Market Research Blog

The underwater light market is likely to rise to US$ 306 million in 2022 and estimated to reach US$ 523 million by 2032 with a CAGR of 5.5% from 2022 to 2032. The adoption of underwater light is likely to grow with various underwater activities over the last couple of decades. It is widely used for cave dives or water dives when it appears dark at night which is anticipated to boost the underwater light market share in recent years.

Some of the main factors driving demand for underwater light over the forecast period include an increase in underwater sports and entertainment, dive search operations in defence programmes and inside sunken vessels, and analysing underwater structures.

The marine industry is anticipated to increase its use of underwater lighting in recent years because a wide area must be illuminated with a wide beam angle during underwater diving activities. The largest market share belongs to the marine industry, which is anticipated to increase sales of underwater lights during the projection period.

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Market players are discovered to have been active in producing goods with increased functionality and durability of the underwater light to expand the production of the underwater light market size in order to deliver excellent products at competitive rates.

Additionally, supplying specially developed and related products such as cameras and accessories developed for use in hazardous environments in addition to the underwater light is growing the underwater lights market trends. Because of technological advancements with high-end products, the underwater light statistics are expected to rise at a significant CAGR from 2022 to 2032.

In an emergency, divers utilise light signals to determine their depth. Considerations for constructing an effective underwater light include the brightness of the light (expressed in Lumens) and the beam angle (expressed in degree). This is one of the important aspects expected to drive the underwater light market growth during the forecast period.

Market Scope:
Underwater lighting systems generally comprise lights which are guarded with resilient materials for hassle-free functioning in seas, lakes, ponds, and other underwater areas. As these lights often are submerged in saline water, it becomes essential for manufacturers in designing cases which are resistive to corrosion.

Dominant Key Players on the Underwater Lighting market covered are:

• Aqualuma LED lighting
• Attwood
• Perko Inc.
• Shadow Caster inc.
• Underwater Lights Limited
• Ocean LED
• Griven
• WIBRE GMBH & CO.
• KG
• Spa Electrics
• Underwaterkinetics
• THERMALEC international

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Recent Developments in Underwater Light Market are:

• In August 2019, the UK developed its new market that leading underwater light for the marine industry. The new launch product QTS-100 is a small and powerful underwater light which provides 20,000+ lumens of light.
• OceanLED has introduced the Explore Underwater LED Light Series. A technologically advanced and incredibly efficient flush-mount underwater LED light is included in the series. The company has developed two models in its Explore series: the E3 and the E6.
• Light & Motion’s Video Pro 3800 is a revolutionary underwater light. The light features both a power level and a battery condition indicator. The 3,800-lumen video light is also placed in a dome port optic, which improves illumination while reducing light fall-off along the beam’s edges.

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Who Are Some Of The Key Competitors In The Underwater Light Market?

Some of the key participants identified across the value chain of the underwater lights market include: Aqualuma LED lighting, Attwood, Perko Inc., Shadow-Caster inc., Underwater Lights Limited, Ocean LED, Griven, WIBRE GMBH & CO., KG, Spa Electrics, Underwaterkinetics, and THERMALEC international, etc.

The key playing industries are using several concepts and methodologies to expand the underwater light market size in the coming years. It includes partnerships, mergers, acquisitions, product launches and other emerging trends in the underwater light market during the forecast period from 2022 to 2032.

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The water turbine market is expected to reach US$ 2.4 billion in 2022 and US$ 3.8 billion by 2032, with a CAGR of 4.7 percent from 2022 to 2032. The research study presented here is an excellent compilation of various types of analyses of important aspects of the Global Water Turbine Market. A devilishly researched analysis and Porter’s five forces analysis, provide a deep explanation of the strengths and weaknesses of the global Water Turbine market and the other players operating within it.

North America is anticipated to hold the largest market share for water turbines from 2022 to 2032, accounting for 24.0% of the market. According to the water turbine market report, the growth of economies and the availability of affordable electricity will cause the water turbine market size in the North American region to increase over the ensuing years as a result of increased government incentives for the use of green technologies.

A turbine is an engine that captures energy from fluid flow. Turbines consist of a moving part also known as the rotor assembly, which is a drum or a shaft with blades attached to it. The rotors are powered by water coming in contact with the blades, thereby forming rotational energy. Water turbines help in the generation of hydroelectric power by converting the kinetic energy of flowing water into mechanical energy with the help of the attached blades.

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Each player studied in the report is profiled, taking into account production, market value, sales, gross margin, market share, recent developments, and marketing and business strategies. In addition to providing extensive research on drivers, restraints, trends, and opportunities in the global Water Turbine market, the report provides individual and detailed analysis of critical regions such as North America, Europe, and the Asia-Pacific region. In addition, an important segment of the global Water Turbine market is studied in great detail, with a major focus on market share, PA, and other important factors.

The Major Players covered in Water Turbine Market:

• GENERAL ELECTRIC
• Wärtsilä
• Alterra Power Corporation
• Energy Development Corporation
• Nautilus LLC
• Canyon Industries, Inc
• The James Leffel & Co
• Toshiba India Pvt. Ltd.
• Ram Power Corporation
• Enel Spa
• Sumitomo Corporation
• Gilbert Gilkes & Gordon Ltd.
• Calpine Corporation

Regional market analysis Water Turbine can be represented as follows:

This part of the report assesses key regional and country-level markets on the basis of market size by type and application, key players, and market forecast.

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The base of geography, the world market of, Water Turbine has segmented as follows:

• North America includes the United States, Canada, and Mexico
• Europe includes Germany, France, UK, Italy, Spain
• South America includes Colombia, Argentina, Nigeria, and Chile
• The Asia Pacific includes Japan, China, Korea, India, Saudi Arabia, and Southeast Asia

Water Turbine Market Report Scope

• Industry Overview: The research study’s first section provides an overview of the global Water Turbine market, including its current state and future prospects, as well as its product offerings. It also covers the key segments of the worldwide Water Turbine market, such as the geography, type, and application segments.
• Competitive Analysis: This study highlights significant mergers and acquisitions, business expansion, product or service differences, market concentration, competitive position, and market size by player in the global Water Turbine market.
• Company Profiles and Key Data: This section profiles the top players in the global Water Turbine market based on the revenue, goods, business, and other factors mentioned above.

Market size by type and application: In addition to providing in-depth analysis of the global Water Turbine market size by type and application, this section provides research on top end-users or consumers and potential applications.

• North American Market: This report describes changes in the size of the North American market by application and player.
• European Market: This section of the report shows how the size of the European market will change over the next few years.

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China Market: It provides an analysis of the Chinese market and its size for all years of the forecast period.

• Rest of the Asia-Pacific market: The rest of the Asia-Pacific market is analyzed in pretty detail here on the basis of applications and players.
• Central and South American market: The report illustrates changes in the size of the Central and South American market by players and applications.

Middle East Africa Market: This section shows how the size of the Mea market changes over the course of the forecast period.

• Market Dynamics: This report covers the drivers, restraints, challenges, trends, and opportunities of the global Water Turbine market. This section also includes Porter’s analysis of five forces.
• Findings and Conclusions: It provides strong recommendations for new as well as established players for securing a position of strength in the global Water Turbine market.

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The amorphous metal cores market is predicted to grow at a 7.5 percent CAGR from 2022 to 2032, rising from US$ 781.6 Million in 2022 to a worth of US$ 16.0 Billion by 2032. The amorphous metal cores market is anticipated to show promising growth prospects in the forecasted period 2022-2032.

Amorphous metal cores have a glassy or non-crystalline physical appearance and are also referred to as vitreous metals. High-performance transformers are made with amorphous metal cores. Low conductivity of amorphous metal cores aids in lowering eddy currents within the core body. Amorphous metal cores exhibit excellent magnetic behaviour, such as minimal iron loss while having high-saturation magnetic flux density and high permeability, because they lack anisotropic properties.

Amorphous metal cores are generally used in distribution transformers. In terms of end use sector, Amorphous metal cores are commonly preferred in renewable energy systems such as solar power and wind energy, as they typically operate with 20 – 40% low load conditions. Amorphous metal cores have been used in liquid-filled transformers for over 20 years, and now this technology is trending in dry type transformers as well.

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Amorphous Metal Cores Market: Dynamics

The amorphous alloy in the iron core of transformer significantly reduces energy costs and helps increase electrical characteristics while reducing the level of CO₂ emissions. Power transmission equipment manufacturers today are searching for a technology that saves energy and reduces their operating cost. This has encouraged amorphous metal cores manufacturers to develop optimized and energy efficient products for use in distribution transformers. Normally, 10% of total electricity generated by an electric company is lost during the distribution and transmission process.

Thus, distribution transformers consisting of amorphous metal cores help save a significant amount of energy and cost. Other uses that benefit from amorphous metal cores include output filter chokes in large Switched-Mode Power Supply (SMPS), power factor correction chokes in UPS systems and high-power lamp ballasts.

The initial costs of amorphous metal cores are relatively higher as compared to crystalline silicon steel owing to certain beneficial properties such as lower saturation magnetic flux density of amorphous steel than that of silicon steel, which is mostly preferred by transformer manufacturers.

This results in high cost per unit of large sized amorphous core transformers. Although, it’s increased energy efficiency and low operational costs throughout the lifetime of transformer, could help compensate its high initial costs. Therefore, despite of high costs, the above mentioned factors are estimated to boost the market demand for amorphous metal cores in the coming years.

On the flip side, amorphous metal cores shows various limitations which may curb the market growth. Hardness along with reduced thickness makes slitting and shearing difficult. Moreover, the brittleness property of amorphous metal cores has also made it un-friendly to the transformer manufacturers. Due to these limitations, the amorphous metal core technology has been limited at present to very few customers across geographies.

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Amorphous Metal Cores: Regional Market Outlook

With U.S. agreeing to expand the production of amorphous metal core transformers in order to achieve efficient distribution & transmission of electricity, the global amorphous metal cores market is projected to witness lucrative growth opportunities in North America. In addition, since U.S. has the highest per capita electricity consumption ratio in the world, government and utility companies are taking various initiatives to introduce energy efficient transforming solutions, which is estimated to accelerate the growth of amorphous metal cores market during the forecast period.

Moreover, regions such as East Asia and South Asia are also estimated to witness lackluster growth driven by major installations of amorphous metal core transformers in India and China. The recent electrification projects are heavily investing in energy efficient technology which is expected to drive the growth for amorphous metal cores market over the slated time period.

The European countries are also facing an upsurge in the amorphous metal cores market. For instance, Spanish utility companies have started to import the amorphous metal core transformers and is also promoting in-house manufacturing of the same with local manufacturers.

Amorphous Metal Cores: Market Key Players

Some of the prominent market participants in the global amorphous metal cores market include the following players:

• Hitachi, Ltd.
• Advanced Technology & Materials Co., Ltd.
• Zhaojing Incorporated
• Qingdao Yunlu New Energy Technology Co., Ltd.
• China Amorphous Technology Co.,Ltd
• ENPAY
• Mangal Electrical Industries Pvt. Ltd.
• KOTSONS Pvt. Ltd.
• Usha Amorphous Metals Ltd.
• Ti-Electronic

The amorphous metal cores research report presents a comprehensive assessment of the amorphous metal cores market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The amorphous metal cores research report provides analysis and information according to market segments, such as geographies, application, and industry.

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The Amorphous Metal Cores report covers exhaustive analysis on:

• Amorphous Metal Cores Market Segments
• Amorphous Metal Cores Market Dynamics
• Amorphous Metal Cores Market Size
• Amorphous Metal Cores Supply & Demand
• Current Trends/Issues/Challenges in the Amorphous Metal Cores Market
• Competition & Companies involved in the Amorphous Metal Cores Market
• Amorphous Metal Cores Technology
• Value Chain of the Amorphous Metal Cores Market

Amorphous Metal Cores regional analysis includes:

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

The global report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The amorphous metal cores 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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The global demand for spray booth ventilation systems reached $568 million in 2021 and is expected to reach $585 million in 2022. Furthermore, with the rapid adoption of spray booth ventilation system size in industries such as automotive, aerospace, construction, and railways, the global pray booth ventilation systems market is expected to grow at a moderate CAGR of 3.1 percent between 2022 and 2032, totaling around US$ 800 Mn by 2032.

A spray booth is a power-ventilated structure provided to accommodate or enclose a spraying operation in order to limit or confine the escape of residue, vapor, spray, and to safely direct or conduct them to an exhaust system. The spray booth ventilation system helps in reducing the exposure of workers to hazardous materials like paint vapors through removing polluted air from the workplace and to ensure that workers are breathing uncontaminated air.

Furthermore, the local exhaust ventilation system can be preferred method of control in paint shops as the lower exhaust-flow rate reduces heating costs thus making it relatively more effective than its counterparts. The spray booth ventilation system helps to prevent the accumulation of toxic or flammable vapor or gases and does not require floor space.

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Moreover, the maintenance of the spray booth ventilation system helps in protecting the employees/ workers and improve the quality of the work. Keeping the booth clean, well heated, regular check and replacing air filters, when required are some of the measures taken for the optimal operation of the spray booth ventilation system.

Spray Booth Ventilation System Market: Dynamics:

The stricter government standards and regulations such as OSHA and EPA specified guidelines regarding spray booth ventilation and designing spray booths to filter out flammable contaminants and moving the air currents towards an exhaust for the proper ventilation. Furthermore, the poor spray booth system may lead to the risk of inhaling toxic fumes, along with poor health issues due to solvents and chemicals containing volatile organic compounds (VOCs).

Also, fire caused by the paint fumes coming in contact with reactive chemicals or electrical discharge may affect the spray booth performance, which can be eliminated and avoided with the spray booth ventilation system. Moreover, a high quality spray booth ventilation system helps in achieving higher quality finishes which helps in reducing cycle time and costs and thus improves customer satisfaction.

The integrators or installers of spray booth ventilation system also works on the custom requirements which helps clients to implement ventilation system matching their specific spray booth or finishing environment needs. Rising demand for ventilation environment across applications such as automotive pre-stations, aircraft paint booths, open face gel booths, mix storage rooms, large equipment paint booths, and small & big spray booth, among others to propel the growth of the spray booth ventilation system during the forecast period.

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Spray Booth Ventilation System Market: Regional Outlook:

The global spray booth ventilation system market is significantly driven by North America due to rising awareness among end use industries and stringent government regulations towards worker’s safety, environmental protection, among others. Furthermore, the European market is another region which is estimated to perform considerably in the coming future with growing demand for spray booth ventilation system to enhance productivity, quality of the service, and efficiency of the plant. Growing automotive production and maintenance, aerospace industry, among other industries to propel the demand of spray booth ventilation system market over the forecast period.

Asia Pacific, on the other hand, is gaining substantial traction and growth in the global spray booth ventilation market due to rising demand for efficient spray booths and efficient work to maintain and reduce lead time. Latin America and Middle East & Africa market are expected to register considerable growth in the global spray booth ventilation system market over the forecast period.

Spray Booth Ventilation System Market: Market Participants:

Some of the market participants in the global spray booth ventilation system market are:

• Ventam Systems Limited
• ELTA Group
• Moldow A/S
• Spray Systems
• Nova Verta
• PAINT PERFECT SPRAY BOOTH SYSTEMS
• KAYCO SPRAY BOOTHS
• DJK Europe GmbH
• Global Finishing Solutions
• FAM SRL

The Spray Booth Ventilation System Market report covers exhaustive analysis on:

• Spray Booth Ventilation System Market Segments
• Spray Booth Ventilation System Market Dynamics
• Spray Booth Ventilation System Market Size
• Spray Booth Ventilation System Market Supply & Demand
• Spray Booth Ventilation System Market Current Trends/Issues/Challenges
• Spray Booth Ventilation System Market Competition & Companies involved
• Spray Booth Ventilation System Market Technology
• Spray Booth Ventilation System Market Value Chain

Spray Booth Ventilation System Market: Regional analysis includes:

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

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

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Spray Booth Ventilation System Market: Segmentation:

The global spray booth ventilation system market can be segmented into spray booth type and application.

On the basis of spray booth type, global spray booth ventilation system market is segmented into:

• Semi Downdraft
• Side Draft
• Cross Draft
• Open Face
• Bench
• Downdraft

On the basis of end user, global spray booth ventilation system market is segmented into:

• Industrial
• Automotive
• Aerospace
• Construction
• Marine
• Railways

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The global optical waveguide market size is forecasted to be appraised at US$ 12,280.0 million by 2032, up from US$ 7410.0 million in 2022, advancing at a CAGR of 5.2% during the forecast period.

An optical waveguide refers to a physical form that helps in the guidance of electromagnetic waves in the optical spectrum. Some of the common forms of optical waveguides comprise products like optical fiber and transparent dielectric waveguides that are made of glass and plastic.

The optical waveguides have a number of promising properties, including biocompatibility, distributed sensing capability, resistance to electromagnetic noise, and high bandwidth. These characteristics are expected to foster growth and drive the optical waveguide market in the coming years.

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In addition to that, there is the emergence and increasing popularity of high-speed cloud computing techniques is driving the sales of optical waveguides.

Moreover, optical interconnect is highly driving the demand for optical waveguides, due to its ability to transform the signals from electrical to optical with less frequency-dependent loss and high bandwidth.

Furthermore, the optical waveguide can also aid in handling the significant amount of data generation from data centers along with cloud computing. The unique features like distributed sensing, biocompatibility, and resistance to electromagnetic noises like that of motors and radios are bolstering the adoption of this product during the forecast period.

The global optical waveguide market is being driven primarily by the rapid increase in the use of electronic devices, as well as a massive amount of data flow and augmented data traffic. The growing popularity of the internet, combined with the desire for low power consumption, is expected to drive demand for optical waveguides in the near future.

Key  Players:

• Sumitomo Bakelite Co. Ltd.
• Waveguide Optical Technologies,
• DigiLens, Inc.
• Himachal Futuristic Communications Ltd.
• Corning Incorporated
• LEONI Fiber Optics, Inc.
• Prysmian SpA
• Yangtze Optical Fiber and Cable Co. Ltd.
• Sterlite Technologies Limited
• Fujikura Limited
• Other

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Key Segments Of The Optical Waveguide Market

By Type:

• Planar Waveguide
• Channel Waveguide

By Material Type:

• Semiconductor Waveguides
• Electro-optic Waveguides
• Glass Waveguides
• Silicon Waveguides
• Polymers Waveguides
• Others

By Fabrication Process:

• Microreplication Method
• Lithography Method
• Photo-address Method

By Application:

• Tablet PC
• Inspection Devices
• Super High Vision
• High-performance Server, Computing, Router
• Printers
• Medical Equipment
• Aircraft & Automobiles
• Others

By Optical Interconnection:

• Chip to Chip Optical Interconnection
• Board to board Optical interconnection
• On-chip Optical Interconnection
• Optical Back Plane
• Inter Board
• Others

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The global tower crane rental market is projected to top US$ 6.49 Bn in 2021, according to a recent market analysis by ESOMAR-certifies consulting firm Future Market Insights (FMI). With a favorable demand outlook, the market is estimated to grow at a 5.7% CAGR, reaching 54,685 units in terms of volume.

Demand for tower crane rental plummeted in 2020 due to the onset of the COVID-19 pandemic. However, considering the recovery of the construction sector, sales prospects of tower crane rentals are projected to be bright over the forecast period, as the market experienced year-over-year growth by 4.8% between 2020 and 2021.

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The global construction industry has witnessed substantial growth in the past few years and the trend is expected to persist over the forecast period. Growth in the construction can be attributed to increasing government investments and rising per capita expenditure in home ownership and renovation. As infrastructure projects are rising globally, it is translating into high demand for tower crane rentals in the market.

Owing to high demand for tower crane rentals, key players operating in the market are focusing on enhancing their strategic partnerships with regional and local end-use industries to gain a competitive edge in the market. Besides this, players are offering customized fleet solutions, technologically advanced equipment, and robust aftersales services, which is further propelling demand for tower crane rentals in the market.

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As per FMI’s in-depth regional analysis, China is projected to dominate the East Asia tower crane rentals market. Rapid adoption of technologically advanced equipment and machinery, along with increasing development of residential and commercial projects in the country will continue fostering sales of tower crane rentals over the forecast period.

“Public Private Partnerships (PPP) for infrastructural development in various countries are positively shaping the demand outlook for tower crane rentals. In addition to this, collaborative efforts to offer personalized crane rental solutions by key market players will continue augmenting market growth in forthcoming years,” says the FMI analyst.

Key Takeaways:

•  In terms of design type, the top slewing segment is projected to hold 60.4% of the total tower crane rental market share.
• Based on end-use, applications of tower crane rentals are anticipated to continue rising in the construction sector, accounting for 59.3% of the total market share.
• OEMs are expected to remain the most-preferred vendors for tower crane rental services, capturing 40.2% of the total market share.
• China is anticipated to emerge as an attractive market, commanding 76.1% of the East Asian tower crane rental market share.
• Germany is projected to lead the European tower crane rental market, growing at a 4.5% CAGR.
• India will continue experiencing high demand for tower crane rentals, capturing 43.1% of the South Asia Pacific market share.
• Japan and South Korea will collectively account for 8% of the global tower crane and rental market share.

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Competitive Landscape

Key players operating in the global tower crane rental market are Konecranes, Liebherr, Mammoet, Maxim Crane Works, L.P., Morrow Equipment Company, Morwest Crane & Services, Bigge Crane and Rigging Co., Stafford Crane Group, Leavitt Cranes, United Crane & Rigging, Locabens Equipamentos, Grumont Equipamentos Ltda, JASO Group, and Arcomet.

As per FMI’s market survey, top 5 players comprising Al Faris, Kanamoto Co., Ltd., Konecranes, Mammoet and Uperio Group are estimated to account for 41% of the total market share over the forecast period.

Global Tower Crane Rental Market by Category

By Lifting Capacity:

• Up to 5 Tons
• 5 – 10 Tons
• 10 – 20 Tons
• 20 – 50 Tons
• Above 50 Tons

By Product Type:

• Self-Erecting
• Hammerhead Crane
• Luffing Jib Tower Crane
• Mobile Tower Crane

By Design Type:

• Top Slewing Tower Crane
• Bottom Slewing Tower Crane

By Vendor Type:

• Original Equipment Manufacturer (OEM)
• Independent Service Provider

By Applications:

• Building and Construction
  • Residential and Commercial
  • Industrial
  • Civic Infrastructure
• Marine and Sea Ports
• Mining
• Others

By Region:

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

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According to Future Market Insights (FMI), the expansion valves market will register 4.0% CAGR through 2021-2031 as demand grows in residential, automotive, commercial, and other sectors.

According to the most recent FMI research, global sales of expansion valves are expected to exceed US$ 10.7 billion in 2021, with a stable long-term forecast. By the end of 2031, the market is anticipated to be worth more than US$ 15.9 billion, according to the report.

According to Future Market Insights, one of the primary factors driving the expansion valve market is the increasing use of air conditioning in the automotive sector. Nowadays, every vehicle, particularly passenger vehicles, has an air conditioning system. This is the primary driving force in the expansion valves market.

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The expansion valves market observed moderate decline in its sales volume in FY2020 due COVID-19 pandemic. Demand from major end-use sectors like automotive, construction, and other waned, since distribution links between manufacturer and consumer were disturbed along with that operation in production facilities were stopped due to implementation of lockdown by governments. However in last quarter of 2020 the economies started recovering from the impact of the pandemic.

In the coming years, the demand for electronic expansion valves is expected to grow considerably. Electronic expansion valves are more convenient to use and are more energy efficient c, which makes them more popular among end users.

The growing requirement for air conditioning applications from automotive, commercial, residential, and industrial sectors is expected to propel the expansion valves market.

Key takeaways from expansion valves market study

• By application, expansion valves application for air conditioning purposes are projected to hold over 60% volume share of the global market in 2021.
• In terms of product type, the thermal expansion valves segment is set to hold over 69.1% of the market share by the end of forecast period.
• East Asia will remain a primary market, backed by rising demand from the automotive & residential sectors. It is expected to account for over 36.6% of the demand registered in the global market in 2021.
• By working pressure, demand for up to 30 bar segment of expansion valves is set to surge at CAGR of approximately 4.1% over the coming decade.
• By installation, sales of expansion valves is expected to reach US$ 14.1 bn in 2031.

“The increase in per capita income and rising expenditure on advanced heating, ventilation, and air conditioning systems will fuel the demand for expansion valves,” says a Future Market Insights analyst.

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Who is winning?

The expansion valves market is moderately consolidated with key players accounting for around more than 50% of the market share. These players are likely to invest in new technology developments and expansion of their distribution networks in order to maintain their market presence.

Some of the key players in this industry include but are not limited to emerson electric co, sanhua ,fujikoki corporation, otto egelhof gmbh & co. Kg, castel s.r.l., tgk co., ltd., keihin, carel industries s.p.a., danfoss group, parker-hannifin corporation, denso, hanon systems.

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The global business is anticipated to witness a considerable value CAGR of 4.8% during the period 2022 and 2028. Hydrostatic testing is the most common method for inspecting meter skids, compressed gas cylinders, pressure relief valves, boilers, tubing, pipelines, and other pressurized containers for leaks and structural integrity.

Due to rising demand from end-use applications, FMI has determined that North America will continue to be a significant market for hydrostatic testing over the forecast period. The hydrostatic testing sector is predicted to grow at a CAGR of 5.9% in the region. It’s typically used to test low-pressure stainless steel canisters as well as determine whether or not the equipment has any leaks at the time of the test and whether or not it’s safe to return to operation.

Hydrostatic testing is a way to ascertain strength and leaks in pressure vessels such as pipelines, gas cylinders, boilers, and fuel tanks. In the pipeline industry, hydrostatic testing presents unique safety, environmental and community liaison challenges. However, outside the pipeline industry, there is considerably lean understanding of hydrostatic pressure testing of existing pipelines.

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Moreover, the demand for hydrostatic testing is notably high in the oil and gas industry, in the wake of increasing upstream and downstream oil and gas exploration and drilling activities that requires rigorously constructed and designed pipelines. Considering the impact that pipeline failures can have on economy, environment, and human life, the demand for hydrostatic testing is significantly high in the oil and gas industry.

North America and MEA are expected to be key regions in the hydrostatic testing market during the forecast period owing to increasing investments across oil and gas industry in these regions. With the growing oil reserves across various regions, especially MEA, the demand for pipeline and vessel testing services is expected to increase, which in turn, will escalate the demand for hydrostatic testing equipment across the region.

North America, on the other hand, dominated the global natural gas production as well as consumption in 2017. With growing consumption and production of natural gas, coupled with safe operations of gas pipelines, demand for hydrostatic testing is expected to remain high, in the region.

Investments in oil and gas exploration and drilling activities in Mexico and Brazil are surging, which in turn, is projected to create opportunities for hydrostatic testing providers and significant competition for foreign investors, in the Latin American region. Pumps are a widely used test equipment and is likely to dominate the global hydrostatic testing market with more than 3/4th of the overall market share by the end of the forecast period, in terms of product.

These pumps are primarily designed to test plumbing lines, pressure vessels, water meters, sprinkler and solar systems across various industries. Moreover, powered hydrostatic testing compared to manual variants is projected to dominate the global hydrostatic testing market owing to its smooth functioning, lying in the high growth – high value quadrant throughout the forecast period.

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New product development, in terms of testing pipelines and pipe systems is also projected to remain key forward market strategy adopted by players in hydrostatic testing market. Moreover, government regulations such as U.S DOT and PHMSA, are expected to create growth opportunities in the hydrostatic testing market. Key players in the global hydrostatic testing market include Curtiss-Wright Corporation, Galiso Inc., Rice Hydro, H. Lorimer Corp, and Cosmo Instruments Company Limited.

Table of Content

1. Executive Summary

1.1. Market Overview

1.2. Market Analysis

1.3. FMI Analysis and Recommendations

1.4. Wheel of Fortune

2. Market Introduction

2.1. Market Taxonomy

2.2. Market Definition

3. Market Background

3.1. Macro-Economic Factors

3.2. Global Economic Outlook

3.2.1. Global GDP by Region and Country

3.2.2. Global Industry Value Added

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