Stacker Crane Market to reach US$ 2 Bn by 2032; Asia to Lead the Industry’s Growth : Say’s FMI

As per the global market study on stacker cranes, the market is expected to grow at a CAGR of 7% over the forecast period, from an estimated USD 976 million in 2021 to US$ 2 billion in 2032. Asia-Pacific is expected to lead the stacker crane market growth due to the rise of end-use industries and the adoption of AS/RS to improve material handling and logistics.

Attributes Details
Stacker Crane Market CAGR (2022 – 2032) 7%
Stacker Crane Market (2032) US$ 2 Bn
Stacker Crane Market Attraction Growing need for smart logistics to remain a key driver.

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ASRS reduces the need for human interaction in basic tasks such as exact storage of an item at a preset place, retrieval of an item, and transporting commodities to certain processing or interface locations using a stacker crane system. As a result, ASRS deployment lowers labor costs and increases space utilization. The use of ASRS systems and the adoption of stacker cranes are projected to be driven by rising warehouse rents and decreasing warehouse availability.

Stackers provide better accessibility in closed and compact places, maybe readily moved from one position to another, are less expensive to operate, and are simple to maintain. Furthermore, in recent years, the requirement for safe and effective material handling equipment in numerous cross-industry verticals has increased the sales of stacker cranes.

These benefits are expected to propel the stacker crane market size further in the coming years. Furthermore, technological improvements and innovations in stackers provide profitable growth prospects for market participants. However, the rising trend of forklift use is expected to stifle market growth.

The expense of installing a stacker crane design is expensive at first. Setting up this system needs precision, which necessitates the use of expert staff. In addition, maintaining and updating numerous subsystems is often prohibitively expensive for businesses. Small and medium-sized businesses find it challenging to make such large investments. Stacker crane systems, storage units, and racks are all included in the initial price of an automated storage and retrieval system.

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Installing a stacker crane warehouse and system has a hefty upfront cost. This technology demands precise setup, which necessitates the use of experienced staff. In addition, the expense of maintaining and updating numerous subsystems is frequently significant for businesses. For small and medium-sized businesses, making such large investments is tough. As per the stacker crane market trends, storage units and racks are among the high-cost initial components of an automated storage and retrieval system.

Key Takeaways:

  • Owing of rising usage in China and India, the Asia Pacific is expected to occupy the greatest share of the stacker crane market opportunities by 2027.
  • The single-column segment will have the biggest stacker crane market share during the projected period. Due to its application in the fast-moving goods industry, the single-column category is likely to have a large market share over the forecast period.
  • New product developments and expansions will provide profitable prospects for market players in the next five years.
  • Emerging Trends in the stacker crane market predict rising demand for automated storage and retrieval solutions.
  • The fastest-growing segment is projected to be automatic stacker cranes. The automatic stacker crane is a low-energy mechanism that stores and retrieves items in a single cycle.

Competitive Landscape

Swisslog AG (Switzerland), Daifuku Co. Ltd (Japan), Murata Machinery Ltd (Japan), and Kion Group AG dominate the stacker crane market (Germany).

Stacker crane market demand analysis indicates that these organizations provide turnkey crane automation services and extensive global distribution networks. These organizations have implemented broad expansion tactics, including collaborations, partnerships, and mergers and acquisitions, to gain traction in the developing market for stacker cranes.

  • AFT Industries, a supplier of material handling equipment to car manufacturers, signed a strategic collaboration deal with Daifuku Industries in February 2021.
  • Doosan Logistics Solutions announced a strategic agreement with Chinese robotics firm Greek+ in November 2020 to sell and maintain autonomous logistics robots in South Korea. Greek+ has a 16 percent share of the autonomous mobile robot market. The acquisition is intended to boost its product range and help it retain its position in the logistics and automation sector using stacker crane market adoption trends.

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Key Segments

By Operation Type:

  • Semi-automatic
  • Automatic

By End-use Industry:

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

By Application:

  • Autostart
  • Early Baggage Storage (EBS)
  • Sortation System
  • Robotized Order Preparation

By Type:

  • Single Column
  • Double Column

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa (MEA)

Loader Bucket Attachments Market is slated to increase at a CAGR of 4.6% to reach a valuation of US$ 3.76 Bn by 2029.

Increasing safety standards and the need for regular replacement of loader bucket attachments is one of the prime factors contributing to high volume sales. The average service life of a loader bucket attachment is around three to five years, after which, it needs to be replaced or thoroughly serviced. Further, greater attention is being paid to safety standards, such as by OSHA and others, established by regional governments, creating a market opportunity of more than US$ 1.3 Bn over the forecast period of 2022-2029.

Loader Bucket Attachments Market Size (2022) US$ 2.74 Bn
Sales Forecast (2029) US$ 3.76 Bn
Global Market Growth Rate (2022 to 2029) 4.6% CAGR
Share of Top 5 Loader Bucket Attachment Manufacturers 45%

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On the back of these factors, the global loader bucket attachments market is projected to register a CAGR of 4.6% through period.

Key Takeaways of Loader Bucket Attachments Market Study

  • The rise in infrastructural projects with promising economic growth necessitates manufacturers of heavy-duty off road vehicles to increase efficiency and productivity, creating growth opportunities for players in the loader bucket attachments market.
  • Prominent players in the loader bucket attachments market are striving to offer an extensive range of attachments and ground engaging tools. Additionally, these companies strive to offer new products in developing regions where end-use industries have registered double digit growth in the past, such as China, India, and Latin America.
  • Between thumbs and grapples, grapples are estimated to gain more prominence, as they can be used to multitask, which leads to increased productivity in demolition, rock handling, scrap handling, and land clearing applications. Grapples are expected to gradually replace thumbs in the latter half of the forecast period.
  • Amongst all the loader bucket attachments, ground engaging tools are gaining more acceptance in the loader bucket attachments market, owing to their better productivity.
  • Cumulatively, the Americas and Europe have a notable installed base of bulk material handling equipment. The need for frequent maintenance due to safety concerns and the resulting volume sales of loader bucket attachments, coupled with growing concerns regarding proper waste handling is expected bolster the growth of the loader bucket attachments market.

“Increasing infrastructural investments, recovering mining industry, and the prevalence of waste management is anticipated to offer abundant opportunities to manufacturers in the loader bucket attachments market, especially in developing countries.”

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Loader Bucket Attachments: Competition Scenario

The loader bucket attachments market is assessed to be a fairly consolidated market space, where players such as Caterpillar, AB Volvo, Komatsu Ltd., JCB, Doosan Corporation, Deere & Company, and CNH Industrial are projected to maintain their supremacy in the market throughout the forecast period.

What’s in it for you?

The global loader bucket attachments market report published by Future Market Insights details an extensive market analysis for the projected period of 2022-2029, based on attachment type and region. The loader bucket attachments market report offers an exhaustive analysis of major attachments employed in bulk material handling systems across various end-use industries, with their regional market dynamics and sales forecast. The study contains information about emerging market opportunities over the forecast period, and also highlights supply trends, key considerations for manufacturers, and other macro and micro factors impacting the growth of the loader bucket attachments market.

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Key Segments of Loader Bucket Attachments Industry Survey

Loader Bucket Attachments Market by Attachment:

  • Attach Adapters & Couplers
  • Blades
  • Booms
  • Forks
  • Grapples
  • Ground Engaging Tools
  • Mounting Brackets
  • Pushers & Snowplows
  • Rakes
  • Sweepers
  • Thumbs

Loader Bucket Attachments Market by Region:

  • North America Loader Bucket Attachments Market
  • Latin America Loader Bucket Attachments Market
  • Europe Loader Bucket Attachments Market
  • East Asia Loader Bucket Attachments Market
  • South Asia & Pacific Loader Bucket Attachments Market
  • Middle East & Africa (MEA) Loader Bucket Attachments Market

Global Woodworking Router Bits Market Value To Grow By Almost $ 154.2 Billion During 2022-2029 : FMI

According to a new research report published by Future Market Insights (FMI), the global woodworking router bits market is estimated to exhibit a CAGR of close to 4.8% during the forecast period of 2022-2029.

Global Woodworking Router Bits Market Size (2022) US$ 110.7 Mn
Estimated Market Worth (2029) US$ 154.2 Mn
Forecast Growth Metrics (2022-2029) 4.8% CAGR
North America Market Share (2022) 23.4%

Router bits are used in several woodworking applications such as milling, drilling, grooving, profiling, engraving, carving, etc. High accuracy and precision of carbide-tipped router bits are giving them a competitive edge in the global market. High demand for design furniture is another plus point favouring market growth. Furthermore, high reselling value of carbide-tipped router bits as compared to high speed steel (HSS) is also expected to push the growth lever of the global market in the coming decade.

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Key Takeaways of Woodworking Router Bits Market Study

  • Woodworking router bits have prominent application in engraving and carving all kinds of wood such as chipboard, plywood, hardwood, and softwood, and play a crucial role in the furniture industry.
  • Targeting the expanding DIY consumer segment, manufacturers are offering customized products, which facilitate effective usage in handheld operations such as drilling, cutting, milling, etc.
  • The most common types of router bits available in the market are handheld router bits and CNC router bits. Handheld router bits are limited to specific applications, resulting in steady market growth, whereas, CNC router bits are versatile, providing lucrative business avenues for investors.
  • Out of all woodworking operations, grooving holds a significant share, and is projected to witness maximum growth during the forecast years.
  • In recent years, the market has witnessed price variations, owing to diversified product lines offered by manufacturers that target a broad clientele based on the type of woodworking operation.
  • Growing usage of wood in the design of basic utilities in commercial construction is expected to further raise the demand for woodworking router bits.

“In the woodworking router bits market, products with high-end precision and durability are necessary for complex woodworking operations. Manufacturers are capitalizing on this trend by actively providing customized products for application-specific woodworking operations.”

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Woodworking Router Bits Market: Competitive Landscape

The woodworking router bits market has become increasingly competitive as manufacturers are launching advanced products that offer various operational benefits and are compatible to the woodworking industry. There are a significant number of organized and unorganized players actively operating in the global market. Key players involved in the woodworking router bits market are Robert Bosch GmbH, Stanley Black and Decker, Kanefusa Corporation, Amana Tool Corporation, and CMT Utensili SpA, among others. The offering of versatile router bits can be a differentiating move for manufacturers in the global market.

Asia Pacific Offering Lucrative Opportunities for Market Growth

The woodworking router bits market is expected to gain significant traction in the coming years, owing to flourishing residential and commercial construction activities in developing economies of Asia Pacific. Rising demand from the furniture industry in the commercial and residential sectors is expected to drive the sales of router bits during the forecast period. Intense use of wooden furniture and timber for construction in countries such as India, China, and South Korea is expected to propel woodworking router bits market growth.

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Key Segments of Woodworking Router Bits Industry Survey

Woodworking Router Bits Market by Operation:

  • Woodworking Router Bits for Jointing & Rebating
  • Woodworking Router Bits for Cutting
  • Woodworking Router Bits for Grooving

Woodworking Router Bits Market by Tool Type:

  • Rabbeting Bits
  • Door/Window Making Router Bits
  • Flush Trim Router Bits
  • Edge Making Router Bits
  • Grooving Router Bits
  • Slot Making Router Bits
  • Spiral Router Bits
  • Straight Router Bits
  • Others (Chamfer, Bead, Dove Tail, Thumbnail, Molding, Round Over, Flat Rounding, Ogiee, Cove, Stile)

Woodworking Router Bits Market by Shank Size:

  • 1/2″ Woodworking Router Bits
  • 1/4″ Woodworking Router Bits
  • 3/8″ Woodworking Router Bits
  • 3/4″ Woodworking Router Bits
  • 5/8″ Woodworking Router Bits
  • 5/16″ Woodworking Router Bits

Woodworking Router Bits Market by Region:

  • North America Woodworking Router Bits Market
  • Latin America Woodworking Router Bits Market
  • Europe Woodworking Router Bits Market
  • East Asia Woodworking Router Bits Market
  • South Asia & Pacific Woodworking Router Bits Market
  • Middle East & Africa (MEA) Woodworking Router Bits Market

Stereotactic Planning Software Spending Analysis Market CAGR of 4.6% during the forecast period (2021-2031).

[230 Pages Report]Stereotactic planning software is an interactive software tool used in stereotactic planning applications of recording chamber placement and electrode trajectories. It combines basic trajectory planning to obtain arc settings with advanced planning capabilities that improve O.R. workflows, localization of functional areas, and deep brain stimulation (DBS). According to the recent Future Market Insights (FMI) report, the global stereotactic planning software spending analysis is estimated to be US$ 252.6 Mn in 2021, with a market CAGR of 4.6% during the forecast period (2021-2031).

The high prevalence of neurological disorders and small cell lung cancer is expected to boost the demand in the stereotactic planning software market. For instance, Parkinson’s disease and other movement disorders are estimated to affect 2.75 million people in the United States. According to DALY’s, in the U.S., stroke accounts for 3.58 Mn people, Alzheimer’s disease for 2.55 Mn, and migraine for 2.4 Mn.

Furthermore, increasing investments in better treatment options involving precision and artificial intelligence in the software provide impetus to the market by increasing the overall adoption rate. Patients are inclined towards safer and better treatment facilities with minimal incision. Stereotactic planning software facilitates surgeons to plan stereotactic surgery efficiently.

However, the unprecedented impact of the ongoing covid-19 pandemic has created a significant impact on the stereotactic planning software market due to a shortage of inpatient footfalls in hospitals and other centers.

Preference now is being given to the treatment of COVID-19 patients, thus halting product launches for stereotactic planning. Also, this has led to the postponement of the enrolment of the new participants is such studies. Now, with the availability and commencement of the COVID-19 vaccination, the research activities expected to resume in the near future.

Key Takeaways from Stereotactic Planning Software Spending Analysis Market Study

  • Integrated stereotactic planning solutions are expected to grow 2x by 2031 as compared to 2021 owing to ease of use and higher adoption rates.
  • CT scans are projected to capture over 46% of the global market by 2031. This is attributed to inherent accuracy in identifying and localizing intracranial lesions.
  • North America is the largest revenue-generating region for stereotactic planning software, with the U.S. accounting for over 79% of the regional market.
  • The U.K. holds the lead in Europe, accounting for over 37% of the region through the end of 2031.
  • East Asia is poised to grow at the highest CAGR of 5.3% during the forecast period with China accounting for over 62% of the market owing to the large subclinical patient pool of patients.

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Growing cases of neurological disorders, small cell lung cancer, and prostate cancer, along with an increase in patient awareness and screening, favorable reimbursement scenarios, approvals, and grants for product development are factors influencing market growth. The implementation of artificial intelligence, the use of visual improvements in real-time are some of the upcoming trends that are expected to create growth opportunities for manufacturers through the assessment period,” says the FMI Analyst

stereotactic planning software spending analysis key regions and solution type mekko chart, 2021

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Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2031. The global Stereotactic Planning Software Spending Analysis is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on Stereotactic Planning Software Spending Analysis based on solution type (Stand-alone Stereotactic Planning Solution, Integrated Stereotactic Planning Solution, Services), imaging modality (CT Images, MR Images, Angiographic Images), and end-user (hospitals, ambulatory surgical centers, cancer research institutes) across seven major regions.

Who is Winning?

Some of the leading companies operating in the stereotactic planning software spending analysis market are focusing on collaborations and mergers and acquisitions for global expansion options with a focus on emerging economies. Thus, enhancing their market presence. For instance,

  • In March 2021, RaySearch Laboratories AB (publ) announced a sales agent agreement with Canon Medical Systems USA, Inc., enabling RaySearch America’s salesforce to promote Canon Medical’s Aquilion Large Bore CT and Celesteion PET/CT products.
  • In March 2021, Brainlab announced the acquisition of Mint Medical GmbH. The acquisition aims to improve the structured diagnosis, analysis, and treatment of cancer and other diseases to address the demands of modern medicine and personalized treatments.

The key market players covered by FMI include Brainlab, Inc., Renishaw Inc., Inomed Inc., RaySearch Americas, Inc., Mevis Informática Médica, FHC, Inc., Integra LifeSciences Corporation, Elekta Solutions AB, and SurgiFRONT Ltd.

Stereotactic Planning Software Spending Analysis by CategoryBy Solution Type:

  • Stand-alone Stereotactic Planning Solution
  • Integrated Stereotactic Planning Solution
  • Services
    • Consulting & Implementation
    • Training Services
    • On-demand Support Services

By Imaging Modality:

  • CT Images
  • MR Images
  • Angiographic Images

By End User:

  • Hospitals
  • Ambulatory Surgical Centers
  • Cancer Research Institutes

By Region:

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

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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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Pelvic Floor Stimulators Market to exhibit CAGR of 8.8% for 2021 – 2031, reaching US$ 274.9 Million by 2031

[252 Pages Report] Increasing demand for electrical stimulation to treat urinary incontinence is expected to boost the global pelvic floor stimulator market. According to a report by Future Market Insights (FMI), the global pelvic floor stimulator market was valued at US$ 110.4 Mn in 2020 and is predicted to expand at a CAGR of over 8.8% during the forecast period (2021–2031).

Weakening of pelvic floor muscles, urinary tract infections, menopause, constipation, obesity, and alcoholism are the main causes of urinary incontinence. The rising prevalence of these conditions, added to the growing elderly population, are major drivers for the global pelvic floor stimulators market.

pelvic floor stimulators price benchmark key regions by product type, 2021

Similarly, a high level of portability and lower costs of mobile devices in contrast to fixed devices or surgical treatments, and progressive therapeutic results and easy access to patients through over-the-counter (OTC) medical channels are expected to drive demand.

Initiatives undertaken by government and non-governmental organizations to create awareness are increasing the demand for pelvic floor stimulators. For instance, the Australian government has started a program “National Continence Management Program.”

The government of Australia also started “The continence aids payment scheme (CAPS).” COVID-19 kicked the pelvic floor stimulators demand into high gear—and this extended to consumers increasing their adoption using online sales channels. However, lack of labor, halt on transportation, and disruptions in the supply chain, has affected device availability and growth prospects for the near future.

Manufacturers are focusing on research and development activities to develop unique and technologically advanced devices with rechargeable functionality. In March 2019 InControl Medical received FDA approval for a new Attain designed for at-home use to women in the U.S. suffering from stress, urge, mixed urinary incontinence or bowel incontinence.

 “Increasing prevalence of pelvic floor disorders and subsequently rising increasing awareness about the benefits electrical stimulation in the treatment of urinary incontinence are driving the adoption pelvic floor stimulators on a global scale through 2031,” says the FMI Analyst.   

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Key Takeaways from Pelvic Floor Stimulator Market Study

  • Electrical stimulators will reflect a revenue share of more than 66% with a CAGR of 9.1% owing to the high demand for treatment research for urinary incontinence.
  • Urinary Incontinence holds a share of over 75% in 2021, due to the growing geriatric population which is prone to urinary incontinence.
  • The U.K and Germany are leading markets in Europe, cumulatively accounting for over 45% of the regional value share, owing to consumer reliance on technology for health information.
  • Driven by a matured healthcare and research sector, the U.S., will account for more than 78% of the North America market by 2031.
  • China is a high potential market reflecting a 9.9% CAGR, driven by a rapidly growing consumer demographic of geriatrics.

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Key Participant Insights

Key players in the market are focusing on strategic collaborations, acquisitions, and expansion. Furthermore, product launches, agreements and research sponsorships are key strategies adopted by manufacturers to expand their research and development capabilities, while increasing their sales by strengthening product portfolios in the pelvic floor stimulator market.

In August 2020, Medtronic expanded leadership to launch InterStim Micro Neurostimulator and InterStim SureScan MRI Leads, for treating bladder and bowel control conditions.

Want More Insights?

Future Market Insights (FMI) brings the comprehensive research report on forecast revenue growth at global, regional, and country levels that provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2031. The global pelvic floor stimulator market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on the pelvic floor stimulator market on basis of product type [Electrical stimulators and Magnetic Stimulators], application (Urinary Incontinence, Sexual Dysfunction and Neurodegenerative Diseases). Based on End User [Hospitals, Ambulatory Surgical Centers and Specialized Clinics] across seven major regions.

Pelvic Floor Stimulators Market by Category

Product Type:

  • Electrical stimulators
  • Magnetic Stimulators

Application:

  • Urinary Incontinence
  • Sexual Dysfunction
  • Neurodegenerative Diseases

End-User:

  • Hospitals
  • Ambulatory Surgical Centers
  • Specialized clinics
  • Homecare setting

Region:

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

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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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Future Market Insights,
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Vapour Recovery Units Market is predicted to grow at a 5.6% CAGR during the forecast period (2022-2028

The global vapour recovery units market was valued at US$ 805.1 Mn in 2013 and is projected to reach US$ 1,202.0 Mn in 2022. The vapour recovery units market is predicted to grow at a 5.6% CAGR during the forecast period 2022-2028. Demand for vapour recovery units is increasing in the oil and gas industry as they are used to restrict loss of crude oil from storage tanks through restriction of vapour.

Attribute Details
Vapour Recovery Units Market Size Value in 2013 US$ 805.1 Mn
Vapour Recovery Units Market Size Value in 2022 US$ 1,202.0 Mn
Vapour Recovery Units Market Size Value in 2028 US$ 1,662.2 Mn
Vapour Recovery Units Market Historical CAGR (2013-2021) 4.4%
Vapour Recovery Units Market CAGR (2022-2028) 5.6%

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According to a recent research report published by Future Market Insights, the vapour recovery unit market value US$ 1,202.0 Mn by 2022 end, and expected to register a decent CAGR of 5.6% during the forecast period of 2022-2028.

“North America and Europe are anticipated to retain their prominent shares in the market throughout the forecast years, due to their established markets for upstream and downstream applications. However, APEJ and MEA are anticipated to provide lucrative growth opportunities on the back of development of the oil & gas sector in these regions.”

Vapour Recovery Unit Market: Competitive Landscape

The vapour recovery unit market is highly fragmented, with the presence of numerous players across the globe. Different players in the market have substantial sales footprint in specific regions.

These players include John Zink Company LLC, Zeeco Inc., and Gardner Denver Holdings Inc. Key players are adopting market strategies such as sales channel development, business partnerships with prominent players, as well as development of more advanced and efficient products that can meet emission standards.

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Vapour Recovery Units Market by Category

Technology:

  • Membrane Separation
  • Adsorption
  • Condensation
  • Absorption

Application:

  • Marine Loading
  • Truck Loading
  • Railcar Loading
  • Pipelines
  • Storage Tank Vents

Process:

  • Upstream
  • Downstream

End use:

  • Oil & Gas Compressors
  • Landfills
  • Brewery and Food Processing
  • Others

Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • MEA

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Key Takeaways of Vapour Recovery Unit Market Study

  • Growing production and consumption of oil has resulted in a rise in the number of oil exploration units and refineries across the globe. Increment in storage batteries and tanks, in turn, is anticipated to propel the demand for vapour recovery units during the foreseen period.
  • Price volatility of crude oil and increasing loss of oil due to vapour escape from storage vents will to fuel the requirement for vapour recovery units. These units restrict crude oil wastage due to vapour loss; hence, their utilization is anticipated to increase in upstream as well as downstream applications in the coming years.
  • Environmental regulations regarding VOC emissions have become stricter across the European Union and North America. Increasing greenhouse emissions and commitment of various organizations towards sustainable development are anticipated to further motivate end users to ensure strict adherence to guidelines and regulations. The use of vapour recovery units helps these manufacturers meet these standards of emissions.
  • North America and Western Europe are anticipated to hold substantial share in the market. The prominence of potential VRU manufacturers in these regions will spur market growth.

Pallet Pooling Market to reach a valuation of more than US$ 11 Bn by the end of 2029: FMI

Pallet pooling ensures the availability of pallets at the operational location, which results in a lean supply chain. Lean supply chain management leads to effective operational lead time. Owing to the rising inclination of most end users towards cost reduction, along with optimum lead time, the pallet pooling market is estimated to gain noteworthy traction in the coming decade.

Future Market Insights (FMI) has projected the Global Pallet Pooling market to grow with considerable value CAGR of 6.2% during the period of 2022 and 2029 and reach a value of US$ 641.8 Mn by 2029 end.

Global Pallet Pooling Market Size (2021A) US$ 7,052 Mn
Global Pallet Pooling Market Analysis (2022E) US$ 7,471 Mn
Projected Pallet Pooling Market Size (2029F) US$ 11,375 Mn
Value CAGR (2022-2029) 6.2%
Collective Value Share: Top 3 Countries (2022E) 76.5%

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According to a new research report published by Future Market Insights (FMI), the pallet pooling market is estimated to exhibit 6.2% CAGR over the forecast period, to reach a valuation of more than US$ 11 Bn by the end of 2029.

Key Takeaways of Pallet Pooling Market Study

  • Pallet pooling has prominent application in the FMCG sector, as warehouses play a crucial role in this industry.
  • In terms of material, plastic pallet pooling is estimated to witness notable demand, owing to high reliability, durability, and cost-effectiveness of plastic pallets as compared to other types.
  • Globally, the pallet pooling market in GCC countries is estimated to witness lucrative growth, owing to the positive outlook for industrial trade activities in the region, particularly for the e-Commerce industry. The U.S. is expected to hold a leading share in the global market, registering a significant CAGR throughout the forecast period.
  • In recent years, pallets tagged with RFID have become more popular amongst end consumers, owing to their ability to provide location as well as detailed information related to stacked products on pallets.
  • Pallet pooling is a one-time investment business, in which, the owner has to purchase pallets and then pooling can be done without any large investment. As a result, the market offers high profit margins to its participants.
  • For the effective operational efficiency of pallets, pallet service providers perform quality checks after the end of every service cycle to provide high-quality pallets and efficient service cycles to end consumers. Continuous and high standard quality checks of pallets are estimated to help players in the global pallet pooling market gain a competitive advantage.

“In the pallet pooling market, flexible payment profiles allow end consumers to pay rent monthly or quarterly at fixed rental rates throughout the term of the agreement, and customizations can be made in rental agreement terms to suit the period of budget allocation and income patterns.”

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Pallet Pooling Market: Competitive Landscape

The pallet pooling market is highly consolidated, owing to the presence of a limited number of pallet pooling service providers across the globe. Brambles Limited, Euro Pool Group, Faber Halbertsma, and Loscam are considered to be leading players in the pallet pooling market. Most market players are focusing on expanding their sales footprint in developing markets such as South Asia and the Middle East through the establishment of additional regional offices and sales partners.

Focus on Technological Advancements in Pallet Pooling

Increasing requirement of technologically-advanced pallet systems throughout the supply chain for lean management is anticipated to support the future growth of the global pallet pooling market.

Find More Insights on Pallet Pooling Market

The research report analyzes the total sales value of the pallet pooling market on the basis of revenue generated by market players from the target product. The market is forecasted on the basis of factors such as warehouse traffic flow, adoption rate, government regulations, and sustainable development. The scope of the research report includes pallet management services catering to FMCG, food & beverages, chemicals & pharmaceuticals, and other related end-use industries.

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Key segment:

By Structural Design:

  • Block
  • Stringer
  • Customized

By Material:

  • Wood
  • Composite
  • Plastic
  • Steel
  • Other Metals

By End Use:

  • FMCG Industry
  • Food & Beverages
  • Pharmaceutical
  • Electronics
  • Chemicals
  • Others

Read more: https://www.digitaljournal.com/pr/pallet-pooling-market-to-cross-us-11-bn-mark-by-2029-backed-by-rising-focus-on-lean-supply-management-2#ixzz7NZzxsrES

Biocomposites Market Rising at 16% CAGR; the Asia Pacific to Remain an Attractive Market : FMI

During the assessment period, the global biocomposites market is expected to increase at a robust CAGR of 16%, from US$ 25 Bn in 2021 to US$ 128 Bn in 2032.

“The usage of biocomposite products in the automobile industry may assist in decrease vehicle weight and injuries to passengers in accidents, surging the demand in the electrical and consumer durables sectors.”

Attributes Details
Biocomposites Market CAGR (2022 – 2032) 16%
Biocomposites Market (2021) US$ 21 Bn
Biocomposites Market Attraction Technical improvements in biocomposite plastic are driving the biocomposites product-market expansion.

Over the forecast period, the global biocomposites market is predicted to increase at an exponential rate of 16%. Valued at US$ 25 Bn in 2021, the biocomposites market is anticipated to reach US$ 128 Bn by 2032.

The increased research and development efforts for composite materials and biocomposite uses and benefits such as recyclability, lightweight, and cost-effectiveness are driving this trend. In addition, due to the harmful nature of synthetic materials, recycling challenges, and toxic residues, the biocomposites market size will continue to expand throughout the predicted timetable.

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As per the biocomposites market report, Germany, the United States, and Japan are among the developed countries working on boosting the usage of ecologically friendly items rather than petroleum-based products.

The European Union (EU) has favored such items over the United States and Japanese governments. It requires the use of bio-based materials, encourages the recyclability of vehicle components, and holds automakers accountable for disposal at the end of the vehicle’s service life. These laws are likely to boost demand for biocomposites in various end-use industries, including transportation, construction, and electrical and electronics.

The power necessary to make biocomposites is far lower than that critical to making glass fiber composites or carbon fiber composites. On the other hand, Biocomposites are more expensive than glass fiber composites. However, price reductions are prospects due to economies of scale and common biocomposites applications.

COVID-19 has had a detrimental impact on sales of biocomposites due to a drop in demand from numerous end-use sectors. Being one of the largest users of biocomposites, building and construction have seen the worst and most immediate effects of the epidemic. The building industry has been hit the worst. This has had a negative biocomposites market outlook.

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Advancing at a CAGR of 16%, the biocomposites market size is expected to reach US$ 51 Bn by 2026.

Key Takeaways

  • The hybrid composites product section captured the largest market size in the global biocomposites market, owing to increased biocomposites applications around the world. Its substantial market share is credited with the optimum fiber adhesion that leads to decreased moisture content, high strength, and structural capacity.
  • As per the biocomposites adoption trends, they are predicted to be the dominant market in the Asia Pacific. Over the projected period, it is also anticipated to be the fastest regional market.
  • The requirement for synthetic polymer biocomposites had decreased in 2020 because of the COVID-19 pandemic. As global end-use industries found a stable footing by the fourth quarter of 2020, demand for biocomposites also showed signs of recovery.
  • The market for biocomposites is dominated by the building and construction industry.
  • Wood fiber composites have the biggest market share in volume in the global biocomposites industry.

“The need for biocomposites is increasing in the building and construction, transportation, consumer goods, and other end-use industries. However, as a result of COVID-19, sales in various industries have decreased, reducing demand for biocomposites.”—opines an FMI analyst.

Competitive Landscape

To gain a foothold in the biocomposites market opportunities, the key companies in the industry are pursuing a variety of inorganic and organic techniques.

Biocomposites, an international medical device company that produces and manufactures leading products for bone and soft tissue infection management, announced today that its STMULAN products are, vancomycin, gentamycin, and tobramycin, have received new Canadian approval for the mixing of antibiotics with them.

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Key Segments

By Fiber Type:         

  • Wood Fiber Composites.
  • Non-wood Fiber Composites

By Polymer Type:

  • Natural Polymer Composites
  • Synthetic Polymer Composites

By Product:

  • Hybrid Biocomposites
  • Green Biocomposites

By End-use Industry:

  • Building & Construction
  • Transportation
  • Consumer Goods
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa (MEA)

These biocomposites may be made inexpensively in developing countries like India and China using abundant raw materials, including flax, jute, Kenaf, and hemp. Therefore, the overall cost of natural fiber-based biocomposites will be reduced. In addition, the biocomposites market future trends indicate that as the technology matures and production reaches economies of scale, these biocomposites are likely to become less expensive in the long run.

 

Heat Pumps Market to Hit US$ 50 Bn Mark by 2030; Production Standstill Amidst COVID-19 Spread to Dampen Sales Prospects

Future Market Insights (FMI) has estimated the Heat Pumps Market to grow with a year-on-year growth of 3.6% in 2022 reaching a value of about US$ 33,156 Mn by 2022 end.

Heat Pumps Market Size (2021A) US$ 31,994 Mn
Heat Pumps Sales (2022E) US$ 33,156 Mn
Projected Heat Pumps Market Size (2030F) US$ 50,714 Mn
Value CAGR (2022-2030) 5.4%
Collective Value Share: Top 3 Countries (2022E) 65.7%

Increasing demand for tech-advanced cooling solutions with low carbon footprint, government initiatives to curb greenhouse gas emissions, and advancements in heating, ventilation, and air conditioning (HVAC) systems are factors contributing to the revenue pool of the heat pumps market.

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Amidst the health crisis, cooling as well as heating systems are critical to fulfil the immediate needs of consumers, such as providing thermal comfort in hospitals and homes, preserving food and medicines, and keeping data centers running. In line with this, refrigeration and heat pumps are essential for consumers.

As the world attempts to fight the COVID-19 pandemic, it has led to delayed production across several heat pump production facilities in major coronavirus hit countries such as the US, China, and Germany, This is expected to dampen heat pump sales by around US$ 1 Bn in 2022.

Moreover, the COVID-19 pandemic will significantly impact consumer behavior in the short term, with domestic shipments from China for air source heat pumps (ASHPs) registering drop of over one-third in January 2022.

The heat pumps market will witness v-shaped recovery growth, owing to rising inclination towards innovative construction solutions, especially in countries such as India, China, and Mexico.

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Key Takeaways from Heat Pumps Market Study

  • Air-water heat pumps are finding immense use in domestic hot water, floor heating, and space heating/cooling applications.
  • Heat pumps having flexible or twin-speed features to reduce energy consumption and improve overall efficiency throughout are likely to garner substantial traction over the forecast period.
  • Demand for CO2 refrigerant heat pumps is expected to increase, given its excellent recyclability, low cost, and environment-friendly attributes.
  • Hybrid heat pumps are likely to see significant rise in adoption, owing to their high efficiency, lower energy consumption, and cost effectiveness as compared to other heat pumps.
  • Air-source heat pumps continue to grab huge attention of market players, owing to their low installation cost and high demand in North America and Western Europe.

“As the world moves towards sustainable and green energy solutions, heat pumps are expected to replace conventional heating systems rapidly in the near term. In addition, the ongoing coronavirus (COVID-19) spread can alter how companies organize their supply chains in the coming years, with more stress being layed on decentralization”.

Heat Pumps Market : Competitive Landscape

The study provides vital insights of the competition landscape in the heat pumps market, along with various strategies adopted by prominent players. The heat pumps market is fairly competitive, with manufacturers offering identical products. Some of the key manufactures in the heat pumps market are Panasonic Corporation, Mitsubishi Electric Corporation, Daikin Group, NIBE Group, and Danfoss Group Global.

Market participants are investing in R&D activities to develop new products with better energy efficiency, and are also focusing on providing aftersales services.

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Heat Pumps Market by Category

By Product Type:

  • Air-water heat pump
  • Air-air heat pump
  • Ground Source heat pump
  • Hybrid heat pump

By End Users:

  • Residential
  • Commercial
  • Industrial

By Power Source:

  • Electric
  • Others(Gas Driven)

By Refrigerants:

  • HFC
  • CO2
  • Ammonia
  • Hydrocarbon
  • Others

By System Type:

  • Air-source heat pumps
  • Ductless mini-split heat pumps
  • Geothermal heat pumps
  • Absorption heat pumps

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • MEA
  • Japan

Electric Sub-meter Market is projected to register 3% CAGR and reach a valuation of US$ 12.8 Bn by 2030.

Global electric sub-meter sales were valued at around US$ 9.74 Bn at the end of 2021. The market is projected to register 3% CAGR and reach a valuation of US$ 12.8 Bn by 2030.

Electric Sub-meter Market Size (2022) US$ 10 Bn
Sales Forecast (2030) US$ 12.8 Bn
Global Market Growth Rate (2022 to 2030) 3% CAGR
Share of Top 5 Electric Sub-meter Manufacturers 50%

Sales of electric sub-meters accounted for approximately 35% share of the global electric meters market in 2021. Smart sub-meters continue to carve out a significant share in overall electric sub-meter sales.

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Key Takeaways for Electric Sub-meter Market Study

  • Increasing consumer inclination towards smart sub-meters, owing to surging use of Internet of Technology (IoT), is anticipated to bolster market growth.
  • Conventional sub-meter manufacturers are merging with global technology providers and key market players, considering increasing traction towards smart sub-meters.
  • Governments in several countries are launching initiatives for rural electrification and installation of digital sub-meters.
  • Given noteworthy growth of the market in China, the East Asia region is projected to have a significant share in the global electric sub-meter market from 2022 to 2030.
  • The COVID-19 pandemic has put a majority of manufacturing and the supply chain of electric sub-meters on hold. As the number of infected individuals is increasing, industrial trade activities are expected to plunge significantly on a global scale, affecting the production and demand for electric sub-meters. Post containment of COVID-19 and lifting of lockdowns in developed regions, the global population would continue to follow social distancing protocols. Sales of electric sub-meters and new projects related to deployment of smart sub-meters in South East Asian countries will then pick pace.

“Manufacturers in emerging markets such as India and ASEAN countries are entering into supply agreements through tenders and new orders. Replacement of conventional electric sub-meters with novel smart sub-meters is expected to remain the key growth driver of the electric sub-meter market. In addition, manufactures are investing heavily in R&D activities in order to provide tech-driven smart electric sub-meters at comparatively lower prices, without compromising on quality.”

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Electric Sub-meter Market: Competitive Landscape

Players active in the electrical sub-meter market covered in this research study are ABB, OSAKI ELECTRIC CO., LTD., Schneider Electric, Honeywell International, Landis+Gyr, General Electric, Itron Inc., Siemens AG, Xylem Inc., and Mitsubishi Electric Corporation. These key participants are looking to expand their footprints by acquiring regional manufacturers in the electrical sub-meter market.

Moreover, the global electric sub-meter market is fairly fragmented, with the presence of global as well as regional manufacturers. Market competition is anticipated to intensify due to strategic mergers & acquisitions by global market players to reinforce their business presence across continents.

Governments in countries such as Indonesia and Vietnam are walking the extra mile to enable proper electrification across their nations, and, as such, intensifying the competitive ratio in the market. Regional players in the electric sub-meter market are working towards innovating their product portfolios and reducing operational costs to provide products at lower prices.

Find More Valuable Insights on Electric Sub-meter Market

FMI, in its new market research study, offers an unbiased analysis of the electric sub-meter market, which comprises global industry analysis of 2014–2021 and opportunity assessment for 2022–2030. The report offers complete analysis on the global electric sub-meter market through four different categories –product, phase, application and region.

The global electric sub-meter market study provides information of pricing by different life cycle analysis, product life cycle, key market trends, and technologies that are being implemented in the production of electric sub-meters, and product adoption in varied end-use industries.

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Key Segments of Electric Sub-meter Industry Research

By Product:

  • Socket Type/Electromechanical Sub-meters
    • Feed-through Sub-meters
    • Current Transformers
  • Non-socket /Electronic Sub-meters
  • Smart Sub-meters

By Phase:

  • Single Phase Electric Sub-meters
  • Three Phase Electric Sub-meters

By Application:

  • Commercial Establishments
    • Large Retail Stores
    • Data Centers
    • Others
  • Residential Sector
  • Industrial Sector

By Region:

  • North America Electric Sub-meter Market
  • Latin America Electric Sub-meter Market
  • Europe Electric Sub-meter Market
  • East Asia Electric Sub-meter Market
  • South Asia & Pacific Electric Sub-meter Market
  • Middle East & Africa (MEA) Electric Sub-meter Market