Industry Intelligence and Business Advisory Services

Friday, April 12, 2024

Safety Reinvented: Global Automotive Airbag Silicone Market's 17.8% CAGR

The Global Automotive Airbag Silicone Market is poised for substantial growth, projected to reach a size of USD 536 million by 2027, up from an estimated value of USD 239 million in 2020, boasting a robust Compound Annual Growth Rate (CAGR) of 17.8%.

Initially, the demand for airbags was primarily focused on frontal airbags in most regions. However, a pivotal shift occurred in 2012 when the EU mandated the introduction of head-protecting airbags and side airbags alongside frontal airbags. This regulatory push propelled the market for curtain/side and other airbag styles. The industry’s growth trajectory is expected to be driven by the increasing sales of premium cars equipped with enhanced safety features, including 5–8 airbags per vehicle. Moreover, there is a growing demand and penetration of various airbag styles in passenger vehicles.

In the upcoming years, stringent safety regulations are anticipated to be a major driver for the Vehicle Airbag Silicone Market. The increasing installation rates and demand for frontal, curtain/side, and knee airbags will further fuel market growth. Additionally, the rise in demand for electric vehicles and the increasing adoption of airbags in commercial vehicles present growth opportunities for market players during the forecast period.

The Asia Pacific region is poised to lead the market during the forecast period from 2021 to 2027. Countries like China, Japan, South Korea, and Thailand are experiencing heightened demand due to international development and the cost-effectiveness of regional airbag firms optimizing their presence to minimize supply chain costs. Conversely, countries such as India heavily rely on outsourcing to meet the demand for fabric and automotive airbag silicone due to the lack of supplier involvement.

One of the key drivers of demand in the Asia Pacific region for automobile airbags is the high number of road crashes and associated fatalities. This has led to increasing public safety concerns, prompting stricter rules and regulations in Asia Pacific countries to mitigate road fatalities.

Overall, the Global Automotive Airbag Silicone Market is poised for significant growth driven by regulatory mandates, increased safety awareness, and the expanding presence of airbags in various types of vehicles. The Asia Pacific region, with its burgeoning automotive industry and growing safety concerns, is expected to play a pivotal role in this market’s growth trajectory.

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From Billions to Trillions: Global 3D Mapping Market's $616.35 Billion Forecast

The Global 3D Mapping and Modeling Market, valued at USD 4.5 billion in 2023, is projected to reach USD 616.35 billion by 2030, boasting a remarkable Compound Annual Growth Rate (CAGR) of 18.5% during the forecast period.

3D mapping and modeling market involve the technique of creating and visualizing objects in 3D dimensions. Mapping is used to generate 3D views of objects, while modeling utilizes specialized software to develop 3D models of desired objects.

The market’s robust growth is driven by various factors, including the increasing adoption of 3D-enabled display devices for enhanced navigation, technological advancements in 3D scanners and sensors, a surge in demand for 3D animation in mobile applications, games, and movies, and the growing availability of 3D content. Additionally, the emergence of Artificial Intelligence (AI) and Machine Learning (ML) technologies is expected to fuel demand for 3D content accuracy, presenting lucrative growth opportunities in the 3D mapping and modeling market.

Industries such as construction, automobiles, transportation, healthcare, and entertainment are among the key sectors leveraging 3D mapping and modeling technologies. The market is poised to benefit from technological advancements and the widespread availability of 3D equipment such as sensors, scanners, and GPS components.

In May 2022, Golden Software, a provider of low-cost 2D and 3D scientific modeling software, announced updates to its Surfer software. These enhancements include new and improved 3D features, making it easier for Surfer users to explore, display, and analyze complex 3D data with newly available capabilities as well as those in Beta development.

Amidst the challenges posed by the COVID-19 pandemic, industry players are adopting collaborative applications, offering AI security solutions, and advanced analytics to drive market revenue. These strategic initiatives are aimed at capitalizing on growth opportunities while navigating the evolving landscape of the 3D mapping and modeling market.

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Maximizing Revenue: Global Market's 9.2% CAGR Journey to 2030

The global revenue assurance market is poised to grow from $0.53 billion in 2023 to $0.88 billion by 2030, marking a Compound Annual Growth Rate (CAGR) of 9.2% during the forecast period.

Revenue assurance encompasses a range of operations that enable businesses to accurately collect revenue for all goods sold or services rendered. Rather than addressing funding errors after the fact, these concepts and tools allow businesses to identify and rectify existing or potential revenue leakage points across networks and customer-facing processes before data enters the company’s billing systems.

Several factors are driving market growth, including the increasing focus of businesses on improving customer experience, the rise of the subscription-based economy, and the need for automation solutions like Revenue Process Automation (RPA). However, reliance on human-led services poses a constraint on market growth. Additionally, the increasing demand for innovative payment services and Telco-OTT partnerships present opportunities for the revenue assurance market.

Key Trends: The revenue assurance market is characterized by the emergence of both large-scale and medium-scale providers, each investing in Research and Development (R&D) to develop innovative solutions and maintain competitiveness. Fierce competition among major players necessitates constant innovation and the production of technologically advanced revenue assurance solutions.

For instance, in June 2022, WeDo Technologies, specializing in fraud management and revenue assurance, hosted over 200 telecom experts at its WeMeet Europe event. The event shed light on how 5G technology can challenge current telecom business models and highlighted areas where the company is investing in its product portfolio to assist Communication Service Providers (CSPs) in risk reduction and revenue assurance strategies.

Market Drivers: Digitization is a primary driver for revenue assurance market growth. Factors such as increased internet penetration, the rise in transaction data generation, and the growth of small and medium-sized businesses offering digital service delivery solutions are driving this trend. The adoption of subscription-based business models and emerging technologies like Big Data, Machine Learning (ML), and Internet of Things (IoT) also contribute to market growth.

Globally, telecom operators lose billions of dollars annually due to revenue leakages caused by inadequate internal control processes, systems, and fraud. Despite the awareness of this issue, many service providers continue to face challenges related to revenue leakages. As networks become more complex with the adoption of new access and service delivery technologies, the demand for revenue assurance solutions and services is expected to increase significantly, driving market growth.

Opportunities: Technological advances in revenue assurance are expected to create opportunities for the industry in the forecast period. Innovations like cloud computing, 4G/5G networks, IoT, and Software-Defined Networking (SDN)/Network Function Virtualization (NFV) enable operators to introduce new business models and services. However, these advancements also present new instances of fraud. Traditional structures struggle to keep pace with the dynamics of today’s mobile world, leading to revenue loss and potential profit erosion. Implementation of new technologies and processes, such as real-time revenue assurance, is expected to fuel market growth in the coming years.

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Efficient Farming Solutions: Global Drip Irrigation Market's Forecast to 2030

The global Drip Irrigation Market, segmented by Crop Type (Field Crops, Fruits & Nuts, Vegetables, Crop), Application (Surface, Subsurface), Emitter Type (Online, Inline), and Component (Emitters/Drippers, Pressure Pumps, Drip Tubes/Drip Lines, Valves, Filters, Fittings & Accessories), is anticipated to reach USD 11.3 billion by 2030. This is a significant increase from the expected value of USD 6.5 billion in 2023, representing a robust CAGR of 10.8% for the period.

The growth of the Drip Irrigation market can be attributed to several factors, including water conservation activities, decreased production costs, government initiatives, and enhanced production. Countries like India and China, driven by a wide agricultural sector and exports, are among the dominant markets targeted by manufacturers and distributors of drip irrigation systems.

Impact of COVID-19 on the Drip Irrigation Market:

The global impact of the COVID-19 pandemic has been notable, affecting many industries worldwide. This pandemic continues to have far-reaching and complex impacts across the water-energy-ecosystem-food nexus. The irrigation sector, being a crucial enabler for millions of agricultural jobs in rural areas, supports the world’s most critical production systems and livelihoods of a significant portion of the global poor. It also facilitates the transition to sustainable water-saving practices.

Despite the challenging circumstances, drip irrigation companies worldwide have continued to operate. However, there have been numerous shocks impacting service delivery, such as a lack of available labor, fiscal constraints, and disruptions in supply chains due to travel restrictions.

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Emission-Free Advancements: Electric Off-Highway Vehicle Market's Surge

The global Electric Off-Highway Vehicle Market, categorized by Propulsion (Hybrid-Electric, Battery-Electric), Battery Capacity (<50 kWh, 50–200 kWh, 200–500 kWh, >500 kWh), Application (Construction, Mining, Agriculture, Gardening), Battery Type (Lithium-Ion, Lead-Acid, Other Batteries), and Equipment Type (Excavator, Motor Grader, Dozer, Loader, LHD, Dump truck, Lawnmower, Sprayer, Tractor), is expected to reach USD 20.1 billion by 2030. This is a significant increase from the anticipated value of USD 6.1 billion in 2023, representing a robust CAGR of 22.5% for the period.

The growth of this market is attributed to several key factors, including the development of advanced and new products, post-2020 recovery of end-use sectors, and upcoming emission norms for off-highway vehicles.

However, OEMs have recently delayed the development and launch of new vehicles due to the global financial slowdown. In light of this, manufacturers of electric off-highway vehicle market are cautious about adding extra costs to these vehicles by integrating hybrid powertrain systems and batteries.

The prolonged impact of COVID-19 may lead OEMs to reduce financial investments in R&D activities related to electric off-highway vehicles. The decrease in demand for Electric Off-Highway Vehicles worldwide may also delay the transition to standard and large electric off-highway vehicles from mini electric ones. As the growth of the EOHV market is closely linked to vehicle production, the electric off-highway vehicle market is expected to be affected by this trend.

Despite these challenges, several off-highway vehicle OEMs have resumed production since May 2020. For instance, China resumed production in early February, with companies like XCMG Group and BYD Auto Co., Ltd. reopening their plants at full capacity. In the US, major OEMs such as John Deere, which temporarily halted production in May, are expected to resume operations by the third quarter of 2020.

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Fertile Growth: Soil Testing Equipment Market's 10.8% CAGR Projection

The global Soil Testing Equipment Market, segmented by Type of Test (Physical, Residual, Chemical), End User (Agriculture, Construction, Others), Degree of Automation (Manual, Semi-automatic, Automatic), and Based on Site (Laboratory, On-site), was valued at approximately USD 3.3 billion in 2023. It is expected to reach a value of USD 6.2 billion by 2030, with an anticipated CAGR of 10.8% during the forecast period of 2025–2030.

The growth of this market is driven by various factors, including the need for improved farm management methods, industrialization, agricultural intensification, and the demand for faster and more accurate test results. The rapid adoption of precision farming techniques maximizes crop yield and profitability by testing soil fertility, leachability, and nutrient movement. This enables farmers to divide fields into zones, developing site-specific strategies to optimize yields and reduce input costs. These factors have significantly contributed to the development of the global soil testing equipment market.

However, demand for soil testing equipment experienced a decline in 2020 due to government lockdowns and reduced demand from the construction and agricultural sectors. The COVID-19 pandemic led to shutdowns in the production of various soil testing equipment items, especially due to prolonged lockdowns in major global countries. This slowdown in demand for soil testing equipment is expected to continue throughout 2020.

Major manufacturing countries such as the U.S., Germany, Italy, the United Kingdom, and China, severely affected by the spread of coronavirus, have previously experienced significant demand for equipment and machinery, which has now decreased.

The future impact of the lockdown remains uncertain, and the financial recovery of firms depends on their cash reserves. Equipment and machinery companies can afford a complete lockdown for only a few months, forcing them to adjust their investment plans. Manufacturers must prioritize the safety of their staff, facilities, and supply chains to address urgent challenges and develop new operational strategies as COVID-19 cases decrease.

About VynZ Research:
VynZ Research is a global market research firm offering research, analytics, and consulting services on business strategies. VynZ has a recognized trajectory record and our research database is used by many renowned companies and institutions in the world to strategize and revolutionize business opportunities. The company focuses on providing valuable insights on various technology verticals such as Chemicals, Automotive, Transportation, Energy, Consumer Durables, Healthcare, ICT and other emerging technologies.

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Purifying Progress: Water Treatment Systems Market's 8.5% CAGR Projection

The global Water Treatment Systems Market, segmented by Technology (Water softeners, Reverse osmosis systems, Distillation systems, Disinfection methods, Filtration methods, Others (adsorption and electrolysis)), and Application (Residential, Non-residential, Commercial, Industrial, Healthcare, Educational Institutes, Others (stadiums, railway stations, and airports)), was valued at USD 21.9 billion in 2023. It is expected to reach USD 45.3 billion by 2030, with an anticipated CAGR of 8.5% during the forecast period of 2025–2030.

The growth of this market is fueled by several key drivers including the increasing global demand for clean water, stringent regulatory rules and concerns, and a growing focus on environmental issues. Factors such as rapid urbanization and population growth, rising demand for new water supplies, and increasing emphasis on water quality and public health are contributing to market expansion. Additionally, the prevalence of waterborne diseases, industrial demand for water treatment, and strict government regulations on wastewater treatment are propelling market growth.

However, challenges such as the high cost of equipment, operations, and disposal, as well as ageing water infrastructure, excess energy usage, and rising expenditures due to excess sludge development, are hindering the overall demand for water and wastewater treatment.

The COVID-19 pandemic has had a significant impact on the water market. Organizational stability and economic growth have become primary areas of expenditure due to the pandemic. Worldwide lockdowns have disrupted supply chains and labor supply for manufacturing, greatly affecting the development of the global water treatment system market.

Customers are now highly price-responsive on the demand side, focusing new investments on digital and smart technologies that enable remote operation and visibility of systems or infrastructure. The urban water and wastewater sector has exhibited the greatest resilience due to government funding packages and their critical role globally.

Thursday, April 11, 2024

Piping Solutions: Pre-Insulated Pipes Market's 8.5% CAGR Projection

The global Pre-Insulated Pipes Market is utilized in various installations including Above Ground and Below Ground applications. It serves diverse end-use industries such as Oil and Gas, District Heating and Cooling, Infrastructure and Utility, Chemicals, Water Treatment, Food Processing, and Pharmaceutical sectors. Pre-insulated pipes are designed to maintain the temperature of the liquid within the pipes, also known as isolated or bonded pipes.

Smithline offers insulated pipe systems for both heating and cooling networks. The SYSTEM PRE-INSULATED PIPING is particularly well-suited for applications where reducing heat loss is critical. This product range is specifically designed for the efficient supply of hot fluids to networks. Installers benefit from the reliability, ease of installation, and relevant physico-mechanical properties of the materials used in these pre-insulated pipe systems.

Filtering the Future: Global Liquid and Air Filter Bags Market to Reach $4,765.23 Million by 2023

The global Liquid and Air Filter Bags Market, segmented by Type (Liquid, Air), Bag Size (7OD32’, 7OD17’’, 4OD14’’, 4OD8’’, Others), and Application (Chemicals and Pharmaceuticals, Mining, Water Treatment, Steel and Power, Cement, Others), was valued at $4,765.23 million in 2019. This market witnessed a CAGR of 6.1% during the forecast period.

The removal of solids from the liquid phase is a crucial process in liquid filtration. This filtration is accomplished through the use of bags or mesh filters for liquid and air filtration. Widely used filter media include Polypropylene, Polyester, Nylon, Cotton, Non-woven, and others. Filter bags are manufactured for optimal filtration efficiency, carefully selecting media to meet the requirements of various process industries. Different forms of media used include Felt Needle, Monofilament, and Multifilament.

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Zeroing In: NZEB Market's Growth Projection at 15.1% CAGR

The global Net Zero Energy Buildings (NZEB) Market is anticipated to reach USD 79.23 billion by 2030, with a projected CAGR of 15.1% during the forecast period. This market encompasses both Residential and Commercial constructions, along with various Equipment types such as Insulating Panels, Lightning Systems, HVAC Systems, and Solar PV Panels.

Net Zero Energy Buildings (NZEB) are those constructions that, over time, achieve net energy consumption through the utilization of local renewable energy technologies. Instead of relying solely on traditional sources like electricity, natural gas, and steam, these buildings derive their energy from renewables on site. While emerging NZEB buildings have objectives for nearly zero energy consumption, the goals as validated by certified NZEB buildings are yet to be fully realized. These emerging buildings are typically designed or planned to achieve this status within a year of entering service.

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Transforming Industries: Instrument Transformers Market Set to Surge

The global Instrument Transformers Market is expected to witness significant growth, valued at USD 11.1 Billion in 2023. By 2030, it is projected to reach USD 18.2 Billion, reflecting a CAGR of 7.9% during the forecast period. This market is segmented by Enclosure Type (Indoor Transformers, Outdoor Transformers), End Users (Industries and OEMS, Power Utilities, Power Generations), Rating (Distribution Voltage, Sub-Transmission Voltage, High Voltage Transmission, Extra High Voltage Transmission, Ultra-High Voltage Transmission), and Application (Relaying, Metering and Protection, Switchgear Assemblies, Transformer and Circuit Breaking Bushing).

The Instrument Transformers Market covers a wide range of enclosure types including Indoor Transformers and Outdoor Transformers. End users of these transformers are categorized as Industries and OEMS, Power Utilities, and Power Generations. The market is further segmented by various voltage ratings such as Distribution Voltage, Sub-Transmission Voltage, High Voltage Transmission, Extra High Voltage Transmission, and Ultra-High Voltage Transmission. Applications of instrument transformers include Relaying, Metering and Protection, Switchgear Assemblies, and Transformer and Circuit Breaking Bushing.

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Focused Energy: CPV Market's Growth to USD 143.0 Billion by 2030

The global Concentrated Photovoltaic (CPV) Market is poised for substantial growth, with a valuation of USD 76.0 billion in 2023. By 2030, it is projected to generate revenue of around USD 143.0 billion, representing a CAGR of 8.0% during the forecast period. This market is segmented by Product (Refractors, Reflectors), Level of Concentration (High Concentration Photovoltaic, Low Concentration Photovoltaic), and Application (Utility, Commercial).

The Concentrated Photovoltaic (CPV) Market is witnessing significant growth potential across various products including Refractors and Reflectors. It is further categorized by the level of concentration, including High Concentration Photovoltaic and Low Concentration Photovoltaic technologies. This market finds applications in Utility and Commercial sectors.

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From 35.16 to 47.3 Billion: Growth Trajectory of Sterile Medical Packaging Market

The global Sterile Medical Packaging Market is anticipated to witness substantial growth, with a valuation of approximately USD 35.16 billion in 2023. By the end of 2030, it is expected to generate revenue of around USD 47.3 billion, representing a CAGR of around 6.2% between 2025 and 2030. This market is segmented by Application (Pharmaceutical & Biological, Surgical & Medical Instruments, In Vitro Diagnostic Products, Medical Implants), Type (Thermoform Trays, Sterile Bottles & Containers, Vials & Ampoules, Pre-fillable Inhalers, Sterile Closures, Pre-filled Syringes, Blister & Clamshells, Bags & Pouches, Wraps), and Material (Plastics, Metals, Glass, Paper & Paperboard).

The Sterile Medical Packaging Market is poised for significant growth across various applications including Pharmaceutical & Biological, Surgical & Medical Instruments, In Vitro Diagnostic Products, and Medical Implants. This market offers a variety of packaging types such as Thermoform Trays, Sterile Bottles & Containers, Vials & Ampoules, Pre-fillable Inhalers, Sterile Closures, Pre-filled Syringes, Blister & Clamshells, Bags & Pouches, and Wraps. Materials used in sterile medical packaging include Plastics, Metals, Glass, and Paper & Paperboard.

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