According to Future Market Insights (FMI), the global machine control system market is poised to grow at a robust Compound Annual Growth Rate (CAGR) of 6.5% throughout the forecast period. The industry is anticipated to witness an impressive increase in market valuation, surging from USD 8,223.6 million in 2023 to an estimated USD 15,436.8 million by the …
Category Archives: Industrial News
North America Electrical Testing Services Market Share to Exceed USD 4.5 Billion by 2033, Surging at an Average 6% CAGR
Projections indicate that the North America electrical testing services market is on track to achieve a valuation of USD 2.5 billion in 2023, with expectations of reaching USD 4.5 billion by 2033. This trajectory underscores a noteworthy compound annual growth rate (CAGR) of 6% from 2023 to 2033. As industry participants acknowledge the pivotal role of electrical …
Global Hydraulic Cylinder Market Forecasted to Exceed USD 24 Billion Valuation by 2033, Driving 4.6% CAGR | FMI Study
The global hydraulic cylinder market is expected to advance at 4.6% between 2023 and 2033. The valuation is expected to exceed USD 24 billion by 2033. In 2023, the estimation is likely to be at USD 15.3 billion. Automotive factories face a massive demand for hydraulic cylinders. In 2021, the automotive market had a mammoth valuation of USD 2.8 trillion and is …
FMI Analysis States Global Elevator Control Panelboard Market Share to Exceed USD 15.83 Billion Mark by 2034, Growing at 6.1% CAGR
According to Future Market Insights (FMI), the global elevator control panelboard market is expected to reach USD 15.83 billion by 2034. This growth trajectory is mostly recognized by the surging demand within the residential end-use industry, which is undergoing an extraordinary surge in activity and development. Over the forecast period, global demand for elevator control panelboards is projected to …
FMI Study Indicates Global Biocomposite Market Size Projected to Reach USD 133.84 Billion by 2034, Surging at a Robust 15.5% CAGR
The global biocomposite market is poised for substantial growth, adhering to a remarkable CAGR of 15.5% through 2034. This dynamic expansion is set to create lucrative opportunities for both established players and emerging firms in the industry. By 2024, the market is projected to reach a value of USD 31.76 billion, and this upward trajectory is expected …
FMI Analysis States Global Power Device Analyzer Market Size to Surpass USD 778.5 Million by 2033, Growing at a 5.2% CAGR
The global power device analyzer market is expected to experience significant growth from 2023 to 2033. According to a research report by Future Market Insights, the market is projected to exceed USD 468.9 million in 2023 and reach USD 778.5 million by 2033, with a modest CAGR of 5.2% during this period. A substantial revenue stream for power device analyzers is anticipated to arise …
FMI Analysis Indicates Global DC Drive Market Share to Drive Past USD 9.8 Billion Mark by 2034, Growing Steadily at 5.3% CAGR
The DC drive market had an estimated market size of USD 5.5 Billion in 2023 and is expected to reach a global market size of USD 9.8 Billion by 2034, increasing at a CAGR of 5.3% between 2024 and 2034. By 2024, the market for DC drive is likely to reach a valuation of USD 5.8 Billion. The market is mostly driven by the …
Global Commercial High-speed Oven Market Revenue Share Predicted to Reach USD 5,801.3 Million by 2034 | Future Market Insights, Inc.
The global commercial high-speed oven market value is predicted to increase from USD 3,037.3 Million in 2024 to USD 5,801.3 Million by 2034. Over the assessment period, global demand for commercial high-speed ovens is projected to surge at a CAGR of 6.7%. The built-in ovens segment is expected to dominate the global commercial high-speed oven industry through 2034. It will likely hold …
FMI Forecast States Global Avionics Market Size Estimated to Cross USD 117.0 Billion Mark by 2034, Surging at a CAGR of 7.9%
The avionics market is expected to witness significant growth in the coming years. It is projected to reach USD 54.9 Billion by 2024 and USD 117.0 Billion by 2034. The experts at Future Market Insights anticipate a steady growth trajectory during this period at a CAGR of 7.9%. This growth is attributed to increased demand for commercial aircraft, particularly in emerging economies, …
Global Power Grid Market Revenue Expected to Cross USD 471 Billion Mark by 2034, Growing Steadily at 4.6% CAGR
The global power grid market size is poised for significant growth, reaching USD 300 Billion in 2024. Sales of power grids are expected to witness a robust CAGR of 4.6% from 2024 to 2034. By 2034, the demand for power grids is anticipated to reach a valuation of USD 471 Billion. Driven by advancements in renewable energy technology, the goal of reducing …