Market Research Blog – Page 10325 – New Product Development

Floral Extract Market is Expected to Generate Huge Profits by 2029

The floral extract market size is expected to reach USD 2.6 billion in 2022, likely to surge at a vigorous 5.1% CAGR during the assessment period. The report opines that the floral extract market is likely to exhibit a promising growth over the next decade, prominently driven by growing consciousness about health & wellness, especially among millennial demographic, who are constantly rejecting conventional products and shifting to natural products.

As ‘green beauty’, ‘clean beauty’, or ‘natural beauty’ is fast becoming an industry buzzword, cosmetics manufacturers are voluntarily ceasing the use of toxic chemicals and disclosing the ingredients in their products.

The expansion of floral extract market has been working in tandem with greater awareness of natural cosmetics among the consumers and a rising number of celebrities exploiting the ill effects of conventional skincare and makeup on social platforms.

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Floral Essential Oils Hold Significant Shares, Absolutes to Witness Rising Demand

While floral essential oils continue to influence the growth strategies, with revenue share of 65% in 2018, manufacturers are focusing on increasing the production of absolutes to capitalize on growing demand for premium fragrances and perfumes. On the one hand, floral concentrates will continue to represent relatively low share as compared to the two types of floral extracts, according to the report.

Apart from serving as a natural ingredient in cosmetic and personal care products, floral extracts possess multi-functional properties such as medicinal and colorant, thereby increasing its application potential in the industry. The study forecasts that the sales of natural floral extracts to increase ~5% y-o-y in 2019, while rapid adoption of organic variants is likely to result in increased market share.

Increased awareness about health & skincare beneficial products along with rising acceptance of organically sourced products will continue to fuel the growth of floral extract market, as suggested by FMI’s analysis.

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High Growth Opportunities Abound in East Asia

Regions such as Europe & North America are expected to hold prominent market shares in terms of value. However, the East Asia market for floral extract is expected to project lucrative growth over the forecast period of 2019-2029. Gains will remain propelled by the rapid growth of the cosmetic industry in the region, in the view of growing inclination towards personal grooming and increased disposable income available for purchasing high-end products.

According to the FMI’s research, a majority of key players in floral extract market are directing their investments in R&D on extraction techniques. While distillation and solvent extraction methods are widely adopted for various flowers, manufacturers are targeted towards supercritical fluid extraction method that not only reduces the energy consumption but also eliminates residual solvent in the resulting extracts.

Significantly high application potential of floral extracts is identified in fragrances, which accounted for ~42% in 2018. The rise of vegan perfumes in line with strong desire for cosmetics and fragrances to be cruelty-free will contribute to the overall sales of floral extract. Manufacturers are further exploring the capabilities of floral extracts as colorant and fragrance enhancer in skincare products as well as body care & toiletries.

Sensing an increase in direct sourcing of floral extracts to avoid intermediates in the supply chain, manufacturers are focusing on deepening their collaboration with cosmetic producers. In addition, leading players in the floral extract market are aiming to introduce their own product line of cosmetics and personal care.

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Global Floral Extract Market by Category

By Extracts:

Concretes
Absolutes
Essential Oil

By Nature:

Organic
Natural

By Source:

Jasmine
Rose
Lavender
Tuberose
Mimosa
Marigold
Lotus
Ylang Ylang
Frangipani
Chmapaca
Others

By Method:

Solvent Extraction
Distillation
Expression (Cold Pressed)
Supercritical Fluid Extraction

By Application:

Skincare
- Creams, Lotion
- Facial Cleansers & Toner
- Serum
- Sunscreen
- Facepacks/Masks
- Anti-Ageing & Anti-Pollution Products
Haircare
- Shampoos & Shower Gel
- Conditioner & Serum
- Hair Rinses
- Hair Color & Dye
- Hair Oil & Tonics
Makeup
- Facial Products
- Eye Products
- Lip Products
- Nail Products
Body Care & Toiletries
- Soap
- Body Wash
- Massage & Bath Oil
Fragrances
- Perfumes
- Deodorants
- Colognes

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
MEA

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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.

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Diaper Rash Cream Market is Predicted to Advance at a CAGR of 6.4% From 2022-2032

The global diaper rash cream market size approximately US$ 676.6 million market for diaper rash cream is likely to demonstrate strong growth potential during forthcoming years. According to a recent research study of Future Market Insights (FMI), the global sales of diaper rash cream will see a healthy 6.4% increase in 2019, prominently driven by the ‘infants’ segment. More than 3/4th of overall demand for diaper rash cream is accounted by the infant care segment, says FMI in the report.

Household applications account for more than 70% of diaper rash cream sales, followed by sales in hospitals and clinics. However, FMI’s research suggests that the diaper rash cream market in day care centres will rise rapidly in the next years. Following medicine stores and pharmacies as the primary sales channels for diaper rash cream, supermarkets and hypermarkets are gaining traction as well. The combined market value of both sectors is expected to reach more than half of the entire market value in 2019.

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The “Free-from” Trend Is Invading Diaper Rash Cream Market

According to expert pediatric dermatologists, more than half of babies suffer from diaper rash at some point of time. While this remains the key factor underpinning demand for diaper rash cream, the over-the-counter availability also make diaper rash cream an increasingly selling product in the personal care space, particularly in the skin care industry.

Diaper-wearing adults, as well as parents of infants and toddlers, are increasingly gravitating toward diaper rash cream and associated products that include only natural and organic active ingredients. The trend toward free-from synthetic compounds and scents, as well as paraben-free compounds and other safe chemicals, is sweeping the personal care market, boosting sales of organic diaper rash cream. Organic compounds are key constituents in more than 65 percent of total diaper rash cream consumed, according to the FMI analysis.

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Key Manufacturing Players Are Focused on “Low/No Synthetic Ingredients”

It has been observed that some of the key manufactures of diaper rash cream are engaged in developing formulations based on plant-based and herbal sources, which potentially comprise of low or no synthetic ingredients. They will be focused on the entire allergen list, including silicones, parabens, and phthalates among others.

Use of petroleum and zinc oxide as an effective barrier to moisture creation inside diapers will remain one of the key strategies among competitors actively partaking in the diaper rash cream industry’s landscape. However, regulation of the percentage of such compounds to prevent potential adverse effect on skin will be a longstanding concern facing manufacturing companies.

Moreover, clinically and dermatologically tested and certified diaper rash cream products launched by companies, will experience soaring traction in the near future, suggests the report. Top brands in the baby care products landscape are also likely to strategize on brand exposure, aggressive marketing, and increased outreach to multiple sales channels, to beat the intense competition.

The report further highlights that more consumer proclivity for organic, plant-based extracts as key active ingredients will translate into rapid consumption of compounds such as jojoba and other essential oils, and honeysuckle, by R&D units of the companies, manufacturing diaper rash cream and related products.

Currently, the limitation of downstream market is among the most challenging factors hampering diaper rash cream market growth. While companies are capitalizing on the consistently increasing birth rates in developing economies, on the flipside, developed regional markets are highly likely to face a plunge owing to considerably falling rate of births.

Some of the key participants profiled in the global diaper rash cream market report include Bayer AG, Unilever, Chicco USA, Tubby Todd Inc., Beiersdorf Inc., Sebapharma, The Himalaya Drug company, Babo Botanicals LLC, Johnson & Johnson, The Honest Company, Inc., Summer Laboratories, The Natural Baby Company, LLC, Prestige Consumer Healthcare, Inc., Dani Kenney Co., Earth Mama Organics Company, and Weleda Company.

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global Diaper Rash Cream market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.

By Ingredient

Organic
Conventional

By End User

Infants
Adults

By Application

Household
Hospitals and Clinics
Day Care

By Sales Channel

Hypermarkets/ Supermarkets
Specialty Retailers
Multi-brand Stores
Drug Stores and Pharmacies
Online Retailers
Others

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Baby Toiletries Market is Valued at US$ 10.6 Bn, And Expected to Grow at 4.9% CAGR

The baby toiletries market size is valued at US$ 10.6 Bn in 2021. It is set to grow at 4.9% CAGR through 2027.

The global baby toiletries market has been surging in terms of value sales over the past couple of decades, and this can be attributed to growth in the demand for various baby care products around the globe, which include baby toiletries.

With a rise in the number of parents concerned about the hygiene of their new-born babies, the manufacturers of baby toiletries have been specially focusing on catering to the needs and demands of their target customers. This has resulted in a tremendous evolution in the baby toiletries market in terms of product offerings and the quality of the base material that is being used for production of baby toiletries.

According to a market report published by Future Market Insights titled ‘Baby Toiletries Market: Global Industry Analysis 2013-2018 and Opportunity Assessment 2019-2027,’ the revenue generated from baby toiletries is estimated to be valued at over US$ 8,457.7 Mn in 2017, which is projected to increase at a CAGR of 4.9% during the forecast period (2019-2027).

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With a rise in the premiumisation trend, the manufacturers of baby toiletries as well as customers are focusing more on value and the quality of products and not on the price. As a result, the global baby toiletries market is entering into various untapped segments such as the organic market.

In 2016, Johnson & Johnson one of key player in baby toiletries market, re-launched its baby care business owing to the fact that progressive parents are more in favour of organic products. The company is now more inclined towards using natural and organic products as ingredients for the production of baby toiletries.

Owing to an increase in the demand for various baby toiletries products, several major manufacturers in the global baby toiletries market have been aiming at expanding their operations in international markets, whereas other players in the baby toiletries market have been introducing new & innovative baby toiletries from time to time. For instance, in 2017, Unilever group’s Dove brand launched a new line of baby toiletries.

In the following year, Procter & Gamble launched a new line of natural baby care products including several baby toiletries under the brand name of Pampers Umbrella. In 2016, Kimberly-Clark, one of the marquee players in the global baby toiletries market, expanded its manufacturing facility in Singapore by two new lines for the production of baby toiletries such as Huggies baby wipes and diaper pants, with the help of advanced and automated technology.

In 2011, the Kimberly – Clark announced the establishment of a Global Innovation Centre in Bogota, Colombia, the first facility of its kind in the region, in the view of introducing with new and innovative baby toiletries.

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Moreover, increasing population and rise in the adoption of e-commerce for selling products globally has led to a surge in the growth of B2C businesses in various domains. Over the years, there has been a drastic change in consumer behaviour, and an increasing number of consumers are seeking products online, and purchasing various products, such as FMCG products, clothes, baby toiletries and others, through e-commerce.

As a result, majority of baby toiletries companies have started using the online channel as a platform to promote as well as sell their products. For instance, in 2010, Procter & Gamble went online by launching its own website ‘eStore site,’ which sells as well as provides detailed specifications of its baby toiletries and other product offerings.

Similarly, Huggies Philippines, another key player in baby toiletries market, launched the ‘Expert Panel,’ a new online consultation portal designed to guide new and experienced moms through their maternity and motherhood phase with expert advice on baby care.

Hence, the online channel has been considered to be one of the influential factors driving the demand for the global baby toiletries market. In 2018, Beiersdorf, one of the key players in the baby toiletries market, announced its alliance with a leading Chinese online retail platform, NetEase Kaola, to promote its baby toiletries in the global market.

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Key Players in the Baby Toiletries Market

Detailed profiles of baby toiletries companies are also included in the global baby toiletries market report to evaluate their strategies, key product offerings and recent developments. Some of the key players profiled in the global baby toiletries market study include The Procter & Gamble Company; Johnson & Johnson Consumer Inc.; Kimberly-Clark Corporation; Artsana S.p.A.; California Baby; Unilever group (Dove); Beiersdorf, Inc.; Galderma Laboratories, L.P.; Nature’s Baby Organics; Laboratoires Expanscience; Weleda, Inc.; DR. Fischer Ltd.; Earth Mama Organics; DCS Group (UK) Limited; Wordsworth UK Limited; Premier English Manufacturing; DeltPak Pty Ltd.; Ekko International Pty Ltd.; Ampar International and Premier Care Industries.

Baby Toiletries Market Key Segment

By Based on product type

baby shampoo
baby wipes
baby toothpaste
baby bath additives
baby soaps

By Based on potential end users

new born
infants
toddlers

By Based on sales channel

distributors/wholesalers
hypermarket/supermarket
specialty store
convenience store
online retailer

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Water Sink Market – Dominance of the Leading Companies Over the Global Industry

The water sink market size is expected to surpass a valuation of US$ 45.9 Bn in 2022 and at a CAGR of approximately 2.9% through 2027.

Over the years, the global water sink market has evolved tremendously in terms of product offerings and quality. With a stream of smartphones and upgraded electronic equipment gaining traction among the target segments, the global water sink market is striving to offer efficient services.

In the premier segment, the new generation of smart sinks provide additional services such as the dispensing of liquid soap and water, drying out one’s hands, etc. The AER-DEC Integrated Sink System by Sloan is an example of a smart water sink that is being designed to be efficient as well as hygienic.

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The consumers of today are more inclined to nature-based interior designs that give the perception of a more spacious and authentic look from the inside. Hence, most water sink manufacturers are aiming at creating nature-oriented water sink products for households as well as commercial segments.

For instance, vessel water sinks and traditional farmhouse water sinks have become among the most preferred water sink products among target customers. Hand-carved stone on water sinks provide a splendour touch to the products and provide a lasting impression in the minds of consumers.

As customers are confused while choosing the colours of water sinks, there has been an increase in the preference for monochrome style kitchens and bathrooms, which keep the black and white colours consistent. Matte black is another upcoming colour used in bathroom faucets, hardware as well as water sink products as it provides an overall natural and luxurious look.

Key Takeaways from the Water Sink Market Study

Consumers want to keep the interiors of their homes looking good to spread positive energy, therefore they maintain the interiors of their kitchens and bathrooms as well to improve comfort and cleanliness.
As a consequence, installing modernised water sinks in bathrooms and kitchens aids in meeting the varied tastes and requirements of target clients.
Online platforms provide for the advertising of goods and services as well as their simple delivery to the intended clients, therefore this sales channel is predicted to grow.
Additionally, it is anticipated that the worldwide market for water sinks would see an increase in sales due to technical improvements in the industry.

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Impact of COVID-19 on the Market

The COVID-19 epidemic impacted various industries worldwide, even the kitchen fixtures industry. The kitchen fixtures market saw a decline in demand in the mid-months of 2020, due to government restrictions imposed globally, furthermore closure of manufacturing plants disrupted the overall supply chain.

However, despite of the slowdown in the initial months of the year 2020, the kitchen fixture market saw a surge in demand during the last months of 2020 due to increasing commercial as well as residential projects. Besides this, the growing penetration of disease further encouraged the government organizations especially in the developing countries, to take hygiene factor into serious consideration in various public areas.

The government bodies have already proposed the installation of public toilets and other fixtures wherever necessary. Thus the installation of such public toilets and bathroom are likely to trigger demand for various water sink products especially drop-in water sinks.

Who is winning?

Leading manufacturers of water sink are focused on aggressive promotional strategies and advertisements that have driven sales growth of water sink globally.

Major players present in the water sink market are Blanco America, Inc., Crown Products (Kent) Limited, Elkay Manufacturing Company, Franke Kitchen Systems, LLC, Huida Sanitary Ware Co., Ltd., JULIEN INC., Kohler Co. (Sterling), Kraus USA INC., LIXIL Corporation (American Standard Brand), Moen Incorporated, Mountain Plumbing Products, Roca Sanitario, S.A., ROHL LLC., Schock GmbH, Stern-Williams Co. Inc., among others.

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Global Water Sink Market By Category

By Product Type :

Drop-in Water Sink
Pedestial Water Sink
Top Mount Water Sink
Undermount Water Sink
Wallmount Water Sink
Others

By Base Material :

Fireclay
Stainless Steel
Cast Iron
Copper
Quartz
Others

By End Use :

Household
Commercial
- Foodservice
- Healthcare
- Hospitality
- Corporate & Government Offices
- Educational Institutes
- Public Toilets
- Shopping Malls
- Clubs &Resorts
- Others

By Sales Channel :

Wholesalers/ Distributors
Specialty Stores
Multi-brand Stores
Direct Sales
Online Retailers
Other Sales Channel

By Region :

North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East & Africa

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Market for Telehandlers to Reach $6,247.6 Billion by 2030 | Future Market Insights

Future Market Insights (FMI) predicts that the global telehandlers market will increase by 4.7% annually in 2022, reaching a value of about US$ 4,210.6 Mn by the year’s end. The demand for telehandlers in infrastructure and construction development projects is increasing. Telehandlers are used by customers in the manufacturing, mineral processing, and mining industries. They have a wide range of applications and the ability to hold a variety of attachments.

The employment of telehandlers in material handling space with their versatility and safe technology is driving global sales, according to a new report by Future Market Insights (FMI). Telehandlers have evolved from basic landscaping and farming equipment to much more sophisticated construction equipment. Manufacturers of telehandlers invest heavily in R&D to develop and incorporate changes into their product line.

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Telehandlers are set to be the first machinery that can be deployed at operation sites for material handling without prior ground preparation due to the multipurpose features that allow them to perform the tasks of cranes, loaders, and access equipment in a variety of industries.

While the United States and Europe were early adopters of telehandlers, future growth will be dependent on demand from China, India, Brazil, the Gulf Cooperation Council, and countries with upcoming megaprojects.

Tech-driven performance and dependence in tandem with a total cost of ownership (TCO) possess the better value of money over long run.

End-users, seeking customized solutions at a slightly higher prices, will find value addition in telehandlers as overall machine expense and its utilization in projects will justify customers’ initial investment in the machinery.

Key Takeaways of Telehandlers Market Study

Worldwide sales of telehandlers to surpass US$ 6 Bn in 2030
Manufacturers to reap substantial gains from telehandlers having maximum lift height of 30′-60′
‘Electrification’ and ‘lightweighting’ to emerge as disruptive forces in global market
The US and Europe remain the most lucrative markets

“Telehandlers are equipped with an array of attachments including, jib and crane, pallet fork, tire handlers, and re-handling multi-purpose buckets, and these attachments are transforming continuously as the cab continues to explore potential application avenues,” says analyst at FMI.

COVID-19 Impact on Telehandlers Market

The COVID-19 pandemic has had immediate repercussions on the global economic order and that effect goes across every industry, including construction. Worldwide construction growth has slumped to 0.5% CAGR from the expected 3.1% for 2022.

Constructional projects have been delayed, and manufacturing operations have been ceased due to nationwide lockdowns amid the COVID-19 crisis. With steep drop in operations in construction and manufacturing sites, demand for telehandlers has been severely affected.

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Telehandlers Market – Competitive Intelligence

The global telehandlers market is highly consolidated with prominent players capturing about two-fifths of overall market value. Manufacturers are developing telehandlers armed with new features in an effort to lock in customers and achieve economies of scale. For instance,

JCB has rolled out its new telehandlers – Hydraload 555-210R – with rotating telescopic handler. The machine comes with maximum lifting height of 20.5 m and maximum lift capacity of 5.5 tons
Xtreme Manufacturing has introduced telehandlers that exhibit 17,000-pound capacity. The telehandlers are armed with the company’s novel modular cab design that allows them to be simply switched from open to enclosed, or vice versa, with an optional gear. This offers customers with enhanced flexibility while running telehandlers in several environments

To Know More About Telehandlers Market:

A new market research report published by Future Market Insights (FMI) on the global telehandlers market report offers comprehensive insights into the market demand trends and analysis of opportunities over the forecast period, 2022-2030. The report examines the telehandlers market through three different segments – maximum lift height, ownership, and region.

The telehandlers 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 telehandlers and product adoption across several end-use industries.

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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A Thorough Analysis, Growth Plans, And Forecast Of The Hydraulic Gear Pumps Market Through 2022 Are Provided

Hydraulic gear pump sales continue to grow strong with the construction industry’s growth, sustained automobile sales, and adoption by mining industry operators. A recent Future Market Insights (FMI) study projects a steady growth outlook for the global hydraulic gear pumps market, reaching the valuation of US$ 2.5 Bn at the end of the forecast period.

Greater emphasis on upgrading existing pump models to enhance their energy efficiency quotient will mark an important trend in the hydraulic gear pump market. High manufacturing costs however remain a longstanding challenge limiting the rapid growth of the hydraulic gear pumps market, says the FMI study.

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However, due to the COVID-19 crisis, several production facilities are shuttered and workforce shortages prevail. This scenario is further complicated by undersupply of raw materials and supply chain disruptions. Moreover, the direct impact of the halted progress of all end-use industries is negatively impacting the growth of the hydraulic gear pump market.

Key Takeaways of Hydraulic Gear Pumps Study

External gear pumps will be the top selling category through 2030
Sales remain concentrated in East Asia and Europe
A third of total sales will be accounted for by hydraulic gear pumps with an operating pressure of 150 – 250 towards the end of 2030
End users are inclined toward specialist distributors that provide engineering expertise, aftersales services, and end-to-end solutions to meet the specific demands of customers

Material handling equipment plays a vital role in lean supply chain management and it is gaining traction owing to the evolving outlook of transportation and logistics across the globe. Manufacturers of hydraulic gear pumps thus need to align their product offerings with the changing material handling equipment requisites.

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Increasing Adoption of Agriculture and Forestry Equipment

The agricultural sector is also a significant end-user shaping up the market for hydraulic gear pumps. The demand is expected to increase for agricultural applications. A majority of manufacturers in the global hydraulic gear pump market are following the trends of manufacturing and providing hydraulic gear pumps specifically for agricultural and farming equipment.

Competitive Landscape Analysis

The hydraulic gear pump market represents a fairly fragmented market structure, owing to the presence of a large number of hydraulic gear pump suppliers across the globe. Eaton Corporation, Parker-Hannifin Corporation, and Bucher Hydraulics GmbH remain some of the market leaders, operating with medium to high-level global presence. Top 10 market participants in the hydraulic gear pumps landscape currently account for more than 30% revenue share and prefer to concentrate on strategic collaboration agreements with regional leaders in the distribution space. New regional distributorships will enable them to gain a competitive advantage while introducing new offerings to newer regional markets.

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According To FMI, The Size Of The Clad Pipe Market Is Anticipated To Create An Incremental $ Opportunity Worth Close To US$ 34.5 Bn.

The clad pipe market Size is expected to create an incremental $ opportunity worth nearly US$ 3454.4 Mn during the forecast period, expanding with a CAGR of 5.6%. They are mostly used in the offshore oil & gas industry in high temperature and high-pressure conditions as they exhibit high corrosion resistivity. Clad pipes are special corrosion-resistant pipes made by bonding carbon steel pipes with corrosion-resistant alloys (CRAs) to withstand highly corrosive environments.

Clad pipes are known to be special corrosion-resistant pipes that are made by bonding carbon steel pipes with corrosion-resistant alloys (CRAs) to withstand highly corrosive environments. The global clad pipe market is estimated to register a CAGR of 5.6% during 2018-2028. The Middle East and Africa, Western Europe and South East Asia & Pacific clad pipe markets are estimated to account for significant value shares by the end of the forecast period.

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The average volume per year has been expressed in volume in the clad pipe report (Tons). The metallurgical bonded clad pipe segment is expected to grow rapidly over the forecast period among the clad pipe segments by type.

Global sales of clad pipes is estimated to be valued at US$ 2,000.3 Mn by the end of 2018 and is expected to register a CAGR of 5.6% over the forecast period. Middle East and Africa, Western Europe and South East Asia & Pacific regions are expected to account for the lion’s share of the global clad pipe market by the end of 2028 and are expected to retain their positions as market leaders during the forecast period.

Global Clad Pipe Market Dynamics

Corrosion is one of the major problems affecting the efficiency of oil & gas and other petrochemical pipeline operations. According to a report by the World Corrosion Organization, corrosion costs account for an estimated US$ 2.5 Trillion worldwide, which is almost 4% of the GDP of industrialized countries. Out of which, 45% is spent in oil & gas and petrochemical sectors, which accounts to almost US$ 1 Trillion. With towering corrosion costs and interruptions caused due to leaks, maintenance and turnarounds, the clad pipe market is expected to witness great demand over the forecast period.

Recent oil and gas price trends have encouraged major oil and gas companies to increase their investments in new area exploration. This has resulted in the development of a number of oil and gas projects, particularly in the offshore segment, resulting in a high demand for clad pipes. Western Europe, the Middle East, and Africa are seeing increased offshore oil and gas spending as a result of new projects in the North Sea, Persian Gulf, Gulf of Guinea, and Mediterranean Sea, which are expected to drive demand for the clad pipe market. Around half of the remaining oil and gas reserves are in highly corrosive environments. Given the increase in oil and gas exploration activities around the world, this is expected to drive demand for clad pipes.

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The primary driver for the global clad pipe market is the protection of pipelines from highly corrosive marine environments, as well as the relatively low cost of clad pipes in comparison to other CRA pipes. During the forecast period, the clad pipe market is expected to generate an incremental $ opportunity worth nearly US$ 3454.4 Mn, expanding at a CAGR of 5.6 percent.

Key Segments Covered

On the basis of pipe type, the global clad pipe market has been segmented into

Metallurgical Bonded
Mechanically Lined
Weld Overlay

On the basis of grade, the global clad pipe market has been segmented into

316
625
825
Others

On the basis of outer diameter, the global clad pipe market has been segmented into

4-12 Inch
12-24 Inch
24-48 Inch
48-60 Inch
60-120 Inch

On the basis of wall thickness, the global clad pipe market has been segmented into

3-6 mm
6-18 mm
18-36 mm
36-60 mm
60-120 mm

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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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Professional Gear Bags Market – Global Industry Analysis and Deeper Insights | FMI

The professional gear bags market size is estimated to reach a size of US$ 18.11 Bn in 2022 and grow at a CAGR of around 4.8% through 2028. As technology progressed, manufacturers of professional gear bags updated their offerings and introduced smart gear bags to the market.

Customers’ feedback is being analysed, and smart bags with capabilities such as GPS monitoring, mobile app connection, and other functions are being introduced to make the user’s experience more reliable, controllable, and easy. The youngest generations are regarded to be the most technologically advanced. These individuals have witnessed numerous scientific breakthroughs and developments.

New items have grabbed this generation. The folks that are most interested in having smart gear bags with them are the millennials. Smart gear bags contain charging ports, USB ports, and cable ports, making them ideal travel accessories for business trips, office trips, travel, vacations, industrial visits, and so on.

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Key Takeaways from the Professional Gear Bags Market Study

Players in the market are focusing on adopting various marketing strategies such as celebrity endorsement, marketing campaigns, expanding digital presence to connect directly to customers. These factors are likely to accelerate the growth of the global professional gear bags market in the near future.
In terms of product type, the business traveller carry-on bags segment is estimated to account for the relatively highest value share in the professional gear bags market. The segment is expected to remain dominant during the forecast period.
Europe showcases lucrative opportunities for the professional gear bags industry. Many famous costmaries practices like tea parties and dance gala are originated from Europe and people travel all around the world to be part of these classy events.

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Impact of COVID-19 on the Market

As a result of the pandemic outbreak, manufacturers faced numerous challenges. Players faced several operational issues as a result of the advent of a novel coronavirus. The impact of covid-19 was felt not only on the supply side, but also on the demand side. Retailers intended to digitalize their procedures and take a more customer-centric approach in order to improve their financial situation. One of the key demand side factors that influenced sales growth was the decline in involvement in outdoor recreation activities.

Who is winning?

Garmin Ltd., Jeppesen Sanderson, Inc., Aviation Supplies & Academics, Inc., Samsonite IP Holdings S.ar.l, VF Corporation, LVMH group, VIP Industries Ltd., ACE Co., Ltd., The Vitec Group PLC, The Tiffen Company, LLC, Go Professional Cases Inc., 5.11 Tactical, Blackhawk!, Fechheimer Brothers Company, Beretta Corp., Oakley Inc., Drago Gear,

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Key Global Professional Gear Bags Market by Category Covered

By Product Type:

Recreational Shooter Gear Bags
Business Traveller Carry-on Bags
Police Patrol Gear Bags
Aviation Pilot Bags
Emergency Gear Bags
Emergency Responder Bags
Camera Bags
Drone & Quads Bags
Others

By Price Range:

Premium (Above US$ 150)
Medium (US$ 50-US$ 150)
Low (Below US$ 50)

By Casing Type:

Hard Side
Soft Side

By Material Type:

Nylon
Plastic
Polyester
Leather
Others

By Sales Channel:

Distributors/Wholesalers
Hypermarket/Supermarket
Specialty Store
Convenience Store
Online Retailer
Others

By Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East & Africa

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By 2028, Air Separation Plants Will Be Worth US$7,891.1 Million- Future Market insights

The global air separation plant market enjoys a valuation of US$ 5.9 Bn, and is projected to expand at a CAGR of 5% to attain a net worth of US$ 7.9 Bn by the end of 2028. Strong demand for air separation plants in the healthcare industry is expected to be a prominent trend favoring overall market growth across regions.

The global market for air separation plants will reach a valuation of US$ 7,891.1 Mn by 2028, growing at a steady CAGR of 4.9 percent, with China holding the majority of the global market share in the coming decade.

Furthermore, many industrial activities are shifting toward high purity gases, which is boosting innovation in the air separation plant market. Chemical properties such as reactivity and physical properties such as density, boiling point, and vapour pressure make these gases suitable for use in a variety of industries—they are known as fuel gases, medical gases, refrigerant gases, or specialty gases depending on the industry.

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An Overview of the Global Air Separation Plant Market

A large share of the market revenue is likely to be generated by the chemical, iron and steel, healthcare, and food and beverages industries. Air separation plants are used for separating atmospheric air into industrial gases—including nitrogen, oxygen, argon, and other inert gases. Increasing demand for such industrial gases will create opportunities for the air separation plant market to grow in the coming years.

Growing emphasis on gas packaging, rapid refrigeration, and freezing technologies in the food and beverages industry is fuelling the demand for liquid nitrogen freezing. Several air separation plant manufacturers are specifically launching units for gas-related products in the food industry. Additionally, demand for medical gases and equipment like infusion pumps and continuous positive airway pressure (CPAP) devices in hospitals and private homes, will ramp up the investments in air separation plants market in the coming years.

Growing Demand for Pure Gases Augmenting Adoption of On-site Air Separation Plants

In lieu of growing demand for on-site gas generation for environmental-friendly operations, key players in the air separation plant market are catering to diverse needs of several industries looking for volume and purity, with customizable on-site production solutions. On-site air separation plant enhances energy efficiency, boosts product quality, and increases throughput. Modular configuration, designed with backup systems, and easy installation and integration are some factors pushing the adoption of on-site air separation plant technologies—offering highly reliable source of energy.

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Customized Solutions, M&A, and Divestments: Key Strategies Driving the Global Air Separation Plant Market

Top players operating in the global air separation plant market are focussing on strategic mergers and acquisitions to expand their businesses in regions with high industrial growth. Manufacturers are also empowering end-users with innovations and digitization in air separation plants for increased operator comfort and protection. In order to meet specific customer demands in terms of gas volume and purity, market players are customizing air separation plants. For instance, Linde AG serves a major share of customers looking for customized solution owing to their worldwide presence and vast experience in engineering and operation of customized air separation plants.

However, factors such as high capital costs associated with setting up of air separation units and cyclical fluctuations in end-user markets could negatively impact the growth of air separation plants market, in terms of market volume. Mature markets of Japan are likely to reduce air separation plants deployments in the coming years.

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China Emerge as the Top Market for Ground Support Equipment for Aircraft – FMI

Civil aviation is one of the most rapidly growing industries in China. Owing to increasing sales of aircraft along with rising passenger numbers, the country is expected to be an opportunistic market for Aircraft ground support equipment. China dominates the ground support equipment market in the Asia Pacific, opines Future Market Insights. This can be attributed to the increase in warehouse operations at airports along with the highly developed aviation industry.

According to the Civil Aviation Administration of China, passenger volume showcased a 74.9% year-on-year increase in 2021. As Per to Future Market Insights (FMI’s) most recent analysis, the market for aircraft ground support equipment will grow at a 6.5 percent CAGR between 2021 and 2031. By the end of 2021, the market is expected to be worth US$ 9.7 billion.

A further prediction made by FMI is that the sales of ground support equipment for airports will surpass 27,000 units by the end of 2031 as a result of the growing global passenger traffic. With a CAGR of 6%, North America will continue to dominate the market for aircraft ground support equipment worldwide.

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Because of the COVID-19 outbreak, cargo operations increased significantly as the demand for timely transportation of medicines and vaccines increased. The rising demand for refurbished ground support equipment will boost the global market’s growth prospects even further.

With the global expansion of the aviation and tourism industries, the ground support equipment market is expected to reach US$ 9.7 billion by 2021.

“Innovations in ground support equipment and availability of ground support equipment rentals will create lucrative growth opportunities for the aircraft GSE manufacturers in the future” says the FMI analyst.

Key Takeaways from FMI’s Aircraft Ground Support Equipment Market Study

North America dominates the ground support equipment market as a result of well-established aviation industry. The regional market is set to register steady growth at 6% CAGR between 2021 and 2031.
Increasing investments in aviation industry will help China to maintain its dominance over the ground support equipment market during the forecast period.
The market in India is expected to offer lucrative growth opportunities to aircraft GSE manufacturers.
In terms of power, electric segment is expected to remain dominant owing to the increasing demand for sustainability and green aircraft GSE.
By equipment type, the aircraft service segment is expected to remain dominant in the aircraft ground support equipment market, followed by cargo loading and passenger services.

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Competitive Landscape

Key players operating in the aircraft ground support equipment market are focusing on expanding their business through contracts with airlines across different regions. They are also adopting various organic and inorganic growth strategies such as mergers and acquisitions, advanced product development and collaborations to gain a competitive edge in the market.

In August 2021, Thales partnered with Dragonair Airport GSE service Ltd. to provide an advanced Instrument Landing System (ILS) solution in fully supporting the three-runway system (3RS) expansion project at the Hong Kong International Airport (HKIA). This will enable to further improve the capacity and efficiency of aircraft landing while maintaining the highest standard of flight safety.

In 2019, JBT Corporation announced that it has signed an agreement to acquire Lektro, Inc., a privately held manufacturer of electric aviation ground support equipment based in Warrenton, Oregon.

About Future Market Insights (FMI)

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Dubai

United Arab Emirates

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