Market Research Blog – Page 3575 – New Product Development

Mobile Cranes Market Size: Industry Soars to US$ 29.05 Billion by 2033

The mobile cranes market is expected to develop at a modest CAGR of 6.3% between 2023 and 2033. The market is expected to be valued at about US$ 29.05 billion by 2033, up from US$ 15.77 billion in 2023.

Mobile cranes are versatile lifting machines equipped with a telescopic boom or a lattice boom mounted on a mobile platform, such as a truck or crawler chassis. These cranes are widely used in various industries, including construction, transportation, manufacturing, and infrastructure development, to lift and move heavy materials and equipment.

The mobile cranes industry presents several promising opportunities for manufacturers, service providers, and equipment rental companies. One notable opportunity lies in the increasing demand for eco-friendly, energy-efficient mobile cranes. As sustainability becomes a priority in the construction and logistics sectors, there is a growing need for greener solutions that reduce emissions and enhance operational efficiency. Moreover, the rapid expansion of infrastructure projects, particularly in emerging economies, offers significant growth prospects for mobile crane providers to cater to the construction needs of roads, bridges, buildings, and other critical infrastructure.

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The mobile cranes industry is witnessing several noteworthy trends that shape its landscape and drive innovation. One prominent trend is the integration of advanced telematics and IoT (Internet of Things) technologies into mobile cranes. These technologies enable real-time monitoring of crane operations, remote diagnostics, predictive maintenance, and data analytics for optimized performance and enhanced safety. Additionally, there is an increasing focus on automation and digitalization, with features such as remote-controlled operation, collision avoidance systems, and intelligent load management becoming more prevalent. These trends aim to improve productivity, reduce downtime, and ensure safer lifting operations.

Key Components of Mobile Cranes:

Boom: The boom is the primary structural component of the crane responsible for lifting and lowering loads. It can be telescopic or lattice-type, allowing for different reach and lifting capacities.
Counterweight: Counterweights are installed on the rear of the crane to provide stability and balance when lifting heavy loads. They help prevent the crane from tipping over during lifting operations.
Carrier: The carrier is the mobile platform that supports the crane’s superstructure and houses the engine, controls, and other essential components. It can be a truck chassis or a crawler track assembly, providing mobility and maneuverability on various terrains.
Outriggers: Outriggers are extendable legs mounted on the carrier to enhance the crane’s stability by creating a wider base of support during lifting operations. They are deployed to prevent tipping and ensure safe lifting.
Operator’s Cab: The operator’s cab is where the crane operator controls the crane’s functions, including lifting, lowering, swinging, and extending the boom. It is equipped with controls, instruments, and safety features to facilitate efficient and safe operation.
Hoist and Winch: The hoist and winch systems are responsible for raising and lowering the load attached to the crane’s hook. They consist of electric or hydraulic motors, drums, cables, and sheaves, providing precise control over lifting operations.

What are Key Players Doing to Thrive in the Mobile Cranes Market?

The mobile cranes industry’s competitive landscape is characterized by several key players striving to capture market share and deliver innovative and reliable lifting solutions. These key players compete based on product range, technological innovation, performance, safety features, customer service, and global presence. They strive to deliver reliable and efficient mobile cranes that meet the diverse needs of industries such as construction, infrastructure, oil and gas, and logistics.

Liebherr Group: Liebherr is a renowned manufacturer of mobile cranes, offering a wide range of models with varying lifting capacities. The company’s focus on technological advancements, safety features, and versatility has positioned it as a leading player in the industry.
Terex Corporation: Terex is a global manufacturer of mobile cranes known for its diverse product portfolio, including all-terrain cranes, rough-terrain cranes, and truck-mounted cranes. The company’s emphasis on performance, durability, and customer satisfaction has contributed to its competitive position.
Tadano Ltd.: Tadano is a prominent player in the mobile crane market, specializing in manufacturing hydraulic cranes. The company’s expertise lies in delivering high-quality cranes that combine strength, reliability, and advanced features to meet the diverse needs of customers.
Manitowoc Cranes: Manitowoc is a leading manufacturer of crawlers, tower, and mobile telescopic cranes. The company’s commitment to innovation, technological excellence, and customer-centric solutions has established its presence in the competitive mobile cranes market.
Sany Group: Sany Group is a prominent mobile crane industry player, offering a wide range of lifting solutions. The company’s commitment to quality, safety, and customer satisfaction has earned it a reputable position in the market.

Key Players of the Global Mobile Cranes Market

KATO WORKS CO., LTD.
Kobelco Construction Machinery Co., Ltd.
Hitachi Sumitomo Heavy Industries Construction Crane Co., Ltd.
The Manitowoc Company, Inc.

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Cranes Rental Market Size: The global market is poised for substantial growth, with a projected valuation of US$ 48.8 billion in 2023. This upward trajectory is attributed to several factors, including the surge in demand for rental cranes.

Middle East and Africa Rough Terrain Cranes Market Review: The market was valued at US$ 321.1 million in 2022 and is estimated to grow at a CAGR of 7.3% from 2023 to 2033.

GCC Mini Cranes Market Overview: The market will grow at a CAGR of 5.8%, reaching a valuation of US$ 41.1 Million in 2032.

Truck Mounted Cranes Market Forecast: The global market is expected to reach US$ 2.521 billion by 2023. It is set to exhibit growth at a CAGR of 4.4% between 2023 and 2033.

Crane Aftermarket Growth: The Crane Aftermarket generated market revenue of US$ 7 billion in 2023. The market is assessed to expand at a healthy CAGR of 6% over the forecast period, to attain market revenue of US$ 13.29 billion by 2033.

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Sports Drug Testing Market Racing Towards a US$ 20.6 Billion by 2032

Globally, the sports drug testing industry is expected to be valued US$ 20.6 billion in 2032 and US$ 13.4 billion in 2022. Over the next ten years, it is anticipated that the strict regulations requiring government agencies to conduct drug and alcohol tests will be implemented globally will spur growth.

Drug use is prevalent at all levels of competition and in all sports, with major health effects. Drugs are very addictive and are regularly used to enhance performance. The increased use of performance-enhancing drugs in sports has spurred the expansion of the Sports Drug Testing sector.

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Thus, drug use in sports must be controlled and monitored, which may be done with the use of Sports Drug Testing devices.

WADA (World Anti-Doping Agency) uses Sports Drug Testing technologies to inspect and analyse competitors to identify if they have used steroids before to or during competition. The government’s strict restrictions on the use of some dangerous medications are a major driving force in the growth of the Sports Drug Testing market.

The sporting Drug Testing market is predicted to rise as the government and sporting organisations increase their use of Sports Drug Testing technology. However, various constraints, such as a scarcity of qualified professionals and the lower accuracy of Sports Drug Testing equipment, are impeding market expansion over the projection period.

Sports Drug Testing Market: Drivers and Restraints

The greater use of Sports Drug Testing devices is attributed to a better knowledge of these technologies. Furthermore, numerous sports governing bodies have outlawed the use of performance-enhancing drugs and set severe penalties on those caught using them.

These developments will aid the growth of the Sports Drug Testing industry. The availability of low-cost alternatives to Sports Drug Testing devices, as well as the high cost of Sports Drug Testing devices, may, however, limit the market’s growth throughout the projection period.

Sports Drug Testing Market: Overview

The Sports Drug Testing market is estimated to grow rapidly over the forecast period. To protect athletes from serious health risks and to promote drug-free and fair competition among all competitors, drug abuse prevention in sports is essential.

The core paper of the WADA (World Anti-Doping Agency) covered anti-doping legislation, policies, and regulations in public authorities and sports groups all over the world. It also featured thorough lists of prohibited procedures and substances, privacy guidelines for athletes, and sports drug testing regulations.

Sports Drug Testing Market: Regional Outlook

North America, Latin America, Western Europe, Eastern Europe, Asia Pacific except China and Japan, China, Japan, and the Middle East and Africa make up the global Sports Drug Testing market. Because of the strong fines and restrictions imposed on players who use drugs in sports, North America is expected to have the greatest market share in the global Sports Drug Testing market.

The Asia Pacific Sports Drug Testing market is predicted to grow at the fastest rate with the greatest CAGR during the forecast period due to growing drug abuse instances and less stringent drug use legislation.

Sports Drug Testing Market: Key Players

Some of the key players in the global Sports Drug Testing market are Siemens Healthcare GmbH, Dragerwerk AG & Co. KGaA, JMB Enterprises Inc., Shimadzu Corporation, Thermo Fisher Scientific Inc., Quest Diagnostics Incorporated, Alere, Inc., Lifeloc Technologies Inc., Pz Cormay, Idexx Laboratories and others.

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Key Segments:

By Product Type:

Equipment
Immunoassay Analyzers
Chromatography Instruments
Alcohol Breath Analyzers
Rapid Testing Devices
Urine Testing Devices
Oral Fluid Testing Devices
Consumables
Assay kits
Sample Collection Cups
Others

By Sample Type:

Urine
Blood
Oral Fluid
Breath
Hair
Others

By End User:

Hospitals
Government Departments
Drug Rehabilitation Centers
Pain Management Centers
Drug Testing Laboratories
Others

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.

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:

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Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705

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Unveiling the Landscape of the India Loyalty Program Market Surge to US$ 14,502.6 Million by 2033 | FMI

The India loyalty program market is estimated to top nearly US$ 3,363.4 Million in 2023 and is projected to reach US$ 14,502.6 Million by 2033, at a CAGR of 15.7% from 2023 to 2033. The Indian loyalty program market holds approximately 4% to 8% of the global loyalty program market.

Several retailers and businesses use loyalty programmes as one of their marketing methods to draw in and keep their channel partners and customers. They provide customers with additional benefits and encourage them to spend more money through these initiatives.

Rewards, points, discounts, and other unique incentives are provided by loyalty programmes in an effort to boost sales and foster client loyalty. This aids businesses in building a solid base of loyal customers.

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The market for loyalty programmes is a subset of the market for loyalty management, which also includes software and services (professional services and managed services). These variables led to an 18% growth rate in the Indian loyalty programme market over the course of the historical period (2016-2021).

What are the Factors Driving Demand in India Loyalty Program Market?

Loyalty programs play a crucial role in reducing overall operational costs. Organizations are focusing more on escalating repeat purchases instead of investing more in marketing activities to acquire a new consumer base.

Hence, organizations are more focused on maintaining the repeat purchase rate instead of investing more in marketing activities to acquire new channel partners. The organizations are currently focused on strengthening their repeat purchase rate.

Thus strengthening the repeat purchase rate is one of the prominent factor driving enterprises to switch towards loyalty programs.

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How will Adoption of AI to Offer Personalized Rewards to Channel Partners Benefit Market?

Industry experts today largely believe that many of the industry sectors are steadily marching towards personalization. In the past few years, adoption of AI (artificial intelligence) to create a more personalized experience is gaining popularity.

Creating user profiles has helped the players gain information to personalize incentives that are likely to be considered more effective than generalised incentives. Another way of using AI (artificial intelligence) is to incentivize the channel partners by logging in their purchase records. This feature can help the organization to completely analyse the purchase behaviour of channel partners in detail at different levels or tiers.

Category-wise Insights

Which Program Type Will Dominate the India Loyalty Program Market?

“Combination of Point-Based and Pre-Decided Loyalty Program to be the Most Preferred”

In terms of program type, combination of point-based and pre-decided loyalty programs account for a notable share of 64.8% in India loyalty program market. However, point-based loyalty programs held a significant share in 2020 as points are easy to earn and easy to redeem. Channels can redeem points for credit toward their next purchase, discounted services, or giveaways.

Which Consumer Orientation Will Remain Highly Sought-After in India Loyalty Program Market?

“Need for Sales Incentives to Boost the India Loyalty Program Market”

In terms of consumer orientation, sales incentives segment is expected to dominate the market owing to increase in profits, improves sales success and allows sustainable growth. A well-designed and well-executed loyalty program helps in retaining existing customers, attract new customers, reduce turnover and drive profits. However, employee rewards and channel incentives will account for significant market share of 17.7%, and 10.2%, respectively.

Which is the Leading End User in India Loyalty Program Market?

In terms of end-user, large enterprises segment will account for a notable share in the India loyalty program market. However, a significant share of B2B small and medium enterprises segment witness steady growth over the forecast period, estimates Future Market Insights (FMI).

Based on vertical, others segment including aviation, hospitality, BFSI, healthcare, education and IT & telecom is expected to hold lion’s share in the market.

Competitive Landscape

Prominent players in the India loyalty program industry are adopting various strategies to survive high level competition. Meanwhile, other players in the market are adopting strategies such as mergers and product launches to gain competitive edge in the industry.

India Loyalty Program Market by Category

By Program Type:

Point-Based Loyalty Program
Pre-Decided Loyalty Programs
Combination of Point-Based and Pre Decided Loyalty Programs

By End User:

Small& Medium Enterprises
Large Enterprises

By Consumer Orientation:

Employee Rewards
Sales Incentives
Channel Incentives

By Vertical:

Automobiles
Cement
Electronics & Electricals
Laptops
Luxury Brands
Mobile Phones
Paints
Tyres
Watches
Others

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
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Global Spirits Market Poised for Significant Growth, Projected to Reach US$ 90.3 Billion by 2033 Emerging Trends, Key Players, and Market Dynamics Unveiled

The number of spirits market is anticipated to increase globally from around US$ 59.4 billion in 2023 to approximately US$ 90.3 billion by 2033, mostly as a result of the growing commercial potential and Western culture’s influence.

The global spirits market is projected to expand from an estimated US$ 59,408 million in 2023 to US$ 90,288.9 million by 2033 at a compound annual growth rate (CAGR) of 4%. The primary driver of this increase is the rise in alcohol intake, particularly among youth who are exposed to Western culture. Spirit sales are strong and have potential for expansion; in 2022, they brought in a total of US$ 57,123 million worldwide.

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According to a number of previous market survey surveys, the total value of spirits sold worldwide in 2022 was US$ 57,123 million. Future industry Insights (FMI) data indicates that the worldwide spirits industry is expected to reach a valuation of approximately US$ 59,408 million by 2023. Additionally, the market is anticipated to grow at a CAGR of 4% between 2023 and 2033, according to this market analysis. The total market value is anticipated to reach US$ 90,288.9 million by 2033 if this moderate CAGR is followed.

One of the main causes fueling the expansion of distilleries or the spirit industry is the rise in the number of alcohol consumers. The overall use of various types of spirits has increased, especially among young people, as a result of Western culture’s influence on developing countries.

Spirits sales have increased significantly in recent years thanks to a more sophisticated distribution system utilised by alcohol producers, such as internet merchants. In addition, the growth and introduction of new alcoholic beverage-serving pubs, restaurants, and hotels have enhanced their market trend.

The use of craft spirits has increased over the past several years for a variety of reasons, including the younger generation’s growing preference for premium alcoholic beverages. In order to broaden their product lines, craft spirit distillers are also focusing on developing new beverages using a variety of herbs, spices, botanicals, and fruits.

Key Takeaways:

The absolute increment of the overall market over the next ten years is anticipated to be US$ 30,881 Million.
The United States alone accounted for almost 32% of the total spirits consumed in the year 2022.
Germany follows the United States in sales and consumption of spirits and contributed to nearly 15% of the market revenue share in 2022.
The demand for spirits in the United Kingdom is higher than in any other country in Europe and could progress at a 6% CAGR through 2033.
The capacity for the production of spirits in China is higher than in other Asia Pacific countries and during the projected period it could register a CAGR of 6.5%.
India is another emerging country for both consumption and supply of spirits which is poised to progress at 4.6% CAR through 2033.
Japan was figured out to have contributed 1.2% in global sales of spirits in 2022 while the contribution of Australia was only 0.9%.
Among the different types of spirits, the whiskey segment dominates the overall market having a 28% revenue share in the year 2022.
Based on distribution channels, the indirect sales of spirit accrued revenue of 71% in 2022.

Competitive Landscape:

Diageo plc.
Pernod-Ricard SA
LVMH
Jose Cuervo
Patrón
Beam Suntory
Brown-Forman Corp.
Constellation Brands, Inc.
Remy Cointreau SA
Marnier Lapostolle SA
Belvedere SA
Berentzen-Gruppe AG.
William Grant & Sons
The Edrington Group
Kweichow Moutai Group
Wuliangye
Yanghe Brewery
Daohuaxiang
Luzhou Laojiao
Others

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A few of the top producers of spirits are concentrating on taking advantage of the potential presented by the quickly expanding market sectors.

Future business of the spirits industry could shift in favor of the suppliers due to the ongoing introduction of product lines according to local preferences. As bigger spirit producers like Suntory Holding and Pernod Ricard are attempting to capitalize on this, new partnerships are taking place in the market. Acquired regional partners get access to a wider consumer base, and are also permitted to continue operations entirely independently of the new parent company.

Key Segmentation:

By Product Type:

Vodka
Rum
Whiskey
Gin
Tequila
Other Spirits

By Category:

Mass
Premium

By Application:

Household
Commercial

By Distribution Channel:

Direct Sales Channels
Indirect Sales Channels
- Hypermarkets or Supermarkets
- Specialty Stores
- Independent Retailers
- Online Retailers

By Region:

North America Market
Latin America Market
Europe Market
East Asia Market
South Asia Market
Oceania Market
The Middle East & Africa Market

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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.

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
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Electronic Equipment Repair Service Market Set to Scale New Heights, Forecasting US$ 238,452.7 Million by 2033 | FMI

By 2023, the market for electronic equipment repair services is expected to grow to a value of US$ 129,440.3 million. The market is expected to reach US$ 238,452.7 million by 2033, growing at a 6.3% CAGR.

Prior to 2022, the market was expanding at a strong compound annual growth rate of 5.7%. The market expanded from US$ 97,460.3 million in 2018 to US$ 121,654.4 million in 2022 in terms of value.

The electronic equipment repair service industry is projected to be augmented by strengthened semiconductor manufacturing. To cite an example, President Joe Biden approved the CHIPS and Science Act of 2022 in August 2022. The purpose of this legislation was to bolster local chip manufacturing. The legislation was backed by a total of US$ 53 billion in funding.

Growing importance of refurbished electronic business is projected to be a principal driver for the industry in focus. HyperXchange, which is a refurbished electronics brand, revealed FY2022 to 2023 growth in businesses. The brand cited that increasing demand for refurbished electronics, mainly mobile phones and laptops has led to business growth.

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Over the forecast period, the industry is also projected to witness a surge in concern pertaining to e-waste generation. This is projected to complement the market dynamics in the following years.

Heightened awareness about the role of medical electronics to operate successfully is projected to augment product sales. These are specially designed to find out about health problems. Additionally, they are suitable for imaging systems and medical procedures. Increasing adoption of this equipment is expected to increase the demand for electronic equipment repair services.

In emerging economies, a surge in the execution of production-related incentive schemes and other such conducive policies is projected to augment the market. In line with this, smart electronics manufacturers are also seen concentrating on their footprint expansion.

Top Highlights from the FMI’s Analysis of Electronic Equipment Repair Service Market:

Europe is projected to account for a prominent market share, gaining a sizeable 27.7% market share in 2022. Within the region, Germany enjoyed a 7.8% market share in 2022. The United States is projected to expand at 6.1% CAGR over the forecast period.
North America follows after Europe, clinching a market share of 23.5% in 2022. The United States reported a 19.4% market share in the same year.
The Asia Pacific is reckoned to expand at a robust pace. FMI has estimated China and India to attain a CAGR of 11.8% and 10.5%, respectively.
On the basis of end use, the residential segment is projected to grab a total of 61.2% market share.
Based on product type, consumer electronics is anticipated to hold a 76.3% market share over the estimated timeline.

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Glad Tidings: A Closer Look at the Key Developments in Electronic Equipment Repair Service Market

In March 2023, European Union proposed a new rule, forcing companies to repair old products for up to 10 years of the product’s lifecycle. The new rule is going to empower consumers with the right to repair. Heavy electronics also fall under this rule, including television, and washing machine, etc. Consumers can get it repaired by the company even after the sales guarantee expiry.
In April 2023, Mobile Tech Lab announced that it is going to focus on repair, not replacement. The Manitoba-based tech retailer is going to repair various consumer electronics including tablets, computers, televisions, etc.
LG Electronics gave permission to Dayton Appliance Parts (DAP) to circulate LG repair parts from DAP’s site in three states in August 2022.
In November 2020, the European Parliament voted for a new policy to introduce compulsory labeling for electronics with repairability ratings. This initiative aims to boost consumer confidence while shopping for electronics and electricals. France announced that it is going to observe repairability tags for laptops, smartphones, and other electronics.

Key Segments

By Product Type:

Consumer Electronics
Computer Related Products
Others

By End Use:

Residential
Industrial or Commercial

By Region:

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

About Future Market Insights (FMI)

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

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Indonesia Pet Care Market to Exceed US$ 5,883.2 Million by 2033 | FMI

The Indonesia pet care market is expected to reach US$ 2,298.4 million in 2023. The market is likely to surpass US$ 5,883.2 million by 2033 at a CAGR of 9.5% from 2023 to 2033.

The pet care industry in Indonesia has been experiencing significant growth in recent years, driven by several key factors. One of the primary drivers of growth in the industry is the increasing number of pet owners in the country. This growing pet population is creating new opportunities for companies that offer pet food, grooming, and healthcare products and services.

One of the key challenges facing the industry is the lack of regulatory oversight. The absence of clear guidelines and standards for pet food and other pet care products has led to concerns about the safety and quality of these products. Additionally, the lack of skilled professionals in the industry, such as trained veterinarians and pet groomers, is also a challenge that needs to be addressed.

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There are several opportunities for companies operating in the Indonesia pet care industry despite the challenges. One of the biggest opportunities is the increasing demand for natural and organic pet products. As many consumers become aware of the potential health benefits of natural and organic pet food, the demand for these products is expected to grow.

There is a growing demand for high-quality pet grooming, boarding, and healthcare services, which presents an opportunity for companies to invest in developing a network of pet care services.

One of the latest trends in the Indonesia pet care industry is the increasing demand for online sales and delivery of pet products. As eCommerce continues to grow in Indonesia, Several consumers are turning to online platforms to purchase pet products, including food, toys, and grooming supplies. This trend presents an opportunity for companies to invest in developing a strong online presence and delivery infrastructure.

Key Takeaways from the Indonesia Pet Care Market:

The Indonesia pet care market is anticipated to contribute a demand share of nearly 1.5% in the global pet care market.
Pet food is the dominant product category, accounting for 68.1% of the market in 2022.
In terms of service channels, contemporary trade-based retailing held a significant share of more than 31.5% in 2022.
According to FMI, the cat segment accounted for around 36.3% of the Indonesia pet care market share in 2022.
Pet adoption for companionship is boosting demand for pet care in Indonesia, with 67% of Indonesian households owning pets, with the majority owning cats followed by fish and dogs.

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An Overview of the Competition in Indonesia Pet Care Industry

The competition landscape of the Indonesia Pet Care industry is highly fragmented, with a mix of local and international players competing for market share. Some of the key players in the market include PT Japfa Comfeed Indonesia Tbk, Nestle Purina Petcare, Mars, Inc., Royal Canin, the Indonesian Veterinary Medical Association (IVMA), and the Indo Pet Expo.

Industry players offer a range of pet food products, as well as specialized nutrition, grooming, and healthcare services. They differentiate themselves through product innovation, specialization, and investment in the development of a network of pet care services.

The competition in the market is intensifying, as the Indonesia pet care industry continues to experience growth. This growth is driven by the increasing number of pet owners and their willingness to spend money on high-quality products and services. As such, companies are vying to capture a significant share of the growing market by differentiating themselves and meeting the evolving needs of pet owners in Indonesia. There are also some barriers to enter into the market such as:

Regulatory requirements for pet food and healthcare products
The need to establish a distribution network for products and services.

The presence of established players with strong brand recognition and customer loyalty can make it challenging for new entrants to gain market share.

Indonesia Pet Care Market by Category

By Service Type:

Product
Pet Food
Wet Food
Dry Food
Treats & mixers
Fresh Food
Pet Healthcare
Fashion, Toys, and accessories
Professional Services
Day Care
Grooming/Boarding
Pet Breeding and Training
Value Added Service
Insurance
Veterinary Care
Pharmacy
Adoption and Charity
Crisis Relief Service

By Pet Type:

Dogs
Cats
Birds
Fish and Reptiles
Small Pets
Horses & Other Livestock

By Service Channel:

Modern Trade
Convenience Stores
Care Services Centers
Veterinary Clinics
Online Retails
Support Care Centers
Pet Specialty Stores

Key Developments in the Market:

PT Central Proteina Prima Tbk officially hosted a ceremony in 2021 to mark the first shipment of pet food to the State of Brunei Darussalam, particularly pet food items with the Bolt and Cleo brands. Such an event assists the organization in strengthening its market presence.
HAPPY PET Investment Holding GmbH built a new branch in India in July 2022.
Nestlé Purina purchased the pet food business Lily Kitchen in 2020.
Nestlé Purina introduced its first cat litter in a durable and refillable container in the United States market in 2020.

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Intravascular Imaging Market Preparing for a Landmark US$ 656.29 Million Milestone by 2033

The intravascular imaging market is projected to be valued US$ 387.8 million by 2023. By 2033, the market is projected to be valued US$ 656.29 million. The market is anticipated to develop at a compound annual growth rate (CAGR) of 5.4% between 2023 and 2033.

Over the projected period, further technological innovation, especially AI-enhanced imaging, is likely to drive market expansion. Prospects for growth may arise in developing nations with expanding healthcare infrastructure. The world’s ageing population may raise the demand for intravascular imaging, especially for personalized medicine applications.

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Regulation modifications will continue to have a significant impact on market dynamics and the rate of technological adoption. The intravascular imaging market is expected to evolve significantly between 2023 and 2033, driven by technological advancements and altering healthcare requirements.

The increasing demand for intravascular imaging is also being pushed by institutional and office-based physician efforts to reduce healthcare costs. The drive towards downsizing, adaptability, and inexpensiveness has influenced the increasing usage of intravascular imaging systems.

The continuing efforts of companies to manufacture technologically advanced diagnostic equipment are expected to fuel intravascular imaging sales and contribute to the intravascular imaging market share growth. Globally rising rates of deep vein thrombosis, heart disease with coronary occlusion, and other disorders are expected to increase patient traffic in diagnostic centers, fueling intravascular imaging market development.

Key Takeaways:

The United States is predicted to reach US$ 700 million by 2033.
The United States is predicted to increase at a 5.6% annual rate.
The intravascular imaging market in the United Kingdom is expected to reach US$400 million by the end of the forecast period.
China’s intravascular imaging industry is anticipated to be worthUS$850 million.
The intravascular imaging market in Japan is expected to develop significantly, reaching US$ 700 million by 2033.

“Due to the increased effectiveness of intravascular imaging methods for the diagnosis of blood vessel disease, broad adoption of intravascular imaging is expected to significantly increase the popularity of intravascular imaging while accelerating intravascular imaging revenue growth,” says an FMI analyst.

Intravascular Imaging Market Competitive Landscape

The major companies in the intravascular imaging market are attempting to expand their product footprint in order to strengthen their global sales chances. Collaborations, mergers and acquisitions, and agreements between regional and global market leaders are also expected to increase intravascular imaging market share.

Siemens Healthineers launched Luminos Impulse, a fluoroscopy technology with a cutting-edge layout and characteristics shared by high-end fluoroscopy systems including an intuitive imaging chain, complete dose optimization, cybersecurity attributes, and detector-sharing capacity for radiography, in September 2021.
In May 2021, Siemens Healthineers launched Somatom X.ceed, a one-of-a-kind high-resolution, fast-paced CT (computed tomography) scanner intended exclusively for exceptionally demanding medical uses where time and precision are important.

Key Players :

Acqiris
NIDEK CO. LTD.
AGFA Healthcare
Aculight Carl Zeiss AG
Heidelberg Engineering Inc.
Optopol
Sonostar Technologies Co.Ltd.
OPKO Health
AlazarTech

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Segmentation Analysis of the Intravascular Imaging Market

By Product Type:

Instruments
Software

By Modality:

Handheld
Trolley Mounted

By End User:

Hospitals
Diagnostic Imaging Centers
Ambulatory Surgical Centers
Long Term Care Centers
Others

By Region:

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

Author By:

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.

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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Microparticulated Whey Protein Market Expected to Soar, Reaching $376.7 Million by 2033 Ready-to-Drink Beverages to Capture 34.4% Market Share

The Microparticulated Whey Protein market estimated to be worth $165 million in 2023, it is projected to increase impressively at an 8.3% CAGR to reach US$ 376.7 million by 2033. Demand from consumers for practical, healthful products and technical developments—especially in the ready-to-drink beverage category, which is expected to account for 34.4% of the market by 2033—are the main drivers of this upsurge.

The market for microparticulated whey protein is growing swiftly since it has so many applications in the food and beverage industry. A growing range of formulations utilising microparticulated whey protein are being developed in response to consumer demand for products that are both functional and nutritious. Growing health consciousness and processing technology advancements are driving the market’s growth.

Microparticulated whey protein market expansion is being driven by technical improvements and the growing customer demand for useful and healthy products. Estimated to be worth approximately US$ 165.0 million in 2023, it is projected to expand at a noteworthy rate of 8.3% per year to US$ 376.7 million by 2033. Ready-to-drink beverages are significant; by 2033, they should hold 34.4% of the market.

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According to Future Market Insights (FMI), the global Microparticulated Whey Protein Market is valued at US$ 165.0 million in 2023. It is estimated to reach US$ 376.7 million by 2033. Sales are likely to grow at a CAGR of 8.3% from 2023 to 2033.

The fact that ready-to-drink beverages account for a sizable share of the worldwide industry is remarkable. By 2033, it is projected to have a 34.4% market share.

Ready-to-drink beverages have become more and more popular in the current era as people lead busier lifestyles because of its portability and convenience. Customers can try out cutting-edge flavourings, such carbonation, and package designs when they buy these beverages.

Within the category of ready-to-drink beverages, both refrigerated and shelf-stable beverages are included. The demand for shelf-stable products is high as they are easy to store and distribute.

Growing demand for sports nutritional supplements is expected to provide favorable opportunities for manufacturers. This is due to microparticulated whey protein’s availability, amino profile, and digestibility.

Increasing demand for healthy and functional food products is also likely to stimulate market demand. Consumers are becoming health conscious and are actively seeking products that offer nutritional benefits. As it contains amino acids and high protein content, it also enhances texture and sensory attributes.

Changing consumer behavior, with a significant percentage seeking low-fat and high-protein food options, is driving the demand for microparticulated whey protein as a replacement for high-fat ingredients.

Increasing adoption of microparticulated whey protein as a texturizing and emulsifying agent in various food formations will drive demand. It provides excellent water-binding capabilities and can contribute to improving texture, velocity, and stability. These properties make it highly valuable for applications such as meat products, sauces, dressings, and desserts.

This trend is also prompting packaged food companies to incorporate functional ingredients to enhance their product labels and maintain their competitive edge.

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Key Takeaways from the Microparticulated Whey Protein Market Report:

The global market for microparticulated whey protein is anticipated to reach US$ 376.7 million by 2033.
The United States is likely to expand at 0% CAGR between 2023 and 2033.
Germany is likely to dominate Europe market for microparticulated whey protein and hold a valuation of US$ 38.2 million by 2033.
In terms of application, the ready-to-drink beverages segment accounts for a dominant share of 0% of the total market by 2033.
By form, powder segment is expected to hold a significant market share of 6% of the total microparticulated whey protein industry in 2023.

“Rising demand for sports nutrition and healthy food products globally will fuel sales. Therefore, manufacturers need to need to develop products with novel features to stay competitive. Advent of processes like microencapsulation will likely reduce operating costs and increase efficiency for manufacturers.” – says a lead analyst at Future Market Insights (FMI)

Who is Winning?

CPKelco- SIMPLESSE®, Arla Foods Ingredients, Sure Protein WPC550 (NZMP), MILEI GmbH, Carbery, Leprino Foods, Makers Nutrition, LLC, Fonterra, Nutra Solutions and Others are key players in the microparticulated whey protein industry

Key players are developing microparticulated whey protein products with unique properties, enhanced functionalities and improved technologies. They are also investing in research and development to create new formulation and explore novel applications.

Key manufacturers are also implementing quality control measures, conduct regular testing and analysis to obtain necessary certifications.

For instance,

In May 2021, Arla Foods Ingredients launched a new range of microparticulate whey protein ingredients. These are designed to use in low-pH beverages, such as energy drinks and fruit juices.
In February 2021, Glanbia plc announced a partnership with a German start-up, Ingredient Insights GmbH, to develop new plant-based protein ingredients. It includes microparticulate whey protein, for use in food and beverage products.
In November 2020, Hilmar Ingredients announced the launch of its new microparticulate whey protein concentrate. It is designed to provide enhanced texture and stability in a variety of food and beverage products.

Get More Valuable Insights

Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global microparticulated whey protein industry presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.

Microparticulated whey protein industry is segmented by application (ready-to-drink beverages, functional beverages, baked goods, confectionery, snacks and cereals, dairy (cheese/processed cheese and yogurt), coffee creamer, nutritional products, sports nutrition, medical nutrition (infant nutrition and frozen desserts), margarine, fat based condiments), by form (powder and liquid) and by region for 2023 to 2033

Microparticulated Whey Protein Market by Category

By Application:

Ready-to-drink Beverages
Functional Beverages
Baked Goods
Confectionery
Snacks and Cereals
Dairy
- Cheese/Processed Cheese
- Yogurt
Coffee Creamer
Nutritional Products
- Sports Nutrition
- Medical Nutrition
- Infant Nutrition
Frozen Desserts
Spreads
Margarine
Fat Based Condiments

By Form:

Powder
Liquid

By Region:

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

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About the Food & Beverage Division at Future Market Insights (FMI)

FMI’s Food & Beverage team offers comprehensive business intelligence services, with a vast array of reports and data points analyzed across 50+ countries over a decade. The team provides consulting services and end-to-end research, offering expert analysis, actionable insights, and strategic recommendations to clients worldwide. Contact them to explore how they can assist with your unique business intelligence needs.

About Future Market Insights, Inc.

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

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Pipette Controller Market: Positioned to Surpass US$ 263.6 Million by 2033

The worldwide pipette controller market size is expected to grow steadily and reach a valuation of approximately US$ 193 million in 2023. According to industry experts, the market is expected to reach a value of around US$ 263.6 million by 2033, with a projected Compound Annual Growth Rate (CAGR) of 3.2%.

Pipette controllers, essential tools in laboratories and research settings, have witnessed increased demand due to advancements in scientific research and healthcare diagnostics. This market’s growth is driven by factors such as ongoing research and development activities, the expansion of the life sciences sector, and the need for accurate and efficient liquid handling.

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The projected CAGR of 3.2% reflects the consistent rise in demand for pipette controllers and the industry’s commitment to innovation and precision. These devices play a critical role in various scientific disciplines, from pharmaceuticals and biotechnology to clinical diagnostics, ensuring accurate and reproducible results.

As the global pipette controller market expands, it underlines the significance of investing in technological advancements, product development, and quality assurance. The market’s growth signifies the dedication to improving research and diagnostics processes, which has far-reaching implications in various scientific fields.

Key Takeways:

Steady Growth Trajectory: The global pipette controller market is currently valued at approximately US$ 193 million in 2023 and is expected to grow steadily, reaching an estimated valuation of US$ 263.6 million by 2033, with a projected CAGR of 3.2%. This reflects a sustained upward trajectory in the demand for pipette controllers.
Vital Role in Research and Diagnostics: Pipette controllers are indispensable tools in laboratory settings, research institutions, and the healthcare sector. They significantly contribute to improving the accuracy of experiments, reducing the margin of error, and ensuring reliable and reproducible results across various scientific disciplines.
Growing Significance: The increasing importance of pipette controllers in scientific research, biotechnology, pharmaceuticals, and clinical diagnostics underscores their growing significance. This is driven by the need for precision and efficiency in liquid handling, which directly impacts the quality of research and diagnostics processes.
Commitment to Technological Advancements: The market’s growth emphasizes the industry’s dedication to advancing technology, product development, and quality assurance. Investments in innovation and product improvement are crucial for meeting the evolving demands of laboratories and research facilities worldwide.
Broad Applications: Pipette controllers play a critical role in multiple scientific fields, ranging from pharmaceuticals to biotechnology and clinical diagnostics. Their versatility and accuracy make them a fundamental tool for a wide range of applications.
Impact on Scientific Progress: The growth of the pipette controller market indicates its essential role in driving scientific progress. As research and diagnostics become increasingly sophisticated, the demand for accurate and efficient liquid handling solutions continues to rise, with pipette controllers at the forefront of this development.
Continuous Advancements: The pipette controller market is expected to evolve further with ongoing advancements in technology and a focus on meeting the changing needs of the scientific community, ensuring that research and diagnostic processes remain at the cutting edge of accuracy and reliability.

Key Companies :

INTEGRA Biosciences AG
Hamilton Company
VWR International LLC
Gilson Incorporated
Eppendorf AG.
Heathrow Scientific

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Key Segments Profiled in the Pipette Controller Market Survey

By Product Type:

Single Chamber
Multi Chamber

By Indication:

Mechanical
Electrical
Manual
Automatic

By End User:

For Hospitals
For Diagnostic Laboratories
For Research Laboratories
For Academic & Research Institutes

By Region:

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

Author By:

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.

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

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705

For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Heat Pump Market Size: Industry Anticipated to US$ 58.7 billion by 2033

The global heat pump market is likely to capture a valuation of US$ 34.3 billion in 2023 and reach US$ 58.7 billion by 2033. The global market is anticipated to register a CAGR of 5% during the forecast period.

A heat pump is a heating, ventilation, and air conditioning (HVAC) system that provides both heating and cooling by transferring heat energy between indoor and outdoor environments. It operates on the principle of thermodynamics, moving heat from a cooler space to a warmer space, making the cooler space cooler and the warmer space warmer.

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How Heat Pumps Work:

During the heating mode, the refrigerant absorbs heat from the outdoor air (even in cold weather) and carries it indoors, where it releases the heat into the indoor space through the evaporator coil.
In the cooling mode, the process is reversed. The refrigerant absorbs heat from the indoor air and releases it outdoors through the condenser coil.
Heat pumps are highly efficient because they move heat rather than generating it through combustion, making them a sustainable and environmentally friendly heating and cooling solution.
They can be used in various applications, including residential homes, commercial buildings, and industrial facilities.
Some heat pumps also have supplemental heating elements, such as electric resistance heaters or gas furnaces, to provide additional heating capacity during extremely cold weather conditions.

Benefits of Heat Pumps:

Energy Efficiency: Heat pumps can provide efficient heating and cooling, especially in moderate climates, resulting in lower energy consumption and utility bills compared to traditional heating and cooling systems.
Versatility: Heat pumps offer both heating and cooling capabilities in a single system, providing year-round comfort and flexibility for different seasons and climates.
Environmentally Friendly: Because they transfer heat rather than burning fossil fuels, heat pumps produce fewer greenhouse gas emissions and contribute to reducing carbon footprints.
Improved Indoor Air Quality: Heat pumps can include air filtration and purification features, helping to remove airborne contaminants and allergens and improve indoor air quality.
Long Lifespan: With proper maintenance, heat pumps can have a long lifespan, providing reliable heating and cooling for many years.
Cost Savings: While the upfront cost of installing a heat pump may be higher than traditional HVAC systems, the potential energy savings over time can offset the initial investment, resulting in long-term cost savings.

Key Players:

Viessmann Group
Danfoss Group Global
United Technologies Corporation
Stiebel Eltron Group
Glen Dimplex Group
The Bosch Group
Mitsubishi Electric Corporation
Panasonic Corporation
NIBE Group
Daikin Industries Limited

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Key Segments
By Product Type:

Air-water heat pump
Air-air heat pump
Ground Source heat pump
Hybrid heat pump

By End-use Sector:

Residential
Commercial
Industrial

By Power Source:

Electric
Others(Gas Driven)

By Refrigerants:

HFC
CO2
Ammonia
Hydrocarbon
Others

By System Type:

Air-source heat pumps
Ductless mini-split heat pumps
Geothermal heat pumps
Absorption heat pumps

By Region:

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

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Nandini Singh Sawlani