Global Hyaluronic Acid Products Industry on a Trajectory to Reach US$6,838.2 Million by 2033, Flaunting a Resilient 7.4% CAGR

The Global Hyaluronic Acid Products Industry is poised for exceptional growth, with a projected valuation of US$6,838.2 million by 2033, according to a recent market analysis by FMI. The industry is set to achieve a remarkable Compound Annual Growth Rate (CAGR) of 7.4% during the forecast period, signaling robust expansion and widespread adoption.

The market’s upward trajectory is attributed to innovative research and development activities by manufacturers, contributing to the continuous evolution of hyaluronic acid products. Bioventus, a pioneering player in the field, made a significant impact with the introduction of Durolane, a cutting-edge joint lubricant designed to alleviate knee osteoarthritis pain through a single injection. Notably, Bioventus stands out as the exclusive provider in the United States market, offering a range of hyaluronic acid options, including one injection (Durolane), three injections (Gelsyn-3), and five injections (Supartz FX), catering to diverse patient needs.

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The aging population has created a significant demand for non-invasive procedures, leading to increased adoption of hyaluronic acid-based dermal fillers that offer an alternative to traditional surgeries. Moreover, the cost of such treatments is minimal, thereby contributing to the growth of the market.

The global market is experiencing significant growth due to the high usage of anti-aging cosmetic products. For instance, in 2018, there were 17.7 million cosmetic procedures performed, according to the Aesthetic Plastic Surgery statistics published in 2020. Similarly, in 2019, the International Society of Plastic Surgery (ISPAS) reported that 1.5 million individuals aged 51-64 years underwent botulinum toxin procedures worldwide. These high statistics are contributing to the increasing market value of the hyaluronic acid market.

Key Takeaways from the Global Hyaluronic Acid Products Industry

  • North America is expected to dominate the market while growing with a CAGR of 1% during the forecast period.
  • The market in India is projected to witness a CAGR of 8% during the forecast period.
  • The market in China is expected to grow at an 8% CAGR during the forecast period.
  • By product type, the cycle injection segment is projected to lead the segment and is estimated to grow with a CAGR of 01% during the forecast period.
  • By distribution channel, the hospital pharmacies segment is expected to lead the market. It is expected to grow with a CAGR of 8% throughout the forecast period.

Rising demand for non-invasive procedures and anti-aging personal care products are expected to fuel growth in the market during the forecast period, comment by Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)

Competitive Landscape in the Global Hyaluronic Acid Products Industry

The Global Hyaluronic Acid Products Industry is extremely competitive and consists of various key industry players. These players are heavily investing in the hyaluronic acid products market.

The key industry players are Anika Therapeutics, Inc., Fidia Farmaceutici S.p.A., Sanofi, Ferring B.V., Viatris Inc., Croma-Pharma, Seikagaku Corporation, Zimmer Biomet, Lifecore Biomedical, LLC, LG Chem, Bioventus LLC, Smith & Nephew plc, Shanghai Jingfeng Pharmaceutical Co., Ltd., Nestle (Galderma), Bausch Health Companies Inc. (Salix Pharmaceuticals, Inc.), Allergan Plc.

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Some recent developments in the Global Hyaluronic Acid Products Industry are:

  • In February 2022, AbbVie Inc.’s subsidiary Allergan received the Food and Drug Administration’s approval for JUVÉDERM VOLBELLA XC, which can improve infraorbital hollows in adults over 21 years old. This expanded the company’s aesthetic product portfolio in the United States market.
  • In February 2021, Contipro, a well-known manufacturer of hyaluronic acid-based in the Czech Republic, introduced a new product for anti-aging and anti-acne treatment called HyRetin, which helps in improving skin appearance.
  • Anika Therapeutics announced its acquisition of Parcus Medical, a leading sports medicine company, and Arthrosurface in January 2020. The acquisition is expected to enhance Anika’s commercial capabilities and infrastructure.

More Valuable Insights Available

Future Market Insights offers an unbiased analysis of the Global Hyaluronic Acid Products Industry, providing historical data for 2017 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the Global Hyaluronic Acid Products Industry, the market is segmented based on product type, by application, by distribution channel, and by region.

Key Companies Profiled in the Global Hyaluronic Acid Products Industry         

  • Anika Therapeutics, Inc.
  • Fidia Farmaceutici S.p.A.
  • Sanofi S.A
  • Ferring B.V.
  • Viatris Inc.
  • Croma-Pharma
  • Seikagaku Corporation
  • Zimmer Biomet Holdings
  • Lifecore Biomedical LLC
  • LG Chem
  • Bioventus LLC
  • Smith & Nephew plc
  • Shanghai Jingfeng Pharmaceutical Co., Ltd.
  • Nestle (Galderma)
  • Bausch Health Companies Inc. Companies Inc. (Salix Pharmaceuticals, Inc.)
  • Allergan Plc.

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Key Segments Profiled in the Global Hyaluronic Acid Products Industry Survey

By Product:

  • Single Cycle Injection Products
  • Three-Cycle Injection Products
  • Five Cycle Injection Products

By Application:

  • Osteoarthritis
  • Ophthalmic
  • Dermal Fillers
  • Vesicoureteral Reflux

By Distribution Channel:

  • Hospital Pharmacies
  • Retail Pharmacies
  • Drug Stores
  • Specialty Clinics

By Region:

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

About the Healthcare Division at Future Market Insights

The healthcare team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.

Author

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 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 5,000 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
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Global Clinical Alarm Management Industry Eyes a 7.5% CAGR Surge, Envisioning a US$ 6.2 Billion Market by 2033 | as Predicted by FMI

The Global Clinical Alarm Management Industry is on the brink of an extraordinary surge, with anticipated revenues soaring to US$ 6.2 billion by 2033, representing a remarkable 7.5% Compound Annual Growth Rate (CAGR) from 2023. These insights, meticulously derived from thorough industry analysis, unveil a dynamic landscape brimming with substantial growth opportunities.

Recent projections indicate that the industry is poised for an annual expansion of approximately 13% through 2029. This surge is propelled by substantial investments in healthcare facilities and infrastructure development, reshaping the landscape of patient engagement and experience on a global scale. The unwavering commitment to crafting state-of-the-art healthcare environments has emerged as a driving force, catalyzing a revolutionary transformation in the healthcare sector.

“With global investments in the healthcare industry increasing at a rapid pace, clinical alarm management is likely to witness high demand to improve workflow, lower noise levels, and enhance patient care. In addition, solution providers are preparing to expand their portfolios and combine their services with advanced technologies such as Big Data Analytics to gain a distinct competitive edge,” says the FMI analyst.

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Key Takeaways from Global Clinical Alarm Management Industry Study

The adoption of clinical decision support tools and clinical alarm reporting software continues to broaden in both developing and developed countries.

Clinical alarm reporting software helps in identifying nonactionable alarms that could be fully adjusted or removed, contributing to an 80% reduction in ventilator alarms.

Clinical alarm management solutions – central monitoring systems in particular have been garnering significant traction, as they provide actionable intelligence to respond to alarm conditions with appropriate patient care or device management.

FMI reports that demand for clinical alarm management in hospitals and ambulatory surgical centers is likely to increase at the CAGR of ~14% and ~11% respectively, during the forecast period.

As compared to developing regions, the sales of clinical alarm management solutions is anticipated to be higher in countries of North America and Western Europe.

Key Players Eyeing Greater Opportunities in Asia Pacific

Leading players in the Global Clinical Alarm Management Industry are constantly focusing on expanding their business across Asia Pacific. Increasing investments in the digitalization of healthcare infrastructure, especially in developing countries such as China and India, is likely to help attract different clinical alarm management solution providers to continue their businesses in these countries. Further, with a wealth of innovation on the horizon, clinical alarm management market players are set to release advanced solutions and services for the end users.

Zebra Technologies offers alarm management solutions, which can deliver more than patient event notifications and secure text messaging.

The incorporation of new technologies such as the Internet of Things (IoT) in the healthcare sector along with the rising adoption of big data analytics has been leading to a paradigm shift in patient care delivery. The rapid inclination toward value-based healthcare is likely to remain instrumental to the growth of the Global Clinical Alarm Management Industry in the years ahead.

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Find More Valuable Insights on the Global Clinical Alarm Management Industry

In its new offering, Future Market Insights puts forward an unbiased analysis of the Global Clinical Alarm Management Industry, providing historical demand data (2014-2018) and forecast statistics for the period, 2019-2029. The study provides key insights on the clinical alarm management market based on components (solutions and services) and end users (hospitals, clinics, ambulatory surgical centers, long-term and palliative care centers, home care, and other end users) across seven major regions.

Global Clinical Alarm Management Industry: Segmentation

By Component

  • Solution
  • Clinical Decision Support Tool
  • Central Monitoring System
  • Mobility Solution
  • Clinical Alarm Reporting Software
  • Alarm Auditing Software
  • Service
  • Consulting
  • Implementation and Integration
  • Monitoring and Analytics

End User

  • Hospitals
  • Clinics
  • Ambulatory Surgical Centres
  • Long-term and Palliative Care Centres
  • Home Care
  • Others

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Author

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 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 5,000 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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Global Keloid Treatment Industry to Expand with 3.8% CAGR, Envisioning US$ 5.6 Billion by 2033 | FMI

The Global Keloid Treatment Industry has experienced robust growth, achieving a substantial valuation of US$ 3.8 billion in 2023. Future Market Insights (FMI), a leading market intelligence firm, anticipates a noteworthy Compound Annual Growth Rate (CAGR) of 3.8% between 2023 and 2033. This projection positions the industry to reach an impressive valuation of US$ 5.6 billion by the end of the next decade.

Keloids, characterized by the abnormal growth of scar tissue, have become a widespread concern globally. The escalating incidence of keloids has generated an increasing demand for effective treatment solutions. This surge is not only attributed to the rising prevalence of keloids but also to the continuous advancements in medical technologies and increased awareness among individuals seeking optimal solutions for scar management.

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Global Keloid Treatment Industry: Dynamics

The Global Keloid Treatment Industry growth is substantially driven by the rising prevalence of keloid scars as well as the development of multiple keloids. A growing consciousness among patients regarding their appearance is also driving the market of keloid treatment as keloid scars on the exposed body parts lead to ugly appearances. Other factors that are driving the growth in the keloid treatment market include increasing reimbursement for keloid therapies, formalization of standard treatment guidelines for keloid and increasing use of combination therapies. Clinics and hospitals are focussing on the adoption of advanced therapy options. CryoShape is used to reduce the impact of keloid scar and recurrence rate. Sensus Healthcare has developed an advanced superficial radiation therapy device to impart better treatment with limited adverse reactions.

Global Keloid Treatment Industry: Segmental Forecast

The Global Keloid Treatment Industry is segmented based on treatment type, end user and region. Based on treatment type, the market has been segmented into occlusive dressing, compression therapy, cryosurgery, excision, radiation therapy, laser therapy, interferon therapy, intralesional corticosteroid injection and others. Other treatment options include dermal fillers, topical creams, 5-fluorouracil, retinoic acid and imiquimod. The intralesional corticosteroid injection treatment segment dominates the Global Keloid Treatment Industry as this procedure is considered the gold standard and is being used in combination with other therapies. Intralesional corticosteroid injection is expected to be the second most lucrative segment by treatment type, with a market attractiveness index of 2.1 during the forecast period.

Based on end users, the Global Keloid Treatment Industry is segmented into hospitals, dermatology clinics, ambulatory surgical centres and others. The hospital segment is expected to remain dominant, as most of the radiation therapies and excision procedures are performed in hospitals. Hospitals are the largest segment by the end-user, which is estimated to represent US$ 1,164.7 Mn, or 37.0% share of the total market in 2017 and is projected to reach a market valuation of US$ 1,643.8 Mn, or 37.2% share of the total market by the end of 2027, expanding at a CAGR of 3.5% in terms of value.

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Global Keloid Treatment Industry: Regional Analysis

Based on region, the Global Keloid Treatment Industry is segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan and the Middle East & Africa.

North America dominated the Global Keloid Treatment Industry in 2016 and is expected to continue to dominate the global market throughout the forecast period. North America is the largest region in the keloid treatment market, which is estimated to represent US$ 1,105.6 Mn, or 35.1% share of the total market in 2017 and is projected to reach a market valuation of US$ 1,549.6 Mn, or 35.1% of the total market by the end of 2027, expanding at CAGR of 3.4% in terms of value. Clinics in North America are opting for advanced treatment therapies that can aid in reducing the risk of recurrence.

Global Keloid Treatment Industry: Vendor Analysis

Leading players in the Global Keloid Treatment Industry are launching new portable and mobile radiation therapy devices and are offering better treatment options to patients. Companies are targeting dermatology clinics to market their devices, where patients are provided the first line of treatment for keloid. Some of the players operating in the Global Keloid Treatment Industry who have been profiled in the report include Novartis AG, Sensus Healthcare, RXi Pharmaceuticals, Inc., Sonoma Pharmaceuticals, Inc., Perrigo Company plc, Bristol-Myers Squibb Company, Pacific World Corporation, Valeant Pharmaceuticals International, Inc., Revitol Corporation and Avita Medical Limited.

Market Segmentation The global keloid treatment Industry is segmented as follows:

  • Keloid treatment industry, by treatment type
  • Keloid treatment industry, by end-user
  • Keloid treatment industry, by region

The keloid treatment industry report begins with an overview of keloid treatment and key market definitions. This section also underlines factors influencing revenue growth of the Global Keloid Treatment Industry along with a detailing of the key trends, drivers, restraints, and opportunities. The next section of the report analyses the market based on treatment type and presents the forecast in terms of value for the next 10 years.

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Treatment types covered in the report include:

  • Occlusive Dressing
  • Compression Therapy
  • Cryosurgery
  • Excision
  • Radiation Therapy
  • Laser Therapy
  • Interferon Therapy
  • Intralesional Corticosteroid Injection
  • Others

The subsequent section covers the market analysis based on end-users and presents the forecast in terms of value for the next 10 years. End users considered in the report include:

  • Hospitals
  • Dermatology Clinics
  • Ambulatory Surgical Centres
  • Others

Author

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 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 is 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 5,000 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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Global Hip and Knee Reconstructive Industry Projections Signal a Strong CAGR of 5.6%, Envisioning US$ 35.8 Billion by 2032

The Global Hip and Knee Reconstructive Industry procedures are poised for remarkable growth, with a projected value of US$ 20.8 billion by the end of 2022, and a forecasted compound annual growth rate (CAGR) of 5.6% from 2022 to 2032. By 2032, the industry anticipates reaching an impressive valuation of approximately US$ 35.8 billion.

In the year 2021, knee reconstruction emerged as the dominant force in the global market, capturing a significant market share of 57.9%. This surge in knee reconstruction underscores the increasing demand for advanced orthopedic solutions and signifies a shift in treatment preferences within the healthcare landscape.

One standout contributor to the industry’s growth is Total Hip Arthroplasty (THA), renowned for its economic efficiency and consistent success as an orthopedic procedure. THA delivers reliable results for individuals grappling with advanced degenerative hip osteoarthritis. The procedure not only alleviates pain but also promotes functional recovery, ultimately enhancing the overall quality of life for patients.

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Following the development of AI and connected medical devices, the healthcare sector has experienced tremendous growth over the past ten years. The scope for diagnostics and therapies within the medical field has been greatly expanded by technological advancement.

The report provides substantial data sets that validate major trends influencing market growth for hips and knee replacement. It provides insights into the tactics used by the major competitors to solve issues that will limit the market’s ability to grow for hips and knee replacements. The Global Hip and Knee Reconstructive Industry report will help and identify the worries, for a smooth sailing of the small & medium as well as large enterprises, with the help of our deep research and information about the past, present, and future market environment.

Critical Questions Answered in the Report

  1. What are ongoing trends that will shape market growth curve for global Hips & Knees Reconstructive Industry?
  2. What are the drivers and challenges affecting the Hips & Knees Reconstructive Industry demand?
  3. What are the recent technological advancement in the Hips & Knees Reconstructive market?
  4. What are key trends and opportunities that will prevail the revenue growth of Hips & Knees Reconstructive Industry players?
  5. How will evolving regulatory policies impact the market growth?
  6. What is the impact of Covid-19 on the Hips & Knees Reconstructive Industry?

Competitive Analysis

By Prominent Global Hip and Knee Reconstructive Industry Players

  • Zimmer Biomet
  • DePuy Synthes
  • Smith & Nephew plc.
  • Stryker
  • MicroPort Scientific Corporation
  • B. Braun Melsungen AG
  • Exactech, Inc.
  • Limacorporate S.p.a.
  • CeramTec
  • ConforMIS

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 Hips & Knees Reconstructive market

Global Hip and Knee Reconstructive Industry: Segmentation

By Region

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East and Africa (MEA)

Detailed analysis of the geographical region and country-wise insights are offered in the latest Hips & Knees Reconstructive market report with established market players as well as incumbents in the region.

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Key Segments Covered in Global Hip and Knee Reconstructive Industry

By Product:

  • Hip Reconstruction
    • Total Hip Reconstruction Implants
      • Metal-On-Polyethylene
      • Metal-On-Metal
      • Ceramic-On-Polyethylene
      • Ceramic-On-Ceramic
      • Others
    • Partial Hip Reconstruction Implants
    • Revision Implants
  • Knee Reconstruction
    • Total Knee Reconstruction Implants
    • Partial Knee Reconstruction Implants
    • Revision Implants

By Fixation:

  • Cement
  • Cementless
  • Hybrid

By End User:

  • Hospitals
  • Orthopedic Clinics
  • Ambulatory Surgical Centers

Comprehensive analysis of the regional markets offers exclusive insights on the market performance across geographies along with relevant graphs, figures, and list of tables.

Why Future Market Insights?

  • Comprehensive analysis on evolving purchase pattern across different geographies
  • Detailed insights of market segments and sub-segments for historical as well as forecast period
  • A competitive analysis of  prominent players and emerging players in the Hips & Knees Reconstructive market
  • Detailed information about the product innovation, mergers and acquisitions lined up in upcoming years
  • Ground breaking research and market player-centric solutions for the upcoming decade according to the present market scenario

 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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North America Carbon Steel Industry Poised to Reach US$ 125.6 Billion by 2033: FMI Forecast

North America Carbon Steel Industry
North America Carbon Steel Industry

In 2022, North America’s carbon steel industry generated a revenue of US$ 75.0 billion, marking a significant economic contribution. With a projected compound annual growth rate (CAGR) of 4.9% over the forecast period, demand for carbon steel in the region is poised for steady expansion. Anticipated to surge from US$ 78.1 billion in 2023 to a substantial US$ 125.6 billion by 2033, the sector’s trajectory reflects a robust upward trend, indicative of the region’s enduring reliance on carbon steel and its enduring role in various industrial sectors.

The low carbon content steel segment is set to account for a dominant value share of 60.7% in 2023 and exhibit a CAGR of 4.9% throughout the assessment period. This is attributable to the rising usage of low carbon steel in diverse businesses due to its low cost, machinability, and corrosion resistance.

Several factors are expected to drive growth in North America during the forecast period. These include the rapid expansion of sectors such as automotive, construction, and railways, the rising need for strong and durable metals, and multiple advantages of carbon steel products.

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The growth of the energy sector in North America, particularly in the adoption of cleaner energy sources such as wind and solar power, is significantly driving the demand for carbon steel. This is because carbon steel is often used for making critical components, including wind turbines, solar panels, and energy storage facilities.

Carbon steel is widely used in these applications for its exceptional durability and strength. These properties of carbon steel are crucial for withstanding the elements and supporting the large structures required in the energy sector.

North America holds a significant position in the global automotive business, producing millions of vehicles annually. Carbon steel plays a pivotal role in this sector, particularly in the manufacturing of essential auto components such as frames and body panels.

The choice of carbon steel is underpinned by its exceptional strength, cost-effectiveness, and recyclability, making it an ideal material for ensuring the structural integrity and safety of vehicles. Hence, the rapid growth of the automotive sector across North America will likely play a key role in bolstering sales of carbon steel and related products.

“North America’s carbon steel business is primed for robust growth on the back of factors such as heightened environmental regulations and expanding industrial sector. With businesses across North America increasingly looking for innovative solutions to minimize their impact on the environment, carbon steel companies are well positioned to take advantage of new growth opportunities,” says an Analyst at Future Market Insights, Inc.

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Key Takeaways from the North America Carbon Steel Industry:

  • Sales of carbon steel in North America are projected to rise at 9% CAGR through 2033.
  • By carbon content, the low carbon steel segment is expected to total US$ 74.2 billion by 2033.
  • Based on product type, the long product types segment is poised to exhibit a CAGR of 1%.
  • By end-use, the building & construction segment is set to hold a value share of 4% in 2023.
  • Revenue in the United States is anticipated to reach US$ 91.5 billion by 2033.
  • Canada is projected to attain a valuation of US$ 17.3 billion by 2033.
  • Demand in Mexico is predicted to rise at a 5% CAGR through 2033.

Competitive Landscape

United States Steel Corporation, Steel Dynamics Inc., EVRAZ Plc, Novolipetsk Steel, Cleveland-Cliffs Inc, Nucor Corporation, ArcelorMittal Corporation, North Star BlueScope Steel, Commercial Metals Company, and TimkenSteel Corporation & Gerdau S.A. are a handful of the leading carbon steel manufacturers profiled in the report.

Renowned players are focusing on increasing their production capacity to meet end-user demand. They also implement strategies such as mergers, collaborations, acquisitions, and facility expansions to strengthen their footprint.

Recent Development-

In 2023, United States Steel Corporation introduced InduX Electrical Steel at Ceres Global. It is a very wide and lightweight steel, having all the magnetic properties necessary for electric vehicles (EV), as well as generators and transformers.

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North America Carbon Steel Industry Segmentation

By Carbon Content:

  • Low Carbon Steel/Mild Steel (up to 0.3% Carbon)
  • Medium Carbon Steel (0.3 to 0.6% Carbon)
  • High Carbon Steel (More than 0.6% Carbon)

By Product Type:

  • Flat Product Types
    • GP/GC Sheets
    • HR Coils
    • CR Sheets/Coils
    • Pipes
    • Electrical Sheets
    • Tin Plates
    • HR Sheets
    • Plates
  • Long Product Types
    • Bars & Rods
    • Steel Structural
    • Railway Material

By End-use:

  • Building & Construction
  • Automotive
  • Railways
  • Shipbuilding & Marine
  • Aerospace
  • Oil & Gas and Energy
  • Heavy Machinery & Equipment
  • Consumer Appliances
  • Cutting Tools & Agriculture Equipment

By Region:

  • United States
  • Canada
  • Mexico

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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Global DNA Polymerase Industry Anticipated Surge to US$ 647.5 Million by 2033 with a Striking 6.2% CAGR, Forecasts FMI

The Global DNA Polymerase Industry is on the brink of an extraordinary expansion, forecasting a remarkable valuation of US$ 647.5 million by the year 2033. This projection comes with an impressive Compound Annual Growth Rate (CAGR) of 6.2%, building on the anticipated valuation of US$ 353.9 million in 2023.

DNA polymerase, a pivotal component in diagnostic applications, particularly in PCR tests, stands as a linchpin due to its unparalleled ability to synthesize new DNA strands. Over the past decade, the industry has experienced noteworthy advancements in processivity, specificity, fidelity, and thermostability, driving it toward unprecedented growth.

The anticipated surge in valuation reflects the industry’s commitment to innovation and the increasing demand for high-quality DNA polymerase in diagnostic applications. As a cornerstone in the healthcare sector, DNA polymerase plays a pivotal role in ensuring the accuracy and reliability of PCR tests, contributing significantly to disease diagnostics.

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Increasing R&D activities is a key factor positively influencing the development and use of high-fidelity DNA polymerase. Increasing incidences of cancer, concerns over uncontrolled genetic mutations, increasing awareness of neurological disorders, and the potential for treating chronic diseases create lucrative opportunities in the Global DNA Polymerase Industry. Also, the growing importance being given to personalized medicine will provide impetus to market players through the coming decade.

On the other hand, Global DNA Polymerase Industry players are expected to face many challenges during the forecast period. For instance, the shortage of adequately skilled professionals is a restraining factor affecting the market. Lack of information and awareness associated with DNA polymerase also affects sales prospects. Also, a shortage of funding by governments in the sector is restraining market growth. These factors are especially true in developing countries with restricted access to capital and infrastructure.

Key Takeaways from the Global DNA Polymerase Industry Study

  • The Global DNA Polymerase Industry is projected to grow at approximately 6.5% CAGR through the projection period.
  • Molecular diagnostic applications will account for a major market, with impetus from the covid-19 pandemic.
  • The U.S. will hold the lead in North America accounting for more than 50% of the global valuation.
  • China will reflect high growth potential accounting for a CAGR of over 7.5%, owing to rising healthcare spending.
  • The UK will reflect high demand in Europe supported by the rise of contract research and manufacturing organizations in biopharmaceuticals.

“The introduction of numerous government initiatives and rising levels of government funding efforts for R&D activities, are key factors that are expected to bolster the growth of high-fidelity DNA polymerase offerings. Furthermore, the increasing occurrence of genetic disease, is also one of the major factors supporting growth in the market through the assessment period,” said an FMI analyst.

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Who is Winning?

The Global DNA Polymerase Industry is set to widen its scope of expansion through the assessment period, driven by a higher rate of adoption in molecular diagnostics, bioprocessing, cancer research, and the development of generic biologics in the biopharmaceutical sector. A shortage of adequately skilled professionals and a lack of awareness has restrained revenue in the industry.

Some of the more prominent players in the Global DNA Polymerase Industry include but are not limited to Thermo Fisher Scientific Inc., Hoffmann-La Roche AG, Merck KGaA, Qiagen N.V., Agilent Technologies Inc., Takara Bio Inc., Genescript, Illumina Inc., New England Biolabs, Inc., Bioline, and Promega Corporation.

Want More Insights?

Future Market Insights provides an exhaustive report in terms of forecast on global, regional, and country levels, with actionable insights on the latest industry trends in key segments from 2016 to 2031. The Global DNA Polymerase Industry is segmented in detail to encompass all aspects, providing readers with a complete market intelligence report approach. The study provides details based on product type (prokaryotic and eukaryotic), and end use (molecular diagnostics companies, diagnostic laboratories, academic and research institutes, biopharmaceutical companies, and hospitals), across seven major regions.

Key SegmentsProduct Type

  • Prokaryotic DNA polymerase
  • Eukaryotic DNA polymerase

End Use

  • Molecular diagnostics companies
  • Diagnostic laboratories
  • Academic and research institutes
  • Biopharmaceutical companies
  • Hospitals

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Region

  • North America (U.S. & Canada)
  • Latin America (Mexico, Brazil, Argentina, Chile, Peru, & Rest of LATAM)
  • Western Europe (Germany, U.K., France, Italy, Spain, BENELUX, Nordic, and rest of W. Europe)
  • Eastern Europe (Russia, Poland, CIS Countries and Rest of E. Europe)
  • Middle East and Africa (GCC Countries, Turkey, South Africa, Israel, and rest of MEA)
  • Japan
  • Asia Pacific excluding Japan (China, India, ASEAN, South Korea, Australia, & Rest of APEJ)

Author

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 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 5,000 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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Non-Destructive Testing Equipment Market: Estimated Worth of US$ 31574.6 Million by 2032, Growing at a 6.2% CAGR

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

The Non-Destructive Testing Equipment Market is poised for significant growth, projecting a positive Compound Annual Growth Rate (CAGR) of 6.2% from 2022 to 2032. This growth trajectory is expected to culminate in a substantial market valuation of US$ 31,574.6 Million by 2032, with an initial estimate of US$ 17,324 Million by the close of 2022. The impetus behind this upward trend is primarily attributed to the escalating stringency of safety regulations, aimed at ensuring the secure and reliable performance of machinery, as well as facilitating stringent quality control measures.

The heightened focus on adhering to safety protocols has instigated a surge in demand for non-destructive testing equipment across diverse industry verticals. This surge is underscored by the equipment’s pivotal role in evaluating and inspecting various facets of materials, components, and assemblies. As the international market increasingly prioritizes the enhancement of material quality and durability, the demand for non-destructive testing equipment is expected to witness sustained growth.

Moreover, the surge in safety regulations governing quality control, safety, and the dependable functioning of machinery has propelled the adoption of non-destructive testing equipment. This trend is notably pronounced across different end-use industries where the imperative to maintain and enhance quality standards while mitigating breakdown risks has become paramount. In essence, the forecast period anticipates a robust increase in the demand for non-destructive testing equipment, reflecting its pivotal role in ensuring the integrity and reliability of various industrial components.

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Moreover, a myriad of significant opportunities has emerged for both new and established players to distinguish their product offerings through innovation and competitive pricing. Concurrently, there is a heightened demand for non-destructive testing equipment in various construction projects, underscoring its indispensable role in the overarching process. The advent of automatic and laser-based testing equipment is poised to unlock novel avenues for growth within the target market.

Noteworthy advancements in electronics, robotics, automation, and the development of user-friendly software have collectively enhanced the appeal of this equipment across a diverse spectrum of end-users. The incorporation of non-destructive testing equipment has demonstrated a tangible reduction in maintenance and repair costs, thereby propelling the demand for such equipment in the market throughout the forecast period.

“High demand in the expanding construction sector will likely propel the global growth of the non-destructive testing equipment market over the forecast period,” says an FMI analyst. 

Key Takeaways:

  • High investment rates will likely hinder the estimated market growth during 2022-2032.
  • The non-destructive testing equipment market in North America will hold about 28.5% of the global market share in 2022.
  • Europe’s non-destructive testing equipment market will account for 23.8% of the market share.
  • Power generation activities with the use of shale oil coupled with the surging market competition will bolster growth opportunities for the target market in North America.
  • The growth and development of industrial infrastructure will stimulate market prospects in Europe.
  • Start-ups in this market are focusing on incorporating novel technologies into their products.

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Competitive Landscape 

Ashtead Technology, Eddyfi, Fischer Technologies Inc, General Electric, Nikon Corporation, Mistras Group, Olympus Corporation, Sonatest, YXLON International, Zetec, Inc, MME Group, TWI Ltd., among others are some of the major players in the non-destructive testing equipment market profiled in the full version of the report.

Leading market players are keen on utilizing new and advanced technologies to upgrade their product offerings. These businesses also engage in new product releases and product development to gain a competitive edge.

More Insights into Non-Destructive Testing Equipment Market Report

In its latest report, FMI offers an unbiased analysis of the global non-destructive testing equipment market, providing historical data from 2016 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of end use verticals (petrochemical and pipe, manufacturing applications, government infrastructure, aerospace, automotive, public safety, power generation, others), services (training, inspection, consultation, others), technology (radiography testing, ultrasonic testing, visual testing, magnetic particle testing, liquid penetrant testing, others), and region.

According to the latest FMI reports, based on region, the non-destructive testing equipment market in North America will present substantial growth during 2022-2032. The target market in this region will account for 28.5% of the global market share. The presence of intense market competition and a swell in power generation activities with shale oil, particularly in Canada and the U.S., drive the growth of the non-destructive testing equipment market in North America. Besides, Europe too will demonstrate notable growth by accounting for 23.8% of the global non-destructive testing equipment market shares. Advancing industrial infrastructure will propel the target market growth in this region during the forecast period.

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Key Segments Covered in the Non-Destructive Testing Equipment Industry Analysis

By End Use Verticals:

  • Petrochemical and pipe
  • Manufacturing applications
  • Government infrastructure
  • Aerospace
  • Manufacturing applications
  • Automotive
  • Public safety
  • Power generation
  • Others

By Services:

  • Training
  • Inspection
  • Consultation
  • Others

By Technology:

  • Radiography Testing
  • Ultrasonic Testing
  • Visual Testing
  • Magnetic Particle Testing
  • Liquid Penetrant Testing
  • Others

About Future Market Insights (FMI)

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

Contact Us :

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

Inspection Machines Market Analysis: Anticipated Growth at 5.1% CAGR from 2022 to 2032, Totaling US$ 1053.5 Million

The Inspection Machines Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the Inspection Machines market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for Inspection Machines. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2032. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.

The Inspection Machines Market is poised for substantial growth, driven by a surge in research studies, innovative product developments, and upcoming launches. Among these advancements is the cutting-edge VT-X750-V3 system introduced by OMRON Corporation in 2021. This state-of-the-art CT-type X-ray inspection device is highly acclaimed for its unparalleled speed and efficiency.

With a robust CAGR of 5.1% projected over the forecast period from 2022 to 2032, the global inspection machines market is expected to experience significant expansion. The global market is forecasted to rise from US$ 643.1 Million in 2022 to US$ 1,053.5 Million by 2032. There is a noticeable proliferation of inspection checkpoints along the entire production line, leading to an uptick in sales of inspection equipment. However, the integration of inspection equipment into the manufacturing and packaging line poses challenges due to the complexity of the machines and the demanding end-use environment.

On the contrary, it is anticipated that burgeoning market opportunities will emerge from investments in Research and Development (R&D) activities, particularly in the biotech and pharmaceutical sectors. As these industries invest in advancing technologies, the demand for sophisticated inspection machines is likely to grow, contributing to the overall market expansion.

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Anticipated advancements in research studies, coupled with innovative product development and launches, are expected to significantly propel the growth of the inspection machines market. In 2021, OMRON Corporation introduced the VT-X750-V3 system, heralded as the fastest CT-type X-ray inspection device, showcasing the industry’s commitment to cutting-edge technology.

Several key market players have also contributed to this momentum by unveiling their OEM product range featuring X-ray technologies tailored for both industrial and pre-clinical X-ray imaging systems. This strategic move aims to address the evolving needs of diverse sectors and enhance the overall efficiency of inspection processes.

In recent years, a groundbreaking concept has emerged in the form of non-destructive testing devices utilizing a novel carbon nanotube (CNT)-based miniature X-ray tube. This pioneering technology is poised to revolutionize the landscape of inspection machines, particularly in facilitating small-scale internal examinations of objects. The introduction of such advancements is expected to drive increased adoption of inspection machines, further solidifying their role in various industries.Top of Form

Key Takeaways:

  • Product recalls have been surging due to unearthed issues including such cases when it is defective or at risk of health or both. Furthermore, rising regulatory compliance with good manufacturing practices (GMP) is contributing to the presence of major governmental and non-governmental authorities that inspect the final products deployed in the market by manufacturers. These factors are expected to propel the demand for inspection machines.
  • Within the pharmaceutical sector, several regulatory agencies such as the Food and Drug Administration (FDA), European Medicines Agency, and the Pharmaceuticals and Medical Devices Agency carefully monitor the compliance of manufacturers with Current Good Manufacturing Practice (CGMP) regulations to ensure the quality of drugs and medical devices. These regulations are important as they ensure product safety, and the claims of ingredients provided are verifiable.
  • The prominence of CMOs and CROs has surged in manufacturing and packaging due to the possibility of reducing timeframes with simultaneously offering external validation and expertise. Since contract manufacturers have specialized teams that can efficiently grasp client quality standards are now known to be a valuable source for OEMs. These aforementioned factors are likely to accelerate the growth of the inspection machines market share.
  • Developing markets have witnessed a surge within the unorganized healthcare systems. Due to this, the lack of adequate infrastructure and poverty limit the expansion of the industry. Additionally, there has been an increase in the demand for refurbished machines, although these machines are expensive. These factors are expected to hinder the global market growth.

Competitive Landscape

The inspection machines market share is predicted to increase as manufacturers are searching to expand their production and presence all over the market through several strategic tactics such as various collaborations and product launches. Furthermore, the industry is becoming highly competitive amongst market players in terms of product variation and pricing.

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More Insights into the Inspection Machines Market

North America is expected to witness lucrative growth opportunities over the projection period by accounting for a total revenue of around 23.5%. This has been attributed to several types of research that have been conducted over the years based on the importance of the inspection of devices during manufacturing.

Sound manufacturing practices must be inherently built right into the manufacturing process since they are unable to get tested on individual batches of products. Therefore, the inspection machines market growth is anticipated to propel attributing to such research to emphasize the importance of GMP.

Prominent market players are focusing on introducing technologically advanced gadgets with systems such as the In-Sight 3D-L4000 embedded vision system. It allows engineers to be quicker and more accurate and cost-effectively solve a range of inspections on automated production lines through the implementation of 3D laser displacement technology.

Owing to rising technological advancements, recently, a new concept for a non-destruction device has emerged which is based on an X-ray tube. With the help of carbon nanotube-based miniature x-ray tubes, such devices are gaining traction in the global inspection machines market. These technological advancements are expected to bolster market growth over the projection period.

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Key Segments Profiled in the Inspection Machines Market Survey

By Packaging Type:

  • Blisters
  • Ampoules
  • Syringes
  • Vials

By Machines:

  • Colour Sorters
  • Checkweighers
  • Metal Detectors

By End User:

  • Pharmaceuticals
  • Medical Devices

By Region:

  • North America
  • Latin America
  • Asia Pacific
  • MEA
  • Europe

About Future Market Insights (FMI)

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

Contact Us :

Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
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T: +1-845-579-5705
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Material Handling Equipment Market: CAGR of 4.5% and US$ 6,555.9 Million Forecast by 2033

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

The Material Handling Equipment Market is currently witnessing a significant upsurge in demand, driven by various factors aimed at enhancing customer service, optimizing operations, and improving overall productivity. This growth is primarily attributed to the numerous advantages offered by material handling equipment, including the reduction of transit-related damages and substantial time savings in the transfer of goods.

According to a comprehensive analysis by Future Market Insights (FMI), the global material handling equipment market is projected to achieve a valuation of US$ 4,411.5 million in 2023. FMI’s in-depth assessment further predicts a stable CAGR of 4.5% during the period from 2023 to 2033, culminating in a market valuation of US$ 6,555.9 million.

The anticipated surge in material handling equipment sales between 2023 and 2033 presents an additional opportunity valued at US$ 6,555.9 million. This growth is attributed to the expanding global industrial sector, driving the heightened demand for advanced material handling equipment.

In summary, the forecasted trends underscore the industry’s resilience and potential for substantial expansion, underlining the pivotal role material handling equipment plays in meeting the evolving needs of diverse industries.

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Manufacturers, factory owners, and industry professionals are actively seeking ways to streamline and optimize the labor-intensive processes involved in goods and product transportation. The evolution of key industries such as transportation, agriculture, courier services, shipping, and machinery is significantly contributing to the growing demand for material handling equipment on the global stage.

The escalating adoption of material handling equipment is fundamentally driven by the imperative to elevate customer service standards, enhance overall operational efficiency, and mitigate the risks associated with product damage. Leveraging such equipment can significantly reduce the time required for the seamless transfer of goods between locations, concurrently minimizing the inherent risks of damage during transit.

These strategic considerations, among others, are poised to fuel the expansion of the material handling equipment market throughout the forecast period. As industries continue to prioritize efficiency, productivity, and risk mitigation, the demand for advanced material handling solutions is anticipated to experience sustained growth.


“Increasing automation of various industrial verticals is expected to propel the global growth of the material handling equipment market over the forecast period,” says an FMI analyst.

Key Takeaways:

  • High initial and maintenance costs may hamper the market growth.
  • In 2023, North America’s material handling equipment market will hold 27.3% of the market share.
  • The material handling equipment market in the Asia Pacific region will account for 21% of the overall market share in 2023.
  • By product type, the industrial trucks and lifts segment will dominate the market space.
  • Many start-ups in the material handling equipment market are focusing on product innovation.

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Competitive Landscape 

Liebherr Group, KION Group AG, Jungheinrich AG, Viastore Systems GmbH, WITRON Logistik + Informatik GmbH, Eisenmann AG, Beumer Maschinenfabrik GmbH, Jervis B. Webb Company, Columbus McKinnon Corporation, Crown Equipment Corporation, Hyster-Yale Materials Handling, Hytrol Conveyor Co., Inc., Manitowoc Company, Inc., Xuzhou Heavy Machinery Co., Ltd., and Toyota Industries Corporation among others are some of the major players in the material handling equipment market profiled in the full version of the report.

Leading market participants are keen on expanding their capacities and resources to meet the growing demands. These businesses also employ tactics like strategic partnerships and joint ventures to strengthen their market position.

More Insights into Material Handling Equipment Market Report

In its latest report, FMI offers an unbiased analysis of the global material handling equipment market, providing historical data from 2017 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of product type (conveying equipment, industrial trucks & lifts, hoist, cranes & monorails, automated material handling equipment), end use (aerospace, agriculture, air cargo, automotive, building & construction, electrical & electronic equipment, industrial machinery, shipping industry, warehousing, postal/ express delivery, other industries), and region.

According to the latest FMI reports, based on segmentation, the trucks and lifts segment is expected to make significant contributions to the overall market growth. This segment is in high demand due to its use in transferring products and materials to distant areas of factories and industries. This segment enables easy and seamless material handling without any personal contact with the staff.

Based on region, the material handling equipment market in North America will present significant growth. In 2022, this regional market will account for 27.3% of the overall market share. A well-established and growing e-commerce sector along with the growing adoption of automation is expected to drive the material handling equipment market to grow in this region during the projected period. Europe and Asia Pacific will also present notable growth in the material handling equipment market during 2022-2032.

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Key Segments Covered in the Material Handling Equipment Industry Analysis

Material Handling Equipment Market by Product Type:

  • Conveying Equipment
  • Industrial Trucks & Lifts
  • Hoist
  • Cranes & Monorails
  • Automated Material Handling Equipment

Material Handling Equipment Market by End Use:

  • Aerospace
  • Agriculture
  • Air Cargo
  • Automotive
  • Building and Construction
  • Electrical & Electronic Equipment
  • Industrial Machinery
  • Shipping Industry
  • Warehousing
  • Postal/Express Delivery
  • Other industries

Material Handling Equipment Market by Region:

  • North America Material Handling Equipment Market
  • Latin America Material Handling Equipment Market
  • Europe Material Handling Equipment Market
  • Asia Pacific Material Handling Equipment Market
  • Middle East & Africa Material Handling Equipment Market

About Future Market Insights (FMI)

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

Contact Us:

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

Liquid Filled Transformer Market Growth Analysis: 4.3% CAGR and US$ 24.9 Billion Projection by 2033

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

The global Liquid Filled Transformer Market is positioned for significant expansion, with a projected valuation of US$ 16.3 billion in 2023 and an anticipated Compound Annual Growth Rate (CAGR) of 4.3% over the ensuing decade. This trajectory is expected to lead to a substantial valuation of US$ 24.9 billion by the year 2033. The exponential growth in this sector can be attributed to the increasingly widespread application of transformers across residential, commercial, and industrial domains, underscoring their pivotal role as essential elements within contemporary power distribution systems.

Top of Form

Transformers: Powering the Future

Transformers, indispensable electrical devices designed for the conversion of electrical energy between different voltage levels, exist in two predominant configurations: liquid-immersed and dry transformers. Liquid-filled transformers, celebrated for their exceptional efficiency and reliability, incorporate a distinctive cooling mechanism to facilitate the seamless conversion of voltage and efficient energy distribution, thereby distinguishing them from their dry counterparts.

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Driving Factors: Paving the Way

The escalation in global electricity demand, particularly across residential, commercial, and industrial sectors, serves as a pivotal catalyst propelling the liquid-filled transformer market to new heights. The ongoing global shift towards renewable energy sources and the implementation of smart energy grids further augments this demand, with liquid-filled transformers standing out for their superior insulation and cooling capabilities compared to their dry counterparts.

In the realm of power transmission and distribution activities, North America emerges as a frontrunner, commanding a substantial 22.7% market share in the global liquid-filled transformer market. This dominance is reinforced by strategic government investments in electricity production and the increasing adoption of consumer devices driven by rising disposable incomes. The thriving building and industrial sectors in North America, spurred by economic expansion, industrialization, and urbanization, contribute significantly to the robust sales growth of liquid-filled transformers in the region.

Key Players in the Market

In this dynamic market landscape, new entrants are continuously forging collaborations and intensively investing in research and development to offer innovative solutions to various industry verticals. Leading the charge are startups such as

  • DAELIM BELEFIC Tech Co. Ltd,
  • Kay Pee Corporation,
  • Servokon Systems Ltd,
  • Asian Power.
  • DAELIM BELEFIC Tech Co.

Kay Pee Corporation: Based in Surat, Gujarat, Kay Pee Corporation stands as a reliable manufacturer and supplier of a comprehensive range of Electric Transformers, Voltage Stabilizers, Testing panels, and more. Their precision-engineered products are designed to meet diverse client requirements, reflecting their commitment to excellence.

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Liquid Filled Transformer Market by Segmentation

By Type:

  • Seed Oil Filled Transformer
  • Mineral Oil Filled Transformer
  • Other Types

By Application:

  • Residential Applications
  • Commercial Applications
  • Industrial Applications

By Installation:

  • Indoor
  • Outdoor

By Region:

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

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About Future Market Insights (FMI)

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

Contact Us:

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