Increasing Demand for Art Supplies Expected to Support Market Growth, reports Fact.MR

Fact.MR delivers vital insights on the art supplies market in its published report, which provides global industry analysis, size, share, growth, trends for the forecast period 2019-2029. In terms of revenue, the global art supplies market is projected to grow at a CAGR of ~ 4% during the forecast period, owing to numerous factors, which Fact.MR offers through insights and forecasts in this report.

In the modern age, where the usage and dependability on technology has surged, the possibility of using traditional art supplies has dwindled. However, the reality is far from this assumption surrounding the art supplies market. As evident, in following the pursuit of art, experienced as well as novice have shown a tendency to explore their creative potential by using traditional art supplies. The possibility of replacement of art supplies with modern day technology is nowhere on the horizon. By observing common trends followed by consumers on social media, the orientation in the art supplies market is shifting towards usage of innovative products such as fluorescent colors. Companies in the art supplies market are trying to address these shifting consumer preferences, by introducing new product lines and restructuring their existing product lines.

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Sales of Art Supplies via Stationary Shops to Exhibit more than 4% Growth Annually

Fact.MR opines that sales of art supplies via stationery shops is more than 40% in the global art supplies market. The sale via stationary shops is going to dominate the art supplies market in comparison with other sales channels. Digital platforms amalgamating art supplies manufacturers and social media platforms, have become a tool for consumers as well as marketers to showcase and expand their art supplies merchandises, which in turn is likely to boost the art supplies market. The number of people engaging with the brands on social media and other digital platforms has increased dramatically. The shift in focus from inexpensive to quality products has been an important transition in Western countries that will boost the future market value of the art supplies market. To reinforce the brand loyalty in western countries, some companies have chosen to showcase their portfolio to be environmentally sustainable. This is evident with Société BIC SA, one of the leading players in the art supplies market that has formed a partnership with Loop to reduce the packaging waste involved in consumer products.

Preview Analysis of Global Art Supplies Market research report Segmented By Product Type (Pencil, Pen, Colors, Highlighter, Marker), By End-user (School, Residences, Industries, Offices, Independent Professionals, Other End-users), By Sales Channel (Stationery Shops, Departmental Stores, Supermarket/Hypermarket, Online Sales, Other Sales Channels), & by Region - https://www.factmr.com/report/1226/art-supplies-market

Developing Countries to Present New Opportunities in the Art Supplies Market

As is evident with the proliferation of art supplies manufacturers, companies have focused their efforts for expansion of distribution channels in developing countries such as India and Kenya among others. Companies have collaborated with local suppliers and distributors to push through barriers for sales. The strengthening of these sales channels in these developing countries will bolster the position of these companies in the art supplies market. The APEJ region is estimated to account for the highest market share in the global art supplies market in 2019 and is projected to increase massively during the forecast period. This remarkable growth is spearheaded by the rapidly growing economies in China and India.

Corporate Gift Giving to Open New Avenues for Growth

The corporate gifting sector has seen multiple changes in the recent years. Companies have shown to gift employees with useful products, usually consisting of stationery kits, to help facilitate their corporate and personal lives. The corporate gifting stationary is customized and branded for the company. The proliferation of this type of corporate gifting has immensely benefited the sale of art supplies in the corporate environments. Corporate gifting manufacturers are going in for customized solutions in pens, which has benefited art supplies market.

Terminal Tractor Sales Augment with Soaring Demand for Electric & Automated Variants, reports Fact.MR study

Fact.MR has recently published a new assessment titled “Terminal Tractor Market Forecast, Trend Analysis & Competition Tracking: Global Market Insights 2019 to 2029”, which meticulously discourses growth insights across the global terminal tractor market. According to precise insights, increasing fuel prices are escalating the demand for electric terminal tractors. It has been focused that features of electric terminal tractor centered at zero emissions and rationally less energy consumption makes it a striking option among diverse end user.

According to report specifics, several active manufacturers are capitalizing suggestively in research and development activities associated to electric terminal tractors which is likely to augment healthy over the forecast period. Based on revenue figures, the global terminal tractors market is projected to grow at 3.5% CAGR during the forecast period.

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As the report proceeds, the global terminal tractors market is dissected on the basis of fuel type, product type, ownership, end use, region and application. On the basis of fuel type, global terminal tractors market is further segmented into conventional fuel, electric and alternative fuel (CNG/LNG) terminal tractors. Interestingly, conventional fuel and alternative fuel segment (CNG/LNG) is further categorized as below 200 HP and above 200 HP. As per report insights, depending on better price to performance ratio, terminal tractors functioned by conventional fuel tends to emerge as the most lucrative segment in the global terminal tractors market. Similarly, the regional bifurcation focuses on the expanse of terminal tractors market across prime geographies including North America, Latin America, Europe, South Asia, East Asia, Oceania and Middle East & Africa.

Demand for Automated Terminal Tractors Receive Inspiring Thrust

With a purpose to enhance work efficiency together with reduction of human errors, the incorporation of new advanced technologies and automation is gaining pace. Due to the steadily rising international trade actions, the need for terminal tractors is further swelling, thereby, fueling the demand of automated type terminal tractors. In addition, digitalization wrapped around Internet of Things (IoT) and are predicted to strengthen the penetration of automated terminal tractors across the global market. Based on active perceptions, the automated terminal tractor segment is likely to expand ~2x faster as compared to conventional segment during the forecast period until 2029.

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North America Acquires Steady Market Share in Terminal Tractor Market

Focusing on the regional market expanse, North America terminal tractors market incorporate the investigation for Canada and U.S. due to high production of the automotive sector as well as large service sector posing prominent impact on the target market. Fact.MR unveils that, the U.S acquired a major portion in North America terminal tractor market sales. This development can be accredited to the presence of large industries across the U.S in comparison to Canada. Nevertheless, Canada is anticipated to register momentous growth by the end of the forecast period. On the other hand, East Asia is foreseen to experience fastest growth in the global terminal tractor market by 2029-end.

The final section of the report gives a deeper insight about the competitive landscape active in the global terminal tractor market. This portion highpoints major players including Kalmar Inc, Terberg Group B.V., REV Group Inc., Konecranes Oyj, Hoist Material Handling, Inc., MAFI Transport-System GmbH, Mol CY nv, Autocar LLC, Orange EV and TICO Terminal Services, which are carefully assessed on the basis of sales channel, product portfolio, company revenue share etc.

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About Fact.MR

Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.

Global Vibratory Rammer Market Forecast Covering Growth Inclinations & Development Strategies Until 2029

Fact.MR delivers key insights on the global vibratory rammer market in its published report, titled ‘Global Vibratory Rammer Market: Industry Analysis and Opportunity Assessment, 2019 to 2029’. According to report, in terms of revenue, the global vibratory rammer market is estimated to expand at a CAGR of 5.0% by value over the forecast period.

Growth in Road Infrastructure and Battery Operated Vibratory Rammers to Boost the Growth of the Vibratory Rammer market

Transportation infrastructure plays an important role in the development of economies as it primarily controls export and import sectors of every market. Global transformation of infrastructure industry is changing the appearance of developed as well as developing countries. In developing countries, big infrastructure projects are in progress, notably for the construction of railways, roads, ports and bridges, to strengthen the transportation backbone. For compacting the layers of different materials and to reduce the thickness of the respective layer the vibratory rammers are extensively utilized in road construction activities. Due to its small size and lightweight, it is used to repair road shoulders, highways, streets, and pavements. Availability of various types of vibratory rammers enables construction activity to progress smoothly even on smaller roads of developing countries.

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Hence, the developments in road infrastructure are likely to increase the demand for vibratory rammers, notably in developing countries. Recently due to increased awareness regarding pollution and depletion of fuels, the vibratory rammer market players had innovated and introduced the battery operated vibratory rammers which gives 100% emission free operation and helps to reduce the depletion of fuel.

Higher Demand for Road Patch Work Over New Construction in Developing Economies

To gain higher business profitability, especially in emerging economies, road construction contractors tend to prefer low quality materials for construction of new roads. This practice leads to quicker damage of highways and increases the need for road patchwork. Poor quality road conditions can lead to more number of accidents. This includes uneven road surfaces, exposed rebar, potholes, sinkholes, broken concrete, and road cracks. The increase in the number of road accidents has grabbed government attention towards the proper maintenance of roads. The government in developing economies are funding more towards routine maintenance of highways, roads and public transportation.

To avoid massive investment in overall road construction, the governing bodies in the emerging economies are preferring road repairing activities that include patchwork. The rise in road patchwork activities will subsequently boost the demand for vibratory rammer in the global market.

Europe Remains in the Vanguard of the Vibratory Rammer market

The vibratory rammer market is analyzed across primary regions which includes North America, Latin America, Europe, East Asia, South Asia, Middle East & Africa, and Oceania. Incessant rise in road traffic will require regular construction and improvement of roads and highways, in both urban and rural areas, thereby fueling the demand for vibratory rammers. In 2018, Europe region held about more than 30% of share in the global market and is expected to grow at a CAGR of 4.6% by value over the forecast period, due to growing constructional activities over there. The report assesses trends, driving the growth for vibratory rammer market in each market segment on a global level and offers potential takeaways that proves substantially useful for other potential market entrants in the vibratory rammer market.

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The enhancement and establishment of modern roads and development in emerging economies such as India and China are major growth drivers of global vibratory rammer market. Realizing the importance of road maintenance is proving to be very effective in decreasing the number of accidents, indirectly driving the global vibratory rammer market during the forecast period.

Truck Refrigeration Unit Market Expected to Deliver Dynamic Progression Until 2029

In light of the dire need for the proper and safe transportation of highly temperature-sensitive products, such as fruits and vegetables, meat and sea food, and dairy products among others, chillers have been witnessing a significant demand over freezers. Growing agriculture sector, specifically in countries like India is further underpinning the adoption of chillers, which the Fact.MR study estimates that is likely to exhibit the incremental opportunity of ~510 Mn between 2019 and 2029. The demand for chillers has been primarily driven by the rapidly growing global meat production, which is anticipated to be 16% higher in next five years. As per the study, higher meat and sea food production will create an increased demand for refrigeration transportation, which in turn is projected to create innumerable opportunities for the market players in the forthcoming years.

According to a recent Fact.MR study, ~97,969 truck refrigeration units were sold in the 2018, and sales are highly likely to expand 1.5X during 2019 to 2029. The use of truck refrigeration units for the transportation of fruits and vegetables is envisaged to account for a substantial market share in 2019, and will be accountable for ~40% of the overall sales through 2029. 

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This Fact.MR research study offers a long-term perspective of the truck refrigeration units market for the duration 2019 to 2029. The truck refrigeration units market is envisaged to register a volume CAGR of ~4.5% through 2029. The Fact.MR study opines that the demand for highly perishable foods has been expanding at an unprecedented pace, which in turn continues to hard press the food and beverage companies to strengthen their product cold supply logistics/chain. This has led to an increased demand for proper transportation refrigeration infrastructure, while creating a window of opportunities for the market players. 

The study indicates that the light duty vehicles will continue to remain the bedrock of sales for truck refrigeration units, owing to the increasing demand for smaller size vehicles for in-city product transportation. As per the Fact.MR analysis, light-duty vehicles accounted for ~46% market volume share in 2018, and their sales are highly likely to reach 46,862 units in 2019. As per the study, this steady growth in the adoption of light weight duty vehicle falls in line with the rising population, coupled with smaller lane size, specifically in developing regions. Though the demand for light weight duty vehicles continues to pick pace, the medium size trucks are also estimated to grow at volume CAGR of 4.4% during the foreseeable period. 

As the world continues to focus on reducing carbon-emission, the automakers are increasingly developing electric vehicles to cut emissions significantly. In view of this shift in development and preference, a large number of manufacturers of truck refrigeration units’ are focusing on electric variants. Moreover, as per the Fact.MR analysis the adoption of vehicle powered truck refrigeration units continues to grow at a steady pace, whereas high cost diesel powered variants are increasingly losing their attractiveness. The adoption of vehicle powered truck refrigeration units reached ~61,129 units in 2018, and is likely to account for ~60% market share in 2019.

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Steady Market Growth Ahead in Developing Regions 

The Fact.MR research study indicates that the rapidly proliferating agriculture sector in the developing regions has been creating an increased demand for proper transportation of temperature-sensitive fruits and vegetables. As per the study, the fruits and vegetables sector is envisaged to remain a considerable mine of opportunities for stakeholders that are looking forward to expand their business and extend their reach in the rapidly developing regions. In East Asia, China is projected to be the most attractive country through 2029, and accounted for ~70% regional market share in 2018. The traction for truck refrigeration units continues to pick pace in line with the rapidly growing cold chain industry and increasing demand for quality-ensuring packaged foods. Additionally, truck refrigeration units are also witnessing wide adoption for the accelerating applications in the pharmaceuticals industry, which in turn continues to promise lucrative growth opportunities for truck refrigeration units market in the future. 

Global Terminal Tractor Market Inclined to Deliver Positive Growth Results Until 2029

Fact.MR delivers key insights on the terminal tractors market in its published report, titled “Global Terminal tractors: Industry Analysis and Opportunity Assessment, 2019–2029”. In terms of revenue, the global terminal tractors market is foreseen to grow at a CAGR of 3.5% across forecast period, owing to numerous factors, about which FACT.MR offers thorough insights and forecasts in this report.

The global terminal tractors market is classified on the basis of fuel type, product type, end use, ownership, application and region. In terms of fuel type, global terminal tractors market can be further classified as conventional fuel, alternative fuel (CNG/LNG) and electric terminal tractors. The conventional fuel and alternative fuel segment (CNG/LNG) can further classified as below 200 HP and above 200 HP. Owing to the better price to performance ratio, terminal tractors operated by conventional fuel appears to be the most remunerative segment in the global terminal tractors market.

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The segment is foreseen to create overall incremental opportunity of over US& 61 Mn in global terminal tractor market by the end of the forecast period. Increasing fuel prices and stringent emission norms are some of the factors fueling the demand of electric terminal tractors. Electric terminal tractors is anticipated to register fastest growth over the forecast period. Furthermore, below 200 HP sub-segment remains the most preferred terminal tractor.

On the basis of end use the global terminal tractors market is further segmented as port terminal applications, intermodal facility and other application. The port terminal segment is to account for maximum share and expected to remain dominant over the forecast duration. Collectively, intermodal facility and other segment is foreseen to create incremental opportunity of around US$ 111.9 Mn by the end of forecast duration. In order to boost the work efficiency along with reduction of human errors, the adoption of automated terminal tractors is foreseen to auger well in the global terminal tractor market. The automated terminal tractors is foreseen to grow twice as fast as of the conventional segment.

The global terminal tractors market is divided into seven geographies: North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa. North America appears to be the dominant among all the region in the global terminal tractor market. East Asia is foreseen to witness fastest growth over the forecast period in the global terminal tractor market.

This report assesses developments, enforcing the evolution potential of terminal tractors market on an international level and proposes distinctive insights and understandings that prove to be noticeably valuable for other budding market competitors in the global terminal tractors market

The North America terminal tractors market incorporates the analysis for Canada and U.S. owing to the high production of the automotive sector and large service sector have significantly boosted the terminal tractor marker in the region. US held a major share in North America terminal tractor market sales. This is due to the presence of large industries in the US as compared to Canada. However, Canada is foreseen to register significant growth by the end of the forecast duration. The Europe terminal tractors market incorporates country level review and analysis for France, United Kingdome, BENELUX, Germany, Spain, Italy, Russia and Rest of Europe.

Significant increase in seaborne trade and seaport activities in the region are some of the prominent factor bolstering the demand for terminal tractors in the region. Owing to the above mentioned facts Port terminal segment holds over 80% value share in the region. Europe is foreseen to be the second largest market for terminal tractors market and expected to grow by gaining 73 Basis points by the end of the forecast period. Though the terminal tractors market for Italy is estimated to grow by gaining over 254 BPS in the foreseeable future. East Asia hold significant value share and foreseen to grow with an above average growth rate over the forecast period. Increasing international trade and port activities are some of the prominent factors fueling the demand for terminal tractors in the region. South Asia terminal tractors market incorporates study for countries like India, Malaysia, Indonesia Thailand and rest of South Asia. The region is foreseen to create incremental opportunity of US$ 30 Mn by the end of the forecast period.

Terminal tractors market for Middle East & Africa includes analysis for GCC group of countries, Turkey, North & South Africa and Rest of MEA. Among the above mentioned countries the terminal tractors market for GCC countries appears to be dominating over the forecast period. Terminal tractors market for GCC countries is foreseen to create incremental opportunity of over US$ 3.5 Mn by the end of the forecast period.

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In this report, we have examined different strategies accompanied by prominent terminal tractors manufacturers, concerning mergers and acquisitions, creating new marketing techniques, enhancing their product portfolio. The ‘Competitive Landscape’ has been incorporated to give report readers with a dashboard representation of prominent terminal tractors manufacturers.

Key players operating in the global market for terminal tractors, include Kalmar Inc, REV Group Inc., Terberg Group B.V., Konecranes Oyj, MAFI Transport-System GmbH, Hoist Material Handling, Inc., Mol CY nv, Orange EV, Autocar LLC and TICO Terminal Services.

Global Rotary Dryers Market Scenario Indicates Prime Trends & Growth Parameters: 2019-2027

This Fact.MR study offers a long-term outlook of the rotary dryers market for the period, 2019 to 2027. The rotary dryers market is projected to record a volume CAGR of nearly 3.5% through 2027.According to the study, nature of the rotary dryers market remains highly consolidated, with leading players accounting for over 60% shares. Large-scale integrated production technologies, along with extensive production capacity and strong global distribution, are key strengths of leading players that have supported their supremacy in the rotary dryers market. Emerging players in the rotary dryers market are focusing on increasing their production capacity while expanding their regional occupancy, to remain competitive. 

According to a new Fact.MR report, global sales of rotary dryers were close to 390 units in 2018, and are estimated to log a 3% Y-o-Y growth in 2019. A plethora of aspects influence the rotary dryers industry, ranging from efforts of players to develop products with greater thermal efficiency through recycling of exhaust gases, to growing demand from process industries where reliability and lower sensitiveness to fluctuations in product size are key imperatives. 

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The report opines that continuous rotary dryers will remain preferred among end users, with sales in 2018 estimated at approximately 270 units. Elimination of consecutive drying requirements per material load, involved in batch drying processes, and relevant operational cost, have advocated the adoption of continuous rotary dryers among industries. Additionally, advances in continuous rotary dryers such as integration of multiple functions, which range from granulation and coating, to cleaning and classifying, have been favoring the popularity and sales of continuous rotary dryers in recent years. 

According to the report, although the drying technologies have been an essential requirement in the manufacturing processes, the industry is closing in on its maturity in terms of application. However, the proliferation of the medical marijuana industry has been paving opportunities for the manufacturers of industrial dryers, which in turn has rubbed off on the development and adoption of rotary dryers to a significant extent. As the demand for industrial hemp drying equipment continues to surge, the rotary dryers industry will continue to witness a sustained growth. 

APAC Leads the Way in Rotary Dryers Landscape 

The study finds that APAC continues to spearhead the rotary dryers industry in terms of unit sales, accounting for over 30% sales. Significant growth in the food & beverage industry, backed by rising demand for packaged & processed food in the developing nations, have underpinned the demand for rotary dryers in the region. The regional players are currently focusing on enhancing key attributes of the rotary dryers such as improved flow conditions, and better mixing of materials, in a bid to ensure greater drying speed. 

The adoption of rotary dryers in various industrial processes continues to grow unabated, as leading market players invest in the development of solutions that feature enhanced thermal resistance. Additionally, the emphasis on the betterment of the industrial infrastructure has been intensifying across economies, which has directly influenced the demand for various industrial equipment & technologies. This, coupled with the government initiatives for accelerating growth of the manufacturing sector, will continue to favor the sales of rotary dryers. 

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The report finds that stringent regulations imposed on the use of industrial equipment to curtail the associated emissions have been confining adoption of various industrial drying technologies. High cost of new equipment has also been a major concern among end-use industries, which has led small-scale contractors to opt for rental equipment. However, favorable government guidelines pertaining to industrial processes alongside the sustainability-driven efforts of the industry, has upheld new equipment sales in the rotary dryers market. 

Reach Stacker Market Expected to Achieve a Sustainable Growth Through 2019-2029

East and South Asia continue to lead the growth of the reach stacker market, while accounting for ~65% of the overall sales in 2018. This falls in line with the fact that marine routes have been and continue to remain the significant mode of conveyance for goods in the form of containers, dry bulk, and liquid bulk and roll onroll off (Ro-Ro) type cargos and passengers in the region. As per the study, countries such as China and India will continue to remain a fairly attractive market for stakeholders, owing to the presence of several key ports. Growing government initiatives focused on pushing the efficiencies and updating inland port systems are highly likely to contribute to a significant growth in the reach stacker market.

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The latest Fact.MR business intelligence indicates that the reach stacker market witnessed sales of 1,364 units in 2018, which are estimated to grow further by ~7% in 2019, owing to the strengthening demand for container handling equipment. Increasing traction for port material handling equipment, coupled with rapid expansion of growing number of sea ports, in line with the proliferating sea borne trading continues to augment market growth.

Rapid expansion of intermodal barge shipping to the smaller as well as canalized waterways has been creating a considerable demand for a water reach stacker with tri-modal handling functionality- road, rail and water, finds Fact.MR. In the last couple of years, port activity and cargo handling of containerized and bulk has grown significantly, while driving the need for an increased development of improved and safer port infrastructure to suffice the steady pace of seaborne trading. 

Gains Remain Concentrated in Sea Ports 

Deployment of reach stackers continues to grow significantly across the increasing number of sea ports worldwide, which contributed to the sales of 973 units in 2018, while accounting for 70% of the overall market sales. This can be attributed to the fact that trade through marine ports contribute to ~80% of the international trade volume and ~ 70% of the total trade value. Though the sea port applications of reach stacker continue to accelerate rapidly, demand from yards/landslide is also growing, however at a much slower pace. An increased number of warehouses and factories are also adopting reach stackers, owing to the rapid industrial expansion in several countries, which in turn is highly likely to pace up the lucrativeness of market in the years to come. 

Hybrid and Electrical Powered Machinery Growing Lucrative

As per the Fact.MR study, though the demand for internal combustion engine based reach stackers has been growing over the years, and witnessed sales of 1,124 units in 2018, sales of hybrid variants are also likely to pick pace. This falls in line with the growing manufacturer shift towards integrating advanced propulsion system into their reach stacker models. Eco-friendly variants are also anticipated to witness considerable demand in the forthcoming years due to the continuing global tension over the carbon emission from the industrial operations.

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Amid the growing emission concerns and high operational costs of conventional reach stackers, several market players have placed their focus on manufacturing customized, hybrid and electric variants. For instance, a leading market player- Konecranes has recently launched a hybrid reach stacker with improved operator performance and maintenance-friendly solutions to boot. Such growing innovation-driven initiatives of market players have been estimated to lead the way to the future of container handling.

Process Chillers Market Investigation Reveals Enhanced Growth During 2019-2029

Global sales of process chillers reached over ~320,000 units in 2018, as disclosed by the new research study by Fact.MR. According to the analysis report, the process chillers market is foreseen to grow by ~4.5% YoY in 2019, primarily influenced by the demand in process cooling in plastics and food & beverages industry in the global landscape.

According to the study report, growing emphasis on better price to performance ratio even for the higher capacity applications in various end-use sectors is expected to contribute to the pace-up of the process chillers market by the end of 2029. Growth in plastics and food & beverages industry along with product innovations from the manufacturer side, is foreseen to boost the demand for process chillers in 2019 and beyond.

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Growing Demand for Process Cooling in Various End-use Industries to Create Noteworthy Opportunities

According to the study, the present development trend of the process chillers market has conspicuously affected the rising number of various end-use industries such as plastics & processed food industries and the rising demand for efficient industrial process cooling across the globe. End users of process chillers are under constant pressure to reduce operational costs, maintain quality and increase productivity. This pressure reaches up to the value chain, wherein manufacturers of process chillers are constantly engaged in R&D to accommodate consumer demand. Increasing demands for efficient industrial chillers of process cooling technology, brings advancement and innovation in various end-use applications. 

Likewise, process chillers applications by product types are expected to grow significantly during the forecast period attributed to the expanding preferences for customized cooling solutions among various end-use industries. Rising demand for superior process chillers for large scale industrial cooling applications over conventional cooling processes across the industries has made lucrative opportunities for process chillers in past couple of years. 

East Asia to Acquire a Large Chunk of the Market Share 

The study also found that the East Asian region had grasped more than 32% market share in the global process chillers market in 2018, and this share is foreseen to grow by a considerable rate, affecting the East Asia market to create an incremental opportunity of over US$ 2.5 Bn by the end of 2029. On the other hand, South Asia is anticipated to showcase above average opportunities for the growth of the process chillers market in 2019 and beyond. The process chillers market in the region is expected to benefit from various factors, such as rapid urbanization and industrialization, leading to increasing process manufacturing activities and manufacturers in these countries. This is expected to bolster the demand for process cooling, which in turn increases the demand for process chillers for various end-use industries. 

Prominent Process Chillers Manufacturers to Make Significant Investments in Asian Countries

Increasing demand for efficient process chillers in emerging end-use industries and across countries in East Asia and South Asia regions, respectively, is driving prominent manufacturers to tactically enter the emerging market with an aim to target untapped opportunities in these regions. Manufacturers in mature markets, such as North America and Europe, are targeting emerging markets in order to gain more profitability by increasing their sales. Key market players in the process chillers market are focusing on product development and collaboration. Vendors in the process chillers market are focusing on cost-effective production of process chillers and bringing innovation to industrial cooling methods to meet the changing industrial requirements. 

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This study underlines the key future prospects in the process chillers market and finds that the market would grow by a value CAGR of ~5.2% over the forecast duration.

Milking Machine Market Estimated to Record Highest CAGR during the forecast Period: 2019-2027

According to a recent Fact.MR study, the global sales of milking machines were upward of 10 thousand units in 2018, and are estimated to record 7% Y-o-Y growth in 2019. Price volatility in the dairy industry shows no signs of abating, however the global milk production has been on an upward spiral in the recent past. Additionally, there has been significantly higher demand for milking machines among dairy farmers in this fiercely competitive landscape.

The Fact.MR study opines that the demand for cow milk is steadily exceeding the global supply, and eventually milking machines will replace labor-intensive operations in cow milk businesses. Leading manufacturers in the milking machine industry are increasingly focusing on small-scale businesses that are engaged in cow milk production, as local dairy businesses are primary suppliers to households in most developing countries.

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The report finds that that cow milking machines accounted for nearly 80% sales in 2018. According to the International Farm Comparison Network (IFCN), outlook on the cow milk alludes a 20% rise in demand in the near future, whereas an average dairy farm would require to boost output by over 50%. In 2017, the average milk yield per cow reached 7 tons in Europe alone, and the global demand for cow milk continues to surge.

Stakeholders Vie to Tap Potential Opportunities in APEJ

The study finds that Europe remains the most lucrative market for milking machines, accounting for over 30% sales. However, APEJ is expected to emerge as an attractive region for stakeholders in the milking machine market to tap, with the rapid growth of the dairy industry in the region. It is highly likely that gains from milking machine sales in the APEJ will outpace those from the European Union (EU), alongside the rapid surge in milk production.

According to the study, growth of the milking machine market in the APEJ is mainly attributed to two factors—a dramatic upsurge in the milk production in developing Asian nations, and the negative impacts of the 2018 European drought and heat wave on its dairy industry. The EU-drought of 2018 caused lower milk yields in the region, causing the EU milk prices to soar. This is restricting European dairy businesses from adopting expensive milking machines in order to maintain competitive milk prices in the region.

A key trend gaining utter traction in the milking machine market is growing demand for fully automatic variants, as the requirement for time-effective production and enhanced productivity continues to intensify among dairy farmers. The efficiency in milking multiple animals in a single go, which increases the milking efficiency while reducing the dependency on labor and leading to quality improvement, continues to advocate adoption of automatic milking machines in the dairy industry.

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The study opines that the milking machines will witness burgeoning demand in the foreseeable future, as improving business profitability with cost-competitive and tech-driven dairy farms is becoming a desideratum. Dairy businesses are more inclined towards investing in automatic milking machines in lieu of manual milking techniques to attain higher milk yields per labor hour. Increasing inclination of dairy farmers towards tech-driven investments in cutting edge robotic milking machines with tightening labor market will augur well for growth of the milking machine market.

This Fact.MR study offers a long-term perspective of the milking machine market during the period, 2019 to 2027. The milking machine market is projected to record a CAGR of approximately 8% CAGR through 2027.

Industrial Battery Charger Market Likely to Inflict Positive Growth Trend During 2018-2028

According to a recent study of Fact.MR, ~1,400 thousand units of industrial battery chargers were sold in the year 2018. In addition to the constant surge in uninterrupted operational requirements from a multitude of end users, the growing criticality of quick charging batteries will remain the key factors complementing industrial battery charger market growth in coming years. Marked penetration of intelligent or smart industrial battery chargers will be a notable trend in market over the coming years, according to the study.

As indicated by the study, mounting demand for smart grid storage will remain a strong booster to industrial battery charger sales. Additionally, a visibly strong surge in adoption of sealed lead acid (SLA) industrial batteries, which are selling high for their compact size and superior capabilities suitable for back-up and cycling applications, will continue to benefit sales of industrial battery charger.

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In 2018, the combined demand for industrial battery charger from manufacturing and energy & power industries, along with railways, accounted for ~70% of the sales volume. However, the study indicates that growing dependency on oil & gas energy storage is supplementing investments made in lithium batteries, which synchronize with the sustainable energy storage trend, and thus is likely to create opportunities for manufacturers of lithium-based industrial battery chargers.

Fact.MR’s report opines that the growing sales of electric forklifts across warehouses have been one of the key determinants spurring adoption of industrial battery chargers. Aggravating demand for simple and efficient power solutions with built-in intelligence, across multiple end-use segments, such as IT & telecom industry, data centers, mining, manufacturing, railways, oil & gas, and energy & power, is further widening the application rage of industrial battery chargers.

Preference for Energy-efficient Battery Technologies Shaping Innovations

The industrial battery charger industry is undergoing a sea change, particularly in terms of charging capabilities. According to the report, transforming battery technologies and innovations in industrial infrastructure are creating favorable ground for adoption of intelligent battery chargers that target industrial applications, thereby, assisting growth of the industrial battery charger market.

The study also mentions that the heightening popularity of energy-efficient and cost-effective technologies, such as ferroresonant and SCR technology, over hybrid and high-frequency battery variants, will significantly contribute towards the growth of industrial battery charger market. Extensive inherent advantages of these energy-efficient technologies, in terms of voltage regulation, low operation costs, easy maintenance, and high reliability, will continue to account for high preference. The subsequent rise in demand for high-efficiency power solutions for different industrial operations is set to augur well for the sales of industrial battery chargers. 

IT and data centers are anticipated to remain the prominent end-use sector and will thus hold a fourth of global sales volume of industrial battery chargers, in coming years. High dependency of IT and data centers on backup power has been creating lucrative opportunities in the industrial battery charger market. With evident profitable opportunities, APEJ will remain the leading market for industrial battery charger manufacturers. While APEJ’s market attractiveness is attributed to spectacular expansion of the IT & telecom industry, that of developed regional markets has been traditionally banking on the resurgence of oil & gas industry, which is among the prime end-use consumer of industrial batteries.

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This Fact.MR study presents a long-term perspective of the market for industrial battery charger for the period, 2018 to 2028. The industrial battery charger market is anticipated to register a CAGR of ~8 % through 2028.

Industrial Air Preheater Market Revenue Growth Predicted During 2019 to 2029

Global sales of industrial air preheater reached ~ 450 units in 2018, as disclosed by the new research study by Fact.MR. According to the report, the industrial air preheater market is predicted to grow by ~3.2% YoY in 2019, primarily influenced by the prominent players investing in manufacturing operations in the global industrial air preheater landscape.

According to the research, increasing center of attention on new developments and demand in various end use sectors is subsidized to enhance revenue generation of industrial air preheater market through 2029. Coal-fired plants and other industries’ expansion around the globe, will also continue to provide a stimulus to the sales of industrial air preheater in 2019 and further.

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Industrial air preheater is witnessing a significant growth in demand. The regenerative type of air preheater dominates the market, as it is used in thermal power plants and chemical industries where the large capacity boilers are installed. Besides, the regenerative type of industrial air preheater offers easy replacement of components and weighs significantly more than the recuperative industrial air preheater. Increasing demand for fuel has influenced an exponential growth of petrochemical industries, which is foreseen to create ample opportunities for industrial air preheater market in the years to come.

According to the Fact.MR, end use sectors will continue to markedly prefer rotary type regenerative industrial air preheater, with worldwide sales poised to reach ~350 units in 2019. Demand for the recuperative type industrial air preheater is estimated to reach around 90 units by the end of 2019. Demand for regenerative type industrial air preheater will majorly be driven by growing coal-fired plants in developing nations. Moreover, industrial air preheater finds a wide range of application in waste heat boiler, flue gas boiler, and other boilers, thereby favoring the manufacturing sectors worldwide.

Key Market Players to Make Treble Investments in Asian Countries

Electricity generation by coal will continue to sustain high demand for industrial air preheater, finds the report. In the thermal power plants landscape, large capacity boilers are used and as a part of boiler accessories, air preheaters are installed, such as rotary, regenerative industrial air preheaters. On account of advantages such as payback period being very short and increased combustion rates of the boiler, regenerative type industrial air preheaters have marked their space in the coal-fired plants and chemical industries.

According to the study, growth opportunities for the industrial air preheater market players are triggering the pace in Asian countries, owing to profound growth of the regional industrial ecosystem such as Thermal power plants, chemical industries, cement industries and others. Newer opportunities are blooming in the East Asia industrial air preheater market and are set in motion by the growing electricity, fuel, and oil & gas demand. 

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Fact.MR’s business perception is also focusing on the innovative insights into the competitive landscape of industrial air preheater market along with highlights of the manufacturers’ differential blueprint. Key players in the industrial air preheater market will continue to draw upon the various R&D for offering new products in their existing portfolio. For instance, Howden group limited- an industrial product manufacturing company with L&T is innovating new quad-sector type regenerative industrial air preheaters to the latest technology standard which brings a wide range of benefits like- improved efficiency, greater reliability, reduced operational cost, and optimized performance.

This study underlines the key future prospects in the industrial air preheater market and finds that the market would exhibit growth at a value CAGR of ~3.7% during forecast period.

Gear Measuring Machines Market Focusing on Product Innovation and Advanced Features Through 2019-2029

Gear measuring machines for automotive applications are projected to be the most important feature of the gear measuring machines market. The market is growing at a significant CAGR of ~3% during the forecast period. Fast paced production of efficient and advanced power transmission units is propelling the demand for the advanced gear measuring machines with a shorter time cycle in the global market.  The rise in the automotive production and sales enhances the market for gear measuring machines globally. Apart from automotive applications, wind power generation and metal & mining sectors also appear to be significant in the market for gear measuring machines. The wind power generation sector is growing at a relatively high pace as compared to other applications. It is projected that the market size of gear measuring machines for wind power generation will reach ~ US$ 71 Mn by 2029 in the global gear measuring machines market. 

The global market for gear measuring machines appears to be consolidated in nature as prominent players have their presence in regional as well as global markets. Manufacturers are continuously trying to bring innovative solutions as per the demand of different applications. There is a comprehensive perception among manufacturers of gear measuring machines that if they intend to remain competitive in such a consolidated market, they need to secure clients for the long-term.

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Gear measuring machines come with various software packages, and the cost of the software varies based on manufacturers’ need. The design for customized software requires a lot of R&D, which in turn, increases the cost of overall machines. This is because the cost of machines increases as per the level of accuracy. Recent developments the gear inspection industry has witnessed is CMM (coordinate measuring machines) type inspection machines with gear inspection capability. The cost of CMM is far lesser than gear measuring machines. Therefore, small manufacturers who require only basic gear inspection should go for CMM. However, CMM alone is not suitable for gear manufacturers with higher production capacity because of its low throughput and accuracy level. Due to above facts of advancements in CMM, net volume sales could be affected for small manufacturers. 

Electric Vehicles Adoption to Impact the Gear Measuring Machines Market Growth 

Electric vehicles make use of gears even though the number of gears will be less as compared to conventional vehicles. Increased penetration of electric vehicles could hamper the overall gear measuring machines market growth. However, at present, the number of electric vehicles are still less as compared to conventional and hybrid vehicles. Collectively, conventional and hybrid vehicles have ~96% share in the overall automotive industry. Owing to growing tailpipe emissions and rising fuel prices, electric vehicles are witnessing an astonishing growth. The increasing adoption of electric vehicles is foreseen to positively impact the gear measuring machines market in the automotive sector in the foreseeable future. However, the impact on the overall market will be low. 

Software Innovations to Boost the Growth of the Market 

Software is one of the most important factors that differentiates machine manufacturers. Manufacturers are constantly working to optimize the software application to make the inspection faster and precise, with tons of additional features that increases the throughput by decreasing the cycle time. Some manufacturers of gear measuring machines use window-based OS. However, due to its low cost, they also use Dos-based application software. A good application software allows to carry out a wide range of evaluations in accordance with various national and international standards in less inspection time. In addition, it also allows the addition of numerous special features to the machines as per customers’ demand and requirements.

Direct sales channel holds ~56% share in the overall gear measuring machines sales. However, online or indirect sales channel is growing at a relatively fast pace as compared to direct sales, owing to increasing online presence of industrial machinery manufactures. The online or indirect sales channel is estimated to grow at a significant CAGR of ~4% in terms of value in the gear measuring machines market over the forecast period. 

China to Witness a Positive Growth in the Gear Measuring Machines Market 

Europe is the key region for productions and sales of gear measuring machines. Key countries and group of countries in the Europe gear measuring machines market are Germany, France, Spain, Italy, UK, Benelux, and Nordic. In China, the total sales of vehicles in the past year reached ~28 million units. In terms of vehicle production, China is the largest market in the world. Increasing purchasing power of Chinese is also bolstering the multiple opportunities for manufacturers of gear measuring machines in the region. Increasing demand for vehicle in developing economies will boost the growth of the gear measuring machines market over the forecast period. The global market for gear measuring machines is estimated to grow at a significant CAGR of ~3%, and will represent a total incremental opportunity of ~US$ 150 Mn in terms of value by the end of 2019. 

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Competition among Existing Players and Strategic Developments Will be the Main Strategies in the Gear Measuring Machines Market 

The market for gear measuring machines is estimated to grow considerably over the forecast period as contenders in the global market are rising and competition with existing players is estimated to increase in the next ten years. Manufacturers in the gear measuring machines market are likely to expand their footprints through strategic developments such as product launches, product innovations, expansions, collaborations, and acquisitions. For instance, in 2018, Gleason inaugurated New Technology and Manufacturing Center in Studen, Switzerland. The new fully-advanced manufacturing facility extends the company’s machine assembly capacity by 60% and office space by 30% as compared to previous premises. 

Global Fuel Storage Containers Market Steady Growth to be witnessed by 2018 to 2028

The Fact.MR report offers a long-term outlook of the fuel storage containers market for the period 2018 to 2028. The fuel storage containers market is projected to record a CAGR of nearly 4.0% through 2028. According to a recently published Fact.MR report, sales of fuel storage containers market are estimated to exceed 79,300 thousand tons in 2019. The fuel storage containers industry has been significantly influenced by the pervasive developments in trade, wherein profound economies - ensued from ‘gigantism’ in ship sizes - play a vital role.

Economies of scale, in combination with the intense competition among carrier, in the shipping industry have considerably reduced the cost of transportation, thereby complementing growth of trade activities worldwide. The upsurge in the cross-border trade activities has further driven the demand for rigid packaging solutions, such as industrial drums and intermediate bulk containers.

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The study highlights the influence of novel technologies, such as RFID tags, on the adoption rate of fuel storage containers. As stakeholders in the transportation and logistics industry continuously eye to gain early-mover advantage in automation, RFID tags-equipped fuel storage containers are becoming a key imperative for safeguarding their bottom lines, and enabling traceability of assets.

The study opines that containers continue to endure as the lifeblood of fuel transport worldwide, as the ubiquitous, modular, simple containers account for a significant portion of sea- borne fuel transport. Although, adoption of fuel storage containers continues to grow in abundance, challenges prevail in terms of precarious financial nature, and the awareness of sustained value creation among fewer industry stakeholders.

Uncertainties in Scalability and Value-Chain Integration to Impact Fuel Storage Container Sales

According to the study, the fuel storage containers industry is also impacted by an array of disruptive forces such as the trends of digitization and automation, along with the shifting political and economic landscape across the globe. Uncertainties in areas of value creation, in terms of scalability, value-chain integration, and flexibility, are likely to influence growth of the fuel storage containers market in the foreseeable future.

Emerging players in the fuel storage containers market are leveraging the digital technology, analytics, and data, for optimizing the value chain, alongside the transformations driven by the digital reinvention and innovation. These players continue to strive to bring value-added services to customers, while preparing for contrasting outcomes to stay ahead of change. The study alludes rapid growth in trade activities, and opportune potential of manufacturing and export of fuel storage containers in developing markets.

Laws Regarding Strict Filtration of Quality to Challenge Fuel Storage Container Sales

The study senses a potential hurdle in the growth of fuel storage containers market as rental networks gain ground, amid shifting preferences of end-users toward owning fuel storage containers on a rental basis, and saving a large amount on the purchase of new containers. Government regulations have made it mandatory for storage containers to qualify strict quality filters, which in turn, continue to take a toll on their production agility. The incompetence of manufacturers to adhere to the rules further narrows their expansion windows and impacts the growth of fuel storage containers market.

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The study finds that North America will continue to persist as a leading fuel storage containers market with a plethora of drivers at play. Being a mature packaging industry, the region remains lucrative for fuel storage containers sales as key strategies adopted by fuel storage containers manufacturers have enabled them to gain a wider customer base. Economic vigor of customers in the region has further led the inclination towards recreational activities, which in turn has resulted in a marked rise in demand for efficient storage facilities.

Forestry Machinery Sales Influenced by Improved Technological Arrangement During 2018-2028

The study opine that players will witness modest success rate in developed markets, where ROI are expected to be average while the competition remains high. In contrast, developing markets will present relatively greater ROI as well as success rate for the players in the agricultural and forestry machinery market, as these regions witness growing adoption of precision forestry and mechanized practices, while competition remains comparatively low compared to developed markets. 

According to a new Fact.MR study, over 12 million units of forestry machinery were sold in 2018, and sales are expected to record over 3% Y-o-Y growth in 2019. The forestry machinery industry has been upheld by a slew of factors, which span from growing adoption of mechanized practices in forest harvesting, to rising trend of leasing & renting services and integration of GPS systems into the machinery. 

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This Fact.MR report provides a long-term outlook of the forestry machinery market for the period, 2018 to 2028. The forestry machinery market is projected to record a CAGR of 5% through 2028.

The impact of digital technology on forestry is evident, with the paradigm shift from animal-powered to more mechanized processes. Global operators in the forestry industry are pioneering use of advanced technologies for enhancing the management results, which is emerging as the ‘precision forestry’ trend worldwide. Plantation forestry operators with long-track record of continuous improvement and innovation are likely to gain the first-mover advantage from precision forestry practices in the near future. 

The study opines that new technologies, including unmanned aerial vehicles (UAVs) and LiDAR, are witnessing pervasive adoption in the forestry machinery industry, which have been helping operators in real-time surveillance and mapping activities. Advances, trails, and adoption of technologies in the forestry landscape show no signs of abating, involving activities in the overall value chain – from nurseries and plant genetics to delivery of wood to energy plants, pulp mills and saw mills. 

Advanced genetic improvement best suited genetic profile for plants in terms of end-use, and automated nurseries for raising plants under optimum conditions for good health and growth, are some of the key practices, which have significantly underpinned the adoption of forestry machinery among harvesters worldwide. It is highly likely that technology will change the face of forestry machinery market in the upcoming years, with key solutions such as IoT taking the landscape by the storm. 

Attractiveness of Developed Markets for Forestry Machinery Manufacturers to Endure 

According to the study, volume sales of forestry machinery remain high in Europe, closely followed by North America – these two regions collectively accounting for over 70% sales. Forestry machinery sales in Europe and North America are buoyed by a confluence of factors, including support of favorable funding policies of the government in terms of national development programs, along with rising adoption of key mechanized practices such as cut-to-length (CTL) approach. 

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Sensing varied requirement of end-users in the forestry machinery market, key players have introduced a variety of machinery, including skidders, bunchers, harvesters, forwarders, and loaders. The study finds that forwarders account for nearly 30% sales of forestry machine worldwide, primarily underpinned by increasing number of contracts between players and end-users, and product developments to cater demanding operations in extreme terrain conditions. Growing demand for optimized and fast transport of logged wood from forests to store landings will further contribute to the development and sales of forwarders in the foreseeable future. 

Fired Heaters Market Forecast Highlights Revenue Share Analysis Across Prime Geographies During 2018-2028

This Fact.MR report offers a long-term perspective of the fired heaters market for the period, 2018 to 2028. The fired heaters market is forecast to record a volume CAGR of nearly 7% through 2028. According to the study, the direct-fired heaters was estimated to account for over 70% market share in the global fired heaters market. The increasing consumer demand for cost-effective yet highly productive fired heaters, coupled with a higher preference for efficient heating equipment has translated into a significant demand for direct-fired heaters, in light of their capability to attain 100% operational efficiency. This rise in demand for direct-fired heaters is prompting leading manufacturers to focus on the development of equipment with improved air volume to heat output ratios.

According to the recently published study by Fact.MR, the global sales of fired heaters were close to 695 units in 2018, and are estimated to register approximately 5% Y-o-Y in 2019.  The fired heaters industry remains influenced by a slew of factors that range from continued adoption in chemical and petrochemical industries, to focus of manufacturers in optimizing the operational efficiencies of fired heater to minimize energy consumption.

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The study finds that energy demand witnessed a remarkable rise in 2018, and the consumption continues on an upward spiral, primarily driven by pervasive rise in cooling and heating requirements. As fired heaters used in process industries, such as chemical, petrochemical and pharmaceutical, account for a notable energy consumption, leading manufacturers are putting efforts to optimize the heater operation even in fluctuating loads. Development of hardware-based control schemes to reduce the NOx emissions, is another key focus area of leading players in the fired heaters market.

Attractiveness of East Asia for Fired Heater Manufacturers Endures

According to the study, East Asia will continue to remain the most attractive market for fired heaters, with sales estimated to account for nearly 25% sales in 2019. China continues to remain an attractive market for fired heater manufacturers, and accounts for over 70% sales in East Asia. As China is home to numerous chemical and petrochemical process equipment facilities, the market players continue to focus on strengthening their distribution and optimizing the supply chain to leverage the growth potential in the country.

South Asia will also remain lucrative for fired heater manufacturers, and the study opines that sales in the region will grow at a relative faster rate than those in East Asia in the foreseeable future. This can be significantly attributed to the lucrativeness of key countries such as India, where manufacturing and production facilities of chemical & petrochemical products & equipment are likely to grow in the upcoming years. The opportune potential of East Asian and South Asian markets has traditionally been strong for players in the fired heaters market, and the status-quo is expected to prevail in the near future, as more manufacturers invest into erecting manufacturing facilities in the region to cater growing demand.

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Investment of fired heater manufacturers into new product development has gained a remarkable uptick in recent years, owing to the widening application scope of these equipment. These players are also emphasizing discovery of new materials, along with process innovations, to save on cost and comply with sustainability goals of the energy & power industry. Process-specific production of fired heaters is a key focus area of the market stakeholders, which has gained significant emphasis recently, in line with the growing number of contract-based deals between manufacturers and customers for delivering customized solutions, which in turn has led to application diversity of the fired heaters.

Elevators Market: Global Outlook and Forecast Based on Upcoming Trends Analysis Through 2029

According to a new study by Fact.MR, the global sales of elevators are estimated to surpass 900 thousand units in 2019. The elevators industry continues to remain influenced by various factors, which range from the resurgent growth in new residential construction, to innovative developments in modern elevator designs such as cloud predictive maintenance and intuitive technologies. 

The trend of Building Information Modelling (BIM) continues to remain a key growth determinant of the elevators market, as it involves the rules & regulations and planning infrastructure with digitalization concepts that involves implementation of IoT and cloud-based solutions. The elevators industry, studded with innovation, is likely to help manufacturers to identify and resolve future challenges entailed by macro-trends such as rapid urbanization and demographic change. 

Fact.MR study offers a long-term outlook of the elevators market for the period 2019 to 2029. The elevators market is projected to register a volume CAGR of nearly 10% through 2029.

The study opines that demand for elevators shows no signs of abating alongside notable growth in the commercial, residential, as well as industrial construction activities. The elevators industry remains one of the most innovative business areas, influenced by international and national regulatory standards, which have encouraged leading players to introduce ground-breaking developments that lead to significant cost-savings for customers. 

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Growing space constraint associated with the construction of separate commercial and residential buildings, particularly in metro cities, has driven the trend of ‘Mixed-use Development’ in the real-estate sector. This has been creating a fresh room for development and sales of elevators that eliminate the requirement for machine rooms. According to the study, elevator sales in mix block infrastructures will grow at a significant pace, and are estimated to exceed 150 thousand units in 2019. 

The Fact.MR study opines that single deck elevators remain the preferred category among customers, accounting for nearly 80% sales. Sales of double deck elevators are estimated to grow at a relatively greater pace, in light of their requirement for less core space in buildings. Additionally, the trend of using one part of the double-deck elevators for carrying goods to prevent damages associated with the use of trolleys, has been significantly complementing their adoption, particularly among commercial infrastructures. 

‘Smart’ continues to be the Buzzword in Elevators Landscape 

The study indicates that increasing demand for jerk- and shock-proof, faster vertical transit in high-rise buildings - future skyline of metropolitan cities - has rubbed off on technology advancements in the elevators market. This, coupled with regulatory mandates on manufacturers apropos of safety and quality, continue to favor growth of the elevators market. 

IoT-connected smart elevators have gained immense traction in the recent past, with manufacturers directing their focus toward integration of technologies that notify faults and errors in the equipment prior to their occurrence, thereby saving time and money for customers. Proliferation of IoT in the elevators market has meant that modern equipment are witnessing notable advancements such as prediction of traffic in real-time, ease & convenience in communication with service teams, and mobile-application based elevator operations. 

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According to the study, Asia Pacific is likely to account for a significant share of global construction spending over the assessment period, driven by the growing infrastructure development, particularly in China and India. The exponential growth in the residential sector and construction activity across Asia Pacific region has resulted in growing application of elevators. Manifold factors such as demographic changes, and rising demand for skyscrapers are likely to reinforce the demand for modern building infrastructure, including elevators in the coming years. 

Global Dredging Market Predictions Highpoint Enhanced Sales During 2019 to 2029

According to new Fact.MR study, the global dredging market is anticipated to grow at a value CAGR of ~3% during the forecast period, to reach a market share of ~USD 21 Bn by 2029 from an estimated value of ~USD 15 Bn in 2019. Over the past decade, the dredging market has come across ups and downs in terms of share across the globe. However, with the restoration in the global economy, the seaborne trade has also grown notably. Increased in global infrastructure activities create needs for the development of new ports and expansion of existing ports. Across the globe, ~ 85% trade occurs through sea trade. Maintaining existing pathways and developments of new ones have gained importance. According to UNCTAD, supported by 2017 year’s upswing in economy, the global seaborne trade is flourishing. Expanding at 4%, the global seaborne trade volume has reached 10.7 billion tons and has gathered momentum in the shipping industry.

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Fact.MR opines that urbanization in the last two decades has led to the development of many cities as centres of growth and innovation. However, along with its advantages, it has also posed challenges to governments in terms of planning and accommodation. According to UN Habitat’s 2016 report, ~54% of the world’s population lives in cities. As urbanization shows no signs of abating, with more people moving towards cities in developing countries, administrators have been hard-pressed to provide space for millions of people who teem in cities every year. The focus has shifted towards public housing; however, with the acute shortage of land supply, offering public housing has also become a challenge. In view of these factors, land reclamation is becoming the go-to option for city planners dealing with overwhelming pressures from urbanization. From the East Lantau Metropolis (ELM) project in Hong Kong, The Manila Land Reclamation Project in the Philippines, Singapore’s Land Use Plan 2030, and ongoing land reclamation projects in the Middle East, city planners are banking on land reclamation to deal with immediate and long-term needs of the urban population. This has led to an increase in dredging activities to reclaim land. 

Limitations of Deep Sea Mining to Hamper the Dredging Market Growth

Governments across the globe are focusing on deep sea mining on account of the huge potential in the area of marine mineral resources. Shrinking reserves and burgeoning demand have led to renewed interest in deep sea mining. According to certain estimates, by 2030, the global production of cobalt, zinc, and copper could be from their concentrations on the ocean floor. Although dredging remains a feasible option for extracting materials from water sources, the limitation of equipment available currently to dig 5,000 metres below the sea level leads various operators to look for other excavation methods. The lucrativeness of deep sea mining has still not been vanished from the dredging industry, and several plans are underway to develop advanced dredging equipment that can be used in future projects related to deep sea mining. 

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The dredging market is analyzed across different primary regions, which include North America, Latin America, Europe, East Asia, South Asia and Oceania, and the Middle East & Africa. Among all regions, the East Asian region in the global dredging market is expected to grow with an estimated market share of ~30% by 2029 end, owing to the developing seaborne trade and significant number of regional players operating in the dredging market. The dredging market in regions like South Asia and Oceania and the Middle East is observing a high seaborne trade and widening the scope for the dredging market. This will pave the way for worthwhile opportunities for the dredging market over these regions.

Container Handling Equipment Market Likely to Inflict Positive Growth Trend During 2019 to 2029

According to a new Fact.MR study, the global market for container handling equipment is expected to increase at a value CAGR of 4.2% over the forecast period, to reach a market size of USD 2,316.6 Mn by 2029 from a calculated USD 1,541.2 Mn in 2019. The report provides potential takeaways that prove to be significantly useful for other market entrants in the container handling equipment market and evaluates trends that are driving the growth for container handling equipment market in each market division on a global level.

The uncompromising emission regulations for container handling equipment, growing containerized trade across the world and strong demand for container handling equipment in the Asia Pacific and the Middle East will fuel the demand for container handling equipment. Despite the consequential complexities for manufacturers and suppliers, the proliferation of automated products is considered to be a boon for the growth of the container handling equipment market.

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According to a UNCTAD report published in 2018, the average container vessel size increased over the past few years. Due to the increased size of container vessels, container traffic from a single vessel increases, which requires efficient container handling equipment to move the containers. The container handling equipment market is analyzed across regions such as, Latin America, North America, South Asia, East Asia, Oceania and Middle East and Africa. According to the World Bank, China is the global leader in container handling activity. The ports in China, North Korea and Singapore handle millions of TEU yearly, which is responsible to increase container handling equipment market in Asia Pacific region. In 2019, South Asia and Oceania regions held about more than 28% of share in the global container handling equipment market and is expected to grow at a CAGR of 5.1% by value over the forecast period. As per the Port Equipment Manufacturers' Association (PEMA), the demand for container handling equipment mainly comes from larger and medium ports in countries such as China, India, Japan and Singapore within the Asia Pacific region due to increased container traffic over there. All such factors are expected to boost the demand for container handling equipment.

The increasing number of new terminals and the advent of automation is one of the most prominent trends in the container handling equipment market. As container terminals aim for higher productivity and more efficient operation, automation is making significant strides across the globe. In order to meet the challenges of larger vessels and taller cranes the automated solutions will get adopted by port terminals. Automation of ports not only shrinks the turnaround and waiting time for container handling equipment but also cuts the container handling duration.

Due to the increasing stringency in emission regulations, the electric propulsion container handling equipment market is anticipated to increase at the fastest rate during the forecast period. Across the different regions, the norms related to emissions have continuously been upgraded. According to the EU norms, PM and NOx levels are decreased by nearly 95.7% and 97.2% from Stage I to Stage V, respectively. Also, as per the U.S. EPA norms, PM and NOx levels have declined by 95.6% and 96.2% from Tier 1 to Tier 4, respectively.

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Countries such as India, China, Japan, and South Korea are also following similar norms that are in line with these standards. Due to stringent norms, the electric propulsion type container handling equipment market is anticipated to remain the leading section during the forecast period. By considering these stringent norms the companies like Cargotec, Konecranes and Liebherr have not only initiated research and development activities for their electric container handling equipment product line but also expanded their product line for the same.

Global Concrete Mixer Market Projected to Discern Stable Expansion During 2018 to 2028 – Reveals Fact.MR

According to a new study of Fact.MR, revenues from the concrete mixer market were in excess of 126,800 units in 2018, and are estimated to record a 4% Y-o-Y growth in 2019. Myriad factors influence dynamics of the concrete mixer industry, which range from the customer requirement for equipment with high technical standards and convenient portability, to tightened environmental standards apropos of emissions and recycling of materials. This Fact.MR study also offer a long-term perspective of the concrete mixer truck market for the period between 2019 and 2027. According to the study, the concrete mixer market is estimated to record a CAGR of over 4% through 2027.

The study opines that in-transit mixers remain the preferred category among end-users, in light of their ability to both mix and transport concrete around a construction site, particularly in case of remote locations and sites that are far from concrete plants. The deprivation of clotting, and prevention of concrete balling effect, are key benefits associated with in-transit concrete mixers that continue to sustain their sales. On the contrary, sales of trailer concrete mixers are expected to remain low, tugged by their higher operating and maintenance costs, along with relatively less efficient maneuverability. 

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According to the study, a key trend complementing sales of in-transit mixers is growing demand for mobile volumetric concrete mixers that prevent concrete waste entailed by over-ordering. The volumetric concrete mixers also enable efficient and convenient trips to batch plants, saving on hot loads and various other expenses, and cutting down time of operation. While precision continues to be the key, user-friendly control options of these equipment will continue to attract customer attention and drive sales. 

Portable Concrete Mixers Sales Surge with Uptake of Efficient Solutions for Small Batches 

The report finds that the number of projects that call for greater concrete volume, which is difficult to produce using paddle mixers, has witnessed a notable rise, which has created the demand for portable concrete mixers as a consequence. Portable variants continue to account for over 7 in 10 units of concrete mixers sold worldwide, upheld by their ability to efficiently blend water and concrete, and consistently deliver the mixture as per requirement. 

Construction equipment manufacturers have been directing their efforts toward research activities in the concrete industry, in a bid to develop products that offer capabilities that are a combination of drum mixers and paddle mixers. This coupled with the focus on the development of concrete mixers with lightweight, time-effective, and self-contained, characteristics have resulted in the development of high-performance portable concrete mixers, thereby favoring the market growth. 

Attractiveness of APEJ for Concrete Mixer Manufacturers Remains Intact 

The study opines that the lucrativeness of APEJ for stakeholders in the concrete mixer market is here to stay, as governments in the region continue to play a vital role as a facilitator via favorable regulations and policies. Resurgent growth in construction activities, along with growing government investments in the infrastructure development, continue to complement growth of the concrete mixer market in APEJ. 

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The concrete mixer industry is currently witnessing the introduction of new-generation truck mixers, underpinned by the buzz phrase “more innovation, more benefits” among leading stakeholders. While the emphasis is being placed on cost-effectiveness, ergonomics, and safety, greater customer benefits are realized in superior handling, low cleaning cost, and higher payload. These innovative products allow safe and flexible installation of attachment parts and accessories, with the requirements met in effective & convenient positioning chutes, holders, and toolboxes. 

Chemical Tanker Market Value Projected to Expand by 2019 to 2027

Global sales of the chemical tanker in 2018 surpassed 130 units and is anticipated to expand at a moderate pace over the midterm forecast period, according to a recently published study by Fact.MR. APAC is estimated to be the leading region accounting for more than 35 percent share (Volume) in the global chemical tanker market, owing to increased seaborne trade and demand from end-use sectors. APAC is closely followed by Europe. In terms of value and quantity during the forecast period, the Asia Pacific chemical tanker market is also expected to grow at a significant CAGR. Within Asia Pacific, China is expected to lead the market for chemical tankers in the Asia Pacific. The worldwide market for chemical tankers accumulates maximum earnings made by shipping chemicals and their related products. The expanding chemical industry and chemical producers ' increasing capacity drive the demand for chemical tankers around the globe. Growing fleet size shows that there is potential for gradual growth in the coming years.

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A measurable overcapacity of the chemical tanker has also been reported in the industry, as an equated effect of decelerated chemical trade between key markets, translating to limited demand for chemical tankers. Chemical tanker fleet operators over the past three quarters also reported squeezed net revenues, where companies experienced a tough time to ensure a healthy bottom line.

Slow growth in crude oil production and the formulation and execution of petroleum bunkering regulations act as impediments in the development of the market for chemical tankers.

Chemical Tankers to Provide Lucrative Investment Opportunities

Growing chemical trade is expected to increase the market demand for chemical tankers as a result of the growth in manufacturing operations around the globe. The disparity in regional manufacturing and demand trends has created the need for global trade in chemicals and derivatives. Thus the need for transporting chemical materials through chemical tanker becomes essential. The growth of the chemical industry and the growing use of water transport to transport chemicals from one location to another across the globe are key drivers for the development of the market for the chemical tanker. Organic chemicals such as acetic acid, propene, alcohols, benzene, benzyl acetate, methanol, and phenol are some of the essential chemicals shipped through chemical tankers all over the globe.

Mergers and Acquisitions Will Be the Major Contributors in the Growth of Chemical Tanker Market

The tide has changed over the past few years and mergers and acquisitions have been favored as key strategies by stakeholders as they promote sustenance and rapid growth in the global chemical tanker market. A combination of several trends and regulatory changes coupled with the employment of larger vessels, increasing competition and the financial crisis have forced the players in the market to resort to collaboration, mergers and acquisitions.

• In February 2019, Team Chemical tankers announced the acquisition of Laurin Maritime and Anglo-Atlantis Chemical tanker for $206 million, a deal which added 34 coated IMO II/III MR Chemical tankers to its existing fleet of 33 vessels.
• At the end of 2018, Eastern Pacific reportedly bought thirteen 19,000 dwt stainless steel vessels from the BW Group. These vessels will be operated by Ace Quantum, which will manage the largest fleet of stainless steel ships in this size segment in the future with a total of 33 vessels on the water.
• Meanwhile, 2019 has already seen its first consolidation deal, with Triton selling its 100% owned Nordic Chemical tanker to MOL Chemical tanker. The new combined operation will be renamed MOL Nordic Chemical Tanker A/S, and will have a fleet of 75 vessels. More mergers, joint ventures, and buyouts are expected.

The global market for chemical tanker in the shipping industry is consolidated with regional competitors. Key players include Odfjell, Stolt-Nielsen Ltd, IINO KAIUN KAISHA Ltd and Nordic Tanks.

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The Fact.MR report offers a forecast of the global chemical tanker market for the period 2019 to 2027. According to the report, the chemical tanker market is projected to record a growth rate of over 1.7% through the forecast period.