Market Research Blog – Page 3572 – New Product Development

Microcrystalline Cellulose: The Multifunctional Powerhouse Ingredient – Tap into Rising Demand Across Industries

Microcrystalline cellulose (MCC) is known as a robust plant-derived ingredient consisting of remarkable functional properties that accurately suit its industrial applications such as a binder, thickening agent, filler, anti-cracking agent, fat replacer, disintegrate, emulsifying agent, absorbing agent, and many more.

The global microcrystalline cellulose market is poised for substantial growth prospects, projected to achieve a notable CAGR of 6.3% from 2023 to 2033, reaching a market value of US$ 1,794.1 million by the end of the forecast period, up from US$ 974.7 million in 2023. This anticipated growth is largely driven by escalating demand across various end-use industries worldwide. Notably, the market’s momentum has surged compared to its previous sluggish performance, with a CAGR of 4.9% witnessed during the historic period from 2018 to 2022.

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Although the demand from the pharmaceutical industry grew significantly after 2020 as it is a common excipient used in tablet formulations. Microcrystalline cellulose is primarily utilized in pharmaceuticals and food & beverage industries. These industries are likely to account for more than 50% of the consumption of the global market.

The aforementioned functional properties of MCC make it a good fit as an ingredient in manufacturing several other products like cosmetics and personal care, paints and coatings, detergents, dye absorbers, rubber, etc. Among numerous end-use industries, the pharmaceutical industry is predicted to showcase steady growth over the next few years.

Report Highlights

The widespread demand for microcrystalline cellulose is anticipated to be fueled by pharmaceutical industries. MCC is used as an excipient in pharmaceutical drug formulation owing to its binding, disintegration, gliding, dilution, and carrier applications. Specifically, from 2020 onwards, the demand for drugs and medicines witnessed a significant surge due to which the subsequent demand for MCC hiked from pharmaceutical drug manufacturers.

The food & beverage industry is rapidly adopting new plant-based ingredients in packaged food products. This trend will drive the consumption of microcrystalline cellulose over the next few years. Furthermore, the rising investment in developing numerous grades of microcrystalline cellulose is a key trend in recent years.

Major players within the developed market are heftily investing in innovations to capture the untapped potential applications of MCC in consumer products. Apart from this, Asia-Pacific market participants are investing in expanding their production facilities to meet the rising market demand. As a cumulative impact of these developments, the global microcrystalline cellulose market will thrive through the projection period.

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Recent Developments

Food & beverage applications of microcrystalline cellulose have witnessed a significant demand in recent years. Traditionally, it has been utilized as a thickening and emulsifying agent, binder, filler, and anti-cracking agent in several foods such as bakery products, meats, dairy, and seafood products.

MCC is known as an excellent alternative to fats. Since, it is derived from plants, the usage of MCC in the food & beverages industry is anticipated to propel due to the growing preference for plant-based products from consumers in near future.

Besides this, several research and innovations in recent years have shown that MCC can act as a soil conditioner and agrochemical in the agricultural industry, density controller and flowability enhancer in detergents, adhesive in general industries, substitute in rubber production, and absorber in dye industries. These applications and many more are expected to facilitate opportunities for MCC in industrial applications.

Microcrystalline cellulose (MCC) is optimally derived from wood pulp which accounts for a prominent portion of the overall production of MCC. It needs plenty of tree wood obtained by cutting natural resources like forests. This process poses a lot of environmental challenges and restrictions from the governments. Hence, the wood-based production of MCC is being replaced by other natural resources like cotton crops, bamboo farming, corn, banana, and soybean crops, etc.

Competitive Landscape

Prominent players operating in the global microcrystalline cellulose market acquire a crucial share of the industry. The threat of new entrants is low because of the initial capital investment in establishing the production lines.

Knowing the significant demand from end-use industries, the market players are looking to expand their production capacities along with new supply chain developments to enter into emerging markets. A few leading players also invest in research and development to introduce new applications and product grades of microcrystalline cellulose in the market.

DuPont de Nemours, Inc, Asahi Kasei Corporation, DFE Pharma, J. RETTENMAIER & SÖHNE GmbH + Co KG, Accent Microcell Pvt. Ltd., Foodchem International Corporation, Mingtai Chemical Co., Ltd, Sigachi Industries Pvt. Ltd., Chemfield Cellulose, NB Entrepreneur, Anhui Sunhere Pharmaceutical Excipients Co., Ltd., Roquette Frères S.A., Libraw Pharma, Ankit Pulps and Boards Pvt. Ltd, Pharmatrans Sanaq AG, Wei Ming Pharmaceutical Mfg Co. Ltd, Sixring, and RanQ are the leading manufacturers of the microcrystalline cellulose market.

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More Insights into the Microcrystalline Cellulose Market

Surging demand for microcrystalline cellulose from end-use industries has made the USA a leading country in the global market. The USA has a well-developed food & beverages industry which will primarily be driving the market in the forecast period owing to the rising trend of plant-based food products.

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Capitalize on the Growing Water Treatment Market: Ferric Sulphate & Polyferric Sulphate Projected to US$ 526.7 Million by 2028

The ferric sulphate and polyferric sulphate market are poised for steady growth, anticipating a year-over-year increase of 4.4% in 2022, reaching an estimated value of US$ 425.7 Million. Future Market Insights (FMI) foresees continued expansion, projecting a global market value of US$ 526.7 Million by the end of the forecast period. This positive trajectory is fueled by heightened demand for water treatment solutions in municipal and industrial sectors. The market benefits from advancements in manufacturing processes and a growing awareness of environmental sustainability, both contributing to its sustained growth.

Ferric sulphate and polyferric sulphate are chemical compounds that play vital roles in various industries and water treatment applications. These iron-based coagulants have gained significant importance due to their efficient and cost-effective properties. As global concerns about water quality and pollution increase, the demand for these compounds is expected to experience substantial growth in the coming years.

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Ferric Sulphate (Fe2(SO4)3) and Polyferric Sulphate (PFS) are iron-based coagulants used primarily in water treatment processes. They are derived from iron-rich ores and are widely available as either liquid or solid forms. These compounds are known for their excellent coagulation and flocculation properties, making them highly effective in removing impurities, suspended particles, and contaminants from water.

According to the key outcomes of this research on the ferric and polyferric sulphate market, the high rate of global industrialisation is resulting in an increase in water contamination. With the increasing awareness in developing countries about water conservation and reuse, governments in these economies are enforcing stringent regulations for proper treatment of sludge.

As a result, it has been made mandatory for industries to treat sludge before disposal. Ferric and polyferric sulphate works as a major water treatment chemical and growth in demand is expected to spur in the near future.

Competitive Landscape

Some of the key players mentioned in the report are

Pencco, Inc.
Altivia Chemicals, LLC
Kemira Oyj
Chemifloc Limited
Hunan Yide Chemical Co., Ltd.
Lubon Industry Co., Ltd.
Chemtrade Logistics Inc.
Clinty Chemicals
Henan Aierfuke Co. Ltd.
Airedale Chemical
BAUMINAS Group

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Municipal and Domestic to be Dominating End Use Sector

The Municipal & Domestic sector is expected to represent a market attractiveness rating of 5.0 and be a relatively attractive market segment during the forecast period. This segment is expected to account for over 25% market share both in terms of value and volume during the forecast period.

This is a result of increasing efforts towards water conservation activities by industry bodies, municipal corporations and environmental associations. Various regulations have been formed by environmental agencies and government authorities, which aim to achieve water conservation and reduce water pollution.

Sludge treatment is an integral part of such activities. During the forecast period, new water and sludge treatment facilities are expected to come up across the globe, which is anticipated to drive the consumption of sludge treatment chemicals across respective regions. With such trends prevailing in the world, the municipal and domestic sector is expected to reach a market value of over US$ 526.7 Mn by the end of 2027, growing at a CAGR of 4.4% during the forecast period.

APEJ and Latin America to Closely Compete in Terms of Growth Rate

Due to the expansion of key players and the presence of a large number of companies in the Chinese market, APEJ is expected to be the most attractive regional market for ferric and polyferric sulphate during the forecast period. APEJ is expected to witness the largest market size of over US$ 160 Mn by the end of 2027, growing at a CAGR of 5.3% during the forecast period.

Other than APEJ, Latin America and Eastern Europe are also expected to be lucrative regions with Latin America CAGR by Value 4.5%. This growth can be attributed to the rising demand for clean water in Brazil, Mexico and other parts of Latin America.

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Energy Efficiency & Sustainability Drive Industrial Pipe Insulation Materials Market CAGR 4.1% by 2028

The global industrial pipe insulation material market is projected to witness substantial growth, with revenues surpassing US$ 1,800 million by 2028. This growth is anticipated to be driven by a compound annual growth rate (CAGR) of 4.1% during the period spanning 2022 to 2028. Factors such as increasing demand for energy efficiency and stringent regulations regarding industrial safety are expected to fuel the expansion of the market during the forecast period.

Growing focus on reduced energy conservation and greenhouse gas emission, coupled with multiple government initiatives promoting energy efficiency and sustainable development through advanced insulation technologies, is expected to favor the growth of the global industrial pipe insulation material market. Use of recycled insulation materials is trending the market at present, owing to rising environmental concerns. A majority of manufacturers are focusing on using sustainable materials such as polyurethane foam and fiberglass.

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With growing awareness about the advantages offered by mechanical insulation in recent years, resulting in increasing adoption by industries worldwide. Industrial pipe insulation constitutes a crucial part of the mechanical insulation industry, which is also witnessing steady growth since recent past.

Industrial pipe insulation market includes pipe insulation adopted by process industries, refineries, thermal power plants, refrigeration and HVAC applications, and food processing units. Growth of industrial activity strongly impacts the demand for pipe insulation materials worldwide, as insulation systems play a critical role in safeguarding system’s performance in various end-use spheres. Furthermore, increasing energy cost also proves to be an important factor impacting the growth of industrial pipe insulation material market.

Energy conservation equates to reduced energy costs, which in some cases amounts to several hundred dollars (in savings) per annum. As a result, insulation is expected to become even more significant, resulting in higher adoption by a number of industries, including oil & gas, energy generation, chemical, and food & beverages, among others.

Upsurge in Material Innovation & Increase in Old Pipe Replacement to Create Lucrative Opportunities

Surge in replacement of aged pipes, in addition to growing innovation in materials used in insulation of industrial pipes, will reportedly create attractive opportunities for manufacturers in near future. Lack of proper insulation leads to significant energy loss, eventually resulting in additional costs to businesses. The amount of energy lost through improperly insulated pipes can be 10x the energy that can be potentially delivered through them. Moreover, unchecked damages in aged pipelines lead to leakages, resulting in loss of materials.

Also, decoration of pipe insulation along with pipes contributes to an increase in energy loss, further contributing to environmental pollution. Manufacturers are focusing on the development of anti-corrosive and anti-abrasion materials, sustainable and eco-friendly materials, and energy saving and cost effective materials.

Moreover, companies are expected to introduce various insulation materials, which can offer thermal resistance, prevent pinhole leaks, reduce carbon footprint, provide UV resistance, and protect against fungal infections.

Manufacturers are foreseen to target high-potential markets such as Asia Pacific, and strengthen their foothold in regions such as Europe and North America.

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Top Key Players in the Industrial Pipe Insulation Materials Market

Rockwool International A/S
SAINT-GOBAIN
Armacell International S.A
Owens Corning Insulating Systems, LLC
Knauf Insulation
Kingspan Group plc
Johns Manville Corporation
ContiTech AG
Dyplast Products Llc
ITW Insulation Systems
BASF SE
Huntsman
Aeroflex USA, Inc
L’ISOLANTE K-FLEX S.p.A
Shanghai ABM Rock Wool Co., Ltd

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Exploring Growth Factors in the Used Restaurant Equipment Market

The used restaurant equipment market is valued at US$ 6664.2 million as on 2023. The market is projected to expand at a CAGR of 7.2% during the forecast period, and is expected to reach a valuation of US$ 13356.6 million by 2033.The market had a valuation of US$ 6234.1 million in 2022.

The target audience for the used restaurant equipment market would certainly be the SMEs. On that note, it has been observed that the SME’s that are mainly into cookie production, and those dealing with popcorn manufacturing are making use of the used kitchen equipment.

Apart from that, the street food vendors are also making use of the used restaurant equipment and the used catering equipment because of the ease of use coupled with the affordability factor that is associated with the used restaurant equipment.

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Growth Factors

The surge in population growth, coupled with a heightened emphasis on healthy eating habits, has sparked a notable uptick in the establishment of eateries and various food service outlets. As consumers become increasingly discerning about their dietary choices, there’s a growing demand for restaurants that offer nutritious and wholesome meals. This trend is not only driven by an expanding populace but also by evolving consumer preferences towards healthier dining options.

Moreover, there has been a significant shift away from the use of single-use disposables such as paper plates and plastic cups. This transition is attributed to a collective awareness and commitment towards sustainability and environmental conservation. Consumers are now gravitating towards more eco-friendly alternatives like reusable utensils, biodegradable containers, and compostable packaging materials. This shift reflects a broader societal movement towards reducing waste and minimizing the ecological footprint associated with food consumption.

Kitchen appliances continue to dominate the landscape of the used restaurant equipment sector, accounting for over 41% of industry profits.

In the past decade, sales of kitchen appliances have surpassed those of dining room sets and home appliances, reflecting shifting consumer preferences towards convenient and efficient food service solutions. This trend is fueled by the growing demand for quick, healthy, and eco-friendly dining options. Among kitchen appliances, cookware emerges as a particularly popular category, catering to diverse culinary needs and preferences.

Top of Form

Competitive Landscape:

The key players operating in the market are developing equipment that are specifically designed for SMEs. These come with affordable pricing, and at the same time ensure that the equipment provide almost all the functionalities that are being provided by the high-end segments.

Apart from that, the focus also remains on mergers and acquisitions. The reason is to expand the market, and ensure that they enjoy being the dominant forces in the market.

In September 2022, Rose’s Equipment mentioned the benefits of AccuTempProducts Evolution Steamer which requires no water filtration and steamer.

Key Companies Profiled

Machineseeker Group GmbH
iFoodEquipment.ca
Bid on Equipment
Texas Restaurant Supply
Lauro Restaurant Equipment
Gillette Restaurant Equipment
Alternative Sales Corp
SilverChef
March Quality
Central Products LLC
Rose’s Equipment

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Yogurt and Probiotic Drinks Market Soars: A 7.6% CAGR Journey to US$ 197 Billion by 2024, Fueled by Health-Conscious Consumers and Innovative Manufacturers

By 2024, the market for yogurt and probiotic drink market is projected to reach $197 billion, expanding at a steady 7.6% annual rate. Growing consumer interest in wholesome, energy-boosting meals like yoghurt is the main driver of this growth. Growing consumer understanding of nutrition and good diets has led to a preference for these products, which emphasise gut health and digestion.

Forecasts indicate that the global market for probiotic drinks and yoghurt is anticipated to develop at a compound yearly growth rate of 7.6% to reach a value of US$ 197,014.2 million in 2024. The global market is expected to be worth US$ 209,660.3 million by 2034.

Yoghurt and probiotic drinks are becoming more and more popular as a result of manufacturers focusing on luxury products to support consumers’ healthy lives. Because yoghurt and probiotic drink manufacturers are listening to what consumers want—fit, non-alcoholic beverages—yogurt and probiotic drinks are growing in popularity. The market is expanding due to the demand for products that promote intestinal health and enhanced immune function as well as the appeal of yoghurt drinks.

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Manufacturers innovate cost-effective, natural, and high-quality drinks and are increasingly adopting yogurt and probiotic drinks. Consumers looking for fresh, organic, eco-friendly packaging solutions are increasing the demand for yogurt and probiotic drinks. Manufacturers offer lactose-free and organic ingredients drinks to improve consumers’ digestion and boost their energy.

Increasing advanced technology, infrastructure, and food sectors are rapidly fueling the global market size. Food manufacturers add natural ingredients, plant-based additives, and natural flavors to attract consumers and enhance their sales volume. They are focused on offering no-sugar drinks for their consumers to maintain their diet plan and reduce toxicity.

Companies are looking for low-calorie, high-nutrient, and vitamin drinks to maintain their strength and energy, capturing consumers’ desire for yogurt and probiotic drinks. These manufacturers are enhancing their packaging style to catch consumers’ eye on their products. They advertise their products with simple and sustainable packaging, gaining vast popularity in the market.

“Food manufacturers continue to innovate delicious beverages to their consumers through their unique technologies and brilliant ideas. These innovations are widely captured among consumers desire are significantly drive the market size,” Says Lead Analyst at FMI.

Key Takeaways:

Theyogurt and probiotic drink market is registering a CAGR of 7.6% between 2024 and 2034.
The United States is expected to register a CAGR of 6.3% by dominating the global market by 2034.
Germany is anticipated to capture a CAGR of 7.6% of the global market during the forecast period.
The United Kingdom is anticipated to register a CAGR of 8.9% in the global market in 2034.
China significantly drives the global market with a CAGR of 7%.
With a CAGR of 9.4%, India is rapidly advancing globally.
The yogurt drink category is estimated to lead the global market during the forecast period.

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Competitive Landscape:

The global market is highly fragmented by present players that innovate cost-effective and high-quality products for their consumers to boost their health. They are heavily investing in research activities to develop unique texture drinks and beverages to maintain consumers’ immune systems. They are upsurging the market to another height through various tactics and strategies.

Key players promote their products on exhibitions, festivals, trade shows, and online platforms to capture vast audiences. They are focused on consumer feedback and fill gaps according to their requirements. These players can solve their issues through better ideas and innovations to expand market opportunities. Key players are likely to build their goals in the coming period through their exotic flavor drinks and sustainable options.

Key Segments Covered in Yogurt and Probiotic Drink Market

By Product Type:

Yogurt Drink
Juice
Water
Kefir
Others

By Source Type:

Dairy-based
Plant-based
Water-based

By Region:

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

About Future Market Insights (FMI)

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

Contact Us:

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

Shift Gears with AI: Artificial Intelligence (AI) in Automotive Market Set to Surge at 55%, Reaching US$ 744.39 Billion by 2033

The Artificial Intelligence (AI) in automotive market is anticipated to record a robust CAGR of 55% between 2023 and 2033. The market is anticipated to cross a market share of US$ 9.3 billion in 2023, while it is expected to be valued at US$ 744.39 billion by 2033.

Advanced vehicles with self-driving and fully autonomous transmissions are in high demand. Hence, the AI-integration vendors are working on personalized solutions, fueling the demand for Artificial Intelligence (AI) in automotive.
The rising demand for EVs and hybrid vehicles is followed by the integration of AI units, as they enhance the operational capability, deliver ease, and protect the vehicle through systems like parks-guided systems.
The Advanced Driver Assistance Systems (ADAS), level 2, is getting popular among automotive enthusiasts, which further extends the research and development of ADAS integration.
The new car builders are delivering OEM-based AI chips that work on different functions of a vehicle. From AC, lights, and cruise control to guided parking and autonomous driving systems, AI supports each component.
The restoration of the automotive industry, coupled with the high-end AI and machine learning set-up, is fueling the demand for Artificial Intelligence (AI) in automotive. Advanced automatic emergency braking is regulated through AI chips.
The passive and active safety systems are specially designed to prevent human error while operating vehicles.

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Key Points

The United States market is another significant market. The market growth is attributed to the presence of EV giants like Tesla, which delivers advanced AI and ML integration. The increased acceptance of autonomous and self-driving vehicles is fueling the sales of AI in the automotive
Artificial intelligence (AI) in the automotive market in China is another significant market. The growth is attributed to the expanded manufacturing units, high-end research, and advanced experimentation.
Europe with its environmental compliance adopts EVs and Hybrid Vehicles, which further fuels the demand for AI-integration prospects.
The software segment is likely to thrive in the component category due to the common application and automotive implementation. It is expected to hold a value of US$ 200 billion by 2033.
The fully autonomous segment tops the application category with an anticipated value of US$ 30 billion by 2033. The growth is attributed to the advent of self-driving assistance systems.

Competitive Landscape

The key competitors focus on inclusivity, while adding sensors and smart software to enhance the guided systems. Companies follow the artificial intelligence innovation with the key competitors and merge, acquire, and partner with other companies to increase the network range, connectivity, supply chain, and distribution channel. The key players in the market are: BMW AG, AUDI AG, Intel Corporation, Tesla Inc, Uber Technologies, Volvo Car Corporation, Honda Motors, Ford Motor Company, NVIDIA Corporation, and Tencent

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Recent Market Developments

Ford Motor Co is the leading patent filer when it comes to the neural network for radar-LiDAR. The company operates with Baidu in China to implement AI technology in automotive.
A technology company, Aptiv is promoting enhanced automated vehicles that are loaded with AI-based sensors, cameras, and other components.

Key Segments

By Component:

Hardware
Software
Services

By Technology:

Computer Vision
Context Awareness
Deep Learning
Machine Learning
Natural Language Processing (NLP)

By Process:

Data Mining
Image/signal Recognition

By Application:

Semi-autonomous vehicles
Fully-autonomous Vehicles

By Region:

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

Author

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

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

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

About Future Market Insights (FMI)

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

Contact Us:

Nandini Singh Sawlani

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

Fueling the EV Revolution: Capitalize on the Surging US$ 122.8 Billion EV Charging Station Market

In 2018, the global EV charging station market had sales of US$ 3.8 billion. In 2022, the market expanded by 52.4% year over year. In 2023, it’s projected to generate US$ 22.9 billion in sales. The market for EV charging stations worldwide is anticipated to surge at a CAGR of 18.3% between 2023 and 2033. By 2033, a market worth US$ 122.8 billion is predicted.

The European Union (EU) was the primary inspiration behind the Alternative Fuel Infrastructure Directive (AFID) regulation, which was widely embraced outside its borders. It supports installing public EV charging stations, with a suggested capacity of 1 kilowatt (KW) per vehicle.

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The policy change is anticipated to accelerate the switch from slow, low-capacity chargers to faster, higher-capacity substitutes, significantly lowering EV charging times. Additionally, quicker charging stations can improve accessibility, resulting in higher engagement and potential financial gains for charging station owners.

Operators of EV charging stations are carefully integrating on-site wind and solar power installations as the primary energy sources. This environmentally friendly strategy is planned to guarantee continuous operation while keeping the grid connected.

These charging stations might become completely self-sufficient when EV charging demand matches the capacity of these renewable energy sources. The extra energy produced during periods of low demand can be stored by users for later use or fed back into the system for credits.

Additional power needed for charging at times of high demand can be effortlessly drained by users from the grid upon focused updates. This flexible approach could improve resource efficiency, reduce overhead, and improve grid stability. Charging stations will likely enhance their environmental credentials and financial viability by effectively controlling energy generation, consumption, and distribution.

The need for EV charging stations is anticipated to rise as autonomous charging robots and wireless charging technology becomes more widely adopted throughout Asia Pacific. EV owners might benefit significantly from inductive technology or wireless power transfer (WPT).

Owners of EVs wouldn’t need to plug their cars in, which would make it easier for them to charge them in crowded urban locations. This technology might force more people to purchase electric vehicles in densely populated cities.

Key Takeaways from the EV Charging Station Market Study

The global EV charging station industry stood at a valuation of US$ 19.5 billion in 2022.
China is projected to expand at a CAGR of 17.8% in the EV charging station industry from 2023 to 2033.
The EV charging station industry in Germany is estimated to reach US$ 2,577.1 million in 2023.
The United Kingdom is projected to showcase a robust CAGR of 18.5% in the forecast period between 2023 and 2033.
The private charging station segment by supplier type is expected to generate a market share of 97.7% in 2023.

“Investments in smart charging infrastructure and rapid charging infrastructure are anticipated to improve accessibility and convenience for EV users. Collaborations between automakers and providers of the infrastructure for charging are likely to stimulate industry growth.” – says a lead analyst at Future Market Insights (FMI).

Competitive Landscape

Competitive innovation and deliberate diversification among market leaders define the EV charging station industry’s competitive environment. Companies such as Tesla, Schneider Electric SE, BYD, and ABB are striving for market supremacy in EV charging stations.

They are achieving this through enlarging the world’s charging networks, accelerating charging rates, and putting money into the integration of smart grids. Additionally, agreements with automakers and the development of infrastructure are crucial components of their business plans.

The EV charging station market is anticipated to mature more by 2033. Hence, it is projected that maintaining a competitive edge will mainly depend on an organization’s capacity to stand out through initiatives promoting greater service quality, user-friendliness, and sustainability. These could facilitate the sector’s continued expansion in more ways than one.

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Key Companies Profiled

Tesla Inc.
BYD
ABB
Schneider Electric SE
Robert Bosch GmbH
Siemens AG
Webasto
General Electric
Delta Electronics
Wallbox
Efacec
Star Charge

EV Charging Station Market Outlook by Category

By Charging Station:

AC Charging Station

1 kw to 11 kw
11 kw to 43 kw

DC Charging Station

20 kw to 50 kw
50 kw to 150 kw
150 kw to 250 kw
>250 kw

By Ownership Model:

Highway Charging
Destination Charging
Workplace Charging
Parking Lots
Fleet Charging Station
Residential Charging Station

By Supplier Type:

OE Charging Station
Private Charging Station

By Installation:

Portable
Fixed

By Region:

North America
Latin America
Western Europe
Eastern Europe
Central Asia
Russia & Belarus
Balkan & Baltics
East Asia
South Asia & Pacific
Middle East & Africa

About the Author

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

About Future Market Insights (FMI)

Future Market Insights, 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.

Contact Us:

Nandini Singh Sawlani

Future Market Insights Inc.
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Surgical Techniques: The Engine of Cryotherapy Market Growth – Reaching US$ 14.1 Billion by 2033

As per the latest analysis report on the global cryotherapy market demand by Future Market Insights, the market is poised for significant growth. With a projected compound annual growth rate (CAGR) of 11.2%, the cryotherapy market is expected to reach a valuation of US$ 4.9 billion by the year 2023, and by 2033, it is forecasted to expand substantially, reaching an estimated worth of US$ 14.1 billion. Notably, the surgical applications segment is anticipated to be the leading revenue generator, with an expected CAGR of approximately 11.6% from 2023 to 2033.

The Cryotherapy Market refers to the industry involved in the development, manufacturing, and distribution of cryotherapy products and services. Cryotherapy, also known as cold therapy, involves exposing the body or specific body parts to extremely cold temperatures for therapeutic purposes.

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Cryotherapy is used in various medical, wellness, and beauty applications. It is commonly used for pain management, injury recovery, and inflammation reduction. The treatment involves using cryogenic chambers or localized devices that emit extremely cold temperatures, typically using liquid nitrogen or refrigerated air.

The global cryotherapy industry demand has witnessed significant growth in recent years, driven by several factors, including increased awareness about the benefits of cryotherapy, growing demand for non-invasive treatments, and advancements in technology. The market has also expanded due to the rising popularity of cryotherapy in sports medicine market demand the treatment of chronic conditions such as arthritis.

Key Takeaways Cryotherapy Market:

The Cryotherapy market refers to the industry related to the use of cryotherapy, a medical treatment that involves exposing the body to extremely cold temperatures for therapeutic purposes. Here are some key takeaways about the Cryotherapy market:

Market Growth: The Cryotherapy market has been experiencing significant growth in recent years. The increasing adoption of cryotherapy for various medical conditions and the rising demand for minimally invasive procedures are driving market expansion.
Medical Applications: Cryotherapy is used in the treatment of various medical conditions, including musculoskeletal disorders, skin conditions, pain management, and recovery from injuries. It is also used in certain surgical procedures.
Sports and Fitness: Cryotherapy has gained popularity among athletes and fitness enthusiasts for its potential benefits in enhancing performance, accelerating muscle recovery, and reducing inflammation. This segment is a significant driver of the Cryotherapy market.
Whole Body Cryotherapy: Whole Body Cryotherapy (WBC) is the most common form of cryotherapy. It involves exposing the entire body to extreme cold temperatures, typically in a cryochamber or cabin, for a short duration. WBC is widely used for its therapeutic and wellness benefits.
Localized Cryotherapy: Localized cryotherapy involves applying cold temperatures to specific body parts or areas. It is commonly used for targeted pain relief, reducing inflammation, and promoting healing in localized areas.
Increasing Adoption in Aesthetics: Cryotherapy is gaining popularity in the aesthetics industry for its potential benefits in skin rejuvenation, tightening, and reducing the appearance of cellulite. Cryo facials and cryolipolysis (fat freezing) are some of the aesthetic applications of cryotherapy.
Technological Advancements: The Cryotherapy market is witnessing advancements in technology, such as the development of advanced cryotherapy equipment, improved safety features, and automation of treatment processes. These advancements contribute to the market’s growth and enhance treatment outcomes.
Regional Market: The Cryotherapy market is geographically diverse, with North America, Europe, and Asia Pacific being key regions. North America has traditionally been a leading market, followed by Europe. However, the Asia Pacific region is expected to witness significant growth due to increasing awareness and adoption of cryotherapy.

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Top Companies in the Cryotherapy Market:

AstraZeneca Plc.
Addgene
Caribou Biosciences
Boston Scientific Corporation
Brymill Cryogenic Solutions
Stryker
Cryoalfa

With an extensive SWOT analysis, the FMI’s study presents the strengths, weaknesses, growth prospects and challenges of each player. The report also includes important data including the sales strategy, pricing strategy, and Marketing strategy adopted by these players in the Cryotherapy Market

Cryotherapy Market: Segmentation

By Device Type:

Cryo Probes
Cryogen
Gas cylinders
Localized Cryotherapy devices
Cryochambers and Cryosaunas
Other device types

By Therapy Type:

Cryosurgery
Icepack Therapy
Chamber Therapy

By Application:

Surgical Application
Pain Management
Other Applications

By Region:

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

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Author By:

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

Explore FMI’s related ongoing Coverage on Healthcare Market Insights Domain:

Dental Hygiene Instrument Market Size: The global dental hygiene instrument market is expected to expand at a CAGR of 4.6%. The market value is projected to increase from US$ 4,946.2 million in 2024 to US$ 7,747.7 million by 2034.

Cold Relief Roll On Market Share: The cold relief roll on market size is projected to surpass a valuation of US$ 1,156.5 million by 2033. As per the analysis, the cold relief roll on market is likely to record a CAGR of 8.3% through 2033.

Eyelid Scrub Market Demand: According to Future Market Insights research, during the projected period, the global eyelid scrub market is expected to flourish at a CAGR of 6.6%. The market value is projected to increase from US$ 3.4 billion in 2024 to US$ 6.4 billion by 2034.

About Future Market Insights (FMI)

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

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Nandini Singh Sawlani

Mass Spectrometry and DNA Testing Power Isovaleric Acidemia Treatment Market is expected to potentially attain US$ 1,125.15 Million by 2033

The global isovaleric acidemia treatment market demand is expected to be valued at US$ 652.28 Million in 2023 and is projected to reach US$ 1,125.15 Million by 2033, trailing a CAGR of 5.6%. Mass spectrometry development coupled with chromatography has advanced the reliability and efficiency of Isovaleric Acidemia profiling and shows the key structures in medical fields. The bio-information provided by these technologies enables accurate disease diagnostics and the useful clinical ability to manage diseases. The benefits of high sensitivity, highly accurate, and high throughput metabolomics show substantial capability in disease treatment which will drive the market during the forecast period.

Moreover, increasing demand for one-time therapies for metabolic disorders and the rising prevalence of lifestyle diseases are the key factors that are anticipated to boost growth of this market. The increasing product approval by regulatory authorities is anticipated to drive growth of global metabolism drugs market. PYRUKYND is a first-in-class, oral PK activator and the first approved disease-modifying therapy for hemolytic anemia in adults with pyruvate kinase (PK) deficiency disease which will augment the therapeutic market in Isovaleric Acidemia.

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Also, growing research and development for development metabolism drugs is anticipated to drive market growth over the forecast period. However, major factors that hinder growth of the global inborn errors of metabolism market include clinical hold on trials by market players. Moreover, the research in personalized medicine and the continuous development of advanced analytical tools are further supporting the growth of the market across the globe.

Key Takeaways from the Market Study:

North America is expected to dominated the market with a share of 41.8% in 2022.
Asia Pacific is projected to be fastest growing market for Isovaleric Acidemia with a CAGR of 4.9% during the forecast period.
China is estimated to dominate the industry in APAC with a market share of 41% by 2033.
By Treatment type, L-Carnitine supplement is expected to lead the industry with a segment share of 79% during the assessment period.
Adoption of Next gen technologies like Tandem mass spectrometry and Mrna in metabolic testing procedures will lead to market expansion.

“Rising Investments in research and development activities and fast adoption of next generation technologies will bolster the market footprint” -comments an FMI Analyst

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Competitive Landscape:

Key players in the Isovaleric Acidemia Market are:

Amgen
Replimune Group Inc.
Transgene SA
Oncolys BioPharma
Targovax
Lokon Pharma
Vyriad
TILT Biotherapeutics
VCNBiosciences
DNAtrix

Some recent developments in this industry are:

In 2020, Nutricia established a sustainable plant in the Netherlands. The Nutricia Cuijk plant was a massive investment that increased the volume of specialized infant formula and the market’s revenue generation.
In June 2022, Mead Johnson & Company, LLC announced that it had been completely merged with Reckitt Benckiser Group plc (RB). With Reckitt Benckiser plc groups’ good innovation and marketing processes, it was expected that the Mead Johnson brand and business would continue to boom.
On February 17, 2022, Maze Therapeutics, a company translating genetic insights into new precision medicines, announced the initiation of dosing in the company’s Phase 1 clinical trial of MZE001 in healthy volunteers. MZE001, an oral glycogen synthase (GYS1) inhibitor that aims to address Pompe disease by limiting disease-causing glycogen buildup, is being evaluated for the potential oral treatment of patients with late-onset Pompe disease.
On May 15, 2020, Ultragenyx Pharmaceutical Inc., a biopharmaceutical company focused on the development and commercialization of novel products for rare and ultra-rare diseases, announced positive initial data from the confirmatory third cohort and longer-term data from the first two cohorts of the ongoing Phase 1/2 study of DTX401, an adeno-associated virus (AAV) based gene therapy for the treatment of glycogen storage disease type Ia (GSDIa).

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Key Segments Profiled in the Isovaleric acidemia treatment industry Survey:

By Treatment:

L-Carnitine Supplements
Glycine Supplements
Others

By Region:

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

About Future Market Insights (FMI)

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

Contact Us:

Nandini Singh Sawlani

Cargo Bikes Gain Momentum: Market Set to Reach US$ 4.2 Billion by 2033

The global cargo bike market is estimated to attain a valuation of US$ 1.4 billion in 2023 and is expected to accumulate US$ 4.2 billion by 2033, rising at a CAGR of 11.6% during the forecast period.

Cargo bikes have evolved beyond their traditional role in goods delivery and transportation. They now serve as platforms for various mobile services like bike repair, mobile libraries, pet grooming, and healthcare services. These bike-based businesses bring convenience and eco-friendly options to customers, especially in areas with limited accessibility. This trend is expected to drive substantial growth in the cargo bike market in the forecast period.

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Cargo bikes have expanded their utility to include mobile pop-up shops and food trucks. Entrepreneurs are transforming these bikes into cafes, shops, and food trucks, capitalizing on their flexibility and ability to cater to different events, markets, or neighbourhood’s. These mobile ventures stand out with their unique and eco-friendly approach, attracting customers. Consequently, the growing number of mobile pop-up shops and food trucks is driving the development of the cargo bike market.

Government financial assistance plays a vital role in boosting the value of the cargo bike market. Governments worldwide are taking steps to promote sustainable transportation by offering support and incentives for the adoption of cargo bikes.

Governments provide subsidies and grants to reduce upfront costs of cargo bikes, promoting their affordability and accessibility. This encourages individuals, businesses, and organizations to embrace cargo bikes as a practical alternative for urban logistics and transportation. Governments provide tax incentives to encourage the use of cargo bikes, lowering the overall ownership costs and making them appealing to individuals and businesses alike.

Governments are investing in cycling infrastructure, including dedicated bike lanes, parking facilities, and safety measures, to drive progress in the cargo bike market. Additionally, they are conducting awareness and education campaigns to inform the public about the environmental, cost-saving, and health benefits of cargo bikes.

Key Takeaways

United States cargo bike market is expected to grow with a CAGR of 11.2% during the forecast period.
The demand for cargo bikes in Australia is expected to grow with a CAGR of 11.8% during the forecast period.
By propulsion type, electric segment is projected to grow with an impressive CAGR of 12% during the forecast period.
The market in Germany is expected to grow with a significant CAGR of 11.5% throughout the forecast period.

“The expansion of the e-commerce sector and increased demand for last-mile delivery services is expected to drive market growth during the forecast period,” comments an FMI analyst.

Competitive Landscape

The market for Cargo Bike is highly competitive, with numerous prominent industry players making substantial investments in their production.

The key industry players are Jinhua Jobo Technology Co., Ltd., CERO ELECTRIC CARGO BIKES, Worksman Cycles, DOUZE Factory SAS, Carqon (Accell Group N.V.), XCYC (Gemeinnützige Werkstätten und Wohnstätten GmbH ), Riese & Müller GmbH, XYZ CARGO, Butchers & Bicycles ApS, NIHOLA, Babboe, Yuba Electric Cargo Bikes, BODO Vehicle Group Co., Ltd. (LUXMEA), Chongqing Mobimax Technology Co., Ltd., Urban Arrow, Rad Power Bikes Inc., Tern Bicycles (Mobility Holdings, Ltd.), Pedego Electric Bikes, Xtracycle Inc., Amsterdam Bicycle Company, Triobike, Pashley Cycles, Nijland Cycling.

Some recent developments in the cargo bike market are:

In October 2022, Douze Cycles, a French company, introduced a new line of cargo bikes comprising four models, with three of them featuring electric assistance. These bikes offer an impressive hauling capacity of up to 205 kg, making them ideal for heavy-duty transportation needs.
In June 2022, Tern introduced the NBD, a low-step e-bike designed for convenience. With a maximum gross vehicle weight of 140 kg, it boasts a rear rack capable of carrying up to 27 kg and a front rack with a capacity of up to 20 kg.

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Key Segments Profiled in the Cargo Bike Market Industry Survey

By Product Type:

Two Wheeled
Three Wheeled
Four Wheeled

By Propulsion:

Conventional
Electric

By Price:

Below US$ 1,500
US$ 1,500-3,500
US$ 3,501-6000
Above US$ 6,000

By Wheel Size:

Below 20
20-24
26
27.5
Others

By End Use:

Courier & Parcel Service Provider
Large Retail Supplier
Personal Transportation
Service Delivery
Waste, Municipal Services

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

Author

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

About Future Market Insights (FMI)

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

Contact Us:

Nandini Singh Sawlani