Market Research Blog – Page 1712 – New Product Development

FMI Study States Global Hot and Cold System Market Share to Exceed USD 41.0 Billion by 2034, Driven by 6.7% CAGR Growth

The global hot and cold system market size is poised for significant growth, attaining USD 21.4 billion in 2024. The hot and cold system demand is expected to experience a CAGR of 6.7% from 2024 to 2034. By 2034, the market revenue of hot and cold systems is anticipated to reach a valuation of USD 41.0 billion.

The need for efficient temperature-regulating hot and cold systems has been fueled by growing consumer awareness of environmental issues and energy efficiency. Hot and cold systems adoption in both the residential and commercial sectors has increased dramatically.

The performance and capacities of hot and cold systems have been improved by technological developments, increasing consumer appeal. Strict government restrictions have encouraged using energy-efficient heating and cooling solutions to decrease carbon emissions, spurring the industry expansion of hot and cold systems.

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Since new construction needs effective temperature control systems, the expanding industry has presented numerous hot and cold system market opportunities. The proliferation of hot and cold systems in homes and offices has been fueled by changing lifestyles and rising disposable incomes, raising the need for comfort and convenience.

The strong hot and cold system market growth has been attributed to several parameters, including economic conditions, technological innovation, regulatory backing, and environmental consciousness.

Key Takeaways:

South Korea hot and cold system industry is anticipated to boost at a CAGR of 9.0% between 2024 and 2034.
Japan heating and cooling system market is likely to exhibit a CAGR of 8.1% through 2034.
The United Kingdom hot and cold system market is envisioned to develop at a CAGR of 8.0% from 2024 to 2034.
China sales of hot and cold systems are expected to surge at a CAGR of 7.8% through 2034.
The United States hot and cold system sales are anticipated to evolve at a CAGR of 7.0% through 2034.
The plastic segment in the material category is predicted to accelerate at a CAGR of 6.5% from 2024 to 2034.
In the components category, the pipe segment is envisioned to thrive at a CAGR of 6.3% from 2024 to 2034.

“Strong growth is predicted for the hot and cold system market, fueled by the rising need for effective temperature control solutions in various industries. The heating and cooling market dynamics are anticipated to be positively shaped by advancements in thermal management technologies and sustainability concerns.”- Says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.).

Regional Outlook

The demand for sophisticated hot and cold systems has been bolstered by Asia Pacific’s growing emphasis on energy efficiency. The Asia Pacific hot and cold system market is expanding due to government initiatives supporting sustainable practices.
Incorporating sustainable energy sources such as geothermal and solar power improves Europe’s market opportunities for hot and cold systems. Europe’s heating and cooling system market is growing due to technological developments and an emphasis on smart building solutions.
The adoption of eco-friendly hot and cold systems in North America is encouraged by growing worries about climate change. Investments in infrastructure building and renovation projects boost North America’s demand for hot and cold systems.

Competitive Landscape

Driven by changing customer needs and technological improvements, the hot and cold system market is dynamic and strongly competitive. The major hot and cold system vendors compete for market share through strategic alliances, product differences, and innovation.

Regulations, the environment, and the state of the economy all impact the market dynamics of hot and cold system. A landscape of constant innovation and market expansion is fostered by established corporations competing with up-and-coming startups and niche hot and cold system manufacturers. Flexibility and agility are critical for hot and cold system providers looking to succeed in this highly competitive environment.

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Vital Hot and Cold System Manufacturers

Georg
Fischer Limited
Geberit
Watts Water Technologies
Chevron Phillips
Chemical LLC
Wienerberger

Key Segments

By Material:

Plastic
Metallic
Metalized Plastic

By Components:

Pipe
Fixtures and connectors
Multifold
Temperature Control
Local distribution
Solvent Cement
Others

By Application:

Water plumbing pipes
Radiator connection pipes
Underfloor surface heating and cooling
Others

By End Users:

Residential
Commercial
Industrial

By Region:

North America
Latin America
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.

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.

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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 Offshore Wind Market Revenue Share is Expected to Reach USD 325 Billion by 2034, Expanding at a 21.4% CAGR | FMI Projection

The offshore wind market is expected to grow significantly, reaching a CAGR of 21.4% from 2024 to 2034. This growth is driven by global demand for renewable energy, advancements in offshore wind technology, and government policies. Innovations in turbine design, grid integration solutions, and financing mechanisms are expected to further drive sustainable energy futures.

Offshore wind projects increased awareness of climate change and prompted a shift towards renewable energy sources like offshore wind. Offshore wind diversifies energy sources, reducing dependence on fossil fuels.

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Offshore wind projects face high initial costs, regulatory challenges, technical and logistical issues, and public opposition due to their capital-intensive nature, lengthy permitting processes, environmental assessments, and concerns over visual impact, noise pollution, and ecological disturbance.

The expanding offshore wind potential in emerging markets offers growth opportunities for developers and investors. Technological advancements in turbine design, floating platforms, and energy storage solutions enhance project viability. Localized manufacturing and supply chains create jobs and support economic development in coastal communities. Strategic alliances between industry players, governments, and stakeholders drive innovation and project success.

“As the offshore wind market evolves, conventional offshore wind systems encounter scale and complexity difficulties, prompting players to explore novel solutions. Embracing next-level offshore wind technology provides an essential route for expansion within the sector,” opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI)

Key Highlights in the Offshore Wind Market Analysis

The offshore wind market is anticipated to reach a valuation of USD 46.6 billion in 2024.
By 2024, the turbine technology segment is anticipated to dominate the market, accounting for the majority of the market share based on technology type.
Asia-Pacific, particularly China, is poised to emerge as a key growth region in the offshore wind market.
The United States market is expected to exhibit a CAGR of 21.8% over the forecast period.

Competitive Strategies Used by Market Players

The market growth is driven by a combination of technological innovation, strategic partnerships, project development, supply chain optimization, investment, market diversification, sustainability, and ESG initiatives.

Companies invest heavily in research and development to improve efficiency, reduce costs, and enhance reliability. Collaborations with industry players, governments, research institutions, and supply chain partners help companies access new markets and resources more effectively. Projects are developed and expanded, securing development rights, and permits, and executing efficiently.

Supply chain optimization is crucial for reducing costs and enhancing efficiency. Investment and financing are essential for offshore wind projects, with options including equity investments, project financing, and public-private partnerships. Market diversification is also essential, as companies seek to mitigate risks associated with market volatility and regulatory changes. Sustainability and ESG initiatives are also crucial, with companies prioritizing environmentally friendly practices and social responsibility.

The Top Key Players in the Offshore Wind Industry

General Electric
Ørsted A/S
Dong Energy A/S
ABB
Senvion SA
Engie
EEW GROUP
Goldwind Wind Energy GmbH

Recent Developments in the Offshore Wind Market

In April 2022, General Electric is constructing a facility in Bergen in partnership with Holcim and Cobod, a 3D printing firm, to 3D print the bottom of wind turbine towers, thereby reducing transportation costs.
In August 2022, Ping Petroleum and Cerulean Winds agreed to develop a wind power solution for the Avalon oil project in the UK North Sea, involving a large offshore wind turbine connected to the Sevan Hummingbird FPSO.

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Key Market Segmentation

By Component:

Turbine
Tower
Blades
Electrical Infrastructure
Nacelle

By Energy Location:

Shallow Water
Transitional Water
Deep Water

By Region:

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

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 States Global Selective Laser Sintering Equipment Market Size to Exceed USD 4.2 Billion by 2033, Driven by Robust 18.6% CAGR Growth

The global selective laser sintering (SLS) equipment market revenue is anticipated to reach USD 4.2 billion by 2033, up from USD 765 million in 2023. Future Market Insight estimated a remarkable CAGR of 18.6% for the market between 2023 and 2033.

SSLS 3D printing technology is capable of producing complex and customized products with unparalleled accuracy and precision. The demand for customized and complex parts is increasing across various industries. More effective and affordable SLS equipment has been developed as a result of the ongoing developments in additive manufacturing. SLS equipment is also deployed to produce medical implants and prosthetics. These factors are driving the SLS equipment market growth.

SLS technology is a sustainable and eco-friendly manufacturing process. Given the increasing focus on sustainability in various industries, this technology is gaining popularity. SLS equipment is also utilized for the production of functional parts, rather than just prototyping. Metal-based SLS printing is gaining popularity for high-performance applications. This type of SLS equipment has the ability to produce parts with high strength and durability.

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The high initial investment required for setting up SLS equipment could be a barrier for small and medium-sized enterprises. The limited availability of raw materials for SLS printing could result in supply chain disruptions. Moreover, there is a shortage of skilled workforce with expertise in SLS equipment. These factors could affect the adoption of SLS 3D printers.

The market is projected to witness several growth prospects. The development of new and innovative SLS materials is likely to expand the SLS equipment applications in various industries. The integration of SLS technology with Industry 4.0 technologies is also expected to improve production efficiency and enable smart manufacturing. Furthermore, the education and research sectors are anticipated to witness a growing demand for SLS equipment for research and development.

Key Takeaways

The SLS equipment market in the United Kingdom is anticipated to rise profitably, exhibiting a CAGR of 17.6% through 2033.
The market in the United States is expected to upsurge at 17.3% CAGR during the forecast period.
With a CAGR of 17.9% over the forecast period, the market in Japan is predicted to develop rapidly.
The market in China is expected to proliferate significantly, registering a CAGR of 19.6% from 2023 to 2033.
South Korea is estimated to grow considerably registering a CAGR of 19% until 2033.

Competitive Landscape

Selective laser sintering equipment market players are investing in research and development to improve the efficiency of SLS equipment. They are also expanding their product portfolios and global footprint through strategic partnerships and acquisitions. They are also focusing on offering customized solutions to meet specific customer requirements. Since the demand for 3D printing is increasing in various industries, they are offering cost-effective and innovative solutions to attain a competitive edge.

Key Players:

3D Systems Corporation
EOS GmbH
Farsoon Technologies
Prodways Group
Formlabs, Inc

Recent Developments

In order to improve the development of materials for additive manufacturing, 3D Systems, and EMS GRILTECH announced their strategic alliance in June 2022. Both businesses are going to introduce a brand-new nylon copolymer called DuraForm PAx Natural, which can be utilized with any SLS printer on the market.
Prodways Tech introduced the ProMaker P1000 S, a new industrial SLS 3D printer. The ProMaker P1000 S 3D printer, which is based on Selective Laser Sintering technology (SLS®), offers inexpensive series manufacturing while addressing the demands of industrial production.

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Selective Laser Sintering Equipment Market Segmentation:

By Laser Type:

Solid Laser
Gas Laser

By Material:

Metal
Nylon

By Application:

Tooling
Heavy Equipment & Machinery
Robotics

By Industry:

Automotive
Aerospace & Aeronautics
Consumer Goods
Machinery & Equipment
Art and Fashion
Medical Devices
Others

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and 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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FMI Analysis Affirms Global Low Voltage Motor Control Center Market Share to Exceed USD 10 Billion Valuation by 2034, with 8.1% CAGR

The low voltage motor control center market is estimated to be worth USD 4.6 billion in 2024 and is projected to be valued at USD 10 billion in 2034. Between 2024 and 2034, the industry is expected to register a CAGR of 8.1%.

Growing urbanization and industrialization in emerging economies are expected to create opportunities for low-voltage motor control center market expansion due to increased demand for electric distribution solutions and increased infrastructural development.

Increasing innovation in low-voltage motor control center designs, including the integration of IoT Smart sensors and predictive maintenance capabilities, enhances functionality and reliability, driving market growth.

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The growing deployment of automation in various industries demands effective motor control, which drives the low-voltage motor control center. Increasing infrastructural development, such as commercial buildings, data centers, and transportation systems, creates demand for low-voltage motor control centers.

The adoption of LV MCCs, meant to provide asset and worker protection, is fueled by adherence to safety regulations in sectors such as mining, petrochemicals, and oil and gas.

Edge computing technologies are gaining traction in low-voltage motor control center application, enabling faster data processing and reduced latency and improved decision making at the edge of the network.

Key Takeaways from the Market Study:

From 2019 to 2023, the low-voltage motor control center market expanded at a CAGR of 2%.
The conventional motor control centers segment is expected to rise at a CAGR of 9% from 2024 to 2034, according to type.
The demand for low-voltage motor control centers in the United Kingdom is predicted to grow at a CAGR of 3% through 2034.
In the United States, the low-voltage motor control center industry is estimated to register a CAGR of 4% from 2024 to 2034.
China is projected to expand by a CAGR of 9% between 2024 and 2034.
The low voltage motor control center market in Japan is anticipated to record a CAGR of 5% during 2034.

“The increasing integration of smart technologies and increased focus on energy efficiency are driving the low-voltage motor control center market,” – opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).

Competitive Landscape:

The market players in the low-voltage motor control center market are collaborating with other industry stakeholders, including suppliers, technology partners, and customers, enabling leading players to leverage synergies, access new markets, and accelerate innovation.

Some players are also opting for eco-friendly manufacturing processes and using energy-efficient technologies to minimize their environmental footprints.

Mitsubishi Electric’s LV MCCs are renowned for their excellent efficiency, dependability, and performance. They offer a wide variety of LV MCCs. The company focuses on developing innovative technology to enhance motor control and power distribution capabilities.

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Key Companies Profiled:

Tesco Controls Inc.
Mitsubhishi Electric Corporation
Allis Electric Co Ltd
Weg SA
Eaton Corporation PLC
Rockwell Automation Inc.
Siemens AG

Low Voltage Motor Control Center Market Segmentation Analysis:

By Type:

Conventional Motor Control Centers
Intelligent Motor Control Centers

By Component:

Busbars
Circuit Breakers & Fuses
Overload Relays
Variable Speed Drivers
Soft Starters
Others

By End User:

Industrial
Commercial

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.

About Future Market Insights (FMI):

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and market analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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Global Terrain Awareness and Warning System Market Revenue Share to Surpass USD 415 Million by 2033, Growing at 4.7% CAGR

The global terrain awareness and warning system market is estimated to be USD 245 million in 2023. The demand for terrain awareness and warning systems is projected to expand at a CAGR of 4.7%, with its market valuation reaching USD 415 million by 2033.

The global Terrain Awareness and Warning System (TAWS) market is on the brink of transformative growth, fueled by technological advancements, heightened safety concerns, and evolving regulatory landscapes. As we traverse the dynamic skies of innovation, several key factors are propelling the market forward, while a few challenges act as constraints. Here’s a closer look at the driving forces, restraints, and regional insights shaping the future of the TAWS market.

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Key Drivers:

Safety Imperative: The paramount concern for aviation safety is steering the TAWS market towards unprecedented growth. The increasing emphasis on avoiding Controlled Flight Into Terrain (CFIT) incidents has compelled airlines and aviation authorities to adopt advanced TAWS solutions.
Technological Advancements: Continuous innovations in sensor technologies, data analytics, and machine learning are enhancing the capabilities of TAWS, providing pilots with real-time, actionable insights to navigate challenging terrains more effectively.
Regulatory Mandates: Stringent regulations imposed by aviation authorities globally, including the Federal Aviation Administration (FAA) and the European Union Aviation Safety Agency (EASA), are compelling the widespread adoption of TAWS to enhance aviation safety standards.

Key Restraints:

Cost Constraints: The initial investment required for implementing advanced TAWS solutions remains a challenge, particularly for smaller operators and airlines. Striking a balance between safety measures and budgetary constraints poses a considerable hurdle.
Integration Challenges: Integrating TAWS into existing avionics systems can be complex and time-consuming. Compatibility issues with legacy systems may hinder the seamless adoption of TAWS across the aviation industry.

Key Factors and Regional Insights:

Radar-Based TAWS: The market is witnessing a shift towards radar-based TAWS, offering enhanced accuracy and reliability in challenging weather conditions. This trend is particularly prominent in regions with diverse and unpredictable terrains.
North America Dominance: North America is set to lead the TAWS market, driven by robust technological infrastructure, stringent safety regulations, and a high concentration of aviation activities. The United States is expected to be a major contributor to the regional growth.
Asia-Pacific Emerging Markets: The Asia-Pacific region is experiencing significant growth, fueled by rising air travel demands, government initiatives promoting aviation safety, and increasing investments in modernizing aviation fleets.

As we navigate the skies of progress, the Terrain Awareness and Warning System market is poised for exponential growth. While addressing cost constraints and integration challenges, industry players are gearing up to redefine aviation safety standards globally.

Key Players:

Universal Avionics Systems Corporation
Honeywell International Inc.
L3 Technologies Inc.
Avidyne Corporation
Garmin
Collins Aerospace
Sandel Avionics
Aspen Avionics
Genesys Aerosystems
Mid-Continent Instruments and Avionics

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Terrain Awareness and Warning System Market Segmentation

By System Type:

Class A
Class B
Class C

By Engine Type:

Turbine Powered Systems
Piston Powered Systems

By Application:

Commercial Aircrafts
Civil Airlines
Chartered Planes
Civilian/Private Rotorcraft
Military & Defense Aircraft
Fighter Planes
Carrier Planes
Rotorcraft
Other Aircraft

By Region:

North America
Latin America
Europe
Asia Pacific
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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USA Hydrogen Electrolyzer Market Revenue Forecasted to Surpass USD 790.8 Million by 2033, Driven by an Outstanding 23.8% CAGR

The USA hydrogen electrolyzer market is poised for remarkable growth, with projections indicating a robust CAGR of 23.8% from 2023 to 2033. By 2033, it is expected to attain a valuation of approximately USD 790.8 million, marking substantial expansion from the anticipated valuation of around USD 93.2 million in 2023.

Notably, the demand for polymer electrolyte membrane (PEM) electrolyzers is anticipated to play a pivotal role, contributing to over 45% of the market value share by 2023. This significant market share is attributed to the sustained demand for supplementing the natural gas grid to enhance efficiency and facilitate vehicle fueling.

Hydrogen-producing electrolyzers serve as pivotal devices, employing electrolysis to produce hydrogen through the separation of oxygen and hydrogen molecules, driven by electrical energy. As the market continues to evolve, these electrolyzers are expected to play a crucial role in meeting the growing demand for hydrogen across various sectors.

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Growth Factors

The surge in demand for hydrogen electrolyzers in the USA can be attributed to several factors, including legislative initiatives aimed at reducing carbon emissions and increasing financial backing for renewable energy initiatives. The market stands to witness significant growth with the emergence of new and more efficient electrolyzer technologies.

Government-led endeavors to mitigate carbon emissions play a pivotal role in propelling sales of hydrogen electrolyzers. In the USA, legislative measures and policies are actively promoting the adoption of sustainable energy alternatives, particularly hydrogen fuel.

For instance, the USA General Services Administration (GSA) has committed to transitioning to exclusively renewable energy sources for its federal real estate portfolio by the year 2025.

Moreover, the hydrogen electrolyzer industry is expected to receive a boost from substantial adaptations in manufacturing processes triggered by the pandemic in 2020. As businesses pivot towards cleaner, more reliable, and environmentally friendly energy sources, strategic alignment becomes imperative.

Market Trends

The utilization of hydrogen in refinery hydro-processing has witnessed a notable uptick in recent years, along with a growing presence in various secondary end-user sectors, driving demand in the USA.

Specifically, the USA has experienced a significant surge in the demand for hydrogen, particularly in the production of ultra-low sulfur diesel fuel.

Furthermore, the escalating demand for environmentally sustainable energy sources has propelled the market expansion of hydrogen electrolyzers in the USA. This surge is fueled by the increasing preference for cleaner energy alternatives.

Additionally, there is a notable trend towards on-site hydrogen generation among diverse end users, owing to several compelling environmental and economic advantages. These benefits include reduced transportation costs and emissions, as well as mitigated risks associated with gas handling and storage inadequacies.

Key Companies

ABB Ltd.
Bloom Energy
Nel Hydrogen
Air Liquide
Plug Power Inc.
Giner Inc.
Ballard Power Systems
ITM Power Plc
Siemens AG
Tianjin Mainland Hydrogen Equipment Co. Ltd
Gaztransport & Technigaz
Pure Energy Centre
Idroenergy
Erredue SpA
Swiss Hydrogen SA
Shandong Saikesaisi Hydrogen Energy Co., Ltd.
Next Hydrogen

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USA Hydrogen Electrolyzer Market Outlook by Category

By Product Type:

Polymer Electrolyte Membrane (PEM) Electrolyzer
Alkaline Electrolyzer
Solid Oxide Electrolyzer

By Capacity:

Low (<= 150 kW)
Medium (150kW to 1mW)
- 150 to 400 kW
- 400 to 750kW
- 750 to 1mW
High (> 1mW)
- 150 to 400 kW
- 400 to 750kW
- 750 to 1mW

By Outlet Pressure:

Low (≤10 bar)
Medium (10 bar to 40 bar)
High (≥ 40 bar)

By End-use Industry:

Ammonia
Methanol
Refinery/Hydrocarbon Processing
Electronics
Energy
Power to Gas
Transport
Metal Production & Fabrication
Pharma & Biotech
Food & Beverages
Glass Industry
Others

By Region:

West USA
Midwest USA
Northeast USA
South USA

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 States Global Lined Valve Market Size Predicted to Reach USD 5.1 Billion by 2034, Expanding at a 4.1% CAGR Growth

The lined valve market is expected to be valued at USD 3.4 Billion by 2024. The market valuation is registered to be USD 5.1 Billion by 2034, projected at a CAGR of 4.1%.

The growth in the need for corrosion-resistant valves in sectors like water treatment, chemical processing, and oil and gas extraction is a major motivator. Lined valves for industrial facilities have a protracted lifespan with lower maintenance costs due to their better tolerance for corrosive substances, achieved through coatings such as rubber or PTFE.

Strict environmental rules requiring the use of eco-friendly materials in industrial processes also inflame the need for lined valves. Such valves help businesses ensure legal requirements while preserving operational effectiveness.

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Threats and difficulties for the lined valve market are also lined up. The price volatility of raw materials, mainly for commodities like rubber and PTFE, is a serious danger. The cost of materials fluctuates, affecting the prices of lined valves and reducing the profit margins of the manufacturers.

The lined valve market offers a significant market opportunity presented by the rise in the usage of lined valves in emerging economies, where industrial infrastructure construction is intensifying. With developments in valve design and manufacturing techniques, manufacturers innovate and create high-performance lined valves with improvised characteristics that meet certain industrial requirements.

Key Takeaways from the Market Study:

Under type, the ball valve segment is registered to expand at 4% CAGR by 2034.
The United Kingdom is estimated to register at a CAGR of 8% by 2034.
Japan experiences significant growth, projected at a CAGR of 5% by 2034.
Based on material, the polytetrafluoroethylene (PTFE) segment is registered to rise at 8% CAGR by 2034.

“The accelerating demand for corrosion-resistant solutions across industries is one significant driver for the lined valve market,” – opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).

Competitive Landscape:

Important companies offer various lined valve products and tend to lead the lined valve industry. Because of the cutthroat competition, businesses prioritize product innovation and quality to hold onto market share.

Regional firms, hence, add to the competitive environment by serving specialized markets and particular client needs. Some of the key developments are:

In July 2022, Valworx introduced a new series of all stainless air-actuated sanitary butterfly valves. The valves were equipped with Tri-Clamp ends and meet USDA, FDA, and 3-A standards, making them suitable for pharmaceuticals, food, beverage, etc.
In July 2022, Valmet launched Neles Q-Disc, enhancing its butterfly valve range. The innovation assisted its flow balancing in control valve applications, preventing the need for oversized actuators.

Key Manufacturers of Lined Valves:

Emerson
Flowserve Corporation
Crane Co
Neles
KITZ Corporation
Entegris
Samson
Bray International
ChemValve-Schmid AG
EBRO ARMATUREN Gebr
Bröer GmbH

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Lined Valve Market Segmentation Analysis:

By Type:

Ball Valve
Butterfly Valve
Plug Valve
Globe Valve
Gate Valve
Others

By Material:

Polytetrafluoroethylene (PTFE)
Perfluoroalkoxy (PFA)
Modified Polytetrafluoroethylene (TFM)
Polychlorotrifluoroethylene (PCTFE)
Others

By Industry:

Chemical
Petrochemical
Pharmaceuticals
Food & Beverages
Pulp & Paper
Others

By Region:

North America
Latin America
Western Europe
Eastern Europe
South Asia and Pacific
East Asia
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 Analysis Affirms Global Commercial Panini Grill Market Share Estimated to Reach USD 16.7 Million by 2033, Driven by 4.9% CAGR

The global commercial panini grills market is projected to increase at a CAGR of 4.9% during the forecast period between 2023 and 2033, reaching a total of USD 16.7 Million in 2033, according to a report from Future Market Insights (FMI). Growth in sales and profits increased at a CAGR of 3.4% between 2018 and 2022.

Due to the ever-increasing demand for home kitchen equipment as well as the rapidly increasing popularity of cloud kitchen services in the market, the demand for these products has grown significantly in the commercial panini grills market. The growing popularity of healthy breakfasts and the demand for quick snacks will drive growth for this kitchen equipment in the next few years.

Manufacturers are making an effort to offer removable plate designs in order to facilitate easy cleaning in the hospitality sector, as their focus on the development of these machines is growing. Over the forecast period, the panini grills market in the commercial segment is expected to experience significant growth, largely driven by the increasing demand for ready-to-eat meals in the coming years.

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Increasing numbers of restaurants, cafes, and food-service outlets have driven the demand for commercial panini grills. Increasing disposable incomes and the growing popularity of panini sandwiches among consumers are also expected to contribute to the market’s growth in the coming years. A growing number of innovative products with high-tech features, such as nonstick coatings, adjustable temperature settings, and detachable shelves, will also fuel the growth of this market.

Panini grills with rapid heating systems are great for busy kitchens and cafes with a high volume of customers. In addition, it is equipped with dual temperature control which makes it ideal for any sandwich lover who wants to prepare different types of sandwiches or cater to the tastes of their customers. With a sleek stainless steel exterior and robust construction, this panini grill will not only add style to any kitchen but will also last for years to come. Featuring an easy-to-clean nonstick surface, this pan is ideal for releasing food easily and making cleanup a cinch. As a result, the market for commercial panini grills is expected to grow in demand. Besides the floating hinges, this device features a temperature control that lets users cook their sandwiches to the degree of doneness they prefer.

Key Takeaways from the Market Study:

Commercial panini grills in the commercial sector accounted for nearly 19% of the North American market.
In 2022, Germany was the leading country in terms of market value, accounting for 16% of the market as a whole.
Panini grills fueled by electricity are expected to hold a 4.5% share of the global market by 2022.
The Indian market is expected to register the highest growth rate in the market, with a CAGR of 3.6%.
Aluminum panini grills are expected to account for 18.6% of the market during the assessment period.

Competitive Landscape:

Research and innovation are expected to be prioritized by several companies due to product line expansions, acquisitions, and mergers. Key players in Sirman, The Vollrath Company, Cadco, Hatco, Globe Food Equipment, Sammic, Eurodib, Grindmaster-Cecilware, Nemco Food Equipment, Avantco Equipment, Star Manufacturing International, and Anvil.

VEVOR Commercial Sandwich Panini Press Grill is a press, which is equipped with a steel exterior covered with a cast iron grill, allowing for a quick and easy assembly.

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More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the global commercial panini grills market, presenting a historical analysis from 2018 to 2022 and forecast statistics for the period of 2023-2033.

The study reveals essential insights on the basis of type (cast iron panini grills, aluminum panini grills glass panini grills) by end-user (full-service restaurants, quick-service restaurants, hotels, bars, and clubs) and regions (North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa).

Key Segments:

By Type:

Cast Iron Panini Grills
Aluminium Panini Grills
Glass Panini Grills

By End-User:

Full-service Restaurants
Quick Service Restaurants
Bars and Clubs
Hotels

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

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.

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FMI Projects Global Electric Commercial Deep Fryers Market Revenue to Cross USD 1,456.9 Million by 2033, Growing at 6.6% CAGR

The electric commercial deep fryers market is poised for remarkable expansion, envisioning a noteworthy valuation surpassing USD 1,456.9 million by 2033, propelled by a robust Compound Annual Growth Rate (CAGR) of 6.6%. This upward trajectory is fueled by the growing presence of food-service establishments and an increasing demand for high-capacity deep fryers. The distinctive feature of these high-capacity fryers, facilitating simultaneous cooking of multiple food items, serves as a significant driver, leading to considerable labor cost savings.

The exponential rise of the commercial electric deep fryers market is intricately linked with the widespread proliferation of quick-service restaurants. Driven by evolving consumer preferences and the fast pace of modern lifestyles, quick-service restaurants are experiencing notable success. Electric deep fryers, renowned for their efficiency and convenience, have emerged as the preferred choice for these establishments, adeptly meeting the burgeoning demand. In this dynamic and competitive landscape, the electric commercial deep fryers market assumes a pivotal role in the culinary domain, delivering both operational efficiency and heightened flavor to the food-service industry.

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Rising Demand for Electric Commercial Deep Fryers: Driven by Diverse Culinary Businesses

The escalating popularity of small restaurants, fast food stations, cafés, and eateries is set to fuel the demand for electric commercial deep fryers. This surge is further bolstered by the remarkable growth of e-commerce platforms and retail outlets, which are contributing to the widespread adoption of these devices across the market.

Innovations Enriching Deep Fryer Capabilities:

As electric commercial deep fryers undergo advancements, they are becoming equipped with a plethora of features, ranging from thermostats, timers, and baskets to oil filters, automatic shutoff mechanisms, digital displays, and more. This enhanced functionality allows businesses to offer customers a wider variety of options, resulting in heightened efficiency and reduced waste. The convenience and versatility of these fryers have made them particularly attractive for cafeterias, which benefit from an array of food choices and efficient large-batch cooking capabilities.

Key Insights from the Market Analysis:

The global electric commercial deep fryers market was valued at USD 721.3 million in 2022.
Digital fryers are projected to capture 42% of total sales by 2023, based on operating mode.
Cafeterias are the predominant users of electric commercial deep fryers, constituting over 54% of sales in 2023.
The United States emerged as a hub for sales in 2022, commanding a market share of 36.7%.
China is anticipated to exhibit rapid growth, with an expected CAGR of 5.9%.
The market is set to expand 1.9 times from 2023 to 2033.

Prominent Players and Future Prospects:

Companies are poised to intensify their focus on research and innovation, leading to product line expansions, acquisitions, and mergers.

Key players include Breville, Hamilton Beach, Cuisinart, AKASA, Middleby Corporations, Avantco Equipment, MVP Group Corporation, Huayu, Welbilt, Globe Food Equipment, Henny Penny, and Alister.

AB Electrolux, for instance, offers a range of single and double-well commercial electric floor-standing fryers, complete with overheat protection and thermostatic oil temperature control up to 365 degrees Fahrenheit. The company also provides countertop and portable fryer options.

Comprehensive Insights:

Future Market Insights presents an unbiased analysis of the global electric commercial deep fryers market, encompassing historical data from 2018 to 2022 and forecast statistics for 2023-2033.

The study provides crucial insights based on capacity, material, operating mode, end-user, and regions, helping stakeholders gain a comprehensive understanding of market trends and opportunities.

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Key Segments Profiled in the Electric Commercial Deep Fryers Market Survey:

By Capacity:

Up to 5 Litres
5 to 15 litres
Above 15 litres

By Material:

PTFE (Polytetrafluoroethylene)
Plastic
ETFE (Ethylene Tetrafluroethylene)

By Operating Mode:

Digital Control
Manual or Mechanic Control

By End-User:

Hotels
Cafeterias
Quick Service Restaurants
Food Trucks

By Region:

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

Author:

Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.

Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

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Global Outdoor Commercial Grills Market Valuation Forecasted to Surpass USD 5.0 Million Mark by 2033, Growing at 5.8% CAGR

The global Outdoor Commercial Grills market size is expected to be valued at USD 2.8 Million in 2023. With the continual expansion of the foodservice industry, the overall scope for Outdoor Commercial Grills Market is projected to grow at a CAGR of 5.8% between 2023 and 2033, totaling around USD 5.0 Million by 2033.

Another factor driving the growth of the outdoor commercial grills market is the rising popularity of healthier cooking methods. Grilling and barbecuing are considered to be healthier alternatives to frying, and as consumers become more health-conscious, they are increasingly opting for grilled and barbecued foods. This trend is fueling the demand for outdoor commercial grills in the foodservice industry and among home consumers.

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In addition, the increasing popularity of outdoor living spaces is accelerating the demand for outdoor commercial grills. With the growing trend of creating outdoor living spaces such as balconies, terraces, and gardens, people are looking for ways to enhance their outdoor experiences, including cooking and entertaining guests.

Moreover, the expansion of distribution channels is also expected to boost the market prospects. Manufacturers of outdoor commercial grills are expanding their distribution channels, including online sales, to reach a wider customer base. The growth of e-commerce platforms has made it easier for consumers to purchase outdoor commercial grills online, and this trend is expected to continue in the coming years.

Furthermore, the hospitality and tourism industry is also expected to play a significant role in driving the growth of the outdoor commercial grills market. With the increasing number of hotels, resorts, and restaurants in emerging markets such as Asia Pacific, the demand for outdoor commercial grills is expected to grow significantly. In addition, the rise of food trucks and pop-up restaurants is also expected to drive the demand for outdoor commercial grills, as these businesses often rely on portable cooking equipment.

Besides, manufacturers are continuously innovating and introducing new features such as smart connectivity, temperature control, and portability in their outdoor commercial grills to cater to the changing consumer preferences.

Additionally, outdoor commercial grills are becoming increasingly popular in outdoor events, festivals, and gatherings. The rising trend of outdoor catering services is expected to drive the demand for outdoor commercial grills in the foodservice industry.

Key Takeaways from the Market Study

Global Outdoor Commercial Grills Market was valued at USD 2.6 Mn by 2022-end

From 2018 to 2022, the market demand expanded at a CAGR of 1%
North America is expected to hold the highest market share of 5% during the forecast period.

By Mobility, the Stationary segment is expected to constitute a CAGR of 5.6% in 2033.
On the basis of Grilling Fuel, the Propane Tank segment is expected to dominate the market with a CAGR of 5.5% in 2033.

From 2023 to 2033, Outdoor Commercial Grills services are expected to flourish at a CAGR of 8%.

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Competitive Landscape

Prominent players in the Outdoor Commercial Grills market are Backyard Pro, Crown Verity, Holstein Manufacturing, Louisiana Grills, Magikitch’n, Meadow Creek, Blackstone, R&V Works, Southern Pride, Old Country BBQ Pits, Middleby Corporation, Traeger Pellet Grills, Lynx Grills, Inc., Char-Broil LLC, Nuke BBQ, Pit Boss Grills, Weber, Kamado Joe, and Dyna Glo, among others.

Recent Developments:

In February 2021, Traeger Pellet Grills LLC launched its new Timberline 1300 Wi-Fi-enabled pellet grill, which features a variety of smart cooking features and can be controlled via a smartphone app.
In September 2020, Lynx Grills, Inc. announced the release of its new SmartGrill, which features a variety of smart cooking features and can be controlled via a smartphone app.
In October 2020, The Middleby Corporation acquired Ss Brewtech, a manufacturer of outdoor commercial grills and other brewing equipment.

Market Segmentation:

Outdoor Commercial Grills Market by Category:

Gas Grill
Charcoal Grill
Pellet Grill
Electric Grill

Outdoor Commercial Grills Market by Mobility:

Portable Outdoor Grills
Stationary Outdoor Grills
Towable Outdoor Grills

Outdoor Commercial Grills Market by Grilling Fuel:

Lump Charcoal
Propane Tanks
Wood Chips
Wood Pellets
Smoker Pellets

Outdoor Commercial Grills Market by Region:

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

Author:

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)

Contact Us: