Market Research Blog – Page 10715 – New Product Development

Customers To Choose The Product And Increase The Growth Of The Spray Cheese Market-FMI

Spray cheese market is a cheese spread product obtained with the help of processed cheese, which also achieved its fame with names such as easy cheese, aerosol cheese. It is a product being launched in the 1960s in the US, with a trademark of ‘Snack Mate’, by the manufacturer Nabisco, which is renamed itself to Kraft.

As compared to other processed cheese products the spray cheese remains at the top for the provision of convenience and portability for the usage of the product and it also does not require refrigeration. The spray cheese consists of ingredients which makes it enriched with sodium phosphate, calcium phosphate, lactic acid, sodium alginate, and others.

The container in which spray cheese is stored is not actually an aerosol spray can, as the cheese doesn’t combine with propellant to get transformed into fine mist whenever it gets sprayed, and thus it remains protected.

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Spray Cheese Market Segmentation

Spray Cheese market can be segmented on the basis of flavors, distribution channel. On the basis of flavors, spray cheese can be segmented into sharp cheddar, cheddar, Cheddar ‘n Bacon, American Flavor, and others. There are more flavors of spray cheese being developed to provide a number of options for the customers to choose the product and increase the growth of the spray cheese market.

On the basis of the distribution channel, spray cheese market can be segmented into modern trade, specialty stores, convenience store, online stores and other retail stores. With the increase of online stores and their accessibility, the sale of spray cheese has also increased.

Spray Cheese market Global Market Trends and Market Drivers

The innovative packaging of the spray cheese promotes the fulfillment of demand of cheese based products. Though nutritionally other processed cheese products and spray cheese may be same but some properties possessed by spray cheese makes it a good product of processed cheese such as one need not spread the cheese on the bread with the help of a knife, instead the consumer can easily spread the spray cheese with the help of the can in which it is packed.

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The packaging of the spray cheese provides a better accessibility to the product and an ease for the consumers to use it. The spray cheese does not need any concern for its storage unlike regular cheese which is available in the solid state but it gets liquefied if exposed to high temperature.

The spray cheese is less viscous due to which it can easily be applied in the manner the consumers want. There are additives such as calcium added in order to increase its nutrient content more effectively. The spray cheese serves best for on-the-go snacks or at-home snacks. Another factor which promotes the growth of the spray cheese market is its availability in various flavors which provides a variety of tastes to the consumers.

Spray Cheese Market Regional Outlook

The regional segment for the market of spray cheese market is divided into seven different regions: Western Europe, North America, Eastern Europe, Latin America, APEJ, Middle East & Africa and Japan. North America is the region which has the maximum demand of the spray cheese. APEJ turns out to be an emerging market for the growth of spray cheese market.

Variety of spray cheese formulations have been introduced by the manufacturers and some of the global market players manufacturing spray cheese market include Berner food and beverage, The Kraft Heinz Company., and others. The Kraft Heinz Company, which is an American food company formed when the Kraft Foods Group and Heinz merged together, is among the global leaders in the spray cheese market.

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, application, and industry.

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About Future Market Insights (FMI)

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

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Contact and Convective Dryers Global Industry Overview and Competitive Landscape till 2029

Future Market Insights (FMI) examines the growth trajectory of the contact and convective dryers market for the assessment timeframe of 2022-2029 in its latest research study. According to the research study, sales of contact and convective dryers reached 2,649 units in 2021, with a 2.8 percent year-on-year increase expected in 2022.

According to the FMI study, the growing emphasis on industrial drying as a necessity for maintaining product quality is emerging as a foundation for the growth of the contact and convective dryers market. Industrial drying is still one of the most in-demand unit operations, and this demand is expected to rise as end-user industries strive for ‘operational efficiency.’

Contact and convective dryers are industrial dryers that provide the heat required for evaporation and water removal.

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Industrial drying has been spectating proactive efforts in boosting research & development (R&D) over the last three decades to adapt to the evolving requirements coming from various product types. Growing investments in research and development activities is marking new beginnings for the market in terms of new product developments and innovations coming to the fore.

Customized contact and convective dryers will remain a prime focus for manufacturers to revive their business models, unveils the FMI research study. As product customization is one of the best tools businesses can use to comprehend the end user needs, manufacturers are focusing on product personalization to diversify their offerings and reach new markets with minimum tweaks to their business models.

Manufacturers active in the contact and convective dryers market will continue placing their bets on strategic mergers and acquisitions, with new possibilities as a result of combined-expertise and shared resources pool.

According to the report, the role of contact and convective dryers in form of intermittent drying equipment is likely to be prominent in 2022 and beyond, as they address the fundamental drying requirements before the products go upstream for complex drying processes. However, limited installation rate coupled with low replacement ratio are two of the key factors expected to pose significant challenges for manufacturers of contact and convective dryers.

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Key Segment:

By Product Type :

Contact
Convective

By Orientation :

Horizontal
Vertical

By Application :

Pharmaceuticals
Metallurgy
Food & Beverages
Chemicals
Auxiliary Manufacturing

By Region :

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

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Machine Mounts Market to grow with a year on year value growth of 5.4% in 2022 : FMI

The Global Machine Mounts Market to grow with a year on year value growth of 5.4% in 2022 reaching a value of about US$ 1,752.5 Mn by 2022 end.

Machine Mounts is significantly used for fast, precise and automatic tool setting and workpiece measurement in grinding, turning and milling. It has the potential to cut setup time while enhancing dimensional accuracy. The global businesses are expected to witness a considerable value CAGR of 5.5% during the period of 2022 and 2027.

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FMI has identified Western Europe to remain a key market for machine mounts over the forecast period owing to increasing demand from end-use applications. We estimated the region to witness a value of CAGR 6.4% in the industry of Machine Mounts. We expect global Machine Mounts Market to account for about 1.5% of global machine tool market.

A growing necessity of automation across various industry sectors has proved to be the most valuable force driving the growth of the global machine mounts market. A machine mount is known for its use as a machine isolation device and is placed at the bottom of the machine tool. As global industrial growth reaches new heights, there has been a significant growth in using machine mounts.

The machines commonly known in the global machine mounts market are CNC machines, general machine tools, cutting machines, injection moulding machines, forming presses, EDM machines, air compressors, etc.

A new research report by Future Market Insights titled ‘Machine Mounts Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment 2017 – 2027’ presents a detailed forecast of the global machine mounts market for the period 2017-2027. The study involves an in-depth approach for market analysis, as there are various designs available under every single category of machine mount types. According to the report, the global machine mounts market is expected to reach a value of over US$ 2,200 Mn by the end of 2027 and is expected to register a robust CAGR of 5.3%during the forecast period.

This growth in revenue is triggered by an improved trade scenario across the world. Government of many countries are making their move towards improving business relations with other economies by framing supportive trade policies. Japan is a prominent player in the global machine mounts market that has been displaying signs of strengthened export business in the last few years.

General Machine Tools to Dominate Global Market; Western Europe Largest Regional Market.

Demands from machinery operations are growing across key industries. Sectors such as automotive, railways, defence, agriculture, medical industry etc., are exhibiting a strong demand for different machines that incorporate machine mounts. General machine tools are expected to have a much larger market size than other machine types.

This segment is expected to reach a market value of over US$ 1,000 Mn by the end of 2027, growing at a CAGR of 5.7% during the forecast period. CNC machines are also expected to be in close competition with general machine tools in terms of growth rate.

Among the regional markets, we forecast Western Europe to project exceptional growth. With the economic stability and industrial growth, the region is expected to witness highest demand for machine mounts during the forecast period. Japan is projected to be a lucrative regional market for machine mounts with its progressive growth rate.

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Competitive Landscape

This comprehensive research report comprises a section dedicated to the analysis of leading companies and their key developments over the years. The report includes a brief profile of all these companies, including a SWOT analysis. The report mentions key players like Trelleborg AB, Cummins Inc., LORD Corporation, Hutchinson SA, Total Vibration Solutions Ltd., Vibra Systems Inc., Sunnex Group, Nu-Tech Engineering Services Ltd., Rosta AG, Vishwaraj Rubber Industries, Industrial Components Group, Fibet Group, Kurashiki Kako Co., Ltd. etc.

Global Machine Mounts Market by Category

By Product Type:

Levelling Mounts
Anti-Vibration Mounts
Sandwich Mounts

By Machine Type:

CNC Machines
General Machine Tools
Cutting Machines
Injection Molding Machines
Forming Presses
EDM Machines
Air Compressors

By Sales Channel:

OEM
Aftermarket

By Region:

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

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The report states that aggressive marketing in the top countries of Latin America and the Middle East & Africa could benefit companies manufacturing machine mounts. What are the other strategies being adopted by Tier 1 and Tier 2 players in the global machine mounts market?

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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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Backflow Preventers Market Growth Factors, Opportunities, Ongoing Trends and Key Players 2031

Backflow preventer sales are expected to reach US$ 367.4 Mn in 2021, according to Future Market Insights (FMI), an ESOMAR-certified research and consulting firm, with a stable long-term projection. COVID-19’s recessionary effects on construction activities slowed backflow preventer demand in 2020, causing backflow preventer sales to slow.

However, barring a few countries, the water infrastructure development activities have resumed at a healthy rate post Q2 of the financial year. With the sector undergoing a recovery mode, the immediate as well as long-term growth outlook of backflow preventers market remains positive.

The lifetime cost of a plastic backflow is far less than in the designs of the past. In present times, entire assembly of backflow prevention device manufactured with new composite materials can equal the costs of one part of the assembly in older models.

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Considerable increase in government norms and regulation for plumbing industry is expected to create growth opportunities. The increasing inclination towards reduced pressure zone backflow preventers in developed and developing countries across the globe is expected to drive the market.

Key Takeaways from Backflow Preventers Market Study

Global backflow preventer market is expected to exhibit 3.7% CAGR between 2021 and 2031
The U.S. is projected to account for over 75% sales in North America, thanks to increasing residential construction
Increasing focus on waste water treatment will enable the U.K. register 1.9% y-o-y growth in 2021
Increasing construction activities will drive growth in Germany and France
Increasing government spending towards waste water treatment will drive growth in Japan and South Korea

“Stringent laws implemented to ensure safe drinking water are expected to give impetus to the backflow preventer market. In addition to this, innovation of new connected backflow preventers will enable the market gain momentum at a steady pace through the forecast period. Competitive price offering, increase in end user satisfaction in terms of performance, and use of advanced technologies are some of the key strategies implemented by manufacturers operating in the market,” says FMI analyst.

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Competitive Landscape:

The backflow preventers market is understood to be fairly consolidated, with key players accounting for nearly 60% of 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 shares. Some of the key players in the market are Honeywell International Inc, Rexnord Corporation, Conbraco Industries Inc., Watts Water Technologies Company, Emerson Electric Co., Caleffi S.p.a., W.W. Grainger, Inc., A.R.I. Flow Control Accessories Ltd, BEULCO GmbH und Co. KG and others.

Backflow preventer market is estimated to witness sound growth during 2021-2031. However, as it is a matured market, companies are expected to concentrate further on research and development activities to develop more in the field of water management that meet personalized requirements of consumers. Collaboration, mergers and acquisition with regional companies are some of the key strategies market players are likely to focus on to gain competitive edge.

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

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. 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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Pneumatic Actuator Market Estimated to Exhibit 5% CAGR through 2031: FMI

Through 2031, the market for pneumatic actuators is anticipated to grow at a rate of over 5% CAGR. Pneumatic actuator demand has increased dramatically in recent years due to an increase in applications in a variety of industries, including offshore, transportation, and industrial automation, to name a few. Although the COVID-19 outbreak temporarily slowed the growth of the pneumatic actuator market earlier in 2020, it is anticipated that the market will pick up steam in the following years thanks to the steady recovery of the key application sectors.

The recently revised edition of the report on the ‘pneumatic actuator’ market study by Future Market Insights (FMI) provides a thorough analysis of the global pneumatic actuator market potential, growth & restraining factors while emphasizing the new trends in the leading regions such as North America, Europe, and the Asia Pacific during the forecast period of 2021 to 2031.

According to the report, the United States, Germany, India, China, and a few other countries will emerge lucrative while 20+ countries will maintain a positive market outlook throughout the forecast period.

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How does Future Outlook on Pneumatic Actuator Market Compare with Historical Sales?
Sales of pneumatic actuators increased steadily over the past decade with the increase in demand for rack & pinion and scotch yoke type of pneumatic actuators. Advancements in the manufacturing sector and expansion of key application sectors such as mining, transportation, and others further propelled the growth, apart from a temporary decline in 2020.

According to FMI, the global pneumatic actuator market expanded at over 4% CAGR during the last 5 years from 2016 to 2020.

As the key application sectors are regaining traction and are getting over the effect of the pandemic, the demand for pneumatic actuators is subject to rising again creating ample opportunities for the key players.

Additionally, the surge in demand for double-acting type pneumatic actuators is further bolstering the growth of suppliers. According to FMI, the global pneumatic actuator market is set to ascend at over 5% CAGR through 2031.

How is the Rise in Demand in Transportation Sector Augmenting the Growth of Pneumatic Actuator Suppliers?
Pneumatic actuators are mechanical devices that use compressed air to convert energy into mechanical motion. As it has extensive application in the transportation sector, the recovery in this sector is expected further push the demand-supply graph for pneumatic actuators upward in the coming years.

According to a report, titled “Logistics & Transportation Industry” published by SelectUSA, the logistics & transportation industry is one of the highly progressive industries in the world. As stated in the report, the United States business logistics costs reached US$ 1.6 Trillion in 2018, representing 8% of the Gross Domestic Product (GDP) in that year, while the Foreign Direct Investment (FDI) in the industry totalled US$ 1.5 Billion. This gives a glimpse of the growing opportunities for pneumatic actuator manufacturers in the transportation sector.

Pneumatic Actuator Market Category-Wise Insights

Which Product Type is Dominating in the Pneumatic Actuator Industry?

Presently, the rack and pinion segment is leading in the global pneumatic actuator market and is expected to exhibit hegemony throughout the forecast period in terms of product type. This type of pneumatic actuator is highly preferred in the transportation sector as it provides with smooth driving experience by converting the rotational motion of the steering wheel into the linear motion needed to turn the wheels. Also, it provides the gear reduction which makes it easier to turn the wheels.

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It is extensively used in applications where an external force is not available to retract the piston or high force is required in both directions of travel.

Which Application Segment is Fuelling the Sales of Pneumatic Actuator?

Presently, the industrial automation segment is mostly fuelling the sales of pneumatic actuators in terms of application. Industrial automation is the use of various automated control systems such as robots, Artificial Intelligence, and others. With the technical and digital advancements, this sector is growing fast. This in turn is surging the demand for pneumatic actuators.

Other key segments in terms of application, which are augmenting the sales are transportation, mining offshore, and others.

Pneumatic Actuator Market Competitive Landscape

The global pneumatic actuators market is highly competitive and thriving on the revenues of the leading players. To capitalize on the new opportunities, key pneumatic actuator market players are launching quality products more frequently.

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By 2026, India Electrical Testing Services Market Is Anticipated To Experience Revenue Growth: FMI

In 2020, there was less demand for electrical testing services as a result of COVID-19’s negative economic effects. However, as economies recover, it will trigger a recovery in business activity across a range of industries. The need for electrical testing services will consequently increase.

Electrical testing services are a type of evaluation that include a thorough examination, scrutiny, and diagnosis of vital heavy duty electrical equipment to guarantee its longevity and operational performance. Electrical equipment includes things like transformers, rectifiers, circuit breakers, cables, transmission lines, batteries, etc.

Electrical service technological improvements have resulted in increased complexity in maintenance work and services. As a result, the need for electrical testing services designed to supplement complicated industrial networks is expected to increase in the future years.

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Key Takeaways of North America Electrical Testing Services Market Study

In terms of service type, the demand for transformer testing and circuit breaker testing will remain considerably high through the forecast period.
The U.S. will emerge as a highly lucrative market, accounting for maximum demand for electrical testing services in North America.
Industrialization in China, will support expansion of the electrical testing services market in Asia Pacific.
Favorable government policies and expansion of power generation stations will continue supporting growth in India.

“Surge in the demand for more efficient electrical devices and electrical machinery in various sectors will present attractive scope for sales of electrical testing services. In order to gain competitive strength, the market players are expected to focus on expanding their footprint in emerging markets” says a FMI analyst.

Competitive Landscape

The market is moderately consolidated, with key players accounting for more than half of the market share. These players are likely provide long-term service guarantee with annually maintaining contract. Some of the key players in the market are Schneider Electric, Siemens AG, Eaton Corporation plc, General Electric Company, ABB Inc., RESA Power LLC, Voltech Engineers Pvt. Ltd., DNV GL, Dobel Engineering Company, Power Products & Solutions, American Electrical Testing, Haugland Group LLC, Dekra, TCS Electrical Co., Phase One Electric, Intran, GEM Electrical Services and Electric Power Systems.

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Global Electrical Testing Services Market Projection

Electrical Testing Services market is likely to grow at a moderate pace during 2021-2031. As the market have competition intensity due to the offered service rate and durability of service from recognized service team. Due to the new technological evolvement in the testing equipment it makes easier for service/testing person to do it more efficiently. The companies are providing AMC for their products only due to compatibility of the parts/material used.

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Industrial Battery Chargers Market is Expected to Generate Huge Profits by 2032

The global industrial battery chargers market is projected to witness growth at a CAGR of 8.5%, to create an absolute $ opportunity of more than US$ 2.25 Bn in 2022. The sales in industrial battery chargers are expected to exceed US$ 3.67 Bn by the end of 2028.

The most recent market research data from Future Market Insights indicates that more than 1.3 million industrial battery chargers were sold in 2018. (FMI). The study predicts that in 2022, purchases of industrial battery chargers will rise by more than 7%.

Rising new grid sales call for the use of secondary or rechargeable batteries for energy distribution and transmission, which strongly encourages regional and local governments to provide subsidies for the purchase of affordable alternative energy systems. According to the FMI report, this will be crucial in boosting industrial battery charger sales in the future.

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As industrialization continues to generate ever-growing demand for energy storage, the industrial battery chargers are likely to witness heavy adoption. More than 35% of the global demand for industrial battery chargers is accounted by IT & data center, and energy & power industries, as indicated by FMI’s analysis.

SLA (sealed lead acid) batteries, representing a dominant market value share, will face strong competition from NiCd (Nickel-Cadmium) and plante batteries in coming years.
FCBC (float cum boost) and dual FCBC configurations are likely to emerge highly lucrative for industrial battery charger manufacturers.
Hybrid technology industrial battery chargers will reportedly emerge as the most attractive segment in industrial battery chargers market, within the next few years.

Favorable Government Initiatives to Accelerate Adoption of Industrial Battery Chargers

Increase in the energy distribution and transmission infrastructure backed by favorable governmental regulatory framework, and the flourishing trend of sustainability through non-conventional alternatives as energy sources are playing a vital role in establishing a strong adoption base for industrial battery chargers.

“The rate of industrial battery chargers’ procurement will significantly take off as electrification continues to receive strong governmental support. Mounting pace of the smart grid adoption across industries will remain another key factor encouraging preference for industrial battery chargers in the years to come,” says a senior market research professional at FMI.

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Asian & European Economies to Lead in Industrial Battery Chargers Market

Chinese and Indian industrial sectors continue to generate substantial demand for industrial battery chargers for a plethora of energy solutions. This according to the report is prominently pushing growth of industrial battery chargers market in APEJ. According to the report, APEJ currently holds almost a fourth of the total revenue of industrial battery chargers market.

In the light of significant efforts taken by European governments in the popularization and adoption of sustainable energy alternatives, it is highly likely that the demand for industrial battery chargers will be notable in Europe, which currently accounts for just-under a fourth of the global demand.

Although European countries leading the way for the increasing usage of renewable energy, developing countries are expected to emerge as game changers, looking at the rapidly improving emission patterns.

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Vendor Insights: Key Companies to Remain Focused on Innovation in Terms of Efficiency

The industrial battery chargers market has been cited as a fairly consolidated competition landscape. In addition to high-efficiency, easy-to-use, and easy-to-install industrial battery chargers, the prominent companies in industrial battery charger market are focusing on their capabilities to cater to diverse specifications of a wide range of operational requirements.

Moreover, high compatibility with harsh environmental conditions has emerged as a lucrative trend among leading providers of industrial battery chargers, which could potentially offer them a competitive edge over others in the industrial battery charger market.

The UK’s Battery Service Hub (BSH) has been delivering industrial batteries, industrial battery chargers, and a range of charging solutions for an extensive range of equipment such as forklift trucks, EVs, access platforms, floor cleaning machines, and others. The company is expected to maintain the focus on delivering high-performance, efficient battery charging profiles. BSH is cited as an important player in the rental battery charging solutions landscape.
The US-based EnCharge Power Systems announced the introduction of remote monitoring solutions for industrial battery charging, which allow ready remote access to real-time data.
Storage Battery Systems, LLC (SBS) recently announced the partnership with Systems Sunlight S.A., over the soon-to-be-launched battery technologies. With an increasing number of novel, sustainable battery technologies introduced in market frequently, it is highly likely that the key players will augment R&D investments for innovation of new battery charging technologies.

Some of the major companies active in industrial battery charger market have been covered in FMI’s report, including ABB Ltd., Hitachi ltd, Exide Technologies, ENERSYS, Delta Q, Gs Yuasa International Ltd., AMETEK. Inc, Sevcon, Crown Battery Manufacturing Company, Lester Electrical, AEG Power Solutions, and Kirloskar Electric Company among others.

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https://descubre.beqbe.com/plant-asset-management-market-witness-a

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Benelux Power Tools Market Is Expected To Grow At A Healthy CAGR Of 3.9 Percent By 2026

With 10 million units expected to be shipped in 2016, up from 9.8 million units in 2015 and a y-o-y growth rate of 2.5 percent, power tools are still in high demand in the Benelux region. In 2015, the Adoption of Benelux Power Tools Market was estimated to be worth US$ 826.4 million, and in 2016, it is anticipated to be worth US$ 859.1 million.

Power tool sales growth in Benelux is influenced by a number of macroeconomic and non-economic variables, including rising housing sector investments in Benelux, rising automotive sales, rising consumer confidence index, emergence of long-lasting and reasonably priced multi-functional power tools, and expanding online retail sales.

On the basis of mode of operation, electric power tools will continue to remain the highest selling power tools, with 5.8 million units expected to be shipped in 2016, up from 5.7 million units in 2015. On the other hand, pneumatic power tools, also known as air tools, will continue to gain popularity among DIYers, owing to their compact size and relatively lower price.

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Demand for power tools will continue to be strong from the construction sector, as Benelux’s housing sector witnesses another year of relative stability. The real estate sector in Benelux wasn’t as severely impacted by the crash of 2007-08, as it did not participate in the ‘bubble’ preceding the crash.

Growth of the Benelux power tools market will also be supported by rising adoption in the Union’s automotive sector. While availability of durable and cost-effective power tools will drive overall demand, the growing DIY trend will ramp up adoption in the consumer segment. Increasing penetration of Chinese products is also expected to play an important role in driving sales in 2016 and beyond.

Netherlands will continue to be the largest market for power tools in Benelux, with total volume expected to reach 5.5 million units in 2016. The Netherlands power tools market is expected to be worth US$ 470.0 million by 2016-end, witnessing a growth rate of 3.7% in 2016 over 2015. Belgium, the second largest market for power tools in Benelux, will witness total sales worth 359.2 million in 2016.

On the basis of end use, the Benelux power tools market has been segmented into industrial power tools and household power tools. In terms of value, the industrial power tools segment has been projected to expand at a CAGR of 4.4% over the forecast period to account for 57.9% value share by 2026 end.

By mode of operation, the market has been segmented into electric power tools, pneumatic power tools and other power tools (including IC engine, steam driven and natural power source driven power tools). The electric power tools segment is expected to create significant growth opportunity over the forecast period.

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Adoption of Benelux Power Tools Market Key Players:

Robert Bosch GmbH, Atlas Copco AB, and Makita Corporation are the key global players in the Benelux power tools market. The key strategy of these players is enhancing product portfolio by manufacturing convenient, high-performance and advanced technology equipment. Metabowerke GmbH, FERM B.V., and Einhell Germany AG are prominent local players in the Benelux power tools market. Strong distribution networks and low cost are the go-to strategies of these players to compete with global players operating in Benelux power tools market.

Adoption of Benelux Power Tools Market Key Segment

By End Use

Industrial Power Tools
Household Power Tools

By Mode of Operation

Electric
Pneumatic
Others

By Country

Belgium
Netherlands
Luxembourg

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Capital Projects are Providing Stimulus to Variable Frequency Drive Manufacturers-FMI

In recent years, the variable frequency drives market (VFD) has received significant stimulus, growing on the back of heightened opportunities regarding infrastructure development across emerging regions, spurring demand for heating and ventilation systems. VFD development is presently transitioning towards offering industry specific solutions with the objective of minimizing costs and reducing operational downtime, prompting a slew of innovations on part of manufacturers.

Frequent capital investments are primary factors in uplifting economic growth as they aid in urbanization. According to Oxford Economics’ Global Infrastructure Outlook, infrastructure investment is likely to reach US$ 94 trillion by 2040, involving per capita annual expenditure worth US$ 3.7 trillion. Out of the total global investment requirements, Asia accounts for 54% of all needs. Hence, manufacturers are expected to increase inroads across the region.

Such burgeoning capital infrastructure projects have heightened energy costs, as power and electricity consumption witness a sharp increase. This has led to the development of equipment designed to reduce such heavy energy consumption, paving the way for enhanced VFD sales across the landscape. Extensive applications are witnessed across the HVAC sector.

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In addition, variable frequency drives are also finding applications across oil & gas and mining and irrigation sectors as well. Production, distribution and applications in the former rely heavily on motor-driven pumps and pumping systems, whose speeds VFDs help regulate. Likewise, these also assist in providing high speed and control across excavators and conveyors in the latter.

The global automotive industry has made prolific advances in the recent past. Emerging as a multibillion-dollar industry, the autonomous market is characterized by the emergence of a plethora of start-up investments. Consequently, the adoption of high-end HVAC systems and pumps has registered an impressive uptick. According to FMI’s projections, the aforementioned segments collectively accounted for nearly US$ 10 Bn as of 2019.

Prolific growth opportunities exist in the Chinese market, owing to an ever mushrooming automotive industry. Future Market Insights estimates the economic giant to produce 4.5 million variable frequency drives by 2021-end, as production cycles revert to normalcy in the aftermath of the coronavirus crisis. Hence, manufacturers are introducing a slew of technological innovations to tap this ever-expanding opportunity, thus generating powerful revenue ecosystems across the forecast period.

Key Takeaways of Variable Frequency Drives Market Study:

AC drives adoption surging in popularity by drive type; set to acquire 260 BPS by 2031-end U.S. and Germany to emerge as highly lucrative markets, owing to growing EV sales Growing concerns over excessive power consumption compelling automotive manufacturers to invest in low-voltage VFDs Regenerative applications to find growing applications, reaching nearly US$ 15 Bn by 2021-end Pumps and HVAC systems to collectively expand at a value CAGR worth 13% from 2021-2031

“Rapidly expanding infrastructure for capital projects are attracting frequent capital investments, attributed to the increasing scale of urbanization. Hence, automotive sales are rising, leading to widening revenue pools for VFD manufacturers,” says the FMI analyst.

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Competitive Landscape

The variable frequency drives market is a highly competitive market, with a sizeable presence of both global as well as domestic players. However, key players account for nearly half of the market share. It is characterized by large supplier base and strong B2B networks.

The market has robust partnerships throughout the value chain. Suppliers of variable frequency drives adopt acquisition and regional expansion strategies to establish a foothold. Brand consciousness and aggressive marketing make it challenging for new entrants in the variable frequency drives market.

Variable frequency drives Market : Segmentation

Drive Type

AC Drive
DC Drive

Voltage Range

Low Voltage
High Voltage

Application Type

Standard
Regenerative

End-use Application

Pumps
Fan
Compressor
Conveyor
HVAC
Others

End-use Industry

Oil & Gas
Food processing
Automotive
Mining & Metals
Pulp & Paper
Others

Region

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

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