Global Hydraulic Cylinder Market will reach a value of USD 18.3 billion by 2027 at a CAGR of 4.4% – FMI

The global hydraulic cylinder market was worth USD 14.3 billion in 2021 and is estimated to grow to USD 18.3 billion by 2027, with a CAGR of 4.4 percent between 2022 and 2027. An apparatus that transforms hydraulic energy into a linear force and movement is a hydraulic cylinder. Additionally, it is a linear hydraulic motor with a moving component operating in a cylindrical bore, such as a piston with a piston rod or a plunger. As a linear motor and structural component, the hydraulic cylinder is significantly impacted by the environment.

In order to find and gather data for this in-depth commercial study of the global hydraulic cylinder market, a variety of secondary sources, including encyclopaedias, directories, and databases, were used. Hydraulic cylinders are typically designed for working pressures of up to 350–400 bar and occasionally up to 600 bar and more for special purposes. The primary sources – experts from the industry and suppliers have been interviewed to obtain and verify critical information as well as to assess the future prospects of the hydraulic cylinders market. The subsea control systems market is led by players such as Bosch Rexroth (Germany), Caterpillar (U.S.), Eaton (Ireland), Parker Hannifin (U.S.).

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The increased supply for heavy construction and mining equipment from the construction, mining, and oil gas industries is largely responsible for the market’s rise. The increasing usage of material handling equipment across sectors throughout the world is a primary driver of the hydraulic cylinder market expansion.

Function, specification, bore size, applicability, sector, and region have all been used to segment the global hydraulic cylinder market. Because of their rising acceptance in the construction and material handling industries, government measures to resuscitate infrastructural projects across countries have contributed to driving up demand for hydraulic cylinders.

Increased farm mechanization across regions, particularly in APAC, as well as global increases in mining exploration operations, have all aided the hydraulic cylinder market’s expansion.

To make a high-quality hydraulic cylinder, metal forging and accurate engineering are required.

Small and medium-sized businesses (SMEs) face cost constraints when it comes to entering the hydraulic cylinder market. Hydraulic cylinders have ongoing maintenance expenditures in addition to the initial product price. Hydraulic cylinders must be serviced on a regular basis to avoid oil leaks and other problems. The cylinder rod’s quality and finish must be checked on a regular basis.

Failure can also be caused by improper rod strength or diameter. The cylinder tube should be inspected on a regular basis since the cylinder walls may wear down over time, reducing its thickness. These characteristics result in higher maintenance expenses, putting a stop to the use of hydraulic cylinders.

Fluid, the main oil, is used to power hydraulic cylinders. The contamination of the environment is caused by the leakage of these fluids. As a result, end-users who want to keep their environment clean and healthy prefer cleaner alternatives to hydraulic cylinders. Pneumatic cylinders, which employ the pressure of compressed gas to generate a force in a reciprocating linear motion, are one such option.

Pneumatic cylinders are employed in agricultural and material handling operations that necessitate humans being near to the cylinders. The accessibility of cleaner replacements poses a threat to the hydraulic cylinder market’s growth.

Key Takeaways

  • By 2025, the mobile application of hydraulic cylinders is expected to grow by more than 4%. Product demand is expected to be driven by increased expenditure in the chemical industry to meet the demand for linear motion.
  • As per the global hydraulic cylinder market study, by 2025, the tie rod hydraulic cylinder industry is projected to have grown by more than 4%. Increasing the use of agricultural equipment for farming in order to increase production capacity in order to keep up with the rising population rate may boost industrial dynamics.
  • By 2025, the single-acting hydraulic cylinder industry is anticipated to have grown by more than 4%. The installation of these items will be driven by the growing need for material handling equipment in the food and beverage industry to produce linear motion for conveyor belts and assembly lines.
  • China and the United States are two markets with strong CAGRs. By 2031, North America and East Asia are expected to have a combined market share of roughly 35%.
  • Over the projection period, demand for hydraulic cylinders in India is expected to grow at a nearly 7% CAGR. The market is reinforced by ongoing and planned industrial and infrastructure developments around the country, which are mostly financed by the government.

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Competitive Landscape

Aggressive Inc., Eaton Corporation PLC, Texas Inc, Bosch Rexroth AG, Enerpac Corp., Best Metal Products, Prince Manufacturing Corporation, Caterpillar Inc., Hyco International, Inc, Hydrosila, Pacoma GmbH, Parker-Hannifin Corporation, Weber-Hydraulik Group, Norrhydro Oy, Wipro Infrastructure Engineering, and others are among the leading players in the hydraulic cylinder market.

Hydraulic cylinder producers use a variety of techniques to gain a competitive advantage, including continuous product development and regional growth. Furthermore, the expanding use of these products in energy-intensive industries will provide more advantageous economic prospects for industry participants and a rise in hydraulic cylinder market adoption.

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Building & Construction Segment Will Continue To Dominate The Global Biocomposites Market Says Future Market Insights, Inc.

The global Biocomposites Market is expected to increase at a robust CAGR of 16%, from US$ 25 Bn in 2021 to US$ 128 Bn in 2032. Over the forecast period, the global Biocomposites Market is predicted to increase at an exponential rate of 16%. Valued at US$ 25 Bn in 2021, the biocomposites market is anticipated to reach US$ 128 Bn by 2032. The increased research and development efforts for composite materials and biocomposite uses and benefits such as recyclability, lightweight, and cost-effectiveness are driving this trend. In addition, due to the harmful nature of synthetic materials, recycling challenges, and toxic residues, the biocomposites market size will continue to expand throughout the predicted timetable.

As per the biocomposites market report, Germany, the United States, and Japan are among the developed countries working on boosting the usage of ecologically friendly items rather than petroleum-based products.

The European Union (EU) has favoured such items over the United States and Japanese governments. It requires the use of bio-based materials, encourages the recyclability of vehicle components, and holds automakers accountable for disposal at the end of the vehicle’s service life. These laws are likely to boost demand for biocomposites in various end-use industries, including transportation, construction, and electrical and electronics.

The power necessary to make biocomposites is far lower than that critical to making glass fiber composites or carbon fiber composites. On the other hand, Biocomposites are more expensive than glass fiber composites. However, price reductions are prospects due to economies of scale and common biocomposites applications.

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These biocomposites may be made inexpensively in developing countries like India and China using abundant raw materials, including flax, jute, Kenaf, and hemp. Therefore, the overall cost of natural fiber-based biocomposites will be reduced. In addition, the biocomposites market future trends indicate that as the technology matures and production reaches economies of scale, these biocomposites are likely to become less expensive in the long run.

COVID-19 has had a detrimental impact on sales of biocomposites due to a drop in demand from numerous end-use sectors. Being one of the largest users of biocomposites, building and construction have seen the worst and most immediate effects of the epidemic. The building industry has been hit the worst. This has had a negative biocomposites market outlook.

Advancing at a CAGR of 16%, the biocomposites market size is expected to reach US$ 51 Bn by 2026.

Key Takeaways

  • The hybrid composites product section captured the largest market size in the global biocomposites market, owing to increased biocomposites applications around the world. Its substantial market share is credited with the optimum fiber adhesion that leads to decreased moisture content, high strength, and structural capacity.
  • As per the biocomposites adoption trends, they are predicted to be the dominant market in the Asia Pacific. Over the projected period, it is also anticipated to be the fastest regional market.
  • The requirement for synthetic polymer biocomposites had decreased in 2020 because of the COVID-19 pandemic. As global end-use industries found a stable footing by the fourth quarter of 2020, demand for biocomposites also showed signs of recovery.
  • The market for biocomposites is dominated by the building and construction industry.
  • Wood fiber composites have the biggest market share in volume in the global biocomposites industry.

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Biocomposites Market Key Segments

By Fiber Type:         

  • Wood Fiber Composites.
  • Non-wood Fiber Composites

By Polymer Type:

  • Natural Polymer Composites
  • Synthetic Polymer Composites

By Product:

  • Hybrid Biocomposites
  • Green Biocomposites

By End-use Industry:

  • Building & Construction
  • Transportation
  • Consumer Goods
  • Others

By Region:

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

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Competitive Landscape

Leading biocomposites manufacturers are rigorously investing in research and development for introducing new biocomposites with efficient properties. They are targeting small-scale domestic businesses like biocomposites packaging to increase their sales. Besides this, they have adopted various organic and inorganic strategies such as mergers, partnerships, acquisitions, and collaborations to dominate the Biocomposites market.

For instance,

  • In October 2021, Lanxess launched a new fully biocomposite material in its Tepex range of continuous-fibre-reinforced thermoplastic composites. The material combines natural flax fibers with bio-based polylactic acid.

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Below 30 Hp Centrifugal Water Pump Market Size –  The below 30 Hp centrifugal water pump market is anticipated to increase, from US$ 37.1 million in 2022 to US$ 68.95 million in 2032. According to FMI, the market is expected to expand at a CAGR of 5.3% over the course of the projected period.

Commercial Refrigeration Equipment Market Size – The global commercial refrigeration equipment market is anticipated to reach a valuation of US$ 68.3 Bn by 2028 while progressing at a CAGR of 4% (2022-2028).

Gaskets and Seals Market Size – Global demand for gaskets and seals is expected to rise at a yearly growth rate of 5.4% Y-o-Y to US$ 102 Billion in 2026

Dredging Market Size – The dredging market is anticipated to increase from US$ 15.7 billion in 2022 to US$ 22.3 billion in 2032. According to FMI, the market is expected to expand at a CAGR of 3.7% over the course of the projected period.

Dry Vacuum Pumps Market Size – Expanding at a CAGR of 6.1%, the global dry vacuum pumps market is projected to increase from a valuation of US$ 2.25 Bn in 2022 to US$ 3.22 Bn by 2028.

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Wine Cooler Market is Projected to Exhibit a Steady 5.6% CAGR through the Forecast Period by 2029 | FMI

The Wine Cooler Market is expected to reach US$ 2 Bn in 2018, likely to surge at a vigorous 5.6% CAGR during the assessment period 2019 – 2029. The market will garner prominence on the back of heightened demand in hospitality, and food & beverages industries. Moreover, increased product launches owing to technological innovations is driving the market growth, finds a new Future Market Insights (FMI) report.

Attributes such as enhanced functionality and aesthetic appeal have contributed to the growth of wine cooler market. Internet of Things will play a pivotal role in product development through the projected period. Moreover, manufacturers continue to launch eco-friendly wine coolers to reinforce their sustainable practices.

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Key Takeaways of Wine Cooler Market Study

  • Food & beverages industry continues to generate substantial demand for wine coolers, with hospitality closing in.
  • Europe and North America collectively occupy approximately 66% of revenue share.
  • Consumers in developing countries will account for greater consumption of wine coolers through 2029.
  • Eco-friendly products will gain traction through the forecast period owing to increased government incentives and consumer preferences.

Heightened Per Capita Consumption of Wine Sustaining Growth of Wine Cooler MarketRising per capita consumption of wine amongst millennials is driving the growth of wine cooler market. Burgeoning hospitality industry in developing countries is soaring the demand for wine coolers.

Greater predilection of consumers towards enhanced product visibility and easy maneuverability is a significant growth contributor. Rising inclination towards energy-efficient wine coolers is fuelling the market growth. However, sales of new commercial wine coolers are restricted by demand for pre-used wine coolers. Most wine coolers are not equipped with door storage or adjustable shelves thereby limiting its functionality.

Innovation and Strategic Collaboration to Remain Pivotal for Industry LeadersGlobal wine cooler market is a fragmented landscape. FMI’s comprehensive study on wine cooler market features prominent market players including, but are not limiting to, Robert Bosch GmbH, Siemens AG, Viking Range, LLC, and Haier Group Corporation. Market leaders have escalated R&D activities to launch innovative wine coolers for stronger market foothold.

Wine coolers equipped with features such as multiple temperature zones, touchscreen panels, customized control settings for humidity and temperature have already infiltrated the market. Moreover, leading players continue to opt for strategic collaborations to foster their market presence.

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Wine Cooler Market: Segmentation
The global wine cooler market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to readers.

Installation

  • Built-in
  • Countertop
  • Freestanding

End-use Industry

  • Commercial
  • Residential

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Rising Affluence And Urbanization Are Boosting The District Cooling Market’s Demand

With an estimated CAGR of 3% during the projected period, the district cooling market share is expected to reach US$ 1.28 billion by 2032, finds a recent report published by FMI. The study finds that the rising demand for energy-efficient cooling technology proportionately reflects on the adoption of district cooling.

Asia Pacific and South America, impressive demand for district cooling technology is being observed in recent times. Rapid urbanization and changing climatic conditions are the propellers for adopting central cooling systems in the significant buildings of these regions. The global District Cooling System industry is expected to grow at a 3 percent CAGR, reaching US$ 1.28 Bn by 2032 from US$ 930 Mn in 2021.

“Due to the current coronavirus outbreak, healthcare facilities will increasingly utilise energy-efficient district cooling systems.” Governments enforce stricter GHG emission limitations, improving the prospects for the Middle East district cooling sector.”

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Moreover, the global concern for rising temperatures and environmental pollution has inspired governments to implement more sustainable methods of energy utilization. As a result, the district is heating and cooling markets are emerging as the energy-efficient and environment-friendly alternative against traditional refrigerators in almost every world.

Asia Pacific nations are at the forefront of adopting green energy consumption methods, which translates into the highest growth potential for the regional market.

The adoption of district cooling systems around the world has stemmed from rapidly rising temperatures and the proven viability of district cooling plants over time. However, the study finds that the district cooling market in Asia Pacific has shown an impressive growth. With an increasing awareness of the need for energy conservation, a District Cooling Plant concept has acquired even more traction.

The sales of district cooling are likely to rise as the need for energy-efficient technologies rises to meet the ongoing construction boom.

Continued deployment of viable and sustainable cooling systems to accomplish energy-saving targets and increased production of sustainable building solutions is anticipated to support the district cooling industry.

Furthermore, the growing use of renewable technology, combined with strict regulatory requirements to reduce pollution, would spur the district cooling market growth. Furthermore, severe climate circumstances would encourage district cooling due to rising surface temperature levels in the Middle East, Central Europe, and South Asian nations. Furthermore, over the forecasted period, total demand is increasing.

The population in tropical and hot temperature zones requires cooling to be more comfortable, particularly during the summer. As a result, air conditioner ownership is on the rise in these areas, according to the International Energy Agency (IEA). One of the most advanced markets for district cooling is the Middle East. The Middle East has been experiencing an increase in temperature in the summer, with temperatures exceeding 50 degrees Celsius, necessitating the adoption of district cooling.

When establishing a district cooling system, the limited availability of space for operating construction equipment is a significant construction issue. Other building obstacles include transporting equipment to a particular site and coordinating the efforts of the many contractors. One of the significant issues is ensuring that space for chiller plants and distribution pipelines is available. It isn’t easy to keep a district cooling plant running at near-total capacity all year. All-in-all, the district cooling market size is expected to reach a valuation of US$ 1.2 Bn by 2026.

Key Takeaways:

  • During the projection period, the electric chillers market is predicted to be the largest segment in the district cooling market by production technology.
  • During the forecast period, the commercial segment is likely to be the leading proportion in the sales of the district cooling market by application. The expansion of the commercial segment of the district cooling market is predicted to be fuelled by the development of new infrastructure in Middle Eastern countries and the growing requirement for businesses to decrease their carbon footprint.
  • Asia’s major markets include Japan, India, Malaysia, Singapore, China, and South Korea. The Indian government has outlined ambitious projects like Smart Cities and Smart Grid, which are anticipated to drive the market in the coming years.
  • Attributed to the increasingly affluent population and increased construction activity, the Middle East and Africa are likely to dominate most of the district cooling market opportunities, particularly in nations like the United Arab Emirates, Saudi Arabia, and Qatar.

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Competitive Landscape

As a large pool of players are present in the district cooling market, the nature of the market is fragmented.
  • National Central Cooling Company PJSC (TABREED) (UAE),
  • Emirates Central Cooling System Corporation (EMPOWER) (UAE),
  • Emirates District Cooling, LLC (EMICOOL) (UAE), and
  • Qatar District Cooling Company (QATAR COOL)

are the top players in the global district cooling market.

The district cooling companies have been using strategic initiatives such as contracts and agreements, investments and expansions, partnerships, collaborations, alliances, and joint ventures to capture a larger district cooling market share.

Tabreed, a leading district cooling company, signed a significant strategic agreement with the International Finance Corporation (IFC), a World Bank Group member and the world’s largest development agency focused on the private sector in emerging economies, in December 2021. IFC has invested more than USD 321 billion in emerging nations since its founding in 1956.
Empower signed an agreement in November 2021 to acquire Dubai International Airport’s district cooling systems, with a total cooling capacity of 110,000 refrigeration tonnes (RT), for a total value of AED 1.1 billion, using an amalgamation of internal accruals and debt financing from local and international banks with whom Empower has close strategic relationships

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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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Industrial Air Compressor Market Rising Demand For Power Generation Will Push Growth In Japan And China : FMI

Increased investments in mechanical equipment will pave the way for the industrial air compressor market to expand in the coming years. According to a Future Market Insights (FMI) analysis, the industrial air compressor market is expected to be worth US$ 26.7 billion in 2021.

Industrial air compressor manufacturers are concentrating on the development of digitally controlled systems, such as compression solutions with automation and digitalization. This, in turn, is expected to create positive growth prospects for industrial air compressor demand.

Furthermore, rising demand from the oil and gas sector will continue to be a key growth driver. According to the report, the oil and gas and automotive and transportation industries will account for the majority of market sales during the forecast period. As these industries expand, attractive opportunities for growth will emerge in the near future.

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Key Takeaways from the Industrial Air Compressor Market Study

  • Industrial air compressor market will register a CAGR of ~4.6% over the forecast period of 2021-2031
  • Expansion of oil exploration activities have placed the U.S. as a chief market, which accounts for over 70% sales within North America
  • Improving production in the automotive sector will fuel demand in the U.K., enabling above 6% y-o-y growth in 2021 in terms of value
  • Application across diverse sectors will drive growth in industrial air compressor market in Germany and France
  • Rising demand for power generation will push growth in Japan and China

“The main catalyst behind the growing popularity of air compressors is the innovation that goes into newer models in the market. In economic downturns, sales of air compressors are less likely to witness significant gains in some of the world’s more developed markets. Nonetheless, the technology will always have thriving markets as long as there are developing countries are eager to compete with the industrialized world.” says a Future Market Insights analyst.

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The industrial air compressor market is expected to be a high-opportunity market in the forecast period owing to increasing demand from various manufacturing and production industries as well as investments in oil & gas and power generation sectors, which are expected to drive the demand through the forecast period. Moreover, manufacturers are emphasizing on developing digitalized and customized products as per customer demands along with improved technology, life cycle, higher efficiency and less maintenance cost. These factors are expected to positively influence growth in demand for Industrial air compressors during the forecast period.

Industrial Air Compressor Market by Category

By Technology

  • Rotary
  • Reciprocating
  • Centrifugal
  • Axial

By Capacity

  • Upto 500 HP
  • 500 – 2000 HP
  • 2000 – 5000 HP
  • 5000 – 12000 HP
  • 12000 – 20000 HP
  • Above 20000 HP

By Compression Stage

  • Single Stage
  • Double Stage
  • Multistage

By Driver Type

  • Electric
  • Natural Gas
  • Fuel Driven

By End Use

  • Automotive and Transportation
  • Oil and Gas
  • Power Generation
  • Chemicals
  • Food and Beverages
  • Pharmaceuticals
  • Mining and Metals
  • Industrial Air Separation
  • Other manufacturing

Region

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

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Competitive Landscape

The industrial air compressor market is highly consolidated, in which the leading players account for more than three fourths of the market share. The penetration of small regional players makes this market more competitive. Some of the key players in the market are Atlas Copco, Baker Hughes, Anest Iwata Corporation, General Electric, Hitachi Industrial Equipment Systems Co., Ingersoll Rand, Burckhardt, MAN SE, Siemens Energy AG, Ariel Corp., and Bauer Kompressoren GmbH, among others. These players have higher shares in the global market, and have longstanding relationships with a number of end users, giving them an upper hand over their peers.

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During the forecast period, the North American fibre laser market is anticipated to expand at a rate of more than 10.9% CAGR

The market for fibre lasers will expand favourably, and in 2021, it’s expected to reach a total value of more than US$ 3.1 billion. Between 2021 and 2031, the market’s value will grow at a compound annual growth rate (CAGR) of 11.1%.

After experiencing tepid growth in 2020, global sales are predicted to increase by 10.7% in 2021. With shipments approaching 115,000 units, FMI offers a promising outlook for the market’s future growth.

IPG Photonics Corporation is expected to hold about 50% of the global market share in 2021, followed by TRUMPF GmbH & Co. KG with 17%, Lumnetum Operations LLC AG with 8%, Wuhan Raycus Fiber Laser Technologies Co. Ltd. with 9%, and Fujikura Ltd. with 4%.

Driving Demand for Fiber-Laser Devices

Because of their high productivity and favourable returns on investment, particularly in applications involving fine and micromaterial processing, fibre lasers are growing in popularity among manufacturers. The market growth in material processing applications is anticipated to be driven by rising demand for mobile and smart electronic devices as well as increasing demand for the miniaturisation of integrated circuits and wafers.

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Since they provide extremely precise marking and are applicable to a wide range of material surfaces and end-user industries, they are used in marking applications. Fiber laser marking is challenging to copy, non-contracting, and provides band protection. These elements will have a favourable impact on market expansion.

Printed circuit boards, plates, engine components, machining tools, and many other items are marked with them. The development of modular designs and flexible machine concepts using 3D printing will increase through 2031, accelerating the growth of the fibre laser market.

In the near future, there will be a high demand for potent fibre lasers to process thicker materials and remove unwanted pulse pedestals, opening up new business opportunities for market participants.

Demand for Fiber Lasers is increasing in China.

Because of the rising demand for high-power cutting options and fabricated metal products, China is predicted to generate lucrative growth opportunities in the fibre laser market. Increased industrialization and manufacturing activities in the country have increased demand for fibre lasers.

The main factor influencing the demand for fibre laser in the nation is the Chinese government’s adoption of the “Made in China” industrial strategy, which aims to modernise its manufacturing sector and make it the world’s factory by 2025. China continues to be among the top producers of semiconductors, making it a lucrative market for industry players.

A significant portion of China’s GDP is contributed by the metal fabrication industry (GDP). Fiber laser metal cutting is a crucial step in the production of fabricated metal goods and is anticipated to profit from new industrial regulations put forth by the government.

Over the course of the forecast period, the Chinese market will experience significant growth in the use of fibre lasers for metal cutting and sheet metal and thin material welding.

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In Germany, there is a significant opportunity for fibre laser sales.

Due to the rising demand in the semiconductor and integrated circuit manufacturing industries, the fibre laser market in Germany will experience significant growth during the forecast period.

Modern manufacturing industries are looking to adopt portable laser cutting and welding equipment to increase productivity as a result of advancements in manufacturing technology. The country’s demand for fibre lasers is being driven by an increase in the demand for small electronic components.

Fiber lasers are frequently used in the production of automobile bodies for thin metal welding, high-precision cutting, and perforation of semiconductor wafers and electronic circuits. The demand for integrated circuits will rise as the market for fibre lasers in Germany expands as a result of rising demand for electric and autonomous vehicles.

The Federal Motor Transport Authority (KBA) reported in its 2020 report that there were more than 394,000 electric vehicles registered in Germany. The country’s market will grow favourably as light detection and ranging (LiDAR) systems are increasingly used in contemporary automobiles.

Germany is regarded as a major European market by FMI analysis, and it is anticipated that it will continue to have a high demand for fibre lasers throughout the forecast period.

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Driving the Fiber Laser Market in the U.S.

According to FMI, North America is anticipated to grow at a CAGR of over 10.9% during the forecast period. According to the research, the U.S. is anticipated to hold the majority of the market share in North America through 2031.

One of the main factors promoting market growth in the U.S. is the existence of a highly developed industrial sector. In terms of Gross Domestic Product, the CMS Office of the Actuary calculated that the manufacturing sector makes up 10.8% of the American economy (GDP).

Additionally, the United States is a world leader in the production of consumer electronics and automobiles, making it a lucrative market for companies involved in the fibre laser industry. The country’s automotive industry is being supported by growing economic conditions and rising per capita income. An increase in automobile production will support market growth in the United States because fibre lasers are used in high-power applications like the welding of lightweight automotive body panels.

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

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The Performance Of End-Use Industries As A Whole Will Continue To Have A Significant Impact On The Demand For Hydraulic Gear Pumps

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

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

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

Key Takeaways of the Hydraulic Gear Pumps Study 

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

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

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Increasing Adoption of Agriculture and Forestry Equipment 

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

Competitive Landscape Analysis: 

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

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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Shisha Tobacco Market is Projected to Reach US$ 26 Billion by 2032 | FMI

The shisha tobacco market is expected to reach US$ 26 Bn by 2032, likely to surge at a vigorous 4% CAGR during the assessment period. Shisha tobacco use is typically done with friends and is an important part of several cultures’ social gatherings and events. These days, college and university life have been incorporated into this culture. Additionally, water pipe use is frequently shared among friends and family.

This is due to two reasons: first, it lowers the cost of shisha tobacco use; second, and more emotionally, it fosters a sense of brotherhood, especially among the male demographic, and makes them feel more accepted in society. Due to this tradition, there are now more cafes, restaurants, and lounges that offer a variety of services, including shisha tobacco services.

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The spread has made water pipe smoking more widely accessible locally and encouraged young people in various nations to seek out unique neurostimulating activities. This characteristic of shisha tobacco fits in well with the rapid expansion of cafes, restaurants, and lounges around the world.

The booming hotel, restaurant, and cafe (HoReCa) industry, particularly in developing nations, has coincided with the rebirth of the water pipe smoking tradition in nations like India, where young shisha tobacco use has moved beyond rural areas and into urban ones. Hookah cafes have proliferated in urban regions of affluent nations like the U.S., particularly near college campuses. Because of this simple accessibility, the industry expansion in

Consumer delusion that shisha tobacco is less harmful than other forms of tobacco consumption currently guides the market growth. However, as consumers get familiar with the complete truth about the harmful effects of shisha tobacco, the market growth is likely to be affected.

The above-mentioned factors are helping the shisha tobacco market to grow rapidly and with the rising awareness regarding health concerns, manufacturers are innovating and supplying herbal shisha tobacco that is likely to be less harmful compared to the original shisha tobacco.

Key Takeaways from the Shisha tobacco Market Study

  • Strong shisha tobacco to capture approximately a prominent share in 2021. However, through 2032, demand for the light variant of shisha tobacco is expected to gain traction due to the rising awareness regarding various health concerns.
  • Direct distribution of shisha tobacco is likely to generate a significant revenue during the forecast period. However, with the changing purchasing preferences of individuals, online retailers are likely to hold the maximum market share by 2032.

Impact of COVID-19 on the Market

The COVID-19 pandemic had prompted a growing list of event cancellations and closures, as health officials urge the public to avoid large crowds. Moreover, the shutdown of industries, manufacturing plants, and rise in unemployment leads to the growth of shortage of material thus, rise in dependency of developing countries on developed countries.

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Additionally, the ban on trading and changing preferences of individuals, and rising health concerns lead individuals to adopt healthy habits. Moreover, the closed café, bars, and restaurants gave no option to individuals especially millennials, thus, dropping the sales and demand in the shisha tobacco market.

Who is Winning?

Leading manufacturers of shisha tobacco are focused on introducing flavors, based upon, regional interest and further advertising them globally to drive sales of shisha tobacco globally.

Major players present in the shisha tobacco market are Fumari Hookah, Haze Tobacco, LLC, Tangiers Inc., Al Fakher Tobacco Trading, Japan Tobacco Inc., Alchemist Tobacco Co., Soex India Pvt. Ltd, Middle East for Tobacco, Al-Tawareg Tobacco Molasses Company, Arabic Factory of Smoking, Al Zawrae Industrial Company, Romman Tobakko, Ugly Tobacco Hookah Inc., Adalya Hookah, Cloud Tobacco Inc., Flavors of Americas, Capital Tobacco, Eastern Tombac & Tobacco Establishment, and Al-Amir Tobacco among others.

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Global Shisha Tobacco Market by Category

By Product Type:

  • Strong Shisha Tobacco
  • Mild Shisha Tobacco
  • Light Shisha Tobacco

By Flavor:

  • Fruit
  • Berry
  • Apple
  • Melon
  • Citrus
  • Tropical
  • Others
  • Chocolate
  • Caramel
  • Mint
  • Blended
  • Others

By Sales Channel:

  • Direct Sales
  • Hypermarket/Supermarkets
  • Specialty Stores
  • Convenience Stores
  • Independent Small Stores
  • Online Retailers
  • Other Sales Channel

By Region:

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

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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Residential Water Treatment Devices Market is Anticipated to Grow at a Robust 5% CAGR by 2031

The global residential water treatment devices market is projected to total US$ 23 Bn in 2021 by 2027, likely to surge at a vigorous ~5% CAGR during the assessment period 2021 – 2031. Water is required for the life of all living beings while also being one of the most limited resources. Large-scale urbanisation, widespread pesticide use, and naturally occurring pollutants in some water basins have contaminated these sources of life, rendering them unsafe for human use.

Future Market Insights has comprehensively analysed the global residential water treatment devices market in its report titled ‘Residential Water Treatment Devices Market: Global Industry Analysis (2012–2016) and Opportunity Assessment (2017–2027),’ which is expected to grow at a robust CAGR of 9% from 2017 to 2027 and cross a value of of US$ 56 billion by that time.

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Region – Governments Unable to Provide Safe Drinking to all Citizens in APEJ

The APEJ region now accounts for 3/5th of the global population and is growing rapidly. A UNICEF report estimates that the growth rate far there outpaces that of the number of people gaining access to safe drinking water. The 2011 Census of India states that 14% of households in the country cannot access safe drinking water.

In addition to this, large scale industrialization and excessive pesticide use deteriorates the quality of natural water bodies in the APEJ region. Many water bodies that provide water for millions of local inhabitants have dangerously high levels of toxins. In China, more than 80% of water bodies including shallow groundwater has been affected by industrial waste and agricultural chemicals that seep into the nearest water body from the soil and waste injection.

In Indonesia, more than 75% of rivers are polluted with high levels of fluoride and arsenic and this directly leads to the deaths of approx. 50,000 people annually.

Region – Increasing Cases of Waterborne Diseases in North America

The U.S. has one of the safest drinking water systems on the globe yet there are several cases of gastrointestinal illnesses reported in the country every year because of the inadequacy of public water systems that excludes consumption from non-public systems. Waterborne contaminants can lead to numerous health problems such as vomiting, diarrhoea, breathing difficulty, eye, ear, and skin infections, and pneumonia.

Diseases such as giardiasis, cryptosporidiosis, otitis externa caused nearly 40,000 hospitalizations and cost just under a billion dollars every year in the country. The bacteria Clostridium difficile alone causes almost 8000 deaths annually. These deaths can be avoided with the help of devices available in the North America residential water treatment devices market that is projected to be worth roughly US$ 7.8 billion in 2027 with the US comprising the bulk of this.

Equipment Type – Reverse Osmosis Most Popular Equipment Type

The reverse osmosis segment has a market share of almost 60% in the residential water treatment devices market in 2017 and is anticipated to rise to 63% by the end of the forecast period. Reverse osmosis is projected to witness the highest CAGR of 9.7% by value from 2017-2027, making it imperative for key stakeholders in the residential water treatment devices market to target this equipment type. An absolute dollar opportunity of slightly under a billion dollars in 2017 over 2016 is waiting to be tapped in the reverse osmosis segment of the residential water treatment devices market.

Competition Dashboard in the Residential Water Treatment Devices Market

The companies profiled in the residential water treatment devices market report are Amway Corporation, The 3M Company, Haier Group Corporation, Robert Bosch GmbH, Whirlpool Corporation, BRITA GmbH, Culligan International Company, Eureka Forbes, Kent RO Systems Ltd., Panasonic Corp ADR, LG Electronics Inc.,Hindustan Unilever Ltd., Mitsubishi Rayon Cleansui Co. Ltd., P.T. Holland, A.O. Smith Corporation, Mazuma Thailand Co. Ltd., Ceramica Stefani S.A., Lorenzetti S.A., PSA Industrias Pugliese S. A.,Europa Group, and Indústria Brasileira de Bebedouros Ltda. S.A.

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Key Insights in the Residential Water Treatment Devices Market

The residential water treatment devices market has been characterized by the lack of new technologies and a sluggishness on the part of key stakeholders. There has been no major R&D investment and product differentiation is absent. Thus, price becomes the deciding factor for buyers and any company that can reduce the initial or maintenance cost substantially stands to reap significant benefits in the residential water treatment devices market. Companies should try to introduce smart new products that offer a multitude of features such as heating or chilling water, adding flavours or purifying it at multiple stages.

Low Dosage Hydrate Inhibitors Market by Category

Product Type:

  • Anti-agglomerate (AA) Inhibitors
  • Kinetic Hydrate Inhibitors (KHIs)

Terrain Type:

  • Onshore
  • Offshore

Region:

  • North America
  • Latin America
  • Europe
  • Oceania
  • East Asia
  • South Asia
  • Middle East & Africa (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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Spinal Cord Stimulators Market is expected to grow at over a CAGR of 7.5% during the forecast period (2022-2032).

[274 Pages Report] In terms of value, an impressive 6.4% CAGR is estimated for the global spinal cord stimulators market by a report of Future Market Insights (FMI). In 2017, the market will account for nearly US$ 2,000 Mn in revenues; by 2027 this number is estimated to reach US$ 3,568.2 Mn. Growth of the market is primarily attributed to under penetration of potential market.

Introduction of affordable devices would pave huge opportunities for the global spinal cord stimulators market across developing economies. Customized spinal cord stimulators as per the requirements of an individual is expected to offer higher growth potential for leading market players. Specialists in healthcare settings are more likely to prescribe devices that are smaller in size, owing to their easy implantation and less painful surgical procedure.

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Spinal Cord Stimulators Market

Spinal Cord Stimulators’ Ability of Reducing Opioid Analgesics Addiction to Drive the Market Growth

Majority of patients with chronic pain are increasingly depending upon opioid analgesics; however spinal cord stimulators is capable of reducing this addiction to a great extent. Entry of additional competitors in the market is expected to increase awareness about effectiveness of spinal cord stimulators. Spinal cord stimulators are comparatively more cost-effective than conventional medical management (CMM). Leading companies in the market are taking initiatives in improving technology for spinal cord stimulators. The aforementioned factors are estimated to drive growth of the global spinal cord stimulators market.

However, spinal cord stimulators have little access to evidence-based data in order to confirm effectiveness of these devices for management of chronic pain. Clinical validation of spinal cord stimulation is based on observational data, instead of verified data. This had led several private insurance companies to refuse reimbursement of costs, which in turn is impeding the market growth. In addition, complications associated with spinal cord stimulators, such as paresthesia- characterised by burning sensation, is further expected to restrain growth of the global spinal cord stimulators market.

Rechargeable Spinal Cord Stimulators will Remain Sought-After Product in the Market

In terms of value, rechargeable spinal cord stimulators are expected to remain sought-after product in the market. Revenues amassed from sales of rechargeable spinal cord stimulators are expected to reach US$ 2,530.4 Mn by 2027-end. In addition, sales of non-rechargeable spinal cord stimulators are anticipated to expand at 4.6% CAGR through 2027. Factors such as low battery life, and requirement of surgery for replacement of battery are restricting adoption of non-rechargeable spinal cord stimulators across the globe.

Application of spinal cord stimulators will remain highest in failed back surgery syndrome (FBSS), with sales estimated to surpass US$ 1,000 Mn in 2017. In addition, complex regional pain syndrome (CRPS) is projected to be the second-fastest growing application of spinal cord stimulators in the market. In terms of value, sales of spinal cord stimulators in CRPS are estimated to register 5.8% CAGR through 2027.

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Adoption of Spinal Cord Stimulators to Witness Fastest Growth in Ambulatory Surgical Centres

Although hospitals will continue to be largest end-users of spinal cord stimulators, adoption will witness fastest growth in ambulatory surgical centres. Sales of spinal cord stimulators in hospitals are estimated to account for revenues worth US$ 627.9 Mn in 2017. Demand for spinal cord stimulators in ambulatory surgical centres is projected to exhibit 6.8% CAGR through 2027. In contrast, demand for spinal cord stimulators in clinics will remain sluggish in the market.

North America will continue to remain dominant in the global spinal cord stimulators market, with sales estimated to reach nearly US$ 3,000 Mn in revenues by 2027-end. Western Europe will remain the second-largest market for spinal cord stimulators, expanding at 6.1% CAGR through 2027. In addition, markets in Eastern Europe and Japan are estimated to exhibit parallel expansion at 6% CAGR through 2027.

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Key market players identified in FMI’s report include

  • Boston Scientific Corp.
  • Medtronic Private Limited Company
  • St Jude Medical LLC
  • Nevro Corp
  • Nuvectra Corporation
  • Stimwave
  • Saluda Medical PTY Limited.

Spinal Cord Stimulators Market Taxonomy Region

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • MEA
  • Japan

End User

  • Hospitals
  • Ambulatory Surgical Units
  • Clinics

Application

  • Failed Back Surgery Syndrome
  • Complex Regional Pain Syndrome
  • Ischemic Limb Pain
  • Others

Product Type

  • Rechargeable
  • Non-Rechargeable

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 9-years.

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