Because of increased infrastructure development opportunities in emerging regions, which has increased demand for heating and ventilation systems, the variable frequency drives (VFD) market has grown significantly in recent years. VFD development is currently shifting towards offering industry-specific solutions to reduce costs and operational downtime, resulting in a slew of manufacturer innovations. Variable frequency drives, …
Category Archives: Industrial News
Growing Air Traffic and Expansion of Airports to Drive Aircraft Ground Support Equipment Market by 2031
The global aircraft ground support equipment (GSE) market is expected to grow at a CAGR of 6.5% between 2021 and 2031, reaching a market volume of around 27,000 units by the end of 2031, according to Future Market Insights (FMI), an ESOMAR-certified consulting firm. The construction of new airports, combined with increased global air traffic, …
Rising Demand for Seabed Development and Land Reclamation Projects to Drive Dredging Market from 2022 to 2032
Dredging revenues are expected to increase from $15.7 billion in 2022 to $22.3 billion by 2032. According to FMI, the market will grow at a CAGR of 3.7% during the forecast period. Growing global trade and urbanisation projects support growth, assuming that over 70% of trade by volume and 80% of trade by value is …
Automation and Integration of Bulk Material Handling Systems to Drive Market Growth by 2031
Bulk material handling system sales are expected to increase from 13,000 units in 2021 to more than 14,000 units by the end of 2031. According to Future Market Insights, the bulk material handling system market revenue is expected to reach $5.1 billion by 2021. (FMI). The market will grow by 2.10 percent per year in …
Rising Adoption of Smart Grids and Renewable Energy Sources to Drive Transformer Monitoring System Market from 2022 to 2032
In 2022, the global transformer monitoring system market is expected to be valued at $2,785.2 million. From 2022 to 2032, it is expected to grow at an 8.9% CAGR, reaching a valuation of US$ 6,539.2 Million by the end of 2032. The transformer monitoring system is a process-oriented system that measures quantities such as voltage …
Digital Transformation of Oil & Gas Industry to Propel Oil & Gas Terminal Automation Market from 2022 to 2032
The global oil and gas terminal automation market is expected to be worth US$ 1303.1 million in 2022, up from US$ 1258.0 million in 2021. Overall demand for oil and gas terminal automation is expected to grow at a 7.8% CAGR between 2022 and 2032, reaching a value of approximately US$ 2761.6 Million by 2032 …
Explosive Growth of Green Hydrogen Economy to Fuel Water Electrolysis Machine Market from 2022 to 2030
The market for water electrolysis machines is expected to grow at a 7.7% CAGR between 2022 and 2030. The coronavirus pandemic has had only a minor impact on the global market for water electrolysis machines. Innovations in crude oil processing applications will help the market grow. Despite steady growth in the market, high capital costs …
Growing Adoption of Automation and Industrialization to Drive Growth in the Global Industrial Nailers Market from 2022 to 2030: Analysis of Key Trends, Drivers & Growth Opportunities
The global industrial nailers market is valued at around US$ 629.6 Million in 2022, having registered Y-o-Y growth of 7.5%. The market is expected to grow at a 7.9% CAGR and reach a value of US$ 1.15 billion by the end of 2030. The automotive and construction industries, both of which rely heavily on industrial nailers, bear the …
Booming Demand for Construction and Infrastructure Projects to Drive Growth in the Global Crane Market from 2022 to 2029: Analysis of Key Trends & Growth Opportunities
The global crane market is expected to reach $43.9 billion in 2022. The market is expected to reach US$ 57.1 billion by 2029, growing at a steady 3.8% CAGR. In the current market scenario, the growing number of construction projects in South East Asian and Latin American countries, as well as long-term supply agreements with …
Rising Need for Water Management Solutions to Propel Growth of the Global Commercial Booster Pumps Market from 2022 to 2030: Analysis of Key Trends, Drivers & Growth Opportunities
The global commercial booster pump market is currently valued at $5.41 billion, with a projected value of $10.06 billion by the end of 2030. From 2022 to 2030, global shipments of commercial booster pumps are expected to grow at an 8.1% CAGR. According to the report, the market will be worth $4.7 billion in 2020. …