Asia-Pacific Mobile Cranes Market To Prosper in Near Future

From $13.0 billion in 2020, the global mobile cranes market value is predicted to surge sharply by 2030, as per the estimates of P&S Intelligence, a market research company based in India. The market is being propelled by various factors, such as the surging construction activities and rapid industrialization, especially in emerging economies. In addition, the growing adoption of the global positioning system (GPS) technology is also driving the growth of the market across the globe. 

With the mushrooming population all over the world, the governments of many countries are making huge investments in large-scale infrastructure development and construction projects. In addition, due to the soaring purchasing power of people, increasing government efforts for providing affordable housing, and rapid urbanization, huge investments are being made in the construction of apartments, hotels, offices, civic infrastructure facilities, and retail centers. For example, the Indian government allocated a budget of $212.8 billion in April 2020 for the development of roads over the next two years. 

Furthermore, the changing lifestyles of people, especially in developing nations, are also fueling the requirement for housing, which is, in turn, propelling the demand for mobile cranes. Depending on type, the mobile cranes market is divided into side-lifter, rough-terrain, crawler crane, telescopic handler, all-terrain, and truck-mounted categories. Out of these, the truck-mounted category contributed the highest revenue to the market in the past. This was because of the high requirement for the movability and flexibility of construction equipment in order to facilitate faster infrastructure development. 

When application is taken into consideration, the market is classified into industrial, utility, and construction. Amongst these, the construction category dominated the market in the past years. This is ascribed to the surging renovation and construction activities around the world. Furthermore, the rapid construction of pavements, rail and road bridges, and high-rise buildings is also propelling the progress of the category in the market. Across the globe, the Asia-Pacific region is predicted to generate the highest revenue in the mobile cranes market in the coming years.

Hence, the demand for mobile cranes will surge sharply in the coming years, primarily because of the increasing construction and infrastructure development activities and rapid industrialization and urbanization across the globe. 

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How Will Extensive Food Demand Strengthen Seed Treatment Market?

A number of factors such as the burgeoning demand for basic grains and vegetables on account of the booming population, increasing support of governments and private organizations for the agriculture sector, soaring need for biofuels, and surging use of technologically advanced solutions are expected to propel the seed treatment market growth in this decade. In recent years, technological advancements in seed coating delivery systems have become a prominent market trend.

The rising need for basic grains and vegetables, owing to the booming global population, will drive the global demand for seed treatment products in the coming years. As per the UNFPA, the global population will grow from 7.7 billion in 2019 to approximately 9.7 billion by 2050 and nearly 11 billion around 2100. Population boom will create a huge requirement for seed treatment products, as good quality seeds are the basic need to increase crop production and its quality.

According to P&S Intelligence, the cereals and grains category, within the crop type, held the largest share in the seed treatment industry in 2020, and it is also expected to retain its dominance in the coming years. This can be attributed to the soaring per capita income and the booming population. With a surge in per capita income, people around the world are consuming a high volume of barley, sorghum, ragi, corn, and rice. Additionally, the increasing urbanization rate and the changing customer taste, occupational structures, and lifestyle will also boost the market growth in this category. 

Presently, the seed treatment industry is dominated by Adama Ltd., Bayer AG, BASF SE, Corteva Inc., Croda International Plc, Eastman Chemical Company, FMC Corporation, Nufarm Limited, Novozymes A/S, and Syngenta AG. Nowadays, these players are actively focusing on product launches to consolidate their position. For instance, in March 2020, Corteva Inc. unveiled Lumivia CPL, a non- neonicotinoid-based seed treatment product, to protect the seeds of lentils, cereals, and peas from pests.

Thus, the booming need for food products and biofuels will drive the demand for seed treatment products, worldwide. 

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Why is European Water Pump Market Booming in Germany?

The European water pump market revenue stood at $707.2 million in 2020, and it is predicted to surge to $848.3 million by 2030. According to the estimates of the market research company, P&S Intelligence, the market will progress at a CAGR of 1.8% from 2020 to 2030 (forecast period). The major factors driving the expansion of the market are the rapid depletion of ground water level, increasing consumer spending, surging infrastructure development activities, and rapid urbanization in the region.

Rapid urbanization is one of the major European water pump market growth drivers. As per the World Bank, the urban population in the European Union member countries surged from 322 million in 2010 to 335 million in 2020. Additionally, according to the organization, the share of the urban population in the total population of the region increased to 74.9% in 2020 from 73.9% in 2015. Hence, with the rising urbanization rate, many governments are increasingly focusing on developing better infrastructure, as the booming population is creating pressure on the already existing drinking water and utility water infrastructure of the region.

Germany dominated the European water pump market in the past. This was because of the enactment of stringent wastewater treatment policies, which domestic sewage treatment plants are required to adhere to. In addition, as per EUROPUMP, which is also called the European Association of Pump Manufacturers, the demand for reducing the energy consumption of pumps will propel the need for energy-efficient water pumps, which will, in turn, fuel the growth of the regional market in the coming years. 

Thus, it can be concluded from the above paragraphs that the sales of water pumps will shoot up in Europe in the years to come, primarily because of the rapid urbanization, depletion of ground water level, and increasing implementation of massive infrastructure development initiatives by the governments of several countries in the region.

Read More: https://www.psmarketresearch.com/market-analysis/europe-water-pump-market

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Why is Electric Motor Market Expanding Rapidly in Asia-Pacific?

The global electric motor market revenue stood at $105.5 billion in 2020, and it is predicted to surge to $195.1 billion by 2030. According to the estimates of the market research company, P&S Intelligence, the market will demonstrate a CAGR of 6.3% from 2020 to 2030. The major factors fueling the expansion of the market are the growing compliance for energy-efficient electric motors, surging deployment of electric vehicles (EVs), and mushrooming use of electric motors for various applications.

The adoption of EVs has increased massively in recent years, primarily because of the surging concerns over the rapid environmental degradation. As per the International Energy Agency (IEA), the sales of electric cars grew from 2.1 million in 2019 to 3.24 million in 2020. Moreover, as per the Electric Vehicle Outlook 2020 report, the share of EVs in the global sales was 3% in 2020 and it is predicted to rise to 7% by 2023, with sales of nearly 5.4 million.

As electric motors are crucial components of EVs, the growing deployment of these new energy vehicles is positively impacting the growth of the electric motor market. The other major factor driving the expansion of the market is the ballooning adoption of energy-efficient electric motors, on account of the burgeoning requirement for reducing energy consumption by various high-power consuming industries. Electric motors account for nearly 70% share in the total energy consumption in a manufacturing industry. As electric motors are responsible for almost half of the energy consumption in a manufacturing industry, these industries are rapidly deploying energy-efficient electric motors.

The players operating in the industry are focusing on mergers and acquisitions in order to strengthen their position. For example, AMETEK Inc. acquired EGS Automation, Crank Software, and Magnetrol International in March 2021. The organization spent around $270 million in the acquisition of these firms, which recorded annual sales of around $120 million. With the help of this acquisition, Magnetrol International expanded AMETEK’s level measurement solutions portfolio, EGS Automation enhanced AMETEK’s automation solutions portfolio, and Crank Software provided graphical user interface design capabilities to AMETEK.

Hence, the market will exhibit huge expansion in the forthcoming years, mainly because of the growing deployment of EVs all over the world.

Read more: https://www.psmarketresearch.com/market-analysis/electric-motor-market

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Why Are Customers Shifting from Natural Fibers to Synthetic Fibers?

Over the last few years, customers have shifted from natural fibers to synthetic or man-made fibers due to the cost-effectiveness, wider application base, and abundant availability of the latter. Additionally, higher strength, elasticity and resistance to wear of synthetic fibers make them more sought after than natural variants. As man-made fibers are not dependent on agricultural produce and favorable temperature ranges, which are inconsistent due to global warming, their production will not be hindered by changing agriculture patterns and weather conditions.

Acrylic, polyester, polyolefin, and nylon are the different types of synthetic fibers being produced in contemporary times. In recent years, the consumption of polyester fibers has significantly surged in heavy-duty industrial applications, such as conveyor belts, due to their high strength and elasticity, low cost, and recyclability. Thus, the increasing consumption of polyester will help the synthetic fibers market prosper during 2021–2030. According to P&S Intelligence, the market generated ~$60.0 billion revenue in 2020.

Moreover, the expanding clothing industry will also accelerate the consumption of synthetic fibers in the forthcoming years. For instance, the Ministry of Textiles, Government of India, states that cloth production (excluding wool, silk, and khadi) in the country grew from 66,845 million square meters (sq. mtr.) during 2017–2018 to 70,046 million sq. mtr. during 2018–2019. Furthermore, the National Council of Textile Organization (NCTO) states that U.S. textile and apparel shipments stood at $64.4 billion in 2020.

Apart from industrial and clothing applications, synthetic fibers are also used in automotive, home furnishing, and filtration applications. For example, automobile manufacturers use polyester fibers in the production of insulation materials, automobile carpets, fuel filters, door panels, seat fabrics, airbags, tires, and air filters. Customers can avail these fibers from offline and online distribution channels. In the forthcoming years, end users will show high interest in online channels, because e-commerce platforms offer easy accessibility and convenience of shopping to customers.

In recent years, synthetic fiber producers, such as Toray Chemical Korea Inc., Teijin Frontier Co. Ltd., Lenzing AG, Indorama Corporation, Toyobo Co. Ltd., E. I. du Pont de Nemours and Company, The Dow Chemical Company, and Bombay Dyeing & Manufacturing Co. Ltd., have been engaging in mergers and acquisitions to reach out to a larger number of customers. For example, in March 2021, Teijin Frontier Co. Ltd. merged its subsidiary companies— Teijin Modern Yarn Co. Ltd. and Shinwa Limited to develop, produce, process, and sell yarns under a new name, Teijin Frontier Knitting Co. Ltd.

Globally, the Asia-Pacific region dominated the synthetic fibers market in the recent past, due to the large-scale production of acrylic, polyester, nylon, and other man-made fibers in India, Taiwan, Japan, and South Korea. For instance, according to the Ministry of Textiles of the Government of India, India produced over 1441 million kg of synthetic fibers during 2017–2018. Furthermore, the Ministry reported that India is the second largest producer of viscose and polyester in the world. 

Thus, the wide application base of synthetic fibers will amplify their consumption in the upcoming years.

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How Will Automobile Sector Facilitate Physical Vapor Deposition Technology Use?

According to OurWorldInData, the installed solar energy capacity of the world increased from 580.76 gigawatts (GW) in 2019 to 707.50 GW in 2020. Further, the International Energy Agency (IEA) forecasts that China, the U.S., Europe, India, and Latin America will add 35.3 GW, 18.8 GW, 23.6 GW, 11.1 GW, and 6.8 GW to their net solar photovoltaic (PV) capacity, respectively, in 2022. The surging adoption of solar energy products, on account of the soaring preference for clean and green energy, will facilitate the use of physical vapor deposition (PVD) components in the coming years.

Moreover, the large-scale integration of advanced technologies in automobiles, especially electronics and semiconductors, will help the physical vapor deposition market grow during 2021–2030. According to P&S Intelligence, the market generated $20 billion in 2020. PVD, a vacuum deposition process, is used to fabricate thin films and micro-structure and nanostructured coatings, which are used in semiconductors and coatings of automobiles. The ongoing advancements being made in nanoscience will augment the use of PVD technology-based coatings in vehicles globally.

Currently, the physical vapor deposition market is dominated by Angstrom Engineering Inc., Tokyo Electron Limited, Impact Coatings AB, Advanced Energy Industries Inc., Sulzer Ltd., IHI HAUZER Techno Coating B.V., Applied Materials Inc., Richter Precision Inc., Denton Vacuum LLC, PLATIT AG, OC Oerlikon Corporation AG, Plasma Quest Limited, and Kurt J. Lesker Company. Nowadays, these companies are unveiling novel products, entering into collaborations, and signing acquisition agreements to cater to the needs of existing and potential clients.

Globally, the Asia-Pacific region was the dominant user of PVD components and processes in the preceding years, and it is expected to retain its dominance in the upcoming years. This can be primarily credited to the surging adoption of flash and dynamic random-access memory (DRAM) in Japan, India, and China. Additionally, the booming semiconductor industry, on account of the growing penetration of smartphones and laptops, will also propel the use of PVD technology in the region.  

Thus, the rapid shift toward solar energy and the widescale integration of semiconductors in vehicles will fuel the adoption of PVD components in the foreseeable future. 

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How Is Construction Sector Reducing Waste through 3D Printing Technology?

The construction sector generates a considerable amount of waste, owing to which they are using 3D printing for construction as the technology utilizes the exact volume of material required to print the structure, thereby mitigating the generation of large volumes of waste. For instance, the Environmental Protection Agency (EPA) estimates that the construction industry in the U.S. generated 600,330 tons of debris in 2018. Further, the Center for Science and Environment (CSE) states that India generates approximately 150 million construction and demolition debris waste every year. 

Thus, the increasing awareness among construction companies about the necessity of reducing construction waste, owing to the rising consciousness regarding environmental degradation, is expected to propel the 3D printing construction market growth during the forecast period (2021–2030). According to P&S Intelligence, the market generated ~$15 million revenue in 2020. In recent years, the advent of sand 3D printing and metal and robotic arm extruders technologies has led to the development of new construction methods, as such technologies that facilitate the creation of complex and unusual designs and shapes.

At present, construction companies are using metals, composites, and concrete to create 3D structures. Construction firms use these materials in extraction and powder bonding methods to develop complex and intricate designs. In the coming years, the extrusion method will be preferred over the power bonding method, due to the increasing construction of building and expanding infrastructure sectors. This method allows for the usage of conventional construction materials, such as cement, clay, concrete, and geopolymers, in on-site construction applications. 

The end use segment of the 3D printing construction market is bifurcated into infrastructure and building. Under this segment, the building category is expected to display the faster growth during the forecast period, due to the expanding construction industry in developing nations and the increasing need for affordable housing. Moreover, the burgeoning demand for high-performance and complex designs that can be conveniently transformed to life will also contribute to the growth of this category worldwide.

In recent years, companies, such as Xtreee, Mx3D, Contour Crafting, Yingchuang Building Technique (Shanghai) Co. Ltd., Cybe construction, and Beijing Huashang Luhai Technology, have increased their presence in developing countries to reach out to a greater number of customers. For instance, Yingchuang Building Technique (Shanghai) Co. Ltd. printed the office of the Dubai Municipality in February 2021. This office is the first 32-printed commercial building and it is mentioned in the Guinness Book of World Records.

Globally, the Asia-Pacific 3D printing construction market generated the highest revenue in 2020, and it is expected to demonstrate the fastest growth in the forecast years. This can be credited to the soaring number of buildings being constructed through sustainable methods, increasing number of manufacturing units, and rising research and development (R&D) activities. Additionally, the strong presence of numerous construction companies also contributes to the market growth in the region. Among APAC countries, Japan and China hold immense growth potential for emerging technologies such as 3D printing for construction.

Thus, the surging focus of construction companies on reducing waste and increasing availability of technologically advanced construction methods will accelerate the adoption of 3D printing technology in the construction sector. 

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