Market Research Blog – Page 1494 – New Product Development

Global Industrial and Workplace Safety Market Share to Reach USD 11.1 Billion Mark by 2033, Driven by 6% CAGR Growth

The industrial and workplace safety market is on track for explosive growth, with a projected valuation of USD 11.1 billion by 2033. This expansion reflects a steady Compound Annual Growth Rate (CAGR) of 6%, signifying a significant advancement in global safety standards. In 2023, the market achieved a notable valuation of USD 6.2 billion, marking the beginning of this promising trajectory.

A key driver of this growth is the presence detecting sensor market. Stringent industrial machine safety requirements mandated by national and international standards are propelling significant growth in this segment. Regulations such as the European Union’s Machinery Directives and North America’s OSHA regulations play a vital role in driving market expansion for industrial machine safety solutions.

Emerging Shifts in Industrial and Workplace Safety Market: Intelligent Clothing, Smart Safety, and More

In the realm of industrial and workplace safety, novel trends such as intelligent clothing, smart safety measures, autonomous vehicles, and innovative smart construction Personal Protective Equipment (PPE) are poised to make a substantial impact. These trends are likely to contribute positively to the growth of the industrial and workplace safety market.

The fusion of big data into safety tools, coupled with its application as a predictive tool for risk management, is set to open up promising avenues for growth within the industrial and workplace safety market. This integration is expected to yield lucrative opportunities for expansion.

Furthermore, a surge in the demand for industrial and workplace safety solutions is anticipated during the forecast period. This rise aligns with the rapid expansion of the surveillance industry, particularly in Europe and North America.

Industries are increasingly adopting real-time location monitoring systems (RTLMS), surveillance solutions, and environmental health and safety systems (EHS) to safeguard their assets. This positive adoption trend significantly supports the industrial and workplace safety market’s trajectory.

The industrial internet of things (IIoT) also plays a pivotal role, enabling enhanced analysis and control by virtually managing physical systems. This contributes to improved performance and adds momentum to the industrial and workplace safety market’s key trends and opportunities.

Key Insights from the Market Study:

Dominant System: Real-Time Location Monitoring Systems (RTLMS) are anticipated to claim a significant share in the market. These systems excel at identifying and tracking the real-time location of objects and individuals within a defined area, finding applications across diverse sectors.
Application Leadership: The incident and emergency management segment is poised to spearhead the market, driven by extensive deployment to curtail workplace accidents and injuries effectively.
Dynamic Growth: In the forecast period, the food and beverage segment is projected to exhibit the fastest Compound Annual Growth Rate (CAGR). This surge can be attributed to heightened demand for these systems due to the influence of various regulations.
Regional Dynamics:
- Europe is expected to experience substantial market growth due to stringent regulations like GDPR. The region’s industrial and workplace safety market outlook remains positive.
- Asia Pacific holds promise as its government and regulatory framework for labor safety and well-being shapes various trends in the industrial and workplace safety market during the forecast period.

North America is primed to lead the market share, propelled by the presence of global technology innovators and tech-savvy consumers. The region’s demand for innovative workplace safety solutions, coupled with robust safety standards, fuels market growth. Utilization of advanced technologies and smart sensors for equipment monitoring further enhances opportunities for industrial and workplace safety companies in this region, as highlighted by an FMI analyst.

Competitive Landscape:

The major players in the industrial safety market are Honeywell International Inc. (US), Rockwell Automation, Inc. (US), Schneider Electric SE (France), Siemens AG (Germany), ABB Ltd. (Switzerland), Emerson Electric Co. (US), HIMA (Germany), Yokogawa Electric Corp. (Japan), Omron Corporation (Japan), and Baker Hughes (US).

Industrial and Workplace Safety Market by Category:

By Type:

Machine Safety
Worker Safety

By Component:

Presence Sensing Safety Sensors
Safety Controllers/ Modules/Relays
Programmable Safety Systems
Safety Interlock Switches
Emergency Stop Controls
Two-Hand Safety Controls
Others

By Safety System:

Emergency Shutdown System (ESD)
High Integrity Pressure Protection System (HIPPS)
Burner Management System (BMS)
Fire & Gas Monitoring System
Turbomachinery Control System (TMC)

By Industry:

Oil & Gas
Energy & Power
Chemicals
Food & Beverages
Aerospace
Automotive
Semiconductor
Healthcare & Pharmaceuticals
Metals & Mining
Others

By Region:

North America
Europe
Latin America
Asia Pacific
Middle East Africa

Access Report Details for More In-Depth Information:

Author:

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

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

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

About Future Market Insights (FMI)

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

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Gas Generator Sets Market Size Anticipated to Surge Past USD 17,667.8 Million by 2033, Expanding at 6.7% CAGR | FMI Study

The global gas generator sets market is expected to expand at a 6.7% CAGR during the forecast period. Revenue from the sale of gas generator sets is expected to increase to USD 17,667.8 million by 2033, up from USD 9,237.2 million in 2023.

Several primary factors drive the gas generator sets industry’s development and acceptance. The growing need for dependable and continuous power supply across multiple sectors, including residential, commercial, and industrial, is a crucial driver. Natural gas generator sets provide a cost-effective and efficient option by using natural gas as a cleaner and more sustainable fuel source. Rising worldwide population, urbanization, and industrialization exacerbate the need for backup power options, fueling demand for gas generator sets. Furthermore, strict government rules aimed at decreasing emissions and encouraging cleaner energy options help to expand the industry, since gas generator sets release fewer amounts of pollutants than diesel or gasoline equivalents.

Despite its development potential, the gas generator sets industry is hampered by numerous constraints that prevent widespread use. One key impediment is the high initial cost of installing and configuring gas generating sets. The infrastructure needed for natural gas delivery, such as pipelines or storage facilities, may be costly. Furthermore, the availability and accessibility of natural gas infrastructure vary by area, limiting gas generator set market penetration. Furthermore, the industry’s reliance on natural gas costs and supply changes may provide issues for end-users and producers, affecting overall growth.

Manufacturers and service providers have a lot to look forward to in the gas generator set industry. With a rising emphasis on renewable and sustainable energy solutions, opportunities for combining gas generator sets with renewable energy sources such as solar or wind are emerging. This combination improves energy efficiency, lowers emissions, and increases dependability.

Remote monitoring, predictive maintenance, and real-time performance optimization are all possible with these technologies, which improve operational efficiency and reduce downtime. Another rising trend is the construction of microgrid systems that use gas generator sets as a decentralized power source. Microgrids provide energy independence, better resilience, and improved grid stability by providing localized power production. Furthermore, manufacturers are emphasizing the development of small and modular gas generator systems to fulfill space limits and give scaling choices. This trend applies to a wide range of applications, from domestic backup power to large-scale industrial operations.

Key Takeaways from the Gas Generator Sets Market:

The residential application market is expected to reach USD 2.3 billion by 2033.
The commercial sector emerges as the major end-user segment in the gas generator sets industry, accounting for 44.0% of total value.
The United States has emerged as a market leader in the worldwide humidifier industry, with a significant 23.9% value share in 2022.
Germany is a significant player in the worldwide humidifier industry, with a 6.1% value share in 2022.
Japan’s humidifier industry is booming, with a significant 4.8% value share expected in 2022.
The humidifier market in China is expanding steadily, with a value compound annual growth rate (CAGR) of 7.4% over the projected period.
With a value CAGR of 7.9% throughout the projection period, India has a strong development potential in the humidifier market.
The humidifier market in the United Kingdom is thriving, with a large 4.1% value share.

Competition Landscape in the Gas Generator Sets Industry:

The gas generator sets industry is highly competitive, characterized by the presence of several global and regional players. These companies strive to gain a competitive edge through product innovation, strategic partnerships, and market expansion initiatives.

Key Players in the Industry:

Cummins
Briggs & Stratton Corporation
Kohler
Generac Power Systems
Caterpillar
Rolls-Royce
HIMOINSA
Mahindra Powerol
Genmac
Aggreko
Eaton
Champion Power Equipment
DuroMax Power Equipment
FIRMAN Power Equipment
Westinghouse Electric Corporation
WEN Products
HIPOWER Cooper Corp.
Camda New Energy Equipment

Key Segments Covered:

By Power Rating:

≤ 50 kVA
> 50 kVA to 125 kVA
> 125 kVA to 200 kVA
> 200 kVA to 330 kVA
> 330 kVA to 750 kVA
> 750 kVA

By End User:

Residential
Commercial
Industrial

By Application:

Standby
Peak Shaving
Prime/Continuous

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

Access Report Details for More In-Depth Information:

Author:

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

About Future Market Insights (FMI)

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

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FMI Report Predicts Global Fuel Cell for Stationary Power Market Size to Cross USD 5,676.8 Million by 2033, Driving 11.1% CAGR Growth

The fuel cells for stationary power market is poised for significant growth, with a projected valuation of USD 5,676.8 million by 2033. This expansion is anticipated to occur at a robust Compound Annual Growth Rate (CAGR) of 11.1% from its current market value of USD 1,981.4 million in 2023 (Future Market Insights, Inc.). This significant growth highlights the increasing adoption of fuel cell technology as a clean and efficient power solution for buildings and businesses.

A key driver of this market expansion is the decline in production costs for fuel cells. Ongoing research and development efforts, combined with economies of scale achieved through increased production volume, have led to a notable decrease in manufacturing expenses. This improved cost-effectiveness is making fuel cell systems more competitive with traditional energy sources, paving the way for their wider adoption in stationary power applications.

Key Insights from FMI’s Analysis of Fuel Cells for Stationary Power Market:

The United States is poised to dominate the fuel cells for stationary power market with a projected 21.7% market share in 2023.
Germany is anticipated to secure a significant market share of 5.8% in the fuel cell for stationary power industry in 2023.
Japan is expected to capture a substantial market share of 4.2%.
Australia’s foothold in the fuel cell for stationary power market is predicted to reach 0.7% by 2023.
Asian nations, including China and India, are projected to showcase robust growth, with expected CAGRs of 13.2% and 12.6%, respectively, in the coming years.
The United Kingdom is set to experience steady expansion with a CAGR of 8% from 2023 to 2033.
According to FMI’s research, the top device segment, ranging from 3 kW to 10 kW, is anticipated to capture a substantial value share of 42.2% in 2023.
The commercial end-use segment is forecasted to account for a significant value share of 40.6% in 2023.

Driving Factors for Fuel Cell for Stationary Power Market Growth:

The expansion of the fuel cell for stationary power market is set to be propelled by an enhanced array of products catering to short-term supply needs across tetra networks, telecommunication base stations, and data centers. Industry players are fervently focused on innovation, driving the creation of novel solutions.

Regional Catalysts Fueling Market Expansion:

In South Korea and Japan, intensive research and development endeavors targeting efficient power generation and transmission solutions are poised to drive the decarbonization of the energy sector. Robust government funding initiatives, coupled with a surge in large- and small-scale stationary fuel cell deployments, are anticipated to fortify regional growth. For instance, South Korea’s government has outlined ambitious plans to introduce approximately 15 GW of utility-scale fuel cells by 2040.

China’s Technological Focus and Policy Impetus:

China’s fuel cell for the stationary power industry is expected to flourish as the government pivots its emphasis toward technological advancements in hydrogen fuel cell applications. In 2021, the Ministry of Science and Technology (MOST) highlighted fuel cell cogeneration as a pivotal hydrogen-energy technology. Furthermore, the rollout of comprehensive state and national-level policies across China is projected to catalyze the expansion of cogeneration technology.

Key Players Operating in the Fuel Cell for Stationary Power Market:

Cummins Inc.
Ballard Power Systems
Plug Power Inc.
Nuvera Fuel Cells, LLC.
Bloom Energy
Doosan Fuel Cell Co., Ltd.
Siemens Energy
Fuji Electric Co., Ltd.
Fuel Cell Energy, Inc.
Toshiba Corporation
SFC Energy AG
Aris Renewable Energy LLC.
Altergy
AFC Energy PLC
General Ltd.

Key Segments:

By Device:

< 3 kW
3 kW to 10 kW
10 kW to 50 kW
> 50 kW

By Application:

Prime power
CHP
Others

By End Use:

Residential
Commercial
Industrial or Utility
Others

By Region:

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

Access Report Details for More In-Depth Information:

Author:

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

About Future Market Insights (FMI)

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

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FMI Study Projects Global Facility Management Services Market Share Set to Reach USD 79,285.6 Million by 2033, Surging at 5.4% CAGR

The facility management services market is anticipated to grow at a compound annual growth rate (CAGR) of 5.4% over the forecast period. The facility management industry overview projects the market’s net worth to reach approximately USD 46,858.5 million by 2023. Moreover, FMI projects that at the conclusion of this forecast period, the total valuation would be close to USD 79,285.6 million.

The expansion of the facility management services market is fueled by factors such as increased industrialization and urbanization, increased residential and non-residential building, and increased awareness of asset protection. Furthermore, several facility management service providers, such as CBRE Group, Quess Corp Ltd, and others, are working to integrate sustainable development, technology, infrastructure, people, and real estate to achieve optimum efficiency.

As a result, the global facility management services market is predicted to rise as people become more conscious of the importance of protecting their assets or properties. However, the lack of trained personnel and resources in emerging nations, as well as a lack of managerial awareness and reliance on in-house facility management teams, are impeding the demand for facility management services.

The facility management system will benefit from growth in the infrastructure sector. Infrastructure investment is a priority for governments in a number of countries. They have begun to make significant investments in the construction of trains, ports, airports, and other infrastructure. There have been a number of cooperation with a variety of private companies, including service providers, to keep the infrastructure sustainable. Furthermore, governments are entering into agreements with a number of multinational players to finish and connect their infrastructure both inside and beyond borders.

As a result, the facility management services market is likely to be driven by the expansion of the infrastructure sector in various nations. Furthermore, service providers all around the world have a plethora of options for obtaining contracts from the private sector.

However, one of the issues limiting the facility management services market outlook is security worries about the integrity of devices and networks. Increasing security breaches and cybercrime group threats are causing distrust, which is harming industry growth.

Key Takeaways:

By 2023, the outsourced facility management services market in the United States is expected to reach US$ 200 billion. Outsourcing income is increasing in the healthcare and education industries in the United States.
Increased government measures to help smart cities are a feature of the APAC sector. The number of large public facilities, such as airports, malls, universities, hospitals, and seaports, is growing in tandem with the development of smart cities, which has boosted demand for facility management services.
The rapidly expanding building sector in Asian countries like India and China would also help the business advance in Asia.
Organizations will need to recruit qualified security staff to safeguard themselves from potential hostile attacks or criminal operations on their premises, which will fuel industry growth.

Competitive Landscape:

Jones Lang LaSalle Incorporated, CB Richard Ellis (CBRE), GDI Integrated Facility Services, Inc., Colliers International, Aramark, Compass Group, Cushman & Wakefield, EMCOR Group, Inc., G4S plc, IBM Corporation, Interserve PLC, ISS Facilities Services Inc., OCS Group, and Veolia Environment are some of the major players in the facility management services market.

Important Industry Developments:

In June 2020, Sodexo teamed with Bureau Veritas to launch a hygiene verification label for Sodexo services, providing consumers with quality assurance. This collaboration includes on-site facility management and culinary services. The label was first introduced in the United Kingdom, France, the United States, and Canada, and then progressively expanded to other nations across the world.
August 2019 – ISS has signed a five-year Vested collaboration agreement with a prominent Nordic professional services group. Furthermore, in the Nordics, this contract will take effect on October 1, 2019.

Key Segments Covered by Facility Management Services Industry Survey Report:

By Type:

Outsourced Services
In-house Services

By Service:

Hard Service
- Electrical
- Civil
- Mechanical
- Specialized Hard Services
- Others Hard Services
Soft Service
- Cleaning
- Laundry
- Landscaping
- Security
- Others Soft Services
Management Service
- Catering
- Property
- Contract Management
- Energy & Utilities
- Maintenance Planning & Control
- Others Management Service

By Application:

Government & Public Sector
Industrial Sector
Commercial Sector
IT & Telecommunication Sector
Banking, Financial Services, & Insurance (BFSI) Sector
Education & Entertainment Sector
Transportation & Logistics Sector
Healthcare Sector
Other Sectors

By Region:

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

Access Report Details for More In-Depth Information:

Author:

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

About Future Market Insights (FMI)

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

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Global Cardiac Surgery Devices Market Set for Steady Growth, Projected to Reach USD 2.4 Billion by 2032 at a 3.6% of CAGR

The global cardiac surgery devices market is poised for continued expansion, with a projected valuation of USD 1.7 billion by the end of 2022. The market is expected to grow at a compound annual growth rate (CAGR) of 3.6% during the forecast period from 2022 to 2032, reaching an estimated USD 2.4 billion by 2032.

By encouraging the use of perfusion disposables, the market for cardiac surgical instruments is anticipated to gain from the rising popularity of heart-lung machine tables. Cardiovascular disease is the leading cause of death in the United States, contributing to over one-third of all deaths worldwide and 17 percent of US healthcare costs. According to American Heart Association forecasts, by 2030, 40% of Americans will suffer from cardiovascular sickness, with a direct cost of over $820 billion.

Well-developed Medical Infrastructure Makes North America Keep its Crown

North America has a world-class medical infrastructure coupled with a population that is rapidly ageing and suffering from cardiopulmonary disorders.

This combination all but ensures that the region is larger than both Western Europe and APEJ combined in the year 2017 with a value of just under US$ 555 Million.

North America is on track to witness a CAGR of 4.1% for the period 2017 to 2027 that should see the market in the region touch US$ 830 Million by end 2027.

Most new developments are centred in North America and its high acceptance of modern technology make it an extremely lucrative region in the global cardiac surgery devices market.

Minimally Invasive Surgery Gaining Traction in Cardiac Surgery Devices Market

Coronary artery bypass grafting is anticipated to be the largest contributor in the cardiac surgery devices market by procedure in 2017 and it is unlikely to cede this position anytime soon.

However, modern advancements in cardiopulmonary bypass techniques, surgical approaches and incisions have made minimally invasive surgery increasingly popular in recent times.

Minimally invasive surgery has the advantage of reduced surgical trauma and decreased pain and this is anticipated to propel the cardiac surgery devices market in the long term.

In terms of CAGR these two segments hold the top position in the global cardiac surgery devices market, with coronary artery bypass grafting recording a value CAGR of 3.5% and minimally invasive surgery registering a 4.1% CAGR in terms of revenue during the forecast period.

Focus on Hospitals over Ambulatory Surgical Centres in the Cardiac Surgery Devices Market

The hospitals segment is larger than the ambulatory surgical centres segment by end user in the cardiac surgery devices market and this trend is predicted to continue for the foreseeable future.

An attractiveness index of 1.1 and a market opportunity of almost US$ 1.2 Bn by 2027 end should make all major companies actively target the hospitals end user segment in the cardiac surgery devices market.

Company Dashboard:

The companies actively involved in the global cardiac surgery devices market that have been profiled in the report include Biotronik, Braile Biomedica, Cook Medical Inc., Estech, Abiomed, Smith Medical, MicroPort Scientific Corporation, Edwards Lifesciences Corporation, Angiodynamics, Teleflex Incorporated, C. R. Bard, Inc, B. Braun Melsungen AG, Getinge-Maquet Germany Holding GmbH, Terumo Corporation, LivaNova PLC, Lepu Medical technology Co ltd., Boston Scientific Corporation, Medtronic, and Abbott Laboratories.

Important takeaways:

The increasing preference for minimally invasive surgical procedures is one of the recent trends seen in the cardiac surgery devices market.

In the last decade, minimally invasive cardiothoracic surgery has grown by leaps and bounds mainly because of the reduced pain and surgical trauma after this procedure.

Even though coronary artery bypass grafting is much larger at present, key stakeholders are advised to focus on minimally invasive procedures as patients will almost certainly prefer this form of treatment.

In addition to this, the beating heart surgery system type could see widespread adoption in the days ahead.

A Old Full Report Analysis Click Here

Key Segments:

By Product:

Heart Lung Machine
Breathing Heart Surgery Systems
- Stabilisers
- Positioners
Catheters
- Ablation Catheter
- Drainage Catheter
Perfusion Disposables
- Oxygenators
- Centrifugal Pumps
- Cardioplegia Delivery System

By End User:

Hospitals
Ambulatory Surgical Centres

By Procedure:

Coronary Artery Bypass Grafting
- On pump CABG
- Off pump CABG
Minimally Invasive Surgery

By Region:

North America
Latin America
Western Europe
Eastern Europe
APEJ
Japan
MEA

About Future Market Insights (FMI)

Contact Us:

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

For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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FMI Study Predicts Global Industrial Air Filtration Market Valuation to Exceed USD 56.1 Billion by 2033, Driven by 5.7% CAGR Growth

The industrial air filtration market has achieved a commendable valuation of USD 32.2 billion in 2023. This upward trajectory is expected to persist, with an anticipated market value of USD 56.1 billion by 2033. Notably, this growth is supported by a robust Compound Annual Growth Rate (CAGR) of 5.7% projected throughout the forecast period. This consistent expansion underscores the market’s pivotal role in addressing urgent environmental concerns and its capacity to contribute to improved air quality, in line with the broader objective of promoting eco-friendly environments.

The ongoing expansion of the industrial air filtration market is primarily propelled by the imperative within the waste management sector to bolster waste treatment infrastructure while concurrently reducing its environmental impact. As global concerns regarding air pollution intensify, and the consequential impact on the environment becomes increasingly evident, the adoption of industrial air filtration systems has gained paramount significance. These advanced filtration solutions are instrumental in curbing harmful gas emissions and effectively managing odorous compounds, playing a crucial role in fostering environmentally responsible practices.

Various manufacturing sectors, including automotive, heavy machinery, and aerospace, are experiencing a surge in the adoption of efficient air filtration systems. This heightened adoption is driven by the manufacturing companies’ increased focus on ensuring protective equipment, safe working conditions, and effective maintenance cleaning.

The power generation sector is embracing industrial air filtration solutions, particularly in conventional energy production. These systems enable power facilities to comply with stringent environmental regulations while improving operational efficiency. The industry continues to drive demand for industrial air filtration to combat dust and control emissions effectively.

The pharmaceutical and biotechnology sectors prioritize contamination prevention and the enhancement of air quality within their manufacturing processes. Robust air filtration systems are instrumental in maintaining safety, a pristine environment, and superior air quality in these industries.

Manufacturers in the food and beverage sector are increasingly adopting industrial air filtration systems to optimize food processing, uphold hygiene standards, and prevent cross-contamination. These systems are crucial in ensuring the consistent production of high-quality, safe food and beverages.

The metals and mining industries are witnessing a notable uptick in demand for industrial air filtration solutions. These systems are employed to effectively manage emissions, control dust, and handle hazardous chemicals. Moreover, they play a pivotal role in safeguarding workers and promoting environmental sustainability within these industries.

Key Takeaways:

The industrial air filtration market is predicted to register a CAGR of 5.7% with a valuation of USD 56.1 billion in 2033.
In the historical period, the market secured a valuation of USD 30.6 billion in 2022.
The United States is estimated to lead the global market by securing a share of 18.6% by 2033.
Germany is significantly growing the global market size by capturing a share of 3.7% during the forecast period.
With a share of 4.1%, Japan is anticipated to drive the global market during the forecast period.
Australia is projected to capture a share of 1.3% in the global market by 2033.

How Key Players are Advancing the Global Market?

Currently, within fragmented regional markets, there exist prominent vendors who play pivotal roles in the global landscape. These industry leaders have made substantial investments, channeling millions into research and development initiatives. Their commitment to innovation has yielded noteworthy products, capturing the discerning gaze of consumers.

These essential vendors are propelling the global market forward through adept marketing strategies and expertise. Their arsenal of tactics encompasses acquisitions, mergers, strategic product launches, partnerships, collaborative ventures, and further acquisitions, all designed to strategically position themselves for growth and market dominance.

Recent Developments in the Global Market:

In 2021, Alfa Laval announced to expand its LNG product portfolio by investing a huge amount in gas combustion in Gulf countries.
In 2021, Donaldson Company announced its acquisition of Solaris. To expand its revenue, the company provides better filtration solutions to the food and beverages sector.
In 2021, Eaton announced its newly launched Zero-leak Compact Combo Valve to limit hazardous pollution and safely evaporate harmful vapors.

Key Players in the Industry:

AAF; Absolent Group; Lydall Inc; BWF Group; CAMFIL GROUP; Parker Hannifin Corporation; Cummins Inc; Donaldson Co; AGET Manufacturing; Freudenberg & Co. Kg; Lydall Gutsche GmbH & Co; Kayser.

Industrial Air Filtration Market by Category:

By Product:

Dust Collectors
Mist Collectors
HEPA Filters
CCF
Baghouse Filters

By Application:

Cement
Food
Cereal ingredients
- Spices
- Feed & Raw grain agricultural products
- Eggshell & dust
- Sugar dust
- Flours
- Corn starches
- Others
Metals
- Grinding
- Sandblasting
- Welding Fumes
- Fine powders
- Others
- Power
- Pharmaceuticals
- Others

By Region:

North America
Europe
Latin America
Asia Pacific
Middle East Africa

Access Report Details for More In-Depth Information:

Author:

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

About Future Market Insights (FMI)

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

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FMI Study States Global Solar District Heating Market Size Anticipated to Surpass USD 5.26 Billion by 2033, Growing at 6.6% CAGR

The solar district heating market is anticipated to expand its roots at an average CAGR of 6.6% between 2023 and 2033. The market is expected to have a market share of USD 5.26 billion by 2033 while it is likely to be valued at USD 2.77 billion in 2023.

The lack of energy resources with the growing population and high energy consumption is visible. Governments around the world are planning to create sustainable, green, and nature-friendly energy supply. Thus, the demand for solar district heating systems are increasing.

The high-end research and developments for high energy restoration and powerful heating supply are also transforming the market’s growth trajectory. Furthermore, new brands with fast and smooth installation are helping end users with solar deployment.

Governments across the world and their goal of attaining zero-emission programs are pushing authorities to increase the energy supply through different alternative sources like biofuels, fossil fuels, wind, and solar. The solar district heating plants are usually set up in a large open space where thousands of solar panels are installed.

District heating (DH) collects heat through these solar panels and redirects them toward urban settings to heat water and air. This way the system prevents end users to waste the power supply in heating water. The amazing idea of storing the heat during summer through the panels and using it during winter makes these plants a successful idea that authorities work on. The vendors work on making the panels look observing.

Key Points:

The United States market leads the whiskey market in terms of market share in North America. The United States region held a market share of 26.8% in 2022. The growth in this region is attributed to high government investments, sustainably planned districts, and awareness programs.
Germany’s whiskey market is another significant market in Europe region. The market held a market share of 6.9% in 2022. The growth is attributed to the high government’s efforts, aware citizens, and focus on green energy and energy conservation.
India’s whiskey market is estimated to thrive at a CAGR of 6.2% during the forecast period. The market’s growth is attributed to India being the center of the solar program while the government subsidizes solar installation.
The small system segment leads the system type of segment as it holds a leading market share of 41.2% in 2023. The growth is attributed to cheap prices and easy and convenient deployment.
Based on application type, the commercial segment holds a market share of 47.8% in 2023 due to its high consumption.

Competitive Landscape:

The key vendors work on easy installation measures, cheap prices, and government approvals. Key competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.

Recent Market Developments:

Logstor A/S has introduced pre-insulated pipe systems in their district heating plants for commercial and residential spaces. The 50-year-old company works not only in Denmark but also abroad for various district heating programs.
Statkraft has also flourished with its district heating programs through the application of flexible and waterborne heating systems.

Key Players in the Industry:

LOGSTOR A/S
Orsted A/S
NRG Energy
Aalborg CSP
Statkraft
STEAG GmbH

Key Segments Covered:

By System:

Small systems
Large systems

By Application:

Residential
Commercial
- College/university
- Office Buildings
- Government/Military
- Others
Industrial
- Chemical
- Refinery
- Paper

Key Regions Covered:

North America
- The United States
- Canada
Latin America
- Brazil
- Mexico
- Rest of Latin America
Europe
- Germany
- The United Kingdom
- France
- Spain
- Russia
- Rest of Europe
Japan
Asia Pacific Excluding Japan(APEJ)
- China
- India
- Malaysia
- Singapore
- Australia
- Rest of Asia Pacific Excluding Japan (APEJ)
The Middle East and Africa
- GCC Countries
- Israel
- South Africa
- The Middle East and Africa (MEA)

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Author:

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

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FMI Projection States Global Green Building Materials Market Size to Grow at 11.2% CAGR, Forecasted to Surpass USD 962 Billion by 2033

The green building materials market is expected to hold a valuation of USD 334 billion in 2023. The market is expected to record a CAGR of 11.2% during the forecast period. By 2033, the market size is expected to cross the mark of USD 962 billion.

Leaders worldwide have started taking measures to control carbon emissions. The Japan government announced that Japan would reduce emissions by 46% by 2030 relative to 2013 levels. Likewise, in December 2022, the United States government announced USD 3.7 billion to start America’s carbon dioxide removal industry.

It is imperative to know that the construction sector is an important cog in the wheel when it comes to reducing emissions. Thus, the application of green building materials, which are meant for no carbon emissions, is expected to assist in this mission of controlling greenhouse gases.

On a product level, green building materials offer numerous benefits. These come with low operating costs and also provide thermal insulation. Their application also improves the air quality. With so much to offer, the demand for green building materials is expected to surge during the forecast period.

The global construction market is going to cross the valuation of US$ 14.4 trillion by 2030. With surging awareness regarding the benefits of green building materials, the market certainly has bright prospects going ahead.

However, the high initial cost of the green buildings and the split-incentive system are expected to hinder market growth.

Thus, from the insights provided by FMI researchers, it can be concluded that ‘stringent measures to control carbon emissions, the ability to provide thermal insulation, huge construction industry, and several other factors are expected to surge the growth of green building materials market during the forecast period.’

Key Takeaways:

The market is expected to grow at 11.2% between 2023 and 2033.
In 2023, the market value is expected to be US$ 334 billion.
By 2033, the figures might cross US$ 962 billion.
Based on regional analysis, North America is expected to hold the dominant market share.
The United States market is expected to grow at 10.9%.
The United Kingdom market is anticipated to surge at 10.2%.
China market is projected to advance at 10.5%.
Japan market is expected to record a CAGR of 9.6%.
South Korea market is projected to post a CAGR of 8.9%.
Based on type, the structural segment is expected to hold the dominant share and is anticipated to grow at 11%.
Based on application, roofing is anticipated to be the dominant segment and is projected to surge at 10.8%.

Competitive Landscape:

Sustainability happens to be the buzzword for all the manufacturers operating in the green building materials market. The processes operated by the key players are entirely on the lines of sustainability goals. The manufacturers are also acquiring other players to expand their footprints and cater to new markets. The implementation of the latest technologies like Machine Learning is expected to assist in the production of high-quality green building materials. The companies are also reaching out to individuals on a personal level to convey the importance of these materials. To do this on a large scale, the manufacturers are investing massive amounts in marketing activities.

Key Development: In February 2022, DuPont, the United States-based chemical company announced an agreement to divest the majority of its mobility and materials segment to Celanese.

Key Players in the Industry:

DuPont
PPG Industries
RedBuilt

Market Segmentation Analysis:

By Type:

Structural
Interior
Exterior
Others

By Application:

Framing
Insulation
Roofing
Interior & Exterior Finishing

By End User:

Residential
Commercial offices & Buildings
Institutions

By Region:

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

Access Report Details for More In-Depth Information:

Author:

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

About Future Market Insights (FMI)

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

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Small Molecule Active Pharmaceutical Ingredient (API) Market Projected to Reach USD 174 Billion by 2033 with a CAGR of 4.1%

The small molecule active pharmaceutical ingredient (API) market is set for steady growth, with an anticipated revenue of USD 116 billion in 2023. The market is projected to expand to USD 174 billion by 2033, reflecting a compound annual growth rate (CAGR) of 4.1% during the forecast period.

The oncology market is growing enormously. High-potency drugs constitute significant new drugs that are under development. Small molecule demand still dominates the API market, however, new biological entity demand is also growing rapidly healthcare expenditure is resulting in new molecule discovery, the evaluation of various molecules for possible disease treatment, and the adoption of an innovative approach to these studies.

As increasing prevalence of chronic disorders like cardiovascular diseases, diabetes, cancer, and infectious diseases, and increasing research on small molecule APIs will boost the market growth. Besides this, government funding for API manufacturing units is also increasing in developing countries like India, Israel, and China. In May 2020, AstraZeneca recovered the global rights to brazikumab from Allergan. Small molecule monoclonal antibody is developed for Crohn’s Disease and Ulcerative Colitis and adds to their growing presence in Immunology

The coronavirus pandemic has changed public medical care needs and spending however this is viewed as a transient effect on the Small Molecule API market. The immense COVID-19 patient pool attracted the spotlight on the treatment of these patients, in turn increasing the demand for small molecule API.

Key Takeaways from Small Molecule API Market Study

As a result of increasing healthcare spending and favorable reimbursement policies, the U.S. accounts for over 87% of the North American small molecule API market
A rising focus on health and wellness will enable the U.K. to exhibit a little below 4% y-o-y growth in 2021
Germany will account for the maximum sales in Europe. Besides this, the demand from France is expected to rise
Increasing investment in research and development within pharmaceuticals will drive sales in China

“The market is highly competitive, compelling the key players to aim at strategic partnerships. Some of the leading players have been focusing on strategic collaborations to expand their footprint and portfolio” says the FMI Analyst

The use of external resources (people, equipment, and/or expertise) to facilitate the preparation of Active Pharmaceutical Ingredients (API) or advanced intermediates has become a common practice for most pharmaceutical development organizations. In early development, the reasons to seek external support for the manufacture of API were attributed to a number of factors, including a lack of sufficient internal capacity, a need to source unique technical expertise, or a desire to achieve overall cost reductions.

For organizations that have no internal GMP manufacturing capabilities whatsoever (e.g. biotech companies), outsourcing is, of course, a necessity. However, companies that have some level of internal manufacturing capacity may have options to use outsourcing to their strategic advantage. This outsourcing capability has increased the source of generating more revenue for new emerging companies. For the fast growth of the industry, they follow outsourcing strategies.

In addition, key players in the Small Molecule API market are keenly focusing on carrying out strategic activities such as advanced technology for manufacturing, and acquisitions, in order to create a strong position in the market is leading to vigorous developments which is helping the market to grow at a considerable rate.

For Instance, In January 2020, Novartis acquired of operations of Aspen in Japan. This acquisition strengthened Sandoz’s position in the world market of off-patent medicines and generic drugs manufacturing.

Key Participant Insights

Various manufacturers are undergoing partnerships, collaborations, acquisitions, and distribution agreements to improve their market footprint.

For Instance, in December 2020, Pfizer Inc. and PostEra announced a strategic partnership to accelerate small molecule drug discovery by developing a platform technology based on generative chemistry.

Also, in January 2020, Merck announced its strategic collaboration for an oncology platform with Taiho Pharmaceutical Co, Ltd. And Taiho Pharmaceutical Co., Ltd to expand its focus on small molecule inhibitors for cancer research.

Key players in the Small Molecule API market are focusing on developing novel drugs due to their demand across various therapeutic areas. Some of the key players are

Hoffmann-La Roche Ltd, Albany Molecular Research Inc., AstraZeneca, Merck & Co., Inc., BASF SE, Teva Pharmaceutical Industries Ltd., Sanofi S.A., Pfizer Inc., Nanjing King-Friend Biochemical Pharmaceutical Co., Ltd., Novartis AG, Bristol-Myers Squibb, Boehringer Ingelheim GmbH, GlaxoSmithKline PLC, GILEAD Science Inc.,

Small Molecule API Market by Category Molecule Type

Standard API
HPAPI

Production

Captive/In-House
Out Source

Application

Clinical
Commercial

Therapeutic Area

Cardiovascular Diseases
Respiratory Disorders
Infectious Diseases
Metabolic Disorders
Oncology
Immunology
Neurology
Urology
Dermatology
Ophthalmology
General Health
Others

A Old Full Report Analysis Click Here

Key Segments Profiled in the Small Molecule API Market Industry Survey

By Molecule Type:

Standard API
HPAPI

By Production:

Captive/In-House
Outsourced

By Application:

Clinical
Commercial

By Therapeutic Area:

Cardiovascular Diseases
Respiratory Disorders
Infectious Diseases
Metabolic Disorders
Oncology
Immunology
Neurology
Urology
Dermatology
Ophthalmology
General Health
Others

By Region:

North America
Latin America
Western Europe
Eastern Europe
South Asia and Pacific
East Asia
Middle East and Africa

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FMI Study States Battery Leasing Service Market Size Predicted to Hit a Valuation of USD 684.3 Million by 2033, Surging at 17.4% CAGR

The global battery leasing service market size is anticipated to cross a valuation of USD 137.6 million in 2023. It is poised to attain a valuation of USD 684.3 million by 2033. The market is expected to exhibit a monumental CAGR of 17.4% from 2023 to 2033.

In recent years, there has been a noticeable rise in the demand for battery rentals for electric vehicles. Several countries’ governments have been compelled to employ green fuel technology in all of the key economic sectors as a result of growing urbanization and rising levels of pollution. The development of any entity commercializing sustainable processes and technology is supported by national governments across the globe.

Government laws favor a rise in the global market for battery leasing for electric vehicles. Favorable subsidies and initiatives are being implemented to hasten the adoption of electric and hybrid vehicles. In the next few years, the market for battery leasing services is anticipated to rise mostly due to the increasing number of electric vehicles being used for both personal and commercial purposes.

The increasing personal disposable income levels across the Asia Pacific region are predicted to flourish in market growth. The rising middle-class populace across countries such as India, China, and other countries of Asia is boosting electric vehicle sales. The expanding automotive industry in the region is predicted to create significant growth opportunities in the market.

The entrance of prominent electric vehicle manufacturing companies, such as Tesla, and others in the Indian market is expected to bolster growth avenues in coming years. This new developing industry of battery leasing services for electric cars has enormous prospects for start-ups and corporate expansions in other Asia Pacific areas. Other countries in the Asia Pacific region are also expanding at a notable rate due to the increasing adoption of electric and hybrid vehicles.

Key Takeaways from Battery Leasing Service Market:

In 2017, the global battery leasing service market size stood at USD 95.7 million.
The market size stood at USD 127.4 million in 2022.
The market progressed at a significant CAGR of 5.9% from 2017 to 2022.
The lithium-ion batteries segment accounted for almost 72% percent of the global market shares.
In 2022, the passenger cars segment captured 61.0% shares in the global market.
In 2022, China occupied nearly 19.7% shares in the global market.
In 2022, India captured 18.8% of market shares globally.
The United States garnered 6.3% market shares in 2022.
Germany captured nearly 6.3% percent of the global market shares in 2022.

Recent Developments Observed by FMI:

Construction of Form Energy’s new manufacturing plant in Weirton, West Virginia, is underway owing to an investment of USD 760 million. The company is developing an iron-air battery that uses reversible corrosion to store energy.
BMW announced plans to invest USD 1.7 billion in its new South Carolina manufacturing plant. The new facility is being built to produce the batteries for electric cars.

Key Players in Industry:

Bounce Infinity
Contemporary Amperex Technology Co., Ltd.
E-Charge Up Solutions Private Limited
NIO NextEV Limited
Numocity Technologies Private Limited
Ocotillo Power Systems
Oyika Pte Ltd.
Renault Group
Sun Mobility Private Limited
VoltUp.
Kia Motors Inc.
Leo Motors Inc.

Battery Leasing Service Market Segmentation:

By Business Model:

Subscription Model
Pay-per-use Model

By Battery Type:

Lithium-ion (Li-ion)
Nickel metal Hybrid

By Vehicle Type:

Passenger Vehicle
Commercial Vehicle

By Region:

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

Access Report Details for More In-Depth Information:

Author:

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

About Future Market Insights (FMI)

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us: