Market Research Blog

The turbofan engines market is expected to be worth $1.05 billion in 2022. The industry increased by 6.3% year on year over the last year. Turbofan Engines sales are expected to grow at a CAGR of 17.2% from 2022 to 2032, reaching a value of US$ 5.1 billion by the end of 2032.

Demand for turbofan engines in the commercial segment to remain strong, while demand for turbofan engines in wide-body aircraft to grow at a rapid pace during the assessment period. The turbofan engines market to be dominated by the North American region.

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Keys To success for Turbofan Engine Market Growth

With rapid urbanisation and global passenger traffic, an accelerated and more comfy mode of transportation is obligated. To encounter this demand, the airline business is growing at a rapid pace. A rapid way to transport goods is also required by the burgeoning transportation sector.

The most effectual mode of transportation is air transport. As the airline industry expands, so does the demand for new innovations and fuel-efficient engines. This factor is believed to have a promising potential the turbofan engines market during the forecast period.

Demand for next-generation engines and technological improvements are intensifying in the military sector, which is expected to increase market pressure for turbofan engines over the forecast period.

Pivotal Roadblocks to the Turbofan Engine Market Economic Boom

Notwithstanding the numerous benefits, turbofan engines have some downfalls, such as inefficiency at very higher elevations and massive increase areas, which are expected to thwart the turbofan engines market growth over the forecast period. When compared to other aircraft engine types, turbofan engines have slightly elevated manufacturing costs.

North America

North America is anticipated to be the lucrative turbofan engines market, owing to the ever-increasing demand for new technologies in the airline business as well as the continued growth for efficient engines. Over the forecast period, the region’s turbofan engine market is expected to grow remarkably.

The United States is North America’s largest turbofan engines market, followed by Canada. The United States is projected to continue to expand in the coming decade, thanks to an increase in orders and deliveries of turbofan engines in the commercial, military, and general aviation sectors.

Asia Pacific

Due to emerging economies such as China, India, and Japan, the Asia Pacific turbofan engines market is expected to grow significantly. The growing population and air traffic are expected to drive up demand for aircraft with fuel-efficient engines.

The growing number of airports in the region, as well as the demand for new aircraft with better and more efficient engines for transportation and travel, are expected to drive up demand for turbofan engines.

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Key Takeaways

• The turbofan engines market increased by 6.3% year on year over the last year.
• The APAC turbofan engines market is expected to exceed US$ 16 billion by 2032, growing at a 5.3% CAGR over the forecast period.
• Wide-body aircraft are expected to be in high demand in Asia-Pacific markets due to their ability to carry large loads over long distances.
• The commercial segment is expected to be the largest and fastest-growing segment, owing to rising demand for technologically advanced engines to replace conventional engines.

Competitive Landscape

The turbofan engines market is much consolidated, with a few companies influencing a substantial portion of total output. GE Aviation, a division of General Electric Company, is a major manufacturer of turboprop and jet engines. The company is expected to dominate the global market due to its superior product technology and diverse product portfolio.

Rolls Royce Holdings Plc., Safran SA, CFM International SA, and others are also market leaders. The key strategy implemented by the turbofan engines market’s major players is the introduction and modernization of advanced technology in order to offer a more diverse product portfolio to their customers.

Key Segments Covered in the Turbofan Engines Industry Survey

Turbofan Engines Market by Type:

• Wide Body Aircrafts
• Narrow Body Aircrafts

Turbofan Engines Market by End Use:

• Turbofan Engines for Commercial Aircrafts
• Turbofan Engines for Transportation Aircrafts
• Turbofan Engines for Business Jets
• Turbofan Engines for Military Aircrafts
• Turbofan Engines for Transport Aircrafts
• Turbofan Engines for Fighter Jets

Turbofan Engines Market by Region:

• North America Turbofan Engines Market
• Latin America Turbofan Engines Market
• Western Europe Turbofan Engines Market
• Eastern Europe
• APEJ Turbofan Engines Market
• Japan Turbofan Engines Market
• Middle East & Africa Turbofan Engines Market

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Recent Development

• Saudi Arabian Airlines has awarded CFM International, a joint venture of General Electric and Safran Aircraft Engines, a contract for CFM International LEAP-1A engines to power its new fleet of 35 Airbus A321neo and 30 Airbus A320neo planes.
• The US Air Force awarded GE Aviation a USD 1.58 billion contract to supply F110 engines for the Boeing F-15EX Eagle II in October 2021. As a result of this decision, GE to be the sole propulsion source for the US Air Force’s entire planned F-15EX fleet.

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

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In accordance with a new FMI report, the automotive oil strainer market is estimated to reach US$ 215.9 million in 2022 and grow at a CAGR of 8.4% from 2022 to 2032. In 2032, the automotive oil strainer market is predicted to be worth US$ 657.1 million.

The rapid expansion of the automotive industry around the world is anticipated to boost the automotive oil strainer market. Rising fuel economy regulations and increasing vehicle emission stringency are predicted to stimulate sales of automotive oil strainers in the coming years.

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Intense Competition for Safe Transportation Services May Compel the Expansion of the Automobile Oil Strainer Market

Rising demand for passenger cars, endorsed by the entry of various international automobile manufacturers into largely untapped markets, as well as heavy investments in the development of luxurious and safe transportation systems, are expected to spur market growth. Another important factor that is likely to strengthen the market is increased awareness about the importance of maintaining a healthy air cabin quality.

Due to the technological developments in filter media types, the replacement cycle of automotive oil strainers is points higher. The urgent need to boost oil quality by separating the oil from contaminants to keep it safe and pure is also expected to propel the market during the period of assessment.

Intensity of Rivalry among Top Names and IAM Companies to Stymie the Growth of the Automotive Oil Strainer Market

The automotive transmission oil filter market is made up of various Original Equipment Suppliers (OES) and Independent Aftermarket Suppliers (IAS) (IAM). Several IAM companies that specialize in manufacturing automotive oil strainers are scheduled to compete vehemently with industry giants.

It is likely to occur since IAM players can satisfy customer needs by delivering higher-quality products at a lower cost than Tier 1 companies. The foregoing factors are predicted to push up demand for automotive oil strainers in the years ahead.

North America

According to FMI, North America is projected to stay on top by accumulating the largest automotive oil strainer market share during the assessment period. The increased implementation of stringent regulations as a result of rising awareness about the environmental impact of air pollutants is expected to boost the regional market.

Asia Pacific

A large number of automotive component manufacturers in developing countries is expected to boost sales of automotive oil strainers in the Asia Pacific, according to FMI. Rising demand for synthetic automotive oil strainers due to their high adaptability and reliability to any type of oil is predicted to propel the local market. Furthermore, the rapid expansion of India’s automotive industry is expected to bode well for the automotive transmission oil filter market.

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Key Takeaways

• In the year 2029, the automotive transmission oil filter market is expected to be worth US$ 379.71 million.
• In the year 2025, the automotive transmission oil filter market is expected to reach US$ 275 million.
• The top five players account for more than half of the automotive transmission oil filter market. MAHALE GmbH, AC Delco, Donaldson Company, Tenneco Inc., and Toyota are among them.
• North America controls more than 40% of the automotive transmission oil filter market and may maintain its dominance in the future.
• Europe’s automotive transmission oil filter market is expected to grow at a 3% annual rate.
• Japan and South Korea are two of the top five countries propelling the automotive transmission oil filter market forward.

Market Competition

Triple R America, Parker Hannifin Corp., TECNECOFILTRATION, Delphi Auto Parts, Champion Laboratories, Inc., DaikyoNishikawa Corporation, VANTECH CO., LTD., ELOFIC INDUSTRIES LIMITED, ALCO Filters Ltd., Lucas Industries Ltd., and Anhui Meiruier Filter Co. Ltd. are among the key players in the automotive oil strainer market.

The automotive transmission oil filter market is fragmented, with several regional and international companies present. To increase their penetration in highly profitable areas, the majority of the leading players are turning to partnerships with small-scale manufacturers, new product launches, constructive collaborations, and product design changes.

Key Segments Profiled in the Automotive Oil Strainer Industry Survey

By Vehicle Type:

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

By Cover Type:

• Floating Type Automotive Oil Strainer
• Fixed Type Automotive Oil Strainer

By Sales Channel:

• OEMs
• Aftermarket

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• APEJ
• Japan
• Middle East and Africa

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Recent Development

• Agreement

Parker Hannifin Corporation, a global leader in motion and control technologies, announced that it has reached an agreement on the terms of a recommended cash acquisition of Meggitt, a global leader in aerospace and defence motion and control technologies.

• Introduction

Delphi Technologies introduces a new global steering and suspension offering for the Tesla Model S, paving the way for a new repair opportunity.

• Partnership

Alpine F1 Team is pleased to announce a new partnership with BorgWarner, which expands on the company’s long-standing relationship with the Renault Group. BorgWarner purchased Delphi Technologies, and the two companies collaborated on the development of turbochargers and other propulsion technologies, including the current generation of Alpine Cars power units.

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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.

Contact:

Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
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In 2032, the market for automotive license plate lights is projected to be worth nearly US$ 854.1 Million. Thus according to FMI, the business for Automotive license plate lights is anticipated to develop significantly at an impressive CAGR of 9.7% during the projected period, reaching US$ 421.8 Million in 2022.

One of the main factors anticipated to increase demand for vehicle license plate illumination in the near future is the rise in the number of strict government regulations aimed at preventing vehicle theft and traffic accidents worldwide. Increased sales and manufacturing of two-wheelers, commercial vehicles, and passenger automobiles are expected to benefit the industry. The growing use of OLED lamps on vehicle license plates, supported by their lower electricity consumption and lightweight design, is a growing trend that is anticipated to propel the worldwide automotive license plate lamp market.

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One crucial element predicted to support development is the quick adoption of automated number plate recognition systems by regulatory authorities due to growing worries about the theft of vehicles and robberies throughout the world. The requirement for automated toll plazas, traffic monitoring, and international border efficiency improvements are also anticipated to increase demand for Automotive license plate lights in the coming days.

Regulating organizations are enforcing strict standards in several nations to make it mandatory for cars to have number plate lights. Similar governmental regulations being introduced throughout the world are anticipated to bode well for the business.

Key Takeaways from Automotive License Plate Light Market Study

• In absolute terms, the overall growth of the global automotive trailer drawbar market is estimated to be around US$ 300 Million over the forecast years through 2032, experiencing an astounding CAGR of 9.3%.
• According to FMI, China will soon command the greatest market share for Automotive license plate lights in the Asia Pacific region. The nation is probably responsible for more than a quarter of all car sales worldwide, increasing the demand for cutting-edge auto license plate lights.

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Competitive Landscape for the Global Automotive License Plate Light Market

KOITO MANUFACTURING CO., LTD., Fiat Chrysler Automobiles, Grote, HELLA Group, GOTO PLASTIC co., ltd., ICHIKOH INDUSTRIES, LTD., and Innotec are a few of the well-known businesses operating in the worldwide vehicle license plate light market.

The majority of the top businesses on the international market are concentrating on creating cutting-edge Automotive license plate lights in order to increase their consumer base and conform to shifting regulatory requirements. In order to obtain a competitive edge in the worldwide market, several of the other major firms are also making relentless efforts to enter into joint ventures, mergers, and purchases.

Key Segments Profiled in the Automotive License Plate Light Industry Survey

By Product Type:

• Bulb
• LED

By Vehicle:

• Passenger Cars
• Compact Cars
• Mid-Size Cars
• SUVs
• Luxury Cars
• Commercial Vehicles
• Heavy Commercial Vehicles
• Light Commercial Vehicles

By Sales Channel:

• OEMs
• Aftermarket

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• APEJ
• Japan
• Middle East and Africa

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Recent Developments in the Global Automotive License Plate Light Market

All cars driving in Nepal’s Gandaki and Bagmati provinces must have imprinted number plates as of June 2022, according to a directive from the Ministry of Physical Infrastructure and Transport’s Department of Transport Management. Such initiatives are expected to bring a positive change favouring more sales of automotive license plate light in other countries.

The Chinese government is also anticipated to support automakers financially in order to boost car sales. For instance, several Chinese automakers began imitating the government in June 2022 by giving more incentives to increase automobile sales in the nation.

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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.

Contact:

Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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The global automatic vehicle washing system market size is estimated to be valued US$ 341.9 Million in 2022, with a CAGR of 13.8% from 2022 to 2032. According to FMI, the automatic vehicle washing system market is expected to reach US$ 682.5 million in 2032.

Increased consumer interest in automobile maintenance as a result of increased disposable income is expected to fuel demand for automatic vehicle washing systems in the future. One of the primary factors driving the global automatic vehicle washing systems market growth in the next years is the growing fleet of heavy vehicles used in the construction and mining industries. Another driver that is expected to propel the automatic vehicle washing systems market share is the ongoing expansion of the automotive industry, along with the growing need for convenience.

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Traditional driveway washing methods squander a large quantity of water and expose dangerous water waste to the environment. Furthermore, in areas prone to drought-like circumstances, regulatory agencies have imposed rigorous water-usage restrictions, further discouraging driveway cleaning. As a result, the sales of automatic vehicle washing system are anticipated to rise as the water that gushes out after washing is collected and either sent into sewage treatment plants or reused for washing. Automatic washing machines also allow for minimal labour deployment, lowering costs while supporting automatic vehicle washing system market expansion.

According to the Society of Indian Automobile Manufacturers (SIAM), during 2020 to 2021, roughly 2,711,457 passenger vehicles and 568,559 commercial vehicles were sold in India. The tendency is predicted to continue not only in India, but also in other areas of the world. This factor is also expected to boost sales of automatic vehicle washing system during the forecast period.

However, the cost of automatic vehicle washing systems is comparatively higher, and businesses in developing nations may be unable to purchase such systems. Furthermore, production volume from end users is quite low in these nations since they choose manual car washing services over automated systems. These factors are anticipated to hamper the automatic vehicle washing system market growth.

Key Takeaways from Automatic Vehicle Washing System Market

• The rising use of professional vehicle wash services in the United States and Canada is driving the growth of the North America automatic vehicle washing system market. Aside from that, increased consumer leisure and comfort spending is expected to bode good for the regional market.
• During the forecast period, Asia Pacific is expected to maintain its second-place position by accounting for a sizable proportion of the automatic vehicle washing system market.
• The growing number of car dealers and automotive repair shops in emerging economies such as India and China are expected to fuel the regional industry.
• The touchless in-bay automated vehicle washing system segment dominated the global automatic vehicle washing system market by system.
• On the basis of end users, the franchised service station sector dominated the automatic vehicle washing system.
• Passenger cars held the highest percentage of the global automatic vehicle washing system market in 2022, on the basis of application.

“The automatic vehicle washing system market is seeing a steady transformation, with consumers increasingly preferring convenience and automation, driving demand for express exterior and flex-service vehicle wash systems.” –  FMI Analyst

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Competition Landscape in the Automatic Vehicle Washing System Market 

Key players in the automatic vehicle washing system market includes Ryco Solutions, Inc., Coleman Hanna, Autec, Inc., Wash Tec Group, Aquarama S.r.l., Sonny’s Enterprises LLC, PDQ Manufacturing, Inc., and Otto Christ AG.

The global automatic vehicle washing system market market is very competitive, with both domestic and international enterprises present. To improve their product portfolio globally, the majority of significant players are progressively focusing on methods such as the creation of unique manufacturing facilities, acquisitions, and mergers.

Meanwhile, some of the other corporations are opening new service centres in underserved areas to increase their geographic footprint and generate a large market revenue share.

Key Segments Profiled in the Automatic Vehicle Washing System Industry Survey

By System Type:

• Tunnel Type Automatic Vehicle Washing System
• Rollovers Type Automatic Vehicle Washing System
• Touchless In-Bay Automatic Vehicle Washing System

By End User:

• Independent
• Franchised Service Station
• Authorized Car Dealers

By Application:

• Automotive
• Passenger Cars
• Commercial Vehicle (Bus, Trucks etc.)
• Railway
• Aerospace
• Off Highway (Construction, Mining Equipment)

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• APEJ
• Japan
• Middle East and Africa

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Recent Developments in the Automatic Vehicle Washing System Market:

• Wilcomatic Wash Systems, a car washing operation specialist, was bought by Westbridge Capital in 2019 to help its global expansion. The company offers a comprehensive range of goods and services for a variety of industries, has over 2,000 car wash installations globally, and serves over 8 million vehicles per year.
• BlueWave Express Car Wash was placed 14 in the 2020 Top 50 US Conveyor Chain List by Professional Carwashing and Detailing magazine. The company provides several facilities, such as a free vacuum service and a low-cost wash fee, which helps it stand out in the market.

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

Contact:

Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
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The global automotive drawer slides market is expected to generate US$ 6 Bn in sales in 2022, rising to US$ 9.47 Bn by the end of 2032. During the projected period, the automotive drawer slides market is expected to grow at a moderate CAGR of 5.2%.

With the increased demand for public transportation and vehicle usage, the demand for emergency vehicle equipment, luggage compartment, car batteries, and electronic equipment has fuelled the demand for heavy duty slides.  Furthermore, the same is necessary to hoist heavy loads, which has simultaneously propelled the automotive drawer slides market share, boosting demand for automotive drawer slides around the world.

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Due to the increased demand for quick, responsive linear movement drawer slides and access solutions for high weight manufacturers are focusing more on custom-built equipment, which has led to an increase in the sales of automotive drawer slides.

Novel manufacturing technologies have enabled manufacturers to design car drawer slides with ease and high-quality advanced goods while preserving reliability and therefore increasing the automotive drawer slides market size. Furthermore, the demand for automotive drawer slides has been boosted by the usage of modern products for the automotive drawer slides, which has witnessed a significant reduction in failure.

Demand for automotive drawer slides is increasing as the number of incidents and accidents increases, as does the demand for rescue vehicles that employ drawer slides to store their equipment. Furthermore, automotive drawer slides are being used in a variety of industries, including logistics and transportation, which is driving up sales of automotive drawer slides.

Automotive drawer slides vendors are actively segmenting their product line based on length, extension, and load requirements. The market’s future growth possibilities include growing industrial and logistical business, which is likely to drive the automotive drawer slides market growth during the forecast period.

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Key Takeaways from Automotive Drawer Slides Market

• North America holds the largest share of automotive drawer slides market, owing to its growing use in logistics, storage facilities, and other operations, resulting in increased demand for automobile drawer slides in developed countries such as Canada and the United States.
• Europe is estimated to record the highest growth potential in the automotive drawer slides market owing to the matured economy and entry of key manufacturers with high spending potential on innovative vehicle customization.
• The shifting demographics and rise in disposable income in the region are also increasing the desire for more automotive vehicles, which may contribute to an increase in demand for automobile drawer slides.
• China, India, and Brazil will play a vital role in driving the growth of the automobile drawer slides market.
• Growing economies such as India and China, where vehicle sales and efficiency are increasing, will play an important role in the region’s automotive drawer slides market share.

“The growing use of drawer guides and slides materials in a variety of automobiles is moving the automotive drawer slides market forward. The rise in demand for vehicle customisation is a key trend that is driving the market forward.” –  FMI Analyst

Competition Landscape in the Automotive Drawer Slides Market 

Innovative manufacturing methods have enabled manufacturers to design automotive drawer slides with ease and high-quality modern products while retaining reliability and therefore increasing their automotive drawer slides market share.

Furthermore, the automotive drawer slides market share has been boosted by the usage of modern goods for the automotive drawer slides, which has witnessed a significant reduction in failure.

Key players in the Automotive Drawer Slides Market includes Accuride International Inc, Jet Press Limited, Jonathan Engineered Solutions, Tiger Sliding, Monroe, Fulterer, Rockler Companies Inc, Inter IKER Systema B.V. King Slide Works Co. Ltd, and Knape & Vogt Manufacturing Company.

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Segmentation: Automotive Drawer Slides Market

By Type:

• Aluminum Automotive Drawer Slide
• Steel Automotive Drawer Slide
• Stainless Steel Automotive Drawer Slide

By Application:

• Fire Truck
• Ambulance
• Armored Security Vehicle
• Others

By Region:

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

Recent Developments in the Automotive Drawer Slides Market:

• Accuride International Inc has been in business for 60 years and has invented their range of automobile drawer slides and slide solutions, fueling automotive drawer slide sales.
• Jet press limited has unveiled its new soft-closing ball bearing drawer slides, ball bearing drawer slides, bottom fix drawer runners, and concealed runners. This increases market competition and drives automotive drawer slide sales.

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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.

Contact:

Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Between 2022 and 2030, the worldwide temperature controlled packaging solutions market is expected to grow at a spectacular CAGR of 8.1 percent. By 2030, it is expected to be worth $23.2 billion. The market for temperature-controlled packaging solutions is likely to continue to grow in the coming years.

Through 2030, the market is expected to grow at an annual rate of 8.1 percent, reaching US$ 23.2 billion by the end of the forecast period. Increased sales of insulated containers result from increased frozen food/fruit consumption, enhancing income for companies in the worldwide temperature controlled packaging solutions market.

Key Takeaways of Temperature Controlled Packaging Solutions Market Study

Food & Beverages industry holds a majority of the market share in the global temperature controlled packaging solutions market, closely followed by the healthcare industry. The high demand from this industry is mainly driven by the rising consumption of perishable food products, which require insulated containers/bins coupled with a refrigerant for proper transportation.

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The chilled segment is projected to retain its prominent position and account for nearly 43% of the global temperature controlled packaging solutions market by 2030. This is attributable to the growing need for efficient temperature controlled shipping solutions for pharmaceuticals as well as food products.

Passive temperature controlled packaging solutions are largely preferred over their active counterparts, as passive solutions are relatively economical, easy to handle, and dispose.

The insulated containers segment has been identified as the most lucrative segment in the global temperature controlled packaging solutions market. This can primarily be attributed to the increasing consumption of meat, fish, seafood, and other perishable products, globally.

South Asia and East Asia are estimated to cumulatively hold more than 30% of the share in the global temperature controlled packaging solutions market by 2030. The demand for insulated shippers for cold chain packaging is likely to remain moderate in the region, while that for packaging of perishable foods is likely to remain strong in the foreseeable future.

Leading pharmaceutical manufacturers demand effective packaging formats for biologics and specialty drugs, as such products are extremely temperature-sensitive and any compromise in handling them can significantly affect product efficiency. This is expected to present remunerative growth potential for all participants of the supply chain in the global temperature controlled packaging solutions market.

Temperature Controlled Packaging Solutions Market Landscape

• Sonoco Products Company
• Pelican BioThermal LLC
• Snyder Industries Inc.
• GEBHARDT Logistic Solutions GmbH
• ACH Foam Technologies

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These companies are also introducing rental programs to provide temperature controlled packaging solutions at a lower cost as compared to their competitors. Various food and pharma companies opt for leasing or renting temperature controlled shippers/containers as per their requirements.

This is profitable for the manufacturers of temperature controlled packaging solutions, as shipper/container manufacturers achieve reduced cost of ownership and increased return on investment, hence higher profits.

Key Segments Covered In Temperature Controlled Packaging Solutions Industry Research

By System Type :

• Active
• Passive

By Product Type :

• Insulated Shippers
  • Panels & Envelopes
  • EPS Shippers
  • PUR Shippers
  • VIP Shippers
• Insulated Containers
  • Chest Style
  • Upright Style
• Others

By Application :

• Frozen
• Chilled
• Ambient

By End-use :

• Healthcare
• Food & Beverages
• Others

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By Region :

• North America Temperature Controlled Packaging Solutions Market
• Latin America Temperature Controlled Packaging Solutions Market
• Europe Temperature Controlled Packaging Solutions Market
• East Asia Temperature Controlled Packaging Solutions Market
• South Asia Temperature Controlled Packaging Solutions Market
• Oceania Temperature Controlled Packaging Solutions Market
• Middle East & Africa (MEA) Temperature Controlled Packaging Solutions Market

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The North America fresh meat packaging market is expected to grow the market valuation of US$ 788 million in 2021. The growth can be attributed to availability of customization in clear meat packaging and high demand for convenient packaging solutions among urban population. Future Market Insights (FMI) predicts that fresh meat packaging market sales will surpass 365,800 tons in North America by the end of 2021.

Competitive Landscape

Future Market Insights in its latest market analysis discusses about the key trends shaping the fresh meat packaging market and highlights the strategies employed by market players to strengthen their market position. Market players are emphasizing on expanding their product portfolio to reach wider customer base. They are also inclined towards forming alliance and strategic merger and acquisition with other players.

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For instance, in April 2021, Coveris Holdings S.A. completed the acquisition of a profitable and stable business Initial Packaging Ltd which specialized in the production of specialty bags to focus on converted high end packaging solutions

At film convertor level

• Bemis Company, Inc.,
• Winpak Ltd.,
• Sealed Air Corp.,
• Berry Plastic Group, Inc.,
• Coveris Holdings S.A.

At packaging equipment manufacturers level

• Multivac Sepp Haggenmüller GmbH & Co.KG
• Robert Reiser & Co
• Harpak-ULMA Packaging, LLC
• ALKAR-RapidPak, Inc.
• Sealpac International BV.

At meat producer level

• Tyson Foods, Inc.
• JBS SA ADR
• Cargill Meat Solutions Corporation
• National Beef Packing Company, LLC.
• Hormel Foods Corporation

At the retailer level

• Wal-Mart Stores, Inc.
• The Kroger Co.
• Costco Wholesale Corporation
• Whole Foods Market IP. L.P.
• Wegmans Food Markets Inc.

Competition in the North America market for fresh meat packaging is expected soar. FMI however forecasts Berry Global Group Inc., Amcor Plc, Sealed Air Corp., Bolloré Group, and Winpak Ltd. to remain dominant, accounting for nearly 15% to 20% of overall sales registered in 2021.

Market players are looking towards integrating recycled material in fresh meat packaging to replace the packaging solutions containing polystyrene foam tray and plastic film.

Growing consumer awareness and concern for non-biodegradable plastic has pushed market payers towards producing bio-plastics and molded fiber materials in compliance with performance requirements and standards set in packaging to keep the meat fresh for consumption.

Increasing consumption of animal meat especially poultry, pork, and beef in U.S. and Canada will boost the demand for fresh meat packaging solutions during the forecast period. Rapid urbanization and improved standard of living are the key factors directly influencing the consumption of animal products in these countries.

More than 354 million chickens were slaughtered in federally inspected slaughter houses in 2021 in Canada, according to Agriculture and Agri-Food Canada, Animal Industry Division.

Increasing slaughtering activities and establishment of retail chains and supermarkets has made animal meat readily available across North America. Rising demand for sustainable packaging which keeps meat fresh and offers stable shelf life has accelerated the sales of high barrier fresh meat packaging products.

COVID-19 pandemic hindered the fresh meat packaging production due to lack of raw material used in manufacturing and disruption of supply chain. As majority of raw materials are imported, lockdown and closure of trading routes slowed the production rate.

Market is expected to bounce back post pandemic. Investment in research and development of environment friendly packaging solution will boost the market growth.

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Key Takeaways from FMI’s Fresh Meat Packaging Market Study

• Ethylene Vinyl Alcohol (EVOH) material segment is expected to grow at more than 4% CAGR owing to its eco-friendly nature and high recyclability.
• Modified atmosphere packaging technology is predicted to expand at more than 2.6% CAGR owing to its superior aesthetics and improved shelf life.
• 7-layer segment will generate the highest revenue followed by 5-layer segment as they offer extended shelf life, protects meat from bacteria like salmonella.
• U.S. will account for more than 80% share of the North America market backed by increasing consumption and export of poultry and beef and presence of modern processing infrastructure in the country.

“Rising popularity of fresh processed meat products like hot dogs and rapid expansion of quick service restaurant chains and fast food joints like McDonalds will boost the demand for fresh meat packaging in North America,” says the FMI analyst.

Key Segments Covered in Fresh meat packaging Market Study:

By Packaging Format:

• Modified Atmospheric Packaging
• Vacuum Skin Packaging
• Verteroplasty Packaging
• Others

By Material Type:

• Polyethylene
• Poly vinyl chloride
• Bi-axially oriented polypropylene
• Polyamide
• Ethylene-vinyl alcohol copolymer
• Polypropylene
• Others

By Layer Type:

• Monolayer
• 3-layer
• 5-layer
• 7-layer
• 9-layer

By Meat Type:

• Beef
• Pork
• Poultry
• Others

Key Regions/Countries Covered:

• North America
  • U.S.
  • Canada

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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.

Contact:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
LinkedIn| Twitter| Blogs