Australia and New Zealand Low and Medium Voltage Drive Industry Rising to US$ 1,137.1 million by 2033, With a 4.9% CAGR

According to a Future Market Insights (FMI) report, the sales of low and medium voltage drives in Australia and New Zealand are valued at over US$ 745.0 Million in 2023, with a stable long-term projection. A new report estimates that the demand is expected to rise at a CAGR of 4.9% from 2023 to 2033. This would take the total revenue to US$ 1137.1 Million by 2033.

There is a growing recognition of the need to reduce carbon emissions and a rising demand for energy-efficient technologies, leading to an increased demand for low and medium-voltage drives. Advancements in control algorithms, power electronics, and semiconductors have made it possible to produce more energy-efficient drives that are now more affordable and widely adopted.

The increasing adoption of renewable energy sources like wind and solar power has also driven the demand for energy-efficient voltage drives. These energy sources require a more efficient and flexible power grid, and energy-efficient drives can help regulate power flow and ensure effective distribution. As a result, demand for energy-efficient drives is expected to grow significantly.

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Another notable trend prevailing in Australia and New Zealand is the demand for advanced control and monitoring features in drives. Integrating cutting-edge sensors, communication protocols, and control algorithms has enabled movements to monitor and control several parameters in real time, improving efficiency, reliability, and safety in applications such as pumps, fans, and compressors.

Safety is a crucial concern in industrial and commercial settings, pushing the demand for drives with built-in safety features. These features, including emergency stop buttons, safety interlocks, and overload protection, play a vital role in preventing accidents, protecting equipment and personnel, and ensuring compliance with safety regulations.

Overall, sales of low and medium-voltage drives in Australia and New Zealand are influenced by the need for energy efficiency, advancements in control technology, safety requirements, and the demand from various industries and applications.

Key Takeaways from Australia and New Zealand Low and Medium Voltage Drive Industry Analysis:

  • Sales in Australia and New Zealand are expected to rise at a CAGR of 4.9% through 2033.
  • By end-use industry, the medium voltage drives (power generation) segment is projected to account for a prominent share of 33.6% in 2023.
  • By power rating, the medium voltage drives (1 MW to 3 MW) segment is observed to account for a prominent share of 52.5% in 2023.

Competition Landscape:

The low and medium voltage drive landscape in Australia and New Zealand is moderately consolidated, with a few global players acquiring around 40% to 45% of the shares. These players are likely to invest in new technology developments and expand their distribution networks to maintain their presence. Key manufacturers of low and medium voltage drives include Siemens AG, ABB, Danfoss, and Schneider Electric, among others.

For instance,

  • In December 2021, Mitsubishi Electric Corporation announced it received the 2021 Research and Development 100 Award from the USA Research and Development World publication.
  • In March 2021, Rockwell Automation improved the performance of the PowerFlex 6000T medium voltage drive. Industrial businesses can benefit from improvements to the Allen-Bradley Power Flex 6000T medium voltage drive.
  • In August 2021, ABB expanded low-voltage motor production capacity at the Faridabad plant powered by renewable energy.
  • In April 2021, Schneider Electric reinforced its medium voltage product portfolio with the addition of the Altivar Process ATV6000.

Key Players Operating in the Australia and New Zealand Low and Medium Voltage Drive Industry:

  • Siemens AG
  • Delta Power Electronics
  • Fuji Electric Global
  • ABB
  • Yaskawa
  • Rockwell Automation
  • Eaton
  • Nidec
  • TMEIC
  • TECO
  • Schneider Electric
  • Amtech
  • GE Power Conversion
  • Benwshaw Applied Motor Controls
  • Maschinenfabrik Reinhausen GmbH

Segmentation

By Voltage Level:

  • Medium Voltage Drives
    • Low-medium Voltage (1 kV to 3 kV)
    • Medium-high voltage (3 kV to 6 kV)
    • High voltage (6 kV and above)
  • Low Voltage Drives
    • Up to 230V
    • 230V to 690V
    • 690V to 1 KV

By Power Rating:

  • Medium Voltage Drives
    • <1MW
    • 1 MW to 3 MW
    • 3 MW to 7 MW
    • > 7 MW
  • Low Voltage Drives
    • Up to 750 W
    • 750 to 7500 W
    • 7500 to 75000 W

By Drive Type:

  • Medium Voltage Drives
    • Variable Frequency Drives (VFDs)
    • Servo Drives
    • Direct Torque Control (DTC) Drives
    • Vector Control Drives
    • Sensorless Control Drives
  • Low Voltage Drives
    • Variable Frequency Drives (VFDs)
    • Servo Drives
    • Direct Torque Control (DTC) Drives
    • Vector Control Drives
    • Sensorless Control Drives

By Current Type:

  • Medium Voltage Drives
    • AC
    • DC
  • Low Voltage Drives
    • AC
    • DC

By Sales Channel:

  • Direct End-User
  • Direct Machine Builder
  • Direct Systems Integrator
  • Distribution/Partner

By End Use Industry:

  • Medium Voltage Drives
    • Oil and Gas
    • Mining and Metals
    • Power Generation
    • Chemicals and Petrochemicals
    • Water and Wastewater
    • Marine and Offshore
    • Others
  • Low Voltage Drives
    • Building and Construction
    • Manufacturing
    • Food and Beverage
    • Transportation
    • Agriculture
    • Pharmaceuticals
    • Commercial Facilities
    • Others

By Region:

  • Australia
    • New South Wales (NSW)
    • Victoria (VIC)
    • Queensland (QLD)
    • Western Australia
    • South Australia
    • Tasmania
    • Northern Territory
  • New Zealand

Author:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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
Website: https://www.futuremarketinsights.com
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Solar Panel Mounting Structures Market is expected to rise at a CAGR of 11.6% to US$ 45 billion in 2033

According to a recent survey published by FMI, the global Solar Panel Mounting Sturctures market is expected to grow at a healthy CAGR during the forecast period between 2023 and 2033. The objective of the report is to uncover micro and macro-economic factors accelerating the sales of Solar Panel Mounting Sturctures Market over the coming decade.

The study offers a detailed analysis of the market outlook including governing factors and examines the scope of market across various segments including (segment 1), (segment 2), and (segment 3). It also offers insights into vital dynamics and their impact on the market across 7 regions and more than 20 countries.

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Advent of Industry 4.0 Technology to Create New Growth Avenues for the Solar Panel Mounting Structures Market

Industrial sector is witnessing revolution as manufacturers across the world are extensively emphasizing towards adopting incorporating advanced automation, This is commonly being referred to as Industry 4.0.

With the emergence of industry 4.0, manufacturing facilities are emphasizing on adopting novel technologies such as artificial intelligence, smart manufacturing, internet of things (IoT), and machine learning among others. This is expected to create lucrative growth opportunities in the Solar Panel Mounting Structures Market.

Additionally, increasing government emphasis building a better manufacturing sector and integration of augmented and virtual reality using smart equipment to enhance the output is estimated to propel the demand in the market for coming years.

Key Solar Panel Mounting Structures Market Takeaways and Projections

  • The U.S. is estimated dominate the Solar Panel Mounting Structures market in North America, accounting for the largest share in the region through 2031.
  • Germany is projected to account for a significant share in the Europe market over the assessment period.
  • China is forecast to hold the lion’s share the East Asia market, projecting the fastest growth in the region between 2023 and 2033
  • India is anticipated to emerge as a highly remunerative market in South Asia, accounting for the largest sales during the forecast period.
  • In terms of (segment type), (Segment name) expected to contribute maximum sales in the market, expanding at a robust CAGR during the coming decade.

Report Benefits & Key Questions Answered

  • Solar Panel Mounting Structures Historical Market Outlook: Future Market Insight’s analysis examines vital dynamics, such as drivers, opportunities and challenges. It studies their impact on the market over the previous assessment period 2016 to 2020. The report provides crucial insights to market players to capitalize on opportunities and counter challenges.
  • Solar Panel Mounting Structures Demand-Supply Assessment: A latest study published by FMI offers in-depth insights into governing factors facilitating the demand outlook of the Solar Panel Mounting Structures As per the survey, Solar Panel Mounting Structures Market sales will project steady growth over the forecast period.
  • Solar Panel Mounting Structures Market Structure Analysis: The report provides detailed information about tier analysis and the market concentration of the key players in the Solar Panel Mounting Structures It also categories market players as per Tier 1, Tier 2, and Tier 3 and their market presence in terms of their market share and product portfolio.
  • Solar Panel Mounting Structures Consumption by Demographics: The report published by FMI provides consumption by demographics analysis to assist the market players in formulating their marketing strategies on the basis of purchasing power of the customers. It examines changes in consumer behavior and also studies its effect on the demand for Solar Panel Mounting Structures.
  • Solar Panel Mounting Structures Market Trend Analysis: FMI’s market trend analysis provide detailed insights into current and upcoming trends in the industrial automation industries. It also assist the industry players to identify potentials trends to capitalize on them.

Competitive Landscape Analysis

The latest study by FMI on the global Solar Panel Mounting Structures Market gives an exhaustive analysis on the development of existing as well as emerging market players. The detailed analysis on the competitive landscape gives the reader an unbiased view on the latest strategies adopted by leading Solar Panel Mounting Structures market players.

Major market participants in the global Solar panel mounting structures market identified across the value chain include:

  • Xiamen Fasten Solar Technology Co.,Ltd
  • Professional Solar Products
  • Ratan engineering Company
  • Hollaender Mfg. Co.
  • Mahindra Susten
  • Kern Solar Structures
  • Schletter Inc.
  • Esso Fab Tech Pvt Ltd
  • Mounting Solar-Kit Private Limited
  • Satec Envir Engineering Pvt. Ltd.
  • PROINSO
  • Nespro Renewable Energy Solutions

Solar Panel Mounting Structures: Market Segmentation

Product Type:

  • Roof Mounted Structure
    • Railed mounting
    • Rail-less mounting
    • Others
  • Ground Mounted Structure
    • Foundation mount
    • Ballasted footing mount
    • Others
  • Top-of-pole Mounted Structure
  • Side-of-pole Mounted Structure
  • Tracking System Mounted Structure

Material:

  • High Speed Steel
  • Cold Formed Steel
  • Aluminum
  • Galvanized Iron
  • Others

Thickness:

  • 0.5 to 2 mm
  • 2 to 3 mm
  • 3 to 6 mm
  • Others

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 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 All Reports: https://www.futuremarketinsights.com/reports

Staphylococcus aureus Testing Market Set to Reach USD 6.9 Billion by 2033 at a 5.3% of CAGR

Staphylococcus aureus Testing Market
Staphylococcus aureus Testing Market

The global Staphylococcus aureus testing market is on a steady growth trajectory, expected to surpass USD 6.9 billion by 2033. With a market revenue of USD 4.1 billion in 2023, the sector is thriving at a CAGR of 5.3% during the forecast period from 2023 to 2033.

A recent market survey highlights a concerning rise in infections caused by Staphylococcus aureus, which can lead to a variety of health complications including skin infections, bacteremia, soft tissue infections, and infective endocarditis. The increasing prevalence of these infections underscores the critical need for effective testing solutions.

Advancements in technology are further enhancing diagnostic procedures for Staphylococcus aureus, enabling quicker and more accurate identification of infections. The demand for testing is particularly high in cases of abscesses, furuncles, and cellulitis, driven by growing awareness around skin care and infection prevention.

Growing Advanced Technologies and Awareness Fuel the Global Staphylococcus Aureus Testing Industry

Several Factors Driving the Global Market Significantly to Acquire Huge Revenue. These are as follows:

  • Increasing Prevalence of Staphylococcus Aureus Infections: The rising bacterial diseases such as Staphylococcus aureus include bloodstream infections, pneumonia, skin infections, and surgical site infections. The growing number of these infections worldwide is increasing the adoption of staphylococcus aureus testing.
  • Rising Awareness and Concerns: Healthcare professionals and patients have growing awareness towards Staphylococcus aureus strains, including MRSA (Methicillin-resistant Staphylococcus Aureus). It helps to manage and identify antibiotic-resistant strains.
  • Increasing Healthcare-Associated Infections: The rising incidence of Healthcare-Associated Infections and increasing the demand for staphylococcus aureus testing for effective testing. It helps to prevent and control these diseases speedily in healthcare settings.
  • Advanced Diagnostic Technologies: The growing advanced technologies, such as nucleic acid amplification tests and immunoassays, are increasing the demand for staphylococcus aureus testing for accurate and reliable testing. Healthcare professionals who focus on treating patients are driving the global market.
  • Increasing Demand for Point-of-Care Testing: The growing patient treatment, rapid diagnosis, and immediate treatment decisions are increasing the adoption of point-of-care testing. It is widely adopted in various healthcare settings such as clinics, hospitals, emergency departments, and ambulatory care.
  • Growing Investments in Research and Development Activities: The huge rising investment in research and development activities to introduce new testing tactics driving the global market growth.

These factors are collectively upsurging the Global Staphylococcus Aureus Testing Industry during the forecast period.

Key Takeaways: 

  • The Staphylococcus aureus testing market is estimated to capture a valuation of US$ 6.9 billion with a CAGR of 5.3% by 2033.
  • In the historical period, the market secured a valuation of US$ 3.9 billion with a CAGR of 6.7% in 2022
  • North America is significantly driving the global market by capturing a share of 48.7% in the global market by 2033.
  • Europe is estimated to register a share of 33.4% in the global market during the forecast period.
  • The hospital sector is securing a maximum global market share by 2033.

How Key Players Are Adopting Strategic Innovations in the Global Staphylococcus Aureus Testing Industry?

The market is highly competitive by the prominent players that heavily invest in research and development activities. These players play a key role in developing improved, advanced, and innovative products globally. They focus on consumers’ requirements and offer them high-quality, customized products.

These players are adopting various marketing strategies to drive the global market to another level. These marketing tactics are mergers, acquisitions, collaborations, partnerships, agreements, and product launches. Key players promote their brands on several platforms, such as online retailers, seminars, exhibitions, trade shows, and online marketing.

Recent Developments in the Global Staphylococcus Aureus Testing Industry are:

Roche Diagnostics announced its newly launched product molecular diagnostic solution for Staphylococcus aureus testing. The company offers customized molecular diagnostic solutions with its specialized team to enhance its business portfolio.

Global Staphylococcus Aureus Testing Industry Key Companies Profiled

  1. Abbott Laboratories Inc
  2. Siemens Healthcare GmbH
  3. Bio Rad Laboratories Inc
  4. Thermo Fisher Scientific Inc
  5. Roche Diagnostics (H. Hoffman-La Roche Ltd.)
  6. STD Rapid Test Kits     

A Full Report Overview

Global Staphylococcus Aureus Testing Industry by Category

By Test Type:

  • Coagulase Test
  • Ancillary Tests
  • Agar-Based Tests
  • Nucleic Acid Amplification Tests

By Application:

  • Pharmaceutical
  • Clinical
  • Food Testing
  • Other

By End User:

  • Hospitals
  • Diagnostic Clinics
  • Food Testing laboratories
  • Others

By Region:

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

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:      

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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FMI Report Projects Global Low Voltage Cable Market Valuation to Project USD 255 Billion Mark by 2033, Growing Steadily at 5.8% CAGR

The global low voltage cable market has witnessed remarkable growth, achieving a substantial valuation of USD 135.3 billion in 2022. This upward trajectory is set to continue, with an anticipated value of USD 144.5 billion by the end of 2023, showcasing robust year-over-year expansion. Looking ahead, the market is forecasted to experience a significant Compound Annual Growth Rate (CAGR) of 5.8% for low voltage cable sales, culminating in a remarkable revenue milestone of USD 255.0 billion by 2033, indicating sustained and substantial growth.

A pivotal driver behind this expansion is the consistent demand within the residential sector. The increasing need for electricity in households, alongside the growing prevalence of smart homes, serves as a significant catalyst propelling this demand. The latest market analysis underscores the poised growth of the residential segment, projecting a CAGR of 5.4% through 2033, reaffirming the indispensable role of low voltage cables in shaping the contemporary residential landscape.

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Rising energy demand from residential and industrial sectors is expected to boost the global low voltage cable market. These cables often transmit electricity from power plants and other sources to end users.

Renewable energy sources like wind and solar power are becoming popular due to their benefits and declining costs. This is expected to uplift demand for low voltage cable as they are essential for integrating renewable energy into the power grid.

Rapid infrastructural development is anticipated to bolster low voltage cable sales. Governments worldwide are investing heavily in infrastructure development projects. These projects require low voltage cable for power supply and communication.

Surging popularity of smart buildings and adoption of automation & control systems are another key factors expected to foster the low voltage cable market growth. Low-voltage cables are widely used for power distribution, lighting control, data transmission, and other applications.

Leading low voltage cable manufacturers focus on producing novel solutions from eco-friendly materials to reduce the carbon footprint. This will positively impact the overall performance of the worldwide low voltage cable industry.

Key Takeaways from the Low Voltage Cable Market Report:

  • The global low voltage cable industry is forecast to reach USD 255.0 billion by 2033.
  • Based on installation type, overhead segment is set to thrive at 5.6% CAGR through 2033.
  • By end use, residential segment is anticipated to expand at a CAGR of 5.4%.
  • The United States market revenue is expected to total USD 46.3 billion by 2033.
  • Sales revenue in China is forecast to total USD 37.2 billion by 2033.
  • Demand in Japan is projected to increase at 6.0% CAGR between 2023 and 2033.
  • The United Kingdom market is set to thrive at a CAGR of 6.2% through 2033.
  • Korea is predicted to witness a CAGR of 5.5% over the forecast period.

“The exponential growth of residential and industrial sectors due to increasing population and economic growth is expected to create demand for low voltage cable during the forecast period. Key players are concentrating on developing more efficient and reliable low voltage cable to boost their revenues”, – opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).

Who is Winning?

ABB Group, Encore Wire Corporation, Finolex Cables Ltd., General Cable Corporation, Nexans SA, NKT Cables Group GmbH, Polycab Wires Pvt. Ltd, Prysmian Group, Sumitomo Electric Industries Ltd., and Finolex are leading low voltage cable manufacturers listed in the report.

To gain maximum profits and expand their customer base, key companies are implementing several strategies. These include new product launches, facility expansions, partnerships, mergers, acquisitions, and collaborations.

Recent Developments in the Low Voltage Cable Industry:

  • In May 2023, a new range of low-carbon distribution grid cables was launched by Nexans in the French market.
  • In December 2022, new low-voltage power cables using low-carbon materials were developed by NXT.

Low Voltage Cable Industry Segmentation Analysis:

By Installation Type:

  • Overhead
  • Underground

By End Use:

  • Residential
  • Commercial
  • Industrial

By Region:

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

Browse Related Reports:

The global compact construction equipment market is expected to register a CAGR of 3.8% from 2023 to 2033.

The global compact power equipment rental market is projected to surpass USD 206,557.9 million by the end of 2033.

The power device analyzer market is estimated to showcase a modest CAGR of 5.2% from 2023 to 2033.

Author:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

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
Website: https://www.futuremarketinsights.com
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FMI Analysis States Global Industrial Counter Market Size Expected to Drive Past USD 1,560 Million by 2033, Driving Steady Growth of 4.1% CAGR

The global industrial counter market is forecasted to reach an impressive valuation of USD 1560.0 million by the year 2033, fueled by a steady Compound Annual Growth Rate (CAGR) of 4.1% from 2023 onwards. With an estimated worth of approximately USD 1042.4 million in 2023, this market segment demonstrates a consistent trajectory of expansion, underpinned by its essential role in diverse industrial applications.

Industrial counters play a pivotal role in numerous industrial processes, serving as integral components for counting and measuring various parameters critical for automation, control, and precision. Despite their discreet nature, these counters emerge as indispensable tools in the industrial landscape, ensuring accuracy and efficiency across a wide spectrum of operations. Their significant contribution enhances overall productivity and quality in industrial processes, making them essential assets for modern manufacturing, production, and process control endeavours.

Browse Full Report Here

The Industrial counter is being progressively integrated into automation systems, which is vital in industrial automation. Industrial Internet of Things (IIoT) integration enables real-time data monitoring. High precision and precise control are key to sales in the pharmaceutical and healthcare sectors.

With the growing demand for safe, high-quality goods, quality control and assurance are increasingly emphasized. Rising emphasis on precision control in the healthcare sector is a critical growth aspect for the industrial counter industry. The application of airborne particle counters is growing in the ecological monitoring of pharmaceutical, biopharmaceutical, and radiopharmaceutical facilities.

The emergence of the smart industrial counter is a key trend in the target market. Due to their ease of reading, convenience, ease of installation, and low maintenance requirements, light-emitting diode counters are becoming popular in the industrial counter market. Some suppliers offer services such as diverse colors and visual variations for LED displays, counters that can maintain count values ​​even during a power failure and counters that display several values.

Key Takeaways from the Industrial Counter Market Report:

  • The United States industrial counter industry is projected to reach USD 283.5 Million in the forecast period.
  • The United Kingdom industrial counter industry is set to be valued at USD 57.1 Million by 2033.
  • China’s industrial counter industry is likely to total USD 242.9 Million by 2033.
  • Japan industrial counter industry is estimated to register USD 178.1 Million by 2033.
  • Based on end-use, the food and beverages segment is set to witness a CAGR of 3.8% from 2023 to 2033.

“Industrial counter is an integral part of the food and beverage business, where they are used to count a variety of products such as semi-finished products, raw materials, finished products, and packaging materials. The food sector is categorized by a significant sum of material handling for which appropriate measurement is necessary. This requires industrial counter that can accurately amount product quantities.” – Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).

Competitive Landscape:

Leading companies in the industrial counter industry are introducing new and innovative goods to meet the growing demand. Worldwide companies are inflowing new markets in developing regions to expand their customer base and increase their presence. Suppliers and manufacturers likewise adopt several strategies, including joint ventures, acquisitions, mergers, new product development, and geographic expansion.

For instance,

  • 2019 Spectris acquired Red Lion Controls, a networking solutions and industrial automation benefactor.
  • In 2018, Azbil Corporation acquired LUM Technologies, a German provider of non-invasive online analysis tools.
  • In 2021, Honeywell acquired Sparta Systems, a provider of cloud-based software solutions for life sciences.
  • In 2019, TASI Group acquired ONICON Measurement Solutions, which delivers energy and flow measurement systems.

Key Companies Profiled in Industrial Counter Market Report:

  • Eaton Corporation PLC
  • Fargo Controls, Inc.
  • Hengstler GmbH
  • Littelfuse, Inc.

Industrial Counter Market Segmentation Analysis:

By Type:

  • Preset Counters
  • Electromagnetic Counters
  • Time Counters
  • Totalizing Counters
  • Mechanical Counters
  • Digital Counters

By End-use:

  • Food & Beverage
  • Healthcare
  • Semiconductor & Electronics
  • Industrial Manufacturing

By Regions:

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

Browse Related Reports:

The global industrial weighing equipment market share is forecasted to cross USD 8,242.7 million by 2033.

The global geiger counters industry is projected to exceed USD 157.4 million milestone in 2033.

The global photon counters market size is anticipated to drive past USD 204.4 million by 2033.

Author:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

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
Website: https://www.futuremarketinsights.com
LinkedInTwitterBlogs | YouTube

Global Hemostasis Products Market Expected to Grow to USD 2.65 Billion by 2033 at a 5.3% of CAGR

Global Hemostasis Products Market
Global Hemostasis Products Market

The global hemostasis products market is poised for substantial growth, with an estimated valuation of USD 1.58 billion in 2023 and projected to exceed USD 2.65 billion by 2033. This growth reflects a CAGR of 5.3% during the forecast period, driven by an increasing demand for effective hemostatic solutions in surgical and medical treatments.

Hemostasis, the process of stopping bleeding, is crucial in various medical scenarios. When the body is unable to achieve hemostasis naturally—particularly during surgery or in response to trauma—medical interventions are necessary. Hemostasis can be challenging when patients experience shock or stress. As a result, healthcare providers increasingly rely on a range of chemical and mechanical agents to effectively control bleeding and ensure patient safety.

The rising incidence of surgical procedures, coupled with advancements in hemostatic products, is expected to further propel the market. Medical professionals are continually seeking innovative solutions to enhance patient outcomes, making the development of advanced hemostatic agents a key focus area for industry players.

The rapidly growing medical tourism sector coupled with the high investment made by governments of various countries towards the growth of the healthcare sector will provide lucrative opportunities for the growth of the marketThe high expenses related to hemostasis products stringent regulatory policies and the use of off-label products are projected to restrain the market’s growth over the forecast period.

The topical hemostasis product segment is likely to offer remunerative opportunities for the Global Hemostasis Products Industry. Several emerging economies are making significant developments in their technological sector, thereby, providing lucrative opportunities to players in the market.

Hemostasis Products Market Key Takeaways:

  • The Global Hemostasis Products Industry is estimated at USD 1,501 Million in 2021
  • By product, the topical hemostat segment accounts for a market share of 68.5% in 2021
  • By application, the myocardial infarction segment accounts for the highest market share of 19.5% during the forecasting period.
  • Market in the U.S. to procure a market share of 29.5% during the assessment period.

“The increasing number of trauma and surgical cases, technological advancements in the fields of hemostasis products, and an increase in the prevalence of blood disorders are expected to fuel the demand for Global Hemostasis Products Industry over the forecast period” says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)

Hemostasis Products Market Competitive Landscape

  • Medtronic
  • Johnson & Johnson
  • Baxter International
  • Pfizer Inc.
  • Becton Dickinson and Company (BD)
  • B. Braun Melsungen AG
  • Tricol Biomedical
  • Hemostasis LL
  • Teleflex Incorporated
  • CuraMedical BV

Recent updates from the industry are:

  • In July 2021- Baxter International Inc. announced its Baxter Healthcare Corporation subsidiary has completed the acquisition of certain assets related to PerClotPolysaccharide Hemostatic System from CryoLife, Inc. The transaction reinforces Baxter’s strategy of acquiring products and technologies that both complement and augment the company’s leading portfolio across the hospital, including in the operating room. PerClot has a global commercial presence with sales in more than 35 countries worldwide.
  • Hemostasis is committed to producing high-quality medical devices that are safe and effective for their intended use. Hemostasis introduced. BoneSeal bone hemostat is a new-generation, absorbable solution providing immediate and long-term hemostasis without immediately dissolving. BoneSeal hemostat works quickly and delivers better results for you and your patients.

A Full Report Overview

Key Segments Covered in the Global Hemostasis Products Industry Analysis

Hemostasis Products Market by Product:

  • Topical Hemostasis Products
    • Gelatin
    • Polysaccharides
    • Oxidized Regenerated Cellulose
    • Collagen
  • Infusible Hemostasis Products
    • Platelet Concentrate from Donor Blood
    • Fresh Frozen Plasma (FFP)
    • Factor VIII
    • Prothrombin
  • Advanced Hemostasis Products
    • Flowable
    • Thrombin
    • Synthetic Sealants
    • Fibrin

Hemostasis Products Market by Application:

  • Hemostasis Products for Trauma
  • Hemostasis Products for Surgery
  • Hemostasis Products for Hemophilia
  • Hemostasis Products for Myocardial Infarction
  • Hemostasis Products for Others

Hemostasis Products Market by End Use:

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Network Security Firewalls Market Anticipated to Expand at 15% CAGR, Reaching US$ 19677 Million by 2032

The network security firewalls market is projected to be worth US$ 19677 million, up from US$ 4882 million in 2022, growing at a CAGR of 15%.

The growing use of web applications and the increasing demand for advanced security services to mitigate the risk of cyber-attacks are factors that are fueling the growth of the Network Security Firewalls market. 

Due to the growing momentum of interconnected devices, the risk of security is increased and to protect the data and information from security breaches and cyber-attacks the adoption of network security firewalls is increasing in various enterprises and this ultimately drives the growth of network security firewalls. Also, the adoption of network security firewalls for cloud technology is fueling the growth of the network security firewalls market. 

Nowadays, most medium and large-scale organization has a presence on the Internet and has an organizational network connected to it. Therefore, network security firewalls are used to maintain network security between the outside internet and the internal network to protect the business against fraud and data breaches. 

Also, network security firewalls help enterprises secure communication pathways from unauthorized access and data misuse, and due to this the network security firewalls market is growing at a rapid pace. 

Network Security Firewalls Market: Drivers and Restraints:

Drivers:
The advancement in security management services is the primary growth factor that is driving the growth of the Network Security Firewalls market. Also, the increasing number of mobile threat issues in enterprises is supporting the rapid adoption of the network security firewalls market. Moreover, to handle the serious and highly variable risk associated with an exposed security posture, the need for Network Security Firewalls is increasing rapidly. 

Apart from this, the increasing adoption of network security firewalls by various enterprises to protect their data and information from cyber-attacks is also driving the growth of the network security firewall market. 

Restraints:
The key challenge in the network security firewall market is the vulnerability to cyber-attacks. Also, device and system compatibility is a major challenge that may hamper the growth of the Network Security Firewalls market. Moreover, the lack of preventive firewall maintenance among telecom organizations is also one of the factors that may hamper the growth of the network security firewalls market. 

Leading Key Players:
The prominent players in the Network Security Firewalls market include SAP SE, Hewlett Packard Enterprise, Cellusys, Symsoft, Openmind Networks, Tata Communications, ANAM Technologies, AMD Telecom, Adaptive Mobile, Infobip, and others

Network Security Firewalls Market: Regional Overview 

On a geographic basis, North America is anticipated to capture the largest and fastest growing network security firewalls market in terms of revenue, owing to rapid advancement in mobile security technologies and the presence of various key players in the region. 

APAC and MEA are also anticipated to witness high growth rates in the Network Security Firewalls Market over the next coming years due to the increasing number of smartphones and rapid adoption of Network Security Firewalls in various enterprises in the region. 

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

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Regional analysis includes 

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

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

Network Security Firewalls Market Segmentation:

By Type:

  • Stateful Packet Inspection
  • Next-Generation Firewall
  • Packet Filtering
  • Unified Threat Management

By Solution:

  • Signalling Firewall
  • SMS Firewall

By Services:

  • Professional Services
  • Managed Services

By Deployment:

  • On-premises
  • Cloud
  • Virtualization

By Region:

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

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About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Railway Fishplate Market Expected to Reach USD 5.89 Billion by 2028, Growing at a Steady CAGR of 3.4% | FMI Reports

Railway Fishplate Market
Railway Fishplate Market

The railway fishplate market is projected to reach USD 5.89 billion by 2028, with a steady compound annual growth rate (CAGR) of 3.4%. This growth underscores the increasing demand for reliable rail infrastructure. Fishplates play a crucial role in connecting rails and ensuring the stability and safety of railway tracks, making them increasingly vital as global transportation networks expand and modernize.

The demand for insulated rail joints is particularly driven by the rise of high-speed rail systems and advanced railway signaling technologies. These joints are essential for detecting trains within track circuits, reducing noise, enhancing passenger comfort, and performing effectively in diverse climatic conditions. To improve safety and prevent accidents, operators are prioritizing the enhancement and maintenance of railroads and their components. Moreover, the growing number of passengers is fueling the need for dependable transportation solutions, with heavy rail emerging as a preferred option for long-distance travel.

Despite this positive outlook, the market faces challenges, including low transverse resistance and susceptibility to chemical attacks, which could impede growth. Additionally, the higher costs associated with advanced fishplates, especially those designed for heavy rail applications, may restrain market expansion in the near term.

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Key Takeaways from the Railway Fishplate Market Report:

  • North America and Europe are at the matured stage of railway fishplate market. This could be credited to growing popularity on the part of high speed rails, growing utilization of trams for the local transport, and higher prevalence of the high railway track network density in the US and Canada. The UK prefers railway as a feasible mode of transport. Several investments and efforts are being made by private companies and governments for improving connectivity across every corner of the UK. The Rail Industry Finance (UK) report states that overall rail expenditure in 2019-20 witnessed a 4% increase as compared to the previous year. On the other hand, the US freight rail network does continue to stay the largest and most cost-efficient system all across (140,000 route miles).
  • The Asia-Pacific is expected to grow at a speedy pace in the railway fishplate market in the forecast period due to improvement in transportation infrastructure coupled with ascertaining high-end safety to consumers through the ongoing railway projects. India is known to be the 4th largest railway system around the world. The IBEF states that Indian Railways did have nearly 13,169 passenger trains with 8,479 freight trains in the year 2019-20. Plus, in 2021-22, The Railway Ministry did identify 56 projects in several railway zones to be completed within a short time-span.

Competitive Landscape:

  • AGICO, since August 2018, started supplying 460 sets of fish bolts and railway fishplates to a railway project based out of Malaysia.
  • Henry Williams has its fishplates produced by making use of forging process that does maximize the raw materials’ inherent strength by maintenance of grain flow through metal. Emergency clamped joggled fishplates do facilitate proper functioning of trains by catering to fractured or welded rail section on an emergency basis.

Leading Key Players:

The railway fishplate market is dominated by leading key players such as Koppers Holdings, Inc., L.B. Foster Company, and Unipart Rail Limited, who are known for their high-quality and durable products. Other significant contributors include Royal Infraconstru Limited, Taicang Zhongbo Railway Fastening Co. Ltd., and Henry Williams Limited, which are renowned for their innovative solutions. Companies like N. Mohanlal Railtrack Pvt. Ltd., Linzhou Changda Railway Materials Co. Ltd., and Anyang General International Co., Ltd. (AGICO) also play crucial roles in this market. Bhaskar Industrial Developments Ltd, Monteferro of America, Jekay International Track Pvt Ltd, Surya Alloy Industries Ltd., and Techma Engineering Enterprises Pvt. Ltd. further bolster the competitive landscape with their extensive product ranges and global reach.

What does the Report fix?

  • The research study is based on rail joint type (common rail joint, compromise rail joint, insulated rail joint, and joggled fish plate), and by rail type (heavy rail and light rail).
  • With realization of the fact that railway fishplates make way for superlative thermal stability, insulation, and resistance against corrosion, the global railway fishplate market is likely to grow inadvertently in the near future.

Railway Fishplate Market Segmentation:

By Rail Joint Type:

  • Common Rail Joint
  • Compromise Rail Joint
  • Insulated Rail Joint
  • Joggled Fish Plate

By Rail Type:

  • Heavy Rail
  • Light Rail

By Region:

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Automotive Remote Diagnostic Market Projected to Reach USD 108.16 Billion by 2034, with a CAGR of 17.40% | FMI Reports

Automotive Remote Diagnostic Market
Automotive Remote Diagnostic Market

By 2034, the global automotive remote diagnostic market is projected to reach USD 108.16 billion, with a remarkable compound annual growth rate (CAGR) of 17.40%. In 2024, the market size is anticipated to be USD 21.75 billion.

Several key factors are driving the growth of the automotive remote diagnostics market. Automakers are increasingly focused on minimizing maintenance costs and downtime, while the integration of IoT technologies and the development of connected car ecosystems are also significant contributors.

Automotive remote diagnostic solutions are gaining popularity among both manufacturers and vehicle owners due to their numerous advantages. These solutions help reduce maintenance and service downtime, facilitate early issue identification, and provide efficient, targeted solutions. This effectiveness is fueling rising demand for remote diagnostics.

Additionally, these systems empower vehicle owners to detect potential problems, defects, and shortcomings ahead of time, leading to lower maintenance costs and time savings. This functionality is expected to further accelerate market growth.

The shift toward vehicle electrification is also influencing the expansion of the automotive remote diagnostics market. As connected car ecosystems and the prevalence of IoT devices continue to grow within the automotive sector, the market is well-positioned for continued growth in the coming years.

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Automotive Remote Diagnostics Equipment to Account for Leading Market Shares

While equipment and software both form integral parts of an automotive remote diagnostics, the study finds that equipment will continue to account for leading shares of the market, owing to associated periodical replacement and maintenance activities. On the other hand, software are installed in the equipment as first fit, and are renewed on the basis of subscriptions. This further alludes high-growth potential of software solutions in the automotive remote diagnostics market.

Automotive remote diagnostics market will continue to witness robust gains from the light commercial vehicles, compared to other vehicle categories. As the logistics and transportation sector gains increased traction, vis-à-vis growth of the ecommerce and warehousing industry, light commercial vehicles are expected to record relatively greater sales compared to their past statistics. This will create significant opportunities for players in the automotive remote diagnostics market.

Automotive remote diagnostics are expected to witness high demand in vehicle system & component access, and health tracking & diagnosis applications. These application requirements are comparatively higher in commercial vehicles, and with the rise in construction and infrastructure development activities, demand for the commercial vehicles, and in turn the automotive remote diagnostics will also rev up in the near future.

Europe to Remain Most Attractive Market for Automotive Remote Diagnostics

The study finds that Europe will continue to be the most lucrative market for automotive remote diagnostics, trailed by North America. The economic vigor and robust infrastructure development activities in the region allude at significant sales of commercial vehicles, along with passenger cars, which in turn continue to drive demand for advanced solutions such as the automotive remote diagnostics. According to the study, East Asia will also remain an attractive market for automotive remote diagnostics, with sales projected to grow at a CAGR of over 20% through 2028.

The automotive remote diagnostics market continues to remain consolidated, with leading players accounting for bulk shares of the market. Additionally, the complexity and extensive R&D investments required to provide a total solution continue to present significant entry barriers to new market entrants, which further underpins the supremacy of leading players in the automotive remote diagnostics market.

Key players operating in the automotive remote diagnostics market include Robert Bosch GmbH, Tech Mahindra Limited, Continental AG, OnStar LLC, Vector Informatik GmbH, Transics, Verizon, ACTIA Group, Softing AG, Magneti Marelli S.p.A., IBM, and Harman International, among others.

Key Segmentations

By Product Type

  • Equipment
  • Software

By Vehicle Type

  • Passenger Cars
  • Compact
  • Mid-Sized
  • Luxury
  • SUVS
  • Light Commercial Vehicles (LCVs)
  • Heavy Commercial Vehicles (HCVs)

By Application

  • Vehicle System & Component Access
  • Vehicle Health Tracking & Diagnosis
  • Service Assistance

By Region

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Future Market Insights Inc.
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Transportation Condensing Units Market Expected to Reach USD 4.87 Billion by 2032, Growing at a CAGR of 5.7% | FMI Reports

Transportation Condensing Units Market
Transportation Condensing Units Market

In 2022, the global market for transportation condensing units is projected to reach USD 2.8 billion, with expectations to grow to USD 4.87 billion by 2032, reflecting a strong annual growth rate of 5.7%.

Developed regions currently dominate the market, accounting for over 70% of total sales. Europe and North America are established markets for transportation condensing units, where trailers are the primary vehicles utilizing these systems. Together, these regions represent a significant share of the global market.

In contrast, the modernization of stores, pack houses, and ripening facilities in Latin America and ASEAN countries is anticipated to create lucrative opportunities for growth in the transportation condensing units market. Notably, considerable market expansion is expected in the East Asia-South Asia-Oceania cluster in the coming years.

China has emerged as a key player in the manufacturing of transportation condensing units, contributing significantly to the market, particularly in relation to agricultural and animal products, valued at over USD 300 billion annually. The ongoing inadequacy of chilling facilities in the region presents new opportunities for infrastructural development, further bolstering the demand for transportation condensing units.

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More than 200 thousand units of transportation condensing units were sold in the year 2018, according to the findings of a new research report of Future Market Insights (FMI). The report further projects that the unit sales of transportation condensing units will witness a promising just-under 5% yearly growth in 2019.

  1. Global transportation condensing units market size in 2018 – Nearly US$ 2.3 Bn
  2. The transportation condensing units market is likely to thrive at an estimated 5.6% CAGR over 2018-2028.

The demand for transportation condensing units is highly likely to be influenced by rapid industrial developments in the cold chain space, evolving federal policies, and sprawling urbanization that continues to drive demand for transportation of a range of commodities via cold storage chain.

While over 45% of the total sales is accounted by medium-to-high capacity i.e. 10-15 KW transportation condensing units, it is highly likely that the high-capacity i.e. above 15 KW transportation condensing units that currently hold just-under a fourth of the total market volume, will gather momentum in coming years. The report has attributed this growth to increasing demand for large-scale application areas.

According to the report, single-temperature, single-compartment refrigerated trailers/trucks or multi-temperature, and multi-compartment refrigerated trailers/trucks are the most prominent users of transportation condensing units.

Competition Landscape of transportation Condensing Units is Consolidated and Turning Highly Dynamic

Transportation condensing units or transportation refrigeration units are offered with a robust portfolio of products and services, designed to help manage and monitor the cold chain of the most temperature-sensitive, perishable products, including food, pharmaceuticals, biologics and bioengineered drugs, and vaccines, in addition to some industrial chemical classes. Increasing installation of transportation condensing units for short- and long-haul applications on private and commercial carriers will continue to supplement the revenue of transportation condensing units market.

The competition landscape of the global transportation condensing units is highly consolidated, with the top two accounting for nearly 90% of the total revenue generated. Strategic efforts of a majority of leading players are most likely to remain concentrated in engineering improved designs of transportation condensing units, planning stronger product launches, and maintaining a high sustainability quotient. Constant efforts are expected to emerge in the introduction of innovative materials and technologies to extend product life cycles.

Key market players are also focused on enhancing their production capabilities, for better geographic reach. Importantly, strong distribution network, powerful customer management, and unique product and service portfolios are likely to remain the key developmental strategies of leading players competing in the global transportation condensing units market landscape. Moreover, companies will focus on the expansion in international markets by the assessment of demand patterns in various regional markets.

Prominent players in transportation condensing units market will also strategize on strengthening relationships with distribution partners and local market operators, as well as others across the supply and distribution network. Looking at the swift expansion of retail space, several companies are also investing in establishing tie-ups with a variety of retail channels. Some of the leading companies are also augmenting investments in the development of next-generation hybrid-electric transportation condensing units, according to FMI’s analysis.

Some of the key companies that have been covered in the global transportation condensing units market report, include Carrier Transicold, Thermo King, Guangzhou Snowfall Refrigeration Equipment Co., Kingtec, Zanotti, and Electric Reefer Solutions.

Transportation Condensing Units Market Structure Analysis

  • The global transportation condensing units market is a consolidated competition landscape, wherein, tier 1 companies hold more than 82% revenue share.
  • While most prominent players maintain strategic focus on the North American and European markets, FMI’s report states that new technology assessment and environment-friendly products will be an important developmental strategy for companies.
  • Leading players in the transportation condensing units market are also concentrating on the ASEAN, Indian, and Chinese markets where cost competitiveness will remain a strong differentiation strategy.

Key Segmentations

By Cooling Capacity

  • Below 5 KW
  • 5 – 10 KW
  • 10 – 15 KW
  • 5.3.4. Above 15 KW

By Compressor Type

  • Reciprocating
  • Rotary
  • Scroll

By Sales Channel

  • OEM
  • Aftermarket

By Vehicle Type

  • Trucks
  • Trailers

By Region

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:      

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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