Market Research Blog – Page 3961 – New Product Development

Global Industrial Robot Controller Market Set to Surpass US$ 1,657.1 Million by 2029 with an Impressive 8.9% CAGR

In the dynamic realm of industrial automation, the global industrial robot controller market is poised for a transformative journey, projecting a robust Compound Annual Growth Rate (CAGR) of 8.9% from 2022 to 2029.

According to Future Market Insights (FMI), this trajectory is anticipated to lead to significant expansion, culminating in a noteworthy valuation of US$ 1,657.1 Million. FMI remains committed to providing a comprehensive review and comparative analysis of the market’s ever-evolving dynamics, offering valuable insights into recent trends and the persistent factors shaping the landscape of growth. The projected growth of the industrial robot controller market signifies its pivotal role in the advancing field of industrial automation, reflecting the industry’s commitment to innovation and efficiency.

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Industrial Robot Controller Market Poised for Strong Growth Fueled by HMI Adoption and Industry Demand:

The global industrial robot controller market is poised for substantial growth during the forecast period, driven by the increasing adoption of Human Machine Interaction (HMI), the integration of data and cloud capabilities enhancing hardware control, and the optimization of industrial robot costs. This growth has been reinforced by significant expansions in the automotive and electronic & semiconductor sectors, both of which are key demand generators in the industrial robotics landscape.

The findings of the report also suggest that the global commercial robot controller market is on track for significant expansion during the forecast period, propelled by the rising adoption of HMI, data and cloud capabilities boosting hardware control, and the drive to optimize industrial robot costs. Once again, the robust growth in the automotive and electronic & semiconductor industries serves as pivotal contributors to the demand within the industrial robotics landscape.

East Asia’s Industrial Robot Controller Market Poised for Substantial Growth:

Recent studies indicate that South Korea remains a leading nation in terms of the robot-to-employee ratio, while China is anticipated to experience remarkable growth. India, with its rapidly growing economy, is also expected to contribute significantly to the industrial robot controller market, as the country’s industrial ecosystems undergo significant transformations.

Japan holds a significant share in the industrial robot controller market due to its high level of automation adoption. The swift shift towards robotic automation in these countries is creating fresh opportunities for the adoption of robotic controllers, thus establishing East Asia as a highly attractive region for industrial robot controller market participants.

Convergence of Software-Based Technological Advancements and Cost Optimization:

Key players within the industrial robot controller market are well-positioned to capitalize on the increasing readiness of industrial ecosystems for the upcoming “fourth industrial revolution” and its consequent impacts. Smart components and software solutions, including sensors and controllers, are anticipated to define the future of automation, with industrial robot controllers serving as a pivotal component for robot manufacturers, as they are essential in governing all electromechanical systems.

In the forthcoming years, a growing trend in human-machine interaction is expected to bring robots and human operators closer together, simultaneously bridging the gap between robots and their control systems.

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Key Players:

Stäubli International AG
Mitsubishi Electric Corporation
OMRON Corporation
DENSO Wave Incorporated
SEPRO Group
WAGO
Pilz GmbH & Co. KG
Motion Controls Robotics Inc.
NexCOM Inc.
Wynright Corporation
KUKA AG
Yaskawa Electric Corporation,
ABB
YAMAHA Robots
FANUC CORPORATION
Toshiba Machine Co. Ltd.

Market Segmentation:

By Axis Type:

Single Axis
Four Axis
Six Axis
Other Axis

By Robot Type:

SCARA Robot
Delta Robot
Cartesian/Gantry Robot
Articulated Robot
Collaborative Robot
Dual Arm Robot

By Region:

Americas
EMEA
South Asia & Pacific
East Asia

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Author:

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

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

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

About Future Market Insights (FMI)

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

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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Loader Bucket Market Poised for Exponential Growth (2022-2029) as Waste Management Takes Center Stage

In the forecast period spanning from 2022 to 2029, the loader bucket market is set for substantial growth, propelled by an increasing emphasis on recycling and waste management initiatives. Within this dynamic market, loader buckets emerge as pivotal tools, playing a crucial role in enhancing the efficiency of waste handling operations. The industry is committed to optimizing waste management processes, with loader buckets proving indispensable due to their versatile design and robust capabilities.

In the contemporary business landscape, heightened environmental concerns have led to a significant shift in consumer behavior towards waste recycling and management practices. This transformative trend underscores the paramount importance of recycling initiatives and waste management strategies in addressing urgent environmental challenges. In this context, the role of material handling equipment, particularly loader buckets, cannot be overstated. They play a pivotal role in a diverse array of activities, including landfill operations and other critical processes integral to effective waste management. The anticipated growth of the loader bucket market reflects its crucial role in supporting the evolving landscape of sustainable waste management practices.

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Undoubtedly, the construction industry stands as a cornerstone in propelling the momentum of the loader bucket market, poised to secure substantial orders on a global scale. While the mining sector within Europe is undergoing a phase of resurgence, it is anticipated that the region will exhibit measured growth within the loader bucket market. This growth is underpinned by the advantageous dynamics of end-use industries and an escalating emphasis on effective waste management strategies.

With a keen eye on optimizing operational costs and ensuring longevity, loader bucket manufacturers are resolutely focused on presenting solutions that offer both low lifecycle expenditures and unwavering durability.

In the current landscape, it’s noteworthy that the construction and mining domains stand as the principal catalysts driving the utilization of bucket loaders. Nonetheless, a forthcoming surge is on the horizon, stemming from the waste management sector. This anticipated boost underscores the evolving significance of loader buckets in addressing the intricate challenges posed by waste management.

Key Highlights from the Loader Bucket Market:

Robust investments in construction ventures, both public and private, are poised to drive global material handling equipment sales, encompassing bucket loaders and related components.
The United Nations identifies an imperative for Asia Pacific, necessitating a remarkable $1.5 trillion infrastructural investment to ensure sustainable development, aligning with 5% of the region’s 2018 GDP.
Notable trends in mining spotlight surface mining for ferrous minerals and coal as the primary demand generator for loader buckets. Key hubs include the Americas and Asia Pacific.
Versatile general-purpose buckets take the lead, showcasing adaptability across tasks such as excavation, mining, grading, and more, capturing a substantial one-third of the loader bucket market globally.
Waste management’s global significance fuels the proliferation of recycling facilities. Countries like the U.S., Germany, South Korea, and China offer a burgeoning market for loader buckets alongside expanding waste recycling initiatives.

Key Players Operating in the Industry:

Major players in the loader bucket market are Komatsu Ltd., Liebherr, Volvo AB, Caterpillar Inc., Doosan Corporation, Deere & Company, J C Bamford Excavators Ltd., Wacker Neuson Group, and Takeuchi Mfg. Co, Ltd., ESCO Group LLC, Kenco Corporation, and VTN Europe S.p.A, among others.

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Market Analysis by Category:

By Capacity:

Below 1 yd3
Between 1 yd3 to 5 yd3
Above 5 yd3

By Bucket:

General Purpose Buckets
Light Material Buckets
Heavy Duty Buckets
Multi-purpose Buckets

By Loader:

Excavators
Wheeled Backhoes
Wheeled Loaders
Skid Steer Loaders
Others

By Application:

Rock
Woodchip
Coal
Sand & Gravel
Waste Handling
High Dump

By Fit Type:

First Fit
Re-Fit

By End Use:

Construction
Mining
Waste Management & Recycling

By Region:

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

Author:

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

About Future Market Insights (FMI)

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Nandini Singh Sawlani

Global Woodworking Router Bits Market Set for Remarkable Growth, Envisioning a Valuation of US$ 288.2 Million by 2033 with a Strong 5.7% CAGR

Experiencing a notable upswing, the global woodworking router bits market is on a remarkable growth trajectory, aiming for a projected valuation of US$ 166.0 million in 2023. Looking ahead to 2033, the market anticipates a substantial surge, driven by an impressive Compound Annual Growth Rate (CAGR) of 5.7%. By 2033, this thriving industry envisions significant expansion, targeting an approximate market size of US$ 288.2 million.

A pivotal driver fueling this growth is the sustained and escalating demand for carbide-based woodworking router bits. Insights from Future Market Insights (FMI) indicate that the carbide segment is poised to make a substantial contribution, accounting for over 42.6% of the market’s value share in 2023.

Woodworking router bits, serving as specialized cutting tools in woodworking routers, play a crucial role in shaping and crafting wood with precision. These tools, available in diverse sizes and forms such as straight, curved, and spiral flutes, are designed to facilitate precise and intricate cuts in woodworking projects, emphasizing their essential role in achieving excellence in craftsmanship. The market’s projected growth underscores the increasing significance of these tools in the woodworking industry, aligning with the evolving demands for precision and quality in craftsmanship.

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Crafting Success: The Precision and Profitability of Carbide-Tipped Router Bits in the Woodworking Market

In the multifaceted world of woodworking, router bits have emerged as indispensable tools, offering versatility across a spectrum of applications. From precision milling to meticulous engraving, from intricate profiling to artistic carving, router bits are the driving force behind the craft’s evolution.

What sets the carbide-tipped router bits apart in this competitive arena is their unparalleled accuracy and precision. They’ve become the darlings of woodworking professionals, carving a niche with their ability to deliver impeccable results, time and time again. In the ever-evolving global market, this precision factor has become a compelling competitive edge.

Another intriguing facet contributing to this growth story is the high resale value of carbide-tipped router bits when compared to their high-speed steel (HSS) counterparts. This makes them not just tools of the trade but also valuable assets in the hands of craftsmen. As we venture into the next decade, this economic incentive is poised to drive the global market to even greater heights.

In essence, the woodworking router bits market is an intricate tapestry of precision, creativity, and economic value. It’s a world where every cut matters, every design is unique, and every investment holds its worth. As businesses navigate this dynamic landscape, they find themselves at the intersection of craftsmanship and commerce, shaping the future of woodworking, one precise cut at a time.

“In the woodworking router bits market, products with high-end precision and durability are necessary for complex woodworking operations. Manufacturers are capitalizing on this trend by actively providing customized products for application-specific woodworking operations.”

Woodworking Router Bits Market: Competitive Landscape

The woodworking router bits market has become increasingly competitive as manufacturers are launching advanced products that offer various operational benefits and are compatible to the woodworking industry. There are a significant number of organized and unorganized players actively operating in the global market. Key players involved in the woodworking router bits market are:

Freud
Yash Tools
Whiteside Machine Company
Amana Tool
CMT Orange Tools
MLCS Woodworking
Bosch
Infinity Cutting Tools
Rockler
Porter-Cable
DeWalt
Festool
Diablo Tools
Eagle America, among others.

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Market Segments Analysis:

By Material:

High-Speed Steel
Carbide
Others

By Shank Diameter:

6mm
8mm
10mm
12mm
16mm
19mm

By Cutting Edge:

Single
Multiple
Two Flute
Three Flute

By Application:

Edge Forming
Joinery
Grooving and Slotting
Panel Raising
Lettering and Engraving
Flutting and Beading
Template Routing
Others

By Region:

North America
Latin America
East Asia
South Asia Pacific
Western Europe
Eastern Europe
Central Asia
Russia & Belarus
Balkan & Baltic Countries
Middle East & Africa

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Author:

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

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Nandini Singh Sawlani

Expansive Growth Projected for Global Ride-On Mower Market, Surpassing US$ 4,530.0 Million by 2032 with a Robust 4.1% CAGR

Experiencing a notable surge, the global ride-on mower market is poised for significant success, with a projected valuation exceeding US$ 4,530.0 million by 2032. This remarkable trajectory represents a substantial increase from its 2022 value of US$ 3,040.0 million, driven by a commendable Compound Annual Growth Rate (CAGR) of 4.1% over the forecast period.

At the heart of this exceptional growth narrative is the escalating demand for ride-on mowers, distinguished by their significant advantages over traditional counterparts. Departing from manual pushing or towing requirements, ride-on mowers empower users to effortlessly maintain their lawns and gardens while comfortably seated, redefining the landscape of convenience in lawn care.

In an era where consumers prioritize efficiency and ease in lawn maintenance, the global ride-on mower market emerges as a pivotal player, offering transformative solutions that redefine the standards of convenience in outdoor landscaping. The projected growth signifies the industry’s commitment to delivering innovative solutions aligned with evolving consumer preferences, underscoring the market’s pivotal role in shaping the future of modern lawn care.

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Global Ride-on mower Market: Dynamics

The key driving factor for the growth of the ride-on mower market is the ease of work for a rider to mow large areas at high speed in the shortest time possible and receive optimum results. The sustainable and efficient environmental practice raises demand for an electric riding mower that is energy efficient and saves the fuel cost which is a potential factor in the growth of the ride-on mower market.

Another potential factor to the ride-on mower market growth is its appeal to ride to anyone who owns a big property and is interested in mowing lawns by themselves and enjoys zooming around the yard. Ride-on mower is a safe choice when it comes to using its alternative which can lead to safety issues while handing a typical towing mower or a walk-behind mower.

The cost associated with a ride-on mower is relatively higher than the towed mower which restraints the demand for a ride-on mower. Moreover, technological advancement in biotechnology has given rise to artificial grass which is gaining consumer popularity in recent years. Thus the use of artificial grass eliminates the requirement of any mower as they don’t recurring watering, fertilizing, and mowing as required by natural grass and adds a major challenging factor to the ride-on mower market.

Global Ride-on mower Market: Region Wise Outlook

The global ride-on mower market is divided into seven regions, namely North America, Latin America, and the Asia Pacific excluding Japan (APEJ), Western Europe, Eastern Europe, Japan, and the Middle East and Africa (MEA). North America holds a major share in the global ride-on mower market.

Countries in North America such as the U.S. consists of people who prefer large outdoor spaces and have landscaping yards which gains significant momentum in the region. Followed by North America is Europe which also has to landscape of yards gains the momentum in the region. Moreover, in Europe, the demand for the electric ride-on mower is high owing to the factor of energy efficiency which boosts the overall ride-on mower market.

Thus the developed regions of North America and Europe are estimated to witness a high CAGR regarding value in the forecast period of the ride-on mower market. APEJ is estimated to hold a significantly lower major share in the global ride-on mower market and will also witness a lower CAGR owing to the behavior of the consumer that is not similar to that of the Western consumer of ride-on mower market that prefers to mow large area on their own.

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Global Ride-on Mower Market: Prominent Players

Few of the prominent players in the Ride-on mower market are as follows

Deere & Company.
Ariens Company.
SPARTAN MOWERS
Toro Garden company
Cub Cadet LLC
MTD Products
Swisher Mower & Machine Company, Inc.
Dirty Hand Tools
Ryobi Hardware manufacturing company
Husqvarna Group

Key Market Segments in the Ride-On Mower Market:

By Type:

Zero turn mower
Garden tractor
Lawn tractor

By Mower:

Rotary mower
Reel mower
Sickle mower
Flail mower

By Energy Source:

Electronic Gasoline Injected Engine
Electric riding mower

By Transmission:

Automatic/hydrostatic transmission
Manual transmission

By Region:

North America
Latin America
Asia Pacific
MEA
Europe

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Author:

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

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Nandini Singh Sawlani

Guar Gum Market Propels Forward with a 6.00% Growth Rate by 2034: Unveiling Market Trends

The guar gum market is estimated to be valued at US$ 239.4 million in 2024. It is expected to rise to US$ 398.0 million by 2034.

Guar gum is widely used in industries such as oil and gas, cosmetics, and pharmaceuticals, in addition to food. It is used in pharmaceutical tablets and capsules as a binder, disintegrant, and controlled-release component. Guar gum is a thickening, emulsifying, and stabilising substance that is commonly found in cosmetic creams, lotions, and personal care products.

Because of its widespread application in the culinary, pharmaceutical, cosmetic, and oil and gas industries, the guar gum business is rapidly increasing. Guar gum demand is expected to grow as companies continue to seek natural and usable components that will increase industrial potential and innovation.

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The three principal product type sectors are food grade, fast hydrated gum oil drilling grade, and industrial grade. The market has been segmented into numerous end-use industries, including food and beverage, fracking, textile, pharmaceutical, and others. The important portions include the core functions of thickening and stabilisation, binding agent, and other functional properties.

Among the product types, the fast-hydrated gum oil drilling grade segment will continue to remain attractive during the assessment period. This segment currently accounts for nearly 70% revenue share of the market and is likely to remain lucrative throughout the forecast period. The fast hydrated gum oil drilling grade is likely to surpass US$ 800 Mn in revenues by the end of the forecast period.

Demand for guar gum is likely to remain robust in the fracking segment. Currently, fracking accounts for over two-thirds revenue share of the market, and it is highly likely that the dominance of this segment will continue beyond 2017. This segment is projected to grow at a CAGR of 2.4% to reach a valuation of over US$ 800 Mn by the end of the forecast period.

The use of guar gum has been witnessing an increase owing to its growing application in the oil & gas industry. However, as the oil and gas industry is going through a sluggish phase, the demand for guar gum has declined to an extent. Some of the sluggishness on account of oil & gas is likely to be compensated by growing demand in the food and beverage industry. Guar gums find wide-ranging applications in the food & beverage industry, where it is used as a thickener and stabilizer.

Steady demand from the food and beverage industry is likely to provide an impetus to the growth of the guar gum market during the assessment period. Growth is likely to remain steady from the textile and paper sector, however, availability of other feasible alternatives can stymie demand to an extent.

Although still at a nascent stage, demand for guar gum in managing health disorders such as diabetes and cardiac elements presents an opportunity for manufacturers. Further advancement in the application of guar gum in the healthcare sector can open up new avenues of growth for guar gum manufacturers during the assessment period. Some of the leading players in the market include Lucid Group, Jai Bharat Gum, Hindustan Gums, Vikas WSP, Shree Ram Gum, Cargill Inc, Supreme Gums Pvt. Ltd, Ashland Inc., India Glycols Ltd, Rama industries and Lamberti.

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Region

North America
Latin America
Europe
Japan
APEJ
MEA

Product Type

Food Grade
Fast Hydrated Gum Oil Drilling Grade
Industrial Grade

End Use Industry

Food and Beverages
Fracking
Textiles
Pharmaceuticals
Other End Use Industries

Primary Function

Thickener and Stabilizer
Binding Agent
Other Functional Properties

Author

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

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

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

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

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

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Organic Lamb Market Flourishes, Reaching US$ 6.34 Billion by 2032: Exploring Sustainable Farming Practices

As per the report published by FMI, the global organic lamb market is projected to have a moderate-paced CAGR of 5.5% during the forecast period. The current valuation of the market is US$ 3.71 Billion in 2022. The market value of organic lamb is anticipated to reach a high of US$ 6.34 Billion by the year 2032. A historical CAGR of 2.7% has been recorded during 2021.

According to FMI specialists, health difficulties associated with non-organic meat are projected to drive the market growth for organic lamb. Meat obtained from animals fed various antibiotics and growth hormones offers a plethora of health risks.

Antibiotics cause bacterial food contamination, which has claimed the lives of more than 50,000 individuals in the United States and the European Union, according to a report. As a result, people’s health consciousness is growing, and they are increasingly seeking for organic alternatives.

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It is anticipated FMI that demand from young people and developing nations, which is surpassing supply, is predicted to drive a significant CAGR increase in the organic lamb market.

According to FMI, in addition to reducing food contamination, organic meat provides various benefits in cancer prevention due to its high concentration of vital vitamins and antioxidants. Furthermore, organic options contribute to the reduction of environmental contamination, particularly air pollution.

Furthermore, as countries have opened their borders in this period of globalisation, nations’ interdependence has grown. As a result, people in today’s society have far more opportunities to earn a living and live a happy life. However, numerous issues are projected to impede the organic lamb market’s growth throughout the forecast period. In the future years, lab-grown meat, pressure from animal welfare organisations, high costs, restricted raising, and rigorous government controls are expected to slow expansion.

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Key Takeaways from Market Study

Sales of organic lamb products in the US surpassed $2 billion in 2022. As a result of health-conscious consumers, the market for organic and natural lamb foods is expanding.
As of 2011, there were 2.3 million acres of pasture and grassland that met organic criteria in the United States, and there were 3.1 million acres of farmland.
Australia and New Zealand will likely be bitter rivals. Despite this, the market is likely to continue being modest.
The biggest market for lamb and organic lamb in New Zealand right now is China.
Europe accounted for 40% of the total organic lamb market share during the base year.
By the end of 2032, it is expected that the processed lamb market would have grown by 66 BPS, the volume will exceed 45,000 MT, and value will be close to US$ 200 million.

“The rising trend of consuming premium organic food products, coupled with mild taste and chewable nature of organic lamb is unraveling new opportunities for the market players prevailing in the organic lamb market.” says a Future Market Insights analyst.

Competitive Landscape

Several significant participants in the production of organic lamb are focusing on business growth and broadening their geographic reach in order to strengthen their positions in the organic lamb sector globally. Increasing production capacity and improving quality are two more strategies employed by large companies to get a competitive edge in the organic lamb industry.

Thomas Food International, Arcadian Organic & Natural Meat, Mallow Farm & Cottage, Colin & Sally’s Organic Lamb & Beef, Elliott Agriculture, Tulip Ltd, and Good Earth Farms are some of the key players in the market.

Recent Developments

On May 28, 2020, Australia-based recognized meat processing company “Thomas Food International” announced that the company has acquired 50% of ownership interest in Victoria, Australia-based company “Frew International”, a company that deals in sheep meat. The financials of the transaction were kept undisclosed. Moreover, the companies have publicized that they will continue to operate autonomously.

On October 15, 2019, Colorado, United States-based food company “Pilgrim’s Pride Corporation” announced that it has successfully acquired the United Kingdom-based meat company “Tulip Ltd.” Pilgrim has made a payment of $354 (all in cash) in order to bring the acquisition to a close. The transaction has reinforced Pilgrim’s UK-specific portfolio.

Author

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

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

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Rapid Advancements Propel Global Plastic Extrusion Machine Market Towards a Projected Valuation of Over US$ 10.75 Billion by 2032

In the midst of a notable upswing, the global plastic extrusion machine market is poised for remarkable growth, with an anticipated valuation of US$ 6,793.9 million in 2022 and a robust trajectory for further expansion. Fueled by a substantial Compound Annual Growth Rate (CAGR) of 4.70%, the market is on track to reach an impressive US$ 10,754.4 million by 2032.

The surge in demand for extruded plastic products across diverse industries, including packaging, consumer goods, construction, and automotive, lies at the heart of this expansion. These sectors increasingly rely on the versatility of extruded plastic components, driving the global plastic extrusion machine market to unprecedented heights.

The allure of plastic extrusion machines stems from their remarkable ability to enhance workflow efficiency and production volume while maintaining a high level of product stability. This fusion of speed and precision holds immense value for industries requiring the mass production of plastic components, positioning plastic extrusion machines as pivotal contributors to the evolution of modern manufacturing processes.

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The plastic extrusion process offers a prominent advantage by enabling the creation of intricate shapes and designs without compromising on quality. This method ensures the absence of cracks or imperfections, as plastic undergoes shear and compressive stresses exclusively. Furthermore, the process yields parts and components with exceptional surface finishes. An extruder machine encompasses crucial components like a barrel, screw, heaters, die, and screw drives. It operates based on the application of two essential conditions: pressure.

The extruder screw facilitates the mixing action of plastic compounds through shearing. This versatile plastic extrusion process finds application in the global market for producing plastic tires and belt conveyors. Extrusion machines accommodate various materials, including thermoplastic plastic, thermoplastic, and natural plastic, enabling the manufacturing of cross-sectional shapes such as cords, rectangles, squares, triangles, and hollow sections. This adaptability underscores the versatility of plastic extrusion machines in delivering diverse profiles with precision.

In essence, the plastic extrusion machine market is experiencing an era of sustained growth, thanks to its integral role in meeting the rising demand for extruded plastic products. As industries continue to recognize the efficiency and versatility of these machines, their influence on manufacturing and production processes is set to expand further.

Market Dynamics: Global Plastic Extrusion Machine Market

The plastic extrusion machine market is poised for growth during the forecast period, driven by significant factors including innovative processing technologies and the introduction of novel plastic products worldwide.

Moreover, various factors are expected to fuel the demand for plastic extrusion machines. These include the expansion of piping industries and the manufacturing sector in both emerging and developed regions, rising awareness about the advantages of plastic extrusion machines, increasing consumer consciousness towards eco-friendly equipment, and other conveniences. Manufacturers are presented with a robust opportunity to introduce innovative plastic products that cater to evolving consumer demands for fuel-efficient and high-performance lightweight vehicles. This confluence of factors positions the plastic extrusion machine market for favorable expansion.

Key Players:

Apex Engineers
Reifenhauserindia
Shyam Plastic Machinery
KraussMaffei Berstorff
Extrusion Technik USA, Inc.
TROESTER GmbH & Co. KG
Well Shyang Machinery (WSM)
W. Brabender Instruments Inc.
MITSUBA MFG. CO., LTD.
DEGUMA-SCHÜTZ GmbH

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Key Segments Covered:

By Machine Type:

Single-screw
Twin-screw

By Process Type:

Blown Film Extrusion
Sheet/Film Extrusion
Tubing Extrusion
Others

By Material:

PVC
Polypropylene (PP)
Polyethylene (PE)
Others

By Component:

ScrewDrivers
Heaters
Dies
Others

By Application:

Building and Construction
Medical
Transportation
Consumer Goods
Others

By Region:

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

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Author:

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

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Nandini Singh Sawlani

Global Industrial Water Cooling System Market Poised for Substantial Growth, Anticipates Reaching US$ 2,648 Million by 2032 with a Robust 4.7% CAGR

Embarking on a compelling trajectory, the global industrial water cooling system market is on the verge of significant expansion, with an estimated market value of US$ 1,673.1 million in 2022, expected to elevate to an impressive US$ 2,648 million by 2032. This notable ascent is supported by a resilient Compound Annual Growth Rate (CAGR) of 4.7%, forecasted for the period spanning from 2022 to 2032.

The driving force behind this extraordinary growth narrative is grounded in the escalating demand for water cooling systems, particularly in pivotal end-user industries such as food & beverage and pharmaceuticals. These sectors prioritize precise temperature control and efficient cooling processes, leading to an increasing reliance on industrial water cooling systems. This surge in demand underscores the critical role played by these systems in upholding product quality and process integrity.

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The historical growth trend of the industrial water cooling system market, with a CAGR of 3.8% from 2016 to 2021, underscores the enduring importance of water in various industrial sectors. Water serves as a fundamental chemical compound that finds application across a wide spectrum of industries, including manufacturing, power generation, and petrochemical sectors. Its versatility is evident in processes such as processing, fabrication, cooling, dilution, product transportation, cleaning, and as a highly efficient heat exchange medium.

Water stands as the paramount chemical compound essential across nearly all industrial sectors, encompassing manufacturing, power generation, and the petrochemical domain. Its multifaceted role spans processing, fabrication, cooling, dilution, product transportation, cleaning, and acting as a heat exchange medium.

However, the deployment of water for diverse industrial procedures renders it impure and elevates its temperature, necessitating efficient cooling to restore it to optimal operational levels for recycling and reuse. This is where industrial water cooling systems play a pivotal role in industrial contexts. Industries adopt an array of methods, including industrial-scale chillers, extensive cooling towers, and sophisticated heat exchangers, to address their water cooling needs and maintain operational efficiency.

Industrial Water Cooling System Market: Dynamics

The World Business Council for Sustainable Development (WBCSD) estimates reveal that approximately 22% of available water is allocated for industrial usage, with developed nations accounting for more than 55% and less developed countries utilizing around 7%. By 2025, an estimated 1,170 cubic kilometers of water will be consumed for industrial purposes.

Industrial Water Cooling System Market: Regional Overview

In the Asia Pacific region, the industrial water cooling system market is poised for rapid expansion due to robust industrialization in China, India, and Japan. North America and Western Europe markets are anticipated to grow at a moderate pace compared to the Asia Pacific region. This can be attributed to lower demand for cooling systems and the maturity achieved in terms of industrial development.

The burgeoning petrochemical industry in Latin America and the Middle East is expected to significantly contribute to higher revenue and enhance the market’s growth in these regions.

Key Players:

IWC (Pty) Ltd.
Cold Shot Chillers
Thermal Care, Inc.
Parker Hannifin Corporation
ThermoTek Inc.
G.I. Industrial Holding S.p.A.
Accudyne Industries
Heuch Pty. Ltd.
Rittal GmbH & Co. KG.
Freeze Co Systems, Ltd.
Hamon & Cie (International)
SPX Corporation
ENEXIO Management GmbH
Johnson Controls PLC
Berg Chilling Systems Inc.

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Key Segments:

By Product Type:

Dry Industrial Water Cooling Systems
Natural Draft Industrial Water Cooling Towers
Mechanical Draft Industrial Water Cooling Towers
Wet Industrial Water Cooling Systems
Industrial Water Condensers
Hybrid Industrial Water Cooling
Industrial Water Chillers
Industrial Heat Exchangers

By Application:

For Petrochemicals
For Pharmaceuticals
For Power Generation Plants
For Metal Working
For Food and Beverage
For Automotive
For Other Applications (HVACR etc.)

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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Author:

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

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Nandini Singh Sawlani

Global Safety Instrumentation Systems Market Set to Reach US$ 6,947.3 Million by 2032, Driven by a Steady 5.4% CAGR

Experiencing a notable surge, the global safety instrumentation systems market is poised for significant growth, projecting an impressive valuation of US$ 6,947.3 million by the year 2032. This reflects a substantial advancement from its 2022 value of US$ 4,123.3 million, propelled by a robust Compound Annual Growth Rate (CAGR) of 5.4% throughout the forecast period.

The escalating demand for safety instrumentation systems is intricately linked with the evolving landscape of engineering, which is progressively adopting a multidisciplinary approach. As industries transform into more complex and interconnected ecosystems, there is an increasing imperative for engineers and technicians involved in the engineering process to possess a comprehensive understanding of the intricacies and implications of safety instrumentation systems. This heightened awareness and expertise play a pivotal role in ensuring the secure and efficient operation of industrial processes, establishing a crucial foundation for the future of global industrial safety.

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Safety instrumentation systems serve as the bedrock of protection in various industrial settings and automation systems. Their role is multifaceted, encompassing hazard identification, safety requirement specification, and the ongoing maintenance of systems and operations throughout a plant’s operational lifespan. By providing this protective layer of functionality, these systems contribute significantly to operational safety, risk mitigation, and regulatory compliance.

The escalating demand for safety instrumentation systems is intricately linked to the progressively multidisciplinary nature of the engineering landscape. This surge is propelled by the growing imperative for engineers and technicians engaged in engineering processes to cultivate a profound awareness of the intricate implications associated with the operation and design of safety instrumentation systems.

Safety instrumentation systems hold paramount importance in conferring a protective stratum of functionality across diverse industrial processes and automation systems. These systems play a pivotal role in hazard identification, stipulation of safety requirements, and the ongoing maintenance of both the system and its operations throughout the entire lifecycle of the plant. This comprehensive approach underscores the critical role of safety instrumentation systems in ensuring operational integrity and risk mitigation across industries.

Key Observations:

Elevated Demand for Safety Solutions: The escalating need for safety solutions stems from heightened concerns surrounding industrial safety and the imperative to avert mishaps. A mounting emphasis on workplace safety and regulatory adherence is propelling the expansion of the Safety Instrumented Systems (SIS) market.

Significant Role in Oil and Gas Sector: The oil and gas industry emerges as a primary consumer of SIS, expected to maintain its market dominance due to the inherent high risks associated with its operations.

Thriving in Emerging Markets: Emerging regions like Asia-Pacific and the Middle East are poised for substantial SIS market growth, fueled by burgeoning energy demand and industrial expansion within these geographies.

Interlinking SIS with Diverse Systems: The integration of SIS with various systems like process control and emergency shutdown systems is gaining paramount importance as companies endeavor to enhance overall plant safety.

Technological Progression: The advent of innovative technologies such as wireless sensor networks and advanced analytics is propelling SIS market growth, addressing the quest for more efficient ways to oversee and govern operational activities.

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Key Players:

Some of the leading players operating in the safety instrumentation systems market include Emerson Process Management (the U.S.), Rockwell Automation (the U.S.), Johnson Controls, Inc. (the U.S.), General Electric Company (the U.S.), Yokogawa Electric Corporation (Japan), OMRON Corporation (Japan), ABB Ltd. (Switzerland), and Tyco International Plc (Switzerland).

Key Segments in the Safety Instrumentation Systems Market:

By Type:

Safety Switches
Safety Sensors
Emergency Stop Devices
Programmable Safety Devices

By Product Type:

Emergency Shutdown System (ESD)
Safety Interlock System
Safety Shutdown System (SSD)
Fire and Gas Monitoring and control
Burner Management System (BMS)
Turbo Machinery and Control (TMC)

By Application:

Chemical
Oil and Gas
Pharmaceutical
Paper and Pulp
Metal and Mining
Wastewater Treatment
Food and Beverages
Power Generation

By Region:

North America
Latin America
Asia Pacific
MEA
Europe

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Author:

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

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Nandini Singh Sawlani

Safety Limit Switches Market Primed for Advancements in Safety Standards, Envisages Exceeding US$ 3.3 Billion by 2032 with a Robust 6.1% CAGR

Embarking on a robust trajectory of growth, the safety limit switches market has already surpassed the US$ 1.8 billion mark in 2022 and is poised for further surge, reaching an estimated US$ 3.3 billion by 2032. This impressive journey is underpinned by a strong Compound Annual Growth Rate (CAGR) of 6.1%, underscoring the escalating significance and demand for these electromechanical devices.

At the core of this growth narrative is the rising demand for safety limit switches, driven by their distinctive functionality as electromechanical sensors seamlessly integrating with mechanical processes. These switches play a pivotal role in detecting and promptly responding to irregularities within sensor monitoring control systems. Their heightened sensitivity to deviations in mechanical operations stands as a paramount factor propelling the expansion of the safety limit switches market.

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Revolutionizing Industries: The Role of Safety Limit Switches

Safety limit switches stand as indispensable components across various industrial sectors, finding applications in packaging, garages, fire safety systems, food and beverages, and even within intricate domains like wood cutting. In the context of wood cutting, the challenges posed by airborne dust hinder visibility and precision. Operating machinery at high speeds amidst such an environment not only compromises accuracy but also jeopardizes safety.

Enter safety limit switches, serving as the pivotal solution within industries. These devices automate the inspection process, ensuring that wood cutting machinery attains the desired dimensions accurately. Crafted to meet the needs of manufacturing, these switches come in diverse models, including medium-duty, heavy-duty, and safety locking variations. In manufacturing settings, these switches play a crucial role in safeguarding personnel and equipment. For instance, during fire accidents or hazardous scenarios, limit switches detect anomalies and promptly trigger mechanisms to secure doors and mitigate potential risks.

This mechanical prowess is exhibited when a lever or knob is manipulated, closing doors swiftly and efficiently in response to safety concerns. In a world where precision, efficiency, and safety are paramount, safety limit switches emerge as the guardians of streamlined operations and personnel well-being.

Driving Forces and Emerging Trends in the Global Safety Limit Switches Market:

The dynamics within the global safety limit switches market are underscored by a confluence of influential factors. The surge in demand across diverse industries is a direct response to stringent government regulations that prioritize safety. Industries spanning automotive, manufacturing, metal, mining, plastics, and fire safety sectors are embracing safety limit switches with fervor, a move that significantly propels market expansion.

Within core industrial and manufacturing segments, the deployment of safety limit switches takes on heightened significance, particularly in hazardous environments where safety is non-negotiable. This growing emphasis on ensuring safety, coupled with the adoption of protective measures for industrial equipment, forms a pivotal driver behind the burgeoning safety limit switches market.

The backdrop of swiftly advancing technology, aligned with elevated industry benchmarks, further amplifies the adoption of safety limit switches. Their integration across diverse applications within respective industries bolsters the market’s robust growth trajectory. As safety and technological prowess converge, the safety limit switches market embarks on a journey of substantial expansion, reshaping safety norms and elevating industrial operations.

Key Players:

Examples of some of the market participants identified across the value chain include, Rockwell Automation, Idem, Scientific Technologies Inc., SICK, Schmersal India Pvt. Ltd., Schneider, OMRON,Honeywell,Siemens, Eaton,Technews Publishing (Pty) Ltd, Fuji,SUNS International,Micro precision, CHNT, DELXI, TER, Schmersal, ABB, and TURCK.

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Industry Segments:

By Product Type:

Compact limit switches
Precision limit switches
Enclosed limit switches
Limit switches for elevators
Plastic switches
Metal switches

By Technology:

Analogue
Open Bus

By End-Use:

Manufacturing
Fire and Safety
Oil & Gas
Food and Beverages
Power Generation
Metal and Mining
Others

By Regions:

North America
Europe
Asia Pacific
Latin America
South Africa

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Author:

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

About Future Market Insights (FMI)

Contact Us:

Nandini Singh Sawlani