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Europe Destination Wedding Market – Business Opportunities and Global Forecast to 2032

The demand in Europe destination wedding market is expected to rise at 10.4% CAGR during the forecast period (2022-2032). Sales in the market are projected to reach a valuation of US$ 29,672 Mn by 2032. With rising preference for international and customized wedding, growth in the market is poised to expand by 2x over the upcoming decade.

Key factor propelling the growth in the market is rising preference among couples plan the destination wedding to get an opportunity to spend with their dearest ones along with their wedding. The concept allows them to have good time together before and after the ceremony.

The destination wedding organizers take care of all the bookings right from ticket booking to organizing an event along with various other aspects such as food, accommodation, clothing and others. In addition, the destination wedding planners focus on consumer behavior and preference and assist at every step throughout the wedding. The planners try to provide the hazel free experience throughout the journey. Therefore, couples opt for destination wedding.

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Key Takeaways from the Europe Destination Wedding Market Study

In terms of guest capacity, 100 & above guest capacity in the Europe destination wedding market holds a share of 66% in the overall market.
Based on inclusion & activity, the food service holds a significant share of 39% of the overall Europe destination wedding market.
By famous destinations, Italy is the most preferable destination with 17% of the market share, followed by Santorini.
Based on booking channel, in person booking segment is expected to witness fastest growth over the upcoming decade

“Europe destination wedding planners are formulating strategies for the expansion of their event line to cater to all types of wedding events. Key players are focusing on innovation in wedding plans to make them more special, customizable, budget-friendly, and enhance the experience of couples.” Says an FMI analyst.

Who is winning?

Leading manufacturers of Europe destination wedding are focused on aggressive promotional strategies, advertisements, and new product launches that have driven sales growth of Europe destination wedding market globally.

Major players present in the Europe destination wedding market are White Eden Weddings, FiestaSol, Tropical Wedding & Honeymoon, Magical Weddings, Sparkles & Bubbles, All Things Beautiful, Planned for Perfection, Peach Perfect Weddings, The Wedding Travel Company, LM Wedding Planner, Jennifer Fox Weddings, W Day, The Destination Wedding, Wedding Planner Roma & Studio Brzak Events, among others.

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Europe Destination Wedding Market by Category

By Guest Capacity:

Below 100 Guests
100 & Above

By Season:

High Season
Mid-Season
Low Season
Mid-Peak Season

By Inclusion and Activity:

Accommodation Services
Food Service
Butler Services
Other Services

By Types of Functions:

Pre-Wedding Ceremonies
Wedding Ceremonies
Reception
Bachelor’s Party
Other Types of Functions

By Nationality:

Domestic
International

By Booking Channel:

Phone Booking
Online Booking
In Person Booking

By Destination:

Italy
Porto
Paris
Amalfi Coast
Edinburgh
Santorini
Mallorca
Venice
Corfu
Dubrovnik

By Country:

Germany
France
United Kingdom
Austria
Switzerland
Poland
Rest of Europe

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Nepal Eco Trekking Market is Expected to Increase at a 3.6% CAGR in 2032 | FMI

The Nepal eco trekking market is poised to reach a valuation of US$ 835 million in 2022. Demand is projected to increase at a 3.6% CAGR during the forecast period.

It is done so with the guidance of experienced, skilled, and trained individuals. Employees of Nepali tour operators are encouraged to take an interest in maintaining the delicate balance of nature. The tourism sector, one of Nepal’s key businesses, has contributed 8% of the country’s GDP.

There was a significant employment bubble in the travel and tourism industry as a result of more trekking expeditions leading to more travel firms, expanding the demand for the Nepal eco trekking market.

The forest’s biodiversity, peaceful lakes, raging rivers, rare birds and animals, and other features draw numerous hikers from other countries, expanding the demand for Nepal eco trekking. Eco trekking is a pressing topic and one of the tourism industry’s fastest-growing subsectors.

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Moreover, particularly in poor nations like Nepal, ecotourism is being used as tools to promote sustainable development. Ecotourism places a strong emphasis on using techniques that are favorable to the environment when hiking.

Up to one million job possibilities have been supported and contributed to by the tourism sector in Nepal, with the well-known Annapurna Circuit hiking route being one of the most lucrative regions. More than 1.35 million jobs are anticipated to be created by the Nepal eco hiking business by 2032.

Key Take away from the industry

Nepal eco trekking market is expected to have a value of US$ 1200 million by 2032, with a CAGR of 3.6%.
Of all the trip kinds available in Nepal’s ecotourism industry, package visitors are believed to represent the relative highest value share.
Internet reservations are thought to make up a sizable portion of the market for sustainable trekking in the Nepali tourism industry. Travelers prefer online booking, since it is convenient and offers more specials and discounts.
The estimate indicates that middle-aged people between the ages of 26 and 35 continue to trek the most.
The foreign tourist sector is likely to continue to do well during the anticipated time period in the tourist type category.
The Nepal administration is actively implementing a new strategy and plan to make the country sustainable, and has a strong commitment to sustainable tourism.

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“Nepal is abundant in natural wonders, treasures, and aesthetic appeal. Trekking in Nepal consequently has a bright future if it is planned well.” Says an FMI Analyst.

How do key players contribute to the Nepal Eco Trekking Market Share?

To promote a positive image to the market, taking into account that contemporary visitors place a bigger priority than ever before on eco-friendly and sustainable activities.

Leading companies in the sustainable tourism sector in Italy include Nepal Eco Adventure Pvt.Ltd, Eco Holidays Nepal, Himal Eco Treks Pvt. Ltd. Mountain Eco Trek &ExpeditionPvt. Ltd., Adventure Nepal Eco Treks Alpine Eco Trek & Ex Excellent Himalaya, Trek and Expedition Pvt. Ltd, Adventure Challenge Center, Access Nepal Tour & Trekking, Adventure Connexion Pvt. Ltd, Nepal Gateway Trekking Pvt. Ltd., Nepal Holiday Treks and Tours Pvt. Ltd, Yeti Trail Adventure, etc. are among others.

Recent Developments

In order to enhance tourism in Nepal, prominent firms such as Nepal Eco Adventure Pvt. Ltd. are totally devoted to providing the highest caliber of services to its customers.
Eco Holidays Nepal provides a full range of adventure sports, such as hot air ballooning, rafting, bungee jumping, jungle safaris, and paragliding.

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Nepal Eco Trekking Market by Category

By Booking Channel:

Phone Booking
Online Booking
In-Person Booking

By Tourism Type:

Domestic
International

By Tourist Type:

Independent Traveller
Tour Group
Package Traveller

Consumer Orientation:

Men
Women

By Age Group:

15-25 Years
26-35 Years
36-45 Years
46-55 Years
66-75 Years

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Marine Bearings Market Industry Overview Research Report

The global marine bearings market is expected to be worth US$ 8543.0 million by 2032, up from US$ 5622.0 million in 2022, with a CAGR of 4.3 % over the forecast period.

The marine bearings are critical in any marine vessel, whether it is a luxury cruise ship or any other ship used for transportation or a warship to protect the nation’s water borders. This factor is likely to have an impact on the growth of the marine bearings market between 2022 and 2032.

Marine bearings are primarily used to support the engine in the transmission of power and load. As a result, the market size for marine bearings is expected to grow.

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Marine Bearings is of critical importance in any marine vessel whether it is a cruise ship with full of luxury and comfort or any other ship which is used for transportation or a warship to protect the water boundaries of a nation. Its prime application is to provide support to the engine in transmission of power and load.

To prevent condition, marine bearings specifically made using material and process that suits the harsh under water environment is used. Marine bearings are specifically designed for this type of conditions and are made from fiber reinforced composite, nitrile rubber lining, Brass shell nitrile rubber lining, non-metallic phenolic nitrile rubber lining, other polymers etc. These bearing are corrosive resistant and are stable even in salt water and also provide superior reliability even at extreme water temperature with limited lubrication requirement. Long-operational life is a prime criterion for selection of bearing

Marine Bearings Market: Market Dynamics

Increase in trade among the nation in the present era of globalization can be considered as the major factor behind the growth of shipping and marine industry. The rise in water-based logistics activities has led to a continuous increase in sea traffic which has fuelled the demand for ships & cargos in the past few years and it is expected to boost the shipbuilding industry in the forecast period, which in turn will create demand for marine bearings market over the forecast period.

Also, Growth in travel, transportation and leisure sector is an important driving factor associated with the marine bearings market. Repair and maintenance demand of components is also expected to create future market opportunities in the aftermarket segment and expected to leverage market growth. Significant opportunities exist in the market for technological advancement of products so as to provide better performance and enhanced features.

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Marine Bearings Market: Regional Outlook

Asia Pacific is expected to remain the most attractive market for marine bearings. It has a high demand for marine bearings driven from the growing ship building industry in this region. However, in terms of production Europe and North America is expected to hold major share of the marine bearings market. Where North America is expected to be a prominent market in terms of demand. Rest of the world market is estimated to account for a relatively small share of the marine bearings market.

Marine Bearings Market: Market Participants

Some of the examples of the market participants operating across the value chain of the global Marine Bearings Market are:

Some of the examples of market participants in the global Marine Bearings Market, identified across the value chain are,

TENMAT Ltd
Trelleborg Sealing Solutions
Thordon Bearings Inc.
Orkot® Marine
Teignbridge Propellers International Limited
VERSITEC MARINE
HORN International AS
SKF group
Chatfield Engineering Limited
CJR Propulsion.
CRAFTED WITH CRAFTSMAN MARINE
ELCIHE RADICE Spa
Italian Propellers S.r.l.
Lewmar Limited

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.

Marine Bearings Market:Market Segmentation

Global Marine Bearings market can be segmentedon the basis of type of vessel as;

Merchant marine vessel
Navy Marine Vessel
Yachts Marine Vehicle

Global Marine Bearings Market can be segmentedon the basis of area of typeas;

Main Bearing
Top End Bearing
Bottom End Bearing
Thrust Pad bearing
Pedestal bearing

Global Marine Bearings Market can be segmentedon the basis of material as;

Lead Bronze Bearing
Bi-metal Bearing
Tri Metal Bearing
Others

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

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Freeze Drying Market expected valuation of around US$ 2.5 Bn by the year 2032 | Future Market Insights

According to Future Market Insights’ most recent industry report, the global freeze drying market was valued at approximately US$ 1.0 Bn in 2021 and is expected to rise at a CAGR close to 8.5% over the forecast period, with an anticipated worth of around US$ 2.5 Bn in 2032.

Freeze drying often referred to as lyophilization, is a method that uses low pressure and sublimation to remove water from a material in the form of ice. This technology has numerous applications in the manufacture of high-quality food and pharmaceuticals.

Despite its popularity, substantial research on freeze-drying is continually being carried out in order to enhance the process variables for specific applications, enhance product features through pre-treatments, and minimize energy costs and process time.

The major goal of the freeze-drying procedure is to ensure consistent product quality not just within a batch but also between batches. As a result, during freeze-drying, product temperature becomes a crucial product quality aspect. When the product has the same thermal history throughout the batch, from batch to batch, as well as throughout lab scale, pilot scale, and production scale dryers, consistent product quality is ensured.

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The market has grown as a result of factors like the rapidly expanding pharmaceutical and food processing industries. The market is projected to grow as consumers become more aware of the product’s benefits, such as improved desiccant drying and air-drying efficiency.

Key Takeaways from Market Study

Dryers are the leading segment as a product and hold approximately 7% market share in 2021, owing to the customer preference for nutrition from whole foods being supported by the fact that freeze-drying retains nutritional content better than other drying techniques.
Industrial-scale of operations holds a market share of around 6% in 2021. Because of the preservation of quality, freeze-drying is thought to be the best method for dehydrating food on an industrial scale.
Biopharmaceutical companies are the top distribution channel in the worldwide freeze drying market, and this trend is anticipated to continue with a projected CAGR of 7% over the forecasted years.
North America is considered as the leading region with a value share of 8% in 2021, owing to the presence of established biopharmaceutical companies in the region.

“Shifting consumer values, the rapid expansion of the pharmaceutical and food processing industries, and rising consumption of preserved foods are driving the global freeze drying market,” says an analyst of Future Market Insights.

Market Competition

The global market can be characterized as being extremely competitive and consolidated, with a few significant competitors controlling the industry. Additionally, they are investing heavily in R&D to create novel solutions and acquire a competitive edge. To obtain a competitive edge, numerous businesses are engaging in mergers and acquisitions and deploying cutting-edge technologies.

Key Companies Profiled

Azbil Corporation
Zirbus Technology GmbH
HOF Sonderanlagenbau GmbH
Millrock Technology, Inc.
Fr
MechaTech Systems Ltd.
SP Industries, Inc.
Martin Christ Gefriertrocknungsanlagen GmbH
Cuddon Freeze Dry
Neologic Engineers Private Limited

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Key developmental instances include:

Telstar, a division of the Azbil Group, in December 2020, developed a new line of GMP freeze-dryers with a modular design. The new series of lyophilizers sold under the Lyozeta brand is a standardised version of its top-of-the-line GMP customizable freeze-dryers built to function aseptically.
In order to add two HOF horizontal plate freeze-thaw machines to Sartorius’ product line and offer customers a full selection of relevant freeze-thaw equipment and consumables, a partnership between Sartorius and HOF Sonderanlagenbau was announced in December 2021.

Key Market Segments Covered in Freeze Drying Industry Research

By Product:

Dryer
- Tray-style dryers
- Rotary Freeze Dryers
- Manifold Freeze Dryers
Accessories
- Drying Chamber
- Vacuum System
- CIP (Clean-in-place) Systems
- Other Accessories

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By Scale of Operations:

Pilot-scale
Laboratory-scale
Industrial-scale

By Distribution Channel:

Biopharmaceutical Companies
Food and Beverage Companies
Academic and Research Institutes
CRO & CMO
Hospitals
Research Laboratories

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Ecotels Tourism Market is Estimated to Increase at a Robust 12% CAGR in 2022-32 | FMI

The ecotel tourism market is expected to reach US$ 470 Billion in 2022. As per the report, sales are forecast to increase at a robust 12% CAGR, with the market valuation reaching US$ 1459.75 Billion by 2032.

The Ecotel is a new concept in hospitality that claims to work for environment preservation and protection. Hotels must have to pass a detailed inspection and satisfy standard criteria designed by environmental authorities to become eco-certified.

The Ecotel certification is based on five key areas – water conservation, energy conservation, employee environmental education, solid waste management, and environmental commitment. The Ecotel certification enables the hotel to become sustainable and green by involving the total value chain of architects, suppliers, employees, owners, operators, and guests.

The Ecotel is a hallmark representing environmentally sustainable hotels, initiated by HVS, a global consulting giant in the hospitality sector. While most of the certifications pertaining to environment sustainability emphasize on building physical structures and hotels, Ecotel focusses more on the operational part of the hotels.

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Sustainable tourism is a broader concept; it covers all types of destinations and travel, from remote forests to bustling cities and from backpacking to luxury.

Ecotels- A Way to Green Sustainable Tourism: Drivers

The concept of green tourism is becoming popular globally and this is expected to drive the market for Ecotel certification shortly. Most of the tourists and travellers across the globe are aware of the concept of Ecotel hotels. Hotel guests are becoming more conscious about environment problems, and many among such guests have started considering these problems while making a choice for accommodation.

These tourists like to contribute in the act of environment preservation. Ecotels are the trend setters in the tourism and hospitality industry, where the hotel guests want to participate in the green practices. The procedures and standards laid by eco-friendly Ecotel hotels are being implemented by most of the tourism wings such as resorts, hotels, restaurants, industrial catering, travel and trade, motels, etc. All these tourism wings encourage the guest participation as well, which is expected to generate awareness about the Ecotel hotels and sustainable practices.

In such Ecotel hotels, the concept of reduce, reuse and recycle is strictly applied to water management. The usage of electricity is also reduced by the use of LED lamps, green button, fussy logic systems, etc. The rising awareness about global warming and other environmental ill effects among the tourists is generating the demand for Ecotels.

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Ecotels- A Way to Green Sustainable Tourism: Restraints

It is estimated that the construction cost of Ecotel hotels is approximately 10% – 15% higher than regular hotels. However, Ecotels try to consistently demonstrate a focussed effort on waste reduction and increased operational efficiency. The extra features such as the green button, building management systems, sewage treatment plant, CFL and LED lamps, de-super heater, cool deck, fly ash bricks, vermicompost pit, etc.

have to be incorporated during the initial stage of construction. This adds on to the overall construction cost of the hotel. However, some leading global players are investing heavily in Ecotel hotels anticipating the long-term savings and related benefits.

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The tag of Ecotel hotels is expected to attract travellers and tourists who believe in the concept of responsible tourism. The strict environmental regulations and rules can act as a challenge for the construction of Ecotel hotels in environmentally sensitive areas as these hotels need to be constructed keeping in mind the eco norms of the local area.

Ecotels- A Way to Green Sustainable Tourism: Key Regions

The Ecotels is an exclusive group of hotels, international inns, and resorts that define the concept of responsibility towards the environment in the hospitality industry. This collection started in 1994 with the world’s first Ecotel certified hotel named as the New York Vista Hotel. Few of the Ecotel service providers include Hilton Tokyo Bay in Japan, The Orchid in Mumbai, The Benjamin in U.S., Lapo Rios in Costa Rica, etc.

The Orchid hotel is Asia’s first Ecotel five star hotel located in Mumbai, India. Ecotel members realise great benefits as there is improvement in the value of the business owing to heightened exposure in the market, better staff morale and good control of operational expenses. Ecotel hotels also serve various tradition following eco-tourists, business travellers and Fortune 500 companies that have advanced environmental programmes as an integral part of their corporate cultures.

This comprehensive report equips readers with lucid information and analysis on the sector. Future Market Insights’ experienced travel and tourism analysts bring to you accurate and unbiased information to help you make crucial decisions with confidence.

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Navigation, Imaging and Positioning Solutions Market – Major Revenue Gains are Expected by 2032

Future Market Insights upcoming report on global Navigation, Imaging and Positioning Solutions market uncovers hidden opportunities and potential threats. The report gives an incisive coverage on the Navigation, Imaging and Positioning Solutions market through a detailed segmentation on its key growth drivers, opportunities, restraints and challenges expected to prevail the market in the upcoming years. According to FMI, the industrial automation industry is expected to have a positive outlook through 2022 and beyond.

Navigation, imaging, and positioning solutions are based on connective technologies such as global positioning system (GPS), magnetic positioning simultaneous localization and mapping (SLAM), WiFi, radio-frequency identification (RFID), and Bluetooth low energy (BLE) beacons.

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Increasing usage of machines and demand for high quality products in various industries coupled with installation of smart devices in the machinery are some of the factors propelling the growth of Navigation, Imaging and Positioning Solutions market in industrial automation industry. Industries are implementing the automation to increase the productivity and reduce labor costs. FMI provides detailed insights about the industry for the market players to craft their long-term strategies to maintain the competitive edge in the industry.

According to the FMI’s report, the Navigation, Imaging and Positioning Solutions market is projected to record a CAGR of xx% over the forecast period. To receive the detailed insights about the Navigation, Imaging and Positioning Solutions market, our experts relies on the primary and secondary research, and various wide range of data set gathered from organic and inorganic sources to provide estimates for the upcoming decade.

Understanding the Impact of Covid-19 on Industrial Automation Industry

The COVID-19 outbreak has been posing staggering challenges for the industry. Like other industries, the industrial automation industry has been particularly affected due to the lack of equipment and availability of the products. Furthermore, dearth of labor, factory closures, and supply restrictions induced by the pandemic crisis resulted in slight setback in 2022.

Lack of human assistance and key player’s hesitation in investing for high-end machineries during the pandemic has negatively impacted the industrial automation industry in 2022. However, with relaxation in lockdown, the Navigation, Imaging and Positioning Solutions market has picked up the pace.

The FMI’s recent report talks about the market scenario in the chapter on the Covid-19 impact analysis to aid the market players for the upcoming years. The report gives a detailed market analysis surrounding the market condition and its impact on the Navigation, Imaging and Positioning Solutions market.

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Key Questions Answered in the Report

What are the key trends and challenges that will affect global Navigation, Imaging and Positioning Solutions market in upcoming years?
What are the factors that will influence the Navigation, Imaging and Positioning Solutions market demand?
Which region will be the most lucrative for Navigation, Imaging and Positioning Solutions market throughout the forecast period?
How will evolving regulatory policies impact the market growth?
What is the impact of Covid-19 on the Navigation, Imaging and Positioning Solutions market?

Navigation, Imaging and Positioning Solutions Market: Segmentation

By Region

North America
Latin America
Western Europe
Eastern Europe
APEJ
Japan
Middle East and Africa

Detailed analysis on the geographical region and country wise insights are offered in the latest Navigation, Imaging and Positioning Solutions market report with established market players as well as incumbents in the region.

Comprehensive analysis of the regional markets offers exclusive insights on the market performance across geographies along with relevant graphs, figures, and list of tables.

Competitive Analysis

By Prominent Market Players

Topcon Positioning Systems INC
iXBlue
Trimble Navigation Limited
Sonardyne
Leica Geosystems
Kongsberg Maritime
NovAtel Inc.
BlackRoc Technology

With a detailed segmentation on segments and sub-segments, the FMI’s study offers the strengths, weaknesses, growth prospects and opportunities of each player. The report also includes important market study including the historical revenue prospects, pricing strategy, and marketing strategy adopted by these players in the Navigation, Imaging and Positioning Solutions market.

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Why Future Market Insights?

Comprehensive analysis on evolving purchase pattern across different geographies
Detailed insights of market segments and sub-segments for historical as well as forecast period
A competitive analysis of prominent players and emerging players in the Navigation, Imaging and Positioning Solutions market
Detailed information about the product innovation, mergers and acquisitions lined up in upcoming years
Ground breaking research and market player-centric solutions for the upcoming decade according to the present market scenario.

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Indonesia Faith-based Tourism Market is Estimated to Surpass US$ 292 Mn in 2022 | FMI

The Indonesia faith-based tourism market is projected to reach a valuation of US$ 292 Mn in 2022, with demand growing at a 11.3% CAGR over the forecast period.

Tourism has historically been closely linked to religion, which has served as a key motive for travel since the time of early pilgrimages associated with present travels to sacred destinations.

Religious architecture, rituals, festivals, and ceremonial events are important tourism attractions for both casual tourists and devout adherents of the many religious systems represented. Religious tourism has developed into a substantial component of the tourist niche market.

Domestic and international religious tourism activities for Muslims are offered in Indonesia. Umrah is the most common sort of pilgrimage performed overseas. However, the number of Muslims making pilgrimages to Mecca and Medina remains significantly lower than the number of people visiting holy sites in their own country.

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As a result, the chance to expand Muslim tourism in Indonesia is enormous, given that the percentage of Muslims is the highest when compared to the number of followers of other religions. In addition, public interest in following the trip is growing.

“Indonesia offers a kaleidoscope of experiences with its more than 17,000 islands, each with its own culture, and religion. Because of its recent quick expansion, halal tourism is a new tourist prospect that is garnering attention. Says FMI analyst.

Key Takeaways:

By booking channel, sales in the online booking segment is expected to grow at a CAGR of 0%.
In terms of age group, demand in the 46-55 range will remain high through 2032.
International tourists will continue to outnumber domestic tourists during the forecast period.
Religious and heritage tours tourism are expected to account for 34% of the total market share through 2032.

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Competitive Landscape

To increase sales, leading players in Indonesia faith-based tourism market are focusing on promotional techniques and publicizing renowned tourist spots in Indonesia.

Golden Rama Tours & Travel, Panorama Destinations, Kakaban Tours & Travel, Manta Dive, Flores Exotic Tour, The Seven Holiday, Gogonesia.com, H.I.S. Tours & Travel Jakarta, Chan Brothers Travel, Best Tour & Travel Indonesia, Avia Tour, Dwidaya Tour Mal Grand Indonesia, Smailing Tour, Wita Tour, Pan Travel, AntaVaya Group, Raptim Tours & Travel Indonesia, HOPE Travel among others are some of the key players operating in the market.

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Indonesia Faith Based Tourism Market by Category

Tourism Type:

Day Trips & Local Gateways
Museums
Pilgrimages
Religious and Heritage Tours
Others

Booking Channel:

Phone Booking
Online Booking
In Person Booking

Tourist Type:

Domestic
International

Age Group:

15-25 Years
26-35 Years
36-45 Years
46-55 Years
66-75 Years

Consumer Orientation:

Men
Women
Children

Tour Type:

Independent Travellers
Tour Groups
Package Travellers

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China Culinary Tourism Market is Expected to Expand at a 14.7% CAGR in 2022-32

The China culinary tourism market is poised to reach a valuation of US$ 5,405 Mn in 2022. Sales are projected to increase at a 14.7% CAGR in 2022-32

Culinary tourism is not only appealing to tourists but also contributes to the social, economic, and environmental development of a destination. Due to the increased demand for vegetarian and vegan foods, eateries are also attempting to provide these items in their menus.

Following the COVID-19 pandemic, social media platforms are being used to promote the culinary tourism sector in China. China’s wide range of delicacies and delicious cuisine is having a very positive impact on demand in the market.

People visit China to learn about its diversity, take in its rich culture, and savor the regional cuisine’s genuineness. Millennials and Generation Z are becoming the target audience for this sector.

“Growing interest in international cuisine among food bloggers, along with rising investments and initiatives by the government in China to support the cultural economy are some of the key trends expected to augment the growth in the market over the forecast period,” says an FMI analyst.

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Key Takeaways:

Based on tourist type, the influx of international tourists will remain high.
In terms of activity type, sales in the cooking classes segment will increase through 2032.
By booking channels, demand in the online segment is expected to rise at a CAGR of 5.0%.
Based on tour type, the independent traveler segment will gain traction at a considerable pace.
By age orientation, the 26-35 years’ segment will witness high demand.

Competition Landscape

Leading players in China’s culinary tourism market are focusing on promotional strategies and advertising popular tourist destinations in China to improve sales in the market.

Key players operating in the China culinary tourism market include Hello Hong Kong: Private & Small Group Tours, Lost Plate Beijing Food Tours, UnTour Shanghai Food Tours, Lost Plate Xian Food Tours, UnTour Beijing Food Tours, UnTour Shanghai Food Tours, Lost Plate Shanghai Food Tour, Discover Beijing Tours, Sunny Tours Shanghai, Withlocals, Dong Dong Tour, Catherine Lu Tours, Janvi Tours – Guangzhou Off the Beaten Path, Catherine Lu Tours Xi’an, Amazing Shanghai Trip, Lily’s Private Tours among others.

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China Culinary Tourism Market by Category

By Activity Type:

Culinary Trials
Cooking Classes,
Restaurants
Food Festivals
Others

By Booking Channel:

Phone Booking
Online Booking
In-Person Booking

By Tourist Type:

Domestic
International

By Tour Type:

Independent Traveler
Package Traveler
Tour Group

By Consumer Orientation:

Men
Women

By Age Group:

15-25 Years
26-35 Years
36-45 Years
46-55 Years
66-75 Years

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Low Voltage Motor Market In-Depth Analysis with Booming Trends Supporting Growth and Forecast 2032

The low voltage motors are extensively being used in several industries such as mining, food & beverages, oil & gas, automotive, packaging etc., driven by the profuse growth in industrialization and steadily rising demand for energy across the globe. These are the motors that run at voltages less than 1000 V and generate maximum power that aid to improve productivity, quality and save the energy.

Various motor efficiency legislations which have been enacted all over the world, are likely to drive the global low voltage motor market during the forecast period. According to these legislations, more expensive and more energy efficient motors are mandated to manufacturers.

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The global low voltage market is forecasted to grow with a single digit CAGR during the forecast period and is anticipated to hold a strong potential in coming 4-5 years. Most of the manufacturers are now focusing towards advanced technology and quality low voltage motors to enhance their production process which in turn had led to the increase in demand for the advanced low voltage motors.

Global Low Voltage Motor Market: Drivers & Restraints

With rise in technological advancement, increasing demand for machineries across the world and advantages offered by low voltage motors due to its efficient nature, the global low voltage motor market is anticipated to show the robust growth during the forecast period. The growing consumption of low voltage motors by end user industries will continue to drive the growth in low voltage market over the forecast period.

In addition, stringent motor efficiency legislation and retrofits due to aging equipment are expected to impact the global low voltage motor market in a positive way.

Global Low Voltage Motor Market: Regional Outlook

Depending on geographic regions, global low voltage motor market is segmented into seven key regions: North America, Latin America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. As of 2014, Asia pacific dominated the global low voltage motor market owing to the growing consumption of low voltage motors by automotive and electronics industry, in this region. In addition, China is the largest country market for low voltage motor in Asia Pacific and is poised to show strong opportunities for low voltage motors in near future. After Asia Pacific North America is projected to show the vigorous growth in global low voltage motor market, especially due to the increasing demand of low voltage motors in countries like US and Canada, during the forecast period.

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Global Low Voltage Motor Market: Market Players

Some of the major players operating in global low voltage motor market are ABB, TECO-Westinghouse Motor Company, Siemens, Hyosung Power and Industrial Systems Performance Group, Anhui Wannan Electric Machine, ATB Group, Leroy Somer, LEZ Ruselprom, Luan JiangHuai, NIDEC, Regal Beloit, Shandong Huali Electric Motor Group, GE Industrial, Toshiba International, WEG, VEM Group, etc.

The report covers exhaustive analysis on:

Low Voltage Motor Market Segments
Low Voltage Motor Market Dynamics
Low Voltage Motor Market Size
Low Voltage Motor Market Supply & Demand
Low Voltage Motor Market Current Trends/Issues/Challenges
Competition & Companies involved
Low Voltage Motor Technology
Low Voltage Motor market Value Chain

Regional analysis includes

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

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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Global Low Voltage Motor Market: Market Segmentation

On the basis of product type the global low voltage motor market is segmented into four types

On the basis of end use industry the global low voltage motor market is segmented into six types

Automotive
Mining
Electronics
Textile
Food & Beverages
Others

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India Sports Tourism Market is Anticipated to Reach at a US $ 37.64 billion in 2032 | FMI

The India sports tourism market size which currently values at US $ 9.46 billion in 2022, is expected to surge at an incredible CAGR of 14.8%, and is predicted to be valued at US $ 37.64 billion in 2032, as analyzed by the experts in Future Market Insights.

Over the past decade, there has been inception of league games like IPL, ISL, PKL etc. All these leagues have not only contributed towards an increasing follower pertaining to these games, but there has been an influx of both domestic and overseas tourists. This might well expand the demand for Indian sports tourism.

Sports tourism provides the host country with high media coverage. This coverage will cover not only the sporting event but also provide important information about the country’s cultural and entertainment locations as well as an overall country profile. Consequently, the India sports tourism market trends are expected to see an upward curve.

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There are big mainstream tour operators who set up a separate division to tap the potential of Sports Tourism. A new concept in India about a decade ago, Sports Tourism, has developed rapidly over the past five years. A large number of agents and tour operators are introducing interesting packages surrounding major sporting events. This is expected to have a positive impact on India sports tourism market trends.

The government has been actively taking steps to improve sports tourism in India since the last 5 years. Be it infrastructure development, allocation of funds, etc. the government has been involved in taking most of the right steps to see to it that the India sports market size increases in the coming future. Some of them include:

Increasing the sports budget from Rs 702 crores in 2014-15 to Rs 2216 crores 2019-20.
Encouraging towards inculcating a culture of sports right from the school level by launching Urban Sports Infrastructure Scheme and Khelo India Scheme.
Launched a National Sports Talent Search System in 2015, which provides financial assistance to state governments to identify and nurture prospective athletes between the age of 8 and 12.

Additionally, the development of online games like Dream 11, MPL etc. has ensured that people remain hooked to such games because of which they win huge amounts. This is expected to be a major driver for the India sports tourism market share.

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Thus, based on the insights provided by Future Market Insights, it is evident that “Increase in the Franchise games coupled with increasing involvement by the government to develop the infrastructure is expected to drive the India sports tourism market.”

Key Takeaways:

The valuation of India sports tourism market as on 2022 is US $ 9469 million.
In 2032, the anticipated valuation of the India sports tourism market is US $ 37646.36 million.
Based on the booking channel, online booking is the most preferred by the tourists.
The package tour has the maximum market share in the tour type segment of India sports tourism market.
Cricket is the most preferred sport in the India sports tourism market.
Active sports tourism is the most popular tourism type.
Based on the consumer orientation, men have the maximum market share.
Domestic tourists occupy the major chunk of the market based on the tourist type.
The age group of 26-35 has the highest market share in the age group segment.

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Competitive Landscape

Leading players operating in India and other country-based companies operating in India are focusing on expanding their businesses. Apart from that, the major players are looking at ways to enter into exciting collaborations with some major players in the hospitality industry to provide customer delight.

Some of the recent developments are:

Sports travel will be presenting the event TEAMS’22, which will be hosted by Oklahoma City CVB. The event is scheduled to be held from October 24-27 2022.
In July 2022, Village hotels, a group of more than 30 hotels across UK, has joined Expedia group’s Optimised Distribution programme to provide travellers with better room rates and more accurate content.

Market Segmentation

By Sports Type: