Steel Cutting Tools market is anticipated to grow at a CAGR of 6.5% during the forecast period (2024-2031).Steel Cutting Tools are used to remove leftover material from a manufactured piece of metal by using the process of shear deformation. It isused for companies involved in the manufacturing, design, and equipment used to cut, shape, and form metal components.
Ballistic protection market is anticipated to grow at a CAGR of 5.9% during the forecast period (2024-2031). Ballistic protection is designed to protect personnel, vehicles and structures from fragments caused by explosions, and projectiles such as bullets, and can also help mitigate the effects of blast energy from the explosions.
Tow tractor market is anticipated to grow at a CAGR of 3.5% during the forecast period (2024-2031). Tow tractors are energy-efficient vehicles that are used in the transportation of goods and loads in warehouses, distribution centers, industries, and several other places. Towing tractors offer safety and high efficiency for picking and transportation operations of various types of goods such as stacked goods or unstacked goods, and roller caged goods.
Emergency location transmitter market is anticipated to grow at a CAGR of 5.9% during the forecast period (2024-2031). The market’s growth is attributed to the growing demand for advancements in technology across the globe. Technological developments, such as improved battery solutions, such as the alkaline-based solution featured in the ARTEX ELT 4000M, help to improve ELT reliability and effectiveness.
Homogenizer machine market is anticipated to grow at a CAGR of 4.2% during the forecast period (2024-2031) owing to the increasing demand from various end-user industries such as food & dairy, cosmetics, pharmaceutical, biotechnologies, and chemical industries. Due to its application in the reduction of particle size and disintegration of fat globules, the food and dairy processing industries are driving significant development in the market.
Hyperautomation market is anticipated to grow at a considerable CAGR of 19.5% during the forecast period. The high demand for hyperautomation from several end-user industrial verticals is a key factor driving the growth of the global market. According to the research of Salesforce and Vanson Bourne in June 2022, hyperautomation is a key priority for CIOs. The survey reveals that 80.0% of organizations will have hyperautomation on their technology roadmap within the next 24 months.
Substation monitoring system market is anticipated to grow at a CAGR of 9.2% during the forecast period (2024-2031). The growing adoption of a smooth and uninterrupted supply of power from generating locations to the load centers is the key factor supporting the growth of the market globally. To improve the reliability, efficiency, and financial sustainability of the electricity supply around the globe.
Thermistor temperature sensor market is anticipated to grow at a CAGR of 5.4% during the forecast period (2024-2031). The market’s growth is attributed to the increase in the automotive industry across the globe. The combination of the increasing integration of electronic systems and the desire for improved accuracy and dependability in vehicle components, the automotive sector is the primary motivation for thermistor temperature sensors.
Smart thermostat market is anticipated to grow at an exponential CAGR of 28.2% during the forecast period (2024-2031). The market’s growth is attributed to the increasing demand for smart thermostats driven by growing consumer preference for smart gadgets and energy-efficient solutions.. In smart thermostat solutions interoperability and integration are highly soght after.
Electromagnetic flowmeters market is anticipated to grow at a considerable CAGR of 5.7% during the forecast period (2024-2031). The market’s growth is attributed to the technological advances in connectivity across the globe. The integration of advanced communication options such as Modbus RTU and HART corresponds to the market's trend toward enhanced connectivity. The flowmeter's ability to provide several communication interfaces increases its attractiveness to companies seeking smart and integrated systems.
3D semiconductor packaging market is anticipated to grow at a considerable CAGR of 10.2% during the forecast period (2024-2031). An increased demand for 3D semiconductor packaging in microelectronic devices drives the growth in the 3D semiconductor packaging industry.The growing adoption of advanced packaging technology with improved efficiency, and less power consumption is the key factor supporting the growth of the market globally.
Industry 5.0 market is anticipated to grow at a CAGR of 17.8% during the forecast period (2023-2030). Industry 5.0 focuses on the collaboration of advanced technologies such as Artificial Intelligence (AI)/Machine learning (ML), big data analytics, Internet of Things (IoT) with human intelligence. Considering growing stringent environmental regulations, industry 5.0 helps businesses focus on sustainable manufacturing processes and products and improves personalization and resilience.
Industrial couplings market is anticipated to grow at a considerable CAGR of 4.5% during the forecast period. The rising industrialization and adoption of the Industry 4.0 revolution across the globe have created the demand for an industrial coupling market. The high demand for industrial coupling from the end-user industry is a key factor driving the growth of the global industrial couplings market. To meet the growing demand for industrial couplings key players are expanding their production facilities.
Robotic palletizer market is anticipated to grow at a considerable CAGR of 9.5% during the forecast period. The rising demand of robotics tool across several end-user industries to enhance efficiency, productivity and safety in the workplace is a key contributor to the growth of the global robotic palletizer market. In addition, lack of the rising labor cost isfurther driving demand for automation solutions. Further, rising investment by industries in robotics to cater the demand for automation.
Absorption chillers market is anticipated to grow at a CAGR of 11.5% during the forecast period (2023-2030). The growing adoption of district cooling coupled with the improving network is the key factor supporting the growth of the market globally. Advanced district-cooling networks can pair heating and cooling services to increase the net efficiency and flexibility of the entire energy system. According to the International Energy Agency (IEA), district-cooling networks exist in a range of climates and countries such as Finland, Spain, China, and others.
Iron recycling market is anticipated to grow at a CAGR of 7.7% during the forecast period (2023-2030). Iron can be recycled endlessly without losing any of its material properties. Steel is an iron alloy that can be recycled numerous times and used to create goods for a variety of end-user industries. The iron recycling market expanded as a result of the building industry's quick expansion and the increased need for steel in remodelling and renovation projects.
Milk homogenizer machine market is anticipated to grow at a CAGR of 8.4% during the forecast period. The market growth is driven by factors such as growing technological advancement in dairy industry and the key players are coming with the extended product range in the market. For instance, in August 2021, GEA extended its range of homogenizers with the GEA Ariete Homogenizer 3160 and the GEA TriplexPanda Lab Homogenizer for dairy, beverage, food, pharmaceutical, chemical and cosmetics industries. It features up to 1500 bars, with significantly increased flow rate capacity between 200 and 1200 bars.
High-speed wire EDM machine market is anticipated to grow at a CAGR of 7.6% during the forecast period. Owing to the recent technological developments and rising demand for precision machining across several industries, including aerospace, automotive, medical devices, and electronics, the market for high-speed wire EDM machines has been expanding rapidly. These machines provide several benefits, including high precision, great surface polish, and versatility in terms of working with various materials. Owing to their high levels of accuracy and precision, high-speed wire EDM machines are well-suited for producing complicated and complex items with close tolerances.
Cylindrical worm reducer market is anticipated to grow at a CAGR of 5.3% during the forecast period. The growing use of industrial automation across numerous industries is driving the demand for power transmission equipment, which includes cylindrical worm reducers. The need for dependable and effective power transmission systems such as cylindrical worm reducers is anticipated to increase as enterprises look to increase efficiency, decrease manual labor, and increase production.
Noise mitigation system market is anticipated to grow at a considerable CAGR of 7.3% during the forecast period. The noise mitigation system market involves the production, distribution, and installation of products and solutions designed to reduce unwanted noise levels in various settings, such as commercial buildings, residential areas, and industrial facilities. The market is mainly driven by the increasing awareness of the negative effects of noise pollution on human health and well-being, as well as on the environment.
Mobile engine filtration market is anticipated to grow at a considerable CAGR of 6.4% during the forecast period. The growth in the market can be attributed to the increasing demand for passenger vehicles and commercial vehicles, and the growing awareness about vehicle maintenance and engine health. The liquid filter segment is expected to dominate the market during the forecast period, owing to its ability to remove contaminants from fuel systems.
Water-jet propulsion device market is anticipated to grow at a considerable CAGR of 5.8% during the forecast period. Waterjet propulsion is a type of marine propulsion system that uses a high-pressure jet of water to move a vessel forward or backward. Waterjet propulsion systems are becoming increasingly popular in the marine industry due to their efficiency and versatility.
Testing, inspection, and certification market is anticipated to grow at a significant CAGR of 6.9% during the forecast period. The growing sensitivity of various governments toward a cleaner environment, favorable initiatives, rules, and regulations across the sectors such as healthcare and automotive is the major factor accelerating the growth of the market. For instance, in December 2021, the Ministry of Environment, Forest, and Climate Change achieved sustainable development goals (SDG) 12, 13, and 15 goals.
High-speed engine market is anticipated to grow at a CAGR of 5.3% during the forecast period. The growing expansion of power generation plants across the globe is the major factor driving the growth of the market. The demand for increased product offerings results in assist for updated facilities, equipment, and processes to safely handle customer requirements. Key players are investing to expand the power generation plant to cater to the demand.
The global automatic ticket vending machine market is anticipated to grow at a significant CAGR of 13.2% during the forecast period. The rise in the introduction of automatic ticket vending machines (ATVMs) by governmental bodies to minimize public gatherings and reduce the transaction time and waiting time of passengers to bolster the market growth. For instance, in 2019, the Government of India, Ministry of Railways, launched a One-touch ticketing facility through ATVMSs in 486 ATVMs over Western Railway and 92 ATVMs over Central Railway in Mumbai Suburban Railway Network.
The global industrial 4.0 market is anticipated to grow at a significant CAGR of 19.6% during the forecast period. Adoption of Artificial Intelligence (AI) and Internet of Things (IoT) in manufacturing sector, rising internet penetration, advancements in digital technologies are the prominent factors extended the market growth and new growth opportunities for Industrial 4.0. In addition, new product developments by prominent players is developing new revenue and business models to sustain in the industry and to fulfil growing market demands.
The global sortex machine market is anticipated to grow at a CAGR of around 5.7% during the forecast period. Sorting is the process of organizing items in a systematic order or grouping similar items together. Sorting Machines are machines that sort items into specified categories. Sorting Machines are used in food processing, waste management, packaging, distribution, and plastic industries. Improved automation technologies in sorting machines are driving up adoption as they lower the cost of operation, maintenance, and waste management. Sorting Machines can also significantly boost productivity, hence the market for Sorting Machines is likely to rise during the forecast period.
The global commercial aircraft video surveillance market is expected to grow at a significant CAGR 3.8% during the forecast period (2022-2028). With the rise in terror attacks and a slew of significant unlawful activities on both a national and international level, the pace of adoption of advanced security solutions is projected to accelerate, propelling the global commercial aircraft video surveillance systems market. After the World Trade Center attack on 9/11, and a slew of other incidents over the years, the concept of commercial aircraft video monitoring systems came into existence. The expanding number of passengers flying has increased demand for travel security solutions, which is driving up demand for commercial aircraft video surveillance systems.
The global commercial airport full body scanners market is expected to grow at a significant CAGR 8.4% during the forecast period (2022-2028). Terrorist concerns in the aviation industry are projected to be a major factor contributing to the adoption of commercial airport full body scanners. Increasing security concerns and cross-border crimes have prompted airports to upgrade their safety and security procedures. In terms of people screening, full-body scanners have emerged as a game-changing concept.
The global commercial aerospace oxygen system market is expected to grow at a significant CAGR 6.3% during the forecast period (2022-2028). When an aircraft is in operation, the aircraft oxygen system supplies oxygen to the passengers and crew. These systems are used when the cabin air pressure drops due to the aircraft operating above 12,000 feet or in an emergency. With air travel becoming more cost-effective by the day, the number of travellers is expected to skyrocket. The growing number of passengers on planes has resulted in a high demand for efficient oxygen systems. As the altitude rises, the partial pressure of oxygen lowers, making it more difficult to inhale or consume oxygen.
The global commerce cloud market is expected to grow at a significant CAGR during the forecast period (2021-2027). Commerce cloud solutions offers small and large retail businesses, to design, deploy, and manage its e-commerce capabilities. It allows customers to have a consistent omnichannel experience and meet their changing needs. Owing to the benefits that cloud services bring, merchants are being influenced to acquire and deploy their IT assets. Moving to the cloud allows for better capacity utilization as well as the financial benefits of converting capital expenditure to operating expenditure, resulting in a low total cost of ownership.
The combustion equipment market is expected to grow at a significant CAGR of 4.8% during the forecast period. The major factors expected to drive the growth of the global combustion equipment market during the forecast period are the large investment made with the goal of increasing power generation capacities, growing opposition to nuclear power, and rising concerns about volatile organic compounds and hazardous air pollution.
The global combined heat and power market is expected to grow at a significant CAGR during the forecast period (2021-2027). Combined heat and power generation is the process of producing both heat and electricity at the same time. This is accomplished by burning a variety of fuels, including oil, natural gas, and biofuels. The advantages of cogeneration over traditional methods are cost savings in manufacturing processes due to reduced superfluous energy consumption. Cost-cutting works as a driving force for this market since energy may be saved by utilizing waste resources.
The global combination starters market is expected to grow at a significant CAGR during the forecast period (2021-2027). The most common type of packaged motor controller is a combination starter, which serves as a vital input unit for industrial drives and controls. Combining a contactor with a motor protection circuit breaker or circuit breaker creates a motor starter that can be 1 or 2 type. Coordination 1 or 2 safely handle short-circuits by turning them off, ensuring the system's operational continuity. Combination starters are mostly used for motor control, disconnect, overload protection, and branch circuit protection. Furthermore, by isolating the motor and starter, the combination starter protects people from accidentally starting machinery and coming into contact with live parts.
The global combat management system market is expected to grow at a significant CAGR during the forecast period (2021-2027). Combat mission planning, troop coordination during combat operations, the placement of informational statistics on maps, and error investigation through the search for log modules are the key goals of the combat management system.
The global collision avoidance system market is expected to grow at a considerable CAGR of around 7.5% during the forecast years. The collision avoidance system is the industrial autonomous system that is useful in avoiding any collision by notifying the operator or automatically taking a decision on itself. These systems are installed in various items including automobiles, planes, trains, ships, and other vehicles to avoid impact. There are several collision avoidance systems in the market such as airborne collision avoidance systems (ACAS), train collision avoidance market (TCAS), ground proximity warning systems (GPWS), and obstacle avoidance systems.
The global shear blade market is anticipated to grow at a significant CAGR of 3.8% during the forecast period. The primary factors contributing to the growth of the market include the rising demand for fabricated metal products across the globe. The Shearing of sheet metal is a very important manufacturing process in various large, small, and medium-sized industries. Thus the demand for the shear blade has been increased in the industries.
The global heat exchangers market is anticipated to grow at a significant CAGR of 7.1% during the forecast period. The primary factor driving the market growth is rise in demand for heat exchangers in end-user industries such as chemical, food & beverages, automobile, and others.
The global food processing & handling equipment market is anticipated to grow at a significant CAGR of around 6.1% during the forecast period. Shift in focus towards convenience food is the primary factor driving the food processing and handling equipment market.
The global wire drawing machine market is anticipated to grow at a significant CAGR of 6.7% during the forecast period. The growing automobile industry is the key factor driving the demand for wire drawing machines globally.
The global industrial control and factory automation market are anticipated to grow at a significant CAGR during the forecast period 2021-2027. Industrial automation is a trending solution that uses monitoring and control systems to enhance the processing and performance of machinery and reduce manual tasks by replacing them with computers, robots, and information technologies.
The global robotic welding market is anticipated to grow at a significant CAGR during the forecast period. According to the American Action Forum, there will be a shortage of around 8.62 million skilled labor force by 2029 in the US. This will cause a loss of around $1.2 trillion in economic output.
The global LoRa gateway market is anticipated to grow at a significant CAGR during the forecast period (2021-2027). The market growth is majorly attributed owing to the rising adoption of IoT devices.
The global rehabilitation robots market is estimated to grow at a significant CAGR during the forecast period. The major factors contributing to the market growth include a significant prevalence of spinal cord injuries and a rising geriatric population.
The global process automation market is estimated to grow at a significant CAGR during the forecast period. Rising industrialization and the rising need for robotic process automation are two main factors driving market expansion.
The global security robots market is expected to grow at a significant CAGR during the forecast period. The COVID-19 crisis has increased the possibilities for the introduction of unmanned technologies in the business of private security and asset protection firms.
The global factory automation market is projected to grow at a significant CAGR during the forecast period. With the advent of AI and IoT, the market is primarily supported by an increasing inclination toward automated production processes.
The global industrial wireless in factory automation market is expected to grow at a significant CAGR during the forecast period (2021-2027). The major factors propelling the growth of the global industrial wireless in factory automation market include the rising factory automation due to Industry 4.0 and smart technologies enabled with IoT.
The global industrial wireless in discrete industries market is expected to grow at a significant CAGR of 11.2% during the forecast period (2021-2027). The major factors propelling the growth of the global industrial wireless in discrete industries market include the rising demand for the combination of machines placed in remote locations for functions such as data assimilation and analytics.
The global CNC router market is anticipated to grow at a significant CAGR during the forecast period. The major factor for the growth of the market is the increasing need for automation processes in various industries globally. CNC routers are used to improve the productivity of an organization along will the reduced number of manpower required.
The global vacuum pump market is projected to grow at a CAGR of 4.8% during the forecast period (2021-2027). The major aspect that drives the growth of the market includes the increased demand of vacuum pumps from a variety of applications including food & beverages, chemical processing, oil & gas, electronics, pharmaceutical, power generation, and others.
North America hydraulic equipment market is estimated to grow at a CAGR of 4.6% during the forecast period. The market was valued at nearly $10.1 billion in 2019, which is estimated to reach nearly $13.8 billion in 2026. Some pivotal factors encouraging market growth include the rising minerals mining operations and significant growth in the aerospace and defense industry.
India hydraulic equipment market is estimated to grow at a CAGR of 6.2% during the forecast period. Growth in the construction and mining industry is one of the factors accelerating market growth. As per the India Brand Equity Foundation (IBEF), India produces 23 non-metallic minerals, 95 minerals 4 fuel-related minerals, 55 minor minerals (including building and other minerals), 10 metallic minerals, and 3 atomic minerals.
Germany hydraulic equipment market is estimated to grow at a CAGR of 4.5% during the forecast period. Expansion of automobile production and significant aerospace and defense industry are some factors accelerating the market growth. As per the US Department of Commerce, in Europe, Germany has the third-largest aerospace & defense market, valued at $47.2 billion in 2018.
Europe hydraulic equipment market is estimated to grow at a CAGR of 3.8% during the forecast period. The market was valued at nearly $12.8 billion in 2019, which is estimated to reach nearly $16.6 billion in 2026. Some pivotal factors contributing to the market growth include significant automobile production and rising demand for mobile hydraulics.
Asia-Pacific hydraulic equipment market is estimated to grow at a CAGR of nearly 5.2% during the forecast period. The market was valued at nearly $16.3 billion in 2019, which is estimated to reach at nearly $23.2 billion in 2026. Some pivotal factors accelerating the market growth include a significant rise in construction and mining industry and expansion of oil and gas operations.
The global hydraulic equipment market is estimated to grow at a CAGR of 4.3% during the forecast period. The market was valued at nearly $44.1 billion in 2019, which is estimated to reach nearly $59.3 billion in 2026. Some pivotal factors encouraging the market growth include the rising construction and mining activities and expansion of oil and gas operations.
US smart manufacturing market is projected to witness considerable growth during the forecast period. The major factors contributing to the growth of the market include the continuous adoption of advanced technologies in the manufacturing industry, to cater the increasing production demands from the region.
UK smart manufacturing market is projected to witness considerable growth during the forecast period. The manufacturing sector makes significant contribution to the economy of UK; therefore, the advanced technologies are entertained by the companies in the industrial sector.
North American smart manufacturing market is projected to witness considerable growth during the forecast period. The major factors contributing to the growth of the market include the continuous adoption of automation in the manufacturing industry, to cater the increasing production demands from the region.
India smart manufacturing market is projected to witness considerable growth during the forecast period. The major factors contributing to the growth of the market include the rising government initiatives for driving the manufacturing industry in India through ‘Make in India’ initiative.
European smart manufacturing market is projected to witness considerable growth during the forecast period. The major factors contributing to the growth of the market include rise in end-use industries, such as chemical, automotive, and healthcare.
The Asia-Pacific smart manufacturing market is projected to witness considerable growth during the forecast period. The major factors contributing to the growth of the market include the continuous rise in the manufacturing industries, backed by the government initiatives, such as ‘Made in China’ and ‘Make in India’.
The European heat pumps market is anticipated to at a remarkable CAGR during the forecast period. With climate-friendly policies and stringent frameworks, the contributions from major forerunners such as Germany, France, Italy, Spain, Norway, and Sweden have made a significant impact in the global heat pumps market However, major economies like UK is yet to make an impact that can elevate the position of the industry in the region.
Asia-Pacific was estimated to be the largest heat pumps market in 2019 with China being the largest market contributing to a substantial percentage of the global revenue share. The attractive government subsidies and the stringent efforts taken towards improving the sustainability factor has contributed to the growth of heat pump installation in China.
A heat pump is a heating, ventilation, and air conditioning device, which is considered an alternative to conventional heating methods that transfer heat energy from the source of heat for space and water heating. It also uses a similar refrigeration type cycle used by the air conditioner to provide a cooling mechanism for residential, commercial, and industrial applications.
The US heat pumps market is anticipated to grow at a significant CAGR during the forecast period. The US was estimated to be the largest end-user for heat pumps, concerning revenue. The rising demand for heating and cooling applications alongside increasing utility bills are expected to drive the heat pumps market for the next 5 years, especially in the residential segments.
The North American heat pumps market is anticipated to grow at a remarkable CAGR during the forecast period. North America accounted for more than 25% of the global volume share for heat pumps in 2019 which is expected to witness growth following the pandemic in 2020.
Indian is expected to grow at the fastest rate in the heat pumps market owing to its sustainable policies, underpenetrated market scenario, rising urbanization rates, higher disposable income, and growth in the middle-class economy. Further, the business-friendly policies and growing construction sector can contribute to the growth of industrial and commercial heat pumps as well.
The industrial metrology equipment market is anticipated to grow at a CAGR of 9.3% during the forecast period. Industrial metrology equipment aids in capturing quality data for measurement, positioning, and inspection. Thereafter, the assessment of data with the latest technology and software provides manufacturers with the necessary information about the design and engineering processes and hence enables the achievement of higher levels of productivity and efficiency in production processes.
The US factory automation market is estimated to grow significantly during the forecast period. The market is driven due to growing automation in various industries for manufacturing and material handlings such as automotive, aerospace & defense, healthcare, and others.
The UK factory automation market is estimated to grow significantly during the forecast period. The major factors that support the growth of the market include growing industrial automation coupled with the rising manufacturing sector in the country.
The North American factory automation market is estimated to grow significantly during the forecast period. The growth of the market is attributed to the rising demand for human-robot collaboration in the manufacturing sector and the growing demand for connected devices in the industrial sector for overall cost reduction.
The European factory automation market is estimated to grow significantly during the forecast period owing to the significant adoption of the industrial automation systems such as DCS, and MES in various industries such as automotive, aerospace and others.
The Asia-Pacific factory automation market is estimated to grow significantly during the forecast period. The market is driven due to increasing adoption for human-robot collaboration in the manufacturing sector and the growing demand for connected devices in the industrial sector.
The US manufacturing execution system market is estimated to grow significantly during the forecast period. The market is mainly driven by various factors such as the significant demand for automation in the manufacturing industry in the country. Moreover, the robot density in the US manufacturing industry in 2017 reached over 200 robots per 10,000 manufacturing employees as compared to 97 in China, as per the International Federation of Robotics.
UK manufacturing execution system market is estimated to grow significantly during the forecast period. The increasing industrial automation is leading to the adoption of manufacturing execution across the various industrial application in the country. UK has witnessed an increase in the demand for industrial robots however the density of robots is below the global average (74 robots per 10,000 employees) in 2017.
The North American manufacturing execution system market is estimated to grow significantly during the forecast period. The growth of the market is attributed to the increasing application of these systems in end-user industries such as automobile, aerospace & defense, oil & gas and healthcare industry among others.
Indian manufacturing execution system market is estimated to grow significantly during the forecast period. The growing adoption of various government policies to drive innovation in the manufacturing sector such as digital India, and proliferation in various sectors such as IT, healthcare, and consumer goods had offered significant opportunities for the automation of India’s industrial sector.
The European manufacturing execution system market is estimated to grow significantly during the forecast period. The major factors that propels the market growth include growing automation in various sector coupled with increasing manufacturing activities in the country. Moreover, the growing application of manufacturing execution system in various industries including automobile, food & beverages, retail and e-commerce, aeronautical, and others is further augmenting the growth of the market.
Asia-Pacific manufacturing execution system market is estimated to grow significantly during the forecast period. The rising focus of the manufacturing companies towards automation and the significant growth of automotive, aerospace and other industries in Asia-Pacific regions are the major factors that propel the market growth.
The global market for automated test equipment is projected to have a considerable CAGR of around 3.4% during the forecast period. The growth of the market is driven by the increased adoption of Automated Test Equipment (ATE) in the automotive and semiconductor industry. A significant increase in the number of connected devices and consumer electronics, as well as companies increasing their focus on quality improvement and end-to-end testing solutions, will be likely to drive the market growth.
Japan industrial air compressor market is estimated to grow modestly at a CAGR of around 3.3% during the forecast period. Japan is among the developed economies around the globe. Cohesive government policies and initiatives to promote the manufacturing sector in the country are anticipated to offer significant growth opportunities for the industrial air compressor market in the country.
India industrial air compressor market is estimated to grow modestly at a CAGR of around 6.2% during the forecast period. This growth can be attributed to the cohesive government policies in the country to promote the manufacturing industry of India.
Germany industrial air compressor market is estimated to grow modestly, at a CAGR of around 4.3% during the forecast period. Germany has a considerable market share in the European industrial air compressor market due to the developed food & beverage industry and huge gas production capacity.
France industrial air compressor market is estimated to grow considerably, at a CAGR of around 4.2% during the forecast period. France is one of the leading economies and technologically advanced countries in Europe. France has a well-developed healthcare infrastructure and food & beverage industry, which offers growth to the industrial air compressor market in the country.
European industrial air compressor market is estimated to grow modestly, at a CAGR of around 3.8%, during the forecast period. The growth of the market is attributed to the rapid industrialization and increasing demand for energy-efficient compressors in the region.
China industrial air compressor market is estimated to grow modestly at a CAGR of around 5.6% during the forecast period. Rapid industrialization owing to the cohesive government policies to promote industrialization is making a significant contribution to the market growth in China.
Canada industrial air compressor market is estimated to grow modestly at a CAGR of around 4.1% during the forecast period. The growth of the market in the country is primarily attributed to the increasing natural gas production, power, and energy sector, and expanding pharmaceutical manufacturing units.
Asia-Pacific industrial air compressor market is estimated to grow at the fastest CAGR of around 5.3% during the forecast period. The growth of the Asia-Pacific industrial air compressor industry is primarily driven by China and India’s fast-paced economies and significant growth in the coal, and oil and gas sector.
The global market for material handling equipment is projected to have considerable CAGR of around 7.6% during the forecast period. The market growth mainly driven by the increasing demand for automated material handling equipment in various industries that include automotive, e-commerce, food & beverages, retail, pharmaceutical, and manufacturing industry.
The global market for manufacturing execution system is projected to have considerable CAGR of around 5.6% during the forecast period. The market growth mainly driven by the increasing demand of manufacturing execution system by the various industries for enhanced their manufacturing process.
The global sortation system market is projected to grow at a significant CAGR during the forecast period. Sortation system aids in identifying, separating, and conveying products to specific destinations, and are used across various industries such as food & beverage, pharmaceutical & medical devices, retail & e-commerce, and others.
The integrated drive system market is projected to grow at a considerable CAGR of 5.2% during the forecast period (2020-2026). The integrated drive systems offer energy efficiency benefits of the comprehensive and custom engineered product and service offerings, including gearboxes, couplings, motors and drives through a single source.
The global human-machine interface (HMI) market is anticipated to grow at a CAGR of over 10% during the forecast period. HMI is a dashboard used to connect a person to any machine, system, or device for the operation of that machine. In simpler forms, HMI can be understood as any screen that enables the user to interact with the device. The most common application of HMI is found in the context of an industrial process.
The vacuum filling machine market is projected to grow at a considerable CAGR of around 5% during the forecast period (2020-2026). Vacuum filling is a technology that is used to fill pasty products in the package. The vacuum filling machine market growth is driven by the improvement in the technology, growth in the industries in which it is used, such as the pharmaceutical, Cosmetic, and food industry.
The global ship-to-shore (STS) market is estimated to grow at a CAGR of nearly 6.2% during the forecast period. The major factors contributing to the market growth include rising maritime trade and increasing demand for port equipment. The increasing demand for maritime trade has led by rising international trade.
The global smart manufacturing market is growing at a significant CAGR of around 12.8% during the forecast period (2020-2026). The market is driven by the rising acceptance of automation in the manufacturing processes, backed by the increasing complexities in supply chain in the industries. In addition, increasing adoption of AI, IoT, industry 4.0, is offering growth opportunity to the smart manufacturing market.
The global gas analyzer market is estimated to grow at a CAGR of nearly 5.0% during the forecast period. The major factors contributing to the market growth include the rising oil and gas industry and rising investment in waster and wastewater projects.
The global advanced process control (APC) market is estimated to grow at a CAGR of nearly 9.5% during the forecast period. The major factors contributing to the market growth including rising automation across industries and rising oil and gas industry.
The global security robot market is projected to grow significantly during the forecast period. With the rise in automation in almost every industry, robots are rapidly being replaced for security purposes. Security robots are rapidly being adopted that offers mobile camera monitoring. Robots are widely accepted for patrolling in shopping malls, parking lots, college campuses, and other public venues.
The global conveyors market is anticipated to grow significantly during the forecast period. Conveyors are those assemblies that are utilized in transferring bulk materials. With the rapid globalization of the economy, the advancements in the e-commerce sector along with the international flow of goods is encouraging the adoption of conveyors across the industries.
The rotary pump market is expected to show a CAGR of more than 4.0% during the forecast period 2020-2026. Modest growth in the oil & gas sector, power generation, chemical, and pharmaceuticals are some of the major factors augmenting the market during the forecast period.
The hydraulic pump market is expected to show a CAGR of more than 5.0% during the forecast period 2020-2026. The function of a hydraulic pump is to convert mechanical energy into fluid power energy. Hydraulic pumps provide positive displacement that means the outlet flow is sealed from the inlet flow.
The global process gas compressors market is growing at a significant CAGR of around 3.4% during the forecast period (2020-2026). The market is driven by the rising demand for energy-efficient gas compressors and increasing concerns towards industrial safety.
The global automated poultry market is growing at a significant CAGR of around 7.1% during the forecast period (2020-2026). Automated poultry increases the productivity and controls the automation of the whole production process.
The global market for factory automation is projected to have considerable CAGR of around 9.2% during the forecast period. The market growth mainly backed by the increasing inclination towards automated manufacturing process with advent of AI and IoT. Additionally, there has been a range of government-led initiatives towards promotion of automation with private partnership.
The global rehabilitation robots market is estimated to grow at a CAGR of nearly 25.0% during the forecast period. The major factors contributing to the market growth include a significant prevalence of spinal cord injuries and rising geriatric population. As per the data published by the National Spinal Cord Injury Statistical Center, as of 2019, in the US, the new incidences of spinal cord injury (SCI) reported each year is 17,730 or 54 cases per one million people.
The global process automation market is estimated to grow at a CAGR of nearly 7.5% during the forecast period. The major players contributing to the market growth include rising industrialization and emerging demand for robotic process automation. Growing industrialization has been witnessed in emerging countries owing to the government initiatives to promote the manufacturing sector.
The global pneumatic tube system market is estimated to grow at a CAGR of nearly 6.0% during the forecast period. The increasing trend towards automation in hospitals and rising demand for material handling technologies across industries are the major factors driving the demand for pneumatic tube systems.
The global smart waste management market is projected to grow at a significant CAGR during the forecast period. Smart waste management refers to the management of waste in such a way that it causes the least pollution. Wastes create harm to the environment;however, the innovations have led to the development and introduction of smart waste management techniques, which has helped in efficiently reducing such wastes.
The global market for artificial lift systems is estimated to have a significant CAGR during the forecast period. Artificial lift systems are the technologies used to augment fluid production from the reservoir. These fall into several categories depending on the operating principle, design and energy source.
The global automated container terminal market is estimated to grow at a CAGR of more than 4.0% during the forecast period. The major factors contributing to the growth of the market include the significant rise in maritime trade activities and rising automation in ports.
The European automotive industry includes Original Equipment Manufacturer (OEM), auto-ancillary companies, vendors, and aftermarket vehicle and their parts dealers. The European automotive market was witnessing a modest growth rate from 2013. As per the International Organization of Motor Vehicle Manufacturers (OICA), around 20.80 million vehicles were sold in 2019 as compared to 20.69 million in 2018.
As per the International Organization of Motor Vehicle Manufacturers (OICA), North America is witnessing a downfall in the sales of the vehicle from the past three years. Around 20.8 million vehicles were sold in 2019 as compared to 21.1 million in 2018. As per the International Trade Administration, the automotive sector supports around 4.0 million jobs in the US. The US witnessed around $115 billion FDI in 2018.
The global DCS market is projected to grow at a considerable CAGR of 5.8% during the forecast period. The market growth is attributed to the growing demand automated controls systems in various industries such as Oil & Gas, power generation, chemical, and others.
The global industrial robotics market is estimated to grow at a CAGR of around 10% during the forecast period. Industrial robots assist in the manufacturing units and perform various industrial procedures such as assembling, processing, welding, labeling, packaging, and many others. There is an increasing demand for industrial robots owing to the increasing adoption of smart factory systems, in which industrial robots play an important role.
The global robot end-effector market is estimated to grow at a CAGR of over 12% during the forecast period. The market growth is attributed to the increasing adoption of robots in performing various tasks such as handling, assembly, welding, dispensing, processing.
Collaborative robot market is estimated to grow at a CAGR of 40% during the forecast period. Collaborative Robots or Cobots are robots that interact with humans in a shared space to work. These cobots work autonomously with safety assured by isolation from human contact. In addition, these cobots can perform various functions such as information robots in public spaces for purposes such as crowd analysis, to inspection robots equipped with cameras and visual processing technologies that can serve in a variety of applications such as patrolling perimeters of secure facilities, and logistics robots that transport materials within a building.
Geothermal heat pump (GHP) market is estimated to grow at a CAGR of 3.5% during the forecast period. Increasing demand for renewable energy technologies, rising industrialization across the globe, and increasing focus on energy efficiency protocols are the major factors leading to the demand for GHP systems. The GHP is a highly efficient renewable energy technology that is gaining significance in both commercial and residential buildings. These pumps are used for space cooling and heating, as well as water heating.
The global collaborative robots market is estimated to grow at a CAGR of 47% during the forecast period. The major factors contributing to the growth of the market include the rising demand for industrial robots and emerging demand in small and medium enterprises. Rising demand for industrial robots was reported across the globe, which in turn, is driving the growth of the market.
The global industrial air compressor market is anticipated to grow at a considerable CAGR of 4.3% during the forecast period. The major factors boosting the market growth include rapid industrialization across emerging countries and the rising demand for energy-efficient air compressors. In multiple industrial facilities, air compressors utilize significant amount of electricity as compared to any other kind of equipment. This results in inefficiency in compressed air systems. Energy savings from the improvement of the system can range from 20% to 50% or more of energy consumption.
The global warehouse robotics market is estimated to grow at a CAGR of 10.8% during the forecast period. Warehouse robots are gaining significance to carry out several activities in warehouses, such as pick & place, transportation, packaging, assembling & dissembling, and transshipment.
The global torque sensor market is projected to grow at a significant CAGR of over 6% during the forecast period. The major factor contributing to the growth of the market includes the growing application of torque in various end-use applications such as automotive, industrial, and others.
The global Industrial
sensors market is projected to grow at a CAGR of around 7% during the forecast
period. The market growth is mainly driven by technological development in
sensor technology coupled with the growing automation in various industrial
sectors such as manufacturing, oil & gas, chemicals, and others.
The global robotic pool cleaner market is estimated to grow at a CAGR of 12% during the forecast period. The major factors contributing to the growth of the market include rising swimming pool construction activities and the rising demand for automatic pool cleaners.
The global service robotics market is anticipated to grow at a CAGR of more than 15% during the forecast period. Service robotics plays a vital role in automation. Service robotics is currently is divided into two parts such as personal/domestic service robots and professional service robots that are used for performing daily tasks, non-commercial use, and others. The service robotics is designed to perform the set of tasks with accuracy and speed.
The industrial air compressor market is projected to witness a steady growth rate of 6.4% during the forecasted period 2016-2022. Growth of cross border oil & gas network along with rising demand for efficient and advanced air compressors are the key factors driving the global industrial air compressor market.