The Photoelectric Sensor Market was valued at US$1.708 billion in 2022 and will increase to US$3.860 billion by 2029. Over the forecast period, this market is estimated to grow at a compound yearly growth rate of 10.23%.
A Photoelectric sensor is a proximity detector used to ascertain the distance, presence, or absence of the object with the aid of a light transmitter and photoelectric receiver built into it. The light transmitted by the sensor could be visible or infrared. The Photoelectric sensors are primarily available in three types: Through-beam, diffused, and retro-reflective. Depending on the type of sensor, both emitting and receiving elements are either housed in a single body or are separated into two bodies. Due to their versatile applications, Photoelectric sensors are being used in multiple industries, including Consumer Electronics, Semiconductors, Manufacturing, Packaging, Automotive, and others. Photoelectric Market is primarily segmented based on its types, end-user, and geography.
According to the Analysts, the demand for Photoelectric Sensor Market is expected to increase predominantly due to sensors’ applicability in multiple industries and growing industrial automation.
Photoelectric sensors offer a wide range of features, including long-distance sensing, fast response time, High resolution, easy adjustment, color identification, etc. A Through-beam photoelectric sensor, for example, can detect objects that are even 10 meters away, a feat impossible by other ultrasonic or magnetic sensors. Furthermore, as the speed of light is very fast, the sensors are able to respond at the swiftest speed possible. The advancement in technologies has further enabled them to be able to detect even objects of small sizes and detect precise positions. Moreover, as the sensors work on the principle of the amount of light reflected or interrupted by an object, they can detect any object, including wool, liquid, plastic, glass, etc., unlike proximity sensors which can detect only metals.
To optimize the operational processes and enhance accuracy, several industries—including pharmaceutical, food & beverages, packaging, and many others—are owing to their wide range of applications. For instance, a Photoelectric sensor can be used to count the number of products to detect the orientation or damages, if any, of the products on a production line. Furthermore, these sensors can even be used in smart parking lots to detect passing cars. These sensors are also installed in robotic trucks and pickers in the logistics industry for efficient and safe operations. The sensors not only possess a wide array of sensing ranges and longer serviceable life but are also economical. Thus, many industries are adopting photoelectric sensors into their operating systems to detect to enhance efficiency.
By type, the retro-reflective photoelectric sensors are expected to show significant growth during the forecasted period.
In Retro-reflective photoelectric sensors, the light emitter and receiver are usually housed in the same body. In contrast, a reflector is installed on the opposite side. In this, a light beam transmitter, usually a light-emitting diode, emits a light beam, which, when interrupted by any object, undergoes deviation. The reflector reflects the deviated light ray back to the light-sensitive receiver, which measures the intensity of deviation and detects the presence and orientation of the object. One of the positive attributes of these sensors is that they have simple wiring and an adjustable optical axis, making the device installation and configuration easy. Furthermore, as the light goes through an object twice, these sensors are optimal for sensing transparent articles. The main advantages of these sensors are that they are inexpensive when compared with Through-beam sensors and offer better sensing range and accuracy. The growing demand for these sensors in pharmaceutical and food manufacturing facilities is expected to fuel the market.
During the forecast period, the Photoelectric Sensors market in the Asia Pacific region is expected to have a dominant share.
Based on geography, the Global Photoelectric Sensors market is segmented into five regions: North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. The Asia Pacific is expected to hold a dominant share of the photoelectric sensor market. Among the countries presiding in the region, the photoelectric sensor market in India, China, Japan, and South Korea are expected to see significant growth, owing to the rapid development of automobile, semiconductors, and consumer electronics industries. For instance, according to OICA, of the 80,145,988 units of motor vehicles produced in 2021, 46,732,785 units were produced in the Asia Pacific region. About 50% percent of these units, that is 26,082,220 units, were produced by China, the largest automobile producing nation globally. At the same time, according to World Semiconductor Trade Statistics, of the US$ 555,893 million global sales produced in the semiconductor industry, the Asia Pacific region alone contributed to US$ 342,9667 million in sales in 2021. Furthermore, the emergence of Japan, China, South Korea, and Taiwan as the Big Four in the Asia Pacific, owing to the increasing strategic developments and investments in research and development, are fuelling the market growth. Thus, the increasing development of such industries in the region is bound to drive market growth in the Asia Pacific. The emergence of Industry 4.0, IoT, and their rapid adoption into several industries by governments and enterprises to increase efficiency are further expected to add impetus to the market growth.
Covid-19 Insights
COVID-19’s impact on Photoelectric Sensor Market is negative. The end-users of the Photoelectric Sensors Market are primarily packaging, semiconductors, consumer electronics, automotive, and manufacturing. The outbreak of the pandemic and mandated lockdown has led to the closure of many automobile and consumer electronic factories, either partially or completely. The increased infection rates had further affected the staffing in the industries, thereby reducing productivity. Subsequently, a number of investments and development plans were also put on hold and were postponed to a later time. The disruptions in demand and supply chains and volatile prices had negatively affected the market. In the automobile industry, for instance, the number of units produced in 2020 fell to 77,621,582 units from 92,175,805 in 2019 worldwide, according to the statistics derived by The Organisation Internationale des Constructeurs d’Automobiles, OICA. Overall, the year 2020 saw a decline of 15.8% in the production of motor vehicles globally. Subsequently, the demand for photoelectric sensors in the Automobile industry decreased during the pandemic. Nevertheless, with the economy’s recovery and several strategic developments deployed by the enterprises and governments to integrate industry 4.0 into multiple sectors, the demand for the photoelectric segment is expected to witness progressive growth in upcoming years.
Photoelectric Sensor Market Scope:
| Report Metric |
Details |
| Market Size Value in 2022 |
US$1.708 billion |
| Market Size Value in 2029 |
US$3.860 billion |
| Growth Rate |
CAGR of 10.23% from 2022 to 2029 |
| Study Period |
2019 to 2029 |
| Historical Data |
2019 to 2022 |
| Base Year |
2023 |
| Forecast Period |
2024 – 2029 |
| Forecast Unit (Value) |
USD Billion |
| Segments Covered |
|
| Companies Covered |
- Omron Corporation
- Pepperl+Fuchs
- Telco Sensors
- Sick AG (Sick Holding GmbH)
- Panasonic Corporation
- And more
|
| Regions Covered |
North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Customization Scope |
Free report customization with purchase |
Mobile Robots Market: Discover the Power of AI
Thought ArticlesThe global mobile robots market size is projected to grow at a CAGR of 15.34% to reach US$30.966 billion in 2026 from US$11.404 billion in 2019.
It has been observed a powerful rate in recent years and is forecast to exhibit fruitfully within the years to come back.
Mobile robots are non-stationary robots controlled by software’s which uses sensors and other technologies to perform tasks without any human intervention. These robots are a mixture of artificial intelligence and another robotic element which has made them a popular choice is various industry sectors like warehousing, logistics, defence, agriculture and health care, and medical.
The emergence of industry 4.0 in warehousing and logistics due to the increasing adoption of automation has been a propelling reason for the growth of this industry. The developments in industry 4.0 have created a link between the machine and its processing. Companies have been adopting mobile robots to save time, reduce costs and deliver better products to consumers. Moreover, the growing competition between industry giants have propelled the use of these robots in industry sectors.
One of the main drivers for the market growth includes its high demand of mobile robots in various industry sectors. For instance, the hospitality industry including clinics, pharmaceutical companies has been using these robots for moving healthcare materials and tracking patients’ health. SwissLog, a worldwide automation solution developer to the healthcare sector has been providing Robo couriers, Relay Autonomous Service robots and TransCar AGV to the healthcare sector for heavy-duty movement and patient care. The use of these robots has surged in the recent time in the healthcare sector due to transmission of virus from person to person. The use of mobile robots in the defence sector for surveillance purposes and combat scenarios. Developing nations have laid emphasis on the use of these robots for intelligent tracking and supply of defence equipment’s at war fronts as they provide an advantage at the ground level. Furthermore, the use of mobile robots in agricultural sectors has been gaining pace as it helps in crop data, weeding and collecting, harvesting etc. The adoption of mobile robots has not only improved efficiency but has also improved yields. Additionally, increasing human safety concern have forced companies to invest in mobile robots in the retail business
However, the high investment charges and the inability of these robots to sustain in adverse environments as these robots are programmed to function in a specific environment are the leading reasons hampering the growth of this market in the global arena.
The E-commerce Segment is Estimated to Own the Highest Market Share
Based on end-user, the market is metameric into military and defence, healthcare, travel and transport/logistics, media and entertainment, education and research and others. On the source of end-use, the e-commerce section procured the utmost revenue of the worldwide mobile robots market in 2019. The increasing demand of mobile robots from the e-commerce sector in the global market has been a prime driver of this industry.
Major companies have been eyeing over the acquisition of autonomous robot vendors for their warehouse operations. Amazon, a multinational technology company, has acquired US-based start-up Canvas technology in April 2019 to fulfill the automation of different aspects of e-commerce. Further, Shopify Inc., a Canadian multinational e-commerce company had acquired 6 River Systems Inc. Additionally, self-driving forklifts are widely used in various industry sectors involving the transportation of heavy goods to long distances. Linde Material Handling, a leading manufacturer of forklifts trucks has advanced in the technologies offering forklifts equipped with 3D cameras, acoustic and visual indicators, navigation layers. The technological advancements in the industry have led to the surge in the demand of these robots in various industry sectors to increase their efficiency and reduce the time constraint.
Furthermore, the requirement of intelligent solutions in the logistics field due to the increase in networking has surged the demand of these mobile robots.
North America and Asia Pacific Region Fuelled the Mobile Robots Market
Based on, the market is metameric into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2019, North America emerged united of the leading regions; though, the market within the Asia-Pacific region is anticipated to develop at a fast rate as compared to different regions. North America is additionally anticipated to exhibit the highest rate / CAGR over the forecast amount 2020-2027. Factors like rising income and increasing demand for mobile robots would produce moneymaking growth prospects for the global mobile robots market across the region. Also the presence of e-commerce giants in the region have surged the demand of these robots. In the year 2016, 24000 robots were ordered from the key developers of the North American companies which had shown a seven percent overall increase. The growth of the Asia-Pacific market is calculable to be fuelled because of the factors such as the growing penetration rate from the e-commerce giants like Walmart, Amazon which bring the need of these mobile robots in the warehouses. Japan and China are the leading user of mobile robots followed by North America, showing the adoption of these robots in the Asia Pacific region. Industry giants acquiring small and medium-sized enterprises has been a major reason for the growth in this region. Also, the growing development in the information technology ecosystem and the demand from various industry sectors in the region is boosting the growth of the robot market industry.
COVID-19 Situation
Manufacturing activities are interrupted because of lockdown measures enforced in numerous countries. Additionally, disruptions within the supply chain and retardation of companies’ businesses have occurred. Trade barriers have restrained the stock. The adverse effect on the automation sector has been a prime reason for the decline in the demand of mobile robots in the global market. The disruptions in the supply chain and manufacturing processes due to the lockdown implemented by governments have resulted in a sharp decline in the mobile robots industry. As per the report published by the International Federation of Robotics (IFR), four million industry robots are anticipated to be operational across all industries by the year 2022. The technological advancements in this industry is expected to trigger the recovery of this industry. The surge in the demand and use of disinfecting robots amid this pandemic has led to the growth of this industry in this time period. Recently, the SmartGurardUV disinfection robot which uses lamp technology was launched by Fetch Robotics in July 2020.
The key companies involved in the mobile robots market are the Aviation Industry Corporation of China, Clearpath Robotics, General Atomics Aeronautical System, Tech Robotic Systemz, Softbank Robotics, SMP Robotics, Aethon.
Global Mobile Robots Market Scope:
The Rising Demand for Surgical Gowns in the Healthcare Industry
Thought ArticlesOver the projection period, the worldwide surgical gowns market is estimated to increase at a CAGR of 3.22% to reach US$1,209.227 million by 2029, up from US$966.423 million in 2022.
Surgical gowns are worn by doctors during surgery. The surgeons and assisting personnel wear it for hygiene reasons. One of the most essential tasks of surgical gowns is to keep patients from contracting potentially fatal Hospital Acquired Infections (HAIs). With recent developments in medical facilities, public awareness of hospital-acquired illnesses has grown. Surgical gowns keep germs and other microbes from entering the person operating on the patient. Surgical gowns serve as a barrier against microbial infection in the operating room. The surgical gown aids in the control of bacteria transmission and disease spread. Furthermore, the rising prevalence of chronic illnesses will impact the market share positively. The International Diabetes Federation [IDF] predicts that 700 million persons worldwide will get diabetes by 2045.
Major advancements in the healthcare sector, expanding hospital and healthcare facility establishments, a rise in the number of surgeries combined with innovation in medical safety clothing, and a quickly growing aging people are the major factors driving market demand for surgical gowns and propelling their market growth.
The increase in surgical cases is likely to propel the expansion of the surgical gowns market over the forecast period. Additionally, the rise in the occurrence of hospital-acquired infections is expected to fuel the expansion of the surgical gown industry. Moreover, the increased awareness of hospital-related infections is expected to buffer the expansion of the surgical gown demand.
The rising developments in the healthcare sector will boost the market share in the upcoming years.
The healthcare segment is anticipated to grow which will positively influence the market size during the projected period. With the rising developments in the medical sector, the market for global surgical gowns is expected to surge. For instance, MEDU, a firm located in Mexico, aims to minimize waste and replace single-use medical clothing by developing a range of sustainable, virus-resistant recyclable products such as surgical gowns, head covers, and full-body suits. With an initial $400,000 investment, the business began trials in Mexican hospitals to evaluate and certify the findings and determine if doctors liked wearing the goods. The business hopes to substitute over 20 million single-use PPE garments and remove 6,000 tonnes of hospital trash from incinerators or landfills by the end of 2022. Furthermore, the firm has more than doubled in size and is now collaborating with institutions in Los Angeles and New York.
Additionally, Medtecs International Corporation Limited announced in November 2022 that two of the company’s popular disposable gowns, CoverU Disposable Gowns with Tape AAMI Level 4 Isolation Gown and CoverU Disposable Gowns with Tape – Chemo Gown, received 510(k) clearance from the United States Food and Drug Administration (FDA), confirming the safety and effectiveness of Medtecs’ products. The results came after a thorough analysis of the gowns’ performance data to confirm that both met all FDA criteria. It is also the first time a Taiwanese PPE brand received authorization in the United States for isolation and chemo gowns at the greatest degree of protection. Therefore, such market developments and initiatives taken by the government will propel the market to grow.
The introduction of new products by numerous firms will increase market size during the projected period.
Due to the launch of new products, healthcare companies have extended their operations which is projected to be lucrative for the market revenue and profitability.
For instance, RJ Group, a manufacturer and supplier of hospitality items, entered the healthcare market in July 2022 with the release of its SSMMS & REUSABLE PPE Kit. In this sector, the business provides a variety of safety items for medical personnel such as coverall suits, surgical gowns, doctor’s gowns, ICU coveralls, and doctor’s aprons. These kits also include SITRA-approved PPE Fabrics and meet FDA, CE, and ISO 13485 quality requirements. These kits are made of Tyvek fabric from DUPONT, the world’s leading safety gear producer, as well as Jindal fabric from India and other prominent fabric producers.
Similarly, in March 2022, Invenio introduced a new surgical gown line, the V90 surgical gown series. It has a lot of features, like sonic welds throughout, comfortable knit cuffs, and a large hook and loop fastening for adjustment and complete coverage. It provides non-reinforced, fabric-reinforced, and film-reinforced performance choices, allowing the user to choose the best gown for the surgery.
Furthermore, companies have signed partnership agreements with other firms to expand their business operations which has led the market to grow. For instance, Medline and 3M, for example, partnered in December 2021 to standardize surgical warming robes. Making normothermia the standard of care for all patients decreases post-operative surgical site infections (SSIs) and consequences.
During the forecast period, the global surgical gown market in North America is predicted to have a dominating share.
The global surgical gown market is divided into five areas based on geography: North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. Hospital gown demand in North America is expected to climb as the number of operations and healthcare professionals increases. Moreover, rising hospital-acquired illnesses are expected to push product demand even further. According to the most recent National Center for Health Statistics data, the United States completed around 48 million surgical inpatient treatments. Cardinal Health, a significant maker of surgical gowns, advised clients in January 2020 to discontinue the use of its Level 3 surgical gowns and the procedural packs that included the gowns. Some of the gowns were created in “unapproved sites that did not maintain a suitable state of the environment as required by law, were not recognized with the United States Food and Drug Administration (FDA), and were not certified by Cardinal Health,” according to the business. The recall is voluntary, and the FDA is not aware of any patients being injured as a result of surgical gowns. More than 9 million gowns are involved in the recall, with 7.7 million sent to 2,807 hospitals across the US.
Global Surgical Gowns Market Scope:
The Growing Development in the Thin Film PV Module Market
BlogThe Global Thin-Film PV Module Market is expected to grow at a compound annual growth rate of 3.81 % over the forecasted period to reach a market size of US $11.557 billion in 2027 from the US $8.896 billion in 2020.
Thin-film solar modules are constructed from the thin-film solar cells. Thin-film solar cells are second-generation solar cells that are made from layering of multiple thin-film photovoltaic materials. These solar cells have been observed to have a fragile layer of thickness, which measured in nanometres, as compared to the conventional P-N junction solar cells. Thin-film PV modules are more flexible and lightweight and cater to the development integrated photovoltaics through their use. The thin-film technology is known to be relatively more economic despite having lesser efficiency when compared to the conventional crystalline silicon technology. However, this technology has shown significant improvement due to the constant research and development over the years. As a result of all the efforts made on R&D, the efficiency of CdTe and CIGS PV cells is now recorded to be over 21% which has successfully outperformed multi-crystalline silicon, which still has a dominant share in the solar PV module industry.
Increasing Focus Towards the Renewable Energy Sector to Drive Market Growth
The inclining focus towards the renewable energy sector, especially solar energy, is expected to drive the demand for thin-film modules, thereby augmenting the growth of the market. Countries across the world have set targets for themselves, aiming to increase the share of renewable energy sources in the total electricity generation mix because of the rising concerns regarding things like environmental sustainability, reduction of the emission of greenhouse gases and also, the constantly rising cost of electricity. For instance, Australia’s renewable energy target is a federal government policy that aimed at generating an upwards of 33,000 GW of the total electricity from renewable sources by the year 2020. Spain is aiming at an installed capacity of 120 GW of renewable energy, primarily wind and solar, by the year 2030 under the country’s NECP 2021-30 (national integrated energy and climate plan). Canada, which boasts one of the cleanest electricity systems across the globe, also has set the target of increasing the share of zero-emitting renewable sources to 90% by the year 2030 from around an 80% figure back in 2016. In India, the government has aimed to install a capacity of 175 GW of renewable energy by 2022, out of which solar would constitute about 100 GW. All these targets and goals aimed at increasing the overall share of renewable energy sources in the total electricity generation mix are thus predicted to significantly drive the demand for thin-film modules globally and propel market growth.
Increase in R&D Investments to Increase Adoption of Thin Film PV Module and Augment Market Growth
The growth of investments in the research and development in order to make the thin-film solar modules more efficient is predicted to show an increase in their adoption and thus, raise their share in the global solar PV market. For instance, in December 2019, NICE Solar Energy GmbH, a German-Chinese joint venture was reported to have achieved a new world-record efficiency rate of 17.6% for the CIGS (copper, indium, gallium, and selenium) thin film solar modules. Further, in September 2019, NICE Solar Energy, a Schwäbisch Hall-based enterprise, along with the Karlsruhe Institute of Technology and the Centre for Solar Energy and Hydrogen Research Baden-Württemberg joined their forces together in order to work on the Capitano project. This project aimed at combining perovskite semiconductor-based thin-film solar modules with semiconductors made up of CIGS. This combination can potentially result in efficient tandem solar cells, while having all the advantages of thin-film technology and an efficiency of around 30%.
North America to Hold Substantial Share in the Thin Film Market
By geography, the North American region is projected to account for a significant share in the global thin-film module market in the analysed period and was also recorded to hold substantial shares back in 2019. With the imposition of tariff by the US, on silicon-based PV modules in 2018, the manufacturing of thin-film solar module has increased, with US manufacturer First Solar being one of the key players in the global thin-film module market. According to the EIA in 2019, the country was reported to have manufactured over 600 MW of thin-film modules. But after the tariff imposition, 8 GW of PV modules that were imported, did not tariff in 2019, while about 4.3 GW of these modules were thin-film modules. In October 2019, First Solar made an announcement stating that the production at its new PV module manufacturing facility in Ohio had commenced. With this new production facility, the company’s total annualized production capacity stood at 1.9 GW in the US. Both the production facilities at Ohio manufacture Series 6 module, a larger CdTe thin film solar module and similar in size to a conventional 72-cell crystalline silicon module.
Europe to Hold Decent Market Share in the Forecast Period
Europe is another region which is expected to hold a decent share in the thin-film module market globally over the analysed period owing to the growing R&D activities and focus directed on the reduction of carbon footprints across the entire region. For example, the European Sharc25 research project has been working on the optimization of the conversion efficiency of CIGSe thin-film technology from various aspects, with a combination of methodology like experimental characterization, theoretical modelling and sharing of the technical know-how among multiple leading research groups throughout Europe. European countries have been constantly increasing their speed to meet their targets of carbon-dioxide reduction while also addressing their energy needs. The demand for thin-film solar modules has been growing considerably in Europe, which is positively impacting the growth of thin-film module market in this region. The very first solar thin-film modules were selected back in 2017 by Photosol to power 14 solar power plants, with a capacity of 106.5 MW, and are located in Central and Southwest France. Hanergy Thin Film Power Group announced in 2018, the culmination of Europe’s biggest flexible solar module project, by its US based subsidiary, MiaSolé in Den Bosch, Netherlands. As a part of this project, the company successfully installed 418 flexible, lightweight modules on the roof of the Maaaspoort Sports Centre.
Global Thin-Film PV Module Market Scope:
Photoelectric Sensors – Versatile Proximity Detector Sensors
Thought ArticlesThe Photoelectric Sensor Market was valued at US$1.708 billion in 2022 and will increase to US$3.860 billion by 2029. Over the forecast period, this market is estimated to grow at a compound yearly growth rate of 10.23%.
A Photoelectric sensor is a proximity detector used to ascertain the distance, presence, or absence of the object with the aid of a light transmitter and photoelectric receiver built into it. The light transmitted by the sensor could be visible or infrared. The Photoelectric sensors are primarily available in three types: Through-beam, diffused, and retro-reflective. Depending on the type of sensor, both emitting and receiving elements are either housed in a single body or are separated into two bodies. Due to their versatile applications, Photoelectric sensors are being used in multiple industries, including Consumer Electronics, Semiconductors, Manufacturing, Packaging, Automotive, and others. Photoelectric Market is primarily segmented based on its types, end-user, and geography.
According to the Analysts, the demand for Photoelectric Sensor Market is expected to increase predominantly due to sensors’ applicability in multiple industries and growing industrial automation.
Photoelectric sensors offer a wide range of features, including long-distance sensing, fast response time, High resolution, easy adjustment, color identification, etc. A Through-beam photoelectric sensor, for example, can detect objects that are even 10 meters away, a feat impossible by other ultrasonic or magnetic sensors. Furthermore, as the speed of light is very fast, the sensors are able to respond at the swiftest speed possible. The advancement in technologies has further enabled them to be able to detect even objects of small sizes and detect precise positions. Moreover, as the sensors work on the principle of the amount of light reflected or interrupted by an object, they can detect any object, including wool, liquid, plastic, glass, etc., unlike proximity sensors which can detect only metals.
To optimize the operational processes and enhance accuracy, several industries—including pharmaceutical, food & beverages, packaging, and many others—are owing to their wide range of applications. For instance, a Photoelectric sensor can be used to count the number of products to detect the orientation or damages, if any, of the products on a production line. Furthermore, these sensors can even be used in smart parking lots to detect passing cars. These sensors are also installed in robotic trucks and pickers in the logistics industry for efficient and safe operations. The sensors not only possess a wide array of sensing ranges and longer serviceable life but are also economical. Thus, many industries are adopting photoelectric sensors into their operating systems to detect to enhance efficiency.
By type, the retro-reflective photoelectric sensors are expected to show significant growth during the forecasted period.
In Retro-reflective photoelectric sensors, the light emitter and receiver are usually housed in the same body. In contrast, a reflector is installed on the opposite side. In this, a light beam transmitter, usually a light-emitting diode, emits a light beam, which, when interrupted by any object, undergoes deviation. The reflector reflects the deviated light ray back to the light-sensitive receiver, which measures the intensity of deviation and detects the presence and orientation of the object. One of the positive attributes of these sensors is that they have simple wiring and an adjustable optical axis, making the device installation and configuration easy. Furthermore, as the light goes through an object twice, these sensors are optimal for sensing transparent articles. The main advantages of these sensors are that they are inexpensive when compared with Through-beam sensors and offer better sensing range and accuracy. The growing demand for these sensors in pharmaceutical and food manufacturing facilities is expected to fuel the market.
During the forecast period, the Photoelectric Sensors market in the Asia Pacific region is expected to have a dominant share.
Based on geography, the Global Photoelectric Sensors market is segmented into five regions: North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. The Asia Pacific is expected to hold a dominant share of the photoelectric sensor market. Among the countries presiding in the region, the photoelectric sensor market in India, China, Japan, and South Korea are expected to see significant growth, owing to the rapid development of automobile, semiconductors, and consumer electronics industries. For instance, according to OICA, of the 80,145,988 units of motor vehicles produced in 2021, 46,732,785 units were produced in the Asia Pacific region. About 50% percent of these units, that is 26,082,220 units, were produced by China, the largest automobile producing nation globally. At the same time, according to World Semiconductor Trade Statistics, of the US$ 555,893 million global sales produced in the semiconductor industry, the Asia Pacific region alone contributed to US$ 342,9667 million in sales in 2021. Furthermore, the emergence of Japan, China, South Korea, and Taiwan as the Big Four in the Asia Pacific, owing to the increasing strategic developments and investments in research and development, are fuelling the market growth. Thus, the increasing development of such industries in the region is bound to drive market growth in the Asia Pacific. The emergence of Industry 4.0, IoT, and their rapid adoption into several industries by governments and enterprises to increase efficiency are further expected to add impetus to the market growth.
Covid-19 Insights
COVID-19’s impact on Photoelectric Sensor Market is negative. The end-users of the Photoelectric Sensors Market are primarily packaging, semiconductors, consumer electronics, automotive, and manufacturing. The outbreak of the pandemic and mandated lockdown has led to the closure of many automobile and consumer electronic factories, either partially or completely. The increased infection rates had further affected the staffing in the industries, thereby reducing productivity. Subsequently, a number of investments and development plans were also put on hold and were postponed to a later time. The disruptions in demand and supply chains and volatile prices had negatively affected the market. In the automobile industry, for instance, the number of units produced in 2020 fell to 77,621,582 units from 92,175,805 in 2019 worldwide, according to the statistics derived by The Organisation Internationale des Constructeurs d’Automobiles, OICA. Overall, the year 2020 saw a decline of 15.8% in the production of motor vehicles globally. Subsequently, the demand for photoelectric sensors in the Automobile industry decreased during the pandemic. Nevertheless, with the economy’s recovery and several strategic developments deployed by the enterprises and governments to integrate industry 4.0 into multiple sectors, the demand for the photoelectric segment is expected to witness progressive growth in upcoming years.
Photoelectric Sensor Market Scope:
The New Age Concrete
Thought ArticlesThe fly ash market size was valued at US$5.482 billion in 2020 and is estimated to increase at a Compound annual growth rate of 5.93% over the predicted period to reach US$8.204 billion by 2027.
Fly ash is a diverse side product material produced during the burning of carbon in power plants. It’s a smooth grey substance with spherical crystal particles that emerge with flue gases. Because fly ash incorporates pozzolanic components that combine with lime to form supplementary cementitious materials, as a result, fly ash is used in construction, mining, landfills, and dams.
Factors Impacting the Fly Ash Market Growth
The market of fly ash is expected to grow as a result of the construction sector’s expansion, increased emphasis on construction and road concrete slabs, difficulties associated with the disposal of fly ash, government advancement of fly ash in various countries, and increased emphasis about the use of environment-friendly materials. Fly ash is a lowered fine material emitted after burning coal, typically in thermal power stations. Fly ash is mostly used commercially to make a range of products used in the construction sector. Fly ash is composed of calcium oxide and silicon. When fly ash is blended with water and lime, a derivative similar to Portland cement is formed with greater strength and durability, widely used in building projects. The popularity of fly ash is growing due to various governments emphasising the environmental benefits of fly ash usage. Compared to conventional ash mixes, fly ash allows for a low water-cement ratio for comparable blends.
Malaysia, Indonesia, China, and India are expected to invest more in fly ash infrastructure improvements because it is less porous and emits less co2, thereby contributing to reduced emissions. The agricultural industry uses fly ash for soil stabilisation.
The mining industry is looking at possible methods of stowing, and fly ash is an option because it reduces water usage by approximately 50%.
It can be used in water purification to reduce Total Suspended Solids, Total Dissolved Solids, and ph levels of water to filter water, which is expected to drive demand for the fly ash market.
Components of Fly Ash
Fly ash composition is entirely dependent on the type of coal as well as the combustion method.
Different fly ash compositions by a different types of coal used:
Types of Fly Ash
As Per IS Codes
Grade I of fly ash is derived from bituminous coal with SiO2+Al2O3+Fe2O3 fractions greater than 70%. Fly ash is derived from lignite coal with fractions SiO2+Al2O3+Fe2O3 greater than 50% are Grade II fly ash.
As Per ASTM
Type C fly ash is made from the burning of lignite or sub-bituminous coals, contains more than 10% CaO, and has pozzolanic as well as cementitious properties. Type F fly ash, which is formed by the burning of bituminous or anthracite coal, contains less than 10% CaO and has pozzolanic properties.
Based On Boiler Operations
When the combustion temperature is less than 900o C the low temperature (LT) fly ash is formed. High temperature(HT) fly ash is produced by combustion of less than 1000o C.
Fly Ash Uses
The requirement in the construction sector and fly ash market is expected to be driven by the increasing industrialization, population, and standard of living.
Fly ash is being used to build embankments and roller-compressed concrete dams. Fly ash is used as a reinforcement material in flowable and structural fills because it provides barrier properties and toughness. It is also used as an admixture in asphalt road construction, filling void spaces. Fly Ash is used in the production of Portland cement and the production of ash concrete blocks used in construction, as fly ash bricks entail 25-30% less cement.
The growing number of highway and expressway megaprojects is expected to expand the market for fly ash.
Class F Fly Ash is Expected to Lead the Market Growth of the Fly Ash Market Globally
The Class F type fly Ash is anticipated to grow the fastest due to increased demand from the industrial and construction sectors.
Class F fly ash is primarily used for Portland cement, where it is used in concrete structures and high potency mixes. It is also appropriate for summer concrete casting because it reduces heat gain during the curing process. Global demand for Class F fly Ash is expected to be driven by increased consumption of cementitious and cement materials in the building and construction industry. Rising construction spending in China and India has increased the consumption of Class F fly ash.
Portland Cement and Concrete Application in Residential Projects
The Portland cement and concrete application are the widest because of increasing adoption from the residential and non-residential construction projects. Fly ash concrete has a marginally lower potency than normal cement concrete for up to 30 days, similar power in 30-40 days, and better durability than normal cement after a year. Fly ash concrete is less permeable and has fewer erosions than regular concrete. According to Statistic Canada, the total investment in building projects in Canada is CAD$ 20.0 Billion. In which non -residential construction expenditure is CAD$ 201 492.1 million. The soaring Construction sector is anticipated to bolster the demand for fly ash market globally.
The Impact of the Russia-Ukraine Conflict in 2022
Negative consequences are widely anticipated worldwide, particularly in the European Union, Eastern and Central Asia, Eastern Europe, and the United States. Russia held some of the major thermal power plants. It contributes majorly to thermal power generation the region also accounts for 12% of oil reserved share of the world (Source: BP). Still, all of this has been jolted due to the conflict situation in the region, which has impacted the fly ash market as well as it is one of the by-products of the thermal power plant. According to OEC, Russia exported $5.02 million in Other Slag and Ash in 2020. . Other Slags and Ash exports from Russia are primarily destined for Kazakhstan ($1.73M), Belarus ($1.26M), Ukraine ($783k), Azerbaijan ($466k), and the United States ($451k). This dispute has had a significant impact on people’s homes and lives and caused massive breakdowns in trade dynamics. The possible implications of the ongoing battle and ambiguity in Eastern Europe are considered to harm the global economy, with Russia bearing the brunt of the long-term consequences.
Covid-19 Impact
COVID-19 is an unprecedented public health crisis globally that has impacted nearly all of the business, and the protracted effects are anticipated to have an influence on the market growth of fly ash during the forecast period. As the stringent government regulation jolted several industries and the global shutdown impact the labour market the construction business was put on hold as a result the demand of the construction material and cement was declined during the period hence observing the drop in the fly ash market as well.
Growing Opportunities for Membrane Bioreactors
BlogThe Membrane Bioreactor (MBR) Market is projected to grow at a CAGR of 8.54% to reach US$4.750 billion by 2026, from US$2.676 billion in 2019.
Membrane bioreactors combine a membrane process, such as microfiltration or ultrafiltration, with a biological wastewater treatment process, such as activated sludge. It is currently widely utilised in the treatment of municipal and industrial wastewater.
As it is a highly technological solution, it requires professional design and competent workers. Furthermore, it is an expensive but effective treatment option. It is feasible to update outdated wastewater treatment plants using MBR technology.
Its advantages include the removal of secondary clarifiers and tertiary filtering operations, resulting in a smaller plant footprint. In some cases, the footprint can be lowered even further by eliminating or minimising additional process units like digesters or UV disinfection (depending upon governing regulations), which can be built to extend sludge age and therefore reduce sludge output, has high effluent quality and loading rate capabilities. Its drawbacks include the following: Membranes have high operating and capital costs, membrane complexities and fouling, and high energy costs.
Municipal corporations are progressively utilising MBR, which is propelling the MBR market forward. The increasing need for safe and treated water, as well as effective pathogen removal from wastewater, is driving up the usage of membrane bioreactors in municipal and industrial wastewater treatment plants. The Kubota Membrane USA business announced in August 2021 the signing of a deal to provide the MBR to 32 MGD Big Creek Water Reclamation Facility owned by Fulton County, GA. The substantial advantages of using membrane bioreactors over traditional activated sludge treatment are boosting the MBR market. Furthermore, Florida Brewery installed a Membrane Bioreactor in May 2021 to remove % of pollutants from its wastewater, thus allowing the company to release the treated water directly to the city sewer rather than transporting it off-site and hence lowering Wastewater Costs.
The MBR market is anticipated to be driven by the rising demand for upgrading existing wastewater treatment facilities that are failing to meet capacity. MBR is used to accomplish bacterial digestion of waste organic matter and ease of separation of treated effluent from remaining suspended particles. Furthermore, favourable government efforts pertaining to improved wastewater treatment methods are boosting the market growth.
However, the significant financial investments required to install MBR have limited their use in wastewater treatment.
The Growing Concerns Regarding Water and Wastewater Treatment Due to Global Water Scarcity Will Fuel Market Expansion
Due to the shortage of water resources, it is necessary to reuse water once it has been adequately treated, therefore ensuring environmental preservation. According to the UN World Water Development Report 2020, 2.2 billion people do not have access to safe drinking water, and 4.2 billion, or 55% of the global population, do not have access to safe sanitation. Among the wastewater treatment methods available, membranes stand out for their ability to retain particles, salts, and even disinfect water, providing water suitable for reuse in agriculture and other uses.
Increasing Population Growth and Rapid Urbanization Will Drive the Market Growth
According to the International Institute for Sustainable Development, the world population is expected to rise from 7.8 billion in 2020 to 9.9 billion by 2050, according to the 2020 World Population Data Sheet. This level indicates a more than 25% increase over 2020. The 2020 World Data Population Sheet also reported that 40 % of the population in twenty-six nations and territories live in cities with a population of one million or more. South America had the highest percentage of its population (84%) living in cities.
According to the United Nations Conference on Trade and Development, 51.1 % of the global population resided in cities ten years ago. By 2019, the proportion of the urban population has risen to 55.7%. It is usually higher in the developed world (80.5%) than in the developing world (51.1 %). Hence, the rapidly growing global population and expanding urbanisation will drive market expansion, as the wastewater treatment required for industrial and municipal waste will rise, thus accelerating demand for MBRs.
High Initial and Operating Costs Can Restrict Growth
The initial expenses of MBRs are quite substantial, which may limit market growth in the long term. Increased capital equipment investment can improve process robustness (for example, through control techniques) and therefore reduce maintenance and repair costs. In the case of a membrane process, greater fluxes allow for lower capital expenditures due to the proportionally smaller membrane area need. This, however, increases the probability of fouling, necessitating more regular cleaning and increasing process downtime. Furthermore, operational costs are high, which may impede market expansion.
The North American Region Will Be a Prominent Player
Geographically, North America accounts for a significant market share due to strict government regulations for industrial waste disposal.
The Asia-Pacific region will experience a significant CAGR during the forecast period due to an increase in the number of manufacturing facilities, rapid growth in the industrial sector, an increase in the regional population, and supportive government initiatives to promote municipal wastewater treatment facilities in the region.
Annual population growth rates were higher than the global average in Western, Southern, and South-Eastern Asia, as well as Central and Western-Andean South America. Over the last decade, urbanisation has been most evident in emerging countries, particularly in developing Asia and Oceania, where the urbanisation rate has increased from 42.3 % in 2009 to 49.1 % in 2019.
Government efforts such as India’s “Housing for All by 2022” and “Atal Mission for Rejuvenation and Urban Transformation (AMRUT)” for upgrading the housing sector are projected to enhance the penetration of municipal wastewater facilities for the urban population, therefore expanding market size. The Union Ministry of Housing and Urban Affairs (MoHUA) announced in October 2021, as part of the AMRUT 2.0, that a survey of house water supply and the state of water bodies in 500 cities will be conducted in 2022. AMRUT 2.0 seeks to make all 4,700 towns and cities in the country “water secure”. City water balance plans will be developed for each city, encompassing reuse of treated water, rejuvenation of water bodies, and conservation.
Furthermore, the regional use of MBR is being boosted by diminishing freshwater resources due to increased contamination of local water bodies by waste discharge in growing economies.
The Impact of the Outbreak of COVID-19 on the Membrane Bioreactor (MBR) Market
The Covid-19 pandemic had a negative impact on the MBR market. Due to the nationwide lockdown and travel restrictions, many ongoing operations related to sewage and wastewater treatment were temporarily suspended, further hampered market demand for membrane bioreactors. The market, however, is projected to rebound as the restrictions are eased.
Membrane Bioreactor (MBR) Market Scope:
The Rising Influence of the Oil & Gas Industries on Subsea Systems
BlogThe subsea systems market is projected to grow at a CAGR of 3.43% to reach US$16.093 billion by 2028, from US$12.707 billion in 2021.
Subsea systems provide perfect options for high oil recovery in mature offshore wells while being cost-effective and maintaining offshore basin stability. Subsea processing systems include equipment for petroleum processing at the seabed such as subsea pumping, separating, injection, and compression. Through good field management, subsea processing increases the volume of oil and gas produced from offshore wells. Therefore, the rise of the oil and gas industry will generate demand for subsea systems which will positively contribute to the market share in the upcoming years.
Furthermore, as oil prices have recovered during the crisis, along with the increasing investment trends in the offshore sector, it is likely to be one of the primary drivers for the offshore oil and gas services and equipment industry, and therefore the subsea systems market, throughout the projection period.
The rising demand for subsea systems in the oil and gas industry
Growing deepwater drilling operations, as well as increased investments in oil and gas sectors in emerging nations, are important drivers that are expanding the market size. Sluggish global oil costs are a major limiting factor impeding market expansion. The liberalization of the oil and gas sector provides considerable development potential for the subsea systems market.
Additionally, because of increased worldwide consumption of petrochemical goods, significant increases in demand for electricity and fuel, and the deterioration of traditional onshore oil and gas deposits, the global oil and gas industry is turning its attention to the offshore oil and gas industry. This growing offshore oil and gas industry is critical to the high development prospects of the global subsea systems market. The global subsea control systems market is also being driven by an increase in the number of exploration activities taking place in non-traditional oil and gas exploration zones such as Latin America and Africa, as well as technological advancements that allow for the development of precise and highly effective subsea production systems. According to the US Energy Information Administration’s (“EIA”) short-term energy forecast, 99.0 million b/d of liquid fuels and petroleum were utilized globally in January 2022, a rise of 6.6 million b/d from January 2021. According to the EIA, global consumption of petroleum and liquid fuels would rise by 1.9 million b/d in 2023.
Furthermore, technological developments have resulted in the quick identification of new deposits, increasing prospects. The growing requirement to replace old oil and gas reserves with new deepwater reserves is likely to open new prospects for subsea control equipment market participants. For instance, Interventek, an Aberdeen-based subsea well intervention technology expert, announced the commercial introduction of a new API 17G certified, in-riser subsea landing string system in October 2021. The Revolution-7 landing string is a sophisticated, 7-inch nominal, 10,000psi rated system that includes Interventek’s Revolution safety valve. Interventek’s PowerPlus technology is also included in the system, which is a one-of-a-kind arrangement of a regionally incorporated, gas-accumulated power source that provides valve activation in less than a second.
The increasing initiatives taken by companies to incorporate subsea systems into their operations will benefit the market size in the long run
The growing trend of innovative product launches and the market expansion strategies by the companies will surge the market in the next five years. For instance, Norwegian Innova and the US Teledyne Energy System collaborated in February 2022 to demonstrate the usage of hydrogen for local control of subsea control systems. The validation test was conducted at the Norwegian Center for Offshore Education, Tau Autonomous Center in Tau, Norway, and comprised a good intervention scenario in which the Subsea Supercharger powered an Innova subsea hydraulic pumping unit (sHPU). Furthermore, EniSpA (an Italian oil and gas firm) launched its first exploration well in Abu Dhabi’s offshore territories in February 2022. The business also stated that its first exploration well, XF-002, is now being drilled in offshore Block 2 Abu Dhabi (UAE) at 115 feet of sea depth.
Additionally, Schlumberger, Aker Solutions, and Subsea 7 today announced a joint venture agreement to advance efficiency and innovation in subsea production by assisting clients in unlocking reserves and reducing cycle time in August 2022. The partnership brings together a portfolio of new technologies such as subsea compressed air, all-electric subsea production systems, and other electrified capabilities that will assist clients in meeting their decarbonization targets. Similarly, Chongqing Qianwei Technologies Group successfully constructed a subsea Christmas tree in the Yingge Sea, Hainan Province, South China, in July 2022, marking a major stride in the country’s deep-water oil and gas development.
According to analysts, the South American region is anticipated to witness growth during the forecasted timeframe
Based on Geography, the subsea systems market is divided into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. Geographically, South America is predicted to be the biggest and fastest-growing subsea system market. Brazil accounts for the bulk of demand because of recent deepwater and ultra-deepwater activity and many prospective projects. Brazil is a global pioneer in the creation of deepwater and ultra-deepwater projects, according to the EIA. Brazil produced an estimated 2.94 million barrels daily of crude oil and condensate in 2020, an improvement of more than 150,000 barrels per day over 201, as per the same source. Changes in government policy, notably as deregulation of the oil and gas industry have attracted international investment in recent years.
COVID-19 Insights
The COVID-19 epidemic interrupted oil and gas pricing, which had a significant influence on market share. Prices fell by 25% in the first quarter of 2020, according to the Organization of the Petroleum Exporting Countries (OPEC). Furthermore, OPEC members lowered oil output by 9.7 million barrels per day between May and July 2020. As a result, market participants were forced to reduce their investments. As a result, offshore activities in deep and ultra-deep water were curtailed. Furthermore, when the wells were shut, market participants were fearful that if the wells were sealed further, they would lose their assets permanently.
Smart Devices to Fuel the HVAC Controls Market
BlogThe Global HVAC Controls market size was valued at US$11.299 billion in 2020 and is anticipated to increase at a Compound Annual Growth Rate of 8.77% over the predictive period to reach US$20.354 billion by 2027.
HVAC control refers to the process of regulating the functioning of air conditioning, ventilation, and heating systems. It’s essentially a control mechanism with a sensing device that compares variables such as temperature, air quality, motion-detecting, etc, to provide the desired function to the user. HVAC control systems are used in residential, industrial, as well as, commercial complexes, to ensure proper airflow and temperature control. The growing construction industry has led to significant market growth in this sector.
Growing Technological Developments to Drive the Market
The smart devices and technology industry have seen rapid developments in the last few years, owing to the rapid industrialization and prevalence of IoT and smart devices. The Internet of Things (IoT) is made up of physical devices that communicate with one another across a network or the internet. IoT devices can be used for energy conservation, controlling remote appliances, motion sensing, and more, which help in increasing efficiency and accessibility in a lot of applications. IoT devices are used in a number of sectors, including automobiles, smart home technologies, handheld, and portable devices, etc.
The increasing adoption of IoT devices has helped in increasing the market demand for the HVAC controls industry. HVAC manufacturers have been attempting to improve their market share by providing consumers with smart HVAC systems. Incorporating IoT systems into lighting, HVAC, and other applications would help with financial savings, resource efficiency, condition monitoring, temperature control, and sustainable energy performance. As a result, there has been a rise in demand for IoT-based HVAC management systems. Moreover, technological innovations in cloud computing and internet services have also helped in increasing the market demand. The integration of cloud computing services has helped in the maintenance and interpretation of data and records, and avoid errors and data loss.
Additionally, government initiatives to reduce energy usage and wastage would also help in increasing the market demand. According to the release by US Energy Information Administration on 28th April 2021, the EIA projects to decrease the energy consumption for heating equipment by 6%. One of the factors that would help with this goal is the increasing adoption of HVAC sensors and controls, which would contribute to a decrease of 13% in energy consumption across offices in the US. Hence, with the increasing technological advancements in smart devices and internet services, and government initiatives, the market is expected to rise significantly.
Advancements in HVAC Controls Technology to Drive the Market
With the increasing advancements in the IoT Device industry and rising environmental awareness, the HVAC Controls market has reported significant improvements.
According to a news report by Ecobee on 17th May 2022, the company released two new smart thermostats, namely Smart Thermostat Premium and Smart Thermostat Enhanced, which aim to improve comfort security, and health in the house, while also providing energy-saving features. The devices can measure and maintain air quality, provide intruder alerts, and is also compatible with Alexa, Siri, Google Home, and other home devices.
According to a press release by Siemens on 20th April 2022, the company now offers smart automation HVAC controllers for all types of buildings. Siemens has added the PXC7 to its Desigo line, giving building automation professionals even more choices. Professionals may now program heating, ventilation, and air conditioning applications for larger buildings with this new feature. The Desigo PXC7 controller assists system integrators in offering a comprehensive automation solution, owing to its simpler integration features. The controller comes included with cloud connectivity, allowing users to do maintenance chores remotely, leading to faster response times and lower trip expenses, during the building’s lifespan.
According to a release on 22nd September 2020, Carrier announced the release of its WeatherExpert® Commercial Rooftop Units with EcoBlue Technology, which are now available with variable-speed 48JC gas/electric and 50JC electric/electric models, with cooling capacity ranging from 25% to 105 percent of standard capacity. The WeatherExpert 48/50 JC units also have a patented Humidi-MiZer® Adaptive Dehumidification system as an option, which provides additional dehumidification control and standard SystemVuTM controls, which include a large text display, quick LED status, smarter diagnostics through ongoing, real-time information, and built-in i-Vu®, CCN, and BACnet® capabilities.
According to a news report by Johnson Controls on 31st July 2020, the company has unveiled an all-in-one system that allows building operators to analyze sustainability, health, and wellness indicators while also lowering energy, water, trash, and carbon emissions. Buildings will be able to switch into multiple modes in response to various crucial conditions such as building access, airflow, elevator movement, door locks, illumination, open collaboration, and other environmental and safety settings. Users of the platform may anticipate saving 20-60% on energy bills and IAQ parameters by linking HVAC equipment with new data and AI.
Asia Pacific Region to Lead the Market
The Asia Pacific region is expected to hold the largest market share in the HVAC controls market throughout the forecast period. The market is predicted to grow as a result of factors such as the rising population in the region, and the increasing infrastructural developments in the area. The growing adoption of energy-efficient practices and government initiatives are expected to drive market growth. Moreover, the rapidly growing construction industry and the emergence of IoT-enabled HVAC systems in countries like India and China has also contributed to the increasing market demand, and this demand is anticipated to rise significantly in the region over the forecasted period.
COVID-19 Insight
The outbreak of the COVID-19 pandemic triggered a global economic slowdown. Since most governments imposed lockdown and social isolation regulations, most firms had experienced significant losses. This also had a significant impact on the HVAC controls market. Due to the closure of most construction activities across the world, the HVAC controls market faced a setback. The industry faced significant losses due to the disruption of major supply and production lines. However, the market has been reported to be recovering, owing to the resumption of industrial processes and the withdrawal of COVID-19 protocols in countries. Hence, as with the growing technological advancements and government initiatives, the HVAC controls market is anticipated to grow significantly in the forecasted period.
HVAC Controls Market Scope:
The Significance of Micronutrients in Crops
BlogThe crop micronutrients market is expected to grow at a compound annual growth rate of 7.89% to reach a market size worth US$9.621 billion by 2027. This market was valued at US$5.653 billion in 2020.
Food is a key sector to consider for survival as the world population grows. As a result, micronutrients are essential for plant and agricultural growth. They boost quality and output by supplying nutrients like iron, zinc, boron, copper, and others. Furthermore, the rising requirement for crop micronutrients might be due to the development of soil deficiencies in cultivated fields. Crop micronutrients also assist crops in becoming more disease-resistant. According to the United Nations, the global population is predicted to reach 9.7 billion by 2050. However, the demand for the few available resources is rising as industrialization and urbanization accelerate. Thus, a major decrease in arable land has increased farmers’ usage of micronutrients, which are thought to be very efficient for increasing yield quantity and quality in the limited accessible land.
A significant decrease in arable land, combined with an increase in the globally growing demand for food, has increased the pressure on the limited available resources. As a result, farmers are using various micronutrients to improve yield in the limited available land, which is also playing a significant role in shaping the market growth in the coming years.
The crop micronutrient market is expanding due to soil micronutrient deficiencies and biodegradable chelates
Crop micronutrients are found in low amounts in plants, and shortages in these elements can lead to crop diseases. For example, a lack of Fe can induce chlorosis in several crops. Similarly, Mn shortage may result in decreased agricultural output. Micronutrient deficiencies and imbalances are occurring in soils all around the world, with soil pH, humidity and others being the primary reasons. As the pH of the soil rises, so does the accessibility of micronutrients. Mineral fertilisation efforts are being prioritised by governmental and non-governmental entities to reduce shortages. According to the FAO, India, China, and the United States utilise almost half of all mineral fertiliser nutrients. Despite the fact that many nations have achieved national food sufficiency, there is always a need to feed people with nutrient-rich food by upgrading agricultural methods.
Furthermore, because of the different recognised risks of non-biodegradable chelating agents, market attention is shifting toward the creation of biodegradable chelates. These are mostly used to remove metals that can harm plant and soil health, as well as to prevent the precipitation of these hazardous metals into the soil. Additionally, farmers are gradually transitioning away from commodity fertiliser products and toward speciality fertilisers such as chelated fertilisers, encapsulated fertilisers, and others. These fertilisers have strong growth potential for higher output, and they use less water. Fertilizer producers are creating agricultural chelates with the help of government regulations and subsidies, which are expected to expand in rising economies such as India and China. Therefore, all these reasons sum up the crop micronutrient market to witness an increase in the coming years.
Key developments in the crop micronutrients market
There have been major key developments in this market that have elevated and expanded the market spectrum. For instance,
· Under the Tamil Nadu State Rural Livelihood Mission, the National Research Centre for Banana licenced and transferred technology for the manufacture of ‘Banana Sakthi,’ a micronutrient mixture for banana crops, to a women farmer producer’ group in Kanyakumari district in 2022.
· In 2022, Coromandel International Limited launched products, OFFICER, a new generation selective herbicide, for farmers. It is a broad-spectrum systemic herbicide that controls a wide range of weeds in paddy fields.
· In 2020, McGregor Company expanded its family-owned ag retail company by acquiring HydroGro. HydroGro is an Arizona-based company that produces water-based micronutrient solutions for the agricultural and turf sectors. HydroGro was a pioneer in seed-applied Nutritionals micronization technology and possesses multiple patents in that field.
· In 2022, The Rice Fortification Unit has been inaugurated by the Centre of Excellence for Food Fortification (CEFF) at the National Institute of Food Technology Entrepreneurship and Management (NIFTEM), Haryana, in collaboration with Hexagon Nutrition. The construction of the rice fortification equipment at CEFF is an important step toward creating a healthier nation.
· A new collaboration between Pro Farm Technologies, a subsidiary of Marrone Bio Innovations, Inc., and Corteva Agriscience has provided growers in Europe with an innovative, sustainable choice for increasing plant health and crop quality in 2022. Corteva is the only European distributor for Kinsidro Grow, a revolutionary foliar bionutrient that provides critical nutrients to plants, resulting in greater plant vigour.
According to analysts, the Asia Pacific region is expected to occupy a notable share of the market in the upcoming years.
During the predicted period, Asia Pacific is anticipated to account for the biggest share in terms of volume and value. The rising development of high-value crops and increased farmer knowledge of micronutrients are likely to give greater opportunities for market expansion. Government regulations enacted by Asia Pacific countries, as well as huge subsidies for crop fertilisation and nutrition, often up to 100% for marginal farmers, are important drivers driving the growth of this industry in the area. The growing farming practices and need for high-quality agricultural output are driving the Asia Pacific micronutrient fertiliser market expansion.
COVID-19 Insights
The outbreak of the COVID-19 virus led to a surge in infection rates, resulting in the implementation of worldwide lockdowns across countries. This led to a decrease in the market demand for the crop micronutrient market since most production and supply lines were disconnected. Since most crop producers could not meet the increasing food demand during the pandemic, the cost of food increased. The increased demand resulted in more farmers using micronutrients for crop production, to increase crop immunity and decrease crop failure. Moreover, with most industries now restarting their production processes, the crop micronutrient market is anticipated to increase in demand.
Crop Micronutrients Market Scope:
A Golden Key for Heart Health: Beta-Glucan
BlogThe beta-glucan market is evaluated at US$370.313 million for the year 2020 growing at a CAGR of 7.16% reaching a market size of US$600.982 million by the year 2027.
According to the National Cancer Institute, Beta Glucan is a substance that is found in bacteria, plants, and certain foods such as baker’s yeast, mushrooms, cereal grains, etc. Beta-Glucan is made of a string of glucose molecules joined together. It is a type of polysaccharide that may stimulate the immune system and help in killing cancer cells. It offers numerous benefits such as improvement in cholesterol levels and improvement in heart health. The growing product demand in functional food and animal feed applications is expected to be a key driving factor for the beta-glucan market during the forecast period.
The key factors driving the growth of the Beta-glucan market are its health benefits, the rising number of patients with chronic heart diseases, and the growing trend in personal health during the forecast period.
The beta-glucan offers numerous health benefits to the human body. It is a soluble fiber readily available from oat and barley grains which has multiple functional and bioactive properties. According to Harvard University’s The Nutrition Source, the beta-glucan in oats has the ability to help slow digestion, suppress appetite, and increase satiety. Furthermore, beta-glucan can help in throwing the cholesterol out of the body by binding the cholesterol-rich bile acids in the intestine and transporting them through the digestive tract. Moreover, beta-glucan fiber can also help in preventing a sharp rise in blood sugar and insulin levels after eating a meal and may benefit gut health. These health benefits are expected to propel the market for beta-glucan in the upcoming years.
Additionally, the increasing cases of chronic heart diseases due to limited physical activities, unhealthy diet, hypertension, high cholesterol, and obesity among others are giving rise to the demand for healthy alternatives such as beta-glucan. As per the Centers for Disease Control and Prevention, in the United States of America, about 679 thousand people died from heart disease in 2020. Furthermore, the World Health Organization also reported that cardiovascular diseases are the leading cause of death globally. It is estimated that every year cardiovascular diseases take 17.9 million lives each year. Hence, it is evident from the data that heart diseases are becoming a matter of concern. Therefore, to tackle this issue the world population has shifted its focus toward personal health. The prime concern of the global population has become the prevention of disease rather than after-treatment medication. Henceforth, the global population is moving toward innovative products, especially under the nutritious segments, which is expected to propel the demand for beta-glucan in the market.
Owing to mushrooms’ wide applications, its demand is expected to surge rapidly.
On the basis of the source, the beta-glucan market is segmented into cereals, mushrooms, yeasts, and others. As per the analysts, the mushrooms are expecting rapid growth during the forecast period. Furthermore, the health benefits of mushroom-derived beta-glucan, such as high-protein, vitamin, and fiber content along with low cholesterol, fat and carbs are positively benefiting the growth of the beta-glucan market under this segment. Additionally, the anti-allergic, anti-cholesterol, and anti-tumor qualities of mushrooms further support the health-conscious purchase patterns of consumers. The soluble fiber in mushrooms also helps to prevent cardiovascular disorders which makes them a beneficial food option for pharmaceutical and nutraceutical purposes. The beta-glucan market may experience further growth because of the expanding use of Shiitake mushrooms to increase mucosal barrier resistance to inflammation and stop the development of intestinal ulcers.
The beta-glucan market is anticipated to be significantly dominated by the cosmetics and personal care sector.
The beta-glucan market is divided into food and drink, cosmetics and personal care, pharmaceuticals, and other categories based on application. The rising awareness of the benefits of beta-glucan in the personal care industry coupled with rising disposable income has bolstered the demand for beta-glucan in this segment. Oats-derived beta-glucan is used as a component in cosmetic products made by the personal care and cosmetics industries. Furthermore, beta-glucan assists in skin layer exfoliation and offers protective characteristics which aid in skin texture restoration. It is the best ingredient for cleansers, lotions, and moisturizers because of its skin-moisturizing qualities and antibacterial function. Henceforth, these benefits of beta-glucan in the cosmetics and personal care segment is expected to support the market growth during the forecast period.
According to analysts, the Asia-Pacific region is expected to witness positive growth during the forecast period.
Based on Geography, the beta-glucan market is divided into North America, South America, Europe, and the Asia Pacific. Geographically, the Asia-pacific region is predicted to acquire a notable share within the beta-glucan market. that can be primarily attributed to the presence of colossal industry bases in countries like China, India, and Japan. Furthermore, the changing lifestyle, growing economy, and a gradual shift towards natural products are witnessed in developing countries like India, and China. The demand for beta-glucan extracted from different raw materials is expected to surge in the forthcoming years. Such a shift towards healthy nutritional diet practices can be traced back to the importance of personal health, physical wellness, and health-conscious decision-making consumer behavior. Additionally, the low cost of labor and raw materials coupled with increasing demand is a key factor in supporting the growth of the beta-glucan market in the Asia-Pacific region.
COVID-19 Insights
The outbreak of COVID-19 had a significant impact on the beta-glucan market. Owing to the rising need to attain protection from the contamination of the virus, the world population shifted its focus towards more healthy alternatives. As a result of rising health awareness, the demand for nutritious food rose amid the global pandemic. Moreover, the need for a strong immune system to fight off the virus bolstered the demand for immune boosters and nutritious food during this period. However, the imposed lockdowns and social distancing measures across the globe led to partial or complete shutdowns of manufacturing units. Consequently, the supply of beta-glucan was hindered owing to issues like demand and supply chain gaps, and slow market growth during the pandemic.
Beta-Glucan Market Scope: