Surge Protection Devices Market Growth, Industry Analysis, Business Opportunities and Latest Innovations
Surge Protection Devices Market Synopsis:
The rising demand in the power sector has generated demand for technological innovations in power infrastructure. This, in turn, is presumed to pave the way for the installation of surge protection devices on the global front over the next couple of years. This report by Market Research Future (MRFR) unravels that the global surge protection devices market is anticipated to expand at 5% CAGR across the forecast period 2018 to 2023.
Industries across the world are investing in the deployment and installation of expensive machinery and equipment. In order to protect these machineries and equipment, the demand for surge protection devices is skyrocketing. In addition, the rise in alternative energy implementations is also anticipated to drive the proliferation of the surge protection devices market in the forthcoming years. The existing systems for combating loads in industries require high maintenance costs while exhibiting low efficiency. It is expected to lead the growth
Regional Analysis:
The geographical analysis of the global surge protection devices market spans across Europe, Asia Pacific (APAC), North America, and the Rest of the World (RoW). These regional segments are studied on a regional and a country-level basis in the report. Europe and North America are currently dominating the global market. Increasing investments in smart cities, in conjunction with the rising urban population, is expected to drive the growth of the surge protection devices market in these regions over the next couple of years. Also, the digitization of end-user industries is anticipated to expedite the expansion of the market in the upcoming years. Asia Pacific is also assessed to hold a substantial share of the surge protection devices market during the assessment period. China, India, South Korea, and Indonesia are anticipated to exhibit rapid growth in the foreseeable future.
Market Segmentation:
By application, the surge protection devices market is segmented into residential, commercial, and industrial. Among these, the industrial segment is projected to strike a higher CAGR over the next couple of years. The installation of expensive machinery & equipment in industries has intensified the demand for surge protection devices for their protection. It is anticipated to drive the proliferation of the segment in the years to come.
The type-based segments of the surge protection devices market are plug-in protection devices, line cord, hard wired, and power control devices. The hard wired segment is likely to lead the growth pattern of the market during the forecast period. Increasing installation of the product in buildings to provide protection against lightning strikes is poised to amplify the growth rate of the segment over the next couple of years.
On the basis of voltage, the surge protection devices market has been divided into high voltage and low voltage. Among these, the high voltage segment is assessed to benefit immensely from the rising demand across end-user industry verticals.
Competitive Dashboard:
Schneider Electric SE (France), Mitsubishi Electric Corporation (Japan), ABB Ltd. (Switzerland), Alstom SA (France), Toshiba (Japan), Siemens AG (Germany), Larsen & Turbo (India), Hitachi (Japan), Hyundai heavy industries (South Korea), Fuji Electric (Japan), Xian XD (China), Nissin Electric (Japan), Hyosung (China), Eaton (Ireland), Bharat Heavy Electric Ltd. (India), and Meidensha (Japan) are few of the major participants of the surge protection devices market. These players are constantly investing in the development of their product portfolios to gain an edge over other competitors. This is presumed to intensify the competition in the global market in the forthcoming years.
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About Market Research Future:
Market Research Future (MRFR) is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.
We at MRFR provide syndicated and customized reports to clients as per their liking. Our consulting services are aimed at eliminating business risks and driving the bottomline margins of our clients. The hands-on experience of analysts and capability of performing astute research through interviews, surveys, and polls are a statement of our prowess. We constantly monitor the market for any fluctuations and update our reports on a regular basis.
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Battery Recycling Market 2021 – Industry Trends and Forecast to 2027
Market Analysis
Market Research Future (MRFR) projects the global battery recycling market size to reach USD 24.50 billion at a CAGR of 5.85% from 2020 to 2026 (forecast period).
Growing environmental concern around the world has made recycling used products a necessary task in order to meet the global demand of reducing humankind's carbon footprint in the long run. Other major factors driving the significant growth of the battery recycling market during the forecast period will be increasing concerns about depleting precious and rare earth metals, rising demand for recycled batteries in general, and stringent government regulations and EPA (Environmental Protection Agency) guidelines directed at minimizing harmful emissions and reducing global warming.
Growing concerns about battery waste disposal, as well as strict government policies in light of the increased use of lithium-ion batteries, are driving the growth of the battery recycling market. This increase in usage can be attributed to the decrease in lithium-ion battery prices as well as the growing adoption of electric vehicles, which rely heavily on this battery type. The toxic waste generated by the manufacturing of new batteries is much greater than the toxic waste generated by recycling them. That is one of the main reasons why many governments have enacted favorable regulations for this industry, and these regulations are expected to keep battery recycling market trends rising.
COVID-19 Impact on the Global Battery Recycling Market
The battery recycling market growth was hampered by widespread supply chain disruptions around the world and manufacturing processes that were hampered and/or suspended during the COVID-19 outbreak. Labor shortages, raw material scarcity, global trade stagnation, and subsequent delays in product installation in the market ecosystem have proven to be key difficulties that the industry will have to overcome. Delayed projects result in price increases, which further impede the battery recycling market outlook.
Market Segmentation
The global battery recycling market has been segmented into chemistry, application, and source.
By chemistry, the global battery recycling market has been segmented into lead-acid, nickel-based, lithium-based and others.
By application, the global battery recycling market has been segmented into transportation, consumer electronics, industrial and others.
By source, the global battery recycling market has been segmented into automotive batteries, industrial batteries and consumer & electronics appliance batteries.
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Key Players
Call2Recycle, Inc. (US), Battery Solutions, LLC (US), Exide Technologies (US), Umicore (Belgium), Exide Industries Ltd. (India), Contemporary Amperex Technology Co. Ltd. (CATL) (China), GEM Co., Ltd. (China), EnerSys (US), Johnson Controls International plc (US), Aqua Metals, Inc. (US), Retriev Technologies Inc. (US), Gravita India Limited (India), ECOBAT Logistics (UK), Fortum Oyj (Finland), Teck Resources Limited (Canada), American Manganese Inc. (Canada), Glencore International AG (Switzerland), TES-AMM Singapore Pte Ltd (Singapore), RSR Corporation (US), COM2 Recycling Solutions (US), East Penn Manufacturing Company, Inc. (US), The Doe Run Company (US), Raw Materials Company Inc. (RMC) (Canada), Neometals Ltd (Australia), Terrapure Environmental (Canada), Gopher Resource LLC (US).
Regional Analysis
Region-wise, the global battery recycling market has been segmented into North America, Asia Pacific, Europe, and the rest of the world.
During the forecast period, the Asia Pacific region will be seen leading the battery recycling market with the highest projected CAGR. The Asia Pacific battery recycling market will grow due to rising demand for electric vehicles and tightening environmental regulations in APAC countries. China, India, Japan, and South Korea will be the primary drivers of this market.
Summary
The global battery recycling market is set to reach USD 24.50 billion at a CAGR of 5.85% from 2020 to 2026 (forecast period). During the forecast year, global environmental awareness will drive global battery recycling market trends. While manufacturing batteries is a less expensive procedure than recycling them, the overall negative environmental impact of manufacturing them is driving governments to invest in recycling projects. Governments have implemented favorable regulations and policies to assist players in the battery recycling market, which will further expand the global battery recycling market share in the coming years.
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About Market Research Future:
Market Research Future (MRFR) is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.
We at MRFR provide syndicated and customized reports to clients as per their liking. Our consulting services are aimed at eliminating business risks and driving the bottomline margins of our clients. The hands-on experience of analysts and capability of performing astute research through interviews, surveys, and polls are a statement of our prowess. We constantly monitor the market for any fluctuations and update our reports on a regular basis.
Contact Us:
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Pune - 411028
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+1 646 845 9312
Diesel Genset Market In-Depth Analysis & Global Forecast to 2027
The diesel genset market is witnessing a continual rise. The market growth attributes to the growing demand for uninterrupted and reliable power supply. Besides, the increasing demand for energy and frequent power outages create substantial market demand. Moreover, frequent outages caused by natural calamities that can interrupt operations in industries, emergency services, homes, and commercial establishments, further escalate market growth.
According to Market Research Future (MRFR), the global diesel genset market is forecasted to grow at 5.07% CAGR during the forecast period (2019 to 2025). The significant shift towards diesel generators due to the increased usages of rental power propels the growth in the market. Also, the advantages of diesel gensets such as cost-effective and reliable power supply accelerate the demand in the market.
Additionally, the rising demand for ready-to-run yet highly customizable power solutions that can meet any power capacity requirement, irrespective of how demanding the project or operating conditions are, boost the market size. Furthermore, robust engines of diesel generators that can stand on reliability due to their simple design and ease of maintenance make these gensets perfectly suited to hot and dusty environments and for remote applications.
Their impressive load response allows customers to use a smaller and cost-effective package to power their needs. High engine efficiency, low operational cost, and more efficiency of diesel genset are some of the prominent driving forces. On the other hand, stringent regulations against CO2 emissions are a major factor projected to continue impeding market growth. Also, high noise and air pollution would continue to restrict market growth.
Nevertheless, new developments of high ambient cooling systems that ensure maintained performance even in the most extreme environments would support the market growth throughout the review period. Also, fuel mapping options for optimized fuel consumption for use in non-emissions regulated regions and low-NOx optimized emissions for use in mission-critical applications such as data centers enable the diesel gensets to be deployed globally without worry.
New engines come with a closed-loop regeneration crankcase ventilation system and rigid block, crankcase, and sub-frame, which is estimated to contribute to the market growth exponentially to reduce noise and vibration.
Industry/Innovation/ Related News:
December 01, 2020 ---- KOHLER-SDMO (France), an industrial generator manufacturer, launched a new diesel-powered generator sets, expanding the top end of its KD Series. The rollout of new models 4000kVA & 4500kVA (50Hz) and 3500kW & 4000kW (60Hz) is based on strong worldwide market response. These generators are equipped with the APM802 controller that ties the entire system together for a seamless customer experience.
Additionally, the generators are designed to deliver extreme durability and ultimate reliability in a variety of emergency and prime applications, expanding the limits of standby generator sets.
Global Diesel Genset Market – Segmentations
The report is segmented into five dynamics;
By Probability: Stationary and Portable.
By Power Rating: Up to 100 kVA, 100 kVA–350 kVA, 350 kVA–1,000 kVA and Above 1,000 kVA.
By Application: Standby, Peak Shaving, Continuous, and others.
By End Use : Industrial, Commercial, and Residential.
By Regions : Asia Pacific, Europe, Americas, and the Rest-of-the-World.
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Global Diesel Genset Market – Geographical Analysis
The Asia Pacific region dominates the global diesel genset market. The largest market share attributes to the growing demand for steady & reliable power supply, rising development in data centers, and the increasing oil & gas activities in the region. Besides, the massive availability of diesel in the region due to the rising production fosters the regional market's growth. Moreover, inexact government regulations for vehicle emission positively impact the growth in the regional market.
On the other hand, diesel genset markets in North America and Europe demonstrate sluggish growth, mainly due to stringent fuel mapping regulations. However, optimized emissions in non-emissions regulated regions in Europe, the USA, Canada, etc., support the market growth in these regions. Additionally, low-NOx optimized use in mission-critical segments like data centers enables the diesel generators to be deployed without worry. Also, the cost-effectiveness of diesel gensets boosts market growth, delivering top-of-the-line fuel consumption regardless of the calibration.
Global Diesel Genset Market - Competitive Landscape
Fiercely competitive, the diesel genset market is categorized by the presence of numerous well-established players. These players incorporate strategies such as mergers & acquisitions, collaboration, technology/product launch, and expansion. Promotions through trade exhibitions and product commercialization are the other key strategies adopted by these players. Manufacturers strive to develop their portfolio with high-quality gensets of different capabilities. They are committed to delivering reliable, leading-edge products and comprehensive after-sales support.
Major Players:
Players leading the global diesel genset market include Caterpillar (US), Cummins Inc. (US), Mitsubishi Heavy Industries, Ltd (Japan), Kohler Co. (US), Wärtsilä (Finland), Atlas Copco AB (Sweden), Yanmar Co. Ltd. (Japan), Rolls-Royce plc (UK), Kirloskar Electric Company (India), Generac Power Systems, Inc. (the US), JS Power (UK), General Electric (US), Sutton Power Engineering (UK), Ashok Leyland (India), and Denyo Co., Ltd (Japan), among others.
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About Market Research Future:
Market Research Future (MRFR) is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.
We at MRFR provide syndicated and customized reports to clients as per their liking. Our consulting services are aimed at eliminating business risks and driving the bottomline margins of our clients. The hands-on experience of analysts and capability of performing astute research through interviews, surveys, and polls are a statement of our prowess. We constantly monitor the market for any fluctuations and update our reports on a regular basis.
Contact Us:
Market Research Future
Office No. 524/528, Amanora Chambers
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Pune - 411028
Maharashtra, India
+1 646 845 9312
Marine Diesel Engine Market 2021 Trends, Research, Analysis & Review Forecast 2027
Overview
The marine diesel engine market is projected to grow at a CAGR of 3.83% during the forecast period. As per the marine diesel engine market research report, the global market for marine diesel engine is anticipated to grow rapidly by US$6,300 million by 2023. As per analysts, increased focused on energy efficient marine engine along with the growing seaborne trade will drive the market growth throughout the forecast period. The marine diesel engine market research report provides an in-depth analysis of the global marine diesel engine market and its speed, type, application, and stroke segments. The high cost as well as lack of developed infrastructure are the factors which could affect the marine diesel engine market growth during the forecast period. The marine diesel engine market research report by expert analysts is intended to help companies in the marine diesel engine market.
Market Segmentation
The global marine diesel engine market has been segmented based on speed, type, application, and stroke. On the basis of speed, the market for marine diesel engine is segmented based on low-speed, medium-speed and high-speed. Additionally, the market on the basis of type, is segmented into auxiliary and propulsion. The global market for marine diesel engine is also covered based on application segment which is further split into cargo ship, cruise ship and others . On the basis of stroke, the market for marine diesel engine is segmented based on 2-stroke and 4-stroke.
Key influences such as slow economic growth in certain areas could obstruct the marine diesel engine market growth. However, as per the marine diesel engine market research report, adoption of new maritime technologies as well as marine pollution control laws will drive growth during the forecast period. These key growth factors will help support the marine diesel engine market growth at a high CAGR. The segmental analysis of speed, type, application, and stroke segments as well as regional market analysis has been presented in the global marine diesel engine market research report. Analysts studying the marine diesel engine market have presented projections in the marine diesel engine market research report assisting marine diesel engine market-based companies in numerous ways. The marine diesel engine market research report offers crucial details about the marine diesel engine market based on the data and forecasts till 2023.
Competitive Landscape
Modernization of ships and introduction of new maritime safety policies are expected to accelerate the marine diesel engine market growth worldwide. The global marine diesel engine market is set to witness challenges including lack of aewareness, however, companies in the marine diesel engine market will sustain the growth rate. The marine diesel engine market research report also offers company profiles of key players operating in the marine diesel engine market around the world. Additionally, the global marine diesel engine market report provides detailed analysis of the market based on primary and secondary research data collected from the marine diesel engine market’s key decision makers as well as stakeholders. The marine diesel engine market research report covers all such factors assisting companies in the marine diesel engine market to improve their plans and portfolio.
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Industry News
Diesel Outboards, LLC is pleased to report that Scott Marine Power is a South Florida-led pioneer in the selling and service of marine diesel engines and the world's largest supplier of diesel engines in Florida. In its work on yacht reparing services from Florida, to the Caribbean and to South and Central America, Scott Marine Power has developed a reputation for expertise and experience in the Diesel Marine industry from 1998.
Regional Overview
North America, Europe, Asia Pacific and the rest of the world regional market for marine diesel engine are primarily covered in the global marine diesel engine market research report. The report also covers country-level markets spread across North America – the United States, Canada, and Mexico. In South America – Brazil and other country-level marine diesel engine markets are covered in the report. In Asia-Pacific (APAC) region, the country-level marine diesel engine markets covered are China, India, Japan, and others. The marine diesel engine market research report also covers the regional market for marine diesel engine spread across European countries including the United Kingdom, France, Italy, Spain, and Germany, etc. The marine diesel engine market research report further explores other regional markets from the rest of the world including marine diesel engine markets of the Middle East and Africa. As per the global marine diesel engine market research report.
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About Market Research Future:
Market Research Future (MRFR) is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.
We at MRFR provide syndicated and customized reports to clients as per their liking. Our consulting services are aimed at eliminating business risks and driving the bottomline margins of our clients. The hands-on experience of analysts and capability of performing astute research through interviews, surveys, and polls are a statement of our prowess. We constantly monitor the market for any fluctuations and update our reports on a regular basis.
Contact Us:
Market Research Future
Office No. 524/528, Amanora Chambers
Magarpatta Road, Hadapsar
Pune - 411028
Maharashtra, India
+1 646 845 9312
Cryogenic Pump Market - Greater Growth Rate during forecast 2021 - 2027
Market Analysis
The global cryogenic pumps market size is predicted to develop at a 4.02% CAGR between 2017- 2024, states the recent Market Research Future (MRFR) analysis. Cryogenic pumps, simply put, are vacuum pumps that help to capture gases via condensing the same on cold surfaces that is at low temperature. Positive displacement and centrifugal are its different types that have wide applications in electronics, metallurgy, chemicals, energy and power, and others.
Various factors are propelling the global cryogenic pumps market share. According to the recent MRFR report, such factors include the increasing use of gases across bioscience and healthcare facilities, growing investments in energy and power, rising investments in oil and gas and electrical and electronics segment, growing adoption of such pumps in the metallurgy sector, demand for LNG based power generation, growing use of oil tankers for transportation in the shipbuilding industry, demand for liquid gases, and growth of medical gases to diagnose and treat different respiratory diseases like cardiovascular, asthma, and others.
On the contrary, the impact of the current COVID-19 pandemic and the fall in steel production are factors that may limit the global cryogenic pumps market growth over the forecast period.
Regional Analysis
By region, the global cryogenic pumps market covers the growth opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), the Middle East and Africa (MEA), and South America. Of these, the APAC region will spearhead the market over the forecast period. Industrial development in Malaysia, India, China, and other Southeast Asian countries, growing energy need, rapid urbanization, focus on renewable generation, focus on eco-friendly sources of fuel like LNG to reduce carbon emissions, and growing demand in different end use industries such as metallurgy, processing, and manufacturing are adding to the global cryogenic pumps market growth in the region.
In Europe, the global cryogenic pumps market is predicted to hold the second-largest share over the forecast period for the shift in focus towards eco-friendly sources of fuel like LNG to reduce carbon emissions and strong growth in the healthcare and food & beverage industry. Spain, Italy, and France have the utmost share in the market for the growing oil and gas, metallurgy, and petrochemicals industry.
In North America, the global cryogenic pumps market is predicted to have healthy growth over the forecast period for the rising application in the industrial sector and the vast potential of LNG.
In the MEA, the global cryogenic pumps market is predicted to have sound growth over the forecast period for the increasing investments in petrochemical and oil & gas industries.
In South America, the global cryogenic pumps market is predicted to have steady growth over the forecast period.
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Key Players
Key contenders profiled in the global cryogenic pump market report include Technex Limited (India), Ruhrpumpen Inc. (Mexico), PHPK Technologies Inc. (US), Nikkiso Cryo Inc. (US), Cryostar SAS (France), Cryoquip Australia, Brooks Automation (US), Fives S.A. (France), Sumitomo Heavy Industries (Japan), Flowserve Corporation (US), and Ebara Corporation (Japan).
Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global cryogenic pumps market based on type, gas, and end use.
By type, the global cryogenic pumps market is segmented into positive displacement and centrifugal. Of these, the positive displacement type segment that will lead the market over the forecast period.
By gas, the global cryogenic pumps market is segmented into LNG, argon, oxygen, and nitrogen. Of these, the LNG gas segment will dominate the market over the forecast period.
By end use, the global cryogenic pumps market is segmented into electronics, metallurgy, chemicals, energy and power, and others. Of these, energy and power end use segment will spearhead the market over the forecast period.
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About Market Research Future:
Market Research Future (MRFR) is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.
We at MRFR provide syndicated and customized reports to clients as per their liking. Our consulting services are aimed at eliminating business risks and driving the bottomline margins of our clients. The hands-on experience of analysts and capability of performing astute research through interviews, surveys, and polls are a statement of our prowess. We constantly monitor the market for any fluctuations and update our reports on a regular basis.
Contact Us:
Market Research Future
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Pune - 411028
Maharashtra, India
+1 646 845 9312
Pumps Market 2021 Trends, Research, Analysis & Review Forecast 2027
Market Highlights
Pumps are basically classified into two categories, namely, positive displacement and dynamic pumps. Positive displacement pumps are further classified intro two types, namely, reciprocating and rotary. Dynamic pumps are of two type, namely, centrifugal and special effect pumps. Centrifugal pumps are used to transport liquid with large volume and substantial pressure head and are largely utilized for water, wastewater, and industrial liquid transportation in the power, steel, and domestic sectors.
Based on end-user, the market is segmented as oil & gas, water & wastewater, power generation, chemicals, pharmaceutical, food & beverage, and others. Water & wastewater segment is estimated to dominate the market during the forecast period. Water & wastewater segment is estimated to dominate the market during the forecast period due to rising investment in waste water industry across the globe. The awareness level of water reuse has increased due to the decreasing level of groundwater globally. Industrial sector consumes a large volume of water, and due to depleting reserves of groundwater, the reuse of water has become essential.
The global Pumps market is expected to grow at ~ 4.70% CAGR during the forecast period.
Key Players
The key players of the global pumps market are Grundfos (Denmark), Sulzer (Switzerland), Flowserve (US), ITT Corporation (US), Danfoss (Denmark), Ingersoll-Rand (Ireland), The Weir Group (UK), Ebara Corp (Japan), KSB (Germany), Schlumberger (US), Nikkiso Co Ltd (Japan), Wilo AG (Germany), and Roper Industries (US), among others.
Market Research Analysis
Asia Pacific accounts for the largest market for pumps.
Region wise, Asia Pacific held the largest market share of the global Pumps market in 2017. It is estimated that Asia-Pacific region would be the fastest growing market during the forecast period, mainly due to the rising investment infrastructure development. Moreover, the increased demand from the water and wastewater sector, moderate demand from constructions sector, rising urbanization, and supportive government plans are expected to drive the market for pumps in Asia Pacific region.
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Scope of the Report
This report provides an in-depth analysis of the global Pumps market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Asia-Pacific (APAC), Europe, Middle East & Africa, and South America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Pumps market by its type, end-user, and by region.
By Type
- Positive Displacement
- Reciprocating
- Rotary
- Dynamic
- Centriugal
- Special Effect
By End-User
- Oil & Gas
- Water & Wastewater
- Power Generation
- Chemicals
- Food & Beverage
- Pharmaceutical
By Regions
- North America
- Asia-Pacific
- Europe
- Middle East & Africa
- South America
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About Market Research Future:
Market Research Future (MRFR) is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.
We at MRFR provide syndicated and customized reports to clients as per their liking. Our consulting services are aimed at eliminating business risks and driving the bottomline margins of our clients. The hands-on experience of analysts and capability of performing astute research through interviews, surveys, and polls are a statement of our prowess. We constantly monitor the market for any fluctuations and update our reports on a regular basis.
Contact Us:
Market Research Future
Office No. 524/528, Amanora Chambers
Magarpatta Road, Hadapsar
Pune - 411028
Maharashtra, India
+1 646 845 9312
Industrial Gearbox Market Revenue Growth Predicted by 2021-2027
Market Analysis
The industrial gearbox market is predicted to develop at a 4.34% CAGR between 2017- 2024, states the new Market Research Future (MRFR) analysis. An industrial gearbox, simply put, is a mechanical process for transferring power or energy between process units, machinery, and automation systems. It is placed at the junction of the power shaft and the motor.
Various factors are propelling the global industrial gearbox market share. According to the recent MRFR report, such factors include the growing need for efficient energy gearbox & clean energy sources, increasing automation in manufacturing technology, increasing adoption of industrial automation, technological advances in industrial sectors and robotics, and increasing disposable income. Additional factors adding market growth include growing investments in renewable power generation, demand for wind power, and increasing use of automation in the manufacturing sector.
On the contrary, the slowdown of major economies, technical challenges, high device cost, and the on-going COVID-19 impact are factors which may limit the global industrial gearbox market growth over the forecast period.
Regional Analysis
Based on the region, the global industrial gearbox market report covers the growth opportunities and recent trends across the Asia Pacific (APAC), North America, Europe, & the Middle East and Africa (MEA). Of these, North America will spearhead the market over the forecast period. Growth in industrial automation, the booming construction industry, especially in developing nations, and increasing technological advances are adding to the global industrial gearbox market growth in the region.
The global industrial gearbox market in the APAC region is predicted to grow at a fast pace over the forecast period. Huge investments made by private organizations and government in material handling, metal and mining, construction, and wind power, constant investments made in developing automation in India, China, and Japan, rising installation of wind power, and growing automation in manufacturing industries are adding to the global industrial gearbox market growth in the region.
The global industrial gearbox market in Europe is predicted to have notable growth over the forecast period. On-going advances in technology, growing adoption of artificial intelligence robots to reduce labor expenses, growing scope of applications, high sophistication level, and increasing focus to improve production efficiency are adding to the global industrial gearbox market growth in the region.
The global industrial gearbox market in the MEA is predicted to have steady growth over the forecast period.
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Key Players
Eminent contenders profiled in the global industrial gearbox market report include Eickhoff Antriebstechnik GmbH (Germany), Sumitomo Heavy Industries, Ltd (Japan), Zollern GmbH & Co. KG (Germany), Renk AG (Germany), Wikov Industry A.S. (Czech Republic), Rexnord Corporation (US), Nidec-Shimpo Corporation (US), General Electric (US), Nanjing High Speed & Accurate Gear Group Co., Ltd (China), Sew-Eurodrive (Germany), Emerson Electric Co (US), Schneider Electric (France), ABB (Switzerland), and Siemens (Germany).
Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global industrial gearbox market based on industry, torque, size, design, and type.
By type, the global industrial gearbox market is segmented into spur, worm, bevel, planetary, helical, and others. Of these, the helical type segment will lead the market over the forecast period.
By design, the global industrial gearbox market is segmented into angle axis, parallel axis, and others. Of these, the parallel design segment will dominate the market over the forecast period.
By size, the global industrial gearbox market is segmented into large (above 1 MW) and small (up to 55 KW).
By torque, the global industrial gearbox market is segmented into above 50,000 Nm and up to 50,000 Nm.
By industry, the global industrial gearbox market is segmented into marine, power generation, construction, material handling, wind power, and others. Of these, the wind power segment will have a major share in the market over the forecast period.
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About Market Research Future:
Market Research Future (MRFR) is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.
We at MRFR provide syndicated and customized reports to clients as per their liking. Our consulting services are aimed at eliminating business risks and driving the bottomline margins of our clients. The hands-on experience of analysts and capability of performing astute research through interviews, surveys, and polls are a statement of our prowess. We constantly monitor the market for any fluctuations and update our reports on a regular basis.
Contact Us:
Market Research Future
Office No. 524/528, Amanora Chambers
Magarpatta Road, Hadapsar
Pune - 411028
Maharashtra, India
+1 646 845 9312
