Gear oils are required for the smooth functioning and maintenance of this equipment. They are designed to satisfy certain performance criteria, such as temperature resistance, load-bearing capability, and wear protection. The gear oil industry is extremely competitive, with several global and regional firms participating.
Gear oil, often known as gear lubricant, is a lubricating oil that is particularly designed for use in gearboxes, differentials, and other gear systems. They are intended to decrease friction, wear, and heat generation inside gear assemblies, resulting in smooth operation and increasing the life of gears and bearings.
Companies in this industry prioritize product innovation, distribution channel growth, and strategic collaborations to increase market share and remain competitive. The gear oils market is likely to expand in the next years, driven by rising demand for high-quality lubricants in a variety of sectors, technical improvements, and a shift towards energy-efficient and ecologically friendly lubricants.
Gear oils come in a variety of viscosity grades, which manufacturers normally specify based on the gear system’s working circumstances and needs. The oil’s viscosity impacts its flow resistance as well as its capacity to maintain a lubricating coating between moving surfaces under varying loads and temperatures.
According to the International Organization of Motor Vehicle Manufacturers, global sales of all types of automobiles rose from 78.79 million in 2020 to 1.63 million in 2022. Thus, the substantial increase in car sales contributes to the increasing demand for gear oils.
Figure 1: Global Vehicle Sales in Million, 2020-2022
Source: International Organization of Motor Vehicle Manufacturers
Wind turbines use gear oils to lubricate their primary gearboxes and other gear motor components. This is due to the high temperatures, heavy loads, oxidation and corrosion, and bearing wear that occur throughout the power production process.
The usage of performance additives in synthetic oil formulation to satisfy particular criteria has resulted in a rise in demand for synthetic gear oils in wind turbines due to their better properties over mineral-based alternatives.
Globally, the quantity of electricity generated by wind energy is rapidly increasing, and the installed capacity of wind turbines grows year after year. The drop in offshore industry pricing has helped to boost the wind power production market by stimulating investments in Europe, North America, and Asia-Pacific. This is expected to drive up demand for gear oils during the projected period.
According to the Global Wind Energy Council, 78 GW of wind generation capacity is to be added to electricity networks in 2022, which will further increase to 115 GW in 2023. It is expected to reach 125 GW in 2024, 135 GW in 2025, 150 GW in 2026, and 157 GW in 2027.
GWEC estimates 680 GW of additional worldwide wind capacity between 2023 and 2027, with 130 GW offshore. China leads with 300 GW, followed by Europe with almost 100 GW. Offshore wind will play an important role, with over 60 GW installed between 2023 and 2025 and 68 GW in 2026-2027.
Figure 2: Global New Wind Power Capacity Installation in GW, 2022- 2027
Source: Global Wind Energy Council
Gear systems are becoming more difficult since they have very accurate cut teeth and nicely polished surfaces. Furthermore, because they are smaller, the teeth and bearings are subjected to more stress. These stresses, along with vibration and shock, can cause frequent gear pitting (particularly micro pitting) in surface-hardened gears.
Furthermore, the systems work at high temperatures. For all of these reasons, utilizing a quality lubricant is critical. While current mineral oil lubricants perform well, synthetic gear oils have various advantages. These include increased viscosity-temperature for greater performance and wear prevention at severe temperatures, as well as improved thermal and oxidation resistance, allowing for considerably longer oil life and deployment at high temperatures. It also improves low-temperature performance, resulting in lower churning losses and better wear protection.
As industrial gear oil provides better lubricity and prevents rust and corrosion in gears, it is widely used in construction machinery and equipment such as bulldozers, cranes, excavators, and concrete mixers.
Industrial gear oil is essential for smooth gear changes in manual transmissions and differentials because it provides load resistance, anti-oxidation, anti-corrosion, and anti-foam qualities. It is also utilized in hydraulic excavators’ travel and swing reduction gears to improve machine performance, making it a critical component of industrial and construction equipment in a fast-developing industry.
The rising trend of energy efficiency in numerous sectors is predicted to generate demand for gear oils that may minimize friction and energy consumption. This has resulted in the creation of gear oils that can improve fuel efficiency and lower carbon emissions.
The US Environmental Protection Agency (EPA) estimates that transportation fuel use accounts for approximately 29% of total US greenhouse gas emissions. As a response, the EPA has put in place restrictions like the Corporate Average Fuel Efficiency (CAFE) requirements to increase fuel efficiency and minimize vehicle emissions. This has resulted in the creation of gear oils that can improve fuel efficiency and lower carbon emissions.
The base oil in gear oils might be mineral oil, synthetic oil, or a combination of the two. Mineral-based gear lubricants are generated from crude oil and provide enough lubrication at a reduced cost. Synthetic gear oils, on the other hand, are chemically developed to give greater performance, such as a higher viscosity index, increased thermal stability, and enhanced wear prevention, particularly in harsh environments.
According to the International Energy Agency, the year-on-year change in worldwide electricity demand has directly or indirectly influenced the market for gear oils. In 2023, the electricity demand was 2.60%, which increased to 3.10 in 2024. It is further forecasted that the electricity demand will increase to 3.30% in 2025, according to the research.
Figure 3: Global Year-On-Year Electricity Demand in Percentage, 2023-2025
Source: International Energy Agency
Environmental regulations should govern the selection and disposal of gear oils to minimize their impact on ecosystems and human health. Some gear oils may contain additives or base oils that are biodegradable or environmentally friendly, making them suitable for applications where environmental stewardship is a priority.
It is a critical component in vehicle gearboxes, differentials, and transfer cases. It lubricates the gears and bearings, providing smooth shifting and protecting them from wear and damage. Differentials transfer power from the engine to the wheels, guaranteeing smooth functioning. In transfer cases, power is transferred between the front and rear axles, depending on the terrain.
These oils contain additives that form protective films on metal surfaces, preventing direct contact between mating parts and reducing wear. Anti-wear additives, such as zinc dialkyl dithiophosphate (ZDDP), are commonly used to provide additional protection under high-pressure conditions, especially in gears subjected to heavy loads and sliding contact.
Gear oils are designed to resist the high pressures and stresses encountered by gear teeth during operation. Extreme pressure (EP) additives, such as sulfur-phosphorus compounds, are used in gear oil formulations to generate chemical coatings that prevent metal-to-metal contact and reduce wear, especially in gears working under strong or shock loads.
Viscosity is an important feature of gear oils because it affects their capacity to maintain a lubricating coating between moving surfaces under varying operating circumstances. Gear oils are available in a variety of viscosity grades, which are normally determined by equipment manufacturers depending on load, speed, temperature, and gear type. Choosing the right viscosity grade enables optimal lubrication and prevents excessive friction and wear.
Asia Pacific is experiencing exponential expansion. The region’s key emerging nations, notably China, India, and ASEAN, are driving demand for gear oils. Because of continuing development projects and population expansion, power consumption has increased over time.
The gear oil market is highly competitive, with numerous manufacturers, suppliers, and distributors competing based on product quality, performance, price, and brand reputation. Key players in the market often invest in research and development activities to innovate and differentiate their product offerings.
The need for gear oils is intimately related to industrial operations such as manufacturing, building, mining, and electricity generation. As companies develop and modernize, there is an increased demand for efficient and dependable gear lubrication solutions to maintain smooth operation and reduce equipment downtime.
In conclusion, the gear oil market is predicted to rise gradually, propelled by industrial expansion, automobile production, infrastructural development, technical improvements, and regulatory compliance. However, market dynamics, economic conditions, and geopolitical considerations might all have an impact on the gear oil industry’s growth trajectory in the next years.
Table 1: Key Developments
| Year |
Development |
| November 2023 |
ExxonMobil had begun production at Payara, Guyana’s third offshore oil development, bringing its total production capacity to 620,000 barrels per day. The Prosperity vessel projected to achieve 220,000 barrels per day in the first part of next year, marked the third key step towards achieving a total production capacity of over 1.2 million barrels per day on the Stabroek Blocked by the end of 2027. |
| August 2023 |
Chevron finalized its acquisition of PDC Energy, Inc. with shareholder approval. The acquisition comprises 275,000 net acres in the Denver-Julesburg Basin, which added over 1 billion barrels of oil equivalent proven reserves, as well as 25,000 net acres in the Permian Basin that was then in production. |
Source: Knowledge Sourcing Intelligence Analysis
The Surge in the Industrial Radiography Market
BlogThe industrial radiography market is predicted to grow at a CAGR of 6.45% during the forecast period to reach US$939.316 million by 2027, from US$606.399 million in 2020.
Industrial radiography is a type of non-destructive testing technique that ionizing radiation for the inspection of materials and components to track down and quantify abnormalities and degradation in the material characteristics that can cause the failure of structural components. It is extremely critical to the science and technology that are required to ensure the quality and reliability of the product. This modality exploits the characteristics of X-rays, neutrons, and gamma rays to penetrate numerous amounts of materials. Industrial radiography finds usage in a broad range of applications right from the maintenance of aircraft to food inspection, casting parts, counterfeit drug control, welding, composite piece inspection, and coating thickness measurement, among others. The burgeoning demand for industrial radiography in sectors like manufacturing, automotive, power generation, and aerospace is projected to drive the market growth substantially. The industrial radiography market landscape is segmented into various applications, types of imaging techniques, and geographical regions.
Growing demand for industrial radiography methods in a plethora of industries to drive market growth
Non-destructive industrial radiography methods are increasingly being employed and thus, have progressively evolved as a critical tool owing to their versatile range of applications in a wide range of industries. From quantifying, qualifying, and inspecting malfunctions and anomalies for the access of internal and external geometric features, industrial radiography has a plethora of applications based on the size, type and also, the inspection criterion for the materials. Examples of these applications include preproduction qualification during manufacturing, structural integrity analysis and packaging in the packaging industry, ballistics in the automotive sector, and stints in medical devices. The rising number of nuclear power plants is also a factor contributing to the inclining demand for industrial radiography. In accordance with the Nuclear World Organisation, there are around 441 operable nuclear power reactors across the globe, as of May 2022. Furthermore, approximately 53 reactors are currently under development, while 325 more are currently under proposal.
The strategic developments undertaken by key players to meet the soaring demand for the industrial radiography market and improve their brand presence are further catalyzing the growth of the market. For instance, North Star Imaging in June 2020, relocated its X-ray inspection business to a new and larger site in California. The new site was reported to be equipped with a huge space and warehouse, and also, an X3000 and two X5000. The latter two devices aid the new facility in scanning objects, from micron-sized objects to objects that are as huge as a 50-gallon barrel. Another example of this is the launch of a high-energy CT scanner in December 2020, by Wagayate Technologies, which is a global leader in inspection solutions. This CT system, Phoenix Power Scan HE, could scan and detect internal attributes of very high-density critical components. The 9 MeV machine measures about 2 meters in diameter and height.
North America and Europe are expected to hold a dominant share of the market
Geographically, this market is segmented into North America, South America, Europe, the Middle East, Africa region, and the Asia Pacific region. The robust growth of the aerospace and automotive industries promises high demand for industrial radiography in the regions. The growth in the North American and European regions can primarily be attributed to the presence of some of the largest aerospace segments in the United States and the United Kingdom. Further, Mexico and Germany are known to house a large number of automotive giants. The rising concerns regarding the environment and the strict rules and regulations being deployed by the governments in order to decrease the consumption of non-renewable resources are some factors contributing to the rising demand for industrial radiography techniques in power plants. This further adds fuel to the growth of the industrial radiography market in these regions. The growing developments in some countries like China, India, as well as Japan are rapidly propelling the growth of this market in the Asia Pacific region. The presence of industry giants like COMET Group, FunjiFilm Holdings, and General Electric in the above-mentioned regions is further expected to drive market growth.
Factors restraining growth
Factors like high deployment costs along with the risk of extremely high radiation exposure associated with the growing use of industrial radiography are likely to slow down the growth of the market. Further, the lack of skilled human resources is anticipated to be another factor that could impact the industry unfavourably. Owing to the high technical requirements, it is a challenge to find and train people that are well suited for employment, thus posing a constraint on market growth.
The impact of COVID-19 on the Industrial Radiography Market
The outbreak of the COVID-19 pandemic affected the industrial radiography market very negatively. Most of the manufacturing industries across the world had to temporarily close down due to the nationwide lockdowns that were mandated across multiple countries. Further, the surge in the number of active cases and the social distancing measures resulted in reduced staffing, which led to a reduction in productivity. The recession in the global economy caused due to the pandemic forced many companies to pause all their ongoing projects. Due to all these factors, the demand for the industrial radiography market went down because of the outbreak of the coronavirus.
Industrial Radiography Market Scope:
The Future of Gear Oils: Trends and Innovations
Thought ArticlesGear oils are required for the smooth functioning and maintenance of this equipment. They are designed to satisfy certain performance criteria, such as temperature resistance, load-bearing capability, and wear protection. The gear oil industry is extremely competitive, with several global and regional firms participating.
Gear oil, often known as gear lubricant, is a lubricating oil that is particularly designed for use in gearboxes, differentials, and other gear systems. They are intended to decrease friction, wear, and heat generation inside gear assemblies, resulting in smooth operation and increasing the life of gears and bearings.
Companies in this industry prioritize product innovation, distribution channel growth, and strategic collaborations to increase market share and remain competitive. The gear oils market is likely to expand in the next years, driven by rising demand for high-quality lubricants in a variety of sectors, technical improvements, and a shift towards energy-efficient and ecologically friendly lubricants.
Gear oils come in a variety of viscosity grades, which manufacturers normally specify based on the gear system’s working circumstances and needs. The oil’s viscosity impacts its flow resistance as well as its capacity to maintain a lubricating coating between moving surfaces under varying loads and temperatures.
According to the International Organization of Motor Vehicle Manufacturers, global sales of all types of automobiles rose from 78.79 million in 2020 to 1.63 million in 2022. Thus, the substantial increase in car sales contributes to the increasing demand for gear oils.
Figure 1: Global Vehicle Sales in Million, 2020-2022
Source: International Organization of Motor Vehicle Manufacturers
Wind turbines use gear oils to lubricate their primary gearboxes and other gear motor components. This is due to the high temperatures, heavy loads, oxidation and corrosion, and bearing wear that occur throughout the power production process.
The usage of performance additives in synthetic oil formulation to satisfy particular criteria has resulted in a rise in demand for synthetic gear oils in wind turbines due to their better properties over mineral-based alternatives.
Globally, the quantity of electricity generated by wind energy is rapidly increasing, and the installed capacity of wind turbines grows year after year. The drop in offshore industry pricing has helped to boost the wind power production market by stimulating investments in Europe, North America, and Asia-Pacific. This is expected to drive up demand for gear oils during the projected period.
According to the Global Wind Energy Council, 78 GW of wind generation capacity is to be added to electricity networks in 2022, which will further increase to 115 GW in 2023. It is expected to reach 125 GW in 2024, 135 GW in 2025, 150 GW in 2026, and 157 GW in 2027.
GWEC estimates 680 GW of additional worldwide wind capacity between 2023 and 2027, with 130 GW offshore. China leads with 300 GW, followed by Europe with almost 100 GW. Offshore wind will play an important role, with over 60 GW installed between 2023 and 2025 and 68 GW in 2026-2027.
Figure 2: Global New Wind Power Capacity Installation in GW, 2022- 2027
Source: Global Wind Energy Council
Gear systems are becoming more difficult since they have very accurate cut teeth and nicely polished surfaces. Furthermore, because they are smaller, the teeth and bearings are subjected to more stress. These stresses, along with vibration and shock, can cause frequent gear pitting (particularly micro pitting) in surface-hardened gears.
Furthermore, the systems work at high temperatures. For all of these reasons, utilizing a quality lubricant is critical. While current mineral oil lubricants perform well, synthetic gear oils have various advantages. These include increased viscosity-temperature for greater performance and wear prevention at severe temperatures, as well as improved thermal and oxidation resistance, allowing for considerably longer oil life and deployment at high temperatures. It also improves low-temperature performance, resulting in lower churning losses and better wear protection.
As industrial gear oil provides better lubricity and prevents rust and corrosion in gears, it is widely used in construction machinery and equipment such as bulldozers, cranes, excavators, and concrete mixers.
Industrial gear oil is essential for smooth gear changes in manual transmissions and differentials because it provides load resistance, anti-oxidation, anti-corrosion, and anti-foam qualities. It is also utilized in hydraulic excavators’ travel and swing reduction gears to improve machine performance, making it a critical component of industrial and construction equipment in a fast-developing industry.
The rising trend of energy efficiency in numerous sectors is predicted to generate demand for gear oils that may minimize friction and energy consumption. This has resulted in the creation of gear oils that can improve fuel efficiency and lower carbon emissions.
The US Environmental Protection Agency (EPA) estimates that transportation fuel use accounts for approximately 29% of total US greenhouse gas emissions. As a response, the EPA has put in place restrictions like the Corporate Average Fuel Efficiency (CAFE) requirements to increase fuel efficiency and minimize vehicle emissions. This has resulted in the creation of gear oils that can improve fuel efficiency and lower carbon emissions.
The base oil in gear oils might be mineral oil, synthetic oil, or a combination of the two. Mineral-based gear lubricants are generated from crude oil and provide enough lubrication at a reduced cost. Synthetic gear oils, on the other hand, are chemically developed to give greater performance, such as a higher viscosity index, increased thermal stability, and enhanced wear prevention, particularly in harsh environments.
According to the International Energy Agency, the year-on-year change in worldwide electricity demand has directly or indirectly influenced the market for gear oils. In 2023, the electricity demand was 2.60%, which increased to 3.10 in 2024. It is further forecasted that the electricity demand will increase to 3.30% in 2025, according to the research.
Figure 3: Global Year-On-Year Electricity Demand in Percentage, 2023-2025
Source: International Energy Agency
Environmental regulations should govern the selection and disposal of gear oils to minimize their impact on ecosystems and human health. Some gear oils may contain additives or base oils that are biodegradable or environmentally friendly, making them suitable for applications where environmental stewardship is a priority.
It is a critical component in vehicle gearboxes, differentials, and transfer cases. It lubricates the gears and bearings, providing smooth shifting and protecting them from wear and damage. Differentials transfer power from the engine to the wheels, guaranteeing smooth functioning. In transfer cases, power is transferred between the front and rear axles, depending on the terrain.
These oils contain additives that form protective films on metal surfaces, preventing direct contact between mating parts and reducing wear. Anti-wear additives, such as zinc dialkyl dithiophosphate (ZDDP), are commonly used to provide additional protection under high-pressure conditions, especially in gears subjected to heavy loads and sliding contact.
Gear oils are designed to resist the high pressures and stresses encountered by gear teeth during operation. Extreme pressure (EP) additives, such as sulfur-phosphorus compounds, are used in gear oil formulations to generate chemical coatings that prevent metal-to-metal contact and reduce wear, especially in gears working under strong or shock loads.
Viscosity is an important feature of gear oils because it affects their capacity to maintain a lubricating coating between moving surfaces under varying operating circumstances. Gear oils are available in a variety of viscosity grades, which are normally determined by equipment manufacturers depending on load, speed, temperature, and gear type. Choosing the right viscosity grade enables optimal lubrication and prevents excessive friction and wear.
Asia Pacific is experiencing exponential expansion. The region’s key emerging nations, notably China, India, and ASEAN, are driving demand for gear oils. Because of continuing development projects and population expansion, power consumption has increased over time.
The gear oil market is highly competitive, with numerous manufacturers, suppliers, and distributors competing based on product quality, performance, price, and brand reputation. Key players in the market often invest in research and development activities to innovate and differentiate their product offerings.
The need for gear oils is intimately related to industrial operations such as manufacturing, building, mining, and electricity generation. As companies develop and modernize, there is an increased demand for efficient and dependable gear lubrication solutions to maintain smooth operation and reduce equipment downtime.
In conclusion, the gear oil market is predicted to rise gradually, propelled by industrial expansion, automobile production, infrastructural development, technical improvements, and regulatory compliance. However, market dynamics, economic conditions, and geopolitical considerations might all have an impact on the gear oil industry’s growth trajectory in the next years.
Table 1: Key Developments
Source: Knowledge Sourcing Intelligence Analysis
Vivid Era of Gamers Are Spurring the Mechanical Keyboards Market
Thought ArticlesThe global mechanical keyboard market is anticipated to grow at a compound annual growth rate of 13.53% from US$1,088.489 million in 2020 to US$2,645.646 million by 2027.
A mechanical keyboard is made with high-quality, spring-used key buttons. These key switches differ depending on the requirements or user-friendliness of the keyboard. The first widely available keyboards, such as IBM’s Model M in the 1980s, used mechanical switches; however, the 1990s saw a massive influx of low-cost rubber dome keyboards that inundated the keyboard market. Mechanical keyboards set a new precedent in every way. Compared to conventional rubber dome keyboards, mechanical keyboard switches, functionality, type print methods, key construction, PCB board, LED lighting, framing, and a slew of other features are superior. The majority of these enhancements ultimately come down to one factor: feel. Mechanical keyboards are merely more comfortable than rubber dome keyboards.
Gamers Are Anticipated to Drive the Growth of the Mechanical Keyboard Market Globally
As per the data of the Entertainment Software Association, which is a major video game player in 2021, Video games are played by nearly 227 million Americans. Two-thirds of adults and three-quarters of children under 18 play video games weekly. Eighty percent of all players are of 18+ age, and the average age of a video game player is 31. Overall, players are roughly half female (45 percent) and half male (55 percent ). Players (89 percent) agree that video games can bring diverse people together and create accessible perspectives for individuals with diverse abilities (89 percent ).
The below chart rightly configured the usage of Gen X and Millennial internet bandwidth as every then and now there is a gamer around who is investing their time in these platforms; hence it calls for the comfortability with a variety of features in a single stroke though expected to spur the demand for mechanical keyboard in the gaming sector.
Current
Peak
Total Bandwidth Used:
9.4 Tbps
11.9 Tbps
North America
945.6 Gbps
4 Tbps
Europe
2.1 Tbps
4 Tbps
Asia
4.9 Tbps
5.1 Tbps
Russia
680.2 Gbps
917.2 Gbps
South America
191.2 Gbps
1.1 Tbps
Oceania
243.2 Gbps
311.4 Gbps
Middle East
229.2 Gbps
373.8 Gbps
Africa
39.4 Gbps
59.5 Gbps
Central America
11.4 Gbps
55 Gbps
Source: Steam Stats
Development Plays the Major Role
The advancement in gaming technology is expected to boost the market for mechanical keyboards. Envy Gaming has signed Razer as an official peripherals partner in this gaming league. In March 2022, Razer, the world’s leading lifestyle brand for gamers, announced a multi-year, multi-faceted sponsorship with popular esports and entertainment group Envy Gaming. This broad collaboration will lead to collaborative efforts across numerous Envy and OpTic Gaming teams.
The Razer Huntsman V2 line was revealed in September 2021, with upgrades and advancements to create the world’s fastest, most advanced optical gamers keyboards. Razer’s 2nd generation Optical Switches, Razer 8k HyperPolling Innovation, and Doubleshot PBT keycaps and enhanced acoustics are unique updates added as an outcome of players and community input.
In the trail of advancement and innovation, Logitech is no behind; in May 2022, Logitech augmented its Master Series with two additional mechanical keyboards, the MX Mechanical Mini and MX Mechanical, and the MX Master 3S mouse. Logitech’s Master Package includes advanced digital creators’ supreme productivity toolkits such as high-performance mechanical typing and precision monitoring.
Products Available in Market
Logitech POP Key: Moreish experience typing on qwerty keyboard mechanical keys. Feel fingers bounce throughout the keys with each press and hear the mechanical switches tap, squeak, and pop. For a snug and smooth touch-typing, scooped round-shaped keys fit the shape of fingertips.
Logitech K845:The cabled keyboard K845 Mechanical Illuminated combines accurate workings with a modern aluminum design. That can work comfortably for hours with a customizable angle, mechanical switches, and five backlighting offerings. It’s a sensational keyboard that is now complied with the workplace.
FX51 Scissor Switch Keyboards: Scissor Key Switch Keycaps provide a seamless tactile response to each keystroke. Precision calibration, 1.5mm actuation point, and less key chatter. With FN + F1 to F12, the user can access 12 multimedia and internet operations with a single touch.
K70 PRO Mechanical Gaming Keyboard: The Corsair K70 is a great gamer’s keyboard. Its MX Speed switches have a low input force, causing the keys extremely sensitive and easy to press. The board has very little range of motion, the form factor is good, and there are backlit keyboards, though it is confined to a particular color.
Soaring Demand in Gamers Leads to the Development of Innovation
Innovation leads to inventions, and so is the case with the market as well the more demand for new components leads to more product line launches. Study Conducted by Cybeculture Newsletter, the percentage of daily and weekly online players is 23% each, whereas monthly and several times a year are 7% and 5% share only.
The age group involved in playing games online fall I 18-24, 25-34 and34-44 years mostly. The use of laptops and desktop for playing games are 14%, 41%, and 31%, respectively. This means gamesters are expected to push the growth of the Mechanical Keyboard Market Globally.
Global Mechanical Keyboard Market Scope:
Micro-LEDs Unveils a New Era of Streaming Experience
BlogThe global mini-LED market is expected to grow at a compound annual growth rate of 73.28% over the forecast period to reach a market size of US$ 1,063.574 million in 2026 from US$39.290 million in 2020.
Mini-LEDs, as the name implies, are smaller diodes with dimensions less than 0.2mm, though these dimensions are not strictly enforced in consumer electronics. A TV, for instance, has an LCD panel, has an LED backlighting installed, and the panel is used to regulate in which area the light is displayed on the screen. Depending on what’s on the screen, the LEDs are either fully lit or dimmed for dark scenes, for instance. Installing more smaller LEDs behind the LCD enables the projection of brighter images. Backlighting control can thus be more precise. It offers more control, resulting in less backlight bleed and higher contrasts.
To put it simply, mini-LEDs are a more efficient technique for backlighting an LCD panel. The concept behind Mini LED, as mentioned above, is to achieve the level of black depth that OLED panels can provide while also delivering high levels of contrast, color accuracy, and brightness. While traditional LEDs are used for lighting and as a backlight system for the display screens, Mini LEDs are used for backlight applications in displays for power savings and thinner HDR displays. When the size of an LED is reduced, it, naturally, becomes dimmer. This implies that the Mini LED can produce the same amount of light while using less energy. The Mini LED display has better control over local brightness and can thus brighten and darken specific areas of the screen at the same time.
The burgeoning global mini-led market landscape is segmented by technology, application, and geographical regions.
Analysts anticipate that the growing demand for micro-LEDs in consumer electronics and automotive industries will propel the market forward.
As of late, mini-LEDs are gaining much traction due to their appealing features. Mini LEDs have a lot more to offer than conventional ones. For starters, Mini LED panels improve contrast ratios. The increase in contrast ratio is entirely due to the tremendous increase in overall dimming zones. Local dimming is essential in LED LCD panels for it makes blacks appear deeper, resulting in a higher contrast ratio. LG’s 86-inch Mini LED 8K TV launched in 2021, for instance, boasts a tenfold increase in contrast ratio over conventional LCD TVs. The advancing technologies have further made the market more competitive. Different manufacturers are employing innovative technologies to offer a better offering in the market. For instance, in March 2022, Samsung launched NEO QLED 8K and 4K TVs. The Quantum Mini LED light source now has 14-bit HDR mapping to add more detail in extremely bright or dark scenes. To improve image quality, even more, Shape Adaptive Light is added to the Quantum Matrix technology that regulates the Mini LEDs. Similarly, in May 2022, TCL launched 3rd gen Mini-LED TVs. TCL X925 Pro, a member of TCL’s new XL Collection, features an 85-inch 8K OLED panel with OD Zero mini-LED backlight technology. According to the company, this new television will provide smoother and more precise image quality. Its thickness is less than 10mm, making it one of the thinnest TVs on the market. That makes a massive difference in the streaming experience! Furthermore, the mini-LEDs can be mass-produced efficiently and quickly than traditional LEDs, but they also cost 70-80 percent cheaper than that OLED panels. They offer a dynamic range, providing significant potential when coupled with LCDs.
Although Mini LED is found in many of today’s newest TVs, it is also found in other devices with screens. Apple has employed Mini LED technology in its all-new MacBook Pro 14-inch, launched in 2021, and iPad Pro, with reports indicating that it may be included in Apple’s MacBook Air 2022 and new MacBook Pros as well. With Apple actively incorporating Mini LED into its latest offerings, these diodes can be seen in the future, in addition to TVs from other brands.
Furthermore, with the rapid penetration of innovative technologies like IoT and AI, the demand for micro-LEDs in the automotive segment is also expected to witness significant growth, owing to the increasing adoption of LED panels in automotive vehicles. Additionally, many automobile manufacturers are also incorporating local dimming and HDR technologies for the displays to offer high contrast ratio.
The Asia Pacific and North America are expected to occupy a significant market share in the forecasted period.
By geography, the global mini-LED market landscape is segmented as follows: The Americas, Europe Middle East and Africa, and the Asia Pacific. Analysts anticipate North America to have a significant market share. This growth could be attributed to well-developed economies and the increased spending of the consumers in the regions on mini-LEDs Televisions. According to the statistics derived from the Global Smart TV Report by ‘Indian Television Dot Com,’ smart television penetration is expected to increase by 51% by 2026, with smart television ownership reaching approximately 1.1 billion homes across the 88 countries included in the report. At the same time, Asia Pacific is expected to witness the fastest growth in the upcoming years for the micro-LEDs market. The countries like India, China, and South Korea, among many others residing in the regions, are expected to occupy a dominant market share. With the presence of major players like Apple, Samsung, TCS, General Motors, AUO, and many others actively installing micro-LEDs in their offerings, the market size is expected to an upward trend in the coming years.
Covid-19 Insights
The global pandemic had a significant impact on the global mini-LED market. The mandated lockdowns and social distancing led to the closure of many production facilities. The rapid surge of active infected cases had affected the staffing among many companies, further slowing down the productivity. Consequently, due to the economic recession observed across the period owing to the pandemic, many firms were forced to briefly halt or postpone many of their strategic plans. The international travel restriction, too, negatively affected the import and export of several nations, creating a gap in the supply and demand chain. Furthermore, mini-LED end-user industries like automotive, consumer electronics, and advertisement industries too took a heavy toll amid the pandemic.
Capturing the Growth of Marine Compressor Market
Thought ArticlesThe global marine compressor market is projected to grow at a CAGR of 2.61%, from US$2.905 billion in 2021 to US$3.479 billion in 2028.
In ships and other vessels that go to sea, a marine compressor is one of the accompanying pieces of auxiliary equipment. In both the engine and deck departments, they are used to produce compressed air for various applications. Ships use compressors for a variety of reasons. In a compressor, air or any other fluid is compressed to reduce their volume and increase their pressure. As an essential component or feeder equipment, marine compressors are utilized in various systems. Their work ranges from small tasks such as cleaning the filters to larger ones such as starting the primary and secondary engines. Over the forecast period, marine compressors are expected to be used in a wide variety of applications.
Various Applications of Marine Compressor:
Compressors for marines are normally divided into four groups based on their intended use: main, deck, emergency, and topping up. The design of marine air compressors takes into account the ship’s environment. Typically, these machines must endure wet conditions, salt in the water, and exposure to the air. Using an air compressor that isn’t built for these conditions can cause the device to malfunction or even be a safety hazard. Primary and auxiliary engines on a ship are started by the ship’s main air compressor. An appropriate tank is used to store pressurized air, which is released to supply power for engine operation. In general, high capacity compressors are used, since starting the engines requires a significant amount of power.
The deck of a boat is home to numerous uses for marine air compressors. The capacity of these systems is usually lower owing to their small size. Pneumatic power tools can be operated with air compressors, which allow for some changes and repairs to be completed offshore while on board. They can help in case of an emergency by operating fire pumps. In an emergency situation, ships that are at sea generally must handle emergencies on their own, so having adequate systems to deal with situations like a fire is vital to the integrity of the ship and the crew’s safety. In the event of an emergency, an emergency air compressor provides backup energy. They provide power for backup compressors if the main one fails. The purpose of marine air compressors is to compensate for any leaks in the system by topping them up. Monitor devices provide information on the current pressure within the system through their connection to these pressure sensors. The topping up compressor works to restore the desired level of pressure when it falls below a specific level.
Market Growth Will Be Driven by an Increase in the Number of Ships
An increase in the number of ships globally can be attributed to growing tourism, a rise in leisure activities, and an increase in international trade. These activities are spurring the companies to constantly add ships to their inventory to meet the increasing demand. In addition to the increase in ships, each ship will require a marine compressor, which further enlarges the maritime compressor market. Tourism in coastal and marine areas is projected to generate 26% of the ocean economy’s value by 2030, at a growth rate of more than 3.5%. Tourism is a strong contributor to the economy and well-being of many regions, including the Caribbean and Southeast Asia, which both benefit from this growth, especially as more people in places like China and elsewhere are able to travel abroad. (Source: World Bank)
According to the United Nations Conference on Trade and Development (UNCTAD), the volume of global seaborne trade should increase by 3.5% annually over the next decade, up from 10.7 billion tons in 2017. The Shanghai Containerized Freight Index (SCFI) shows an import surge in September 2020, following the surge from July and August. There was a 3.3 % increase in spot rates on the West Coast of the United States to USD 3,758 per FEU, compared to USD 1,566 per FEU in September 2019. During the same time period, the East Coast spot rate jumped by 7.9 % to USD 4,538 per FEU, up 72.5 % over 2019. Yangzijiang Shipbuilding, a Chinese conglomerate, has been ordered to build 10 dual-fuel containerships with 14,000 TEU each for a USD 1.15 billion price tag.?As part of its agreement to acquire Huntington Ingalls’ San Diego Shipyard, Titan Acquiring Holdings has purchased the company.
Marine Compressors Have Several Benefits
The use of marine compressors on ships and other ocean-going vessels provides several benefits. A compressor provides benefits including starting air for machines and engines, reducing volume and increasing air pressure, as well as acting as a control valve. It is expected that marine compressors will drive market growth during the forecast period because of the benefits associated with their use.
Market Growth Will Be Hindered by High Costs
Maritime compressors are highly expensive to install and maintain, which may limit their growth during the forecast period. Initial installation costs are extremely high since the compressor must be purchased along with skilled labour. Regular maintenance is also required to ensure the smooth functioning of the marine compressors, increasing the associated costs.
Sea Freight Rates May Also Hamper the Growth of the Market
As a result of equipment shortages and a reduction of vessel capacity, sea freight rates have increased considerably in recent years in developing economies, such as the Indian subcontinent. There is currently a shortage of empty containers due to the surge in demand for goods that need to be shipped by sea; this has consequently driven the freight rates up, which might restrain the market growth. The pandemic has caused an imbalance between supply and demand, which has resulted in price pressures among all oil-producing nations.
In addition, shortages of empty containers and surging demand for goods are other reasons for distribution going haywire, as well as the skyrocketing freight rates. In the first half of 2020, when production was stopped by the pandemic, companies stepped up manufacturing to keep up with demand. Similarly, due to the pandemic-related disruptions of the aviation industry, ocean shipping became the main transportation means for getting goods to market.
Impact of COVID-19 Pandemic
Covid-19 spurred a rise in the demand for sea cargo and freight as medical products such as disposable masks, gloves, Personal Protective Equipment kits, oxygen tanks, oxygen concentrators, etc. rose across the globe overnight, particularly in developing countries like India. To meet the increased demand for these products, governments of developing nations import them internationally. In order to import large amounts of products, sea routes were used, which augmented sea freight market growth, which in turn added to the market growth for marine compressors.
Marine Compressor Market Scope:
Coagulation Analyzer Market is projected to grow at a CAGR of 5.91% to reach US$5.144 billion in 2029
Press ReleasesThe coagulation analyzer market is forecasted to expand at a compound annual growth rate of 5.91%, with an estimated value of US$5.144 billion by 2029, up from US$3.441 billion in 2022.
As per the report, the market for coagulation analyzer is expected to surge during the forecast period.
A coagulation analyzer is utilized to measure blood platelet levels and blood samples in order to determine the coagulation time of blood. Coagulation analyzer typically includes semi-auto coagulation analyzer, full-auto coagulation analyzer which are used in diagnosing and evaluating bleeding disorders like hemophilia, as well as in monitoring patients undergoing anticoagulant therapy.
The market expansion has been driven by the increasing number of elderly individuals. For instance According to United Nations report 2023 the global population of individuals aged 65 years or above is forecasted to surpass double, increasing from 761 million in 2021 to 1.6 billion in 2050. The demographic of individuals aged 80 years or above is experiencing an even more rapid growth. In 2021, the proportion of individuals aged 65 or above worldwide stood at 1 in 10. However, projections indicate that by 2050, the age group will make up 1 in 6 people on a global scale.
The coagulation market has been categorized based on type, test, technology, end-user, and geography.
As per the type category, the market has been classified into semi-auto coagulation analyzer full-auto coagulation analyzer, other. Fully automated analyzers demonstrate exceptional efficiency and precision. By minimizing the need for manual intervention, decrease the likelihood of errors, making well-suited for handling large sample volumes. Moreover, functions such as auto-calibration and data management contribute to improved accuracy and facilitate streamlined record-keeping.
As per the test category, the market has been classified into fibrinogen testing, d-dimer testing platelet function tests, others. It is crucial to consider all three tests when assessing an individual’s health. Fibrinogen testing is used to analyze clot formation, D-dimer testing aids in ruling out blood clots, and platelet function tests are essential in evaluating the risk of bleeding.
As per the technology category, the market has been classified into optical technology, mechanical technology, electrochemical technology, others. Optical technology stands out among other methods in coagulation analyzers because of its multitude of benefits. It provides accurate and unbiased measurements by detecting alterations in light, reducing the chances of human error, and enabling the early detection of clots.
As per the end-user category, the market has been classified into hospital, diagnostic centres, others. Coagulation analyzers play a vital role in hospitals as they make invaluable contributions to patient care. These analyzers assist in the diagnosis and monitoring of blood clotting disorders, providing crucial guidance for important decisions such as transfusions and surgeries. With their rapid and precise results, they facilitate timely interventions, and their extensive capabilities allow for comprehensive evaluations of different clotting factors.
The North American coagulation analyzer market is anticipated to experience substantial growth in the forecasted timeframe. escalating healthcare costs enhances coagulation analyzer market. According to Centers for Medicare and Medicaid Services published article in December 2023 health care spending in the United States increased by 4.1% in 2022, totalling $4.5 trillion. The growth rate was higher than the 3.2% increase in 2021, but significantly lower than the 10.6% surge observed in 2020. The rise in spending for 2022 was primarily driven by substantial increases in Medicaid and private health insurance expenditures. In 2022, retail sales of various non-durable medical items, including over-the-counter medications, medical tools, and surgical dressings, rose by 8.5% to reach $115.4 billion. This growth rate was lower compared to the 12.3% increase observed in 2021.
As a part of the report, Roche, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Siemens Healthcare GmbH, Abbott, Beckman Coulter Diagnostics, Helena Laboratories Corporation, Meril Life Sciences Pvt. Ltd., Trivitron Healthcare, Symex are the major players in the coagulation analyzer market.
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This coagulation analyzer market has been analyzed into the following segments:
Harnessing the Power of Induction Motors for Sustainable Energy Solutions
Thought ArticlesAn induction motor works on the principle of electromagnetic induction, in which an alternating current is passed through coils wound around a stationary component called the stator, and a rotating magnetic field is generated within the motor. It is a type of alternating current (AC) electric motor used in various applications, such as household appliances and industrial machinery.
Induction motors have several qualities that make them widely used in many applications, such as reliability, ruggedness, and simplicity. A variety of induction motors are available based on different types and designs, including various sizes and power ratings to suit different requirements, squirrel cage and wound rotor designs, and single-phase and three-phase configurations.
Global Production Trends
The production of induction motors is growing with the rise in infrastructure development and industrialization across the globe in several emerging economies. The growth of industrialization can be seen most in the Asia Pacific region, with emerging economies like China and India, where production units are rapidly increasing with the launch of programs like Make in India by the Indian government, which is closely related to the need for induction motors for efficient production processes.
In recent years, there has been a notable increase in the regulations by the government for the need for energy efficiency to reduce harmful impacts on the environment. These regulations have driven several major manufacturers to switch to producing more energy-efficient and advanced induction motors. The regulations have also led to several major industries adopting these highly efficient induction motors in their production processes.
As technology advances across several industries, induction motor technology is also advancing with time by improving the motor design, materials, and manufacturing processes, which results in improved performance, reliability, and lifespan. Several advancements are made in induction motors such as the integration of smart technologies for predictive maintenance and condition monitoring, variable frequency drives or VFDs, and advanced control systems.
There is a significant increase in the adoption of renewable energy technologies across the globe with the growing need for energy efficiency and reduced footprint to save the environment. This includes several sources, such as wind and solar power, which have grown the demand for induction motors used in renewable energy systems and are commonly used in wind turbines and solar tracking systems due to their reliability and ability to operate in harsh environments.
The major growth in the automotive industry across several countries has also contributed to an increase in the demand for induction motors especially with recent growth in the popularity of EVs or electric vehicles. The growth in demand for EVs has influenced the production trends of induction motors proportionally as they are used in EV propulsion systems. For instance, in 2022, sales of EVs in Canada hit a six-month record, with nearly 56,000 units sold.
Induction Motors Use Case
The induction motors have several use cases that are boosting their production and market around the globe for their reliability, simplicity, and cost-effectiveness. The use cases include industrial applications where induction motors are used for their ability to operate in harsh environments, low maintenance, and robust construction and are used for conveyor systems, fans, compressors, driving pumps, and other machinery present in the industrial setting.
There is a growth of urbanization across several countries in emerging economies where there are a lot of new commercial buildings, industrial facilities, and residential complexes being constructed, and they all need Heating, Ventilation, and Air Conditioning (HVAC) systems. These HVAC systems use induction motors in the production process to power air handlers, blowers, and pumps and use their energy efficiency and reliability that contribute to the overall performance of HVAC systems.
These induction motors are used in EVs to offer high torque density, smooth operation, and reliability. They are also used in several household appliances such as washing machines, refrigerators, air conditioners, and kitchen exhaust fans to provide efficient and reliable operation, in wind turbines for electricity generation as they can face harsh environmental conditions, and in water treatment plants for processes such as filtration, sedimentation, and disinfection.
Moreover, in mining operations, the induction motor is significant as they drive equipment such as crushers, conveyors, and hoists and handle heavy loads that make them suitable for demanding mining environments, these are also used in the oil and gas industry to power pumps for crude oil extraction, pipeline transportation, and refining processes, they are used in drive machine tools such as lathes, milling machines, and grinders in manufacturing facilities, and used in agricultural equipment such as irrigation pumps, grain augers, and feed mixers as they provide increased productivity and efficiency.
Furthermore, renewable energy is being promoted globally and will help in the growth of induction motors as they are used in renewable energy production for electricity generation and for their ability to withstand harsh environmental conditions. For instance, according to the government of India, the estimated potential for renewable energy was around 14,90,723 MW from solar, wind, small hydro, and biomass renewable energy resources in 2022.
Figure 1: Segmentation of Potential for Renewable Energy in India (MW or Megawatts of Energy), 2022
Source: data.gov.in
Market Dynamics and Drivers
Several factors drive the induction motor market, including a rise in the application of Induction motors in several industries like automotive, mining, agriculture, energy, and several other industrial applications in recent times. The rise in demand for electric vehicles (EVs) with the growing amount of global environment awareness among the general public and several governments promoting energy efficient alternatives across the globe has contributed significantly to boosting the overall induction motor market.
The rapid growth in industrialization and urbanization in emerging economies and the developing markets in those regions has raised the need for induction motors. For instance, in Asia-Pacific, Latin America, and Africa, they have an increasing demand for induction motors, which is driven by industrial growth in the regions. The widespread adoption of induction motors is due to the cost-effective and reliable solutions they provide for a wide range of industrial applications. Therefore, with a rise in urbanization and industrialization in emerging economies, the induction motor market is anticipated to grow.
The development and innovation in induction motor technology to enhance efficiency across several industries is one of the growth factors in the induction motor market. There are several advancements made in induction motor technology, which attract a variety of industries to adopt them in the production process, such as advanced motor controls, sensor technology, and predictive maintenance systems. The need to replace the aging or inefficient motors with newer and more efficient induction motors also drives the induction motor market growth over the forecast period.
The popularity of electric vehicles will significantly drive the market growth of induction motors as they are used in EV propulsion systems and are used for high torque density and efficiency, which is suitable for the smooth operations of electric vehicles. Several countries have shown significant growth in EV sales in recent years. For instance, in India, the EVs registered in the year 2022 were 10,20,678, which is a significant increase from 2021, where the number of EVs registered was 3,29,808.
Figure 2: Year-Wise Number of Registrations for Electric Vehicles in India
Source: data.gov.in
Market Constraints
Despite the huge advantages and use cases of induction motors, the companies that manufacture them face a lot of challenges with significant improvements being made in motor technology like alternative motors, which makes it hard to keep up with that improving technology. Energy efficiency regulations around the globe are also increasing the demand for induction motors with higher efficiency ratings, and making such improvements in induction motors can increase manufacturing costs. Several problems, like raw material shortages, transportation delays, and geopolitical tensions, are anticipated to hinder the induction motor market growth over the forecast period.
Emerging Opportunities and Innovations
Despite the challenges, the induction motor market presents numerous opportunities for innovation and growth. Advances in its applications across various industries are the major reason for that. Also, the use of smart technologies, such as sensors, connectivity, and data analytics, in induction motors and innovations in motor design, such as advanced winding configurations, optimized magnetic circuits, and improved cooling techniques, are some of the factors that influence the market growth. The use of VSDs or variable speed drives that enable induction motors to operate at optimal speeds under varying load conditions will further enhance their productivity and efficiency.
Key Developments
In conclusion, the induction motor market presents significant opportunities for growth and innovation, driven by the increasing popularity of electric vehicles and applications across various industries like renewable energies and the HVAC industry. While facing challenges such as growing advancements in motor technologies and huge investments needed to develop induction motor technology to make it more energy efficient, the industry is poised to capitalize on technological advancements and innovations to meet the needs of a growing global demand for induction motors.
Breaking Boundaries: Semiconductor Back-End Equipment’s Journey Towards Excellence
Thought ArticlesSemiconductor Back-End Equipment Market Overview
In the final stages of semiconductor manufacturing, when integrated circuits are assembled and packaged, the machinery and tools used for that process are called semiconductor back-end equipment. These back-end equipment are required for several processes, such as wafer dicing, die bonding, wire bonding, encapsulation, and testing. In several back-end semiconductor manufacturing processes, servo drives are used because of their repeatability and performance.
The technology that is required for developing the back-end process of semiconductor manufacturing consists of high throughput and extreme precision and accuracy. The flip chip or solder bump is a modern alternative for the wire bonding process as it provides better manufacturing speed and a smaller overall package size.
Explore the Semiconductor Back-End Equipment Market
This article provides an overview. Our comprehensive report offers detailed insights into market size, growth forecasts, and competitive dynamics in the semiconductor back-end equipment industry.
Global Production Trends
The production of semiconductors is growing with the rise in applications across several industries. These industries include consumer electronic devices such as wearables and smart home devices like smart TVs and PCs. The demand for these products raises the demand for efficient, high-processing-power, and smaller-footprint semiconductor chips in the market. The semiconductor back-end equipment is necessary for the production process of semiconductors; therefore, it is predicted to contribute to its market growth.
In recent years, there has been a notable increase in the popularity and penetration of smartphones. These devices are becoming more important in the consumer’s daily life, and they require integrated circuit semiconductor chips during the manufacturing process. This is achieved by increasing the production of semiconductor chips using better back-end equipment for faster production and matching the growing demand for these devices.
As this semiconductor device has so many applications in several industries and with the rising popularity of AI technology in the market and chipsets required for its implementation, the demand for increasing semiconductor production has seen rapid growth. For instance, several key players in the semiconductor production industry are taking initiatives to invest heavily in back-end equipment to increase the rate of production and match the growing global demand for semiconductors.
Dive into the AI Chipsets Market
AI technology is driving semiconductor demand. Get our detailed report on the AI Chipsets Market to explore growth trends, key applications, and competitive insights.
Semiconductor Back-End Equipment Use Case
The semiconductor back-end equipment has several use cases that are boosting their production and global market. These use cases include the assembly and packaging of semiconductors integrated circuits in the final stages of the production process of semiconductors. This is an important part of the manufacturing process and needs high efficiency and accuracy to assemble the integrated circuits in the semiconductors. The demand for semiconductors is rising due to their various application across several industries.
The growing popularity of several industries that demand high-efficiency semiconductors is leading key players in semiconductor manufacturing processes to increase production speed by using high-quality and efficient back-end equipment in the manufacturing process. The high-quality back-end equipment is efficient, precise, high-speed, and accurate during the manufacturing process. This increase in the production speed of semiconductors matches the growing global demand for semiconductors. For instance, according to SIA or Semiconductor Industry Association, the global sales of semiconductors for August 2023 reached US $44 billion.
The global sales of semiconductors positively affect the semiconductor back-end equipment as they increase the production rate of semiconductors significantly. For instance, the global sales of semiconductors in the year 2021 were US $102.5 billion and reached US $ 117.5 billion in 2022.
Figure 1: Global Semiconductor Sales Growth in US$ Billion, 2021-2023
Source: semi.org
Market Dynamics and Drivers
Several factors drive the semiconductor back-end equipment market, including a rise in the application of semiconductors in several consumer electronics, the automobile industry, and AI chipsets in recent times. This, coupled with the rise in demand for efficient and high-speed back-end equipment to match the growing amount of global demand for semiconductors, has contributed significantly to boosting the overall market. Additionally, with the rapid growth in popularity of electric vehicles (EVs) and AI technology in recent years the need for semiconductors is rising proportionally. The back-end equipment is used for packaging and assembling the integrated circuits in semiconductors. Using these back-end equipment for high accuracy and precision benefits the overall production growth. Therefore, with a rise in demand for these consumer electronics products in the market, the market is anticipated to grow.
The development and innovation in electric vehicles across the automotive industry is one of the growth factors in the semiconductor back-end equipment market. The introduction of electric vehicles has significantly grown the number of semiconductors needed for the electric components of the vehicles and features like auto lane parking and integration of AI assistants into the vehicle. The rising popularity of these EVs is going to positively affect the overall market growth. Furthermore, AI technology has been gaining popularity across the globe, and the implementation of AI technology needs semiconductor chips, which require semiconductors to make. Therefore, with these contributing factors, the semiconductor back-end equipment market is anticipated to grow.
The variety of applications of semiconductors across several industries is a major market driver for the global back-end equipment market for high and efficient semiconductor production. For instance, the segmentation for the use of semiconductors in the market is 42% for the automotive industry, 18% for healthcare, and 6% for consumer electronics.
Figure 2: Semiconductor Users by Primary Market Segment in %
Source: commerce.gov
Understand the Electric Vehicle Market
Electric vehicles are a key driver of semiconductor demand. Our report on the Global Electric Vehicle Market provides insights into market trends, technological advancements, and growth opportunities.
Market Constraints
Despite the huge advantages and use cases of semiconductor back-end equipment, the companies that manufacture them face a lot of challenges with significant improvements being made in manufacturing techniques and keeping up with that improving technology which is getting complex. The requirement for the right skillful labor that can understand the complex process of manufacturing semiconductors can also be a huge hindrance to market growth.
The process of manufacturing semiconductors requires knowledge and skills to transform raw materials into finished products, and several manufacturing units are facing a shortage of the right skillful labor. Therefore, these high complexities of the production process and shortage of skillful labor can hinder overall semiconductor back-end equipment market growth.
Emerging Opportunities and Innovations
Despite the challenges, the semiconductor back-end equipment market presents numerous opportunities for innovation and growth. Advances in its applications across various industries, such as automotive and consumer electronics, are the major reason for that. Therefore, semiconductor manufacturers require new facilities to match the rising global demand and are investing heavily in new manufacturing units to expand the production of semiconductors. The production process involves complex network firms that design these semiconductor chips as they can power several consumer electronics. Therefore, these new production units for semiconductors are fueling semiconductor back-end equipment market growth.
Key Developments
Conclusion
In conclusion, the semiconductor back-end equipment market presents significant opportunities for growth and innovation, driven by the increasing popularity of consumer electronics and applications across various industries, like the growing popularity of AI technology and electric vehicles. While facing challenges such as growing advancements and complexity in the manufacturing process of semiconductors and the high precision and accuracy needed for manufacturing, the industry is poised to capitalize on technological advancements and innovations to meet the needs of a growing global demand for semiconductor back-end equipment.
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Potentiometric Titration – Unique Products and Services Offered by Companies
Thought ArticlesThe global potentiometric titration market is projected to grow at a CAGR of 6.21% during the forecast period.
Potentiometric titration is a technique for determining the concentration of a substance. It is frequently employed in the pharmaceutical sector for the analysis of various raw materials and final products. It is used to determine the final concentration of the medication. Potentiometric titration is utilized in several businesses that have high-quality criteria. The potentiometric titration procedure is used in the food and beverage sector to maintain quality control and regulatory standards.
In the petrochemical, pharmaceutical, chemical, and personal care sectors, the technique is employed in the quality control department and R&D laboratories. Due to this reason, the global market for potentiometric titration is anticipated to grow, especially with the pharmaceutical sector rising.
Mettler Toledo, Xylem, Hach, Hanna Instruments, Inc, KEM Co. Ltd., Jinan Hanon Instruments Co Ltd, Spectra Lab Instruments Pvt ltd and, and Scientific technology solutions are a few key major players in the market of potentiometric titration.
Mettler Toledo, based in Switzerland and incorporated in the United States, is an international maker of scales and analytical equipment. It is the world’s leading manufacturer of weighing equipment for pharma and biotech, industrial, food retailing, and other uses. The company also offers a variety of equipment classified as analytical, process analytics, and others. The company provides a wide variety of potentiometric titrators. The T5 Excellence titrator, for example, provides complete flexibility for both potentiometric and Karl Fischer applications and may be expanded from 1 to 4 total burettes. For high throughput testing, it also supports “InMotion” automation. This product line includes three different types of titrators: T5, T7, and T9 Excellence titrators.
SI Analytics, a Xylem trademark originally known as SCHOTT instruments, has been recognized for high-quality titrators and other instruments for over 40 years. Their product line includes the TITRONIC 300 piston burette for easy dosing and manual titration, as well as the TitroLine 7800 with sample changer TW 7200 / TW 7450 and TitriSoft software for sophisticated titration operations. The gadgets are employed in all industries, including research, pharmaceutical, chemical, food and beverage, and others. All gadgets and software offer ease through innovative features and simple operation. For instance, the TitroLine 7000 potentiometric titrator includes a high-resolution and accurate pH/ mV measurement interface, allowing it to swiftly determine a wide variety of parameters. Additionally, the TitroLine 5000 Module is a simple automated titrator with a 50 ml dosing unit and pH-electrode for pH titrations.
Hanna Instruments, located in Rhode Island, is a global producer of analytical instruments that was founded in 1978 in Italy. The company has a global network of over 40 companies in over 32 countries. It has production facilities in Romania, Singapore, Hungary, and Mauritius. The company provides, the Automatic Potentiometric Titrator – HI901C that has an exchangeable Clip Lock burette system for easily separating and switching between reagents, as well as a live titration curve for instantly recognizing trends that may emerge during analysis. Furthermore, The HI931 Automatic Titrator is entirely customizable, delivering accurate results and a straightforward user experience, as well as an unrivaled 40,000-step dosing pump for tiny quantities of titrant to assist in achieving a highly precise endpoint for increased consistency.
Scientific Technology Solutions is a leading provider, manufacturer, and exporter of Volumetric Karl Fischer Titrator. It is an ISO-recognised company that was founded in 2005 to create and supply a wide variety of HPCL and electrochemistry products. The company sells its products across the Gulf, Africa, and Asia. The firm provides a volumetric Karl Fischer titrator, which is specially built for the chemical analysis of fluids to identify unknown quantities of substances. It has an ideal resolution and measurement range, as well as the ability to pre-set the titration endpoint and many other features.
Global Potentiometric Titration Market Scope:
Nitrile Surgical Gloves – The Rising Demand in Healthcare Industry
Thought ArticlesThe nitrile surgical glove market is projected to grow at a CAGR of 9.19% during the forecast period to reach US$734.459 million by 2027, from US$396.944 million in 2020.
Surgical gloves are a type of personal protection equipment (PPE) used to safeguard doctors in operating rooms (ORs). The primary function of these gloves is to act as a protective barrier for surgeons and nurses during surgical procedures, preventing disease transmission between patients and healthcare staff. These gloves serve a variety of functions, ranging from surgical to dentistry applications. There are a variety of surgical gloves for example nitrile, latex, and others.
Nitrile gloves sprang into popularity as a major latex substitute. Nitrile rubber is a synthetic rubber compound derived from the combination of butadiene and acrylonitrile. It is widely employed in the food, medicinal, and sanitation industries. Because of its longevity, temperature tolerance, and strength, it is a good material for surgical gloves, especially for persons who are allergic to latex. While not as elastic or flexible as latex gloves, disposable nitrile gloves are significantly more durable and chemically resistant. As a result, these gloves are an excellent choice for anyone who must work with potentially toxic and caustic substances. They are also ideal for most medical contexts because of their high puncture resistance and lack of latex allergic symptoms.
The increase in surgical operations, as well as favorable steps taken by governing authorities to raise awareness about hospital-acquired infections, are projected to fuel market expansion for nitrile surgical gloves. Several companies manufacture and sell nitrile surgical gloves. For instance, Hartalega Holdings, BerhadAmkay Products Pvt. Ltd., Comfort Rubber Gloves Industries Sdn, Unigloves (UK) Limited, Riverstone Holdings Limited, and RFB Latex Limited are prominent players in the nitrile surgical glove industry. Hartalega Holdings is one of the world’s largest manufacturers of nitrile and latex gloves, with a capacity of 35 billion gloves per year.
The multiple benefits of nitrile surgical gloves in end-user applications will drive the market’s rapid rise during the anticipated timeframe.
Nitrile gloves are beneficial for industrial as well as medical usage as it holds various advantages which make them more demanding for the end-users. For instance,
During the projected period, the hospital industry is expected to grow rapidly in the nitrile surgical gloves market.
The healthcare business is a major consumer of medical equipment and personal protection equipment like nitrile surgical gloves. It encompasses the creation and marketing of items and services that aid in the maintenance and restoration of health. It is one of the most significant industries that is anticipated to rise in the coming years. Therefore, with the increasing number of hospitals and healthcare units, the requirement for PPE will similarly grow. According to WHO, every dollar spent on health leads to an additional USD 0.77 contribution to economic growth due to indirect and induced impacts.
Furthermore, according to the India Brand Equity Foundation, Indian healthcare infrastructure is predicted to reach US$ 349.1 billion in 2022, with the e-health sector reaching US$ 10.6 billion by 2025. Due to the easy availability of e-heath platforms, Nitrile surgical gloves market is anticipated to surge. Additionally, the Indian Government has also taken the initiative of allocating funds for this industry majorly due to the COVID-19 disruptions. For instance, The National Health Policy of India intends to boost government health expenditure to 2.5% of GDP by 2025. Furthermore, the budgeted allocation to the health sector had been boosted to Rs 2,23,846 crore for the fiscal year 2021-22, a 137% increase over the outlay of Rs 94,452 crore in 2020-21.
The nitrile surgical glove market in the United States is expected to be dominant throughout the projected period.
There have been significant market developments and investments made by several U.S. companies that have driven market growth for nitrile surgical gloves. For instance, American Nitrile, a US-based firm striving to produce latex-free surgical masks, opened another US-based nitrile glove manufacturing factory in Columbus, Ohio, in 2021. This assisted American Nitrile in increasing its production capacity to satisfy the demand for nitrile surgical masks. During the same year, Honeywell International Inc. and hospital supplier purchasing firm Premier Inc. formed a partnership to produce 750 million nitrile gloves in the United States per year. Additionally, the US Department of Health and Human Services (HHS) has so far contributed $572 million to five glove initiatives. Therefore, the initiatives taken by the government and organizations will boost further growth of the nitrile surgical market.
COVID-19 Insights
The COVID-19 pandemic in 2020 raised the demand for nitrile gloves. To meet this demand, Top Glove Corp boosted its production capacity and increased its average selling price. Additionally, revenue increased 6.02% year on year to RM1.23 billion due to consistent sales volume growth, with notably significant growth in the nitrile glove segment, which showed a 14% rise in sales volume compared to 2019. Furthermore, governments and organizations boosted their funding allocation while also implementing strategies to develop the industry. Top Glove, a Malaysian rubber glove manufacturer, for example, boosted its manufacturing capacity in 2021, increasing the group’s total number of production lines by 150 and overall production capacity by 17.7 billion gloves per year.
Nitrile Surgical Glove Market Scope: