The basic difference between AC and DC is that the alternating current that goes into the converter alternates the direction of the current periodically in the form of a sine wave whereas the direct current flows constantly in one direction. Therefore, a rectifier or an AC-DC converter is a device that can convert alternating current into direct current and is an important device that can be used in several consumer electronic devices like computers, smartphones, and household appliances where these electronic devices need to convert the current to DC power using the converter and then operate smoothly.
The converter rectifies the AC voltage to produce a pulsating DC output and then using filtering components like capacitors it provides a more stable DC output. There are different types of AC-DC converters available such as full-wave rectifiers that convert both halves of the AC input waveform into DC, half-wave rectifiers that convert both halves of the AC input waveform into DC, Bridge rectifiers, and Switch-mode power supplies or SMPS. These converters play a major role in powering a wide range of electronic devices, from small gadgets to large industrial machinery.
Global Production Trends
The production of AC-DC converters is growing with the rise in demand for consumer electronics and the increase in penetration of electronic devices in the day-to-day lives of consumers around the globe. These electronic devices are becoming more important daily in the consumer’s daily life therefore, with the increasing digitization of various sectors and the growth in demand for electronic devices the demand for AC-DC converters to power these devices is growing proportionally.
In recent years, there has been a notable increase in the promotion and awareness of energy efficiency and sustainable alternatives across the globe to reduce carbon footprint and switch over to energy-efficient alternatives. Hence, energy efficiency has become a major focus in the manufacturing and design of AC-DC converters to reduce energy consumption, meet regulatory standards, and minimize heat dissipation.
As AC-DC converters are contributing to making energy-efficient alternatives they are also being used in powering renewable energy sources like solar and wind power and this is raising the production rate of AC-DC converters as they are an essential part of the smooth operation of renewable energy resources. They are used in grid-tied inverters and power conditioning units which convert the variable DC output from renewable energy sources into usable AC power for the grid.
The rapid growth in technological advancements of the AC-DC converter is positively impacting and growing the global production trend for them. For instance, the integration of wide-bandgap semiconductors such as silicon carbide or gallium nitride helps to improve the performance and efficiency of AC-DC converters which leads to compact designs, higher switching frequencies, and reduced losses. Also, the growing focus on reliability and quality as manufacturers are investing in robust design methodologies and a shift towards smart and connected devices that focus on features such as remote monitoring, diagnostic capabilities, and compatibility with IoT platforms are contributing to increasing the AC-DC converter production trends across the globe.
AC-DC converter use case
The AC-DC converter has several use cases that are boosting their production and market around the globe. These use cases include consumer electronics like laptops, gaming consoles, TVs, and tablets for powering them, the growing use of smartphones in the daily life of consumers is increasing the need for AC-DC converters proportionally as they are found in chargers or adapters and power supplies which helps in converting AC mains power to the DC voltage required by the electronic device.
The AC-DC converter is used in industrial automation where it provides power to several electrical components such as sensors and motors and in the telecommunication industry where the infrastructure and the powering equipment such as base stations and telecom towers use AC-DC converters for converting the current according to the device needs.
Moreover, they play an important role in renewable energy systems such as solar energy and wind turbines which can convert the DC power that is generated by solar panels or wind turbines into AC power to operate the facility smoothly coupled with the growing adoption of EVs that needs an AC-DC converter in EV charging stations to convert AC power from there to DC power that is suitable for charging EV batteries.
The data centers present globally need AC-DC converters to provide efficient and stable power output to the servers and the converter powers various medical devices including diagnostic instruments and surgical tools which are necessary for saving a patient’s life, in the aerospace industry they provide regulated power supply to face the harsh operating environments.
The rapidly growing EV infrastructure for charging stations is anticipated to be a major factor contributing to the growth in the growing demand for AC-DC converters globally. For instance, the US government is making significant investments to improve the EV charging infrastructure.
Table 1: Investments for EV Charging by the US Department of Energy
| INVESTMENT AMOUNT |
DETAILS |
| $10 Million |
This investment is made for researching and developing innovative designs and technologies to reduce the cost of electric vehicle supply equipment as they will be needed in large quantities to support large volumes of EVs. |
| $20 Million |
This investment is made to accelerate clean energy jobs or provide new electric transportation solutions to under-served communities and accelerate the adoption of commercially available plug-in electric vehicles. |
| $4 Million |
This investment is made to increase workplace charging regionally or nationally and increase PEV ownership for consumers in underserved communities. |
Market Dynamics and Drivers
Several factors drive the AC-DC converter market, including a rise in the application of AC-DC converters in several consumer electronics like smartphones, laptops, and refrigerators in recent times coupled with the rise in demand for data centers with the growing amount of global data has contributed significantly to boosting the AC-DC converter market.
These data centers need efficient operation of several different IT infrastructures or enterprises and these converters provide efficient and stable power to servers, networking equipment, storage systems, and cooling infrastructure for the smooth operation of the data centers. Also, they play an important role in providing medical devices with a reliable power source and these devices are growing in demand and are anticipated to contribute to growing the AC-DC converter market in the forecast period.
Additionally, the increasing demand for energy-efficient solutions, expansion of renewable energy infrastructure, advancements in power electronics technology, growing adoption of electric vehicles, and increasing investment in infrastructure development powering critical infrastructure components and supporting economic growth using the converter are the factors that are predicted to propel the market growth as they have a significant use for AC-DC converter for proper functioning.
The AC-DC convert plays a crucial role in the proper functioning of data centers and with the growth in the development of data centers the demand for AC-DC converters will rise proportionally. For instance, the USA has the largest amount of data centers across the globe which is over 2,600. This includes data centers in Dallas with the highest number of data centers which is 149 followed by the Bay Area with 147 data centers as stated by USITC.
Figure 1: States With the Most Number of Data Centers in the USA
Source: usitc.gov
Challenges and Constraints
Despite the huge advantages and use cases of AC-DC converter the companies that manufacture them face a lot of challenges with significant improvements being made in AC-DC converter technologies and keep up with that improving technology and increasing complexity. Also, meeting stringent regulatory standards for energy efficiency, cost burdens in the electronics industry, component shortages, supply chain disruptions, and high-power densities and switching frequencies in AC-DC converters that result in significant heat generation are anticipated to hinder the AC-DC converter market growth over the forecast period.
Emerging Opportunities and Innovations
Although challenges might hamper the market, the AC-DC converter market presents numerous opportunities for innovation and growth. Advances in its applications across various industries like aerospace, electronics, automotive, and energy are the major reason for that. Also, the adoption of wide-bandgap materials such as silicon carbide and gallium nitride in power semiconductor devices, integration of digital control techniques, and integration of GaN-based power devices, gate drivers, and passive components into compact power modules that offer higher power density are some innovations that are predicted to positively affect AC-DC converter market.
Key Developments
- In March 2023, Advanced Energy Industries, Inc. added a 48 V module and expanded its Artesyn AIF family of full-brick AC-DC converters which further increases the efficiency of the operation process of the converter and has several applications like robotics and 3D printing.
- In June 2022, The ABB company or enterprise opened one of the largest DC fast charger production facilities in Italy which helped with the charging solution for the growing adoption and popularity of EVs among the general public of the region and strengthened the position of the ABB company as the world leader in EV charging solutions with the opening of the facility in the Italy country.
- In June 2021, ROHM company announced that they launched one of the industry’s first AC/DC converter ICs that comes with a built-in 1700V SiC MOSFET and it is specially designed to optimize industrial applications.
At last, concluding that the AC-DC converter market is predicted to have several innovations and growth opportunities over the forecast period. The market is driven by the increasing popularity of electric vehicles coupled with consumer electronics and applications across various industries like growing data centers and renewable energy. There are several challenges to be faced such as growing advancements in technologies and reducing power consumption of AC-DC converters to make them energy efficient. Therefore, the industry is anticipated to capitalize on technological advancements and innovations to meet the needs of a growing global demand for AC-DC converters.
The Burgeoning Demand in the HVAC Insulation Market
Thought ArticlesThe HVAC insulation market is projected to grow at a CAGR of 5.82% during the forecast period to reach a value of US$7.713 billion by 2027, from US$5.192 billion in 2020.
Introduction
HVAC insulation includes ventilation, heating, and air conditioning systems. The purpose of this insulation is to enhance a building’s sound insulation, safety measures, and power efficiency. The insulation in this system prevents the transfer of heat. The airflow in the ductwork is supposed to be maintained at a proper temperature level, which makes duct insulation critical in the HVAC system. HVAC insulation systems are used in the commercial, housing, and industrial sectors.
Innovations in HVAC systems to augment market growth
HVAC insulation systems have witnessed significant technological developments, which have led to considerable savings in energy and better functioning equipment. These innovations in technology aid in accelerating the demand for HVAC systems, and thus surge the demand for the HVAC insulation market. Optimized Thermal Systems in Maryland has been working on an innovative heat exchanger that is expected to mitigate refrigerant leakage by 90% when compared to the present ones. This technology would allow the refrigerant to stay where it should, which would further help in keeping houses cool and the expenditures of energy low, owing to the fewer joints. Further, the University of Florida has been working on a prototype that combines a dehumidifier, water heater, and air cooling unit together to improve heat transfer efficiency. This method would help improve the in-house dehumidification management, leading to enhanced comfort and significant energy savings. Furthermore, Dais Analytics in Florida has collaborated with Oak Ridge National Laboratory (ORNL), to create a novel membrane-based roof-mounted air conditioning unit that would use water as a refrigerant. This technology would be suitable for hot, humid summer evenings, and is also expected to save 30% – 50% electricity when compared to the current rooftop units.
Installation Costs to act as a restraint toward market growth
HVAC systems provide heating and cooling to various places like airports, hotels, houses, and industries, among others. However, the initial cost of installation for an HVAC system is extremely high. Furthermore, these systems are susceptible to breakdowns and need regular maintenance. An HVAC system might fail due to high extremes of outside temperatures, thus requiring costly repairs. Approximately, over half of the air conditioning and heat pump systems installed currently increase the consumers’ utility costs by almost 30%. According to the National Institute of Standards and Technology, the causes for this are insufficient installation and malfunctioning equipment. The Office for Energy Efficiency and Renewable energy further states that about 3 million heating and cooling units are replaced annually, and almost US$14 billion is spent on their maintenance and repairs.
Adding to that, the HVAC industry is unregulated. Contractors do not need any licensing for them to install or repair an HVAC system which makes the industry unreliable. These factors thus hamper the growth of the HVAC insulation market and are likely to cause a decline in demand in the analysed period.
Geographical insights
The Asia Pacific region is projected to have the largest market share, owing to the rapid developments in the construction sector and is predicted to continue leading the market in the forecasted period. A huge rise in the number of commercial buildings in emerging economies of this region serves to provide lucrative opportunities to the HVAC insulation market. Novel commercial establishments such as multiplexes, shopping complexes, office buildings, and academic institutions that have surged in the developing economies in recent times are insulated using this HVAC insulation to maintain optimum indoor temperatures. Such indoor environments prevent noise transmission which is required for a disturbance-free work environment and is thus expected to augment substantial growth in the region.
North America and Europe are other established regions in the HVAC insulation market. Extreme cold and sub-zero temperatures in various countries of these regions necessitate buildings to be insulated to maintain favourable indoor environments. The UK is expected to witness significant growth in the analysed period. According to the Climate Change Act 2008, the country is aiming to reduce greenhouse gases by 80% at the least by 2050. Since the gas infrastructure of the UK does not have any suitable replacement, it would need the development of clean and carbon-free alternatives, like hydrogen or biogas. The United Kingdom has thus started to invest heavily in low-carbon heating options to alleviate the emissions from heating. One such heating option is the low-carbon heat pump, as it is regarded as an efficient and effective option to tackle the growing climate change problem. Heat pumps are a type of HVAC equipment that help in the provision of both heating and cooling in an infrastructure. The UK government has announced its aim to install about 600,000 heat pumps by the year 2028, which is expected to drive up the demand for the HVAC insulation market.
COVID-19 Insights
The COVID-19 pandemic led to a slowdown in overall market sales. Most of the construction industries were shut down indefinitely, owing to the stringent lockdowns mandated by various countries. The HVAC insulation market went through massive losses during this time. However, as the countries have started to ease these regulations, the market has started to gain traction again. The HVAC insulation market has witnessed a significant increase in demand in 2020 and 2021. With most industries getting back to their normal functioning, the HVAC insulation market is projected to rise.
Comparative Study of High-Temperature Composite Material Market
Thought ArticlesThe high-temperature composite material market is projected to grow at a healthy CAGR over the forecast period.
High-temperature composites are lightweight composites that can withstand temperatures of up to 1000°C. The materials used in lightweight composites have outstanding thermo-mechanical endurance and dimensional consistency at high temperatures. Incombustibility, the elimination of smoke while subjected to heat or fire, and vibration resistance are all advantages of high-temperature composite materials. Heat shields, fire barriers, exhaust ducts, pipes containing hot fluids or gases, and other internal structures are only a few of their significant applications. High-temperature composite materials are often used as thermal and sound insulators in rocket fuel tanks, supercooled tanks, vehicle cylinders, nuclear power plants, and airplane fuselage heat insulation.
Due to rising geographical geopolitical tensions and the South China Sea, the demand for sophisticated defence equipment including hypersonic missiles, unmanned aerial vehicles, fighter aircraft, and communication and spy satellites is increasing. High-temperature composite resin material market is used in fighter jet engines, exterior bodies, nozzles, air defense systems, blades and propellers, leading edges for fire-resistant material, and hypersonic missiles, for submarine propulsion compartments.
Maintenance of High Standards
To meet current and future demanding standards, this sector needs additional products on a daily basis. Portfolio optimization is crucial in the high-temperature composite material business to maintain high competitiveness and satisfying composite end customers.
Use of Ceramics
The entire size of the aerospace and military sector will grow due to a significant increase in focus on high composites fighter jets like the F-35. The product is increasingly being used in interiors, engine parts, missiles, aircraft external structures, and satellites, among other applications. This is due to an increasing demand for ultra-high-temperature materials, that mean cutting long-haul flight times in half. The growing number of research efforts to encourage use of such ceramics in aerospace.
Performance of Polymer Material
Polymer-reinforced high-temperature material is preferred over metal-reinforced high-temperature material because it performs better under fatigue and is lighter. Polymer is thermally and oxidative stable, meaning it can endure high-temperature combustion without breaking molecular bonds. Because of its exceptional resilience to smoke, fire, and high temperatures, it is a fantastic choice for airline and automobile interior the exceptional features of high-temperature composite materials, the industry is growing.
Demand in the Defence
The growing need for ceramic matrix composite materials in the aerospace and military industries, they currently account for the vast bulk of the market. Piston chamber wall bearings, brake discs, and cylinder sleeves are all made of high-temperature ceramic. Ceramic matrix composite materials are becoming more popular as their applicability in petrochemical and nuclear irradiation and inertial confinement fusion expand. Due to qualities such as low weight, decreased fuel consumption, less nitrogen oxide emission, and reduced noise, the aerospace and defence sectors have been driving the development of high-temperature composite materials.
Demand in Automotive Industry
The fire, smokes and toxicity (FST) compliance and weight reduction, polymer matrix composite materials are becoming more popular in the automotive sector. Due to the growing popularity of new light passenger trains, the demand for high polymers matrix composite materials is also growing. The principal elements driving their demand in the transportation industry, primarily in North America and Europe, are health, safety, and environment (HSE) laws for hazardous smoke emission levels. The market is driven by strict safety regulations in public transportation and increased demand for less density and high composite materials in the aerospace and military, transportation, and energy and power industries.
North America to Dominate the Market
The market for high-temperature composite materials in North America is predicted to increase at the fastest rate. Infrastructure development, investment by high-temperature composite materials producers, and capacity expansions by various key players are just a few of the reasons driving the market in this area forward. In North America, the United States dominated the market for high-temperature composite materials. Due to expansion in the aerospace & defence and transportation industries, the consumption of high-temperature composites has risen exponentially.
Insight of COVID-19
The global economy was slowed by the COVID-19 pandemic, which posed unprecedented problems to a variety of industrial sectors around the world. The pandemic has disrupted the supply chain, notably in terms of raw ingredients for the production of high-temperature composite material products. Several sectors of the economy have suspended operations as a consequence of the pandemic, resulting in a decline in market growth. The high-temperature composite material business felt the brunt of the crisis, with demand for the product stalling in the aerospace & defense, electrical & electronics, automotive, building and construction sectors, among others. MRI and surgical target devices, C scanners, tables, X-ray couches, and equipment all used modern composite fully compatible despite the epidemic.
Global High-Temperature Composite Material Market Scope:
Hearth – A Substitute of Aging Space Heating Equipment
Thought ArticlesThe hearth market is was valued at US$4.070 billion in 2019 and will increase to US$5.367 billion by 2026. Over the forecast period, this market is estimated to increase at a compound yearly growth rate of 4.03%.
A hearth is a brick or stone-lined fireplace, with or without an oven, which is used for both heating and cooking meals. It has long been an important component of a family’s life, and it was typically the most important and central aspect of the home. It is a type of space heating appliance that warms the area in which it is situated in order to keep the user warm during cold weather.
The fact that hearths are becoming increasingly popular in and around homes as a way to combat bitterly cold weather is one of the prime reasons for the increase in the hearth market
People in cold regions, particularly during the winter, spend the majority of their time at home. As a result, it is critical for them to keep their homes warm and cozy. When compared to other space heating systems, a hearth is a convenient option for room heating because it helps to lower electricity bills. Due to the cold climatic conditions, heating devices are widely used in households and other indoor places throughout North America and Europe. Aside from heating rooms, the hearth is also widely used in cold regions for cooking and heating water for laundry and domestic use. Increasing demand for aesthetically beautiful fireplaces, the travel industry’s growth, the availability of multiple standards and customizable hearth design alternatives, and expanding use in non-residential applications like hotels, cafes, and restaurants are all driving this market’s growth. Furthermore, the replacement of ageing space heating equipment will create further potential chances for the hearth market to grow in the coming years.
Innovative products, partnerships, and agreements between key companies are a major trend in the market, and this trend is projected to bolster the hearth industry’s growth. For example, in July 2029, US Stove announced that they had reached an agreement with Anvil Canada to distribute US Stove and Acadia Hearth (a US Stove brand) goods throughout Canada’s speciality hearth sector.
Hearthstone Stoves debuted their first eco-friendly fireplace product, the TruHybrid stoves, in May of 2020, which burns cleanly and effectively both before and after the catalyst is engaged. Primary and secondary combustion are mixed, and a catalyst is used to remove any unburned smoke particles and gases.
High installation and maintenance costs of hearths, combined with stringent government regulations pertaining to environmental protection, may act as market restraints
The cost of the flue, vent, or chimney is included in the hearth installation cost. A gas fireplace necessitates the installation of a gas line. Wiring installation is required for an electric fireplace, and ongoing electricity expenditures are also included in the installation fee. The soot build-up in the wood-burning fireplace needs frequent cleaning. Technological advancements, government regulations, environmental standards, and stringent testing and approval requirements can all add to the length of the manufacturing cycle, as well as the cost of bringing a product to market. These difficulties may function as a stumbling block to the global expansion of the hearth market. In addition, for years, the US Department of Energy (DOE) has considered federal regulation of gas fireplace appliances. While the bill specifically seeks to prohibit continuously pilot lights on all vented gas fireplaces, stoves, and inserts, federal regulation of these appliances would necessitate DOE imposing increasingly stringent regulatory requirements over time. Because there are fewer affordable home heating options available, price-conscious consumers will be unable to replace their existing appliances with newer EPA-certified models.
Analysts are forecasting that electric hearths will have a dominant share in the forecast period as they provide benefits such as effective space heating and reduced emissions
By fuel type, the hearth market can be segmented into Wood, Gas, Electricity, and Pellet. Electric fireplaces are less harmful to the environment. In addition, they are more efficient and need less maintenance and installation, resulting in increased demand among the various hearth fuel types. Electric hearths are commonly used in institutional, hospitality, and other commercial settings in modern hearth technology. Electric Hearths are preferred over other fuel-type hearths because of their environmentally friendly nature. They provide a sustainable energy source as well as a traditional heating medium for domestic and commercial use.
By product type, the hearth market can be divided into insert, fireplace, and stove. Because the insert category can be readily transformed into a comfortable and efficient heater to transform inefficient, drained, or zero clearance fireplaces, it is predicted to have a considerable part of the market.
Residential, Institutional, Commercial, and Hospitality are the end-user segments of the market. Due to its home-decorating feature, analysts believe that the residential segment will dominate the hearth market. The addition of a modern fireplace, such as an electric hearth, improves the visual attractiveness of a home. The eco-friendly aspect of an electric hearth attracts more consumers, boosting its market. Historic hearth installation in various residents, on the other hand, provides traditional texture and a sense of economic stability through the use of wood-type hearths. Due to the lack of electricity in cold weather regions such as Greenland, the majority of the population have constructed traditional hearths primarily made of wood. This also helps the home market for wood-burning fireplaces.
During the forecast period, the hearth markets in North America and Europe are predicted to have a dominating share
North America is predicted to increase significantly, owing to the United States, Greenland, northern Canada, and other countries having the greatest installed hearth for commercial and residential end-use, which includes both modern and traditional hearths. The high adoption of electric and gas fireplaces, as well as the rapid acceptance of alternative fuel-based hearths, such as pellet-based hearths, can be ascribed to the enormous market size for hearths in the United States. The increasing desire for contemporary style hearth designs among consumers is driving the rapid expansion of the hearth market in Canada. These improvements are projected to propel the hearth market in the region to new heights. North America is closely followed by Europe, which is predicted to hold a significant position in the global hearth market due to the region’s exponential expansion due to an increase in the usage of various types of heating appliances in homes as a result of the region’s extreme cold weather. As a result of the cold environment and people’s increased interest in hearth goods for home design, the worldwide hearth market is growing.
COVID-19 Insights
The hearth market has taken a hit as a result of the coronavirus pandemic’s detrimental consequences. Governments all over the world have instituted nationwide lockdowns, causing drastic changes in consumer purchasing. People are now hesitant to spend more money on non-essential items, which has reduced demand for hearths around the world. Furthermore, a halt in the construction industry’s operations reduced market demand. Travel restrictions imposed to limit the virus’s spread have resulted in fewer tourists traveling between nations and within the country. The hearth market shrank even further as hotels and restaurants closed their doors.
Hearth Market Scope:
Mastering Power Conversion: The Science Behind AC-DC Converters
Thought ArticlesThe basic difference between AC and DC is that the alternating current that goes into the converter alternates the direction of the current periodically in the form of a sine wave whereas the direct current flows constantly in one direction. Therefore, a rectifier or an AC-DC converter is a device that can convert alternating current into direct current and is an important device that can be used in several consumer electronic devices like computers, smartphones, and household appliances where these electronic devices need to convert the current to DC power using the converter and then operate smoothly.
The converter rectifies the AC voltage to produce a pulsating DC output and then using filtering components like capacitors it provides a more stable DC output. There are different types of AC-DC converters available such as full-wave rectifiers that convert both halves of the AC input waveform into DC, half-wave rectifiers that convert both halves of the AC input waveform into DC, Bridge rectifiers, and Switch-mode power supplies or SMPS. These converters play a major role in powering a wide range of electronic devices, from small gadgets to large industrial machinery.
Global Production Trends
The production of AC-DC converters is growing with the rise in demand for consumer electronics and the increase in penetration of electronic devices in the day-to-day lives of consumers around the globe. These electronic devices are becoming more important daily in the consumer’s daily life therefore, with the increasing digitization of various sectors and the growth in demand for electronic devices the demand for AC-DC converters to power these devices is growing proportionally.
In recent years, there has been a notable increase in the promotion and awareness of energy efficiency and sustainable alternatives across the globe to reduce carbon footprint and switch over to energy-efficient alternatives. Hence, energy efficiency has become a major focus in the manufacturing and design of AC-DC converters to reduce energy consumption, meet regulatory standards, and minimize heat dissipation.
As AC-DC converters are contributing to making energy-efficient alternatives they are also being used in powering renewable energy sources like solar and wind power and this is raising the production rate of AC-DC converters as they are an essential part of the smooth operation of renewable energy resources. They are used in grid-tied inverters and power conditioning units which convert the variable DC output from renewable energy sources into usable AC power for the grid.
The rapid growth in technological advancements of the AC-DC converter is positively impacting and growing the global production trend for them. For instance, the integration of wide-bandgap semiconductors such as silicon carbide or gallium nitride helps to improve the performance and efficiency of AC-DC converters which leads to compact designs, higher switching frequencies, and reduced losses. Also, the growing focus on reliability and quality as manufacturers are investing in robust design methodologies and a shift towards smart and connected devices that focus on features such as remote monitoring, diagnostic capabilities, and compatibility with IoT platforms are contributing to increasing the AC-DC converter production trends across the globe.
AC-DC converter use case
The AC-DC converter has several use cases that are boosting their production and market around the globe. These use cases include consumer electronics like laptops, gaming consoles, TVs, and tablets for powering them, the growing use of smartphones in the daily life of consumers is increasing the need for AC-DC converters proportionally as they are found in chargers or adapters and power supplies which helps in converting AC mains power to the DC voltage required by the electronic device.
The AC-DC converter is used in industrial automation where it provides power to several electrical components such as sensors and motors and in the telecommunication industry where the infrastructure and the powering equipment such as base stations and telecom towers use AC-DC converters for converting the current according to the device needs.
Moreover, they play an important role in renewable energy systems such as solar energy and wind turbines which can convert the DC power that is generated by solar panels or wind turbines into AC power to operate the facility smoothly coupled with the growing adoption of EVs that needs an AC-DC converter in EV charging stations to convert AC power from there to DC power that is suitable for charging EV batteries.
The data centers present globally need AC-DC converters to provide efficient and stable power output to the servers and the converter powers various medical devices including diagnostic instruments and surgical tools which are necessary for saving a patient’s life, in the aerospace industry they provide regulated power supply to face the harsh operating environments.
The rapidly growing EV infrastructure for charging stations is anticipated to be a major factor contributing to the growth in the growing demand for AC-DC converters globally. For instance, the US government is making significant investments to improve the EV charging infrastructure.
Table 1: Investments for EV Charging by the US Department of Energy
Market Dynamics and Drivers
Several factors drive the AC-DC converter market, including a rise in the application of AC-DC converters in several consumer electronics like smartphones, laptops, and refrigerators in recent times coupled with the rise in demand for data centers with the growing amount of global data has contributed significantly to boosting the AC-DC converter market.
These data centers need efficient operation of several different IT infrastructures or enterprises and these converters provide efficient and stable power to servers, networking equipment, storage systems, and cooling infrastructure for the smooth operation of the data centers. Also, they play an important role in providing medical devices with a reliable power source and these devices are growing in demand and are anticipated to contribute to growing the AC-DC converter market in the forecast period.
Additionally, the increasing demand for energy-efficient solutions, expansion of renewable energy infrastructure, advancements in power electronics technology, growing adoption of electric vehicles, and increasing investment in infrastructure development powering critical infrastructure components and supporting economic growth using the converter are the factors that are predicted to propel the market growth as they have a significant use for AC-DC converter for proper functioning.
The AC-DC convert plays a crucial role in the proper functioning of data centers and with the growth in the development of data centers the demand for AC-DC converters will rise proportionally. For instance, the USA has the largest amount of data centers across the globe which is over 2,600. This includes data centers in Dallas with the highest number of data centers which is 149 followed by the Bay Area with 147 data centers as stated by USITC.
Figure 1: States With the Most Number of Data Centers in the USA
Source: usitc.gov
Challenges and Constraints
Despite the huge advantages and use cases of AC-DC converter the companies that manufacture them face a lot of challenges with significant improvements being made in AC-DC converter technologies and keep up with that improving technology and increasing complexity. Also, meeting stringent regulatory standards for energy efficiency, cost burdens in the electronics industry, component shortages, supply chain disruptions, and high-power densities and switching frequencies in AC-DC converters that result in significant heat generation are anticipated to hinder the AC-DC converter market growth over the forecast period.
Emerging Opportunities and Innovations
Although challenges might hamper the market, the AC-DC converter market presents numerous opportunities for innovation and growth. Advances in its applications across various industries like aerospace, electronics, automotive, and energy are the major reason for that. Also, the adoption of wide-bandgap materials such as silicon carbide and gallium nitride in power semiconductor devices, integration of digital control techniques, and integration of GaN-based power devices, gate drivers, and passive components into compact power modules that offer higher power density are some innovations that are predicted to positively affect AC-DC converter market.
Key Developments
At last, concluding that the AC-DC converter market is predicted to have several innovations and growth opportunities over the forecast period. The market is driven by the increasing popularity of electric vehicles coupled with consumer electronics and applications across various industries like growing data centers and renewable energy. There are several challenges to be faced such as growing advancements in technologies and reducing power consumption of AC-DC converters to make them energy efficient. Therefore, the industry is anticipated to capitalize on technological advancements and innovations to meet the needs of a growing global demand for AC-DC converters.
Pet Monitoring Camera Market size worth US$160.914 million by 2029
Press ReleasesThe pet monitoring camera market is projected to expand at a compound annual growth rate of 7.95%, with the market size anticipated to increase from US$94.218 million in 2022 to US$160.914 million in 2029.
The market of pet monitoring cameras is significantly impacted favourably by growing technological advancement.
As per the report, the market for pet monitoring camera is anticipated to grow during the forecast period.
A pet surveillance camera, commonly referred to as a pet cam, is a compressed electronic device tat feed the real time visual view of its environment. The cameras can be accessed on various electronic devices like smartphones, tablet, and laptop. Which enables the pet owners to watch their pet activities from remote locations at any time. The growing demand of pet cams is due to their flexibility and convenience for pet owners to watch their dog activity.
Increased prevalence of advanced technology is a major driving force behind the growth of the pet monitoring camera market. For instance, GNCC K1 pro is a compact camera having a features like high resolution picture capturing of pets. As the product is equipped with advanced sensors to provide high quality image feeds and have the ability to observe the pet in reduced – light conditions. Furthermore, the product is also offered with night vision feature with uncooled infrared imaging technology for a clear visuals at night. The product is cost efficient and flexible solutions for pet owner.
The pet monitoring camera market has been categorized based on video functionality, end-user, and distribution channel.
As per the category, the market has been classified into one-way functionality (audio or video), two-way functionality (audio or video). Pet monitoring devices is beneficial when it provides the audio and video features in it. As the two-way functionality is preferred one as it enables the users to listen and watch the live feeds from distant place. By enabling audio system owner can manipulate their dogs by commanding over the camera with visual feeds.
Based on end-user, the market has been classified into pet owners, veterinary care. Pet cameras are good for both pet owners and veterinary care providers. For pet owners these devices enhance the interactions with their dogs and help them to communicate and make them feel their presence from distant place. Whereas veterinarians can get the benefit of these cameras to evaluate the behavior aspects of the dogs form distant place for treatment purposes.
The market has been categorized into online and offline based on distribution channels. Online users can access live streams, receive alerts on pet activity, and remotely interact with their pets.
By region, North America is anticipated to account for a significant share of the pet monitoring camera market due to the growing pet owners in the region, increased disposable income which in return people will invest on these technologies to overwatch their pets, and an increased frequency on pet welfare are driving the demand. The evolution in technology and innovative products with unique features like two-way audio video features and precise night vision enables the pet owners to but these products in the region.
As a part of the report, Furbo, Pet Product Innovations, LLC (PetChatz LLC), Petcube Inc, Wyze Labs, Inc, HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO., LTD. (EZVIZ Inc.), Xiaomi Inc., SigmaTron International (Wagz Inc.), Zmodo Technology Corp. Ltd, PETKIT Ltd., Vimtag Technology Co LTD. are the major players in the pet monitoring camera market.
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This pet monitoring camera market has been analyzed into the following segments:
Augmenting Industrial Superpower Through the Lens of Metrology
Thought ArticlesThe industrial metrology market is predicted to grow at a compound annual growth rate (CAGR) of 5.20% to attain a market size of US$15.117 billion by the end of the analysis period, 2026.
Industrial Metrology is widely applied across industrial sectors of aerospace, automotive, healthcare, power, construction, energy, electronics, defense, etc. to provide accuracy and ensure quality in the manufacturing processes in the industry. Metrology means “the science of measurement” that uses products like video measuring machines, 2d products, X-rays, Automated Optical Inspection, Coordinate Measuring Machine, Optical Digitalizer, and Scanner, etc. in the processes. The increasing automation across various sectors and the growing need to adopt accurate measuring tools is the major driving factor behind the market.
Products Used in Industrial Metrology:
Industrial Metrology uses products like video measuring machines, 2d products, X-rays, Automated Optical Inspection, Coordinate Measuring Machine, Optical Digitalizer, and Scanner, etc. Video Measuring Machines are optical devices that are used in both 2d and 3d measurements and consist of both hardware and software to measure a wide range of applications by combining software and high-resolution images. Coordinate Measuring Machines (CMM) uses various types of probes like optical, laser, mechanical, etc. that sense the discrete points on the surface of an object to measure its geometry. Digitizers and Scanners are used to scan an image or an object through a laser that later helps in their reconstruction. X-rays are mostly used in healthcare sectors that use electromagnetic waves to generate pictures of our inner body. Microscopes are optical devices that are used to examine tiny objects that are too difficult to be captured by naked eyes. AOI or Automated Optical Inspection uses a camera to scan a device to detect any quality defect or failure inside it. Besides that, Industrial Metrology also applies large volume inspections, CT Inspections, White Light Interferometric Microscope Systems, etc.
Developing Industrialization and Regional Trends:
The major contributing factor to the growth of the industrial metrology market is the rapid industrialization and growing infrastructure across the globe. Technological advancement and increasing automation have generated a need to apply industrial metrology in almost every sector of the economy from automation to aerospace, power, oil, mining, chemical, healthcare, construction, electronics, etc. The industrial revolution in the developing economies of the Asia-Pacific region like China, India, etc. is expected to witness major growth in the coming years which will drive the industrial metrology market in the coming years. This growth will be attributed to the growing infrastructure development along with the high Foreign Direct Investment in the region. For instance, recently India announced its largest project in the manufacturing sector. According to the Odisha government, ArcelorMittal Nippon Steel is going to invest over ?1 lakh crore in Kendrapara, Odisha, to set up a 24 mtpa (million tonnes per annum) integrated steel plant. Besides that, the plant will churn out 18.75 MT of cement annually, which will make it one of the biggest cement manufacturing facilities in the country.
Besides that, North America and Europe are expected to hold a significant market share in industrial metrology due to the developed infrastructure in the region along with the advanced application of the technology in the region. For instance, Porsche and Ericsson have partnered up to initiate a project on leveraging the power of 5G to accelerate production capabilities at Porsche’s manufacturing production in Germany.
Artificial Development to Hold a Bright Scope of Development:
The industrial metrology market’s development is largely based on the technological advancement in the sector which acts as a backbone of the industry. Artificial Intelligence and the Internet of Things powered by a high degree of research and development and investment in the sector are expected to boost up the market in the coming years. Besides that, the growing need for data analytics tools to analyze a large amount of data is also expected to play a key role in market development. Some of the recent developments and investments by the companies like Hexagon, Lincoln Electric Additive Solutions, PFW Aerospace, etc. are prominent examples of it. For instance, Hexagon introduced Cloud-native CNC machine-tool asset management that enables global manufacturers to analyze machine fleet utilization across multiple plants. Besides that, Lincoln Electric Additive Solutions has worked towards the problem of heavy and large pieces of equipment and has therefore pioneered 3D printing and scanning.
The role of 3D Metrology in Industrial Metrology is also very significant. 3D metrology is a method that precisely studies an object based on its physical measurement and tries to capture its accurate 3d system. The wide application of 3d metrology requires optical measurement and thus it holds a great opportunity for the growth of the market. 3D Metrology is being widely adopted in the areas of automotive, defense and aerospace, medical, electronics, and construction.
Price Volatility to Pave Hurdles in the Growth of the Market:
Price is one of the restraints for the Industrial Metrology market growth mainly because not all metrology equipment are easy to adopt, operate, and install in the facilities. Price volatility associated with the measurement equipment makes the device price-sensitive as their price depends upon the other technical tools that go into their manufacturing. Besides that, the role of labor handling cost is something to consider in the market growth. The lack of technically trained personnel and expertise in the field can restrict the growth of the market not just in some sectors but in low developing economies as well. This is because metrology requires trained and qualified personnel to install, monitor, and configure the measurement equipment thoroughly.
Coronavirus Pandemic Analysis:
The analysis report also provides a deep study about the impact of the coronavirus on market for industrial metrology market, stating how the lockdown, lack of labor, stringent curfew regulations by the government, export barriers, deeply affected every industry including automotive, semiconductor, defense, aerospace, power and energy, chemical and manufacturing, etc. With the shutting down of industries and halt of operations across the globe, the industrial metrology market witnessed a surge.
Video Games and Virtual Cinematography Foster the Growth of 3D Scanners
BlogThe 3D Scanner Market was valued at US$1.219 billion in 2020 and is expected to grow at a CAGR of 13.84 % to reach a market size of US$3.019 billion in 2027.
Using 3D scanning enables recording an object’s three-dimensional characteristics as well as small details like colour and texture. Through the use of this technology, the manufacturing process may be made to take less time, money, and effort while producing goods more effectively. Companies now have a strategic advantage owing to 3D scanners, which have become an essential technique for speeding up product production and processing. The variety of uses for this technology has been expanded by continuous technological advancements with regard to portability, scanning volume, and image quality. With the use of software, 3D models of the scanned objects are produced by using point clouds, which are created by 3D scanners using lasers, light, or x-rays to capture the dimensions of real-world objects. 3D scanners have proven to be effective tools in a variety of industries, including manufacturing, security and aerospace , media and entertainment , automotive, healthcare, and more.
The need for 3D scanners is significantly growing all over the world due to the increasing use of reverse engineering services in a variety of industrial verticals, including manufacturing, automotive, aerospace, and defence. The need for 3D scanners for scanning bodies and faces for security monitoring at airports and other public areas has increased as a result of an increase in terrorist attacks. In the upcoming years, it is anticipated that factors including technological improvement and the creation of handheld 3D scanners will increase the market for 3D scanners worldwide. Additionally, the growing need for whole-body scanners to gain deep insights into medical issues will fuel the development of the 3D scanner market in the healthcare industry. The expansion of 3D scanning has also been linked, concurrently, to the reduction in the price of 3D scanners.
Digital Models are Created Using 3D Scanners for Virtual Cinematography and Video Games.
In the entertainment and media industry, 3D scanners are used to build digital or 3D models for video games and virtual filmmaking. Real objects, including performers, are scanned rather than creating 3D models from scratch. Designers can quickly produce costumes and props using 3D scanners and computer-aided design (CAD) software. In the gaming industry, scanning is used to look at people, items, and the environment in order to gamify simulations and produce realistic outcomes. The majority of game producers have begun using 3D scanning to build gaming characters in an effort to improve the user experience for users.
The use of 3D laser scanning to create the game’s content addresses some particularly difficult problems. The creation of bodies and faces for the game is one of those challenges. The application may take an unnecessary amount of time to make it appear realistic. And even after investing all that time, things may go wrong. The task may be completed quickly and easily with 3D laser scanning, which can capture the facial features precisely. For instance, a gaming console, Sony’s Playstation 2, uses 3D scanning. The players for the Sony Computer Entertainment video game American Major League Baseball were created using 3D laser scanning. They scanned roughly 1400 players to make the game more realistic, but given that each scan only took about 90 seconds per individual, the job was completed faster.
Key market developments
Advanced expansion activities, research and development, market investments, and new product launches will thereby increase the demand for 3D Scanners. For instance,
The North American region is expected to hold a significant share of the market in the coming years.
Due to the expanding usage of scanning across a variety of industries, including manufacturing, automotive, healthcare, and entertainment, the North American region is expected to hold a significant share in the market. In terms of revenue, North America will maintain its position as the global leader. Regional development is anticipated to be boosted in the upcoming years by rising R&D spending, widespread adoption of technology in the automobile industry, and environmental scanning and modelling operations. Additionally, 3D scanning opens up a world of opportunity for artists of all kinds, enabling them to bring their most extraordinary works to reality. The technique advances the film and video game industries; without 3D scanning, several stunts and special effects would have been challenging to execute. The increased focus firms are placing on 3D printing and 3D machine vision is also one of the elements driving the growth of the North American industry.
3D Scanner Market Scope:
Increased Launches of Extensive and Diverse Products by Companies in the Servo Motors and Drivers Market
Thought ArticlesThe servo motors and drives market is expected to grow at a compound annual growth rate of 6.01% over the period 2020 to 2027.
A servo drive works by receiving a control signal from the system, amplifying, and transmitting the electric charge to a servo motor, which generates motion proportional to the control system. The command signal typically reflects the needed velocity, although it can alternatively represent the intended position or torque. A sensor linked to the servo motor informs the servo drive about the motor’s state. The servo drive compares the actual motor state to the requested motor status. The growing need for energy-efficient solutions, as well as technological improvement, are fueling the growth of this market. These motors and drives aid in increasing the capacity of sectors such as semiconductors, automotive, and packing, among others.
Furthermore, factors such as growing automation in production, a focus on productivity, high accuracy, and ease of maintenance, among others, are driving the market. When compared to other motor types, servo motors and drives are ideal for Industry 4.0 industrial systems because they enable more accuracy and control over activities. Therefore, all these factors will positively influence the servo motors and drivers market.
Mitsubishi Electric Corporation, Danaher Corporation, FANUC (Acquired by Life Robotics), Siemens AG, Galil Motion Control, Yaskawa Electric Corporation, Bosch Rexroth, ABB Ltd, and others are a few key major players in the market of Screenless Displays.
Mitsubishi Electric Corporation, founded on January 15, 1921, is a Japanese multinational electrical and electronic equipment manufacturer based in Tokyo, Japan. It is one of Mitsubishi’s primary businesses. The company had a broad range of servo motors and rivers product offerings which enables the company to be one of the largest providers and suppliers in the market segment. Due to the diverse application and unique features, the company majorly contributes to the profitability of the servo motors and rivers market. For instance, Melservo is a product line that includes amplifiers and motors. The MELSERVO-J5 series is now compatible with a new channel, CC-Link IE TSN. Optical communication SSCNET III/H-compatible servo amplifiers are available in addition to standard interface-compatible servo amplifiers. Servo amplifiers have a high level of responsibility and a fast resonant frequency of 3.5 kHz, which reduces the cycle time of manufacturing machines. Furthermore, the MELSERVO-JET size is usually a servo amplifier with a more powerful control engine. These servo amplifiers may be linked to the CC-Link IE TSN to provide high-speed, precise control.
Siemens AG is a German multinational corporation firm based in Munich and the greatest industrial manufacturing enterprise in Europe, with branch offices across the world. Siemens announced the addition of additional servo motors to its renowned Sinamics S210 mono cable servo drive system in April 2022, increasing its range of applications. The business is releasing the Simotics S-1FS2, a motorized version with a steel housing, the maximum degree of shielding IP67/IP69, and elevated 22-bit absolute con?gurations encoders, specifically for use in the medical and food sectors. As a result, the servo motor fulfills all sanitary requirements and may be used for combining and mixing, air conditioning and ventilation, dosing and filling, as well as transporting, packing, and storing a wide range of end products in the food and beverage industry and the pharmaceutical business.
Yaskawa Electric Corporation manufactures servos, motor controllers, AC adjustable speed drives, switches, and industrial robots in Japan. Motoman industrial robots are utilized in welding, packing, assembling, painting, cutting, material handling, and general automation. In March 2021, Yaskawa Electric Corporation announced the launch of the AC servo drives “-X Series,” the successor to the renowned “-7 Series.” By strengthening the ability to follow orders and assuring stable operation, the speed response frequency, which is an essential evaluation indicator for servo drives, has reached 3.5 kHz as the world’s highest level, resulting in increased productivity. The servomotor’s maximum speed is 7000 revolutions per minute, which increases the device’s driving speed, shortens the tact-time, and improves productivity. Furthermore, Yaskawa Electric Corporation announced the release of a new clean robot for semiconductor wafer transfer, the “SEMISTAR-GEKKO MD124D,” in May 2020, with a direct drive motor from Yaskawa’s AC servo motor “-7 series.” The robot transfers semiconductor wafers with more accuracy and less vibration than the traditional type.
Servo Motors And Drives Market Scope:
Automotive Testing Inspection and Certification – Safety of Vehicles and Consumers
Thought ArticlesThe global Automotive Testing Inspection and Certification market was valued at US$25.582 billion in 2022 and will increase to US$34.317 billion by 2029. Over the forecast period, this market is estimated to increase at a compound yearly growth rate of 4.92%.
Testing, Inspection, and Certification, abbreviated as TIC, is an independent sector that offers an array of conformity assessment services, including testing, validation, conformity declaration, and many others. TIC segment caters to a wide range of industry segments across the globe, including automotive. The objective of the council is to evaluate the goods in compliance with the safety of people and the environment. The council performs quality and safety controls via multiple conformity assessments, including industrial site inspections, management system auditing and certification, product testing, supply chain certifications, pre-shipment inspection, and others. Third-party TIC is a low-cost conformity assessment process that promotes higher compliance levels. It helps government agencies enhance efficiencies and exploit finite market surveillance resources, ensuring more consumer protection with safer products. It also aids manufacturers in lowering internal compliance costs and more effectively navigating global market regulations. Because it ensures that products are safe, secure, effective, trustworthy, of high quality, and sustainable, the TIC industry is a major contributor to the global economy and the quality of daily life throughout the world. The TIC Council aims to engage governments and key stakeholders in advocating for effective solutions that safeguard the public, promote innovation, and ease commerce. Automotive Testing Inspection and Certification Markets are bifurcated by service, sourcing, application, and geography.
During the projected period, the increasing demand for automobiles and increasing advancements in the industry are bound to propel the automotive testing inspection and certification market.
The increasing penetration of automobiles globally has propelled the automobile market size. According to European Automobile Manufacturers’ Association, in 2021, about 79.1 million motor vehicles were produced globally, a 1.3% growth rate when compared with the former year. According to statistics, production is steadily rising in the developed and developing countries alike. In South Asia, and the Middle East and Africa, for instance, the production of automobiles increased by 15.6% and 10.0%, respectively, in 2021 compared to 2020. The emergence of electric vehicles and smart vehicles owing to the advancing technologies, like the Internet of Things, are further increasing the market size. Furthermore, the increasingly stringent government policies for vehicle standards and safety are causing multiple companies to outsource Testing Inspection and Certification services. Consumers are also becoming aware of the safety and quality of the products. TIC helps consumers by providing safer, high-quality, and consistently reliable products while being true to the brands’ advertising claims. A failure of a component of a product can incur huge dissatisfaction from the consumers and financial loss in investments. TIC services help businesses attain long-term and medium-term savings by providing independent conformity assessment services and enables market access and market entry while increasing the trade volume. Furthermore, the increasing enforcement of laws for the vehicles to undergo Periodic Technical inspections of the vehicles is further expected to boost the Automotive TIC market.
During the forecast period, Asia Pacific is likely to occupy a dominant share of the global automotive testing inspection and certification market.
By geography, the automobile testing inspection and certification market is segmented into Asia Pacific, Europe, North America, South America, and the Middle East and Africa. The significant growth in the Asia Pacific region is attributed to the increasing demand for automobiles in the region. According to Organisation Internationale des Constructeurs d’Automobiles, OICA, Asia Pacific accounted for the production of 46,732,785 motor vehicles of 80,145,988 motor vehicles produced globally. China, Japan, India, and South Korea are the major countries dominating the market in the region, owing to the developing economies, surging per capita income, and increasing demand for automobiles in the said nations. For instance, according to the China Association of Automobile Manufacturers, China alone accounted for 26,082,220 units of motor vehicles produced in the region. While Japan, India, and South Korea produced 7,846,955, 4,399,112, and 3,462,404 motor vehicle units, respectively, in 2021. Furthermore, government initiatives like Make in India, and Make in China are further boosting the market, coupled with the strategic developments deployed by the automobile giants in the region. For instance, in September 2021, the government of India announced a notification stating a Postal Life Insurance Scheme for automobile components worth US$ 3.49 billion. Several of the factors mentioned above are expected to add impetus to the market’s growth in the region.
According to Analysts, differing standards and regulations for testing inspection, and certification across multiple regions are anticipated to restrain the market growth.
The different regional standards and policies are bound to create challenges for the acceptability and penetration of the products in the international market. The various policies and standards lead to different tax rates in foreign markets, thereby affecting the pricing and market growth in the region. According to European Automobile Manufacturers, for instance, countries like the US, UK, Japan, China, Russia, and South Korea have their own unique taxation framework in addition to VAT. Japan, for instance, Japan imposes a tonnage tax based on the weight of vehicles, along with a 10% consumption tax and an environmental performance charge. The VAT rate in the United Kingdom is 20%. Automobiles are also subjected to ownership taxes as well as an excise based on carbon emissions. Similarly, Russia also levies excise taxes based upon the horsepower of a vehicle along with the 20% VAT. And the value of excise taxes increases with the increase in horsepower. At the same time, the South Korean government charges a 5% consumption tax on the factor price and up to 7% acquisition tax in addition to the 10% VAT. Similar instances of conflict between international and local standards might hinder the market’s growth.
Covid-19 Insights
The global pandemic had a negative influence on the automotive testing inspection and certification market. The mandated lockdown and social-distance measures enforced by multiple governments across the globe have resulted in the shut down of various production facilities, either partially or wholly. The exponential influx of the infected cases further reduced the workforce, severely impacting the productivity of several enterprises. For instance, according to the EU Member States, in Europe, all the automobile production facilities were completed closed for about 30 days on average. In countries like Italy, the closure lasted for as long as thirty days. Consequently, the automobile segment saw about 3.6 million vehicle production losses in the course of the first half of 2020, and by September, the demand for cars had dropped by 28.8%. Subsequently, the TCI service providers, too, suffered from the closure of factories and a lack of workforce. The closure of borders by several nations affected the supply chain network, further slowing down the market.
Automotive Testing Inspection And Certification Market Scope:
Antimicrobial Coatings and Its Impact on Healthcare
Thought ArticlesThe antimicrobial coatings market is was valued at US$4.020 billion in 2019 and will increase to US$8.914 billion by 2026. Over the forecast period, this market is estimated to increase at a compound yearly growth rate of 12.05%.
Antimicrobial coatings are used to protect surfaces from microorganisms such as parasites, germs, bacteria, and other harmful microbes. Active and passive antimicrobial coatings are the two types of antimicrobial coatings. Passive antimicrobial coatings resist bacterial adhesion by killing germs after contact, whereas active antimicrobial coatings release antibacterial agents such as bioactive compounds and medicines. Surface coating of medical devices and equipment is one of their most common uses in the healthcare business. The antimicrobial coatings market is divided into three categories: substance, application, and region.
During the Forecast Period, Analysts Expect That the Healthcare Segment Will Dominate the Antimicrobial Coatings Market
One of the most common applications of antimicrobial coatings is in the healthcare industry. These coatings are commonly found on surgical devices and aid in the prevention of the spread of germs and pathogens among patients, surgeons, and caregivers. Active chemicals in the antimicrobial coatings prevent microbes from growing on a surface. This aids in the formation of a toxic or non-toxic barrier against harmful microbes. These can be tailored to create a toxic or non-toxic barrier against harmful microbes. Antimicrobial agents are being more widely used in medical applications as a result of this. Furthermore, the anti-microbial coatings’ triggering mechanism can be used to construct effective drug-delivery systems that turn on specific functionality. Anti-microbial coatings are used on bandages, surgical masks, wound dressing, gloves, and hospital textiles, in the healthcare industry.
In healthcare facilities, HAIs are the leading source of morbidity and mortality. Every year, roughly 1.7 million patients in the United States are contaminated with HAIs, according to the Office of Disease Prevention and Health Promotion Infections cost the lives of almost 100,000 people each year, and many more require medical treatment to recover. These HAIs are linked to the use of medical devices, either directly or indirectly. They usually happen during treatment operations like the injection of medical equipment into the body or a skin breach.
Several types of medical equipment serve as breeding grounds for bacteria, making it practically impossible to clean or disinfect them with traditional antibiotics. Several medical device makers and healthcare facilities have begun putting antimicrobial coatings to their equipment as a preventive step. The governments of European and North American countries have also channeled efforts to reduce HAIs in support of this.
The High Cost of Products, Lack of Skilled Labor, and No Evidence About Its Benefits Can Act as Restraints for the Growth of the Antimicrobial Coatings Market
Antimicrobial coatings are more costly than standard coatings. The price of a product has a great influence on consumer preferences in developing countries.
The benefits of antimicrobial coatings are not well-documented, which could impede the antimicrobial coatings market’s growth. The Centers for Disease Control and Prevention (CDC) in the United States has claimed that no proof has been found that antimicrobial coatings protect against bacteria and germs, and that thorough cleaning and hand-washing are the best strategies to avoid infection.
During the Forecast Period, the Silver-Based Category Is Likely to Occupy a Large Proportion of the Antimicrobial Coatings Market
Antimicrobial coatings are classified as silver, copper, titanium dioxide, and others based on their type. The silver segment’s dominant market position can be due to its excellent efficacy, low toxicity, long-lasting effect, and durability. It also doesn’t wash off, wear out, or leak out of the surface of the product. The rise in demand can also be linked to increased demand from the medical and healthcare, food and beverage, and other industrial sectors to guarantee worker safety and hygiene, as well as to prevent the spread of COVID-19 virus, bacteria, and other pathogens on frequently touched surfaces.
During the Forecast Period, the Antimicrobial Coatings Markets in North America Followed by the Asia Pacific Are Predicted to Have a Dominating Share
The region’s expansion has been fueled by continuous innovation in the healthcare business and increased production of processed foods. The availability of a large COVID-19 patient pool and significant investment in the healthcare system have also contributed to the rise. Furthermore, ongoing investments in the country’s healthcare sector will aid market expansion. In addition, because of the strict laws governing indoor air quality, HVAC system manufacturers are adding antimicrobial coatings on surfaces to assure the required air quality by limiting mold and bacteria growth.
The United States possesses one of the world’s most developed healthcare systems. The COVID-19 outbreak has resulted in a rise in healthcare investment in the country. As the country looks for measures to limit contamination in hospitals, this expense is projected to rise in the near future. The demand for antimicrobial-coated medical equipment is growing in the United States as a result of different government and hospital initiatives aimed at preventing nosocomial infections. The country’s demand for medical devices and products has been expanding due to an aging population and an increase in the number of people with chronic conditions including cardiovascular and diabetes. As a result, hospitals must take extra precautions in terms of hygiene and infection control, increasing the demand for and use of antimicrobial coatings in the healthcare business.
The Asia Pacific region is anticipated to witness substantial growth as per the analysts. The primary end-use sectors, including healthcare, construction, and food processing and packaging, are driving the market. The packaging products industry’s strong manufacturing base in China, Japan, and India, together with growing packaged food product sales, is expected to boost the market growth during the forecast period. Furthermore, favorable policies in India, such as Foreign Direct Investment (FDI) and Make in India, are predicted to provide abundant growth prospects for the food processing and healthcare industries, resulting in increased use of antimicrobial coatings in the region.
COVID-19 Insights
COVID-19 had a positive impact on the market in 2020. As a result of the pandemic, the use of anti-microbial coatings in medical equipment and devices, such as surgical masks, gloves, wound dressings, hospital fabrics, and surgical gadgets have increased dramatically in order to reduce the number of new COVID-19 cases. According to the Wall Street Journal, the overall production volume of N95 masks in the United States was around 45 million in January 2020 and reached around 180 million by the end of 2020, representing a 300 percent increase, which has boosted demand for anti-microbial coatings.
In April 2020, the Indian Institute of Technology (IIT) claimed that it has developed spray-based antimicrobial coatings for Personal Protective Equipment (PPE), such as face masks, which would kill 99.9% of bacteria and viruses.
Antimicrobial Coatings Market Scope: