U.S. home remodeling market has emerged as one of the most lucrative avenues of investment in recent years. The industry is now set to observe a remunerative growth trend in the coming years. This development can be accounted for growing customer expenditure on homes. In addition, a rapidly growing real estate sector would likely further outline the market expansion through 2026.
Apart from the growing real estate, surging inclination of homeowners towards luxurious and energy-efficient living spaces would majorly contribute to the development of overall market outlook. In fact, people with homes in major states of the U.S. like Florida, Texas and California spend heavily on home renovation.
Citing an instance, as per the NAHB (national association of home builders), in 2018, the expenditure per improvement within California was more than $9,565, which is almost 20% more when compared to that in 2017.
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In addition, growing customer awareness regarding environmental protection and energy conservation through the use of green materials would majorly drive the market share in the coming years.
According to a research report by Global Market Insights, Inc., U.S. home remodeling market is estimated to surpass $500 billion through 2026.
Speaking of the end-use segment, kitchen additions and improvements is set to observe substantial growth trend in the coming years. Growing customer preference towards streamlined designs, materials, and textures due to the mounting popularity of farmhouse and mid-century designs would majorly propel the segment growth.
Apart from kitchen improvements, steadily growing need for hardwood flooring would augment the segment growth and thereby drive the market size. In addition, mounting popularity of ceramic tiles would also outline the segment expansion in the coming years.
Meanwhile, growing prevalence of various bathroom fittings like wall-mounted toilets, floating vanities, rounded rectangle vanity mirrors, and console sink vanities would proliferate the market share through 2026.
Additionally, the roofing sector is also set to observe substantial growth outlook owing to rapid technological upgrades and advancements happening every year. Growing emergence of various innovations is also likely to add up to the industry share through 2026.
Apart from the end-use segment, increased growth in the sales of existing homes in the region would majorly drive the market share. Expenditure on home improvements is growing due to rising cost of material and labor, further adding up to the market expansion. Additionally, increased spending of homeowners will also possibly drive the growth of U.S. home remodeling market.
Moreover, growing house rentals is likely to accelerate U.S. home improvements. In fact, as per the Joint Center for Housing Studies of Harvard University, nuclear family homes attributed to 39% of the whole U.S. rental homes.
All in all, rising homeowners’ expenditure, mounting house rentals, the growing prominence of kitchen improvements are likely to facilitate a massive range of opportunities for U.S. home remodeling market players.
The industry is inclusive of players such as Watsco Inc., US LBM, HD supply, Beacon roofing supply, ABC Supply, Ferguson Enterprises, The Sherwin-Williams Company, Pella Corporation, Andersen Corporation, and Kohler Co. among others.
Author Name : Bhushan Tambe
Global rubber conveyor belt market will grow substantially in the years to come mainly due to widespread demand in the mining sector. Ease and convenience of these belts in transportation of bulk materials make them best-suited for a range of open pit and underground mining applications. These belts offer excellent power saving capabilities and can efficiently transfer materials over short, medium as well as long distances, even across topographically difficult terrains with steep angles.The anti-abrasive, heat-resistant, flame-resistant and oil-resistant characteristics of rubber conveyor belts make them suitable for long-distance coal conveying. A growing global population along with robust economic growth is leading to increased utilization of resources such as coal, iron ore and copper, in turn fostering the growth of the global mining sector.
The costs for setting up of rubber conveyor belts in a mine or a plant are a considerably high. Moreover, high maintenance and replacement costs associated with these belts may slightly impede the industry growth in the coming years. However, the fact that these belts substantially reduce labor and transportation costs will present favorable opportunities for conveyor belt manufacturers worldwide.
Global rubber conveyor belt industry share is segmented into textile reinforced belts, steel reinforced belts, and solid woven belts, among others based on materials. Textile reinforced rubber conveyor belts are further classified into performance textiles and commodity textiles. These belts offer excellent dimensional stability and have low moisture absorption.
Textile reinforced belt segment was valued at more than USD 3 billion in 2018. Nylon and polyester blends are generally used to manufacture textile reinforced belt carcasses. This helps them achieve exceptional abrasion and fatigue resistance and ensure high strength and durability.
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On the basis of application, rubber conveyor belt industry share is classified into light weight, medium weight, and heavy weight. Rubber conveyor belts used for light weight applications generally have lower tensile strengths. These belts facilitate transportation of lightweight materials within a plant, production or a mining facility. Light weight rubber conveyor belt market size is estimated to register a CAGR of more than 3% over 2019-2026.
Rubber conveyor belts are deployed across mining, metal processing, power generation, cement manufacturing, and recycling, among few other end-users. The mining sector is further segmented into coal, metals and others. Mining industry captured over 41% share of global rubber conveyor belt market during 2018 and will continue to be the largest end-user over the forecast timeline.
North America rubber conveyor belt industry will garner revenues in excess of USD 1.5 billion by 2026. The presence of several prominent mining companies in the region will open up promising opportunities for regional manufacturers. The U.S. is also one of the leading mining countries in the world with an extensive range of ferrous and non-ferrous metals which will complement the regional outlook.
Asia Pacific is anticipated to account for a major share of global rubber conveyor belt market forecast. This can be largely attributed to rapid growth of mining, manufacturing, power generation, and recycling industries in the region. Europe will likely record slightly slower growth rate compared to other regions mainly due to increased adoption of renewable energy sources for power generation.
Author Name : Hrishikesh Kadam
Marine turbocharger market is projected to witness exponential growth due to the introduction of strict government regulations that are focused on alleviating environmental concerns and tackling climate change. Additionally, numerous technological advancements in the field of propulsion technologies are also likely to foster industry outlook.
Moreover, increasing economic development and growing customer expenditure on recreational activities are positively influencing adoption of recreational boats that use the latest of propulsion technologies to get around.
In fact, with growing demand for faster speeds and higher power throughputs in recreational sports activities, the market is likely to witness a rise in product sales during the projected study period.
According to a recent research report by Global Market Insights, Inc., global marine turbocharger market is expected to surpass $780 million by 2026.
Rising seaborne trading as well as favorable trade regulations are fueling the demand for new commercial ships. This has influenced several shipping companies to increase the cargo carrying capacities. It has also impelled the increase in ship sizes to address increasing seaborne trade.
Additionally, there is an increasing demand for improved turbocharger and engine efficiencies from ship operators to meet the IMO regulations and EEDI targets. These demands are set to emerge as the key factors that would push the marine turbocharger market trends over the forecast timeframe.
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Meanwhile, several advancements in propulsion technologies would possibly drive the market share in the forthcoming years through product advancements. One such advancement, the CFD (Computational Fluid Dynamics) technique is used in turbine blades and compressor wheels to examine the secondary and primary flow structure across impeller blades.
Likewise, use of advanced tools such as ANSYS and FEA techniques results in adaptable development processes. Due to this flexibility, turbochargers can be modified at later stages. In the projected timeframe, techniques like CFD, ANSYS and FEA are likely to positively influence the turbocharger market.
Additionally, technological advancements have also innovated marine turbocharger diversification. Products can now be designed specific to different industry demands. Advanced marine turbochargers provide improved efficiency and higher pressure ratios which reduces their environmental impact. With these benefits product adoption is likely to witness a sizable shift in coming years.
The adjustable vanes turbochargers are anticipated to experience high growth due to their ability to contribute towards the alteration of the aspect rations. This further changes turbine’s effective area.
Moreover, improvement in pressure ratios and reduced lag time are few of the benefits that enhance overall engine efficiency, it also allows flexible air management to optimize combustion. Such value-adding features would push product adoption in the industry.
With regards to the technological landscape, electric-assist turbocharger is anticipated to witness immense growth. The projected growth is being attributed to the numerous advantages it offers.
Incorporation of electric assist turbochargers offers lower level of specific fuel consumption at high speed and helps maintain variations of speed in low load conditions. Optimum fuel usage and maintenance of speed at low loads are the key factors which would positively impel the market outlook.
Companies are using methods and materials to develop lightweight structures and higher-pressure ratios. Citing an instance, in 2016, Kompressorenbau Bannewitz GmbH launched its ST27 turbocharger series. the new product is capable of delivering a pressure ratio of about 5:5:1.
Today, service providers play a crucial role in the upgradation and modernization of existing systems. These efforts are focusing on optimizing operational flexibility and reliability. With these efforts the marine turbocharger market is set to chalk out a lucrative outlook for industry expansion.
Author Name : Bhushan Tambe
An unprecedented shift towards plant-based ingredients across myriad industries has been majorly driving the worldwide grapeseed oil market over the recent years. In the era riddled with the fear and chances of prevalent heart diseases, grapeseed oil acts as an impeccable source of essential fatty acid restricting the chances of heart disorders. This prompts the product to be explicitly used in food and beverage applications on a large scale across the globe.
An upsurge in the prevalence of heart diseases, diabetes, high cholesterol, and obesity has promoted the rise in the growth trajectory of the global market size owing to its wide scale usage in food products.
Grapeseed oil serves as an integral natural antioxidant that possesses, antifungal and antimicrobial properties to augment the immune function and contribute massively towards a healthy body growth.
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The product is best suited to be utilized in various food formulations subjected to its ability to withstand heat and combat inflammation in the body. It serves as a high source of fatty acids, linoleic acid which remains separated in the body and are required for healthy development and growth.
The vegetable oil consumption globally accounted for a revenue share of USD 200 million tons in 2018 in terms of volume. This is attributed to the large scale ingesting of vegetable oil due to high concentration of unsaturated fats which help in maintaining a proper balance of essential levels of omega fatty acids and cholesterol levels.
However, an ideal intake of grapeseed oil would substantially aid in exempting joint inflammation and pain, promoting boost of immunity, reducing the oxidative damage, and augmenting the bone strength.
Likewise, the increasing interest towards natural and non-synthetic ingredients across Europe, led by UK and Germany, has leveraged the production of sustainable and eco-friendly food and beverages. Not to mention, this inclination has led the retail sales of organic food products in Germany to account for approximately USD 11 billion in 2017.
Additionally, high grade advancements in the extraction of plant based derivatives coupled with focus on opting healthy lifestyle would stimulate the grapeseed oil industry outlook over 2019-2025.
The extraction of the oil via the chemical process involves low temperature operation to withhold the corrosion of unsaturated fatty acids leading to the high production output alongside diminished energy consumption. Other than this, the process also offers robust effectiveness in oil extraction from the natural plants for furnishing the industrial scale production.
Given that the cosmetics domain is one of the most profitable application sectors of the grapeseed market, the North America region subsequently stands as one of the most remunerative growth grounds for grapeseed oil industry expansion from the cosmetics sector. Estimates claim that the North America grapeseed oil market size from cosmetics application is likely to cross a mammoth valuation of 85 million by the end of 2025.
The United States is one of the most progressive nations of North America for the expansion of regional cosmetics market. This is probably owing to the paradigm shift towards organic cosmetic products on the grounds of their chemical free nature and skin improving capabilities. Grapeseed oil is rather beneficial in reducing the wrinkles, providing protection against free radicals and high skin hydration.
Reliable reports state that the skincare products hold the largest share of natural and organic beauty products market in the U.S. – accounting for nearly 40 per cent of the business. Surging consumer inclination towards global brands and high economic affluence have further bolstered the grapeseed oil market share across North America.
The diversified landscape of grapeseed oil market has prompted the industry giants to indulge in mergers and acquisitions with an intent to sustain their geographical presence. This has allowed the worldwide grapeseed oil market size to be pegged at USD 560 billion by the end of seven years term.
Author Name : Vinisha Joshi
With growing popularity of convenience food and ready to eat meals, the global food industry has seen surging demand in the past few years. Rapid urbanization, busy consumer lifestyle and time constraints have generated numerous growth opportunities for companies developing packed food products.
Given to the importance of a healthy lifestyle, people are also shifting their focus on consuming different nutrition-rich diets such as air-dried packed food products that offer a plethora of health benefits to the human body. These foods are not only good in taste but also contain ample number of vitamins, antioxidants, fiber, and mineral content.
Being prepared by eliminating water content, the weight of air-dried food items are significantly low which making it easy for transportation and storage. Moreover, these products do not contain any preservatives, artificial colors, and additives, and offer added eco-friendly benefits as they reduce food spoilage which further leads to decreased wastage.
Speculating potential prospects, the air-dried food market is expected to accrue significant growth over the forecast timespan. Extensive advertising campaigns, branding, and supportive government policies could augment industry size. Moreover, Global Market Insights, Inc. predicts that the air-dried food market for B2B could exceed $114 billion by 2026.
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Based on product, the fruits segment in air-dried food market is estimated to amass noteworthy prospects owing to its wide use in puddings, cakes, and other bakery items for adding taste and flavor. Also, air-dried meat products are expected to cross 1,000-kilo tons by the end of 2026 as it a good source of protein and has low amounts of cholesterol and fat. Chunks/pieces would also accrue significant share in the market over the forecast timespan due to its use in numerous dishes and recipes.
In terms of B2C distribution channel, the convenience stores segment is projected to exceed USD 12,000 million by 2026. Despite growing prominence, the segment could likely show slow growth as compared to other segments due to low availability of wide range of products.
Online retailers meanwhile are expected to grab over 10% of volume share owing to recent technological advancements in the e-commerce sector. Hotels & restaurant distribution channel could also likely cross 1,500-kilo tons during forecast timespans as air-dried food products are widely used for preparing numerous delicacy.
According to reports, Europe air-dried food market is anticipated to witness promising growth from the region’s proliferating food and beverage sector. Certainly, the food & beverage sector has a major impact on Europe’s economy, with dried food sales witnessing a surge in line with increasing consumption of processed food products.
Ready to eat meals being prepared with dried foods are easily available in hypermarkets, convenience stores, supermarkets, and local retail outlets in the region. Moreover, based on growing food consumption, Europe could be considered as one of the key regional markets for air-dried food industry.
On a global scale, the air-dried food market is highly fragmented because of the presence of numerous small and medium-scale producers. Some prominent producers in the market include Mondelez International Inc., Nestle S.A., DMH Ingredients Inc., B-B Products (Australia) Pty Ltd., Berrifine A/S, BCFoods, La Frubense, Milne Fruit Products, Inc., Howenia Enterprise Co., Ltd., Saraf Foods Ltd., Van Drunen Farms, Seawind Foods, Thomas Creek Farms.
Author Name : Abhijeet Kakade
Incidentally, consumers have also narrated numerous side effects like stomach upset, toxic reaction, metabolic acidosis and allergic reactions following product consumption, incidents that may restrain the growth of kombucha market.
According to a study, the flavored kombucha market is anticipated to exceed USD 1.5 billion valuations by 2025. The original taste of Kombucha, being effervescent, slightly sweet and tart, has attracted added consumer preference to flavored products. Speculating increasing demand, manufacturers have started to bring new flavors of kombucha to the table.
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For instance, in 2019, Health-Ade Kombucha, an American manufacturer announced the launch of six new flavored products including cherry, tropical punch, grapefruit, passion fruit-tangerine, peach-mango and strawberry-lemonade. Along with offering good taste, these products provide added health benefits owing to key characteristics like organic nature, low sugar content and being gluten-free and vegan.
Speaking on the regional landscape, North America kombucha market is expected to witness prominent growth at a 15.5% CAGR rate during the forecast period. Rising health awareness among Latin American countries including Argentina and Brazil is projected to offer lucrative opportunities for industry expansion.
Regular consumption of kombucha by professional athletics and dances owing to its numerous benefits in arthritis pains, common aches, and muscle stains is fueling product demand. Moreover, to address health issues like obesity, many health and fitness clubs are being developed in North America.
In addition to this, favorable government initiatives such as the President’s Council on Sports, Fitness, and Nutrition (PCSFN) are aiming to fuel sports participation among youth to induce fit lifestyle in America. Such activities are resulting in increasing fitness clubs which has made major industry players widen its product portfolio.
On a worldwide scale, the kombucha market embraces key market players like Red Bull, Brew Dr. Kombucha, KeVita, GT’s and Celestial Seasonings. Companies in this industry are actively participating in mergers, acquisitions, joint ventures and partnerships to provide a variety of products to consumers. High-rise demand and low production cost of kombucha are supporting market growth.
Furthermore, industry leaders are launching a wide variety of flavored kombucha drinks like coffee, ginger, lemon, and berries which could stimulate global Kombucha market growth. For example, in 2019, Equinox Kombucha introduced its latest products named Espresso Coffee, turmeric, and peach flavors. Global Market Insights, Inc. meanwhile suggests that the global kombucha market is likely to exceed USD 5 billion valuation by 2025.
Author Name : Abhijeet Kakade
U.S oil & gas analytics market to record significant gains as oil companies leverage data analytics to foster business growth
The U.S oil and gas analytics market would likely witness promising growth on account rising adoption of data gathering devices. Increasing use of IoT as well as IIoT is further supporting this growth. The American oil and gas industry is looking to transform its value chain entirely and data gathering and IoT devices are effectively supporting these efforts.
Key players in the region are focusing on effective management of operation and cost and advanced data analytics software are likely to contribute significantly towards these efforts.
Increasing upstream oil and gas investment, increasing adoption data collection devices, and robust investment towards infrastructure are some of the prominent factors that are stimulating the market growth.
Moreover, increasing stringency of cybersecurity regulations in the country would likely foster use of advanced data analysis software solutions in the coming timeframe.
Increased spending on O&G infrastructure would also considerably increase the adoption of analytics tools across numerous verticals. Increasing volumes of oil and gas supplies have instigated the need for additional infrastructure across the United States with Southwest and Northeast regions contributing over 36% and 19% of total infrastructure investments in the country.
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According to a 2017 API report, the refining as well as the gathering & processing divisions accounted for around USD 5.2 billion and USD 4.9 billion respectively.
The ample availability of proven oil and gas resources supplemented with an exploration of unconventional reserves would positively impact the business growth over the forecast period.
According to the U.S Department of Energy, proven gas reserves increased by 85%, which is more than 450 Tcf, in 2019. Moreover, the growing need for production optimization along with the current deployment of IoT and IIoT across drilling and production assets could drive industry landscape over the forecast period.
Meanwhile, with several technological advancements, the companies are now able to generate real-time information from production platforms and reservoirs. This enables companies to make an early prediction regarding equipment failures. With recent enhancements in cloud computing capabilities, advanced network security, unlimited storage, and cost saving the requirement of data analytics has further escalated.
The industry has seen a shift from on-premise applications towards hosted. This shift is being supported by key benefits such as easy data sharing and integration, reduced cost, and automatic system updates. High maintenance and upgradation cost, hardware deterioration, and probability of permanent data loss associated with on-premise applications have further restrained their adoption in the industry.
Current business partnerships to attain a leading position in the industry is a key growth strategy followed by the companies. Constant spending on technology innovation is bringing advanced analytics solutions in the industry.
The companies are also involved in mergers and acquisitions to gain technological excellence. Furthermore, they and are also investing heavily to bring innovations in the industry.
Major players operating in the U.S oil and gas analytics market include Accenture, IBM, Cognizant, and Microsoft Corporation. These industry leaders are actively seeking strategic collaborations with technology providers for product innovation to gain competitive advantage. Global Market Insights, Inc. anticipates that the U.S. oil and gas analytics market could likely grow more than 14.5% by 2025.
Author Name : Abhijeet Kakade