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FMI Analysis States Global Commercial Microwave Oven Market Valuation to Cross US$ 3,263.3 Million Mark by 2033, Driving a Steady 4.3% CAGR

The global commercial microwave ovens market is positioned for significant success in the year 2023, with an anticipated value of US$ 2,137 million. Future Market Insights projects substantial growth for this market, forecasting a steady Compound Annual Growth Rate (CAGR) of 4.3% between 2023 and 2033. This growth trajectory is expected to drive the market to an impressive valuation of approximately US$ 3,263.3 million by 2033.

Commercial kitchens, prevalent across diverse settings such as full-service and quick-service restaurants, hotels, and hospitals, are known for their intensive energy consumption. Notably, their energy consumption is approximately three times higher per square foot compared to most other types of commercial buildings. Recognizing the significance of energy costs, which constitute a substantial portion—approximately 25%-30%—of the total operating expenses for these establishments, adds a critical dimension to the market landscape.

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Emerging Trends in Microwave-Compatible Packaging and Innovations in Commercial Ovens:

The adoption of microwave-friendly packaging is on the rise, emphasizing the importance of selecting appropriate food containers for use with commercial microwave ovens. It is essential to avoid metallic elements within microwaves, as they can cause explosions during radiation heating.

Materials used for packaging ready-to-eat and on-the-go food items are evolving to be microwave-friendly. Food service establishments can utilize these containers to microwave raw foods without additional utensils, saving time.

The utilization of such products results in higher power consumption, where both wattage and usage hours impact the electricity consumed. Energy utility companies charge based on the kilowatt hours used.

New features are being integrated into commercial microwave ovens entering the global market. Both residential and commercial customers are showing interest in combi ovens, which combine grills and convection microwave functionalities. The trend is shifting towards multipurpose microwave ovens that facilitate oil-free cooking due to rising health concerns.

Key Insights:

The global commercial microwave ovens market reached a value of US$ 1,126.3 Million by the end of 2022.
Market demand grew at a Compound Annual Growth Rate (CAGR) of 3.4% from 2018 to 2022.
Asia-Pacific is expected to witness the highest CAGR of 4.17%.
North America’s microwave oven market is forecasted to achieve a CAGR of 4% during the projected period.
Countertop models contribute significantly to the market, projected to grow at a CAGR of 4.7% throughout the forecast period.
Bakeries are likely to account for the highest sales of commercial microwave ovens in the coming decade.

Competitive Landscape:

Some of the prominent players in the global market are:

Tuxton
CTDream
SignMission
Careform
Amana Commercial Microwaves
Galaxy
Solwave
Panasonic
Vollrath
Midea
Menu Master
Sentinel
Waring

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Key Players’ Noteworthy Developments:

In January 2023, Panasonic showcased its range of energy-efficient lifestyle products, advancements in e-mobility for electric vehicles and roadways, and initiatives for creating carbon-neutral communities at CES 2023. The company’s exhibition at CES was organized into four main areas: Park, Town, Mobility, and Home.

The booth’s design aimed to depict a more intelligent, eco-friendly, and interconnected world, illustrating Panasonic’s role in addressing matters related to personal well-being, community safety, and the sustainable future of our planet. Each section highlighted how Panasonic is contributing to transformative change aligned with its GREEN IMPACT initiative, which aims to globally reduce CO2 emissions.

Key Segments Profiled in the Commercial Microwave Ovens Market:

By Category:

Counter-Top Microwave Ovens
Over-The-Range Microwave Ovens

By Usage Type:

Light Duty (Upto 1200 Watts)
Medium Duty (1200-2000 Watts)
Heavy Duty (Above 2000 Watts)

By Control Type:

Dial
Touch Pad/Push Button

By Application:

Hotel
Restaurants
Cafes
Bakeries
Others

By Distribution channel:

Offline stores
- Hypermarkets / Supermarkets
- Multi brand store
- Specialty store
Online retail store

By Regional:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

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Author:

Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.

Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

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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FMI Study Affirms Global Extrusion Equipment Market to Surpass US$ 8,764.6 Million Mark by 2032, Driving a Steady 5.3% CAGR Growth

The global extrusion equipment market is set to witness a substantial compound annual growth rate (CAGR) of 5.3% throughout the forecast period, with a targeted valuation of US$ 8,764.6 million by 2032, showcasing significant expansion from its 2022 value of US$ 5,243.7 million.

The surge in demand for extrusion equipment across diverse industries can be attributed to several pivotal factors. A primary catalyst is the rising need for extruded products. The versatility of extrusion, facilitating the production of intricate shapes and profiles, coupled with its efficiency in large-scale manufacturing, has spurred the growing demand for extrusion equipment. Its applications span a wide spectrum of industries, encompassing food and beverages, plastics, automotive, and construction, among others.

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Extrusion Equipment Market Dynamics and Trends:

The extrusion equipment market is generally driven by end use industries such as food, consumer goods, pharmaceuticals, refractory materials, etc. where the extruded products are manufactured. Operation on optimal loads and flexibility in design orientation of feedstock materials are being focused by extrusion equipment manufacturers. These are the trends currently prevailing in the extrusion equipment manufacturing segment. This aspect has been regularly acted upon by OEMs via product development programs. The market however, could be restrained only due to lack of growth and expansion in the end use industries in regions such as Europe and U.S.
The extrusion equipment market has business potential in the form of maintenance and service aspects, post initial purchase and installation. Product support and services are provided by OEMs, suppliers as well as distributors. Price, product features, after sales service and sales distribution network are the key defining parameters for a company to sustain its business in the competitive market.

Extrusion Equipment Market: Regional Analysis and Outlook

The OEMs related to extrusion equipment market are mainly based in Asia Pacific particularly in China, U.S. and Europe owing to the end industry development, strong sales and distribution channels and their established technical know-how in end use industries. The Asia Pacific end use market alone is expected to drive a significant growth rate of industrial equipment especially in the field of consumer goods, food products and pharmaceutical industry. In pharmaceutical industry, extrusion is done using nano-porous, polymeric filters with a specific size of narrow-size distribution.
Latin America is also expected to augment the market demand in terms of development in food, pharmaceutical industry as well. The extrusion equipment market would also benefit significantly from the renewable energy sector across the globe with biomass extrudes used as feedstock. The extrusion equipment market is expected to witness a decent growth during the forecast period, 2022-2032.

Extrusion Equipment Market: Market Participants

The competitive landscape for Extrusion Equipment Market is majorly marked by the presence of large players as well as small scale players. Some of the market participants involved in the global Extrusion equipment market are: Milacron, RDN Manufacturing Co., Inc., Coperion GmbH, Conair Group, Toshiba Machine Co., Ltd., HPM, Krauss Maffei and Thermo Fischer Scientific Inc. along with other mid-small scale OEMs and regional enterprises.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.

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Key Segments:

By Product Type:

Single Screw Extruders
Twin Screw Extruders
Downstream Equipment

By Load Type:

Variable
Hydrostatic

By Press Position:

Horizontal
Vertical

By End User:

Plastic Goods
Processed Food
Pharmaceutical
Non-Conventional Energy
Construction Materials

By Region:

North America
Latin America
Asia Pacific
MEA
Europe

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Author:

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

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

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

About Future Market Insights (FMI)

Contact Us:

Nandini Singh Sawlani

FMI Research Forecasts Global External Combustion Engine Market to Exceed US$ 889.0 Million Valuation by 2032, Driving a Steady 3.9% CAGR

The global external combustion engine market is poised to experience a robust Compound Annual Growth Rate (CAGR) of 3.9% throughout the forecast period. Initial projections suggest a market value of approximately US$ 604.3 million in 2022, with a significant ascent anticipated to achieve an estimated valuation of US$ 889.0 million by 2032.

The heightened demand for external combustion engines can be attributed to their distinctive operational principle, characterized by compressing external fuel through a heat exchanger or engine wall, facilitating combustion. This unique approach positions them as highly suitable for specific applications, setting them apart from internal combustion engines.

The upward trajectory observed in the external combustion engine market underscores the industry’s steadfast commitment to innovation and the widespread adoption of environmentally sustainable power generation solutions.

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Advancing and Constraint Factors in the External Combustion System Market:

Drivers:

Due to its flexibility in arrangement and ability to use any source of heat, the market for external combustion systems is anticipated to grow over the course of the forecast period. Fuel is burned by the engine outside of the power cylinder, which is anticipated to play a significant role during the forecast period.

Additionally, external combustion engines use heat from sources like solar, geothermal, biomass, or municipal waste. These elements support the market’s expansion during the anticipated period. Additionally, flexibility in an arrangement is possible to further support the external combustion engine over the forecast period due to external combustion.

Aside from that, the market is being driven by the various advantages of external combustion systems, such as continuous external combustion, which lowers emissions and eliminates the exhaust of high-pressure combustion products.

Restraints:

It is expected that the long startup times of external combustion engines will restrain the market’s growth over the forecast period. Furthermore, risk factors like the boiler bursting due to too much steam pressure have compelled the end users to endorse alternative machinery.

During the forecast period, this action is anticipated to restrain the market’s expansion for external combustion engines. Over the course of the forecast period, it is also anticipated that the external combustion engine’s high investment costs and poor efficiency will restrain market expansion.

Analysis of Asia Pacific External Combustion Engine Market:

During the forecast period, the Asia Pacific region will primarily dominate the market for external combustion engines. Due to the region’s rapid industrialization and expanding number of power plants, nations like China, India, and Japan are experiencing rapid economic growth.

Additionally, over the course of the forecast period, the marine industry in the APAC region experienced significant growth, which significantly boosted the market for external combustion engines. Over the course of the forecast period, the APAC region’s external combustion engine market is anticipated to experience strong growth.

Condition of North American & Europe Regions in the External Combustion Engine:

Due to the region’s growing need for external combustion engines for a variety of applications, including pumps, ships, power plants,., North America is a significant market for these engines. Out of all the regions, North America will hold 18% of the market during the forecast period.

On the other hand, the external combustion engine market is also expanding steadily in the Europe region, gaining 22% of the market during the forecast period. The region’s market is being driven by expanding industrialization and major thermal plant construction. Due to the increasing use of external combustion engines in recent years and the UK’s position as a leading nation, the market is growing quickly.

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Key Players Profiled in Report:

Stirling Thermal Motors Inc.
Deere & Company
Sterling Power Systems
Aisin Seiki Co. Ltd.
Genoastirling S.r.lw
Microgen Engine Corporation
Sunpower Inc.
Saab AB
Reliable Steam Engine Co.

Key Segments

By Product Type:

Steam Engine
Stirling Engine

By Application:

Pump
Ship
Thermal Power Plant
Train
Nuclear Power Plant

By Region:

North America
Latin America
Asia Pacific
Middle East and Africa
Europe

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Author:

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

About Future Market Insights (FMI)

Contact Us:

Nandini Singh Sawlani

FMI Analysis Predicts Global Solar Microinverter Market Set to Cross US$ 5,716.0 Million Revenue by 2032, Driving an Outstanding 18.1% CAGR Growth

The global solar microinverter market is poised to achieve an impressive Compound Annual Growth Rate (CAGR) of 18.1% from 2022 to 2032, projecting a valuation surpassing US$ 5,716.0 million by the end of the decade. This remarkable surge not only reflects the increasing adoption of solar energy but also underscores the pivotal role that microinverters play in the intricate solar ecosystem.

Amidst this growth narrative, a significant trend takes center stage: the integrated system category is positioned to command over 8% of the global solar microinverter market share in 2022. Integrated systems, seamlessly combining solar panels and microinverters, are gaining considerable traction due to their simplicity and efficiency. They play a crucial role in democratizing solar energy access, extending their impact into residential and commercial sectors, particularly in emerging economies.

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Rapid Expansion Predicted for Solar Microinverters Market Amidst Growing Investments in Renewable Technologies:

The solar microinverters market is poised for remarkable growth, propelled by advanced technical advantages over traditional alternatives, catalyzed by increasing investments in renewable energy technologies. Established solar inverter market leaders are swiftly acquiring microinverter-focused small and medium-sized enterprises (SMEs) and capital-funded startups. According to FMI, diversifying product portfolios is imperative for solar microinverter installation companies and module firms to secure a competitive edge.

With its high energy yield, module-level monitoring capabilities, and safety enhancements, solar microinverters are anticipated to experience escalating demand from residential and commercial sectors. The market captures 12-16% of the global solar inverter market, as indicated by FMI.

Growing environmental consciousness, coupled with stringent regulations against non-renewable power generation methods to address power shortages, is driving global demand for solar microinverters. The upsurge in residential and commercial sector growth, especially in emerging economies, is fostering solar panel installations and subsequently boosting sales of solar microinverters.

Competitive Landscape:

Leading solar microinverter manufacturers are under increasing pressure to enhance product reliability and efficiency to meet rising demand for eco-friendly solar solutions. Manufacturers are expanding their market presence through innovative product launches and collaborative initiatives to make environmentally conscious solar microinverters more accessible to consumers.

More Insights into the Solar Microinverter Market:

The surging use of solar photovoltaics in residential spaces in the U.S. has been primarily elevated due to the electricity cost savings, surging demand for an alternative electricity source, and urgent need to reduce the risk of climate change.

The optimal reason for driving the demand for solar energy in abundance is the rising need for solar energy that the traditional power sources in the U.S., which is anticipated to boost sales of solar microinverters. It is estimated that the U.S. will generate roughly 34.8% of the global solar microinverter market share during the projected timeframe.

The German solar microinverter market is predicted to acquire a larger share of the market with nearly 7.5% throughout the assessment period. The market for solar microinverters in the country is anticipated to be valued at about US$ 463.0 Mn in 2032.

Widespread awareness about sustainable energy options and surging electrification across end-use sectors all over the world are likely to propel growth in the market. In addition to that, increasing demand for solar microinverters from the residential and commercial sectors is anticipated to accelerate the solar microinverter market in the country.

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Key Players Profiled in Report:

Enphase Energy Inc.
Altenergy Power Systems Inc.
SMA Solar Technology AG
ABB Ltd.
SunPower Corporations
Darfon Electronics Corporation
Northern Electric and Power Co. Ltd.
Sparq Systems
Chilicon Power, LLC
iEnergy Co. Ltd

Key Segments Covered in Solar Microinverter Industry Analysis:

By System Type:

Standalone
Integrated

By End Use:

Residential
Commercial
Utility

By Region:

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

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Author:

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

About Future Market Insights (FMI)

Contact Us:

Nandini Singh Sawlani

Global Screw Compressor Market Valuation to Exceed US$ 22.10 Billion by 2034, Driven by Steady 3.4% CAGR Growth | FMI Prediction

The screw compressor market is poised to achieve a projected value of US$ 22.10 billion by 2034, sustaining a steady annual growth rate of 3.4%. This growth is primarily fueled by the pervasive influence of automation trends, driving the industry to unprecedented levels of success.

A significant contributing factor to the market’s evolution is the increasing demand for oil-free screw air compressors, which is causing a transformative shift profoundly impacting the market’s trajectory. The rising preference for oil-free variants is attributed to industries’ heightened emphasis on seamless and contamination-free operations. Recognized as the preferred choice, these compressors offer a reliable and efficient solution, effectively addressing challenges associated with oil contamination in critical applications.

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Driving Forces behind the Surge in Screw Compressor Demand:

The industrial landscape is undergoing a transformation, with the spotlight firmly fixed on the escalating demand for screw compressors. This surge can be attributed to a convergence of pivotal factors that are reshaping the market dynamics. The contemporary industrial arena requires more than just compressed air; it demands oil-free systems that exhibit heightened precision, efficiency, and capacity. As this requirement gains prominence, the allure of screw compressors intensifies.

One of the linchpins driving this trend is the pursuit of operational cost efficiencies. By streamlining processes and minimizing auxiliary equipment, industrial air compressor manufacturers are ushering in a new era of cost-effectiveness. The result is a propellant for the sales of screw compressors, as industries seek not just performance but also smart economics.

A pivotal transition is underway, as conventional equipment yields ground to the technological prowess of next-generation screw compressors. These marvels of engineering not only tout enhanced eco-friendliness but also boast seamless installation and remarkably affordable maintenance. The allure of leaving behind the complexities of traditional systems in favor of the simplicity and advanced capabilities of contemporary technology is proving irresistible to consumers.

“Increasing adoption of rotary screw compressors across various industries, along with increasing popularity of stationary compressors will boost demand in the market over the forecast period,” says an FMI analyst.

Key Takeaways:

Based on technology, demand for stationary compressors will create an absolute opportunity worth US$ 3.8 Bn over the forecast period.
In terms of end use, the energy and transmission sector will offer an absolute opportunity of more than US$ 1.4 Bn over the assessment period.
Sales of screw compressors in the U.S. will grow at a 2.7% CAGR through 2034.
China will dominate the East Asia screw compressor market, with demand growing at a 4.0 % CAGR over the forecast period.
India will emerge as a lucrative pocket, with sales projected to increase at a 3.7% CAGR over the assessment period.

Competition Landscape:

Top players in the screw compressor market are expected to hold around 65%-70% of the total market share. These players are likely to invest in new technology developments and expansion of their distribution networks to maintain their market presence.

Some of the key players operating in the market include Atlas Copco, Hitachi, Ingersoll Rand, Emerson Electric Co., Daikin Industries, Siemens, KOBELCO, IHI Rotating Machinery, KAESER, Boge Komressoren, and others.

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Global Screw Compressor Market by Category:

By Capacity:

Up to 5HP
5 to 50HP
50 to 250HP
Above 250HP

By Technology:

Stationary
- Oil Lubricated
- Oil-Free
Portable
- Oil Lubricated
- Oil-Free

By Stage:

Single Stage
Two-Stage
Multi-Stage

By Driver Type:

Liquid Driven
Gas Driven
Electric

By Type:

Belt Drive
Gear Drive

By End-Use:

Oil and Gas Industry
Chemical Industry
Energy and Transmission
Automotive and Aerospace
Mining and Minerals
Other Manufacturing Industry

By Region:

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

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Author:

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

About Future Market Insights (FMI)

Contact Us:

Nandini Singh Sawlani

Global Chocolate Bar Packaging Market Set to Reach US$ 1.29 Billion by 2034, Driven by Consumer Preferences and Sustainability Trends

The global chocolate bar packaging market is poised for substantial growth, with an estimated valuation of US$ 815.7 million in 2024, projected to escalate to US$ 1,291.2 million by 2034. The market is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 4.70% during the forecast period.

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Key Market Drivers:

Consumer Preferences for Convenience and Appealing Packaging: Growing consumer preferences for convenience, on-the-go snacking, and visually appealing packaging are driving the demand for innovative chocolate bar packaging solutions.
Focus on Sustainability: The global push toward sustainability and increasing awareness of environmental concerns are fueling the demand for sustainable and eco-friendly packaging solutions in the chocolate industry.
Advancements in Packaging Technology: Ongoing research in the packaging industry has led to the development of innovative packaging materials and designs, including resalable packs, interactive packaging, and premium finishes.
Rise of eCommerce: The booming eCommerce sector in emerging countries necessitates robust packaging solutions to ensure product safety during transportation, contributing to market growth.

Consumption Analysis of the Chocolate Bar Packaging Market:

Chocolate bar producers utilize packaging solutions to protect their products during transit, catering to growing consumer demand.
Retailers, including supermarkets, convenience stores, and specialty chocolate shops, seek packaging solutions to enhance shelf life and attract customers.
Local confectionery stores use packaging to elevate brand image and offer interactive designs.
Packaging solutions are also utilized in the production of vegan, premium, and artisanal chocolates, reflecting changing consumer preferences.
Gift shops and specialty stores leverage packaging solutions for effective wrapping, creating seasonal themes to attract customers during holidays and special occasions.

Key Players:

Some major players of the chocolate bar packaging market are Swiss Pac Pvt. Ltd., ATP – Engineering & Packaging, S.L, Futuristic Packaging Pvt. Ltd., Shantou Weiyi Packaging Co., Ltd., Baoding City Zhenghui Printing & Packing Industrial Co., Ltd., Shenzhen Dingqi Pack Co., Limited, Wenzhou Guoxin Packaging Co., Ltd., NITTOPACK CO., LTD., Tianjin Gorgeous Packing Material Co., Ltd., Shenzhen Proyu Technology Co., Limited, Jiangyin Sunkey Plastic Packaging Co., Ltd.

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Market Segmentation

Based on the types of materials used,

Paper
Plastic
LDPE
PVC
PET
PE
Foil
Aluminum

Based on the types of packaging,

Wrappers
Boxes
Secondary packaging (Pouches, Bags)

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
LinkedIn| Twitter| Blogs | YouTube

FMI Analysis Predicts North America Residential Ball Valves Market to be Valued at US$ 554.1 Million by 2032, Driving 5.6% CAGR Growth

The North America residential ball valves market is poised for significant growth, with Future Market Insights (FMI) projecting a notable Compound Annual Growth Rate (CAGR) of 5.6% from 2022 to 2032. By 2032, this dynamic market is anticipated to surpass a substantial valuation of US$ 554.1 million.

The increasing demand for residential ball valves in North America is driven by various factors, prominently influenced by the region’s ongoing urbanization and population distribution trends. Both the United States and Canada are characterized as highly urbanized nations, with over 80% of their populations residing in urban areas. This trend underscores the growing need for residential complexes such as apartments, townhouses, and villas.

The growth of the North America residential ball valve market highlights the crucial role these valves play in ensuring the efficiency and safety of residential water supply systems, thereby significantly contributing to the overall well-being of urban communities.

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Driving Forces for North America Residential Ball Valves Market:

The North American region has witnessed a population surge along with the expanding requirements of residential construction, marking key growth catalysts throughout the historical study period.

Consumer attitudes towards these devices are undergoing a shift, driven by a heightened consciousness about maintaining piping systems and engaging in water conservation efforts. In this context, Pressure Reducing Valves (PRVs) are expected to not only regulate flow but also incur lower maintenance costs for consumers. Responding to these evolving trends, manufacturers are channeling investments into research and development endeavors. This proactive approach aims to yield cutting-edge technologies and advanced products that align with and exceed consumer expectations.

Key Insights from Pressure Regulating Valves Market Analysis:

The market for direct operating Pressure Regulating Valves is poised to exhibit a notable growth with a value CAGR of 5.0%, reaching an estimated value of approximately US$ 772.5 million by 2032.
Among different end-use segments, Apartments and Condominiums are projected to present a substantial opportunity, translating into a dollar figure of US$ 295.4 million.
Within the North American Pressure Regulating Valves market, the Up to 2” inlet pressure type is anticipated to secure a majority share exceeding 50% by the close of the forecast period. This preference is attributed to its versatile application range and corresponding valuation.
In terms of country distribution, the U.S. is forecasted to assert its dominance, accounting for more than 80% of the market share by the conclusion of 2032. This prevailing trend is expected to persist throughout the forecast period.

Future Market Insights analyst remarked, “The accelerated growth of Pressure Regulating Valves market is propelled by the burgeoning residential construction sector and the enforcement of stringent energy-efficiency regulations, driven by the expanding North American population.”

Competitive Scenario in Pressure Regulating Valves Market:

The market exhibits a certain level of concentration, where leading players commanded a market share within the range of 55% to 65% of the total market revenue in 2021. Key players in this arena are dedicated to achieving a position of eminence by emphasizing operational efficiency and offering inventive product solutions that adhere to applied standards, thus aiming to secure a substantial stake in the market.

Prominent participants in this competitive landscape encompass Danfoss A/S, Watts Water Technologies, Inc., and Resideo Technologies Inc., among others.

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Manufacturing enterprises are strategically enhancing their market footprint by unveiling novel product offerings and fostering heightened collaboration.

In April 2022, Flomatic Valves unveiled its latest innovation, the Model 408S6 ball check valve, showcasing a comprehensive construction in 316 stainless steel.
In September 2020, Flomatic announced the augmentation of its ball check valve lineup, aligning with American Iron and Steel (AIS) compliance.

Key Segments Covered in Report:

By Valve Material:

Brass
Stainless Steel
PVC
Glass Fiber-Reinforced Polypropylene Ball Valve
Others

By Valve Type:

Floating
Trunnion Ball
Others

By Diameter:

3/8″
1/2″
3/4″
1″
1 ¼”
upto to 2″

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Author:

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

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Nandini Singh Sawlani

FMI States Global Dynamic Positioning Systems Market Projected to Reach US$ 10.3 Billion by 2032, Driven by Strong 11.6% CAGR

The global dynamic positioning systems market is poised for significant expansion, with projections indicating it will surpass a valuation of US$ 10.3 billion by 2032. This reflects a robust Compound Annual Growth Rate (CAGR) of 11.6%, starting from its 2022 value of US$ 8.2 billion.

A key driver propelling this substantial growth is the increasing demand for dynamic positioning systems, particularly notable in the Asia-Pacific region. This surge is primarily attributed to safety concerns associated with offshore oil and gas activities conducted in deep ocean waters. The Asia-Pacific region, characterized by significant geopolitical tensions among nations and boasting some of the world’s largest ports, has witnessed a notable rise in the necessity for dynamic positioning systems.

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Dynamic Positioning System Market: Drivers & Restraints

The prerequisite of advancement in technology (facilitates in deeper waters than vessels), increasing research & development initiatives by manufacturers is driving the demand of dynamic positioning systems. Dynamic positioning systems are better known for its safe and correct operations which are widely used for a variety of purposes in the offshore industry. It provides following benefits such as effective maritime operations, energy efficient system, helps in reducing operational costs and emissions, among others.

Rising maritime trade in Asia-Pacific and Middle-East Africa along with deep-sea excavations is the fundamental growth driver in the Dynamic Positioning system market. Ensuring safety operations and push from the government side is also helping in increasing the degree of awareness among the users. Additionally, growth in the shipping industry is also up surging with significant opportunities in this market. However, high implementation cost, lack of reliable communication and complexity in system are the major setback for the dynamic positioning system market.

Dynamic Positioning System Market: Region-wise Outlook

The global dynamic positioning system market is expected to register a CAGR of approximately 5 percent over the forecasted period 2022-2033. Depending upon geographic regions, global dynamic positioning system market is segmented into seven key regions: North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific, Japan, and Middle East & Africa. In terms of regions, Asia-Pacific accounts for the largest market share. Middle East and Africa market is projected to register a significant CAGR during the forecast period. Increasing maritime trade with technological updates is fueling the growth in Asia-Pacific and Middle East and Africa regions.

Countries such as China, Saudi Arabia, UAE, South Korea, Japan, Russia, among others is expected to witness an upsurge in the demand for DP systems. Eastern Europe and Latin America are also forecast to register a significant growth in the global dynamic positioning system market during the forecast period 2022-2033.

Dynamic Positioning System Market: Key Players

Moxa Inc.
Kongsberg Gruppen
Navis Engineering
Praxis Automation Technology B.V.
General Electric
Norr Systems Pte Ltd.
ABB
Marine Technologies, LLC
Wärtsilä
Rolls-Royce plc

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The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.

Market Segments Covered:

By Equipment Type:

Class 1
Class 2
Class 3

By Component:

Power System
DP Control System
Thruster System

By Application:

Passenger Vessels
Merchant Vessels
Platform Supply Vessels/Offshore Support Vessels
Naval Vessels and Operations

By Region:

North America
Latin America
Western Europe
Eastern Europe
APEJ
Japan
Middle East and Africa

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Author:

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

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Nandini Singh Sawlani

FMI Study Affirms Global Industrial Robots Market to Reach US$ 25,828.99 Million Valuation by 2033, Driven by an Outstanding 17.20% CAGR

The global industrial robots market is poised for exceptional growth, projected to exceed a valuation of US$ 25,828.99 million by 2033. Driving this remarkable expansion is a robust Compound Annual Growth Rate (CAGR) of 17.20%, starting from a 2023 valuation of US$ 5,282.40 million.

A significant catalyst behind this surge is the innovative concept of Robot-as-a-Service (RaaS), which is reshaping the landscape of factory automation technology. RaaS introduces a flexible and cost-effective approach for enterprises to seamlessly integrate robotics into their operations. By providing subscription-based robot services, businesses can avoid significant upfront investments in robotic equipment, thus conserving capital expenditures. This pioneering approach not only enhances financial adaptability but also empowers companies to respond swiftly and efficiently to market fluctuations.

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Key Takeaways from the Market Study:

By end use, electric and electrical industry is expected to procure 40% market share for industrial robots.
China is expected to account for 45% of the total Industrial Robots in 2022
U.S. is expected to hold 40% market share for industrial robots in 2022
France is expected to possess 30% market share for industrial robots

“Industrial robots have the potential to change the functioning of end user industries. Multitasking, precision and accuracy are making industrial robots a popular option across industries. This, in turn, is gaining traction for the same.” states an FMI analyst

Market Competition:

Key players in the industrial robot market are Denso Corporation, Kawasaki Heavy Industries, Brenton, LLC, Krones AG, Mitsubishi Electric Corporation, YASKAWA Electric Corporation, KUKA AG, Fanuc Corporation and ABB Limited.

Denso Corporation, a key player in the industrial robots market is focusing on studying the infrastructure and requirements of end user industries and designing industrial robots for the same.
Mitsubishi Electric Corporation, is focusing on research for designing industrial robots. The company is developing industrial robots that can carry out complex tasks easily.

About the Industrial Automation Domain at Future Market Insights:

The industrial automation domain team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with an objective 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.

Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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Key Segments Profiled in the Industrial Robots Industry Survey:

Industrial Robots by Product Type:

Industrial Robots by Articulated Robots
Industrial Robots by SCARA Robots
Industrial Robots by Parallel Robots
Industrial Robots by Cartesian Robots
Industrial Robots by Cylindrical Robots
Industrial Robots by Others

Industrial Robots by End Use:

Industrial Robots by Automotive
Industrial Robots by Electrical & Electronics
Industrial Robots by Metals & Machinery
Industrial Robots by Chemicals, Plastic & Rubber
Industrial Robots by Food & Beverages
Industrial Robots by Healthcare
Industrial Robots by Construction
Industrial Robots by Others

Industrial Robots by Applications:

Industrial Robots by Material Handling
Industrial Robots by Welding & Soldering
Industrial Robots by Assembly & Disassembly
Industrial Robots by Painting & Dispensing
Industrial Robots by Others

Industrial Robots by Technology:

Industrial Robots by Automatic
Industrial Robots by Semi- Automatic
Industrial Robots by Manual

Region:

North America Industrial Robots Market
Latin America Industrial Robots Market
Europe Industrial Robots Market
Asia Pacific Industrial Robots Market
Middle East & Africa Industrial Robots Market

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Author:

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

About Future Market Insights (FMI)

Contact Us:

Nandini Singh Sawlani

Global Paper Recycling Market Expected to Reach US$ 13.1 Billion by 2034, Driven by Environmental Awareness and Government Initiatives

The global paper recycling market is poised for significant growth, with projections indicating a value of US$ 7.5 billion in 2024, compared to US$ 7.1 billion in 2023. Over the period from 2024 to 2034, the market is expected to grow at a moderate rate, with a Compound Annual Growth Rate (CAGR) of 5.7%, reaching a value of US$ 13.1 billion by the end of the forecast period.

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Market Analysis:

The demand for recycled paper has surged, driven by its acceptance as a packaging product in various industries such as food & beverage and pharmaceutical. Environmental concerns have heightened, leading to a preference for paper usage over non-biodegradable plastic materials.

With growing aversion towards deforestation, there is a rapid shift towards using recycled paper, contributing to the market’s growth. Government initiatives play a significant role in driving demand for recycled paper by promoting its use and imposing strict regulations on non-biodegradable alternatives.

The production of recycled paper is diverse, ranging from personal use at homes to large-scale industrial plants. This wide scope for production and application presents ample opportunities for market growth.

Key Drivers of Market Growth:

Environmental Awareness: Increasing concerns about environmental sustainability have fueled the demand for recycled paper as an eco-friendly alternative to non-biodegradable materials.
Government Initiatives: Government efforts to promote the use of recycled paper through incentives and regulations have bolstered market growth and encouraged sustainable practices.
Preference for Sustainable Packaging: Industries across various sectors, including food & beverage and pharmaceuticals, are increasingly opting for sustainable packaging solutions, driving demand for recycled paper.

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The FMI’s report includes an interesting chapter on preliminary impact of the COVID-19 on the Paper Recycling market. This allows both leading and emerging market players to understand the market scenario during a crisis and aids them in making sound decisions to gain a distinct competitive edge.

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Competition Analysis

The FMI’s study presents a comprehensive analysis of global, regional, and country-level players active in the Paper Recycling market. Competitive information detailed in the Paper Recycling market report has been based on innovative product launches, distribution channels, local networks, industrial penetration, production methods, and revenue generation of each market player. Furthermore, growth strategies and mergers & acquisitions (M&A) activities associated with the players are enclosed in the Paper Recycling market report.

Key players covered in the report include:

Hanna Paper Recycling, Inc., International Paper Company, DS Smith Recycling Holding B.V., Waste Management Inc., WestRock Company, WM Recycle America, LLC, Sonoco Recycling LLC, Caraustar Industries, Inc., Pratt Industries, Inc., Saica Group, Ricova Recycling.

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Important Questions Answered in the Paper Recycling Market Report

Which end user remains the top revenue contributor in different regional markets?
At what rate has the global Paper Recycling market been expanding during the forecast period?
How will the global Paper Recycling market look like by the end of the forecast period?
What innovative strategies are adopted by Paper Recycling market players to stay ahead of the pack?
What are the restraints affecting the growth of the global Paper Recycling market?

Key Offerings of the Report

Growth Drivers and Opportunities: Comprehensive analysis on growth-driving factors and opportunities for market players in different regional markets
Recent Trends and Forecasts: Detailed assessment on the latest trends, technological developments, and forecasts for a 5-year or 10-year period.
Segmental Analysis: Extensive analysis on each segment and factors differentiating the role of these segments in market revenue forecasts and growth rate analysis
Regional Market Forecast: Thorough analysis of each regional market to arm stakeholders with necessary information to take critical decisions
Competitive Landscape: All-inclusive insights on both leading and emerging players vying for a slice of the Paper Recycling market