Market Research Blog – Page 9593 – New Product Development

Catalog Management System Market is CAGR of 8%, reaching US$ 3 Bn by 2032

The global market for catalogue management systems is anticipated to grow at a steady CAGR of 8%, from US$ 1.4 Bn in 2021 to US$ 3 Bn in 2032.

Rising consumer demand for items, expanding internet access, and increasing smartphone prevalence are likely to fuel catalog management systems market expansion, acting as a stimulus for catalog management solutions from e-commerce businesses. The catalog management systems market is fragmented since a significant number of firms compete in it.

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The major factors projected to boost the usage of catalog management software among companies and SMEs across a variety of sectors, including retail and e-commerce, media and entertainment, telecom, IT, and travel and hospitality, are increased cloud adoption and digital transformation.

Vendors in the catalog management systems market could expect additional prospects in developing nations throughout APAC and MEA. The market for catalog management software manufacturers is now profitable, as multiple firms from various sectors are rapidly implementing digital transformation across their enterprises.

Catalog management systems are profitable for catalog management software vendors during COVID because such software and solutions assist organisations in categorising and consolidating product or service data into a single digital point of location for organisations and their end customers, i.e. buyers. For businesses, the systems management and preserve product and service information, saving time and reducing human labour.

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The COVID-19 pandemic makes it even more critical for corporate executives across the Asia Pacific to accelerate cloud adoption and digital transformation, opening up the huge market potential for catalog management system manufacturers. The present epidemic, on the other hand, has driven the retail sector in the Asia Pacific to pivot toward digital innovation and eCommerce, creating massive market prospects for catalog management system manufacturers.

The main reason for the slow adoption of catalog management solutions is concerns regarding data security. Users are hesitant to use these solutions because they are afraid of losing their critical master and reference data owing to data mistakes that occur during compilation or upgrade. Users believe that their data privacy is in danger, that there will be no responsibility for data losses or thefts, and that no mitigation will be offered.

Furthermore, people are concerned about the security of their data. As a result, businesses choose providers that can adjust their existing systems in order to manage product information and compete.

The Asia Pacific has seen rapid and advanced adoption of new technologies, and it is expected to grow at the fastest rate throughout the projection period. Furthermore, IT investment in the region is constantly expanding, which is expected to result in an increase in the use of catalog management software solutions.

In terms of catalog management software solutions and services, China, India, Japan, Australia and New Zealand (ANZ) are the dominant countries in the area. While spending on IT solutions has surged in the Asia Pacific, the recent COVID-19 epidemic has caused a setback.

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Key Takeaways:

The solutions from the catalog management systems market are expected to grow at the fastest CAGR of 7.5% in the component sector.
Cloud is expected to grow at a high rate in the deployment type sector of the catalog management systems market, with a CAGR of 7.2%.
The market size for catalog management systems in the United States is expected to reach US$ 1.1 Billion by 2032, growing at a CAGR of 7.9% during the research period.
UK is expected to reach a market size of US$ 136.8 Million in the catalog management systems market by 2032, with a CAGR of 7.5% during the research period.
China’s catalog management systems market is expected to be worth US$ 200.8 Million by 2032, with a CAGR of 7.8% over the forecast period.
Japan is expected to have a market size for catalog management systems of US$ 172 Million by 2032, with a CAGR of 7.4% during the research period.
By 2032, South Korea is expected to reach a market size of US$ 117.7 Million in the catalog management systems market, with a CAGR of 7.4% during the research period.

Competitive Landscape:

To expand their offers in the market, catalog management system suppliers have employed a variety of organic and inorganic development tactics, such as new product releases, product upgrades, partnerships and agreements, business expansions, and mergers and acquisitions. IBM, Google, Microsoft, Oracle, and SA are some of the leading suppliers that provide catalog management system solutions and services throughout the world.

Key Segments

By Type :

Product Catalogs
Service Catalogs

By Component:

Solutions
Services
- Managed Services
- Professional Services

By Deployment Type:

On-premises
Cloud

By Organization Size:

Large Enterprises
SMEs

By Vertical:

BFSI
Retail and E-Commerce
Telecom
IT
Media and Entertainment
Travel and Hospitality
Others

By Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

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Smart Vase Market Size, Share & Growth Report for 2031

The demand for the smart vase is more because nowadays houses are becoming smart with many smart products and advanced automation systems. With this trend, players can be enhancing their product portfolio to providing an automated solution to make flower pot smart.

According to the latest research by Future Market Insights, the smart flowerpot market is set to witness steady growth during the forecast period. Demand for smart flower vases will witness a steady recovery in the short term, with an optimistic growth outlook in the long run.

The market is increased by customer’s choice for the fancy and attractive vase to decorate in house, particularly furniture and wooden flooring.

Also, the inclination of millennials towards the home plant driven the market of smart flower vases during the forecast period. This interest of people encourages the players to add Wi-Fi, Bluetooth connections in their product offering.

For instance, MXYZJCD Garden Store launched Bluetooth audio smart flowerpot colourful night light plastic vase touch plant music potted home decoration accessories.

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This flower pot is connected with the Bluetooth device having a 1200mAh power backup. This vase looks beautiful, fun and novel, and can plant vegetables and other real plants. Touching the leaves gives the effect of playing the piano. This feature attracts the millennials to purchase such smart flower pots.

Furthermore, Smart flower pots provide a wide range of connectivity features like when plant required water or sunlight or minerals this smart pot quickly response alerts the customer and also this vase is connected with the mobile application, which helps the consumer to adjust the requirements with their mobile phones and tablets. And this has a tactical change in the market for the adoption of smart flowering pots and related accessories.

Every people of the nations like India, Bangladesh, Georgia, Luxembourg etc. cannot afford these smart flowerpots because these are comparatively costlier than the conventional vase. So it is a good opportunity for the players to invest in the research and development sector and introduce a smart flower pot in a market at a reasonable price and gain a competitive advantage in the market.

Factors that Likely to Augment Smart Vase Sales

The smart flower vase can ping the user to control heat loss and solar gain experienced feel by the plant in houses by just adjusting its position at fixed hours during the day. Many players launched a smart flowerpot that can effectively sense the emotion of the plant, depending on the efficiency of sunlight and temperature, and expand the heating, ventilation, and air conditioning system efficiency.

For instance, Mu Design introduced Lüa smart planter which shows 15 animated emotions based on the plant feel. Also, let to know what plants need to thrive. Sensor present in the vase shows accurate emotion based on temperature, soil’s moisture and light exposure.

This vase is connected with the mobile application where users can select the type of plants and also customized settings according to their local weather conditions. The vase displays different emotions like if light exposer is not enough than vampire emotion will appear on the vase if the user forgets to water the plant than thirsty animation takes over and so many other emotion appears.

Such advance features present in the smart flowerpot gives the idea to other players to launch such smart pot and also encourage users to purchase such smart products.

Impact of Covid- 19 on Smart Vase Market

The COVID-19 pandemic had three effects on the global economy: direct effects on production and demand, supply chain and market disruption, and financial losses to enterprises. Prior to the COVID-19 pandemic, global demand for smart devices was growing at a gradual pace. Major worldwide markets have encountered major impacts as a result of the pandemic.

Major economies supply chains, such as China’s and the United States, have suffered large decreases. There has been a drop in home building projects as well as the temporary closure of many manufacturing facilities as a result of Covid 19.

Furthermore, the smart flowerpot business has been hampered by a lack of personnel in the field, lower consumption, high production costs, and a scarcity of raw materials, among other factors. Also, the changing consumer buying habit impacts the market growth.

The US and Canada Smart Vase Market Outlook

The most technologically advanced generations are thought to be the youngest ones. Because these generations have witnessed several technological advancements, millennials expect firms to supply a greater choice of items. The younger generation is captivated by smart products. Millennials are the generation most interested in having smart technology in their homes.

They are also environmentally conscious and advocate for the usage of sustainable products. Teenagers are enthusiastic about lowering their carbon impact and promoting long-term sustainability. They are more likely to alter their behavior in order to lessen their carbon footprint or to support eco-friendly businesses. Many players provide smart vase made with sustainable raw materials and are chemical and toxic-free. And also have a good battery backup which does not require a regular power connection. Such benefits attract the consumers to adapt to the advanced smart pots in the United States & Canada.

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Furthermore, people of the US and Canada having high aspirational values towards the latest new up-to-date advanced technology. And all aged group people adopt facilities which have led to the acceptance of the smart flowerpot in the regions.

Europe Demand Outlook for Smart Vase

Demand for home automation systems is growing significantly in European countries and the reason behind this growth is urbanization. The growing trend of the urbanization improved living standard of people, which led European to spend more on smart technologies for their houses and living spaces. Also, the rising per capita income of European people has raised spending on their houses as well as smart products including smart vase.

People also use this smart flower pot for the gift for, family, beloved, colleague, kids, parents etc. Moreover, in the smart flowerpot Bluetooth speaker is present. That is why people prefer this smart pot in place of the speaker which has dual work. In this way, the sales of the smart flowerpot are increases in Europe.

Who are the Key Manufacturers and Suppliers of Smart Vase?

Some of the leading manufacturers and suppliers of smart flowerpots include

Smart Pot.
Indiegogo, Inc.
FUNNYFISH DESIGN
Forma&Cemento
Xiaomi
Autodesk, Inc.
Room Professional Simplifi-er Store
Meredith Corporation
MXYZJCD Garden Store
Amaranth Vases
The Brandstätter Group, and many others.

Pro players of the smart flowerpots are improving their penetration towards the digital ecosystem along with advanced technology mobilization and enriched asset connectivity. Enhanced products offering along with high-end technology helps in the growth of the market.

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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Key Segments

By Material Type:

Plastic
Metal
Ceramic
Stone
PVC
Others

By Application:

Home
Offices
Hotels
Hospitals
Other

By Shape:

Square
Rectangular
Trumpet
Amphora
Others

By Distribution Channels:

Direct Sales
Hypermarkets/ Supermarkets
Online retailing
Others

By Region:

North America
- US & Canada
Latin America
- Brazil, Mexico, Others
Western Europe
- EU5
- Nordics
- Benelux
Eastern Europe
Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- India
- ASEAN
- Rest of Asia Pacific
Japan
Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa

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

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Portable Stick market is set to witness a CAGR of 6.2% during 2021-2031

The awareness of self-defense in people for any type of battle has led people to the adoption of sticks for self-defense and walking. As a result, leading market participants are focused on developing more portable sticks with innovative ideas that are adaptive to the necessary situations. The market is set to witness a CAGR of 6.2% during 2021-2031.

What is Driving Demand for Portable Stick?

The primary element driving the market internationally is the growing incidences of civil unrest around the world. Recreational activities such as camping and hunting, in addition to civil unrest, contribute to the demand for self-defense sticks.

Furthermore, the availability of a variety of easy personal safety items from manufacturers is helping the industry in gaining widespread popularity among customers. Manufacturers are likewise concentrating on designing sticks with multi-functionalities.

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These sticks are an essential tool for individuals because of their compact size and folding feature with a lock. It can be used for a variety of purposes, including combat and self-defense in dangerous situations. People’s need for self-defense and survival is predicted to contribute to the demand for portable sticks, consequently propelling the global market in upward projections.

Moreover, the features of collapsible type, lightweight, shockproof mechanism with adjustable length is another driving factor. The ease-of-usability might be the factor leading to the preference of such sticks across population and has led a pathway for the growing market.

Trend of Walking Stick as a Self-Defense Tool Likely To Augment Sales

People have long been taught how to defend themselves using a walking stick. When assaulted, a walking stick is likely to be the only weapon in the hands of the average individual. Besides, blind people frequently use their cane for self-defense and to avoid other obstacles.

Young people are becoming increasingly interested in cane combat systems such as taekwondo, judo, and jujitsu in order to get competency in handling a battling situation. Special certifications and classes for gaining such abilities have been a trend for a long time, which has had a favorable impact on market growth.

In addition, police agencies, security guards, and other defense sectors have been regularly adopting such equipment for self-defense in dangerous situations. The fact that it can be learned in a very short amount of time without requiring vigorous activity and that it can be learned by men, women, and children of all ages has been an appealing point for new consumers.

Impact of COVID-19 on Portable Stick Market

The pandemic has resulted in dramatic loss of businesses worldwide and has presented unprecedented challenges for the smart cane market growth. Numerous enterprises have been facing existential threats. In absence of the means to earn an income the workers are facing challenges in their daily livelihood.

The economic disruptions to the logistics and supply chain has also devastated the labor and employment on global scale, thereby, restraining the growth of smart cane market. The lack of raw materials and other facilities are hampering the manufacturers of smart cane leading to a huge loss and is likely to restrain the smart cane market growth.

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US and Canada Portable Stick Market Outlook

In terms of market share, North America has been the most significant contributor in global market. The majority of demand comes from consumers in the United States who use folding sticks, walking sticks, and other multipurpose sticks. Over the projected period, a rapid increase in spending in research & development of more efficient self-defense weapons for civilians is expected to enhance market growth.

Furthermore, rising crime rates in Canada are forcing significant changes in government legislation, which is projected to broaden the market’s scope.

Europe Demand Outlook for Portable Stick

The market for self-defense items in Europe is expected to increase at a rapid pace. Terrorist attacks, burglaries, and vandalism are all on the rise in Europe, which is boosting the need for self-defense products. Furthermore, the region’s high self-defense actions are fueling a substantial demand for personal defense tools.

The rise in recorded female attacks has increased women’s anxiety and insecurity, which has resulted in increased sales of self-defense gear such as pepper spray, batons, and other similar items in Europe. In addition, the entry of large numbers of migrants and refugees in Europe across the area is driving demand for self-defense equipment.

Who are the Key Manufacturers and Suppliers of Portable Stick?

Some of the leading manufacturers and suppliers of self-defense stick include

Euro Security Products s.r.o. (Ltd.)
Richmond Kung Fu, pew pew tactical
The Stinger Tools
SENIORITY.IN
Thrill Ltd. (Farbge)
FAST STRIKE EUROPE
Mace Europe and among others.

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Key Segments

By End User:

Men
Women
Kids

By Material:

Stainless Steel
Rubber
Plastic
Other

By Sales Channel:

Supermarket/Hypermarket
Specialty Stores
Wholesalers/Distributors
Online Retailers
Convenient Stores

By Region:

North America
- US & Canada
Latin America
- Brazil, Mexico, Others
Western Europe
- EU5
- Nordics
- Benelux
Eastern Europe
Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- India
- ASEAN
- Rest of Asia Pacific
Japan
Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa

The Water Electrolysis Machine Industry Will Expand At A Healthy 7.7 Percent CAGR Through 2030

The coronavirus pandemic has affected marginally the global water electrolysis machine market. As per a new report by Future Market Insights (FMI), the industry surpassed US$11.71 billion in 2022 and is estimated to reflect a healthy 7.7% CAGR through 2030. Innovations in crude oil processing applications will support developments in the market.

Despite the steady rise of the water electrolysis machine market, prohibitive capital costs and high levels of electricity consumption restrain the market growth.

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Key Takeaways from Water Electrolysis Machine Market

The size of the water electrolysis machines market is estimated to surpass US$10.2 Bn by the end of 2020, with renewable energy and chemical applications being the driving factors behind the industry.
Alkaline water electrolysis machines will witness high demand, while PEM options are also likely to reflect steady growth on the back of higher efficacy in electrolysis processes.
500 to 2000 L/Hr offerings in the water electrolysis machines market reflect relatively higher demand, owing to the reduced risk of hydrogen crossovers.
East Asia is a prominent regional market reflecting relatively faster growth in adoption rates owing to major scope for industrial applications in China and Japan.

“Higher investments and favorable policies by government towards the development of sustainable, renewable energy sources, and the use of hydrogen in steel, chemicals, electronics & semiconductors, petroleum, electronics, pharmaceuticals, and power generation, are major factors driving the growth of the global water electrolysis machine market,” said a lead analyst from FMI.

COVID-19 Impact on Water Electrolysis Machine Market

I expected the growth of the water electrolysis machine market to be marginally slower than in previous years owing to the ongoing coronavirus pandemic. Restrictions on transportation, logistics, and trade have disrupted supply chains for raw materials and components essential for the functioning o the water electrolysis machines.

Restrictions on non-essential commodities also hurt market growth. The market is likely to start recovery towards the end of 2020. The focus on research activities and product development are likely to aid market players in leveraging growth opportunities in the post-pandemic era.

Who is winning?

The market study by Future Market Insights has provided in-depth details on major business strategies that play influencing roles in the water electrolysis machine market. Major players in the industry have been focused on strategic acquisitions and collaborations, besides the consolidation of market presence through product development endeavours.

Air Products & Chemicals Inc., Toshiba Energy Systems & Solutions Corp., Nel ASA, Thyssenkrupp Uhde Chlorine Engineers GmbH, AREVA H2Gen, Teledyne Technologies Inc., Asahi Kasei Corp., Kobelco Eco-Solutions Co. Ltd., C&E Environmental Technology Co. Ltd. are major companies operating in the water electrolysis machine market.

More Insights

The report by Future Market Insights has provided a comprehensive analysis of the global water electrolysis machine market, with crucial data on historical demand (2015 – 2019) and forecast data (2022 – 2030). The report also covers the analysis of the market based on pricing, costs, and other market dynamics, which influence developments in the varied applications of water electrolysis machines.

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About Industrial Automation Division at Future Market Insights

The Industrial Automation & Equipment division at FMI adopts a novel approach and innovative perspective in analyzing the global machinery and industrial automation market. A range of FMI’s market research reports offers comprehensive coverage of capital, portable, process, construction, industrial, and special-purpose machinery used across the manufacturing sector. The team also conducts distinctive analyses about the installed base, consumables, replacement, and USP-feature application matrix, making us a prominent voice of authority in the industry. We are associates of choice for established as well as a budding industry

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 Industrial Nailers Market Will Expand At A 7.9 Percent CAGR, Predicts FMI.

Global demand for industrial nailers is expected to grow at a rate of nearly 7.9 percent, with end-users favouring cordless industrial nailers. FMI, an ESOMAR-certified firm, has released a new study that provides detailed insights on key factors that are likely to influence the industrial nailers market in the long run. The Industrial Nailers Market is expected to reach US$ 629.6 Mn in 2022, growing at a robust 7.9 percent CAGR from 2022 to 2030.

Key Takeaways from FMI’s Industrial Nailers Report

The US and East Asian countries will remain epicenter of growth, accounting for over 50% of the revenue share by 2030
Cordless industrial nailers will outsell pneumatic variants
Framing & sheathing nailers to capture nearly a quarter of the revenue share
Automatic nailers are projected to surge in popularity, gaining 170 BPS from 2020 to 2030
Furniture segment to generate an incremental $ opportunity worth US$ 153 Mn

“Concerns regarding injuries while using industrial nailers are prompting vendors to introduce enhanced safety features within their products, thus reducing accidents,” concludes the FMI analyst.

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COVID-19 Impact Analysis

The COVID-19 pandemic is slated to have a debilitating impact on world economic growth projections for FY 2020-2021 or possibly even longer. As economic activities of all countries have almost come to a standstill, major supply chain disruptions are on the cards.

The maximum brunt of this shortfall is being felt by the automotive and construction industries, both exhaustive users of industrial nailers. Mandatory social distancing protocols to curb the virus’s spread has compelled major construction and automobile manufacturers to cease all on-site projects, leading to reduced output.

Falling production levels across the aforementioned industries have also reduced demand for pneumatic, cordless and gas-powered industrial nailers. This is expected to impede the revenue prospects of the market in the short-term forecast period.

While the conservative estimates pegs recovery between the next 8 to 14 quarters, the optimistic scenario projects growth to rebound within the next 5 to 8 quarters. Slowdown shall be moderate as consumers are relying on their own carpentry skills to repair their furniture, keeping demand sustained to a significant extent.

Competitive Landscape

The global industrial nailers market is highly consolidated, with top-notch players relying on product launchers, divestures and acquisition of rival players to stay afloat. These include Stanley Black & Decker, Illinois Tool Work Inc., MAX Co. Ltd., Koki Holdings America Ltd., and Robert Bosch Power Tools GmbH.

In 2018, MAX USA CORP. released the New PowerLite High-Pressure Coil Framing Nailer. This nailer has power to drive nails through engineered lumbers such as laminated strand lumber (LSL) and laminated veneer lumber (LVL) respectively.

In 2019, Stanley Black & Decker divested its Sargent and Greenleaf mechanical locks business within the security segment. In 2020, Everwin Pneumatic Corp launched a new product for industrial coil nailers known as PN59 for the automotive segment.

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Industrial Nailers Industry Survey

Industrial Nailers Market by Category:

Pneumatic Industrial Nailers
Cordless Industrial Nailers
Gas-powered Industrial Nailers

Industrial Nailers Market by Product:

Brad & Pins
Coils
Roofing
Framing & Sheathing
Flooring
Sliding & Fencing
Others

Industrial Nailers Market by Operation:

Handheld Industrial Nailers
Automatic Industrial Nailers

Industrial Nailers Market by Nail Length:

Less than 20 mm
20 to 40 mm
40 to 60 mm
60 to 80 mm
Above 80 mm

Industrial Nailers Market by Application:

Furniture
Millwork
Pallets & Crating
Leather Goods Manufacturing
Steel Skids
Construction & Framing
Automotive Interiors
Others

Key Questions Answered in the Report

At what rate will the industrial nailers market grow?
How big is the global industrial nailers market?
What are the key trends in the industrial nailers market?
Which region holds the largest share in the global industrial nailers market?
Who are the top players in the global industrial nailers market?

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Non-Destructive Testing (NDT) Inspection Services In Asia And The Pacific The Market Is Anticipated To Be Significantly Impacted By The Industry

As India and China are on the verge of major developments in all sectors, Asia Pacific is expected to provide incredible opportunities for the market. The growing demand for dependable medical instruments in India is expected to fuel the demand for NDT inspection prior to commercialization.

The global non-destructive testing (NDT) Inspection services market Revenues are increasing as various end users invest in making their methods safe for workers and consumers. NDT inspection services, which are primarily used to identify defects, faults, and cracks, play an important role in industries that rely on machinery for automation. Constant checks ensure that safety is evaluated in order to keep the processes running.

Growing investments in railroads, the aerospace industry, the art market, and the healthcare sector are expected to drive market growth in the coming years. Ultrasonic testing is expected to be in high demand in the market because it is simple to use, portable, and provides precise results in a short period of time.

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The market is also expected to be driven by the aging infrastructure that requires constant upgradation to ensure safety. Detection of instabilities and component failures help in implementing preemptive measures, reducing downtime and cost due to delays.

Advancements in radiographic testing equipment with industrial CT scanners has also emerged as strengthening trend in the global market. Future Market Insights predicts that the global NDT Inspection Services market will reach a valuation of over US$ 28 Bn by the end 2030.

Key Takeaways from Global NDT Services Market Study

Asia Pacific to emerge as the leading regional segment as power plants and manufacturing activities are slated to surge in forecast period
Ultrasound to occupy sizeable chunk in the market as it remains widely used equipment for assessing dysfunctionalities
Oil and gas sector to employ NDT inspection services at a growing rate to avoid spillage, leaks, and other accidents
Government initiatives such as “Make in India”, “Industry 4.0”, and “National Infrastructural Plan” to boost market growth in coming years

Manufacturing Sector to Lead the Way for Global NDT Inspection Services

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The manufacturing sector is expected to grow at an unprecedented pace across regions being a major contributor to global economy. This sector is expected to register a CAGR of more than 6% between 2020 and 2030. As more and more number of manufacturers are trying to automate tasks, they are likely to require testing methods to identify faults in machinery and equipment. Thus, between 2020 and 2030, the NDT inspection services are likely to see extensive application in the manufacturing sector.

The rise of automotive, aerospace, defense, electrical and electronics manufacturing, especially in India and China are expected to boost the uptake of NDT inspection services. Furthermore, stringent laws pertaining to the worker safety across developed nations is also anticipated to lead to a revenue generation for NDT inspection services in the near future.

COVID-19 Impact on NDT Services Market

The manufacturing sector has been terribly hit by the COVID-19 pandemic. Brining the economies to halt and disrupting the supply chains, the pandemic has also prevented manufacturing activities. Stringent norms of social distancing to prevent infections have resulted in reduced manufacturing activities.

Labor migration back to villages, especially in a country like India, has affected the manufacturing activity beyond measure. Furthermore, plummeting consumption as consumers get cost conscious spending and chances of infection via deliveries, it has addled the manufacturing issues. In the light of this, the NDT inspection services market is expected to suffer as third-party vendors stand to lose their contract renewals.

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More Valuable Insights on Global NDT Services Market

FMI’s research on the global NDT inspection services market is segmented into four major segments. To begin the market for global NDT inspection services is segmented into offering type, which includes NDT Inspection Services and equipment. On the basis of test method, the market is segmented into visual testing, magnetic particle testing, liquid penetrant testing, Eddy current testing, ultrasonic testing, and radiographic testing. On the basis of industrial vertical, the market is segmented into oil and gas, manufacturing, aerospace and defense, construction, automotive, power generation, and others. Regionally, the market is divided into North America, Latin America, Europe, East Asia, South Asia and Pacific, and the Middle East and Africa

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Automatic Door Control Market Size, Share, Development by 2032 – FMI

The market for automatic door controls is anticipated to reach a value of US$ 24,267.4 million in 2022 and register a moderate CAGR of 7.8% over the same period. By 2032, the market is projected to increase in size and reach US$ 51,365.6 million. According to Future Market Insights’ analysis, the historical CAGR was 4.6%.

Due to the fact that they are operated automatically by a variety of sensors, including photoelectric sensors, infrared sensors, and others, automatic doors are becoming increasingly popular on the market.

Automatic door control is widely deployed in public places like theatres, hotels, shopping malls, grocery stores and many others to eliminate the tedious job of opening the door manually.. Sensor based automatic door control technologies include ultrasonic/radio, infra-red and other wireless sensing methods. The automatic door control system is basically based on intention analysis and human detection. This is achieved with the assistance of a passive infrared sensor.

A live body emits infrared energy which is sensed by the PIR sensor from a considerable distance. This sensed signal is transferred to a microcontroller which in turn operates the door motor. While the closure of the door is managed through a fixed time delay. Further, interrupt signals are controlled through limit switches to avoid locked rotor condition of the motor. Automatic door control is a widely used product especially in the developed economies to avoid human labor and workforce.

Global Automatic Door Control Market: Drivers

The key factor driving the global automatic door control market are high disposable incomes. Moreover, changing lifestyles of people also accounts for a major share in driving the global automatic door control market. Improvement and increase in construction activities and adoption of automation in most of the developed regions is another factor driving the growth of the market. Moreover, increased construction of malls, high technology airports, grand hotels and multiplexes have led to the growth of the global automatic door control market.

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Regional analysis includes

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

Global Automatic Door Control Market: Restraints

High initial costs is one major challenge pulling down the growth of the global automatic door control market. Moreover, heavy maintenance and repair costs and less demands of automation in small and emerging economies restricts the global automatic door control market to grow. Further, increased price of raw materials like metal and glass is another factor restricting the builders or owners to use such automatic doors thus challenging the overall growth of the global automatic door control market.

Global Automatic Door Control Market: Region Wise Outlook

North America and Western Europe are the biggest markets for automatic door control because of high tech developments in the regions. Developed regions like North America and Western Europe are mature markets in terms of automatic door controls. Asia Pacific is the fastest growing market followed by Middle East and Africa. Eastern Europe and Latin America are also showing positive growth in the global automatic door control market. Asia Pacific is expected to witness significant growth due to increasing development and automation in the developing economies like India and China.

The report covers exhaustive analysis on:

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

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By Segmentation

The global automatic door control market can be segmented on the basis of geography, type, operating mechanism, technology and application. On the basis of geography, the global automatic door control market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Middle East and Africa and Japan. On the basis of type, the global automatic door control market can be segmented into glass doors, metal doors, plastic doors and composite doors.

Key Players

Some of the major players in the global automatic door control market are GEZE Corporation, Door Controls Inc., Dorma, Automatic Door Controls Inc., Thomas Door and Windows.

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 categories such as market segments, geographies, types, technology and applications.

Report Highlights:

Detailed overview of parent market
Changing market dynamics in the industry
In-depth market segmentation
Historical, current and projected market size in terms of volume and value
Recent industry trends and developments
Competitive landscape
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on market performance
Must-have information for market players to sustain and enhance their market footprint

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The Market For Automatic Ducting Machines Is Expected To Grow At A Fast CAGR Of 4.1% From 2022 To 2032

In 2022, the market for automatic ducting machines is projected to reach a value of US$ 1,554.2 Million, and by 2032, it is projected to reach a value of US$ 2,322.9 Million, with a CAGR of 4.1%. Demand from the chemical processing and utilities/power industries is a contributing factor in the growth of the market for automatic ducting machines. The historical period from 2016 to 2021 saw a CAGR of 3.6% for the market for automatic ducting machines.

Wet steam decreases thermal efficiency in any type of industrial engine, and it can also result in a hydraulic lock or erode internal components. Thus, in many industrial processes where handling steam and moisture is inevitable, automatic ducting machines become a necessary component. A typical steam separator uses a tangential inlet and cyclonic action to instantly separate steam and condensate, however, simpler versions are also available.

Automatic ducting machines are available in a wide variety of sizes, pressure ranges, and applications. The expansion of the end use industries is directly correlated with the demand for automatic ducting machines. Over the forecast period, the global market for automatic ducting machines is anticipated to grow with a moderate CAGR due to the generally increasing growth rates of end use industries.

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2016-2021 Automatic Ducting Machines Demand Analysis vs. Forecast 2022-2032

According to a report from Future Market Insights, the market for automatic ducting machines is expected to grow at a CAGR of 4.1% between 2022 and 2032, reaching a total of US$ 2,322.9 Million in 2032. (FMI). Sales increased significantly between 2017 and 2021, with a 3.6% CAGR.

The rapid adoption of automatic ducting machines is largely due to the presence of end user industries like chemical processing, pharmaceuticals, and oil & gas. Because of the COVID-19 pandemic’s restrictions on activities in some workplaces, the demand for automatic ducting machines was impacted.

The need for energy derived from various energy sources is anticipated to cause an increase in demand for automatic ducting equipment in the upcoming years. Additionally, it’s anticipated that during the forecast period, automation, speed increases, and innovation will alter the dynamics of automatic ducting machines.

Market Competition

Eaton, Didion Separator, Colton Industries, Kelburn Separation Specialists, Cole Industries Inc., Spirax-Sarco Engineering plc, Forbes Marshall, Kadant Inc., Sesotec Gmbh, and Penn Separator Corporation are major market participants in the automatic ducting machine market.

Penn Separator Corporation, a key player in the automatic ducting machines market is focusing on offering different types of ducting machines for various end user industries.
Kelburn Separation Specialists, another key player in the automatic ducting machines market is focusing on offering gas separators that lowers heat transfer rates.

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Key Segments Profiled in the Automatic Ducting Machine Industry Survey

Automatic Ducting Machine by Material Type:

Cast Steel Automatic Ducting Machine
Stainless Steel Automatic Ducting Machine
Aluminum Automatic Ducting Machine
Bronze Automatic Ducting Machine

Automatic Ducting Machine by Structure Type:

Flanged Automatic Ducting Machine
Fabricated Automatic Ducting Machine
Flanged and Fabricated Automatic Ducting Machine
Other Automatic Ducting Machine Structure Types

Automatic Ducting Machine by End Use Industry:

Automatic Ducting Machine for Utilities/Power
Automatic Ducting Machine for Chemical Processing
Automatic Ducting Machine for Oil and Gas
Automatic Ducting Machine for Paper and Pulp
Automatic Ducting Machine for Pharmaceuticals

Automatic Ducting Machine by Region:

North America Automatic Ducting Machine Market
Latin America Automatic Ducting Machine Market
Europe Automatic Ducting Machine Market
East Asia Automatic Ducting Machine Market
South Asia & Oceania Automatic Ducting Machine Mark
Middle East & Africa Automatic Ducting Machine Market

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North America Records A 22.5% Market Share In The Global Thermal Cleaning System Market

The market for thermal cleaning systems worldwide was projected to be worth US$ 214 million in 2022. The market is anticipated to reach roughly US$ 282.5 Million by 2032, with a growing CAGR of 2.8% from 2022 to 2032, according to the report released by Future Market Insights. Due to the constantly growing pharmaceutical sector worldwide, heat cleaning systems are in high demand to improve the efficiency of the granulation, drying, and coating processes.

It is a straightforward hypothesis that thermal cleaning systems convert solid organic pollution like paint, oil, rubber, and food remnants into dust remnants by using a combination of heat and reduced oxygen levels. In plainer terms, fifty grammes of dust, which is easier to remove, will be created from one kilogramme of pollution. The heat penetrates every area of the polluted part, which is another of this cleaning system’s major advantages. As a result, dust conversion will occur anywhere the parts need to be cleaned.

The heat cleaning system is frequently employed in industrial settings where it is utilised to eliminate any organic materials, including coatings, from manufacturing tools like spinnerets, screw and static mixers, or polymer plastics. The use of thermal cleaning systems in industrial settings is expanding. Air is supplied for oxidation in this system, and heat is given for pyrolysis. Additionally, depending on the process, oxidation and pyrolysis can be used together.

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Some of the key benefits of thermal cleaning systems which are supporting the market growth:

Thermal cleaning system prevents cross-contamination and also enhances infection control compliance and that too in a speedy manner.
Thermal cleaning will kill a large number of common microorganisms and bacteria, and hence extensively used in medical processes.
It rinses out any harsh chemicals used in the wash process out of the fabric to leave it pH neutral and ensure no harmful residue remains.

Key Trends Driving Sales of Thermal Cleaning Systems

Fast growing pharmaceutical industry across the globe is the key factor responsible for the growth of the global thermal cleaning system market. Also, the macroeconomic factor which drives the market further is the developing economies such as Brazil, India, China, and Argentina.
Thermal cleaning systems are easy to install, environment-friendly and user-friendly for removing plastics residues from all types of tools and long components. This makes the demand across several industries.
Across the world, there is an expansion in the chemical industries due to greater demand for granulating and drying processes of chemicals, this factor further contributes to the growth of the market.
Due to the increasing demand for processed food amongst consumers, the food and beverages industry is blooming, and this is said to be accountable for the growth of the thermal cleaning market during the forecast period. Moreover, considerably increasing the need for paints in the chemical industry and commercial as well as industrial purposes is propelling the market further.
Some factors such as mergers and acquisitions with domestic players and growing distribution channels will assist in growing the thermal cleaning market across the globe. Manufacturing high technological thermal cleaning systems for decreasing nitrogen oxide emission across the world coupled with embedded programmable logic controllers and touch screens are some of the key trends of the thermal cleaning market.

North America Holds a Significant Market Share

In the market for thermal cleaning systems globally, North America holds a 22.5% market share. For numerous processes like granulation, drying, and coating, the chemical and pharmaceutical industries in this region have a higher requirement for thermal cleaning. Because the United States is the region’s dominant manufacturer and exporter, the market is expected to grow profitably during the projection period. Additionally, the ever-expanding food and beverage industry is also responsible for the expansion of the thermal cleaning system market in North America.

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The advanced infrastructure and high spending of the American healthcare system are well known. To regulate the care system in this nation, several regulatory laws and regulations have been implemented. This nation has also devised numerous cost-effective strategies to minimise its reliance on healthcare.

How is the market in Europe doing?

The market share for thermal cleaning systems in Europe has remained constant at 24% of the global market. The presence of additional food and beverage firms, as well as an increasing number of cosmetics companies, is expected to cause the Europe market to grow at a modest rate during the projected period. The pharmaceutical sector is well-established in Europe, which has contributed to the expansion of the market in this area. Europe has an advantage in terms of the most recent innovations and the presence of key industry players due to the significant weight that the continent gives to technology.

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The Steel Pipe Market In North America Has The Highest CAGR At 28.3%.

With a 28.3% share of the steel pipe market, North America has a significant impact. The pipeline network is expanding, energy and infrastructure projects are increasing, steel pipes are in greater demand in the vehicle industry, power plant capacity is increasing, and the oil and gas industry is booming, all of which are driving the steel pipe market.

In 2022, it is predicted that the global steel pipe market will most likely reach a value of US$ 90,122 Million. By 2032, the market for steel pipes is anticipated to grow at an average CAGR of 5.4% and reach US$1,51,905 Million.

An increase in oil and gas production to meet the demands of the transportation industry is one of the most significant factors propelling the growth of the steel pipe market. The oil and gas sector is where steel pipes and tubes are most commonly used. Steel pipes are used in this industry to transport gas and liquid. In their manufacture, low alloy and carbon steel are frequently used. As a result, manufacturers take into account the cost of raw materials and work with specialised suppliers to provide cost advantages to their target market.

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Global Steel Pipe Market: Region-wise outlook

The Asia Pacific is estimated to have a major share in the global steel pipe market. China has many manufacturers in the steel pipe industry, which makes it a dominating player in the Asia Pacific market. The countries in North America, such as the U.S. and Canada with developed steel manufacturing industries, represent as prominent regional markets.

Moreover, the U.S. has produced a wide range of products related to carbon and stainless steel. The U.S. president Mr Donald Trump also signed a memo for new steel pipelines with the use of U.S.-manufactured raw steel. Based on these factors, the U.S. is estimated to have a hefty market share in the steel pipe market globally. The replacement of ageing pipelines in Europe is expected to gain high market growth over the coming years. Latin America has sluggish growth in the global steel pipe industry market. The Middle East and Africa are estimated to show sustainable growth due to rising oil and gas industries.

United States

Steel pipe demand has been bolstered by sustained economic growth in the country, supported by fiscal stimulus from the government, and the resulting improvement in company confidence.

In addition, the United States has seen significant growth in crude oil output, which has offered steel pipe market participants attractive chances to profit from. There have been a lot of ups and downs in the US steel pipe market over the past several years, with strong growth in 2017 and 2018, especially in the oil and gas industry. The reduction in demand for oil prices is expected to have a negative impact. Industrial limitations are expected to be eased during the next few years, allowing the sector to revive.

Brazil

Brazil’s economy has been showing considerable activity, albeit at a modest rate. In recent years, the steel pipe market has been driven by industrial growth in the country as well as rising consumer prices in the region. Latin American economic uncertainty has had an impact on steel production. As a result, Brazil has seen a decline in imports of finished steel products, while the country’s crude steel production has remained relatively consistent.

The ongoing trade tensions between China and the United States, as well as tight economic conditions and lower commodity prices, are major concerns for Brazilian steel pipe market participants. Brazil is the only country in Latin America that has been able to sustain a surplus of completed steel commerce, accounting for more than half of the region’s steel pipe market share.

Favourable government measures in the country are forecasted to also aid in a healthier monetary environment and the reduction of inflation. Due to improved business confidence in the industrial and construction sectors through 2021, the steel pipe industry is expected to grow throughout the projected period.

Canada

Steel pipes are in high demand in Canada because of the country’s relatively high cost compared to numerous Latin American countries. However, the government has been confronted with difficulties due to major drops in crude oil prices and a persistent reduction in energy industry demand.

As a result, steel prices have fluctuated, making it difficult for businesses to make a profit. As steel prices rise and the Canadian dollar depreciates, the steel pipe market is expected to develop steadily but slowly until 2030.

Russia

Due to rising consumer demand for steel pipe, Europe has a competitive share in the worldwide market, with Russia accounting for a significant portion of this market share. During the projection period, the country would be able to lead the seamless steel pipes sector in Europe due to ongoing and upcoming oil and gas projects.

China

Customers in China are becoming more affluent and have more disposable cash, which has a beneficial effect on the steel pipe market. Demand for steel pipes is increasing as a result of an increase in demand for contemporary house interior design and architecture.

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Global Steel Pipe Market: Drivers

As the oil and gas industry is growing rapidly, the demand for steel pipes is also increasing. Features such as reliability and durability are some of the prominent factors driving the global demand for steel pipes. Steel pipes have a wide range of usability, they are used in the automotive, mining and construction industries, which drives the manufacturing steel pipe industry. The available range of steel pipes becomes one of the reasons surpassing the demand of residential and non-residential sector of steel pipes. The replacement of ageing pipelines also increases the global demand for steel pipes.

Global Steel Pipe Market: Restraints

Substitutes such as iron and plastic pipes, which create diversions for the manufacturer towards other material pipes, are estimated to restrain the market growth. The corrosive behaviour of carbon steel pipes is one of the restraining factors, and the high cost of stainless steel also hinders the growth of the global steel pipe market.

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