Consumer Electronics Market to expand at a CAGR of 5.6% through 2031

Global consumer electronics shipments are set to surpass 12 billion units in 2021, as success with COVID-19 vaccination and gradual reopening raise consumer confidence. Sales will be supported by relatively less precarious COVID-19 scenario in Asia Pacific, home to some of the fastest growing consumer electronics markets in the world. In the updated edition of the study, Future Market Insights analyses consumer electronics sales in 20+ high-growth markets, offering a comprehensive analysis on future growth.

The study reveals that covid-fatigue and launch of new models by consumer electronics companies will induce momentum in consumer electronics market in 2021. Many manufacturers had put off launching new models considering lockdown and low consumer confidence, however, 2021 is being looked at with tempered optimism.

Key Takeaways

  • Recovery expected for smart phones, smart TVs, printers in 2021
  • Sales through multi-brand stores to be lucrative
  • Germany’s consumer electronics market will be lucrative in Europe
  • US held 80% of North America share, sales in Canada growing modestly
  • China and India hotspots for global consumer electronics manufacturers

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Consumer electronics manufacturers will be looking at capturing higher market share in East Asia and South Asia. The markets in these regions, especially in China, India, Indonesia, Malaysia, and Thailand continues to be flooded with low-cost or mid-range consumer electronics.

Manufacturers from US, Western Europe, Japan, and South Korea are facing stiff competition in these markets due to the influx of low-cost Chinese products. However, owing to COVID-19 outbreak and China’s rise as a global heavyweight, geo-political situation can have an influence on Chinese imports.

 “Market players are keeping a close tab on evolving consumer sentiment, as many consumers are in fatigue mode due to COVID-19. The way brands communicate differently may be visible in their advertising strategies” says an FMI analyst.

Who is winning?

The key players in the global consumer electronics market are aggressively investing to encourage and promote product development with an aim to gain a competitive advantage over other players operating in the market. For instance,

  • Samsung Electronics Co. Ltd. Launched its newest galaxy smartphones in January, 2021, while its new flagship Galaxy S smartphones are targeted for remote workers and gamers
  • Hitachi Ltd. Has announced in its new report published on 4th February, 2021, that Hitachi ABB Power Grids will provide energy storage solution for Singapore’s first virtual power plant in order to enhance both of their production capacity

Segmentation

The Consumer Electronics market is segmented into application, form, end use industry, source and geography.

Product

  • Consumer Electronic Devices
    • Digital Camcorder/DVR and Camera
    • Smart Phones/Feature Phones & Tablets
    • Smart TV
    • Printers/ Set Top Box
    • Personal Computers & Gaming Consoles
  • Wearable Devices
    • Smart Accessories
    • Other Wearable Devices
  • Smart Home Devices
    • Securities & HVAC Systems
    • Smart Kitchen Appliances

Sales Channel

  • Hypermarkets/Supermarkets
  • Specialty Stores
  • Multi-brand Stores
  • Online Retailers
  • Wholesalers & Distributors
  • Other Sales Channel

Regional Segments Analyzed Include

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

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Reasons to Buy the report

  • We provide authentic and detailed analysis on various market trends to enable businesses to make informed and beneficial decisions to attain competitive edge over key players.
  • Our analysts provide detailed market segmentation along with meaningful insights and extensive reports that other companies fail to include.
  • The report includes accurate analysis of the market and the current developing trends affecting the growth. FMI speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, industry experts.This ensures that the data collected is from highly reliable sources.

Managed File Transfer (MFT) Market is anticipated to grow from a valuation of US$1.6 Bn in 2020 to US$ to over US$4.5 Bn by 2031

According to a study by Future Market Insights (FMI), the managed file transfer (MFT) market will surpass US$ 1.7 Bn in 2021 on the Back of increasing adoption in BFSI and IT & Telecom industries.

Rising adoption of cloud solution to securely transfer and share various types of data is expected to propel demand for managed file transfer over the coming years. The market is projected to witness significant growth due to factors such as growing need for reliable and cost-effective managed file transfer solutions, rise in digitizing the workspace, increasing demand for high-performance managed file transfer solutions, and rising availability of cost-effective managed file transfer software along with technological advancements.

The global managed file transfer (MFT) market is anticipated to grow from a valuation of US$1.6 Bn in 2020 to US$ to over US$4.5 Bn by 2031. In the past few years, managed file transfer have gained an enormous interest across the globe due to development of cloud based managed file transfer solutions.

The BFSI sector, telecommunication, and other industries have been exhibiting high demand for managed file transfer software and services for managing regular workflow. This is expected to contribute to revenue generation in the market over the forecast period. The market is projected to grow at a healthy CAGR of around 10.0% through 2031.

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Impact of COVID-19 on Managed File Transfer Market:

The COVID-19 pandemic outbreak has disrupted many industries, including the managed file transfer market. Many private, as well as government organizations, have transitioned to remote working, due to which there is a sudden surge in demand for managed file transfer solutions.

managed file transfer mft market for key regions and industry type mekko chart, 2021

Market Segmentation by Category:

Some of the leading companies offering managed file transfer are Axway Inc., GlobalSCAPE, Inc., IBM Corporation, Micro Focus, Software AG, Oracle Corporation, Wipro Limited, CA Technologies Inc., Clearswift, Signiant Inc., OpenText Corporation, Coviant Software Corporation, Primeur, and others.

Solution

  • Software

System-centric File Transfer

People-centric File Transfer

Extreme File Transfer

  • Services

Implementation & Integration

Consulting

Support & Maintenance

 Industry

  • BFSI
  • Media & Entertainment
  • Retail
  • Manufacturing
  • Telecommunication
  • Others

 Region

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

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Key Questions Answered in Report

  • What are the factors fuelling demand for managed file transfer solutions?

The rising demand for incorporation of artificial intelligence, cloud computing, business intelligence, and Managed File Transfer as-a-Service (MFTaaS) across organizations to streamline their operations will fuel the demand in managed file transfer market.

  • What are the major challenges for managed file transfer solution providers?

Unsecure data access, high competition, lack of skilled resources to monitor the data transfer, along with infrastructural security issues, are challenges which might slow down the growth of the market.

  • What are the major trends impacting the sales of managed file transfer solution?

Partnerships between managed file transfer vendors, and increasing demand from banking sector are surging the sales of managed file transfer solutions

  • Which are some of the leading companies offering managed file transfer solution?

Some of the leading companies offering managed file transfer are Axway Inc., GlobalSCAPE, Inc., IBM Corporation, Micro Focus, Software AG, Oracle Corporation, Wipro Limited, CA Technologies Inc., Clearswift, Signiant Inc., OpenText Corporation, Coviant Software Corporation, Primeur, and others.

  • Which region is expected to be at forefront of managed file transfer market?

Managed file transfer market are likely to witness high demand in South Asia & Pacific due to increasing application in countries such as India, Indonesia, Australia, and others.

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Key Takeaways from Market Study:

  • Rising demand for seamless file transfer between or within organizations will enable growth in managed file transfer market at 10% CAGR between 2021 and 2031
  • The market in the U.S. is projected to expand at a CAGR of 8.2% through 2031, emerging dominant in North America
  • Germany will emerge as a key market for MFT, accounting for over one-fourth of demand registered in Europe
  • China and Japan will emerge as key markets within East Asia. While China is expected to account for higher share, Japan will exhibit growth at a higher pace
  • Rapid digitization will enable double-digit growth in India, pushing the expansion of the market in South Asia​

“Key players are focusing on development and implementation of new solutions such as cloud computing technology and Managed File Transfer as-a-Service (MFTaaS) to offer secure file transfer features in businesses and across organizations,” says a Future Market Insights (FMI) analyst.

High Voltage Direct Current (HVDC) Transmission System Market to register an 8.8% CAGR during the projected period 2016-2026

According to Future Market Insights’ report titled “High Voltage Direct Current (HVDC) Transmission System Market: Global Industry Analysis and Opportunity Assessment 2016-2026,” the global market for high voltage direct current transmission systems, which is now valued at US$ 6,191.8 Mn, is likely to reach US$ 14.36 Bn in market value by the end of 2026 – attaining expansion at a CAGR of 8.8%. According to the report, North America, Western Europe and Asia Pacific excluding Japan (APEJ) are the leading markets for HVDC transmission systems globally. Key market players include ABB Ltd., TransGrid Solutions Inc., Siemens AG, Prysmian SpA, Toshiba Corporation, General Electric Co., Hitachi Ltd., Abengoa SA, and ATCO Electric Ltd.

Key Research Findings from Future Market Insights‘ Report on the Global HVDC Transmission System Market

  • Power Outages Continue to Fuel Demand

HVDC transmission is expected to become more efficient due to rampant popularity of advanced valve components such as insulated gate bipolar transistors (IGBT). Several such components that avert transmission failures can be categorised under the solution-based components. By 2026, global revenue share of such components is forecast to be about 60%, while revenues from sales of service-based HVDC transmission components will incur rapid growth at a 10.5% CAGR.

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  • Deployment Cost Benefits vs. High Installation Costs

According to a comprehensive cost analysis in the research report, high installation costs are a major drawback for adoption of high-voltage direct current over other electric transmission systems. HVDC transmission components are expensive and need to be replaced if damaged. With respect to deployment of HVDC transmission systems, subsea deployment is expected to gain adoption due to its comparatively lower installation cost and a rise in demand for offshore power distribution. By 2026, the 33% market value share attributed by overhead deployment model is likely to marginally surpass subsea deployment’s share by 5 percent or less.

Preview Analysis on Global High Voltage Direct Current (HVDC) Transmission System Market Segmentation By System Component – Solutions (AC & DC Harmonic Filters, Converters, DC Lines, Circuit Breakers and Others), Services; By Technology – LCC, VSC and Others; By Deployment – Overhead, Underground, Subsea and Combination; By Power Rating – Below 1000 Mws, 1001 To 2000 Mws and 2001 Mws & Above: http://www.futuremarketinsights.com/reports/high-voltage-direct-current-hvdc-transmission-systems-market

  • “Clean“ Power Proliferation and Growth in Demand for Higher Power Ratings

Manufacturers of HVDC systems incur a competitive edge in the power supply industry as these systems provide efficient transmission with optimal electricity consumption. To extend the environmental impact of HVDC transmission systems, manufacturers are adopting renewable or “clean” energy for transmission and reducing pollution arising from unwanted electromagnetic energy emanating from electrical lines.

In the power distribution industrial sector, managing the impact of energy transmission on the environment is now being considered with an utmost regard. A recent update on companies and governments undertaking steadfast measures on clean energy includes the approval of the US Department of Justice for the installation of a 3GW HVDC transmission system for the country’s TransWest Express Transmission Project. A power ratings analysis included in the report indicates that power distribution above 2,000 MWs will witness a rise in market value share, accounting for nearly 40% of the global HVDC transmission system market value by the end of 2026. Owing to such power consumption trends, companies such as General Electric Co. and ABB Ltd. among others, have included Ultra high-voltage direct current (HVDC) transmission systems as part of their original offerings.

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  • Advanced Technologies Demanding Skilled Workforce

Lack of proficient engineers to effectively operate as well as maintain HVDC transmission systems remains a longstanding challenge. Prominence of line-commutated converter (LCC) and voltage-source converter (VSC) technologies further necessitates the need for highly-qualified engineers. Comparatively, by the end of 2026, VSCs will be the dominant technology in the global market, accounting for nearly US$ 9 Bn in revenues.

More From FMI‘s Cutting-edge Intelligence:

  • Enterprise A2P SMS Market Segmentation By Traffic – National, Multi-Country; By Tool – Cloud API Messaging, Traditional And Managed Messaging; By Applications – Pushed Content Services, Interactive Services, Promotional Campaigns, Customer Relationship Management (CRM); By Verticals – Financial Institutions And Banking, Gaming, Travel And Transport, Health And Hospitality, Retail: http://www.futuremarketinsights.com/reports/enterprise-application-to-person-sms-market

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Transformer Monitoring System Market 2022 | Current and Future Demand, Analysis, Growth and Forecast By 2031

The transformer monitoring system market exhibited year-on-year growth of 10.9% in 2021, backed by increasing adoption of green transformers leading to up-gradation of associated monitoring system and growing emphasis on improving reliability of power grid. FMI states that, transformer monitoring system market revenue grew by 8.5% between 2016 and 2020. It is predicted that sales revenue will reach US$ 2 billion in 2021 with an astronomical CAGR of 10.1%.

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Green transformers are gaining popularity due to its low carbon footprint and high efficiency and reliability. To monitor these new transformers retrofit installations are required. Increasing renewable energy penetration and rising sales of green transformers will accelerate the demand for retrofit transformer monitoring system in upcoming years.

According to International Energy Agency, global electricity consumption reached 22,848 TWh in 2019. China, India, Russia, and Brazil account for more than 39% of global consumption. Rise in electricity consumption in developing countries will boost the market sales over the forecast period.

Top manufacturers are striving to reduce the installation cost of the monitoring system and make them more reliable and accurate. However, unpredictability in terms of regulatory policies and strained supply chain system are the key challenges influencing the global market for transformer monitoring systems.

Key Takeaways from FMI’s Transformer monitoring system Market Study
  • North America transformer monitoring system market will exhibit stupendous growth at 10.6% CAGR through 2031, due to rapid industrialization, growing necessity to upgrade monitoring system with respect to transformers in U.S. and Canada.
  • Europe transformer monitoring system market led by Germany is forecast to grow at 7.6% CAGR during the forecast period. Rise in growth can be attributed to rising adoption of green transformers and presence of leading manufacturers in the region.
  • Incorporation of modern monitoring system to tackle power outage and related issues in urban area will drive the demand for transformer monitoring systems in India.
  • Japan and South Korea account for 3% of global transformer monitoring system market share in 2021. Increasing need to monitor large and complex power network and high demand of retrofits installation are key growth drivers in these countries.
  • By product type, software segment is projected to surpass the market valuation of US$ 277 at a CAGR of 10.3% in 2021. Advancement in big data analytics and introduction of internet of things (IoT) in monitoring system will drive the market growth of this segment.

“It will be interesting to see how modernization in electricity transmission system will influence the demand for transformer monitoring system during the forecast period. Rising necessity to upgrade monitoring system to comply with green transformers will boost the market growth in upcoming years,” says the FMI analyst.

Who is Winning?

Future Market Insights highlights the key trends emerging in the transformer monitoring system market and discusses the strategies employed by market players to strengthen their market position.

FMI estimated that the power transformer market is dominated by ABB, General Electric, Siemens AG, Maschinenfabrik Reinhausen GmbH, and Groupe Cahors S.A. Out of these top market players ABB holds around 14% of global market share, General Electric holds 10%, Siemens AG holds 12%, Maschinenfabrik Reinhausen GmbH holds 8%, and Groupe Cahors holds 5% of global market share, says FMI.

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Key Segment:

By Product:

  • Hardware
    • Direct Winding Transformer Monitors
    • Intelligent Transformer Monitors
  • Software

By Installation Type:

  • Newly Installed Units
  • Retrofit Units

By Application:

  • Dissolved Gas Analysis (DGA)
  • Partial Discharge (PD)
  • Bushing Monitoring
  • Cooling Control
  • Voltage Regulation

By End Use:

  • Power Transformers
  • Distribution Transformers
  • Other Transformers

By Region:

  • North America
  • Western Europe
  • Latin America
  • Eastern Europe
  • Asia Pacific excluding Japan (APEJ)
  • Japan
  • Middle East and Africa (MEA)
2016 – 2020 Transformer monitoring system Market Outlooks in Comparison to 2021 – 2031 Forecasts

Rapid urbanization and rise in industrial activities has increased the electricity consumption in past few years. With the world is looking towards establishing smart grids for effective distribution of power, the demand for transformer monitoring systems will rise over the forecast period. According to FMI, transformer monitoring system sales revenue will rise at 10.1% CAGR between 2021 and 2031.

The transformer monitoring system is a process oriented system that measures quantities like voltage and current, estimates measurement data through algorithm, creates trends, and performs model monitoring. Introduction of internet of things (IoT) based smart transformer technologies will augment the market growth during the assessment period.

Transformer monitoring system sales is expected to rise due to adoption of bulk manufacturing practices by manufacturers and heightened consumer awareness towards environmental issues.

Developed countries are investing in refurbishing existing grid infrastructure to cater to growing power needs and reduce carbon emission. Advancement in grid technology and upgrade in configurations to comply with green transformers will further complement the industry outlook.

Key Players:

Prominent players operating in the transformer monitoring system market are:-

  • ABB Group
  • Siemens AG
  • General Electric
  • Mitsubishi Electric Power Products Inc.
  • Eaton Corporation
  • Hitachi Ltd.
  • Qualitrol Company LLC
  • Koncar-Electrical Engineering Institute Inc.
  • Maschinenfabrik Reinhausen GmbH (MR)
  • CETT Co., Ltd.
  • Groupe Cahors
  • Camlin Power
  • MTE Meter Test Equipment AG
  • Advanced Power Technologies LLC

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Odour Control System Market 2022 Expectations & Growth Trends Highlighted Until 2029

The newest market research study by Future Market Insights on odour control system includes the global industry analysis for 2014–2018 and market forecast for 2019–2029. The study observes the odour control system market and offers detailed perceptions for the forecast period of 2019-2029. According to the analysis and study done in the report, the global odour control system market is anticipated to observe prominent progress, due to increasing adoption in the chemical industry.

The odour control system market is estimated to be valued at ~ US$ 1 Bn in 2019 and is projected to increase by ~ 5% CAGR during the forecast period of 2019-2029.

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The odour control system market has a high potential to grow in regions such as Asia Pacific Excluding Japan (APEJ) and North America. Significant innovations with incorporation of advanced technologies meeting regulations are expected to emerge as a product differentiator in the odour control system market.

Odour Control System Market – Key Research Findings

  1. The market value of global odour control system in 2019 is estimated at ~ US$ 1
  2. During the forecast period of 2019-2029, the odour control system market is anticipated to grow at a CAGR of ~5%.
  3. Adoption of odour control systems in chemical & petrochemical industry is likely to account for relatively high sales over the forecast period.
    • The growth in demand for odour control systems in the chemical and petrochemical industry can be primarily attributed to their increasing usage in existing as well as new industrial plants.
  4. APEJ (Asia Pacific Excluding Japan) is anticipated to hold more than one third of the revenue shares in the odour control system market by the end of 2029.
    • APEJ will continue to be an opportunistic market for odour control system manufacturers and distributors, owing to increasing industrial and infrastructure development.
    • The odour control system market in Japan is also anticipated to grow at significant rate, complying with the stringent regulations imposed by the government for controlling odour emissions through industrial as well as municipal sectors.
  5. Growing concerns towards E-waste maanagement and waste recycling services across the globe are anticipated to drive growth in odour control system installations.

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Key Factors Shaping the Odour Control System Market

  • Advanced Technologies Emerging as Product Differentiators among ManufacturersDue to the growing integration of automation in industrial sector, the demand for cost-effective and advanced products is increasing, which is creating pressure on manufacturers to offer technologically advanced and unique product offerings. Noteworthy investments in research and development to develop unique technologies by manufacturers of equipment can be seen, which will help them differentiate their products in the odour control system market.Manufacturers of odour control system are focusing on automated monitoring systems for consistent supervision and optimization of the performance of odour control systems.
  • Inclination towards Hybrid Odour Control SystemMost of the odour control systems work on the principal of chemical reaction or physical adsorption. However, these technologies are now getting inefficient to adhere the current regulations imposed by several countries and environmental organizations. Also, these technologies are feasible under certain conditions and can eliminate only a few specific compounds, which vary among industries and processes.This, in turn, has raised the need for developing systems, which are effective over a wide spectrum of odorous compounds. Complying with demands, several odour control system market players are developing systems, which use integrated technology working on dual or triple stages to eliminate all possible odorants.These systems are available in different combinations, which can be chemical- adsorption, adsorption-biological, and hybrid of all three, if required. This, in turn, is estimated to project significant opportunities in the global odour control system market.
  • Environmental Concerns and Stringent RegulationsAs the waste generation has turned out as one of the major point of concern affecting water, land, air and scenic quality, several countries are now emphasizing to craft environmental regimes for proper balance between industrial development and environmental impact. Waste to energy initiatives are being undertaken with utmost importnace across the globe in order to reduce carbon emissions and conserve environment.Countries such as China, India, Iran, Saudi Arabia, and others, which are suffering from intense air pollution are strategizing to control the air pollution by imposing stringent regulation and mandating installation of air quality monitoring systems at all new and existing potential emitters. Such initiatives by government are expected to fuel the demand for odour control systems in the above mentioned countries.

Odour Control System Market Structure Analysis

  • The odour control system market is a moderately competitive market, globally.
  • Strategies followed by key players in the odour control system market are business expansion by acquisitions and mergers, product launches, collaborations and alliances. Key market players focus on strategies such as product expansion and innovation through new dealership networks and collaborations.
  • Noteworthy investments in research and development for novel and sturdy products are anticipated to boost the growth prospects of the odour control system market.

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Key players in the odour control system market are Babcock & Wilcox Enterprises, Inc., CECO Environmental., Anguil Environmental Systems, Inc., Evoqua Water Technologies LLC, Scotmas Limited, Ecolab Inc., Tholander Ablufttechnik GmbH, etc.

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Tower Crane Market 2022 Assessment and Key Insights Analyzed Till 2031

Global tower crane sales are set to be valued at US$ 19.3 Bn in 2021, with a stable long-term projection, according to latest insights from Future Market Insights (FMI), an ESOMAR-certified research and consulting firm. The report estimates global tower crane market to grow at nearly 4.8% during 2021-2031. The report offers analysis in 20+ high-growth markets, providing detailed insights on tower cranes market growth will evolve in the next decade.

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The research report analyzes demand for tower crane. The global tower crane market has been analyzed upon covid-19 impact, macroeconomic factors, market trends & market background. As per FMI’s research scope, the market has been analyzed on the basis of applications, customers & regions. The report gives us qualitative and quantitative information on various players in this market. Also, this report tracks the market by both supply side and demand side.

Demand for tower crane waned in 2020, due to the recessionary effects of COVID-19 on the construction activities, resulting in retardation of new and rental sales of tower cranes However, barring a few countries, the construction activities has resumed at a healthy rate post Q2 of the financial year. With the sector undergoing a recovery mode, the immediate as well as long-term growth outlook of Tower Cranes the market remains positive.

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

Key Takeaways from Tower Cranes Market Study
  1. Following negative returns amid COVID-19, the tower crane market is forecast to register a little below 4% Y-o-Y growth in 2021
  2. The U.S. will continue accounting for maximum sales in North America, holding over 85% of regional market share
  3. The U.K. market is likely to register 3.7% Y-o-Y growth in 2021 backed by recovering construction activities
  4. The demand from Germany and France will account for considerable sales within Europe
  5. China will emerge dominant in East Asia, while Japan and South Korea markets will continue exhibiting growth at a positive pace.

 “Increasing investment in commercial construction as well as in the construction of civic in recent years is expected to provide an impetus to tower cranes sales. Rental base sales will continue to have a greater weightage as against direct ownership based procurement. Competitive price offering, increase in end user satisfaction on the performance, use of advanced technologies are the key strategies adopted by manufacturers operating in the market,” says FMI analyst.

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Compititive Landscape:

The tower crane market is moderately competitive, with presence of large number of players operating in the market. Some of the players are focusing to carve a niche for specific demography. The market has been benefiting from robust partnerships with high focus on innovations. This has led to a series of tower crane launches in the last few years.

For instance:

  • In 2020, Potain launched a tower crane focusing on home building and high-rise.
  • Comansa has recently launched the largest crane, called 21CM750, manufactured at its plant in Hangzhou.

Some of the leading companies operating in the market are:

  • Zoomlion Heavy Industry Science & Technology Company Ltd.,
  • Xuzhou Construction Machinery Group Co., Ltd.,
  • Liebherr,
  • Terex Corporation,
  • Manitowoc,
  • Sany Group,
  • Action Construction Equipments,
  • Konecranes,
  • Raimondi,
  • Comanasa S.A.

Facing challenges such as high cost of the equipment, setup time, and safety of the workers has always been one of the prime concerns of end users. Against this backdrop, some of the leading manufactures within the market are focusing on the development for enabling easy maneuverability of the tower cranes coupled with increasing the production capabilities.

By Segment:

By Lifting Capacity

  • Up to 5 Tons,
  • 5 to 10 Tons,
  • 10 to 20 Tons,
  • 20 to 30 Tons,
  • 50 to 250 Tons.

By Design

  • Top Slewing,
  • Bottom Slewing.

By Product Types

  • Self-Erecting,
  • Hammer Head Cranes,
  • Luffing Jib Cranes,
  • Mobile Cranes.

By End-Use

  • Building & Construction,
  • Civic infrastructure,
  • Marine & Sea Ports,
  • Mining,
  • Others.

By Region

  • North America,
  • Latin America,
  • Europe,
  • East Asia,
  • South Asia & Pacific,
  • Middle East & Africa.

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Aircraft Ground Support Equipment Market Insights, Deep Analysis of Key Vendor in the Industry 2022-2031

Future Market Insights (FMI) in its latest analysis forecasts that the aircraft ground support equipment market will expand at a healthy CAGR of 6.5% between 2021 and 2031. The market valuation is set to reach US$ 9.7 Bn by 2021 end.

FMI also forecasts that the airport ground support equipment sales to top 27,000 units by 2031-end owing to the increasing passenger movement across the world. North America will continue leading the global aircraft ground support equipment market, exhibiting demand at a CAGR of 6%.

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ESOMAR-certified consulting firm Future Market Insights (FMI) in its latest report forecasts the global aircraft ground support equipment (GSE) market to register a CAGR of 6.5% between 2021 and 2031, reaching a market volume of around 27,000 units by 2031 end.

Establishment of new airports along with rising air traffic across the globe is creating huge demand for ground support equipment.

Airport authorities are increasing investment towards improving operational efficiency.  Implementation of sophisticated aircraft ground support equipment is intended to reduce the downtime across airports.

Introduction of electric and hybrid ground support equipment has completely changed the market scenario. These equipment not only minimize emission but also reduce costs and improve efficiency of aircrafts. The ground support equipment market registered a healthy year-on-year growth of 6.6% CAGR between 2020 and 2021.

Due to the outbreak of COVID-19, cargo operations increased considerably as demand for timely transportation of medicines and vaccines rose. The increasing demand for refurbished ground support equipment will further strengthen growth prospects for the global market.

With the expansion of the aviation and tourism industry across the world, the ground support equipment market is set to reach a valuation of US$ 9.7 Bn in 2021.

“Innovations in ground support equipment and availability of ground support equipment rentals will create lucrative growth opportunities for the aircraft GSE manufacturers in the future” says the FMI analyst.

Key Takeaways from FMI’s Aircraft Ground Support Equipment Market Study
  • North America dominates the ground support equipment market as a result of well-established aviation industry. The regional market is set to register steady growth at 6% CAGR between 2021 and 2031.
  • Increasing investments in aviation industry will help China to maintain its dominance over the ground support equipment market during the forecast period.
  • The market in India is expected to offer lucrative growth opportunities to aircraft GSE manufacturers.
  • In terms of power, electric segment is expected to remain dominant owing to the increasing demand for sustainability and green aircraft GSE.
  • By equipment type, the aircraft service segment is expected to remain dominant in the aircraft ground support equipment market, followed by cargo loading and passenger services.

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By Segment:

Equipment:

  • Passenger Services
    • Boarding Steps & Stairs
    • Airport Buses & Transport
    • Beds/Chairs Lifts
  • Cargo Loading
    • Container Loaders
    • Belt Loaders
    • Cargo Transporters
    • Cargo Dollies
  • Aircraft Service
    • Refuelers
    • Tugs & Tractors
    • Ground Power Units (GPU)
    • Air Start Units (ASU)
    • Lavatory Service Vehicles
    • De-icing Vehicles
    • Rescue & Firefighting
    • Air Conditioners
    • Others

  Power:

  • Electric
  • Non-electric
  • Hybrid

Ownership:

  • New Sales
  • Rental/Lease

Application:

  • Commercial
  • Defense

Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APAC excluding Japan
  • MEA
  • Japan
Competitive Landscape

Key players operating in aircraft ground support equipment market are focusing on expanding their business through contracts with airlines across different regions. They are also adopting various organic and inorganic growth strategies such as mergers and acquisitions, advanced product development and collaborations to gain a competitive edge in the market.

In August 2021, Thales partnered with Dragonair Airport GSE service Ltd. to provide an advanced Instrument Landing system (ILS) solution in fully supporting the three-runway system (3RS) expansion project at the Hong Kong International Airport (HKIA). This will enable to further improve the capacity and efficiency of aircraft landing while maintaining the highest standard of flight safety.

In 2019, JBT Corporation announced that it has signed an agreement to acquire Lektro, Inc., a privately held manufacturer of electric aviation ground support equipment based in Warrenton, Oregon.

JBT Corporation, Air T, Inc., Textron, Inc., China International Marine Containers (Group) Co., Ltd., Weihai Guangtai Airport Equipment Co., Ltd., Cavotec SA, ALVEST Group, MulagFahrzeugwerk Heinz Wössner GmbH u. Co. KG, Tronair, Inc., and Lektro Inc. and others.

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Water Treatment Market : Notable Developments & Geographical Outlook 2022 to 2029

The global water treatment market is projected to grow 6% in 2019 and reach a total valuation of ~US$ 48,951.8 million from ~US$ 46,162.7 million in 2018 as per the recent report published by Future Market Insights. Demand for potable water, changing government regulations, and awareness of the negative impact of untreated water are tipped to be the primary growth drivers of the global water treatment market.

According to the report, several key drivers are expected to fuel the growth of the global water treatment market during the forecast period. The notable driving forces include, growing awareness of the hazardous effects of impure water consumption, steady surge in demand for fresh water, adoption of water treatment systems, and demand for quality water from the domestic and industrial sector.

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water treatment market pr

The increase in the adoption of new technologies along with focus on R&D will play an instrumental role in shaping the overall growth of the water treatment market in 2019 and the coming years. Further, established players operating in the water treatment market are likely to increase investments in R&D activities, focus on the development of innovative water treatment systems, and offer cost-effective solutions.

In addition, existing players pushing for product innovation, collaborations with EPC companies and local municipalities, development of patented technologies and high capacity treatment systems are likely to gain a competitive edge in the current industry landscape.

East Asia Emerges as a Promising Region for Market Growth

In the current scenario, North America and MEA are expected to dominate the global water treatment market in terms of market share. However, the report suggests that the market in East Asia will witness a commendable growth through the forecast period 2019-2029. Currently, the market value of the water treatment market in East Asia is ~ US$ 10,065.6 million and expected to reach US$ 24,376.9 million by the end of 2029 growing at a CAGR of around 9.2% throughout the forecast period. The growth is projected to be primarily driven by focus on enhancing water quality and striking a balance between the demand and supply ratio.

Furthermore, the economies of East Asian countries such as China, South Korea, and Japan have shown a steady growth in recent years. Macro-economic parameters including rapid urbanization, growing population, and positive investment patterns have boosted investments in the housing and municipality projects in the region. Other factors such as lack of quality water treatment infrastructure and growing water scarcity have led to a noteworthy increase in the spending to upgrade water treatment facilities in the region.

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Evolving Government Regulations Expected to Shape the Future of Water Treatment

According to the FMI report, in the current scenario, the high demand for chemical-free water is projected to be a key driver of the global water treatment market. Government regulations revolving around water treatment policies are expected to focus on the impact of untreated water on the environment. The evolving government regulations has encouraged market players to focus on the development of eco-friendly water with innovation and adoption of new technologies.

According to the FMI analyst, “The growing demand and focus on chemical-free water has certainly opened up new opportunities for the existing market players. Further, the demand for environment-friendly water will lead to an increase in process water treatment systems in the forecast period.”

In 2019, by application, process water treatment had a high value share of around 47.9% followed by waste water treatment (30.5%). Further, the trend is anticipated to continue throughout the forecast period 2019-2029 driven primarily due to the stringent government regulations.

Water Treatment System Market Key Segment

By System Type

  • Preliminary Treatment
  • Water Treatment
  • Membrane Bio-Reactor (MBR)
  • Reverse Osmosis (RO)
  • Micro-Filtration (MF)
  • Nano/Ultra Filtration (NF/UF)
  • Disinfectants (UV, Ozone)
  • Sludge treatment
  • Activated Sludge
  • Sludge Thickening & Dewatering
  • Sludge Drying
  • Other Sludge Treatment Technology

By Application

  • Process Water/ Water Treatment
  • Waste Water Treatment
  • Zero Liquid Discharge
  • Desalination

By End Use

  • Residential Buildings
  • Commercial Buildings
  • Municipality
  • Industrial
  • Chemical & Petrochemicals
  • Oil & Gas
  • Mining & Metals
  • Food & Beverage
  • Pharmaceuticals
  • Thermoelectric Power Plants
  • Semiconductors
  • Pulp & Paper
  • Sugar Mills
  • Textiles
  • Leather

By Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East
  • Africa

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Centrifugal Pumps Market 2022 Industry Research, Segmentation, Key Players Analysis and Forecast to 2031

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

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

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

centrifugal pumps market key regions and application mekko chart, 2021

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

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

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

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

Key Takeaways from Centrifugal Pump Market Study

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

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

Competitive Landscape

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

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

Find More Valuable Insights

The research report analyzes demand for centrifugal pump. The global centrifugal pump market has been analyzed with the COVID-19 impact, various macroeconomic factors, market trends & market background. As per Future Market Insights’ research scope, the market has been analyzed on the basis of product type, application, and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, supply side and demand side.

Key Questions Answered in the Report

  • How much is the centrifugal pumps market worth?
  • What are the key trends of the centrifugal pumps market?

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Fire Extinguisher Market 2022 Key Players, End User, Demand and Consumption by 2031

As per a Future Market Insights’ (FMI) analysis, the fire extinguisher market is projected to be valued at over ~US$ 3.6 Bn in 2021, expanding at a CAGR of ~5.7% over the forecast period of 2021-2031.

Increasing industrial and commercial sector applications of fire extinguishers, coupled with implementation of stringent regulations and building codes are likely to result in increasing demand over the forecast period.

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However, the ongoing crisis caused by COVID-19 pandemic has severely impacted the global economy. It has resulted in a complete shutdown of the supply chain networks and manufacturing activities. This also has negatively impacted the overall operations in the fire extinguisher market.

global fire extinguisher market key regions and segments mekko chart, 2021

The market is however expected to witness lucrative opportunities during the forecast period owing to increasing demand from commercial and industrial sectors. New unit sales and replacement / retrofit jobs will contribute to growth.

Increasing regulations for building design codes in the residential sector, will also generate gains in the coming decade. Moreover, manufacturers are investing in R&D activities to offer innovative and technologically advanced product offerings. These factors are expected to positively influence growth in demand for fire extinguishers during the forecast period.

Key Takeaways of the Fire Extinguisher Market Study

  • Carbon dioxide extinguishers will account for the leading market share of over 30%, on the back of easy access to raw materials and efficacy in fire control.
  • Dry chemical fire extinguishers are increasingly adopted, due to their superior efficiency in draught-free conditions.
  • Germany will emerge as a key market for fire extinguishers on the back of the implementation of by stringent codes for ensuring better safety in buildings.
  • The U.S. dominates the North America market, accounting for over 80% sales in the region.
  • China will lead the East Asia market, exhibiting growth rate over 6.5% CAGR through the assessment period.

 “With the ever-evolving requirements of the global construction industry, demand for fire safety equipment has grown rapidly. Fire extinguishers in particular, have been at the center of these developments in terms of economically feasible solutions. Innovative product offerings have been important for manufacturers to gain competitive benefits,” says an analyst of Future Market Insights.

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Competitive Landscape

The global fire extinguisher market is highly fragmented in nature, with the presence of numerous small scale and regional players in the market. Strategies followed by key players in the fire extinguishers market include business expansion by mergers and acquisitions, product launches, collaborations, and alliances.

Key market players also are focusing on strategies involving new dealership networks and collaborations. Investments in research and development for novel products are anticipated to boost the growth. For instance:

  • In May 2021, First Alert released a new fire extinguisher aimed towards use in home settings and recreational spaces, as a low budget offering. The product has been designed to meet rechargeable REC 5 standards.
  • In February 2021, Win Time Technology introduced a new, plant-based fire extinguishing agent at the No Agricultural Waste research and development project. The product is set o become an eco-friendly alternative to conventional fire extinguisher offerings.
  • In January 2021, CASP Aerospace announced the release of a new range of environment friendly model 375H673 of fire extinguishers as an alternative to Halon 1211 fire extinguishers with a mounting bracket feature.

Some of the leading companies operating in the market are:

  • Kidde
  • ACTIVAR INC.
  • AMEREX CORPORATION
  • BRITANNIA FIRE LTD
  • Ceasefire Industries Pvt. Ltd.
  • DESAUTEL SAS
  • FEUERSCHUTZ JOCKEL GmbH & CO. KG
  • FIKE CORPORATION
  • FLAMESTOP AUSTRALIA PTY. LTD.

Find More Valuable Insights

The research report analyzes the market demand trends of fire extinguisher market. The global market estimation and growth projection is based on factors like end use industries development, COVID-19 crisis impact, replacement ratio, and adoption rate of fire extinguisher. As per Future Market Insights research scope, the fire extinguisher market has been studied and segmented on the basis of pipe size, application, construction material and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, supply side and demand side.

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Fire Extinguisher Market by Category

By Product Type

  • Water
    • Air-Pressurized Water
    • Water-Mist
  • Foam
    • Aqueous film-foaming foam
    • Compressed air foam system
    • Others
  • Wet Chemical
    • Potassium Acetate
    • Potassium Carbonate
    • Potassium Citrate
  • Dry Powder
  • Carbon Dioxide
  • Dry Chemical
  • Others

By Fire Type

  • Class A
  • Class B
  • Class C
  • Class D
  • Class K

By End Use

  • Residential
  • Commercial
  • Industrial
  • Public Areas
  • Others

Region

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