Electrical Enclosure Market Is Expected To Reach US$ 10,370.0 Mn By The End Of 2028 : FMI Study

Future Market Insights delivers key insights on the global electrical enclosure market in a new publication. The long-term outlook on the global electrical enclosure market remains positive with the market value expected to increase at a CAGR of 4.9% during the forecast period (2018-2028).

Among the end-use segments in the electrical enclosure market, the industrial segment is expected to expand at a significant CAGR in terms of value as well as volume over the forecast period. Global sales revenue of electrical enclosures is estimated to be valued at US$ 6,429.8 Mn by the end of 2018.

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China is estimated to account for a value share of 37.1% in the global electrical enclosure market by 2018 end and is anticipated to retain its dominance throughout the forecast period. In this report, Future Market Insights throws light on the various drivers and restraints likely to impact the revenue growth of the market during this period.

Some of the end-use applications considered in this report on electrical enclosures include industrial, commercial and residential sectors. The global Electrical Enclosure market is estimated to have been valued at US$ 6,161.0 Mn at the end of 2017 and is expected to reach US$ 10,370.0 Mn by the end of 2028 while expanding at a CAGR of 4.9% over the forecast period. The global Electrical Enclosure market is anticipated to represent an incremental opportunity of US$ 3,940.2 Mn between 2018 and 2028.

Rapid Growth of Renewable Power Generation Key Growth Driver

Most of the end-users are now shifting their focus to alternative forms of power or energy rather than depending on energy generation by fossil fuel-operated power generators. These alternative forms of energy – for instance, wind power, solar power, and other forms of renewable energy are gaining popularity among all types of end-users.

Additionally, carbon emissions and dependency on fossil resources are increasing day by day. Thus, to control this dependency, the usage of renewable energy sources such as wind and solar energy is likely to be the new trend in the energy and power industry.

The establishment of these power generation facilities will increase the demand for electrical enclosures in the upcoming years. Many countries such as the U.K. and Germany among others are planning to adopt renewable energy sources, which is expected to further increase the demand for electrical enclosures for transmission and distribution.

Capacity Addition Plans and Installation of New Grids to Power the Electrical Enclosure Market

The governments of various countries have planned to make huge investments in numerous projects to provide better electricity services. For instance, the government of Russia has devised plans such as the GOELRO plan, Russian SFSR Electrification Plan, and Railway Electrification Plan among others, for establishing new power grids to provide electricity in the rural areas of the country.

These plans are being supported by the State Commission for Electrification of Russia. Also, the government is focussing on installing new transmission lines to create a national grid and also to develop railway electrification, which will, in turn, boost the demand for electrical enclosures. These planned investments across various sectors such as infrastructure, power, and railways among others, will drive significant growth in the electrical enclosure market.

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Need for Integration of Grid Infrastructure

Increasing transmission and distribution activities across the globe have increased the demand for installations of enclosures, which in turn, is driving the market of electrical enclosures. Transmission and distribution expansion, along with urbanization, is necessary for the development of the industrial and manufacturing sectors.

Some countries, such as GCC countries and Turkey have the potential to become the hub for many manufacturing industries, which will increase the demand for electrical enclosures owing to rapid industrialization. By material type, metallic enclosures will witness supreme demand as they have a longer life and reduce the risk of fire hazards. Climate control enclosures can work in extreme climatic conditions and are ideal for use in several regions, thereby driving demand in the global market.

Segmentation Analysis

The electrical enclosure market is segmented based on product type into junction enclosure, disconnect enclosure, operator interface enclosure, environment, and climate control enclosure, and push-button enclosure.

Based on product type, the junction enclosure segment is anticipated to continue to dominate the global market in terms of value over the forecast period. The junction enclosure segment is estimated to grow at a relatively high CAGR as compared to other types over the forecast period. It is expected to represent a total incremental opportunity of US$ 1,691.2 Mn between 2018 and 2028.

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Regional Market Projections

The electrical enclosure market in China is expected to represent a significantly high incremental opportunity between 2018 and 2028, while the North American electrical enclosure market is projected to expand at a significant CAGR in terms of volume over the forecast period. Sales of electrical enclosures in North America are expected to represent a total incremental opportunity of US$ 523.3 Mn between 2018 and 2028.

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Combi Ovens Market is expected to witness a considerable value CAGR of 10.7%

[238 Pages] The global combi ovens market to grow with a year-on-year value growth of 10.2% in 2022 reaching a value of about US$ 1,996.9 Mn by 2022 end. Combi ovens are available for Convection, steaming, and combination cooking. The combination mode employs both dry heat and steam to maintain precise humidity levels in the food, allowing for more control over moisture levels.

For professional food preparation, a combi oven can be utilised to replace both equipment’s, saving time, space, and money. The global businesses is expected to witness a considerable value CAGR of 10.7% during the period of 2022 and 2027.

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FMI has identified Western Europe to remain a key market for combi oven over the forecast period owing to increasing demand from end-use applications. The region is estimated to witness a value of a CAGR8.5% during the period 2022 and 2027. Global Combi Ovens Market is expected to account for about 1.3% of the global machine tool market.

2012-2021 Global Combi Ovens Market Outlook Compared to 2022-2027 Forecast

Combi Ovens do a range of tasks including baking, roasting, broiling and steaming. It is becoming more popular for preparing continental cuisine. Combi Ovens are becoming a popular alternative to traditional foodservice equipment because of their features and high utility. Electric Combi Ovens are also becoming more popular in high-altitude settings.

As a result, their demand is expected to skyrocket in the future years. The ability to self-clean is the most significant characteristic of a combi oven, which makes it a popular choice.

Most combi ovens offer self-cleaning systems that use either tablets or liquid detergents. As a result, maintenance time and cost are significantly reduced. This is expected to shoot up the demand for combi ovens in will help to augment supply.

What are the key attributes to increase the usage of Combi oven in near future?

Consumer preferences have shifted from full-service restaurants to fast-service restaurants as a result of rapid lifestyle changes. Furthermore, transporting LPG at such high altitudes is costly. As a result, the use of LPG-powered appliances has reduced significantly over time.  With this confidence, investors are eager to invest in hotel and restaurant development.

As a result of its unique features and capacity to perform in any situation, the demand for combi ovens for applications in cruise ships, ships, and marine vessels is expected to expand dramatically. Furthermore, in many areas, hotel construction is still in its early stages. The upmarket and premium hotel segment is expected to develop significantly in the future years.

Pressurized fuel systems are ineffective at high elevations. The supply of LPG is influenced by two factors: pressure differences and a shortage of oxygen. The pressure differential between the pressurised tank and the lower outside pressure drops at high altitudes, allowing the gas to exit the canister more easily.

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Combi Ovens are becoming attractive options in high-altitude settings as a result of this. This is expected to provide a vital boost to demand and prospects for the Combi Ovens market to expand in the future years.

Global Combi Ovens Market by Category

By Product Type, the Global Combi Ovens Market is segmented as:

  • Steam Generated
  • Boilerless

By Power Unit, the Global Combi Ovens Market is segmented as:

  • Gas
  • Electric

By Capacity, the Global Combi Ovens Market is segmented as:

  • Low
  • Medium
  • Heavy

By End-use, the Global Combi Ovens Market is segmented as:

  • Hotels & Restaurants
  • Bakery Stores
  • Retail Outlets
  • Domestic & Institutional
  • Commercial Kitchens

By Region, the Global Combi Ovens Market is segmented as:

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

Combi Oven Market Competitive Landscape

Over the past few years, increment in the number of acquisitions and expansion activities has been witnessed to improve the supply of Combi oven. Several key players are also focusing on improving efficiency of machine mount for various applications. Emergence of various manufacturers had also been witnessed in the global businesses especially in China.

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For Instance,

  • In February 2017, Alto-Shaam Inc. introduced the new self-cleaning rotisserie oven, which features several time-saving options, including automatic cleaning, grease collection and touchscreen controls.
  • In 2017, the company launched its Easyair Combi Oven. This medium duty combi oven is stackable and accepts data via a USB port for up to a pre-set temperature of 99 degree Celsius.

The latest study conducted by Future Market Insights covers all the strategies and success factors of key manufacturers of the market.

*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis is available in the report.

Process Liquid Analyser Market is projected to reach US$ 4.22 Bn : FMI

According to a new research study by Future Market Insights (FMI), the process liquid analyser market is slated to reach a valuation of about US$4 Bn by 2028. From an estimated value of just under US$2.4 Bn in 2018, this indicates a decadal growth rate of 5.8% from 2018 to 2028. Mass urbanisation across the globe brought about by rapid industrialisation has resulted in a sustained need for clean, potable water and wastewater treatment.

The governments of emerging economies, particularly in the Asia Pacific, are beefing up investments in water and wastewater treatment infrastructure to meet the rising demands of the population. Future Market Insights predicts a lucrative opportunity for new revenue generation in the process liquid analyser market as a direct consequence of these investments.

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Process Liquid Analyzer Market: Drivers and Trends

The global process liquid analyzer market is expected to witness a robust growth rate in the coming years. The unique benefits offered by process liquid analyzers for process integrity management and product quality control are driving the process liquid analyzer market across the globe.

Additionally, the increasing demand from end-use sectors, particularly water treatment, food & beverage and chemical, is also aiding the market growth of process liquid analyzers. While countries such as the U.S., the U.K., Germany, and China have solid demand for process liquid analyzers, new growth avenues are opening up in regions such South East Asia Pacific and the Middle East & Africa as well.

Process Liquid Analyzer Market: Market Participants

Some of the prominent players reported in the global process liquid analyzer market study include Emerson Electric, Yokogawa Electric, Endress+Hauser and Danaher Corporation (Hach), among others. New product launches, expansion of manufacturing and sales footprint and acquisitions are some of the key developments observed in the global process liquid analyzer market.

Key Segments Covered

By Technology,

  • NIR Based
  • NMR Based
  • ECD Sensor Based
  • Laser Based

By Liquid Medium,

  • Water
  • Oil
  • Other Chemicals & Liquids

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By Product,

  • pH & ORP (Oxidation-Reduction Potential) Analyzers
  • Conductivity Analyzers
  • MLSS (Mixed Liquor Suspended Solids) & Turbidity Analyzers
  • Liquid Density Analyzers
  • Chlorine Analyzers
  • Dissolved Oxygen Analyzers
  • Total Sulfur & Nitrogen Analyzers
  • Oil in Water Analyzers
  • TOC Analyzers
  • Heavy Aromatics Analyzers

By Display,

  • Analog
  • Digital

By End Use,

  • Oil & Petrochemicals
  • Water & Wastewater Treatment
  • Food & Beverages
  • Chemicals
  • Medical & Pharmaceutical
  • Others

By Region,

  • North America
  • Western Europe
  • South East Asia & Pacific
  • Latin America
  • Eastern Europe
  • Middle East and Africa
  • China
  • Japan
  • India

Revenue Pullers in the Process Liquid Analyser Market

While the need to enhance industrial operational efficiencies and ensure consistent integrity of industrial processes is driving the process liquid analyser market, there are certain factors that are restricting revenue growth. Process liquid analysers come with very low replacement rates, requiring the replacement of the product after a span of several years. Product longevity acts as a bane in subsequent replenishments, thereby restraining replacement revenue growth to some extent. Then again, the initial setup costs associated with process liquid analysers could be very high, depending on the end-use application. Complex process liquid analysers used in some of the crucial industrial processes may require high capital investments. This factor is also expected to act as a hindrance to revenue growth of the global process liquid analyser market.

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FMI Projections and Forecasts of the Process Liquid Analyser Market

  • The process liquid analyser market is estimated to generate incremental $ opportunity to the tune of about US$ 1.8 Bn in the next 10 years
  • Process liquid analysers deploying NIR technology are slated to have the widest application
  • TOC analysers to dominate the global market through 2028; pH & ORP analysers to witness fastest growth owing to increasing application across several end-use industries
  • Process liquid analysers with digital displays to hold largest market share in the coming decade
  • Demand from the water and wastewater treatment sector will witness fastest growth during the period 2018 – 2028; this is also the largest revenue generating end-use sector in the global market
  • North America to remain dominant regional market for process liquid analysers through 2028; China and India to remain top regional markets in terms of demand for process liquid analysers

Transformer Monitoring System Market Is Forecast To Register 10.1% CAGR Between 2021 And 2031

[284 Pages Report] The transformer monitoring system market sales will total US$2 billion in 2021. Demand outlook remains impressive as the market is forecast to register 10.1% CAGR between 2021 and 2031

Despite challenges posed by COVID-19 outbreak, the transformer monitoring system market registered 10.9% year-on-year growth between 2020 and 2021. Expansion in overseas territories for business development by original equipment manufacturers (OEMs) will create attractive prospects for growth of the market in the coming years.

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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%.

Governments around the world are focusing on electrifying their rural areas. This has created a large and complex power and grid network. Transformer monitoring system helps in monitoring, inspecting, and maintaining such network and assists in limiting power outage due to transformer failure. These factors along with increasing investment to upgrade the ageing power infrastructure to cater the increasing demand of electricity will boost the market growth over the forecast period.

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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They are focusing on new product development to reduce the carbon footprint and are also emphasizing on expanding in overseas territories for business development.

  • For instance, ABB introduced its new model based monitoring system in April 2019. This system was used in combination with standard substation equipment and was presented in MicroSCADA Pro. This allows easy performance evaluation while in service and can detect imminent faults.
  • H2scan launched the “Gen 5 System” designed to reduce the risk of explosion in high voltage transformer. The new system is said to be compatible with wide range of transformers.
  • Hitachi ABB Power Grids recently introduced Txpert™ bushing monitoring and diagnostic system which enables real time monitoring for power transformers. The new system combines voltage reference and sum of current capabilities of Coretec™ 4, TXpert™ Hub with TXpert™ ready bushing sensors to deliver real time solution for digital bushing monitoring and enable smarter decisions based on obtained data.

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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More Insights on the Transformer monitoring system Market

In its latest report, FMI offers an unbiased analysis of the global transformer monitoring system market, providing historical data for the period of 2017-2027 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of by product type (hardware and software monitoring system), by application type (dissolved gas analysis, partial discharge, bushing monitoring, cooling control, and voltage regulation system), by installation type (newly installed units and retrofit units), by end use (power transformers, distribution transformers, and other transformers), and by region (North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and Middle East & Africa).

Odour Control System Market is projected to increase by ~ 5% CAGR

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.

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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.

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.

Lead Acid Battery Market valuation will top US$ 90.5 Bn by 2031 : FMI

[250 pages Report] The lead acid battery market valuation is expected to reach US$54.3 Bn in 2021. Future Market Insights (FMI) analysis has forecast the lead acid battery sales to increase at 5.2% CAGR between 2021 and 2031. According to the study, the overall lead acid battery market valuation will top US$90.5 Bn by 2031.

As per FMI, the demand for AGM battery is expected to increase at a high pace, exhibiting 6.2% CAGR in 2021.

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According to the market analysis by Future Market Insights, expansion of automotive production facilities to cover rural and other remote areas has led to the increasing demand for lead acid battery. Rapid technological advancements in production technologies are also projected to complement market growth over the coming years.

Demand for lead acid battery is increasing with the rise in the volume of vehicle fleet in recent years. This can be attributed to an increase in aftermarket sales in regular interims for battery replacement.

The growing requirement has led to mass production and has increased importance of process automation in the lead acid battery market. The market is shifting towards industry 4.0 is, leading to the universal adoption of new production technologies.

There also is an increasing demand from other industries for deployment of lead acid battery. Increasing number of players focusing on research and development related to lead acid battery is anticipated to have a significant contribution towards market growth in the years to come.

Key Takeaways from Lead Acid Battery Market Study

  • Flooded battery is projected to hold over 49% of the global market share in 2021 in terms of product type, supported by superior configurations.
  • Transportation is projected to hold over 56% of the overall market share as the leading segment in terms of application by 2031-end, supported by increasing investments in electric vehicles production.
  • China will remain a chief market, backed by rising demand from the automotive industry. It is expected to account for over 57.3% of demand registered in East Asia in 2021.
  • The markets India is set to surge at around 6% CAGR over the next ten years.
  • Germany is emerging as a key market in Europe, accounting for over US$ 2,509.4 Mn in 2021, driven by expansion of the automotive industry.

“The lead acid battery market is growing at a strong pace, driven largely by increasing demand for energy efficient solutions across the automotive sector. The increasing demand for electric vehicles will create extensive opportunities for manufacturers. Key industry participants have been focusing product diversification to offer energy efficient solutions and gain a competitive advantage,” says a Future Market Insights analyst.

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Lead Acid Battery Market by Category

By Product Type:

  • Flooded Battery
  • AGM Battery
  • Gel Battery

By Application:

  • Transportation
    • Passenger Cars
    • LCV
    • HCV
    • Two wheelers
    • Others
  • Motive Industrial
  • Stationary Industrial
  • Commercial
  • Residential
  • Grid Storage
  • Others

By Sales Channel:

  • OEM
  • Aftermarket

By Region:

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

Competitive Landscape

The lead acid battery market is highly competitive at regional as well as global levels, and highly consolidated in nature. These players are likely to invest in new technology developments and 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 Furukawa Electric Co., Ltd., Narada Power Source Co. Ltd., Clarios, Leoch International Technology Ltd., Enersys, Exide Industries Ltd., GS Yuasa Corporation, East Penn Manufacturing Co., Chaowei Power Holdings Limited., and others.

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Find More Valuable Insights

The research report analyses demand for Lead Acid Battery. The global Lead Acid Battery 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 based on product type, power source, 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.

Dryer Sheets Market 2021 Development Status, Competition Analysis, Type and Application 2028

Nowadays, scents have become an essential part of cleanliness. When consumers purchase household cleaning products, the pleasant fragrance of the product is a top priority for them. Therefore, various companies in the dryer sheets market have focused on research and development activities to develop innovative formulas for unique scents in dryer sheets. Dryer sheets provide fabrics a wearable softness and excellent fragrance. Dryer sheets are used as cationic surfactants that help in keeping the fabric soft and remove static cling by forming an electrically conductive chemical layer. Thus, they improve the longevity of the fabric. Dryer sheets are also placed in suitcases, bags, drawers, and washing machines when clothes are being washed, for a light and refreshing scent. Dryer sheets are used to remove dust from the surface of computer screens and window blinds.

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Reasons for Covering the Dryer Sheets Market Title

Nowadays, washing machines have become an essential household asset globally. Thus, companies in the laundry care market are introducing innovative solutions such as dryer sheets that are compatible with washing machines and offer brilliant laundry results. Prominent players in the dryer sheets market are also adopting new marketing strategies to influence the buying behavior of consumers. New dryer sheets with innovative features and marketing campaigns for consumer awareness are the factors influencing the growth of the dryer sheets market in the near future. Additionally, there is a growing demand for fabric softeners such as dryer sheets that provide a positive charge and thus, remove the static cling in the clothes and offer a fresh scent. Also, the growing demand for long-lasting dryer sheets with biodegradability features that enhance the lifespan of fabric, reduce the formation of wrinkles, and others are some other factors fueling the growth of the dryer sheets market during the forecast period. However, scented laundry care products such as dryer sheets, contain carcinogens that potentially increase the risk of cancer. This factor may hamper the growth of the dryer sheets market in the near future.

Global Dryer Sheets Market: Key Players

Some of the key players operating in the global dryer sheets market are S.C. Johnson & Son Inc., Reckitt Benckiser Group PLC, Colgate-Palmolive, Henkel AG & Co. KGaA, Seventh Generation, Inc., LG Household & Health Care Ltd., Malco Products, Inc., Woolzies Home Essentials, Inc., Procter & Gamble Co., Unilever PLC, Golrang Industrial Group, Church & Dwight Co., Inc., and others.

Increasing penetration of washing machines owing to the rise in working women, busy schedules, and the availability of easy financing options along with the growing demand for eco-friendly laundry care products such as dryer sheets, are some of the leading factors driving the growth of the global dryer sheets market. Moreover, the rapidly expanding FMCG industry, the rise in awareness about personal hygiene, and the expanding organized sales channel in the developing countries to cater to untapped market are expected to drive the dryer sheets market during the forecast period.

Global Dryer Sheets Market: Key Developments

  • In May 2018, Procter & Gamble Co. started manufacturing of Bounce dryer sheets at its new US$ 50 Mn plant in West Virginia to meet the growing consumer demand for dryer sheets.

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Opportunities for Global Dryer Sheets Market Participants

Marketers in the dryer sheets market are focusing on expanding their presence through various digital marketing campaigns and social media platforms in a more distinguishing manner to target the right audience attributed to the growth of the dryer sheets market in the near future. For instance, various dryer sheets companies have developed their online presence across websites and different social media platforms such as Facebook, YouTube, Google+, Instagram, and many more to connect directly to customers and conduct their business virtually. Moreover, innovative packaging plays an essential role in communicating with consumers, as colors, typefaces, images, and materials create an emotional connection with consumers. Innovative convenience features associated with packaging such as ease of opening, resealability, portability, and one-handed use are accelerating the growth of the dryer sheets market.

The study is a source of reliable data on:

  • Dryer Sheets Market segments and sub-segments
  • Dryer Sheets Market trends and dynamics
  • Supply and demand
  • Dryer Sheets Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)
Global Dryer Sheets: Market Segmentation

On the basis of the pack, the global dryer sheets market has been segmented as –

  • 10 to 50 Pieces
  • 50 to 100 Pieces
  • 100 to 150 Pieces
  • 150 and Above

On the basis of the price range, the global dryer sheets market has been segmented as –

  • Low
  • Medium
  • High

On the basis of sales channel, the global dryer sheets market has been segmented as –

  • Supermarkets/Hypermarkets
  • Convenience Stores
  • Online Stores
  • Independent Small Stores
  • Others

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Dryer Sheets Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Dryer Sheets Market shares and strategies of key players
  • Emerging niche segments and regional Dryer Sheets markets
  • An objective assessment of the trajectory of the Dryer Sheets market
  • Recommendations to companies for strengthening their foothold in the Dryer Sheets market

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Agricultural Equipment Market will expand at a steady CAGR of 4.8% : FMI

[280 Pages Report] The agriculture equipment market will expand at a steady CAGR of 4.8% between 2021 and 2031. The market valuation is set to reach US$ 65 Bn by 2021 end.

Owing to the increasing adoption of modern farm machinery, agriculture equipment sales are anticipated to reach around 6.7 Mn units by 2031.

The Agricultural Equipment Market witnessed a year-on-year (YOY) growth of 3.7% between 2020 and 2021, with top 5 market players collectively accounting for 44% market share in 2021.

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Agricultural Equipment Market Historic Sales Compared to 2021- 2031 Forecast Outlook

With increasing demand for automated and advanced technologies in the agricultural sector, the agricultural equipment market is set to register a CAGR of 4.8% between 2021 and 2031, surpassing a valuation of around US$ 65 Bn by 2021 end.

Rapidly growing population, urbanization, favorable government initiatives and soaring demand for food across the world are the prime factors driving the agricultural equipment market.

Transition from traditional farming techniques to modern agricultural machinery has thrown new life into agricultural equipment market. Agricultural equipment prove highly effective in saving time as well as in increasing the crop production.

According to Department of Economic and Social Affairs (United Nation), world population is expected to reach 9.7 billion in 2050. This in turn is expected to increase food demand by 70% through 2050. In order to sustain such enormous population, farmers are increasingly utilizing modern agricultural equipment.

Governments across the globe are encouraging farmers to adopt modern agricultural equipment by introducing low interest loan schemes and subsidies. As a result, the sales of agricultural equipment are soaring. Similarly, emergence of contract farming also impacts the demand for agricultural equipment.

New advancements in technologies ranging from robotics and drones to computer vision software have completely transformed modern agriculture. Introduction of electrical equipment along with integration of artificial intelligence (AI), global positioning systems (GPS) and internet of things (IoT) technology in farm equipment is likely to push the market growth further.

Advanced farming machinery such as spraying equipment, harvesters and crop processing equipment are being employed to enhance overall crop output and quality. With augmented reality (AR), farmers can visualize their entire farm in a single dashboard. It also enables new farmers to get familiar with agricultural equipment through immersive e-learning environments.

Adoption of driverless and electrified equipment’s such as tractors is gaining traction. The shifting consumer preference towards higher yield and cost-effective solutions is propelling the growth of the market.

With modern agriculture becoming highly mechanized, the market is set to bloom during the forecast period.

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Agricultural Equipment Market – Impact of Government Initiatives

Increasing focus of government authorities on developing farming sector is providing lucrative growth opportunities for agricultural equipment manufacturers. Various schemes and subsidies are being introduced to relieve farmers from economic burden and encourage farm mechanization. For instance, the U.S. Department of agriculture (USDA) offers various loans with favorable interest rates to help agricultural producers start or expand their farming operation, purchase equipment and storage structures.

Similarly various schemes implemented by governments and other private organizations across the world are positively impacting the demand for agricultural equipment.

How is Digital Leasing Affecting Sales of Agricultural Equipment?

With the advancement in agricultural technology, the cost of new equipment is skyrocketing. Small farmers cannot afford to purchase these high-cost machineries, although utilizing them has become need of the hour. As a result, farmers turn to leasing to keep up with technology.

Leasing is growing in popularity on account of the payment flexibility and technological adaptability. It is a hedge against inflation.

Companies are collaborating with application companies to market leasing business and encourage farmers to use farm equipment at affordable prices.

Digital leasing is attracting large number of farmers. Various mobile applications are being launched by government authorities to help farmers in choosing the best farm equipment rentals at low costs. For instance, in 2019 Union Minister for Agriculture and Farmers Welfare (INDIA) launched CHC Farm Machinery app for farmers to have easy access to high value and technical agricultural equipment at their doorstep.

Similarly, EM3 AgriServices, an agriculture Services Company launched a mobile app for farmers in the state of Madhya Pradesh. By using this app farmers can place orders for renting farm equipment and services through both online and offline payment methods.

The introduction of these digital mobile apps is bolstering the sales of agricultural equipment as more people are inclined to lease the advanced agricultural equipment for their farms.

Agricultural Equipment Market- Competitive Landscape

As per FMI’s analysis, top 5 players in the market which include

  • Deere & Company
  • AGCO Corp
  • CNH Industrial N.V.
  • Kubota Corporation
  • CLAAS KGaA GmbH

account for 44% of the total market share.

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Leading manufacturers are emphasizing on developing and launching advanced quality products. They are adopting various organic and inorganic growth strategies such as partnerships, mergers and acquisitions, advanced product development and collaborations to gain a competitive edge in the market. For instance

  • In August 2021, Deere and Company acquired Bear Flag Robotics, an agriculture technology startup based in Silicon Valley, for US$ 250 million. The deal accelerates the development and delivery of automation and autonomy on the farm and supports John Deer’s long-term strategy to create smarter machines with advanced technology.
  • In 2020, Kubota Corporation unveiled a “Dream Tractor” at a new product exhibition held in Kyoto City. Equipped with artificial intelligence (AI) and electrification technology, the “dream Tractor” is a completely autonomous tractor that represents the future of farming.
  • Similarly in December 2020, Raven Industries announced the launch of its first commercially-available Driverless Ag Technology: AutoCart.

Aerial Work Platform (AWP) Market will expand at a CAGR of 12.0% Between 2021 and 2031 :FMI Study

Increasing the number of urban and rural infrastructure projects to meet the needs of the increasing population around the world is generating endless growth avenues for the aerial work platforms market. According to Future Market Insights (FMI), the aerial work platform market is expected to surpass US$ 7.09 Bn by 2021. The demand for aerial work platforms is increasingly growing in the general infrastructure and manufacturing sectors. It has become popular between small & giant construction firms and maintenance agents.

In addition, massive government spending on infrastructure projects such as highways, rail, water conservation, and power generation is likely to create lucrative business opportunities over the next few years. However, low availability of qualified machine operators and massive costs incurred during the procurement of equipment are some of the factors that might impede the growth.

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Moreover, the rapid development for equipment from myriad industries has pushed manufacturers to sell technically fitted instruments such as electrification and hybridization technology, thus further widening the potential of development over the near future for the market for aerial work platforms. Scissor lifts are likely to remain highly preferred, accounting for over half of aerial work platform sold through 2031.

Key Takeaways of Aerial Work Platforms Market Study

  • Between 2021 and 2031, the aerial work platform market will expand at a CAGR of 12.0%
  • The U.S. will emerge as a highly lucrative pocket, accounting for over 90% of North America market in 2021, in terms of value
  • The U.K. will exhibit steady growth post slowdown in 2020. FMI projects it to record above 1.5% Y-o-Y growth in 2021
  • Rising construction spending will continue supporting demand from Germany and France
  • Investment in infrastructural development will boost growth in Japan, South Korea, and China

“While investment towards technological improvements remains a key focus, key market players are expected to mostly rely on rental businesses to expand their footprint. Besides this, some of the companies are incorporating sensors in aerial work platforms to help them detect potential obstruction averting risk of accidents on site,” said a lead analyst at FMI

Who is Winning?

Some of the leading companies operating in the aerial work platforms market are

  • Terex Corporation,   J C BAMFORD EXCAVATORS Ltd., Aichi Corporation, Haulotte Group, Linamar Corporation, Hunan Sinoboom Heavy Industry Co. Ltd., Manitou Group, Tadano Limited, Zhejiang Dingli Machinery Co., Ltd., OSHKOSH CORPORATION, MEC AERIAL WORK PLATFORMS, PALFINGER AG, IMER INTERNATIONAL SpA,    MANTALL HEAVY INDUSTRY CO., LTD, NOBLELIFT INTELLIGENT EQUIPMENTCO.,LTD.

These companies have been focusing on product launches besides strategic collaborations to gain competitive advantage.

For instance, in October 2019, Manitou unveiled five new boom lifts for the market in North America. These were diesel powered boom lifts and the models were ATJ 60, TJ 8, TJ 65+, TJ 80+, and TJ 65. With this the company expanded its MEWP line.

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Aerial Work Platforms Market by Category

Product Type

  • Boom Lifts
  • Scissor Lifts
  • Truck/Crawler Mounted Lifts
  • Push Around Aerial Work Platforms
  • Spider Lifts
  • Others

Platform Working Height

  • Below 10 Meters
  • 10 to 20 Meters
  • 20 to 30 Meters
  • Above 30 Meters

Fuel

  • Gas/ Diesel
  • Electric
  • Hybrid

End User

  • Industry
  • Construction
  • Mining
  • Transportation and Logistics
  • Manufacturing
  • Aerospace and Defence
  • Others (Utility, Government etc.)
  • Rental Providers

Region

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

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About the Report:

According to FMI, the market research report, offers an impartial analysis of the aerial work platform market which contains global industry analysis for 2016–2020 and market forecasts for the 2021–2031. The research report analyzes on global aerial work platform market through the different categories. The global market analysis of the aerial work platform provides pricing information through various life cycle studies, product life cycle, key market developments and innovations that are being introduced in the development of the aerial work platform and product acceptance in various end-use.

Global Refrigerated Display Cases Market to grow at 5.5% CAGR through 2031 : FMI

Increasing refrigerated display cases sales are set to enable the market’s valuation to reach US$ 9.5 Bn in 2021. Future Market Insights (FMI) in a study has predicted stable long-term growth for the market. The report offers analysis in 20+ high-growth markets, providing detailed insights on Refrigerated Display Cases Market growth will evolve in the next decade. The demand for refrigerated display case declined in 2020, due to the recessionary effects of COVID-19 on the food service sector activities. However, barring a few countries, the activities in food and beverage industry has resumed at a healthy rate post Q2 of the financial year.

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With the sector undergoing a recovery mode, the immediate as well as long-term growth outlook of refrigerated display cases the market remains positive. According to the report, the retail food and beverages sector will continue accounting for over 70% of sales of refrigerated display cases through the forecast period.

Introduction of high performance and connected refrigerated display cases with real time cloud access and maintenance will create lucrative growth opportunities. In the coming years, the market also will gain from the launch of low GWP refrigerants aimed at lowering environmental challenges.

Key Takeaways

  • Expansion of the supermarkets and hypermarkets will remain a chief growth driver, enabling the market rise at 5.5% CAGR between 2021 and 2031
  • Rising demand for ready-to-eat food is fuelling refrigerated display cases sales across supermarkets and hypermarkets in the U.S. The country is expected to account for over 70% of the North America market
  • Expansion of the food service sector will enable growth in Germany and France
  • The U.K. will emerge as a strong market, exhibiting 3.8% y-o-y growth in 2021 after a period of decelerating sales in 2020
  • While China currently holds dominance, Japan will emerge as the leading market in East Asia backed by rising demand for packaged food

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“Recent developments in food service and food retail sectors are creating lucrative prospects for the market. Consumers’ inclination towards add-on features like real time maintenance, remote access, and others is increasing, which is expected to give tailwinds to growth. In order to woo end users, manufacturers are therefore providing competitive price offering and advanced technologies,” says FMI analyst.

The implementation of stringent government norms and regulation on use of refrigerant for cooling is estimated to create high growth avenues for the refrigerated display case market. The increasing focus on eco-friendly and sustainable refrigerated display cases in developed and developing economies across the globe is creating growth opportunities.

Competitive Landscape

The refrigerated display cases market is fairly competitive, with key players accounting over two third of the overall market value share. These players are likely to invest in new technology developments and expansion of their networks in order to maintain their market share.

Some of the key players in the market are

  • Carrier Corporation,
  • Frigoglass SAIC,
  • Epta S.p.a. Refrigeration,
  • Dover Corporation,
  • Haier Group,
  • Arneg S.p.A,
  • Illinois Tool Works,
  • Daikin Industries, Ltd.,
  • Fagor Industrial, and others.

Refrigerated display case market is likely to grow at a moderate pace during 2021-2031. However, as it is a matured market, companies are expected to concentrate further on research and development activities. Collaboration, mergers and acquisition with regional companies will remain key strategies adopted by market players as they aim at expanding their footprint in regional market.

Refrigerated Display Cases Market

Type

  • Plug-In Refrigerated Display Cases
  • Semi Plug-In Refrigerated Display Cases
  • Remote Refrigerated Display Cases

Design

  • Vertical Refrigerated Display Cases
  • Horizontal Refrigerated Display Cases
  • Hybrid Refrigerated Display Cases

By End Use

  • Food Service Sector
    • Quick Service Restaurants
    • Bakeries
    • Hotels
    • Others
  • Retail Food & Beverage Sector
    • Fuel Station Stores
    • Hypermarkets
    • Supermarkets
    • Discount Stores

By Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • MEA

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Get Valuable Insights into Refrigerated Display Cases Market Report

Future Market Insights, in its new offering, provides an unbiased analysis of the global refrigerated display cases market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The refrigerated display cases market study uncovers convincing bits of knowledge based on type (plug-in, semi plug-in, and remote), design (vertical, horizontal, and hybrid), and end user (food service sector and retail food and beverages sector) across six key regions.