External Gear Pump Market Growth: Industry Rising to US$ 370 million by 2034

External gear pumps are workhorses in various industries, known for their simple design, reliability, and efficient fluid transfer. This translates to a thriving market for these pumps. Let’s delve into the current scenario, exciting opportunities for manufacturers, and the promising future of the external gear pump market.

Current Scenario: 

  • Versatility Across Industries: External gear pumps can handle various viscosities and are suitable for numerous applications, making them a popular choice across industries like construction, oil & gas, chemical processing, and food & beverage.
  • Focus on Reliability and Low Maintenance: Their simple design offers high reliability and requires minimal maintenance, making them cost-effective solutions in the long run.
  • Demand for High-Pressure Applications: Certain models can handle high operating pressures, catering to specific needs in industries like hydraulic fracturing and power generation.
  • Growing Automation: Increased automation in manufacturing processes necessitates reliable pumps for smooth operation, further propelling the market.

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Opportunities for Manufacturers: 

This market presents a wealth of opportunities for manufacturers to solidify their position:

  • Material Innovation: Develop pumps with advanced materials that offer improved wear resistance, corrosion protection, and compatibility with a wider range of fluids.
  • Focus on Efficiency: Invest in R&D to create pumps with improved efficiency for lower energy consumption, aligning with growing sustainability concerns.
  • Specialization for Diverse Applications: Develop specialized pumps for specific industries, catering to unique needs regarding pressure, flow rate, and fluid compatibility.
  • Smart Integration: Explore integrating sensors and IoT technology for real-time monitoring, predictive maintenance, and data-driven optimization of pump performance.
  • After-Sales Services: Provide comprehensive after-sales support, including readily available spare parts, maintenance packages, and operator training to build customer loyalty.

Future Scope: 

The external gear pump market is poised for exciting advancements in the coming years:

  • Sustainability Focus: Manufacturers will increasingly focus on eco-friendly materials, energy-efficient designs, and potentially even bio-based lubricants for these pumps.
  • The Rise of Smart Pumps: Integration of sensors and communication capabilities will enable real-time monitoring, remote diagnostics, and predictive maintenance for improved efficiency and reduced downtime.
  • Standardization and Regulations: Evolving safety regulations and potential standardization efforts might influence pump designs and materials used.

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Plant-Based Protein Market Flourishes, Predicted to Hit US$ 42.55 Billion by 2034

The global plant-based protein market size is estimated to be worth US$ 18.64 billion in 2024. The market valuation is projected to surpass US$ 42.55 billion by 2034, registering a healthy CAGR of 8.6% during the forecast period.

As productivity in the food and beverage industries rises, the market for plant-based proteins will expand considerably. The global market for plant-based proteins is divided into soy, wheat, pea, potato, rice, canola, corn, and other product categories based on the kind of protein present. Soy protein is expected to lead the plant-based protein industry.

According to the report, the rising prevalence of health conditions like as diabetes, high blood pressure, and obesity is encouraging people to adopt better lifestyles. As a result, there is an increased need for plant-based protein nutritional supplements and meals.

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Demand for Preventative Healthcare, Especially Due to the Recent Outbreak of Deadly Viruses to boost growth

The majority of people are worried about their health and recognise the importance of preventive treatment. Numerous journals, websites, and online forums, including Livestrong.com, bodybuilding.com, Men’s Health, and Shape, publish frequent updates on nutrition and lifestyle subjects. Similarly, companies that produce plant protein-containing goods advertise their products using a variety of media, including as websites, periodicals, and marketing campaigns, in an effort to build customer demand for these products.

These strategies of players primarily focus on new product development and enhanced safety, effectiveness and primarily health benefits such as the ability to lower cholesterol, lower body weight, and lower blood pressure levels. This is expected to aid in market growth in the region.

Also consumers have become increasingly conscious about the food they eat. Rumors linking coronavirus with consumption of meat and meat protein are likely to influence their perception regarding food they eat. As a result of this, the demand for plant-based protein is likely to surge in the coming years.

Who is winning?

Some of the major players in the plant-based protein that are covered in this report are Glanbia Plc, Archer-Daniels Midland Co., Roquette Freres, Cargill Incorporation, Burcon Nutrascience Corporat, E.I. du Pont de Nemours & Co,  Cosucra Groupe Warcoing, Ingredion Inc, and CHS Inc, AGT Food & Ingredients, Inc.

These market players have a strong networked and secure clientele with main focus on increasing its product offering and portfolio with complete solutions to its customers including production, formulation of blend, packaging and transportation as well.

In addition to this, market players are more into mergers and acquisition to improve their product offering. Companies intend to expand their regional footprint through strategic collaborations.

  • In February 2017, Glambia Plc acquired two companies — Body & Fit and Grass Advantage LLC protein ingredient manufacturers in the U.S. and Netherlands respectively. Both the company have a strong tactical fit with Glanbia’s Performance Nutrition (GPN) division and will prolong its reach to wider channels and new consumers.
  •  In August 2017, Archer Daniels Midland Company expanded its line of plant-based functional extracts by including an antioxidant blend, green tea, and acerola for application in a wide variety of food, drinks, and supplement applications
  • In March 2017, Cargill started production of pea protein ingredients through partnership with World Food Processing, which is a multi-generation, family-owned business based in Oskaloosa, U.S., that has developed non-bioengineered/non-GMO pea seed varieties to minimize off-flavors

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PLANT-BASED PROTEIN MARKET SEGMENTATION

The global Plant-based protein Market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.

Product Type:

  • Soy Protein
  • Wheat Protein
  • Pea Protein
  • Others

Form:

  • Isolates
  • Concentrates
  • Hydrolysates

Nature:

  • Organic
  • Conventional

Application:

  • Nutritional Products
    • Sports Nutrition
    • Medical Nutrition
    • Infant Nutrition
  • Bakery
  • Snacks & Cereals
  • Dairy
  • Confectionary and Dessert
  • Convenience Food
  • Beverages
  • Animal Feed
  • Others

Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA

Frequently Asked Questions

  • How much is the plant-based protein market currently worth?
  • At what CAGR is the market expected to grow?
  • How was the performance in the last five years?
  • What are the key trends boosting Plant-based protein sales?
  • How are market players reacting to the new developments in the market?
  • Which is the largest segment by type?
  • Which are the major countries driving demand for plant-based protein?
  • Who are the major players in the Plant-based Protein Market?
  • At what level does the report reflect pricing analysis?

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Aircraft Ground Support Equipment Market in Western Europe Projected to Reach US$ 3,569.83 million by 2034

The Aircraft Ground Support Equipment Market in Western Europe is poised for steady growth, with a projected compound annual growth rate (CAGR) of 5.5% anticipated through 2034. Starting with a valuation of US$ 2,088.87 million in 2024, the industry in Western Europe is positioned to capitalize on significant opportunities.

The advent of urban air mobility and electric vertical takeoff and landing vehicles is set to drive fresh demand for airport ground support equipment in Western Europe. These innovative modes of transportation will necessitate specially tailored equipment to support their operations effectively.

By 2034, the adoption of aircraft ground support equipment in Western Europe is forecasted to reach US$ 3,569.83 million, underscoring the sector’s sustained growth trajectory and the evolving landscape of aviation infrastructure in the region.

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Growth Factors

The aviation industry’s shift towards electrification is poised to drive significant reductions in carbon emissions and operational costs, with a particular emphasis on the adoption of electric-powered ground support equipment.

The advancement and uptake of autonomous or semi-autonomous ground support equipment, encompassing baggage handling systems and tugs, present promising avenues for enhancing operational efficiency while diminishing reliance on manual labor.

A surge in demand for customizable and modular airport ground support equipment solutions is anticipated, offering manufacturers ample opportunities to cater to diverse aircraft types and operational needs. These adaptable solutions promise heightened flexibility and efficiency in airport operations.

The incorporation of radio frequency identification (RFID) and Internet of Things (IoT) technologies into ground support equipment holds immense potential for enhancing asset tracking, streamlining maintenance management, and bolstering overall operational visibility within airport environments.

Key Companies 

  • Vanderlande Industries
  • Goldhofer
  • TLD Group
  • Precia Group
  • Ground Handling International
  • Cushman & Sons
  • Mechtronic
  • Abeking & Rasmussen
  • Rotzler Group
  • Terberg Special Vehicles
  • ITA Aeromodeli
  • Aviaxom
  • Aviation Ground Services
  • Menzies Aviation
  • Swissport International

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Segmentation

By Equipment:

  • Passenger Service
  • Boarding Steps and Stairs
  • Airport Buses and Transport
  • Beds/Chairs Lifts
  • Airport Service
  • Refuelers
  • Tugs and Tractors
  • Ground Power Unit
  • Air Start Units
  • Lavatory Service Vehicles
  • De Icing Vehicles
  • Rescue and Firefighting
  • Air Conditioners
  • Others
  • Cargo Loading
  • Container Loaders
  • Belt Loaders
  • Cargo Transporters
  • Cargo Dollies

By Power:

  • Electric
  • Non Electric
  • Hybrid

By Ownership:

  • New Sales
  • Rental/Lease

By Application:

  • Commercial
  • Defense

By Country:

  • United Kingdom
  • Germany
  • France
  • Netherlands
  • Italy

Microbial Lipase Market Forecasted to Surge to Nearly US$ 990.2 Million by 2032

In 2022, the microbial lipase market is anticipated to reach US$ 535.0 Million. In terms of value, it is anticipated to increase at a CAGR of 6.8% from 2022 to 2032, reaching US$ 990.2 Million.

Lipases are extremely adaptable microbial enzymes that have piqued the interest of various industrial processes. Lipases can be obtained from a variety of sources, including fungi, bacteria, other microorganisms, animals, and vegetables. Among the lipase sources, microbial lipases had the biggest market share of roughly 62%.

Long-chain triglyceride hydrolysis is catalysed by microbial lipase. Microbial sources of lipase enzymes are conceptually active and proficient, and they also offer a wide range of industrial applications in the production of changed molecules.

The research provides a thorough analysis of the industry, outlining key growth drivers, restraints, opportunities, and current trends. It employs novel research methods to provide the most accurate market analysis.

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It includes in-depth insights into the microbial lipase market. Some of these are:

  • The estimated value of the market was at US$ 510 Bn in 2019. Through the course of the report’s forecast period, the market is exhibited to show a steady pace of growth.
  • Microbial lipase industry is dominated Asia Pacific.
  • The emergence of leading global microbial lipase producers and the increase in the adoption of lipase enzymes are increasing demand for microbial lipases in the Asia Pacific area.
  • It is estimated that the powder type of microbial lipases dominates the market for microbial lipase, as consumers prefer.
  • Due to their numerous applications in a wide range of food processes, the demand for lipase, especially from microbial sources, is expected to show significant growth in the near future.
  • In terms of form, the liquid segment emerged dominant and is likely to continue leading the market through the course of the forecast period.

COVID-19 Outbreak will Impact Growth of the Market

The lockdown due to corona outbreak might severely impact the supply side of the microbial lipase market. It may also affect the production and distribution of their goods and services. After the lockdown is lifted, there is a quite possibility that there will be an increase in sales which will be met through existing inventories of the companies in the microbial market.

Growing population along with increasing economic standards has led to increased spending on food services. Like the aforementioned forecasts, however, the market could head to harsh waters.

Who is Winning?

The key players operating in the global microbial lipase market are DowDuPont (US), Amano Enzymes (Japan), Novozymes (Denmark), Associated British Foods (UK), and Chr. Hansen (Denmark). There are some new developments in the industry that will generate specific opportunities for the microbial lipase manufacturers.

Furthermore, mergers and acquisitions continue to be a common strategy among market players. With strategic alliances companies plan to increase their global footprint.

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MICROBIAL LIPASE MARKET TAXONOMY

The global Microbial Lipase market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.

By Source :

  • Fungi
  • Bacteria
  • Yeast

By Form :

  • Liquid
  • Powder

By Application :

  • Cleaning Agents
  • Animal Feed
  • Dairy Products
  • Bakery Products
  • Confectionery Products
  • Others

By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

 Contact Us:

Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
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Polyol Sweetener Market Positioned for Significant Growth, Expected to Surpass US$ 8,213.4 Million by 2034

The global polyol sweetener market is predicted to develop from US$ 4,100 million in 2023 to US$ 4,317.3 million in 2024, showing potential market growth. With a CAGR of 7.19%, the market is predicted to reach a projected value of US$ 8,213.4 million by 2034. The worldwide market for polyol sweetener is projected to remain competitive.

Polyols are used as sweeteners in a range of sugar-free foods, which is a major growth driver. Polyols are a low-calorie sweetener which is increasingly being used in baked goods, jellies, and ice – cream. Polyols are getting more popular, resulting in greater market growth.

Sugar Alcohols Chugs the Global Polyol Industry

  • The global polyol sweetener market is anticipated to be driven by rising consumer awareness of general health and well-being and rising demand for sugar replacements in the food and beverage industry.
  • Polyol sweetener, which come from saccharide derivatives derived from bio-wastes like birch bark, maize cobs, and pulp and paper waste, are produced by fermentation or hydro-generation carbohydrates.
  • The essence, or sugar alcohol, is a beneficial ‘natural’ element in various applications, including food, pharmaceutical, cosmetics, and other technical and chemical sectors.

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In Asia – pacific region, Polyol is predicted to be a very profitable business. The sector is predicted to grow in response to rising sales in China, India, and Australia.

It is also expected to rise at a higher rate than in other nations. The growth in buying power, as well as increased uses including dental health and medications, as well as an increase in physical concerns caused by sugar-based foods, would help Asia Pacific expand its market.

The growing prevalence of health awareness in North America will assist the industry. The use of polyol sweeteners within food sector will expand as the incidence of diabetes rises. North America now controls the majority of the worldwide market.

Key Takeaways from Market Study

  • The polyol sweeteners market is expected to expand at CAGRs of 5.5% and 7.4% in America and Europe, respectively, through 2034.
  • The market for polyol sweeteners in Asia Pacific increased by 7.6% year after year.
  • Polyol sweetener sales are increasing globally due to rising customer demand for nutrient dense foods.
  • The high production costs of polyol sweeteners are projected to limit industry expansion. However, tight restrictions and international quality criteria for polyol sweeteners, including the risk of adverse effects from excess use, are likely to impede market expansion throughout the forecast timeframe of 2024-2034.
  • A major demand-supply mismatch has emerged from a scarcity of raw materials from diverse polyol sweetener producers throughout the world. Producers are also likely to be stuck on raw material orders as a result of the supply chain being severely disrupted by the COVID-19 closure.

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Competitive Landscape

Polyol sweetener makers are putting a lot of effort into analysis and resources to enhance overall product and service quality.

  • Ingredion Inc. EMEA: In the year 2020, the business will introduce ERYSTA Erythritol, a novel polyol sweetener that will meet customer demand for low-calorie and zero-added-sugar considered a standard.
  • Cargill Inc: In the year 2018, the firm stated that it had formed a partnership with Procter & Gamble, which would allow it to develop more sustainable goods.
  • Batory Foods: The firm stated in 2019 that it has purchased the holdings of Polypro International Inc, a company that is one of the industry’s major producers of hydrocolloids.

Market Segmentation

By Type:

  • Sorbitol
  • Erythritol
  • Maltitol
  • Mannitol
  • Isomalt
  • Xylitol
  • Others

By Form:

  • Powder
  • Crystal
  • Liquid
  • Syrup

By Application:

  • Bakery
  • Confectionery
  • Beverages
  • Dairy
  • Oral Care
  • Pharmaceuticals
  • Others

By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • The Middle East & Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

 Contact Us:

Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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India Automotive Stamping Market En Route to US$ 18.86 Billion by 2033, CAGR 10.5%

The india automotive stamping market is projected to reach US$ 18.86 Billion by 2033, with a CAGR of 10.5%. This marks a substantial increase from the estimated value of US$ 6.94 billion in 2023.

The expansion of India’s automotive industry directly translates into increased demand for automotive stamping components. As more vehicles are produced, the need for stamped parts such as body panels, chassis components, and engine parts rises, driving the market growth.

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Key Takeaways from the India Automotive Stamping Market Report:

  • In 2023, the global automotive stamping market is anticipated to attain a valuation of US$ 11.01 billion. With a projected CAGR of 5.3% until 2033, the global market is expected to exceed US$ 18.46 billion.
  • In 2022, the automotive stamping industry in India reached a market size of US$ 6.88 billion, demonstrating a CAGR of 10.1%.
  • The passenger car segment held the leading market share of 28.7% in the India automotive stamping industry in 2022. From 2022 to 2023, the automotive industry in India manufactured a total of 4,578,639 passenger cars.
  • The electric vehicle market is growing rapidly in India, creating new opportunities for automotive stamping companies.
  • The steel segment commanded a market share of 54.4% and emerged as the dominant player in the India automotive stamping industry in 2022. High-strength steels are gaining popularity in automotive stamping due to their superior strength, stiffness, and fatigue resistance.
  • The rapid growth of the aftermarket segment in India is generating fresh opportunities for automotive stamping companies to supply replacement parts.
  • The Indian automotive stamping industry is becoming increasingly competitive with the entry of international players. This is driving innovation and market investment, which is likely to create new opportunities for domestic players.

India’s status as a key automobile producer contributes to the automotive stamping market growth. With the production of passenger cars, commercial vehicles, and two-wheelers on the rise, there is a consistent demand for stamped components that are essential for vehicle assembly.

The “Make in India” campaign and the National Electric Mobility Mission Plan 2020 promote domestic manufacturing and attract investments in the automotive sector. These initiatives create a favorable environment for automotive stamping manufacturers, as they encourage local production, leading to increased demand for stamped components.

Lightweighting has become a crucial aspect of vehicle design as it helps improve fuel efficiency and reduce emissions. Automotive stampings made from lightweight materials such as aluminum and advanced high-strength steels enable automakers to achieve weight reduction goals, driving the demand for such components.

The expanding middle-class population in India has increased the demand for passenger vehicles. As more people are able to afford cars, the automotive industry experiences a surge in production, leading to increased demand for automotive stampings.

Infrastructure projects, such as the construction of highways and bridges, stimulate the demand for commercial vehicles. These vehicles require various stamped components like chassis frames and suspension parts. This has fueled the India automotive stamping market expansion.

Indian automotive stamping manufacturers capitalize on export opportunities due to factors such as cost competitiveness, skilled labor, and adherence to quality standards. Expanding into international markets diversifies their customer base and drives market growth.

The Indian government’s emphasis on electric vehicle adoption creates new opportunities for automotive stamping manufacturers. EVs require specific components, such as battery enclosures and structural components, which drive the demand for specialized stamped parts.

Global automakers establishing manufacturing facilities in India promote the localization of the automotive supply chain. This shift creates partnerships with local automotive stamping manufacturers, boosting their market share and driving the overall growth of the industry.

Stricter safety regulations and emission norms in India necessitate the use of high-quality stamped components to ensure vehicle safety and compliance. This drives the demand for automotive stamping components that meet the required safety standards and regulatory requirements.

The abundant pool of skilled labor, including engineers and technicians, supports the growth of the India automotive stamping market. The availability of a skilled workforce enables efficient production, innovation, and adaptation to changing industry needs, driving the overall market.

Competitive Landscape in the India Automotive Stamping Market:
Key players are actively engaged in various activities to maintain a strong market presence. They focus on advanced technology integration, product innovation, strategic collaborations, and expanding their production capacities. These players also invest in research and development to enhance manufacturing processes, improve product quality, and cater to evolving customer demands. Additionally, they emphasize sustainability practices and adopt eco-friendly initiatives to align with environmental regulations and meet customer expectations.

Leading Key Players:

  • Automotive Stampings and Assemblies Ltd
  • JBM Group
  • Klt Automotive and Tubular Products Limited
  • Autocomp Corporation Panse Pvt. Ltd
  • Omax Auto Ltd
  • Mahindra CIE Automotive Limited
  • Sona Koyo Steering Systems Limited
  • Harsha Engineers Limited
  • Tata Autocomp Systems Limited
  • Cosma International (India) Private Limited
  • Yeshshree Press Comps Private Limited
  • Gestamp Automobile India Private Limited

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India Automotive Stamping Market Segmentation:

By Stamping:

  • Hot Stamping
  • Cold Stamping

By Vehicle:

  • Two-Wheeler
  • Three-Wheeler
  • Passenger Car
  • Commercial Vehicle

By Material:

  • Steel
  • Aluminum
  • Others

By Process:

  • Progressive Die Stamping
  • Tandem Stamping
  • Transfer Stamping

By Product:

  • Body Stamping
    • BIW Parts
    • Chassis
  • Non-Body Stamping
    • Engine Parts
    • Transmission and Steering Parts
    • Braking and Suspension Parts
    • Electrical Parts
    • Fuel Delivery, Emission and Filtration
    • Safety Equipment and Seating System
    • Lighting Components
    • Cooling System

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:   

Nandini Singh Sawlani   

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Aircraft Ground Support Equipment Market Analysis in Korea worth US$ 208.6 million by 2034

Korea’s aviation industry is experiencing significant growth, fueled by factors like increasing passenger traffic and expanding cargo operations. This rise in air travel necessitates a robust ground support equipment (GSE) market to ensure efficient and safe aircraft servicing.

Current Scenario: Soaring High

The aircraft ground support equipment (GSE) market in Korea is experiencing steady growth, driven by several key factors:

  • Expanding Fleet Size: Major Korean airlines are constantly adding new aircraft to their fleets, requiring additional GSE to service them.
  • Focus on Airport Infrastructure Development: Investments in airport infrastructure upgrades and expansion projects are driving demand for modern GSE solutions.
  • Increased Focus on Efficiency and Safety: Airlines are prioritizing faster turnaround times and enhanced safety during ground operations, necessitating efficient and reliable GSE.
  • Shift Towards Automation: Growing interest in automation technologies like electric and driverless GSE is influencing the market landscape.

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Opportunities for Manufacturers: 

This dynamic market presents a wealth of opportunities for domestic and international GSE manufacturers:

  • Focus on Localization: Cater to the specific needs of Korean airlines and airports by developing GSE compatible with their existing infrastructure and regulations.
  • Innovation in Electric GSE: Develop and manufacture eco-friendly electric GSE solutions that reduce emissions and noise pollution at airports.
  • Emphasis on Automation: Invest in R&D for automated GSE solutions such as baggage handling systems, de-icing trucks, and pushback tractors to enhance efficiency and safety.
  • Data-Driven Maintenance: Integrate sensors and IoT technology into GSE for real-time monitoring, predictive maintenance, and data-driven insights for optimizing GSE performance.
  • Focus on After-Sales Services: Provide comprehensive after-sales services like maintenance, spare parts availability, and operator training to build customer loyalty.

Future Scope: 

The market is poised for an exciting future, shaped by several key trends:

  • Rise of Smart GSE: Integration of IoT, sensors, and data analytics will enable smart GSE solutions for remote monitoring, predictive maintenance, and improved operational efficiency.
  • Focus on Sustainability: There will be a growing emphasis on eco-friendly GSE solutions with features like electric or hybrid powertrains and energy-efficient designs.
  • Focus on Interoperability: Standardization and interoperability of GSE will become increasingly important to facilitate seamless operations between different airlines and airports.

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Calcium Propionate Market Expected to Soar, Reaching US$ 498 Million by 2032

The global calcium propionate market is set to witness growth at a CAGR of 5.6% and top a valuation of US$ 498 Million by 2032.

In terms of product type, dry calcium propionate for confectionery and liquid calcium propionate together accounts for over 40 % of the Calcium Propionate market in 2022.

Due to the calcium propionate capabilities, the bakery goods category is expected to dominate the market in lowering chemical agents in yeast and bacteria, which is a prominent element in bread products. Furthermore, the dry calcium propionate segment is expected to dominate the market.

The demand for the product is rising owing to its cost-effectiveness as compared to other preservatives. Implementation of strict rules and regulations concerning food safety and shelf life is likely to be a major restraint to the market growth in the forthcoming period. However, growing health concerns along with changing lifestyles have increased the application of calcium propionate over the last few years, which will counter hampering factors and favor the market growth during the forecast period.

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The calcium propionate market is the world’s biggest preservative category. Despite the high cost of raw resources, this industry is confronted with difficulties. This component of the study is treated strategically, with a stronger emphasis on its commercial uses and potential business prospects. Increased R&D expenditure, particularly in developed economies like North America and Europe, is likely to provide market participants with growth prospects.

Key Takeaways from Market Study

  • The calcium propionate market is expected to expand at CAGRs of 9.8% and 15% in the US and Europe respectively, through 2032.
  • The European calcium propionate market is currently pegged at USD 106 Mn.
  • In comparison to the liquid form, the dry form of Calcium propionate will have a larger demand. The convenience with which the ingredient may be mixed into meals is one of the advantages of the dry form.
  • By application, the bakery section holds the highest market share and is set to expand at a CAGR of 11%.
  • The outbreak of COVID-19 disrupted the supply chain of calcium propionate, causing a trade slump. However, with nations giving possibilities and rising consumer demand for bakery items, the industry is likely to rise significantly.

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Competitive Landscape

Calcium propionate producers are concentrating their efforts on research and development in order to improve the quality of their goods.

Kemin Industries: In 2018, the firm was bought by Agri-Marketing Corp., which is a Canadian corporation, in 2018. The firm was able to expand and open a new facility in Quebec as a result of this takeover.

Bio-Vet Inc: In the year 2019, the firm created a new section devoted to the mining and production of Calcium Propionate.

ADDCON: The firm extended its production facilities in Germany in 2019. This has been done in order to keep up with rising customer demand. The firm also updated its chemical park location and relocated its operations to a new management building in Germany in the same year.

Key Segments Covered in Calcium Propionate Market Analysis

By Form:

  • Dry
  • Liquid

By Application:

  • Bakery
  • Dairy
  • Meat processing
  • Animal feed
  • Beverages
  • Packaged food products
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • APEJ
  • Japan
  • Middle East & Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Fixed Asset Management Software Market Poised for Remarkable Expansion, Estimated to Reach US$ 11.4 Billion by 2032

The worldwide expected size for fixed asset management Software market was US$ 3.8 billion in 2021 and US$ 4.2 billion in 2022. The market is anticipated to grow at a CAGR of 10.6% from 2022 to 2032, when it will reach US$ 11.4 billion. The market is anticipated to be significantly impacted by the rapid adoption of IoT-based services across numerous industries, including manufacturing, oil & gas, energy, electricity, and construction, over the projected period.

With the emergence of industry 4.0 in the manufacturing sector, various plants have adopted digital technologies to enhance the manufacturing processes, thereby, propelling the industry in the forecast period. Besides, technological development across several sectors like cloud computing, AI, and others is expected to benefit the fixed asset management software market in the forecast period.

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For instance, in September 2019, Adapt IT disclosed a partnership with i-Chain, a South Africa-based fixed asset management services, and solutions company to provide a Web-based system offering easy access to a cloud-based environment, designed especially for educational institutions to assist them in managing their assets.

Key Takeaways from the Market Study:

  • The global fixed asset management market is estimated at USD 3.8 Bn in 2021
  • The global fixed asset management market to expand at 10.6% during the forecast period
  • The U.S market to secure USD 4 Bn and expand at 10.4% from 2022-to 2032
  • The market in China to procure USD 794 Mn while recording a 9.9% CAGR
  • The on-premises segment to expand at 10.2% CAGR
  • The Manufacturing segment to record a 10.4% growth rate

Competitive Analysis:

Key participants of the global fixed asset management software market include IBM, Infor, SAP, Microsoft, and Oracle, among others.

Recent key developments among players are:

  • In March 2021, Sage, a cloud-business solutions provider acquired Task Sheriff, an artificial-based SaaS. The acquisition is focused on strengthening its AI technology and Task Sheriff founders would join Sage AI Labs. It is a global team of engineers, data scientists, and product managers, located in Melbourne, Barcelona, San Francisco, and Tel Aviv.
  • In April 2019, Infor signed an agreement with First Bus. Infor agreed to strengthen asset management for First Bus. First Bus is a transport operator in North America and the U.K.

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Fixed Asset Management Software Market Segmentation:

By Component:

  • Software
  • Services

By Deployment Type:

  • Cloud
  • On-Premises

By Organization Size:

  • Large Enterprises
  • SMEs

By Vertical:

  • Energy and Utilities
  • Manufacturing
  • IT, Telecom, and Media
  • Transportation and Logistics
  • Healthcare and Life Sciences
  • Other Verticals

About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Future Market Insights Inc.
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Industrial Cybersecurity Market Forecasted to Reach US$ 46.96 Billion by 2033 with 7.8% CAGR Surge

The industrial cybersecurity market is poised for remarkable growth, with a projected steady CAGR of 7.8% during the forecast period. In 2023, the market is expected to reach a substantial revenue of US$ 22.36 billion, reflecting the growing importance of securing critical industrial systems. Looking ahead, the market’s trajectory appears even more promising, as it is anticipated to surpass a substantial value of US$ 46.96 billion by 2033.

This robust growth is indicative of the increasing awareness of the vulnerabilities in industrial networks and the imperative need to protect them against cyber threats. As industries continue to adopt advanced technologies and interconnected systems, the demand for industrial cybersecurity solutions is set to remain on an upward trajectory, ensuring the safeguarding of vital infrastructure and operations.

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Because of too many smart gadgets, customers, enterprises, and communication service providers all interact differently. They have enabled the automation and adaptation of numerous company procedures. The increased use of smartphones throughout the world has led to an increase in the number of networked devices that run on a variety of platforms.

Due to the relative rarity of targeted attacks against automation systems and the excessive reliance on safety measures, industrial company owners and their workers misunderstand the current and impending potential hazards in the industrial control systems environment.

Industrial control systems protect against synthetic assaults. As a result, security products and software solutions are created without considering new dangers or the nature of future attacks, as well as without conducting a thorough analysis and examination of the present threat environment. As a result, real-world threats are underappreciated.

In the industrial sector, modern security technologies are utilized to prevent cyber-attacks, while attackers develop new techniques and processes to circumvent them. Investments in security defense and detection technology aid in the construction of successful defensive plans; yet, human error is one of the most common sources of breaches.

These mistakes occur as a result of employees’ lack of understanding, putting the industrial sector at risk. Advanced cyber-attacks vary in design, but they always target specific network weaknesses and exploit them to get access to company networks. Advanced cyber threats have risen dramatically in recent years, becoming a serious security problem for the industrial sector.

Employee training should be regarded as equally important to properly safeguard industrial facilities from cyber-attacks or cyber threats, in addition to adopting appropriate hardware and software-based security technologies.

North America is expected to have a significant industrial cybersecurity market share. Significant industrial cyber security market players are mostly responsible for the region’s progress. The North American industrial cyber security market is predicted to rise as key companies increase their investment to extend their global footprint.

During the anticipated period, Asia Pacific is expected to increase at the fastest rate. The adoption of cloud-based security software is a priority for major players. In the manufacturing industry, these nations have a large number of SMEs and startups.

Key Takeaways from the Industrial Cybersecurity Market Report:

  • The hardware solutions from the industrial cyber security market are expected to grow at the fastest CAGR of 7.1% in the component sector.
  • The discrete industry is expected to grow at a high rate in the end-use sector of the industrial cyber security market, with a CAGR of 7.6%.
  • The market size for industrial cyber security in the United States is expected to reach US$ 9.7 Billion by 2032, growing at a CAGR of 7.3% during the research period.
  • UK is expected to reach a market size of US$ 2.6 Billion in the industrial cyber security market by 2032, with a CAGR of 7.7% during the research period.
  • China’s industrial cyber security market is expected to be worth US$ 3.2 Billion by 2032, with a CAGR of 9.1% over the forecast period.
  • Japan is expected to have a market size for industrial cyber security of US$ 2 Billion by 2032, with a CAGR of 9.2% during the research period.
  • By 2032, India is expected to reach a market size of US$ 2.6 Billion in the industrial cyber security market, with a CAGR of 9.3% during the research period.

Competitive Landscape:

  • Several business strategies are being implemented by these companies to boost their global expansion and deliver sophisticated security services.
  • Exablaze, an Australian developer and producer of innovative network devices, was acquired by Cisco System, Inc. in February 2020. This acquisition will help the organizations improve their security network performance.
  • Broadcom Inc. will introduce BizOps, an improved decision-making platform for sectors, in June 2020. This approach would aid businesses in speeding up decision-making across a variety of commercial and technological fields.
  • CyberArk Software Ltd. introduced CyberArk, Cloud Entitlements Manager, an artificial intelligence-based solution, in November 2020. The solution was created to improve cloud infrastructure security layers across businesses.

Leading Key Players:

  • Schneider Electric SE
  • Rockwell Automation Inc.
  • CyberArk Software Ltd.
  • ABB Ltd.
  • Bayshore Networks Inc.

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Industrial Cybersecurity Market Segmentation:

By Component:

  • Hardware Solutions
  • Software Solutions
  • Services

By Security Layer:

  • Network Security
  • Endpoint Security
  • Application Security
  • Cloud Security
  • Wireless Security
  • Others

By End-user Industry:

  • Process
    • Oil and Gas
    • Chemical
    • Food and Beverages
    • Energy and Power
    • Other (Water, etc.)
  • Discrete
    • Automotive
    • Electronics
    • Heavy Manufacturing
    • Packaging
    • Others (Aerospace and Defense, etc.)
By Region:
  • North America
    • United States
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • United Kingdom
    • France
    • Spain
    • Russia
    • Rest of Europe
  • Japan
  • Asia Pacific Excluding Japan
    • China
    • India
    • Malaysia
    • Singapore
    • Australia
    • Rest of Asia Pacific Excluding Japan (APEJ)
  • The Middle East and Africa
    • GCC Countries
    • Israel
    • South Africa
    • The Middle East and Africa (MEA)

About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Nandini Singh Sawlani   

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube