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The market for passenger boarding bridges was valued at US$ 1.88 billion in 2021, and by the end of 2029, sales are projected to reach US$ 3.10 billion. The demand for passenger boarding bridges is being driven by the aviation industry’s rapid automation and growing emphasis on safety measures.

Between 2022 and 2029, demand in the passenger boarding bridge market is anticipated to grow at a CAGR of 8%. Manufacturers of passenger boarding bridges will see opportunities for growth as passenger travel increases, particularly between emerging economies.

Through 2022 and beyond, Europe is anticipated to be the most lucrative regional market for passenger boarding bridges, followed by North America. In 2022, the global sales of passenger boarding bridges are anticipated to increase by over 27.9% in Europe.

Market Insights (FMI), in its latest study, underlines the growth trail of passenger boarding bridge market for the foreseeable period 2022-2029. According to the report, passenger boarding bridge market witnessed sales of 1,549 units in 2021, equaling revenues worth ~US$ 600Mn. As innovation makes notable inroads in the aviation industry, manufacturers of passenger boarding bridge are under high-press to develop technologically-advanced and convenience-centric offerings.

Strong outlook of the global airport infrastructure construction, coupled with the escalating convenience expectations of passengers, is shaping the dynamics of the passenger boarding bridge market.

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Getting everyone on board in a safe and sound way has garnered increased traction of airport authorities, in line with the substantial rise in the air traffic over the years. Safety and ease have taken the center stage in every PBB development process, with companies vying to offer a win-win offering to passengers and operators, alike. It will be unsurprising to witness a large number of advanced PBBs, as market players shift their focus on development of AI-based automatic jet bridges that eliminates the need for skilled individuals, to close the gap between 10 cm.

Market players have been strategically devising approaches and investing in developing a differentiated passenger experience, to win the price war and appeal a wide pool of end-users. As automation of operational processes becomes an increasingly commonplace in the airports, it is highly likely for the market to witness substantial optimistic waves of change in the manufacturing of jet bridges.

As per the study, mobile telescopic bridges are witnessing increased traction from airlines, which led to sales of ~1,500 units in 2021, owing to their high flexibility and advanced features. An increasing number of companies have shifted their preference to mobile telescopic bridges over T-bridges, as the former can accommodate a wide range of aircrafts, while allowing easy installation as per various apron configurations.

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The study opines that as airports are increasingly shifting their objective towards providing a luxury experience to passengers, the demand for glass walled passenger boarding bridges has grown significantly.  The aesthetic aspect of glass-walled passenger boarding bridges, which lies in the fact that these bridges make the experience of boarding the aircraft less confining has been pushing their adoption across an increased number of airports. As per the study, glass walled passenger boarding bridges accounted for ~65% market volume share in 2021.

By Key Segment:

Product:

• Telescopic Bridges
• T-Bridges

Structure:

• Steel-walled
• Glass-Walled

Type:

• Fixed
• Movable

Drive System:

• Hydraulic System
• Electro-Mechanical System

Region:

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

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Developing Regions – Hotbed of Opportunities for Stakeholders 

In view of the growing lucrativeness of developing regions, such as Asia Pacific, leading players in the passenger boarding bridge market have placed their focus on securing contract for PBB supply in these countries. Asia’s proliferating commercial aviation sector has positioned the region as the largest and fastest growing market for airport infrastructure investments in the world. Several partakes have already shifted their goal coasts to Asia Pacific, and managed to obtain long-term supply contracts in the region. For instance, In September 2017, ADELTE landed in India with a contract for 12 airports, while seeking a long-term relationship to secure sales..

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In a new report, Future Industry Insights (FMI) assesses current changes in the underground mining equipment market and forecasts their impact on market growth between 2022 and 2029. According to the survey, sales of underground mining equipment of US$ 15.9 billion would be recorded in 2022. However, until 2029, the market value is expected to increase at a passive CAGR of 2.4 percent.

According to the survey, manufacturers are increasingly adopting automatic underground mining equipment to keep up with current trends in the ever-changing mining business, which will result in tech-driven revolutions in the landscape. Furthermore, strict emission regulations in the mining industry, such as controlled diesel emissions and personnel safety, are likely to spur innovations that will help the industry deal more effectively with the relentless pricing pressure and mitigate the environmental impacts of new-generation underground mining equipment.

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Advanced techniques of mining and their impacts on various socio-economic factors have been a prolonged concern worldwide. The shift of a majority of miners from surface or open pit mining to underground mining has further amplified concerns vis-a-vis human safety and the environmental impacts.

Technology is emerging as the most efficient tool for introducing enhanced features in underground mining equipment, and FMI’s study examines the influence of advancements in technologies and other microeconomic factors on the growth of the underground mining equipment landscape.

Mineworkers’ Staunch Inclination towards Hard Rock Mining Equipment

FMI’s study finds that every 7 out of 10 underground mining equipment sold in 2021 were designated to applications associated with hard rock mining platforms. Increasing demand for hard rock minerals, such as copper, gold, zinc, and lithium, in wide-ranging industries has given rise to hard rock mining activities in the mining industry. Leading players in the underground mining equipment landscape are focusing on catering to the thriving need for improved productivity in underground hard rock mines with the launch of next-generation mining equipment.

In addition, conventional hard rock mining techniques result in the release of toxic gases including carbon dioxide (CO2), and Sulphur dioxide (SO2) among others, which is triggering the adoption of electric equipment in hard rock mines. In addition, the study finds that coupling of underground mining equipment that can carry out multiple operations including parallel cutting, loading, and hauling operations are likely to witness high demand in the coming years.

Visibly Growing Preference for ‘Rental’ over New

In rough terrains such as the mining industry, constant wear and tear of mining equipment lead to high replacement rates, incurring significant depreciation costs to the end users. As large mining machinery, including underground mining equipment, come with a significantly high price tag, purchasing a new equipment creates the need for high capital investments.

A majority of miners are inclined towards purchasing used or refurbished equipment, even considering the option of renting rather than investing in new underground mining equipment. Since a majority of mining businesses are looking for reducing their initial investments, rental service providers are likely to gain traction among in the coming years.

FMI’s study finds that more than half the revenue share is accounted by rental service providers in the underground equipment market. Increasing end user preferences for rental equipment are fostering the progression of this trend in the market. A mounting number of rental service companies are offering refurbished mining equipment that are specifically tailored to suit the requirements of the underground mining sector. The FMI report also finds that leading stakeholders and investors in the underground mining equipment landscape are zooming in their strategic focus on providing rental service packages to suit changing needs of their customers, regarding the inventory of equipment.

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About Future Market Insights (FMI)

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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The global magnetic separator market is estimated to reach US$ 1.3 Bn in 2022. Increasing use of magnetic separators to remove unwanted particles during the metal recycling processes across diverse industries is propelling the demand in the market. Driven by this, the market valuation is set to reach US$ 1.7 Bn in 2029.

The global Magnetic Separator Market is estimated to witness modest growth in 2019, and reach a market value of around US$ 1,200 million, while registering a Y-o-Y growth rate of nearly 3.0% over that attained in 2018. Additionally, the global sales of magnetic separators are expected to be fuelled by growing mining and several processing industries across the globe.

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

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Oceania Emerging as a High Potential Storehouse of Opportunities

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

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

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

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

Magnetic Separator Market by Category

Product:

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

Intensity:

• Low Intensity
• High Intensity
• High Gradient

Material Type:

• Wet Type
• Dry Type

Cleaning Type:

• Self-Cleaning
• Manual Cleaning

End-Use Industry:

• Recycling
• Processing Industries
• Metal & Mineral Mining

Region:

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

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

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

Micro Irrigation Systems Market: Micro irrigation systems market is expected to grow at an exponential rate of more than 13% CAGR through the end of 2031

Vibration Control Systems Market:  Vibration control system manufacturers bringing in a flurry of products, Future Market Insights (FMI) expects outlook to be bullish during the period 2021-2031

Industrial Vacuum Cleaners Market: The global industrial vacuum cleaners market is estimated at US$ 569.1 Mn by 2022 and is expected to reach US$ 771.2 Mn by 2028, at a CAGR of 5.2% from 2022 to 2028

Magnetic Separator Market: The global magnetic separator market are projected to rise at a CAGR of 3.8% over the forecast period 2022-2029

Underground Mining Equipment Market: The global underground mining equipment market is expected to reach US$ 15.9 Bn in 2022. With sales growing at a steady 2.4% CAGR, the market valuation is projected to reach US$ 18.8 Bn in 2029

Elevator and Escalator Market:  Global elevator and escalator consumption is anticipated to increase at a 4.5% CAGR from 2022 to 2030

Test and Measurement Equipment Market: The global test and measurement equipment market is predicted to witness a moderate CAGR of 5.6% during the forecast period of 2022 to 2032.

Testing, Inspection, and Certification Market: The testing, inspection and certification market is anticipated to register a CAGR of 1.8% during the forecast period.

RFID Kanban Systems Market: The Global RFID kanban systems market size to reach US$ 1.6 Billion in 2022. With a favorable demand outlook, sales are forecast to increase at an impressive 18.1% CAGR, reaching US$ 8.4 Billion by 2032.

Industrial Cybersecurity Market : The industrial cybersecurity market is anticipated to record a CAGR of 7.7% during the forecast period (2022 – 2032)

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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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The commercial refrigeration compressor market was estimated by Future Market Insights (FMI) to be worth US$ 8,567.6 Mn in 2022 and to grow at a CAGR of 4.3 percent to US$ 13,090.8 Mn by 2032. Over the projected period, it is expected that the use of natural and energy-efficient refrigerants will continue to rise.

The global demand for commercial refrigeration compressors is expected to show promising growth, with a value CAGR of higher than 4% over 2022-2029. An increase in food & beverage production, along with the expansion of cold chain capacities to ensure minimum wastage and efficient storage of food, is expected to increase the demand for commercial refrigeration compressors, worldwide, over the forecast period.

The market for Commercial Refrigeration Compressors is expected to grow at a promising rate during the forecast period, supported by the increasing number of retail stores across the globe. Furthermore, positive changes in living standards and improving macroeconomic scenarios have led to a significant surge in the number of organized retail stores, worldwide.

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The rapid growth of the organized retail sector characterized by the rising number of supermarkets, hypermarkets, etc., is projected to drive the growth of the overall food chain, which, in turn, is estimated to boost the sales of commercial refrigeration compressors for refrigerated display cases and other refrigeration equipment.

Commercial Refrigeration Compressors Market Analysis by Region

From a regional perspective, East Asia is projected to be a prominent market, owing to the significant growth of retail stores in the region. Europe is projected to hold a value share of around 19% in the global commercial refrigeration compressors market.

The market in Asia Pacific is anticipated to expand at a relatively high growth rate, owing to the increasing demand for refrigerated display cases, beverage vending refrigeration systems, etc., which, in turn, is projected to drive the demand for commercial refrigeration compressors in the market.

The commercial refrigeration compressors market in China is expected to be a lucrative market and is projected to grow at a value CAGR of nearly 6% during the forecast period.

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By Key Segment:

Type :

• Reciprocating
• Rotary
• Scroll
• Screw
• Centrifugal

Cooling Capacity :

• Upto 1 kW
• 2-6 kW
• 7-10 kW
• 11-15 kW
• 16-20 kW
• 21-30 kW
• 31-40 kW
• Above 40 kW

End Use :

• Transport based Refrigeration System
  • Shipping Based
  • Truck & Trailer Based
• Walk-in-Refrigerators and Freezers
• Reach-in-Refrigerators and Freezers
• Beverage Vending Refrigeration System
  • Drinking & Soda Fountains
  • Beverage Cooling & Dispensing Equipment
  • Beer Dispensing Equipment
• Refrigerated Display Cases
• Ice Machines
• Refrigerated Vending Machines

Refrigeration :

• R290
• R404A
• R410A
• R744
• R134A
• R407C
• Others (R600A, etc.)

Region :

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

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Commercial Refrigeration Compressors Market: Vendor Insights

The report highlights some of the main companies that are operating in the global commercial refrigeration compressors market, such as Emerson Electric Co., HUAYI COMPRESSOR CO., LTD., Mitsubishi Electric Corporation, LG Electronics, Inc., The Danfoss Group, Panasonic Corporation, BITZER SE, GEA Group AG, Frascold S.p.A., Fusheng Co., Ltd., Nidec Corporation, Midea Group, Officine Mario Dorin S.p.A., Johnson Controls – Hitachi Air Conditioning, and Tecumseh Products Company LLC.

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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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In 2022, the ASEAN region’s market for safety sensors and switches is anticipated to be worth about US$891 million. The overall market is predicted to grow at an impressive CAGR of 10.2% between 2022 and 2028, reaching a valuation of US$ 1.59 Bn by 2028, as safety sensors and switches are increasingly being adopted to reduce individual and institutional damage.

Demand for better safety equipment is growing as ASEAN nations like Indonesia and Singapore experience rapid industrialization. The market is growing as safety sensors and switches are increasingly used.

With a dominant share of 34.7% in 2022, Indonesia will continue to rule the ASEAN safety sensors and switches market. The market for safety sensors and switches in Indonesia is being driven by the implementation of strict government regulations as well as the rising adoption of modern automatic technologies.

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Overview of the Safety Sensors and Switches Market Report Chapters

The safety sensors and switches market report begins with an executive summary covering the gist of the report. The executive summary highlights the ASEAN safety sensors and switches market overview in terms of value through various segments. The section also covers key supply- and demand-side trends in the ASEAN safety sensors and switches market. This section also outlines a technology roadmap with the introduction, adoption, and current developments in the safety sensors and switches market.

The next section of the safety sensors and switches market report begins with the market definition, market taxonomy, and research scope of the safety sensors and switches market.

The next section that follows in the ASEAN safety sensors and switches market report includes the macroeconomic factors, along with value chain analysis, drivers, restraints, trends, and opportunities that are having a profound rate of influence on the growth of the safety sensors and switches market. Information has been backed up with suitable examples and facts as obtained from official and authentic data credentials in the safety sensors and switches market.

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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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In 2022, sales in the global market for carbide tools are anticipated to reach US$ 7.0 Bn. By 2029, the market size is expected to reach US$ 10.7 Bn, growing at a healthy 7.2% CAGR.

The market will be driven by the durability of machine tools and tool holders made of carbide. The edges of cutting equipment can be kept sharp with the help of carbide parting tools, which also have a longer lifespan.

Sales are expected to increase due to the widespread use of carbide lathe tools in machining applications. These tools’ distinctive qualities, such as their extended usable life, quick speed, superior wear resistance, shorter cycle times, and ability to maintain their cutting edge at high machining temperatures, will keep boosting sales.

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Mergers And Acquisitions Boosting The Carbide Tools Market?

It is anticipated that an increase in mergers and acquisitions among national and international manufacturers will bring about prosperous opportunities for manufacturers of carbide lathe tools. These tactics not only open up new untapped markets but also aid in developing novel prospects in developing markets.

For instance, Mitsubishi Materials (MMC) successfully acquired a 30% stake in the Chilean Mantoverde copper mine in February 2021 for US$ 275 million. As part of the Mantoverde Development Project, MMC is slated to participate in the construction of facilities to support the processing and extraction of sulphide ore (MVDP). The market is expected to be driven by renowned companies implementing comparable strategies.

U.K. Carbide Tools Market Exhibiting High Demand?

“Carbide Hole Cutters are Showcasing High Demand Amid Surging Adoption of New Coatings”

Leading companies’ ongoing development of a number of new products in the U.K. is expected to boost sales. According to FMI, the market for carbide tools in Europe is expected to hold 37.5% of the overall market share in 2022.

For example, in December 2021, Horn Cutting Tools Ltd. (U.K.) unveiled IG6 and SG3, two distinct high-performance coatings for carbide inserts. In contrast to uncoated inserts, these are best suited for turning applications and can increase the service life of inserts by a factor of 10 or more.

The demand for carbide hole cutters is anticipated to rise in the coming years due to the rising number of new product launches in the U.K.

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How is the U.S. Carbide Tools Market Faring?

“Acquisitions between Leading Players to Propel the Sales of Carbide Turning Tools”

The market is expected to be driven during the assessment period by the presence of numerous manufacturers in the U.S. According to FMI, the market for carbide tools in North America is anticipated to account for 14.7% of the total in 2022.

For instance, in February 2022, Elkhart-based tooling solutions provider Tooling Concepts Inc. was purchased by Peak Toolworks. The former could strengthen its presence in the Midwest with the aid of this acquisition.

In order to expand and better serve its customers who are involved in the machining and cutting of metal, composites, plastics, and wood, the company will also open a facility in Elkhart. Sales of carbide turning tools are anticipated to soar as more and more major players with U.S. bases engage in acquisitions.

What is the India Carbide Tools Market Outlook?

“Expansion of the E-commerce Sector to Fuel the Demand for Carbide Parting Tools”

Sales in the Indian market are likely to increase in the coming years as a result of growing awareness of automation in the metal fabrication sector. According to FMI, the South Asian market for carbide tools is expected to account for 12.1% of the overall market.

ToolKart unveiled its most recent online e-commerce platform for industrial buyers to choose and buy cutting tools online without hassle in July 2020. The new website will allow users to source all of their tooling needs, including both special and common cutting tools.

In light of the COVID-19 pandemic, the company wants to reduce the abundance of inexpensive cutting tools currently on the market by supporting Indian producers and facilitating contactless transactions. Therefore, it is anticipated that the growth of India’s e-commerce sales channel will be beneficial for the market for carbide parting tools.

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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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Hydraulic gear pump sales continue to grow strongly with the construction industry’s growth, sustained automobile sales, and adoption by mining industry operators. A recent Future Market Insights (FMI) study projects a steady growth outlook for the global hydraulic gear pumps market, reaching a valuation of US$ 2.5 Bn at the end of the forecast period.

Greater emphasis on upgrading existing pump models to enhance their energy efficiency quotient will mark an important trend in the hydraulic gear pump market. High manufacturing costs, however, remain a longstanding challenge, limiting the rapid growth of the hydraulic gear pump market, says the FMI study.

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However, due to the COVID-19 crisis, several production facilities are shuttered and workforce shortages prevail. This scenario is further complicated by an undersupply of raw materials and supply chain disruptions. Moreover, the direct impact of the halted progress of all end-use industries is negatively impacting the growth of the hydraulic gear pump market.

Key Takeaways of the Hydraulic Gear Pumps Study 

1. External gear pumps will be the top-selling category through 2030.
2. Sales remain concentrated in East Asia and Europe.
3. A third of total sales will be accounted for by hydraulic gear pumps with an operating pressure of 150–250 towards the end of 2030.
4. End users are inclined toward specialist distributors that provide engineering expertise, aftersales services, and end-to-end solutions to meet the specific demands of customers.

Material handling equipment plays a vital role in lean supply chain management and it is gaining traction owing to the evolving outlook of transportation and logistics across the globe. Manufacturers of hydraulic gear pumps thus need to align their product offerings with the changing material handling equipment requisites. 

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Increasing Adoption of Agriculture and Forestry Equipment 

The agricultural sector is also a significant end-user, shaping the market for hydraulic gear pumps. The demand is expected to increase for agricultural applications. A majority of manufacturers in the global hydraulic gear pump market are following the trends of manufacturing and providing hydraulic gear pumps specifically for agricultural and farming equipment.

Competitive Landscape Analysis: 

The hydraulic gear pump market represents a fairly fragmented market structure, owing to the presence of a large number of hydraulic gear pump suppliers across the globe. Eaton Corporation, Parker-Hannifin Corporation, and Bucher Hydraulics GmbH remain some of the market leaders, operating with medium-to high-level global presence. The top 10 market participants in the hydraulic gear pump landscape currently account for more than 30% of the revenue share and prefer to concentrate on strategic collaboration agreements with regional leaders in the distribution space. New regional distributorships will enable them to gain a competitive advantage while introducing new offerings to newer regional markets.

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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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According to Future Market Insights’ most recent report, the global busbar market will grow from US$ 18,278.9 Mn in 2022 to over US$ 23,177.7 Mn by the end of 2028, registering a CAGR of 4.0%.

Expanding busbar installations in commercial buildings like hotels, research facilities, hospitals, and residential structures are anticipated to boost the market’s promising future. Over one-third of the revenue share is likely to be accounted for by Tier I producers like Schneider Electric SE, Eaton Corporation Plc, Siemens AG, and Methode Electronics.

Why Should Busbar Manufacturers Concentrate on North America?

According to a recently released report by Future Market Insights, North America dominates the world market for busbars, contributing nearly 24.4% of the market’s total revenue.

Growing use of smart grids and the demand for sustainable energy systems are driving up busbar demand, which is driving up busbar market growth throughout the region. However, the busbars’ associated complexity is limiting market expansion. The market for busbars is also anticipated to grow in the near future due to rising electric vehicle demand.

The market size in the region is likely to grow as a result of the presence of well-known manufacturers like Electronic Systems Packaging LLC (ESP), Methode Electronics, Inc., Storm Power Components, and Suzhou West Deane Machinery.

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Will the bus industry find lucrative conditions in South Asia and the Pacific?

In terms of regional growth, South Asia and the Pacific will probably see the highest demand for busbars due to rising electricity consumption in the residential, commercial, and industrial sectors. One of the main factors driving the market growth in the South Asia & Pacific region is a significant rise in demand for reliable, uninterrupted power supply coupled with a growing adoption of renewable energy sources for power generation.

Furthermore, due to the numerous advantages of busbars, including their high reliability, cost-efficiency, environmental friendliness, ease of installation, and movable plug-in outlets, copper busbars are expected to see significant growth in the years to come. The use of busbars will also be improved by encouraging government subsidies and significant investments in grid expansion and modernization. In order to improve energy efficiency across all commercial services, they are also implementing energy-saving programmes.

Busbars Industry Analysis’s Key Segments

Market for Busbars by Conductor Type

• Copper Busbars
• Aluminium Busbars

Market for Busbars Based on Power Rating

• Low Rating Busbars
• Medium-Rating Busbars
• High-Rating Busbars

Market for Busbars by End User:

• Residential Use of Busbars
• “Busbars for Commercial Use”
  • Hotels
  • Hospitals
  • Academics
• “Busbars for Industrial Use”
  • Chemical
  • F&B
  • Mining and metals
  • Others

Market for Busbars by Region

• North America’s Busbars Market
• Latin America’s Busbars Market
• European Busbars Market
• East Asia’s Busbars Market
• Busbars Market in South Asia and the Pacific
• Market for Busbars in the Middle East and Africa (MEA)

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Competitive Landscape

Busbar manufacturers are investing in the research and development of new adhesives with better curing properties as per changing industry standards across multiple industry verticals.

• In February 2019, Siemens presented a new form of data transmission for the BD2, LD, and LI busbar trunking systems from the Sivacon 8PS portfolio. This technology allows busbars not only to transmit current but also data. This has enhanced flexibility, transparency, and efficiency for power distribution in this digital age.
• In February 2020, ABB introduced the NeoGearTM low-voltage switchgear, which incorporates a revolutionary new laminated bus plate technology. NeoGear has ushered in a new era of looking at busbar technology in switchgear, with a 25% smaller footprint, making it an optimal solution where space is at a premium.

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The demand for mobile tracking solutions is expected to grow dramatically between 2022 and 2032, with a CAGR of over 20.0%, reaching a valuation of about US$ 322 billion. Increased demand across a number of end use verticals, such as shipping & container tracking and military asset tracking, is credited with growth.

Mobile tracking is the process of employing various tools, often known as mobile tracking solutions, to determine the whereabouts of a mobile or any other thing remotely. For a real-time update on the location of mobile assets, these solutions use GPS or radio signals.

Due to their capacity to locate mobile assets, mobile tracking solutions have seen significant growth across a range of industries. They are used in many different industries, including tracking medical equipment, mobile industrial generators, construction equipment, military equipment, wildlife and conservation, shipping & container tracking, etc.

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Historically, firms tracked their assets using a variety of manual techniques. However, these procedures took more time, and errors were frequent. People thus began exploring for other tracking techniques. This opened the door for the creation of cutting-edge mobile tracking technologies.

To ensure effective mobile tracking, various devices like GPS and RFID tags are being affixed to machinery and assets. Asset tracking has become simpler and quicker thanks to the introduction of these contemporary solutions, which have also enabled businesses to save time and money.

The market for mobile tracking solutions is experiencing profitable growth prospects due to the increasing digitalization of key sectors. Mobile monitoring technologies are finding increasing appeal in sectors including healthcare and transportation & logistics. These sectors rely on cutting-edge tracking technologies to keep an eye on their assets and recover stolen goods.

Due to the increasing use of smartphones, the existence of key end use industries, and the expanding use of mobile tracking solutions in the automobile industry, China and the U.S. are emerging as the top leading markets for mobile tracking solutions.

Which Key Factors Are Fueling the Market for Mobile Tracking Solutions?

The market for mobile tracking solutions has been revitalised by the increasing adoption of internet of things (IoT) devices worldwide. These tools are being used more often in a variety of industries, including industrial, healthcare, and domestic use. They have tracking devices that enable operators and corporations to continuously monitor their goods and services.

Utilizing mobile tracking solutions reduces the possibility of losing assets and, as a result, saves time. They are now an essential component of contemporary tracking systems.

Additionally, during the forecast period, the market for mobile tracking solutions is expected to grow strongly due to the rising popularity of connected cars.

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What problems does the market for mobile tracking solutions face?

Mobile tracking solutions are still only used in a few select areas, despite their alluring advantages. The lack of connectivity infrastructure in many developing and underdeveloped areas is posing a significant barrier to the market expansion for mobile tracking solutions.

In addition, the market growth is being severely constrained by the high costs of mobile tracking solutions and the potential risk of cyberattacks.

What makes the North American market for mobile tracking solutions so important?

The most lucrative market for mobile tracking solutions has emerged to be North America, and this pattern is likely to persist in the future. Increased use of connected devices, quick industrialization, and the presence of major market players all contribute to the market’s growth.

To boost productivity and save time, the majority of North American industries are adopting cutting-edge technologies like mobile tracking solutions. Sales of mobile tracking solutions are being strongly boosted as a result throughout the region.

How does Europe affect the market for mobile tracking solutions?

Europe is anticipated to overtake North America as the second-most lucrative market for mobile tracking solutions, according to Future Market Insights. Growing digitalization in the area is opening up opportunities for mobile tracking solutions.

Due to the growing adoption of digital devices with sophisticated tracking systems and rising consumer awareness of these devices’ advantages, nations like the U.K. and Germany are experiencing high demand for mobile tracking solutions.

Market Competition

Some of the key participants present in the global mobile tracking solutions market include Wasp Barcode Technologies., Mobile Asset Solutions., Barcodes, Inc., Wavetrend Ltd., ORBCOMM Inc., Verizon, Spireon, Inc., NFC Group, Vix Technology, and Libelium Comunicaciones Distribuidas S.L among others.

Rising penetration of new entrants has made the market competition fiercer. In order to capitalize, market players are constantly introducing innovative solutions with advanced features.

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Key Segments Profiled in the Mobile Tracking Solution Industry Survey

Technology:

• RFID tags
• GPS
• Other technology

Vertical:

• Public sector
• Healthcare sector
• Banking financial services and insurance (BFSI) sector
• Transport and logistics sector
• Retail sector
• Commercial sector
• Industrial sector
• Energy & utility sector

Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• APEJ
• Japan
• Middle East & Africa

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About Us

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

Contact Us:
Future Market Insights,
Unit No: 1602-006,
Jumeirah Bay 2,
Plot No: JLT-PH2-X2A,
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Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
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