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Food storage containers are used for storing food products and increasing their shelf lives. In this observation presented by Market Research Future (MRFR), the global food storage container market is supposed to expand at 4.19% CAGR over the review period. It is anticipated that the market is poised to benefit from the thriving food & beverage industry.
Increasing income level on the global front has led to a rise in demand for convenience food. It is also likely to increase due to the rise in working population. The demand for convenience food is poised to catalyze the expansion of the food storage container market in the foreseeable future. In addition, the dairy products are witnessing expansion of product portfolios. New products such as plant-based ones, are being added to product lines. It is projected to boost the proliferation of the food storage container market in the years to come. Urbanization is another key factor driving market growth across the world. It has elevated hygiene levels which are also poised to boost demand for packaging. In addition, the introduction of new materials for packaging is anticipated to work in favor of the food storage and container market. Market Segmentation: By type, the food storage container market has been divided into rigid and flexible. Among these, the flexible segment is anticipated to exhibit a higher rate of growth over the next few years. Flexible packaging offers convenience and easy handlings which are poised to drive its demand in the upcoming years. By material, the food storage container market has been segmented into plastic, metal, paper & paperboard, and glass. The plastic segment is projected to hold a relatively larger share of the market. Plastic can be easily shaped and molded. This, in turn, is anticipated to expand the segment in the coming years. By product, the food storage container market has been segmented into bag, pouch, and containers. Among these, the containers segment is prognosticated to register a higher growth pace. Its expansion is driven by rising demand for dairy items, bakery products, and fruits & vegetables. By application, the food storage container market has been segmented into meat product, fruits & vegetables, and candy & confections. The candy & confections segment is expected to generate higher revenues than other segments. It is due to the rising demand for chocolates and candies and their easy availability. Regional Analysis: The geographical evaluation of the global food storage container market has been covered for the following regions – Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA). These segments are then studied by narrowing down to a country-level basis. Asia Pacific is expected to account for the most substantial share of the market and was valued at USD 92,084.6 Mn. It is supposed to be driven by rising demand for convenience food. Also, the rising hygiene level is poised to influence the food storage container market positively. Europe is also prognosticated to accrue considerable amount of revenue in the foreseeable future. Increasing mandates by governments regulating the packaging standards of food products are expected to catalyze the expansion of the market. Competitive Dashboard: Amcor and Bemis company Inc., Newell Brands, LOCK&LOCK Co., Ltd, Tupperware Brands Corporation, Hamilton Housewares Pvt. Ltd, Constar International Constar International Inc. (Plastipak Holdings, Inc.), Ball Corporation, Anchor Glass Container Corporation, Berry Global Inc., Crown Holdings, Inc., Associated Packaging, Inc., Graphic Packaging International, Inc., Avery Dennison Corporation, Graham Packaging Company, and ACCO Brands are few of the global players of the food storage container market.
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Flooring Market Share, Growth Analysis, Industry Trends, Key Players, Manufacturers, Sales4/28/2020 Resilient Flooring Market – Overview
The growth of the resilient flooring market 2020 is attributed to the need for material that can last for a longer duration without compromising on functionality. The insights into the construction industry are advanced by Market Research Future, which concentrates on reports on industry verticals that review the market options for growth. The market is expected to acquire a marvelous CAGR in the duration of the forecast period ending in 2024. The resilient flooring industry is expected to grow at an accelerated rate in the coming years as construction requirements vary in line with consumer preferences. Resilient flooring is also made from materials such as recycled raw materials, which is expected to gain more demand in the coming years as end-users prefer to opt for eco-friendlier options. Segmental Analysis The segmentation of the resilient flooring market has been conducted on the basis of application, product, and region. Based on the product, the resilient flooring market has been segmented into linoleum, vinyl composite tiles (VCT), luxury vinyl tiles (LVT), vinyl sheets, and others. Based on the application, the resilient flooring market residential, commercial, and industrial. On the basis of regions, the resilient flooring market is segmented into Europe, Asia Pacific, North America, and other regions around the world. Detailed Regional Analysis The regional examination of the resilient flooring market includes regions such as Europe, Asia Pacific, North America, and other regions around the world.In 2018, the Asia Pacific region was responsible for the major market segment of approximately 34%, shadowed by the European and North American regions. It has been noted that the APAC region may preserve its position in the market till 2024. Moreover, the Asia Pacific region is also projected to observe a top growth degree of growth in the resilient flooring market, due to the healthy development of the construction industry in emerging economies, such as South Korea, China and India which is additionally projected to surge the necessity for resilient flooring in the coming years. Competitive Analysis The diversification in inclinations of the consumers in the market is expected to boost the progress of the market in the forecast period. The innovation levels in the market are likely to rise in the coming years due to increased investment and availability of talent in the market. The regulations being put into operation by the government and trade specialists on the global level are indicative of the favorable they have on the international market development. The market is projected to acquire an increased momentum owing to the demand levels that are prevalent in the market. The stakeholders in the market are undertaking strategies that will accelerate and revitalize the growth of the market on a global scale. The revamping of the product range in the market is expected to open up new opportunities for advancement in the coming period. The development of assets of the supply chain is expected to set a favorable tone for the growth of the market in the forecast period. The distinguished contenders in the resilient flooring market are Mannington Mills, Inc. (US), Milliken & Company (US), IVC Group (Belgium), Mohawk Industries (US), Nora (Germany), Novalis (US), Unilin (Belgium), NOX Corporation, Shaw Floors (US), and Amtico International Limited (UK). Industry Updates: Jan 2020 The Resilient Floor Covering Institute, along with the SCS Global Services has announced a novel program called ASSURE CERTIFIEDTM to guarantee the continual development and approval of Rigid Core Luxury Vinyl Tile (LVT) that is to be advertised and retailed in the North American region. Rigid Core LVT is the quickest developing resilient flooring type. It has grown rapidly from a pioneering “multilayer” resilient model. Market Research Future (MRFR) has announced a new report on the global crane market. The report looks at the various factors affecting the global cranes market’s development, including its historical development, present conditions, and likely future growth potential. The global crane market is expected to grow at a strong 5.9% CAGR over the forecast period from 2017 to 2023. The crane market was valued at USD 32.10 billion in 2016.
Cranes are mechanical devices used to lift or carry heavy loads. They utilize a mechanical advantage to lift heavy loads and are mostly used in construction applications, in addition to being used in mining and oil and gas applications. Cranes are among the first construction tools built by mankind, with the basic principle behind gaining a mechanical advantage through cranes being a well-known fact since the time of Ancient Greece. With the introduction of motor power, design changes were made in subsequent years to make cranes equipped to deal with the sea change around them. The growth of the construction industry has driven the global crane market in recent years and is likely to remain the major driving factor for the global crane market over the forecast period. Technological innovations in cranes have resulted in the development of stronger, lighter, and more efficient cranes that can be controlled remotely or digitally. The increasing adoption of the Internet of Things is likely to further bring about a raft of changes in crane design over the forecast period, as cranes become smarter in line with the similar development of other construction equipment. Growth of the construction industry is likely to remain the key driver for the global crane market over the forecast period, as the construction industry is experiencing a steady growth in demand in developing as well as developed countries. The growing demand for infrastructure, in particular, is likely to be a major driver for the global crane market. Segmentation: The global crane market is segmented on the basis of crane type, application, and region. On the basis of crane type, the global crane market is segmented into mobile cranes, fixed cranes, and marine cranes. On the basis of application, the global crane market is segmented into construction and infrastructure, mining, oil and gas, and others. Regional Analysis: Regionally, the global crane market is segmented into North America, Europe, Asia Pacific, and rest of the world. Asia Pacific is likely to remain the dominant regional segment in the global crane market over the forecast period. The growing infrastructure construction activities in Asia Pacific countries such as China and India are likely to be a major driver for the global crane market, as China has undertaken massive amounts of infrastructure construction in the last few years to give itself an edge in regional geopolitics and trade, while India has also announced a number of infrastructure construction plans that are likely to draw a steady demand from the crane market. Increasing port construction activities in India are likely to lead to a growing demand from the crane market, as India is trying to increase its shipbuilding activity in order to increase its naval capacity. China, Japan, and South Korea are among the leading producers of ships in the world, and are likely to exhibit a steady demand from the crane market. The growing construction and shipbuilding industries in the region are likely to establish Asia Pacific as the leading regional segment of the global crane market over the forecast period. The region is also expected to exhibit the fastest growth in the global crane market over the forecast period. Europe is also likely to be a major regional segment for the global crane market over the forecast period due to the growing demand from the construction and shipbuilding industries. Competitive Analysis: Leading players in the global crane market include Cargotec Oyj, Liebherr Group, Terex Corporation, Xuzhou Construction Machinery Group Co. Ltd., Sumitomo Heavy Industries Construction Crane Co. Ltd., Shanghai Zhenhua Heavy Industry Co. Ltd., Manitex International Inc., Tadano Ltd., The Manitowoc Company Inc., and Konecranes PLC. Industry Updates: In January 2019, Manitowoc announced plans to reveal six new crane models at the bauma 2019 in April. The construction aggregate market 2020 is supposed to benefit from the rising investments in the construction industry. Increasing financial activities in the industry are supposed to boost the construction aggregate market size in the upcoming years. The forecast presented by Market Research Future MRFR asserts that the global construction aggregate market is supposed to mark 5.4% CAGR over the assessment period 2019 to 2024. It is also anticipated that the valuation of revenue earned is presumed to touch a decent mark increasing from USD 337.8 Bn in 2018. The market is expected to be at an advantageous position through the assessment period due to the rising adoption of developing technologies. It has been prognosticated that the utilization of the latest technologies is set to open new growth channels in the construction aggregate industry in the coming years.
Infrastructural development in developing regions is a key driver of the construction aggregate market. Governments are investing tax money and FDIs for the development of the infrastructure of their nations. It is anticipated to boost the growth of the construction aggregate market. In addition, material innovation in the industry for carrying out the construction projects is also projected to catalyze the expansion of the construction aggregate market in the foreseeable future. Rising residential and commercial applications of the Production is poised to influence the market favorably. Increasing projects regarding the construction of commercial spaces such as airports, hotels, etc. are supposed to augment the construction aggregate market in the upcoming years. Also, rising investments in the renovation of existing properties are projected to contribute to the expansion of the market over the review period. Apart from this, increasing demand for residential spaces is poised to accelerate revenue generation. Market Segmentation On the basis of material, the segments of the construction aggregate market profiled are crushed stone, sand, gravel, M sand, and others. Among these, the crushed stone segment is anticipated to dictate the expansion of the market and account for the highest share. It has been observed that stones are heavy materials and are economic to procure. Thus, the segment is assessed to witness exponential demand. Based on application, the Segmentation of the construction aggregate market covers infrastructure, commercial, residential, and industrial. Among these, the infrastructure segment is poised to register a higher growth rate and exhibit dominance over market. The growth of the segment is anticipated to be influenced positively by rising investments by governments in nations such as China & India for infrastructural development. Regional Analysis The geographical analysis of the global construction aggregate market is offered in this assessment to present a 360-degree view of the market. It presents an analysis based on the study of the following regions – North America, Asia-Pacific (APAC), Europe, and the Rest of the World (RoW). A country-level assessment of each of these segments is also offered in this MRFR report. Asia Pacific is the most potent regional market owing to the rapid development of economy in the region. It has been assessed and highlighted in the report that the construction aggregate market in the region is supposed to benefit from massive investments in infrastructural development projects. Also, rising disposable income has fueled demand for residential properties, which is expected to lead the expansion of the regional market. Competitive Dashboard LSR Group (Russia), Martin Marietta Materials Inc. (US), HeidelbergCement AG (Germany), Cemex SAB de CV ADR (Mexico), CEPSA (Spain), Vulcan Materials Company (US), CRH plc (Ireland), ROGERS GROUP INC. (US), Adelaide Brighton Ltd (Australia), and Eurocement Group are some of the main participants of the construction aggregate market. The global underwater concrete market Size is predicted to grow at a 9% CAGR over the forecast period (2017-2023), states the new Market Research Future (MRFR) report. Underwater concrete or UWC, simply put, is a special variety of high-performance concrete. This has been specially designed for enhancing constructability along with performance in water environments.
Underwater concrete is used to construct complex structures that are wholly or partly immersed in water such as swimming pools, bridges, dams, and other structures where the entire or part of the structure lies underwater. This form of concrete is used for preventing concrete segregation under water. Owing to this, numerous types of admixtures are utilized in order to maintain and enhance the durability and strength of the concrete. Various factors are propelling the underwater concrete market growth. These factors, as specified by the Market Research Future (MRFR) report, include the growing demand for high strength raw materials such as adhesives, sealants, cement, and admixtures in the construction industry, presence of several concrete manufacturers and contractors in India and also China, and increasing construction of tunnels and dams in the developing nations. Additional factors pushing market growth include growing advanced constructions such as swimming pools especially in developed nations, demand for marine installations such as harbor, underground port and shafts installation, increasing underwater metro projects, and the availability of advanced adhesives and admixtures. On the contrary, improper concrete mix design, coupled with, improper placement are factors that may hinder the underwater concrete market growth over the forecast period. Market Segmentation The Market Research Future report provides a wide segmental analysis of the underwater concrete market based on laying technique, product type, and application. Based on laying technique, the underwater concrete market is segmented into pump method, bucket placing, tremie method, and others. Based on product type, the underwater concrete market is segmented into geopolymer, slag based, fly ash based, and others. Based on application, the underwater concrete market is segmented into hydropower, tunnels, underwater repairs, marine, and others. Of these, the hydropower segment will dominate the market over the forecast period. Regional Analysis Based on the region, the underwater concrete market report covers growth opportunities and the latest trends across Asia Pacific (APAC), Europe, North America, and the Rest of the World. Of these, North America will spearhead the market over the forecast period. This is owing to the improved quality of underwater marine constructions in this region such as harbor installations, and bridge piers in rivers. Besides the use of underwater concrete in the hydropower plant construction is also driving market growth. The underwater concrete market in the APAC region is predicted to expand rapidly over the forecast period. This is owing to development in India as well as China and rapid industrialization. Besides, the undertaking of various underground metro projects is also boosting market growth. The underwater concrete market in Europe is predicted to have a healthy growth over the forecast period. This is owing to the increasing use of underwater concrete to construct hydropower generation plants. Moreover, rise in underwater construction in this region will also push market growth. The underwater concrete market in the Rest of the World will have a considerable growth over the forecast period on account of the flourishing construction industry in this region. Key Players Leading players profiled in the underwater concrete market report include Wieser Concrete Products Inc. (US), Underground Supply, Inc. (US), M-Con Products Inc. (US), HeidelbergCement Group (Germany), Conmix Ltd. (United Arab Emirates), Rockbond SCP Ltd (UK), Cemex S.A.B. De C.V. (Mexico), and Sika AG (Switzerland), and others. June 2019: Sydney will conduct the first trial to make roads with industrial waste made from steel manufacturing and coal-fired power stations, an initiative which can help in lowering the greenhouse gases and pollution emitted at the time of producing concrete for laying roads. This geopolymer trial project will result in new products which will create a difference in carbon emissions. As the report published by Market Research Future (MRFR) on the global concrete surface retarders market states, the market is likely to expand at a CAGR of nearly 4.5% and to touch USD 90 million across the forecast years of 2018 to 2023.
Market Insights The burgeoning construction sector is expected to aid the concrete surface retarders market in gaining global foothold. MRFR reveals that market has great potential to exhibit an expeditious growth in the years to come. Technical advancements, rise in urban population, and expansion of industrial space are causes that are likely to encourage the market growth. Concrete surface retarders are used in the creation of exposed aggregated surface and decorative sidewalks. They are also used for slip-resistant surfaces. The widespread utility of the market is expected to surge the market. The market is expected to capitalize on various advantages of concrete surface retarders. The ability to eliminate sandblasting is it major benefit that is popularizing the product among builders, which, in turn, is expected to impel its market growth. Concrete surface retarders also provide waterproofing surfaces at a lower rate. These factors are expected to boost the market. Segmental Overview The concrete surface retarders market is segmented by type, material, and application. Based on material, the market is bifurcated into inorganic and organic agents. About 60% share of the market share is occupied by the organic segment, which shows the command of the segment on the market. Changes in The organic agents segment is expected to massively impact the market growth. It is attributed to large-scale application of concrete surface retarders. By type, the market is divided into solvent-based and water-based. The water-based segment is projected to grow at a high rate. It is due to the growing popularity of water-based concrete surface retarders. The absence of biodegradability and volatile organic compounds (VOCs) in water-based concrete surface retarders are features that are gain attention of builders. By application, the market is classified into commercial and residential. The commercial segment is anticipated to expand at a high rate. It is due to the expansion of multinational companies that is leading to the rise in need for office spaces. Hence, increase in commercial constructions is expected to escalate the market growth. Regional Outlook The Europe concrete surface retarders market is expected to hold a global foothold in the years to come. Technological developments bolstering effective residential buildings construction in countries, such as the UK, Italy, Germany, and France, are expected to surge the regional market. Furthermore, the increase in investment by governments across the world, in development of private and public infrastructure is likely to wind in high profit for the market. The concrete surface retarders market in North America is expected to exhibit sustainable growth across the review period. In Asia Pacific, fourth industrial revolution resulted in expansion of corporate and industrial space. Alongside, the urban populace is also surging. These factors are expected to upscale the APAC market. Key Players MRFR enlisted key players of the concrete surface retarders market. They are; BASF SA (Germany), Sika AG (Switzerland), CEMEX S.A.B. de C. V (Mexico), Mapei AS (Italy), The Euclid Chemical Company (US), Parchem Construction Supplies, GCP Applied Technologies (US), Fosroc (UAE), W. R. Meadows (US), and RussTech, Inc. The market is highly competitive, which is expected to intensify in the years to come. Marketers are adopting several strategies that are likely to make the market trend up. Moreover, these key players as they expand global presence are expected to rise the profit margin. The global automotive diagnostic tool market, according to the report by Market Research Future (MRFR), is slated to record a remarkable market valuation at a CAGR of 5% over the assessment period.
Drivers and Restraints The global automotive diagnostic tool market is poised to have noteworthy growth over the forecast period owing to factors such as the growing complexity in the structure of vehicles along with intensifying incursion of electronics. This results in an augmented demand for tools and equipment that facilitate the accurate diagnosis of automotive faults. The other influential factors for the market growth are an increase in demand for automotive workshops, a proclivity of consumers towards high-end technologically advanced cars, and the association of OEMs with automotive diagnostic tools market players. The introduction of innovative vehicle models and severe government regulation for the lowering of vehicle emission levels have led to further advanced diagnostic scan tools by the diagnostic tool producers. On the other hand, the growth of this market is likely to be restrained by the high input costs and the immense need for maintaining a balance between the high cost and smart technology by the manufacturers. Segmental Analysis The global market for automotive diagnostic scan systems is segmented on the basis of the types of equipment, vehicle, product along with propulsion, and region. The types of equipment available in the market are exhaust gas analyzer, paint scanner, wheel alignment, vehicle emission test system, dynamometer, and headlight tester. Amongst these, the vehicle emission test system is projected to the witness the fastest growth, owing to the escalation in the stringent government norms regarding vehicle emissions. The vehicles that are operative in the market are passenger vehicles and commercial vehicles. Based on the product type, the automotive diagnostic scan tools market has been bifurcated into diagnostic hardware and diagnostic software. Based on the propulsion type, the automotive diagnostic scan tools market has been bifurcated into ICEs and electric vehicles. Regional Analysis Based on the region, the market has been segmented into North America, Asia Pacific, Europe, and the rest of the world. North America is one of the most significant regions in the global automotive diagnostic scan systems market and is slated to reach a substantial market share over the review period. North America is one of the major regions in the global automotive diagnostic scan tools market and is expected to witness substantial market share over the review period. This is attributed to the established automotive market in the region, with technological advancements and innovations constantly taking place in the region. The automotive diagnostic scan tools in North America has constant higher demand and this trend is expected to continue to surge over the assessment period. The Asia Pacific region is likely to experience the highest growth in the automotive diagnostic tool market. The key factors driving the growth of the automotive diagnostic tool market in the Asia Pacific region is the growth in preference of consumers for automobiles with advanced technology. The strict government standards that focus on regulating the emission levels from the vehicles, also contribute to the market growth. The developing countries in the region such as India, China, and Japan, are more disposed to adopt the advanced and easy-to-use diagnosis equipment and tools, which also driving the growth of the market over the review period. Competitive Landscape The key market players identified by MRFR in the global automotive diagnostic scan tools market includes Softing AG (Germany), Delphi Automotive PLC (Ireland), Denso Corporation (Japan), Continental AG (Germany), Robert Bosch GmBH (Germany), Actia SA (France), Kpit Technologies (India), AVL List GmBH (Austria), Hickok Incorporated (US), SnapOn Incorporated (US). According to a new report by Market Research Future (MRFR), the global automotive electronic control unit market is estimated to expand at 6.1 % CAGR during the assessment period (2017-2023) owing to the adoption of advanced safety systems. The automotive electronic control unit being of the most crucial parts of vehicles has gained attention among major vehicle manufacturers. One of the major revenue generating industries, the automotive industry has come up with various technological advancements, the automotive electronic control unit being one of them. The automotive electronic control unit comprises components such as brake control module, powertrain system, engine control unit, engine management system, and climate control system. The components work efficiently, transmitting the engine performance to electronic control unit.
Future Drivers and Constraints Affecting the Market Growth With the increasing sales of new vehicles, higher fuel efficiency and low emission, technological advancements, and strict government mandates associated with reducing vehicles emission are some of the major factors driving the market growth over the assessment period. Also, growing disposable incomes along with increasing demand for gasoline engine vehicles is anticipated to create major market opportunities. To reduce the risk of accidents, regulatory bodies of different regions and countries are mandating installation of anti-lock braking and automated safety systems in a vehicle, thus expanding the market growth for the automotive electronic control unit. For instance, the European Commission and China have launched New Car Assessment Program which mandates the use of lane departure warning and automatic emergency braking, therefore implementing wide-scale adoption of active safety systems. Moreover, the increase in production and sales of vehicles coupled with strict government mandates towards the safety of passengers is fueling the market growth over the assessment period. Also, developments associated with low-cost ECUs and growing demand for advanced features in vehicles is also a factor stimulating the market growth during the forecast period. Meanwhile, higher system cost is estimated to act as a hindrance to the market growth globally. Also, the rising complexities in the system are also inhibiting the market growth globally. While on the other hand, increasing demand for hybrid and electric vehicles and need for driver assistance features are estimated are estimated to offer several growth opportunities for the growth of the market. Global Automotive Electronic Control Unit Market: Segmental Analysis Globally, the market for automotive electronic control unit has been segmented on the basis of vehicle type, type, and region. The market has been segmented into climate control system, engine control unit, powertrain system, brake control module, engine management system, and others based on type. Among these, the segment for powertrain systems is anticipated to dominate the market during the assessment period. The engine management system is also estimated to showcase the fastest CAGR over the assessment period. The market has been segmented into commercial vehicles and passenger vehicles on the basis of vehicle type. Among these, the passenger vehicles segment is expected to dominate the market over the review period due to the increasing demand in automotive such as high-range and mid-range cars in the developing areas. Asia Pacific Dominates the Global Market Geographically, the market for automotive electronic control unit has been spanned across four major regions such as Europe, North America, Asia Pacific, and Rest-of-the-World. Asia Pacific has been estimated to dominate the global market for automotive electronic control unit, owing to the growing disposable income, increasing registration of new vehicles, and strict mandates on vehicle emission. Moreover, the increasing penetration of high-end luxury vehicles coupled with the increasing focus on production of automated vehicles with active and passive safety features and advanced driver assistance has led to the market growth in this region. North America has been estimated to hold the second position in terms of revenue, followed by Europe. Europe is the fastest growing region and is expected to expand at a staggering CAGR over the assessment period. Due to the presence of large number of automotive suppliers and manufacturers, Germany, Spain, and the U.K. have been experiencing strong economic growth. Also, significant development in consumer preferences and increasing technological user base are expected to spur the market growth. Industry News Hitachi Automotive Systems Ltd. has announced that its Advanced Driver Assistance System Electronic Control Unit was selected for use in Mitsubishi Motors Corporation’s eK Series vehicles, which refers to three models like the eK Custom, eK Wagon, and eK Space. The eK Series with improved preventative safety functions is a mini vehicle that went on sale in the month of May of 2018. Competition Analysis The prominent players operating the global market for automotive electronic control unit are Continental AG (Germany), Hyundai Mobis (South Korea), Robert Bosch (Germany), Lear Corporation (US), Hitachi Automotive Systems (Japan), Takata Corporation (Japan), Magneti Marelli (Italy), Pektron Group (UK), Panasonic Corporation (Japan), Denso Corporation (Japan), Delphi Automotive (UK), and others. Material Handling Equipment Market Size, Share, Statistics, Growth Insight, Regional Analysis4/21/2020 Global Material Handling Equipment Market – Overview
The development of warehousing facilities around the world is expected to motivate the material handling equipment market. Reports that deliver insights into the construction industry has been presented by Market Research Future, which creates reports on industry verticals that judge the market progress and options for growth. A CAGR of 7.5% approximately is expected to motivate the market’s progress in the forecast period. The escalating demand for optimization of resources and raw materials consumption is expected to benefit the material handling equipment market favorably. The innovation in the design and functions of material handling equipment such as heavy-duty material handling carts is expected to motivate the market in the coming years. Also, the integration of automation in material handling systems is foreseen to boost the progress of the market in the future. Segmental Analysis The segment-based overview of the material handling equipment market is conducted on the basis of operation, system type, application and region. Based on the operation, the material handling equipment market is segmented into transportation, assembly, packaging, distribution and others. On the basis of system type, the material handling equipment market is segmented into bulk load material handling system and unit load material handling system. Based on the application, the material handling equipment market is segmented into metal & heavy machinery, e-commerce, automotive, food & beverages, others. Based on the region, the material handling equipment market is segmented into North America, Europe, Asia Pacific and other global regions. Detailed Regional Analysis The regional assessment of the material handling equipment market encompasses regions such as North America, Europe, Asia Pacific, and other global regions. The Asia Pacific region is projected to develop considerably in the material handling equipment market. The development of the Asia Pacific regional market in the material handling equipment market can be accredited to the prosperous industrial sector in the region and the safety worries at workplaces, particularly in industries such as metal & heavy industries, automotive and food & beverage. The material handling equipment is also expected to facilitate the delivery and manufacture of materials chiefly in the e-commerce industry, thus guiding the progress of the material handling equipment market in the region. Competitive Analysis The reassessment of the logistics budget is expected to open up avenues of expansion in the upcoming years. The market is anticipated to be motivated by increased investment from various sources. The market is expected to be abreast of the trends that are prevalent in the market, which will aid in the long term growth of the market. Also, the enhanced access to resources from investment leviathans and venture capitalists is anticipated to authorize an encouraging development viewpoint in the market in the forthcoming period. The innovation scale of the product offering is improving at an accelerating rate, which will enable the advancement of the market in the approaching years. The aptness of manufacturing resources is estimated to furthermore replicate, evidently, on the overall growth development of the market. The strategic contenders in the material handling equipment market are KION Group AG (Germany), Jungheinrich AG (Germany), Eisenmann AG (Germany), Liebherr Group (Switzerland), Viastore Systems GmbH (Germany), Columbus McKinnon Corporation (U.S.), Crown Equipment Corporation (U.S.), Xuzhou Heavy Machinery Co., Ltd. (China) Hytrol Conveyor Co., Inc. (U.S.), and Toyota Industries Corporation (Japan). Industry Updates: Dec 2019 BYD India, a holding of the BYD Group, has now entered into the material handling equipment market space in India, making it the first Indian company to deliver MHE products with a lithium-ion phosphate battery in the nation. The company is expected to focus on third-party logistics, warehousing, and logistics companies. |