Market Research Blog – Page 975 – New Product Development

Future Outlook: Automotive Engineering Services Market Projected to Reach USD 3.2 Billion by 2033, Growing at a CAGR of 7.17% | FMI Reports

In 2022, the global Automotive Engineering Services Market was valued at USD 1.46 billion and is expected to reach USD 1.6 billion in 2023. According to Future Market Insights (FMI), the market is projected to grow at a CAGR of 7.17% from 2023 to 2033, potentially achieving approximately USD 3.2 billion by 2033.

The expansion of the automotive engineering services market is driven by a rising demand for advanced technological solutions, such as connectivity features and collision avoidance systems. Additionally, the focus on developing lightweight vehicles—driven by government regulations and initiatives from manufacturers aimed at enhancing fuel efficiency—also contributes to market growth.

Government regulations requiring safety-related systems play a significant role in advancing the market. Moreover, the increasing adoption of electric and hybrid vehicles is boosting production needs and further fueling the growth of automotive engineering services.

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Key Takeaways from the Market Study

The global automotive engineering services market grew at a CAGR of 6.42% from 2018 to 2022.
India is projected to experience a CAGR of 6.8% from 2023 to 2033.
China is expected to grow at a CAGR of 7.2% during the same period.
In 2022, North America held a market share of 43.2%.
The European market accounted for a market share of 48.2% in 2022.
Within the service segment, prototypes represented a market share of 56.2% in 2022.

“Demand for advanced and autonomous connectivity features is influencing innovation intensely and is one of the major key drivers of the automotive engineering services market”, – commented a Future Market Insights analyst.

Market Competition

Companies aim to develop cutting-edge solutions during the entire life cycle of a product, from the design and inception phase to the end of its service life. They also strategically locate their main factories in emerging markets to make it ideal to service the developing markets.

Key companies profiled in the Automotive Engineering Services Market

FEV Group GmbH
IAV
Ricardo
AVL
ALTEN Group
Bertrandt
ALTRAN
L&T Technology
Capgemini Service SAS
T-NET JAPAN Co., Ltd.
DesignTech Systems.
Tech Mahindra Limited
EDAG Engineering GmbH
Horiba, Ltd.

Some of the new developments in the automotive engineering services market are:

In May 2023, Tech Mahindra inaugurated Technology Development Center in Oman.
In August 2023, Temasek is planning to invest 12 billion rupees ($145 million) in Mahindra & Mahindra Ltd.’s electric vehicle unit, valuing it at US$ 9.8 billion.

Key Segments Profiled in Automotive Engineering Services Market

By Service Type:

Testing & Diagnostic
System Integration
Designing
Prototyping
Research

By Applications:

ADAS & Safety
Body & Chassis
Powertrain & Exhaust
Interior, Exterior & Body Engineering
Electrical, Electronics & Body Controls
Connectivity Services
Simulation

By Location:

Outsourced Services
In-house Services

By Vehicle Type:

Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles

By Region:

North America
Latin America
Europe
East Asia
South 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 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: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

Future Outlook: Bicycle Market Expected to Reach USD 6,229.4 Million by 2033, Growing at a CAGR of 8.92% | FMI Reports

In 2022, the global bicycle market was valued at USD 1,300 million and is projected to grow to USD 2,650.23 million in 2023. The market is anticipated to expand at a CAGR of 8.92% from 2023 to 2033, potentially reaching around USD 6,229.4 million by 2033.

The growth of the bicycle market is largely driven by an increasing consumer preference for bicycles as a leisure activity. Bicycles are favored for promoting an active, healthy lifestyle and for their ability to help prevent various health issues, making them a popular choice for exercise.

The rising global demand for bicycles is also fueled by growing public awareness of the health benefits associated with cycling. Moreover, the rapid proliferation of dockless bicycle-sharing programs is playing a significant role in market expansion, highlighting a shift towards more accessible and sustainable transportation options.

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Key Takeaways from the Market Study

The global bicycle market experienced a CAGR of 7.42% from 2018 to 2022.
In terms of product segments, road bicycles accounted for a revenue share of 70%.
Among end-users, the male demographic held a substantial market share of 75%.
By technology segment, conventional bicycles dominate with an 80% market share.
North America is projected to capture a market share of 42.8%.
Europe’s market share is expected to rise to 38.4% within the bicycle market.

“Developments in GPS technology and Mobile App development is one of the key drivers of the bicycle market”, -comments a Future Market Insights analyst.

Market Competition

Key players can create and advertise new, better goods at high price points to obtain a continuous competitive edge in the bicycle market. Additionally, a few significant bicycle market players are increasing their bicycle market share by choosing techniques including mergers and acquisitions, partnerships, and collaborations.

Top Key Players

Accell Group
Atlas Cycles (Haryana) Ltd.
Avon Cycles Ltd.
Cervelo
Dorel Industries Inc.
Giant Bicycles
Merida Industry Co., Ltd.
Specialized Bicycle Components, Inc.
SCOTT Sports SA
Trek Bicycle Corporation

Recent Developments Contributing to the Growth of the Bicycle Market

Yulu is an app-based platform that offers on-demand bicycle/e-bike rentals in a few Indian cities. Through a mobile app, the business offers GPS and Bluetooth-enabled bicycles and electric bikes for rent. By scanning the QR code on the bicycle to unlock it, the user can ride after viewing nearby available bicycles on the app.
Pony is an app-based platform for dockless bicycle rentals in a few locations across Europe. The software allows users to find nearby vehicles that are available and lock/unlock them by scanning a QR code. Users may leave the bicycle at any authorized spot when they reach their destination.

Valuable Insights Available

Future Market Insights offers an unbiased analysis of the bicycle market providing historical data from 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the bicycle market is segmented based on major By Product Type: (Comfort, Cruiser, Mountain, Hybrid, Road, Cargo, Youth), By Technology: (Electric, Conventional), By Price: (Low Range, Medium range, Premium), By End User: (Kids, Men, Women), and Region: (North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding China & Japan, Japan, China, Middle East & Africa)

About the Automotive Division at Future Market Insights

The automotive team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.

About Future Market Insights (FMI)

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Future Outlook: Aircraft Strut Market Projected to Reach USD 8.5 Billion by 2032, Growing at a CAGR of 6.5% | FMI Reports

The aircraft strut market is anticipated to experience a steady CAGR of 6.5% from 2022 to 2032, with an estimated value of USD 8.5 billion by 2032. The market was valued at USD 3.9 billion in 2022.

Aircraft struts are vital components in the structural assembly of aircraft. The rising frequency of global air traffic and the increasing number of daily flights are driving the demand for aircraft struts.

The market is poised to benefit from a surge in new aircraft orders across both developed and emerging economies. Moreover, the growth of low-cost carriers, fueled by high air traffic, is expected to further enhance market growth.

Technological innovations, such as the introduction of oleo-pneumatic struts that act as effective shock absorbers, are also aiding market expansion. These struts, primarily used in large cargo aircraft, improve landing capabilities on rough terrain and protect the airframe from impacts during taxiing, thus supporting the aircraft strut market’s growth.

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Key Takeaways from the Aircraft Strut Market Report:

The growing demand for commercial aircraft in the U.S. and Canada, driven by destination expansion plans and fleet modernization efforts, is expected to enhance North America’s share of the aircraft strut market in the coming years.
High air traffic in developing nations like India and China, attributed to rising disposable incomes and discounts on online ticket booking platforms, is projected to bolster the regional market.
The establishment of new manufacturing units in the Asia Pacific region, particularly with German companies setting up production facilities in Asian countries, is expected to influence the global aircraft strut market positively.

Competitive Landscape:
Market competitors are focusing on innovations related to multiple metal use while increasing the core strength of the shock absorber. This enhances the strength value in the market. The global market is highly fragmented with the presence of the above-mentioned key players. The majority of these players are striving to expand their portfolios by launching cutting-edge products.

Leading Key Players:

Birken Manufacturing
Circor Aerospace, Inc.
Malabar Inc.
PCC Aerostructures
Bansbach Easylift of North America
Crompton Technology Group Ltd., QRP, Inc.
New Brow Aerospace
Wicks Aircraft Supply
Fiber Dynamics, Inc.
Robart Mfg
Lefiell Manufacturing Co.

Recent Developments:

Birken Manufacturing has introduced its new set of aircraft landing gears involving enjet aero bloomfield that works as a brilliant shock absorber.
Completing 60 years of service, Circor Aerospace Has added its new products and services related to the aviation, revising its aircraft strut, making it stronger.

Aircraft Strut Market Segmentation:

By Aircraft Body Type:

Small Body Aircraft
Wide Body Aircraft
Very Large Body Aircraft
Regional Aircraft

By Operation:

Hydraulic
Pneumatic

By Position:

Front Wheels
Rear Wheels

By Product Type:

Rigid Aircraft Struts
Spring Steel Aircraft Struts
Shock Struts
Bungee Cords

By End User:

Commercial
Military

By Region:

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

Combi Cooler Market Projected to Reach USD 348 Million by 2033, Driven by Demand in Diverse Industries

In 2022, the global market for combi coolers is estimated to be valued at around USD 232 million in 2022. Demand is expected to remain robust across various end-use sectors, with projections indicating the market will reach USD 348 million by 2033, growing at a CAGR of 3.8% from 2023 to 2033. The market is anticipated to generate approximately USD 240 million in 2023.

This growth is fueled by increasing demand from industries such as oil and gas, chemicals, energy and transmission, automotive and aerospace, and heavy machinery manufacturing.

Screw compressors, commonly used as a power source by leading manufacturers, play a crucial role in the growth of the combi cooler market. These compressors are widely applied in sectors including oil and gas, pharmaceuticals, food and beverages, and automotive, enabling faster mass production of complex products and machinery. As a result, the rising demand for screw compressors is driving expansion in the combi cooler market.

The demand for combi coolers is also heightened by their capacity to eliminate the need for bulky, costly, and complicated condenser units. Additionally, they require less installation effort, both indoors and outdoors, which further enhances their appeal across various applications.

Key Takeaways From the Market study:

Based on power, the 250 to 400 Kw combi cooler segment will account for 33.5% of the total market share in 2022.
By material, sales of aluminum combi cooler will hold about 69.3% of the total market share.
In terms of end use, the oil & gas segment will create an absolute dollar opportunity worth US$ 16.7 Mn during the forecast period.
By 2032, Europe is expected to have the largest share in the global market, accounting for around 27% share.

Market Landscape

HAINZL INDUSTRIESYSTEME GmbH, Standard Radiators Pvt. Ltd., HYDAC INTERNATIONAL GmbH, EMMEGI Heat Exchangers Inc., ROTORCOMP VERDICHTER GmbH, G&M Radiator, ACP (Changzhou) Heat Exchanger Co., Ltd., KTR Systems GmbH, EMMEGI GmbH, Oesse Srl, Thermex Ltd, GDM Cooler Manufacturing Ltd, Dolphin Manufacturing LLC, Engendren Corporation, Horizon Enterprise, COMP AIR TREATMENT SYSTEM P. LTD. ,Wuxi Guanyun Heat Exchanger Co.,Ltd., and WUXI XINSHENG HEAT EXCHANGER TECHNOLOGY CO.,LTD are some of the key manufacturers of combi coolers.

Key Segments Covered in Combi Cooler Market Analysis

By Power:

Upto 10 Kw
10 to 50 Kw
50 to 250 Kw
250 to 400 Kw
Above 400 Kw

By Material:

Aluminium
Copper
Brass
Others

By End Use:

Oil and Gas Industry
Chemical Industry
Energy and Transmission
Automotive and Aerospace
Mining and Material
Others Manufacturing Machineries

By Region:

North America
Latin America
Europe
East Asia
South Asia and the Pacific
Middle East & Africa

Report Preview: https://www.futuremarketinsights.com/reports/combi-cooler-market

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: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

Optical Measuring Systems Market Expected to Reach USD 8.0 Billion by 2033, Driven by Increased Automation

The global optical measuring systems market is projected to be valued at USD 4.3 billion in 2022, with strong demand expected to persist throughout the assessment period. This growth is attributed to the rising automation in various industries, leading to a forecasted market value of USD 8.0 billion by 2033, representing a CAGR of 5.9% from 2023 to 2033. Additionally, the market is anticipated to reach USD 4.5 billion in 2023.

Optoelectronics plays a vital role as a foundational technology for electronic devices that emit, modulate, and transmit light signals. Optoelectronic transducers detect light waves and convert them into electrical signals, such as voltage or current, enabling the measurement of light intensity. These transducers consist of both transmitters and receivers to sense optical attenuation.

Transducers in the optoelectronic family go beyond basic sensors by incorporating signal conditioning, making them superior as they both sense and process signals. Sensors, on the other hand, only detect signals, while transducers offer greater functionality.

Optoelectronic transducers are used in numerous applications, including converting light into electrical signals and vice versa, forming a key subset of photonics. They are essential for information gathering, transmission, display, storage, and processing.

Market Drivers:

Innovations in semiconductor technology have expanded the scope of photonics and electro-optics, contributing to the growing adoption of optoelectronic components in electronics.
The ability of optoelectronic transducers to measure light sources by detecting and converting them into electrical signals, along with signal conditioning, is driving market growth.
Optoelectronic components, such as LEDs, laser diodes, and image sensors, are widely used in various electronic devices like televisions, cameras, laptops, and smartphones, fueling demand.
LEDs are increasingly used in residential and commercial settings due to their energy efficiency and durability, while laser diodes find applications in telecommunications and other sectors.
Image sensors are integral to machine vision, surveillance, and automotive cameras, further boosting the optoelectronic transducers market.

These advancements and broad applications are expected to drive further growth in the optoelectronic transducers market over the forecast period.

Key Takeaways from the Market Study

From 2018 to 2022, the optical measuring systems market demand expanded at a CAGR of 5.5%
Based on the light beam, the vertical optimizer segment accounts for a CAGR of 5.7%
By application, the manufacturing segment is expected to expand at a CAGR of 8% during the forecast period
North America to emerge as a promising optical measuring systems market, capturing a CAGR of 5.8%
The optical measuring systems industry in the United Kingdom is predicted to reach US$ 7billion by 2033
South Asia and the Pacific to be an opportunistic optical measuring systems market, expected to capture a CAGR of 5.4% during the forecast period.

Competitive Landscape

The global optical measuring systems market is fragmented with the presence of several large and medium-scale players. The leading players in the optical measuring systems market are investing in strategic agreements in order to capture market share.

Key Companies Profiled

Nikon Metrology
Bowlers Group
Physical Digital Ltd
Mech Metrology
Carl Zeiss AG
Trimos SA
OMS Corporation
Jenoptik AG
Mitutoyo Corporation
Hexagon Manufacturing Intelligence

Key Segments Profiled in the Optical Measuring Systems Market Survey

By Light Beam:

Vertical Optimeter
Horizontal Optimeter
Tool Maker’s Microscope

By Application:

Automotive
Aerospace
Medical
Manufacturing
Others

By Region:

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

Report Preview: https://www.futuremarketinsights.com/reports/optical-measuring-systems-market

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.

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Global Residential Boiler Market to Reach USD 53.1 Billion by 2033, Growing at a 5.5% CAGR

The global residential boiler market is projected to grow from USD 31.1 billion in 2023 to USD 53.1 billion by 2033, reflecting a CAGR of 5.5% over the forecast period.

Market growth is being driven by the increasing demand for energy-efficient heating solutions, particularly in developing regions where construction activities are on the rise. A growing focus on sustainability and energy efficiency is boosting demand for residential boilers with higher efficiency ratings.

Government initiatives, including incentives and regulations aimed at reducing greenhouse gas emissions and promoting energy-efficient systems, are further propelling market expansion. Tax credits and subsidies for homeowners installing energy-efficient boilers are contributing to the adoption of these systems.

Technological advancements, particularly the integration of smart technology into residential heating systems, are gaining traction. Smart boilers offer features like remote control, programmable settings, and energy monitoring, allowing homeowners to optimize energy usage, increase comfort, and reduce costs.

In North America, the residential boiler market is set for steady growth due to factors such as cold climates, a high number of residential buildings, and the need for replacement of older systems. Meanwhile, the Asia Pacific region is seeing significant growth, fueled by rapid urbanization, population growth, and rising disposable incomes in emerging economies.

Key Takeaways from the Market Study:

From 2018 to 2022, the residential boiler market demand expanded at a CAGR of 4.5%
Based on capacity, the below 24 kW segment accounts for a CAGR of 5.3%

By application, the apartment segment is expected to expand at a CAGR of 5.4% during the forecast period
North America to emerge as a promising residential boiler industry, capturing a CAGR of 5.4%
The residential boiler industry in the United Kingdom is predicted to reach US$ 3.3 Billion by 2033
Asia Pacific is an opportunistic residential boiler market, expected to capture a CAGR of 5.2% during the forecast period.
South Korea’s residential boiler industry is predicted to achieve a market revenue of US$ 2.7 Billion by 2033

Competitive Landscape:

The global residential boiler market is fragmented with the presence of several large and medium-scale players. The leading players in the residential boiler industry are investing in strategic agreements in order to capture market share.

Prominent players in the residential boiler industry are:

Ariston Group
BDR Thermea Group
Groupe Atlantic
Viessmann
Vaillant Group
Robert Bosch
Ideal Heating
Unical Ag Spa
Daikin Industries
A.O. Smith Corp
Bradford White Corporation
Ferroli S.p.A.
Burnham Holdings
Lennox International
Fondital
Hoval
Noritz Corporation
Slant/Fin Corporation
ECR International
Immergas Group

Residential Boiler Industry Segmentation Analysis:

By Capacity:

Below 24 kW
24kW to 35 kW
Above 35 kW

By Technology:

Condensing
Non-Condensing

By Fuel Type:

Gas
Oil
Electric
Others

By Application:

Apartments
Villas
Others

By Region:

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

Report Preview: https://www.futuremarketinsights.com/reports/residential-boiler-market

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

Water Turbine Market Expected to Reach USD 3.8 Billion by 2032, Fueled by Growing Demand for Renewable Energy

The global water turbine market is projected to rise from USD 2.4 billion in 2022 to USD 3.8 billion by 2032, with a CAGR of 4.7% over the forecast period (2022–2032).

Industries worldwide are increasingly turning to renewable energy sources such as solar, wind, and water, driving a notable increase in demand for water turbines. These turbines, which convert kinetic energy from water into mechanical energy, are crucial for electricity generation. As the push for sustainable energy and carbon emission reduction gains momentum, the water turbine market is set for significant growth, shaping future trends and expanding market share during the forecast period.

Key Takeaways:

Market Growth: The water turbine market is set to grow from USD 2.4 billion in 2022 to USD 3.8 billion by 2032, driven by the increasing adoption of renewable energy.
CAGR Projection: The market is forecasted to expand at a steady CAGR of 4.7% over the decade, thanks to rising demand for sustainable energy solutions.
Renewable Energy Shift: A global shift toward renewable energy sources, including water turbines, is propelled by the need to reduce dependency on fossil fuels and cut carbon emissions.
Diverse Applications: Water turbines are being used for various power generation applications, from household to industrial use, catering to the growing global energy demand.
Technological Advancements: Different types of turbines, such as Pelton and cross-flow turbines, are utilized for high-efficiency power generation based on specific water flow and head conditions, ensuring maximum performance.

Recent Development in the Water Turbine Market is:

The new Nachtigal hydropower plant in Cameroon will receive seven 60MW Francis turbines from GE Renewable Energy in February 2019. The consortium headed by GE Renewable Energy will conduct the D87 million contract with Elecnor.
Ethiopian Electric Power awarded GE Hydro France a multimillion-dollar contract in January 2019 to produce and test turbine generators for five power generating units. For the production of the hydro turbine, GE Hydro France will receive a staggering €53.9 million.
GE Power and Navayuga Engineering Company Ltd. entered into a contract in January 2018 for the design, manufacture, supply, erection, testing, and commissioning of 12 units of 80MW vertical Kaplan turbine generators. The contract is estimated to be worth Rs. 818.3 crores.

Who are Some of the Key Competitors in the Water Turbine Market?

Some prominent key market participants in the water turbine market are GENERAL ELECTRIC, Wärtsilä, Alterra Power Corporation, Energy Development Corporation, Nautilus LLC, Canyon Industries, Inc., The James Leffel & Co, Toshiba India Pvt. Ltd., Ram Power Corporation, Enel Spa, Sumitomo Corporation, Gilbert Gilkes & Gordon Ltd., and Calpine Corporation.

The key water turbine market player is using a set of methodology to enlarge the water turbine market size. The above key industries are playing a prominent character to function their responsibility to acquire the lion’s water turbine market share while increasing sales of water turbines during the forecast period.

Therefore, they adopt mergers, acquisitions, partnerships, product launches, and other techniques to increase water turbine market demand analysis in the coming years.

Key Segments:

By Design:

Impulse Turbine
Pelton Wheel
Turgo
Water Wheel
Jonval Turbine
Archimedes Screw
Reaction Turbine
Francis Turbine
Kaplan Turbine
Tyson Turbine
Gorglow Turbine

By Application:

Power Generation
Power Storage
Marine
Aeronautics

By Region:

North America
Latin America
Asia Pacific
MEA
Europe

Report Preview: https://www.futuremarketinsights.com/reports/water-turbine-market

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.

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Packaged Food Market Outlook: Trends, Innovations, and Consumer Demands through 2033

The global packaged food market value is likely to jump from US$ 40,79,495 million in 2023 to US$ 62,11,619.50 million by 2033. This estimated growth is expected to be driven by a steady CAGR of 4.3% in global packaged food sales over the next decade.

Packaged food products are gaining prominence in the global landscape as consumers shift toward convenience foods and convenient packaging formats. To beat the market competition, key players in the market are arming themselves with analytics and digital tools. Additionally, key contenders are catering to the demand volatility in a cost-effective manner by boosting network agility via supply-chain digitization and stronger connectivity.

According to recent research, a large share of flexitarians is seeking ways to lower their meat intake. However, about 30% of regular meat eaters are actually following this aspiration. These trends are expected to show their impact on the purchase of packaged products. Particularly in Western Europe, a great share of flexitarians is consuming less or no red meat.

Seize Market Opportunities: Identify and capitalize on market opportunities with our comprehensive report.

In the marketspace, brand owners are finding convenience opportunity to offer consumers product options that are easy to consume, like single-serve capsules. Companies are coming up with packaging solutions that support single-use systems. An example of this concept is the stand-up pouch, which is easy to open and lightweight.

A key emerging opportunity in this arena is the development of single-use systems in an eco-friendly way. Consequently, market players are working on leveling up their innovation game by eradicating concerning materials out of the packaging solutions sans compromising on packaging functionality or changing their equipment.

“Market players are presented with an innovation challenge to make their product packaging causing lower environmental impact sans compromising on consumer functionality. With better innovation capabilities, key players can strike the right chord between these demands,” says an FMI analyst.

Key Takeaways from the Packaged Food Market Report:

In 2022, the global packaged food market size stood at US$ 39,22,591 million.
The United States is leading the packaged food industry with 18.6% global market share in 2023.
In 2023, China’s packaged food industry closely follows the movement of the United States, holding an 11.6% global market share.
Germany emerged as a prominent player in the European packaged food industry, capturing a 5.8% global market share in 2023.
The market is led by the ready-to-eat meals segment, commanding 34.6% of the global market in 2023.

Recent Developments Detected by FMI in the Packaged Food Market:

In June 2022, Conagra Brands, Inc. released a wide-ranging line of new products made to solve cravings and mealtime dilemmas. The new foods from Conagra Brands feature on-trend ingredients, contemporary flavors, and convenient prep methods.
In July 2023, Conagra Brands, Inc., a prominent branded food firm in North America, unleashed more than 50 fresh items across the company’s snacks, grocery, and frozen divisions. Iconic brands from Conagra have developed new recipes to offer contemporary, flavorful, and dynamic food to meet the evolved needs of consumers.
In March 2021, Nestlé introduced bio-based lids and scoops composed of renewable resources. This range is targeted at infants and children.

Secure Your Copy Now: Gain full access to the Packaged Food Industry report, including Market Forecast, Company Share Analysis, Competitive Intelligence, DROT Analysis, Market Dynamics, Challenges, and Strategic Growth Initiatives.

Packaged Food Market Segmentation

By Product Type:

Baby and Infant Foods
Dairy Products
Confectionary
Bakery and Snacks
Meat and Poultry
Ready-To-Eat Meals
Alcoholic Beverage
Non-Alcoholic Beverage

By Packaging:

Jugs
Packets
Bottles
Bags
Bowls
Boxes
Cans
Cartons
Crates

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East and 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.

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

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Drum to Hopper Blends Market: Key Insights and Growth Trends for 2032

According to a recent report by Future Market Insights (FMI), market research and competitive intelligence provider, the global sales of drum to hopper blends are estimated to reach a valuation of US$ 1.53 Billion by 2032, exhibiting a CAGR of 6.6% throughout the forecast period (2022-2032)

Growing demand for fortification of food due to surge in cases of malnutrition and increasing health awareness is a key factor driving growth in the global drum to hopper blends market. Several food products like flour, sugar, maize, wheat, and vegetable oils are generally fortified with vitamins and minerals to improve health, which has driven demand for the drum to hopper blends in recent years.

Usage of drum to hopper blends improves the nutritional content of food products and supplements, and thus plays a key role in fulfilling the requirements of body. These blends improve bone health, digestion, and immunity.

Consumption of mineral and nutrient premix, like infant formula based on amino acid, is also on the rise, owing to consumers’ growing preference for nutritional fortification of baby food and infant formula.

In addition to this, rising demand for customized premixes and a greater emphasis by various government bodies on raising awareness about the benefits of supplements will drive market growth during the forecast period.

Key Takeaways from Market Study

By form, powdered blends sales will continue to generate significantly more revenue than liquid blends sales.
Based on ingredient, amino acids segment is expected to retain its dominance in the global drum to hopper blends market, accounting for over 33% revenue share through 2032.
North America will continue to dominate the global drum to hopper blends market during the assessment period.
The drum to hopper blends industry in the U.S. is expected to have the largest market share with 65% and to be the most profitable in North America.
With rising consumption of fortified foods, demand for drum to hopper blends to grow at a robust pace across the U.K. during the forecast period.

“Factors such as rising demand for functional foods and beverages, as well as increased availability of nutraceuticals in various forms, will drive the drum to hopper blends market growth during the forecast period,” says a lead analyst at Future Market Insights.

Who is Winning?

Some of the key players in the Drum to hopper blends Market include Glanbia, Archer Daniels Midland, Koninklijke DSM, B&H Biotechnology, Jubilant Life Sciences, Farbest Brands, Fenchem, Prinova Group, Watson Inc, Barentz, Lycored, SternVitamin, Hexagon Nutrition.

These leading drum to hopper blends manufacturers are adopting various strategies such as product innovation, strategic mergers, acquisitions, and partnerships to gain a competitive edge in the global drum to hopper blends market. For instance,

In December 2020, Prinova launched a line of premixes for dairy replacement products to assist manufacturers in responding to the plant-based revolution.

Drum to Hopper Blends Market by Category

By Form:

Powder
Liquid

By Ingredient:

Vitamins
Minerals
Amino Acids
Nucleotides

By Application:

Early Life Nutrition/ Baby Food
Food & Beverages
Pharma OTC Drugs
Dietary Supplements

By Function:

Bone Health
Immunity
Digestion

By Region:

North America
Europe
Asia Pacific
MEA
Latin America

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.

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Himalayan Salt Market Growth: Trends, Applications, and Future Projections through 2034

The demand for Himalayan salt is anticipated to surpass US$ 12,158.4 million in 2024 and is likely to attain a valuation of US$ 19,859 million by 2034. The Himalayan salt market size is projected to expand at a CAGR of 5.00% from 2024 to 2034.

Consumer desires for natural and artisanal items influence the Himalayan salt market’s dynamics. The salt, a pure and unprocessed product with distinct properties, addresses the growing desire for authenticity. Businesses can capitalize on this trend by stressing their Himalayan salt products’ natural origins, unique hue, and handcrafted aspects. A compelling brand narrative centered on sustainability, ethical sourcing, and traditional extraction processes can appeal to environmentally concerned customers. This can help promote brand loyalty and distinguish products in a market increasingly driven by authenticity.

Collaboration with wellness resorts, spas, and the hospitality industry coincides with the increasing wellness tourism movement. Integrating Himalayan salt into unique spa treatments, in-room amenities, and wellness packages improves customer experience. This strategic collaboration serves consumers seeking comprehensive travel experiences and offers unique promotional opportunities in the hospitality sector. Creating unique partnerships, marketing activities aimed at wellness tourists, and aligning with resorts’ wellbeing-focused ethos all help to differentiate brands and increase visibility in the thriving Himalayan salt industry.

“Regulatory compliance, innovation, and sustainability are critical for success in the dynamic Himalayan salt market. Encouraging eco-friendly practices, ongoing product innovation, and regulatory compliance are essentials for industry participants. Strategic alliances and personalization based on customer needs will be essential for surviving this fast-paced market.” -says Nandini Roy Choudhury (client Partner for Food and Beverages at Future Market Insights, Inc.)

Key Takeaways from the Himalayan Salt Market Report

The iodized segment holds 71.4% of market shares in 2024.
The food and beverage segment captured 74.0% of market shares in 2024.
The market size in the United States is projected to rise at a 6.1% CAGR through 2034.
The market size in Germany is anticipated to develop at a 4.7% CAGR through 2034.
The market size in Japan is estimated to surge at a 4.6% CAGR through 2034.
The market size in India is expected to increase at a 4.1% CAGR through 2034.

Competitive Landscape

The Himalayan salt market is dominated by established businesses such as SaltWorks and Mineral Salt Corporation, who have substantial distribution networks and brand awareness. Himalayan Salt Company and SaltPur are specialized enterprises targeting specific sectors with distinct services. Emerging players such as Himalayan Chef prioritize innovation and agility, while strategic relationships promote synergies and creativity. Adaptability and awareness of customer preferences are critical for keeping a competitive advantage in this changing industry.

Recent Developments

In August 2023, Himalayan Source introduced the Himalayan Salt Capsule to help spas, health and fitness facilities, and families increase their halotherapy offerings.
In July 2023, Cargill, a food ingredient company, showcased its latest innovation in salty solutions at IFT FIRST, featuring a new line of Pink Himalayan Salt products. Food makers are increasingly seeking the substance for its potential health benefits.

Himalayan Salt Market Segmentation

By Product Type:

Iodized
Non-Iodized

By Application:

Food & Beverage
Bath Salts
Salt lamps
Others

By Sales Channel:

Offline Sales Channel
- Supermarkets/Hypermarkets
- Departmental Stores
- Convenience Store
- Other Sales Channel
Online Sales Channel
- Company Website
- E-commerce Platform

By Region:

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific (APAC)
Middle East & Africa (MEA)
Japan

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.

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.