Precision Gearbox Machinery Market Set to Witness an Uptick Size US$ 6.69 billion to 2032: Future Market Insights, Inc.

With an estimated CAGR of 6% during the projected period, the precision gearbox machinery market is expected to reach US$ 9.49 Bn by 2032, finds a recent report published by FMI. The study finds that technological developments by manufacturing industries improve energy efficiency, accuracy, and reliability in operations.

Many businesses are working on employing robotics to automate the assembly line. Precision gears with high torque and little noise are used by these robots for accurate picking and positioning of things. Precision gearboxes enable maintenance-free construction, high load capacity, and compact design robots, according to market players.

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The adoption of precision gearbox machinery will rise as the demand for automating the manufacturing process grows in order to enhance productivity and eliminate errors and delays. Precision gearbox machinery with customized features is gaining popularity in the industry to meet application-specific needs.

Moreover, the temporary shutdown of industrial units during the lockdown period, the COVID-19 pandemic, had a significant influence on the precision gearbox machinery industry in the first half of 2020.

During the second half of 2020, the market saw a jump in product sales, owing to the digitization of manufacturing processes in numerous industries. This has resulted in a major increase in demand for precision gearbox machinery, which aids in the design of automobile transmission systems.

Manufacturers are fully integrated and involved in the distribution and supply of their products. As a result, the manufacturers are able to increase their market share and strengthen their market position. Furthermore, manufacturers prefer a consultative approach to deliver the best solutions and satisfy the particular needs of their customers.

On account of the factors stated above, the precision gearbox machinery market size is expected to rise to US$ 2.4 Bn by 2026.

Key Takeaways

  • The increasing agriculture sector is expected to propel the India precision gearbox grinding machinery market to 9% growth through 2028.
  • The spike in demand for advanced packaging equipment used in pharmaceutical manufacturing is expected to push the planetary precision gearbox machinery market in the United States to grow at a rate of roughly 6% until 2028.
  • In 2020, the robotics application category dominated the market, accounting for over 19.0% of total revenue.
  • In 2020, Asia Pacific dominated the precision gearbox market, accounting for 64.0% of total revenue. The increased use of robotics and automation technology, as well as modern material handling equipment, in numerous industries such as cement, metallurgy, and machine tools, has contributed to this expansion.

Competitive Landscape

DANOBAT S. Coop, DMG MORI AKTIENGESELLSCHAFT, DVS Technology Group, EMAG GmbH & Co. KG, Gleason Corporation, Lagun Engineering, Liebherr-International Deutschland GmbH, Matrix Precision Co., Ltd., Nidec Corporation, Reishauer AG, Samputensili Cutting Tools S.r.l., J.G. WEISSER S.r.l., and Starrag Group Holding AG are some of the major key players in the market

Industry leaders are concentrating their efforts on research and development in order to introduce innovative precision gearbox machinery and expand their product offerings.

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Precision gearbox machinery manufacturers are concentrating on providing customized goods and services for a variety of industries, including robotics, packaging, automobiles, and material handling, among others.

  • To suit end user expectations, key industry participants invest extensively in product innovation and customized products. The launch of a tiny and miniature-sized exact line-up of gearboxes used in robotics and motion control industrial applications is the result of continuous design research and development.
  • Key industry players are likely to maintain their market position by releasing new items and therefore growing their product portfolio. The industry participants’ positions are likely to be strengthened by product launches with sophisticated features and tailored product offers.

Key Segments

By Manufacturing Process:

  • Hobbing
  • Grinding
  • Turning
  • Honing

By Product:

  • Planetary
  • Right Angle
  • Parallel

By Application:

  • Machine Tools
  • Material Handling
  • Packaging
  • Robotics
  • Automobile
  • Off-Road Vehicles
  • Wind Towers
  • Agriculture
  • Railways
  • Marine

Key Questions Answered in the Report

  • How is the Growth Outlook for the Precision Gearbox Machinery Market?
  • What was the Precision Gearbox Machinery Market Size in 2022?
  • How much is the Adoption Potential of Precision Gearbox Machinery Market?
  • Which Region Leads the Global Precision Gearbox Machinery Market?
  • What will be the Size of the Precision Gearbox Machinery Market by 2032?

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Alternatives For Injectable Diabetes Care Market 2022 Outlook, Current and Future Industry Landscape Analysis 2026

Furthermore, rising adoption of technologically advanced products such as artificial pancreas and insulin pumps are expected to drive the growth of the global alternatives for injectable diabetes care market between 2016 and 2026. However, the high cost of technologically advanced products compared to injectable diabetes care products may be a barrier to the growth of the injectable diabetes care market.

Diabetes, also known as diabetes mellitus, is a group of metabolic disorders characterised by a persistently elevated blood sugar level. The pancreas is either unable to produce insulin (glucose metabolising hormone) or the body is unable to utilise the produced insulin (development of insulin resistance) to metabolise blood sugar in this disorder. Diabetes is one of the world’s most serious health issues, affecting more than 5% of the population in developed countries.

Furthermore, diabetes prevalence rises in emerging economies as lifestyles change. Diabetes diagnoses are increasing at a rate of 5% per year, according to estimates. Thus, one of the major factors driving the growth of the diabetes care market is the rapidly increasing prevalence of diabetes around the world.

Diabetes care products that do not require injections, such as insulin pumps and artificial pancreas, assist patients in managing diabetes treatment efficiently and without the need for doctor assistance. Furthermore, because of the improved outcomes associated with the use of these alternatives to injection devices, there is a growing awareness of their use among both physicians and patients.

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Alternatives for Injectable Diabetes Care Market: Drivers and RestraintsThe growing number of diabetic patients worldwide is driving demand for diabetes monitoring, diagnostic, and insulin delivery devices and drugs, which will drive growth in the global alternative for injectable diabetes care market over the forecast period.

According to the International Diabetes Federation (IDF), approximately 382 million people worldwide suffered from diabetes in 2013, with this figure expected to rise to 592 million by the end of 2035. Furthermore, needle phobia and an increase in needle stick injuries are driving the preference for alternative diabetes injection devices.

Alternatives for Injectable Diabetes Care Market: OverviewIncreased efficiency with fewer side effects, as well as ongoing research on improving the quality of diabetes care for continence, are expected to create appealing growth opportunities for the global market for injectable diabetes care alternatives. In terms of value, insulin pumps are expected to dominate the market during the forecast period.

In terms of revenue, the hospitals pharmacy distribution channels segment is expected to hold the largest market share in the global market for alternative injectable diabetes care products.

Alternatives for Injectable Diabetes Care Market: Regional OverviewThe global market for injectable diabetes care alternatives is divided into six regions: North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan, the Middle East, and Africa. Because of a high adoption rate of advanced technological products, North America dominated the global market for alternative for injectable diabetes care products in terms of value and volume.

In the forecast period from 2016 to 2026, Western Europe, Japan, and Asia Pacific excluding Japan are expected to drive demand for the global alternative for injectable diabetes care products at a rapid pace.

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Alternatives for Injectable Diabetes Care Market: Key PlayersAnimas Corporation, F. Hoffmann-La Roche AG, Insulet Corporation, Medtronic plc, Valeritas, Inc., and others are among the key players in the global alternatives for injectable diabetes care market. The majority of insulin pump product providers are adopting the strategy of selling these products through e-commerce, so that buyers can browse the products based on their needs.

Alternatives for Injectable Diabetes Care Market: SegmentationThe global alternatives for injectable diabetes care market is classified on the basis of product type, distribution channel and geography.

Based on product type, the global alternatives for injectable diabetes care market is segmented into the following:

  • Insulin Pumps
  • Untethered insulin pumps
  • Implantable insulin pump
  • Tethered insulin pumps
  • Artificial Pancreas
  • Insulin Patches

Based on distribution channel, the global alternatives for injectable diabetes care market is segmented into the following:

  • Hospital Pharmacy
  • Retail Pharmacy
  • Online Sales
  • Diabetes Clinics/ Centers

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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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Bot Services Market is Expected to Increase at US$ 18 Bn by the year 2032 | FMI

The global bot services market stands at US$ 1.6 Bn at present and is expected to reach US$ 18 Bn by the year 2032 at a whopping CAGR of 27.1% between 2022 and 2032.

The e-Commerce and BFSI sectors are more into usage of chatbots. Enterprises do adopt chatbots for internal tasks as well as customer service. One of the catalysts to bot services market is growing demand for feature phones along with incorporating advanced NLP and AI techniques. Urbanization and digitization have revolutionized the world, and bot services have played a vital role. Efforts are also being made for standardizing the ecosystem worldwide.

Various service companies did turn into bots during the pandemic, so as to help the clientele resolve issues without any propagation delay. The healthcare industry did see a spike in the sales of chatbots during the pandemic era. Several public healthcare and commercial websites made use of chatbots for diagnosing isolated patients and getting basic healthcare assessment done.

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On these grounds, the WHO, in April 2020, came up with chatbots on Fb messenger for providing precise information about Covid-19. Future Market Insights has walked through these facts with probable calls to action in its latest market study entitled ‘Bot Services Market’.

Key Takeaways from Bot Services Market

  • North America holds the largest market share due to the US being home to hordes of IT companies.
  • Europe is at the matured stage in bot services market and expected to show this consistency in the upcoming period.
  • The Asia-Pacific, led by India, Japan, and China, is expected to be the fastest growing region in bot services market in the near future.

Competitive Landscape

  • Microsoft Corporation, in January 2021, did announce transitioning Microsoft healthcare Bot Service to ‘Azure’ to enable customers to take an advantage of the latter’s improved tools, compliance, and security features.
  • Poynter Institute’s IFCN (International Fact-Checking Network), in May 2020, came up with Whatsapp-enabled chatbots for providing access to translated network comprising over 80 fact-checking organizations across the globe.
  • Alvaria, in June 2022, put forth its very first native product called ‘Alvaria CX Suite’, which comes across as combination of Noble Contact Center and Unified IP/Advanced List Management from Aspect. CX suite has been rounded out with self-service, omnichannel, fraud detection capabilities, and compliant outreach.
  • Meta, in February 2022, launched the latest innovation regarding Universal Speech Translator, wherein it would be extending support to languages sans standard writing system (both – spoken and written).
  • Baidu, in November 2021, tabled PLATO-XL. It’s an AI model meant for dialogue generation. At present, it does outperform existing commercial chatbots on several conversational benchmarks, thereby showing exceptional performance.
  • Mindsay, in April 2021, used Genesys App Foundry for publishing AI chatbots. The agents are likely to quickly leave and engage in conversations with the customers through chatbot interface by integration of Mindsay chatbots with Genesys Cloud, that too, day in day out.
  • Yellow Messengers, an AI chat bot firm, did receive US$ 20 Mn in April 2020 from an investor for fulfiling the growing need of the market.

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“With internet penetration witnessing an exponentiation, the global bot services market is likely to grow inadvertently in the forecast period”, says an analyst from Future Market Insights.

What are the inclusions of Bot Services Market Report?

  • Future Market Insights offers an exclusive perspective and various real-time insights on the bot services market in its latest study, presenting historical demand assessment of 2016 – 2021 and projections for 2022 – 2032.
  • The research study is based on service (platform and framework), by mode of channel (website, contact centers, social media, and mobile applications), by business function (sales & marketing, human resource, finance, supply chain & logistics, and IT), by application (customer engagement & retention, workforce management, agent performance management, content management, appointment scheduling, employee on-boarding, and others), by deployment mode (on-premises and cloud), by organization size (SMEs and large enterprises), and by vertical (BFSI, retail & e-Commerce, healthcare & life sciences, media & entertainment, travel & hospitality, IT telecom, government, and other verticals).
  • Bots let users add various intelligent agents communicating without investment of money and time in incorporating AI of their own.

Bot Services Market Segmentation

By Service:

  • Framework
  • Platform

By Mode of Channel:

  • Website
  • Contact Centers
  • Social Media
  • Mobile Applications

By Business Function:

  • Sales & Marketing
  • Human Resource (HR)
  • Finance
  • Supply Chain & Logistics
  • Information Technology (IT)

By Application:

  • Customer Engagement & Retention
  • Workforce Management
  • Agent Performance Management
  • Content Management
  • Appointment Scheduling

By Deployment Mode:

  • On-premises
  • Cloud

Organization Size:

  • Large Enterprises
  • SMEs

Verticals:

  • BFSI
  • Retail & e-commerce
  • Healthcare & Life Sciences
  • Media & Entertainment
  • Travel & Hospitality
  • IT & Telecom
  • Government
  • Other Verticals

By Region:

  • North America
  • Latin America
  • Europe
  • APAC
  • MEA

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Industrial Automation Market Future Scenarios, Growth and Analytical Insights – 2032

The global Industrial Automation Market is expected to have a significant CAGR of 7% during the forecast period to reach a valuation of US$ 51 Bn by 2026, up from US$ 36 Bn in 2021.

The efficient flow of information across multiple units in an industry allows for the most efficient conversion of raw materials to completed goods, emphasizing the importance of the connected enterprise system, which is a primary driver for the industrial automation market.

The industrial automation market growth can be attributed to rising demand for real-time data analysis across geographies and increased adoption of cutting-edge technology across end-use industries to improve performance.

The significance of predictive maintenance and asset management solutions, which provide users with better visibility into their equipment condition, is accelerating the demand for industrial automation solutions.

The efficient flow of information across different units in an industry allows for the most efficient conversion of raw materials to finished goods, highlighting the significance of the connected enterprise system, which augurs well for industrial automation market future trends.

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Industrial automation solutions adoption trends are likely to be favoured by governments across the world as they are focusing on the development of process and distinct industries by launching a variety of initiatives and plans backed by investments to boost productivity.

Manufacturers can gain real-time access to plant floor data enabled by industrial computing and automation technologies, which helps them centralize business data and multi-plant operations, thereby surging the sales of the industrial automation solutions.

As per the industrial automation market study, the industrial automation market size is estimated to be about US$ 51 Bn by 2026.

Key Takeaways:

  • By sensor, inductive sensors are expected to dominate the market due to automatic welding system and their capabilities such as high mounting flexibility robust metallic detection.
  • By servo, servo motors are expected to grow at the fastest CAGR during the forecast period, as market participants launch new servo motors for automation systems.
  • AC motors are expected to see widespread adoption by motor type due to their low maintenance and low cost.
  • By industry, the discrete automation industry is likely to lead the market as the sub-segment, automotive and heavy manufacturing industries, is likely to drive the demand for automation solutions.
  • By component, the software segment is expected to have a significant market share during the forecast period since it seamlessly allows businesses to streamline their manufacturing processes.
  • By hardware, Robots are expected to grow at a rapid pace due to technological advancements and the emergence of Industry 4.0, with market players introducing advanced robots for automation purposes.
  • The Middle East and Africa market for PAM and adoption of industrial automation solutions are expected to grow at the fastest rate, as PAM improves decision-making and turnaround time by tracking manufacturing defects.

“The Asia Pacific region controls most of the global industrial automation market. The market is expanding positively and is expected to continue doing so on account of smart manufacturing and automation, and integration with the current manufacturing environment. Furthermore, the growing number of application areas, as well as the strong presence of industrial automation services companies and the developing economies of Asian countries, all contribute to the market’s growth.” says an FMI researcher.

Competitive Landscape:

The industrial automation market appears to be highly competitive. Several well-established machine automation technologies providers form a solid competitive landscape.

These market participants attempt to maintain their positions by investing in collaboration, mergers and acquisitions, partnerships, product/technology launches, and expansion.

These strategies assist market participants in gaining a more significant industrial automation market share and meeting their expansion plans. They are primarily concerned with new technology advancements in industrial automation.

The market would be subjected to constant innovations and developments, intensifying competition among top industrial automation system integrators.

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Recent Developments in the Industrial Automation Market include:

  • Siemens AG and SAP SE have expanded their collaboration to deliver a new service and asset lifecycle management solution. The collaboration aims to connect plant floor operations, remote condition monitoring and Siemens industrial automation products development via digital twins with original equipment manufacturers to facilitate collaboration across the asset lifecycle.
  • Plex Systems, a provider of smart manufacturing solutions, was purchased by Rockwell Automation Inc. for USD 2.2 billion. Plex Systems’ cloud-native smart manufacturing platform will be used to broaden industrial cloud offerings.

Key Segments

By Deployment:

  • Industrial Robots
  • Machine Vision System
  • Process Analyzer
  • Field Instruments
  • Human Machine Interface (HMI)
  • Industrial PC
  • Industrial Sensors
  • Industrial 3D Printing
  • Vibration Monitoring

By Component:

  • Supervisory Control And Data Acquisition (SCADA)
  • Programmable Logic Controller (PLC)
  • Distributed Control System (DCS)
  • Manufacturing Execution System (MES)
  • Industrial Safety
  • Plant Asset Management (PAM)

By End-use Industry:

  • Oil & Gas
  • Chemicals
  • Pharmaceuticals & Medical Devices
  • Food & Beverages
  • Energy & Power
  • Automotive
  • Machine Manufacturing
  • Water & Wastewater Treatment
  • Electronics & Semiconductors
  • Metals & Mining
  • Others

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Plain Bearing Market Set to Witness an Uptick Size US$ 17 billion to 2032: Future Market Insights, Inc.

As per the plain bearing market report by FMI, the global market is expected to be worth US$ 10 billion in 2021 and US$ 17 billion by 2032, growing at a modest CAGR of 5% over the forecast period.

The rise of plain bearing applications is propelling the market forward. In addition, increased infrastructure spending, emerging technological projects, and heavy machinery development in China, India, the United States, Germany, and Brazil have further bolstered plain bearing market growth.

Potential uses in the oilfield, construction, automotive, aerospace, industrial, and energy industries drive the plain bearing market size. The industry’s expansion was driven by aspects such as high quality and durability and low-cost production.

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The global market study on plain bearing indicates that a rise in counterfeit goods might stifle market growth. The market’s growth pace would also be hampered by shifting input costs. Steel, tin-based alloys, chrome steel, and engineering plastics are among the most important raw materials used to adopt plain bearings. In the global marketplace, dramatic changes in several metals and crude oil prices have been recorded. This has a serious influence on plain bearing output and the increasing plain bearing market share.
The global plain bearing market is expected to record a valuation of US$ 13 Bn by 2026.

Competitive Landscape

A new market research report on the plain bearing market specifies that the major plain bearing material manufacturers in North America and Europe adhere to stringent government requirements. On the other hand, emerging regions have fewer or no industry regulations, albeit there are a few rules requiring the use of environmentally hygienic and safe plain-bearing items.

As a result, expanding markets in the Middle East, Africa, and the Asia Pacific provide plain bearing market opportunities for manufacturers. Furthermore, the robust success of end-use industries such as automotive, aerospace, energy, agriculture, construction, mining, and oil & gas can be attributable to the rising regions’ high development potential.

  • SKF Group committed USD 44.3 million in expanding and renovating its Airasca, Italy manufacturing site in March 2021. The investment will enable the Group’s largest production location in Italy to produce super-precision bearings for industrial applications.
  • Timken Company bought Aurora Bearing Company’s assets in December 2020. Rod ends, and Aurora Bearing Company manufactures spherical plain bearing types for various industries, including aerospace and defense, racing, off-highway equipment, and packaging.

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Key Takeaways

  • FMI’s plain bearing market report states that the car end-use industry held the greatest proportion of the worldwide plain bearing market. The surge for simple bearings in the vehicle industry is mainly accountable for the rise.
  • Due to increased demand for plain bearings from various end-use sectors such as car, aerospace, construction, and energy in this area, the Asia-Pacific region led the global plain bearing market in 2020. China, India, and Japan lead the way in terms of plain bearing demand and supply in the Asia-Pacific area.
  • The European region accounted for the second-largest share of the worldwide plain bearing market. In the European region, Germany, France, and the United Kingdom are the top producers and consumers of plain bearing as per the plain bearing market outlook.

“Increased plain bearing uses and lifespan as a result of technical advancements limits aftermarket sales, limiting the growth of the worldwide plain bearing market. Furthermore, an increase in the number of counterfeit products may stifle demand. Nonetheless, smart product introduction is expected to be a key option for expanding product breadth.”, opines an FMI analyst.

Furthermore, the introduction of smart bearings and rising economies will create new prospects for more plain bearings industry trends in the near future.

In response to increased global demand for automobiles, the sales for plain bearing are also predicted to grow. Furthermore, the rising need for wind power generation, rising urbanization in emerging regions, and technical developments are all important market variables that will increase the plain bearing market potential. Plain bearings are lightweight, have a high load-carrying capacity, require less maintenance, have a longer life, and are exceptionally reliable. These plain bearing applications are propelling the industry forward as well. The market is also expanding as the need for bearings in the defense and aerospace industries increases.

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Telescopic Masts Market by Segmentation type— Global Forecast to 2032

These masts are used where the drones and other surveillance equipment cannot be used. Growing demand for telescope masts Market and pneumatics in the commercial sector is expected to drive sales at a 4.9% CAGR over the forecast period.North America is anticipated to hold a dominant share in the market due to increasing investments in the military sector, followed by Europe. North America and Europe are projected to hold a collective market share of 45% by 2032.

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In order to properly safeguard a cellular network from challenges such as natural disasters, man-made accidents etc., and one must fully understand their impact. Telescopic masts serve as the overall solution for cellular antennas via a temporary platform. Public events, where thousands of people gather, can overwhelm the limited cellular network infrastructure designed for the permanent solution for the area. Aforementioned reasons proliferate the demand and augment the rate of manufacturing of telescopic masts across the globe.

Telescopic masts are used primarily in setting up short-term radio networks for reporting the key news events and for momentary communications requirement in emergencies. Additionally, telescopic masts find their applications in tactical military networks for reconnaissance owing to various characteristics offered by the product. Moreover, telescopic masts are also utilized in mobile lighting, flag mast, fire-fighting equipment, and golf fields. The global telescopes masts market is highly fragmented and flooded with thousands of regional players.

The report covers exhaust 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 (U.S., Canada)
  • Latin America (Mexico. Brazil)
  • Western Europe (Germany, Italy, France, U.K, Spain)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, ASEAN, Australia & New Zealand)
  • Japan
  • Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

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

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Key Participants

Example of some of the market participants in the global telescopic masts market discerned across the value chain include

  • Clark Masts Limited
  • Comrod Communication AS
  • Motion Technologies Pty Ltd
  • Fireco Srl
  • Carl C. A/S
  • The Will-Burt Company (Geroh)
  • YUASA Co., Ltd.
  • Cobham plc
  • South Midlands Communications Ltd
  • Telco Antennas Pty Ltd
  • Kadevi Industries Limited

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

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

Market Segmentation

Global telescopic masts market can be segmented on the basis of operation, installation, material, height, load, applications and regions.

On the basis of operation,

  • Manually Operated (Push-up)
  • Pneumatic
  • Hydraulic

On the basis of installation,

  • Trailer based
  • On-ground

On the basis of material,

  • Composite Materials (Carbon fiber and Glass Fiber)
  • Aluminum

On the basis of height,

  • Up to 12 m
  • 12 m to 30 m
  • More than 30 m

On the basis of load,

  • Light duty (up to 45 kg)
  • Medium duty (45 kg – 120 kg)
  • Heavy duty (above 120 Kg)

On the basis of applications,

  • Commercial
  • Military
  • Security
  • Municipal
  • Others

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Power Device Analyzer Market Global Industry Overview and Competitive Landscape till 2032

The power device analyzer market is projected to advance at a modest rate with a CAGR of 5% during the forecast period 2022-2032, as per the power device analyzer market report by Future Market Insights (FMI). Asia-Pacific is expected to reign the market in the coming years as its growth is being aided by an increase in demand for electric vehicles (E.V.s) and a tightening of government policies to avoid financial penalties, manufacturers must earn a certain number of points per year, which are awarded for each E.V. produced.

The primary factor accelerating the power device analyzers market growth is the increasing adoption of high-performance and power-efficient devices for the consumer and healthcare sectors and investments in electric vehicles due to environmental concerns.

Globally, there is a constant demand for energy savings across various industries. In addition, various government and international organizations work to raise awareness and promote energy conservation.

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Renewable energy is gaining traction around the world. As a result, various government policies and schemes are in place around the world to encourage the use of renewable energy resources, thereby shaping the power device analyzer market future.

To fulfil the Paris Agreement and reduce carbon emissions, the future energy mix will rely more on renewable energy, which puts a number of solar and wind energy projects underway or planned for the future in various countries as the adoption of power device analyzers is highly preferred for testing solar cells and as a total carbon analyser, etc.

Furthermore, the renewable sector is experiencing rapid growth, with investments coming from private players and the government.

Major power device analyzer manufacturers are confronted with various challenges and unorganized market players who sell sub-standard products.

These unorganized market players outperform the big players in terms of price, competitiveness, and the local supply network they maintain, which is difficult for global players to achieve. Furthermore, local dealers push these locally produced devices into the market because of higher margins.

This apart, due to the sheer lack of stringent government regulations on energy waste, many small and medium-sized industries, particularly in developing economies such as Southeast Asia, choose locally manufactured power device analyzers due to the lower prices involved. As a result, increased sales of power device analyzers from local and grey market players limit global players’ opportunities to gain power device analyzers’ market share.

On account of the aforementioned factors, the power device analyzer market is predicted to muster a revenue of about US$ 58 Mn by 2026.

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Key Takeaways

  • Due to government initiatives to implement energy audits with increased mandatory regulations a growing market for the Internet of Things (IoT), both the A.C. and D.C. type segments are expected to account for a larger power device analyzer market share by type.
  • By current, the below 1000A is likely to lead the market as the vast majority of projects are undertaken in this sector, including automotive, energy, aerospace and defence, and healthcare equipment manufacturing.
  • By end-use, the automotive segment is anticipated to dominate the market as the rise of electric and self-driving vehicles has increased the demand for power device analyzers to ensure automotive systems’ quality, safety, and dependability.
  • The North American market is expected to be the fastest-growing. The rising number of 4G connections that would necessitate wireless test equipment is the primary growth driver for the market in this region.
  • In Asia-Pacific, China and the automotive segment is likely to be at the forefront of the power device analyzer market.
  • The power device analyzer market size was around US$ 450 Mn in 2021.

Competitive Landscape

The market’s top players in the power device analyzer market include Fortive (U.S.), Keysight Technologies (U.S.), Iwatsu (Japan), Yokogawa (Japan), and Hioki E.E. Corporation (Japan), Rohde & Schwarz (Germany) and Newtons4th (U.K.).

A few of the recent developments in the power device analyzer market are as follows:

  • Iwatsu will release the Curve Tracer CS-800. This series has a testing capacity of up to 5kV and 2000A and is considered one of the significant emerging trends in the power device analyzer market.
  • The PA920 Series Power Analyzer from Vitrel features an ultra-high accuracy, wideband waveform digitizer with advanced computational capability, a large high-resolution display, and a full-colour touchscreen user interface for power measurement accuracy (0.024 per cent, 20Hz).

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Shot Blasting Machine Market Size Predictions : US$ 1.8 billion by 2031

As per a recent market survey by Future Market Insights, sales in the global shot blasting machine market are expected to increase at a healthy 5% CAGR, reaching a valuation of US$ 1.8 Bn in 2031. Shot blasting machines play a vital role in the metal industry. With increasing demand from industries such as aerospace and automotive, sales will rise across the globe over the forecast period.

Growing demand for shot blasting equipment from the construction and automotive sectors is expected to drive the demand for semi-automatic shot blasting machines in the forthcoming years.

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Further, manufacturers are offering customized shot blasting machines to improve sales in the market. They are focusing on innovative technologies and techniques to improve the performance of these machines. This is expected to augment the. Growth of the market in the forthcoming years.

As per FMI, sales in China and India are expected to increase at a considerable pace owing to rapid urbanization, increasing sales of electric vehicles, and growing residential and commercial establishments.

“Increasing applications of shot blast machines in the aviation sectors, along with surging demand for roller conveyor shot blasting machines will continue boosting the growth in the market over the forecast period,” says an FMI analyst.

Key Takeaways:

  • In terms of product type, sales of wheel blasting machines are projected to increase at a 3.8% CAGR through 2031.
  • Based on automation, demand in the semi-automatic segment will grow at a 4.1% CAGR over the assessment period.
  • Sales in the automotive sector will increase at a steady 4.2% CAGR over the forecast period.
  • The U.S. will dominate North American shot blasting machines market, expanding at a 4% CAGR.
  • The U.K. will emerge as a lucrative pocket in the Europe shot blasting machines market, with sales growing at a 4.3% CAGR.

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Competitive Landscape

Some of the leading players in the market are SINTOKOGIO, LTD., Rösler Oberflächentechnik GmbH, Norican Group and SHANDONG KAITAI GROUP CO. LTD. The top 5 players are projected to account for 20-25% of the total market share over the forecast period.

The global shot blasting machines market is extremely consolidated. Market players are competing to increase their global footprints by advancing their product portfolio through technological innovations and new product development. Players are also expanding their sales channels in emerging markets through collaborations and are focusing to provide a global service network to end-users.

Find More Valuable Insights

The research report analyzes the market demand trends of the shot blasting machine market. The global market estimation and growth projection are based on factors like end-use industries development, COVID-19 crisis impact, replacement ratio, and adoption rate of Shot Blasting Machines.

As per Future Market Insights’ research scope, the Shot Blasting Machine Market has been studied and segmented based on product type, automation, end-use industry and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market on both, the supply-side and demand side.

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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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Leading players in the Europe Water Pumps Market & Their Global Industry Dominance

Future Market Insights (FMI) expects the Europe water pumps market to expand at over 3.6 % CAGR through 2031.

Pump production is one of the few industrial sectors in which Europe continues to perform at least on pace with, if not better than, its worldwide competitors. It has enjoyed a strong positive trade balance with other major alliances in Asia and the Americas for many years, and it continues to do so.

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The water pumps sector in Europe is confronted by several opportunities such as the need to reduce the energy consumption in several European countries, keep at par with the customer requirements and maintain the position concerning global vendors and expand its presence from regional to global levels.

Along with this, there are increasing opportunities by the supporting framework for energy efficiency as well as addressing the needs of the emerging markets including but not limited to chemicals and petrochemicals.

The increasing adoption of modern farming practices such as hydroponics and vertical farming as a consequence of the growing demand for organic food provides rising opportunities for water pumps in this area, which has led to the inclination of end-users towards centrifugal water pumps for water circulation.

As the Europe pump sector matures, emerging technologies like intelligent pump systems are expected to be the primary engine of future growth. The need for these “smart” pumps is growing in a variety of end-user segments, including water and wastewater treatment, building automation, and food and beverage.

Several EU regulations have been implemented through national legislation to ensure that ambient, drinkable water and wastewater meet acceptable quality criteria, as well as to increase the rate of home sewage connection.

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Key Europe Water Pumps Market Segments Covered

By Capacity:

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

By Product Type:

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

By End Use Sector:

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

By Country:

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

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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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Gas Insulated Substation Market to Achieve A High CAGR Of 5.4% During Forecast Period -2032

According to the latest Future Market Insights (FMI) analysis, sales in the gas protected substation market are expected to top US$12.5 Bn by 2021. The growth outlook remains positive as the market is assessed to register a 5.7% CAGR between 2021 and 2031.

FMI has identified General Electric, Hitachi Ltd., ABB, Infosys, SIEMENS AG, and Mitsubishi Electric Corporation as leading players in the gas insulated substation market. The top ten market players are expected to account for nearly half of the demand registered through the forecast period.

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Key Takeaways of Global Gas Insulated Substation Market Study

  • Indoor based installed units are estimated to gain close to two-thirds of the overall market in the forecast period. Increasing necessity for small and low maintenance power systems will favour the adoption of the system type.
  • While high rated voltage units are deemed to be the leading segment, medium rated voltage unit is expected to register higher growth surpassing growth exhibited by other prototypes owing to demand from the manufacturing sector
  • North America, Europe and East Asia have been identified as leading regional markets owing to robust investments and growth in civic infrastructure and industrialisation
  • The gas-insulated substation demand in India will grow by 6.4% CAGR over the assessment period, from 2021 to 2031
  • The gas-insulated substation market in China is expected to total US$2.9 Bn by 2031

“Automation based operating substation is expected to be a key trend adopted by system providers which is likely to be embraced in full capacity by various end users. New installations as well as upgrading ageing infrastructure will drive the market growth” says FMI analyst.

Competitive Landscape

The market is highly competitive. As per FMI, tier-1 companies are estimated to occupy half of the demand in the market. The leading players are likely to pursue robust channel partner based supply chains as well as create supply chain contracts directly with end-users to customise solutions as per their requirements.

After-sales repair and maintenance programs offered by OEMs or tie-up with channel vendors are other trends witnessed in the market. Some of the key players in the market are General Electric Company, Hitachi, Ltd., ABB Ltd, Larsen & Toubro Limited, Siemens AG, Mitsubishi Electric Corporation, Eaton Corporation PLC, and Toshiba Corp, CG Power and Industrial Solutions Ltd, Schneider Electric SE., amongst others, etc.

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2016-2020 Gas Insulated Substation Market Outlook Compared to 2021-2031 Forecast

Driven by an increased focus on research and development and investment in the power generation sector, the gas insulated substation market will rise at 5.7% CAGR between 2021 and 2031 in comparison to 3.8% CAGR registered during 2016-2020.

Over the forecast period, the growing demand for small, low-maintenance power systems is expected to drive the market. In comparison to air-insulated substations, gas-insulated ones have higher efficiency and dependability.

Because gas-insulated substations require less area than their equivalents, rising per hectare land values are predicted to stimulate prospects for expansion. Due to their lower space use, these substations require 90% less area than other power plants, which enables growth in the market.

Market growth is predicted to be driven by rising energy consumption in emerging nations as a result of changing lifestyles and increasing per capita income. It is expected to gain traction in the market since it can be planted in a small space also it protects the environment using sulphur hexafluoride gas whereas Air-insulated substations are more likely to pollute the environment, whereas gas-insulated substations are more environmentally friendly.

Leading manufacturing companies are focusing on expanding their product offering and are employing omnichannel sales channels across various regional markets. To improve their revenue generation, companies are directly making contracts and proposal bidding with end-users and governments, which is helping them in revenue generation.

Rising safety concerns, reliability, and substation security are projected to fuel demand in the market in the coming years. Longer life spans and one-time investment requirements for gas insulated substations are expected to continue to drive the market.

Since the sulphur hexafluoride is a greenhouse gas, its use in substations can impact the market growth. However, its market is expected to grow at a higher rate owing to its advantages over other options.

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Gas Insulated Substation Market by Category

By Basis of Installation:

  • Indoor
  • Outdoor

By Voltage Rating:

  • Medium voltage (Up to 72.5 kV)
  • High Voltage (72.5 kV – 220 kV)
  • Ultra-High Voltage (220 kV – 765 kV)

By End-user:

  • Power Transmission and Distribution
  • Manufacturing and Processing

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • The Middle East and 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 10-years.

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