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The global demand for condition monitoring services is projected to surpass the valuation of US$ 9.7 Billion by 2033 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 the global market. On the flip side, the current global coronavirus pandemic is expected to cost the 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 petrochemical 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 the majority of countries. As the COVID-19 pandemic spreads, condition monitoring services will 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 the 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 asset downtime is fueling the deployment of both techniques.

Competition Landscape Analysis

The global condition monitoring service market is slightly competitive, with the presence of a 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
• META

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 is 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 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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The global Crane Market is projected to witness significant growth in the coming years, driven by rapid urbanization, large-scale infrastructure projects, and increasing industrial activity across various regions. Cranes, essential for lifting and transporting heavy materials, are pivotal in construction, mining, shipping, and manufacturing sectors. As global demand for construction and industrial machinery rises, the crane market is well-positioned for expansion.

Key Takeaways:

• Infrastructure Development Fuels Growth: Massive investments in infrastructure projects such as roads, bridges, ports, and urban development are driving demand for cranes, particularly in emerging markets across Asia-Pacific and the Middle East.
• Technological Advancements in Crane Design: The integration of advanced technologies, such as automation, telematics, and fuel-efficient systems, is enhancing the operational efficiency of cranes and reducing downtime, attracting more buyers.
• Growing Demand from Energy and Power Sectors: Cranes are playing a critical role in the construction and maintenance of energy infrastructure, particularly in renewable energy sectors like wind and solar farms, further bolstering market growth.
• Rising Focus on Safety and Sustainability: Manufacturers are increasingly focusing on developing eco-friendly cranes with enhanced safety features, responding to the global push for sustainability and stricter safety regulations in construction and industrial settings.
• Urbanization and Industrial Expansion in Developing Regions: Rapid urbanization and industrial growth in developing economies are boosting demand for cranes in sectors such as construction, manufacturing, and shipping, with high growth potential in countries like India and China.

Full Market Assessment: Comprehensive Report

Applications of Cranes:

• Construction Industry: Cranes are indispensable in the construction of residential and commercial buildings, bridges, and infrastructure projects. Tower cranes and mobile cranes are widely used for lifting and placing heavy materials at construction sites.
• Mining and Excavation: The mining sector relies on heavy-duty cranes for material handling, transport of large equipment, and loading operations. Rough terrain and crawler cranes are particularly suited for rugged mining environments.
• Shipping and Ports: In the shipping industry, cranes such as gantry and overhead cranes are essential for loading and unloading cargo from ships. Port infrastructure development and increasing global trade are driving demand for cranes in this sector.
• Manufacturing and Industrial Plants: Cranes are critical in industrial facilities for moving heavy machinery, equipment, and materials during the production process. Overhead cranes are frequently used in manufacturing plants and warehouses for efficient material handling.
• Energy and Power Generation: In the energy sector, cranes are used for the installation and maintenance of wind turbines, solar panels, and power plants. With the growing focus on renewable energy, demand for cranes in this sector is expected to rise.

Competitive Landscape

The global crane market is fragmented with the presence of several large and medium-scale players. The leading players in the crane market are investing in strategic agreements in order to capture market share.

Some of the development by prominent players in the crane market are:

• Liebherr is a prominent player in the crane market, known for its wide range of mobile and crawler cranes. In recent years, Liebherr has focused on innovation and product development. For example, they introduced the Liebherr LTM 1650-8.1 mobile crane, which has one of the longest telescopic booms in its class. This crane offers high lifting capacities and advanced safety features, catering to the needs of heavy lifting applications.
• Terex Corporation is a leading manufacturer of cranes, including rough terrain cranes, tower cranes, and truck-mounted cranes. In recent years, Terex has made advancements in technology and safety features. They launched the Terex CTT 472-20 flat-top tower crane, featuring an increased lifting capacity and advanced control systems for improved efficiency and productivity. This crane incorporates automation features for ease of use and enhanced safety.

Top Key Players

• Liebherr Group
• Terex Corporation
• XCMG Construction Machinery Co. Ltd.
• The Manitowoc Company
• Cargotec Oyj, Tadano Ltd.
• Zoomlion Heavy Industry Science & Technology Co., Ltd.
• Kobelco
• Sany Group
• Kato
• Tadano Ltd.

Future Outlook:

The Crane Market is poised for strong growth, with demand driven by ongoing urbanization, the rise of mega infrastructure projects, and advancements in crane technology. The construction and energy sectors, particularly in emerging economies, will continue to play a pivotal role in the market’s expansion. With manufacturers increasingly focusing on sustainability, safety, and technological innovation, the crane market is expected to remain a key component of the global industrial landscape.

Know More about What the Crane Market Report Covers

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

To understand opportunities in the crane market, the market is segmented based on type, application, capacity, and design across six major regions.

Key Segmentations 

By Type:

• Rough Terrain Cranes (RTCs)
• All Terrain Cranes (ATCs)
• Truck Cranes
• Mobile Harbors
• Off-shore Ship Cranes
• Loader Cranes
• Railroad Cranes
• Crawler Cranes
• Tower Cranes
• Others

By Application:

• Aerospace and Defense
• Automotive & Railways
• Heavy Engineering
• General Engineering
• Mining
• Construction
• Marine
• Shipping & Material Handling
• Energy (Power & Gas)

By Capacity:

• Up to 5 MT
• 5 to 50 MT
• 50 to 250 MT
• 250 to 500 MT
• 500 to 1,500 MT
• 1,500 to 3,000 MT

By Design:

• Stiff Boom
• Knuckle Boom/Telescopic Boom

By Region:

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

About Future Market Insights (FMI)

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

Contact Us:       

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Future Market Insights (FMI) has published its latest research on the mercury testing service market, covering the period from 2018 to 2028. According to the study, the market reached approximately USD 800 million in 2018 and is expected to see a year-over-year growth of 5% in 2019. Increasing regulatory attention on mercury emissions is driving public and private institutions to monitor sediments, soil, and wastewater samples closely, creating significant opportunities for mercury testing providers. Mercury’s impact on health and environmental safety has intensified demand for testing services across industries like food, healthcare, agriculture, mining, and oil and gas, where strict regulations necessitate continuous quality assurance of products and environmental compliance.

Mercury-contaminated water is being increasingly perceived as among the key determinants of environmental damage and a range of health conditions, globally. Today, confiscating low, yet highly toxic levels of mercury from massive amounts of water has become a significant challenge, with mercury testing service providers experimenting with permutations and combinations to alleviate the overall risks of mercury being released in surroundings.

Dire Need for Detoxification of Agricultural Produce Unlocking Gains in Fast-Growing Economies

The study opines that rapidly increasing crop production in fast-growing countries, such as China, India, and Mexico has been bolstering the demand for heavy metal testing for food products in the region. Adoption of mercury testing services for detoxifying food products in these countries collectively accounted for revenues worth ~ US$ 44 Mn in 2018. Hg testing service providers are leveraging every pertinent approach to capitalize the growing demand for swift and precise heavy metal testing services that validate food samples QA. Additionally, growing awareness about the role of mercury testing services in determining mercury content in an array of food products, such as dairy products, meat, cereals and grains, and eliminating its hazardous effects, is creating opportunistic avenues for partakers.

Moreover, the expanding healthcare and pharmaceutical industries in South as well as East Asia are creating an increased traction for mercury testing of medicines, in light of the grave heath impacts of consuming heavy metals, particularly on pregnant women and infants. Growing use of mercury testing services to determine Hg content in human body via blood, hair, and urine test has garnered substantial momentum over the years, while registering ~22% market value share in 2018. As a matter of fact, leading players are placing their focus on squeezing additional margins by infiltrating in these lucrative regions. Bureau Veritas, for instance has acquired China-based Shenzhen Total-Test to expand its footprint in the food quality and safety sector in the region.

As per the FMI study, though significant challenges persist in Hg analysis, mercury testing service providers, having felt the heat of issues caused by the tedious process of sample preparation or the mercury analysis step, are employing advanced swift techniques. As the most recent generation of ICP-MS or cold vapor systems may leave room for error even after the long cleaning cycles, regulatory bodies are increasingly emphasizing direct mercury analysis as a viable alternative to counterparts. Several service providers are thereby, employing direct mercury analysis and have in fact, used it successfully to identify and wipe away total mercury in various solid, liquid and gas samples.

The report indicates a significant surge in mercury testing service market owing to the dire need for Hg analysis to detect and quantify mercury precisely in the oil & gas industry. This is further propelled by a significant rise in demand for mercury testing services for sampling, testing, and trace-level detection in natural gas with wide applications across different industries.

Key Segment

By Analysis Type

• Total Mercury Analysis
• Trace Mercury analysis

By Technology

• CV-AFS
• ICP-AES/OES
• ICP-MS

By Service Type

• On Site Service
• Off Site Service

By End Use

• Food
  • MeatProducts
  • Cereals&Grain
  • DairyProducts
  • Others
• Healthcare
• Oil&Gas
• Mining
• Agriculture
• Others

By Region

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

Report Preview: https://www.futuremarketinsights.com/reports/mercury-testing-services-market

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.

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
LinkedIn| Twitter| Blogs | YouTube

Agriculture testing services perform essential quality checks on various samples, including water, soil, seeds, food, and fertilizers, to ensure high-quality standards and optimize agricultural yields. Growing global demand for these services is driving substantial market growth. The agriculture testing services market is segmented by sample type (water, soil, seed, fertilizer, food, and others), service type (on-site and off-site), end users (farmers, agricultural consultants, fertilizer manufacturers, research institutions, and others), and region (North America, Latin America, Europe, East Asia, South Asia, Oceania, Middle East & Africa, and emerging countries).

Rapidly increasing global population and urbanisation are some of the major concerns across the globe. Increasing population creates a burden on the agriculture industry to maximise the overall yield production. Continuous focus on the maximisation of yield production also requires a larger quantity of agriculture products such as fertilizers, seeds, and others. The increasing demand for the quality inspection of these agriculture products to generate the maximum yield is ultimately boosting the agriculture testing service market.

Key Players Focused on Expansion in Lucrative Asian Markets

Regions such as North America, Europe, and East & South Asia are among the key regions in which the agriculture industry is growing rapidly. Prominent manufacturers are continuously focusing on these regions to capture a significant market share in terms of revenue. Agriculture testing service providers provide various types of testing services such as soil testing, food testing, water testing, seed testing, fertiliser testing, and other testing services in these regions. The presence of an adequate number of key agriculture service providers and the frequent requirement of agriculture testing services in these regions is fuelling the growth of the agriculture testing service market. These key agriculture testing service providers firmly believe in acquisitions and expansion strategies to expand their global footprints.

• For instance, Eurofins, one of the prominent agriculture testing service providers, announced the acquisition of Laboratoire de Bromatologie de l’Ouest (LBO) to extend its network of food testing laboratories in France on May 23, 2018
• The company also strengthened its footprint in France by acquiring Protec Group to expand its food and water testing activities
• ALS Limited, another agriculture testing service provider, acquired the Mikrolab Group in Sweden on October 3, 2017. The Mikrolab Group provides pharmaceutical, environmental, and food testing to a wide range of clients

On the basis of geography, North America and Europe are anticipated to capture a substantial market share in terms of value in the agriculture testing services market due to the presence of an adequate number of service providers in these regions. Moreover, the rapidly growing crop production and the need for the quality testing of these crops in the above-mentioned regions are among factors that are considerably driving the agriculture testing service market. In Latin America, there is growing demand for agriculture testing services due to the increasing consumption of fertilisers. Increasing agriculture production in the South and East Asia, along with the quality testing of agriculture products, is fuelling the growth of the agriculture testing service market.

The report tracks some of the key companies operating in the market, such as BUREAU VERITAS, Intertek Group plc, Eurofins Scientific, SGS SA, A&L Great Lakes., Agri-Labs, Inc., Polytest Laboratories, Waters Agricultural Laboratories, Inc., J. K. ANALYTICAL LABORATORY & RESEARCH CENTRE, Lilaba Analytical Laboratories, Kinsey Ag Services, AgroLab, TÜV NORD GROUP, Akshar Analytical Laboratory & Research Center, and AGQ Labs USA, and Interstellar Testing Center Pvt. Ltd.

SGS SA, BUREAU VERITAS, Intertek Group plc, and Eurofins Scientific are estimated to capture a prominent share of the agriculture testing service market. These tier 1 companies hold a share of approximately ~ 50 % of the agriculture testing service market.

Key Segment

By Sample Type

• Soil
• Seed
• Water
• Fertilizer
• Food
• Others

By Service Type

• Off-Site Services
• On-Site Services

By End User

• Farmers
• Agricultural Consultant
• Fertilizer Manufacturers
• Research Bodies
• Others

By Region

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

Report Preview: https://www.futuremarketinsights.com/reports/agriculture-testing-services-market

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.

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
LinkedIn| Twitter| Blogs | YouTube

According to Future Market Insights, the global XRF (X-ray Fluorescence) Analyzer market, valued at USD 2.2 billion in 2018, is set to grow at a CAGR of 5.7% from 2019 to 2027. XRF analyzers are seeing widespread adoption in the mining sector, where they enable on-site geochemical analysis of materials like ceramics, glass, and metals. With advancements in safety, detection accuracy, and resolution, handheld XRF analyzers are proving especially useful for assessing mine samples and drill cores.

In addition to mining, the manufacturing sector is increasingly utilizing XRF analyzers for precise identification of metals, including valuable ones like gold and platinum. Gold processors, recyclers, and refiners rely on XRF technology for determining gold purity levels. The chemical industry also benefits from XRF analyzers, which, combined with specialized software, provide accurate analysis of both solid and liquid samples, generating detailed, traceable reports for quality control. XRF analyzers are also integral to quality assurance in sectors like electroplating, electronics, automotive, and jewelry, ensuring precise material verification.

Key Takeaways from XRF Analyzer Market

• North America holds the largest market share with the mining vertical witnessing an exponential growth in the forecast period.
• Europe stands second with Germany, Belgium, and Denmark expected to make greater strides in the forecast period. Russia is also expected to grow on an unstoppable note herein.
• The Asia-Pacific is expected to hold the largest market share in the XRF analyzer market in the forecast period due to increased focus on the applications pertaining to metals and mining.
• MEA is poised to grow inadvertently in XRF analyzer market due to industrialization moving at a rapid pace.

Competitive Analysis

• Vanta Analyzer from Olympus is amongst its most advanced, handheld X-Ray fluorescence (XRF) device. It makes provisions for precise, rapid element analysis coupled with identification of alloys to the customers demanding laboratory-quality results. These XRF analyzers are constructed to be pretty rugged, so that the maintenance costs could be minimized.
• Horiba’s XRF analyzers offer high performance EDXRF (energy dispersive X-Ray fluorescence) analysis with exceptional capabilities. XGT (X-Ray Guide Tube) technology is a patented one for Horiba. It does combine conventional X-Ray fluorescence methodology with ‘small spot analysis’. Versatility in analysis is rendered through high intensity X-Ray beams with diameters ranging between 3 mm and 10 µm.
• Fischerscope X-Ray XRF from Helmut Fischer uses cutting-edge technology with various extended statistic functions including measurement results to be reported in the form of SPC charts.

Key Segment

Modularity Type:

• Portable/ Handheld
• Benchtop

Product Type:

• Energy Dispersive XRF
• Wavelength Dispersive XRF

End Use:

• Metal and Mining Industries
• Pharmaceutical
• Oil and Gas
• Environmental Research
• Art and Archeology

Region:

• North America
• Latin America
• Europe
• Japan
• APEJ
• MEA

Report Preview: https://www.futuremarketinsights.com/reports/xrf-analyzer-market

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.

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
LinkedIn| Twitter| Blogs | YouTube