Vacuum Packaging Market – Business Opportunities and Global Forecast to 2032

vacuum packaging market is set to enjoy a valuation of US$ 7.5 Bn in 2022, and further expand at a CAGR of 4.9% to reach US$ 12.1 Bn by the year 2032. The vacuum packaging market revenues are estimated to boost with the top 3 countries anticipated to hold 25-30% of the global vacuum packaging market by the end of 2022.

The Polyethylene (PE) segment by the material is expected to hold the major portion of the global vacuum packaging market due to its benefits such as high clarity, oxygen barrier, and excellent seal. The target segment is projected to grow 1.5 times the current market value during the forecast period.

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The global vacuum packaging market reached US$ 7.1 Bn for the year 2021, according to FMI analysis. The demand for vacuum packaging is estimated to accelerate with the top 5 companies estimated to hold around 20-25% of the global vacuum packaging market by the end of the estimated year.

The vacuum packaging market is anticipated to witness a positive growth outlook during the forecast period. A new forecast by FMI anticipates that vacuum packaging sales will rise during 2022-2032 and is projected to offer an absolute growth opportunity of US$ 5.0 Bn.

The Europe and North America regions are anticipated to augment the sales of vacuum packaging by showing high demand for the same. The same regions collectively are anticipated to hold around half portion of the market by the end of 2032.

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Vacuum Packaging Market Outlook

The nature of the business world is shifting. Individually, the shifts aren’t particularly noteworthy, but the cumulative effect of many small shifts over time is starting to become apparent. The trend toward more industrial consolidation has been significant across a variety of subsectors, and the same holds true for the vacuum packing market.

Certain players in the vacuum packing market have set themselves up for future expansion by maintaining healthy profit margins and negligible levels of debt. According to FMI’s analysis, some of these companies have five to 10 times the capital resources of other market leaders, making them ideal candidates for strategic capital investment.

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The next few years will be fascinating as we observe how these businesses allocate their resources considering this potentially disruptive factor. It may be difficult for some of these corporations with big cash reserves and annual cash flows deployable for strategic capital expenditures to discover opportunities on a scale commensurate with their financial strength.

Most vacuum packing market players, even those with in-depth knowledge of substrates, nonetheless need to carefully consider a plethora of potential actions and strategies, paying special attention to the following concerns:

  • Spending on research and development and new product development to ensure a range of strategic possibilities
  • Improving collaboration with fast-moving consumer goods companies and input suppliers, including technology suppliers, shifting the product mix (and processes) towards greater sustainability
  • Redistributing assets and initiating mergers and acquisitions — say, to create a hybrid global-local presence — are all viable options.
  • Increasing coordination with fast-moving consumer goods firms and input suppliers, notably those in the technology sector
  • Modifying the range of products offered (and the methods used to produce them) to be more eco-friendly

All the improvement levers implied by these focal points present opportunities; the challenge is in determining the optimal order in which to implement them. Although it will be necessary to adjust as the trip progresses, paying close attention to these five factors now will lay the groundwork for a successful strategy.

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In the future, vacuum packing companies will require the following three elements if they want to aid customers in innovating and seizing possibilities to make up for current gaps in sustainability.

  • A clear process on how to truly benchmark their packaging items in terms of sustainability, affordability, and ease
  • Recognizing the full opportunity and value at stake for the entire product line as a result of rising sustainability standards.
  • Having a clear and innovative packaging and technology road map, as well as the necessary partnerships in place to meet the evolving packaging needs of consumers and businesses, is essential.

Historic Market Outlook for Vacuum Packaging Market

The vacuum packaging market noticed a CAGR of 4.1% during the historic period and reached US$ 7.1 Bn in 2021.

Vacuum packaging is a form of packaging that removes the air around the food & non-food products and seals the product in waterproof containers that are used to pack and store the products. Vacuum packaging primarily functions by minimizing the oxygen levels in the package thus reducing the oxygen degradation of products and enhancing the overall quality of the product. Vacuum packaging commonly consists of pouches & bags or films which are sometimes lidded over thermoformed trays in order to facilitate better product presentation. With the increased need for prolonged shelf-life and enhanced quality, the demand for vacuum packaging augmented. Also, vacuum packaging offers a sealed barrier against external factors which gains traction among the food industries. It eliminates the use of chemical preservations which keeps the food or the product natural. Overall, the demand for vacuum packaging is projected to bolster during the forecast period.

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Single Dose Radiotherapy Services Market Size, Share & Growth Report for Upto 2030

In single-dose radiotherapy, a single dose of radiation is delivered directly to the tumor in a few minutes and is said to be a safe and effective method for treating men having low-risk prostate cancer. According to Future Market Insights (FMI), the demand for single-dose therapy is expected to rise considerably, enabling the market to surpass US$ 1.1 Bn by 2021. In the coming years the rising cases of breast cancer will support the expansion of the market.

Increasing investments in the market, increasing number of research and development projects, and favorable regulatory policies are some factors enabling growth in the single dose radiotherapy services market share. For example, various government organizations such as American Cancer Society is investing in research and development programs for development of single dose radiotherapy. Recently the American cancer society have funded almost 162 research programs with around $67 million to encourage breast cancer research activities.

Single-dose radiotherapy substitutes the requirement for extra hospital visits, with benefits for patient safety and well-being. Single-dose radiotherapy is delivered during or soon after surgery for breast cancer and is considered a viable alternative to conventional external beam radiotherapy.

Increasing technological advancements in radiotherapy procedure for the treatment of breast cancer and prostate cancer have led to the surging adoption of single-dose radiotherapies in clinical practice associated with improved outcomes. Single-dose radiotherapy is recognized as an extremely cost-effective treatment compared with other cancer treatments.

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The COVID-19 pandemic has changed the national healthcare significances and expenditure however this is considered to be a short-term impact on the single-dose radiotherapy services market. The single-dose radiotherapy services market is expected to experience short-term negative growth owing to a sharp reduction in the number of single-dose radiotherapy services adoption rate in developed and emerging countries.

As a result of the continuing spread of COVID-19, various service providers are focusing on a novel approach to the treat pneumonia associated with COVID-19 using a single low dose of external beam radiation therapy which is known as Single Dose Radiation Therapy (SDRT). Previously various studies are reported regarding use of single small fraction of radiation to treat viral and bacterial pneumonia. Thus, scientists are believing that one small dose of radiotherapy can be effective for covid-19 treatment. This is providing an opportunity for single dose radiotherapy market to grow.

Key Takeaways from Single-Dose Radiotherapy Services Market Study

  • Despite restricted growth amid COVID-19, the demand for single dose radiotherapy is expected to rise at nearly 5% in 2021
  • As a result of increasing incidence of breast cancer, the U.S. will account for over 90% sales in North America
  • Increasing focus on early diagnosis will enable the U.K. register 2.4% Y-o-Y growth in 2021
  • Germany and France are expected to exhibit increasing demand to tackle concerns pertaining to rising incidence of cancer
  • Increasing focus on research and development will drive growth in Japan and South Korea

Increase in Funding For Research Activities Offers Growth Opportunities

Leading service providers in the single dose radiotherapy services market are strengthening their market position through collaboration with various government organization. Governments in various developed and developing countries are actively taking initiatives to encourage various research activities for the development of single-dose radiotherapy. For instance, In Brazil, government is taking initiative to create awareness regarding cancer treatment and research programs.

Pink October campaigns are arranged in Brazil by government, whose aim is to share facts about breast cancer, promoting awareness, providing countless access to diagnostic and therapeutic services, and funding to reduced mortality. One more example is the Blue November campaign, which works analogously to Pink October, however emphasize on prostate cancer.

Who is Winning?

The global market is set to expand in the forecast period, due to the rising prevalence of breast cancer and prostate cancer globally and the adoption of single-dose radiotherapy. Leading organizations within the market are set to focus on research and development to offer early and precise diagnosis of the ailment, besides offering effective patient care.

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

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

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Processed Meat Packaging Market- New Technological Development Projecting Massive Growth till 2032

The global wood pallets market revenues totalled US$ 2.1 Bn in 2021 and it is likely to reach US$ 2.3 Bn in 2022. Furthermore, with rising usage across industries such as food & beverages, building & construction, consumer electronics, and pharmaceutical, the overall sales of wood pallets are projected to rise at 5.4% CAGR between 2022 and 2032, topping a valuation of US$ 3.8 Bn by 2032.

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Amid rising demand for recyclable and eco-friendly packaging solutions, the total demand for wood pallets market is projected to propel with the top 3 countries estimated to hold around 35-40% of the market by the end of 2032.

Wood pallets are wooden platforms or wooden packaging solutions on which goods are stacked and lifted by a forklift, a pallet jack or any other equipment. They are a tertiary form of packaging used for stacking, protecting, storage and transportation of goods in supply chains.

Wood pallets are manufactured from materials such as hardwood and softwood and can be easily handled by using equipment like pallet jacks, conveyors, and forklifts. These pallets are strongly built and provide excellent protection to important or fragile products. They have become ideal alternatives to plastic and metal pallets due to their low cost, durable nature, higher strength, recyclability, and eco-friendly nature.

They find applications across diverse industries including food & beverages, consumer electronics, automotive, etc. where they allow users to easily move heavy stacks. Rapid growth of manufacturing sector across the globe coupled with increasing consumer spending is expected to boost the wooden pallets sales during the forecast period, thereby positively impacting the global wood pallets market.

In recent years, demand for logistics services has risen at robust pace due to increasing sales on online channels, rising internet penetration across developed and developing regions, and the expanding e-commerce industry, which in turn is boosting the wooden pallets market across the globe.

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Similarly, rising growing focus towards sustainability and increasing environmental concerns regarding plastic pollution is prompting end users to adopt eco-friendly products like wood pallets. This will significantly improve the wood pallets market share during the forecast period.

In addition to this, rapid growth of e-commerce industry coupled with rising exports of heavy goods like automotive parts and consumer electronics will foster the growth of wood pallets market in future. As per the World Integrated Trade Solution (WITS), in 2019 the world had a total export of 20,538,351,810.39 in thousands of US$ and this number will further increase during the forecast period, thereby creating opportunities for wood pallet manufacturers.

Based on the aforementioned factors, the global wood pallets market revenues will increase and will create an incremental opportunity of US$ 1.5 Bn during the year 2022-2032.

The global wood pallets market registered a CAGR of 4.5% during the historic years of 2015-2021. However, with rapid expansion of end-use industries and growing demand for rigid packaging solutions for protecting items during storage and transportation, the overall demand for wood pallets is anticipated to increase at 5.4% CAGR between 2022 and 2032.

Wood Pallet can be found in every warehouse and each supply chain around the world. These humble tools have completely changed the way the availability chain works and the way goods are stored and delivered. There are billions of 2-way and 4-way wood pallets in use.

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Wooden pallets are being used for much more than just shipping products. The newest trend in everything from house design to outdoor deck materials is wood pallets. There are numerous ways to recycle and transform wood pallets into something bigger and better than they were before.

Wood pallets are also environmentally friendly and have accurate designs for cargo safety. They are very lightweight. Given its many advantages, wood pallets are in high demand throughout a wide range of sectors, including logistics & transportation, building & construction, etc. Thus, increasing usage of wooden pallets across these sectors will continue to boost the growth of the global wood pallets market during the assessment period.

Manufacturers are increasing the manufacturing capacities at their facilities to keep up with this escalating demand. They are leveraging advanced technologies for manufacturing these packaging tools. This will enable them to improve their productivity and expand their customer base.

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Pain Management Devices Market to be worth US$ 5.68 Billion by 2032, Get Insights FMI

[315 Pages Report] According to the NCBI, over 51 million inpatient surgical procedures are performed in the United States alone each year, with approximately 90 per cent of all hospitalized patients receiving medications via IV. So, the sales of pain management devices such as infusion therapy spikes as the number of surgeries performed rises.

In accordance with the pain management device market report by Future Market Insights (FMI), the market is moving forward strongly with a CAGR of 9% during the forecast period 2022-2032.

The high costs associated with hospitalization have increased the need for shorter hospital stays and a shift to less expensive care settings such as pain management devices, which augments the market growth of pain management devices.

Other factors that contribute to the market’s growth include an increase in demand for pain management devices in developing countries and a rise in the adoption of pain management devices to treat chronic pain.

In addition, during the forecast period, developing economies’ untapped potential presents lucrative pain management devices market opportunities.

Pain management device market trends are expected to be shaped by technological advancements such as wearable pain management devices.

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Hypersensitivity reactions and postoperative infections caused by the use of these chronic pain relief devices, on the other hand, negatively impact the pain management devices adoption trends.

Furthermore, these pain relief devices are typically used as a second-line treatment in patients with chronic pain who have become resistant to drug therapy, making the outlook for pain management devices market future trends highly uncertain.

Taking into consideration all the mentioned factors, the pain management devices market size is predicted to be valued at US$ 3.3 Bn by 2026.

Key Takeaways:

  • By application, neuropathic pain is expected to lead the market, owing to technological advancements in pain management machines and a surge in demand for pain management devices for the management of neuropathic pain.
  • The neuromodulation and neurostimulation devices segment is anticipated to come to the fore by-product because of the cost efficiency offered by these pain relief equipment and an increase in the target population.
  • Whereas, Radiofrequency ablation is expected to grow the fastest during the forecast period by-product due to its widespread use in pain management, surgical oncology, gynaecology & cardiac rhythm management, and cosmetology.
  • During the forecast period, the Asia Pacific market is expected to grow at the fastest CAGR, and this expansion can be attributed to R&D investments in the development of technologically advanced healthcare treatment options.

“North America has been a pioneer in the development of pain management devices and services in the healthcare industry. The United States market is expected to elicit several emerging trends in the pain management devices market in the near future, owing to the increasing incorporation of the best pain relief devices in ambulatory care centres and many major global players are also based in the United States, which has resulted in the country becoming a centre of innovation in the pain management device market.” points an FMI analyst.

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Competitive Landscape:

Medtronic is a significant global pain management devices market player. Medtronic is expected to maintain its market leadership due to its diverse product portfolio, strong distribution network, and strategic marketing policies. This company, along with Boston Scientific Corporation, currently controls the majority of the global market.

LivaNova, Abbott, Nevro Corp, and SPR Therapeutics are some of the other significant pain management medical device companies.

To strengthen their market position and pain management devices market share, the key companies have undertaken a number of strategic initiatives, including technological innovation, partnership, regional expansion, and mergers and acquisitions.

Some recent developments in the pain management devices market are as follows:

  • Smiths Medical has released version 4.2 of the CADD-Solis ambulatory infusion pump. This new version of the wireless bi-directional communication pump will aid in the integration of pain management data with the patient’s EMR records.
  • Boston Scientific has announced the release of WaveWriter Alpha, a Spinal Cord Stimulator (SCS) system designed to address pain management challenges. The SSC portfolio includes conditional devices that provide Fast Acting Sub-Perception Therapy (FAST), which is designed to provide pain relief in minutes.
  • Hinge Health, a Digital Musculoskeletal Clinic, announced the acquisition of the developer of Enso, a clinically validated non-invasive technology that aids people suffering from musculoskeletal pain. This merger of Hinge Health’s Digital MSK Clinic and Enso’s technology ushers in a new pain management devices era.

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Key Segments

By Type:

  • Neurostimulation Devices
  • Infusion Pumps
  • Ablation Devices

By Application:

  • Neuropathic Pain
  • Musculoskeletal Pain
  • Cancer Pain
  • Facial Pain & Migraine
  • Other Applications

By Mode of Purchase:

  • Prescription
  • Over-the-counter

By Region:

  • North America
    • US
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • RoE
  • Asia
    • Japan
    • China
    • India
    • RoAPAC
  • Latin America
  • Middle East & Africa

Ultra-High Performance (UHP) Tire Market Trends, Growth, Future Demand, Analysis and Forecast by 2031

The global UHP tires market is projected to reach a valuation of US$ 10.41 Bn in 2021. Increasing demand for high performance vehicles in the automotive sports sector is expected to push sales of UHP tires at 10.9% CAGR, with the market valuation reaching US$ 23.32 Bn in 2031.

Rapid expansion of the automotive sector is resulting increasing sales of sports cars, SUVs, and light trucks across the globe. These vehicles are expected to offer optimal performance in all weather conditions, which in turn is spurring demand for ultra-high performance tires.

Besides this, shifting consumer preference towards high performance automotive components backed by rising disposable income is creating lucrative growth prospects for UHP tires market players.

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As per FMI’s regional analysis, the U.S. is anticipated to dominate the North America UHP tires market. Growth can be attributed to strong presence of key automotive players in the U.S., along with rapid adoption of new technologies to manufacture more efficient and durable tires. These trends will continue augmenting growth of the UHP tires in North America over the assessment period.

“Rising popularity of automotive racing sports such as Formula one, coupled with increasing replacement and repair of vehicle parts through aftermarket, will continue augmenting growth of the global UHP tires market through 2031,” says an FMI analyst.

Key Takeaways:

  • By tire type, all-season tires are expected to account for more than half of total UHP tires market share in 2021.
  • Sales of UHP tires in the sports car segment are anticipated to hold nearly 57% of the total UHP tires market share in 2021.
  • The replacement/aftermarket segment is projected to account for more than three-quarter of the total UHP market share in 2031.
  • The U.S. is anticipated to hold a dominant share of 81.5% of the North America UHP tires market in 2021.
  • China will emerge as a lucrative market, creating an incremental opportunity of US$ 1 Bn in 2031.
  • Germany is projected to account for 17.9% of the Europe UHP tires market share in 2031.
  • Japan and South Korea will hold 43.5% and 26.0% of the global UHP tires market share respectively.

Competitive Landscape

Leading players operating in the global UHP tires market include Continental AG, Goodyear Tire & Rubber Company, Michelin Group, Pirelli & C. S.p.A., Bridgestone, KUMHO TIRE Co., Inc. , Yokohama Rubber Co., Ltd, Nankang Rubber Tire Corp., Ltd. , HANKOOK TIRE & TECHNOLOGY Co., Ltd., Toyo Tires and others.

To gain a competitive edge in the market, players are focusing on research and development to launch new variants of UHP tires. Apart from this, players are investing in strategic collaborations, mergers and acquisitions to expand their global footprint. For instance:

  • Michelin is launching a new generation of four-season tires. The new MICHELIN CrossClimate 2 tire stands out through its excellent mileage performance and its ability to maintain a high level of performance from the first kilometer to the last, i.e. all the way down to the legal minimum tread depth. It illustrates Michelin’s commitment to designing tires that offer a very high level of performance throughout their life and right up to their end of life.
  • Yokohama Tire’s long, successful history with Porsche Motorsport North America (PMNA) continues. Yokohama and PMNA announced a new racing series and partnership with the United States Auto Club (USAC). Yokohama will be the official tire partner and presenting sponsor for the USAC-sanctioned 2021 Porsche Sprint Challenge North America by Yokohama.

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Ultra-High Performance (UHP) Tires Markey by Category

By Tire Type:

  • Summer
  • Winter
  • All-Season

By Vehicle Type:

  • Sports Car
  • SUV/MUV
  • Light Trucks

By Sales Channel:

  • OEM
  • Replacement/Aftermarket

By Region:

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

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Top Reports Related To Automotive Market Insights

Bicycle Market : is anticipated to have a stable CAGR of 5.8% during the forecast period of 2022-2032. According to FMI, the bicycle market is expected to grow from US$ 59,882.2 Mn in 2021 to US$ 109,511.7 Mn by 2032.

Automotive Engineering Services Market : is likely to strengthen its hold in the global market at a moderate CAGR of 8.6% during the forecast period. The global market holds a forecasted revenue of US$ 166.16 Bn in 2022 and is likely to cross US$ 348 Bn by the end of 2032.

Automotive Back-up Camera Market : are expected to create an incremental opportunity of more than US$ 2.6 Bn by 2022, expanding at a staggering CAGR of around 8% to 9% during the forecast period 2022-2032.

Aircraft Strut Market : is anticipated to reach US$ 3.9 Billion in 2022 and exhibit growth at a CAGR of 6.5% in the forecast period from 2022 to 2032.

Trim Tabs Market : is anticipated to grow at a steady CAGR of over 3.1% during the forecast period from 2022 to 2032.

About Future Market Insights (FMI) 

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

Contact:

Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Automated Guided Vehicle (AGV) Market Size, Share, Growth Trends, and Forecast Analysis to 2031

As per ESOMAR-certified consulting firm Future Market Insights’ (FMI’s) recent market analysis, growth is on the cards for the global automated guided vehicles (AGV) market. The report forecasts the market valuation to reach US$ 996 Mn in 2021, growing at an impressive 7.9% CAGR through 2031.

Rapid urbanization and adoption of industrial automation within logistics, transportation, and healthcare industry across the globe will propel sales. Owing to the growing need of automation, the market experienced year-on-year growth at 5.4% in 2020-21.

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Growing automation in material handling solutions will enhance growth prospects during the forecast period. Also, laser-guided AGVs will gain immense popularity among manufacturers as they offer greater precision and reliability.

Reduction in labor costs, human errors, and round-the-clock accessibility of AGVs are key factors increasing the adoption within end-use industries.

Expansion of automotive, consumer goods, retail, and oil & gas industries in developed countries such as the U.S., the U.K., and Germany will continue to boost sales. This will allow AGV manufacturers to focus on capacity expansion, creating growth opportunities over the coming years.

Expansion of production facilities across India, China, South Korea, and Brazil also will boost the AGV sales. Deployment of AGVs to streamline operations with reduced costs and added productivity will also aid the growth in these economies.

“Growing need for industrial automation is expected to boost the adoption of AGVs over the coming years. With increasing adoption of AGVs within automotive, healthcare, logistics, and e-commerce industry, key players will witness lucrative growth opportunities during the forecast period,” says the FMI analyst

Key Takeaways from Automated Guided Vehicle Market Survey

  • In terms of technology, laser-guided AGVs will dominate the segment due to their highly accurate navigation systems.
  • Based on end-use, logistics sector will generate high demand for automated guided vehicles.
  • Increasing application in transportation will foster the AGV sales during the forecast period
  • Tow vehicles will emerge as the most preferred vehicle type in the automated guided vehicle market.
  • The U.S. is projected to witness high demand for automated guided vehicles, owing to the presence of various end-use industries.
  • The U.K. will showcase a positive demand outlook, due to expansions in the automotive and eCommerce industry.
  • China will provide lucrative opportunities for AGV manufacturers due to high production volumes in manufacturing industries prevailing in the country.
  • India will experience demand for automated guided vehicles, owing to the increasing adoption of industrial automation within logistics sector

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Competitive Landscape

JBT Corporation, Daifuku Co., Ltd., Kuka AG, Omron Adept Technologies, Inc., Kion Group AG, Oceaneering International Inc., Transbotics Corporation, AGVE Group, Inc., Seegrid Corporation, Murata Machinery, AVT Europe NV, SSI Schaefer, Toyota Industries Corporation, Cassioli Srl, Robotnik, Mecalux, S.A, Kollmorgen, Bastian Solutions, Inc., and E&K Automation GMBH are some top manufactures operating in the automated guided vehicle market.

As per FMI’s analysis, key manufacturers will account for approximately 43% of the total market share. Key strategies leveraged by players in the automated guided vehicle market include production facility expansions, coupled with strategic partnerships aimed at product innovation to support the growing demand for AGVs.

  • In May 2021, Daifuku Co. Ltd. announced the establishment of a new production facility in Boyne City, Michigan. The production plant will facilitate the manufacturing of AGVs for airports, automotive, and eCommerce industries, including world-famous Amazon.
  • In June 2021, Seegrid Corporation launched the new Tow Tractor Series 8 with enhanced features such as excellent navigation, extended field of view, and shorter clearance height for managing various cart trains. The product line features Smart Path technology, increasing the fleet’s ability to navigate safely and moving materials reliably in high-traffic facilities.

Automated Guided Vehicle Market by Category

By Technology Type:

  • Laser Guidance
  • Magnetic Guidance
  • Infrared Guidance
  • Wire Guidance
  • Inertial Guided
  • Optical Guided

By Application Type:

  • Transportation
  • Distribution
  • Storage

By Vehicle Type:

  • Unit Load Carrier
  • Pallet Truck
  • Assembly Line Vehicle
  • Tow Vehicle
  • Forklift Truck
  • Light Load Transporters

By End Use:

  • Logistics
  • Healthcare
  • Automotive
  • Manufacturing
  • Food & Beverages
  • Aerospace

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Key Points Covered in Automated Guided Vehicle Market Survey

  • Market estimates and forecast 2021-2031
  • Key drivers and restraints impacting market growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Automated Guided Vehicle Market and how to Navigate
  • Recommendation on Key Winning Strategies

Top Reports Related To Automotive Market Insights

Automotive Axle Market : garnered a market value of US$ 61.2 Billion in 2022 and is expected to accumulate a market value of US$ 74.60 Billion by registering a CAGR of 2% in the forecast period 2022-2032.

Mechanical Performance Tuning Components Market : will reach at an estimated value of US$ 197.7 Bn, registering 4% CAGR during the forecast period (2022-2029). The overall demand in the market is expected to surpass US$ 260.7 Bn by the end of 2029.

Motorcycle Suspension System Market : to grow with a CAGR 4.7% in between 2022 to 2029 reaching a value of US$ 2,381.6 Mn by 2029 end.

Automotive Windshield Washer System Market : to grow with a year on year growth of 5.7% in 2022 reaching a value of about US$ 19 Bn by 2022 end.

Automotive Screenwash Products Market : demand is anticipated to be valued at US$ 2.05 Billion in 2022, forecast to grow at a CAGR of 2.5% to be valued at US$ 2.62 Billion from 2022 to 2032.

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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Wood Pallets Market – Major Revenue Gain is Predicted by 2027

The global wood pallets market revenues totalled US$ 2.1 Bn in 2021 and it is likely to reach US$ 2.3 Bn in 2022. Furthermore, with rising usage across industries such as food & beverages, building & construction, consumer electronics, and pharmaceutical, the overall sales of wood pallets are projected to rise at 5.4% CAGR between 2022 and 2032, topping a valuation of US$ 3.8 Bn by 2032.

Amid rising demand for recyclable and eco-friendly packaging solutions, the total demand for wood pallets market is projected to propel with the top 3 countries estimated to hold around 35-40% of the market by the end of 2032.

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Wood pallets are wooden platforms or wooden packaging solutions on which goods are stacked and lifted by a forklift, a pallet jack or any other equipment. They are a tertiary form of packaging used for stacking, protecting, storage and transportation of goods in supply chains.

Wood pallets are manufactured from materials such as hardwood and softwood and can be easily handled by using equipment like pallet jacks, conveyors, and forklifts. These pallets are strongly built and provide excellent protection to important or fragile products. They have become ideal alternatives to plastic and metal pallets due to their low cost, durable nature, higher strength, recyclability, and eco-friendly nature.

They find applications across diverse industries including food & beverages, consumer electronics, automotive, etc. where they allow users to easily move heavy stacks. Rapid growth of manufacturing sector across the globe coupled with increasing consumer spending is expected to boost the wooden pallets sales during the forecast period, thereby positively impacting the global wood pallets market.

In recent years, demand for logistics services has risen at robust pace due to increasing sales on online channels, rising internet penetration across developed and developing regions, and the expanding e-commerce industry, which in turn is boosting the wooden pallets market across the globe.

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Similarly, rising growing focus towards sustainability and increasing environmental concerns regarding plastic pollution is prompting end users to adopt eco-friendly products like wood pallets. This will significantly improve the wood pallets market share during the forecast period.

In addition to this, rapid growth of e-commerce industry coupled with rising exports of heavy goods like automotive parts and consumer electronics will foster the growth of wood pallets market in future. As per the World Integrated Trade Solution (WITS), in 2019 the world had a total export of 20,538,351,810.39 in thousands of US$ and this number will further increase during the forecast period, thereby creating opportunities for wood pallet manufacturers.

Based on the aforementioned factors, the global wood pallets market revenues will increase and will create an incremental opportunity of US$ 1.5 Bn during the year 2022-2032.

The global wood pallets market registered a CAGR of 4.5% during the historic years of 2015-2021. However, with rapid expansion of end-use industries and growing demand for rigid packaging solutions for protecting items during storage and transportation, the overall demand for wood pallets is anticipated to increase at 5.4% CAGR between 2022 and 2032.

Wood Pallet can be found in every warehouse and each supply chain around the world. These humble tools have completely changed the way the availability chain works and the way goods are stored and delivered. There are billions of 2-way and 4-way wood pallets in use.

Wooden pallets are being used for much more than just shipping products. The newest trend in everything from house design to outdoor deck materials is wood pallets. There are numerous ways to recycle and transform wood pallets into something bigger and better than they were before.

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Wood pallets are also environmentally friendly and have accurate designs for cargo safety. They are very lightweight. Given its many advantages, wood pallets are in high demand throughout a wide range of sectors, including logistics & transportation, building & construction, etc. Thus, increasing usage of wooden pallets across these sectors will continue to boost the growth of the global wood pallets market during the assessment period.

Manufacturers are increasing the manufacturing capacities at their facilities to keep up with this escalating demand. They are leveraging advanced technologies for manufacturing these packaging tools. This will enable them to improve their productivity and expand their customer base.

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Bicycle Components Aftermarket Brief Forecast and Analysis by Top Key Players to 2032

Over the forecast period of 2022-2032, sales in the global bicycle components aftermarket are expected to grow at a CAGR of 6.9%, to reach a valuation of US$ 28.3 Bn by the end of 2032. Rising bicycle fleet across the globe is expected to be the key driving factor for the demand for bicycle components.

Growing popularity of bicycling as a recreational activity is expected to fuel the growth in the bicycle component aftermarket. Individuals are preferring cycling as a recreational and fitness activity across the globe.

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Increasing awareness regarding chronic disorders caused by leading a sedentary lifestyle among consumers is driving interest in cycling for a healthy lifestyle. As more individuals use biking as a regular form of exercise, demand for bicycle components is expected to increase at a considerable pace.

Rising importance of sports activities, particularly for health reasons, as well as celebrity endorsement and international or national sporting events, are encouraging people to participate in a variety of cycling activities. Backed by the aforementioned factors, sales of bicycle components will continue gaining traction over the assessment period.

“Increasing demand for electric bicycles, along with rising deployment of bicycle fleet across public entertainment infrastructures such as amusement parks, resorts and adventure parks will augment sales in the market,” says an FMI analyst.

Key Takeaways:

  • Based on bicycle type, the electric bicycle segment will create an absolute dollar opportunity worth US$ 4.9 Bn.
  • Sales of bicycle components from department sales are expected to account for 1/3rd of overall aftermarket sales.
  • In terms of component, the road groupsets segment is anticipated to hold more than half of the total market share.
  • The U.S. is expected to dominate the North America bicycle component aftermarket, with demand growing at a 4% CAGR over the forecast period.
  • Sales in the China market will hold 2/3rd of the East Asia bicycle component aftermarket share.
  • Demand in the India bicycle components aftermarket will grow at a 7.2% CAGR over the forecast period.

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Competitive Landscape

Dorel Industries Inc., Accell Group N.V., Shimano Inc., SRAM LLC, Hero Cycles Limited, Campagnolo S.R.L., Merida Industry Co., Ltd., Specialized Bicycle Components, Rohloff AG, Giant Manufacturing Inc., and Avon Cycles Ltd. are some of the leading manufacturers operating in the global bicycle components aftermarket.

Key Segments Covered in Bicycle Components Aftermarket Industry Analysis

By Component Type:

  • Derailleurs
  • Road Groupsets
  • Suspensions
  • Wheel Sets
  • Brakes
    • Hydraulic
    • Mechanical
  • Caliper Type
  • Gears
  • Others (Bottom Brackets etc.)

By Sales Channel:

  • Specialty Bicycle Retailers
  • Discount Stores
  • Department Stores
  • Full-line Sporting Goods Stores
  • Outdoor Specialty Stores
  • Other Sales Channel

By Bicycle Type:

  • Mountain Bike
  • Hybrid/Cross
  • Road
  • Comfort
  • Youth
  • Cruiser
  • Recumbent/Tandem
  • Electric
  • Folding

By Region:

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

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About FMI – Automotive and Transportation

The Automotive and Transportation division of FMI provides exclusive coverage and actionable insights about automotive and transportation industry encompassing automotive, aviation, shipping and marine, and railway sector. Market findings and competition intelligence of OEM, aftermarket, services and technology landscape have helped numerous industry stakeholders’ right from automakers, component manufacturers, channel partners and service providers in taking informed decisions and keeping them up-to-date with market behavior.

Top Reports Related To Automotive Market Insights

Automotive Seating Market : is likely to be valued at US$ 52,941.6 million in 2022 and is predicted to secure a slow-paced CAGR of 3.40% during the forecast period. The market is expected to grow at a value of US$ 73,960.9 million by 2032.

Automotive Foams Market : demand is anticipated to be valued at US$ 42,300.0 Million in 2022, forecast to grow at a CAGR of 11.2% to be valued at US$ 122,289.2 Million from 2022 to 2032.

Automotive Electronics Market : demand is anticipated to be valued at US$ 300,332.43 Million in 2022, forecast to grow at a CAGR of 7.30% to be valued at US$ 607,574.4 Million from 2022 to 2032.

Automotive Air Filter Market : is expected to be valued at US$ 5,321.3 Million in 2022, and is projected to reach US$ 6,680 Million by 2032.

Train Seat Market : is likely to hold a value of US$ 1933 Million. With a CAGR of 4.5%, the market is projected at US$ 3001 Million during the forecast period from 2022 to 2032.

About Future Market Insights (FMI) 

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

Contact:

Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Automotive ECU Market : Value Chain, Stakeholder Analysis and Trends by 2032

The automotive ECU market is projected to increase at a 6.1% CAGR from 2017 to 2022, reaching US$ 48,500.0 million. The market is projected to reach US$ 77,887.0 million by 2032.

Automotive ECU or Electronic Control Unit is a family of computer systems that controls and maintains the entirety of electronic, electrical and mechanical systems of a vehicle. ECU can be classified based on the functions such as Engine Control Module (ECM), Body Control Module (BCM), Electronic Brake Control Module (EBCM), Powertrain Control Module (PCM), Transmission Control Module (PCM), Suspension Control Module (SCM), Door Control Unit (DCM), Battery Management System (BMS), General Electric Module (GEM) and others. Automotive functions ranging from the movement of the windows to the amount of air-fuel mixture required for each engine cylinder has an ECU system embedded with it which is recorded, analyzed and stored in the microcontroller. Technological advancements in automotive technology has led to an increase in implementation of complex ECUs in a vehicle. Some of the automobile models running today on the roads have more than 80 different ECUs present in it.

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Automotive ECU Market Dynamics

Increased demand for technologically advanced vehicles like hybrid cars in the developed and developing countries is one of the major factors driving the growth of ECU market. Government regulations to reduce fuel usage and increasing demand for better mileage of the vehicles by the general public is another major factor leading to high growth of ECU market in the automotive industry. The steady growth of alternative vehicle choices such has the hybrid and pure electric cars in the developed nations has contributed significantly to the ECU market due to high complexities of these vehicles over conventional vehicles. Driver safety, security concerns, ease of driving, low maintenance demanded by the customers are also some of the factors driving the growth of ECU market.

The involvement of smartphones connected to the vehicle providing the driver with real time information about the state of vehicle is a major trend in recent times. These advanced ECU systems with the provision to connect with the smartphones easily can lead to an improvement in the growth of ECU systems.

An ECU system usually comprises of electronic and mechanical components working in tandem with each other. Perfect integration of these components is a major challenge which in turn can hinder the growth of the ECU market.

Automotive ECU Market: Regional Outlook

The Global Automotive ECU system market is segmented into seven geographical regions such as North America, Latin America, Western and Eastern Europe, Asia Pacific Excl. Japan (APEJ), Japan, Middle East and Africa (MEA). Automotive production hubs such as China, India, and South Korea in the APEJ region is anticipated to grow at a significant CAGR due to steady growth of automotive production and sales. North America has witnessed a steady growth rate in the adoption of hybrid and electric vehicles leading to improved sales of automotive ECU market in the region.

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Automotive ECU Market: Key Players

Some of the major players identified in the Global Automotive ECU Systems are:

  • Robert Bosch GmbH
  • Continental AG
  • Magneti Marelli S.p.A.
  • Denso Corporation
  • ZF TRW Automotive
  • Delphi Automotive
  • Autoliv Inc.
  • Hitachi Automotive Systems Ltd.
  • Takata Corporation
  • Mitsubishi Electric Co.
  • Panasonic Corporation
  • Hella KGaA Hueck & Co. (Hella)

Automotive ECU Market: Segmentation

Automotive ECU System Market can be segmented by vehicle type, sales channel and applications.

By Types:

  • Passenger vehicles
  • Internal Combustion Engines
  • Hybrid Vehicles
  • Battery Electric Vehicles (BEV)
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles

By Sales Channel:

  • Original Equipment Manufacturer
  • Aftermarket

By Application:

  • Engine Control Module
  • Transmission Control Module
  • Powertrain Control Module
  • Airbag Control Module
  • Body Control Module
  • Electronic Braking Control Module
  • Steering Control Module
  • Climate Control Module

By Region:

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

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Report Highlights:

  • Detailed overview of parent market
  • Changing market dynamics in the industry
  • In-depth market segmentation
  • Historical, current and projected market size in terms of volume and value
  • Recent industry trends and developments
  • Competitive landscape
  • Strategies of key players and products offered
  • Potential and niche segments, geographical regions exhibiting promising growth
  • A neutral perspective on market performance
  • Must-have information for market players to sustain and enhance their market footprint

Top Reports Related To Automotive Market Insights

Automotive Radar Market : is expected to reach a valuation of US$ 4,614.5 Million in 2022. The expanding scope of application and technology innovation are projected to be the market’s primary growth drivers.

Aerospace Fasteners Market :  is likely to be valued at US$ 7,834.5 million in 2022 and is predicted to secure a moderate-paced CAGR of 6.4% during the forecast period.

Automotive Carbon Brake Rotors Market : is projected to grow at a CAGR of 7.6% and is expected to exceed US$ 5521.3 million in 2022 to reach US$ 11485.9 million by 2032.

Automotive AC Compressor Market :  due to the growing demand during the forecast period. It is anticipated to be appraised at US$ 13,696.2 Mn by 2032, up from US$ 9,342.1 Mn in 2022.

Autonomous Vehicles Market : size is expected to be valued at US$ 35,282.8 Million in 2022. The overall demand for Autonomous Vehicles is projected to grow at a CAGR of 10.9% between 2022 and 2032, totaling around 99,451 million by 2032.

About Future Market Insights (FMI) 

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

Contact:

Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse All Reports: https://www.futuremarketinsights.com/reports
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Plastic Bottles Market Growth Factors, Opportunities, Ongoing Trends and Key Players 2026

The global plastic bottles market size reached US$ 60.2 Bn in 2021 and is likely to surpass a valuation of US$ 62.5 Bn in 2022. Furthermore, with rising adoption across diverse industries such as food & beverages, pharmaceutical, personal care & cosmetics and homecare, the overall sales of plastic bottles are expected to rise at 5.5% CAGR between 2022 and 2032, totalling a valuation of US$ 97 Bn by 2032.

Over the years, demand for plastic bottles has risen at a significant pace and the trend is likely to continue during the forecast period, with the top 3 countries estimated to hold 30-35% of the overall plastic bottles market in 2022.

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Plastic bottles are low cost and lightweight packaging solutions made from high-density or low density plastic materials like PET, PP, PE, and PVC. They have become highly sought-after packaging solutions used for storing and transporting liquids and semi-liquids such as water, soft drinks, oils, milk, shampoo, medicines, cosmetics etc.

Thus, increasing production and sales of these products is expected to provide a strong thrust to the growth of plastic bottles market during the forecast period.

Plastic bottles have become ideal alternatives to glass bottles due to their attractive features such as low cost, lightweight, easy manufacturing, and impact resistant property. Growing awareness about these benefits of plastic bottles will therefore boost their sales in the coming years.

Similarly, increasing investments in R&D for developing novel plastic bottles will further expand the global plastic bottles market size during the forecast period. Various companies are continuously striving to develop plastic bottles from recycled plastics as well as natural sources. For instance, in 2022, Dasani launched bottles made from 100% PET.

Based on the aforementioned factors, the plastic bottles market is anticipated to expand 1.5x times the current market value during the forecast period.

The global plastic bottles market witnessed steady growth of 2.4% CAGR over the historic period of 2015 to 2021 and reached around US$ 60.2 Bn by the end of 2021.  However, with rising application of plastic bottles across various industries, the overall demand is set to grow at a steady CAGR of 4.5% between 2022 and 2032.

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Plastic bottles are made from different materials of plastic including PET, PP, PE, etc. They are usually made of high and low densities which helps it to make the bottles rigid. Plastic bottles are very resistant to any damages and are cost-effective. The main benefit of plastics are they can be as rigid as possible so their durability remains for a longer span.

Many plastics are a threat to the environment though plastics now have become more sustainable which is having a significant impact on the plastic bottles market and the environment too. Plastic bottles can be customized in various varieties and they can be utilized for single use or can be used multiple times. Plastic bottles are trending among the consumers as they are super lightweight and can be handled anywhere easily.

Due to various benefits of plastic bottles, their application area is gradually widening. They are being increasingly used for packaging beverages, drugs, cosmetics, etc. Thus, growing production and consumption of these items will eventually boost the growth of plastic bottles during the assessment period.

ABOUT FUTURE MARKET INSIGHTS, INC.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com 
Browse Latest Market reports: https://www.futuremarketinsights.com/reports