Stationary Catalytic Systems Market to exhibit a CAGR of more than 6% over 2016-2024, rising global warming threats to push the industry growth
U.S. Stationary Catalytic Systems Market Size, by Application 2013-2024 (USD Million)
Escalating requirement of oxidation catalysts for annihilating VOC, formaldehyde, and carbon emissions from gas turbine power generators will spur the industry expansion over the coming timeframe. Growing urge for power supply, rapid industrialization, and the exponential rise in population are also factors that are projected to boost the market trends in the near future.
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Stationary Catalytic Systems find wide applications in Manufacturing, Cement, Metals, Power Plants, Petrochemicals & Chemicals, Refining, and Food sectors. Stationary Catalytic Systems Market share in Petrochemicals & Chemicals sector is slated to hit USD 700 million by 2024, due to high demand for petrochemical products across the globe. High infrastructural expansion across emerging economies is forecast to propel the business landscape over the next few years.
Metal applications are anticipated to record a CAGR of 5% over 2016-2024, driven by proliferating demand for steel across construction and automobile sectors. Stationary Catalytic Systems industry size in power plants, estimated at USD 1 billion in 2015, will grow considerably over the coming timeframe. The evolving need of power supply across the residential, commercial, and industrial sectors will accelerate the industry expansion.
Based on the technology, stationary catalytic systems market is mainly divided into catalytic oxidation and selective catalytic reduction. Catalytic oxidation technology covered 36% of the global industry revenue in 2015 and will register substantial growth rate over the coming seven years, owing to its increasing requirement for rubber & polymer manufacturing, organic chemical production, and resin production. The selective catalytic reduction technology segment will exhibit a CAGR of more than 5% over the coming years of 2016 to 2024, prominently driven by its increasing demand to reduce NOx content.
Below are the geographical aspects of stationary catalytic systems market:
- India stationary catalytic systems market was worth more than USD 300 million in 2015 and is predicted to generate noticeable revenue over the period of 2016 to 2024. The growth can be attributed to the increasing investment in the infrastructural development projects.
- China stationary catalytic systems industry accounted for more than 30% of the regional market share in 2015 and will exhibit considerable annual growth rate of more than 4% over the coming years of 2016 to 2024, owing to the growing installation of coal power plants across this region.
- Germany stationary catalytic systems market covered more than 25% of the regional industry contribution in 2015 and is anticipated to surpass a revenue collection of USD 320 million by 2024.
- Peru stationary catalytic systems industry will generate a revenue of over USD 40 million by 2024. More than 60% of the mineral commodity is exported from Peru across the globe. This factor, coupled with the escalating mining activities across this region, will propel stationary catalytic systems market.
Key players in stationary catalytic systems market are DCL International Inc., Johnson Matthey, CORMETECH, Ducon Technologies, Babcock & Wilcox Enterprises, Amec Foster Wheeler, BASF, Hamon Corporation, APC technologies, and Air Clean LLC.
Author Name :Sunil Hebbalkar
Wireless charging market to be defined by a fierce competitive landscape, consumer electronics sector to lead the application terrain
One of first officially commercialized wireless charging device was the Oral-B rechargeable toothbrush. Since then, wireless charging market has been witnessing a plethora of developments with regards to battery recharge in electrical devices. Recently, the electronics giant Sony patented a unique technology that can harness power from a range of devices such as smartphones, laptops, TVs, washing machines, and refrigerators. Another notable development observed in wireless charging industry in 2016 was the launch of LG G6 and Galaxy S8, sporting wireless charging technology.
U.S. wireless charging market, by technology, 2016
Nowadays, the Qi technology is being commonly incorporated in wireless charging products. With the implementation of Qi technology and standards, in 2012, Google’s Nexus 4, Nokia’s Lumia 920 & 820, and many other smartphone models were launched with the inclusion of inductive charging, thereby depicting that a high degree of digitization has phenomenally impacted the commercialization matrix of global wireless charging market in recent years. Global Market Insights Inc., in fact, estimates wireless charging market size to be worth more than USD 14 billion by the end of 2024.
Pertaining to the surging adoption of consumer electronic devices such as smart phones, tablets, and mobiles, tech magnates have been focusing on the implementation of new technological features in their products to widen their consumer base. For instance, Apple’s iPhone series has been incorporated with wireless charging. As consumers seek the implementation of periodic upgrades in the preceding devices, consumer electronics manufacturers have been looking forward to investing heavily in research and development activities to innovate efficient technologies for wireless charging. In 2016, consumer electronics alone covered 55% of wireless charging industry share. The growth of this segment is inherently dependent on the support provided by various regional governments for intensive R&D programs.
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Apart from consumer electronics, healthcare sector is another domain that would impel wireless charging market share, owing to the miniaturization of products and the possibilities of performing operations without the use of batteries. In addition to this, the increasing deployment of this technology in vehicle-charging, defense, and industrial sectors, will also leave a subsequent impact on the wireless charging industry application landscape.
In a bid to reduce the utilization of unwanted cables, one of the globally renowned automotive market giants, BMW has recently launched a wireless charging pad for cars, which may allow passengers to charge their smartphones very effectively. Taking into account the future scope of wireless charging, BMW has also been evaluating and testing this technology further, which is likely to have a considerable impact on wireless charging market trends in the years ahead.
Strategic collaborations have been one of the major growth tactics underlining the competitive landscape of wireless charging industry. In this regard, one such major instance was the PowerSphyr-Gill agreement. The California-based wireless charging technology giant, PowerSphyr Inc. acquired Gill Electronics, in a bid to fetch the engineering and production capabilities of the latter in-house. Reportedly, the deal enabled PowerSphyr Inc. to serve a broad range of OEM customers spanning across healthcare, industrial, and automotive sectors.
The adoption of novel technologies by core companies has a crucial role to play in augmenting the growth graph of wireless charging market. In fact, major tech biggies have already incorporated wireless charging in their flagship phones, whilst the smartphone market hulk – Apple, is also soon expected to switch gears and implement this technology. Speaking of which, some of the prominent players in wireless charging industry include Texas Instruments, Inc., Device Technology, Inc., Mojo Mobility, Inc., WiTricity Corporation, Powercast Corporation, Energizer Holdings, Inc., Powermat Technologies Ltd., Qualcomm Inc., Leggett & Platt Inc., Convenient Power Ltd., PowerbyProxi Ltd., and Murata Manufacturing Co. Ltd. This business space is likely to witness several companies competing for standards, licensing agreements, and technological innovations in the forthcoming years, which validates that wireless charging market would indeed garner commendable returns over 2017-2024.
Author Name : Sunil Hebbalkar
U.S. to spur smart metering systems market, rising concerns regarding energy wastage to prominently drive the regional growth over 2016-2024
Rising need for accurately recording & billing the electricity, gas, and water consumption will push smart metering systems market size. Strict legislations for efficiently monitoring the usage of public utilities will encourage energy savings and curb power supply theft. This in turn, is expected to support the industry development over the years to come. The U.S. Energy Independence Act (EISA) of 2007 has made it mandatory for its residents to fit smart electric systems as well as electric grids in their households, in order to accurately record power consumption and reduce energy wastage. Such regulations will further propel smart metering systems market. As per Global Market Insights, Inc., “Smart metering systems industry revenue is projected to hit USD 38 billion by 2024.”
U.S. Smart Metering Systems Market size, By Product 2013-2024 (USD Million)
Smart metering systems will find wide applications across utility, residential, and commercial sectors. Smart metering systems industry revenue in the residential sector, worth USD 5 billion in 2015, is anticipated to grow noticeably over the coming seven years. Reasonable costs and high consumer awareness about the benefits of smart metering systems will drive the industry expansion. Commercial applications are expected to grow considerably over the coming years, driven by high product demand from firms to save costs and optimize energy consumption.
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Taking into consideration the regional trends, U.S. smart metering systems market value, estimated at USD 5 billion in 2015, is projected to observe a substantial surge. Strict government measures to reduce energy consumption and improve billing precision is expected to result in higher demand for smart systems across the region.
UK smart metering systems industry share is projected to register a CAGR of 16% over 2016-2024. Launching of schemes such as the National Smart Meter Roll Out program by the UK government for installing smart metering systems in every house in Wales, England, and Scotland will drive the regional revenue.
China smart metering systems market value is anticipated to cross USD 9 billion by 2024, driven by favorable government policies promoting the use of smart grid systems in each household. UAE smart metering systems market revenue is slated to increase at a rate of 9% over 2016-2024. Effective measures taken by the government to reduce harmful emissions and check illegal water consumption will promote the regional growth.
Smart metering systems industry size in Mexico is projected to grow strikingly over the years to come, driven by supportive government initiatives encouraging the use of smart meters in the region. Lebanon smart metering systems market is expected to grow at a CAGR of 9% over the period of 2016-2024, driven by rising government efforts to improve the current technology and offer perfect billing services to the end-users.
The dearth of natural resources along with growing government concerns over the excess wastage of water, gas, and electricity will favorably influence smart metering systems market trends over the forthcoming years. Industry players will try to raise their ROI and enlarge their geographical presence through large- scale R&D investments, new product launches, technological breakthroughs, and strategic alliances. Landis+ GYR Corporation, Elster Group SE, Sensus Incorporation, Neptune Technology Group, Schneider Electric SE, Honeywell International Incorporation, Badger Meter Incorporation, Siemens AG, Osaki Electric Company Limited, Iskraemeco, and Itron Incorporation are the key participants of smart metering systems market.
Author Name :Dhananjay Punekar
nonwoven disposables market to witness a dynamic transformation over 2017-2024 with the influx of highly sustainable and eco-friendly disposables
The Reutlinger Community’s Pixie Smart Pads are the latest innovation making inroads in medical nonwoven disposables market. A premier assisted living facility, The Reutlinger Community barely announced the launch of the FDA-registered Pixie Smart Pads for monitoring UTIs. The community recently held Pixie’s Early Access Program, during the course of which incontinent residents wore the pads several times a week, while the data from the pads was made available to medical professionals. Through this step, the facility aimed to improvise on their decision-making with regards to deploying standardized medical care models in order to upgrade antibiotic stewardship and reduce the hospitalization rate. Experts cite that Pixie Smart Pads are likely to disrupt the product landscape of medical nonwoven disposables market in the ensuing years. The move also affirms that the geriatric population prone to urinary incontinence will offer lucrative avenues for medical non-woven disposables industry over 2017-2024.
China Medical Nonwoven Disposables Market, By Product, 2013 – 2024 (USD Million)
Emerging economics, growing awareness towards incontinence, and introduction of premium quality surgical and medical disposals have resulted in widespread acceptance of non-woven disposal products. In addition to this, strict reforms especially circulated in government hospitals which encourage more use of nonwoven fabrics, is expected to stimulate medical nonwoven disposables market over the forecast span.
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Nonwoven disposables are being increasingly accepted into the healthcare fold, given the growing awareness towards incontinence and the necessity of premium quality surgical and medical disposals. In addition, the enforcement of strict reforms in government hospitals and other medical facilities encouraging the deployment of nonwoven fabrics, is expected to stimulate medical nonwoven disposables market share over 2017-2024. In fact, estimates claim medical nonwoven disposables industry size to register a CAGR of 7% over the forthcoming seven years.
Sustainability influencing medical nonwoven disposable market trends:
- As per estimates, 1,800 tons of disposable diapers are used on a daily basis in the U.S., which ultimately end up in landfills. In fact, approximately 20% of the total waste in landfills comprises discarded diapers, which are severely toxic for the environment, given that diaper materials are not biodegradable. In a bid to reduce environmental waste, Raleigh has come up with a green alternative that may help impel the growth graph of medical nonwoven disposables industry. This innovation apparently is a biodegradable material manufactured from corn starch, and is touted to generate disposable diapers that would be massively available and rather cost-effective. While the product may require some time to be officially commercialized, it has already been forecast to garner critical acclaim across medical nonwoven disposables market.
- Another low key but rather effective precedent that underlines the significance of sustainability in medical nonwoven disposables market is the Limpopo Eskom Science Expo held recently. The event witnessed two students from the Irene Christian College showcasing two machines – one that was designed to clean disposable diapers, and another that was programmed to dry them. The innovative product won an award at the Limpopo Eskom Science Expo, and in all likelihood, would encourage companies partaking in medical nonwoven disposables industry share to endorse, upgrade, and commercialize the product that would help the entire healthcare and medical devices fraternity.
Medical nonwoven disposals market players are rigorously investing in introducing new, safe, value added enhanced quality medical apparels. For instance, well known global brands such as Kimberly-Clark and SCA introduced Core-Lokt technology and TENA Identifi respectively that offers better comfort to the patients suffering from incontinence.
Technical advancements and growing consumer awareness have been pushing manufacturers toward preferring nonwoven disposables over woven fabrics, however, the very fact that disposables have a hazardous impact on the environment may restrain the growth of medical nonwoven disposables market share to some extent. Additionally, the abundance of product substitutes such as reusable medical products that are cost-effective and long-lasting have been further putting a damper on the expansion spectrum of medical nonwoven disposables industry.
The implementation of the AAMI (Advancement of medical instrumentation) for sterilization of medical tools and the inflow of sustainable disposables have emerged as two major factors that would help combat the restraints of medical nonwoven disposables market. As companies strive to develop a range of eco-friendly products to augment the revenue graph of this business space, analysts claim global medical nonwoven disposables industry size to cross a valuation of USD 12.5 billion by 2024.
Author Name : Saipriya Iyer
Mining equipment market poised to surpass USD 99 billion by 2024, Surface mining equipment to witness massive demand
Global Mining Equipment Market is witnessing many twists and turns since the past decade with the constant involvement of modern technology to enhance the quality of operation. Machine failure detectors, real-time monitoring, and open pit mining are the some of the hi-tech integrations fueling the smart mining solutions. The growing trend of using multifunction machinery instead of single function counter parts is also expected to positively influence the overall market expansion. As per a report by Global Market Insights, Inc., “Mining equipment market in 2015 generated a revenue of more than USD 69 billion, and is poised to grow lucratively at a CAGR of 4.7% over 2016-2024.”
China Mining Equipment Market size, by application, 2013-2024 (USD Billion)
Another vital factor which is pushing mining equipment industry worldwide is the surging need to extract mines from lower grade ores and to cope with the remote locations. The constant effort by the key market players to address these major issues for enhancing the productivity and overall efficiency has resulted in automation and product innovation.
Metal mining applications to bring lucrative business opportunities for the global industry
Mining equipment industry has observed significant growth in two application sectors-metal mining and coal mining. In 2015, metal mining equipment market surpassed a revenue of USD 29 billion and is anticipated to grow exponentially in the upcoming period with an annual growth rate of 5% over the timespan 2016-2024.The heightening global demand for precious metals especially gold, as it supports the financial, emotional, as well as cultural values of the consumers, is augmenting the industry in metal mining.
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Mining equipment industry from coal mining has also developed over the recent years, in the transition from manually extracting the coal on carts to economical open cut long wall mines. The massive progression can be credited to the rising electricity requirement to feed the growing population.
Surface mining and underground mining are two basic techniques adopted for extraction. Today, surface mining being more predominant, surface mining equipment market has evolved robustly. It had a revenue share of more than 35% of the total volume in 2015 and is slated to show heavy growth at a CAGR of 3.4% over 2016-2024. Rising trend of exploration of untapped resources specially across developing nations is expected to offer ample opportunities to the market over the years ahead.
Mining drills and breakers market will also benefit from the increase in demand for sub surface mining of metals, minerals, and coals with the incorporation of effective hi-tech solutions.
Asia Pacific, driven by China, to witness heavy gains over 2016-2024
Asia Pacific is one of the prominent regions propelling the overall market with a collected revenue of more than USD 40 billion in 2015. Increasing concerns toward worker’s safety, strong demand for energy efficient technologies, and environmental considerations are the key factors driving the China mining equipment industry over the 2016-2024.
Furthermore, the recent market trend of using lease-based equipment is also encouraging industries to use more of advanced machinery. For instance, barcode technology helps in tool tracking, therefore various manufacturers are now incorporating digital barcode in hand tools as well as power tools to favor effective monitoring.
Another niche region driving the market is U.S. Key players in this region are investing continuously on energy efficient techniques, to reduce pollution. U.S. mining equipment industry is set to cross over USD 11.5 billion by 2024, with a projected CAGR of 3.2% over the period 2016-2024.
Product diversification without increasing the overall cost is the prime focus of the industry participants. Prominent players of mining equipment market include Sandvik, Caterpillar, Atlas Copco, and Joy Global.
Author Name :Satarupa De
Escalating Vitamin E consumption to push Cresols Market growth, chemical intermediates to witness highest product demand
Escalating requirement of vitamin E as an animal feed additive due to high meat consumption will push Cresols Market value over the years to come. Booming animal feed additives sector, which is expected to cross the revenue of USD 22 billion by 2022, will further benefit the industry. As per Global Market Insights, Inc., “Cresols Industry size is anticipated to hit USD 474 million by 2024.” Besides, its extensive applications across dyes, plastics, cosmetics, pesticides, rubber, and pharmaceuticals will boost market trends over the forthcoming years. Elevated demand for the product in electrical & electronics and automotive applications will uplift industry revenue over the span of few years.
Synthetic vitamin E intake, estimated at over 100 kilo tons in 2015, is forecast to grow at a CAGR of 4% over the coming seven years, thereby propelling cresols market outlook. High popularity of nutraceuticals, driven by high consumer awareness pertaining to the benefits of nutritious diet intake will spur cresols market expansion over the coming timeframe.
U.S cresols market share, by application, 2015 – 2024 (USD Million)
Antioxidants, chemical intermediates, preservatives, and solvents are the key cresols applications. Cresols industry share in chemical intermediates is predicted to grow at a rate of 3.5% over 2016-2024, driven by its use as a chemical intermediate for producing vitamin-E. The thriving chemical sector will further contribute towards the industry expansion over the coming years. Solvents applications, worth USD 35 million in 2015, is forecast to witness a substantial surge, owing to enhanced product application in polymer sectors.
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Ortho-Cresols, Meta-Cresols, and Para-Cresols are the major cresols products. Meta-Cresols industry, which generated more than USD 160 million in 2015, is anticipated to observe an appreciable growth over the years ahead. High demand for vitamin-E, owing to growing acceptance of healthy food habits by consumers will promote the product demand. In addition to this, its growing application as a chemical intermediate for synthetic vitamin E will further boost the revenue.
Para-Cresols market is projected to register significant gains at 3% over the coming timeframe, driven by its enhanced use in transformer oil, pharmaceuticals, rubber, and cosmetics.
Taking into consideration the geographical trends, North America cresols industry revenue is projected to indicate a sharp growth over the coming timeline, having attained a targeted revenue margin of USD 45 million in 2015. Popular use of cresols as chemical intermediates in pharmaceuticals sector and high demand for preservatives across the food packaging sector will further stimulate the industry expansion. U.S is likely to drive the regional growth in terms of revenue.
Asia Pacific cresols market is expected to register a CAGR of 3.5% over 2016-2024, driven by drastically changing lifestyles and food habits of the consumers.
Market players will try to improve their ROI and extend their geographical presence through implementation of key business strategies such as product differentiation, mergers & acquisitions, and high R&D investments. Henan Hongye Technology Chemical Company Limited, Xiamen Hisunny Chemical Company Limited, Atul Limited, VDH Chemtech Private Limited, Lanxess Chemicals Company, Sasol Phenolics, Ardisons Oils & Electricals (P) Limited, Nanjing Datang Chemical Company Limited, SABIC, Rutgers Group, Mitsui Chemicals Incorporation, Asahi Kasei Corporation, and Dakota Gasification Company are the key participants of cresols industry.
Author Name :Dhananjay Punekar
Car sharing market to witness a massive CAGR of 34.8% over 2016-2024, China to emerge as a lucrative business ground
General Motors partnering with Uber in 2016, is an instance of industry giants collaborating to stimulate global car sharing market size. Shifting trends toward shared mobility coupled with heavy R&D investments by core companies across the globe is also likely to propel car sharing market value over the coming seven years. According to Global Market Insights, “Car sharing industry was worth USD 1.2 billion in 2015, and is anticipated to cross 16.5 USD billion by 2024, increasing at an annual growth rate of 34.8% over the period of 2016 to 2024.”
Germany Car Sharing Market Size, By Application, 2013-2024 (USD Million)
Rising adoption of smartphones and tablets helps consumers to book vehicles with the assistance of mobile based software in a very effective manner. This, in turn, will influence car sharing market share noticeably. Supportive initiatives from various worldwide organizations to promote mobility services is also predicted to drive car sharing industry size.
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The prominent applications of car sharing market are private and business. The private application segment will generate considerable revenue over the coming seven years. The attributing factor towards the industry growth is increasing demand for on-time availability and reliability. Business applications will also be another lucrative segment over the years to come, owing to the growing preference for transportation across the various corporate sectors.
The one way and round trip are the two main business models of car sharing industry. One way trip business model will record considerable growth rate over the period of 2016 to 2024, primarily driven by its increasing requirement, owing to the flexibility offered by the one-way trip to the customer. Round trip business model proves to be highly cost-effective for long journeys, as to-and-fro charges depend on the distance travelled. Driven by this factor as well as other economic benefits, this model has witnessed high adoption, which will fuel round trip business model market over 2016-2024.
China car sharing industry will exhibit lucrative annual growth rate of 40% over the coming seven years. The growth can be attributed to its surging requirement across the private and commercial application. The emergence of various automotive companies across this region will generate eye-catching revenue in car sharing market over the coming years of 2016 to 2024. In addition, many of the automotive giants and vendors are investing heavily in the Chinese industry, which will favorably influence the regional growth.
U.S. car sharing market contributed majorly toward North America car sharing industry in 2015 and is anticipated to record significant growth rate over the coming timeframe, owing to supportive initiatives from organizations such as the Department of Transportation.
Novel technological innovations and price reduction will be the growth tactics implemented by major market participants to achieve the top position in such a fragmented industry. The key participants operating in this market are Car2go, Autolib, Uber, DriveNow, Lyft, Hertz Corporation, Zipcar, RelayRides (Turo), Getaround, GoGet, WhipCar, Mobility Carsharing, and Zoomcar.
The increasing efforts taken by the various OEMs and car rental companies to expand their business space across the globe will also impact car sharing industry growth considerably over the coming seven years.
Author Name :Sunil Hebbalkar