Market Research Blog

The global propylene carbonate market is anticipated to expand at a steady 6.3% CAGR over the forecast period between 2022 and 2032, finds Future Market Insights (FMI). Propylene carbonate is largely utilized as a solvent for the production of paints and coatings, cleaning solvent in the cleaning and degreasing industry, and as an electrolyte in Li-Ion batteries.

In recent years, companies are focusing on developing new materials with high purity levels at competitive prices. Propylene carbonate is utilized as a long-lasting and ‘green’ alternative for various chemical industrial solvents.

While due to its lower vapor pressure and negligible photochemical reactivity it is an effective substitute for toluene, acetone, NMP, and methyl chloride. Such aforementioned properties of propylene carbonate are expected to increase consumption concerning environmental regulations.

The worldwide propylene carbonate market is being driven by factors such as increased usage of propylene carbonate in industrial processes as solvents, increased demand for paints & coatings, personal care.

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Also, growing usage as a cleaning solvent in gas treating and petrochemical applications to boost the market. Propylene carbonate is extensively used in lithium-ion batteries to improve polarity by forming a solvation shell around lithium ions. It is also used in the production of cosmetics like lipsticks, mascara, eye shadow, and other similar items.

Regionally, the market is anticipated to be dominated by East Asia, which is expected to continue in the future evaluation period. Backed by the aforementioned factors, the global propylene carbonate market is projected to top US$ 463.7 Mn by the end of 2032.

“Over the forecasted period, sales of propylene carbonates are expected to be driven by the increased utilization in Li-ion batteries and paints & coatings. Meanwhile, propylene carbonate is environmentally friendly and has the potential to effectively replace other hazardous chemical solvents,” says an FMI analyst.

Key Takeaways:

• By product form, demand for aqueous propylene carbonate is expected to surge at a 4% CAGR over the forecast period.
• The lithium-ion batteries & electronics segment is anticipated to grow at 7.5% CAGR during the forecasted period.
• The personal care & cosmetics segment of the propylene carbonate market is anticipated to grow at a 7% CAGR through 2032.
• The propylene carbonate market in the U.S. is anticipated to reach 6% CAGR by the end of 2032.
• China will emerge as the most lucrative propylene carbonate market, with sales growing at a 2% CAGR over the forecast period

Competitive Landscape         

Key market participants in the global Propylene Carbonate market elaborated in the report include BASF SE, Huntsman International LLC., LyondellBasell Industries Holdings B.V., Shandong Shida Shenghua Chemical Group Co., Ltd., Linyi Evergreen Chemical Co., Ltd, SMC – Global and others are the leading players in the market

Key players operating in the global propylene carbonate market are focusing on increasing the utilization of propylene carbonate in paints & coating, personal care & cosmetics industries. However, some key players are focused to provide ultrapure propylene carbonate for li-ion batteries.

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More Insights into the Propylene Carbonate Market Report

In its latest report, FMI offers an unbiased analysis of the global Propylene Carbonate market, providing historical data from 2016 to 2020 and forecast statistics for the period 2022-2032. To understand the global market potential, its growth, and scope, the market is segmented based on Form (Aqueous and Pellet), By Application (Paints & Coatings, Cleaning & Degreasing, Personal Care & Cosmetics, Textile Dyeing, Lithium-Ion Batteries & Electronics, & Others) across six regions (North America, Latin America, Europe, East Asia, South Asia Pacific, And Middle East & Africa)

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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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The global wood preservative chemicals & coatings active ingredients market stands at US$ 218.5 Mn as of now and is expected to reach US$ 320.3 Mn by the year 2032 at a CAGR of 3.9% between 2022 and 2032.

Wood preservation chemicals, as the name suggests, render protection against fungi and insets that attack the wooden surface. There are several kinds of active ingredients used in wood preservative chemicals and coatings – like inorganic and organic ingredients.

Wood preservative chemicals & coatings active ingredients do improvise on wood’s life span by keeping it away from the environmental factors like UV rays, mechanical abrasion, and household chemical attacks.

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Indoor as well as outdoor applications are inclined towards wood-based products owing to the aesthetics revolving around them. As such, the requirements of wood-based products are expected to increase in residential buildings, educational institutions, hospitals, and offices.

Furniture vertical is expanding at a rapid pace all across the US, which is expected to catalyze the wood preservative chemicals & coatings active ingredients market in the forecast period. The US Census Bureau has stated that more than 87K establishments record ~US$ 120 Mn every single year and furniture industry has turned out to be worth US$ 30 Bn. As of the year 2019, furniture and furnishing store sales market was worth ~US$ 9 Bn.

Infrastructure expansion projects are witnessing a rising demand for treated wood due to inevitability of protection of furniture against insects and fungi. This is another factor driving the wood preservative chemicals & coatings active ingredients market.

Also, water-borne coatings are being increasingly used in Canada and the US. Plus, rising awareness regarding advantages of the environmentally-friendly products like wood is expected to take the entire wood preservative chemicals & coatings active ingredients market by storm in the near future.

At the same time, the fact that developed economies like France, Germany, and the US are subject to altering environmental rules as well as regulations with regards to wood preservative chemicals and coatings active ingredients can’t be ignored. Along these lines, Biocidal Products Regulation (BPR), CLP (Classification, Labelling and Packaging), REACH, and VOC’s are restraining the market. It has also been observed that wood preservative chemicals and coatings active ingredients release toxic odor, which is hazardous for animals as well as humans. These active ingredients also do not render any protection against tough weather conditions. This is another factor hindering the market. Future Market Insights has, with the help of its team of analysts and consultants, entailed these findings with insights in its latest market study entitled “Wood Preservative Chemicals & Coatings Active Ingredients Market”.

Key Takeaways from Wood Preservative Chemicals & Coatings Active Ingredients Market

• The US holds 17.3% of the overall market share and the status quo is expected to remain the same even in the forecast period due to consistent demand for water-borne coatings.
• The Asia-Pacific is expected to move at a significant pace in the wood preservative chemicals & coatings market due to rapid expansion in Japan, India, and China.

“Demand for eco-friendly products of décor to keep the hopes high for wood preservative chemicals & coatings active ingredients market”, says an analyst from Future Market Insights.

Competitive Landscape

• Lanxess AG, in January 2022, decided upon expanding the active ingredient preservative’s – preventol CMK’s capacity by 50%. It looks forward to invest $1 Mn Euros in its site based out of Krefeld-Uerdingen (Germany).
• Lonza Group AG, in March 2019, tabled 2 novel products as a part of its Proxel range – Proxel LSR and Proxel HBC.

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What does the Report Cover?

• Future Market Insights offers an exclusive perspective and various real-time insights on the wood preservative chemicals & coatings active ingredients market in its latest study, presenting historical demand assessment of 2016 – 2021 and projections for 2022 – 2032.
• The research study is based on active ingredient type (inorganic and organic (azoles (propiconazole, tebuconazole, cyproconazole, and likewise), and others), and by use class (UC ½ – indoor, UC 3 – outdoor, UC 4 – outdoor with ground contact, and UC 5 – marine).

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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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The global plastic market is set to witness an impressive growth rate of 3.7% over the forecasted years of 2022 to 2032. The plastic market size is anticipated to reach a valuation of around US$ 885 Billion by the end of year 2032 from the current valuation of US$ 695 Billion in 2022.

The main causes of the increased sales of plastic in several economies are the expanding for the ensuing need for ultralight constituents to increase automobile load capacity and decrease the cost of semiconductor devices. Compared to other materials, corrugated plastic has a specific gravity that is 85% lower providing for weight reductions of around 80% and component cost reductions of 30% to 50% when employed in the construction and automotive sectors.

The demand for plastic in infrastructure and building applications would be driven by rising government construction spending, notably in China and India. Additionally, the expanding need for metal substitutes drives an expansion of the use of engineering plastic or composite polymers across a range of sectors.

The plastic market key trends supported by the building industries is projected to decline as a result of strict rules regulating the use and recyclability of traditional plastic materials. In comparison to metal or wood, polymer fittings are often considered sustainable and ecofriendly that got hold of a considerable amount of global plastic market opportunities in the recent past.

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Key Takeaways from Market Study

• The overall growth of the global plastic market is estimated to be around US$ 190 Billion over the forecast decade covering the years 2022 to 2032, by following the average CAGR of 3.7%.
• The polyethylene product segment holds the major share of the plastic market that sums up to nearly 25% of the revenue share, while the acrylonitrile butadiene styrene compound or ABS product segment is witnessing the highest growth rate.
• The injection molding application segment contributes for almost 43% of the global revenue making it the largest application segment of the plastic market share.
• Packaging industry is the largest end use vertical commanding over 36% of the sales of plastic in the international market.
• In the current year of 2022, the US plastic market is figured out to be worth more than US$ 90 Billion.
• With a higher consumption of plastic end use products, Asia Pacific remains the most lucrative region for the global plastic market with a net share of 44%.

Competitive Landscape

Some of the well-known plastic market players are BASF SE, SABIC, Dow Inc, DuPont de Nemours, Inc, Evonik Industries, Sumitomo Chemical Co., Ltd., Arkema, Celanese Corporation, Eastman Chemical Company, Chevron Phillips Chemical Co., LLC, Lotte Chemical Corporation, Exxon Mobil Corporation, Formosa Plastic Corporation, Covestro AG, Toray Industries, Inc., and Mitsui & Co. Plastic Ltd. among others.

Recent Developments in the Global Plastic Market:

• In Ruwais, United Arab Emirates, Borouge opened its fifth polypropylene factory (PP5) in February 2022. By boosting polypropylene production, this development will let the firm to better service the construction, reusable innovative wrapping, and certain other manufacturing industries.
• ExxonMobil finished the beginning stages of a facility trial for a unique enhanced recycling method in Texas, United States, in February 2021. Plastic s crap will be converted using this procedure into the basic components needed to make polymers. This breakthrough demonstrates the business’s steps to enhance resource utilization and decrease environmental pollution.

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Plastic Market by Segmentation               

By Product :

• Polyethylene (PE)
• Polypropylene (PP)
• Polyurethane (PU)
• Polyvinyl chloride (PVC)
• Polyethylene terephthalate (PET)
• Polystyrene (PS)
• Acrylonitrile butadiene styrene (ABS)
• Polybutylene terephthalate (PBT)
• Polyphenylene Oxide (PPO)
• Epoxy Polymers
• Liquid Crystal Polymers
• Polyether ether ketone (PEEK)
• Polycarbonate (PC)
• Polyamide (PA)
• Polysulfone (PSU)
• Polyphenylsulfone (PPSU)

By Application :

• Injection Moulding
• Blow Moulding
• Roto Moulding
• Compression Moulding
• Casting
• Thermoforming
• Extrusion
• Calendering

By End-use:

• Packaging
• Construction
• Electrical & Electronics
• Automotive
• Medical Devices

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Europe water pumps market is expected to exhibit year-on-year (YoY) growth of 3.8% to total ~US$ 8 Bn in 2021. As per the study, the demand for water pumps in Europe will increase by 3.6% CAGR between 2021 and 2031.

By product type, axial and mixed flow water pump sales will grow by over 4.3% CAGR in overall Europe water pumps market. As of 2020, water pumps sales accounted between 53% and 55% of overall Europe pumps market.

Pump manufacturing is a thriving industry driven by both small and large enterprises in Europe. These end-use sectors are confronting rising energy conservation demand as well as far-reaching environmental issues in the fight against climate change.

Water and wastewater treatment has been the most receptive sector among the various industrial verticals in terms of adoption, with significant expenditures made and planned towards facility modernization, which includes asset monitoring and integration of industrial internet of things (IIOT).

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Several organizations have been actively upgrading their water treatment plants with smart pumps. As a next step, companies have planned to invest in IIoT based solutions that helps to acquire and interpret the data generated from these assets with power of algorithms and machine learning capabilities that aids to predict failures, increase productivity and drive innovation. However the degree of investment in IIOT is largely governed by the water sector’s legal framework.

Key Takeaways of Water Pumps Market Study

1. As per Future Market Insights, Germany, U.K. and Russia are key markets accounting for nearly half of water pumps sales in the Europe market value share in 2021.
2. The Water Pumps market in U.K. is expected to rise at nearly 2.8% CAGR over the forecast period. Overseas customers prefer manufacturing and engineering expertise of U.K. over other countries.
3. The value share of 2 HP water pumps is more than one-fourth of the Europe market. These high pressure pumps are used in agriculture and irrigation applications, easy to operate, can be suitable for potable purposes as well as the robustness and durability makes it preferred choice among the end-users.
4. Water pumps market is a highly consolidated with the top players holding nearly 65-70% of water pumps sales within Europe.

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“Studies and research have been conducted in recent years to offer improved energy-efficiency in water pumps. Energy and environmental concerns can provide an excellent foundation for pump application innovation and European pump manufacturers are leading the way in this field. EU legislation has mandated minimum energy efficiency requirements for clean water pumps and circulators, which is expected to positively affect the market growth,” says a Future Market Insights analyst.

During the forecast period, water pumps market is expected to be aggressively driven by automation. With the positive influence from industry 4.0 and the rising implications of quality management systems to enhance efficiency of operations and reduction of error rate, there will be surge in sales of Water Pumps and manufacturers are likely to generate higher revenues from Water Pumps.

Competitive Landscape

The market for Water Pumps in Europe is extremely consolidated, with the top players accounting for over 65-70% of the market in 2020. These market participants are vying to expand their geographic footprints by targeting new markets in European countries. They are integrating IOT enabled technology to track the runtime and optimize equipment efficiency. Some of the key players in the market include tier-1 companies such as Xylem Inc, Grundfos, Flowserve Corporation, Andritz Group, Ebara Corporation, KSB AG, Sulzer Ltd, Gormann Rupp, Franklin Electric and ITT Inc.

Key Europe Water Pumps Market Segments Covered

By Capacity:

• Upto 2HP
• 2-5 HP
• 5-10 HP
• 10-15 HP
• 15-20 HP
• 20-30 HP
• Above 30 HP

By Product Type:

• Centrifugal Pump
  • Single Stage
  • Multi Stage
  • Axial & Mixed Flow
  • Submersible
  • Circulator
• Positive Displacement
  • Reciprocating
  • Rotary

By End Use Sector:

• Centrifugal Pump
  • Domestic
  • Agriculture & Irrigation
  • Mining
  • Water & Wastewater
  • Oil & Gas
  • Other Industrial
• Positive Displacement
  • Oil & Gas
  • Chemical
  • Water & Wastewater
  • Pulp & Paper
  • Power
  • Other Industrial

By Country:

• Germany
• Italy
• France
• U.K.
• Spain
• BENELUX
• Russia
• Poland
• Rest of Europe

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About Us

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

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According to ESOMAR-certified consulting firm Future Market Insights, the worldwide Mini cranes market is expected to grow at a CAGR of around 6.0 percent between 2021 and 2031. (FMI). The market is expected to rise significantly as a result of increased investment in commercial and residential infrastructure development, as well as the high usability of Mini cranes in railway depots.

The growing popularity of environmentally responsible, entertainment-friendly energy sources has prompted manufacturers to invest in the development of battery-powered small cranes. The need for rental services in the micro crane market is being fueled by high initial purchase costs and short-span requirements from users.

Spider cranes are also capable of conducting highly skilled lifting operations and are equipped with modern safety features such as outrigger interlocks, which assure chassis stabilization prior to any lifting operations. Mini crane sales are boosted by these enhanced characteristics. Mini cranes help increase production by minimizing scheduling time and limiting manpower and labor difficulties. The global small cranes market is predicted to rise by 2.2 times between 2021 and 2031, owing to an increase in demand for compact and innovative mini cranes.

“Increasing demand for eco-friendly and compact mini cranes for performing heavy lifting operations in confined spaces will fuel the market growth in the forthcoming years,” says the FMI analyst

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Key Takeaways

• The U.S. is expected to offer a favorable growth environment for the mini cranes market owing to rising government investment towards expanding the construction sector and consolidating the infrastructure.
• The presence of leading market players in the country along with flourishing heavy engineering, construction, and automotive industries is fueling the demand for mini cranes in the U.K.
• The growing inclination of manufacturers in Australia towards incorporating mini cranes in agriculture, forestry, and waste management for their high versatility and flexibility will boost the mini crane’s market growth.
• The booming construction industry coupled with the strong presence of the oil and gas industry will fuel the demand for mini cranes in UAE.
• Japan houses some of the leading mini crane manufacturers in the world. The presence of market leaders in the country will propel Japan towards becoming the biggest exporter of mini cranes in the world.
• Battery-operated mini cranes are expected to experience tremendous growth due to rising awareness about GHG emissions and government regulations promoting eco-friendly options.

Competitive Landscape

FMI has profiled some of the prominent market players providing mini cranes that include Hoeflon International B.V, Microcranes, Inc., Promax Access, MAEDA SEISHAKUSHO CO., LTD, Furukawa UNIC Corporation, Manitex Valla S.r.l., Skyjack( Linamar), R&B Engineering, Jekko s.r.l, BG Lift. Industry giants are striving towards developing innovative products and technologies to expand their global foothold. They are forming a strategic alliance with local dealers to improve the supply chain and strengthen their market position. Product launches are quickly becoming an integral part of their market expansion strategy assisting them in gaining a competitive advantage.

For instance, a new range of first-generation mini crawler cranes with the RPG2900 was launched by Palazzani Industrie in September 2020. Similarly, a versatile, medium-sized mini crane – SPX650 was launched by Italian mini crane manufacturer Jekko in August 2020.

More Insights on the Global Mini cranes Market

Future Market Insights, in its new offering, provides an unbiased analysis of the mini cranes market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the mini cranes market with a detailed segmentation on the basis of lifting capacity (up to 1 ton, 1 to 1.8 ton, 2 to 2.4 ton, 2.5 to 4.9 ton, 5 to 10 ton, 11 to 22 ton), type (spider crane, crawler crane, pick and carry cranes), operation (fuel operated, battery operated),  end use sector (industrial, railway depots, construction, facility management, marine, timber & lumber, material handling & logistics) and ownership (direct owned, rented) across major regions (North America, Latin America, Europe, East Asia, South Asia and Pacific , and Middle East & Africa)

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Mini Cranes Market by category

By Lifting Capacity

• Up to 1 ton
• 1 to 1.8 ton
• 2 to 2.4 ton
• 2.5 to 4.9 ton
• 5 to 10 ton
• 11 to 22 ton

By Type

• Spider Crane
• Crawler Crane
  • Articulated
  • Telescopic
• Pick and Carry Cranes

By Operation

• Fuel Operated
• Battery Operated

By End-Use Sector

• Industrial
  • Foundries
  • Power Plants
  • Others
• Railway Depots
• Construction
  • Residential & Commercial
  • Industrial
  • Civic Infrastructure
• Facility Management
  • Commercial
  • Industrial
• Marine
• Timber & Lumber
• Material Handling & Logistics

By Ownership

• Direct Owned
• Rented

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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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Global Switchgear sales are set to be valued at US$ 72.44 Bn in 2021 and is expected to have a stable long-term projection, according to latest insights from Future Market Insights (FMI). An ESOMAR-certified research and consulting firm. The report has forecast the global switchgear market to grow at nearly 6.9 % CAGR during 2021-2031.

The report offers analysis of growth trajectory exhibited by the market in 20+ high-growth countries. It offers detailed insights on into factors that will be driving growth over the coming decade.

The demand for switchgear was moderate in the 2020 however with it had to experience a brief period of lackluster growth on account of the unprecedented COVID-19 outbreak. Supply chain disruptions witnessed by end-use sectors such as T&D utilities, commercial, industrial and residential had restrained growth to an extent. However, considering the possibility of a stimulus in many countries, the long-term outlook on the market remains positive.

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As T&D utilities sector estimated to witness healthy growth rate in the forecast period. According to the report, T&D utilities are expected account for nearly 46% of switchgears sold in 2021. Besides this, the demand is expected to surge in commercial, industrial, and residential sectors enabling growth in the market.

Key Takeaways

• After a period of negative growth, the market will show impressive improvement, registering above 6% y-o-y growth in 2021
• The U.S. is expected to account for over 60% of sales in North America
• After a period of negative growth, the U.K. will exhibit above 6% y-o-y growth in 2021, emerging as a strong market for switchgears
• Expansion of the energy and utilities sector will enable growth in Germany and France
• Government initiatives are expected to support growth in Japan and South Korea

“Increase in demand for advancement in the switchgear and advent of smart grid are expected to give impetus to switchgears. The use of the voltage fluctuator is very common in the heavy as well commercial sectors. It is used in the transmission and distribution of energy to consumer and for running machineries. The need of the energy is increasing day by day, which has been aiding the overall expansion of the switchgear market.” says FMI analyst.

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Switchgear market is likely to grow at a moderate pace during 2021-2031. However, as it is a matured market, companies are expected to concentrate on research and development activities and capitalize on opportunities especially in the field of T&D Utilities. Their key focus will however remain meeting requirements of consumers. Collaboration with local players and developing new technology in the form of smart grid and advanced switchgear are key strategies adopted by the market players.

Competitive Landscape

The market is fragmented, with key players accounting for approximately one fifth of the market share. These companies are likely to invest in new technology developments and expansion of their networks in order to maintain their market shares. Some of the key players in the market are ABB Ltd., Siemens AG, Schniender Electric, Havells India Pvt. Ltd., Hyundai Electric and Energy System, Fuji Electric, Powell Industries, etc.

Switchgear Market By Category

By Component Type

• Power Distributor Switch Breaker
• Switch Disconnector
• MCCB
• HRC Fuse
• Earth Switch
• MCB

By Voltage Type

• Low Voltage (less than 1kV)
• Medium Voltage (1kV to 75kV)
• High Voltage (75kV to 230kV)
• Extra High Voltage (230kV to 500kV)
• Ultra-High Voltage (above 500kV)

By Construction Type

• Outdoor
• Indoor
• Others

By Insulation Type

• Air Insulated Switchgear
• Gas Insulated Switchgear
• Oil Insulated Switchgear
• Vacuum Insulated Switchgear

By End User

• T&D Utilities
• Commercial
• Industrial
• Residential

By Region

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

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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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The global water treatment market is projected to grow 6% in 2019 and reach a total valuation of ~US$ 48,951.8 million from ~US$ 46,162.7 million in 2018 as per the recent report published by Future Market Insights. Demand for potable water, changing government regulations, and awareness of the negative impact of untreated water are tipped to be the primary growth drivers of the global water treatment market.

According to the report, several key drivers are expected to fuel the growth of the global water treatment market during the forecast period. The notable driving forces include, growing awareness of the hazardous effects of impure water consumption, steady surge in demand for fresh water, adoption of water treatment systems, and demand for quality water from the domestic and industrial sector.

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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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The submersible pumps market is expected to register year-on-year growth at 4.6% in 2021, with the overall valuation totaling US$ 8.80 Bn in 2021. As per a recent analysis by Future Market Insights (FMI), sales of submersible pumps are expected to increase at 5.1% CAGR between 2021 and 2031.

According to the study, the overall submersible pumps market valuation is forecast to top US$14.45 Bn by 2031. Borewell submersible pumps will remain highly sought-after. Meanwhile, the sales of open well submersible pumps will increase at a steady pace, exhibiting growth at a 5.7% CAGR in between 2021 and 2031.

Base Year Value (2020A) US$8.42 Bn Estimated Year Value (2021E) US$8.80 Bn Projected Year Value (2031F) US$14.45 Bn Value CAGR (2021-2031) 5.1% Collective Value Share: Top 3 Countries (2021E) 33.5%

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In the last few years, water stress has been a leading concern across the world, which has in turn fuelled the demand for new water sources to fulfill the industrial as well domestic water need. Waste water treatment is becoming more popular around the world as means to relieve water scarcity, which is also driving the global submersible pumps markets.

Sales of submersible pumps were however dampened due to the outbreak of the COVID-19 pandemic. Disruptions in supply chain and suspended production activities in the oil and gas sector resulted in stagnated demand for submersible pumps.

Submersible pumps manufacturers are focusing on launching cost-effective and high efficiency products to improve sales. Governments of emerging economies in Africa and Asia, particularly in countries such as India, China and South Africa, are increasing efforts to improve access to drinking water in rural as well as urban areas, which in turn is benefiting the market.

“Initiatives undertaken by governments for waste water management and encouraging the use of technologically-driven equipment in agricultural sector are expected to spur the demand for submersible pumps,” said Future Market Insights analyst.

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Key Takeaways:

By product type, borewell submersible pumps are expected account for half of the global market in terms of revenue by the end of the forecast period. By head type, above 100 m pumps are expected to gain popularity over the forecast period owing to increasing demand for water distribution application. By Application, demand from municipal sector is anticipated to grow at 5.5% CAGR over the forecast period. East Asia has the leading share in terms of volume. However, Europe is projected to account for highest value share. Industrialization in emerging economies of Asia will increase the demand for submersible pumps over the forecast period. China and Japan will continue spearheading growth in East Asia.

Competitive Landscape

Some of the key submersible pumps manufacturers include

Kubota Corporation, Wacke Neuson Group,  Atlas Copco, ABKSB SE & Co. KGaA, Xylem Inc.,Ebara Corporation, Grundfos, Sulzer AG, The Weir Group PLC, Tsurumi Manufacturing Co., Ltd. Kriloskar Brothers Ltd., Flowserve Corporation.

The global submersible pumps market is fairly fragmented owing to the presence of several players across the globe. Moreover, leading share in the market is accounted by unorganized players which is estimated to be at around 50%-55%. Key market players are focusing on research and development to expand their product portfolio. Besides this, they are actively investing in mergers, acquisitions, and strategic collaborations to expand their global footprint.

Submersible Pumps Market by Category

By Product Type:

• Non Clog Submersible
• Open Well Submersible
• Bore Well Submersible

By Head Type:

• Below 50 meter
• 50 m- 100 m
• Above 100 m

By Application:

• Agriculture
• Industrial
  • Oil & Gas
  • Firefighting
  • Mining
  • Construction
  • Other Industrial
• Municipal
  • Water Supply & Distribution
  • Wastewater Management

By Region:

• North America
• Latin America
• Europe
• South Asia & Pacific
• East Asia
• MEA

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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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Technological advancements and rising penetration of artificial intelligence have paved the way for increased sales of robotic lawn mowers, since they have become much more efficient.

Rising dependency on automation in the commercial sector to decrease operating costs and increasing adoption of domestic robots for residential applications are major factors estimated to drive the growth of the robotic lawn mower market during the forecast period.

According to FMI’s recent market study, the robotic lawn mower market is projected to progress at a high CAGR of 11.5% and reach a valuation of US$ 2 Bn by the end of the forecast period (2021-2031).

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Key Takeaways of Robotic Lawn Mower Market Study

In terms of segmental analysis, the sales of robotic lawn mowers are expected to remain concentrated to residential end use; nevertheless, sales in the commercial segment are projected to witness hefty growth over the coming years.

e-Commerce growth across the globe squarely proliferates a robust outlook for manufacturers to sell their robotic lawn mowers through online channels/retail partners such as Amazon, e-bay, Alibaba, The Home Depot, etc.

Demand in the Europe-based consumer market has grown rapidly in recent years, and still shows a substantial growth opportunity, as the robotic lawn mower market in the region is far from saturation.

GPS and Bluetooth-enabled robotic lawn mowers and wireless mobile devices are potential investment options for manufacturers. Multiple voice interaction is also being provided in upcoming connected robotic lawn mowers.

“There is significant potential in the long-run as far as robotic lawn mowers are concerned for lawns in commercial areas, sports fields, hotels, and parks. Thus, companies in the market are positioning themselves to enter the professional/commercial market where requirements for technology and reliability are even higher

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Robotic Lawn Mower Market : Competitive Landscape

The global robotic lawn mower market is significantly consolidated, with a few players holding a prominent share of nearly 50% in the market space.

Some of the key players operating in the global robotic lawn mower market are Husqvarna AB, MTD Products, STIGA S.p.A., KYODO CO., LTD., and Robert Bosch GmbH, among others.

Moreover, to win over market imponderables and shakeouts, manufacturers such as Husqvarna, MTD, and Honda are expanding their geographic reach to South East Asia & Pacific.

Find More Valuable Insights on Robotic Lawn Mower Market

FMI, in its new research report, offers an unbiased analysis of the global robotic lawn mower market, presenting forecast statistics for the period of 2021-2031.

The report reveals insights on the robotic lawn mower market, and covers market dynamics, market share analysis, pricing analysis, and channel partners involved in the robotic lawn mower market value chain.

Readers can also find key trends and market growth scenarios based on working area, end use, sales channel, and regions such as North America, LAMEA, South East Asia & Pacific, and Europe.

Robotic Lawn Mower Market Taxonomy

The global robotic lawn mower market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.

Working Area

• Small Area (up to 0.4 acre)
• Medium Area (0.4-0.8 acre)
• Large Area (above 0.8 acre)

End Use

• Residential
• Commercial

Sales Channel

• Offline
• Online

Region

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

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About Us

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

Contact Us:
Future Market Insights,
Unit No: 1602-006,
Jumeirah Bay 2,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers,
Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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