Thermoelectric Module Market Expected to Reach US$ 1,713.9 Mn by 2027

According to a new market research report titled ‘Thermoelectric Module Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2019–2027,’ published by Transparency Market Research, the global thermoelectric module market is expected to reach value of US$ 1,713.9 Mn by 2027, expanding at a CAGR of 11.7% from 2019 to 2027. According to the report, the global market is expected to be influenced by a range of macroeconomic factors, such as GDP and market trends, during the forecast period. In terms of demand, Asia Pacific is projected to lead the global market in the next few years. The market in the region is likely to expand at a CAGR of 12.1% during the forecast period.

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Advantages offered by thermoelectric modules over conventional products to drive the global thermoelectric module market

The global thermoelectric module market is projected to expand at a significant growth rate during the forecast period, owing to advantages offered by thermoelectric modules over conventional products across the world. Large thermoelectric systems have been built for special applications such as railroad cars, cooling within submarines, and semiconductor manufacturing. Presently, thermoelectric systems with high power are being preferred in the market. Thermoelectric systems with their capacity ranging from 200 Watt to 400 Watt are being commonly used in various sectors such as automotive and industrial.

Global Thermoelectric Module Market: Scope of Report

The global thermoelectric module market has been broadly segmented based on technology, material, type, application, end-use industry, and region. In terms of technology, the market has been segmented into single stage and multi stage. Among these, the single stage segment holds a significant share of the market and it is anticipated to expand at a CAGR of 11.4% during the forecast period. Based on material, the market has been classified into bismuth telluride (Bi₂Te₃), lead telluride (PbTe), silicon germanium (SiGe), and others. Among these, the bismuth telluride segment held a prominent i.e. 39.9% share of the global thermoelectric module market in 2018. It was followed by the lead telluride segment. In terms of type, the global thermoelectric module market has been divided into bulk (standard) TEM, micro TEM, and thin-film TEM. Among these, the bulk (standard) TEM segment held a significant share of the global market in 2018. It is expected to expand at a CAGR of 11.5% during the forecast period. In terms of application, the market has been categorized into analytical instrumentation, automotive electronics & safety systems, refrigeration & cryogenics, thermal cycling, detectors, and others. The refrigeration & cryogenics segment held a major share of the global market in 2018. It is anticipated to expand at a CAGR of 11.2% during the forecast period. Based on end-use industry, the market has been segmented into aerospace & defense, automotive, consumer electronics, healthcare, food & beverages, energy & utility, and others. Among these, the consumer electronics segment held a significant i.e. 33.5% share of the global market in 2018. In terms of region, the global thermoelectric module market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and South America.

In-flight Autopilot Systems Market: Increasing Trend of Aircraft Automation to Boost Market’s Growth

The global in-flight autopilot systems market is highly consolidated, which makes it difficult for any new player to enter this market, states a new study by Transparency Market Research (TMR). The top three participants in this market, namely, Honeywell International Inc., Rockwell Collins Inc., and Garmin Ltd., acquired 63% of the overall market in 2014. The market is led by technological advancements and the prominent players are likely to involve actively in innovation and research and developments in the coming years. Some of the other prominent players in the worldwide market for in-flight autopilot systems are BAE System Plc and L3 Communications Holding Inc, reports the research study.

As per the research report, the global market for in-flight autopilot systems is expected to offer an opportunity worth US$8.14 bn by 2021 end, expanding at a CAGR of 4.0% during the period from 2015 to 2021. North America, Asia Pacific, the Middle East and Africa, Europe, and Latin America have surfaced as the key regional markets for in-flight autopilot systems across the world. With the increasing demand for in-flight autopilot systems, North America has been registering a lead over all the regional markets for in-flight autopilot systems. The trend is expected to continue in the years to come, with the North America market acquiring more than 45% by 2021. Europe is also projected to report significant growth in its market for in-flight autopilot systems, notes the research study.

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Increasing Trend of Aircraft Automation to Boost Market’s Growth

“The global market for in-flight autopilot systems is gaining substantially from the increasing research activities for the development of advanced autopilot systems, equipped with latest technologies,” says a researcher at TMR. The overall improvements made by aircraft manufacturers in increasing operational efficacy of aircraft, such as the deployment of autopilot systems, is boosting the global market considerably.

The rising trend of automation in aircraft is likely to support this market in growing steadily over the next few years. Apart from this, the increasing awareness pertaining to the benefits offered by in-flight autopilot systems, such as decrease in pilot fatigue, is also projected to propel this market in the years to come, states the research report.

Hygienic and Aseptic Valves Market: Elimination of Preservatives from Food and Beverages Drives Demand

Transparency Market Research observes that the competitive landscape in the global hygienic and aseptic valves market has quite a few leading players. Currently the players are focusing on expanding their business in emerging markets to cater to the huge potential in the developing regions. “Furthermore, companies are also looking at providing solutions to sectors such as biotechnology and pharmaceuticals to strengthen their market position,” states the lead author of this research report. Some of the key players operating in the global market are Alfa Laval AB, SOX Flow, Inc., ITT Corporation, GEA Group AG, and Pentair PLc.

The research report states that the global hygienic and aseptic valves market is expected to be worth US$9.0 bn by the end of 2025 as compared to US$6.0 bn in 2015. The market is expected to show progress of 4.8% CAGR during the forecast period.

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Hygienic Single Seat Valves Show Robust Growth Rate as Companies Comply to Sanitation Norms

On the basis of types of valves, the global market is segmented into hygienic single seat valves, hygienic double seat valves, hygienic butterfly valves, hygienic control valves, and aseptic valves. Of these, the hygienic single seat valves are expected to outperform all other segments. By the end of the forecast period, the segment is expected to acquire a share of 26.0% in the global market. The dominant share of this segment will be attributable to the ability of these valves to meet the strict regulations pertaining to aseptic and hygienic processes in industries such as pharmaceuticals, food and beverages, and dairy. In terms of geography, North America is leading the global market due to region’s continuous investment in expanding manufacturing facilities. The region is expected to rise at a CAGR of 7.1% between 2016 and 2025.

Automation and Modernization of Production Processes Boosts Global Market

Analysts state that the demand for hygienic and aseptic valves is likely to be on the rise in the coming years. The demand is likely to be fueled by the need to eliminate the usage of food preservatives in the food industry. Presently, several fitness-conscious and health-conscious people are focused toward reducing the consumption of food preservatives due a growing awareness about their negative impact on the human body. The majority of the processed food and beverages includes preservatives that are hampering the natural metabolism of the body. Thus, to cut down the usage of these harmful substances, food manufacturers are deploying hygienic valves in several industrial sectors.

The market is also expected to grow against the backdrop of increasing focus on sanitary regulations especially in the food and beverages industry. The market is also being supported by growing initiatives of modernization in countries such as the U.S., China, Brazil, and India. The cooperation from several large organizations to comply with sanitary, safety, and modernization norms are collectively expected to boost the growth of the market. In the coming years, efforts to incorporate plant automation are also likely to augment the demand for these valves, state analysts.

Poor Logistics to Hamper Sales of Hygienic and Aseptic Valves

The steady future of the global hygienic and aseptic valves market is likely to be hampered by the unreliable supply of hygienic aseptic valves. The wavering quality of these valves due to changes in suppliers and poor distribution system is expected to hamper the progress of the global market. However, several companies are focusing on establishing steady logistics and supply chain solutions to solve this issue.

Mechanized Irrigation Systems Market- Highly Fragmented Nature Until The End Of The Forecast Tenure 2016-2024

The global mechanized irrigation systems market has been envisaged in a report by Transparency Market Research (TMR) to bear a highly fragmented nature until the end of the forecast tenure 2016-2024. Several leading players could look to acquire new companies entering the industry. However, other business tactics involving new product launch, expansion, and agreement have been foreseen to be used in the market to gain a strong position in the coming years. Some of the prominent names operating in the industry are Lindsay Corporation, Jain Irrigation Systems Limited, Hunter Industries, EPC Industries Limited, and Driptech India Pvt. Ltd.

TMR has envisioned the global mechanized irrigation systems market to register a 14.9% CAGR during the aforementioned forecast tenure. By the final forecast year, the market could be valued at a US$35.0 bn. On the basis of type, center pivot irrigation systems have been projected to continue their lead in the market from the recent past. By region, North America could account for a lion’s share of the market in the near future.

Remedying of Low Agricultural Production Raises Demand

The need to rectify inefficient irrigation systems and low agricultural production to improve crop productivity has been prophesied to be one of the crucial factors enhancing the demand in the world mechanized irrigation systems market. Agriculture could play a significant role in positively impacting the economic development of a nation. A number of mechanized irrigation systems are used in agriculture for applications such as watering crops. Impact sprinklers, moving water nozzles, lateral move systems, central pivot systems, and sprinklers are some of the common watering systems engaged in agricultural activities.

The demand for mechanized irrigation systems has been foretold to gain momentum because of the decrease in resource costs. As a result, mechanized irrigation systems could be highly adopted for a range of applications including plantation and cultivation, besides agriculture. Low cost of irrigation followed by improved productivity, government investments and promotions, and rising awareness about the benefits of using mechanized irrigation systems in farming could be among strong growth factors of the market.

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Consistent Maintenance Requirement Throws Wrench in Works

TMR analysts have identified two leading growth restraints of the international mechanized irrigation systems market: constant need for equipment maintenance and expensive initial investment. Although these restraining factors have been expected to hamper the demand for mechanized irrigation systems, there could be other factors creating robust growth opportunities in the coming years.

Water and food scarcity and aggressive population growth could strengthen the growth of the international mechanized irrigation systems market. High focus on minimum wastage and efficient usage of water and water resources in developed economies have been predicted to set the tone for a valuable growth of the market. The demand for mechanized irrigation systems could be increased because of several prospects introduced with the recycling of organic matter and increasing usage of wastewater treatments. Moreover, in order to reduce labor costs, mechanized irrigation systems are used to irrigate most gardens, lawns, and nursery crops.

Reciprocating Compressors Market | Key Players are Wuxi Compressor Co., Ltd., Shenyang Yuanda Compressor Co., Ltd.

The leading players operating in the China reciprocating compressors market are Wuxi Compressor Co., Ltd., Shenyang Yuanda Compressor Co., Ltd., Shenyang Blower Works Group Corporation, and Zigong Tongda Machinery Manufacturing Co., Ltd., observes Transparency Market Research in its latest publication. The highly competitive market is witnessing a rise in the presence of local manufacturers and an influx of multinational manufacturers as well. Research suggests that local manufacturers should join hands with foreign investors to gain a competitive edge in the long run.

According to the research report, the opportunity in the China reciprocating compressors market was worth US$771.1 mn in 2014 and is anticipated to reach US$1,178.9 mn by 2022. Between the forecast period of 2015 and 2022, the overall market is expected to rise at a CAGR of 5.3%. The industrial process gas reciprocating compressors segment is anticipated to lead the overall market by the end of 2022, earning a revenue worth US$351.3 mn.

Industrial Process Gas Reciprocating Compressors Remain Preferred Choice of Compressors

The demand for industrial process gas reciprocating compressors will surge as manufacturers are changing their processes from being labor-intensive to technology-oriented. The demand for industrial process gas reciprocating compressors will continue to surge across China as they are highly cost-effective. The oil-free reciprocating compressors segment is also expected to present immense opportunities as end users are trying to comply with regulatory reforms. Owing to this reason, the installation of oil-free reciprocating compressors will be high in industries such as food and beverage, electronics, pharmaceutical, and textiles during the forecast period.

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Sustained Industrial Development to Raise Demand for Compressors

The World Bank estimates suggest that China’s economy is expected to dip by 0.2% by 2017. Despite the slight decline, the industrial production is expected to grow at a sustained pace as the country largely depends on manufacturing. Furthermore, increasing foreign direct investment (FDI) and the abundance of cheap and affordable labor will keep the industrial sector going at a steady rate. Owing to these reasons, the demand for industrial production will remain persistent during the forecast period, the research report predicts.

The overall market is also being driven by efforts put in by local manufacturers to competitively price the products, introduce improvements in the overall design of the compressors, and offer value-added services and after-sales services. Furthermore, catering to target-specific segments with integrated solutions is anticipated to drive the China reciprocating compressors market in the near future. A shifting focus towards diversification of portfolio and increasing investment in nitrogen compression technologies is also anticipated to open up new opportunities for players.

Fraudulent Imitation of Compressors Restrains Market Growth

The China reciprocating compressors market is being restrained by the fraudulent imitation of compressor designs. The intense price competition is also hampering the profitability of compressor vendors in the overall market. In the oil-free reciprocating compressors segment, the demand for compressors is suffering as the cost of the disposal of waste oil is considerably high and the emergence of oil-free rotary screw compressors is significantly providing a better alternative to the end users.

“End users of reciprocating compressors in China should focus on delivering reliable compressors to match international standards and compete with foreign companies,” states the lead author of this research report. This will help vendors materialize the efforts put in by the government to promote local products.

Service Robotics Market – Increasing Demand For Industrial-Grade Products Occurring In Almost Every Sector

The vendor landscape of the global service robotics market features a largely consolidated nature, says Transparency Market Research on the basis of a recently published report. Such a consolidated mainly exists due to the presence of a handful of players the market. Four leading companies, namely AB Electrolux, Samsung Techwin Co. Ltd., iRobot Corporation, and Panasonic Corporation collectively accounted maximum shares. However, the number of players increasing entering the global service robotics market is increasing by the day, which is expected to intensify the competition in the next few years.

With an increasing demand for industrial-grade products occurring in almost every sector, a high requirement for automation in the form of robotics to mass produce commodities is being felt all over the globe. This has made manufacturers developing robotic services that deliver functional transformation and commercial excellence. In this way, a key strategy adopted by most players working in the global service robotics market involves achieving extensive product and service differentiation to stay ahead in the competition.

According to experts from Transparency Market Research, the global service robotics market had gained revenue worth US$5.57 bn in 2014, which is further expected to grow up to US$22.50  bn by the end of 2021. This growth is projected to occur at a stellar CAGR of 18.8% during the forecast period from 2015 to 2021.

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Mammoth Investments by Players Promises Market to Witness Spectacular Expansions

A rapidly increasing demand for fast production capacities in industrial environments is primarily driving the global service robotics market. Such a high demand mainly exists in automotive assemblies, telecom networks, food and beverage processing, aircrafts and other large transportation forms, heat treating machines, bench presses and other heavy machines, devices used for steering and ship stabilization, and various other systems. Moreover, several companies are pouring large sums of money to facilitate research and developmental processes regarding robotics in industrial automation. This too has been responsible for propelling growth in the global service robotics market.

Various industrial segments are adopting robotic systems to reduce labor burden, consequently making the market grow at a respectable pace. Robotic automation also brings into picture the implementation of various innovative solutions, compared to manual processes. All these factors are certainly expected to fuel the global service robotics market, and make it thrive spectacularly and better than current times during the forthcoming years.

High Expenses Required to Develop Robotic Systems Stunts Expansion

However, steep costs required to set up robotic systems for machinery production, as well as expensive research and development activities undertaken for the same is greatly hampering the global service robotics market’s growth. High installation and maintenance expenses are discouraging small-scale plants and industries to avoid robotic automation completely. Moreover, lack of awareness regarding benefits of robotics in several regions too is posing as an obstacle to the market in several developing and emerging economies. Nevertheless, several end user segments such as pharmaceuticals, chemicals, water management, and electronics, are witnessing a rampant need for robotic services. This is certainly expected to soon reduce the restraints affecting the global service robotics market.

This review of is based on a recent market research report published by Transparency Market Research, titled, “Service Robotics Market (Product - Professional Service Robots and Personal Service Robots; Application - Defense, Agriculture, Healthcare, Logistics, Aerospace, Infrastructure, Entertainment, and Research and Development) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2021.”

Medium and High Power Motors Market- Increasing Replacement Of Outdated Electric Motors Will Also Augment The Market Growth

According to a recent market research report released by Transparency Market Research, the global medium and high power motors market is expected to develop at a CAGR of 7.3% during the period between 2013 and 2019. The report, titled “Medium and High Power Motors Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019”, estimates the global medium and high power motors market to be valued at US$69.91 billion by 2019.

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The report points out that the positive outlook of manufacturing industries and incentive for energy efficient electric motor driven systems will boost the growth of the global medium and high power motors market. Increasing replacement of outdated electric motors will also augment the market growth. However, volatility in raw material price and high purchase price of energy efficient motors will restrain the growth of the overall market. The global medium and high power motors market has a huge opportunity to grow with the production of high and premium efficiency motors.

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On the basis of motor type, the global medium and high power motors market has been divided into AC motors and DC motors. AC motors have been sub-segmented into single phase motors and three phase motors. DC motors have been further segmented into brushless motors and brushed motors. AC motors segment held 79.4% of the market revenue in 2012 and is expected to continue its dominance over the next couple of years. According to efficiency class, the report categorizes the global medium and high power motors market into IE1, IE2, IE3, and non-regulated motors. The market has been dominated by IE2 efficiency class motors. The IE2 efficiency class motors have been adopted across several countries and accounted for 70.7% of the market, in terms of revenue in 2012. In North America, the use of IE3 class motors has become mandatory. During the forecast horizon, IE3 class motors are expected to witness a significant growth due to implementation of mandatory regulations to use premium efficiency motors across different countries.