Market Research Blog – Page 2134 – New Product Development

Pressure Reducing Valves Market Poised to Surpass USD 3,746.9 Million by 2033, Anticipating a Robust 4.7% CAGR

The Pressure Reducing Valves Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the Pressure Reducing Valves market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for Pressure Reducing Valves. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2033. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.

In the prospective year of 2033, a comprehensive analysis by Future Market Insights (FMI) indicates promising prospects for the global Pressure Reducing Valves Market, poised to attain a substantial valuation of approximately USD 3746.9 Million. Projections suggest a robust Compound Annual Growth Rate (CAGR) of 4.7% over the forecast period.

This noteworthy growth trajectory is chiefly attributed to the escalating adoption of pressure-reducing valves within the industrial sector. These valves have garnered significant attention due to their exceptional capacity to regulate and sustain consistent flow rates, consequently leading to diminished energy consumption. Consequently, they have emerged as indispensable assets for industries striving to curtail their carbon footprint and comply with stringent environmental regulations, thereby aligning with the global thrust towards sustainability.

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The increasing global emphasis on energy efficiency and environmental sustainability has driven a heightened demand for pressure-reducing valves. These valves play a crucial role in optimizing energy usage and aligning with the sustainability goals of industries and organizations worldwide. Their significance in the industrial landscape is further underscored by this convergence of factors.

Furthermore, the demand for pressure-reducing valves extends beyond industrial applications to include residential and commercial sectors. This broader scope is expected to contribute significantly to sales figures well into the foreseeable future, supporting the market’s sustained growth trajectory.

Pressure-reducing valves are essential for effectively managing water pressure and protecting plumbing systems from potential damage caused by excessive pressure. Installed on the primary water supply line, these valves regulate water pressure throughout buildings, ensuring the optimal functionality of fixtures and appliances.

In summary, the global Pressure Reducing Valves Market is poised for continued growth due to its multifaceted utility and alignment with critical global imperatives for efficiency and sustainability.

Key Takeaways:

Global demand for pressure reducing valves is likely to rise at 4.7% CAGR through 2033.
By material type, stainless steel segment is expected to reach a valuation of USD 1,666.6 Million by 2033.
Based on end use, industrial segment is anticipated to account for around 82.4% of the global market in 2023
By operating pressure, 50 to 200 Psig segment is estimated to hold about 49.3% market share in 2023.
The United States pressure reducing valves market size is forecast to reach USD 507.6 Million by 2033.
Pressure reducing valve sales in China is likely to soar at 3.9% CAGR through 2033.
South Korea market is poised to exhibit a CAGR of 5.1% CAGR from 2023 to 2033.

‘Changing end user requirements has created high demand for advanced, energy-efficient, and sustainable systems. As a result, key manufacturers are aiming at developing novel products integrated with smart technologies. Several start-up companies are also entering into the market making it highly competitive,’ says an analyst at Future Market Insights (FMI).

Who is Winning?

Emerson Electric Co., Parker Hannifin Corporation, Watts Water Technologies, Xylem Inc., and Honeywell International are the top manufacturers of pressure reducing valves profiled in the report.

These companies are focusing on developing innovative and technologically advanced solutions to meet end user demand. They are also using strategies such as partnerships, alliances, mergers, and acquisitions to expand their presence.

Recent Developments:

In 2022, Zurn Industries, LLC introduced a new compact and lightweight pressure reducing valve (Zurn Wilkins 500XL3).
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The research report analyzes the market demand trends for pressure-reducing valves. The global market estimation and growth projection are based on factors such as end-use industries development, COVID-19 crisis impact, replacement ratio, and adoption rate of pressure-reducing valves.

As per Future Market Insights’ research scope, the pressure-reducing valves market has been studied and segmented on the basis of product, material type, operating pressure, application, and end-use. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, the supply side and demand side.

Market Segmentation:

By Product Type:

Direct Acting
Residential
Commercial
Industrial
Pilot Operating

By Material Type:

Cast Steel
Stainless Steel
Carbon Steel
Cast Iron
Ductile Iron
Bronze
Plastics
Others

By Operating Pressure:

50 to 200 Psig
201 to 500 Psig
501 to 800 Psig
Above 800 Psig

By Application:

Gas
Steam
Liquid

By End Use:

Residential
Commercial
Industrial
Power Generation
Pharmaceuticals
Pulp and Paper
Chemicals
Food and Beverages
Oil and Gas
Others

By Region:

North America
Latin America
Western Europe
Eastern Europe
Russia & Belarus
Balkan & Baltics

Central Asia

East Asia
South Asia Pacific
Middle East Africa
Others

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.

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Process Liquid Analyzers Market Analysis: Expected 5.5% CAGR Growth by 2033, Projected to Reach USD 4,888.5 Million

The Process Liquid Analyzers Market report, released by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—offers invaluable insights and a meticulous analysis of the Process Liquid Analyzers market. This comprehensive report delves into the core of the research, thoroughly examining the driving factors, market size, and predictive data for Process Liquid Analyzers. It provides detailed revenue and shipment segmentations, along with a ten-year projection extending to 2033. Furthermore, the document assesses key industry players, their market distribution, the competitive landscape, and regional perspectives.

According to an analysis conducted by FMI, the global market for process liquid analyzers is expected to exhibit a robust Compound Annual Growth Rate (CAGR) of 5.5% over the projected period. The market is anticipated to witness a substantial increase in size, with an estimated growth from USD 2,861.9 million in 2023 to a significant USD 4,888.5 million by 2033.

Process liquid analyzers find applications across various sectors, including the food and beverage industry, semiconductors and electronics, as well as metals and alloys, among others. Their adaptability and extensive utility contribute to a consistently high demand for these analyzers on a global scale.

The market’s growth trajectory is primarily driven by the increasing necessity to meticulously monitor and evaluate crucial liquid streams, ensuring the integrity and quality of industrial processes. These analyzers enable continuous monitoring of liquid streams, empowering users to enhance process efficiency and overall productivity. Furthermore, their pivotal role in strengthening processes and equipment against unforeseen and economically burdensome shutdowns acts as a significant driver for market expansion.

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In recent years, there has been a notable increase in the adoption of liquid process analyzers, driven by robust industrialization trends. Major conglomerates have strategically acquired specialized niche market players to enhance their product portfolios, reflecting a prominent industry trend. Concurrently, the utilization of integrated and intelligent sensors is gaining traction, especially in advanced economies, indicating a prevailing market trend expected to endure over the forecast period.

The flourishing oil and gas sector plays a pivotal role in driving market growth. Furthermore, there is a significant demand for advanced wastewater treatment plants due to the heightened presence of particles, salts, and hazardous chemicals in industrial wastewater, posing substantial environmental risks.

Top of Form

Top Highlights from the FMI’s Analysis of the Process Liquid Analyzer Industry:

The United States process liquid analyzer industry is estimated to be secured an 18.7% market share in 2023.
Germany market is anticipated to obtain a 4% market share in 2023.
Asia Pacific market is assessed to witness notable growth. Countries in Asia like India and China are forecasted to expand at 6.8% and 6.2% CAGR over the forecast period respectively.
In Japan, the process liquid analyzer industry is estimated to register 6.2% of the global market share.
The United Kingdom market is set to represent a CAGR of 4% over the predicted time frame.
Based on liquid medium, water is estimated to acquire a 38% market share over the forecast period.
Oil and petrochemicals, based on end use, are projected to obtain a 32.7% market share in 2023.

Glad Tidings: Key Developments in Process Liquid Analyzer Market

In June 2018, Schneider Electric unveiled a new process gas chromatograph analyzer. This product is new in FXI Series and is a quick, durable, and secure liquid and gas composition process analyzer. It has user-friendly, newly-enhanced capabilities and components. The analyzer empowers petrochemical, chemical, and refining plants to boost the reliability, real-time efficiency, and safety of their industrial processes.
In June 2022, Process Insights revealed that it has acquired assets from Schneider Electric’s Process Analyzers business. The asset deals widen and invigorate Process Insights’ already vigorous portfolio of technology and analytical instrumentation. The launch of these analyzers addresses superior market demand for spectroscopic competencies.

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Process Liquid Analyzer Market by Category

By Technology:

NIR Based
NMR Based
ECD Sensor Based
Laser Based

By Liquid Medium:

Water
Oil
Other Chemicals & Liquids

By Product:

pH & ORP (Oxidation-Reduction Potential) Analyzers
Conductivity Analyzers
MLSS (Mixed Liquor Suspended Solids) & Turbidity Analyzers
Liquid Density Analyzers
Chlorine Analyzers
Dissolved Oxygen Analyzers
Total Sulfur & Nitrogen Analyzers
Oil in Water Analyzers
TOC Analyzers
Heavy Aromatics Analyzers

By Display:

Analog
Digital

By End Use:

Oil & Petrochemicals
Water & Wastewater Treatment
Food & Beverages
Chemicals
Medical & Pharmaceutical
Others

By Region:

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

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

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Suite 401, Newark,
Delaware – 19713, USA
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FMI Analysis Suggests Global System on Module Market to Cross USD 4.65 Billion by 2033, Growing at 15% CAGR

The system on module market is poised for remarkable expansion, with Future Market Insights (FMI) forecasting a valuation of USD 1.15 billion by 2023, surging to an impressive USD 4.65 billion by 2033, driven by a robust Compound Annual Growth Rate (CAGR) of 15%.

This growth trajectory is underpinned by a convergence of influential factors such as urbanization, digitization, widespread online presence, and the widespread adoption of advanced Artificial Intelligence (AI) technology. These elements collectively contribute to the escalating demand for SoM solutions. A pivotal driver behind this market’s growth is the pursuit of enhanced performance in consumer electronics, including smartphones, laptops, tablets, and computers. The strategic integration of chipboards within these systems for specific tasks plays a crucial role in fueling the increasing demand for SoM solutions, positioning the market for significant growth in the foreseeable future.

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Key Takeaways:

The system on module market is expected to have a valuation of USD 4.65 billion by 2033.
With a CAGR of 15%, the global market is expected to increase from 2023 to 2033.
The United States system on module market is anticipated to secure a maximum share through 2033.
In the historical period, the market secured a CAGR of 14.1% between 2017 and 2022.
In the historical period, the market captured USD 1.01 billion between 2017 and 2022.

Who is Winning?

The prominent vendors are the leading players in the market that invest a vast amount in acquiring maximum profits. These focus on consumers’ expectations and developing better innovative products that satisfy their requirements. The players are adopting several marketing tactics with advanced technologies to achieve their goals in the global market.

Automobile manufacturers developing advanced autonomous cars with machine learning and sensor technologies are flourishing the market opportunities. Growing demand for embedded systems and cloud-based technologies are increasing the sales of system on module. The innovation of wearable and wireless devices, such as smartwatches, is flourishing the market growth. The adoption of industrial robots and machine learning technology bolsters the market size.

Marketers are developing several advanced devices for end-use industries to reduce workloads and labor work. They are expanding their business to another height through their marketing skills, ideas, and research & development activities. These marketing tactics are mergers, product launches, acquisitions, partnerships, and collaborations.

Advantech Co Ltd., ConnetTech Inc., AAEON Technology, Avnet Inc., EMAC Inc., Avalue Technology, Axiomtek Co Ltd., Eurotech Inc, National Instruments, SECO S.P.A., VIV Technologies Inc., Kontron ST & G,Phytec, Microchip Technology, Emac Inc.,Unex Technology, Digi International Inc., Variscite

Recent Developments in the Market are:

In October 2021, Seco announced its acquisition with Garz and Fricke Group to expand its strength in the European market.
In September 2021, TechNexion announced its partnership with Emteria for developing and uplifting embedded products on the Android operating system.
In 2022, SiFive partnered with BrainChip to design optimized chips with machine learning and Artificial Intelligence technologies for computing edge.
In 2020, e2-s and SoMLabs collaborated on custom design products based on SOMs.

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Market by Category:

By Product:

Power Architecture
ARM Architecture
x86 Architecture

By Application:

Medical
Transportation
Industrial Automation
Entertainment
Test & Measures

By Standard:

SMARC
Qseven
COMExpress

By Region:

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

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Author:

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

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

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

About Future Market Insights, Inc.

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

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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FMI States Global Oil Filled Transformer Market to be Valued at USD 73.98 Billion in 2033, Growing with an Average 6.5% CAGR

The global oil filled transformer market is on a promising trajectory, reaching a valuation of USD 39.41 billion in 2023 and showing signs of significant growth ahead. Projections anticipate a substantial increase by 2033, with an expected valuation exceeding USD 73.98 billion, driven by a notable Compound Annual Growth Rate (CAGR) of 6.5% over the forecast period.

However, amidst this promising expansion, the oil-filled transformer sector faces challenges. Shifting consumer preferences towards alternative transformer technologies, particularly gas and dry-filled transformers, present significant obstacles. The evolving energy landscape emphasizes the need for cleaner and more sustainable power sources. Consequently, the oil-filled transformer market must adeptly address these changing preferences to ensure sustained growth.

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Rise in Electricity Trade on International Level Uplift Market Opportunities:

The growing population all around the globe is increasing the electricity demand and thereby increasing the consumption of oil filled transformers. High electricity consumption in various populated nations such as China, India, and the United States propels market opportunities. The innovation of smart grid to provide strength and reduce the load are expected to increase the adoption of oil filled transformer.

India is among the nations that produce electric power in vast quantities. The country supplies electricity to neighboring international border countries, including Sri Lanka, Bhutan, Myanmar, and Bangladesh. Similarly, several other developing & developed countries are expanding their business to acquire maximum output. Therefore, innovations in transmission, electric equipment, and switching gears drive global market growth.

Key Takeaways:

The oil filled transformer market is expected to have a valuation of USD 73.98 billion by 2033.
With a CAGR of 6.5%, the global market is expected to increase from 2023 to 2033.
The United States oil filled transformer market is anticipated to secure a maximum share through 2033.
In the historical period, the market secured a CAGR of 6.1% between 2017 and 2022.
In the historical period, the market captured USD 37.14 billion between 2017 and 2022.

Who is Winning?

The key players are playing a crucial role in the global market. These players are trying to launch advanced innovative products to satisfy consumers’ requirements. In addition, the prominent players are concerned about the environment and develop non-toxic products.

The leading players invest in the latest technologies to build advanced products and upsurge the market by acquiring maximum output. In addition, these players adopt marketing tactics, including mergers, collaborations, product launches, partnerships, and acquisitions.

Other Prominent Players in the Market are:

General Electric
Schneider Electric
CG Power & Industrial Solutions Ltd
Fuji Electric Co. Ltd
Toshiba International Corporation
Kitashibe Electric Co. Ltd.
Elsewedy Electric
LS Electric Co. Ltd.
Lemi Trafo Transformers
Mettz Group
Ormazable San
Mettz Group
Celme s.r.l.
Eaton
Kirloskar Electric
Kotsons Pvt. Ltd.
ABB Ltd
Bharti Heavy Electricals Ltd.
Schneider Electric SE
Jinan International USA Ltd.
Siemens AG

Recent Developments in the Market:

In Jan 2019, Hammond Power Solutions launched a three-phase transformer for industrial use to prevent harsh environments and ingress of moisture.
In July 2018, ABB Ltd., an automation and electrification company, acquired GE Industries for USD 2.6 billion. This acquisition expands ABB’s position worldwide.

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Oil Filled Transformer Market by Category:

By Core:

Berry
Closed
Shell

By Winding:

w Auto-transformer
T o Winding

By Product Type:

Instrument Transformer
Distribution Transformer
Power Transformer
Others

By Modes of Cooling:

Oil Natural Air Natural
Oil Natural Air Forced
Oil Natural Water Forced

By Substation Connectivity:

Transmission
Distribution

By Rating:

< 5 MVA
> 5 MVA to < 10 MVA
> 10 MVA

By Mounting:

Pad
Pole
Foundation
Others

By Application:

Utility
Residential
Commercial & Industrial

By Region:

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

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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 Industrial Safety Footwear Market Valuation to Exceed USD 23.6 Billion Milestone by 2033, Growing at 7.4% CAGR

The industrial safety footwear market is poised for significant expansion, driven by a robust Compound Annual Growth Rate (CAGR) of 7.4% projected over the forecast period. By the year 2023, the market was anticipated to reach a substantial value of USD 11.6 billion, with estimations indicating a doubling in worth to USD 23.6 billion by 2033.

Several compelling factors contribute to the notable growth observed in the industrial safety footwear market. Chief among these is the ongoing revitalization and expansion of industrial infrastructure. As industrial spaces undergo renovation or new constructions, there arises an essential need for stringent safety measures. The heightened focus on ensuring the welfare and safety of industrial personnel emerges as a key driver, stimulating demand for industrial safety footwear in accordance with evolving safety protocols and standards.

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Key Takeaways:

Rising awareness around workers’ safety, advanced protective gear, and increased construction and industrial operation fuels the sales of industrial safety footwear.
The expanding agricultural and industrial operations in urban settings, along with the building infrastructure of emerging economies like China and India, are consuming a big chunk of the industrial safety footwear market.
The government’s compliance policies around applications of protective gear for workers are making organizations and industries liable for making their workforce work in a safer environment.
The expanding mining industry enables fatal injuries to the workers to require a long range of protective gear. From gloves, and masks to footwear, the demand for industrial safety footwear market’s future looks promising with the restoration of certain industries.

Key Points:

The United States market leads the space in terms of market share and CAGR. The market is expected to cross a value of USD 8.4 billion by 2033. The regional market is expected to thrive at a CAGR of 7.2% between 2023 and 2033.
The China industrial safety footwear market is another significant market. It thrives at a steady CAGR of 6.8% during the forecast period. The market is likely to reach a value of USD 1.7 billion by 2033. Developing economies like India and China are indulging in huge construction, making these spaces highly potential markets.
Leather is likely to thrive in the material type category due to better fitting, durability, climate control, and skin-friendly properties. It is expected to thrive at a CAGR of 7.2% during the forecast period.
The construction tops the application tally with a CAGR of 6.9% between 2023 and 2033. The growth is attributed to the big construction project and the importance of industrial safety footwear for construction workers.

Competitive Landscape:

The key players focus on making durable, flexible, and safe footwear for the end users. The industry-specific approach, along with the adoption of advanced sole technology, is the key to becoming prominent in the competitor’s tally. Key competitors also merge, acquire, and partner with other companies to increase the supply chain and distribution channel. The key players in the market are JAL Group France SAS, Dunlop Boots, COFRA S.r.l., Honeywell International, Inc, and Hewats Edinburgh.

For instance:

Dunlop Boots has added new sole technology in safety footwear, such as purofort and Acifort. These are manufactured with PVC, nitrile rubber, and polymers. The company claims to deliver global safety standards to various end-user industries.
An Italian footwear brand, Cofra SFI has launched a long range of workwear footwear such as shellwear, ergowear, slim work, and casual safety. The company uses different grades of PVC and rubber to produce protective footwear.

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Key Segments:

By Material:

Leather
Rubber
Plastic
Waterproof

By Application:

Construction
Manufacturing
Oil & Gas
Chemicals
Transport
Mining
Food
Pharmaceuticals

By Product:

Shoes
Boots

By Region:

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

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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 Industrial Automation Market Revenue to Surpass USD 81.4 Billion Mark by 2033, Surging at 7.2% CAGR | FMI Analysis

The global industrial automation market is poised for substantial growth, with projections indicating a valuation exceeding USD 81.4 billion by 2033, driven by a steadfast Compound Annual Growth Rate (CAGR) of 7.2%. Starting with an initial forecasted value of USD 40.6 billion in 2023, the market lays a strong foundation for ambitious expansion in the coming decade.

A significant driver behind this impressive growth trajectory is the unwavering commitment to safety within industrial automation practices. Manufacturers, businesses, and operators are increasingly prioritizing the development and deployment of cutting-edge safety measures to mitigate workplace incidents. This heightened emphasis not only safeguards the well-being of workers but also presents substantial market opportunities, as organizations recognize the inherent value in prioritizing the health and safety of their workforce. As the industrial automation landscape continues to evolve, the convergence of safety initiatives and robust growth strategies underscores its pivotal role in shaping the future of industrial operations.

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Automotive Industry significantly drives the Market Growth:

Growing demand for industrial automation in the automation sector boosts the market growth. Several automakers maintain efficiency and accuracy to enhance the performance of machinery. Automotive is an essential sector that captures a significant global market share. The rising number of vehicles and advanced electric vehicles is increasing the adoption of industrial automation.

The innovation of robotic systems in automotive is expanding the market growth. The increasing demand for advanced skills, machine learning, and mechatronics drives market opportunities. Apart from it, the electronic industry is further expected to drive market growth.

Key Takeaways:

The industrial automation market is expected to have a valuation of USD 81.4 billion by 2033.
With a CAGR of 7.2%, the global market increasing from 2022 to 2033.
The United States industrial automation market is anticipated to record a CAGR of 7% through 2033.
With a CAGR of 6.3%, the United Kingdom market significantly uplifts during the forecast period.
The China market is expected to capture a CAGR of 6.6% over the forecast period.
Japan’s market is expected to record a CAGR of 5.7% from 2023 to 2033.

Competitive Landscape:

The prominent players play a significant share in the global market by innovating advanced devices. These players are adopting better technology and new marketing skills to upsurge the market opportunities. These players are adopting several marketing strategies to uplift the market, including mergers, acquisitions, partnerships, agreements, and collaborations.

Leading Players in the Market are:

Schneider Electric
Emerson Electric Co.
ABB
General Electric
Honeywell International
Mitsubishi Electric
FANUC
Rockwell Automation
Siemens
Yokogawa Electric

Recent Developments in the Industrial Automation Market are:

In January 2022, Fuji Electric announced its new plant system in Tokyo. The new plant expands its production level with an area of 13,030 meters.
In March 2020, Epson Robots announced its partnership with Air Automation Engineering to provide better technical services in the United States.
In March 2021, an American-based company- Suez, partnered with Schneider Electric to provide digital solutions in water cycle management.
In January 2021, Omron developed its new series robot named SCARA. The robot fastens the work with more efficiency. It is one of the lightweight and better-performance robot series.
In November 2020, Rockwell Automation announced its new asset management software version. It helps to update, recover and handle the work with automation devices.

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Industrial Automation Market by Category:

By Deployment:

Industrial Robots
Machine Vision System
Process Analyzer
Field Instruments
Human Machine Interface
Industrial PC
Industrial Sensors
Industrial 3D Printing
Vibration Monitoring

By Component:

Supervisory Control and Data Acquisition
Programmable Logic Controller
Distributed Control System
Manufacturing Execution System
Industrial Safety
Plant Asset Management

By End-use Industry:

Oil & Gas, Chemicals
Pharmaceuticals & Medical Devices
Food & Beverages
Energy & Power
Automotive
Machine Manufacturing
Water & Wastewater Treatment
Electronics & Semiconductors
Metals & Mining
Others

By Region:

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

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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 Projects Global Industrial Motors Market Aims to Reach USD 917.3 Million Revenue Share by 2032, Growing at 3.5% CAGR

The global industrial motors market exhibits steady growth, maintaining a robust Compound Annual Growth Rate (CAGR) of 3.5%. Starting with an initial valuation of USD 653.0 million in 2022, the market sets ambitious goals, aiming to achieve a significant overall value of USD 917.3 million by 2032.

This journey towards sustained growth is characterized by a harmonious integration of innovation, sustainability, and an unwavering dedication to enhancing operational efficiency. As industrial processes and machinery evolve on a global scale, the resilience and persistence of the industrial motors market underscore its indispensable role in powering diverse industrial applications. With a steadfast focus on innovation and efficiency, the industrial motors market is poised to navigate the complexities of the industrial landscape, driving forward with purpose toward its envisioned valuation by 2032.

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Key Takeaways from Market Study:

By product type, AC motors are projected to hold a market share of 71% in 2032.
By end use, the energy segment is anticipated to boost the demand for industrial motors globally, and demand from it is expected to grow at 4.1% from 2022 to 2032.
By power output, the 15 to 20 MW segment is expected to accelerate and create incremental opportunity of USD 70.5 million between 2022 and 2032.
By 2032, Europe is expected to have the largest share of the global market, accounting for around 28.7%.

“The market for industrial motors is predicted to expand rapidly due to increasing demand for innovative and energy-efficient products across industries. Rising automation and digitalization in a variety of end-use sectors are driving demand. Industry participants are investing in strategic alliances, expansions, and cost-effective solutions to obtain a competitive advantage.” Says an FMI analyst.

Who is Winning?

Among the industry’s key players are ABB Group, Siemens AG, Hyundai Electric Co. Ltd., Toshiba Corporation, Nidec Corporation, Hitachi, Ltd., WEG S.A., General Electric Co., Bonfiglioli Riduttori S.p.A., Hyosung Corporation, Menzel Elektromotoren GmbH, Kirloskar Electric Company Ltd., and Regal Beloit Corporation.

Globally, the key market players are focused on developing and extending production technologies and expansion capacities to meet the industry demands.

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The industrial automation division of Future Market Insights offers a novel approach and innovative perspective in analysing the industrial automation market. Comprehensive coverage of capital, portable, process, construction, industrial, and special purpose machinery across the manufacturing sector and distinctive analysis about the installed base, consumables, replacement, and USP-feature-application matrix make us a pioneering voice in the industry. We are preferred associates with established as well as budding industry stakeholders and channel partners when it comes to sustaining, grow and identify new revenue prospects.

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Global Industrial Motors Market by Category:

By Power Output:

1 to 5 MW
5 to 10 MW
10 to 15 MW
15 to 20 MW
20 to 25 MW

By Product Type:

AC Motors
- Induction Motor
- Synchronous Motor
DC Motors
- Brushed DC
- Brushless DC

By End Use:

Oil & Gas
Energy
Mining
Cement
Metal and Steel
Pulp and Paper
Chemical
Water and Wastewater
Marine

By Region:

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

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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 Busbars Market Revenue Forecasted to Drive Past USD 27,333.7 Million Mark by 2032, Growing Steadily at 4.2% CAGR

The busbars market has exhibited noteworthy growth, reaching a valuation of USD 18,169.6 million in 2022, indicating a promising trajectory from the previous year’s figure of USD 17,592.1 million. However, the market is poised for substantial expansion in the forthcoming years, with a projected Compound Annual Growth Rate (CAGR) of 4.2% expected from 2022 to 2032. By 2032, it is forecasted to achieve a significant valuation of USD 27,333.7 million, underscoring its pivotal role in the realm of power distribution.

At the heart of this robust growth are the indispensable components known as busbars. These metallic bars or strips play a critical role in power distribution systems, ensuring the seamless and efficient transmission of electricity from its source to its designated destination. Primarily composed of copper, with aluminum and brass variants also available, busbars are fundamental in maintaining the reliability and safety of electricity transmission networks.

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Driving Busbars Market Growth: New Plant Launches and Enhanced Electrical Distribution Efficiency

Busbars play a pivotal role in streamlining electricity distribution, offering superior flexibility and minimized wiring errors compared to traditional installation methods. Primarily crafted from copper or aluminum metallic strips, these components simultaneously conduct electricity and provide grounding functions.

Key Insights:

The global busbars market exhibited gradual growth with a 0.8% CAGR from 2017 to 2021, as per Future Market Insights.
The market is set for substantial acceleration, projected to experience a noteworthy 4.2% CAGR between 2022 and 2032.
Driving forces behind this surge include global industrialization, urbanization, growing emphasis on the cost and operational advantages of busbars, and heightened awareness of energy efficiency.
Commercial busbar applications are poised to contribute significantly to sales growth in the coming years.
The industrial sector currently consumes over 50% of the world’s energy, with this consumption predicted to rise further from 2022 to 2032.
The surge in industrialization presents promising opportunities for global busbar market players.
Rapidly-growing economies like China and India are expected to emerge as lucrative markets for busbar manufacturers.

Recent Strategies and Investments:

Manufacturers have demonstrated a strategic focus on mergers and acquisitions to bolster market position and product portfolios. Considerable investments are channeled into expanding manufacturing capabilities in diverse regional markets to capitalize on growth potential. Acquisition and investment strategies are aligned with objectives such as broadening product lines, advancing technology, establishing a geographical foothold, and entering emerging markets to strengthen market presence. Simultaneously, players are dedicating attention to innovative product development.

Notable Example:

In March 2020, ABB Ltd.’s electrification business division acquired a significant stake in Shanghai Charge Dot New Energy Technology Co., Ltd., exemplifying the trend of strategic acquisitions within the industry.

A list of Key Players Covered in the Busbars Market are:

Schneider Electric SE
Eaton Corporation Plc.
Siemens AG
ABB
Methode Electronics
Nacobre
IUSA Group
Rittal GmbH & Co. KG

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Key Segments Covered in Busbars Industry Analysis:

Busbars Market by Conductor Type:

Copper Busbars
Aluminium Busbars

Busbars Market by Power Rating:

Low Rating Busbars
Medium Rating Busbars
High rating Busbars

Busbars Market by End User:

Busbars for Residential Use
Busbars for Commercial Use
- Hotels
- Hospitals
- Academics
Busbars for Industrial Use
- Chemical
- F&B
- Metal & Mining
- Others

Busbars Market by Region:

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

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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 Industrial Robotics Market to Reach USD 220 Billion by 2033, Growing at an Outstanding CAGR of 18.9%

The global industrial robotics market is experiencing a remarkable surge, with projections indicating a valuation exceeding USD 220 billion by 2033. This unprecedented growth is propelled by a compelling Compound Annual Growth Rate (CAGR) of 18.9% over the ten-year forecast period from 2023 to 2033. The driving force behind this upward trajectory is closely intertwined with the critical need for enhanced productivity, particularly within high-volume production lines, with notable impacts observed in sectors such as semiconductor and electronic device manufacturing.

A significant trend shaping the evolution of the industrial robotics market is the pivotal role played by East Asia. By 2023, East Asia is positioned to emerge as the most thriving industrial robotics market, commanding over two-thirds of the total revenue share. This dominance underscores the escalating demand for automation and robotics solutions within global manufacturing hubs. This demand is intricately linked to the relentless pursuit of efficiency and precision in production processes, marking a transformative phase in the manufacturing industry.

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Emerging Technology and Industry 5.0: A Paradigm Shift Toward Human-Centric Growth

A new technological epoch is upon us, one that places paramount emphasis on worker well-being and leverages novel technologies for expansive growth. This shift unfolds while meticulously honoring the planet’s production thresholds. Enter Industry 5.0, a movement that seeks to reintegrate the human touch into the realms of production and development. Prognosticating optimal deployment of human creative intellectual capacities, Industry 5.0 is poised to catalyze lucrative prospects for collaborative robots (cobots).

Noteworthy Insights from the Industrial Robotics Market:

United States Dominance: The global industrial robotics market is set to be led by the United States, anticipated to attain a valuation of $77.9 billion by 2033. This ascendancy is propelled by a robust compound annual growth rate (CAGR) of 18.7% during the forecast period. The demand surge for industrial robots within the high-tech electronics sector significantly bolsters this market expansion.
China’s Significance: China emerges as a formidable player in the industrial robotics arena, with a projected valuation of $15.8 billion by 2033. A substantial growth rate of 18.2% CAGR over the next decade fuels this trajectory. The automotive industry’s remarkable growth underscores China’s ascent in the market.
Japanese Market Dynamics: Japan’s market is slated to reach $12.9 billion by 2033, exhibiting a CAGR of 17.2% from 2023 to 2033. The market’s long-term drivers encompass burgeoning elderly care needs and the evolving population dynamics of yet-to-be retired baby boomers.

Noteworthy Market Developments by Key Players:

In March 2022, Mitsubishi Electric Corporation unveiled an advanced industrial robotics system that empowers robots to execute tasks within intricate environments like food-processing plants. Fusing Mitsubishi Electric’s Maisart AI technologies, including high-precision speech recognition, this system streamlines work tasks. Operators hold the reins to fine-tune robot movements to meet specific requirements, with plans for commercialization in 2023.
In October 2022, YASKAWA ELECTRIC CORPORATION inaugurated the Robotics Technology Center in Istanbul, Türkiye. Nestled in a pivotal industrial park within the city, the center showcases demonstration machines and operates systems. YASKAWA’s sustained investments in Türkiye affirm its commitment to involving customers in the development of products, technologies, and solutions spanning Europe.

Key Players:

Yaskawa Electric Corporation
FANUC Corporation
Kawasaki Heavy Industries Ltd
Kuka AG
Mitsubishi Electric
Teradyne Inc.
ABB Ltd.
Yamaha Motor Co., Ltd.
Hirata, Corporation
Denso Wave Incorporated
Toshiba Machine Co. Ltd.
OMRON Corporation
Others

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Industrial Robotics Market by Category:

By Product Type:

SCARA Robots
Delta Robots
Cartesian Robots/ Gantry Robots
Articulated Robots
Collaborative Robots
Dual-arm Robots

By Application:

Assembly/Disassembly
Clean Room
Dispensing
Handling Operations
Processing/Cutting
Welding
Painting & Coating
General Applications

By End Use:

Automotive Industry
Electrical/Electronics Industry
Rubber & Plastics Industry
Metal & Machinery
Food & Beverages
Plastic & Auxiliary Chemical Products
Auxiliary Industries
Bulk Commodities & Materials

By Region:

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

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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 States Global Polymer Seals Market Expected to Cross USD 18.7 Billion by 2032, Growing Steadily at 5.1% CAGR

The global polymer seals market expected to drive a promising Compound Annual Growth Rate (CAGR) of 5.1% from 2022 to 2032. The market is poised to achieve a significant milestone, aiming for an impressive USD 18.7 billion by 2032.

Polymer seals play a crucial role across diverse industries, particularly in the manufacturing of subsea equipment, turret swivel stack systems, production and exploration equipment, and transfer systems. Renowned for their exceptional ability to meet stringent requirements concerning diameter, pressure, and temperature, these seals have become indispensable components in vital applications across various sectors. Their versatility and reliability firmly establish them as integral contributors to the advancement of industrial solutions.

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Increasing defense budgets of governments are also expected in the coming years, which should generate further demand for polymer seals. For instance, the governments of India and China have been observed to increase their spending on defense in recent years, particularly for upgrading their respective air forces by investing in latest military-grade air crafts and fighter jets. Owing to the tense geopolitical climate in the region, the spending is set to rise in the near future and result in accelerating polymer seal sales.

FMI also predicts the emergence of certain market restraints from 2022 to 2032. These restraints are likely to stem from the fact that sealant production causes significant pollution. Small scale consumers are also poised to choose polymer seal substitutes due to the high expenses associated with polymer seals.

Key Takeaways from the Polymer Seals Market Study:

By material type, the polyurethane (PU) segment is anticipated to witness considerable demand growth at 4.9% CAGR from 2022 to 2032.
By product type, the sales of hydraulic and pneumatic seals are projected to expand at a CAGR of 5.6%.
By region, Europe is anticipated to witness substantial growth in the polymer seals market due to lucrative markets in Germany, Italy, and the United Kingdom.
India and China markets are anticipated to emerge as prominent polymer seals markets in Asia and register 6.9% and 6.0% CAGR, respectively.
By end use, transportation equipment was estimated to hold a prominent volume share of 30.4% in 2022.

Who is Winning?

Key players in the Polymer Seals include Saint-Gobain, ERIKS Group, SKF AB, Precision Polymer Engineering/IDEX, Trelleborg AB, Bal Seal Engineering, Parker Hannifin Corporation, Advanced Seals & Gaskets Ltd., Greene Tweed, TRP Polymer Solutions Ltd., Specialised Polymer Engineering Ltd., SHS Dichtungen GmbH, A.W. Chesterton Company, Carco Precision Rubber Products Spa, Novotema Spa

To gain a competitive advantage in the industry, key manufacturers are developing innovative polymer seal products. Market players are also heavily investing in expansion, mergers, acquisitions, and strategic partnerships to expand their global footprints.

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Global Polymer Seals Market by Category:

By Material Type:

Polyurethane (PU)
Acrylonitrile-butadiene-rubber (NBR)
Fluoro-rubber (FKM)
Polytetrafluoroethylene (PTFE)

By Product Type:

Hydraulic and Pneumatic seals
Rotary Seals
Spring Energized Seals

By End Use:

Transportation Equipment
- Automotive and Components
- Aircraft and Components
- Railroad Equipment
- Marine Transportation and Components
Industrial Machinery and Equipment
Electronic Apparatus and Appliances
Healthcare
- Medical Devices and Component Manufacturing
- Surgical Tool manufacturing
Oil and Gas Extraction
Construction Infrastructure and Utilities
MRO, Other Manufacturing, and Assembly

By Distribution Channel:

OEM
Aftermarket

By Region:

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

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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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