Market Research Blog

The commercial kitchen ventilation system Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the commercial kitchen ventilation system market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for commercial kitchen ventilation system. 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 commercial kitchen ventilation system market is poised to achieve remarkable growth, with projections indicating a valuation of US$ 17.43 billion by 2033, as compared to US$ 11.73 billion in 2023. This substantial growth trajectory is attributed to a Compound Annual Growth Rate (CAGR) of 4.5% during the forecast period.

The exponential expansion of the global commercial kitchen ventilation system market is underpinned by a host of compelling driving factors:

1. Stringent Regulatory Norms: Governments across the world have implemented stringent regulations to ensure food safety and maintain air quality in commercial kitchens. Compliance with these regulations necessitates the installation and maintenance of advanced ventilation systems, driving market growth.
2. Rising Demand for Energy-Efficient Solutions: In an era of heightened environmental consciousness, commercial kitchens are increasingly adopting energy-efficient ventilation systems to reduce carbon footprint and operational costs.
3. Booming Foodservice Industry: The thriving foodservice industry, characterized by the proliferation of restaurants, cafes, and food delivery services, is bolstering the demand for efficient kitchen ventilation solutions.
4. Technological Advancements: Innovations in ventilation system technology, including smart and automated systems, are enhancing the efficiency and effectiveness of kitchen ventilation, further fueling market growth.
5. Health and Safety Concerns: Heightened awareness regarding indoor air quality and its impact on the health and well-being of kitchen staff is driving the adoption of advanced ventilation systems in commercial kitchens.

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Despite the promising growth prospects, the market is not without its challenges. The following factors serve as key restraints:

1. High Initial Investment: The installation of advanced commercial kitchen ventilation systems often requires a substantial upfront investment, which may deter smaller establishments.
2. Maintenance Costs: Ongoing maintenance and servicing costs can be significant, especially for complex ventilation systems, posing a financial burden to businesses.
3. Space Constraints: Commercial kitchens in urban areas frequently face space limitations, making the installation of ventilation systems a logistical challenge.
4. Competitive Landscape: The market is highly competitive, with numerous players vying for market share. This intensifies price competition and may impact profit margins.

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Key Takeaways:

• Stringent Regulations Drive Growth: Implementation of strict regulations concerning Volatile Organic Compound (VOC) emissions is a significant catalyst for expanding the commercial kitchen ventilation system market during the forecast period.
• Global Awareness on Environmental Impact: Increasing global awareness about the greenhouse effect and escalating pollution levels worldwide is expected to contribute to the market’s growth as businesses seek environmentally responsible solutions.
• Ongoing Trend: Demand Controlled Ventilation (DCV): The adoption of Demand Controlled Ventilation (DCV) systems is a noteworthy trend positively impacting the commercial kitchen ventilation system market’s growth.
• Continuous Innovation: Manufacturers are actively innovating to create ventilation systems tailored to specific kitchen requirements, emphasizing efficiency, control, and aesthetics. This drive for innovation is creating diverse opportunities within the commercial kitchen ventilation system market.

Competitive Landscape:

The gradual emergence of start-ups in this industry is poised to significantly influence the trajectory of commercial kitchen ventilation system market trends in the coming years.

As an illustrative example, Halton stands as a prime exemplar in addressing the evolving landscape of Ghost Kitchens and their ventilation requirements. Beyond its commitment to energy efficiency, environmental stewardship, and fire safety, Halton’s innovative Adaptive Hood System adeptly resolves the critical challenges associated with Ghost Kitchen ventilation.

Halton is well-prepared to engage with dedicated design teams, contractors, and tenants, offering comprehensive assessments of the system’s capabilities right from the initial design concept phase.

Key Players:

• Munters AB
• Nortek Incorporated
• Flakt Woods Group
• Solar & Palau Group
• Centrotee Sustainable AG
• Britannia Kitchen Ventilation ltd

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Key Segments Profiled in the Commercial Kitchen Ventilation System Market Survey

By Contact with Application Type:

• Restaurants
• Hospitals
• Corporate Offices
• Hotels
• Five Star Hotels
• Others

By Fan Type:

• High Volume Low Speed Fans
• Axial Fans
• Centrifugal Fan Sets
• Bifurcated Fan Sets
• Belt Driven Axial Fans
• In-Line Centrifugal
• Mixed Flow Impellers
• Roof Extract Fans

By Region:

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

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
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Future Market Insights (FMI), a premier provider of market intelligence and consulting services certified by ESCOMAR, unveils a comprehensive analysis of the global fire rated cables market. This thriving market, valued at US$ 1,802.6 million in 2023, is poised to reshape fire safety strategies across industries. Fueled by a range of applications and expanding industrial importance, fire rated cables are projected to witness substantial growth with a robust Compound Annual Growth Rate (CAGR) of 3.7% between 2023 and 2033. By 2033, the market is anticipated to reach a substantial valuation of US$ 2,592.2 million.

Overcoming Fire Hazards: Attributes of Fire Rated Cables

In the realm of fire tragedies, overcoming heat, toxic fumes, and smoke is paramount for safe evacuations. Fire rated cables, distinguished by their fire resistance, low toxic gas combustion, and smoke attributes, play a crucial role in maintaining circuit integrity during a fire. Their flame retardant properties, ease of installation, cost-effectiveness, and lack of halogen gases further enhance their appeal.

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Market Growth Drivers and Restraints

The market’s trajectory is propelled by a multitude of factors. The rapid expansion of the global construction sector, particularly in the commercial and office building segments, has driven the demand for sustainable building materials, including fire-rated electric systems. Modern commercial spaces are mandated to comply with green building codes, driving the adoption of fire-rated cables.

Moreover, the emphasis on workplace safety in key regions like Europe, North America, and the Asia Pacific has spurred demand for secure electric supply channels in factory facilities, boosting the adoption of fire rated cables. However, challenges such as high initial costs and complex installation procedures might act as temporary restraints.

Regional Insights: Leading the Fire Safety Revolution

The North American region is projected to spearhead the global fire rated cables market, thanks to stringent government safety mandates and regulations. The region accounted for a substantial 22% share of the global market, driven by the need for enhanced fire-resistant building structures. Abundant raw materials, established commercial channels, and prominent manufacturers in North America are expected to provide a fertile ground for market expansion.

Innovative Strategies Shaping the Market Landscape

Market players are capitalizing on diverse strategies to engage potential buyers and expand their customer base. Bhuwal Insulation Cable Private Limited (BICPL), founded in 2005, offers an array of Ceramic Yarn Insulated High-Temperature Cables. Axmon, established in 2016 by Michael T. Suffredini and Kam Ghaffarian, achieved its first spaceflight in 2022 and recently introduced a fire-rated Axmon extension cord with two outlets and two USB ports.

Top 10 Key Players:

• Prysmian Group
• Nexans S.A
• Elsewedy Electric
• TPC Wire & Cable Corp.
• Relemac Technologies Pvt. Ltd.
• RR Kabel
• RSCC Wire and Cable
• FirstFlex
• Cleveland Cable Company
• Universal Cable (M) Berhad

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Key Segments of Fire Rated Cables Industry Survey

Fire Rated Cables Market by Construction:

• Single Core Fire Rated Cables
• Multicore Fire Rated Cables

Fire Rated Cables Market by Type:

• Unarmored Fire Rated Cables
• Armored Fire Rated Cables
• Braided Fire Rated Cables
• Other Fire Rated Cable Types

Fire Rated Cables Market by Application:

• Fire Rated Cables for Residential Applications
• Fire Rated Cables for Commercial Applications
• Fire Rated Cables for Industrial Applications

Fire Rated Cables Market by Region:

• North America Fire Rated Cables Market
• Latin America Fire Rated Cables Market
• Europe Fire Rated Cables Market
• East Asia Fire Rated Cables Market
• South Asia & Oceania Fire Rated Cables Market
• Middle East & Africa Fire Rated Cables Market

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Author By:

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

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

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

About 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

The Factory Automation and Industrial Controls Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the Factory Automation and Industrial Controls market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for Factory Automation and Industrial Controls. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2032. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.

The global Factory Automation and Industrial Controls market has demonstrated remarkable resilience and growth, with a significant surge in its value over the past year. According to the latest data, the market’s value in 2022 reached a substantial US$ 130.84 billion. Furthermore, projections indicate that this dynamic industry is poised for substantial expansion, with an anticipated market value of US$ 216.65 billion by 2032, representing a compound annual growth rate (CAGR) of 5.2%.

These impressive figures raise the question: What are the driving forces that continue to propel the Factory Automation and Industrial Controls market forward, and what factors may serve as potential constraints to this phenomenal growth?

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Driving Factors

1. Technological Advancements: The Factory Automation and Industrial Controls sector thrive on innovation, constantly integrating cutting-edge technologies such as the Internet of Things (IoT), artificial intelligence (AI), and machine learning. These advancements have not only enhanced efficiency but have also paved the way for predictive maintenance, reducing downtime and increasing overall productivity.
2. Rising Demand for Efficiency: Industries worldwide are under relentless pressure to optimize their operations and maximize resource utilization. Factory automation and industrial controls provide the means to achieve these objectives, leading to increased demand across diverse sectors, including manufacturing, automotive, and aerospace.
3. Cost Reduction Initiatives: In an era where cost-efficiency reigns supreme, factory automation and industrial controls offer substantial savings by minimizing human error, reducing labor costs, and optimizing energy usage.
4. Global Supply Chain Challenges: The recent disruptions in global supply chains have underscored the need for robust and adaptable manufacturing systems. Factory automation solutions have stepped in to mitigate supply chain disruptions by providing agility and resilience.

Restraints

1. Initial Capital Investment: While the long-term benefits of factory automation and industrial controls are undeniable, the initial capital required for implementation can be a significant deterrent for some businesses.
2. Skilled Workforce Shortages: The transition to automated processes necessitates a skilled workforce capable of managing and maintaining these systems. A shortage of such talent can pose a challenge for companies looking to adopt these technologies.
3. Cybersecurity Concerns: As automation systems become more interconnected, the risk of cyberattacks becomes increasingly relevant. Ensuring robust cybersecurity measures is crucial to safeguard against potential threats.

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Key Takeaways:

• The North American factory automation and industrial controls industry is expected to experience growth at a Compound Annual Growth Rate (CAGR) during the projected period.
• The ongoing COVID-19 pandemic has accelerated the adoption of technology and digitalization by enterprises, aiming to mitigate the financial impact of pandemics and potential economic challenges.
• Factories are implementing measures to minimize social contact and protect employees from illnesses, leading to a rising demand for automated devices and systems.
• North American companies across various sectors are investing in automation to enhance their operational efficiency and prepare for increased automation in their processes.

Competitive Landscape:

In the dynamic landscape of the Factory Automation and Industrial Controls market, numerous prominent industry leaders collaborate to deliver cutting-edge solutions, elevating the global analytics arena to new heights.

Simultaneously, a burgeoning wave of innovative startups is emerging on the Factory Automation and Industrial Controls scene, poised to meet the evolving demands of this domain.

One such notable newcomer is AInnovation, established in 2018. AInnovation distinguishes itself through its AI-driven software tailored for sectors spanning retail, manufacturing, and insurance. Within the insurance sector, the company excels in intelligently analyzing diverse forms of customer negligence data, offering intelligent and adaptable pricing solutions. Moreover, AInnovation provides a robust image recognition and text analysis platform designed to assist insurance companies in streamlining their insurance claims underwriting processes.

Key Players:

• Honeywell International Inc.
• ABB Ltd
• Siemens AG
• Aspen Technology Inc.
• Emerson Electric Company
• Rockwell Automation Inc.
• Schneider Electric
• General Electric Co.
• Mitsubishi Electric Corporation

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Key Segments Covered in the Factory Automation and Industrial Controls Industry Analysis

Factory Automation and Industrial Controls Market by Product:

• Field Devices
• Industrial Control Systems
• Manufacturing Execution Systems
• Enterprise Resource Planning
• Product Lifecycle Management

Factory Automation and Industrial Controls Market by End Use:

• Automotive
• Oil & Gas
• Plastic
• Power
• Chemical & Petrochemical
• Mining & Metals
• Others

Factory Automation and Industrial Controls Market by Region:

• North America Factory Automation and Industrial Controls Market
• Latin America Factory Automation and Industrial Controls Market
• Europe Factory Automation and Industrial Controls Market
• Asia Pacific Factory Automation and Industrial Controls Market
• Middle East & Africa Factory Automation and Industrial Controls Market

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
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Rising Demand and Infection Control Drive the Market’s Growth

Future Market Insights, an ESCOMAR certified market research and consulting firm, projects a steady growth trajectory for the global disposable protective apparel market. According to their latest study, the market is poised to expand at a Compound Annual Growth Rate (CAGR) of 4.1% during the forecast period. The market is estimated to be valued at US$ 2,325.7 million in 2023, with a projected value of US$ 3,475.9 million by 2033.

Growing Need for Single-Use Protection Fuels Market Expansion

Disposable protective apparel is gaining traction as a vital solution in various industries due to its single-use design, which is subsequently either recycled or disposed of as solid waste. This term highlights the convenience of short-term usability rather than medium to long-term durability. Manufacturers of disposable protective apparel offer a comprehensive range of products that safeguard individuals from head to toe, including hard hats, respiratory masks, helmets, gloves, and more. The primary driver behind the increased demand for such single-use protective gear is infection control, significantly influencing the disposable protective apparel market share.

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Industry-Specific Adoption Propels Market Growth

Adoption rates of disposable protective apparel vary across industries, with its application guided by the Occupational Safety & Health Administration (OSHA) criteria. OSHA’s guidelines provide workers with essential information about appropriate attire and the required level of protection based on their work environment. This proactive measure by OSHA has significantly contributed to the upsurge in the disposable protective apparel market size in recent years.

Regulations and Standardization Foster Market Expansion

In addition to OSHA’s impact, government regulations and industry standardization within the personal protective equipment sector are anticipated to be strong growth drivers. The mounting demand for disposable protective apparel from healthcare, research, and pharmaceutical sectors has further propelled the global market share of disposable protective apparel.

Top Region – North America Leads the Charge

The global disposable protective apparel market is regionally segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these regions, North America stands out as the dominant force, projected to secure a remarkable revenue share of 24.6% during the forecast period. This can be attributed to the stringent safety regulations, heightened awareness about protection, and the presence of advanced healthcare and pharmaceutical industries in the region.

Strong Competition and Strategic Initiatives

The disposable protective apparel market is witnessing robust competition among key players. Notable industry participants are actively engaged in various strategies to elevate their market standing and achieve sustained growth. Mergers, partnerships, and acquisitions are some of the tactics being employed by these players to fortify their positions in the market.

As the global disposable protective apparel market continues to flourish, Future Market Insights remains committed to providing comprehensive insights and analyses that empower businesses to make informed decisions in this dynamic landscape.

Key Players:

• Lakeland Industries
• 3M
• DuPont
• Kimberly-Clark
• Cellucap Manufacturing
• Alpha Pro Tech
• Shenzhen Selen Static Scientific Co., Ltd.
• Royal TenCate NV
• L. Gore & Associates
• Cardinal Health
• Honeywell International

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Key Segments

By Application:

• Medical
• Aerospace
• Food
• Industrial
• Pharmaceutical
• Electronics
• Other (Bioclean, Hospital, & Semiconductor)

By Material Type:

• Tyvek
• Spunbonded polypropylene
• Compressed polyethylene
• Others (Vinyl)

By Product Type:

• Disposable gloves
• Splash gowns
• Lab coats
• Aprons
• Scrub suits
• Disposable coveralls or shirts and pants
• Others

By Region:

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

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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

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

According to forecasts, the currency counting machines market is expected to be US$ 231.4 million in 2023 and US$ 373.4 million by 2033.

The currency counting machines sector is expanding mostly due to the rise in the use of counterfeit money, while other reasons, like the rise in card transactions, might restrain this expansion. The rising usage of multi-currency forex cards will likely impact the market expansion.

Prepaid cards called “forex cards” can be filled with several currencies. These cards replace travel currency cards that only support one currency. Manufacturers are developing innovative methods to enhance the detection of fake money. This is accomplished using optical inspection and image processing technologies to provide an improved, intelligent, dependable cash sorter that recognizes bogus currencies.

Increasing demand for sophisticated money-counting devices is being driven by increased awareness of the value of counterfeit detection and security measures. Increase in businesses that handle cash often, such as casinos, supermarkets, and hotels, where accuracy and efficiency in processing cash are essential.

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Key Takeaways

• By 2033, the currency counting machines market in the United Kingdom is likely to expand, with a CAGR of 2%.
• In 2023, the United States is expected to develop the currency counting machines business with a share of 4%.
• The currency counting machines market grew considerably to US$ 9,220.5 million in 2022.
• The currency counting machines sector developed at a CAGR of 7% between 2018 and 2022.
• By 2033, China’s currency counting machines market is projected to develop with a CAGR of 7%.
• By 2033, India’s currency counting machines industry is projected to expand with a CAGR of 3%.
• Japan’s currency counting machines industry is likely to grow significantly, with a 0% share in 2023.
• Australia’s currency counting machines are expected to develop with a share of 1% in 2023.
• Germany’s currency counting machines business is expected to grow, with a share of 6% in 2023.
• In 2023, based on the type, the loose note segment is expected to dominate the market, with a share of 44%.
• In 2023, a BFSI segment is expected to dominate the market, with a share of 36%, based on application.

Competitors’ Successful Techniques

Pricing competition was a key element in the market. Businesses that provided quality cash-counting machines at a reasonable price acquired a sizable client base. Several companies concentrated on providing specialized cash-counting equipment designed to meet certain industrial demands. They could serve specific markets and achieve a competitive advantage because of this strategy.

Top 10 Key Players of Currency Counting Machines Market

• Web Sec Systems
• Cannon Electronic Systems
• Prompt Automation
• Giesecke & Devrient GmbH
• Cummins Allison Corp.
• De La Rue plc
• Bcash
• Electronics Co.
• Glory Global Solutions Limited
• GRGBanking

Recent Development:

• A cash counting machine with a capacity of 200 notes, an intelligent currency counter cum detector, and a loose note counting machine are all available from the firm Maxsell. In.
• Through its subsidiaries, Glory Global Solutions (International) Ltd. and Glory Global Solutions (Holdings) Ltd., announced the purchase of Grupo Sortek S.A. de C.V. in May 2019. In Mexico, Sortek offers services for sorting cash.

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Key Segments Profiled in the Currency Counting Machines Market Survey:

By Type:

• Loose Note
• Bundle Note
• Desktop Model

By Range:

• Basic Note Counter
• Hi-Speed Heavy Duty Cash Counting
• Intelligent Counting cum Counterfeit Detection Machines

By Application:

• BFSI
• Business Houses
• Hospitals
• Schools & Colleges
• Airports
• Jewelers
• Retail Outlets & Showroom
• Hotels & Restaurants

By Region:

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

About Future Market Insights (FMI)

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

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Future Market Insights, a leading ESCOMAR certified market research and consulting firm, has published a comprehensive report on the global rescue hoist system market. According to the report, the market is set to experience a steady growth trajectory, with an average Compound Annual Growth Rate (CAGR) of 3.8% between 2023 and 2033. The market is expected to attain a significant market share of US$ 845 million by 2033, compared to its projected value of US$ 581.9 million in 2023.

Growing Demand for Rescue Hoist Systems in Emergency and Disaster Situations

Rescue hoist systems have gained prominence as vital equipment in emergency and disaster rescue missions worldwide. Their versatile applications make them indispensable for defense operations, utility operators, homeland security agencies, coast guards, training schools, and aerial crane service providers, particularly on helicopters. A substantial portion of these hoist systems is deployed in combat helicopters, indicating their critical role in safeguarding lives and ensuring effective rescue operations.

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Expanding Opportunities in the South Asia & Pacific Region

The South Asia & Pacific region is emerging as a significant contributor to the global rescue hoist system market growth. The region’s rising defense expenditures driven by security concerns and geopolitical tensions are expected to create new avenues for market players. Future Market Insights predicts that the South Asia & Pacific rescue hoist system market will experience a robust CAGR of 5.1% throughout the forecast period (2023-2033). This growth can be attributed to the region’s increasing demand for advanced rescue equipment.

Rising Popularity of Helicopter Emergency Medical Services (HEMS)

The application of rescue hoists extends beyond military use to encompass a broad range of sectors, including private and medical services. The market is witnessing substantial growth due to the heightened adoption of hoists in applications such as search and rescue missions and helicopter emergency medical services. These hoists play a pivotal role in transporting patients, equipment, and personnel during emergencies, further bolstering their demand.

Dominance of 0.15 to 0.5 Tons Capacity Segment

In terms of capacity, the report highlights that the 0.15 to 0.5 tons segment will continue to dominate the rescue hoist system market during the forecast period. This segment accounted for over 66.2% of the market share in 2022, according to Future Market Insights. The popularity of this capacity range among defense entities, utility operations, and emergency services is expected to drive its sustained growth.

Competitive Landscape and Innovations

Market leaders such as Collins Aerospace, Breeze-Eastern, and VINCORION are strategically focusing on upgrading their rescue hoist systems in compliance with evolving regulations. Additionally, certain companies are forming strong partnerships with key military forces to secure long-term supply contracts.

For example, VINCORION, a prominent rescue hoist manufacturer, secured a substantial contract in July 2021 for the supply of 100 hydraulic rescue hoist systems for military transport helicopters. Valued at approximately 11.5 million Euros, this contract extends until 2028, with deliveries slated to begin in Q3 2021. Lifesaving Systems has also made strides in the industry by introducing the 414 D-LOK helicopter hoist hook with enhanced features for improved one-handed operation.

Key Players:

• Air Rescue Systems.
• Breeze-Eastern
• Collins Aerospace
• Lifesaving Systems
• Standcore
• Survival Systems Limited
• VICTORIAN
• Zephyr International

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Key Segments Covered

By Drive Mechanism:

• Electric
• Hydraulic

By Type:

• Chain
• Cable

By Sales Channel:

• First Fit
• Retro Fit

By Capacity:

• Up to 0.15 tons
• 15 to 0.5 tons
• 5 to 1 tons
• More than 1 tons

By End User:

• Defense
• Utility Operations
• Homeland Security
• Emergency Services
• 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
LinkedIn| Twitter| Blogs | YouTube
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The global wire rope sling market size was worth US$ 2.5 Billion in the year 2022 and is expected to reach US$ 3.9 Billion by the year 2032 at a CAGR of 4.55% between 2022 and 2032.

Wire rope sling comes across as a kind of portion of rigging hardware used in hoisting and lifting activities. It is, in fact, used in several sectors and also aids in attaching the lifting device to the load. Integration with IoT is also possible. Heavy duty jobs like load anchoring, carrying load, loading, and towing could be easily carried out through wire rope sling. The rope assemblies are generally made from steel wire ropes having terminations toward the end.

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Another advantage on the part of wire rope slings is that they have a longer life-span and do not get adversely affected through dirty or sticky conditions.

Wire rope comprises multiple strands of wire braided and twisted together for forming a helix or spiral design. One wires separately shaped into solid form, they turn out to be a single wire with much greater strength as the individual wires tend to equalize pressure and do render greater flexibility as compared to individual strands.

The wire ropes’ strength could be further enhanced by grouping and winding together for producing cables; which does add to utility as a means of supporting, lifting, and imparting structural stability.

The factor to ponder about regarding wire rope sling is ‘lay of strands’. These could be lang or regular. With right, regular, or right lay, strands get wound to right from left with wires laid in strands’ opposite direction. On the other hand, with lang lay, wires get wound in same direction.

The design and structure of the wire rope does result in an ultimate product having excellent strength flexibility, superlative strength, and ability of handling continuous bending stress along with being resistant to weather.

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Wire rope could be found in the form of a tow cable for airplanes and boats or even in the film industry as harness for the stunt artists. Thus, every application asking for flexibility, endurance, and strength has wire rope slings.

In aerospace vertical, wire ropes/Bowden cables, do connect levers and pedals in airplane cockpit for sending power to the aircraft systems for exercising control over airplane. Thus, things controlled through wire ropes include cowl flaps, propeller pitch, and throttle. It needs to be noted that wire ropes on the aircraft are provided in insulated form for averting vibrations. In automobiles, the uses include cables, steering, springs, exhausts, doors, sunroofs, and seat components. In construction vertical, wire ropes could be used to support concrete columns and suspension bridges. In oil & gas industry, they are used for drilling operations. In food processing industry, they are used for moving raw materials or products to processing centers and storage units.

Future Market Insights has walked through these facts with future perspectives in its latest market study entitled ‘Wire Rope Sling Market’ with its team of analysts and consultants going for bottom-up approach in their primary, secondary, and tertiary modes of research.

“With growing awareness about the facts that wire rope slings are resistant to UV, fire, humidity, and toxic chemicals, the global wire rope sling market is slated to grow at an atrocious rate going forward.

Key Takeaways from Wire Rope Sling Market

• The Asia-Pacific holds the largest market share due to extensive research conducted on this count. The scenario is expected to remain the same even going forward.
• North America and Europe are at the matured stage of wire rope sling market and the status quo is expected to remain the same even in the forecast period.

Competitive Analysis

• Midco Sling is known for manufacturing and distributing wire rope across various customers across the Southern States.
• Gunnebo Industries provides wire rope slings – Wheelbarrow sling, 3-legged, with sling hooks (EKN), wire rope sling 1-legged, wire rope sling 1-legged with eye + safety hook, and likewise.
• HHI Lifting does supply wire rope slings catering to industrial lifting requirements with cutting-edge testing services.

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Key Segments Profiled in the Wire Rope Sling Industry Survey

Design:

• Eye & Eye Slings
• Bridle Slings
• Nine-Part Slings

End-User:

• Offshore Service Equipment
• Installation of Oilfield Drilling
• Subsea Lifting Application
• Construction & Industrial Lifting

Sales Channel:

• Direct Sales
• Distributor

Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• APEJ
• Japan
• Middle East & Africa

What does the Report rope in?

• The research study is based on design (eye & eye slings, bridle slings, and nine-part slings), by end-user (offshore service equipment, installation of oilfield drillings, subsea lifting application, and construction & industrial lifting), and by sales channel (direct sales and distributor).
• With acceleration of marine vertical, the global wire rope sling market is bound to grow well in the near future.

About Future Market Insights (FMI) 

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

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T: +1-845-579-5705
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The global automotive exterior trim parts market size in 2022 was US$ 21.03 billion and is estimated to be US$ 42.5 billion in 2023. According to Future Market Insight, the automotive exterior trim parts market is estimated to expand at a CAGR of 4.0% between 2023 and 2033, totaling around US$ 62.9 billion by 2033.

The rise in the trend of vehicle customization and personalization thus driving the demand for high-quality and articulated appealing automotive trim parts. Moreover, consumers search for different ways to make sure that their vehicles stand out, and customized trim parts are an easy and affordable way to achieve this market growth.

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The addition of many new and advanced features in automotive trim parts provides comfort with a decrease in the overall weight of the vehicle through the usage of fiberglass components. These components are anticipated to attract automobile companies and thus push the market’s demand and sales of automotive exterior trim parts in an upward direction.

Key Takeaways from the Market Study

• Sales of automotive exterior trim parts are said to account for a 27% share of global automotive exterior trim parts market revenue.
• Anticipated value of the global automotive exterior trim parts market expanded at a CAGR of 3.2% between 2018 and 2022.
• Automotive exterior trim parts industry in North America holds a market share of 48.6%.
• Global industrial landscape for Europe occupies a significant share of 25.2%.
• Asia Pacific is expected to have a dominant market share of 34% during the forecast period.
• Based on product type, demand for bumper products is estimated to be with a market share of 62.7%.
• Based on the vehicle type segment, commercial vehicles are set to retain their dominating positions in the automotive exterior trim parts market with a market share of 44.8%.

Increasing disposable income to significantly influence market potential is considered one of the key drivers of the automotive exterior trim parts market – comments Future Market Insights analyst.

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Competition Landscape

The automotive exterior trim parts industry consists of consequential market players. Further, research and development for the introduction of environment-friendly product lines form the core aspect of these manufacturers. In addition to that, other expansion strategies, inclusive of collaborations, mergers and acquisitions, and exploration of regulatory approvals, are also relied upon.

Some of the prominent players profiled in the global market are-

1. AISIN Group
2. CIE Automotive
3. DURA Automotive Systems
4. Ficosa Internacional SA
5. GEDIA Automotive Group
6. GRONBACH
7. Hayashi Telempu Corporation
8. IDEAL Automotive
9. KASAI KOGYO Co. Ltd.
10. KKIRCHHOFF Automotive
11. Knauf Industries
12. NOVARES
13. NVH Korea
14. Samvardhana Motherson Group
15. TOYOTA BOSHOKU Corporation
16. Plastic Omnium

Key Developments of the Leading Players in the Automotive Exterior Trim Parts Market

• In April 2023, Dura Automotive Systems, one of the dominant manufacturing employers in Tennessee’s Bledsoe County, announced that it is going to soon shut down its plant there in the month of June and will lay off the 80 workers left from a workforce that was 500 strong four years ago.
• In April 2023, Ficosa, considered to be a leading global company, is mainly committed to research, development, production, etc., thus, plans to sell more than 7 million cameras over the course of 2023. Ficosa’s vision portfolio includes in-vehicle and out-of-vehicle cameras to drive solutions for improved safety and comfort in mobility.

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Key Segments of Automotive Exterior Trim Parts Industry Survey

The Automotive Exterior Trim Parts Market by Product:

• Front Bumpers
• Rear Bumpers
• Outside Rear View Mirrors (ORVM)
• Rocker Panels (Under Panels)
• Radiator Grills
• Wheel Arch Claddings (Fender Liners)
• Outside Door Handles
• Exterior Car Door Trims
• Mud Guards
• Exterior Trim Parts

The Automotive Exterior Trim Parts Market by Vehicle Type:

• Passenger Cars

• Compact
• Mid-size
• Luxury
• Sedan
• SUV

• Commercial Vehicles
• Heavy Trucks & Buses

The Automotive Exterior Trim Parts Market by Sales Channel:

• First Fit
• Replacement

The Automotive Exterior Trim Parts Market by Region:

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

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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As per the latest market research conducted by FMI, the global automotive coolant aftermarket size is expected to record a CAGR of 4% from 2023 to 2033. In 2023, the market size is projected to reach a valuation of US$ 894.82 million. By 2033, the valuation is anticipated to reach US$ 1324.55 million.

Key Takeaways:

• The automotive coolant aftermarket is anticipated to reach a valuation of US$ 894.82 million in 2023.
• The expanding domestic coolant production can certainly assist coolant manufacturers in meeting the rising coolant demand worldwide. Over the following few years, this is anticipated to fuel the automotive coolant aftermarket.
• The automotive coolant aftermarket is predicted to record a CAGR of 4% through 2033.
• The automotive coolant aftermarket is expected to surpass US$ 55 million by 2033.

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The efficient combination of ethylene, propylene glycol, and ethylene is predicted to boost the use of automotive coolants, which is likely to have an impact on the market. Also, the industry is growing due to the capacity to clean pollutants out of engine cooling systems. The growth of the automobile industry, the surge in investments, and the rise in disposable income all benefit the automotive coolants aftermarket.

Manufacturers introduce innovative brands and products to provide customers with customized coolant and lubricant solutions. Several global OEMs are making investments in the nation either through joint ventures with well-established companies or directly after FDI norms have been implemented in setting up their production unit or improving their sales and dealership networks around the nation.

For example, ExxonMobil revealed its finalized company goals in December 2021. These plans call for boosting its spending on programs to reduce greenhouse gas emissions by US$ 15 billion over the following six years while maintaining controlled capital investments in its industry-leading portfolio.

Noble Midstream became an indirect, wholly-owned subsidiary of Chevron when the previously announced acquisition was finalized, it was revealed in May 2021 by Chevron Corporation and Noble Midstream Partners LP.

Also, the passenger vehicle market is being driven by strong demand for e-class, crossovers, SUVs, and hatchbacks, which is likely to have a positive impact on the automotive coolant aftermarket. The market for passenger vehicles is being driven by consumers’ rising preference for private transportation and their increasing purchasing power.

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Significant Challenges:

• As part of their maintenance plans for vehicles, original equipment manufacturers (OEMs) are increasingly providing coolant products and services. This might lower aftermarket demand for third-party coolant products and services.
• Financial distress and economic downturns can have an effect on vehicle maintenance and sales, which may therefore have an effect on the demand for coolant products and services.

Competitive Background:

The manufacturers are investing in research and development, and are introducing innovative methods to boost production capacity. Product development and market expansion are significant aspects of the automotive coolant aftermarket As a result, market participants are likely to have a better overall revenue share in the global automotive coolant aftermarket.

Automotive Coolant Aftermarket – Key Segments

Product Type:

• Organic
• Inorganic
• Hybrid

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Vehicle Type:

• On-Road Vehicles
  • Passenger Cars
  • Commercial Vehicles
  • Motorcycles & Scooters
• Off Road Vehicles
  • Tractors
  • Construction Based Vehicles (Loaders, Excavators, Bulldozers, Road Rollers, Mobile Cranes)
  • Industrial Vehicles (Towing Tractors, Fork Lift Trucks, UTV Carriers)

Sales Channel:

• Vehicle Service Stations
• Independent Garages
• Authorized Dealers/ Franchise
• Multi-brand Dealers
• Online Sales

Region:

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

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
LinkedIn| Twitter| Blogs | YouTube