Market Research Blog

According to a Future Market Insights (FMI) report, it is expected that size of the India residential solar inverter market would increase with annual growth of 7.9% by 2023, anticipated to be valued at over USD 148.2 Million.

By 2033, the market is projected to reach a valuation of USD 330.2 Million. It is set to develop significantly between 2023 and 2033, with a CAGR of 8.3%. In 2022, the market had a value of USD 137.3 Million.

National and state governments have been offering subsidies for those who choose solar power as part of the push toward renewable energies. These include cash awards and allowances that can be applied to consumers’ electricity bills.

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Along with subsidies, the India market has seen a rise in demand for power bill cost savings. This is another key factor anticipated to expand the market for solar products, ultimately leading to an exponential rise in the need for solar inverters across the nation.

Several people have shifted to renewable energy options as technology has advanced at an accelerating rate. India market for solar energy systems has expanded significantly in recent years.

Due to a number of factors, the market has also seen a notable price drop in solar inverters. On-grid solar power systems help consumers lower their monthly electricity bills, as well as their long-term operating costs and maintenance expenses.

Most of the Indian clients choose medium-capacity solar inverters with a 6 kW maximum output. They are doing this in an effort to equip their homes with high-performance and energy-efficient items.

On average, homes in the country use less than 100 energy units each month. Solar energy systems with inverters around 6 kW are adequate for single-family homes as they often only require a small quantity of electricity.

Future Market Insights (FMI) projects that West India would account for a sizable portion of the market. On the other hand, South and North India are predicted to produce futuristic opportunities with strong growth rates. According to projections, West India will produce around 7/10ths of the market value for household solar inverters in India.

Key Takeaways from India Residential Solar Inverter Market Study:

• Demand for residential solar inverters in India witnessed moderate growth at a CAGR of about 0% between 2018 and 2022.
• West India is projected to contribute to about 3/5th of the total market value share by 2033.
• By product type, the on-grid inverter segment is expected to create an absolute dollar opportunity of US$ 135.7 Million between 2023 and 2033.
• In terms of capacity, the 2 to 5 kW and 5 to 7 kW segments are set to generate more than 85% of the India market share in 2033.
• Based on phase, single phase solar inverters are predicted to contribute to about 87% of the India residential solar inverter industry share by 2033.

Competitive Landscape: India Residential Solar Inverter Market

Leading players are competing on price to attract customers who are looking for affordable solar solutions. This includes offering discounts, promotions, and financing options. Price competitiveness can also be an effective strategy for reaching new customers and increasing sales volume.

A few local firms are investing in customer service and support to provide a high-quality experience for customers. This includes providing technical support, training, and installation assistance. Good customer service can help them to build loyalty and lead to positive word-of-mouth referrals, which can drive future sales.

For instance,

• In March 2021, Fuji Electric India declared that it is planning to unveil two new segments, namely, solar inverters to operate large projects and uninterrupted power supply systems for data centers. Both these products are expected to be manufactured at the company’s factory located in Pune, Maharashtra.

Key Companies Profiled in the India Residential Solar Inverter Industry Report:

• Lento Industries Pvt. Ltd
• Delta Electronics Inc.
• Sungrow Power Supply Co. Ltd.
• Luminous Power Technologies Private Limited
• Kehua Data Co., Ltd.
• Sineng Electric Co. Ltd.
• Polycab India Ltd
• Ginlong Technologies Co., Ltd.
• Hitachi Hi-Rel Power Electronics Private Limited
• GOODWE
• SMA Solar Technology AG
• Huawei Technologies Co., Ltd.
• Others

India Residential Solar Inverter Industry Segmentation Analysis:

By Product Type:

• On Grid
• Off-grid
• Hybrid

By Capacity:

• Up to 2 kW
• 2 to 5 kW
• 5 to 7 kW
• 7 to 10 kW

By Phase:

• Single-Phase
• Multi-phase

By Region:

• North India
• West India
• South India
• East India

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.

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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The USA hydrogen electrolyzer market is poised for remarkable growth, with projections indicating a robust CAGR of 23.8% from 2023 to 2033. By 2033, it is expected to attain a valuation of approximately USD 790.8 million, marking substantial expansion from the anticipated valuation of around USD 93.2 million in 2023.

Notably, the demand for polymer electrolyte membrane (PEM) electrolyzers is anticipated to play a pivotal role, contributing to over 45% of the market value share by 2023. This significant market share is attributed to the sustained demand for supplementing the natural gas grid to enhance efficiency and facilitate vehicle fueling.

Hydrogen-producing electrolyzers serve as pivotal devices, employing electrolysis to produce hydrogen through the separation of oxygen and hydrogen molecules, driven by electrical energy. As the market continues to evolve, these electrolyzers are expected to play a crucial role in meeting the growing demand for hydrogen across various sectors.

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Growth Factors

The surge in demand for hydrogen electrolyzers in the USA can be attributed to several factors, including legislative initiatives aimed at reducing carbon emissions and increasing financial backing for renewable energy initiatives. The market stands to witness significant growth with the emergence of new and more efficient electrolyzer technologies.

Government-led endeavors to mitigate carbon emissions play a pivotal role in propelling sales of hydrogen electrolyzers. In the USA, legislative measures and policies are actively promoting the adoption of sustainable energy alternatives, particularly hydrogen fuel.

For instance, the USA General Services Administration (GSA) has committed to transitioning to exclusively renewable energy sources for its federal real estate portfolio by the year 2025.

Moreover, the hydrogen electrolyzer industry is expected to receive a boost from substantial adaptations in manufacturing processes triggered by the pandemic in 2020. As businesses pivot towards cleaner, more reliable, and environmentally friendly energy sources, strategic alignment becomes imperative.

Market Trends

The utilization of hydrogen in refinery hydro-processing has witnessed a notable uptick in recent years, along with a growing presence in various secondary end-user sectors, driving demand in the USA.

Specifically, the USA has experienced a significant surge in the demand for hydrogen, particularly in the production of ultra-low sulfur diesel fuel.

Furthermore, the escalating demand for environmentally sustainable energy sources has propelled the market expansion of hydrogen electrolyzers in the USA. This surge is fueled by the increasing preference for cleaner energy alternatives.

Additionally, there is a notable trend towards on-site hydrogen generation among diverse end users, owing to several compelling environmental and economic advantages. These benefits include reduced transportation costs and emissions, as well as mitigated risks associated with gas handling and storage inadequacies.

Key Companies

• ABB Ltd.
• Bloom Energy
• Nel Hydrogen
• Air Liquide
• Plug Power Inc.
• Giner Inc.
• Ballard Power Systems
• ITM Power Plc
• Siemens AG
• Tianjin Mainland Hydrogen Equipment Co. Ltd
• Gaztransport & Technigaz
• Pure Energy Centre
• Idroenergy
• Erredue SpA
• Swiss Hydrogen SA
• Shandong Saikesaisi Hydrogen Energy Co., Ltd.
• Next Hydrogen

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USA Hydrogen Electrolyzer Market Outlook by Category

By Product Type:

• Polymer Electrolyte Membrane (PEM) Electrolyzer
• Alkaline Electrolyzer
• Solid Oxide Electrolyzer

By Capacity:

• Low (<= 150 kW)
• Medium (150kW to 1mW)
  • 150 to 400 kW
  • 400 to 750kW
  • 750 to 1mW
• High (> 1mW)
  • 150 to 400 kW
  • 400 to 750kW
  • 750 to 1mW

By Outlet Pressure:

• Low (≤10 bar)
• Medium (10 bar to 40 bar)
• High (≥ 40 bar)

By End-use Industry:

• Ammonia
• Methanol
• Refinery/Hydrocarbon Processing
• Electronics
• Energy
• Power to Gas
• Transport
• Metal Production & Fabrication
• Pharma & Biotech
• Food & Beverages
• Glass Industry
• Others

By Region:

• West USA
• Midwest USA
• Northeast USA
• South USA

Author:

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

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

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

About Future Market Insights (FMI)

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

Contact Us:        

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

The United Kingdom Photovoltaic Mounting System Market is set to witness a sustained dominance of ground-mounted PV systems, as they maintain their position as the preferred choice for large-scale installations. However, over the next decade, the sales of rooftop-mounted PV systems are projected to outpace both ground-mounted and carport-mounted alternatives. This surge in rooftop installations can be attributed to various factors, including increased awareness of the benefits of distributed generation, favorable government incentives, and growing interest from residential and commercial consumers in harnessing solar energy to meet their electricity needs.

The United Kingdom photovoltaic mounting system market size is set to increase from US$ 730.9 million in 2023 to US$ 1643.8 million by 2033. Overall sales of photovoltaic mounting systems in the United Kingdom will surge at 8.4% CAGR through 2033.

Ground mounted PV systems segment will continue to dominate the United Kingdom market. While sales of rooftop mounted PV systems will outpace both ground mounted and carport mounted ones over the next ten years.

Growing demand for renewable energy and government initiatives to promote clean energy are key factors driving the market.

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In recent years, the United Kingdom has become a lucrative market for photovoltaic mounting system manufacturers. This is due to rising adoption of renewable energy sources and favorable government initiatives.

These initiatives include the Feed-In Tariff (FIT) scheme, which provides financial incentives for homeowners and businesses to install renewable energy systems, including photovoltaic mounting systems.

The Renewable Energy Association (REA) is also playing a significant role in promoting the use of renewable energy in the United Kingdom.

The combination of government incentives and the efforts of industry bodies such as the REA will continue to drive the adoption of photovoltaic systems in the United Kingdom. This in turn will support the expansion of the United Kingdom photovoltaic mounting system market.

Further, development of novel photovoltaic mounting systems is likely to boost the United Kingdom market through 2033.

Key Takeaways from the United Kingdom Photovoltaic Mounting System Market Study

• Photovoltaic mounting system sales in the United Kingdom will surge at 4% CAGR through 2033.
• By 2033, the United Kingdom market value will exceed US$ 1,643.8 million.
• Based on product type, ground mounted photovoltaic system segment will hold around 59%market share during the estimated period.
• In terms of sales channel, B2C is likely to account for more than 37%of the United Kingdom market.
• By end use, residential segment will thrive at 3% CAGRover the next ten years.

“Adoption of photovoltaic mounting systems in the United Kingdom is being pushed by rising demand for renewable energy and government initiatives & incentives. Concerns regarding high costs of initial investment could deter a sizeable chunk of buyers. To this end, manufacturers would find substantial opportunity in creating cost-effective and durable products for the United Kingdom market. ” says a lead Future Market Insights (FMI) analyst

Competitive Landscape

Leading manufacturers and providers of photovoltaic mounting systems include Unirac Inc., Schletter Inc., SunPower Corporation, Mounting Systems GmbH, and Renusol GmbH.

These companies offer a wide range of PV mounting systems, including rooftop, ground-mounted, and floating systems, and are continuously innovating their products to stay ahead in the market.

• In January 2022, K2 Systems announced that it had launched a new mounting system for commercial rooftop installations called the TriCon 2.0. This system is designed for high flexibility and adaptability to accommodate a wide range of solar cells.
• In October 2021, GSE Integration announced that it had supplied its PV mounting systems for a 14.5 MW solar project in the UK. Not only was this more efficient than any of their previously designed systems, it also offered improved performance.

Key Companies Profiled

• SunPower Corporation
• Bauder Ltd
• Armacell UK Ltd
• EcoFasten Solar
• Hilti (Great Britain) Ltd
• K2 Systems Ltd.
• Sunfixings Ltd.
• Sunsquare Ltd
• BayWa r.e. UK Ltd
• Clenergy
• Flexisolar
• Mounting System GmbH
• Schletter Group

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The research report analyzes the market demand trends of photovoltaic mounting systems. The United Kingdom Market estimation and growth projection are based on factors such as end-use industries development, COVID-19 crisis impact, replacement ratio, and adoption rate of photovoltaic mounting systems.

As per Future Market Insights’ (FMI) research scope, the photovoltaic mounting system market has been studied and segmented based on product type, technology, material type, sales channel, and end use. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, the supply side and demand side.

United Kingdom Photovoltaic Mounting System Market Segmentation

By Product Type:

• Rooftop
• Ground Mounted
• Carport Mounting Structure

By Sales Channel:

• Business to business(B2B)
• Business to Customer(B2C)

By Material Type:

• Aluminum
• Steel
• Others

By Technology:

• Fixed
• Tracking

By End Use:

• Residential
• Commercial
  • Offices
  • Recreational Areas
  • Educational Institution
  • Hospitality
  • Healthcare Facilities
  • Others
• Industrial
• Municipal and Government Facilities
• Others

About Future Market Insights (FMI)

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 favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact Us:

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

The Air Filters Market is experiencing a significant upsurge, fueled by a growing emphasis on regulatory initiatives aimed at enhancing air quality worldwide. Governments of various countries are taking proactive measures by implementing stricter regulations and standards to curb air pollution, which, in turn, has spurred a surging demand for advanced air filtration systems.

The air filters market size is expected to increase from US$ 16.53 billion in 2023 to US$ 30.33 billion by 2033, at a CAGR of 6.26%.

The primary driver of the market is the increasing awareness of the health hazards associated with air pollution, which is responsible for over 7 million premature deaths worldwide each year.

Regulatory initiatives aimed at improving air quality are also driving the market, with many countries implementing stricter regulations on air quality, which has led to increased demand for air filtration systems.

The types of air filters available in the market include HEPA filters, activated carbon filters, electrostatic filters, UV-C filters, and others. HEPA filters are the type of filter that is extensively used, as they can remove particles as small as 0.3 microns with high efficiency. In 2022, the HEPA segment acquired a prominent share of the industry, accounting for 40.3% of global revenue.

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Air purifiers are used in schools, malls, conference centers, workplaces, hospitals, hotels, theaters, and other commercial settings such as recreation centers and amusement parks.

Rising urban air pollution levels pose challenges for local governments. As more than 70% of the millennial population works indoors, an increase in cases of fine dust and infectious disease has been noticed.

This growth is due to increasing pollution levels and rising demand for air filters in residential and commercial areas, with further expansion expected as public awareness of the health risks associated with air pollution increases.

However, technological limitations to the air filters combined with low awareness among the population may act as a barrier to market expansion. Nevertheless, rigorous research and development activities with constant support from regulatory authorities are more likely to liquidate these challenges.

Key Takeaways

• Dust collectors are gaining ground and are anticipated to account for more than 28% of revenue in 2022 due to their ability to control air quality.
• MIS collectors, baghouse filters, and cartridge filters are expected to support market expansion in addition to having a sizable air filter market share.
• In 2022, the commercial segment took control of the sector, accounting for 57.0% of global revenue.
• The North American air filter market is expected to be worth US$ 9.63 billion by 2033, at a CAGR of 6.3% during the forecast period.
• The European market is expected to record a consistent revenue CAGR of 6.4%.
• FMI predicts that the India air filter market is likely to record a CAGR of 11.97% during the forecast period and is likely to reach a market valuation of US$ 1,966.71 million by 2033.

Competitive Landscape

Prominent key players are focusing on acquiring mid-sized companies to expand their global presence. For example, Daikin Industries, Ltd. subsidiaries AAF and Nippon Muki Co. Ltd. are focusing on developing product portfolios for applications in engineering fields, factories, and buildings, among others. Furthermore, market participants are focused on producing effective filters at low manufacturing costs.

Recent Developments

• PURAFIL, INC. installed ‘PuraShield Smart 1000 portable filtration systems’ in September 2020 to improve indoor air hygiene at Northwestern University Athletics & Recreation. It is a multi-stage original filtration solution that removes nearly 99.99% of aerosols from the air, including bacteria and viruses.
• MANN+HUMMEL and its subsidiary Tri-Dim Filter Corporation began supplying HEPA Filters in Ford respirators in April 2020. Germs, microbiological contamination, and viruses are reliably removed from the supply air by these H13 HEPA Filters.

Key Segments Covered in the Market Report

By Type:

• Cartridge filters
• Dust collector
• HEPA filters
• Baghouse filters
• Others (Mist filters)

By End User:

• Residential
• Commercial
• Industrial

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific Excluding Japan (APEJ)
• Japan
• The Middle East & Africa (MEA)

About Future Market Insights (FMI)

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

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

Identify key trends, drivers, and challenges in the market, which will help vendors improve their strategies to stay ahead of their competitors. View our PDF Sample Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-16910

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.

Browse the Full Report: https://www.futuremarketinsights.com/reports/modular-construction-market

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.

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705

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For Sales Enquiries: sales@futuremarketinsights.com

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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