The global battery energy storage system market was estimated to cross USD 18.5 Billion by 2023, and is expected to reach USD 52.9 Billion by the year 2033 at a double-digit CAGR of 11.1% between 2023 and 2033. Energy is amongst the quintessential requirements for daily chores across commercial, private, and manufacturing verticals. At the same time, …
Monthly Archives: August 2024
Carrier Screening Market Set for Robust Growth, Projected to Reach USD 4,323.84 Million by 2033 at a 12.4% of CAGR
The global carrier screening market, valued at USD 1,343.40 million in 2023, is on track for substantial expansion, with projections indicating a remarkable rise to USD 4,323.84 million by 2033. This growth represents a robust compound annual growth rate (CAGR) of 12.4% over the next decade. Carrier screening, a crucial component in prenatal care and …
FMI Analysis Affirms Medium Voltage Drives Market Share Projected to Grow at a Steady CAGR of 3.8% During Forecast Period 2023 to 2033
The medium voltage drives market was valued at USD 1,680.2 million in 2023, and it is expected to grow at a CAGR of around 3.8% between 2023 and 2033, surpassing USD 2,439.7 million by 2033. Growing customer interest in incorporating renewables, combined with stringent standards and norms focusing on the deployment of energy-efficient systems, will drive medium voltage drives demand. …
Global Digital Substations Market Valuation Projected to Reach USD 15.1 Billion Milestone by 2033, Driving 7.7% CAGR Growth
The digital substations market is anticipated to expand its roots at a steady CAGR of 7.7% between 2023 and 2033. The market is expected to have a market share of USD 15.1 billion by 2033 while it is likely to be valued at USD 7.23 billion in 2023. The increased number of power stations along with the digital elements, and IoT deployment is …
Hyaluronic Acid Personal Care Products Market Poised for Significant Growth, Projected to Reach USD 7.36 Billion by 2033 at a 8.5% of CAGR
The global hyaluronic acid personal care products market is set to experience substantial growth, with projections estimating a rise from USD 3.26 billion in 2023 to USD 7.36 billion by 2033. This impressive expansion reflects a compound annual growth rate (CAGR) of 8.5% over the forecast period. Hyaluronic acid, renowned for its hydrating and anti-aging …
FMI Report Affirms Global District Heating Market Size to Surpass USD 340 Billion Mark by 2033, Surging at 5.6% CAGR Growth
The global district heating market was valued at USD 198 billion in the year 2023 and is expected to reach USD 340 billion by the year 2033 at a CAGR of 5.6% between 2023 and 2033. The district energy system implies providing heat to monitor temperature in residential, industrial, and business areas. The central heat plant produces heat energy …
Global Smart Pumps Market Size Estimated to Reach USD 2,165.7 Million by 2033, Growing at a Decent 7.8% CAGR | FMI Analysis
According to Future Market Insights, the global smart pump market is expected to be valued at USD 1,021.9 million in 2023 and USD 2,165.7 million by 2033. The industry is forecasted to grow at 7.8% CAGR during forecast period. The market is likely to have many opportunities to flourish due to the cheap cost of smart pumps. …
FMI Analysis States GCC Natural Gas Market Revenue Projected to Exceed USD 85,799.6 Million by 2033, Surging Steadily at 4.5% CAGR
The GCC natural gas market is poised for substantial growth over the next decade, with projections indicating a rise from USD 55,248.7 million in 2023 to USD 85,799.6 million by 2033, achieving a steady compound annual growth rate (CAGR) of 4.5%, according to a recent report by Future Market Insights. This growth is largely fueled by shifting …
Global Agricultural Testing Services Market Share Estimated to Reach USD 10.6 Billion by 2033, Surging at a Decent 7.5% CAGR
The global agricultural testing services market was expected to generate an absolute monetary opportunity of more than USD 5.1 billion in 2023. Sales of agricultural testing services are expected to grow with a CAGR of roughly 7.5% projected from 2023 to 2033. The demand for agricultural testing services is predicted to exceed USD 10.6 billion by the end …
Global Drain Cleaning Equipment Market Valuation Anticipated to Achieve USD 418.9 Million Mark by 2032, Driving 6.0% CAGR | FMI Study
The global drain cleaning equipment market is expected to grow at a CAGR of 6.0% during the forecast period 2022 to 2032. Industry is projected to increase from USD 234.6 million in 2022 to USD 418.9 million by 2032. This marks an improvement from the previous growth rate of 5.1% observed between 2016 and 2021. A comprehensive …