Booming North America Shipping Supplies Market Expected to Reach US$ 37.8 Billion by 2032

The projected growth of the North America shipping supplies market at a CAGR of 4.2% between 2023 and 2032 indicates a positive outlook for the industry. Several factors contribute to this growth, including the prominence of the United States as a major exporter and the increasing demand for advanced shipping supplies.

The United States, with its large economy and substantial exports, plays a crucial role in driving the demand for shipping supplies. Key export sectors such as integrated circuits, vehicles, petroleum gas, refined and unrefined petroleum, and automobiles require adequate packaging materials to ensure the safe transport and delivery of goods. As the US continues to expand its exports, the sales of packaging supplies like drums, cartons, boxes, straps, and tapes are expected to grow.

In addition to the US, other countries such as the Netherlands, China, Japan, Mexico, and Canada serve as significant trading partners for the United States. These trade relationships further contribute to the demand for shipping supplies as goods are transported internationally.

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Furthermore, government regulations concerning labeling and packaging during shipping play a vital role in driving the demand for shipping materials. Compliance with these regulations ensures that goods are packaged appropriately and reach their destinations in the desired condition. As regulations evolve and become more stringent, the need for advanced shipping supplies will continue to rise.

The rapid expansion of the US logistics sector also fuels the growth of the shipping supplies market in North America. As the logistics industry expands to accommodate the increasing volume of goods transported domestically and internationally, there is a corresponding need for packaging materials to support this growth.

Overall, the combination of increased exports, trade relationships, government regulations, and the expansion of the logistics sector contributes to the projected growth of the North America shipping supplies market. By 2032, the demand for shipping goods in proper condition is expected to drive significant growth in the industry.

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Key Takeaways from North America Shipping Supplies Market

  • Based on material, the paper segment is expected to cover 44% of the North America shipping supplies market share by the end of 2023.
  • By packaging format, the corrugated boxes segment is projected to create a growth opportunity of US$ 4.6 Bn during the forecast period.
  • In terms of end use, the e-commerce companies sub-segment under the commercial segment is estimated to grow 1.5 times the current market value during the evaluation period.
  • Mexico shipping supplies market is expected to grow 1.8 times the current value during the projected time frame.
  • During the historical period (2017-2022), the North America shipping supplies market witnessed a CAGR of 2.5% and reached a valuation of US$ 25.2 Bn in 2022.

“Significantly growing national and international trade activities, better trading relationships, and relaxation of trade laws are some of the major growth drivers for the North America shipping supplies market.” – Says an FMI analyst.

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Key Players :

  • DS Smith Plc
  • Mondi Group
  • Amcor Plc
  • Sonoco Products Company
  • WestRock Company
  • Sealed Air Corporation

North America Shipping Supplies Market Outlook by Category

By Material:

  • Plastic
  • Polyethylene (PE)
  • Polypropylene (PP)
  • Polyethylene Terephthalate (PET)
  • Polyvinyl Chloride (PVC)
  • Others
  • Paper & Paperboard
  • Metal
  • Wood

By Packaging Format:

  • Corrugated Boxes
  • Folding Cartons
  • Bags
  • Crates
  • Drums & Barrels
  • Straps
  • IBCs
  • Mailers & Envelopes
  • Wraps
  • Labels
  • Tapes

By End Use:

  • Commercial
  • E-commerce Companies
  • Courier Service Companies

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Exploring the Various Applications of Phosphates in Agriculture and Other Industries: Trends and Forecasts

The global phosphates market has witnessed steady demand from numerous end use industries including agrichemicals, animal feed, cleansers and detergents, food and beverages, water treatment and more. According to the latest study by Future Market Insights (FMI), the global market of phosphates is anticipated to grow with a growth rate of 2.7% during the forecast period of 2021 to 2031.

Ammonium phosphate and calcium phosphate are anticipated to remain key product types in the global market since they play a crucial role in the fertilizers industry. Diammonium phosphate, monoammonium phosphate, single super phosphate, and triple super are among the more commonly used variants.

With growing concerns over food security due to the rising global population, the demand for phosphate-based fertilizers is anticipated to increase in the coming years. Moreover, the decreasing arable land area all over the globe owing to urbanization and industrialization has fueled the growing demand for phosphates.

The phosphate market is anticipated to witness a slowdown during the Covid-19 crisis owing to the decrease in the demand from the industrial sector. However, the market has witnessed a positive outlook during the crisis owing to the production of agricultural products and animal feed. These factors will prove crucial for continued growth of the global phosphates market.

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Key Takeaways from Phosphates Market Study

  • The global phosphates market is anticipated to reach a value of US$ 21,169.7 Mn by the end of the forecast period in 2031.
  • Ammonium phosphate is expected to remain the dominant product type owing to higher agriculture applications accounting for three quarters of the global market through 2031.
  • China is dominant in East Asia with a value share of over 95% through 2031, supported by large scale agriculture and chemicals industries.
  • India will reflect above average growth with a CAGR of 3% through 2021, owing to its position as a leading agrarian economy.
  • Brazil will hold over 50% of the Latin America market through 2031, owing to government incentives towards large-scale agriculture practices.

Phosphates Market: Participant Insights

Key players are focusing on strategic expansions by expanding production capacity in emerging economies by setting up of new production units, collaborations and mergers and acquisitions of other market participants. They are focusing on strengthening of their product portfolio while strengthening distribution networks.

Market participants in the global phosphates market are Nutrien Ltd., The Mosaic Company, YARA International, EuroChem, Prayon SA, Ma’aden-Saudi Arabian Mining Company, PhosAgro, Jordan Phosphates Mines Company (PLC), Aditya Birla Chemicals, Israel Chemicals, KazPhosphates LLC, Sulux Phosphates Limited, Zimbabwe Phosphates Industries Limited, OCP Group, Innophos Holdings, Inc., Chemische Fabrik Budenheim KG, Haifa Chemicals ltd., URALCHEM JSC, Solvay SA, OCI Company Ltd., Cabot Microelectronics Corporation, Asia Union Electronic Chemical Corp., Hubei Xingfa Chemicals Group Co., Ltd., Yichang Municipal Pacific Chemicals Co., Ltd (YMPCC), Sichuan Blue Sword Chemical (Group) Co., Ltd., Foskor (Pty) Ltd., and Industries Chimiques du Senegal.

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Phosphates Market by Category

By Product Type:

  • Ammonium Phosphate
  • Calcium Phosphate
  • Potassium Phosphate
  • Sodium Phosphate
  • Others

By Grade:

  • Food & Feed
  • Pharmaceutical
  • Industrial

By End Use:

  • Agrochemicals
  • Food & Beverages
  • Animal Feed
  • Cleansers & Detergents
  • Pharmaceutical & PC
  • Water Treatment
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia Pacific
  • Middle East
  • 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 10-years.

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Future of Biophotonics Market: Emerging Applications and Opportunities

As per the latest market research conducted by FMI, the global biophotonics market is expected to record a CAGR of 11.3% from 2023 to 2033. In 2023, the market size is projected to reach a valuation of US$ 54,320.0 million. By 2033, the valuation is anticipated to reach US$ 1,58,457.0 million.

Increased product releases and approvals by regulatory agencies to key players in the market are likely to boost market expansion over the forecast period. For instance, a medical technology company called Kleresca announced the introduction of a new rosacea treatment in August 2018. It is founded on the distinct and patented biophotonic technology developed by Kleresca, which makes use of fluorescent light energy to activate the skin’s natural repair processes through photobiomodulation.

On the other hand, as the majority of pharmaceuticals are still covered by patents, only a few selected firms have the ability to benefit from medical solutions. This is one of the main factors that can have an impact on the market expansion of biophotonics. This is anticipated to limit market growth throughout the anticipated time frame.

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The high cost of biophotonics equipment and therapies is anticipated to impede market expansion. Instruments for biophotonics are highly expensive in comparison to substitutes. The expensive cost of biophotonics technology prevents many small and medium-sized organizations and end users from implementing it. Besides that, this might limit the application of biophotonic technology. Hence, the industry’s growth is likely to be constrained by the high cost of biophotonic.

Developments in the Market:

On November 24, 2020, Optics BioPhotonics Group, a company specializing in providing technological solutions in biophotonics, and Jenoptik Light, a company that develops optical technologies and operates globally, announced a partnership to provide a next-generation automated microscope for inline cellular analysis as well as microscopy, illumination systems, and high-performance imaging systems.

Key Takeaways:

  • The biophotonics market recorded a CAGR of 3.4% from 2018 to 2022.
  • China is expected to record a CAGR of 12.4% over the forecast period.
  • The biophotonics market is anticipated to reach a valuation of US$ 54,320.0 million in 2023.
  • Japan is expected to record a CAGR of 22.8% over the forecast period.
  • The biophotonics market is expected to surpass US$ 1,58,457.0 million by 2033.
  • The increasing prevalence of chronic diseases such as cancer, cardiovascular diseases, and diabetes is driving the growth of the market.
  • The biophotonics market is predicted to record a CAGR of 11.3% through 2033.
  • India is expected to record a CAGR of 13.4% over the forecast period.

Competitive Background:

The key players operating in the biophotonics market are investing in mergers and acquisitions in order to gain a significant market share. The manufacturers are also investing in research and development, and are introducing innovative methods to boost production capacity. Product development and market expansion are significant aspects of the biophotonics market. As a result, market participants are likely to have a better overall revenue share in the global biophotonics market.

Significant Market Players:

  • Becton Dickinson & Co
  • Affymetrix Inc
  • Olympus America
  • Andor Technology
  • Hamamatsu Technologies
  • Carl Zeiss

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Biophotonics Market Segments

By Application:

  • See-Through Imaging
  • Microscopy
  • Inside Imaging
  • Spectro Molecular
  • Analytics Sensing
  • Light Therapy
  • Surface Imaging
  • Biosensors

By Technology:

  • In-vivo
  • In-vitro

By End User:

  • Tests and Components
  • Medical Therapeutics
  • Medical Diagnostics
  • Non-Medical Application
  • Tests and Components
  • Medical Therapeutics
  • Medical Diagnostics
  • Non-Medical Application

About Future Market Insights (FMI)

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

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Analyzing the Global Protective Building Materials Market: Regional Trends and Forecasts

Future Market Insights (FMI) recently published a business intelligence report on the global Protective Building Materials market. The study offers an all-inclusive compilation of the historical, current and future prospects of the Protective Building Materials market. The global industry analysis and opportunity assessment report by FMI reveals that the Protective Building Materials market is expected to register healthy growth over the forecast period.

The report offers in-depth analysis on significant trends and growth drivers which are having an impact on the Protective Building Materials market growth. New opportunities and challenges are also thoroughly analyzed to enable market players to make effective future business decisions.

Significant growth of end-use industries, robust product innovations, and a wealth of distribution networks continue to influence growth of the Protective Building Materials market. FMI’s analysts rely on modern-day research methods for the compilation of the Protective Building Materials market report and gather data from a wide range of primary and secondary sources.

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Key Questions Addressed in the Protective Building Materials Market Report

  1. What are headwinds and tailwinds shaping the growth curve of the global Protective Building Materials market?
  2. Which factors will continue to influence growth of the regional Protective Building Materials market?
  3. What are the recent technological developments in the Protective Building Materials market?
  4. What are key challenges and competition threats faced by Protective Building Materials market players?
  5. How will evolving regulatory policies impact the market growth?

Protective Building Materials Market: Competition Assessment

The FMI’s Protective Building Materials market report provides a dashboard view of major players operating in the Protective Building Materials market. Some of the key players are:

BASF SE, Knauf Insulation, Trelleborg AB, Owens Corning, Sika AG, E. I. du Pont de Nemours and Company, etc

With an extensive SWOT analysis, the FMI’s study presents the strengths, weaknesses, growth prospects and challenges of each player. The report also includes important data including the sales strategy, pricing strategy, and marketing strategy adopted by these players in the Protective Building Materials market.

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Protective Building Materials Market: Key Segmentation

By Region

  • North America (U.S., Canada)
  • Latin America (Mexico. Brazil)
  • Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, ASEAN, Australia & New Zealand)
  • Japan
  • Middle East and Africa (GCC Countries, S. Africa, N. Africa)

Comprehensive analysis of the regional markets offers exclusive insights on the market performance across geographies along with relevant graphs, figures, and list of tables.

What value does the Protective Building Materials market study add to our client’s business intelligence needs?

  • Extensive analysis on evolving purchase pattern across different geographies
  • All-inclusive assessment of market segments and sub-segments
  • A comparative analysis of leading players and emerging players in the Protective Building Materials market
  • Reliable information on new product launches, technological advancements, and more
  • Valuable insights on the impact of regulatory framework on the global Protective Building Materials market

About Future Market Insights (FMI)

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

Contact Us:

Future Market Insights Inc.
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Exploring the Role of Fly Ash Bricks in Construction Industry: A Market Overview

Future Market Insights (FMI) recently published a business intelligence report on the global Fly Ash Bricks market. The study offers an all-inclusive compilation of the historical, current and future prospects of the Fly Ash Bricks market.

The report offers in-depth analysis on significant trends and growth drivers which are having an impact on the Fly Ash Bricks market growth. New opportunities and challenges are also thoroughly analyzed to enable market players to make effective future business decisions.

Significant growth of end-use industries, robust product innovations, and a wealth of distribution networks continue to influence growth of the Fly Ash Bricks market. FMI’s analysts rely on modern-day research methods for the compilation of the Fly Ash Bricks market report and gather data from a wide range of primary and secondary sources.

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Key Questions Addressed in the Fly Ash Bricks Market Report

  1. What are headwinds and tailwinds shaping the growth curve of the global Fly Ash Bricks market?
  2. Which factors will continue to influence growth of the regional Fly Ash Bricks market?
  3. What are the recent technological developments in the Fly Ash Bricks market?
  4. What are key challenges and competition threats faced by Fly Ash Bricks market players?
  5. How will evolving regulatory policies impact the market growth?

Fly Ash Bricks Market: Competition Assessment

The FMI’s Fly Ash Bricks market report provides a dashboard view of major players operating in the Fly Ash Bricks market. Some of the key players are:

  • Boral Limited
  • EMEX S.A.B. DE C.V
  • Pavcon
  • Nuvoco Vistas Corp Ltd.
  • LafargeHolcim
  • Jayem Manufacturing Co.
  • MR Enterprises
  • Puzzolana Green Bricks
  • Jebajeyam Brick Company
  • Paul Bricks
  • Pyramid Chemicals (P) Ltd
  • HansonDoha
  • NCL Group

With an extensive SWOT analysis, the FMI’s study presents the strengths, weaknesses, growth prospects and challenges of each player. The report also includes important data including the sales strategy, pricing strategy, and marketing strategy adopted by these players in the Fly Ash Bricks market.

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Fly Ash Bricks Market: Key Segmentation

By Region

  • North America (U.S., Canada)
  • Latin America (Mexico. Brazil)
  • Western Europe (Germany, Italy, France, U.K, Spain)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, ASEAN, Australia & New Zealand)
  • Japan
  • Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

On the basis of product type

  • Class F Fly ash
  • Class C Fly Ash

On the basis of end use sector

  • Infrastructural
  • Industrial
  • Residential

What value does the Fly Ash Bricks market study add to our client’s business intelligence needs?

  • Extensive analysis on evolving purchase pattern across different geographies
  • All-inclusive assessment of market segments and sub-segments
  • A comparative analysis of leading players and emerging players in the Fly Ash Bricks market
  • Reliable information on new product launches, technological advancements, and more
  • Valuable insights on the impact of regulatory framework on the global Fly Ash Bricks market

About Future Market Insights (FMI)

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

Contact Us:

Future Market Insights Inc.
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Non-destructive Testing (NDT) Inspection Services Market – Business Opportunities and Global Forecast to 2030

The global non-destructive testing (NDT) Inspection services market is experiencing a spike in revenues as various end users are investing making their methods safe for workers and consumers. Primarily used to identify defects, faults, and cracks, the NDT inspection services play an important role in industries that use machinery for automation. Constant checks ensure evaluation of safety to keep the processes up and running.

In the coming years, the growing investments in railroads, aerospace industry, art market, and healthcare sector is expected to fuel market growth. The market is expected to see a high demand for ultrasonic testing, as it is easy to use, portable, and offer precise results in quick turnaround time.

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The market is also expected to be driven by the aging infrastructure that requires constant upgradation to ensure safety. Detection of instabilities and component failures help in implementing preemptive measures, reducing downtime and cost due to delays.

Advancements in radiographic testing equipment with industrial CT scanners has also emerged as strengthening trend in the global market. Future Market Insights predicts that the global NDT Inspection Services market will reach a valuation of over US$ 28 Bn by the end 2030.

Key Takeaways from Global NDT Services Market Study

  • Asia Pacific to emerge as the leading regional segment as power plants and manufacturing activities are slated to surge in forecast period
  • Ultrasound to occupy sizeable chunk in the market as it remains widely used equipment for assessing dysfunctionalities
  • Oil and gas sector to employ NDT inspection services at a growing rate to avoid spillage, leaks, and other accidents
  • Government initiatives such as “Make in India”, “Industry 4.0”, and “National Infrastructural Plan” to boost market growth in coming years

Manufacturing Sector to Lead the Way for Global NDT Inspection Services

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The manufacturing sector is expected to grow at an unprecedented pace across regions being a major contributor to global economy. This sector is expected to register a CAGR of more than 6% between 2020 and 2030. As more and more number of manufacturers are trying to automate tasks, they are likely to require testing methods to identify faults in machinery and equipment. Thus, between 2020 and 2030, the NDT inspection services are likely to see extensive application in the manufacturing sector.

The rise of automotive, aerospace, defense, electrical and electronics manufacturing, especially in India and China are expected to boost the uptake of NDT inspection services. Furthermore, stringent laws pertaining to the worker safety across developed nations is also anticipated to lead to a revenue generation for NDT inspection services in the near future.

COVID-19 Impact on NDT Services Market

The manufacturing sector has been terribly hit by the COVID-19 pandemic. Brining the economies to halt and disrupting the supply chains, the pandemic has also prevented manufacturing activities. Stringent norms of social distancing to prevent infections have resulted in reduced manufacturing activities.

Labor migration back to villages, especially in a country like India, has affected the manufacturing activity beyond measure. Furthermore, plummeting consumption as consumers get cost conscious spending and chances of infection via deliveries, it has addled the manufacturing issues. In the light of this, the NDT inspection services market is expected to suffer as third-party vendors stand to lose their contract renewals.

More Valuable Insights on Global NDT Services Market

FMI’s research on the global NDT inspection services market is segmented into four major segments. To begin the market for global NDT inspection services is segmented into offering type, which includes NDT Inspection Services and equipment. On the basis of test method, the market is segmented into visual testing, magnetic particle testing, liquid penetrant testing, Eddy current testing, ultrasonic testing, and radiographic testing.

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 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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Agricultural Equipment Market Future Scenarios, Growth and Analytical Insights – 2032

ESOMAR-certified consulting firm Future Market Insights (FMI) in its latest report forecasts that the global agricultural equipment market will register a CAGR of 4.8% between 2022 and 2032, reaching a market volume of around US$ 108.86 Billion by 2032 end.

Agriculture is the primary source of livelihood for about 58% of India’s population. In order to address the rising food demand and promote use of advanced farm machinery, government of India has introduced various schemes. For instance, Rastriya Krishi Vikas Yojana (RKVY) was introduced to provide 100% subsidy. The scheme was aimed to assist the advancement of the farming sector.

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The agriculture industry is under constant pressure to address the food security issue. Farmers across the world are employing various equipment to increase food production. These machines minimize the manual labor and reduce turnaround time.

Growing popularity of precision farming is augmenting the demand for modern agricultural equipment. With the integration of artificial intelligence (AI) and internet of things (IoT), the sales of agriculture equipment are soaring. Smart farming is gaining traction. Introduction of electric agricultural equipment has completely changed the market scenario. These equipment does not only minimize the emissions but also reduce costs and improve efficiency.

New trends of agricultural robotics and driverless machines are attracting large number of farmers to upgrade their equipment systems. As per FMI, the agricultural equipment market will surpass a valuation of US 65 Billion by 2021 end.

Key Takeaways from FMI’s Agricultural Equipment Market Study

  • Europe dominates the ground support equipment market as a result of increasing agricultural mechanization and presence of leading manufacturers. The market in the region is set to register steady growth at 4.8% CAGR between 2022 and 2032.
  • The U.S. is expected to register a strong CAGR during the forecast period as a result of rapid technological advancements and availability of equipment leasing.
  • With implementation of favorable governmental policies, China is anticipated to emerge as the leading market for agricultural equipment.
  • Top 5 players operating in agricultural equipment market collectively account for 44% market share.
  • By product type, tractors dominate the agricultural equipment market with their multipurpose nature.

Competitive Landscape

Key players operating in agricultural equipment market are investing heavily on research and development activities. They are adopting various organic and inorganic growth strategies such as mergers and acquisitions, advanced product development and collaborations to gain a competitive edge in the market. For instance.

In August 2021, Precision Planting, LLC a subsidiary of AGCO Corporation announced an agreement to acquire the business and assets of Headsight, Inc., a leading precision agriculture harvesting solution company. The acquisition will help the company to offer farmers a range of industry-leading precision ag technologies across the crop cycle that will help them to maximize their value and output while minimizing inputs and impact.

In 2021, XAG Co., Ltd. Launched XAG R150, a jet sprayer system to pollinate fruit trees. A specially mixed solution of pollen is poured into the R150’s liquid tank before it is sent on a predetermined route around an orchard to spray pollen.

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Key Segments Covered in the Agricultural Equipment Industry Analysis

Agricultural Equipment Market by Product Type:

  • Tractors
  • Rotavators
    • Wheel Type
    • Crawler Type
  • Threshers & Dehuskers
    • Wheel Type
    • Crawler Type
  • Power Tillers
    • Wheel Type
    • Crawler Type
  • Power Weeder
    • Wheel Type
    • Crawler Type
  • Plough
  • Baler
  • Seed Drill

Agricultural Equipment Market by Category:

  • Tractor Pulled / Attachment
  • Self-Propelled

Agricultural Equipment Market by Ownership:

  • Individual
  • Rental

Agricultural Equipment Market by Region:

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

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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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Expansion Valves Market is anticipated to touch a value of nearly US$ 17.4 Billion in the year 2033

According to Future Market Insights (FMI), the expansion valve market will report a 4.0% CAGR through 2021-2031 as demand grows in residential, automotive, commercial, and other sectors.

According to the latest FMI insights, global sales of growth valves will be valued at more than US$10.7 billion in 2021, with a consistent long-term forecast. The market is also expected to exceed US$15.9 billion by the end of 2031, according to the report.

According to Future Market Insights, one of the primary factors driving demand for expansion valves is the increasing use of air conditioning in the automotive sector. Nowadays, every vehicle, particularly passenger vehicles, has an air conditioning system. This is the primary driving force behind the expansion valves market.

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Due to the COVID-19 pandemic, the expansion valves market saw a moderate decline in sales volume in FY2020. Demand from major end-use sectors such as automotive, construction, and others was high because distribution links between manufacturers and consumers were disrupted, and operations in manufacturing facilities were halted due to government-enforced lockdown. However, the economies began to recover from the pandemic’s impact in the fourth quarter of 2020.

Electronic expansion valve demand is expected to skyrocket in the coming years. Electronic expansion valves are more user-friendly and energy-efficient, making them more popular among end users.

The expanding demand for air conditioning applications in the automotive, commercial, residential, and industrial sectors is expected to drive the expansion valves market.

Key takeaways from expansion valves market study

  • By application, expansion valves application for air conditioning is projected to hold over 60% volume share of the global market in 2021.
  • In terms of product type, the thermal expansion valves segment will hold over 69.1% of the market share by the end of the forecast period.
  • East Asia will remain a primary market, backed by rising demand from the automotive & residential sectors. It is expected to account for over 36.6% of the demand registered in the global market in 2021.
  • By working pressure, demand for up to 30 bar segments of expansion valves will surge at a CAGR of approximately 4.1% over the coming decade.
  • By installation, sales of expansion valves are expected to reach US$14.1 billion in 2031.

“The increase in per capita income and rising expenditure on advanced heating, ventilation, and air conditioning systems will fuel the demand for expansion valves,” says a Future Market Insights analyst.

2016-2020 Expansion Valves Market Outlook Compared to 2021 to 2031 Forecast

Driven by increasing focus on research and development and rising spending on the installation of (heating, ventilation, and air conditioning) HVAC systems, the expansion valves market will rise at 4.0% CAGR between 2021 and 2031 in the comparison to 3.7% CAGR registered during 2016-2020.

The automotive industry is exhibiting high demand for electronic expansion valves as the demand from customers for advanced air conditioning systems increases. Besides this, because of increasing fuel prices and various ongoing initiatives by local governments for the development of electric vehicles, prospects for sales of expansion valves have improved.

Some of the leading expansion valve manufacturers are looking to provide innovative products in the market. This has resulted in the launch of the automatic expansion valve for installation in the residential sector.

Automatic expansion valves are widely used in chillers, water coolers, refrigerants, and other applications.

The growth of the market is also directly connected with the scope for application in the construction sector, since the installation of HVAC systems is a basic need for the construction of any new building, whether it is for residential or commercial use.

In the recent past, there has been a significant expansion of retail stores and cold chain capacities. Many countries across the globe, especially China and India, are strengthening their cold chain infrastructure intending to reduce food wastage and meet the growing demand. This has resulted in high demand for refrigeration requirements, thus increasing the demand for the expansion valves.

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Who is winning?

The expansion valves market is merged moderately with key players, accounting for around over 50% of the market share. These players are likely to invest in new technology developments and expansion of their distribution networks to maintain their market presence.

Some of the leading players in this industry include but are not limited to Emerson electric co, SANHUA,fujikoki corporation, otto Egelhoff gmbh & co. Kg, Castel s.r.l., the co., ltd., Keihin, carel industries s.p.a., Danfoss group, Parker-Hannifin Corporation, Denso, Hanon systems.

Expansion Valves Market by Category

By Product Types:

  • Thermal Expansion Valves
  • Electronic Expansion Valves

By Application:

  • Air Conditioning
  • Refrigeration

By Installation:

  • New Sales
  • Retrofit

By Type:

  • Automotive
    • OEM
    • Aftermarket
  • Industrial Facilities
  • Commercial Buildings
  • Retail Outlets and Warehousing
  • Residential

By Material Type:

  • Stainless Steel
  • Copper
  • Brass
  • Others

By Refrigerants:

  • R410A
  • R407C
  • R404A
  • R134A
  • R290
  • R744
  • R22
  • CO2
  • Glycol Water
  • R1234YF

By Working Pressure:

  • up to 30 bar
  • 30 to 50 bar
  • 50 to 200 bar

By Region:

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

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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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Condition Monitoring Service Market Comprehensive Research Study and Strong Growth in Future 2031

The global demand for condition monitoring services is projected to surpass the valuation of US$ 6.79 Billion by 2031 end. As suggested by a new Future Market Insights (FMI) report, substantial growth in the condition monitoring service market is mainly backed by the growth of the power generation industry, which holds a prominent share of the overall market value, closely followed by the chemical and petrochemical industries.

Increasing urbanization and rapid industrialization are creating massive opportunities for key market players in the automotive & transportation industry, thereby bolstering the adoption of condition monitoring services in global market. On the flip side, the current global coronavirus pandemic is expected to cost global economy about US$ 1 Tn in 2022, as per the UN Conference on Trade and Development.

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The automotive, logistics, and petrochemicals industries, in particular, are well within the radar of the potential impact of the virus.  Several business executives have halted their manufacturing operations, given the large-scale lockdowns in majority of countries. As the COVID-19 pandemic spreads, condition monitoring services would see a notable decline in their adoption.

Key Takeaways of Condition Monitoring Service Market Study

  • According to our research, the portable machine diagnostic segment is shaping the revenue pool of the condition monitoring service market as the portable equipment is used to analyze data from the sensors, saving time of operation.
  • In current scenario, integration of condition monitoring software with computerized maintenance management services & process control software is an emerging trend in the global condition monitoring service market.
  • North America is a prominent market for condition monitoring services and is expected to continue its hegemony, owing to its strong industrial growth and high adoption of the services in the region.
  • In the global condition monitoring service market, over 55% of the revenue comes through vibration analysis and oil analysis segments. Rising focus on maintenance in order to minimize the asset downtime is fueling the deployment of both the techniques.

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Competition Landscape Analysis

The global condition monitoring service market is slightly competitive, with the presence of moderate number of local and global manufacturers. Key manufacturers such as SKF, Fuji Electric, Siemens AG, ABB, Honeywell International Inc., Meggit PLC, General Electric, and Parker Hannifin Corp. account for nearly half of the share of the overall market. Manufacturers are focusing on strengthening their product portfolio by launching advanced condition monitoring services and collaborating with end users.

South Asia Represents Potential Growth Avenues

The demand for condition monitoring services is expected to gain traction in South Asia in the coming years, owing to increasing investments in power generation, and petrochemical industries. Governments in countries such as India, and Indonesia are encouraging private sector players to minimize the deficit in power in order to fulfill maximum power requirements. This, in turn, is underpinning the condition monitoring service market in the region.

More About the Report

The research report analyzes the total sales of condition monitoring services on the basis of volume (units) and value (US$ Mn). The condition monitoring service market is projected on the basis of factors such global energy consumption, oil & gas industry outlook, wind energy installed capacity, hydropower installed capacity, and natural gas production and consumption in various regions. Also, the report includes a competition analysis section that includes tier structure analysis, market structure analysis, competition development, and other crucial information of condition monitoring service providers.

Condition Monitoring Service Market by Category

By Technique:

  • Vibration Analysis
  • Corrosion Monitoring
  • Infrared Thermography
  • Ultrasound Testing
  • Motor Condition Monitoring
  • Oil Analysis

By Operation:

  • Route Based Monitoring
  • Portable Machine Diagnostics
  • Online Machine Monitoring
  • Online Machine Protection
  • Factory Assurance Test

By End Use Industry:

  • Oil & Gas
  • Power Generation
  • Aerospace & Defense
  • Automotive & Transportation
  • Marine
  • Mining & Metal
  • Food & Beverage
  • Chemical & Petrochemical

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA

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Magnetic Separator Market is anticipated to touch a value of nearly US$ 1.7 Billion in the year 2029

In 2022, the market for magnetic separators market is anticipated to grow to US$ 1.3 billion. The demand in the market is being driven by an increase in the use of magnetic separators to remove undesirable particles during the metal recycling processes across numerous industries. This will cause the market valuation to rise to US$ 1.7 billion in 2029.

Over the forecast period of 2022-2029, sales in the global magnetic separator market are expected to increase at a CAGR of 3.8%. According to Future Market Insights (FMI), in 2022, sales of magnetic separators will be accounted for by nearly 22.5% of the market in East Asia.

Magnetic separator is a type of separation and sorting equipment, mainly used for separating magnetic minerals mixed in non-magnetic minerals such as removal of metallic and ferrous materials from a mixture with the help of magnetic force.

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Magnetic separators have significant applications in metal and mineral mining industry, recycling industry, food and beverages processing industry, chemical industry, steel industry, foundry industry, plastic industry, cement industry, water, and wastewater treatment, among others.

Oceania Emerging as a High Potential Storehouse of Opportunities

In the past five years, the Oceania region witnessed substantial growth in mineral production. In 2012, the Oceania region accounted for a share of 5.1% in the global mineral production, while in 2017, the Oceania region accounted for a share of more than 7.0%. Increasing mineral production in the region is expected to increase the demand for mineral sorting and separation equipment. Consequently, increasing the demand for magnetic separators.

The rising number of metallic contamination incidents in several food and beverage products have triggered a great demand for enhanced safety. Government authorities have formed several regulations to improve the operational safety and thus, there has been a greater demand for high performance magnetic separators in the food and beverages processing industry.

The East Asia market is expected to dominate the global magnetic separator market, owing to its relatively large consumption for separation and sorting equipment in mining and other industries. North America and Europe magnetic separator markets are expected to experience modest growth, owing to being mature magnetic separator markets.

Countries/regions such as Australia, Japan, India, Brazil, and ASEAN being at the forefront in the mining industry are expected to generate significant opportunities in the global magnetic separator market. Significant growth in demand for magnetic separators is also anticipated to be witnessed in countries of Middle East and Africa, owing to substantial requirement for separation and sorting equipment such as magnetic separators in mining, chemicals, cement, steel, and other industries.

Influx of Application Opportunities in ‘Recycling’ to Favor Demand Growth

On the basis of intensity type, the high gradient segment is foreseen to experience substantial growth in the magnetic separator market. However, owing to its low cost and high demand, the low intensity type magnetic separator segment is expected to account for a prominent volume share in the global magnetic separator market. On the basis of product type, pulley separator sales are expected to witness a growth of approx. 4.0 percent during the forecast period, which is mostly driven by its increasing applications in several industries with the primary intention of preventing metallic contamination.

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By material type, dry type magnetic separator is considered more into demand among the customers. The segment is expected to account for more than two third of the total market during the forecast period. By cleaning type, self-cleaning magnetic separator is considered more into demand among customers. The segment is expected to account for more than two third of the total market during the forecast period. On the basis of end-use industry, owing to increasing concern towards recycling of waste, scrap metal, and other materials, the recycling end-use industry segment is expected to project maximum growth during the forecast period.

Some of the key manufacturers involved in the magnetic separator market are Eriez Manufacturing Co, Nippon Magnetics, Inc., LONGi Magnet Co., Ltd, Metso Corporation, Outotec Oyj, Noritake Co., Limited, A AND A MAGNETICS, INC, SLon Magnetic Separator Ltd., KANETEC CO.,LTD., Shandong Huate Magnet Technology Co., Ltd, Douglas Manufacturing Co., and Inc., among others.

Magnetic Separator Market by Category

Product:

  • Magnetic Drum Separator
  • Magnetic Roller Separator
  • Over band/Cross Belt Separator
  • Magnetic Pulley Separator
  • Coolant Separator

Intensity:

  • Low Intensity
  • High Intensity
  • High Gradient

Material Type:

  • Wet Type
  • Dry Type

Cleaning Type:

  • Self-Cleaning
  • Manual Cleaning

End-Use Industry:

  • Recycling
  • Processing Industries
  • Metal & Mineral Mining

Region:

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

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 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
Browse All Reports: https://www.futuremarketinsights.com/reports