Market Research Blog

In 2023, the global modular construction market is expected to be worth US$ 97.51 billion. The adoption of modular construction is projected to develop at a 7.4% CAGR to reach US$ 199.11 billion by 2033.

One of the key drivers of growth in the modular construction industry is the increasing demand for affordable housing and infrastructure solutions. Modular construction offers a cost-effective and efficient way to construct high-quality buildings in a short period. Hence, making it an ideal solution for affordable housing projects and infrastructure development.

The modular construction industry still faces several restraints despite promising growth prospects. One of the primary restraints is the perception that modular construction is not as durable or high-quality as traditional construction methods. This perception often results in skepticism among potential clients, making it difficult for modular construction companies to gain market share.

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The modular construction industry also presents several opportunities for growth and development. With the growing demand for sustainable and eco-friendly construction solutions, modular construction has emerged as an ideal solution due to its minimal impact on the environment. Additionally, advancements in technology have made modular construction cost-effective, and easy to implement.

The latest trends in the modular construction industry include the adoption of digital tools and automation to increase efficiency and reduce costs. This trend is driven by the need to streamline the building process and reduce the reliance on manual labor.

Companies are increasingly investing in innovative solutions that integrate design, engineering, and construction to provide end-to-end services to clients. Overall, the modular construction industry is poised for significant growth and development in the coming years.

Key Takeaways from the Modular Construction Market:

• With a predicted market share of 35% by 2033, the modular construction sector in the United States is forecasted to increase significantly over the projection period.
• Germany is predicted to hold a 20% market share in the worldwide modular construction industry by 2033.
• By 2033, China is estimated to have a 25% market share in the global modular construction industry.
• With an anticipated market share of 10% by 2033, Japan’s modular construction industry is expected to increase moderately during the forecast period.
• Relocatable modular construction dominates the modular building sector, with a predicted market share of 60% in 2023.
• Steel modular construction is expected to have a notable market share of 45% in 2023.

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Plethora of Opportunities for New and the Previously Dominating Players in the Industry

The modular construction industry is becoming increasingly competitive as many players enter the market and existing companies look to expand their operations.

To stay at the top, key players in the industry are making huge investments in research and development to enhance their product offerings and increase efficiency. Additionally, companies are expanding their global reach through mergers and acquisitions and strategic partnerships. For instance,

• In 2021, Skanska AB acquired a 50% stake in UK modular builder Ideal Modular Homes.

The modular construction industry still faces several challenges despite the promising growth prospects. One of the key challenges is the perception that modular construction is not as durable or high-quality as traditional construction methods. Additionally, the lack of skilled workers and the limited number of modular factories pose logistical challenges.

New entrants in the modular construction industry have a range of investment opportunities to explore. With the demand for sustainable and affordable housing solutions on the rise, there is a growing market for modular construction.

Advancements in technology and the adoption of digital tools have made modular construction efficient and lucrative, providing new entrants with the opportunity to compete with established players.

Key developments in the Modular Construction Industry:

• Daiwa House, Japan’s largest construction business, announced cooperation with Capital Bay in October 2022 to supply modular construction throughout Europe.

In June 2022, Laing O’Rourke Delivery Ltd. completed the new HS2 Interchange Station in Solihull, serving as the center of the country’s new high-speed train network.

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Key Players in the Modular Construction Industry

• Bouygues Construction
• Premier Modular Limited
• KLEUSBERG GmbH & Co KG
• Sekisui House Ltd.
• LAING O’ROURKE
• Red Sea International
• Skanska
• DuBox
• Wernick Group
• CIMC Modular Building Systems Holdings Co., Ltd
• Riko Hiše d.o.o
• Lendlease Corporation
• Modulaire Group
• Guerdon, LLC
• Hickory Group

Global Modular Construction Market by Category

By Product:

• Relocatable
• Permanent

By Material:

• Wood
• Steel
• Concrete
• Others

By Application:

• Residential
• Commercial
• Industrial
• Healthcare
• Educational

By Region:

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

About the 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.

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

Single-use Filtration Assemblies Market Size: The global single-use filtration market is set to reach US$ 3.53 billion in 2023. By 2033, the market valuation is forecast to cross US$ 19.28 billion, with a CAGR of 18.5%.

Americas Steel Pipes Market Share: Global America’s steel pipes market is set to record a market value of US$ 24.8 million in 2023, pushing the market size to US$ 35.3 million in 2033. A CAGR of 3.6% indicates positive market growth over the forecast period.

Water Electrolysis Machine Market Demand: Worldwide water electrolysis machine sales are expected to be valued at around US$ 12.6 billion at the end of 2023. The market for water electrolysis machines is expanding at an accelerated rate of 7.3% due to rising worldwide industrialization.

Commercial Booster Pumps Market Growth: Global commercial booster pumps market stands at US$ 5,809 million in 2023 and is predicted to reach a valuation of US$ 12,084.3 million by the end of 2033.

Domestic Booster Pumps Market Analysis: The adoption of domestic booster pumps is expected to increase at a CAGR of 7.2% during the forecast period. The domestic booster pumps market size is anticipated to rise from US$ 2,860.1 million in 2023 to US$ 5,732.3 million in 2033.

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The global Single-Use Filtration Assemblies Market is predicted to be worth US$ 3.53 billion in 2023 and rise to US$ 19.28 billion by 2033. Initially, the global market was expanding at a CAGR of 19.8% from 2018 to 2022.

Smaller batch sizes, increased demand for customized treatments, and the need for adaptive and scalable solutions are the leading factors fostering the development of single-use technologies in the pharmaceutical industry.

Spending on pharmaceutical research and development for the product has increased, since single-use assemblies are essential to both small- and large-scale biopharmaceutical production.

The increasing use of single-use filter assemblies has raised questions about the impact single-use plastics have on the environment. The single-use filter assemblies sector is growing, thus the industry must come up with plans to reduce waste and promote sustainability.

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Due to the rewards, single-use meetings have been increasingly popular over the past ten years. Many pharmaceutical and bioengineering companies plan to build their single-use manufacturing facilities in emerging nations like China, India, and South Korea, in order to position these countries as hubs for biocatalytic insourcing. This is due to the favorable controlling environment and the economy of measure in these countries.

Key Takeaways

• In 2022, the United States was expanding at a share of 36.4% in the single-use filtration assemblies market.
• The single-use filtration assemblies market was significantly expanding, with a size of US$ 2.98 billion in 2022.
• Due to existing players’ continuous innovation, the market in the United States is expected to have a CAGR of 14.9% by 2033.
• Due to the market’s enormous potential and a strong emphasis on sustainability, analysts expect it is likely to rise 1.18 times between 2022 and 2023.
• The market in India is anticipated to expand at an adequate CAGR of 14% by 2033.
• In 2022, Europe was expanding at a 29% share in the single-use filtration assemblies market.
• Based on type, membrane filtration dominated the market with a share of 47.8% in 2022 and continues to lead the market during the forecast period.
• Based on application, bioprocessing/biopharmaceuticals dominated the market with a share of 41.6% in 2022 and continue to lead the market during the forecast period.
• Based on product, the filter segment dominated the market with a share of 21.2% in 2022 and continues to lead the market during the forecast period.

Critical Approaches Increasing Top Players’ Wealth

Merck Millipore, Sartorius AG, MEISSNER FILTRATION PRODUCTS, Danaher, Repligen Corporation, Cellab, Medela, Thermo Fisher Scientific Inc., 3M Purification, and Repligen Corporation are important participants in the market.

To effectively meet the growing demand for single-use filters among end users, notably bio manufacturers, participants are expanding their portfolio. Additionally, the companies are investing in research and development to produce cutting-edge single-use filter assemblies that function and perform better than their conventional counterparts.

Recent Developments

• Albumedix, a company focused on science, was totally acquired by Sartorius in August 2022. The company aimed to enhance and bolster its reputation as a provider of cutting-edge media that includes media and crucial supporting components with just this acquisition.
• In December 2021, Sartorius teamed with Sonderanlagenbau HOF, a fully integrated design and construction environment. The companies worked together to include the vertical plate freeze-thaw machines in Sartorius’ product range, in order to provide a full line of acceptable freeze-thaw supplies and equipment.

Key Segments

By Type:

• Membrane Filtration
• Depth Filtration
• Centrifugation
• Others

By Applications:

• Pharmaceuticals Manufacturing
• Bioprocessing/Biopharmaceuticals
• Laboratory Use

By Product:

• Filters
• Cartridges
• Membranes
• Manifold
• Cassettes
• Syringes
• Others

By Region:

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

About Us

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient 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 favour the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

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

The System on Module (SoM) Market is experiencing rapid growth driven by urbanization, digitization, and the increasing online presence of businesses and individuals. As advanced Artificial Intelligence technology gains traction, the demand for SoM is skyrocketing. This surge is particularly evident in the consumer electronics sector, where smartphones, laptops, tablets, and computers are constantly pushing the boundaries of performance.

The system on modules market is expected to be worth US$ 1.15 billion in 2023, rising to US$ 4.65 billion by 2033. The market is expected to grow at a CAGR of 15% during the forecast period.

Urbanization, digitization, online presence, and the adoption of advanced Artificial Intelligence technology are driving the growing demand for system on module. Improving the performance of consumer electronics such as smartphones, laptops, tablets, and computers is propelling the market forward. Electronic manufacturers design a chipboard in the system to perform specific tasks, increasing the demand for system on module.

The advancement of 5G, the Internet of Things, and other advanced technologies drives market growth. Several end-use industries are increasing their use of system on module, including transportation, medicine, industrial automation, and entertainment. The growing demand for high accuracy, advanced memory, and a low risk of system errors is driving the adoption of system on module.

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The market opportunities are flourishing for automobile manufacturers developing advanced autonomous vehicles with machine learning and sensor technologies. Growing demand for embedded systems and cloud-based technologies are increasing the sales of system on module. Wearable and wireless device innovation, such as smartwatches, is fueling market growth. The use of industrial robots and machine learning technology expands the market.

Key Takeaways:

• The system on module market is expected to have a valuation of US$ 4.65 billion by 2033.
• With a CAGR of 15%, the global market is expected to increase from 2023 to 2033.
• The United States system on module market is anticipated to secure a maximum share through 2033.
• In the historical period, the market secured a CAGR of 14.1% between 2017 and 2022.
• In the historical period, the market captured US$ 1.01 billion between 2017 and 2022.

Who is Winning?

The prominent vendors are the leading players in the market that invest a vast amount in acquiring maximum profits. These focus on consumers’ expectations and developing better innovative products that satisfy their requirements. The players are adopting several marketing tactics with advanced technologies to achieve their goals in the global market.

Marketers are developing several advanced devices for end-use industries to reduce workloads and labor work. They are expanding their business to another height through their marketing skills, ideas, and research & development activities. These marketing tactics are mergers, product launches, acquisitions, partnerships, and collaborations.

Other Prominent Players in the Market are:

• Advantech Co Ltd.
• ConnetTech Inc.
• AAEON Technology
• Avnet Inc.
• EMAC Inc.
• Avalue Technology
• Axiomtek Co. Ltd.
• Eurotech Inc.
• National Instruments
• SECO S.P.A.
• VIV Technologies Inc.
• Kontron ST & G
• Phytec
• Microchip Technology
• Emac Inc.
• Unex Technology
• Digi International Inc.
• Variscite

Recent Developments in the Market are:

• In October 2021, Seco announced its acquisition with Garz and Fricke Group to expand its strength in the European market.
• In September 2021, TechNexion announced its partnership with Emteria for developing and uplifting embedded products on the Android operating system.
• In 2022, SiFive partnered with BrainChip to design optimized chips with machine learning and Artificial Intelligence technologies for computing edge.
• In 2020, e2-s and SoMLabs collaborated on custom design products based on SOMs.

Market by Category

By Product:

• Power Architecture
• ARM Architecture
• x86 Architecture

By Application:

• Medical
• Transportation
• Industrial Automation
• Entertainment
• Test & Measures

By Standard:

• SMARC
• Qseven
• COMExpress

By Region:

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

About Us

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient 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 favour the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Future Market Insights Inc.   
Christiana Corporate,
200 Continental Drive, 
Suite 401, Newark, 
Delaware – 19713, USA   
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse latest Market Reports: https://www.futuremarketinsights.com/reports

The industrial gearbox market is predicted to be worth USD 30.08 billion in 2023, and rise to USD 47.16 billion by 2033. Demand is expected to increase at a CAGR of 4.6% during the projected period.

Given that industrial gearboxes are used to control the speed and torque of production-related machinery and components, demand for these gearboxes is expected to rise as smart manufacturing becomes more common.

The adoption of smart manufacturing is anticipated to raise the sales of industrial gearboxes, which are a crucial component of the industrial automation process. As the robotics industry develops and new technologies become available, manufacturers are likely to expect higher profit margins. Due to this technology, industrial gearbox makers now have greater opportunities.

With the ability to precisely control the movements of industrial robots, gearboxes can be made to provide more precise motion control for industrial processes. Governments of different nations have taken a number of steps to support the industrial gearbox growth in sector. In order to do this, financial incentives must be provided for the use of energy-efficient technology, such as industrial gearboxes, as well as sector-specific research and development programs.

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Manufacturers are focusing on designing robust and effective gearboxes for power applications. The market participants also stand to gain financially from the increase in demand for energy-efficient equipment. Producers of industrial gearboxes are focusing on developing technologically advanced gearboxes since they hasten market expansion.

Key Takeaways From The Industrial Gearbox Market Report:

• By 2033, the United States is likely to rule the industrial gearbox market, with a CAGR of 5.1%.
• The industrial gearbox market increased at a 4.3% CAGR between 2016 and 2022, citing FMI’s study.
• The industrial gearbox market was expanding, with a value of US$ 28.75 billion in 2022.
• The expansion in China is anticipated to expand at an adequate CAGR of 9.5% by 2033.
• Japan’s industrial gearbox market is expected to expand significantly, with a CAGR of 4.5% by 2033.
• In 2023, the industrial gearbox sector is likely to increase in India with a size of US$ 15.56 billion.
• The expansion in the United Kingdom is anticipated to expand at an adequate CAGR of 5.1% by 2033.
• Based on type, the helical industrial gearbox led the market share in 2022, and continues to dominate the sector during the forecast period.
• Based on design, the parallel axis segment is projected to lead the market by 2033.
• Based on end user, the power generation sector led the market share in 2022, and continues to dominate the sector during the forecast period.

Key Strategies in the Industry

In order to remain competitive, businesses constantly innovate to provide their customers with high-quality products and services. Fundamental market players frequently announce significant business decisions, which have a favorable or negative impact on the market.

• The Nidec Corporation created an automated guided vehicle with a vision-based tracking system in August 2020. By concentrating on the device, among other things, the team at Nidec Committed Shimpo has contributed to improving productivity, automation, and development.
• Nanjing High Accurate Drive Equipment Manufacturing Group Co. Ltd received an order for 656 gearboxes in March 2021, specifically for the PDM460 dual stage gearboxes.

Competitive Environment

Competitors Seek Innovation to Gain a Foothold in the Market

To remain competitive, businesses must constantly innovate in order to provide high-quality goods and services to their customers. They spend a lot of money on research and development to stay ahead of their competitors and create new products and innovations.

They are also focusing on cost-cutting initiatives in order to reduce their overall manufacturing costs and maintain their competitiveness. Companies are also focusing on expanding their geographic reach in order to gain access to new markets and clients.

Key players:

1. Bonfiglioli SPA
2. Sumitomo Heavy Industries
3. SEW Eurodrive
4. Nidec Motor Corporation
5. Bauer Gear GmbH
6. Emerson Electric
7. Elecon Engineering Co. Ltd
8. Dana Brevini Power Transmission
9. Johnson Electric Holding Limited
10. Flender GmbH
11. Comer Industries S.p.A.
12. China High-Speed Transmission Equipment Group Co., Ltd

Industrial Gearbox Market Segmentation:

 By Type:

• Helical
• Planetary
• Bevel
• Worm
• Spur (in-line)

By Design

• Parallel Axis
• Angular Axis
• Others

By End User

• Material Handling
• Construction
• Power Generation
• Mining
• Food & Beverage
• Manufacturing Industry
• Packaging & Labeling
• Others

By Region

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

About the 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
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