Cybersecurity Insurance Market Worth US$ 61.2 Bn by 2032, Growing at a CAGR of 18.2% From 2022 to 2032 – Report by FMI

According to a recent Future Market Insights report, the cybersecurity insurance market is expected to reach US$ 11.5 Billion in 2022, registering a CAGR of 18.2% from 2022 to 2032. Growing security threats and financial losses are expected to push the market for cybersecurity insurance to US$ 61.2 Billion by the end of 2032.  Business owners regularly purchase insurance policies in order to keep themselves protected from a variety of unforeseen circumstances, such as natural disasters as well as lawsuits brought by unhappy customers.

Business is implementing insurance policies in response to the rising risk of data breaches and cybersecurity risks. The insurance type segment is expected to be dominated by standalone insurances during the forecast period.

As businesses embark on their digital journey they face new opportunities and threats in the market. In addition, companies are being held to a higher standard of governance. Moreover, society as a whole is struggling to combat the rising impact of cyber incidents, such as ransomware, which is gaining traction.

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Key Takeaways:

  • By end user, cybersecurity insurance solutions to be leveraged maximum by insurance providers, registering an 18% CAGR
  • Presence of major key players and the growth of IT business in U.S. to push the market to US$ 21.3 Billion by 2032
  • Growing telecom businesses to push the Chinese market at a CAGR of 17.5% from 2022-2032.
  • Global cybersecurity insurance market to yield an absolute value of US$ 49.8 Billion
  • U.K. market is expected to grow at a CAGR of 17.1% during the forecast period.

Competitive Landscape

With the growth of cloud-based technologies and the adoption of cloud-based storage systems, the market is projected to grow in the future.  Strategic partnerships can provide a company with the potential to expand its operational capabilities. Insurers provide smart and dynamic policies that can help recover a company’s financial losses in the market.

  • In September 2021, Microsoft announced a partnership with At-Bay, a pioneering cyber insurance company. The cyber-risk that each company it insures is assessed by At-Bay through its modern approach to risk management. Customers are then given actionable insights on how to improve their security posture. Using improved policy terms and pricing to encourage the implementation of security controls has strengthened the overall security of At-Bay’s portfolio companies.
  • In January 2022, as part of its 2023 strategy, the Asian Investment Bank (AIB) and IBM have signed an agreement worth €65 million over three years to accelerate the bank’s digital transformation, meet its customer-first commitment, and accelerate its transition to hybrid cloud technologies. IBM’s technology will help AIB expand its cyber resilience and fraud detection capabilities, ensuring the high quality and safety of its digital services.

More Valuable Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the global cybersecurity insurance market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.

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Key Segments Covered In The Cybersecurity Insurance Market

By Component:

  • Cybersecurity Insurance Solutions
  • Cybersecurity Insurance Services

By Insurance Coverage:

  • Cybersecurity Insurance for Data Breach
  • Cybersecurity Insurance for Data Loss
  • Cybersecurity Insurance for Cybersecurity Liability

By Insurance Type:

  • Packaged Cybersecurity Insurance
  • Stand-alone Cybersecurity Insurance

By Organization Size:

  • Cybersecurity Insurance for Large Enterprises
  • Cybersecurity Insurance for SMEs

By End User:

  • Cybersecurity Insurance for Technology Providers
  • Cybersecurity Insurance for Insurance Providers

By Region:

  • North America Cybersecurity Insurance Market
  • Europe Cybersecurity Insurance Market
  • Asia Pacific Cybersecurity Insurance Market
  • Middle East and Africa Cybersecurity Insurance Market
  • Latin America Cybersecurity Insurance Market

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Veterinary Ultrasound Scanners Market Segmentation Application, Imaging Technology & Analysis Research Report To 2028

Veterinary ultrasound scanners are diagnosis imaging devices using high-frequency ultrasound waves to examine conditions such as pregnancy scan, distal limb exams, and abdominal scans, in animals. Veterinary ultrasound scanners can help to diagnose problems with soft tissues, muscles, blood vessels, tendons, and joints. In the wake of growing adoption of pets, rising expenditure on pet healthcare, prevalence of zoonotic diseases, and animal healthcare insurance, the global veterinary ultrasound scanners market is in for a positive growth, in terms of revenue, according to a new report by Future Market Insights. The global veterinary ultrasound market size is estimated to be valued at US$ 239.6 Mn by 2028, expanding at a moderate 4.2% CAGR over the forecast period of 2018-2028.

North America to Dominate Global Veterinary Ultrasound Scanner Market; Western Europe to Follow, APECJ to Present Lucrative Opportunities

Increasing pet adoption and vet care expenditure will boost the veterinary ultrasound market in North America. Western Europe is pegged to be the second largest market for veterinary ultrasound scanners owing to increasing occurrence of zoonotic diseases and livestock screening for food safety attributable to increased meat consumption. On the other hand, public and private funding along with support programs for vet care will open positive investment prospects for manufacturers of veterinary ultrasound scanners in Asia Pacific excluding China and Japan.

Veterinary Ultrasound Scanners to find Increased Adoption for Zoonosis and Pre-Natal Diagnosis

Owing to increased international travelling and animal transportation has led to an increase in the number of zoonotic cases- infectious diseases that are spread between humans and animals. Since zoonosis can be severe resulting in death of human beings, the Centers for Disease Control and Prevention (CDC) is always tracking and reporting such cases. . The major pathogens and diseases associated with zoonotic are anthrax, brucellosis, Chagas disease, Type A influenza, Ebola hemorrhagic fever, Rift Valley fever, severe acute respiratory syndrome (SARS) among others. Vector borne zoonosis coupled with direct and indirect contact of human beings with infected animals increased the chances of contracting zoonotic diseases, in turn, pushing the adoption of veterinary ultrasound scanners.

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Governments and vet healthcare organizations are taking initiatives to spread awareness apropos of zoonotic diseases and other travel-acquired diseases. CDC has collaborated with several countries and their human and animal health organizations to conduct ‘One Health Zoonotic Disease Prioritization Workshops’ in a bid to reduce travel-related zoonosis. Moreover, pet owners and animal breeders have increased routine screening and veterinary diagnosis as a prevention method—using imaging devices such as veterinary ultrasound scanners, thereby, positively impacting the overall market growth.

Moreover, since per capita meat and dairy consumption has increased, globally, animal breeders are under immense focus to provide good quality livestock products. For which, regular checking and monitoring of animals is paramount, favoring the growth of the global veterinary ultrasound scanner market during the forecast period.

Animal breeders are adopting ultrasound scanners to assess reproductive scenarios such as early pregnancy diagnosis, multiple pregnancies, and fetal sex determination. Fetal sex determination in equinox and livestock animals allows breeders to replacement cycle of animals and determine the sale value of a breed. However, since the ultrasound scanners used for humans and animals is the same and scanners have to be registered under the PNDT Act 1994, stringent Government regulations makes determination of fetal gender difficult in countries like China and India, hampering the growth of the veterinary ultrasound scanners market in these regions.

“Companies are introducing technologically advanced ultrasound scanners for animals that can be paired with Android and iOS devices. Lightweight and portable ultrasound scanners are also making its way in the global market that can be used for a number of species and applications”- Healthcare Industry Analyst, Future Market Insights

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Competitive Landscape Insights: Expansion, M&A Strategies to Define Market Growth Roadmap

Key players in the global veterinary ultrasound scanners market include Samsung Medison, IMV Technologies, Mindray, Hitachi, Siemens Healthineers, and Canon Medical Systems. Top manufacturers are likely to focus on strategic alliances and mergers and acquisitions to strengthen their product portfolio and increase scope for market expansion, thereby, creating opportunities for the players in veterinary ultrasound market in the untapped regions. Establishment of subsidiaries and marketing alliances would offer geographical expansion prospects to the top players.

Key Segments of Veterinary Ultrasound Scanners Industry Survey

Veterinary Ultrasound Scanners Market by Product Type:

  • Portable/Hand Held Ultrasound Scanners
  • Cart Based Ultrasound Scanners

Veterinary Ultrasound Scanners Market by Imaging Technology:

  • Digital Imaging Technology in Veterinary Ultrasound Scanners
  • Analog Imaging Technology in Veterinary Ultrasound Scanners
  • Contrast Imaging Technology in Veterinary Ultrasound Scanners

Veterinary Ultrasound Scanners Market by End User:

  • Veterinary Ultrasound Scanners in Veterinary Hospitals
  • Veterinary Ultrasound Scanners in Veterinary Clinics
  • Veterinary Ultrasound Scanners in Animal Breeding and Farms

Veterinary Ultrasound Scanners Market by Region:

  • North America Veterinary Ultrasound Scanners Market
  • Latin America Veterinary Ultrasound Scanners Market
  • Europe Veterinary Ultrasound Scanners Market
  • East Asia Veterinary Ultrasound Scanners Market
  • South Asia & Pacific Veterinary Ultrasound Scanners Market
  • Middle East & Africa (MEA) Veterinary Ultrasound Scanners Market

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Ethernet Backhaul Equipment Market Growing at a CAGR of 26.9% During Forecast Period 2022 – 2032

The market for ethernet backhaul equipment is anticipated to develop at a CAGR of 26.9% over the forecast period, reaching USD 4,478 million in 2022 and USD 48,677 million by 2032. Earlier, over the historical era, this market experienced a CAGR of 25.6%.

The Ethernet is an efficient and effective technology that is used in enterprises local area networks to transport data. Ethernet backhaul equipment is inexpensive, easy to deploy and maintain. Microwave, digital subscriber line (DSL), and fiber Ethernet backhaul are used to offer communication between consumer premises equipment and core networks.

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Recently, there is a decline in pricing of backhaul equipment due to the technological innovations and advancements which is among the primary trends in the global Ethernet backhaul equipment market. Among the three technology segments that include microwave, fibre and copper, and others such as mobile backhaul from satellites, microwave technology is expected to be among the most popular technologies in Ethernet backhaul equipment market.

Fibre and copper technology and others technology are also expected to have a positive growth in terms of revenue in the forecast period. Enterprises, and educational institutions are rising their focus on easy and fast data transfer. This factor is creating a opportunity for the vendor in the space of Ethernet backhaul equipment to innovate and offer better equipment solutions.

Global Ethernet Backhaul Equipment Market: Drivers and Challenges
High data traffic growth due to high adoption by enterprises and increase in application in government sectors and educational institutions is enabling the growth in revenue of global Ethernet backhaul equipment market. Increasing awareness among the consumers about the connected devices and the requirement to stay in touch even when they are in remote locations is expected to improve the growth in revenue of the global Ethernet backhaul equipment market.

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Few other factors that positively impact the growth in revenue of global Ethernet backhaul equipment market are rapid growth in IP traffic, increasing need for mobile backhaul, rapid shift of the consumers towards IP packet networks from time division multiplexing, rising adoption of carrier Ethernet services and among others.

In global Ethernet backhaul equipment market the major three product segment that witness substantial growth in the recent years include WDM equipment, microwave equipment and core routers. This trend is expected to continue during the forecast period.

Key Players

  • NEC Corporation
  • Ericsson
  • Huawei Technologies
  • Alcatel-Lucent
  • Ceragon Networks
  • Cisco Systems Inc.
  • Actelis Networks
  • Adtran Adva Optical Networking
  • Alvarion
  • Aviat Networks
  • BridgeWave Communications
  • Cambridge Broadband Networks
  • Canoga Perkins
  • DRS Technologies
  • General dynamics
  • L-3 communications
  • MicroStrategy Nippon Avionics
  • OMRON
  • Raytheon company
  • Sofradir
  • TestoAG
  • Texas Instrument
  • Vigo systems
  • Celtro

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Key Segments

By Technology:

  • Microwave
  • Fibre
  • Copper
  • Others

By Product Type:

  • Wired
  • Wireless

By Size of Enterprise:

  • Small Enterprise
  • Medium Enterprise
  • Large Enterprise

By Application:

  • Civil Communication
  • Defence Communication
  • Military Communication
  • Among Others

By Region:

  • North America
  • Latin America
  • MEA
  • Asia Pacific
  • Europe

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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Noise Control System Market Dominance of the Leading Companies Over the Global Industry

The FMI research examines the industrial noise control market from 2021 to 2031. According to the research, the industrial noise control market will develop at a volume CAGR of 3.9 percent through 2031. According to a new analysis by Future Market Insights (FMI), the industrial noise control market is expected to grow at a CAGR over 3.7% between 2021 and 2031.

Growing awareness of environmental noise as a potential health concern, industrial measures are taken to address the impact of external noise sources. FMI shows that the adoption of industrial noise control for external noise control applications will grow at a CAGR of over 3.9%.

Key factors influencing the growth of the industrial noise control market include,

  • Growing awareness of harmful levels of industrial noise
  • Increasing emphasis on the protection of workers and employees from noise pollution
  • Stringent environment regulation related to industrial noise control
  • Incorporation of integrated noise control technologies in advanced industrial machinery

The industrial noise control industry is witnessing a shift toward biodegradable materials over traditional materials. Manufacturers are incorporating green and sustainable materials in design and development of industrial noise control units to align with the ongoing sustainability trend.

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Polymer & Composites Remain Preferred Materials

The FMI study finds that polymer and composites are highly preferred materials for the manufacturing of industrial noise control units. Polymers and composite materials have higher soundproofing properties as compared to other materials such as glass, metal and fabric. In addition, new developments in composite materials provide biodegradability and recyclability, leading to higher sales.

Vibration Isolation Units Highly Sought-After

The FMI study finds that over 8 in 10 industrial noise control units sold by 2020 were equipped with vibration isolation unit. As vibrations can significantly impact the overall productivity and durability of a range of industrial machines, industrial noise control with vibration isolation units are highly sought after.

FMI thoroughly analyzed demand trends of different vibration isolation units such as isolation/machinery pads, isolation mounts, equipment bases and spring isolators. Among these, sales of isolation mounts were higher in 2020 and the demand trend will continue in the future as manufacturers consistently introduce advanced and more efficient vibration isolation mounts.

The industrial noise control market is also studied for flexible and rigid industrial noise control instruments by FMI. While both these noise control units significantly address noise pollution issues, FMI study finds that flexible noise control units accounted for the second highest sales during the forecast period.

Industrial Noise Control Utilization in Internal Application Prominent

The FMI study estimates that demand for industrial noise control units for internal noise control application remained higher as compared to the application in external noise control. Elevated sound levels at workplaces and other commercial or residential places can cause negative human health conditions such as hearing impairment, annoyance, sleep disturbance, hypertension and in some cases ischemic heart disease. Dissemination of knowledge regarding these harmful effects is contributing to increasing sales of industrial noise control units in the internal noise control application.

Demand for Industrial Noise Control Units Consolidates in Manufacturing Sector

According to the FMI study, the manufacturing sector remains a prominent end user of industrial noise control units. Different manufacturing industry verticals such as electrical & electronics, industrial machinery, automotive, metal and others significantly integrate industrial noise control measures.

Keeping the noise within the OSHA levels in the different manufacturing sector is pivotal in ensuring health and wellness of employees.

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Demand in East Asia Continues to Surge, Europe Represents Second Largest Market

As per FMI valuation, countries in East Asia including China, Japan and South Korea registered significant demand for industrial noise control units in 2020. In terms of sales volume, Europe followed East Asia and collectively.

China in East Asia remains leading consumer of industrial noise control. A prominent manufacturing sector in the country contributes to the significant demand for industrial noise control. In Europe, Germany followed by France and the UK accounted for considerable bulk of regional demand in 2020.

While the growth prospects seem steady for the industrial noise control market, development of advanced industrial machineries integrated with noise cancelling technologies and sound or vibration absorbers can impede the market growth in the future.

Noise Control System Market: Taxonomy

By Product Type:

  • Acoustic Panels
  • Acoustic Tiles
  • Sound Curtains
  • Acoustic Surface
  • Sound Insulating Flooring
  • Sound Barrier Walls
  • Baffles
  • Sound Blanket
  • Sound Doors

By Material Type:

  • Fiberglass
  • Wood
  • Plastic Sheets
  • Concrete
  • Other

By Application:

  • Residential Noise Control System
  • Industrial Noise Control System
  • Commercial Noise Control System

By Regions:

  • Asia Pacific Excluding Japan (APEJ)
  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • MEA
  • Japan

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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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Pallet Pooling Market – Major Revenue Gains are Expected by 2032

Pallet pooling ensures the availability of pallets at the operational location, which results in a lean supply chain. Lean supply chain management leads to effective operational lead time. Owing to the rising inclination of most end users towards cost reduction, along with optimum lead time, the pallet pooling market is estimated to gain noteworthy traction in the coming decade.

According to a new research report published by Future Market Insights (FMI), the pallet pooling market is estimated to exhibit 6.2% CAGR over the forecast period, to reach a valuation of more than US$ 11 Bn by the end of 2029.

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Key Takeaways of Pallet Pooling Market Study

  • Pallet pooling has prominent application in the FMCG sector, as warehouses play a crucial role in this industry.
  • In terms of material, plastic pallet pooling is estimated to witness notable demand, owing to high reliability, durability, and cost-effectiveness of plastic pallets as compared to other types.
  • Globally, the pallet pooling market in GCC countries is estimated to witness lucrative growth, owing to the positive outlook for industrial trade activities in the region, particularly for the e-Commerce industry. The U.S. is expected to hold a leading share in the global market, registering a significant CAGR throughout the forecast period.
  • In recent years, pallets tagged with RFID have become more popular amongst end consumers, owing to their ability to provide location as well as detailed information related to stacked products on pallets.
  • Pallet pooling is a one-time investment business, in which, the owner has to purchase pallets and then pooling can be done without any large investment. As a result, the market offers high profit margins to its participants.
  • For the effective operational efficiency of pallets, pallet service providers perform quality checks after the end of every service cycle to provide high-quality pallets and efficient service cycles to end consumers. Continuous and high standard quality checks of pallets are estimated to help players in the global pallet pooling market gain a competitive advantage.

“In the pallet pooling market, flexible payment profiles allow end consumers to pay rent monthly or quarterly at fixed rental rates throughout the term of the agreement, and customizations can be made in rental agreement terms to suit the period of budget allocation and income patterns.”

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Pallet Pooling Market: Competitive Landscape

The pallet pooling market is highly consolidated, owing to the presence of a limited number of pallet pooling service providers across the globe. Brambles Limited, Euro Pool Group, Faber Halbertsma, and Loscam are considered to be leading players in the pallet pooling market. Most market players are focusing on expanding their sales footprint in developing markets such as South Asia and the Middle East through the establishment of additional regional offices and sales partners.

Focus on Technological Advancements in Pallet Pooling

Increasing requirement of technologically-advanced pallet systems throughout the supply chain for lean management is anticipated to support the future growth of the global pallet pooling market.

Find More Insights on Pallet Pooling Market

The research report analyzes the total sales value of the pallet pooling market on the basis of revenue generated by market players from the target product. The market is forecasted on the basis of factors such as warehouse traffic flow, adoption rate, government regulations, and sustainable development. The scope of the research report includes pallet management services catering to FMCG, food & beverages, chemicals & pharmaceuticals, and other related end-use industries.

Key Segment:

By Structural Design:

  • Block
  • Stringer
  • Customized

By Material:

  • Wood
  • Composite
  • Plastic
  • Steel
  • Other Metals

By End Use:

  • FMCG Industry
  • Food & Beverages
  • Pharmaceutical
  • Electronics
  • Chemicals
  • Others

By Region:

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

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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.

Contact Us:

Future Market Insights, Inc

Unit No: 1602-006

Jumeirah Bay 2

Plot No: JLT-PH2-X2A

Jumeirah Lakes Towers

Dubai

United Arab Emirates

For Sales Enquiries: sales@futuremarketinsights.com

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Tipper Body Equipment Market Leaders & Key Revenue Pockets

APEJ accounted for more than 20% of the global tipper body equipment market in 2016 and is expected to account for close to 30% by the end of 2026. In comparison to 2016, the region is expected to gain more than 150 BPS by the end of 2026. The APEJ region is expected to lead the global tipper body equipment market in terms of CAGR during the assessment period, expanding at a healthy CAGR of 4.8 percent.

By the end of 2026, the region’s market value is expected to exceed US$ 1,000 million. Between 2016 and 2026, China is expected to account for more than one-fourth of the value share in the APEJ tipper body equipment market.

In addition, cost-intensive capital and high maintenance will also remain the long-term restraints for market growth. However, high initial costs of purchasing tipper body equipment are subsequently boosting the establishment of tipper rental businesses and compelling those that are already established to become more organised to cater to a growing trend of the rental tipper body equipment.

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Global Tipper Body Equipment Market: Regional Insights

  • A regional analysis of the global tipper body equipment market by Future Market Insights indicates that Asia Pacific (excluding Japan), North America, Latin America, and Europe will be the key markets throughout the next decade.
  • APEJ, driven by China and India, is projected to dominate with more than 28% value share at the end of the assessed period with a gain of 180 BPS.
  • North America will remain the second-largest regional market that is expected to bag over 23% share in 2026.

Global Tipper Body Equipment Market: Key Vendor Insights

  • Among some of the key companies operating in the global tipper body equipment market landscape, Schmitz Cargobull AG and Hyva Global B.V. are likely to continue representing leading revenue shares over the forecast period.
  • Other notable players include Crysteel Manufacturing Inc., Thompsons (UK) Ltd., BION INDUSTRIAL LLC, and F.X. MILLER.
  • While the majority of key players are strategising new product launches, collaborations, and joint ventures, others are focusing more on production capacity expansion and acquisitions.

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Global Tipper Body Equipment Market: Overall Dynamics

With increasing urbanisation and thriving construction and mining sectors, demand for tipper body equipment is expected to remain stable in the coming years. Consistent demand from the waste management industry will also drive the market for tipper body equipment. Furthermore, technological innovation in tipper body products, such as redesigning the driver’s cabin in tipping equipment and vehicles to provide the most convenient operating experience possible, is expected to boost sales in the near future.

Manufacturers’ increasing use of advanced telematics systems is expected to remain a key market driver over the next decade. During the assessment, another key factor identified as potentially driving market growth is the rapid adoption of automation.

Another remarkable trend driving the market includes the development of cost-competitive products to maximise penetration in emerging economies, such as China, India, and South Africa. Development of effective tipper body equipment with enhanced load-carrying capacity and provision of the efficient buyer and drivers’ training by manufacturing entities are likely to present lucrative growth opportunities. While product development with advanced diagnosis systems can be a key to sustaining relatively mature markets, such as North America and Western Europe; massive potential lies in developing countries, including BRIC nations.

Global Tipper Body Equipment Market Segmentation

To understand and assess opportunities in the global tipper body equipment market, we have divided the report into six sections based on market segmentation as under:

By Tipping Type

  • Roll-off Tipper Body
  • 3-Way Tipper Body
  • Rear Tipper Body

By Load Carrying Capacity

  • Below 15 tons
  • 15–30 tons
  • 30 tons & above

By Mechanism

  • Hydraulic
  • Pneumatic

By Frame Material

  • Steel
  • Aluminium

By End Use

  • Mining
  • Construction
  • Waste Management
  • Marine Services
  • Others

By Region

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific Excluding Japan (APEJ)
  • Middle East and Africa (MEA)
  • Japan

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Biogas Market Size | Growth, SWOT Analysis, Top Companies, Competitor Landscape, Regional Outlook by 2031

As per a Future Market Insights (FMI), the global biogas market size is projected to grow at a steady 6.80% CAGR over the forecast period from 2021 to 2031. The overall market size is expected to top US$ 61.2 Bn by 2031, with the U.S., Germany, India, and China emerging as key producers and exporters of biogas.

Shifting focus on renewable sources of energy to reduce fossil fuel dependency is a chief factor driving sales of biogas across various countries. In addition to this, governments in several countries are promoting the adoption of biogas as vehicular fuel, which is expected to augment growth of the market through 2031.

Sales prospects of biogas were dampened due to COVID-19 outbreak. However, with resumption in trade activities, recovery of the biogas market is on cards. FMI has projected demand for biogas to grow year-over-year by 7.10% globally between 2020 and 2021.

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The introduction of circular economy and increasing utilization of anaerobic digestion plants for biogas production are expected to emerge as lucrative trends in the biogas market. A circular economy promotes the reintroduction of wastes in the supply chain, improves waste management, and provides essential lipids for biogas production.

Apart from this, increasing adoption of biogas as vehicular fuel is also expected to fuel growth of the market. Countries such as Germany, Sweden, the U.K., and the U.S. are actively investing in biogas as an alternative to biofuels. This, in turn, is expected to push sales of biogas over the assessment period.

“Growing demand for biogas for household cooking applications, along with government-backed subsidies encouraging the usage of biogas in emerging economies are expected to bode well for the global biogas market through 2031,” says an FMI analyst.

Key Takeaways:

  • Based on source, the municipal segment is expected to expand at a steady pace over the forecast period, due to increasing utilization of municipal solid waste (MSW) for biogas production.
  • In terms of applications, sales of biogas in the electricity segment are projected to continue rising in response to growing demand for renewable sources of energy.
  • The U.S. will emerge as a lucrative biogas market, with sales growing at a 6.10% CAGR in the North America region.
  • Germany will continue exhibiting high demand for biogas due to stringent regulations regarding carbon neutrality. The Europe biogas market is poised to grow at a 5.90% CAGR through 2031.
  • China is expected to remain one of the key producers and exporters of biogas, accounting for a dominant share of the global biogas market.
  • Japan and South Korea will collectively account for 7.40% of the total biogas market share in 2021.

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Biogas Market by Category

By Source:

  • Agriculture
  • Municipal
  • Industrial and Others

By Application:

  • Electricity
  • Heat
  • Vehicle Fuel and Others

Competitive Landscape

Air Liquide, Wartsila, EnviTech Biogas AG, Asia Biogas, SCANDINAVIAN BIOGAS FUELS INTERNATIONAL AB, Schmack Biogas GmbH, Swedish Biogas International AB, PlanET Biogas Global GmbH, S. P. Renewable Energy Source Pvt. Ltd, Agrinz Technologies GmbH, and Greenlane Biogas are among the leading players operating in the global biogas market.

As per FMI’s analysis, top 5 players comprising Total SA, Air Liquide, Wartsila, Planet Biogas Global GmbH, and EnviTec Biogas AG are projected to hold around 27.10% of the total biogas market share in 2021.

Leading players operating in the biogas market are focusing on production facility expansions through mergers, acquisitions, and collaborations. This is expected to assist manufacturers in gaining a competitive edge in the market.

For instance:

  • In October 2021, EnviTech Biogas AG announced a strategic collaboration with BALANCE Erneuerbane Energien GmBH to build a bio-LNG (liquified natural gas) liquefication plant in Germany.
  • In December 2020, Scandinavian Biogas Fuels International AB, a key producer of biogas in the Nordics, announced that it has finalized the acquisition of Ekdalens Biostransport AB. The acquisition is a part of Scandinavian Biogas’s plans to achieve greater integration across the entire value chain, from organic waste to biogas and bio-fertilizers.

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More Insights into the Biogas Market Report

In its latest report, FMI offers an unbiased analysis of the global biogas 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 source (agriculture, municipal, industrial, and others), and applications (electricity, heat, vehicle fuel, and others) across seven regions (North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan (APEJ), Japan, and Middle East & Africa).

About 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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Refrigeration Oil Market is Expected to Increase at a CAGR of 4.9% during the Forecast Period of 2022 and 2032

The world for refrigeration oil market is currently estimated at around US$ 1.369 billion, and is expected to reach US$ 2,332.9 million by 2032. Refrigeration oil market sales are expected to increase at a compound rate of 4.9%. in the period 2022 and 2032.

Increasing consumption of refrigeration oil in various applications such as air conditioners, refrigeration systems, freezers, chillers, chillers and others is expected to boost sales. With this in mind, Future Market Insights (FMI) estimates that the global refrigeration oil market will reach a valuation of US$2332.9 million in 2032.

Refrigeration oil is a lubricant, derived from either mineral oil or synthetic oil which is a blend of a special high-temperature formulation of oils and additives in order to provide lubrication to compressors. The refrigeration oil flows under pressure where it changes its state from liquid to vapours for generation of the cooling effect.

Some of the major reasons for the rise in demand for refrigeration oil in compressors as a lubricant is the cold chain transportation for frozen food, beverages and meat products, HVAC&R systems in healthcare sectors and increasing preferences towards low GWP refrigerants.

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Consumption of electricity power more than 70% by the refrigeration equipment and the depletion of ozone layer due to increasing emission of Green House Gases (GHG) from refrigeration systems has led to the production and adoption of low GWP refrigerants which will boost demand for more energy efficient  refrigeration oil.

Various government organizations are trying to enforce amendments over the industries to reduce the use of HCFCs and CFCs in refrigeration system until 2030 by A5 countries in order to identify such refrigerants as obsolete. Thus, adoption of new refrigerants is expected to be the major reason behind the development of refrigeration oil compatible with these refrigerants in refrigeration.

Segmentation highlights

  • Based on product type, the global refrigeration oil market can be segmented into mineral oil and synthetic oil. The synthetic oil segment is expected to hold a significant share in the global refrigeration oil market and is expected to expand relatively higher in terms of value over the forecast period. The segment is expected to create incremental opportunity more than the mineral oil segment during 2016–2026
  • Based on the refrigerant type the global refrigeration oil market can be segmented as chlorofluorocarbon (CFC), hydro-chlorofluorocarbon (HCFC), hydro-fluorocarbon (HFC), ammonia and others. The growth rate of the others segment is expected to accelerate as compared to remaining refrigerants in terms of value and is anticipated to create a productive incremental opportunity over the forecast period
  • Based on application the global refrigeration oil market can be segmented as air conditioners, coolers, chillers, refrigerators/ freezers, condensers and others. The air conditioners segment is estimated to account for a major share in the overall global refrigeration oil market with relatively maximum CAGR value over the forecast period
  • Based on end user the global refrigeration oil market can be segmented as industrial, commercial and residential. Industrial segment is estimated to be a major contributor in the overall global refrigeration oil market followed by commercial and residential sectors by 2026 end 

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Regional market projections

The global refrigeration oil market is segmented on the basis of region into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East & Africa. APEJ is anticipated to register the highest CAGR in terms of value over the forecast period.

North America and Europe are highly focussed on using low GWP refrigerants in refrigeration oil. The markets of Latin America, Middle East & Africa and Japan are expected to remain stagnant over the forecast period.

Refrigeration Oil Market by Category

By Product Type:

  • Mineral Oil
  • Synthetic Oil

By Refrigerant Type:

  • Chlorofluorocarbon (CFC)
  • Hydro-chlorofluorocarbon (HCFC)
  • Hydro-fluorocarbon(HFC)
  • Ammonia
  • Others

By End User:

  • Industrial
  • Commercial
  • Residential

By Application:

  • Air Conditioners
  • Coolers
  • Chillers
  • Refrigerators/Freezers
  • Condensers
  • Others (Ice Machines etc)

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Vendor insights

The major shareholders of the global refrigeration oil market are MEIWA CORPORATION, Royal Dutch Shell plc, ExxonMobil Corporation, Idemitsu Kosan Co. Ltd, FUCHS Lubricants, Chevron Phillips Chemical Company, BASF SE and The Lubrizol Corporation.

These players have adopted a strategy of capacity expansion of their existing production units and strengthening the sales distribution networks worldwide to meet the increasing demand for refrigeration oil across the globe and are therefore expected to offer productive market opportunity over the forecast period.

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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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Sludge Treatment Chemicals Market : Global Industry Overview and Competitive Landscape till 2032

Future Market Insights (FMI) delivers key insights on the global sludge treatment chemicals market in its latest report titled, “Global Sludge Treatment Chemicals Market: Industry Analysis and Opportunity Assessment, 2022–2032”. 

Global consumption of sludge treatment chemicals is estimated to be pegged at 10,977 thousand tonnes by 2016 end and is expected to increase at a CAGR of 4.7% over the forecast period (2022-2032).

The global sludge treatment chemicals market is projected to reach a value of US$ 14,456.8 Mn by 2032 end expanding at a CAGR of 4.6% during the forecast period. North America is estimated to account for relatively large market share of 32% by 2016 in the global sludge treatment chemicals market.

Demand for sludge treatment chemicals is expected to increase at a significant pace across municipal and industrial sludge treatment plants owing to the stringent regulations by the government and environmental agencies like Environmental Protection Agency (EPA) in North America.

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Increasing awareness among public and lack of availability of fresh water resources are also major factors expected to drive demand for sludge treatment chemicals market worldwide. Rapid industrialization results in an increase in industrial sludge production which needs to be treated, thus supporting the market growth over near future.

Major market players are focusing on mergers and acquisition strategy to expand their product portfolio and footprints worldwide. However, the introduction of membrane technology and sustainable products have changed consumer demand for sludge treatment technologies with a lower chemical consumption. This factor is expected to restrain the growth of sludge treatment chemicals market over the forecast period.

Segmentation highlights

The global sludge treatment chemicals market is segmented on the basis of product type, application, treatment, and region. On the basis of application, the global market is segmented into municipal and industrial sludge treatment chemicals.

  • On the basis of product type, flocculant segment is expected to dominate the market share throughout the forecast period. However, disinfectant segment is expected to expand at a significant rate over the forecast period.
  • Municipal application segment is expected to be the largest segment in terms of revenue throughout the forecast period, due to the increasing investments by the government in establishing sludge treatment plants.
  • On the basis of treatment, primary treatment continues to dominate as the most attractive segment in terms of market share over the forecast period. The primary segment is expected to hold 56.6% of the market share by 2026 end.
  • Tertiary treatment segment is expected to expand at a relatively high CAGR of 5.1% over the forecast period.

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Regional projections

On the basis of region, Asia Pacific is expected to witness a relatively high CAGR of 6.0% in terms of revenue over the forecast period. North America and Western Europe are expected to contribute significant revenue share to the global sludge treatment chemicals market throughout the forecast period. Stringent regulation pertaining to the treatment of sludge has led to long term supply agreements.

Key Segments Covered

By Product Type

  • Flocculant
  • Cationic
  • Anionic
  • Coagulant
  • Organic
  • Inorganic
  • Disinfectant
  • Anti foulant
  • Anti foamers
  • Activated carbon

By Application

  • Industrial
  • Paper and Pulp Industry
  • Food and Beverage Industry
  • Oil and Gas Industry
  • Metal Processing Industry
  • Chemical and Fertilizer
  • Automotive
  • Others
  • Municipal

By Treatment

  • Primary
  • Tertiary

Vendor insights

Some of the key players identified in the global sludge treatment chemicals market are BASF SE, Chembond Chemicals Limited, GE Water and Process Technologies, Kurita Water Industries Ltd., Kemira Oyj., Thermax Ltd., Akzonobel N.V., Solenis, Veolia Water Technologies etc.

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Strengthening of supply chain, particularly in regions such as APEJ and Latin America, is key focus area for players in this market. Manufacturers are focused on developing multifunctional polymers which could help in cost cutting and improved efficiency. A number of sludge treatment chemicals manufactures have been involved in strategic mergers and acquisitions to expand their customer base globally.

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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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Bulk Terminals Market to Achieve A High CAGR Of 10% During Forecast Period -2030

Bulk terminals play instrumental role in industrial infrastructure, wherein they ensure safe and efficient movement of critical resources. Despite current downturns in global seaborne trade due to COVID-19 pandemic, the global minor bulk trade has expanded considerably. Analysts at Future Market Insights (FMI) have estimated that global minor bulk traded has expanded up to 1.74 billion tons.

Production of steel and forest products has made up for 43% of minor bulk trade, says FMI report. In addition, metals and minerals have captured around 37% followed by agricultural products, which represents 20% of minor bulk trade.

Agricultural yield is majorly concentrated on countries such as the US, Argentina, Brazil, China, and India, which accounts for over ¾ of export and import of several grains as minor bulk commodities.

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Bulk Terminals Market Size Study

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

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

COVID-19 Impact on Bulk Terminals Market

The COVID-19 pandemic is triggering huge supply chain disruptions for bulk terminals market due to strict lockdown measures, especially in Asian supplier regions. Such stringent measures have led to dearth of workers – truck drivers and labors – at port terminals.

In addition, the market is suffering due to shortage of transportation facilities such as. Studies reveal that trucks and containers dropped by about 50% due to decreasing number of trailers and unavailability of drivers. This has further slowed down transshipping operations at terminals.

Driven by rising concerns regarding worker safety, several end-use industrial operators have brought manufacturing processes to temporary halt, thereby, hurting the demand for bulk terminals.

In an effort to stay afloat amid the COVID-19 crisis, upgradation in automation capabilities will be critical for bulk terminal market players in immediate future.

Bulk Terminals Market – Competitive Intelligence

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

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

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To Know More About Bulk Terminals Market:

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

Global bulk terminals market segmentation

By Bulk Type:

  • Dry Bulk
  • Grain
  • Coal
  • Iron Ore
  • Others
  • Liquid Bulk
  • Oil
  • Gas

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific excluding Japan (APEJ)
  • Japan
  • Middle East & Africa (MEA)

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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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