The elevators and escalators market is evaluated at US$75.526 billion in 2018 and is expected to grow at a CAGR of 2.76% to reach US$88.923 billion in 2024. Elevators and Escalators provide speedy process and continence traveling around the building which is considered one of the reasons for their high adoption around the globe. Rapid urbanization and increasing investment in the construction sector are other key factors augmenting the growth of the market. Rapid growing geriatric population a Read more...
The cooling tower rental market is estimated to witness a CAGR of 5.76% to reach US$1,021.548 million in 2024 from US$730.074 million in 2018. A cooling tower is the most imperative piece of equipment in any industry that is targeting to eliminate unwanted heat with minimum use of water. With heat being just a by-product of the entire production pr Read more...
The power supply market is projected to grow at a CAGR of 5.11% to reach US$33.600 billion by 2024, from US$24.915 billion in 2018. The power supply market is expected to grow on account of rising usage of electronics at home and in industries. The market will also grow due to the emerging telecom sector all around the world, as it requires continuous and uninterrupted power supply solutions. In addition, the increasing demand for energy efficient solutions will lead to increasing investment in Read more...
The Solar Simulator market is projected to grow at a CAGR of 7.22% to reach US$8.891 billion by 2023, from US$5.851 billion in 2017. The solar simulator market will show growth with the rise in the investment in the research and development of solar cells, ultraviolet resistive cosmetics and paints, medical treatments, and many other fields, as Solar Simulators provide a more affordable option than the traditional testing and research methods. However, the market will see restraints due to the l Read more...
The Cable Conduit market was valued at US$5.070 billion in 2017 and is projected to grow at a CAGR of 10.25% over the forecast period to reach US$9.106 billion in 2023. Safety and security are considered as one of the priority concerns during installation of wiring systems. There is an increasing demand for safe and secure wiring systems in industrial and commercial sectors which is considered as the key driver for the growth of the market. Rapid urbanization in developing economies leads to inc Read more...
The Air Purification Systems market is projected to grow at a CAGR of 9.15% to reach US$28.830 billion by 2023, from US$17.053 billion in 2017. Rising prevalence of health disease due to air pollution and increasing consumer spending on healthcare are considered as the key drivers for the growth of the market. According to World Health Organization every year nearly 7 million people die which accounts one in eight of total global deaths as a result of air pollution exposure. Strict government re Read more...
The automatic power factor controller market is projected to grow at a CAGR of 5.15% to reach US$5.101 billion by 2024, from US$3.773 billion in 2018. The growing global focus on optimizing energy consumption is resulting in the growth of the automatic power factor market on account of its ability to significantly reduce energy loss. Moreover, since it tends to manage electricity more efficiently, it tends to increase the durability of an electrical equipment, which is further boosting the growt Read more...
The microgrid as a service (MaaS) market is projected to grow at a CAGR of XX.XX% to reach US$XX.XXX billion by 2023, from US$XX.XXX billion in 2017. The growing construction of data centers driven by the increasing penetration of digital economy while, simultaneously, growing number of urban center sand connected machines have increasingly pushed the demands on the aging power grid structures. This is leading to the increasing construction of microgirds to relatively reduce the load from the Read more...
Biofuel Enzymes market is projected to grow at a CAGR of 9.05% to reach US$1,519.725 million by 2024, from US$903.772 million in 2018. Growing environmental concerns and stringent government regulations and policies for blending of biofuels are significantly driving the demand for biofuel enzymes. Growing global biodiesel consumption and bio-based ethanol owing to strict carbon dioxide emission norms is also fueling the growth of biofuels enzymes market. Commercialization of lignocellulosic etha Read more...
The refrigeration oil market is projected to grow at a CAGR OF 5.18% during the forecast period of 2018 to 2024. Rising demand for consumer appliances such as air conditioners and refrigerators due to increasing purchasing power and urbanization is one of the major drivers of the refrigeration oil market. Increasing global cold supply chain demand Read more...
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