Market Research Blog – Page 1763 – New Product Development

Global Deflectometer Market Set to Grow at a 8% CAGR, Projected to Reach USD 1.4 Billion by 2032

The global demand for deflectometers is projected to reach a valuation of USD 650 million in 2022, with an anticipated robust growth rate of 8% CAGR, propelling the market to an estimated USD 1.4 billion by 2032. This substantial growth underscores the increasing utilization of deflectometers across various industries, driven by advancements in technology and the rising need for precise measurements in infrastructure development, maintenance, and safety assessments. As the demand for high-accuracy, reliable measurement tools continues to surge, the deflectometer market is set to experience significant expansion over the next decade.

Deflectometers are used for operations such as the evaluation of the physical properties of pavements. Since the past few years, rapid urbanisation, industrialisation and economic growth rates are significantly boosting construction and building activities.

These developments are creating the need for constant upgradations in infrastructure and properties, which has resulted in an increase in the number of construction activities for infrastructure and roadways. This trend has resulted in an increase in the need for using testing equipment and devices such as deflectometers.

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The manufacturers of deflectometers are witnessing an increase in the demand for deflectometers since the past few years due to the unique and necessary applications of deflectometers in construction areas. The manufacturers of deflectometers are offering their products in different types, such as benchtop, heavy duty and others, for providing industry-specific deflectometers.

Moreover, deflectometers are available as per their varying application areas, which is resulting in the increasing popularity of deflectometers for the improvement of the quality of pavements and construction projects. For example, the LWD Lightweight Deflectometer is used for the determination of the overall compaction quality of different types of earthworks.

LED devices are preferred for their fast, simple and repeatable tests as these tests can provide more reliable results for end users.

Deflectometer Market: Drivers and Restraints

The increasing applications of deflectometers in the process of deflection testing is one of the prime factors driving the market as deflection testing is used for the analysis and designing of highways. Due to changing end user requirements, manufacturers are performing constant modifications so that these deflectometers can test pavements of any type.

The increasing importance of studying pavement properties is one of the prime factors fuelling the growth of the deflectometer market. The applications of deflectometers for performing operations such as pavement rehabilitation & overlay, PCC joint sealing evaluation, void detection, spring load restrictions and others, is expanding the areas of application and increasing demand for deflectometers.

In addition, deflectometers are available with integrated Wi-Fi, USB, GPS and others. These are some of the key factors that are significantly driving the deflectometer market. On the other hand, the high prices of deflectometers is one of the major challenges hindering the growth of the deflectometer market.

Deflectometer Market: Key Players

Some of the leading providers of deflectometers include Illinois Tool Works Inc., PaveTesting Limited, ARA, Olson Instruments, Dynatest, Aimil Ltd., Humboldt Mfg. Co., Controls Group, EPSILON TECHNOLOGY CORP, Abatech and others. Constant innovations in their products to deliver products of better quality is one of the prime strategies followed by the manufacturers of deflectometers. In addition, manufacturers are also focusing on geographical expansion for increasing the sales of their products by entering into new markets. For example, Humboldt Mfg. Co., which is one of the leading manufacturers of deflectometers, is offering LWD with features such as colourful display, in-built light sensor, easy navigation menu and others. These advancements are fuelling the demand for deflectometers.

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Key Segments Profiled in the Deflectometer Industry Survey

Deflectometer Market by Equipment Type:

Falling Weight Deflectometer
Light Weight Deflectometer
Rolling Wheel Deflectometer

Deflectometer Market by Region:

North America Deflectometer Market
Latin America Deflectometer Market
Europe Deflectometer Market
Asia Pacific Deflectometer Market
Middle East & Africa Deflectometer Market

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 ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

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Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Future Industry Growth of Lentil Bread Market is Projected to Reach at a USD 1.25 Billion by 2033 with Sustainable Plant-Based Innovation

The demand for lentil bread market is projected to reach a value of $616.5 million by 2023 and is expected to continue growing, reaching a value of $1249.2 million by 2033. The sales of lentil bread are expected to experience steady growth, with a projected CAGR of 8.1%.

The lentil bread market is witnessing a surge in demand for plant-based protein sources as consumers shift towards more sustainable and environmentally conscious diets. Lentil bread, being high in protein, is becoming a popular alternative to traditional meat-based protein sources. This trend is particularly relevant for vegetarians and vegans who are looking for plant-based food options.

The demand for lentil bread is also experiencing a rise in the popularity of artisanal and organic bread, as consumers seek out more natural and authentic food options. Lentil bread, being a traditional food item in some regions and organic, is becoming more popular among consumers looking for artisanal and organic bread options. This trend is particularly relevant for consumers who are looking for healthy, sustainable, and safe food options.

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Consumers are increasingly looking for convenient and ready-to-eat products as their lifestyles become more hectic. Companies are responding to this trend by introducing pre-packaged and ready-to-eat lentil bread products, catering to consumers who are looking for on-the-go food options.

The growing awareness of the environmental impact of packaging is driving the trend toward sustainable packaging options. Companies are introducing lentil bread products that use sustainable packaging materials, catering to consumers who are looking for eco-friendly food options.

Innovative packaging designs are being introduced to grab the attention of consumers and differentiate products from others. Lentil bread market players are making their packaging more visually appealing, catering to consumers who are looking for visually appealing food options.

Key Takeaways

The demand for lentil bread is growing due to increasing demand for plant-based and gluten-free food options
Lentil bread is becoming more popular as consumers become more aware of its health benefits
There is an increasing demand for international food options, including lentil bread
Companies are introducing new flavors and varieties of lentil bread to meet the changing needs of consumers
The lentil bread industry is being shaped by trends such as increasing demand for organic and non-GMO products, the growing popularity of high-protein bread, rising demand for gluten-free bread, innovative packaging designs, and online sales channels
Startups are focusing on creating new flavors, varieties, and sustainable packaging options.

Competitive Landscape

The competitive landscape in the lentil bread market is becoming increasingly crowded with the entry of new players and the expansion of existing players. The market is characterized by the presence of a large number of small and medium-sized enterprises, as well as a few large players.

Some of the key players in the lentil bread industry include Bob’s Red Mill, Le Pain des Fleurs, Ener-G Foods, Glutino, and Schar. These companies have a strong presence in the market and offer a wide range of lentil bread products. They have a strong distribution network and can reach a large number of consumers.

There is also a growing number of startups and small companies that are entering the market, offering innovative and niche products. These startups are focusing on creating new flavors and varieties of lentil bread, as well as introducing new packaging designs and sustainable packaging options.

The startup ecosystem in the market is relatively new, but it is rapidly growing. Many of these startups are focusing on creating new flavors and varieties of lentil bread, as well as introducing new packaging designs and sustainable packaging options. They are also focusing on creating new marketing and distribution channels to reach new customers.

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Key Segments

Source:

Organic
Conventional

Type:

Red Lentil
Green Lentil
Brown Lentil
Yellow Lentil

Region:

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

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
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Website: https://www.futuremarketinsights.com
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Automotive Gas Charged Shock Absorber Market Worth USD 6,154.30 Million by 2033, with a CAGR of 5.3% | FMI Reports

The global automotive gas charged shock absorber market is projected to generate USD 3,671.90 million in revenue in 2023. According to our automotive domain experts, providers in this market can anticipate an average CAGR of 5.3% through 2033, reaching a forecast valuation of USD 6,154.30 million by 2033.

A senior research analyst at Future Market Insights explains the market dynamics: “Driver safety and driving comfort are the two major factors driving the demand for automotive gas charged shock absorbers globally. As a crucial component of a vehicle’s suspension system, these shock absorbers reduce the impact of traveling over rough terrains by controlling excessive suspension movements, thus providing a firmer ride. The ride and handling performance of a vehicle will remain key influencers in consumer purchasing decisions, especially in regions with poor road conditions.”

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The analyst further elaborates: “Vehicles, ranging from passenger cars to heavy-duty trucks, are increasingly being equipped with damping control technology. This technology ensures improved on-road performance and protects critical vehicular components from premature wear and failure.”

Technologically Advanced Electronic and Monotube Variants to Take Over Conventional Shock Absorbers

Compared to the twin-tube design, a monotube shock absorbers are being increasingly preferred owing to its design that further prevents any aeration and cavitation from occurring. Considered ideal for luxury sedans, SUV rear axles, and sports car applications, monotube shock absorbers offers faster damping reaction and prompt responses to changing road conditions, as a result of continuous pressure exerted on the oil, by the gas.

M&A Remains a Preferred Forward Market Strategy

FMI anticipates strategic mergers and acquisitions to remain a critical expansion strategy among manufactures of automotive gas charged shock absorbers, creating a substantial opportunity for the shock absorber market. Some key developments include:

Recently, Samvardhana Motherson Group (SMG) entered in a partnership with MS Global India Pvt. Ltd., engaged in the manufacturing of pressed sheet metal and frames for chassis used in commercial vehicles. This partnership is aimed at business expansion in the automotive vehicle components sector. During the same fiscal year, the company established a shock absorber manufacturing company, Magnetti Marelli Shock Absorbers India Pvt. Ltd., to supply shock absorbers for automotive vehicles.
In 2018, Tenneco Inc. offered Continuously Variable Semi-Active (CVSA2) suspension technology for SUVs of Mercedes-Benz G-Class. The aim for this product launch was to enrich its market share in the SUV vehicle segment.

FMI Offers Segmentation Analysis of Automotive Gas Charged Shock Absorbers

Europe, is anticipated to remain the most lucrative region as the automotive parts and accessories industry continues to remain strong in the region, on account of positive sentiment and perception towards European parts and component. Moreover, intense transition towards EVs and ADAS, collaboration with tech companies, and increasing investment in R&D are likely to be the key trends in the Europe automotive gas charged shock absorbers market.
Automotive gas charged shock absorbers market in India and SEAP is anticipated to grow at a notable growth rate during the forecast period
Sales of automotive gas charged shock absorbers through OEM channel is anticipated to represent a market share of nearly 45 percent, through the forecast period of 2018 to 2027, growing at USD 181.9 Million annually.
Revenue from aftermarket automotive gas charged shock absorbers segment is anticipated to increase at moderate CAGR, valued a little over USD 208 Million by 2027.

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Automotive Gas Charged Shock Absorbers Market: Segmentation

Sales Channel:

OEM
Aftermarket

Vehicle Type:

Passenger Car
LCV
HCV
Two Wheelers

Design Type:

Twin
Mono

Region:

North America
Latin America
Europe
Japan
APEJ
MEA

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
LinkedIn| Twitter| Blogs | YouTube

Mobile Speech Recognition Software Market is Growing at a Strong CAGR of 22.5% by 2032 | Future Market Insights, Inc.

The mobile speech recognition software market is projected to develop at a CAGR of 22.5% from 2022 to 2032, reaching a value of USD 3.3 billion in 2022 and USD 25.4 billion by 2032.

In enterprise applications, increasing adoption of conversational user interface (CUI) as a more prolific way to communicate among mobile devices like smartphones, tablets, etc. The proliferation of smartphones with advanced features and the development of voice-based applications is penetrating the demand for mobile speech recognition technologies positively.

Furthermore, several developments in the creation of cutting-edge algorithms and the processing capacity of modern smartphones will aid in providing effective voice recognition.

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Mobile Speech Recognition Software Market: Drivers and Restraints

A crucial requirement of biometric authentication in mobile banking is leading to the intensified integration of speech authentication, thus driving the market for Mobile Speech Recognition Software. Moreover, rising awareness of the multi-functionality of mobile devices in speech recognition technologies is also turning up as another important factor driving the growth of the market positively.

Lack of accuracy in noisy working environments is an important restraint, faced by most of the vendors in the Mobile Speech Recognition Software market.

Global Mobile Speech Recognition Software Market: Regional Outlook

Based on geography, the Mobile Speech Recognition Software market can be segmented into seven key regions namely North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, and Middle East & Africa.

Among various regions, the Mobile Speech Recognition Software market in North America is expected to dominate the market during the forecast period. Asia Pacific region will witness high growth, as increasing awareness among consumers and the low cost of biometric devices will boost the demand for Mobile Speech Recognition Software in a positive manner.

Key Players:

Nuance Communications Inc
Alphabet Inc
Apple Inc
Baidu Inc
Amazon Inc
Microsoft Corporation
VoiceBox Technologies Corporation
LumenVox, LLC
Pareteum Corporation, Sensory
ReadSpeaker Holding B.V.
VoiceVault Inc.

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Key Segmentation:

By Vertical:

Healthcare
Military
Automotive
Retail
Government
Education
BFSI
Others

By Region:

North America
Latin America
Asia Pacific
Middle East and Africa
Europe

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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Growing Demand and Trends of Sugar-Based Excipients Market to Attain a Valuation of US$ 1.07 Billion by 2033

Sugar-based Excipients Market1 — Sugar-based Excipients Market

As of 2033, the global demand for sugar-based excipients was valued at US$ 1068.41 million, growing at a CAGR of 4.8%. In 2023, the market was valued at US$ 1707.46 million. This rise in market value is due primarily to the increased use of combination-processed excipients.

It is anticipated that the rapid growth of the global generics market due to the patent expiration of several blockbuster drugs, as well as the increasing development of orally disintegrating tablets (ODTs) will propel the growth of this market. Co-processed excipients are used to enhance the dissolution, bioavailability, and solubility of recently developed active pharmaceutical ingredients (APIs).

A growing market for orally disintegrating tablets is booming as their popularity and development grow. Unlike traditional tablets, orally disintegrating tablets dissolve on the tongue instead of being swallowed whole. As the number of elderly and pediatric patients increases, so does the need for orally disintegrating tablets.

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“Increasing utilization of co-processed excipients, patent cliffs for sugar excipients, and advancements in orally disintegrating tablets (ODTS) are factors driving sugar-based excipients market growth.” says a lead analyst at Future Market Insights.

Key Takeaways from Market Study

The sugar-based excipients market is expected to grow at a CAGR of 4.8% over the forecast period.
According to estimates, the sugar-based excipients market in North America will remain strong throughout the length of the forecast period.
In terms of type, the powder segment accounts for a significant share of the market since it is widely used in pharmaceutical applications.
The actual sugar segment is projected to reach a revenue share of US$ 750.5 million by 2033 and is expected to expand at a CAGR of 4.4%.
The U.S. sugar-based excipients market is expected to record a CAGR of 3.5% during the forecast period.
China’s sugar-based excipients market is projected to reach revenues of US$ 258.5 million by 2033. This is expected to deliver the fastest CAGR of 6.7%.

Competitive Landscape:

Several prominent companies dominate this market, including Ashland Inc., Associated British Foods Plc, BASF SE, Colorcon, Inc., Cargill, Inc., DFE Pharma, FMC Corporation, MEGGLE AG, Roquette Group, and The Lubrizol Corporation and others.

Excipient companies engage in a variety of key activities, including product launches, expansions, and distribution network expansions, as well as establishing global footprints through subsidiaries and partnerships.

Using these activities, manufacturers can gain a larger share of the market, expand their product portfolios, and expand their reach to different regions. They can also gain access to new markets and advanced technologies through partnerships with other companies. Major players also acquire companies, merge, and diversify their portfolios.

Recent Developments:

In September 2022, Roquette acquired Crest Cellulose, an Indian company that manufactures pharmaceutical and nutraceutical excipients. By acquiring Crest Cellulose, Roquette is gaining access to a larger market and expanding its portfolio of excipients. This acquisition gives Roquette a more comprehensive range of excipients and allows Roquette to gain more market share in India.
In July 2022, DFE Pharma introduced Lactohale 400, a lactose-free, non-GMO, plant-based excipient that can be used in tablets, capsules, and granules. It is a lactose-free, non-GMO, plant-based excipient. To meet the increasing demand for natural, sustainable excipients in the nutraceutical and pharmaceutical industries, the product was developed.
The Roquette Group (France) has developed a wide range of sugar-based excipients that are proven to work in the industry. In Lestrem, France, the Roquette Group opened a pharmaceutical application development center. With this upgraded facility, the company was able to develop excipients and active ingredients more effectively.
For the growing demand for excipient products as well as services in Shanghai, China, DFE Pharma (Germany) opened a new sales office.

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Sugar-based Excipients by Category

By Product, the Sugar-based Excipients Market is Segmented as:

Actual Sugar
Sugar alcohols
Artificial sweeteners

By Type, the Sugar-based Excipients Market is Segmented as:

Powders
Direct Compression Sugars
Crystals
Syrups
Others

By Functionality, the Sugar-based Excipients Market is Segmented as:

Fillers and Diluents
Flavoring Agents
Tonicity Agents
Others

By Formulation, Sugar-based Excipients are Segmented as:

Oral
Parenteral
Topical
Others

By Region, Sugar-based Excipients are Segmented as:

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

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.

Fiber Optic Test Equipment Market Projected to Reach USD 1.78 Billion by 2033 with a 6.8% CAGR

Fibre Optic Test Equipment Market Outlook

The fiber optic test equipment market is poised for substantial growth, projected to reach USD 923 million by 2023 and expected to expand further at a compound annual growth rate (CAGR) of 6.8% to USD 1,779.9 million by 2033. This growth reflects increasing demand driven by expanding fiber optic networks globally, necessitating advanced testing and maintenance solutions to ensure network reliability and performance. Technological advancements and the rising adoption of fiber optics in telecommunications, data centers, and broadband applications are key factors contributing to this market expansion.

As the telecommunications industry quickly adopts all the fiber optic cable types for high-speed data transfer, the relevance of fiber optic testing equipment for these has grown over the years in production, inspection, on-field troubleshooting of network systems, and research and development phases across industries.

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Forecast for the Region

North America is likely to have the lion’s share of the global fibre optics test equipment market due to full-stream 4G deployments. While having a small share of the global fibre optic test equipment market, Asia Pacific is predicted to develop at a considerable rate, driven by increased FTTH implementation in emerging nations such as China and India.

Governmental policies for FTTH implementation, as well as the increasing use of smartphones, drive fibre optic test equipment demand in China, creating prospects for the Chinese fibre optic tools market.

Market Dynamics and Constraints for Fibre Optic Test Equipment

The expanding number of fibre cable networks may fuel fibre optic test equipment demand. The growing demand for real-time operations necessitates constant testing of insertion loss and bandwidth to provide services efficiently. This need creates enormous prospects for the fiber optic testing equipment market.

From a technological standpoint, the fibre optic test equipment market may be driven by the deployment of real-time 40-gig and 100-gig network deployments, which may create a demand for high fibre optic performance.

The increasing complexity of electronic devices and networks necessitates the development of fibre optic test equipment that is simple to use and has improved functionality. Increased fiber optic testing frequency can boost market revenue by enabling better error rate testers and next-generation fiber optic testing systems.

Although the fibre optic tools market is expanding significantly, customers’ lack of testing awareness is preventing market expansion.

Key Takeaways

The United States to acquire a market share of 21.2% from 2023 to 2033.
Germany’s fibre optic tools market is to hold a market share of 4.9% between 2023 and 2033.
Japan to acquire a global market share of 3% from 2023 to 2033.
Australia market to hold a market share of 3.4% between 2023 and 2033.
China to develop at a fibre optic test equipment market CAGR of 8% during the forecast period of 2023-2033.
India to accelerate at a fibre optic tools market CAGR of 10.7% between 2023 and 2033.
The United Kingdom to advance at a fiber optic testing equipment market CAGR of 4.8% during the forecast period of 2023-2033.
The optical time domain reflectometers (OTDR tester) segment in the equipment category is to have a market share of 35.7% from 2023 to 2033.

Key Players in the Fibre Optic Test Equipment Market

Anritsu
Keysight Technologies
Viavi Solutions
EXFO
National Instruments
Yokogawa Electric

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Key Segmentation in the Fibre Optic Test Equipment Market

By Equipment Type:

Optical Light Sources
Optical Power & Loss Meters
Remote Fiber Test Systems
Optical Time Domain Reflectometers
Optical Spectrum Analyzers
Other Test Equipment

By Portability Type:

Handheld/Portable
Bench-top

By End Use:

Telecommunication Service Providers
Network Equipment Manufacturers
Data Centers
Cable Operator
Educational & Research Institutes
Others

By Region:

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

About Future Market Insights (FMI)

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Rail Gangway Market is expected to Reach USD 798.5 Million by 2033, with a CAGR of 4.9% | FMI Reports

The global rail gangway market is anticipated to reach a valuation of USD 494.9 million in 2023, propelled by public-private partnerships. This trend is expected to create new opportunities, leading to a projected CAGR of 4.9% between 2023 and 2033, and a total valuation of approximately USD 798.5 million by 2033.

One major factor contributing to the growth of the rail gangway market is the continuous improvement of safety features. Innovations in safety, such as anti-collision systems, emergency evacuation mechanisms, and crashworthiness, are critical trends driving the market.

The adoption of lightweight materials and advanced manufacturing processes can result in gangway systems that are durable yet reduce the overall weight of trains, thereby improving energy efficiency. These gangway systems are not only essential for commuter and high-speed trains but also have a significant market in luxury and tourism-oriented trains, where passenger experience and comfort are paramount.

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Rail operators are increasingly seeking gangway systems that ensure compliance with stringent accessibility regulations for people with disabilities. Additionally, government incentives and mandates aimed at reducing greenhouse gas emissions are likely to spur investments in rail infrastructure, including energy-efficient gangway systems.

The integration of rail systems into broader urban mobility plans and multi-modal transportation networks presents opportunities for gangway systems that facilitate seamless transfers between different modes of transportation, especially as cities become smarter.

Providing maintenance, repair, and upgrade services for existing gangway systems offers a significant growth opportunity for companies in the rail gangway market, particularly with the growing emphasis on green transportation. The development of hybrid and hydrogen-powered trains is another trend to watch, as gangway systems will need to adapt to these new types of rail vehicles.

Standardizing gangway systems across regions and rail networks can streamline manufacturing processes and enhance interoperability, fostering international trade and market growth. Emerging economies with expanding urban populations are investing in rail infrastructure, presenting opportunities for companies to supply gangway systems for their developing rail networks.

The rail industry has seen mergers and acquisitions that could lead to consolidation or diversification of product offerings, impacting the rail gangway market. Gangway systems integrated with passenger information systems, offering real-time updates, entertainment, and Wi-Fi connectivity, can enhance the passenger experience and improve competitiveness for rail operators.

Key Takeaways from the Market Study

Global Rail Gangway market was valued at USD 470.7 million by 2022-end.

From 2018 to 2022, the market demand expanded at a CAGR of 4.6%.
The market in India is expected to expand at a CAGR of 9.6% through 2033.

By material type, the aluminum segment to account for a share of 53.4% in 2033.
From 2023 to 2033, rail gangway market is expected to flourish at a CAGR of 4.9%.
By 2033, the market value of rail gangway is expected to reach USD 798.5 million.

The electrification of rail fleets, especially in regions aiming to reduce carbon emissions, creates opportunities for innovations in gangway systems that can accommodate power supply needs and potentially contribute to energy recovery during braking, remarks an FMI analyst.

Competitive Landscape

Prominent players in the rail gangway market are Hubner GmbH & Co. KG, Narita Mfg. Ltd., Airflow Equipments (India) Pvt. Limited, Dellner Couplers AB, Schliess- und Sicherungssysteme GmbH, Hutchinson Paulstra, Chongqing Hengtai Electromechanical Equipment Co., Ltd., ATG Autotechnik GmbH, and Bellow and Bus (Pty) Ltd., among others.

Recent Developments

In 2023, KTK Group announced the expansion of its production capacity for rail gangways at its plant in Japan. The expansion is expected to meet the growing demand for rail gangways in Asia and other parts of the world.
In 2022, Schliess- und Sicherungssysteme announced the development of a new automated rail gangway system. The system is designed to improve the efficiency and safety of rail operations.
In 2022, ATG Autotechnik announced the launch of its new lightweight and durable rail gangway system. The system is designed to reduce the weight of railcars, which can lead to fuel savings and reduced emissions.

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Rail Gangways Market by Category

By Product Type:

Single Piece Gangways
Two Piece Gangways

By Material Type:

Steel
Aluminum
Alloys
Composites

By Train Type:

Passenger train
Metro/Subway train
High speed train
Special train

By Region:

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

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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Ship Repair and Maintenance Service Market Worth USD 53,375.69 Million by 2034, with a CAGR of 6.6% | FMI Reports

The ship repair and maintenance service market is projected to be valued at USD 28,169.45 million in 2024. With a moderate CAGR of 6.6% from 2024 to 2034, the global market is expected to reach USD 53,375.69 million by 2034.

The expanding manufacturing industry and increased industrialization have led to higher consumption of logistics services, including ship-based logistics operations, driving demand in the ship repair and maintenance services market.

Rapid industrialization and the preference for cost-effective seaborne trade over expensive airborne logistics are expanding the market size for ship repair and maintenance services.

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The rise in industrial manufacturing goods and the effects of globalization have significantly increased the demand for ship repair and maintenance services. Additionally, reconditioning and transforming ships have contributed to market growth.

Government programs aimed at enhancing shipbuilding and maintenance practices through tax incentives, coupled with proliferating private investments, are likely to boost the adoption of ship repair and maintenance services.

Ship owners consider repair and maintenance essential for ensuring ship health and cargo safety, resulting in long-term savings of time and money.

Key Points

The Asia Pacific region tops the tally when it comes to the consumption of ship repair and maintenance services, while China holds the biggest market share of USD 9.1 Billion in 2023 and highest CAGR of 7.4 during the forecast period.
Followed by China, South Korea to cross a value of USD of 4.2 Billion by 2033.
Being another significant market for ship repair and maintenance services, US thrives at a CAGR of 4.8% during the forecast period while expecting a value of USD 1.6 Billion by 2033.
Oil and chemical tankers segment performs better than its counterparts in the vessel type category as it goes through the regressive routine and carries tons of oil through the longer commercial sea routes. It is expected to thrive at a CAGR of 6.4% during the forecast period.
The service and maintenance of hull is the ship’s watertight enclosure and it tops the service type category with a CAGR of 6.2% by 2033.

Competitive Landscape

The competitors focus on the addition of newer maintenance equipment and technology. Furthermore, the vendors also work on the “One stop shop” model to provide each service type under one roof.

Key players in the ship repair and maintenance services market are: Damen Shipyards Group, Sembcorp Industries Ltd, Cochin Shipyard Limited, China Shipbuilding Industry Corporation, Fincantieri S.p.A., Dae Sun Shipbuilding & Engineering Co. Ltd, Hyundai Mipo Dockyards Co. Ltd, Arab Ship building and Repair Yard Company, Keppel Corporation Limited, United Shipbuilding Corporation, Alexandria Shipyard, Dormac Ship repairs, Astican, and HOSEI CO. LTD

For instance:

Arab Shipbuilding and Repair Yard Company has revisited the business model and added ship recycling in its services. Other than this, the company provides ship repair & conversion, rig repair, and navel repair along with fabrication and engineering.
Dormac Ship repairs introduce its repair services like CNC machining, fabrication, cofferdam repairs, electrical circuit repairing etc.

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Key Segmentations

By Vessel Type:

Oil and Chemical Tankers
Bulk Carriers
General Cargo
Container Ships
Gas Carriers
Offshore Vessels
Passenger Ships and Ferries
Mega Yachts and Other Vessels

By Service Type:

General Services
Dockage
Hull Part
Engine Parts
Electric Works
Auxiliary Services

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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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Automotive Turbocharger Market Races Towards USD 41.5 Billion by 2033, with a CAGR of 9.6% | FMI Reports

The global automotive turbocharger market is projected to reach USD 16.6 billion in 2023 and is expected to grow to USD 41.5 billion by 2033, with an anticipated CAGR of 9.6% throughout the forecast period.

Turbochargers enhance engine efficiency by compressing intake air, improving combustion and power production. This is especially crucial as governments worldwide enforce stringent emission standards, encouraging automakers to develop more fuel-efficient vehicles.

In automotive turbochargers, exhaust gas powers a turbine, which in turn drives an air compressor. This compressor forces additional oxygen into the engine’s cylinder, allowing more fuel to burn and increasing fuel efficiency. Turbochargers boost the air pressure entering the engine, thereby improving overall fuel economy.

Variable geometry (VG) turbochargers offer high supercharging efficiency across a range of engine speeds, outperforming waste gate turbochargers. This efficiency is due to the integration of variable mechanism stator vanes at the turbine rotor blade’s input nozzle.

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Pairing mirror cycle direct injection gasoline engines with variable geometry turbochargers can significantly enhance a vehicle’s fuel efficiency. Direct injection and cooled exhaust gas recirculation improve the knocking limit, providing a solid foundation for the adoption of variable geometry turbochargers.

E-turbochargers, or electric turbochargers, are expected to gain significant popularity during the forecast period. Unlike traditional turbochargers, e-turbochargers use an electric motor to help spool up the turbocharger, reducing turbo lag. This system can generate electricity for the vehicle network, potentially reducing the alternator’s load on the engine and saving fuel.

The primary driver of increased engine performance demand is the need for higher power density and precise torque for downsizing and down-speeding, which can enhance fuel efficiency while maintaining the dynamic performance of vehicles.

Key Takeaways from the Automotive Turbocharger Market Report:

In the historical period 2018 to 2022, the global automotive turbocharger industry expanded at a CAGR of 8.7%.
The United States automotive turbocharger industry is expected to reach a valuation of US$ 1.8 billion by 2033.
Germany automotive turbocharger industry is expected to top a value of USD 1.4 billion by 2033.
By product type, the VGT segment is expected to dominate the automotive turbocharger industry with a CAGR of 9.8% from 2023 to 2033.
China automotive turbocharger industry is anticipated to cross a valuation of USD 3.1 billion in 2033.

Competitive Landscape:
Several businesses would concentrate on increasing the range of products they offer to cater to demands of multiple vehicle segments. Offering turbochargers for a wider range of engine sizes and configurations is one way to do this. Additionally, turbochargers are being developed for alternative fuel vehicles such as electric and hydrogen-powered cars.

A select range of participants are making investments to create strategic alliances and partnerships with other businesses in the automobile sectors. Manufacturers, suppliers, and IT firms are a handful of these.

They want to create fresh and inventive products by utilizing their resources and experience. To increase their footprint, manufacturing organizations are putting even more of an emphasis on new product launches and acquisition tactics.

Leading Key Players:

Continental AG
Garett Motion Inc.
Cummins Inc.
Mitsubishi Heavy Industries Ltd.
Toyota Industries Corporation
Eaton Corporation Plc
BorgWarner Inc.
IHI Corporation
BMTS Technology GmbH & Co. KG
Weifang FuYuan Turbochargers Co., Ltd.

For instance,

Cummins Inc. was entirely bought Meritor, Inc. in 2022. The latter is a well-known manufacturer of drivetrain, mobility, brakes, aftermarket, and electrical powertrain solutions for commercial vehicles & industrial industries.
Toyota Motor Corp.’s Silicon Valley research branch acquired Renovo, a producer of automotive operating system software, in 2021. The company intends to speed the development of fully autonomous, networked vehicles.

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Automotive Turbocharger Market Segmentation:

By Product Type:

Waste Gate
VGT
Twin Turbo

By Vehicle Type:

Passenger Cars
LCV
HCV
Agricultural Machinery
Construction Machinery

By Fuel Type:

Gasoline
Diesel

By Sales Channel:

OEM
Aftermarket

By Actuator:

Hydraulic
Electric
Pneumatic

By Region:

North America
Latin America
Asia Pacific
Middle East & Africa
Europe

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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Automotive Cabin Air Quality Sensors Market to Grow USD 1,492.3 million by 2033, with a CAGR of 12.3% | FMI Reports

According to Future Market Insight, the global automotive cabin air quality sensors market is expected to reach USD 1,492.3 million by 2033, registering a CAGR of 12.3%. This marks a significant increase from its projected value of USD 467.8 million in 2023.

The trend of urbanization and improving economic conditions in emerging regions has led to an increased number of vehicles on the road. Unfortunately, this surge has also resulted in higher vehicular emissions, including harmful substances like hydrogen and carbon monoxide. These volatile organic compounds have significantly contributed to climate change, prompting regulatory agencies to enforce stricter measures.

Automotive manufacturers are increasingly focusing on enhancing passenger comfort and wellness, aiming to provide an exceptional driving experience. Cabin air quality sensors play a crucial role in detecting various pollutants, such as particulate matter, volatile organic compounds (VOCs), and carbon monoxide. These sensors enable the implementation of effective air filtration and purification systems, driving the demand for cabin air quality sensors.

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Advancements in sensor technology have made cabin air quality sensors more accessible for automotive applications. These advancements include miniaturization, improved sensitivity, and cost reduction, making sensors more practical for vehicle use. These technological strides have facilitated the seamless integration of sensors into HVAC systems, air purifiers, and other components, leading to widespread adoption in the automotive industry.

Consumers are becoming increasingly aware of the air quality they breathe, especially in enclosed spaces like vehicles. This heightened awareness has led to growing consumer demand for vehicles equipped with cabin air quality sensors. Individuals prioritize their health and well-being during daily commutes, and these sensors help address their concerns.

The regulatory landscape is also driving the adoption of cabin air quality sensors. Governments across various regions have imposed stringent emission standards to mitigate the harmful effects of polluted air. These regulations mandate the use of cabin air filters and the inclusion of air quality sensors in new vehicles. Consequently, automotive manufacturers are prioritizing the installation of cabin air quality sensors across different markets.

Key Takeaways from this Market:

The automotive cabin air quality sensors industry in the United Kingdom is anticipated to rise, exhibiting a CAGR of 10.4% through 2033.
The United States held a 21.6% share of the global automotive cabin air quality sensors industry in 2022.
With a CAGR of 13.5% over the forecast period, India is predicted to develop rapidly in the automotive cabin air quality sensors industry.
In 2022, Japan had an 8.5% share of the automotive cabin air quality sensors industry.
China’s automotive cabin air quality sensors industry is expected to flourish speedily, registering a CAGR of 14.0% over the forecast period.
Germany accounted for 7.9% of the global automotive cabin air quality sensors industry in 2022.

Competitive Landscape:

In the ever-evolving landscape of automotive cabin air quality sensors, leading players are ardently dedicated to pushing the boundaries of sensor technology. The goal is to enhance air quality inside vehicles. These players strive to improve sensor accuracy, durability, and sensitivity. Research and development efforts are underway to integrate real-time monitoring and air purification systems. Smart connectivity options are also being explored. Collaboration with automotive manufacturers is vital to ensure seamless sensor integration. Ultimately, the well-being and comfort of passengers remain paramount in these endeavors.

Key Players

Amphenol Corporation
Sensirion AG Switzerland
Paragon AG
Valeo
Sensata Technologies, Inc.
Honeywell International Inc.
ams AG
OMRON Corporation
Figaro Engineering Inc.
Prodrive Technologies
UST Umweltsensortechnik GmbH
Chemisense Inc
Others

Recent Developments:

In a significant breakthrough, Sensirion unveiled its latest development in June 2023. It has successfully integrated its cutting-edge air quality sensors with the prestigious RESET Air Standard. This remarkable integration serves a vital purpose by streamlining the accreditation procedure for indoor air quality monitors.

Figaro Engineering Inc. introduced the FECS series in May 2021. This groundbreaking series showcases three-electrode electrochemical gas sensors. Not only do these sensors exhibit extraordinary resilience to interference gases, but they also boast an innovative leak-proof design.

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Key Segmentation of the Market:

By Vehicle Type:

Passenger Cars
Commercial Vehicles

By Sales Channel Type:

OEM
Aftermarket

By Region:

North America
Latin America
Western Europe
Eastern Europe
East Asia and Pacific
Middle East and 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.

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