Market Research Blog – Page 9432 – New Product Development

Surfing Tourism Market – Major Revenue Gains are Expected by 2032

The global surfing tourism market hold a forecasted share of US$ 9.5 billion in 2022 and are expected to surpass US$ 17 billion by 2032, moving forward with a CAGR of 6% during the forecast period (2022-2032).

Being a great cardiovascular exercise, the demand for surfing tourism is surging. Since this sport needs excessive paddling which turns out to be a good core workout, offering surfers intense upper body exercise.

With an impeccable growing rate, surfing has become a prominent action sport in the world and emerged as one of the most progressive tourism industries in the world, positively influencing the surfing tourism market outlook.

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Key Takeaways

The option of surfing tourism is on the surge as it is considered a great stress reliever and a fun activity which helps in reducing the negative effects of stress.
The increasing inclination of many health-conscious enthusiasts towards participating in surfing has been attributed to the surging demand for surfing tourism.
While surfing the body gets in touch with sunlight delivering adequate vitamin D along with regulating the amount of calcium and phosphorus in the body. Backed by such health benefits surfing tourism market is witnessing exponential growth.
According to several medical studies, surfing also helps in improving the quality of sleep, reducing mental stress, and reshaping the seep cycle which is expected to drive growth in the surfing tourism market.
As per several medical studies, salt water is a natural healer of injuries and frequent contact with sea water can aid in the prevention of injuries both on and off the surfboard, catering to the growing demand for surfing tourism.
The United States has the largest market for surfing tourism, greatly contributing to the growing share of North America which is predicted to hold 20% of the surfing tourism market share.

Competitive Landscape

AGIT Global North America, Inc., AJW Surfboard Boardriders, Inc., Body Glove, BruSurf, CANNIBAL SURFBOARDS, Channel Islands Surfboards, Firewire Surfboards, LLC, Global Surf Industries, Globe International Limited, Gul Watersports Ltd., Harbour Surfboards, Hydenshapes, Infinity Surfboards Inc., JS Industries, Keeper Sports Products, LLC, Mt Woodgee Surfboards, Naish International NSP International, O’Neill, Rip Curl International Pty Ltd., Rusty Surfboards, Tahe Outdoors Ltd., Volcom, LLC are some of the key companies profiled in the full version of the report.

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More Insights into the Surfing Tourism Market

Some of the popular surfing destinations across the globe include Ulu Watu in Bali, Playa Grande in Costa Rica, Bundoran in Ireland, Jeffreys Bay in South Africa, Huntington Beach in California, and Bondi Beach in Sydney, Taghazout in Morocco, Arugam Bay in Sri Lanka and Biarritz, France. These places are anticipated to surge market growth immensely in near future.

The U.S. is anticipated to dominate the North American region by contributing approx. 20% in the global surfing tourism market.

The surfing tourism market trends and forecast is likely to be fueled by several surf parks in the United States that use artificial wave technologies.

Countries like New Zealand and Australia are expected to drive lucrative growth in the global surfing tourism market by contributing 33% of the market share during the forecast period.

The Surfing Federation of India, which organizes various events throughout the year, is hosting the Indian Open of Surfing 2022, which is expected to augur well for the Asia-Pacific surfing tourism market share.

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Turkey Medical Tourism Market – Dominance of the Leading Companies Over the Global Industry

The turkey medical tourism market which is valued at around US$ 3.5 billion in 2022, is anticipated to grow at a CAGR of 5%, and is expected to be valuated at nearly US$ 7.6 billion in 2032.

Turkey is fast becoming one of the major destinations for medical tourism dueto the low treatment prices as compared to other nations. A secure and safe environment, established hospitals, skilled doctors and right climate conditions are some of the factors that determine the potential of a medical tourism destination.

Turkey is known to be one of the best health care destinations because it provides world class certified staff, good hospitals and a tourist friendly environment. Some of the major treatments offered by well-known hospitals in Turkey include plastic surgery, dental treatment, cosmetic surgery, electric surgery, hair transplants, in-vitro fertilisation, eye surgery, cardiology and cardiovascular surgery, orthopaedics and traumatology.

There are two unique and imperative explanations behind individuals who travel abroad for medical purposes – high treatment costs in native country and seeking better nature of medicines. Turkey is known for its historical, cultural and natural beauty that attracts tourists to visit the country. Turkey comes first in the minds of patients who look for both medical treatment and holidays at the same time.

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Medical Tourism in Turkey: Trends and Analysis of Key Drivers

Medical tourism in Turkey offers a complete package including medical care, spas, thermal, and wellness services along with accommodation in luxury hotels. Turkey medical tourism offers one-stop administration that includes treatment duration, sorting out meetings with health care professionals and booking convenience etc.

High-quality medical care is available at reasonably low prices in Turkey. People prefer to go for medical treatments to Turkey, because of the highly skilled staff and doctors in private hospitals and clinics. Advanced medical technologies such as Cyberknife, Vinci surgery robot, real beam, PETCT, IGRT, MRI, and Gamma knife is used efficiently by private hospitals and clinics in Turkey and some hospitals are affiliated with the top U.S health institutions such as Harvard Medical School and John Hopkins Medicine.

The global financial crisis has played a significant role in increasing influx of medical tourists to Turkey due to the low-cost medical procedures and vacations in the country. Demand for cosmetic surgeries such as facial implants, skin resurfacing, nose, ear, eyelid and tummy tuck surgery, hip replacement, liposuction, breast lift, breast augmentation, breast reduction and chemical peel are increasing in Turkey due to the rise in the cost of such surgeries in Europe and North America.

The cost of many treatments is half in Turkey as compared to Western Europe and the U.S. Some of the hospitals that provide world class facilities and best treatment in Turkey include Anadolu Medical Center, Bayindir Hastaneleri Hospital and Guven Hospital. Further, Turkey has introduced tax-free health care zones with the main focus of attracting foreign medical tourists.

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Medical Tourism in Turkey: Restraints

However, medical tourists visiting Turkey find it difficult to communicate with locals and health care professionals at the time of their visit. People find it difficult to get the necessary information about good hospitals and skilled medical professionals and more legal framework and complex processes are involved here. Medical tourism facilitators enable the foreign travellers to overcome these challenges and act as a representative of the tourists in the destination throughout the treatment process.

Medical Tourism in Turkey: Top Cities

The three top most cities known for their health care facilities in Turkey are Istanbul, Ankara, and Izmir, offering one-stop services to a large number of patients coming from other countries beginning from the day of meeting with the health care professional to the day of departure.

This comprehensive report equips readers with lucid information and analysis on the sector. Future Market Insights’ experienced travel and tourism analysts bring to you accurate and unbiased information to help you make crucial decisions with confidence.

The report offers a 360° view – bringing to the fore key drivers, restraints, opportunities, and challenges prevailing in the sector. To offer readers actionable insights, detailed information on historical trends, current scenario, and future projections is provided in the report.

Key Segments Profiled in the Turkey Medical Tourism Market Survey

By Booking Channel:

Phone booking
Online booking
In person booking

By Consumer Orientation:

Men
Women
Children

By Age group:

15-25 years
26-35 years
36-45 years
46-55 years
56-65 years
66-75 years

By Tour type:

Independent traveller
Tour Group
Package Traveller

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Europe’s Golden Generation Travel Market In-Depth Analysis with Booming Trends Supporting Growth and Forecast 2032

The Europe’s Golden Generation Travel Market is estimated to reach US$ 68 Bn in 2022. As per the report, sales are forecast to increase at a robust 4% CAGR, with the market valuation reaching US$ 88.81 Bn by 2032.

There is a rise in senior tourists in Europe’s tourism market. The travellers in the age group of 55 years and above are referred as the golden generation tourists.

This segment contains working as well as retired populations. Also, they have a decent spending capacity and time to travel. By virtue of which, the golden generation travellers account for a major share in the tourism market globally. These travellers travel for several purposes such as holiday, visiting friends or family or for medical reasons in some cases.

They also account for a major share in the outbound tourism market. The working group among the golden generation travel for business purposes too.

Moreover, there are several initiatives which are put in place by various countries in the EU. These initiatives improve the convenience of the travellers while providing additional financial support in some countries. The areas with the most cultural significance, natural beauty, and historical significance are the ones that Europe’s golden generation travels to the most. France, Spain, Germany, and Italy are the most travelled to countries. Austria, the United Kingdom, Turkey, Greece, Portugal, the Netherlands, Switzerland, Russia, and Poland are additional regions.

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“Senior travellers are likely to have higher disposable incomes, and have enough free time post-retirement to go for long trips. While they will look for travel options that which offers convenience and comfort while travelling” says an FMI analyst.

Key Takeaways:

By booking channel, the in-person segment is anticipated to hold a noteworthy share of nearly ~55%.
Based on packages, Europe’s Golden Generation travelers will continue to opt tour group deals over the normal travel deals.
By 2050, seniors will make up almost one-fourth of the world’s population. This suggests that they will spend more on travel in the future than all travellers from the younger generation put together.
Older travellers are concerned about their security, threats, and health safety due to some form of physical disability.

Impact of COVID-19 on the Market:

The epidemic and accompanying laws had the biggest negative impact on the tourism sector. People’s repetitive lifestyles had grown boring and wearisome. As a result, once the situation was under control, travel aficionados began to show up in big numbers. However, the lockdown also caused a significant drop in traveller income, forcing individuals to look for less expensive and more accessible forms of travel, including inexpensive lodging and inexpensive ways of transportation.

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Who is winning?

Leading players in the Europe’s Golden Generation Travel Market are Road Scholars, Globus, Intrepid Travel, Trafalgar, Smithsonian Journeys, Backroads, Overseas Adventure Travel, Elder Treks, Grand Circle Travel, Grand European Tours, and Colette Tours among others.

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Future Market Insights, in its new offering, provides an unbiased analysis of the Europe’s Golden Generation Travel Market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.

The study divulges compelling insights on the Europe’s Golden Generation Travel Market by Tourism Type (Cultural Tourism, Culinary Tourism, Sports Tourism, Spiritual Tourism, Medical Tourism, Others) Booking Channel (Phone Booking, Online Booking & In Person Booking) Tourist Type (Domestic & International) Tour Type (Independent Traveller, Package Traveller and Tour Group) – Forecast to 2017 – 2032

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Managed Travel Distribution Market is Anticipated to Touch a Value of Nearly US$ 236 Bn in the year 2032

The Managed Travel Distribution Market is poised to reach a valuation of US$ 91 Bn in 2022. Sales are projected to increase at a 10% CAGR, with the market size reaching US$ 236 Bn by 2032.

Systems like managed travel distribution are becoming more and more prevalent. As the number of new business travellers increases globally, there is an increasing need for organised and personalised travel planning. Technology advancement and digitalization have had an impact on the development of controlled travel distribution.

There are numerous possibilities for luxurious travel, and they are growing each time. The market for managed travel distribution is expanding consistently. Business travellers of today prefer the organised tours provided by managed travel distribution. Due to the widespread usage of smart phones, the managed travel distribution sector is rapidly evolving.

Managed travel distribution systems are becoming more and more common. Globally, there is an increasing demand for organised and customised travel planning due to the rise in new business travellers. The evolution of controlled travel distribution has been influenced by technological advancements and digitalization.

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There are many options for premium travel, and they are expanding. The managed travel distribution market is steadily growing. Today’s business travellers favour the planned excursions offered by managed travel distribution. Smart device adoption is rampant, which is causing the managed travel distribution industry to change quickly.

“Pandemic coming to the end and corporate sector looking to increase their business will make the Managed Travel Distribution Market Stable again“Says an FMI analyst.

Key Takeaways:

By booking channel, the online booking segment is anticipated to hold a noteworthy share of nearly ~75%.
Based on packages, Managed travelers will continue to opt for group tour deals over the normal travel deals.
In terms of booking channel, online booking segment is estimated to account for the relatively highest value share in the Managed Travel Distribution Market as this mode of booking is very convenient.

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Impact of COVID-19 on the Market

Same as other sectors, the travel sector also got damaged at a great extent. Every business related to travel and tourism had to be shut down because of the rules and regulations imposed by lockdown. The managed distribution market majorly includes travellers from the corporate sector which was also impacted severely due to the pandemic.

This caused a fall in the economic status of the corporate sector too. Plans for the beginning of 2022 were hampered by the omicron version, but the second quarter is expected to witness a strong increase, putting trip spending above one-third of 2019 levels. All throughout the year, steady increases in transient corporate travel and event-driven travel are anticipated. Although there should be fewer obstacles to international travel, in 2022 there will be less cross-border excursions due to uncertainties about rules and worries about getting lost abroad.

Who is winning?

Leading players in Managed Travel Distribution market are Travel Leaders Group, Travel and Transport, BCD Travel, Expedia Inc., Global Business Travel, HRG Travel, Travel perk, Agencia among others.

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Future Market Insights, in its new offering, provides an unbiased analysis of Managed Travel Distribution market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.

The study divulges compelling insights on the Managed Travel Distribution by Type (Customer Meetings, Clients’ Office Visit, Internal Meetings, Conferences, Others) Booking Channel (Phone Booking, Online Booking & In Person Booking) Tourist Type (Domestic & International) Tour Type (Independent Traveller, Package Traveller and Tour Group) Age Group (15-25 Years, 26-35 Years, 36-45 Years, 46-55 Years,56-65 Years, 66-75 Years) & Region – Forecast to 2017 – 2032.

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Art Tourism Market Comprehensive Research Study and Strong Growth in Future 2032

The Art Tourism market is poised to reach a valuation of US$ 43 Bn in 2022. Sales are projected to increase at a 2% CAGR, with the market size reaching US$ 52.42 Bn by 2032.

The economic growth of the nation, area, or town where these artistic or cultural activities are typically held is boosted by art and cultural tourism. In addition to providing outstanding artists with a platform to display their abilities, art tourism draws valuable commerce to the location where it is promoted.

A city’s identity cannot exist without art. Aside from generating income for the state or region, art tourism also strengthens the local economy, promotes non-art enterprises, and creates employment opportunities. The opportunity to participate in activities relating to art is also given to local artists. Additionally, art tourism promotes hotels.

The frequent visits of tourists to the hotels in the town where the events are taking place pushes hoteliers to infuse their establishment with a local flavor. To accommodate a growing number of tourists, hotel owners also enable local artists to display their talent in their establishments.

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Many times, art-related events are organized to raise money for a worthwhile cause. The funds raised from visitors in exchange for entry tickets are either donated to non-profit organizations as financial support for their selfless work or utilized to educate underprivileged children.

Also the regional as well as national governments are taking extreme efforts to increase the popularity of Art tourism amongst travelers. While United Nations World Tourism Organization (UNWTO) is also taking sincere efforts to empower the art tourism market by launching new initiatives to attract more and more tourists. They are also offering packaged deals including various artistic activities to uplift the sector. The Art tourism market is expected to grow at an admirable rate in the coming time.

“Increase in the number of concerts and art events with more people gaining interest in Art will prove to be beneficial for the Art Tourism. “Says an FMI analyst.

Key Takeaways:

By booking channel, the online booking segment is anticipated to hold a noteworthy share of nearly ~70%.
Based on packages, Art tourism travelers will continue to opt packaged and group tour deals over the normal travel deals.
In terms of booking channel, online booking segment is estimated to account for the relatively highest value share in the Art market as this mode of booking is very convenient.

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Impact of COVID-19 on the Market

The tourism market was the one that had been hit very hard due to the restrictions imposed due to the pandemic. While it was also the sector which rose at an appreciable pace as the people were bored and tired of their monotonous schedule. However, art was something that people enjoyed during the quarantine.

Whether it be music, painting, or cooking, people had started looking at creative part of life and experimenting new things which laid a foundation for the Art tourism Market. Most of the travellers have now generated interest in different forms of art which proving to be of great advantage to the Art Tourism Sector.

Who is winning?

Leading players in the Art Tourism Market are Trafalgar, The Ultimate Travel Company, Art of Travel, Art Tours Ltd., Imago Artis Travel, Paint Away Tours, Martin Randall travel among others.

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Future Market Insights, in its new offering, provides an unbiased analysis of Art Tourism market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.

The study divulges compelling insights on the Art Tourism by Type (Concerts & Performances, Events & Exhibitions, Art Galleries & Museums, Film festivals) Booking Channel (Phone Booking, Online Booking & In Person Booking) Tourist Type (Domestic & International) Tour Type (Independent Traveller, Packaged travellers, Tour Group) Age Group (65 and older,55-64, 45-54 and others) & Region – Forecast to 2017 – 2032.

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Eastern European Affordable Resorts Market is Expected to Grow at a 14% CAGR in 2032

The Eastern European Affordable Resorts Market is poised to reach a valuation of US$ 335.1 Mn in 2022. Sales are projected to increase at a 14% CAGR, with the market size reaching US$ 1291.3 Mn by 2032.

Tourists travel most frequently to Europe, which also has the biggest global tourism market. Europe is home to a wide range of cultures, historical monuments, breathtaking scenery, and delectable cuisine. Locals all over the continent also promote a welcoming environment.

While Western Europe—which includes nations like France, Spain, Italy, etc.—captures the majority of interest, Eastern Europe has begun to draw attention from travelers looking for a cheap trip as well as those who want to discover new parts of Europe by travelling less-traveled routes. A significant increase in the number of travelers has been observed in some of Eastern Europe’s well-known regions, including Hungary, Slovakia, Serbia, Czech Republic and Romania.

The tour providers and resorts are offering exciting travel packages to attract more and more number of travelers. These packages include extra activities such as skiing which considerably expensive Western Europe by virtue of which there is a tremendous amount of tourists who have started opting for eastern European regions for their vacations.

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This trend is expected to continue and grow in coming years, while simultaneously boosting the Eastern European Affordable Resorts Market.

“Travellers wanting to enjoy the European Destinations at lower and affordable cost will prove to be beneficial for the growth of the Affordable Resorts Market in Eastern“Says an FMI analyst.

Key Takeaways:

Based on destinations, Prague is predicted to account for a dominant share of Travelers in the market through 2032.
By booking channel, the online booking segment is anticipated to hold a noteworthy share of nearly ~80%.
In terms of age group, demand in the youngsters in the age group 26-35 years will continue gaining traction through 2032.
Based on packages, Eastern European Affordable Resorts travelers will continue to opt tour group deals over the normal travel deals.

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Impact of COVID-19 on the Bicycle Tourism Market:

The tourism industry was the one who had a major setback due to the pandemic and its regulations. People were tired and bored of their monotonous lifestyle.

As a result, travel enthusiasts started coming out in large numbers once the situation came under control. However, there was also a great decline in the earnings of travelers due to the lockdown which forced people to look for cheaper and affordable tourism options including cheap modes of transport and affordable accommodations. This provided a boon to the Eastern European Affordable Resorts Market as tourists wished to experience Europe at a lesser cost.

Who is winning?

Leading players in the European Affordable Resorts Market are Accor, Best Western, Intercontinental Hotels & Resorts, Groupe Du Louvre, Carlson Rezidor Hotel Group, NH Hotels, Seven Seas Hotels, Atrium Palace, Concorde Deluxe Resort, Aurora Resorts and Michelangelo Resorts among others.

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Get More Valuable Insights

Future Market Insights, in its new offering, provides an unbiased analysis of the European Affordable Resorts Market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.

The study divulges compelling insights on the Eastern Europe Affordable Resorts Market by Destinations (Czech Republic, Hungary, Slovakia, Serbia, Romania and others) Booking Channel (Phone Booking, Online Booking & In Person Booking) Tourist Type (Domestic & International) Tour Type (Independent Traveller, Package Traveller and Tour Group) Age Group (15-25 Years, 26-35 Years, 36-45 Years, 46-55 Years, 56-65 Years, 66-75 Years) & Region – Forecast to 2017 – 2032

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Homocysteine Testing Market In-Depth Analysis with Booming Trends Supporting Growth and Forecast 2029-end

Future Market Insights (FMI) adopted a multidisciplinary approach during the pandemic-era to focus on the growth and development of the Homocysteine Testing Market. The study features insights on the current growth dynamics and the major revenue reforms prevailing in the market as of 2018 along with the key takeaways over the forecast period 2019 – 2029.

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Impact of COVID-19 on the Healthcare Industry

The COVID-19 pandemic has caused severe impacts on the global economy at various levels and which can be seen on the Healthcare industry as well. The thriving market of health care research and development is expected to exhibit a steep decline in the sales during the lockdown period owing to the shutdown of the manufacturing units, acute shortage in the supply of raw materials and absence of potential manpower. It can be deduced from the current situations brought about by the pandemic that the production, and supply chain activities have experienced minor hurdles. However, the market is projected to gradually recover post-COVID-19, which will present attractive opportunities for sales across various regions of the world in the following years.

The team of analysts at Future Business Insights are focussing on research and market study to produce different Homocysteine Testing Market forecasts and predictions at both national and international levels. They have considered several leads of information pertaining to the industry like market figures and merger estimations to assess and produce reliable and informative insights on the Homocysteine Testing Market.

Key Players

Mylan Pharmaceuticals, Bristol-Myers Squibb Company, Novartis International AG, Teligent, Inc., Pfizer Inc., Cardinal Health, Inc.

Segmentation

The global homocysteine testing market is segmented by type, drug type, form, distribution channel, and regions:

Homocysteine Testing Segmentation by Type

Moderate (15 to 30 µmol/L)
Intermediate (30 to 100 µmol/L)
Severe (greater than 100 µmol/L)

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Homocysteine Testing Segmentation by Drug Type

Folic Acid
Pyridoxine
Cobalamin
Others

Homocysteine Testing Segmentation by Form

Tablet
Syrup
Injectable
Capsule
Others

Homocysteine Testing Segmentation by Distribution Channel

Hospital Pharmacies
Drug Stores
Online Sales
Retail Pharmacies
Hypermarket/ Supermarket

Queries Solved

What is the size of the overall Homocysteine Testing Market in the Healthcare Industry and its segments?

What are the key segments and sub-segments in the market?

What are the key drivers, restraints, opportunities, and challenges of the Homocysteine Testing Market in the Healthcare Industry, and how they are expected to impact the market?

What are the attractive investment opportunities within the Homocysteine Testing Market in the Healthcare Industry?

What is the Homocysteine Testing Market in the Healthcare Industry size at the regional and country-level?

What are the key market players focusing on?

What are the strategies for growth adopted by the key players in Homocysteine Testing Market in the Healthcare Industry?

What are the recent trends in Homocysteine Testing Market in the Healthcare Industry? (M&A, partnerships, new product developments, expansions)?

What are the challenges to the Homocysteine Testing Market in the growth of the Healthcare Industry?

What are the key market trends impacting the growth of the Homocysteine Testing Market in the Healthcare Industry?

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Reasons to buy the report

We provide authentic and detailed an analysis on various market trends to enable businesses to make informed and beneficial decisions to attain competitive edge over key players.
Our analysts provide detailed market segmentation along with meaningful insights and extensive reports that other companies fail to include.
The report includes accurate analysis of the market and the current developing trends affecting the growth. FMI speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, industry experts. This ensures that the data collected is from highly reliable sources.

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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.

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Diamond Core Drilling Market Growth Factors, Opportunities, Ongoing Trends and Key Players 2031 | FMI

The market is poised to expand at over 6% CAGR on the account of increasing mining and construction activities across the globe. This is expected to increase the adoption of diamond core drilling machines, spurring sales.

According to FMI, the United States will dominate the diamond core drilling market, accounting for more than 21% of the global market. Given the widespread use of drilling machines in the construction industry in the United States, the market is expected to expand at a healthy clip during the forecast period.

According to Future Market Insights (FMI) research, the diamond core drilling market is expected to grow significantly over the forecast period. The market is anticipated to reach a cargo of 42,000 units at some point during the forecast period thanks to these, technological advancements in business automation, and demand for specially designed drilling machines (2021 -2031).

With the increasing demand for customized and automated drilling machines, the market is expected to reach the value of US$ 1.8 Bn in 2021. Growth in the market is attributed to the rising mineral production across developing economies, including India, China, and Japan.

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As per FMI, the market registered an increase of 2% in 2021 registering year-on-year (YoY) growth of 5.2%. Due to the rising rate of fatalities and accidents at constrictions and mining sites, the government is pushing for the adoption of rig-operated drilling machines instead of hand-held.

Key Takeaways from FMI’s Diamond Core Drilling Market Study

In terms of end-use, the construction industry will hold the majority of the share however increasing mineral production rate across the globe will increase the application of diamond core drilling in the mining industry
Due to stringent safety protocols and increasing fatalities in mining industries, the adoption of rig-operated drilling machines is increasing, boosting segment growth
Based on drilling technique, stitch drilling is expected to account for lion’s share in the global diamond core drilling market
Germany is expected to be one of the most lucrative markets owing to the presence of leading companies
India is expected to witness lucrative growth opportunities backed by rising application in the mining and construction industry
China will lead East Asia’s diamond core drilling market owing to the favorable government initiatives to increase the adoption of automated drilling machines

“With the surging application of diamond core drilling in construction and mining industries, end-users are focusing on efficiency and precision. To meet the growing requirement for increased productivity, key manufacturers are extensively adopting advanced and cutting-edge technologies for automation and customization. This will widen the growth prospects for manufacturers in the forthcoming years,” says the FMI analyst.

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Competitive Landscape

The dominance of the top five players has left the market consolidated, creating an entry barrier for new players in the global diamond core drilling market. Adoption of inorganic growth strategies to gain exposure in the overseas territories is one of the major factors expected to create growth opportunities.

Future Market Insights identifies Hilti Corporation, Epiroc AB, Bogart Longyear, Robert Bosch, and Husqvarna AB among the top 5 players in the diamond core drilling market. The contribution of these top 5 players in global market revenue, collectively, is estimated to be around 13.6%.

Key manufacturers are focusing on technological advancement and product customization which is expected to expand their regional footprints in the industry, spurring sales.

For instance, Barsele Minerals Corporation, on 7^th June 2021, announced the resumption of diamond drilling activities which included drilling for 3,000 meters to test orogenic gold and volcanogenic massive sulfides. The drilling exploration program is operated through a joint venture with Agnico Eagle Mines Limited.

The company also announced the acquisition of Agnico Eagle’s indirect 55% interest in the Barsele Project and upon completion of the drilling project, the company will take over Agnico Eagle Mines Limited, consolidating 100% control.

Also, in June 2021, another manufacturer, Tectonic Metals Inc. announced the company’s exploration plans, anchored by two oriented diamond drilling campaigns, Tibbs Gold Project and Seventymile Gold Project in Alaska. The company is using rotary air blast drilling to carry out the exploration program.

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Get More Insights on Global Diamond Core Drilling Market

The research report analyzes the demand for diamond core drilling across the globe. The diamond core drilling market has been analyzed with the COVID-19 impact, various macroeconomic factors, market trends & market background. As per Future Market Insights’ research scope, the market has been analyzed based on operation type, drilling type, drilling technique, end-use, and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market on both, the supply-side and demand side.

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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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Stainless Steel Welded Pipe Market to Grow At A 4.6% CAGR Through 2031, Exclusive Report by FMI

Global stainless steel welded pipe market is expected to reach US$ 16.36 Bn in 2021 with a stable long-term projection, according to latest insights from Future Market Insights, an ESOMAR-certified research and consulting firm. The report offers analysis of 20+ high-growth markets, providing detailed insights on the stainless steel welded pipe market’s growth in the next decade.

Since a few years, the stainless steel welded pipe market has grown at a rapid pace. This upward trend is expected to continue due to increased demand from the construction and automotive industries. Other applications for stainless steel welded pipes include petrochemical and fertiliser, oil and gas, and water supply and distribution.

Stainless steel’s superior physical and chemical properties, such as high ductility, resistance to high temperature ranges, and corrosion resistance, have enabled favourable sales growth.

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Since a few years ago, the stainless steel welded pipe market has experienced impressive growth. It is anticipated that this growth trend will continue because of rising demand from the construction and automotive industries. Other applications for stainless steel welded pipes include petrochemical and fertiliser, oil and gas, and water supply and distribution. The superior physical and chemical properties of stainless steel such as high ductility, resistance against high temperature ranges, and corrosion resistance have enabled favorable growth in the sales.

Surge in demand for stainless steel welded pipes from applications such as oil and gas will remain a chief growth driver due to the presence of oil rigs all over the globe. For the transportation of the fluid from one place to another, large quantity of pipes are required, which will drive the sales in the market. The same applies with the water supply and distribution segment because the demand is expected to surge amid rising need for uninterrupted water supply.

The replacement of old pipes with new stainless steel welded pipes can also provide a boost in the sales of stainless steel welded pipes. The substantial increase in the demand from the supplier side and from the end-use industries across the globe is propelling the stainless steel welded pipe market growth.

The use of stainless steel welded pipes in construction and automotive and power generation applications will create solid opportunities for growth. According to FMI, the construction sector is expected to account for nearly 29% of sales in the market by 2031. Investment in residential, commercial, and infrastructural construction projects will increase in the future, paving way for the expansion of the market.

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Key Takeaways

Stainless steel welded pipe market is expected to grow at 4.6% CAGR between 2021 and 2031
Investment in construction projects will remain a chief growth driver in the U.S., enabling it to account for nearly 72% sales in North America
Focus on improving public infrastructure will drive growth in the U.K. market at 5.5% CAGR between 2021 and 2031
India is expected to register increasing investment in water supply and distribution to ensure safe drinking water to all citizens and support industrialization. This will create attractive opportunities for stainless steel welded pipe sales
China will emerge as a highly lucrative market in East Asia, accounting for maximum sales of stainless steel welded pipes

“As competition continues to grow, companies operating in the market are likely to adopt strategies for strengthening their global footprint. Besides expanding operations across emerging nations, they are likely to focus on launching better quality stainless steel welded pipes to gain competitive edge” says FMI analyst.

Stainless steel welded pipe market is likely to grow at a moderate pace during 2021-2031. However, as it is a matured market, companies are expected to concentrate further on research and development activities to develop more in the field of construction, oil & gas and water supply and distribution, majorly focusing on the outer diameter required for the specific applications. Collaboration with local players and developing new technology in the form of advanced stainless steel welded pipes is a prime strategy expected to increase in popularity in the forecast period.

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Competitive Landscape

The market is fragmented, with key players accounting for approximately one fifth of the market share. These players are likely to invest in new technology developments and expansion of their networks in order to maintain their market shares. Some of the key players in the market are Marcegaglia, Sosta GmbH & Co. KG, ArcelorMittal S.A., Nippon Steel, Hyundai Steel Co., Ltd, Sandvik AB, Shanghai Metal Corporation, FROCH ENTERPRISE CO., LTD., F.E.R. Fischer Edelstahlrohre GmbH, YC Inox, JFE Steel Corporation, CSM TUBE spa, Guangzhou Pearl River Petroleum Steel Pipe Co., Ltd., Guangdong Lizz Steel Pipe Co, Ltd., Foshan Zhongde Stainless Steel Co., Ltd. & others.

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Below 30 Hp Centrifugal Water Pump Market Is Expected To Expand At A CAGR Of 5.3% | Future Market Insights

The below 30 Hp centrifugal water pump market is anticipated to increase, from US$ 37.1 million in 2022 to US$ 68.95 million in 2032. According to FMI, the market is expected to expand at a CAGR of 5.3% over the course of the projected period.

The demand for affordable and energy-efficient centrifugal water pumps is expected to rise over the forecasted period due to rising energy prices and growing environmental consciousness among end users.

With the increased capacity and efficiency required for residential and agricultural applications, sales of centrifugal water pumps under 30 HP are expected to rise.

The market is expanding primarily as a result of increased investments in infrastructure and housing construction. Because of the expansion of the water supply network and the increase in agriculture initiative operations, there is a growing demand for centrifugal water pumps with less than 30 HP.

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Below 30Hp centrifugal water pumps are the most used types of pumps in the world due to robust and effective nature. Below 30 Hp centrifugal water pumps find application in various large and small scale industries such as chemicals, construction, waste water treatment and agriculture. On the basis of application type, the market has been segmented into industrial, agriculture and domestic use. The domestic application segment accounted for around 40% revenue share of the overall Egypt below 30Hp centrifugal water pump market in 2014, and is expected to register a CAGR of 4.8% over the forecast period.

Agriculture application is estimated to grow at the fastest CAGR during the forecast period. Every application segment is further sub-segmented into monobloc, mini pump and submersible pump. Submersible pumps are widely preferred for all the above mentioned applications; however, monobloc pumps is expected to register a high CAGR over the forecast period. Submersible centrifugal water pumps are widely preferred in Egypt, and account for over 50% share of the Egypt below 30Hp centrifugal water pumps market.

This report covers trends driving growth of each segment and respective sub-segments and offers pricing analysis and insights for each pump type and their respective capacities. From the capacity perspective, segmentation is done on the basis of horsepower for all three types of pumps. A detailed pricing analysis is done for the same. The 25 to 30 Hp pump in the monobloc and submersible pump category are more preferred, while the 1 to 2 Hp capacity pumps account for over 50% share in the mini centrifugal water pump category.

Increasing investment in housing construction, infrastructure development, expansion of water supply network and increase in agriculture initiatives are some of the macro-economic drivers for the Egypt below 30Hp centrifugal water pump market. Political instability and price volatility are some of the factors restricting growth of the Egypt below 30Hp centrifugal water pump market. Prices of China-made centrifugal water pumps are relatively lower and this is one of the major concerns for global and regional players operating in this market. Adoption of photovoltaic powered centrifugal water pumps and solar powered centrifugal water pumps is trending in the Egypt below 30Hp centrifugal water pumps market.

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Key players in the Egypt below 30Hp centrifugal water pump market include Grundfos, KSB Pumps, Xylem Inc., Wilo, Flowserve Corporation, Calpeda and Omega Engineering Egypt. Egypt centrifugal water pump market is largely dominated by regional and local players, and these collectively account for around 70% share of the total centrifugal water pump market. Grundfos accounts for largest share among all others, followed by KSB Egypt and Wilo.

Key Players

Major players in the below 30 Hp centrifugal water pump market in Egypt include Grundfos, KSB Pumps Ltd., Xylem Inc., Wilo SE, Flowserve Corporation, Calpeda S.p.A, and Omega Egypt Co. The centrifugal water pump industry in Egypt is largely consolidated, as the regional and local players hold a collective revenue share of 70% of the total centrifugal water pump market in the country. Grundfos accounts for largest share in the centrifugal water pump market, followed by KSB Pumps Egypt and Wilo SE.

Key segments

By Application:

Industrial
Agriculture
Domestic

By Product:

Mini Pumps (0.5-30 HP)
Monobloc Pumps (0.5-30 HP)
Submersible Pumps (0.5-30 HP)

By Capacity:

0.5 Hp (minimum)
30 Hp (maximum)

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