The CNC machine market is projected to grow at a CAGR of 7.62% to reach US$76.058 billion by 2024, from US$48.965 billion in 2018. In contrast to the conventional machines that requires continuous operator’s presence for optimal functioning, CNC machines does the mechanical process based on the pre-defined parameters embedded in computerized control unit which gives it instruction regarding the tool control, feed rate, coordinate systems etc. The growing competitive environment is resulting in Read more...
The steam trap market is projected to grow at a CAGR of 4.86% to reach US$2.593 billion by 2024, from US$1.951 billion in 2018. A steam trap is an automatic valve system that allows air and non-condensable gases to be discharged from the steam system. The optimal functioning of the steam system tends to improve the overall steam plant efficiency, thus, resulting in the delivery of high quality steams required in the production process. As such, the growing use of steam for different applications Read more...
Membrane bioreactor (MBR) market is projected to grow at a CAGR of 7.83% to reach US$5.406 billion by 2024, from US$3.440 billion in 2018. Growing concerns regarding water and wastewater treatment due to global water scarcity are the major driver of membrane bioreactor market. The rising number of industries across the globe has raised environmental concerns regarding the increasing amount of sewage and industrial sludge disposal from industries including food and beverage, pharmaceutical, and Read more...
The fluid handling system market is projected to grow at a CAGR of 4.05% to reach US$307.592 billion by 2024, from US$242.371 billion in 2018. The growing population and simultaneous increase in the proportion of the urban population are leading to the rising demand for consumer goods, energy, and power. This is leading to the growth of the fluid handling system market as these systems are used in the production of the demanded products. Moreover, the growing trend of automating plant operatio Read more...
The network traffic analyzer market was valued at US$600.302 million in 2017 and is expected to grow at a CAGR of 26.05% over the forecast period to reach a total market size of US$2,408.217 million by 2023. Rapid growth of industries across the globe and increasing penetration of digitizing technologies into business processes across industries have been two of the major factors propelling the growth of this market. Rapid growth of cloud computing in many regions has been adding to huge volumes Read more...
The Application Testing Services market was valued at US$37.201 billion in 2019. Application testing services are a comprehensive portfolio of solutions that help enterprises across different industries to reduce the risk of application or system failure while ensuring the effective, efficient, and consistent operation of the organization’s systems to meet the expectations of both business users and customers. With growing competition, enterprises cannot risk the performance of applicat Read more...
The acoustic emission testing market is projected to grow at a CAGR of 6.65% to reach US$370.644 million by 2024, from US$251.849 million in 2018. The use of acoustic emission testing mechanism is gaining popularity in monitoring various structural applications. Simultaneously, the growing construction spending globally is leading to the growth of the market. Moreover, the government of different countries are focusing on encouraging the use of different non-destructive services in order to ensu Read more...
The thin film measurement market is projected to grow at a CAGR of XX.XX% to reach US$XX.XXX billion by 2023, from US$XX.XXX billion in 2017. Thin films are widely used for the purpose of providing passivation, insulating layers between the conductors, diffusion barriers, and hardness coating for scratch and wear resistance. The optimal functionality of the thin films in different applications requires proper measurement regarding the thickness, composition, roughness, and other relevant charact Read more...
The flue gas analyzer market is projected to grow at a CAGR of 6.52% to reach US$841.162 million by 2024, from US$575.731 million in 2018. The focus of the global economy to optimally consume energy and reduce the emission of pollutants is significantly driving the flue gas analyzer market as it enables optimal combustion. Simultaneously, the reduction in the combustion level allows the manufacturers to generate higher margins by making significant savings on fuel cost, which is further su Read more...
The modular instruments market is projected to grow at a CAGR of 8.95% to reach US$2.540 billion by 2024, from US$1.519 billion in 2018. The market for modular instruments is estimated to drive significantly on account of the growing demand from different industry verticals. It is used for various test applications including the product research and development, incoming inspection, quality assurance etc. Moreover, the growing trend of automating various test procedures is further suppleme Read more...
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