Market Research Blog – Page 3848 – New Product Development

Global Industrial Battery Charger Market Forecasts an 8.5% CAGR, Surpassing US$ 3.67 Billion by 2028, According to FMI

The global industrial battery charger market is anticipating an impressive Compound Annual Growth Rate (CAGR) of 8.5%. Having already surpassed the noteworthy milestone of US$ 2.25 billion in 2022, projections indicate a substantial increase to an impressive US$ 3.67 billion by 2028.

What sets this trajectory apart is the anticipated exponential growth spanning the 2022-2028 period, with sales forecasted to surge by a noteworthy 1.6 times. The driving force behind this surge is the escalating demand for secure, cost-effective, and sustainable energy grids. The deployment of industrial battery chargers assumes a pivotal role in this energy revolution, positioning itself as a cornerstone for progress towards a cleaner and more efficient energy future.

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Favorable Government Policies Boosting Uptake of Industrial Battery Chargers:

The expansion of energy distribution and transmission infrastructure, supported by favorable regulatory frameworks implemented by governments, along with the growing emphasis on sustainability through non-conventional energy sources, are key drivers fostering the widespread adoption of industrial battery chargers.

“The adoption rate of industrial battery chargers is poised for significant growth as electrification initiatives receive robust government backing. The increasing adoption of smart grid technologies across industries will further contribute to the preference for industrial battery chargers in the coming years,” comments a senior market research expert at FMI.

Governmental subsidies provided at regional and local levels to promote the use of energy systems based on alternative sources with cost-effective capital investments are complemented by the rising sales of new grid systems. This surge in new grid installations necessitates the integration of secondary or rechargeable batteries for efficient energy transmission and distribution. According to FMI’s report, this trend is expected to play a central role in driving the sales of industrial battery chargers in the foreseeable future.

Vendor Insights: Focus on Efficiency and Innovation Remains Paramount for Key Players

The landscape of the industrial battery chargers market is characterized by consolidation among competition. Leading companies within this market are directing their efforts towards delivering high-efficiency, user-friendly, and easily installable industrial battery chargers that can meet a diverse range of operational specifications.

Furthermore, a noteworthy trend among major industrial battery charger providers is their emphasis on ensuring compatibility with challenging environmental conditions. This strategic approach holds the potential to grant them a competitive advantage in the competitive industrial battery charger market.

Battery Service Hub (BSH) in the UK has been a significant contributor, offering industrial batteries, industrial battery chargers, and a variety of charging solutions for equipment like forklift trucks, EVs, access platforms, and floor cleaning machines. The company’s focus on delivering high-performance and efficient battery charging profiles is expected to continue. BSH stands out as a notable player in the rental battery charging solutions sector.

EnCharge Power Systems, based in the US, has introduced remote monitoring solutions for industrial battery charging, enabling seamless access to real-time data.

Storage Battery Systems, LLC (SBS) recently formed a partnership with Systems Sunlight S.A. for upcoming battery technologies. With the constant introduction of novel and sustainable battery technologies in the market, major players are likely to increase their research and development investments to innovate new battery charging technologies.

The comprehensive report by FMI features some of the key players active in the industrial battery charger market, including ABB Ltd., Hitachi Ltd., Exide Technologies, ENERSYS, Delta Q, Gs Yuasa International Ltd., AMETEK Inc., Sevcon, Crown Battery Manufacturing Company, Lester Electrical, AEG Power Solutions, and Kirloskar Electric Company, among others.

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Industrial Battery Chargers Market By Category:

Technology:

High Frequency Chargers/Switch Mode Based
SCR (Silicon Controlled Rectifier)/ Thyristor Based
Ferroresonant
Hybrid (SCR + Ferroresonant)

Battery Rated Voltage:

Up to 24V
48V
60V
110V
Above 110V

Output Charging Current:

15A-50A
51A-150A
151A-250A
251A-500A
Above 500A

Battery Type:

SLA Batteries
NiCd Batteries
Plante Batteries
Lithium Batteries

Configuration:

FC & BC (Float and Boost)
FC & FCBC (Float and Float cum Boost)
Dual FCBC (Dual Float cum Boost)
FCBC (Float cum Boost)

End-Use Sector:

Railways
Energy and Power
Mining
Manufacturing
IT and Data Centers
Marine
Telecommunications
Infrastructure
Oil & Gas

Region:

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific excluding Japan (APEJ)
Middle East & Africa
Japan

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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)

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

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Hydrostatic Testing Market Anticipates a Consistent 4.8% CAGR, Projecting a Valuation of US$ 771.9 Million by 2028, According to FMI Report

The hydrostatic testing market anticipates a steadfast year-on-year expansion of 4.8% by the year 2028, culminating in an estimated valuation of US$ 771.9 million. Anchored by a robust Compound Annual Growth Rate (CAGR) of 4.8%, spanning the period from 2022 to 2028, this upward trend is driven by the pivotal role of hydrostatic testing.

Future Market Insights Offers Biannual Comparative Analysis and In-depth Insight into Hydrostatic Testing Market Growth. The market’s trajectory is notably shaped by key industrial factors, including the upsurge in oil and gas exploration activities, heightened emphasis on pipeline safety, expanding downstream operations, and the ongoing trend of urbanization. These factors collectively contribute to an increased demand for pressure testing equipment and services within oil and gas facilities.

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Hydrostatic testing is a widely employed method for inspecting various pressurized components including meter skids, compressed gas cylinders, pressure relief valves, boilers, tubing, and pipelines. This technique not only assesses structural integrity but also effectively detects leaks within the tested equipment. It plays a vital role in determining the safety status for equipment reactivation.

With escalating demand across multiple end-use applications, North America is poised to maintain its prominence as a substantial hydrostatic testing market throughout the forecast period. Projections indicate a robust Compound Annual Growth Rate (CAGR) of 5.9% for the hydrostatic testing sector in the region. The methodology remains instrumental in testing low-pressure stainless steel canisters, ensuring leak-free operations during tests, and ascertaining equipment’s safety for subsequent usage.

Key Factors Driving Hydrostatic Testing Market:

Demand in Oil and Gas Industry:

High demand for hydrostatic testing in oil and gas sector, especially due to rigorous pipeline requirements for upstream and downstream exploration and drilling activities.
Pipeline failures’ potential economic, environmental, and human life impact contributes to the significant demand in the oil and gas industry.

Regional Significance:

North America and MEA (Middle East and Africa) play crucial roles in the hydrostatic testing market due to increased investments in oil and gas industry.
Growing oil reserves, particularly in MEA, spur demand for pipeline and vessel testing services, driving hydrostatic testing equipment demand.

Natural Gas Dynamics:

North America leads global natural gas production and consumption.
Rising natural gas consumption and safe pipeline operations sustain high demand for hydrostatic testing in North America.

Latin American Opportunities:

Mexico and Brazil witness rising investments in oil and gas exploration, creating opportunities for hydrostatic testing providers and foreign investors.
Latin America becomes a competitive market for hydrostatic testing due to increasing activities in the region.

Pumps Dominating Product Landscape:

Pumps, widely used test equipment, expected to claim over 75% of global hydrostatic testing market share by forecast period’s end.
Used for testing plumbing lines, pressure vessels, water meters, and systems across industries.

Powered Hydrostatic Testing Preference:

Powered hydrostatic testing to dominate due to its smooth operation compared to manual variants.
Positioned in the high growth – high value quadrant throughout the forecast period.

Market Competition and Strategies

Innovative Product Development:

Players in the hydrostatic testing market are emphasizing new product development for testing pipelines and pipe systems.
This strategy is anticipated to drive their growth trajectory in the market.

Regulatory Opportunities:

Government regulations, including U.S. DOT and PHMSA, are predicted to open growth avenues in the hydrostatic testing market.

Key Market Players:

Major participants in the global hydrostatic testing market encompass Curtiss-Wright Corporation, Galiso Inc., Rice Hydro, H. Lorimer Corp, and Cosmo Instruments Company Limited.

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Hydrostatic Testing Market by Category:

By Product Type:

Pumps
Pressure Gauges
Master Gauges
Backup Gauges
Relief Valves
Others

By Design:

Manual
Powered
Gas
Electric
Diesel
Pneumatic

By Output Pressure:

Below 35 Bar
35-200 Bar
200-400 Bar
Above 400 Bar

By End Use:

Oil & Gas
Plant Processing
Water
Aircraft
Construction
Fire & Safety
Others

By Region:

North America
Latin America
Western Europe
Eastern Europe
China
India
Japan
SEA & Pacific
MEA

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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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Global Microturbines Market Envisions a Striking 10.8% CAGR Surge by 2032, Embracing Compact Design and Sustainable Solutions

The global microturbines market is forecasting an impressive Compound Annual Growth Rate (CAGR) of 10.8% from 2022 to 2032. The allure of this trajectory is heightened by the deliberate focus of microturbine manufacturers on strategic opportunities emphasizing a compact design, lightweight construction, heightened efficiency, reduced emissions, cost-effective operation, and the remarkable ability to generate electricity from waste fuels.

Microturbines, distinguished by their small yet powerful nature, have emerged as pivotal contributors to waste heat recovery, showcasing efficiency levels exceeding 80%. This technological breakthrough seamlessly aligns with the global surge in energy consumption. Furthermore, as the world increasingly commits to sustainability and environmental stewardship, microturbines play a central role in championing clean, efficient, and environmentally responsible energy solutions for the future.

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Report Highlights:

The research study centers on power rating categorizations, spanning from 12 kW to 1000 kW, segmented as (12 – 50 kW, 50 – 250 kW, 250 – 500 kW, and 501 – 1000 kW). Further granularity is achieved through application classifications, encompassing Combined Heat and Power (CHP) as well as standby power. The study also examines end-user sectors, including industrial, commercial, and residential domains.

A focal point of the study revolves around the strategic emphasis of key participants on opportunities necessitating the development of highly efficient, lightweight products. This emphasis on enhanced efficiency coupled with compact dimensions is poised to introduce a distinctive dimension to the microturbines market landscape.

Notable Insights from the Microturbines Market:

North America Dominance: The apex position in the market is secured by North America, attributed to proactive endeavors by both private enterprises and government entities to transition away from coal power and nuclear plants. Stringent emission policies, particularly in the US, have catalyzed heightened microturbine installations, especially in Combined Heat and Power (CHP) applications.
European Surge: Europe is poised to make a substantial imprint in the market landscape, propelled by a flurry of projects on the horizon, including extensive CHP plant installations. Escalating concerns surrounding air pollution further fuel this momentum.
Asia-Pacific’s Swift Ascension: The Asia-Pacific region is set to experience rapid growth in the microturbines market during the forecast period. Countries like Australia, India, and China are at the forefront of this surge, witnessing a surge in microturbine installations.
MEA’s Renewable Momentum: The Middle East and Africa (MEA) exhibit a growth trajectory underpinned by the escalating adoption of renewable energy installations. Pioneering nations like Russia, the UK, and Germany are leading this charge, defining the region’s growth narrative.

Competitive Landscape: Noteworthy Developments

Capstone Green Energy Corporation made significant strides in December 2021, as its US-based distributor, Lone Star Power Solution, secured a contract to provide a Clean Heat and Power (CHP) energy system to an Alabama-based hospital. This innovative microturbine system boasts a substantial capacity of 600 kW.

In another breakthrough, during July 2021, Capstone Green Energy Corporation garnered attention by supplying two C65 microturbines to ‘Innovametal Stahl and Metallbau’. The microturbines are a pivotal component of an ultra-low emissions CHP system, with the contract being facilitated by Wels Storm GmbH. Notably, this system holds distinction as the first gas turbine system operating on hydrogen.

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Key Players:

Key players shaping the microturbines market landscape encompass Microturbine LLC, NewEnCo, Ansaldo Energia S.p.A, FlexEnergy, NewEnCo Ltd., Elliot Company Inc., and Ingersoll-Rand Company.

Key Segments:

By Power Rating:

12 kW–50 kW
50 kW–250 kW
250 kW–500 kW
501 kW-1000kW

By Application:

Combined Heat and Power (CHP)
Standby Power

By End User:

Industrial
Commercial
Residential

By Region:

North America
Latin America
Asia Pacific
Japan
Western Europe
Eastern Europe
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.

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Infrared Emitter & Receiver Market is Expected to Grow by US$ 480.0 million during 2023 to 2033, Accelerating at a CAGR of 7.6% during the forecast period | Future Market Insights, Inc.

The global infrared emitter & receiver market size reached US$ 231 million in 2022. By the end of 2032, total market valuation will exceed US$ 480.0 million. Global infrared & emitter sales are likely to surge at 7.6% CAGR from 2022 to 2032.

Most of the infrared emitter & receiver sales will remain concentrated in the healthcare industry. this is due to the adoption of IR emitters & receivers in modern medical devices. The target segment will register a CAGR of 7.2% from 2022 to 2032.

The rise adoption of infrared emitters & receivers in defense systems, medical devices, and mobile phones is a key factor driving the global market forward. Similarly, the growing popularity of IR sensors will boost sales through 2032.

Infrared emitters and receivers have become commonly used devices for controlling modern electronic devices wirelessly. These products work together in a variety of applications, most notably for non-contact sensing and measurement of temperature, proximity, and other parameters.

Defense applications such as surveillance, targeting, and missile guidance systems frequently employ infrared emitters and receivers.

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To detect and amplify the infrared radiation emitted by objects in the environment, infrared emitters and receivers can also be used in night vision systems. Similarly, IR emitters and receivers find applications in missile guidance systems.

Hence, the growing usage of IR emitter & receivers in various military and defense systems coupled with high defense spending will boost the global market through 2032.

Rising applications in consumer electronics such as smartphones will elevate infrared emitter & receiver demand over the next ten years.

Infrared emitters and receivers are being incorporated into mobile phones for a number of uses. This includes proximity sensing, gesture recognition, and facial and hand gesture recognition. Further, they find applications in TV remotes and AC remotes.

Hence, the burgeoning demand for smartphones and other electronic devices globally will fuel IR emitter & receiver sales during the projection period.

Key Takeaways from the Infrared Emitter & Receiver Market Report:

Global sales of infrared emitters & receivers will soar at 6% CAGR during the forecast period.
By wavelength range, the low-wave infrared segment is set to expand at 4% CAGR through 2032.
By end-user industry, the healthcare segment will exhibit a CAGR of 2% from 2022 to 2032.
The United States infrared emitter & receiver market will exceed a valuation of US$ 150.5 million by 2032.
Infrared emitter & receiver demand in China is forecast to increase at 6% CAGR through 2032.
The South Korea infrared emitter & receiver industry will expand at 0% CAGR between 2022 and 2032.
Japan’s infrared emitter & receiver market will reach US$ 34.7 million by the end of 2032.

“Increasing applications across thriving consumer electronics, healthcare, and defense sector will boost IR emitter & receiver sales through 2032. Smartphone technology is advancing at an accelerated rate, and increasingly offers features that require integration of IR emitters & receivers. Manufacturers would find it beneficial to look into innovations that offer detection of a wide range of motions, and find compatibility with smartphone technologies.”- says a Future Market Insights (FMI) analyst.

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Competitive Landscape

Leading manufacturers of infrared emitters & receivers include FLIR Systems, Wolfspeed, Inc., Honeywell International, Inc., Raytek Corporation, Texas Instruments Inc., Lite-On Technology Inc, Murata Manufacturing Co., Ltd, Rohm Co., Ltd, Osram Opto Semiconductors GmbH, and Vishay Intertechnology Inc.

These companies are committed to developing advanced products compatible with specific applications. They are also using strategies such as mergers, collaborations, acquisitions, partnerships, and agreements to gain a competitive edge in the market.

In July 2019, FLIR Systems announced the acquisition of New England Optical Systems (NEOS). This acquisition will expand the company’s product offering to complex infrared optical assemblies which can be used in drones, combat vehicles, astronomy, and military applications.

More Insights Available

Future Market Insights (FMI), in its new offering, presents an unbiased analysis of the infrared emitter & receiver market presenting historical data (2017 to 2021) and forecast statistics for the period from 2022 to 2032.

The study reveals market dynamics in terms of wavelength range (near-infrared, short wave infrared (SWIR), mid-wave infrared (MWIR), long wave infrared (LWIR), and far infrared ), application (security & surveillance, imaging, hunting & wildlife observation, hidden object finding, condition monitoring & inspection, sensing, detection & measurement, paranormal research, and spectroscopy), and end-user industry (automotive, construction, transportation & logistics, chemical, aerospace, consumer electronics, military & defense, law enforcement, and healthcare) across various regions.

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Global Infrared Emitter and Receiver Market Segmentation

By Wavelength Range:

Near Infrared
Short-wave Infrared – SWIR
Mid-wave Infrared – MWIR
Long-wave Infrared – LWIR
Far Infrared

By Application:

Security and Surveillance
Imaging
Hunting and Wild Life observation
Hidden Object Finding
Condition Monitoring and Inspection
Sensing, Detection, and Measurement
Paranormal Research
Spectroscopy

By End-User Industry:

Automotive
Construction
Transportation and Logistics
Chemical
Aerospace
Consumer Electronics
Military & Defense
Law Enforcement
Healthcare

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

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Author:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.

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Global Military Vehicles and Aircraft Simulations Market Poised for Remarkable Growth, Targeting a 7.1% CAGR and Eyeing a Valuation of US$ 8.4 Billion by 2032

The global military vehicles and aircraft simulations market charted an impressive course towards a projected valuation of US$ 5.9 billion in 2022. Positioned on an extraordinary growth trajectory, this market anticipates a remarkable surge to US$ 8.4 billion by 2032, driven by a robust Compound Annual Growth Rate (CAGR) of 7.1%.

This substantial growth is propelled by a diverse range of factors reshaping training and safety paradigms within the aviation industry. A pivotal catalyst behind this upward trajectory is an unwavering commitment to cost reduction in pilot training, fostering strategic advancements aimed

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Factors Influencing the Military Vehicles and Aircraft Simulations Market: Trends & Challenges

The integration of next-generation aircraft and the adoption of mission rehearsal and simulation technologies are progressing, finding applications across various military systems for cost-effective training. The commercialization of unmanned aerial vehicles (UAVs) is a prominent emerging trend, offering new avenues for market growth.

A pivotal driving force for the market is the increasing recognition of the advantages of virtual pilot training. Furthermore, the demand for skilled pilots and crew members, ongoing technological advancements, the surge in air transportation needs leading to heightened safety and security requirements, and cost benefits contribute to the growth of the military vehicles and aircraft simulations market. Government-led safety regulations and initiatives also contribute to elevating user awareness levels.

Global Military Vehicles and Aircraft Simulations Market: Regional Insights

The worldwide market for military vehicles and aircraft simulations is categorized into seven key regions: North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific, Japan, and Middle East & Africa. Among these regions, Europe stands out as the primary contributor to the market, boasting the largest market share, closely followed by North America.

The Asia Pacific market is poised to witness substantial growth with a noteworthy CAGR during the forecast period. The region’s growth is driven by an increasing demand for pilot training and a rising need for air transportation, coupled with ongoing technological advancements. Eastern Europe and Latin America are also anticipated to experience significant growth in the global military vehicles and aircraft simulations market, attributed to a growing awareness of pilot training within these regions as well.

Key Players in the Military Vehicles and Aircraft Simulation Market:

Several notable participants in the aircraft simulation sector include FLIGHTRiX (Command Sims Pvt. Ltd.), Presagis (formed through the amalgamation of three leading entities: Engenuity Technologies, MultiGen-Paradigm, and TERREX), Rheinmetall Defence, Alsim, Atlantis System Corp., CAE Inc., Bae Systems PLC, FlightSafety International Inc., Moog Inc., Simteq B.V., Lockheed Martin Corporation, Thales Group, Rockwell Collins, PMDG, Israel Aerospace Industries, ATC Flight Simulator, Mechtronix Inc., L-3 Communications Holdings Ltd., among others.

A significant portion of the prominent market participants are actively engaged in establishing distinctive brand identities and expanding their reach to encompass broader geographical regions, all with the aim of enlarging their customer networks. These entities are continuously enhancing their current product lineups through initiatives such as introducing novel simulators or enhancing the capabilities of existing models. Concurrently, a select group of companies are forming partnerships with leading global airlines to provide their proprietary products, thereby fortifying their market positions.

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The comprehensive research report offers a thorough evaluation of the market, encompassing insightful observations, historical data, statistically backed industry information, and validated market data. It also provides forecasts based on a suitable array of assumptions and methodologies. The research report delivers analysis and insights categorized by factors like market segments, geographical regions, types, technology, and applications.

Market Segmentation:

Type:

Virtual
Live
Constructive
Others

Application:

Platform
System and Maintenance

System:

Flight Simulation
Non-flight Simulation

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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Global Heat Interface Unit Market Expected to Reach US$ 10.3 Billion by 2032: Industry Insights and Growth Projections

The Heat Interface Unit (HIU) Market is poised for robust expansion, with an anticipated valuation of US$ 10.3 billion by 2032. Between 2022 and 2032, the market is projected to maintain a steady growth trajectory at a Compound Annual Growth Rate (CAGR) of 6.7%. In 2022, the global HIU market already demonstrated significant promise, recording a valuation of approximately US$ 5.4 billion.

Heat interface units, known for their exceptional energy efficiency, are designed to precisely regulate heat and hot water delivery to individual apartments based on occupants’ specific requirements. This not only ensures residents’ comfort but also minimizes energy wastage and excessive heating costs. The compact nature of HIUs is particularly advantageous in high-density housing developments, where space optimization is paramount. Developers can leverage HIUs to maximize living space within each apartment, a compelling selling point for potential buyers.

The cost-effectiveness of HIUs extends to installation and maintenance. These units can be swiftly and easily installed, and their remarkable reliability translates to minimal maintenance and repair needs. Furthermore, HIUs play a pivotal role in reducing carbon emissions and enhancing building sustainability. By incorporating renewable energy sources like heat pumps, developers can significantly curtail a building’s carbon footprint, aligning with growing environmental concerns.

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Key Takeaways:

The Heat Interface Unit Market is on a steady growth trajectory, projected to reach US$ 10.3 billion by 2032, with a CAGR of 6.7%.
HIUs offer precise heat and hot water regulation, optimizing energy usage and enhancing resident comfort.
Compact and cost-effective, HIUs are well-suited for high-density housing developments.
Government initiatives and environmental concerns are driving market growth.
Challenges include initial installation costs and the availability of renewable energy sources.
Europe leads in HIU adoption, followed by North America and Asia-Pacific, each with its unique dynamics.

Drivers and Opportunities:

Several factors are driving the growth of the Heat Interface Unit Market. The increasing focus on energy efficiency and sustainability in construction projects is a primary driver. HIUs offer an effective means to reduce energy consumption and promote environmentally friendly practices. Additionally, the burgeoning demand for high-density housing, particularly in urban areas, is bolstering the market. HIUs’ space-saving design aligns perfectly with the needs of such developments.

Rising awareness of the benefits of HIUs among consumers is expected to fuel demand further. As occupants seek more control over their heating and hot water usage, HIUs provide an ideal solution. Furthermore, government initiatives and regulations aimed at reducing carbon emissions are incentivizing the adoption of HIUs in residential and commercial buildings.

The competitive landscape of the Heat Interface Unit Market is characterized by regional trends, with variations in adoption and preferences across different geographical areas. In Europe, for instance, HIUs have gained widespread acceptance due to their alignment with the region’s stringent energy efficiency standards. In North America and Asia-Pacific, market players are increasingly investing in research and development to cater to evolving customer needs.

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Restraints:

Despite the promising growth prospects, the Heat Interface Unit Market faces certain challenges. The initial cost of HIU installation can be a barrier for some builders and developers, particularly in emerging markets. Moreover, the market’s growth is contingent on the availability and affordability of renewable energy sources like heat pumps.

Region-wise Insights – Category-wise Insights:

Europe: Europe dominates the HIU market, driven by stringent energy efficiency regulations and growing environmental consciousness. District heating systems are widely employed in this region, boosting HIU adoption.
North America: North America is witnessing a gradual increase in HIU adoption, primarily due to the rising demand for sustainable building solutions. The market is also influenced by government incentives.
Asia-Pacific: Asia-Pacific presents significant growth potential, with increasing urbanization and a burgeoning construction sector. The adoption of HIUs is expected to rise as awareness of energy efficiency grows.

Heat Interface Unit Market Outlook by Category

By Component:

Pumps
Sensors
Valves
Controllers
Heat Exchangers

By Product:

Indirect
Direct

By Application:

Commercial
Industrial
Residential

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

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Induction Motors Market is estimated to exceed worth of US$ 40.5 Billion by 2032, riding high on Investments in Renewable Energy Projects | Future Market Insights, Inc.

Induction motor Market sales are expected to total US$ 40.5 billion globally in 2032. A significant CAGR of 7.4% is anticipated between 2022 and 2032. In 2022, it was valued at about US$ 19.9 billion.

Induction motors do not need much maintenance or practically do not need any. One of the key factors driving up demand for these motors is the absence of slide rings, commuters, or brushes.

A fluctuating magnetic field formed in the stator and the current generated in rotor coils interact to produce torque in an AC electric motor known as an induction motor. In most machines, this kind of motor is chosen over traditional ones.

In comparison to conventional ones, it is stronger and more environmentally friendly. Due to its endurance and low maintenance requirements, it is a suitable choice for the manufacturing and automotive industries. Another important factor contributing to its rising popularity is its ability to function in a variety of weather situations.

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Rising emphasis on lowering greenhouse gas emissions and the desire for energy-efficient products are two main factors contributing to growing popularity of electric cars. According to the International Energy Agency (IEA), 2 million electric vehicle units were sold in the first quarter of 2022, a substantial increase over the previous year.

It was a 75 percent rise over the same time in 2021. Due to expansion of the EV industry, induction motor demand is anticipated to increase. These motors are sought by makers of electric vehicles (EVs) due to their durability, dependability, and need for little maintenance.

Consistent and significant expenditures in power generation are required to meet the surging demand for electricity to sustain global growth. Induction motor use has increased in the electricity sector as a result.

Significant prospects for energy savings and a drop in operating costs exist in both industrial facilities and buildings when electric motor systems are optimized. Motors use about 50% of the nation’s electricity, 90% of which is used by AC induction motors, according to the USA Department of Energy.

Key Takeaways from Induction Motors Market Study

The global induction motors market exhibited a CAGR of 8.3% in the historical period.
Asia Pacific induction motors market is projected to exhibit growth at a CAGR of around 48.0% in the estimated time frame.
The USA induction motors market is expected to surpass US$ 6.2 billion by 2032.
The industrial segment by end-use sector is set to augment at a CAGR of 7.2% from 2022 to 2032.
China induction motors market is likely to be valued at US$ 10.1 billion by 2032.

“Currently, industrial motors are important in numerous industrial applications since they increase a company’s productivity. The fundamental goal of numerous manufacturing organizations nowadays is to maximize production efficiency with induction motors.” – Says a lead analyst.

Competitive Landscape: Induction Motors Market

Top induction motor producers are improving their brand’s reputation and image through successful marketing and advertising efforts. They are also taking part in numerous trade shows and events.

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Key Players:

ABB
Ametek
Emerson Electric
Siemens
WEG
Brook Crompton
Danaher Corporation
Johnson Electric Holdings
Regal Rexnord
Toshiba Corp.
Hitachi Ltd.

A few well-known businesses are using digital technologies to improve supply chain management, streamline operations, and increase consumer interaction. In order to acquire access to new markets and clients, they are also forming partnerships and collaborations with regional businesses and distributors.

For instance,

In September 2019, WEG announced the launch of its latest M Mining Series of slip-ring induction motors. The M Mining Series is specifically designed to work without troubles in dusty environments such as iron ore operations.

Induction Motors Market Outlook by Category

By Product Type:

Single Phase Induction Motors
Three Phase Induction Motors

By End-use Sector:

Industrial
Commercial
Residential

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

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Digital Health Tracking Apps Market Thrives, Reaches $13.9 Billion in 2022, Poised for Further Growth in 2023

The Digital Health Tracking Apps Market, a vital component of the booming digital health sector, has exhibited impressive growth, reaching a valuation of US$ 13,943.7 million in 2022. This market is set to surge to an estimated value of US$ 15,904.1 million in 2023, indicating a burgeoning demand for health-tracking solutions worldwide.

The global Digital Health Tracking Apps Market is on a remarkable trajectory, projected to achieve a staggering worth of US$ 77,489.3 million by the end of 2033. This promising growth is expected to maintain a consistent pace, with a Compound Annual Growth Rate (CAGR) of 15.6% during the forecast period.

Popularity of digital health tracking apps has grown as a result of its accessibility and ease. These enable people to monitor their heart rates, control their regular exercise routines, and identify their sleeping patterns while relaxing on their own gadgets.

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Health applications could elevate the medical ecosystem’s commercial position and enhance user health outcomes. In the next ten years, it is predicted that penetration into new geographies will also help fuel a rise in terms of demand for digital health tracking apps.

Growth is further related to increasing in-app purchase demand and global virtual lives’ dependence on the uptake of mobile apps. Emphasis on maintaining a healthy lifestyle would also drive the need for fitness software.

The market is expanding due to increased smartphone usage globally and accelerating technical advancement. Increased data usage, widespread internet use, and easy availability of promotional offers such as subscription discounts are all contributing to the sector’s growth. Due to developments in information technology, operational models of the fitness industry are expected to experience a considerable shift throughout the evaluation period.

Fitness apps provide customers individualized diet, exercise, strolling, and sleep pattern regimens that don’t require any apparatus or equipment and are based on their daily schedules. They also make use of current innovations such as neural networks, data mining, and other cutting-edge new technologies. These programs continuously track human activity, making them a suitable way to keep tabs on health concerns with little to no human input.

Key Takeaways from Digital Health Tracking Apps Market Study

Based on platform, the android-based health apps segment held a digital health tracking apps industry share of about 55.8% in 2022.
The United States digital health tracking apps market is likely to account for a share of 67.8% in 2023.
India digital health tracking apps industry is projected to exhibit a CAGR of 21.1% over the estimated period.
By app category, the fitness management segment is anticipated to lead by holding the lion’s share of 19.1% in 2023.
In terms of revenue model, the in-app purchases category is set to expand at a CAGR of 17.6% in the forecast period.

“Owing to bad eating habits, junk food consumption, and unfavorable work-life stress, millennial and generation Z populations are worried about becoming overweight or obese. The main goals of freshly announced fitness apps are to measure weight loss achievements and provide solutions for mental health issues.” – Says a lead analyst.

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Competitive Landscape: Digital Health Tracking Apps Market

Digital health tracking app developers are adopting various strategies to improve user engagement, enhance functionality, and differentiate their products from competitors. They are leveraging machine learning and AI algorithms to provide personalized health insights & recommendations.

A few other companies are integrating their technologies with wearable devices & sensors to enable seamless data collection and analysis. They are also partnering up with healthcare providers and payers to offer value-added services such as telemedicine and remote monitoring.

For instance,

· In February 2023, the United Kingdom government officially started trials of a free fitness monitor. It is connected to an app and provides rewards to users with discount coupons and movie tickets for eating healthily and exercising more. With a 3-million-pound government investment, the Better Health: Rewards app is currently being tested in the West Midlands of England.

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Digital Health Tracking Apps Market Outlook by Category

By Platform:

Android-based Health Apps
iOS-based Health Apps

By App Category:

Fitness Management
Nutrition & Diet
Menstrual Tracking
Fertility Tracking
Sexual Self Care
Mental Health
Remote Patient Monitoring
Chronic Disease Monitoring
Medication Reminder
Others

By Revenue Model:

Subscription Model
In-app Purchase (Freemium)
One Time Purchase

By End User:

Men
Women

By Region:

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

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WAN Connected Returnable Transport Asset Tracking Market is predicted to be valued at US$ 230.95 million by 2033

The global WAN connected returnable transport assets tracking market is predicted to witness astonishing growth, exhibiting a CAGR of 12.0% from 2023 to 2033. As per the recent report by FMI, the number of global connections is expected to cross 74.36 million in 2023 and 230.95 million by 2033.

Returnable Transport Assets (RTAs) are specialized durable reusable packaging containers. They include shipping containers, dollies, pallets, and others. RTA tracking is critical for accountability. Solution providers track their RTA to better take care of their assets. They use RFID technology for faster auditing and reducing human error.

The swift digitalization experienced in recent years has augmented the shipments of Wide-Area Network (WAN) technologies. The incorporation of WAN in RTA tracking solutions has been rising due to the rising demand for closed-loop and open-loop supply chains. WAN connected returnable transport assets tracking leverages barcodes, RFID technology, and IoT technologies for precise tracking and accountability.

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WAN technologies incur flexible implementation and remain a long-term proposition for a few types of lower-cost RTAs. The expansion of supply chain networks of various enterprise departments is predicted to catapult the demand for WAN connected returnable transport assets tracking solutions. The innovations in software and IoT are projected to create lucrative growth prospects for the market.

The coronavirus pandemic has significantly boosted the expansion of eCommerce industry. The dynamic consumption patterns, coupled with the rising adoption of omnichannel distribution models are anticipated to uptick market expansion during the forecast period.

Key Takeaways from the WAN Connected Returnable Transport Assets Tracking Market:

The global WAN connected returnable transport assets tracking market is predicted to reach 117 million connections by 2027.

The North American region is predicted to attain substantial growth with the United States dominating the regional market.
The United States market is predicted to flourish due to the food and beverage industry’s consistently rising expansion. Additionally, companies aim for optimum quality and safety of their products during the transportation is anticipated to garner market growth.
The United Kingdom is anticipated to hold the largest market share in Europe. The growing emphasis on waste reduction and sustainability improvement is projected to bolster the region’s market development.
Asia Pacific’s market is likely to flourish owing to the high demand for transportation services. The large manufacturing bases in Indonesia, India, China, and other nations are anticipated to bolster market development.

Recent Developments Observed by FMI:

In February 2022, Link Labs partnered with Wirepas. Link Labs is the pioneer in end-to-end Internet of Things platforms for tracking, finding, and tagging equipment, supplies, and assets. With this partnership, Airfinder OnSite, Link Labs’ flagship product is to be used to assist enterprises in managing, monitoring, and locating packaging, tools, inventory, personnel, and others.
TrakAssure and Wyld partnered in February 2022 to provide worldwide Long Range Wide-Area Network, LoRaWAN satellite-based IoT connectivity, for asset tracking.
In June 2021, Safecube launched its new IoT-enabled asset-tracking solution. The new LocaTrack asset will monitor and track assets, offering a global view of the transportation fleet.

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Key Segments of WAN Connected Returnable Transport Asset Tracking Services Industry

WAN Connected Returnable Transport Asset Tracking Services Industry by Product Type

WAN Connected Returnable Transport Asset Tracking Services Hardware
WAN Connected Returnable Transport Asset Tracking Services Software

WAN Connected Returnable Transport Asset Tracking Services Industry by Deployment

On-cloud WAN Connected Returnable Transport Asset Tracking Services
On-premise WAN Connected Returnable Transport Asset Tracking Services

WAN Connected Returnable Transport Asset Tracking Services Industry by End User

WAN Connected Returnable Transport Asset Tracking Services for Transportation & Logistics
WAN Connected Returnable Transport Asset Tracking Services for Aviation
WAN Connected Returnable Transport Asset Tracking Services for Healthcare
WAN Connected Returnable Transport Asset Tracking Services for Manufacturing
WAN Connected Returnable Transport Asset Tracking Services for Food & Beverage
WAN Connected Returnable Transport Asset Tracking Services for Other End-use Industries

WAN Connected Returnable Transport Asset Tracking Services Industry by Region

North America WAN Connected RTA Tracking Market
Latin America WAN Connected RTA Tracking Market
Europe WAN Connected RTA Tracking Market
East Asia WAN Connected RTA Tracking Market
South Asia and Pacific WAN Connected RTA Tracking Market
Middle East and Africa (MEA) WAN Connected RTA Tracking Market

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Edge Server Market Valued at $3.39 Billion in 2023, Set to Achieve 53.8% CAGR by 2033

The edge server market is capturing a valuation of US$ 3.39 billion in 2023 and is expected to reach US$ 251.34 billion by 2033. The market is likely to register a CAGR of 53.8% during the forecast period.

How are Telecommunication and Healthcare Sectors driving Market Growth?

The telecommunications and healthcare sectors are the two leading industries driving the growth of the edge server market. The increasing adoption of 5G networks drives the demand for edge computing in the telecommunications industry to reduce latency and improve overall network performance.

It is particularly important for applications that require real-time data processing, such as video streaming, online gaming, and autonomous vehicles. Edge computing also helps to reduce the load on the centralized cloud infrastructure, improving its scalability and cost.

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In the healthcare sector, edge computing improves patient outcomes and reduces costs. Edge servers can collect and process data from various medical devices and sensors, including wearables, smart beds, and remote monitoring systems.

By processing this data at the network’s edge in real-time, healthcare providers can quickly identify and respond to critical situations, such as a sudden change in a patient’s vital signs. Edge computing also helps to protect patient privacy by keeping sensitive data on-site rather than transmitting it to a centralized cloud.

Overall, the adoption of edge computing is driven by the need for real-time data processing, reduced latency, and improved network performance. As more industries begin to recognize the benefits of edge computing, we can expect to see continued growth in the market.

Key Takeaways:

The United States is dominating the global market by securing a maximum share by 2033.
With a CAGR of 53.8%, the global edge server market is driving the market size during the forecast period.
The market is securing a valuation of US$ 3.39 billion in the current year.
In the historical period, the market secured a valuation of US$ 2.20 billion in 2022.

Other Prominent Players in the Market include:

Dell Technologies
Hewlett Packard Enterprise (HPE)
Cisco Systems
Huawei Technologies
Fujitsu Limited
NEC Corporation
Juniper Networks
International Business Machines Corporation
Schneider Electric
Vertiv Holdings

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Recent Developments in the Market are:

Dell Technologies: Dell Technologies is a multinational technology company that provides end-to-end computing solutions, including edge servers. In 2021, Dell Technologies launched its new edge computing portfolio, which includes the Dell EMC PowerEdge XE7100 server, designed for rugged environments and optimized for high-performance computing at the edge. Dell also announced its collaboration with International Business Machines to create an open-source platform for edge computing.

Hewlett Packard Enterprise (HPE): Hewlett Packard Enterprise is a multinational technology company that provides edge computing solutions, including servers, software, and networking solutions. In 2021, the company announced the launch of its new HPE Edgeline Converged Edge Systems, which combines edge computing, storage, and networking in a single ruggedized platform. Hewlett Packard Enterprise also acquired Silver Peak, a software-defined wide-area network (SD-WAN) provider, to enhance its edge-to-cloud networking capabilities.

Cisco Systems: Cisco is a multinational technology company that provides networking solutions, including edge servers. In 2021, Cisco announced the acquisition of Epsagon, a cloud-native application monitoring company, to expand its cloud and edge computing capabilities. Cisco also launched its new edge computing platform, the Cisco Catalyst Industrial Internet of Things 2.0, designed for industrial use cases such as manufacturing and oil and gas.

Lenovo: Lenovo is a multinational technology company that provides edge computing solutions, including servers and networking solutions. In 2021, Lenovo launched its new ThinkSystem SE350 edge server, designed for harsh environments and optimized for edge computing workloads. Lenovo also partnered with Microsoft to provide Azure Stack HCI solutions for edge computing.

Huawei: A multinational technology company that provides edge computing solutions, including servers, software, and networking solutions. In 2021, Huawei announced the launch of its new FusionServer Pro series servers, which are optimized for edge computing and Artificial Intelligence workloads. Huawei also launched its new OceanStor Pacific series storage system, designed for data-intensive workloads at the edge.

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Edge Server Market by Category

By Type:

Hardware
Services
Platform

By Application:

Internet of Things
Video Surveillance
Autonomous Vehicles
Gaming
Others

By Region:

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

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