HVAC and Construction
Bucket trucks market size is garnering increased momentum demand all over the world, from the rapid growth of the construction sector as a result of investments in infrastructure development projects. Considerable increase in the global population has resulted in large-scale urbanization over the past few decades, which is driving the demand for smart and sustainable infrastructure solutions.
These utility vehicles facilitate easy lifting of people in the air or at heights where ladders cannot be used, or the use of ladders is unsafe. However, the maintenance of these trucks is quite a complex task that involves a number of steps such as checking the working condition of battery, engine, power steering, transmission and wheels. Higher maintenance costs may impact bucket trucks industry trends in the coming years.
Regulatory authorities such as ANSI and OSHA are enforcing norms that require utility vehicles to undergo regular inspections. This helps ensure operator safety and optimizes performance. Following are some other prominent trends that are anticipated to propel bucket trucks industry outlook over 2018-2024.
- Booming global utility sector
Fast-growing world population has gradually fueled the demand for high-quality reliable power. Governments in many regions around the world are making investments to upgrade their existing grid infrastructures. Increasing number of grid development projects will certainly accelerate the demand for insulated bucket trucks in the near future.
These trucks find widespread use in the utility sector. They facilitate safe conveyance of linemen to large heights where they perform tasks such as maintaining, improving and managing electric power distribution and telecommunication network.
Surging demand for these trucks from the utility & power sector will provide tremendous growth opportunities for bucket trucks market size.
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- Growing deployment in telecommunications
Proliferation of smartphones worldwide is adding up to the demand for enhanced and seamless connectivity. Several regions are increasingly spending on telecommunication infrastructure development projects to address this burgeoning demand.
Presence of major telecom companies in developing economies and their efforts to upgrade existing network is assisting the business growth.
Global bucket trucks industry is gaining immense traction on account of extensive use in the telecommunication sector. These trucks are available in various designs and the sturdy built of these trucks makes them best-suited for a range of applications in the telecom sector.
- Increasing construction activities worldwide
Several countries in Europe, Asia Pacific and the Middle East are focusing on refurbishing the existing infrastructure. These countries are undertaking large-scale residential as well as commercial construction and renovation projects to meet the ever-growing demand for commercial buildings and houses.
Ongoing refurbishment projects such as The Al Maktoum Airport project in Dubai and Beijing Airport project in China, as well as upcoming construction projects like Jubail II, the industrial city project in Saudi Arabia, are a few examples.
Asia Pacific countries including China and India are favoring reliable lifting equipment over conventional machines to ensure operator safety, which will complement bucket trucks market outlook over the projected timeline.
- Economic growth in Europe
Presence of major rental companies such as Haulotte Group, Riwal and Kiloutou in the U.K. is anticipated to promote the regional growth. Utility & power and telecommunication sectors in the region are expanding at a rapid pace.
Flourishing construction sector in the region will present new opportunities for market players, from consistent need for hazardous development, repair and maintenance works. UK construction sector is increasingly focusing on replacing conventional construction equipment with advanced lifting equipment.
However, the impact of the country’s decision to leave the European Union (EU) may create market risks for certain companies. Further, continuous slowdown in the international trade along with geopolitical uncertainties may impede the regional demand up to some extent, impacting bucket trucks market size.
Author Name : Hrishikesh Kadam
Growing prevalence of landscape modelling culture in developed nations will bolster North America and Europe leaf blower market. Lawns have long been considered central to the American landscape for their value for promoting health & relaxation; they are commonly adopted by hospitals, in order to reduce patient recovery time and by organizations, to improve well-being of their employees.
A well-maintained turf provides substantial cooling effect. For instance, the turf from as few as 8 medium-sized front lawns can provide cooling comparable to air-conditioning for 18 homes.
Golf courses, playing fields and parks benefit from the cooling effect and the cushioning effect from well-maintained turf that results in reducing injury from playing that can occur on harder surfaces.
According to Department of Revenue, Washington State’s lawn-garden supplies and equipment revenue amounted to around $291.8 million in 2017, which witnessed an increase of 19.7% from the previous year. Increasing demand for lawn-garden equipment is estimated to drive the leaf blower market over 2019-2025.
Following below is a list of factors influencing North America and Europe leaf blower market trends:
Growing prevalence of home lawns and gardens to augment North America and Europe leaf blower market:
Lawns and gardens are a significant part of the modern American lifestyle. Well maintained turfs increase the property value, contribute to social harmony, compliment other landscape elements and are a status symbol for many. With growing trend of well-maintained home lawns and gardens, requirement of a significant number of lawn and garden equipment for maintenance of the same is also increasing.
In 2018, residential gardens and lawns generated a revenue of over $350 million. The ageing and retired population will be key drivers of gardening sales owing to idle time utilization in gardening activities. Moreover, the baby boomer generation reaching the retirement age is also expected to provide significant push to the gardening equipment market augmenting North America and Europe leaf blower market.
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Cord-less leaf blowers are rapidly penetrating the North America and Europe leaf blower industry. They come with a rechargeable lithium-ion battery that you can be used for up to 35 minutes, to clean a small or medium-sized garden. They are also equipped with a removable blower, that does not require much space for storage.
Home lawns and gardens, however, are just part of the picture. There are innumerable turfs in golf courses, athletic fields, parks and business parks across the North America and Europe, most of which require considerable maintenance. The turfgrass industry is estimated to be worth around $40 billion, which includes a broad array of sod farms, equipment, manufacturing and maintenance. Much of the North America and Europe leaf blower market share is expected to be garnered from increasing intensity of turf management industry.
Grass field maintenance to augment North America and Europe leaf blower market outlook:
Deterioration of the playfield surface quality, which lead to cancellation or postponement of games and training are problems that occur in outdoor games. But with dedicated plans for a healthy playfield surface that can be achieved with the help of gardening instruments, this problem is being managed and is reducing the incidence of forced cancellations.
Artificial turf industry is also gaining traction, owing to product utilization for playfields and recreational purposes. Playfields utilizing artificial turf meet better safety requirements. Artificial turfs are installed adequately without giving up the natural look of grass. They offer a cushioned surface that helps in absorbing shock and potentially minimize the severity of fall injuries. Artificial turfs are easier to clean, and their increased adoption will also add impetus to North America and Europe leaf blower market expansion.
Increasing adoption of leaf blowers for commercial use:
Leaf blowers are designed to efficiently push leaves and litter into manageable piles, so that they can be collected and composted. They are ideal for keeping parks, stadiums, gardens, and streets neat and tidy.
Oak trees and abundant in North America and Europe but in the fall, oak leaves cover the lawns, yards, streets and swimming pools with a generous layer of leaves. Oak-nuts become a hazard on the sidewalk or footpaths around the streets and residential area. Leaf blowers are a significant gardening product for North American & European landscapes for managing leaf litter in these regions.
Leaf blowers stand out as great tools for removal of leaves, weeds and other debris without damaging the grass. The leaf blower market is gaining traction owing to extensive commercial usage in corporate office lawns, swimming pools, spas, garden ponds, historical buildings, etc. Gas type leaf blowers are likely to account for one-third of the overall leaf blower market by the end of the forecast timeline.
Growing prevalence of lawn-garden maintenance, increasing suburban landscapes and growing application for commercial use is estimated to add impetus to the leaf blower market. As per Global Market Insights estimates, North America and Europe leaf blower market size may surpass $1.6 billion by 2025.
Author Name : Aakriti Kakkar
Over the past few years, bakery processing equipment market trends have witnessed a steady transformation, owing to the increasing innovations in bakery products such as cookies, pies and crackers globally. Continuous changes in consumer lifestyles create a heavy demand for on-the-go food products, especially bakery items, driving the expansion of food processing businesses and fueling bakery processing equipment industry share over the forecast timeframe.
UK Bakery Processing Equipment Market Share, By Type, 2018 & 2025 (USD Million)
Sheeters and molders are amongst the most widely used bakery equipment tools owing to their capability to shape doughs of all sizes reliably and efficiently. Sheeters eliminate the process of physically kneading the dough, increasing the productivity. Additionally, the equipment enhances quality by providing precise thickness and flawless consistency to complex bakery products like croissants and certain pastries.
The use of dough sheeters will certainly aid in the growth of a bakery operations by facilitating fast, safe and highly reliable end products, further propelling bakery processing equipment industry outlook.
With the rising consumption of packaged food worldwide, the demand for frozen bakery products have also risen. In developing countries like India, where according to reports the processed food market accounts for 32% of the total food sector, manufacturing of frozen food products has accelerated considerably. A rise in demand for frozen food in other emerging economies will undoubtedly foster the demand for bakery supplies and equipment worldwide. Another key factor will be bread production, as the consumption of bread has gained momentum all over the world.
The American Bakers Association in collaboration with Grain Foods Foundation celebrates National Bread Month with an aim to educate consumers about the various health benefits associated with the consumption of grain foods. On the other hand, European Union is witnessing high consumption levels of bread.
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According to Federation of Bakers Ltd., the UK bread industry is valued at around 3.8 billion pounds annually, employing a large number of people to meet the growing supply across the nation. The average bread consumption in the region per year is around 50 kg per person. Amplifying demand for bread will positively influence bakery processing equipment market outlook.
In terms of geographical expansion, the fast-growing food & beverage sector in North America has contributed immensely towards boosting the remuneration scale of the global bakery processing equipment industry. There has been consistent adoption of highly advanced equipment to meet the massive bakery demand by leading food processing companies. According to reports, in 2018 the North America bakery processing equipment market share was estimated at USD 1.5 billion.
According to American Bakers Association, the baking industry in the U.S. has an economic impact of nearly USD 153 billion. The U.S. government has levied strict rules and regulations to ensure food safety across the country. The change in consumer pattern towards healthy food consumption has led to enhanced bakery products such as multigrain cookies, wheat bread, among several others. U.S. food safety association has set up separate departments to monitor the safety and quality of food. The growing demand for safe and innovative bakery products along with stringent safety norms will reinforce North America bakery processing equipment industry size.
Bakery processing equipment demand, in essence, is driven by the growing consumption for processed food worldwide. Evolving eating habits especially in the developing nations where more women are now working has surged the sales of packaged food and frozen bakery products.
Innovations in the bakery processes have led to the development of highly advanced bakery supplies, equipment, tools and techniques to simplify the production along with meeting the overwhelming demand. According to a report by Global Market Insights Inc., global bakery processing equipment market size is expected to surpass USD 11 billion by 2025.
Author Name : Shreshtha Dhatrak
Owing to the expanding real estate sector and emergence of luxurious homes, global wooden furniture market size is poised to witness robust growth over the forecast years. Growing population in conjunction with changing lifestyle and increasing customer preference towards customized and unique furniture options will propel the demand for wood-based options. The ability to provide compact and portable solutions for indoor, outdoor and commercial uses will considerably outline wooden furniture industry trends.
North America Wooden Furniture Market, By Application, 2018 & 2025, (Thousand Tonnes)
As the world is becoming more conscious regarding the sustainability of the environment, the demand for eco-friendly products is increasing day by day. Today, furniture manufacturers have attracted a host of companies to introduce innovative furniture creations by adopting sustainable practices in their manufacturing processes. For instance, recently the Philippines’ Department of Environment and Natural Resources is ardent on expanding bamboo plantations and setting up processing plants on Panay Island to accelerate wood supply in the country, presenting new opportunities for wood furniture manufacturers.
With the rapid development of high-rise commercial and residential complexes, consumers are purchasing an increased number of high quality products and opting for diversified design solutions. Substantial availability of beautifully crafted pieces of furniture that provide comfortability and adorns the homes of people are transforming the furniture products landscape globally, further driven by a surge in disposable incomes. Prominent reports suggest that in 2018, the residential segment had contributed over 65% toward global wooden furniture market share.
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The landscape for luxurious and modern furniture brands has been changing dramatically, as interior designers and house owners give more focus to the layout of furniture within the overall design, which is the essential component of home décor. Growing consumer inclination towards lavish, long-lasting furniture with sleek designs have invariably escalated revenue prospects for wooden furniture industry and enhanced the product adoption amongst residential buildings. Online sales and delivery of furniture has considerably impacted the industry expansion.
Samson Holding, one of the leading wholesalers in the residential furniture sector, had confirmed the acquisition of a 70% stake in a Timber furniture factory situated in Vietnam earlier in July 2019. The acquisition is a strategic move to support Samson Universal Furniture brand, that remains a reliable partner to interior designers and retailers across the world. Similar growth strategies and long term contracts, along with rising furniture production, will drive wooden furniture market outlook.
A reputed studio has recently designed new, innovative furniture solutions for social housing all across Mexico, which includes wood-based products. Consistent need for residential furnishing across the world will sustain demand for affordable and reliable furniture over the next few years. Rising population in emerging economies will further bolster product adoption. Novel designs and introduction of modern residential projects, supported by a thriving manufacturing sector will provide a massive push to global wooden furniture market share.
Asia Pacific region is one of the biggest exporters of furniture worldwide and had accounted for more than 45% of the global wooden furniture industry share in 2018. The rise in advanced manufacturing equipment, superior technical skills of workers, as well as the rise of e-commerce has tremendously changed the facet of furniture domain. Emergence of large retail players and entry of global brands in the region, coupled with increased propensity to spend on top-notch products to raise the standard of living will strengthen the consumption of furniture.
Manufacturers and large scale retail companies are expanding their reach by producing high quality furniture to meet the demands of domestic and foreign markets, contributing enormously to the Asia Pacific wooden furniture market size. With growing competition among key industry players, engaged in mergers and acquisitions as well as manufacturing of innovative products, the region can be expected to depict augmented furniture consumption over the coming years.
Notable players comprising the competitive hierarchy of the industry including Herman Miller, Inc, Samson Holding Ltd., Dorel Industries Inc., Meike International Household Products Co. Ltd., and Sauder Woodworking Co and Kimball International. Global Market Insights, Inc. has estimated that wooden furniture market size will exceed USD 580 billion by 2025.
Author Name : Deeksha Pant
Industrial cooling system market to be driven by increasing infrastructural development in developing economies over 2019 to 2025
Industrial cooling systems market size is poised to attain substantial growth over the forecast years owing to the rising investment in infrastructural development along with the ever-growing worldwide manufacturing sector. Companies are expanding their manufacturing facilities to enhance their global presence and increasing competition is encouraging the manufacturers to invest in the development of innovative and energy efficient cooling systems, invariably propelling the demand for industrial cooling systems.
France Industrial Cooling System Market, By Application, 2018 & 2025 (USD Million)
The rate of infrastructural and industrial development in developing nations of the APAC region is steadily driving industrial cooling system market outlook. According to a study by IMF (International Monetary Fund), the Asia Pacific region has witnessed a GDP growth rate of 5.1% in the year 2019. This financial momentum implies a rapid development in different sectors of the region and the apparent increase in infrastructural enhancement as well, necessitating the establishment of a cooling system mechanism.
In 2018, the U.S. EPA launched the Affordable Clean Energy Rule (ACE) which mandates that the existing coal-fired power plants must limit greenhouse gas emissions, thus requiring the installation of energy efficient, CFC-controlled cooling systems and the overall enhancement in the industrial cooling system structure. In this context, the cooling industry has witnessed a growing demand for evaporative cooling systems owing to its various features such as minimal energy consumption and lower operating temperature.
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According to a study, the evaporative cooling systems result in 50% energy savings and the maintenance and installation cost is 25% less than that of traditional cooling systems. The basic principle behind this cooling system is similar to that of perspiration wherein a cooling tower – which is a heat rejection device – discharges warm air from the cooling tower to the atmosphere via the cooling of water. These systems require 70% less water as compared to traditional air-cooled systems, thereby reducing the formation of algae, legionella bacteria and fungi which invariably lowers the maintenance cost.
Another widely used type of industrial cooling system, especially in airports, is the hybrid cooling system. Here, the hybrid cooling towers are specifically designed to avoid any plume in cold and humid ambient conditions. These cooling systems are known to reduce the water consumption by 80% by utilizing wet cooling when it’s hot and vice versa. Hybrid cooling mechanism can be beneficial in power plants that are affected by water scarcity and other environmental impacts. Other areas where hybrid form of industrial cooling is being installed include data centers, petrochemical manufacturing plants and chiller plants, essentially favoring industrial cooling system industry trends.
When it comes to the application domain of industrial cooling system market, the food and beverages sector is emerging as one of the leading growth verticals over the last few years. Due to low shelf life of food and beverages, the sector needs an advanced, robust, cost effective and an efficient infrastructure of cooling systems.
Stringent regulatory standards and cost-competitiveness necessitates the installation of cooling systems for various food products such as meat, seafood, poultry, dairy bakery, etc. Different types of cooling systems along the likes of climate control for cheese making, process cooling for brewery and distilleries, air or water cooling for meat products, and flash freezing of certain foods are gaining popularity, benefiting the revenue portfolio of industrial cooling system market.
Speaking of the competitive hierarchy, several companies are working on research and development projects to create technologically-advanced yet cost effective methods of cooling. Moreover, a few major industry players are setting-up research centers to gain competitive edge over rivals. For example, Johnson Controls announced the setting up of 9,00,000-square-foot center of excellence design, manufacturing and testing of HVAC rooftop units in Oklahoma. Needless to mention, the launch of such technically superior research centers would drive industrial cooling system market share in the times to come.
With the establishment of many foreign manufacturing and production units in the developing nations, the demand for industrial cooling systems is rising steadily. Moreover, favorable government regulations coupled with ever-expanding application domain would increase the product demand. Many companies are aiming to provide energy efficient, low power consuming modern cooling solutions in the years to come, which would accelerate industrial cooling system industry size in the forthcoming years.
Author Name : Shreshtha Dhatrak
Increased demand for long distance freight shipping will foster global shipbuilding industry, thereby driving ship plate market trends. The shipbuilding industry continually requires large quantities of structural steel plates primarily to build ship’s hull, main deck and sides. The product is designed to offer enhanced features like high tensile strength, corrosion resistance, reduced ship weight and lower cost maintenance. It also provides good welding performance, processing performance and high surface quality.
China Ship Plate Market, By End-user, 2014 – 2025 (USD Billion)
With rapid development in the marine industry, ship plate market will witness exponential growth over coming years. Ship building industry trends such as demand for new, more environmentally friendly ships will further bolster ship plate market size. Moreover, rise in ship renovation and modification activities will augment product demand, fostering ship plate market growth.
Based on the product spectrum, ship plate market comprises two segments namely carbon steel and stainless-steel plates. Modern cargo tanks are mainly constructed using stainless steel plates owing to their superior mechanical properties and considerable corrosion resistance. Stainless steel differs significantly from standard carbon steel, primarily owing to the presence of chromium which reduces surface corrosion and unlike carbon steel doesn’t get easily rust when exposed to air and moisture in sea.
These key properties have led to increased traction gained by stainless-steel plates market in the manufacturing of tanker vessels that carry toxic chemical products. Rapid growth in steel manufacturing industry along with development of enhanced materials will augment the growth of stainless-steel ship plate industry size.
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In the modern ship building industry, a combination of duplex stainless steel and stainless clad steel are used to build cargo tanks which offer greater strength and excellent corrosive resistance. With increasing use of chemical tankers, carriers, and containers, stainless steel plate is expected to dominate ship plate market share in upcoming years.
Asia Pacific will secure about 90% of the global ship plate market share over the forecast period. Factors like increasing shipbuilding activities, availability of shipbuilding infrastructure and supportive government investment will drive regional ship plate market growth. Moreover, presence of shipbuilding conglomerates like China Shipbuilding Industry Corp., Mitsubishi Heavy Industries, Hyundai Heavy Industries, China State Shipbuilding Corp. and Samsung Heavy Industries will support ship plate industry expansion.
Credible reports cite that Asia’s shipbuilding industry share is rapidly expanding, with China, Korea, and Japan accounting for over 85% of global production. Technological advancements in the shipping industry is estimated to propel market size. For example, in 2019, China unveiled the world’s first intelligent Very Large Crude Carrier (VLCC) with a capacity of over 2.257 million barrels, trends that are likely to drive ship plates demand.
Adoption of novel shipbuilding technologies coupled with rising investments will accelerate industry outlook in the future. For instance, in 2019, China Shipbuilding Industry Corp. (CSIC) announced plans to speed up development of intelligent manufacturing processes at its shipyards as part of its efforts to build high-end ships. Furthermore, CSIC recently signed agreements worth 14.3 billion yuan (around USD 2 billion) with domestic and global shipowners & customers in the shipbuilding, ship-financing and ship-leasing sectors, thus adding further credibility to the promising forecast for APAC ship plate market.
Increase in number of new cruise ship orders will drive Europe ship plate industry size. The region’s shipbuilding industry is renowned for construction of complex vessels like cruise ships, ferries, yachts, and dredgers. It also boasts of a strong position in building submarines and other naval vessels. The region has secured significant number of shipbuilding orders in past couple of years.
In 2019, European cruise firm Riviera River Cruises announced plans to launch its sixth all-suite ship by 2020. In 2018, privately owned European operator MSC Cruises had announced orders for four ultra-luxury cruise ships worth over €2 billion euros (US $2.3 billion), with the first among these expected to go operational by spring 2023. With growing investments and cruise firm expansion, the Europe ship plate market size is anticipated to record momentous growth over the forecast period.
Ship plate market is primarily driven by rising development of new ship vessels and increase in trade activities facilitated by ship freight. Increasing use of stainless-steel plates owing to their excellent mechanical properties and corrosion resistance will boost industry size. Moreover, increasing shipbuilding activity in the Asia Pacific and Europe is anticipated to drive ship plate industry growth. Global Market Insights, Inc. estimates ship plate market size to surpass USD 38 billion by 2025.
Author Name : Mateen Dalal
Rapid industrialization and urbanization across developing nations are expected to drive flanges market growth. Flanges are effective metal parts that connect different pipes, valves, pumps and other equipment to form a pipeline system. They are mostly used for the joining process after welding and offer immense flexibility for pipeline maintenance. Flanges act as a vital component for systems that require regular cleaning, inspection or modification.
Flanges come in different material types like stainless steel, aluminum, brass, cast iron, bronze, plastic etc. and are increasingly used in industries like oil & gas, petrochemicals, chemicals, and power generation. Growing investments across the oil & gas sector coupled with supporting government plans will expand flanges market size. For instance, in 2018, the Government of India announced plans to invest USD 9.97 billion to expand its gas pipeline network across the nation.
U.S. flanges market, size, by end-user, 2014 – 2025 (USD Million)
By shape, weld neck flanges segment will account for about 60% market share by 2025. The product is increasingly used in critical application that comprise conditions like high temperature, high pressure, volatile and hazardous fluids, and temperatures around sub-zero range.
Weld neck flanges are machined to match a connecting tube’s internal diameter, eventually offering reduced friction and avoiding turbulence to gain less vibration and smoother, low noise flow. It offers more accurate and easier pipe alignment, effectively saving time on installation. Moreover, it offers excellent stress distribution and can easily be radiographed for detecting flaws.
The socket weld flanges segment has also attained significant market penetration in recent years. It is mostly used in smaller sizes due to its ease of application and accurate alignment. It is also used in high-pressure system like in chemical processes, hydraulic and steam distribution lines that do not transfer highly corrosive fluids.
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The product offers higher fatigue strength, approximately 50% greater than double-welded slip-on flanges. With such profound features, both weld neck and socket weld flange segments will record increased demand over the forecast period, supplementing flanges industry size.
As far as material is concerned, stainless steel has witnessed increased demand in water treatment plants. The material possesses higher corrosion resistance, allowing it to perform well at times of maximum flow rates. Industries are increasingly opting for high grade, low carbon stainless steel flanges owing to their ability to work with various wastewater management operations more effectively.
In addition to water treatment plants, stainless steel flanges are also used in petrochemicals, offshore oil drilling operations, power generation, sea water equipment, gas processing systems and more. Reliable reports suggest that the segment will account for approximately 45% of the total flanges market share by 2025. Moreover, the material’s environment friendly and cost-effective properties are estimated to encourage industry adoption, fostering market size.
APAC flanges market is estimated to register commendable proceeds from wastewater management application. With expanding population and urbanization, wastewater management has become crucial across developing nations. Flanged pipes are mostly used in water and wastewater treatment plants due to their ease of assembly and disassembly. Increasing investments and government initiatives to support water conservation will propel flanges industry size across the region.
In India, the Karnataka state government recently submitted a draft policy and action plan for using recycled wastewater, under which it calls for reusing over 20% secondary treated water in the state by 2020. Such initiatives will make way for new growth opportunities in the wastewater management sector, driving APAC flanges market growth.
Flanges market is witnessing immense traction on account of increasing product application in end-user industries like oil & gas, chemical and water treatment. Growing awareness regarding wastewater treatment and supportive federal initiative will propel product demand. Global Market Insights, Inc. estimates flanges market size to exceed USD 6 billion by 2025.
Author Name : Mateen Dalal