Global outlook of the electrical conductors market for the power industry
Technavio’s market research analysts predict the global electrical conductors market to grow steadily during the forecast period and post a CAGR of more than 6% by 2020. This industry research report identifies the increase in sales of high-voltage direct current (HVDC) submarine power cables to be one of the major factors that will have a positive impact on the growth of this market in the coming years. It has been observed that the HVDC power cables are the most preferable option for long distance and high-voltage safe power transfer. Due to their light-weight features, the utilities sector also prefers HVDC light cables over alternating current (AC) cables for various applications, especially in submarine power transmission. Several countries in Europe are focusing on increasing their infrastructure investments for the development of renewable energy projects. This will create the need to connect renewable energy sources to the grid network, which will demand the usage of HVDC power cables due to their properties such as low transmission loss. Since electrical conductors are one of the major components used in power cables, this increase in the adoption of HVDC power cables will significantly boost the demand for electrical conductors.
In addition to being lightweight, composites such as the Japanese aluminum conductor carbon fiber reinforced (ACFR), the US aluminum conductor composite reinforced (ACCR), and the US composite reinforced aluminum conductor (CRAC) can also withstand high temperatures and low knee points. This will enhance the efficiency and reliability of the electrical conductor and will, in
Overview of the electric wire and cable market in India
Market research analysts at Technavio have predicted that the electric wire and cable market in India will grow steadily during the next four years and post a CAGR of almost 16% by 2020. This market research analysis identifies the growth in renewable power generation to be one of the primary factors for the growth of the electric cable and wire market. The focus of several countries across world to commercialize renewable power generation will create a significant demand for electrical wires and cables. This is mainly due to the lack of a transmission and distribution (T&D) infrastructure at locations where renewable energy resources are set up. Moreover, the expansion of the existing renewable power generation plants, in the emerging countries, will also result in the increasing demand for electrical wires and cables. Initiatives such as excise duty exemption for Ferro-silicon-magnesium and pig iron used for manufacturing components for wind-operated electric power generators and the target set by the Jawaharlal Nehru National Solar Mission to generate more than 1,00,000 MW of solar power by the end of 2022, will boost the demand for electrical wires and cables in this region.
One of the major trends that will gain traction in this market is the increasing sales of HVDC power cables. Due to their benefits such as reduced transmission losses, light weight, and dimensions, HVDC cables such as HVDC underground cables and HVDC light cables will play a
Overview of the global modular instruments market
Market research analysts at Technavio predict that the global modular instruments market will grow steadily during the next four years and post a CAGR of more than 8% by 2020. This market research analysis identifies the growth of the aerospace and defense sector in developed economies as one of the primary growth factors for this market. Though the aerospace and defense industry witnessed a decline in revenue during the past few years, factors such as the declining crude oil prices, the continuous increase in air traffic, and the recent increase in the defense budget of developing countries like the US, the UK, France, and Japan will drive the growth of the defense industry in the coming years. This will subsequently boost the sales of modular testing equipment as they play a significant role in monitoring the performance of command and communication networks, computer intelligence, and surveillance applications.
This market research and analysis estimates that in terms of geographical regions, APAC will be the major revenue contributor to the modular instruments market throughout the predicted period. The rise in investments in the aviation industry by countries such as India and China that will contribute to the growth of the aerospace industry in the region and the huge volume sales of mobile devices that result in the demand for wireless test equipment, will bolster the market’s growth prospects in this region. Furthermore, the increased adoption of the
Overview of the analytical instrument market in the US
Market research analysts at Technavio have predicted that the analytical instrument market in the US will grow steadily during the predicted period and post a CAGR of almost 4% by 2021. This market research analysis identifies the introduction of stringent regulations by the US government as one of the primary growth factors for the analytical equipment market. Unlike countries in APAC and GCC, such as India, China, and Saudi Arabia, countries in the Europe and the Americas strictly follow regulations set by regulatory bodies such as the Food and Drug Administration (FDA). Instances such as the leakage of harmful gasses and toxic emissions compel countries in these regions to develop and introduce strict guidelines to be followed by the oil and gas industry to improve operational safety and reduce emissions. This will consecutively result in the adoption of high-quality analytical instruments.
Recent rise in the number of electrical and electronic components in the automobile industry will be one of the major trends that will gain traction in the analytical instruments market during the next four years. The increased implementation of wired and wireless serial communications increases the demand for electrical measuring equipment from the automotive industry. To differentiate their products from their competitors, automotive manufacturers are increasingly focusing on the installation of new entertainment systems that can be connected to several devices, embedded cellular technology such as eCall, and GPS and hotspot systems that convert 3G or 4G
Global outlook of the commercial smoke detector market
Technavio’s market research analysts predict the global commercial smoke detector market to grow steadily during the next four years and post an impressive revenue of almost USD 2 billion by 2020. This industry research report identifies factors such as the increasing demand for replacing smoke detectors to have a positive impact on the growth of this market. It has been observed that the replacement of commercial smoke detectors accounted for the market’s major revenue share during 2015. With the introduction of strict regulations by various regulatory bodies across the world, technological advancements, and the rise in awareness among end-users this demand will only increase in the coming years. Factors such as the national fire protection association’s (NFPA) recommendation to replace smoke detectors every ten years coupled with the advent of battery-powered smoke detectors with a sealed battery and a ten-year operational life will drive the growth of the commercial smoke detector market in the coming years.
Advances in smoke detector technology coupled with the adoption of the Internet of Things (IoT) and big data technologies will result in the growing popularity of smart smoke detectors with high connectivity features. This will make it much simpler to monitor the battery status and receive alerts and will also enable end-users to monitor operations through mobile devices from remote locations. Though the high prices of smart smoke detectors pose a significant challenge to the market’s growth, technological advancements and the rising
Overview of the global extrusion machinery market
The global extrusion machinery market is anticipated to grow at a steady rate and will post a CAGR of more than 4% during the forecast period. The emergence of extrusion coating in the packaging industry will drive the growth prospects for the market during the forecast period. Extrusion coating and laminating is a process where materials from different substrates are taken and combined to obtain a single compound structure. The process involves different types of materials like plastics, paper, carton board, or aluminum foils. Also, it has been noted that there is an increasing demand for extrusion coating and laminating lines from the various packaging industries such as the liquid packaging, flexible packaging, and medical packaging industry. Extrusion coating is also used for the manufacture of sacks to pack a variety of product like cement, cereal grain, and dry chemicals.
The increasing popularity of the additive manufacturing process across the globe will drive the growth prospects for the global extrusion machinery market in the forthcoming years. This manufacturing process is also used in the extrusion process as it can produce complex geometries with precise detailing. The process where extrusion takes place layer by layer is called fuse deposition modeling (FDM) and is similar to the 3D printing technique. Also, this technology can be used for materials such as acrylonitrile butadiene styrene (ABS) and nylon. Furthermore, a key advantage of FDM is that it uses readily available ABS plastic, which results in the production of products with good structural properties.
Competitive landscape and key vendors
The global extrusion machine market is highly fragmented due to the presence of many vendors and is
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.