Overview of the global dry-type transformers market
The global dry-type transformers market is anticipated to grow at a steady rate and will post a CAGR of more than 5% during the forecast period. The deterioration of transformer oil due to the moisture ingress will drive the growth prospects for the global dry-type transformers market until the end of 2021. According to the industry research report, every time there is a moisture ingress, the quantity of the insulating oil increases, while, the life of the oil is reduced. Some of the major factors responsible for the deterioration of transformer oil is the development of small oil leaks in the oil cooling pipe, absorption of moisture from the atmosphere, aging of transformer, degradation of the insulation, pressure difference in the gasket seals, and failure in the replacement of moist silica in breathers with dry ones.
The expansion of renewable power generation capacity will drive the growth prospects for the global dry-type transformers in the forthcoming years. Some of the major contributing factors for the increasing adoption of renewable sources of energy like wind and solar energy are stringent carbon emission goals and the need to reduce the dependency on depleting fossil resources. For instance, the total wind power installed across the European Union was 142 GW, as per Global Wind Energy Council (GWEC) in 2016. In addition, it has been observed that the Gulf Cooperation Council (GCC) countries are also increasingly shifting towards the usage of alternative energy sources because they witness a constant and steady sunshine throughout the year.
Competitive landscape and
Outlook of the global milling machines market
Technavio’s market research analyst predicts the global milling machines market to grow steadily at a CAGR of around 6% by 2021. One of the primary drivers for this market is the rise the demand for superior-quality products and computer numerical control (CNC) machines. Machine tools are used to implement these specifications for convenient and easy development of complex products and shapes. As a result, effective use of machine tools helps industries to develop superior-quality products with enhanced dimensional accuracy. CNC machines are highly efficient, productive, and enable incorporation of new technologies. These advantages of CNC machines have compelled multiple established vendors to provide applications via the Internet and mobile phones that help in understanding the operation of CNC machines. Also, the demand for small and compact CNC machines that are capable of performing very specific small-scale functions such as milling or drilling will augment the growth of the global milling machines market during the forecast period.
One of the latest trends gaining traction in this market is the development of the 6-axis CNC machines. The 6-axis machine converts a raw metal bar into the final product by turning from both the ends of the fixture, thus eliminating multiple fixtures and other activity in machining activity. It also avoids the waiting time that happens when shifting the workpiece from one machine to other and prevents batch queuing as it concentrates on the lean manufacturing process. Further, the machines can be used to carry out complex work like drilling holes of different diameter and shapes or variable cutting
Overview of the global ICE market
The global ICE market is anticipated to grow at a steady rate and will post a CAGR of around 7% during the forecast period. The growth in non-automotive diesel engine market will drive the growth prospects for the global ICE market in the forthcoming years. Heavy diesel engines are increasingly used in commercial vehicles such as trucks and buses, in off-road equipment such as locomotives, construction machinery, agriculture machinery, power generator sets, and in marine, military, and other applications. Some of the major factors responsible for the rising demand for diesel engines that are required to operate equipment in various industries is the increasing growth in construction, power, agriculture, mining, and marine industries.
The development of eco-friendly locomotives will drive the growth prospects for the global ICE market for the next few years. One of the major factors responsible for the development of locomotives that are environment-friendly is the increasing concern towards finding new ways of cutting carbon emissions in the transport sector. For instance, one of the companies has developed a hybrid locomotive, which incorporates a diesel electric system and battery and is equipped with regenerative braking technology.
Competitive landscape and key vendors
The global ICE market is highly competitive and
Overview of the global mechanical seals market
The global mechanical seals market is anticipated to grow at a steady rate and will post a CAGR of more than 9% during the forecast period. The increasing demand for mechanical seals from water and wastewater industry will drive the growth prospects for the global mechanical seals market in the forthcoming years. One of the major applications of mechanical seals in wastewater treatment plants is the sealing of agitators and pumps. In addition, it has been noted that the demand for water is increasing with the growing manufacturing sectors such as food and beverages, pharmaceutical, and pulp and paper. As a result, governments of most developed and developing countries are increasingly focusing on establishing new water treatment plants, replacement of old water treatment plants, and initiating stringent environmental regulations and water conservation norms.
The rising demand for mechanical seals from the pharmaceutical sector will drive the growth prospects for the global mechanical seals market for the next four years. Some of the major applications of mechanical seals in the pharmaceutical sector include sealing of pumps, compressors, and industrial agitators, which are used to unload, mix, transfer, and process liquids. These pumps handle liquid substances ranging from light viscous, clean, and corrosive fluids to abrasive medium viscous fluids. Also, with the growing world population and health problems such as heart disease, diabetes, and cancer, the
Overview of the global circuit protection market
The global circuit protection market is anticipated to grow at a steady rate and will post a CAGR of more than 7% during the forecast period. The growth of the automotive electronics market will drive the growth prospects for the global circuit protection market until the end of 2021. Most modern automobiles are embedded with electronic systems such as engine electronics, transmission electronics, chassis electronics, safety, driver assistance, passenger comfort, and infotainment systems, which help in controlling the automobile. In addition, they also provide driving assistance, passenger comfort, and infotainment systems to the automotive vehicles. Moreover, to protect these sensitive electronic components of the automobiles, electrical wiring systems are installed. As a result, the demand for circuit breakers and fuses for the design and engineering of automobiles will also grow. Moreover, customers have started demanding for more advanced circuitry protection devices that are used for specific needs of costly electronic control systems and comply with the rigorous standards of the automotive segment.
In terms of geography, the Americas accounted for the maximum market share during 2016 and will continue to dominate
Overview of the global metal cutting tools market
Technavio’s market research analyst predicts the global metal cutting tools market to grow steadily at a CAGR of around 9% by 2021. One of the key drivers responsible for this market is the exponential growth in the automotive industry. The global automotive market consists of light commercial vehicles, trucks, buses, and passenger cars. Low-interest rates and low fuel prices were identified as key factors attributing to the growth of the automotive market. Also, with rapidly growing economies, rising disposable incomes, and increasing traffic, will increase the use of two-wheelers in developing countries. In certain developing countries, two-wheelers are looked upon as an economical alternative to cars and are highly preferred over walking, cycling, and public transport systems. Moreover, the growth in the production of light vehicles will create an additional demand for new welded automotive components; this will create a potential demand for metal cutting tools during the forecast period.
One of the major trends that will gain traction in this market in the coming years is the growth in demand for additive manufacturing. Additive manufacturing is the process of creating three-dimensional objects using a digital file. The process usually involves building the product in thin layers one by one. 3D printing in aerospace and automotive industries enables the production of complex geometries that are either arduous or impossible with traditional manufacturing techniques. As a result, the replacement of the traditional manufacturing techniques with
Heavy industry refers to application segments like construction and demolition, as well as products used in the manufacturing of engineering equipment. Heavy industry also includes ancillary industries that are related to these application segments.
Across the globe, heavy industry participants are experiencing an increasing demand for engineering equipment, tools, and components. As a result, they are incorporating advanced technology in their offerings and developing new equipment to optimize their positions in this highly competitive business environment.
Technavio’s heavy industry domain provides actionable insights that can be useful to stakeholders in manufacturing, construction, and government institutions.
Hyundai, Mitsubishi, Samsung, and Shandong are at the forefront of heavy industry.
Technavio’s portfolio of reports about heavy industry includes construction, test and measurement, equipment and machinery, tools and components, unit operations. The market dynamics of these segments are also examined.