Food Processing Equipment Market Size Is Anticipated To Reach at $89.31 Billion by 2028

 

Food Processing Equipment Market Growth & Trends

The global food processing equipment market size is expected to reach USD 89.31 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.1% from 2021 to 2028. The changing lifestyle of people, increasing inclination toward nutritious food, and awareness about the health benefits of marine products are expected to surge the product demand over the coming years.

Population growth and rising disposable income, along with increasing urbanization, are expected to drive the consumption of processed foods, which, in turn, is expected to benefit the industry growth. Moreover, the governments of Middle Eastern countries are focusing on reducing their reliance on the petroleum sector and promoting investments in industries, such as construction, automotive, and food and beverage.

Farmed fish solutions for the marine industry had provided a convenient solution for the demand-supply imbalance. However, the industry witnessed a price hike for fresh and processed fish. The positive economic condition of the market and potential customers are some of the prominent factors that assure the prominent growth of the market over the forecast period.

Rising population, dietary shifts, and a rise in spending power influence the market growth, which exerts pressure on the industry to fulfill the ever-increasing demand of the world. In addition, the growing need for equipment in the wake of the rising consumption of processed foods in the developing economies in Asia Pacific is expected to drive the industry.

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Food Processing Equipment Market Report Highlights

• By type, the processing equipment is expected to witness the fastest growth over the forecast period owing to the high demand for processed products and the increasing popularity of healthy and packaged food
• Based on mode of operation, the automatic processing equipment segment is expected to expand at the fastest CAGR of 6.9% from 2021 to 2028 owing to the high demand for technological development, growing use of automation, and strong research and development capabilities of market players
• The rise in demand for fast and packaged food is expected to compel manufacturers to expand their production capabilities, which is likely to trigger product demand over the forecast period
• The market in Brazil is expected to expand at a CAGR of 5.1% from 2021 to 2028 owing to the untapped opportunities and customer base
• Industry participants are adopting strategies, including distribution network expansion, new product developments, mergers & acquisitions, and partnerships, in order to gain a competitive edge in the industry

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Food Processing Equipment Market Segmentation

Grand View Research has segmented the global food processing equipment market on the basis of mode of operation, type, application, and region:

Food Processing Equipment Mode of Operation Outlook (Revenue, USD Billion, 2017 - 2028)

• Automatic
• Semi-automatic

Food Processing Equipment Type Outlook (Revenue, USD Billion, 2017 - 2028)

• Processing Equipment
• Pre-processing Equipment

Food Processing Equipment Application Outlook (Revenue, USD Billion, 2017 - 2028)

• Bakery & Confectionaries
• Meat, Poultry, & Seafood
• Beverage
• Dairy
• Fruit, Nut, & Vegetable
• Grains
• Others

Food Processing Equipment Regional Outlook (Revenue, USD Billion, 2017 - 2028)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK.
  • France
  • Italy
• Asia Pacific
  • China
  • India
  • Australia
  • Japan
  • South Korea
• Central & South America
  • Brazil
• Middle East & Africa
  • South Africa

List of Key Players of Food Processing Equipment Market

• GEA Group Aktiengesellschaft
• BAADER Group
• Bühler AG
• Marel
• Alfa Laval
• Tetra Laval International S.A.
• Krones AG
• The Middleby Corporation
• JBT Corporation
• SPX Flow Inc.

About Grand View Research

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

Industrial Pumps Market Predicted to Witness Steady Growth During the Forecast Period

 Industrial Pumps Market Growth & Trends

The global industrial pumps market size is expected to reach USD 81.87 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 3.9% from 2021 to 2028. Rising product demand from the water and wastewater, oil and gas, and chemical industries on account of the rapid population growth and industrialization across the globe is anticipated to drive the market.

Rapid technological advancements have resulted in augmenting the reliability of the pumps, enhancing basic process tasks, and providing a long-term reduction in everyday operating processes. These rising advancements have also resulted in the reduced energy consumption, enhanced pump performance, and reliability, thereby augmenting the product penetration.

Rising investments by the key pump manufacturers to develop low-cost manufacturing processes and advanced technology that focuses on higher productivity are anticipated to boost market growth over the forecast period. Furthermore, increasing expenditure on the development of infrastructure in various countries is expected to have a positive impact on market growth.

The investments in the chemical industry slowed down in 2020 on account of the containment measures implemented by various governments to limit the spread of COVID-19, coupled with the declining crude oil prices. In addition, the delay in the construction of approved chemical projects caused due to the intensifying COVID-19 situation globally is likely to hamper the market growth.

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Industrial Pumps Market Report Highlights

• The centrifugal pump product segment held the largest revenue share in 2020 owing to its characteristics, including high flow rate deliverability, the capability of raising pressure inside pump casing, and high transmission velocity
• The water and wastewater application segment accounted for the largest share of 24.7% in 2020 owing to the rising demand for lift and sewage pumps attributed to the expanding industrial platforms and accumulation of wastewater in large volumes
• Asia Pacific accounted for the largest share of 44.9% in 2020 on account of the increasing investments in manufacturing projects, coupled with the expanding chemical and power generation industry in the region
• The market in India is expected to expand at a CAGR of 5.1% from 2021 to 2028 owing to the presence of a robust chemical industry, coupled with the rapid growth of the manufacturing sector

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Industrial Pumps Market Segmentation

Grand View Research has segmented the global industrial pumps market on the basis of product, application, and region:

Industrial Pump Product Outlook (Revenue, USD Million, 2017 - 2028)

• Centrifugal Pump
  • Axial Flow Pump
  • Radial Flow Pump
  • Mixed Flow Pump
• Positive Displacement Pump
  • Reciprocating
  • Rotary
  • Others
• Others

Industrial Pump Application Outlook (Revenue, USD Million, 2017 - 2028)

• Oil & Gas
• Chemicals
• Construction
• Power
• Water & Wastewater
• Others

Industrial Pump Regional Outlook (Revenue, USD Million, 2017 - 2028)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK.
  • France
  • Italy
• Asia Pacific
  • China
  • India
  • Japan
• Central & South America
  • Brazil
  • Argentina
• Middle East & Africa
  • United Arab Emirates
  • Saudi Arabia

List of Key Players of Industrial Pumps Market

• Grundfos Pump Corp.
• Xylem, Inc.
• Ingersoll-Rand PLC
• Flowserve Corp.
• SPX Flow, Inc.
• KSB SE & Co. KGaA
• Sulzer Ltd.
• Pentair PLC

About Grand View Research

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

Virtual Fitting Room Market Expected to Witness a Sustainable Growth over 2028: Grand View Research Inc.

 Virtual Fitting Room Market Growth & Trends

The global virtual fitting room market size is expected to reach USD 15.43 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 25.2% from 2021 to 2028. The prevalence of high-tech simulations to mimic face-to-face buying behavior with the help of advanced 3D technologies is expected to drive the market. Furthermore, the intervention of digital transformation technologies, such as Augmented Reality (AR) and Artificial Intelligence (AI), is projected to create enormous opportunities for virtual fitting rooms over the forecast period.

The virtual try-on technology is significantly beneficial for retailers and is gaining popularity amongst consumers in recent times. Online merchandising witnesses a large number of returns/exchanges majorly because of the customer’s dissatisfaction regarding inappropriate fits and sizes. The virtual fitting room technology has been efficiently assisting consumers in trying and rejecting the products before placing an order, thereby converting one-time buyers into repeat customers.

Furthermore, companies are coming up with upgrades that can provide tactile, fabric, or texture sense for consumers purchasing via e-commerce websites to reduce return rates and build brand loyalty. The customer data collected through an interactive mirror is used to understand customer preferences and improvise strategies aimed at boosting sales. This is a breakthrough in the retail industry to leverage purchase data for designing future business strategies.

The COVID-19 pandemic has compelled governments worldwide to enforce regulations for temporarily closing brick and mortar stores, which indirectly boosted sales on e-commerce websites. With retail sales observing a dip in the past few months, buyers have now swiftly shifted to e-commerce websites. This creates significant opportunities for virtual fitting room solution providers to capture a more extensive customer base.

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Virtual Fitting Room Market Report Highlights

• The apparel application segment accounted for the largest share of close to 40.0% in 2020. The development of customized applications to recommend appropriate size and texture of clothes as per the body structure of customers has contributed to the growth of this segment
• By component, the software segment is expected to witness the fastest growth over the forecast period. This can be attributed to technological breakthroughs in software solutions, such as precise data annotations, 360-degree visualizations, and 3D simulation
• In terms of end-use, the virtual store segment is likely to register the highest CAGR from 2021 to 2028. The shift in shopping trends from physical stores to online websites is anticipated to majorly contribute to the segment growth

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Virtual Fitting Room Market Segmentation

Grand View Research has segmented the global virtual fitting room market on the basis of component, application, end-use, and region:

Virtual Fitting Room Component Outlook (Revenue, USD Billion, 2016 - 2028)

• Hardware
• Software
  • On-premise
  • Cloud
• Services
  • Installation
  • Support & Maintenance
  • Consulting

Virtual Fitting Room Application Outlook (Revenue, USD Billion, 2016 - 2028)

• Apparel
• Beauty and Cosmetic
• Eyewear
• Footwear
• Others

Virtual Fitting Room End-use Outlook (Revenue, USD Billion, 2016 - 2028)

• Physical Store
• Virtual Store

Virtual Fitting Room Regional Outlook (Revenue, USD Billion, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Spain
  • Italy
  • Russia
• Asia Pacific
  • China
  • Australia
  • Japan
  • South Korea
• Latin America
• Middle East & Africa

List of Key Players of Virtual Fitting Room Market

• AstraFit
• Else Corp Srl
• Fision AG
• Fit Analytics
• FXGear Inc.
• Magic Mirror
• MemoMi Labs Inc.
• Metail
• Perfitly

About Grand View Research

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

U.S. Home And Garden Fungicides Market Forecasted to Grow at Steady Pace During 2021-2028: Grand View Research Inc.

 U.S. Home And Garden Fungicides Market Growth & Trends

The U.S. home and garden fungicides market size is expected to reach USD 547.7 million by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.0% from 2021 to 2028. The market is expected to flourish over the years owing to the growing inclination of the end users toward landscaping. The increasing demand for home and garden fungicides, such as captan, folpet, dithiocarbamate, pentachlorophenol, and mercurial, is boosting the growth of the overall market.

Gardening as a hobby is particularly popular among Americans, with a record number of youngsters taking up gardening as a hobby. According to the National Gardening Survey 2018 conducted by the American Horticultural Society (AHS), an average household spent around USD 503 on lawn and garden products as well as services, which was an increase of about USD 100 as compared to 2017. Additionally, an increase in the number of garden centers and retail nurseries is one of the key factors expected to drive the market during the forecast period.

Current trends including organic gardening, kitchen gardening, urban farming, and small-space gardening are supporting the growth of the market. Garden owners frequently take up gardening as a hobby and their focus on developing various skills drives the demand for the requisite tools and consumables. Additionally, homeowners have started to use vacant areas for gardening to improve their physical and mental wellness.

Despite the positive outlook, in recent years, numerous products have been developed with wide-ranging effects owing to the rapidly developing technologies. Fungicides are one such class of chemical substances. Fungicides have been a crucial part of gardening and agriculture as they safeguard crops from fungal infestations and prevent yield reduction. Regardless of their usefulness, fungicides could cause potential risks to food safety, the environment, and all living things.

Technological advancements are changing the adoption and acceptance of home and garden fungicides and this factor is expected to have a profound implication on the future of the market. Relatively low-cost and eco-friendly products are projected to offer immense growth opportunities to the market in the near future. For instance, organic fungicides are proving a safer alternative to synthetic fungicides in certain cases, which widens the scope of the market.                

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U.S. Home And Garden Fungicides Market Report Highlights

• In terms of product, the organic segment is projected to expand at the fastest CAGR of 6.7% from 2021 to 2028. This is attributed to the growing awareness among consumers about the benefits of adopting organic fungicides
• Based on form, the liquid segment dominated the market with a share of around 60.0% in 2020. This is attributed to the prominent penetration rate of liquid fungicides
• By application, the turf and ornamentals segment accounted for the largest share of over 66.0% in 2020 and is foreseen to remain at the forefront in the coming years

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U.S. Home And Garden Fungicides Market Segmentation

Grand View Research has segmented the U.S. home and garden fungicides market on the basis of product, form, and application:

U.S. Home & Garden Fungicides Product Outlook (Revenue, USD Million, 2016 - 2028)

• Organic
• Inorganic

U.S. Home & Garden Fungicides Form Outlook (Revenue, USD Million, 2016 - 2028)

• Dry
• Liquid

U.S. Home & Garden Fungicides Application Outlook (Revenue, USD Million, 2016 - 2028)

• Home Garden
• Turf & Ornamentals
  • Golf Course
  • Lawn & Landscape
  • Ornamentals

List of Key Players of U.S. Home And Garden Fungicides Market

• Bayer AG
• Syngenta AG
• BASF SE
• Nufarm
• Corteva Agriscience
• Spectrum Brands Holdings, Inc.
• Certis USA L.L.C.
• Central Garden & Pet Company
• The ScottsMiracle-Gro Company

About Grand View Research

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

Americas Range Hood Market Trends, Growth Prospects To 2028: Grand View Research Inc.

 Americas Range Hood Market Growth & Trends

The Americas range hood market size is expected to reach USD 6.11 billion by 2028, registering a CAGR of 4.0% over the forecast period, according to a new report by Grand View Research, Inc. Changing lifestyles, exposure through traveling, and design innovations have set the pace for new modern standards of living. With higher spending capability as well as improved infrastructure facilities, the need for comfort in the kitchen has triggered a positive impact on the market.

The growing home values have doubled homeowner equity, indicating a trend of homeowners feeling richer and disposed towards spending money on home improvement. The online home remodeling platform Houzz reported a 58% uptick in the project leads for home professionals in June 2020, as compared to the same month the previous year. Similarly, kitchen and bath remodeling projects picked up by 40%, according to the agency. According to Home Improvement Research Institute (HIRI), home improvement spending by Americans was likely to reach USD 439.9 billion in 2020, incurring a rise of 8.7% in spending.

With an increasing number of families considering the kitchen as a central gathering place in the home, the focus on renovating and improvising the area has been growing. For instance, the 2019 U.S. Houzz Kitchen Trends Study found that spending on both median and large kitchen remodels increased by 10% from 2018. Furthermore, an increasing number of millennials are buying homes, particularly older homes that require more repairs. According to studies by HomeAdvisor, millennials are investing in a greater number of home improvement projects each year compared to other age groups.

The increasing infrastructural developments, as well as new building permits in the region, are expected to boost the market growth. According to the U.S. Census Bureau, privately-owned housing units authorized by building permits in November 2020 were at a seasonally adjusted annual rate of 1,639,000. This is 6.2% (±1.5 percent) above the revised October rate of 1,544,000 and is 8.5% (±1.8 percent) above the November 2019 rate of 1,510,000. Moreover, rapid construction in the commercial segment, particularly the hospitality sector, is also driving the demand for kitchen range hoods. The hotel industry is a key supporting factor to the region’s hospitality sector, driving the construction of more hotels. The booming tourism and real estate industries, accompanied by various infrastructural developments in the hospitality sector, will continue to spur the market for kitchen ventilation over the forecast period.

Under-cabinet product held over 42.7% of the Americas range hood revenue in 2020. These are the most common range hoods as the design of an under-cabinet venting system is simple and versatile to fit any kitchen style or design. The current trend of open shelves in a kitchen, as opposed to upper cabinets, is drawing more attention toward the installation of such range hoods. New trends and innovation in range hoods have created immense opportunities in the market concerning product installation and design. For instance, AKDY, a manufacturer of high-end kitchen and bath appliances, introduced the Under Cabinet Range Hood Collection containing detailed 3D drawings that can be used in kitchen remodeling projects.

The key companies of the industry include Whirlpool Corporation, Broan-NuTone, LLC, GE Appliances, a Haier company, Robert Bosch GmbH, Haube Range Hood Co., KOBE Range Hoods, Victory Range Hoods, Proline Range Hoods, Faber US and Canada, and Vent-A-Hood® Ltd.

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Americas Range Hood Market Report Highlights

• Canada is expected to register the fastest CAGR of 4.5% from 2021 to 2028. Steady growth in the number of foodservice joints and residential construction projects are the main factors driving the demand for range hoods
• Kitchen stops distribution channel dominated the market by contributing over 57.7% in the revenue in 2020
• The residential end-user segment held the largest market share in 2020, contributed more than 85.7% of the total revenue owing to its higher penetration across households

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Americas Range Hood Market Segmentation

Grand View Research has segmented the Americas range hood market based on product, end-user, distribution channel, and region:

Americas Range Hood Product Outlook (Revenue, USD Million, 2016 - 2028)

• Under Cabinet
• Wall Mounted
• Ceiling Mount

Americas Range Hood End-user Outlook (Revenue, USD Million, 2016 - 2028)

• Residential
• Commercial

Americas Range Hood Distribution Channel Outlook (Revenue, USD Million, 2016 - 2028)

• Online
• Kitchen Stops
• Supermarkets & Hypermarkets
• Specialty Stores
• Local Kitchenware Shops

Americas Range Hood Regional Outlook (Revenue, USD Million, 2016 - 2028)

• US.
  • Northeast
  • Southeast
  • Southwest
  • Midwest
  • West
• Canada
  • Toronto
  • Montreal
  • Calgary
  • Ottawa
• South America
  • Brazil

List of Key Players of Americas Range Hood Market

• Whirlpool Corporation
• Broan-NuTone, LLC
• GE Appliances, a Haier Company
• Robert Bosch GmbH
• Haube Range Hood Co.
• KOBE Range Hoods
• Victory Range Hoods
• Proline Range Hoods
• Faber US and Canada
• Vent-A-Hood® Ltd.

About Grand View Research

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

Modular Chillers Market Major Key Players And Latest Trend Analysis Till 2028: Grand View Research Inc.

 Modular Chillers Market Growth & Trends

The global modular chillers market size is expected to reach USD 4.02 billion by 2028 registering a CAGR of 6.7%, according to a new report by Grand View Research, Inc. The growing demand for energy-efficient buildings on account of the rising awareness regarding environmental degradation coupled with stringent government regulations is anticipated to fuel the product demand over the forecast period.

Increasing construction spending in emerging countries, such as China, India, and Brazil, on account of strong economic and industrial development coupled with population expansion, is anticipated to drive the product demand over the forecast period. In addition, rising awareness about energy-efficient systems and the harmful impacts of burning fossil fuels is expected to further boost the market growth over the coming years.

Several initiatives promoting and encouraging energy-efficiency have been adopted and implemented in Europe. For instance, the European Commission’s initiative “The European Portal for Energy Efficiency of Buildings” allows exploration and sharing of knowledge and optimal practices offering energy solutions for buildings.

According to the International Trade Administration (ITA), the construction industry in Canada was valued at USD 126.3 billion in 2018 and accounted for over 7% of the country’s GDP. The presence of stringent government regulations in Toronto and Vancouver for cooling the overheated markets in the residential sector is expected to drive the product demand over the coming years.

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Modular Chillers Market Report Highlights

• In terms of revenue, the demand for water-cooled chillers is expected to witness growth at a CAGR of 6.1% from 2021 to 2028
• This growth is attributed to pressure operating features and lower condensing temperature offered by water-cooled systems compared to air-cooled systems
• The commercial sector is estimated to be valued at USD 2.02 billion by 2028 on account of the rising product demand from the healthcare industry
• China accounted for a revenue share of 60.1% of the Asia Pacific market in 2020 and is anticipated to witness steady growth owing to the rising population, urbanization, and government initiatives to enhance the country’s infrastructure
• The growing demand for housing projects owing to the rising population in urban areas is expected to drive the construction industry in Brazil, thereby, augmenting the product demand in the country

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Modular Chillers Market Segmentation

Grand View Research has segmented the global modular chillers market on the basis of product, end-use, and region:

Modular Chillers Product Outlook (Revenue, USD Million, 2017 - 2028)

• Water-Cooled
  • <50kW
  • 51-100kW
  • 101-200kW
  • 201-300kW
  • >301kW
• Air-Cooled
  • <50kW
  • 51-100kW
  • 101-200kW
  • 201-300kW
  • >301kW

Modular Chillers End-use Outlook (Revenue, USD Million, 2017 - 2028)

• Commercial
  • Corporate Offices
  • Data Centers
  • Public Buildings
  • Mercantile & Service
  • Healthcare
  • Others
• Residential
• Industrial
  • Chemical
  • Food & Beverage
  • Metal Manufacturing & Machining
  • Medical & Pharmaceutical
  • Plastics
  • Others

Modular Chillers Regional Outlook (Revenue, USD Million, 2017 - 2028)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • Italy
  • Spain
  • UK.
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• Central & South America
  • Argentina
  • Brazil
• Middle East & Africa
  • Saudi Arabia
  • UAE

List of Key Players of Modula Chillers Market

• Trane Technologies plc
• Gree Electric Appliances, Inc.
• Carrier
• Frigel
• Midea Group
• Multistack International Ltd.
• McQuay Air-Conditioning Ltd. (Daikin)
• Johnson Controls-Hitachi Air Conditioning
• Haier Group
• Mitsubishi Electric Corp.

About Grand View Research

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

Electric Vehicle Charging Infrastructure Market to Reflect Steadfast Expansion During 2021-2028

 Electric Vehicle Charging Infrastructure Market Growth & Trends

The global electric vehicle charging infrastructure market size is expected to reach USD 144.97 billion by 2028 registering a CAGR of 33.4% from 2021 to 2028, according to a new study conducted by Grand View Research, Inc. The significant market growth is primarily due to the rising number of initiatives undertaken by both public as well as private sectors to encourage the population to switch to EVs. As a result, the demand for EV charging infrastructure is expected to grow significantly. For instance, in the U.S., the Washington State Department of Transportation has partnered with the Oregon Department of Transportation to construct the West Coast Electric Highway (WCEH) that consists of 57 EV charging stations across Oregon and Washington. Similarly, many other governments are jointly developing intra-continental networks of highway charging stations.

Various EV manufacturers, such as Volvo, Kia Motors, Mercedes-Benz, and Ford, are collaborating with the charging infrastructure providers for easy availability of charging stations. For instance, In November 2020, ChargePoint, Inc. announced its partnership with Volvo Car USA LLC to provide a seamless charging experience to the Volvo car drivers. ChargePoint, Inc. will offer Home Flex home chargers, which will enable drivers to charge their cars at home. Moreover, Delta Electronics, Inc.; Enel X; and Ecotap BV are focusing on the development of solar-powered EV charging stations. For instance, under the Honda SmartCharge program, Enel X is currently working on the development of a solar-powered charging station in Hawaii (U.S.) in partnership with the Hawaiian Electric Company, Inc. Furthermore, various companies are working towards upgrading Electric Vehicle Supply Equipment (EVSE) to make them more convenient for long-distance travel. Some of the EV manufacturers, such as Tesla, Inc., and Nissan, are focusing on providing compatibility for their electric vehicles for public charging networks. For instance, Nissan in November 2019, announced that buyers of new Nissan LEAF would be able to charge their vehicles across EVgo’s charging network that comprises 750 public charging stations.

The demand for EVs has been growing in line with the rising awareness about environmental sustainability and the stringent limits several governments are putting on vehicular emissions. While private companies are focusing on developing innovative EV chargers and charging stations, governments are collaborating with these companies for rolling out EV Charging Infrastructure. In addition, technologies, such as Radio Frequency Identification (RFID) and Near-Field Communication (NFC), have enabled the installation of interactive, kiosk-based, and self-operated charging stations within highway charging stations. Several private organizations are keen on investing in the development of EV charging stations along the highways. All these factors are driving the demand for highway charging stations

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Electric Vehicle Charging Infrastructure Market Report Highlights

• The fast charger segment is anticipated to be the largest charger type segment over the forecast period owing to the ability to rapidly charge electric vehicles in lesser time compared to conventional AC chargers is the primary factor driving the demand for fast DC chargers
• Combined Charging System (CCS) is anticipated to emerge as the fastest-growing connecter segment over the forecast period owing to rising adoption by automobile manufacturers
• The commercial application segment is anticipated to gain traction owing to the rise in the deployment of fast-charging stations across highways, hotels, shopping malls, and public parking facilities
• North America is estimated to account for the largest revenue share by 2028. Stringent vehicle emission standards and focus on R&D of EVs are some of the major factors driving the market in the North American region
• Various companies are investing heavily in promoting EV charging infrastructure. For instance, in November 2017, BMW, Daimler, Ford, and Volkswagen Group, together announced an investment plan for the development of 400 charging sites across Europe
• Asia Pacific is expected to register the fastest CAGR from 2021 to 2028 due to significant growth in EV sales in the region and extensive deployment of EV chargers in countries, such as China and Japan 

Access Press Release@ https://www.grandviewresearch.com/press-release/global-electric-vehicle-ev-charging-infrastructure-market

Electric Vehicle Charging Infrastructure Market Segmentation

Grand View Research has segmented the global electric vehicle charging infrastructure market on the basis of charger type, connector, application, and region:

EV Charging Infrastructure Charger Type Outlook (Volume, Units; Revenue, USD Million, 2016 - 2028)

• Slow
• Fast

EV Charging Infrastructure Connector Outlook (Volume, Units; Revenue, USD Million, 2016 - 2028)

• CHAdeMO
• (CCS)
• Others

EV Charging Infrastructure Application Outlook (Volume, Units; Revenue, USD Million, 2016 - 2028)

• Commercial
• Residential

EV Charging Infrastructure Regional Outlook (Volume, Units; Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • The Netherlands
  • UK.
  • France
  • Norway
  • Germany
• Asia Pacific
  • China
  • Japan
  • South Korea

List of Key Players of Electric Vehicle Charging Infrastructure Market

• AeroVironment, Inc.
• ABB
• BP Chargemaster
• ChargePoint, Inc.
• ClipperCreek, Inc.
• Eaton Corp.
• General Electric Company
• Leviton Manufacturing Co., Inc.
• SemaConnect, Inc.
• Schneider Electric
• Siemens AG
• Tesla, Inc.
• Webasto SE

About Grand View Research

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

Nicotine Replacement Therapy Market Poised to Expand at a Robust Pace Over 2028

 Nicotine Replacement Therapy Market Growth & Trends

The global nicotine replacement therapy market size is expected to reach USD 147.9 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 16.3% from 2021 to 2028. The growth of the market is largely attributed to increasing government initiatives to promote nicotine replacement therapy (NRT) products for reducing mortality due to smoking and diseases associated with it.

Smoking cessation campaigns are also playing a crucial role in increasing awareness about diseases that are caused because of smoking. These campaigns are run by regional governments as well as multinational companies, such as Philip Morris International and Altria. Global organizations like the WHO are also working toward creating awareness by running online campaigns. 

There has been an exponential increase in the usage of NRT products. The young population is the largest consumer of advanced NRT products, like heat-not-burn tobacco and e-cigarettes. However, middle-aged patients’ interest in smoking cessation has led to a rise in the usage of e-cigarettes. For instance, the use of e-cigarettes for smoking cessation increased to 20% in 2018 from 13% in 2016 among people aged 45 to 54 years.

Furthermore, researchers found that 5% to 9% of smokers tend to use nicotine patches even after the therapeutic period of 12 weeks. The passive approach of combining nicotine patches with a gum, inhaler, or spray is found to be more effective, and quitting rate reaching 34% to 54%. NRT is only recognized as a way of curbing nicotine cravings and treatment by consumers.

With technological advancements, the players in this market are also developing products to suit the changing consumer preferences. For instance, the e-cigarette market is changing with newer innovations that are more efficient, have longer battery life, and are rechargeable. The existing innovations like sleek and easy-to-use socially acceptable e-cigarettes brought a revolution, which drove more people to shift to using NRTs without social stigma.

Various players such as Nicocigs Ltd.; Nicoventures Ltd.; Victory Electronic Cigarettes Corp.; DuraSmoke; AlternaCig; Shenzhen IVPS Technology CO. Limited; and Vapor Group, Inc. are launching e-cigarettes and related products. Although there are hundreds of companies selling e-cigarettes, their usage in NRT is disputed.

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Nicotine Replacement Therapy Market Report Highlights

• By product, the e-cigarettes segment held the largest NRT market share in 2020 due to increasing investments and the rising focus of companies on developing value-added products. The heat-not-burn tobacco products segment is expected to grow at the fastest rate over the forecast period
• The offline distribution channel segment dominated the market in 2020. Retail chains across the world are investing in advanced technologies and undertaking new initiatives in order to improve sales and attract more customers. The increasing sales of e-cigarettes through vape shops and retail stores is another factor augmenting the growth of this segment
• Asia Pacific held the largest market share in 2020. Favorable government initiatives, coupled with an evolving reimbursement landscape for pharmaceutical products, are supporting continual growth

Access Press Release@ https://www.grandviewresearch.com/press-release/global-nicotine-replacement-therapy-market

Nicotine Replacement Therapy Market Segmentation

Grand View Research has segmented the global nicotine replacement therapy market by product, distribution channel, and region:

NRT Product Outlook (Revenue, USD Billion, 2017 - 2028)

• Nicotine Replacement Therapy
  • Inhalers
  • Gum
  • Transdermal Patches
  • Sublingual Tablets
  • Lozenges
  • Others
• E-cigarettes
• Heat-not-burn Tobacco Products

NRT Distribution Channel Outlook (Revenue, USD Billion, 2017 - 2028)

• Offline
• Online

NRT Regional Outlook (Revenue, USD Billion, 2017 – 2028)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • Japan
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
• MEA
  • South Africa
  • Saudi Arabia
  • UAE

List of Key Players of Nicotine Replacement Therapy Market

• Philip Morris Products S.A. (Altria Group)
• British American Tobacco p.l.c.
• Japan Tobacco, Inc.
• Imperial Brands
• Glenmark
• Fertin Pharma
• Cipla Inc.
• Pfizer Inc.
• Johnson & Johnson Services, Inc.

About Grand View Research

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

Product Design & Development Services Market Predicted to Cross USD 18.6 Billion by 2028: Grand View Research Inc.

 Product Design And Development Services Market Growth & Trends

The global product design and development services market size is expected to reach USD 18.6 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 11.6% from 2021 to 2028. Low product cost, short time-to-market, and demand for advanced technologies are some of the factors boosting the growth. Medical and life sciences companies face extreme cost pressures to develop new and innovative products in shorter time frames while complying with stringent regulatory requirements of medical device.

The manufacturers face more hurdles in getting cost-effective high-quality products to market faster along with some internal factors, such as designing and production. Hence, medical device companies adopt a design-to-manufacturing approach where design, engineering, as well as production teams work in collaboration to develop the product model. This approach enhances both product quality and profitability by decreasing errors in development and designing thereby increasing success rates.

Outsourcing design engineering is anticipated to witness healthy growth over the forecast period as an increased number of manufacturers—from start-up ventures to established companies—capitalize on the benefits related to outsourcing design engineering such as improved product design and cost-effectiveness to attain a competitive edge. Furthermore, with the incorporation of IT into healthcare industry, analysis on 3D models and software, for which the third parties are well trained are expected to promote growth.

However, COVID-19 has added complexity and challenge to the medical device innovation. The product development firms are facing the major challenges so far as how to continue with business operations while evading the effects of the crisis. Product development during the pandemic continues to show optimal scope. The huge cost of development, financial risks of missing the mark, and market timing altogether contribute to the greatest challenges of medical device development and market driving innovation.

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Product Design & Development Services Market Report Highlights

• The research, strategy, and concept generation services segment accounted for the highest revenue share of 39.9% in 2020 as the stage requires extensive research and business and design strategy that generate maximum revenue
• The surgical instruments segment held major market share of 27.9% in 2020, due to the complexity of instruments which require detailed designing for making them suitable for direct contact with human body
• Key players in emerging economies of Asia Pacific and Latin America are witnessing significant increase in their revenue owing to the presence of lucrative growth opportunities
• Medical device Original Equipment Manufacturers (OEMs) are outsourcing the production of their devices to developing economies due to availability of labor and raw materials at affordable cost

Access Press Release@ https://www.grandviewresearch.com/press-release/global-product-design-development-services-market

Product Design & Development Services Market Segmentation

Grand View Research has segmented the global product design and development services market based on services, application, end use, and region:

Product Design And Development Services Outlook (Revenue, USD Million, 2016 - 2028)

• Research, Strategy, & Concept Generation
• Concept & Requirements Development
• Detailed Design & Process Development
• Design Verification
• Process Validation, Manufacturing Transfer & Design Validation
• Production & Commercial Support

Product Design And Development Services Application Outlook (Revenue, USD Million, 2016 - 2028)

• Diagnostic Equipment
• Therapeutic Equipment
• Surgical Instruments
• Clinical Laboratory Equipment
• Biological Storage
• Consumables
• Others

Product Design And Development Services End-use Outlook (Revenue, USD Million, 2016 - 2028)

• Medical Device Companies
• Pharmaceutical Companies
• Biotechnology Companies
• Contract Research Organizations

Product Design And Development Services Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Ukraine
  • Netherlands
  • Switzerland
  • Sweden
• Asia Pacific
  • India
  • Japan
  • China
  • Australia
  • South KoreaIndonesia
  • Malaysia
  • Singapore
  • Thailand
  • Taiwan
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Egypt

List of Key Players of Product Design And Development Services Market

• Ximedica
• DeviceLab Inc.
• Jabil Inc.
• Flex Ltd.
• Plexus Corp.
• Celestica Inc.
• Starfish Medical
• Nordson Medical
• Planet Innovation
• Donatelle

About Grand View Research

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

Image-guided Therapy Systems Market to Partake Significant Development During 2021 to 2028: Grand View Research Inc.

 Image-guided Therapy Systems Market Growth & Trends

The global image-guided therapy systems market size is expected to reach USD 5.8 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.0% from 2021 to 2028. The growing geriatric population base and increasing cases of chronic diseases are expected to boost the market growth. Other factors propelling the market growth include a rising preference for minimally invasive surgeries and technological advancements in image-guided therapy systems. Various initiatives undertaken in the area of cancer radiotherapy are also driving the market.

New product launches by major companies are also having a positive impact on market growth. For instance, in September 2020, Olympus Corporation launched ENDO-AID, an AI platform and endoscopy application with computer-aided detection for gastrointestinal applications. The AI platform with an endoscopy system-EVIS X1 enables real-time display. The growing adoption of such advanced systems is expected to drive the market. The increasing number of initiatives undertaken by public and private firms in the area of cancer radiotherapy is also estimated to have a positive impact on market growth.

Many academic institutions are also investing in cancer radiotherapy projects for increasing the effectiveness of treatment therapies. This is also likely to contribute to market expansion. The development of the Image-guided Therapy Program by the Brigham and Women’s Hospital aimed at advancing imaging and therapeutic technologies for developing minimally invasive surgical and interventional techniques is an example of one such initiative.

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Image-guided Therapy Systems Market Report Highlights

• North America accounted for the largest share in 2020 owing to the rising geriatric population and high per capita expenditure
• By product, the endoscopes segment accounted for the largest revenue share in 2020 owing to technological advancements, a high volume of endoscope-guided surgeries, and the rising preference for minimally invasive surgeries
• By application, cardiac surgery emerged as the largest application segment in 2020 owing to factors, such as rising incidence of target diseases, increasing preference for minimally invasive cardiac surgeries, and R&D initiatives aimed at developing real-time cardiac intervention systems
• By end use, the hospitals segment accounted for the largest market share in 2020 as the hospital settings are equipped with technologically advanced devices
• The ambulatory surgery centers segment is projected to expand at the fastest CAGR of 6.5% over the forecast period

Access Press Release@ https://www.grandviewresearch.com/press-release/global-image-guided-therapy-systems-market

Image-guided Therapy Systems Market Segmentation

Grand View Research has segmented the global image-guided therapy systems market based on product, application, end-use, and region:

Image-guided Therapy Systems Product Outlook (Revenue, USD Million, 2016 - 2028)

• Ultrasound Systems
• Computed Tomography (CT) Scanners
• Positron Emission Tomography (PET)
• Endoscopes
• Magnetic Resonance Imaging (MRI)
• X-ray Fluoroscopy
• Single Photon Emission Computed Tomography (SPECT)

Image-guided Therapy Systems Application Outlook (Revenue, USD Million, 2016 - 2028)

• Cardiac Surgery
• Neurosurgery
• Orthopedic Surgery
• Urology
• Oncology Surgery
• Gastroenterology
• Others

Image-guided Therapy Systems End-use Outlook (Revenue, USD Million, 2016 - 2028)

• Hospitals
• Specialty Clinics
• Ambulatory Surgical Centers
• Research & Academic Institutions

Image-guided Therapy Systems Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Spain
  • Sweden
  • Netherlands
• Asia Pacific
  • Japan
  • China
  • India
  • South Korea
  • Australia
  • Singapore
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE

List of Key Players of Image-guided Therapy Systems Market

• Koninklijke Philips N.V.
• Medtronic
• Siemens Healthineers
• Analogic Corporation
• GE Healthcare
• Varian Medical Systems, Inc.
• Brainlab AG
• Olympus Corporation
• Stryker

About Grand View Research

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