Market Forecast News: November 2017

Thursday 30 November 2017

Pressure Sensor Market is Growing With The Consumers Demand in Automotive & Transportation Industry: Grand View Research, Inc

The global pressure sensor market size is expected to reach USD 11,396.3 million by 2024 according to a new study by Grand View Research, Inc. The global Pressure Sensor Market was valued at USD 7,096.7 million in 2015. The market is anticipated to experience surges in growth owing to the utility of pressure sensors in diverse industry verticals. The emergence of pressure sensors in corporate in the Micro electromechanical Systems (MEMS) technology is further impelling growth in the industry and is substantially increasing the application scope of such sensors.

The demand for high-performance, cost-efficient, and reliable sensors has increased, leading to a higher spending by industry vendors in R&D activities. Technological proliferation and advancements in the nanotechnology and micro-technology present several opportunities, such as miniaturization, low power consumption, and mass production of such sensors.

The increasing adoption of pressure sensors in consumer goods and wearable devices, such as watches, tablets, and smart phones, are substantially contributing to the industry expansion. The use of MEMS pressure sensors in the industrial control applications and processes, HVAC applications, and level measurements is instrumental in energizing the industry prospects.

Browse Full research report on Pressure Sensor Market Analysis:
http://www.grandviewresearch.com/industry-analysis/pressure-sensors-industry

Further key findings from the study suggest:

The automotive sector emerged as the largest application segment for pressure sensors, accounting for 27.2% of the global market. Pressure sensors are widely used in the automotive industry for monitoring the pressure of crucial parameters such as brake, transmission, fuel, and oil. Such sensors are used in equipment or systems for monitoring the tire pressure, gasoline direct-injection systems, barometric pressure measurement, pressure measurement of exhaust gas recirculation, and side airbags
Pressure sensors in the consumer electronic application segment accounted for 16.3% of the overall market share. The increasing popularity of the wearable technology is expected to boost the demand for such sensors inthe consumer electronic industry. The small size and low-power consumption may give a competitive edge to the industry players. The increasing use in touch displays for smartphones and tablets is further estimated to drive growth in the consumer electronics application segment
The Asia Pacific regional market is anticipated to witness a remarkable growth over the forecast period. The regional market accounted for 33.84% of the global market share, owing to the increasing demand from developing countries such as India, China, and South Korea
Optical pressure sensors are immune to electromagnetic interference and are steadily replacing the electromagnetic pressure sensors. The high reliability and compact design enable optical pressure sensors to be used in miniaturized applications. The optical sensors technology segment generated about 13.1% of the total market revenue in 2015
The key vendors in the industry are undertaking several competitive strategies such as mergers & acquisitions to gain market share. The key players dominating the industry include ABB Ltd., Analog Devices, Bosch, Delphi Corporation, Emerson Electric Company, General Electric, Infineon,NXP Semiconductors, Siemens AG, and STMicroelectronics N.V.

Access press release of this research report by Grand View Research: http://www.grandviewresearch.com/press-release/global-pressure-sensors-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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Beryllium: Global Market to Grow at High CAGR in Upcoming Years – 2025

The global beryllium market is expected to reach USD 80.7 million by 2025, according to a new report by Grand View Research, Inc. The rising consumption of beryllium owing to its superior physical and mechanical properties is expected to drive growth.

Increasing penetration of the metal in aerospace and defense sector is expected to drive the product demand. Aerospace industry consumes around 15% of the overall beryllium that is produced due to the superior properties exhibited by the product including high stiffness and thermal & electrical conductivity.

Beryllium and its alloys are used to effectively manufacture functioning products that cater to a wide range of end-use industries such as aerospace, energy, automotive, medical, electronics, and defense. The growing defense industry in economies such as China, Japan, and India owing to high investments is expected to drive growth in the region.

The U.S. is a major consumer of the metal. The Department of Defense, U.S., has recognized high-purity beryllium as a critical material for the manufacturing of aerospace and defense components, owing to which, the product is stockpiled for defense-related applications in the event of national emergency. This is expected to lower the availability of the product for other applications including oil & gas and industrial components.

To request a sample copy or view summary of this report:
http://www.grandviewresearch.com/industry-analysis/beryllium-market

Further key findings from the report suggest:

Aerospace & Defense is the major application segment of beryllium & its alloys. It is expected to denote a CAGR of 3.2% over the forecast period due to the rise in defense-related expenditure, especially in countries such as the U.S., China, and India
Industrial segment dominated the market from 2014 to 2016; however, the market is expected to witness gradual decline owing to the increasing use of substitutes in the manufacturing of industrial components
North America accounted for over 90% of the overall consumption in 2016 owing to the rising consumption of industrial components in consumer electronics and defense sectors
Asia Pacific market is likely to witness fastest growth of 1.2% over the forecast period with Japan estimated to account for the highest consumption due to the rising use of industrial and consumer electronics and increasing defense spending
Materion Corporation is the major producer of the metal and exhibits a competitive edge over its counterparts owing to the magnitude of its production volume and extensive distribution channels

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Cold Storage Market Growth, Industry Trends To 2025

The global cold storage market is anticipated to reach USD 212.54 billion by 2025, growing at a CAGR of 12.4%, according to a new report by Grand View Research, Inc. The retail sector in emerging economies, such as India and China are increasingly getting organized. This trend among others is expected to augment the cold storage market demand over the forecast period. Government policies to de-regulate the entry of foreign player has increased the Foreign Direct Investment (FDI) in the organized retail sector.

In organized retailing, the licensed retailers sell products of various categories. Compared to the traditional stores the organized retail stores use better refrigeration and improved storage technology. Consumers are increasingly purchasing frozen foods from the organized retail stores. With the increased demand for the chilled and frozen foods and growth of the organized retail sector the demand for the cold storage market is expected to grow over the projected period. The organized retail supports different outlet formats depending on the proximity from residential and consumption cluster and spending power. The offline mode of the organized retailing is categorized into convenience stores, supermarket, and hypermarket based on the product range and surface coverage.

Given massive investments necessary for setting up the refrigerated warehouse business, the cold chain operator must make of significant volumes to attain the break-even point in a stipulated period. As a result, the growth of the cold chain services translates into the growth of the international organized retail market.

Lack of infrastructure necessary to sustain the cold chain is the major challenge for the industry players to expand cold chain in the emerging markets. Additionally, lack of power hook-ups for reefer trailers at transportation hubs and ports coupled with the lack of reliable power supply for cold warehouses further increases the operation costs. However, this also opens opportunities for the industry players to develop unique solutions or leverage alternative energy sources that can overcome the unreliable power supply in emerging markets. Furthermore, new transportation means, such as versatile refrigerated containers, are being developed to overcome the lack of adequate transportation facility. These solutions can provide access to international markets and open opportunities for farmers and small businesses in these regions.

To request a sample copy or view summary of this report:
http://www.grandviewresearch.com/industry-analysis/cold-storage-market

Further key findings from the report suggest:

Low carbon design, environmental auditing, and construction of energy efficient cold storage warehouses is anticipated to fuel the market demand
Growing supermarket shopping culture and rising consumer preference towards private labels are the key factors for the expansion of food retail chains across the globe
The public warehouse segment was valued at USD 48.70 billion in 2016
The frozen segment is anticipated to grow at a CAGR of 11.4%. The growth is attributed to the significant changes in living standards and food consumption behavior of consumers
The processed food application is anticipated to witness a high growth rate growing at a CAGR of 16.1% over the projected period
Asia Pacific dominated the market in terms of refrigerated storage capacity in 2016, with India leading the market with a cold storage capacity of around 131 cubic meters.
The global refrigerated warehouse capacity was estimated at 600 million cubic meters in 2016
Having realized that the cold storage market in Japan is increasingly being the saturated, the cold storage operators in the country would be looking for opportunities to increase the international trade
The key market players include Barloworld Limited (South Africa), VersaCold Logistics Services (Canada), Cloverleaf Cold Storage (U.S.), Henningsen Cold Storage (U.S.) among others

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Antifouling Coating Market to Maintain a Healthy CAGR in Coming Years

Antifouling coating Market are used to improve the stability and resilience of underwater surfaces of marine vessels such as cargoes, drilling rigs, passenger ships, and a yacht. The global antifouling coating industry is expected to witness growth on account of increasing demand for merchant fleets and navies and reach over USD 2.43 billion by 2022. New developments in ship-based logistics services in emerging economies including Middle East countries, Brazil, and India is estimated to fuel market growth for these coatings. Increasing need for embedded compact systems as prerequisite in deep water offshore reserves coupled with rising importance for Floating Production Storage Offloading (FPSO) in upstream oil & gas sector is anticipated to result in an up surging demand for antifouling paints.

Demand for global antifouling coatings was 84.3 kilo tons in 2014 and is projected to surpass 130.0 kilo tons in the next seven years. It is expected to grow at a CAGR exceeding 5.0% in the forecast period. Furthermore, demand for antifouling paints in shipping vessels was approximately 71.0 kilo tons in 2014. Production platforms and drilling rigs are projected to gain prominence attributing to the expansion of offshore natural gas production capacity in Saudi Arabia and Brazil over the forecast period.

Support from regulatory bodies in countries including China, Angola, Nigeria, Malaysia, and Brazil, in an attempt to encourage foreign investments at a national level is expected to have a positive impact on the offshore oil & gas market. In 2014, demand for production platforms & drilling rigs was over 13.0 kilo tons. In 2014, antifouling coatings accounted for nearly 80.0% of the total market share by volume owing to increasing use in shipping vessels due to their ability to save fuel from fouling organisms and extension of dry docking interval.

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http://www.grandviewresearch.com/industry-analysis/antifouling-coating-market

Asia Pacific is estimated to experience rapid growth at a CAGR of 6.0% over the forecast period in terms of volume. Initiatives by the Government of India in November 2015 to incentivize for increasing the productivity of shipbuilding at a national level is anticipated to provide new avenues for new entrants in the market.

North America is expected to witness growth over the forecast period owing to increasing production of unconventional sources such as tight oil and shale gas in Canada and the U.S. The market was 2.36 kilo tons in 2014. Technological advances in hydraulic fracturing are expected to encourage the use of FPSO vessels, which in turn is anticipated to propel demand.

Key manufacturers include Jotun A/S, PPG Industries, AkzoNobel N.V, Sherwin Williams, Hempel A/S, Nippon Marine and Kansai Paints. Increase in R&D expenditure to develop eco-friendly products to promote product differentiation while abiding by environmental friendly laws by regulatory bodies is expected to drive market growth. Furthermore, the establishment of new production facilities due to the expansion of application sectors in markets namely Russia and China is anticipated to propel demand over the forecast period.

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Nanosatellite & Microsatellite Market Swells Growth of $4.97 Billion By 2025

The global nanosatellites and microsatellites market is expected to reach USD 4.97 billion by 2025, according to a new report by Grand View Research, Inc. Evolving regulatory framework to accommodate small satellite systems for the development of the space industry is expected to propel market demand.

Nanosatellites and microsatellites have proven to be dynamic for embracing new developments in various sectors such as weather information and climatic research, multimedia communications, telephone and television, data distribution, transportation and logistics, navigation, safety, security, and rescue. As these satellites have paved the way for cost-effective earth observation missions along with the development of small launchers and small ground stations connected with cost-effective data distribution methods, industry participants have shifted their focus toward developing nanosatellites and microsatellites.

Moreover, CubeSats, which are smaller than nanosatellites are witnessing a rise in popularity due to their shorter time to orbit and lower manufacturing costs. With the emergence of nanosatellites and microsatellites, there has been a development of a new niche market dedicated to small satellites. Several new players are embracing miniaturized technologies along with a range of advanced launch technologies.

Furthermore, to develop sustainability in the market, players are maintaining a steady flow of microsatellite launches for widening their customer base. Increasing demand from economies such as India and Japan is contributing to the growth of the nanosatellite and microsatellite market. For instance, in the wake of miniaturization, Japan is developing strategies to tap the demand for compact satellites and aircraft.

To request a sample copy or view summary of this report:
http://www.grandviewresearch.com/industry-analysis/nanosatellite-microsatellite-market

Further key findings from the report suggest:

The nanosatellite segment is expected to dominate the market over the forecast period, with a projected CAGR of close to 22% from 2017 to 2025
The commercial application segment is expected to grow at a CAGR of more than 20% over the next eight years, fueled by the growing use of these satellites in automotive navigation systems and by space agencies
Asia Pacific is expected to be fastest-growing region, primarily attributed to the increasing government support for digitization and the growing initiatives for developing space programs
The technology and academic training application segment is expected to grow at a CAGR of 13.5% over the forecast period
The key players in the industry include Dauria Aerospace, GomSpace Group AB, Innovative Solutions in Space, Sierra Nevada Corporation, and SpaceQuest Ltd.

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Masterbatch Market is Growing at CAGR of 6.6% By 2025

The global masterbatch market is expected to reach USD 15.81 billion by 2025, according to a new report by Grand View Research, Inc. The market is anticipated to grow at a CAGR of 6.6% primarily driven by increasing replacement of metal by plastic is projected to fuel the market growth. In addition, rising demand from the European region is further expected to propel the demand over the forecast period.

In terms of revenue, color masterbatch was the largest segment in 2016 and the trend is anticipated to continue at a growth rate of 7.1% over the forecast period. Increasing need for improving the surface appearance of plastic components in automotive, building & construction, and consumer goods is expected to contribute to the growth. Additive masterbatch is being widely used on account of various properties it imparts to plastics such as antistatic, antifoaming, antioxidant, antimicrobial, thermo-stabilizer, barrier properties, metal deactivators, antiblock, flame retardant, UV stabilizer, oxygen scavenger, and abrasion resistance. The growth of packaging sector, especially plastic packaging, is anticipated to drive the masterbatch demand.

Masterbatch is used in various end-use industries, such as packaging, building & construction, consumer goods, automotive, agriculture, as it imparts useful functional properties such as smooth surface finish and desired hardness. The increasing spending capability of customers toward purchasing attractively packaged consumer goods is expected to trigger the need for various plastic components, which use masterbatches to improve the appearance and other properties. These factors together are anticipated to boost masterbatch market demand over the forecast period.

To request a sample copy or view summary of this report:
http://www.grandviewresearch.com/industry-analysis/masterbatch-market

Further key findings from the report suggest:

Color segment is expected to experience the fastest growth, in terms of value, at a CAGR of 7.1% from 2017 to 2025 as color masterbatch finds application in various end-use industries such as packaging, building & construction, consumer goods, automotive, and agriculture
Polyethylene emerged as the largest carrier polymer segment, in terms of revenue, in 2016 and is estimated to be valued at USD 5,461.8 million by 2025. The growing popularity on account of useful properties of HDPE, LDPE, and LLDPE is projected to drive the growth.
Packaging was estimated as the largest end-use industry due to different types of industrial, customer, and retail packaging segments across various geographies
The U.S. masterbatch market, in terms of revenue, was valued at USD 1,624.3 million in 2016 and is estimated to reach USD 2,920.3 million by 2025. The consumer goods industry in the U.S. is projected to witness the fastest growth over the next eight years owing to the increasing demand from customers.
Key players including A. Schulman, Inc., Ampacet Corporation, Cabot Corporation, Clariant AG, Plastiblends India Ltd., and Global Colors Group have a prominent presence in the global masterbatch market

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Transdermal Drug Delivery System Market Poised for Steady Growth in the Future

The global transdermal drug delivery system market is expected to reach USD 81.4 billion by 2024, according to a new report by Grand View Research, Inc. The unprecedented global shift in the adoption of unhealthy lifestyles is presumed to be responsible for the high prevalence of chronic diseases, such as cancer and diabetes, which is expected to drive the clinical urgency to incorporate transdermal drug delivery systems in the future treatments. Moreover, the rising geriatric population base, which is highly susceptible to developing the aforementioned chronic diseases are expected to propel the demand for highly efficacious pharmacological drugs.

The market is driven by technological advancements in transdermal drug delivery devices, which is anticipated to serve the market with future growth opportunities. These advancements include advanced, third-generation, transdermal drug delivery technologies including iontophoresis, ultrasound, and microneedles or mechanical arrays. These technologies serve as effective transdermal drug diffusion alternatives that are capable of improving overall patient health and quality of life. For instance, the advent of matrix-controlled transdermal drug diffusion comprising a drug reservoir and a thermo effector, enhances skin permeation and enables controlled drug delivery.

To request a sample copy or view summary of this report:
http://www.grandviewresearch.com/industry-analysis/transdermal-drug-delivery-systems-industry

Further key findings from the study suggest:

The cardiovascular application segment is expected to exhibit growth at a significant CAGR of over 12.0% during the forecast period. This is a consequence of the high clinical urgency to curb hypertension and the need for precise drug delivery at a constant rate, which has led to the development of transdermal drug delivery systems.
The mechanical array in the technology segment is anticipated to witness an exponential CAGR of over 12.5%. The lucrative growth is attributed to the availability of different forms of microneedle transdermal systems, such as solid, hollow, and dissolving microneedles, as per the suitability and needs of the patients.
In 2015, North America dominated the overall Transdermal Drug Delivery System Market at over 50.0%. The consistent number of product launches being undertaken and the continual participation of the prominent players in conducting clinical trials are anticipated to promote the incorporation of transdermal drug delivery systems.
The key players are increasingly involved in initiating collaborative strategies and frequent product launches to capture a larger market share. For instance, in September 2014, Noven Pharmaceuticals, Inc. received the FDA approval for Minivelle, estradiol transdermal system to be used for the prevention of postmenopausal osteoporosis. Furthermore, in June 2015, Boehringer Ingelheim GmbH sponsored the clinical trials, which investigated the bioequivalence of transdermal clonidine administration.

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Wednesday 29 November 2017

Rapid Increase in Aseptic Packaging Market - Key Factors, Market Segments Regions and Industry Forecasts Analysis to 2024

The global aseptic packaging market is expected to reach USD 85.47 billion by 2024, according to a new report by Grand View Research, Inc. Aseptic packaging allows the end –users to meet the consumer demand for sterile and safe food and pharmaceutical products. The technology offers extended shelf stability at ambient temperature, which eliminates the need for refrigeration. As a result, aseptic packaging is expected to witness high demand from the foodservice entities and retailers.

The aseptic packaging manufacturers supply their product either in the form of rolls or blanks. The roll-fed filling technique dominates the market and has been adopted by the major manufacturers such as Tetra Pack. Whereas, companies such as Elopak and SIG have adopted the blank filled systems. These two technologies are not interchangeable since the process and equipment associated with these two methods are different. As a result, buyers are unable to switch from one process to other. High capital investment is likely to be a key restraining factor for the industry.

Investment, Divestment, capacity expansion and new product development are the key strategies adopted by the major players in order to strengthen their position in the market. The industry players are likely to invest more on R&D and innovation owing to continuously changing demand from end-users in terms of product quality, performance, and appearance. The major manufacturers are likely to adopt acquisition strategies in order to meet the rising consumer demand and cope with the new technologies.

To request a sample copy or view summary of this report:
http://www.grandviewresearch.com/industry-analysis/aseptic-packaging-market

Further key findings from the report suggest:

The food was the key application segment for the industry and is expected to grow at a CAGR of over 11% over the next eight years. The process is carried out at lower temperatures. Thus the texture, appearance, flavor and nutritional value of the products remains unaffected. In addition, light weight and recyclability offered by aseptic packaging are expected to have a positive impact on the industry growth over the forecast period.
Prefilled syringes demand in the industry was valued over 4.5 billion in 2015 and is expected to grow at a CAGR of over 11% from 2016 to 2024. Advances in biotechnology and rising demand for biologics is anticipated to drive demand over the eight years. The technology offers safety against drug degradation and contaminants. Furthermore, it eliminates the need for refrigeration and thus lowering the cost associated with the maintenance of the product.
Asia Pacific is expected to be the fastest growing market owing to rapid growth of food and beverage packaging sector in the region. China was the largest market for aseptic packaging in Asia Pacific and accounted for over 50% of the regional demand in 2015. Increasing consumer disposable income and changing dietary habits in countries such as India, China, Japan, and Korea are expected to raise demand for packaged ready-to-eat meals, frozen meat, and juices, which is anticipated to have a positive impact on the industry growth over the projected period.
The key players in the industry are The key players in the market include Robert Bosch GmbH, Tetra Pak International S.A., Greatview Aseptic Packaging Co., Ltd., Schott AG, SIG Combiboc Obeikan, Reynolds Group Holdings Limited, and Agropur Inc.

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Marine Propulsion Engines Market Poised for Steady Growth in the Future

The Global Marine Propulsion Engines Market is expected to reach USD 10.95 billion by 2020, according to a new study by Grand View Research, Inc. Significant modernization in marine propulsion as a direct consequence of increased demand for operationally dependable and financially efficient ships is expected to drive the marine propulsion engines market. The shipping industry has started to focus more on reducing fossil fuel consumption by developing electric motors which also help increase energy efficiency.

The market is expected to be hindered by regulations of the International Convention for the Prevention of Pollution from Ships (MARPOL), which apply principally to the protection of the marine environment and prevention of contamination by oil, chemical spills, sewage, marine species, and air pollution by engine exhaust gases. With the advancement in technology and increasing awareness pertaining to environmental conservation, development of propulsion systems that run on alternate fuels and with minimal emissions has garnered special importance.

Although wind and solar energy have gained prominence as auxiliary propulsion sources in the marine propulsion engines market, they are inadequate to suffice the power requirements for primary propulsion purposes.

To request a sample copy or view summary of this report:
http://www.grandviewresearch.com/industry-analysis/marine-propulsion-engines-market

Further key findings from the study suggest:

High reliability and easy operability have resulted in diesel engines being the most extensively used to meet the primary as well as auxiliary ship propulsion needs in the marine industry. Presence of well-established spare part and repair networks globally coupled with availability of trained engineers and established training facilities has further driven the diesel marine propulsion engines demand.
Depleting conventional and shale gas reserves have led to the increase in the demand for liquefied natural gas (LNG) as a marine fuel which involve dual fuel diesel (DFD) engines as prime movers. Wind energy and solar energy have gained prominence as auxiliary power generating sources as they do not emit harmful pollutants. Although steam turbine systems were traditionally used as prime movers, they have been increasingly substituted by diesel and dual fuel diesel (DFD) engines. Steam marine propulsion engines are still used in niche applications such as coal carriers and LNG carriers.
Asia Pacific accounted for a substantial share of the overall marine propulsion engines market revenue in 2013, which can be attributed to significant investments by countries in the Far East such as China and South Korea. North America is among the highest adopters of LNG as a propulsion medium.
Leading marine propulsion engines manufacturers such as Wärtsilä, Rolls-Royce, MAN Diesel, Caterpillar, and Cummins adopt global multi-sourcing strategies to explore alternative sources of supply. Marine propulsion engines manufacturers have dedicated professional sales staff having expertise in the company’s entire product lines for identifying specific and tailored solutions. The marine propulsion engines market is characterized by frequent mergers and acquisitions in a bid to achieve competitive advantage.

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Market Outlook of Global Automotive Brake System Industry Analysis and Foresight Report to 2025

The global automotive brake systems market is expected to reach USD 31.11 billion by 2025, according to a new study by Grand View Research, Inc. The market is highly influenced by vehicle production as a brake system is an integral part of a vehicle. The rising vehicle production and sales, owing to growing disposable income, is expected to propel the market growth.

The primary objective of brake systems is to reduce vehicle speed and halt the vehicle. However, a moving vehicle is subject to numerous uncertainties. The use of advanced systems ensures vehicle halt and enables consistent vehicle control, which proves vital in avoiding an accident, thereby, ensuring optimum vehicle safety.

The increased use of electronic components is one of the key contributing factors for market growth. The use of electronic components has led to the development of technologies such as Antilock Braking System (ABS), Traction Control System (TCS), Electronic Stability Control (ESC), and Electronic Brake-Force Distribution (EBD). The adoption of these advanced technologies, coupled with growing popularity of vehicle safety among consumers, is presumed to drive the market. However, the high cost of integration is the primary restraining factor for the widespread adoption of advanced braking systems. Thus, a majority of these systems are integrated solely in premium and luxury vehicles.

The key factor driving the growth of the automotive brake systems market is the growing stringency in vehicle safety norms. Automotive associations across the globe are working toward improving vehicle safety. For instance, in 2016, the U.S. Department of Transportation's National Highway Traffic Safety Administration (NHTSA) and Insurance Institute for Highway Safety (U.S.), along with 20 prominent vehicle manufacturers, have planned to incorporate Automatic Emergency Braking (AEB) systems as a standard feature in all new cars from September 2022. Similarly, in 2015, the Ministry of Road Transport and Highway (MoRTH), India, mandated the implementation of ABS in all commercial vehicles. Thus, the market is expected to grow steadily over the forecast period. However, lack of considerable efforts toward curbing counterfeiting of brake-related products is hampering the growth of the market and compromising vehicle safety.

To request a sample copy or view summary of this report:
http://www.grandviewresearch.com/industry-analysis/automotive-brake-system-market

Further key findings from the study suggest:

The disc brakes segment is projected to grow at a higher CAGR than drum brakes, owing to its enhanced braking performance and heat dissipation characteristics
The passenger cars segment is anticipated to grow at the highest CAGR of 5.9% over the forecast period, owing to the rising passenger car sales in developing economies such as China and India
The growing concerns over non-exhaust emission, caused due to brake abrasion, have propelled the need for eco-friendly brake materials
Asia Pacific is projected to account for 53.6% of the total market share by 2025, owing to increasing vehicle production and popularity of vehicle safety features
The key companies, such as Aisin Seiki Co., Ltd., Brembo S.p.A., Continental AG, and Robert Bosch GmbH, have made huge investments in R&D activities to strengthen their production capabilities

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The Reasons For The Rise In Global Digital Map Market In Recent Period

The global digital map market size is estimated to reach USD 8.76 billion by 2025, growing at a CAGR of 11.5%, according to a new study by Grand View Research, Inc. The market is expected to witness substantial demand from navigational application developers and Geographical Information System (GIS) providers, who in turn are driven by a growing end-user base. The prolific rise in the number of smartphone and internet users has further augmented market growth at the global level.

Digital cartography has been gaining increasing attention in recent years owing to a rapid growth in demand for geospatial information. The growth in the number of connected and semi-autonomous cars, anticipated developments in self-driving and navigation technology, and an increase in the overall number of cars in developing countries are expected to drive the growth for digital maps across the globe.

Applications such as smart parking, location, traffic and congestion intelligence, and logistics management need routing and congestion updates in real time. As digital cartography has been developing at a rapid rate, it can support these applications with data feeds and information. In addition, the increasing number of businesses that are using location-based services for marketing and advertising is also estimated to enhance the demand growth in coming years.

Digital mapping is also finding renewed demand in the government & public sector as the demand for environmental and topographical information systems is on the rise. Furthermore, the need to maintain an updated information system for law enforcement officials, defense forces, and local governing bodies in light of recent manmade and natural threats is anticipated to propel the demand for maps.

Smooth interaction between maps and information systems is one of the most important criteria for product success in the market owing to which vendors are expected to focus more on data integration over the forecast period. As the industry matures, key players are anticipated to indulge in mergers and acquisitions in order to keep abreast of the market developments and maintain a competitive edge in a rapidly evolving technological landscape.

To request a sample copy or view summary of this report:
http://www.grandviewresearch.com/industry-analysis/digital-map-market

Further key findings from the study suggest:

The effect of recent technological developments and the shift toward smartphones is expected to have a profound effect on the Personal Navigation Devices (PND) market
Collaborations and partnerships between car manufacturers, in-dash navigation system providers, and digital map data providers are predicted to define the way forward for the market.
Revenue generation models are estimated to differ considerably over the coming years with some vendors opting for revenue generation from data and information sales, while others opting for location-based services. There is also a high probability of vertical integration in the industry.
Developing regions in the world are expected to witness exploration activities, whereas developed countries would witness a growth in demand for real-time data and information.
Asia Pacific is the fastest-growing regional segment due to the growth of smartphone users as well as the number of cars in this region.

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Profitable Advantages of investment in Wax Market: Grand View Research, Inc.

The global wax market is expected to reach USD 12.9 billion by 2025, and is expected to grow at a CAGR of 3.7% from 2017 to 2025, according to a report by Grand View Research, Inc. Rising demand for the product owing to its superior properties including high gloss, non-toxicity, good water repellency and outstanding chemical resistance is anticipated to augment the industry size over the forecast period.

The growing consumption of synthetic wax as it offers various properties such as thermal degradation resistance, high temperature stability and good heat resistance is likely to increase its demand in creams, eye make-ups and lipsticks in cosmetics applications.

Natural wax has been emerging as a potential mineral and synthetic wax alternative on account of its ability to provide luster and excellent oil retention coupled with environment friendly nature. High scuff-resistant toughness and melting point, and chemical stability of the product as a substitute to paraffin, microcrystalline and polyethylene waxes is expected to witness promising gains over the upcoming years.

The candles accounted for 36.01% of the overall revenue share in 2016 and is expected to witness growth owing to high usage of the product are as gift items for various occasions, including house warming gifts, adult birthday party gifts as well as thank you and dinner/hostess party gifts. The increasing demand for blended, palm and soy waxes in candles industry is expected to augment the overall wax consumption in the near future.

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Further key findings from the report suggest:

Mineral wax is likely to witness significant volume gains with a predicted CAGR of 3.3% from 2017 to 2025 on account of rising consumption of the product in detergents, rubber solutions, aerosol formulation, adhesives, household cleaners, tire manufacturing, and wood treatment applications.
North America was the dominant market and accounted for 34.9% of the overall revenue share in 2016. The rising consumption of the product in packaging of milk cartons, paper drinking cups and waxed paper is anticipated to drive the market growth over the forecast period.
The cosmetics application is anticipated to augment the U.S. industry consumption as a result of rising demand for various skin-care products such as face masks, creams and peels.The U.S. market has also demonstrated a shift in demand towards natural and organic cosmetics, thereby providing further avenues for growth.
Key players dominating the industry are Evonik Industries AG, ExxonMobil Corp., Sinopec Corp., CNPC, BASF SE, Royal Dutch Shell Plc. And HollyFrontier Corp.
Industry is highly competitive with companies undertaking several initiatives including frequent mergers, acquisitions, capital expansion and strategic alliances. Growing plastics and rubber processing sector along with rising consumption of adhesives, fire logs, and candles and decorative products applications is projected to propel the industry demand.
In June 2017, BASF SE introduced a new plant for waxes and emollients in Jinshan, Shanghai, China. This plant, having invested over €20 million by the company, was inaugurated on account of further enhancing and complementing BASF’s then current production of primary surfactants, emulsifiers and wax esters, and to serve the personal care industry in China as well as in Asia Pacific.
In July 2017, Royal Dutch Shell Plc. introduced new wax products, namely Slackwax 120 and Slackwax 60. These new products will be produced at its manufacturing site in Pulau Bukom, Singapore. By producing over 60,000 tons of these products, the company is aimed at serving its customers in Europe, the U.S. and Asia.

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Food Thickeners Market Growth, Industry Trends To 2025

The global food thickeners market is expected to reach USD 18.9 billion by 2025, according to a new report by Grand View Research, Inc. Growing demand for flavored beverages and carbonated drinks is expected to propel growth over the forecast period.

Major players in the industry are the global conglomerates with high production volume and wide regional presence. CP Kelco, DuPont, and ADM are some of the key players involved in manufacturing food thickeners. These companies compete on the basis of price and product quality, thereby triggering competitive rivalry.

Starch and its derivatives are widely preferred owing to their low cost, wide availability, and high-shelf life properties. Hydrocolloids such as pectin and various types of gums are used as thickeners owing to their gelling, thickening, and superior stability properties. However, the high cost of hydrocolloids is expected to hamper their growth.

Manufacturers in the industry stock raw materials to avoid supply shortages and eliminate third-party intermediaries. Manufacturers also emphasize on product innovation in spite of challenges such as discrepancies in the supply chain and raw material price volatility, which accounts for a major share of the overall production cost.

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Further key findings from the report suggest:

Starch segment dominated the industry and accounted for over 40% of the overall demand in 2016, owing to low cost, easy availability, and high-shelf life of the product
High demand for proteins owing to various health benefits such as muscle building, healthy aging, and weight loss is expected to drive the demand for dairy products, which is in turn likely to augment the demand
The industry in Europe was valued at USD 3.32 billion in 2016 and is projected to denote a CAGR of 6.0% from 2017 to 2025 owing to the robust food & beverage industry and changing culinary taste preferences of consumers in the region
Food thickeners industry in China is projected to register a CAGR of 7.7% from 2017 to 2025 owing to high demand for dairy, sauces, and baby food products
The U.S. accounted for over 70% of the North American market owing to the presence of several food manufacturing companies such as Kellogg Co., Tyson Foods, Inc. and The Kraft Heinz Company
The key players in the industry including Cargill Inc., Archer Daniels Midland Company, DuPont, and CP Kelco accounted for 70% of the overall revenue share

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Tuesday 28 November 2017

Recent Trends in Photonic IC Market Which Driving Semiconductor Industry

The photonic IC market is expected to reach USD 3.54 billion by 2024 according to a new report by Grand View Research, Inc. Photonic IC is an integrated circuit that uses optical wavelength as an information signal and provides multiple integrated photonic functions. Photonic IC, as such, is similar to an electronic IC and can be a viable replacement for it as well as for the copper-based wired transmission. Photonic IC forms an integral part of lasers, optical amplifiers, modulators, and MUX/DEMUX components, which are extensively used in the optical signal processing, optical communication, biophotonics, and sensing applications. The growing demand for sensing and optical devices are expected to fuel the growth of the photonic IC market.

There is an increasing need for cost effective, power efficient, and compact PICs which would further propel the photonic IC market over the forecast period across the mobile broadband Internet access, high-performance computing, datacenter, and enterprise networking, along with metro and long haul data communications, among many others. The increasing adoption of the high-level integrated PICs and application-specific PICs would boost the photonic IC market to strive for greater functionality and new product development across a number of verticals.

The photonic IC market is anticipated to grow substantially due to the continuous technological advancements and the evolving end-user demands. The laser, optical amplifier, and MUX/DEMUX component segments possess enormous growing opportunities, owing to the ability of photonic ICs to incorporate new optical functionalities that can be embedded on a single chip to achieve high efficiency and compactness.

The increasing demand for the optical communication and sensing applications is driving the growth of photonic ICs around the globe with an efficient management of datacenters and long haul networks providing a thriving market for them. Moreover, with the advancements in quantum computing, the adoption of photonic ICs are increasing as they allow multitasking that quantum computing readily requires. Also, the growing adoption of the biophotonic application in medical devices also holds considerable growth opportunities for the photonic ICs market. On the other hand, the high bandwidth and optimum performance requirements of the telecommunication industry, data storage, cloud service providers, and large business enterprises are expected to boost the optical communication and signal processing segments. This market will create many new opportunities culminating in an increased adoption of photonic ICs over the forecasted period.

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Further key findings from the report suggest:

There is a growing need for higher bandwidth and greater transmission speeds across the Information and Technology (IT) industry. Photonic ICs can be incorporated into the existing products to fulfill this demand in diverse industry verticals to transmit, receive, and switch high-speed digital signals in communication networks. Progressive research and developments are being made towards the low-cost, high-performance optics to help lower the cost of the high-speed Internet access and boost the efficiency of the telecommunication networks
The growing shift towards quantum computing and machine learning, among others, requires enormous parallel computing capabilities. The optical quantum computers can perform much faster than the traditional computers in terms of multitasking, higher level of integration, and efficiency while consuming lower power. This will open new avenues for photonic IC-based computing services across a wide range of verticals.
Broadcom Limited (U.S.), Viavi Solutions, Inc. (U.S.), and NeoPhotonics Corporation (U.S.) are some of the major industry players in this domain. Other key vendors include Oclaro, Inc., Kaiam Corp, Luxtera Inc., Infinera Corp., Finisar Corporation, Ciena Corporation, and Emcore Corporation, among others.

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The Fastest Growing “Collision Avoidance System Market” in the Next 5 Years

The global collision avoidance system market is expected to reach USD 18.97 billion by 2025, according to a new study conducted by Grand View Research, Inc. The updated ratings of safety agencies and incorporation of anti-collision systems in mass-market models are expected to propel the market growth over the next six years.

The increasing awareness among consumers and extensive R&D by market players have fueled the market growth. Collision avoidance systems enable vehicles to carry out semi-autonomous and autonomous decision-making. The rising need for security from consumers and governments is also expected to drive the collision avoidance systems market growth.

The recent developments in the sensor technology are oriented toward making highly sophisticated devices and augmenting them with various parts of an automobile. Anti-collision systems enable automotive OEMs to integrate additional intelligence to achieve the goal of an autonomous car.

Strict legal and regulatory standards have mandated the inclusion of sensors in motor vehicles. This is further estimated to drive the collision avoidance systems market. However, the high costs of long-range radars and LiDAR-based systems may restrain the market growth as low-price carmakers may abstain from adding onto the cost of vehicles.

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Further key findings from the study suggest:

Radar-based systems accounted for over 41% of the global market in 2015. The segment is further expected to gain market share over the forecast period.
The reducing prices of radars have led to the increased adoption of the technology by various automotive OEMs
Camera-based collision avoidance systems are expected to witness high growth, owing to the government regulations mandating their incorporation into vehicles
Adaptive cruise control accounted for a major market share in 2015. Such systems rely on long-range and medium and short-range radar systems to automatically adjust a vehicle’s speed.
Technological innovations may mandate the incorporation of systems in vehicles to counter the threat of accidents due to human errors, which account for 90% of accidents, according to a 2014 UN Road Safety Collaboration study
Europe is expected to continue to lead the market over the forecast period. It accounted for over 33% of the market in 2015.
The key industry participants include Bosch, Continental, Delphi, Denso, Autoliv, and TRW, among others

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Bare Metal Cloud Market is Growing at CAGR of 38.4% By 2025

The global bare metal cloud market is anticipated to reach USD 26.21 billion by 2025, according to a new report by Grand View Research, Inc. Factors such as increased demand for secure storage facility and rapid developments in the cloud industry have encouraged enterprises to switch to bare metal cloud from conventional cloud services.

Bare metal cloud solutions are gaining momentum and witnessing a high demand from enterprises across different industry verticals. These solutions offer manifold benefits such as efficient data storage, streamlined data center operations, and faster service delivery through various solutions such as bare metal compute and storage network. Presently, the rapid uptake of internet and networking has increased the demand for more storage space, advanced networking solutions, and high computing power in cloud services.

The hardware segment dominated the market in 2016. The increased use of compute, network, and storage facilities to virtualize data centers is driving the hardware market. Moreover, the accelerated use of internet-based technologies and electronic devices is expected to further propel the market growth.

The maintenance service segment is anticipated to witness substantial growth owing to the need for regular maintenance post installation. The demand for these services is expected to increase over the forecast period. The increasing advancements in cloud services are encouraging providers to introduce new updates in minimal time with better quality. This is further creating an opportunity for market growth.

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Further key findings from the report suggest:

The demand for bare metal cloud has increased over the years, owing to the increasing significance of data security and rising adoption of advanced cloud services along with advanced authentication support.
The U.S. government is investing considerable amount of monetary and non-monetary resources to encourage the adoption of cloud services across various sectors and carry out initiatives such as smart cities.
The increasing use of cloud and internet-based technology in Canada has triggered the adoption of bare metal cloud services in businesses of all sizes.
Factors such as high demand for cloud-based services and automated storage adoption by small- and mid-sized companies are expected to be the key trends influencing the market growth.
Key players in the market include IBM Corporation, Oracle Corporation, and Rackspace Inc., among others.

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Rapid Increase in Sulfuric Acid Market - Key Factors, Market Segments Regions and Industry Forecasts Analysis to 2025

The global sulfuric acid market is expected to be valued at USD 13.45 billion by 2025, according to a new report by Grand View Research, Inc. Increasing investments in plant facilities due to the rising production capacity of phosphate fertilizer and tightening environmental regulations are anticipated to spur the market over the foreseeable period.

Rising demand for the production of nutrient-rich food crops is expected to boost the industry. Increasing requirement for the continuous & sustainable H2SO4 product for the manufacturing of phosphate fertilizer, inorganic chemicals, detergents & soaps, dyes, and gasoline is expected to trigger industry growth over the forecast period.

Growing suppliers of sulfuric acid in Saudi Arabia due to the presence of large number of acid manufacturing facilities to strengthen the growth of phosphate is expected to spur the Middle East regional market. Factors such as increase in the number of initiatives carried out by companies such as DuPont, Outotec, and Sumitomo Corporation to expand their plant facilities, enhance distribution network, and expand processing capacities are projected to propel the market over the next eight years.

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Further key findings from the report suggest:

The global demand was valued at USD 10.10 billion in 2016, at an estimated CAGR of 3.3% from 2017 to 2025
Elemental sulfur was the largest raw material segment in 2016, accounting for over 57% of the overall market
Increasing demand for the manufacturing of sulfuric acid from elemental sulfur owing to its environmentally-friendly property in comparison to base metal smelter or pyrite ore roasting is projected to propel elemental sulfur raw material segment
Fertilizers was the largest application segment in 2016 and is expected to progress at a moderate rate over the foreseeable period
Increasing demand for the production of phosphate fertilizer to enhance the quality of irrigation water is projected to propel fertilizer application growth
In terms of revenue, Asia Pacific was the dominant regional segment in 2016 and is anticipated to hold a considerable share in the market, at an estimated CAGR of around 3.6% over the forecast period
Growing demand for H2SO4 products in chemical industries from emerging the economies of China and India and the availability of raw materials in this region is projected to drive Asia Pacific regional segment
In May 2017, DuPont Clean Technologies received a contract agreement from Yidu Xingfa Chemical Co. Ltd. for the technology and engineering license for a 3600 tpd MECS MAX3 sulfuric acid plant. This initiative is expected to strengthen the company’s Xingfa plant in China.
Some players operating in this industry include Mosaic Company, Chemtrade Refinery, DuPont, Akzonobel N.V., BASF, PVS Chemical Solution, Valero Energy, and Solvay among others.

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According to a report by Grand View Research, Inc.; the global polypropylene (PP) nonwoven fabric market is affirmative in nature. It is anticipated to grow at a CAGR around 8.5% during the forecast period (2016 to 2025). Polypropylene polymers and fibers are the most common raw materials used in textile manufacturing. Superior quality of these raw materials over non-knitted textiles is anticipated to increase their importance and demand in the market. Some major industries like geotextile, automotive, and construction are using nonwoven polypropylene fabrics in end-user products.

Growing population and rising demand for disposable consumer products are the major factors driving the global market. Increasing cases of adult incontinence owing to old age can also augment the growth of this market in coming years. Rising demand for hygiene products such as baby diapers and sanitary products is building the future prospects for the market. Moreover, use of spunbonded polypropylene fabrics in the manufacturing of medical products such as protective apparels is likely to propel the global market over the forecast period.

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Observing the surging demand for polypropylene nonwoven fabric, most manufacturing companies are investing in collaborations and R&D. For Instance, a Japan based multinational corporation Toray, recently announced its future investment plans during a press conference in Seoul, South Korea. According to this announcement, the company is planning to invest one trillion won in South Korea through its local subsidiaries. In detail, the company is likely to invest 115 billion won (US$103 million) to produce polypropylene spunbond nonwoven fabric and 100 billion won (US$90 million) in its manufacturing plant producing polyphenylene sulfide (PPS) resins and compounds. By this huge investment, the company is aiming to increase its annual compound production capacity and PPS resin production capacity by 6600 tons and 18600 tons respectively.

Being a major petrochemical derivative, polypropylene is required by numerous end-use industries to manufacture multiple products. However, excess usage of the raw material can have negative impact on the environment. Polypropylene is a polymer plastic and burning these plastics can produce toxic fumes, which can pollute the environment. To control the effect, most manufacturing companies have diverted their focus to bio-based polypropylene, which can play as a huge opportunity for the key players in coming future.

However, inflexible regulations applied in petrochemical processing are a big challenge for the market. Owing to environmental concerns, the governments have set some stern regulations on the usage and production of polypropylene for it being a petrochemical derivative. Such tight regulations can hinder the growth of this market in near future. In addition, a frequent change in the prices of polypropylene fabrics can also act as an obstruction for market during the forecast period.

The polypropylene (PP) nonwoven fabric market can be segregated on the basis of product, application, and region. Based on product, the market can be categorized into meltblown, spunbounded, staple, and composite. In 2016, spunbonded polypropylene fabric dominated the global market in terms of demand. It finds applications in manufacturing of medical products, feminine care products, and diapers. The segment is likely to grow at a remarkable CAGR of 9% over the forecast period. Based on application, the market can be divided into, medical, geotextiles, ygiene, industrial furnishings, agriculture, and carpet. Increasing disposable income and demand for high quality cushions can propel the growth of furnishings segment in the future.

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Furthermore, regional segmentation includes America, Europe, Middle East, and Asia Pacific. In the global arena, Asia Pacific is likely to dominate the market during the forecast period owing to increasing disposable income. In addition, surging demand for various hygiene products such as sanitary and baby diapers in India and China can also support the growth of the market in this region. On the other hand, Middle East is anticipated to be the most appealing market for polypropylene non-knitted textile during the forecast period. Whereas, Western Europe and North America are the matured markets that are expected to witness relatively lower growth rates in forthcoming years.

Some of the key companies operating in the market include Fiberweb, Kimberly-Clark, PGI, AVGOL, Mitsui, and Toray.

Rainscreen Cladding Market To Reach $14.05 Billion By 2024

According to a research report by Grand View Research, Inc.; the global rainscreen cladding market is anticipated to reach USD 14 billion by 2025. The market is predicted to grow at a strong CAGR of around 7% during the forecast period (from 2016 to 2024). Rainscreen cladding is an outer decorative skin fixed to a structure that protects buildings against extreme weather conditions. Demand for sustainable and lightweight insulation materials due to rising residential and commercial construction activities in developing regions is expected to propel the market over the years to come.

Growing awareness regarding energy and resource saving due to the global energy crisis and high pollution levels is also projected to fuel the market over the forecast period. In addition, several technological innovations have also provided new opportunities for durable and high-performance cladding systems. This has enabled the production of unique panels and facades with better moisture management properties. High preference for protection of exterior walls to increase their lifespan is anticipated to encourage the development of attractive and functional rainscreen systems.

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Rising consumer awareness about the importance of enhancing energy efficiency in buildings by lowering the number of resources such as Heating, Ventilation, or Air Conditioning (HVAC) may also drive the market. Additionally, various federal policies and strict regulations promoting energy efficiency in buildings, e.g. the International Energy Conservation Code (IECC) 2006 are also likely to encourage the use of rainscreen claddings.

The World Green Building Council (GBC) and the International Energy Agency (IEA) are also focused on promoting the concept of green building by helping contractors and builders achieve maximum energy efficiency in constructions. This is also expected to increase the demand for rainscreen claddings over the coming years thereby fueling the global market. Easy availability of raw materials and low cost of installation are also projected to augment the market growth in near future.

The global rainscreen cladding market is categorized on the basis of raw material, application, and region. On the basis of raw material, the market is further categorized into fiber cement, ceramic, metal, composite materials, terracotta, high-pressure laminates, and others. Aluminum-based composites were the most commonly used systems due to their flexibility, lightweight, and better structural strength. However, terracotta cladding is expected to emerge as the fastest-growing segment during the forecast period. The properties of terracotta such as frost-resistance, low water absorption, and flame retardant are anticipated to drive demand in forthcoming years.

On the basis of application, the market is segregated into institutional, commercial, residential, offices, and industrial. Offices segment accounted for around 30% market share and led the global market in the past. However, growing residential construction activities and government initiatives in emerging regions to offer cheap and sustainable housing may boost the residential segment over the forecast period. The segment is projected to grow at a CAGR of around 7% from 2016 to 2024.

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On the basis of region, the market is categorized into North and Latin America, Asia Pacific (APAC), Europe, and Middle East and Africa (MEA). The Europe region accounted for 25% of the overall market share in 2015 and is expected to witness steady growth in near future. Climatic conditions and government regulations encouraging energy efficiency are likely to spur the regional growth. However, APAC is predicted to register the fastest growth rate of around 9% from 2016 to 2024. This growth is attributed to the growing number of integrated townships in various developing countries in the region.

Key companies in the rainscreen cladding market are MF Murray Companies; Kingspan Insulation PLC; CGL Facades Ltd.; Rockwool International A/S; and Eco Earth Solutions. New product development is the key strategy followed by most players to maintain the market position. To put this in perspective, Fiberon has developed a new Fiberon Composite Cladding that offers high performance and attractive wood alternative for rain screen system exteriors. This easy-to-maintain, durable cladding can eliminate performance and installation challenges and can deflect water to enhance the efficiency of rainscreen systems.

Thursday 23 November 2017

Demand for Food Across the Globe Driving Micro Irrigation Systems Market

The global micro irrigation systems market size was valued at USD 2.48 billion in 2014. The market is anticipated to witness substantial growth by 2022 owing to increasing demand for food across the globe. They including sprinklers, mist, drips, and sprays irrigate plant roots using low discharge emitters and complex pipe network.

The ability to modify the discharge pattern by these systems according to the requirement of various agronomic and horticulture plants drive the micro irrigation market growth. The market is expected to reach USD 9.10 billion by 2022, on account of increasing demand for food in tandem with rising population.

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Urbanization and industrialization had led to the expansion of cities and a decrease in arable land for cultivation of crops. In addition, increasing trend of population migration from villages and towns to cities has resulted in reducing the workforce in agriculture industry. These factors together have contributed to increasing popularity of micro irrigation as they not only improve efficiency but also reduce labor.

Sprinklers dominated the global market accounting for over 30% of the revenue share in 2014. Flexibility and ease of use of the product is expected to result in its high demand over the forecast period. Moreover, sprinklers also offer more coverage in small quantities of water. Thus, the market is expected to grow at a CAGR of 17.1% from 2015 to 2022.

Demand for micro irrigation systems was highest for orchards, accounting for over 30% of the global market. They water only the treeline of the orchard, thus, promoting healthy growth.

Plantation & field crops are likely to witness significant gains over the forecast period owing to rising awareness among farmers regarding the benefits of these equipment.Field crops are expected to grow at a CAGR of 18.2% from 2015 to 2022.

North America accounted for approximately 30% of the overall revenue in 2014, followed by Asia Pacific. Rising awareness among farmers regarding the benefits of using these systems has resulted in growth of the market over the past few years, and the trend is expected to continue over the forecast period.

Increasing adoption of these equipment to conserve water as well as reduce labor in agriculture-eccentric economies of Asia Pacific is expected to augment growth over the forecast period. The market is expected to witness a growth of 19.8% by 2022.Moreover, growing population and rising standard of living are expected to augment the market in the region over the forecast period.

Reduced arable land owing to industrialization, deforestation, soil erosion, and urbanization along with scarcity of water are the major drivers of the micro irrigation systems industry. Installing them minimizes soil erosion, increases crop yield with high quality, and low weed growth. Drought related issues can also be solved by these equipment under the guidance of considerable government policies and regulatory frameworks.

Prominent industry players include Jain Irrigation Systems Ltd., Valmont Industries, Rain Bird Corporation, Nelson Irrigation, EPC Industries Ltd., The Toro Company, Rivulis Irrigation, Lindsay Corporation, Netafim Ltd., and T-L Irrigation. The market is dominated by a key players including Jain Irrigation Systems, The Toro Company and Rain Bird Corporation, together accounting for over 50% of the market share in 2014.

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