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During the forecast period, the market for dumbwaiter lifts is anticipated to register a CAGR of 2.4%. It is anticipated that the market for dumbwaiter lifts will be worth US$ 767.0 million in 2022 and US$ 972.0 million by 2032.

Dumbwaiter lifts are in high demand because they are frequently used to move smaller items between floors of a building. Additionally, due to their use in carrying food in malls and markets, the demand for dumbwaiter lifts is likely to increase.

Each floor of the building has a small doorway created by the design of these tiny lifts where objects can be sent or received. Because it is the simplest method for moving the goods, the market share for dumbwaiter lifts is expected to grow during the forecast period.

The market for dumbwaiter lifts is growing slowly, with a 2.4% CAGR during the forecast period. Market expansion from 2016 to 2021 was 2.1% CAGR. Dumbwaiter lifts are time- and money-saving devices that come in handy in a number of sectors, including healthcare, business, and retail. The growth of the dumbwaiter lifts market is being driven by these sectors.

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In addition, dumbwaiter lifts have guided rails, a movable frame, and ropes and pulleys for moving cargo. Because of this, these lifts are suitable for transporting goods without putting any strain on the user. Dumbwaiter lifts have a weight limit to carry the most weight possible. To succeed in the dumbwaiter lifts market during the forecast period, manufacturers should take into account these load-carrying capacities as another safety measure.

Changing Life-style in Asia-Pacific is Promoting Dumbwaiter Lifts Market

Dumbwaiter lifts have a sizable enough market to be compared to escalators and elevators. Due to the development of high-end hotels, hospitals, and skyscraping residential buildings around the world, the market for dumbwaiter lifts has increased recently.

Additionally, the market is growing as a result of changing lift design, increasing per capita income, rapid urbanisation, and partnerships with regional governments. Additionally, due to the increased adoption of dumbwaiter lifts in recent years, the market for dumbwaiter lifts is expanding quickly in nations like China and India.

Progress of North America Dumbwaiter Lifts Market

North America is anticipated to grow significantly during the forecast period, gaining 18% of the global market share. The market share of dumbwaiter lifts has increased recently due to improvements in hospitality services and R&D. Recent rapid urbanisation has led to a rapid expansion of the dumbwaiter lift market in the US.

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Achievement of European Dumbwaiter Lifts Market

With a 20% market share for dumbwaiter lifts during the forecast period, the Europe region is the region with the fastest growing market. The region’s market for dumbwaiter lifts is expanding as a result of expanding industries, infrastructure, and hospitals. The leading nations in the region that are expanding the market during the projection period are the UK, Germany, and France.

Competitive Landscape

Skillful Players in the Dumbwaiter Lifts Market

The key players are the leading soldiers who help to expand the market size by adopting several marketing tactics. These tactics are pushing the dumbwaiter lifts market upward in growth by acquiring a maximum share in the coming years.

Key Competitors

• Otis Elevator Company
• Mitsubishi Electric Corporation
• Schindler
• Kone Corporation
• ThyssenKrupp AG
• Stannah
• LUTZ Elevators
• Elevation Innovation Inc.

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Surging carbon footprint attributed to heavy automotive usage has led manufacturers to improve existing vehicle tire designs has significantly heightened demand for low rolling resistance tires, according to ESOMAR-certified Future Market Insights’ (FMI) latest research report. As per the study, the global low rolling resistance market is slated to surpass a staggering CAGR of 11% across the forthcoming decade.

Key manufacturers are increasingly focusing on achieving fuel economy, one of the top priorities in the global fight to achieve environmental sustainability in the automotive domain. The United States Department of Energy advocates that adopting low roller resistance tires can yield around 5-15% of fuel economy. A 5% reduction in rolling resistance would improve fuel economy by approximately 1.5% for light and heavy duty vehicles.

Prominent manufacturer Bridgestone Group offers revolutionary solutions contributing to CO2 emissions reductions by customers and partners across society. To accelerate its contributions, it has set the focused target towards 2030: contributing to global emissions reduction across the lifecycle and value chain. For the target of a 25 percent reduction in tire rolling resistance by 2020, it achieved a 23 percent reduction in 2019.

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Key Takeaways from FMI’s Low Rolling Resistance Tire Market Study

• By vehicle type, passenger vehicles to emerge as primary low rolling resistance tire end-users
• Wide band width low rolling resistance tires to account for nearly a quarter of the global demand
• Sales across the aftermarket segment are likely to surpass an impressive valuation, given the ever expanding volumes of global transportation fleet
• US to experience noteworthy expansion amid robust presence of regional level tire manufacturers
• India and China to generate lucrative opportunities across South Asia & East Asia, collectively experiencing over 3x growth
• Massive investment projects to augment production capabilities to bolster demand across Japan
• Broadening EV market to widen low rolling resistance tires adoption across Germany

“Visibly increasing consumer tilt towards commercial vehicles for long distance travel is likely to amplify sales of low rolling resistance tires by prominent automotive manufacturing giants,” says the FMI analyst.  

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Competitive Landscape

Bridgestone Corporation, The Goodyear Tire & Rubber Company, Sumitomo Rubber Industries Ltd., Pirelli & C S.p.A, Hankook Tire, MICHELIN, Continental AG, Trelleborg AB, The Yokohama Rubber Co. Ltd, Apollo Tyres Ltd., Maxxis International (Cheng Shin Rubber), Marangoni S.p.A and MRF Tyres are some prominent players operating in the low rolling resistance tire market.

Emphasis on lightweight tires is prompting prominent players to introduce appropriate product portfolios. For instance, in April 2021, Milan-based Pirelli & C S.p.A introduced P ZERO RACE Tub SL, a new rubber, equipped with a special inner tube which guarantees a reduction in overall tire weight exceeding 10%, while maintaining the same grip, smoothness and reliability for bicycles.

Manufacturers are also focusing on offering customized solutions to appropriate end-use industries. Hankook Tire, for instance, announced in April 2021 that it intends to supply original equipment for Porsche 718 Boxster and Cayman models, including tailor-made Ventus S1 evo 3 tires in sizes 235/40 ZR19 (92Y) N-O for the front axle and 265/40 ZR19 (98Y) N-O for the rear axle.

Key Segments Covered

Vehicle Type

• Passenger Vehicle
• Light Commercial Vehicle
• Heavy Commercial Vehicle

Width Type

• Dual Type
• Wide Band Type

Sales Channel

• OEM
• Aftermarket

Region

• North America (US and Canada)
• Latin America (Brazil, Mexico and Rest of Latin America)
• Europe (Germany, France, Spain, UK, Italy, Nordics, BENELUX, Russia and Rest of Europe)
• East Asia (China, Japan and South Korea)
• South Asia (India, Malaysia, Thailand, the Philippines and Rest of South Asia)
• Oceania (Australia and New Zealand)
• Middle East & Africa (GCC, South Africa, Turkey and Rest of MEA)

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Key questions answered in the report

• How will the low rolling resistance tire market grow in the future?

According to FMI, the global low rolling resistance tire market is expected to post impressive gains through 2021 and beyond, expanding at a strong growth rate. Growth is majorly underpinned by the increasing scramble towards incorporation of sustainable development directives and imposition of stringent regulatory standards governing automotive emission standards

• Which region is likely to account for the maximum growth opportunity?

FMI’s report establishes that the Asian market is likely to post impressive gains in the future, with significant packaging improvement initiatives being visible across the Chinese and Japanese markets. However, North America and Europe are expected to contribute equally attractive revenue shares to the global landscape

• Which is the most preferred low rolling resistance tire width type?

Demand for wide band width low rolling resistance tires is expected to incline significantly over forthcoming years, expected to account for nearly a quarter of the revenue share in the forecast period. Enhanced automotive performance due to even load distribution and greater fuel economy

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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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In 2022, the market for fire-rated cables is projected to be worth US$ 1,915.0 million. The broad range of applications and rising industrial value are anticipated to be the market’s main growth factors. According to projections, global sales of fire-rated cables will reach about US$ 2,655.0 Million by the end of 2032, growing at a strong CAGR of 3.3% between 2022 and 2032.

Fire safety or fire protection cables are categorized as rated flame retardant and fire rated cables Market review. The major difference between flame retardant cables and fire rated cables is that flame retardant cables are designed to only restrict the spreading of a fire by preventing combustion and on the other hand, fire rated cables, also referred to as circuit integrity cables or fire resistive cables, are capable of functioning in the presence of fire for a specified time under defined conditions. These cables are specially designed to maintain circuit integrity during a fire. They are good flame retardants known for their favourable characteristics, such as excellent electrical and mechanical properties.

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Fire rated cables are easy to install cables that play an important role in assuring the orderly shutdown of systems and evacuation of building occupants. Fire rated cables are capable of maintaining continuity as well as circuit integrity of electrical circuits, such as electric heaters, furnaces, ovens, heating & air conditioning equipment, kilns, cooking equipment, appliances, lighting fixtures, fire safety equipment and alarm systems for a longer duration in the event of a fire. The global fire rated cables market is estimated to be driven by safety standards in various commercial and residential buildings as well as standards that ensure the safety of roadway tunnels, refineries and transit systems. A fire rated cable consists of insulation and a fire proof layer that can survive high temperature ranging from 750°C to 950°C.

Fire Rated Cables Market: Dynamics

Drivers

Safety & security regulations, especially in countries, such as the U.S., Europe, and Japan are forecasted to support growth of the global fire rated cables market.

Favorable characteristics, such as the ability to withstand high temperatures (750°C-950°C), low toxicity, non-corrosiveness and low smoke emission during a fire are estimated to drive the global fire rated market.

Restraints

The high cost of fire rated cables, as compared to other fire protection cables may hamper growth of the market, especially in cost sensitive regions, such as Asia-Pacific and Middle East & Africa.

Fire Rated Cables Market: Segmentation

The global fire rated cables market can be segmented on the basis of construction as: single core fire rated cables and multicore fire rated cables.

The global fire rated cables market can be segmented on the basis of type as: unarmored, armored, and braided and others.

The global fire rated cables market can be segmented on the basis of application as: residential application, commercial application and industrial application.

Fire Rated Cables Market: Regional Outlook

The Asia Pacific fire rated cables market is estimated to witness rapid growth, owing to an increase in stringent safety standards and growth in building & industrialization. Europe and North America are estimated to dominate the fire rated cables market over the forecast period, owing to high safety & security measures mandated by governments. The Japan fire rated cables market is estimated to grow at a significant rate, owing to consumer behavior of adopting safety measures.

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Fire Rated Cables Market: Market Participants

Examples of some of the market participants in the global fire rated cables market, identified across the value chain include:

• Prysmian Group
• Nexans S.A
• Elsewedy Electric
• TPC Wire & Cable Corp.
• Relemac Technologies Pvt. Ltd.
• RR Kabel
• RSCC Wire and Cable
• FirstFlex
• Cleveland Cable Company
• Universal Cable (M) Berhad

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About Future Market Insights (FMI)

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

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In 2022, the size of the rental market for Compact Power Equipment was estimated to be worth US$ 107,234.1 million. The market’s main growth drivers are anticipated to be the rising market value and variety of applications.

Compact power equipment rental as a whole is anticipated to grow at a strong CAGR of 6.7% between 2022 and 2032, reaching a value of about US$ 204,453.2 Million by the end of that year.

Compact power equipment includes all tools required for lighter construction jobs. The equipment is small in size and used in developing products with more ease and convenience. These compact power tools are of several types, such as engine-driven power tools, electric power tools and pneumatic power tools. They are used for various operations, such as drilling, polishing, woodwork routing and screw driving.

Compact tools are primarily used for construction-related jobs. These tools are used at construction sites for activities like drilling, hammering, cutting, grinding, washing and blowing types of equipment. Compact power tools are lightweight, small, and easy to handle and transport. However, they are more complex to handle than the commonly used hand tools and require skilled labour, and regular maintenance to avoid tool wear.

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The global compact power tools rental market is expected to grow at a steady rate, as the demand for power tools is on the rise in developing countries. Drivers responsible for the growth of the power tools rental market include increasing demand for the fast accomplishment of projects and increasing infrastructural development activities in developing regions like Asia, where construction companies rent the tools from power tool companies as they cannot afford to invest in power equipment. The challenges ahead include continuous maintenance and the high cost of equipment. Many a time, clients who borrow equipment from companies, damage the tools, which is also a major concern for the power tool rental market.

Segmentation of the compact power tools market is done based on types and geography. Compact tools are of various types like electric power tools, engine-driven power tools and pneumatic power tools. Wherein electric power tool includes cordless tools, drilling & demolition, screw-fastening tools, direct fastening tools, cutting/sawing/grinding tools, dust extractors, glue and heat guns, high-pressure washers and blowers. Key geographic segments for the compact power tools market include North America, Latin America, Asia-Pacific and EMEA (Europe, the Middle East & Africa) region. Asia-Pacific is the most prominent region for compact power tools companies owing to increasing construction and infrastructural development activities in countries like India, Japan and China.

Key trends in the compact power tools market are increasing competition from Chinese manufacturers as Chinese vendors are penetrating this market with their tools at competitive prices as compared to other vendors.

Of the many players in the compact power tools market, Makita Corporation, Bosch, Stanley Black & Decker and Techtronic Industries are the dominant leaders. Other important players include Hilti Group, Panasonic Corporation, Emerson Electric Company, Snap-on Inc., etc. Mergers & acquisitions of key players provide opportunities to expand their product portfolio.

In North America, Bosch acquired SPX Corporation’s Service Solution business which manufactures, develops and sells service equipment and repairs workshop accessories. In Europe, Techtronic Industries acquired Ryobi’s power tools business and Royal Appliance Manufacturing Company, a market leader in North America which develops, markets and assembles cleaning appliances such as vacuum cleaners for domestic as well as commercial use. Emerson Electronics decided to focus on acquisitions and divestitures to increase investment in technology and also have a strong focus to acquire the market in developing countries. This is also because of decreasing demands for their products in Europe and market saturation in the U.S. and China.

The future of compact power equipment is very attractive due to an ever-increasing demand for compact power tools. Due to the saturation of developed markets like Europe, the U.S. and China, players in this market are now moving their focus toward developing or emerging nations.

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This research report presents a comprehensive assessment of the compact power equipment market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data and projections with a suitable set of assumptions and methodology. It provides analysis and information by categories such as market types and geography. The report covers exhaustive analysis on

• Market Segments
• Market Dynamics
• Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved
• Technology
• Value Chain

Regional analysis includes

• North America
• Latin America
• Asia-Pacific
• Japan
• Western Europe
• Eastern Europe
• Middle East & Africa

The report is a compilation of first-hand information, qualitative and quantitative assessments by industry analysts, and inputs from industry experts and industry participants across the value chain. It provides an 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.

Global Compact Power Equipment Rental Market

Report Highlights:

• Detailed overview of the parent market
• Changing market dynamics in the industry
• In-depth market segmentation
• Historical, current and projected market size in terms of volume and value
• Recent industry trends and developments
• Competitive landscape
• Strategies of key players and products offered
• Potential and niche segments, geographical regions exhibiting promising growth
• A neutral perspective on market performance
• Must-have information for market players to sustain and enhance their market footprint.

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