Heat Recovery Steam Generator Market Comprehensive Research Study and Strong Growth in Future 2031

The market for Heat Recovery Steam Generator with heat recovery will surpass US$ 1.1 billion in 2021. The demand for energy-efficient power generation solutions and rising investments in enhancing power plant efficiency are identified as the main growth drivers.

These factors are expected to cause the market to expand at a steady CAGR of 5.7 percent, with the U.K., the U.S., Germany, and Japan emerging as major producers.

As per ESOMAR-certified consulting firm Future Market Insights (FMI), the global heat recovery steam generator market is anticipated to reach US 1.1 Billion in 2021. With the U.S., the U.K., Germany, and Japan emerging as key producers, the market is poised to grow at a 5.7% CAGR through 2031.

In addition, government initiatives in counties such as the U.S., the U.K., India, and China regarding the promotion of renewable energy will spur demand for heat recovery steam generators in the forthcoming years.

Further, sophisticated customization and innovative product solutions offered by OEM’s and heat recovery steam generator players will continue providing tailwinds to sales.

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As per FMI’s regional analysis, the U.K. is anticipated to lead the European heat recovery generator market. Stringent regulations regarding carbon emissions in the European Union, coupled with increasing adoption of renewable energy sources will enhance growth prospects through 2031.

“Increasing investments in the power generation sector to improve efficiency, coupled with inorganic growth strategies adopted by OEMs for better market reach will continue augmenting growth in the forthcoming years,” says the FMI analyst.

Key Takeaways:

  • Fully assembled heat recovery steam generators will remain the most preferred type of design.
  • In terms of configuration, horizontal drums will account for maximum sales.
  • Based on output power, 0-60 MW segment is poised to experience high demand.
  • Combined heat and power plants will dominate the application segment.
  • The U.S. is anticipated to witness high demand for heat recovery steam generators, owing to increasing energy production and need for sustainable methods. The North American market is poised to grow at a 4.4% CAGR.
  • The U.K. will continue leading the European heat recovery steam generator market, expanding at a 4.6% CAGR.
  • Demand for heat recovery steam generators will continue rising in China, due to rising adoption of combined cycle plants.
  • India will emerge as a lucrative market, owing to government-backed initiatives promoting renewable energy production.
  • Japan and South Korea will collectively account for 5% of the total market share.

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Competitive Landscape

Cleaver-Brooks, Siemens AG, General Electric, CMI Group, John Wood Group PLC, Cannon S.p.A., Mitsubishi Hitachi Power Systems, Ltd., Rentech Boilers Systems Inc., Hamon Deltak, Inc., AC BOILERS SpA, SES Tlmače, a.s., and Xizi United Holdings Limited are some players operating in the heat recovery steam generator market profiled by FMI.

Top 5 players in the market include General Electric, Siemens AG, CMI Group, John Wood Group plc, and Mitsubishi Hitachi Power Systems Ltd., accounting for 75.5% of the total market share.

Leading players, as a part of their growth strategies, are focusing on strategic collaborations, mergers, and acquisitions to expand their global footprint and improve their product portfolios. For instance:

  • In August 2021, Siemens Energy and state-owned Egyptian Electricity Holding Co. have signed a memorandum of understanding to develop a hydrogen-based, including a 100-200 MW pilot electrolyzer facility for the clean energy industry.
  • In August 2021, Mitsubishi Power’s Philippines unit secured a three-year term service agreement to maintain boilers of the Davao coal plant of Aboitiz Power Corp. The agreement is intended to maintain reliable energy access in Mindanao.

Heat Recovery Steam Generator Market by Category

By Design Type: 

  • Modular Construction
  • C-Section Construction
  • Bundle Construction
  • Fully Assembled

By Configuration Type:

  • Horizontal Drum Units
  • Vertical Drum Units
  • Horizontal-Once Through Units

By Output Power Type:

  • 0-60 MW
  • 60-100 MW
  • 100 MW & Above

By Application Type:

  • Co-generation (Process Heating)
  • Combined Cycle
  • Combined Heat & Power (CHP)

By Region, Heat Recovery Steam Generator Market is segmented as: 

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • China
  • Japan
  • India
  • South East Asia & Others (SEA)
  • Middle East & Africa (MEA)

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Medium Voltage Transformer Market Size To Reach US$ 16.1 million By 2032 | New Opportunities Planning By Future Market Insights

Future Market Insights has published a new market research report on the medium voltage transformer market that contains global industry analysis during 2022 to 2028 and opportunity assessment during 2022 to 2028. The report covers the latest trends, key success factors, market influencing factors, key information, forecasting factors, macroeconomics factors, and past market scenario. The report analyzes the medium voltage transformer market and provides critical insights for the forecast period of 2022 to 2028. The global medium voltage transformer market size is estimated to reach ~US$ 11.7 Billion in 2022, and expand at a CAGR of ~4.6% during the projected period of 2019-2028.

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As per the key findings of the report, the global medium voltage transformer market is expected to witness considerable growth in upcoming years, due to the steady increase in adoption of smart grids, increasing urbanization, rapid growth in power generation, and increasing government investments for electrification.

Increasing Government Investments for Electrification Expected to Drive the Market Growth

Government of various countries have planned to increase their funding for various projects related to electrification, such as railway electrification, transmission and distribution, and urbanization, among others. For instance, governments in countries such as Brazil and Mexico are planning to invest in electrification. These projects support the state electric boards (SEBs) in order to provide better power supply to rural and urban areas of the region or country. In addition, the government of India is also planning to make huge investments in numerous projects, such as Revised Accelerated Power Development and Reform Program and Rajiv Gandhi Grameen Vidyutikaran Yojna, among others, for establishing new power grids so as to provide electricity in the rural areas of the country.

Also, the government is focusing on installing new transmission lines and transformers in order to create a national grid, which will interconnect all the five regions of India — Northern, Southern, Eastern, Western, and North Easter

n. This national grid is known as ‘Transmission Super Highways’. Thus, growing infrastructure and electrification in various regions is set to increase the demand for medium voltage transformers.

Increasing Urbanization and Industrialization Estimated to Create High Sales Opportunity

Rural electrification projects, new power plants, as well as transmission and distribution facilities are some of the new developments that are being introduced in various countries in Middle East & Africa to increase urbanization and industrialization. Electrification projects are growing at a faster rate in countries, such as the United Arab Emirates, Qatar, Turkey, etc. Additionally, for the proper execution of these projects, medium voltage transformers are required for almost all applications. Thus, growing urbanization and industrialization will drive the medium voltage transformer market growth in the MEA region.

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Medium Voltage Transformer Market: Vendor Insights

The report highlights some of the prominent market players, who have established themselves as leaders in the global medium voltage transformer market. Few examples of key players in themedium voltage transformer market are Siemens AG, ABB Group, General Electric Company, Fuji Electric Co., Ltd., Hitachi, Ltd., Schneider Electric SE, Eaton Corporation PLC, Mitsubishi Electric Corporation, Jinpen International USA Ltd., CG Power & Industrial Solutions Ltd., Fortune Electric Co., Ltd., Schaffner Holding AG, Hammond Power Solutions Inc., Kirloskar Electric Company, and MGM Transformer Company, Amran Inc., among others.

For instance, medium voltage transformer manufacturers are focusing on providing compact size and environmental-friendly medium voltage transformers. The compact size can better manage moisture and thermal stress, and their average life span is higher. Eco-friendly transformers promise lower load loss as compared to other conventional transformers. Therefore, the rising demand for lighter, smaller and eco-friendly medium voltage transformers is likely to shape the future of the medium voltage transformers market.

Key Segments of Medium Voltage Transformer Industry Survey

Medium Voltage Transformer Market by Rating:

  • 1,200 kVA Medium Voltage Transformers
  • 1,500 kVA Medium Voltage Transformers
  • 2,000 kVA Medium Voltage Transformers
  • 2,500 kVA Medium Voltage Transformers

Medium Voltage Transformer Market by Product:

  • Dry Medium Voltage Transformers
  • Oil-immersed Medium Voltage Transformers
  • VPI Medium Voltage Transformers

Medium Voltage Transformer Market by Configuration:

  • Single-phase Medium Voltage Transformers
  • Three-phase Medium Voltage Transformers

Medium Voltage Transformer Market by Application:

  • Building Establishments
  • Residential
  • Commercial
  • Civil Infrastructure
  • Industrial
  • IT – Data & Server Centers

Medium Voltage Transformer Market by Region:

  • North America Medium Voltage Transformer Market
  • Latin America Medium Voltage Transformer Market
  • Europe Medium Voltage Transformer Market
  • East Asia Medium Voltage Transformer Market
  • South Asia & Pacific Medium Voltage Transformer Market
  • Middle East & Africa (MEA) Medium Voltage Transformer Market

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Lamella Clarifier Market is anticipated to touch a value of nearly US$ 806.7 Million in the year 2032

The market for lamella clarifiers was worth approximately US$ 489.2 million in 2021, and it is anticipated to grow at a CAGR of 4.7% from 2022 to 2032. By 2032, the market is anticipated to be worth US$ 806.7 million.

The global lamella clarifier market is expected to grow at a CAGR of 4.1% during the forecast period. The report also suggests that there is a strong focus on research and development activities to introduce a new range of lamella clarifiers while maintaining the quality and efficiency of the product.

A lamella clarifier is a type of settler designed to remove particulates from liquids. It is often used in primary water treatment in place of conventional settling tanks. The working principle of a Lamella Clarifier is based on the settling under the gravity, which provides a series of inclined plates to give a large projected surface area with comparatively smaller footprint than other types of clarifiers (circular and rectangular). Lamella Clarifiers find application in various end-use industries such as paper and pulp, food and beverage etc.

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Global Lamella Clarifier Market: Dynamics

A lot of factors are responsible for influencing the growth of the global lamella clarifier market. One of the major factors contributing to the growth of market is a rapid industrialisation and urbanisation across the globe that have helped the market improve in a lot of ways including technologically. Also the increase in the number of industries all over the world have helped fuel the application of lamella clarifiers, in turn helping the global lamella clarifier market to witness steady growth.

However the market is expected to face certain restraints as the increase in the number of industries is likely to magnify the competition levels in the global market and therefore, may narrow the profit margin of the companies. There is also an increase in demand for used clarifiers, which has limited the demand for new lamella clarifiers and this can restrict the revenue growth of the global lamella clarifier market.

Global Lamella Clarifier Market: Segmental Highlights

To give the research a holistic view, the global lamella clarifier market is segmented on the basis of application and region. On the basis of application the segments include industrial segment and municipal segment. On the basis of region, North America, Latin America, APEJ, Western Europe, Eastern Europe, MEA, Japan are studied in this report.

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Here are some key highlights from the analysis of these segments:

Among the application segments, industrial segment is expected to lead the market with a market value of over US$ 260 Mn in 2017. This includes the chemical and fertilizer segment as the maximum contributing sub-segment with a market share of over US$ 52 Mn in 2017.

Among the regions, Asia Pacific excluding Japan is expected to hold the maximum value in the global market of over US$ 130 Mn in 2017, growing at a CAGR of 3.9% during the forecast period. However in terms of CAGR, North America dominates the global market with a CAGR of 4.8% during the forecast period.

Global Lamella Clarifier Market: Competitive Dynamics

The research report by FMI, also consists of a section on the competitive scenario of the global market, which highlights the complete profiles of the leading companies in the market. Some of the top companies mentioned in the report are Metso Corporation, Westech Engineering Inc., Ion Exchange (India) Ltd, ENEXIO Germany GmbH, Aes Arabia Ltd, Parkson Corporation, Nordic Water Products AB, Jorsun etc.

Key Segments Covered in Lamella Clarifier Industry Analysis

By Application:

  • Industrial
    • Paper and Pulp Industry
    • Food and Beverage Industry
    • Oil and Gas Industry
    • Chemical and Fertilizer
    • Mining and Metals
    • Power Industry
    • Others
  • Municipal

By Region:

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

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India Electrical Testing Services Market is expected to be worth US$ 296.02 million by 2032

Between 2022 and 2032, the global India Electrical Testing Services Market is expected to be worth US$ 192.45 million, growing at a CAGR of 4.4%. The electrical testing service market is expected to be worth US$ 296.02 million by 2032.

Modern industry has been able to adopt a wide range of machines with fully automated operations due to the widespread availability of dependable and affordable electrical power. While increased automation of these systems aids in the reduction of maintenance costs, regular electrical testing ensures that all systems are in good working order.

Due to the economic impact of COVID-19, the demand for electrical testing services declined in 2020. Nevertheless, as economies get back on track, it will lead to recovery of operations across various industries. In turn the demand for electrical testing services will grow.

Electrical testing services are a sort of evaluation that entails a complete inspection, scrutiny, and diagnosis of critical heavy duty electrical equipment to ensure its operational performance and lifespan. Transformers, rectifiers, circuit breakers, electrical cables, transmission lines, batteries, and so on are examples of electrical equipment.

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Electrical service technological improvements have resulted in increased complexity in maintenance work and services. As a result, the need for electrical testing services designed to supplement complicated industrial networks is expected to increase in the future years.

Key Takeaways of North America Electrical Testing Services Market Study

  • In terms of service type, the demand for transformer testing and circuit breaker testing will remain considerably high through the forecast period.
  • The U.S. will emerge as a highly lucrative market, accounting for maximum demand for electrical testing services in North America.
  • Industrialization in China, will support expansion of the electrical testing services market in Asia Pacific.
  • Favorable government policies and expansion of power generation stations will continue supporting growth in India.

“Surge in the demand for more efficient electrical devices and electrical machinery in various sectors will present attractive scope for sales of electrical testing services. In order to gain competitive strength, the market players are expected to focus on expanding their footprint in emerging markets” says a FMI analyst.

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Competitive Landscape

The market is moderately consolidated, with key players accounting for more than half of the market share. These players are likely provide long-term service guarantee with annually maintaining contract. Some of the key players in the market are Schneider Electric, Siemens AG, Eaton Corporation plc, General Electric Company, ABB Inc., RESA Power LLC, Voltech Engineers Pvt. Ltd., DNV GL, Dobel Engineering Company, Power Products & Solutions, American Electrical Testing, Haugland Group LLC, Dekra, TCS Electrical Co., Phase One Electric, Intran, GEM Electrical Services and Electric Power Systems.

Global Electrical Testing Services Market Projection

Electrical Testing Services market is likely to grow at a moderate pace during 2021-2031. As the market have competition intensity due to the offered service rate and durability of service from recognized service team. Due to the new technological evolvement in the testing equipment it makes easier for service/testing person to do it more efficiently. The companies are providing AMC for their products only due to compatibility of the parts/material used.

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India Electrical Testing Services Market by Category

By Service Type:

  • Transformer Testing
  • Circuit Breaker Testing
  • Protection Testing
  • Battery Testing

By End User:

  • Power Generation Stations
  • Transmission and Distribution Stations
  • Steel Plants
  • Major Refineries
  • Railways

By Region:

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

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Oil and Gas Terminal Automation Market is expected to grow at a 7.8% CAGR between 2022 and 2032, reaching approximately US$ 2761.6 Million by 2032.

In 2021, the global Oil and Gas Terminal Automation Market was valued at US$ 1258.0 million, with a forecasted increase to US$ 1303.1 million in 2022. Because of the rapid expansion of the oil and gas industry, global demand for oil and gas terminal automation is expected to grow at a 7.8% CAGR between 2022 and 2032, reaching a value of around US$ 2761.6 million by 2032.

As the number of terminal operations grows around the world, end users are looking for ways to increase productivity and efficiency while still meeting consumer demands. This has increased public awareness of the oil and gas terminal automation market.

The utilisation of technology and systems is required for the automation of oil and gas terminal procedures, particularly those involving load authorisation, product movement, product measurement, documentation, and reporting. These solutions help firms cut expenses while improving productivity, efficiency, and safety.

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During the forecast period, the oil & gas terminal automation market is anticipated to experience strong growth due to the rising demand for energy around the world and rising investments in terminal automation solutions.

Growing concerns pertaining to cyber security and safety coupled with relatively higher initial capital investment associated with building a completely automated oil and gas terminal are likely to serve as impediments to growth of the global oil and gas terminal automation market between 2016 and 2026.

Segmentation highlights

The global oil and gas terminal automation market has been categorically divided into key market segments based on category and region. On the basis of category, the market has been segmented into software, hardware, and services segments. These in turn are divided into key sub-segments.

  • The Software category segment is projected to dominate the global oil and gas terminal automation market during the forecast period, accounting for a market share of nearly 38% in terms of value by the end of 2026. On the other hand, the hardware segment is estimated to witness a 7.0% CAGR during the forecast period to account for a market share of 33.7% in the overall oil and gas terminal automation market by 2026 end. Within the hardware segment, the HMI segment is likely to witness fast growth during 2016 –-2026.

Regional projections

The North America and Asia Pacific excluding Japan (APEJ) markets are anticipated to emerge the dominant regional markets in the global oil and gas terminal automation market throughout the assessed period. Asia Pacific is estimated to project 8.8% CAGR in the forecast period, 2016–2026. The oil and gas terminal automation market in countries in Eastern Europe is also likely to witness steady growth in the next 10 years.

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Vendor insights

The global oil and gas terminal automation market is dominated by a few top market companies such as Honeywell International Inc., Emerson Electric Co., ABB Group, Rockwell Automation, Inc., Yokogawa Electric Corporation, Siemens AG, FMC Technologies, Inc., and Schneider Electric SE. Certain key market companies are increasingly focussing on acquiring smaller players with specialised offerings – for instance, wireless technology-based advanced systems – to better cater to the steadily growing global market demands so as to gain an edge over the competition.

Key Trends Driving the Oil & Gas Terminal Automation Market

“Rising Focus Towards Storage of Oil Creating Opportunities for the Market Participants”

Relatively slower economic growth especially in oil-consuming nations such as China, and the crude oil supply glut experienced over the recent past have driven the global average crude oil prices southwards over the same period. The initial phase of the forecast period is thus expected to be characterized by a contango situation resulting in an increased emphasis on the storage of oil across the globe. This will continue to generate lucrative opportunities for oil & gas terminal automation solution providers.

Moreover, increasing demand for natural gas, especially liquefied natural gas is expected to result in the emergence of several new terminals in North America and the Asia Pacific, among other regions

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Key Segments Covered in Oil & Gas Terminal Automation Industry Analysis

By Hardware:

  • ATG
  • Blending Controllers
  • SCADA
  • PLC
  • DCS
  • HMI
  • Safety; Security & Others

By Software:

  • Terminal & Inventory Management
  • Business System Integration
  • Transaction Management
  • Reporting
  • Others

By Services:

  • Commissioning
  • Consulting Services
  • Project Management
  • Operations Services
  • Training Services

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.

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India Power Tool Market is expected to reach valuation of US$ 5672.60 million by 2022, growing at an 8.9% CAGR from 2022 to 2032.

The global India Power Tool Market is expected to be worth US$ 5672.60 Million by 2022, growing at an 8.9% CAGR between 2022 and 2032. By 2032, the India power tool market is expected to be worth US$ 13306.41 Million.

Power tools are in high demand because of their wide range of applications, practicality, and effectiveness in a variety of fields, and especially because of the time and effort they save and the portability they provide.

The power tools in India Compared to household power tools, the demand for industrial power tools is anticipated to rise in the industrial sector. By the end of 2016, the household power tool segment is expected to represent 44.2% of the market’s value, compared to the industrial power tool segment’s projected revenue contribution of over 55.8%.

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The Indian power tool market is projected to generate INR 3,532.8 crore in revenue by the end of 2016, an increase of 6.7% from the previous year. Because of growing industrialization and widespread access to a wide range of power tools, the power tool market in India will grow. The South and North Indian markets are expected to dominate the Indian market.

Professional power tools will keep growing in popularity, and as tools switch from nickel-cadmium to lithium-ion power, new business opportunities will arise for the nation’s power tool manufacturers.

Low operational costs and ease of use will drive the electric power tools segment, which is expected to dominate the India power tools market until the end of 2016. Pneumatics and other segments are expected to contribute more than 46 percent of the value share to the India power tools market in 2016.

Because of the concentration of a large number of industries, the markets in South and West India have the highest penetration of power tools. South and North India markets are expected to grow significantly in terms of revenue, while East and North India markets are expected to grow moderately.

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Competitive Landscape

The report includes market share analysis of the existing international, China-based and domestic players in the market. The report also profiles both global and domestic players in the India power tools market.

Global Players in the market include Atlas Copco AB, Snap-on International, Techtronic Industries Co. Ltd., Danaher Corporation, Actuant Corporation and SKF AB. Regional players in the market include Stanley Black & Decker, Hitachi Koki Co. Ltd., Makita Corporation, Robert Bosch GmbH and Kulkarni Power Tools.

Long-term Outlook:

India power tools market is anticipated to register a healthy CAGR of 9.5% in terms of volume and 8.9% in terms of value over the forecast period, 2016–2026. Electric power tools market is estimated to account for 56.6% in terms of revenue share by end of 2026.

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Key Segments

By End-use:

  • Industrial Power Tools
  • Household Power Tools

By Mode of Operation:

  • Electric
  • Pneumatic
  • Others

By Country:

  • North India
  • South India
  • East India
  • West India

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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Variable Frequency Drive (VFD) Market is expected to grow at a value CAGR of more than 5% through 2031

The Variable Frequency Drives Market (VFD) has seen significant stability as a result of increased opportunities for infrastructure development in emerging regions, which has boosted demand for heating and ventilation systems. VFD development is currently shifting towards offering industry-specific solutions with the goal of lowering costs and reducing operational downtime, prompting a slew of manufacturer innovations.

Cost optimisation, total cost of ownership reduction, and energy conservation have always been pillars of industry participants. These parameters must be considered when operating with heavy loads. As a result, the global VFD market is expected to exceed 32 million units in volume sales by 2020.

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According to the latest study conducted by ESOMAR-certified market research and consulting firm Future Market Insights (FMI), the report tracks the global sales of variable frequency drives in 20+ high-growth markets, along with analyzing the impact COVID-19 has had on the electronics industry in general, and variable frequency drives in particular.

Key Takeaways 

  • When operating with heavy loads, it is crucial to keep some parameters in account such as cost optimization, reducing total cost of ownership, and energy conservation. These attributes have registered volume sales exceeding 32 million units in 2020 in the global VFD market.
  • With consistent improvements and enhanced performance, variable frequency drivers have been positively impacting industrial growth throughout the assessment period.
  • Manufacturers are likely to experience widening profit margins across the South Asia & Pacific region, with China emerging at the forefront in the wake of exploding construction and automotive sectors.
  • Germany and the United States are also expected to yield immense opportunities. Based on these trends, the VFD market is poised to grow at a value CAGR exceeding 5% through 2031.

Competitive Landscape 

ABB Ltd, Siemens AG, Danfoss A/S, Rockwell Automation, GE Energy Power Conversion, Toshiba International Corporation, Schneider Electric, Mitsubishi Electric Corporation, Honeywell International Inc., Emerson Industrial Automation, Fuji Electric Co. Ltd, Johnson Controls Inc., Eaton PLC, Hitachi Ltd are some of the key companies profiled in the full version of the report.

A large supplier base and strong B2B networks define the robustness of the market with strong partnerships throughout the value chain. Suppliers of variable frequency drives adopt acquisition and regional expansion strategies to establish a firm foothold. Brand consciousness and aggressive marketing make it challenging for new entrants in the variable frequency drives market.

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More Insights into the Variable Frequency Drive (VFD) Market

The United States is poised to remain highly lucrative, capturing over three-quarters of the global market share throughout 2021. The presence of key OEMs is an important growth catalyst for the region’s market.

According to estimations projected by Future Market Insights nearly a quarter of the revenue generated across the United States market is likely to be from the oil & gas segment. As of 2019, it extracted a record high 4.46 billion barrels of crude oil while natural gas production amounted to 34 trillion cubic feet. A volume CAGR of over 6% is projected for the U.S market.

The German variable frequency drives market is likely to expand at an annual rate exceeding 7% through 2021, attributed to heightened HVAC systems applications across the automotive segment. Globally, Germany is a leading automotive market, generating an output of nearly 6 million vehicles in 2017.

According to the China Association of Automobile Manufacturers, car sales spiked by over 6% annual growth rate to nearly 3 million units by 2020-end. Sales of new energy vehicles such as battery-powered electric, plug-in hybrid Electric Vehicles and hydrogen fuel-cell vehicles also surged by a whopping 11% compared to 2019. Hence, VFD manufacturers have been experiencing credible investment opportunities.

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Variable frequency drives Market: Segmentation

Drive Type

  • AC Drive
  • DC Drive

Voltage Range

  • Low Voltage
  • High Voltage

Application Type

  • Standard
  • Regenerative

End-use Application

  • Pumps
  • Fan
  • Compressor
  • Conveyor
  • HVAC
  • Others

End-use Industry

  • Oil & Gas
  • Food processing
  • Automotive
  • Mining & Metals
  • Pulp & Paper
  • Others

Region

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

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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Ultra Violet (UV) Lamps Market was valued at approximately US$ 360.6 million in 2021 and is expected to grow at an 11.2% CAGR from 2022 to 2032.

The global Ultraviolet (UV) Lamp Market is expected to create opulent opportunities by registering a robust CAGR of 11.2% between 2022 and 2032. The market was worth approximately US$ 360.6 million in 2021 and is expected to reach US$ 1,123.7 million by 2032.

In the global ultraviolet (UV) lamps market, ultraviolet (UV) mercury lamps are expected to account for the largest market share of approximately 67.3%.

According to a historical analysis of the ultraviolet (UV) lamps market from 2017 to 2021, the market grew at a CAGR of 7.8% and is expected to grow at an 11.2% CAGR from 2022 to 2032.

The installation of ultraviolet systems is on the rise as various municipalities across the globe are encouraging its use in water and wastewater treatment plants and facilities.

For the treatment of industrial effluents, the need for UV disinfection equipment is anticipated to fuel along with that, it is also helpful in meeting the rising processed water requirements of these industries. Attributing to these aforementioned factors, the global ultraviolet (UV) lamps market is projected to grow by 2.8x by 2032 when compared to 2022.

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Key Takeaways

  • Ultraviolet technology is considered cost-effective in terms of efficiency, environmental impact, and operating cost in comparison to other disinfectant technologies such as ozonation and chlorination processes. Due to these factors, the need for ultraviolet (UV) Lamps is prevalent in the coming years.
  • Growing concerns about public safety and environmental issues have led to the enforcement of strict regulations regarding water and wastewater treatment facilities across the globe, which are driving the ultraviolet (UV) lamps market forward. According to FMI analysis, the ultraviolet (UV) lamps market is anticipated to hold nearly 2% of the global water and wastewater treatment equipment market in 2022.
  • Rising investments in social infrastructure and proactive initiatives taken by the governments of several countries all over the world are expected to result in the development of new water and wastewater treatment plants. The rising prevalence of water-born diseases across the globe is yet another factor driving growth in the ultraviolet (UV) Lamps Market
  • In developed countries like North American and European regions, the healthcare sector including various facilities such as hospitals and clinics is widely adopting UV disinfection equipment for the surface and various air disinfectants to kill air-born germs. These infections are most commonly used in hospitals in order to reduce hospital-acquired infections (HAIs).
  • Expansion of several industries including chemicals & materials and food & beverage are also responsible to push the production capacity of numerous companies by setting up new plants all over the world.
  • Over recent years, there have been some impeccable advancements in the field of UV lamps. The major players in the UV disinfection lamp market are focused on enhancing the performance of disinfection equipment systems by modifying the design through several techniques such as flow distribution and lamp arrangements.

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Competitive Landscape

Leading manufacturers in the UV disinfection system are focusing on global expansion plans by establishing new offices and partnering with local distributors in order to cater to the growing demand from water and wastewater treatment facilities.

In addition to that, various companies are investing in R&D activities to introduce efficient products. This has further led to advancements in the design of electronic ballasts combined with intelligent UV systems in order to produce new devices with low power consumption and minimal maintenance cost.

Innovations and advancements among the leading manufacturers are driving demand for ultraviolet (UV) mercury lamps. Several companies are engaging in partnerships and collaborations in order to co-develop novel products and get an edge over the market.

Key Segments Covered in Ultra Violet (UV) Lamps Industry Analysis

By Lamp Type:

  • UV Mercury Lamp
  • UV LEDs

By End-Use Application:

  • Wastewater Treatment
  • Water Treatment
  • Air Treatment
  • Surface Disinfection
  • Food & Beverages Disinfection

More Insights into the Ultraviolet (UV) Lamps Market

The U.S. is expected to dominate the global market by accounting for around 17% of the total market’s revenue share. Surging investments in various end-use industries such as pharmaceutical, chemical processing, food & beverage, and water sectors in the U.S. are likely to play a significant role in driving the demand for wastewater treatment, thereby pushing sales of UV disinfection equipment like UV lamps during the projection period.

China is considered the second largest market to generate total revenue of 14.7% between 2022 to 2032. Various measures have been taken in China to promote environmental protection and industrial development over recent years.

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
For Sales Enquiries: sales@futuremarketinsights.com
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USA Plastic-to-fuel Market is expected to grow at a CAGR of around 7% to be worth approximately US$ 221.3 million by the end of 2032

Over the forecasted years of 2022 to 2032, the US Plastic-to-fuel Market is expected to grow at a rate of 7%. The US plastic-to-fuel market is expected to reach a value of around US$ 221.3 million by the end of 2032, up from a value of US$ 112.5 million in 2022.
Due to the need for a clean and sustainable environment, there is an ongoing effort to obtain energy from alternative sources such as garbage. In accordance with this requirement, the US government has begun using plastic-to-oil machines in several locations to reduce the increase in household and industrial garbage.

The need for clean fuel is anticipated to expand exponentially each following year, as the demand for fossil fuels is anticipated to rise in the near future as a result of rising pollution levels and tightening government laws aimed at reducing the amount of carbon in fuels. For this reason, the hydrogen segment has emerged to be a major stakeholder for US plastic-to-fuel market opportunity in the coming days.

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The US plastic-to-fuel market’s development is anticipated to be constrained by the high setup costs. Pre-processing used plastic garbage is still another significant element that raises the whole cost presenting a major challenge for the US plastic-to-fuel market growth in US as well as other parts of the world. Moreover, the plastic fuel business will soon see rapid growth because of the favourable regulatory framework that the international organizations and local politicians are creating.

However, a number of factors, such as feedstock contamination, process choice, etc. may affect how much fuel is produced. Due to increased concerns about high-quality & sustainability among plastic makers, many plastic-to-oil producers are concentrating on employing advanced machines which is boosting the industry’s popularity of liquid fuel.

Key Takeaways from US Plastic-to-fuel Market Study

  • The overall growth of the US plastic-to-fuel market is estimated to be around US$ 11.5 Billion over the forecast years through 2032, by experiencing the astounding CAGR of 13.5%.
  • By acquiring roughly about 40% of the market share in terms of revenue in the year 2019, Vadxx led the US plastic-to-fuel market share in terms of total sales of fuels, followed Agilyx and RES Polyflow, in that order.
  • Crude oil and diesel are the two major sub-segments of the fuels generated by conversion technologies, with crude oil projected to have the largest market share in the coming days. In the aftermath of such developments the US plastic-to fuel market participants have, however, made changes to the method that they have all trademarked as private technology.

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Competitive Landscape for the US Plastic-to-fuel Market

Major US plastic-to-fuel businesses include Plastic2Oil, Agilyx Corporation, Vadxx Energy, Green Envirotecir Holdings LLC, and RES polyflow dominate the U.S. plastic-to-fuel market.

Major players in the US plastic-to-fuel market are collaborating with sources of gas plastic feedstock, includiing businesses that produce waste plastic and local governments. The majority of businesses intend to expand in the upcoming years, which could probably result in a rise in the amngount of money made in the US plastic-to-fuel industry.

Recent Developments in the US Plastic-to-fuel Market:

  • A 20-year master contract between Plastic2Oil Inc. and Veridisyn Technologies LLC, which is an alternative energy project developer with offices in Tuscaloosa, Alabama, was announced in January 2018. As part of the arrangement, Veridisyn has promised to acquire P2O processors and license for P2O’s technology for improving the efficiency of its established facilities.

Key Segments

By Revenue Generation Model:

  • Fuel
  • Processors
  • Royalties

By Technology:

  • Pyrolysis
  • Depolymerisation
  • Gasification

By End Products:

  • Crude Oil
  • Sulphur
  • Hydrogen
  • Diesel
  • Others

By Region:

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

Plastic-to-fuel technology is expected to be a game changer in the energy market. There are three revenue models in the U.S. plastic-to-fuel market:

1. Revenue from sale of processors

2. Revenue from sale of fuels produced using waste plastic processors

3. Revenues from royalties earned by sharing proprietary technology.

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Drivers & Trends

The global need for an alternative fuel technology due to depleting natural resources, and increasing use of plastic are among the key drivers of the market. Increasing waste plastic generation necessitates for a recycling technology, which reduces landfill waste in addition to converting waste into combustible fuel meeting environmental standards. Abundant raw material availability coupled with their low cost (sometimes zero cost) attracts more players in this market. However, complexities in the conversion technology as well as high initial setup cost for plastic to fuel conversion facility are witnessed as key constraints for the growth of the U.S. plastic-to-fuel.

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
For Sales Enquiries: sales@futuremarketinsights.com
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Sepsis Diagnostics Market is projected to record a CAGR of 8.1% between 2023 and 2033 | FMI Study

Between 2023 and 2033, the market for sepsis diagnostics is anticipated to grow at a CAGR of 8.1%. The market is anticipated to be worth US$ 561.2 million in 2023. By 2033, the valuation is anticipated to surpass US$ 1.2 billion.

The sector is booming due to increased demand for antibiotic-resistant bacterial strains, an ageing population, and a high prevalence of hospital-acquired infection. Additionally, a spike in the proportion of product approvals for sepsis diagnosis is expected to promote demand for sepsis diagnostics.

However, factors such as a lack of experienced specialists for diagnosing sepsis, a lack of knowledge, and the adoption of conventional processes during antibiotic production hamper the sales of sepsis diagnostic.

Owing to the rise in newborn umbilical cord infection occurrences and the number of surgical procedures in these countries, developing markets provide a positive outlook for sepsis diagnostics.

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HAIs, also known as nosocomial infections, are a leading source of morbidity and mortality in hospitals around the world. Urinary tract infections, pneumonia, and sepsis are the most frequent hospital-acquired infections (HAIs). In addition, in immunocompromised individuals, aged patients, and people with chronic conditions, HAIs can cause sepsis. Because of the significant rise in HAIs around the world, demand for sepsis diagnostic devices is projected to expand in the future years.

Sepsis is a complex condition to detect, and even a one-minute delay in antibiotic delivery increases the chance of death by 7.6% in septic shock patients with hypertension. As a result of the emerging trends in the sepsis diagnostics market, there is a greater need for quick sepsis detection to avoid antibiotic therapy delays in sepsis patients.

Many sepsis diagnostic companies are growing their product offerings in point-of-care technologies, which can quickly identify sepsis, cut down on diagnosis time, and improve life expectancy after sepsis.

The global sepsis diagnostics market is predicted to reach US$ US$ 770 Mn by 2026.

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Key Takeaways

  • Attributed to the presence of a larger consumer population in developing markets such as India and China, the Asia Pacific region of rapid sepsis diagnostics is expected to grow profitably over the forecast period.
  • The global sepsis diagnostics market adoption trends indicate North America is likely to generate more than $200 million in revenue by the end of 2026. The sepsis diagnostics companies in the region are growing due to well-established healthcare infrastructure and increased usage of innovative products. Septic poisoning is also one of the leading causes of death in the United States.
  • As per the sepsis diagnostics market analysis, microbiology technology is likely to gain traction. Microbiology is expected to generate more than $200 million in income by 2026.
  • By product, the sepsis diagnostics market opportunities are divided into blood culture media, assays & reagent kits, devices, and software. The blood culture media segment held the most significant market share during the forecast period. This growth can be ascribed to a rise in blood culture media as a sepsis diagnostics device.

“Sepsis diagnostics device are expensive, limiting the growth of this industry. Additionally, in certain countries, there are no clear guidelines for the treatment of sepsis, and there is a lack of awareness about the repercussions of sepsis if it is not treated effectively.”

Competitive LandscapeOrganizations in the global quality articulation market are consolidating and acquiring systems to gain a competitive advantage and generate significant profits. On the other hand, some players benefit from significant new work systems to gain a competitive advantage in the sepsis diagnostics market statistics.

  • Cytovale Inc. and the Biomedical Advanced Research and Development Authority, or BARDA, announced cooperation in April 2020 to increase the use of Cytovale’s Rapid Sepsis Diagnostic System for identifying sepsis in patients with probable respiratory infections, such as COVID-19.
  • Immunexpress announced a quick SeptiCyte, a one-hour molecular diagnostic test for sepsis, on Biocartis’ Idylla platform in Europe in October 2020. This is one of the first deeply integrated, immune response-based diagnostics to help clinicians diagnose sepsis and sepsis diagnostics market analysis.

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Key Segments

By Product:

  • Blood Culture Media
  • Assays & Reagents
  • Instruments, and Software

By Technology:

  • Blood Culture
  • Immunoassays
  • Molecular Diagnostics
  • Flow Cytometry
  • Microfluidics
  • Biomarkers

By Method:

  • Automated Diagnostics
  • Conventional Diagnostics

By Pathogen:

  • Bacterial Sepsis
  • Fungal Sepsis
  • Viral Sepsis
  • Others

By Test Type:

  • Laboratory Tests
  • Point-of-Care Tests

By End User:

  • Hospitals and Specialty Clinics
  • Pathology & Reference Laboratories
  • Research Laboratories & Academic Institutes

About 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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