Pallet Trucks Market Is Expected To Register A CAGR Of 6.8% During 2018 – 2028

The global pallet trucks market is expected to register a CAGR of 6.8% during 2018 – 2028 with China, Europe and North America accounting for significant market value shares by the end of the forecast period.

FMI delivers key insights on the global pallet trucks market in its report entitled ‘Pallet Trucks Market: Global Industry Analysis 2013 – 2017 and Opportunity Assessment 2018 – 2028’ The market value growth of the global pallet trucks market will remain attractive as the market is expected to grow continuously at the at a CAGR of 6.8% in terms of value during the forecast period 2018 – 2028. In the report, average volume per year from pallet trucks has been expressed in volume (‘000 units).

Based on control, the electric segment is expected to register attractive growth over the forecast period, while the manual segment is poised to dominate in terms of volume. Based on design type, the silent and weighing segment will gain market share penetration during the forecast period.

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The annual revenue from pallet trucks globally is valued to be US$ 29,734.6 Mn by the end of 2018, which is further expected to grow at a steady pace over the years. The dominating regions, i.e. North America, China and Western Europe, are collectively to account for majority share in the global pallet trucks market. These regions are likely to dominate the global market over the forecast period.

Global Pallet Trucks Market Dynamics

End users are interesting manufacturers to develop pallet trucks that are more cost efficient and offer better operability for a wider range of applications. As a result, manufacturers are developing pallet trucks incorporated with additional features, making them safer and interactive to use along with other features, such as comfort and digitalisation. The major contribution in end use will be created by wholesale distribution, owing to the boom in the e-commerce market.

Market players are focusing on this segment and are launching new models for warehouse specific applications. As technology continues to grow, pallet trucks will continue to become more energy efficient. In addition, innovative features that are being adopted focussing on enhancing riders’ comfort and protection will become essential components of all kinds of Pallet Trucks. The low replacement rate is expected to hinder the growth of the pallet trucks market. However, the replacement of fuel powered to electric pallet trucks is likely to gain pace in the coming years.

Global Pallet Trucks Market Forecast

Based on control, Future Market Insights suggests that the electric segment will drive the overall market as end users will shift towards opting for environment-friendly vehicles.  Based on type, silent pallet trucks will be an attractive segment for retail stores that require low noise during operations. Among end users, the wholesale distribution segment accounts for a significant value share. In terms of volume, the manufacturing segment is expected to grow at attractive CAGR over the forecast period.

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This China pallet trucks market will dominate the global pallet trucks market, due to the huge consumer goods market in the country. The market has huge potential in China owing to the high demand for pallets from consumer good wholesalers, manufacturers, and transportation service providers. The Western Europe pallet trucks market will be a target market for market participants looking to penetrate in the electric segment. Latin America and MEA are estimated to grow with above average CAGRs respectively over the forecast period. South Africa is expected to hold a major revenue share in the MEA Pallet Trucks market over the forecast period.

Market Segmentation

Based on control, the market is segmented into,

  • Manual
  • Semi Electric
  • Electric
  • Diesel
  • Compressed Natural Gas (CNG)
  • Others

Based on type, the global market is segmented into,

  • Standard
  • Quarter
  • Silent
  • Weighing
  • Scissor

Based on load capacity, the market is segmented into,

  • Below 2000 KG
  • 2000-4000 KG
  • 4000-6000 KG
  • Above 6000 KG

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The fourth section includes the analysis of the market based on end use and it is segmented as,

  • Food & Beverage
  • Retail Stores
  • Wholesale Distribution
  • Freight & Logistics
  • Manufacturing
  • Others

Global Pallet Trucks Market Competitive Landscape

Examples of some of the market participants in the global pallet trucks market reportinclude Toyota Industries, KION Group, Jungheingrich AG, Goscor Lift Trucks, Hyster Company, Hyundai Heavy Industries, Liftek FZC, Linde Material Handling, Thermote & Vanhalst Group, Nido Machineries Pvt Ltd, Nilkamal Limited, Pr Industrial S.r.l., Presto Lifts Inc. and others.

Reverse Osmosis Pump Market by Pump Type – Centrifugal Pump and Diaphragm Pump for 2021 – 2031 : FMI

Global reverse osmosis pump market is set to be valued at US$ 6,077.8 Mn in 2021. The market will grow with a stable long-term projection, according to latest insights by Future Market Insights. The report estimates the market to expand at above 8% CAGR from 2021 to 2031. Growing need for reverse osmosis pumps in the residential and commercial sectors has led to increasing demand in the market. Oil and gas, power generation, and manufacturing industries are exhibiting for reverse osmosis pumps.

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FMI predicts healthy growth in the oil and gas industry in economies such as China, India, the Middle East, and Africa. Expansion of the industry will create prospects for growth in the market. This is because reverse osmosis pumps are used for ensuring accurate and repeatable transportation and filtration to minimize total dissolved solids (TDS) in oil and gas applications.

Desalination plants around the globe are leading customers of high capacity, high-end reverse osmosis pumps. Reverse Osmosis (RO) systems are widely accepted on offshore platform and vessels to provide low TDS (total dissolved solids) water for better oil recovery.

Water filtration is imperative for the commencement of industrial processes. Considering this, the demand for reverse osmosis pumps have considerably risen in recent years. To meet the increasing demand, manufacturers are planning to build new manufacturing units or expand existing infrastructure and production capacities.

Demand for reverse osmosis pump slumped in 2020 due to the COVID-19 pandemic. However, the filtration unit of the domestic and commercial segments of the market were not impacted hard owing to requirements for drinking water on a global scale. Despite the risk of stimulus for bottled water in many countries, the market’s long-term outlook remains optimistic.

Key Takeaways from Market Study

  • Centrifugal reverse osmosis pump will hold over nine tenth of the market share in 2021.
  • Booster pumps are projected to hold over four-fifth of the overall market share as the leading pump type by 2031-end.
  • The market in the India is projected to expand at a CAGR above 15%, supported by investments into industrialization.
  •  The U.S. market is projected to grow at a CAGR nearly 6% CAGR through 2031, supported by presence of mature manufacturing infrastructure and water filtration sector.
  • The markets in China and Turkey are set to surge at around 7% CAGR over the next ten years, driven by the rising demand from industrial end users.

“Investments in municipal water and wastewater sectors in emerging countries are projected to grow at higher pace as compared to developed countries, owing to higher scope for economic growth, demographic changes, and the need to catch up with basic infrastructure requirements, which will drive reverse osmosis pump sales through 2031,” says a Future Market Insights analyst.

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Competitive Landscape

The market is highly consolidated, with key players accounting for more than one-fifth of the market share. These players are likely to invest in new technology developments and expansion of their networks in order to gain competitive advantage.

Some of the key players in this industry include but are not limited to

  • Ebara Corp.,
  • Xylem Inc.,
  • Sulzer AG, and
  • Kubota Corp.

Find More Valuable Insights

The research report analyzes demand for reverse osmosis pump. The global reverse osmosis 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.

Reverse Osmosis Pump Market by Category

By Technology Type:

  • Centrifugal Pump
    • Single Stage
    • Multi Stage
  • Diaphragm Pumps

By Pump Type:

  • Booster Pump
  • Delivery/Demand Pumps

By Flow Rate:

  • 0.1 to 0.5 GPM
  • 0.5 to 1 GPM
  • 1.1 to 5 GPM
  • 5 to 20 GPM
  • 20 to 100 GPM
  • 100 to 500 GPM
  • 500 to 1000 GPM

By Application Type:

  • Domestic & Commercial
    • Filtration Units
    • CounterTop Filter Cum Demineralizer
  • Industrial RO Filtration Unit
    • Manufacturing
    • Oil and Gas
    • Power Generation
  • Seawater Desalination Unit

By Sales Channel:

  • Online
  • Offline

By Region:

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

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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

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Americas Steel Pipes Market Driven by Growing Oil & Gas Explorations : FMI Study

The demand for steel pipes in the Americas has continued growing through 2020, despite challenges arising from the coronavirus pandemic. Rising public and private sector investments into the energy, oil & gas, and construction sectors are contributing to the rise of the industry. As per a new report by Future Market Insights, the sector is likely to reflect a steady upwards trajectory between 2020 and 2030.

Analysts from FMI have indicated the oil & gas sector applications are projected to be the primary revenue source, especially with the discovery of unconventional sources and processes such as shale and fracking.

The Americas steel pipes market is likely to reflect steady, but moderate growth, with growth in niche end use sectors such as mining and automotive production. On the other hand, the industry is likely to face challenges in terms of substitute pipe materials such as plastic and iron, in addition to high costs associated to the production and installation of steel fixtures.

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The study by FMI encompasses an overview of the sector, including prominent dynamics of the market. Some of the critical takeaways of the report include:

  • The Americas steel pipes market was valued at 20.5 billion in 2019, driven largely by the demand from civil infrastructure and the oil & gas sector of the region.
  • Carbon steel pipe products are major contributors to market revenue, with advantages in easier access and chemical and shock resistance over other steel pipe variants.
  • Industrial applications, particularly in the oil & gas sectors are generating greater demand than that of construction and mining sectors through 2030.
  • The United States will remain a major market for steel pipes in the Americas, aided by a vast economy, characterized by steady growth in the past few years. Brazil is likely to reflect relatively positive prospects on the back of changes in government policy.

“The Americas have become a leading region in the production of oil and gas with unconventional resources such as shale gaining the spotlight. With a number of upcoming projects in the United States and Canada demand for steel pipes in the region is expected to surge in the near future,” said a lead analyst at FMI.

Covid-19 Impact on Americas Steel Pipes Market

The coronavirus pandemic has been projected to be moderately impact the Americas steel pipes market. Lockdown restrictions on the manufacturing sector and the mining industry are anticipated to affect raw material supplies and logistics in the supply chain for the short term. Also, the negative effects of the outbreak on the global economy will hurt imports and exports disrupting supply chains.

End use applications, particularly in the automotive and construction sectors, owing to compulsory social distancing regulations are estimated limit market growth. Also, the drop in demand is likely to result in shut down or limited operations at conventional production facilities, in addition to widespread layoffs.

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The problems are likely to be compounded by reduced demand for crude oil, restricting expansion plans in the sector. Recovery is likely to be slow owing to continuing uncertainty over the duration of the pandemic.

Who is Winning?

In its report, Future Market Insights has given detailed analysis on the many strategies being used by manufacturers in the Americas steel pipes market. Key players are emphasizing on investments towards capacity expansions and strategic acquisitions and divestments in line with changing demand in the region.

Some of the leading players in the industry include

  • Arcelor Mittal, Tenaris, Gerdau S/A, American Cast Iron Pipe Company, Baosteel Group Corporation, Evraz plc, Nippon & Sumitomo Steel, and JFE Holdings Corporation among others.

Key Segments

Material type

  • Carbon Steel
  • Alloy Steel
  • Stainless Steel

End Use

  • Construction
    • Residential & Commercial
    • Civic Infrastructure
  • Mining
  • Municipal Water Supply and Treatment Utilities
  • Industrial
    • Automotive
    • Chemicals & Petrochemicals
    • Oil & Gas Pipelines
    • Power Generation
    • Others (textile, pharmaceuticals)

Design

  • Seamless
  • Welded
    • SAW
    • ERW

Country

  • Brazil
  • Argentina
  • Mexico
  • Canada
  • U.S.

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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

Electric Motors Market to expand at over 5.1% CAGR from 2021 to 2031

Global sales of electric motors are set to be valued at over US$ 104 Bn in 2021, with a stable long-term projection, according to latest insights by Future Market Insights (FMI). A new report estimates the market to expand at over 5.1% CAGR from 2021 to 2031. According to Future Market Insights (FMI), increasing automation and robotics in industrial production sector have fuelled the demand for electric motors. The market also is gaining from rapid technological advancement and advent of industrial 4.0.

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The electric motors market however registered moderate decline in its sales volume in FY2020 due to the unforeseen COVID-19 pandemic. Demand from major end-use industries like automotive, oil & gas, and other waned. Contrary to this, sections of medical sector were not affected due to increase in demand amid the adoption of COVID-19 precautionary measures.

Demand for alternating current (AC) electric motors has been steadily increasing. This can be attributed to operating advantage linked with it, its prime advantage is its speed torque characteristics which has raised the application for electric motors in various end uses, owing to which the AC electric motors has secured a prominent share in the global Electric motors market.

The growing requirement for pumping application from agriculture, water treatment plants, oil & gas sector and other industries is expected to drive the electric motors market in the forecast period.

Increasing number of players are focusing on research and development related to electric motors, which is anticipated to contribute towards market growth in the years to come.

Key Takeaways from Electric Motors Market Study

  • <1HP. Power output electric motors are projected to hold over 80% volume share of the global market in 2021, owing to robust demand for various applications.
  • The AC Electric motors are set to hold over 71.6% of the market share on value basis by the end of forecast period.
  • East Asia will remain a primary market, backed by rising demand from the automotive & residential sector. It is expected to account for over 22.7% of the demand registered in globally in 2021.
  • Electric motors for robotics application set to surge at CAGR of approximately 5.9% over the coming decade.
  • The U.K. is emerging as a key market in Europe, with a valuation of over US$ 5.4 Bn in 2021, and anticipated to grow with 5.4% CAGR in the forecast period.

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“The electric Motors market is anticipated to grow at a strong pace driven largely by increasing demand for innovative and energy-efficient products across industries. Raising automation and digitalization in various end-use sectors are key factors fuelling the demand for electric motors. Industry participants are investing in expansions, strategic alliances, and cost effective solutions to gain a competitive advantage,” says a Future Market Insights analyst.

Electric Motors Market by Category

Power Output:

  • <1HP
  • 1-5HP
  • 5 – 10 HP
  • 10 -20 HP
  • 20 – 50 HP
  • 50 – 100HP
  • 100 – 300 HP
  • 300 – 500HP
  • Above 500HP

Product Type:

  • AC Motor
    • Induction Motor
    • Synchronous Motor
  • DC Motor
    • Brushed DC
    • Brushless DC

By Application:

  • Pumps
  • Fans
  • Drives
  • Compressor
  • General Machinery
  • Centrifugal Machinery
  • Grinders
  • Extruders
  • Robotics
  • Others

By End Use:

  • Industrial
    • Oil & Gas
    • Power Generation
    • Mining
    • Food & Beverages
    • Pulp & Paper
    • Chemicals
    • Air Separation Plant
    • Other Manufacturing
  • Residential
  • HVAC & Refrigeration
  • Medical
  • Municipal Water Treatment
  • Transportation
    • Automotive
    • Aviation
    • Electric vehicles
    • Railways
    • Boats
  • Others

By Region:

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

Who is winning?

The electric motors market is highly competitive with more than 1,000+ players consisting of tier-1, tier-2 and local based vendors across the region, key players accounting for around 20-30% of the market share. These players are likely to invest in new technology developments and expansion of their distribution networks in order to maintain their market presence.

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Some of the key players in this industry include but are not limited to 

  • General Electric,
  • Robert Bosch GmbH,
  • Hitachi, Ltd.,
  • Nidec Corporation,
  • WEG S.A.,
  • Siemens AG,
  • ABB Group,
  • Regal Beloit Corporation,
  • Toshiba Corporation,
  • Johnson Electric,
  • Hyosung Corporation,
  • Schneider Electric SE,
  • Bonfiglioli Riduttori S.p.A.,
  • Kirloskar Electric Company Ltd.,
  • Allied Motion Technologies Inc.,
  • East West Manufacturing, LLC,
  • Hyundai Electric Co. Ltd.

Find More Valuable Insights

The research report analyzes demand for Electric Motors. The global Electric motors market has been analyzed with the COVID-19 impact, various macroeconomic factors, market trends and market background. As per Future Market Insights, the market has been analyzed on the basis of power output, product type, application, end use 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 factors.

Automation Gaining Prominence Among Bulk Terminal Market Players : FMI

Despite current downturns in global seaborne trade due to COVID-19 pandemic, the global minor bulk trade has expanded considerably. Analysts at Future Market Insights (FMI) have estimated that global minor bulk traded has expanded up to 1.74 billion tons.

Production of steel and forest products has made up for 43% of minor bulk trade, says FMI report. In addition, metals and minerals have captured around 37% followed by agricultural products, which represents 20% of minor bulk trade.

Agricultural yield is majorly concentrated on countries such as the US, Argentina, Brazil, China, and India, which accounts for over ¾ of export and import of several grains as minor bulk commodities.

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Bulk Terminals Market Size Study

  • Sales of bulk terminals to remain stable over forecast period, 2020-2030
  • Dry bulk continues to generate greater total returns to shareholders (TRS)
  • Nearly 190 terminals were under expansion worldwide in June 2019, with additional 49 under construction
  • Markets in Europe and North America to generate relevant value through 2030

“Majority of global trades are performed through coastal routes, as such, proper functioning of maritime transport is quintessential in overall progress of countries participating in global trade. Port operation accents for heavy investments in manpower and equipment. Consequently, various countries are embracing Public-Private Partnership (PPP), wherein operations and management duties are outsourced to private firms, while respective governments own certain land and assets,” says analyst at FMI.

COVID-19 Impact on Bulk Terminals Market

The COVID-19 pandemic is triggering huge supply chain disruptions for bulk terminals market due to strict lockdown measures, especially in Asian supplier regions. Such stringent measures have led to dearth of workers – truck drivers and labors – at port terminals.

In addition, the market is suffering due to shortage of transportation facilities such as. Studies reveal that trucks and containers dropped by about 50% due to decreasing number of trailers and unavailability of drivers. This has further slowed down transshipping operations at terminals.

Driven by rising concerns regarding worker safety, several end-use industrial operators have brought manufacturing processes to temporary halt, thereby, hurting the demand for bulk terminals.

In an effort to stay afloat amid the COVID-19 crisis, upgradation in automation capabilities will be critical for bulk terminal market players in immediate future.

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Bulk Terminals Market – Competitive Intelligence

Leading players in global bulk terminals market are focused on inorganic growth strategies such as mergers and acquisitions (M&A) as well as contracts in order to boost theor market presence. Case in point,

  • Ultramar Group has entered into transshipment collaboration with Acron Group to transship over 1.2 million tons per year (tpy) of mineral fertilizers.
  • Noatum Maritime has taken over multi-purpose bulk terminal business from Noatum Ports.
  • Teck Resources and Westshore Terminals have entered into an agreement for new throughput contract for export of metallurgical coal beginning in April 2021. The contract will witness 5-7 million mt of metallurgical coal exported from April through December 2021.

Global Bulk Terminals Market Segmentation

By Bulk Type

  • Dry Bulk
  • Grain
  • Coal
  • Iron Ore
  • Others
  • Liquid Bulk
  • Oil
  • Gas

By Region

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific excluding Japan (APEJ)
  • Japan
  • Middle East & Africa (MEA)

To Know More About Bulk Terminals Market:

A new market research report published by Future Market Insights (FMI) on the global bulk terminals market report offers comprehensive insights into the market demand trends and analysis of opportunities over the forecast period, 2020-2030. The report examines the bulk terminals market through two different segments – bulk type, and region. The bulk terminals market report also provides extensive assessment of pricing by different key market dynamics, life cycle analysis, and technologies that are being deployed in the manufacturing of barcode printers and product adoption across several end-use industries.

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About Industrial Automation Division at Future Market Insights

The Industrial Automation & Equipment division at FMI adopts a novel approach and innovative perspective in 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

Steady Demand from Mining and Construction Industries to Boost Growth of Bulk Material Handling Systems Market

Construction and mining industries are major adopters of the bulk material handling systems with demand-driven from activities such as ore extraction, crushing, grinding, site-cleaning, demolishing, decommissioning and others. Moreover, continuous migration, growing urbanization, and high value infrastructure projects with healthy investment drive growth of the bulk material handling market.

The bulk material handling systems market was estimated at US$ 5.1 Bn in 2021 and is projected to register a CAGR of about 2% over the forecast period.

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Key Takeaways of Bulk Material Handling Systems Market Study

  • Key players focus on expansion of footprint in the developing countries, which also involves moving new products into new markets such as the Middle East, China and India where construction industry registered a double digit growth in the past decade.
  • As per the recent trend in the mining industry in the Americas and Asia Pacific, the demand for bulk material handling systems is expected to be from open or surface pit mining especially for coal and ferrous mining.
  • Since the rental and leasing service is a strong aspect of the bulk material handling systems market, many players have incorporated rental services as business segment while directly selling bulk material handling systems.
  • Band conveyor and stackers have been identified as the most recognizable bulk material handling systems as they are capable of accomplishing various tasks such as stock piling and transportation, particularly in packaging and manufacturing end use industries.

“Rental services play a pivotal role in the bulk material handling systems market, as these equipment are capital intensive. Hence, to gain profits in this market, players can focus on offering rental and leasing services while also directly selling bulk material handling systems,” says an FMI analyst.

Bulk Material Handling Systems: Competition Scenario

The bulk material handling systems market is assessed to be fragmented market, where market players such as

are estimated maintain their dominance in the market throughout the forecast period, and have strong order inflow.

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Brief Synopsis

The increasing exploration and production (E&P) activities in oil & gas and mining industries coupled with burgeoning demand from construction industry as a result of growing infrastructural projects is expected to led to high volume orders of bulk material handling systems in the global market.

Increasing awareness of benefits and the resulting demand for automated bulk material handling systems is anticipated to reflect optimistically on the market growth rate of conveyors and stackers.

Though E&P activities in Europe are recovering, the region is projected to foresee healthy growth, attributable to the promising dynamics in the rest of the end-use industries that deploy bulk material handling systems, such as packaging and manufacturing.

Key Segments Covered in Bulk material handling system Market Study:

Application

  • Mining
  • Packaging
  • Construction
  • Manufacturing
  • Sea Ports & Cargo Terminals

Equipment

  • Stacker
  • Stacker cum Reclaimer
  • Band Conveyor
  • Bucket Wheel Excavator
  • Stripping Shovel
  • Rope Shovel
  • Bucket Elevator
  • Ship Loader and Unloader

Region

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

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What’s in it for you?

The global bulk material handling systems market report published by Future Market Insights details an extensive market analysis for the projected period of 2021-2031. The bulk material handling systems report offers a comprehensive analysis of major equipment across various end use industries with their regional market dynamics and sales forecast. The study contains information about emerging market opportunities over the forecast period, and also highlights supply trends, key considerations for manufacturers, and other macro-and-micro factors impacting the growth of the bulk material handling systems market.

China Industrial Hoses Market: Cryogenics and Air Separation Applications to Reflect 7.1% CAGR

[200 Pages Report]  In 2021, the China Industrial hoses market is estimated to record 5.7% year on year growth, bucking initial skepticism about how the market would perform during a global pandemic. In China, the total demand of industrial hoses is expected to reach 548 Mn Meters by 2031.

According to the analysis by Future Market Insights (FMI), the China industrial hoses market will surpass a valuation of US$ 1.9 Bn in 2031, rising at a CAGR of 7.3%. Ultra-high pressure industrial hoses will reflect a positive growth outlook with a CAGR of 7.5% through the assessment period.

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The sales of industrial hoses in China are also understood to have risen with demand from its domestic market commanding over 55% of the nation’s total sales and consumption. The export curbs are also likely to be eased in the upcoming years.

The oil and gas industry is considered as one of the prominent users of industrial hoses. Crude oil and gas being corrosive in nature may erode linings and will call for regular installment of hoses, thus driving the sales of replacement units. Superior grade materials such as composites, polymers, and steel is expected to augur the sales of industrial hoses to a high degree.

Advent of cryogenics in HVAC, industrial air separation plants, and medicine has necessitated the use of industrial hoses under extreme pressure and temperature. Steel and braided hose types have been preferred for the same. The demand is likely to be propelled by the medical and life sciences sectors incorporating cold storage systems and cryogenics.

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Key Takeaways from Market Study

  • China has an estimated share of 9.1% of the global industrial hoses market and close 30% of regional market consumption owing to the country’s high manufacturing output.
  • Lubricant hoses to hold the lead with US$ 166.1 Mn in 2021 owing to extensive use in automotive applications.
  • Plastic and polymer hoses account for over 33% of the value share in 2021, owing to cost and durability benefits.
  • Energy applications to account for US$ 148 Mn in 2021, driven by investments in energy infrastructure upgrades.
  • Leading provinces in China are estimated to contribute over 40% of the overall market consumption at 1.1 X of the overall CAGR.

“Transportation of critical fluids under stringent pressure regulations and demand from construction, oil and gas, and cryogenics sectors are major factors driving the demand for industrial hoses in China through 2031,” says a Future Market Insights analyst.

Industrial Hoses Market by Category

By Material:

  • Plastics &  Polymers
    • PTFE
    • PUR
    • PVC
    • Nylon
    • Silicone
    • Hybrid
  • Steel
  • Braiding Yarn
  • Composites

By Product Type:

  • Tank Water Hoses
  • Gardening Hoses
  • Fuel Hoses
  • Diving Hoses
  • Brake Hoses
  • Bicycle Hydraulic Brake Hoses
  • Lubricant Hoses
  • Hydraulic Hoses
  • Mini Hydraulic Hoses
  • Pneumatic Hoses
  • Cryogenic Transfer Hoses
  • Gas Connection Hoses

By Pressure Intake:

  • Low Pressure
  • Medium Pressure
  • High Pressure
  • Ultra High Pressure

By Application:

  • Commercial Plumbing
  • Residential Plumbing
  • Gardening
  • Manufacturing
    • Food & Beverages
    • Chemicals
    • Pharmaceuticals
    • Others
  • Cryogenics & Air Separation Plants
  • Energy
  • Marine Engines & Equipment
  • Diving Device
  • Vehicles
  • Heavy Duty Trucks
    • Off Road Construction & Earth Moving Equipment
    • Industrial Forklifts
    • Agricultural Vehicles
    • Mining Vehicles
    • Fuel Tankers
  • Water Tankers

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Competitive Landscape

The market is highly fragmented, with key players accounting for slightly more than one-fifth of the market share. These players are likely to invest in developing new materials and expansion of their clientele in various industries to enhance their product portfolios.

Some of the key players in this industry are Parker Hannifin Corporation, Tiger Polymer Corporation, Continental AG, Eaton Corporation, Rehau Group AG, Balflex LLC, Trelleborg AB, Kuriyama Holdings Corporation, and Qingdao Everflex Rubber & Plastic Co., Ltd. amongst others.

Global Dredging Market to Experience Deceleration amid COVID-19: FMI

Future Market Insights (FMI), an ESOMAR-certified market research and consulting firm, has published an updated edition to its widely cited report on the global dredging market.  The study revises its earlier forecast on dredging market growth, readjusting key indicators for COVID-19 impact.  Downturns are largely attributed to volatility in the oil & gas sector, a key end-use industry for dredging projects. However, government efforts to address flooding problems in coastal areas and low-lying plains is likely to keep dredging projects demand sustained in the long-term.

Furthermore, efforts to sustain global trade volumes to reinvigorate the economy is providing much-needed stimulus to the market.

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Key Takeaways

  • High urbanization rate across emerging economies to fuel dredging projects in the long run
  • Government agencies to comprise over 40% of the dredging equipment customer base
  • Adoption of innovative equipment monitoring technologies such as smart virtual software growing
  • East Asia to emerge as the largest market, expanding at over 4% CAGR
  • Trade maintenance to be key application area, accounting for 3 out of 10 projects through 2030.

dredging market

“Rising concerns over possible environmental damage is prompting dredging corporations to collaborate with governmental and private players to develop eco-friendly approaches to expand their projects,” concludes an FMI analyst.

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COVID-19 Impact Insights

The COVID-19 pandemic has resulted in an unprecedented recession which is expected to influence the dredging market size to a large extent. Massive production crunches across the oil & gas and tourism sectors are adversely impacting the dredging market.

As the pandemic spread, the grounding of airplanes and automobiles led to a massive downswing in the transportation sector. This resulted in an abrupt demand shock across the oil and gas industry, compelling oil producing giants to cease production, leading to a glut in product inventories.

Fortunately, recent months have witnessed a shoring up of oil prices. Still, OPEC+ countries have curbed supply, with cuts amounting to 7.7 million barrels per day prevailing until December 2020. Such downswings are impacting dredging projects throughout the entire world.

The present-day slump in oil prices is akin to the 2008 financial crisis. Possible recovery is anticipated in 2021 or 2022, restoring prices to pre-crisis levels of US$ 50-60 per oil barrels. This projected favourable outlook is likely to restore prospects for the global dredging market, as companies are expected to resume exploration projects.

Competitive Landscape

The global dredging market comprises of numerous regional and global vendors, rendering the market highly competitive. Players rely on strategic alliances, joint-ventures and development of technologically advanced solutions to penetrate lucrative markets.

In 2019, Jan De Nul Group initiated maintenance dredging works in Nieuwpoort, Belgium. This project was part and parcel of the company’s commitment to reduce CO2 emissions by 15%. To achieve this, it incorporated renewable biofuel from sustainable waste flows.

In October 2020, Royal Boskalis Westminster N.V secured multiple dredging contracts across Germany worth € 45 million from a host of regional maritime transport vendors. These contracts aim to provide flood protection, construction of a shipping fairway and port maintenance across numerous locations.

Key Segments

Application

  • Trade Activity
  • Trade Maintenance
  • Energy Infrastructure
  • Urban Development
  • Coastal Protection
  • Leisure

Customer

  • Government
  • O&G Companies
  • Mining Companies
  • Renewables
  • Others

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Region

  • North America (U.S & Canada)
  • Latin America (Brazil, Mexico, Argentina & Rest of Latin America)
  • Europe (Germany, Italy, France, U.K., Spain, BENELUX & Rest of Europe)
  • East Asia (China, Japan & South Korea)
  • South Asia & Oceania (India, Thailand, Malaysia, Singapore, Australia & New Zealand and Rest of South Asia & Pacific)
  • Middle East & Africa (GCC, South Africa, Nigeria, Israel & Rest of MEA)

More Insights on the Dredging Market

Future Market Insights provides a comprehensive overview on the global dredging market, including a historical forecast from 2015 to 2019 & opportunity assessment from 2020-2030. The study provides compelling insights on the global dredging market on basis of application (trade activity, trade maintenance, energy infrastructure, urban development, coastal protection & leisure) and customer (government, O&G companies, mining companies, renewables & others) across six major regions.

Dry Vacuum Pumps Market Demand and Research Insights by 2028

Dry Vacuum Pumps Market report by TMR comprises an elaborated executive summary that offers a snapshot of the market undercurrents, it lists succinct information on drivers, trends, challenges, competition, and regional analysis.There is a continuous thrust on renewable power production across the globe, in the wake of global warming and a sustained need to protect the environment. Regions such as North America, Europe, and Asia Pacific are engaged in the production of renewable power through alternate sources such as solar energy. The governments of several countries across the world are encouraging private players to create sustainable, green power through solar and other forms of renewable energy and are also offering tax and other incentives to promote the generation of solar power. This has led to a sudden increase in the number of solar plants and projects globally, thereby driving the production of solar panels. This is set to fuel the demand for dry vacuum pumps, according to a recent market intelligence outlook published by Future Market Insights (FMI).

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In this new report on the global dry vacuum pumps market, FMI predicts revenue from the sales of dry vacuum pumps to reach US$ 1,680.8 Mn by the end of 2018 and this is expected to increase to US$ 3,070.1 Mn towards the close of 2028. The global dry vacuum pumps market is slated to register a growth rate of 6.2% during the decade 2018 to 2028.

Steady and Growing Demand from the Electronics and Semiconductor Sectors to Augur Well for the Dry Vacuum Pumps Market

Growing infrastructural activities across the globe are directly favouring the demand for pumps. The electronics and semiconductor industries have witnessed rapid revenue growth over the last few years, with an increasing focus on the manufacturing of semiconductor and electronic components and equipment. This has led to an increase in demand for dry vacuum pumps from these industries, especially in the production of micro-electronics and chips. Manufacturers of semiconductor and electronic components such as Panasonic, Samsung, Meiko Electronics, Saigon Semiconductor Technology, and Taiwan Semiconductor Manufacturing Co. are setting up production plants in developing regions to benefit from cost competitiveness. Local governments across several developing countries such as Brazil, India, and ASEAN countries are focused on increasing foreign direct investments in the manufacturing sector. This is expected to boost sales of dry vacuum pumps in the coming years.

Opportunity Assessment of the Dry Vacuum Pumps Market

Future Market Insights has conducted an extensive opportunity assessment of the global dry vacuum pumps market for the 10 year period 2018 to 2028. One of the key opportunity areas in the global market for dry vacuum pumps lies in the strategic investments being made globally across the pharmaceutical industry. Demand for dry vacuum pumps is steadily increasing from the pharmaceutical industry in developing countries such as Indonesia, India, Brazil, and China. Further, there is a lack of local manufacturers of dry vacuum pumps in developing economies, with the top manufacturers based in Japan, U.S, Germany, and certain other European countries. This scenario presents lucrative growth opportunities for global manufacturers of dry vacuum pumps to establish production facilities in developing economies. Setting up bases in developing regions will help manufacturers benefit from better economies of scale, given the low production and labour costs in developing countries.

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Key Segments Covered

By Product Type,

  • Dry Screw Vacuum Pump
  • Dry Scroll Vacuum Pump
  • Dry Diaphragm Vacuum Pump
  • Dry Claw and Hook Pump
  • Others (Dry Lobe Vacuum Pump, and Dry Rotary Vane Vacuum Pump)

By End Use,

  • Electronics & Semiconductor Industry
  • Pharmaceutical Industry
  • Chemical Industry
  • Others (Printing Industry, Packaging Industry, Food and Beverages Industry)

By Region,

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Middle-East & Africa (MEA)
  • China
  • Asia Pacific excluding China (APEC)

Low-cost Chinese Products and Lack of Skilled Labour in Developing Regions to Restrict Revenue Growth of the Global Dry Vacuum Pumps Market

The global market for dry vacuum pumps is disrupted by several players from China who offer products at very low prices. Owing to the increasing price pressure from these companies, leading global players are striving to offer high-quality dry vacuum pumps that are more reliable and efficient at highly competitive prices. This price sensitive nature of the global market is expected to restrain revenue growth in the coming years. The dry vacuum pumps markets in the Latin America and SEA regions suffer from a very high dependency on imports from other regional markets, owing to a lack to talented and experienced local vacuum technology professionals. This is leading to a stagnancy in revenue growth of the global dry vacuum pumps market to a certain extent.

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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.

To understand the other revenue push and pull factors impacting the global dry vacuum pumps market, write in to Future Market Insights analysts at press@futuremarketinsights.com

Centrifugal Pumps Market sales to increase at 4.6% CAGR between 2021 and 2031.

[294 Pages Report] The Centrifugal Pumps Market is expected to register positive growth through 2021, with the overall valuation forecast to surpass US$ 29 Bn in 2021. Future Market Insights (FMI) projects centrifugal pumps market sales to increase at 4.6% CAGR between 2021 and 2031.

While industrial applications are expected to register maximum demand, growth exhibited by the agricultural segment will be at a higher pace. FMI has forecast the centrifugal pumps demand to rise at 4.7% between 2021 and 2031 in the agricultural segment.

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Key Points Covered in Centrifugal Pumps Market Study

  • Market estimates and forecast 2016-2031
  • Key drivers and restraints impacting market growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on XYZ and How to Navigate
  • Recommendation on Key Winning Strategies

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

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

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

Key Takeaways from Centrifugal Pump Market Study

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

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

Centrifugal Pump Market Key Segment

Product Type

  • Single-stage Pumps
  • Multi-stage Pumps
  • Axial & Mixed Flow Pumps
  • Submersible Pumps
  • Seal-less & Circulator Pumps

Pump Capacity (HP)

  • Small Capacity Pumps
  • Medium Capacity Pumps
  • High Capacity Pumps

End Use

  • Industrial
    • Chemical
    • Water & wastewater
    • Oil & gas
    • Power
    • Pharmaceutical
    • Food & Beverages
    • Others
  • Agricultural
  • Domestic

Region

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific Excluding Japan (APEJ)
  • Middle East & Africa (MEA)
  • Japan

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Centrifugal Pump Market 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 in Centrifugal Pump Market

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.