Market Research Blog – Page 8 – New Product Development

Global Process Instrumentation Market Size Estimated to Surpass USD 37.34 Billion Mark by 2033, Growing at 7.3% CAGR

The global process instrumentation market is set for significant growth, with a projected valuation of USD 37.34 billion by 2033. This expansion is anticipated to occur at a robust Compound Annual Growth Rate (CAGR) of 7.3% from a market size of USD 18.46 billion in 2023.

Several key end-use industries are driving this growth. Chemicals, pharmaceuticals, water/wastewater treatment, oil & gas, and power generation all heavily rely on process instrumentation to improve efficiency, productivity, and safety. This reliance translates into substantial demand for advanced instrumentation solutions across these sectors.

Insights into Process Instrumentation Market Growth and Regional Leadership:

Anticipating an impressive 7.3% Compound Annual Growth Rate (CAGR), the process instrumentation market is set to achieve a valuation of USD 37.34 billion by 2033.
The market demonstrated remarkable growth in the past, with a substantial valuation of USD 12.98 billion in 2018, underscoring its robust trajectory.
Leading the global market, the United States is projected to attain a CAGR of 6.1% by 2033, affirming its pivotal role in shaping industry progress.
The United Kingdom is notably establishing a significant presence, showcasing vigorous growth with a forecasted CAGR of 6.4%.
With a substantial market share of 6.7%, Japan is expected to wield considerable influence over the global market throughout the forecast period.

Elevating Product Offerings: Strategies Implemented by Key Industry Players Prominent industry players are consistently advancing their products through strategic approaches such as:

Research and Development Initiatives: Substantial resources are dedicated to research and development, aiming to enhance efficiency, precision, and reliability. By incorporating advanced features like data analytics, wireless connectivity, and artificial intelligence, they deliver improved performance.
Collaborative Efforts: Collaborations with research institutions yield innovative products that leverage cutting-edge technologies. Harnessing research specialists’ expertise fosters product development driven by state-of-the-art insights.
Customer-Centric Approach: Key players engage with customers to understand preferences and needs, leading to tailored and innovative products. Continuous enhancements based on valuable feedback ensure consistent customer satisfaction.
Quality Assurance: A commitment to quality underpins major players’ reputation. Adhering to compliance standards and obtaining certifications instills trust and brand loyalty among customers.

These strategic endeavors perpetuate innovation, enabling key players to maintain their competitive edge while delivering exceptional value to customers.

Key Players Profiled:

Siemens AG
Yokogawa Electric Corporation
Emerson Electric Co.
ABB Ltd
General Electric SE
Honeywell International Inc
Rockwell Automation Inc
Danaher Corporation
Brooks Instrument LLC
Fuji Electric Co, Ltd
Vega Grieshaber KG
WIKA Alexander Wiegand SE & Co. KG
Azbil Corporation
Krohne Messtechnik GmbH
Badger Meter, Inc

Browse More! https://www.accesswire.com/762017/process-instrumentation-market-is-estimated-to-cross-a-worth-us-373-billion-by-capturing-cagr-of-73-during-forecast-2023-to-2033-future-market-insights-inc

Recent Developments in the Global Market:

In 2021, Honeywell International Inc. announced its newly launched product LX+ Distributed Control System to improve security and operate effectively to process plants for small industries.
In 2021, Yokogawa Electric Corporation announced its newly launched product TDLS8100.
In 2021, Schneider Electric SE announced its newly launched product EcoStruxure. It controls industrial automation systems with collaborative engineering.
In 2021, Emerson Electric Co. announced its acquisition of 3D spatial intelligence technology. This acquisition took place to offer digital transformation and autonomous operations.
In 2021, Siemens AG announced its collaboration with Google Cloud. This collaboration took place to develop artificial intelligence solutions to reduce emissions and optimize energy in manufacturing.

Market by Categorization:

By Type:

Control Valve
Temperature
Level
Flow
Pressure

By Application:

Oil & Gas
Chemical
Agriculture
Petroleum
Power Generation
Others

By Region:

North America
Europe
Latin America
Asia Pacific
Middle East Africa

Access Report Details for More In-Depth Information!

Author:

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

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

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Cylindrical Grinders Market Forecasted to be Values at USD 4.8 Billion by 2033, Growing Steadily at 4.8% CAGR | FMI Study

The global Cylindrical Grinders Market is poised for substantial growth, with a projected value of USD 3.0 billion by the year 2023. Over the following decade, from 2023 to 2033, the demand for cylindrical grinders is forecasted to witness a steady ascent, with sales expected to surge at a compound annual growth rate (CAGR) of 4.8%. By the conclusion of 2033, the total market valuation is anticipated to soar to USD 4.8 billion.

Cylindrical grinders are indispensable tools used for shaping the exterior of various objects. These versatile machines can accommodate a diverse range of shapes, provided the objects possess a central axis of rotation.

The applications of cylindrical grinders span across multiple industries, including automotive, aerospace, and military sectors. The versatility and precision offered by these machines have led to a wave of advancements and innovations across various domains.

Current Trends:

As automation continues to revolutionize the manufacturing sector, cylindrical grinders are rapidly embracing this trend.

Manufacturing companies are embracing robotic automation and advanced technologies, integrating them seamlessly into their cylindrical grinders. By doing so, they aim to enhance operational efficiency while simultaneously curbing labor costs, thereby driving a notable increase in the market share of cylindrical grinders.

The advent of the Internet of Things (IoT) and the principles of Industry 4.0 are catalysts for the widespread adoption of interconnected machinery and intelligent manufacturing facilities.

Cylindrical grinders are undergoing a transformation with the incorporation of sensors and sophisticated software, facilitating real-time monitoring and predictive maintenance. This shift not only optimizes efficiency but also minimizes downtime, presenting manufacturers with fresh avenues for growth.

Consumer preferences are evolving towards personalized solutions, prompting a surge in demand for customized cylindrical grinders tailored to specific requirements. Companies that can offer adaptable and customizable solutions will stand out in the market, appealing to a broader spectrum of clientele.

Key Players:

AZ spa
BEIER Machine Tool WORKS
Doimak
Ecotech Machinery
Ewag AG
Gleason
Gioria s.p.a
KAPP
Knuth Machine Tools

Recent Developments:

In the realm of precision engineering, AZ Spa unveiled an array of cutting-edge cylindrical grinding machines in 2021, engineered to achieve exceptionally tight tolerances during the grinding process. These state-of-the-art machines find applications across diverse sectors such as aerospace, automotive, and medical, where precision is paramount.

Building upon their success, AZ Spa took a significant leap forward in 2022 by integrating advanced automation and flexibility functionalities into their cylindrical grinding machines. This strategic enhancement enables seamless customization to cater to individual customer requirements while simultaneously streamlining setup procedures and bolstering productivity levels.

Cylindrical Grinders Market Segmentation:

By Type:

CNC
Manually-Controlled
PLC-Controlled

By Application:

Metal
Glass
Granite
Wood
Others

By Region:

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

Access Report Details for More In-Depth Information!

Author:

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

About Future Market Insights (FMI)

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

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FMI Study Indicates Global Flow Meters Market Share to Surge Past USD 13.2 Billion by 2033, Growing Steadily at 5% CAGR

The global flow meters market revenue is anticipated to reach USD 13.2 billion by 2033, up from USD 8.1 billion in 2023. Future Market Insights is estimated to secure a CAGR of 5.0% for the market between 2023 and 2033.

Flow meters are used in a wide range of industries, including oil and gas, water and wastewater, chemical, and pharmaceuticals, among others. The market expansion is anticipated to be fueled by the rising demand from these industries. Flow meters are the ideal instrument for precise flow calibration equipment needed in industrial activities. The rising industrial production is projected to support market growth.

The development of shale gas reserves is expected to increase demand for flow meters in the oil and gas industry. Flow meters can monitor the speed of operations upstream and downstream, coupled with liquid hydrocarbons in the sector. Maintaining industrial processes at a high standard requires accurate monitoring of liquid and gas flow rates.

Industrial control loops often adjust incoming liquid or gas flow rates, making precise flow rate monitoring essential. Flow meters are crucial instruments for measuring the mass flow rates of liquids, gases, or mixtures of both. The type of flow meter selected depends on the level of precision required and the intended industry use. Due to the benefits they offer, flow meters have been made mandatory by governments all over the world.

In the upcoming years, many intelligent systems are anticipated to be in demand. The advantages of flow meters in process industries are anticipated to be further enhanced by these systems.

The demand for flow meters in the water and wastewater sector is anticipated to be driven by the need for effective water management and conservation. In this industry, the implementation of flow meters aids in the precise measurement and oversight of water usage, hence decreasing wastage.

Magnetic and ultrasonic flow meters are two typical non-invasive flow monitoring methods. They are preferred since they do not cause disruptions. They also require little to no maintenance. This trend is expected to drive the demand for non-invasive flow meters.

Given the different technological developments, the market is anticipated to expand throughout the forecast period. Technology breakthroughs are occurring in several fields, including wireless monitoring and control, advanced sensors, and digital readouts.

Manufacturers are increasingly adopting Internet of Things sensors for smart metering solutions. The cutting-edge IoT method enables remote, automated data collection through automatic meter reading. The incorporation of these technological advancements in products is expected to lead to significant market expansion.

Key Takeaways

The flow meters market in the United States is expected to upsurge at 3.9% CAGR during the forecast period.
The market in China is expected to thrive considerably, registering a CAGR of 5.9% from 2023 to 2033.
With a CAGR of 4.5% over the forecast period, the market in Japan is predicted to develop notably.
The market in South Korea is predicted to expand significantly between 2023 and 2033, reaching a CAGR of 5.4%.
The flow meters industry in the United Kingdom is anticipated to rise significantly, exhibiting a CAGR of 4.2% through 2033.

Competitive Landscape:

Several key players in the flow meters market are making significant investments in research and development to create new and inventive goods. Through partnerships and acquisitions, they are also broadening their product offerings. The purpose of these products is to meet the evolving demands of the end user. Companies are also adopting advanced technologies to improve the efficiency and accuracy of their flow metering solutions.

Recent Developments:

In June 2020, ABB launched the Sensyflow FMT700-P Compact, which is a thermal mass flow meter. It is specifically designed for testing hydrogen fuel cells, as well as various components such as turbochargers, throttle valves, air filters, and intake fans.
Siemens Digital Industries presented the SITRANS FS230 clamp-on ultrasonic flow meter in February 2020. This flow meter has advanced capabilities for measuring gas flow. It can handle various types of gas and fluid flow applications, including natural, specialized, and system gases.

Key Players:

Emerson Electric Co.
Honeywell International Inc.
Siemens Group
ABB Ltd.
Yokogawa Electric Corporation
Krohne Messtechnik GmbH

Flow Meters Market Segmentation:

By Type:

Differential Pressure
Positive Displacement
Ultrasonic
Turbine
Magnetic
Coriolis
Vortex
Others

By End-use Industry:

Water & Wastewater
Refining & Petrochemical
Oil & Gas
Chemical
Power Generation
Pulp & Paper
Food & Beverage
Pharmaceutical
Metals & Mining
Others

By Region:

North America
Latin America
Europe
Asia Pacific
The Middle East and Africa(MEA)

Access Report Details for More In-Depth Information!

Author:

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

About Future Market Insights (FMI)

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

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Global Fire Sprinkler System Market Revenue Share to Exceed USD 22,695.8 Million by 2033, Driven by 5.9% CAGR Growth

The global market for fire sprinkler systems is expected to reach USD 12,973.4 million USD in 2023. The market is expected to be valued at USD 22,695.8 million by 2033, growing at a CAGR of 5.9%.

The market has grown in prominence as the residential and commercial construction sectors have expanded. This tendency is expected to drive up demand for fire sprinkler systems. Another element driving global fire sprinkler system adoption is the development of stringent requirements for building installation. Governments from various countries are working on this.

The primary issues preventing the industry from expanding are the expensive cost of upgrading fire sprinklers in already-existing structures, and the lack of integrity in system interfaces.

Profitable Market Opportunity:

The products put in the building that are standardized and designed to detect the onset of a fire are the fire protection system. A smoke detector and other devices are used by the system to find and put out the fire. Real-time data is detected and tracked by the fire protection systems. The fire sprinkler system industry is going to see new opportunities through the incorporation of cutting-edge technology like AI and the IoT.

Key Takeaways:

By 2033, the fire sprinkler system market in the United Kingdom is likely to expand, with a CAGR of 3.8%.
In 2023, the United States is likely to dominate the fire sprinkler system sector, with a share of 21.8%.
The fire sprinkler system market was significantly expanding, with a size of USD 12,046.5 million in 2022.
By 2033, the fire sprinkler system industry in China is likely to expand, with a CAGR of 6.5%.
In 2023, Australia projected to expand in the fire sprinkler system business, with an expected share of 1.3%.
The market is expected to grow at a USD 15,194.04 million valuation by 2026, with rising technologies like smart sensors.
By 2033, India is projected to expand significantly in the fire sprinkler system sector, with a share of 7.1%.
Japan’s fire sprinkler system market share is likely to expand significantly, with a 6.2% share in 2023.
In 2023, the commercial segment is expected to dominate the market with a leading share of 42.1%. It is anticipated to control the market by 2033 in terms of application.
Based on product type, wet fire sprinkler systems are expected to dominate the market with a share of 29% in 2023.

Effective Approaches by Key Players:

Manufacturers of fire sprinkler systems strive to build strong distribution networks that can efficiently reach potential clients. To do this, they are collaborating with wholesalers and distributors, who help them market their products and services to customers.

Recent Developments:

For fire sprinkler systems, Johnson Controls produced TYCO corrosion control solutions. The product helps wet and dry fire sprinkler systems last longer. Additionally, it has an in-line detector that monitors the system and transmits corrosion early warning signals.
Plumis Inc., a firm established in the United States, provides the “Automist Smartscan Hydra” smart fire sprinkler system. This system consumes 90% less water than traditional fire sprinkler systems.

Key Players:

Johnson Controls International
Robert Bosch GmbH
McWane, Inc.
Siemens Industry Software Inc.
Honeywell International Inc
Kauffman Co.
Agni Devices Pvt. Ltd
Emerson Electric Co.
Tokyo Hochiki Co., Ltd.
Eaton Corporation plc
Globe Fire Sprinkler Corp.

Key Segments Profiled:

By Product:

Wet pipe Sprinkler Systems
Dry pipe Sprinkler Systems
Clean Agent System
Deluge Sprinkler Systems
Water-mist Systems
Pre-action Sprinkler Systems
Standpipe System

By Response Time:

Standard
Quick

By Hazard:

Light
Ordinary
Extra

By Technology:

Control-mode specific application sprinkler (CMSA)
Early-suppression fast-response sprinklers (ESFR)
control-mode density area sprinklers (CMDA)
In-rack fire sprinklers

By Application:

Residential
Industrial
Commercial
Government and Institutional
Others

By Region:

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

Access Report Details for More In-Depth Information!

Author:

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

About Future Market Insights (FMI)

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:

FMI Analysis Indicates Global Selective Laser Sintering Equipment Market Size to Hit USD 4.2 Billion by 2033, Driven by 18.6% CAGR

The global selective laser sintering (SLS) equipment market revenue is anticipated to reach USD 4.2 billion by 2033, up from USD 765 million in 2023. Future Market Insight estimated a remarkable CAGR of 18.6% for the market between 2023 and 2033.

SSLS 3D printing technology is capable of producing complex and customized products with unparalleled accuracy and precision. The demand for customized and complex parts is increasing across various industries. More effective and affordable SLS equipment has been developed as a result of the ongoing developments in additive manufacturing. SLS equipment is also deployed to produce medical implants and prosthetics. These factors are driving the SLS equipment market growth.

SLS technology is a sustainable and eco-friendly manufacturing process. Given the increasing focus on sustainability in various industries, this technology is gaining popularity. SLS equipment is also utilized for the production of functional parts, rather than just prototyping. Metal-based SLS printing is gaining popularity for high-performance applications. This type of SLS equipment has the ability to produce parts with high strength and durability.

The high initial investment required for setting up SLS equipment could be a barrier for small and medium-sized enterprises. The limited availability of raw materials for SLS printing could result in supply chain disruptions. Moreover, there is a shortage of skilled workforce with expertise in SLS equipment. These factors could affect the adoption of SLS 3D printers.

The market is projected to witness several growth prospects. The development of new and innovative SLS materials is likely to expand the SLS equipment applications in various industries. The integration of SLS technology with Industry 4.0 technologies is also expected to improve production efficiency and enable smart manufacturing. Furthermore, the education and research sectors are anticipated to witness a growing demand for SLS equipment for research and development.

Key Takeaways

The SLS equipment market in the United Kingdom is anticipated to rise profitably, exhibiting a CAGR of 17.6% through 2033.
The market in the United States is expected to upsurge at 17.3% CAGR during the forecast period.
With a CAGR of 17.9% over the forecast period, the market in Japan is predicted to develop rapidly.
The market in China is expected to proliferate significantly, registering a CAGR of 19.6% from 2023 to 2033.
South Korea is estimated to grow considerably registering a CAGR of 19% until 2033.

Competitive Landscape

Selective laser sintering equipment market players are investing in research and development to improve the efficiency of SLS equipment. They are also expanding their product portfolios and global footprint through strategic partnerships and acquisitions. They are also focusing on offering customized solutions to meet specific customer requirements. Since the demand for 3D printing is increasing in various industries, they are offering cost-effective and innovative solutions to attain a competitive edge.

Browse More! https://www.globenewswire.com/news-release/2023/05/04/2661381/0/en/Selective-Laser-Sintering-Equipment-Market-Projected-to-Reach-Over-US-4-2-Billion-by-2033-with-a-Remarkable-CAGR-of-18-6-Future-Market-Insights-Inc.html

Key Players:

3D Systems Corporation
EOS GmbH
Farsoon Technologies
Prodways Group
Formlabs, Inc

Recent Developments

In order to improve the development of materials for additive manufacturing, 3D Systems, and EMS GRILTECH announced their strategic alliance in June 2022. Both businesses are going to introduce a brand-new nylon copolymer called DuraForm PAx Natural, which can be utilized with any SLS printer on the market.
Prodways Tech introduced the ProMaker P1000 S, a new industrial SLS 3D printer. The ProMaker P1000 S 3D printer, which is based on Selective Laser Sintering technology (SLS®), offers inexpensive series manufacturing while addressing the demands of industrial production.

Selective Laser Sintering Equipment Market Segmentation:

By Laser Type:

Solid Laser
Gas Laser

By Material:

Metal
Nylon

By Application:

Tooling
Heavy Equipment & Machinery
Robotics

By Industry:

Automotive
Aerospace & Aeronautics
Consumer Goods
Machinery & Equipment
Art and Fashion
Medical Devices
Others

By Region:

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

Access Report Details for More In-Depth Information!

Author:

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

About Future Market Insights (FMI)

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:

Global Transformer Tap Changers and Voltage Control Relay Market to Hit USD 2357.1 Million Revenue by 2033, Surging at 4.9% CAGR

The market for transformer tap changers and voltage control relays is anticipated to be worth more than USD 2357.1 Million by 2033. It is predicted to increase by 4.9% yearly.

Over the course of the projection period, sales of transformer tap changers and voltage control relays are expected to grow at a respectable CAGR of 4.9%. The market is predicted to reach its peak value of USD 2357.1 Million in 2033.

The market for high-power transformers is expanding rapidly as a result of the need for high-capacity power plants and the increasing demand for electricity. Transformer devices are hence used to enable the transmission of power across greater distances through interconnected networks.

Tap changers are a crucial part of transformer systems as they can maintain a constant voltage within the constraints of the transformer. These can also guarantee the unbroken operation of the machinery and maintain it for use in large power networks or industries.

In emerging countries, the expansion of the housing market is increasing the need for dependable electricity sources. The need for transformer accessories and components such as tap changers, voltage relays, and other related products, is hence growing.

Leading companies should profit from consistent growth opportunities as medium- and small-sized enterprises become more and more recognized. They aim to be a viable alternative for individuals looking to invest in infrastructure development.

Several regional administrations have varied plans for electrification, including the construction of hydroelectric facilities and the electrification of rural areas. It is predicted that these will help to raise the need for transformers. The market is expected to be propelled by the increased reliability of transformers due to retrofit possibilities for reducing maintenance costs.

Key Takeaways from the Transformer Tap Changers and Voltage Control Relay Market Study:

By phase type, the three-phase segment is estimated to account for a significant share of 59% in 2023.
On the basis of application, the industry segment is likely to dominate the market and create an incremental opportunity of USD 219.4 Million from 2023 to 2033.
The global transformer tap changers and voltage control relay industry is anticipated to provide a total revenue potential of USD 892.90 Million in the period of assessment.
Germany transformer tap changers and voltage control relay industry is anticipated to expand at a CAGR of 4.4% in the next ten years.
China transformer tap changers and voltage control relay industry is expected to flourish at 6% CAGR from 2023 to 2033.

“Urgent requirement for effective power transmission and distribution systems is projected to drive the market. Through 2033, the market is also expected to be influenced by the world’s aging power infrastructure and rising electricity demand. Reliability is a major issue for modern consumers. Manufacturers in the market would find significant growth opportunities in innovating towards this end.” says a lead analyst at Future Market Insights (FMI).

Competitive Landscape:

The global transformer tap changers and voltage control relay market is moderately consolidated with few global players acquiring around 40% to 50% of shares. These players are likely to invest in new technology developments and expansion of their distribution networks to maintain their presence.

Key Companies Profiled:

Siemens AG
ABB Ltd
Hitachi Energy Ltd
Brush (FKI Group)
Maschinenfabrik Reinhausen GmbH
Schneider Electric
Rockwell Automation
Schweitzer
Toshiba Corporation
Mitsubishi Electric Corporation
Eaton

Recent Developments:

In September 2022 , General Electric announced that it had developed a new grid management system. This new system provided advanced voltage control and transformer tap changer technology, ultimately improving the efficiency and reliability of power systems.
In December 2022 , Siemens revealed that it had supplied its advanced voltage control technology to the Grid Asset Management project in the UK. This project specifically aims at improving the durability of the country’s power grid.

Market Outlook by Category :

By Phase:

Single Phase
Three Phase

By Application:

Industrial
Utility and Grid
Commercial
Others

By Product Type:

Transformer Tap Changers
- Off-circuit Tap Changer
- On-circuit Tap Changer
Voltage Control Relays
- DIN Rail
- Panel Mounted

By Region:

North America
Latin America
Western Europe
Eastern Europe
East Asia
Central Asia
Russia and Belarus
Balkan and Baltic Countries
South Asia and Pacific
Middle East and Africa

Access Report Details for More In-Depth Information!

Author:

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

About Future Market Insights (FMI)

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:

FMI Analysis Affirms USA Hydrogen Electrolyzer Market Revenue to Drive Past USD 790.8 Million Milestone by 2033, Growing at 23.8% CAGR

The USA hydrogen electrolyzer market is poised for remarkable growth, with projections indicating a robust CAGR of 23.8% from 2023 to 2033. By 2033, it is expected to attain a valuation of approximately USD 790.8 million, marking substantial expansion from the anticipated valuation of around USD 93.2 million in 2023.

Notably, the demand for polymer electrolyte membrane (PEM) electrolyzers is anticipated to play a pivotal role, contributing to over 45% of the market value share by 2023. This significant market share is attributed to the sustained demand for supplementing the natural gas grid to enhance efficiency and facilitate vehicle fueling.

Hydrogen-producing electrolyzers serve as pivotal devices, employing electrolysis to produce hydrogen through the separation of oxygen and hydrogen molecules, driven by electrical energy. As the market continues to evolve, these electrolyzers are expected to play a crucial role in meeting the growing demand for hydrogen across various sectors.

Growth Factors

The surge in demand for hydrogen electrolyzers in the USA can be attributed to several factors, including legislative initiatives aimed at reducing carbon emissions and increasing financial backing for renewable energy initiatives. The market stands to witness significant growth with the emergence of new and more efficient electrolyzer technologies.

Government-led endeavors to mitigate carbon emissions play a pivotal role in propelling sales of hydrogen electrolyzers. In the USA, legislative measures and policies are actively promoting the adoption of sustainable energy alternatives, particularly hydrogen fuel.

For instance, the USA General Services Administration (GSA) has committed to transitioning to exclusively renewable energy sources for its federal real estate portfolio by the year 2025.

Moreover, the hydrogen electrolyzer industry is expected to receive a boost from substantial adaptations in manufacturing processes triggered by the pandemic in 2020. As businesses pivot towards cleaner, more reliable, and environmentally friendly energy sources, strategic alignment becomes imperative.

Market Trends

The utilization of hydrogen in refinery hydro-processing has witnessed a notable uptick in recent years, along with a growing presence in various secondary end-user sectors, driving demand in the USA.

Specifically, the USA has experienced a significant surge in the demand for hydrogen, particularly in the production of ultra-low sulfur diesel fuel.

Furthermore, the escalating demand for environmentally sustainable energy sources has propelled the market expansion of hydrogen electrolyzers in the USA. This surge is fueled by the increasing preference for cleaner energy alternatives.

Additionally, there is a notable trend towards on-site hydrogen generation among diverse end users, owing to several compelling environmental and economic advantages. These benefits include reduced transportation costs and emissions, as well as mitigated risks associated with gas handling and storage inadequacies.

Key Companies

ABB Ltd.
Bloom Energy
Nel Hydrogen
Air Liquide
Plug Power Inc.
Giner Inc.
Ballard Power Systems
ITM Power Plc
Siemens AG
Tianjin Mainland Hydrogen Equipment Co. Ltd
Gaztransport & Technigaz
Pure Energy Centre
Idroenergy
Erredue SpA
Swiss Hydrogen SA
Shandong Saikesaisi Hydrogen Energy Co., Ltd.
Next Hydrogen

USA Hydrogen Electrolyzer Market Outlook by Category

By Product Type:

Polymer Electrolyte Membrane (PEM) Electrolyzer
Alkaline Electrolyzer
Solid Oxide Electrolyzer

By Capacity:

Low (<= 150 kW)
Medium (150kW to 1mW)
- 150 to 400 kW
- 400 to 750kW
- 750 to 1mW
High (> 1mW)
- 150 to 400 kW
- 400 to 750kW
- 750 to 1mW

By Outlet Pressure:

Low (≤10 bar)
Medium (10 bar to 40 bar)
High (≥ 40 bar)

By End-use Industry:

Ammonia
Methanol
Refinery/Hydrocarbon Processing
Electronics
Energy
Power to Gas
Transport
Metal Production & Fabrication
Pharma & Biotech
Food & Beverages
Glass Industry
Others

By Region:

West USA
Midwest USA
Northeast USA
South USA

Access Report Details for More In-Depth Information!

Author:

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

About Future Market Insights (FMI)

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

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FMI Study Affirms United Kingdom Photovoltaic Mounting System Market Share to Exceed USD 1,643.8 Million by 2033, Growing at 8.4% CAGR

The United Kingdom photovoltaic mounting system market has exhibited significant growth, achieving a valuation of USD 678.0 million in 2022. Forecasts indicate a robust compound annual growth rate (CAGR) of 8.4% from 2023 to 2033, propelling the market to reach USD 1,643.8 million by 2033. This trajectory underscores the nation’s steadfast commitment to sustainable energy solutions.

Within this thriving market, ground-mounted PV systems take center stage, projected to contribute over 40% of the market’s value share in 2023. This trend underscores the widespread adoption of ground-mounted systems, highlighting their effectiveness and efficiency in harnessing solar power across the United Kingdom.

Key Insights from the Study on the United Kingdom Photovoltaic Mounting System Market:

The photovoltaic mounting system sector in the United Kingdom is poised to experience robust growth, projected at an impressive 8.4% CAGR until 2033.
Anticipated to surpass USD 1,643.8 million by 2033, the market’s value in the United Kingdom is on a significant upward trajectory.
Segmented by product type, the ground mounted photovoltaic system is expected to dominate, capturing approximately 59% of the market share throughout the projected period.
In terms of sales channels, the B2C segment is predicted to hold a substantial share, accounting for over 37% of the United Kingdom’s market.
Across end-use categories, the residential segment is set to thrive with a noteworthy 9.3% CAGR over the coming decade.

Expanding Opportunities in the United Kingdom Photovoltaic Mounting System Market:

In recent times, the United Kingdom has emerged as a highly promising market for manufacturers of photovoltaic mounting systems. This growing trend can be attributed to the increasing embrace of renewable energy sources and the presence of favorable government initiatives.

Government-driven programs, such as the Feed-In Tariff (FIT) scheme, have significantly contributed to this positive momentum. The FIT scheme offers attractive financial incentives to both homeowners and businesses for adopting renewable energy systems, including photovoltaic mounting solutions.

Playing a pivotal role in advancing renewable energy utilization, the Renewable Energy Association (REA) is actively promoting the adoption of such technologies across the United Kingdom.

The synergy between government incentives and the proactive efforts of industry bodies like the REA is set to fuel the continued adoption of photovoltaic systems throughout the United Kingdom. This collective drive will further facilitate the expansion of the United Kingdom’s photovoltaic mounting system market.

Moreover, the ongoing innovation in photovoltaic mounting systems is expected to inject fresh momentum into the market’s growth trajectory, projecting positive outcomes well into 2033.

Competitive Landscape:

Leading manufacturers and providers of photovoltaic mounting systems include Unirac Inc., Schletter Inc., SunPower Corporation, Mounting Systems GmbH, and Renusol GmbH.

These companies offer a wide range of PV mounting systems, including rooftop, ground-mounted, and floating systems, and are continuously innovating their products to stay ahead in the market.

United Kingdom Photovoltaic Mounting System Market Segmentation:

By Product Type:

Rooftop
Ground Mounted
Carport Mounting Structure

By Sales Channel:

Business to business(B2B)
Business to Customer(B2C)

By Material Type:

Aluminum
Steel
Others

By Technology:

Fixed
Tracking

By End Use:

Residential
Commercial
- Offices
- Recreational Areas
- Educational Institution
- Hospitality
- Healthcare Facilities
- Others
Industrial
Municipal and Government Facilities
Others

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Author:

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

About Future Market Insights (FMI)

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FMI Study Indicates Global Air Filters Market Size to Exceed USD 30.33 Billion Mark by 2033, Surging at an Average 6.26% CAGR

The global air filters market is on an upward trajectory, poised to surpass the USD 30.33 billion mark by 2033, showcasing a substantial surge from its 2023 valuation of USD 16.53 billion. This remarkable expansion is propelled by a robust Compound Annual Growth Rate (CAGR) of 6.26%, underscoring the persistent demand for efficient air filtration solutions.

Once undervalued, air filters have undergone a significant transformation, now recognized as indispensable components crucial for daily life. Quietly enhancing overall well-being, these filters play a pivotal role in elevating indoor air quality, thereby mitigating health risks associated with air pollution. This evolution assumes heightened significance amidst escalating urbanization and industrial activities, highlighting the pressing challenges of maintaining air quality both indoors and outdoors.

The Role of Air Purifiers in Commercial Settings and Overcoming Challenges:

Air purifiers are used in schools, malls, conference centers, workplaces, hospitals, hotels, theaters, and other commercial settings such as recreation centers and amusement parks.

Rising urban air pollution levels pose challenges for local governments. As more than 70% of the millennial population works indoors, an increase in cases of fine dust and infectious disease has been noticed.

This growth is due to increasing pollution levels and rising demand for air filters in residential and commercial areas, with further expansion expected as public awareness of the health risks associated with air pollution increases.

However, technological limitations to the air filters combined with low awareness among the population may act as a barrier to market expansion. Nevertheless, rigorous research and development activities with constant support from regulatory authorities are more likely to liquidate these challenges.

Key Takeaways:

Dust collectors are gaining ground and are anticipated to account for more than 28% of revenue in 2022 due to their ability to control air quality.
MIS collectors, baghouse filters, and cartridge filters are expected to support market expansion in addition to having a sizable air filter market share.
In 2022, the commercial segment took control of the sector, accounting for 57.0% of global revenue.
The North American air filter market is expected to be worth USD 9.63 billion by 2033, at a CAGR of 6.3% during the forecast period.
The European market is expected to record a consistent revenue CAGR of 6.4%.
FMI predicts that the India air filter market is likely to record a CAGR of 11.97% during the forecast period and is likely to reach a market valuation of USD 1,966.71 million by 2033.

Competitive Landscape:

Prominent key players are focusing on acquiring mid-sized companies to expand their global presence. For example, Daikin Industries, Ltd. subsidiaries AAF and Nippon Muki Co. Ltd. are focusing on developing product portfolios for applications in engineering fields, factories, and buildings, among others. Furthermore, market participants are focused on producing effective filters at low manufacturing costs.

Recent Developments:

PURAFIL, INC. installed ‘PuraShield Smart 1000 portable filtration systems’ in September 2020 to improve indoor air hygiene at Northwestern University Athletics & Recreation. It is a multi-stage original filtration solution that removes nearly 99.99% of aerosols from the air, including bacteria and viruses.
MANN+HUMMEL and its subsidiary Tri-Dim Filter Corporation began supplying HEPA Filters in Ford respirators in April 2020. Germs, microbiological contamination, and viruses are reliably removed from the supply air by these H13 HEPA Filters.

Browse More! https://www.globenewswire.com/news-release/2023/04/13/2646342/0/en/Global-Air-Filters-Market-is-expected-to-reach-a-revenue-of-US-30-3-Billion-by-year-ending-2033-at-a-CAGR-of-6-26-Experts-analysis-by-Future-Market-Insights-Inc.html

Key Players:

3M Company
Parker Hannifin Corporation
MANN+HUMMEL Holding GmbH
Donaldson Company, Inc.
Ahlstrom-Munksjö Oyj
Freudenberg Filtration Technologies SE & Co. KG
Camfil AB
Clarcor Inc.
Cummins Inc.
American Air Filter Company, Inc.

Key Segments Covered in the Market Report:

By Type:

Cartridge filters
Dust collector
HEPA filters
Baghouse filters
Others (Mist filters)

By End User:

Residential
Commercial
Industrial

By Region:

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific Excluding Japan (APEJ)
Japan
The Middle East & Africa (MEA)

Access Report Details for More In-Depth Information!

Author:

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

About Future Market Insights (FMI)

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

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Global Absorbent Cover Market Poised for Growth, Expected to Reach USD 3.2 Billion by 2034 | FMI

The global absorbent cover market is projected to grow significantly, reaching an estimated value of USD 2.3 billion in 2024 and anticipated to register a compound annual growth rate (CAGR) of 3.4% through 2034, ultimately reaching USD 3.2 billion. This growth is fueled by increasing patient care activities in the healthcare industry, particularly in elder and infant care segments, alongside rising demand for eco-friendly packaging solutions.

As healthcare providers focus on specialized and bespoke products such as diapers, floor sheets, and mattresses, the absorbent cover market is poised for substantial development. Manufacturers in the medical supply sector are expected to leverage advanced materials to create innovative absorbent products that meet regulatory standards and consumer needs.

The aging population and the prevalence of chronic illnesses, including diabetes and urinary issues, are driving the demand for tailored absorbent solutions. With a significant share of the population expected to require these specialized products, the absorbent cover market is set to expand accordingly.

In addition to healthcare applications, absorbent covers play a vital role in protecting liquid goods during storage and transportation. Their use across various sectors, including logistics and manufacturing, highlights their importance in spill containment and maintaining product integrity.

Moreover, the growing popularity of eco-friendly absorbent materials—such as biodegradable polymers and natural fibers—aligns with global sustainability initiatives. As industries shift towards environmentally responsible practices, the demand for organic absorbent covers is anticipated to rise, offering benefits in waste management and pollution reduction.

Key Highlights of the Industry:

Organic Polymer Development : Eco-conscious consumers are increasingly favoring absorbent covers made from biodegradable materials, driven by the urgent need for sustainable alternatives in urban environments.
Advancements in Material Science : Innovations in superabsorbent polymers (SAPs) are revolutionizing absorbent covers, enhancing their efficiency and applications in fields like agriculture, healthcare, and construction.
Research and Development Challenges : While advancements in technology present opportunities, high raw material costs, particularly for absorbent polymers, pose challenges for manufacturers aiming to maintain production efficiency and affordability.

Key Players of Absorbent Cover Industry

Husk Medical B.V.
Brady Corporation
Medline Industries, LP.
Sirane Ltd
Gusmer Enterprises, Inc.
Enviroguard Solutions
Novipax, LLC
3M Company
Gelok International Corporation
Trico Corporation

Access Full Report: https://www.futuremarketinsights.com/reports/absorbent-cover-market

Key Segments of Absorbent Cover Industry

By Material:

In terms of material, the industry is separated into superabsorbent polymers (SAPs), cellulose, non-woven fabrics, foam, cotton, and other natural fibers.

By Application:

Based on the application, the industry is integrated into medical pads, diapers, absorbent pads, floor mats, and seat covers.

By End use:

End use industries of the product are healthcare, personal care, automotive, and industrial.

By Region:

Key countries of North America, Latin America, Europe, East Asia, South Asia & Pacific, and Middle East & Africa (MEA) have been covered in the report.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

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