The global substation automation market is anticipated to be worth USD 29.12 Billion in 2023. The demand for substation automation is expected to increase at a 6.7% CAGR between 2023 and 2033, with a market value of roughly USD 55.69 Billion by 2033. The increasing demand for reliable and efficient power supply drives the substation automation industry. …
Category Archives: Industrial News
Global Palletizing Robots Market Revenue Share to Drive Past USD 2.39 Million by 2033, Surging at a 5.0% CAGR | FMI Analysis
The global palletizing robots market is projected to reach a valuation of USD 1.47 million in 2023, increasing to USD 2.39 million by 2033, with an expected CAGR of 5.0% during the forecast period. Pallet wrapping is a crucial step in the workflow at the end of the packaging line before products are transported and distributed. Advances in robotics have led to the …
Global Gasoline Generator Market to Surge Steadily at 3.7% CAGR, Reaching USD 994.6 Million by 2029 | FMI Prediction
FMI forecasts indicate that the gasoline generator market is expected to achieve a value of USD 994.6 million by 2029. Recent insights derived from a comprehensive market research study conducted by Future Market Insights shed light on the gasoline generator market. This study encompasses an opportunity assessment spanning the period from 2022 to 2029, coupled with a …
Global Welding Consumables Market Revenue Estimated to Reach USD 32.27 Billion by 2033, Growing Steadily at a 6% CAGR
The global welding consumables market is currently valued at USD 18.02 Billion and is projected to grow to USD 32.27 Billion by 2033, reflecting a CAGR of 6% from 2023 to 2033. This market encompasses the joining of two dissimilar metals, driven by increasing demand for customized metal designs and applications in heavy industries. New welding technologies, such as plasma and resistance spot …
FMI Forecast Indicates Global Hydrogen Electrolyzer Market Size to Hit USD 5,709.8 Million by 2034, Driven by a Robust CAGR of 24.2%
The global hydrogen electrolyzer market is projected to reach a valuation of USD 651.6 million in 2024, driven by international collaboration and trade. This trend is expected to unlock new opportunities, leading to a robust CAGR of 24.2% from 2024 to 2034, with the market reaching an estimated value of USD 5,709.8 million by 2034. Electrolyzers play a key role in grid balancing …
FMI Study States Global Refrigerated Display Cases Market Size Anticipated to Cross USD 17,633.71 Million by 2034, Surging at 5.80% CAGR
The size for refrigerated display cases market is projected to increase significantly, from USD 10,034.30 million in 2024 to USD 17,633.71 million in 2034. The most recent estimate indicates that the CAGR between 2024 and 2034 would be 5.80%. Compared to the prior CAGR of 1.73% recorded between 2019 and 2023, that is a notable improvement. Refrigerated …
Global Gasket and Seal Market Revenue Share Forecasted to Reach USD 152,911.56 Million by 2034, Surging at 2.10% CAGR
According to FMI, the global gaskets and seals market will expand at a 2.10% CAGR during the forecast period. The value of the industry is expected to increase from USD 87,012.9 million in 2024 to USD 152,911.56 million by the end of 2034. The need for gaskets and seals is expected to skyrocket in the next years. …
Global Hand Tools Market Valuation Anticipated to Surpass USD 27.9 Billion by 2033, Growing at a 5.8% CAGR | FMI Study
Future Market Insights (FMI) projects the global hand tools market is expected to grow at an average CAGR of 5.8% during the forecast period. The market is projected to generate USD 15.9 billion in revenue in 2023, with an anticipated value of USD 27.9 billion by 2033. Manufacturers recognize the importance of continuous innovation in tool design, adding new features to enhance functionality. …
Global Bulk Terminal Market Valuation to Exceed USD 28,800 Million Mark by 2034, Growing Steadily at a 3.9% CAGR
According to Future Market Insights (FMI), the global bulk terminal market is expected to grow from USD 19,641 million in 2024 to USD 28,800 million by 2034, with a projected CAGR of 3.9% during the forecast period. Bulk terminals play a crucial role in the global logistics and supply chain network by facilitating the storage, handling, and distribution of bulk commodities across various …
FMI Study Indicates Global Mobile Cranes Market Share to Surpass USD 33,500.2 Million by 2034, Growing at an Average 6.7% CAGR
The mobile cranes market is expected to develop at a modest CAGR of 6.7% between 2024 and 2034. The market is expected to be valued at about USD 33,500.2 Million by 2034, up from USD 17,679.6 Million in 2024. The mobile cranes industry is driven by various factors contributing to its growth and development. One key driver is the increasing demand …