Market Research Blog – Page 9489 – New Product Development

The Market For Clad Pipes Will Grow From US$ 2,457,4 Million In 2022 To US$ 3,779.9 Million In 2032 – Future Market Insights, Inc

According to predictions, the market for clad pipes will grow from US$ 2,457.4 million in 2022 to US$ 3,779.9 million in 2032. Over the course of the anticipated period, the market is anticipated to grow at a CAGR of 4.4%, according to FMI.

The need to protect pipelines from highly corrosive maritime conditions and the relatively low cost of clad pipes in comparison to other CRA pipes are the main factors driving the global clad pipe market.

Although CRA pipes are also used to prevent corrosion, the demand for clad pipes is boosted by the fact that they are much heavier and more expensive to produce. Thus, for both onshore and offshore operations, almost all significant oil and gas companies now favour installing clad pipes.

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Other Factors Influencing the Demand for Clad Pipe

Clad pipe construction is difficult and demands specialised welding techniques. Additionally, lined pipes cost less than clad pipes, which is problematic because it deters people from using clad pipes. But because of its advantages, such as superior corrosion resistance, light weight, and reasonable price points, the market for clad pipes is expected to grow rapidly during the anticipated period.
Additionally, the growth of wastewater management operations globally and an increase in R & D spending in the industry are creating an upward trend for clad pipe market development.
Around the world, there are now significantly more wastewater treatment facilities due to an increase in water contamination incidents. Clad pipes are primarily used to transport wastewater from the industry to the treatment units due to their durability and non-reactive nature. This in turn is promoting the growth of the clad pipe market as a whole.

Regional Outlook For Clad Pipe Market

Asia Pacific is anticipated to experience significant growth in the clad pipe market due to the expanding potential in developing countries. Additionally, it is anticipated that over the coming years, an increase in business investment will further fuel the growth of the region’s clad pipe market.

The market for clad pipes is predicted to have promising growth potential in countries in Europe, the Middle East, and Africa. The likelihood of a sharp rise in offshore oil and gas projects in the ensuing years is one of the important factors fueling the market for clad pipe’s rapid expansion.

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North America Outlook for the Clad Pipe Market

North America dominated the market and thus controlled the sector. The existence of manufacturers and significant investment in the oil and gas industry are some of the factors that contribute to this enormous market.

South America Outlook For the Clad Pipe Market

Petrobras requires huge quantities of clad pipes to extract oil from corrosive deepwater and pre-salt areas. In addition to Petrobras, some of the largest Brazilian mining and energy companies, including EBX, Vale, Samarco, and BHP Billiton Ltd., also have high demands for clad pipes.

Manufacturers see enormous opportunities to expand their global operations in these regions because Indonesia, South America, the Middle East, and Australia have corrosive environments for the oil and gas industry. Companies expect the clad pipe markets to expand in the near future.

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Sales Of Glass Tempering Systems Are Anticipated To Grow At A CAGR Of Roughly 3.9% – Future Market Insights, Inc

The market Sales for glass tempering systems is projected to reach US$113.6 million in 2022, which was worth approximately US$109.5 million in 2021. Additionally, due to increased adoption in sectors like automotive, architecture, and electronics, the market for glass tempering systems is anticipated to grow at a rate of 3.9% CAGR between 2022 and 2032, reaching a total market value of US$ 166.5 Mn by that year.

Over 90% of the market for glass tempering systems worldwide is currently accounted for by the C.H.Q.E. tempering technology segment.

The automotive and electronics industries are dominant in the global market for glass tempering systems. During the forecast period, the market will benefit from increased consumer awareness of the advantages of tempered glass in the automotive and electronics sectors, better transportation options, rising demand for durable building materials, and a growing architectural trend of using glass in buildings and structures.

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According to this report, North America and APEJ are the key regions for glass tempering system market participants. In North America, the United States is investing in tempering activities, which is creating immense opportunities for glass tempering system manufacturers. Product development and establishment of long-term relationships with tempered glass OEMs is also key to success in this market. The global market for glass tempering systems is expected to be valued at US$ 94.5 Mn by the 2017 end and is estimated to reach US$ 135.6 Mn by 2027 end.

Global Glass Tempering System Market: Drivers

The shift toward renewable solar energy will accelerate the growth of the market
Improving construction sector, especially in Latin America is fuelling the growth of the global market
Construction of energy-efficient buildings and renovation of existing infrastructure is another key market driver

Global Glass Tempering System Market: Forecast by Tempering Technology

On the basis of tempering technology, the global glass tempering system market is segmented into controlled heating and quenching equipment and chemical treatment. Controlled heating and quenching equipment is further segmented into standard configuration and advanced configuration. In terms of value, the controlled heating and quenching equipment segment is anticipated to be valued at US$ 89.0 Mn by 2017 end, which is estimated to grow at a CAGR of 3.7% and reach a value of US$ 127.8 Mn by the end of 2027.

Global Glass Tempering System Market: Forecast by Application

The application segment consists of flat, bent and combined flat and bent segments. The flat segment is further segmented into continuous and oscillating segments. The oscillating type segment is expected to emerge as the most attractive segment by application over the forecast period. The combined flat and bent segment is anticipated to create an incremental $ opportunity worth US$ 4.2 Mn over the forecast period.

Global Glass Tempering System Market: Forecast by End Use

By end use the market is categorized into automotive windows, architectural, electronics, solar applications and others. The architectural segment is sub-segmented into windows and doors, mirror and partitions and furniture, while the electronics segment is sub-segmented into smartphones and appliances. The solar applications segment is estimated to reach US$ 1.6 Mn in 2027 from US$ 1.3 Mn in 2017. The segment is estimated to grow at a CAGR of 2.4% during the forecast period.

Global Glass Tempering System Market: Forecast by Region

Seven regions have been covered in this report and they are North America, Latin America, APEJ, Eastern Europe, Western Europe, Japan and MEA. China is expected to remain a strong market for glass tempering systems. Most of the APEJ, Eastern Europe, and Latin America buyers import glass tempering lines from China with standard configuration, due to investment constraints. North America is also projected to hold a significant share of the global glass tempering system market over the forecast period.

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Global Glass Tempering System Market: Key Vendors

Glaston OYJ Abp, Luoyang Landglass Technology Co. Ltd., LiSEC Austria GmbH, Luoyang North Glass Technology Co., Ltd., Glasstech Industries (India) Private Limited, Keraglass Industries Srl, CoolTemper Ltd., HHH Tempering Resources Inc., Ratnesh International, North East Machines, Meta Therm Furnace Pvt. Ltd., Mappi International, EFCO, Saint-Gobain S.A., IGE Glass Technologies, Inc., Lambert GT Services Ltd. are some of the glass tempering system market companies profiled in the report.

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Germany Has Emerged As A Leading Fire Extinguisher Market, Accounting For Over 15.5% Of Total Demand – Future Market Insights, Inc

According to a Future Market Insights (FMI) analysis, the fire extinguisher market is anticipated to reach a value of over US$ 3.6 billion in 2021 and grow at a CAGR of 5.7% from 2021 to 2031. Demand is anticipated to increase over the forecast period as a result of increased applications of fire extinguishers in the industrial and commercial sectors as well as the implementation of strict regulations and building codes.

Future Market Insights has projected the U.S. to remain one of the most lucrative markets through the forecast period. According to the research, the market value was estimated at over US$ 1 Bn in 2021.

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The key factor supporting market expansion in the country is the rise in construction activities, and the enforcement of stringent fire regulations, by bodies such as the National Fire Protection Association (NFPA) which publishes codes and standards intended to minimize the possibility and effects of fire and other risks.

Furthermore, lucrative growth in the defence, marine, and tourism industries also paves the way for market growth in the country to the tune of 5.6% per annum.

Increasing regulations for building design codes in the residential sector will also generate gains in the coming decade. Moreover, manufacturers are investing in R&D activities to offer innovative and technologically advanced product offerings. These factors are expected to positively influence the growth in demand for fire extinguishers during the forecast period.

Key Takeaways of the Fire Extinguisher Market Study

Carbon dioxide extinguishers will account for the leading market share of over 30%, on the back of easy access to raw materials and efficacy in fire control.
Dry chemical fire extinguishers are increasingly adopted, due to their superior efficiency in draught-free conditions.
Germany will emerge as a key market for fire extinguishers on the back of the implementation of stringent codes for ensuring better safety in buildings.
The U.S. dominates the North American market, accounting for over 80% of sales in the region.
China will lead the East Asia market, exhibiting a growth rate of over 6.5% CAGR through the assessment period.

“With the ever-evolving requirements of the global construction industry, demand for fire safety equipment has grown rapidly. Fire extinguishers in particular, have been at the center of these developments in terms of economically feasible solutions. Innovative product offerings have been important for manufacturers to gain competitive benefits,” says an analyst of Future Market Insights.

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Competitive Landscape

The fire extinguisher market is highly fragmented. The penetration of local and regional players makes this market highly competitive. Companies operating in the market are trying various strategies to gain a competitive edge while maintaining their longstanding relationships with several equipment distributors and end-users.

Some of the key players in the market include but are not limited to Kidde, AMEREX CORPORATION, Hochiki Corporation, NAFFCO FZCO, DESAUTEL SAS, HATSUTA SEISAKUSHO Co. Ltd, Yamato Protec Corporation among others.

Find More Valuable Insights

The research report analyzes the market demand trends of the fire extinguisher market. The global market estimation and growth projection are based on factors like end-use industries development, COVID-19 crisis impact, replacement ratio, and adoption rate of fire extinguishers. As per Future Market Insights’ research scope, the fire extinguisher market has been studied and segmented based on pipe size, application, construction material and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market on both, the supply side and demand side.

Fire Extinguisher Market by Category

By Product Type

Water
- Air-Pressurized Water
- Water-Mist
Foam
- Aqueous film-foaming foam
- Compressed air foam system
- Others
Wet Chemical
- Potassium Acetate
- Potassium Carbonate
- Potassium Citrate
Dry Powder
Carbon Dioxide
Dry Chemical
Others

By Fire Type

Class A
Class B
Class C
Class D
Class K

By End Use

Residential
Commercial
Industrial
Public Areas
Others

Region

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

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North America Substation Automation Market Is Expected To Accumulate Highest Market Share Of 36.0% – Future Market Insights, Inc

In 2022, the market for substation automation is anticipated to be worth US$29.12 billion. The overall demand for substation automation is anticipated to grow at a CAGR of 6.7% between 2022 and 2032, reaching a total of approximately US$ 55.69 Billion by that year. This is due to the rising demand for electric and hybrid vehicles as well as the growing use of digital technology to improve grid efficiency in smart cities.

The process of using data from intelligent electronic devices is called substation automation. It refers to automating and controlling substation capabilities as well as commanding power system components from a distance. Equipment such as specialised software, unique sensors, and equipment that facilitates two-way communication are required to automate the electricity substations.

Additionally, there is the use of intelligent electronic components like digital transducers, programmable logical controls, and safety relays. Such machinery aids in the control and monitoring of substation machinery. Additionally, the frequency and duration of power outages are decreased with the aid of such equipment.

Reduced human intervention and increased system operating efficiency are the main market drivers in this sector. The market is expanding as a result of growing SCADA and communication technology developments as well as rising demand for renewable energy projects.

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North America Continue Dominance in the Global Substation Automation MarketIncreasing Investment in Energy Infrastructure in the Region

The size of the North American substation automation market is primarily being driven by the rising dependence on electricity, the need for advanced technology in the power system, the need to reduce maintenance and operating costs, and the implementation of government incentives.

Where is the Asia Pacific Substation Automation Market in terms of growth?Government Initiatives to Improve Power & Energy Sector in the Region

The Asia Pacific substation automation market is anticipated to reach a market share of 32.5% in 2022 and is anticipated to maintain the trend throughout the forecast period. The improvement of the power and energy sector has been the focus of numerous government initiatives in APAC nations, which has fueled the market for substation automation.

To revive power distribution utilities and electrify villages, the Indian government has introduced a number of programmes. The Indian government is implementing the concept of smart infrastructure across the nation.

The grid has been digitalized as part of the smart power infrastructure, which helps deliver uninterrupted electricity to end users in the industrial, residential, and commercial sectors. Furthermore, the Chinese government spent USD 31 billion in 2020 to upgrade its grid infrastructure by putting in automated substations. In a similar vein, nations like South Korea and Indonesia are funding grid modernization initiatives.

For instance, the Indonesian state utility PT PLN (Persero) awarded a contract to CG Power Systems Indonesia, a subsidiary of CG Power and Industrial Solutions (CG), in November 2019 for the production and supply of 25 units of power transformers valued at USD 24 million.

The order will help PLN achieve its ambitious goal of improving the performance of its transmission grid. All of these elements are pointing the APAC substation automation market in the direction of positive growth.

A healthy growth is also anticipated for Asia Pacific during the forecast period as a result of rising demand for rural electrification and the adoption of equipment that enhances substation safety and efficiency. Also, the presence of companies bringing in advancements in electrical equipment will further add up to regional growth.

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Growth of the Substation Automation Market unfolds in EuropeIncreasing Demand for Smart Grids in the Region

In Europe, the market for substation automation is anticipated to reach a market share of 30% in 2022. More than 50% of the electricity would be produced from RES, with the majority of them being connected to the MV and LV grids, in accordance with the European Union’s target of 32% of total energy consumption from renewable sources by 2030.

Additionally, in order to meet variable demand, EU policies have promoted the growth of decentralised electricity generation, electric vehicles, and energy storage.

Due to the rising demand for smart grids and the increased adoption of renewable energy, Europe is also becoming one of the major revenue-generating regions for the substation automation markets. During the forecast period, these factors are expected to propel the European Substation Automation Market forward.

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It Is Anticipated That The Market For Gasoline Generators Will Reach US$ 994.6 Million – Future Market Insights, Inc

The global gasoline generator market is expected to be worth US$768.8 million in 2022, with a healthy growth rate of 3.7 percent from 2022 to 2029. The expanding construction industry is a major driver of this expansion. The global market for gasoline generators is highly competitive, and small players in the market must compete to gain market share.

To maintain a competitive advantage, businesses must prioritise product innovation, as new product innovations can provide significant market growth opportunities. Portable gasoline generators with reduced noise and weight can be advantageous; product development at an affordable price range can result in high penetration into the residential sector.

North America to Capture Significant Market Share

There has been substantial growth in the U.S. construction industry over the recent past. As per the U.S. Census Bureau, there has been significant growth in non-residential construction spending. It is also estimated that this particular segment will grow rapidly over the forecast period.

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With the growing construction industry, the rise in the preference for portable generators (for standby backup power) is expected to surge the demand for gasoline generators over the forecast period. Since 2010, there has been a continuous rise in U.S. non-residential construction spending with an annual growth rate of ~5-6%, which is likely to boost the demand for gasoline generators in upcoming years.

Commercial Sector to Remain, Key Consumer of Gasoline Generators,

A robust market trajectory is foreseen for the gasoline generator market. Commercial and residential sectors spearheading usage of portable generators are likely to remain prominent end users of gasoline generators.

Gasoline generators that produce power output in the range of 3,000 watts to 5,000 watts are projected to register prominent growth in upcoming years. Gasoline generators that come under this category are utilized in several end-use sectors in case of power failures.
Portable gasoline generators are most widely utilized generator sets across the globe, which provide electricity by running a gasoline-powered engine. Portable generators are not permanently installed and can be moved from one place to another easily. Portable gasoline generators are available in various sizes depending on the power output.
Gasoline generators are primarily utilized for standby backup power applications across several end-use sectors, such as residential, commercial, industrial, and agricultural, among others. The standby backup power application accounts for a major share in the gasoline generator market.

Gasoline Generator Market: Vendor Insights

The report titled gasoline generator market highlights some of the key market participants, who are well-known market players and have established themselves as prominent stakeholders in the global gasoline generator market.

Some of the examples of key players in the global gasoline generator market are Kohler Co., Honda Motor Co., Ltd., Generac Power Systems, Inc., SGS Engineering (UK) Ltd., Hyundai Power Equipment, Stephill Generators Ltd., Yamaha Motor Co., Ltd., and Champion Power Equipment, Inc., among others.

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In terms of market structure and tier analysis, the global market for gasoline generators is mostly fragmented, with top 3 players holding 25%-30% share in the global market. This is mainly due to the large number of Chinese and other players involved in the manufacturing of gasoline generators. Significant players in the market are focusing on mergers and acquisition activities, along with new product launches to expand their global reach.

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Market For Noise Control Systems Is Expected To Expand At A CAGR Of More Than 3.7% – Future Market Insights, Inc

The FMI report tracks the industrial noise control market for the period 2021-2031. According to the report, the industrial noise control market is projected to grow at 3.9% volume CAGR through 2031. A new study by Future Market Insights (FMI) finds that industrial noise control market is expected to grow at a CAGR over 3.7% between 2021 and 2031.

Growing awareness of environmental noise as a potential health concern, industrial measures are taken to address the impact of external noise sources. FMI shows that the adoption of industrial noise control for external noise control applications will grow at a CAGR of over 3.9%.

Key factors influencing the growth of the industrial noise control market include,

Growing awareness of harmful levels of industrial noise
Increasing emphasis on the protection of workers and employees from noise pollution
Stringent environment regulation related to industrial noise control
Incorporation of integrated noise control technologies in advanced industrial machinery

The industrial noise control industry is witnessing a shift toward biodegradable materials over traditional materials. Manufacturers are incorporating green and sustainable materials in design and development of industrial noise control units to align with the ongoing sustainability trend.

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Polymer & Composites Remain Preferred Materials

The FMI study finds that polymer and composites are highly preferred materials for the manufacturing of industrial noise control units. Polymers and composite materials have higher soundproofing properties as compared to other materials such as glass, metal and fabric. In addition, new developments in composite materials provide biodegradability and recyclability, leading to higher sales.

Vibration Isolation Units Highly Sought-After

The FMI study finds that over 8 in 10 industrial noise control units sold by 2020 were equipped with vibration isolation unit. As vibrations can significantly impact the overall productivity and durability of a range of industrial machines, industrial noise control with vibration isolation units are highly sought after.

FMI thoroughly analyzed demand trends of different vibration isolation units such as isolation/machinery pads, isolation mounts, equipment bases and spring isolators. Among these, sales of isolation mounts were higher in 2020 and the demand trend will continue in the future as manufacturers consistently introduce advanced and more efficient vibration isolation mounts.

The industrial noise control market is also studied for flexible and rigid industrial noise control instruments by FMI. While both these noise control units significantly address noise pollution issues, FMI study finds that flexible noise control units accounted for the second highest sales during the forecast period.

Industrial Noise Control Utilization in Internal Application Prominent

The FMI study estimates that demand for industrial noise control units for internal noise control application remained higher as compared to the application in external noise control. Elevated sound levels at workplaces and other commercial or residential places can cause negative human health conditions such as hearing impairment, annoyance, sleep disturbance, hypertension and in some cases ischemic heart disease. Dissemination of knowledge regarding these harmful effects is contributing to increasing sales of industrial noise control units in the internal noise control application.

Demand for Industrial Noise Control Units Consolidates in Manufacturing Sector

According to the FMI study, the manufacturing sector remains a prominent end user of industrial noise control units. Different manufacturing industry verticals such as electrical & electronics, industrial machinery, automotive, metal and others significantly integrate industrial noise control measures.

Keeping the noise within the OSHA levels in the different manufacturing sector is pivotal in ensuring health and wellness of employees.

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Demand in East Asia Continues to Surge, Europe Represents Second Largest Market

As per FMI valuation, countries in East Asia including China, Japan and South Korea registered significant demand for industrial noise control units in 2020. In terms of sales volume, Europe followed East Asia and collectively.

China in East Asia remains leading consumer of industrial noise control. A prominent manufacturing sector in the country contributes to the significant demand for industrial noise control. In Europe, Germany followed by France and the UK accounted for considerable bulk of regional demand in 2020.

While the growth prospects seem steady for the industrial noise control market, development of advanced industrial machineries integrated with noise cancelling technologies and sound or vibration absorbers can impede the market growth in the future.

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Pooling Pallets Will Drive Market Growth To $12.9 Billion By 2032 – Future Market Insights, Inc

In 2022, it is anticipated that the global pallet pooling market will be worth US$ 7.1 billion. By 2032, the market is expected to reach US$ 12.9 Bn, with sales expected to grow at a steady 6.1 percent CAGR.

Operators of warehouses prefer pallet pooling because it eliminates the need to repair, maintain, and sort individual pallets, saving time and resources. Additionally, warehouse managers can reduce the price of storing and transporting these items by assembling pallets of similar types.

In the upcoming years, the market is anticipated to be driven by this.

Approximately 4% of the world market for material handling equipment is currently occupied by the pallet-pooling market. According to FMI, the market in North America will account for 35% of the overall market share during the forecast period.

Pallet pooling is the practice of renting or leasing pallets from a shared pool. This reduces the costs related to transportation and supply chain management.

Owning and maintaining an inventory of pallets can be expensive for companies. Hence pallet pooling is a good cost reducing opportunity.

Wooden pallet pooling contributes to almost 90% of the global pallet pooling due to their cost efficiency over plastic pallets. However, demand for washable, hygienic and insect-free pallets are also driving demand for plastic pallets.

Pooling pallets reduces the pressure of expenditure by eliminating huge payments of pallet procurement making it a cost efficient approach for sourcing pallets.

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Pallet pooling ensures the availability of pallets at the operational location, which results in a lean supply chain. Lean supply chain management leads to effective operational lead time.

Owing to the rising inclination of most end users towards cost reduction, along with optimum lead time, the pallet pooling market is estimated to gain noteworthy traction in the coming decade.

According to a new research report published by Future Market Insights (FMI), the pallet pooling market is estimated to exhibit 6% CAGR over the forecast period, to reach a valuation of more than US$ 11 Bn by the end of 2029.

Key Takeaways of Pallet Pooling Market Study

Pallet pooling has prominent application in the FMCG sector, as warehouses play a crucial role in this industry.
In terms of material, plastic pallet pooling is estimated to witness notable demand, owing to high reliability, durability, and cost-effectiveness of plastic pallets as compared to other types.
Globally, the pallet pooling market in GCC countries is estimated to witness lucrative growth, owing to the positive outlook for industrial trade activities in the region, particularly for the e-Commerce industry. The U.S. is expected to hold a leading share in the global market, registering a significant CAGR throughout the forecast period.
In recent years, pallets tagged with RFID have become more popular amongst end consumers, owing to their ability to provide location and detailed information related to stacked products on pallets.
Pallet pooling is a onetime investment business, in which, the owner has to purchase pallets and then pooling can be done with no enormous investment. As a result, the market offers high profit margins to its participants.
For the effective operational efficiency of pallets, pallet service providers perform quality checks after every service cycle to provide high-quality pallets and efficient service cycles to end consumers. Continuous and high standard quality checks of pallets are estimated to help players in the global pallet pooling market gain a competitive advantage.

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“In the pallet pooling market, flexible payment profiles allow end consumers to pay rent monthly at fixed rental rates throughout the term of the agreement, and customisations can be made in rental agreement terms to suit the period of budget allocation and income patterns.”

Pallet Pooling Market: Competitive Landscape

The pallet pooling market is highly consolidated, owing to the presence of a limited number of pallet pooling service providers across the globe.

Brambles Limited,
Euro Pool Group,
Faber Halbertsma, and
Loscam

Are considered being leading players in the pallet pooling market. Most market players are focusing on expanding their sales footprint in developing markets such as South Asia and the Middle East through the establishment of additional regional offices and sales partners.

Focus on Technological Advancements in Pallet Pooling

Increasing requirement of technologically advanced pallet systems throughout the supply chain for lean management is anticipated to support the future growth of the global pallet pooling market.

Find More Insights on Pallet Pooling Market

This research report analyses the total sales value of the pallet pooling market based on revenue generated by market players from the target product. The market is forecasted based on factors such as warehouse traffic flow, adoption rate, government regulations, and sustainable development.

The research report includes pallet management services catering to FMCG, food & beverages, chemicals & pharmaceuticals, and other related end-use industries.

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Immunochromatography Kits Market Growth Accelerating with Increasing Prevalence of Chronic and Infectious Diseases: Future Market Insights

According to Future Market Insights’ most recent industry report, the global immunochromatography kits market is estimated to be valued at approximately US$ 8.1 Bn in 2022 and is expected to rise at a CAGR close to 4.1% over the forecast period, with an anticipated worth of around US$ 12.1 Bn in 2032.

The immunochromatography assay (ICA), also known as the lateral flow test, is a simple device that detects the presence or absence of a target analyte. Immuno-chromatography combines immunochemical reactions with chromatography, which is the separation of sample components based on changes in how they pass through a sorbent. The immunochromatography kits are the most widely used immunochromatography system.

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The rising frequency of various infectious diseases is the main driver of the market for immunochromatography kits. Government attempts to improve healthcare systems by boosting the capacity of fast testing for initial screening and upgrading healthcare infrastructure are also a significant driver of market expansion. The market for immunochromatography kits is expanding due to rising consumer demand for easy-to-use home testing kits that can provide quick and precise results.

Globally, the market for immunochromatography kits is expanding as a result of an increase in the number of government-approved testing facilities and private points of care. Additionally, immunochromatography kits use cutting-edge technologies and are based on immunoassay or chromatography, which provides quick findings. Such rapid test kits are now much more in demand.

To stop the spread of COVID-19, governments in the majority of nations have instituted rigorous pathogen testing. Immunochromatography kits sales are likely to expand over the forecast period as medical companies, mostly diagnostic service providers, solidify their position within the industry.

Key Takeaways from Market Study

Kits are the leading segment as product, and hold approximately 7% market share in 2021. Growing demand for point-of-care diagnostic devices further compliments the market share for the kits segment, globally.
Infectious diseases, segmented by application, hold a market share of around 5% in 2021, owed to the advent of the COVID-19 pandemic, and the associated measures to prevent, detect, and manage infection proliferation.
By distribution channel, hospital pharmacies account for around 5% of the global market share in 2021, owing to the use of immunochromatography kits for rapid identification of pathogen for further disease monitoring in patients.
North America is considered as the leading region with a value US$ 3.2 Bn in 2021, owing to the high prevalence of disease and large demand for at-home testing kits.

“Rapidly ageing population, growing demand for point-of-need diagnostics, and rising government initiatives for infection prevention and control, are factors propelling demand within the global immunochromatography kits industry,” says an analyst of Future Market Insights.

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Market Competition

Key competitors in the global immunochromatography kits market adopt several strategies for product development and its adoption, including receiving emergency use authorization by regulatory bodies. Moreover, with the threat of infection spread due to the global COVID-19 pandemic, several competitors have reflected the SARS-COV2 antigen detection within their product range.

Key developmental instances include:

Beckman Coulter Inc., a manufacturer of laboratory equipment for Danaher Corp., received emergency use approval from the US Food and Drug Administration in October 2020 for its COVID-19 antibody test.
BioMérieux announced in May 2022 that its automated tests for diagnosing Chikungunya virus (CHIKV) infection on immunoassay instruments from the VIDAS® line have received CE marking.

Key Companies Profiled:

Abbott Laboratories
PerkinElmer Inc.
Danaher Corporation
Bio-rad Laboratories
Hoffmann-La Roche AG
bioMérieux SA
Becton, Dickinson and Company
Siemens Healthineers AG
Thermo Fisher Scientific Inc.
QIAGEN

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Key Market Segments Covered in Immunochromatography Kits Industry Research

By Product:

Readers
Kits

By Application:

Sexually Transmitted Diseases
Infectious Diseases
Diabetes
Pregnancy Testing
Drug of Abuse Testing
Others

By Distribution Channel:

Hospital Pharmacies
Retail Pharmacies
Supermarket/Hypermarket
E-Commerce

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About Future Market Insights (FMI)

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

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LED Driver IC Market Expectations & Growth Trends Highlighted Until 2028

Electronic technology has advanced dramatically during the last two decades. A wide range of active display drivers are used in today’s electronic displays (a driver is basically a semiconductor integrated circuit). Due to the increasing demand for LED lights, low power consumption electronic goods, and touch-enabled screens in consumer electronics and devices, the LED driver IC market is one of the fastest growing markets.

Furthermore, the growing use of energy-efficient lighting systems in homes, as well as outdoor and traffic lighting, is propelling the LED driver IC market forward. Global need for electronic devices, combined with energy-efficient lighting solutions, are important growth drivers for the LED driver IC industry.

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Furthermore, the global LED driver IC market is benefitted from the rising sales of LED TVs and LED lighting systems in developing and developed economies. An LED driver IC is an essential component of electronic devices and lightning systems. In addition to this, the increasing number of smartphones on a global scale is the key growth factor of the LED driver IC market.

LED Driver IC Market: Drivers and Challenges

The major growth drivers of the LED Driver IC market include the rise in the demand for energy-efficient electronic products, growing demand for high power density, and increase in various industrial applications. Furthermore, the increasing demand for energy-efficient lighting and high-quality picture images, coupled with several energy-saving government initiatives taken to ban conventional halogen bulbs are expected to propel the growth of the global LED driver IC market during the forecast period.

In addition, the increase in usage of consumer electronic devices is projected to drive the growth of the LED driver IC market, globally. Major challenges of the LED driver IC market are higher costs and thickness of device displays in comparison to other modules.

The LED driver IC market is expected to experience a shrink and fluctuation in growth rates because of the higher number of tracks that are required in case of an LED driver IC in comparison to other types of modules. In addition to this, worldwide financial uncertainty and macroeconomic situations such as currency exchange rates and economic difficulties are some of the major factors which are hindering the growth of the LED driver IC market.

The consumer electronics sub-segment is expected to experience high growth in the global LED driver IC market, due to the increasing demand for energy-efficient consumer electronic goods. Moreover, with the rising deployment of LED driver ICs in autonomous vehicles, the automotive sub-segment is expected to experience a high CAGR in the global LED driver IC market.

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Competition Landscape

Key Players

Some of the major players in global LED driver IC market include Samsung Electronics Co., Ltd., LG Display Co., Ltd., Analog Devices, ON Semiconductor, Toshiba Corporation, Texas Instruments, Inc., Seiko Epson Corporation, SEOUL Semiconductors, Renesas electronic corporation, Western digital, Mitsubishi Electric Corporation, and other manufacturers of LED driver ICs.

Regional Overview

Presently, the LED driver IC market in North America has shown significant growth rate, due to increasing advancements in public infrastructure. Due to the growing demand for energy-efficient electronic devices, coupled with technological advancements in the region, the LED driver IC market in North America is projected to experience a high growth CAGR. Asia Pacific (APEC) is holding the largest market share in the LED driver IC market, due the increasing demand from various industries and government initiatives taken to ban conventional halogen bulbs.

Moreover, Europe is the fastest growing market for LED driver ICs, due to an increase in the usageof consumer electronics devices. The demand for LED driver ICs has risen dramatically over the past 12 months, globally. The use of LED instruments in various industries in these regions are pushing the growth of the LED driver IC market.

The report covers exhaust analysis on

Market Segments
Market Dynamics
Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain

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Regional analysis includes

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

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.

LED Driver IC Market: Segmentation

The global LED driver IC market can be segmented as:

LED Driver IC Market Segmentation by Product Type:

Buck-Boost LED Driver ICs
Current Sink LED Driver ICs
Inductorless (Charge Pump) LED Driver ICs
Step-down (Buck) LED Driver ICs
Others

LED Driver IC Market Segmentation by Application:

Consumer Electronics
Healthcare
IT & ITES
Automotive
Telecommunication
Government
Other

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Rise in the Chronic Oral Diseases is expected to propel the Growth of the Handheld Dental X-Ray Systems market: Future Market Insights

As per Future Market Insights’ latest revised industry analysis, the global handheld dental x-ray systems market is estimated to be around US$ 211.9 Mn in 2022 and is expected to exhibit growth at a CAGR of 6.4% over the forecast period (2022-2032).

With age, the risk of developing diseases rises correspondingly. According to the Centres for Disease Control and Prevention (CDC), roughly one continuous ailment has a negative impact on close to 80% of senior Americans. The American Medical Association (AMA) predicts that by 2030, over 60% of persons aged 65 or older will be managing multiple chronic conditions.

The older population will spur interest in more advanced medical care facilities, diagnostic and therapeutic options. The prevalence of age-related disorders is predicted to rise with the rapid global growth in the elderly population.

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Additionally, a rise in vascular, dental, and cancer illnesses is fuelling the market for handheld X-ray machines. The government is funding numerous X-ray research initiatives, which can also fuel the market’s expansion.

Government assistance may contribute to the creation of advanced products and stimulate the market during the forecast term. Such advancements are fuelling the demand for various X-ray devices such as handheld dental X-ray devices.

According to the Centres for Disease Control and Prevention (CDC), periodontal disease affects around 47.2% of Americans over 30. In addition, rising dental prosthesis procedures have sparked the creation of novel dental technology, and the developed global healthcare infrastructure is actively promoting market expansion.

As a result, there are now more licences and permissions for handheld dental x-ray machines accessible on the market, which has improved the variety of goods available. In order to grow the industry and provide products that comply with regulations, businesses in the market are concentrating on acquiring regulatory licences.

Thus, the market for handheld dental X-ray systems will expand due to the growing usage of these products.

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Key Takeaways from Market Study

The dental clinics segment dominates the handheld dental X-ray systems market with over 6% value share in 2021, owing to the increasing chronic oral diseases.
North America accounts for the highest share of 6% of the global handheld dental X-ray systems market share in 2021, due to the increased incidence of oral cancer cases, increasing elderly population and increase in the number of product approvals in this region.
>150 X-ray shots system devices accounted for the highest share of 5% of the global handheld X-rays market share in 2021, due to the new features and overall efficiency of these products.
Europe market for handheld dental X-ray systems is expected to grow at a CAGR of close to 1% over the forecast duration, owing to a rise in the awareness for oral hygiene as well as education of people regarding treatment of periodontal diseases through these devices.

“Increasing incidence of periodontitis and associated diseases, and increasing number of approvals by the regulatory bodies to boost the market over the forecast period,” says an analyst of Future Market Insights.

Market Competition

In order to diversify their product offerings and increase their geographical presence, leading industry participants in the handheld dental X-ray systems market are concentrating on the development, introduction, and approval of innovative products.

On 30^th August, 2021 an e-commerce portal for the selling and distribution of dental goods has reportedly been developed in India by Vatech k/as “DentGanga”. This action is a part of Vatech’s larger plan to diversify its commercial ventures in nations where it holds the largest market share.
On 20^th January 2021, PolaroidHealth launched Rextar Portable X-Ray Generator with pistol grip.

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Key Companies Profiled