HVAC and Construction

Growing demand from construction sector to bolster forestry equipment industry trends

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Forestry equipment market growth will be driven by increasing usage of timber in residential and commercial construction applications along with mounting need for timber harvesting. Forestry equipment is primarily used in heavy-duty operations such as lodging, forest & wildlife management, sanctuary conservation and vegetation clearance. The equipment is also used to manufacture furniture, wood pellets, wood panels, for pulp processing and wood processing.With rise in disposable incomes, urbanization rate is speeding up and so is the need for housing and sanitation to accommodate more people in cities. Growing demand for wood-based products from construction and real estate sector may supplement forestry equipment market share over the coming years. Global forestry equipment market size is forecast to surpass USD 17 billion by 2026.

Forestry equipment is widely utilized for making wood chips, cutting trees, delimbing, and dragging woods to certain locations. Increasing investments in R&D for the development of wood-based innovative products is propelling the demand for forestry equipment. Moreover, wood-based panels such as particleboard, plywood, Oriented Strand Board and fiberboard are in high demand and will thereby augment the adoption of equipment for raw material harvesting.

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Focus towards vegetation conservation, management and restoration of national forests is gradually increasing. The government authorities across the United States are largely supporting timber harvesting or regeneration treatments to stabilize the ecosystem. Rise in number of natural calamities has instigated government authorities to undertake reforestation initiatives to protect affected watersheds. This is likely to create a massive demand for forestry equipment.

Chippers are expected to experience major adoption owing to increasing demand for wood chips in construction, as fuel & composting materials and for erosion control. Wood chips and other organic matters such as grass cuttings and dead leaves act as excellent fertilizers. The emergence of organic farming has created huge demand for processed wood chips.

To cater to the growing demand, manufacturers in the forest equipment market are launching affordable self-propelled chippers for speedy and efficient functioning. For instance, Alle Rechte vorbehalten in 2019 launched a self-propelled chippers variant, equipped with an engine having 612 – 768 horsepower.

North America is likely to emerge as a profitable revenue terrain for forestry equipment industry owing to mounting demand for saw logs and roundwood from the region. Major players across the region are launching new products equipped with advanced engines, better safety features, efficiency and high productivity. For instance, in 2017, Hitachi planned to launch a new forestry equipment in North America. The machine featured a Stage IV Isuzu engine which would aid in enhancing productivity while lowering maintenance costs.

Key players operating in the forestry equipment market are Caterpillar, Komatsu Ltd., Deere & Company, AB Volvo, Doosan Infracore Co. Ltd., Barko Hydraulics LLC, JCB, Liebherr Group, Bell Equipment, Hyundai Heavy Industries Co. Ltd., amongst others.

With increasing consumption of wood-based products in infrastructure development, the forestry equipment rental service is rapidly growing across the North American region. Leading businesses such as Caterpillar & Deere, are providing forestry equipment rental services to cater to the mounting demand. For instance, in August Komatsu appointed TEC (Tractor & Equipment Company) in 2019 as its distributor in North America region.

Author Name : Aakriti Kakkar

Industrial air compressor market to record substantial gains from oil-filled compressor segment over 2019-2026

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Ever-increasing manufacturing activities commenced across developing nations have accelerated the demand for industrial air compressor in recent years. Industrial air compressors are widely used across manufacturing sectors like heavy engineering products, steel fabrication, automotive production, energy & mining, pharma, food & beverage, and others. With profound application across such several end-use sectors, the industrial air compressor market is anticipated to accrue prominent growth over the forecast period.

Technological advancements in pneumatic equipment like actuators, robotic arms, and assembly lines would generate lucrative growth opportunities for the industrial air compressor market. Global Market Insights, Inc., meanwhile predicts that the industrial air compressor market may surpass USD 24 billion by 2026.

 

Industrial Air Compressor Market

Based on lubrication, the oil-filled air compressor segment has registered immense application in the manufacturing sector owing to its minimum cost and robust application advantages over oil-free alternatives. These compressors are used across nuclear, hydroelectric and thermal power plants. The oil-filled industrial air compressors are regularly employed in drilling, mining, and quarrying activities to power pneumatic drilling equipment. With growing applications in numerous industries, studies suggest that the oil-filled industrial air compressor industry may surpass over USD 10 billion by the year 2026.

As per technology, the market is classified into reciprocating, rotary, and centrifugal air compressors. Out of these segments, rotary air compressors are slated to be good energy conservers and can generate less heat compared to other air compressors. They are also renowned for consuming less oil. In 2018, rotary air compressors market was accounted for over 55% of the market share. Moreover, with growing prominence, it is estimated to witness significant traction over the forecast period.

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On a regional front, APAC is expected to generate lucrative growth opportunities for the industrial air compressor market. The region has witnessed rapid industrialization over the past few years. In 2018 alone, the regional market accounted for approx. 40% of the global output.

Activities like construction, manufacturing, and mining in the region are shaping the growth trajectory of the market. All these factors are slated to significantly drive APAC industrial air compressors industry expansion in the forthcoming years. However, stringent emission norms could restrain the size of industrial air compressor market in APAC.

Reportedly, the industrial air compressor market is fragmented with the presence of prominent manufacturers like Doosan Portable Power, Mat Holdings, Quincy Compressor, Hitachi, Rolair Systems, Sullivan-Palatek, Gardner Denver, Elgi Compressors, Atlas Copco, Ingersoll-Rand, Kaeser Kompressoren, Bauer Compressors, Sullair, Ciasons Industrial, Aerzener, and Heyner.

Frontrunners like Gardner Denver, Atlas Copco, and Ingersoll Rand have a strong presence in the global market. Strategies such as subsidiaries and joint ventures have mainly led these firms to attain lucrative growth opportunities.

Author Name : Abhijeet Kakade

Robust demand for Knuckle boom crane slated to spur offshore crane market dynamics

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Sustained demand for maintenance & repair of oil & gas extraction systems is poised to fuel offshore crane market size. A notable uptick is being witnessed in subsea construction projects followed by infusion of investments, thereby signifying the relevance of maximum safety and high lifting capacity. Prominently, offshore cranes are highly sought-after in pipe maintenance & repair operations.

Stakeholders anticipate demand for knuckle boom cranes to proliferate against the backdrop of low maintenance and maximum efficiency requirements. These robust cranes find increased application in loading and unloading operations. With knuckle boom cranes providing improved strength and flexibility, they have become popular in marine and oil & gas industries. Meanwhile, lattice boom crane and telescopic boom crane will also provide impetus to the offshore crane market size. Dramatic rise in the construction of new ports & harbors will further boost offshore crane market share during the forecast period 2019-2026.

Offshore crane market size is expected to surpass US$ 5 billion by 2026, according to the latest research report by Global Market Insights, Inc.

With lifting capacity of over 5,000 mt, popularity of heavy-duty offshore cranes is set to spur the demand for the cranes as they apparently perform efficiently in hostile condition. It is prudent to mention that these dynamic cranes are increasingly used in the construction of large oil & gas and windfarm projects in offshore ambience.

North America offshore crane market share is expected to expand robustly in the wake of an upsurge in demand for electricity witnessed in the U.S. Reportedly, the U.S. government is vying to produce maximum electricity stemming from renewable energy sources such as offshore wind. Of late, demand for renewable energy has surged in the backdrop of burgeoning urbanization and rampant population. For instance, in 2019, Vineyard offered an 800 MW wind farm project in Massachusetts to provide electricity to over 400,000 homes with clean energy. Apparently, the company is contemplating investment of around US$ 2.8 billion for development of project.

Government initiatives across India and China aimed at bolstering renewable energy landscape are expected to remain catalyst in fueling offshore crane market revenue during the assessment period. Prominently, attributes such as better vessel stability and light weight make offshore crane highly sought-after among end-users.

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MEA offshore crane market size is likely to augment during the forecast period as the region is replete with investments. For instance, National Petroleum Construction Company (NPCC) in November 2019 proclaimed an investment of US$ 89.8 million to spur subsea construction projects in the UAE. According to several reports, NPCC is contemplating product expansion as they look to underpin many deep-water projects not only in the Gulf but also across the globe. Meanwhile, high maintenance and operational cost may derail the growth of offshore crane market.

Leading companies are overwhelmingly prioritizing strategic business strategies such as price and product differentiation strategies. Prominent players eyeing for offshore crane market size expansion are Liebherr, Palfinger AG, National Oilwell Varco, Huisman Equipment, Kenz Figee, MacGregor, Seatrax and Heila Group. These companies are increasingly investing in research and development activities to help boost reliability and energy efficiency.

Author Name : Sunil Jha

Flourishing real estate sector to propel U.S. home remodeling market outlook through 2026

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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

Robust growth of mining sector to boost rubber conveyor belt market forecast

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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

Soaring popularity in commercial spaces set to accentuate robust growth in range hood market

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Range hood market size is poised to increase in the wake of burgeoning millennial- and gen-Z population. The tendency to add charm and elegance, and urgency to ward off irritants, odors, and grease which are expelled into the air have signified the relevance of range hoods. One of the common trends in kitchen designing has been the inclination to remove walls in the kitchen to make a spacious environment.Along with reducing the amount of toxic air, range hood has become popular to help cut down development of germs, bacteria and mold in the kitchen. Commercial kitchen has been a major recipient of range hoods, with wall-mount gaining overarching traction. Consumers are vividly inclined towards wall mount commercial wood for it offers seamless ventilation power.

Grime and grease deposits tend to coagulate and turn into flammable glue-like substance inside the commercial kitchen hood system, thereby placing customers, employees and assets into potential danger of fire emergency. Range hood, thus, has gained traction in hotels and restaurants. The expansion of Quick Service Restaurants (QSRs) and food outlets has added further impetus to the commercial range hood systems. As such, commercial range hood system segment is anticipated to expand substantially during the forecast period.

Global Market Insights, Inc. projects range hood market size to exceed US$ 10 bn by 2026.

The residential sector has been one of the major revenue grounds for stakeholders as far as the adoption of range hood is concerned, as it tends to bring style and add aesthetic value to the home, along with enhancing air quality and home value. With the surge of sleek and stylish kitchen appliances, range hood has become the linchpin and decorative feature in the kitchen. To reiterate, range hood helps improve air quality by obliterating odors, grease, smoke that are released while cooking. Global Market Insights, Inc. predicts heightened investment in the installation of residential range hood.

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The emergence of smart range hood has augured well for the industry as end-users vie to offer seamless experience to customers. The inclusion of touch control and LED lighting has complemented smart range hood. Stakeholders are increasingly integrating LED lighting to conserve energy and play invaluable role in conserving environment.

North America and Europe are set to reign supreme in range hood market against the backdrop of soaring palpability of commercial range hood systems. Notable development of foodservice industry and increased demand for modular kitchen serve as a catalyst in the expansion of North America range hood market size. Presence of prominent manufacturing companies such as Elica, Broan-NuTone, Vent-A-Hood, Faber have further presented the possibility of a positive North America range hood market forecast

Meanwhile, APAC region is expected to offer lucrative opportunities to players vying to expand their footprints. The region is indicative of an expanding construction industry and end-users are increasingly inclined to add aesthetic value to their home, thereby boosting range hood market share. Not to mention, the continent is also indicative of a growing F&B sector and increasing restaurants and the like, further augmenting the demand for range hoods.

Author Name : Sunil Jha

Lawn and garden equipment market to amass huge profits from sports activities

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Rising number of residential and commercial construction projects and improving standard of living will enhance lawn & garden equipment market  growth. Lawn and garden equipment has found wide-ranging applications in parks, sports fields, etc. Also, lawn and garden equipment industry will witness growth due to  rising government initiatives in favor of green and sustainable environment.According to the latest research report published by Global Market Insights Inc., lawn & garden equipment industry share is likely to surpass 45 billion through 2025.

In 2018, lawn & garden equipment industry accumulated one-fourth of revenue share from application in golf courses, and the segment is likely to exhibit a similar growth pattern in the foreseeable future. The market derives substantial demand from multiple golf courses present worldwide. As per the National Golf Foundation, around 38,500 golf courses are present in the world. In addition, several attempts  made by  various countries towards the establishment of golfing facilities is likely to further inflate the demand for lawn & garden equipment. For example, in 2018, Turkmenistan had inaugurated Ashgabat Golf Club and listed itself among many golfing countries.

Industry players have been focusing on advancing technologies to improve cutting edge operations, which will stimulate lawn & garden equipment industry trends in the coming years. Major market participants are launching advanced products for building up their customer base. Also, they are trying to improve  their products with respect to key parameters such as battery efficiency and reduction of intermediate charging time.

For example, STIHL had rolled out a battery hedge trimmer in January 2017. The trimmer has a higher power-to-weight ratio, greater speed, and less operating cost. New product launches by companies with cutting edge technologies and better efficiency will spur lawn & garden equipment business growth. According to the lawn & garden equipment market forecast report, electric-powered equipment segment will grow with about 8% CAGR over 2019-2025.

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Among newly launched products, lawn & garden equipment with seating arrangements are gaining remarkable traction among end users.  Equipment with seat reduce fatigue of driver and improve  output. In 2018, Deere and Company had launched 100 Series lawn tractors to help customers with hassle-free and comfortable operation.

Lawn and garden equipment market forecast report projects that  Asia Pacific will emerge as a major contender in the business. The region is experiencing betterment in economic conditions that have accelerated urbanization and housing activities in the region. Also, scheduled upcoming sporting events, such as 2022 Winter Olympic Games in China and 2020 Olympics in Japan are likely to generate demand for lawn & garden equipment. Hosting stadiums need an aesthetic  appeal to attract more audiences for watching live games. Asia Pacific lawn and garden equipment industry size is likely to witness CAGR of more than 8% over 2019-2025.

Adoption of garden equipment is surging due to rising consumer spending and international trade agreements. Honda, Deere & Company, Husqvarna Group, MTD Holdings, Kubota, Robert Bosch GmbH, and TTI are the eminent players operating in the lawn & garden equipment industry. R&D investments, novel & advanced product launches, and product differentiations are some of the strategies incorporated by these industry participants to gain a competitive edge over the market.

Author Name : Anchal Solanki