Global Robotic Gripper Market is projected to increase at a CAGR of ~ 10% between the forecast period of 2019 and 2029 : FMI

The global robotic gripper market was valued at ~ US$ 1 Bn in 2018 and is projected to increase at a CAGR of ~ 10% between the forecast period of 2019 and 2029. This growth is significantly driven upsurge in the automotive and electronic & semiconductor industry, introduction of specific gripper portfolio, and rise in the robotic automation in specific regions such as East Asia.

A new market research study by Future Market Insights on the robotic gripper market contains global industry analysis 2014-2018 and opportunity assessment 2019-2029. The report investigates the robotic gripper market and provides critical insights for the forecast period of 2019-2029. As per the findings of the report, the global robotic gripper market is anticipated to experience substantial growth over the forecast period, due to multiple driving factors such as, use of smart materials for enhanced capabilities and growing horizon of applications along with increased number of end-use industries.

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Owing to the rapid growth of factory automation in East Asia and other nations including Singapore, Malaysia, and more, the demand for robotic grippers is expected to grow at an impressive pace. According to the FMI analysis, the onset of Industry 4.0 is further expected to increase the adoption of robotic grippers in smart factories.

Surplus Growing Opportunities in the East Asia Market

Japan being one of the significant countries in robotic automation is expected to show upsurge in the robotic gripper market. South Korea has a high number of robot-10,000 employee ratio, in which China is expected to register a high growth rate in recent years, owing to high labor costs and increased automation. These countries have a major share in the global robotic gripper market, hence East Asia is expected to generate substantial growth opportunities for the robotic gripper market.

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Use of Innovative Smart Materials to Surge the Market Growth

The global robotic gripper market has been segmented based on the different types of grippers, multiple jaw types, their multiple operations, different segments of applications, end use industry and regions such as Americas, EMEA (Europe, Middle East and Africa), SAP (South Asia Pacific) and East Asia.

  • Robotic gripper technology has been incessantly growing in the recent years, consecutively growing the robotic gripper market. Use of smart materials to make more adaptive and flexible grippers is taking place. More advancement is expected to happen in electric and pneumatic grippers which will help the robotic gripper market growth exponentially.
  • With respect to application robotic gripper market is expected to show a large growth in material handling segment as it is prominently used in end use industry. Followed by general assembly segment which is projected to have a fair share in the market growth.
  • Automotive industry is one of the significant drivers of the robotic gripper market followed by electronics and semiconductors industry. Availability of vast gripper range which are application specific in nature enhance the precision and speed requirement in these industries.

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Key Segment

By Product Type

  • 2-Jaw Grippers
  • Angular & 3-Jaw Grippers
  • O-Ring Grippers
  • Niddle Grippers
  • Vacuum Cups
  • Magnetic Grippers
  • Special Purpose Grippers
  • Others (Electrostatic, Bellow, Toggle)

By Application

  • Material Handling
  • General Assembly
  • Inspection & Others

By End Use

  • Automotive & Transportation
  • Electronics & Semiconductors
  • Food & Beverages
  • Chemicals & Pharmaceutical
  • Logistics
  • Healthcare
  • Others

By Region

  • Americas
  • EMEA
  • South Asia & Pacific
  • East Asia

Robotic Gripper Market: Vendor Insights

The report highlights some of the prominent market players, who have established themselves as leaders in the global robotic gripper market. Few examples of key players in the market are

  • Soft Robotics, Inc., Piab AB, Applied Robotics, ABB Limited, Grabit Inc., Yaskawa America Inc., J. Schmalz GmbH, Festo AG & Co. KG, Onrobot, Bastian Solutions, COVAL VACUUM TECHNOLOGY Inc.,

and Brenton Engineering, among others. The global robotic gripper market players are primarily focusing on development of product, such as flexible robotic gripper, electrostatic robotic gripper, and vacuum robotic gripper, that can react more and more similar to human arm and has a wide range of payload capacity for different end use industries in order to gain greater share in the robotic gripper market.

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Sodium Silicate Market will grow gradually at 3% CAGR between 2029

Global sodium silicate market will grow gradually at 3% CAGR between 2019 and 2029. Sodium Silicate products will witness an uptake in sales on the back of eco-friendly properties of the compound. Market players are innovating end-use applications that cater to the need for viable alternatives of conventional adhesives, binders, and cleaning agents.

The sodium silicate market was valued at US$ 5.6 Bn in 2018 owing to versatile end-uses and cost-efficiency. Detergents, adhesive, coating, deflocculates, catalyst, and chemicals are a few of many industrial applications of sodium silicate. The eco-friendly and non-toxic nature of sodium silicate positions it as a favorable alternative amidst increasingly stringent anti-pollution government policies.

Readily available raw materials such as silica sand, soda ash, and rice husk further propel manufacturing of sodium silicate. Supply and demand for the product exhibit cohesive growth trajectory during the forecast period (2019-2029).

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Sodium silicate manufacturers can earn profitable revenues by leveraging opportunities presented by prevalence of environment efficient rubber tires, wastewater treatment, and soil stabilization. Market players are developing products for untapped industries such as welding, agriculture, and food.

Key Takeaway of Sodium Silicate Market Study

  • Sodium Silicate market is valued at US$ 5.6 Bn in 2018 growing at a lackluster CAGR during the forecast period.
  • Asia Pacific (APAC) holds a major market share with more than 53% of the total market value. India, a developing economy in APAC is expected to grow at a promising 5% CAGR from 2019 to 2029.
  • Amid resurgent infrastructure industry and growing demand for green-alternatives, demand from the US will grow at an astounding 12% CAGR through the end of 2029.

Developing economies such as India, Indonesia, and South Korea are investing in infrastructure development. Sodium silicate is an ideal binder for sustainable construction practices. Market players must leverage this opportunity and procure profitable revenues for the forecast period.

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Infrastructure Impels Future Demand Growth

Major manufacturers of sodium silicate are involved in research and development of products, mergers, acquisitions, and expansion of global footprint via strategic stakeholder partnerships. APAC reigns supreme with share-wide dominance, attributable to surge in demand for end-use industry products that employ sodium silicate such as rubber tires, water treatment, and construction. North America offers lucrative growth opportunities where the US exhibits a double digit 12% CAGR during the forecast period.

Recovering infrastructure in the US propels regional growth during the forecast period. European countries such as Germany is driven by increasing demand for compound in pulp & paper, healthcare, and elastomer filler for rubber tires. Emerging economies in Latin America and MEA are following the footsteps of early adopters with infrastructure development and proactive environmental consciousness.

More About the Report

FMI’s study offers an in-depth market forecast and analysis on the global sodium silicate market. Major categories encompassed by the report include application type (detergents, catalyst, pulp & paper, elastomers, food & healthcare, & others), across five regions (Asia Pacific, Europe, Middle East & Africa, Latin America and North America).

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Walk-in Coolers and Freezers Market: Preference for Customized and Smart Machines Growing : FMI

Future Market Insights (FMI), in its new report, estimates worldwide sales of walk-in coolers and freezers at US$ 8.6 billion in 2019. Widespread consumer acceptance of frozen and processed food, along with a steep rise in the demand for efficient refrigeration facilities to store and maintain the shelf life of these products, allude a brighter future for the walk-in coolers and freezers market.

Digitalization and smart technologies continue to influence numerous product developments and demand-side dynamics, and walk-in coolers and freezers are no exception. As consumers show marked preference for efficient yet custom-sized units, manufacturers are leveraging technological advancements to develop unique product features that fulfil specific customer requirements.

“Walk-in coolers and freezers are witnessing transformations under the influences of smart technologies and digitalization, and consumer preference for customized yet efficient equipment has led manufacturers to emphasize application-specific features in new product development”.

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According to the study, key players in the walk-in coolers and freezers market also remained focused on improving energy efficiency of their products, considering the continuous changes in energy conservation standards for various commercial and industrial equipment including walk-in coolers and freezers. These players are continuously putting efforts on improving quality of their offerings, while investing in innovative developments that would yield substantial improvements for customers.

Gains Remain High from Commercial Kitchens & Restaurants

Walk-in coolers and freezers continue to gain high traction from commercial kitchens and restaurants, which are widely used to preserve raw foods and grocery items. As international fast food chains and café outlets continue to explore opportunities in various attractive destinations, demand of walk-in coolers and freezers has been on an upward swing across the globe.

North America and Europe have been the early adopters of commercial kitchens and restaurants; however, they are reaching their saturation point. Walk-in cooler and freezer manufacturers are tapping into opportunities in developing countries in East Asia, where multi-cultural environment, changing eating habits, and rising disposable income have opened avenues of growth for commercial kitchens and restaurants. Moreover, walk-in coolers and freezers market in East Asia is likely to take over the Europe market in the future.

According to the study, newer trends and rapid expansion of retail food & beverage sector also represent a significant source of demand for walk-in coolers and freezers. Picture-perfect stores are gaining high preference among today’s consumers, especially millennials obsessed with social media platforms. Such factor has forced the manufacturers to innovate and enhance the visual appearance of their products without compromising on the operational functions.

Walk-in coolers and freezers with self-contained refrigeration continue to account for higher share as compared to remote condensing and multiplex condensing. Considering the suitability of self-contained refrigeration in almost any application along with ease of service and maintenance, this category also continues to witness higher innovation and investments.

According to the study, the walk-in coolers and freezers market shows a high level of fragmentation, and therefore, several market players are focusing on forging strategic alliance with other players to improve their market shares. Manufacturers are also focused on offering products that can be custom designed to fit any settings along with several add-on features to increase convenience and ease-of-use.

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FMI’s research study also offers a long-term perspective and thorough analysis on opportunities present in the walk-in coolers and freezers market for the period between 2019 and 2029. As per the study, the global walk-in coolers and freezers market is projected to register a CAGR of 5.6% during the forecast period.

Walk-in Coolers and Freezers Market Key Segment

Product Type

  • Walk-in Cooler
  • Walk-in Freezer
  • Combo (Freezer + Cooler)

Place of Use

  • Indoor
  • Outdoor

Technology

  • Self-Contained
  • Remote Condensing
  • Multiplex Condensing

Door Type

  • Hinged
  • Power Sliding
  • Manual Sliding

Application

  • Cold Storage Warehouse
  • Breweries
  • Commercial Kitchen & Restaurants
  • Floral Storage
  • Pharmaceuticals
  • Chemicals
  • Research laboratories
  • Hospitals & Mortuaries
  • Mobile Refrigeration System
  • Retail Food & Beverage
    • Supermarket
    • Hypermarket
    • Convenience Stores
  • Other Stores

Sales Channel

  • OEM
  • Aftermarket

Mounting Type

  • Floor
  • Non-floor

Region

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

About Industrial Automation Division at Future Market Insights

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

Woodworking Router Bits Market Value to US$ 150 Mn and estimated to exhibit a CAGR of close to 5% 2019-2029.

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

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According to a new research report published by Future Market Insights (FMI), the global  woodworking router bits market  is estimated to exhibit a CAGR of close to 5% during the forecast period of 2019-2029.

Key Takeaways of Woodworking Router Bits Market Study

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

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

Woodworking Router Bits Market: Competitive Landscape

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

Asia Pacific Offering Lucrative Opportunities for Market Growth

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

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More about the Report…

The research report provides thorough assessment and future forecasts of the woodworking router bits market on the basis of three primary segments listed as follows: operation, shank size, and tool type. The report provides comprehensive information about global market size, key market manufacturers, and regional perspective for the market. The report also provides important dynamics of the woodworking router bits market. Scope of the research includes handheld woodworking router bits with carbide.

Heat Pumps Market to Hit US$ 50 Bn Mark by 2030 and is estimated to expand at a CAGR of 5% : FMI

According to FMI’s recent study, the global heat pumps market was valued at around US$ 32 Bn in 2019 and is estimated to expand at a CAGR of 5% over the forecast period of 2020-2030, with a limited impact of the current pandemic situation on long-term growth forecasts. Increasing demand for tech-advanced cooling solutions with low carbon footprint, government initiatives to curb greenhouse gas emissions, and advancements in heating, ventilation, and air conditioning (HVAC) systems are factors contributing to the revenue pool of the global heat pumps market.

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

As the world attempts to fight the COVID-19 pandemic, it has led to delayed production across several heat pump production facilities in major coronavirus hit countries such as the US, China, and Germany, This is expected to dampen heat pump sales by around US$ 1 Bn in 2020. Moreover, the COVID-19 pandemic will significantly impact consumer behavior in the short term, with domestic shipments from China for air source heat pumps (ASHPs) registering drop of over one-third in January 2020.

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

Key Takeaways from Heat Pumps Market Study

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

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

HEAT PUMPS MARKET TAXONOMY

The global heat pumps market is segmented into six segments in detail to cover every aspect of the market and present complete market intelligence to the readers.

Type

  • Air-water Heat Pumps
  • Air-air Heat Pumps
  • Ground Source Heat Pumps
  • Hybrid Heat Pumps

Power Source

  • Electric
  • Others (Gas Driven)

End User

  • Residential
  • Commercial
  • Industrial

Refrigerants

  • HFC
  • CO2
  • Ammonia
  • Hydrocarbon
  • Others

System Type

  • Air-source Heat Pumps
  • Ductless Mini-split Heat Pumps
  • Geothermal Heat Pumps
  • Absorption Heat Pumps

Region

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

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Heat Pumps Market: Competitive Landscape

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

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

Customer Experience Platforms Market 2022 Outlook, Current and Future Industry Landscape Analysis 2028

The customer experience platforms market revenue totaled ~US$ 7,753.9 Mn in 2021, according to Future Market Insights (FMI). The overall customer experience platforms market is projected to reach ~US$ 18,972.7 Mn by 2028, growing at a CAGR of 13.9% for 2022 – 28.

The customer experience platforms market growth will continue to accelerate due to the rising need for improving interactions between businesses and customers.

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The growth of this market is driven by factors such as rapid integration of multichannel touchpoints, increasing need for planning customer engagement strategy, growing adoption of customer experience management to improve customer engagement and reduce customer churn rates and increasing need to analyze customer data to increase business revenue.Customer experience platforms market is nearly 30% of global customer relationship management market.

customer experience platforms

Key Research Findings At A Glance

  • Robust yearly revenue growth of around 12% estimated for mobile apps as the highly attractive interaction point is primarily driven by exceptional penetration of smartphone technology. Around 1/4th share of the current market revenue is contributed by mobile applications.
  • Cloud as a deployment model is winning a heavy incremental opportunity translating further into a larger share of more than 55% over on premise segment in the customer experience platforms landscape.
  • Consumer goods and retail sector, currently holding around 1/4th share of the total market revenue, is observing a hefty incremental opportunity. Hospitality is also rapidly emerging attractive end use vertical for CX platform vendors owing to the considerable yearly growth anticipated post 2020.
  • Large enterprises continues to reign supreme over small and medium sized enterprises in terms of deployment of customer experience platforms. Maximum business opportunity resides in the Android segment.

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FMI Recognizes Significant Growth Potential in Developing Regional Markets for Customer Experience Platforms

North America continues to lead the pack globally in customer experience platforms landscape, whereas substantial growth opportunities lie in the South Eastern Asia and rest of Asia Pacific region.

A collective revenue share of over 28% from the eastern and western parts of Europe represent the significant position of European region in customer experience platforms ecology.

While customer centric approach of CX platform vendors is identified to be the key driver for North America’s market, ever-growing digitization is pushing the scenario in Asia Pacific, wherein spectacular growth opportunities are spotted in India and ASEAN countries.

A majority of key market players have strong presence across developing economies in Japan and MEA.

Maintaining the Customer Centric Approach Helps CX Platform Vendors Deliver Customer Satisfaction at An Improved Level

Vendors of customer experience platforms are focusing more on end user requirements, in addition to ever-evolving business requirements.

Fostering adoption of IoT and connected technologies is fueling adoption of customer experience platforms based on end user perceptions.

Centralization of customer data that has been collected from the various points of interaction is enabling vendors to develop a personalized approach to delivering top notch customer experience.

CX Platform Vendors to Tap into the White Spaces in Predictive Analytics Integration

Future Market Insights report on customer experience platforms landscape reveals that the vendors are leveraging the opportunities residing in the integration of predictive analytics into their existing CX platform offerings.

“It’s all about delivering a more advanced version of current customer experience platforms along with improved applications and functional capabilities as added advantages to customers,” says the FMI analyst, while adding further, “It will even help vendors conduct the comparative analyses of past and current CX data and further generate an accurate predictive data about customer experience trends, customer behavior, and the actual purchasing decision”.

With more than 40% share of the current market revenue, Tier 1 players are reportedly delivering best-in-industry offerings in wider portfolios, imparting significant regional coverage. Tier 2 companies on the other side include some of the highly important companies that hold the potential to transit to the Tier 1 category. Although Tier 3 players are relatively new entrants and hold limited presence at a global level, they reflect growth at a rapid pace.

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Key Questions Answered in the Report

  • Which region is expected to showcase high growth in Customer experience platforms demand?

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Consumer Appliances Market and offers actionable insights on its growth prospects for the period 2019 and 202

Future Market Insights (FMI), in its new study, analyzes the consumer appliances market and offers actionable insights on its growth prospects for the period 2019 and 2029. According to the study, worldwide sales of consumer appliances reached 1.27 billion units in 2018, and are estimated to register a Y-o-Y growth of 3.7% in 2019. The study opines that the impact of smart technologies is being witnessed in the market, with many players launching connected and smart devices to meet consumer expectations.

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Rapid digitalization and strong knowledge regarding use and efficiency of modern appliances have been largely contributing to the market growth. Steady economic growth in several countries and rising need for comfort are influencing consumers to upgrade their existing appliances to smarter variants. In addition to providing convenience, reducing manual efforts, and saving time, manufacturers are focusing heavily on product innovations to satisfy the evolving needs of their customers.

Technology is surely bringing a paradigm shift in consumer appliances industry, and FMI’s study analyzes that stakeholders are helping consumers achieve their energy conservation goals through green technologies and sustainable-centric innovations. Impressive developments in smart connectivity area are also set to gain momentum in the coming years, representing a substantial competitive advantage for the market players.

White Goods Capture Robust Share over Brown Goods

According to the study, white goods such as refrigerators, washing machines, and air conditioners have garnered relatively high traction as compared to brown goods. In recent times, these products have become standard in almost every household, backed by availability at affordable prices. Additionally, provision of smart connection in white goods, along with fast urbanization and rural electrification, especially in developing economies, remained instrumental in accelerating the overall sales of consumer appliances. Far from being confined to bigger appliances, manufacturers are also working on incorporating robotic technologies in small appliances to provide user-friendly interface and enable ease of operations.

As smart homes become a reality all over the world, the FMI study opines that demand for consumer appliances from households or domestic segment will continue to grow at a significant pace. Introduction of technologically advanced models which can be connected to smartphones and controlled remotely along with rise in per capita income is likely to remain a key to gaining distinct competitive edge.

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Key Segment

By Product Type

  • Kitchen Appliances
    • Refrigerators
    • Ranges and Ovens
    • Microwave
    • Conventional Grill
    • Dishwashers
    • Chimneys
    • Electric Stove
    • Induction Cooktops
  • Small Appliances
    • Hair Dryers
    • Irons
    • Toasters
    • Bread Makers
    • Coffee Machines
    • Grinders & Mixers
    • Food Processors
  • Washing Machine
  • Air Purifiers
  • Water Heaters
  • Water Purifiers
  • Cloth Dryers/Tumbler
  • Air Conditioners
  • Vacuum Cleaners

By End Use

  • Domestic
  • Professional
    • Hotels
    • Salon & Grooming Parlors
    • Cafeteria & Restaurants
    • Offices & Institute
    • Others

By Sales Channel

  • Offline
    • Organized Retailer
    • Unorganized
  • Offline
    • Company Direct Sales
    • Independent Vendor/E Commerce

By Region

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

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Opportunities galore for consumer appliances market stakeholders, as identified by FMI study with growing working population and rapid infrastructural development, resulting into increasing number of hotels, salon & grooming parlors, and quick service restaurants (QSRs).

According to the study, growth prospects of the consumer appliances market are high in Europe, owing to strong presence of reputed brands which continuously focus on fulfilling consumers need for appliances that can perform maximum tasks with minimal resources. Newer opportunities are expected in Asia Pacific stemming from a number of trends such as increased purchasing power, growing middle class population, advances in digital transformation, and favorable government policies that encourage the use of energy-saving appliances.

As the importance of internet increases and e-commerce sites see an upsurge, stakeholders are implementing omni-channel marketing strategy to reach wide range of customers across the globe. According to the study, sales of consumer appliances through online sales are likely to register a CAGR of 4% during the forecast period.

FMI’s business intelligence offers an incisive outlook on competitive scenario of consumer appliances market by discussing key strategies adopted by the players. The market shows a high level of fragmentation, with a large number of regional and local players restricting the geographical expansion of international companies. Prominent players are thus focusing on strategic collaborations and joint ventures for increased production capacities and enhanced customer base.

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Refinery Catalyst Market value of more than US$12 Bn by the end of 2030

The global refinery catalyst market is projected to grow at a CAGR of 4.2% over the forecast period 2020-2030. The market is expected to show sustainable growth and reach market value of more than US$12 Bn by the end of 2030.

Increasing use of transportation fuel is likely to have a direct impact on the demand for refinery catalyst, according to a recent report published by Future Market Insights (FMI).

Catalytic processes are imperative for the production of transportation fuels such as gasoline, diesel, jet fuel and others from petroleum. Evolving composition of transportation fuel composition requirements to match the environmental regulations and changes in engine design are expected to drive the refinery catalyst market.

Environmental regulations are getting stricter across the world. Considering this, with the need for cleaner emission growing stronger, companies are looking for newer ways to reduce their harmful emissions.

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In order to adhere to these stringent rules, the use of cleaner emission fuels is encouraged. This has led to high use of low Sulphur fuels as these cause less damage to the environment. Refinery catalysts play a major role as they are critical in reducing Sulphur from fuels. Owing to these applications, global refinery catalyst market is expected to experience a surge in demand.

Furthermore, the increasing uses of different catalysts such as Fluidised Catalytic Cracking (FCC) and Hydroprocessing technologies are poised to boost the market growth. The report offers exclusive insights into the market. Some of the key takeaways are highlighted below:

Key Takeaways

  • Asia Pacific is expected to emerge as the most lucrative market for refinery catalysts during the forecast period
  • North America and Europe are likely to exhibit witness substantial growth during forecast period 2020-2030
  • FCC is projected to emerge as the most lucrative product type, however, the hydrotreating segment expected to witness highest growth during the forecast period
  • Zeolites likely to remain the highest used ingredient segment
  • Rising use of transportation fuel to boost growth of global refinery market.

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“Regulations encouraging the use of cleaner emission fuels are expected to get more stringent in the near future as concerns over environmental safety is taking precedence globally. Hence the role of refinery catalysts in lowering the Sulphur levels of fuels is expected to gain more prominence, providing huge market potential for manufacturing companies in the industry” said an analyst at FMI.

COVID-19 Impact on Refinery Catalyst Market

COVID-19 pandemic is impacting the global economy since its advent. Refining catalyst market is affected by the impact pandemic had on the petrochemical industries across the world. The pandemic has affected all aspects of business.

With restricted productions and lack of labor due to the social distancing norms, the manufacturing companies are still recovering from the impact. This negative impact is expected to lead to a drop in demand of refinery catalysts in 2020.

As transportation was restricted across worst hit countries for a significant time during the year, the demand took a huge dip. Decelerating growth was recorded as crude oil prices went to an all-time low with negative pricing for the first time.

Additionally, with end-use industries affected in the regions such as Asia Pacific, North America and Europe, a significant drop in year on year growth rate is expected. Although the market has suffered losses, it is expected to pick itself up by the beginning of 2021.

Who is Winning?

Global refinery catalyst market encompasses established players who operate internationally as well as regional players. This has resulted in a highly competitive market. The key strategies adopted by players include strengthening supplier base and improving distributor networks.

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Furthermore, product innovations is a key strategy employed by large players to sustain in the market and gain advantage over competitors.  For instance, key player in the global refinery catalyst market, BASF has announced launch of a new fluid catalytic cracking (FCC) catalyst product for gasoil feedstock. It is based on the multiple framework technology (MFT) by BASF.

This new product has confirmed its ability to deliver better economic performance during trials. This is achieved through butylene selectivity, high conversion and coke selective bottoms upgrading in order to increase refiner’s profitability.

Some of the key players in the global refinery catalyst market are Exxon Mobil, Albemarle Corporation, W.R. Grace and Co., Honeywell International Inc., Clariant AG, BASF SE, Axens SA, Haldor Topsoe A/S.

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End Suction Pump Market to expand at over 4.6% CAGR from 2021 to 2031: FMI

According to Future Market Insights (FMI), sales in the global end suction pumps market will be valued at over US$3.8 Bn in 2021, with a stable long-term projection. The report also estimates the market to expand at over 4.6% CAGR from 2021 to 2031.

[261 Pages Report] Global end suction pump market to register year-on-year (YoY) growth of 3.5% in 2021 to total 4.3 million units. As per the end suction pumps’ industry analysis, demand for close coupled pump will grow by 3.6% to total 3.6 million units by the end of 2021.

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Steered by surging application in commercial and industrial sectors alike, the sales of end suction pumps will represent 3% of global pumps market in 2021.

According to Future Market Insights (FMI), ongoing development and adoption of new technologies in the industrial sector is a key factor behind the surging demand for the end suction pumps in industries such as chemicals, petrochemicals, processed food & beverage, and others.

Rising expenditure towards infrastructural expansion, covering construction expenses hospitality and institutional sectors, has boosted the demand for end suction pumps for commercial applications. The future growth of end suction pumps’ market is expected to ride on the back of centrifugal pumps’ market growth.

Because of the global pandemic, demand for end suction pumps declined marginally in 2020. The effect of COVID-19 on demand from heavy end-use industries like power generation and mining was lower, which drove end suction pump sales in various regions.

The demand for end suction pumps has been increasing in the manufacturing sector. This can be attributed to the advancements registered in the manufacturing sector, especially in various developing regions.

Increasing energy costs and growing environmental awareness among end users are expected to drive demand for energy-efficient and cost-effective end suction pumps over the forecast period. Industries often rely on end suction pumps to improve pump efficiency and reduce energy consumption.

Key Takeaways from End Suction Pumps Market Study

  • Close coupled pump segment is projected to hold over 80% volume share in the global market in 2021.
  • The demand from the industrial sector will account for 75% of the overall sales in the market.
  • East Asia will remain a primary market, backed by expansion of industries and growing urbanization in the region. It is expected to account for over 25% of the demand registered globally in 2021.
  • Up-to 100 GPM and suction pumps’ sales will surge at a CAGR of approximately 4.6% over the coming decade.
  • Sales of end suction pumps in the U.S. will total US$992.4 Mn by 2031.

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“Higher focus on expansion of manufacturing will boost end suction pumps sales in the coming years. Focus on turnkey projects by OEMs is expected to create an attractive opportunity for the growth of the market,” says a Future Market Insights analyst.

End Suction Pumps Market by Category

By Type:

  • Close Coupled Pump
  • Separately Coupled Pump

By Flow Rate:

  • Upto 100 GPM
  • 100 to 300 GPM
  • 300 to 500 GPM
  • 500 to 1,300 GPM
  • 1,500 to 5,000 GPM
  • Above 5,000 GPM

By Application:

  • Commercial
    • Hotels
    • Swimming Pool
    • Retail Space
    • Office & Institution
  • Industrial
    • Food & Beverages
    • Chemicals
    • Mining & Metals
    • Power Generation
    • General Manufacturing

By Region:

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

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Competition Landscape

The end suction pumps’ market is highly fragmented, with over 100 players across the world. The top companies account for around 15-20% of the market share. In order to achieve high sales, leading market players are creating contracts with end users and customizing solution to cater to industry specific requirements.

Some of the key players in this industry include but are not limited to Grundfos, Sulzer Ltd, Xylem Inc., KSB AG, Flowserve Corporation, Ebara Corporation, Kubota Corporation, Ruhrpumpen Group, Pentair plc, Kirloskar Brothers Ltd, Torishima Pump Mfg. Co., Ltd., and WILO SE.

Land Survey Equipment Market Analysis and Review by Application – Inspection, Monitoring, Volumetric Calculation, and Layout Point for 2021 – 2031

The global land survey equipment market  is estimated to increase at a CAGR of over 6% through the next decade. A new research report by Future Market Insights (FMI) on the land survey equipment market thoroughly analyzes the land survey equipment market and also states few key insights for the forecast period of 2021-2031.

Technological advances and the consequently improving precision levels of land survey equipment continue to significantly uphold the market growth. In addition, incorporation of enhanced safety features into newly innovated models of land survey equipment are likely to particularly benefit sales in the near future.

On the basis of product-wise analysis of the land survey equipment market, GNSS systems, total stations, and UAV are the equipment, hold substantial value shares in global market. By the end of 2029, a similar trend is expected to prevail in the market with prominent applications for aforementioned products in diverse end-use sectors.

While a majority of demand for land survey equipment is accounted by the flourishing building and construction industry, the report opines that the contribution from the oil & gas as well as mining industries is highly likely to witness a steep rise in the course of coming years. The study also highlights that agricultural land surveys will remain an important contributor to the global demand for land survey equipment, particularly across developing regions.

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Flourishing Growth Prospects in Asian Markets

FMI’s market analysis based on industry verticals reveals that the construction industry will account for a leading share in terms of demand for land survey equipment, at a global level. The mining industry is expected to hold a trivial share in the market in countries, such as Russia, China, and Australia, which register a sizable share in global mining production. Also, the oil & gas industry will see an upsurge in East Asia, and downstream production in the Middle Eastern region.

While East Asia is expected to account for a decent share, it also has also been listed as a region with prominent prospects for the future growth of the market. Heavy upstream oil and gas production and increased mining exploration in the region are expected to provide a robust sales perspective for the market.

The South Asia region is likely to have substantial growth on the back of heavy construction commencements in the market of India and Malaysia. The growth in aforementioned countries will be in the public as well as private construction segments.

Land Survey Equipment Market: Vendor Insights

Key market players operating in the global land survey equipment market are Trimble Inc, Topcon Positioning Group, Robert Bosch, Hexagon, South Surveying & Mapping Instrument Co., Ltd., Stonex Srl, Nikon, Shanghai Huace Navigation Technology Ltd., Survey Copter, PASI Srl, Geotrax International Products, KSA Land Surveyors Company, Dahle, and several others.

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About Industrial Automation Division at Future Market Insights

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

LAND SURVEY EQUIPMENT MARKET TAXONOMY

Product Type

  • GNSS
  • Theodolite
  • Level Equipment
    • Total Station
  • Laser Scanning
  • UAV
  • GIS Asset Collection
  • Data Collectors

By Application

  • Inspection
  • Monitoring
  • Volumetric Calculation
  • Layout Points

End Use

  • Oil & Gas
  • Construction
    • By Government
    • By Non-Government
  • Mining
  • Agriculture

Region

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

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About Future Market Insights (FMI)

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