Residual Current Circuit Breakers Market is expected to reach US$ 3,411.6 Mn, growing at a 6.7% CAGR

At a CAGR of 6.7 percent, the global Residual Current Circuit Breakers Market is anticipated to reach US$ 3,411.6 million by 2028. In 2022, the industry is anticipated to be worth US$ 2,305,9 million.

The global market for residual current circuit breakers expanded at a CAGR of 6.5 percent between 2017 and 2021, according to the most recent research from FMI. In 2017, the market had a value of US$ 1,683.1 million. The historical period’s growth can be primarily attributed to an increase in building maintenance activities to replace deteriorating electrical infrastructure.

Demand for residual current circuit breakers has decreased significantly since the implementation of COVID-19, particularly in the first two quarters. Several activities were halted as a result of the imposition of strict lockdowns.

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Key Findings from the Competitive Landscape Analysis of Residual Current Circuit Breaker Market

  • Leading RCCB manufacturers are prioritizing the development of customer-specific product development, emphasizing superior performance, high operational efficiency, and regional expansion.
  • Partnerships and joint ventures through strategic collaborations with recognized research institutes is paving the way for product innovation.
  • Targeting expansion of existing product offerings, key players in residual current circuit breaker landscape are indulging inconsistent new product innovation cycles, in addition to strategic mergers and acquisitions (The latest example in this category is of the acquisition of GE Industrial Solution by ABB).
  • Industry leaders are focusing on maintaining long-term contractual relationships with manufacturing giants for a reliable supply scenario of a wide range of residual current circuit breaker devices.

 “Towards the end of 2020, the global revenue of residual current circuit breaker landscape is likely to cross the US$ 2 billion mark, witnessing over 6% year on year growth each year post-2020,” explains a senior analyst at FMI. Elaborating further on the key impact factors shaping the revenue growth of residual current circuit breaker market, the analyst says, “Increasing adoption of smart grid, constant replacement of ageing power infrastructure, the rampant expansion of the residential construction sector, and growing digitization are primarily drawn as high-impact push factors associated with RCCB demand”.

The analysis of the residual current circuit breaker landscape according to end-use concludes dominance of the residential construction sector in the market. With an estimated 7+% year over year revenue growth over the next couple of years, residential infrastructure will continue to attract maximum opportunities over commercial and industrial sectors in the residential current circuit breaker market. This growth can be clearly correlated to heavy population growth, subsequently fueling the residential housing demand.

In the power input-wise analysis of residual current circuit breaker landscape, the report discusses solid incremental opportunity for three phase residual current circuit breaker that strongly attributes to an exceptionally high rate of solar PV and energy storage system sales over the recent past.

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Power Investments Elevate in Asian Economies, Imposing Solid Growth Opportunities for Residual Current Circuit Breaker Manufacturers

FMI’s regional market analysis of residual current circuit breaker landscape reveals dominance of North America and Western Europe, the latter is however witnessing a major revenue decline in recent years. The criticality of the efficient eco-smart end-use and an ever-growing concern of human safety from electrocution continue to boost the mature residual current circuit breaker landscape of developed regions.

Being among the most populous economies across the globe, China and India reinforce solid growth prospects for residual current circuit breaker sales growth. While China is projected for a heavy gain in terms of market value share, MEA is also poised to observe promising expansion at over 6.5% yearly growth post 2019 – owing to augmenting power investments.

The breakthrough One Belt-One Road Project that connects China and all the other Central Asian economies, European countries, and Indo-Pacific littoral countries raise a substantial need for new roads, railway tracks, ports, and power grids. The onset of this project is expected to contribute substantially to the revenue growth of the residual current circuit breaker landscape.

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Key Segments Covered in Residual Current Circuit Breaker Industry Analysis

Residual Current Circuit Breaker by Product Type:

  • AC
  • A
  • F
  • B
  • B+

Residual Current Circuit Breaker by Network Type:

  • 2 Pole
  • 3 Pole
  • 4 Pole

Residual Current Circuit Breaker by Power Input:

  • Single Phase Residual Current Circuit Breaker
  • Three Phase Residual Current Circuit Breaker

Residual Current Circuit Breaker End Use:

  • Residual Current Circuit Breaker for Residential
  • Residual Current Circuit Breaker for Commercial
  • Residual Current Circuit Breaker for Industrial

Residual Current Circuit Breaker by Region:

  • North America Residual Current Circuit Breaker Market
  • Latin America Residual Current Circuit Breaker Market
  • Western Europe Residual Current Circuit Breaker Market
  • Eastern Europe Residual Current Circuit Breaker Market
  • Southeast Asia & Pacific Residual Current Circuit Breaker Market
  • China Residual Current Circuit Breaker Market
  • Japan Residual Current Circuit Breaker Market
  • India Residual Current Circuit Breaker Market
  • Middle East & Africa Residual Current Circuit Breaker Market

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Bridge Expansion Joints Market is expected to register a CAGR of 5.5% during the forecast by 2031

Future Market Insights (FMI) forecasts that the bridge expansion joints sales will accelerate at 1.5x in the next ten years, reaching the market valuation of aroundUS$1500 Million by the end of 2031. 

Implementation of bridge preservation partnership programs between original equipment manufacturers (OEMs) and end-users will drive the market, yielding a year-on-year (YoY) growth rate of 3% in 2021.

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China leads the global bridge expansion joints market as a result of growing investments in transportation and infrastructure development. The market in China is anticipated to hold nearly one-fifth of the value share in the global market during the forecast period.

The estimated value of the bridge expansion joints market in 2021 is US$ 990.8 Million and the market is expected to expand at a CAGR of 5.5% during the forecast period from2021 to 2031.

Global Bridge Expansion Joints Market Forecast

Market insights suggest that the overall size of the global bridge expansion joints market will expand over the forecast period. Several positive changes are expected to fuel the growth of the global bridge expansion joints market.

By region, China is projected to dominate the global bridge expansion joints market over the forecast period. China, followed by Western Europe, is estimated to remain the most opportunistic region in the bridge expansion joints market. In terms of value, China is projected to create an incremental $ opportunity worth US$ 130.9 Mn in the global bridge expansion joints market during the forecast period. The Middle East & Africa (MEA), followed by Latin America, are projected to grow at a significant CAGR over the forecast period in the global bridge expansion joints market.

By type, the closed type expansion joints segment is projected to dominate with a value of US$ 371.9 Mn in 2021. However, the open joints segment is projected to account for more than 40% share in the global bridge expansion joints market during the forecast period. In terms of growth, open type bridge expansion joint segment is projected to grow with a modest growth rate during the latter half of the forecast period.

By application, the roadway bridges segment is projected to dominate the global bridge expansion joints market. In terms of volume, the demand from the roadway bridges segment is projected to be pegged at 12,604 ‘000 meters by the end of 2031. In terms of value, the railway bridges segment is projected to create an incremental $ opportunity worth US$ 118.8 Mn in the global bridge expansion joints market over the forecast period. Under the application segment, the roadway bridges sub-segment is expected to grow with a remarkable growth rate in the global bridge expansion joints market owing to increasing roadway networks in developing regions.

Competitive Landscape

Some of the key players involved in the manufacturing of bridge expansion joints and included in this study are Trelleborg AB, Canam Group Inc., Ekspan Ltd., Freyssinet Limited, Granor Rubber & Engineering Pty. Limited, Gumba GmbH & Co. KG, KantaFlex (India) Private Limited, Mageba SA, Metal Engineering & Treatment Co. Pvt. Ltd., ZaoqiangDacheng Rubber Co., Ltd., RJ Watson, Inc., TensacciaiS.r.l., Maurer SE and Watson Bowman Acme Corp.

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Global Bridge Expansion Joints Market Dynamics

Increasing investments for infrastructural development across the globe will act as a catalyst for the overall growth of the bridge expansion joints market during the forecast period. Moreover, increasing construction activities in developing regions, such as SEA & pacific, are estimated to fuel the growth of the bridge expansion joints market over the forecast period.

On the flip side, one of the key challenges faced by the manufacturers of bridge expansion joints is that the upper layer of steel expansion joints corrodes when exposed to salts or de-icing salts. This is anticipated to be the primary factor hampering the growth of the bridge expansion joints market over the forecast period. Moreover, bridge expansion joints require high logistics costs due to their heaviness, which is another factor anticipated to act as a restraining factor for the growth of the bridge expansion joints market in near future.

Growth in Transportation Infrastructure Spending Driving Bridge Expansion Joints Demand

Transport infrastructure spending is projected to grow expressively in the coming years, owing to the increasing population and increase in the demand for local commute. MEA (Middle East and Africa) is estimated to witness a significant growth rate in terms of transport infrastructure in the coming years.

Moreover, Asia Pacific remains the largest market in terms of transportation infrastructure with increasing investments towards the development of transport infrastructure in the region.

Growing transportation infrastructure spending across the developed and developing economics surges the demand of bridge expansion joints over the forecast period.

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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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Refrigeration and Air Conditioning Compressors Market will see a 2.7% CAGR in sales growth, with a valuation of US$ 41.2 billion by 2029

A global industry analysis from 2014 to 2021 and a 2022 to 2029 opportunity assessment are included in the study of the Refrigeration and Air Conditioning Compressors Market. The market for refrigeration and air conditioning compressors is examined in the report, which also offers crucial predictions for the years 2022 to 2029.

According to the report’s findings, the expansion of retail stores around the world is just one of the many factors that will propel the global market for refrigeration and air conditioning compressors to significant growth during the forecast period.

The global refrigeration and air conditioning compressors market value at US$ 34.2 Bn in 2022, and is estimated to increase at a CAGR of 2.7%,reaching a valuation ofUS$ 41.2 Bnby 2029.This growth is majorly driven by the increasing consumption of refrigeration and air conditioning compressors in residential applications, commercial applications, and industrial applications.

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Government regulations are expected to play an imperative role in defining the product development and innovation strategies of market players involved in the refrigeration and air conditioning compressor market. In addition, the phase-down of R22 has compelled manufacturers to increase the adoption of R410A, R407C, and R404A, according to the FMI analyst.

East Asia to Offer Lucrative Opportunities

Europe and North America regions are projected to hold significant shares in the global refrigeration and air conditioning compressors market. However, the East Asia market is anticipated to project rewarding growth in the global refrigeration and air conditioning compressors market over the forecast period of 2022-2029.

This is driven by the rapid growth of the food & beverages industry coupled with the rising number of cold supply chain facilities and warehouses in the countries of East Asia such as China and South Korea.

Additionally, macroeconomic factors such as urbanization, growing population, increasing purchasing power of the middle-class population, and rising standard of living are some of the other factors that are boosting the growth of the refrigeration and air conditioning compressors market.

Leading Companies Profiled in Refrigeration and Air Conditioning Compressors Market are:

  • Emerson Electric Co.
  • Danfoss Group
  • Huayi Compressor Co., Ltd.
  • Mitsubishi Electric Corporation
  • Nidec Corporation
  • Midea Group
  • Panasonic Corporation
  • LG Electronics, Inc.
  • United Technologies Corporation
  • MAYEKAWA MFG. CO., LTD.
  • GEA Group AG
  • Daikin Industries Ltd.
  • CAREL Industries S.p.A

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Residential Industry to Remain, Key Consumer of Refrigeration and Air Conditioning Compressors,

The global refrigeration and air conditioning compressors market has been segmented based on cooling capacities, types of compressors, their multiple applications, refrigerants, end-use, and regions such as North America, Europe, Latin America, and East Asia, South Asia, Oceania, and the Middle East and Africa.

  • By product, the rotary vane type of the refrigeration and air conditioning compressor segment is estimated to hold significant value shares of the global refrigeration and air conditioning compressors market.
  • Based on cooling capacity, the less than 5 kW segment is projected to consume the majority share of the global automotive lighting market value. However, the 30 to 100 kW segment is estimated to project rapid growth in the global refrigeration and air conditioning compressor market.
  • By application, the residential segment is estimated to hold a significant value share of the global refrigeration and air conditioning compressors market. This segment is likely to be prominent in the global refrigeration and air conditioning compressors market across all regions. However, the commercial segment is anticipated to grow at a high CAGR during the forecast period. Transportation and medical & healthcare applications are also growing at a moderate CAGR during the forecast period.

Key Segment Refrigeration and Air Conditioning Compressors Market by Category

Cooling Capacity:

  • Less than 5 kW
  • 5 to 30 kW
  • 30 to 100 kW
  • 100 to 300 kW
  • 300 to 500 kW
  • 500 to 1000 kW
  • Above 1000 kW

Product Type:

  • Rotary Vane
  • Scroll
  • Reciprocating
  • Screw
  • Centrifugal

Refrigerant Type:

  • R410A
  • R407C
  • R404A
  • R134A
  • R290
  • R744
  • Others

Application:

  • Residential
  • Commercial
  • Medical & Healthcare
  • Industrial
  • Transportation

End-Use:

  • Refrigeration
  • Air Conditioning

Region:

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

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Refrigeration and Air Conditioning Compressors Market: Vendor Insights

The report indicates some of the prominent market players, who are recognized as leaders in the global refrigeration and air conditioning compressors market. Some of the key players in the global refrigeration and air conditioning compressors market are Emerson Electric Co., Danfoss Group, Huayi Compressor Co., Ltd., Mitsubishi Electric Corporation, Nidec Corporation, Midea Group, Panasonic Corporation, LG Electronics, Inc., United Technologies Corporation, MAYEKAWA MFG. CO., LTD., GEA Group AG, Daikin Industries Ltd., and CAREL Industries S.p.A., among others.

The global refrigeration and air conditioning compressors market is considerably consolidated with some players holding prominent shares of the market. These players are offering refrigeration and air conditioning compressors under their several brands.

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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Dewatering Pump Market expand from 2023 to 2033 at a CAGR of 5.2%, it would be valued at US$12,213.6 million by 2033

Over the assessment period of 2023 to 2033, the Global Dewatering Pump Market is anticipated to prosper with a CAGR of impressive 5.2%. The market is anticipated to surpass a valuation of US$ 12,213.6 million by 2033 and reach US$ 7,356.8 million in 2023. Future Market Insights’ historical analysis shows that between 2018 and 2022, the global dewatering pump market experienced flourishing sales at a CAGR of 3.9%. In 2022, the market’s valuation surpassed US$ 6,981.0 million. The historical period’s growth was attributed to the worldwide boom in construction.

Several industries, particularly those in the oil and gas, power, and chemical sectors, are investing in the renovation of their facilities. Increased construction activity in the infrastructure sector has led to a rapid expansion of the dewatering pump market. Additionally, the mining industry’s growing need for resources would increase sales. In developing and underdeveloped nations, rising industrialization and rising urbanisation would promote growth. Sales of dewatering pumps would also increase if there was a greater emphasis on upgrading, replacing, and retrofitting ageing components.

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Dewatering pumps are known as vital pieces of equipment for numerous industries. It is commonly used to transfer fluid from one place to another. Therefore, it would find usage in mining & metal, civil infrastructure & construction, and chemical power generation. Dewatering pumps are anticipated to gain immense traction over the next decade as a means of removing water. It can remove water that has accumulated in foundations or ditches. These ditches and foundations are excavated.

Report Highlights

Surging urban development projects are anticipated to bode well for the global market. Population growth, urbanization, and industrialization have given rise to the construction sector. It would fuel the market for dewatering pumps. Numerous industries comprising food & beverage, and power generation among others utilize these pumps. They are extremely efficient and have an excellent wear-resistant capacity.

Dewatering pumps have long service lives and they require little maintenance. In addition to that, they also have a wide range of flow rates. It is removed from a caisson, mine shaft, or riverbed through evaporation or pumping.

Propelling focus on retrofitting, upgrades, and replacement of aging components would also drive dewatering pump sales. Rising demand for effective industrial infrastructure within developing regions is anticipated to bolster sales over the assessment period.

Recent Developments

Various end-use industries are using dewatering pumps excessively, therefore, bolstering the market growth. These pumps also find application in sewage plants, power plants, cement, and thermal plants to eliminate water. Surging demand for energy-efficient manufacturing operations in developed nations would increase expenditure on new pumping equipment.

Several industries particularly oil & gas and chemicals are rapidly undertaking refurbishment activities. They are actively working on refining their plants and pumping systems. In order to increase production efficiency, it is crucial to upgrade pumping systems.

Technological advancements and the rising adoption of the internet of things (IoT) are creating numerous opportunities for market expansion. Such advanced technologies allow for component remote diagnosis, proactive maintenance, and real-time monitoring.

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Competitive Landscape

Key manufacturers operating in the global dewatering pump market are focusing on strategic alliances to satisfy demand from a rising customer base. They are collaborating with neighborhood distributors and end users.

Owing to the presence of several companies, the dewatering pump industry is highly competitive. The market has strong alliances across the value chain. Key companies have a strong emphasis on innovations.

Atlas Copco introduced its new line of dewatering pumps in February 2023. Its E-Pumps are electric self-priming pumps. These are ideal for urban construction projects, mining, and sewage bypass. A few of their features include extended life, non-requirement of an oil change, and low energy consumption.

Key Companies Profiled are Xylem Inc., Atlas Copco AB, Ebara Corporation, Kubota Corporation, KSB SE & Co. KGaA, Grundfos, Sulzer Ltd, Wacker Neuson Group, Tsurumi Manufacturing Co, Ltd., Ruhrpumpen Group, WILO SE, The Weir Group Plc., Kirloskar Brothers Ltd., Grindex AB, Thomson Pump, SPP Pumps, ANDRITZ GROUP, Ingersoll-Rand PLC, Sumitomo Heavy Industries Ltd.

More Insights into the Dewatering Pump Market

The East Asia region is anticipated to dominate the global dewatering pump market over the evaluation period. In 2023, the China dewatering pump market would expand at 6.4% CAGR. Growth in the region is attributed to urbanization and rapid population growth is responsible for pushing dewatering pump demand. It would also elevate with ongoing rapid economic expansion in China.

The European region is expected to create lucrative growth opportunities as Germany is predicted to account for around 26.2% of the share in the forecast period. Germany is rapidly inclining toward a better living standard with a sustainable environment. Hence, the country spends highly on expanding its drinking water capacity. It would also spend huge sums on wastewater treatment.

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Dewatering Pump Market Outlook by Category

By Product Type:

  • Sludge Pumps
  • Slurry Pumps
  • Drainage Pumps
  • Hybrid Pumps

By Capacity:

  • 0.5 to 3 HP
  • 3 to 10 HP
  • 10 to 50 HP
  • Above 50 HP

By Technology:

  • Positive Displacement Type
  • Centrifugal Type

By End Use:

  • Civic Infrastructure Construction
  • Mining & Metals
  • Paper & Pulp
  • Chemicals
  • Power Generation
  • Food & Beverages
  • Municipal
  • Others

By Region:

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

About Future Market Insights (FMI)

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

Contact Us :

Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
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T: +1-845-579-5705
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Scissor Lifts Market is expected to grow at 3.5% CAGR through 2031

Through 2031, the Global Scissor Lifts Market will expand at a 3.5% CAGR. Aerial work platforms, which include access equipment like scissor lifts, are used for elevated material handling that is both safe and effective across a variety of industries.

With the transition from the mature and saturated markets, such as North America and Western Europe, to the emerging economies, such as China, ASEAN, and various South East Asia & Pacific countries, the global market for scissor lifts is undergoing a significant transformation. The booming construction industry across developing countries is a significant factor assisting this expansion.

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In its new study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights into key factors fuelling the demand for scissor lifts. The report tracks the global sales of scissor lifts in 20+ high-growth markets, along with analyzing the impact COVID-19 has had on the end-use industry in general, and scissor lifts in particular.

Surging construction activities will boost sales of scissor lifts. In a new study Future Market Insights (FMI) has projected the global market for scissor lifts to reach a market value of ~US$ 4.5 Bn by 2031.

With rental companies playing a pivotal role in the scissor lifts market, organizations in the rental industry are expected to focus on expanding their network across developing countries, creating new growth prospects for manufacturers.

While the growth projections for the scissor lifts market remain strong, the ongoing COVID-19 pandemic crisis is anticipated to cause a minor strain in demand. Disruptions witnessed in manufacturing units and supply chain networks due to shutdowns in several countries are expected to affect the consumption of Scissor Lifts. However, the market is expected to recover in the year 2021.

The market will especially gain from the rising demand from AWP rental service providers. FMI has projected the segment to account for over 80% of the demand recorded in the market through the forecast period. Also increasing application in manufacturing, construction, commercial, and other sectors will continue aiding growth.

Key Takeaways from Scissor Lifts Market Study

The Scissor lift market will expand at a steady pace, exhibiting a 3.5% CAGR between 2021 and 2031 The U.S. is expected to account for over40% of sales of scissor lifts U.K. will remain a key market in Western Europe Germany and France will continue exhibiting high demand backed by rising construction activities Sales in Japan and South Korea to increase at a positive pace

“In addition to keeping long-term alliances with their key buyers, companies are offering training courses for operators and focusing on expanding their product range by including electric, hybrid or bi-energy scissor lifts to cater for the growing demand for aerial work platforms across the world,” said a lead FMI analyst

What’s the Future Outlook?

The growing shift towards hybrid lift development which helps rental fleet owners leverage the flexibility of scissor lift performance for higher utilization and longer-term rentals are set to remain a prominent force in shaping the scissor lifts market.

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Who is winning?

Some of the leading companies operating in the scissor lifts market are

Terex Corporation (Genie), JLG Industries, Inc., Linamar Corporation (Skyjack), Snorkel International, Haulotte Group, and Zhejiang Dingli Machinery Co, Ltd.

These companies are incorporating new environmental-conscious technologies. Along with this, they are fine-tuning their expansion strategies to gain a competitive edge.

For instance, Haulotte announced launching two new mobile elevating work platforms that have the fully electric architecture to offer excellent performance, while reinforcing the direction taken by the company towards environmentally friendly alternative energies.

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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Gas Circuit Breaker Market is expected to grow at a CAGR of nearly 3.9% over the forecast period by 2031

The expertly crafted Gas Circuit Breaker Market report from Future Market Insights reveals a number of global market characteristics as well as important trends and advancements. Numerous factors, including opportunities, drivers, and trends, are revealed in the research report “Gas Circuit Breaker Market: Global Industry Analysis and Opportunity Assessment (2021 to 2031)” that have influenced the market’s expansion as a whole.

Additionally, this research report has included future market projections that show the direction the global market will take in terms of growth rate and market valuation, taking into account all significant market segments that make up the global market. These projections have been included in addition to the current market situation and historical market data. This information has been evaluated across significant global regions to obtain an accurate market picture in the

 Global Gas Circuit Breaker Market: Dynamics Impacting Future Growth

Various aspects have contributed to the growth of the global gas circuit breaker market. Gas circuit breaker acts as an effective alternative compared to conventional methods like oil circuit breaker and fuse, increasing the use of gas circuit breaker for high voltage applications, rapid industrialization, and urbanization driving the need for the establishment of new transmission grids, increasing renewable energy projects and use of medium voltage circuit breakers, significant investment by the government in the power transmission and distribution sector coupled with rapid growth in these sectors, irregular flow of current in certain regions owing to poor infrastructure driving the need for protection of circuit through circuit breakers, and trend such as a focus on reduction of several interrupters, the evolution of hybrid gas breakers to reduce the environmental impact of SF6 and focus on low maintenance based circuit breakers have contributed to the growth of the global gas circuit breaker market.

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Increasing penetration of alternative technologies, such as vacuum circuit breakers, stringent regulations about the use of sodium hexafluoride gas is a major contributors to the greenhouse effect, reluctance to install new equipment and electrification projects, high cost associated with the use of SF6 gas circuit breakers, lack of standardised testing for ultra-high voltage gas circuit breakers and low replacement rate are hindering the growth of the global gas circuit breaker market.

Global Gas Circuit Breaker Market: Forecast Highlights

As per the research report on the global gas circuit breaker market, the global market is anticipated to grow at a CAGR of 4.6% throughout the forecast to reach a valuation of more than US$ 800 Mn by the end of 2027 from a value of about US$ 518 Mn in 2017.

Global Gas Circuit Breaker Market: Segmentation Snapshot

The global gas circuit breaker market is segmented based on voltage rating, configuration, technology, end-use and region.

  • By Voltage Rating, the above 800 kV segment is the largest segment with a high market share. However, the 252-550 kV segment is projected to grow at a high rate to register a value CAGR of 5.3% throughout the period forecast
  • By Configuration, the single interrupter segment is a high growth segment contributing largely to the growth of the global market. It is estimated to reach a value of more than US$ 530 Mn by the end of 2031
  • By Technology, the live tank type segment is highly lucrative with high growth potential. This segment is projected to grow at a high comparatively high CAGR and also reflect a high market valuation by the end of the period of assessment, thus leading the global market
  • By End Use, the industrial segment is expected to dominate the global market with a high market value. The commercial segment is poised to register a high-value CAGR of 5.2% throughout forecast
  • By Region, Asia Pacific excluding Japan (APEJ) is the largest with high market attractiveness. The gas circuit breaker market in the APEJ region is expected to grow at a high-value CAGR of 5.8% during the forecast period

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Global Gas Circuit Breaker Market: Competitive Analysis

The research study on the global gas circuit breaker market includes a detailed competitive assessment that includes key players such as ABB Group, General Electric, Toshiba Corporation, Hyosung Corporation, Siemens AG, Schneider Electric SE, Hitachi Ltd., Kirloskar Electric Company Ltd., CG Power and Industrial Solutions Limited, Fuji Electric Co., Ltd., HICO America, Nissin Electric Co., Ltd., Elimsan Switchgear Equipment & Electromechanical Industry And Trade Inc., New Northeast Electric Group High Voltage Switchgear Co., Ltd., Mitsubishi Electric Corporation, Koncar-Electronics and Informatics Inc., Hyundai Heavy Industries Co., Ltd., Siyuan Electric Co., Ltd., Stelmec Limited and ALSTOM SA.

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Synchronous Condenser Market is projected to grow at a strong CAGR of 8.2%, reaching a total valuation of US$ 1.76 Bn Between 2022 and 2029

The Synchronous Condenser Market, which includes opportunity assessment 2022 to 2029 and a global industry analysis 2014 to 2021. During the forecast period of 2022 to 2029, the report highlights significant insights and examines the synchronous condenser market.

According to the key findings, a number of factors, including the rise in HVDC projects in developing nations like China, India, and Indonesia, as well as the substitution of conventional generators and cooling facilities with synchronous condensers, are expected to propel the global synchronous condenser market to significant growth over the forecast period.

The global synchronous condenser market value at US$ 1.01 Billion in 2022, and is estimated to increase at a CAGR of 8.2% during the forecast period of 2022-2029. This growth is majorly driven by the integration of renewable energy through solar and wind power plants and increasing installation of synchronous condensers to carry robust functioning of the power plants.

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Rapid inclination towards wind and solar energy, in an attempt to reduce the dependency on fossil fuels has been generating significant demand for synchronous condensers in recent years. According to FMI analysis, manufacturers are setting their sights on countries, such as China which is making great strides to increase energy production from non-fossil fuel sources.

Newer Opportunities Identified in Middle East & Africa

Regions such as North America and Europe, are likely to hold prominent market shares in terms of value. However, the South Asia market is estimated to project lucrative growth in the global synchronous condenser market over the forecast period of 2022-2029. This growth in the region is propelled by the rapid technological advancements and growing number of HVDC projects in prominent countries such as India and Indonesia, among others.

Furthermore, the market of synchronous condensers is expected to grow predominantly in prominent countries of Middle East and Africa including Saudi Arabia, Kuwait, Qatar, Abu Dhabi, Nigeria, and U.A.E., owing to various macroeconomic factors such as growing urbanization, stable political & social backdrop, and rapid industrialization.

Increasing number of market players in the region have gained the confidence of foreign investors and grid operators to invest in the market. Moreover, refurbishment of synchronous condensers from old conventional plants and generators to new machines have added expressively positive momentum over the few past years.

Also, rapidly growing number of HVDC projects in MEA and installment of sustainable energy plants have boosted the demand for synchronous condensers to provide stability and robust functioning of power plants. These factors have resulted in significant growth of the synchronous condenser market in the region.

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Rising Number of HVDC and Related Substation Projects Creating New Opportunities for Synchronous Condenser Manufacturers

The global market of synchronous condensers has been segmented on the basis of different types of synchronous condensers, their multiple applications, and regions such as North America, Latin America, Europe, South Asia, East Asia, Oceania, Middle East and Africa.

  • By product, newly built synchronous condenser is likely to hold prominent value shares of the global synchronous condenser market. This has majorly resulted from the increasing adoption of synchronous condensers over conventional cooling gas plants and increasing installation of solar and wind farms in several countries.
  • On the basis of cooling, the water cooled segment is expected to consume majority share of the global synchronous condenser market value. This is driven by the increasing demand for water cooled synchronous condensers across several regions. Furthermore, it is expected that the application of synchronous condensers in power plants and other similar machines will grow prominently throughout the forecast period.
  • On the basis of power rating, synchronous condensers ranging from less than 50 MVAR and from 50 to 80 MVAR are expected to consume majority share of the global synchronous condenser market value. This is driven by the increasing construction of synchronous condensers under specified power ratings by key market players across several regions.

Synchronous Condenser Market: Vendor Insights

The report highlights some of the prominent market players, who have established themselves as leaders in the global synchronous condenser market. Some of the examples of key players in the global synchronous condenser market are ABB Ltd., General Electric, Siemens AG, Mitsubishi Electric Corporation, WEG, Eaton Corp. PLC, Voith GmbH, Ansaldo Energia, Toshiba Corporation, and Sustainable Power Systems Inc., among others.

The global synchronous condenser market is significantly consolidated with some players holding prominent shares of the market. These players are offering synchronous condensers under their business segments such as F.A.CT.S., and motors & generators, among others.

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Synchronous Condenser Market by Category

Product:

  • New synchronous condenser
  • Refurbished synchronous condenser

Cooling Type:

  • Air cooled
  • Hydrogen cooled
  • Water cooled

Power Rating:

  • Less than 50 MVAR
  • 50 to 80 MVAR
  • 80 to 100 MVAR
  • 100 to 150 MVAR
  • 150 to 200 MVAR
  • Above 200 MVAR

Starting Method:

  • Static frequency converter
  • Pony motors
  • Others

End Use:

  • Electrical power utilities
    • Electric grids
    • Solar farms
  • Mining
  • Commercial
  • Others

Region:

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

About Future Market Insights (FMI)

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

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Telehealth Software Market is Expected to Increase at US$ 14,200 Million by 2030 | Report by FMI

The Telehealth Software Market is estimated from US$ 6,010 Million in 2022 to US$ 14,200 Million in 2030, likely to surge at a vigorous 15.4% CAGR from 2022 to 2030. The adoption of telehealth software is transforming healthcare delivery phenomenally. With remote monitoring, wireless communications, and electronic consults, telehealth software is helping healthcare providers to expand patient care while improving patient satisfaction and outcomes.

With the rising use of digital technologies to deliver medical care and public health, hospitals, and healthcare systems are at the forefront of adopting and expanding via telehealth. For instance, according to American Hospital Association, recent years have witnessed significant growth in the adoption of telehealth software and solutions with more than 76% of hospitals in the U.S. fully or partially implementing computerized telehealth systems by 2018.

Digital technologies are continuously becoming an important resource for the enhanced delivery of health services and with the growing adoption of mHealth solutions, the opportunities for the growth of telehealth software are set to rise sharply in the coming years.

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Research indicates that there has been high spending on digital healthcare infrastructure with increasing sales of wearable technologies. Moreover, the integration and development of digital health technologies such as the Internet of Things (IoT), augmented and virtual reality (AR/VR), artificial intelligence (AI), and more are creating potential growth opportunities for the telehealth software market.

Key Takeaways of Telehealth Software Market Study

  • Cloud-based segment expected to capture around 45% of market share in 2020
  • Healthcare providers are dominating the market with the market share of 85% in 2019, owing to the growing adoption of real-time communication solutions and increased adoption of remote patient monitoring
  • South Asia & Pacific is estimated to grow at a CAGR of 20% in the telehealth software market owing to the continuous investments in digitalizing healthcare infrastructure

COVID-19 Impact Analysis on Telehealth Software Market

The outbreak of COVID-19 highlighted the need for businesses to adapt quickly to remote working options, pushing them to change their technological landscape to ensure business continuity during the pandemic. Thus, it brought the critical need for adoption of digital technologies and innovative solutions in the healthcare sector. With the evolving COVID-19 pandemic, healthcare providers are focusing on implementing and upgrading telehealth software and solutions to enhance their ability to care for massive increase in patients.

The adoption of telehealth software and solutions is helping healthcare providers and payers in avoiding unnecessary visits to healthcare facilities, thus, reducing the exposure to the coronavirus and also in keeping those on the frontlines safe. In addition to this, the demand for cloud-based telehealth software is expected to surge as the demand for real-time communication and remote monitoring is set to increase in coming years.

The telehealth software market grew around 13% Y-o-Y in 2018 and 2019 and with the outbreak of COVID-19, the market is expected to witness a growth rate of around 18%-20% during 2021-2023. Moreover, the telehealth software market is projected to increase 1.4x between 2020 and 2022, owing to the outbreak of COVID-19.

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Competition Landscape – Driving Growth through Innovation

Ongoing technological revolution, intense competition, and ever-changing customer expectations are creating a storm in the global telehealth software market, which is compelling solution providers to integrate smart technologies such as AI, IoT, Block chain, and AR/VR. Moreover, collaborations and partnerships with IT solution providers can also help telehealth software solution providers to enhance their market share and customer base.

For instance, in October 2019, American Well and Cleveland Clinic entered into the partnership to offer customers with broad access to healthcare services via telehealth. Together, both the organization formed a joint venture company “The Clinic” which offers the virtual care through American Well’s digital health technology platform.

Some of the key players in the telehealth software market are Aerotel Medical Systems Ltd., Koninklijke Philips N.V., Teladoc Inc., American Well, Chiron Health, Medtronic, Honeywell International, Tunstall Healthcare, AMD Global Telemedicine, Inc., Cisco Systems, Inc., and Medvivo Group Ltd.

More Valuable Insights on Telehealth Software Market

FMI’s report on the telehealth software market is segmented into four major sections which are Component (Software and Services), deployment (On-premises and Cloud based), end user (Healthcare Providers and Healthcare Payers & Patients), and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, Middle East & Africa) to help readers understand and lucrative evaluate opportunities in the Telehealth Software market.

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Telehealth Software Market Outlook by Category

By Component, Telehealth Software Demand is segmented as:

  • Software
    • Real Time Communication Software
    • Store and Forward Telehealth Software
    • Remote Patient Monitoring Telehealth Software
  • Services
    • Managed Services
    • Professional Services

By Deployment, Telehealth Software Outlook is segmented as:

  • Cloud-based
  • On-Premises

By End User, Telehealth Software Outlook is segmented as:

  • Healthcare providers
  • Healthcare payers and Patients

By Region, Telehealth Software Sales is segmented as:

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

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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 8-years.

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Future Market Insights Inc.
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T: +1-845-579-5705
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Marine Radar Market is anticipated to generate US$ 2.4 billion in 2033, with a 5.5% CAGR between 2023 and 2033

In 2022, the Marine Radar Market is anticipated to generate revenue of US$1.34 billion. As companies offer technologically cutting-edge maritime radar using various wireless technologies, the market is growing. As a result, revenue increased at a CAGR of 5.5% between 2023 and 2033, reaching US$ 2.4 billion by 2033. The market is projected to generate US$ 1.4 billion in 2023.

Developed and developing countries’ rising military expenditures have created a lucrative opportunity for market expansion. The global marine radar market is anticipated to expand over the course of the forecast period as a result of rising demand for weapon guidance applications and rising marine tourism spending. The market has a chance to expand as a result of the growing demand for luxury and recreational boats. The most significant use of is in the merchant marine.

Increasing investment by market players in research & development activities to achieve a competitive edge is expected to drive market growth. Also, the key market players are continuously collaborating with other manufacturers to provide new technology-based products. Thus with all these, the marine radar market is expected to grow in the coming years.

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Key Takeaways from the Market Study

  • The global marine radar market is expected to account for a 5.5%CAGR throughout the forecast period.
  • From 2018 to 2022, the market demand expanded at a CAGR of 5.3%
  • By product type, X-band radars are expected to accumulate a market share of 42.5% in 2033
  • By application, the merchant marine segment dominates the market with a share of 40%
  • North America to emerge as a promising market, capturing nearly 38% of the global market share in 2023
  • Asia Pacific to be an opportunistic market, expected to capture 27% of revenue

“The increasing technological advancement & increasing defense budget across the globe is expected to drive the growth of the marine radar market during the forecast period,” says the FMI analyst.

Competitive Landscape

Prominent players in the marine radar market are FURUNO ELECTRIC CO. LTD., Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Company, Saab AB, Japan Radio Co Ltd, BAE Systems, JRC, Garmin, FLIR Systems, Navico Group AS, GEM Elettronica, HENSOLDT UK, Koden Electronics Co. Ltd, Rutter Inc, Kongsberg Maritime AS, TOKYO KEIKI INC, Johnson Outdoors Inc, among others.

Leading players operating in the global marine radar market are focusing on intensive research and development for launching innovative products and services in the market. Product innovation is the key strategy adopted by market players. Brand consciousness and aggressive marketing by top players however make it challenging for new entrants in this market. The market players are also emphasizing offering radar systems with high reliability and high performance

  • In June 2022- Lockheed Martin delivers the first five sentinel A4 Air & Missile Defense Radars to the United States Army. The sentinel A4 radar is developed and manufactured by Lockheed Martin in Syracuse N.Y.
  • In June 2022- Raytheon Technologies announced that it will establish its global headquarters office in Arlington, Virginia.
  • In February 2022- Furuno Electric Cp. Ltd is proud to introduce its stable fish size indicator (Fish Finder) FCV- 38 which will optimize fishing operations with the help of spilt beam & multi detection technology.FCV-38 is the high-performance 4kW fish finder with a 38 kHz transducer using spilled beam technology that provides excellent depth detection capability.

Know More about What the Marine Radar Market Report Covers

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

To understand opportunities in the marine radar market, the market is segmented based on product type (X band radars and S band radars) and application (merchant marine, fishing vessels, yacht/recreational, and military/naval), across five major regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).

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Key Segments Covered in the Marine Radar Industry Analysis

By Product Type:

  • X Band Radar
  • S-Band Radar

By Application:

  • Marchant Marine
  • Fishing Vessels
  • Yacht/Recreational
  • Military/Naval

By Region:

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

About Future Market Insights (FMI)

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

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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Submarine Cables Market is Anticipated to Rise at a CAGR of 4.8% from 2022 to 2030 | Report by FMI

The Submarine Cables Market is expected to witness moderate growth, registering a 4.8% CAGR during the forecast period (2022-2030) and is projected to reach US$ 4.38 Billion by 2030. Through the course of the report’s forecast period, the market is expected to be driven by increasing investment in infrastructure intended to better international communications. Besides transmitting communication, submarine cables are widely used for power transmission.

These cables are developed to transmit power generated in offshore wind farms to various power stations and countries via island connections. With regards to communication, these cables are laid along the ocean floor to carry staggering volumes of data traffic between countries.

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Submarine Cables Account for Over 90% Data Traffic across the Globe

Submarine communication cables account for more than 90% of the data traffic generated across the world. They have an impressive carrying capacity, which is measured in terabits per sector. Subsequently, these cables are highly valued by OTT and behemoth communication providers such as Facebook, Microsoft, Google, and Amazon.

They are also considered vital components, indispensable for economies by most governments. Various countries therefore have implemented specific regulations governing the market. Some of the countries have even created safety zones, prohibiting access to the cables along the ocean floor, thus protecting them again potential damage.

Submarine Cable Line Ownership Gaining More Prominence among Tech-Enabled Product and Service providers

The growing volume of data traffic has augmented investment in submarine cables. FMI forecasts the market to witness increasing investment in regions such as the Middle East, Asia Pacific, Latin America, and Europe. Some of the leading communication providers are behind surging investment recorded in these regions. For instance, Amazon’s cables are laid from the U.S. to Asia Pacific, connecting countries such as California, Japan, Oregon, and Singapore.

FMI studies various factors impacting growth of the market in detail. It offers in-depth insights into the market. Some of these are:

  • Europe is forecast to emerge dominant in the global submarine cables market
  • Increasing offshore wind farm activities will augment investment in the market
  • Huge repair and maintenance cost may hinder growth
  • Barriers to the entry of small players will continue especially since the market is highly capital intensive
  • Nonetheless smaller companies are expected to focus on smaller projects across various regions

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Who is winning?

The submarine cables market is characterized by the presence of several behemoths hence it witnesses stiff competition. Because the market is highly capital intensive, it offers little opportunities for smaller and mid-sized companies. Nevertheless, smaller market players are expected to focus on smaller projects to stay afloat amid competition between behemoths.

FMI profiles some of the leading companies operating in the market. These include Alcatel Lucent, Google, NEC, Subcom, NKT A/S, Nexans, Prysmian Group among others.

Get Valuable Insights into Submarine Cables Market

Future Market Insights executive level blueprint of the submarine cables market in its report. It offers refined forecasts pertaining to revenue growth witnessed across various segments. Trends impacting the market’s trajectory across these segments are also studied in detail for a period between 2022 and 2030.

The report studies the global submarine cables market in terms of products into electrical cable, fiber optic cable, hybrid/ composite cable, and umbilical cable. Based on filling type, the market is segmented into oil/ fluid filled cable and solid filled cable.

On the basis of end use, the market covers oil and gas, renewable energy, telecommunication, and defense segments. Regionally, the global submarine cables market can be segmented into North America, Latin America, Europe, Asia Pacific, Oceania, and the Middle East and Africa.

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Submarine Cables Industry Survey

Submarine Cables Market by Solution:

  • Product
    • Electrical Cables
      • MVAC
      • HVAC
      • HVDC
    • Fiber Optic Cables
      • Loose Tube Type
      • Tight Buffered Type
      • Metal Tube Type
    • Hybrid/Composite Cables
    • Umbilical Cables
  • Service
    • Consultation and Advisory Services
    • Commissioning and Deployment Services
    • Maintenance and Testing Services
    • Upgrade Services

Submarine Cables Market by Filling Type:

  • Oil/Fluid Filled Cables
  • Solid Filled Cables

Submarine Cables Market by End Use:

  • Oil and Gas
  • Renewable Energy
  • Telecommunications
  • Defense

Submarine Cables Market by Region:

  • North America Submarine Cables Market
  • Latin America Submarine Cables Market
  • Europe Submarine Cables Market
  • Asia Pacific Submarine Cables Market
  • Middle East & Africa Submarine Cables Market

About Us

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 8-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
Browse Other Reports: https://www.futuremarketinsights.com/reports
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