Market Research Blog – Page 14564 – New Product Development

Pallet Pooling Market By Structural Design, Material & Region – Forecast 2019-2029 : 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.

According to a new research report published by Future Market Insights (FMI), the pallet pooling market is estimated to exhibit 6% CAGR over the forecast period, to reach a valuation of more than US$ 11 Bn by the end of 2029.

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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 and detailed information related to stacked products on pallets.
Pallet pooling is a onetime investment business, in which, the owner has to purchase pallets and then pooling can be done with no enormous 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 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 at fixed rental rates throughout the term of the agreement, and customisations can be made in rental agreement terms to suit the period of budget allocation and income patterns.”

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

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Are considered being 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.

PALLET POOLING MARKET TAXONOMY

Structural Design

Blocks
Stringers
Customised

Material

Wood
Composite
Plastic
Steel
Other Metals

End User

FMCG
Food & Beverages
Pharmaceuticals
Electronics
Chemicals
Others

Region

North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East & Africa

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

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

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About Industrial Automation Division at Future Market Insights

The Industrial Automation & Equipment division at FMI adopts a novel approach and innovative perspective in analysing the global machinery and industrial automation market. A range of FMI’s market research reports offer comprehensive coverage of capital, portable, process, construction, industrial, and special purpose machinery used across manufacturing sector. The team also conducts distinctive analysis about installed base, consumables, replacement, and USP-feature application matrix, making us a prominent voice of authority in the industry. We are associates of choice for established as well as budding industry.

For additional information, write to the analyst at press@futuremarketinsights.com

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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Investments in Civic and Industrial Infrastructure to drive Stainless Steel Welded Pipes Market: FMI

Global stainless steel welded pipe market is expected to reach US$ 16.36 Bn in 2021 with a stable long-term projection, according to latest insights from Future Market Insights, an ESOMAR-certified research and consulting firm. The report offers analysis of 20+ high-growth markets, providing detailed insights on the stainless steel welded pipe market’s growth in the next decade.

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Demand for stainless steel welded pipes decelerates as operations across construction, automotive, water supply and distribution, oil and gas, petrochemical and fertilizers, power generation, and other sectors were hampered amid COVID-19 outbreak. However, considering the possibility of a stimulus for infrastructure projects in many countries, the long-term outlook of the market remains positive.

Surge in demand for stainless steel welded pipes from applications such as oil and gas will remain a chief growth driver due to the presence of oil rigs all over the globe. For the transportation of the fluid from one place to another, large quantity of pipes are required, which will drive the sales in the market. The same applies with the water supply and distribution segment because the demand is expected to surge amid rising need for uninterrupted water supply.

The replacement of old pipes with new stainless steel welded pipes can also provide a boost in the sales of stainless steel welded pipes. The substantial increase in the demand from the supplier side and from the end-use industries across the globe is propelling the stainless steel welded pipe market growth.

The use of stainless steel welded pipes in construction and automotive and power generation applications will create solid opportunities for growth. According to FMI, the construction sector is expected to account for nearly 29% of sales in the market by 2031. Investment in residential, commercial, and infrastructural construction projects will increase in the future, paving way for the expansion of the market.

Key Takeaways

Stainless steel welded pipe market is expected to grow at 4.6% CAGR between 2021 and 2031
Investment in construction projects will remain a chief growth driver in the U.S., enabling it to account for nearly 72% sales in North America
Focus on improving public infrastructure will drive growth in the U.K. market at 5.5% CAGR between 2021 and 2031
India is expected to register increasing investment in water supply and distribution to ensure safe drinking water to all citizens and support industrialization. This will create attractive opportunities for stainless steel welded pipe sales
China will emerge as a highly lucrative market in East Asia, accounting for maximum sales of stainless steel welded pipes

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“As competition continues to grow, companies operating in the market are likely to adopt strategies for strengthening their global footprint. Besides expanding operations across emerging nations, they are likely to focus on launching better quality stainless steel welded pipes to gain competitive edge” says FMI analyst.

Stainless steel welded pipe market is likely to grow at a moderate pace during 2021-2031. However, as it is a matured market, companies are expected to concentrate further on research and development activities to develop more in the field of construction, oil & gas and water supply and distribution, majorly focusing on the outer diameter required for the specific applications. Collaboration with local players and developing new technology in the form of advanced stainless steel welded pipes is a prime strategy expected to increase in popularity in the forecast period.

Competitive Landscape

The market is fragmented, with key players accounting for approximately one fifth of the market share. These players are likely to invest in new technology developments and expansion of their networks in order to maintain their market shares. Some of the key players in the market are Marcegaglia, Sosta GmbH & Co. KG, ArcelorMittal S.A., Nippon Steel, Hyundai Steel Co., Ltd, Sandvik AB, Shanghai Metal Corporation, FROCH ENTERPRISE CO., LTD., F.E.R. Fischer Edelstahlrohre GmbH, YC Inox, JFE Steel Corporation, CSM TUBE spa, Guangzhou Pearl River Petroleum Steel Pipe Co., Ltd., Guangdong Lizz Steel Pipe Co, Ltd., Foshan Zhongde Stainless Steel Co., Ltd. & others.

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Get Valuable Insights into Stainless Steel Welded Pipes Market

Future Market Insights, in its new offering, provides an unbiased analysis of the global stainless steel welded pipes market, presenting historical demand data (2016-2031) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the market based on grade (300 series, 400 series, 900 series, and nickel alloy grade), application (construction, automotive, water supply & distribution, oil & gas, petrochemical & fertilizer, and power generation), and outer diameter (4 – 36 mm, 36 – 60 mm, 61 – 150 mm, 151 – 500 mm, and 500 – 1000 mm) across seven major regions.

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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Electrical Testing Services Market witnessing a robust growth rate of over 6.9% during 2018-2028

Electrification efforts of emerging economies are providing a progressive platform to electrical testing services market. The developments in electricity infrastructure of the countries is thriving at rapid pace, and the move is intended to provide affordable and uninterrupted electricity to different parts across the globe. This also demands installation of power transmission equipment such as transformers, which will have a direct impact on the demand for electrical testing services market.

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According to a recent market forecast by Future Market Insights, the global electrical testing services market is expected to reach a market value of over US$ 7,800 Mn by the end of 2028, witnessing a robust growth rate of over 6.9% during the forecast period 2018-2028. The growth of market is also reinforced by the outburst in demand for green energy or renewable energy sources such as wind, solar and hydro. With the increase in demand for the green energy, the market will also witness a significant rise in demand for electrical testing services market in the near future.

Rapid Urbanization to Help MEA Mark Highest Growth Rate in Coming Years

With greater scope for development, MEA stands out to be the fastest growing region in the global electrical testing services market. Growing industrialization and urbanization will support the growth of electrical testing services in the global market over the forecast period. Thus, emerging regions that are still going under the installation processes provide a better scope for electrical testing services market. According to the International Energy Agency (IEA), by the end of 2030, 600 million out of the total 674 million people without the access to electricity live in Sub-Saharan Africa, a majority of them in the rural areas. Attributing to this, Africa provides immense opportunities for service providers to augment their business capabilities in the region. India stands out in terms of growth in electrification rate across the country. According to IEA, half a billion people have gained electricity since 2000. In India, the electrification rate is nearly about 82% and with ongoing government initiatives, India will achieve universal access to electricity by 2020s. This is expected to open up new horizons for the augmentation of the electrical testing market in India.

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Electrical Testing Services Market Taxonomy

By Service Type

Transformer Testing Circuit Breaker Testing Protection Testing Battery Testing

By End User

Power Generation Stations Transmission & Distribution Stations Steel Plants Major Refineries Railways

Region

North America Latin America Western Europe Eastern Europe SEA and Other Pacific China India Japan MEA

Personnel safety stands out to be the foremost factor that maintains the prevalence of electrical testing market

Unchecked electrical equipment has a greater probability of causing dangerous situations such as current leakage, short circuiting, faults in wiring, leakage of transformer oil and equipment par corrosion. Significant number of deaths in industries are caused by faulty electrical equipment such as transformers, gas circuit breakers and rectifiers.

These faulty equipment pose the hazard of causing both electrocution as well as generation & propagation of fire. Growing dependency of large institutes such as power generation plants, manufacturing industries, and oil refineries on testing of the electrical equipment will continue to boost the electrical testing services market. Some other advantages, including improved life of the equipment.

Certification by Testing Services Bolsters Market Presence of Companies in the Global Market

Regular testing of the huge electric equipment becomes necessary as steel plants, and other heavy industrial equipment are particularly large in size and cumbersome to handle with. Replacement of these equipment on the account of failure usually takes months or sometimes years based on the original specifications, whereas regular testing helps avoiding failures. The testing services work in accordance with the testing standards laid down by reputed national and international accreditation bodies. The testing service providers can significantly improve its service quality and leapfrog other players in market recognition if it complies and provide certifications of InterNational Electrical Testing Association (NETA), Bureau of Indian Standards (BIS), and Electrical Research & Development Association (ERDA).

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Some recent trends such as growth of transmission and distribution network are also capable of bringing in revolutionary growth of global electric testing services market. The coming years will give a clear picture of many such influencers of electrification and electrical testing services market.

To get further insights on global electrical testing services market, reach out to the team of research analysts at press@futuremarketinsights.com

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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Report: https://www.futuremarketinsights.com/reports/Electrical-Testing-Services-Market

Centrifugal Pumps Market Outlook, Geographical Segmentation, Industry Size & Share, Analysis to 2031 – FMI

Global sales of centrifugal pumps are set to be valued at over US$ 29 Bn in 2031, with a steady long-term projection, according to the latest insights by Future Market Insights (FMI). The report estimates the market to expand at 4.6% CAGR from 2021 to 2031. In the centrifugal pumps market, the industrial and domestic segments totaled US$ 24.3 billion for 2021, according to the annual market analysis conducted by FMI.

Strong demand from the water and wastewater sector and the food and beverage industry drives the centrifugal pump market in terms of volume. Demand for centrifugal pumps slumped in 2020 due to the COVID-19 pandemic.

However, the water and wastewater segment of the industry was not affected as much due to the latest guidelines issued by World Health Organization (WHO) on water sanitation standards which bodes well for sales in the near future. Despite the economic impact of the crisis in many countries, the market’s long-term outlook will remain optimistic.

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FMI predicts healthy growth in the oil and gas industry, particularly in economies such as China, U.S., the Middle East, and Africa. Centrifugal pumps are important for ensuring accurate and repeatable transportation and pumping operations in the industry. As a result, the rise in oil and gas sector activities around the world is driving demand for centrifugal pumps.

Global demand for centrifugal pumps is directly correlated to infrastructure development activities worldwide. Governments of developing countries such as China and India are focusing on urbanization, which in turn is anticipated to fuel demand for centrifugal pumps particularly in domestic, Water and wastewater treatment industries

The presence of numerous Chinese players offering low-priced centrifugal pumps acts as a restraint to most regional and global players. Increasing price pressure from these players is influencing key suppliers to offer high-quality, reliable, efficient and technologically-advanced centrifugal pumps at competitive rates.

Manufacturers need to evaluate life cycle costs and facilitate smart buying decisions. Centrifugal pump manufacturers need to analyze cost of energy and return of investment for centrifugal pumps compared to purchase and installation costs.

Key Takeaways from Centrifugal Pump Market Study

Multi stage pumps are expected to hold over 50% of the global market share, supported by heavy duty requirements of the oil and gas sector.
Water and wastewater applications are projected to hold over a third of the overall market share by 2031-end, aided by infrastructure investments in emerging economies.
The market in the South Africa is projected to expand at a CAGR of around 5%, while that of Mexico accounts for approximately 4%, through 2031.
The markets in India and South Korea are set to surge at higher than 5% CAGR over the coming decade.
Germany will hold the lead in Europe with a valuation of over US$ 1.2 Bn in 2021. Major investments in the natural gas sector will provide impetus.

“Developing nations are exhibiting high demand for centrifugal pumps for industrial and commercials applications, driven by rising investments into water and wastewater infrastructure by governments. This will enable growth in the overall market through 2031,” says a Future Market Insights analyst.

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Competitive Landscape

The centrifugal pumps market is highly consolidated, with key players accounting for more than four-fifth of the market share. These players are likely to invest in technology developments and the expansion of their networks in order to maintain their market shares.

Some of the key players in this industry include but are not limited to Ebara Corp., Xylem Inc., Sulzer AG, KSB Group, Flowserve Corp., and Kirloskar Brothers.

Centrifugal Pumps Market by Category

By Product Type:

Single Stage Pump
- Small
- Medium
- High
Multi Stage Pump
- Small
- Medium
- High
Axial & Mixed Flow Pump
- Small
- Medium
- High
Submersible Pump
- Small
- Medium
- High
Seal Less & Circular Pump
- Small
- Medium
- High

By Application Type:

Industrial Centrifugal Pumps
- Oil & Gas
- Chemical
- Water & Wastewater
- Food & Beverage
- Pharmaceutical
- Power
- Others
Agricultural Centrifugal Pumps
Domestic Centrifugal Pumps

By Region:

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

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Key Questions Answered in the Report

How much is the centrifugal pumps market worth?

The global centrifugal pumps market has been valued at US$ 30.3 Bn in 2021.

What is the sales forecast of centrifugal pumps Market?

The sales forecast is expected to remain positive, as the demand for centrifugal pumps is expected to rise at a steady rate of over 4% CAGR through 2031.

What was the centrifugal pumps market CAGR for the last 5 years?

The CAGR for the historical period (2016-2020) has been estimated at 2.6%.

Who are the leading players in the centrifugal pumps market and what is there total share?

The top 5 players including Flowserve Corporation, KSB AG, Sulzer AG, Ebara Corporation, and Grundfos Holding A/S is said to constitute 16% of the overall market.

What are the top 5 countries driving centrifugal pumps demand?

The top 5 countries driving demand for centrifugal pumps include China, South Korea, Russia, South Africa, and India.

About 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, the global financial capital, and has delivery centers in the 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.

Contact Us:

Future Market Insights

1602-6 Jumeirah Bay X2 Tower,
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Report: https://www.futuremarketinsights.com/reports/centrifugal-pumps-market

Variable Frequency Drives Sales Set to Recover in 2021 as Regenerative Applications Complement Traditional Demand Channels: FMI

Variable frequency drives demand is set to grow at over 4% in 2021, with growing emphasis on heating, ventilation and air conditioning (HVAC) systems and automotive pumps which are expected to generate substantial growth opportunities. The projections are based on the latest edition by Future Market Insights (FMI), an ESOMAR-certified research and consulting firm.

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The global automotive industry has made prolific advances in the recent past. Emerging as a multibillion dollar industry, the autonomous market is characterized by the emergence of a plethora of start-up investments. Consequently, adoption of high-end HVAC systems and pumps has registered an impressive uptick. According to FMI’s projections, the aforementioned segments collectively accounted for nearly US$ 10 Bn as of 2019.

Prolific growth opportunities exist in the Chinese market, owing to an ever mushrooming automotive industry. Future Market Insights estimates the economic giant to produce 4.5 million variable frequency drives by 2021-end, as production cycles revert to normalcy in the aftermath of the coronavirus crisis. Hence, manufacturers are introducing a slew of technological innovations to tap this ever expanding opportunity, thus generating powerful revenue ecosystems across the forecast period.

Key Takeaways of Variable Frequency Drives Market Study AC drives adoption surging in popularity by drive type; set to acquire 260 BPS by 2031-end U.S. and Germany to emerge as highly lucrative markets, owing to growing EV sales Growing concerns over excessive power consumption compelling automotive manufacturers to invest in low-voltage VFDs Regenerative applications to find growing applications, reaching nearly US$ 15 Bn by 2021-end Pumps and HVAC systems to collectively expand at a value CAGR worth 13% from 2021-2031

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“Rapidly expanding infrastructure for capital projects are attracting frequent capital investments, attributed to the increasing scale of urbanization. Hence, automotive sales are rising, leading to widening revenue pools for VFD manufacturers,” says the FMI analyst.

Competitive Landscape

The variable frequency drives market is a highly competitive market, with a sizeable presence of both global as well as domestic players. However, key players account for nearly half of the market share. It is characterized by large supplier base and strong B2B networks.

The market has robust partnerships throughout the value chain. Suppliers of variable frequency drives adopt acquisition and regional expansion strategies to establish a foothold. Brand consciousness and aggressive marketing makes it challenging for new entrants in the variable frequency drives market.

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More Insights on FMI’s VFD Market

A recent market study published by FMI on the variable frequency drives market includes global industry analysis for 2016-2020 & opportunity assessment for 2021-2031, and delivers a comprehensive assessment of the most important market dynamics. The market has been segmented on the basis of drive (AC drive & DC drive), voltage range (low and medium), application type (standard and regenerative), end-use application (pump, fan, compressor, conveyor, HVAC and others) and end-use industry (oil & gas, food processing, automotive, mining & minerals, pulp & paper and others) across five major regions.

Commercial Refrigeration Equipment Market likely to surge to a vigorous 4% CAGR during the assessment period 2019 -2029

“[280 Pages Report] Commercial Refrigeration Equipment Market will exceed revenues worth US$46 Bn by 2019 end, likely to surge to a vigorous 4% CAGR during the assessment period 2019 -2029 ”

[280 Pages Report] Commercial Refrigeration Equipment Market will exceed revenues worth US$46 Bn by 2019 end, likely to surge to a vigorous 4% CAGR during the assessment period 2019 -2029

$46Witnessing an uptick of 3.4% over 2018, the worldwide sales of commercial refrigeration equipment will exceed revenues worth US$ 46 Bn by 2019 end. As showed by a recent research study of Future Market Insights (FMI), the market for commercial refrigeration equipment will progress at a moderate CAGR over 2019 – 2029. The demand would be prominently driven by greater production of F&B goods and a preferential shift of consumers towards quick service restaurants (QSRs), at a global level.

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Sustainable and energy-efficient refrigeration systems will become a norm across the end-use industries, which should compel manufacturers to increase their investments in R&D and product innovations. Leveraging energy-efficient technologies to offer low global warming potential (GWP) products with rich functionalities will be the ticket to capturing significant market share in the long run.

COMMERCIAL REFRIGERATION EQUIPMENT MARKET KEY TAKEAWAYS

Growing demand for ready-to-eat products and expanding retail outlets are driving the sales of commercial refrigeration equipment. North America and Europe would collectively account for over half of the market value share by 2029 end. The food services sector will remain prominent application area to invest in, for commercial refrigeration equipment market players. The enforcement of new refrigerant regulations such as the EPA 680 Upgrade, and the Kigali Amendment for the phase-down of HFC refrigerants will largely affect the market growth. The higher average unit cost of freezers & refrigerators eludes lower volume sales vis-à-vis value gains, with just about 2.6 million unit sales in 2018. Glass door merchandizers that account for around a third of total volume sales continue to see relatively low revenue generation as compared to freezers & refrigerators. Sales of beverage dispensers and display cases across end-use industries will show a moderate increase year-over-year in 2019, which will collectively represent nearly 16% of total commercial refrigeration equipment sales in that year.

Manufacturers who are keeping the innovation quotient high and providing turnkey solutions to meet regulatory requirements, with safety to end users at the core, will be rewarded in the long run.

Chinese Players Striving to Win Home Market

In developed markets, rapid acceptance of alternative refrigerants to benefit from regulatory standards along with expansion of F&B processing industries continues to contribute to the development of the commercial refrigeration equipment market. The growth of Asia Pacific’s commercial refrigeration equipment market was influenced by a shift of Asian eating habits towards western-style convenience food. With the ability to manufacture their own compressors, Chinese companies are gaining competitive edge to reign supreme in their home market with indigenous brands.

Competition Trends

In 2018, the top four stakeholders, including Carrier Corporation, Daikin Industries, Ltd., Danfoss A/S, and Hussman Corporation, collectively accounted for 20-25% revenue share. The emergence of many young players in developing countries has resulted in price competition, with leading market players losing their profit margins. Market fragmentation will continue through 2029, driven by regional regulatory norms and enhanced capabilities of the local players.

Commercial Refrigeration Equipment Market Taxonomy

The global commercial refrigeration equipment market is segmented to cover every aspect of the market and present a complete market intelligence approach to the reader.

By Product

Beverage Refrigerator Drinking Fountain Soda Fountain Beer Dispensing Equipment Beverage Coolers Freezers & Refrigerators Freezer & Chillers Blast Chiller/Stock Freezers Contact Freezers Refrigerators Walk-in-Refrigerators Reach-in Refrigerators Transportation Refrigerators Trailers Trucks Shipping Containers Glass Door Merchandizers Hinged Door Sliding Door Display Cases Ice Cream Cabinets Bakery/Deli Display Beverage Dispensers Refrigerated Vending Machine Ice Machine Ice Scream Machine

By Application,

Food Services, Food & Beverage, Retail Food & Beverage, Production Food & Beverage, Distribution

By Region

North America Latin America Europe South Asia East Asia Oceania Middle East and Africa

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Learn More About What the Report Covers

This FMI report is an extensive analysis of the global commercial refrigeration equipment market that offers actionable insights on how the market growth will unfold over the forecast period, 2019 – 2029. The market for commercial refrigeration equipment has been categorized into various segments for analysis, based on the type of refrigeration equipment, application area, and region. The study provides valued information on key competition trends and most preferred developmental strategies of leading market brands.

Yacht Charter Market 2022 Outlook, Current and Future Industry Landscape Analysis 2031

“Yacht Charter Market By Yacht Type (Sailing Yacht (Sloop, Schooner, Catamaran, Ketch), Motor Yacht (Displacement Type, Semi-Displacement, Planing, Catamaran, Trimaran), Size (Small, Medium, Large), Consumer Type (Corporate, Retail) & Region – Forecast to 2021 – 2031 ”

Global yacht charter sales is expected to grow at a healthy CAGR of over 5.4% during the forecast period 2021-2031, according to a study by ESOMAR-certified market research firm, Future Market Insights (FMI). The study tracks yacht charter sales in 20+ countries, offering a lucid analysis on how growth trend will unfold.

Market players have been attempting to provide advanced yacht for charter as they have realised the value of incorporating cutting-edge technology. As a result, existing players are increasingly attempting to preserve full operational transparency and deliver advanced smart yachts with a range of smart technologies to offer multifunctional areas and spaces, main saloon, and beach clubt.

For instance, the sensational mega yacht LANA (107m/351.1ft) from Italian shipyard Benetti embraces art deco dignity and seamlessly blends it with the sporty curves, pale colours, and various textures of contemporary architecture. Guests will enjoy a beautiful beach club with fold-down terraces, a hammam-style spa and a gym, as well as big lounges with cinema-style seating.

Apart from that, yachts spend the majority of their time cruising within reach of the coast. As a result, the players are investing to make 4G LTE and 5G networks more available than ever before, offering cost-effective high-bandwidth connectivity to consumers on board through bonded 5G compliant data systems.

Such offerings entice customers to spend long hours with their families and friends, or to make their holidays memorable. All aspects of a luxury yacht, including navigation, safety, and extraordinary convenience, are improving due to new technologies.

For example, DLBA Naval Architects have developed a self-sailing superyacht. Tempo, the yacht, will incorporate artificial intelligence (AI) into various aspects of its architecture. This will not only boost the on-board experience, but it will also mean that certain systems will be able to function without the need for human intervention.

Another factor that is expected to boost the growth of the yacht charters is the short-term rentals, which typically last one to three days and are not affected by seasonality, a factor that limits the number of days available for renting yachts. With the rising demand for short-term rentals, yacht charter service providers are concentrating on regular rental rates for two-day yacht charters, which are usually 40-50 percent of the weekly fare.

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Key Takeaways from the Yacht Charter Market Study

The yacht charter market is forecast to rise at a CAGR of 5.4% between 2021 and 2031.
High spending on luxury vacations catapults the U.S. as a key market.
Demand in Thailand will continue rising in response to the expanding tourism sector
Indonesia and Maldives will emerge as popular yacht charter destinations in Asia Pacific
Demand in GCC countries will rise at above 7% CAGR between 2021 and 2031

Impact of COVID-19 on the Market:Before the COVID-19 pandemic, there was a moderate rate of growth in the demand for yacht charter globally. After the pandemic, major global markets have faced dual impacts. The demand for technology-driven motor yacht has increased due to its variety of benefits. But with stay-at-home orders and safer-at-home advisories issued across the world the demand of the yacht charter has decelerated in response to the implementation of various restrictions. The restrictions were also imposed on the tourist places such as Indonesia, Malaysia, the U.K. and the U.S.

Who is winning?Some of the key players present in the yacht charter market are NORTHROP & JOHNSON, Yachtico Inc., Sailogy S.A., Sweet Escape Yacht Charters, ARGO NAUTICAL LIMITED, Burgess, Sunseeker , Royal Yacht International, Ionian Catamarans and IYC, Mooring Company, and Zizooboats GmbH, among others. Extensive discount offerings on the yacht charters during the seasons and on some events such as corporate parties or pre-wedding shoots and other such events has driven a desire among end consumers to opt for the charters embedded with smart technologies.

Architects and builders are looking for natural and green-certified construction materials. Alternative energy sources such as the sun, wind, and waves can now be harnessed with the help of technological advancements. The use of wastewater treatment methods and compostable supplies, as well as recycling and the removal of unnecessary plastic waste, are all employed. The players are concentrating their efforts on providing environmentally friendly yachts in order to contribute to long-term initiatives. For instance, the Black Pearl is an environment friendly private yacht that was recently awarded a Boat International Design and Innovation Prize. When the boat is sailing, electricity is provided and sent back to the batteries, so the hybrid diesel-electric engine does not need a charging station.

In 2019, Feadship Company introduced 75-meter motor yacht 703 ‘Arrow’ for charter at its Aalsmeer shipyard. H2 Yacht Design produced the company’s Arrow yacht.

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Yacht Charter Market by CategoryYacht Type

Sailing Yacht
- Sloop
- Schooner
- Catamaran
- Ketch
Motor Yacht
- Displacement Type
- Semi-Displacement
- Planing
- Catamaran
- Trimaran

Size

Small (up to 30m)
Medium (30m-50m)
Large (over 50m)

Consumer Type

Corporate
Retail
- Individual
- Family/Group
- Couple

Region

Rest of EMEA
APAC
Americas
Mediterranean
Caribbean

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Residential Water Treatment Devices Market Insights, Deep Analysis of Key Vendor in the Industry 2022-2031

“Residential Water Treatment Devices Market By Product (Water Filters, Distillation Units), Price Range (Economy, Mid-Range, Premium), Installation Type (Point of Use, Point of Entry), Sales Channel (Hypermarkets/Supermarket, Convenience Stores, Specialty Stores) & Region – Forecast 2021 – 2031 ”

According to a recent report by Future Market Insights (FMI), the residential water treatment devices market is expected to surpass a valuation of US$ ~23 Bn in 2021 and at a CAGR of approximately ~5% through 2031.

Market players are investing in cutting-edge water filtration technologies such as carbon nanotubes and sophisticated membrane systems. The discovery of new, uncommon contaminants, the promulgation of new water quality regulations, and cost have all influenced the development and application of water treatment systems.

Reverse osmosis, nano filtration, dialysis, and electro-dialysis are examples of membrane techniques. These systems are high-tech and have relatively expensive capital and operating expenses, but they can discharge vast amounts of highly treated water.

Furthermore, photocatalytic water treatment has gained popularity in recent years due to its efficacy in purifying contaminated water. Toxic chemicals are removed from water using photocatalysts and ultraviolet (UV) radiation. Panasonic, for example, created a technique that links the photocatalyst (titanium dioxide) to a commercial adsorbent and a catalyst called zeolite, enabling photocatalyst separation and recovery from water for reuse. Titanium dioxide has the ability to mineralize a variety of organic molecules, resulting in safe end products. To separate compounds, the catalyst uses UV energy from the sun or artificial light.

Besides this, connected water filters are an emerging trend in smart home products. By supplying continuous data to app platforms, smart water filters may perform a wide range of functions, from monitoring water quality to informing consumers their daily water intake.

For instance, IN 2019, Xiaomi launched three new models in the India market. This includes a smart water purifier, which contributes to the country’s growing Internet of Things (IoT) ecosystem. The Mi Smart Water Purifier (RO+UV) is a product designed exclusively for India. It is the only smart and DIY water purifier available, according to the manufacturer.

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2016-2020 Global Residential Water Treatment Devices Market Outlook Compared to 2021-2031 ForecastAs per FMI, demand is projected to grow at a healthy 5% CAGR over the forecast period, in comparison with the 3% CAGR registered between 2016 and 2020.

Residential water treatment devices remove harmful chemicals, gases, suspended solids, and biological pollutants from drinking water, making it safe to drink. Sales have grown steadily over the years as a result of improved availability of purification and filtration devices, a diverse product offering, and population growth.

However, the latter has also resulted in increased contamination of fresh water sources and the construction of new residential buildings, thereby propelling sales in the market.

Pollution of surface and ground water resources from agricultural, industrial, and home sources is the world’s greatest water challenge. It has long been recognized that urbanization has a negative impact on water quality in general. Given that practically all drinking and irrigation water demand is met by freshwater resources, the falling water quality index of freshwater resources is a major source of worry.

Chemically polluted water, unlike biological contamination, has no direct effect on human health; however, it causes buildup in the body and adverse effects. As a result, in the residential sector, customer choice is shifting toward water treatment equipment such as water treatment devices, ensuring the consumption of water with an excellent water quality index. This factor is complementing the growth of the market.

Contaminated water, according to the World Health Organization (WHO), can spread diseases like diarrhea, cholera, dysentery, typhoid, and polio. Each year, 485 000 diarrheal fatalities are estimated to be caused by contaminated drinking water. As a result of the rise in such ailments, demand is expected to remain high over the assessment period.

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Key Takeaways:

Based on product type, demand for water filters is projected to remain high over the assessment period, growing at a 4% CAGR.
In terms of price range, sales of mid-range devices are projected to increase at a 5% CAGR through 2031.
In terms of installation type, demand in the point-of-entry segment is anticipated to increase at a 6% CAGR.
Sales through online retailing are projected to grow at a 6% CAGR over the forecast period.

Impact of COVID-19 on the MarketPrior to the COVID-19 outbreak, there was a slow but steady increase in global demand for household water treatment devices. The two main challenges that affect household water treatment equipment manufacturers are safety and government orders made at the federal, state, and local levels.

Due to the initial shutdown, social distance norms, and limited local and state government office activities, water treatment equipment manufacturing and installation are severely hampered. In regions where it is permissible and safe to do so, players are still selling water purification systems with minimum labour.

Furthermore, the home water treatment equipment industry has been hampered by a scarcity of workers, hefty taxes, and rigorous government regulations. The market, on the other hand, is gradually reflecting prospective prospects as economies begin to recover.

Who is winning?Leading manufacturers of residential water treatment devices are A.O. Smith Corporation, Kent Supreme, Eureka Forbes, Panasonic, Aqua Care, 3M, Aquasana, Waterwise Inc., Everpure, and GE Appliances among others who are focused on aggressive promotional strategies and advertisements that have driven sales growth of residential water treatment devices globally. For instance:

Water-Right, Inc., a water treatment solutions supplier, was bought by A. O. Smith Corporation in 2019. All Water-Right subsidiaries, real estate, and sister business Mineral-Right, Inc. were included in the deal.

Global Residential Water Treatment Devices Market by CategoryBy Product Type:

Water Filters
Distillation Unit
Others

By Price Range:

Economy (Below US$30)
Mid-range (US$30-US$100)
Premium (Above US$ 100)

By Installation Type:

Point of Use
Point of Entry

By Sales Channel:

Hypermarkets/ Supermarkets
Convenience Stores
Specialty Stores
Online Retailing
Others Sales Channel

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
MEA

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Car Rental Service Market Insights, Deep Analysis of Key Vendor in the Industry 2022-2031

“Car Rental Service Market by Car Type (Economy Cars, Compact Cars, Luxury Cars, Intermediate Cars, Premium Cars), End Use (Intercity, Intracity, On-Airport), Consumer Type (Business, Leisure), Booking Mode (Offline Access, Mobile Application, Internet Access), Sector (Organized, Unorganized) and Regions for 2021-2031 ”

Newly released data by Future Market Insights (FMI) shows that the global car rental services market is expected to reach a valuation of US$ 134 Bn in 2021. Growing popularity of ride-sharing services is expected to augment the growth of the market, pushing sales at a 7.2% CAGR over the assessment period.

Subscription models are increasingly gaining traction among consumers as they are cost-effective and offer more convenience. Driven by this, various OEMs are entering the market with improved service offerings, which is expected to augment the growth of the market.

Further, players are aiming to improve their present working models, while utilizing their abilities in fleet management and existing public fleet presence to gain a competitive advantage.

Vehicle subscriptions are expected to entice customers who may not represent conventional customer profiles for OEMs. For example, few extravagant OEMs are trying membership models widen their customer base.

Moreover, the car subscription model permits customers to maintain a strategic distance from upfront capital necessities and long-term contracts related with buying or renting. It also allows consumers to access comfort and adaptability with the “all-in” month-to-month expense and responsibility.

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2016-2020 Global Car Rental Service Market Outlook Compared to 2021-2031 ForecastAdvancements in technology are enabling the expansion of web-based sales channels, which is resulting in higher sales in the market. Online platforms allow customers to rent a car anytime and anywhere. They also assist the renter in initiating and manageing their reservations and payments on the go from a smartphone or tablet.

The car rental service business is a vision of a more flexible, faster, and responsive industry. Players such as The Hertz Corporation, Enterprise Holdings Inc., Avis Budget Group, and others already utilizing updated technologies to improve their customer experience as well as service.

For instance, National Car Renta, a subsidiary of Enterprise Holdings. Inc., has come up with the latest version of its National app. The app allows customers to skip the line and pick the car of their choice where it’s available. It also allows customers to select the before they arrive at the car rental location.

Further, opaque renting is a booking platform that allows online customers to offer the value they need to pay for a specific travel-related product or service without knowing the brand. The brand is revealed after the customer makes the online purchase. This platform gives rental car companies a chance to improce sales and to use their fleet to full capacity.

These trends are gaining traction amaong market players as consumers are seeking more cost-effective car rental services. Technological advancement in mobile capabilities, combined with the development of web-based media reinforces the opaque customer’s position and draw more cost-driven customers toward the opaque booking channel.

Backed by the aforementioned factors, sales are projected to increaset at a healthy 7.2% CAGR over the assessment period.

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Key Takeaways:

Based on car type, demand for economy cars is expected to surge at a considerable pace over the forecast period.
In terms of end use, the on-airport segment is projected to remain dominant through 2031.
Sales in the mobile application segment are forecast to continue gaining traction over the forecast period.
The U.S. is expected to dominate the North America market owing to the presence of key market players and increasing preference for ride-sharing services.
Demand in the U.K. is expected to remain high due to growing prevalence of medical tourism in the country.

Competition LandscapeSome of the key players operating in the car rental services market are Enterprise Holdings Inc., The Hertz Corporation, Avis Budget Group, Europcar Group, Carzonrent, Sixt SE, AI Futtaim Group, Localiza-Rent A Car, Eco Rent A Car, and GlobalCARS among others.

Leading players operating in the market are offering services aligned with consumers’ expectations to gain a competitive edge in the market. Besides this, players are investing in mergers, acquisitions and collaborations to strengthen their footprint in the market. For instance:

In January 2020, Localiza Rent A Car SA had been ranked 7th place in customer service – EXAME / IBRC (Ibero-Brazilian Institute for Customer Relations)
In 2019, Enterprise Holdings, Inc. had acquired Romsey-based car rental company, SHB Hire Ltd. The latter operates a fleet of over 18,500 commercial vehicles and this acquisition would help the company to form one of the largest U.K. commercial vehicle rental business.
In 2019, Hertz Global Holdings and Air France jointly launched Hertz DriveU, which had designed to meet all customer transportation needs.

Car Rental Services Market by CategoryBy Car Type:

Economy Cars
Compact Cars
Intermediate Cars
Premium Cars
Luxury Cars
Others

By End Use:

Intercity
Intracity
On-Airport
Others

By Consumer Type:

Business
Leisure

By Booking Mode:

Offline Access
Mobile Application
Other Internet Access

By Sector:

Organized
Unorganized

By Region:

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

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Intelligent Pigging Services Market Insights, Deep Analysis of Key Vendor in the Industry 2022-2029

“Intelligent Pigging Services Market By Technology (Magnetic Flux Leakage, Ultrasonic Test), End Use (Oil, Gas) & Region Forecast to 2019 – 2029 ”

The latest market research study by Future Market Insights on intelligent pigging services includes the global industry analysis for 2014-2018 and opportunity assessment for 2019-2029. The study observes the intelligent pigging services market and offers thorough insights for the forecast period of 2019-2029. According to the analysis and study done in the report, the global intelligent pigging services market is anticipated to observe prominent progress, due to high advancements in the inspection technologies.

The intelligent pigging services market was valued at ~US$ 537 Mn in 2018 and is anticipated to expand at a CAGR of ~6% during the forecast period of 2019-2029.

The intelligent pigging services market has high potential to develop in regions such as North America, Eastern Europe, and the Middle East and Africa. North America and Western Europe have stringent pipeline safety regulations to protect the environment and avoid the business discontinuity, thereby potentially raising the demand for intelligent pigging services.

Most of the regulatory authorities across the globe lay emphasis on the regular maintenance and inspection of the oil and gas pipelines. This is due to the fact that regular supply is the key to ensure stable economic growth. The original equipment manufacturers (OEMs) and vendors are constantly investing in research and development to improve the pipeline and maintenance procedures. The advanced intelligent pigging technologies enable efficient diagnosis of flaws in the pipeline such as deformation and multi data to locate dents, corrosion and seam defects, which are being used by pipeline operators. Rapid industrialization across the globe is driving the consumption of petroleum, which will simultaneously drive the demand for intelligent pigging services.

Implementation of in-line pigging services based on MFL, UT, and EMAT technologies requires substantial capital investment, which hampers the adoption especially in developing economies such as India and ASEAN countries. According to the FMI analysis, the average pricing of intelligent pigging technologies such as MFL and UT is anticipated to increase by approximately 5%–7% on y-o-y basis over the next 10 years. Due to this high costs involved in the intelligent pigging services, various pipeline operators opt for different alternatives, which are cost-effective as compared to smart or intelligent pigging services. This is inhibiting the growth of the intelligent pigging services market globally to some extent.

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North America Region to Offer Significant Growth Opportunities for Market Players

With growing technological progression and advancements in the electronic systems over the years, various original equipment manufacturers offer smaller intelligent pigs as compared to conventionally used pigs, equipped with sophisticated and small size electronic systems. This will increase the profitability of easy maintenance of pipelines with smaller diameter.

For the global intelligent pigging services market, North America is anticipated to be a prominent region throughout the forecast period, owing to the stable growth of petroleum consumption. Increasing adoption of intelligent pigging services in Eastern Europe and the Middle East and Africa along with North America and Latin America are anticipated to provide lucrative growth opportunities for the market players.

Magnetic Flux Leakage Technology Expected to Remain Prominent

The division of the global intelligent pigging services market has been done on the basis of technology and end use along with seven regions.

On the basis of technology, the magnetic flux leakage technology is anticipated to remain prominent in the forthcoming years. Ultrasonic test is also anticipated to project relatively high growth over the forecast period.

The ultrasonic test technology has noteworthy benefits where a transducer emits an ultrasonic sound that travels in the pipeline wall. The thickness of the wall is determined by calculating the time consumed for an echo of the ultrasonic sound to return to the sensors. Pigs, which are based on UT technology, require a liquid medium in order to travel through the pipeline.

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Intelligent Pigging Services Market: Vendor Insights

The global intelligent pigging services report highlights on some of the major industry players in the global market. Some of the examples of key players in the market are T.D. Williamson, Inc., LIN SCAN, GE Oil and Gas (PII Pipeline Solutions), Baker Hughes Incorporated, Enduro Pipeline Services Inc., NDT Global, OMV Group, Petrobras, Royal Dutch Shell PLC,and ConocoPhillips,among others.

Intelligent Pigging Services Market: SegmentationTechnology

Magnetic Flux Leakage
Ultrasonic Test

End Use

Region

North America
Latin America
Western Europe
Eastern Europe
APEJ
Japan
Middle East and Africa

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