The industrial automation market is expected to be valued at US$ 40.6 billion in 2023, rising to US$ 81.4 billion by 2033. Throughout the projection period, the market will grow at a CAGR of 7.2%. The increasing need for high-quality products and increased efficiency is driving the use of industrial automation. Growing advanced technologies such as 5G, …
Category Archives: Business
Energy-efficient Climate Control Solutions | Promising Growth Outlook for Ductless Heating & Cooling Systems 2022 to 2032
The global ductless heating and cooling systems market is expected to be valued approximately US$ 98 billion in 2021 and to develop at a robust CAGR of 8% between 2022 and 2032, reaching approximately US$ 228 billion by 2032. Ductless heating and cooling systems are typically two-way heat pumps that exchange heat between interior and outdoor air. …
Advancements in Power Electronics Testing | Lucrative Growth Opportunities in the Power Device Analyzer Market 2023 to 2033
The global power device analyzer market size is projected to showcase substantial growth from 2023 to 2033. According to the research report published by Future Market Insights, the global market is predicted to surpass a valuation of US$ 468.9 million in 2023. It is anticipated to hit a valuation of US$ 778.5 million by 2033. The market …
Enhancing Precision and Efficiency | Robust Growth Potential in the Machine Control System Market 2023 to 2033
According to FMI, the global machine control system market would increase at a 6.5% CAGR during the forecast period. The industry’s size is predicted to increase from US$ 8,223.6 million in 2023 to US$ 15,436.8 million by 2033. GIS, GNSS, robotics, and laser scanning are among the technologies used in machine control systems. These technologies …
Meeting Fluid Handling Needs | Flourishing Growth of Water Pumps Market in Europe by 2031
The Europe Water Pumps Market was worth US$ 8 billion in 2021 and is expected to be worth US$ 11.4 billion by 2031, growing at a CAGR of 4.3% between 2021 and 2031. Europe has long been the market leader in water pumps. This state is expected to continue even in the forecast period. More than 25% …
Rising Demand for Construction Solutions | Promising Growth Outlook for the Tower Crane Rental Market by 2031
According to FMI’s comprehensive study, the global tower crane rental market is expected to exceed US$ 6.49 billion in 2021. Due to the inability of small and medium-sized businesses to afford cranes, the market is expected to grow at a CAGR of 5.7% between 2021 and 2031, compared to a 1.5% CAGR between 2016 and 2020. Rapid …
Ensuring Safety and Compliance | Thriving Market for Electrical Testing Services in North America by 2031
According to the report, the North America electrical testing services market will grow at a 5.9% CAGR between 2021 and 2031. The economic impact of COVID-19 reduced demand for electrical testing services in 2020. With various end-use sectors already returning to normal operations, the market for electrical testing services in North America will expand. The …
Empowering Manufacturing and Infrastructure | Thriving Market for Industrial Hoses in China by 2031
The China Industrial Hoses market is is expected to surpass a valuation of US$ 1.9 Billion in the year 2031 and is expected to reach at a CAGR of 7.3% between 2021 and 2031. The manufacturing vertical is resorting to industrial hoses for ascertaining minimum leakages with lower operating costs. Cryogenic transfer hoses are in …
Advancing Chemical Process Engineering | Emerging Trends and Opportunities in the Glass Reactors Market by 2031
The global glass reactor market is expected to develop at a CAGR of 5.6% from 2021 to 2031, with sales of 400 thousand units. Despite the challenges posed by the COVID-19 outbreak, the market grew by 4.6% year on year in 2021. The growth of the chemical and industrial industries is driving up demand for …
Driving Sustainable Water Treatment | Promising Growth Outlook for the Reverse Osmosis Pump Market from 2023 to 2033
According to Future Market Insights (FMI), the reverse osmosis pump market is estimated to exceed US$ 6.2 billion in 2023, driven by expanding applications in the oil and gas and water treatment industries. The future for reverse osmosis pump demand remains optimistic, with a CAGR of 9% expected from 2023 to 2033. The increased use …