The global high integrity pressure protection system (HIPPS) market is expected to grow at a compound annual growth rate of 8.49% over the forecast period to reach a market size of US$916.155 million in 2026 from US$517.894 million in 2019. The market for high integrity pressure protection systems (HIPPS) is estimated to grow in the forecast period. The HIPPS is a safety instrument system that has been designed to prevent the over-pressurization of a plant. It is not a good safety practice to in Read more...
The global market for machine safety was evaluated at US$1,204.949 million in the year 2019 and is anticipated to witness a CAGR of 6.28% over the forecast period to reach the market size of US$1,845.565 million by 2026. Machine safety systems refer to devices or safeguards that are implemented to protect the machines and the personnel working near or on them. The need for machine safety systems is slowly being realized by the industry players as a means to maintain a good public image of the Read more...
The global hyperautomation market was evaluated at US$4.904 billion for the year 2020 which is projected to witness promising growth over the forecast period. Hyperautomation can be defined as the use of technologies like robotic process automation, artificial intelligence, and machine learning among others which when combined, can be used to automate tasks that were once done by humans. Hyperautomation consists of various automation technologies like robotic process automation (RPA), busines Read more...
The robotic process automation market was evaluated at US$2.039 billion for the year 2020 and is projected to witness a CAGR of 31.5% over the forecast period. Robotic Process Automation refers to the process of automating the tedious and repetitive tasks in an organization through the use of robots. According to UiPath, a global software company that develops platforms for Robotic Process Automation, RPA can be defined as “A technology that allows anyone today to configure computer softwa Read more...
The marine compressor market is anticipated to grow at a CAGR of 2.78% during the forecast period, to reach a total market size of US$3.435 billion in 2026 from US$2.836 billion in 2019. The marine compressor is a piece of auxiliary machinery used in ships and other vessels, which go into the ocean. These are used for producing compressed air, which has various applications on board, in both the engine and deck departments. The compressor serves multiple purposes in a ship. The primary Read more...
The global marine winch market is evaluated at US$915.254 million for the year 2019 and is projected to grow at a CAGR of 1.17% to reach a market size of US$993.088 million by the year 2026. Marine winches are mechanical devices with wire rope/chain for lifting or pulling operations. They are widely utilized in lifting and pulling equipment that is used on boats/ships, docks/shores, ports, offshore platforms, etc. for anchoring, mooring, towing, and weightlifting operations. A winch is power- Read more...
The global conveyor belt market size is projected to reach US$4.094 billion by 2026, from an estimated value of US$3.109 billion in 2019, growing at a CAGR of 4.01%. during the forecast period. The conveyor belt market is estimated to grow in the forecast period. An increase in industrial activities and rapid urbanization are the major factors leading to growth in the conveyor belt market. The conveyor belts are used across various industries like manufacturing, mining, aviation, food and bevera Read more...
The global variable frequency drive market is expected to grow at a compound annual growth rate of 4.65% over the forecast period to reach a market size of US$24.410 billion in 2026 from US$17.758 billion in 2019. In segmentation of variable frequency drive market by type, the market is segmented into AC, DC, and servo drives, among them AC drives are projected to have the largest market share in the forecast period as they can be used in a wide range of applications because of its adjustable ch Read more...
The global marine powerboat battery market is projected to grow at a steady rate during the forecast period. The market of marine powerboat battery is expected to drive by increasing demand for water sports as leisure activities, increasing tourism for marine and coastal tourism, increasing income, and increasing demand for transportation through marine. In addition to that, the increasing demand from SMEs and vertical provides further boosts the demand for the marine powerboat battery market. T Read more...
The articulated robots market was evaluated at US$11.194 billion for the year 2019 growing at a CAGR of 17.10% reaching the market size of US$33.797 billion by the year 2026. The market of articulated robot market is estimated to grow in the forecast period. An increase in the transformation of industries towards automation has led to an increase in the demand for articulated robots. It has at least two rotary joints and is mostly used in different manufacturing procedures, such as handling comp Read more...
