Market Research Blog

In a steadily advancing trajectory, the USA commercial walk-in refrigeration market is projected to attain a substantial valuation of US$ 1,980.1 million by the year 2032, with a commendable Compound Annual Growth Rate (CAGR) of 4.31% from 2022 to 2032.

This robust upswing in the sector finds its roots in the indispensable role played by commercial walk-in refrigeration systems, serving as silent sentinels that safeguard the freshness and integrity of various perishable goods. Their pivotal function underscores their paramount significance in sustaining the fabric of our modern lifestyle, protecting the continuity of daily routines from potential disruptions caused by the absence of these crucial systems.

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Encompassing both coolers and freezers, Commercial Walk-In Refrigeration constitutes enclosed cold storage rooms with a footprint of under 3000 square feet, purpose-built for the refrigeration and freezing of perishable commodities including foodstuffs, beverages, medications, and more. These specialized refrigeration units play a pivotal role within the intricate framework of the cold chain network, spanning an array of industries such as food and beverage, commercial kitchens, retail food establishments, pharmaceuticals, chemicals, and beyond.

The recent surge in the adoption of Commercial Walk-In Refrigeration underscores a profound shift in lifestyle and dietary preferences towards convenient, ready-to-eat products. This transition has ushered in a significant transformation within the culinary landscape, impacting the types of sustenance embraced and the temporal allocation dedicated to these activities. Responding to this evolving landscape, stakeholders within the food industry have substantially increased investments in walk-in coolers and freezers.

Notable Insights from the Commercial Walk-In Refrigeration Market Analysis:

• During the envisaged projection interval, the Commercial Walk-In Refrigeration segment, specifically denoted by the technology variant “Remote Condensing,” is poised to contribute substantially, with an estimated value reaching approximately US$ 544.8 million in the year 2022.
• With regard to the Sales Channel segmentation, the Original Equipment Manufacturer (OEM) channel is poised to emerge as a dominant force, accounting for over 88.4% of the U.S. market share. This sector is projected to sustain a noteworthy value Compound Annual Growth Rate (CAGR) of approximately 4.21% throughout the stipulated projection period.
• In the expansive U.S. market, the escalating demand for Commercial Walk-In Refrigeration finds expression through the prism of its place of use. This particular facet of the market is anticipated to demonstrate a robust value CAGR of 4.31%.
• Among the various sectors constituting the U.S. Commercial Walk-In Refrigeration landscape, the Commercial Restaurants sector emerges prominently, showcasing a prospective expansion rate of 5%. This momentum is a direct outcome of escalated investments in real estate and the comprehensive development of commercial infrastructure.
• Geographically, the Southern United States (U.S.) region is poised to hold a substantial share of approximately 42.2% in the year 2022. This regional stronghold substantiates the notable presence and influence of the Commercial Walk-In Refrigeration market within the southern landscape.

“Growing governmental and private investment in the U.S. region, particularly in Southern and Western U.S. markets, is driving up demand for Commercial Walk-In Refrigeration therein. Commercial walk-in refrigerator systems are anticipated to be adopted more frequently by commercial restaurants, retail food service, and a few other end use industries. Manufacturers are boosting their partnerships and collaborations with lower market players of commercial refrigeration manufacture within country in order to get into the higher market.” says Future Market insights analyst.

Key Players Profiled:

• Panasonic Corporation (Hussmann)
• Parker Hannifin Corp.
• TMP Manufacturing Company
• Standex International Corporation
• Dover Corporation
• Welbilt, Inc.
• Zero Zone, Inc.
• USA Cooler
• SRC Refrigeration
• American Panel Corporation
• Arctic Industries Inc.
• Amerikooler LLC
• Commercial Cooling – Par Engineering Inc.
• Thermo-Kool
• Bally Refrigerated Boxes Inc.
• Norlake Inc.
• Air Services & Refrigeration Specialties Inc.

Key Segment Covered:

USA Commercial Walk-In Refrigeration by Technology:

• Self-Contained
• Remote Condensing
• Multiplex Condensing

USA Commercial Walk-In Refrigeration by Sales Channel:

• OEM
• Aftermarket

USA Commercial Walk-In Refrigeration by Place of Use:

• Indoor
• Outdoor

USA Commercial Walk-In Refrigeration by End Use:

• Pharmaceutical
• Research Laboratories
• Retail Food Services
• Hospitals
• Commercial Restaurant
• Others

USA Commercial Walk-In Refrigeration by Region:

• North East USA
• South USA
• Midwest USA
• West 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 5000 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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During the forecast period, the external combustion engine market is anticipated to register a CAGR of 3.9%. The market is anticipated to reach a value of US$ 604.3 million in 2022 and US$ 889.0 million by 2032.

As it is compressed by the combustion of an external fuel through the heat exchanger or an engine wall, the demand for external combustion engines is increasing. However, the external combustion engine market share is likely to increase due to the engine’s weight, bulk, and size in terms of structural design. Aside from these characteristics, external combustion engine has low noise and emission levels, which raises demand for them.

However, Stirling engines and steam engines are the two most common types of external combustion engines. Due to their superior efficiency to steam engines, Stirling engines stand out as one of the most popular among these and are likely to see increased use.

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The big capacity segment dominated the global external combustion engine market in terms of revenue shares in 2021, and this trend is anticipated to continue throughout the forecast period.

They can also operate quietly during the forecast period and can use any type of heat source. Many different applications, including thermal power plants, nuclear power plants, ships, trains, and pumps, use external combustion systems. A completely new single-piston combustion engine is currently being developed by ECT.

Advancing and Constraint Factors in the External Combustion System Market

Drivers:

Due to its flexibility in arrangement and ability to use any source of heat, the market for external combustion systems is anticipated to grow over the course of the forecast period. Fuel is burned by the engine outside of the power cylinder, which is anticipated to play a significant role during the forecast period.

Additionally, external combustion engines use heat from sources like solar, geothermal, biomass, or municipal waste. These elements support the market’s expansion during the anticipated period. Additionally, flexibility in an arrangement is possible to further support the external combustion engine over the forecast period due to external combustion.

Aside from that, the market is being driven by the various advantages of external combustion systems, such as continuous external combustion, which lowers emissions and eliminates the exhaust of high-pressure combustion products.

Restraints:

It is expected that the long startup times of external combustion engines will restrain the market’s growth over the forecast period. Furthermore, risk factors like the boiler bursting due to too much steam pressure have compelled the end users to endorse alternative machinery.

During the forecast period, this action is anticipated to restrain the market’s expansion for external combustion engines. Over the course of the forecast period, it is also anticipated that the external combustion engine’s high investment costs and poor efficiency will restrain market expansion.

Analysis of Asia Pacific External Combustion Engine Market

During the forecast period, the Asia Pacific region will primarily dominate the market for external combustion engines. Due to the region’s rapid industrialization and expanding number of power plants, nations like China, India, and Japan are experiencing rapid economic growth.

Additionally, over the course of the forecast period, the marine industry in the APAC region experienced significant growth, which significantly boosted the market for external combustion engines. Over the course of the forecast period, the APAC region’s external combustion engine market is anticipated to experience strong growth.

Condition of North American & Europe Regions in the External Combustion Engine

Due to the region’s growing need for external combustion engines for a variety of applications, including pumps, ships, power plants,., North America is a significant market for these engines. Out of all the regions, North America will hold 18% of the market during the forecast period.

On the other hand, the external combustion engine market is also expanding steadily in the Europe region, gaining 22% of the market during the forecast period. The region’s market is being driven by expanding industrialization and major thermal plant construction. Due to the increasing use of external combustion engines in recent years and the UK’s position as a leading nation, the market is growing quickly.

Competitive Landscape:

Skilful Players in the External Combustion Engine Market

Due to the presence of so many major players during the forecast period, the market is fragmented. Through their various marketing strategies, the players are essential in generating the most revenue.

They are employing methodologies to spur market expansion and win the lion’s share. Mergers, acquisitions, partnerships, product launches, and other strategies are examples of marketing tactics.

Recent Developments in External Combustion Engine

Recent advancements in real-time control, fuel injection, sensors, and other technologies have brought the potential external combustion engine to a high level. Manufacturers are implementing cutting-edge technology to improve performance in the automotive sector. External combustion engines with high efficiency are now available thanks to recent technologies.

Key Segments

By Product Type:

• Steam Engine
• Stirling Engine

By Application:

• Pump
• Ship
• Thermal Power Plant
• Train
• Nuclear Power Plant

By Region:

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

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 global mechanical seals market is poised for substantial expansion, with forecasts indicating a valuation of USD 3.3 billion in 2023. This upward trajectory is expected to persist, propelled by a robust Compound Annual Growth Rate (CAGR) of 4.1% from 2023 to 2033, culminating in an estimated market worth of USD 5.0 billion by 2033. This compelling narrative of growth finds its foundation in the thriving manufacturing and industrial sectors, underscoring the indispensable role of mechanical seals across a diverse range of applications.

Operating discreetly yet indispensably, mechanical seals assume a critical function in managing leakage in rotating equipment, including mixers and pumps. Their primary objective is to prevent the escape of liquids and gases from the machinery’s confines into the surrounding environment. Beyond fortifying the integrity of the equipment, these seals significantly contribute to minimizing environmental emissions, aligning seamlessly with the global imperative for environmental sustainability.

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Key Insights from the Mechanical Seals Market:

North America commands over 25% of the market share, driven by the expansion of end-use verticals such as chemicals, oil & gas, and power. The United States alone houses nearly 9,000 independent oil and gas power plants.

Europe holds over 20% of the market share, attributed to prominent manufacturers like A.W. Chesterton Company. The company has initiated operations in Sweden, establishing a manufacturing facility for compression packing used in valves and pumps. This facility is dedicated to serving Northern Europe, supplying ready-to-install packing rings and compression packaging in metric cut lengths. Additionally, it offers customer-specific kits for original equipment manufacturers (OEMs) and direct service partners of Chesterton.

The Asia-Pacific region is projected to experience the fastest growth rate in the mechanical seals market, driven by the expanding industrial applications in developing economies.

“Given the peak state of the manufacturing vertical, the global mechanical seals market is poised for substantial growth in the projected period,” states an analyst from Future Market Insights.

Noteworthy Developments in the Competitive Landscape:

• A.W. Chesterton Company introduced the patented Chesterton Matrix Rotary Seal in May 2020. This split seal employs two material technologies, engineered to perform effectively on equipment with significant run-out shafts and wear.
• John Crane unveiled the ‘Elastomer Bellows Cartridge Seal’, named T4111, in March 2019. This one-time-use cartridge seal is designed for sealing centrifugal and rotary pumps, as well as analogous rotating shaft machines.
• Dover announced the Air Mizer solutions in April 2019, specifically designed for the AM Conveyor Equipment Manufacturers Association shaft seal. This innovation caters to CEMA screw conveyors and equipment.
• Hallite Seals continued its partnership with MSOE (Milwaukee School of Engineering) in March 2018, focusing on integrating design principles for sealing materials and seals with reliable 3rd-party authentication.
• John Crane extended its 5600 range seals with the introduction of the novel 5610 Liquid Quench (5610L) in November 2021.
• Gallagher Fluid Seals, Inc. concluded the acquisition of IEQ Industries in May 2022, contributing to the diversification of their product mix.

Key Players:

Prominent players operating in the market include EagleBurgmann India Private Limited, Flowserve Corporation, Flex-a-seal, Bal Seal Engineering, Cooper-Standard, Federal-Mogul, Flexitallic Group, Garlock Sealing Technology, Henniges Automotive Sealing Systems, Hutchinson Sealing Systems, Timken AB, Freudenberg Sealing Technologies GmBH and Co. KG., Dana Corporation, Telleborg Industries, and others.

Key Segments Profiled in the Mechanical Seals Industry Survey:

Global Mechanical Seals Market by Type:

• O-ring Mechanical Seals
• Lip Mechanical Seals
• Rotary Mechanical Seals

Global Mechanical Seals Market by End Use Industry:

• Mechanical Seals in Oil and Gas Industry
• Mechanical Seals in General Industry
• Mechanical Seals in Chemical Industry
• Mechanical Seals in Water Industry
• Mechanical Seals in Power Industry
• Mechanical Seals in Other Industries

Global Mechanical Seals Market by Region:

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

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 industrial filtration market is poised for remarkable growth, with a projected Compound Annual Growth Rate (CAGR) of 16.8% over the forecast period. By the year 2023, the industry is expected to reach a substantial valuation of USD 25,026.6 million, with forecasts indicating a staggering increase to USD 101,248.3 million by 2033.

At the core of this market lie advanced air filtration and separation systems, which serve as essential components in maintaining cleanliness and safety within various industrial settings. These cutting-edge technologies effectively eliminate harmful particulates and pollutants from the air, not only safeguarding the health and well-being of workers but also enhancing the durability and reliability of industrial equipment.

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Enhancing Workplace Air Quality through Robust Industrial Filtration Systems:

Industrial settings necessitate the implementation of effective and robust industrial filtration systems to enhance the air quality within workplaces. This need remains pertinent despite the utilization of protective gear like body suits and air filters by industrial workers.

As a result of these measures, several benefits ensue, including the elongation of machinery lifespans, heightened production output, and most notably, the prevention of airborne diseases.

Analysis forecasts a sustained surge in demand for filtration equipment in the forthcoming years. This is driven by the expansion of consumer goods such as air purifiers, water filters, and air conditioners that incorporate filtration technology.

Key Takeaways:

• The industrial revolution’s onset spurred the establishment of numerous industries spanning diverse sectors, fostering extensive industrialization. This phenomenon is poised to exert a favorable influence on the growth trajectory of the industrial filtration market, propelling its consistent advancement.
• Prominent sectors like cement, pharmaceuticals, paper, and petroleum prominently rely on industrial filtration. The adoption of activated carbon filters within the water treatment domain, specifically for chlorine and effluent removal, significantly contributes to the market’s expansion. Consequently, an impressive upswing in the integration of these filtration solutions across industries is anticipated, auguring accelerated market growth.
• Further impetus arises from stringent regulations enforced by governmental and environmental bodies. These regulations have effectively curbed emissions of air and water pollutants, thus catalyzing the growth of the industrial filtration market.
• Responding to health concerns, food and beverage entities are swiftly incorporating filtration systems within their manufacturing processes. This proactive measure aims to thwart ailments such as heart disease, obesity, and diabetes. With organic farming gaining traction and the widespread use of pesticides and fertilizers, concerns regarding food safety are mounting. This escalation is projected to drive the demand for filtration systems across the market.

Competitive Landscape:

Key market players in the global industrial filtration market are focusing on expanding their reach through acquisitions and mergers. They are also focusing on research and development to launch new products and get an edge over the global market.

Key Companies Profiled:

Eaton Corporation Plc, Industrial Filtration, Pentair Plc, Clarcor Inc., Mann+Hummel Group, Filtration Group Company, 3M Company, Cummins Filtration, Freudenberg Filtration Technologies, Fil-Trek Corporation, Alfa Laval AB, Parker Hannifin Corporation, W. L. Gore & Associates, Donaldson Company, ZwitterCo, Woosh, EKOTON Industrial Group, ESMIL Process Systems, MI Systems, mdi Memebrane Technologies.

Key Segments Profiled in the Global Industrial Filtration Market:

By Product Type:

• Air Filters
• Bag Filters
  • HEPA
  • ULPA
  • PTFE Membrane
  • Electrostatic Precipitator
  • Others
• Liquid Filters
  • Strainers
  • Cartridge
  • Depth Filter
  • Others

By End Use:

• Automotive
• Food and Beverages
• Mining
• Power Generation Plants
• Chemical
• Petroleum
• Pharmaceutical
• Others

By Region:

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

Author:

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

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

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

About Future Market Insights (FMI)

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

Contact Us:        

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

The global industrial weighing equipment market has reached a significant milestone, boasting a valuation of USD 4,400.1 million in 2022. Projections for the forecast period indicate a compelling growth trajectory, with an anticipated Compound Annual Growth Rate (CAGR) of 6.0%. This growth will propel the market from USD 4,622.0 million in 2023 to a substantial USD 8,242.7 million by 2033.

Industrial weighing equipment, often underappreciated yet essential in manufacturing and industrial sectors, play a pivotal role in maintaining precision and efficiency standards. These meticulously engineered machines provide precise measurements of various items, products, and components, whether in analog or digital form, thereby enhancing operational accuracy across diverse industries.

As the market continues to evolve, the strategic integration of industrial weighing equipment is poised to further streamline manufacturing processes, fostering heightened levels of accuracy and operational efficiency. The industry’s trajectory towards prosperity underscores the indispensable role of these precision instruments in advancing and upholding global industrial standards.

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Industrial weighing machines play an essential role in accurately assessing the weight of items, products, and gadgets. Their applications extend to precise raw material filling and verification of supplied goods’ weight. These machines offer precision in weight readings, aiding manufacturers in optimizing production by minimizing overfilling and material wastage.

End-use sectors encompass construction, agriculture, medicine, food, and more. Industrial weighing machines come in diverse types, each tailored to specific functions. For instance, conveyor scales weigh items as they traverse a weighbridge via a conveyor, effectively measuring the weight of large vehicles and trucks. This nuanced versatility enhances operational efficiency across industries.

An analyst from Future Market Insights points out that as awareness of the reliability of industrial weighing equipment deepens, the global market is poised for impressive growth in the near future.

Key Insights from the Industrial Weighing Equipment Market:

• North America takes the lead with the US experiencing continuous advancements in the retail and pharmaceutical sectors. Additionally, the demand for home health monitoring is on the rise.
• Europe maintains a substantial market presence, driven by the UK and Germany, hosting a significant number of key industry players.
• The Asia-Pacific region is primed for rapid expansion in the industrial weighing equipment market during the forecast period. Japan, South Korea, India, and China are anticipated to lead the charge. China’s move to lower tariffs on automotive components further contributes to this trend.

Featured Industry Players:

1. Avery Weigh-Tronix
2. RADWAG Wagi Elektroniczne
3. CI Precision Ltd.
4. A&D Weighing
5. Atrax Group NZ Ltd
6. Thompson Scale Company
7. GSH Group
8. Bilwinco AS
9. D Brash & Sons Ltd
10. Sartorius AG
11. Ohaus Corporation
12. Maguire Products Inc.
13. Mettler Toledo International Inc.

Competitive Equipment Highlights:

• A&D Weighing: In 2021, introduced the GF-M and GX-M series weighing balances, known for their efficiency in handling spills, light washdowns, and dust protection.
• Thayer Scale: Developed innovative batching and blending options for weighing scales in 2022. These incorporate an elongated mass counterbalance scale and cost-effective volumetric feeders that can replace multiple Loss-In-Weight Feeders and integrated weigh belt feeders for enhanced accuracy.
• Mettler Toledo: Offers a comprehensive range of weighing solutions including bench scales, pallet scales, truck scales, rail scales, and load cells. Their scales cover a broad measurement range from 0.001 grams to several tonnes, catering to legal-for-trade and basic weighing needs. Industrial scale software programs, indicators, and accessories ensure precise process control and visibility.

Key Segments:

By Product Type:

• Industrial Checkweighers
• Industrial Counting Scales
• Industrial Floor Scales
• Industrial Rail Scales
• Other Industrial Weighing Equipment

By End Use Industry:

• Chemicals Industry
• Manufacturing Industry
• Mining Industry
• Food & Beverage Industry
• Other Industries

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

The global Industrial Furnaces Market is estimated to secure a valuation of US$ 2.5 billion in 2023 and US$ 3.6 billion by 2033. The global market is estimated to capture a CAGR of 3.9% during the forecast period.

Which Factors are Driving the Industrial Furnaces Market?

The global market is influenced by various factors, including:

• Increasing Industrialization: The rapidly growing industrial sectors, including automotive, chemical, steel, and manufacturing, are increasing the adoption of industrial furnaces. These furnaces are widely used for various purposes, such as chemical processing, metal melting, and heat treatment.
• Energy Efficiency and Sustainability:The rising focus on environmental sustainability is increasing the demand for industrial furnaces. These are used to clean energy sources by adopting combustion technologies among end users. It helps to reduce carbon emissions and decline operational costs.
• Advancements in Automotive and Control Systems:Adopting industrial furnaces offers accuracy, safety, and improved process control with advanced automation. Integrating industry 4.0 technologies and the Internet of Things enhances remote monitoring to improve performance.
• Growing Demand for Specialty Metals:Increasing demand for specialty metals in several end-user sectors, such as electronics and aerospace, drives the global market. These furnaces are widely used for processing heat treatment in the aerospace and electronics sectors.
• Advancing Automotive Industry:The growing automotive sector is increasing the demand for heat treatment processes for manufacturing various components. These components are the transmission, engine parts, and other metals part.
• Upgradation and Replacements:The growing advanced technologies need to repair inefficient furnaces to newer ones. Industries are investing huge amounts in upgrading furnace systems to reduce downtime and increase productivity.
• Rise in Aerospace and Defense Activities:The increasing demand for industrial furnaces in aerospace and defense activities for heat treatment and critical processes for manufacturing equipment is driving market growth.
• Pharmaceuticals and Chemicals Processing:The growing pharmaceutical and chemical sector is increasingly adopting industrial furnaces for sintering, drying, and calcination. These sectors are rapidly expanding the global market growth.
• Research and Development:The manufacturers and key companies are investing a lot in research and development activities to improve efficiency, reliability, and safety to develop innovative products.
• Government Regulations:The government imposed stringent regulations to enhance work safety and promote safety standards that drive the global market.

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Key Takeaways:

• The global industrial furnaces market is estimated to register a CAGR of 3.9% with a valuation of US$ 3.6 billion by 2033.
• The market captured a CAGR of 3.6% in the historical period between 2018 and 2022.
• The United States is anticipated to dominate the global market by registering a share of 6% during the forecast period.
• With a share of 5.4%, Germany is significantly driving the global market by 2033.
• Japan is anticipated to secure a share of 0% in the global market during the forecast period.

How are Key Players Advancing the Global Market?

The global market is highly consolidated by prominent players investing millions in research and development activities. These players are trying to develop innovative and improved products in the global market. Key players adopt marketing tactics such as mergers, partnerships, and agreements to uplift the global market.

Top 10 Key Players in Industrial Furnaces Market

• Epcon Industrial Systems, LP
• International Thermal Systems
• Industrial Furnace Company
• Nutec Bickley
• L&L Special Furnace Co. Inc.
• Thermcraft Inc.
• SCHMIDT + CLEMENS GMBH + CO. KG
• ANDRITZ
• LÖCHER Industrieofen
• Carbolite Gero Limited

Recent Developments in the Global Market are:

In 2021, International Thermal Systems announced its newly launched products, wicket ovens, and pin ovens.

Industrial Furnaces Market by Segmentation

By Arrangement:

• Tube or Clamshell Type
• Box Type
• Car Bottom Type

By Operation:

• Gas/Burner Operated
• Electrically Operated

By Application:

• Atmosphere
• Vacuum

By Structure:

• Batch
• Continuous

By End User:

• Automotive Manufacturing
• Oil and Gas
• Metallurgy
• Steel and Iron Production
• Food Processing

By Region:

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

Have a Look at Trending Reports of Industrial Automation Domain:

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Automated Container Terminal Market Share: A important milestone was reached when the market for automated container terminals was valued at US$ 10 billion. According to projections, the need for automated container terminals is expected to expand significantly between 2023 and 2033, with a projected CAGR of 7.3%.

Emulsion Explosive Market Trends: In 2022, the global market for emulsion explosives grew by 5.1% year over year. The market for emulsion explosives is anticipated to reach US$ 4,587.91 million by 2033 from its projected value of US$ 2,763.49 million in 2023. Over the course of the projected period, the market is anticipated to grow at a CAGR of 5.2%.

Commercial Induction Cooktops Market Outlook: The market for commercial induction cooktops is anticipated to reach a value of US$ 22 billion in 2033 and increase significantly between 2023 and 2033, at a CAGR of 5.6%.

Articulated Robot Market Demand: The global market for articulated robots was valued at US$ 9.2 billion, and between 2023 and 2033, it is predicted to increase at a steady rate of 8.3%, eventually reaching an outstanding US$ 20.4 billion.

Variable Speed Generators Market Growth: By 2023 and 2033, the market for variable speed generators is expected to be worth US$ 8.5 billion and US$ 14.2 billion, respectively. Global sales of variable speed generators are expected to increase at a CAGR of 5.3% over the assessment period.

Military Parachute Market Type: During the projected period, the market demand for military parachutes is anticipated to grow at a CAGR of 5.5%. It is estimated that the global market will increase from US$1.42 billion in 2023 to US$2.43 billion by 2033.

Clad Pipe Market Forecast: By 2033, the market for clad pipes is expected to have grown from US$ 2,560.6 million to US$ 3,938.7 million. Over the course of the forecast period, the market is expected to grow at a CAGR of 4.4%, according to FMI.

Electric & Hydraulic Wellhead Drives for Onshore Application Market Sale: By the year 2033, it is expected that the market for electric and hydraulic wellhead drives for onshore applications will reach a high of US$ 405.3 million. The specialists at Future Market Insights have calculated a historical CAGR of 8.2% for the relevant market.

Metal Stampings Market Value: In 2023, the market for metal stampings is anticipated to be worth US$ 419.7 billion. By 2033, the market is anticipated to reach more than US$ 635.8 billion.

About Future Market Insights, Inc.

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.

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