Market Research Blog

The Oil-Filled Transformer Market is experiencing rapid expansion driven by a confluence of factors, including the global trends of urbanization, modernization, population growth, and fast-paced infrastructural development. Additionally, the rising demand for electricity due to increasing power consumption, coupled with the growing adoption of renewable energy sources and extensive network development, is fueling the remarkable growth in this sector.

The oil-filled transformer market is expected to be valued at US$ 39.41 billion in 2023, rising to US$ 73.98 billion by 2033. During the forecast period, the market is expected to grow at a CAGR of 6.5%.

The expanding need for oil-filled transformers is being driven by urbanisation, modernisation, population growth, and fast infrastructural development. Furthermore, rising power consumption, renewable energy, and network development are propelling market growth. Furthermore, greater awareness of the importance of upgrading obsolete energy systems and implementing smart grids is boosting the use of oil-filled transformers.

Emerging economies in several developing countries and growing technical advancement are flourishing market opportunities. End-users demand power generation and distribution on a large scale are increasing the demand for oil filled transformer. Furthermore, manufacturers are expanding electricity infrastructure and refurbishing grid networks which is boosting the sales of oil filled transformer.

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Rise in Electricity Trade on International Level Uplift Market Opportunities

The growing population all around the globe is increasing the electricity demand and thereby increasing the consumption of oil filled transformers. High electricity consumption in various populated nations such as China, India, and the United States propels market opportunities. The innovation of smart grid to provide strength and reduce the load are expected to increase the adoption of oil filled transformer.

India is among the nations that produce electric power in vast quantities. The country supplies electricity to neighboring international border countries, including Sri Lanka, Bhutan, Myanmar, and Bangladesh. Similarly, several other developing & developed countries are expanding their business to acquire maximum output. Therefore, innovations in transmission, electric equipment, and switching gears drive global market growth.

Key Takeaways:

• Robust Market Growth: The global oil filled transformer market is set to expand from US$ 39.41 billion in 2023 to a projected US$ 73.98 billion by 2033.
• Renewable Energy Surge: Growing adoption of renewable energy sources is a major driver fueling the demand for oil filled transformers.
• UK Market Momentum: The United Kingdom’s oil filled transformer market is forecasted to grow at a steady CAGR of 7%.
• Strategic Industry Players: Key companies like Kitashibe Electric Co. Ltd., Elsewedy Electric, and LS Electric Co. Ltd. are leading the market.
• Modern Network Integration: Advancements in smart grid technologies are accelerating the need for efficient oil filled transformers.
• International Trade Influence: Increasing international trade is playing a crucial role in driving the market’s expansion.

Who is Winning?

The key players are playing a crucial role in the global market. These players are trying to launch advanced innovative products to satisfy consumers’ requirements. In addition, the prominent players are concerned about the environment and develop non-toxic products.

The leading players invest in the latest technologies to build advanced products and upsurge the market by acquiring maximum output. In addition, these players adopt marketing tactics, including mergers, collaborations, product launches, partnerships, and acquisitions.

Other Prominent Players in the Market are:

• General Electric
• Schneider Electric
• CG Power & Industrial Solutions Ltd
• Fuji Electric Co. Ltd
• Toshiba International Corporation
• Kitashibe Electric Co. Ltd.
• Elsewedy Electric
• LS Electric Co. Ltd.
• Lemi Trafo Transformers
• Mettz Group
• Ormazable San
• Mettz Group
• Celme s.r.l.
• Eaton
• Kirloskar Electric
• Kotsons Pvt. Ltd.
• ABB Ltd
• Bharti Heavy Electricals Ltd.
• Schneider Electric SE
• Jinan International USA Ltd.
• Siemens AG

Recent Developments in the Market:

• In Jan 2019, Hammond Power Solutions launched a three-phase transformer for industrial use to prevent harsh environments and ingress of moisture.
• In July 2018, ABB Ltd., an automation and electrification company, acquired GE Industries for US$ 2.6 billion. This acquisition expands ABB’s position worldwide.

Oil Filled Transformer Market by Category

By Core:

• Berry
• Closed
• Shell

By Winding:

• w Auto-transformer
• T o Winding

By Product Type:

• Instrument Transformer
• Distribution Transformer
• Power Transformer
• Others

By Modes of Cooling:

• Oil Natural Air Natural
• Oil Natural Air Forced
• Oil Natural Water Forced

By Substation Connectivity:

• Transmission
• Distribution

By Rating:

• < 5 MVA
• > 5 MVA to < 10 MVA
• > 10 MVA

By Mounting:

• Pad
• Pole
• Foundation
• Others

By Application:

• Utility
• Residential
• Commercial & Industrial

By Region:

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

About Future Market Insights (FMI)

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

Contact Us
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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According to Future Market Insights, global screw conveyor sales are expected to reach around US$ 884.2 million in 2022. Over the forecast period 2022 to 2032, the overall market size is expected to grow at a 4.8% CAGR, surpassing US$ 1,416.3 million by the end of 2032.

The increasing use of screw conveyors in various industries such as food and beverage, pharmaceutical, and mining and metallurgy is driving growth in the global screw conveyor market. Screw conveyors are pieces of equipment that are used to transport or move bulk materials from one stage of a process to another. Adoption of these machines has significantly increased overall productivity in industries. As a result, they are increasingly being used in a variety of industries.

Screw conveyors are commonly used to mix raw materials and transport material from one workstation to another in food and beverage processing plants. To ensure the safe movement of raw ingredients during the manufacturing process, food and beverage industries that use a high proportion of powdered ingredients require an automated conveying system.

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Screw conveyors are commonly employed by firms involved in the processing of food powders, raw materials, ready-to-eat foods, beverages, and dairy products. Hence, rising demand for these products will eventually elevate screw conveyor demand over the forecast period.

Similarly, increasing mining and agricultural activities, rapid growth of pharmaceutical industry, and rising export of conveying systems are expected to boost the global screw conveyor industry duirng the projection period.

Screw conveyors are widely used in the powder and raw ingredient processing industries, and the pharmaceutical industry frequently demands excipients (medicated powder formulations) for capsule or tablet formulations. Thus, expansion of pharmaceutical sector will create lucrative opportunities for screw conveyor manufacturers over the projection period.

Key Takeaways from Screw Conveyor Market Study

• During the forecast period (2022 to 2032), the screw conveyor market will expand at a CAGR of 4.8%.
• By product type, horizontal screw conveyor is estimated to account for over 44% share of the global market in 2022.
• Based on end use, the food and beverages segment will dominate the market, creating an incremental opportunity of about US$ 103.8 Mn between 2022 and 2032.
• Amid high penetration of automation, North America’s screw conveyor market is expected to expand at a CAGR of 4.5% during the assessment period.
• Screw conveyor demand in China is poised to increase at a CAGR of 5.2% from 2022 to 2032.
• Germany is anticipated to hold around 35% of market value share in Europe market over the forecast period.

“The ever-expanding end-use industries such as agriculture, mining, and so on, both in developed and emerging nations, are expected to drive the expansion of the screw conveyors market over the forecast period. Besides this, the growing usage of automated production lines across various sectors will fuel screw conveyor sales,” says a lead FMI analyst.

Who is winning?

The Screw Conveyor market is highly fragmented with the global player acquiring around 10% to 15% of the market share. Key players in this industry include Martin Sprocket & Gear, Inc., BEUMER Group GmbH & Co. KG, Flexicon Corporation, Screw Conveyor Corporation, Vecoplan AG, Conveyors, Inc., KWS Manufacturing Company Ltd., VAC-U-MAX and Others.

Find More Valuable Insights

The research report analyzes the demand for Screw Conveyors. The global Screw Conveyor market has been analyzed with the COVID-19 impact, various macroeconomic factors, market trends, and market background. The market has been analyzed based on product type, rotation capacity, end use, and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both supply-side and demand factors.

About Future Market Insights – Industrial Automation

The Industrial Automation division of Future Market Insights offers a novel approach and innovative perspective in analyzing the industrial automation market. Comprehensive coverage of capital, portable, process, construction, industrial, and special-purpose machinery across the manufacturing sector and distinctive analysis of the installed base, consumables, replacement, and USP-feature-application matrix make us a pioneering voice in the industry. We are preferred associates with established as well as budding industry stakeholders and channel partners when it comes to sustaining, growing, and identifying new revenue prospects.

Global Screw Conveyor Industry by Category

By Product Type:

• Horizontal Screw Conveyor
• Inclined Screw Conveyor
• Vertical Screw Conveyor
• Shafted Screw Conveyor
• Shaft-less Screw Conveyor

By Rotation Capacity:

• Less than 45 RPM
• 45-105 RPM
• 105-165 RPM
• Greater than 165 RPM

By End Use:

• Mining and Metallurgy
• Agriculture
• Food and Beverage
• Chemical
• Pharmaceutical
• Others

By Region:

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

About Future Market Insights (FMI)

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

Contact Us:        

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

The global polymer seals market expected to drive a promising Compound Annual Growth Rate (CAGR) of 5.1% from 2022 to 2032. The market is poised to achieve a significant milestone, aiming for an impressive USD 18.7 billion by 2032.

Polymer seals play a crucial role across diverse industries, particularly in the manufacturing of subsea equipment, turret swivel stack systems, production and exploration equipment, and transfer systems. Renowned for their exceptional ability to meet stringent requirements concerning diameter, pressure, and temperature, these seals have become indispensable components in vital applications across various sectors. Their versatility and reliability firmly establish them as integral contributors to the advancement of industrial solutions.

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Increasing defense budgets of governments are also expected in the coming years, which should generate further demand for polymer seals. For instance, the governments of India and China have been observed to increase their spending on defense in recent years, particularly for upgrading their respective air forces by investing in latest military-grade air crafts and fighter jets. Owing to the tense geopolitical climate in the region, the spending is set to rise in the near future and result in accelerating polymer seal sales.

FMI also predicts the emergence of certain market restraints from 2022 to 2032. These restraints are likely to stem from the fact that sealant production causes significant pollution. Small scale consumers are also poised to choose polymer seal substitutes due to the high expenses associated with polymer seals.

Key Takeaways from the Polymer Seals Market Study:

• By material type, the polyurethane (PU) segment is anticipated to witness considerable demand growth at 4.9% CAGR from 2022 to 2032.
• By product type, the sales of hydraulic and pneumatic seals are projected to expand at a CAGR of 5.6%.
• By region, Europe is anticipated to witness substantial growth in the polymer seals market due to lucrative markets in Germany, Italy, and the United Kingdom.
• India and China markets are anticipated to emerge as prominent polymer seals markets in Asia and register 6.9% and 6.0% CAGR, respectively.
• By end use, transportation equipment was estimated to hold a prominent volume share of 30.4% in 2022.

Who is Winning?

Key players in the Polymer Seals include Saint-Gobain, ERIKS Group, SKF AB, Precision Polymer Engineering/IDEX, Trelleborg AB, Bal Seal Engineering, Parker Hannifin Corporation, Advanced Seals & Gaskets Ltd., Greene Tweed, TRP Polymer Solutions Ltd., Specialised Polymer Engineering Ltd., SHS Dichtungen GmbH, A.W. Chesterton Company, Carco Precision Rubber Products Spa, Novotema Spa

To gain a competitive advantage in the industry, key manufacturers are developing innovative polymer seal products. Market players are also heavily investing in expansion, mergers, acquisitions, and strategic partnerships to expand their global footprints.

Global Polymer Seals Market by Category:

By Material Type:

• Polyurethane (PU)
• Acrylonitrile-butadiene-rubber (NBR)
• Fluoro-rubber (FKM)
• Polytetrafluoroethylene (PTFE)

By Product Type:

• Hydraulic and Pneumatic seals
• Rotary Seals
• Spring Energized Seals

By End Use:

• Transportation Equipment
  • Automotive and Components
  • Aircraft and Components
  • Railroad Equipment
  • Marine Transportation and Components
• Industrial Machinery and Equipment
• Electronic Apparatus and Appliances
• Healthcare
  • Medical Devices and Component Manufacturing
  • Surgical Tool manufacturing
• Oil and Gas Extraction
• Construction Infrastructure and Utilities
• MRO, Other Manufacturing, and Assembly

By Distribution Channel:

• OEM
• Aftermarket

By Region:

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

Author:

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

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

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

About Future Market Insights (FMI)

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

Contact Us:        

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

The global stationary battery storage market size is projected to reach USD 123.14 billion in 2024. The sales of stationary battery storage are expected to witness a robust CAGR of 29.0% from 2024 to 2034. The demand for stationary battery storage is anticipated to reach a valuation of USD 1,571.48 billion by 2034.

The stationary energy storage market is expected to increase significantly due to the growing need for dependable energy storage solutions. The market growth of stationary battery storage is predicted to be fueled by factors such as the increasing use of renewable energy sources, grid modernization initiatives, and the increased emphasis on energy efficiency.

The economic potential and adoption of stationary battery storage systems are increasing across several industries, including commercial, industrial, and residential, due to advancements in battery technology and falling costs. The stationary battery storage industry gains momentum due to government regulations that support renewable energy and carbon emission reduction programs.

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Issues like regulatory uncertainty and worries about battery safety and recycling must be resolved for the stationary battery storage market to flourish. The market is anticipated to thrive rapidly, providing opportunities for stationary battery storage producers.

“With the increasing need for dependable energy storage solutions, the demand for stationary battery storage keeps advancing. Technological advancements, expanding initiatives to integrate renewable energy, and grid modernization present significant opportunities for the expansion of the market.”, Says an Analyst at Future Market Insights, Inc.

Regional Outlook

Due to its ambitious renewable energy objectives, rapid industrialization, and ambitious renewable energy objectives, China leads the Asia Pacific stationary energy storage market. Growing energy storage and grid stability demand in nations like Australia and Japan propels the Asia Pacific stationary battery storage market.

The widespread adoption of renewable energy sources and electric vehicles is fueling a notable increase in fixed battery storage installations in North America. The United States leads the North American stationary battery storage market due largely to state-level renewable energy regulations and energy storage deployment incentives. Owing to strict environmental laws and aggressive renewable energy targets, Europe has become a significant stationary energy storage market. The expansion is stimulated by supportive regulations, such as subsidies and incentives, that encourage the use of energy storage.

Key Takeaways 

• The lithium-ion segment in the battery type category to grab a share of 90.5% from 2024 to 2034.
• In the energy capacity category, the 251kWh to 1MWh segment to acquire a market share of 30.6% between 2024 and 2034.
• The sales of stationary battery storage in the United States are anticipated to surge at a CAGR of 32.4% by 2024.
• Germany stationary energy storage market is likely to evolve at a CAGR of 28.8% through 2024.
• China stationary energy storage market is expected to soar at a CAGR of 33.4% until 2034.
• India stationary battery storage industry is anticipated to boost at a CAGR of 30.35% by 2024.
• Australia stationary energy storage market is envisioned to develop at a CAGR of 21.2% by 2024.

Competitive Landscape

Many prominent stationary energy storage manufacturers fight for dominance in the fiercely competitive market. The stationary energy storage vendors are strengthening their positions by concentrating on technology improvements, regional expansion, and strategic alliances. Leading stationary energy storage providers are actively involved in research and development to offer novel solutions and obtain a competitive edge in this fast-paced and shifting market.

Pivotal Stationary Battery Storage Manufacturers

•  Tesla
• Durapower Group
• Johnson Controls
• Exide Technologies
• Duracell, Inc
• BYD Company Ltd
• Toshiba Corporation
• Samsung SDI Co., Ltd
• Panasonic Corporation
• GS Yuasa International Ltd
• A123 Systems, LLC
• LG Chem Ltd.
• Furukawa Battery Co., Ltd.
• HydraRedox
• Narada Power Source Co. Ltd
• Siemens

Recent Developments

• BYD Company Ltd. declared in May 2022 that it intended to acquire six lithium-ion mines in Africa to improve its standing in the lithium-ion technology industry and provide the corporation with a significant global footprint in the stationary lithium-ion battery storage market.
• Tesla installed 1,274MWh of storage and 85MW of solar in 2021. Large-scale battery storage initiatives accounted for an extensive growth in storage installations, while household storage deployments also rose annually.

Stationary Battery Storage Industry Segmentation

By Battery Type:

• Lithium-Ion
  • Lithium Iron Phosphate
  • Nickel Manganese Cobalt
• Sodium Sulphur
• Lead Acid
• Flow Battery
• Other Batteries

By Energy Capacity:

• Up to 250Kwh
• 251kWh to 1MWh
• 1.1MWh to 10MWh
• 10.1 MWh to 20 MWh

By Application:

• Grid Services
  • Frequency Regulation
  • Flexible Ramping
  • Black Start Services
  • Energy Shifting and Capacity Deferral
  • T&D Congestion Relief
  • Capacity Firming
  • Reduced RE Curtailment
  • Reduced Reliance on Diesel Gensets
• Behind the Meter
  • Electricity Consumers
  • System Operation
  • Mini-Grids
• Off Grid

By Region:

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

About Future Market Insights (FMI)

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

Contact Us:       

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

The aseptic processing market is positioned for substantial growth, aiming to reach a noteworthy valuation of USD 158,571 million by 2033. Commencing its ascent in 2023, the market is anticipated to achieve a significant milestone, surpassing USD 83,124 million. This notable expansion is supported by a robust Compound Annual Growth Rate (CAGR) of approximately 6.7% from 2023 to 2033.

Central to this narrative of success are aseptic processing facilities, pivotal in ensuring the quality and durability of a diverse range of products. These specialized facilities serve as guardians of impeccable hygiene and product integrity, meticulously crafted to maintain environments with the highest cleanliness standards. Within these controlled environments, air quality and equipment conditions are rigorously monitored to eradicate any potential sources of microbial contamination. The term ‘aseptic’ underscores an environment completely free from harmful microorganisms, reflecting an unwavering dedication to preserving product purity and safety.

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Global Aseptic Processing Market: Driving Forces and Growth Prospects

The global aseptic processing market is experiencing robust growth, driven by the expanding food and beverage sector’s demand for dairy products and ready-to-drink beverages worldwide.

Urbanization, increasing disposable income, and the rise of new economies are key factors contributing to the anticipated growth of the global aseptic processing market during the forecast period.

The pharmaceutical industry’s rapid growth, particularly in innovative biotechnology-based injectable pharmaceuticals, is creating opportunities for the aseptic processing hardware market. Technological advancements in sterile pharmaceutical production further boost the demand for aseptic processing equipment.

Competitive Landscape:

The aseptic processing industry is marked by strong competition among key players. In 2023, a select group of companies is expected to dominate aseptic processing sales, focusing on expanding their global customer base.

Strategic collaborations and acquisitions of aseptic processing startups are being pursued to enhance research and development capabilities and increase profits.

Key Players Profiled:

• Schott AG
• Robert Bosch GmbH
• Du Pont De Nemours and Company
• Tetra Laval International S.A
• SPX FLOW, Inc.
• IMA S.p.A
• Mondi Group
• SIG Combibloc Group AG
• Amcor Limited
• GEA Group
• Elopak ASA
• Greatview Aseptic Packaging Co.
• JBT Corporation
• Sealed Air Corporation

Recent Developments:

Tetra Pak partnered with worker platform provider Poka in October 2021 to empower factory workers with knowledge to accelerate waste reduction in the food production industry.

Saputo, Inc. acquired Carolina Aseptic and Carolina Dairy in September 2021 to meet the rising demand for aseptic dairy-based nutritional products.

Nestle collaborated with SIG in May 2020 to explore environmentally friendly packaging alternatives, aligning with Nestle’s commitment to reducing plastic waste. This initiative received funding from industry partners for sustainable packaging materials research.

Key Segments in the Aseptic Processing Market:

By Type:

• Processing
• Packaging

By Application:

• Food & Beverages
• Industrial

By Material:

• Paper & Paperboard
• Plastics
• Metal
• Glass

Region:

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

Author:

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

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

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

About Future Market Insights (FMI)

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

Contact Us:        

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

According to Future Market Insights, the Latin America construction equipment market is expected to grow from US$ 8,676.6 Mn in 2022 to US$ 13,586.7 Mn by 2032, with overall sales exhibiting a CAGR of 4.6% throughout the forecast period.

Rising investments by government in developing and expanding public infrastructure is a key factor expected to drive the demand for construction equipment across Latin America during the forecast period.

Similarly, progress in the logistics and transportation industries, as well as the presence of supportive government initiatives for infrastructure development, are expected to drive the Latin American construction equipment market during the forecast period.

Furthermore, rapid growth of the residential sector due to growing population and rapid urbanization across Latin American countries like Brazil, Mexico, and Chile will boost sales of construction equipment over the next ten years.

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Manufacturers are continuously innovating to develop energy-efficient and low-emission construction equipment to expand their customer base as well as to increase their revenue share. This will bode well for the Latin America construction equipment.

Key Takeaways of Construction Equipment Market Study

• Based on equipment type, earth moving machinery segment is projected to increase at a value CAGR of 4.8% to reach around US$ 8,962.2 Mn by the end of 2032.
• In terms of end use, the industrial & institutional segment is anticipated to create an absolute dollar opportunity worth US$ 1,886.7 Mn.
• By drive type, hydraulic segment is projected to account for around 65% share by the end of the forecast period.
• Mexico is anticipated to account for 30% market share of the global Latin America construction equipment market by the end of 2032.
• Demand for construction equipment in Brazil is likely to surge at 5.4% CAGR during the forecast period.
• The overall construction equipment market in Chile is expected to grow at 5.1% CAGR through 2032.

Competitive Landscape

The Latin American construction equipment market is consolidated owing to the presence of global players across the region. Manufacturers are mainly engaged in the research and development, manufacturing, sales, and services of high-tech equipment, such as construction machinery, as well as the provision of financial services such as finance leasing. They aim to build a high-end equipment manufacturing enterprise that integrates engineering machinery, equipment, and financial services.

Some of the market’s leading players include Caterpillar Inc., Komatsu Ltd., Deere & Company, CNH Industrial N.V., Sany Heavy Industry Co., Ltd., Zoomlion Heavy Industry Science and Technology Co., Ltd., Liebherr-International AG, and KOBELCO Construction Machinery Co., Ltd.

Key Segments Covered in Latin America Construction Equipment Industry Analysis

By Equipment Type:

• Earth Moving Machinery
  • Excavator
  • Loader
  • Others
• Construction Material Handling Machinery
  • Crawler Cranes
  • Trailer Mounted Cranes
  • Truck Mounted Cranes
• Concrete and Road Construction Machinery
  • Concrete Mixer & Pavers
  • Construction Pumps
  • Articulated Dump Truck
  • Asphalt Finisher
  • Backhoe Loader
  • Road Roller
  • Others

By Drive Type:

• Hydraulic
• Electric and Hybrid

By Power Output:

• <100 HP
• 101–200 HP
• 201–400 HP
• >400 HP

By Sales Channel:

• New
• Used

By End Use:

• Residential
• Commercial
• Industrial and Institutional

By Country:

• Brazil
• Mexico
• Argentina
• Peru
• Chile
• Rest of Latin America

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

Solar Microinverter Market Size: Global demand for solar microinverter is expected to at a CAGR of 18.1% from 2022 to 2032, reaching a valuation of US$ 5,716.0 Mn by 2032.

India Power Tool Market Share: The global India power tool market is expected to reach a market valuation of USD 5672.60 Mn by 2022, accelerating with a CAGR of 8.9% by 2022-2032. The India power tool market is expected to reach a valuation of US$ 13306.41 Mn by 2032.

Industrial Hearables Market Forecast: Demand in the Industrial Hearables Market is projected to increase at a robust 7.8% CAGR between 2022 and 2026. Future Market Insights (FMI) forecasts the market value to top US$ 991.5 Mn in 2026.

Industrial Battery Chargers Market Demand: 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.

Gas Insulated Substation Market Growth: sales in the gas insulated substation market are expected to top US$ 12.5 Bn by 2021. Growth outlook remains positive as the market is assessed to register 5.7% CAGR between 2021 and 2031.

About Future Market Insights (FMI)

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

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The global hydrogen combustion engine market is poised for significant growth, with a robust Compound Annual Growth Rate (CAGR) of 9.78% forecasted throughout the projection period. With an estimated value of approximately USD 18.22 billion as of 2023, this market is on track for substantial expansion, aiming for a noteworthy valuation of USD 46.31 billion by 2033.

The surge in adoption of hydrogen combustion engines is underpinned by various factors, including governmental initiatives supporting fuel cell vehicles. These efforts encompass financial incentives, regulatory backing, and the development of hydrogen fueling infrastructure, collectively fostering an environment conducive to the widespread embrace of hydrogen-powered transportation solutions. This trajectory not only promises to reshape the automotive sector but also underscores a pivotal shift towards sustainability and environmental consciousness in the industry’s future landscape.

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Shifting Focus Drives Global Hydrogen Combustion Engine Market:

Amidst escalating crude oil costs, stringent emission norms, fuel supply security concerns, and noise pollution, Original Equipment Manufacturers (OEMs) are redirecting attention toward natural gas and hydrogen-based engines. This pivotal shift is poised to catalyze the global hydrogen combustion engine market.

Furthermore, mounting governmental and organizational backing for refueling infrastructure development worldwide is projected to fuel rapid advancement in the global hydrogen combustion engine market. The anticipated decline in fuel cell costs, propelled by innovative pricing strategies employed by fuel producers, is set to bolster market growth.

Hydrogen combustion engines are evolving steadily, leveraging diverse technical breakthroughs to deliver high power outputs while enhancing fuel efficiency. Despite the surge in demand for electric engines and a corresponding decline in traditional internal combustion engines, hydrogen combustion engines are expected to play a significant role in the automobile industry’s evolution, with potential for improvements in thermal efficiency, emissions, and electrification.

Key Insights:

• North America is predicted to lead the global hydrogen combustion engine market during the forecast period, driven by substantial R&D investments and the US government’s renewable energy initiatives.
• Europe, particularly Germany, is expected to witness rapid market growth, driven by key players actively developing hydrogen internal combustion engines to align with Europe’s climate-neutral ambitions.
• The “proton membrane exchange” technology type is projected to hold significant revenue due to its role in enhancing electrochemical process efficiency.
• The “commercial vehicles” application type, tailored to serve the middle class with affordability, quality amenities, compact sizes, and accessible financing, accounts for a notable market share and preference.

This comprehensive transformation is paving the way for hydrogen combustion engines to maintain a crucial role in the automobile industry’s evolution, offering potential enhancements in various aspects including emissions, efficiency, and electrification.

Competitive Landscape:

Owing to the existence of both international and local players, the global hydrogen combustion engine market is fragmented. A vast number of manufacturers have a significant market share in their respective regions. Organic developments, such as product releases and approvals, are often highly adopted by key companies. For instance, in April 2021, Toyota announced that it is developing a hydrogen-fueled combustion engine that will be used in sports vehicles and seeks to create a thriving and sustainable mobility society. These factors are estimated to expand the global hydrogen combustion engine market size.

Key Players Operating in the Industry:

• Volvo AB
• Toyota Motor Corporation
• Volkswagen AG
• Rolls- Royce Holding plc
• Mahindra & Mahindra Ltd.
• Renault SA
• Mitsubishi Heavy Industries
• MAN SE
• General Motor Company
• Ford Motors
• Fiat Chrysler
• Robert Bosch GmbH
• AGCO Corporation
• Caterpillar Incorporated
• Shanghai Diesel Engine Company Limited
• Rio Tinto
• Komatsu

Key Segments Profiled in the Hydrogen Combustion Engine Market Survey:

By Technology:

• Proton Membrane Exchange
• Phosphoric Acid Fuel Cell
• Others

By Application:

• Passenger Vehicle
• Commercial Vehicle
• Ships
• Others

By Region:

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

Author:

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

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

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

About Future Market Insights (FMI)

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

Contact Us:        

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