Global Welding Fume Extraction Equipment Market Revenue Size to Cross USD 7.4 Billion by 2033, Driving 5.5% CAGR Growth

The welding fume extraction equipment market is poised for significant expansion, with a projected valuation of approximately USD 4.3 billion in 2023, driven by a robust Compound Annual Growth Rate (CAGR) of 5.5% from 2023 to 2033. As the forecast period concludes, global sales of welding fume extraction equipment are expected to reach a substantial USD 7.4 billion.

The increased demand for welding fume extraction equipment stems from its indispensable role across a diverse spectrum of industries. From aerospace and automotive to construction and manufacturing, there is a growing need for effective fume extraction solutions. These dynamic and ever-evolving industries are expanding their horizons, driving the demand for advanced and efficient equipment that not only ensures the health and safety of workers but also aligns with stringent environmental regulations.

Key Takeaways:

  • By the end of 2033, the market in the United States is expected to progress at an annual growth rate of 5.4%. This regional market could contribute to a revenue share of USD 1.4 billion by following this higher CAGR than other countries by 2033.
  • In terms of worldwide revenue, China alone is poised to account for a sizeable market share of 20% by the end of 2033. This regional market is projected to capture a 5.3% CAGR until 2033, concluding at USD 1.6 billion.
  • In terms of units, the mobile welding fume extraction equipment segment is poised to advance at a CAGR of 5.4% over the next ten years. Its sales remain higher as it is excellent for areas where there may be a need for more space due to its small size.
  • Arc welding is widely used in many applications, increasing its sizeable revenue share in the overall market among all application segments. During the forecast years, the revenue share obtained from sales of fume extraction equipment for arc welding is poised to grow at 5.2%.

Competitive Landscape:

Parker Hannifin, Fumex, AAF International, Air Quality Engineering, and Lasermet are some leading players in the global welding fume extraction equipment market. To tap into expanding markets and broaden their consumer base, leading welding fume extraction equipment manufacturers are expanding their operations into new geographic areas.

While meeting the unique needs of distinct regions requires setting up regional production facilities, distribution networks, and sales and service centers. So, the overall market is anticipated by FMI to get diversified further in the coming days with the emergence of new market players.

Recent Market Developments:

KEMPER Company released the WallMaster filtration system in August 2020 to aid metalworking businesses in optimizing employee safety during welding processes. It is a fixed filter machine that can accommodate two workstations simultaneously and is made especially for filtering medium amounts of welding fumes.

Key Companies Profiled in the Report:

  • Parker Hannifin Corporation
  • Fumex, Inc.
  • AAF International (American Air Filter)
  • Air Quality Engineering
  • Lasermet Ltd.

Key Segmentation Analysis:

By Product Type:

  • Mobile Units
  • Stationary Units
  • Large Centralized Systems

By Application:

  • Arc Welding
  • Resistance Welding
  • Laser Beam Welding
  • Oxy-fuel Welding
  • Other Applications

By Region:

  • North America Market
  • Latin America Market
  • Europe Market
  • East Asia Market
  • South Asia and Pacific Market
  • The Middle East and Africa (MEA) Market

Access Report Details for More In-Depth Information!

Author:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Industrial Chain Drives Market Revenue Estimated to Surpass USD 6.5 Billion by 2033, Driven by 3.6% CAGR Growth

The global industrial chain drives market size is expected to exceed a valuation of USD 4.6 billion in 2023. It is anticipated to attain a valuation of USD 6.5 billion by 2033. The market is foreseen to thrive at a CAGR of 3.6% from 2023 to 2033.

Projects to build infrastructure, such as roads, bridges, railroads, and ports, are becoming more common in many nations. Heavy equipment like cranes, excavators, and loaders used in infrastructure development and construction depend heavily on chain drives. The growth of the industrial chain drives market is currently facilitated by the rise of infrastructure projects around the globe.

Energy and power generation in the industrial chain is another key factor for market expansion. In power plants, wind turbines, and hydroelectric facilities, chain drives are frequently utilized to transfer electricity from turbines to generators. Chain drives are becoming more and more necessary as the demand for energy rises in response to growth in population and industrial development.

Chain drives are widely used in the automobile industry for components like engines, power transmission systems, and steering mechanisms. The demand for chain drives is rising as a result of the expansion of the automotive sector, particularly in developing nations. The industrial chain drives the market growth in tandem with rising vehicle production and sales.

Specialty chains with specific characteristics and capabilities are required by certain sectors. For instance, there are strict standards for cleanliness, corrosion resistance, and accuracy in sectors like food processing, medicines, and electronics. The market for industrial chain drives is developing as a result of the rising demand for bespoke chains designed specifically for these sectors’ demands.

Manufacturers are introducing novel chain drive systems as a result of ongoing research and development activities. These solutions frequently come with better features, including higher customizability, lower noise levels, and improved durability. The market is expanding due to the availability of cutting-edge chain drives that meet certain industrial needs.

The industrial chain drives market is substantially influenced by North America, in particular the United States. The need for chain drives is fueled by the region’s sophisticated manufacturing sector, which includes industries including automotive, aerospace, and machinery production.

The region’s emphasis on technological development, automation, and process optimization in industries also contributes to the market’s growth. Its position in the industry is further aided by the existence of reputable manufacturers and suppliers in North America.

Key Takeaways from Industrial Chain Drives Market Report:

  • The global industrial chain drives industry size developed at a CAGR of 4.4% from 2018 to 2022.
  • In 2018, the global market size stood at USD 3.7 billion.
  • The global market size stood at USD 4.4 billion in 2022.
  • The double-pitch chain segment is projected to thrive at a CAGR of 3.4% from 2023 to 2033.
  • The manufacturing end-user segment is slated to exhibit a CAGR of 3.2% from 2023 to 2033.
  • China is predicted to showcase a CAGR of 3.5% from 2023 to 2033.
  • Japan is anticipated to thrive at a 3.5% CAGR from 2023 to 2033.
  • The market in the United States is predicted to expand at a CAGR of 3.5% from 2023 to 2033.

Key Players:

  • AB SKF
  • Chiaravalli Group Spa
  • Cross Morse
  • Daido Steel Co. Ltd.
  • Ditton pievadkezu rupnica
  • Dunbelt Bearings and Transmissions SA.
  • Industrias YUK S.A.
  • KettenWulf Betriebs GmbH
  • LEWCO Inc.
  • Martin Sprocket and Gear Inc.
  • Ramsey Products Corp.
  • Regal Rexnord Corp.
  • Renold Plc
  • Rubix Group Holdings Ltd.
  • The Timken Co.
  • Others

Industrial Chain Drives Market Segmentation:

By Type:

  • Single-strand Chain
  • Double Pitch Chain
  • Multi-strand Chain

By End User:

  • Manufacturing
  • Mining
  • Agriculture
  • Construction
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • The Middle East & Africa (MEA)

Access Report Details for More In-Depth Information!

Author:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global DC-DC Converter Market Expected to Grow at 7.4% CAGR, Reaching US$ 22.39 Billion by 2033

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The global DC-DC converter market is projected to expand from US$ 10,934.0 million in 2023 to US$ 22,395.4 million by 2033, registering a healthy CAGR of 7.4% over the forecast period. The demand for DC-DC converters is on the rise, driven by the growing adoption of energy-efficient technologies in sectors such as automotive, telecommunications, and industrial equipment.

With a previous growth rate of 5.3% CAGR between 2018 and 2022, the market is set to accelerate as industries across the globe prioritize efficient power management solutions.

Market Snapshot:

  • 2023 Market Size: US$ 10,934.0 million
  • 2033 Market Size: US$ 22,395.4 million
  • CAGR (2023–2033): 7.4%
  • Growth Rate (2018–2022): 5.3% CAGR

Key Takeaways from Market Study:

  • The DC-DC converter market is expected to grow at a 7.4% CAGR from 2023 to 2033.
  • Automotive and telecommunications sectors will be key contributors to the market expansion.
  • The increasing demand for power-efficient devices will fuel innovation in DC-DC converters.
  • Asia-Pacific will emerge as a dominant regional market, driven by high industrial activity and electronics production.

Drivers and Opportunities:
The rising demand for energy-efficient and reliable power conversion systems across industries is one of the key drivers of the DC-DC converter market. The automotive sector, especially the electric vehicle (EV) segment, is seeing significant growth due to the need for high-efficiency power management systems.

Opportunities exist in the integration of advanced materials and technologies, such as GaN (gallium nitride) and SiC (silicon carbide) in DC-DC converters, offering enhanced efficiency and compact design. The telecommunications sector’s rapid expansion, particularly with 5G infrastructure development, is also creating growth opportunities for DC-DC converter manufacturers.

Component Insights:
The DC-DC converter market is segmented by component into isolated and non-isolated converters. In 2023, isolated converters held a larger market share due to their ability to handle higher voltage and provide better isolation between input and output. Non-isolated converters are also expected to see growth, particularly in low-voltage applications, owing to their cost-effectiveness and compact size.

Application Insights:
Key applications of DC-DC converters include automotive, telecommunications, industrial equipment, and consumer electronics. The automotive sector, particularly electric vehicles, is a significant contributor to market growth as it requires advanced power management systems to optimize battery performance and improve energy efficiency. The telecommunications sector is also a key growth area, with the increasing deployment of 5G networks driving demand for efficient power solutions.

Deployment Insights:
DC-DC converters are deployed in both on-board and off-board applications. On-board converters, used in vehicles and consumer electronics, are expected to witness strong growth over the forecast period. Off-board applications, such as industrial power systems and telecommunications infrastructure, will also see significant demand due to the growing need for reliable and efficient power conversion systems in large-scale operations.

Key Companies & Market Share Insights:
Major players in the DC-DC converter market include Texas Instruments, Delta Electronics, Vicor Corporation, TDK-Lambda, and Infineon Technologies. These companies are focusing on developing innovative products with improved efficiency, compact designs, and high reliability to meet the evolving needs of industries.

Recent Developments:

  • In 2023, Texas Instruments launched a new range of high-efficiency DC-DC converters designed for industrial and automotive applications, enhancing power management capabilities in harsh environments.
  • Delta Electronics introduced its latest series of DC-DC converters optimized for use in 5G infrastructure, focusing on high efficiency and compact design.
  • Vicor Corporation expanded its product portfolio with the release of GaN-based DC-DC converters, offering significant improvements in power density and efficiency, targeting high-performance computing and automotive sectors.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:      

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Electric Resistance Welded (ERW) Pipes and Tubes Market Size to Reach USD 119.4 Million by 2033, Growing at 5.2% CAGR

The electric resistance welded (ERW) pipes and tubes market is poised for substantial growth, with a projected valuation of USD 71.9 million by 2023. This positive trajectory is anticipated to continue, fueled by an impressive Compound Annual Growth Rate (CAGR) of 5.2% from 2023 to 2033. Consequently, the market is on track to attain a formidable valuation of USD 119.4 million by 2033.

A primary driver behind this surge in the ERW pipes and tubes market is the global upswing in infrastructural development initiatives. Ambitious projects are unfolding on a global scale, spanning from towering skyscrapers to extensive oil and gas pipelines. These ventures are generating heightened demand for ERW pipes, given their indispensable role in various critical sectors and applications.

The post-pandemic resurgence in the electric resistance welded (ERW) line pipes segment has generated a notable upswing in the pipes and tubes market. This upturn has spurred leading entities in the oil and gas, as well as power industries, to formulate strategic initiatives for the deployment of cross-country line pipe infrastructure. Additionally, the recovery of oil and gas prices, coupled with the reinvigoration of concise budget allocations, is expected to create favorable growth prospects for the global Line pipes sector.

The heightened level of investment activities in key sectors such as power generation and automotive underscores the increasing commitment of governments worldwide to bolster infrastructural development projects, including those related to water and sewage systems. These investments are poised to serve as catalysts for market expansion and offer promising avenues for growth in the near future.

North America: A Lucrative Market with U.S. at the Helm

Market Dominance in North America

The electric resistance welded (ERW) pipes and tubes market in North America commands a substantial 51.6% market share, with the United States alone estimated to reach a market value of USD 21.4 million during the forecast period. Currently, the United States holds a 5.2% share in the global market, driven by robust economic growth in the region and increased activity across critical sectors such as oil, power, and refineries.

U.S. Growth Dynamics

The growth trajectory in the United States is primarily attributed to a resurgence in expenditure, particularly in the realm of energy infrastructure. The nation’s focused investments are poised to meet the escalating energy demand and ensure energy security.

Asia Pacific: Dominating the ERW Pipes and Tubes Market

Leading the Global Market

Asia Pacific emerges as the frontrunner in the global ERW pipes and tubes market, commanding a substantial revenue share of over 44%. Notably, China is projected to further bolster its position with a noteworthy CAGR of 5.1% from 2023 to 2033, translating to a substantial market value of USD 27.7 million.

Japan’s Impact

Japan also plays a significant role in this market, contributing notably with a CAGR of 4.3%, resulting in a market worth of USD 16.2 million. The region’s consumers are driving this growth, reflecting a robust demand for ERW pipe products.

Key Players Profiled:

  • Nippon Steel & Sumitomo Metal Corporation
  • EVRAZ North America
  • Northwest Pipe Company
  • TMK IPSCO, Welspun
  • Wheatland Tube Company
  • ChelPipe
  • Techint Group
  • JFE Steel Corporation
  • Arabian Pipes Company
  • ArcelorMittal SA

Key Segments Covered:

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • The Middle East and Africa

By Type:

  • Pressure Tubing
  • Standard Pipes

By Application:

  • Oil and Gas
  • Chemical, Mining

Access Report Details for More In-Depth Information!

Author:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

Global Helical Submerged Arc Welded (HSAW) Pipes Market Share to Cross USD 7.8 Billion by 2033, Driving 3.3% CAGR Growth

The global helical submerged arc welded (HSAW) pipes market is positioned to achieve a substantial valuation exceeding USD 7.8 billion by 2033. With a significant valuation of USD 5.4 billion in 2022 and a projected increase to USD 5.7 billion in 2023, the market illustrates a consistent growth trend, underscored by a steady Compound Annual Growth Rate (CAGR) of 3.3% from 2023 to 2033.

Helical submerged arc welded pipes, also recognized as Large Diameter Pipes (LDPs), play a vital role in facilitating the seamless transportation of crucial resources like natural gas and oil. Serving as indispensable conduits within the industry, these pipes enable the efficient movement of fluids from distant production and refining sites to consumption hubs, thereby making a significant contribution to the global flow of resources across international borders.

The rise in industrialization led to an increase in a number of various industries such as chemical and pharmaceutical. Growing advances in these companies led to a boost in demand for helical submerged arc welded (HSAW) pipes.

The helical submerged arc welded (HSAW) pipes market in the construction industry is expected to continue growing in coming years driven by the increasing demand for energy & infrastructure as well as the development of new applications for these pipes.

Key Takeaways:

  • From 2018 to 2022, the market demand expanded at a CAGR of 5.9%.
  • Based on the application, the oil & gas segment accounts for a CAGR of 3.8%.
  • By outer diameter, 18-24 inches segment is expected to expand at a CAGR of 3.5% during the forecast period.
  • North America to emerge as a promising market, capturing a CAGR of 3.2%.
  • Asia Pacific is an opportunistic market, expected to capture a CAGR of 3.2% during the forecast period.

Competitive Landscape:

Leading players operating in the global helical submerged arc welded (Hsaw) pipes market are focusing on intensive research and development for launching innovative products and services in the market.

Product innovation is the key strategy adopted by market players. Brand consciousness and aggressive marketing by top players however make it challenging for new entrants in this market.

The market players are also emphasizing offering innovative products and services and improved accuracy and reliability. The market is benefiting from partnerships with a high focus on innovation.

  • In April 2023 – EVRAZ North America (ENA) announced the successful development and qualification of a high-strength, high-frequency welded (HFW) line pipe for high-pressure, 100 percent hydrogen transmission. ENA is the first North American line pipe producer qualified for high-pressure, 100 percent hydrogen pipeline transportation.
  • Zenith Steel Pipes & industries limited is a pioneer in the field of manufacturing of erw & hot dip galvanized pipes in India. Manufactured Spirally Welded Pipes (HSAW) from 18-inch to 100-inch OD (457 mm to 2540 mm OD) which is used in the bulk transportation of water.

Key Companies Profiled in the Report:

  • Bestar Steel Co., Ltd
  • EVRAZ North America
  • American Cast Iron Pipe Company
  • Cangzhou Haihua Steel Pipe Co., Ltd.
  • Continental Steel & Tube Company

Key Segmentation:

By Outer Diameter:

  • 18-24 Inches
  • 24-48 Inches
  • Over 48 Inches

By End-Use:

  • Oil &Gas
  • Water
  • Construction
  • Chemical
  • Other End-Use

By Region:

  • North American
  • Latin America
  • Europe Helical
  • Asia Pacific
  • Middle East and Africa

Access Report Details for More In-Depth Information!

Author:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

Global Tower Crane Market Valuation Predicted to Cross USD 33,661.95 Million Mark by 2033, Driven by 4.8% CAGR Growth

The tower crane market is primed for significant growth, projecting an ascent to USD 21,063.30 million in 2023, further reaching an impressive USD 33,661.95 million by 2033. This notable expansion is expected to be upheld by a consistent Compound Annual Growth Rate (CAGR) of 4.8% from 2023 to 2033.

The development of efficient tower cranes necessitates a wealth of expertise and experience. Typically anchored securely to foundations on construction sites, these cranes have witnessed a progressive increase in size and strength as construction professionals strive to enhance productivity, efficiency, and safety. Both stationary and mobile cranes, tailored to project requirements, find versatile application across various tasks.

Modern tower cranes play a pivotal role in empowering construction firms to achieve heightened productivity and efficiency. They facilitate the construction of tall buildings, even in densely populated urban areas, employing environmentally sustainable methods. Notably, they contribute to expedited project completion, with labor cost savings emerging as one of their most appealing features.

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Companies that develop buildings benefit from tower cranes because they can work more quickly and effectively. To handle even the heaviest tasks effortlessly, these heavy-lifting staples will come in handy. The tower cranes are not only a great addition to any urban aesthetic, but also they also come in handy for lifting heavy items, such as concrete, steel, and other heavy items.

A portable option also eliminates the need to carry bulky equipment. Automation and remote operation technologies are gradually being adopted by the construction industry. Remote control and automation could lead to tower cranes becoming less dependent on on-site operators. The result can be an improvement in safety and efficiency, as well as a reduction in labor costs.

Key Takeaways:

  • By design, bottom stewing cranes will contribute 63.4% of market revenue through 2033.
  • According to the forecast, hammerhead cranes will hold a 35.6% market share.
  • The United Kingdom is expected to experience a CAGR of 4% until 2033.
  • Throughout 2033, the demand for tower cranes in the United States is expected to increase by 4.5% CAGR.
  • By 2033, the tower crane market in India is predicted to expand at 5.8% CAGR until 2033.

“New manufacturing techniques and efficient tower cranes will drive demand. Increasing safety regulations and rental rates will drive market growth over the next few years,” – opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).

Competitive Landscape:

Various players operate in the tower crane industry, making it moderately competitive. It is becoming increasingly common for players to carve out a niche for a specific demographic. Strong partnerships with a high focus on innovation have benefited the market. As a result, a series of tower cranes have been launched since the beginning of the decade.

Market Developments Include:

  • In September 2023, The NFT Group, headquartered in Abu Dhabi, is the exclusive distributor of Potain cranes in the Middle East and has one of the world’s largest tower crane fleets. As part of the vast NEOM development, two Potain tower cranes have been purchased and are being shipped immediately to a Saudi Arabian tourist attraction. An MCT 1005 and an MCT 1105 are two of Potain’s largest topless tower cranes, but one is the newest.
  • In October 2023, Manitowoc launched its Grove GRT8100-1 rough-terrain crane and Grove five-axle all-terrain cranes at GIS Expo 2023, Europe’s largest lifting, transportation, and industrial exhibition. With so many customers, partners, and colleagues attending the GIS Expo, the event has become increasingly important.

Key Companies Operating in the Tower Crane Market:

  • Xuzhou Construction Machinery Group Co. Ltd.
  • Zoomlion Heavy Industry Science & Technology Company Ltd.
  • Liebherr
  • Terex Corporation
  • Manitowoc
  • Sany Group
  • Action Construction Equipment
  • Konecranes
  • Raimondi

Tower Crane Industry Segmentation Analysis:

By Lifting Capacity:

  • Up to 5 Tons
  • 5 to 10 Tons
  • 10 to 20 Tons
  • 20 to 30 Tons
  • 50 to 250 Tons

By Design:

  • Top Slewing
  • Bottom Slewing

By Product Type:

  • Self-Erecting
  • Hammerhead Cranes
  • Luffing Jib Cranes
  • Mobile Cranes

By End-use:

  • Building & Construction
  • Civic Infrastructure
  • Marine & Sea Ports
  • Mining
  • Others

By Region:

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

Author:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Solenoid Valve Market Revenue Size Estimated to Cross USD 6.9 Billion Milestone by 2033, Driving 4.5% CAGR Growth

According to a recent FMI study, the solenoid valve market is anticipated to reach USD 4.5 billion in 2023. The market is projected to grow at a CAGR of 4.5% from 2023 to 2033, reaching USD 6.9 billion by 2033.

Strict regulations in the food and beverage and medical industries, especially in developed countries, are propelling the demand for solenoid valves in their production process. Additionally, today’s technology-driven environment is giving momentum to automation in several industries. Since the increase in industries requiring power is rising, governments are coming forward to boost the capacity of the prevailing power plants and have sanctioned projects to build new power plants.

Surging concerns over the plants’ safety magnify the solenoid valve’s prospects. Owing to their strong magnetic field and electric current, solenoid valve makes for a great safety measure to debilitate the effect of a potential disaster.

Key players in the market are making significant investments in research activities to expand their product lines. Locally increasing the manufacturing capacity also helps reduce the company’s operational costs. Key manufacturers are employing this business tactic to help increase their overall revenue.

Top Highlights from the FMI’s Analysis of the Solenoid Valve Market: 

  • The United States industry is projected to reach USD 2.2 billion by 2033. From 2023 to 2033, the market is expected to record a CAGR of 3.4%.
  • The United Kingdom solenoid valve industry is expected to reach USD 347.2 million by 2033 end. In the coming decade, the industry is anticipated to perceive a market CAGR of 3.7%, in contrast to the 4.3% CAGR observed in the historical period.
  • The China solenoid valve industry is expected to expand at a CAGR of 5.4% to reach USD 595.5 million by 2033. In the historical period, the market recorded a CAGR of 6.9%.
  • The Japan solenoid valve industry is projected to gain USD 503.1 million by 2033. Over the forthcoming period, the market is anticipated to expand at a CAGR of 3.9%, as opposed to a 4.7% CAGR in the historical period.
  • The South Korea solenoid valve industry is estimated to expand at a CAGR of 4.9% compared to the 6.2% CAGR observed in the historical period. By 2033, the market is projected to reach USD 280.6 million 2033.
  • Based on operation, the normally open segment is projected to expand at a CAGR of 4.4% over the forecast period. In the historical period, the segment registered a CAGR of 5.2%.
  • Based on function, the 2-way segment is projected to represent a CAGR of 4.3% in the next ten years. In the historical period, the market registered a CAGR of 5%.

Market Update: New Developments Taking Place in the Market

  • Kendrion exhibited its newly developed bistable solenoid valve 63.0 in October 2022 at COMPAMED 2022. The valve regulates the rate of flow. A joined permanent magnet ensures it is de-energized in the closed or open state without permanently energizing the coil. The valve is commercially available in a 3/2- or 2/2-way version and can be tailored to meet precise requirements.
  • Emerson, an engineering, technology, and software firm, began operations in Mahindra World City, Chennai, in February 2022. This unit develops pneumatics and fluid control products, such as cylinders, solenoid valves, pneumatic valves and manifolds, air preparation units, etc., for Emerson’s field-proven brands ASCO, AVENTICS, TESCOM, and TopWorx.

Challenges and Considerations:

  • Material Selection: Choosing the right materials for solenoid valves is crucial to ensure compatibility with various fluids, pressure ratings, and operating environments.
  • Leakage Control: Minimizing leaks is essential to prevent product waste, environmental contamination, and system inefficiency.
  • Cost Optimization: Balancing the cost of solenoid valves with their performance and reliability is a key consideration for manufacturers.

Solenoid Valve Manufacturers in the Market:

  • Airtac
  • ASCO Valve Inc.
  • Danfoss Industries Limited
  • Curtiss-Wright Corporation
  • IMI Precision Engineering
  • Emerson Electric Co.
  • Juliang Valve
  • Parker Hannifin Corporation
  • Zhejiang Yongjiu
  • SMC Corporation

Solenoid Valve Market by Category:

By Type:

  • Direct-acting Valves
  • Pilot-operated Valves

By Function:

  • 2-way
  • 3-way
  • 4-way
  • 5-way

By Material:

  • Stainless Steel
  • Aluminum
  • Plastic
  • Others

By Operation:

  • Normally Open
  • Normally Closed
  • Universal

By Media:

  • Air
  • Gas
  • Water

By Industry:

  • Oil & Gas
  • Chemical & Petrochemical
  • F&B
  • Power Generation
  • Pharmaceuticals
  • Automotive
  • Medical
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • The Middle East and Africa

Access Report Details for More In-Depth Information!

Author:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

FMI Study States Global Water Treatment Market Revenue Share to Exceed USD 137.17 Billion Mark by 2034, Growing at 7% CAGR

The global water treatment market is on track to reach an estimated value of around USD 137.17 billion by 2034, growing at a CAGR of 7%. Among the standout segments within this market, water treatment systems are poised for a substantial surge in demand in the forthcoming years.

The impetus behind this growth is the ever-growing demand for potable water, a critical resource experiencing heightened demand due to the continuous expansion of the global population and increasing pollution levels. Traditional sources of drinking water, such as rivers and lakes, confront unprecedented ecological challenges, underscoring the crucial role of water treatment as a necessity rather than a mere convenience. The affordability and accessibility of water treatment systems have emerged as pivotal factors in ensuring clean and safe drinking water for individuals across diverse economic strata. This upward trend reflects the market’s dedication to addressing pressing environmental concerns while simultaneously fulfilling the essential needs of a burgeoning global population.

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Industrialization has played a significant role in exacerbating water pollution, particularly in urban areas, over the past century. The unregulated disposal of chemical materials and debris from construction activities has led to the contamination of certain water sources, rendering them unsuitable for consumption. This has raised significant concerns about the quality and safety of drinking water, driving the need for effective water treatment solutions.

As societies become increasingly conscious of the environmental impact of pollution and the importance of preserving clean water sources, the water treatment market is set to play a pivotal role. The development of innovative and cost-effective water treatment technologies will be crucial in addressing these challenges and ensuring a sustainable supply of safe drinking water for future generations.

The demand for clean and potable water is witnessing remarkable growth year after year, driven by the increasing global population and escalating pollution levels. This escalating trend has raised concerns about the sustainability of conventional water sources, which are now burdened by ecological challenges. In this context, water treatment systems have emerged as a cost-effective solution to cater to the diverse economic strata of consumers.

Industrialization and Water Pollution:

The process of industrialization, particularly in urban areas, has played a significant role in exacerbating water pollution over the past century. The unregulated disposal of chemical substances and debris resulting from construction activities has resulted in the contamination of various water sources, rendering them unsuitable for consumption.

Water Treatment in Industrial Processes:

Industries also play a pivotal role in driving the demand for water treatment systems. Various industrial processes require specific water quality parameters to be met, such as controlling water hardness levels, pH levels, and total dissolved solids (TDS) content. Different industries source their water from diverse origins, including seawater, freshwater, and groundwater, each with distinct compositional characteristics. Therefore, the implementation of water treatment systems is crucial to tailor raw water to the precise requirements of these industries.

Meeting Environmental and Regulatory Standards:

As environmental awareness continues to grow, businesses are under increasing pressure to adhere to stringent environmental and regulatory standards. This necessitates the adoption of advanced water treatment technologies to ensure compliance with legal requirements and reduce the environmental footprint of industrial operations.

Economic Viability of Water Treatment Systems:

Water treatment systems have become economically viable for a wide range of consumers, from households to large industrial players. The affordability of these systems has widened their accessibility, making clean water a reality for a broader spectrum of society.

Key Players Operating in the Industry:

  • Hitachi Aqua-Tech Engineering Pte Ltd
  • Flow-Tech Industrial
  • Clariant
  • Toshiba Corporation

Water Treatment Market Key Segment:

By System Type:

  • Preliminary Treatment
  • Water Treatment
  • Membrane Bio-Reactor (MBR)
  • Reverse Osmosis (RO)
  • Micro-Filtration (MF)
  • Nano/Ultra Filtration (NF/UF)
  • Disinfectants (UV, Ozone)
  • Sludge treatment
  • Activated Sludge
  • Sludge Thickening & Dewatering
  • Sludge Drying
  • Other Sludge Treatment Technology

By Application:

  • Process Water/ Water Treatment
  • Waste Water Treatment
  • Zero Liquid Discharge
  • Desalination

By End Use:

  • Residential Buildings
  • Commercial Buildings
  • Municipality
  • Industrial
  • Chemical & Petrochemicals
  • Oil & Gas
  • Mining & Metals
  • Food & Beverage
  • Pharmaceuticals
  • Thermoelectric Power Plants
  • Semiconductors
  • Pulp & Paper
  • Sugar Mills
  • Textiles
  • Leather

By Region:

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

Author:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

FMI Forecasts Global Industrial Magnetrons Market Share Projected to Drive Past USD 5.82 Billion by 2026, Growing Steadily at 5.4% CAGR

In a forecast by Future Market Insights (FMI), the global industrial magnetrons market is poised for robust expansion, with anticipated revenues exceeding USD 5.82 billion by the year 2026. Reflecting a sturdy Compound Annual Growth Rate (CAGR) of 5.4%, this trajectory underscores the escalating adoption of magnetron technology across diverse industries, notably within industrial heating equipment applications.

Magnetrons have emerged as indispensable components across various manufacturing sectors, serving pivotal roles in industrial heating processes. Recognized for their efficiency and reliability, they facilitate precise and controlled heating mechanisms within industrial settings. Leveraging their capability to generate high-frequency electromagnetic waves and convert them into heat, magnetrons are instrumental in an array of applications spanning drying, curing, sterilization, and material processing.

This projected surge underscores the increasing reliance on magnetron technology to streamline operational efficiencies and enhance production outputs across industries worldwide. As organizations continue to prioritize innovation and optimization, the demand for magnetron-enabled solutions is expected to witness sustained growth, driving the market towards unprecedented milestones.

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This ascent can be attributed to the soaring popularity of industrial magnetrons across diverse industrial segments in the U.S. These magnetrons are garnering widespread attention due to their exceptional attributes, including impressive performance, heightened efficiency, and uncompromising quality. As a result, they have found versatile applications in critical processes such as heating, drying, and plasma generation across various industries.

The burgeoning momentum of the U.S. industrial sector is further propelling the surge in industrial magnetron sales. Thanks to substantial government investments aimed at expanding the industrial landscape, the demand for these advanced magnetrons is expected to experience a significant boost in the near future.

This dynamic growth trajectory is not limited to the U.S. alone. On a global scale, the industrial magnetrons market is set to achieve substantial milestones. The projected sales figures of reaching USD 5.82 billion by 2026, coupled with a promising Compound Annual Growth Rate (CAGR) of 5.4% during the forecast period from 2022 to 2026, signify a robust and enduring upward trend.

In summary, the U.S. is rapidly positioning itself as a dominant force in the North American industrial magnetrons market, driven by the exceptional attributes of these magnetrons and bolstered by significant government investments in the broader industrial sector. As part of this larger narrative, the global industrial magnetrons market is poised for substantial expansion, underlined by impressive projected sales figures and a commendable CAGR. This confluence of factors paints a vivid picture of a thriving industry with immense promise and potential.

The Report Further Focuses on Europe and APAC Region:

Germany is set for strong growth in the European industrial magnetrons market, driven by the luxury vehicle sector. The production and sales of luxury vehicles, mainly dominated by German automakers, are a key growth factor. With luxury cars heavily relying on magnetrons for radars and GPS systems, the demand for industrial magnetrons in Germany is rising. This trend was expected to contribute to Europe’s market share of over 29.7% in 2022, as projected by the French Institute of International Relations.

China is poised to hold a significant share in the Asia Pacific excluding Japan (APEJ) industrial magnetrons market from 2022 to 2026. The surge in China’s consumer electronics industry and semiconductor demand is driving magnetron adoption. Their versatile use in various devices like heaters, microwaves, and wearables is propelling sales. Moreover, China’s focus on compact, lightweight magnetrons was anticipated to contribute to APEJ’s 19.1% demand share in 2022.

Key Players Profiled:

  • Panasonic Corporation
  • Toshiba International Corporation
  • Hitachi Ltd.
  • L3 Technologies, Inc.
  • MUEGGE GmbH
  • Teledyne E2V Limited
  • CPI International Inc.
  • Richardson Electronics, Ltd.
  • MDP Components
  • STT International Limited.

Market Segments Covered:

By Product Type:

  • Continuous Wave
  • Pulsed

By Cooling Type:

  • Air Cooled
  • Water Cooled

By Operating Frequency:

  • L Band
  • S Band
  • C Band
  • X Band
  • Ku & Ka Band

By Applications:

  • Industrial Heating Equipment
  • Radar Systems
  • Medical Applications
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • Japan
  • APEJ
  • MEA

Author:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

FMI Study Projects Global Large Scale Bearings Market Size to Surpass USD 760.3 Million by 2033, Driving 8.0% CAGR Growth

The global large scale bearing market is projected to witness substantial growth, with a noteworthy Compound Annual Growth Rate (CAGR) of 8.0% expected between 2023 and 2033, reaching an estimated value of USD 760.3 million. This anticipated expansion reflects significant shifts in various industries, spurred by relentless technological advancements.

Driving this upward trend is a notable increase in industrialization and automation, which is reshaping sectors across the globe. Companies are embracing automation and mechanization to bolster efficiency, productivity, and overall operational capabilities. As industries continue their journey towards heightened industrialization, the demand for large bearings capable of withstanding heavy loads and ensuring smooth rotation is becoming increasingly essential.

Key Takeaways:

  • The global market for large-scale bearings grew at 6.7% CAGR from 2018 to 2022, reaching USD 353.5 million in terms of value in 2023.
  • The United States large scale bearing industry is expected to reach a valuation of USD 685.3 million by 2033.
  • The United Kingdom’s large scale bearing industry is expected to cross a value of USD 11.9 million by 2033.
  • China’s large scale bearing industry is anticipated to top a valuation of USD 144.7 million in 2033.
  • With a CAGR of 8.6% estimated from 2023 to 2033, the gearbox bearing segment is anticipated to rule the global large scale bearing market by application.

“Ongoing construction of infrastructure projects, including power plants, bridges, and dams has increased demand for large scale bearings. These projects require strong, dependable bearings to support the operation of diverse components, assuring lifetime and trouble-free operation,” – says an analyst at Future Market Insights (FMI).

How Does Competition Look in the Large Scale Bearing Market?

The large scale bearing industry is highly consolidated with a significant number of players vying for high shares. Several significant participants in this industry comprise SKF Group, ThyssenKrupp GmbH, Schaeffler Group, Timken Company, and NTN Corporation among others.

The large scale bearing industry is characterized by intense competition among leading players, who are investing heavily in research & development to develop innovative and cost-effective products. These companies are also expanding their product offerings and strengthening their distribution channels to meet the changing demands of customers.

Collaborations and partnerships with other firms are becoming increasingly common in the market, allowing participants to leverage each other’s capabilities and expand their reach. Mergers and acquisitions are being used by key players to enhance their position and gain access to new markets, particularly in rapidly growing economies such as India and China.

For instance,

  • NSK expanded their line of electrical erosion immune bearings in March 2023 for axles. These bearings have insulating polymer coatings and conductive brushes. These will strengthen NSK’s flexibility to respond to different client needs regarding electrical erosion and help to increase EV dependability and range.
  • Minebea Mitsumi announced Honda Lock Mfg. Co., Ltd.’s full acquisition of all of its shares in January 2023. The company and Honda Motor Co., Ltd. had a share transfer agreement in existence prior to August 2022 for the purchase of Honda Lock Mfg. Co., Ltd. shares.

Market Outlook by Categorization:

By Product Type:

  • Plain Bearing
    • Deep Groove
    • Four Point Contact
  • Roller Bearing
    • Cylindrical
    • Tapered
    • Spherical
  • Slew Bearings
  • Electrically Insulated Bearings

By Diameter:

  • 500 to 1000mm
  • 1000 to 1500mm
  • 1500 to 2000mm
  • 2000 to 2600mm

By Application:

  • Main Bearings
  • Pitch Bearings
  • Generator Bearings
  • Gearbox Bearings
  • Flange Bearing
  • Yaw Bearings

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Central Asia
  • Russia & Belarus
  • Balkan & Baltic Countries
  • East Asia
  • South Asia & Pacific
  • The Middle East & Africa

Access Report Details for More In-Depth Information!

Author:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube