Market Research Blog – Page 4381 – New Product Development

Prep Refrigerators Market on Ice: Expected to Reach US$ 12.7 Billion by 2033 with a 4.5% CAGR Surge

The global prep refrigerators market is primed for substantial growth, with an expected value of US$ 8.2 billion in 2023. Fueled by the increasing demand for environmentally friendly refrigeration solutions, this market is projected to showcase a notable Compound Annual Growth Rate (CAGR) of 4.5% between 2023 and 2033. By 2033, it is poised to attain a significant market valuation of approximately US$ 12.7 billion.

One of the primary driving forces behind this growth is the increasing adoption of commercial kitchens, particularly in the food service industry. According to Future Market Insights (FMI), the expanding food service sector, especially in emerging economies, is driving the demand for large-scale food production. This surge in food production necessitates specialized equipment, including commercial kitchens and, consequently, prep refrigerators.

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The growth of the prep refrigerators market is also being driven by the expansion of the food service industry in emerging economies. A growing need for commercial kitchens and food storage solutions has been witnessed, as more people dine out more frequently. The need for customized and flexible refrigeration solutions that can meet the unique needs of individual businesses is also piquing the interest of food service providers in prep refrigerators.

Key Takeaways:

The global prep refrigerators market was valued at US$ 7.8 Billion by 2022.
From 2018 to 2022, the market demand expanded at a CAGR of 2.3%.
North America is expected to hold a dominant CAGR of 4.4% during the forecast period.
By type, combination refrigerated prep tables are expected to rise in demand at a CAGR of 4.3%.
By distribution channel, online retail stores are expected to dominate the market with a CAGR of 4.2%.

Competitive Landscape:

Prominent players in the prep refrigerators market are TRUE, Empura, Dover Corporation, Electrolux Professional, The Middleby Corporation, Delfield, Nella, New Air, Atosa, Beverage Air, Turbo Air, Universal, Haier Group, Hoshizaki, and Leader, among others.

Recent Developments:

In 2021, True Manufacturing announced the launch of a new line of glass door refrigerators and freezers that use natural refrigerants and are designed to be highly energy-efficient. The company also expanded its production facilities in Missouri to meet the growing demand for its products.
In 2021, Dover Corporation completed the acquisition of So-Low Environmental Equipment Co., a manufacturer of low-temperature freezers and refrigerators. The acquisition is expected to expand Dover’s product portfolio and strengthen its position in the scientific and healthcare markets.
In 2021, Hoshizaki Corporation announced the launch of a new line of prep refrigerators with advanced features such as remote monitoring and digital controls.

More Valuable Insights Available:

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

To understand opportunities in the prep refrigerators market, the market is segmented on the basis of type (prep tables with doors, prep tables with drawers, and combination refrigerated prep tables), by top type (standard top, mega top, and cutting top), refrigeration method (air-cooled, cold wall, and liquid jacket), by distribution channel (offline stores, and online retail store) across five major regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).

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Key Segments Profiled:

By Type:

Prep Tables with Doors
Prep Tables with Drawers
Combination Refrigerated Prep Tables

By Top Type:

Standard Top
Mega Top
Cutting Top

By Refrigeration Method:

Air Cooled
Cold Wall
Liquid Jacket

By Distribution Channel:

Offline Stores
- Hypermarkets
- Departmental Stores
- Multi-brand Stores
- Discount Stores
- Specialty Stores
Online Retail Stores

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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Author:

Ronak Shah (Associate Vice President at Future Market Insights) is deeply committed to uncovering actionable insights for consumer and food and beverage players. She brings a unique blend of analysis, industry trends, and consumer behavior to put data into perspective.

What she makes out of data becomes a delight to read. She has authored many opinions, including for publications like Process Industry Informer and Spinal Surgery News, as she understands the market pulse and consumers’ shifting preferences.

She likes to bring experts to a roundtable to weigh the impact of a trend on an industry. Catch up with her discussion on the impact of AI in packaging.

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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Center-less Grinding Machines Market Analysis: Anticipated Growth at 10% CAGR from 2023 to 2033, Totaling US$ 18 Billion

The center-less grinding machines Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the center-less grinding machines market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for center-less grinding machines. 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.

The global center-less grinding machines market is poised for remarkable growth, projected to achieve a valuation of an impressive US$ 6.9 billion by the year 2023, and is anticipated to scale new heights, surging past US$ 18 billion by the year 2033. This prodigious expansion is set to transpire through a steady and robust Compound Annual Growth Rate (CAGR) of 10% from 2023 to 2033.

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Driving Factors Accelerating the Market:

Technological Advancements: Pioneering innovations in center-less grinding machine technology are steering the industry into a new era of efficiency and precision. These advancements are empowering businesses to achieve unparalleled levels of productivity, quality, and cost-effectiveness.

Rising Automation: Automation has become the cornerstone of modern manufacturing processes, enhancing operational efficiency, reducing labor costs, and minimizing errors. Center-less grinding machines are at the forefront of this automation revolution, driving their widespread adoption across industries.

Growing Demand for Precision Engineering: In an era where precision is paramount, center-less grinding machines are the linchpin of precision engineering. Industries such as aerospace, automotive, and medical devices rely on these machines to achieve the utmost precision in their components, further boosting market growth.

Global Industrial Expansion: The expanding industrial landscape across emerging economies is fostering the demand for center-less grinding machines. As manufacturing sectors burgeon in regions like Asia-Pacific, the market is set to capitalize on this global industrial resurgence.

Challenges Posing Restraints:

Cost Constraints: Despite their immense benefits, high initial investment costs associated with center-less grinding machines can be a deterrent for small and medium-sized enterprises (SMEs). This financial hurdle needs to be addressed to unlock the full potential of the market.

Skilled Workforce Shortage: Operating and maintaining center-less grinding machines requires a skilled workforce. The shortage of skilled technicians poses a challenge for the market, necessitating investment in training and development.

Environmental Concerns: As sustainability takes center stage, the environmental impact of manufacturing processes is under scrutiny. Center-less grinding machines, like all industrial equipment, must address environmental concerns, potentially leading to stricter regulations.

Dynamic Competitive Landscape

In the fiercely competitive arena of the global center-less grinding machines market, industry leaders spare no effort in advancing their technological prowess through substantial investments in research and development. Their primary objective? To introduce groundbreaking machinery that boasts superior selectivity, reduced energy consumption, and heightened durability.

These visionary frontrunners are not stopping there. They are channeling their innovation into developing cutting-edge membranes capable of operating at elevated temperatures and pressures. These advancements not only bolster operational efficiency but also broaden the spectrum of industrial applications.

Furthermore, some astute companies have strategically formed partnerships and collaborations with local enterprises and esteemed research institutes. This strategic synergy facilitates the exchange of knowledge, expertise, and valuable resources, propelling manufacturers towards the rapid development of pioneering technologies and an expanded portfolio of offerings.

For instance:

June 2022 witnessed a remarkable acquisition, as Resonetics, a prominent industry player, acquired Agile MV, hailing from Montreal, Quebec. This strategic move led to the renaming of Resonetics’ design and development services division, now proudly known as AGILE Product Development. This acquisition exemplifies Resonetics’ commitment to staying at the forefront of product development and turnkey device assembly.

In February 2019, Resonetics struck another strategic deal, this time acquiring Caribou Technologies, a distinguished Minnesota-based authority in center-less grinding, forming, winding, machining, and laser processing for the medical device sector. Caribou Technologies, in addition to serving a myriad of medical device manufacturers in the Minneapolis market, boasts a burgeoning international clientele, showcasing rapid market expansion.

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Key Companies Profiled

Acme Manufacturing
Fives Group
Glebar
Hanwha Machinery
Jainnher Machine

Center-less Grinding Machines Market Outlook by Category

By Machine Type:

Precision Center-less Grinding Machines
General-purpose Center-less Grinding Machines

By Application:

Automotive
Aerospace
Manufacturing
Electronics
Medical
Others

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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

Power-to-X Market: Revolutionizing Energy Landscapes with a Projected CAGR of 9.8%, Set to Exceed US$ 484 Million by 2033

The power-to-X market is gearing up for a period of dynamic expansion, with a projected Compound Annual Growth Rate (CAGR) of 9.8% during the forecast period from 2023 to 2033. Starting at a value of US$ 190 million in 2023, the market is expected to surge to a market worth of US$ 484 million by 2033.

One of the driving forces behind this remarkable growth is the surging demand for green hydrogen and other forms of sustainable energy across various industries, corporations, and organizations. As the world focuses more on environmentally friendly energy sources, Power-to-X technology, which facilitates the conversion and transformation of one type of energy into another, has risen to prominence.

The research report on the Power-to-X market underscores the crucial role of advanced technology in ushering in this new era of sustainable energy. With the ability to harness and convert various energy sources into usable forms, Power-to-X solutions have become a critical enabler of the global transition towards cleaner and more sustainable energy ecosystems.

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Key Driver for Power-to-X Technology:

The robust demand for power-to-X technology finds its impetus in its versatility across a multitude of industries. Notably, the technology holds the potential to engage in the synthesis of CO2, a pivotal greenhouse gas responsible for climate change. This intrinsic capability to tackle a critical environmental concern adds to its significance. Additionally, the escalating appetite for energy, particularly of the sustainable kind, has spurred both governments and organizations to explore alternative avenues.

Diverse Applications Beyond Traditional Sources:

In tandem with solar and electrical mediums, the prowess of technology to transform one energy source into another emerges as a valuable asset. Noteworthy is the mounting requirement for green hydrogen and ammonia. This demand surge has had a direct positive impact on the adoption of power-to-X technology, addressing the scarcity of resources for these vital elements.

Key Highlights:

The global market is led by the power-to-hydrogen segment, driven by the burgeoning demand for green hydrogen essential in electric battery manufacturing.
Within the end-user category, the transportation segment spearheads the trend, propelled by the rising adoption of e-fuels like e-petrol, e-diesel, and e-kerosene.
Europe commands the largest market share, with APAC also gaining significance due to substantial government investments in sustainable plants and technologies, especially in emerging economies like India and China.

Competitive Outlook:

Industry competitors focus on developing flexible platforms for efficient energy conversion. Extensive research and development efforts result in versatile, high-performance technologies adaptable across various power resources. The emphasis on producing hydrogen efficiently is in response to its heightened demand. Europe boasts major players like Lindem REFHYNE and Ceres Power, actively promoting their innovative initiatives through expert publications.

Recent Developments:

Man Energy Solutions launched a program to minimize CO2 footprints by converting renewable electricity into synthetic gas or hydrogen, catering to industrial, mobility, and heating needs.
Weidmüller introduced a comprehensive hydrogen production system through sustainable power-to-X technology, ensuring safe processing, storage, and supply.
Thyssenkrupp offers green hydrogen and grid flexibility solutions, utilizing a gas grid for efficient power transportation, conversion, and supply.

Key Players:

IRENA
Neles
Underground Sun Conversion
Weidmüller
Heat Smart Orkney
Copenhagen Infrastructure Partners
Jupiter 1000
Air Liquide

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Power-to-X Market Segmentation:

By Type:

Power-to-H2
Power-to-CO/Syngas/Formic Acid
Power-to-NH3
Power-to-Methane
Power-to-Methanol
Power-to-H2O2

By End Use:

Transportation
Agriculture
Manufacturing
Industry
Residential
Others

By Region:

North America
Europe
East Asia
South Asia & Pacific
MEA

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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.

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Shining Bright: Diamond Core Drilling Market Poised to Sparkle at US$ 3.7 Billion by 2033 with a 6.3% CAGR

In 2023, the global diamond core drilling market is impressively valued at US$ 2 billion, with a promising projection to reach US$ 3.7 billion by 2033. This robust growth is attributed to several key factors, with population expansion playing a central role.

The world’s population continues to expand, leading to increased demand for housing, infrastructure, and commercial spaces. The upsurge in construction activities is a direct consequence of this population growth. Many countries are embarking on ambitious infrastructure projects to accommodate their growing populations, providing a significant boost to the diamond core drilling market. Urbanization is another significant driver, as people from rural areas migrate to cities in pursuit of better opportunities. This migration fuels the need for more buildings and urban development, further driving the construction industry and, consequently, the diamond core drilling sector.

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Key Takeaways from FMI’s Diamond Core Drilling Market Study:

In terms of end-use, the construction industry will hold a majority of the share however increasing mineral production rate across the globe will increase the application of diamond core drilling in the mining industry
Due to stringent safety protocol and increasing fatalities in mining industries, adoption of rig-operated drilling machines is increasing, boosting segment growth
Based on drilling technique, stitch drilling is expected to account for lion’s share in the global diamond core drilling market
Germany is expected to be one of the most lucrative markets owing to the presence of leading companies
India is expected to witness lucrative growth opportunities backed by rising application in the mining and construction industry
China will lead the East Asia’s diamond core drilling market owing to the favourable government initiatives to increase the adoption of automated drilling machines

Competitive Landscape:

Dominance of top five players has left the market consolidated, creating an entry barrier for new players in global diamond core-drilling market. Adoption of inorganic growth strategies to gain exposure in the overseas territories is one of the major factor expected to create growth opportunities.

Future Market Insights identifies Hilti Corporation, Epiroc AB, Bogart Long year, Robert Bosch, and Husqvarna AB among the top 5 players in the diamond core drilling market. The contribution of these top 5 players in global market revenue, collectively, is estimated to be around 13.6%.

Recent Developments:

Key manufacturers are focusing on technological advancement and product customization which is expected to expand their regional footprints in the industry, spurring sales.

For instance, Barsele Minerals Corporation, on 7^th June 2021, announced the resumption of diamond drilling activities which included drilling for 3,000 meters to test orogenic gold and volcanogenic massive sulphides. The drilling exploration program is operated through a joint venture with Agnico Eagle Mines Limited.

The company also announced the acquisition of Agnico Eagle’s indirect 55% interest in the Barsele Project and upon completion of the drilling project, the company will take over Agnico Eagle Mines Limited, consolidating 100% control.

Also, in June 2021, another manufacturer, Tectonic Metals Inc. announced the company’s exploration plans, anchored by two oriented diamond drilling campaigns, Tibbs Gold Project and Seventymile Gold Project in Alaska. The company is using rotary air blast drilling to carry out the exploration program.

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Diamond Core Drilling Market Segmentation:

By Operation Type:

Hand Held,
Rig Operated

By Drilling Technique:

Stitch Drilling,
Underwater Diamond Drilling,
Surface Drilling,
Underground Drilling

By Drilling Type:

Rotary Drilling,
Wireline Drilling

By End Use:

Construction Industry,
Mining Industry (Open Pit Mines, Closed Pit Mines)

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East and Africa (MEA)

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Author:

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

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Plucker Machine Market to Reach US$ 2,474 Million by 2033, Riding a 4.5% CAGR Wave

The plucker machine market, though relatively modest in size, is undergoing rapid evolution, with a value of US$ 1,593 million in 2023 and a promising projection to surge to US$ 2,474 million by 2033. This trajectory is supported by a consistent Compound Annual Growth Rate (CAGR) of 4.5% during the forecast period.

Primarily used in agriculture, including applications in small-scale chicken farming and the harvesting of fruits and vegetables, plucker machines are quietly gaining significance in these industries. They are emerging as a cost-effective and efficiency-enhancing alternative to traditional harvesting methods.

One of the key drivers behind the growing popularity of plucker machines is their ability to substantially reduce labor costs while improving overall efficiency. In the agriculture sector, these machines are proving to be invaluable assets, especially for small-scale farmers seeking to maximize productivity and minimize manual labor requirements.

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Sheep Handling Equipment Sector: Accelerated Growth Envisaged

Comparing the projected trajectory with the observed 4% CAGR between 2016 and 2022, the sheep handling equipment sector is poised for an accelerated expansion, manifesting a 4.5% CAGR spanning from 2023 to 2033. The market’s average growth pattern, predicted to hover around 62.2% between 2022 and 2033, attests to its dynamic evolution and resilience demonstrated across a gamut of applications. This robust pace of development underscores the sector’s adaptability and evolving dynamics within a transformative agricultural landscape.

Automated Plucking Machine Influencing the Market Share:

The market for plucker machine is anticipated to rise as processed poultry products become more popular. The demand for plucking machines is anticipated to rise due to the rising demand for convenience foods and the rising consumption of processed poultry.
The development of automated plucker machines and the growing emphasis on food safety and cleanliness are the key growth factors of the plucker machine.
While automated plucker machines are more compassionate and effective than hand plucking machines, the growing concern for animal welfare is predicted to increase demand.
The sales of plucker machine are anticipated to be constrained by the high cost. The market growth is expected to be constrained by a lack of technological know-how and skilled workforce.

Fast Food Chains Extended Operations Raises the Demand for Plucker Machine:

Plucker machines are being used by fast food restaurants quickly to meet client demand effectively and quickly. Popular fast food restaurants like KFC, Domino’s, McDonald’s Corporation, and Taco Bell are expanding into new countries. Over the projection period, this is likely to increase the adoption of plucker machine.

The top manufacturers of plucker machines concentrate on developing state-of-the-art processing equipment. Due to this newly created machinery, several products made of bird meat now have extended shelf lives.

Key Players:

Sss Ideas
Ardisam, Inc.
HWL
AI Abbas International
Global Kitchen Equipments Company
Universal machines
SriVeni Industries
Zhucheng Xinhaoyun Machinery Co. Ltd.
RUIANSHISUIKANGXIEYESHANGHANG
Cuilvu
Each bid
Buffalo Tools

Recent Developments:

New loan facilities of $63,200,000 were closed by Ardisam, Inc. and Huntington Business Credit in June 2022. The funds from the facility were used to refinance existing debt and continue financing working capital expansion.
The purchase of superior equipment group, Inc. by John Bean Technologies Corporation, was disclosed in June 2019. The acquisition of premier brings us one step closer to realizing our goal of dominating the chicken market and providing premium products and services.

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Key Segments:

By Capacity:

Less than 5 Birds
5 to 15
15 to 30
More than 30

By Material:

Stainless Steel
Mild Steel

By Motor Power:

0.5 Hp
1 Hp
2 Hp
More than 2 Hp

By Region:

North America
Latin America
Europe
East Asia
South Asia Pacific
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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Gas Insulated Substation Market Poised to Exceed US$ 24.6 Billion by 2033 with a 5.4% CAGR, Predicts Future Market Insights

The global gas insulated substation market is on the verge of substantial growth, with an estimated value of US$ 14.6 billion in 2023. According to an extensive analysis conducted by Future Market Insights (FMI), this market is anticipated to skyrocket to an impressive US$ 24.6 billion in the next decade. Projections for the period spanning from 2023 to 2033 indicate a robust Compound Annual Growth Rate (CAGR) of 5.4%, marking a significant expansion in the industry.

The driving force behind this remarkable growth is the escalating demand for compact, low-maintenance power systems. Gas-insulated substations have emerged as a superior alternative to their air-insulated counterparts, offering improved reliability and efficiency.

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Market Drivers and Challenges in the Gas-Insulated Substation Landscape:

The gas-insulated substation market is on an expansion trajectory, driven by the escalating value of per-hectare land. These substations’ space-efficient design demands significantly less room than conventional counterparts, requiring merely 10% of the installation area. This compact footprint is a compelling factor propelling market growth.

Globally, the momentum has swung toward investments in clean and renewable energy ventures. This transition, coupled with burgeoning renewable projects and heightened electricity consumption, positions the gas-insulated substation market for a promising future, teeming with potential.

Key Drivers:

Adaptability and Compactness: The market is set to burgeon over the next seven years owing to the soaring demand for adaptable solutions that can seamlessly fit within diverse structures. The ascendancy of compact power systems is expected to steer global market expansion, while the substation’s resilience in challenging environments like arctic or desert regions is poised to amplify its market footprint.

Key Insights:

U.S. Dominance: Throughout the forecast period, the U.S. is projected to capture the lion’s share of the global gas-insulated substation market. This leadership is attributed to regional industry leaders adept at tailoring designs to meet operational requisites, ensuring cost-efficiency without compromising stability or employee well-being.
Asia Pacific Ascendancy: The Asia Pacific region, spearheaded by China and Japan, is poised to claim the highest market share. Market players in this region have notably introduced phase-separated and enclosed type GIS solutions that exemplify compactness and robust construction, fortified by years of expertise.
Indoor Installation Prowess: The “indoor” installation category is anticipated to command the lion’s share of revenue throughout the forecast period. Its versatility to be placed in confined spaces, residential zones, and industrial complexes—coupled with its portability—positions it as a dominant revenue generator.

Key Players:

General Electric Company
Hitachi Ltd.
ABB Ltd.
Larsen & Toubro Limited
Siemens AG
Mitsubishi Electric Corporation
Eaton Corporation PLC
Toshiba Corp
CG Power and Industrial Solutions Ltd
Schneider Electric SE
Bharat Heavy Electricals Limited
Elsewedy Electric Co S.A.E.
Powell Industries Inc.
Hyosung Corp

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Recent Developments:

In November 2018, ABB has been granted a contract by German grid operator TransnetBW for an electrical substation upgrade. ABB is responsible for installing the world’s first 380kV gas-insulated switchgear under the $40 million contract.
In 2020, The Hitachi ABB Power Grids joint venture was formed by Hitachi Ltd. The new business is anticipated to offer financial power to support ambitious projects and new commercial potential as the sector embraces decentralization and digitization.

Key Segments Profiled in the Gas Insulated Substation Market Survey:

By Basis of Installation:

Indoor
Outdoor

By Voltage Rating:

Medium Voltage (Up to 72.5 kV)
High Voltage (72.5 kV – 220 kV)
Ultra-High Voltage (220 kV – 765 kV)

By End User:

Power Transmission & Distribution
Manufacturing & Processing

By Region:

North America
Latin America
Asia Pacific
Middle East and Africa (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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High Pressure Processing Equipment Market Set to Exceed US$ 1.1 Billion by 2033 with a Strong 12.8% CAGR

With a robust Compound Annual Growth Rate (CAGR) of 12.8% paving the way from 2023 to 2033, the high pressure processing equipment market is positioned to attain an impressive valuation surpassing US$ 1.1 billion by 2033.

The driving force behind this growth narrative is the emergence of innovative clean label products that resonate with increasingly discerning consumers who are well-informed about their inherent benefits. This transformative trend serves as the foundation for the dynamic expansion anticipated in the high-pressure processing equipment market throughout the forecast period.

A critical factor influencing the global market’s scale is the rate of adoption of High Pressure Processing (HPP) equipment, particularly in the realm of cold pasteurization within the Food & Beverage sector. Clearly, during this evaluation period, the projected $133.5 million market for HPP equipment is set to provide a promising window of opportunity, forecasting an incremental increase of US$ 350.5 million. This evolution not only represents growth but also underscores the market’s capacity to drive innovation, efficiency, and transformative solutions.

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FMI’s Insights on Growth Catalysts:

According to FMI, the surging global demand for processed, packaged, and ready-to-eat food products is instigating a notable uptick in the utilization of high pressure processing equipment within the food and beverage industry. The ascendancy of health concerns and heightened consumer awareness regarding the health benefits stemming from “clean label” foods are poised to wield substantial influence on market growth from 2023 to 2033. Moreover, the enforcement of stringent regulatory norms pertaining to food safety, particularly evident in North American and West European countries, is compelling food processing entities to adopt efficient HPP equipment within their processing facilities.

Dominant Role of Horizontal Vessels in Arrangement Types:

Amid the landscape of vessel arrangement types, the horizontal vessel segment is anticipated to emerge as the prevailing market component in terms of value by 2026. The escalating demand for horizontal vessel arrangements is projected to make a significant contribution to the overall market expansion. These horizontal vessels facilitate seamless loading and unloading operations while boasting a generous volume capacity, thus garnering heightened preference in the market.

In the realm of applications, the meat segment secures the pinnacle position in both value and volume. In contrast, the juice & beverage segment is poised to exhibit the most rapid growth in value during the forecast period.

When gauged by capacity, the call for vessels or containers exceeding 300 litres is expected to gain momentum in the coming years. Despite their elevated cost, the above 300 litres vessel category is projected to register a robust Compound Annual Growth Rate (CAGR) due to their substantial holding capacity.

Regional Landscape and Future Trajectories:

The North American domain is set to continue its reign as a market leader during the forecast period. Back in 2016, this region commanded over 40% of the market share, closely followed by Europe. In tandem, these regions accounted for nearly 75% of the market share in terms of value. Notably, the flourishing HPP equipment market within North America can be attributed to soaring demand from tolling services providers and their expanding application spectrum across various end-use sectors. Looking to the Asia Pacific, particularly China, a robust adoption of HPP equipment across diverse industrial domains is projected to unfold in the coming years.

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Competitive Dashboard:

Apart from Hiperbaric S.A, Stansted Fluid Power Ltd, Multivac Group, Bao Tou KeFa High Pressure Technology Co., Ltd, Avure technologies, and Kobe Steel, Ltd., are some other key players operating in the global market for high pressure processing equipment.

Key Segments:

By Application:

Fruits & Vegetables
Juice & Beverages
Meat
Sea Food
Other

By Product Type:

Below 100 Liters
100 Litres-300 Liters
Above 300 Liters

By Vessel Arrangement:

Vertical
Horizontal

By Region:

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

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Author:

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

About Future Market Insights (FMI)

Contact Us:

Nandini Singh Sawlani

Global Extremity Tissue Expanders Industry’s CAGR of 6.3% Leading to US$1,842.6 Million by 2028 | Says FMI

The Global Extremity Tissue Expanders Industry is on the verge of significant growth, and the driving forces behind this expansion are the increasing aging population and the growing prevalence of plastic surgery. According to the latest research conducted by [Future Market Insights], this dynamic market is projected to reach a substantial value of US$1,842.6 million by the end of 2028.

The comprehensive report on extremity tissue expanders not only underscores the market’s current vitality but also highlights its tremendous growth potential. The research anticipates an average year-on-year growth rate of 6.3% over the period spanning from 2018 to 2028. This robust growth trajectory is a clear indicator of the market’s resilience and the promising opportunities it offers.

As the aging population continues to increase and more individuals opt for plastic surgery procedures, the extremity tissue expanders market is poised for a prosperous future. Stay tuned for further insights and developments as this market continues to evolve and thrive.

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Extremity Tissue Expanders Industryt: Overview & Analysis

It is observed that reconstructive procedures has undergone a tremendous shift from the conventional invasive procedures to minimally invasive surgeries. Advancements and development of long-lasting improved extremity tissue expanders are expected to be the key factors driving the growth of the industry. Presently, advancements in technology have led to the development of the extremity tissue expanders, with an expansion of potential shape types. There are several limitations of the traditional and conventional medical surgeries, such as long recovery time, more chances of infection, and highly expensive procedures. These limitations have resulted in shift to minimally invasive procedures. Extremity tissue expanders today have become extremely versatile in nature with patient’s like-mindedness in going forward with the procedure. This transformation has led to a positive impact on the global extremity tissue expanders industry growth. The number of surgeries with extremity tissue expanders is expected to increase with other prevalent factors supporting the rise of the extremity tissue expanders market in terms of adoption.

The availability alternative treatment options for reconstructive surgeries, may hamper the growth of the global extremity tissue expanders industry. In order to leverage the presence of a large patient pool, various medical device companies involved in the extremity tissue expanders market and new entrants are developing treatment options that can improve the care for reconstructive procedures. Moreover, the European Medical Agency has very stringent regulatory approval standards due to which most of the products fail to reach the extremity tissue expanders industry. Several extremity tissue expanders manufacturers are focusing on the development of new products. However, due to stringent regulations and lengthy approval process, most of the products do not reach the extremity tissue expanders market, which hampers the growth of extremity tissue expanders industry to a certain extent, and hence alternative treatment options are getting adopted. Market is segregated into definite terms but the lack of procedure and products in developing countries effect the overall extremity tissue expanders industry growth and rise in alternative support care.

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Breast reconstruction segment by product type is expected to dominate the global extremity tissue expanders industry. Breast reconstruction segment is expected gain the market value of US$ 943.4 Mn in global extremity tissue expanders market during 2017. This is due availability of favorable reimbursement scenarios for the treatment of breast cancer. Breast reconstruction segment is of extremity tissue expanders by product type is also expected to grow at faster rate and it is anticipated grow ta CAGR of 6.3% over the period of 2018-2028 owing to rise in number of breast reconstruction procedure throughout the globe. Scalp reconstruction and oral and maxillofacial reconstruction segment of extremity tissue expanders industry by product type is expected to be the less lucrative in term of value.

By shape type, anatomical segment of extremity tissue expanders industry is expected to gain maximum market share and estimated to reach the market value of US$ 682.9 Mn in 2028. This is due variety of products with anatomical shape are available in the extremity tissue expanders industry. Among all end user, hospital segment is expected to be the most lucrative segment for extremity tissue expanders market though maximum number if breast reconstruction surgery performed in the hospitals.

North America is the expected to dominate the global extremity tissue expanders industry in term of value by region. North America region for extremity tissue expanders is estimated to gain market value of US$ 233.7 Mn in 2018, though this North America hold the maximum number of key manufacturers for extremity tissue expanders. After North America, extremity tissue expanders industry is then followed by Europe and APEJ. By region APEJ is anticipated to show faster growth than other region in global extremity tissue expanders market and APEJ region is projected to grow at CAGR of 7.7% over the forecast period.

Extremity Tissue Expanders Industry: Companies

FMI’s report tracks some of the key companies operating in the extremity tissue expanders industry, such as GC Aesthetics Plc., Koken Co. Ltd., Allergan Plc., Mentor Worldwide LLC, Laboratories Arion, Wright Medical Group N.V. Groupe Sebbin SAS, Sientra Inc., Guangzhou Wanhe Plastic Materials Co. Ltd., and Guangzhou Wanhe Plastic Materials Co., Ltd.

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Segmentation

The report offers a comprehensive taxonomy of extremity tissue expanders industry based on product type, shape type, end user and region. Based on product type extremity tissue expanders market is segmented as Breast Reconstruction, Scalp Reconstruction and Oral and Maxillofacial Reconstruction. On the basis of shape type extremity tissue expanders industry is segmented as round, rectangular, crescent, and anatomical and others.

The global extremity tissue expanders industry report also includes the end user segment which covers hospitals, ambulatory surgical centers and cosmetics clinics. The extremity tissue expanders industry has been analyzed across regions of North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan, Japan and MEA.

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

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 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Polymer Seals Market Set for Remarkable Growth, Projected to Achieve US$ 18.7 Billion by 2032

The global polymer seals market has witnessed substantial growth, with estimations indicating a valuation of US$ 11.3 billion in 2022. Projections for the upcoming decade paint an even more promising picture, with the market expected to expand at a Compound Annual Growth Rate (CAGR) of 5.1%, aiming to reach an impressive US$ 18.7 billion by 2032.

Polymer seals play a pivotal role in various industries, especially in the manufacturing of subsea equipment, turret swivel stack systems, production and exploration equipment, and transfer systems. These seals are renowned for their exceptional ability to meet stringent requirements regarding diameter, pressure, and temperature, rendering them indispensable components in critical applications across multiple sectors.

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Increasing defense budgets of governments are also expected in the coming years, which should generate further demand for polymer seals. For instance, the governments of India and China have been observed to increase their spending on defense in recent years, particularly for upgrading their respective air forces by investing in latest military-grade air crafts and fighter jets. Owing to the tense geopolitical climate in the region, the spending is set to rise in the near future and result in accelerating polymer seal sales.

FMI also predicts the emergence of certain market restraints from 2022 to 2032. These restraints are likely to stem from the fact that sealant production causes significant pollution. Small scale consumers are also poised to choose polymer seal substitutes due to the high expenses associated with polymer seals.

Key Takeaways from the Polymer Seals Market Study:

By material type, the polyurethane (PU) segment is anticipated to witness considerable demand growth at 4.9% CAGR from 2022 to 2032.
By product type, the sales of hydraulic and pneumatic seals are projected to expand at a CAGR of 5.6%.
By region, Europe is anticipated to witness substantial growth in the polymer seals market due to lucrative markets in Germany, Italy, and the United Kingdom.
India and China markets are anticipated to emerge as prominent polymer seals markets in Asia and register 6.9% and 6.0% CAGR, respectively.
By end use, transportation equipment was estimated to hold a prominent volume share of 30.4% in 2022.

Who is Winning?

Key players in the Polymer Seals include Saint-Gobain, ERIKS Group, SKF AB, Precision Polymer Engineering/IDEX, Trelleborg AB, Bal Seal Engineering, Parker Hannifin Corporation, Advanced Seals & Gaskets Ltd., Greene Tweed, TRP Polymer Solutions Ltd., Specialised Polymer Engineering Ltd., SHS Dichtungen GmbH, A.W. Chesterton Company, Carco Precision Rubber Products Spa, Novotema Spa

To gain a competitive advantage in the industry, key manufacturers are developing innovative polymer seal products. Market players are also heavily investing in expansion, mergers, acquisitions, and strategic partnerships to expand their global footprints.

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Global Polymer Seals Market by Category:

By Material Type:

Polyurethane (PU)
Acrylonitrile-butadiene-rubber (NBR)
Fluoro-rubber (FKM)
Polytetrafluoroethylene (PTFE)

By Product Type:

Hydraulic and Pneumatic seals
Rotary Seals
Spring Energized Seals

By End Use:

Transportation Equipment
- Automotive and Components
- Aircraft and Components
- Railroad Equipment
- Marine Transportation and Components
Industrial Machinery and Equipment
Electronic Apparatus and Appliances
Healthcare
- Medical Devices and Component Manufacturing
- Surgical Tool manufacturing
Oil and Gas Extraction
Construction Infrastructure and Utilities
MRO, Other Manufacturing, and Assembly

By Distribution Channel:

OEM
Aftermarket

By Region:

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

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Author:

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

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Nandini Singh Sawlani

Revolutionizing Manufacturing: Industrial Robotics Market Poised to Surpass US$ 220 Billion by 2033 with an 18.9% CAGR

The global industrial robotics market is experiencing remarkable growth, with an anticipated value that is set to exceed a remarkable US$ 220 billion by the conclusion of 2033. This surge is propelled by a compelling Compound Annual Growth Rate (CAGR) of 18.9% over the forecast period from 2023 to 2033. Key factors driving this upward trajectory include a heightened emphasis on enhancing productivity in high-volume production lines, particularly in the semiconductor and electronic device manufacturing sectors.

A noteworthy trend in the evolution of this market is the significant role played by East Asia. By 2023, East Asia is projected to emerge as the most lucrative industrial robotics market, capturing more than two-thirds of the revenue share. This dominance underscores the increasing demand for automation and robotics solutions in the heart of global manufacturing hubs, driven by the quest for efficiency and precision in production processes.

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Emerging Technology and Industry 5.0: A Paradigm Shift Toward Human-Centric Growth

A new technological epoch is upon us, one that places paramount emphasis on worker well-being and leverages novel technologies for expansive growth. This shift unfolds while meticulously honoring the planet’s production thresholds. Enter Industry 5.0, a movement that seeks to reintegrate the human touch into the realms of production and development. Prognosticating optimal deployment of human creative intellectual capacities, Industry 5.0 is poised to catalyze lucrative prospects for collaborative robots (cobots).

Noteworthy Insights from the Industrial Robotics Market:

United States Dominance: The global industrial robotics market is set to be led by the United States, anticipated to attain a valuation of $77.9 billion by 2033. This ascendancy is propelled by a robust compound annual growth rate (CAGR) of 18.7% during the forecast period. The demand surge for industrial robots within the high-tech electronics sector significantly bolsters this market expansion.
China’s Significance: China emerges as a formidable player in the industrial robotics arena, with a projected valuation of $15.8 billion by 2033. A substantial growth rate of 18.2% CAGR over the next decade fuels this trajectory. The automotive industry’s remarkable growth underscores China’s ascent in the market.
Japanese Market Dynamics: Japan’s market is slated to reach $12.9 billion by 2033, exhibiting a CAGR of 17.2% from 2023 to 2033. The market’s long-term drivers encompass burgeoning elderly care needs and the evolving population dynamics of yet-to-be retired baby boomers.

Noteworthy Market Developments by Key Players:

In March 2022, Mitsubishi Electric Corporation unveiled an advanced industrial robotics system that empowers robots to execute tasks within intricate environments like food-processing plants. Fusing Mitsubishi Electric’s Maisart AI technologies, including high-precision speech recognition, this system streamlines work tasks. Operators hold the reins to fine-tune robot movements to meet specific requirements, with plans for commercialization in 2023.
In October 2022, YASKAWA ELECTRIC CORPORATION inaugurated the Robotics Technology Center in Istanbul, Türkiye. Nestled in a pivotal industrial park within the city, the center showcases demonstration machines and operates systems. YASKAWA’s sustained investments in Türkiye affirm its commitment to involving customers in the development of products, technologies, and solutions spanning Europe.

Key Players:

Yaskawa Electric Corporation
FANUC Corporation
Kawasaki Heavy Industries Ltd
Kuka AG
Mitsubishi Electric
Teradyne Inc.
ABB Ltd.
Yamaha Motor Co., Ltd.
Hirata, Corporation
Denso Wave Incorporated
Toshiba Machine Co. Ltd.
OMRON Corporation
Others

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Industrial Robotics Market by Category

By Product Type:

SCARA Robots
Delta Robots
Cartesian Robots/ Gantry Robots
Articulated Robots
Collaborative Robots
Dual-arm Robots

By Application:

Assembly/Disassembly
Clean Room
Dispensing
Handling Operations
Processing/Cutting
Welding
Painting & Coating
General Applications

By End Use:

Automotive Industry
Electrical/Electronics Industry
Rubber & Plastics Industry
Metal & Machinery
Food & Beverages
Plastic & Auxiliary Chemical Products
Auxiliary Industries
Bulk Commodities & Materials

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.

About Future Market Insights (FMI)

Contact Us:

Nandini Singh Sawlani