Market Research Blog

The power transformer market exhibited year-on-year growth of 4% in 2021, backed by increasing efforts towards incorporating modern energy solutions in existing power system and high demand of efficient and reliable power supply. Future Market Insights (FMI) states that, power transformer market revenue grew by 10% between 2019 and 2021, reaching US$ 21.9 billion in 2021 with a healthy CAGR of 4.6%.

Power transformers are integral components within power grids as they assist in power transmission between networks without change in frequency and minimum loss. Increasing investments towards expansion of power grid networks and distribution channels to enable electricity access in remote areas will fuel the demand for power transformers in the forthcoming years.

Focus on upgrading the existing power grid network with modern energy technology for flexible, secure, efficient, and reliable supply of power will emerge as a chief growth driver.

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Transformers are critical component in power transmission system as their main function is to receive power with low voltage and transmit it across various distribution channels in power grid. Increasing demand for electricity, increasing investment to expand transmission and distribution network will drive the power transformer market growth in upcoming years.

For instance, as of 2021 Adani power has around 5 ongoing power projects with capacity ranging from 1300 MW to 2700 MW in Indian states of Rajasthan, Madhya Pradesh, Gujarat, Karnataka, and Jharkhand. Rise in number of new power projects in developing countries will boost the market sales over the forecast period.

Rising urgency to replace the aging power infrastructure with smart grid system along with increasing penetration of renewable energy and development of interconnected grid infrastructure are key growth drivers in developed economies.

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Future prospects look promising for power transformer market due to thriving construction and mining industries, emergence of new smart cities with modern power transmission system and adoption of green transformers.

Market players are focusing on developing power transmission systems capable of handling flow of stored and renewable energy throughout the grid system. Advancement towards designing system for efficient management of electricity transmission and distribution as a part of disaster recovery efforts along with redefining electrical grids to reduce operational costs and lead times will positively influence the market growth in the future.

Key Takeaways from FMI’s Power Transformer Market Study

• North America power transformer market is forecast to experience growth at 3% CAGR due to rising necessity to replace old power grid networks with modern and efficient equipment and increasing supply and demand gap of electricity in U.S. and Canada.
• Europe power transformer market is anticipated to grow at 3.2% CAGR during the forecast period. Growth uptick can be attributed to rapid electrification and increasing investment towards upgrading transmission and distribution networks in the region.
• Growing awareness among population regarding CO₂ emission, increase in consumption of electricity, and increasing efforts towards electrification of rural areas will drive the demand for power transformers in India.
• China is expected to offer lucrative opportunities owing to increasing investment in power grid infrastructure development and booming mining and oil and gas industries in the country.
• Japan and South Korea account for 7% of global power transformer market share in 2021. Industrialization, increasing efforts to fill the energy supply and demand gap, and imposition of energy efficient laws and standards are key growth drivers in these countries.

“Increasing demand for upgrading traditional transmission system to sustain high voltage power transfer and incorporation of smart grids will boost the demand for power transformer in upcoming years,” says the FMI analyst.

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Who is Winning?

Future Market Insights highlights the key trends emerging in the power transformer market and discusses the strategies employed by market players to strengthen their market position.

Leading market players account for 35% global market share. They are focusing on new product development like green transformers to reduce the carbon footprint and are also emphasizing on establishing production and supply operations in key high-demand demographics like South East Asia. In addition, key players have been increasing production outputs and moving manufacturing plants to developing countries to reduce lead times and operation costs.

Prominent players operating in the power transformer market are:-

• ABB
• General Electric
• Siemens AG
• Toshiba Corporation
• Schneider Electric

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For instance, in July 2021, General Electric won orders for manufacturing 45 units of 765 kV transformers from Power Grid Corporation of India Limited (PGCIL) for the new sub stations to be constructed in Rajasthan, India. The new transformers will dissipate around 8.1gigawatt (GW) of green power from the state’s solar energy zones.

In March 2021, First Philec Inc. announced to launch super green transformer by the end of 2021. First Philec Inc. is a unit of First Philippine Holdings Corp. and one of the leading manufacturers of high efficiency transformers in South East Asia region. The super green transformer will be made of recyclable and biodegradable materials.

Hitachi ABB Power Grids launched two new traction transformers, “RESIBLOC® CRail 25 kV” and “Natural Cooling Effilight® Traction Transformer” in June 2021. The latter model replaces traditional cooling module with natural airflow system. It uses a state of the art cooling system that harnesses natural air flow from the train’s motion and sends it to heat exchanger thus eliminating the need for air fans.

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Key Segments Covered In Power Transformer Market Study

By Product Type:

• Core
• Shell

By Insulation Type:

• Dry
• Wet

By Phase Type:

• Single Phase
• Three Phase

By End Use:

• Residential & Commercial
• Utilities
• Industrial

By Voltage Type:

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

By Application Type:

• Generation Step-up
• Transmission

By Region:

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

About Future Market Insights (FMI)

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

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A new market research report by Future Market Insights on the commercial RAC PD compressor market is slated to top US$ 5.1 Bn in 2022, likely to surge at a vigorous 4.0% CAGR during the assessment period 2022 – 2028.

The report investigates the commercial RAC PD compressor market and provides key insights over the forecast period of 2019-2029. A rise in food & beverage production, coupled with the growth of cold chain capacities to ensure efficient storage of food, is anticipated to support the demand for commercial RAC PD compressors, worldwide, over the forecast period.

The global commercial RAC PD compressor market is estimated to reach ~US$ 4.5 Bn in 2019 and increase at a CAGR of ~4% over the forecast period of 2019-2029. This growth is majorly driven by the replacement of old commercial RAC PD compressors and innovation in compressor technology.

As several government policies continue to support the production and usage of environment-friendly refrigerants, commercial RAC PD compressor manufacturers are leveraging energy technologies to offer cost-efficient products with lower carbon footprint, reports the FMI study.

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East Asia Commercial RAC PD Compressor Market Attractiveness Rising

Regions such as East Asia, North America and South Asia, are projected to capture substantial market shares in terms of value. However, the East Asia commercial RAC PD compressor market is estimated to project lucrative growth during the forecast period of 2019-2029. This growth is driven by the rapid increase in cold storage food trucks in countries such as China, South Korea, and Japan.

Moreover, significant changes in living standards and improving macro-economic scenario have led to a substantial surge in the number of organized retail stores, worldwide. The prompt growth of the organized retail sector considered by the rise in the number of hypermarkets, supermarkets etc., is anticipated to drive the growth of the overall food chain, that in turn, is expected to boost the sales of commercial RAC PD compressor for refrigerated display cases and other refrigeration equipment. The commercial RAC PD compressor market is likely to grow at a significant rate during the forecast period, supported by the increase in the number of retail stores across the globe.

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Supermarkets and Convenience Stores to Remain Key End-Use Sectors of Commercial RAC PD Compressor

The global market of commercial RAC PD compressors has been segmented based on different types of Commercial RAC PD compressors, their multiple applications, and regions such as Latin America, North America, Europe, East Asia, South Asia, and Oceania and MEA.

By refrigeration, the commercial RAC PD compressor market has been categorized into R134A, R290, R410A, R744, R404A, R407C, and others. Among these, the R410A segment is expected to grow at a high pace, owing to its various advantages such as stretched cooling capacity, better efficiency, and size reduction of the compressor

By product type, the commercial RAC PD compressor market is segmented into reciprocating and scroll compressors. The reciprocating compressor accounts for nearly 64% value wise share, on account of its wide application in various commercial refrigeration equipment in the global commercial RAC PD compressor market.

Commercial RAC PD Compressor Market: Vendor Insights

The report highlights some of the prominent market players, who have established themselves as leaders in the global Commercial RAC PD Compressor market such as are The Danfoss Group, Huayi Compressor Co., Ltd, Midea Group, Emerson Electric Co., Nidec Corporation, Mitsubishi Electric Corporation, Panasonic Corporation, United Technologies, Corporation, GEA Group AG, MAYEKAWA MFG. CO., LTD.

The global Commercial RAC PD Compressor market is significantly consolidated with some players holding prominent shares of the market. Tier-1 manufacturers account for ~15%-20% of the global market with revenue from the Commercial RAC PD Compressor market of ~US$ 800Mn. Tier-1 manufacturers includes are The Danfoss Group, Huayi Compressor Company Ltd. and United Technologies Corporation

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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Worldwide sales of bandsaw machines is estimated to total ~ 200 thousand units in 2022, with an estimated increase of ~ 3.9% year over year, according to the recent research study published by Future Market Insights (FMI). The bandsaw machines market is set for an unwavering growth through 2029, primarily driven by growing focus on effective cutting technologies that promise high functionality for varying applications.

However, limitations in terms of producing perfectly-shaped curved edges continues to threaten the relevance, thereby adding new uncertainties to the near-term outlook of bandsaw machines.

Industrial technologies are currently experiencing a seismic shift from the conventional technologies to bandsaw machines. The primary reason behind this trend reversal is an ever-increasing demand for flexibility during cutting applications that comes from the end users, which will further help them serve requirements of their customers in a much more efficient way.

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The FMI analyst opines that there are signs of a majority of the industries moving towards ‘energy efficiency’, which marks positive beginnings for the adoption of bandsaw machines market during the assessment period.

The global bandsaw machines market reflects a fair degree of fragmentation, with a handful of market players accounting for approximately 29-31% revenue share. However, the mid-level and emerging players will command for a major chunk of overall market share i.e. 69-71%, and will remain focused toward extending their sphere of influence via affordable products with ‘best-in-class’ features.

To align with end user proclivity for high-quality bandsaw machines that bring down operational and maintenance costs, manufacturers are placing emphasis on use of high-cost components and working toward reduction of blade changeover downtimes.

According to the FMI analyst, the market players are also shifting their strategic focus toward the development of differentiated and customized bandsaw machines that are suited to varying end-user needs and requirements.

According to the FMI analysis, fully-automatic machines accounted for more than 1/3^rd of the bandsaw machines sales in 2021, with a tough competition by semi-automatic bandsaw machines. Though end-users will remain biased toward bandsaw machines with horizontal orientation, the ones with vertical orientation will witness exponential demand through 2029.

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While the former offers benefits of easy mobility and transportation, the latter offers better visibility on account of the enhanced accessibility. Automotive and transportation will continue to account for a significant pie of the overall market revenues in 2022, standing firmly as the largest end-user of bandsaw machines.

Competitive Landscape:

Key companies in the global Bandsaw market are focusing on launching novel products and services to expand their service portfolio. Some of the players are also aiming at merger and acquisition to gain competitive edge.

• Starrett
• AMADA Machine Tools Co. Ltd.
• Mega Machine Co. Ltd.
• Pedrazzoli IBP
• Everising Machine Co.
• Petra Stroji D.O.O.
• MEBA Metall-Bandsagemaschinen GmbH
• Santec Group
• Cosen Saws International Inc.
• ITL Industries Limited
• Behringer GmbH
• Soitaab Impianti SRL
• Multicut
• Kasto Machinenbau GmbH & Co. KG.
• Others

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Online Channel: The New Pacemaker for Sustained Revenue Growth

With ‘online’ emerging as the new synonym of ‘convenience’ and ‘flexible purchasing’, manufacturers are investing in online sales channels to gain maximum ROI. The growth of online sales is the consequence of dramatic shifts in purchase habits of end users, who seek high-quality bandsaw machines available at the best of prices. The growing number of well-informed customers are calling for reliable information on the product integrity, which also works in favor of online channels that include detailed product descriptions for the consumers’ reference.

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The global walk-in coolers and freezers market is estimated to be worth around US$ 9.52 Bn in 2022. With rising trend of installing customized walk-in coolers and freezers, the overall market is projected to expand at a robust CAGR of 5.7% between 2022 and 2029, reaching a valuation of US$ 14.05 Bn by 2029.

Consumer acceptance of frozen and processed foods, as well as an increase in demand for efficient refrigeration facilities to store and maintain the shelf life of these products, point to a brighter future for the walk-in coolers and freezers market. Future Market Insights (FMI) estimates global sales of walk-in coolers and freezers at $8.6 billion in 2022 in its new report.

The growing penetration of walk-in coolers and freezers in developing regions is opening up new growth opportunities in the global walk-in coolers and freezers market. These refrigeration products are becoming more popular as a result of their increased capacity to store and preserve sensitive products while also extending their shelf life.

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Digitalization and smart technologies continue to influence numerous product developments and demand-side dynamics, and walk-in coolers and freezers are no exception. As consumers show marked preference for efficient yet custom-sized units, manufacturers are leveraging technological advancements to develop unique product features that fulfil specific customer requirements.

“Walk-in coolers and freezers are witnessing transformations under the influences of smart technologies and digitalization, and consumer preference for customized yet efficient equipment has led manufacturers to emphasize application-specific features in new product development”.

According to the study, key players in the walk-in coolers and freezers market also remained focused on improving energy efficiency of their products, considering the continuous changes in energy conservation standards for various commercial and industrial equipment including walk-in coolers and freezers. These players are continuously putting efforts on improving quality of their offerings, while investing in innovative developments that would yield substantial improvements for customers.

Walk-in coolers and freezers with self-contained refrigeration continue to account for higher share as compared to remote condensing and multiplex condensing. Considering the suitability of self-contained refrigeration in almost any application along with ease of service and maintenance, this category also continues to witness higher innovation and investments.

According to the study, the walk-in coolers and freezers market shows a high level of fragmentation, and therefore, several market players are focusing on forging strategic alliance with other players to improve their market shares. Manufacturers are also focused on offering products that can be custom designed to fit any settings along with several add-on features to increase convenience and ease-of-use.

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FMI’s research study also offers a long-term perspective and thorough analysis on opportunities present in the walk-in coolers and freezers market for the period between 2022 and 2029. As per the study, the global walk-in coolers and freezers market is projected to register a CAGR of 5.6% during the forecast period.

Gains Remain High from Commercial Kitchens & Restaurants

Walk-in coolers and freezers continue to gain high traction from commercial kitchens and restaurants, which are widely used to preserve raw foods and grocery items. As international fast food chains and café outlets continue to explore opportunities in various attractive destinations, demand of walk-in coolers and freezers has been on an upward swing across the globe.

North America and Europe have been the early adopters of commercial kitchens and restaurants; however, they are reaching their saturation point. Walk-in cooler and freezer manufacturers are tapping into opportunities in developing countries in East Asia, where multi-cultural environment, changing eating habits, and rising disposable income have opened avenues of growth for commercial kitchens and restaurants. Moreover, walk-in coolers and freezers market in East Asia is likely to take over the Europe market in the future.

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Walk-in Coolers and Freezers Market by Category

Product Type:

• Walk-in Cooler
• Walk-in Freezer
• Combo (Freezer + Cooler)

Place of Use :                     

• Indoor
• Outdoor

Technology :

• Self-Contained
• Remote Condensing
• Multiplex Condensing

Door Type :

• Hinged
• Power Sliding
• Manual Sliding

Application :

• Cold Storage Warehouse
• Breweries
• Commercial Kitchen & Restaurants
• Floral Storage
• Pharmaceuticals
• Chemicals
• Research laboratories
• Hospitals & Mortuaries
• Mobile Refrigeration System
• Retail Food & Beverage
  • Supermarket
  • Hypermarket
  • Convenience Stores
• Other Stores

Sales Channel :

• OEM
• Aftermarket

Mounting Type :

• Floor
• Non-floor

Region :

• North America
• Europe
• Latin America
• South Asia
• Oceania
• East Asia
• Middle East & Africa (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 7-years.

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The global magnetic separator market is estimated to reach US$ 1.3 Bn in 2022. Increasing use of magnetic separators to remove unwanted particles during the metal recycling processes across diverse industries is propelling the demand in the market. Driven by this, the market valuation is set to reach US$ 1.7 Bn in 2029.

The global Magnetic Separator Market is estimated to witness modest growth in 2019, and reach a market value of around US$ 1,200 million, while registering a Y-o-Y growth rate of nearly 3.0% over that attained in 2018. Additionally, the global sales of magnetic separators are expected to be fuelled by growing mining and several processing industries across the globe.

Magnetic separator is a type of separation and sorting equipment, mainly used for separating magnetic minerals mixed in non-magnetic minerals such as removal of metallic and ferrous materials from a mixture with the help of magnetic force.

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Oceania Emerging as a High Potential Storehouse of Opportunities

In the past five years, the Oceania region witnessed substantial growth in mineral production. In 2012, the Oceania region accounted for a share of 5.1% in the global mineral production, while in 2017, the Oceania region accounted for a share of more than 7.0%. Increasing mineral production in the region is expected to increase the demand for mineral sorting and separation equipment. Consequently, increasing the demand for magnetic separators.

The rising number of metallic contamination incidents in several food and beverage products have triggered a great demand for enhanced safety. Government authorities have formed several regulations to improve the operational safety and thus, there has been a greater demand for high performance magnetic separators in the food and beverages processing industry.

The East Asia market is expected to dominate the global magnetic separator market, owing to its relatively large consumption for separation and sorting equipment in mining and other industries. North America and Europe magnetic separator markets are expected to experience modest growth, owing to being mature magnetic separator markets.

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Countries/regions such as Australia, Japan, India, Brazil, and ASEAN being at the forefront in the mining industry are expected to generate significant opportunities in the global magnetic separator market. Significant growth in demand for magnetic separators is also anticipated to be witnessed in countries of Middle East and Africa, owing to substantial requirement for separation and sorting equipment such as magnetic separators in mining, chemicals, cement, steel, and other industries.

Magnetic Separator Market by Category

Product:

• Magnetic Drum Separator
• Magnetic Roller Separator
• Over band/Cross Belt Separator
• Magnetic Pulley Separator
• Coolant Separator

Intensity:

• Low Intensity
• High Intensity
• High Gradient

Material Type:

• Wet Type
• Dry Type

Cleaning Type:

• Self-Cleaning
• Manual Cleaning

End-Use Industry:

• Recycling
• Processing Industries
• Metal & Mineral Mining

Region:

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

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Some of the key manufacturers involved in the magnetic separator market are Eriez Manufacturing Co, Nippon Magnetics, Inc., LONGi Magnet Co., Ltd, Metso Corporation, Outotec Oyj, Noritake Co., Limited, A AND A MAGNETICS, INC, SLon Magnetic Separator Ltd., KANETEC CO.,LTD., Shandong Huate Magnet Technology Co., Ltd, Douglas Manufacturing Co., and Inc., among others.

Explore wide-ranging Coverage of FMI’s Industrial Automation Market Insights Landscape

Micro Irrigation Systems Market: Micro irrigation systems market is expected to grow at an exponential rate of more than 13% CAGR through the end of 2031

Vibration Control Systems Market:  Vibration control system manufacturers bringing in a flurry of products, Future Market Insights (FMI) expects outlook to be bullish during the period 2021-2031

Industrial Vacuum Cleaners Market: The global industrial vacuum cleaners market is estimated at US$ 569.1 Mn by 2022 and is expected to reach US$ 771.2 Mn by 2028, at a CAGR of 5.2% from 2022 to 2028

Magnetic Separator Market: The global magnetic separator market are projected to rise at a CAGR of 3.8% over the forecast period 2022-2029

Underground Mining Equipment Market: The global underground mining equipment market is expected to reach US$ 15.9 Bn in 2022. With sales growing at a steady 2.4% CAGR, the market valuation is projected to reach US$ 18.8 Bn in 2029

Elevator and Escalator Market:  Global elevator and escalator consumption is anticipated to increase at a 4.5% CAGR from 2022 to 2030

Test and Measurement Equipment Market: The global test and measurement equipment market is predicted to witness a moderate CAGR of 5.6% during the forecast period of 2022 to 2032.

Testing, Inspection, and Certification Market: The testing, inspection and certification market is anticipated to register a CAGR of 1.8% during the forecast period.

RFID Kanban Systems Market: The Global RFID kanban systems market size to reach US$ 1.6 Billion in 2022. With a favorable demand outlook, sales are forecast to increase at an impressive 18.1% CAGR, reaching US$ 8.4 Billion by 2032.

Industrial Cybersecurity Market : The industrial cybersecurity market is anticipated to record a CAGR of 7.7% during the forecast period (2022 – 2032)

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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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According to a new research report published by Future Market Insights (FMI), the automotive battery management system market is estimated to reach US$ 15.3 Bn by the end of 2029.

In the near future, electric vehicles will dominate the clean vehicle market, and necessitate demand for revolutionary battery management systems. Steadily growing demand for battery management systems in e-bikes as well as electric cars will squarely surge market growth.

 “In the foreseeable future, advancements in battery management systems will contribute towards extending vehicle range, while simultaneously improving battery life and safety. All major OEMs are ambitiously planning to boost electric vehicle production, which is projected to create significant opportunities for the global automotive battery management system market.”

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Key Takeaways of Automotive Battery Management System Market Study

• Consumer demand across the globe is beginning to bend in favor of electric vehicles, and has strong disruption potential with governments providing purchasing incentives and subsidiaries.
• With the dawn of electro-mobility and the resulting increase in EV production, automakers are offering tailored electric vehicles with modification in battery management systems.
• APEJ is anticipated to remain the fastest-growing region in the automotive battery management system market during the forecast years, owing to several countries encouraging the usage of EVs. China leads the global fleet of electric vehicles.
• Hybrid electric vehicles hold more than two-third of the global EV fleet. Increasing sales of HEVs are foreseen to fuel the demand for battery management systems in the future.
• Electric vehicle fleet is significantly low as compared to ICE vehicles. As a result, the OEM sales channel is projected to retain its prominence throughout the forecast period.
• Although centralized BMS account for a lion’s share in the global market, modular BMS are expected to witness high growth due to its superior functional benefits over its counterparts.

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AUTOMOTIVE BATTERY MANAGEMENT SYSTEM MARKET TAXONOMY

The global automotive battery management system market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.

Vehicle Type

• Electric Vehicles
• Passenger Cars
  • HEVs
  • PHEVs
  • BEVs
• Commercial Vehicles
  • HEVs
  • PHEVs
  • BEVs
• Golf Carts
• E-Bikes

Connection Topology

• Centralized
• Distributed
• Modular

Sales Channel

• OEMs
• Aftermarket

Region

• North America
• Latin America
• Western Europe
• Eastern Europe
• APEJ
• Middle East & Africa
• Japan

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Automotive Battery Management System Market: Competition Overview

The global automotive battery management system market is moderately consolidated, with a number of global as well as regional players operating in it. Analog Devices, Inc., Continental AG, Johnson Matthey Plc, and Robert Bosch GmbH are identified as prominent players in the global automotive battery management system market.

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The commercial refrigeration compressor market was estimated by Future Market Insights (FMI) to be worth US$ 8,567.6 Mn in 2022 and to grow at a CAGR of 4.3% to US$ 13,090.8 Mn by 2032. Over the projected period, it is expected that use of natural and energy-efficient refrigerants will continue to rise.

About 25–35% of the total market for refrigeration compressors is made up of the commercial refrigeration compressor market globally (including industrial and residential).

The South Asia and Pacific region is anticipated to expand at a CAGR of 5.4% over the following few years. During the assessment period, ASEAN and India, two important economies in the region with strong growth in the emerging retail sector, are expected to grow at a CAGR of between 6% and 8%.
By 2021, the top 3 nations—the United States, China, and Germany—will account for nearly 34% of the global market for commercial refrigeration compressors. Growth in this area is still significantly influenced by urbanisation. Retailers have more opportunities to make sales as cities continue to expand and their residents become more prosperous.

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The rapid growth of the organized retail sector characterized by the rising number of supermarkets, hypermarkets, etc., is projected to drive the growth of the overall food chain, which, in turn, is estimated to boost the sales of commercial refrigeration compressors for refrigerated display cases and other refrigeration equipment.

Commercial Refrigeration Compressors Market Analysis by Region

From a regional perspective, East Asia is a projected to be a prominent market, owing to significant growth of retail stores in the region. Europe is projected to hold a value share of around 19% in the global commercial refrigeration compressors market.

The market in Asia Pacific is anticipated to expand at a relatively high growth rate, owing to the increasing demand for refrigerated display cases, beverage vending refrigeration systems, etc., which, in turn, is projected to drive the demand for commercial refrigeration compressors in the market.

The commercial refrigeration compressors market in China is expected to be a lucrative market, and is projected to grow at a value CAGR of nearly 6% during the forecast period.

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By Key Segment:

Type :

• Reciprocating
• Rotary
• Scroll
• Screw
• Centrifugal

Cooling Capacity :

• Upto 1 kW
• 2-6 kW
• 7-10 kW
• 11-15 kW
• 16-20 kW
• 21-30 kW
• 31-40 kW
• Above 40 kW

End Use :

• Transport based Refrigeration System
  • Shipping Based
  • Truck & Trailer Based
• Walk-in-Refrigerators and Freezers
• Reach-in-Refrigerators and Freezers
• Beverage Vending Refrigeration System
  • Drinking & Soda Fountains
  • Beverage Cooling & Dispensing Equipment
  • Beer Dispensing Equipment
• Refrigerated Display Cases
• Ice Machines
• Refrigerated Vending Machines

Refrigeration :

• R290
• R404A
• R410A
• R744
• R134A
• R407C
• Others (R600A, etc.)

Region :

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

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Commercial Refrigeration Compressors Market: Vendor Insights

The report highlights some of the main companies that are operating in the global commercial refrigeration compressors market, such as Emerson Electric Co., HUAYI COMPRESSOR CO., LTD., Mitsubishi Electric Corporation, LG Electronics, Inc., The Danfoss Group, Panasonic Corporation, BITZER SE, GEA Group AG, Frascold S.p.A., Fusheng Co., Ltd., Nidec Corporation, Midea Group, Officine Mario Dorin S.p.A., Johnson Controls – Hitachi Air Conditioning, and Tecumseh Products Company LLC.

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 7-years.

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Future Market Insights (FMI) has recently published a report titled “Aircraft Exterior Lighting Market: Global Industry Analysis 2012–2016 and Opportunity Assessment 2022–2027.” The report states that a progress in the aircraft industry and the growing aviation industry are the core factors impacting the growth of the global aircraft exterior lighting market. According to the analysis, the market is expected to exhibit a CAGR of 3.8% over the course of the forecast period and reach a valuation of around US$ 624 Mn by the end of 2027.

Manufacturers are concentrating on the introduction of new application-specific products in order to better address the requirements of specific aircraft. Furthermore, market players are found to be channelizing efforts towards consolidating their delivery channels while keeping focus centred on direct sales. Companies like Rockwell Collins cater to the demands of both domestic and international customers by maintaining a steady focus on R&D. However, backlog projects remain a threat for several companies. Some of the other leading companies operating in the market are United Technologies Corp., Honeywell International Inc., Zodiac Aerospace S.A., Diehl Aerospace Gmbh, Aveo Engineering Group, s.r.o., Whelen Engineering Co., Inc., Astronics Corporation, and Cobham plc.

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Expanding Fleet Sizes to Boost Demand for Aircraft Exterior Lighting

The number of air passengers has risen extensively in Asia Pacific owing to the liberalisation of markets and development in the wealth and size of the middle class. In current decades, Asia has emerged as a chief region in aviation traffic and is anticipated to remain resilient in the coming decade. The economic and monetary growth in large emerging markets such as China and India has been a primary driver for global GDP growth and further for the aviation industry as well. Over the years, China has contributed significantly to world traffic growth as its passenger growth has increased at a noteworthy rate. India’s emergence as a high-growth economy is expected to give rise to one of the largest commercial aviation markets in the coming decade. As a result, the fleet size of airline owners especially those following a low cost business model is expected to surge significantly leading to a rise in the demand for aircraft components worldwide. Consequently, the demand for aircraft exterior lighting is anticipated to intensify over the coming years.

However, stringent regulations are likely to act as a roadblock in the growth of the market in the near future. Regulations concerning pollution produced by aeroplanes will become more stringent in the coming years as most of the countries have agreed to reduce the impact of greenhouse gases. The number of aeroplanes coming to the refurbishing point will significantly decline if aircraft owners choose to retire their aircraft and buy a new fleet instead of opting for refurbishing the old aircraft, to clear regulations listed by authorities. This may negatively impact the aircraft exterior lighting market.

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Aircraft Exterior Lighting Market: Segmentation

Product

• Landing Lights
• Anti-collision Lights
• Position Lights
• Other Exterior Lights

Aircraft

• Narrow Body
• Wide Body
• Large Body
• Single Aisle
• Regional Jets
• Helicopters
• Air Cargo
• Business Jets

Sales

• Original Equipment Manufacturer (OEM)
• Aftermarket

Region

• North America
• Latin America
• Eastern Europe
• Western Europe
• South East Asia & Pacific
• MEA
• China
• India
• Japan

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Original Equipment Manufacturers to Benefit from a Growing Demand from Single-aisle Aircraft

The market penetration of low-cost carriers is expected to remain high in the coming years. There are new growth opportunities via the low-cost and long-haul business mode. Liberalisation in intra-regional traffic and open skies with China would also contribute to market growth. As a result, OEMs will find a plethora of opportunities arising from this sector.

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.

Contact:

Future Market Insights, Inc.
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Suite 401, Newark, Delaware – 19713, USA
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