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

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

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

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Process Liquid Analyzer Market: Drivers and Trends

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

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

Process Liquid Analyzer Market: Market Participants

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

Key Segments Covered

By Technology,

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

By Liquid Medium,

  • Water
  • Oil
  • Other Chemicals & Liquids

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By Product,

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

By Display,

  • Analog
  • Digital

By End Use,

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

By Region,

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

Revenue Pullers in the Process Liquid Analyser Market

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

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FMI Projections and Forecasts of the Process Liquid Analyser Market

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

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

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

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

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The transformer monitoring system market exhibited year-on-year growth of 10.9% in 2021, backed by increasing adoption of green transformers leading to up-gradation of associated monitoring system and growing emphasis on improving reliability of power grid. FMI states that, transformer monitoring system market revenue grew by 8.5% between 2016 and 2020. It is predicted that sales revenue will reach US$ 2 billion in 2021 with an astronomical CAGR of 10.1%.

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

Green transformers are gaining popularity due to its low carbon footprint and high efficiency and reliability. To monitor these new transformers retrofit installations are required. Increasing renewable energy penetration and rising sales of green transformers will accelerate the demand for retrofit transformer monitoring system in upcoming years.

According to International Energy Agency, global electricity consumption reached 22,848 TWh in 2019. China, India, Russia, and Brazil account for more than 39% of global consumption. Rise in electricity consumption in developing countries will boost the market sales over the forecast period.

Top manufacturers are striving to reduce the installation cost of the monitoring system and make them more reliable and accurate. However, unpredictability in terms of regulatory policies and strained supply chain system are the key challenges influencing the global market for transformer monitoring systems.

Key Takeaways from FMI’s Transformer monitoring system Market Study

  • North America transformer monitoring system market will exhibit stupendous growth at 10.6% CAGR through 2031, due to rapid industrialization, growing necessity to upgrade monitoring system with respect to transformers in U.S. and Canada.
  • Europe transformer monitoring system market led by Germany is forecast to grow at 7.6% CAGR during the forecast period. Rise in growth can be attributed to rising adoption of green transformers and presence of leading manufacturers in the region.
  • Incorporation of modern monitoring system to tackle power outage and related issues in urban area will drive the demand for transformer monitoring systems in India.
  • Japan and South Korea account for 3% of global transformer monitoring system market share in 2021. Increasing need to monitor large and complex power network and high demand of retrofits installation are key growth drivers in these countries.
  • By product type, software segment is projected to surpass the market valuation of US$ 277 at a CAGR of 10.3% in 2021. Advancement in big data analytics and introduction of internet of things (IoT) in monitoring system will drive the market growth of this segment.

“It will be interesting to see how modernization in electricity transmission system will influence the demand for transformer monitoring system during the forecast period. Rising necessity to upgrade monitoring system to comply with green transformers will boost the market growth in upcoming years,” says the FMI analyst.

Who is winning?

Future Market Insights highlights the key trends emerging in the transformer monitoring system market and discusses the strategies employed by market players to strengthen their market position.

FMI estimated that the power transformer market is dominated by ABB, General Electric, Siemens AG, Maschinenfabrik Reinhausen GmbH, and Groupe Cahors S.A. Out of these top market players ABB holds around 14% of global market share, General Electric holds 10%, Siemens AG holds 12%, Maschinenfabrik Reinhausen GmbH holds 8%, and Groupe Cahors holds 5% of global market share, says FMI.

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

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

Prominent players operating in the transformer monitoring system market are:-

  • ABB Group
  • Siemens AG
  • General Electric
  • Mitsubishi Electric Power Products Inc.
  • Eaton Corporation
  • Hitachi Ltd.
  • Qualitrol Company LLC
  • Koncar-Electrical Engineering Institute Inc.
  • Maschinenfabrik Reinhausen GmbH (MR)
  • CETT Co., Ltd.
  • Groupe Cahors
  • Camlin Power
  • MTE Meter Test Equipment AG
  • Advanced Power Technologies LLC

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More Insights on the Transformer monitoring system Market

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

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

The newest market research study by Future Market Insights on odour control system includes the global industry analysis for 2014–2018 and market forecast for 2019–2029. The study observes the odour control system market and offers detailed perceptions for the forecast period of 2019-2029. According to the analysis and study done in the report, the global odour control system market is anticipated to observe prominent progress, due to increasing adoption in the chemical industry.

The odour control system market is estimated to be valued at ~ US$ 1 Bn in 2019 and is projected to increase by ~ 5% CAGR during the forecast period of 2019-2029.

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The odour control system market has a high potential to grow in regions such as Asia Pacific Excluding Japan (APEJ) and North America. Significant innovations with incorporation of advanced technologies meeting regulations are expected to emerge as a product differentiator in the odour control system market.

Odour Control System Market – Key Research Findings

  1. The market value of global odour control system in 2019 is estimated at ~ US$ 1
  2. During the forecast period of 2019-2029, the odour control system market is anticipated to grow at a CAGR of ~5%.
  3. Adoption of odour control systems in chemical & petrochemical industry is likely to account for relatively high sales over the forecast period.
    • The growth in demand for odour control systems in the chemical and petrochemical industry can be primarily attributed to their increasing usage in existing as well as new industrial plants.
  4. APEJ (Asia Pacific Excluding Japan) is anticipated to hold more than one third of the revenue shares in the odour control system market by the end of 2029.
    • APEJ will continue to be an opportunistic market for odour control system manufacturers and distributors, owing to increasing industrial and infrastructure development.
    • The odour control system market in Japan is also anticipated to grow at significant rate, complying with the stringent regulations imposed by the government for controlling odour emissions through industrial as well as municipal sectors.
  5. Growing concerns towards E-waste maanagement and waste recycling services across the globe are anticipated to drive growth in odour control system installations.

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Key Factors Shaping the Odour Control System Market

  • Advanced Technologies Emerging as Product Differentiators among ManufacturersDue to the growing integration of automation in industrial sector, the demand for cost-effective and advanced products is increasing, which is creating pressure on manufacturers to offer technologically advanced and unique product offerings. Noteworthy investments in research and development to develop unique technologies by manufacturers of equipment can be seen, which will help them differentiate their products in the odour control system market.Manufacturers of odour control system are focusing on automated monitoring systems for consistent supervision and optimization of the performance of odour control systems.
  • Inclination towards Hybrid Odour Control SystemMost of the odour control systems work on the principal of chemical reaction or physical adsorption. However, these technologies are now getting inefficient to adhere the current regulations imposed by several countries and environmental organizations. Also, these technologies are feasible under certain conditions and can eliminate only a few specific compounds, which vary among industries and processes.This, in turn, has raised the need for developing systems, which are effective over a wide spectrum of odorous compounds. Complying with demands, several odour control system market players are developing systems, which use integrated technology working on dual or triple stages to eliminate all possible odorants.These systems are available in different combinations, which can be chemical- adsorption, adsorption-biological, and hybrid of all three, if required. This, in turn, is estimated to project significant opportunities in the global odour control system market.
  • Environmental Concerns and Stringent RegulationsAs the waste generation has turned out as one of the major point of concern affecting water, land, air and scenic quality, several countries are now emphasizing to craft environmental regimes for proper balance between industrial development and environmental impact. Waste to energy initiatives are being undertaken with utmost importnace across the globe in order to reduce carbon emissions and conserve environment.Countries such as China, India, Iran, Saudi Arabia, and others, which are suffering from intense air pollution are strategizing to control the air pollution by imposing stringent regulation and mandating installation of air quality monitoring systems at all new and existing potential emitters. Such initiatives by government are expected to fuel the demand for odour control systems in the above mentioned countries.

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Odour Control System Market Structure Analysis

  • The odour control system market is a moderately competitive market, globally.
  • Strategies followed by key players in the odour control system market are business expansion by acquisitions and mergers, product launches, collaborations and alliances. Key market players focus on strategies such as product expansion and innovation through new dealership networks and collaborations.
  • Noteworthy investments in research and development for novel and sturdy products are anticipated to boost the growth prospects of the odour control system market.

Key players in the odour control system market are Babcock & Wilcox Enterprises, Inc., CECO Environmental., Anguil Environmental Systems, Inc., Evoqua Water Technologies LLC, Scotmas Limited, Ecolab Inc., Tholander Ablufttechnik GmbH, etc.

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

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

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

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

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

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

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

Key Takeaways from Lead Acid Battery Market Study

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

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

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Lead Acid Battery Market by Category

By Product Type:

  • Flooded Battery
  • AGM Battery
  • Gel Battery

By Application:

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

By Sales Channel:

  • OEM
  • Aftermarket

By Region:

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

Competitive Landscape

The lead acid battery market is highly competitive at regional as well as global levels, and highly consolidated in nature. These players are likely to invest in new technology developments and expansion of their networks in order to maintain their market shares.

Some of the key players in this industry include but are not limited to Furukawa Electric Co., Ltd., Narada Power Source Co. Ltd., Clarios, Leoch International Technology Ltd., Enersys, Exide Industries Ltd., GS Yuasa Corporation, East Penn Manufacturing Co., Chaowei Power Holdings Limited., and others.

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Find More Valuable Insights

The research report analyses demand for Lead Acid Battery. The global Lead Acid Battery market has been analyzed with the COVID-19 impact, various macroeconomic factors, market trends and market background. As per Future Market Insights, the market has been analyzed based on product type, power source, and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, supply side and demand factors.

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

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

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Reasons for Covering the Dryer Sheets Market Title

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

Global Dryer Sheets Market: Key Players

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

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

Global Dryer Sheets Market: Key Developments

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

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Opportunities for Global Dryer Sheets Market Participants

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

The study is a source of reliable data on:

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

The regional analysis covers:

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

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

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

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

  • Low
  • Medium
  • High

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

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

Highlights of the report:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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Agricultural Equipment Market – Impact of Government Initiatives

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

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

How is Digital Leasing Affecting Sales of Agricultural Equipment?

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

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

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

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

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

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

Agricultural Equipment Market- Competitive Landscape

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

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

account for 44% of the total market share.

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

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

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

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

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

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

Key Takeaways of Aerial Work Platforms Market Study

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

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

Who is Winning?

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

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

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

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

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Aerial Work Platforms Market by Category

Product Type

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

Platform Working Height

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

Fuel

  • Gas/ Diesel
  • Electric
  • Hybrid

End User

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

Region

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

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About the Report:

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

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

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

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

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

Key Takeaways

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

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

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

Competitive Landscape

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

Some of the key players in the market are

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

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

Refrigerated Display Cases Market

Type

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

Design

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

By End Use

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

By Region

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

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Get Valuable Insights into Refrigerated Display Cases Market Report

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

Condition Monitoring Service Market is projected to surpass the valuation of over US$ 4 Bn by 2030 end

The global demand for condition monitoring services is projected to surpass the valuation of over US$4 Bn by 2030 end. As suggested by a new Future Market Insights (FMI) report, substantial growth in the condition monitoring service market is mainly backed by the growth of the power generation industry, which holds a prominent share of the overall market value, closely followed by the chemical and petrochemical industries.

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Increasing urbanisation and rapid industrialisation are creating massive opportunities for key market players in the automotive & transportation industry, thereby bolstering the adoption of condition monitoring services in global market. On the flip side, the current global coronavirus pandemic is expected to cost global economy about US$ 1 Tn in 2020, as per the UN Conference on Trade and Development. The automotive, logistics, and petrochemicals industries, in particular, are well within the radar of the potential impact of the virus.  Several business executives have halted their manufacturing operations, given the large-scale lockdowns in majority of countries. As the COVID-19 pandemic spreads, condition monitoring services would see a notable decline in their adoption.

Key Takeaways of Condition Monitoring Service Market Study

  • According to our research, the portable machine diagnostic segment is shaping the revenue pool of the condition monitoring service market as the portable equipment is used to analyze data from the sensors, saving time of operation.
  • In current scenario, integration of condition monitoring software with computerized maintenance management services & process control software is an emerging trend in the global condition monitoring service market.
  • North America is a prominent market for condition monitoring services and is expected to continue its hegemony, owing to its strong industrial growth and high adoption of the services in the region.
  • In the global condition monitoring service market, over 55% of the revenue comes through vibration analysis and oil analysis segments. Rising focus on maintenance in order to minimize the asset downtime is fueling the deployment of both the techniques.

In order to minimize the asset downtime, it is necessary to monitor the assets continuously or in regular intervals, especially in facilities such as power generation and petrochemical plants. Given the criticality of highly accurate results in such facilities, manufacturers are striving to further develop condition monitoring software that can be integrated into the services to record the data.

How Growth will Unfold

The ability of vibrational analysis to predict possible deformities makes it a preferable technique to enhance asset efficiency, plan maintenance, and avoid unscheduled standstill. About 7 out of 10 players in condition monitoring service market are investing in vibrational analysis. On the other hand, devising a proper oil analysis framework is essential in sustaining plant operations.

FMI finds that inefficient lubrication methods result in over 50% of machinery and bearing deformities. Consequently, market players are also shifting capital investments toward oil analysis technique.

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CONDITION MONITORING SERVICE MARKET TAXONOMY

Technique

  • Vibration Analysis
  • Corrosion Monitoring
  • Infrared Thermography
  • Ultrasound Testing
  • Motor Condition Monitoring
  • Oil Analysis

Operation

  • Route Based Monitoring
  • Portable Machine Diagnostics
  • Online Machine Monitoring
  • Online Machine Protection
  • Factory Assurance Test

End Use Industry

  • Oil & Gas
  • Power Generation
  • Aerospace & Defense
  • Automotive & Transportation
  • Marine
  • Mining & Metal
  • Food & Beverage
  • Chemical & Petrochemical

Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA

Competition Landscape Analysis

The global condition monitoring service market is slightly competitive, with the presence of moderate number of local and global manufacturers. Key manufacturers such as SKF, Fuji Electric, Siemens AG, ABB, Honeywell International Inc., Meggit PLC, General Electric, and Parker Hannifin Corp. account for nearly half of the share of the overall market. Manufacturers are focusing on strengthening their product portfolio by launching advanced condition monitoring services and collaborating with end users.

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South Asia Represents Potential Growth Avenues

The demand for condition monitoring services is expected to gain traction in South Asia in the coming years, owing to increasing investments in power generation, and petrochemical industries. Governments in countries such as India, and Indonesia are encouraging private sector players to minimize the deficit in power in order to fulfill maximum power requirements. This, in turn, is underpinning the condition monitoring service market in the region.

Electric Motor Market Valued At Over US$104 Bn In 2021, Will Expand To Over 5.1% CAGR From 2021 To 2031: FMI

[300 Pages Report] The Electric Motor Market to exhibit year-on-year (YoY) growth of 4.2% in 2021 to total 1.2 billion units. As per the report, demand in the DC motors segment will grow by 2.2% to 339 million units in 2021, while the AC Motors segment was up 5.1% to 837 million units. 

Global sales of electric motors will be valued at over US$104 Bn in 2021, with a stable long-term projection, according to the latest insights by Future Market Insights (FMI). A new report estimates the market to expand to over 5.1% CAGR from 2021 to 2031.

Driven by increasing focus on research and development and investment in Industrial sector, the electric motor market will rise at 5.6% CAGR between 2021 and 2031 in comparison above 3.8% CAGR registered during 2016-2020.

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According to Future Market Insights (FMI), increasing automation and robotics in industrial production sector has fueled the demand for electric motors. The market also is gaining from rapid technological advancement and advent of industrial 4.0.

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

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

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

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

Key Takeaways from Electric Motors Market Study

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

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

Who is winning?

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

Some key players in this industry include but are not limited to General Electric, Robert Bosch GmbH, Hitachi, Ltd., Nidec Corporation, WEG S.A., Siemens AG, ABB Group, Regal Beloit Corporation, Toshiba Corporation, Johnson Electric, Hyosung Corporation, Schneider Electric SE, Bonfiglioli Riduttori S.p.A., Kirloskar Electric Company Ltd., Allied Motion Technologies Inc., East West Manufacturing, LLC, Hyundai Electric Co. Ltd.

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Electric Motor Market by Category

Power Output:

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

Product Type:

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

By Application:

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

By End Use:

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

By Region:

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

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Find More Valuable Insights

The research report analyzes demand for Electric Motors. The global electric motors market has analyzed with the COVID-19 impact, various macroeconomic factors, market trends and market background. As per Future Market Insights, the market has analyzed based on power output, product type, application, end use and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both supply side and demand factors.