Market Research Blog – Page 1959 – New Product Development

Hyperbaric Oxygen Therapy Devices Market is Expected to Grow at a 7.0% CAGR and Double in Value to USD 6.86 Billion by 2033

The hyperbaric oxygen therapy devices market is poised for remarkable expansion, driven by advancements in wound healing, sports medicine, and the growing adoption of HBOT across various medical specialties. According to recent research, the market is projected to achieve a valuation of USD 3.47 billion in 2023. Furthermore, the overall demand for hyperbaric oxygen therapy devices is expected to grow at a steady compound annual growth rate (CAGR) of 7.0%, reaching a total valuation of approximately USD 6.86 billion by 2033.

Hyperbaric oxygen therapy has proven to be a vital treatment in various medical fields, particularly in enhancing wound healing and addressing sports-related injuries. The growing recognition of HBOT’s benefits in these areas is fueling its demand and widespread usage.

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Despite having a promising future, the hyperbaric oxygen therapy equipment market faces some challenges. One significant obstacle is the high initial cost of setting up hyperbaric chambers and related equipment. The high cost associated with hyperbaric oxygen therapy facilities limits their adoption, especially in underfunded healthcare facilities. Furthermore, the widespread use of hyperbaric oxygen therapy devices is hindered in some regions by stringent regulatory requirements and restrictive payment practices. These issues need to be fixed in order to ensure that a wider spectrum of patients can get therapy and to completely reap the benefits of HBOT.

Using cutting-edge digital technology is one of the biggest developments in the hyperbaric oxygen therapy device market. Hyperbaric chambers equipped with Internet of Things connectivity and remote monitoring features enable medical professionals to quickly modify treatment parameters and monitor patients’ progress. Artificial intelligence and machine learning are now being researched as ways to improve hyperbaric oxygen therapy’s accuracy and efficacy. Additionally, because of its ease of use and versatility, portable hyperbaric oxygen therapy equipment is increasingly being used for home-based treatments.

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Key Takeaways from the Hyperbaric Oxygen Therapy Devices Market:

The hyperbaric oxygen therapy devices industry in the United States holds a dominant market share of 32.5% in 2023.
Germany’s presence in the hyperbaric oxygen therapy devices market is notable, capturing a market share of 5.0% in 2023.
Japan shows promising growth potential in the hyperbaric oxygen therapy devices market, with a market share of 6.5% in 2023.
Australia is projected to witness a healthy Compound Annual Growth Rate (CAGR) of 5.4% during the forecast period, reflecting the country’s growing significance in the hyperbaric oxygen therapy devices industry.
China is expected to experience substantial expansion with an impressive CAGR of 8.3% during the forecast period, indicating the country’s rising demand for hyperbaric oxygen therapy devices.
India’s hyperbaric oxygen therapy devices market is set to grow at a significant CAGR of 7.8%, reflecting the country’s increasing adoption of these devices for medical treatments.
The United Kingdom is poised for robust growth with a CAGR of 8.9%, emphasizing the rising importance of hyperbaric oxygen therapy devices in the region.
Mono-place hyperbaric chambers dominate the market with a significant share of 37.3%.
Hospitals are the leading end users, accounting for a substantial share of 56.9% in the hyperbaric oxygen therapy devices market.

Key Companies Profiled:

ETC BioMedical Systems
Fink Engineering Pvt. Ltd.
Gulf Coast Hyperbarics Inc.
HAUX-LIFE-SUPPORT GmbH
Hearmec Co. Ltd.
Hyperbaric SAC
IHC Hytech B.V.
OxyHeal Health Group
Sechrist Industries, Inc.
SOS Medical Group, Ltd.

Key Segments Covered in the Hyperbaric Oxygen Therapy Devices Industry Analysis:

By Type of Products:

Mono-place HBOT Devices
Multi-place HBOT Devices
Topical HBOT Devices

By Application:

Wound Healing
Decompression Sickness
Infections
Gas Embolism
Others

By Region:

North America
Europe
Asia Pacific

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Automated CPR Devices Market is expected to reach USD 255.7 million by 2034 At a 5.4% CAGR

The automated CPR device market is poised for remarkable expansion, driven by advancements in emergency medical care, rising cardiovascular disease incidence, and the need for efficient resuscitation techniques. According to recent research, the market is projected to achieve a valuation of USD 150.6 million in 2024. Furthermore, global sales of automated CPR devices are slated to soar at a compound annual growth rate (CAGR) of 5.4%, reaching a value of USD 255.7 million by 2034.

With cardiovascular diseases (CVD) on the rise, there has been a significant increase in global deaths attributed to CVD, from 28.9% in 1990 to 36.3% in 2020. In 2020 alone, CVD accounted for 19.8 million deaths globally, highlighting the critical need for effective cardiovascular emergency care solutions like automated CPR devices.

Automated CPR devices play a pivotal role in delivering timely and effective cardiopulmonary resuscitation, improving survival rates and outcomes for cardiac arrest patients. The growing incidence of cardiovascular diseases and the emphasis on enhancing emergency response capabilities are driving the demand for advanced CPR technologies.

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The need for automated CPR equipment has increased dramatically as a result of technological developments and growing public awareness of the importance of precise and efficient CPR. Modern devices have intelligent algorithms that adapt to the specific characteristics of the patient’s chest, optimizing compression depth and pace to improve circulation. Furthermore, these devices often come with integrated feedback mechanisms that ensure appropriate CPR administration and support medical practitioners instantly.

The global healthcare systems are under increasing pressure due to the rising prevalence of heart attacks and sudden cardiac arrests. Automated CPR machines have become essential pieces of equipment in emergency rooms, hospitals, and ambulances because they can begin the resuscitation process quickly, providing the patient critical time.

Key Takeaways:

In the historical period, the market captured a valuation of US$ 99.02 million in 2022.

The United States is estimated to dominate the global market by capturing a huge global market share by 2033.

Based on end-user, ambulances are leading the global market by securing a maximum share during the forecast period.

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Competitive Landscape:

The automated CPR market is highly consolidated owing to the presence of regional and global market players. Key market players worldwide are employing inorganic market strategies to expand their global foothold.

Inorganic strategies include strategic mergers and acquisitions and allying with regional distributors to strengthen their supply chain channels. They are also emphasizing faster product approvals, product development, and patenting. New market entrants focus on new product launches to establish their market presence.

Other Key Players in the Global Market are:

SunLife Science Inc.
ZOLL Medical Corporation
Michigan Instruments
Physio Control Inc.
Brunswick Biomedical Technologies
Zhuhai Kindway Medical Science & Technology Co. Ltd
CPR Medical Devices Inc.
Medtronic Inc.

Recent Developments in the Global Market:

Michigan Instruments launched a hand-free automatic CPR device that is lightweight, portable, and helps smooth the transition from manual CPR to automated compressions.
ZOLL Medical Corporation introduced a new automated CPR devices system, ‘Autopulse,’ which assists EMS personnel in providing high-quality chest compressions in cramped spaces and steep down stairwells.
A new automated CPR device has been launched by Cintas, which assists healthcare professionals by providing real-time CPR feedback and monitoring, enhancing the survival rate of patients.

Automated CPR Devices Market by Category:

By Power Source:

Pneumatically Driven CPR Devices
Battery-driven CPR Devices
Mechanically Actuated And Battery-driven CPR Device

By Device Type:

Piston Devices
Load Distribution Devices
3D Compression Devices

By End User:

EMS
Hospitals
Ambulances
Coronary & Intensive Care Units
Cardiac Catheterization Labs
Air Med-Evac Units
EMT Rescue Units
Others

By Region:

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

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High Content Screening Market Forecast to Reach USD 3 Billion in 2032, with a 5.8% Compound Annual Growth Rate

The high content screening (HCS) market is poised for significant expansion, driven by advancements in drug discovery, biotechnology research, and personalized medicine. According to recent research, the market is projected to achieve a valuation of USD 1.6 billion in 2022. Furthermore, the demand for high content screening is expected to surge, with a projected compound annual growth rate (CAGR) of 5.8%.

High content screening (HCS) technologies provide precise cellular imaging and analysis that greatly improve research findings, making them indispensable for drug discovery and development. The need for HCS solutions is being driven by the growing requirement for reliable and efficient drug screening procedures in the biotechnology and pharmaceutical industries.

Leading companies in the industry are concentrating on technology advancements to raise the precision and effectiveness of high content screening systems as the market grows. This rising trajectory highlights how important HCS is to the advancement of medicinal advances and medical research.

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Finding and developing new drugs involves the use of high content screening. The increasing amount of research being done on target identification and validation, along with the ongoing quest for new drug candidates, is predicted to drive an acceleration in the adoption of high content screening over the next few years. Furthermore, it is projected that demand will rise over the course of the projection period as a result of a continued emphasis on manufacturing high-quality and technologically advanced cell imaging systems.

Nevertheless, the COVID-19 pandemic significantly impeded investigations and advancements. The market is anticipated to suffer as a result of this. However, it is anticipated that the market will grow in the upcoming years due to a rise in the amount of money major manufacturers are investing in the creation of cutting-edge cell imaging products.

Key Takeaways

The CAGR for the global market over the preceding period was 5.1%.
Over the coming decades, the market in India is anticipated to grow at a CAGR of 6.6%.
With more than 7.3% of all demand recorded in Europe in 2022, Germany has emerged as a major market.
Over the coming decade, the market in China is anticipated to grow at a CAGR of 7.8%.
The highest demand for High Content Screenings came from the pharmaceutical and healthcare industries.

“The rising prevalence of multiple infectious diseases with a variety of symptoms raises the demand for innovative treatments. As a result, there will be an increase in biotechnology and pharmaceutical study and development efforts to identify new drug candidates. Imaging technologies are becoming increasingly important in drug discovery and analysis.” says an FMI analyst.

Competitive Landscape:

Key players in the HCS market employ strategies such as mergers and acquisitions, product launches, collaborations, and alliances to expand their businesses.

Particle Works, a progressive company that creates and markets cutting-edge particle engineering platforms, declared the release of the Automated Library Synthesis (ALiS) System, a new ground-breaking platform, in November 2022. This innovative platform favors automation in the early stages of the creation of drugs as well as high-throughput evaluation of lipid nanoparticle (LNP) formulations and mRNA candidates.
The Twist High Throughput Antibody Production platform, developed by California-based Twist Bioscience Corporation, was made public in April 2022. It allows customers to convert candidate genetic sequences into cleansed antibodies for use in a variety of applications related to screening and therapeutic discovery projects.

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Key Companies Profiled:

Thermo Fisher Scientific Inc.
Becton Dickinson, and Company
GE Healthcare
Olympus Corporation
PerkinElmer Inc.
Sysmex Corporation
Merck KGaA
Danaher Corporation
Yokogawa Electric Corporation
BioTek Instruments Inc.

Key Segments Profiled in the High Content Screening Industry Survey:

Product Type:

Cell Imaging & Analysis
- HCS Instruments
  - High-End HCS
  - Mid End HCS
  - Low-End HCS
- Flow Cytometers
Consumables
- Microplates
- Reagents & Assay Kits
- Other Consumables
Software
Services

Industry:

Pharmaceutical & Healthcare
Biotechnology
Educational Institutions
Independent CRO
Government Organizations
Others

Application:

Primary & Secondary Screening
Target Identification & Validation
Toxicity Studies
Compound Profiling
Others

Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

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Global Paper Bottles Market Set to Reach US$115.6 Million by 2033, Driven by Sustainability and Innovation

The global paper bottles market is poised for substantial growth, projected to increase from a valuation of US$67.7 million in 2023 to US$115.6 million by 2033. This growth trajectory, characterized by a robust compound annual growth rate (CAGR) of 5.5%, underscores the rising adoption of sustainable packaging solutions across various industries.

Core Concepts in the Paper Bottles Industry

US Market Growth: The demand in the United States is driven by efforts to reduce carbon footprints, influencing market growth significantly.
Paper Bottles in Europe: Increasing awareness of environmental impacts in Europe has led to a surge in sales of paper bottles.
Global Adoption Drivers: The need for non-hazardous packaging solutions is a primary driver behind the worldwide adoption of paper bottles.
US Market Contribution: In 2022, the United States contributed a CAGR of 4.3% to the global market.
Lucrative Growth Region: North America is expected to present lucrative growth opportunities through 2033, particularly in the paper bottle market.

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Key Market Dynamics:

Sustainability Driving Market Expansion: Paper bottles are gaining traction due to their eco-friendly credentials, utilizing recyclable materials such as wood pulp and paperboard in their manufacturing process. The demand is bolstered by increasing consumer preference for sustainable packaging options, driving adoption in industries like beverages, personal care, and cosmetics.
Innovative Packaging Solutions: Manufacturers are innovating with paper bottles, incorporating features such as matte finishes, bold designs, and customizable options in terms of colors, shapes, and sizes. This customization enhances brand visibility and appeal, attracting major beverage companies seeking to elevate their brand value through sustainable packaging solutions.
Government Regulations and Consumer Preferences: Stringent regulations aimed at reducing plastic consumption and promoting biodegradable packaging are creating significant growth opportunities for paper bottle manufacturers. Consumer preferences are increasingly favoring reusable and recyclable options, further propelling the market’s expansion.

Market Challenges:

Despite its promising growth outlook, the paper bottles market faced challenges during the COVID-19 pandemic, with disruptions in supply chains, logistics, and transportation impacting market dynamics. However, as economies recover and consumer confidence rebounds, the market is expected to regain momentum, supported by a renewed focus on sustainable practices and packaging solutions.

Future Outlook:

The paper bottles market is poised to create an incremental opportunity of $44 million from 2023 to 2033, expanding 1.7 times its current market value. Continued advancements in research and development are expected to further enhance the durability, adaptability, and appeal of paper bottles, driving their adoption across a wider range of applications.

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Competitive Landscape:

Most of the key players operating in the paper bottle market are switching toward the usage of advanced packaging. Further, leading players similarly utilize new product development as an essential method for growing their market presence among customers.

Recent Developments in the Market:

In March 2022, PAPACKS Sales GmbH partnered with Keurig Dr. Pepper Inc. to develop a fully recyclable and compostable paper bottle.
In June 2021, Unilever launched its first-ever paper-based laundry detergent bottle.
The Absolut Company (TAC) announced on September 4, 2020, that as part of the paper bottle company effort, they might be releasing 2,000 paper bottle prototypes. The prototype is made up of 57 percent paper and 43 percent recyclable plastic which is also produced entirely of recycled materials.
Johnnie Walker Scotch Whisky started coming in paper-based bottles on August 5th, 2020. According to Diageo, the multinational beverage and alcoholic firm that owns the trademark, Johnnie Walker, the bottle is 100 percent plastic-free and made entirely from sustainably sourced wood.

Leading Players:

Frugalpac
Unilever plc
Paper Water Bottle
Kagzi Bottles
O.Berk Company, LLC
Just Water
Paper Bottle Company
PAPACKS Sales GmbH
LYS Packaging
Choose Packaging
Pulp Packaging International
Pulpex Ltd.
Shruti Agro
3Epack Group

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Key Segments

By Capacity:

15 ml to 100 ml (Small)
101 ml to 500 ml (Medium)
Above 500 ml (Large)

By Primary Usage:

Everyday
Sports
Others (Travel, etc.)

By End Use:

Water
Beverage
Alcoholic
Non-alcoholic
Personal Care &Cosmetics
Others (Homecare & Toiletries, etc.)

By Region:

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific Excluding Japan (APEJ)
Japan
The Middle East & Africa (MEA)

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

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Global Industrial Power Supply Market Revenue Share Forecasted to Reach USD 21.5 Billion by 2034, Driven by an Impressive 10.1% CAGR Growth

The industrial power supply market is estimated to be worth USD 8.2 billion in 2024 and is projected to be valued at USD 21.5 billion in 2034. Between 2024 and 2034, the industry is poised to rise at a CAGR of 10.1%. The growing integration of industrial automation and the implementation of Industry 4.0 initiatives are contributing to a heightened demand for dependable and efficient power supplies. This demand stems from the necessity of providing stable and accurate power delivery to automation systems, encompassing PLCs, robotics, and control systems.

The increasing recognition of the importance of energy conservation and sustainability in industrial settings is fostering a preference for energy-efficient power supplies. Businesses are actively seeking power solutions that not only optimize energy consumption but also contribute to reducing overall operational costs. Global economic growth and the expansion of manufacturing and industrial infrastructure contribute to increased demand for power supplies. As industries expand, there is a need for reliable and scalable power solutions to support new facilities and equipment.

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Continuous technological progress, marked by enhancements in power electronics, digital control, and the integration of intelligent features, propels the evolution of highly efficient and advanced industrial power supplies. To remain competitive in this dynamic market, companies are dedicating resources to research and development initiatives.

Key Takeaways from the Market Study:

From 2019 to 2023, the industrial power supply market expanded at a CAGR of 13.2%.
Based on the product types, the AC-DC converters segment is expected to rise at a CAGR of 9.8% from 2024 to 2034.
The industrial power supply demand in China is predicted to grow at a CAGR of 9.2% through 2034.
In the United States, the industrial power supply industry is estimated to register a CAGR of 10.4% from 2024 to 2034.
The United Kingdom is projected to expand by a value CAGR of 10.8% between 2024 and 2034.
The industrial power supply market in Japan is anticipated to record a CAGR of 11.5% during 2034.

“The industrial power supply market is experiencing momentum driven by the growth of manufacturing and industrial infrastructure, coupled with a rising demand for energy-efficient solutions in industrial settings.” says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.).

Competitive Landscape:

The industrial power supply market players are forming strategic partnerships with other industry players, technology providers, or manufacturers to enhance product portfolios or expand market reach and collaborating with key stakeholders in the supply chain to ensure a seamless and reliable power supply ecosystem.

Leading Manufactures in Industrial Power Supply Market:

TDK Lambda
Delta Electronics
XP Power
Siemens
Murata Power Solutions
Advanced Energy
Bel Fuse
Cosel
MEAN WELL

Recent Developments in Industrial Power Supply Industry:

TDK Lambda – a leading global manufacturer of power supplies, TDK Lambda specializes in providing innovative and reliable solutions for various industrial applications.
Delta Electronics – is a multinational company known for its power and thermal management solutions, offering a wide range of industrial power supply products.
XP Power – is a well-established provider of power solutions, delivering high-quality and efficient power supplies for industrial applications, including medical, technology, and industrial sectors.

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Industrial Power Supply Market Segmentation Analysis:

By Product Types:

AC-DC Converters
DC-DC Converters

By Output Power:

Very Low Output (Up to 500W)
Low Output (500W-1,000W)
Medium Output (1,000W-10 kW)
High Output (10-75kW)
Very High Output (75-150kW)

By Vertical:

Transportation
Semiconductor
Military & Aerospace
Robotics
Test & Measurement
Battery Charging & Test
Industrial 3D Printing
Laser
Lighting

By Region:

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

Author:

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

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

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

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FMI Study Affirms Global Turboexpander Market Anticipated to Reach USD 2 Billion Milestone by 2034, Growing Steadily at 5.4% CAGR

According to Future Market Insights’ latest industry analysis, the global turboexpanders market size is estimated to be around USD 1.2 billion in 2024. It is projected to exhibit a CAGR growth of 5.40% over the forecast period, with an estimated market size of USD 2 billion by 2034.

The market for turboexpanders has been witnessing significant growth in recent years due to the increased demand for efficient natural gas processing plants, where they play a crucial role in gas processing and liquefaction. Industries are also placing a rising emphasis on optimizing energy usage and minimizing waste, with turboexpanders being used to harness the energy from high-pressure gas streams and convert it into mechanical power or electricity.

The surging demand for cryogenic applications in industries such as healthcare, food processing, and electronics is another factor driving the growth of the turboexpander market. Ongoing advancements in turboexpander design and manufacturing are leading to significant improvements in efficiency, reliability, and performance. This is also contributing to the widespread adoption of turboexpanders across various industries.

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The oil and gas sector is increasingly adopting turboexpanders, especially companies involved in natural gas processing plants, LNG facilities, and oil refineries for gas processing, gas liquefaction, and hydrocarbon recovery processes. The sales of turboexpanders are also growing among chemical plants, where companies use them for cryogenic applications such as the separation and purification of gases, as well as for energy recovery from high-pressure gas streams.

“Companies in the turboexpander market must explore opportunities to expand their presence in both established and emerging markets. They can also establish partnerships, open new service centers, or acquire local businesses to better serve customers worldwide,” says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.).

Key Takeaways from the Market Study:

The axial flow segment is poised to dominate the turboexpander industry with a market CAGR of 5.10%.
Based on the loading device, the compressors segment is set to lead the turboexpander industry with a CAGR of 4.80%.
The turboexpander industry in the United Kingdom is anticipated to develop at a modest CAGR of 6.90% through 2034.
The turboexpander market in China is estimated to rise at a CAGR of 6.40% through 2034.
The turboexpander industry in Japan has the potential to increase at a CAGR of 4.00% through 2034.
The United States turboexpander industry is predicted to rise by a CAGR of 5.80% through 2034.
The turboexpander industry in South Korea is very likely to develop at a CAGR of 7.40% through 2034.

Competitive Landscape of the Turboexpander Market:

Turboexpander technology has been gaining popularity in recent years due to its numerous benefits, including energy savings, reduced carbon footprint, and improved production efficiency. The market has a wide range of companies that cater to both international and domestic consumers. Prominent players such as Atlas Copco, Cryostar, Air Products and Chemicals, Inc., Baker Hughes, and General Electric invest heavily in research and development to enhance their products’ efficiency, functionality, and sustainability. These companies often receive grants and subsidies from the government to promote the adoption of turboexpander technology in various industries.

Key Companies in the Market:

Atlas Copco
Cryostar
Air Products and Chemicals, Inc.
Baker Hughes
General Electric
Siemens
Elliott Group
Turbogaz
L.A. Turbine
Kobelco
Hangyang
ACD
Cryoquip
Cryodynamics
GE Oil & Gas
Sulzer
R&D Dynamics Corporation
Howden
Toshiba
Voith Turbo

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Recent Developments in the Turboexpander Market:

Breaking the West’s monopoly, Iranian experts and technicians at Shazand Petrochemical Company in Markazi Province domestically designed and produced a turboexpander in May 2023. This achievement, announced by Iran’s Ministry of Petroleum’s Shana news agency, involved collaboration with a local knowledge-based firm, offering significant cost savings.
Partnering with Tallgrass and Evolve Energy, Sapphire Technologies shipped its largest batch of turboexpanders yet in June 2023. The delivery of four turboexpanders marked the beginning of a significant milestone, with plans for a 400% production increase by year-end.
In August 2023, Nikkiso Clean Energy & Industrial Gases Group’s Cryogenic Service unit, Nikkiso Cryogenic Services (NCS), expanded local support for Nikkiso products like ACD cryogenic pumps and turboexpanders in Brazil by partnering with Neuman & Esser (NEA) Brasil. The aim was to streamline repairs and enhance customer service.

Turboexpander Market by Segmentation:

By Product Type:

Axial Flow
Radial Flow

By Loading Device:

Compressor
Generator
Hydraulic/Oil-brake

By Power Capacity:

Less than 1 MW
1MW – 4 MW
5MW – 9MW
10MW – 19MW
20MW – 24 MW
25 MW – 40 MW
Above 40 MW

By Application:

Air Separation
Oil & Gas Processing
Cryogenic Application
Others

By End Use:

Oil & Gas
Energy & Power
Chemical & Petrochemicals
Others

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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Global Protective Glove Market Share Forecasted to Reach USD 40.6 Billion Revenue by 2034, Driven by 6.7% CAGR Growth | FMI Analysis

The global protective glove market size is poised for significant growth, reaching USD 21.2 billion in 2024. The sales of protective gloves are expected to grow at a CAGR of 6.7% from 2024 to 2034. The demand for protective gloves is anticipated to reach a valuation of USD 40.6 billion by 2034.

The primary catalysts advancing the growth of the disposable glove market include the expanding healthcare industry, increased accidents and injuries, a growing awareness of job hazards, and occupational safety and health laws.

Forces Steering Growth in the Protective Glove Market:

The adoption of protective gloves has increased across several industries, including manufacturing, chemical processing, construction, and healthcare, due to growing awareness of the significance of workplace safety and employee well-being.
Employers are required by strict government and industry-imposed workplace safety standards and regulations to supply the necessary personal protective equipment (PPE), including gloves, to shield employees from potential risks. The demand for protective gloves is fostered by adherence to such regulations.

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Growth Avenues in the Protective Glove Industry:

For the safety of medical personnel and to prevent the spread of infections, protective gloves are necessary in the healthcare industry, which includes clinics, hospitals, and labs. Manufacturers of protective gloves stand to benefit greatly from the continued need for healthcare services.
Protective gloves are necessary to protect employees from workplace hazards in various industries, including manufacturing, construction, automotive, and chemical processing. The demand for specialized, high-quality gloves is rising as industrial activities continue to expand.

“Growing workplace safety awareness is expected to propel significant expansion in the protective glove market. The increasing focus on employee well-being is reflected in the rising demand across various industries, which fosters expansion in the safety glove market and drives technological innovation,” opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI)

Key Takeaways:

The nitrile segment in the material category is expected to accelerate at a CAGR of 6.6% between 2024 and 2034.
In the type category, the reusable segment is predicted to thrive at a CAGR of 6.5% through 2034.
The United States safety glove market is anticipated to evolve at a CAGR of 6.9% through 2034.
The United Kingdom protective glove market is envisioned to develop at a CAGR of 7.7% from 2024 to 2034.
China’s safety glove market is expected to surge at a CAGR of 7.2% through 2034.
The South Korean protective glove market is anticipated to grow at a CAGR of 8.0% between 2024 and 2034.
The Japan disposable glove market is likely to exhibit a CAGR of 7.4% through 2034.

Competitive Landscape:

Protective glove market players are planning ahead to boost their sales in profitable regions and are implementing a range of penetration techniques. Some strategies in the safety glove market include product launches, alliances, acquisitions, partnerships, and the attraction of local and international distribution networks.

Top Players in the Protective Glove Market:

Kossan Rubber Industries Bhd
Top Glove Corporation Berhad
Ansell group
TOWA CORPORATION
Hartalega Holdings Berhad

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Notable Developments:

GIIB Holdings Bhd announced in May 2022 that its first glove production facility had opened. The company disclosed that the new manufacturing facility, established by its subsidiary GIIB Healthcare Products Sdn Bhd with a 51% ownership stake, features five double former glove-dipping production lines capable of producing 1.05 billion units annually.
Kimberly-Clark Professional disclosed that Kimtech Opal Nitrile Gloves were introduced in January 2022. According to the company, the newly introduced industrial gloves were designed for strong tactile sensitivity and enhanced comfort during extended wear. The gloves are marketed to have a unique skin-protection feature called Low Derma Technology.

Key Segments Covered in Report:

By Material:

Nitrile
Latex
Neoprene
Leather
Vinyl
Others

By Type:

Reusable
Disposable

By Application:

Chemical
Mechanical
Biological
Thermal
Others

By End-use Industry:

Healthcare
Manufacturing
Food & Beverage
Oil & Gas
Construction
Transportation
Others

By Region:

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

Author:

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

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Global Power Plant Boiler Market Valuation to Drive Past USD 40 Billion Milestone by 2034, Surging Steadily at 5.80% CAGR Growth

The global power plant boiler market value is expected to rise from USD 22.7 Billion in 2024 to USD 40 Billion by 2034. This estimated growth is expected to be driven by a promising CAGR of 5.80% in the power plant boiler industry over the next decade.

Governments around the world are investing in upgrading their present power plants. This, along with the increasing construction of new power plants, is raising the demand for power plant boilers. Furthermore, advancements in technology, such as the advent of supercritical boilers, are positively impacting the power plant boiler market.

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Increasing projects to raise power capacity is augmenting the investments in power plant boilers. Additionally, upgrades in terms of efficiency and reductions in carbon emissions are driving innovations in the market. Rising investment projects in the industrial world also offer adequate business growth opportunities.

Key Takeaways from the Power Plant Boiler Market Report:

In 2023, the power plant boiler market attained a valuation of USD 21.3 Billion by exhibiting a CAGR of 7.5% from 2019 to 2023.
By technology, the subcritical segment is anticipated to record a CAGR of 5.5% over the forecast period.
Based on fuel type, coal segment is projected to record a 5.3% CAGR through 2034.
The United States holds a massive share in the power plant boiler market. By 2034, the country’s market is estimated to acquire USD 7.2 Billion, expanding at a 6.1% CAGR.
China ranks second in terms of market value. By 2034, this market is projected to attain USD 6.7 Billion. China is also anticipated to experience a slightly higher 6.8% CAGR.

“Players are focusing on bringing advancements in their boiler production and boiler design to meet the evolving user demands,” – opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).

Market Strategies Employed by Players to Get Ahead in the Power Plant Boiler Market:

The power plant boiler market is fairly competitive. Key players are exploring opportunities in niche markets, such as small-scale modular reactors, combined heat and power (CHP) systems, and industrial applications for steam generation. Further, players are providing comprehensive lifecycle management solutions to attract end users. By developing strong after-sales support, the market players can increase their sales.

Industry players further enhance their reach by joining partnerships and participating in exhibitions and industry events. Companies are also prioritizing technologies that comply with stricter environmental regulations and reduce emissions. Additionally, players can build goodwill and brand reputation by engaging in corporate social responsibility initiatives.

Key Companies in the Power Plant Boiler Market:

General Electric
Babcock & Wilcox Enterprise
Mitsubishi Hitachi Power Systems
Siemens AG
Doosan Heavy Industries & Construction
Dongfang Electric Corporation
IHI Corporation
Andritz Group
John Wood Group
Bharat Heavy Electrical Limited
Thermax
Sumitomo Heavy Industries
Others

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New Developments in the Power Plant Boiler Market:

In October 2023, Babcock & Wilcox Enterprises, Inc. announced that its Canadian subsidiary, Babcock & Wilcox Canada Corp., has signed a multi-year maintenance contract with Newfoundland and Labrador Hydro to develop the Holyrood Thermal Generating Station in Newfoundland. The deal is worth USD 11 Million and enables consumers to take on more work.
In October 2023, Renova Inc., a Japanese renewable power producer, postponed the commercial operation of two biomass-fired power stations with a combined capacity of 150 MW. The 74.8-MW Tokushima Tsuda and 75-MW Ishinomaki Hibarino plants went online later in October and December 2023. The business attributed the delay in launch on final changes to turbine and boiler facilities.

Power Plant Boiler Market Segmentation Analysis:

By Technology:

Subcritical
Supercritical
Ultra-supercritical

By Fuel Type:

Coal
Nuclear
Gas
Oil

By Capacity:

Below 400 MW
400-800 MW
Above 800 MW

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 Study Affirms Global Barrier System Market Estimated to Reach USD 34 billion by 2034, Driven by 4.3% CAGR Growth

The barrier system market is anticipated to be valued at USD 22.2 billion by 2024. The market valuation is estimated to be USD 34 billion by 2034, projected at a CAGR of 4.3%. The barrier system market encompasses various products and solutions that provide safety, security, and control in various environments. Barrier systems are utilized across diverse sectors, including transportation, industrial, commercial, and public spaces, to regulate access, manage traffic, enhance security, and ensure safety.

In transportation, barrier systems are critical in controlling traffic flow, guiding vehicles, and preventing accidents on roads, highways, bridges, and tunnels. They are employed in toll booths, parking lots, and vehicle checkpoints to facilitate orderly movement and manage congestion. Additionally, barrier systems are essential in railway stations, airports, and seaports to regulate passenger flow, protect infrastructure, and enhance security.

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Within industrial settings, barrier systems are deployed to safeguard workers, machinery, and materials in manufacturing plants, warehouses, and construction sites. They are physical barriers to prevent unauthorized access to hazardous areas, control pedestrian and vehicular traffic, and mitigate the risk of accidents and injuries. Industrial barrier systems include guardrails, safety barriers, bollards, and fencing solutions tailored to specific operational requirements.

In commercial properties such as retail stores, malls, and office buildings, barrier systems are utilized for crowd control, queue management, and theft prevention. Entrance gates, turnstiles, retractable barriers, and electronic access control systems help maintain order, ensure customer safety, and protect assets.

Public spaces such as parks, stadiums, and event venues rely on barrier systems to manage crowds, delineate boundaries, and enhance security during large gatherings and events. Temporary barriers, crowd control barriers, and barricades are deployed to channel foot traffic, create secure perimeters, and prevent unauthorized access to restricted areas.

Key Takeaways from the Market Study:

Under material type, the metals are registered to expand at 4.1% CAGR by 2034.
The United Kingdom is estimated to register at a CAGR of 5.5% by 2034.
China experiences significant growth, projected at a CAGR of 4.9% by 2034.
Based on application, the roadways segment is anticipated to expand at 3.8% CAGR by 2034.

“The increasing concerns regarding safety and security across various industries and environments is one significant driver for the barrier system market,”- says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)

Competitive Landscape:

In the competitive landscape of the barrier system market, several key players vie for market share, including established manufacturers, emerging startups, and regional suppliers. Competition revolves around product innovation, pricing strategies, distribution networks, and customer service.

Market leaders focus on expanding their product portfolios, strengthening brand presence, and forging strategic partnerships to gain a competitive edge in the industry. Some of the key developments are:

In January 2021, Betafence revealed its collaboration with Master Halco, a prominent wholesale distributor specializing in fence security solutions. This partnership designates Master Halco as the exclusive supplier of Betafence’s elite Prism 3-D welded wire products in North America.
In October 2022, Tata Steel Ltd. partnered with WMG, University of Warwick, to focus on developing new environmentally friendly steel grades that can be used for several applications.

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Key Players:

Gramm Barriers Systems Limited
Valmont Structures Pvt Ltd
Lindsay Corporation
Avon Barriers Corporation Limited
Barrier 1 Systems
Hill & Smith Ltd
Deltabloc International GmbH
Global Grab Technologies Inc
Tata Steel Group
Bekaert

More Valuable Insights Available:

Future Market Insights offers an unbiased global barrier system market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034.

To understand market opportunities, the barrier system market is segmented based on Material (Metal, Non-metal), Application (Roadways, Airports, Railways, Others), Device type (Fences, Bollards, Gate, Crash barrier systems, Drop arms), Technology (Rigid, Semi-rigid, Flexible), and Region (North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East and Africa).

Barrier System Market – Key Segments:

By Material:

Metal
Non-metal

By Application:

Roadways
Airports
Railways
Others

By Device Type:

Fences
Bollards
Gate
Crash Barrier Systems
Drop arms

By Technology:

Rigid
Semi-rigid
Flexible

Author:

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

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Global Power Grid Market Valuation Aims to Reach USD 471 Billion Milestone by 2034, Growing Steadily at 4.6% CAGR Growth

The global power grid market size is poised for significant growth, reaching USD 300 Billion in 2024. Sales of power grids are expected to witness a robust CAGR of 4.6% from 2024 to 2034. By 2034, the demand for power grids is anticipated to reach a valuation of USD 471 Billion.

Driven by advancements in renewable energy technology, the goal of reducing transmission and distribution losses, and increasing energy efficiency, the power grid market is witnessing a trend toward decentralized power generation.

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Due to urbanization and industrialization, many industries, including manufacturing, healthcare, and data centers, are experiencing increased demand for a consistent and effective power supply. The power grid market is expanding due to the increased need for reliable infrastructure.

High transmission losses and reliance on specific energy sources like coal, natural gas, and others are expected to inhibit the growth of the power grid system market. Due to this dependence, the power grid is susceptible to changes in energy policy, fuel supply disruptions, and pricing variations.

Regional Outlook:

Government initiatives and growing environmental concerns are promoting the Asia Pacific region’s shift toward renewable energy sources. The demand for power grids in Asia Pacific is stimulated by the region’s rapid industrialization and urbanization, especially in developing economies like China and India.

To assist in the energy transition, Europe’s top priority is investing in power grid modernization projects, such as installing advanced grid management systems and extending interconnectors. The electric grid market landscape in North America is evolving due to the shift to renewable energy sources and the expansion of distributed energy sources, which mandate grid modernization and agility.

Key Takeaways:

The South Korea power grid market is anticipated to boom with a CAGR of 6.4% between 2024 and 2034.
China’s power grid system market is expected to surge with a CAGR of 6.1% through 2034.
The United Kingdom power grid market is predicted to thrive with a CAGR of 5.5% from 2024 to 2034.
Sales of power grids in the United States are projected to evolve with a CAGR of 5.0% through 2034.
Japan’s power grid market is likely to exhibit a CAGR of 3.7% through 2034.
The cables segment in the component category in the power grid industry is anticipated to develop with a CAGR of 4.4% through 2034.
In the power source category, the conventional power segment in the power grid market is envisioned to exhibit a CAGR of 4.1% from 2024 to 2034.

“Growing energy consumption and investments in grid modernization are expected to propel the power grid industry upward. The increasing adoption of smart grid technologies and renewable energy sources is a catalyst, generating opportunities for innovation and infrastructure advancement,” – opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).

Competitive Landscape:

The power grid market is characterized by fierce competition between major players, fueled by the shift to renewable energy sources and the rise in global energy consumption. Well-established power grid manufacturers compete for market share through joint ventures, technology breakthroughs, and international expansion. Traditional players face challenges from emerging power grid vendors frequently using novel solutions.

Government programs and regulatory frameworks are crucial in determining how the power grid system market is shaped. The emphasis on sustainability, dependability, and grid modernization fuels competitiveness as power grid providers compete to provide all-inclusive solutions. The electric grid market dynamism reflects the changing energy landscape and the necessity of effectively meeting the growing electricity demand.

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Key Players Operating in the Industry:

ABB
General Electric
Schneider Electric
Mitsubishi Electric
Siemens
Hitachi Energy
Eaton
Havells
Hubbell
Fuji Electric
Sumitomo Electric

Latest Developments:

GE Renewable Energy introduced HYpact switchgear in November 2022. It has various uses, including onshore wind substations and mobile (truck-mounted) substations. Lowering operational expenses and the customer’s environmental impact improves the electrical grid’s predictability.
Hitachi Energy and Schneider Electric announced a non-exclusive partnership in June 2022 to accelerate the energy transition and provide better value to customers. Hitachi benefits from Schneider Electric’s medium-voltage portfolio, and Schneider Electric is likely to utilize Hitachi’s high-voltage portfolio.

Global Power Grid Market Segmentation Analysis:

By Component:

Cables
Variables Speed drives
Transformers
Switchgear
Others

By Power Source:

Conventional Power
Renewable Power
Nuclear Power
Hybrid Power

By Application:

Generation
Transmission
Distribution

By Region:

North America
Latin America
Asia Pacific
Europe
Middle East and Asia

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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