Market Research Blog – Page 1635 – New Product Development

FMI Report Projects Global Ice Cream Service Supplies Market Valuation to Exceed USD 13,797.5 Million by 2033, Surging at 4.6% CAGR Growth

The global ice cream service supplies market is poised to achieve a valuation of USD 8,800 million by 2023, according to reports from Future Market Insights. Projections indicate a steady growth trajectory with a 4.6% compound annual growth rate (CAGR) from 2023 to 2033, ultimately reaching a remarkable valuation of USD 13,797.5 million by the end of 2033.

The ice cream service supplies industry has encountered challenges stemming from disruptions in the supply chain distribution, leading to regional constraints on freighting and shipping, thus impacting ice cream sales. However, the market has swiftly rebounded from the pandemic, as normalcy has resumed with the return of a substantial labor force to production units. Furthermore, in-situ sales via supermarkets, retail outlets, and convenience stores have witnessed a resurgence, bolstering market sales.

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Post-pandemic, several companies have reported a notable surge in the take-home segment of the ice cream market. Traditionally, the impulse category held a dominant share of 60%, whereas the take-home category accounted for 30% of sales. However, there has been a significant shift towards take-home purchases, reflecting changing consumer preferences and behaviors in the wake of the pandemic.

Growth Factors

The global ice cream supply market is experiencing significant growth driven by product innovations, particularly in terms of taste and natural ingredients. There is a notable trend towards natural flavors and preservative-free ice creams, reflecting consumer preferences for healthier options. The increasing adoption of vegan diets and the growing lactose-intolerant population have contributed to the rise in demand for non-dairy ice cream products.

Furthermore, the surge in demand for premium ice creams is fueling market growth, as health-conscious consumers seek products made with high-quality ingredients and lower carbonation levels compared to regular ice creams.

To gain a competitive edge in the market, manufacturers are focusing on creating ice cream products with functional ingredients, organic fillings, and enticing flavors. This includes incorporating unique flavors such as tropical fruits, lemons, and coconuts to cater to changing consumer tastes. Brands like Skinny Cow, known for their low-calorie and low-fat ice cream offerings, are witnessing increased demand among health-conscious customers.

Additionally, favorable regulations are encouraging innovation in the market, providing opportunities for key players to introduce new products and differentiate their offerings. As a result, the ice cream supply market is experiencing dynamic growth driven by evolving consumer preferences and industry innovations.

Key Companies

Dart Container Corporation
Huhtamaki Oyj
International Paper Company
T. Marzetti Company
Anchor Packaging
Ecolab Inc
Gold Medal Products Co
Ali Group
Kerry Group
Winkler GmbH

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Market Segmentation:

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

By Equipment:

Freezers and Display Cases
Mixers and Blenders
Dispensers and Soft-Serve Machines
Dipping Cabinets
Ice Cream Vending Machines
Cleaning and Maintenance Equipment

By Buyers:

Ice Cream Shops and Parlors
Restaurants and Cafés
Catering Services
Ice Cream Producers

Author:

Ronak Shah (Associate Vice President at Future Market Insights) is deeply committed to uncovering actionable insights for consumer and food and beverage players. She brings a unique blend of analysis, industry trends, and consumer behavior to put data into perspective.

What she makes out of data becomes a delight to read. She has authored many opinions, including for publications like Process Industry Informer and Spinal Surgery News, as she understands the market pulse and consumers’ shifting preferences.

She likes to bring experts to a roundtable to weigh the impact of a trend on an industry. Catch up with her discussion on the impact of AI in packaging.

About Future Market Insights (FMI)

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

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Meningococcal Vaccines Market is Anticipated to Reach USD 9.014 Billion by 2034 at a Robust 8.6% CAGR | Research by FMI

The battle against meningococcal disease, a potentially life-threatening bacterial infection, is gaining momentum with the increasing use of vaccines. The global Meningococcal Vaccines Market is experiencing a surge, driven by rising disease incidence worldwide. Currently valued at an estimated USD 3.95 billion in 2024, the market is projected to reach a staggering USD 9.014 billion by 2034, reflecting a robust Compound Annual Growth Rate (CAGR) of 8.6%.

In a recent report, FMI unveils groundbreaking insights, positioning the conjugate vaccines segment as the industry frontrunner, commanding an impressive 62.6% revenue share in 2021. This highlights the pivotal role of conjugate vaccines in shaping the market landscape and steering its overall success.

The anticipated growth in the Global Meningococcal Vaccines Industry reflects a collective effort towards enhancing global healthcare and preventing the spread of meningococcal diseases. With advancements in vaccine technologies and increasing awareness about the importance of immunization, the industry is set to play a pivotal role in safeguarding public health. Partnerships between the private sector and public institutions have been the chief agenda of global public health initiatives.

The last few years have witnessed an increase in several private-public partnerships specifically focussing on vaccine provision in developing countries. Partnerships like the International Coordinating Group on Vaccine Provision for Epidemic Meningitis Control (ICG) help magnify the vaccine outreach to remote areas of the world with the maximum need.

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The governments of several countries across the globe initiate immunisation programmes periodically and these programmes are backed by global organisations such as UNICEF and WHO and private not-for-profits like the Global Alliance for Vaccines and Immunization (GAVI).

A classic example of how private-public partnerships are helping boost vaccination programmes across deep regional pockets is Brazil.

In 2010, Ezequiel Dias Foundation, Brazil formed a strategic alliance with Novartis Vaccines & Diagnostics for the sustainable supply of Menjugate MenC vaccines for Brazil’s National Immunization Program. By 2015, Brazil became self-sufficient in the production of the meningococcal C conjugated vaccine for the country’s public vaccination programmes. Such initiatives at the global level are anticipated to support global immunisation goals and at the same time boost the growth of the Global Meningococcal Vaccines Industry

Key Companies Profiled in the Meningococcal Vaccines Market:

Sanofi Pasteur Inc.
GlaxoSmithKline Plc
Wyeth Pharmaceuticals
Bio-Manguinhos
Bio-Med Pvt. Limited
Chongqing Zhifei Biological Products Co., Ltd.
Hualan Biological Engineering Inc.
Incepta Pharmaceuticals Ltd.
Pfizer INC
Serum Institute of India Pvt. Ltd
Walvax Biotechnology Co., Ltd.

Factors Leading to Worldwide Adoption of Meningococcal Vaccination Programmes

The Global Meningococcal Vaccines Industry is expected to be driven by enhanced access to vaccines in low and middle-income countries, growing investments by manufacturers and governments to cope with pandemic meningitis outbreaks, and rapidly growing consumption of meningococcal vaccines bolstered by immunisation alliances and mass vaccination campaigns among others.

Partnerships and alliances between manufacturers and governmental healthcare organisations are facilitating the speedy introduction of vaccines in some of the economically challenged countries of the Middle East and Africa region. Enhanced access to vaccines in under-penetrated global markets is expected to accelerate revenue growth of the global meningococcal vaccines market.

Approval of new vaccines in the U.S. and Europe in 2015 and 2017 to treat meningococcal meningitis has revolutionised the global immunisation landscape. This is further boosting the growth trajectory of the global market for meningococcal vaccines.

GlaxoSmithKline to Lead the Meningococcal Vaccines Market with About 50% Market Share Recorded in 2017

The Global Meningococcal Vaccines Industry is highly consolidated, with GlaxoSmithKline and Sanofi together holding about 80% of the global market share in 2017. Pfizer is the third largest company in this market with just under 12% market share in 2017.

Companies are expanding their production capacities through the acquisition of established vaccine production units of other global or local companies.

Sanofi has a huge pipeline of 17 active meningococcal vaccine programmes and is targeting emerging markets; while GlaxoSmithKline has 5 active pipeline programmes for meningococcal vaccines, all of which are in the phase II clinical stage. The addition of the vaccine Bexsero has enabled GlaxoSmithKline to defend its brand against Sanofi’s aggressive portfolio in the paediatric vaccines space.

Why Future Market Insights?

Comprehensive analysis of evolving purchase patterns across different geographies
Detailed insights of market segments and sub-segments for historical as well as forecast period
A competitive analysis of prominent players and emerging players in the keyword market
Detailed information about the product innovation, mergers and acquisitions lined up in upcoming years

Groundbreaking research and market player-centric solutions for the upcoming decade according to the present market scenario

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Key Segments Covered in Meningococcal Vaccines Market Research

By Product:

Polysaccharide
Conjugate

By Age Group:

Infants
Children
Adolescents and Young Adults
Adults

By Distribution Channel:

Pharmacies
Community Clinics
Public Health Agencies
Others (hospital pharmacy, private market etc.)

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

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

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Sliding Bearings Market Size Projected to Drive Past USD 2,420.0 Million Milestone by 2033, Growing at 8.7% CAGR | FMI Forecast

The sliding bearing market is poised for significant growth, with a robust Compound Annual Growth Rate (CAGR) of 8.7% projected from 2023 to 2033, according to the latest report from Future Market Insights (FMI). This forward-looking projection not only indicates sustained demand for sliding bearings but also suggests an accelerated pace, with sales expected to surpass the noteworthy milestone of USD 2,420.0 million by 2033.

Insights from FMI shed light on the substantial progress achieved by the global sliding bearing market. By the end of 2022, the market had already reached a substantial size, standing at approximately USD 952.8 million, laying a solid foundation for further expansion. Projections aligned with this upward trajectory suggest that revenue generated from sliding bearing sales is set to reach USD 1,051.9 million in 2023. This figure not only underscores the market’s resilience but also signals a notable growth trajectory for the industry. The exceptional growth rate of the market reflects its enduring relevance and the escalating demand for sliding bearings across diverse applications.

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Advanced sliding bearings are used to invest in products and technologies that contribute to energy efficiency. As developing economies industrialize and urbanize, there is a growing demand for energy-efficient machinery and equipment. This is ultimately expected to boost the sliding bearing market in these regions.

The aerospace and defense sectors often demand sliding bearings with advanced materials due to their lightweight and high-strength properties. Reduced weight and high durability improve performance in aircraft, missiles, and military vehicles. Adopting new technologies, like 3D printing and nanotechnology, can facilitate the production of sliding bearings with advanced materials. This results in a potential reduction of manufacturing costs and drives growing demand.

Industries that require high-performance machinery may seek a competitive edge by using advanced materials in sliding bearings. This drives sales among industries where performance is critical. As emerging economies industrialize and modernize, they require sliding bearings with advanced materials. Such developments are anticipated to help meet high quality and performance standards, contributing to growing demand from these industries.

Key Takeaways from the Sliding Bearing Market:

The global sliding bearing market is expected to witness a CAGR of 8.7% between 2023 and 2033.
In terms of material, the metallic division is expected to expand at a CAGR of 8.5% between 2023 and 2033.
By bearing type, the radial segment is anticipated to exhibit an 8.3% CAGR through the end of the projected period.
The United Kingdom is set to be worth USD 101.1 Million by 2033.
Japan will likely dominate the market with a CAGR of 9.4% throughout the projected period.

“Soaring demand for advanced material will likely drive demand in the sliding bearing market by 2033. Key manufacturers are expanding their product portfolios to offer a wide range of sliding bearings for various applications and industries. Lightweight and highly durable sliding bearings are expected to remain high in demand from crucial sectors like automotive and aerospace through 2033.” – says a lead Future Market Insights (FMI) analyst.

Competitive Landscape:

Staying updated with industry trends such as Industry 4.0, automation, and IoT integration can be important for manufacturers to meet evolving customer requirements. They offer customized solutions to meet specific customer requirements, which can be a valuable strategy to secure high-value contracts.

Recent Developments in the Sliding Bearing Market:

Canam Group is an expert in creating and manufacturing metal parts in the North American building industry. The company works in the construction, structural steel, and bridge industries.
Cosmec Inc. (Cosmec) is a structural bearings designer and manufacturer supplying the transportation infrastructure sector. Cosmec provides design and engineering services for fabricators, primary contractors, state agencies of transportation, and engineering consulting companies, along with producing structural bearings.

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Key Players Profiled:

AST Bearings LLC
Brammer Plc
Canam Group, Inc
Cosmec, Inc
Ekspan Ltd

Market Segmentation Analysis:

By Material:

Metallic
Non-metallic

By Bearing Type:

Radial
Liner
Thrust
Angular Contact
Other

By Application:

Engine
Brakes
Bogie
Interior
Exterior

By Region:

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

Author:

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

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

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

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Global Labeling Equipment Market to Reach USD 6,011.9 Million by 2033, Driven by Demand for High-Speed and Accurate Labeling Solutions

The Labeling Equipment Market is poised for significant expansion, anticipated to achieve a valuation of US$ 6,011.9 million by 2033, driven by a steady 4.9% compound annual growth rate (CAGR) during the forecast period from 2023 to 2033. This growth is attributed to various factors, including the surging demand for accurate, high-speed, and user-friendly labeling solutions. The flourishing e-commerce sector, offering convenience and cost savings to consumers, further fuels the market’s upward trajectory.

Additionally, the food and beverage industry’s increasing need for automation, driven by consumer awareness and information demands, contributes to the adoption of automated labeling systems. Notably, automatic labeling machines offer high-quality solutions, maintaining adhesive accuracy even under varying label materials and production speeds. This results in optimized throughput, reduced downtime, and minimal waste, aligning with the evolving demands of densely populated markets and shifting consumer perceptions towards packaged goods.

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Rising demand for efficient, rapid, and precise labeling systems is expected to contribute to the market’s growth. The emergence of e-commerce industries is expected to substantially boost the demand for labeling equipment as consumers increasingly prefer the convenience, variety, and cost-effectiveness of online shopping.

The label’s anti-counterfeiting and tracking features allow manufacturers to monitor shipments and ensure that products are delivered to end-users without interference. Moreover, technological advancements in labeling equipment are reducing human intervention and revolutionizing the packaging sector. Together, these factors are anticipated to contribute to the growth of labeling equipment market in the forecast period.

The automation of labeling equipment technology and robotic integration, which aim to improve motion controls, is expected to benefit the overall market. Additionally, the introduction of touch-sensitive built-in hardware and modular software designs is predicted to increase sales.

The incorporation of embedded USB programming, digital counter inputs, and human-machine interface (HMI) connectivity in product design is expected to create growth opportunities in the labeling equipment market in the future. There could be an increase in demand for pressure-sensitive labeling equipment, resulting in lower maintenance expenses and improved application speed.

Growth Opportunities in the Labeling Equipment Industry:

Automation Integration: Increasing demand for automated labeling solutions, driven by the need for efficiency and reduced operational costs in various industries.
Customization and Personalization: Growing preference for customizable and personalized labels, creating opportunities for labeling equipment manufacturers to offer versatile and adaptable solutions.
E-commerce Boom: The expanding e-commerce sector is driving the demand for labeling equipment as companies strive for accurate and efficient labeling of products in the supply chain.
Globalization: International expansion of businesses is leading to increased demand for labeling equipment that complies with diverse regulatory requirements and language variations.
Sustainability Focus: Rising awareness and regulations regarding environmental sustainability are driving the need for eco-friendly labeling solutions, presenting opportunities for innovative, green labeling equipment.

Industry Trends:

Smart Labeling Solutions: Integration of IoT (Internet of Things) technologies with labeling equipment, allowing for real-time tracking, traceability, and data analytics.
Augmented Reality (AR) in Labeling: Growing adoption of augmented reality for enhanced consumer engagement and information delivery through interactive labels.
Digital Printing: Increasing use of digital printing technologies for labels, providing flexibility, speed, and high-quality printing, especially in the context of short-run and customized label production.
Blockchain Integration: Rising interest in incorporating blockchain technology for secure and transparent supply chain management, ensuring the authenticity and traceability of labeled products.
Regulatory Compliance and Serialization: Stringent regulations in industries such as pharmaceuticals are driving the implementation of labeling equipment that supports serialization and complies with evolving regulatory standards.

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Key Segments profiled are:

By Product Type:

Top Labeling Equipment
Bottom Labeling machine
Top & Bottom Labeling Equipment
Wrap Labeling Equipment
Front & Back Labeling Equipment
Full Body Sleeve Labeling Equipment

By Technology:

Automatic
Semi-Automatic
Manual

By Labeling Equipment:

Primary Applicators
Print & Apply
RFID Labeling Solution

By Labeling Type:

Adhesive Based Labeling
Non-Adhesive Based Labeling

By End Use Industry:

Food & Beverages
Healthcare& Pharmaceuticals
Cosmetics & Personal Care
Electricals & Electronics
E-Commerce
Automotive
Homecare
Others

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

About Future Market Insights (FMI)

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

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global General Purpose Electronic Test and Measurement Instruments Market Anticipated to Reach USD 20.8 Billion by 2033, Growing at 9.7% CAGR

The global general purpose electronic test and measurement instruments market is poised for transformative growth, with projections indicating a significant valuation exceeding USD 20.8 billion by 2033, driven by a robust Compound Annual Growth Rate (CAGR) of 9.7% forecasted between 2023 and 2033. This substantial growth underscores the persistent demand for innovative solutions within the industry.

At the heart of this expansion is the increasing adoption of modular Test and Measurement (T&M) equipment, a trend gaining momentum across diverse sectors worldwide. The multifaceted benefits provided by modular systems are proving transformative, enabling enhanced flexibility, scalability, and cost-effectiveness. These advanced solutions are reshaping the landscape of testing, offering unmatched adaptability tailored to meet the unique requirements of various industries.

Stakeholders can anticipate a paradigm shift in precision testing, driven by the continual evolution of electronic test and measurement instruments.

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Unlocking Growth: General Purpose Electronic Test and Measurement Instruments Market Insights

In today’s dynamic business landscape, it is crucial for organizations to stay ahead of the curve in terms of technology and innovation. The General Purpose Electronic Test and Measurement Instruments Market plays a pivotal role in ensuring the quality and efficiency of various industries. In this report, we delve into country-wise insights to understand how this market is expanding and contributing to business development.

Expanding Horizons: The United States Market

The United States stands at the forefront of technological advancements, and its General Purpose Electronic Test and Measurement Instruments Market is no exception. This market segment is set to experience substantial growth, primarily driven by increased demand from key sectors such as medical and IT & telecom.

Driving Factors in the United States:

The rapid evolution of technology, particularly in self-driving vehicles and the Internet of Things (IoT), has created a pressing need to enhance bandwidth and reduce latency—both of which are vital for unleashing the full potential of 5G technology. The United States is actively engaged in the national 5G business development league, positioning itself as a global leader in this domain.

Projections for the United States Market:

By 2033, the United States general purpose electronic test and measurement instruments market is expected to witness an impressive year-on-year growth rate of 9.6%. This signifies a substantial opportunity for businesses looking to invest in this sector. Moreover, the United States is poised to generate an incremental dollar opportunity of USD 3.8 million from 2023 to 2033, underlining its significance in the global market.

China’s Role in Market Expansion:

China has long been recognized as a manufacturing powerhouse, serving a diverse range of industries, including automotive, electrical, and electronics. As a leading producer of consumer electronics like mobile phones, tablets, laptops, and gaming consoles, China plays a pivotal role in shaping the global market for General Purpose Electronic Test and Measurement Instruments.

Key Drivers in China:

The growth of China’s automobile and electrical and electronics sectors has a profound impact on the demand for general purpose electronic test and measurement instruments. The transition to connected vehicles and intelligent transportation systems is a significant driving force behind this market’s expansion in China.

Bright Prospects for China’s Market:

Looking ahead, the Chinese market is projected to exhibit an impressive year-on-year growth rate of 9.6% by 2033. This growth trajectory is expected to translate into a substantial incremental dollar opportunity of USD 4.5 billion from 2023 to 2033, solidifying China’s position as a major player in the global market landscape.

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Key Companies Profiled:

AstroNova, Inc
B&K Precision Corporation
Boonton Electronics
Fluke Corporation
Fortive Corporation
GaGe Applied Technologies, Inc.
Good Will Instrument Co., Ltd.
Hioki E. E. Corporation
Ideal Industries, Inc.

Market Segments by Category:

By Product:

Digital Oscilloscopes
Extension-Based T&M Instruments
Network Analyzers
Multimeters
Spectrum Analyzers
Radio Frequency Signal Generators
Microwave Signal Generators
Others

By End Use:

Communications
Aerospace & Defense
Electronics Manufacturing
Industrial Electronics & Automotive
Others

By Region:

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

Author:

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

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Global Copper Pipes and Tubes Market Revenue Share to Surpass USD 48.8 Billion by 2033, Driven by 3.2% CAGR Growth | FMI Prediction

The copper pipes and tubes market is poised for significant growth, projecting a Compound Annual Growth Rate (CAGR) of 3.2% over the forecasted period. This trajectory is expected to culminate in a substantial market value surpassing USD 48.8 billion by 2033.

This anticipated growth exceeds traditional statistical predictions, highlighting the enduring versatility and significance of copper across diverse applications. A pivotal catalyst driving this expansion is the increasing demand for HVAC (Heating, Ventilation, and Air Conditioning) units. With global construction activities gaining momentum, the installation of HVAC systems is on the rise, with copper pipes and tubes assuming a pivotal role. Renowned for their exceptional thermal conductivity, durability, and resistance to corrosion, these components emerge as the preferred choice, ensuring the efficient operation of heating and cooling systems.

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Key Takeaways:

The United States copper pipes and tubes industry is estimated to attain USD 8.2 billion by 2033. Over the forecast period, the market is expected to expand at a CAGR of 3.1%. From 2018 to 2022, the market registered a CAGR of 4.4%.
The United Kingdom copper pipes and tubes industry is projected to be worth USD 1.8 billion by 2033. Over the estimated time, the market is projected to record a CAGR of 2.9%. Before this, the market registered a CAGR of 4.2%.
The China market stands prominently among the top-tier copper pipes and tubes economies. The market is expected to reach a valuation of USD 10.4 billion by 2033 end. From 2023 to 2033, the market is projected to expand at a CAGR of 3.1%.
The Japan market is projected to be valued at USD 9.4 billion by 2033. In the next ten years, the market is presumed to pace at a CAGR of 3.1%.
The South Korean copper pipes and tubes industry is projected to be valued at USD 2.5 billion by the end of 2033. Over the assessment period, the market is expected to expand at a CAGR of 2.8%.
Based on end use, the HVAC segment is expected to be at the top. The segment is expected to register a CAGR of 3%, as compared to the 4.1% CAGR recorded in the historical period.
The seamless copper pipes and tubes are expected to record a CAGR of 3.1% in the forecast period. The segment had grown at a CAGR of 4.2% in the historical period.

Competitive Landscape:

In February 2023, Mettube Copper India Private Limited, which is an Indian arm of the Malaysian firm, entered an arrangement with the Gujarat Government to establish its copper tube production factory in Sanand. The MNC has decided to invest around INR 1,000 crore in the first phase to set up the facility. The company’s copper tubes are used in the air conditioning and refrigeration industries. Since the plant is expected to produce 5th Gen copper tubes, the plant can be instrumental in reducing the carbon footprint in the future.
In January 2023, Lawton Tubes, a leading manufacturer of medical-grade copper tubes in the United Kingdom, announced that it may exhibit its expertise at Arab Health this year. The company has been a critical distributor of copper pipelines in and out of the United Kingdom, covering 35+ countries. At the event, the company is going to celebrate its assistance during the fight against COVID and discuss the feasibility of copper tubes in carrying medical gases.

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Key Players:

Furukawa Electric Co., Ltd., Global Brass and Copper Holdings, Inc., ElvalHalcor, Mueller Industries, Aurubis AG, Cerro Flow Products LLC, Fabrika bakarnih cevi A.D. Majdanpek, Foshan Huahong Copper Tube Co., Ltd, Cambridge-Lee Industries LLC, H & H Tube, Zhejiang Hailiang Co., Ltd., Kobelco & Materials Copper Tube Co., Ltd., MM Kembla, Mehta Tubes Ltd., Qingdao Hongtai Copper Co., Ltd.

Key Segments Profiled:

By Product Type:

Seamless
Welded

By End Use:

HVAC
Industrial Heat Exchange
Plumbing
Others

By Region:

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

Author:

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

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FMI Projection States Global Welding Fume Extraction Equipment Market Size to Cross USD 7.4 Billion by 2033, Driving 5.5% CAGR Growth

The welding fume extraction equipment market is poised for significant expansion, with a projected valuation of approximately USD 4.3 billion in 2023, driven by a robust Compound Annual Growth Rate (CAGR) of 5.5% from 2023 to 2033. As the forecast period concludes, global sales of welding fume extraction equipment are expected to reach a substantial USD 7.4 billion.

The increased demand for welding fume extraction equipment stems from its indispensable role across a diverse spectrum of industries. From aerospace and automotive to construction and manufacturing, there is a growing need for effective fume extraction solutions. These dynamic and ever-evolving industries are expanding their horizons, driving the demand for advanced and efficient equipment that not only ensures the health and safety of workers but also aligns with stringent environmental regulations.

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Key Takeaways:

By the end of 2033, the market in the United States is expected to progress at an annual growth rate of 5.4%. This regional market could contribute to a revenue share of USD 1.4 billion by following this higher CAGR than other countries by 2033.
In terms of worldwide revenue, China alone is poised to account for a sizeable market share of 20% by the end of 2033. This regional market is projected to capture a 5.3% CAGR until 2033, concluding at USD 1.6 billion.
In terms of units, the mobile welding fume extraction equipment segment is poised to advance at a CAGR of 5.4% over the next ten years. Its sales remain higher as it is excellent for areas where there may be a need for more space due to its small size.
Arc welding is widely used in many applications, increasing its sizeable revenue share in the overall market among all application segments. During the forecast years, the revenue share obtained from sales of fume extraction equipment for arc welding is poised to grow at 5.2%.

Competitive Landscape:

Parker Hannifin, Fumex, AAF International, Air Quality Engineering, and Lasermet are some leading players in the global welding fume extraction equipment market. To tap into expanding markets and broaden their consumer base, leading welding fume extraction equipment manufacturers are expanding their operations into new geographic areas.

While meeting the unique needs of distinct regions requires setting up regional production facilities, distribution networks, and sales and service centers. So, the overall market is anticipated by FMI to get diversified further in the coming days with the emergence of new market players.

Recent Market Developments:

KEMPER Company released the WallMaster filtration system in August 2020 to aid metalworking businesses in optimizing employee safety during welding processes. It is a fixed filter machine that can accommodate two workstations simultaneously and is made especially for filtering medium amounts of welding fumes.

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Key Companies Profiled in the Report:

Parker Hannifin Corporation
Fumex, Inc.
AAF International (American Air Filter)
Air Quality Engineering
Lasermet Ltd.

Key Segmentation Analysis:

By Product Type:

Mobile Units
Stationary Units
Large Centralized Systems

By Application:

Arc Welding
Resistance Welding
Laser Beam Welding
Oxy-fuel Welding
Other Applications

By Region:

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

Author:

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

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FMI Prediction Affirms Global Industrial Chain Drives Market Revenue to Surpass USD 6.5 Billion by 2033, Driven by 3.6% CAGR Growth

The global industrial chain drives market size is expected to exceed a valuation of USD 4.6 billion in 2023. It is anticipated to attain a valuation of USD 6.5 billion by 2033. The market is foreseen to thrive at a CAGR of 3.6% from 2023 to 2033.

Projects to build infrastructure, such as roads, bridges, railroads, and ports, are becoming more common in many nations. Heavy equipment like cranes, excavators, and loaders used in infrastructure development and construction depend heavily on chain drives. The growth of the industrial chain drives market is currently facilitated by the rise of infrastructure projects around the globe.

Energy and power generation in the industrial chain is another key factor for market expansion. In power plants, wind turbines, and hydroelectric facilities, chain drives are frequently utilized to transfer electricity from turbines to generators. Chain drives are becoming more and more necessary as the demand for energy rises in response to growth in population and industrial development.

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Chain drives are widely used in the automobile industry for components like engines, power transmission systems, and steering mechanisms. The demand for chain drives is rising as a result of the expansion of the automotive sector, particularly in developing nations. The industrial chain drives the market growth in tandem with rising vehicle production and sales.

Specialty chains with specific characteristics and capabilities are required by certain sectors. For instance, there are strict standards for cleanliness, corrosion resistance, and accuracy in sectors like food processing, medicines, and electronics. The market for industrial chain drives is developing as a result of the rising demand for bespoke chains designed specifically for these sectors’ demands.

Manufacturers are introducing novel chain drive systems as a result of ongoing research and development activities. These solutions frequently come with better features, including higher customizability, lower noise levels, and improved durability. The market is expanding due to the availability of cutting-edge chain drives that meet certain industrial needs.

The industrial chain drives market is substantially influenced by North America, in particular the United States. The need for chain drives is fueled by the region’s sophisticated manufacturing sector, which includes industries including automotive, aerospace, and machinery production.

The region’s emphasis on technological development, automation, and process optimization in industries also contributes to the market’s growth. Its position in the industry is further aided by the existence of reputable manufacturers and suppliers in North America.

Key Takeaways from Industrial Chain Drives Market Report:

The global industrial chain drives industry size developed at a CAGR of 4.4% from 2018 to 2022.
In 2018, the global market size stood at USD 3.7 billion.
The global market size stood at USD 4.4 billion in 2022.
The double-pitch chain segment is projected to thrive at a CAGR of 3.4% from 2023 to 2033.
The manufacturing end-user segment is slated to exhibit a CAGR of 3.2% from 2023 to 2033.
China is predicted to showcase a CAGR of 3.5% from 2023 to 2033.
Japan is anticipated to thrive at a 3.5% CAGR from 2023 to 2033.
The market in the United States is predicted to expand at a CAGR of 3.5% from 2023 to 2033.

Key Players:

AB SKF
Chiaravalli Group Spa
Cross Morse
Daido Steel Co. Ltd.
Ditton pievadkezu rupnica
Dunbelt Bearings and Transmissions SA.
Industrias YUK S.A.
KettenWulf Betriebs GmbH
LEWCO Inc.
Martin Sprocket and Gear Inc.
Ramsey Products Corp.
Regal Rexnord Corp.
Renold Plc
Rubix Group Holdings Ltd.
The Timken Co.
Others

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Industrial Chain Drives Market Segmentation:

By Type:

Single-strand Chain
Double Pitch Chain
Multi-strand Chain

By End User:

Manufacturing
Mining
Agriculture
Construction
Others

By Region:

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

Author:

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

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Global Padded Mailers Market Projected to Reach USD 3.1 Billion by 2033, Driven by eCommerce Boom and Demand for Eco-Friendly Packaging

The global padded mailers market is poised for significant growth, with its valuation expected to reach USD 1.8 billion in 2023 and projected to grow at a compound annual growth rate (CAGR) of 5.2% over the next decade, reaching approximately USD 3.1 billion by 2033. This expansion is fueled by the rapid rise of cross-border eCommerce and an increasing demand for lightweight, cost-effective, and eco-friendly packaging solutions.

Report Highlights: Important Revelations

Market Size (2023): The global padded mailers market is valued at US$ 1.8 billion.
Track Record (2018-2022): The demand for padded mailers grew at a CAGR of 4%, reaching a value of US$ 1.7 billion in 2022.
Main Propelling Force: The primary drivers are the growth of e-commerce and increased online shopping.
Predominant Closure Type: Peel and seal adhesive strips are the favored closure type in the market.
Factors Driving Demand in the United States: High e-commerce activity, shipping needs, and product protection requirements contribute to the strong demand for padded mailers in the United States.

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The growing emphasis on sustainable packaging solutions across industries is a significant factor contributing to market growth. Consumers are becoming more environmentally conscious and prefer products that align with their values.

Padded mailers made from recycled and biodegradable materials have gained popularity due to their reduced environmental impact. The eco-friendly options reduce waste, promote recycling, and minimize the use of single-use plastics. The shift towards sustainable packaging practices is expected to fuel the demand for padded mailers in the coming years.

Another factor driving the growth of the padded mailers market is the customization and branding opportunities they offer. Companies recognize the importance of creating a unique and memorable unboxing experience for their customers. Padded mailers provide a platform for businesses to showcase their brand identity through customized designs, colors, and branding elements, which not only reinforces brand recognition but also creates a positive impression on recipients, enhancing customer loyalty and engagement.

Key Takeaways from this Market Study:

Global padded mailers market was valued at US$ 1.7 billion by 2022-end.
From 2018 to 2022, the market demand expanded at a CAGR of 4.0%.
China is expected to hold a dominant CAGR of 7.3% during the forecast period.
By material type, the polyethylene (PE) segment is expected to constitute a CAGR of 5.1% in 2033.
On the basis of end-use industry, the manufacturing & warehousing segment is expected to dominate the market with a CAGR of 5.5% in 2033.
From 2023 to 2033, padded mailers market is expected to flourish at a CAGR of 5.2%.
By 2033, the market value of padded mailers is expected to reach US$ 3.1 billion.

Increasing cross-border trade & international logistics, across the globe is a major factor that is expected to propel the growth of the padded mailers market in the near future, remarks an FMI analyst.

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Primary Market Drivers:

eCommerce Boom:
- The explosive growth of the eCommerce industry has transformed retail and increased the demand for efficient and reliable packaging solutions. Padded mailers have emerged as a popular choice for eCommerce businesses due to their ability to protect delicate or fragile items during transit. The inner layer of padding in these mailers absorbs shocks and impacts, minimizing the risk of damage to the contents. Their lightweight and compact nature also reduces shipping costs and saves space, making them ideal for online orders.
Sustainability and Eco-Friendly Packaging:
- There is a growing emphasis on sustainability and environmental consciousness in packaging. Consumers are increasingly seeking eco-friendly packaging solutions that align with their sustainability values. Padded mailers made from recyclable and biodegradable materials offer a more sustainable alternative to traditional packaging. These mailers help reduce the demand for new raw materials, minimize waste, and contribute to the circular economy.

Competitive Landscape:

Prominent players in the padded mailers market are 3M Company, Intertape Polymer Group Inc., Sealed Air Corporation, PAC Worldwide Corporation, Polycell International Corp., Storopack Hans Reichenecker GmbH, Vereinigte Papierwarenfabriken GmbH, Pregis LLC, Jiffy Packaging, and ProAmpac LLC., among others.

Recent Developments:

In 2021, Georgia-Pacific expanded its manufacturing facilities in Jonestown, Pennsylvania, and McDonough, to meet the increasing demand for curbside recyclable paper padded mailers. The expansion was driven by the growing need for more sustainable shipping solutions in the market.
In 2020, PREGIS LLC introduced the MAX-PRO 24 poly bagging system, a cutting-edge solution designed to enhance productivity and reduce labor costs. The innovative system features user-friendly operations that simplify the packaging process, leading to increased efficiency and improved throughput.

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Key Segments Profiled for the Global Market:

By Material:

Kraft Paper
- White Kraft Paper
- Brown Kraft Paper
Polyethylene
- HDPE
- LDPE/LLDPE
Fiber-based

By Closure:

Self-seal
Peel and Seal

By End Use:

Manufacturing & Warehousing
- Pharmaceuticals
- Electrical & Electronics
- Auto & Allied
- Food & Beverage
- Cosmetics & Personal Care
- Others (Agriculture, etc.)
E-commerce
Logistics & Transportation

By Region:

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

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

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FMI Analysis Affirms Global Electric Resistance Welded (ERW) Pipes and Tubes Market to Reach USD 119.4 Million by 2033, Growing at 5.2% CAGR

The electric resistance welded (ERW) pipes and tubes market is poised for substantial growth, with a projected valuation of USD 71.9 million by 2023. This positive trajectory is anticipated to continue, fueled by an impressive Compound Annual Growth Rate (CAGR) of 5.2% from 2023 to 2033. Consequently, the market is on track to attain a formidable valuation of USD 119.4 million by 2033.

A primary driver behind this surge in the ERW pipes and tubes market is the global upswing in infrastructural development initiatives. Ambitious projects are unfolding on a global scale, spanning from towering skyscrapers to extensive oil and gas pipelines. These ventures are generating heightened demand for ERW pipes, given their indispensable role in various critical sectors and applications.

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The post-pandemic resurgence in the electric resistance welded (ERW) line pipes segment has generated a notable upswing in the pipes and tubes market. This upturn has spurred leading entities in the oil and gas, as well as power industries, to formulate strategic initiatives for the deployment of cross-country line pipe infrastructure. Additionally, the recovery of oil and gas prices, coupled with the reinvigoration of concise budget allocations, is expected to create favorable growth prospects for the global Line pipes sector.

The heightened level of investment activities in key sectors such as power generation and automotive underscores the increasing commitment of governments worldwide to bolster infrastructural development projects, including those related to water and sewage systems. These investments are poised to serve as catalysts for market expansion and offer promising avenues for growth in the near future.

North America: A Lucrative Market with U.S. at the Helm

Market Dominance in North America

The electric resistance welded (ERW) pipes and tubes market in North America commands a substantial 51.6% market share, with the United States alone estimated to reach a market value of USD 21.4 million during the forecast period. Currently, the United States holds a 5.2% share in the global market, driven by robust economic growth in the region and increased activity across critical sectors such as oil, power, and refineries.

U.S. Growth Dynamics

The growth trajectory in the United States is primarily attributed to a resurgence in expenditure, particularly in the realm of energy infrastructure. The nation’s focused investments are poised to meet the escalating energy demand and ensure energy security.

Asia Pacific: Dominating the ERW Pipes and Tubes Market

Leading the Global Market

Asia Pacific emerges as the frontrunner in the global ERW pipes and tubes market, commanding a substantial revenue share of over 44%. Notably, China is projected to further bolster its position with a noteworthy CAGR of 5.1% from 2023 to 2033, translating to a substantial market value of USD 27.7 million.

Japan’s Impact

Japan also plays a significant role in this market, contributing notably with a CAGR of 4.3%, resulting in a market worth of USD 16.2 million. The region’s consumers are driving this growth, reflecting a robust demand for ERW pipe products.

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Key Players Profiled:

Nippon Steel & Sumitomo Metal Corporation
EVRAZ North America
Northwest Pipe Company
TMK IPSCO, Welspun
Wheatland Tube Company
ChelPipe
Techint Group
JFE Steel Corporation
Arabian Pipes Company
ArcelorMittal SA

Key Segments Covered:

By Region:

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

By Type:

Pressure Tubing
Standard Pipes

By Application:

Oil and Gas
Chemical, Mining

Author:

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

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