Market Research Blog – Page 1576 – New Product Development

Global Veterinary Vaccines Market Set to Reach USD 20.82 Billion by 2033 at a 6.2% of CAGR

The global veterinary vaccines market is poised for significant expansion, with its net worth projected to increase from USD 11.3 billion in 2023 to over USD 20.82 billion by 2033. This robust growth is expected to drive the market share of veterinary vaccines, registering a Compound Annual Growth Rate (CAGR) of 6.2% between 2023 and 2033.

Veterinary vaccines play a crucial role in animal health protection by controlling and preventing serious epidemic diseases. The anticipated growth in the veterinary vaccines market is largely attributed to the increasing adoption of pet animals worldwide, coupled with higher expenditure on pet care and the adoption of efficient immunizations.

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The remarkable development trajectory of the veterinary vaccine market underscores its crucial function in safeguarding animal health and welfare worldwide. Vaccinations against diseases become vital instruments for maintaining the health of animal populations as the demand for effective disease preventive and control strategies rises.

Veterinary Vaccines: A Cornerstone of Animal Health

In 2021, veterinary vaccines accounted for a commanding 91.3% share of the global veterinary biologics market. Attenuated live vaccines currently lead the segment, holding nearly a quarter of the market share. This segment offers a cost-effective and established method for immunizing animals against various diseases.

Collaborative Efforts Drive Innovation

The development of vaccines for zoonotic diseases holds immense potential, fostering collaboration between animal and human health sectors. This collaborative approach is expected to further propel the growth of the veterinary vaccines market.

Veterinary vaccinations have quickly emerged as the best means of preventative medicine, both to strengthen animals’ immune systems and shield them from deadly infections. With the help of these vaccinations, farmers and pet owners can enhance their animals’ health, cut down on medical expenses, and dramatically slow the spread of contagious diseases. A 20 BPS unit reduction is seen in the disparity between the BPS values seen within the global veterinary vaccines market in H1, 2022 – outlook over the H1, 2022 predicted period. Furthermore, the market shows a 13 Basis Point Share (BPS) drop in BPS growth in H1-2022 compared to H1-2021.

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Key Takeaways

The global veterinary vaccines market is gaining traction over the projection period due to the rising prevalence of zoonotic diseases, surging demand for animal products, and growing trend of pet adoption across the world. Among some of the key driving factors of the global veterinary vaccines market is the exponential growth of the animal healthcare products market.
The rapid expansion of the veterinary respiratory disease treatment market along with the veterinary pain management drugs market attributed to the increasing spending by pet owners on improving the health of their pets will create sales prospects for veterinary vaccines throughout the forecast period.
Massive popularity can be seen within the veterinary vaccines market for their potential to protect animal health along with public health as they effectively mimic naturally acquired immunity. Among the developing nations, veterinary vaccine sales are estimated to be high owing to the increasing pet ownership. These vaccines play a crucial role in assuring longevity and good health in animals.
The introduction of technologically advanced vaccinations, increasing livestock population, rising government investments and initiatives to tackle the burden of animal diseases, and expanding pet care market across developing regions are anticipated to create growth avenues within the global veterinary vaccines market during the forthcoming years.
The rapid surge in the animal healthcare market combined with the companion animal vaccines market is anticipated to generate lucrative prospects for the manufacturers of veterinary vaccines during the forecast period between 2022 and 2026.

Competitive Landscape

Key players profiled in the global veterinary vaccines market are focusing on continuous investments in research and development activities for the introduction of effective vaccines. Besides this, leading veterinary vaccine manufacturers are adopting various market strategies such as joint ventures, collaborations, partnership agreements, sales agreements, and capacity expansion to expand their global footprint.

More Insights into the Veterinary Vaccines Market

The U.S. is anticipated to be a dominant market for veterinary vaccines attributing to the surging frequency of drug approvals, advances in veterinary science, rise in pet adoption rate, and the emergence of new veterinary vaccine market trends.

China is yet another country emerging as an opportunistic market for veterinary vaccines, combined by collaborative initiatives of governments and private firms in order to promote better animal healthcare with advanced veterinary medical devices.

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Key Companies Profiled:

Boehringer Ingelheim GmbH
Zoetis Inc.
Elanco Animal Health
Merck & Co., Inc.
Bayer AG
Virbac Group
Ceva Santé Animale
Phibro Animal Health Corporation
Others

Veterinary Vaccines Market Segmentation by Category:

By Product:

Attenuated Live Vaccines
Conjugate Vaccines
Inactivated Vaccines
Subunit Vaccines
Toxoid Vaccines
DNA Vaccines
Recombinant Vaccines

By Disease:

Anaplasmosis
Canine Parvovirus
Foot & Mouth Disease
New Castle Disease
Distemper Disease
Influenza
Porcine Reproductive & Respiratory Syndrome (PRRS)
Others

By Distribution Channel:

Veterinary Clinics
Veterinary Hospitals
Veterinary Research Institutes
Retail Pharmacies

By Species:

Companion Animals
- Canine
- Avian
- Feline
Livestock Animals
- Aquatic
- Bovine
- Porcine
- Ovine/Caprine
- Poultry
Equine

By Region:

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

About Future Market Insights (FMI)

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

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Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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FMI Analysis Affirms Global Chemical Dosing Equipment Market Revenue to Exceed USD 3,154.4 Million by 2034, Driving 5.2% CAGR Growth

According to a Future Market Insights (FMI), the global chemical dosing equipment market is estimated to be valued at USD 1900.0 Million in 2024. Global chemical dosing equipment sales will likely increase at 5.2% CAGR during the forecast period, totaling USD 3154.4 Million by 2034.

Dosing pumps are expected to remain a highly sought-after product in the market. This can be attributed to their rising usage for accurately metering and delivering the desired chemical solutions. The target segment is poised to grow at 5.4% CAGR.

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Several factors are anticipated to stimulate growth of the chemical dosing industry during the assessment period. These include:

Rapid industrialization, especially across developing nations.
Growing usage of chemical dosing equipment across diverse industries, including food & beverages, water treatment, and oil & gas.
Increasing demand for clean and potable water globally.
Implementation of stringent environmental regulations to control pollution and ensure environmental sustainability.
Advancements in chemical dosing technologies.

The rising importance of chemical dosing equipment in water treatment procedures is expected to play a key role in boosting the global market. These systems are widely used in water treatment processes to precisely and accurately add coagulants, disinfectants, and other chemicals required for purification.

As water treatment facilities seek efficient and sustainable solutions, demand for chemical dosing equipment is set to rise steadily. This growth is fueled by a rising emphasis on clean water resources and environmental sustainability.

Growing adoption of automatic dosing equipment across industries like pharmaceuticals and oil& gas is expected to foster market growth. These automated systems are gaining wider popularity as they eliminate the need for manual intervention by incorporating sensors, control systems, and programmable features.

East Asia, spearheaded by China and Japan, is expected to dominate the global chemical dosing equipment industry through 2034. This can be attributed to the rapid penetration of industrialization, expanding water and wastewater treatment infrastructure, and favorable government support.

Key Takeaways from the Report:

The global chemical dosing equipment industry is set to total USD 3,154.4 Million by 2034.
Based on type, the pumps segment is anticipated to grow at 5.9% CAGR through 2034.
By application, the water treatment segment is poised to record a CAGR of 5.4% from 2024 to 2034.
Chemical dosing equipment demand in India will likely rise at 5.7% CAGR through 2034.
China is projected to register a CAGR of 4.1% between 2024 and 2034.

“The global chemical dosing industry is predicted to expand around 1.7X through 2034. This can be attributed to rising demand for clean water and increasing usage of chemical dosing equipment across pharmaceutical, oil & gas, food & beverage, and other sectors.” – opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).

Who is Winning?

The chemical dosing equipment is fairly consolidated, with top players accounting for about 35% to 45% of the share.

Top players are constantly developing more efficient and user-friendly chemical dosing equipment to boost their sales. They also adopt strategies such as partnerships, acquisitions, distribution agreements, mergers, and facility expansions to strengthen their footprint.

Recent Development:

In March 2021, Siltbuster, a prominent water treatment specialist, introduced an integrated chemical dosing system (iCDS).

Key Companies Profiled in Report:

Verito Engineering Private Limited.
Pure Aqua, Inc.
Dynamic Equipments Pvt. Ltd.
Verito Engineering Private Limited.
MIRANDA AUTOMATION PVT. LTD.
Unique Dosing System Pvt. Ltd.
Shapotools
Nishu Enterprises
Accepta Water Treatment
Grundfos Pumps India Private Ltd.
Eldex Corporation
GemmeCotti Srl
Flow Line Pumps And Engineers
Mini Max Dosing Pumps.
Metapow Engineers Pvt. Ltd

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In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the chemical dosing equipment market, providing historical data from 2019 to 2023 and forecast statistics for the period 2024 to 2034. To understand the global market potential, growth, and scope, the market is segmented based on type, technology, application, and region.

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Chemical Dosing Equipment Market Segmentation Analysis:

By Type:

Pumps
Tanks and Containers
Valve
Meters

By Technology:

Automatic Dosing Equipment
Semi-automatic Dosing Equipment

By Application:

Water Treatment
Chemical Production
Oil and Gas
Food and Beverage
Pharmaceuticals
Others

By Region:

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

Author:

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

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

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

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Monitoring Tool Market Poised for Explosive Growth: Projected to Reach US$ 170 Billion by 2034

The monitoring tool market foresees its current market valuation at US$ 25.1 billion by 2024 and is predominantly considered to surge at a valuation of US$ 170 Billion by 2034, projected at a CAGR of 21.1%.

The rapid digital transformation taking place across businesses pushes the monitoring tool market in the right direction. Organizations have started adopting cloud computing, IoT devices, and other emerging technologies, and the need for comprehensive monitoring solutions has become supreme to ensure the reliability and efficiency of these digital ecosystems.

Monitoring tools provide visibility into the performance and health of IT infrastructure, sanctioning organizations to optimize their utilization of resources, detection of anomalies, and mitigate potential risks. The augmenting emphasis on cybersecurity and regulatory compliance further fuels the demand for monitoring tools. With the boom in cyber threats and data breaches, organizations invest in advanced monitoring solutions for detecting and responding to security incidents in real-time.

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Monitoring tools thus, help organizations to monitor network traffic, detect unauthorized access, and identify security vulnerabilities, by enhancing comprehensive cybersecurity posture and ensuring compliance with regulatory requirements.

The shift towards DevOps and agile methodologies reshapes the monitoring tool market by focusing on integrating monitoring into the software development lifecycle. Monitoring tools are progressively being integrated into CI/CD pipelines for providing continuous feedback on application performance and quality, enabling faster delivery of software updates and improvements.

Key Takeaways from the Monitoring Tool Market Report:

By component type, the software segment is registered to rise at 20.8% CAGR by 2034.
The United Kingdom is projected to register at a CAGR of 21.8% by 2034.
China experiences significant growth, projected at a CAGR of 21.7% by 2034.
Based on deployment, the cloud segment is expected to expand at 20.6% CAGR by 2034.

“In light of our recent market research study, the Monitoring Tool Market exhibits robust growth potential driven by the escalating demand for real-time monitoring solutions across various industries. Our analysis underscores the increasing adoption of advanced monitoring tools by enterprises to enhance operational efficiency and mitigate risks, positioning the market for sustained expansion in the foreseeable future.” – says Sudip Saha, Managing Director and Co-Founder at Future Market Insights.

Competitive Landscape:

The diverse competitive landscape of the monitoring tool market is eclectic, featuring a mix of established players and emerging startups. Key competitors compete based on product features, reliability, pricing, and customer support.

Some of the key developments are:

In March 2023, the customers of Cisco and Lightspin upgraded their cloud environments with end-to-end security and observability from construction to runtime with a common goal.
In February 2022, Netscout announced the release of the nGeniusEDGE Server, giving customers the visibility and insights, they needed to ensure a high-quality end-user experience regardless of where employees work.

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More Valuable Insights Available:

Future Market Insights offers an unbiased global monitoring tool market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034.

To understand market opportunities, the monitoring tool market is segmented based on Component (Software, Services), Deployment (Cloud, On-premises), Type [Infrastructure Monitoring Tools (Network Monitoring, Storage Monitoring, Server Monitoring, Cloud Infrastructure Monitoring, Others), Application Performance Monitoring Tools (Database Monitoring, Web Application Monitoring, Mobile Application Monitoring, Code Level Monitoring, Others), Security Monitoring Tools (Intrusion Detection and Prevention Systems (IDPS), Log Monitoring and Analysis, Vulnerability Assessment, and Management, Others), End-user Experience Monitoring Tools (Synthetic Monitoring, Real User Monitoring, Others)], Vertical (BFSI, Retail & E-commerce, Healthcare, IT & Telecom, Media & Entertainment, Manufacturing, Others) and Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and the Middle East and Africa).

Monitoring Tool Market Segmentation:

By Component:

Software
Services

By Deployment:

Cloud
On-premises

By Type:

Infrastructure Monitoring Tools
- Network Monitoring
- Storage Monitoring
- Server Monitoring
- Cloud Infrastructure Monitoring
- Others
Application Performance Monitoring Tools
- Database Monitoring
- Web Application Monitoring
- Mobile Application Monitoring
- Code Level Monitoring
- Others
Security Monitoring Tools
- Intrusion Detection and Prevention Systems (IDPS)
- Log Monitoring and Analysis
- Vulnerability Assessment and Management
- Others
End User Experience Monitoring Tools
- Synthetic Monitoring
- Real User Monitoring
- Others

By Vertical:

BFSI
Retail & E-commerce
Healthcare
IT & Telecom
Media & Entertainment
Manufacturing
Others

By Region:

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

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About Future Market Insights (FMI)

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Fertility and Pregnancy Rapid Test Kit Market to Reach USD 1,609.1 Million by 2033 at a 5% of CAGR

The global fertility and pregnancy rapid test kit market is set for robust growth, with the market size valued at USD 948.3 million in 2022. According to industry projections, the market is expected to reach a valuation of USD 990.4 million by the end of 2023. Over the forecast period from 2023 to 2033, the market is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 5%, achieving a significant valuation of USD 1,609.1 million by 2033.

This growth is driven by increasing awareness and demand for convenient and reliable home testing solutions for fertility and pregnancy. The rapid test kits offer a user-friendly and efficient way for individuals to monitor their reproductive health, contributing to their widespread adoption.

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Due to shifts in healthcare choices and increased awareness worldwide, the market for fertility and pregnancy test kits is expanding gradually but steadily. These kits give consumers the privacy, simplicity of use, and clarity they need to make informed decisions about their reproductive health.

Key Takeaways from the Market Analysis

The fertility and pregnancy rapid test kit market developed at a 4% CAGR throughout the historical period.
The market in the United States is expected to increase at a 5.2% CAGR over the forecast period.
From 2023 to 2033, the fertility and pregnancy rapid test kit market in China is set to garner a 6% CAGR.
The market in France is expected to increase at a 4.2% CAGR from 2023 to 2033.
The fertility and pregnancy rapid test kit market in Japan is predicted to flourish at a 4.7% CAGR over the projected period.
The market in the United Kingdom is forecast to advance at a 4.9% CAGR over the projected period.
The pregnancy rapid test kit segment is anticipated to capture a CAGR of 4.5% through 2033.
The hCG urine test segment is predicted to secure a CAGR of 6.2% from 2023 to 2033.

“The availability of at-home self-test kits, successful early pregnancy detection, and the affordability of fertility and pregnancy rapid test kit are additional benefits contributing to the overall growth of the market,”- remarks an FMI analyst.

Competitive Landscape

Manufacturers are evolving their product portfolios of fertility and pregnancy rapid test kit by launching new products. This covers various test sensitivity levels, formats (e.g., blood, digital, urine-based), and packaging choices (e.g., single-use kits, multi-pack alternatives).

Manufacturers may increase revenue and sales by catering to various consumer requirements and tastes through a wide range of products.

Prominent players in the fertility and pregnancy rapid test kit market are

Alere Inc.
Quidel Corporation
Prestige Brands Holdings, Inc.
Church & Dwight Co., Inc.
bioMérieux SA
Geratherm Medical AG
Abbott Laboratories
Procter & Gamble Co.
DCC Plc.
Swiss Precision Diagnostics GmbH

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Key Developments

In 2022, to help individuals throughout their whole reproductive journey, Kindbody launched the Kind at Home fertility kits, its consumer goods business. Their first offering is an easy-to-use at-home fertility hormone test for both men and women.

With the Kind at Home fertility test kit, customers may conveniently obtain detailed information regarding their fertility status from the comfort of their own homes. Kindbody physicians make individualized suggestions that can be brought to the online or in-person clinic consultation with the patients.

PregaScreen is a home pregnancy test kit that was introduced by Mylab Discovery Solutions. With this, the business has officially entered the female healthcare market. The kit is available for purchase over the counter at neighborhood pharmacies around the nation. It yields accurate findings in a matter of minutes. Pregnancy stick devices and droppers are included with every package.
In 2023, Proov and 2San, a reputable global leader in self-diagnostic testing, teamed to provide the unique, simple-to-use, at-home fertility tests of Proove in a few Midwest Hy-Vee locations. With its four products—Reserve (follicle stimulating hormone), Predict (luteinizing hormone), Confirm (PdG), and Check (human chorionic gonadotropin)—their range of tests provides a thorough evaluation of fertility at an affordable price.

Segmentation Analysis of the Fertility and Pregnancy Rapid Test Kit Market:

By Product:

Pregnancy Rapid Tests
- Line Indicator devices
  - Strips/Dip Sticks
  - Mid-Stream
  - Cassettes
- Digital
Fertility Rapid Tests
- Line Indicator
- Digital

By Test Type:

LH Urine
FSH Urine
hCG Blood
hCG Urine

By Distribution channel:

Pharmacy
Drugstore
Gynecology/Fertility Clinics
e-commerce
Hypermarkets & Supermarkets

By Region:

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

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Global Curing Ovens Market Size Predicted to Attain a Valuation of USD 6871.90 Million by 2034, Growing at 4.8% CAGR | FMI Analysis

According to FMI study, global curing ovens market is expected to exceed valuation of USD 4332.10 million in 2024. The curing oven sales are proficient to acquire the worth and hit USD 6871.90 million by 2034 as these trends gain momentum and become prevalent. This reflects a moderate CAGR of 4.80% from 2024 to 2034.

The global curing oven market sustains remarkable growth during the forecast period. The market is thrust by diverse factors, like the boosting adoption of curing ovens for varied usages. The escalating demand for supreme-quality and energy-saving thermal processing appliances bolsters the curing oven market growth.

The curing and drying oven market experienced considerable growth during the forecast period, ushered by the amplifying demand from the automotive, aerospace, and electronics industries. Curing ovens are adopted for the thermal processing of coatings to augment their attributes. The market surges because of the developing demand for supreme-quality curing procedures, and developments in technology and automation.

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The strict government rules concerning emission control and safety benchmarks accelerate the curing oven market growth. With enduring improvements in curing oven designs and the adoption of eco-friendly solutions, the market is slated for an optimistic outlook.

Regional Outlook:

Technological innovations like IoT integration and smart production plans thrive the growth of the curing oven market in North America.
The amplifying adoption of progressive technologies and automation solutions surges the demand for curing ovens in the European fabricating landscape.
Government schemes encourage eco-friendly manufacturing activities aid the growth of the curing and drying oven market in Asia Pacific.

“The curing oven market endures its growth avenue, boosted by augmenting demand in industries like electronics, automotive, and aerospace. Technical innovations and rigid quality principles are key catalysts transforming the growth of the curing and drying oven market during the forecast period.”, remarks an analyst at FMI.

Key Takeaways:

The batch curing oven segment in the oven type category to attain a share of 58.30% in 2024.
In the industry category, the industrial manufacturing segment to garner a share of 21.30% in 2024.
India curing and drying oven market infers a CAGR of 5.10% through 2034.
France curing oven industry indicates a CAGR of 4.70% through 2034.
Spain sales of curing ovens indicate a CAGR of 4.50% through 2034.
Through 2034, Canada drying and curing oven market show escalation at a CAGR of 4.30%.
Italy curing oven industry imply augmentation at a CAGR of 4.30% between 2024 and 2034.
From 2024 to 2034, South Korea curing and drying oven market equates at a CAGR of 4.10%.
The United Kingdom curing oven market reflects expansion between 2024 and 2034 at a CAGR of 4.10%.
Japan curing and drying oven market implies expansion at a CAGR of 3.90% through 2034.
Germany drying and curing oven industry indicates a CAGR of 3.90% through 2034.
Between 2024 and 2034, the United States curing oven industry imply growth at a CAGR of 3.70%.
China curing and drying oven market exhibit upsurge at CAGR of 3.30% between 2024 and 2034.
Through 2034, China curing and drying oven industry show evolution at a CAGR of 3.30%.

Competitive Landscape:

The curing oven manufacturers aid in the growth of the market by constantly investing in research and development to enhance product efficacy, partnering with other vendors to develop their global footprint, and venturing into promoting and advertising to elevate product awareness. By presenting competitive costing and exquisite customer service, the curing oven providers lure more customers and broaden their market share.

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Key Players:

JPW Design and Manufacturing
Catalytic Industrial Systems
Sailham
JLS Redditch Ltd
KE Hui Feiyan Shebei
Thermal Product Solutions (TPS)
LEWCO
WISCONSIN OVEN
DIMA Group
Steelman Industries
Armature Coil Equipment
Reputation Sincere DianZi
International Thermal Systems
Changlu Group
Heller Industries
Despatch Industries
ONCE
Genlab Limited
Spooner Industries
HENGXINDA Painting

Market Segmentation:

By Oven Type:

Batch Curing Ovens
Continuous Curing Ovens

By Heating Source:

Electric
Gas
Infrared
Others

By Industry:

Automotive
Aerospace
Electronics
Building and Construction
Furniture and Woodworking
Healthcare and Medical Devices
Industrial Manufacturing
Others

By Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

Author:

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

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Modular Substation Market to Reach $48 Billion by 2034, Growing at 8.2% CAGR | Future Market Insights

The global modular substation market is estimated to find its progressive path at a promising CAGR of 8.2% through 2034. It will assist the subject market to reach US$ 48 Billion at the end of the forecasted period. Also, the market size of the subject market is predicted to be US$ 21.7 billion after 2024.

Current power distribution networks and power plants have become obsolete. Also, the current infrastructure is aging and needs to be replaced. This creates lucrative opportunities for the subject market.

Growing technological infrastructure aids the need for the efficient production of power distributors. Furthermore, the efficiency of output delivered by these power stations also enhances, driving the subject market.

Rapid urbanization is another important market driver. The growing population needs relevant infrastructure. This infrastructure requires power and energy, which can be fulfilled with the help of modular substations. Hence, this drives the market.

Governments of different countries have been investing in local projects. This creates lucrative chances for local marketers, producing better opportunities for market expansion. Hence, this is another market driver.

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Key Takeaways from the Modular Substation Market Report:

The CAGR of the global modular substation market is expected to fall to 8.2% in the forecasted period, which was 10.4% in the historical period.
11kV-33kV is the largest market segment of the subject market in terms of its advancement. The segment propels at a CAGR of 8%.
The air insulation segment of the market propels at a CAGR of 7.7%, the highest among all other segments of the top insulation type category.
The South Korean market registers the highest CAGR through 2034. It will propel at a CAGR of 10.3%.

“The Modular Substation Market continues to exhibit robust growth, driven by increasing demand for reliable power distribution infrastructure worldwide. With an escalating emphasis on energy efficiency and grid reliability, modular substations offer cost-effective and flexible solutions, positioning the market for significant expansion in the coming years.” – says Sudip Saha, Managing Director and Co-Founder at Future Market Insights.

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Competitive Landscape:

In the case of market competition, various marketers are actively participating to clutter the market. Due to the strong market presence of large businesses, room for substantial market share acquisition is reduced for new entrants. Hence, they must differentiate their products and services to gain market space. The existing players use various strategic initiatives to expand. Some initiatives include alliances, mergers and acquisitions, collaborations, partnerships, etc.

The following are some of the key developments occurring in the global modular substation market:-

In September 2022, ABB acquired PowerTech Converter. This strategic move helped the organization in expanding its traction division market. It also helped the business bolster its market position.
In March 2024, Eaton launched a next-generation fuel tank isolation valve. It will be a vital component for hybrid EVs. The product innovation helps the organization to enhance its product portfolio.

More Valuable Insights Available:

Future Market Insights offers an unbiased global modular substation market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034.

The subject market is segmented by Voltage (11kV-33kV, 33kV-400kV, and above 400kV), Insulation Type (Air, Gas, By Type, Skid/Trailer Mounted, and Fixed), and Application (Power Utilities, Commercial, and Industrial).

Modular Substation Market Segmentation:

By Voltage:

11kV-33kV
33kV-400kV
Above 400kV

By Insulation Type:

By Type:

Skid/Trailer Mounted
Fixed

By Application:

Power Utilities
Commercial
Industrial

By Region:

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

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FMI Analysis States Global Enclosed Motor Starter Market Size Anticipated to Exceed USD 2,865.9 Million by 2034, Growing at 4.63% CAGR

The enclosed motor starter market value is projected to reach USD 1,822.7 Million in 2024, and by 2034, it is expected to grow to USD 2,865.9 Million. The rise in industrial automation has contributed to innovations in the enclosed motor starter market with a 4.63% CAGR through 2034, resulting in more efficient motor control. These starters are essential components in automated manufacturing systems.

The increasing demand for energy-efficient solutions in the manufacturing and industrial sectors has led to the growth of this market. The increasing adoption of renewable energy sources like solar and wind has created significant demand for motor starters in these systems. The growth of the electric vehicle market is one of the key factors accounting for market growth, as these starters are an integral part of these technologies.

While the enclosed motor starter market is witnessing growth and development, several factors are hindering its growth, such as the availability of low-cost alternatives, increasing competition, and the high cost of installation and maintenance. The lack of awareness about the benefits of enclosed motor starters among small and medium-sized enterprises is also one of the major factors hindering market growth.

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The safety feature of a combination starter in an enclosed motor starter is another factor driving its popularity, as they are designed to protect against overloads, short circuits, and other electrical damage, ensuring the safety of the equipment and operators.

With the rising demand for starters with ease of maintenance and versatility, combination starters are expected to capture the market. Enclosed motor starters are designed to withstand harsh industrial environments, such as extreme temperatures, dust, and humidity, ensuring long-term reliability and durability. This ability makes them important in industries like manufacturing, where downtime can result in significant financial losses.

Key Takeaways from the Market Study:

Combination starters are set to hold an enclosed motor starter market share of 70% in 2024.
The industrial sector is the most prominent player in enclosed motor starters, with a market share of 50% for 2024.
The market in India is projected to inflate at a CAGR of 80% through 2034.
The market in Italy is predicted to rise at a 50% CAGR through 2034.
The market in Spain is anticipated to develop at a CAGR of 30% through 2034.
The market in Australia is estimated to rise at a 30% CAGR through 2034.
The market in South Korea has the potential to increase by a 20% CAGR through 2034.

“Market growth is set to be driven by the increasing demand for energy-efficient solutions in manufacturing and industrial sectors. Combination starters are expected to capture the market due to their ease of maintenance and versatility”, – opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).

Competitive Landscape:

The enclosed motor starter market has several key players, including ABB Ltd., Eaton Corporation, Siemens AG, Schneider Electric SE, General Electric Company, Emerson Electric Co., Rockwell Automation Inc., WEG SA, and Toshiba International Corporation. Manufacturers are investing heavily in research and development to improve their products’ performance, reliability, and energy efficiency. Some key companies are also focusing on wireless and smart motor control technologies to integrate with IoT systems for remote monitoring and control.

Recent Developments:

Danfoss launched the VLT Soft Starter MCD 600 in September 2021, which provides advanced control and protection for fixed-speed applications in a compact enclosure.
In May 2016, Carlo Gavazzi introduced the RSWT series, featuring self-optimizing soft starters with innovative control algorithms for water pumps up to 75Hp, reducing vibrations and inrush current.

Key Players in the Industry:

SIEMENS
EATON
Schneider Electric
Rockwell Automation
ABB
Sprecher + Schuh
LEVITON
Danfoss Drives
MCI Controls Solutions
WEG
Franklin Electric
Allied Power and Control
C3controls
Springer controls

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Enclosed Motor Starter Market Segmentation Analysis:

By Product Type:

Combination Starters
Non Combination Starters

By Starter Size:

Size 0
Size 1
Size 2
Size 3
Size 4
Size 5

By Application:

Industrial
Mining
Agriculture
Chemical
Waste Water Treatment
Commercial
Others

By Region:

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

Author:

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

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

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FMI Analysis States Global Casing Pipe Market Share Anticipated to Surge Beyond USD 22,738.90 Million by 2034, Driven by 5.8% CAGR

The casing pipe market value is expected to rise from USD 12,939.30 Million in 2024 to USD 22,738.90 Million by 2034. This market is analyzed to expand at a CAGR of 5.80% over the next decade.

Growing demand for structural steel pipes and tubes in multinational markets is spurring market growth. The market value is further expected to improve owing to hefty government expenditure on infrastructure apart from public and private capex.

Increasing demand for casing pipes from the energy industries to facilitate exploration and production activities is further enhancing the market growth. In line with this, the surging adoption of unconventional oil and gas extraction methods is anticipated to promote casing pipe sales.

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Key Takeaways from the Casing Pipe Market Report:

Based on material type, the steel casing pipes are a leading segment, acquiring a share of 50% in 2024.
By end use, the oil wells segment holds a 30% value share in 2024.
The casing pipe market in United States is expected to expand at a 40% CAGR through the forecast period.
Germany is estimated to grow at a 80% CAGR over the upcoming period.
In China, the casing pipe industry is anticipated to move forward at a 2% CAGR.

“Key players are expected to allocate funds for research and development activities to provide breakthrough technologies that help tackle the challenges of the energy industry,” – opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).

Strategies Adopted by Market Players to Stay Buoyant in the Competitive Marketspace:

Key players are delivering customized solutions, designed uniquely to the customer’s specifications. Additionally, they are focusing on responsive customer service to offer prompt technical assistance and support as and when it is required.

Companies in the casing pipe market are offering highly competitive pricing structures without sacrificing the product’s reliability and quality. This approach has resulted in partnerships with leading industry players searching for top-notch casing pipes at competitive prices.

Players are further investing in research and development activities to develop breakthrough technologies and enhance product performance.

Casing Pipe Manufacturers Insights:

Northwest Pipe Company

Northwest Pipe Company, based in the United States, is a prominent manufacturer of engineered welded steel pipes. The company provides high-quality products that meet extremely challenging and exacting specifications. The manufacturing units of this company are strategically positioned across North America to meet the increasing demand for water and wastewater infrastructure.

Tenaris S.A.

Tenaris S.A., headquartered in Luxembourg, is a manufacturer and supplier of steel pipes and allied services. The company develops products mainly for the energy industry and leads in quality, safety, and innovation.

Vallourec

Vallourec, headquartered in France, is a multi-national manufacturing company, that specializes in expandable tubular technology, hot rolled seamless steel tubes, stainless steel, and automotive parts. These products are mainly developed to serve the automotive, construction, energy, and mechanical industries.

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Key Players Operating in the Casing Pipe Industry:

EVRAZ
Hannon Hydraulics
Offshore Energy Services Inc.
Titan Tubulars & Well Service
Nippon Steel Corporation
Desco International
Essar Steel
Mid-Continent Group
Edgen Murray
TMK
Radius Systems Ltd.
National Pipes & Plastics
Georg Fischer Ltd.
REHAU
Uponor
Astral Pipes
Others

Casing Pipe Market Segmentation Analysis:

By Material Type:

Steel
Plastic
Fiberglass
Composite

By Casing Type:

Conventional Casing (Non-Slotted)
Slotted Casing
Perforated Casing
Screen Casing

By End Use:

Oil Wells
Gas Wells
Geothermal Wells

By Different Regional Markets are as follows:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

Author:

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

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FMI Projection Affirms Global Elevator Control Panelboard Market Share to Reach USD 15.83 Billion Mark by 2034, Growing at 6.1% CAGR

According to Future Market Insights (FMI), the global elevator control panelboard market is expected to reach USD 15.83 billion by 2034. This growth trajectory is mostly recognized by the surging demand within the residential end-use industry, which is undergoing an extraordinary surge in activity and development. Over the forecast period, global demand for elevator control panelboards is projected to surge at a CAGR of 6.1%.

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The residential sector is a key driver behind the escalating demand for elevator control panelboards. As the population continues to accelerate worldwide, mainly in developing economies, the need for high-rise residential buildings and cooperatives is rising.

With limited space in heavily populated urban areas, vertical expansion through towers and multi-story buildings becomes imperative. Accordingly, the installation of elevators becomes essential to ensure convenient access and mobility across these constructions.

Elevator control panelboards play a crucial role in the efficient process and management of elevator systems in domestic developments. These panelboards serve as the courage center, controlling various aspects of elevator functionality, including operation, observation, and safety procedures.

With technological improvements, modern elevator control panelboards have sophisticated features such as remote monitoring, analytical maintenance facilities, and integration with smart building systems. These creations not only enhance the performance of elevators but also contribute to improved energy efficiency and operational reliability.

Growing emphasis on safety and regulatory compliance in the construction industry additionally underlines the significance of elevator control panelboards. Manufacturers are progressively focused on developing panelboards that adhere to stringent safety standards and incorporate advanced safety mechanisms to moderate risks related to elevator operations.

Key Takeaways from the Report

The global elevator control panelboard market is projected to thrive at 6.1% CAGR through 2034.
By control panel type, the machine roomless control panel segment is expected to showcase a CAGR of 4.3% during the forecast period.
By end-use, the residential segment is expected to witness a CAGR of 4.7% during the forecast period.
North America accounted for a significant share of about 23.0% in 2023.
India is anticipated to surge at a CAGR of 6.8% by 2034.
China is projected to attain a CAGR of 6.4% by 2034.

“The elevator control panelboard industry prioritizes safety. Leading manufacturers are set to develop advanced control panelboards with real-time monitoring, emergency communication systems, and redundant fail-safe mechanisms. Customized solutions are increasingly sought, with modular elevator control panelboard designs gaining popularity for flexibility in configuration and installation.” – says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.).

Competitive Landscape

The global elevator control panelboard market is fragmented, with leading players accounting for 30% to 35% share. Hitachi Ltd, Hyundai Elevator Co., Ltd., Toshiba Elevators and Building Systems, Mitsubishi Electric, and Thames Valley Controls are the leading manufacturers and suppliers of elevator control panelboards listed in the report.

Key elevator control panelboard companies are investing in continuous research to produce new products and increase their capacity to meet end-user demand. They are also inclined toward adopting strategies to strengthen their footprint, including acquisitions, partnerships, mergers, and facility expansions.

Recent Developments-

On July 4, 2024, Jardine Schindler launched “kNOw Touch Contactless Elevator Control Panel”, the Jury Award Winner of HKPC’s Geneva Gold Medal, signing Technology Licensing Agreements with Jardine Schindler to promote wider adoption.
September 13, 2022- Hitachi, Ltd and Hitachi Building Systems Co. Ltd. announced that they developed a touchless operating panel and an elevator without physical floor buttons that allow users to experience a new sensation.

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Key Players:

Hitachi Ltd.
Hyundai Elevator Co., Ltd.
Toshiba Elevators and Building Systems
Mitsubishi Electric
Thames Valley Controls
Nidec MCE
Honeywell International Inc.
SICK AG
Otis Elevators
BSB Asanor Limited
Texas Instruments
Eaton Electronics
TAL Engineering
Gefram Inc.
Arkel Inc.

Market Segmentation:

By Control Panel Type:

Machine Room Control Panel
Machine Roomless Control Panel
Hydraulic Elevator Control Panel

By Control System:

Single Automatic Operation
Selective Collective Operation
Group Automatic Operation

By Controller Type:

Relay-based Controller
Microprocessor-based Controller
PLC-based Controller

By Elevator Type:

Passenger Elevators
Freight Elevators
Service Elevators
Others

By End-use Type:

Residential
Commercial
Institutional
Industrial

By Region:

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

Author:

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

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FMI States Global Low Voltage Protection and Control Market Size to Exceed USD 32.7 Billion by 2034, Growing at 6.1% CAGR

The low voltage protection and control market is anticipated to be valued at USD 18 Billion by 2024. The market valuation is expected to be USD 32.7 Billion by 2034, projected at a CAGR of 6.1%.

The expansion in the market for low voltage protection and control is rising due to several causes. The surge in the need for dependable and effective electrical infrastructure in sectors like industry, construction, and utilities is one of the main drivers.

Advancements in protection and control solutions are becoming increasingly necessary for protecting low voltage electrical systems from faults, overloads, and other hazards as the importance of safety and operational reliability grows.

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With the rise in drivers, the market also faces some dangers and difficulties. The price fluctuation of raw materials poses a serious risk, mainly for components like copper and aluminum needed to make control and protection systems. Variations in the cost of materials can extensively affect the profit margins and product prices of the producers.

The market also introduces some market opportunities. Technological developments like digitization, integrating the Internet of Things, and smart grid projects present chances to improve the performance and efficiency of control and protection systems.

Boosting the need for creative solutions leads to the optimization of power usage, thus lessening its environmental effect due to the increased focus on sustainability and energy efficiency.

Key Takeaways from the Market Study:

Under product type, the protection equipment registered to expand at 8% CAGR by 2034.
Japan is estimated to register at a CAGR of 5% by 2034.
South Korea registers significant growth, projected at a CAGR of 5% by 2034.
Based on application, the residential segment is anticipated to expand at 5% CAGR by 2034.

“The boom in the intensity on safety and reliability in electrical infrastructure across industries is one significant driver for the low voltage protection and control market,” – opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).

Competitive Landscape:

Key competitors in the low voltage protection and control market provide various control and protection solutions mainly needed for various commercial and industrial uses.

Strong competition thus encourages product invention and quality enhancement by guaranteeing consumers access to dependable and effective goods. Some of the key developments are:

In December 2021, Mitsubishi Electric Corporation was recognized by R&D World with a 2021 R&D 100 Award for its world-class AE V Series C-class low-voltage air circuit breaker, a unique product.
In November 2021, ABB introduced the IEC low-voltage switchgear portfolio, debuting the NeoGear 4-pole and 690 V versions. The solutions improved operational effectiveness and safety in industrial environments by fusing Industry 4.0 digital capabilities with cutting-edge safety features.

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Key Companies Profiled in the Report:

ABB
Eaton
Fuji Electric Co. ltd
Hitachi
Rockwell Automation
Schneider Electric
Siemens
WEG SA
Legrand
Emerson Electric Co.

Low Voltage Protection and Control Market Segmentation Analysis:

By Product Type:

Protection Equipment
Switching Equipment
Monitoring Devices

By Application:

Residential
Commercial
Industrial

By Region:

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

Author:

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

About Future Market Insights (FMI):

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