Lithium Ion Battery Market: What are the fastest- or highest-growing areas in the industry?

“Market for Lithium Nickel Manganese Cobalt is expected to grow at a higher rate during the forecast period”

The energy density of NMC batteries is its primary strength. It achieves this energy density with good stability due to the use of an optimum ratio of nickel manganese and cobalt. It also has a good charge and discharge cycle. These features enable its application in industries such as automotive. NMC is used in batteries laptops, mobile phones, tablets, automotive, power tools, and electrical storage systems. It is expected to gradually replace LCO and NCA cathode materials in batteries of notebooks, mobile phones, and tablets. It is lightweight and can better serve slimmer and lighter tablets and smartphones. NMC is also used in HEV, EV, and PHEV as it offers higher safety, along with other desired properties. These advantageous properties of NMC are expected to increase its market share in next five years and ideally positioned it to be the best material available in this industry.

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“Lithium ion battery market for power capacity range 3,000–10,000 mAH is expected to grow at the highest rate during the forecast period”

Lithium-ion battery’s heavy power capacity makes it useful in electrical vehicles and industrial uses. The increasing market of consumer electronics and smartphones has increased the need for batteries with high power capacity that can keep the device running for long hours and at the same time giving an optimum experience of the device due to large screen and power back up service.

“Lithium ion battery market for consumer electronics is expected to hold the largest market during the forecast period”

Continuous development in consumer electronics as well as support from government and association for the adoption of lithium ion batteries has boosted the growth of this market. The growing use of electronic devices such as cell phones, laptops, MP3 players, and GPS navigation systems is driving the growth of the consumer electronics industry for the lithium ion battery market.

The overall lithium ion battery market is expected to grow from USD 37.4 billion in 2018 to USD 98.0 billion by 2025, at a CAGR of 15% from 2018 to 2025.

“APAC is expected to account for the largest market share during the forecast period”

The market mainly comprises China and India, which have a huge potential for many application areas within the lithium ion battery market. China being a global automotive manufacturing hub holds immense potential for the growth of the market. Increase in the production of electric vehicles and lithium ion batteries used in vehicles is driving the market in China. Furthermore, China is also one of the world's leading producers of electronic devices. This is expected to drive the market across multiple applications in China. Also, the presence of a number of electronic manufacturers such as Panasonic (Japan), Sony Corp. (Japan), Samsung SDI (South Korea), and LG Electronics (South Korea) in the region is one of the key factors driving the market for lithium ion batteries in APAC.

Key Market Players

Some major companies operating in the global lithium ion battery market are BYD Company (China), LG Chem (South Korea), Panasonic (Japan), Samsung SDI (South Korea), BAK Group (China), GS Yuasa (Japan), Hitachi (Japan), Johnson Controls (Ireland), Toshiba (Japan), Lithium Werks (The Netherlands), CALB (China), Saft Groupe, (France), VARTA Storage (Germany), Farasis Energy (California), and Sila Nanotechnologies (California).

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What could be the potential industrial applications of network monitoring?

According to the new market research report on the network monitoring market, the market is expected to reach from USD 1.82 billion in 2018 to USD 2.93 billion by 2023, at a CAGR of 9.9% from 2018 to 2023. The increasing number of enterprises with strict reliability requirements drives the need for network performance monitoring equipment. Also, the need for highly reliable, scalable network monitoring equipment for robust network monitoring capabilities to ensure smooth operations of mission-critical network infrastructure contributes to the growth of this market.

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Enterprises

Enterprises mostly rely on network monitoring solutions to optimize their network infrastructure on a daily basis. In the digital era, a smooth and agile network infrastructure is of utmost importance for every enterprise to be the frontrunner in the business landscape. Network monitoring solutions help enterprises improve their network performance by examining every aspect of the network process. These solutions are being widely adopted across major verticals due to the increased need for maintaining and optimizing the network infrastructure.

Telecommunications Industry

Telecommunications systems have rapidly evolved in the last few years with increasing demand for data connectivity. Managing these systems has become tedious not only in infrastructure and functionality managements but also in scope management. With the help of network monitoring, one can keep a track on telecom infrastructure as well as detect hardware failures or discrepancies that can cause potential revenue loss.

Government Organizations

Nowadays, a vast amount of data is being delivered in electronic format, and government agencies and departments are striving for fast and reliable technology to process their data. The government sector is looking for a secure, reliable, and high-performance network connectivity at a low cost. The network monitoring solutions will help the government sector in rapid disaster recovery from network failure, remote configuration, cybersecurity, and protection of critical network infrastructure from cyberattacks and other adversities.

Cloud Service Providers

Companies offering network services, infrastructure, and business applications in the cloud are considered cloud service providers. The trends in cloud computing are reaching new heights, with the growing data consumption and increasing mobility. Consumers and enterprises are opting for cloud services for backup and storage, and various other business processes due to increased security and mobility, as well as for cost reduction. Such cloud infrastructure denotes a critical part of business processes for their customers, who benefit from the scalability, elasticity, and security of cloud services. Hence, to keep the complex cloud infrastructure active, this end-user segment has found itself in an increasing need for network monitoring solutions and services.

Gigamon (US), NetScout Systems, (NetScout) (US), Ixia (US), VIAVI Solutions (Viavi) (US), APCON (US), and Garland Technology (US) are among the leading companies in the network monitoring market. Also, a few major companies, namely, Broadcom (US), Juniper Networks (US), Big Switch Networks (US), Zenoss (US), Network Critical (UK), Corvil (Ireland), CALIENT Technologies (US), Netgear (US), and Motadata (US) have also been profiled in the report.

Industries operating under regulatory norms for their business needs likely to implement network monitoring to control entire IT infrastructure, thereby driving growth of network monitoring market

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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Signify (Netherlands) and OSRAM (Germany) are Leading Players in the Specialty Lighting Market

The specialty lighting market is projected to reach USD 7.2 billion by 2024 from USD 5.4 billion in 2019, at a CAGR of 5.9% from 2019 to 2024. The major drivers for the market’s growth are the increasing number of live music events and concerts; stringent government regulations for air, water, and surface disinfection; growing penetration and adoption of surgical lighting for minor and major surgical procedures; and decreasing cost and increasing penetration of LEDs. Underlying opportunities for the specialty lighting market include the increasing demand for ultrapure water from end-use industries and high growth prospects in new applications. Major restraints for the market are the perception of higher cost of installation and limited awareness about payback periods. Misconceptions regarding UV purification systems pose a major challenge to the specialty lighting market.

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Signify Holding (Signify, Netherlands), OSRAM Licht AG (OSRAM, Germany), Cree, Inc. (CREE, US), Ushio, Inc. (USHIO, Japan), Advanced Specialty Lighting, Inc. (Advanced Specialty Lighting, US), Getinge AB (Getinge, Sweden), Herbert Waldmann GmbH & Co. KG (Waldmann, Germany), Brandon Medical Co Ltd (Brandon Medical, England), Integra LifeSciences Corporation (Integra LifeSciences, US), and Steris PLC (Steris, US) are a few major players in the specialty lighting market.

Top 2 Players in Specialty Lighting Market:

Signify (Netherlands)

Signify Holding is headquartered at Eindhoven, Netherlands. It is the global market leader with recognized expertise in the development, manufacture, and sale of innovative, energy-efficient lighting products, systems, and services. Signify Holding is the new name of Philips Lighting. It is a well-recognized brand in the lighting business. Innovation in LED products is one of the six key strategic priorities of the company. The company offers a diversified product portfolio for specialty lighting. Through this portfolio, it caters to all the applications of specialty lighting, including entertainment lighting, medical lighting, and UV purification. In 2018, the company introduced the Philips 25R Platinum lamp for entertainment, which is the brightest lamp in its class. The company has an extensive geographical presence, which, combined with proximity to clients, allows it to deliver a product portfolio that addresses the local market needs.

OSRAM (Germany)

OSRAM, founded in 1919, has its headquarters in Munich, Germany. The company operates through Specialty Lighting, Opto Semiconductors, and Lighting Solutions & Systems segments. It offers lighting solutions and specialty products featuring energy-saving technologies. As a part of its business strategy, OSRAM has increased its focus on the specialty lighting market. By adopting the strategy of reorganizing business segments and eliminating underperforming businesses, the company seeks to target business-to-business (B2B) and semiconductor markets, where there is a scope to earn higher profit margins. To increase its presence in the entertainment lighting segment, the company continuously participates in events and shows. For instance, in 2019, the company was the lighting partner of the 2019 Eurovision Song Contest; in 2018, it was lighting partner for the Giudizio Universale multimedia show in Rome.

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Attractive Growth Opportunities Logic Analyzer Market

The logic analyzer market is projected to reach USD 387 million by 2024. Increasing investment by test and measurement equipment manufacturers to launch new products in the electronics industry, and the rising demand for power-efficient and high-performance electronic devices are among the factors contributing to the growth of the global logic analyzer market. The rising number of features and modernization of vehicles in the automotive sector and high adoption of IoT-based devices in the electronics & semiconductor sector act as growth opportunities for the logic analyzer market players.

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Modular logic analyzers led logic analyzer market in 2019.

Modular logic analyzers accounted for the largest share of the logic analyzer market in 2019. The growth of this segment can be attributed to the wide acceptance of test instruments, such as modular logic analyzers, in functional and parametric validation of memory systems and other high-speed digital systems operating up to 4 Gbps. This type of analyzers comprises a chassis and various modules, including channel modules, and the number of modules is larger for the higher channel counts. Moreover, leading players offering modular logic analyzer include as Keysight Technologies (US), Fortive (US), National Instruments (US), and Teledyne LeCroy (US).

Electronics & semiconductor to account for largest share of logic analyzer market by 2019

The electronics & semiconductor sector is expected to lead the logic analyzer market by 2019. Logic analyzer manufacturers have numerous opportunities in the electronics & semiconductor vertical, on the back of the staggering size of the market for TV sets, video games, computers, smart metering, and cell phones. At the same time, electronics manufacturing is a highly competitive industry with challenging standards for reliability and performance; this drives the growth of the market for this vertical.

North America to account for largest share of logic analyzer market by 2019

North America is expected to lead the logic analyzer market by 2019. The market in North America is projected to experience increased traction during the forecast period due to the presence of several leading players such as Keysight Technologies (US), Fortive (US), National Instruments (US) in this region. Moreover, it is also a hub for automotive players. Ongoing technological advancements in its automotive and transportation sector are expected to increase the demand for logic analyzers in the region, thereby fueling the growth of the logic analyzer market in North America.

Keysight Technologies (US), Fortive (US), Rohde & Schwarz (Germany), National Instruments (US), Yokogawa Electric (Japan), Teledyne (US), Advantest Corporation (Japan), ARM Limited (UK), GAO Tek (Canada), Rigol Technologies (China), Saleae, Inc (US), Good Will Instrument Co., Ltd. (Taiwan), Zeroplus Technology Co., Ltd (Taiwan),  Qingdao Hantek Electronic Co., Ltd. (China), NCI Logic Analyzers (US), Scientech Technologies Pvt. Ltd. (India), OWON Technology (China), IKALOGIC (France), Red Pitaya (Europe), and GSAS Micro Systems Pvt Ltd. (India) are among the major companies operating in the logic analyzer market.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

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Growth factors of Temperature Sensor Market and in-depth analysis

The temperature sensor market is expected to be worth USD 7.48 Billion by 2023, growing at a CAGR of 5.9% between 2018 and 2023.

The increasing demand for temperature sensors, which are integrated into devices such as wearable bands, smartphones, and patient monitoring devices, from industries such as consumer electronics and healthcare is driving the temperature sensor market growth.

Also, growing demand for advanced and portable healthcare equipment is driving the temperature sensor market. With the onset of technologies such as advanced patient monitoring systems and portable health monitoring systems, demand for temperature sensors is on the rise. Along with this, consumer electronics and food & beverages are the key end-user segments for the temperature sensor market.

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The temperature sensor market comprises a network of players involved in research and product development, raw material suppliers, manufacturers, investors, and distributors. Players operating in the temperature sensor market include ABB (Switzerland), Texas Instruments (US), Analog Devices (US), Honeywell International (US), Amphenol (US), Global Mixed Mode Technology (Taiwan), Integrated Device Technology (US), Kongsberg Gruppen (Norway), Microchip Technology (US), ON Semiconductor (US), Endress+Hauser (Switzerland), Okazaki Manufacturing Company (Japan), Yamari Industries (Japan), STMicroelectronics (Switzerland), TE Connectivity (Switzerland), Gunther GmbH Temperaturmesstechnik (Germany), and Omega Engineering (US).

Scope of the Report

This report categorizes the temperature sensor market by product type, end-user industry, and region.

Temperature Sensor Market, by Product Type:

• Contact-type temperature sensor
• Bimetallic temperature sensor
• Temperature sensor IC
• Thermistor
• Thermocouple
• Resistive temperature detector (RTD)

• Noncontact-type temperature sensor
  • Infrared temperature sensor
  • Fiber optic temperature sensor

Temperature Sensor Market, by End-User Industry:

• Chemicals
• Oil & Gas
• Consumer Electronics
• Energy & Power
• Automotive
• Healthcare
• Food & Beverages
• Metals & Mining
• Advanced Fuels
• Aerospace & Defense
• Glass
• Pulp & Paper

Temperature Sensor Market, by Region:

• North America
• Europe
• APAC
• RoW

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:

Company Information:

Detailed analysis and profiling of additional market players (up to 5)

• Market for contact-type temperature sensor to grow at higher CAGR during forecast period

• Chemicals to account for largest size of temperature sensor market in 2018

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Key Players in precision-forestry market and strategies adopted by them

The precision forestry market was worth USD 3.9 billion in 2019 and is projected to reach USD 6.1 billion by 2024, at a CAGR of 9.0% from 2019 to 2024. The rapid growth of the precision forestry market can be attributed to the increasing forestry mechanization in emerging countries of Asia Pacific & Africa, rise in construction activities, growing demand for timber from sawmills, decreasing cost of forestry mapping technologies, prevention of illegal logging & deforestation; and increasing government support towards digitalization of forest management.

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Precision forestry has the potential to transform the forestry industry by making traditional forestry activities more efficient and economical. Also, government initiatives in many countries are helping foresters adopt advanced technologies and tools for site-specific management of the forest. The cost of precision forestry technology is expected to decrease in the next couple of years, mainly because of the declining prices of major hardware components, which is likely to contribute to the market’s growth.

Deere & Company (US) is a world leader in providing advanced innovative products and services for the precision forestry market. The company has a reliable brand name and a well-established distribution network, which makes it a leading market player. Product launches & developments are the key business strategies for their growth. For example, in October 2018, the company updated E-Series knuckleboom loaders. The company introduces new products regularly. In December 2017, the company launched a new smartphone application, TimberOffice Data Transfer App (TODT). This application simplifies data transfer from forestry machines to office. Continuous product development and launches are expected to strengthen the company’s market share in the precision forestry ecosystem in the future. The company also invests heavily in R&D activities to launch innovative products in the precision forestry market. For instance, the company’s average R&D expenditure as a percentage of its total revenue has been more than 5% in the last three years.

Ponsse (Finland) is engaged in developing and manufacturing innovative forestry harvesting systems. The company aims to become the market leader in forestry machines based on cut-to-length technology. It is involved in developing and launching innovative products as a key business strategy for its growth. For example, in August 2018, Ponsse launched PONSSE Bison Forwarder and PONSSE cobra and fox forwarders, which are environment-friendly and cost-efficient.

Komatsu Forest, a subsidiary of Komatsu Ltd. (Japan), is one of the leading manufacturers of forestry machinery. The company provides innovative forest machines and spare parts for modern forestry. It aims to be an indispensable partner for forest machine owners. The company is adopting strategies such as acquisitions and product launches for its growth. For example, in June 2017, the company launched simulators for harvesters and forwarders with virtual reality technology. In June 2017, the company updated its forwarders with a new technology called SmartFlow, which provides precision and improves the fuel efficiency of machines. The company also aims to expand its offerings through mergers & acquisitions. For example, it acquired Oryx Simulators in April 2018 to expand its operations in Umea, Sweden.

Tigercat (Canada) is one of the major companies operating in the precision forestry market. The company is continuously involved in designing and upgrading products to increase the efficiency and productivity of timber harvesting operations and silviculture management. It implements strategies such as innovative product launches, partnerships, and agreements for growth in the precision forestry market. For instance, Tigercat partnered with EkoNivaTechnika-Holding (Russia) in November 2018 for expanding its customer base in Russia. Similarly, it launched a new telematics system—RemoteLog—in July 2017. The new telematics system can track key machine performance metrics from desktop or tablet to maximize machine productivity and reduce operating costs.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Major Players in the Industrial Sensors Market | Rockwell Automation (Us) And Honeywell (Us)

The industrial sensors market is expected to be valued at USD 16.0 billion in 2018 and is likely to reach USD 21.6 billion by 2023, at a CAGR of 6.16% during the forecast period. The study involved 4 major activities to estimate the current market size for industrial sensors. Exhaustive secondary research was done to collect information on market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

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The major players in the industrial sensors market have primarily adopted the strategy of product launches to strengthen their product portfolios and expand the reach of their offerings to new clients. For instance, in November 2018, Honeywell launched a new connected gas detector designed to keep industrial operations safe while making setup, maintenance, and compliance reporting faster and easier by leveraging Bluetooth connectivity. Besides product launches, agreements, partnerships, and expansions are other key strategies adopted by companies to grow in the industrial sensors market.

Rockwell Automation (US) and Honeywell (US) are among the major players in the industrial sensors market. Rockwell Automation is a well-known and trusted company in the industrial sensors market. The company operates through 2 business divisions: Control Products & Solutions and Architecture & Software. The company is an industrial service provider with a strong portfolio including consulting, integration, maintenance, and mechanical support for process and discrete industries. The company had ~22,000 employees, worldwide in 2017. The company has its presence in more than 80 countries, serving industrial and commercial customers across the world. The company has 3 main strategic brands Allen-Bradley, Rockwell Software, and Rockwell Automation. Other than these 3 brands, the company has ~20 extended and acquired operating brands, namely, Anorad (US), CEDES (Germany), Hengsheng (China), ICS Triplex (UK), TESCH (Germany), and Pavilion Technologies (Africa).

Rockwell delivers a wide range of solutions and services for applications such as food & beverages, life sciences, oil & gas, mining, cement, metals, pulp & paper, and water & wastewater. The company offers start-to-end industrial services to its end users. The available solutions offer the company an advantage over its competitors for increased growth. The company adopts both organic and inorganic growth strategies. In the last 3 years, Rockwell Automation offered 2 products related to the industrial sensors segment.

Honeywell is one of the leading companies providing industrial sensors. The company has a wide portfolio of industrial sensors consisting of load sensor, torque sensor, pressure sensor, displacement sensor, and accelerometer portfolio satisfying a variety of customer needs. The company has a strong R&D capability. The company has ~150 research and engineering facilities located the US, India, Europe, and China. The company has invested ~5% of its sales in R&D in 2016, 2015, and 2014. The company has ~38,000 granted and pending patents. This offered the company to leverage the benefit from innovation for changing customer demand.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Global Industrial Valves Market trends and analysis - Forecast to 2023

The industrial valve market was valued at USD 67.49 billion in 2017 and is expected reach USD 85.19 billion by 2023, at a CAGR of 3.96% during the forecast period. The industrial valve market is likely to witness rapid growth in the coming years due to the increased need for industrial valves from oil and gas production-related facilities in GCC countries, elevated energy demand in APAC, smart city development initiative across the world, high demand for predictive maintenance techniques from manufacturing industries, and stringent environmental and safety regulations to make the energy sector more resilient.

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Market Dynamics

Drivers

• Increased need for industrial valves from oil and gas production-related facilities in GCC countries
• Elevated energy demand in APAC
• Smart city development initiatives across the world
• High demand for automation and predictive maintenance techniques from manufacturing industries
• Stringent environmental and safety regulations to make the energy sector more resilient

Restraints

• Lack of standardized certifications and government policies
• Slowdown in oil and gas extraction
• Downtime due to repair and maintenance

Opportunities

• Integration of IIoT technology in industrial valves
• Use of 3D printers in the manufacturing sector 
• Constant need for valve replacement
• Increase in the number of refineries and petrochemical plants
• Rise in the discovery of global offshore oil reserves

Challenges

• Minimization of lead times
• High cost of fabrication
• Existence of manufacturers providing low-priced valves 
• Duplication of technology

Asia Pacific Anticipated to Be the Leading Revenue Contributor to the Industrial Valves Market

APAC is projected to be the leading market for industrial valves during the forecast period. There is an increase in power generation, which is a direct result of the rapidly growing population and industrialization. The growth of energy & power, oil & gas, construction, chemicals, and pharmaceuticals industries and the increasing demand for new and improved wastewater treatment systems are some of the major factors fueling the growth of the industrial valves market in this region.

Some of the key manufacturers of industrial valves are Wier group (UK), Flowserve Corporation (US), Emerson Electric Corporation (US), IMI Plc (UK), and Cameron –Schlumberger (US).

Don’t miss out on business opportunities in Industrial Valves Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Laser marking market for packaging end-user vertical to grow at highest CAGR from 2019 to 2024

The overall laser marking market is expected to grow from USD 2.1 billion in 2018 to USD 3.0 billion by 2024, at a CAGR of 6.0% during the forecast period. Increasing adoption of laser marking across end-user verticals and enhanced performance of laser markers over traditional material marking techniques are the key factors driving the growth of this market.

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Laser marking market for packaging end-user vertical to grow at highest CAGR from 2019 to 2024

The market for the packaging end-user vertical is expected to grow at the highest CAGR from 2019 to 2024. Majority of the packaging companies have to display variable data, such as expiration dates and batch and serial numbers, as labels on the products. Laser markers are perfectly suited for marking at the end of the production process and can be used on several materials, including cardboard, paper, and polymer. Marking with laser systems is a contactless process, thus negating any mechanical stress on the packaging. These factors are likely to contribute to the highest growth rate of the packaging segment as compared to the other end-user segments.

Market in APAC expected to grow at significant rate from 2019 to 2024

APAC is expected to account for the largest share of the laser marking market during the forecast period. China, India, South Korea, and Japan are the major contributors to the growth of the market in APAC. APAC has been ahead in terms of adoption of laser marking products and solutions compared to other regions. The region’s huge population, increasing R&D investments, and growing manufacturing and electronics sectors are expected to drive the growth of the market.

Key Market Players

Key players in the laser marking market comprise companies operating at different stages of the market’s value chain. The key market players include Coherent (US), Han’s Laser (China), Trumpf (Germany), Gravotech (France), Jenoptik (US), Epilog Laser (US), 600 Group (UK), Mecco (US), Laserstar (US), and Novanta (US). Organic growth strategies, such as product launches, are the focus of many of the above companies.

Prominent players have adopted product launches, followed by mergers & acquisitions, as part of their key business strategy to strengthen their position in the laser marking market. For instance, in February 2016, Coherent (US), under its AVIA laser series, launched green nanosecond lasers, which can deliver an average power of up to 65 W at 532 nm. These lasers can be used for marking, cutting, scribing, and drilling.

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MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Energy management and smart grid application to hold the larger share of the power line communication market by 2023

According to the new market research report "Power Line Communication Market by Offering (Hardware, Software, and Services), Frequency (Narrowband, and Broadband), Application (Energy Management and Smart Grid, and Indoor Networking), Vertical, and Geography – Global Forecast to 2023", the power line communication market is expected to grow from USD 5.5 billion in 2017 to USD 11.1 billion by 2025, at a CAGR of 9.3% between 2017 and 2023.  High demand for power line communication technology-based products from the industrial and residential verticals primarily for substation communication, advanced metering, and indoor networking applications are most likely to be the key factors attributed to the growth of the market.

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Communication technologies play an important role in smart grids, as these technologies are required for obtaining data for the efficient control and distribution of energy. Substation communication and advanced metering were the main application areas that held a significant share of the power line communication marketin 2016. Micro inverter monitoring, vehicle communication and electric vehicle charging, and lighting control are the other emerging applications that are likely to spur the growth of the market during the forecast period.

APAC to be the fastest growing market for power line communication during the forecast period

Some of the key countries in the power line communication market in APAC include China, Japan, India, and South Korea. High economic growth witnessed by major developing economies in the region can be attributed to the rapid growth of the power line communication market in the region. Government efforts to expand the grid and build new power plants, wind farms, and solar farms in China and India are also likely to drive the demand during the forecast period. Heavy investments towards smart city infrastructure in China where this technology is used for smart grids and smart buildings for communication will be a likely factor to contribute to the growth of the market 

Some of the players operating in the power line communication market include Siemens (Germany), NETGEAR (US), ABB (Switzerland), AMETEK (US), Schneider Electric (France),  General Electric (US), Hubbell Power Systems (US), TP-Link Technologies (China), D-Link (Taiwan), Landis+Gyr (Switzerland), Belkin International (US), Corinex Communications (Canada), devolo (Germany), and Zyxel Communications (Taiwan).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Large-Scale Flow Battery Expected to Dominate the Market During the Forecast Period

According to the new market research report "Flow Battery Market by Type (Redox, and Hybrid), Material (Vanadium, Zinc–Bromine), Storage (Compact and Large scale), Application (Utilities, Commercial & Industrial, Military, EV Charging Station), and Geography - Global Forecast to 2023 ", the flow battery market is expected to grow from USD 230 million in 2018 and reach a value of USD 946 million by 2023, at a CAGR of 32.7% during the forecast period.

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The report covers the flow battery market segmented on the basis of type, material, storage, application, and region. The redox segment is expected to hold the largest size of the market based on type by 2023. The growth of this market is being propelled by the high demand for redox flow battery from various applications such as utilities, industrial, commercial, and military across the world.

The “vanadium” segment held a larger share of the overall flow battery market based on material. A vanadium-based flow battery is the most mature technology and is widely adopted in flow batteries. Currently, over 45 vanadium-based flow batteries have been installed worldwide for microgrid, grid, commercial, EV charging station, military, and telecommunications applications. Moreover, comparatively a higher number of flow battery provider employ vanadium material in their flow battery systems over other materials. However, the market for the zinc–bromine material is expected to grow at a significant CAGR during the forecast period. The major factors encouraging the zinc–bromine flow battery market are its benefits over vanadium material such as low cost and high availability.

The flow battery market for the utilities application is expected to grow at the highest CAGR during the forecast period. The utilities sector also holds the highest number of operational flow battery projects to date across the world. Further, there are various large-scale projects under construction that involve installations of flow batteries with capacity over a 1,000 MW.

North America held the largest size of the flow battery market in 2017. The high number of flow battery installations in the region, mainly in the US and Canada, attributes to the dominating position of the region in the market. The flow battery market in APAC is expected to grow the highest CAGR during the forecast period. By 2023, APAC is expected to account for the largest share of the market. This attributed to the growing number of flow battery projects for utilities, residential, industrial, and commercial applications in the region.In recent years, though flow battery has emerged as a potential technology that provides various energy storage advantages, it also encompasses a few technical drawbacks that hamper its market growth. The 2 major drawbacks of flow battery are lower power density and complexity of the structure. Flow batteries are more complicated than standard batteries as these require pumps, sensors, flow and power management, and secondary containment vessels to function. These components and its functional design make the battery comparably larger and heavier, which, in turn, restricts its application to large-scale areas, e.g., the utilities sector.

ESS Inc. (US), GILDEMEISTER energy solutions (Austria), Primus Power (US), RedFlow (Australia), redT Energy (UK), SCHMID (Germany), Sumitomo Electric. (Japan), UniEnergy Technologies (US), ViZn Energy (US), and EnSync Energy Systems (US) are some of the major companies operating in the flow battery market.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Passenger Transportation is expected to lead the hyperloop technology market

The report "Hyperloop Technology Market by Components (Capsule, Tube, and Propulsion system), Transportation Type (Passenger and Freight), and Geography (North America, Europe, Asia-Pacific, and Middle East & Russia) - Global Forecast to 2026", The hyperloop technology market is expected to be valued at USD 1.35 Billion in 2022 and is expected to reach USD 6.34 Billion by 2026, at a CAGR of 47.20% between 2022 and 2026.

The increasing global demand for fastest and cheapest mode of transportation, less expensive and easier-to-build infrastructure, transportation type with less land area requirement, and technology that is not vulnerable to earthquakes and other natural calamities are some of the significant drivers for the growth of the hyperloop technology market.

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Passenger Transportation is expected to lead the hyperloop technology market

Passenger transportation is expected to hold the largest share of the hyperloop technology market between 2022 and 2026. The transportation types include cargo/freight transportation and passenger transportation. Passenger transportation has the largest share of the overall hyperloop technology market owing to its extensive benefits in transportation industry. Hyperloop offers a fastest mode of passenger transport compared to current available transportation options such as train, airplane, etc. The cost of hyperloop travel is expected to be low compared to airplanes or bullet train that will attract more population. For instance, hyperloop travel from Los Angeles to San Francisco will take 30 minutes compared to 6 hours of road journey, with the ticket cost much less than the cost of an airplane ticket.

Hyperloop technology is expected to  commercialize in Slovakia and Czech Republic by 2024

Slovakia and Czech Republic are expected to see the operational hyperloop by 2024. The hyperloop route is expected to be built between Brno (Czech Republic), Vienna (Austria), and Bratislava (Slovakia). HTT have received government approvals from both the countries to check the hyperloop route feasibility, which is boosting the hyperloop route development in the region. After the feasibility study in these countries, actual construction will be initiated, which is expected to be completed by 2024.

Some of the major players in the hyperloop technology market are Hyperloop Transportation Technologies (US), Hyperloop One (US), TransPod Inc. (Canada), and SpaceX (US) among others.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Growth in Demand for industrial automation in manufacturing to drive the global smart manufacturing market by 2022

Smart manufacturing is a powerful disruptive force with the potential to restructure the current competitive landscape and produce a new set of market leaders. It is a combination of various technologies and solutions, which, if implemented in a manufacturing ecosystem, is termed smart manufacturing.

The smart manufacturing market is expected to be worth USD 170.78 billion by 2018 and USD 299.19 billion by 2023, growing at a CAGR of 11.9% from 2018 to 2023. Factors that drive the growth of the market include Industry 4.0, increasing use of industrial automation in manufacturing, government investments supporting industrial automation, rising emphasis on regulatory compliances, increased complexities in supply chain, and increasing demand for software systems that reduce time and cost.

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Increasing use of industrial automation in manufacturing to drive the global smart manufacturing demand by 2022

Amidst sluggish economic growth, increasing productivity and lowering manufacturing costs have become quite critical for manufacturers all over the world. On account of this, manufacturing companies are witnessing intense competition, and this trend is expected to continue during the forecast period. To better optimize resources and reduce costs, manufacturers are actively focusing on adopting industrial automation and enabling technologies.

Enterprise manufacturing intelligence (EMI) system analyzes manufacturing data collected from various sources across an organization. This information is then utilized to track performance against relevant metrics. Integration of advanced HMI solutions and connectivity technology with various industrial automation equipment has tremendously increased quality, productivity, and mobility of plant assets. Adoption of industrial automation equipment, such as industrial robots, field devices, and smart equipment, has increased significantly among manufacturers from various industries such as food & beverages, oil & gas, metal & mining, automotive, semiconductor & electronics, and aerospace & defense. Integration of solutions such as ERP, SCADA, PLM, and PLC with MES enhances efficiency of processing and gives effective output. Manufacturing execution system (MES) is capable of performing multiple activities and delivers efficiency by checking quality as well as production optimization. It tracks processes and procedures with the help of industrial automation. MES helps optimize production costs by reducing wastes, downtime, rework, and defects during manufacturing.

The popularity of cloud-based solutions is increasing rapidly as they help manufactures operate modern and advanced software without any need for separate om-premise infrastructure. Implementation of PAM software is a complex process as manufacturers deal with various production as well as automation assets that interact with each other. Cloud-based deployment offers manufacturers centralized process execution and coordination advantages in a cost-efficient package. A cloud-based WMS allows warehouse operators to track inventory more easily and ensure that necessary stock is available to fulfill customer orders. If there is any unpredicted demand for certain products, cloud computing makes it easier to respond quickly by enabling communicating with suppliers and staff to get the required stock.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441