Global Grease Market is expected to record a CAGR of ~5% and to reach a size of US$7 billion by 2028: Ken Research

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Grease is a solid or semisolid liquid lubrication. Lubricating grease consists of 65 to 95% base oil, 3 to 30% thickener, and 0 to 10% additives. The main function of grease is to provide lubrication without leaking and contacting the material. The functional properties of grease include better performance than oil, solid sealant, prevents leakage, and uncontrollable fluid level. The grease is used in multiple industries such as automotive and transport, chemical, food processing, wind generation, heavy equipment, steel, mining, general manufacturing, and others.

The Global Grease Market is expected to record a CAGR of ~5% during the forecast period (2022-2028). The market was to be the size of US$4 billion in 2017 and US$5 billion in 2021. Further, the market is forecasted to reach a size of US$7 billion by 2028. Increased automation in multiple industries and rising demand from the automotive sector is a driving factor for the grease market.

• Rising demand from the automotive sector is one of the key factors driving the grease market. Grease is used in vehicles for suspension, chassis, arm-shafts, u-joints, and others. As per the International Organization of Motor Vehicle Manufacturers (OICA), an organization working in the interest of vehicle manufacturer and assemblers, stated that vehicle production increased by 3% from 2020 to 2021 after declining by 13% from 2019 to 2020.  Automotive is the largest end-user of grease, increasing demand for vehicles will directly help the grease market to rise.
• The grease used in heavy equipment, wind power, aerospace, and food industry is specifically manufactured and graded by companies. As per International Air Transportation Association (IATA), a trade association for the world’s airlines, mentioned in the fact sheet for June 2022, cargo aerospace revenue is US$ 100.08 billion and is estimated to grow by US$191 billion from 2019 to 2022. Aviation grease is used for multipurpose such as landing wheel assemblies, screw jacks, servo devices, and others, positive growth in the aerospace industry certainly helps to grow the grease market.
• Environmental concern is one of the major challenges for the grease market as waste material is discharged to the nearby waterbodies. For instance, the Lubricating Oil and Greases Order, 1987 is an act passed in India which overlooks the restrictions imposed on the processing and storing of greases and lubricating oils. Act also gives the power to the Central Government to issue directions regarding the search and seizure of the manufacturing plant.
• Covid19 has slowed down the growth of the grease market. Disruption in the supply chain, temporary shutdown of manufacturing plants, and reduction in vehicle traffic globally, were all those factors that reduce the use of grease in the market. According to the International Monetary Fund (IMF), a USA-based organization that promotes global economic growth and financial stability, provided in the growth projection released in April 2022, global economic growth is projected to slow from an estimated 6.1% in 2021 to 3.6% in 2022 and 2023. Declining economic growth will directly impact the chemical, construction, automotive, and other industries.

Key Trends by Market Segment:

• By Thickener:  Metallic soap holds the largest share of the Global Grease market in 2021. Metallic soap thickener greases used in multiple industries such as automotive, manufacturing, steel, marine, construction, and others.
• Sodium hydroxide, lithium hydroxide, and other materials are mixed with organic fatty acids in the oil and heated to prepare metallic greases.
• Metallic soap is the most common type of thickener used in the industry. There are multiple varieties of metallic soap greases are available in the market such as lithium, calcium, aluminum, and others.
• According to Trading Economy, a website that provides historical data on economic indicator, exchange rate, stock market index, and others stated that in 2022 lithium carbonate prices rose to 80% year-to-date in China as surging demand coincides with lower supply. Thus, the rise in demand for lithium is likely to propel the market for metallic soap during the forecast period.

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By Base Oil: Mineral oil segment accounted for the largest market share in 2021, as it used for multiple applications such as bearings, chains, gears, slides, and threaded connections.

• According to Enerdata, an energy intelligence company, stated in a report that global crude oil output rose by less than 1% in 2021 after a 7.4% drop in 2020.
• In 2021, as stated by Enerdata, the US crude oil production (17% of global output) increased by 1.3%. Increased production of crude oil is likely to propel the growth for mineral oil.

By End-User: Automation and transportation dominated the end-user segment in 2021, as grease is used in lubrication of suspension, chassis, arm-shafts, u-joints, and others.

• According to the Organization of Vehicle Manufacturers (OICA), China was the largest producer of motor vehicles with 26 million units in 2021, an increase of 3% from 2020. India was the second largest producer of motor vehicles in the Asia Pacific with 4.4 million units in 2021, with an increase of 30% from 2020.
• The growing wind power industry also has a positive impact on the grease market. According to the International Energy Agency (IEA), an autonomous intergovernmental organization, in 2021, mentioned that a total of 830 GW of wind capacity was installed worldwide, into which China covers more than 50% of the market share. Grease in wind power is used for lubricating multiple applications such as bearings, shafts, pitch drive gears, rotor, blade, and yaw bearings.

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By Geography: The Asia Pacific accounted for the largest market share within the global grease market, accounting major chunk of total market revenue in 2021 as it houses most of the lubricating companies.

• According to the Indian Brand Equity Foundation (IBEF), a semi-government trust formulated by the department of commerce. Mentioned that an investment of US$107 billion is forecasted in the Indian chemicals and petrochemicals sector by 2025, the demand for chemicals is expected to widen by 9% per annum by 2025.
• Europe is expected to be the 2^ndfastest growing region during the forecasted period because of the rising demand for electric vehicles. As per Organization of Vehicle Manufacturers (OICA), Europe’s motor vehicle production decline by 24% from 21 million units in 2019 to 16 million in 2021, has impacted the growth of the region. Rising demand for EVs will positively impact the grease market, as automotive is the major end-user of grease products.
• Food-grade grease is formulated to deliver high performance without compromising health and safety. As per the U.S. Department of Agriculture, food accounted for 11.9% of U.S. household expenditures in 2020, just behind the household and automotive industries. As food expenditure continues to hold a significant share in the US expenditure, it will boost the demand for food-grade grease.

Competitive Landscape:

• The Global Grease marketis highly competitive with approximately 200 players which include globally diversified players, regional players as well as a large number of country-niche players having their niche in Grease production to multiple end-user industries. Most of the country-niche players are dealing in the production and manufacturing of lubrication.
• Large global players control about 40% of the market, while regional players hold the second largest share. Some of the major players in the market include Castrol India, Royal Dutch, Exxon Mobil, Eni, Chevron Corporation, FUCHS Petrolub, Sinopec Corporation, Total Energy, ENEOS Corporation, Phillips 66, CITGO, Indian Oil Corporation Ltd., and others.
• The leading global specialist companies such as Exxon Mobil, Chevron Corporation, and Castrol are highly focused on providing a full segment of grease for multiple solutions and multiple end users.

Recent Developments Related to Major Players

• In June 2021, Castrol India announced the launch of Castrol On, a range of advanced e-fluids for improved electric vehicle performance. Castrol On advanced grease EV fluids protects the component in EV’s motor for higher efficiency and long-lasting.
• FUSCH announced in its Annual Report for FY21, New plant in Kaiserslautern, Germany will produce custom-made polyurea greases for e-mobility and wind power. US$15.5 million was invested in the 3 German sites in Mannheim, Keil, and Kaiserslautern.
• In February 2022, RelaDyne acquired The Farley Company, a distributor of an extensive line of lubrication and chemical products. This acquisition will expand RelaDyne’s distribution capabilities in the northern Ohio area, Columbus, and Akron markets.

Conclusion

The Global Grease Market witnessed significant growth during the period 2017-2021, primarily driven by growing demand from the automotive industry, and rising end-user industries. Although the growth rate is expected to remain neutral in the forecasted period, the use of Grease is anticipated to remain strong as multiple industries required lubrication in machinery.

Though the market is highly competitive with approximately 200 participants, few global players control the dominant share and regional players also hold a significant share.

Note: This is an upcoming/planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients and report delivered within maximum 2 working weeks.

Ken Research has recently publish a report title Global Grease Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 that is segmented by Thickener, Base Oil, and End User. In addition, the report also covers market size and forecasts for the region's four major Region' Grease markets. The revenue used to size and forecast the market for each segment is US$ billion.

Market Taxonomy

By Thickener

Metallic Soap

Non-Soap

Inorganic

By Base Oil

Mineral Oil

Synthetic Oil

Bio-Based Oil

By End-User

Automotive

Power Generation

Food & Beverages

Aerospace

Chemical Manufacturing

Mining and Metals

By Geography

North America (USA, Canada, Mexico)

Europe (Germany, UK, France, Spain, Italy, Rest of Europe)

Asia Pacific (China, Japan, South Korea, India, Indonesia, Australia, Rest of Asia Pacific)

LAMEA (Latin America, Middle East, Africa)

Global Fingerprint Sensor Market is expected to growth of ~10% over the next six years (2022-2028): Ken Research

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According to the latest Ken Research Analysis, the global fingerprint sensor market is expected to witness a growth of ~10% over the next six years (2022-2028). The market size was valued at around US $3 Bn in 2017, is estimated at around US $5 Bn by 2022, and is expected to reach US $9 bn by 2028.

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Key Growth Drivers

An increase in the number of intelligent devices, such as tablets, laptops, smartphones, and smart wearables per person, is expected to increase the growth of the studied market. Additionally, the rising demand for biometric devices has accelerated its growth.

• The fingerprint sensor is among the most prominent type of biometrics sensors that is used in various applications and devices, due to which the demand for fingerprint sensors is rising. Tracking the attendance of the employees has become easy with the use of biometric systems. This system prevents employees from logging in for one another hence drastically reducing fraud in attendance systems. These biometric sensors have a thin film transistor (TFT) sensor that allows capacitive sensing to enable its small form factor (3.7 inches x 1.7 inches x 0.3 inches or 95 mm x 45 mm x 8.5 mm) to capture fingerprints under direct sunlight.

Global Fingerprint Sensor Market faces several restraints such as the availability of new technologies like facial recognition and iris recognition. Additionally, the high cost involved in the development of fingerprint sensors is a major barrier to the growth of the market.

• Iris scanning and facial scanning provide an advanced level of biometric security that can act as a substitute for the fingerprint sensor. The facial recognition system analyses the shape and position of different parts of the face to recognize the person. Iris scanning is known to be an excellent security technique, especially if it is performed using infrared light. Japanese auto companies are also actively innovating to integrate iris/facial scanning sensors in their upcoming automotive models.

The impact of COVID-19 pandemic negatively impacted the sales and growth of the Fingerprint Sensor Market. The pandemic led several manufacturers to halt their business operations due to disruptions in the global supply chain. Several manufacturers faced chip shortages and the shelf life of produced fingerprint sensors was increasing. This segment, which comprises wearables, laptops, desktops, and other appliances, was impacted, as production declined due to disruptions in the global supply chain, including China, which is the major hub of OEMs in this segment.

Key Trends by Market Segment

By Type: The capacitive segment held the largest market share in the year 2021 for the Global Fingerprint Sensor Market.

• Capacitive-type fingerprint sensor is widely used in smartphones, laptops, and other electronic devices. As consumer electronic devices mostly use capacitive-type fingerprint sensors in their products, their sales figures are higher than other types of fingerprint sensors. Due to their low cost, easy availability, and compact characteristics, the capacitive fingerprint sensor has also become a popular choice for biometrics smartcards, smart locks, and other access control devices.
• The development of Smartphone Fingerprint Technology recognition penetration rate shows that the Finger on display (FOD) fingerprint display increased from 4% in 2018 to 50.30% in 2022 which shows the increase in demand for Fingerprint Sensor technology.

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By Application: The smartphone/tablet segment held the largest market share in 2021 for the Global Fingerprint Sensor Market.

• As there have been advancements in access control technologies, the adoption of fingerprint sensors in smartphones and laptops has increased. A user is now able to make easy payments via his/her smartphone using authentication by fingerprint sensors. The earliest application of fingerprint sensors in smartphones was by Toshiba in 2011, however, but Apple revolutionized touch ID fingerprint sensors in mobile devices. Apple's Touch ID is a fingerprint sensor that scans fingerprints, reads them, and finally recognizes the fingerprints. This technology was originally a headlining characteristic of the iPhone 5S, but later this technology has been visible on several newer iPhones, like the iPhone SE (2020), and also on iPads and MacBooks.

By End-User Industries: The consumer electronics segment held the largest market share in 2021 for the Global Fingerprint Sensor Market.

• This growth is mainly due to an increase in demand for sensors that are used in smartphones, tablets notebooks, and laptops. In 2020, according to China Internet Network Information Centre (CNNIC), around 852.5 million users made mobile payment transactions, which surged from 583.3 million users in 2018. These kinds of surges in mobile payment transactions increase the need for fingerprint sensors.

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By Region: The North America Fingerprint Sensor market held the largest share in 2021. On the other hand, Asia Pacific region is expected to grow at the fastest CAGR during the forecast period (2022-2028)

• The market dominance of North America is due to the early adoption of technology and the presence of key players like Apple Inc., Qualcomm Technologies, Inc., and others in the region. Moreover, there has been an increase in investment by the government in the region for border surveillance and homeland security which is further driving the revenue growth of the market.
• Increasing mobile transactions in China, guided by the government’s initiatives, are expected to boost the growth of the fingerprint sensors market in the Asia Pacific region. China is expected to have a high mobile transactional volume, which is expected to create a strong potential for the Fingerprint Sensor market.

Competitive Landscape

The Global Fingerprint Sensor Market is highly competitive with more than 300 players which include globally diversified players, regional players as well as a large number of country-niche players in the Fingerprint Sensor market.

The large global players constitute ~10% in terms of the number of competitors followed by regional players which account for ~30% of the constitution. Most of the country-niche players deal with the local demand of the region. Some of these who successfully evolve to create application-specific solutions often get acquired by large global players seeking to grow and diversify quickly.

Recent Developments Related to Major Players

• In September 2021, IDEMIA launched the SaaS-based Automated Biometric Identification System (ABIS), IDEMIA STORM ABIS, for affordable, accessible, and intuitive fingerprint analysis, documentation, and comparison. IDEMIA STORM ABIS supports national and local searches with the help of tools for analysis, comparison, and case management that allows fingerprint examiners to efficiently and effectively complete examinations from any place.
• In July 2021, Fingerprint Cards collaborated with a Tokyo-based Company named MoriX Co. Ltd to launch and develop biometric payment cards in Japan. This collaboration would bring Japanese consumers a more secure, safe, and easy payment experience.
• In May 2022, Fingerprint Cards collaborated with Transcorp and Mswipe to bring contactless biometric payment cards to India. This payment card range would add convenience and easy payments for merchants and consumers in the region.

Conclusion

The Global Fingerprint Sensor Market is forecasted to continue moderate growth, which is primarily driven by the rising adoption of biometric fingerprint Sensors for accurate identification, faster access, and higher security. The market size is estimated to be US$ 5 Bn in 2022 and is expected to reach US$ 9 Bn by 2028 growing with a CAGR of 10%. North America is the dominant region in terms of revenue generation; however, the Asia Pacific region is expected to grow at a higher pace. Though the market is highly competitive with ~300 participants, few global players control the dominant share and regional players also hold a significant share.

Note: This is an upcoming/planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients, and the report delivered within a maximum of two working weeks.

Ken Research has recently published report titled, Global Fingerprint Sensor Market Size, Segments, Outlook, and Revenue Forecast 2022-2028, Market is segmented by type, application, end-user industries, and geography. In addition, the report also covers the market size for each of the four regions of the Global Fingerprint Market. The revenue used to size and forecast the market for each segment is US$ Billion.

Market Taxonomy

By Type

• Optical
• Capacitive
• Thermal
• Ultrasonic

By Application

• Smartphones/Tablets
• Laptops
• Smartcards
• IoTs
• Others

By End-User Industries

• Consumer Electronics
• Travel and Immigration
• Government and Law Enforcement
• Military
• Others

By Region

• North America
• USA
• Canada
• Mexico
• Europe
• Germany
• UK
• France
• Italy
• Spain
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific
• LAMEA
• Latin America
• Middle East
• Africa

Key Players

• Fingerprint Cards AB
• Egis Technology.
• Vkansee Technology Inc.
• Synaptics
• Apple Inc.
• CMOS Sensor Inc
• Goodix
• Touch Biometrix
• Q Technology
• Thales
• Idemia
• Qualcomm Technologies, Inc

The Quick Commerce Market of Saudi Arabia is expected to witness a surge by 2026F, demand for quick deliveries & greater transparency will positively affect the Market: Ken Research

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1.  KSA Quick Commerce Market is currently at a nascent stage with ~15-20 players & has witnessed significant competition in terms of emergence of various companies.

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With a CAGR of 64.1% in the period between 2018-2021, the quick commerce market as seen in KSA is currently at a growing stage. The market is moderately fragmented with presence of a few major brands dominating the market. Moreover, the city of Riyadh is a major contributor with more than 50% of the overall on-demand logistics order coming from the same.

2.  The Central region with Riyadh as the major Hub generated on-demand grocery delivery orders of around 2.7 Million in 2021.

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• Riyadh & Jeddah are key hubs of the e-grocery segment in the country.
• The central region represents the largest market with large middle & upper class & there are plenty of consumers with discretionary budgets available for a wide assortment of products.
• Increased Internet penetration rate, quick access to smartphones, some of the prime factors responsible for large number of orders in these regions.

3.  KSA’s On-Demand Grocery delivery market is expected to grow at a CAGR of 92.5% during 2021-2026F

• The number of orders are expected to rise to 808.4 million in 2026F, attributing to internet penetration across rural & urban areas.
• Upgradation in technology such as GPS monitored robots, drones, inbuilt RFID, GPS & Telematics will be used for tracking inventory.
• Simplified e-banking systems, improved logistics & changing lifestyles are also responsible for the growth in this sector.

Global Soy-Based Market is expected to reach a market size of ~US$ 55 billion by 2028: Ken Research

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According to Ken Research Analysis, the Global Soy-Based Food Market was valued at ~US$ 20 billion in 2017. Furthermore, owing to the growing consumer demand for health-centric food products to maintain healthy eating habits, it is estimated to be ~US$ 30 billion in 2022 and is expected to reach a market size of ~US$ 55 billion by 2028 growing with a CAGR of ~10% during 2022 to 2028.

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Key Growth Drivers

• The increasing popularity of lactose-free products among individuals is anticipated to boost the soy-based food market growth in the forthcoming years.
• Consumers shifting preferences toward a vegan diet due to rising awareness regarding the health benefits associated is one of the major trends that help in the shaping of the soy-based food market.
• Lack of individuals’ awareness regarding plant-based food products, and limited availability of raw materials are some of the challenges faced by the soy-based food market. Furthermore, rising consumer concerns regarding the negative health implications of consuming ferments soy-based beverages may impede its growth.
• The ongoing COVID-19 pandemic has changed consumers' purchasing preferences/behavior due to lockdowns imposed by various governments across countries, allowing people to stockpile products that last for a longer period of time, including plant-based food products. Furthermore, people who have been affected by the virus have become more health conscious, which has fueled the demand for natural and organic products, resulting in an increase in demand for plant-based food, including soy and organic products.

Key Trends by Market Segment

By Type: The Meat Substitute segment held the largest share of the Global Soy-Based Food Market in 2021.

• The growth is mainly driven by the rising individuals’ environmental concerns which are positively influencing an increase in the adoption of meat substitutes, such as tempeh, tofu, and textured vegetable protein as they typically use less land, water, and emit lower carbon emissions which helps in mitigating the effects of global warming and improve the air quality.
• According to Food and Agriculture Organization (FAO), a specialized agency of the United Nations that leads the right policies and programs to defeat hunger and improve nutrition and food security, livestock accounts for nearly 15% of global greenhouse gas emissions.

By Application: The Dairy Alternatives segment held the largest market share of the Global soy-based food Market in 2021, owing to the inclusion of antioxidative properties in soy milk, which protect the body's cells.

• The presence of omega-3 fats, essential polyunsaturated fats in soy foods are associated with a lower risk of cardiovascular disease (CVD), influencing people, particularly those suffering from CVD, to choose them.
• In June 2021, according to the World Health Organization (WHO), a United Nations specialized agency responsible for global public health, cardiovascular diseases (CVDs) are the world's leading cause of death. In 2019, an estimated 17.9 million individuals died from CVDs, accounting for 32% of all global deaths. Heart attacks and strokes were responsible for 85% of such deaths.

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By Distribution Channel: The Supermarket/Hypermarket segment held the largest share of the Global soy-based food Market in 2021.

• The growth is mainly attributed to the easy availability of food products along with the large variety of flavors and brands under one roof, which assists customers in selecting the appropriate product.
• Supermarkets/hypermarkets generally offer lower or discounted prices to customers as they purchase larger quantities of goods, which dramatically increases its sales volume.

By Geography: Asia Pacific accounted for the largest market share in the global soy-based food market in 2021.

• The growth is mainly attributed to the rising trend of veganism among individuals, especially the young generation, who seem to be more invested in health consciousness.
• The rising government initiatives regarding the reduction of meat consumption across Asian countries, notably in China, India, Japan, and South Korea, to reduce greenhouse gas emissions, deforestation, and soil degradation is a significant contributor to rising demand for plant-based food products, including soy-based food products.
• In August 2022, South Korea’s government imposed new guidance under their National Plan 2022 to include cultivated meat regulatory approval guidance and no regulatory framework to approve alt-protein products for sale in South Korea.
  • In January 2022, China's Ministry of Agriculture and Rural Affairs released its official five-year agricultural plan, with the aim to promote cultivated meat alternatives, such as tempeh which could reduce greenhouse gas emissions from livestock production (or meat imports) while ensuring food security.

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Competitive Landscape

The Global Soy-Based Food Market is highly competitive with ~200 players which include globally diversified players, regional players as well as a large number of country-niche players with their niche in adopting advanced technology, such as fermentation technology to enhance the taste, and texture of products. Moreover, companies are competing on various parameters such as partnerships, new products offering, business models, marketing strategies, pricing, campaign, and more.

Country-Niche players constitute about ~50% of the total competitors, while regional players represent a share of ~35%. Some of the major players in the market include ADM, Danone S.A., Eden Foods, Pacific Foods of Oregon, Llc., The Sahmyook Foods, Nordic Soya Oy, Cargill, Incorporated, The Hain Celestial Group, Blue Diamond Growers, Miracle Soybean Food International Corp., and among others.

Recent Developments Related to Major Players and Organizations

• In August 2022, the Archer-Daniels-Midland Company (ADM), a U.S.-based food processing company, partnered with Benson Hill, a U.S.-based food tech company, to commercialize ultra-high protein (UHP) soybeans to use in ingredients for plant-based food and beverages across North America by early 2023.
• In May 2022, Cargill, a U.S.-based food corporation, announced its plans to construct new soybean processing plants in Southeast Missouri to meet rising domestic and global demand for oilseeds prompted by food, feed, and fuel markets. The facility will have an annual production capacity of 62 million bushels of soybeans.

Conclusion

The global soy-based food market is forecasted to continue an exponential growth that is witnessed since 2017. The major driving factor contributing to the expansion of radiography systems is the rising prevalence of lactose intolerance and the increasing adoption of veganism across countries. Though the market is highly competitive with around ~200 participants, few country-niche players control the dominant share and regional players also hold a significant share.

Note: This is an upcoming/planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients, and report delivered within maximum 2 working weeks.

Ken Research has recently published report titled, “Global Soy-Based Market Size, Segments, Outlook, and Revenue Forecast 2022-2028” market is segmented by product type, distribution channel, and application. In addition, the report also covers market size and forecasts for the four major regions' Soy-Based Food Markets. The revenue used to size and forecast the market for each segment is US$ billion.

Market Taxonomy

By Product Type

• Meat Substitutes
• Non-Dairy Ice Cream
• Non-Dairy Cheese
• Non-Dairy Yoghurt
• Non-Dairy Spread

By Distribution Channel

• Hypermarkets/Supermarkets
• Convenience Stores
• Online Retail Stores

By Application

• Dairy Alternatives
• Meat Alternatives
• Bakery and Confectionary
• Functional Foods
• Infant Foods
• Others

By Geography

• North America
  • USA
  • Canada
  • Mexico
• Europe
  • France
  • Italy
  • Germany
  • Spain
  • UK
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia Rest of Asia Pacific
• LAMEA
  • Latin America
  • Middle East
  • Africa

Key Players

• ADM
• Danone S.A.
• Eden Foods
• Pacific Foods Of Oregon, Llc.
• The Sahmyook Foods
• Nordic Soya Oy
• Cargill, Incorporated
• The Hain Celestial Group
• Blue Diamond Growers
• Miracle Soybean Food International Corp.

Global Solid-state Battery Market is expected to record a positive CAGR of ~30% during the forecast period 2022-2028: Ken Research

 A solid-state battery uses a solid as an electrolyte and has high energy density, better stability, and is safer in comparison to lithium-ion batteries. Different kinds of electrolytes could be used to increase the efficiency of a solid-state battery. Solid-state batteries are less expensive, safer, and more durable.

According to Ken Research Analysis, the Global Solid-State Battery Market is expected to record a positive CAGR of ~30% during the forecast period (2022-2028) and is expected to reach nearly US$ 3,000 million by 2028, owing to an increase in research and development activity on solid-state batteries.

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The increasing demand for the solid-state battery to offer high energy density is anticipated to propel the growth of the global solid-state battery market during the forecast period.  

• The surging demand for electric vehicles along with increasing investment and partnerships between battery manufacturers and automobile manufacturers is likely to propel the growth of the global solid-state battery market.

The global solid-state battery market faces challenges due to the high manufacturing cost of solid-state batteries.

• The availability of other substitutes such as graphene batteries, sand batteries, lithium-sulfur batteries, and others is also expected to restrict the growth of the market.

The COVID-19 pandemic positively impacted the solid-state battery market as countries-imposed lockdowns to curb the situation which resulted in a massive shift to remote and online working and as a result, the demand for electronics increased. Furthermore, the increase in cardiovascular diseases among patients suffering from COVID-19 boosted the demand for pacemakers as well as solid-state batteries.

Key Trends by Market Segment:

By Type: The thin film battery segment held the largest share of the global solid-state battery market by type in 2021, owing to the growing demand for thin film batteries for various applications including wearable devices, and others.

• The adoption of thin film batteries as they have a low impact on the environment as well as their efficient recharge rate and compact size are expected to fuel the demand for the segment in the global solid-state battery market.

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By Application: The consumer & portable electronics segment accounted for the largest share of the global solid-state battery market in 2021, attributed to the growing urbanization and increasing disposable incomes.

• The increase in demand for electronic goods such as mobile phones, laptops, and others among consumers is anticipated to aid the growth of the segment in the global solid-state battery market.

By Geography: Asia-Pacific region accounted for the largest share of the global solid-state battery market in 2021, due to the growing demand for electric vehicles.

• The increasing focus on the research and development of solid-state batteries along with supportive initiatives by the government to reduce carbon emissions for automobiles, is expected to augment the growth of the region in the solid-state battery market.

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Competitive Landscape

The solid-state battery market is highly competitive with ~100 players that include globally diversified players, regional players as well as a large number of country-niche players having their niche in the solid-state battery.

Regional players comprise ~45% of the total number of competitors, while the country-niche players comprise the second highest of the total number of competitors. However majority of the regional and country-niche players are suppliers of components or assembling & distribution partners of global players. Some of the major players in the market include Cymbet, Toyota Motor Corporation, Robert Bosch GmbH, Solid Power Inc., Excellatron, BrightVolt Inc., SK Innovation Co. Ltd, STMicroelectronics, Total Energies, and StoreDot, among others.

The leading global solid-state battery companies such as Toyota Motor Corporation, Excellatron, and BrightVolt Inc., are highly focused on the research and development of solid-state batteries.

Recent Developments Related to Major Players

• In June 2020, Toyota Motor Corporation and Panasonic Corporation partnered to form Prime Planet Energy and Solutions Inc., to focus on the development, manufacturing, and marketing of solid-state batteries for the automotive industry.
• In January 2022, SK Innovation Co. Ltd collaborated with a research team led by Professor Lee Seung-woo of Georgia Tech in the USA. The company aimed to advance the era of next-generation all-solid-state batteries.

Conclusion

The global solid-state battery market is forecasted to continue exponential growth, primarily driven by the increasing demand for solid-state batteries due to their high energy density for different applications. Furthermore, supportive government initiatives and increased R&D activities on the solid-state battery is expected to fuel the growth of the market. Though the market is highly competitive with ~100 participants, regional players control the dominant market share.

Note: This is an On-Demand/Planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for pre-booking clients, and the report delivered within a maximum of two working weeks.

Market Taxonomy

The Global Solid-State Battery market Size, Segments, Outlook, and Revenue Forecast 2022-2028 is segmented by type and application. In addition, the report also covers market size and forecasts for the four region's solid-state battery market. The revenue used to size and forecast the market for each segment is US$ million.

By Type         

• Thin Film Battery
• Portable Battery

By Application

• Consumer & Portable Electronics
• Electric Vehicles
• Energy Harvesting
• Wearable & Medical Devices
• Others

By Geography          

• North America (USA, Canada, Mexico)
• Europe (Germany, UK, France, Sweden, Italy)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Australia)
• LAMEA (Latin America, Middle East, Africa)

Key Players  

• Cymbet
• TOYOTA MOTOR CORPORATION
• Robert Bosch GmbH
• Solid Power Inc.
• Excellatron
• BrightVolt Inc.
• SK Innovation Co. Ltd
• STMicroelectronics
• Total Energies
• StoreDot

Global Plant-based Meat Market is expected to reach approximately US$ 15 billion by 2028: Ken Research

 Meat made from plants having proteins, fats, vitamins, minerals, and water components is plant-based meat, much like meat derived from animals. Modern plant-based meat resembles traditional meat in appearance, cooking method, and flavor. According to Ken Research Analysis, the global Plant-based Meat Market is expected to record a positive CAGR of ~15% during the forecast period (2022-2028) and is expected to reach approximately US$ 15 billion by 2028.

Consumers are preferring vegan options due to growing health concerns and animal welfare. In addition, people seek the same flavor and tenderness in food products as that found in meat and meat products made from animals in vegetarian alternatives. These are some of the primary factors that are expected to drive the Plant-based Meat Market. It is being increasingly adopted in food products like burgers patties, and sausages.

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Growing flexitarian and vegan populations as well as rising animal welfare initiatives across the world boost the market growth.

• Animal welfare has recently been pushed to the front of the world's eating habits. Animal humanization has been promoted on a larger scale by organizations like World Animal Protection (WAP) and People for the Ethical Treatment of Animals (PETA).
• Various cultural views have been dominated by animal welfare. According to several theological traditions, animals have the same levels of sensibility, consciousness, and feeling as people. As a result, eating animal meat has been strongly discouraged, and numerous jurisdictions have passed harsh laws outlining the killing of animals.

Lack of awareness in third-world countries, and the texture and taste of plant-based meats limit the market growth.

• Customers often search for high-quality products with reliable flavor and texture. Due to growing awareness of environmental and health issues, customers have recently begun to demand more nutrient-dense, clean-label, and sustainable products. Although plant-based meat substitutes offer nutritional advantages compared to those of animal meat, the main drawback is the taste and texture of the substitute. Moreover, in emerging economies, vegan culture, plant-based meat, and other meat alternatives are not yet popular and hence lack awareness among the larger audience.

The food industry experienced substantial fluctuations as a result of the COVID-19 pandemic, including disruptions in the transportation of goods and the availability of crucial materials. Despite these limitations, plant-based meat companies adapted and launched new products and increased sales up-to a certain extent.

The global trade ban imposed in reaction to COVID-19 caused problems in the food supply system. Distribution through the food service channels was severely hampered, and panic buying and pantry stocking resulted in a dramatic increase in retail sales over the previous year. During the early pantry-stocking phase, many plant-based meat categories saw exponential growth.

Key Trends by Market Segment

By Source: The soy source segment held the largest market share in the global Plant-based Meat Market in 2021.

• Branch amino acids (BCAAs), which are abundant in soy, improve the body's capacity to exercise, develop and strengthen muscle mass, and recover from a strenuous workout. Comparing soy-based meat products to traditional animal- and dairy-based food items, it not only has lower formulation costs but also has a lower carbon footprint. Growing consumer demand for the product due to its qualities such as improved microwave-ability and slice-ability is anticipated to fuel market expansion.

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By Type: The chicken segment held the largest share in the global Plant-based Meat Market in 2021.

• The over-slaughtering and depletion of animal sources are being caused by the rising demand for chicken meat, the growing population, and consumer preferences for meat products. As a result, especially among millennials and Gen Xers, sustainability is becoming increasingly important as a deciding factor when making purchases, in turn promoting the growth of the Plant-based Meat Market.

By Product: Burger patties product segment held the largest share in the global Plant-based Meat Market in 2021.

• Burger-producing companies are adopting ingredients that replicate the flavor, aroma and feel of meat which is pushing up the plant-based burger patties market in places across the globe. For example, The Impossible Burger, a product of Impossible Foods, has a characteristic meaty flavor since it is created with a genetically engineered form that mimics the natural heme-iron found in animals.

By Geography: Europe accounted for the largest market share in 2021 within the total Global Plant-based Meat Market in 2021.

• The growing vegan trend in Europe, particularly in the UK, is anticipated to boost demand for plant-based meat alternatives. To boost their sales in the local market, major manufacturers are pursuing strategic initiatives such as capacity development, product innovation, and mergers and acquisitions.

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Competitive Landscape

The global Plant-based Meat Market is highly competitive with ~300 players which include globally diversified players, regional players as well as a large number of country-niche players.

Country niche players constitute ~70% of the competitors, followed by regional players which hold 25% of the market presence. Some of the major players in the market include Beyond Meat, Impossible Foods Inc., Starbucks Corporation, Tofurky, Kraft Foods, Inc., Lightlife Foods, Inc., Maple Leaf Foods, Sunfed, VBites Foods Limited, Trader Joe's, Ojah B.V., and others.

Recent Developments Related to Major and Emerging Companies

• In June 2020, the official launch of the Zandbergen co-manufacturing plant in Zoeterwoude, Netherlands, marked the introduction of Beyond Meat, Inc.'s first co-manufacturing capabilities in Europe. It is intended to make Beyond Meat's products more effectively distributed throughout EMEA.
• In June 2022, Starbucks India in collaboration with the vegan meat firm, Imagine Meats, introduced a vegan menu, including a Vegan Croissant Bun with tomatoes, Vegan Sausage Croissant Roll with spiced tomato sauce, a sautéed vegetables, and chermoula, and a Vegan Hummus Kebab Wrap with green pea hummus and pickled carrots, for some of the Starbucks locations across the nation.
• In February 2022, A joint venture deal has been signed between food technology startup TheNotCompany and The Kraft Heinz Co. As part of the announcement of the partnership, Kraft Heinz stated that the project is intended to "reimagine global food production" and move the food industry closer to a "most sustainable" future.

Conclusion

The global Plant-based Meat Market is expected to continue the gradual growth during the forecast period. Consumers are choosing vegan options due to growing concerns about their health and the welfare of animals. Moreover, they also seek the same flavor and tenderness found in meat, and meat products made from animals, are key trends driving market expansion. The market is highly competitive with around 300 participants concentrating on expansion strategies through product innovations as well as acquisitions and mergers.

Note: This is an upcoming/planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for pre-booking clients, and the report delivered within a maximum of two working weeks.

Market Taxonomy

The Global Plant-based Meat Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 is segmented by source, type, and product. In addition, the report also covers market size and forecasts for the four major regions’ Plant-based Meat Market. The revenue used to size and forecast the market for each segment is US$ billion.

By Source     

• Soy
• Pea
• Wheat
• Others

By Type         

• Chicken
• Pork
• Beef
• Fish

By Product

• Burgers Patties
• Sausages
• Strips & Nuggets
• Others

By Geography          

North America

• USA
• Canada
• Mexico

Europe

• Germany
• UK
• France
• Spain
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• South Korea
• India
• Indonesia
• Australia
• Rest of Asia Pacific

LAMEA

• Latin America
• Middle East
• Africa

Key Players  

• Beyond Meat
• Impossible Foods Inc.
• Starbucks
• Tofurky
• Kraft Foods, Inc.
• Lightlife Foods, Inc
• Maple Leaf Foods
• Sunfed
• VBites Foods Limited
• Trader Joe's
• Ojah B.V.

Global Medical Tapes Market is expected to grow further to a size of ~US$2 billion by 2028: Ken Research

 Medical tapes are meant for direct application on the skin to take care of wounds and injuries and are also used for surgery and securement. Since these tapes come in direct contact with the skin, they need to be skin-friendly and easy to put on. To hold wounds and injuries better, the tapes should be strong and resilient and remain stuck to the skin efficiently when the patient is moving or bending. Not all medical tapes are essentially water-proof. The buyer needs to read the product description well if looking specifically for waterproof applications.

According to Ken Research Analysis, the Global Medical Tapes Market is estimated to have grown to a size of ~US$1.5 billion in 2022 from ~US$1 billion in 2017. The market is expected to grow further to a size of ~US$2 billion by 2028 at a CAGR of ~6% during the forecasting period of 2022-2028.  The growth can be attributed to the rise in Healthcare Acquired Infections, the increasing number of wounds, burns, injuries, and accidents reported at healthcare facilities, the availability of advanced products, and rising awareness among patients and physicians about the benefits of good-quality medical tapes.

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• Healthcare Acquired Infections (HAI) get transmitted while receiving treatment at a healthcare facility. These infections are capable of doing long-term damage to a person’s health by affecting one’s bloodstream, lungs, skin, urinary or digestive tract. Apart from performing inspections of healthcare facilities and hospitals at frequent intervals, there is hardly any other proactive measure to stop these infections from spreading. The proper use of medical tapes, in compliance with the storage and usage guidelines issued by public health authorities across countries and regions, can reduce the spread of Healthcare Acquired Infections. Simple innovations like single-use, individually packaged medical tapes have proven to be especially effective in minimizing the risk of HAI, resulting in a steady rise in the market.
• Businesses and individual scientific researchers are consistently active in making better-quality medical tapes. For instance, the Durapore Advanced Tapes by 3M, one of the key players in this market, has addressed three critical areas that make a medical tape successful. These areas/aspects include adhesion to tubing, adhesion to the skin in presence of moisture, and edge lift. According to a report published in the University of Washington website in 2022, Professor Eric Siebel, a UW researcher in Mechanical Engineering, has been successful at developing tapes that would stick strongly to the skin and yet become conveniently non-sticky when it comes to removal. Such innovations, resulting in the frequent launch of efficient products, have helped the market for medical tapes to grow in size.
• Despite moderate and steady growth, factors that limit the market’s potential include the lack of adequate guidelines on the use of medical tapes and the occurrence of Medical Adhesive Related Skin Injuries (MARSI). These injuries may fall into the categories of mechanical, dermatitis, and other types, and persist 30 minutes or more after the removal of the adhesive. While a mechanical MARSI may be caused by the force applied in removing the tape, the dermatitis type of injury can be allergic or non-allergic. Other types of MARSI include maceration and folliculitis.
• During the initial phase of the COVID-19 outbreak, healthcare facilities, including hospitals and ambulatory surgical centers, witnessed a significant decline in the number of surgeries. Across several geographies, severe dips were noted in the number of elective surgical procedures. This fall in demand resulted in lesser uptake of medical and healthcare consumables, including medical tapes. However, as the pandemic-induced restrictions started easing out, the market for medical tapes, along with other consumables, witnessed a rebound with resumed treatments and reappointed surgeries.

Key Trends by Market Segment

By Product Type:  Silk cloth tapes accounted for the largest share of the market in 2021. However, the growing use of silicone tapes among children and elderly patients, owing to this category’s enhanced safety features, is expected to make it the fastest-growing category during the forecast period of 2022-2028.

• Silk cloth tapes are strong and resilient. Moreover, its design allows it to leave minimal residue on the skin when removed. It also comes with several functional benefits. For instance, it can be torn according to the exact requirement without the help of scissors. Gently stroking the surface can maximize adherence.
• The growth potential of Silicone Medical Tapes stems from the clean and comfortable wearing experience it has to offer, its enhanced sticking properties, and the variety of formats in which it is available. These tapes can be conveniently used for both long and short-term applications and for chronic wounds as well.

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By Application:  Application-wise, the Wound & Injuries segment is estimated to hold a significantly larger share than the Surgeries and Securement segment.

• The use of medical tapes is more frequent in offering care for wounds and injuries. Medical tapes find thorough and consistent use in various stages of wound dressing. There are types of medical tapes available in the market that aid in minimizing pain during the process of recovery from wounds. The demand in this segment is also fueled by the growing instances of acute and chronic wounds.
• Demand in the Surgeries and Securement segment is generated by the post-operative care needs. Tapes are also increasingly being used to attach wearable health-parameter tracking devices to the human body.

By Distribution Channel:  Hospitals accounted for the largest share of the market in 2021 and is expected to retain dominance during the forecast period of 2022-2028.

• Most people prefer hospitals when it comes to undergoing surgical procedures, resulting in a consistently increasing demand for medical tapes in this segment.
• The resumption of elective surgical procedures, after the pandemic-induced restrictions, has helped the hospital segment to grow. Also, the increasing number of surgical procedures at an overall level is fueling growth.

By Region:  North America accounted for the largest share of the Global Medical Tapes Market in 2021.

• A host of factors is driving growth in the North American geography, including rises in hospital admissions and number of elective procedures. This growth is leading to an overall rise in the sales of medical consumables, including medical tapes.
• Europe and Asia Pacific have also emerged as significant markets for this segment. While growth in Europe is driven by the increase in number of surgeries in the region, Asia Pacific market benefits from its demographic dividend, noted especially in the largely populated countries of China and India.

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Competitive Landscape

The Global Medical Tapes market has ~250 players, including globally diversified players, regional players, and country-niche players having expertise in addressing specific needs prevalent in the healthcare scene of a specific region.

Large global players constitute ~10% of total competitors, while regional players hold the largest revenue share. Some of the major players in the market include 3M, Johnson & Johnson, Paul Hartmann, Scapa Group Plc., Ad Tape & Label, Medtronic, Avery Dennison Corporation, Nichiban Co. Ltd., Nitto Denko Corporation, Smith & Nephew, etc.

Recent Developments Related to Major Players

• In April 2022, 3M introduced an adhesive tape to the market that could be used for securing medical devices to a patient’s skin for up to three weeks or 21 days. The tape was launched under the brand name ‘3M Medical Tape 4576’. The company believes that the product would offer excellent adhesion in cases of extended wear and for both in and out of care facilities.
• Paul Hartmann company, one of the leading players in the segment, collaborated with Genesys Cloud CX platform to consolidate its digitisation strategy, realising the benefits of a robust IT-based network to succeed in this market. The collaboration will help in establishing a central digitisation system for the company with multiclient-enabled solutions.

Conclusion

The Global Medical Tapes market is expected to grow at a steady and moderate pace during the forecast period. Multiple factors will drive growth in this segment, including efforts undertaken to stop the rise in Healthcare Acquired Infections, increasing number of wounds, burns, injuries, and accidents, availability of high-quality medical-grade tapes, and rising awareness among a large segment of the population about the benefits of everyday hygiene.

Note: This is an upcoming/planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients, and the report delivered within a maximum of 2 working weeks.

Market Taxonomy

The Global Medical Tapes Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 is segmented into product type, application, distribution channel, and region. In addition, the report also covers the size and forecasts for the four major regions of the market. The revenue used to size and forecast the market for each segment is USD billion.

By Product Type             

• Adhesive Tapes
• Elastic Tapes
• Silicone Tapes
• Paper Tapes
• Silk Cloth Tapes

By Application 

• Wounds & Injuries
• Surgeries & Securement

By Distribution Channel

• Hospitals
• Ambulatory Surgical Centers
• Clinics
• Homecare Setting

By Region          

• North America (USA, Canada, Mexico)
• Europe (Germany, UK, Italy, France, Spain, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Australia, Indonesia, Rest of Asia Pacific)
• LAMEA (Latin America, Middle East, Africa)

Key Players       

• 3M
• Johnson & Johnson
• Paul Hartman
• Scapa Group Plc.
• Ad Tape & Label
• Medtronic
• Avery Dennison Corporation
• Nichiban Co. Ltd.,
• Nitto Denko Corporation
• Smith and Nephew

Global Air Compressor Market is expected to reach USD 40 bn by 2028: Ken Research

 The Global Air Compressor Market – which grew from around ~US$25 Bn in 2017 to nearly ~US$30 Bn in 2022 – is expected to grow further into a more than ~US$40 Bn opportunity by 2028. It is expected to record a positive CAGR of ~5% during the forecasted period (2022-2028), owing to the rapid growth in industrialization and rising investments to enhance the oil and gas pipeline network.

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Key Growth Drivers

• One of the main factors propelling the expansion of the global air compressor market is the expanding oil and gas sector. The market is expanding as a result of the increased energy demand in developing nations like China, India, and South Korea. According to India Brand Equity Foundation (IBEF) by 2045, it is anticipated that India's oil consumption will have increased by a factor of 2x, to reach 11 million barrels per day.
• Environmentally friendly compressor technologies, low maintenance, retrofitting of existing systems, efficient operation at lower costs, rising adoption of variable-speed systems, oil-free lubrication processes, and growth in the popularity of portable models are propelling the growth of the market.
• The global market is expanding due to the rising demand for air compressors that are energy-efficient in order to reduce operating costs. The market growth is anticipated to be positively impacted by the increasing initiatives taken by key industry players to create affordable and environmentally friendly air compressors. Several businesses have already created next-generation systems that provide high-performance capabilities at reasonable prices. Atlas Copco, a Swedish multinational industrial company, in 2022, has launched a New Energy-Efficient GA VSDS Compressor that provides up to 60% energy savings and intelligent, adaptable operation.

Key Trends by Market Segment

By Type: The Stationary segment held the largest market share of the Global Air Compressor Market in 2021, due to the extensive use of these compressors in the industrial sector.

• The expansion of air compressor market has been driven by the rising demand for stationary air compressors in the global manufacturing sector.
• Furthermore, the demand for stationary air compressors is anticipated to increase in the near future as a result of the rapid industrialization in developing nations like Saudi Arabia, the United Arab Emirates, India, Brazil, and China.

By Technology: Rotary segment held the largest share of the global air compressor market in 2021, due to the increased demand for rotary air compressors in major industries, including pulp and paper, mechanical and electrical machinery, mining and metallurgy, and electric power.

• A rotary compressor is a type of air compressor that creates compressed air using two rotating screws. In comparison to other compressor types, rotary screw air compressors are cleaner, quieter, and more effective.
• Strict government restrictions related to noise levels and greenhouse gases emitted by air compressors would be a significant barrier for this market. According to Legal Information Institute, a non-profit organization, portable air compressors with a maximum rated capacity of less than or equal to 250 cubic feet per minute (cfm) should not produce an average sound level in excess of 76 dBA when measured and evaluated in accordance with the methodology given by this regulation.
• Governments all over the world implemented stringent national lockdowns in 2020 as a result of the growing need to stop the COVID-19 illness from spreading. This in turn hindered a number of businesses and enterprises from expanding. The pandemic also had an impact on the air compressor market, which saw a significant fall in sales and profitability. But post-COVID-19, it's anticipated that a greater emphasis on energy efficiency, energy recovery, and lowering CO2 emissions would fuel demand for air compressors.

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By Lubrication: The oil-filled segment accounted for the majority share of the global air compressor market in 2021, as they were widely adopted for commercial applications in the energy, manufacturing, and chemical industries. They are durable and produce low noise compared to the oil-free compressor.

• Heavy-duty applications frequently use oil-filled segments because of their reliability and resistance to harsh environments. Higher operational output and improved air delivery are made possible by the durable construction and long-lasting design.
• Oil-filled compressors are more appropriate for industrial applications since they can work at a higher capacity. Another element that has contributed to the widespread use of these compressors in small- and medium-scale industrial applications is their affordability.
• Furthermore, several benefits of oil-free compressors, such as maintenance-free operation and a lower risk of contamination, are anticipated to be key factors in the market growth.

By Application: The manufacturing segment accounted for the largest market share in 2021 of the global air compressor market due to the increase in investments in the industrialization of developing and underdeveloped regions is driving the segment's expansion.

• Developing nations like India, China, and Brazil are rapidly industrializing, and the manufacturing sector is seeing an increase in demand for advanced and energy-efficient air compressors.
• In order to promote innovation in solar manufacturing and recycling, the Biden-Harris Administration in July 2022, announced a number of new programs and US$56 million in funding through the U.S. Department of Energy (DOE), these investments in the manufacturing segment help in accelerating the growth of the air compressor market.

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By Geography: Asia Pacific accounted for the largest market share in 2021 of the global air market, due to the increasing demand for air compressors in a number of sectors, such as manufacturing, home appliance, oil and gas, and food and beverage industries.

• In addition, there are numerous compressor producers in China and India. For instance, Compressor Products International (CPI) was acquired by a Howden Air and Gas Production Company in December 2021. Through this action, CPI was able to take advantage of development prospects and expand its global distribution and service networks in China.
• The manufacturers are also paying close attention to the attractive markets of India and Japan; their efforts are mostly focused on building production facilities and setting up established supply chains in the area. Additionally, in the recent past, the majority of consumers from various end-use industries have decided to seek out investments in the Asia Pacific region's emerging economies, which is pivoting the development of manufacturing clusters throughout those regions and driving up sales of goods for the manufacturing industry.

Competitive Landscape

The air compressor market is highly competitive with ~300 players which include globally diversified players, regional players as well as a large number of country-niche players having their niche in air compressors.

Country-niche players control about ~55% of the market, while regional players constitute ~30% of the total number of competitors by type. Some of the major players in the market include Ingersoll Rand Plc, Atlas Copco, Elgi equipment limited, MAT Holdings, Inc., Sullair, Mitsubishi Heavy Industries Ltd., Bauer Compressors, Inc., VMAC Company, Kirloskar Pneumatic, and Doosan Portable power

Recent Developments Related to Major Players

• In August 2019, the new line of cutting-edge compressors from Atlas Copco was introduced for small and medium-sized businesses. The new compressors contribute to cost- and production-cutting.
• In February 2021, the Mid-Range Series Portable Compressors from Sullair were introduced. The electronic spiral valve technology, which enables flexibility and improved operational efficiency, is integrated into this device.

Conclusion

The global air compressor is forecasted to continue the exponential growth that is witnessed since 2017, due to the increasing demand for products with higher operational output and efficiency is the primary concern that manufacturers are seeking to address in the market. Though the market is highly competitive with ~300 players, few global players control the dominant market share and regional players also hold a significant market share.

Note: This is an upcoming/planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients, and the report delivered within a maximum of 2 working weeks.

Ken Research has recently published report titled, Global Air Compressor Market Size, Segments, Outlook, and Revenue Forecast 2022-2028. In addition, the report also covers market size and forecasts for the four region’s Air Compressor Market. The revenue used to size and forecast the market for each segment is US$ Billion.

Market Taxonomy

By Type	Stationary Portable
By Technology	Rotary Centrifugal Reciprocating
By Lubrication	Oil-free Oil filled
By Application	Manufacturing Food & Beverage Healthcare/Medical Oil & Gas Home Appliances Energy & Power Electronics & Semiconductor Others
By Geography	North America (USA, Canada, Mexico) Europe (Germany, UK, Italy, France, Spain, Rest of Europe) Asia Pacific (China, India, Japan, South Korea, Australia, Indonesia, Rest of Asia Pacific) LAMEA (Latin America, Middle East, Africa)
Leading Companies	Ingersoll Rand Atlas Copco Elgi Equipments Limited MAT Holdings, Inc. Sullair Mitsubishi Heavy Industries Ltd. Bauer Compressors, Inc. VMAC Kirloskar Pneumatic Doosan Portable power

 

Global Water and Wastewater Treatment Equipment Market is expected to reach USD 75 bn by 2028: Ken Research

The Global Water and Wastewater Treatment Equipment Market was valued at ~US$ 35 billion in 2017. It is estimated to be ~US$ 50 billion in 2022 and is expected to reach a market size of ~US$ 75 billion by 2028 growing with a CAGR of ~7% during 2022 to 2028. Lack of freshwater resources to meet the regular demand of water consumption for usage is likely to drive the market growth.

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Key Growth Drivers

• Water scarcity i.e. lack of freshwater resources to meet the regular demand of water consumption for public usage drives the growth of the Global Water and Wastewater Treatment Equipment Market.
• According to UNICEF (United Nations International Children's Emergency Fund) which is an agency of the United Nations that provides humanitarian and developmental aid to children around the globe, stated that “Four billion people — almost two-thirds of the world’s population — experience severe water scarcity for at least one month each year”.
• The high installation, operational, and maintenance cost of wastewater treatment plants is one of the biggest challenges for the Global Water and Wastewater Treatment Equipment Market.
• The cost of a wastewater treatment plant directly affects the global Water and Wastewater Treatment Equipment Market as this equipment is majorly installed in wastewater treatment plants such as membrane separation and disinfectants.
• The COVID-19 pandemic slowed the growth of Global Water and Wastewater Treatment Equipment Market, owing to the shutdown of production activities in various industrial areas including water and wastewater treatment equipment manufacturing units. As a result, production showed a decline in Water and Wastewater Treatment Equipment market.

Key Trends by Market Segment

By Equipment:  The Membrane Separation segment held the largest market share in 2021 of the Global Water and Wastewater Treatment Equipment Market.

• The growth is primarily as the Membrane Separation process is purely physical and uses less energy in water treatment as compared to other equipment.
• The Membrane separation equipment follows the process where a membrane is used to separate waste materials from the water thus allowing only clear water to pass from the membrane.

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By Application: The Industrial segment held the largest market share in 2021, owing to the strict laws for industrial facilities regarding the release of wastewater from their manufacturing units.

• The Indian Government Water Law of 1974 revised in 2003 stated that the manufacturing industries have to install meters to determine the amount of water used by the Manufacturing unit as well as the industry should include operations, processes, treatment, and disposal systems that use water and generate wastewater.
• In July 2019, the Municipality of Dubai, the UAE, launched an industrial wastewater treatment plant, which is able to produce 450,000 L of water in 24 hours that can be used for irrigation purposes.

By Process: The Primary Treatment segment accounted for the largest market share in the process segment in 2021.

• Primary treatment is the first way to for treating water in a wastewater treatment plant, the primary treatment process includes the direct removal of sedimentation and solid waste from the water.
• It is highly effective and low in cost as the process requires less amount of equipment for water and wastewater treatment. Hence, primary treatment is widely adopted by many industries.

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By Geography: Asia Pacific accounted for the largest market share among all regions within the total Global Water and Wastewater Treatment Equipment Market in 2021.

• The growth is primarily due to the increasing population, rapid urbanization, and several government initiatives to create more water and wastewater treatment plant to deal with water scarcity.
• In September 2022, SUEZ won a contract of US$ 685 million to design, build and operate (DBO) a 500 MLD capacity Wastewater Treatment Facility in Mumbai, India that will serve a population equivalent to 2.5 million.

Competitive Landscape

The Global Water and Wastewater Treatment Equipment Market is highly competitive with ~350 players which include globally diversified players, regional players as well as a large number of country-niche players each with their niche in water and wastewater treatment equipment manufacturing. Large global players constitute ~15% of competitors, while country-niche players represent ~50% of competitors. Some of the major players in the market include Aquatech International LLC, Xylem Inc., DuPont, Ecolab Inc., Evoqua Water Technologies LLC, SUEZ, Pentair Plc., 3M, Veolia Water Technologies, United Utilities Group PLC, and among others.

Recent Developments Related to Major Players

• In January 2022, Veolia Water Technologies deliver a MBBR (Moving Bed Biofilm Reactor) solution to Tokoroa wastewater treatment plant in New Zealand, the MBBR highly effective biological treatment process that used conventional sludge process for wastewater treatment.
• In March 2017, SUEZ acquired GE Water. The acquisition helped SUEZ to enter into the industrial water and services market, as GE water has a strong presence across the entire industrial water value chain.
• In September 2017, DuPont merged with Dow chemical company which formed a new combined entity “DowDuPont” which works for three main divisions as Agriculture, Materials Science, and Specialty Products.

Conclusion

The Global Water and Wastewater Treatment Equipment Market are forecasted to continue growing during the forecast period primarily driven by water scarcity. Though the market is highly competitive with ~ 350 participants, few global players control the dominant share and country-niche players also hold a significant share. The market size is estimated to be ~US$ 50 billion in 2022 and is expected to reach a market size of ~US$ 75 billion by 2028 growing with a CAGR of ~7%. Asia-Pacific is the dominating region, owing to the rising population and urbanization.

Note: This is an upcoming/planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients, and the report delivered within a maximum of two working weeks.

Ken Research has recently published report titled, Global Water and Wastewater Treatment Equipment Market Size, Segments, Outlook, and Revenue Forecast 2022-2028. In addition, the report also covers market size and forecasts for the four major regions for Global Water and Wastewater Treatment Equipment Markets. The revenue used to size and forecast the market for each segment is US$ billion.

Market Taxonomy

By Equipment	Membrane Separation Biological Disinfection Sludge Dewatering Others
By Application	Municipal Industrial Others
By Process	Primary Treatment Secondary Treatment Tertiary Treatment
By Geography	North America (USA, Canada, Mexico) Europe (Germany, UK, Italy, France, Spain, Rest of Europe) Asia Pacific (China, India, Japan, South Korea, Australia, Indonesia, Rest of Asia Pacific) LAMEA (Latin America, Middle East, Africa)
Key Players	Aquatech International LLC Xylem Inc. DuPont Ecolab Inc. Evoqua Water Technologies LLC SUEZ Pentair Plc. 3M Veolia Water Technologies United Utilities Group PLC