Aluminum
Growing number of offshore wind projects to fuel submarine power cable market size
With continuous developments in the offshore oil and gas sector along with groundbreaking subsea cable technologies, submarine power cable market is poised to witness a remarkable growth over the coming years. Today, several power suppliers and governments are shifting their preferences toward renewable energy sources like offshore wind power and even oil & gas companies are adopting new procedures to improve efficiency, reduce costs, and exploit new fields. Growing number of renewable energy projects and escalating penetration across other submarine applications will offer considerable boost to submarine power cable industry outlook.
Submarine Power Cable Market Size, By Voltage, 2019 & 2025 (USD Million)
Expanding number of offshore wind farms and electrification of offshore oil and gas platforms has led to augmented research activities and tremendous progress has been made in quality of power cables. With the advent of subsea cables, it becomes extremely easy to connect oil platforms to mainland power grids. It also enables timely monitoring and surveillance to reinforce the business development and management of almost all activities in the ocean. Booming energy sector worldwide will immensely propel the revenue graph of submarine power cable industry from the demand of advanced and more reliable subsea cables.
A submarine power cable had been deployed recently between Montenegro and Italy under an investment of EUR 1.15 billion that will allow Montenegro to develop as an energy hub for the Balkan countries. The project has already fetched more than EUR 600 million for local businesses in Montenegro. Such developments would create abundant opportunities for oil & gas companies and other suppliers, attracting significant investments in the energy sector, for renewable sources and digitization. The surge in installation of submarine electrical cables to supply power and emergence of more advanced techniques will thrust global submarine power cable market share.
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Over the past decade, novel technologies are being utilized to perform better maintenance and repair of underwater cables for reducing the overall cost of operations in the offshore energy segment. Oil companies are extensively using high-speed fiber networks to vastly enhance their remote field operations, improve field safety records and to take full advantage of real-time information. Operators are rapidly gaining installation expertise in ultra-deep waters and are aiming to advance the array of energy and telecom cables for offshore production. Increasing adoption of such products will considerably influence submarine power cable industry outlook.
LS Cable & System, a Korea-based industrial corporation and cable manufacturer, has inked an agreement in July 2019 worth $100 million worth with Orsted, a state energy firm from Denmark, to build a submarine power grid in Taiwan. The Taiwanese government is planning to invest nearly $23 billion to increase the volume of renewable energy generated in the country, from existing 5% to 20% by 2025. Growing number of submarine power grid projects will substantially impact submarine power cable industry trends.
In terms of geographical trends, European and North American electricity providers are shifting preferences towards integrating more offshore renewable energy sources such as wind and tidal wave installations. Submarine cables will allow the utility companies to transfer larger power flows over great distances with reduced rate of power loss. Deployment of subsea cables to strengthen conventional energy grids could also enhance the connection rate between nearby European offshore wind projects and the U.K. mainland electricity grid network.
The EuroAsia submarine High Voltage Direct Current (HVDC) cable is one of the largest submarine power cable lines in the world which connects the Greek, Cypriot, and Israeli power grids with 2000 MW power capacity. These kind of project will open up substantial prospects for submarine power cable suppliers in the ensuing years. Prominent reports inform that in 2018, Europe submarine power cable market had generated a revenue of more than USD 2.5 billion.
Owing to widespread implementation of pioneering energy transfer technologies, there would be promising growth prospects for offshore wind farms over the forecast period and subsequent need for power transmission. Eminent players offering reliable subsea cable products include Sumitomo Electric, LS Cable & Systems, Nexans, KEI Industries, Prysmian, Furukawa, TF Kable, Ningbo Orient wires, Sumitomo Electric, ABB, Intertek Group, and Hengtong Marine Cable Systems. Global Market Insights, Inc. has projected that global submarine power cable market size will surpass USD 3 billion in annual valuation by 2025.
Author Name : Deeksha Pant
Global metal foam market to be fueled by an upsurge in automobile production and construction activities
The global metal foam market size is poised to increase commendably over the coming years owing to increasing investments in infrastructural development along with uses across applications like automotive, aerospace, healthcare, energy, and more. These materials provide superior benefits as opposed to other materials, thereby offering promising growth prospects to key manufacturers operating in this industry. The extensive use of metal foam in building structures and wall coverings due to its fire-resistant properties and superior thermal insulation will boost its demand in construction and infrastructural applications.
U.S. Metal Foam Market Size, By End-Use Sector, 2014 – 2025 (USD Million)
Development in construction activities, particularly in emerging markets, is a major driver for increasing metal foam industry share across the world. Increase in per capita income and enhanced living standards across developing economies will proliferate the demand for commercial and residential structures across developing nations. According to the Ministry of Statistics and Programme Implementation (MoSPI), India’s per-capita income is anticipated to have surged by 10% to INR10,534 a month during financial year ended March 2019. Growth in personal income will result in a higher demand for housing, thereby augmenting the metal foam industry size in the forecast years.
As emerging economies continue to grow, infrastructure development has emerged as a pivotal factor for the expansion of transportation, production, and communication industry. India’s budget for 2019 intends to amplify the country’s connectivity infrastructure by creating a network of highway grids. Moreover, the nation has also planned to invest INR50 lakh crore for developing its railway infrastructure. Infrastructural development across emerging economies will favor metal foam market outlook.
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The metallic foams are used in the automotive sector to increase sound damping, boost energy absorption, and reduce overall vehicle weight. Hence, burgeoning automotive production will also lead to an increase in demand for metal foam products. Data by the Federal Reserve claims that industrial production surged by 0.4% in May 2019 due to an increase in passenger cars and pickup trucks production. Such developments in the automotive industry also signify a positive sign for global metal foam industry.
Increasing adoption of electric vehicles is anticipated to be a lucrative opportunity for metal foam manufacturers across the world. In order to enhance vehicle performance, lightweight auto parts are crucial in electric vehicles. SmartBatt project by the European Commission is aiming to create battery packs by using a core of aluminum hybrid foam. Successful implementation of such innovations could further spur metal foam demand in the automotive sector.
Moreover, technological advancements in metal foam products will also aid industry growth over the ensuing years. For instance, Saarland University scientists recently developed a range of lightweight and strong metallic foams capable of impact protection and shock wave absorption. These metal foams can be customized for a wide range of applications, which makes them a prominent contributor for global metal foam market share in the near future.
In terms of geographical trends, Asia Pacific is likely to observe considerable growth owing to increase in automotive construction activities across China and South Korea. Moreover, Asia Pacific is also witnessing a massive need for housing and infrastructural projects, which will further proliferate product demand in the region’s construction sector.
Europe is also likely to emerge as a strong regional contender owing to development in its automotive industry. Due to increasing concerns surrounding vehicular emissions, adoption of electric cars is picking pace, which is bound to create huge impetus for the region’s EV industry, thereby augmenting Europe metal foam market outlook over the coming years.
Other end-user applications for the metal foam market include healthcare and aviation sector. For example, NASA is exploring the possibilities of noise reduction in aircraft using metallic foams. On account of such possibilities, metal foams are poised to witness steady growth in the subsequent years. According to a research report by Global Market Insights, Inc., metal foam market is estimated to be worth more than $100 million by 2025.
Author Name : Krithika Krishnan
Metallic pigments market to garner significant returns from the automotive sector, rising demand for a flawless metallic finish to add a new growth dimension to the industry landscape
U.S. Metallic Pigments Market Size, By Product, 2017 & 2024, (Kilo Tons)
It is rather overt that metallic pigments industry is certain to accrue mass traction from the automotive sector. As per estimates, global passenger car sales amounted to approximately more than 78 million vehicles in 2017. In terms of production and sales, China and the United Sates are touted to be the leaders in the global automotive market as is evident from the estimate that U.S. customers purchased around 6.9 million passenger cars in 2016 and produced approximately 4 million cars the same year. With major regional automotive markets such as the U.S. and China expanding by the day, the demand for metallic pigments to be used in automobile production and finish is only expected to soar. Furthermore, with established auto manufacturers quickly increasing investments in luxury and customized cars, metallic pigments industry is predicted to procure hefty proceeds from the automotive sector.
It is to prudent to note however, that metallic pigments are relatively high maintenance but have better resale value while being less susceptible to small damages that can cause more value depreciation. On these grounds, metallic pigments market size has been projected to gain quite some traction through increased automotive sales.
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The automotive industry has often been a trend setter when it has come to colors and finishes. Rising number of surveys indicate that consumer demand for gold, silver and bronze finish is now on a rise. A marked rise in demand has been noted for silver pigments which is increasingly being used as a coating color for teletronics such as TV sets, stereos, computers and laptops. According to a global color popularity survey conducted by DuPont, silver was found to be the most popular color for vehicles in North America, Europe and Asia. Whether silver is just a trend or has become a part of the basic color palette is still a debated question but from the demand of silver metallic pigments experts have opined that silver has obtained itself the position of being the conservative color of the millennium.
Many paint companies are capitalizing on rising consumer interest and have been adding metallic finishes in their collections. For instance, the UK based company ICI offers a Dulux Discovery range which comprises shades such as eastern gold, copper pot and brushed steel. According to a report published by the company the metallics have exceeded Dulux’s predictions by almost 200%, clearly indicating the future growth prospects for the metallic pigments industry.
With the phenomenal growth of the metallic pigments market, pigment suppliers have been shaping new technologies to suit the industry needs for coatings and paint formulators. Such products, which can create mirror and chrome like finishes are rapidly gaining momentum in the industry. Parameters like increased competition and demand for enhanced performance are also urging metallic pigments market players to increase investment in research and development programs.
Prominent pigment manufacturers are striving to bring about innovation in their product range by committing towards value addition in the basic metallic pigment properties instead of producing just a one-dimensional metallic pigment. Aided by the efforts of eminent product developers and the expansion across end-use sectors such as automotive and construction, metallic pigments market is predicted to register commendable growth over 2018-2024.
Author Name : Paroma Bhattacharya
APAC automotive brake caliper market to amass hefty proceeds by 2024, increasing production of automobiles to drive the regional industry growth
Powered by the rapidly expanding automotive industry across myriad geographies, automotive brake caliper market has indeed gained tremendous popularity in recent times. The automotive sector is also rife with a plethora of highly unique innovations that have undeniably had an impact on this business sphere. Indeed, given the pivotal significance of braking systems, technological advancements form the crux of automotive brake caliper industry. Recently for example, Brembo unveiled an aesthetically revolutionary brake caliper at the 2018 NY Auto Show. Apparently, this product helped achieve substantial weight savings – around 400 g per wheel. Brembo’s product launch is indicative of the fact that automotive brake caliper market will continue to be characterized by highly innovative solutions that would optimize performance and improve aesthetics.
U.S. Automotive Brake Caliper Market, By Vehicle, 2016 & 2024, (Million Units)
The automotive industry has registered an extremely appreciable CAGR in the Asia Pacific region since the last decade or so. This growth can be essentially credited to the rise of the middle-class populace with increasing disposable incomes and a growing inclination toward leading a more comfortable lifestyle. Due to the presence of affordable and efficient production facilities and increased rate of automobile production, Asia Pacific automotive brake caliper market is poised to grow by 3% over 2017-2024. China, India, Japan, and South Korea are projected to be the major contributors toward this regional market, powered by the enhanced automotive manufacturing technologies now prevalent across these economies.
Speaking along similar lines, the increasing demand for automobiles among the middle-class consumers has led to a significant requirement of passenger carrying vehicles. For instance, in 2017 alone, 73.46 million units of PCVs were sold – a marked increase of 1.08 million units. Driven by the increased consumer spending and the subsequent rise in vehicle production, automotive brake caliper market size from PCVs is expected to increase by 3% over 2017-2024.
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While PCVs take the cake in terms of popularity, it is prudent to mention that two-wheelers are also being increasingly preferred lately, especially in the emerging economies. Two wheelers offer a means of cost effective transportation and are the preferred choice not only in congested cities but also in remote locations. This would perpetually augment automotive brake caliper industry outlook in the ensuing years.
Stringent safety and environmental policies have encouraged technological advancements in the automotive brake caliper market of late. For instance, the French auto manufacturer Bugatti has brought forth a unique innovation in automotive brake caliper industry with the use of 3D printing to print titanium brake calipers. Incidentally, 3D printing of brake calipers helps in reducing the overall weight of the vehicle while maintaining torsional stiffness – a highly sought-after parameter in the automotive industry today. Traditional aluminum alloy brake calipers on Bugatti vehicles weigh 4.9 kg each, however, 3D printing of brake calipers makes each caliper weigh just 2.9 kg, which goes a long way in reducing overall vehicle weight and meeting environmental regulations.
Though 3D printing of brake calipers has not yet become a mainstream procedure owing to the time-consuming nature of the process, the concept has gained sufficient traction. Other methodologies for the reduction of caliper mass, improved styling and performance maintenance are also being researched currently to reduce particulates and carbon emission in the atmosphere.
The emergence of electric vehicles and hybrids is expected to add a new vertical to automotive brake caliper industry, as these vehicles will invariably use a whole new braking system that has little resemblance with the conventional braking system. With the introduction of the Tesla Model 3, electric passenger cars are poised to become the dominant trend for the future. It is rather overt that such cars are being designed to have only one paddle for moving or stopping the vehicle. While the brake system will not be made entirely obsolete, it is certain to undergo some highly innovative changes, that would certainly have an influence on automotive brake caliper market outlook.
Research & development programs are rampant across the automotive industry of late and are likely to majorly transform automotive brake caliper market trends. With the robust growth of automated technologies and the increasing requirement for better mobility, automakers are leaving no stone unturned to bring forth newer and enhanced brake systems. In consequence, this would have a commendable impact on automotive brake caliper market size, anticipated to cross $25 billion by 2024.
Author Name : Paroma Bhattacharya
Aviation sector to boost thermal spray coating market over 2017-2024, stringent regulatory framework to encourage innovative product development
In recent times, it has been observed that most of the leading players in thermal spray coating market have been constantly striving to transform the business vertical by means of bringing forth a plethora of innovative spraying systems. These firms have also been looking forward to developing sustainable spraying solutions considering the adverse effect of conventional coatings material on the environment. In this regard, in 2008, the EPA deployed new air pollution regulation rules, which have been applied for the existing thermal spraying processes that emit Hazardous Air Pollutants (HAP). Prominent HAP elements comprise manganese, lead, chromium, cadmium, and nickel. The EPA has also framed the National Emission Standards for Hazardous Air Pollutants (NESHAP) to implement regulatory compliances over the use of HPA emitting spraying process. In order to comply with such regulatory norms, many shipbuilding and refurbishment companies are continuously adopting sustainable and eco-friendly coating technologies, which would have a massive impact on thermal spray coating industry trends over the years ahead.
U.S. Thermal Spray Coating Market, By End-Use Industry, 2013-2024, (USD Million)
It is rather overt that myriad thermal spray coating market giants have been investing considerably in facility expansions in order to capture more business space. For instance, a joint venture of a leading player in thermal spray coating market, Praxair Surface Technologies and GE Aviation, PG Technology has recently decided to expand its coating facility plant based in Singapore considering the growing requirement of the product across the enormously intensifying aerospace sector. At this new facility plant, the company plans to double the electron beam physical vapor deposition coating capacity and install other important aviation-related coating processes. The facility is likely to become operational by 2019. PG Technologies’ move has been projected to increase the competitiveness across Singapore thermal spray coating market. Indeed, this investment in the capacity expansion will also help other Singapore based small scale companies to enhance their capabilities.
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Jet engine manufacturers and companies in aviation sectors are looking forward to implementing next-generation coating technologies in order to enhance the capability of jet engines to withstand high stress and temperatures, which would propel thermal spray coating market outlook. Moreover, the versatility of thermal spraying technology, owing to which it can be used for any type of material including plastic, metal, and ceramic, is one the major benefits that can be credited for its rising preference. In order to maintain the cost-effectiveness and quality of coatings, leading aerospace companies have been signing long-term partnership agreements with pivotal participants in thermal spray coating industry. For instance, a year before, Praxair Surface Technologies, one of the notable thermal spray coating market firms, signed a 10-year contract with the well-known aero engine manufacturer, Rolls Royce. Praxair Surface Technologies’ humongous expertise in coating operations will help Rolls Royce improve its engine efficiency and lifecycle. Thus, pertaining to the surging requirement of spray coatings in the aviation sector, in 2016, aerospace and defense held a revenue of USD 2.5 billion in thermal spray coating industry share.
With the increasing adoption rate of thermal spray coating technologies, several contributors in thermal spray coating market are focusing on the development of innovative and advanced coating technologies incorporated with the benefits of less energy consumption, lesser downtime, improved productivity, high quality products, extended shelf life of products, and lower operating costs. Indeed, in the ensuing years, the growing demand for next-generation engines and high-quality components is slated to generate lucrative opportunities for giants in thermal spray coating industry, that would eventually impact the revenue generation of this business space.
Author Name : Sunil Hebbalkar
Fluorspar market to regain its position with an estimated valuation of USD 4 billion by 2024, significant investments in fluorspar mine capacity expansion to stimulate the competitive landscape
Global fluorspar market has been one of the most debatable business spaces of recent times with regards to its extensive utilization in hydrofluoric acid and fluorocarbons production. This is perhaps due to the fact that fluorspar mining has been open to question many a time by international regulatory bodies on grounds of its environmental concerns during blasting process. Nonetheless, subject to the materials’ extensive application across a plethora of lucrative domains, such as aluminum and steel production, fluorspar industry has gained an appreciable popularity over the years. Bearing a testimony to the declaration is the past year valuation of the business space which depicts global fluorspar industry share to have garnered a revenue of USD 2 billion in 2016. Fluorspar mining, for the records, began in the year `1920, and since then the mineral has been recognized as one of the most versatile materials that can widely deployed for a variety of ceramic, metallurgical, and chemical process.
U.S. Fluorspar Market Size, by Application, 2013 – 2024 (USD Million)
In this regard, it is imperative to mention that fluorspar industry has been witnessing a flux since a while now. Falling price trends of fluorochemicals along with soft demand for fluorspar are threatening new entrants in the competitive landscape, while some of the low-cost suppliers are striving hard to beat the market odds. Amidst this dynamically charged share battle, fluorspar mining activities across the globe had been a little backfooted for quite a prolonged period. However, technological advancements in the manufacturing processes in tandem with changing faces of end-use sectors has somewhat upscaled the mineral demand. This is evident from the significant attempts taken by the fluorspar market giants to expand the capacity of existing fluorspar mines.
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Unveiling two of the recent projects in global fluorspar marketplace:
- Afghanistan’s sole fluorspar deposit, the Bakhud deposit, has made it to the headlines with the announcement of its decision of tripling the capacity within next six months, in bid to improve the volatile fluorspar market condition. For the records, the mining giant is set to expand the fluorspar capacity by 122,500 tonnes per year once fully operational. Established in the year 2010, the company currently has a production capacity of 60,000 tpy with a production volume of 3,000 to 5,000 tonnes per month. In effect of this project, the Bakhud deposit would be producing 500 tonnes/ day, with a total capacity of almost 182,500 tpy.
- South Africa is also gearing up and as per experts’ opinion, would prove to be a strong contender in the global business space over the ensuing years. South Africa is claimed to have world’s largest fluorspar reserves, and Europe holds a major chunk of the regional export market with regards to production of aluminum fluoride and hydrogen fluoride beneficiation. Reportedly, the country is presently creating a whole hog on the new fluorspar mine by Nokeng Fluorspar Mine Ltd, the fully owned subsidiary of Sep Located at the north east of Pretoria, this R 1.7 billion mine project by the fluorspar market giant is reported to be the largest of its kind when compared to other investments around the world. Following the past success of Nokeng Fluorspar Mine’s breakthrough project at Gauteng province, the company now aims to vertically integrate in the supply value chain of fluorspar industry.
Detrimental environmental impact of chlorofluorocarbons, which is one of the most frequently used cooling fluids in air conditioners and refrigerators, is deemed to be a major hindrance to fluorspar market expansion. CFCs pose a great threat to atmospheric ozone layer by speeding up the breakdown process, which ultimately allow maximum of the UV rays to hit the earth’s surface. Prolonged exposure to ultraviolet rays is very harmful for human health and sometimes even claimed to be the root cause for cancer and mutation. This has led to banning of CFC across major nations, leaving a parallel impact on the regional fluorspar market size. Nonetheless, fluorspar is a valuable commodity and its contribution in the production of aluminum and steel is unrivaled. Since steel and aluminum are closely linked to a variety of remunerative business verticals, automotive sector in particular, expansive growth in these domains would overtly enable fluorspar market to revamp its position in the global landscape. In terms of commercialization, fluorspar industry is slated to exceed a valuation of USD 4 billion by 2024.
Author Name : Satarupa De
Additive manufacturing with metal powders market to chronicle its name in the billion-dollar business space, high demand for titanium alloys to drive the industry growth
Additive manufacturing with metal powders market has observed an appreciable expansion in recent years, essentially pertaining to the fact that the technique helps to build convoluted components that were earlier considered difficult to construct. Today, additive manufacturing has moved beyond the conventional prototyping technology, which has indeed acted as a major driving force for additive manufacturing with metal powders industry growth. Not to mention, the deployment of this technology has led to effective production of components that are now massively demanded across the aerospace, automotive, and medical sectors.
U.S. Additive Manufacturing with Metal Powders Market Size, By Application, 2016 & 2024, (USD Million)
A succinct gist of the material expanse of additive manufacturing with metal powders market
The material spectrum of additive manufacturing with metal powders market is rather extensive and encompasses quite a substantial number of metals and alloys. With robust rise in the number of procedures for additive manufacturing, more and more constituent metals are being involved in the manufacturing process, thereby expanding the material landscape of additive manufacturing with metal powders industry. The most common metal powders used for additive manufacturing are aluminum, stainless steel, cobalt, nickel and titanium alloys. Titanium among these is known to register an exorbitant demand, driven by its formability, light weight, superior strength and corrosion resistance. In fact, estimates claim that titanium alloy based additive manufacturing with metal powders market size will grow at a phenomenal CAGR of 29% over 2017-2024, subject to the material’s extensive deployment in the aerospace industry.
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Stainless steel has been touted as another product that is slated to witness potential growth in the additive manufacturing with metal powders market. This growth can be primarily credited to the material’s ferritic microstructure that makes it corrosion resistant and delivers superior mechanical properties to stainless steel, deeming it prefect for automobile parts, kitchen equipment and industrial appliances. Fueled by its massive application spectrum, stainless steel based additive manufacturing with metal powders industry size is projected to register a valuation of around USD 240 million by 2024.
Though additive manufacturing started out as an effective means for modelling and prototyping, additive manufacturing with metal powders industry has now experienced commendable expansion, subsequently leading to the application of the technique in a plethora of sectors. Industrial domains such as medical, dental, aerospace, automotive, jewelry, furniture, and architecture have been experiencing a touch of 3D printing techniques, while companies partaking in additive manufacturing with metal powders industry have been vying with one another to innovate varied products.
The automotive sector is a prominent end-use domain witnessing the deployment of additive manufacturing. As the demand for lightweight parts has been increasing due to the rising need to curb carbon emissions, auto parts manufactured through 3D printing are being preferred over conventionally manufactured parts. In response, additive manufacturing with metal powders market will witness a CAGR of 25% from automotive applications, over 2017-2024.
One of the chief advantages of additive manufacturing is that it is produced directly from a CAD model, owing to which it is extremely flexible and subsequently finds major applications in highly individualized processes such as dental restorations. Not to mention, the technique’s versatility has led to its deployment in numerous other medical applications. It comes as no surprise therefore, that additive manufacturing with metal powders industry size from medical application is projected to reach USD 200 million by 2024, given that the process would help speed up production time without inflating the costs.
Additive manufacturing is potent enough to be considered as one of the disruptive technologies that can change the entire landscape for design and manufacturing. From artists and designers to huge enterprises, the adoption of additive manufacturing is indeed witnessing a major ascent. In consequence, additive manufacturing with metal powders industry outlook has been observing a positive change of sorts. As the future of components is set to focus on the design for function rather than design for manufacturing, additive manufacturing with metal powders market size is undeniably slated to witness phenomenal growth between 2017 and 2024, with a target estimation of 4.5 kilo tons by 2024, in terms of volume.
Author Name : Paroma Bhattacharya
uPVC Indian doors market to gain remarkable proceeds over 2017-2024, Maharashtra to drive the regional landscape
The profitability quotient of Indian doors market is certain to escalate in the coming years, augmented by the thriving construction sector across the country. Driven by a plethora of factors such as growing Indian population demanding comfortable lifestyles, increasing public and private spending on refurbishment & construction activities, and encouraging governmental initiations toward infrastructural development, Indian doors industry size is expected to widen its horizon in the forthcoming years. In fact, estimates claim, private equity sector investment in real estate in India was over USD 6 billion in 2016. As per a recent report put forth by IBEF (India Brand Equity Foundation), Indian real estate market is slated to record a massive valuation of USD 180 billion by 2020, another testament deemed to stimulate Indian doors industry trends in the coming years.
Maharashtra Doors Market Size, By Product, 2016 & 2024 (Thousand Units)
Over the past few years, there has been a significant transformation in consumers’ buying preferences with regards to artistic and aesthetics quotient, a factor that has brought innumerable innovations in door quality and texture. In this regard, it is prudent to mention that uPVC doors are creating a storm in the Indian doors industry, subject to their unique advantages such as better insulation, energy efficiency, thermal insulation, diversified color options, and minimum maintenance requirement. In fact, uPVC Indian doors market is expected to witness a y-o-y growth of 8% over 2017-2024. In addition to this, leading giants of Indian doors market are also investing in enhancing their product portfolio that not only claims technological incorporations but also are environmentally viable.
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KONE is considered as one of the forerunners in bringing eco-friendly to the Indian doors industry. The company offers a full range of industrial doors, loading bays, barriers, shutters for commercial and residential housing complexes. Reliable operation, durability, safety, and most importantly environmental competencies are some of the fortes that make KONE a renowned player in the Indian doors market. Some of the other renowned players in this space include Fenesta Building Systems, DORMA, Century, D. S. India, Duroplast Extrusions, Geeta Aluminum Company, Beautex, Kalco Alu-systems, Mahavir Aluminum, Sapa Building System, Reynaers Aluminum and Welltech Systems.
Speaking of geographical aspects, West Bengal, Delhi, and Maharashtra are some of the states where the industry observes quite profound growth. In fact, estimates claim that Maharashtra alone accounted for 12% of the overall Indian doors market share, having held a revenue of USD 180 million in the year 2016. Strong pipeline of construction projects across residential, commercial, as well as industrial sectors has propelled the product demand in Maharashtra. A crucial determinant that needs to be mentioned here- the state is the second most populous region of the country, a factor that has enabled it to be strong contributor toward the overall Indian doors industry share. Another statistic that can be placed as a testament regarding the increasing refurbishment and maintenance activities in Maharashtra- as per the National population and housing survey of 2011, out of 3.36 crore registered houses in India, 2.98 crore were in Maharashtra. Taking into account these aforementioned aspects, Maharashtra is expected to continue to stand as a strong contender in the Indian doors market.
With the escalating construction space along and supportive government initiations toward manufacturing eco-friendly, fire resistant, weather proof doors for commercial and residential sectors, it is certain that Indian doors industry is all set to carve a lucrative path in the years ahead. Experts believes that in the coming period, the business space will witness an influx of even more sustainable energy efficient doors. Having held a valuation of USD 1.2 billion in 2016, Global Market Insights Inc., forecasts Indian doors market size to exceed USD 2,800 million by 2024.
Author Name : Satarupa De
APAC automotive air intake manifold market to accrue heavy gains over 2017-2024, driven by the rising automobile production
Hydrogen Engine Center’s recent launched intake manifold technology has marked a quantum leap in automotive air intake manifold market. This new design will apparently overcome the air & fuel imbalance in all the V8 engines, leading to reduced power and operational inefficiency. In addition, the technology is designed to improve the overall power output between 4% to 8% on almost all the internal combustion engines and can work on any type of combustion engine with four or more number of cylinders. The fact that this design will halt the backfiring of V8 engines with the usage of hydrogen as a fuel would certainly impel automotive air intake manifold market in the years to come.
U.S. Automotive Air Intake Manifold Market Size, By Vehicle, 2013 – 2024 (USD Million)
Recently, Ford India unleashed the 1.5-liter Ti-VCT, a three-cylinder petrol engine, that would open new growth avenues in India automotive air intake manifold industry. The manufacturing unit of the firm based in Sanand, Gujarat will manufacture this innovative petrol engine that will fulfill the demands of both the regional and global automobile sector, as it offers enhanced fuel efficiency and helps reduce the carbon emissions in the environment.
Key automobile manufacturers have been striving to expand their production base lately, given the intense competition and product demand. Holley Performance Products Incorporation, for instance, has established a manufacturing unit at Franklin in the U.S, which is likely to augment the vehicle production and increase the number of jobs across the automotive sector. The numerous developments underlining the automotive domain and automotive aftermarket have led experts to predict that automotive air intake manifold market will indeed experience lucrative growth prospects over 2017-2024.
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The substantial rise in the demand for vehicles across Indonesia, China, and India has led to an improvement in the vehicle production capacity, which would certainly augment APAC automotive air intake manifold industry. Furthermore, APAC has been predicted to contribute over 45% toward global automotive air intake manifold market revenue by 2024, driven by the ever-expanding automotive sector in the region.
Germany on the other hand, houses some of largest automobile manufacturing firms such as Volkswagen, Audi, Mercedes Benz, and BMW, which would considerably stimulate Germany automotive air intake manifold market. In addition, escalating demand for passenger cars across the region, resulting in an increase in the vehicle production will further augment the regional growth.
Reputed players such as MAHLE Gmbh, Aisin Seiki Company Limited, Keihin Corporation, Röchling Group, Mikuni Corporation, and Sogefi S.p.A partaking in automotive air intake manifold industry share have been focusing on expanding their consumer base and brand visibility across myriad geographies. Citing an instance, in the second quarter of 2017, Rochling Group commissioned its first automobile manufacturing plant in Mexico.
Favorable trade policies and the prevalence of effective product distribution channels have also considerably augmented this business space. Manufacturers have lately been adopting just-in-time strategies that has resulted in high product penetration across the automotive sector, thereby stimulating automotive air intake manifold industry. As per Global Market Insights, Inc., automotive air intake manifold market will cross a targeted revenue margin of USD 51 billion by 2024.
Author Name : Dhananjay Punekar
Global Market Insights Inc. 