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Aircraft Tire Market Expected to Reach US$ 3.3 Billion by 2033 | Future Market Insights, Inc.

The global aircraft tire market is projected to attain a valuation of US$ 1.8 billion in 2023 and is anticipated to reach US$ 3.3 billion by 2033, and is expected to increase at a CAGR of 6.2% during the forecast period.

The aircraft tire market is a critical sector within the aviation industry, providing essential components for the safe operation of aircraft. Here’s an overview of key aspects of this market:

Market Segmentation: The aircraft tire market can be segmented based on aircraft type (commercial, military, general aviation), tire type (bias ply, radial), tire size, and geography (regions or countries with varying levels of aviation activity).
Market Size and Growth: The market size for aircraft tires is influenced by factors such as global air traffic growth, fleet expansion, aircraft retirements, and technological advancements in tire design and materials.
Key Players: Major players in the aircraft tire market include companies like Michelin, Bridgestone Corporation, Goodyear Tire & Rubber Company, Dunlop Aircraft Tyres, and Avon Rubber plc. These companies specialize in the design, manufacturing, and distribution of aircraft tires for various applications and aircraft types.
Technological Trends: Technological advancements in aircraft tires focus on improving durability, reliability, performance, and fuel efficiency. Key trends include the development of radial tire technology for enhanced stability and load-carrying capacity, innovations in tread designs for better traction and braking performance, and the use of advanced materials like carbon fiber and silica compounds for weight reduction and extended service life.
Market Drivers: Factors driving the aircraft tire market include increasing air travel demand, fleet modernization efforts by airlines, expansion of low-cost carriers and regional aviation markets, regulatory requirements for tire performance and safety standards, and the growing trend towards long-haul flights and larger aircraft models.

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Key Takeaways

United States aircraft tire market is expected to grow with a CAGR of 6.1% during the forecast period.
The market in Germany is expected to grow with a CAGR of 6% during the forecast period.
By sales channel, the aftermarket sales segment is projected to grow with an impressive CAGR of 7.5% during the forecast period.
The market in China is expected to grow with a significant CAGR of 6.3% throughout the forecast period.

“Advancements in tire manufacturing technologies and use of NextGen materials such as synthetic elastomer rubber are expected to drive market growth during the forecast period,” comments an FMI analyst

Competitive Landscape

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

The key industry players are Bridgestone Corporation, Goodyear Tire & Rubber Company, Compagnie Générale des Établissements Michelin, Dunlop Aircraft Tyres Limited, Petlas Tire Corporation, Aviation Tires & Treads, Polymer Enterprises Inc., Michelin, Maxam Tire International, Specialty Tires of America.

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Some recent developments in the market are:

Bridgestone announced its plans to streamline the manufacturing of aircraft tire retreading in the Asia-Pacific region in July 2022. To enhance efficiency, they consolidated production at their Chonburi, Thailand facility (BAMT), which already produces retreaded aircraft tires, incorporating operations from Bridgestone Aircraft Tire Company Asia (BAA).
In May 2022, Shuguang Rubber Industry Research & Design Institute, a subsidiary of ChemChina specializing in aircraft tires, was meant to join forces with engineering company Haohua Chemical Science & Technology to establish a state-of-the-art production facility for civil aviation tires.
In June 2020, a collaboration between Japan Airlines and Bridgestone Corporation was announced, focusing on the implementation of tire wear prediction technologies.
In April 2022, Goodyear Tires made an exciting announcement to produce military aircraft tires using a unique and sustainable source of rubber derived from dandelions. As part of their commitment to using eco-friendly materials, Goodyear will harness natural rubber derived from the Taraxacum kok-saghyz species of dandelions for the manufacturing of these tires.

More Valuable Insights Available

Future Market Insights offers an unbiased analysis of the global aircraft tire market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the aircraft tire market, the market is segmented on the basis of aircraft type, ply type, sales channel and region.

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Key Segments Profiled in the Aircraft Tire Industry Survey

Aircraft Type:

Small Widebody Aircraft
Medium/ Large Widebody Aircraft
Narrowbody Aircraft
Propeller Aircraft
Helicopter
Defense and Homeland Security Aircraft
Freighters

Ply Type:

Bias Ply
Radial Ply

Sales Channel:

OEM
Aftermarket

Region:

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

About Future Market Insights (FMI)

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

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Aerospace Fasteners Market to Reach US$ 14,568.9 Million by 2032 with Steady 6.4% CAGR Growth

The global aerospace fasteners market is projected to reach US$ 7,834.5 million in 2022, expanding at a steady CAGR of 6.4% from 2017 to 2022. By 2032, the aerospace fasteners market is projected to be worth US$ 14,568.9 million. According to research conducted by Future Market Insights, the aerospace fasteners market has historically grown at a CAGR of 4.8%.

The aerospace fasteners market is experiencing significant growth driven by factors such as increasing aircraft production, technological advancements, and growing demand for lightweight materials in aerospace manufacturing. Aerospace fasteners are critical components used to join structural elements, components, and systems in aircraft, spacecraft, and aerospace equipment, ensuring structural integrity, reliability, and safety. As aerospace manufacturers strive to meet stringent performance standards, improve fuel efficiency, and reduce assembly costs, the aerospace fasteners market continues to expand, fueled by several key factors.

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Key Drivers Fueling Growth in the Aerospace Fasteners Market:

Rising Aircraft Production and Demand: The growth of global air travel, increasing passenger traffic, and fleet expansion programs drive demand for aerospace fasteners used in commercial aircraft, business jets, and regional aircraft. Aircraft manufacturers such as Boeing, Airbus, and Embraer ramp up production rates to meet order backlogs and fulfill demand for new aircraft deliveries. Emerging markets in Asia-Pacific, Middle East, and Latin America witness strong demand for commercial aviation, stimulating market growth for aerospace fasteners in aircraft assembly, retrofitting, and aftermarket services.
Technological Advancements in Aerospace Materials: Continuous advancements in aerospace materials, such as titanium alloys, high-strength steels, and advanced composites, influence the design and performance requirements of aerospace fasteners. Lightweight materials offer superior strength-to-weight ratios, corrosion resistance, and fatigue properties, enabling aerospace manufacturers to reduce aircraft weight, improve fuel efficiency, and enhance structural integrity. Aerospace fasteners made from advanced materials undergo rigorous testing and certification to meet aerospace industry standards and performance specifications for critical applications in airframe structures, engine components, and interior fittings.
Demand for Lightweight and High-Strength Fasteners: Aerospace manufacturers prioritize the use of lightweight fasteners with high tensile strength and fatigue resistance properties to reduce aircraft weight and improve fuel efficiency. Lightweight fasteners made from materials such as titanium, aluminum, and composite materials offer weight savings compared to conventional steel fasteners, contributing to overall aircraft performance and operating costs. Engine manufacturers, airframe builders, and tier-one suppliers invest in lightweight fastening solutions, including blind rivets, threaded inserts, and composite fasteners, to optimize aircraft design and meet fuel consumption targets.
Emphasis on Safety, Reliability, and Compliance: Safety regulations, airworthiness standards, and certification requirements mandate the use of aerospace fasteners that meet stringent quality, performance, and reliability criteria for aerospace applications. Regulatory bodies such as FAA, EASA, and CAAC establish airworthiness directives, service bulletins, and certification guidelines for aerospace fasteners used in aircraft design, manufacturing, and maintenance. Aerospace fasteners undergo extensive testing, inspection, and qualification processes to ensure compliance with industry standards, material specifications, and aerospace OEM requirements for critical safety-critical applications.
Growing Demand for Aircraft Maintenance and Retrofitting: The increasing global aircraft fleet size, aging aircraft population, and aftermarket demand drive growth in aircraft maintenance, repair, and overhaul (MRO) activities, leading to demand for aerospace fasteners used in maintenance, retrofitting, and component replacement. Airlines, MRO providers, and OEMs invest in fasteners, bolts, screws, and rivets for structural repairs, cabin refurbishments, and avionics upgrades to extend aircraft service life, enhance passenger comfort, and comply with regulatory mandates. Specialized fastening solutions such as quick-release fasteners, self-locking nuts, and hi-lok fasteners facilitate efficient MRO operations and minimize aircraft downtime.

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Key Takeaways

As the concentration of major aircraft manufacturers like Textron, Boeing, and Bombardier, among others, in the North American aerospace fasteners market, which reached $1.86 billion in 2021, this area is anticipated to continue to dominate the industry.
According to FMI’s research report, Europe is expected to follow North America as the region with the second-highest share of the worldwide aerospace fasteners market over the forecast period.
In 2020, the aerospace fasteners market was led by the alloy steel category in terms of revenue, but the titanium segment is projected to expand at the fastest rate of growth (CAGR) throughout the forecast period.
In terms of product, the aerospace fasteners market was dominated by nuts and bolts in 2020, but the others sector is projected to grow at a faster rate in the coming years.
Although the civil aviation application generated the most revenue in 2020, the military aviation application is expected to grow at the fastest rate over the forecast period.
In 2020, Asia and the Pacific had the highest earnings of any region.
Some of the most important aerospace companies in the aerospace fasteners market are B&B Specialities Inc., Bufab Group, Howmet Aerospace, LISI Aerospace, Precision Castparts Corp., Stanley Black & Decker Inc., TFI Aerospace, The Boeing Company, TriMas Corporation, and Wurth Group.

Competitive Landscape

Market participants in the aerospace fasteners industry are making plans and extending their operations through the adoption of strategies, the signing of long-term contracts, the formation of joint ventures and mergers and acquisitions, and increased investment in R&D. Abilities enhancement is also being incorporated into the production of high-utility aerospace hardware, which is expected to increase the product’s popularity in the aerospace fasteners market.

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Key companies proliferating in the aerospace fasteners market are

3V Fasteners Company Inc.
Accumen Global Technologies
Advanced Logistics for Aerospace
Alcoa Fastening Systems & Rings
Allfast Fastening Systems
Avdel private limited
B&B Specialties, Inc.
Bufab Group
EADS
Arconic
Ho-Ho-Kus Inc.

Key Segments in the Aerospace Fasteners Market

By Product Type:

Pins
Bolts
Studs
Screw
Rivets

By Application:

Commercial aerospace
Military aerospace

By Material:

Aluminum
Steel
Super alloys
Titanium

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.
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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Shaving Care Market Set to Hit US$ 34.1 Billion Size Milestone by 2032 | FMI

The shaving care market is expected to reach US$ 16.6 billion by 2022. The total shaving care market will be worth US$ 34.1 billion by 2032, growing at a 7.5% CAGR. Total shaving care market sales are estimated to account for 10-20% of the worldwide personal care market.

In the market for shaving products, gender-neutral products are becoming more popular. Vendors are increasingly marketing goods with basic, understated styles. By eliminating clichés and using hues like mint, taro, and pomelo for a largely gender-neutral view, vendors have desexualized the gender narrative.

Women’s razor portability is also a recent development. There is a growing need for portable, simple-to-use versions as women spend more time away from home—whether for work, travel, or just daily driving.

Moreover, the evolution of hair removal from an “optional beauty” activity to a “necessary hygiene” exercise has significantly aided sales of razors. As a result, manufacturers are introducing women-centric models that offer moisturization, are suitable for sensitive sking and offer a burn free shaving experience.

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“The men’s shaving sector is predicted to benefit from the growing e-commerce industry as well as razor design innovation. However, the growing popularity of trimmers and the expanding trend of growing beards are likely to act as a driver for the market’s expansion “says an FMI Analyst.

Key Trends in the Shaving Care Market

In the dynamic realm of personal grooming, the Shaving Care Market is experiencing a significant transformation marked by evolving consumer preferences and innovative product offerings. As we delve into the key trends shaping this industry, a nuanced understanding of market dynamics emerges, reflecting the intersection of technology, sustainability, and consumer wellness.

Rise of Sustainable Practices: Consumers are increasingly gravitating towards eco-friendly and sustainable shaving solutions. Brands are responding by adopting eco-conscious packaging, reducing single-use plastics, and embracing cruelty-free formulations. This shift aligns with the growing awareness of environmental concerns, prompting the industry to prioritize sustainability throughout the product lifecycle.
Technological Advancements: The integration of technology into shaving products is reshaping the market. Smart razors, equipped with sensors and connectivity features, provide personalized shaving experiences. Additionally, the incorporation of advanced materials and blade technologies is enhancing the efficiency and comfort of shaving, catering to the demands of tech-savvy consumers.
Rise in Male Grooming: The male grooming segment is expanding rapidly, with men paying more attention to their grooming routines. This shift has led to the development of specialized products targeting male consumers. Brands are introducing innovative formulations, ergonomic designs, and personalized grooming kits to meet the unique needs of the male demographic.
Personalized and Inclusive Offerings: Customization is gaining traction in the shaving care market, with brands recognizing the diversity of consumer needs. Personalized subscription services, tailored product formulations, and inclusive marketing campaigns are becoming prominent strategies to connect with a broader audience. This trend aligns with the rising demand for products that cater to individual preferences and skin types.

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Competition Landscape

Leading manufacturers of shaving care products are focusing on aggressive promotional strategies, advertisements, and new product launches to improve sales in the market.

Key players operating in the global shaving care market include Conair Corporation Havells India Limited, Koninklijke Philips N.V., Panasonic Holdings Corporation, Johnson and Johnson Private Limited, ITC Limited, Procter & Gamble, WAHL, Xiaomi and Zhejiang among others.

Market by Category

By Product Type:

Shaving Cream
Shaving Gel
Razors & Blades
After Shave Care
Lotion/Balm
Splash/Gel
Trimmers

By Consumer Orientation:

Men
Women

By Price Range:

Low
Medium
Premium

By Sales Channel:

Supermarkets/Hypermarkets
Specialty Stores
Multi-Brand Stores
Discount Stores
Salon/Grooming Clubs
Drug Stores & Pharmacies
Online Retailers
Other Sales Channel

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
MEA

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 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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U.S. and Canada Hot Food Vending Machine Market Expected to Exceed US$ 7.8 Billion by 2031 | FMI

The U.S. and Canada hot food vending machine market is anticipated to achieve US$ 7,832.6 million by 2031 and is predicted to reach US$ 4,179.5 million in 2022. From 2022 to 2031, the U.S. and Canada saw a 7.2% compound annual growth rate (CAGR) in the sales of hot food vending machines.

Increasing number of self-checkout kiosk coupled with convenient payment options is boosting the demand for hot food vending machine in the U.S. and Canada. Need for fresh and hot food due to improved and hectic lifestyle will drive the demand in the market.

Furthermore, strong U.S. economy and adoption of smart hot food vending machines in the corporate sector across the U.S. and Canada will propel the sales in the market. By creating inviting spaces for their employees to enjoy their snacks or meals, employers can increase the amount of time their workforce spends in the office. Such factors are contributing towards the growth of the hot food vending machines in the U.S. and Canada.

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Key Trends in the U.S. and Canada Hot Food Vending Machine Market

The U.S. and Canada hot food vending machine market is experiencing transformative trends driven by evolving consumer preferences and technological advancements. As convenience becomes paramount, the market is witnessing key shifts that are shaping the future of automated food services.

Diverse Culinary Offerings: Hot food vending machines are no longer limited to traditional snacks. The market is embracing diverse culinary options, including hot meals, gourmet snacks, and ethnic cuisines. Consumers now demand a broader selection, pushing vending machine operators to collaborate with local chefs and food brands to cater to diverse tastes.
Health-Conscious Choices: The growing emphasis on health and wellness has influenced the offerings in hot food vending machines. Consumers seek nutritious options, prompting vendors to incorporate healthier ingredients, organic choices, and transparent nutritional information. This trend aligns with the increasing awareness of the impact of diet on overall well-being.
Contactless Technology: The COVID-19 pandemic has accelerated the adoption of contactless technologies. Hot food vending machines are integrating touchless payment systems, mobile apps, and QR codes for a seamless and secure transaction experience. This not only addresses hygiene concerns but also enhances the overall convenience for users.
Smart Vending Machines: Advancements in IoT and artificial intelligence have given rise to smart vending machines. These machines can analyze customer preferences, track inventory in real-time, and adjust pricing dynamically. The integration of machine learning algorithms enables personalized recommendations, enhancing the customer experience and optimizing operations for vendors.

Who is winning?

Leading manufacturers of U.S. and Canada hot food vending machine are focused on aggressive promotional strategies and advertisements that have driven sales growth in U.S. and Canada hot food vending machine market.

Major players present in the U.S. and Canada hot food vending machine market are Ausbox Group,ALe Bread Xpress INC, Basil Street Café, FastCorp Vending LLC, INTEGRA D.O.O., Let’s Pizza, QMBOX, Digital Media Vending International, LLC, Kratom Crazy Sprinkles, Burrito Box, Farmer’s Fridge, and Berdoll Pecan among others.

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Market by Category

By Food Type, U.S. and Canada Hot Food Vending Machine Market is segmented as:

Sandwiches
Pizza
Burgers
Hot Dogs
Pack Soup
Ready Meat
Steam Products
French Fries
Others

By Capacity, U.S. and Canada Hot Food Vending Machine Market is segmented as:

Below 100 Units
100-150 Units
150 and Above Units

By Material Type, U.S. and Canada Hot Food Vending Machine Market is segmented as:

Steel
Aluminum
Others

By Application, U.S. and Canada Hot Food Vending Machine Market is segmented as:

Hospitals & Clinics
Hotels & Restaurants
Malls & Retail Stores
Airports & Railways Stations
Corporates & Offices
Academic Institutions
Hypermarkets/Supermarkets
Food Service Companies/Operators
Others

By Country, U.S. and Canada Hot Food Vending Machine Market is segmented as:

U.S.
Canada

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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Nandini Singh Sawlani

Europe Built-in Coffee Machine Market Poised for a Remarkable US$3.5 Billion Expansion by 2033 | FMI

The European built-in coffee machine market will grow at a compound annual growth rate (CAGR) of 4.9% from 2023 to 2033. The market is expected to reach US$ 3,534.7 million by 2033 from US$ 2,175.2 million in 2023. The growth of the market is attributed to the surging technological improvements in kitchen appliances.

Such technological advances are evolving the way of cooking, food storage, and home interaction. The advent of smart appliances such as automatic coffee machines in the past decade has made the task of coffee making easier and has improved lifestyle, thereby, also saving time and energy.

In order to gain a new consumer base and efficiently promote the novelties offered in built-in coffee machines, the key manufacturers in the industry are promising the claims of barista-quality coffee blends at home which will be similar to the coffee offered at commercial places.

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In addition to that, facilities featuring dose control grinding, hands-free operation, and a massive steamer for micro-foam milk texturing, have successfully attracted a high number of customers towards such offerings and, in turn, boosted the market in the Europe region.

The demand for built-in coffee machines has witnessed a significant increase due to surging consumer needs for a high-quality coffee machine that is simple to use and exceptionally reliable for long-term use. The persistent nature of the European population for barista-quality coffee at home and their fulfillment through the high-end built-in coffee machines has boosted the volume of sales of built-in coffee machines in the region and is forecast to increase at a substantial growth rate over the forecast period.

Key Trends in the Europe Built-in Coffee Machine Market

Introduction: The Europe Built-in Coffee Machine market is experiencing a surge in demand, driven by evolving consumer preferences, technological advancements, and a growing coffee culture. This article delves into key trends shaping the landscape of built-in coffee machines across Europe.

Integration of Smart Technology: Built-in coffee machines are increasingly incorporating smart technology, allowing users to control and customize their coffee-making experience through mobile apps. Wi-Fi connectivity, touch screens, and compatibility with virtual assistants are becoming standard features, catering to the tech-savvy consumer base.
Sustainability and Eco-Friendly Designs: In line with the global sustainability movement, consumers in Europe are seeking eco-friendly options. Manufacturers are responding by developing built-in coffee machines with energy-efficient features, recyclable materials, and reduced water consumption, aligning with the growing consciousness towards environmental responsibility.
Premiumization of Coffee Experience: The demand for high-quality coffee experiences at home is driving the premiumization of built-in coffee machines. Manufacturers are focusing on incorporating advanced brewing technologies, such as precision temperature control, pressure profiling, and multiple brewing options, ensuring users can replicate the quality of artisanal coffee shops.
Customization and Personalization: Consumers are increasingly looking for personalized coffee experiences, leading to the development of built-in machines that allow users to customize coffee strength, grind size, and beverage size. This trend reflects a shift towards individualized preferences and an appreciation for tailored coffee experiences.

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Over recent years, the consumption of coffee at home witnessed exponential growth which increased the sales of all coffee equipment. In the hindsight, innovative coffee attributes related to the health properties of coffee are further augmenting coffee consumption, subsequently escalating the sales of built-in coffee machines.

Consumers anticipate more and more functions in the smaller sizes containers that they have grown to expect with each new generation of gadgets. Furthermore, no one wants to spend more or get those extra features at the expense of quality or safety. Manufacturers faced numerous hurdles in the past as a result of this.

Growth Drivers

A substantial increase is witnessed in the number of coffee lovers in the European region which has boosted the market growth phenomenally. Moreover, the customizations offered in such appliances according to consumer preference have boosted the volume of sales of coffee machines alternatively resulting in market expansion.

A significant increase in the concept of a smart home is gaining traction on the back of technological advancements and ease-of-usability and convenience with just the touch of a button is shifting the consumer preference from conventional coffee-making methods to newly introduced automatic built-in coffee machines. The integration of the latest upgraded software in addition to its connectivity to applications in smart mobile phones for easy access has gained the consumer’s attention to such appliances.

Restraints

Manufacturers have significantly pushed the boundaries of technology, downsizing the next-generation electronic components and systems in order to deliver attractive, feature-rich goods that consumers are willing to buy. Component miniaturization of kitchen appliances is on the surge as consumers are demanding highly efficient products with top-end features in inclusion to the premium quality build that can be aesthetically suitable for smaller rooms or kitchens.

Competitive Landscape

Key players operating in the market are focusing on product availability, product differentiation, promotional activities, and other strategies in order to expand their business through broader landscapes. Moreover, players are implementing the usage of high-tech materials and technology that is likely to expand the custmer base even further.

Key Players

Bosch (BSH Home Appliances Ltd)
Jenn Air (Whirlpool Corporation)
Wolf (Sub Zero Group, Inc.)
Ariston (Ariston Group)
Fisher & Paykel (Fisher & Paykel Appliances Ltd.)
Thermador (BSH Home Appliances Ltd)
Kupperbusch
Gaggenau (BSH Hausgeräte GmbH)
Meneghetti S.p.A Fulgor Milano
Neff (BSH Home Appliances Ltd.)
AEG (AB Electrolux)
Whirlpool Corporation
Miele
Smeg
Indesit Company
Electrolux

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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Nandini Singh Sawlani

Electronics Equipment Repair Services Industry, Estimated to Hit US$ 238,452.7 Million by 2033

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

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

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

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

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

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

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

Key Trends in the Electronic Equipment Repair Service Market

In a rapidly evolving technological landscape, the Electronic Equipment Repair Service Market stands at the forefront, witnessing significant shifts and innovations. As the demand for electronic devices continues to surge, the repair service industry is undergoing transformative changes. Here are the key trends shaping the Electronic Equipment Repair Service Market:

Rising Demand for Smartphones and Wearables Repair: The proliferation of smartphones and wearable devices has led to an increased demand for repair services. As these gadgets become integral to daily life, consumers are seeking prompt and reliable repair solutions, driving growth in the electronic repair market.
Specialized Repair Services for High-End Electronics: The emergence of high-end electronic devices, such as premium laptops, gaming consoles, and advanced cameras, has given rise to specialized repair services. Consumers are willing to invest in expert technicians who possess the skills and knowledge to handle intricate repairs for sophisticated electronics.
Focus on Sustainable Repair Practices: With a growing awareness of environmental sustainability, there is a shift towards eco-friendly repair practices. Repair service providers are adopting sustainable measures, including recycling, refurbishing, and utilizing environmentally friendly components, to align with the global push towards a circular economy.
Integration of Advanced Technologies: Artificial intelligence (AI) and machine learning (ML) are being integrated into electronic repair services. Predictive maintenance models and diagnostic tools powered by AI help technicians identify potential issues before they escalate, enhancing the efficiency and effectiveness of repair processes.

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

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

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

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

Key Segments

By Product Type:

Consumer Electronics
Computer Related Products
Others

By End Use:

Residential
Industrial or Commercial

By Region:

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 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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Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Website: https://www.futuremarketinsights.com
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Clean Label Ingredients Market Poised for Remarkable Growth at Nearly US$ 38 billion by 2032 | FMI Study

According to a recent report by Future Market Insights, a market research and competitive intelligence provider, sales of Clean Label Ingredients are estimated to reach a value of USD 38 billion by 2032, surging at 16% CAGR through the decade.

Clean Label Ingredients has grown in popularity as a result of increased customer interest in identifying the ingredients in food and beverage products all around the globe, particularly among health-conscious customers.

Clean label products are also known as natural components. Among them are colours, flavours, fruits and vegetables, starch and sweeteners, flour, food additives, salt, and other substances. Clean label content must meet any or all of the core requirements, along with at least another of the supplemental factors. Primary variables include fewer ingredients and the absence of artificial chemicals or additions; secondary variables include organic, natural, and non-GMO.

Observing the various uses of ingredients, major and small firms aspire to benefit consumers and eating trends even more in order to stay ahead of their competitors.

However, consumers throughout the world are becoming more conscious of the ingredients in their food and are scrutinising product labels more attentively. As a result, clean label food ingredient companies, notably those functioning in multiple countries, confront substantial challenges.

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Key Takeaways from Market Study

The market for Clean Label Ingredients in the United States expanded by x.x % year over year, defying early concerns about how the business might fare in the event of a global pandemic.
As workforce and raw materials are more affordable in Asia Pacific, many of the major market share players are expected to spend heavily in the coming years..
With a market share of x.x%, Germany is one of the most important countries in the European Clean Label Ingredients market.
Colors and Flavors reflect approximately x.x% market share, and are estimated to witness a high growth rate of y.y% over the forecast period.
In emerging countries, the expansion of the bread industry would set the way for the rise of the Clean Label Ingredients market.
Large market segments’ development tactics include material development, appealing integration programmes, advertising and development interests, collaborative efforts with product developers , and restricted expansion into new company sectors.

“ Rising Awareness among Consumers is driving the Clean Label Ingredients industry. Consumers are looking for simpler, more genuine ingredients, as well as shorter, clearer labelling, but they are not willing to compromise on quality or flavour. Food manufacturers who will focus on correctly understanding customer behaviour and designing strategies based on it will have a significant success component “, –says a lead analyst at Future Market Insights.

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Competitive Landscape

Clean Label Ingredients have a strongly competitive global market. The largest corporations are increasing their R&D investment and expanding their operations in order to maintain their market positions.

Some of the leading companies offering Clean Label Ingredients are Cargill Inc., Kerry Group plc, Ingredion, and Tate & Lyle.

Segmentation Analysis of the Clean Label Ingredients Market

Type:

Natural Colors
Natural Flavors
Fruit & Vegetable Ingredients
Starch & Sweeteners
Flours
Malt
Natural Preservatives
Fermentation Ingredients
Oils & Shortenings
Emulsifiers

Application:

Dry Form Products
Cereals & Snacks
Bakery Products
Beverages
Prepared Food/Ready Meals & Processed Foods
Dairy & Frozen Desserts
Others

Form:

Dry
Liquid

Region:

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

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About Future Market Insights (FMI)

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

Contact Us:

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

Revolutionizing Nutrition: Potato Protein Market Set to Attain US$ 300 Million by 2033 | FMI Study

The global potato protein market is predicted to register a CAGR of 7.6% over the forecast period, according to FMI’s analysis. The industry’s value is anticipated to increase from US$ 144 million in 2023 to US$ 300 million by 2033 end.

The surging demand for clean label products as a result of increasing concerns around the robust climate change is propelling the demand for vegetable-based proteins. Due to this, the incorporation of potato protein into several vegetarian products is rising. Moreover, the expanding vegan population, particularly in countries like Canada and the United Kingdom, among others, is fueling the demand for food products consisting of plant-based protein. This new trend is projected to witness overwhelming response due to the rising demand for potato protein in the thriving vegan industry.

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The market is projected to augment owing to the initiation of several research activities. These activities are aimed at promoting the operational efficiency and cost-effectiveness of the potato protein extraction process. The potential utilization of potato protein to safeguard against cancerous cells is predicted to enhance the demand for potato protein. The deployment of novel technologies to curtail potato waste while producing potato protein is anticipated to provide impetus to the market over the upcoming years.

Key Takeaways:

U.S. Market Dominance: The United States is projected to lead the potato protein market, reaching a valuation of US$ 106.3 million by 2033. The U.S. market anticipates a robust growth rate, recording a 7.4% CAGR over the forecast period.
China’s Significant Position: China emerges as a key player in the Asia Pacific potato protein market, estimated to achieve US$ 21.5 million by 2033. The regional market is poised for a steady CAGR of 7% from 2023 to 2033.
Japanese Market Growth: Japan, a vital market in the region, is expected to reach a market valuation of US$ 17.6 million by 2033. The Japanese potato protein industry is projected to expand at a CAGR of 6.1% over the forecast period.

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News Featuring Market Developments by Key Players of Potato Protein Solutions:

In April 2022, Branston Ltd. unveiled that it is partnering with Root Extracts to create a potato protein product to be used in vegan and vegetarian foods. The development of the product is likely to take place in Branston’s extraction unit in Lincolnshire, which was under construction at the time of announcement.
In February 2022, KMC declared that they have created a texturized potato protein to be utilized as an ingredient in meat alternatives. According to the company, the product is a first of its kind across the globe. The product is also a part of innovation program, which was initiated with the aim to create plant-based ingredient alternatives. The company is planning to manufacture the product on a large scale, with production run for the capacity of 300 tons for the year 2022.
In April 2021, Branston Ltd. began the construction of new potato protein extraction plant at Branston’s site in Lincolnshire, the United Kingdom. The complete set up of the new plant is projected to amount US$ 7.94 million. The facility would help convert low-quality potatoes into clean-label functional protein and develop starch-based products. For this set up, the company has partnered with B-Hive Innovations, which has developed the process.

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Market Segments Covered in Potato Protein Market Analysis

By Product Type:

10-40% Protein
40-50% Protein
60-65% Protein
70-80% Protein

By Nature:

Organic
Conventional

By Form:

Isolates
Concentrate
Textured Protein
Hydrolyzed Protein

By End-use Application:

Bakery & Confectionery
- Breads
- Cookies & Crackers
- Pastries
- Other Bakery & Confectionery
Protein and Nutritional Bars
Breakfast Cereals
Functional Beverages
Dairy Alternatives
Dietary Supplements
Sports Nutrition
Infant Nutrition
Meat Additives

By Region:

North America
Latin America
Europe
Asia Pacific excluding Japan
Japan
Oceania
The Middle East & Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 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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Online Food Delivery Services Market Hits US$ 101.32 billion by 2033 | FMI Study

The online food delivery services market size is likely to expand at a valuation of US$ 41.94 billion in 2023. Based on the online on-demand food delivery services market report, the adoption traces a CAGR of 10% through 2033. At this rate, demand for online food delivery services is expected to register a valuation of US$ 101.32 billion by 2033.

Significant funding in the food transportation sector creates market growth potential. Aside from these expenditures, other changes in client tastes are also influencing market development. For example, the demand for fresh food, quick home delivery, and convenience is driving up the adoption of online meal delivery services. Millennials are also growing interested in online meal delivery services.

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The global online food delivery services market is stirring up a culinary revolution with an estimated market size of US$ 38,200 million in 2022. This burgeoning industry is experiencing a transformative phase driven by changing pricing strategies and the proliferation of multiple meal delivery service platforms, intensifying market competition.

However, challenges loom on the horizon, including the strain on food quality during high-volume orders and the logistical hurdles faced by restaurants in managing multiple deliveries. Yet, the emergence of virtual restaurants and delivery-only kitchens promises to be a game-changer, unlocking substantial growth potential throughout the forecast period.

Key Takeaways:

Market Size Milestone: In 2022, the global online food delivery services market achieves a remarkable size of US$ 38,200 million.
Dominance of Platform to Consumer: The platform to consumer category seizes a substantial 55% market share in delivery types in 2022.
Mobile Applications Lead Channels: By channel type, mobile applications take the lead with a projected 35% global market share in 2022.
Online Transactions Prevail: Online transactions are anticipated to command 82% of the worldwide market in 2022 by payment type.
U.S. Market Hegemony: The U.S. online food delivery services market asserts dominance with an expected 90% global market share in 2022, poised for an 8% CAGR during the forecast period.
Rapid Growth in India: The Indian market anticipates rapid growth, eyeing a global market share of US$ 17,050 million by 2022.
German Market Surge: The German online food delivery services market exhibits robust growth with an estimated 9.8% CAGR during the forecast period.

“The growing use of smartphones and internet penetration are driving market expansion, which allows customers to order food from a variety of restaurants. This helps to drive market growth,” comments a Future Market Insights analyst.

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Competitive Landscape

Market participants are focusing their efforts on strategic alliances, mergers and acquisitions, and corporate expansions to increase their market position.

Uber Systems Inc. finalized its acquisition of Drizly in 2021, with the two businesses beginning to integrate their complementing delivery technologies and services the following year.
Grab Holdings, Southeast Asia’s leading ride-hailing and food delivery company, announced a USD 40 billion merger with Altimeter Growth Corp. in 2021. Investors including BlackRock (BLK.N), Temasek Holdings, Fidelity International, Mubadala Abu Dhabi, and Malaysia’s Permodalan Nasional Bhd will participate in a $4 billion private investment in public equity offering as part of Singapore-based Grab’s agreement with the Altimeter Capital-backed SPAC.
In 2021, Delivery Hero increased its footprint in Central America and the Caribbean by acquiring Hugo’s food and grocery delivery verticals.
Uber has agreed to pay $2.65 billion for Postmates, a meal delivery startup, in 2020, as it attempts to expand its foothold in on-demand food delivery while its primary ride-hailing business declines.

Key Segments

By Delivery Type:

Restaurant-to-Consumer
Platform-to-Consumer

By Channel Type:

Website/Desktop
Mobile Application

By Payment Method:

Cash On Delivery
Online

By Region:

North America
Latin America
Europe
Asia Pacific Excluding Japan
Japan
The Middle East & Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 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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PVC Tapes Market Analysis by Size, Share, Growth Factors and Opportunities by 2031

PVC tapes, or Polyvinyl Chloride tapes, are adhesive tapes made from a type of plastic known as PVC. These tapes are versatile and find applications in various industries and household uses.

As per recent market research, the PVC (Polyvinyl Chloride) tapes market is anticipated to experience a Compound Annual Growth Rate (CAGR) ranging between 4-6% throughout the forecast period. The ongoing modernization initiatives in the electrical grid and the rising adoption of consumer electronics on a global scale are poised to drive significant growth in the PVC tape market in the foreseeable assessment period. Additionally,

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Growth Factors

Internationally recognized as electrical tape, PVC tape plays a crucial role in the electrical sector, providing insulation and safeguarding against outdoor hazards. Its notable features, including high dielectric strength and resistance to heat, position it as a preferred choice in comparison to alternative tapes.

The escalating development of global electrical infrastructure and the ongoing modernization of electrical components have amplified the significance of PVC tapes in recent years. This trend is anticipated to persist in the foreseeable future, emphasizing the continued prominence of PVC tapes in the market.

Furthermore, there is a growing demand for environmentally friendly, sustainable, and pressure-sensitive PVC tapes. This shift in consumer preferences aligns with the increasing focus on eco-conscious products, reflecting a positive trajectory for the PVC tape market.

Top of Form

key aspects of PVC tapes:

Material Composition: PVC tapes are made from Polyvinyl Chloride, a synthetic plastic polymer. This material is known for its durability, flexibility, and resistance to moisture and many chemicals.
Adhesive Properties: PVC tapes typically have a pressure-sensitive adhesive coating on one side, allowing them to adhere to a variety of surfaces when pressure is applied. The adhesive provides a strong and long-lasting bond.
Electrical Insulation: PVC tapes are commonly used for electrical insulation purposes. They provide an effective barrier against electrical currents and are used for insulating and bundling wires in electrical applications.
Color Variety: PVC tapes come in a variety of colors, allowing for color-coding in electrical wiring applications. This facilitates easy identification of different circuits or components.
Weather Resistance: PVC tapes are known for their resistance to various weather conditions, making them suitable for outdoor applications. They can withstand exposure to sunlight, rain, and temperature fluctuations.

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Key Players

3M Company
BASF SE
Nitto Denko Corporation.
Berry Global Inc
Shurtape Technologies LLC
Rogers Corporation and CCT Tapes.
Ajit Industries
PPI Adhesive Products (C.E) S.R.O
Avery Dennison Corporation
ProTapes & Specialties, Inc.
Godson Tapes Private Limited and among others

Key Segments

By Technology:

Solvent
Hot Melt
Water Based

By Application:

Healthcare
Electrical & Electronics
Packaging
Automotive
Others

By Region:

North America
- U.S.
- Canada
Latin America
- Brazil
- Mexico
- Others
Europe
- Germany
- Italy
- France
- UK
- Spain
- Benelux
- Russia
- Rest of Europe
East Asia
- China
- Japan
- South Korea
South Asia Pacific
- India
- ASEAN
- ANZ
- Rest of South Asia Pacific
Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Rest of MEA