Hospital Supplies Market Expected to Grow at 3.7% CAGR, Valued at USD 42.3 Billion in 2032

Hospital Supplies Market
Hospital Supplies Market

The global demand for hospital supplies market is forecasted to grow at a steady compound annual growth rate (CAGR) of 3.7% from 2022 to 2032. In 2022, the market is estimated to reach a valuation of USD 29.5 billion.

According to recent studies, hospitals represented a significant share of 47.2% in the global hospital supplies market in 2021, underscoring their pivotal role in driving market demand.

Hospitals have maintained a significant presence in the market, holding a substantial share of 47.2% in 2021. This strong market share underscores the critical role that healthcare institutions play in driving the demand for essential hospital supplies, including medical devices, consumables, and equipment.

The study highlights a sustained growth outlook for the sector, reflecting the increasing need for advanced healthcare solutions and improvements in hospital infrastructure globally. As the healthcare industry continues to evolve, investments in innovative hospital supplies are expected to play a crucial role in enhancing patient care and operational efficiency.

The development of hospital supplies industry is reliant on the increasing adoption of sterile products, growing incidence of hospital-acquired infections and rising awareness about safe health and hygiene practices in developing countries.

“Rising awareness regarding medical sterilization and hygiene in developing nations, along with technological advancements hospital supplies will auger well for the growth in the market,” says an FMI analyst.

Key Takeaways:

  • Based on product type, the hypodermic and radiology products segment accounted for 17.6% of the total market in 2021, and demand is expected to increase at a 3.6% CAGR through 2032.
  • In terms of end-user, hospitals are expected to register a CAGR of 3.9% in the forthcoming years.
  • The U.S. is anticipated to dominate the North America hospital supplies market over the forecast period, accounting for a lion’s share.
  • Sales in the Germany hospital supplies industry are slated to increase at a 3.5% CAGR over the assessment period.
  • Demand in the China hospital supplies market will grow at a 4.1% CAGR in the forthcoming years.
  • India will emerge as a lucrative pocket, with demand growing at a 4% CAGR through 2032.

Competition Landscape

The key players in the hospital supplies industry are focusing on tapping market potential through entering into strategic mergers & acquisitions agreements. They are also improving their product portfolios to gain a competitive edge in the market. For instance:

  • In March 2021, Cardinal Health entered into a partnership with FourKites to improve the tracking of medical supplies and equipment’s along with pharmaceutical products, first aid supplies and personal protective equipment (PPE) kits in hospitals, pharmacies and other healthcare settings across the globe.
  • In December 2020, 3M launched its next generation of silicon adhesive tapes, the 2480 3M Single coated medical nonwoven tape with silicon adhesive liner. It offers more and secure adhesion, avoids trauma to patient skin and aids a longer wear time. Hence, rising incidents of hazardous situations and chronic disease prevalence will propel market growth in future.

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Key Market Segments Covered in Hospital Supplies Industry Research

By Product:

  • Sterilization Consumables
  • Wound Care Products
  • Dialysis Products
  • Infusion Products
  • Hypodermic & Radiology Products
  • Intubation & Respiratory Supplies
  • Surgical Procedure Kits & Trays
  • Blood Management & Diagnostic Supplies
  • General Disposable Products

By End User:

  • Hospitals
  • Ambulatory Surgical Centres
  • Clinics
  • Diagnostic Centres
  • Long Term Care Centres
  • Nursing Facilities

By Region:

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

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

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: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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FMI Analysis Projects Global Stacker Crane Market Size Estimated to Surpass USD 2.4 Billion Milestone by 2033, Expanding at 7.9% CAGR

The global stacker crane market is predicted to register a CAGR of 7.9% over the forecast period, according to FMI’s analysis. The industry’s market value is anticipated to increase from USD 1.1 billion in 2023 to USD 2.4 billion by 2033 end.

Over the projection period, the stacker crane business is expected to increase at a healthy rate. Stacker crane demand is expected to be supported by industrial growth and globalisation in emerging economies. Lucrative opportunities in developing countries are enticing more foreign manufacturers to expand their businesses.

Many industries, including food and beverage, retail, pharmaceuticals, and automotive, are increasing their worldwide footprint through expanding into new markets. Furthermore, different economic rewards are motivating them to expand their reach. These industries’ distribution and logistics networks are being strained by the increasing demand for their products. As a result, demand for stacker cranes is increasing, as is the need for automated warehouses in a variety of end-use sectors.

The industry is also witnessing heightened demand for storage robots, which are a type of stacker cranes. The increasing demand for these stacker cranes can be attributed to their agility and capacity while removing or storing products from the rack. Moreover, the automated pallet shuttle is also gaining huge popularity. Growing demand for this electric shuttle as it expedites the pallet unloading and loading is anticipated to propel the market development.

Key Highlights of the Stacker Crane Industry: 

  • The United States is projected to be a significant stacker crane market in the forecast period as well. The country is estimated to attain a market valuation of USD 850.3 million by 2033, expanding at a CAGR of 7.7%.
  • In Asia Pacific, China is predicted to reach USD 172.2 million by 2033. The market is anticipated to register a 7.3 CAGR over the forthcoming years. Strong demand for stacker cranes in automatic high-bay storage facilities is contributing to market growth.
  • Japan is expected to emerge as a substantial market over the upcoming years. The market is predicted to attain USD 140.8 million by 2033, exhibiting a CAGR of 6.4% over the forecast period. The increasing retrofitting and upgrading of existing stacker crane systems are projected to yield market growth.
  • Growing preference for consumer goods is augmenting the demand for stacker cranes. The consumer goods segment is projected to register a CAGR of 7.1% over the next 10 years.
  • Rising demand for single-column stacker cranes is expected to be favorable for market growth. Over the upcoming years, the single-column stacker crane segment is expected to exhibit a CAGR of 7.4%.

News Featuring Market Developments by Key Players of Stacker Crane Market:

  • In November 2020, Doosan Logistics Solutions Co., Ltd entered into an agreement with Chinese autonomous mobile robot maker Geek+ to supply logistic robots for Geek+ in South Korea.
  • In June 2021, Toyota Motor partnered with Swisslog Holding AG to execute an automation system, such as Swisslog’s Carry Pick, for its storage and order-picking services, at its Kentucky unit.

List Encompassing Key Players:

  • KION GROUP AG
  • Doosan Corporation.
  • Ssi Schaefer
  • Swisslog Holding AG
  • Murata Machinery, Ltd.
  • Hyster-Yale Materials Handling, Inc.
  • Jungheinrich AG
  • MITSUBISHI LOGISNEXT CO., LTD.
  • TOYOTA INDUSTRIES CORPORATION
  • Vanderlande Industries B.V.

Key Segments Covered:

By Operation Type:

  • Semi-automatic
  • Automatic

By End-use Industry:

  • Consumer Goods
  • E-commerce/Retail and Wholesale
  • Pharmaceutical
  • Automotive
  • Others

By Application:

  • Autostart
  • Early Baggage Storage
  • Sortation System
  • Robotized Order Preparation

By Type:

  • Single Column
  • Double Column

By Region:

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

Access Report Details for More In-Depth Information!

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.

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

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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FMI Prediction States Global Ductless Heating & Cooling Systems Market Set to Surpass USD 228 Billion by 2032, Driving 8% CAGR Growth

The global ductless heating & cooling systems market has experienced remarkable growth, surging to an estimated worth of USD 98 billion in 2021, with a promising outlook for the future. Driven by a robust Compound Annual Growth Rate (CAGR) of 8% from 2022 to 2032, industry forecasts suggest a substantial valuation of around USD 228 billion by the end of the 2032.

Ductless heating and cooling systems have become integral components of modern smart homes, offering precise control over indoor climate and air quality. These systems excel in regulating temperature, humidity, and fresh air intake, thereby fostering comfortable and sustainable living environments. Their adaptability for optimization, facilitated by components such as smart thermostats, sensors, control valves, heating and cooling coils, dampers, actuators, pumps, and fans, underscores their unique appeal. As the market for ductless heating and cooling systems continues to evolve, the emphasis on precision and sustainability in climate control is expected to drive its extraordinary growth trajectory.

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Ductless Heating and Cooling Systems Market: Dynamics & Trends

Air conditioners and freezers are familiar examples of heat pumps. The term ‘heat pump’ is more general and applies to many HVAC (heating, ventilating, and air conditioning) devices used for space heating or space cooling. Ductless systems utilize variable speed compressors with inverter technology (alternating current cycle to direct current cycle) to match the continuous requirement of heating/cooling loads.

Thus, the inefficient on/off cycle of the conventional electric resistance and central heating systems is avoided. Conventional electric resistance and heating systems are often associated with uncomfortable temperature variations and high energy consumption.

The inverter technology makes the operation ultra-quiet at variable speeds. This results in even temperature control, energy savings, and high power dehumidification. The compressor speed modulates automatically, akin to a vehicle’s cruise control. This variable compressor speed enables the system to avoid running at maximum capacity constantly and draw energy when needed.

Ductless heating and cooling systems offer highly flexible heating and cooling solutions depending on the zones and closed spaces. These systems save overall cost power consumption as compared to ducted systems and conventional electric resistance and heating systems.

Apart from saving costs, installation ion of ductless systems enables tax credits and utility rebates for a year (in federal, state, or local level programs), especially in North America, Europe, and some countries in Asia such as Japan.

Ductless heating and cooling systems are quick and easy to install. They do not disrupt daily activities regardless of the space where they are intended to be installed. Based on environment protection, heating and cooling systems, especially the cooling systems, emit CFCs (Chloro-Fluoro-Carbons) that directly damage the protective layer of ozone. Ductless systems with the latest inverter technology and improved refrigerant usage lower the carbon footprint and are considered to be highly environmentally friendly.

Ductless Heating and Cooling Systems Market: Segmentation

Based on application, the ductless heating and cooling systems market can be segmented by type into single-zone systems and multi-zone systems. In terms of end-use, the market can be divided into HVAC (heating ventilation and air conditioning), water heating, and district heating. Based on region, the global ductless heating and cooling systems market can be segregated into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

A list of Key Players Covered in the Ductless Heating and Cooling Systems Market are:

  • Hitachi Ltd
  • LG Electronics
  • Mitsubishi Electric Co
  • Daikin Industries Ltd
  • Trane Technology
  • Johnson Controls
  • Lennox International Inc.
  • Nortex
  • Whirlpool Corporation

Market Segments Covered:

By Product Type:

  • Split System
  • Mini Split System
  • Multi Split System
  • VRF system
  • Window Air conditioning System

By Application:

  • Residential Building
  • Commercial Building
  • Industrial Building

By Region:

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

IoT in Healthcare Market Growth to Reach USD 952.3 Billion by 2032, Growing at 18.0% CAGR

IoT in Healthcare Market
IoT in Healthcare Market

The global Internet of Things (IoT) in healthcare market is poised for significant expansion over the next decade. Valued at USD 181.4 billion in 2022, the market is projected to grow at an impressive CAGR of 18.0%, reaching a total of USD 952.3 billion by 2032. This growth follows a substantial year-on-year (Y-o-Y) increase of 20.7% from 2021 to 2022, when the market rose from USD 150.3 billion.

The adoption of IoT in healthcare is being driven by advancements in connected medical devices, real-time patient monitoring systems, and the need for more efficient healthcare management solutions. These technologies are improving patient outcomes, enhancing healthcare delivery, and streamlining operations for providers.

In addition, the introduction of the Zoll LifeVest 4000, a wearable defibrillator, is set to revolutionize arrhythmia monitoring for individuals of all ages, offering the crucial capability to diagnose sudden cardiac arrest. These advancements underscore the transformative impact of IoT technology in healthcare and its potential to improve lives worldwide.

AI, ML, and NLP are also helping to analyze patients’ health issues. However, the inherent security dangers associated with IoT in healthcare must not be overlooked, as they may stymie business expansion. Future Industry Insights’ recent industry analysis, named ‘IoT in Healthcare Industry,’ provides insights into these variables.

Key Takeaways from IoT in Healthcare Market

  • North America has a sizable market share. This could be explained by a growing emphasis on health management throughout the United States.
  • Europe is likewise predicted to develop linearly, with the United Kingdom and France leading the way. This may be due to increased demand for telemedicine, mHealth, and EHRs (electronic health records).
  • The Asia-Pacific region is predicted to grow at the fastest rate in the IoT in healthcare market, led by South Korea, India, and China.
  • With countries focusing more on upgrading healthcare systems, LATAM is projected to pick up speed in the future. For example, in February 2020, many Brazilian ministries established a collaboration to integrate IoT systems in the healthcare sector.

IoT in Healthcare Market Competitive Landscape

  • Microsoft Corporation announced in October 2020 that it had entered into a strategic relationship with ZEISS Group to improve patient care through data-driven healthcare solutions. The primary goal is to improve device management, treatment, and clinical workflow by utilizing a revolutionary digitally connected approach.
  • In May 2019, General Electric Company teamed with NASSCOM to create and deliver digitized healthcare services and solutions in the market. The goal was to improve digital healthcare through the NASSCOM CoE-IoT (Centre of Excellence-Internet of Things) platform.
  • Medtronic, in January 2019, partnered with IBM Watson to provide IQcast. It’s a new-fangled feature of the existing product ‘Sugar. IQ’ for iOS mobile devices all across the US. This software claims to make available a hypoglycemic episode to patients for monitoring the low glucose level. It does work by predicting occurrence 1-4 hours prior.
  • Spencer Health Solutions and Royal Philips, in April 2019, started working towards the expansion of their rapport for providing chronically ill patients in select EU nations with an in-home adherence to medication on the Philips telehealth platform.

“Connected devices are penetrating the healthcare vertical at an alarming rate. This factor is bound to take the IoT in healthcare market by storm in the forecast period”, says an analyst from Future Market Insights.

IoT in Healthcare Market Key Players:

  • Apple Inc.
  • Cisco Systems Inc.
  • GE Healthcare Ltd.
  • Google (Alphabet)
  • International Business Machines Corporation
  • Medtronic PLC
  • Microsoft Corporation
  • Proteus Digital Health
  • Koninklijke Philips N.V.
  • QUALCOMM Incorporated
  • Abbot Laboratories

What is the IoT in Healthcare Market Report up to?

  • Future Market Insights offers an exclusive perspective and various real-time insights on the IoT in the Healthcare Industry in its latest study, presenting a historical demand assessment of 2016 to 2021 and projections for 2022 to 2032.
  • The research study is based on components (IoT in healthcare hardware (portable diagnostic devices and non-portable diagnostic devices), IoT in healthcare software, and IoT in healthcare services), by application (telemedicine, medication management, clinical operations, patient monitoring, connected imaging, and likewise), by technology (Bluetooth-based, Wi-Fi-based, NFC-based, Zigbee-based, RFID-based, and others (Cellular, Satellite, Zwave, EnOcean)), and by end-user (hospitals, pharmaceuticals, and clinics & laboratories).
  • Numerous developed economies are increasingly shifting their preferences to electronic health record systems. This factor is actually expected to put the IoT in healthcare Industry on the top pedestal in the forecast period.

A Full Report Analysis Click Here

Key Segments Covered in the IoT in Healthcare Market Report

by Component:

  • IoT in Healthcare Hardware
    • Portable Diagnostic Devices
    • Non-Portable Diagnostic Devices
  • IoT in Healthcare Software
  • IoT in Healthcare Services

by Application:

  • IoT in Healthcare for Telemedicine
  • IoT in Healthcare for Medication Management
  • IoT in Healthcare for Clinical Operations
  • IoT in Healthcare for Patient Monitoring
  • IoT in Healthcare for Connected Imaging
  • Other IoT in Healthcare Applications

by Technology:

  • Bluetooth-based IoT in Healthcare
  • Wi-Fi-based IoT in Healthcare
  • NFC-based IoT in Healthcare
  • Zigbee-based IoT in Healthcare
  • RFID-based IoT in Healthcare
  • Other IoT in Healthcare Technologies (Cellular, Satellite, Zwave, EnOcean)

by End User:

  • IoT in Healthcare across Hospitals
  • IoT in Healthcare across Pharmaceuticals
  • IoT in Healthcare across Clinics & Laboratories

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: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

FMI Analysis States Global Electrical Digital Twin Market Size Surging Towards USD 3,342.7 Million by 2033, Driving 11.9% CAGR Growth

As per a new market research report published by Future Market Insights, the global electrical digital twin market is anticipated to increase significantly, progressing from USD 1,085.9 million in 2023 to USD 3,342.7 million by 2033. Throughout this projected period, the market is expected to experience substantial growth with a strong CAGR of 11.9%.

The increased acceptance of innovative technologies such as IoT and cloud for digital twin applications and attractive digital twin prospects in industries such as aerospace and defense, healthcare, and automotive and transportation are driving demand for electrical digital twin.

The digital twin is being used in various industries, including automotive, construction, and manufacturing. In addition, firms in these industry verticals are continually leveraging digital twin systems and technologies to evaluate the performance of physical assets and highlight where changes and enhancements are needed to achieve beneficial outcomes.

Recent Developments by the Electrical Digital Twin Service Providers

  • Digital twin modeling and simulation technology was developed by ABB and Corys in 2020 using ABB Ability 800xA Simulator and Indices Plus process modeling.
  • A visual computing platform was designed in 2022 by a collaboration of Siemens and Threedy to provide access to visual digital twin information.
  • In 2021 the on-premises analytics software of General Electric was upgraded that can now utilize artificial intelligence and machine learning technologies. AI and ML can be used for the quick identification of problems and suggest remedies fast for better performance.

Key Players in the Industry:

Aveva Group; General Electrical; Siemens AG; Emerson Electric Manufacturing Co.; Etteplan Engineering Co.; Wipro Ltd.; Microsoft Corporation; International Business Machines Corporation (IBM); Schneider Electric. Co.

Electrical Digital Twin Industry Segmentation:

By Twin Type:

  • Digital Gas & Steam Power Plant
  • Digital Wind Farm
  • Digital Grid
  • Digital Hydropower Plant
  • Distribution Energy Resources
  • Other Applications

By Usage Type:

  • Production Digital Twin
  • Process Digital Twin
  • System Digital Twin

By Deployment Type:

  • Cloud
  • On-premises

By End User:

  • Utility Service Providers
  • Grid Infrastructure Operators

By Application:

  • Asset Performance Management
  • Business & Operations Optimization
  • Digital Twin Aggregate

By Region:

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

Access Report Details for More In-Depth Information:

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.

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

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

Global Dental Tourism Market size to Reach USD 31,540.90 Million by 2034, Growing at 10.7% CAGR

Dental Tourism Market
Dental Tourism Market

The global dental tourism industry is set for rapid growth as patients increasingly seek dental care combined with travel experiences. With the rising popularity of medical tourism, the demand for dental tourism is expected to surge, exhibiting a CAGR of 10.70% from 2024 to 2034.

According to healthcare experts at Future Market Insights, the market is projected to be valued at USD 8,812.30 million by 2024. This upward trend is driven by demographic shifts, rising demand for cosmetic dentistry, and the growing appeal of affordable yet high-quality dental care in popular tourist destinations. By 2034, the market is forecast to reach a valuation of USD 31,540.90 million.

In addition, treatment costs in countries such as India, Thailand and China are relatively lower than in the countries of North America and Europe. This reflects an increase in dental tourism from Europe and North America to emerging economies. Obtaining a medical visa for such procedures is comparatively faster and easier, thereby facilitating the flow of patients abroad for treatment.

Promotional strategies such as the launch of online campaigns showcasing cost-effective services from healthcare facilities are contributing to the growth of the market. Providing undivided attention to healthcare and providing affordable accommodation sparks consumer interest in adopting attractive medical-tourism packages, identifying both treatment and recreational choices.

With increasing lifestyle-related diseases and unhealthy dietary intake, the incidence of dental disease is increasing. High prevalence of diseases such as dental caries has led to a spike in dental restoration procedures. Thus, the increasing burden of dental abnormalities is propelling the interest in cosmetic dentistry, creating growth opportunities in the market.

“Increasing adoption of technologically advanced medical devices in emerging economies, along with increasing government-backed investment in the The development of healthcare infrastructure in these countries is expected to drive the market in the coming years,” said an FMI analyst.

Key learning points:

  • On a services basis, revenue in the dental cosmetics segment will grow at a robust CAGR of 18.1% through 2032.
  • In terms of providers, the hospital chain segment is expected to account for 47.2% of the total market share by 2022.
  • India will emerge as a lucrative pocket, accounting for 53.9% of the dental tourism market share in South Asia by 2022.
  • What are some of the core competencies and differentiating competencies of new entrants and established players in the industry that we analyze?
  • What are some of the brand opportunities that are developing at a rapid pace?
  • What are the key competitive forces and elements of the external environment that determine the industry lifecycle stages of most organizations?
  • Why are some competitive strategies more popular than others among leaders in a particular market?
  • What customer-based brand value strategies have companies used in a particular industry or set of related industries in an industry?

Competition landscape

With the advancement in cosmetic dentistry, market players are striving to offer these services at affordable prices to gain a competitive advantage. They also invest in mergers, acquisitions and collaborations to expand their global presence. Other strategies include product and service promotions on social media and online channels, as well as partnerships with hospital chains.

A Old Full Report Analysis Click Here

Key Market Segments Covered in Dental Tourism Industry Research

By services:

  • Dental implants
  • Periodontology
  • endodontics
  • Dental prostheses
  • Orthodontics
  • pedodontics
  • Oral surgery
  • Dental Cosmetics
  • Dental Consultation

By travelers:

  • Occasional travelers
  • Business travelers

By providers:

  • Hospital chains
  • Multi-Specialty Clinics
  • Independent clinics

By Region:

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

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

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: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Refrigeration Coolers Market Size to Exceed USD 6,409.7 Million Mark by 2033, Surging at 5.6% CAGR Growth

The net valuation of the total sales of refrigeration coolers in 2022 reached USD 3,567.2 million. With a CAGR of 5.6%, the refrigeration coolers market may worth USD 6,409.7 million by 2033.

The growing requirement for food and beverage, meat and poultry processing, and refrigerated warehouses is propelling the demand for refrigeration coolers. Demand for walk-in cooler refrigeration has increased due to changing lifestyles and rising urbanization. Resulting in an increased need for commercial refrigeration coolers.

The demand for smart refrigeration coolers has also increased. As cold storage chain logistics and transportation have increased with surging demand for packaged food products. In addition, the sales of refrigeration cooler units to store and cool prepared food has increased as the cloud kitchen concept is growing fast.

Due to difficulty in component procurement and supply chains during the pandemic years, the overall market faced a brief period of downturn. However, the rise in online grocery and frozen food shopping during the pandemic prompted e-commerce companies to invest more in refrigerated warehouses and cold storage.

Key Takeaways from the Market Study Report

  • The United States refrigeration cooler market leads the global market and contributed a revenue share of 18.4% in 2022.
  • Global industry participants are seeing rising competition from industries based in China, which is projected to grow at 6.3% through 2033.
  • During the forecast years, India is anticipated to witness a CAGR of 6.8% in sales of refrigeration coolers. The increasing demand for refrigerated cooling units from both commercial and industrial end users is shaping this lucrative market growth rate.
  • During the projected period, the commercial applications of refrigeration coolers are expected to constitute the leading segment in the global market. Currently, this segment accounts for almost 61% of the global market share.

Key Players in the Industry:

  • Johnson Controls International plc. (Ireland)
  • Lu-Ve SPA (Italy)
  • Lennox International (United States)
  • Kelvion Holding GmbH (Germany)
  • Rivacold SRL (Italy)
  • H. Güntner Limited (Italy)
  • Refrion SRL (Italy)
  • Evapco, Inc. (United States)
  • Stefani SPA (Italy)
  • Onda SPA (Italy)
  • Emerson Electric Co (United States)
  • Roen Est. Group (Italy)
  • KFL SRL (Italy)
  • Walter Roller (Germany)
  • CABERO (Germany)
  • Thermofin (Canada)
  • Thermokey SPA (Italy)
  • Koxka (Spain)
  • Modine Manufacturing Co. (United States)
  • Centauro International (Portugal)
  • Daikin Industries, Ltd (Japan)
  • Friterm A S (Turkey)
  • Carrier and Danfoss A/S (Denmark)

Recent Developments by the Refrigeration Coolers Industries

Over the forecast years, evaporators and air coolers are expected to hold a significant market share for refrigeration cooler component manufacturing industries. Better and more inventive components are driving enormous growth in commercial and industrial applications.

Modern computerized refrigerated cooling systems are adaptable enough for big retail sites as well as industrial cold storage applications. However, the necessity for regular upkeep and technical issues emerging from a lack of proper maintenance is a fundamental market limitations.

Key Segments Covered by Refrigeration Coolers Industry Survey Report

By Product Type:

  • Deep Freezers
  • Bottle Coolers
  • Display Showcases
  • Storage Water Coolers
  • Commercial Kitchen Refrigeration
  • Transportation Refrigeration Equipment
  • Ice Merchandisers & Ice Vending Equipment
  • Medical Refrigeration
  • Chest Refrigeration
  • Other Product Types

By Application:

  • Commercial Refrigeration
    • Food & Beverage Distribution and Retail Stores
    • Convenience Stores and Mini Markets
    • Supermarket and Hypermarkets
    • Hospitals and Drug Stores
    • Other Retail Stores
  • Industrial Refrigeration
    • Refrigerated Warehouses
    • Fruit & Vegetable Processing
    • Beverage Processing
    • Dairy & Ice-cream Processing
    • Meat, Poultry, & Fish Processing
    • Other Special Applications

By Component Type:

  • Evaporators & Air Coolers
    • Air Units
    • Dry Coolers
    • Brine Coolers
    • Blast or Tunnel Unit coolers
  • Condensers
    • Evaporative Condensers
    • Air-Cooled & Water-cooled Condensers

By System Type:

  • Self-contained Refrigerator
  • Remotely Operated Refrigerator

By Capacity:

  • Less than 50 cu. Ft
  • 50 cu. Ft to 100 cu. Ft
  • More than 100 cu. Ft

By Refrigeration Coolant Type:

  • Hydro Fluorocarbon (HFC) or Hydro Fluoroolefin (HFO)
  • Ammonia (NH3) Refrigerant
  • Carbon Dioxide (CO2) Refrigerant
  • Glycol Refrigerant
  • Other Coolants or Refrigerants

By Regional Markets:

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

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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.

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

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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Global Patient Transportation Market Expected to Reach USD 37,639.9 Million by 2034 at a 5.5% of CAGR , Driven by Non-Emergency Services

Global Patient Transportation Market
Global Patient Transportation Market

The global patient transportation market is poised for significant growth, with an estimated value of USD 22,035.5 million in 2024. Projections indicate that the market will expand to USD 37,639.9 million by 2034, reflecting a compound annual growth rate (CAGR) of 5.5% during the forecast period.

In 2023, the revenue generated by non-emergency patient transportation services reached USD 20,886.8 million, underscoring the essential role of these services in healthcare delivery. The industry is anticipated to maintain a steady year-over-year growth rate of 5.5% in 2024, driven by increasing demand for efficient and reliable transportation solutions for patients with non-urgent medical needs.

Key factors contributing to the market’s growth include the rising prevalence of chronic diseases, an aging population, and the growing emphasis on patient-centered care. As healthcare providers and facilities focus on improving patient experience and outcomes, the demand for specialized patient transportation services continues to rise.

This upward trend presents numerous opportunities for service providers to innovate and enhance their offerings, ensuring that patients receive timely and comfortable transportation to and from healthcare facilities.

Because of efficiency in the management of critical care and long-term care patients in mobility, positioning, and transfer, sales in the market are expected to grow. Apart from that, chronically ill patients are given alternatives for transportation to and from medical facilities. These instances are provisional, based on reimbursements for patient transportation equipment capabilities, as determined by the patient’s insurance coverage, or government-funded initiatives.

The market for patient transportation is likely to gain traction, especially with the high prevalence of chronic diseases, high volumes of trauma-related cases, and disabilities. In cases where bariatric and diabetic patients require caregiver assistance for mobility, patient transportation solutions provide assistance.

To offer a diverse product range, manufacturers in the patient transportation market are developing products which are engineered as per disease indication. Key competitors have maintained a leading position in the market by integrating smart technologies into existing product offerings. 

Several firms are also promoting equipment sales through integration and collaboration with medical service providers, such as hospitals, which in turn is expected to boost sales in the market over the forecast period.

“Rising availability of indication-specific patient transportation solutions, along with the integration of connective technology such as artificial intelligence (AI) and IoT in beds and chairs will push sales in the market in the forthcoming years,” says an FMI analyst.

Key Takeaways:

  • Based on application, the non-emergency transportation held about 47.4% of the total market share in 2021, and the trend is expected to continue over the forecast period. 
  • In terms of end users, the hospitals segment accounted for 45.9% of the total market share in 2021. 
  • Sales in the U.S. patient transportation market are projected to increase at a 6.3% CAGR over the assessment period. 
  • Germany will witness high demand for patient transportation solutions, rising at a 6% CAGR through 2032. 
  • China will continue dominating the East Asia patient transportation market, with sales growing at a 5.9% CAGR over the forecast period. 

Competition Landscape 

Key players operating in the global patient transportation market are improve their product portfolios by incorporating breakthrough technologies for comprehensive patient care throughout the transportation process. In addition to this, the newly developed products can be personalised for use in response to certain disease-related events. For instance:

  • Stryker launched the industry’s first linked ambulance cot in March 2022, building on the success of its predecessor, the Power-PRO 2 powered ambulance cot. Greater manoeuvrability, improved safety, and connectivity tools are all part of the new development, which will help to mitigate time and cost constraints.
  • In December 2021, Vendlet launched a new powered patient turning aid.

Key Players :

  • Envision Healthcare
  • London Ambulance Service NHS Trust
  • Acadian Ambulance Service
  • BVG India Limited
  • America Patient Transport Services, Inc
  • Falck Denmark A/S
  • Air Medical Group Holdings, Inc.
  • Air Methods Corporation
  • Ziqitza Healthcare Limited
  • Medivic Aviation

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Market Segments Covered in Patient Transport Services Market Analysis

By Transport Vehicle:

  • Ground Ambulance
  • Air Ambulance
  • Water Ambulance

By Emergency Services Type:

  • Emergency Services
  • Non-emergency Services

By Equipment Type:

  • Advanced Life Support (ALS) Patient Transport Services
  • Basic Life Support (BLS) Patient Transport Services

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

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: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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FMI Analysis States Global District Cooling Market Revenue Share Anticipated to Surge Past USD 63.2 Billion Mark by 2033, Growing at 8.0% CAGR

The district cooling market is poised for substantial growth, projected to surge from USD 29.2 billion in 2023 to a remarkable USD 63.2 billion by 2033, reflecting a robust Compound Annual Growth Rate (CAGR) of 8.0% from 2023 to 2033.

The escalating demand for district cooling solutions is closely intertwined with the pressing environmental challenges posed by global warming. Observable impacts of climate change, such as earlier tree blooming, premature ice melting on rivers and lakes, and rapid glacier recession, underscore the urgent need for sustainable cooling technologies.

The rise in carbon dioxide (CO2) concentrations in the atmosphere, attributed largely to the widespread use of fossil fuels such as coal and oil, exacerbates the climate crisis. As nations strive to mitigate the adverse effects of greenhouse gas emissions, the adoption of district cooling systems emerges as a vital strategy to promote energy efficiency and reduce carbon footprints in urban environments.

Demand Factors:

The demand for cooling is particularly pronounced in tropical and hot climate zones, where air conditioner ownership is on the rise, as reported by the International Energy Agency (IEA). Notably, the Middle East stands out as one of the most advanced markets for district cooling systems.

In regions characterized by hot temperatures, there exists a pressing need for effective cooling solutions to ensure comfort, particularly during the scorching summer months.

With summertime temperatures soaring above 50 degrees Celsius in the Middle East, cooling becomes a paramount concern for inhabitants of this region. According to the Dubai Electricity and Water Authority, there is a staggering 40% surge in electricity demand, primarily for cooling purposes, during the scorching midday hours of summer. Cooling alone accounts for a substantial 70% of the region’s total energy requirement during the summer season.

District cooling emerges as a viable solution to address the energy-intensive nature of traditional cooling systems, offering efficient cooling capabilities. The IEA highlights a 60% increase in global energy demand for space cooling between 2000 and 2010. District cooling systems present an environmentally-friendly alternative to conventional air conditioning methods, helping to mitigate the use of environmentally harmful refrigerants like hydrochlorofluorocarbons (HCFCs) and hydrofluorocarbons (HFCs).

Key Players:

  • National Central Cooling Company PJSC
  • Emirates District Cooling
  • LLC (EMICOOL)
  • Shinryo Corporation
  • ADC Energy Systems LLC
  • Keppel DCHS PTE LTD
  • LOGSTOTR A/S
  • Ramboll Group A/S
  • SIEMENS AG
  • Stellar Energy

Key Segments Covered:

By Production Technique:

  • Free Cooling
  • Absorption Cooling
  • Electric Chiller

By Application:

  • Residential
  • Commercial
  • Industrial

By Region:

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

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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.

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

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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FMI Projection Affirms Global DC Switchgear Market Anticipated to Drive Past USD 29.361 Billion Mark by 2033, Driving 6.9% CAGR Growth

The DC switchgear market is revving up for a period of impressive growth, with a projected valuation of USD 15.066 billion in 2023. This strong foundation paves the way for a robust and consistent upward trajectory. Industry analysts forecast a compelling Compound Annual Growth Rate (CAGR) of 6.9% over the next decade (2023-2033), propelling the market towards a remarkable valuation of USD 29.361 billion by 2033.

Several key factors are driving this surge. One primary driver is the ever-increasing global demand for energy. This, coupled with a growing need for DC switchgear across a wide range of applications, is fueling significant market expansion. DC switchgear plays a critical role in electrical grids by effectively managing and controlling direct current (DC) levels. Its applications span diverse sectors including railways, maritime operations, and battery storage solutions. The switchgear segment itself holds a significant share within the broader DC switchgear market, contributing roughly 18.1%.

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Elevating DC Switchgear Industry: Factors Shaping Growth and Challenges Ahead

Fueling Growth: Embracing Energy Efficiency and Network Stability

The trajectory of the DC switchgear industry’s expansion is poised to receive a significant boost, primarily propelled by the shift towards energy-efficient distribution networks. This transition aligns with the heightened focus on transmission network stability, security, and reliability. The growing investments in the renewable energy sector further amplify the potential for lucrative opportunities within the DC switchgear market throughout the projected period.

Renewable Energy Landscape: Bridging Rural Areas with HVDC Solutions

A paradigm shift is evident in the energy landscape, with solar, wind (onshore and offshore), biomass, hydropower, and geothermal power plants transforming rural regions. To harness energy from these diverse sources and mitigate transmission losses over long distances, HVDC systems, along with DC switchgear, play a crucial role. Notably, the amalgamation of renewable power generation sources and HVDC transmission connections in nascent or ongoing projects is increasingly prevalent, mandating consistent system monitoring for optimal performance and fault protection.

Promising Prospects Amidst Complex Challenges:

While abundant opportunities beckon, the DC switchgear market is not devoid of challenges. The installation of upgraded DC switchgear faces multiple hurdles, including adverse environmental conditions, stringent regulations, and intricate technical considerations. These factors pose a potential risk to a nation’s economy. Additionally, the integration of smart devices enhances operational efficiency but also introduces security vulnerabilities. Cybersecurity concerns loom, encompassing issues like data theft and security breaches that could lead to power outages and blackouts. Furthermore, safeguarding substations, which include DC switchgear, necessitates multi-layered cybersecurity measures, potentially hindering the rising demand for DC switchgear.

Key Insights: Unveiling Dynamics in the DC Switchgear Market

Railway Segment: Leading Contributor in Projected Growth

Forecasts indicate that the railway segment will emerge as the most substantial contributor during the forecast period, driving the momentum of the DC switchgear market.

Capacity Matters: Thriving Sales of 750 V DC Switchgear

End users’ quest for heightened efficiency positions DC switchgear with a capacity of 750 V in the forefront, sustaining the highest sales figures.

U.S. Outlook: Robust Growth by 2025

Anticipated to witness a growth exceeding 5% by 2025, the DC switchgear market in the United States is propelled by government initiatives aiming to modernize and elevate existing distribution networks.

Outdoor Resilience: Dominance of Outdoor Installation

The outdoor installation segment is poised to claim a significant DC switchgear market share, attributed to its remarkable endurance against harsh climatic conditions, coupled with cost-effective and dependable operations.

Competitive Outlook: Leading Players in the DC Switchgear Market

Prominent entities making their mark in the DC switchgear market encompass Toshiba Infrastructure Systems & Solutions Corporation (Japan), Siemens (Germany), Hitachi Energy Ltd. (Japan), ABB (Switzerland), Eaton (Ireland), L & T (India), Lucy Electric (UK), and Hubbell Incorporated (United States).

Strategic Pursuits: Pathways to Market Dominance

In a bid to secure a substantial stake within the DC switchgear market, companies employ diverse strategies. These strategies encompass contracts and agreements, investments and expansions, as well as partnerships, collaborations, alliances, and joint ventures. Each of these tactics is instrumental in positioning companies at the forefront of the dynamic DC switchgear landscape.

Key Segments Covered:

By Component Type:

  • Power Distributor Switch Breaker
  • Switch Disconnector
  • MCCB
  • MCB
  • HRC Fuse
  • Earth Fuse

By Voltage Range:

  • Up to 750V
  • 750V to 1800V
  • 1800V to 3000V
  • 3000V to 10,000V
  • Above 10kV

By Insulation Type:

  • Air Insulated
  • Gas Insulated
  • Oil Insulated
  • Vacuum Insulated
  • Solid Insulated

By Deployment Type:

  • Fixed Mounting
  • Plug-In
  • Withdrawable Units

By Application:

  • Railways
  • Solar Farms
  • Battery Storage
  • EV Charging Infrastructure
  • Marine
  • Power Generation and Distribution
  • Others

By Region:

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

Browse Related Reports:

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The medium voltage transformer market is projected to be worth USD 19,080.56 million by 2033.

The power transformer market is poised to grow at a 5% CAGR from 2023 to 2033.

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