Orthopaedic Prosthetics Market will witness a CAGR of over 4.5% through 2030 | FMI

[250 Pages Report] A recent market study published by Future Market Insights on the orthopaedic prosthetics market includes global industry analysis for 2015-2019 & opportunity assessment for 2020-2030, and delivers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historical as well as current growth parameters of the market, the growth prospects of the market are obtained with utmost precision.

Orthopaedic Prosthetics Market Outlook & Key Findings
  • The global Orthopaedic Prosthetics market will witness a CAGR of over 4.5% through 2030
  • Lower extremity prosthetics remain the largest category, accounting for nearly two-thirds market share
  • 3D printed prosthetics will remain a key growth driver during the forecast period
  • Asia Pacific will witness the highest growth rate during the assessment period
  • North America and Europe will remain two big markets, accounting for over 50% of market share

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Key Players :

  • Exatech Inc.
  • Howard Orthopaedics Inc.
  • Hanger Inc.
  • Wishbone Medical
  • Pega Medical
  • OrthoPediatrics
  • Arthrex
  • Touch Bionics Inc.
  • Advanced Arm Dynamics
  • Medtronic Spinal
  • Integra Lifesciences
  • Globus Medical
  • DJO Global

Orthopaedic Prosthetics Market: Segmentation

The global orthopaedic prosthetics market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.

Product

  • Upper Extremity Prosthetics
    • Hand Prosthetics
    • Elbow Prosthetics
    • Shoulder Prosthetics
  • Lower Extremity Prosthetics
    • Foot & Ankle Prosthetics
    • Knee Prosthetics
    • Hip Prosthetics
  • Liners
  • Sockets
  • Modular Components

Technology

  • Conventional
  • Electric Powered
  • Hybrid Orthopaedic Prosthetics

End User

  • Hospitals
  • Prosthetic Clinics
  • Rehabilitation Center
  • Others

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Report Chapters

Chapter 01 – Executive Summary

The report initiates with the executive summary of the orthopaedic prosthetics market, which includes a snapshot of key findings and statistics. It also includes drivers and trends pertaining to the market.

Chapter 02 – Market Overview

Readers can find the definition and a detailed segmentation of the orthopaedic prosthetics market in this chapter, which will help them understand the basics of the market. Along with this, comprehensive information pertaining to orthopaedic prosthetics and their properties are provided in this section. This section also highlights the inclusions and exclusions, which help the reader understand the scope of the market report.

Chapter 03 – Market Background

This section gives information about drivers and restraints of the orthopaedic prosthetics market. This section also includes various opportunities pertaining to the market.

Chapter 04 – Market Context

This section gives information about upcoming pipeline products, PESTLE analysis, Porter’s Five Forces Model, and regulatory scenario of the market.

Chapter 05 – Global Orthopaedic Prosthetics Market Demand (size in US$ Mn) Analysis 2015-2019 and Forecast, 2020-2030

This section explains the global market value analysis and forecast for the market during the forecast period (2020-2030). It includes a detailed analysis of the historical orthopaedic prosthetics market, along with an opportunity analysis for the future. Readers can also find the absolute $ opportunity for the current year (2019), and an incremental $ opportunity for the forecast period (2019–2029).

Chapter 06 – Global Orthopaedic Prosthetics Market Analysis 2015-2019 and Forecast 2020-2030, by Product

Based on product, the orthopaedic prosthetics market is broadly segmented into upper extremity prosthetics, lower extremity prosthetics, liners, sockets and modular components. In this chapter, readers can find information about the key trends and developments in the market and market attractiveness based on product.

Chapter 07 – Global Orthopaedic Prosthetics Market Analysis 2015-2019 and Forecast 2020-2030, by Technology

Based on technology, the market is segmented into conventional, electric powered, and hybrid orthopaedic prosthetics. In this chapter, readers can understand the market attractiveness based on technology.

Explore Wide-ranging Coverage of FMI’s Healthcare Landscape

Transradial Closure Devices Market – According to Future Market Insights (FMI), the demand from hospitals, independent catheterization centers, and healthcare clinics will continue rising. Spurred by this, the global transradial closure devices market is set to grow by 6.5% CAGR during the forecast period from the year 2020 to 2030.

In Vitro Fertilization Banking Services Market – The in vitro fertilization banking services market, despite undergoing a temporary period of lull due to COVID-19 outbreak, is likely to have an impressive growth trajectory between 2020 and 2030.

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Artificial Turf Market Size, Share & Growth Report for 2031

As per a research survey conducted by ESOMAR-certified consulting firm Future Market Insights (FMI), the global artificial turf market is expected to reach US$ in 2021. Increasing adoption of artificial turns for landscaping in residential and commercial buildings is expected to facilitate growth.

As per FMI, the market will expand at 5.9% CAGR over the forecast period 2021-2031 in comparison to CAGR 1.8% registered between 2016 and 2020.

Artificial turfs are increasingly used in hotels, restaurants, residential houses, and airports for various landscaping applications such as decorating balconies, rooftops, swimming pools, children playgrounds, and lawns. Thus, with the expansion of urban infrastructure aligned with modern lifestyle, the demand for artificial turf is expected to propel in the coming years.

Due to its superior characteristics such as high durability, less maintenance, low replacement rate over natural grass, artificial turfs are progressively used in contact sports such as rugby, football, hockey, and cricket playing fields and stadiums.

Thus, increasing number of stadiums across the world and upcoming global sports events such as ICC World Cup 2023, FIFA World Cup 2022, and others are anticipated to accelerate the sales of artificial turfs over the next ten years.

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Key Takeaways from the Artificial Turf Market Survey

  • In North America landscape, the U.S. is estimated to remain a dominant market driven by the increasing demand for artificial turfs from landscaping and leisure applications.
  • The U.K, home to large number of football and cricket stadiums, is expected to emerge as one of the most remunerative markets.
  • The market for artificial turfs in India is projected to exhibit the fastest growth in the Asia Pacific on the back of increasing government support for upgrading sports infrastructures, especially hockey and football.
  • Germany is estimated to account for a significant share in the European market on the back of the presence of a large number of leading artificial turfs manufacturers in the country.
  • Based on infill material, the rubber is likely to dominate the segment favored by the increasing adoption in outdoor sports.

Competitive Analysis

Leading players operating in the artificial turfs market are heavily investing in research and development activities to develop novel product to expand their product portfolio. Besides this, some of the players are engaging into strategic mergers & acquisitions of small and medium-scale companies. For instance,

  • In 2017, Synthetic Grass Warehouse, Inc. an America based company announced launching its new artificial turf named, Everlast Turf’s Nature’s Best. The product is aimed to provide realistic looking artificial grass with enhanced durability.
  • In August 2019, SportGroup subsidiary company, AstroTurf acquired, an American company, Nagle Athletic Surfaces Inc. The acquisition assisted the company to capitalize on the extensive range of products of Nagle Athletic Surfaces, Inc. and increase their market share.

More Insights into the Artificial Turf Market Report

In its latest report, FMI offers an unbiased analysis of the global artificial turfs market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of infill material (rubber, sand, and other) and application (contact sports, non-contact sports, leisure, and landscaping) across seven regions (North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan (APEJ), Japan, and Middle East & Africa).

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Perfume Ingredient Chemicals Market Is Expected To See a growth of 5.7% | Future Market Insights

The global perfume ingredient chemicals market is expected to exceed US$ 6.7 billion in 2022. The market is expected to reach US$ 8.9 billion by 2027, growing at a robust 5.7% CAGR.

The increased demand for natural and organic products, as customers become more aware of the importance of such items, is expected to drive sales in this market. Another factor that is anticipated to contribute to this rise in the near future is the trend of using natural perfumes.

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Global Perfume Ingredient Chemicals Market: Restraints

  • High cost of raw materials and lack of low tier manufacturing
  • Low awareness of greener products and low production growth
  • High cost of extracting raw ingredients and expensive research & development programmes
  • Raw material price fluctuations and high cost of petroleum based fuels
  • Growing concerns regarding the harmful effects of using aggressive ingredients

Global Perfume Ingredient Chemicals Market: Forecast by Application

On the basis of application, the global perfume ingredient chemicals market is segmented into fine fragrance, home care, laundry care, personal care, cosmetics, and others. The fine fragrance segment accounted for a significant market value share of 22.3% in 2022, followed by the personal care segment. The personal care segment is expected to remain dominant till 2027. This segment is also expected to remain the most lucrative during the forecast period.

Global Perfume Ingredient Chemicals Market: Forecast by Product Type

Product type segmentation comprises synthetic aroma chemicals and essential oils. Synthetic aroma chemicals segment is further segmented into alcohols, esters, ethers, ketone, and others. Essential oils segment is sub-segmented into orange, citronella, peppermint, eucalyptus and others. Synthetic aroma chemicals segment is anticipated to witness the highest value CAGR of 5.7% in the global perfume ingredient chemicals market. Cost factor is expected to move market players to adopt synthetic products; further, a global trend towards green products is expected to create lucrative opportunities for manufacturers of essential oils owing to a growing consumer preference for herbal products.

Global Perfume Ingredient Chemicals Market: Forecast by Region

Asia Pacific is estimated to be the most lucrative regional market in terms of revenue generation in the global perfume ingredient chemicals market, valued at US$ 1,198.0 Mn in 2022 and is expected to expand at a CAGR of 6.2% over the forecast period. Within the Asia Pacific, China & India are expected to remain in a dominant position for perfume ingredient chemicals demand. In terms of growth, following the Asia Pacific are several European countries such as Italy, France, and U.K. A noteworthy increase in sales in other developing markets such as Brazil, Russia, Turkey, GCC countries and South Africa is anticipated over the forecast period.

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Global Perfume Ingredient Chemicals Market: Key Players

Sensient Technologies Corporation, BASF SE, Eternis Fine Chemicals, YingYang (China) Aroma Chemical Group, KDAC CHEM Pvt. Ltd., Frutarom Harmony Organics Pvt. Ltd., Atul Ltd, GODAVARI BIOREFINERIES LTD, Givuadan Firmenich, International Flavors and Fragrances Inc., Symrise, Takasago International Corporation, MANA SE, Robertet SA, T. Hasegawa USA, Huabao International Holdings Limited, Zhejiang, Xinhua Chemical Co., Ltd, Henkel AG & Co KGaA ADR, and Charkit Chemical Company LLC are some of the leading companies operating in the global market that have been profiled in this report.

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About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

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Gypsum Market Worth US$ 7.8 Bn by 2032, Growing at a CAGR of 6.2%

The global gypsum market is estimated to expand at a 6.2% CAGR over the forecast period, reaching US$ 4.3 Bn in 2022.

Gypsum is a vital construction material and is used widely in Portland cement, building plaster, and several other construction products. The construction industry is a key application segment in the gypsum market. It is used for various applications such as cement, plaster, drywall manufacturing, and others. Growth in construction industry is expected to elevate the consumption of gypsum over the forecast period.

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Key Takeaways:

  • Global gypsum market is expected to reach US$ 7.8 Bn by the end of the forecast period growing at a CAGR of 6.2%.
  • Cement industry is key consumer of gypsum owing to its vital role in the building and construction sector.
  • East Asia is expected to lead the market in terms of production and consumption of gypsum owing to strong presence of end users in the region.
  • China is expected to be the dominant producer of crude gypsum, followed by the U.S.
  • India will emerge as a lucrative pocket amid rising construction of smart cities across various urban cities.

Competitive Landscape         

Key market participants in the global Gypsum market elaborated in the report includes Azko Nobel, Sherwin Williams Company, Asian Paints Ltd., Nippon Paints, Valspar Corporation, Jotun, BASF-SE, RPM International Inc., KANSAI Paints Co., Ltd., and Berger Paints.

Key gypsum producers are laying emphasis on expansion by establishing new plants that will help them to increase their production capacities and gain access to new distribution networks. Moreover, several manufacturers are engaged in strengthening their product portfolio by strategic acquisition and mergers to attract maximum consumer base.

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Gypsum Market by Category

By Product Type:

  • Natural
  • Synthetic

By End Use:

  • Cement
  • Drywalls
  • Plaster
  • Soil Amendment
  • Gypsum Blocks
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Propylene Carbonate Market to receive overwhelming hike US$ 463.7 Mn in Revenues by 2032

The global propylene carbonate market is anticipated to expand at a steady 6.3% CAGR over the forecast period between 2022 and 2032, finds Future Market Insights (FMI). Propylene carbonate is largely utilized as a solvent for the production of paints and coatings, cleaning solvent in the cleaning and degreasing industry, and as an electrolyte in Li-Ion batteries.

In recent years, companies are focusing on developing new materials with high purity levels at competitive prices. Propylene carbonate is utilized as a long-lasting and ‘green’ alternative for various chemical industrial solvents.

While due to its lower vapor pressure and negligible photochemical reactivity it is an effective substitute for toluene, acetone, NMP, and methyl chloride. Such aforementioned properties of propylene carbonate are expected to increase consumption concerning environmental regulations.

The worldwide propylene carbonate market is being driven by factors such as increased usage of propylene carbonate in industrial processes as solvents, increased demand for paints & coatings, personal care.

Also, growing usage as a cleaning solvent in gas treating and petrochemical applications to boost the market. Propylene carbonate is extensively used in lithium-ion batteries to improve polarity by forming a solvation shell around lithium ions. It is also used in the production of cosmetics like lipsticks, mascara, eye shadow, and other similar items.

Regionally, the market is anticipated to be dominated by East Asia, which is expected to continue in the future evaluation period. Backed by the aforementioned factors, the global propylene carbonate market is projected to top US$ 463.7 Mn by the end of 2032.

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Key Takeaways:

  • By product form, demand for aqueous propylene carbonate is expected to surge at a 4% CAGR over the forecast period.
  • The lithium-ion batteries & electronics segment is anticipated to grow at 7.5% CAGR during the forecasted period.
  • The personal care & cosmetics segment of the propylene carbonate market is anticipated to grow at a 7% CAGR through 2032.
  • The propylene carbonate market in the U.S. is anticipated to reach 6% CAGR by the end of 2032.
  • China will emerge as the most lucrative propylene carbonate market, with sales growing at a 2% CAGR over the forecast period

Competitive Landscape         

Key market participants in the global Propylene Carbonate market elaborated in the report include BASF SE, Huntsman International LLC., LyondellBasell Industries Holdings B.V., Shandong Shida Shenghua Chemical Group Co., Ltd., Linyi Evergreen Chemical Co., Ltd, SMC – Global and others are the leading players in the market

Key players operating in the global propylene carbonate market are focusing on increasing the utilization of propylene carbonate in paints & coating, personal care & cosmetics industries. However, some key players are focused to provide ultrapure propylene carbonate for li-ion batteries.

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More Insights into the Propylene Carbonate Market Report

In its latest report, FMI offers an unbiased analysis of the global Propylene Carbonate market, providing historical data from 2016 to 2020 and forecast statistics for the period 2022-2032. To understand the global market potential, its growth, and scope, the market is segmented based on Form (Aqueous and Pellet), By Application (Paints & Coatings, Cleaning & Degreasing, Personal Care & Cosmetics, Textile Dyeing, Lithium-Ion Batteries & Electronics, & Others) across six regions (North America, Latin America, Europe, East Asia, South Asia Pacific, And Middle East & Africa)

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About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Unit No: 1602-006
Jumeirah Bay 2
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Acrylic Acid Market Size Predictions : US$ 22.6 Billion by 2032

According to a recent study by Future Market Insights, the acrylic acid market is expected to reach US$ 22.6 Billion by 2032, up from US$ 14.6 Billion in 2022, expanding at a CAGR of 4.5%. Rise in demand for methacrylate-based polymers for the manufacturing of lighting fixtures, glazing, automotive rear lights, and electronic displays has witnessed significant growth, which in turn, represents prominent growth in the acrylic acid market over the analysis period.

Acrylic acid-based polymers have replaced conventionally used materials in major end-use industries, such as automotive, building and construction, electronics, and others. Acrylic acid-based elastomers such as AEM (Ethylene Acrylic Elastomers), are used as an alternative to synthetic rubber in various applications, such as an automotive gasket, hoses, and others.

In addition, owing to the improved properties of AEM, such as strength, and resistance, among others, there is an increasing demand for acrylic acid from the polymer industry during the forecast period. Additionally, the rise in demand for methacrylate-based polymers for the manufacturing of lighting fixtures, glazing, automotive rear lights, and electronic displays has witnessed significant growth, which in turn, represents prominent growth in the acrylic acid market.

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Key Takeaways from the Market Study

  • Global acrylic acid market was valued at US$ 14.6 Billion by 2022-end
  • The U.S to account for the highest value share of US$ 7.8 Billion of global market demand for acrylic acid in 2032
  • From 2015 to 2021, acrylic acid demand expanded at a CAGR of 2%
  • By Product, the acrylate esters category constitutes the bulk of Acrylic Acid Market with a CAGR of 6%.

Competitive Landscape

Players in the global acrylic acid market focus on expanding their global reach through various strategies, such as; partnerships, collaborations, and partnerships. The players are also making a significant investment in R&D to add innovations to their products which would help them in strengthening their position in the global market. Some recent developments among the key players are:

  • In August 2021, BASF and SINOPEC decided to expand their Verbund site operated by BASF-YPC Co. Ltd, a 50-50 joint venture of both companies in Nanjing, China. It includes the capacity expansion of several downstream chemical plants, including a new tert-Butyl acrylate plant to support the growing Chinese market.
  • In October 2020, Arkema successfully started a its new 90,000-ton acrylic acid reactor at its Clear Lake site in Texas to attract consumers from paints, super-absorbents, water treatment, and adhesives markets in North America.
  • In August 2018, BASF PETRONAS Chemicals announced the expansion of the production capacities of its acrylic acid and butyl acrylate plants in Kuantan, Malaysia.

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Know More about What the Acrylic Acid Market Repost Covers

Future Market Insights offers an unbiased analysis of the global Acrylic Acid Market, providing historical data for 2015-2021 and forecast statistics from 2022-2032.

To understand opportunities in the Acrylic Acid Market, the market is segmented on the basis of product, and end-use industry across five major regions.

Key Segments Covered In The Acrylic Acid Market Study

Acrylic Acid Market by Product:

  • Acrylate Esters
  • Glacial Acrylic Acid
  • Other Acrylic Acid Products

Acrylic Acid Market by End-Use Industry:

  • Acrylic Acid for Surfactants
  • Acrylic Acid for Organic Chemicals
  • Acrylic Acid for Adhesives & Sealants
  • Acrylic Acid for Textiles
  • Acrylic Acid for Water Treatment
  • Acrylic Acid for Personal Care Products
  • Acrylic Acid for Other End-Use Industries

Acrylic Acid Market by Region:

  • North America Acrylic Acid Market
  • Latin America Acrylic Acid Market
  • Europe Acrylic Acid Market
  • Asia Pacific Acrylic Acid Market
  • Middle East and Africa Acrylic Acid Market

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In Terms Of Overall Growth Contributions To Global Market For Test And Measurement Equipment, Asia Pacific Comes In Second To North America.

The global test and measurement equipment market is predicted to witness a moderate CAGR of 5.6% during the forecast period of 2022 to 2032. The test and measurement equipment market share is estimated to be worth US$ 32 billion in 2022, with a possibility of reaching a total valuation of US$ 54.9 billion by 2032.

All electronic gadgets and devices need to undergo the authentication test before they are released into the market. The demand for test and measurement equipment at the electronic manufacturing units for this purpose is set to rise in the coming years with the growing consumption of electronic and electrical gadgets.

Testing and measurement equipment aids in detecting any possibility of damage that can crop up during the lifetime of any physical good, thus enhancing the quality of the product and brand value of the company employing it. The test and measurement equipment market opportunities are likely to grow robustly in this context during the upcoming years.

The Test and Measurement Equipment Market’s Competitive Landscape

Major test and measurement equipment market players are arranging training and development programmes for their customers or end users as a major strategy to popularise their niche products. This method has improved their brand presence in the market, collaterally ensuing fierce competition among the test and measurement equipment manufacturers and distributers.

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Recent Developments in the Global Test and Measurement Equipment Market:

  • VIAVI Solutions released a new fibre test and measurement solution in March 2021 that enhanced the company’s most comprehensive fiber-optic testing offering.
  • Anritsu introduced the TRX TEST module, “MU887002A,” in March 2021, which is meant to enhance the efficiency of devices used for inspection of wireless communication gadgets in the production line.
  • Yogokawa released a number of test and measurement equipment in February 2021 for use in water treatment facilities. It includes the TB820D, which is a right-angle scattered light turbidity detector, and the non-reagent type free chlorine sensor ‘FC800D.’

Key Segments

By Services:

  • Calibration Services
  • After-Sales Service or Repair Service

By Product Type:

  • General Purpose Test Equipment
  • Mechanical Test Equipment

by Verticals:

  • Healthcare
  • Electronics and Semiconductors
  • Telecommunications and information technology
  • Defense and Aerospace
  • Transportation & Automobile
  • Government and Education

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The Performance of the Test and Measurement Equipment Market in Different Geographical Regions

In terms of market occupancy, North America leads the global test and equipment market. Further, in North America, the United States contributes the lion’s share with an overall test and measurement equipment market value of US$ 11.4 billion, estimated for the year 2022. With advances in autonomous driving technology and modern research fields, the general tendency of bigger players in the US has shifted towards more precise and quality products, further boosting the demand for test and measurement equipment.

Demand for such accuracy in products is predicted to drive the US test and measurement equipment market at an impressive CAGR and bring the market to a net worth of US$ 19.1 billion by the end of this forecast period in 2032.

The Asia-Pacific region follows the North American region in terms of total contribution to the global test and measurement equipment market growth. With the emergence of many test and measurement equipment key players in China, Japan, and South Korea following the booming electronics market, this region is predicted to grow rapidly during the upcoming years.

China’s test and measurement equipment market leads the Asia-Pacific region with a net worth of US$ 2.4 billion, estimated for the ongoing year 2022, and is projected to reach a total valuation of US$ 3.9 billion by the end of the year 2032.

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Industrial Air Compressor Market – The global industrial air compressor market is expected to be valued at US$ 33.3Billion in 2022. With the increasing use in end-use industries the demand for industrial air compressors is projected to grow at a CAGR of 3.8% between 2022 and 2032, totaling around US$46.6 Billion by 2032.t

Industrial Automation Market – The global Industrial Automation Market is expected to have a significant CAGR of 7% during the forecast period to reach a valuation of US$ 77 Bn by 2032, up from US$ 36 Bn in 2021.

Solar Inverter Market – The global solar inverter market is forecast to grow year-on-year by 5.0% in 2022, reaching a valuation of about US$ 11 Bn in 2022. Increasing adoption of renewable energy sources for residential and commercial spaces is expected to fuel solar inverter sales at a 6% CAGR over the forecast period.

About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10 years.

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North American Heat Recovery Steam Generator Market Growing At A Modest 4.4% CAGR

The market for Heat Recovery Steam Generators will surpass US$ 1.1 billion in 2021. The demand for energy-efficient power generation solutions and rising investments in enhancing power plant efficiency are identified as the main growth drivers.

These factors are expected to cause the market to expand steadily at a CAGR of 5.7%, with the U.K., the U.S., Germany, and Japan emerging as major producers.

Heat Recovery Steam Generator Market Expand Across the U.S.

According to a market survey conducted by FMI, the North American market for heat recovery steam generators is expected to grow at a modest 4.4% CAGR over the next few years, with the U.S. expected to experience strong demand. Sales of heat recovery steam generators in the United States will continue to increase thanks to a strong renewable energy infrastructure and a demand for environmentally friendly, economically viable energy solutions.

Additionally, a number of government-sponsored programmes to encourage the use of renewable energy will improve growth prospects in the market for heat recovery steam generators. For eligible renewable energy technology and projects, the federal government of the United States offers tax credits, grants, and loan programmes.

These incentives include the Residential Energy Credit (REC), the Investment Tax Credit (ITC), the Modified Accelerated Cost-Recovery System, and the Renewable Electricity Production Tax Credit (PTC).

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In addition, loans and grants are accessible from various government organisations, including the US. United States Department of Energy (DOE) U.S. Department of Agriculture and Office of the Interior. Additionally, a number of American states provide financial incentives to encourage and support the installation of renewable energy equipment.

The market for heat recovery steam generators in the United States is anticipated to benefit from the aforementioned factors.

Rising Adoption of Combined Cycle Power Plants Influence Heat Recovery Steam Generator Demand

Advanced energy systems may increase efficiency and improve sustainability by reducing environmental impact. These systems have been encouraged by rising energy demand and an alarming rise in greenhouse gas emissions. In recent years, there has been a tremendous amount of interest in the use of renewable energy, waste heat recovery, and combined cycle power generation. Many industrial processes produce waste heat, which can be utilised by a heat recovery steam generator system to produce electricity.

There are many uses for heat recovery steam generators, but combined cycles are increasingly popular. In combined cycles, waste heat from gas turbine exhaust gases is transferred to water to produce steam for the Rankine cycle, which produces electricity. A gas turbine that exhausts into a steam generator with heat recovery is used in the simplest forms of combined cycles. The most effective method of power generation at the moment, the heat recovery steam generator provides steam to steam turbine cycles to generate electricity.

It has been discovered that heat recovery steam generators have a significant impact on the economic and technical operation of combined cycles, and that combined cycles can improve efficiency, economic, and environmental aspects of power production through gas turbine cycles. Comparing combined cycles to conventional fossil-fired power plants, these advantages include high overall plant efficacy, low investment costs, better operational flexibility, and phased installation.

A great source of clean energy, gas-burning combined cycle plants are also perfect for use in densely populated areas due to their high efficacy and low emission levels. Additionally, combined cycle plants’ favourable thermodynamic characteristics make it easier to generate heat and electricity simultaneously. Combining increased output with high cycle efficiency, low emission levels, and lower investment costs makes combined cycle power generation very appealing.

As essential parts of combined cycles, heat recovery steam generators will see lucrative sales opportunities in the coming years as combined cycles are increasingly used for energy production.

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High Installation Costs Might Stunt Heat Recovery Steam Generator Market Growth

Heat recovery steam generators offer cost-effective advantages, but they can be expensive to install, which could limit the market’s growth potential. Low-quality waste heat is produced during industrial processes, and it can be challenging to use all of the low-quality heat that is present in the waste heat medium. Due to the additional equipment needed as a result, costs are greatly increased.

Additionally, not all industries can use heat-recovery steam generators. For instance, the manufacturing of chemicals, cement, sulfuric acid, and cabin rotary kilns all generate significant amounts of high-temperature waste heat. The full potential of heat recovery steam generators can be utilised in this situation to increase energy savings.

Heat recovery steam generators can, however, be more expensive to install and maintain for businesses that generate little waste heat.

Heat Recovery Steam Generator Market by Category

By Design Type: 

  • Modular Construction
  • C-Section Construction
  • Bundle Construction
  • Fully Assembled

By Configuration Type:

  • Horizontal Drum Units
  • Vertical Drum Units
  • Horizontal-Once Through Units

By Output Power Type:

  • 0-60 MW
  • 60-100 MW
  • 100 MW & Above

By Application Type:

  • Co-generation (Process Heating)
  • Combined Cycle
  • Combined Heat & Power (CHP)

By Region, the Heat Recovery Steam Generator Market is segmented as: 

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • China
  • Japan
  • India
  • South East Asia & Others (SEA)
  • Middle East & Africa (MEA)

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Commercial Refrigeration Equipment Market – 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.

Solar Micro inverter Market – Global demand for solar microinverter is expected to at a CAGR of 18.1% from 2022 to 2032, reaching a valuation of US$ 5,716.0 Mn by 2032.

High Pressure Processing Equipment Market – The global high pressure processing equipment market size is anticipated to surpass the value of USD 430 Mn, while recording a CAGR of 12.3% in terms of volume from 2016 and 2026

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Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10 years.

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Comprehensive Research Study And Strong Growth In The Ultrasonic Flow Meter Market By 2032

Ultrasonic flow metres use ultrasound to compute the volume flow by measuring the velocity of a fluid. Ultrasonic flow metres are classified as transmission flow metres, open-channel flow metres, and Doppler flow metres. Ultrasonic flow metres are used to measure liquids like molten water, sulphur, chemicals, and cryogenic liquids that enable ultrasonic waves to pass through them. Water and wastewater, oil and gas, chemicals, power, pharmaceuticals, food and drinks, pulp and paper, metals and mining are all industries that use ultrasonic flow metres.

Manufacturers in the ultrasonic flow meter market review are focusing on competitive pricing as the strategy to capture significant market share. Moreover, strategic merger and acquisitions and technological innovations are also the key focus areas of the manufacturers.

Ultrasonic Flow Meter Market- Competitive Landscape

  • Titan Enterprises has introduced new software functionality for its MetraFlow and Atrato ultrasonic flow meters to provide customers to move the measurement window to ensure measuring at the optimal point of signal.
  • TASI Group has acquired Sierra Instruments and ONICON. The products offered by ONICON include ultrasonic flow meters, turbine flow meters, energy meters, airflow meters, transmitters and sensors. While Sierra Instruments offers liquid, gas and steam flow meters, flow and level switches, digital mass flow meters and controllers and flow calibrators.

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Ultrasonic Flow Meter Market Dynamics

Upgradation and Modernization of Refineries to Propel Demand for Ultrasonic Flow Meters

Ultrasonic flow meters are extensively used in the oil refineries, especially in crude oil metering. The need to measure crude oil at various steps during its movement from extraction to the production facility is driving demand for ultrasonic flow meters. Moreover, existing oil refineries are increasingly focusing on upgradation and modernization of refineries which will result in the growing demand for ultrasonic flow meters.

Developing nations across the globe are increasingly investing in the development of refineries. For instance, BPCL, EIL, IOC, and HPCL have announced developing the biggest refinery in India on the west coast which is projected to cost US$ 30 billion. Rise in the capacity of refineries in developing countries is likely to boost the demand for ultrasonic flow meters.

Manufacturers Developing Portable and Handheld Ultrasonic Flow Meters

Manufacturers in the ultrasonic flow meter market are focusing on providing industry-the specific solutions. New ultrasonic flow meters are being developed with the features as per the requirement of specific industry. Meanwhile, handheld ultrasonic flow meters are finding wide application in measuring dirty fluids and slurries for the chemical, water treatment, and food processing industries.

Manufacturers are also focusing on developing portable ultrasonic flow meters using both transit time and Doppler technologies to measure flow and velocity of liquids. These portable ultrasonic flow meters are witnessing huge demand from the petrochemical and refinery industries to carry survey work in remote locations. Meanwhile, in recent years, solar-powered ultrasonic flow meters have also gained traction owing to the increasing disparities between the demand and supply of electricity.

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  •   Comprehensive analysis on evolving purchase pattern across different geographies
  •   Detailed insights of market segments and sub-segments for historical as well as forecast period
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  •   Detailed information about the product innovation, mergers and acquisitions lined up in upcoming years

Ground breaking research and market player-centric solutions for the upcoming decade according to the present market scenario

Ultrasonic Flow Meter Market Segmentation

Based on the type, the ultrasonic flow meter market is segmented into

  • Insertion
  • Clamp-On
  • Inline

Based on the technology, the ultrasonic flow meter market is segmented into

  • Transit Time – Multipath
  • Transit Time – Single/Dual Path
  • Hybrid
  • Doppler

Based on the fluid type, the ultrasonic flow meter market is segmented into

  • Gas
  • Petroleum Liquids
  • Non-petroleum Liquids
  • Steam

Based on the number of paths, the ultrasonic flow meter market is segmented into

  • 3-path transit time
  • 4-path transit time
  • 5-path transit time
  • 6 or more paths transit time

Based on the supply channels, the ultrasonic flow meter market is segmented into

  • Independent Representatives
  • Direct Sales
  • E-Business
  • Distributors

Based on the customer type, the ultrasonic flow meter market is segmented into

  • OEMs
  • Engineers/Consultants
  • End-Users
  • Resellers
  • Systems Integrators

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor  the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Low Voltage Motor Market Is Anticipated To Reach $75 Billion Between 2022 And 2032.

Global demand for low voltage motors is expected to be worth US$ 39.1 billion in 2022, rising at a CAGR of 6.7 percent to US$ 75 billion by 2032. Extensive industrialization in a range of areas, as well as the ability to reduce the likelihood of equipment failure, will create excellent opportunities for growth in the low-voltage motors business.

The low voltage motors are extensively being used in several industries such as mining, food & beverages, oil & gas, automotive, packaging, etc., driven by the profuse growth in industrialization and steadily rising demand for energy across the globe. These are the motors that run at voltages less than 1000 V and generate maximum power that aids to improve productivity, and quality and saving energy.

Various motor efficiency legislation adopted around the world is expected to boost the global low voltage motor market over the forecast period. Manufacturers are required to use more expensive and energy-efficient motors as a result of these laws.

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During the projected period, the worldwide low voltage market is expected to develop at a single-digit CAGR, with great potential in the next 4-5 years. To improve their production process, most manufacturers are increasingly focused on advanced technology and quality low voltage motors, which has resulted in an increase in demand for advanced low voltage motors.

Global Low Voltage Motor Market: Drivers & Restraints

With rise in technological advancement, increasing demand for machinery across the world and advantages offered by low voltage motors due to its efficient nature, the global low voltage motor market is anticipated to show the robust growth during the forecast period. The growing consumption of low voltage motors by end-user industries will continue to drive the growth in low voltage market over the forecast period.

In addition, stringent motor efficiency legislation and retrofits due to aging equipment are expected to impact the global low voltage motor market in a positive way.

Global Low Voltage Motor Market: Regional Outlook

Depending on geographic regions, the global low voltage motor market is segmented into seven key regions: North America, Latin America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. As of 2014, Asia Pacific dominated the global low voltage motor market owing to the growing consumption of low voltage motors by the automotive and electronics industry, in this region. In addition, China is the largest country market for low voltage motors in Asia Pacific and is poised to show strong opportunities for low voltage motors in near future. After Asia Pacific North America is projected to show vigorous growth in global low voltage motor market, especially due to the increasing demand of low voltage motors in countries like US and Canada, during the forecast period.

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Global Low Voltage Motor Market: Market Players

Some of the major players operating in the global low voltage motor market are ABB, TECO-Westinghouse Motor Company, Siemens, Hyosung Power and Industrial Systems Performance Group, Anhui Wannan Electric Machine, ATB Group, Leroy Somer, LEZ Ruselprom, Luan JiangHuai, NIDEC, Regal Beloit, Shandong Huali Electric Motor Group, GE Industrial, Toshiba International, WEG, VEM Group, etc.

The report covers exhaustive analysis on:

  • Low Voltage Motor Market Segments
  • Low Voltage Motor Market Dynamics
  • Low Voltage Motor Market Size
  • Low Voltage Motor Market Supply & Demand
  • Low Voltage Motor Market Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Low Voltage Motor Technology
  • Low Voltage Motor Market Value Chain

Regional analysis includes

  • North America (U.S., Canada)
  • Latin America (Mexico. Brazil)
  • Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, ASEAN, Australia & New Zealand)
  • Japan
  • Middle East and Africa (GCC, S. Africa, N. Africa)

The report is a compilation of first-hand information, qualitative and quantitative assessments by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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Key Segments Profiled in the Low-voltage Motor Industry Survey

Product Type:

  • IE1 Low-Voltage Motors
  • IE2 Low-Voltage Motors
  • IE3 Low-Voltage Motors
  • IE4 Low-Voltage Motors

End-User Industries:

  • Low Voltage Motors for Food & Beverages
  • Low Voltage Motors for Mining
  • Low Voltage Motors for Automotive
  • Low Voltage Motors for Electronics
  • Low Voltage Motors for Textile
  • Low Voltage Motors for Other End User Industries

Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East & Africa

About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Future Market Insights, Inc
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For Sales Enquiries: sales@futuremarketinsights.com
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