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The global excavators market is anticipated to register considerable growth, exhibiting a CAGR of 5.2% from 2023 to 2033. According to the research report published by FMI, the market is likely to hit a valuation of US$ 74.27 billion in 2023 and US$ 123.30 billion by 2033.

The construction industry is being fueled by the rising urbanization of both developing and developed countries. As a result, there is a growing need for heavy-duty machinery in the construction sector. Excavators are frequently used in small-scale building, agriculture, forestry, and other operations. They are also employed in mining and sewage disposal applications. Many different types of soil can be dug up with excavators. In these applications, excavators are capable of carrying out a wide range of demanding tasks.

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Excavators are predicted to become more and more in demand as infrastructure projects and smart city construction pick up in countries like China, South Korea, India, and Japan. The expansion of mining operations in China, Vietnam, and Thailand is also anticipated to increase product sales. Asia Pacific’s market growth is projected to be facilitated by the presence of major industry players and their evolving business expansion strategies. Market growth is predicted to be boosted by the increased investments in megaprojects across developing countries.

The introduction of electric excavators and small excavators with cutting-edge technology is anticipated to open up investment potentials in the industry. Furthermore, the electrification of drivetrains to reduce carbon emissions is likely to contribute to product sales. The adoption of automated excavators is likely to augment in the coming years.

Key Takeaways from Excavators Market Report:

• In 2018, the global market size stood at nearly US$ 57.64 billion.
• Asia Pacific held the dominant share with a revenue of more than 41% in 2022. The region is likely to register a CAGR of 5.8% from 2023 to 2033.
• The electric drive type segment is poised to exhibit a CAGR of 14.5% during the forecast period.
• The excavators with up to 250 HP registered a huge market share nearly 70% in 2022. This segment is predicted to exhibit a CAGR of approximately 5.8% from 2023 to 2033.
• The excavators weighing 46 > metric tons captured a massive 35% market share in 2022.
• The wheeled excavator segment accounted for a revenue of nearly 72.6% in 2022.

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Recent Development Observed by FMI:

• Tata Hitachi unveiled ZX670H, a new mining excavator, in March 2023. The machine is made in India and is designed to have excellent levels of comfort, safety, and longevity while requiring less maintenance.
• In January 2021, Hyundai Construction Equipment introduced a new line of excavators. The eleven new excavators, which range in class from 8 tonnes to 50 tonnes, are introduced as part of the SMART PLUS series. The new launch aims to improve the company’s international positioning.
• In September 2022, Schwing Stetter introduced the two new hydraulic wheel loaders and excavators from XCMG. The business is continuously enhancing its market presence and has aspirations to broaden its reach globally.

Key Players in the Excavators Market Report:      

Atlas Copco, Caterpillar Inc., CNH Global NV, Doosan, Escorts Group, Hitachi Construction Machinery, Hyundai Heavy Industries Ltd, JC Bamford Excavators Ltd., John Deere, Kobelco, Komatsu Ltd., Liebherr-International AG, Manitou Group, Mitsubishi, Sany Heavy Industries Co Ltd., Sumitomo Heavy Industries Ltd, Terex Corporation, Volvo Construction Equipment AB.

Excavators Market Segmentation

By Vehicle Weight:

• < 10
• 11 to 45
• 46 >

By Engine Capacity:

• up to 250 HP
• 250 to 500 HP

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By Type:

• Wheel
• Crawler

By Drive Type:

• Electric
• ICE

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & 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.

Explore FMI’s Comprehensive Coverage of the Automotive Landscape

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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The center-less grinding machines Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the center-less grinding machines market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for center-less grinding machines. 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.

The global center-less grinding machines market is poised for remarkable growth, projected to achieve a valuation of an impressive US$ 6.9 billion by the year 2023, and is anticipated to scale new heights, surging past US$ 18 billion by the year 2033. This prodigious expansion is set to transpire through a steady and robust Compound Annual Growth Rate (CAGR) of 10% from 2023 to 2033.

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Driving Factors Accelerating the Market:

Technological Advancements: Pioneering innovations in center-less grinding machine technology are steering the industry into a new era of efficiency and precision. These advancements are empowering businesses to achieve unparalleled levels of productivity, quality, and cost-effectiveness.

Rising Automation: Automation has become the cornerstone of modern manufacturing processes, enhancing operational efficiency, reducing labor costs, and minimizing errors. Center-less grinding machines are at the forefront of this automation revolution, driving their widespread adoption across industries.

Growing Demand for Precision Engineering: In an era where precision is paramount, center-less grinding machines are the linchpin of precision engineering. Industries such as aerospace, automotive, and medical devices rely on these machines to achieve the utmost precision in their components, further boosting market growth.

Global Industrial Expansion: The expanding industrial landscape across emerging economies is fostering the demand for center-less grinding machines. As manufacturing sectors burgeon in regions like Asia-Pacific, the market is set to capitalize on this global industrial resurgence.

Challenges Posing Restraints:

Cost Constraints: Despite their immense benefits, high initial investment costs associated with center-less grinding machines can be a deterrent for small and medium-sized enterprises (SMEs). This financial hurdle needs to be addressed to unlock the full potential of the market.

Skilled Workforce Shortage: Operating and maintaining center-less grinding machines requires a skilled workforce. The shortage of skilled technicians poses a challenge for the market, necessitating investment in training and development.

Environmental Concerns: As sustainability takes center stage, the environmental impact of manufacturing processes is under scrutiny. Center-less grinding machines, like all industrial equipment, must address environmental concerns, potentially leading to stricter regulations.

Dynamic Competitive Landscape

In the fiercely competitive arena of the global center-less grinding machines market, industry leaders spare no effort in advancing their technological prowess through substantial investments in research and development. Their primary objective? To introduce groundbreaking machinery that boasts superior selectivity, reduced energy consumption, and heightened durability.

These visionary frontrunners are not stopping there. They are channeling their innovation into developing cutting-edge membranes capable of operating at elevated temperatures and pressures. These advancements not only bolster operational efficiency but also broaden the spectrum of industrial applications.

Furthermore, some astute companies have strategically formed partnerships and collaborations with local enterprises and esteemed research institutes. This strategic synergy facilitates the exchange of knowledge, expertise, and valuable resources, propelling manufacturers towards the rapid development of pioneering technologies and an expanded portfolio of offerings.

For instance:

June 2022 witnessed a remarkable acquisition, as Resonetics, a prominent industry player, acquired Agile MV, hailing from Montreal, Quebec. This strategic move led to the renaming of Resonetics’ design and development services division, now proudly known as AGILE Product Development. This acquisition exemplifies Resonetics’ commitment to staying at the forefront of product development and turnkey device assembly.

In February 2019, Resonetics struck another strategic deal, this time acquiring Caribou Technologies, a distinguished Minnesota-based authority in center-less grinding, forming, winding, machining, and laser processing for the medical device sector. Caribou Technologies, in addition to serving a myriad of medical device manufacturers in the Minneapolis market, boasts a burgeoning international clientele, showcasing rapid market expansion.

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Key Companies Profiled

• Acme Manufacturing
• Fives Group
• Glebar
• Hanwha Machinery
• Jainnher Machine

Center-less Grinding Machines Market Outlook by Category

By Machine Type:

• Precision Center-less Grinding Machines
• General-purpose Center-less Grinding Machines

By Application:

• Automotive
• Aerospace
• Manufacturing
• Electronics
• Medical
• Others

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About Future Market Insights (FMI)

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.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Future Market Insights, a distinguished ESCOMAR certified market research and consulting firm, forecasts a promising trajectory for the global high voltage glass insulator market. Projected to reach a valuation of US$ 15.5 billion by 2033, the market is currently valued at an impressive US$ 11,000 million in 2023. This exponential growth is underscored by a robust Compound Annual Growth Rate (CAGR) of 4.5% during the forecast period.

Empowering Electrical Infrastructure: The Role of High Voltage Glass Insulators

High voltage glass insulators, vital components of modern electrical systems, play a pivotal role in safeguarding conductors from environmental factors. As the renewable energy sector continues its rapid expansion, the demand for high voltage glass insulators gains substantial momentum. The proliferation of wind and solar farms necessitates an intricate and reliable electrical infrastructure that can efficiently transmit power from remote locations to urban centers, thus driving the market’s upward trajectory.

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Global Energy Shift: A Catalyst for Demand Surge

The escalating requirement for electricity in emerging economies, including India, China, and Brazil, propels investment in power infrastructure upgrades. With an unwavering commitment to sustaining economic growth and catering to burgeoning populations, these countries are strategically modernizing their power grids. This paradigm shift towards enhanced reliability and efficiency serves as a prominent driver of high voltage glass insulator demand.

Modernization Imperative: Revitalizing Aging Electrical Networks

The aging electrical infrastructure in many regions necessitates revitalization efforts to align with contemporary safety and efficiency standards. In light of this, various firms are undertaking new replacement projects to rejuvenate decades-old transmission lines and associated components. As these initiatives gain momentum, the demand for high voltage glass insulators receives an added impetus.

Global Endeavors: Investment Surge in Power Infrastructure

Governments and private enterprises alike are channeling substantial investments into power infrastructure development to cater to the escalating global electricity demand. This concerted effort underscores the heightened need for high voltage glass insulators, as they form a critical component of the evolving power landscape.

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Technological Evolution: Forging a Path to Progress

The evolution of innovative technologies in the high voltage glass insulator sector serves as a noteworthy factor contributing to escalating demand. The introduction of advanced insulators designed to withstand higher voltage levels, exhibit superior insulation properties, and boast enhanced durability holds promise for modern power transmission systems. These attributes position the newer insulators as ideal candidates for powering future energy networks, accentuating market growth.

Regional Spotlight: Driving Forces behind Market Dynamics

While the global landscape witnesses soaring demand, certain regions stand out as pivotal contributors to market growth. North America and Asia Pacific emerge as leaders, with North America holding a significant share due to infrastructure upgrade initiatives and Asia Pacific experiencing rapid economic growth and surging electricity demand. These regions collectively drive the high voltage glass insulator market towards its impressive projected valuation.

In this dynamic landscape, Future Market Insights remains committed to providing incisive insights and expert analyses that shape and illuminate the high voltage glass insulator market’s trajectory. With a passion for excellence and a dedication to accurate forecasting, Future Market Insights continues to lead the way in actionable market intelligence.

Key Players:

• Seves Group
• MacLean Power System
• Nanjing
• Global Insulator Group
• ZX Insulators
• JSC U.M.E.K
• Hubbell
• Victor Insulator
• Dalian Insulator Group Co. Ltd
• Sichuan Yibi Global Group

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High Voltage Glass Insulator Market Outlook by Category

By Type:

• Suspension Glass Insulator
• Pin Glass Insulator

By Application:

• Distribution & Railway Application
• High-voltage Direct Current (HVDC) Application
• Others

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• Central Asia
• East Asia
• Russia & Belarus
• Balkan & Baltic Countries
• The Middle East & Africa
• South Asia & Pacific

Author By:

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

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

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, 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.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com

The Gas Generating Systems Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the Gas Generating Systems market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for Gas Generating Systems. 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.

The Gas Generating Systems Market is experiencing heightened interest from both corporate entities and individual consumers seeking to diminish reliance on conventional power grids and achieve energy self-sufficiency. The uptake of gas generating devices, including biogas or natural gas generators, enables users to locally produce their own electricity. This emerging trend is primarily driven by the assurance of a reliable and self-reliant energy source, indicating a shift towards enhanced energy resilience and autonomy. Projections suggest that by 2033, the gas generating systems market could exceed a value of US$ 20.8 billion. Over the span of ten years from 2023 to 2033, the market is expected to grow at a Compound Annual Growth Rate (CAGR) of 9.4%. It is anticipated to witness a value increase in 2023, reaching US$ 8.5 billion.

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Various entities, both commercial and residential, are actively seeking methods to reduce their reliance on traditional power grids and achieve energy independence. Gas-powered generators, including those utilizing biogas and natural gas, are emerging as viable solutions, enabling users to generate their own electricity locally. The demand for these generators is primarily driven by their ability to provide a reliable and independent source of energy.

Gas generators offer a dependable power supply, particularly in areas prone to frequent power outages or where grid connectivity is limited. They also fulfill the urgent need for emergency backup power, ensuring uninterrupted operations for critical infrastructure, businesses, and households.

From an environmental standpoint, gas generators are perceived as more environmentally friendly compared to diesel or gasoline generators, thanks to their lower emissions of pollutants and greenhouse gases. The adoption of biogas generators is expected to increase as part of efforts to promote renewable energy sources and reduce dependence on fossil fuels.

Furthermore, the economic viability of gas generators is enhanced by the lower cost of natural gas compared to other fossil fuels. Technological advancements have also improved the efficiency of these generators, resulting in reduced fuel consumption and operating costs over time.

Gas generators find widespread use across various industrial sectors such as manufacturing, construction, agriculture, and oil & gas, where a reliable power supply is essential for machinery, equipment, and operations. The demand from these sectors is expected to rise as they seek to improve operational efficiency and productivity.

Government initiatives aimed at promoting greener and more sustainable energy sources also play a significant role in driving demand for gas generators. Incentives, tax exemptions, and subsidies offered to organizations and individuals investing in these systems are expected to further boost market demand and facilitate market expansion.

Key Takeaways:

• The global gas generating systems market witnessed a decent CAGR of 11.4% from 2018 to 2022.
• The United States gas generating systems market is projected to witness a CAGR of 9.3% from 2023 to 2033.
• The United Kingdom gas generating system market is anticipated to cross a value of US$ 815.4 million by 2033.
• Based on end users, the industrial segment is anticipated to witness a CAGR of 9.1% in the forecast period.
• Based on the power rating, the less than 75 kVA segment witnessed a CAGR of 11.2% from 2018 to 2022.

Competitive Landscape:

Air Liquide S.A, Air Products, and Chemicals, Inc, Colfax Corporation, GCE Holding, and Itron, Inc. Manufacturers are diversifying their product lines to provide a variety of gas generating systems with different capacities, features, and requirements. This enables them to meet a variety of customer requirements in various sectors and applications.

The effectiveness, functionality, and dependability of gas generating systems are the subject of ongoing research & development. Advanced technologies such as electronic control systems, enhanced engine designs, intelligent monitoring & diagnostic capabilities, and remote management features are being incorporated by manufacturers. They want to improve user experience and boost system efficiency.

A few other businesses are creating goods that can run on several gases, including biogas, natural gas, and propane, making them fuel-flexible. Users might adjust to the availability and cost of different fuel sources owing to this flexibility, which increases versatility and efficiency.

For instance:

• Generac Power Systems introduced the Generac PWRcell system in January 2020. It is a top producer of backup power production solutions and supplies. In order to address the rising demand for home energy storage solutions, Generac has worked to improve and expand its PWRcell product line since its introduction.

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More Valuable Insights Available:

The research report analyzes the global demand for gas generating systems. The global gas generating systems market has been analyzed with the COVID-19 impact, various macroeconomic factors, market trends, and market background. As per Future Market Insights (FMI), the market has been analyzed based on power rating (less than 75 kVA, 75 to 375 kVA, and above 375 kVA), end user (industrial, commercial, and residential), and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, supply-side and demand factors.

Key Segments Profiled:

By Power Rating:

• Less than 75 kVA
• 75-375 kVA
• Above 375 kVA

By End User:

• Industrial
• Commercial
• Residential

By Region:

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

Author By:

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

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

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

About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, 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.

Contact Us:

Future Market Insights, Inc.

Christiana Corporate, 200 Continental Drive,

Suite 401, Newark, Delaware – 19713, USA

T: +1-845-579-5705

LinkedIn | Twitter | Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com

The Exterior Insulation and Finish Systems (EIFS) Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the Exterior Insulation and Finish Systems (EIFS) market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for Exterior Insulation and Finish Systems (EIFS). 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.

The Exterior Insulation and Finish Systems (EIFS) Market is poised for significant growth, driven by an increase in construction activities and infrastructure investments worldwide. This trend is further supported by a growing preference for energy-efficient structures, as there is a heightened focus on environmentally sustainable construction practices.

According to a comprehensive market survey report conducted by Future Market Insights, the global demand for exterior insulation and finish systems (EIFS) reached a value of US$ 79.8 billion in 2022. Looking ahead, sales within the EIFS market are expected to experience a Compound Annual Growth Rate (CAGR) of 10.2% over the next decade. Moreover, the research forecasts a substantial increase in the global EIFS market valuation, projected to rise from US$ 89.1 billion in 2023 to an impressive US$ 235.6 billion by the year 2033.

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The increased sales projections for Exterior Insulation and Finish Systems (EIFS) are supported by the growing number of construction projects and increased investments in global infrastructure development. Additionally, there is a rising demand for energy-efficient architectural structures and a strong emphasis on eco-friendly construction methods, which further drives the EIFS market.

Developed nations are currently leading the EIFS market due to widespread acceptance and the presence of well-established industries specializing in such products. However, factors such as affordability, availability, insulation capabilities, and exterior finishing quality contribute to the growing popularity of EIFS in emerging economies as well.

Key Takeaways:

• Anticipated Expansion of EIFS Demand in the United States: The demand for EIFS in the United States is projected to experience substantial growth, reaching a value of US$ 43.3 billion by the year 2033. This expansion is expected to be driven by a Compound Annual Growth Rate (CAGR) of 10.2%.
• Positive Outlook for the United Kingdom Market: The United Kingdom market for EIFS is poised for growth, with an expected net worth of US$ 9.2 billion by 2033. This expansion is projected to occur at a CAGR of 10.1%.
• Robust Growth Prospects in Asian Markets: The EIFS markets in China, Japan, and South Korea are set to witness significant development, with an average CAGR of 10.1% through the year 2033. Notably, China’s EIFS market is anticipated to lead the Asia Pacific region, reaching an approximate value of US$ 53.6 billion by 2033. Meanwhile, Japan and South Korea’s markets are predicted to achieve values of around US$ 45.2 billion and US$ 15.8 billion, respectively, by the same year.
• Polymer-based EIFS Product Segment Projection: The Polymer-based EIFS product segment is expected to undergo growth at a slightly lower CAGR of 10% from 2023 to 2033.
• Rapid Growth in Polymer-modified EIFS Product Segment: In contrast, the Polymer-modified EIFS product segment is foreseen to experience rapid expansion over the next decade, exhibiting a high growth rate throughout this period.

Competitive Landscape:

• Adex Systems,
• BASF SE,
• Dryvit Systems,
• Durabond Products,
• Durock Alfacing

International are some of the leading EIFS producers operating in the global market. These businesses are leading participants in the EIFS industry while new participants are mainly focused on marketing initiatives to strengthen their positions.

Recent Developments:

An important advancement in the field of EPS rigid foam insulation was the launch of Neopor BMB by the BASF SE in June 2022. Neopor BMB delivered extra sustainability benefits in addition to Neopor’s standard features at the American Institute of Architects, or Conference on Architecture in Chicago, Illinois. This new insulation solution produced 60% fewer CO2 emissions in comparison to standard foam plastic insulation, which is its most important sustainability attribute.

Owens Corning’s acquisition of Natural Polymers, LLC in January 2022 has increased its skills and offering in the insulation sector. The Cortland, Illinois-based Natural Polymers Company specializes in producing spray-applied polyurethane foam insulation for use in construction and building projects. Now Owens Corning provides clients with a wide selection of insulating products and solutions by leveraging the knowledge and technology of Natural Polymers.

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Key Segments Profiled:

By Product Type:

• Polymer Based
• Polymer Modified

By Insulation Material:

• Expanded Polystyrene
• Mineral Wool
• Other Insulation Materials

By End User:

• Residential
• Non-residential

By Region:

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

Author By:

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.

Explore this report from different publication

Exterior Insulation and Finish Systems Market@ https://www.globenewswire.com/en/news-release/2023/06/13/2687479/0/en/The-Exterior-Insulation-Finish-Systems-EIFS-Market-is-expected-to-hit-US-235-6-Billion-at-CAGR-of-10-2-by-forecast-period-2033-end-Future-Market-Insights-Inc.html

About Future Market Insights (FMI):

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.

Contact Us:

Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
LinkedIn | Twitter | Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com

The Dual Axis Solar Trackers Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the Dual Axis Solar Trackers market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for Dual Axis Solar Trackers. 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.

The Dual Axis Solar Trackers Market is currently experiencing substantial growth, driven by increased government emphasis on renewable energy sources and the growing adoption of solar photovoltaic (PV) installations. Governments worldwide are redirecting their focus toward sustainable energy solutions, leading to a significant rise in demand for dual-axis solar trackers. These advanced tracking systems effectively enhance energy generation by dynamically aligning solar panels with the precise path of the sun, thereby optimizing solar exposure throughout the day.

Projections indicate that the global dual-axis solar tracker market is poised to reach a valuation of approximately US$ 6.3 billion by 2023. This growth can be attributed to the growing awareness of renewable energy sources, serving as a key driver for market expansion. Furthermore, estimations suggest that the market will achieve a total value of US$ 24.8 billion by 2033, reflecting a noteworthy compound annual growth rate (CAGR) of 14.8% from 2023 to 2033.

The increasing government focus on renewable energy sources, coupled with the rising deployment of solar PV systems, serves as significant catalysts for the upward trajectory of the dual-axis solar trackers market. Demonstrating their effectiveness, these dual-axis solar trackers are increasingly being embraced in large-scale solar power projects on a global scale. Their ability to yield higher energy output per unit of installed capacity makes them exceptionally well-suited for utility-scale installations and commercial solar farms.

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The surge in energy demand has led to an increased need for augmented electricity production. Within this context, the adoption of dual-axis solar trackers is experiencing a significant upswing, especially in extensive solar projects. The increased deployment of these trackers, along with their advanced tracking algorithms, sensor integration, and control mechanisms, has greatly improved their precision and operational efficiency. These technological advancements have also resulted in enhanced reliability, cost efficiency, and seamless integration capabilities for dual-axis solar trackers. This positive trend is expected to drive substantial market growth in the foreseeable future.

The North American region has emerged as a prominent hub for ongoing technological innovation, playing a key role in the development of dual-axis solar tracker systems. These innovations have been instrumental in boosting energy output levels and strengthening system reliability. Consequently, dual-axis trackers have become an increasingly attractive option for solar projects in the region.

Key Takeaways:

• The period from 2018 to 2022 experienced a substantial surge in demand for dual-axis solar trackers, demonstrating an impressive Compound Annual Growth Rate (CAGR) of 8.8%.
• When categorized by type, the single-axis segment exhibited remarkable growth, contributing significantly to a CAGR of 14.4%.
• An in-depth analysis based on application reveals that the utility segment is poised for substantial expansion, with a projected CAGR of 14.1% throughout the forecast duration.
• The North American region is strategically positioned to emerge as a promising market for dual-axis solar trackers, boasting an anticipated CAGR of 14.7%.
• Projections indicate that the dual-axis solar tracker industry in the United Kingdom is progressing steadily towards a significant milestone, expected to reach a valuation of US$ 1 billion by the year 2033.
• Meanwhile, the dual-axis solar trackers market in South Korea is predicted to achieve substantial market revenue of US$ 1.3 billion by 2033.
• The Asia Pacific region presents itself as an opportunistic market with an estimated CAGR of 14.6% during the projected forecast period.

 “Increased power demand globally and increasing technological innovation are expected to drive the market in the forecast period. The supportive government policies and increased use of renewable energy sources play a vital role in strengthening the market” – comments a lead analyst at FMI.

Competitive landscape:

• Soitec,
• First Solar, Inc.,
• Reutech Radar Systems,
• Targray Technology International Inc.
• Trina Solar Co. Ltd.

among others are some of the market players operating in the dual-axis solar tracker market.

• SunPower: Renowned solar energy enterprise with a notable presence in the dual-axis solar tracker sector.
  • Offers sophisticated dual-axis trackers seamlessly integrated with its premium high-efficiency solar panels.
  • Tracker systems meticulously engineered to optimize energy yield and elevate overall system efficiency.
  • SunPower’s foray into the dual-axis solar tracker domain bolsters the industry with proven expertise and credibility.
• Arctech Solar: Prominent global manufacturer specializing in solar tracking and racking systems.
  • Recognized for its provision of dual-axis trackers celebrated for exceptional precision and dependable performance.
  • Extensively engaged in large-scale solar ventures across the globe, delivering tailored dual-axis tracking solutions for maximal energy production.

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Know More about this Market Report:

Future Market Insights offers an unbiased analysis of the global dual-axis solar trackers market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the dual-axis solar trackers market, the market is segmented based on type and application across five major regions.

Key Segments:

By Type:

• Single Axis
• Dual Axis

By Application:

• Utility
• Non-Utility

By Region:

• North American
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa

Explore this report from different publication

Dual axis solar tracker Market@ https://www.globenewswire.com/en/news-release/2023/06/08/2684474/0/en/The-Dual-Axis-Solar-Tracker-Market-is-projected-to-reach-a-valuation-of-US-24-8-Billion-by-2033-exhibiting-a-significant-CAGR-of-14-8-from-2023-to-2033-Future-Market-Insights.html

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