Market Research Blog – Page 9459 – New Product Development

Global EUV Lithography Market Reach A Value Of US$ 22,978.6 Mn By 2029 | Future Market Insights

The global EUV Lithography sales were valued at around US$ 4,648.6 Mn by the end of 2021. The market is projected to register 21.5% CAGR between 2022 and 2029 reach a value of US$ 22,978.6 Mn by 2029.

Miniaturization of integrated circuits and microchips, elevated wafer production, and consistent growth of the semiconductors industry are anticipated to propel the adoption of EUV lithography into chip manufacturing across the globe. EUV lithography market is estimated for a staggering CAGR of 21.5% during the forecast period of 2022-2029.

Due to rising internet penetration and developing technology, FMI has identified Asia Pacific as a key market for EUV Lithography System. Over the forecast period, the region is expected to experience a value CAGR of 23.6 percent in the EUV Lithography market.

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Key Takeaways

Reduction of microchip sizes to incorporate them into shrinking semiconductors is one of the prime factors that resulted in the development of EUV lithography technology.
Emergence of artificial intelligence (AI), machine learning, industrial IoT (IIoT), and autonomous driving has been driving miniaturization of microchips, subsequently creating the need for EUV lithography in chip manufacturing.
Constant innovation, R&D, and retrofitting of installed systems to improve wafer production, are anticipated to remain key trends in the EUV lithography market.
Integrated device manufacturers (IDM) and foundries are projected to create bulk of the demand for EUV lithography systems, as they are responsible for majority of the microchip and integrated circuit (IC) demand across industries.
Acquisition of stakes in key technology-based companies to complement product development is anticipated to remain a prominent trend in the market.

Currently, many IDMs and foundries are cautious in the adoption of EUV lithography in chip manufacturing, given the infancy of the technology and high upfront costs. However, with continuous innovation and R&D, products are expected to become more efficient and cheaper.

EUV Lithography Market – A Monopoly

The EUV lithography market is led by a single manufacturer. ASML is the sole manufacturer of EUV lithography systems in the world today and holds a monopoly in the market. The company is focused on acquiring stakes in key companies, which provide supporting technology for the manufacturing of EUV lithography systems. It is also engaged in collaborations with solution providers to help in R&D and development of future generations of EUV lithography systems.

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Will EUV Dominate Lithography Systems?

In the present lithography market, EUVs are a new and upcoming technology, with the first commercial product being sold in 2016. Given their ability to process light onto microchips of very small surface and with the growing adoption of technologies demanding miniaturization of microchips, EUV lithography market is anticipated to capture a huge market share of lithography systems in the coming years.

Know More About Report Inclusions

Future Market Insights’ new market research report on the EUV lithography market includes global industry analysis for 2014–2021 and opportunity assessment for 2022–2029. The report details EUV lithography market demand by end use across three different regions, Americas, EMEA, and Asia Pacific.

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Table of Content

Executive Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply Side Trends

1.4. Technology Roadmap

1.5. Analysis and Recommendations

Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition

Key Market Trends

3.1. Key Trends Impacting the Market

3.2. Product Innovation / Development Trends

Key Success Factors

Read Full TOC…

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Global Workover Rigs Market – Major Revenue Gains are Expected by 2028 | Get Insights FMI

The Workover Rig are the tower hoist held with wires required for well intervention operations once the productivity of initial well in place decreases. The Workover Rigs are also known as completion wells or pulling units generally used for replacing an already placed well with a fresh completion.

The Workover Rigs perform various operations such as handling rod and tubing work and other associated activities mainly to enhance the well output and perform plug and abandonment services. The Rigs are highly mobile as they are moved to the oilfields of the exploration companies.

The Workover Rigs are incorporated with the groove that ensures proper aligning during the operations and are available in different sizes and capacities depending upon well depth and load requirement. As Workover Rig market is currently held by limited large oil & gas service providers, the new players are offering highly customized services to the oil producers to penetrate into the market. The stability in oil prices after recent downfall will create notable positive impact over the demand of Workover Rigs due to anticipated increase in production activities across the globe.

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Workover Rigs Market: Drivers and Restraints

The Workover Rigs market will remain attractive over the forecast period owing to rising consumption of petroleum products. As a result, the Exploration and Production (E&P) located globally will increase their investment due to increasing demand and positive outlook of the oil and gas market.

The ongoing rise in oil prices can be regarded as new phase for the companies operating in the sector. Adding to this, the participants are looking to attain growth through domestic and international expansion as well as adding new production related services. As Workover Rigs providers play important role in the production operation making them key segment in the reviving upstream sector and hold massive share in the overall spending of the companies.

Moreover, the investment from government as well as private sector in the drilling activities is also expected to rise and surge in shale gas production is expected to fuel the growth of the Workover Rigs market in the coming years. The oversupply of Workover Rigs in the cyclical oil & gas market is one of the major restraint to the market.

However, the industry has recovered successfully from the recent oil price crisis and industry outlook will remain positive in the coming years. One of the major trend in the market will use of environment friendly Workover Rigs. The government authorities are directing energy companies to decrease carbon footprint that will shift the focus of the companies towards use of components that run renewable energy in the coming years.

Workover Rigs Market: Regional Outlook

The global Workover Rigs market is segmented into seven key regions: North America, Latin America, Western Europe and Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA). In the coming years, the planned oil field developments in the MEA region along with high current production activities will drive the demand of Workover Rigs from the contractors.

The North America Workover Rigs demand will continue to growing owing to shale continuous growth of shale fields in the region. The APEJ, Europe, Latin America and Japan will also witness growth opportunities registering healthy CAGRs over the forecast period as oil and gas market will move towards full recovery.

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Workover Rigs Market: Market Participants

Examples of some of the market participants identified across the value chain of the global Workover Rigs market include:

Mesa Southern Well Servicing
Sun Well Service, Inc.
Nordic Gulf
Drillmec Drilling Technologies
Automated Rig Technologies Ltd
Moncla Companies
San Antonio Internacional
Eastern Well Services
MBI Energy Services
Superior Energy Services

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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Workover Rigs Market: Segmentation

On the basis of type, the Workover Rigs market can be segmented into:

Barge Rigs
Tender Rigs
Jack ups Rigs
Platform Rigs
Semi-Submersible Rigs
Drill Ship

On the basis of capacity, the Workover Rigs market can be segmented into:

Below 1,000 Horsepower (HP)
1,000-1,500 Horsepower (HP)
Above 1,500 Horsepower (HP)

On the basis of form, the Workover Rigs market can be segmented into:

Single Drum
Double Drum

On the basis of application, the Workover Rigs market can be segmented into:

Onshore
Offshore

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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.

Radial Piston Pumps Market Material Improvements to be Major Focus By Market Players, Says FMI

Essential in the functioning of equipment such as fertilizer injectors, test oil rigs, and liquid transmission systems, radial piston pumps are increasingly seeing applications in numerous industries which need to transport liquid materials such as oil, chemicals, adhesives, and various kinds of lubricating fluids. With the increasing research efforts by radial piston pumps market players on material improvements to improve durability and performance, the market is expected to see healthy rate of growth through the forecast period.

Radial piston pumps are finding increased application in commercial vehicles of different sizes and configurations. With the recent rise in the growth of the global automotive industry, the demand in the radial piston pumps market is also expected to witness a significant boost in the years to come.

The increasing essentiality of radial piston pumps in the ever expanding oil and gas industry is also anticipated to generate a high rate of demand in the radial piston pumps market. This is increasingly true with the advent of non-traditional soil and gas sources such as shale, which has seen tremendous growth in countries like the United States in recent years. With manufacturers increasingly focusing on new materials for performance improvements the radial piston pumps market is anticipated to see an upsurge.

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Material Improvements to be Major Focus of Radial Piston Pumps Market Players

Key players in the radial piston pump market including Polyhydron Pvt. Ltd, Bosch Rexroth, Hydac Technology Ltd., HAWE Hydraulic SE, Larsen & Toubro Ltd., and H. Sheppard Co. Inc., among others, are increasingly focused on the development of new materials and designs for radial piston pump equipment and machinery.

Bosch Rexroth AG’s R4 range of fixed displacement radial piston pumps come in a variety of sizes with 3 to 10 pistons. The design is allows self-priming and valve-controlled operations made from corrosion-resistant galvanized steel leak-resistant seals to provide an optimum operating range.
The RKP-D range of radial piston pumps from Moog Inc. eliminates the need and the use of the usual central control hardware, through the application of a unique intelligent control mechanism that optimizes the control of the pump through a hydraulic system.
The R and RG types of radial piston pumps introduced by HAWE Hydraulic SE, come with a highly compact design with up to 6 parallel radials in the design, closed pump housing and 14 different pressure outlets for better safety, durability, and versatility of use.

North America Radial Piston Pumps Market to Witness Significant Growth Owing to a Rising Shale Industry

The rapid growth of shale for the oil and gas industry in North America is anticipated to significantly boost demand for radial piston pumps in the region. In addition to this, a strong presence of key market players in the region is also expected to help in radial piston pump market growth.

Increasing industrialization of emerging economies of the Asia Pacific and Latin America including Brazil, India, and China are anticipated to see a steady demand for radial piston pumps in various end user industries including pharmaceuticals, chemical and automotive.

The discoveries of new sources of oil within the Middle East and Africa are also providing opportunities for market growth in the near future.

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Segmentation of the Global Radial Piston Pumps Market

Radial piston pumps can be broadly divided on the basis of end use industries, designs, and type of displacement. On the terms of end use industries, radial piston pumps can be divided into automotive, chemical, mining, industrial equipment & machinery, plastic, oil & gas, packaging, and pharmaceutical among others. On the basis of designs, radial piston pumps can be divided into multi-stage pumps and single pumps. On the basis of type of displacement, radial piston pumps can be divided into variable displacement pumps or fixed displacement pumps.

The report here on provides an extensive analysis on the radial piston pumps market at a regional and global level with data validated by research on different business factors including competitor scenario and business opportunities.

The report contains information on

Market Drivers: Factors that greatly impact the market
Demand and Supply
Competitive Analysis: Strategy used by market players
Trends and Obstacles: Common challenges and popular trends
Market Segmentation: Major divisions in the business
Technology: Tech innovations that effect market change

Thorough first-hand research was crucial in developing this report on the global radial piston pumps market, including data such as market trends, economy, and market attractiveness, as understood through interactions with industry analysts.

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Analysis of regional markets

Middle East and Africa radial piston pumps market (GCC Countries, N. Africa, S. Africa, Rest of MEA)
Western Europe radial piston pumps market (France, Italy, Spain Germany, U.K.)
Eastern Europe radial piston pumps market (Russia, Poland)
Japan radial piston pumps market
Asia Pacific excluding Japan radial piston pumps market (Australia, New Zealand, ASEAN, India, China)
North America radial piston pumps market (Canada, U.S.)
Latin America radial piston pumps market (Mexico, Brazil, Rest of Latin America)

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Ultrasonic Testing Market In-Depth Analysis with Booming Trends Supporting Growth and Forecast 2028 | FMI

Rising number of aging infrastructure, leading to surging new infrastructure development has been resulting in growing demand for professional NDT technicians. Increasing number of applications of ultrasonic testing across aerospace and defense sector for detecting internal flaws with higher accuracy and rapidly surging need for automation in the manufacturing industries has been driving APAC ultrasonic testing market.

This in turn is expected to substantially drive the growth of APAC ultrasonic testing market. India ultrasonic testing market is witnessed as making heavy investments in R&D of power grid infrastructure for expanding their electricity network towards almost each household. Major infrastructure undertakings in U.S. across various verticals such as transportation, power generation and aerospace is expected to fuel the growth of North America ultrasonic testing market.

Surging demand for the reliable non-destructive technique in the manufacturing of carbon fiber composite and fiberglass is expected to be one of the most important factor driving the growth of ultrasonic testing market. Increasing number of testing cases in nuclear power plants for ensuring safety while construction events is expected to further support the growth of ultrasonic testing market. Renting ultrasonic testing equipment is expected to gain significant traction in ultrasonic testing market.

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Demand for rental ultrasonic testing equipment is expected to increase from small and medium sized companies, which in turn has been influencing the vendors as well on provision basis. However, dearth of skilled technicians and professionals for testing and maintenance of the equipment is likely to restrain the growth of ultrasonic testing market.

Minimizing Inspection Time to Be Key Focus of Ultrasonic Testing Market Players

Olympus Corporation: The ultrasonic testing market player has recently announced launch of higher-sensitivity SpinSR10 microscope that provides better brightness being a superior model. This microscope helps in identifying internal cell structure even in minute details. The higher-sensitive SpinSR10 microscope is expected to significantly contribute towards biological and medical research where the observation of fine structures has turned out to be comparatively critical. Development of this model is expected to notably benefit during long-term observations, thereby benefitting the healthcare industry, resulting in growth of ultrasonic testing market.
Eddyfi UK Ltd.: The ultrasonic testing market player has introduced its new building in Espace d’innovation Michelet, for radiating Eddyfi Technologies brand on an international basis. The company has invested nearly CA$14 M for stimulating this workplace. In a bid to expand its business operations and work-experience, the company is taking immense efforts in making ways for offering high-performance solutions for inspection of crucial assets and components, which in turn is expected to benefit the ultrasonic testing market as well.
TIAA Bank: The ultrasonic testing market player has lately acquired healthcare equipment financing portfolio from Healthcare Equipment Finance business of GE Capital. This in turn benefits TIAA Bank in expanding its commercial banking business as well as enhances its ability for offering full-range financial solutions to the institutional clients, by serving them with higher number of healthcare suppliers. A 5year supplier financing agreement has been finalized between the two companies which will be strengthening TIAA Bank’s services for the healthcare institutions. This in turn is expected to create lucrative growth opportunities for ultrasonic testing market with regarding to revenue sales growth.

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Classification of the Ultrasonic Testing Market Has Been Done Based on End-Use, Equipment and Type

Ultrasonic testing market research report offers comprehensive assessment of the global market and also comprises of insightful facts and data with industry evaluated and statistically backed market data.

The global report further consists of forecast data by means of suitable techniques and set of predictions. In addition, ultrasonic testing market research report provides data and study based on market categories such as industries, applications as well as regions.

Detailed Analysis of the Ultrasonic Testing Market Research Report Involves

Value chain in ultrasonic testing market
Technological innovations
Companies involved
Trends and challenges happening in the ultrasonic testing market
Supply and demand
Sizing of global market
Dynamics of ultrasonic testing market\
Segmentation of the global market

Analysis of Regions in the Ultrasonic Testing Market Research Report Is Inclusive of

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

Ultrasonic testing market research report presents study based on quantity and quality along with first-hand by the industry analysts. Detailed information from industry experts as well as participants has been received and incorporated in the global report. Research report offers in-depth study on the governing and macro as well as micro-economic factors along with parent market trends. In addition, the global report delivers qualitative impacts of different regions and segments on the market.

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By end-use, ultrasonic testing market is categorized into

Defense
Aerospace
Healthcare
Automotive
Oil & gas
Construction
Manufacturing
Others

By equipment, ultrasonic testing market is categorized into

Industrial Inspection Systems
Industrial Scanners
Transducers and Probes
Thickness Gauges
Flaw Detectors
Others

By type, ultrasonic testing market is categorized into

Guided-Wave Testing
Immersion Testing
Phased Array
Non-Destructive Testing
Others

Points of Focus in the Ultrasonic Testing Market Research Report

Must-have information benefitting the key players
Impartial viewpoint on market performance
Regional and segmental promising growth
Competitive landscape
Industry developments and trends
All time market sizing based on value and volume
Detailed market segmentation
Shifting market dynamics
Parent market overview

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Important Trends Influencing The Market For Environmental Testing, Inspection, And Certification

The global environment testing, inspection, and certification market was worth US$ 15,648.6 million in 2021 and is expected to be worth US$ 17873.8 million in 2022. Furthermore, as environmental concerns grow around the world, the overall demand for environmental testing, inspection, and certification is expected to rise at a 6.4% CAGR between 2022 and 2032, totalling around US$ 33,237.9 Mn by 2032.

Greater natural resource management, environmentally friendly fiscal policies, environmentally friendly marketplaces, and efficient waste management programmes are required globally to ensure sustainable growth. Regulatory regulations are being developed by numerous national and international governments in order to regulate healthy ecosystems and control air, water, and soil pollution. The market for environmental testing, inspection, and certification is expected to grow at a rapid pace over the next ten years as a result of increased government rules and standards.

Similarly, rising consumer awareness about product quality due to the deterioration of resources such as water and soil will drive market growth for environmental testing, inspection, and certification.

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What are the Key Trends Driving the Environment Testing, Inspection, and Certification Market?

“Key Regulations by Several Government Regulatory Bodies to Drive the Market Growth”

Energy-intensive production methods are reducing the ability of natural resources by degrading local environments, ultimately contributing to global climate change. To control the degradation of natural resources such as fossil fuels, soil, and air, governments are imposing stringent regulations on products and their manufacturing processes.

In order to ensure the safe execution of the products, manufacturers and leading companies are focusing on complying with the stringent regulations and standards set by the government. This will continue to push the demand for environmental testing, inspection, and certification during the forecast period.

“Increasing Demand for Soil Inspection to Supplement the Market Growth”

Due to growing awareness of sustainable and healthy lifestyles, consumers are expecting high-quality agricultural products. The demand for organic and high-quality agricultural goods has also been boosted due to the COVID epidemic.

Continuous usage of soil often results in decrease in the quality and characteristics of the soil as well as the crops. To address this issue and add particular agrochemicals to soil, various testing and inspection services are being adopted.

Manufacturers are concentrating on soil testing and inspection, which is predicted to boost the market, as manufacturing and import-export of goods are increasing in several countries. Soil testing is estimated to hold a share of about 15.3% in 2022. The service providers have chosen to test their products internationally due to the growing necessity to ensure product safety and high quality.

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The growing need for premium quality and safe products has led to an upsurge in demand for testing the products among organizations and manufacturers globally. Based on product type, the testing segment is projected to witness significant revenue growth, representing more than US$ 1,000 Mn by 2017-end. In contrast, the certification product type segment is projected to register a robust CAGR throughout 2026. On the basis of end-user, the agriculture industry segment is projected to represent the highest revenue growth, accounting for more than US$ 1,000 Mn by 2026-end. However, the industrial product manufacturer product type segment is projected to reflect a healthy CAGR over the forecast period.

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

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Japan Will Account For 3% Of Global Market For Transformer Monitoring Systems – FMI

In 2022, the market for transformer monitoring systems is anticipated to be worth US$2,785.2 Mn. By the end of 2032, it is anticipated to have grown at a CAGR of 8.9%, placing a value of US$ 6,539.2 Mn.

Recent years have seen an increase in electricity consumption due to rapid urbanisation and increased industrial activity. As the world moves toward smart grids for more efficient power distribution, the demand for transformer monitoring systems is expected to rise over the forecast period. According to FMI, revenue from transformer monitoring systems will increase at a CAGR of 10.1 per cent between 2021 and 2031.

The transformer monitoring system is a process-oriented system that measures quantities such as voltage and current, estimates measurement data using an algorithm, generates trends, and monitors models. During the assessment period, the introduction of internet of things (IoT)-based smart transformer technologies will boost the market growth.

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Green transformers are gaining popularity due to their low carbon footprint and high efficiency and reliability. To monitor these new transformers retrofit installations are required. Increasing renewable energy penetration and rising sales of green transformers will accelerate the demand for retrofit transformer monitoring systems in upcoming years.

According to International Energy Agency, global electricity consumption reached 22,848 TWh in 2019. China, India, Russia, and Brazil account for more than 39% of global consumption. The rise in electricity consumption in developing countries will boost market sales over the forecast period.

Top manufacturers are striving to reduce the installation cost of the monitoring system and make them more reliable and accurate. However, unpredictability in terms of regulatory policies and strained supply chain systems are the key challenges influencing the global market for transformer monitoring systems.

Key Takeaways from FMI’s Transformer monitoring system Market Study

The north American transformer monitoring system market will exhibit stupendous growth at 10.6% CAGR through 2031, due to rapid industrialization, and the growing necessity to upgrade monitoring systems concerning transformers in U.S. and Canada.
The Europe transformer monitoring system market led by Germany is forecast to grow at 7.6% CAGR during the forecast period. The rise in growth can be attributed to the rising adoption of green transformers and the presence of leading manufacturers in the region.
The incorporation of modern monitoring systems to tackle power outages and related issues in urban areas will drive the demand for transformer monitoring systems in India.
Japan and South Korea account for 3% of the global transformer monitoring system market share in 2021. The increasing need to monitor large and complex power networks and the high demand for retrofit installation are key growth drivers in these countries.
By product type, the software segment is projected to surpass the market valuation of US$ 277 at a CAGR of 10.3% in 2021. Advancements in big data analytics and the introduction of the internet of things (IoT) in monitoring systems will drive the market growth of this segment.

“It will be interesting to see how modernization in electricity transmission systems will influence the demand for transformer monitoring systems during the forecast period. The rising necessity to upgrade monitoring systems to comply with green transformers will boost the market growth in upcoming years,” says the FMI analyst.

Prominent players operating in the transformer monitoring system market are:-

ABB Group
Siemens AG
General Electric
Mitsubishi Electric Power Products Inc.
Eaton Corporation
Hitachi Ltd.
Qualitrol Company LLC
Koncar-Electrical Engineering Institute Inc.
Maschinenfabrik Reinhausen GmbH (MR)
CETT Co., Ltd.
Groupe Cahors
Camlin Power
MTE Meter Test Equipment AG
Advanced Power Technologies LLC

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Competitive Landscape

Due to the presence of a small number of players worldwide, the global market for transformer monitoring systems is highly consolidated. Manufacturers of transformer monitoring hardware systems operate in the organised sector and benefit from excellent manufacturing capabilities, consistent cash flow, strong supply and distribution networks, and stable long-term customer relationships.

Many industry players are strategically focusing on the release of new software with cutting-edge features like remote monitoring systems and IoT. In order to supplement their revenue growth and increase their market shares, they are also taking part in acquisition and partnership activities.

For instance,

In April 2022, GANZ Transformers and Maschinenfabrik Reinhausen cooperated as solution providers, signing a contract for close cooperation in the development and production of intelligent transformers.
In October 2021, Hitachi Energy announced the introduction of ‘EconiQ transformers’ reinforcing its purpose of ‘advancing a sustainable energy future for all’.

More Insights on the Transformer monitoring system Market

In its latest report, FMI offers an unbiased analysis of the global transformer monitoring system market, providing historical data from 2017 to 2027 and forecast statistics for the period of 2021-2031. To understand the global market potential, its growth, and scope, the market is segmented based on by product type (hardware and software monitoring system), by application type (dissolved gas analysis, partial discharge, bushing monitoring, cooling control, and voltage regulation system), by installation type (newly installed units and retrofit units), by end-use (power transformers, distribution transformers, and other transformers), and by region (North America, Latin America, Western Europe, Eastern Europe, the Asia Pacific excluding Japan, Japan, and the Middle East & Africa)

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Water Softening Systems Installation in Healthcare and Industrial Sector Set to Spur Demand

By the end of 2021, the water softening systems market will be worth US$10.82 billion. According to Future Market Insights’ (FMI) analysis, there will be a 4.5% annual growth between 2020 and 2021. For the forecast period of 2021–2031, projections for a healthy rate of growth remain unchanged.

Water softening systems Market sales uptick is on card owing implementation of government-sponsored initiatives such as the expansion of smart cities and clean water initiative. Focus on the prevention of water contamination and ensuring availability of clean, soft water for all will remain a chief growth driver.

Geographically, the U.S., Canada, and the U.K. are considered to be key areas where water-related concerns are on a rise, which is encouraging market players to launch innovative and efficient water softening systems to curb the problem.

In addition to the residential sector, growth in application in healthcare, pharmaceuticals, food & beverage, and semiconductor industries are also driving demand for water softening systems.

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Other countries such as India, China, and South Korea, which are witnessing growth in commercial and industrial sectors amid rapid urbanization, will emerge as attractive pockets for sale. Government-funded projects for public health, sanitization, and cleanliness are creating demand for water softening systems, thereby propelling sales.

Rising water quality awareness and government-led initiatives such as smart cities, combined with non-governmental initiatives promoting water sanitation and public health, will drive demand in emerging markets such as India, China, South Korea, and Brazil.

Application will continue increasing in the residential sector. FMI sees impressive prospects for non-electric water softening systems sales across households. Government policies adopted towards making clean water available for all will continue aiding sales growth in this segment.

“Conscious efforts to spread water quality awareness led by government and non-profit organizations, along with product innovations in water softening systems aimed at providing better efficacy and enhanced performance will augment market growth in the upcoming decade,” says the FMI analyst.

Key Takeaways from Water Softening Systems Market Survey

Based on design, twin-cylinder water softening systems will dominate the market.
Residential sector will experience increased adoption of water softening systems throughout the assessment period.
The U.S. will continue dominating the market due to the high concentration of market players.
Sales outlook in the U.K. is projected to be positive with increasing applications of water softening systems in households.
India will emerge as a lucrative market for sales of water softening systems, owing to growing awareness regarding water quality in the country.

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Competitive Landscape

EcoWater Systems LLC, Culligan International Company, Kinetico Incorporated, Hydroflux, Envicare Technologies Pvt. Ltd., Wychwood Water Systems Ltd., Harvey Water Softeners Ltd., Pelican Water Systems, BWT AG, Marlo Incorporated, Monarch Water Ltd., Qingdao Haier Co., Ltd., Atlas Filtri, Watts Water Technologies Inc., Feedwater Limited and Canature Health Technology Group Co Ltd. are among the top manufactures in water softening systems market, as profiled by FMI.

To manufacturers of water softening systems account for approximately 1/5^th of the total sales of water softening systems. Lucrative strategies adopted by key players include new product launches, site expansions, mergers, acquisitions, and collaborations. For instance

In May 2021, Culligan International was acquired by BDT Capital Partners, LLC, entering its next phase of growth by accelerating consumer strategy and extend its international footprint by innovating products with digital growth initiatives.
In April 2021, Watts Water Technologies launches a new brand ‘Lync’ to provide solutions that address growing concerns in commercial buildings regarding water quality and preventing risks of infections from water-borne pathogens, while ensuring reliability and durability in the long run.

More Insights on the Water Softening Systems Market

In its latest report, FMI offers an unbiased analysis of the global water softening systems market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of operation type (electric and non-electric), application type (residential, industrial and commercial), design (mono cylinder, twin-cylinder, multi-cylinder), and across seven regions (North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan (APEJ), Japan, and Middle East & Africa).

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Water Softening Systems Market by Category

By Operation Type:

Electric
Non-Electric

By Application Type:

Residential
- Salt-based
- Salt-free
Industrial
Commercial

By Design:

Mono Cylinder
Twin Cylinder
Multi-Cylinder

By Region:

North America
Latin America
Eastern Europe
Western Europe
Asia Pacific excluding Japan
Japan
Middle East and Africa (MEA)

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Positive Displacement Pump Market Size to be worth US$ 21 Billion by 2032: Future Market Insights

Positive displacement pumps are used to transfer fluids in inter and intra facilities. Global positive displacement pump market is set to be valued at over US$ 2.6 Bn in 2021, with a stable long-term projection, according to latest insights by Future Market Insights (FMI).

Companies have introduced new pumps that adhere to the standards set by organisations like the Bureau of Food Standards because the food and beverage industry demands food-grade pumps. The market has evolved over time in terms of material and design innovations. As a result of developments in material sciences, businesses have released products that can withstand noticeably greater pressure.

According to the report, the market will grow at a CAGR of around 4% between 2021 and 2031. Positive displacement pumps are in high demand as the oil and gas and water distribution industries grow.

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Positive displacement pumps are important equipment used for ensuring accurate and repeatable transportation and pumping operations. Market leaders are investing in refineries for oil-based products to increase their regional presence and market share.

Positive displacement pumps have seen a significant rise in demand over the last few years. To meet the increased demand, manufacturers are planning to build new manufacturing units or expand existing infrastructure.

Demand for positive displacement pump waned in 2020 due to the COVID-19 pandemic. However, the water and wastewater segment of the industry sowed less due to the latest guidelines issued by World Health Organization (WHO) which bodes well for the sales of these equipment in future. Despite the risk of a stimulus in many countries, the market’s long-term outlook is optimistic.

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Key Takeaways from Positive Displacement Pumps Market Study

Reciprocating positive displacement pumps are expected to hold close to 69% of the overall market, driven by cost benefits.
Oil and gas applications are projected to account for over two-fifths of the overall market share owing to extensive applications in associated refinery facilities.
The market in the Germany is projected to expand at a CAGR of around 5%, supported by increasing investments in infrastructure for oil & gas imports.
Sales of positive displacement pumps in the U.S. will account for over 65% of the North America market by the end of 2031.
The emerging markets such as Spain will exhibit steady growth at 5.3% CAGR over the next ten years.

“The surge in demand from the global oil & gas industry for positive displacement pumps in recent years is expected to support market growth, especially in emerging economies such as India and China. Against this backdrop, the market players are likely to increase their investment towards expansion in the developing countries,” says a Future Market Insights analyst.

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Competitive Landscape

The market is highly consolidated, with key players accounting for more than four-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 this industry include but are not limited to Grundfos, Ebara Corp., Flowserve Corporation, WILO SE, Xylem Inc., The Weir Group Plc, Ruhrpumpen Group, Sulzer AG, Dover Corp., and KSB Group.

Applications in the power generation and chemical sectors played significant roles between 2016 and 2020. According to FMI, the oil and gas industry is expected to grow at a healthy rate in economies such as China, India, the Middle East, and Africa.

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Table of Content

Executive Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply Side Trends

1.4. Analysis and Recommendations

Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

Key Market Trends

3.1. Key Trends Impacting the Market

3.2. Product Innovation / Development Trends

Key Success Factors

4.1. Product Adoption / Usage Analysis

4.2. Product USPs / Features

4.3. Strategic Promotional Strategies

Read Full TOC…

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The Industrial Pc Market Will Be Worth More Than Us$ 9.4 Billion By The End Of 2032

The size of the global stacker crane market was valued at US$ 976 million in 2021 and is anticipated to reach US$ 1 billion in 2022. Additionally, due to the rapid growth of end-use industries and the rising popularity of automated stacker cranes, it is anticipated that global sales of stacker cranes will increase at a strong CAGR of 7.0 percent from 2017 to 2032, reaching approximately US$ 2.02 Bn.

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Key Takeaways

The manufacturing operations of many industries, including semiconductors, consumer electronics, and automotive, are predicted to grow dramatically in the APAC area.
In the year 2021, the industrial PC market size in the United States was worth US$ 1.1 billion.
China, the world’s second-largest economy, is expected to reach a market capitalization of US$ 901.7 million by 2026, representing a 6.5 per cent CAGR over the study period as per the emerging trends in the industrial PC market.
Japan and Canada are two other critical geographic markets, with forecasted growth rates of 3.5 per cent and 3.9 per cent, respectively, over the analysis period.
Over the projection period, the Semiconductor & Electronics segment is expected to increase at a rapid pace.

“Manufacturing companies witness a high demand for industrial IoT as the manufacturing sector steadily moves toward digitalization with increased awareness of resource optimization in manufacturing firms, and robust regulatory necessities to safeguard protection and reliability in production plants are all driving market growth.”—opines a FMI analyst.

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Competitive Landscape

Leading industrial PC producers like IEI integration Corporation and Advantech Solutions are constantly concentrating on creating cutting-edge products that can successfully meet end-user demands. Additionally, they are implementing growth strategies to gain a competitive edge in the global industrial PC market, including partnerships, acquisitions, new product launches, collaborations, etc. For example,

Advantech, a top provider of industrial computing platforms, introduced its new TPC industrial panel PCs of the TPC-300 series in November with a focus on IoT and machine automation.
Onlogic, a leading manufacturer of industrial computer hardware and an IoT service provider, unveiled rigged industrial computers running 12th Gen Intel Alder Lake in January 2020.

Key Segments

By Type:

Panel IPC
Rack Mount IPC
Box IPC
Embedded IPC
DIN Rail IPC

By Sales Channel:

Direct Sales
Indirect Sales

By End-use Industry:

Process Industries
Discrete Industries

By Region:

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

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Explore wide-ranging Coverage of FMI’s Industrial Automation Market Insights Landscape

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Automatic Paper Cutter Market – Automatic Paper Cutter Market by Model, Application, and Region – Forecast 2022-2032

Aseptic Fillers Market – Aseptic Fillers Market by Technology Type (Automated Aseptic Fillers, Semi-Automated Aseptic Fillers), Head Type (Single Head Aseptic Fillers, Double Head Aseptic Fillers and Multi Head Aseptic Fillers), Package Type (Cartons, Bottles, Cans, Bags, Pouches, Vials, Ampoules, Pre-Filled Syringes and Others), End Use (Food and Beverage Industry, Pharmaceutical Industry and Healthcare Industry), & Region- Forecast till 2032

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The Market For Electrical Digital Twins Is Expanding At A 12 Percent CAGR.

As per a new market research report on the electrical digital twin market published by Future Market Insights, the sales of electrical digital twin will advance at a CAGR of 12 percent from US$ 0.9 billion in 2021 to US$ 3.13 billion in 2032.

The increased acceptance of innovative technologies such as IoT and cloud for digital twin applications and attractive digital twin prospects in industries such as aerospace and defense, healthcare, and automotive and transportation are driving demand for electrical digital twin.

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The digital twin is being used in various industries, including automotive, construction, and manufacturing. In addition, firms in these industry verticals are continually leveraging digital twin systems and technologies to evaluate the performance of physical assets and highlight where changes and enhancements are needed to achieve beneficial outcomes.

This aspect is driving many businesses to embrace digital twin software, and it is expected to propel the industry forward in the following years.

Digital twin technologies are being increasingly adopted in various industries, including automotive, manufacturing, energy & utilities, and others, and this is expected to fuel market expansion in the coming years. In addition, the growing adoption of electrical digital twin technology by researchers and medical practitioners to create novel platforms that can enhance care delivery through better patient monitoring is projected to boost the market growth in the following years during the coronavirus crisis era.

Adoption of electrical digital twin necessitates significant investments, collaboration, and long-term willingness on the operator’s part. To maintain a digital twin, operators must develop the necessary technology infrastructure, such as robust IoT deployments and simulation platforms, and integrate data sources from various departments and IoT contextual systems. The extensive use of components of electrical digital twin by diverse stakeholders in the power sector is hampered by these considerations.

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Due to a shortage of experienced workers, significant initial investments are necessary for installation and significant maintenance costs, and this factor is restricting the market’s growth in the predicted years.

Key Takeaways

The increase in spending for the implementation of advanced digital technology to modernize old power generating and distribution infrastructure is propelling the development of the North American electrical digital twin market share.
The system digital twin type sub-segment accounted for the bulk of the worldwide customer base of all the components of digital twin and is expected to maintain its dominance during the forecast period.
This dominance is mainly due to the widespread use of system digital twin by various industries, including automotive, manufacturing, oil & gas, energy & utilities, and other verticals, to uncover new revenue-generating potential by lowering costs and improving customer service.
Owing to cloud-based solutions offer numerous benefits, such as scalability, flexibility, cost-effectiveness, and low energy consumption, their adoption rate is growing at a remarkable pace across organizations.
The cloud sector of the electrical digital twin market size is anticipated to advance at a healthy CAGR during the forecast period.
The primary electrical digital twin categories in the industry are digital gas and steam power plants, digital grid, wind farm, hydropower plants, and distributed energy resources.

“Increasing R&D efforts and technical advances are two significant market trends driving the expansion of the electrical digital twin business.”

Competitive Landscape

As per the global market study on the electrical digital twin market, the increase in investments for the implementation of advanced digital technology to modernize old power generating and distribution facilities is propelling the development of the North American market. In addition, improved R&D in the fields of cloud, big data analytics, IoT, and IIoT and rising demand for optimal and cost-effective innovations to enhance asset performance and optimize corporate operations are all contributing to regional market expansion.

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Electrical digital twin market key trends & opportunities put ANSYS, Inc., Cal-Tek Srl, GE Digital, Emerson Electric Co., Siemens AG, Cityzenith, International Business Machines Corporation, Wipro Limited, and Oracle Corp as follows: the key participants.

The active companies in this industry have chosen product development and new technology as their primary tactics. IBM, Microsoft, GE, and Siemens increase their R&D spending to develop new products and technology

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