Survival Tools Market are Slated to Increase at a Healthy 7.7% CAGR Over the Forecast Period 2030

The global sales of the survival tools market are likely to soar at 7.7% CAGR through 2030. Growth will be driven by a growing sentiment toward self-protection amidst a rapidly changing environment.

In survival tools industry, which has witnessed moderate growth and expansion into the mainstream market, it is imperative for players to recognize their consumers and devise future-proof strategies (and products) to stand out among their peers.

Since January 2020, three important events have scaled up demand for survival kits – outbreak of COVID-19, bushfires in Australia, and assassination of Iranian military leader.

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Key Findings

  • Pocket tools to remain preferred among consumers
  • Manufacturers continue to use stainless steel to develop survival tools
  • Adoption of survival tools to remain prominent in hiking activities
  • Players to invest in multi-brand stores for substantial sales of survival tools
  • North America and Europe to represent most lucrative opportunities for survival tools market players

“Generation X (Xers) have been key factor driving revenue leaps for survival tools market over recent past. The demographic cohort has essentially transformed the concept of ‘survivalism’ from hobby to lifestyle. Moreover, Xers prioritize self-reliance and resilience and are attracted towards ‘survival schools’ to learn to live with basics,” says analyst at FMI.

COVID-19 Impact Survival Tools Market on

While many industries are striving to click revenue targets as several countries, globally, come to grips with the COVID-19 pandemic, the survival tools market has been booming. Despite survival tools industry was not prepared for catastrophe of this scale, sales remain unaffected by the onset of the pandemic. Demand for survival tools is increasing following COVID-19 contagion.

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Consumers are increasingly purchasing pocket tools, first aid kits, and ropes to prepare for doomsday scenarios. The COVID-19 pandemic has triggered drastic changes in consumer lifestyle. Consumers are continuously seeking ways to stock up on essentials such as medicines, survival kits, and food.

While certain regions of hard-hit countries are opening up, consumers are still facing dearth of all sorts of odds and ends. In addition, as various regions are being exposed to the second wave of COVID-19 pandemic, there are uncertainties regarding further tightening of lockdown restrictions.

The COVID-19 recession has reset the bars for how manufacturers engage with suppliers and consumers. As these trends sweep across market landscape, survival tool manufacturers must rethink existing operating models and supply chains.

Survival Tools Market – Competitive Intelligence

The global survival tools market is highly fragmented, with several players racing towards capturing leading value share. In an effort to survive the rising market competition, manufacturers are focusing on new launches and acquisitions, for instance,

  • UST has developed new camping equipment that accent excellent durability and functionality. In addition, the company has started leveraging 100% recyclable packaging to its new offerings, and will phase out conventional packaging.
  • Tender Corporation has acquired Bushwacker Backpack & Supply, which is maker of Counter Assault label of personal-defense items such as bear spray and tools for self-defense and law enforcement.

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Survival Tools Market by Category

Product:

  • Shovels
  • Ropes
  • Compasses
  • Pocket Tools
  • Hatchets
  • First Aid Kits

Material:

  • Stainless Steel
  • Aluminum
  • Wood
  • Plastic

Application:

  • Hiking Activities
  • Hunting and Fishing
  • Camping Activities
  • Other Wilderness Activities

Sales Channel:

  • Supermarkets/ Hypermarkets
  • Multi-Brand Stores
  • Online Retailers
  • Direct Sales
  • Specialty Stores

Region:

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

About FMI:

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

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Curling Irons Market is expected to drive sales at a healthy 7.1% CAGR over the assessment period 2029

The report forecasts the curling iron market to rise at above 7.1% CAGR between 2022 and 2029.the curling iron market is driven by consumer interest for achieving salon-like hairstyle at home. The launch of economical versions curling irons has been stoking their sales in the last couple of years. In its recent study, Future Market Insights (FMI) offers exclusive insights into the market, covering factors enabling its expansion.

The report also highlights potential threats and examines strategic moves adopted by the market players to gain competitive advantage. The market will significantly gain from the rising willingness among consumers to spend on ongoing fashion trends.

Social media influencers had a big role to play in spurring sales of curling irons. Videos on how to achieve celebrity or salon-like hairstyling at home and tools required to achieve them have been trending in social media ever since the YouTube revolution.

Among various hairstyling tools, curling iron brands too are riding the wave, which unfortunately was hindered by the unprecedented COVID-19 outbreak. Sluggish sales of curling irons are reported around the world as retails stores remain shuttered amid lockdown orders.

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Consumers in pandemic hit nations have been showing inclination to stay at home. Even with government easing lockdown orders, people are likely to adopt work from home as an integral part of the new normal. The lack of reasons to step out as consumers continue avoiding public gatherings and social events to contain the spread of the novel coronavirus has been adversely affecting the curling irons market.

A significantly large number of consumers are unlikely to spend on styling tools and focus primarily on essential commodities, which might hamper sales. Nonetheless, once the pandemic passes the market is expected to set on the path of recovery since consumers are unlikely to eliminate their fashion preferences any time soon.

FMI’s report offers a comprehensive overview on the curling irons market. Some of the key takeaways from the report are:

  • Portable and travel-friendly curling irons are expected to be appealing to consumers
  • To attract consumers, some of the leading brands have been launching curling irons with features such as anti-oxidant and vitamin coatings
  • Focus on innovation will increasing with time as companies look for methods of outsmarting competition. Companies primarily intend to offer multiple attributes. For instance, Revlon’s Nutrifusion line has curling irons infused with moringa and macadamia extracts to offer hair conditioning
  • Commercial applications of curling irons are expected to account for the primary share of revenue generated in the market. Demand witnessed in the household sector is forecast to rise considerably in the coming years

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Who is winning?

Competition in the global curling irons market is expected to get fiercer in the coming years. The launch of advanced products will spoil consumers with choices, while their preferences are already expected to evolve and get more dynamic. Aiding competitive trends will be the entry of several smaller brands.

Investing in innovations will therefore remain a key strategic move among companies operating in the market. Besides this, FMI projects ample focus on branding and promotional activities. These companies are expected to collaborate with social media influences to leverage their online presence.

According to FMI, some of the leading companies operating in the market are Koninklijke Philips N.V., Conair Corporation, Helen of Troy, Curlingiron.org., Spectrum Brands, Inc., Lunata Beauty, Dyson, Revlon, Inc., Andis Company, Geloon, among others.

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Curling Irons Market by Category

Product Type:

  • Curling Tongs
  • Curling Wands

Price Range:

  • Economic
  • Mid-Range
  • Premium

Material Type:

  • Ceramic
  • Plastic
  • Steel
  • Titanium
  • Iron

Type:

  • Corded
  • Cordless

Application:

  • Household
  • Commercial

Sales Channels:

  • Hypermarkets/Supermarkets
  • Convenience Stores
  • Specialty Stores
  • Discount Stores
  • Independent Small Stores
  • Multi-brand Stores
  • Online Retailers
  • Other Sales Channels

Region:

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

About FMI:

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

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Pallet Truck Market Is Expected To Grow At A 7.5% CAGR, Reaching US$ 79.8 Billion By 2032, According To FMI

The global pallet truck market is expected to reach $38.5 billion by 2022. Growing at a 7.5% CAGR, it will reach US$79.8 billion by 2032. In terms of product type, standard and weighing currently account for more than 71% of the global pallet truck market.

Because of increased retail sales, the expansion of the e-commerce and freight & logistics sectors is changing the dynamics of warehousing and material handling, resulting in increased demand for pallet trucks.

Furthermore, the adoption of electric vehicle technology in the material handling sector is expected to create opportunities for pallet truck adoption. The global pallet truck market accounts for 22% of the parent global material handling equipment market, according to FMI.

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The annual revenue from pallet trucks globally is valued to be US$ 29,734.6 Mn by the end of 2018, which is further expected to grow at a steady pace over the years. The dominating regions, i.e. North America, China and Western Europe, collectively account for the majority share in the global pallet trucks market. These regions are likely to dominate the global market over the forecast period.

Global Pallet Trucks Market Dynamics

End users are interesting manufacturers to develop pallet trucks that are more cost-efficient and offer better operability for a wider range of applications. As a result, manufacturers are developing pallet trucks incorporated with additional features, making them safer and interactive to use along with other features, such as comfort and digitalisation. The major contribution in end-use will be created by wholesale distribution, owing to the boom in the e-commerce market.

Market players are focusing on this segment and are launching new models for warehouse specific applications. As technology continues to grow, pallet trucks will continue to become more energy efficient. In addition, innovative features that are being adopted focussing on enhancing riders’ comfort and protection will become essential components of all kinds of Pallet Trucks. The low replacement rate is expected to hinder the growth of the pallet trucks market. However, the replacement of fuel-powered electric pallet trucks is likely to gain pace in the coming years.

Global Pallet Trucks Market Forecast

Based on control, Future Market Insights suggests that the electric segment will drive the overall market as end-users will shift towards opting for environment-friendly vehicles.  Based on type, silent pallet trucks will be an attractive segment for retail stores that require low noise during operations. Among end-users, the wholesale distribution segment accounts for a significant value share. In terms of volume, the manufacturing segment is expected to grow at an attractive CAGR over the forecast period.

This China pallet trucks market will dominate the global pallet trucks market, due to the huge consumer goods market in the country. The market has huge potential in China owing to the high demand for pallets from consumer goods wholesalers, manufacturers, and transportation service providers. The Western Europe pallet trucks market will be a target market for market participants looking to penetrate the electric segment. Latin America and MEA are estimated to grow with above-average CAGRs respectively over the forecast period. South Africa is expected to hold a major revenue share in the MEA Pallet Trucks market over the forecast period.

Market Segmentation

Based on control, the market is segmented into,

  • Manual Semi Electric Electric Diesel Compressed Natural Gas (CNG) Others

Based on type, the global market is segmented into,

  • Standard Quarter Silent Weighing Scissor

Based on load capacity, the market is segmented into,

  • Below 2000 KG 2000-4000 KG 4000-6000 KG Above 6000 KG

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The fourth section includes the analysis of the market based on end-use and it is segmented as,

Food & Beverage Retail Stores Wholesale Distribution Freight & Logistics Manufacturing Others

Global Pallet Trucks Market Competitive Landscape

Examples of some of the market participants in the global pallet trucks market report include Toyota Industries, KION Group, Jungheingrich AG, Goscor Lift Trucks, Hyster Company, Hyundai Heavy Industries, Liftek FZC, Linde Material Handling, Thermite & Vanhalst Group, Nido Machineries Pvt Ltd, Nilkamal Limited, Pr Industrial S.r.l., Presto Lifts Inc. and others.

About Future Market Insights (FMI)

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

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By The End Of The Assessment Period, Market For Electrical Testing Services Will Be Worth US$13.4 Billion, According To FMI

In 2021, the market for electrical testing services experienced year-over-year growth of 6.3%. Between 2021 and 2031, it is anticipated to increase at a CAGR of 7.1 percent, reaching US$ 13.4 Bn by the end of the assessment period.

By 2020, the market accounted for roughly 15 to 18% of the entire testing, inspection, and certification market. In the same year, testing services for transformers, circuit breakers, and motors and generators accounted for 50 to 55 percent of all sales in the electrical testing services market.

The surge in demand for green energy or renewable energy sources such as wind, solar, and hydro also contributes to market growth. With the surge in demand for green energy, the market for electrical testing services will see a considerable increase in demand in the near future.

Emerging economies’ electrification ambitions are offering a progressive platform for the electrical testing services market. The country’s electrical infrastructure is rapidly evolving, with the goal of providing inexpensive and reliable electricity to people all around the world. This necessitates the installation of power transmission equipment such as transformers, which will directly affect the market for electrical testing services.

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Rapid Urbanization to Help MEA Mark Highest Growth Rate in Coming Years

With greater scope for development, MEA stands out to be the fastest growing region in the global electrical testing services market. Growing industrialization and urbanization will support the growth of electrical testing services in the global market over the forecast period. Thus, emerging regions that are still going under the installation processes provide a better scope for electrical testing services market.

According to the International Energy Agency (IEA), by the end of 2030, 600 million out of the total 674 million people without the access to electricity live in Sub-Saharan Africa, a majority of them in the rural areas. Attributing to this, Africa provides immense opportunities for service providers to augment their business capabilities in the region. India stands out in terms of growth in electrification rate across the country.

According to IEA, half a billion people have gained electricity since 2000. In India, the electrification rate is nearly about 82% and with ongoing government initiatives, India will achieve universal access to electricity by 2020s. This is expected to open up new horizons for the augmentation of the electrical testing market in India.

Certification by Testing Services Bolsters Market Presence of Companies in the Global Market

Regular testing of the huge electric equipment becomes necessary as steel plants, and other heavy industrial equipment are particularly large in size and cumbersome to handle with. Replacement of these equipment on the account of failure usually takes months or sometimes years based on the original specifications, whereas regular testing helps avoiding failures. The testing services work in accordance with the testing standards laid down by reputed national and international accreditation bodies.

The testing service providers can significantly improve its service quality and leapfrog other players in market recognition if it complies and provide certifications of InterNational Electrical Testing Association (NETA), Bureau of Indian Standards (BIS), and Electrical Research & Development Association (ERDA).

Some recent trends such as growth of transmission and distribution network are also capable of bringing in revolutionary growth of global electric testing services market. The coming years will give a clear picture of many such influencers of electrification and electrical testing services market.

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Electric Testing Services Market Competitive Landscape

Companies operating in global electrical testing service market are aiming at expanding their service range for precise end use. To achieve this, they are investing increasingly in R&D activities.

Electrical testing service providers are targeting end users by providing AMC for good consumer relationships. Companies are focusing on strategic collaborations and partnerships with electrical and electronic device manufacturers to expand their service and testing network.

Global Electrical Testing Services Market by Category

By End Use:

  • Power Generation Stations
  • Transmission and Distribution Stations
  • Steel Plants
  • Major Refineries
  • Railways
  • Other Industrial (Laboratory, etc.)
  • Data Centers
  • Healthcare and Hospitality
  • Commercial Establishments

By Service Type:

  • Transformer Testing
  • Circuit Breaker Testing
  • Protection Testing
  • Battery Testing
  • Rotating Equipment Vibration Testing
  • Motors/Generator Testing
  • Thermographic Testing

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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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According To FMI, Market For Silicon Anode Batteries Would Expand At A 21.5 Percent CAGR Until 2031

According to the report, the silicon anode battery market is expected to surpass US$ 2.09 Bn by 2031. Applications of these batteries are rising steadily across industries, as a replacement anode for graphite. Applications in automotive and consumer electronics will drive silicone anode batteries sales, finds Future Market Insights (FMI) in a new study.

Its application within the automotive sector is expected to skyrocket especially in response to the increasing production of electronic vehicles.  While the automotive sector currently holds dominance, the consumer electronics sector will trail closely, exhibiting high growth. Silicon has comparatively better technical features than graphite, hence it is used as a utility negative electrode in lithium-ion batteries.

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Key Takeaways of Silicon Anode Battery Market Study

  • Silicone anode battery market will register impressive growth, exhibiting 21.5% CAGR between 2021 and 2031
  • Expansion of consumer electronics and automotive sectors will enable the U.S. account for over 70% silicon anode batteries sold in North America
  • Despite a year of negative growth, the U.K. will register 16% y-o-y growth in 2021, thanks to increasing sales of electronic vehicles
  • Germany and France will emerge as highly lucrative markets for silicon anode battery in Europe
  • Increasing consumer electronics manufacturing and demand for state-of-the-art technologies supporting expansion in China. Japan and South Korea too will continue offering lucrative opportunities

“Silicon anode manufacturers are likely to capitalize on the increasing demand for electronic vehicles. Higher focus on environmentally-friendly technologies will continue offering attractive opportunities,” said a lead analyst at FMI.

North America currently leads the market. Europe too will exhibit increasing demand, thanks to increasing focus on the production of electric vehicles. Besides this, growth exhibited in both East and South Asia will increase at an accelerated pace especially since these regions are focusing on expanding their manufacturing facilities.

Who is Winning?

Some of the leading players operating in the silicon anode battery market are Amprius Inc, Nexeon Ltd, Enevate Corp and Boston Power Inc.

The Silicon Anode Battery market is a highly competitive market dominated by regional players. These companies are striving to offer the most optimized solutions while mitigating the technical challenges.

Companies operating in the market have been focusing on capacity expansion and introducing innovative solutions. For instance, Canada-based startup TRION Energy has been focusing on addressing incumbent challenges by adding silicon to graphite using its low cost technology called SiMoGraph technology.

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About the Report:

The research report analyzes the total sales of silicon anode battery on the basis of volume (MWh) and value (US$ Mn). The market is projected on the basis of factors such as industrial growth of battery sector, developments in battery technology, end-use industry demand, global GDP growth, industry value added, and government regulations. The scope of the research report includes only new sales of silicon anode battery.

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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From 2022 To 2029, Market For Synchronised Condensers Is Anticipated To Expand At A CAGR Of 8.2%

 

As per the key findings, the global synchronous condenser market is anticipated to experience prominent growth over the forecast period, due to multiple driving factors such as the increasing number of HVDC projects in developing economies such as India, Indonesia, China, and conversion of conventional generators & cooling plants to synchronous condensers.

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Rapid inclination towards wind and solar energy, in an attempt to reduce the dependency on fossil fuels has been generating significant demand for synchronous condensers in recent years. According to FMI analysis, manufacturers are setting their sights on countries, such as China which is making great strides to increase energy production from non-fossil fuel sources.

Newer Opportunities Identified in Middle East & Africa

Regions such as North America and Europe, are likely to hold prominent market shares in terms of value. However, the South Asiam market is estimated to project lucrative growth in the global synchronous condenser market over the forecast period of 2022-2029. This growth in the region is propelled by the rapid technological advancements and growing number of HVDC projects in prominent countries such as India and Indonesia, among others.

Furthermore, the market of synchronous condensers is expected to grow predominantly in prominent countries of Middle East and Africa including Saudi Arabia, Kuwait, Qatar, Abu Dhabi, Nigeria, and U.A.E., owing to various macroeconomic factors such as growing urbanization, stable political & social backdrop, and rapid industrialization.

Increasing number of market players in the region have gained the confidence of foreign investors and grid operators to invest in the market. Moreover, refurbishment of synchronous condensers from old conventional plants and generators to new machines have added expressively positive momentum over the few past years.

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Also, rapidly growing number of HVDC projects in MEA and installment of sustainable energy plants have boosted the demand for synchronous condensers to provide stability and robust functioning of power plants. These factors have resulted in significant growth of the synchronous condenser market in the region.

Rising Number of HVDC and Related Substation Projects Creating New Opportunities for Synchronous Condenser Manufacturers

The global market of synchronous condensers has been segmented on the basis of different types of synchronous condensers, their multiple applications, and regions such as North America, Latin America, Europe, South Asia, East Asia, Oceania, Middle East and Africa.

  • By product, newly built synchronous condenser is likely to hold prominent value shares of the global synchronous condenser market. This has majorly resulted from the increasing adoption of synchronous condensers over conventional cooling gas plants and increasing installation of solar and wind farms in several countries.
  • On the basis of cooling, the water cooled segment is expected to consume majority share of the global synchronous condenser market value. This is driven by the increasing demand for water cooled synchronous condensers across several regions. Furthermore, it is expected that the application of synchronous condensers in power plants and other similar machines will grow prominently throughout the forecast period.
  • On the basis of power rating, synchronous condensers ranging from less than 50 MVAR and from 50 to 80 MVAR are expected to consume majority share of the global synchronous condenser market value. This is driven by the increasing construction of synchronous condensers under specified power ratings by key market players across several regions.

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Synchronous Condenser Market: Vendor Insights

The report highlights some of the prominent market players, who have established themselves as leaders in the global synchronous condenser market. Some of the examples of key players in the global synchronous condenser market are ABB Ltd., General Electric, Siemens AG, Mitsubishi Electric Corporation, WEG, Eaton Corp. PLC, Voith GmbH, Ansaldo Energia, Toshiba Corporation, and Sustainable Power Systems Inc., among others.

The global synchronous condenser market is significantly consolidated with some players holding prominent shares of the market. These players are offering synchronous condensers under their business segments such as F.A.CT.S., and motors & generators, among others.

About Future Market Insights (FMI)

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

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According To FMI, Market For Sulphur Recovery Technology Is Expected To Surpass US$ 2.7 Billion By 2031

Newly released data by Future Market Insights (FMI), projects that the sulphur recovery technology market will reach a valuation of US$ 1.2 Bn by 2021 and is expected to grow at a compound annual growth rate (CAGR) of 11% from 2021 – to 2031. The increasing production of shale gas will accelerate the growth with top market players holding 2/5th of sulphur recovery technology market share in 2021.

Growth predictions remain positive for Europe due to increasing government expenditure on the oil and gas industry and the presence of leading market players in the U.K. and Germany. Spurred by this, the Europe sulphur recovery technology market is projected to grow at about 12% CAGR during the forecast period.

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Increasing emphasis on regulations for reducing levels of sulphur in products and lower sulphur emissions has boosted demand for the deployment of sulphur recovery technology units.

The growing numbers of refinery projects across the world are anticipated to create vast opportunities for sulphur recovery technology manufacturers, as the installation of their units in these plants will lead to significant profits.

Furthermore, increasing expansion projects across the world are expected to be a major factor contributing to sales of global sulphur recovery technology.

According to the recent research report published by Future Market Insights, the sulphur recovery technology market is expected to exhibit an impressive CAGR of 11% during the forecast period of 2021-2031.

Key Takeaways of Sulphur Recovery Technology Market Study

Increasing exploration and production activities, especially those associated with shale gas, led to high demand for sulphur recovery technology units from refineries. Production of recovered sulphur from gas refining activities is increasing significantly, attributable to the rise of major gas refining activities across the globe.

In terms of plant capacity, there is a rising demand for sulphur recovery technology units with a capacity of less than 100 t/d, owing to lower emission footprint, ease of upgradation, and relative cost-effectiveness as compared to other units.

Stringent environmental regulations regarding the emission of hydrogen sulfide mainly released during oil & gas extraction, treatment, transportation, and refining are boosting the demand for the development of cost-effective desulphurization technologies. For instance, environmental legislation of the EU (European Union) sets the standards for oil & gas refineries industries in Europe.

The oil and gas production in prevailing refineries is expected to have a greater impact on the growth and development of the global sulphur recovery technology market in comparison to new refinery bases.

In terms of value and volume, Europe and the MEA are identified as dominant regions throughout the forecast period. The increasing number of refineries projects in countries in Europe and MEA such as Saudi Arabia, Kazakhstan, and Russia, are expected to supplement the demand for sulphur recovery technology. These countries also have oil reserves, which in turn support the demand for sulphur recovery technology.

“APAC is one of the majorly profitable markets for players offering sulphur recovery technology, attributable to the establishment of new refineries to cater to the growing demand for new gas refining units in the region,” says an FMI analyst.

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Sulphur Recovery Technology Market: Competitive Landscape

The global sulphur recovery technology market has remained competitive with the presence of giant players having expertise in advanced manufacturing technologies, and product offerings for diverse applications.

However, leading players account for nearly 2/5th of the global sulphur recovery technology market share. These players include Royal Dutch Shell plc, Exxon Mobil Corporation, Bechtel Corporation, Fluor Corporation, and Linde AG & Technip FMC plc.

Such key players are adopting strategies such as expansion, acquisitions, and product launches, and are creating challenges for small-scale players.

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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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Market For Odour Control Systems Is Predicted To Grow At A Moderate Rate Of 4.7 Percent

According to estimates, the global market for odour control systems will be worth $1.19 billion in 2022. The overall sales are expected to increase at a moderate CAGR of 4.7 percent between 2022 and 2029, reaching US$ 1.57 Bn by 2029, due to the increasing adoption of odour control systems for improving air quality levels across a variety of industries.

According to the analysis and study done in the report, the global odour control system market is anticipated to observe prominent progress, due to increasing adoption in the chemical industry.

The odour control system market has a high potential to grow in regions such as Asia Pacific Excluding Japan (APEJ) and North America. Significant innovations with incorporation of advanced technologies meeting regulations are expected to emerge as a product differentiator in the odour control system market.

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Competitive Landscape

portfolios. They are adopting various organic and inorganic strategies such as mergers, partnerships, new product launches, collaborations, and acquisitions to gain a competitive edge in the market. For instance:

  • In June 2020, CECI Environmental Corp., a leading global air quality and fluid handling technology company, completed the acquisition of Environmental Integrated Solutions Limited (EIS). The acquisition will expand the odour control product portfolio of the company.
  • In May 2019, Catalytic Products International (CPI) installed an 8,000 SCFM Regenerative Thermal Oxidizer (RTO) at a Western USA bakery for the abatement of Volatile Organic Compounds (VOCs).

Japan to Provide Noteworthy Growth Opportunities for Manufacturers

The ongoing technological advancements and progression in investment for the storm water management projects and wastewater treatment facilities are expected to grow significantly over the forecast period. Odour control system manufacturers are focusing more on improving their market structures and offerings in the region.

Emphasis on trade balance and increasing production by strengthening the manufacturing sector is currently the prime motive of the government in Japan. Also, the adoption of ‘best available technique’ is prominent in the country, which is likely to propel the demand for advanced odour control system.

Japan has large installed base of odour control systems which are likely to get regular up gradation and replacements. Considering the average life of the odour control systems and the install base, the market in Japan is estimated to surge in next few years.

For the global odour control system manufacturers, Japan is projected to be a prominent market throughout the forecast period, owing to the increasing consumption and production of odour control systems across several industries.

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Chemical & Petrochemical Industry to Capture Prominent Share

The division of the global odour control system market has been done on the basis of application, along with six regions.

  • High application potential of odour control system is identified in chemical & petrochemical industry. These industries produce odorous compounds such as hydrogen sulfide, ammonia,mercaptansand several others.The air contains odorant molecules, which must be treated to avoid corrosion and to comply with environment regulations, hence mandating the use of odour control systems in chemical & petrochemical industries.
  • Waste treatment and disposal plants are a major source of odour emission. The effluents and vapors coming from these sources are of different and unpredictable composition. Hence, it becomes a necessity to install a combination of odour controls systems at these locations, thereby potentially influencing the market growth.

Odour Control System Market: Vendor Insights

The global odour control system report emphasizes on some of the principal industry players. Some of the key players include Babcock & Wilcox Enterprises, Inc., CECO Environmental., Anguil Environmental Systems, Inc., Evoqua Water Technologies LLC, Scotmas Limited, Ecolab Inc., Tholander Ablufttechnik GmbH,among others.

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About Future Market Insights (FMI)

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

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Future Market Insights, Inc

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Aircraft Ground Support Equipment Market Exhibiting Demand At A CAGR Of 6.5%-FMI

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

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

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

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

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

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

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

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Competitive Landscape

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

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

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

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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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Future Market Insights,
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Sales Of Centrifugal Pumps Will Grow At A CAGR Of 4.6% Between 2021 And 2031, According To FMI.

The Centrifugal Pumps Market is anticipated to grow favourably through 2021, with the estimated global valuation expected to surpass US$ 29 billion in that year. Sales of centrifugal pumps are expected to grow at a 4.6% CAGR between 2021 and 2031, according to Future Market Insights (FMI).

The agricultural sector will experience faster growth than industrial applications, which are predicted to have the highest demand. FMI has forecast the centrifugal pumps demand to rise at 4.7% between 2021 and 2031 in the agricultural segment.

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FMI predicts healthy growth in the oil and gas industry, particularly in economies such as China, U.S., the Middle East, and Africa. Centrifugal pumps are important for ensuring accurate and repeatable transportation and pumping operations in the industry. As a result, the rise in oil and gas sector activities around the world is driving demand for centrifugal pumps.

Global demand for centrifugal pumps is directly correlated to infrastructure development activities worldwide. Governments of developing countries such as China and India are focusing on urbanization, which in turn is anticipated to fuel demand for centrifugal pumps, particularly in domestic, Water, and wastewater treatment industries

The presence of numerous Chinese players offering low-priced centrifugal pumps acts as a restraint to most regional and global players. Increasing price pressure from these players is influencing key suppliers to offer high-quality, reliable, efficient and technologically-advanced centrifugal pumps at competitive rates.

Manufacturers need to evaluate life cycle costs and facilitate smart buying decisions. Centrifugal pump manufacturers need to analyze cost of energy and return of investment for centrifugal pumps compared to purchase and installation costs.

Key Takeaways from Centrifugal Pump Market Study

  • Multi stage pumps are expected to hold over 50% of the global market share, supported by heavy duty requirements of the oil and gas sector.
  • Water and wastewater applications are projected to hold over a third of the overall market share by 2031-end, aided by infrastructure investments in emerging economies.
  • The market in South Africa is projected to expand at a CAGR of around 5%, while that of Mexico accounts for approximately 4%, through 2031.
  • The markets in India and South Korea are set to surge at a higher than 5% CAGR over the coming decade.
  • Germany will hold the lead in Europe with a valuation of over US$ 1.2 Bn in 2021. Major investments in the natural gas sector will provide impetus.

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 “Developing nations are exhibiting high demand for centrifugal pumps for industrial and commercial applications, driven by rising investments into water and wastewater infrastructure by governments. This will enable growth in the overall market through 2031,” says a Future Market Insights analyst.

Competitive Landscape

The centrifugal pumps market is highly consolidated, with key players accounting for more than four-fifth of the market share. These players are likely to invest in technology developments and the expansion of their networks in order to maintain their market shares.

Some of the key players in this industry include but are not limited to Ebara Corp., Xylem Inc., Sulzer AG, KSB Group, Flowserve Corp., and Kirloskar Brothers.

Key Points Covered in Centrifugal Pumps Market Study

  • Market estimates and forecast 2016-2031
  • Key drivers and restraints impacting market growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on XYZ and How to Navigate
  • Recommendation on Key Winning Strategies

Find More Valuable Insights

The research report analyzes demand for centrifugal pump. The global centrifugal pump market has been analyzed with the COVID-19 impact, various macroeconomic factors, market trends & market background. As per Future Market Insights’ research scope, the market has been analyzed on the basis of product type, application, 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 side.

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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,

Unit No: 1602-006

Jumeirah Bay 2

Plot No: JLT-PH2-X2A

Jumeirah Lakes Towers

Dubai

United Arab Emirates

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