HVAC and Construction
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.
Get a Sample Copy of this Report:@ https://www.gminsights.com/request-sample/detail/4410
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
Amplifying focus on quality and presentation of beverages in high-end bars will improve the growth of ice maker market share. Boutique bars demand for various ice making machines for gourmet, square, and large ice cubes. Increasing disposable incomes have gushed the advent of modern kitchens and homes with built-in bars. People are opting to prepare cocktails and expensive drinks in their own built-in bars, which will boost demand for ice makers in residential applications. Also, companies are rolling out advanced machines, which will enhance competition in ice maker industry.According to the latest research report published by Global Market Insights Inc., worldwide ice maker market share is likely to reach $2.5 billion by 2025.
Ice maker industry is gaining profits from commercial segments, such as food service and healthcare. Demand for ice makers is surging in hotels, restaurants, hospitals, bars, pharma companies, etc. Growing demand for ice makers is pushing major ice machine manufacturers to develop energy-efficient and restaurant-specific machines. Rapid development and adoption of ice machines will show a positive impact on ice maker market outlook.
Nugget ice maker industry is likely to exhibit robust growth due to the rising popularity of expensive drinks, and cocktails served in high-end bars, and restaurants, which has increased the usage of nugget ice maker globally. Nugget ice finds application in various cooling purposes, majorly in beverage displaying in shopping malls, bars, grocery stores, and departmental stores.
Ice maker market is witnessing innovations of new products owing to the escalating demand for ice of different shapes and sizes in food service sector. Manufacturers are outlaying heavy investments in R&D activities to cater to the spiraling demand from food processing, service, and transportation sectors.
Get a Sample Copy of this Report:@ https://www.gminsights.com/request-sample/detail/4419
Nugget ice makers have gained significant traction within the healthcare sector due to the easy consumption of nuggets by patients. The chewable property of nuggets has inflated its applications in healthcare centers, hospitals, etc. Also, organ storage and rehabilitation procedures in the healthcare sector need ice, which will help to enhance ice maker industry trends.
Middle East ice maker market size is expanding with development of regional infrastructures, such as restaurant chains, supermarkets, and hypermarkets. There is a huge demand for fast food and beverages in the region, which has amplified ice maker industry share. According to the International Trade Council, in Dubai, around 20 new community shopping malls are under construction and are likely to be operational by 2020.
Also, the UAE will host World Expo 2020 and Qatar will hold FIFA World Cup 2022, which will upsurge travel and tourism in the region. Organization of such events in the Middle East will offer lucrative growth prospects to ice marker industry players.
Market participants are focusing on the use of natural refrigerants, including carbon or propane to decrease harmful impact on the environment. Also, they are aiming to develop advanced hydrocarbon-based machines. Some of the key players present in ice maker market are Cornelius, Inc., Howe Corporation, Ali Group S.p.A., Manitowoc Ice, Hoshizaki Corporation, Middleby Corporation, Brema Group S.p.A., North Star Ice Equipment Corporation, and AB Electrolux.
Author Name : Anchal Solanki
Increasing construction activities and rising environmental concerns to foster air duct market growth over 2019-2025
Air duct market is expected to exceed total market size of more than $5.5 billion by 2025. Growing awareness among the people about energy conservation and regulation of indoor temperatures in buildings is gradually making the deployment of more number of air ducts, having effective shapes, mandatory across the world. This trend is expected to propel the air duct market share over the forecast time span.
Additionally, with several nations across the globe increasingly turning towards implementation of green infrastructure to tackle growing environmental problems, this shift is expected to be one of the leading factors behind air duct market growth in the forthcoming years.
In fact, the ASEAN organization in collaboration with the Asian Development Bank (ADB) have unveiled a novel service through which approximately $1 billion would be invested in green infrastructure development. This is slated to provide a substantial boost the adoption of the product across various commercial spaces.
The office space application segment of the air duct market is expected to generate a revenue stream of more than $2 billion over the forecast timespan. This momentous growth is primarily being attributed to the growing investment activities across the service sectors, as with the improving educational facilities in several developing nations skilled workers are available at a comparatively lower cost.
Several conglomerates are investing as well as outsourcing their respective backend operations in these countries, which is further giving rise to office constructions. Air ducts are utilized in these premises to offer comfortable work environment to all the individuals working there. These factors are further likely to propel the air duct industry trends over the coming years.
In terms of material, galvanized steel ducts segment are slated to showcase a respectable rate of annual growth in the market; approximately about 3% from 2019 to 2025. Galvanized steel has special properties that allow the material to be easily converted into a varied array of shapes like rectangular, round and oval, a level of versatility that would further propel market demand in the future.
Products made out of galvanized steel material are highly durable as it does not corrode, tear or even puncture easily. This makes them ideal for environments that are incredibly taxing in nature.
Growing utilization of the galvanized ducts across various applications in the market as well as the additional benefits offered by it should further propel its demand, which would drive the air duct market share over the forecast time span.
Get a Sample Copy of this Report:@ https://www.gminsights.com/request-sample/detail/2339
The Europe Air Duct Market is anticipated to witness an exponential amount of growth during the projected timeframe. In fact, Europe is expected to hold more than 22% of the total air duct market volume share over the forecast time span. The projected growth in the region is being attributed to the high level of demand for numerous ventilation, centralized cooling and heating systems.
Moreover, the high standard of living of people in Europe is another prominent factor that would further drive the growth of the air duct market. This is particularly because thermal comfort is a major priority for the European population, as some of the countries in the Europe experience extreme cold weather throughout the year while some of them experience hot weather conditions or summers.
Thus, utilization of the product across various sectors in the European market like airports/rapid transit infrastructures, multiplexes/auditoriums, and hospitals among others is necessary to maintain habitable temperatures, further augmenting the air duct market outlook.
Some of the prominent industry players making significant contributions to the air duct market share are Set Duct Manufacturing, Hennemuth Metal Fabricators, D&N Duct, Zinger Sheet Metal Co., Sisneros Bros. Mfg., Hamlin Companies, Linx Industries, Inc., M&M Manufacturing, Tin Man Sheet Metal, Masterduct, Inc., Pinnacle, VK Ducting, Turnkey Duct, ZECO Aircon Ltd., and Ducts, Inc., among others.
Author Name : Bhushan Tambe
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.
Get a Sample Copy of this Report:@ https://www.gminsights.com/request-sample/detail/4285
- 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.
Get a Sample Copy of this Report:@ https://www.gminsights.com/request-sample/detail/4301
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.
Get a Sample Copy of this Report:@ https://www.gminsights.com/request-sample/detail/4199
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.
Get a Sample Copy of this Report:@ https://www.gminsights.com/request-sample/detail/4107
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.
Get a Sample Copy of this Report:@ https://www.gminsights.com/request-sample/detail/675
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.
Get a Sample Copy of this Report:@ https://www.gminsights.com/request-sample/detail/3734
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