Market Research Blog – Page 16021 – New Product Development

Europe Wood Pellet Heating Systems Market is expected to grow at a CAGR of ~3% during 2019-2029: FMI

The Europe wood pellet heating systems market was valued at ~US$ 4.7 Bn in 2018, and is estimated to increase at a CAGR of ~3% during the forecast period of 2019-2029. This growth is majorly driven by the increasing consumption of wood pellet heating systems in commercial, residential, as well as industrial sectors.

The Europe wood pellet heating systems market was valued at ~US$ 4.7 Bn in 2018.
The wood pellet heating systems market is expected to grow at a CAGR of ~3% during the forecast period of 2019-2029.
Operational efficiency & economic benefits ensure high demand for wood pellet heating systems.
Collectively, Italy and France markets are estimated to account for ~50% of the sales in the wood pellet heating systems by the end of 2029.
- Italy is expected to be the key revenue maker for wood pellet heating systems, owing to government subsidies and incentives for installation of biomass heating systems.
Commercial sector is expected to remain a prominent investment area for wood pellet heating systems market players.
- Noteworthy application potential of wood pellet heating systems has been identified in heat and energy generation purposes.

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With the emergence of smart technologies and convenience trends among consumers, manufacturers of wood pellet heating systems are focused on incorporating advanced control panels and add-on features to their products to maintain innovation supremacy in the market, according to FMI’s analysis.

A new market research report by Future Market Insights on the wood pellet heating systems market includes Europe industry analysis 2014–2018 and opportunity assessment 2019–2029. The report investigates the wood pellet heating systems market and provides critical insights for the forecast period of 2019-2029. As per the findings of the report, the Europe wood pellet heating systems market is expected to experience substantial growth during the forecast period due to multiple driving factors, such as smart technologies & mobility heightening attractiveness of wood pellet heating systems over conventional ones and limited emission of air pollutants.

Rising Market Attractiveness of Nordic Countries

Italy is projected to hold significant value share in the Europe wood pellet heating systems market due to rising prices of fossil fuels and federal environmental sustainability strategies. However, the Nordics region, followed by Benelux, is expected to project lucrative growth in the Europe wood pellet heating systems market during the forecast period of 2019-2029. Denmark market is estimated to be prominent in Nordics, by holding ~20% of the market value share, and is expected to remain prominent till 2029.

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Commercial Sector – Key End-use Area of Wood Pellet Heating Systems

The Europe wood pellet heating systems market has been segmented on the basis of product, end use, and countries such as Germany, Italy, France, the U.K., Spain, Nordics, Benelux, Russia, and Rest of Europe.

On the basis of product, wood pellet stove is estimated to hold significant shares of the Europe wood pellet heating systems market in terms of value. By the end of 2029, sales of wood pellet boilers are likely to take over the stove variants.
By end use, the residential sector is projected to hold significant share of the Europe wood pellet heating systems market. Residential adoption of wood pellet heating systems is expected to be prominent across all countries, owing to the increasing inclination towards biomass heating systems, advanced technologies, and optimum efficiency of wood pellet heating systems over conventional systems. However, the usage in industrial sector, followed by commercial, is expected to grow at a high CAGR.

Wood Pellet Heating Systems Market: Vendor Insights

The report lists some of the prominent market players, who are recognized as leaders in the Europe wood pellet heating systems market. Some of the key players in the Europe wood pellet heating systems market are

Ferroli S.p.A., BioCurve, ÖkoFEN Research and Development Ges.mbH, Linea Trovata, HAAS + SOHN OFENTECHNIK GMBH, Erwin KOPPE – Ceramic Heaters GmbH, Fröling GmbH, Biotech Energietechnik GmbH, KWB – Kraft und Wärme aus Biomasse GmbH, Gilles Energie- und Umwelttechnik GmbH & Co KG, Solarfocus GmbH, Windhager Zentralheizung GmbH, Guntamatic Heiztechnik GmbH, ETA Heiztechnik, HARGASSNER GmbH, and Burkhardt GmbH.

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The Europe wood pellet heating systems market is considerably fairly fragmented with some players holding prominent shares of the market. These players are offering Wood pellet heating systems under several brands.

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Commercial Refrigeration Equipment Market will progress at a moderate CAGR over 2019 – 2029.

Witnessing an uptick of 3.4% over 2018, the worldwide sales of commercial refrigeration equipment will exceed revenues worth US$ 46 Bn by 2019 end. As indicated by a recent research study of Future Market Insights (FMI), the market for commercial refrigeration equipment will progress at a moderate CAGR over 2019 – 2029. The demand would be prominently driven by greater production of F&B goods and a preferential shift of consumers towards quick service restaurants (QSRs), at a global level.

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Sustainable and energy-efficient refrigeration systems are set to become a norm across the end-use industries, which should compel manufacturers to increase their investments in R&D and product innovations. Leveraging energy-efficient technologies to offer low global warming potential (GWP) products with rich functionalities will be the ticket to capturing significant market share in the long run.

COMMERCIAL REFRIGERATION EQUIPMENT MARKET KEY TAKEAWAYS

Growing demand for ready-to-eat products and expanding retail outlets are driving the sales of commercial refrigeration equipment. North America and Europe would collectively account for over half of the market value share by 2029 end. The food services sector will remain prominent application area to invest in, for commercial refrigeration equipment market players. The enforcement of new refrigerant regulations such as the EPA 680 Upgrade, and the Kigali Amendment for the phase-down of HFC refrigerants will largely impact the market growth. The higher average unit cost of freezers & refrigerators allude lower volume sales vis-à-vis value gains, with just about 2.6 million unit sales in 2018. Glass door merchandizers that account for around a third of total volume sales continue to see relatively low revenue generation as compared to freezers & refrigerators. Sales of beverage dispensers and display cases across end-use industries will show a moderate increase year-over-year in 2019, which will collectively represent nearly 16% of total commercial refrigeration equipment sales in that year.

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Manufacturers who are keeping the innovation quotient high and providing turn-key solutions to meet regulatory requirements, with safety to end users at the core, will be rewarded in the long run.

Chinese Players Striving to Win Home Market

In developed markets, rapid acceptance of alternative refrigerants to benefit from regulatory standards along with expansion of F&B processing industries continue to contribute to the development of the commercial refrigeration equipment market. The growth of Asia Pacific’s commercial refrigeration equipment market was influenced by a shift of Asian eating habits towards western-style convenience food. With the ability to manufacture their own compressors, Chinese companies are gaining competitive edge to reign supreme in their home market with indigenous brands.

Competition Trends

In 2018, the top four stakeholders including Carrier Corporation, Daikin Industries, Ltd., Danfoss A/S, and Hussman Corporation collectively accounted for 20-25% revenue share. The emergence of a large number of small players in developing countries has resulted into price competition, with leading market players losing their profit margins. Market fragmentation will continue through 2029, driven by regional regulatory norms and enhanced capabilities of the local players.

COMMERCIAL REFRIGERATION EQUIPMENT MARKET TAXONOMY

The global commercial refrigeration equipment market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.

By Product

Beverage Refrigerator
- Drinking Fountain
- Soda Fountain
- Beer Dispensing Equipment
- Beverage Coolers
Freezers & Refrigerators
- Freezer & Chillers
  - Blast Chiller/Stock Freezers
  - Contact Freezers
- Refrigerators
  - Walk-in-Refrigerators
  - Reach-in Refrigerators
Transportation Refrigerators
- Trailers
- Trucks
- Shipping Containers
Glass Door Merchandizers
- Hinged Door
- Sliding Door
Display Cases
- Ice Cream Cabinets
- Bakery/Deli Display
Beverage Dispensers
Refrigerated Vending Machine
Ice Machine
Ice Cream Machine

By Application

Food Services
Food & Beverage Retail
Food & Beverage Production
Food & Beverage Distribution

By Region

North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East and Africa

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Learn More About What the Report Covers

This FMI report is an extensive analysis of the global commercial refrigeration equipment market that offers actionable insights on how the market growth will unfold over the forecast period, 2019 – 2029. The market for commercial refrigeration equipment has been categorized into various segments, for analysis, on the basis of the type of refrigeration equipment, application area, and region. The study provides valued information on key competition trends and most preferred developmental strategies of leading market brands

Global Scissor Lifts Market lifts to reach a market value of ~US$ 4.5 Bn by 2031.

Surging construction activities will be boost sales of scissor lifts. In a new study Future Market Insights (FMI) has projected the global market for scissor lifts to reach a market value of ~US$ 4.5 Bn by 2031.

With rental companies playing a pivotal role in the scissor lifts market, organization in the rental industry are expected to focus on expanding their network across developing countries, creating new growth prospects for manufacturers.

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While the growth projections for scissor lifts market remaining strong, the ongoing COVID-19 pandemic crisis is anticipated to cause a minor strain in demand. Disruptions witnessed in manufacturing units and supply chain networks due to shutdowns in a number of countries are expected to affect the consumption of Scissor Lifts. However the market is expected to recover in year 2021.

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.

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

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What’s the Future Outlook?

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.

Who is winning?

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.

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About Industrial Automation Division at Future Market Insights

The Industrial Automation & Equipment division at FMI adopts a novel approach and innovative perspective in analyzing the global machinery and industrial automation market. A range of FMI’s market research reports offer comprehensive coverage of capital, portable, process, construction, industrial, and special purpose machinery used across manufacturing sector. The team also conducts distinctive analysis about installed base, consumables, replacement, and USP-feature application matrix, making us a prominent voice of authority in the industry. We are associates of choice for established as well as budding industry

Bulk Material Handling System Market By System Type, By End User, By Region, Industry Analysis and Forecast, 2021 – 2031

The bulk material handling systems market was estimated at US$ 5.1 Bn in 2021 and is projected to register a CAGR of about 2% over the forecast period.

The global sales of bulk material handling system are forecast to grow from 13,000 units in 2021 to over 14,000 units by the end of 2031. FMI projects moderate growth for bulk material handling system market at an overall compound annual growth rate (CAGR) of 2% between 2021 and 2031.

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Key Takeaways of Bulk Material Handling Systems Market Study

Key players focus on expansion of footprint in the developing countries, which also involves moving new products into new markets such as the Middle East, China and India where construction industry registered a double digit growth in the past decade.
As per the recent trend in the mining industry in the Americas and Asia Pacific, the demand for bulk material handling systems is expected to be from open or surface pit mining especially for coal and ferrous mining.
Since the rental and leasing service is a strong aspect of the bulk material handling systems market, many players have incorporated rental services as business segment while directly selling bulk material handling systems.
Band conveyor and stackers have been identified as the most recognizable bulk material handling systems as they are capable of accomplishing various tasks such as stock piling and transportation, particularly in packaging and manufacturing end use industries.

“Rental services play a pivotal role in the bulk material handling systems market, as these equipment are capital intensive. Hence, to gain profits in this market, players can focus on offering rental and leasing services while also directly selling bulk material handling systems,” says an FMI analyst.

Bulk Material Handling Systems: Competition Scenario

The bulk material handling systems market is assessed to be fragmented market, where market players such as Hitachi Construction Machinery Co., Thyssenkrupp, Kawasaki Heavy Industries, Ltd., Liebherr Group, and Sumitomo Heavy Industries are estimated maintain their dominance in the market throughout the forecast period, and have strong order inflow.

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The increasing exploration and production (E&P) activities in oil & gas and mining industries coupled with burgeoning demand from construction industry as a result of growing infrastructural projects is expected to led to high volume orders of bulk material handling systems in the global market.

Increasing awareness of benefits and the resulting demand for automated bulk material handling systems is anticipated to reflect optimistically on the market growth rate of conveyors and stackers.

Though E&P activities in Europe are recovering, the region is projected to foresee healthy growth, attributable to the promising dynamics in the rest of the end-use industries that deploy bulk material handling systems, such as packaging and manufacturing.

By Segmentation:

Application

Mining
Packaging
Construction
Manufacturing
Sea Ports & Cargo Terminals

Equipment

Stacker
Stacker cum Reclaimer
Band Conveyor
Bucket Wheel Excavator
Stripping Shovel
Rope Shovel
Bucket Elevator
Ship Loader and Unloader

Region

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

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The global bulk material handling systems market report published by Future Market Insights details an extensive market analysis for the projected period of 2021-2031. The bulk material handling systems report offers a comprehensive analysis of major equipment across various end use industries with their regional market dynamics and sales forecast. The study contains information about emerging market opportunities over the forecast period, and also highlights supply trends, key considerations for manufacturers, and other macro-and-micro factors impacting the growth of the bulk material handling systems market.

Industrial Valves Market is expected to grow at a CAGR of ~4% : FMI

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 favour the growth of market over coming years.

The steady expansion of chemical industry and revival of oil & gas industry are also likely to play a crucial role in pushing sales of industrial valves at a global level. FMI’s report shows that abundant opportunities exist in chemical, and water & wastewater industries.

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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 2/3^rd of total sales, FMI foresees a rapidly progressing market scenario for automated valves in the next few years.

By type, the gate type of industrial valves segment is expected to hold prominent value shares of the global industrial valves market. 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. Several 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 based on materials reveals 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 shown 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.

Owing to the effects of macroeconomic factors such as growing population, urbanisation, and rapid industrialisation, the confidence of investors and investments in housing and other residential projects across APEJ has increased drastically. The region’s chemical has considerable momentum over the past few years. This overall scenario is translating into modest growth in the demand for valves across the multiple industries, eventually pushing the market growth potential of APEJ.

Industrial Valves Market: Vendor Insights

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.

The global industrial valves market is significantly consolidated, with some players holding prominent shares of the market. These players are offering industrial valves under their popular brands such as Cameron, and World Valves, among others.

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Industrial Valves Market – Key Research Findings

The global industrial valves market size in 2018 was ~US$61 Bn.
The industrial valves market is expected to grow at a CAGR of ~4% during the forecast period of 2019-2029.
Besides adoption of automatic functions of valves, the increasing demand for manual structures has been recently driving the sales of industrial valves.
Collectively, Asia Pacific Excel. 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 powerful presence of the oil & gas industry, will continue to be a prominent regional market for industrial valves manufacturers.
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 in the recent past, and the revival of the oil & gas sector has been noteworthy.
- Noteworthy application potential of industrial valves has been identified in the water & wastewater treatment.

Synchronous Condenser Market Report | Size, Growth, Demand, Scope, Opportunities and Forecast 2019-2029

The global synchronous condenser market was valued at ~US$ 760 Mn in 2018, and is estimated to increase at a CAGR of ~8% during the forecast period of 2019-2029. This growth is majorly driven by the integration of renewable energy through solar and wind power plants and increasing installation of synchronous condensers to carry robust functioning of the power plants.

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Key Takeaway:

The global synchronous condensers market size in 2018 was ~US$ 760 Mn.
The synchronous condensers market is expected to grow at a CAGR of ~8% during the forecast period of 2019-2029.
Besides increasing the adoption of sustainable energy solutions and solar and wind plants, HVDC projects are also driving the sales of synchronous condensers.
Collectively, North America, Europe, Middle East and Africa, are likely to account for half of the revenue shares in the synchronous condensers industry by the end of 2029.
- North America, attributing to the strong presence of the renewable energy industry, will continue to be a prominent regional market for synchronous condensers manufacturers.
The power generation industry, along with nuclear power plants and mining industry, is expected to remain prominent application area for synchronous condensers market players to invest in.
- Power generation industries such as solar, wind, and thermal plants, have witnessed significant growth over the recent past, and revival of this sector has been particularly noteworthy owing to the increasing environmental concerns.
- Noteworthy application potential of synchronous condensers has been identified in the water cooled synchronous condensers segment.

Rapid inclination towards wind and solar energy, in an attempt to reduce the dependency on fossil fuels has been generating significant demand for synchronous condensers in recent years. According to FMI analysis, manufacturers are setting their sights on countries, such as China which is making great strides to increase energy production from non-fossil fuel sources.

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Newer Opportunities Identified in Middle East & Africa

Regions such as North America and Europe, are likely to hold prominent market shares in terms of value. However, the South Asiam market is estimated to project lucrative growth in the global synchronous condenser market over the forecast period of 2019-2029. This growth in the region is propelled by the rapid technological advancements and growing number of HVDC projects in prominent countries such as India and Indonesia, among others.

By Segmentation:

By Product

New synchronous condenser
Refurbished synchronous condenser

By Cooling Type

Air cooled
Hydrogen cooled
Water cooled

By Power Rating

Less than 50 MVAR
50 to 80 MVAR
80 to 100 MVAR
100 to 150 MVAR
150 to 200 MVAR
Above 200 MVAR

By Starting Method

Static frequency converter
Pony motors
Others

By End Use

Electrical power utilities
- Electric grids
- Solar farms
Mining
Commercial
Others

By Region

North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East
Africa

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Furthermore, the market of synchronous condensers is expected to grow predominantly in prominent countries of Middle East and Africa including Saudi Arabia, Kuwait, Qatar, Abu Dhabi, Nigeria, and U.A.E., owing to various macroeconomic factors such as growing urbanization, stable political & social backdrop, and rapid industrialization. Increasing number of market players in the region have gained the confidence of foreign investors and grid operators to invest in the market.

Moreover, refurbishment of synchronous condensers from old conventional plants and generators to new machines have added expressively positive momentum over the few past years. Also, rapidly growing number of HVDC projects in MEA and installment of sustainable energy plants have boosted the demand for synchronous condensers to provide stability and robust functioning of power plants. These factors have resulted in significant growth of the synchronous condenser market in the region.

Telecom Tower Power System Market is expected to reach US$6.7 Bn by 2031.

[275 Pages Report] The telecom tower power system market is expected to register year-on-year growth at 5.8% in 2021, with the overall valuation forecast to reach US$3.5 Bn. As per a Future Market Insights (FMI) analysis, sales of telecom tower power systems is expected to increase at 6.7% CAGR between 2021 and 2031.

According to the study, the overall telecom tower power system market worth is expected to reach US$6.7 Bn by 2031. While outdoor telecom tower power systems are expected to remain dominant, indoor telecom tower power system will witness a surge in demand, exhibiting growth at 7.1% CAGR in 2021.

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2016-2020 Telecom Tower Power System Market Outlook Compared to 2021-2031 Forecast

Revenue generated by the diesel generator + battery segment of the telecom tower power system market rose strongly in 2021. Demand grew by 5.6% between 2020 and 2021, enabling growth in the telecom tower power system market.

Growth registered can be attributed to the demand for energy efficient power systems across the globe. The demand for telecom tower power systems has increased consistently with the advent of 5G technology across the globe in recent years.

Key factors fueling telecom tower power systems demand include initiatives undertaken in introducing green telecom power systems. Leading power system manufacturing companies are focusing on expanding their production and distribution capacities in various countries. To improve their industrial research activities, some companies are collaborating directly with regional manufacturers.

The renewable energy is among the leading power sources, influencing demand for telecom tower power systems. China has emerged as a highly lucrative market for the production and export of telecom tower power systems. This can be attributed to increasing demand for electronic products, coupled with the adoption of advanced technologies and higher production capacities.

Will the COVID-19 Crisis Hamper the Telecom Tower Power System Market?

Lockdown restrictions have negatively impacted the global telecom tower power system market. Limited production and transportation delays have created obstacles amid the pandemic. With the consecutive waves of the novel coronavirus tightening noose across the world, production and distribution efforts have been impacted.

Several industries such as automobile, electronics, and construction have been adversely impacted. Increasing demand for electric products has resulted in higher adoption rates for power systems for expanding telecom infrastructure across the globe.

Despite the difficult situation, economies are steadily recovering in 2021. Company activities have begun to recover as supply and distribution networks improve. Against this backdrop, the pandemic is unlikely to have a long-term effect on the telecom tower power system market.

Category-wise Insights

Why is the Demand for Outdoor Telecom Power Systems Getting Stronger?

Based on telecom tower power system products, outdoor telecom power systems hold the lead, accounting for nearly 54% of the market in 2021. Outdoor telecom tower power systems are available in different configurations, and they are designed to protect equipment from external threats in varied climatic conditions with energy efficient solutions and high-performance, creating attractive growth prospects.

Outdoor telecom tower power systems are expected to remain the top choice, owing to requirements of performance efficiency and cost-effective solutions to reduce the risk of power fluctuations and failures.

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Which Power Source Accounts for Higher Sales of Telecom Tower Power Systems?

Diesel generator + battery power sources are estimated to hold the largest revenue share of more than 41% in 2021 owing to rising investments in telecom infrastructure projects in rural areas, which is crucial in connecting rural areas with other parts of the world with effective telecommunication networks.

Rise in high-performance, energy efficient power systems will propel the demand for diesel generator + battery systems, and is expected to support the interest for telecom tower power systems during the forecast years, to meet uninterrupted power supply requirements.

Telecom Tower Power System Market by Category

By Product Type:

Outdoor Telecom Power System
Indoor Telecom Power System

By Power Source:

Diesel Generator
Diesel Generator + Battery
Renewable Energy
- Solar
- Wind Turbine
- Biomass

By Region:

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

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Competitive Landscape

Companies operating in the telecom tower power system market are aiming for strategic collaborations and partnerships with other manufacturers to expand their product manufacturing capacity to address the growing demand of an expanding consumer pool.

For instance, in December 2020, Ballard Power Systems signed an agreement with Eltek Nordic (Delta Electronics Inc.) to develop fuel cell backup power systems for communication networks. The collaboration aims to provide reliable backup power solutions for telecom networks and other critical communication infrastructure, with a focus on Nordic countries, primarily Norway, Denmark and Iceland.
In June 2021, Ryse Energy entered the Tower Automation Alliance, which aims to coordinate hybrid renewable energy projects for telecom tower infrastructure.
Advent Technologies Holdings Inc. announced an acquisition agreement with the Fischer Group for its fuel cell systems segment for remote and off-grid power requirements.

Medium Voltage Transformer Market Current Scenario Trends, Comprehensive Analysis and Regional Forecast to 2029

Future Market Insights has published a new market research report on the medium voltage transformer market that contains global industry analysis during 2014–2018 and opportunity assessment during 2019–2029. The report covers the latest trends, key success factors, market influencing factors, key information, forecasting factors, macroeconomics factors, and past market scenario. The report analyzes the medium voltage transformer market and provides critical insights for the forecast period of 2019-2029. The global medium voltage transformer market size is estimated to reach ~US$ 10 Bn in 2019, and expand at a CAGR of ~5% during the projected period of 2019-2029.

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As per the key findings of the report, the global medium voltage transformer market is expected to witness considerable growth in upcoming years, due to the steady increase in adoption of smart grids, increasing urbanization, rapid growth in power generation, and increasing government investments for electrification.

Increasing Government Investments for Electrification Expected to Drive the Market Growth

Government of various countries have planned to increase their funding for various projects related to electrification, such as railway electrification, transmission and distribution, and urbanization, among others. For instance, governments in countries such as Brazil and Mexico are planning to invest in electrification.

These projects support the state electric boards (SEBs) in order to provide better power supply to rural and urban areas of the region or country. In addition, the government of India is also planning to make huge investments in numerous projects, such as Revised Accelerated Power Development and Reform Program and Rajiv Gandhi Grameen Vidyutikaran Yojna, among others, for establishing new power grids so as to provide electricity in the rural areas of the country.

Also, the government is focusing on installing new transmission lines and transformers in order to create a national grid, which will interconnect all the five regions of India — Northern, Southern, Eastern, Western, and North Eastern. This national grid is known as ‘Transmission Super Highways’. Thus, growing infrastructure and electrification in various regions is set to increase the demand for medium voltage transformers.

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Increasing Urbanization and Industrialization Estimated to Create High Sales Opportunity

Rural electrification projects, new power plants, as well as transmission and distribution facilities are some of the new developments that are being introduced in various countries in Middle East & Africa to increase urbanization and industrialization. Electrification projects are growing at a faster rate in countries, such as the United Arab Emirates, Qatar, Turkey, etc. Additionally, for the proper execution of these projects, medium voltage transformers are required for almost all applications. Thus, growing urbanization and industrialization will drive the medium voltage transformer market growth in the MEA region.

By Segmentation:

Rating

1,200 kVA, 1,500 kVA, 2,000 kVA, 2,500 kVA,

Product Type

Dry, Oil Immersed, VPI,

Configuration

Single Phase,Three Phase

Application

Building Establishment, Residential, Commercial, Civil Infrastructure, Industrial, IT – Data & Server Centers,

Region

North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, MEA.

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Competitive Analysis:

The report highlights some of the prominent market players, who have established themselves as leaders in the global medium voltage transformer market. Few examples of key players in themedium voltage transformer market are Siemens AG, ABB Group, General Electric Company, Fuji Electric Co., Ltd., Hitachi, Ltd., Schneider Electric SE, Eaton Corporation PLC, Mitsubishi Electric Corporation, Jinpan International USA Ltd., CG Power & Industrial Solutions Ltd., Fortune Electric Co., Ltd., Schaffner Holding AG, Hammond Power Solutions Inc., Kirloskar Electric Company, and MGM Transformer Company, Amran Inc., among others.

Sulphur Recovery Technology Market Value to Grow by Almost $1.2 Billion During 2021-2031

According to the recent research report published by Future Market Insights, the sulphur recovery technology market is expected to exhibit an impressive CAGR of 11% during the forecast period of 2021-2031.

Newly released data by Future Market Insights (FMI), projects that the sulphur recovery technology market will reach valuation of US$ 1.2 Bn by 2021 and is expected to grow at compound annual growth rate (CAGR) of 11% for 2021 – 2031. The increasing production of shale gas will accelerate the growth with top market players holding 2/5th of sulphur recovery technology market share in 2021.

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Growth predictions remain positive for Europe due to increasing government expenditure on oil and gas industry and presence of leading market players in the U.K. and Germany. Spurred by this, the Europe sulphur recovery technology market is projected to grow at about 12% CAGR during the forecast period.

Key Takeaways of Sulphur Recovery Technology Market Study

Increasing exploration and production activities, especially those associated with shale gas, led to high demand for sulphur recovery technology units from refineries. Production of recovered sulphur from gas refining activities is increasing significantly, attributable to the rise of major gas refining activities across the globe.
In terms of plant capacity, there is a rising demand for sulphur recovery technology units with capacity of less than 100 t/d, owing to lower emission footprint, ease of upgradation, and relative cost-effectiveness as compared to other units.
Stringent environmental regulations regarding emission of hydrogen sulfide mainly released during oil & gas extraction, treatment, transportation, and refining are boosting the demand for development of cost-effective desulphurization technologies. For instance, environment legislation of EU (European Union) sets the standards for oil & gas refineries industries in Europe.
The oil and gas production in prevailing refineries is expected to have a greater impact on the growth and development of the global sulphur recovery technology market in comparison to new refinery bases.
In terms of value and volume, Europe and the MEA are identified as dominant regions throughout the forecast period. Increasing number of refineries projects in countries in Europe and MEA such as Saudi Arabia, Kazakhstan, and Russia, are expected to supplement the demand for sulphur recovery technology. These countries also have oil reserves, which in turn support the demand for sulphur recovery technology.

“APAC is one of the majorly profitable markets for players offering sulphur recovery technology, attributable to the establishment of new refineries to cater to growing demand for new gas refining units in the region,” says an FMI analyst.

Competitive Landscape:

The global sulphur recovery technology market has remained competitive with the presence of giant players having expertise in advanced manufacturing technologies, and product offerings for diverse applications.

Bechtel Corporation
Linde AG
Royal Dutch Shell Plc
Exxon Mobil
Jacobs Engineering Group Inc
Technip FMC plc CB&I
Chiyoda Corporation
Worley Parsons Ltd
GTC Technology
KT-Kinetics Technology SpA.

Such key players are adopting strategies such as expansion, acquisitions, and product launches, and are creating challenges for small-scale players.

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By Segment:

Technology

Claus Process
Tail Gas Treatment

Source of Recovery

Oil
Gas
Others

Capacity

<100 t/D
101-200 t/D
201-300 t/D
>300 t/D

Region

Asia Pacific
North America
Latin America
Europe
MEA

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Regional Outlook:

Future Market Insights comprehensively analyzed the sulphur recovery technology market by segmenting it into four regions- Americas, Asia Pacific, Europe, and the Middle East & Africa. In terms of value, Middle East & Africa is estimated to dominate the global sulphur recovery technology market.

However, on the basis of annual growth rate, the North America is expected to register an impressive growth at 19% CAGR in the global sulphur recovery technology market in 2021, owing to increasing oil & industry in this region.

Europe market is also projected to grow at 12% CAGR throughout forecast period, on the back of substantial consumption of sulphur recovery technology in the region.

global vibrating screen market is estimated to increase at a CAGR of ~7% During 2019 and 2029: FMI

Future Market Insights (FMI), in its latest research, evaluates the vibrating screen market which includes global industry analysis 2014–2018 and opportunity assessment 2019–2029. The report investigates the vibrating screen market and provides critical insights for the forecast period of 2019-2029. As per the research, the global vibrating screen market was valued at ~ US$ 1 Bn in 2018, and is estimated to increase at a CAGR of ~7% between the forecast period of 2019 and 2029.

The Battle between Polymeric Integration and Ebbing Demands

Vibrating screens made of polyurethane materials are ideal for grading, dehydration and processing of coal, iron ore, gold and other minerals on account of their ability to separate most of the materials from coarse stones to granular materials, making them a perfect fit for both dry and wet materials.

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Upswing in mining processes to suffice the requirement for precious metals and hard rock minerals as well as in construction activities to build infrastructure assets is the messiah of pain points of the global vibrating screen market, suggests FMI. On the contrary, the growth trail will get hindered by tumbling mining operations on grounds of environmental amendments to curb carbon footprint and high attrition rate among miners due to on-site adversaries.

Vibrating screens have been hitting the mark with innovations over the years as sieving equipment in grading and screening of the required material, which would have been otherwise impossible. FMI’s study suggests that major market players are including add-ons to the existing and new equipment for better screening efficacy and elongated life-cycle.

Demand for Circular Vibrating Screens in Mining Industry to See an Upturn

Circular vibrating screens are inundating more than half of the market revenues, as per FMI’s study. The mining industry, including coal mines, and quarrying sites, is leveraging circular vibrating screens owing to their ability to classify materials with large specific gravity, large particles and great rigidity. The exciter of circular vibrating screens is mounted above the center of gravity of the screen box and the upper tip of elliptical long axis of the feeding end is positioned towards the leakage direction, which results in higher processing capacity per unit time than that of its linear counterpart.

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On the flip side, the complexity of shakers and fast-rate rotation of the two shafts in linear vibrating screens imply high fueling demands. Further, the FMI’s study finds that linear vibrating screens are chiefly utilized for classification of fine particles, light weight, and low stiffness materials, making them suitable for industries such as, building materials, chemical, and pharmaceutical.

Market Taxonomy

The global vibrating screens market is segmented in detail to cover every aspect of the market.

By Product Type

Linear Vibrating Screens Circular Vibrating Screens Elliptical Vibrating ScreensBy Drive Type

Direct Drive Indirect DriveBy End-Use Industry

Construction Mining Recycling Others (Iron & Steel, Power, etc.)By Region

North America Latin America Europe East Asia South Asia Oceania Middle East & Africa Emerging Countries China Australia SerbiaManufacturers showing Stauncher Inclination toward Direct Drive System

As per the FMI’ report, adoption of direct drive system in vibrating screen accounts for more than 50% of the market revenues owing to the absence of gearboxes and belts in the design, which results in lesser wear and tear between the components. The direct drive system is cost-efficient as the moving parts in the operation and framework are less complicated. For noise abatement, the direct drive system comes up with simple arrangement and lesser moving components which may vibrate during mechanism. Furthermore, the reduced number of kinetic parts prevent easy loss of energy due to friction, enabling better efficacy, improved accuracy and increased life-cycle of the vibrating screen components. The indirect drive system, on the other hand, is subjected to friction between constituents including, gears, couplers, and pulleys, implying decreased efficiency and precision.

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About Industrial Automation Division at Future Market Insights

This study tracks the growth of global Vibrating Screen Market over the course of 2019-2029. For more insights, write to the analyst at press@futuremarketinsights.com