Japan Account For 3% Of Global Transformer Monitoring System Market Share By End Of 2031 | Future Market Insights Inc.

It is predicted that sales revenue will reach US$ 2 billion in 2021 with an astronomical CAGR of 10.1%. The transformer monitoring system market exhibited year-on-year growth of 10.9% in 2021, backed by increasing adoption of green transformers leading to up-gradation of associated monitoring system and growing emphasis on improving reliability of power grid. FMI states that, transformer monitoring system market revenue grew by 8.5% between 2016 and 2020.

Recent years have seen an increase in electricity consumption due to rapid urbanisation and increased industrial activity. As the world moves toward smart grids for more efficient power distribution, the demand for transformer monitoring systems is expected to rise over the forecast period. According to FMI, revenue from transformer monitoring systems will increase at a CAGR of 10.1 percent between 2021 and 2031.

The transformer monitoring system is a process-oriented system that measures quantities such as voltage and current, estimates measurement data using an algorithm, generates trends, and monitors models. During the assessment period, the introduction of internet of things (IoT)-based smart transformer technologies will boost market growth.

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Green transformers are gaining popularity due to its low carbon footprint and high efficiency and reliability. To monitor these new transformers retrofit installations are required. Increasing renewable energy penetration and rising sales of green transformers will accelerate the demand for retrofit transformer monitoring system in upcoming years.

According to International Energy Agency, global electricity consumption reached 22,848 TWh in 2019. China, India, Russia, and Brazil account for more than 39% of global consumption. Rise in electricity consumption in developing countries will boost the market sales over the forecast period.

Top manufacturers are striving to reduce the installation cost of the monitoring system and make them more reliable and accurate. However, unpredictability in terms of regulatory policies and strained supply chain system are the key challenges influencing the global market for transformer monitoring systems.

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Key Takeaways from FMI’s Transformer monitoring system Market Study

  • North America transformer monitoring system market will exhibit stupendous growth at 10.6% CAGR through 2031, due to rapid industrialization, growing necessity to upgrade monitoring system with respect to transformers in U.S. and Canada.
  • Europe transformer monitoring system market led by Germany is forecast to grow at 7.6% CAGR during the forecast period. Rise in growth can be attributed to rising adoption of green transformers and presence of leading manufacturers in the region.
  • Incorporation of modern monitoring system to tackle power outage and related issues in urban area will drive the demand for transformer monitoring systems in India.
  • Japan and South Korea account for 3% of global transformer monitoring system market share in 2021. Increasing need to monitor large and complex power network and high demand of retrofits installation are key growth drivers in these countries.
  • By product type, software segment is projected to surpass the market valuation of US$ 277 at a CAGR of 10.3% in 2021. Advancement in big data analytics and introduction of internet of things (IoT) in monitoring system will drive the market growth of this segment.

“It will be interesting to see how modernization in electricity transmission system will influence the demand for transformer monitoring system during the forecast period. Rising necessity to upgrade monitoring system to comply with green transformers will boost the market growth in upcoming years,” says the FMI analyst.

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Who is Winning?

Future Market Insights highlights the key trends emerging in the transformer monitoring system market and discusses the strategies employed by market players to strengthen their market position.

FMI estimated that the power transformer market is dominated by ABB, General Electric, Siemens AG, Maschinenfabrik Reinhausen GmbH, and Groupe Cahors S.A. Out of these top market players ABB holds around 14% of global market share, General Electric holds 10%, Siemens AG holds 12%, Maschinenfabrik Reinhausen GmbH holds 8%, and Groupe Cahors holds 5% of global market share, says FMI.

They are focusing on new product development to reduce the carbon footprint and are also emphasizing on expanding in overseas territories for business development.

  • For instance, ABB introduced its new model based monitoring system in April 2019. This system was used in combination with standard substation equipment and was presented in MicroSCADA Pro. This allows easy performance evaluation while in service and can detect imminent faults.
  • H2scan launched the “Gen 5 System” designed to reduce the risk of explosion in high voltage transformer. The new system is said to be compatible with wide range of transformers.
  • Hitachi ABB Power Grids recently introduced Txpert™ bushing monitoring and diagnostic system which enables real time monitoring for power transformers. The new system combines voltage reference and sum of current capabilities of Coretec™ 4, TXpert™ Hub with TXpert™ ready bushing sensors to deliver real time solution for digital bushing monitoring and enable smarter decisions based on obtained data.

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Prominent players operating in the transformer monitoring system market are:-

  • ABB Group
  • Siemens AG
  • General Electric
  • Mitsubishi Electric Power Products Inc.
  • Eaton Corporation
  • Hitachi Ltd.
  • Qualitrol Company LLC
  • Koncar-Electrical Engineering Institute Inc.
  • Maschinenfabrik Reinhausen GmbH (MR)
  • CETT Co., Ltd.
  • Groupe Cahors
  • Camlin Power
  • MTE Meter Test Equipment AG
  • Advanced Power Technologies LLC

More Insights on the Transformer monitoring system Market

In its latest report, FMI offers an unbiased analysis of the global transformer monitoring system market, providing historical data for the period of 2017-2027 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of by product type (hardware and software monitoring system), by application type (dissolved gas analysis, partial discharge, bushing monitoring, cooling control, and voltage regulation system), by installation type (newly installed units and retrofit units), by end use (power transformers, distribution transformers, and other transformers), and by region (North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and Middle East & Africa)

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Transformer Monitoring System Market Key Segments

By Product:

  • Hardware
    • Direct Winding Transformer Monitors
    • Intelligent Transformer Monitors
  • Software

By Installation Type:

  • Newly Installed Units
  • Retrofit Units

By Application:

  • Dissolved Gas Analysis (DGA)
  • Partial Discharge (PD)
  • Bushing Monitoring
  • Cooling Control
  • Voltage Regulation

By End Use:

  • Power Transformers
  • Distribution Transformers
  • Other Transformers

By Region:

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

About Us:

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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Aircraft Ground Support Equipment Market Exhibiting Demand At A CAGR Of 6.5%: Future Market Insights Inc

According to Future Market Insights’ (FMI’s) most recent analysis, the market for aircraft ground support equipment will grow at a 6.5 percent CAGR between 2021 and 2031. By the end of 2021, the market is expected to be worth US$ 9.7 billion.

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

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

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

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

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

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

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Competitive Landscape

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

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

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

About Us

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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Fire Extinguishers In India Market Is Estimated To Rise At A CAGR Of 7.4% During The Forecast Period

As per a Future Market Insights’ (FMI) analysis, the fire extinguisher market is projected to be valued at over ~US$ 3.6 Bn in 2021, expanding at a CAGR of ~5.7% over the forecast period of 2021-2031.

Increased industrial and commercial sector applications of fire extinguishers, along with the implementation of stringent regulations and building codes, are expected to drive demand over the forecast period.

The ongoing COVID-19 pandemic crisis, on the other hand, has had a significant impact on the global economy. As a result, supply chain networks and manufacturing operations have been completely shut down. This has also harmed the overall operations of the fire extinguisher market.

The market is however expected to witness lucrative opportunities during the forecast period owing to increasing demand from commercial and industrial sectors. New unit sales and replacement/retrofit jobs will contribute to growth.

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Increasing regulations for building design codes in the residential sector will also generate gains in the coming decade. Moreover, manufacturers are investing in R&D activities to offer innovative and technologically advanced product offerings. These factors are expected to positively influence the growth in demand for fire extinguishers during the forecast period.

Key Takeaways of the Fire Extinguisher Market Study

  • Carbon dioxide extinguishers will account for the leading market share of over 30%, on the back of easy access to raw materials and efficacy in fire control.
  • Dry chemical fire extinguishers are increasingly adopted, due to their superior efficiency in draught-free conditions.
  • Germany will emerge as a key market for fire extinguishers on the back of the implementation of stringent codes for ensuring better safety in buildings.
  • The U.S. dominates the North American market, accounting for over 80% of sales in the region.
  • China will lead the East Asia market, exhibiting a growth rate of over 6.5% CAGR through the assessment period.

 “With the ever-evolving requirements of the global construction industry, demand for fire safety equipment has grown rapidly. Fire extinguishers in particular, have been at the center of these developments in terms of economically feasible solutions. Innovative product offerings have been important for manufacturers to gain competitive benefits,” says an analyst of Future Market Insights.

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Competitive Landscape

The fire extinguisher market is highly fragmented. The penetration of local and regional players makes this market highly competitive. Companies operating in the market are trying various strategies to gain a competitive edge while maintaining their longstanding relationships with several equipment distributors and end-users.

Some of the key players in the market include but are not limited to Kidde, AMEREX CORPORATION, Hochiki Corporation, NAFFCO FZCO, DESAUTEL SAS, HATSUTA SEISAKUSHO Co. Ltd, Yamato Protec Corporation among others.

Find More Valuable Insights

The research report analyzes the market demand trends of the fire extinguisher market. The global market estimation and growth projection are based on factors like end-use industries development, COVID-19 crisis impact, replacement ratio, and adoption rate of fire extinguishers. As per Future Market Insights’ research scope, the fire extinguisher market has been studied and segmented based on pipe size, application, construction material and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market on both, the supply side and demand side.

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Fire Extinguisher Market by Category

By Product Type

  • Water
    • Air-Pressurized Water
    • Water-Mist
  • Foam
    • Aqueous film-foaming foam
    • Compressed air foam system
    • Others
  • Wet Chemical
    • Potassium Acetate
    • Potassium Carbonate
    • Potassium Citrate
  • Dry Powder
  • Carbon Dioxide
  • Dry Chemical
  • Others

By Fire Type

  • Class A
  • Class B
  • Class C
  • Class D
  • Class K

By End Use

  • Residential
  • Commercial
  • Industrial
  • Public Areas
  • Others

Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

About Us:

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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Refrigerated Display Cases Market To Grow At 5.5% CAGR By 2031-FMI

The report offers analysis in 20+ high-growth markets, providing detailed insights on Refrigerated Display Cases Market growth will evolve in the next decade. Increasing refrigerated display cases sales are set to enable the market’s valuation to reach US$ 9.5 Bn in 2021. Future Market Insights (FMI) in a study has predicted stable long-term growth for the market.

The refrigerated display cases (RDC) market has been registering high growth since the last few years. This growth is projected to continue over the coming years due to increasing demand from the food retail sector. The increasing population and rapid urbanization in emerging economies from will create significant opportunities for growth in the next few years.

Refrigerated display cases mostly used in retail stores and food & refreshment industry, for example, general stores/hypermarkets, supermarkets, eateries and hotels and non-routine outlets. RDCs help to attract customers through an attractive visual display of food and drink products.

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With the sector undergoing a recovery mode, the immediate as well as long-term growth outlook of refrigerated display cases the market remains positive. According to the report, the retail food and beverages sector will continue accounting for over 70% of sales of refrigerated display cases through the forecast period.

Introduction of high performance and connected refrigerated display cases with real time cloud access and maintenance will create lucrative growth opportunities. In the coming years, the market also will gain from the launch of low GWP refrigerants aimed at lowering environmental challenges.

Key Takeaways

  • Expansion of the supermarkets and hypermarkets will remain a chief growth driver, enabling the market rise at 5.5% CAGR between 2021 and 2031
  • Rising demand for ready-to-eat food is fuelling refrigerated display cases sales across supermarkets and hypermarkets in the U.S. The country is expected to account for over 70% of the North America market
  • Expansion of the food service sector will enable growth in Germany and France
  • The U.K. will emerge as a strong market, exhibiting 3.8% y-o-y growth in 2021 after a period of decelerating sales in 2020
  • While China currently holds dominance, Japan will emerge as the leading market in East Asia backed by rising demand for packaged food

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“Recent developments in food service and food retail sectors are creating lucrative prospects for the market. Consumers’ inclination towards add-on features like real time maintenance, remote access, and others is increasing, which is expected to give tailwinds to growth. In order to woo end users, manufacturers are therefore providing competitive price offering and advanced technologies,” says FMI analyst.

The implementation of stringent government norms and regulation on use of refrigerant for cooling is estimated to create high growth avenues for the refrigerated display case market. The increasing focus on eco-friendly and sustainable refrigerated display cases in developed and developing economies across the globe is creating growth opportunities.

Competitive Landscape

The refrigerated display cases market is fairly competitive, with key players accounting over two third of the overall market value share. These players are likely to invest in new technology developments and expansion of their networks in order to maintain their market share.

The refrigerated display cases market is fairly competitive, with key players accounting over two third of the overall market value share. These players are likely to invest in new technology developments and expansion of their networks in order to maintain their market share. Some of the key players in the market are Carrier Corporation, Frigoglass SAIC, Epta S.p.a. Refrigeration, Dover Corporation, Haier Group, Arneg S.p.A, Illinois Tool Works, Daikin Industries, Ltd., Fagor Industrial, and others.

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Refrigerated display case market is likely to grow at a moderate pace during 2021-2031. However, as it is a matured market, companies are expected to concentrate further on research and development activities. Collaboration, mergers and acquisition with regional companies will remain key strategies adopted by market players as they aim at expanding their footprint in regional market.

Get Valuable Insights into Refrigerated Display Cases Market Report

Future Market Insights, in its new offering, provides an unbiased analysis of the global refrigerated display cases market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The refrigerated display cases market study uncovers convincing bits of knowledge based on type (plug-in, semi plug-in, and remote), design (vertical, horizontal, and hybrid), and end user (food service sector and retail food and beverages sector) across six key regions.

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About Us

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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North American Barcode Scanner Industry Is Anticipated To Grow At A CAGR Of Almost 7%: FMI

Future Market Insights (FMI) in its latest report titled “Barcode Scanner Market: Global Industry Analysis and Opportunity Assessment, 2021–2031” reveals that the use of barcode technology is rapidly rising in both retail and manufacturing industries. Barcode scanners have become one of the best solutions for recording product information without making any major manual effort.

Currently, barcode solutions are being used across various domains owing to their exponential capabilities in systematically recording information such as product count, date of manufacturing, the date on which the product was supplied to the retailer and selling price. Moreover, the emergence of e-commerce and intra-regional markets that offer specialized services to a wide range of sectors has further expanded its application base.

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The technological advantages and cutting-edge features of barcode scanners are also making them popular in the healthcare industry. Barcode technology can help rectify medication errors, and medical practitioners and physicians can easily get information about medicines as well as their manufacturing dates.

The global barcode scanner market is estimated to be valued worth US$ 7 Bn in 2021, according to FMI. The market is expected to register robust growth on the backdrop of healthy demand from retail, e-commerce and logistics, healthcare, and manufacturing sectors.

The advent of barcode technology has greatly reduced the hassles of tracking supply and commodity sale records for retailers across the globe. Over the years, technology has been consistently improved and made more efficient.

Additional Highlights of the Report include:

The laser-based scanner is expected to remain the prime technology. Laser scanners are widely used in regions with established manufacturing and retail sectors such as Western Europe and North America. By the 2021-end, laser scanners are estimated to account for 32.3% revenue share of the market and will continue to be the most preferred barcode reader technology throughout the assessment period.

However, the camera-based reader is anticipated to see fast adoption as these scanners are innovative and configured with advanced 2D imaging technology. Based on product type, portable/handheld scanners are expected to remain the top choice of barcode scanners amongst consumers over the forecast period.

Owing to characteristics such as faster print speed and versatility, demand for portable/handheld barcode scanners is rapidly increasing in various parts of the world. The use of barcode scanners in the retail and commercial sector continues to be the highest and is expected to account for a major chunk of revenue over the forecast period. Meanwhile, the healthcare industry is swiftly adopting barcode technology as well.

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Market players are targeting APEJ as their key sales region. Zebra Technologies Corporation, Honeywell International Inc., DataLogics S.P.A, Cognex Corporation, OCOM Technologies, Wasp Barcode Technologies, JC Square Inc., SATO Holdings Corporation, Scandit AG and Toshiba TEC Corporation are some of the leading companies profiled in the FMI report.

Amongst regions, markets in the Asia Pacific excluding Japan (APEJ) and North America are expected to exhibit high growth potential. In APEJ, China and India are projected to achieve impressive growth in their barcode scanner market. By 2017-end, the region is projected to account for a revenue share of 29.5%, which is expected to increase to 33.8% towards the end of the forecast period.

Barcode Scanner Market Segmentation

By Product Type

  • Portable/Handheld
  • Rugged Scanners
  • PDA Scanners
  • Automatic Readers
  • Others
  • Fixed Position
  • Stationary Scanners
  • Presentation Scanners
  • Automatic Readers
  • Others

 

By End Use

  • Retail & Commercial
  • General Manufacturing
  • Healthcare
  • Logistics & Warehouse
  • Commercial Aviation
  • Defence
  • Others

By Technology

  • Pen Type Reader
  • Laser Scanner
  • CCD (Charge Coupled Device) Readers
  • Camera Based Reader
  • Omni Directional Barcode Scanner
  • Smartphone Based Scanner
  • RFID (Radio Frequency Identification Technology

By Region

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • MEA

About Future Market Insights (FMI)

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

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Food Service Equipment Market Is Projected Growth At 5.3% CAGR, According to FMI

Evolving food industry trends and changing dynamics of manufacturing and delivering methods in the foodservice industry are primarily shaping the market for foodservice equipment. Sales would multiply at a promising CAGR of over 5% during 2022 – 2029, as projected by a new Future Market Insights (FMI) report.

One of the major driving force for the market growth of the Foodservice Equipment is the rapid changes in supporting factors such as consumer preferences for fast food, increased working population, rising income, and rapid urban growth have led to an increase in the number of fast-serving restaurants and pubs, thus, furthering market growth.

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Most restaurant owners are shifting towards smaller-sized kitchen equipment to optimize their space and perform multiple functions at the same time. Operators of food trucks and pop-up restaurants are on the lookout for equipment that can easily fit on a counter top and free up square footage for other essentials. These trends will remain pivotal in the market build-up over the following years.

Key Takeaways – Foodservice Equipment Market Study

  • Food tourism – a new global trend especially in millennials has played a vital role in driving interest in food experiences and has led to increase in the number of food tour companies. This increase will continue to push demand for professional foodservice equipment for proper food handling and hygiene.
  • Automatic, wireless, and aesthetic designs in foodservice equipment that fit in smaller floor spaces, and are amenable with rules set by regulatory bodies such as NSF, will gain more significance.
  • Emergence of equipment with multifunctional capabilities will weigh heavy on conventional models in the near future.
  • To gain an edge over competition and increase efficiency, restaurants and hotels are upgrading and replacing old foodservice equipment with convenient digital touch control foodservice equipment.
  • By eliminating the usage of natural resources, key players are focused on introducing new equipment with energy efficiency capabilities, leading to improved cooking and production time.
  • North America is projected to be a prominent regional market for foodservice equipment, owing to high demand for replacement and renovations, along with aftermarket parts and service offerings, especially in the U.S.

The demand for foodservice equipment is mainly defined by renovation activities and miniaturization of the equipment to fit in relatively small floor spaces. Product customization, with new space-saving installations in accordance with standards, rules, and codes will play an important role in the value chain of the market.

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Foodservice Equipment Market: Participant Insights

With more number of small-scale manufacturers having similar product offerings, the market structure would remain fragmented. Furthermore, the increasing number of players in the foodservice equipment market has been pushing manufacturers to include forward integration in terms of services and installation, by offering aftersales support.

In terms of revenue, significant players such as Middleby Corporation, Welbilt, Ali Group S.r.l., ITW Food Equipment Group, AB Electrolux, Hoshizaki Electric Co., Ltd, Qingdao Haier Co., Ltd, and Rational AG together hold a significant share of market pie, backed by well-established sales networks and long-term partnerships with consumers.

Top manufacturers are strategically acquiring regional players to expand their global presence. For instance, Middleby Corporation has acquired Seattle-based Synesso, a designer and manufacturer of semi-automatic espresso machines. The company also acquired Brewtech, a market leader in professional craft brewing and beverage equipment, and Powerhouse Dynamics, Inc a leader in cloud-based IoT solutions for the foodservice industry.

Know More About Foodservice Equipment Market Report

The global foodservice equipment market report brings to fore an unbiased analysis of the global foodservice equipment market, contributing comprehensive information with historical demand data for 2014-2021, and forecast statistics for 2022-2029.

Based on various categories such as equipment type, end use, sales channel, and region, the research study offers insightful aspects of the global foodservice equipment. A detailed value chain analysis regarding procurement, pricing analysis has been presented in the report.

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Food Service Equipment Market by Category

By Equipment:

  • Food Preparation Equipment
    • Slicers & Peelers
    • Mixers & Grinders
    • Food Blenders
    • Processors
    • Others
  • Drink Preparation Equipment
    • Drink Blenders
    • Juicers
    • Ice Crushers
    • Others
  • Cooking Equipment
    • Grills
    • Fryers
    • Ovens
    • Toasters
    • Others
  • Warming and Holding equipment
    • Warmer
    • Merchandizers
    • Sauce Dispensers
  • Refrigerators and Chillers
  • Dishwashers

By Application:

  • Full-Service Restaurants
  • Quick Service Restaurants
  • Commercial Canteens

By Region:

  • North America
    • U.S.
    • Canada
  • Latin America
    • Mexico
    • Brazil
    • Peru
    • Chile
    • Others
  • Europe
    • Germany
    • U.K
    • France
    • Spain
    • Italy
    • Belgium
    • The Netherlands
    • Luxembourg
    • Poland
    • Russia
  • East Asia
    • China
    • Japan
    • South Korea
  • South Asia
    • India
    • Indonesia
    • Malaysia
    • Singapore
    • Thailand
  • Oceanic
    • Australia
    • New Zealand
  • The Middle East and Africa
    • GCC
    • Southern Africa
    • North Africa

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Competitive Landscape

To improve their global presence and distribution channels, key players are investing in mergers and acquisitions. Furthermore, many players are working on new product launches and development to improve their offerings. For instance:

  • In 2020 Middleby Corporation acquired Zhuhai Guangdong China-based United Foodservice Equipment Group. The acquisition will enable the company to expand iyts product portfolio.
  • In 2021, Dover Corporation sold its Unified Brands, which is part of Dover’s Refrigeration & Food Equipment segment, to Electrolux Professional. Unified Brands designs, manufactures, and markets professional cooking equipment for commercial foodservice operators. Unified Brands will benefit from Electrolux Professional’s focus on the commercial foodservice market and its complementary customer base, product lines, and channel partners.
  • In March 2022, Welbilt, Inc. announced that it has reached a contract to sell its Manitowoc Ice business to Pentair plc, an Ali Group company, for roughly $1.6 billion in cash, cash-free and debt-free. Manitowoc Ice designs manufacture and sells a complete line of ice machines and related equipment. Manitowoc Ice will benefit from Pentair’s focus on water solutions, as well as the company’s diverse customer base and product lines.

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U.S. Accounted For More Than 77% Of The North American Oil & Gas Terminal Automation Market In 2022

The size of the global oil and gas terminal automation market was estimated at US$ 1258.0 Mn in 2021 and is predicted to reach US$ 1303.1 Mn in 2022. The overall demand for oil & gas terminal automation is also anticipated to increase at a 7.8% CAGR between 2022 and 2032, reaching a value of roughly US$ 2761.6 Mn by 2032 as a result of the oil and gas industry’s rapid expansion.

End users are looking for ways to increase their productivity and efficiency while still meeting customer demands as the number of terminal operations increases globally. This has increased awareness of the oil and gas terminal automation market.

Automation of oil and gas terminal processes, particularly those involving load authorization, product movement, product measurement, documentation, and reporting, involves the use of technology and systems. These solutions assist businesses in lowering costs while increasing productivity, efficiency, and safety.

During the forecast period, the oil & gas terminal automation market is anticipated to experience strong growth due to the rising demand for energy around the world and rising investments in terminal automation solutions.

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Growing concerns pertaining to cyber security and safety coupled with relatively higher initial capital investment associated with building a completely automated oil and gas terminal are likely to serve as impediments to growth of the global oil and gas terminal automation market between 2016 and 2026.

Segmentation highlights

Global oil and gas terminal automation market has been categorically divided into key market segments based on category and regions. On the basis of category, the market has been segmented into software, hardware, and services segments. These in turn are divided into key sub-segments.

  • The Software category segment is projected to dominate the global oil and gas terminal automation market during the forecast period, accounting for a market share of nearly 38% in terms of value by the end of 2026. On the other hand, the hardware segment is estimated to witness 7.0% CAGR during forecast period to account for a market share of 33.7% in the overall oil and gas terminal automation market by 2026 end. Within the hardware segment, the HMI segment is likely to witness fast growth during 2016 –-2026.

Regional projections

The North America and Asia Pacific excluding Japan (APEJ) markets are anticipated to emerge the dominant regional markets in the global oil and gas terminal automation market throughout the assessed period. Asia Pacific is estimated to project 8.8% CAGR in the forecast period, 2016–2026. The oil and gas terminal automation market in countries in Eastern Europe is also likely to witness steady growth in the next 10 years.

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Vendor insights

The global oil and gas terminal automation market is dominated by a few top market companies such as Honeywell International Inc., Emerson Electric Co., ABB Group, Rockwell Automation, Inc., Yokogawa Electric Corporation, Siemens AG, FMC Technologies, Inc., and Schneider Electric SE. Certain key market companies are increasingly focussing on acquiring smaller players with specialised offerings – for instance, wireless technology based advanced systems – to better cater to the steadily growing global market demands so as to gain an edge over competition.

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

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By 2030, Heat Pumps Is Anticipated That APAC And North America Will Account For 73.9% Of Global Revenue

According to FMI, in the Asia Pacific region, heat pumps will dominate the market for, followed by North America. By the end of 2030, it is anticipated that APAC and North America will hold a combined revenue share of 73.9 percent of the global market.

According to Future Market Insights (FMI), by the end of 2022, the heat pump market will have grown by 3.6 percent annually, reaching a value of about US$ 33,156 Mn.

The initial reduction of energy consumption and carbon emissions from such devices is recognised as a key market driver for heat pumps. Greater residential and construction investment will open up new markets for heat pump suppliers. Between 2022 and 2030, the market is anticipated to grow at a significant rate (CAGR) of 5.4 percent.

The Heat Pumps market in China is expected to rise at nearly 6.7% CAGR over the forecast period. China, one of the largest markets in Asia-Pacific to generate high demand for heat pumps in all three sectors including commercial, residential and industrial. Heat pumps can effectively use clean energy for heating, so they have been widely used in China. The country is expected to reach a value of about US$ 21,011.7 Mn by 2030.

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Amidst the health crisis, cooling as well as heating systems are critical to fulfil the immediate needs of consumers, such as providing thermal comfort in hospitals and homes, preserving food and medicines, and keeping data centers running. In line with this, refrigeration and heat pumps are essential for consumers.

As the world attempts to fight the COVID-19 pandemic, it has led to delayed production across several heat pump production facilities in major coronavirus hit countries such as the US, China, and Germany, This is expected to dampen heat pump sales by around US$ 1 Bn in 2022.

Moreover, the COVID-19 pandemic will significantly impact consumer behavior in the short term, with domestic shipments from China for air source heat pumps (ASHPs) registering drop of over one-third in January 2022.

The heat pumps market will witness v-shaped recovery growth, owing to rising inclination towards innovative construction solutions, especially in countries such as India, China, and Mexico.

Key Takeaways from Heat Pumps Market Study

  • Air-water heat pumps are finding immense use in domestic hot water, floor heating, and space heating/cooling applications.
  • Heat pumps having flexible or twin-speed features to reduce energy consumption and improve overall efficiency throughout are likely to garner substantial traction over the forecast period.
  • Demand for CO2 refrigerant heat pumps is expected to increase, given its excellent recyclability, low cost, and environment-friendly attributes.
  • Hybrid heat pumps are likely to see significant rise in adoption, owing to their high efficiency, lower energy consumption, and cost effectiveness as compared to other heat pumps.
  • Air-source heat pumps continue to grab huge attention of market players, owing to their low installation cost and high demand in North America and Western Europe.

“As the world moves towards sustainable and green energy solutions, heat pumps are expected to replace conventional heating systems rapidly in the near term. In addition, the ongoing coronavirus (COVID-19) spread can alter how companies organize their supply chains in the coming years, with more stress being layed on decentralization”.

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Heat Pumps Market : Competitive Landscape

The study provides vital insights of the competition landscape in the heat pumps market, along with various strategies adopted by prominent players. The heat pumps market is fairly competitive, with manufacturers offering identical products. Some of the key manufactures in the heat pumps market are Panasonic Corporation, Mitsubishi Electric Corporation, Daikin Group, NIBE Group, and Danfoss Group Global.

Market participants are investing in R&D activities to develop new products with better energy efficiency, and are also focusing on providing aftersales services.

Explore wide-ranging Coverage of FMI’s Industrial Automation Market Insights Landscape

Cryogenic Valves Market – Cryogenic Valves Market by Valve Type, Valve Type, Gas Type, End Use & Region – Forecast 2022 – 2032

Hydronic Underfloor Heating Market – Hydronic Underfloor Heating Market by Facility, Application & Region – Forecast 2022 – 2032

Cooling Tower Fans Market – Cooling Tower Fans Market by Technology, Product Type, End Use, Air Induction & Region – Forecast 2022 – 2032

Cable Cars And Ropeways Market – Cable Cars and Ropeways Market by Industry, Sales Channel, Type & Region – Forecast 2022-2032

Compact Power Equipment Rental Market – Compact Power Equipment Rental Market by Type & Region – Forecast 2022 – 2032

About Future Market Insights (FMI)

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

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According To Future Market Insights, Value Of The Lead Acid Battery Market Is Anticipated To Nearly Double By 2031

As per FMI, the demand for AGM batteries is expected to increase at a high pace, exhibiting a 6.2% CAGR in 2021.

According to the market analysis by Future Market Insights, the expansion of automotive production facilities to cover rural and other remote areas has led to the increasing demand for the lead-acid battery. Rapid technological advancements in production technologies are also projected to complement market growth over the coming years.

Demand for the lead-acid battery is increasing with the rise in the volume of the vehicle fleet in recent years. This can be attributed to an increase in aftermarket sales in regular interims for battery replacement.

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The growing requirement has led to mass production and has increased the importance of process automation in the lead-acid battery market. The market is shifting towards industry 4.0 s, leading to the universal adoption of new production technologies.

There also is an increasing demand from other industries for the deployment of lead-acid battery. An increasing number of players focusing on research and development related to lead-acid battery is anticipated to have a significant contribution towards market growth in the years to come.

“The lead acid battery market is growing at a strong pace, driven largely by increasing demand for energy efficient solutions across automotive sector. The increasing demand for electric vehicles will create extensive opportunities for manufacturers. Key industry participants have been focusing product diversification to offer energy efficient solutions and gain a competitive advantage,” says a Future Market Insights analyst

Key Takeaways from Lead Acid Battery Market Study

  • Flooded battery is projected to hold over 49% of the global market share in 2021 in terms of product type, supported by superior configurations.
  • Transportation is projected to hold over 56% of the overall market share as leading segment in terms of application by 2031-end, supported by increasing investments in electric vehicles production.
  • China will remain a chief market, backed by rising demand from the automotive industry. It is expected to account for over 57.3% of demand registered in East Asia in 2021.
  • The markets India is set to surge at around 6% CAGR over the next ten years.
  • Germany is emerging as a key market in Europe, accounting for over US$ 2,509.4 Mn in 2021, driven by expansion of the automotive industry.

Competitive Landscape

Companies operating in the lead acid battery market are aiming at strategic collaborations and partnerships with other manufacturers to expand their manufacturing capacity. For instance:

  • In March 2019, GS Yuasa Corporation has announced that GS Yuasa International Ltd. launched a new automotive lead-acid storage battery plant operated by equity method affiliate inci GS Yuasa Akü Sanayi ve Ticaret Anonim Sirketi (“IGYA”) in Manisa Province, Turkey.
  • In February 2020, the company has announced the launch of its SNS-TN series of valve-regulated stationary lead-acid batteries.
  • In July 2020, Blink Charging and Enersys collaborate To Develop High Power Inductive/Wireless and enhanced DC Fast Charging Systems with energy storage options for the automotive market.
  • In January 2021, EnerSys is teaming up with TravelCenters of America (TA) to offer Odyssey Performance and NorthStar PRO Group 31 batteries for heavy-duty applications in all TA locations throughout the United States.

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Some of the prominent players operating in the Land Survey Equipment Market profiled by FMI are:

  • Furukawa Electric Co., Ltd.
  • Hitachi Chemical Company, Ltd.
  • Narada Power Source Co. Ltd.
  • SiteTel Sweden AB (NorthStar)
  • Clarios
  • Leoch International Technology Ltd.
  • Yokohama Batteries Sdn. Bhd.
  • Enersys
  • Exide Industries Ltd.
  • GS Yuasa Corporation
  • Hoppecke Batterien GmbH & Co. KG.

Find More Valuable Insights

The research report analyzes demand for Lead Acid Battery. The global Lead Acid Battery market has been analyzed with the COVID-19 impact, various macroeconomic factors, market trends and market background. As per Future Market Insights, the market has been analyzed on the basis of

By Product Type:

  • Flooded Battery
  • AGM Battery
  • Gel Battery

By Application:

  • Transportation
    • Passenger Cars
    • LCV
    • HCV
    • Two wheelers
    • Others
  • Motive Industrial
  • Stationary Industrial
  • Commercial
  • Residential
  • Grid Storage
  • Others

By Sales Channel:

  • OEM
  • Aftermarket

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia & Pacific
  • East Asia
  • Middle East and Africa (MEA)

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Key Questions Answered in Lead Acid Battery Market Survey

  • What is the current valuation of lead acid battery market?

The lead acid battery market is expected to surpass a valuation of US$ 54.3 Bn by 2021.

  • At what rate did the lead acid battery market expand in the last 5 years?

The lead acid battery market exhibited steady growth at 1.5% in the last five years from 2016 to 2020.

  • What is the lead acid battery market demand outlook?
  • What are the key trends prevailing in the lead acid battery market?
  • What are the key factors driving Lead Acid Battery sales?
  • What is the North America Lead Acid Battery market outlook?
  • What is the cumulative share of the top companies in lead acid battery market?
  • At what rate will the lead acid battery market grow in Europe?
  • Which are the top 5 countries exhibiting high demand for lead acid battery?
  • At what rate will the Japan lead acid battery market grow?

About Future Market Insights (FMI)

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

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Lab Automation Market is likely to grow at a CAGR of 9.6% through 2027, reaching US$ 3 Billion by 2027

Dynamics of the Global Lab Automation Market
Increasing incidences of life threatening diseases and injuries have led to increasing diagnostics procedures, worldwide. It is estimated that, the direct and indirect costs of diagnosis will increase over a period of time. The rising research and development activities in the field of molecular and genetics, biochemistry, microbiology, and immunology have also boosted the demand for accurate and cost saving facilities. To develop cost-effective and cost-efficient medical devices and lab automation services, various governments in developed countries are actively funding R&D activities. For instance, the New South Wales (NSW) government in Australia, has provided a medical devices fund of around US$ 8.0 million in 2017-2018 to help encourage and support investments in the development and commercialization of medical devices, related technologies, and services.

According to a recent market report published by Future Market Insights titled, ‘Lab Automation Market – Global Industry Analysis and Opportunity Assessment, 2017–2027’, the global lab automation market is expected to be valued at US$ 1,219.4 Mn in 2017, and is expected to register a CAGR of 9.6% from 2017 to 2027. Lab automation is increasingly being installed by various end users such as pharmaceutical companies, hospitals and diagnostic centers, educational institutions, contract research organizations (CROs), and research institutes. There has been an increase in the usage of lab automation components in hospitals and diagnostic centers, due to an increase in the demand for biochemistry devices.

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Favourable government policies for start-ups enable companies to develop cost-effective healthcare solutions in the lab automation market. Over the last few years, government authorities in Asia Pacific and Middle East and Africa are encouraging start-up companies as well as MNCs to boost industrial growth in the healthcare and medical device industries. Major players in the in-vitro diagnostics market can capitalize on the economies of scale to strengthen their position in the market.For instance, India, a developing country in the Asia Pacific region, has announced new policies for attracting MNCs as well as start-up companies across domains, including medical device manufacturing. According to the policies, start-up companies in India are exempt from tax for the first three years after establishment, and patent protection costs are subsidized. Thus, favourable government policies in developing countries are expected to drive overall the lab automation devices and services market.

However, the complex integration of lab tools hinders the demand for lab automation solutions. Lab professionals are focusing on the better utilization of test tools, consolidating various resources and deploying effective lab tools across all platforms. Interconnecting various platforms across the lab is a very critical task, and needs advanced PR-PR open-source high-level robot programming language as a cross-platform laboratory automation system, which may lead to complexity and a variety of test configurations, and restrain the growth of the lab automation market over the forecast period.

Global Lab Automation Market: Key Players

Some of the key competitors in the lab automation market are Abbott Laboratories, Agilent Technologies, Perkin Elmer, Inc, Thermo Fisher Scientific, Inc, Siemens Healthcare, Danaher Corporation, Becton, Dickinson and Company, and Transcriptic, Inc.

These key players are constantly focusing on product innovation and geographical expansions to sustain their market presence and increase revenue generation by developing various types of solutions and delivering outstanding offerings to several end users.

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Key Segments:

Component Type

  • Devices
    • Biochemistry Devices
    • Molecular Devices
    • Hematology Devices
    • Immunology Devices
    • Microbiology Devices
    • Others

Software

  • Scheduling Software
  • Momentum Integration Software

Application

  • Life Sciences Research and Development
  • Drug Discovery
  • Diagnostics

End User

  • Pharmaceutical Companies
  • Hospitals and Diagnostic Centers
  • Educational Institutions
  • Contract Research Organizations (CROs)
  • Research Institutes

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Key Regions

  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Western Europe
    • Germany
    • France
    • U.K.
    • Spain
    • Italy
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • Rest of Eastern Europe
  • APEJ
    • China
    • India
    • Australia & New Zealand
    • ASEAN
    • Rest of APAC
  • Japan
  • MEA
    • GCC Countries
    • Turkey
    • South Africa
    • North Africa
    • Rest of MEA

About FMI:

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

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Future Market Insights,
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