Green Tires Market Competitive Growth Strategies Based on Type, Applications, End User and Region

The green tire is a way big dream for tire manufacturers. It’s a rocky road to fulfill this dream. Replacement of the raw materials present in tires with renewable materials may harm the braking performance and compromise here is not acceptable. Currently, the label “green” is used for tires, designed to improve fuel economy.

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Green Tires Market: Overview

In the early 1990s the green tires came into existence with the usage of highly dispersible silica in tire treads in Europe due to high energy costs, consumer appreciation for better handling and safety, and understanding the environmental benefits. The demand for green tires is now increasing in the United States.

With rapid urbanization and increasing pressure on fuel consumption, the acceptance of green tires is gaining popularity. The global green tires market is expected to expand at a promising CAGR during the forecast period (2015-2025).

The tire is a crucial vehicle component that covers the wheel’s rim to protect it and enable better vehicle performance. Tires provide traction between the vehicle and road while providing a flexible cushion bed to absorb shock. Tires are typically made of rubber. With the increasing environmental and energy concerns, tire manufacturers are stepping forward to use renewable raw materials. Plasticizers and resins could also be potentially used in green tires. As of 2014, 45% share is of natural raw materials in tires which are expected to grow to 100% by the end of 2025.

The report covers exhaustive analysis on:

  • Market Segments
  • Market Dynamics
  • Market Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Technology
  • Value Chain

These environmental-friendly raw materials are ten percent lighter than conventional products used in the manufacturing of tires. This helps in the reduction of the overall weight of a car, so it requires less fuel. Green tires are developed to optimize fuel consumption via reduction of rolling resistance. Rolling resistance refers to the energy required by the tire’s road contact and its deformation. Reduction in rolling resistance requires total control over the complex relationship between the tread pattern, tire structure, and rubber compounds.

With the soaring population and fuel economy regulations imposed by the government, the demand for green transportation increases. Globally, tire manufacturers are adding precipitated silica to tread formulations to improve fuel efficiency, enhance tire performance and eliminate greenhouse gas emissions. Reducing rolling resistance or the amount of energy spent to move a vehicle, is seen as an important solution in decreasing fuel consumption and hence the costs associated. As tires are responsible for 20% to 30% of a vehicle’s fuel consumption.

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Green Tires Market: Region-wise Outlook

The global green tires market is expected to register a double-digit CAGR for the forecast period. Depending on geographic regions, the global green tires market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. As of 2015, Europe dominated the global green tires market in terms of market revenue followed by North America. Asia Pacific & Japan are projected to expand at a substantial growth and will contribute to the global green tires market value exhibiting a robust CAGR during the forecast period, 2015-2025.

About one-fourth of the pollution is generated by a vehicle to overcome the rolling resistance of its tires. In the US itself, an annual reduction of up to 45 million tons of carbon dioxide emissions could be achieved by the addition of precipitated silica to tire treads. Silica also significantly improves a tire’s responsive handling and steering capability in a variety of adverse weather conditions. These tires also have been shown to improve traction on icy roads.

Green tires are also alternatively termed as energy tires in Europe, where the main advantage of going green is promoted as lower rolling resistance. They are therefore viewed to be an important growth market in terms of business to all European tire manufacturers and suppliers. Alongside Japan, Europe is at the most advanced level in this important technology process and more advanced than Asia or the United States.

Regional analysis includes

  • North America (U.S., Canada)
  • Latin America (Mexico. Brazil)
  • Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, ASEAN, Australia & New Zealand)
  • Japan
  • The Middle East and Africa (GCC, S. Africa, N. Africa)

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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By Segmentation:

The global green tires market is broadly classified based on product type, applications, and geographies.

Based on application, the global green tires market is segmented into:

  • On-road
  • Off-road

Based on product type, the global green tires market is segmented into:

  • Passenger Tires
  • Light Commercial Tires
  • Heavy Commercial Tires

Key Players

Some of the key market participants in the global green tires market are PPG Industries Inc, Pirelli Tyre S.p.A Bridgestone, Green Arc Tire Manufacturing Inc, Goodyear Tire & Rubber Co, Michelin North America Inc.

Metal Stamping Market Competitive Growth Strategies Based on Type, Applications, End User and Region

Increasing usage of sheet metal across the consumer electronics and automotive industry is expected to positively impact the growth of the metal stamping market. Low raw material prices have been witnessed to compliment usage of light-weight corrosion resistive metal stamping for enhancing the stability of electrical & electronic and consumer electronic products. Technologically advanced metal stamping has been witnessing increased usage across commercial sectors since the recent past. Key players and manufacturers in the metal stamping market are taking immense efforts in developing sustainability strategies with regards to stamping owing to rising regulatory policies.

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The metal stamping industry has been significantly influenced by consumption patterns across sectors such as automotive, telecommunications, and consumer appliances. In addition, the shifting trend of substituting metals with composites and polymers for decreasing the weight of vehicles resulted in increased fuel efficiency and is likely to hamper the growth of the metal stamping market.

The growing adoption of the bending process in various industry verticals to improve the stability, durability, and quality of manufactured parts is anticipated to stimulate the growth of the metal stamping market. The aerospace industry is expected to create lucrative growth opportunities for the metal stamping market shortly. Metal stamping demand is expected to increase with an increasing focus on safety, demand for catering to stringent quality standards as well as the use of versatile and lightweight components for maintaining reduced fuel costs and low weight of aircraft.

The report covers exhaustive analysis on:

  • Market Segments
  • Market Dynamics
  • Market Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Technology
  • Value Chain

The rising competition in the automotive industry has led to the growth in demand for the global metal stamping market. In the global metal stamping market, the desired shape of the metal is achieved by pressing or punching process with the help of stamping dies. The process of punching or the application of pressure can be done either manually or mechanically as per the requirement. Metals predominantly used in the global metal stamping market are aluminum, steel, brass, copper, and stainless steel. The global metal stamping market is expected to grow with a single-digit compound annual growth rate during the forecast period.

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Metal Stamping Market: Region-wise Outlook

The global metal stamping market in North America and Europe is anticipated to grow at a good pace due to the growing demand in the automotive industry. The global metal stamping market is estimated to grow with a single-digit CAGR in North America during the forecast period. The industry is replacing ferrous materials with non-ferrous materials to reduce vehicle weight. In the developing regions, Asia and Latin America are expected to be the prospective market due to the expansion of capacity utilization and also the growing trend of outsourcing.

Regional analysis includes

  • North America (U.S., Canada)
  • Latin America (Mexico. Brazil)
  • Western Europe (Germany, Italy, France, U.K, Spain)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, ASEAN, Australia & New Zealand)
  • Japan
  • The Middle East and Africa (GCC, S. Africa, N. Africa)

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

By Segmentation:

Based on product type, the global metal stamping market can be segmented into the following segments:

  • Vehicle stamping
  • Job stamping
  • Others

Based on end-users, the global metal stamping market can be segmented into:

  • Automotive
  • Aerospace
  • Consumer electronics
  • Telecommunication
  • Electrical & electronics
  • Others

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Key Players

Some of the few key players in the global metal stamping market are American Industrial Company, Martinrea International Inc., Magna International Inc., Hayes Lemmerz International, Harvey Vogel Manufacturing Co., Haitong Metals, D&H Industries, Inc., Dongguan Fortuna Metal Stamping Company, ThyssenKrupp AG, Alcoa Inc. and American Axle & Manufacturing, Inc.

Some of the key vendors in the global metal stamping market are Fiat Chrysler Automobiles, Toyota Motor Corporation, Ford Motor Company, General Motors, BMW AG, Whirlpool, and Boeing.

Industrial Pumps Market Competitive Growth Strategies Based on Type, Applications, End User and Region

Industrial pumps find application in various industries and play an essential role in moving an assortment of fluids from one location to another. Industrial pumps come in a variety of shapes, sizes, and capacities. Industrial pumps are broadly segmented as centrifugal pumps (also called roto-dynamic pumps) and positive displacement pumps. Centrifugal pumps comprise axial, mixed-flow, and radial types.

Positive displacement pumps include piston, screw, sliding vane, and rotary lobe types. Conformance to performance standards and reliability of these pumps is very crucial. For instance, pump failure in a cooling system can result in overheating and substantial damage to equipment.

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Regional Analysis:

The global industrial pump market has been witnessing new developments in micro disc pump technology. One of the key factors contributing to the growth of this market is the increase in infrastructural development.  China, India, and other Asian and African countries are experiencing robust investments into infrastructure, which is expected to aid in increasing industrial output; in turn, driving growth for industrial pumps. Demand for industrial pumps from the process and manufacturing industries is expected to drive the growth of the industrial pumps market in developed regions such as Europe and North America.

Western Europe is expected to witness sluggish market growth, characterized by stagnant economic conditions and low industrial output. Eastern Europe is expected to exhibit relatively stronger growth owing to improving industrial output in the chemicals and water treatment industries. Middle East expenditure for industrial pumps is expected to rise as the pump sales in this region are expected to gain traction due to investments in desalination plants.

Regional analysis includes

  • India
  • China
  • ASEAN
  • Oceania

Improving economic conditions in the Asia Pacific (APAC) region are expected to open up enormously potential opportunities for pump manufacturers, like the automotive, construction, and manufacturing industries are likely to witness substantial growth in the coming years. Along with the harsh impact of the recent recession, tough competition from low-cost manufacturers in developing nations is indeed a major restraint for the development of the industrial pumps market in this region. Customers are usually inclined towards low-cost products, which barely comply with environmental standards. This factor is impacting the industrial pumps market to a considerable extent.

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As it is difficult to compete with low-cost rivals based on price, leading industrial pump manufacturing companies will need to adopt different promotional strategies, based on the quality of their products, services, and maintenance to sustain in the global market.

Pumping systems are critically important for any process or manufacturing plant to operate efficiently. Industrial pumps are used for various industrial applications such as power and petrochemical plants, which directly support generation and production processes, and usually, work for extended durations. It is estimated that around 27% of all the energy consumed by any industry is constituted by motor-driven equipment. This offers manufacturers of industrial pumps a window of opportunity to improve efficiency and launch newer and more innovative products.

This research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically-supported and industry-validated market data and projections with a suitable set of assumptions and methodology. The report provides analysis and information by categories such as market types, technology, and applications.

It report covers exhaustive analysis on:

  • Market Segments
  • Market Dynamics
  • Market Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Technology
  • Value Chain

Competitive Analysis:

The key players in the industrial pumps market are ITT Corp., Flowserve Corp., KSB AG, Sulzer Ltd., Grundfos A/S, Ebara Corp., Weir Group plc, Baker Hughes, Inc., Schlumberger Ltd., and Clyde Union, Inc.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. In addition, the report also maps the qualitative impact of various market factors on market segments and geographies.

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Market Segmentation:

Various end-use industries for industrial pumps include water, wastewater, oil & gas, chemicals, food & beverages, and others. Centrifugal pumps are the extensively used type because of their low cost, low maintenance, and long service life. Centrifugal pumps are used in high-flow, low head applications with low fluid viscosity. In contrast, positive displacement pumps are used in low-flow, high head applications with high viscosity fluids and accurately controlled flow applications.

Pectin Powder Market | One the Most Booming Industry in Upcoming Years Due to Global Demand in Industry by 2027

In its new study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights about key factors driving demand for pectin powder. The report tracks the global sales of pectin powder in 20+ high-growth markets, along with analyzing the impact COVID-19 has had on the food and beverage industry in general, and pectin powder in particular.

Pectin belongs to the group of hydrocolloids derived from citrus fruits and apples that is used as a gelling agent in food and a variety of other purposes. Pectin powder is widely used in the production of jams and jellies. Besides this, its consumption has been associated with a number of health benefits, including joint pain relief, arthritis treatment, inflammation treatment, digestive aid, and so on. Pectin powder is a polysaccharide carbohydrate found in and around the cell wall.

Gum hydrocolloids, like pectin powder, xanthan gum, guar gum, gellan gum, gelatin and others find application in different functional foods as they help to improve stability and provide viscosity to food and beverages.  Hydrocolloids is used to convert food products into their semi solid food components due to their adhesive nature. Use of gum hydrocolloids in processed food is expected to result in rise of pectin powder globally.

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Increasing interest in organic, herbal, and fruit-based goods, resulting from rising cases of diabetes, obesity, and cardiac issues will fuel the demand for pectin powder. The advent of ‘superfruits,’ a concept that refers to highly nutritious fruits, exemplifies this. More 25,000 super fruit-derived products are available in the market today. Given the pectin’s impressive nutrient profile, pectin and its derivatives fit right in. Pectin powder contains pectin, pectolytic enzymes, carotenoids, fiber, vitamin B, proteins, and other salts in addition to vitamin C. From a market standpoint, the fruit’s low calorie and fat-free nature make it appealing.

Pectin-based goods are comparatively more expensive due to their exotic and export-dependent nature. When compared to synthetic vitamin C, the high price is due to higher production costs. This further limits their appeal to a selective group of people, such as those who live in cities and earn a lot of money. This is a restraining factor which reduces the demand of pectin powder.

“Manufacturers are tilting towards the use of pectin powder in the production of non-alcoholic beverages and as a flavorless additive to improve the consistency of packaged food such as jams & jellies, a trend which is majorly influencing the pectin powder adoption,” says the FMI analyst

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Key Takeaways

  • High methoxyl pectin powder is expected to hold over 55.5% market share through 2021
  • In terms of end-user, food & beverage industry is accounted for 76.8% of market share in terms of value through 2021
  • The U.S. is expected to hold the largest market share and is slated to increase at over 3.7% CAGR through 2031
  • India is poised to register excellent growth of 9.7% CAGR on the back of recent supply chain developments within food & beverage industry
  • Increased usage of pectin powder in Brazil as a key ingredient in jams & fruits spread is spurring the sales
  • Countries such as U.K., China, France and Germany are expected to witness high demand of pectin powder from food & beverage industry

Competitive Landscape

Leading manufacturers are relying on new product launches that matches the consumer requirement and regulatory policies for vegan, preservatives-free and halal food. Reluctance for processed foods have compelled the key players to manufacture products with natural ingredients, spurring the manufacturing of pectin powder.

Key players are also adopting various organic & inorganic strategies such as targeted collaboration and divestiture of assets to improve the operational efficiency of the company. For example, Givaudan in September 2020 announced that it has divested its pectin business, a part of the Naturex portfolio, to Herbstreith & Fox Group, to strengthen the former company’s business.

Another leading player CP Kelco, in December 2020, launched GENU Pectin YM-FP-2100, a new pectin product to improve and add medium-to-high viscosity in the fruited drinking yogurt.

Some of the prominent pectin powder manufacturers profiled by FMI are:

  • E.I. DuPont De Nemours And Company
  • Cargill Inc.
  • Naturex S/A
  • CP Kelco
  • Herbstreith & Fox Group
  • Compania Espanola de Algas S.A.
  • Silvateam SPA
  • DSM Andre Pectin Co. Ltd.
  • Lucid Colloids Ltd.
  • Others

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More Insights on the Global Pectin powder Market

Future Market Insights, in its latest study, provides an unbiased analysis of the pectin powder market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the pectin powder market with a detailed segmentation on the basis of:

Product Type:

  • High methoxyl pectin
  • Low methoxyl pectin

Application:

  • Food and beverage
  • Dietary supplements
  • Pharmaceuticals
  • Personal care and cosmetics
  • Others

Region:

  • North America
  • Latin America
  • Europe
  • Japan
  • The Asia Pacific excluding Japan
  • Middle East and Africa

Key Questions Covered in the Report

  • How will the market for pectin powder will expand through 2031?
  • Which top companies are leading the global pectin powder market?
  • What are the key drivers and trends that will stimulate the pectin powder sales?
  • What are the challenges that will affect the sales of pectin powder market?
  • Which region will remain the most lucrative throughout the forecast period?
  • What is the impact of Covid-19 on pectin powder market?

Commercial Refrigeration System Market Competitive Growth Strategies Based on Type, Applications, End User and Region

Refrigeration is the process of removing excess heat from space and transferring the same to the environment. It is well known that spoilage of food, beverages, and many other substances is reduced at a lower temperature. Thus to preserve many types of perishable products from spoilage and keep them fresh for a longer duration, a commercial refrigeration system is used where the temperature is maintained at a level much below that of its surroundings.

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The commercial refrigeration system market is segmented based on application in food& beverage production, food & beverage retail, food & beverage distribution, and the food storage & service industry where refrigeration systems are used for commercial purposes. The refrigeration system is extensively used in grocery stores, supermarkets, convenience stores and speciality food stores. The food service industry on the other hand includes restaurants and cafeterias. Customization of refrigeration systems as per the customer’s demand is a key trend in the global commercial refrigeration system market. Expanding food retail chains mostly in tier II and tier I cities in developing regions is significantly driving growth in the commercial refrigeration system market.

The global commercial refrigeration system market is also segmented based on refrigerant types that are hydro chlorofluorocarbon (HCFC), hydrofluorocarbon (HFC), hydrocarbon (HC), inorganic which includes ammonia and carbon dioxide. The refrigerants markets which are used in refrigeration systems are expected to grow at a CAGR of 5 to 7% and fuel the growth of the global refrigeration system market. The use of refrigerants is leading to the greenhouse effect and is giving way to the use of green refrigerants in the commercial refrigeration system market.

Competitive Analysis:

Major players in the global commercial refrigeration system market include Hussmann, Dover Corporation, Ingersoll Rand PLC, Daikin, AHT Cooling System GmbH, Traulsen, Berkshire Hathaway Inc, Johnson Controls Inc, and PanasonicCorporation. Key players have adopted strategies including joint ventures along with mergers and acquisitions to expand globally and are simultaneously improving their distribution network to establish a strong market presence.

The commercial refrigeration system market is witnessing a significant uptake in the commercial sector especially due to growing hotels, restaurants and organised retail showrooms. The research report presents a comprehensive assessment of the commercial refrigeration system market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, applications, and types.

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The report covers exhaustive analysis on:

  • Market Segments
  • Market Dynamics
  • Market Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Technology
  • Value Chain

The global commercial refrigeration system market is segmented based on product types such as beverage refrigeration, freezers & refrigerators and transportation refrigeration. Transportation refrigeration system consists of trailer refrigeration system, truck refrigeration system, and shipping containers refrigeration system. The growth in the international food trade between nations due to change in the food consumption pattern amongst consumers is driving the demand for the transport refrigeration system.

Regional Analysis:

The global commercial refrigeration system market is estimated to grow almost twofold during the forecast period and register double-digit CAGR. North America is the dominant commercial refrigeration system market in terms of revenue share followed by APAC and Europe. Growth in the food and service industry and changing consumer preferences for dining food in North America are driving growth in the commercial refrigeration system market domestically.

The European commercial refrigeration system market on the other hand is estimated to show significant growth with rising demand for frozen food items and expansion of retail chain in this region. The commercial refrigeration system market is witnessing the increasing use of solar-powered systems and this technology is anticipated to play a major role in addressing energy scarcity issues. The utilization of advanced refrigerants and energy-efficient systems are some of the upcoming trends in the global commercial refrigeration system market. More use of commercial refrigeration systems in horticulture processes and seafood exports is expected to fuel the demand of the global refrigeration system market.

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Regional analysis includes:

  • North America
  • Latin America
  • Asia Pacific
  • Japan
  • Western Europe
  • Eastern  Europe
  • Middle East & Africa

Compact Construction Equipment Market Competitive Growth Strategies Based on Type, Applications, End User and Region

The players in the compact construction equipment market are working towards harnessing these opportunities by extending their businesses of compact construction equipment in promising markets and lucrative regions. The compact construction equipment market is, therefore, expected to witness major transformations in the forthcoming years. The key players in the compact construction equipment market are approaching the market with new strategies and an improved approach to carry out their business.

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The compact construction equipment market has been showcasing new opportunities in recent times. The players in the compact construction equipment market are working towards harnessing these opportunities by extending their businesses of compact construction equipment in promising markets and lucrative regions. The compact construction equipment market is, therefore, expected to witness major transformations in the forthcoming years. The key players in the compact construction equipment market are approaching the market with new strategies and an improved approach to carry out their business.

The construction equipment industry comprises a wide range of heavy machines which perform specific tasks for various applications. Construction equipment can be classified according to the size and capability of the construction machinery. However, there have been a few changes in their classification based on design specifications and cost-effectiveness. Compact construction equipment is an emerging term used in the construction equipment industry due to its utility advantages.

Compact construction equipment is small units that are designed to work on small commercial and residential sites. The major utility factor of compact construction equipment is their versatility and ability to perform those tasks that were earlier dedicated to heavy machinery. The main advantages of compact construction equipment are that it is low cost, lightweight, and easy to transport and operate. However, there is no industry standard to specify any requirements to be met for equipment to be categorized as compact construction equipment. This categorization is more dependent on the type of application it performs in a particular sector. Generally, track loaders, excavators, backhoe loaders, skid steers, and telehandlers are classified under compact construction equipment.

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Regional Analysis:

The compact construction equipment industry has shown a robust double-digit growth rate over the past few years. The most popular category in the compact equipment market is the track loaders with the largest market share. The skid steers market is the second most attractive market and is anticipated to experience healthy growth by 2020. Decent growth has been observed in the construction equipment market in North America and Western Europe and is anticipated to grow further due to an increase in construction and repair activities. Asia is anticipated to be the largest market for compact construction equipment by 2020.

Regional analysis includes

  • North America
  • Latin America
  • Asia Pacific
  • Japan
  • Western Europe
  • Eastern  Europe
  • Middle East & Africa

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness within the segments. The report also maps the qualitative impact of various market factors on market segments and various geographies.

The major factors driving the compact construction equipment market are an increasing preference for small-size construction equipment, affordable pricing, reliability, and improved productivity. The increasing number of new technology attachments available for compact construction equipment such as levelers, soil conditioning tools, and trenchers are also driving the growth of compact construction equipment. Also, the private user market such as sundowners or hobby farmers, and real estate developers have been contributing significantly to the increasing adoption of compact construction equipment. Volatility in fuel prices, low entry barriers, and lack of structure are the key challenges for the compact construction equipment market.

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The compact construction equipment industry thus comprises small products, can fit into smaller places, are versatile in application, and are cost-effective. Noticeable drivers of the compact construction equipment industry are mainly tied to the residential and commercial sectors. Also, rental industries are among the potential growth pockets for the compact construction equipment industry.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology, and applications. The report covers exhaustive analysis on:

Competitive Analysis:

The changing trends from pedal operation to the use of joysticks, availability of suspension seats and air conditioners at reasonable prices, are further driving growth in the compact construction equipment market. Another emerging trend is the GPS tracking system in compact equipment which is a major attraction for rental purchasers as it helps them to safeguard their machinery against theft and track its location when needed. Self-monitoring and auto shutdown are other attractive emerging trends in the compact construction market. The major players in the market are Case, JCB, Mustang, John Deere, Volvo, Ditch Witch, Gehl, Vermeer, Caterpillar, and New Holland.

Industrial Weighing Equipment Market Competitive Growth Strategies Based on Type, Applications, End User and Region

Weighing equipment is the instrument used to measure the weight of a product. Industrial weighing equipment is used to measure the weight of various products such as instruments, chemicals, and machines in industries. Industrial weighing equipment is present everywhere in the industry from the initial stage that is raw materials stage to the final stage, distribution of finished products, and its applications across a wide range of industries will continue to uphold demand for the product, ultimately boosting the growth of the global market for industrial weighing equipment.

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Advancements in next-gen technologies have been triggering paradigm shifts in the integral designs of industrial weighing equipment for years, and the trend is likely to persist in the coming future. Leading manufacturers are continually introducing innovative features by integrating advanced weighing technologies such as process weighing technology, and other popular technologies such as the Internet of Things (IoT) and Artificial Intelligence, to make today’s industrial weighing equipment smarter.

Competitive Landscape
  • Avery Weigh-Tronix
  • RADWAG WagiElektroniczne
  • CI Precision Ltd.
  • A&D Weighing
  • Atrax Group NZ Ltd,
  • Avery Weigh-Tronix.
  • Thompson Scale Company
  • Eastleigh Limited
  • Bilwinco AS
  • D Brash &Sons Ltd
  • Sartorius AG Ohaus Corporation
  • Maguire Products Inc.
  • Mettler Toledo International Inc.

The global market for industrial weighing equipment is highly fragmented as the number of smaller companies entering the market is increasing. Nevertheless, leading manufacturers, as well as small industry players, are concentrating on offering utmost levels of accuracy through innovative features, and modifying their strategies to sync with the changing business environments.

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Region-wise Analysis

The industrial weighing equipment market is geographically segmented into seven key regions which are, North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. Asia Pacific is anticipated to be the fastest-growing industrial weighing equipment market with a CAGR expected to be around 6% in the coming years. In the region, the demand is mainly triggered by increasing applications of weighing technologies in many industrial activities, and thereby, industrial growth is among the biggest drivers of growth for the market in the Asia Pacific.

Sales are also likely to remain healthy in the North American region, as manufacturers are introducing next-generation and technologically advanced ranges of their products under the category of industrial weighing equipment. Tightening quality standards and safety regulations are triggering the adoption of highly accurate and high precision weighing equipment in the industrial setup across the region, and this will incur the trend of product innovation in the industrial weighing equipment market in the Americas.

Region-wise Analysis
  • North America (U.S., Canada)
  • Latin America (Mexico, Brazil)
  • Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
  • East Asia (China, Japan, South Korea)
  • South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
  • Oceania (Australia, New Zealand)
  • Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)

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Segment Analysis

The industrial weighing equipment market can be segmented based on the following:

Product Type

  • Checkweighers
  • Counting Scales
  • Floor Scales
  • Rail Scales
  • Other

End-use Industry

  • Chemicals
  • Manufacturing
  • Mining
  • Food & Beverage
  • Other industries

Stretch Wrappers Market Expanding At 5.8% CAGR; Thriving Food and Beverage Industries Enables Growth

The global stretch wrappers market is forecast to surpass the valuation of US$ 710 Mn by the end of 2031 projects ESOMAR-certified consulting firm Future Market Insights (FMI). Optimizing consumption with respect of resource availability is an area of improvement among market players. Small scale industries which cannot afford costly automatic stretch wrapping machine depend on manual packaging and daily wage labors. Availability of cheap labor in emerging economies is affecting the automatic stretch wrapping market. With rising cost and limited availability of raw materials, the automatic stretch wrapping is expected to grow in upcoming years.  Faster wrapping and reduced transportation or shipping cost benefits offered by automatic wrapping machine will accentuate the market growth.

Surging demand for pallet wrapping from pharmaceutical industries has created a lucrative opportunities for stretch wrappers market growth. Food and beverage sector still remains the largest consumer of stretched wrappers. The growing demand for protected and secure stretch wrapped pallet for safe transportation and stabilization of empty bottles and cans from manufacturing to filling stations will increase the market growth. Stretched wrapper also keeps the bottles clean from contamination. Rising consumer demand for spill and damage proof delivery of product will significantly increase the stretched wrapper market demand.

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“Automatic stretch wrapper is proving to be a game changer in packaging industry as it reduces the overall cost of product and enhances the production capacity. It eliminates the need for skilled labor and can operate 24/7. These capabilities of automatic stretch wrapper machine will positively affect the market growth,” says the FMI analyst

Key Takeaways

  • Italy houses the largest export tendency sector with nearly 300 industrial size companies located in the country. Rising adoption of advance automation and robotic packaging machinery will propel the market growth in Italy
  • Presence of food and beverage products giants in US has significantly boosted the demand for stretch wrappers in the country. Growing preference towards atomized packaging and processing method will positively impact the market growth in US.
  • Flourishing tissue and allied product industries in Germany and rising customer spending on eco-friendly tissues has boosted the stretched wrapper market demand.
  • Competitive pricing and efforts to provide products at lower cost to capture market will boost the stretch wrappers market sales in China. Increasing production capacity of food and beverage and tissue products to cater the surging demand will boost the market demand in China.
  • India is expected to rise as a profitable stretch wrapper market during the forecast period. Rising automation in manufacturing and packaging sector will increase the market demand in India.

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Competitive Landscape

FMI has profiled some of the prominent market players providing stretch wrappers that include Reo-Pack A/S, Orion Packaging Systems LLC, Signode Industrial Group. LLC, Wulftec International Inc., Cousins Packaging Inc., UNITECH SRL, Innova Maquinaria Industrial S.L, DNC packaging Machinery, Strema B.V., FROMM Group, Messersì Packaging S.r.l., Technowrapp srl, Hangzhou Youngsun Intelligent Equipment Co., Ltd., Easypac Systems, PACKWAY INC, Phoenix Wrappers, Inc., Lantech, Inc., Millwood, Inc, Aetnagroup S.p.A., ARPAC LLC, Atlanta Stretch Spa, BEMA SRL, Tosa spa, Movitec Wrapping Systems SL, PAGLIERANI s.r.l., Matco International Gevelsberg GmbH, ATECMAA PACKAGING, Rees Machinery Group Ltd, K M Trivedi Engineering Pvt. Ltd., Multi Pack Machinery Company.

Industry leaders are developing customized stretch wrappers in an attempt to gain competitive advantage. They are expanding their product range by optimizing their production to satisfy the growing customer demands. Strategic acquisition is on the table for as a market expansion strategy among leading players. For instance, Aetnagroup S.p.A. acquired leading packaging machine manufacturers OCME S.r.l., in May 2019.

More Insights on the Global stretch wrappers Market

Future Market Insights, in its new offering, provides an unbiased analysis of the stretch wrappers market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the stretch wrappers market with a detailed segmentation on the basis of machine type (turntable, ring, robotic, rotary arm), order type (customized, standard), end use (food and beverage, pharmaceuticals, tissue) across major regions (North America, Latin America, Asia Pacific Excluding Japan (APEJ), Western Europe, Eastern Europe, Middle East and Africa (MEA), Japan)

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Key Questions Covered in the Report

  • How will the market for stretch wrappers will expand through 2031?
  • Which top manufacturing companies are leading the global stretch wrappers market?
  • What are the key drivers and trends that will stimulate the stretch wrappers sales?
  • What are the challenges that will affect the sales of stretch wrappers market?
  • Which region will remain the most lucrative throughout the forecast period?
  • What is the impact of Covid-19 on stretch wrappers market?

 

Computerized Maintenance Management System (CMMS) Market 2022 Key Players, SWOT Analysis, Key Indicators and Forecast to 2031

The global computerized maintenance management system (CMMS) market is expected to reach a valuation of US$ 2.75 Mn by 2031. The increasing demand for CMMS software among small and mid-sized businesses and rising adoption of asset monitoring solution in energy and utilities sector are fuelling the demand for CMMS solutions.

A CMMS software enables balancing the resources and maintaining the maintenance costs so that maintenance backlog doesn’t get out of hand. The software captures small repairs that would otherwise go unnoticed and enables maintenance tasks to be properly scheduled, assigned, and prioritized before any major failure occurs.

Within manufacturing plants, every equipment is of a very high cost. If any of these machines or equipment remain idle for a certain period of time, it can impact business operation and profit. CMMS software provides great assistance in manufacturing plants. The software prevents machines & equipment from failure and breakdown. Thus, several large and start-up manufacturing firms are focusing on implementing CMMS software to manage maintenance activities, prevent machine breakdowns, and prepare for future repairs.

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In its new study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights about key factors driving demand for CMMS solutions. The report tracks the global adoption of CMMS products in 20+ high-growth markets, along with analyzing the impact of COVID-19 on the global adoption of CMMS solutions, along with the pre-COVID and post-COVID market growth analysis.

Increase in the number of manufacturing facilities, and rising demand for enhanced maintenance of operations and rise in adoption of cloud/web-based technologies are some of the key factor propelling the growth of CMMS market globally. The manufacturing segment will remain the key end user in the market, accounting for a share of 30.5% followed by energy and utility segment.

Key Takeaways: Computerized Maintenance Management System (CMMS) Market

  • The global CMMS market is estimated to register a CAGR of 8.7% during the forecast period of 2021-2031
  • The U.S. has remained early adopter of latest technologies. It also exhibits increasing uptake of CMMS software and services, accounting for over 80% of North America market
  • Expansion of energy and utilities sector will drive sales in the U.K., enabling y-o-y growth at 10.1% in 2021
  • China will continue leading the East Asia market on the back of consistently rising manufacturing activities
  • Increasing investment in modern technologies will pave way for expansion in India

 “A CMMS software plays a critical role in an industry’s move from reactive maintenance to proactive to predictive maintenance. Integration of AI and IoT with CMMS solution will create huge opportunities for software vendors” says FMI Analyst.

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COVID-19 Impact Analysis on CMMS Market

The COVID-19 pandemic has clearly divided individual’s needs into essentials and non-essentials. Utilities – electricity, gas, and water – fall firmly in the first category. As these industries are the key part of a nation’s economy, as other industries depend on it to serve the needs of every common man. Power, utilities & renewables (PU&R) companies are continuously focusing on keeping their assets on-line and providing safe, reliable supplies of electricity and natural gas during the pandemic.

Energy and utility providers across the globe are becoming increasingly concerned about the spread of the virus among their employees. This puts a bigger demand and more stress on organizations to take a more aggressive approach to improve worker safety through preventive best practices and proper preparation. In these times, automation of your workflow can really help streamline your operations.

CMMS software tools can help manage sudden changes in operations – like making changes in maintenance schedules or placing an emphasis on facility cleaning – like those that were required after the COVID-19 outbreak. The software manages the auto-routing of work orders to right staff, escalating critical work and having the proper notifications to alert team members, and getting approvals for appropriate work.

These capabilities enable energy and utility organizations to improve operations, deliver critical communication and make sure the work continues – even in a pandemic. Thus, the CMMS market has shown significant growth during the pandemic. Increasing lockdown periods due to COVID-19 pandemic have estimated to motivate the energy and utility organizations to procure CMMS software during the forecast period.

Emergence of Mobile CMMS Software Solutions

The biggest breakthrough in the CMMS software industry is the emergence of mobile CMMS software solution. Energy and utility providers that have implemented the mobile CMMS solutions have achieved 40% improvement in productivity. Working with mobile CMMS software solution increases stability, performance, and functionality.

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Through mobile CMMS, technicians can create, retrieve, update, and close work orders from anywhere. Any smartphone, mobile devices or internet-enabled devices are used to retrieve the CMMS database in real time. Instant access to work orders provides technicians the freedom to prioritize work orders based on location, saving organization time and money. Moreover, it is used to add specific details to a work order from the job site, increasing the accuracy and timeliness of the information being added to the maintenance database.

Who is Winning?

Some of the leading companies operating in the market are IBM Corporation, Rockwell Automation, eMaint (Fluke Corporation), MicroMain Corp., Infor, Maintenance Connection (Accruent), Hippo CMMS, Limble CMMS, Mobility Work, DIMO Software, MPulse Software, FasTrak SoftWorks, CMMS Data Group, Letosys, QuickFMS, Cryotos, SIERRA ODC Private Limited, PiqoTech Software Solutions Pvt. Ltd., and IFS.

Mergers and acquisition remain highly sought-after as market players seek to expand their footprint and portfolio. For instance, in June 2018, Accruent, has acquired Maintenance Connection, a CMMS provider. This development accelerates Accruent’s efforts to help customers gain insight and make data-driven decisions for multi-site facility management.

Business Analytics BPO Services Market Is Expected To Grow At A CAGR Of 13.9% From 2021-2031

According to Future Market Insights (FMI), the business analytics BPO services market is expected to grow at a CAGR of 13.9% from 2021-2031, reaching a valuation of ~US$ 6.2 Bn by the end of 2021. As per Future Market Insights (FMI) rapid technological advancements in the IT & telecom industry have created impressive prospects for growth.

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Currently, most corporate data sources include data generated from enterprise applications with cloud-based, social network data. Organizations are focusing on finding solutions to optimize their business operations, increase their customer base, and improve market share, with an aim to drive long-term productivity.

Business analytics solutions are utilized in the analysis and retrieval of discrete data. They also enable organizations to improve business proficiency and competitiveness, to make strategic decisions and optimize operational cost.

Moreover, with an increase in business data consolidation, outsourcing of big data and analytics services is expected to increase. To meet the growing demand, business analytics service providers are investing in hiring and training programs.

Consultants need to understand specific issues of implementing analytics solutions. Leading service providers are focusing on providing interesting opportunities to consultants, which can include job rotations across different parts of the value chain (consulting, implementation, and support services).

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Key Takeaways: Business Analytics BPO Services Market

  • Demand for data analytics & visualization services are estimated to grow at a robust CAGR of 18.6% through 2031.
  • BFSI applications will consistently increase, driven by demand for analytics for the financial sector.
  • The U.S. will account for over 86% of the North America market by 2031, supported by the presence of major players and several end-use industries.
  • The market in India is expected to progress at a noteworthy CAGR of more than 26% through 2031, supported by increasing investments in the IT and telecom sector.
  • In the U.K., sales are expected to increase at a CAGR of close to 16% over the next ten years, driven by digitalization of small and medium enterprises.

 “As the complexity and volume of enterprise data continues to grow, buyers will look to leverage advanced solutions that utilize machine learning and cognitive capabilities to manage and transform unstructured data. Rising demand for business analytic services has enabled vendors to provide a diverse range of industry-specific solutions, assisting customers to ensure agility and effectiveness of an enterprise’s business processes,” says an FMI analyst.

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COVID-19 Impact Analysis on Business Analytics BPO Services Market

The impact of Covid-19 on the BPO industry is complicated and multi-faceted, and many BPO companies are still implementing changes to adapt to its effects. COVID-19 is an unprecedented crisis that has impacted business models, disrupting business continuity for companies around the globe.

Small businesses are amongst those that were hit hardest by the COVID-19 pandemic. Small business owners are using data analytics to stay afloat during the pandemic. Small businesses are reporting significant growth in analytics for marketing, finance, and customer support departments. Thus, the business analytics BPO services market is estimated to grow around 10.2% to 12.6% Y-o-Y from 2019 to 2021.