Packer Bottle Market sales will grow at 5.5% CAGR Between 2021 and 2031

Over the last few years, packaging bottles have emerged as a convenient packaging solutions, especially for pharmaceutical, food, chemical industries among others. According to a report by Future Market Insights (FMI), packer bottles market is expected to surpass US$ 5.31 Bn by 2031.

Packer bottles are light in weight, small in size, and cost effective packaging solutions predominantly used to pack, carry and store a variety of industrial and non-industrial solutions. Owing to their portability, child resistant packaging and recyclability, packer bottles are experiencing substantial rise in demand in the global market.

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In terms of availability, there are variety of packer bottles made up of plastic and glass available in the market. FMI predicts that, the manufacturers operating in the global packer bottle market to have ample opportunities to maximize their sales, as manufacturing output and packaging needs form pharmaceutical and food sectors is consistently rising.

According to the report, plastic will remain most preferred material owing to its pricing affordability and light weight mass. Among end users, pharmaceutical sector is expected to account for the lion’s share.

Key Takeaways from Packer Bottle Market Packer bottle sales will consistently, despite a temporary set-back amid COVID-19 outbreak. FMI predicts the market to rise at 5.4% CAGR between 2021 and 2031  Within North America, the U.S. is expected to account for over 85% of sales in 2021 Temporary period of lull amid pandemic will cause sales to dip in the U.K. However, recovery is likely 2022 onwards Germany and France are expected to showcase marginal improvement in packer bottle sales in 2021 Despite China’s dominance, Japan and South Korea markets will exhibit higher growth within East Asia

“Incorporation of recent advancements in packer bottles such FDA-approved and child resistant packaging solutions, coupled with excellent light and moisture barrier properties, has widened scope for application in several end use industries,” says FMI analyst.   

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Demand for Damage Resistance and Spill-proof Packaging Solutions in Pharmaceuticals Driving Sales

Aseptic and spill proof packaging is always a prime concern for end users, especially in case of pharmaceuticals and liquid food packaging. Packer bottles are mostly made up of plastic that offers high tear resistant to the inside product during transit. Therefore, this type of packaging solution is used frequently in pharmaceutical industry for packing, sealing, storing, and transporting extensive range of solid and liquid form of pharmaceutical drugs.

Further, packer bottles fulfil precise packaging requirement of pharmaceutical industry as they are offer a multitude of benefits, including efficiency in botyh low & high temperature and impact resistant, child resistant, non-reactive to chemicals, and leak & seep proof. On the other side, rapidly rising healthcare and pharmaceutical spending by individuals will bolster the sales of pharmaceuticals drugs, which will further create considerable demand for rigid packaging solutions including packer bottles.

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Who is Winning?

Berry Global Group, Inc, Amcor Plc and Gerresheimer AG are among the top players operating in the packer bottle market. Some of the other key players operating in the market are Graham Packaging Company, Maynard & Harris Plastics and Alpha Packaging, Inc. The Tier 3 players in the market hold 65-70% in the global packer bottle market. In conclusion, key players contribute almost 30-35% of the global market.

Valuable Insights into Packer Bottle Market Report

Future Market Insights, in its new report, offers an unbiased analysis of the global packer bottle market, analyzing historical demand from 2016-2020 and forecast statistics for 2021-2031. The study reveals growth projections on the packer bottle market on the basis of material (plastic and glass), capacity (100cc & below, 200cc, 300cc, and 400cc), application (tablet & capsules, powder & granules, and liquid) and end use (pharmaceuticals, chemicals, food & beverages ingredients, and other industrial) across seven regions.

Scissor Lifts Market To Grow At 3.5% CAGR During 2020- 2030

Global scissor lifts market to grow at 3.5% CAGR through 2030.Scissor lift is an access equipment which falls under the category of aerial work platforms and is used for safe and efficient elevated material handling across various industries.

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Global scissor lifts market is undergoing a massive transformation with shift from the mature and saturated markets such as North America and Western Europe to the emerging economies such as China, ASEAN, and other South East Asia & Pacific countries. A key factor supporting this expansion is the surging construction activities across developing countries.

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

The market will especially gain from the rising demand from AWP rental service providers. FMI has projected the segment to account for over 80% of the demand recorded in the market through the forecast period. Also increasing application in manufacturing, construction, commercial, and other sectors will continue aiding growth.

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Key Takeaways from Scissor Lifts Market Study

  • Scissor lift market will expand at a steady pace, exhibiting 3.5% CAGR between 2021 and 2031
  • The U.S. is expected to account for over 40% sales of scissor lifts
  • U.K. will remain key market in Western Europe
  • Germany and France will continue exhibiting high demand backed by rising construction activities
  • Sales in Japan and South Korea to increase at a positive pace

“In addition to keeping long-term alliance with their key buyers, companies are offering training courses for operators and focusing on expanding their product range by including electric, hybrid or bi-energy scissor lifts to cater the growing demand for aerial work platforms across the world” said a lead FMI analyst

Growing shift towards hybrid lift development which help rental fleet owners to leverage the flexibility of scissor lift performance for higher utilization and longer term rentals is set to be remain as prominent force in shaping the scissor lifts market.

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Some of the leading companies operating in the scissor lifts market are Terex Corporation (Genie), JLG Industries, Inc., Linamar Corporation (Skyjack), Snorkel International, Haulotte Group, and Zhejiang Dingli Machinery Co, Ltd. These companies are incorporating new environmental-conscious technologies. Along with this, they are fine-tuning their expansion strategies to gain competitive edge.

For instance, Haulotte announced launching two new mobile elevating work platforms that have fully electric architecture to offer excellent performance, while reinforcing direction taken by the company towards environmentally friendly alternative energies.

The lubricant packaging market is projected to record a CAGR of ~5% during 2019-2029

The lubricant packaging market is projected to record a CAGR of ~5% during 2019-2029, majorly driven by the sales of automobiles, despite increasing prevalence of electric vehicles in the transport sector. An incessant rise in number of passenger vehicles worldwide has translated into rewarding opportunities for the lubricant packaging manufacturers. However, it is pertinent to note that recent slowdown of auto sales in countries such as China and India which represent the world’s largest automotive industry may negatively affect the market growth.

The use of flexible packaging formats such as stand-up pouches & bag-in-box has been on the rise for lubricant packaging in the past couple of years, as lubricant manufacturers place their focus on achieving improved portability and convenience.

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Key Takeaways from the Lubricant Packaging Market Study Plastic accounts for a hefty share in the lubricant packaging market, and is anticipated to retain its edge over other materials. With the ever-increasing demand for smaller pack sizes and pouches, plastic is likely to remain the material of choice for lubricant packaging. However, it is projected to lose grounds to metal as aversion for plastics surges globally. Despite the emergence of flexible packaging alternatives, drums continue to experience a sustained preference in the global lubricant packaging market, as obstacles to switching to alternative packaging formats are still significant. Stand-up pouches and bag-in-box containers are gradually making their way in lubricant packaging, but have a long way to go. The automotive industry has shaped the dynamics of lubricant packaging, and it continues to influence the global market scenario by holding nearly 1/3rd of the revenue share. Although packaging for engine oil is anticipated to influence the growth strategies till 2023, it is likely to register relatively low growth rate, due to emergence of electric vehicles.

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“The billion-dollar lubricant packaging market is projected to grow at a steady pace in the next decade, providing huge growth potential to the packagers willing to evolve with newer industrial trends. With the paradigm shift towards flexible packaging, manufacturers can extend their production capabilities and partner with lubricant manufacturers to introduce innovative lubricant packaging solutions with enhanced portability and convenience.”

Key Players Focusing on Market Consolidation

Companies operating in the lubricant packaging market space are forming strategic alliances to achieve market consolidation. Such factors played a significant role in the joint venture of Time Technoplast Ltd. with Mauser AG, a German industrial packaging giant. Furthermore, lubricant packaging manufacturers are targeted towards consolidation activities through enhancement of existing product portfolios. For instance, Greif, Inc. acquired Caraustar Industries, Inc. in 2019, aiming to widen its product offerings, thereby strengthening its foothold in the global lubricant packaging market. 

Looking for More Insights on Lubricant Packaging Market?

Future Market Insights, in its new offering, offers an unbiased analysis of the global lubricant packaging market, analyzing historical demand from 2014-2018 and forecast statistics for 2019-2029. The study unravels growth projections of the lubricant packaging market on the basis of packaging (stand-up pouches, bottles, drums, pails, cans, tubes, kegs, bag-in-box, and IBC), lubricant (engine oil, transmission and hydraulic fluid, process oil, metal-working fluid, general industrial oil, gear oil, and greases), material (metal (steel, tin), plastic (polyethylene(LDPE, HDPE), polyethylene terephthalate, polyvinyl chloride, polyamide, polypropylene, polystyrene), and others), end-use (automotive, metal working, oil & gas, power generation, machine industry, chemicals, and other manufacturing) across seven major regions.

To gain access to incisive outlook of the lubricant packaging market, consult an expert analyst.

About the Packaging Division at Future Market Insights

The packaging division at Future Market Insights provides an in-depth historical analysis and granular projections for the next ten years and covers the competition landscape through a unique dashboard view. Ranging from packaging materials and machinery to packaging designs and formats, Future Market Insights has an exhaustive database for these industry verticals serving clients with our unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analyzed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.

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About Packaging Division at Future Market Insights

The Packaging division at FMI provides an in-depth historical analysis and granular projections of the global packaging market. Ranging from packaging materials to designs & formats, FMI has an exhaustive market research database, serving clients with unique offerings and strategic recommendations. With a repository of 750+ reports, the team analyzed the packaging industry comprehensively in 70+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help

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Global Industrial Valves Market Size In 2018 Was ~US$ 61 Bn And Is Expected To Grow At A CAGR Of ~4% During 2019-2029

Up from the revenues worth US$ 61 Bn registered in 2018, the global market for industrial valves is projected to witness modest growth by the end of 2019. A new market research report by Future Market Insights (FMI) suggests that the increasing exploration activities for new water sources will predominantly favor the growth of market over the course of coming years.

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  1. The global industrial valves market size in 2018 was ~US$ 61 Bn.
  2. The industrial valves market is expected to grow at a CAGR of ~4% during the forecast period of 2019-2029.
  3. Besides adoption for automatic functions of valves, the increasing demand for manual structures has been recently driving the sales of industrial valves.
  4. Collectively, Asia Pacific Excl. Japan and North America are likely to account for ~70% of the revenue shares in the industrial valves industry by the end of 2029.
    • North America, attributed to the strong presence of the oil & gas industry, will continue to be a prominent regional market for industrial valves manufacturers.
  5. The oil & gas industry is estimated to remain the prominent end-use industry for industrial valves market players.
    • The oil & gas industry has witnessed significant growth over the recent past, and the revival of the oil & gas sector has been particularly noteworthy.
    • Noteworthy application potential of industrial valves has been identified in the water & wastewater treatment.

With the onset of Industry 4.0 and the reciprocating shift of industries towards automation, the industrial valves landscape is compelled to move beyond its traditional, old-school valve engineering models. Although manually operated valves still account for almost 2/3rd of total sales, FMI foresees a rapidly progressing market scenario for automated valves in the next few years.

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By type, the gate type of industrial valves segment is expected to hold prominent value shares of the global industrial valves market. Furthermore, the globe valve segment is expected to be the prominent segment throughout the forecast period. Gate valves, closely trailed by globe and ball valves, are identified to remain the sought-after industrial valve types throughout the forecast period. A number of manufacturers are however focusing on investments in globe industrial valves. FMI’s research also highlights visibly growing market attractiveness of butterfly valves across industries.

The analysis of industrial valves market on the basis of materials reveals that cast steel, carbon steel, and stainless steel remain the preferred materials among manufacturers of industrial valves, which collectively account for ~85% shares in the revenues. Bronze is likely to emerge lucrative as a material of choice, over the years to come, as indicated by report findings.

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Market in APEJ Projected for Remunerative Growth

The market in Asia Pacific excluding Japan (APEJ) is expected to exhibit lucrative growth potential in the global industrial valves market over the forecast period of 2019-2029. According to the report, this growth is propelled by the rapid growth in the oil & gas industry in countries of APEJ such as India and China, and ASEAN Countries, among others. The economic condition of these countries have been positively developing.

Competitive Analysis:

The report highlights some of the prominent market players, who have established themselves as leaders in the global industrial valves market such as GE Company, Emerson, Flowserve Corporation, Schlumberger Limited, TechnipFMC Plc, KSB SE & Co. KGaA, x KITZ Corporation, Alfa Laval Corporate AB, Curtiss-Wright Corp., CIRCOR International, Inc., IMI Plc, Mercer Valve Co., Inc., National, Oilwell Varco, Inc., Weir Group Plc., Neway Valves, AVK International A/S, Flowserve Corporation, and LESER GmbH & Co. KG, among others.

CO2 Laser Market Competitive Growth Strategies Based on Type, Applications, End User and Region

CO2 laser, invented in 1964, is a high power laser used for cutting through ferrous and non-ferrous metals. CO2 laser is a mixture of various gases like carbon dioxide, nitrogen, helium, xenon and/or water vapor and even hydrogen sometimes. Due to their high power capabilities, CO2 laser are widely used in industrial applications for cutting, engraving, and welding. In 1984, CO2 laser was approved by the U.S. Food and Drug Administration (FDA), making its application in the healthcare industry more mainstream.

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Use of CO2 laser causes less bleeding, less pain and a significantly reduced risk of infection, making it a preferred choice in medical and cosmetic surgeries. CO2 laser is since being used as an incision tool in various surgeries, like dermatology, neurosurgery, otorhinolaryngology, plastic surgery, gynaecology and ophthalmology.  Apart from these, CO2 laser also finds applications in military, communications and different manufacturing industries, making it one of the most widely used type of laser in the industry.

CO2 Laser: Market Dynamics

CO2 laser finds its applications in a number of manufacturing industries as well as in health and diagnostics field. CO2 lasers are used for cutting highly precise designs from materials of varying thickness, at a high speed. Hence, they are used in cutting, welding and drilling components, ranging from very small to large sizes. CO2 lasers have become a go-to choice for cosmetic surgeries like skin lesion and anti-aging surgeries. It is also being used in various complex surgical processes like neurosurgery, spine surgery and ophthalmology, among others, where large excisions are involved and anticipated loss of blood is significant.

Use of CO2 laser in design for manufacturing (DFM) has been gaining prominence in a number of manufacturing industries. DFM helps manufacturers make a manufacturing process easier, economical and efficient, by checking if a product design can be put into manufacturing process. With the use of CO2 lasers, manufacturers are now able to incorporate more complex designs into manufacturing process, as CO2 lasers are capable of achieving high precision cutting even for complex designs. On the other hand, CO2 laser is increasingly being used in military applications, for LIDAR imaging, which serves as a better alternative to satellite imaging, due to its higher accuracy in imaging.

CO2 laser is anticipated to witness significant competition from fiber lasers, especially in micromachining applications, as they are cheaper and precise as compared to CO2 lasers. But given its unparalleled advantages in diagnostics and manufacturing sectors, CO2 laser market is anticipated to witness a robust growth in the coming years.

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Regional Outlook

East Asia region is expected to dominate the global CO2 laser market, owing to the high demand from electronics, semiconductors and manufacturing industries in China, Japan, and South Korea. East Asia is anticipated to grow the fastest in the CO2 laser market, driven by the growing manufacturing sector in India. Europe is also expected to hold a dominant share and grow at a moderate pace in the global CO2 laser market, owing to the maturity in the adoption of CO2 laser in various end use industries. North America is also expected to exhibit similar growth pattern in the CO2 laser market growth.

Regional analysis includes:

  • North America (U.S., Canada)
  • Latin America (Mexico, Brazil, Argentina, Chile, Peru)
  • Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordics)
  • South Asia (India, ASEAN, Others)
  • East Asia (China, Japan, South Korea)
  • Oceania (Australia, New Zealand)
  • Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with CO2 Laser market attractiveness as per segments. The report also maps the qualitative impact of various market factors on CO2 Laser market segments and geographies.

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By Market Segmentation

The overall CO2 Laser market can been segmented on the basis of application as:

  • Therapeutic & Diagnostics
  • LIDAR Imaging
  • Cutting & Perforations
  • Welding
  • Drilling

The overall CO2 Laser market can been segmented on the basis of output power as:

  • Up to 50 W
  • 50 W to 500 W
  • 500 W to 1000 W
  • Above 1000 W

The overall CO2 Laser market can been segmented on the basis of end use sector as:

  • Military & Defence
  • Aerospace
  • Metal Processing
  • Healthcare
  • Manufacturing
  • Automotive
  • Telecommunication

Market Participants

Some of the key market participants identified in the CO2 Laser market across the globe are:

  • TRUMPF
  • Coherent, Inc.
  • FANUC CORPORATION
  • Han’s Laser Technology Industry Group Co., Ltd
  • El.En. S.p.A.
  • LIGHTMACHINERY, INC
  • AMTEC
  • Epilog Laser
  • Control Laser Corporation USA
  • Kern Electronics & Lasers, Inc.
  • PRC Laser Corporation

Tissue Paper Converting Machines Market Study: Demand Bolstered by Ascending Sales of Compact and High-end Tissue Paper Products

Worldwide sales of tissue paper converting machines reached ~3 thousand units in 2018, unveils the new research study by Future Market Insight (FMI). According to the report, the tissue paper converting machines market is estimated to grow by ~5% YOY in 2019, primarily influenced by recent technologies for enhancing tissue paper formats. According to FMI’s report, increasing focus on strength, printing and embossing quality, and production cost-effectiveness of tissue paper is contributing to the build-up of tissue paper converting machines market through 2027.

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In 2018, Gambini launched AirMill, the innovative technology that enhances the embossing technology and transformed the conventional tissue paper into increasing volume and good absorbency without compromising its tensile strength. Consumer proclivity for soft and high absorption quality tissue paper, combined with good strength and compact format, will also continue to provide a fillip to the sales of tissue paper converting machines in 2019 and beyond.

Companies Investing Heavily in Capacity Expansion of Tissue Paper Products

As per FMI analysis, the consumption of tissue paper in last three years has rapidly increased owing to the growing concern around hygiene maintenance. As tissue paper is used for one time only, it helps to prevent chronic disease spread. This creates a huge opportunity for tissue paper key players. The tissue paper manufacturers have started investing in capacity expansion and quality management.

  • On 27 November 2018, Cascade Inc. invested US$ 58 million to modernize tissue converting capacity at its Wagram, NC plant.
  • In 2018, Metsa Tissue, replaced its old machines with an increased capacity machine having production capacity of 10,000 Tones. In order to deal with the growing demand of tissue paper in West European region, the company started new away-from-home, converting lines at its Germany plant.

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Implementation of Hybrid Technology in Industries Creating New Opportunities

In order to deal with market competition, key players are laying maximum focus on developing innovative and integrated technologies of tissue paper converting machines. In 2018, Gambini S.p.A. one of the leading manufacturers of converting machineries, introduced Gambini for You (G4U) – Pilot Line along with the strategic partner AirMil. This consists of a pilot line from the unwinders to the log saw with the format 2.8m and speed up to 550 m/min. Moreover, Fabio Perini S.p.A. recently launched MyPerini, a complete range of converting and packaging line for tissue papers.

Toilet Roll Converting Machine Lines Gaining More Traction

As per FMI’s study, the demand for toilet roll converting line is dominating the global market of tissue paper converting machines. The key players can skip the use of rewinding of logs using advanced toilet tissue paper converting lines. It is witness that the demand for toilet tissue paper is growing significantly in Asia Pacific and North American regions. As per the report, the global sales of toilet roll converting machines poised to reach ~2 thousand units in 2019. Following this, the demand for kitchen roll converting machines is estimated to shoot up by the end of 2027, as the European consumers have a higher demand for kitchen tissue paper in consumer and hospitality sectors.

The modern converting machines maintains the embossing and printing quality during tissue paper formatting. The sales of folded tissue paper converting machine lines will continue to remain less, reveals the FMI study. Owing to an increasing preference of pocket tissue papers, the demand for paper napkin converting machines is expected to be bearish during 2019-2027. The market share for standalone machines will remain constant due to increasing preference of integrated technology based machineries.

This study underlines key opportunities in the tissue paper converting machines market and finds that the market would exhibit growth at a value CAGR of ~5% during forecast period, 2019-2027. For in-depth information on tissue paper converting machines market, write in to the analyst at media@futuremarketinsights.com

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Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.

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Pallet Jacks Market Competitive Growth Strategies Based on Type, Applications, End User and Region

Pallet Jacks Market Overview

Pallet jacks are also called as fork lifts or pallet trucks. These are used for material handling in warehouses, manufacturing, etc. These are commonly made of stainless steel. Starting from First Industrial Revolution, which used steam power to automate the production to Fourth industrial revolution, which is drven by digitization, material handling has transformed into new form in each phases. Now fully automated electric pallet jacks with high load capacity are available in  the market. Pallet jacks play a vital role in material handling. These help in loading and unloading of the bulk goods.

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These are also used in inbound transportation of bulk goods from one corner of the warehouse or production floor to other corner. Manufacturers are very much concerned about their production efficiency and reducing the lead times. Material handling is a time consuming process if not handled properly, which may result into unproductivity and not meeting the production targets and deadlines. Manufacturers are continuously investing in transformation of their production facilities to modern technologies. Automating the material handling process improves production efficiency and reduce the lead times. Labor cost can also be optimized in the long term, as  technology & equipment require a one time investment.

Global pallet jacks market has a considerable correlation with global material handling equpments (MHE) market. Global material handling equipments market is estimated to reach approximately US$ 120.0 Billion, by 2018. The global MHE market is expected to driven by emerging markets e.g. India, China, Brazil, South Africa, Nigeria. Rising industrilization in Asia Pacific, Latin America and Africa regions is expected to drive the regional growth during the forecast period.

pallet jacks market 01

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Increasing adoption of advanced technologies, such as Internet of Things (IoT), RFID, robotics, smart labels, voice recognition etc. in material handling is driving the overall global pallet jacks market. Manufacturers want to automate the production process, especially material handling, so that the production efficiency can be enhanced.

Manufacturers are leveraging manufacturing advantage to beat the fierce competition in market. Smart factories with smart material handling will reduce the labor cost and speed up the production process. Pallet jacks play a vital role in transportation of goods from warehouses to store shelves (inventory replenishment) at right time and right condition is vital in supermarkets and hyper markets. Growing competition from material handling processes such as conveyors and robots is hampering the demand for pallet jacks.

Robots are smart compared to pallet jacks and avoid collisions and accidents during material handling process. Robots may not need human interference during material handling process unlike pallet jacks. As robots cost very high compared to pallet jacks, still pallet jacks dominate over robots and other substitute products, by market share in the global material handling equipment market.

Global Pallet Jacks market: Key Players

Some of the key players operating in the global pallet jacks market are – Toyota Motor Corporation, Jungheinrich AG, Raymond Corporation, Yale Materials Handling Corporation, Caterpillar Inc., Clark Material Handling Company Inc., Crown Equipment Corporation, Komatsu Ltd., UniCarriers Corp., Combilift Ltd., Godrej Material Handling, Carborundum Universal Limited (CUMI), Jost’s Engineering Company Limited, Patel Material Handling Equipment, Noveltek Industrial Manufacturing Inc., Niuli Machinery Manufacture Co., Ltd, Ningbo Ruyi Joint Stock Co., Ltd., SUZHOU PIONEER MATERIAL HANDLING EQUIPMENT&TECHNOLOGY CO.,LTD., Wesco Industrial Products, LLC and Mitsubishi Caterpillar Forklift America Inc. and others.

The global pallet jacks market is expected to witness new product launches during the forecast period. Manufacturers of material handling equipment are increasingly investing in new technology and design for material handling solutions. Manufacturers are entering in to collaborations and starting joint ventures (JVs). Global material handling equipment market is expected to witness a growing consolidation during forecast period.

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Key Developments, Merger and Acquisitions

  • In September 2017, Toyota Material Handling, U.S.A., Inc. (TMHU) launched new AC-powered walkie pallet jack with brand Tora-Max. The load capacity is 4,000-pound.
  • In October 2017, Jungheinrich’s horizontal order picker ECE and the electric ride-on pallet truck ERE have won the “German Design Award 2018” in the transportation category.
pallet jacks market 021

Conclusion

Global pallet jacks market is expected to expand at a lucrative CAGR during the forecast period, due to growing industrialization in emerging markets. Manufacturers are constantly investing in infrastructure upgradation, so that the overall production efficiency can be enhanced and manufacturing advantage can be achieved. The market is expected to witness rising consolidation during the forecast period.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.

Global Agricultural Equipment Market Will Expand At A Steady CAGR Of 4.8% Between 2021-2031 And Valuation Is Set To Reach US$ 65 Bn By 2021 End

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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The agriculture industry is under constant pressure to address the food security issue. Farmers across the world are employing various equipment to increase food production. These machines minimize the manual labor and reduce turnaround time.

Growing popularity of precision farming is augmenting the demand for modern agricultural equipment. With the integration of artificial intelligence (AI) and internet of things (IoT), the sales of agriculture equipment are soaring. Smart farming is gaining traction. Introduction of electric agricultural equipment has completely changed the market scenario. These equipment does not only minimize the emissions but also reduce costs and improve efficiency.

New trends of agricultural robotics and driverless machines are attracting large number of farmers to upgrade their equipment systems. As per FMI, the agricultural equipment market will surpass a valuation of US 65 Bn by 2021 end.

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Key Takeaways from FMI’s Agricultural Equipment Market Study

  • Europe dominates the ground support equipment market as a result of increasing agricultural mechanization and presence of leading manufacturers. The market in the region is set to register steady growth at 4.4% CAGR between 2021 and 2031.
  • The U.S. is expected to register a strong CAGR during the forecast period as a result of rapid technological advancements and availability of equipment leasing.
  • With implementation of favorable governmental policies, China is anticipated to emerge as the leading market for agricultural equipment.
  • Top 5 players operating in agricultural equipment market collectively account for 44% market share.
  • By product type, tractors dominate the agricultural equipment market with their multipurpose nature.

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Competitive Landscape

Key players operating in agricultural equipment market are investing heavily on research and development activities. They are adopting various organic and inorganic growth strategies such as mergers and acquisitions, advanced product development and collaborations to gain a competitive edge in the market. For instance,

World Barcode Scanner Market Is Estimated To Be Worth US$ 7 Bn In 2021 And Is Expected To Grow At A CAGR Of Over 7.6% Between 2021-2031

As per newly released data by FMI, the barcode scanner market is estimated to be worth US$ 7 Bn in 2021. The market is expected to grow at a CAGR of over 7.6% between 2021 and 2031. Increase in healthcare sector is expected to increase the demand for barcode scanners over the assessment period.

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Despite challenges posed by COVID-19 outbreak, the barcode scanner demand increased with a rapid shift from handheld laser scanning to imaging solutions. North America will remain as a leading market, accounting for over 30% value share in 2021. Barcode scanner demand outlook for North America is expected to remain positive with the healthcare sector touted as leading contributor. The advent of barcode technology has greatly reduced the hassles of tracking supply and commodity sale records for retailers across the globe. Over the years, the technology has been consistently improved and made more efficient.

Currently, barcode solutions are being used across various domains owing to their exponential capabilities in systematically recording information such as product count, date of manufacturing, date on which the product was supplied to the retailer and selling price. Moreover, the emergence of e-commerce and intra-regional markets that offer specialized services to a wide range of sectors has further expanded its application base.

Future Market Insights (FMI) in its latest report titled “Barcode Scanner Market: Global Industry Analysis and Opportunity Assessment, 2021–2031” reveals that use of barcode technology is rapidly rising in both retail and manufacturing industries. Barcode scanners have become one of the best solutions for recording product information without making any major manual effort.

The technological advantages and cutting-edge features of barcode scanners are also making them popular in the healthcare industry. Barcode technology can help rectify medication errors, medical practitioners and physicians can easily get information about medicines as well as their manufacturing dates.

The report further cites that the global barcode scanners market will account for about US$ 7 Bn by 2031-end. During the same duration, the market is also expected to reflect a CAGR of 6.4% in terms of volume, reaching 38.7 Mn units over 2031-end.

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Additional Highlights of the report Include:

Laser-based scanner is expected to remain as the prime technology. Laser scanners are widely used in regions with established manufacturing and retail sectors such as Western Europe and North America. By the 2021-end, laser scanners are estimated to accounts for 32.3% revenue share of the market and will continue to be the most preferred barcode reader technology throughout the assessment period.

However, camera-based reader is anticipated to see the fast adoption as these scanners are innovative and configured with advanced 2D imaging technology. Based on product type, portable/handheld scanners are expected to remain top choices of barcode scanners amongst consumers over the forecast period.

Owing to characteristics such as faster print speed and versatility, demand for portable/handheld barcode scanners is rapidly increasing in various parts of the world. Use of barcode scanners in the retail and commercial sector continues to be the highest and is expected account for a major chunk of revenue over the forecast period. Meanwhile, the healthcare industry is swiftly adopting the barcode technology as well.

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Amongst regions, markets in Asia Pacific excluding Japan (APEJ) and North America are expected to exhibit high growth potentials. In APEJ, China and India are projected to achieve impressive growth of their barcode scanner market. By 2017-end, the region is projected to account for a revenue share of 29.5%, which is expected to increase to 33.8% towards the end of the forecast period.

Key Players:

Market players are targeting APEJ as their key sales region.  Zebra Technologies Corporation, Honeywell International Inc., DataLogics S.P.A, Cognex Corporation, OCOM Technologies, Wasp Barcode Technologies, JC Square Inc., SATO Holdings Corporation, Scandit AG and Toshiba TEC Corporation are some of leading companies profiled in the FMI report.

Global Submersible Pump Market Valuation Totaling US$ 8.80 Bn In 2021 And Expected To Increase At 5.1% CAGR Between 2021-2031

Globally, sales in the submersible pumps market are set to be valued at US$ 978.5 Mn in 2021, with a stable long-term projection. According to latest analysis by Future Market Insights (FMI), the submersible pumps market is poised to expand at a 5.1% CAGR over the forecast period 2021-2031.

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Sales of submersible pumps were however dampened due to the outbreak of the COVID-19 pandemic. Disruptions in supply chain and suspended production activities in the oil and gas sector resulted in stagnated demand for submersible pumps.

Submersible pumps manufacturers are focusing on launching cost-effective and high efficiency products to improve sales. Governments of emerging economies in Africa and Asia, particularly in countries such as India, China and South Africa, are increasing efforts to improve access to drinking water in rural as well as urban areas, which in turn is benefiting the market.

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“Initiatives undertaken by governments for waste water management and encouraging the use of technologically-driven equipment in agricultural sector are expected to spur the demand for submersible pumps,” said Future Market Insights analyst.

Key Takeaways:

  • By product type, borewell submersible pumps are expected account for half of the global market in terms of revenue by the end of the forecast period.
  • By head type, above 100 m pumps are expected to gain popularity over the forecast period owing to increasing demand for water distribution application.
  • By Application, demand from municipal sector is anticipated to grow at 5.5% CAGR over the forecast period.
  • East Asia has the leading share in terms of volume. However, Europe is projected to account for highest value share. Industrialization in emerging economies of Asia will increase the demand for submersible pumps over the forecast period.
  • China and Japan will continue spearheading growth in East Asia.

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Competitive Landscape

Some of the key submersible pumps manufacturers include Kubota Corporation, Wacke Neuson Group,  Atlas Copco, ABKSB SE & Co. KGaA, Xylem Inc.,Ebara Corporation, Grundfos, Sulzer AG, The Weir Group PLC, Tsurumi Manufacturing Co., Ltd. Kriloskar Brothers Ltd., Flowserve Corporation.

The global submersible pumps market is fairly fragmented owing to the presence of several players across the globe. Moreover, leading share in the market is accounted by unorganized players which is estimated to be at around 50%-55%. Key market players are focusing on research and development to expand their product portfolio. Besides this, they are actively investing in mergers, acquisitions, and strategic collaborations to expand their global footprint.