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Some of the leading companies are incorporating IoT technologies in connected elevators and escalators. This has allowed them to control various parameters such as load capacity, frequency of usage, and others. Such technological improvements are expected to bode well for the overall market.

According to FMI, the elevator and escalator market is anticipated to witness growth of ~6.6% CAGR during the forecast period from the year 2020 to 2030.

Infrastructural development witnessed across the world, besides increase in population is encouraging growth in the construction industry. This has been creating growth opportunities for the elevator and escalator market. Despite requiring expert handling and maintenance expenditure, the demand for elevators and escalators are projected to increase further in the coming years.

The recent COVID-19 outbreak has resulted in declining market growth. However, several factors are expected to drive the elevator and escalator market during the forecast period.

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FMI offers an exhaustive overview of the elevator and escalator market along with its potential, growth drivers and restraints.

Some of the key takeaways from the report are highlighted below-

• Product-wise, elevator is expected to lead the market followed by escalator during the forecast period
• Load type-wise, passenger segment will exhibit hegemony in the coming years
• New system installation type is set to gain traction in the global market
• Commercial end use segment is projected to exhibit highest growth followed by the residential segment throughout the forecast period
• New-age IoT technology will cater to the steady market growth in the near future
• East Asia elevator and escalator market will maintain the lead while emerging as the highest growing market among all other regions

 “As the building and construction industry is expanding rapidly, the demand for elevators and escalators is rising higher. To capitalize on prevailing opportunities, market players are launching novel cutting-edge technologies that offer more sophisticated functionalities in elevator and escalator. This is anticipated to create lucrative growth opportunities for the market in the coming years,” says an FMI analyst.

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COVID-19 Impact Analysis

The elevator and escalator market growth has been declining due to the novel coronavirus outbreak. As consumers have shifted their focus more on emergency services such as medical, diagnostic, pharmaceutical and others instead of building and construction sectors, the market growth rate has fallen temporarily.

Added to this, the factors such as non-operational manufacturing units, unavailability of labours, scarcity of raw materials, disruptive supply chain and logistics sector, financial crisis, job recession, and others have slowed down the progress of market.

According to FMI, the elevator and escalator market is set to recover by the first quarter of the year 2021.

Who is Winning

As the elevator and escalator market potential is rising steadily, the key market players are focusing on launching advanced designs to gain competitive edge. For instance, DOPPLER S.A. has launched their DOPPLER Lift Hygiene Solutions equipped with air sterilizer using UV photo catalyst sterilization and UV antibacterial light disinfection system in 2020.

Kone Corporation has launched Kone Health & Wellbeing Solutions for Elevators and Escalators which include escalator handrail sanitizer, elevator remote call using whatsapp, elevator air purifier, and others in June 2020.

Some of the leading companies operating in the market are DOPPLER S.A, Kone Corporation, Orona Group, EMAK Elevator, Sanyo Elevator (Zhuhai) Co., Ltd, and others.

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More Valuable Insights on Elevator and Escalator Market

In the latest report by Future Market Insights, we offer a detailed unbiased analysis of the global elevator and escalator market, providing historical data for the period of 2015-2019 and forecast statistics for the period of 2020-2030. In order to understand the global market potential, its growth and scopes, the market is segmented on the basis of product type (elevator (hydraulic, traction, machine room less, vacuum), escalator (step type, belt type, cleat type, spiral)), load type (passenger, freight, observation, others), installation (new system installation, retrofit), end use (residential (low rise building, mid rise building, high rise building), commercial (hotels, airports, subway stations, commercial complexes, offices & institutions, industrial), hospital, infrastructure & construction, transportation & logistics),  across six major regions (North America, Latin America, Europe, South Asia, East Asia, Oceania, MEA).

 The dynamic shift from manual to automatic packing lines is in turn expected to increase process efficiency and reduce dependence on the workforce, making it a cost-effective proposition in the long run. Rising demand for prefilled syringes for vaccination programs is expected to be a key trend, which would positively affect the pharmaceutical unit dose packaging market.

Automated packaging lines are also multitasking, which covers numerous steps of the packaging process such as forming, filling, sealing and labeling into single step. The designers of packaging line automation systems are prioritizing the design of human-machine interfaces (HMIs) to streamline processes. These enhanced HMI can sort it simpler for operators and managers to access information related to specific packaging production line.

The above trend is expected to be backed by increasing availability of biotechnology products with specific requirements for packaging such as prefilled syringes and single-use vials. Vials and prefilled syringes are two of the most common forms of pharmaceutical unit dose packaging, typically preferred in clinical research and diagnostic centers.

Vials and blisters have been identified as the most prominently used products in the pharmaceutical unit dose packaging market. Manufactures are vigorously ramping up for their facilities of vials production in anticipation of the demand for COVID-19 vaccine supply from all over the world. Thus, the segment is projected to expand 5.7x its current value during the forecast period.

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Key Takeaways from Pharmaceutical Unit Dose Packaging Market

• Pharmaceutical unit dose packaging sales will surge at 14.7% CAGR between 2021 and 2031
• The presence of several leading players has enabled the U.S. account for over 87% of sales in North America in 2021
• Rising research and development initiatives enabling the U.K. exhibit over 15% y-o-y growth in 2021
• Surging healthcare spending has been fuelling the demand in Germany and France
• Increasing demand for vaccination amid COVID-19 fuelling sales in China, Japan, and South Korea

 “Some of the leading players are aiming at intensifying their production facilities to cater to the rising demand for vials and prefilled syringes to aid COVID-19 vaccination drives,” says FMI analyst.

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Pharmaceutical Unit Dose Packaging Market Players Focusing on Geographic Expansion

As per FMI analysis, some of the leading manufacturing companies within pharmaceutical industry have been aiming at expanding their footprint, especially in remote areas with unmet medical needs. The demand for smaller packaging solutions such as blisters is considerably high in these regions. Furthermore, pharmaceutical unit dose supplying strategy includes getting some medicines in bulk quantities and repackaging them into single or unit dose, using high volume repackaging systems and some manual repackaging machines.

Cost saving is a key benefit of locally repackaging of medicines into unit dose, using high volume automated repackaging systems. Unit Dose Solutions, Inc., Safecor Health, Almac Group are some of the players who are active in repackaging services.

Impact of COVID-19 on Pharmaceutical Unit Dose Packaging Market

Global pharmaceutical unit dose packaging market is anticipated to exhibit impressive growth amid the emerging second wave of the COVID-19 pandemic. This is mainly due to the robust demand of drugs, medicines and vaccines from diagnostic centres, hospitals, and other healthcare units, who constitute the leading consumers of pharmaceutical unit dose packaging.

Blisters and vials will continue to attract massive investments from investors in orals and injectable pharmaceutical unit dose packaging end uses. According to FMI analysis, global adoption of pharmaceutical unit dose packaging will surge nearly 3.0x over 2021-2031.

QR codes and RFID tags have already been in use by pharmaceutical unit dose packaging manufacturers to ensure safer transportation of vaccines. The market is witnessing sharp growth in the usage of automation and robotics. For instance, a novel technology is adopted by Pfizer, Inc. for packing the vaccine doses due to be delivered in the USA. It is called “Ecoplat Plus” by ROBOPAC USA. It uses stretch film, a wrapping turntable incorporating state-of-the-art technology that guarantees advanced efficiency due to its durability, power and ease of use, including optimum safety of the products.

Pharmaceutical Unit Dose Packaging Market Landscape

UDG Healthcare plc, West Pharmaceutical Services, Inc., Schott AG, SGD SA, Stevanato Group S.p.a., Klockner Pentaplast Group, Amcor plc, Gerresheimer AG, Berry Global, Inc., Comar LLC, Constantia Flexibles Group GmbH, Nipro Corporation, Catalent, Inc., Becton, Dickinson and Company, Adelphi Healthcare Packaging, Winpak Ltd., Pacific Vial Manufacturing Inc., Sonoco Products Company, WestRock Company, and AptarGroup, Inc. are the prominent players in the pharmaceutical unit dose packaging market. The Tier 3 players in the market hold 75-85% in the global pharmaceutical unit dose packaging market. In conclusion, key players contribute almost 15-25% of the global demand.

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Pharmaceutical Unit Dose Packaging Market Report

Future Market Insights, in its new report, offers an unbiased analysis of the global pharmaceutical unit dose packaging market, analyzing historical demand from 2015-2019 and forecast statistics for 2020-2030. The study reveals growth projections on the pharmaceutical unit dose packaging market on the basis of product (blisters, ampoules, vials and prefilled syringes cartridges), material (plastic ((polyethylene (PE) (high density polyethylene (HDPE) and low density polyethylene (LDPE)), polypropylene, poly vinyl chloride (PVC), and polyethylene terephthalate (PET))), aluminum, glass and paper & paperboard) and end-use (ophthalmic, injectable, biologics, wound care, respiratory therapy and orals) across seven regions.

The painting robots market will register increasing growth as a result of high demand from various industries including HVAC, furniture, sanitary ware, textiles and heavy engineering equipment.

Industries are exhibiting high demand for flexibility in automation systems to move beyond traditional manufacturing processes, especially for automotive and electronics manufacturing. Application of painting robots is expected to grow in the automotive sector as a result of higher electric vehicle production.

According to the study, Germany, the U.S., and Japan are likely to emerge as highly lucrative market for painting robots. Surging automotive sales in Germany will remain a chief growth driver.

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Key Takeaways of Painting Robots Market Study

• Painting robots market size will reach US$ 2.92 Bn in 2021
• The U.S. will emerge as a highly lucrative market, creating absolute dollar opportunity of US$ 334 Mn by 2031
• Demand for painting robots will grow by 12.7% CAGR in Germany
• China will lead sales of painting robots in East Asia. Demand for painting robots in China will grow by 7.3% CAGR between 2021 and 2031
• Japan and South Korea are expected to account for 16% of sales in painting robots market in 2021.

“With manufacturing sector exhibiting high demand of painting robots, market players are expected to focus on customizing features to cater to specific industry requirements. Besides this, they are expected to use diverse marketing platforms for product positioning,” said a FMI analyst.

During the forecast period, the painting robots market is expected to be aggressively driven by demand for automation. With the positive influence from industry 4.0 and the rising applications of quality management systems to enhance efficiency of operations and reduction of error rate, there will be surge in sales of painting robots in the coming years.

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Competitive Landscape

The global market for painting robots is identified to be extremely consolidated, with the top manufacturers controlling about 75-80% of the overall market. Market players are competing to increase their global footprints and collaborate directly with end users.

By providing speed and scalability through their goods, they are producing economic solutions and addressing production issues for their customers. The major players are also focusing on value added services to establish robust service network.

Furthermore, painting robot manufacturers are adopting key supply trends such as easy integration of robots into customers’ systems, easily programmable robots, and flexible deployment to gain competitive edge. Some of the key players in the market are Dürr AG, ABB Ltd, Kuka AG, Fanuc Corporation, Kawasaki Heavy Industries Ltd, and Yaskawa Global.

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Key Market Segments Covered

By Type:

• Pedestal Robots
• Robotic Arms

By Payload:

• Upto 5 Kg
• Upto 15 Kg
• Upto 45 Kg

By Function:

• Painting
• Painting, Spraying & Coating

By Reach:

• Upto 1,000 mm
• Upto 1,500 mm
• Upto 2,000 mm
• Upto 2,500 mm
• Upto 3,000 mm

By Configuration:

• 6 Axis
• 7 Axis

By Application:

• Atomizer
• Air Gun

Owing to rapid technological advancements in transportation and logistics sector, there is an increase in demand for supply chain management solutions. Also, advanced technologies have become essential in improving economic competitiveness, thereby propelling the market growth.

Chief factors fueling the demand for supply chain management solutions include high growth in eCommerce, need for greater transparency and visibility in supply chain processes and data, enhancing business continuity by minimizing potential failures, and rising adoption of cloud supply chain management among SMEs.

In addition to this, integration of AI capabilities with supply chain management (SCM) offerings is projected to create lucrative opportunities for SCM vendors in the long run.

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Key Takeaways: Supply Chain Management Market

• By software solution segment, the integrated SCM platform/suite is anticipated to account for the leading market share. The segment is estimated to grow at a robust CAGR of 13.5% through 2031.
• Based on deployment, the on-premises segment is estimated to account for more than half of the software solution segment in 2021.
• The demand for supply chain management in large enterprises is expected to grow at the highest rate.
• Demand for supply chain management in transportation & logistics and manufacturing sector is estimated to grow at an impressive CAGRs. However, retail & consumer goods segment is estimated to continue to hold dominant market share in the global supply chain management market during the forecast period.
• Among the regions, North America is estimated to hold highest market share followed by Europe in 2021. South Asia & Pacific is anticipated to emerge as the fastest growing region between 2021 & 2031.
• The market in Japan is expected to progress at a noteworthy CAGR of more than 14% through 2031.
• In the U.K., sales are expected to increase tremendously at a CAGR of 11.4% over the next ten years.

 “Supply chain management solutions enable organizations to efficiently manage potential challenges such as demand spikes, inventory and labor shortages, and transportation disruptions, along with effectively mitigating supply chain disturbances. In addition to this, agility and omnichannel supply chains are becoming the norm, while the increasing availability of Big Data means organizations are now able to close the loop with prescriptive analytics and make informed supply chain decisions,” says FMI analyst.  

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COVID-19 Impact Analysis on Supply Chain Management Market

The COVID–19 pandemic has compelled several industries and organizations to revamp their global supply chain model. The lockdown implemented to contain the spread of the virus across various countries has shut down economies and is impacting every aspect of the supply chain around the world.

This also has caused various industries to move their normal manufacturing processes to manufacture PPE kits and other essential medical supplies. Technologies such as Machine Learning (ML) and AI are beginning to drive innovation strategies of the businesses, in order to successfully operate during this period, which is further estimated to increase the adoption of cloud-based SCM solutions across various sectors.

The global pandemic affected almost all aspects of the global economy over the past few months. One industry that has seen remarkable changes is e-commerce. There is a huge pressure on the supply chain logistics industry to keep up with the ever-rising demand, as self-isolated consumers are shifting towards online shopping platforms. Accordingly, logistics companies are stepping up with innovative strategies to respond to these rapidly shifting logistics trends in 2021.

Thus, the supply chain management market is estimated to showcase a slight decline, temporarily, from around 9.1% to 8.7% Y-o-Y from 2019 to 2021.

Integration of Blockchain Technology to Propel the Sales

The demand for blockchain technology is increasing for supply chain management solutions as it increases the efficiency and transparency of the supply chain and positively affect the logistics processes, from delivery to storage and payment. Due to transparency and security achieved by blockchain, the speed of physical flow of goods is increased.

Blockchain records every single asset from product to containers as it flows through the supply chain nodes. It also helps to track information regarding orders, receipt, invoice, payments and digital assets like copyrights, certifications, barcodes and other things.

Blockchain integration with supply chain management systems results in increased sustainability, reduced errors and delays, minimized transportation cost, faster identification of errors, and improved product transport and inventory management.

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More Valuable Insights on Supply Chain Management Market

FMI’s report on the Supply chain management market is segmented into four major sections – solution (integrated SCM platform/suite, standalone solutions (supply chain planning, warehouse management software, transportation management software, sourcing & procurement, order management, and others), and services (outsource supply chain management services and professional services), deployment (cloud-based and on-premises), enterprise size (small and medium enterprises (SMEs) and large enterprises), industry (retail & consumer goods, manufacturing, automotive, healthcare & pharma, food & beverages, transportation & logistics, and others), and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa), to help readers understand and evaluate lucrative opportunities in the supply chain management market.