The escalating growth of compressor oil market can be attributed to the high-performance lubrication benefits provided by the product. Its properties such as excellent oxidation performance, resistance to rust and corrosion, wear protection, foam control, and rapid water separation expands the product’s area of usage to manufacturing, power generation, automobile, mining etc., augmenting compressor oil market share.
U.S. Compressor Oil Market Revenue, By End-use (USD Million)
The revenue portfolio of compressor oil market is likely to gain traction owing to expansive product demand from mining applications in particular. The product finds usage in a number of portable compressors that are massively deployed for operations such as vertical drilling, soil nails, rock bolting, shotcreting, anchoring, grouting, and more, given the necessity for smooth compressor operations.
The rising efforts to enhance mining capacity will drive compressor oil market share. The National Mineral Development Corporation (NMDC) for example, last year, announced that it plans to increase the iron ore production capacity to 50 million tons by 2019-20, by forming a joint venture with Chhattisgarh Mineral Development Corporation (CMDC) named NCL. Compressor oil market will gain a fair advantage from mining sector via such operational tactics in the coming years.
In addition to mining, automotive sector is the world’s biggest consumer of lubricants. Apparently, automobile and truck engines consume close to 20 million tons per year, which is about half of total lubricant use. In 2018, approximately 95,706,293 motor vehicles were manufactured in the world and the figure is expected to grow substantially in the years ahead. As the production rate of automobile depicts a rise, compressor oil demand will also increase simultaneously, thereby propelling compressor oil market size.
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Regionally speaking, APAC holds the largest share in compressor oil market owing to the significant presence of various industry players and their efforts to expand their reach worldwide. Recently, independent lubricant manufacturer Fuchs Petrolhub made it to the headlines for opening a plant in the Wujiang district of Suzhou, China. The facility’s production portfolio is inclusive of numerous industrial and automotive oils, rolling oils, and metalworking fluids. The 80,000 m² plant has been constructed with an investment of around EUR 46 million with a capacity of 100,000 tons in phase 1. The rising efforts by industry contenders to enhance production capacity will augment China compressor oil market.
Another country that will consolidate its stance in APAC compressor oil industry is India, the growth of which is supported by the expansion plans of industry giants. In 2017, BASF India Ltd., a subsidiary of BASF SE, had apparently launched a new technical lab for lubricant and fuel solutions at its Innovation Campus Asia Pacific. The facility was developed with the intention to deliver modern lubricant formulations and high-performance fluids for industrial and automotive applications.
As more and more major companies invest huge amounts to improve their footprints, APAC compressor oil market size will rise significantly over the coming years. Regional expansions by the key players will also push the growth graph of global compressor oil market in the times to come.
The demand for compressor oil will increase due to the rising production of compression equipment. Recently, Atlas Copco made it to the headlines for launching a new high-efficiency oil-injected screw compressor. These next-generation compressors are particularly well suited for metal processing, power plants and mining applications. Innovations pertaining to screw compressors will also augment rotary screw compressor oil market size, slated to exceed $3.5 billion by 2025.
Compression equipment producing companies have been undertaking various other strategies to increase their customer base. For instance, the compression equipment manufacturing company Gardner Denver Holdings, Inc. has announced that it has signed a definitive agreement with Ingersoll-Rand plc to combine Ingersoll Rand’s industrial segment with the company. The merger will expand margins through increased efficiencies and allocate capital effectively, accelerating strategic priorities of both the companies. Such moves by leading companies will contribute to the growth of compression oil industry share.
Many oil giants reportedly follow collaborative strategies to expand their business and increase their footprints worldwide. For example, American multinational oil and gas giant ExxonMobil, owns around 37 oil refineries in almost 21 countries, and has recently announced that it has proceeded with an oil development plan in Bajo del Choique-La Invernada block of Argentina. The project is anticipated to produce around 55,000 oil-equivalent barrels a day within next 5 years. Such strategic moves by the oil majors are backing the growth graph of compressor oil market.
Governments worldwide have been planning to increase mining facilities to increase mining production, which will help enhance compressor oil market outlook substantially. With rising number of industry leaders undertaking strategic efforts to expand business reach and product demand increasing across myriad applications, compressor oil market share will increase majorly in the years to come.
Author Name : Anchal Solanki
Operator training simulator market to gain substantial proceeds from aerospace & defense sector over 2019-2025, surging product demand for tackling life-threatening situations to fuel the industry growth
The revenue graph of operator training simulator market is projected to foresee exponential growth owing to the continuous improvement in these products and rising emphasis on recruiting skilled workforce. Skill development helps to enhance productivity, safety, profitability, controllability, and stability of the enterprise operations. The increasing focus to reduce injuries and fatalities to maintain safe operations across various business verticals is expected to aid the market growth.
Brazil operator training simulator market, by application, 2018 & 2025 (USD Million)
Industry professionals are training their operators to tackle life-threatening situations which has led to increased emphasis on safety of workers, optimization and efficiency of simulators – a factor that is likely to impel the operator training simulator market share in the times to come.
Operator training simulators improve decision making of the operators at critical times while increasing familiarity with the operations. Pilots are required to develop skills like decisiveness, quick thinking, confidence and situational awareness which can be enhanced by simulator trainings. Operator training simulators strengthen confidence to tackle the unfavorable situations. To underscore the significance of simulators, the recent instance of fatal aircraft crash of Ethiopian Airlines can be considered. The crash killed all 157 on board just five months after a similar crash on a Lion Air flight which killed all 189 passengers and crew.
After the accident, the Allied Pilot Association has demanded training on simulators which includes scenarios like those experienced by the pilots of Ethiopian Airlines and Lion Air and additional computer training for 737 MAX to cement the lessons of failure modes in the minds of pilots. Apparently, the deployment of advanced simulators would be crucial in building confidence among pilots, essentially boosting the growth of operator training simulator market.
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Apart from aviation industry, the railway sector has also emerged as a major end-user to deploy operator training simulator for realistic and robust training to avoid fatalities. For instance, in the year 2018, Indian railways had announced to invest INR 350 crore in operator training simulators to train 1.5 lakh loco pilots and assistant loco pilots to bridge the gap between theoretical and practical learning. The investment is meant to make drivers learn how to navigate rail tracks, curves, signals, bridges and any other situation as if they are driving a real train.
Over 12,000 diesel and electric locomotives daily run on a 66,000-km network across the country. There are about 86,000 train drivers and the simulator training with real feel experiences will assist these drivers to run locomotives efficiently. Apparently, the Indian government’s program is a testimony to the increasing prominence of governmental support to high-end simulator training across various geographies – a vital factor that will enhance the growth prospects of the operator training simulator industry.
Notably, defense academies have also been proactive in adopting operator training simulators for public safety and enhancing the overall skill-set of cops. As the police department is responsible for the safety of citizens and maintenance of peace across any country, cops face highly stressful situations on a regular basis which requires high level of patience and panic control. In this regard, simulator training has proved to be of immense help and numerous police academies are deploying these simulators on their premises.
For instance, the New Britain Police Academy has recently adopted simulator trainings to train police to manage stressful responses and make decisions under pressure. The Milo Simulator – chosen by the academy – is an advanced simulator in the state which combines driving an emergency vehicle in highly unfavorable situations such as armed encounters. The human reaction under pressure is unpredictable but this training simulator can help police officers to calmly handle stressful situations.
Operator training simulators have found usage in aviation, railways, police trainings and have applications in several other industries, including healthcare, energy, and chemicals. Operator training simulators play a vital role in training operators in manufacturing and industrial plants. The simulators enhance familiarity with the operations by creating a visual and real-time experience to cement the learnings by experiencing high-risk situations.
Retiring experienced workforce and the increasing demand for quality training of young staff will also contribute in proliferating the operator training simulator industry trends. According to a research report by Global Market Insights, Inc., the operator training simulator market is expected to surpass a remuneration portfolio of USD 20 billion by 2025.
Author Name : Anchal Solanki
Heat meters market to amass considerable returns from residential applications by 2024, escalating number of initiatives by regional governments to propel the global product demand
The increasing deployment of heating and cooling systems across various commercial, industrial, and household buildings have been fueling heat meters market. The surging concerns among the policymakers and regional governments about energy efficiency has also been having a positive influence on the product demand pertaining to its capability to measure energy consumption within cooling and heating systems. In the cold climatic regions, governments are encouraging people to deploy district heating systems to maintain warmth in the winters. The growing importance of sustainability and energy efficiency across the globe will thus propel heat meters industry share.
Sweden Heat Meters Market Size, By Application, 2017 & 2024 (USD Million)
On the grounds of garnering heat and electricity savings, most of the countries have been installing heat meters in industrial, commercial, and residential buildings. The large-scale deployment of energy consumption measuring equipment has generated lucrative opportunities for the giants in heat meters market. In addition, many financial organizations also have been supporting regulators to install heat meters by providing favorable funding. For instance, in 2017, the Europe Bank for Reconstruction and Development (EBRD) has sanctioned USD 27 million loan to deploy heat meters across the residential sector. Over the last few years, EBRD has been supporting many nations which are looking forward to harnessing sustainability and energy efficiency.
Another region where heat meters market has been gaining traction is Kazakhstan, wherein the fluctuating climatic condition has been impelling the product requirement. Apparently, in the summer season, the heat in Kazakhstan can increase beyond 30 degree Celsius and in the freezing winter, the temperature reaches to -40 degree Celsius. Amidst these extreme climatic conditions, energy efficiency is playing a vital role in the region, leading to the deployment of heating and cooling systems. The deployment of heat meters to save electricity and heat will also help district cooling/heating system firms to control the system losses, optimize the energy supply, and reduce the energy wastage. In 2017, the Kazakhstan government fit heat meters in about 45% of households and was planning to cover more than 80% volume of household buildings within three years.
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In another instance, the Swiss government and the International Finance Corporation (IFC) have also lent support to Ukraine to create more energy efficient homes. In this regard, Ukraine’s State Agency for Energy Efficiency has designed a program dubbed as Warm Loans to improve the heating system of homes. In most of the apartments across Ukraine, district heating systems have already been deployed, but due to more heat loss, energy bills were perpetually high. Reportedly, households in Ukraine account for more than 50% of its overall natural gas production. The remarkably growing awareness among the Ukrainian people about the rising domestic heating bills is thus estimated to fuel heat meters market size.
The transforming technology trends across the globe have also had a significant influence on heat meters market share over the last few years. The development of smart meters is one of the next-generation product inventions that helps customers track daily energy use very easily. Considering the benefits of modern technologies to improve the energy efficiency, leading giants in the heat meters market have been adopting various new technology advancements such as IoT (Internet of Things) and AI (artificial intelligence). For instance, a team from the Danish smart metering company, Kamstrup, and Finnish electricity firm, Herrfors Nät-Verkko have recently planned to use NB-IoT technology in smart metering. With the help of this technology, the Finnish company can monitor more than 6,000 heat and electricity meters that will result in 10% cost savings.
The development of innovative and cost-effective solutions will favorably promote the heat meters industry trends over the years ahead. The supportive stand taken by the regional governments and energy-related organizations to encourage the installation of heat meters will further enhance the industry growth. In line with the increasing deployment of heating and cooling systems mainly across cold climatic regions, heat meters market will generate a revenue of more than USD 1 billion by the end of 2024.
Author Name :Sunil Hebbalkar
North America packaging equipment market to accumulate commendable returns by 2024, F&B applications to contribute toward the regional growth
The global packaging equipment market is projected to witness an accelerated growth rate over 2018-2024, primarily driven by the expanding F&B & pharma sectors. Having held a valuation of $38 billion in 2017, packaging equipment market thrives on the changing trends of the food industry that conceptualizes state-of-the-art packaging solutions depending on the shifting consumer preferences. The rising urbanization and improving living standards around the world with the rise in disposable incomes have conjointly led to a surge in the demand for ready-to-eat foods and subsequently, innovative packaging, thereby stimulating packaging equipment market growth.
UK packaging equipment market, by application, 2017 & 2024 (USD Million)
Unveiling North America packaging equipment market trends
According to a report about the food packaging trends by the Packaging Machinery Manufacturers Institute (PMMI) – a trade association that is made up of over 800 North American manufacturers and suppliers, food and beverage would account for more than 55% of the projected share by 2019. The association’s report also estimates that the food packaging market in the U.S. alone would be worth over $31 billion by 2022, thereby reiterating the significance of the food industry in North America. It is rather overt that in the years to come, food & beverage companies will continue to expand their product portfolios as they jostle with each other to capitalize upon the growing middle-class populace and its disposable income. The rising competition is certain to act as a catalyst, prompting food & beverage companies to begin constructing new plants, thereby augmenting the regional packaging equipment market trends.
As per estimates, in 2017, North America held more than 25% of the overall packaging equipment market share and is expected to grow at a robust pace in the years ahead. Being one of the technological nerve centers of the globe, packaging equipment manufacturers in North America have been working to incorporate advanced technologies in these devices so as to automate the components with intelligent features. Eventually, this would lead to lesser human intervention and enable a seamless integration of hardware and software, resulting in manufacturers developing highly accurate and efficient products. This in consequence, along with the rising economic growth of the region, are certain to augment the growth graph of North America packaging equipment market.
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Apart from the F&B applications, global packaging equipment market will be receiving a sizable boost from the pharmaceutical sector as well. The inherent need for pharmaceutical companies to thoroughly and properly package their manufactured medical products to maintain the correct chemical composition will drive the packaging equipment market growth from pharmaceutical applications. The industry has also gradually been influenced by customer feedbacks that often request certain aesthetic features to be added to the medicine’s packaging to help distinguish them from other drugs.
The growth of the pharmaceutical industry across APAC would prove to be one of the most viable driving forces for the regional packaging equipment market. The economies such as India, South Korea, China, and Japan have been increasingly shifting toward the adoption of smart solutions in manufacturing. Furthermore, the continent, as a whole, is driven by a strict regulatory landscape mandating pharma companies to adhere to certain rules, further augmenting the regional packaging equipment market.
The accelerated growth of food, pharma, and numerous other end-use sectors is thus certain to impel the commercialization landscape of the overall packaging equipment industry. While North America will continue to remain one of the most lucrative hubs as far as packaging machinery is concerned, emerging economies across the Asia Pacific are also racing ahead in packaging equipment market. Powered by a strong global manufacturing sector and the subsequent demand for packaging devices, the overall packaging equipment market size is slated to register a CAGR of 3% over 2018-2024.
Author Name :Akshay Kedari
Global testing, inspection and certification (TIC) Services market to witness robust growth from transportation sector, certifications in healthcare to provide additional boost
Growing emphasis on consumer satisfaction and safety has proliferated the testing, inspection, and certification (TIC) services market as governments worldwide have implemented stringent quality regulations on almost every industry vertical. Whether it is construction, automobile, energy, healthcare or other segments, continuous advancement in products and components have necessitated upgraded testing and certification requirements. Improvements in management, product quality, manufacturing processes, supply chains and service value have become imperative for the growth of any business, imposing a need for the TIC services market. Existence of recognized certifications such as ISO:9001 or ISO/TS 16949 make it easier for customers to search for companies that provide excellent product quality, better customer service and new, innovative solutions. The global TIC services market valuation in 2017 stood at over USD 150 billion, driven by the obligation of companies towards meeting specific product requirements and to comply with international quality standards.
U.S. Testing, Inspection, and Certification (TIC) Services Market Revenue, By Service, 2017
Besides helping to control the quality, effective testing and inspection processes aid in minimizing rejections, reduce manufacturing costs and identify reasons for a defective output. The transportation segment, in general, constitutes a major part of the global manufacturing industry where thousands of components or auto parts go through daily quality checks. As governments and international agencies are constantly raising the weight, material and other standards of automobile components to enhance the safety and efficiency of vehicles, the TIC services industry is subsequently gaining massive popularity. OEMs as well as small auto component vendors are striving to achieve high level of quality and get certified, to get documented and provide validity to their proficiencies and expertise. Frequent inspection and evaluation of manufacturing processes by in-house or third party services to maintain a grip on the quality level will continually boost the TIC services market.
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As per estimates, the EU alone produced over 17 million passenger cars and 2.6 million commercial vehicles in 2017. With strict regulations in place to enhance the fuel efficiency of future vehicles and reduce carbon emissions, the TIC services market will experience tremendous growth from testing and inspection of advanced auto components and manufacturing processes. New processes need to be sufficiently tested before implementation and vigorously inspected for any faults or defects to ensure product uniformity. Globally, an emerging product line in the automotive sector is connected and self-driving cars, which presents a challenging task for the TIC services industry. Chipmakers and testing companies are helping to develop these products by adhering to ideal temperature, voltage, electromagnetic interference and several other standards put down for an efficient autonomous system. Automotive standards like ISO 26262 have been introduced related to the safety of electrical and electronic systems within vehicles, warranting adequate testing and inspection to be done on advanced automotive chips.
The TIC services industry is rapidly witnessing demand from the healthcare and life sciences segment, with test and inspection reports of pharmaceutical equipment being critical in assessing whether the international standards are met. TIC companies are trying their best to evolve with technological developments and remain up-to-date with new regulations pertaining to safety and quality. Products, apparatus and supply chains are subject to quality testing activities regularly, as pharmaceutical companies are responsible for providing vital therapeutic solutions. Even other parties involved in the supply chain must go through intense inspection by assigned representatives to be eligible to acquire critical certifications. Citing an instance that signifies the importance of the TIC services market, Swiss WorldCargo recently received IATA’s Center for Independent Validators (CEIV) Pharma certification, which encompasses not only the airline but also the entire organization.
To elaborate, a CEIV Pharma certification indicates that the lifesaving pharmaceutical products are being handled in compliance with the best global standards of safety, security and efficiency by the certified party. With this certification, Swiss WorldCargo has attained a milestone which only a small number of airlines have been able to earn, recognizing them as globally consistent in exhibiting high quality standards while handling pharmaceutical products. Further, U.S. based Nu-Med Plus Inc. has established a quality management program and trained its employees regarding quality standards in an effort to gain ISO 13485 certification. The certification is essential for the company before it files for the approval of its new nitric oxide delivery devices with the FDA and demonstrates the significance of the TIC services market in forming the image of a top-quality healthcare product or service provider.
Overall, the TIC services industry will undergo remarkable transformation due to incessant developments in the life sciences field, resulting from the existence of rigorous certification eligibilities in healthcare and mandates that demand high quality control. Slated to record a 6% CAGR from 2018 to 2024, the TIC services market is highly dispersed with key players like Intertek, SGS SA, Bureau Veritas, DEKRA, TUV SUD, Apave and Eurofins being the major participants.
Author Name : Pankaj Singh