Industrial Automation

  The growth of global   shunt reactor market   is linearly associated with energy demand worldwide, states a new study by Future Market Insights (FMI). Consumption of primary energy stood globally at 576 exajoules in 2019, with China, the US, and India leading the way. Alerted by increasing carbon footprint, the industrial sector is rapidly investing in renewables, which made up for around 40% of worldwide growth in primary energy in 2019, finds the study. The FMI report further opines that market players must innovate shunt reactors to meet the needs for power quality and voltage stability with grid integration of renewable energy sources. Although residential demand has scaled by up till 40% as customers are working from home, the upsurge is nowhere close to reversing the impacts of shutting down businesses, particularly in service sector. Shunt Reactor Market Size Study Air-core dry type shunt reactors to witness greater traction through 2030 Adoption of variable shunt reactors (VS

  As per a Future Market Insights’ (FMI) analysis, the   fire extinguisher market   is projected to be valued at over ~US$ 3.6 Bn in 2021, expanding at a CAGR of ~5.7% over the forecast period of 2021–2031. Increased industrial and commercial sector applications of fire extinguishers, along with the implementation of stringent regulations and building codes, are expected to drive demand over the forecast period. The ongoing COVID-19 pandemic crisis, on the other hand, has had a significant impact on the global economy. As a result, supply chain networks and manufacturing operations have been completely shut down. This has also harmed the overall operations of the fire extinguisher market. The market is however expected to witness lucrative opportunities during the forecast period owing to increasing demand from commercial and industrial sectors. New unit sales and replacement/retrofit jobs will contribute to growth. Increasing regulations for building design codes in the residential se

  Global sales of   electric motors   are set to be valued at over US$ 104 Bn in 2021, with a stable long-term projection, according to latest insights by Future Market Insights (FMI). A new report estimates the market to expand at over 5.1% CAGR from 2021 to 2031. According to Future Market Insights (FMI), increasing automation and robotics in industrial production sector have fuelled the demand for electric motors. The market also is gaining from rapid technological advancement and advent of industrial 4.0. The residential appliances segment, which primarily uses low power capacity motors, is expected to boost electric motor demand. Historically, the electric motor market has been regarded as a high volume-high value market. Electric motors consume 40% of total energy used in industries, according to Energy Association estimates. Instead, emphasis should be placed on promoting the use of high-efficiency motors. Demand for alternating current (AC) electric motors has been steadily inc

  It also saves money on maintenance because it outlasts all other steels. The use of wear-resistant steel plates reduces the weight of the equipment by 30–40%. As a result, the global   wear plates market   is expected to grow at a   CAGR of 6.3   percent between 2021 and 2031. According to Future Market Insights (FMI), the wear plates market is expected to grow rapidly in the near future, owing to the expansion of end-use industries and manufacturing applications. Wear plate market demand is expected to rise due to growing applications in waste management, pulp and paper, chemicals, and other industries over the forecast period. As a result, increased research and development activities will propel the wear plate market forward. It also saves money on maintenance because it outlasts all other steels. The use of wear-resistant steel plates reduces the weight of the equipment by 30–40%. As a result, the global wear plates market is expected to grow at a CAGR of 6.3 percent between 2021

  Global pre-insulated pipe sales are set to be valued at   US$ 5,470.5 Mn in 2021 , with a stable long-term projection, according to the latest market study from Future Market Insights, ESOMAR-certified research, and consulting firm. The report estimates the global   pre-insulated pipes market   to grow at nearly   5.8 % during 2021–2031 . The report offers analysis in 20+ high-growth countries, providing detailed insights on pre-insulated pipes configurations and applications that are likely to evolve in the coming decade. Demand for pre-insulated pipes increased moderately in 2020, influenced by the COVID-19 pandemic as well as developments in the end-use sectors of district heating and cooling, oil and gas, and others. However, given the possibility of economic stimulus in many countries, the market’s long-term outlook remains positive. Key Takeaways District heating and cooling system applications will witness higher demand owing to a growing transition away from conventional elec

  As per the latest report published by Future Market Insights, the global   busbars market   is projected to reach over US$ 23,177.7 Mn by the end of 2028, from US$ 18,278.9 Mn in 2022, registering a CAGR of 4.0%. According to the findings of the Busbars market study and the perspectives of industry participants, the global market is expected to grow at a CAGR of 4.0 percent in terms of value between 2022 and 2028. The introduction of new plants, lower wiring errors, and increased capacitance associated with busbars are some of the factors driving the growth of this market. Busbars distribute electricity with greater ease and flexibility than other permanent forms of installation and distribution. They are typically made of grounding and conducting copper or aluminium metallic strips. A list of Key Players Covered in the Busbars Market are: Schneider Electric SE Eaton Corporation Plc. Siemens AG ABB Methode Electronics Nacobre IUSA Group Rittal GmbH & Co. KG This Future Market Ins

  The global   air separation plant market   enjoys a valuation of US$ 5.9 Bn, and projected to expand at a CAGR of 5% to attain a net worth of US$ 7.9 Bn by the end of 2028. Strong demand for air separation plants in the healthcare industry is expected to be a prominent trend favoring overall market growth across regions. The global market for air separation plants will reach a valuation of US$ 7,891.1 Mn by 2028, growing at a steady CAGR of 4.9 percent, with China holding the majority of the global market share in the coming decade. Furthermore, many industrial activities are shifting toward high purity gases, which is boosting innovation in the air separation plant market. Chemical properties such as reactivity and physical properties such as density, boiling point, and vapour pressure make these gases suitable for use in a variety of industries — they are known as fuel gases, medical gases, refrigerant gases, or specialty gases depending on the industry. An Overview of the Global A