Between 2022 and 2032, the global traction motor market is expected to grow at a CAGR of 13.0%, surpassing a valuation of $30 billion by 2032, when global sales are expected to reach 12-15%. The overall demand for these high-performance motors from diverse industries such as automotive and electric and electronics has aided growth in …
Category Archives: Industrial News
Hazardous Area Equipment Market Outlook, New Business Opportunity & Demand Analysis during Forecast 2022 to 2032
The global Hazardous Area Equipment Market is expected to be worth $15.43 billion by 2032, growing at a 5.2% CAGR from 2022 to 2032. The term “hazardous area equipment” refers to devices that can either limit or mitigate the damage caused by accidents such as fires, or that can work effectively in harsh environments. They …
Emerging Applications and Sustainable Production Driving Growth in the Biocomposites Market 2022 to 2032
During the forecast period, the global biocomposites market is expected to grow at a 16% annual rate. The market for biocomposites is expected to be worth $128 billion by 2032, up from $25 billion in 2021. Increased research and development efforts for composite materials and biocomposite uses and benefits such as recyclability, lightweight, and cost-effectiveness …
Global District Cooling Market Outlook 2023 to 2033: Growing Need for Energy-Efficient Cooling Solutions Driving Market Expansion
According to a recent FMI report, the global district cooling market share is expected to reach US$ 63.2 billion by 2033, with a CAGR of 8% over the projected period. The study found that rising demand for energy-efficient cooling technology has a proportionate impact on district cooling adoption. Rapidly rising temperatures and the proven viability …
Rising Demand for Efficient Energy Storage Solutions Driving Growth in the Absorbent Glass Mat (AGM) Battery Market 2022 to 2032
The global absorbent glass mat (AGM) battery market is expected to be worth US$ 18 billion by the end of the forecast period, growing at a 4.8% CAGR. In the coming years, market growth is expected to be fueled by increasing government support. The industry is expected to generate $11.2 billion by 2022. The primary …
Global Testing, Inspection, and Certification Market Outlook 2022 to 2032: Growing Demand for Quality Assurance & Compliance Driving Market Growth
The market for testing, inspection, and certification is expected to expand at a 1.8% CAGR through 2032, reaching USD 256.9 billion in 2032, up from USD 215 billion in 2022. The testing, inspection, and certification sector contributes significantly to the global economy by assisting in the improvement of product quality used by a diverse range …
Agricultural Equipment Market is to grow at 4.8% During the Forecast Period 2022 to 2032
The global agricultural equipment market is expected to be valued at US$ 68.12 Billion in 2022. With the increasing growth of the farm mechanization, coupled with the increase in investments by OEMs for Agricultural Equipment, the overall demand for agricultural equipment is projected to grow at a CAGR of 4.8% between 2022 and 2032, totaling around US$ …
Fire Extinguisher Market is to grow at 5.7% During the Forecast Period 2021 to 2031
As per a Future Market Insights (FMI) analysis, the fire extinguisher market is projected to be appreciated at over ~US$ 3.6 Billion in 2021, growing at a CAGR of ~5.7% over the prediction period of 2021 to 2031. Demand for fire extinguishers is expected to rise over the projected period as more industrial and commercial applications as well as the implementation …
Conveyor System Market is to grow at 4.5% During the Forecast Period 2021 to 2031
The conveyor system market grew steadily in 2021, with global revenues increasing 3.5% year on year. The conveyor system market is expected to reach US$13.7 billion in 2021, at a CAGR of 4.5%, due to increased mergers and acquisitions by Tier-1 companies and the integration of machine learning and the internet of things in material handling solutions, …
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Dewatering Pump Market is to grow at 5.2% During the Forecast Period 2023 to 2033
The global dewatering pump market is expected to bode well over the assessment period from 2023 to 2033 by registering an impressive CAGR of 5.2%. The market is anticipated to attain a valuation of US$ 12,213.6 million by 2033 and reach US$ 7,356.8 million in 2023. Future Market Insights’ historical data shows that between 2018 …
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