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The presence of many renowned manufacturers of digital calibrators is expected to boost the U.S. market in the near future. As per FMI, North America calibrators market is anticipated to account for about 31.7% of the share in 2022.

The majority of the major players in the United States are focusing on mergers and acquisitions in order to co-develop new products and expand their geographic presence. Driven Brands Holdings Inc., a prominent automotive services company in North Carolina, for example, acquired Auto Glass Now (AGN) in January 2022 to expand its auto glass offering in the country. With the growing need for calibration, the company will be able to strengthen its glass repair service. As a result, the involvement of key players based in the United States in such acquisitions is expected to boost demand for pressure calibrators in the coming years.

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In 2014, the global calibrators market was worth $700 million. By the end of 2022, it is expected to be worth $820 million. Between 2022 and 2029, the calibrators market is expected to grow at a CAGR of 4%, reaching a value of US$ 1,200 Mn by the end of 2029.

Calibrators Market: Segmental Analysis

By the current type, the direct current calibrator type segment, in terms of value, is anticipated to account for over half of the global calibrators market since, direct current calibrators are expensive and in most of the process control industries, the source of power is direct current type. Besides, alternative current type calibrators are usually employed for specific applications such as substations, etc. Thus, DC calibrators are predicted to have an upper hand throughout the forecast period as compared to the AC calibrators segment.

Based on the sales channel, the calibrators market has been divided into offline sales and online sales. The offline sales channel is stipulated to overlook the global calibrators market in the forecast period.

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On the basis of end use, the global calibrators market has been segmented into industries and laboratory. The industries segment is further classified into sub-segments; electrical & electronics, process industry/process control industry, power industry, and auxiliary manufacturing. The process industry/process control industry sub-segment is stipulated to be the controlling segment in the global calibrators market due to the extensive need of test and measurement equipment in order to eliminate or mitigate any discrepancies in the manufacturing process.

Among all other regions, North America is estimated to account for over one-fourth of the market share in the global calibrators market, owing to the growing industrialization and urbanization, which in turn, is augmenting electrical testing services. As the entire world depends on electricity and its resources for power generation and distribution, the consumption of these resources have been increasing rapidly in the global market and hence, the impact of this factor is moderately high.

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In terms of the global calibrator market value share, Europe is estimated to stand second, following North America in the global calibrators market. By country, China, Brazil, and India are predicted to be the emerging countries in the global calibrators market.

The electrical equipment industry is highly competitive and fragmented, due to the presence of various small and medium scale players. Some of the key players in the global calibrators market are Fluke Calibration, Keysight Technologies, WIKA, AMETEK INC, Beamex Oy Ab, OMEGA Engineering Inc., Megger, Yokogawa Test & Measurement Corporation, and ABB, among others.

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The commercial refrigeration compressor market at US$ 8,567.6 Mn in 2022 and has predicted the market to surge at a CAGR of 4.3% to reach a valuation of US$ 13,090.8 Mn by 2032. The increase in the use of the natural and energy-efficient refrigerants is anticipated to sustain the trend over the projection tenure.

The Global Commercial Refrigeration Compressor Market accounts for approximately 25-35% of the total Refrigeration Compressor Market (including industrial and residential).

The South Asia and Pacific region is expected to grow at a CAGR of 5.4% over the next few years. ASEAN and India, two prominent economies in the region, are exhibiting strong growth in the developing retail sector and are expected to grow at a CAGR of 6% to 8% during the assessment period (2022-2032)

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The commercial refrigeration compressor market was estimated by Future Market Insights (FMI) to be worth US$ 8,567.6 Mn in 2022 and to grow at a CAGR of 4.3% to US$ 13,090.8 Mn by 2032. Over the projected period, it is expected that use of natural and energy-efficient refrigerants will continue to rise.

During the forecast period, the market for commercial refrigeration compressors is anticipated to expand at a promising rate, helped by the rising number of retail stores around the world. Furthermore, positive change in living standards and improving macroeconomic scenario have led to a significant surge in the number of organized retail stores, worldwide.

The rapid growth of the organized retail sector characterized by the rising number of supermarkets, hypermarkets, etc., is projected to drive the growth of the overall food chain, which, in turn, is estimated to boost the sales of commercial refrigeration compressors for refrigerated display cases and other refrigeration equipment.

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Commercial Refrigeration Compressors Market Analysis by Region

From a regional perspective, East Asia is a projected to be a prominent market, owing to significant growth of retail stores in the region. Europe is projected to hold a value share of around 19% in the global commercial refrigeration compressors market.

The market in Asia Pacific is anticipated to expand at a relatively high growth rate, owing to the increasing demand for refrigerated display cases, beverage vending refrigeration systems, etc., which, in turn, is projected to drive the demand for commercial refrigeration compressors in the market.

The commercial refrigeration compressors market in China is expected to be a lucrative market, and is projected to grow at a value CAGR of nearly 6% during the forecast period.

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Commercial Refrigeration Compressors Market: Vendor Insights

The report highlights some of the main companies that are operating in the global commercial refrigeration compressors market, such as Emerson Electric Co., HUAYI COMPRESSOR CO., LTD., Mitsubishi Electric Corporation, LG Electronics, Inc., The Danfoss Group, Panasonic Corporation, BITZER SE, GEA Group AG, Frascold S.p.A., Fusheng Co., Ltd., Nidec Corporation, Midea Group, Officine Mario Dorin S.p.A., Johnson Controls – Hitachi Air Conditioning, and Tecumseh Products Company LLC.

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The global pallet pooling market size is projected to reach US$ 7.1 Bn in 2022. Sales in the market are slated to increase at a steady 6.1% CAGR, pushing the market size to US$ 12.9 Bn by 2032.

Warehouse operators prefer pallet pooling because it saves time and resources associated with repairing, maintaining, and sorting individual pallets. Furthermore, by grouping similar types of pallets together, warehouse operators can save money on storing and transporting these objects.

This is expected to drive the market in the coming years. As the manufacturing sector expands globally, so does the demand for pallet pooling solutions in warehouses.

Pallet pooling market sales are expected to increase in tandem with rising demand for lower logistics costs. Pavement management solutions enable the collection of these pallets for reuse at other manufacturers throughout the supply chain. The pallet interface reduces the complexity of purchasing, handling, and lifting by eliminating the need to control pallet distribution.

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Technological progress is expected to open up new opportunities for pallet pool market participants. There are a number of pallet organizations that specialize in placing interesting pallets. For example, they could run pallets covered with radio frequency identification (RFID) tags. This concept quickly gained ground thanks to several advantages, such as fast supply chain monitoring.

In the fast-moving consumer goods, food & beverage, and pharmaceutical industries, pallet pooling is very popular. Pooling pallet manufacturers continue to use wood and plastic as their principal materials. Demand for wood pallets is expected to remain high in comparison with other materials such as steel and composites.

In the forthcoming years, disposable plastic pallet pooling, which is appreciated for its durability and low cost, is predicted to gain a substantial share in the global pallet pooling market. The global pallet pooling market will benefit from rapid industrialization and increasing demand from the pharmaceutical sector.

“The introduction of pallets with RFID tags, along with pallet pooling rental services offered by market players will augment the growth in the market over the forecast period,” says an FMI analyst. 

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Key Takeaways: 

• By structural design, sales in the block pallet pooling segment are slated to increase at a 6.7% CAGR over the forecast period.
• Based on material, the wooden pallets segment will account for 57% of the total market share over the assessment period.
• In terms of end-use industry, sales in the FMCG segment will command more than 33% of the total market share in 2022.
• The U.S. pallet pooling market will offer an incremental opportunity of US$ 1.3 Bn over the forecast period.
• Total sales of pallet pooling services in China will reach a valuation of US$ 214.6 Bn by 2032.
• Demand for pallet pooling services in Germany is poised to grow at a 3.6% CAGR over the forecast period.

Competition Landscape

Pallet pooling service providers are focusing on business expansion by opening new distribution centers and sales offices. Many manufacturers are creating strong networks with dealers and distributors to expand their businesses across multiple regions.

Some of the key pallet pooling manufacturers included in the report are Brambles Limited, Schoeller Arca, Faber Halbertsma, Euro Pool Group, Loscam, LPR, Contraload NV, Zentek Pool System GmbH, PPS Midlands Limited, Demes Logistics Gmbh & Co. KG.

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Future Market Insights (FMI) analysts estimate that global minor bulk traded has increased to 1.74 billion tonnes. Bulk terminals play an important role in industrial infrastructure by ensuring the safe and efficient movement of critical resources. Despite recent declines in global seaborne trade due to the COVID-19 pandemic, global minor bulk trade has expanded significantly.

Steel and forest products account for 43% of minor bulk trade, according to the FMI report. Furthermore, metals and minerals account for approximately 37% of minor bulk trade, followed by agricultural products, which account for 20% of minor bulk trade.

In order to supplement the effectiveness and flexibility of their high-investment bulk assets in dynamic markets that drive raw material demand, operators and owners must supplement the effectiveness and flexibility of their high-investment bulk assets. Advanced supply chains prioritise long-term digital ecosystem penetration and manufacturing method automation. Agricultural yield is concentrated primarily in countries such as the United States, Argentina, Brazil, China, and India, which account for more than 34% of grain export and import as minor bulk commodities.

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Bulk Terminals Market Size Study

• Sales of bulk terminals to remain stable over forecast period, 2020-2030
• Dry bulk continues to generate greater total returns to shareholders (TRS)
• Nearly 190 terminals were under expansion worldwide in June 2019, with additional 49 under construction
• Markets in Europe and North America to generate relevant value through 2030

“Majority of global trades are performed through coastal routes, as such, proper functioning of maritime transport is quintessential in overall progress of countries participating in global trade. Port operation accents for heavy investments in manpower and equipment. Consequently, various countries are embracing Public-Private Partnership (PPP), wherein operations and management duties are outsourced to private firms, while respective governments own certain land and assets,” says analyst at FMI.

COVID-19 Impact on Bulk Terminals Market

Due to strict lockdown measures, the COVID-19 pandemic is causing massive supply chain disruptions in the bulk terminals market, particularly in Asian supplier regions. Such stringent measures have resulted in a labour shortage – truck drivers and labourers – at port terminals.

Furthermore, the market is suffering from a lack of transportation facilities such as. According to studies, the number of trucks and containers dropped by about half due to a decrease in the number of trailers and a lack of drivers. This has slowed transshipment operations at terminals even more.

Because of growing concerns about worker safety, several end-use industrial operators have temporarily halted manufacturing processes, reducing demand for bulk terminals. Upgrading automation capabilities will be critical for staying afloat during the COVID-19 crisis.

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Bulk Terminals Market – Competitive Intelligence

Leading players in global bulk terminals market are focused on inorganic growth strategies such as mergers and acquisitions (M&A) as well as contracts in order to boost theor market presence. Case in point,

• Ultramar Group has entered into transshipment collaboration with Acron Group to transship over 1.2 million tons per year (tpy) of mineral fertilizers.
• Noatum Maritime has taken over multi-purpose bulk terminal business from Noatum Ports.
• Teck Resources and Westshore Terminals have entered into an agreement for new throughput contract for export of metallurgical coal beginning in April 2021. The contract will witness 5-7 million mt of metallurgical coal exported from April through December 2021.

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To Know More About Bulk Terminals Market:

A new market research report published by Future Market Insights (FMI) on the global bulk terminals market report offers comprehensive insights into the market demand trends and analysis of opportunities over the forecast period, 2020-2030. The report examines the bulk terminals market through two different segments – bulk type, and region. The bulk terminals market report also provides extensive assessment of pricing by different key market dynamics, life cycle analysis, and technologies that are being deployed in the manufacturing of barcode printers and product adoption across several end-use industries.

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With sales of commercial refrigeration equipment enjoying Y-o-Y growth of 3.9% in 2022, the market is expected to be worth US$ 51.8 Bn by the end of the year. The global commercial refrigeration equipment market is anticipated to reach a valuation of US$ 68.3 Bn by 2028 while progressing at a CAGR of 4% (2022-2028).

Leveraging power-green technologies to offer low global warming capacity (GWP) merchandise with wealthy functionalities will be the price tag to capturing vast marketplace proportion ultimately.

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The demand for NH3/CO2 cascade systems is also slated to go up gradually due to the advantages they offer for food processing and low-temperature distribution facilities. These benefits include low operating costs (as they use less energy per ton of refrigeration compared to other systems), lower capital and compliance costs, optimal food quality, and increased throughput.

The rising popularity of frozen food products and ready-to-drink beverages, which drives the commercial refrigeration equipment market, is one of the key reasons for a responsible year-on-year increase.

The food and beverage industry is a major end-use sector for commercial refrigeration equipment and systems. Investments in the food and beverage industry are expected to grow significantly over the forecast period as the global population grows and food demand rises.

Sales of equipment including industrial refrigerators, commercial freezers, and other refrigeration units are anticipated to increase in response to the rising demand for ready-to-eat food and beverages.

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COMMERCIAL REFRIGERATION EQUIPMENT MARKET KEY TAKEAWAYS

• Growing demand for ready-to-eat products and expanding retail outlets are driving the sales of commercial refrigeration equipment.
• North America and Europe would collectively account for over half of the market value share by 2029 end.
• The food services sector will remain prominent application area to invest in, for commercial refrigeration equipment market players.
• The enforcement of new refrigerant regulations such as the EPA 680 Upgrade, and the Kigali Amendment for the phase-down of HFC refrigerants will largely impact the market growth.
• The higher average unit cost of freezers & refrigerators allude lower volume sales vis-à-vis value gains, with just about 2.6 million unit sales in 2021.
• Glass door merchandizers that account for around a third of total volume sales continue to see relatively low revenue generation as compared to freezers & refrigerators.
• Sales of beverage dispensers and display cases across end-use industries will show a moderate increase year-over-year in 2022, which will collectively represent nearly 16% of total commercial refrigeration equipment sales in that year.

Manufacturers who are keeping the innovation quotient high and providing turn-key solutions to meet regulatory requirements, with safety to end users at the core, will be rewarded in the long run.

Chinese Players Striving to Win Home Market​

In developed markets, rapid acceptance of alternative refrigerants to benefit from regulatory standards along with expansion of F&B processing industries continue to contribute to the development of the commercial refrigeration equipment market.

The growth of Asia Pacific’s commercial refrigeration equipment market was influenced by a shift of Asian eating habits towards western-style convenience food. With the ability to manufacture their own compressors, Chinese companies are gaining competitive edge to reign supreme in their home market with indigenous brands.

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Competition Trends

In 2021, the top four stakeholders including Carrier Corporation, Daikin Industries, Ltd., Danfoss A/S, and Hussman Corporation collectively accounted for 20-25% revenue share. The emergence of a large number of small players in developing countries has resulted into price competition, with leading market players losing their profit margins. Market fragmentation will continue through 2029, driven by regional regulatory norms and enhanced capabilities of the local players.

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