Gas Insulated Substation Market Set for a Massive Hit in and Post 2022 – FMI

According to the latest Future Market Insights (FMI) analysis, sales in the gas-insulated substation market are expected to top US$ 12.5 Bn by 2021. The growth outlook remains positive as the market is assessed to register a 5.7% CAGR between 2021 and 2031.

Leading companies in the market for gas-insulated substations, according to FMI, including

  • General Electric, Hitachi Ltd., ABB, Infosys,  SIEMENS AG, and  Mitsubishi Electric Corporation.

Nearly half of the demand recorded throughout the forecast period is anticipated to be accounted for by the top ten market players.

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Impact of Industrialization on Gas Insulated Substation Market

The market for gas-insulated substations has benefited from the rapid industrialization currently taking place around the world. The demand for electricity has grown as various manufacturing companies continue to develop around the world. Due to the rising demand for electricity from the Industrial sector, numerous businesses and government agencies from various regions have increased their spending on the power generation sector. Due to this, there is now a greater need for gas-insulated substations all over the world.

Competitive Landscape

In order to increase their production capacity, businesses in the gas-insulated substation market seek out strategic alliances and partnerships with other producers. To bring novel solutions to the market, they also consistently invest in R&D projects.

To maintain its global presence, they are also concentrating on the global expansion of manufacturing facilities. East Asia and South Asia Pacific are the regions that manufacturers are focusing on because these are emerging markets.

Gas Insulated Substation Market by Category

By Basis of Installation:
  • Indoor
  • Outdoor
By Voltage Rating:
  • Medium voltage (Up to 72.5 kV)
  • High Voltage (72.5 kV – 220 kV)
  • Ultra High Voltage (220 kV – 765 kV)
By End-user:
  • Power Transmission and Distribution
  • Manufacturing and Processing
By Region:
  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • The Middle East and Africa (MEA)

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Opportunity for Gas Insulated Substation Market in China

According to Future Market Insights, East Asia will continue to be one of the most alluring markets during the forecast period. By 2031, China is anticipated to surpass US$ 2.9 billion and become East Asia’s largest market.

China’s industrialization has increased the demand for electricity. The main driver of the demand for gas-insulated substations in China is this, along with the rising investment in the power generation and utility sector. As a result of its quick industrialization, China is using more electricity. As a result, the nation will become a key market in East Asia for gas-insulated substations.

Demand for Gas Insulated Substations Increasing in India

Over the forecast period, demand is anticipated to increase at a CAGR of nearly 6.4% in the Indian market. India’s industrial sector is one of South Asia’s fastest growing. Additionally, it has increased the need for energy. This, along with the nation’s expanding population, has caused the consumption of electricity to exceed the supply. As a result, over the next few years, India’s demand for gas-insulated substations is likely to increase.

India has been named as a primary market in the report, and it is anticipated that country will continue to have a high demand for gas-insulated substations over the forecast period. Sales of gas-insulated substations are likely to increase as government power generation and distribution pick up in response to India’s industrialization and urbanisation.

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EUV Lithography Market 2016–2032 Global Analysis, Size, Share, Incredible Growth, Detailed Industry Analysis and Business Prospects

By the end of 2021, the market for EUV lithography was estimated to be worth $4,648.6 million USD. According to projections, the market will grow at a rate of 21.5 percent between 2022 and 2029, reaching a value of US$ 22,978.6 Mn by that year. Extreme ultraviolet, or EUV, is a term used to describe the wavelength of light. One of the major factors accelerating the market adoption of this technology is the development of more advanced lithographic systems.

Because of the region’s growing internet usage and technological advancements, FMI believes that Asia Pacific will continue to be a significant market for EUV lithography systems. Over the course of the forecast, the region is anticipated to experience an EUV Lithography market value CAGR of 23.6 percent.

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Key Takeaways

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

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

EUV Lithography Market – A Monopoly

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

Will EUV Dominate Lithography Systems?

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

Know More About Report Inclusions

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

The research report also offers global consumer electronics demand trends, the impact of wide-scale 5G technology and IoT adoption, wafer production trends, the installed base of EUV lithography systems as well as market demand patterns across the mentioned regions.

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Global EUV Lithography Market by Category

By End Use :

  • Integrated Device Manufacturer (IDM)
  • Foundry
  • Memory

By Region :

  • Americas
  • EMEA
  • Asia Pacific

About Future Market Insights (FMI)

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

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Agriculture Nets Market Expected to Reach CAGR of 5% by the End of 2030 | FMI

The worldwide agriculture net market will exceed US$1.0 Bn in 2020 and is expected to grow at a CAGR of 5% between 2020 and 2030. There has been a remarkable movement toward increasing crop yield in order to reduce reliance on imports, which has increased demand for farm nets. These nets are widely used in both commercial and sustainable farming, acting as a support system to guarantee optimum crop growth.

Attacks by locusts, unpredictable weather patterns marked by strong hail and rain, heat, and UV light penetration have greatly increased demand for agricultural nets in recent years. These nets, which come in different grades, limit the passage of heat and UV rays, maintaining the greenhouse’s temperature at an ideal level for plant growth.

Due to urban inhabitants’ serious interest in gardening as a lucrative hobby, the global agriculture market is likewise booming. Agriculture nets or shade nets are in high demand due to a trend toward creating urban jungles and sustainable living with kitchen gardens.

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The most imminent reason for burgeoning sales of agriculture nets is that it ensures reduced UV penetration, thus keeping the yield away from overexposure and damage. Today, vendors are also investing in designing agriculture nets that enhance photosynthesis, thus helping the end users create a healthy ecosystem for the plants.

Key Takeaway from Agriculture Net Market Study

  • Plastic to emerge as the leading material used in the production of agriculture nets during the forecast period
  • Farming to remain principal activity that uses agriculture net, occupying a dominant share in the global market
  • Rise of construction activities to raise demand for agriculture net for effecting coverings to prevent exposing unfinished buildings to excessive moisture
  • South Asia to see stiff competition in the agriculture net market due to influx of local players and presence of established ones

Community-driven Initiatives for Vermicomposting Creates New Growth Avenue

Growing number of urban communities are showing an inclination towards vermicomposting, which is a delicate task has led to a steady rise in the demand for agriculture nets. These nets act as perfect dividers for making pits and can be used as canopies to create shade.

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The delicate balance of light and shade that needs to be maintained for correct moisture levels in building healthy vermi compost pits is projected to drive market growth. Growing number of kitchen gardens and increasing demand for better waste management have introduced vermi compost as an effective solution. Analysts project that as these trends continue, they will continue to raise the usage of agriculture nets in the coming years.

Impact of COVID-19 on Global Agriculture Nets Market

The COVID-19 pandemic has had a moderate impact on the global agriculture net market. While the demand for these nets plummeted in the construction industry, it was offset by the demand in the agriculture sector. The lockdowns and disrupted supply chains indicated that self-reliance with agriculture will be of paramount importance to avoid dependency on other nations for imports.

COVID-19, which led to severe lockdowns, also fuelled many to work on hobbies, creating a demand for shade nets for gardening. The sudden rise in number of enthusiasts building terrace gardens are expected to favour market growth in the coming years. Furthermore, as the pandemic situation normalizes, farmers will invest in agriculture nets to boost production.

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Key Segment

Type

  • Shading Nets
  • Anti-hail
  • Anti-insects
  • Windbreak
  • Others

Form

  • Woven
  • Non-woven Form

Application

  • Farming Area
  • Animal Husbandry
  • Horticulture and Floriculture
  • Aquaculture
  • Others

End Use

  • Industrial Agriculture
  • Sustainable Agriculture

Price Range

  • Economic
  • Mid-range
  • Premium

Material Type

  • Metal
  • Plastic
  • Rubber
  • Others

Sales Channel

  • Hypermarkets/Supermarkets
  • Specialty Stores
  • Departmental Stores
  • Independent Stores
  • Hardware Stores
  • Farm Equipment Stores
  • Other Sales Channel

Region

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

About FMI:

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

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Power Transformer Market Current and Future Trends, Leading Players, Industry Segments and Regional Forecast By 2032

The power transformer market exhibited year-on-year growth of 4% in 2021, backed by increasing efforts towards incorporating modern energy solutions in existing power systems and high demand of efficient and reliable power supply. Future Market Insights (FMI) states that power transformer market revenue grew by 10% between 2019 and 2021, reaching US$ 21.9 billion in 2021 with a healthy CAGR of 4.6%.

Power transformers are integral components within power grids as they assist in power transmission between networks without change in frequency and minimum loss. Increasing investments towards the expansion of power grid networks and distribution channels to enable electricity access in remote areas will fuel the demand for power transformers in the forthcoming years.

Focus on upgrading the existing power grid network with modern energy technology for a flexible, secure, efficient, and reliable supply of power will emerge as a chief growth driver.

Transformers are critical components in a power transmission system as their main function is to receive power with low voltage and transmit it across various distribution channels in the power grid. Increasing demand for electricity and increasing investment to expand transmission and distribution networks will drive the power transformer market growth in upcoming years.

For instance, as of 2021 Adani power has around 5 ongoing power projects with capacities ranging from 1300 MW to 2700 MW in the Indian states of Rajasthan, Madhya Pradesh, Gujarat, Karnataka, and Jharkhand. The rise in the number of new power projects in developing countries will boost market sales over the forecast period.

Rising urgency to replace the aging power infrastructure with smart grid system along with increasing penetration of renewable energy and the development of interconnected grid infrastructure are key growth drivers in developed economies.

Future prospects look promising for power transformer market due to thriving construction and mining industries, emergence of new smart cities with modern power transmission system and adoption of green transformers.

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Market players are focusing on developing power transmission systems capable of handling flow of stored and renewable energy throughout the grid system. Advancement towards designing system for efficient management of electricity transmission and distribution as a part of disaster recovery efforts along with redefining electrical grids to reduce operational costs and lead times will positively influence the market growth in the future.

Key Takeaways from FMI’s Power Transformer Market Study

  • North America power transformer market is forecast to experience growth at 3% CAGR due to rising necessity to replace old power grid networks with modern and efficient equipment and increasing supply and demand gap of electricity in U.S. and Canada.
  • Europe power transformer market is anticipated to grow at 3.2% CAGR during the forecast period. Growth uptick can be attributed to rapid electrification and increasing investment towards upgrading transmission and distribution networks in the region.
  • Growing awareness among population regarding CO2 emission, increase in consumption of electricity, and increasing efforts towards electrification of rural areas will drive the demand for power transformers in India.
  • China is expected to offer lucrative opportunities owing to increasing investment in power grid infrastructure development and booming mining and oil and gas industries in the country.
  • Japan and South Korea account for 7% of global power transformer market share in 2021. Industrialization, increasing efforts to fill the energy supply and demand gap, and imposition of energy efficient laws and standards are key growth drivers in these countries.

“Increasing demand for upgrading traditional transmission system to sustain high voltage power transfer and incorporation of smart grids will boost the demand for power transformer in upcoming years,” says the FMI analyst.

Who is Winning?

Future Market Insights highlights the key trends emerging in the power transformer market and discusses the strategies employed by market players to strengthen their market position.

Leading market players account for 35% global market share. They are focusing on new product development like green transformers to reduce the carbon footprint and are also emphasizing on establishing production and supply operations in key high-demand demographics like South East Asia. In addition, key players have been increasing production outputs and moving manufacturing plants to developing countries to reduce lead times and operation costs.

Prominent players operating in the power transformer market are:-

  • ABB
  • General Electric
  • Siemens AG
  • Toshiba Corporation
  • Schneider Electric

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For instance, in July 2021, General Electric won orders for manufacturing 45 units of 765 kV transformers from Power Grid Corporation of India Limited (PGCIL) for the new sub stations to be constructed in Rajasthan, India. The new transformers will dissipate around 8.1gigawatt (GW) of green power from the state’s solar energy zones.

In March 2021, First Philec Inc. announced to launch super green transformer by the end of 2021. First Philec Inc. is a unit of First Philippine Holdings Corp. and one of the leading manufacturers of high efficiency transformers in South East Asia region. The super green transformer will be made of recyclable and biodegradable materials.

Hitachi ABB Power Grids launched two new traction transformers, “RESIBLOC® CRail 25 kV” and “Natural Cooling Effilight® Traction Transformer” in June 2021. The latter model replaces traditional cooling module with natural airflow system. It uses a state of the art cooling system that harnesses natural air flow from the train’s motion and sends it to heat exchanger thus eliminating the need for air fans.

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

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Seed Processing Equipment Market: Key Players, Applications, Outlook, SWOT Analysis And Forecasts By 2028 | Get Insights FMI

The main purpose of seed processing equipment is to raise the standard of seed quality. Scalping, debearding, cleaning, and grading are just a few of the tasks that seed processing equipment performs during processing. The Seed processing equipment can change the product’s size, shape, and quality to increase the farm’s output. Additionally, the functional applications for which seed processing equipment is used, such as cereals and grains, fruits and vegetables, oilseeds and pulses, are categorised.

To process seeds, a variety of equipment is used, including aspirators, cleaners, elevators, separators, graders, and polishers. Increased output, improved appearance, high yield, extended shelf life, uniform emergence, and healthy, insect-free seeds that are produced economically are just a few of the many advantages of seed processing.

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To increase the farm’s output, seed processing machinery can alter the product’s size, shape, and quality. Additionally, the functional applications—such as cereals and grains, fruits and vegetables, oilseeds and pulses—for which seed processing equipment is used are categorised.

Agriculture is the socioeconomic sector that is essential to the expansion of the world economy, and seed production is a crucial component of many agricultural processes.

Seeds contain undesirable material like trash, stones, clods, dirt, and other matter when they are harvested from the field. This undesirable matter must be removed at the time of processing of seed for the further cycle. To remove this undesirable matter and store the quality standard of seeds, seed processing equipment are utilized.

Global Seed Processing Equipment Market: Dynamics

Nowadays, rising demand for food due to the increasing population and changing lifestyle among people will create increasing demand for agricultural industry products. This increased demand is expected to create market opportunities for seed processing equipment market vendors over the forecast period (2018-2028).

Provision of Government incentives and investment schemes to increase agricultural production are expected to shift the focus of crop producers from use of manual agricultural to core technologies including seed processing. As a result, this factor will support the demand of seed processing equipment market by end of 2028.

Further, increasing urban agriculture sector will promote the demand for seed processing equipment market at a global level.

Relatively higher prices of seed processing equipment will hamper the market growth during the forecast period. However, increasing on-farm irrigation projects at a global level will remain the key trend for the seed processing equipment market over the forecast period (2018-2026)

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Global Seed Processing Equipment Market: Regional outlook

On the basis of regions, global seed processing equipment market segmented into seven key regions such as the Middle East & Africa, North America, Latin America, Europe, South East Asia Pacific, China, and Japan. Among all regions, South East Asia & Pacific region is projected to account for a sustainable market share in term of volume owing to increased demand for agricultural activities in the region.

India, Vietnam, and China are anticipated to be key growth markets for seed processing equipment over the forecast period. Europe and North America are expected to exhibit moderate growth for seed processing equipment market during the forecast period.

Global Seed Processing Equipment Market: Key Players 

The global seed processing equipment market is fragmented with numerous players active in the marketplace. Some of the seed processing equipment market participants identified across the value chain of global seed processing equipment market include: CIMBRIA, Lewis M.

Carter Manufacturing, LLC, Lindquist Machine Corporation, Oliver Manufacturing CO, Inc., Universal Industries, Inc., ArrowCorp Inc., Westrup, Alvan Blanch Development Company, Seed processing Holland Inc., PETKUS Technologie and among others.

The seed processing equipment market 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 seed processing equipment market research report provides analysis and information according to market segments such as geographies, application, and industry.

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The Seed Processing Equipment Market report covers exhaustive analysis on

  • Seed Processing Equipment Market Segments
  • Seed Processing Equipment Market Dynamics
  • Seed Processing Equipment Market Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Technology
  • Seed Processing Equipment Market – Value Chain

Regional Seed Processing Equipment Market analysis includes

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

The seed processing equipment market 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.

Global Seed Processing Equipment Market: Segmentation

Global seed processing equipment market is segmented on the basis of product type, application areas, and regions as mentioned below.

On the basis of product type, global seed processing equipment market can be segmented as mentioned below:

  • Aspirator
  • Cleaner
  • Elevator
  • Separator
  • Graders
  • Polishers
  • Other seed processing equipment

On the basis of application areas, global seed processing equipment market can be segmented as mentioned below:

  • Oilseeds & Pulses
  • Cereals & Grains
  • Fruits & Vegetables

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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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Conveyor System Market 2022 Industry Research, Segmentation, Key Players Analysis and Forecast to 2032

The Conveyor system market will register steady growth with the overall valuation forecast to surpass US$ 13.7 Bn in 2021. The market’s worth will increase at a compound annual growth rate (CAGR) of 4.5% between 2021 and 2031. Global Conveyor system sales are expected to return to 2019 level, with shipments expected to reach 16,000 units by the end of 2031, says FMI.

Regionally, the North America market is set to expand at 3.5% CAGR over the course of the assessment period. The growth can be attributed thriving e-commerce industry and expansion of packaging centres in the U.S. and Canada.

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Conveyor systems demand s significantly increasing from the mining industry. Mining requires transportation and handling of large volume of heavy goods and debris. Low cost of conveyor system and minimum maintenance make them ideal choice for long distance transportation.

Rising per capita income and rapid economic growth in developing countries like India and Brazil are driving the manufacturing industry. This coupled with automation in fast-moving consumer goods (FMCG), baggage handling, and manufacturing industries will positively influence the market growth over the forecast period.

Industries are looking towards optimizing their manufacturing process to improve efficiency and production rate. This has encouraged advancements in conveyor system development and integration of automation in material handling system.

Automated conveyor systems eliminate human error, improve safety and boost the production volume with high repeatability. Owing to such benefits, companies are adopting modern conveyor system for material handling processes.

Surge in online retailing activities along with increasing demand for high quality goods will drive the adoption of conveyor and sortation systems in the retail industry. Companies are installing conveyor system to optimize warehouse spacing, sorting and cross-docking products, and automating their distribution process. Increase in online shopping in India, China, Brazil, and Chile will positively influence the market growth in upcoming years.

Key Takeaways from FMI’s Conveyor system Market Study

  • North America conveyor system market is forecast to expand at 3.5% CAGR due to rapid growth in online retail sector.
  • Growing adoption of automation in automotive and manufacturing industry, surging mining and construction activities along with growing e-commerce industry in the U.K. and Germany are the key factors driving the market in Europe.
  • Population surge, increase in demand for processed food, and presence of e-commerce giants like Alibaba group will drive the demand for conveyor systems in FMCG and packaging industries in China.
  • India is expected to offer lucrative opportunities as home to one of the leading the retail sectors after U.S. and China. Steady consumer demand and rising investment towards expansion of retail infrastructure will boost the demand for advanced material handling systems, such as conveyor systems.

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 “Increasing penetration of automation in material handling and distribution system and increase in number of supermarkets and distribution centers will boost the demand for conveyor system in upcoming years,” says the FMI analyst.

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Conveyor System Market – Report Scope

Who is winning?

Future Market Insights discusses the key trends shaping conveyor system market and highlights the strategies adopted by leading market players in the study.

Top players, including Daifuku Co., ltd., Schaefer Systems International, Inc., Interroll Holding AG, BEUMER GROUP, and Dematic Company accounted for 23.5% of the market in 2020. Some of the leading companies are investing in research and development activities to drive product launches.

For instance, SideDrive Conveyor Co. launched configurable side drive conveyor system in January 2021 for modular sanitary applications.

In response to pandemic, Multi-Conveyor collaborated with East Coast representatives to develop a hand-pack conveyor system to effectively follow social distancing in work place and launched “Barrier Spaced Conveyor” in July 2020.

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Dürr Group introduced automated guided vehicle designed for paint shops as a part of its intelligent production initiative in May 2019.

Prominent players operating in the conveyor system market are:-

  • Daifuku
  • BEUMER GROUP
  • Interroll Holding AG
  • Murata Machinery
  • Schaefer Systems International
  • Dürr Group

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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Diamond Core Drilling Market to Witness Sales Slump in Near Term Due to COVID-19; Long-term Outlook Remains Positive.

According to the report, the market is anticipated to grow at a healthy rate of 5.2 percent year over year (YoY), with shipments expected to reach 42,000 units by 2031.

Due to the need for improved infrastructure and to improve economic conditions, governments in numerous developing nations are increasing the construction and mining activities. This is expected to increase the adoption of diamond core drilling machines, spurring sales.

With increasing demand for customized and automated drilling machines, the market is expected to reach the value of US$ 1.8 Bn in 2021. Growth in the market is attributed to the rising mineral production across developing economies, including India, China, and Japan.

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As per FMI, the market registered an increase of 2% in 2021 registering year-on-year (YoY) growth of 5.2%. Due to the rising rate of fatalities and accidents at constrictions and mining sites, the government is pushing for the adoption of rig-operated drilling machines instead of hand-held.

Alongside this, technological advancements in industrial automation and demand for customized drilling machines, the market is expected to reach a shipment of 42,000 units during the forecast period (2021 -2031).

Key Takeaways from FMI’s Diamond Core Drilling Market Study

  • In terms of end-use, the construction industry will hold a majority of the share however increasing mineral production rate across the globe will increase the application of diamond core drilling in the mining industry
  • Due to stringent safety protocol and increasing fatalities in mining industries, adoption of rig-operated drilling machines is increasing, boosting segment growth
  • Based on drilling technique, stitch drilling is expected to account for lion’s share in the global diamond core drilling market
  • Germany is expected to be one of the most lucrative markets owing to the presence of leading companies
  • India is expected to witness lucrative growth opportunities backed by rising application in the mining and construction industry
  • China will lead the East Asia’s diamond core drilling market owing to the favourable government initiatives to increase the adoption of automated drilling machines

“With surging application of diamond core drilling in construction and mining industries, end-users are focusing on efficiency and precision. To meet the growing requirement for increased productivity, key manufacturers are extensively adopting advanced and cutting-edge technologies for automation and customization. This will widen the growth prospects for manufacturers in the forthcoming years,” says the FMI analyst. 

Competitive Landscape

Dominance of top five players has left the market consolidated, creating an entry barrier for new players in global diamond core-drilling market. Adoption of inorganic growth strategies to gain exposure in the overseas territories is one of the major factor expected to create growth opportunities.

Future Market Insights identifies Hilti Corporation, Epiroc AB, Bogart Long year, Robert Bosch, and Husqvarna AB among the top 5 players in the diamond core drilling market. The contribution of these top 5 players in global market revenue, collectively, is estimated to be around 13.6%.

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Key manufacturers are focusing on technological advancement and product customization which is expected to expand their regional footprints in the industry, spurring sales.

For instance, Barsele Minerals Corporation, on 7th June 2021, announced the resumption of diamond drilling activities which included drilling for 3,000 meters to test orogenic gold and volcanogenic massive sulphides. The drilling exploration program is operated through a joint venture with Agnico Eagle Mines Limited.

The company also announced the acquisition of Agnico Eagle’s indirect 55% interest in the Barsele Project and upon completion of the drilling project, the company will take over Agnico Eagle Mines Limited, consolidating 100% control.

Also, in June 2021, another manufacturer, Tectonic Metals Inc. announced the company’s exploration plans, anchored by two oriented diamond drilling campaigns, Tibbs Gold Project and Seventymile Gold Project in Alaska. The company is using rotary air blast drilling to carry out the exploration program.

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Get More Insights on Global Diamond Core Drilling Market

The research report analyzes demand for diamond core drilling across the globe. The diamond core drilling market has been analyzed with the COVID-19 impact, various macroeconomic factors, market trends & market background. As per Future Market Insights’ research scope, the market has been analyzed on the basis of operation type, drilling type, drilling technique, end use, and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, supply side and demand side.

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

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Outdoor TV Market is Expected to Grow at a 9% CAGR from 2022 to 2032 | FMI

The outdoor TV market will increase at a CAGR of 3.2 % between 2020 and 2030. An predicts lacklustre growth throughout the year, despite a southern demand trend in H1 2020. Outdoor television is thought to be more resistant to erratic weather and temperature changes. It has simple day and night dimming controls that allow it to adapt to changing lighting conditions. These TV panels are designed to provide brilliant and sharp visual quality, cancelling reflection from any undesirable light source, whether enjoying entertainment on a sunny day by the pool or at night.

The love for entertaining guests in the backyard and patio is fuelling demand in the household sector. With more consumers showing inclination for relaxing outdoors than staying indoor, FMI expects outdoor televisions to get more popular in the coming years. In its recent report, FMI studies the factors boosting global consumption of outdoor television. It covers various growth drivers and restraints affecting growth of the market. The report is also intended to help market players uncover hidden opportunities.

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It offers in-depth insights into the market. Some of these are:

  • Technological advancements are fuelling innovation of altered TV sizes and resolution. These developments have made television technologically more advanced and resistant to erratic weather
  • Rising demand for high resolution TV for outdoor entertainment will boost the market
  • Increasing production capacity and consistent pressure for price reduction has made outdoor TV less expensive
  • Some of the leading TV broadcasters and content producers are investment in ultra-high-definition (UHD) technology in order to offer better content to audience. This will have a positive impact on the overall market

Despite witnessing an impressive surge in the last couple of years, the unprecedented COVID-19 outbreak has exposed the vulnerabilities of the market. Since a majority of consumers are either at self-imposed isolation or avoiding public gathering due to the fear of contracting the virus, the sales of outdoor TV will steeply decline.

Nonetheless, FMI foresees hope for the market’s recovery as soon as the coronavirus passes. People from eagerly waiting for economic activities to resume and pandemic to pass. Once it happens, they are likely to resume their outdoor activities, paving way for the expansion of the market.

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“Rising interest in sports among audience will be a prime growth driver of the outdoor TV market. Consumers often enjoy hosting outdoor parties during sports season to enjoy the event unfold with their friends and families from the comfort of their backyards. This will boost sales in the residential segment. Commercial places will be driven by the same interest as they seek advanced technologies to keep their customers entertained,” said a lead analyst at FMI.

Who is winning?

Some of the companies profiled in the report are Peerless-AV, SunBriteTV, Platinum, MirageVision, Oolaa, Cinios, SkyVue, AquaLite TV, Luxurite, The TV Shield, Dish, Shenzhen WTV Technology, Cinios, and Seura.

Companies operating in the market are focusing on making their products more advanced and high-performing to lure customers. As a result, FMI observes are higher investment in research and development among the market players.

Because the outdoor TV market is fairly competitive due to the presence of several behemoths, market players give special attention to their promotional activities. In the near future, investment towards market campaigns will surge. Besides this, companies are likely to focus on creating attractive offers to attract customers. The winning imperative identified by FMI for key market actors, is ensuring brand loyalty of consumers. The report discusses several other interesting statistics.

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Outdoor TV Market Key Segment

Product Type

  • LCD
  • LED

Screen Size

  • Less than 40 inches
  • 40-50 inches
  • 50-60 inches
  • 60-70 inches
  • 70 inches and above

Screen Type

  • Flat
  • Curved

End Use

  • Commercial
  • Residential

Price Range

  • Economy
  • Mid-Range
  • Premium

Sales Channel

  • Wholesalers/ Distributors
  • Hypermarkets/ Supermarkets
  • Specialty Stores
  • Multi-brand Stores
  • Independent Small Stores
  • Convenience Stores
  • Online Retailers
  • Other Sales Channels

Region

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

About FMI:

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

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Underground Mining Equipment Market Recent Trends, Demand, Dynamic Innovation in Technology & Insights 2032

In 2022, it is anticipated that the market for underground mining equipment will be worth US$15.9 billion. Market valuation is anticipated to reach US$ 18.8 Bn in 2029, with sales increasing at a steady 2.4% CAGR.

Sales in the market are predicted to increase as the oil and gas industry expands. Sales are expected to increase in the coming years as a result of technological developments in autonomous equipment for both soft rock mining and hard rock mining.

Additionally, growing demand for hybrid and electric underground mining equipment to increase productivity and safety in underground mines will continue to fuel the market’s expansion over the course of the assessment period.

Surging Demand for Automation in the Mining Sector will Boost Sales of Mining Screening Equipment

Due to the high demand for technologically advanced underground mining equipment for increased productivity, the U.S. is anticipated to dominate the North American market during the forecast period. In 2022, sales in the underground mining equipment market in North America are anticipated to account for 12.7% of the overall market share.

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According to the U.S. Energy Information Administration, 22 states in the region produced 535 million short tonnes of coal in 2020. In 2020, the production of coal in five states—Wyoming, West Virginia, Pennsylvania, Illinois, and North Dakota—accounted for 71% of the nation’s total output.

In the United States, coal mining is a declining industry. However, recent efforts to restore underground coal mines are boosting the market for new mining equipment. Manufacturers are responding by releasing cutting-edge equipment, which is predicted to increase sales in the upcoming years.

China Underground Mining Equipment Market Remain Lucrative

“Expansion of the Oil & Gas Industry is Spurring Demand for Mining Gas Detection Equipment”

With rising sales of hydraulic mining equipment, China is anticipated to dominate the East Asian market during the assessment period. According to FMI, the market for underground mining equipment in East Asia is anticipated to account for 43% of the overall market share in 2022.

Sales in the market are anticipated to increase in response to the rising demand for safety in China’s gold mining exploration. Additionally, the country’s rising coal consumption is driving up coal mining sector sales, which is anticipated to accelerate market growth over the course of the forecast period.

How Will the Growth Unfold in the U.K. Underground Mining Equipment Market?

“Technological Advancements to Bolster Sales of Hard Rock Mining Tools”

According to FMI, sales of underground mining equipment in Europe are anticipated to make up 24.6% of the overall market share in 2022, with the U.K. emerging as a profitable region within Europe.

An increase in attention to security and safety issues in underground mines can be attributed to growth. Additionally, in order to protect miners and lower emissions, underground gas detection systems are in high demand due to stringent regulations regarding harmful emissions in the industrial sectors.

Additionally, the introduction of telematics in the mining industry is anticipated to be positive for the market’s expansion during the assessment period.

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Underground Mining Equipment Market By CategoryProduct Type:

  • Mining Loaders
  • Mining Trucks
  • Mining Drills
  • Mining Bolters
  • Mining Shearer
  • Continuous Miners
  • Mining Excavators & Shovels
  • Mining Scalers

Mining Technique:

  • Soft Rock Mining
  • Hard Rock Mining

End Users:

  • Mining Operators
  • Rental Service Provider

Region:

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

Leading players operating in the global underground mining equipment market are investing in research and development to integrate connective technology into their products to improve sales. In addition to this, players are aiming to gain a competitive edge through mergers, acquisitions, and collaborations. For instance:

  • In January 2022, Swedish mining equipment company Epiroc launched a drilling software known as Mobius for Drills. The software is integrated with artificial intelligence (AI) to consolidate and analyze data from sensors to help operators in real-time decision-making.

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Industrial Air Compressor Market – The global industrial air compressor market is expected to be valued at US$ 33.3Billion in 2022. With the increasing use in end-use industries the demand for industrial air compressors is projected to grow at a CAGR of 3.8% between 2022 and 2032

Industrial Automation Market – The global Industrial Automation Market is expected to have a significant CAGR of 7% during the forecast period to reach a valuation of US$ 77 Bn by 2032, up from US$ 36 Bn in 2021.

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

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Surface Water Sports Equipment Market is Projected to have a CAGR of 11% During Forecast Period by 2032 | FMI

The global surface water sports equipment market  is surging and is expected to continue increasing between 2020 and 2030. According to Future Market Insights (FMI), the surface water sports equipment market is a highly lucrative, and well poised to achieve a growth of over 5% over next ten years. Rising interest of people towards adventure water sports will boost sales.

The market is currently driven by frequent product launches and various technological advancements. For instance, the advent of electric vehicles in water sports activities will encourage manufacturers to make their launches more interesting to consumers.

Resultantly, companies will focus on offering better technologies and making their equipment high-performing. Studies suggest smaller companies are likely to focus more on innovations to strengthen their footprint in the global market.

For instance a New Zealand based startup called Manta5 has recently combined electric vehicle’s technology to that of watercraft to offer an exciting new equipment for surface water sports. It has launched a water bike called XE-1, which is built with carbon fiber hydrofoils on an aluminum frame.

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The water bike is inbuilt with a propeller that keeps the craft lifted out of the water as the rider picks up speed. It also has a proprietary gearbox connected to a hybrid chain and shaft drive that allows the craft to stay streamlines.

Driven by the slew of product launches witnessed at regular intervals, the global water sports equipment market will exhibit impressive growth. FMI studies the various factors driving the market in detail in its recent market study.

The report offers a comprehensive overview of the global surface water sports equipment market, covering factors enabling growth and key restraints. It offers in-depth insights into the market. Some of these are:

  • North America is expected to record high demand for surface sports water equipment
  • The market is expected to witness growth at a higher pace in East Asia
  • North America, Europe, and East Asia markets are likely to showcase a high degree of competition. Hence companies are expected to focus on technological advancements and product launches to gain edge
  • Advent of electric vehicles and AI will give significant impetus to the market
  • The unprecedented COVID-19 outbreak is expected to hamper growth. Lack of tourism due to the ongoing pandemic crisis might result in plummeting sales of surface water sports equipment

“Surface water sports equipment market is expected to witness considerable growth. While it might witness stunted sales due to the ongoing pandemic, recovery is on cards as soon as the coronavirus passes. Upward trend of investment will enable growth in the market in the coming years,” said a lead analyst at FMI.

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Who is winning?

Some of the leading companies operating in the global surface water sports equipment market are Paddle Surf, AIRE, Naish International, Rave Sports, O’Brien, BIC Sports, Aqua Marine, Belassi, BomBoard, Starboard, Solstice Sports, Surftech, and Johnson Outdoors.

Companies operating in the market usually focus on innovations. FMI observes a higher spending on research and spending to support product launches. While the market exhibits a presence of a significant number of established companies, it also offers immense prospects for smaller businesses and new entrants.

Get Valuable Insights on Surface Water Sports Equipment Market

Future Market Insights, provides an unbiased analysis of the global surface water sports equipment market in its new offering, giving historical demand data (2015-2019) and forecast statistics for the period from 2020-2030. The study divulges compelling insights into the market. In terms of product, the market can be segmented into paddle sports equipment, ski sports equipment, board sports equipment. Based on end user, the market can be segmented into beginner, professional, and intermediate. On the basis of consumer orientation, the market can be bifurcated into adults and kids and based on price range it can be bifurcated into mass and premium. Regionally, the market covers North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East and Africa.

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Key Segment

Product Type

  • Paddle Sports Equipment
  • Ski Sports Equipment
  • Board Sports Equipment

Consumer Orientation

  • Adults
  • Kids

Sales Channel

  • Wholesalers/ Distributors
  • Hypermarkets/ Supermarkets
  • Exclusive Stores
  • Multi-brand Stores
  • Franchise Sports Chain Outlets
  • Independent Sports Outlets
  • Online Retailers

End User

  • Beginner
  • Intermediate
  • Professional

Price Range

  • Mass
  • Premium

Region

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

About FMI:

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

Contact:

Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
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