Chilled Beam System Market Navigation, Imaging and Positioning Solutions Market

A latest research report drafted by Future Market Insights covers in-depth analysis with pertinent insights with a focus on key developments, innovations, drivers and restraints from a technological standpoint. The research publication titled “Chilled Beam System Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)” includes weighted analysis on each segment of the market and its scenario across key regions globally. The changing market dynamics across all regions are studied, assessed and reflected in this research based on which a 10 year future market forecast analysis is carried out.

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Global Chilled Beam System Market: Forecast Highlights
The global chilled beam system market is expected to grow at a significant growth rate to register a CAGR of 6.4% throughout the period of forecast. It is estimated to reach a value of more than US$ 450 Mn by the end of the year of assessment (2027) from a value of US$ 243 Mn in 2017.

Global Chilled Beam System Market: Growth Influencing Aspects
There are numerous aspects that influence the growth of the global chilled beam system market. Few aspects such as increase in demand for energy efficient systems like chilled beams owing to stringent building energy codes in various developed countries like U.S and Canada, rising spending in healthcare construction driving the demand for chilled beam systems as climate control systems, increasing demand for chilled beam systems as a better alternative of conventional HVAC systems as they provide better humidity and noise control, high energy saving potential of active and passive chilled beam systems pushing their adoption in commercial buildings in different climates, higher focus on introducing chilled beam technologies by OEMs to cope with the advancements in the HVAC industry, stringent policies and regulations promoting energy efficient buildings in various emerging economies, higher opportunities of growth for chilled beam systems owing to increased construction activities in various regions, increasing awareness of sustainable building energy consumption coupled with thermal comfort, growing demand for advanced and innovative technologies in certain regions (typically GCC countries) and increasing demand for superior and high quality energy efficient indoor products have pushed the growth of the global chilled beam system market. However, challenges such as limited floor to ceiling height space, lack of feasible property knowledge, investment risks, lack of skilled labour and relatively high installation costs are posing restraints to the growth of the global chilled beam system market.

Global Chilled Beam System Market: Segmentation Analysis
The global chilled beam system market is segmented by product type, by design, by end use and by region.
– By design, the standard segment is expected to be the largest in terms of value thus leading the global market. The customised segment is also expected to gain traction and is poised to grow at a faster pace to register a value CAGR of 6.6% during the period of assessment
– By end use, corporate offices have shown increased inclination to use chilled beam systems. This segment is estimated to be valued at around US$ 181 Mn by 2027 end
– By region, Western Europe region is the largest. The chilled beam system market in this region is poised to reach a market value of over US$ 180 Mn by the end of 2027. The Middle East and Africa (MEA) region also shows high potential in terms of growth rate owing to increased infrastructure activities in GCC countries and growing awareness towards the use of energy efficient systems
– By product, the concealed segment is expected to dominate the market with a high market valuation of approximately US$ 250 Mn by the end of the year of assessment (2027)

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Global Chilled Beam System Market: Competitive Landscape
The research report on the global chilled beam system market covers the competitive landscape wherein profiles of key players participating in the global chilled beam system market are included. Major companies such as Swegon AB, Barcol Air Group AG, MADEL Air Technical Diffusion S.E., Dadanco Europe, TROX GmbH, Mestek, Inc., LTG Aktiengesellschaft, Roccheggiani S.p.A, FTF Group, Johnson Controls International Plc., Lindab International AB, Caverion Corporation, Halton Group, Emco Group, Fla?ktGroup, Price Industries Inc., NuClimate Air Quality Systems, Inc., SAS International and Nijburg Industry Group are featured in this research report.

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Odour Control System Market 2022 Assessment and Key Insights Analyzed Till 2029

The newest market research study by Future Market Insights on odour control system includes the global industry analysis for 2014–2021 and market forecast for 2022 – 2029. The study observes the odour control system market and offers detailed perceptions for the forecast period of 2022-2029. According to the analysis and study done in the report, the global odour control system market is anticipated to observe prominent progress, due to increasing adoption in the chemical industry.

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The odour control system market is estimated to be valued at ~ US$ 1 Bn in 2022, and is projected to increase by ~ 5% CAGR during the forecast period of 2022 – 2029.

The odour control system market has a high potential to grow in regions such as Asia Pacific Excluding Japan (APEJ) and North America. Significant innovations with incorporation of advanced technologies meeting regulations are expected to emerge as a product differentiator in the odour control system market.

Installation of hybrid odor control systems and demand for advanced and cost-effective odour control system from various industrial and government entities have increased significantly. This growing demand for progressive products generates pressure on manufacturers to deliver technologically-advanced and unique product offerings.

Thus, technological advancements have led to noteworthy investment in research and development by manufacturers. Manufacturers in the odour control system market are constantly focusing on developing unique technologies, which help them differentiate their products and earn a competitive edge.

Odour control systems play a crucial role in wastewater and solid waste treatment facilities. Individual odour control systems can be installed at various locations in a single wastewater treatment facilities, or a centralize system could be installed for low capacity plants.

Increasing investment for the effective and efficient waste management, establishment of new plants and capacity increase of existing facilities, and also  growing intolerance towards odours, are factors expected to increase the demand for odour control systems in near future.

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Japan to Provide Noteworthy Growth Opportunities for Manufacturers

The ongoing technological advancements and progression in investment for the storm water management projects and wastewater treatment facilities are expected to grow significantly over the forecast period. Odour control system manufacturers are focusing more on improving their market structures and offerings in the region.

Emphasis on trade balance and increasing production by strengthening the manufacturing sector is currently the prime motive of the government in Japan. Also, the adoption of ‘best available technique’ is prominent in the country, which is likely to propel the demand for advanced odour control system.

Japan has large installed base of odour control systems which are likely to get regular up gradation and replacements. Considering the average life of the odour control systems and the install base, the market in Japan is estimated to surge in next few years.

For the global odour control system manufacturers, Japan is projected to be a prominent market throughout the forecast period, owing to the increasing consumption and production of odour control systems across several industries.

Chemical & Petrochemical Industry to Capture Prominent Share

The division of the global odour control system market has been done on the basis of application, along with six regions.

  • High application potential of odour control system is identified in chemical & petrochemical industry. These industries produce odorous compounds such as hydrogen sulfide, ammonia,mercaptansand several others.The air contains odorant molecules, which must be treated to avoid corrosion and to comply with environment regulations, hence mandating the use of odour control systems in chemical & petrochemical industries.
  • Waste treatment and disposal plants are a major source of odour emission. The effluents and vapors coming from these sources are of different and unpredictable composition. Hence, it becomes a necessity to install a combination of odour controls systems at these locations, thereby potentially influencing the market growth.

Odour Control System Market: Vendor Insights

The global odour control system report emphasizes on some of the principal industry players. Some of the key players include Babcock & Wilcox Enterprises, Inc., CECO Environmental., Anguil Environmental Systems, Inc., Evoqua Water Technologies LLC, Scotmas Limited, Ecolab Inc., Tholander Ablufttechnik GmbH,among others.

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Industrial Valves Market Report Perspective with Study of Leading Players 2029

Up from the revenues worth US$61 Bn registered in 2018, the global market for industrial valves is projected to witness modest growth by the end of 2019. A new market research report by Future Market Insights (FMI) suggests that the increasing exploration activities for new water sources will predominantly favour the growth of market over coming years.

The steady expansion of chemical industry and revival of oil & gas industry are also likely to play a crucial role in pushing sales of industrial valves at a global level. FMI’s report shows that abundant opportunities exist in chemical, and water & wastewater industries.

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With the onset of Industry 4.0 and the reciprocating shift of industries towards automation, the industrial valves landscape is compelled to move beyond its traditional, old-school valve engineering models. Although manually operated valves still account for almost 2/3rd of total sales, FMI foresees a rapidly progressing market scenario for automated valves in the next few years. 

By type, the gate type of industrial valves segment is expected to hold prominent value shares of the global industrial valves market. The globe valve segment is expected to be the prominent segment throughout the forecast period. Gate valves, closely trailed by globe and ball valves, are identified to remain the sought-after industrial valve types throughout the forecast period. Several manufacturers are, however, focusing on investments in globe industrial valves. FMI’s research also highlights visibly growing market attractiveness of butterfly valves across industries.

The analysis of industrial valves market based on materials reveals cast steel, carbon steel, and stainless steel remain the preferred materials among manufacturers of industrial valves, which collectively account for ~85% shares in the revenues. Bronze is likely to emerge lucrative as a material of choice, over the years to come, as shown by report findings.

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Market in APEJ Projected for Remunerative Growth

The market in Asia Pacific excluding Japan (APEJ) is expected to exhibit lucrative growth potential in the global industrial valves market over the forecast period of 2019-2029. According to the report, this growth is propelled by the rapid growth in the oil & gas industry in countries of APEJ such as India and China, and ASEAN Countries, among others. The economic condition of these countries have been positively developing.

Owing to the effects of macroeconomic factors such as growing population, urbanisation, and rapid industrialisation, the confidence of investors and investments in housing and other residential projects across APEJ has increased drastically. The region’s chemical has considerable momentum over the past few years. This overall scenario is translating into modest growth in the demand for valves across the multiple industries, eventually pushing the market growth potential of APEJ.

Industrial Valves Market: Vendor Insights

The report highlights some of the prominent market players, who have established themselves as leaders in the global industrial valves market such as GE Company, Emerson, Flowserve Corporation, Schlumberger Limited, TechnipFMC Plc, KSB SE & Co. KGaA, x KITZ Corporation, Alfa Laval Corporate AB, Curtiss-Wright Corp., CIRCOR International, Inc., IMI Plc, Mercer Valve Co., Inc., National, Oilwell Varco, Inc., Weir Group Plc., Neway Valves, AVK International A/S, Flowserve Corporation, and LESER GmbH & Co. KG, among others.

The global industrial valves market is significantly consolidated, with some players holding prominent shares of the market. These players are offering industrial valves under their popular brands such as Cameron, and World Valves, among others.

Industrial Valves Market – Key Research Findings

  1. The global industrial valves market size in 2018 was ~US$61 Bn. 
  2. The industrial valves market is expected to grow at a CAGR of ~4% during the forecast period of 2019-2029.
  3. Besides adoption of automatic functions of valves, the increasing demand for manual structures has been recently driving the sales of industrial valves.
  4. Collectively, Asia Pacific Excel. Japan and North America are likely to account for ~70% of the revenue shares in the industrial valves industry by the end of 2029.
    • North America, attributed to the powerful presence of the oil & gas industry, will continue to be a prominent regional market for industrial valves manufacturers.
  5. The oil & gas industry is estimated to remain the prominent end-use industry for industrial valves market players.
    • The oil & gas industry has witnessed significant growth in the recent past, and the revival of the oil & gas sector has been noteworthy.
    • Noteworthy application potential of industrial valves has been identified in the water & wastewater treatment.

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North America Variable Frequency Drive Market Current Scenario and Industry Growth Forecast with Major Key Players data by 2032

 North America Variable Frequency Drive Market stands at 4.77 Bn as of now and is expected to be worth US$ 5.06 Bn by the year 2032 at a CAGR of 6% from 2022 to 2032.

North America is known for being more into machines and less into human labor. Variable frequency drives help in smooth sailing with respect to dependence on these machines. They, in fact, help verticals in manufacturing more products with minimal wastage. It has been reported that these drives reduce downtime by increasing machine productivity, machines’ efficiency, and quality of production.

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A variable frequency drive (better known as VFD), could be described as a kind of motor controller driving an electric motor by varying voltage and frequency supplied to electric motor. The other terms to refer to VFD include adjustable speed drive, variable speed drive, AC drive, adjustable frequency drive, inverter, and Microdrive. The three different kinds of VFDs are fluid drives, electric drives, and mechanical drives.

Rising prices of energy have resulted in an inevitability of energy-efficient motor control systems. They prove to be a good alternative to various throttling devices like valves and dampers and fixed speed controllers. Along these lines, Len Busch Roses has Danfoss’ variable frequency drive for regulating airflow in snapdragon greenhouse, that too, with precision. As such, Len Busch has witnessed reduction in energy costs by 22%.

Smart grid technology is being increasingly adopted, which could open doors for varying voltage and phase angle required. This ascertains that electricity gets transferred more efficiently.

Single VFD is getting used to control multiple electric motors, so as to dissipate less energy. Synchronous bypass method makes use of a VFD for starting and synchronizing multiple motors through transfer of load from a source to the other. Rockwell Automation states that asynchronous variable frequency drive system used to control two motors is capable of saving up to 33% of the initial capital spending.

At the same time, the fact that VFDs release pulses that are asynchronously switched can’t be ignored. If there happens to be a long cable between the motor and VFDs, the reflected pulses could result in production of voltage overshooting line voltage, thereby causing tension in cable and motor windings. Insulation thus fails, specifically for the motors that operate at 490 volts (or even higher). Future Market Insights has, through its latest market study entitled ‘North America variable Frequency Drive Market’, etched these findings with future perspectives.

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Key Takeaways from North America Variable Frequency Drive Market

  • The AC drive dominates North America Variable Frequency Drive market. It, in fact, accounts for more than 70% of the overall market. This could be credited to wider application on their part in heavy and medium industries like power generation, oil and gas, food and beverages, paper and pulp, infrastructure, and automotives.
  • Low voltage accounts for more than 80% of the overall market share due to growing demand for low power variable frequency drives in fans, pumps, machine tools, crane, fluid machines, printing machines, metal processing machines, and food processing machines.

“Call for better productivity with reduced downtime to drive North America Variable Frequency Drives market”, says an analyst from Future Market Insights.

Competitive Landscape

  • Yaskawa Electric Corporation, in June 2021, announced tabling HV600 family of the drives that incorporates advancements in HVAC applications’ variable speed control.
  • Eaton Corporation, in June 2021, came up with PowerXL DM1 micro variable frequency drive designed for OEMs at industrial and commercial level.
  • Fuji Electric, in September 2022, announced working on virtual power plant in the direction of spreading renewable energy.
  • Emerson, in June 2022, acquired Fluxa, thereby strengthening its foothold in the life sciences vertical.

What does the Report Cover?

  • Future Market Insights offers an exclusive perspective and various real-time insights on North America Variable Frequency Drive market in its latest study, presenting historical demand assessment of 2016 – 2021 and projections for 2022 – 2032.
  • The research study is based on voltage range (low voltage range and medium voltage range), by end-use vertical (oil & gas, food processing, and automotive), and by application (standard and regenerative).

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Key Segments Profiled

By Voltage Range Type:

  • Low Voltage Range
  • Medium Voltage Range

By End-use Industry:

  • Oil & Gas
  • Food Processing
  • Automotive

By Application:

  • Standard
  • Regenerative

Table of Content

1. Executive Summary

1.1. North AmericaMarket Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

1.5. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Market Background

3.1. Market Dynamics

3.1.1. Drivers

3.1.2. Restraints

3.1.3. Opportunity

3.1.4. Trends

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Tipper Body Equipment Market Current Trends And Future Growth Estimations Outlook To 2032

APEJ accounted for more than 20% of the global tipper body equipment market in 2016 and is expected to account for close to 30% by the end of 2026. In comparison to 2016, the region is expected to gain more than 150 BPS by the end of 2026. The APEJ region is expected to lead the global tipper body equipment market in terms of CAGR during the assessment period, expanding at a healthy CAGR of 4.8 percent.

By the end of 2026, the region’s market value is expected to exceed US$ 1,000 million. Between 2016 and 2026, China is expected to account for more than one-fourth of the value share in the APEJ tipper body equipment market.

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In addition, cost-intensive capital and high maintenance will also remain the long-term restraints for market growth. However, high initial costs of purchasing tipper body equipment are subsequently boosting the establishment of tipper rental businesses and compelling those that are already established to become more organised to cater to a growing trend of the rental tipper body equipment.

Global Tipper Body Equipment Market: Regional Insights

  • A regional analysis of the global tipper body equipment market by Future Market Insights indicates that Asia Pacific (excluding Japan), North America, Latin America, and Europe will be the key markets throughout the next decade.
  • APEJ, driven by China and India, is projected to dominate with more than 28% value share at the end of the assessed period with a gain of 180 BPS.
  • North America will remain the second-largest regional market that is expected to bag over 23% share in 2026.

Global Tipper Body Equipment Market: Key Vendor Insights

  • Among some of the key companies operating in the global tipper body equipment market landscape, Schmitz Cargobull AG and Hyva Global B.V. are likely to continue representing leading revenue shares over the forecast period.
  • Other notable players include Crysteel Manufacturing Inc., Thompsons (UK) Ltd., BION INDUSTRIAL LLC, and F.X. MILLER.
  • While the majority of key players are strategising new product launches, collaborations, and joint ventures, others are focusing more on production capacity expansion and acquisitions.

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Global Tipper Body Equipment Market: Overall Dynamics

With increasing urbanisation and thriving construction and mining sectors, demand for tipper body equipment is expected to remain stable in the coming years. Consistent demand from the waste management industry will also drive the market for tipper body equipment. Furthermore, technological innovation in tipper body products, such as redesigning the driver’s cabin in tipping equipment and vehicles to provide the most convenient operating experience possible, is expected to boost sales in the near future.

Manufacturers’ increasing use of advanced telematics systems is expected to remain a key market driver over the next decade. During the assessment, another key factor identified as potentially driving market growth is the rapid adoption of automation.

Another remarkable trend driving the market includes the development of cost-competitive products to maximise penetration in emerging economies, such as China, India, and South Africa. Development of effective tipper body equipment with enhanced load-carrying capacity and provision of the efficient buyer and drivers’ training by manufacturing entities are likely to present lucrative growth opportunities. While product development with advanced diagnosis systems can be a key to sustaining relatively mature markets, such as North America and Western Europe; massive potential lies in developing countries, including BRIC nations.

Global Tipper Body Equipment Market Segmentation

To understand and assess opportunities in the global tipper body equipment market, we have divided the report into six sections based on market segmentation as under:

By Tipping Type

  • Roll-off Tipper Body
  • 3-Way Tipper Body
  • Rear Tipper Body

By Load Carrying Capacity

  • Below 15 tons
  • 15–30 tons
  • 30 tons & above

By Mechanism

  • Hydraulic
  • Pneumatic

By Frame Material

  • Steel
  • Aluminium

By End Use

  • Mining
  • Construction
  • Waste Management
  • Marine Services
  • Others

By Region

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

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Bulk Terminals Market 2022-2032 Research Covers,by Future Market Insights, Inc.

The prevailing passive economic growth in China coupled with recent economic slowdowns in North America and Europe has heavily impacted overall bulk commodity exchanges at a global level. This scenario is on the verge of a steady recovery and 2015 has already seen the global seaborne trade volume surpassing 10 billion tonnes. In its recently published report “Bulk Terminals Market: Global Industry Analysis and Opportunity Assessment, 2016-2026“, Future Market Insights projects the global bulk terminals market to register a 3.2% CAGR through 2026 and exceed 20 billion tonnes in volume by 2026.

Operators in the U.S., Europe, and Japan are increasingly turning to natural gas as an efficient alternative to conventional fuel. Furthermore, Qatar, Norway, and Australia have significantly amplified their natural gas exports. Preferred usage of LNG is likely to have a favorable impact on the demand for liquid bulk terminals, serving vitally for oil and natural gas storage and trade activities. Several terminals in the Americas, APAC, and Europe are expected to start full-scale operations in the next few years. This, in addition to the rising trade of grain and minor bulks, will shape up the global market for bulk terminals in the next decade.

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Automation and preference for floating terminals over on-shore terminals are the key trends influencing the global bulk terminals market. As the development, operation, and management of terminals involve huge initial capital, a majority of developing regions are progressively adopting the PPP (public-private partnership) module, wherein respective governments handle the land and assets, while terminal operations and responsibilities are tackled by private entities. This trend will sway the global bulk terminals market in a number of developing as well as developed regions.

Dry Bulk Will Continue to Outsell Liquid Bulk

By bulk type, dry bulk will continue to witness higher adoption than liquid bulk. Iron ore and coal currently account for the highest demand in the dry bulk segment. Although this segment will remain dominant through 2026, its market volume share is expected to see a decline from 62.7% to 62.3% by 2026 end. Major coal consuming countries are increasingly adopting the cleaner energy approach, limiting the rate of coal consumption. Declining import of coal will likely stymie the dry bulk segment growth over the projected period. The liquid bulk segment is expected to witness consistent growth, accounting for almost 38% market value share by 2026.

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Future Market Insights’ geographical analysis of the global bulk terminals market reaffirms the dominance of APEJ with the maximum bulk volume share during the assessed period. China will stay at the forefront of adoption in APEJ, accounting for a significant revenue share of the market. The APEJ bulk terminals market is projected to exhibit 4% CAGR through 2026. In North America and Latin America, the grain and minor bulk type segments are likely to gain traction during the forecast period. Panama Canal’s expansion is likely to elevate the market in Latin America, whereas developments in the Suez Canal can trigger multiple growth opportunities for port operators based in and around Europe and MEA.

Key players are competing for a maritime hub position, leading to frenzied M&A activity. Investments in high-capacity equipment remain a pervasive business strategy to gain competitive edge in stevedoring operation. China-based players account for a significant revenue share of the overall market, with China Merchants Port Holdings Co. Ltd. and DaLian Port (PDA) Company Limited posting US$ 1.41 Bn and US$ 1.06 Bn in revenues in 2015. Other notable players in the market include Thessaloniki Port Authority SA., Global Ports Investments PLC., Ports America, Inc. APM Terminals, Euroports Holdings S.à.r.l., Puerto Ventanas S.A., HES International B.V., Yilport Holding Inc, DP World Ltd., Noatum Ports, S.L.U., and Ultramar Group.

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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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Barcode Printers Market Research, Segmentation, Key Players Analysis and Forecast to 2032

Over the forecast period of 2016 to 2026, the global Barcode Printers market is expected to grow at a CAGR of 7.4% in terms of sales, owing to factors affecting its end-use. Barcode printers are special printers that are used to produce barcodes and product labels. Barcode printers are distinct from typical printers in that they employ different consumables to create a barcode print image. These printers are built in such a way that they can produce clear, machine-readable barcode prints at quicker printing speeds and for a lower cost.

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A Barcode printer is defined as an electronic device designed specifically for the printing of barcodes. The working principle and build of a barcode printer are slightly different from computer printers as it uses ribbons and labels working in tandem to get a barcode printed. Barcode printers usually don’t have programmable logic controllers, but rely on an external computer system.

Growth in the manufacturing sector is reviving after the 2008 economic crisis. Automation and streamlining of manufacturing processes are being adopted by a large number of manufacturing companies worldwide to reduce time and material wastage, thereby improving efficiency and output. Barcoding is one such technique that is increasingly being adopted. This process has reduced production time considerably in the manufacturing process, thereby driving demand for barcode printers.

Barcodes have become the de facto standard for product information storing and labeling. Retailers worldwide use barcodes for the hassle-free recording of supplies and commodities and their sales to customers. Barcodes imprinted on labels are stuck to the products and they record information about the product count, date of manufacture, date supplied to the retailer, selling price, etc.

When these products are scanned, the information is retrieved and monitored. This entire process, which is achieved within a matter of seconds, not only increases efficiency but also minimizes errors. This has helped retailers record their products and inventory on shop floors and warehouses.

However, the threat of RFID tags as substitutes to barcode labels and the low compatibility of barcode printers with different operating systems act as restraints in the global barcode printer market.

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Segmentation highlights

The market is categorically divided into six segments based on printer type, printing technology, consumables, application, distribution channel, and region. The printer type segment of the barcode printers market includes Desktop Barcode Printer, Industrial Barcode Printer, Mobile Barcode printers and Others.

On the basis of printing technology, the market has been divided into Thermal Transfer, Direct Thermal, Dot Matrix, Laser and Ink Jet. On the basis of distribution channels, the market is segmented as Direct-to-End User, Direct-to-OEM, Dealer/Distributor, and Systems Integrator. On the basis of application, the market has been divided into industrial/manufacturing, transportation/logistics, retail, healthcare, government, and commercial services.

  • The Industrial Barcode Printer segment holds the highest market share of 46.1% closely followed by the Desktop Barcode Printer in the Barcode Printers Market. The Industrial Barcode Printer segment is also expected to dominate in the forecast period with a CAGR of 8.3% due to a preference of sturdy and rugged barcode printers with higher productivity.
  • Thermal Transfer segment holds the highest market share amongst all with 62.8% and is expected to improve further in the forecast period owing to very less cost involved, while Dot Matrix, Laser, and Ink Jet printing technologies are least preferred technologies and are on the verge of being phased out.
  • Dealer/Distributor is the most preferred supply channel and is expected to dominate in the future due to higher distribution efficiency, low supply costs and faster delivery times.

Regional projections

North America and Western Europe are the most promising regions for the market’s growth owing to higher preference of barcoding technology in different applications, while the market in the Latin America region is on a slow and stagnant growth due to low adoption of barcoding technology. The growth of the Barcode Printers market in APEJ region may also grow at a slower pace due to saturation and slow down of the manufacturing sector in China.

The Industrial Barcode Printer Segment Holds the Highest Market Share in the Global Barcode Printers Market

Desktop Barcode Printer, Industrial Barcode Printer, Mobile Barcode Printer, and Others are the several types of barcode printers available. In the Barcode Printers Market, the Industrial Barcode Printer category has the biggest market share of 46.1 percent, followed by Desktop Barcode Printer.

Due to a desire for strong and tough barcode printers with higher productivity, the Industrial Barcode Printer segment is predicted to dominate in the forecast period with a CAGR of 8.3%.

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Power Tools Market Current Scenario and Industry Growth Forecast with Major Key Players data by 2032

The size of the global power tool market is projected to be US$ 33.36 billion in 2021. As more cordless power tool sales are made, the demand for power tools will increase by 5.1 percent CAGR between 2021 and 2031.

The demand for electric power tools and portable power tools will increase exponentially over the next few years, according to the most recent Future Market Insights (FMI) analysis. Demand for handheld and pneumatic power tools will also increase due to their growing use in the automotive, construction, aerospace, and other industries.

Additionally, the report projects that sales of power tools will account for roughly 7% to 8% of the global tooling market.

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The global power tools market is expanding at a significant rate on the back of consumer inclination towards cordless power tools. This is anticipated to remain the key defining factor in the power tool market. As per Future Market Insights (FMI) analysis the global power tools market is expected to be reach US$ 33.36 Bn in 2021.  The demand is expected to soar as construction activities surge around the world. According to FMI, construction applications will account for maximum sales in the market through the forecast period. Besides this, the rising trend of do-it-yourself activities will fuel sales opportunities for the market.

The COVID-19 pandemic has severely affected the global economy. Resulting in manufacturing plants shutdowns, coupled with supply chain disruptions owing to nationwide lockdowns across the globe, subsequently resulting in the plunge in the power tools market growth. However, the market is expected to recover sharply as the economic activities resume post the containment of pandemic. Manufacturers are focusing on scaling up their production capabilities with improved production rate creating positive prospected for the power tools market growth.

Key Takeaways of Global Power tool Market Study

  1. Power tools market will exhibit growth of 0.2% in 2021 over 2020 to reach 4,3%
  2. Overall outlook remains positive as FMI forecasts the market to rise at ~5.1% between 2021 and 2031.
  3. U.S. is expected to spearhead growth in North America, accounting for over 62% of overall share in the region in 2021
  4. U.K. is expected to exhibit 4.6% year-on-year growth between 2021 and 2031
  5. Outlook for Italy and France is expected to remain positive over the forecast period

“The power tools market is witnessing a strong growth trend, attributing to increasing demand from various end use industries. Key industry participants are focusing on developing partnerships with regional distributors in order to gain a competitive advantage in the evolving global market. To comply with the advent of online sales channel, adoption of e-commerce will create extensive opportunities for market participants during the forecast period.” says FMI analyst.

Global Power tool Market Competitive Landscape

The global power tools market is highly competitive market owing to presence large number of global and regional players operating in the market. Manufacturers are focusing on research and development for innovative improvements in their product portfolio, expansion in untapped markets coupled with developing their business via e-commerce platforms to gain competitive edge. Some of the leading manufacturers of power tool market are Robert Bosch GmbH, Stanley Black & Decker Inc., Makita Corporation, Techtronic Industries Company Limited, Koki Holding, Co., Ingersoll Rand Inc., Apex Tools, Hilti Corporation, Snap-on Incorporated, among others.

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Valuable Insights into Global Power Tools Market

Future Market Insights, in its new offering, provides an unbiased analysis of the global power tools market, presenting historical demand data (2015-2019) and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the power tools market based on backing product type (drilling tools, fastening tool, heat gun, angle grinder, chain saw, orbital sander, jigsaw, impact wrench, circular saw), technology (electric and pneumatic), application  (manufacturing, MRO services, DRO, construction), and sales channel (offline and online) across six regions (North America, Latin America, Europe, East Asia, South Asia, and the Middle East and Africa).

Key Segments

Product Type

  • Drilling Tool
  • Fastening Tool
  • Heat Gun
  • Angle Grinder
  • Chain Saw
  • Orbital Sander
  • Jigsaw
  • Impact Wrench
  • Circular Saw

Technology

  • Electric
    • Corded
    • Cordless
  • Pneumatic

Application

  • Manufacturing
    • Metal Fabrication
    • Automotive
    • Railways
    • Aerospace
    • Furniture
    • Others
  • MRO Services
    • Facility Management
    • Automotive
    • Aerospace
    • Other Industrial
  • DIY
  • Construction

Sales Channel

  • Online
  • Offline

Region

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

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Adoption of Benelux Power Tools Market High State Of Affairs, SWOT Analysis, Business Summary and Forecast 2032 

The adoption of Benelux power tools market is expected to spur over the estimation period by garnering a CAGR of 4.5% between 2022 and 2032. The total market size reached US$ 1,051.6 Mn in 2021 and is likely to touch a valuation of US$ 1,091.4 Mn in 2022. The overall market is expected to surpass a valuation of US$ 1,694.9 Mn by 2032. In addition to that, the rising adoption of power tools all over the industrial and residential sectors is expected to surge the market growth exponentially. The adoption of the Benelux power tools market forms around 3-6% of its parent market which is the global power tools market.

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Based on historical analysis from 2017 to 2021, the Benelux power tools were widely adopted and witnessed a moderate growth rate of 4.1% CAGR. The global Benelux power tools market was estimated to foresee a Y-O-Y growth of 5.3% in 2022. The adoption of the Benelux power tools market is projected to grow by 1.3X by 2032 as compared to 2022.

The rapid adoption of Benelux power tools is rapidly surging in the well-urbanized market such as Benelux which is anticipated to create impressive opportunities in the household power tools segment over the forecast period. The household power tools segment is expected to hold a significant market share and is anticipated to grow at a CAGR of 3.5% across the forecast period.

Key Takeaways

  • Power tools consist of a large array of applications in automotive manufacturing and assembly. In the Benelux region, the adoption of automobile production has significantly increased over recent years. Owing to the increasing urbanization and enhanced economic conditions in the region have led to this growth.
  • In order to capitalize on the dynamic customer preferences for Do-It-Yourself (DIY) ethics, manufacturers are primarily focused on offering home users compact, portable and economical tool solutions owing to its growth in the market.
  • As electric tools are expected to be the most optimum handheld devices, their sales are expected to rise significantly over the years. The adoption of Benelux power tools has proven to be very effective when the operations are expected to be carried out on a manual basis with manpower adjustments to meet the desired aesthetics of the end product. In addition to that, significant growth in the industrial sector is responsible for the increased adoption of Benelux power tools.
  • The Benelux power tools are able to work 24*7 without any interruptions. These tools are designed to provide services all day throughout the year with minimalistic chances of shutdown for maintenance. As power tools can offer greater speed of production than hand tools, they excel in manufacturing ability and are able to efficiently meet manufacturing requirements.
  • The end users who are searching to gain a prominent enhancement on the basis of the rate of production could provide a substantial customer base for the power tools market during the projected course of time. The ability of these power tools to complete a long and meticulous cycle of operations is impressive which makes it a viable option over hand tools.

Competitive Landscape

The prominent manufacturers in the Benelux power tool market are experiencing phenomenal growth owing to the increased demand for cordless power tools. Leading manufacturers are focusing on the advancement of power tools that require minimal maintenance and can offer versatile operations at lower prices. In addition to that, market participants are inclined toward providing tailored products to customers as per their needs with better reliability and durability in order to gain a competitive advantage in the adoption of the Benelux power tools market.

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More Insights into the Adoption of Benelux Power Tools Market

For power tools, Luxembourg is emerging as a key market across Benelux over the assessment period, owing to the surging expansion of industries such as steel manufacturing and automotive. As per FMI predictions, power tools demand in Luxembourg to grow at a CAGR of 6.0% during the forecast period (2022-2032).

The Netherlands is yet another country accounting for more than 55% of the adoption of the Benelux power tools market in 2022 and is expected to hold its dominance across the forecast period as well.

According to estimations, the industrial sector has a massive contribution of around 17% in 2020 to the GDP of the Netherlands which showcased an exponential increase in demand for power tools in the Netherlands industrial sector.

Key Segments Covered in Adoption of Benelux Power Tools Market Analysis

By Mode of Operation:

  • Electric
  • Pneumatic
  • Others

By End Use:

  • Industrial
  • Household

By Country:

  • Belgium
  • Netherlands
  • Luxembourg

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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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Variable Frequency Drive (VFD) Market Current Scenario and Industry Growth Forecast with Major Key Players data by 2027

In recent years, the variable frequency drives (VFD) market has seen significant growth, owing to increased opportunities for infrastructure development in emerging regions, which has boosted demand for heating and ventilation systems. VFD development is currently shifting toward offering industry-specific solutions with the goal of lowering costs and reducing operational downtime, prompting a slew of manufacturer innovations.

Variable frequency drives, particularly in critical environments and the industrial internet of things, are becoming more common in Industry 4.0. (IIot). As factories embrace automation, variable speed drives with embedded logic as onboard programmable logic controllers are becoming more common.

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One of the IIoT advantages of using VFDs is improved remote access. Technicians can remotely monitor project and equipment conditions, and workers receive alerts faster, allowing them to correct anomalies on time. It is also possible to perform predictive maintenance and real-time monitoring.

The global automotive industry has made prolific advances in the recent past. Emerging as a multibillion-dollar industry, the autonomous market is characterized by the emergence of a plethora of start-up investments. Consequently, the adoption of high-end HVAC systems and pumps has registered an impressive uptick. According to FMI’s projections, the aforementioned segments collectively accounted for nearly US$ 10 Bn as of 2019.

Prolific growth opportunities exist in the Chinese market, owing to an ever mushrooming automotive industry. Future Market Insights estimates the economic giant to produce 4.5 million variable frequency drives by 2021-end, as production cycles revert to normalcy in the aftermath of the coronavirus crisis. Hence, manufacturers are introducing a slew of technological innovations to tap this ever-expanding opportunity, thus generating powerful revenue ecosystems across the forecast period.

As a result of these advancements, leading manufacturers are increasing R&D to produce smart VFDs. For example, Applied Machine & Motion Control (AMMC) sells the Yaskawa Microdrive collections J1000 and V1000. Such developments are expected.

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Key Takeaways of Variable Frequency Drives Market Study:

AC drives adoption surging in popularity by drive type; set to acquire 260 BPS by 2031-end U.S. and Germany to emerge as highly lucrative markets, owing to growing EV sales Growing concerns over excessive power consumption compelling automotive manufacturers to invest in low-voltage VFDs Regenerative applications to find growing applications, reaching nearly US$ 15 Bn by 2021-end Pumps and HVAC systems to collectively expand at a value CAGR worth 13% from 2021-2031

 “Rapidly expanding infrastructure for capital projects are attracting frequent capital investments, attributed to the increasing scale of urbanization. Hence, automotive sales are rising, leading to widening revenue pools for VFD manufacturers,” says the FMI analyst.

Competitive Landscape

The variable frequency drives market is a highly competitive market, with a sizeable presence of both global as well as domestic players. However, key players account for nearly half of the market share. It is characterized by large supplier base and strong B2B networks.

The market has robust partnerships throughout the value chain. Suppliers of variable frequency drives adopt acquisition and regional expansion strategies to establish a foothold. Brand consciousness and aggressive marketing make it challenging for new entrants in the variable frequency drives market.

Variable frequency drives Market : Segmentation

Drive Type

  • AC Drive
  • DC Drive

Voltage Range

  • Low Voltage
  • High Voltage

Application Type

  • Standard
  • Regenerative

End-use Application

  • Pumps
  • Fan
  • Compressor
  • Conveyor
  • HVAC
  • Others

End-use Industry

  • Oil & Gas
  • Food processing
  • Automotive
  • Mining & Metals
  • Pulp & Paper
  • Others

Region

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

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About Us

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

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