Wealth Management Platforms Market Projected to reach US$ 8.56 billion by 2033, Exhibiting a CAGR of 10% | FMI

The wealth management platform market is expected to register a CAGR of 10.0% during the forecast period. The wealth management platform market size is anticipated to rise from US$ 3.3 billion in 2023 to US$ 8.56 billion by 2033.

Global digitalization is booming, which is improving the market outlook. The wealth management platform helps companies obtain knowledge and improve decision-making to increase productivity and profitability.

The market expansion is being supported by the extensive product use in trading and exchange organizations to handle numerous clients effectively, comprehend the process of the financial portfolio, and access trading accounts.

A boost to the market’s expansion is being given by several technical developments, such as the introduction of digital wealth management platforms that give financial firms access to new integrated tools and data-driven analytics.

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Artificial intelligence (AI) is being integrated to efficiently manage investment preferences, and offer individualized and carefully curated advice for clients, which is positively boosting the market growth.

The market for wealth management platforms is expected to expand as a result of increasing smartphone saturation, technological advancements, increased use of and interest in smart gadgets, and other factors.

Wealth management solutions may also help HNWIs better structure their wealth management objectives by using a variety of analytical methodologies. Modern advising technology adoption is gaining traction.

For instance, the HNI and UHNWI categories in India have increased dramatically in the preceding decade, fuelling demand for wealth management services, according to a September 2021 report from the India Brand Equity Foundation (IBEF).

Key Takeaways from Market Study

The big market share for wealth management platforms is held by North America and with a revenue share of US$ 1.0 billion in 2022. In North America, wealth management services are increasingly important for attracting and keeping successful retail customers.

During the prediction period, it is predicted that Asia Pacific is likely to expand significantly with a rate of 8.4% due to the region’s growing use of digital platforms, and economic consultants are expected to have strong job chances.

In 2032, the wealth management platform market in Europe is estimated to account for 20% of total revenue. This expansion needs to be aided by wealth managers’ adoption of Environmental, Social, and Governance (ESG) frameworks into their investment strategies. As the need for AI-enabled investment solutions increases, banks, wealth managers, and other financial institutions throughout the area are implementing wealth management platforms.

In 2022, the end-user segment for banks accounted for 30% of the market share for wealth management platforms. Due to high-net-worth professionals’ demand for a better customer experience and individualized care, wealth management platforms are growing in popularity.

The asset management sub-segment of the service type sector is predicted to earn the most income over the projection period, followed by financial planning, tax planning, estate planning, and others. By 2028, the asset management market is expected to generate revenues of US$ 224.92 billion, up from US$ 142.35 billion in 2020, with a 7.2% CAGR.

Competitive Landscape

The market participants plan to increase the size of their customer bases by acquiring new clients, growing their current clientele, releasing new products, expanding their technological leadership through ongoing R&D investments, and expanding internationally through partnerships and collaborations.

Latest Developments in the Wealth Management Platform Market

To transform its core banking systems and support the bank’s expansion plans in the United States, BMO Harris Bank expanded its partnership with FIS, a provider of financial service technology, in June 2021.

In January 2021, D-fine and Avaloq worked together to implement and upgrade projects in Switzerland and Germany by utilizing D-strong fine’s technical capabilities and in-depth knowledge of banking regulation.

Key Companies Profiled

SS & C Technologies, Inc.
Fiserv Inc.
FIS
Profile Software
Broadridge Financial Solutions, Inc.
InvestEdge, Inc.
Temenos Headquarters SA
InvestCloud
SEI Investments Company
Comarch SA
Dorsum Limited
Avaloq Group AG

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Key Segments Covered in the Market Report

By Advisory Mode:

Human Advisory
Robo Advisory
Hybrid
By Deployment Model
On-premise
Cloud

By Application:

Financial Advice & Management
Portfolio
Accounting & Trading Management
Performance Management
Risk & Compliance Management
Reporting

By End-use:

Banking Investment Management Firms
Trading & Exchange Firms
Brokerage Firms

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.

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.
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T: +1-845-579-5705
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Custom Packaging Boxes Market to Surge to US$ 9.0 Billion by 2032: Paper & Paperboard Segment Dominates with a Projected US$ 3.0 Billion Valuation

The future of the global custom packaging boxes market appears exceptionally promising, poised for significant growth as it anticipates reaching a valuation of US$ 9.0 billion by 2032, driven by a robust compound annual growth rate (CAGR) of 4.7%. In 2022, the market is already valued at US$ 5.7 billion, showcasing its escalating prominence. The paper & paperboard segment is forecasted to be a key player, reaching US$ 3.0 billion by 2032, owing to its environmentally friendly attributes.

Custom packaging boxes have evolved beyond traditional rigid formats, becoming a strategic tool for brand owners to differentiate their products and create a distinct brand image. As consumer consciousness regarding packaging grows, customized solutions are gaining traction for their ability to capture attention, enhance product presentation, and contribute to brand visibility. Offering versatility in materials such as paper & paperboard, plastic, metal, and wood, custom packaging boxes are set to redefine the retail sector, providing unique and sustainable packaging solutions for diverse industries.

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The items such as jewelry, mobile phones, perfumes, and others are displayed in custom packaging boxes with the lid open. The presentation helps in creating an emotional bond between the customer and the product, which drives the demand for custom packaging boxes. Also, printing is possible on these boxes which helps the brands to display their logo along with required product information.

Besides this, brands can design their packaging for the product as per product size and need which helps in offering attractive as well as protective packaging. Backed by the aforementioned factors, demand for custom packaging boxes is expected to increase over the forecast period.

“Increasing adoption of custom mailer boxes for shipping of luxury goods, along with growing focus on sustainable packaging solutions will augment the growth in the market over the assessment period,” says an FMI analyst.

Key Takeaways:

  • Based on materials, the paper & paperboard segment is estimated to hold around 51% of the total market share by 2032.
  • In terms of end use, demand in the consumer goods segment is anticipated to increase at a CAGR of 5.3% during 2022-32.
  • The inserts segment will account for approximately 2/3rd of the total market share in 2022.
  • Total sales in the Germany custom packaging boxes will reach a valuation of US$ 481.5 Mn by 2032.
  • The India custom packaging boxes market will create an incremental opportunity of US$ 219.1 Mn over the forecast period.

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Growth Drivers in the Custom Packaging Boxes Industry:

  1. E-commerce Boom: The rapid growth of e-commerce has significantly increased the demand for custom packaging boxes, as businesses seek unique and branded solutions to enhance the unboxing experience for online customers.
  2. Brand Differentiation: Companies are increasingly recognizing the importance of brand identity and customer experience. Custom packaging boxes offer a way for businesses to differentiate their products and create a lasting impression on consumers.
  3. Sustainability Focus: With a growing emphasis on environmental sustainability, there is a rising demand for eco-friendly custom packaging solutions. Businesses are opting for recyclable and biodegradable materials to align with consumer preferences for sustainable packaging.
  4. Personalization Trends: The desire for personalized products extends to packaging. Custom packaging boxes allow for tailored designs, colors, and messaging, reflecting a broader trend towards personalized and unique consumer experiences.
  5. Globalization and Cross-Border Trade: As businesses expand globally, the need for customized packaging that meets different market preferences and regulatory requirements becomes crucial. Custom packaging facilitates the adaptability required for successful cross-border trade.

Industry Trends in the Custom Packaging Boxes:

  1. Digital Printing Advancements: Innovations in digital printing technologies enable high-quality and cost-effective customization of packaging boxes. This trend allows for intricate designs, variable data printing, and shorter production cycles.
  2. Smart Packaging Integration: The integration of smart packaging technologies, such as QR codes and NFC tags, is on the rise. Custom packaging boxes are becoming a platform for interactive experiences, offering consumers additional information, promotions, or engagement opportunities.
  3. Minimalist Packaging: A counter-trend to elaborate designs, minimalist packaging is gaining popularity. Clean, simple, and sustainable packaging designs resonate with consumers seeking a more straightforward and eco-friendly aesthetic.
  4. E-commerce-Friendly Designs: Custom packaging is adapting to the specific requirements of e-commerce logistics, with features like easy assembly, tamper-evident seals, and space-efficient designs that minimize shipping costs.
  5. Subscription Box Surge: The rise of subscription box services has led to increased demand for uniquely designed custom packaging. These boxes are not only functional for shipping but also contribute to the overall branding and excitement associated with subscription-based products.

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Key Segmentation :

By Material:

  • Paper & Paperboard
  • Plastic
  • Metal
  • Glass

By Inserts:

  • With Inserts
  • Without Inserts

By End Use:

  • Consumer Goods
  • Electrical and Electronics
  • Cosmetic & Personal Care
  • Fashion Accessories & Apparels
  • Healthcare
  • Food and Beverage

By Region:      

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

Author

Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.

Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.

About Future Market Insights (FMI)

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

Contact Us:       

Nandini Singh Sawlani 

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Professional Services Automation Software Market on the Rise: Forecasting US$ 35,754.17 Million by 2033 at CAGR 11.5%

The global professional services automation software market size was valued at US$ 12,038.66 million in 2023, and is estimated to reach a revised size of US$ 35,754.17 million by 2033. This market is projected to record a CAGR of 11.5% during the analysis period.

With businesses increasingly digitizing and automating their processes, the demand for process automation is on the rise. Growing demand for automation services and a reduction in overall costs are expected to drive PSA software market growth during the forecast period. This is to increase operational productivity in terms of revenue among professional service organizations.

A growing need for scalable and flexible professional services, as well as consultants’ escalating demand for advanced mobility services, are expected to support market growth. Also, the increasing profit margins, automating a wide range of time-consuming tasks, and enabling robust communication between internal stakeholders, this software facilitates market growth.

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PSA solutions also provide teams with a unified platform for collaborating and completing tasks and projects more efficiently. Besides keeping stakeholders informed and making timely decisions, professional services automation solutions offer teams the ability to track resources, project progress, and costs in one place.

Key Takeaways from the Professional Services Automation Software Market Report:

The professional services automation software market is expected to record a CAGR of 11.5% over the forecast period.

It is estimated that the professional services automation software market in North America may remain strong during the forecast period.

The technology segment acquired a significant market share, valued at US$ 5,018.22 million during the forecast period.

On-premise PSA software deployments are expected to account for a significant share of the market in 2023, representing around 51%.

It is expected that the market in India may demonstrate a considerable level of growth by 2033.

“The Professional Services Automation Software Market, as highlighted in our recent market research study, is experiencing significant growth and transformation. With the increasing demand for streamlined project management, resource allocation, and financial tracking in professional service organizations, this market is witnessing a surge in adoption. The coming years will be marked by innovation and competition among software providers to meet the evolving needs of this dynamic industry.” – says Sudip Saha, Managing Director and Co-Founder at Future Market Insights.

Competitive Landscape:

The growth potential of the professional services automation software market is likely to be supported by irreplaceable value propositions in product offerings. A moderately fragmented market is served by several local companies. Companies use a variety of strategies to gain market share, including investments, partnerships, acquisitions, and mergers. Companies also strive to improve their products and keep them competitive.

Leading Key Players:

Autotask Corporation
BMC Software, Inc.
ConnectWise, Inc.
Deltek, Inc.
FinancialForce.com
Kimble Apps
Microsoft Corporation
NetSuite OpenAir, Inc.
Oracle Corporation
Planview

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Recent Developments:

Singapore-based FinTech Global Direct has launched a blockchain platform to address global B2B transaction challenges, which typically take six days to complete. Features include ticketing for tour operators, rewards management, and alternate currency payment gateways.

In March 2022, ProductDossier Solutions announced that several companies had implemented TouchBase, its software for professional services automation. The companies are Tiger Analytics, Aujas Cyber Security, Hical Technologies, and Tata Communications.

In February 2020, Clarizen, a software company focused on enterprise collaborative work management, became a McAfee CASB Connect Partner via self-service API connectors for McAfee® MVISION Cloud.

Professional Services Automation Software Market Segmentation:

By Application:

Consulting Firms
Marketing and Communication Firms
Technology Companies
Architecture, and Construction Firms
Research Firms
Accounting Firms
Others

By Deployment:

Cloud
On-premise

By Region:

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

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.

About Future Market Insights (FMI)

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

Contact Us:      

Nandini Singh Sawlani 

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Future of Packaging Unveiled: Stand-up Zipper Pouch Market to Thrive at US$ 3.0 Billion by 2033, Leveraging Smart Technologies and Edible Innovations

The future growth of the stand-up zipper pouch market is poised for substantial expansion, with a projected valuation exceeding US$ 3.0 billion by 2033 and an anticipated compound annual growth rate (CAGR) of 4.9% through 2033 from a baseline of US$ 1.9 billion in 2023. A pivotal driver of this growth is the industry’s embrace of interactive packaging trends, employing augmented reality (AR) and near-field communication (NFC) technologies. Manufacturers are transforming stand-up pouches into engaging platforms, allowing consumers to unlock digital content, product information, and interactive experiences via their smartphones.

Furthermore, the integration of smart packaging elements such as QR codes, NFC tags, and RFID sensors is enhancing supply chain visibility, reducing counterfeiting risks, and fostering consumer trust. The emergence of edible packaging, crafted from sustainable materials like seaweed or rice paper, adds an eco-friendly dimension, aligning with the escalating demand for sustainable solutions. As the market continues to innovate at the intersection of technology and sustainability, stand-up zipper pouches are poised to revolutionize packaging, offering memorable experiences and eco-conscious choices for consumers and businesses alike.

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Key points:

  1. Convenience and Portability: Stand-up zipper pouches provide consumers with ease of use and portability, allowing them to carry and store products conveniently.
  2. Extended Shelf Life: These pouches offer excellent barrier properties, protecting the contents from moisture, oxygen, and other external factors, thereby extending the shelf life of perishable products.
  3. Branding and Visibility: Stand-up pouches provide ample space for branding and product information, enhancing the visibility and attractiveness of the packaged products on retail shelves.
  4. Sustainability: Many stand-up zipper pouches are made from eco-friendly materials and are recyclable, catering to the growing demand for sustainable packaging options.
  5. Innovation and Customization: Manufacturers are continuously introducing innovative features like resealable zippers, spouts, and handles, and offering customization options to meet specific customer requirements.

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Growth Drivers in the Stand-up Zipper Pouches Industry:

  1. Convenience and Portability: The demand for stand-up zipper pouches is propelled by consumer preferences for convenient and portable packaging solutions, suitable for a wide range of products from snacks to personal care items.
  2. Rise in E-commerce: The booming e-commerce sector is driving the adoption of stand-up zipper pouches as they offer practical and efficient packaging for shipping, storage, and display, meeting the needs of online retail packaging.
  3. Innovative Packaging Designs: Continuous innovations in pouch design, including eye-catching graphics, clear windows, and user-friendly zipper closures, contribute to increased consumer appeal and adoption of stand-up pouches across various industries.
  4. Sustainability Focus: With a growing emphasis on eco-friendly packaging, stand-up zipper pouches are evolving to incorporate sustainable materials, providing a green alternative that aligns with consumer and industry demands for environmentally conscious choices.
  5. Food Industry Applications: The food and beverage industry’s preference for flexible and resealable packaging solutions is a significant driver for the stand-up zipper pouch market. The pouches help extend the shelf life of perishable goods and maintain product freshness.

Industry Trends in the Stand-up Zipper Pouches:

  1. Recyclable and Biodegradable Materials: Increasing awareness of environmental issues is driving the trend towards stand-up pouches made from recyclable and biodegradable materials, addressing concerns about plastic waste.
  2. Customization and Branding: Stand-up zipper pouches are witnessing a trend towards increased customization to enhance brand visibility. Companies are investing in unique designs, colors, and branding elements to stand out on retail shelves.
  3. Transparent and Clear Packaging: Consumers prefer transparency in packaging to assess product quality. The trend of incorporating clear windows or panels in stand-up pouch designs allows customers to see the product, fostering trust and influencing purchasing decisions.
  4. Technological Advancements: The integration of technology, such as resealable zipper closures with improved sealing mechanisms, contributes to the convenience and functionality of stand-up pouches, further boosting their popularity.
  5. Diversification into Non-Food Sectors: The stand-up zipper pouch market is expanding beyond food and beverages to include applications in personal care, pharmaceuticals, and other non-food sectors, broadening the market’s reach and potential growth opportunities.

Key players :

  1. Pouch Direct Pty. Ltd.
  2. Alpha Packaging
  3. Mondi Plc

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Market Segmentation: 

By Material Type:

  • Plastic
  • Paper
  • Aluminum

By Capacity:

  • Less than 1.5 Oz
  • 1.5 Oz to 3 Oz
  • 3 Oz to 7.5 Oz
  • 7.5 Oz to 15 Oz
  • 15 Oz to 30 Oz
  • Above 30 Oz

By End-use:

  • Food
  • Healthcare & Pharmaceuticals
  • Electrical & Electronics
  • Cosmetics & Personal Care
  • Automotive
  • Consumer Goods
  • Others

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific (APAC)
  • Middle East & Africa (MEA)
  • Japan

Author

Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.

Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.

About Future Market Insights (FMI)

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

Contact Us:       

Nandini Singh Sawlani 

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Hypodermic Syringes Market Soars with a Projected 3.2% CAGR, Expected to Reach US$ 4.66 Billion by 2032

The future growth trajectory of the hypodermic syringes market appears robust, propelled by a projected average CAGR of 3.2% from 2022 to 2032. Valued at US$ 3.51 billion in 2022, the market is anticipated to surge to US$ 4.66 billion by 2032. The term “hypodermic” denotes its application beneath the skin, reflecting its pivotal role in withdrawing or injecting fluids from or into the body. The escalating prevalence of chronic diseases contributes significantly to the market’s expansion, as hypodermic syringes become indispensable in medical interventions.

Government initiatives, coupled with the imperative to address dosing errors, have emerged as key drivers, fostering increased adoption in healthcare markets. The market’s traction is further accelerated by competitive pricing strategies and innovative schemes. As the healthcare sector evolves to meet the demands of a growing population grappling with chronic ailments, the hypodermic syringes market is poised for sustained growth, ensuring a vital role in the medical landscape of the future.

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The forecasted period holds promising growth prospects for the hypodermic syringes market. These syringes, used for withdrawing or injecting fluids beneath the skin, are witnessing increased demand due to the rising prevalence of chronic diseases. Their application is especially crucial in the medical sector, where ease of use is a key factor driving demand.

Government initiatives and a focus on reducing dosing errors have further propelled the sales of hypodermic syringes in healthcare markets. The market’s traction is also driven by competitive price ranges and innovative schemes. These factors combined contribute to the growth of the hypodermic syringes market, establishing its position as a vital component of the healthcare industry.

Drivers in the Hypodermic Syringes Industry:

  1. Increasing Vaccination Initiatives: The global emphasis on vaccination programs, especially during pandemics and for routine immunizations, is a significant driver for the growth of the hypodermic syringes market.
  2. Rising Prevalence of Chronic Diseases: The increasing prevalence of chronic diseases, such as diabetes, necessitates regular administration of medications, driving the demand for hypodermic syringes in both clinical and home settings.
  3. Technological Advancements in Syringe Design: Ongoing innovations in syringe design, including safety features, precision, and ease of use, contribute to increased adoption of hypodermic syringes in healthcare settings.
  4. Expanding Geriatric Population: With a growing elderly population globally, there is a heightened demand for healthcare services, leading to increased use of hypodermic syringes for various medical treatments and therapies.
  5. Government Initiatives for Safe Injection Practices: Regulatory measures and initiatives by governments to promote safe injection practices and prevent needlestick injuries are boosting the market for advanced and safety-engineered hypodermic syringes.

Industry Trends in the Hypodermic Syringes:

  1. Rise of Autoinjectors and Prefilled Syringes: The market is witnessing a trend towards the adoption of autoinjectors and prefilled syringes, providing convenient and ready-to-use options for patients and healthcare professionals.
  2. Growing Preference for Safety-Engineered Syringes: Healthcare facilities are increasingly adopting safety-engineered syringes to minimize the risk of needlestick injuries among healthcare workers, contributing to market growth.
  3. Focus on Environmentally Friendly Materials: There is a trend towards developing hypodermic syringes using environmentally friendly materials, aligning with the broader shift toward sustainability in healthcare product manufacturing.
  4. Telemedicine Impact on Homecare Usage: The rise of telemedicine and home healthcare services is influencing the demand for hypodermic syringes as patients increasingly self-administer medications at home under professional guidance.
  5. Customization and Personalization in Syringe Manufacturing: Companies are exploring customization options in syringe manufacturing, allowing for tailored solutions to meet specific therapeutic and patient needs in the dynamic healthcare landscape.

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Regional Outlook

Geographically, the global hypodermic syringes market has been divided into seven key regions which include North America, Latin America, East Asia, South Asia, Europe, Middle East & Africa (MEA) and Oceania. Europe is expected to hold maximum market share in the global hypodermic syringes market owing to the well-established healthcare industry in the region. The healthcare sector in India is diversified and offers enormous opportunities in every segment which includes payers, providers, and medical technology.

Increasing competition pushing businesses to explore and adapt according to the latest trends and dynamics is expected to impact the hypodermic syringes market in the country positively. There is a direct effect of many physician visits in the contribution of revenue generation in the industry. The demand for medical devices rises substantially with an increase in the number of physician visits. This is expected to further contribute to the global hypodermic syringes market during the forecast period.

Key Players

Following are some of the key players operating in the global hypodermic syringes market: Terumo Corporation, Albert David Ltd., Becton, Dickinson and Company, Nipro Corporation, Smiths Medical, Hindustan Syringes & Medical Devices Limited, etc. Many local and unorganized players are expected to contribute to the global hypodermic syringes market during the forecast period.

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Key Segmentation 

By Material Type:

  • Polymer Syringes
  • Cyclic Olefin Polymers (COP)
  • Cyclic Olefin Copolymers (COC)
  • Polypropylene and Other Polymers
  • Glass Syringes

By Sales Channel:

  • Manufacturers
  • Distributors
  • Retailers

By End User:

  • Hospital
  • Diabetic Care Centers
  • Blood Collection Centers
  • Veterinary Care Centers
  • Clinics

By Region:

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

Author

Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.

Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.

About Future Market Insights (FMI)

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

Contact Us:       

Nandini Singh Sawlani 

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
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Commercial Vehicle Automotive Thermal System Market Forecasted to Reach US$ 25.40 Billion by 2033

It is expected that the commercial vehicle automotive thermal system market may increase from US$ 16.62 billion in 2023 to around US$ 25.40 billion by 2033, at a CAGR of 4.33%.

In a commercial vehicle, the automotive temperature control system uses technology to maintain a temperature that is optimal for all components. This technology relies on thermodynamics and heat transfer principles.

Thermal management encompasses various forms of heat transfer, such as convection, conduction, and radiation, involving different processes. The modern thermal management system includes cooling and air-conditioning systems. Vehicle scrappage programs, aggressive infrastructure development, and rural development are all expected to fuel the industry’s growth.

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Regulatory standards may also be imposed on the industry to ensure that vehicles meet stringent weight and length requirements. Growth is also expected due to mining activities resuming in some parts of the world, which are driving demand for tippers.

“The market is likely to grow due to the increase in construction and e-commerce activities that have increased the demand for material transportation. Furthermore, the transition to electric vehicles is expected to provide opportunities for the market to grow.” says a lead analyst at Future Market Insights.

Key Takeaways from Market Study

  • The commercial vehicle automotive thermal system market is expected to record a CAGR of 4.33% over the forecast period.
  • According to estimates, the commercial vehicle automotive thermal system market in North America may remain strong.
  • The United States may have the leading share of the North American market with 58% of the market.
  • The battery segment is expected to register at a CAGR of 5.74%.

Competitive Landscape:

Several prominent companies dominate this market including BorgWarner (United States), Dana Incorporated (United States), Grayson Thermal Systems (United Kingdom), Hanon Systems (South Korea), Eberspacher (Germany), Valeo SA (France), Continental AG (Germany), Denso Corporation (Japan), Robert Bosch GmbH. (Germany), Mahle GmbH (Germany)

Companies in emerging and economically advantageous regions are collaborating with governments to gain bulk orders and boost sales. Key manufacturers are strengthening their presence in the market and staying ahead of the competition through facility expansion, new product launches, and approvals.

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Recent Developments:

  • New Jeeto Plus CNG, CharSau, introduced by Mahindra and Mahindra in August 2022, offers the maximum mileage, maneuverability, and payload in the segment, resulting in higher profit margins for both inter-city and intra-city applications. Due to its several standout features, small and medium-sized businesses and traders in India may benefit from this last-mile transportation solution.
  • Modine launched a comprehensive series of Thermal Management Systems for commercial EVs in May 2022. In commercial EVs, this series improves performance, range, battery life, and safety. It keeps the traction motors and power electronics cool at all times.
  • Eberspaecher launched the H2-ICE exhaust system for hydrogen engines in May 2022. This system demonstrates that the exhaust system of a hydrogen engine is functioning correctly, considering the requirements of the fuel. Nitrogen oxides, small particles, and unburned hydrocarbons can all be monitored by this exhaust system.
  • The Better Plants initiative has been launched by Denso, a leading Japan-based mobility supplier, in partnership with the Department of Energy (DOE). Denso plans to invest in fuel-efficient thermal systems as part of this initiative. Denso’s commitment to reduce energy consumption by 40% by 2035, aligns with the company’s energy reduction goal.

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Market Segmentation by Category

By Application:

  • Front & Rear AC
  • Engine & Transmission
  • Seat
  • Battery
  • Waste Heat Recovery
  • Power Electronics
  • Motor

By Vehicle Type:

  • Light Commercial Vehicles
  • Medium Commercial Vehicle
  • Heavy Commercial Vehicle

By Propulsion Type:

  • ICE
  • BEV
  • PHEV
  • FCEV

By Component:

  • HVAC
  • Powertrain Cooling
  • Fluid Transport
  • Others

By Region:

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

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.

Contact Us:        

Nandini Singh Sawlani   

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Electric Vehicle Battery Market Projected to Grow at 8.5% CAGR by year 2033

The electric vehicle battery market is forecast to experience a growth of 8.5% CAGR over the estimated time, as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 9,402.3 million in 2023.

The increasing transition toward electric vehicles (EVs) is expected to propel accelerated battery demand in leading automobile markets like the United States and Europe. Battery and automotive manufacturers are facing challenges owing to uncertainty related to the battery supply chain. Several players are considering constructing gigafactory or joining joint ventures to combat shrunken supply.

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The shift toward EVs can be attributed to adverse climactic change and increasing carbon emissions, especially in urban cities. The EV30-30 Scenario targets a surging value share of EVs to 30% by 2030 (excluding two/three-wheelers).

Favorable government policies to encourage EV sales are predicted to offer opportunities for battery makers of EVs. Additionally, technological advancements have spiked the energy density of lithium-ion batteries while reducing the overall price of lithium-ion batteries. As a result, propelling its uptake in li-ion powered EVs.

Surging investments for the upgradation of public charging infrastructure in conjunction with the rising efficiency of EVs are expected to create lucrative opportunities for manufacturers.

The high cost of EVs is expected to affect the uptake of batteries negatively. Gaps in demand and supply of essential raw materials like cobalt and a dearth of charging infrastructure are expected to limit the market growth.

Top Highlights from the FMI’s Analysis of the Electric Vehicle Battery Market: 

  • The United States electric vehicle battery industry is expected to attain a 28.7% market share in 2023. The dominant share of the country reflects the high establishment of the market and great prospects for future growth.
  • Germany is expected to hold a 15.1% market share in 2023. The country is expected to attract key players from across the globe to expand its sales and drive product innovation.
  • Japan contributes 5.3% to the global market. The regional market offers excellent potential for key participants’ growth.
  • Australia’s share in the market is as low as 1.4%. However, the country is expected to offer growth prospects to businesses that venture out.
  • China is expected to expand robustly over the forecast period at a 9.6% CAGR.
  • The Indian market is anticipated to expand at a CAGR of 9% in the forecast period.
  • Under the battery type category, lead acid is expected to record a market share of 45.7% in 2023.
  • Passenger cars are expected to hold a 22.2% market share in 2023.

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Key Developments in the Market

  • CATL collaborated with Ford in February 2023 to develop a battery plant for EVs in the United States Michigan city. As a part of the agreement, Ford is expected to own the new unit of CATL. CATL is also predicted to assist Ford in accelerating the development of batteries.
  • Clarios’ Optima introduced an all-new lithium-power sport battery line in November 2022. The line focuses on enhancing batteries for personal watercraft, motorcycles, utility task vehicles (UTV), snowmobiles, and all-terrain vehicles (ATVs).
  • Honda Motor Company declared the development of a lithium-ion battery plant for EVs in the United States with the LG Energy Solution Ltd. in August 2022. The total investment in the project has been US$ 4.4 billion. The companies aim to develop about 40 GWh of batteries yearly to be exclusively used in North America’s Honda and Acura electric vehicles.

Competitive Landscape 

LG Chem Ltd, BYD Company Limited, Panasonic Corporation, Tesla Motors, Inc., Samsung SDI Co, Ltd, and Narada Power Source Co., Ltd, among others, are some of the prominent players in the electric vehicle battery market profiled in the full version of the report.

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Key Segments

By Battery Capacity:

  • Less than 20 kWh
  • 21-40 kWh
  • More than 41 kWh

By Vehicle Technology:

  • HEV
  • PHEV
  • BEV

By Vehicle Type:

  • Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles
  • Others

By Battery Type:

  • Lithium Ion
  • Lead Acid
  • Nickel Hydride
  • Others

By Region:

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

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.

Contact Us:        

Nandini Singh Sawlani   

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Tower Crane Rental Market: Anticipated CAGR of 5.8% Envisages a Market Valuation of US$ 12.8 Billion by 2033

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

The Tower Crane Rental Market is currently undergoing significant expansion, driven by the widespread adoption of tower crane rentals across diverse industries. Notably, the construction and infrastructure sectors are experiencing a substantial upswing, marked by an increased number of projects aimed at fortifying and modernizing existing infrastructure. The growing demand for tower crane rentals can be attributed to their inherent advantages, including cost-effectiveness, adaptability, and efficiency in managing intricate lifting tasks. As construction projects continue to diversify and expand in both scale and complexity, the need for specialized equipment, such as tower cranes, becomes increasingly indispensable.

Projections indicate that the global tower crane rental market is set to achieve a substantial valuation of approximately US$ 7.3 billion by the year 2023. This upward trajectory is primarily fueled by the escalating demand for tower crane rentals across a broad spectrum of end-use industries. Looking ahead, it is anticipated that the market will maintain its upward trajectory over the next decade, reaching an estimated value of US$ 12.8 billion by 2033. This growth trend is expected to demonstrate a Compound Annual Growth Rate (CAGR) of 5.8% from 2023 to 2033.

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Anticipated in the near future is a substantial upswing in market growth driven by several key factors. Chief among these is the increasing adoption of tower crane rentals across a diverse array of end-user segments. This trend is further accentuated by a surge in infrastructure projects aimed at modernization and expansion, serving as a pivotal catalyst for the expansion of the market.

An noteworthy trend is the expanding utilization of tower crane rentals within the mining industry, showcasing their versatility in handling and unloading heavy materials. This diversification in usage within the mining sector is expected to play a crucial role in boosting overall sales and fostering market growth.

In recent years, the significant surge in urbanization and the rapid migration of populations from rural to urban areas have contributed substantially to the rise in construction activities. This upward trajectory in construction is further bolstered by an increasing demand for rental services in the realm of tower crane technology, driven by notable technological advancements.

Modern tower cranes now feature a range of advanced attributes, including enhanced lifting capacities, robust safety systems, precise control mechanisms, and energy-efficient operations. These cutting-edge features have collectively heightened the demand for tower crane rentals, with projections indicating a sustained upward trajectory during the forecast period.

The North American market emerges as a prominent player in the global tower crane rental industry, attributed to robust construction activities in the region. The proliferation of development projects in urban and metropolitan areas has generated a compelling demand for tower crane rentals, fostering market expansion.

Simultaneously, the Asia Pacific region is experiencing rapid growth in construction and infrastructure development, resulting in a strong demand for tower crane rentals. The substantial increase in construction activities observed in countries such as China, India, and Japan has significantly fueled the need for tower crane rental services, solidifying the Asia Pacific region’s pivotal role in this market.

Key Takeaways from the Market Study

  • From 2018 to 2022, the tower crane rental market demand expanded at a CAGR of 5.2%
  • Based on design type, the top-slewing segment accounts for a CAGR of 5.7%
  • By application, the construction segment is expected to expand at a CAGR of 5.6% during the forecast period
  • North America to emerge as a promising tower crane rental market, capturing a CAGR of 5.7%
  • The tower crane rental industry in the United Kingdom is predicted to reach US$ 8.7billion by 2033
  • Asia Pacific to be an opportunistic tower crane rental market, expected to capture a CAGR of 5.5% during the forecast period.
  • South Korea’s tower crane rental industry is predicted to achieve a market revenue of US$ 7.4billion by 2033

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Competitive Landscape

The global tower crane rental market is fragmented with the presence of several large and medium-scale players. The leading players in the market are investing in strategic agreements in order to capture market share.

Prominent players in the tower crane rental market are:

  • Konecranes
  • Liebherr
  • Mammoet
  • Maxim Crane Works, L.P.
  • Morrow Equipment Company
  • Morwest Crane & Services
  • Bigge Crane and Rigging Co
  • Stafford Crane Group
  • Leavitt Cranes
  • Value (US$ Million)ed Crane & Rigging
  • Locabens Equipamentos
  • Grumont Equipamentos Ltda
  • JASO Group
  • Arcomet
  • WOLFFKRAN International AG
  • Uperio Group
  • Al Faris
  • KAR Group
  • CC Crane Hire
  • Industrial Leasing Corporation
  • Mammoet’s tower crane rental division provides a wide range of tower crane models with varying lifting capacities and configurations to meet diverse project requirements. The company ensures that its rental fleet consists of modern and well-maintained tower cranes equipped with the latest safety features and technological advancements.
  • Wolffkran offers a comprehensive range of tower crane models, including luffing jib cranes, saddle jib cranes, and flat-top cranes. These cranes are known for their high-quality construction, advanced technologies, and efficient performance. Wolffkran’s tower cranes are designed to meet the demanding requirements of construction projects, ranging from small-scale developments to large and complex structures.

Know More about What the Tower Crane Rental Market Report Covers

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

To understand opportunities in the tower crane rental market, the market is segmented based on lifting capacity, design type, product type, vendor type, and application across five major regions.

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Global Tower Crane Rental Market by Category

By Lifting Capacity:

  • Up to 5 Tons
  • 5 – 10 Tons
  • 10 – 20 Tons
  • 20 – 50 Tons
  • Above 50 Tons

By Product Type:

  • Self-Erecting
  • Hammerhead Crane
  • Luffing Jib Tower Crane
  • Mobile Tower Crane

By Design Type:

  • Top Slewing Tower Crane

Bottom Slewing Tower Crane

By Vendor Type:

  • Original Equipment Manufacturer (OEM)
  • Independent Service Provider

By Applications:

  • Building and Construction
    • Residential and Commercial
    • Industrial
    • Civic Infrastructure
  • Marine and Sea Ports
  • Mining
  • Others

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • South Asia and Pacific
  • East Asia

Author By:

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 Us

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

Contact:

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

Automotive Airbag Market to Surge at 4.4% CAGR, Expected to Reach US$ 35 Billion by 2033

The global automotive airbag market is projected to have a high-paced CAGR of 4.4% during the forecast period. The current valuation of the automotive airbag market is US$ 12.2 Billion in 2023. The value of the automotive airbag market is anticipated to reach a high of US$ 35 Billion by the year 2033.

The key aspects pushing the adoption of the automotive airbag are new premium and mid-level passenger automobile models hitting the market that come standard with airbags. Furthermore, the need for safety systems in all types of cars is expected to skyrocket in the future years.

Furthermore, rising disposable incomes of the growing middle-class population, as well as increasing urbanization, is likely to drive the sales of all types of automobiles, boosting the global automotive airbag market growth throughout the forecast period.

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Curtain airbags are deployed to protect the passenger’s or driver’s head and neck, reducing the risk of harm in the event of a side impact. As a result, they are used in vans, SUVs, and other vehicle types to improve safety. Increasing safety regulations in all types of automobiles are driving market expansion. Due to the needed safety regulations in these vehicles, the demand for the automotive airbag is expected to witness increased usage in heavy-duty trucks and mini-cars.

The healthcare business also offers considerable prospects in the automotive airbags market since these devices protect patients’ necks and heads in the event of an unforeseen collision. As a result, ambulance manufacturers are incorporating sensors in their vehicles that deploy and give additional protection after an accident. These factors are anticipated to generate creative opportunities in the global automotive airbag market share.

The Intermodal Surface Transportation Efficiency Act of 1998 requires that all automobiles and light commercial vehicles sold in the United States have front rider and passenger airbags. As a result, demand for airbags in the United States has increased since then.

In addition, Road Transport and Highways Minister Nitin Gadkari announced the clearance of a draught GSR Notification to make a minimum of six airbags mandatory in motor vehicles carrying up to 8 occupants. All these factors collectively contribute to the product demand and expand the global automotive airbag market size.

However, airbag systems are not too important for automobile owners in developing countries. As a result, many automobile manufacturers supply low-cost airbags just to comply with safety rules. However, in order to save money, passenger safety is sacrificed, and the durability of that airbag system falls short of consumer expectations. This inhibits people from purchasing automobiles with airbag systems. As a result, this business has two major challenges: cutting out cheap airbag producers and working on the high cost of airbag systems for all types of automobiles, which may hamper the market growth.

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Key Takeaways:

  • During the forecast period, India is expected to account for the largest share of the global automotive airbag market. The market in this region is expected to rise since automobile and auto-component manufacturers believe India to be one of their favoured economies for setting up manufacturing plants. Moreover, various companies have collaborated with a local carmaker to export the cars in conformity with government regulations.
  • The hair dryer market in the North America is predicted to develop rapidly, particularly in the U.S., during the projected period. This is attributed to rising government rules for vehicle safety and standards, quick adoption of new technology, and major investment in product innovation. Furthermore, frontal airbags have been required standard equipment for all passenger automobiles and light commercial vehicles in North America since 1998 due to strict regulation implementation.
  • Owing to increasing driver safety issues and burgeoning passenger vehicle manufacturing, the “passenger” vehicle type is expected to hold the greatest revenue, through the forecast period.
  • As it provides superior physical features such as increased impact resistance, decreased density, and a high specific heat capacity, the “nylon” yarn type, accounts for a significant share and is the most preferred type.

Competitive Landscape:

The global automotive airbag market share is experiencing a transformational period as a result of technological breakthroughs and various innovations. The creativity that goes into the production of hair dryers is predicted to continue attracting clients, creating enormous chances for major suppliers to leverage on such expanding trends and launch fresh product lines.

KEY PLAYERS:

Autoliv Inc., Takata Corporation, Daicel Corporation, Denso Corporation, Hyundai Mobis Co. Ltd., Toyoda Gosei Co. Ltd., ZF Friedrichshafen AG, Kolon Industries, Toray Industries Inc., Porcher Industries SA, Nihon Plast Co. Ltd., Delphi, Wacker Chemie AG, Hyosung Co., Toyobo Co. Ltd.

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Recent Developments:

  • In November 2021, Autoliv, Inc., a supplier of automotive safety systems, and SSAB, a global steel manufacturer, have begun working together to research and create fossil-free steel components for car safety goods such as airbags and seatbelts.
  • In 2020, Hyundai Mobis Co. Ltd., acquired the semiconductor division of Hyundai Autron. This acquisition is expected to provide the capability to develop semiconductors for the automotive industry and supply them system controls on a systematic basis.

Automotive Airbag Market by Category

By Vehicle Type:

  • Passenger Car
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle

By Product Type:

  • Driver Airbag
  • Passenger Airbag
  • Side Airbag
  • Curtain Airbag
  • Knee Airbag
  • Other Airbags

By Coating Type:

  • Neoprene
  • Silicone
  • Non-Coated

By Yarn Type:

  • Nylon
  • Polyester

By Sales Channel:

  • Original Equipment Manufacturers (OEMs)
  • Aftermarkets

By Region:

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

About Future Market Insights (FMI) 

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

Contact:

Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
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China Industrial Hoses Market to Reach US$ 2.4 Billion by 2033 with a CAGR of 7.4%

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

Envisioned to approach a valuation of approximately US$ 1.09 billion in the year 2022, the China industrial hoses market is poised for significant expansion. This growth trajectory is anchored by a convergence of factors, including a pronounced upswing in infrastructure development, heightened PVC consumption, and an escalating demand for durable industrial hoses across a spectrum of sectors. Consequently, there exists a high likelihood that this market will attain a notable milestone, surging to a valuation of US$ 2.4 billion by the year 2023. This surge is anticipated to be driven by a robust Compound Annual Growth Rate (CAGR) of 7.4%, spanning from 2023 through to 2033.

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Driving Factors:

Building Infrastructure Renaissance: The resurgent global focus on infrastructure development stands as a cornerstone. Governments worldwide are channeling colossal investments into infrastructure projects, thereby fueling the demand for industrial hoses. These versatile conduits are indispensable in construction, irrigation, and transport of fluids in various infrastructure applications.

Soaring PVC Consumption: Polyvinyl chloride (PVC) has emerged as a pivotal player, with its burgeoning consumption catalyzing the industrial hoses market. PVC, a preferred material for hose production, not only offers durability but also resists abrasion, making it the prime choice across industries. This surge in PVC utilization is a pivotal driving force behind the market’s upward trajectory.

Expansive Demand Across Diverse Sectors: Industrial hoses find indispensable roles in diverse sectors, from agriculture to manufacturing and healthcare. The demand for durable hoses in key applications across these sectors is on a steady ascent. Notably, these hoses are pivotal in ensuring the seamless flow of liquids and gases in critical processes, driving their growing adoption.

Market Restraint:

While the industrial hoses market soars to new heights, a significant restraint looms on the horizon.

Environmental Regulations: Stringent environmental regulations, particularly pertaining to materials used in hose manufacturing, pose a notable challenge. The push for eco-friendly materials and sustainable practices has the potential to impact production costs and product availability.

Despite this restraint, the industrial hoses market remains robust, projected to reach an astounding US$ 2.4 billion by 2023. This trajectory is further underscored by a projected Compound Annual Growth Rate (CAGR) of 7.4% from 2023 to 2033.

Intense Market Competition

In the dynamic landscape of the China industrial hoses market, companies are diligently pursuing various strategies to maintain a competitive edge. Their endeavors encompass the introduction of innovative product offerings, securing fresh supply agreements, and forging strategic alliances to augment their production capabilities. These concerted efforts are aimed at effectively catering to the needs of a burgeoning customer base.

In this tightly-knit and consolidated market, market participants are directing their attention towards the conception and creation of robust, environmentally friendly industrial hose systems with enhanced power capabilities. This strategic approach is geared towards securing a substantial competitive advantage in the fiercely competitive arena of industrial hoses in China.

The key players in this market include:

 

  • Parker Hannifin Corporation
  • Eaton Corporation
  • Balflex LLC
  • Tubes International Sp Z.O.O
  • Spirax – Sarco Engineering Plc
  • Comflex Industries Co., Ltd.
  • Cjan Fluid Technology Co., Ltd.
  • Taizhou Changli Resin Tube Co., Ltd.
  • Zhuai Patel Technology Co., Ltd.
  • Qingdao Everflex Rubber & Plastic Co., Ltd

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Key Segments Profiled in the China Industrial Hoses Market

By Material:

  • Plastics & Polymers
  • PTFE
  • PUR
  • PVC
  • Nylon
  • Silicone
  • Hybrid
  • Steel
  • Braiding Yarn
  • Composites

By Product Type:

  • Tank Water Hoses
  • Gardening Hoses
  • Fuel Hoses
  • Diving Hoses
  • Brake Hoses
  • Bicycle Hydraulic Brake Hoses
  • Lubricant Hoses
  • Hydraulic Hoses
  • Mini Hydraulic Hoses
  • Pneumatic Hoses
  • Cryogenic Transfer Hoses
  • Gas Connection Hoses

By Pressure Intake:

  • Low Pressure
  • Medium Pressure
  • High Pressure
  • Ultra High Pressure

Maximizing Potential: Custom Insights to Drive Growth in the China Industrial Hoses Market
https://www.futuremarketinsights.com/customization-available/rep-gb-13777

About Future Market Insights (FMI)

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

Contact Us:

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