HVAC and Construction

EPS-based structural insulation panels market to garner commendable returns by 2024, escalating demand for energy efficient buildings to augment the industry expansion

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The relentless pursuit for green and energy saving solutions has led structural insulation panels market to gain substantial acclaim in the recent years, specifically from the construction sector. With the rise in global population and increasing demand for accommodation, volumetric construction is becoming a major necessity. According to the United Nations, countries across the globe are facing a housing crisis that can culminate to the requirement of 440 million affordable urban households by 2025. However, with the future of the planet under the threat of drastic climate change, not only volumetric construction but the demand for ecofriendly construction has gained significant traction. In line with the Paris Agreement, the construction industry is now focusing on building ‘zero energy homes’, the chief concept that is expected to propel structural insulation panels market share.

North America Structural Insulation Panels Market, By End-Use, 2016 & 2024, (USD Million)
North America Structural Insulation Panels Market, By End-Use, 2016 & 2024, (USD Million)

The notion of zero energy homes is rooted in the fact that by building energy-efficient buildings, it is possible to considerably bring down the carbon emission levels in the atmosphere. In the U.S., buildings account for 39% of the total energy consumption. Considering that 45% of the energy consumed by homes is used in heating and cooling, a well-insulated building envelop is crucial to achieve a truly zero energy home, where no energy is wasted. Structural insulated panels offer less cracks and joints and make up very airtight homes with effective insulation between conditioned and unconditioned air spaces. Quite overtly, structural insulation panels industry is expected to witness a significant growth through the rise in demand for building green homes.

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Another factor that has made structural insulation panels an increasingly popular choice among the advocates of green buildings is the ecofriendly characteristic of their components that mainly comprise oriented strand board (OSB) and expanded polystyrene (EPS). Since OSB is made of inexpensive wood species grown in managed forests and EPS is a lightweight insulation material made of air and only 2% plastic, these core materials have been massively used for SIP production. EPS in fact, uses pentane that is a non-CFC blowing agent and the energy it saves will offset the costs of the petroleum that was spent in manufacturing. Driven by lowered CO2 emissions and reduced energy consumption, EPS-based SIP market size is anticipated to register a CAGR of 6.5% over 2017-2024.

The deployment of SIPs has apparently proved beneficial not only for saving energy and reducing waste but also for saving up extensively on construction costs, thereby stimulating structural insulation panels industry outlook. In a study conducted by BASF, it was demonstrated that residential builders can reduce their farming labor requirements by 55% with the use of structural insulated panels. The prefabricated nature of structural insulation panels eliminates on-site construction and they only require to be hoisted into place with the help of a crane, making SIP house installation 25% faster than benchmark houses. Prefabrication also resulted in jobsite debris disposal reduction by 93%. The study categorically depicts that the ongoing requirement of optimizing construction costs would act as a major driving force for structural insulation panels market.

In light of the environmental safety and cost effectiveness offered by structural insulation panels, it is rather justified that organizations such as the EPA are supporting their increased deployment. Backed by governmental initiatives such as tax incentives, structural insulation panels market trends are certain to undergo a positive transformation in the years ahead. The high R-value and low air leakage are making structural insulation panels more preferable than traditional framed construction. Aided by stringent regulations regarding environmental conservation, structural insulation panels market size is anticipated to register a CAGR of 6.5% over 2017-2024.

Author Name : Paroma Bhattacharya

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AWP rental market to perceive hefty receipts via innovative product launches over 2017-2024, North America to emerge as the most remunerative growth avenue for industry progression

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United Rentals, Inc’s recent acquisition of Neff Corporation has sent out waves of anticipation across the rapidly expanding AWP rental market. The latest deal is reported to have been concluded at a striking USD 1.3 billion and was primarily funded via freshly issued unsecured debt. Apparently, this take over is in line with the US based company’s expansion strategy which aims to enhance its earthmoving capabilities in the crucial growth terrains of the global AWP rental industry.

France AWP Rental Market, By Product, 2016 & 2024 (USD Million)
France AWP Rental Market, By Product, 2016 & 2024 (USD Million)

Meanwhile, it has to be noted that acquiring minor and upcoming firms has emerged as one of the chief business augmentation strategies that is being adopted by prominent players in the AWP rental market lately. This change can be attributed to the rising tendency of renowned access platform makers to offer a wide range of services and equipment by leveraging the technologies developed by new entrants in the AWP rental industry. Boasting of a massive application base comprising transportation & logistics, construction, government, and telecommunication, evolving a consumer-centric approach has been the focal point of AWP rental market participants.

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How innovative products have been providing a renewed boost to the overall AWP rental industry

Owing to the massive increase in residential and commercial construction projects across the globe, major AWP rental market players have been focusing on launching advanced access platforms. Moreover, the enormous rise in infrastructural investments in the public sector has compelled industry participants to manufacture value-added and customized products. Enlisted below are a few instances of the launch of ground breaking products in AWP rental industry:

  • The leading UK-headquartered aerial based platforms manufacturer, Snorkel has recently showcased its unique A46JRT boom lift at the International Construction and Utility Equipment Exposition show in the US. Apparently, the latest boom lift comes with a special package of features which are specifically designed for the utility sector. Furthermore, the new boom lift is equipped with a 2kW AC generator, a Kubota V1505 diesel engine, Snorkel Guard secondary guarding system, a 5 feet aluminum platform with a swing gate, and two grounding loops.
  • Regarded as a global leader in AWP rental industry, GMG Inc. has been reported to roll out numerous high-grade boom and scissor lifts this year. The first among them would be the 1330-ED micro scissor lift that would weigh only 1,892 pounds but is said to offer the spaciousness of a slide-out extension deck, all-electric drive, and a strong platform capacity of 530 pounds. Needless to say, the soon-to-be-launched micro scissor lift appears to have been manufactured with the objective of aligning with the evolving requirements of the construction sector.

With extensive maintenance and repair activities revamping existing transformers & power cables, street lights, fire stations, and other associated infrastructure, North America is projected to heavily influence growth prospects of AWP rental industry. Speaking of which, the firms offering rental equipment in this region have been mandated by regulatory authorities to strictly adhere to human safety concerns. This has, in consequence, fueled the AWP rental market share expansion across the nations in the North American region.

Concurrently, various emerging economies world over have been allocating massive budgetary proceeds to construct mega-infrastructure projects including visionary smart cities, magnificent airports, and other industrial complexes. Subsequently, the successful execution of these gigantic projects rests upon numerous business verticals, of which AWP rental market is undoubtedly among the most crucial ones.

Moreover, the increasing number of fatal injuries across hazardous business domains has compelled government authorities to mandate utilization of these equipment, which would further boost the growth potential of AWP rental industry in the ensuing years. In fact, as per a research report by Global Market Insights, Inc., AWP rental market is forecast to exceed an impressive valuation of USD 24 billion by 2024.

Author Name : Saif Ali Bepari

APAC concrete admixture market to witness phenomenal gains over 2017-2024, massive infrastructure investments to drive the regional trends

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One of the most remunerative and opportunistic business spheres of today’s urbanized ecosphere, concrete admixture market is aptly defined by the changing trends of the construction industry. Admixtures have been an integral component of construction activities since ages, on grounds of its credibility to enhance durability and strength characteristics of the concrete mixtures. It is therefore no surprise that the growth of concrete admixture industry is synonymous to the robust development in the construction domain. Bearing an evidence to this correlation- in the year 2015, the overall construction spending was nearly around USD 7 trillion, while research forecasts the spending to exceed a valuation of USD 13 trillion by 2023.

U.S. Concrete Admixture Market Size, By Application, 2013 – 2024 (USD Billion)
U.S. Concrete Admixture Market Size, By Application, 2013 – 2024 (USD Billion)

A wide array of macroeconomic determinants that are closely hinged to construction domain, quite obviously, leaves a perpetual imprint on the business space. Say for instance, the demographic structure of Gulf countries has had an immense impact on construction sector, which by extension has soared up the regional concrete admixture market demand. Sources claim, the GCC belt has been one of those few regions that observed tremendous economic turnaround of sorts post the financial crisis in 2008, recording a GDP growth of approximately 24% over 2008-2013. As per an estimation put forth by Centre for Economics and Business Research, in that half a decade timeframe the population in the region had risen by almost 20%. Experts’ claim, the proportion is almost six times than that of the population growth rate in U.S., and UK. In response to the thriving population growth, there has been an extensive proliferation in the construction activities across this belt over these years, leaving the growth prospect high for concrete admixture industry.

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APAC at the vanguard of concrete admixture market:

Having procured almost 40% of the overall industry share in 2016, APAC undoubtedly is one of the lucrative avenues via which concrete admixture market players have gained tremendous monetary returns. The dominance of the regional business space can be majorly attributed to growing governmental investments in major construction projects across commercial as well as residential domains. Below mentioned are some of the extensive construction projects, which would validate why APAC stands as the most potential contender in concrete admixture market share battle:

  • Delhi Mumbai Industrial Corridor: This is the planned industrial development project between two of the largest metro cities of India. Claimed to be one of the largest projects having a valuation of USD 90 billion, it is reported to encompass 24 industrial zones. Reportedly, the project has received a major boost from India and Japan, and in all plausibility would complete by 2019 end.
  • Beijing Daxing International Airport: Once onboard by 2019, it is claimed to be world’s largest airport. With eight runways under its umbrella, the airport reportedly would serve nearly 80 million passengers annually. Not to mention, such a massive construction project undoubtedly speaks volume and has much to contribute in the regional concrete admixture industry share.

While the revenue graph of concrete admixture industry has been deemed to be rather exponential, the marketplace is also characterized by several constraints. One of the most pivotal factors that has been proving detrimental for the business expansion is limited product compatibility across unorganized construction domain. Add to it, dearth of proper trained labor is claimed to be a viable restraint in the market proliferation.  Despite these potential challenges, concrete admixture industry is likely to experience a plethora of possibilities on a global scale, given the dire need of water conservation across the globe. In terms of profitability potential, the global concrete admixture industry share is forecast to surpass USD 38 billion by 2024.

Author Name : Satarupa De

HVAC centrifugal compressors market to register sizable gains from chillers over 2017-2024, high-tech product development to characterize the industry landscape

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The escalating demand for heat pumps and chillers is one of the pivotal factors driving HVAC centrifugal compressors market. In accordance with the shifting trends toward energy efficiency, regional governments are mandating stringent regulatory norms that are likely to impact this business sphere. In order to comply with regulatory mandates, most of the giants in HVAC centrifugal compressors industry have been working to develop precise and high-quality designs. In consequence, a wide range of products that can consume less energy, use new refrigerants, and communicate more effectively may soon mark their debut in HVAC centrifugal compressors market.

Global HVAC Heat Pump Centrifugal Compressors Market, By Application, 2013-2024, (Thousand Units)
Global HVAC Heat Pump Centrifugal Compressors Market, By Application, 2013-2024, (Thousand Units)

In recent years, centrifugal chillers have come to be massively adopted across myriad application sectors, owing to their low maintenance, sustainable oil-free operation, efficiency, and low noise generation capability. In this regard, HVAC centrifugal compressors market players have been making heavy investments in launching new heat exchanger and compressor technologies. Moreover, with the help of an optimized design, many HVAC manufacturers have even successfully improved the efficiency of chillers. This has increased their demand across numerous application domains, stimulating the commercialization of HAC centrifugal compressors industry. In 2016 alone, chillers accounted for 60% of HVAC centrifugal compressors market share.

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An instance depicting the efforts put in by companies with regards to novel product development is that Of Daikin launching a new range of products in 2017. The well-known manufacturer of air conditioning systems had successfully introduced next-generation air cooled crew chillers. Its main objective behind the development of such a high quality and efficient product was to curb carbon footprints and minimize energy costs. Moreover, for achieving higher performance, reliability, and efficiencies, the company is looking forward to introducing even more sophisticated design solutions.

The emergence of new high-tech technologies such as augmented reality and IoT have considerably influenced HVAC centrifugal compressors market outlook. The implementation of IoT based facilities in refrigeration equipment has provided the credibility of remote monitoring and ease of control to users. IoT has also added benefits of easy maintenance and serviceability. Say for example, the smart connected chillers developed by Johnson Controls is one of the recent IoT based invention that has been stirring a storm in HVAC centrifugal compressors industry.

The growing awareness among the governments about the replacement of outdated refrigeration systems will also lead to a spike in product demand. For instance, recently, Department of Defense of U.S. has awarded USD 24 million to U.S. Air Force to install a new refrigeration system in the President’s official plane. The demand primarily comes on the heels of the rising need to minimize energy waste that occurs due to outdated products.

In order to extend their reach in the regional market, pivotal players in HVAC centrifugal compressors market are implementing tried-and-tested and novel growth strategies. Governmental bodies have also been offering their support, with financial backing and numerous other initiatives. With a stringent regulatory framework in place with regards to energy efficiency, HVAC centrifugal compressors market size is likely to soar to great heights in the ensuing years.

Author Name : Sunil Hebbalkar

Crane market to be extensively driven by product innovations and developments, oil and gas sector to witness heavy product demand

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Raimondi Cranes’ latest launch of luffing jib crane is symptomatic of the relentless efforts undertaken by crane market giants to be placed at a higher notch over their contemporaries. Given the dynamically charged intense share battle in the competitive landscape, companies have been feverishly focusing on expanding their product portfolio to stronghold their business position, as depicted from Raimondi’s new flagship crane. Dubbed as LR330, this new luffing jib crane, is claimed to be equipped with an equilateral triangular jib of a maximum length of 60 meter and weight carrying capacity of 18000 kg. Sources have also categorically stated that the Raimondi’s new luffing crane range has been specifically designed to reduce the impact of wind on the jib, thereby ensuring efficient transportation. Furthermore, the equiangular triangular jib design would also enhance numerous other operational aspects of the machine as well, cite sources. While Raimondi already holds a strong position in global crane market with a history of one and half century, the launch of LR330 would undoubtedly prove to be a milestone in its journey. Some of the other pronounced players whose contributions have been significant in proliferating crane market trends include Hitachi Sumitomo Heavy Industries Construction Crane Co, Terex Corporation, Manitowoc, Konecranes PLC, Liebherr Group, and Palfinger AG.

Europe crane market, by application, 2016 & 2024 (USD Million)
Europe crane market, by application, 2016 & 2024 (USD Million)

Konecranes PLC, for instance, one of the most renowned Finland based crane market giants, has recently made to the headline with its proposed RENTALL concept. If reports are to be relied, the company now offers premium lower capacity overhead cranes of utmost 10 tonnes for rent, providing an alternative to buying a crane. As claimed by the company officials, the new business line is all inclusive of an absolutely free service package, where Konecranes itself provides all the maintenance cost of the rented crane without any further investment from the customers. With this absolutely innovative program designed to offer maximum flexibility to the customers, Konecranes PLC seems to be on the path of empowering its stance in the overall crane market share. The RENTALL concept, reportedly, has been already rolling out at some parts of Canada and U.S., post the successful launch of the program in some of the Nordic countries like Singapore, U.K., and Australia.

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The oil & gas sector is unquestionably a lucrative application arena for crane industry. Tower cranes are extensively deployed in offshore as well as onshore oil rig sites pertaining to applications such as drill pipe lifting, casting, maintenance equipment lifting from ships and the like. The ascent in demand can be credited to the product’s exclusive feature of operating even in severe weather conditions, in addition ensuring easy moving of heavy materials across the oil platforms.  As per a recent market assessment report, oil & gas applications in the year 2016, procured almost one-fifth of the global crane industry share and is anticipated to depict similar trends over the forthcoming seven years. Driven by the fact that this particular category of cranes is largely installed in wind energy park, Europe has emerged to be one of the strong grounds for the business space. In fact, statistics depict, Europe covered almost 33% of global crane market share in 2016, augmented by the region’s hefty investment in renewable energy projects in tandem with regulatory landscape supporting the same.

Speaking of its commercialization potential at a global scale, crane market size is forecast to exceed a valuation of USD 20 billion by 2024. Despite the appreciable growth prospect, high capital investment and maintenance cost associated with the equipment are perhaps two of the major challenges that crane industry players are presently dealing with. On the other hand, tremendous development in constructional activities across emerging nations is further scaling up the demand for high-end crane system.  In the face of these two-contradictory situations, companies have been readily investing in automation of equipment, in a bid to comply with the international quality standards. With profound technological interventions in product design ensuring accurate signal collection, rapid speed calculation, and high degree of safety, crane market is expected to witness a substantial momentum over the coming years.

Author Name : Satarupa De

Rapid strength concrete market to garner a mammoth valuation of USD 450 billion by 2024, increasing infrastructure developments to fuel product demand

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Trumboo Industries’ yesteryear launch of a new variant in rapid strength concrete market is a major instance depicting the impact of the construction sector on this business space. In order to consolidate its position in the expanding rapid strength concrete industry, the Indian cement manufacturing company launched a new product that possesses the capability to gain more strength in a short time span quickly, leading to major time saving. Indeed, having recognized the massive growth in the construction sector, other players such as BASF and Bostik have also been continuously involved in innovative product developments, which will also have a favorable influence on rapid strength concrete market trends. Not to mention, the growing investments by regional governments in infrastructure development such as railways, roads, and buildings have also been fueling product demand on large scale, further expanding the scope of rapid strength concrete industry.

U.S. Rapid Strength Concrete Market Size, By Application, 2013 – 2024 (USD Billion)
U.S. Rapid Strength Concrete Market Size, By Application, 2013 – 2024 (USD Billion)

Currently, many governmental bodies have been focusing on the improvement of internal mobility facilities, on the grounds of which they have been launching new projects for constructing freeways and highways. The California Department of Transportation in 2015, for example, launched one of the largest slab replacement projects in North America that required precast concrete pavement slabs for rapid highway constructions. Thus, the increasing number of state road construction projects across North America will push the regional rapid strength concrete industry share. As per estimates, North America rapid strength concrete market size has been projected to register a CAGR of more than 5% over 2017-2024.

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The deployment of rapid strength concrete, incidentally has helped numerous construction companies reduce their capital expenditure. For instance, one the UK based highway management company, Kier Highways, merely a year ago, successfully saved around GBP 35 million from the government allotted budget in a single project with the use of rapid strength concrete. Using the material for highway repair enabled Kier to prevent lane closure, since the concrete possessed the ability to dry faster, enabling the construction crew to complete the work much more quickly than it would have taken otherwise.

Speaking of yet another similar incidence, US-based Boxley Materials Inc. used BASF’s patented concrete system to invent a high compressive strength concrete that possesses very less setting time, in order to the minimize time required for lane closure. The increasing awareness among construction companies regarding the productive benefits of this concrete type will indeed boost rapid strength concrete market share. Not to mention, the increasing investments in technology innovations to accomplish local building demands and promote sustainable construction will further propel rapid strength concrete industry outlook positively.

At present, sustainability is becoming more and more important in the designing and construction of transportation infrastructure. Notable players in rapid strength concrete industry have been continuously working on R&D programs to minimize the impact of concrete on the environment with the development of next-generation sustainable cement. Additionally, with the soaring annual prices of construction material, cement manufacturers have also been adopting several business strategies to strengthen their business position by manufacturing affordable construction materials. Indeed, the shifting trends toward development of low cost, eco-friendly, and high-performance cement are certain to extensively impact the revenue graph of rapid strength concrete market, which is slated to remain exponential over the years ahead.

Author Name :Sunil Hebbalkar

Luxury plumbing fixtures market valuation to surpass the 25-billion-dollar mark by 2024, driven by extensive consumer demand for an aesthetic & sensational indulgence in bathrooms & kitchens

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The growing preference for smart homes coupled with the rising affluence among consumers has been majorly stimulating luxury plumbing fixtures market. Given that state-of-the-art plumbing fixtures in bathrooms and kitchens can add a different kind of class to the whole house by highlighting the smallest details that had often been overlooked in the past, the popularity of these fixtures is not exactly surprising. Luxury plumbing fixtures market is fast emerging to become a niche industry that is incorporating artistic sensitivity with practical design to cater to a growing populace of consumers who are looking to upgrade their homes or business spaces not only by concentrating on decorating the halls, bedrooms or reception, areas but also the bathrooms and kitchens.

U.S. Luxury Plumbing Fixtures Market Size, By Fixture, 2016 & 2024 (USD Million)
U.S. Luxury Plumbing Fixtures Market Size, By Fixture, 2016 & 2024 (USD Million)

Socio economic influences have changed the way bathrooms and kitchens are viewed around the world. The popularity of spas for instance, has inspired consumers to expect more from bathroom designs. There has been a growing trend to treat the bathroom as a luxurious personal space for complete relaxation, thereby providing major stimulus to luxury plumbing fixtures industry. Oriental cultures since recent times, have been following the trends set by Hollywood and the like, that specifically highlight luxury bathrooms from the western culture. Bathrooms thus, are moving away from being the conventional bathing/ablution space to a space that provides intimate relaxation. In this regard, it is prudent to mention that bathtubs are witnessing fastest growth in the luxury plumbing fixtures market with luxury and designer showers becoming equally popular.

One of the luxury plumbing fixtures industry giants, Kohler, recently designed the Real Rain shower, which is basically a 19-inch square panel encompassing nozzles with variable sizes unlike traditional showers where all nozzles are of the same size. In the Real Rain shower, water droplets of random sizes hit the user at random times, thus aptly imitating the effect of real rain and fulfilling consumer demand for a novel experience while taking a simple shower. Luxury plumbing fixtures market is also expected to be propelled by the demands of deluxe toilets with heated seats and voice controlled operations. Heated floors and towel racks are also becoming a part of the fast-evolving fixture landscape of luxury plumbing fixtures market. Driven by a plethora of such product developments and their rapidly increasing sales, in 2016, luxury plumbing fixtures industry size was pegged at USD 15 billion, with lucrative growth projections set for the period 2017-2024.

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Kitchens, which have become a central showpiece in modern homes have accounted for 15% of the shares generated by luxury plumbing fixtures market in 2016. The kitchen sink and faucet, being among the most used fixtures in the kitchen, have demanded major attention from luxury plumbing fixtures industry leaders like ROHL, that has recently redefined the design of kitchen faucets as the water appliance. Aesthetically appealing faucets with adjustable water volume are very much in demand in modern homes, on the grounds of which key players in the luxury plumbing fixtures market are concentrating to bring more and more innovative sink and faucet designs to the 21st century homes.

North America has been projected to be one of the leading consumers for luxury plumbing fixtures industry. Driven by extensive spending on construction, North American luxury plumbing fixtures market is estimated to exceed USD 7 billion by 2024. While demand for jacuzzies and whirlpools are increasing across the region, water conservation is topping the list of environmental protection organizations which is encouraging the luxury plumbing fixtures industry players to design and promote the adoption of water efficient products. APAC is also one of the most lucrative regions stimulating luxury plumbing fixtures market, having held 25% of the overall share in 2016. Subject to increasing consumer disposable incomes in India and China, in tandem with the fact that most luxury plumbing fixtures manufacturing hubs are located in these regions, APAC luxury plumbing fixtures industry will witness massive expansion over 2017-2024.

The globally rising demand for aesthetically impressive as well as water efficient and environmentally sustainable plumbing fixtures have indeed acted as a major driving force for this market. Fueled by the extensive requirement for fixtures in luxurious modern homes, luxury plumbing fixtures industry is likely to attain major gains over 2017-2024.

Author Name : Paroma Bhattacharya