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Outdoor furniture market to procure sizable returns from the residential sector, global industry remuneration to surpass USD 23 billion by 2024

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The global outdoor furniture market has experienced a noteworthy upsurge in the last few years, chiefly influenced by an improvement in the standards of living. The industry trends have also undergone a change of dynamics on account of the availability of countless furnishing options and burgeoning expenditure on exterior decor, especially by urban population. With the surging popularity of outdoor living spaces, the concept of outdoor housing has ascended as a prominent trend. Without a doubt, the outdoor homing trend has increased sales of outdoor furniture, especially patio furniture ranges. For example, nowadays spacious lounges and wide armchairs are a common choice for large patio furniture landscapes amid comfort-seekers.

North America Outdoor Furniture Market, By Product, 2017 & 2024, (Thousand Tonnes)

North America Outdoor Furniture Market, By Product, 2017 & 2024, (Thousand Tonnes)

Another factor that is driving the commercialization fasciae of the market is the existence of multifarious furniture options in terms of designs and styles, which allows homeowners as well as interior decorators to impeccably give the desired appearance to the property. Even government-led initiatives to promote better usage of open spaces and high investments to adorn public spaces, parks, gardens, sports arenas, and other areas will further escalate outdoor furniture market demand. For instance, the Naples City Council has recently awarded a $10.6 Mn contract to Manhattan Construction to develop the long-awaited 15-acre park on the Gordon River, decked with features such as a planted hill, band stage, splendid seating, and a single-story flagship building.

Enumerating the end-use landscape of the global outdoor furniture market:

Residential Outdoor Furniture Market

Outdoor furnishing in residential areas is aimed at creating a finely integrated, soothing, and cohesive space that not just looks astonishing but also functions excellently and augments the pleasure one gets out of the outdoor living area. Apparently, the residential segment emerged dominant in outdoor furniture market in 2017, with a share of 60%.

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Developed nations in North America and Europe are set to offer significant profit generation opportunities to global manufacturers owing to increasing per capita income, shifting lifestyle patterns, and the rising trend of organizing family get-together & dinners in home gardens. In addition to this, the growth in geriatric population will trigger demand for comfort-enhancing outdoor furniture products such as recliners, loungers, adjustable seats, and day beds. In general, there has been a surge in the willingness to spend on luxurious furniture items among homeowners which is adding impetus to the outdoor furniture market growth from residential applications.

Commercial Outdoor Furniture Market

Outdoor furniture market growth from the commercial sector is projected to experience an upward trend in the coming years owing to burgeoning purchase by hospitality companies, business hubs, sports complexes, and municipal gardens. Commercial properties with gardens, pools, outdoor sitting spaces, open-air restaurants, and beaches are the vital revenue pockets of this market. Rising consumer spending on travel and tourism activities has given rise to growth opportunities for the hospitality and recreation industry, which has, in turn, benefitted the outdoor furniture demand from the commercial segment. Hotel consumers have started to impart importance to the ambience, as a result of which the number of sea-side restaurants, pool-side cafes, and terrace restaurants has increased multifold, consequently bolstering the growth of the outdoor furniture market from commercial applications.

Citing the latest developments in the outdoor furniture industry:

Danube Home, a leading home decoration company based in the Middle East, has recently introduced its exclusive Garden Collection 2019 during a launch ceremony in Salmabad, Bahrain. As a part of the garden range launch, a new 2018/19 catalogue was announced which features over 1,500 items, offering an all-inclusive guide for outdoor furniture, décor accessories, and lifestyle elements. The newest collection also encompasses a wide range of bold and vivacious products such as an all in one gazebo, furniture with lighting, convertible benches, an Arabic majlis, sofa with utility function (added table), wall fountain, modular collection, outdoor kitchen with BBQ, and much more.

In view of the abovementioned factors, it is clearly visible that the global outdoor furniture market will emerge as the strong revenue pocket for the overall furniture industry. The growing inclination towards visually appealing as well as comforting landscape designs will spur the demand for outdoor furniture, thereby augmenting the industry trends in the years ahead.

Author NameNikita Chaurasia

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U.S. municipal solid waste management market to accumulate hefty proceeds from paper & paperboard trash, New York to emerge as a lucrative growth avenue

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The remuneration graph of U.S. municipal solid waste management market has witnessed a phenomenal escalation in the past decade, owing to myriad economic & environmental advantages of effective waste management. The burgeoning challenges of solid waste due to tremendous surge in the population in the United States have further compelled the industry players to bring forth innovative, sustainable, and cost-effective approaches of MSW across the country. It has been reported that in general, the waste generation is higher during the strong economic growth of the country and therefore effective solid waste management network forms a significant factor driving the GDP.

Pennsylvania Municipal Solid Waste Management Market Size, By Service, 2017 & 2024 (Million Tons)
Pennsylvania Municipal Solid Waste Management Market Size, By Service, 2017 & 2024 (Million Tons)

Reliable reports claim that the United States produced more than 250 million tons of municipal solid waste in 2014 – a significant high and approximately 4.4 million more than generated in the year earlier. It was further reported that the around 66.4 million tons of waste was recovered for recycling in 2014. Despite the tons of waste to handle, it was not until recently that the sanitation agencies took upon themselves to handle recycling and monitor third-party contractors. The U.S. Environmental Protection Agency in this regard has been encouraging the regional regulators and governmental agencies to make efforts in assisting the upcoming solid waste management scenarios, to ensure proper storage, disposal, segregation, and recycling processes.

Recently for instance, Atlanta regulation agencies has deployed smart phones with waste management application in over 89 sanitation trucks & other vehicles as part of a MSW management pilot program. The use of the application to track truck routes lead them to evenly distribute and take efficient routes to the appropriate landfills and recycling facilities. With further governmental norms encouraging sustainable trash management, New York recycling & composting municipal solid waste management market is another lucrative region garnering hefty proceeds. Estimates claim the U.S. MSW management industry from New York to exceed a valuation over USD 450 million by 2024, owing to the influence of region’s rising population base residing in the urban areas and flourishing tourism industry leading to growing investment in waste management infrastructure.

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Further speaking of the expanding governmental investment in waste management, the U.S. President Donald Trump, recently signed a legislation committing the country to expand its efforts to clean and manage around 8 million metric tons of litter such as plastic, paper, and electronic waste polluting the oceans.

Currently, recycling & composting solid waste has gained immense traction, given the advancement in waste reprocessing and trash conversing technologies. Recycling the waste to convert it into reusable material is significantly helping MSW management agencies in reduced consumption of raw materials and energy usage as well as lowered water & air pollution. The process is further gaining momentum and managed to accumulate over USD 6 billion in 2017, because of the introduction of strict & rigorous anti-dumping laws by both the state & federal regulators and development of recycling approaches for sustainable economic status. For instance, the University of Minnesota has initiated a recycling drive under which it will be recycling more than 3,800 tons of recyclable materials that constitutes more than 40% of the total waste generated in the campus.

In addition to expanding recycling & composting services in the U.S. municipal solid waste management market, it is noteworthy to mention that the paper and paperboard trash accounted for a considerable 26% market share in 2017. Rapid progress of the packaging industry coupled with rising application of recycled paper and paperboard are expected to drive demand.

These above-mentioned trends significantly shed light on the progressive outlook of the U.S. municipal solid waste management market in the recent years. However, it wouldn’t be wrong to say that China’s ban on import waste has rocked the global solid waste management and recycling industry to gear up for managing their own waste and recycling efforts. It remains to be seen that how the U.S. municipal solid waste management industry will cope with the sudden change in policies as these new accumulating waste loads incur increasingly high rates in managing and recycling waste. Nonetheless, experts believe that as the export market for waste product dries up, the U.S. municipal solid waste management industry will be seen desperately recovering, recycling, and reducing the waste, while surpassing the overall remuneration portfolio of over USD 25 billion market by 2024.

Author NameOjaswita Kutepatil

Enumerating the role of 3D printing in automotive market: How the technology is changing the face of automobile manufacturing & prototyping

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Additive manufacturing technologies over the past years have made a strong case in product innovation and 3D printing in automotive market, in particular, has significantly transformed the potential ways in which products are designed, manufactured, and distributed. The additive manufacturing techniques have also opened doors for lighter, cleaner, and more safe products with comparatively lower cost and shorter lead time. Quite overtly, these physiognomies have paved a lucrative way for the commercialization matrix of automotive 3D printing market, which has already chronicled its name in the coveted billion-dollar fraternity in 2017. According to a report by Global Market Insights, Inc., the global 3D printing in automotive market was estimated at over USD 1.4 billion in 2017, while registering annual sales of 3D printers over 110 thousand units.

U.S. 3D Printing in Automotive Market Revenue, By Component
U.S. 3D Printing in Automotive Market Revenue, By Component

Given the proliferating 3D printers sale in the automotive sector, it has been identified that accelerating production is the highest priority the auto companies are relying on 3D printing for, climbing from 29% in 2017 to 39% in 2018. Auto manufacturers are increasingly relying on 3D printing to streamline and expand their possibilities of mass customization, build-to-order product strategies, and in increasing the production flexibility and sales.

The role of 3D printing in driving competitiveness

According to a report by Forbes, over 93% of companies in 2018 are using 3D printing and are gaining competitive advantages such as reduced time-to-market and flexible shorter production runs for potential customers. The technological advancements in 3D metal materials have further led this business sphere to depict a profound growth. Estimates claim that over 36% of the companies are using metal material for 3D printing in 2018, a considerably upswing from 28% in 2017. The data signifies the greater adoption of 3D printers for production operations, which in turn is propelling automotive 3D printing market growth.

While there is no doubt that additive manufacturing has taken the automotive industry by storm, it would to interesting to take note of some industry magnates who are leveraging the technical trajectory of AM in driving their revenue growth. Enumerated below are few recent instances that shed light on the increasing adoption of 3D printing in automotive industry.

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Volkswagen is using 3D printing for mass production

Automotive industry behemoth Volkswagen has recently announced that it will be using the latest 3D printing technology for manufacturing different auto parts. The company will be using the technology with the HP Metal Jet process that is expected to simplify and speed up the metallic 3D printing. According to reports, a Volkswagen vehicle is manufactured from around 6000 to 8000 different parts and 3D printing has helped immensely in mass production of these parts.

Volkswagen with HP and GKN, is further planning to take the technology to next level that could be able to produce individualized design parts including gear knobs, tailgate lettering, and special keys with personalized lettering without a great deal of effort. Significantly reducing the time required for manufacturing parts and assisting in production of mass quantities, the automotive 3D printing market demand is expected to thrive several notches up in the ensuing years.

Nanosteel unveils Formetrix, aids commercialization of metal 3D printing

An advanced materials company, Nanosteel has recently unveiled that it has launched an enterprise focusing chiefly on materials for additive manufacturing. The new corporation, dubbed as the Formetrix, is expected to further the commercialization of 3D printing metals and as well offer on-demand production services. It has been reported that Nanosteel will be supporting two areas – steel powders and sheet steel for automotive lightweighting for 3D printing. This has grabbed the attention of several automotive 3D printing industry players for investment & development of their metal auto parts. Besides the automotive 3D printing industry, the company will be playing a key role in additive manufacturing components of the oil & gas, construction, and heavy machinery markets.

Audi accelerates automotive design with Stratasys 3D printing

This German auto maker has recently announced that it has adopted the Stratasys’ J750 full-color and multi-material 3D printer for accelerating the design verification process and reducing the time required for prototyping. Leveraging the additive manufacturing technology, Audi claims that it has accomplished prototyping lead time cuts by as much as 50% for some parts. According to reliable reports, prototyping & tooling application accounted for 60% of automotive 3D printing industry share in 2017, and Audi’s adoption of Stratasys 3D printing bears testimony to the rapid expansion of this segment.

With increasing number of big-name manufacturers embracing 3D printing in automotive industry, it wouldn’t be wrong to say that this technology has come a long way and has the power to influence the direction in which auto design sector will head in future. Considering the sheer size of the global automotive industry, 3D printing is all set to be a game-changer in shaping automotive design and manufacturing trends. Soon to become an integral part, 3D printing in automotive market is poised to further unlock tremendous innovation potential and gather a remuneration portfolio exceeding USD 8 billion by 2024.

Author NameOjaswita Kutepatil

Global refinery catalyst market to benefit from increased oil refining capacity in developing nations, government mandates for greener fuel to drive the industry progression

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Increasing demand for reformulated gasoline has played a significant role in strengthening the refinery catalyst market, with stringent emission control regulations and environmental laws being implemented. Blended on the chemical level to burn more cleanly and efficiently than conventional fuels, reformulated gasoline is attributed with the benefit of reducing toxic pollutants and smog-formation in our air. The refinery catalyst industry is gradually aligning with the increased petroleum production resulting from the resurgence of oil & gas industry, in the process of stabilizing after a tremendous downfall earlier in the decade. With an attempt by major refineries worldwide to comply with fuel standards, achieve operational efficiency and enhance the fuel output with minimum emissions, the refinery catalyst market can soon be expected to achieve escalated consumption rates.

China Refinery Catalyst Market Size, by Type, 2014 – 2025 (USD Million)
China Refinery Catalyst Market Size, by Type, 2014 – 2025 (USD Million)

A key incentive towards the growth of the refinery catalyst industry is a global population that is multiplying exponentially, impelling the fuel demand for use in transportation & industrial power generation. Reportedly, the transportation sector, comprising of automobile, aviation and marine is responsible for more than 60% of the total fuel utilization. Considering the prediction by the United Nations that indicates reaching a global population of over 9.8 billion by the year 2050, one can only surmise the amount of resources that will be required to support the extensive energy needs of the future. With China and India being the most populated nations, the Asia-Pacific refinery catalyst market apportioned for over 30% of the overall industry owing to the cumulative reformulated fuel consumption. As these two countries are expected to remain the top two inhabited nations going forward as well and are introducing tighter legislations to curb emissions, the Asia-Pacific belt is slated to contribute enormously to the refinery catalyst market.

In an example showcasing the potential of Asian refining catalyst industry, ExxonMobil recently announced about its discussions regarding a multi-billion dollar expansion of its clean fuel outputs at the Singapore refinery. The Singapore complex is one of Exxon’s largest production site for fuel, lubricants and chemicals and the project is aimed at increasing its output of fuels that comply with the International Maritime Organization’s global sulphur limit. The venture demonstrates the outlook of international oil & gas corporations towards the promising Asia-Pacific market, giving a thrust to the refinery catalyst industry in the region.

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Another instance that envisions a growing refinery catalyst market is the cooperative venture between Indian Oil Company and Saudi Aramco, recently joined by the Abu Dhabi National Oil Company (ADNOC) which will buy 50% of Aramco’s share in the venture. The project is aimed at building a USD 44 billion refinery and petrochemical complex in the coastal city of Ratnagiri, India. The refinery is a part of the country’s target to achieve a refining capacity of over 9 million barrels by the end of 2030. Similar expansions can be observed across other Asian countries, where oil companies are working to cater the pumped up demand for fuel and also adhere to the environmental mandates, boosting the worldwide refinery catalyst market.

The expansion of refining capacity is anticipated to be at a faster pace in developing countries than in developed countries, as more efforts are being made by them to tap into available resources within their territories. According to the Kazakhstan government, the nation is planning to export surplus gasoline product to Asia and other nearby regions. Besides, the Shymkent Oil Refinery will have a fluid catalytic cracking unit installed by September to support the high octane gasoline productions, along with modernization at other oil plants. Needless to say, with smaller nations taking big leaps towards producing low-emission high-throughput fuel, the refinery catalyst market will be characterized by a renewed dynamism in the coming years.

As evident, the prospects of the refinery catalyst industry largely depend on the oil producing and refining capacity of regions, which explains why North America held the prominent 40% of the global share in 2017. Specifically, the U.S. is reported to have the highest refining capacity in the world with an ability to produce 18.5 million barrels per day.

The global refinery catalyst market is bursting with several corporations and oil services companies that enable the enrichment of crude oil or petroleum, with innovations to better the existing technologies being made. For instance, BASF catalysts declared the commercial launch of an evolved catalytic cracking catalyst, Boroflex, designed to optimize the bottoms upgrading and distillation yield of refineries. Owing to such developments in the field of refining processes and stricter norms to be implemented by government organizations, the refinery catalyst market is estimated to witness a CAGR of 3% from 2018 to 2025.

Author NamePankaj Singh

Aviation sector to boost thermal spray coating market over 2017-2024, stringent regulatory framework to encourage innovative product development

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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)
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

APAC Laser Materials Market to contribute significantly toward the global share, communication sector to drive the application landscape

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Considering the increasing proliferation of laser technologies in medical space, Laser Materials Market demand is undoubtedly set to grow substantially in the forthcoming years. Technological interventions have not only influenced laser materials portfolio but also have widened the application scope of the market. An exemplary transformation in the therapeutic model in terms of medical facilities has acted in favor of the business growth. For instance, shifting trend toward replacing non-laser technologies across various domains that include oncology, neurology, and dentistry has been immensely catapulting the market expansion over the years. Speaking of healthcare, laser technology has already gained a momentum in this space and with technological advancements, it is anticipated to unfold a series of new opportunities, leaving a subsequent impact on laser materials market.

Europe Laser Materials Market Size, By Application, 2013 – 2024 (USD Mn)
Europe Laser Materials Market Size, By Application, 2013 - 2024 (USD Mn)

Estimates depict, the industry will exceed a valuation of USD 1.7 billion by the end of 2024, with a projected CAGR of 5.5% over 2017-2024. Plastic technology is the latest thriving trend in laser materials market that is opening new avenues for the investors. With the continuous evolution of polymers and composite materials configuration, the technology is likely to penetrate deeper into the business. On that note, it is important to consider the unprecedented efforts the instrument manufacturers are taking in reducing the complexity of these devices, which again will prove to be favorable for laser materials industry outlook.

With digital disruptions globally, the volume of data has been exponentially increasing across various industries. Communication sector is one of the profound spaces witnessing the proliferating penetration of laser materials. Communication applications procured one-third of laser materials industry share in 2016. Military applications have been also gaining a traction lately. High demand for lightweight cost-effective armaments has resulted in the utilization of laser materials in this domain. Key market players are also investing in research activities to extend the product portfolio to win a competitive edge in the global landscape.

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Geographically, Asia Pacific is one of the significant regions partaking in the laser materials market. The expanded manufacturing base along with upgraded healthcare infrastructure are the prime factors driving the regional market.  China, Taiwan, India, And South Korea are the major countries contributing substantially toward the regional share. Increasing population in APAC is also a vital factor enhancing laser material market dynamics. With a significant contribution toward the overall revenue in 2016, APAC will continue to be a strong participant in the global laser materials market in the years ahead.

North America laser materials market is also anticipated to chalk a lucrative growth path, subject to the region’s progressive military terrain particularly in the U.S.  The country receives a huge amount of funding every year for laser weapons. With U.S. as a forerunner, North America laser materials industry in the coming seven years is slated to carve a profitable road map.

Laser technology undoubtedly is one of the most commendable innovations of the twentieth century. With a broader spectrum of application across the healthcare, military, and communication, laser materials market penetration has generated a remarkable momentum. Reduced material prices coupled with their reliability and enhanced lifespan are further pushing the laser materials market demand. Prominent industry participants include Asahi Glass Co., Ltd, Morgan Advanced Materials, BASF SE, Dow Chemical Company, GrafTech International, Taishan Fiberglass inc., CeramTec GmbH, Sinopec Shanghai Petrochemical Co., Ltd, Murata Manufacturing Co., Ltd., Anglo American plc., Mitsubishi Chemical Holdings Corp., Norilsk Nickel, Evonik Industries, Universal Laser Systems, Inc., and Corning Inc.

Author Name : Satarupa De

U.S. electrostatic precipitator market to accrue commendable returns by 2024, rising number of infrastructural and renovation projects to stimulate the regional industry

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The global aim to control pollutant emissions occurring due to the rising number of industries will tend to electrostatic precipitator market gaining considerable traction in the years to come. Leading providers of electrostatic precipitators are constantly attempting to improvise on the product offering to combat the rising carbon footprints in the atmosphere. For instance, recently GE Power India received a contract worth more than USD 2.37 billion from GE Power AG, to supply electrostatic precipitator components and CFB boiler of capacity 150 MW. Strict government directives imposed on industries to control the pollutant emission levels will act as a major driver for global electrostatic precipitator industry.

North America Electrostatic Precipitator Market Size, By Emitting Industry, 2017 & 2024 (USD Million)
North America Electrostatic Precipitator Market Size, By Emitting Industry, 2017 & 2024 (USD Million)

High consumer spending capacity in the emerging economies is likely to boost the growth of the construction and infrastructural sector in the region, which is turn will fuel electrostatic precipitator market. The high demand for uninterrupted power supply has led to the implementation of myriad power projects. However, the growing awareness regarding the harmful inhalation of Sulphur trioxide and other pollutants has also prompted power companies to look out for measures to control these emissions, which will drive electrostatic precipitator industry trends. Global Market Insights, Inc., states that electrostatic precipitator market size is slated to register a y-o-y rate of 5% over 2018-2024.

Developing economies such as India and China are powerhouses for the growth of the construction and industrial sectors. This in itself is a strong driver for APAC electrostatic precipitator industry. Speaking of APAC, China held 3% of the regional share in 2015 and is anticipated to grow significantly over the period of 2018-2024, primarily driven by the rising implementation of coal fired power plant projects. To fulfill the demand for power supply, China plans to increase its electricity manufacturing capacity by 19% over the coming five years, which will claim the establishment of more power plants. This in turn, will stimulate the demand for precipitators, thereby fueling China electrostatic precipitator market.

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With a substantial contribution to boast of, U.S. electrostatic precipitator industry is projected to observe a CAGR of 4% over 2018-2024. The regional industry is likely to be driven by the robust construction activities in the country, in addition to the players on the home ground adopting stringent norms to control emissions. The U.S. is also characterized by hefty investments in numerous infrastructural and renovation projects that would further escalate the demand for electrostatic precipitators. As per estimates, U.S. electrostatic precipitator industry size is likely to cross USD 1 billion by 2024.

Prime participants of electrostatic precipitator industry include Fujian Longking Co., Ltd., Mitsubishi Heavy Industries Mechatronics Systems, Siemens AG, GEECO Enercon Pvt. Ltd, Total Air Pollution Control Pvt. Ltd., Blacke-Durr GmbH, Trion Inc., Babcock & Wilcox Enterprises, Ducon Technologies Inc., Clean Tunnel Air International AS, Thermax Ltd., and Hamon Corporation. These companies aim to efficiently control the rising pollution levels by improving the product standards.

Global power demand is anticipated to surpass 45% by 2040, as per reliable statistics. Growing demand for electricity and the subsequent installation of power plants will thus propel electrostatic precipitator industry from power plant applications. That said, the rising need, especially from emerging economies, to curtail SO3 emissions has led to the adoption of heavy emission control measures across coal fired power plants, that will further impel electrostatic precipitator industry size from power plants. According to the IEA, coal fired power generation held the tag of being the biggest source of electricity generation across the globe, covering a proportion over 35%.

With the governments across the globe working in tandem to eliminate harmful pollutant emissions, global electrostatic industry is bound to witness an upsurge in the ensuing years. Constant efforts by market players to introduce efficient ESPs will also change the market dynamics. As per Global Market Insights, Inc., electrostatic precipitator market size is slated to cross USD 8 billion by 2024.

Author Name :Saipriya Iyer