Market Research Blog

The global woodworking circular saw blades market is on track for significant expansion, with a projected Compound Annual Growth Rate (CAGR) of 4.4% from 2022 to 2029. Starting at a valuation of USD 50.4 million in 2022, the market is steadily progressing towards achieving a substantial worth of USD 68.3 million by 2029.

The surge in global urbanization and industrialization serves as a key driver, amplifying the demand for circular saw blades within the woodworking industry. As economies worldwide continue their urbanization and industrialization processes, the necessity for precision cutting tools in woodworking applications has witnessed remarkable growth. Circular saw blades have emerged as essential instruments, enhancing operational efficiency and precision across various woodworking processes.

This impressive growth trajectory is supported by insights derived from a comprehensive half-yearly comparative analysis presented by Future Market Insights (FMI). Key findings from the report illuminate the factors propelling this upward trend in the woodworking circular saw blades market, offering valuable perspectives for industry stakeholders and enthusiasts alike.

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Sales via various online platforms are gaining popularity, as these sites allow customers to select products based on their needs. To gain a significant market share, many retailers and distributors are focusing on offering their products through online platforms.

Increased use of furniture in the commercial and residential sectors, as well as the use of wood as a thermal and electrical insulator in the industrial and manufacturing sectors, are expected to boost sales of woodworking circular saw blades, with the timber and wood processing industries performing admirably.

Asia Pacific Offering Lucrative Opportunities for Market Growth:

The demand for woodworking circular saw blades is expected to grow significantly in the coming years, owing to brisk residential and commercial construction activities in Asia Pacific developing countries. During the forecast period, rising demand from the furniture industry is expected to drive saw blade sales.

The growing popularity of wooden furniture and timber for construction in countries such as India, China, and South Korea is expected to drive the growth of the woodworking circular saw blades market.

More Valuable Insights on Woodworking Circular Saw Blades Market:

The research report provides a thorough assessment and future forecasts of the woodworking circular saw blades market on the basis of five primary segments listed as follows: mode of operation, blade type, diameter type, distribution channel, and end-use industry.

The report provides comprehensive information about global market sizing, key market manufacturers, and regional perspective on market. The report also provides important dynamics of the woodworking circular saw blades market. The scope of the research includes woodworking circular saw blades with carbide tips or complete carbide blades utilized in the woodworking industry.

Woodworking Circular Saw Blades Market: Competition Overview

The global woodworking circular saw blades market is fiercely competitive, with a large number of organised and unorganised players active in the global market. The global woodworking circular saw blades market is dominated by Freud Tools, Robert Bosch GmbH, Stanley Black and Decker, and Homag Group. Key players are concentrating on producing diverse blades for efficient performance in various operations.

Market Segments:

By Mode of Operation:

• Woodworking Circular Saw Blades for Stationary Machines
• Woodworking Circular Saw Blades for Hand Machines (Power Tools)

By Blade Type:

• Framing Blades
• Rip-cut Blades
• Crosscut Blades
• Plywood Cut Blades

By Diameter:

• Woodworking Circular Saw Blades Less than 100 mm
• Woodworking Circular Saw Blades 100-200 mm
• Woodworking Circular Saw Blades 200-300 mm
• Woodworking Circular Saw Blades More than 300 mm

By Distribution Channel:

• Online Sales of Woodworking Circular Saw Blades
• Offline Sales of Woodworking Circular Saw Blades

By End-use Industry:

• Timber
• Wood Processing
• Furniture & Carpentry
• DIY

By Region:

• North America Woodworking Circular Saw Blades Market
• Latin America Woodworking Circular Saw Blades Market
• Europe Woodworking Circular Saw Blades Market
• East Asia Woodworking Circular Saw Blades Market
• South Asia & Pacific Woodworking Circular Saw Blades Market
• Middle East & Africa (MEA) Woodworking Circular Saw Blades Market

Author:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

A recent study by FMI has forecasted a remarkable trajectory for the global emulsion explosive market, projecting a robust Compound Annual Growth Rate (CAGR) of 5.2%. By 2033, the market is anticipated to exceed a valuation of USD 4,587.91 million, building upon its already substantial worth of USD 2,763.49 million as of 2023.

Emulsion explosives (EE), with a history spanning over fifty years, have undergone significant advancements, continually refining their production technologies. This evolution has facilitated widespread adoption across various sectors, underscoring their versatility and transformative impact on industries reliant on controlled detonations. Emulsion explosives have increasingly emerged as preferred alternatives to conventional energy sources in numerous applications, emphasizing their pivotal role in industries necessitating controlled explosions for various purposes. This ongoing evolution highlights the adaptability and efficacy of emulsion explosives, positioning them as indispensable assets in modern industrial operations.

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Within this landscape, the United States of America’s Emulsion Explosive market is earmarked for a 4.7% volume-based year-on-year expansion in 2022 within the North American realm. Notably, the US market’s trajectory remains consistent as it embraces a future marked by innovative product offerings and sustained growth. This trajectory is underpinned by a sophisticated economy and a consortium of prominent market participants.

A compelling facet emerging is manufacturers’ strategic focus on harnessing growth within the Latin American market. The region is poised to uphold substantial growth rates for the forthcoming decade. Latin America’s allure lies in its rich reservoirs of precious metals, including lithium, silver, and copper, captivating substantial investment from global mining conglomerates. As a result, there is a tangible anticipation of escalated demand for Bulk emulsion explosives in this sector.

In a broader context, a comparative analysis of the global landscape juxtaposed with the US market underscores the dynamism of this industry. The ascendancy of North America and Oceania as well as the strategic thrust towards Latin America collectively shape the industry’s trajectory. As the market surges ahead, propelled by diverse factors and strategic imperatives, it navigates a compelling evolution with ramifications that ripple globally.

The Report Also Highlights The Main Countries in Asia Accountable for Emulsion Explosive Market Growth:

Rising Indian mining industry will drive demand for emulsion explosives with a projected 5.7% CAGR. About 86% of India’s coal production comes from opencast mines, often utilizing bulk emulsion explosives. The nation’s explosive consumption stands at 550,000 tons annually. Additionally, surging construction projects like Transalpine railway tunnels, hydroelectric dams, and power stations are boosting explosive demand. By 2028, India’s market is set to reach approximately USD 159.2 Million.

China’s thriving construction sector is set to bolster demand for emulsion explosives, driven by a forecasted CAGR of 6.2% from 2022 to 2028. The nation, a dominant player in global steel, coal, and metallic mineral production, employs on-site mixed emulsion explosives for enhanced economic outcomes in mining. This explosive demand surge aligns with China’s ascent as the world’s leader in various minerals. As a result, the market is poised to attain a value of approximately USD 262.5 Million by 2028, propelled by the integral roles of the mining and construction industries in China’s dynamic economy.

Key Players Profiled:

• Crada International Plc
• Incitec Pivot Limited
• Sasol Ltd
• Orica Limited
• African Explosives Limited
• MAXAM
• Keltech Energies Ltd
• Yara International
• Austin Powder Manufacturing
• BME Mining
• Enaex
• Hanwha Corporation
• Titanobel
• Solar Group
• Nelson Brothers

Global Emulsion Explosive Market Segments:

By Product Type:

• Bulk Emulsion
• Cartridge Emulsion
• Recycled Oil Emulsion

By Application:

• Mining
  • Surface Mining
  • Underground Mining
  • Quarrying
• Others
  • Hard Rock
  • Air Blasting
  • Colliery
  • Maritime Blasting/Seismic
  • General Blasting
  • Tunneling

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• South Asia and Pacific
• East Asia
• Middle East and Africa

Author:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

The power transformer market is projected to grow at a compound annual growth rate (CAGR) of 5% from 2023 to 2033, starting with a global market value of USD 24.1 billion in 2023. According to Future Market Insights (FMI), the market is expected to surpass USD 39.3 billion by the end of 2033.

Power transformers are essential components of power grids, facilitating the efficient transmission of electricity between networks with minimal loss and frequency shift. In the years ahead, the demand for power transformers is anticipated to increase due to rising investments in the development of power grid networks and distribution channels aimed at expanding electricity access in rural areas.

The expanding use of transformers in residential and commercial applications, along with their cost-effectiveness, is boosting the demand for wet-insulated power transformers. Additionally, the market is set to benefit from research and developments that involve integrating wet-insulated power transformers with smart energy grids and installing solar power grids using eco-friendly coolants.

Key drivers of market growth include the increasing demand for energy and a growing emphasis on renewable electricity generation. The United States, as one of the world’s leading energy producers, remains a highly attractive market for power transformer manufacturers. Furthermore, the installation of smart grids and transformers, the upgrading of aging power transformers, and the expansion of renewable energy generation projects are expected to further propel market growth in the coming years.

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Key Takeaways:

• Between 2023 and 2033, the Indian market is expected to grow at an excellent 5% CAGR.
• Wet-type power transformer sales are predicted to exceed USD 20 billion by the end of 2033.
• The residential and commercial sectors are expected to account for more than 40% of overall revenue.
• The market increased at a CAGR of 4.6% over the last five years (2018 to 2022).
• The United States held a 20% market share in 2022.

“Several government programs aimed at installing technologically superior power transformers and modernizing existing power grids in order to improve energy efficiency and minimize losses are expected to boost consumer interest in the power transformer industry,” – says FMI Analyst.

Competitive Landscape:

Market companies are focused on creating and manufacturing green transformers in order to generate clean energy and acquire a substantial competitive advantage.

• The engineering, procurement, and construction (EPC) agreement for the 300 MVA power transformer endeavor at Sulaibiya station (W) in Al Jahra Governorate is expected to be granted in the third quarter of 2023 by Kuwait’s Ministry of Electricity, Water, and Renewable Energy (MEW).
• Ganz Transformers and Electric Rotating Machines Ltd. have begun a large repair program at the Esna Power Plant, one of Egypt’s largest hydroelectric assets, that will be finished by 2023.

Key Companies Profiled

• ABB
• Siemens
• General Electric
• Toshiba Corporation
• Schneider Electric
• Crompton Greaves
• Hyosung Power & Industrial Systems Performance Group
• Hyundai Heavy Industries Co. Ltd.
• Mitsubishi Electric Corporation
• Bharat Heavy Electricals Limited

Key Segmentations:

By Product Type:

• Core
• Shell

By Insulation Type:

• Dry
• Wet

By Phase Type:

• Single Phase
• Three Phase

By End Use:

• Residential & Commercial
• Utilities
• Industrial

By Voltage Type:

• 100-200kV
• 200-400 kV
• Above 400 kV

By Application Type:

• Generation Step-up
• Transmission

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

The global turbidimeter market is poised for substantial growth, projected to surpass a valuation of USD 952.1 million by 2029. With an initial year-end valuation of approximately USD 641.8 million in 2022, reflecting a robust growth rate of 5.6%, this marks the onset of a progressive trajectory.

Future Market Insights (FMI) forecasts a steady Compound Annual Growth Rate (CAGR) of 4.0% over the seven-year period from 2022 to 2029, signalling sustained expansion. Industries emphasizing precision, texture, and adherence to stringent cleanliness standards, notably in sectors such as food, beverage, and chemicals, underscore the critical importance of product quality. Moreover, as regulatory standards for water quality become increasingly stringent, there is a rapid uptick in demand for various types of turbidimeters to ensure compliance.

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FMI’s insights also shed light on the geographic distribution of this market. North America is expected to take the lead, driven by a higher concentration of water treatment plants in the region. Meanwhile, Europe boasts a substantial share as well, surpassing North America in the Global Turbidimeter market. Together, these two regions are projected to collectively hold a revenue share of 41% in the global market by the conclusion of 2029.

This data underscores the critical role that turbidimeters play in a world where the purity and quality of water are paramount. As industries continue to prioritize adherence to rigorous quality standards, the turbidimeter market is set to play an increasingly vital role in ensuring that products and processes meet the highest standards of cleanliness and purity, safeguarding both consumers and the environment.

Quality maintenance is becoming a priority for various sectors that use analytical testing equipment, and turbidimeters are one of the preliminary equipment utilized for quality analysis. This would remain among the key factors pushing sales of turbidimeter at a global level.

Customers would be inclined towards online turbidimeters in the near future, as they are accurate, quicker, and thus, highly reliable. Moreover, online turbidity monitoring is possible for continuous flow systems with a high measuring range of up to 10,000 NTU.

Key Takeaways – Turbidimeter Market Study:

• Turbidity level of potable water has become a serious concern owing to contamination caused by toxic industrial waste and other pollutants. Strict measures are being taken for regulating turbidity levels of water.
• Various water treatment and effluent treatment plants (ETP) have been established in order to regulate turbidity and other parameters, which will fuel the growth of market.
• Increasing number of desalination plants in the Middle Eastern region is amplifying demand for turbidimeters.
• Handheld turbidimeters are gaining traction owing to their compact size and application in time-critical measurements. However, highly accurate analysis is still majorly conducted by benchtop turbidimeters, as they have a wider measurment range.
• Currently, sales of benchtop turbidimeters are relatively high in South Asia, because of more popularity of laboratory analysis in various industries.
• Prices of benchtop and handheld turbidimeters are comparatively low in East Asia than other regions, owing to the prominent presence of local manufacturers.
• Manufacturers are increasingly selling their products online to capitalize on features such as user-friendly interface, easy selection criteria, and price comparison.

Key Players Profiled:

• Thermo Fisher Scientific Inc.
• Danaher (Hach) Corp
• Emerson Electric Co
• Xylem Inc.
• METTLER TOLEDO
• Merck KGaA
• PCE Instruments
• Hanna Instruments Inc.
• Tintometer Inc.
• LaMotte Company

Market Segmentation:

By Portability Type:

• Handheld
• Stationary

By Application:

• On-field
• Off-field

By End Use:

• Wastewater Treatment
• Chemical & Materials
• Oil & Gas
• Pharmaceutical
• Pulp & paper
• Food & Beverages
• Research & Academia
• Others

By Region:

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

Author:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

The loader bucket market is poised for substantial growth in the forecast period spanning from 2022 to 2029, fueled by an increasing emphasis on recycling and waste management initiatives. Within this dynamic market, loader buckets emerge as pivotal tools, playing a crucial role in enhancing the efficiency of waste handling operations. The industry is dedicated to optimizing waste management processes, with loader buckets proving indispensable due to their versatile design and robust capabilities.

In today’s business landscape, heightened environmental concerns have prompted a significant shift in consumer behavior towards waste recycling and management practices. This transformative trend underscores the paramount importance of recycling initiatives and waste management strategies in addressing urgent environmental challenges. In this context, the role of material handling equipment, particularly loader buckets, cannot be overstated. They play a pivotal role in a diverse array of activities, including landfill operations and other critical processes integral to effective waste management. The anticipated growth of the loader bucket market reflects its crucial role in supporting the evolving landscape of sustainable waste management practices.

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Undoubtedly, the construction industry stands as a cornerstone in propelling the momentum of the loader bucket market, poised to secure substantial orders on a global scale. While the mining sector within Europe is undergoing a phase of resurgence, it is anticipated that the region will exhibit measured growth within the loader bucket market. This growth is underpinned by the advantageous dynamics of end-use industries and an escalating emphasis on effective waste management strategies.

With a keen eye on optimizing operational costs and ensuring longevity, loader bucket manufacturers are resolutely focused on presenting solutions that offer both low lifecycle expenditures and unwavering durability.

In the current landscape, it’s noteworthy that the construction and mining domains stand as the principal catalysts driving the utilization of bucket loaders. Nonetheless, a forthcoming surge is on the horizon, stemming from the waste management sector. This anticipated boost underscores the evolving significance of loader buckets in addressing the intricate challenges posed by waste management.

Key Highlights from the Loader Bucket Market:

• Robust investments in construction ventures, both public and private, are poised to drive global material handling equipment sales, encompassing bucket loaders and related components.
• The United Nations identifies an imperative for Asia Pacific, necessitating a remarkable $1.5 trillion infrastructural investment to ensure sustainable development, aligning with 5% of the region’s 2018 GDP.
• Notable trends in mining spotlight surface mining for ferrous minerals and coal as the primary demand generator for loader buckets. Key hubs include the Americas and Asia Pacific.
• Versatile general-purpose buckets take the lead, showcasing adaptability across tasks such as excavation, mining, grading, and more, capturing a substantial one-third of the loader bucket market globally.
• Waste management’s global significance fuels the proliferation of recycling facilities. Countries like the U.S., Germany, South Korea, and China offer a burgeoning market for loader buckets alongside expanding waste recycling initiatives.

Key Players Operating in the Industry:

Major players in the loader bucket market are Komatsu Ltd., Liebherr, Volvo AB, Caterpillar Inc., Doosan Corporation, Deere & Company, J C Bamford Excavators Ltd., Wacker Neuson Group, and Takeuchi Mfg. Co, Ltd., ESCO Group LLC, Kenco Corporation, and VTN Europe S.p.A, among others.

Market Analysis by Category:

By Capacity:

• Below 1 yd3
• Between 1 yd3 to 5 yd3
• Above 5 yd3

By Bucket:

• General Purpose Buckets
• Light Material Buckets
• Heavy Duty Buckets
• Multi-purpose Buckets

By Loader:

• Excavators
• Wheeled Backhoes
• Wheeled Loaders
• Skid Steer Loaders
• Others

By Application:

• Rock
• Woodchip
• Coal
• Sand & Gravel
• Waste Handling
• High Dump

By Fit Type:

• First Fit
• Re-Fit

By End Use:

• Construction
• Mining
• Waste Management & Recycling

By Region:

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

Author:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

According to FMI’s comprehensive analysis, the oil & gas fittings market is poised for a robust growth trajectory, with a projected valuation of USD 1,675.4 million by the year 2029, boasting a consistent Compound Annual Growth Rate (CAGR) of 3.4% from 2022.

FMI’s in-depth study delves into the dynamic evolution of the oil & gas fittings market, underpinned by meticulous half-yearly comparisons. A significant driver of this anticipated growth is the notable surge in tender and contract awards for pipeline projects, particularly evident in emerging economies. This surge in demand aligns with the proliferation of new pipelines connecting countries across regions including China, India, the Middle East, and the ASEAN region.

These strategic infrastructure initiatives play a pivotal role in bolstering regional connectivity and facilitating the efficient transportation of oil and gas resources. Consequently, the demand for diverse oil and gas fittings is expected to witness a steady rise in the forthcoming years.

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The global oil and gas fittings market is set to receive a significant boost from the expansion of transcontinental pipelines, paralleled by the increasing consumption linked with GDP growth. This trend will lead to a surge in sales, driven by the growing opportunities in India for the procurement and bidding of new and replacement oil and gas fittings.

However, existing manufacturers are encountering a challenge posed by energy suppliers who are vertically integrating into the production of oil and gas fittings. This integration enables them to offer similar products at lower costs, resulting in intense competitive pressures within local markets and reduced profitability throughout the value chain. Such a practice adoption is detrimental to the overall market growth.

East Asia Region Projected to Witness Bolstering Growth:

The East Asia region is poised for robust growth in the global oil and gas fittings market. While North America is expected to maintain a significant market share due to upcoming installation projects for oil and gas fittings, the East Asia market, particularly led by China, is projected to experience substantial expansion during the forecast period from 2019 to 2029.

China’s prominence in this growth can be attributed to its rapid increase in onshore drilling endeavors and the proliferation of oil and gas pipeline projects. Furthermore, Africa emerges as a promising avenue for oil and gas fittings manufacturers to secure new contracts and ventures throughout the forecast timeframe.

The growth of the oil and gas fittings market is not only influenced by regional dynamics but also by macroeconomic factors such as crude oil and natural gas production and consumption. Key countries’ oil and gas production data, the rise in new oil and gas pipeline projects, and contracts related to pipes, valves, and fittings (PVC) also contribute to the positive trajectory of the market.

Competitive Landscape:

Over the past few years, an increment in the number of acquisitions and expansion activities has been witnessed in the Oil and Gas Fittings market. Several key players are focusing on improving the product performance parameters for various applications. The emergence of various manufacturers had also been witnessed in global businesses, especially in India, the USA, and China.

Key Players:

• Anvil International
• AVK UK Ltd
• B.O.P Products LLC.
• Bonney Forge Corporation
• FitTech Industries Pvt. Ltd.
• Gelbach UK Ltd
• Grupo Cuñado
• Guezco Manufacturing Inc.
• Hy-Lok USA, Inc.
• ICARUS SA
• JVS Engineers, among others.

Key Segments Covered:

By Product Type:

• Tees
  • Studded Tees
  • Flow Tees
• Flanges
  • Blind/Test
  • Companion
  • Weld Neck
• Adapters
  • Bottom Hole Test Adaptors
  • Double Studded Adapters
• Male Pins
• Studded Crosses

By Working Pressure:

• Less than 1000 psi
• 1000 – 2000 psi
• 2000 – 3000 psi
• 3000 – 4000 psi
• 4000 – 5000 psi
• Above 5000 psi

By Operation:

• Upstream
• Midstream
• Downstream

By Material Type:

• Carbon Steel
• Stainless Steel
• Alloy Steel
• Fiberglass
• Composite
• Others

By Application:

• Onshore
• Offshore

By Region:

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

Author:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

The robotic grippers market is estimated to secure a valuation of USD 1.7 Billion in 2023 and is projected to reach USD 4.3 Billion by 2033. The market is estimated to thrive at a CAGR of 9.4% during the forecast period.

Key Takeaways  

• Historically, the market captured a valuation of USD 1 Billion in 2018.
• The United States is anticipated to secure a CAGR of 45.3% in the global market during the forecast period.
• India is estimated to predict a CAGR of 4.0% during the forecast period.
• With a CAGR of 1.2%, Japan is significantly fueling the global market by 2033.

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How are Developing Countries Performing their Role in the Global Market?

Developing countries are capturing huge revenue in the global market. The growing economies and technological advancements in developing countries such as China, South Korea, and India drive the market size. These countries are heavily investing in research and development activities such as low-cost robotic grippers with highly skilled specialists.

In China, industrial robots and their component production is growing rapidly. The Chinese government is supporting the expansion of the robotic industry by adding funds and several policies. The key companies in China include Zimmer Group, Estun Automation, Siasun, and Festo.

In India, manufacturers focus on developing unique, low-cost products to attract end users. The robotic grippers market growth is still at stage one in India, but the key companies are significantly achieving their goal with potential growth. The manufacturing, logistics, and healthcare sectors are gaining huge popularity while rapidly increasing the adoption of the robotic gripper.

South Korea also enhances the robotic sector through its research and development activities. The key companies are collaborating with research institutions to develop advanced robotic grippers in the country. The start-ups are coming up with a strong presence in the market with cutting-edge robotic grippers. The government also supports them in enhancing the robotics industry through their funding programs.

Which Strategies are Helping Key Players in the Global Market?

The strategies in the global market are as follows:

• Focus on Sustainability: The key companies are developing environment-friendly and sustainable products. Their focus on sustainability improves product quality and attracts end-users. This step is estimated to increase the demand for high-quality and advanced robotics grippers.
• Strong Distribution Channel: The key players maintain their strong network to reach relevant consumers and increase brand value and product sales.
• Strategic Partnerships: The companies are partnering with other essential players to expand their business and stay ahead of competitors in the market.
• Technological Advancements: The key players are innovating products by adopting advanced technologies. Such as cutting-edge, artificial intelligence, and others. Through these technologies, they make excellent, high-quality products to fulfill consumers’ requirements.

Recent Developments in the Market are:

• In 2021, OnRobot announced its new launch of the electric vacuum gripper VGP20. This gripper was designed to provide high-speed packaging with its customized vacuum feature.
• In 2021, Zimmer Group announced its new gripper, GEP4000. The gripper is designed for heavy loads and provides high gripping force in the manufacturing and automotive sectors.

Prominent players in the robotic gripper market:

• SCHUNK GmbH & Co. KG
• Soft Robotics, Inc.
• Piab AB
• Applied Robotics
• ABB Limited
• Grabit Inc.
• Yaskawa America, Inc.
• J. Schmalz GmbH
• Festo AG & Co. KG
• Onrobot
• Bastian Solutions
• Coval Vacuum Technology Inc.
• Brenton Engineering
• Kuka Roboter GmbH
• Destaco

Robotic Gripper Market Segmentation:

By Product Type:

• Jaw Gripers
• Angular & 3-jaw Grippers
• Ring Grippers
• Needle Grippers
• Vacuum Cups
• Magnetic Grippers
• Special Purpose Grippers
• Others

By Application:

• Material Handling
• General Assembly
• Inspection & Others

By End Use:

• Automotive & Transportation
• Electronics & Semiconductors
• Food & Beverages
• Chemicals & Pharmaceutical
• Logistics
• Healthcare
• Others

By Region:

• North America
• Europe
• Latin America
• Asia Pacific
• The Middle East and Africa

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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