#Medical Equipment Cooling Market CAGR Growth

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Dry Ice Market Analysis: Global Industry Trends and Forecast (2023-2032)

The Dry Ice Market is projected to grow from USD 2087.6 million in 2024 to an estimated USD 3739.84 million by 2032, with a compound annual growth rate (CAGR) of 7.56% from 2024 to 2032.

Dry ice, the solid form of carbon dioxide (CO2), plays a critical role across various industries due to its unique properties, particularly its ability to sublimate directly from a solid to a gas at -78.5°C (-109.3°F) without passing through a liquid phase. This characteristic makes dry ice an incredibly effective cooling agent, widely used in the food and beverage industry for transportation and storage, where maintaining low temperatures is essential for preserving perishable goods. It is also extensively used in the medical and pharmaceutical sectors for the safe shipment of temperature-sensitive materials such as vaccines, biological samples, and medical supplies, especially in situations where refrigeration is not feasible or reliable.

Beyond its role as a cooling agent, dry ice is employed in industrial cleaning through a process known as dry ice blasting. This method is valued for its effectiveness and environmental benefits, as it cleans surfaces by sublimating on impact, leaving no residue and reducing the need for harsh chemicals or water. This application is particularly beneficial in industries such as manufacturing, automotive, and aerospace, where delicate equipment or surfaces require a non-abrasive yet thorough cleaning process.

The production and supply chain of dry ice are also influenced by fluctuations in the availability of raw CO2, which is a byproduct of industrial processes such as ammonia production and ethanol fermentation. Periods of low CO2 availability, often due to disruptions in these industries, can lead to shortages of dry ice, impacting industries that rely on it for critical operations. This was notably evident during the COVID-19 pandemic, when the demand for dry ice surged to support the distribution of vaccines requiring ultra-cold storage, highlighting the vulnerability of its supply chain.

Dry ice, the solid form of carbon dioxide (CO2), has a wide range of applications across various industries due to its unique properties, particularly its ability to sublimate directly from a solid to a gas without passing through a liquid state. Here are some of the primary uses of dry ice:

1. Food Preservation and Transportation

Refrigeration During Shipping: Dry ice is commonly used to keep perishable foods like meat, seafood, and dairy products frozen during transportation. Its extremely low temperature (-78.5°C or -109.3°F) makes it more effective than traditional ice, ensuring that goods remain frozen for extended periods without the risk of melting.

Storage of Frozen Foods: In retail and commercial settings, dry ice is used to maintain the cold chain for frozen foods, especially when mechanical refrigeration is unavailable or during power outages.

Flash Freezing: Dry ice is used to flash-freeze food items, rapidly reducing their temperature to prevent the formation of large ice crystals, which can degrade the texture and quality of the food.

2. Medical and Pharmaceutical Applications

Transport of Biological Samples: Dry ice is essential for shipping temperature-sensitive biological samples, including blood, tissues, and vaccines. It ensures that these samples remain frozen, preserving their integrity until they reach their destination.

Cold Storage of Vaccines: Certain vaccines, such as those requiring ultra-cold storage (e.g., mRNA COVID-19 vaccines), are stored and transported using dry ice to maintain the necessary low temperatures.

3. Industrial Cleaning (Dry Ice Blasting)

Surface Cleaning: Dry ice is used in a process known as dry ice blasting, where small pellets of dry ice are propelled at high speed to clean surfaces. This method is effective in removing contaminants like grease, paint, and rust without damaging the underlying material or leaving any residue, as the dry ice sublimates on impact.

Environmental Benefits: Dry ice blasting is preferred in industries where the use of chemicals or water-based cleaning methods could cause contamination or damage, such as in food processing, automotive, aerospace, and manufacturing.

4. Special Effects and Entertainment

Fog Effects: Dry ice is widely used to create dense, low-lying fog effects for theater productions, concerts, movies, and haunted attractions. When combined with warm water, dry ice produces a thick, white fog that stays close to the ground, creating a dramatic visual effect without leaving any moisture behind.

Smoke and Mist in Photography: Photographers and filmmakers use dry ice to create eerie or mysterious atmospheres in still and video shoots, adding depth and interest to their work.

5. Pest Control and Agriculture

Fumigation: Dry ice is sometimes used in pest control, particularly for fumigating enclosed spaces like grain silos, as it releases CO2 gas that can suffocate insects and pests without the need for toxic chemicals.

Frost Protection: In agriculture, dry ice can be used to create a controlled frost effect for research or to protect certain crops from late-season frost by generating a cold barrier that helps prevent frost damage.

6. Laboratory and Scientific Research

Cryogenic Applications: Dry ice is used in laboratories to create cryogenic conditions, such as freezing cells or samples quickly to preserve their structure. It is also used to conduct experiments that require very low temperatures.

Controlled Chemical Reactions: Dry ice is used in various chemical processes where a low temperature is needed to control reaction rates or stabilize reactive compounds.

7. Metalworking and Manufacturing

Shrink Fitting: In metalworking, dry ice is used in a process called shrink fitting, where parts are cooled with dry ice to contract them for easy assembly into tighter fits. When the metal part warms up and expands, it creates a secure, precision fit.

Welding and Grinding: Dry ice is sometimes used to cool materials during welding or grinding processes to prevent overheating and to maintain the integrity of the metal.

8. Carbonation in Beverages

Carbonated Drinks: Dry ice is occasionally used in the production of carbonated beverages to add carbonation or to quickly chill the drinks during the bottling process.

9. Emergency Cooling

Cooling in Disasters: During power outages or natural disasters, dry ice is used to keep essential items like medications, food, and other perishables cold when refrigeration is unavailable.

Emergency Cooling of Electronics: Dry ice can be used to cool overheated electronics or machinery temporarily in situations where traditional cooling methods are not feasible.

10. Culinary Uses

Gastronomy: In molecular gastronomy, dry ice is used to create dramatic presentations, such as producing smoke effects in dishes or rapidly freezing ingredients. Chefs use dry ice to create unique dining experiences, like carbonating fruits or making instant ice creams.

11. Airline Catering

In-Flight Food Storage: Dry ice is used in airline catering to keep meals and beverages cold during flights, especially on long-haul journeys where maintaining food safety is crucial.

Key Player Analysis:

Air Liquide

ASCO CARBON DIOXIDE LTD. (U.S.)

Central McGowan (U.S.)

Chillistick Ltd. (U.K.)

Continental Carbonic Products, Inc.

CryoCarb (U.S.)

Dry Ice UK Limited

Linde plc

NEXAIR (U.S.)

Polar Ice Ltd. (Ireland)

Praxair Technology, Inc. (U.S.)

Ice Corporation

SICGIL India Limited

The Iceman (Canada)

Tripti Dry Ice Co.

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The dry ice market presents several growth opportunities driven by advancements in technology, rising demand in various industries, and evolving consumer needs. Here are some key growth opportunities in the dry ice market:

1. Rising Demand in the Food and Beverage Industry

Cold Chain Logistics: As the global food and beverage industry expands, particularly with the growth of online grocery shopping and home delivery services, the need for efficient cold chain logistics is increasing. Dry ice is essential for transporting perishable goods like seafood, meat, and frozen desserts, ensuring they remain frozen during transit. The rise in demand for frozen and refrigerated foods, coupled with the expansion of e-commerce in the food sector, offers significant growth potential for the dry ice market.

Craft and Specialty Beverages: The growing popularity of craft and specialty beverages, such as artisanal ice creams and cold-brew coffees, also drives demand for dry ice in small-scale and specialty food production.

2. Expansion in the Pharmaceutical and Medical Sector

Vaccine Distribution: The COVID-19 pandemic highlighted the critical role of dry ice in the pharmaceutical supply chain, particularly for the distribution of vaccines that require ultra-cold storage. This has led to a sustained demand for dry ice in the medical sector, not only for vaccines but also for other temperature-sensitive pharmaceuticals and biological samples. As global vaccination efforts continue and new vaccines and biologics are developed, the need for reliable cold storage and transportation solutions like dry ice will remain high.

Biological Sample Transport: The ongoing growth of biotechnology and precision medicine, which often involve the transport of temperature-sensitive biological samples, further drives demand for dry ice in the healthcare industry.

3. Increased Adoption of Dry Ice Blasting

Industrial Cleaning: Dry ice blasting is gaining traction as a preferred industrial cleaning method due to its effectiveness, environmental benefits, and ability to clean without damaging surfaces. As industries such as manufacturing, automotive, aerospace, and food processing seek more sustainable and efficient cleaning solutions, the demand for dry ice blasting services is expected to grow. This presents opportunities for dry ice manufacturers to supply the growing industrial cleaning sector with high-quality dry ice pellets.

Environmental Regulations: Stricter environmental regulations are encouraging industries to adopt cleaning methods that reduce waste and chemical use, further boosting the adoption of dry ice blasting.

4. Growth in the Entertainment and Special Effects Industry

Event Production: The entertainment industry, including theater, film, concerts, and live events, continues to grow, with increasing demand for special effects. Dry ice is a popular choice for creating dramatic fog effects, especially in productions requiring a low-lying, dense fog. As the events and entertainment industry recovers and expands post-pandemic, the use of dry ice in special effects is expected to increase.

Experiential Marketing: Brands are increasingly using experiential marketing, including visually impactful elements like dry ice fog effects, to engage consumers. This trend provides additional growth opportunities in the marketing and advertising sectors.

5. Technological Advancements and Innovation

Sustainable Production: As industries focus more on sustainability, there is growing interest in producing dry ice using CO2 captured directly from the atmosphere or from industrial processes with a lower carbon footprint. Innovations in CO2 capture and recycling technologies can lead to more environmentally friendly dry ice production methods, appealing to eco-conscious businesses and consumers.

Advanced Dry Ice Machines: The development of more efficient and versatile dry ice production machines, capable of producing dry ice in various forms (blocks, pellets, slices) quickly and cost-effectively, presents opportunities for manufacturers to serve a broader range of industries with tailored solutions.

6. Expansion into Emerging Markets

Growth in Emerging Economies: Emerging markets in Asia, Latin America, and Africa are witnessing rapid industrialization, urbanization, and growth in sectors like food processing, pharmaceuticals, and entertainment. As these economies develop, the demand for dry ice in logistics, industrial cleaning, and special effects is likely to increase, providing significant growth opportunities for dry ice producers.

Healthcare Infrastructure Development: As emerging economies invest in healthcare infrastructure, the need for reliable cold storage solutions for vaccines, medications, and biological samples will drive demand for dry ice.

7. Environmental and Waste Management Applications

Dry Ice Blasting in Environmental Remediation: Dry ice blasting is increasingly being used in environmental remediation projects, such as the removal of asbestos, mold, and lead paint. Its ability to clean surfaces without creating secondary waste or using harmful chemicals makes it an attractive option for environmentally focused projects.

Waste Reduction Initiatives: As industries and municipalities focus on reducing waste and improving sustainability, dry ice can be used in various waste management applications, such as decontaminating equipment or cleaning sensitive machinery without generating additional waste.

8. Expanding Use in Laboratories and Research

Cryogenic Applications: The ongoing expansion of research in fields such as biotechnology, pharmaceuticals, and materials science drives demand for cryogenic applications where dry ice is used to maintain ultra-cold temperatures. This includes preserving samples, conducting low-temperature experiments, and stabilizing materials during processing.

9. Innovations in Consumer Products

Home Delivery Services: The growth of meal kit delivery services and online grocery shopping has led to an increase in the use of dry ice for home deliveries. As these services expand, there is a corresponding increase in the demand for dry ice to keep perishable products cold during transit.

DIY and Consumer Markets: The availability of dry ice for consumer use in DIY projects, science experiments, and home entertainment (e.g., creating fog effects for parties) presents an additional growth avenue. Retail outlets and online platforms offering small quantities of dry ice for personal use are becoming more common.

10. Partnerships and Collaborations

Cross-Industry Collaborations: Dry ice manufacturers can explore partnerships with companies in related industries, such as logistics, healthcare, and environmental services, to develop integrated solutions that enhance the efficiency and sustainability of cold chain logistics, industrial cleaning, and environmental management.

Segmentation:

By Type:

Pellets,

Blocks,

Other forms of dry ice.

By Application:

Food and beverage,

Healthcare,

Industrial cleaning,

Other sectors.

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Future Outlook of the Dielectric Fluid Market: A 7.2% CAGR Forecast to 2034

The dielectric fluid market is set to experience significant growth from 2024 to 2034, driven by increased demand for efficient insulating and cooling mediums in electrical and electronic systems. Dielectric fluids, also known as insulating oils, are used to enhance the performance, safety, and longevity of electrical equipment such as transformers, capacitors, and switchgear. With rapid industrialization, expansion of renewable energy projects, and increasing electrification across various sectors, dielectric fluids are becoming an essential component of power management systems. The market is also seeing innovation, with environmentally friendly fluids gaining traction over traditional petroleum-based ones.

The global dielectric fluid industry, valued at US$ 5.5 billion in 2023, is projected to grow at a CAGR of 7.2% from 2024 to 2034, reaching US$ 11.9 billion by 2034.The increasing adoption of renewable energy systems such as wind and solar power, coupled with advancements in electric vehicle (EV) infrastructure, will significantly contribute to this market’s growth. Technological innovations in fluid composition, especially those focusing on biodegradable and synthetic dielectric fluids, are expected to further propel market expansion.

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Market Segmentation

By Service Type:

Supply and Delivery

Fluid Processing and Maintenance

Disposal and Recycling Services

By Sourcing Type:

Petroleum-based Fluids

Synthetic Fluids

Bio-based Fluids

By Application:

Transformers

Capacitors

Switchgear

Electric Vehicles (EVs)

Others (e.g., aerospace, medical equipment)

By Industry Vertical:

Power Generation and Distribution

Automotive

Telecommunications

Manufacturing

Renewable Energy

By Region:

North America

Europe

Asia-Pacific

Latin America

Middle East & Africa

Regional Analysis

North America: Driven by technological advancements and increasing investments in smart grid infrastructure, North America holds a substantial share of the dielectric fluid market. The region is seeing rapid growth in renewable energy projects and electric vehicle adoption, both of which require high-performance dielectric fluids.

Europe: The market in Europe is dominated by stringent environmental regulations, leading to increased adoption of bio-based and synthetic dielectric fluids. The region's focus on sustainability and energy efficiency is a significant driver for innovation.

Asia-Pacific: As the largest market for dielectric fluids, Asia-Pacific is witnessing rapid urbanization, industrialization, and infrastructure development. The region is home to major manufacturing hubs and is experiencing strong growth in power distribution networks, making it a key player in the global market.

Latin America and Middle East & Africa: These regions are experiencing moderate growth, driven by ongoing energy projects and the expansion of grid infrastructure. There is also potential for increased market penetration as the adoption of renewable energy systems grows.

Market Drivers and Challenges

Drivers:

Growing demand for efficient power distribution systems and increased reliance on renewable energy.

Rapid electrification in developing economies, especially in Asia-Pacific.

Rising need for environmentally friendly dielectric fluids, driven by regulatory pressures and sustainability goals.

Challenges:

Volatile prices of raw materials used in dielectric fluid production.

Environmental concerns over the disposal of petroleum-based fluids.

Technical challenges in developing fluids with enhanced performance for high-voltage applications.

Market Trends

Sustainability and Green Energy: The shift toward bio-based dielectric fluids is gaining momentum as companies and governments push for greener alternatives. Bio-based fluids offer lower environmental impact and improved biodegradability compared to traditional mineral oils.

Electrification and Renewable Energy: With the rapid expansion of renewable energy sources and the electrification of transport (e.g., EVs), dielectric fluids tailored for these applications are seeing increasing demand.

Technological Innovations: Advancements in synthetic fluids that offer superior cooling and insulating properties, particularly for high-voltage and high-temperature applications, are expected to fuel market growth.

Future Outlook

The dielectric fluid market is poised for substantial growth over the next decade, driven by a combination of technological advancements and shifting regulatory landscapes. The demand for innovative, sustainable, and high-performance fluids is expected to grow as global electrification and renewable energy projects expand. Additionally, developments in EVs and smart grid technology will open up new opportunities for the dielectric fluid market.

Key Market Study Points

Analysis of the growing demand for bio-based and synthetic dielectric fluids.

The impact of electrification in transport and renewable energy on the dielectric fluid market.

Regional market dynamics and their influence on the overall market.

Technological advancements in dielectric fluid formulations to enhance efficiency and sustainability.

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Competitive Landscape

The dielectric fluid market is highly competitive, with key players focusing on innovation and product differentiation to maintain market share. Leading companies include:

ABB Ltd.

Siemens AG

Cargill Inc.

Shell International

Ergon International

These companies are investing in R&D to develop next-generation fluids, focusing on sustainability and high-performance applications.

Recent Developments

Several companies have introduced bio-based dielectric fluids designed to meet stringent environmental regulations, catering to growing demand for eco-friendly products.

Major partnerships and collaborations are emerging, aimed at enhancing fluid technologies for smart grids and electric vehicles.

Key players are expanding their market presence in developing regions, particularly Asia-Pacific, to capitalize on growing industrialization and power distribution needs.

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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HVAC Systems Market Pegged to Expand Robustly During 2024-2030

HVAC Systems Industry Overview

The global HVAC systems market size was estimated at USD 233.55 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 7.4% from 2024 to 2030.

The market growth is driven by the rising need for cost-effective and energy-efficient space cooling and heating applications in the commercial and industrial sectors. Furthermore, rising demand for the high seasonal coefficient of performance (SCOP) heating equipment, which can be efficient in both winter and summer, is expected to fuel the product demand. Moreover, the growing global population is increasing the requirements for affordable housing units and enhanced commercial infrastructure.

Gather more insights about the market drivers, restrains and growth of the HVAC Systems Market

According to the United Nations, the global population is expected to reach 9.7 billion in 2050, exhibiting a growth of 2 billion in the next 30 years. This significant increase in the global population is facilitated by the improving standard of living of the masses, increasing lifespan, decreasing mortality rate, and ongoing advancements in medical technologies and medicines. As such, new housing projects are being launched worldwide. This is expected to positively impact market growth. Rapid urbanization coupled with increasing demand for energy-efficient products is expected to drive the demand for heat pumps in the residential sector. Favorable government initiatives and tax rebates offered on the installation of energy-saving products are expected to propel product demand.

For instance, the U.S. federal government extended the federal tax credit of 26% for residential ground-source heat pump installations up to 31st December 2022. This tax credit was lowered to 22% for systems that were installed in 2023. Moreover, the governments have set forth some standards that aim at the manufacturing of energy-efficient equipment, reducing environmental hazards & carbon footprints. In addition, several governments offer benefits to encourage the use of energy-efficient or renewable energy-based products. Moreover, the introduction of new HVAC regulations and standards or the updation of the existing ones in the U.S. is expected to positively impact market growth.

In January 2023, a new regulation related to energy efficiency SEER2 (Seasonal Energy Efficiency Ratio) was implemented in the U.S. The energy efficiency rating according to this regulation for heat pumps & air conditioners for northern states of the country has been changed to 14, while for southern states, it is 15. Moreover, the U.S. EPA is said to ban R-410 refrigerant in HVAC systems across the country by 2024 and promote the adoption of a new class of refrigerant, namely A2L in these systems by 2025. Such changes are expected to boost the replacement activities of existing HVAC systems with new ones or update them. This is anticipated to contribute to market growth.

Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.

• The global HVAC maintenance services market size was estimated at USD 78.54 billion in 2023 and is projected to grow at a CAGR of 5.8% from 2024 to 2030.

• The global platinum group metals market size was estimated at USD 56.18 billion in 2023 and is estimated to grow at a CAGR of 4.6% from 2024 to 2030.

Key HVAC Systems Company Insights

To increase market penetration and cater to changing technological requirements from various end-uses, such as residential, commercial, and industrial, product manufacturers use a variety of strategies, such as joint ventures, mergers, acquisitions, new product launches, and geographical expansions. Manufacturers are undertaking strategic acquisitions to gain an edge in the industry and increase their geographic presence.

For instance, in May 2023, Carrier Corporation introduced i-Vu Pro v8.5 for upgrading controller firmware, improving serviceability for customers, and reducing downtime of connected HVAC equipment. The latest enhancements are expected to help customers with Internet of Things (IoT) connectivity, robust security, and leading serviceability features. Furthermore, in February 2022, Johnson Controls, Inc. launched commercial rooftop units (RTUs) with series, such as Johnson Controls, YORK, and TempMASTER. These products are certified by the DOE 2023 efficiency standards.

Key HVAC Systems Companies:

The following are the leading companies in the HVAC systems market. These companies collectively hold the largest market share and dictate industry trends. Financials, strategy maps & products of these HVAC systems companies are analyzed to map the supply network

Carrier Corporation

Daikin Industries, Ltd.

Fujitsu

Haier Group

Havells India Ltd.

Hitachi Ltd.

Johnson Controls

LG Electronics

Lennox International Inc.

Mitsubishi Electric Corporation

Rheem Manufacturing Company

SAMSUNG

Trane

Recent Developments

In February 2023, Lennox International launched packaged rooftop units with the introduction of Xion and Enlight product lines. These new products reduce environmental impact by offering exceptional efficiency, sustainable design, and efficient service

In January 2023, Trane launched the new AirfinityS rooftop air-to-air heat pump systems with variable speed compressors, adaptive frequency drive, and low GWP R-454B refrigerant

SAMSUNG announced a new range of WindFree AC. It involves AI technology that auto-cools the surroundings by reducing energy consumption by 77%. Furthermore, it has a motion detector sensor, voice control, and welcome cooling. Some of the models of this AC have an in-built air purifier that filters PM2.5 particles

Order a free sample PDF of the HVAC Systems Market Intelligence Study, published by Grand View Research.

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Medical Transport Boxes: Ensuring Safe and Efficient Healthcare Logistics

The global medical transport box market is experiencing significant growth, driven by the increasing need for secure and temperature-controlled transport solutions in the healthcare sector. Valued at USD 603.75 million in 2022, the market is projected to reach USD 1061.81 million by 2030, with a compound annual growth rate (CAGR) of 7.30% during the forecast period from 2023 to 2030. This growth highlights the crucial role that medical transport boxes play in ensuring the integrity of medical supplies throughout the supply chain.

Why Medical Transport Boxes?

Medical transport boxes are essential for safely transporting temperature-sensitive medical items such as vaccines, blood samples, organs, and pharmaceuticals. These boxes are designed to maintain specific temperature ranges and protect against contamination, ensuring that medical products reach their destinations in optimal condition. As the healthcare industry becomes more globalized and interconnected, the demand for reliable and compliant transport solutions is on the rise.

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Technological advancements are transforming the medical transport box market, enhancing the efficiency and reliability of these critical tools. Innovations such as advanced insulation materials, real-time temperature monitoring, and GPS tracking are improving performance and providing better control over the transportation process.

Market Dynamics and Growth Drivers

Several factors are fueling the growth of the global medical transport box market:

Rising Demand for Temperature-Controlled Solutions: The need for maintaining strict temperature control during the transport of medical products, including vaccines and biologics, is a major driver of market growth. Medical transport boxes equipped with sophisticated thermal insulation and cooling technologies are essential for preserving the efficacy of these products.

Expanding Global Healthcare Infrastructure: The growth of healthcare infrastructure worldwide, particularly in emerging markets, is increasing the demand for reliable medical transport solutions. Medical transport boxes play a vital role in ensuring that medical supplies are delivered safely to even the most remote locations.

Regulatory Compliance and Quality Assurance: Stringent regulations governing the transportation of medical products require adherence to specific standards for temperature control, security, and durability. Compliance with these regulations is driving the adoption of high-quality medical transport boxes.

Technological Innovations: Advances in materials science and digital technology are enhancing the capabilities of medical transport boxes. Features such as real-time tracking, tamper-evident seals, and RFID tagging are becoming standard, providing greater visibility and control over the supply chain.

Challenges and Opportunities

The market faces challenges such as the high cost of advanced transport solutions and logistical complexities associated with maintaining temperature control during long-distance transport. Additionally, fluctuating raw material prices can impact manufacturing costs.

However, there are significant opportunities for growth. The demand for cost-effective yet reliable transport solutions is driving innovation in the market. Expanding into emerging markets and exploring new applications for medical transport boxes can provide additional growth avenues.

Regional Analysis

North America: The North American market is characterized by a well-established healthcare sector with a focus on innovation and regulatory compliance. The U.S. and Canada are significant contributors to the market, driven by ongoing advancements in medical transport solutions and infrastructure development.

Europe: Europe’s market benefits from strong regulatory frameworks and a focus on high-quality healthcare logistics. Countries such as Germany, France, and the U.K. are key players, emphasizing the need for reliable and compliant transport solutions.

Asia-Pacific: The Asia-Pacific region is experiencing rapid growth due to increased urbanization and healthcare infrastructure development. Emerging markets like China and India are driving demand for medical transport boxes, supported by rising healthcare needs and logistical challenges.

Latin America and Middle East & Africa: These regions are showing gradual growth, influenced by expanding healthcare infrastructure and increased investments in medical logistics. The need for reliable transport solutions in these regions is contributing to market development.

Report Overview : https://www.infiniumglobalresearch.com/market-reports/global-medical-transport-box-market

Competitive Landscape

The medical transport box market is competitive, with a range of players offering diverse solutions. Key players include:

Thermo Fisher Scientific: A leading provider of temperature-controlled transport solutions with a focus on innovation and compliance.

Pelican BioThermal: Known for its high-performance transport solutions and extensive range of medical transport boxes.

VWR International: Offers a wide variety of medical transport boxes and solutions, catering to different healthcare needs.

Cryoport: Specializes in temperature-controlled logistics and provides advanced solutions for the medical transport industry.

Emerging players and local manufacturers also contribute to market dynamics, providing innovative and cost-effective solutions.

Conclusion

The global medical transport box market is poised for substantial growth, driven by the increasing needs of the healthcare industry and advancements in medical logistics. With revenue expected to reach USD 1061.81 million by 2030, the market offers ample opportunities for innovation and investment. As the healthcare sector continues to evolve, medical transport boxes will remain a critical component in ensuring the safety and efficacy of medical supply chains.

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Metal Additive Manufacturing Market is Estimated to Witness High Growth Owing to Reduced Production Costs

Metal additive manufacturing, also known as 3D metal printing, enables the fabrication of complex metal components using a digital file and successive layering of material under computer control. Manufacturers can produce intricate components with conformal cooling passages, lattice structures, and optimized designs that provide weight savings. As additive manufacturing reduces waste by building only the desired part geometry, it helps lower production costs compared to traditional subtractive methods such as milling and machining. The metal additive manufacturing market encompasses technologies such as direct metal laser sintering, electron beam melting, and binder jetting, among others. Manufacturers across industries adopt these technologies to produce prototypes and end-use products. Due to the potential for mass individualization and supply chain resilience, metal 3D printing demand is growing across automotive, aerospace, healthcare, and industrial equipment verticals.

Global metal additive manufacturing market is estimated to be valued at USD 5.85 Bn in 2024 and is expected to reach USD 14.37 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 13.7% from 2024 to 2031.

Key Takeaways Key players operating in the metal additive manufacturing market are GE Additive, 3D Systems, Desktop Metal, EOS GmbH, Renishaw, SLM Solutions, Stratasys, Markforged, Velo3D, DMG Mori, HP Inc., TRUMPF, ExOne (a Desktop Metal company), Materialise, Formlabs, Norsk Titanium, Optomec, Prima Additive, XJet, and VulcanForms. These players focus on expanding their production capacities and service offerings to tap growing metal 3D printing demand. Key opportunities in the Metal Additive Manufacturing Market Trends  include leveraging additive manufacturing to produce jigs, fixtures, and tooling for customized production. The technology enables on-demand manufacturing, reducing inventory costs. Further, 3D metal printing facilitates the direct production of end-use implants, prosthetics, and medical devices to improve patient outcomes. Geographically, the metal additive manufacturing market witnesses high growth in North America and Europe due to early technology adoption. However, Asia Pacific is emerging as an attractive market with huge potential, led by government initiatives driving advanced manufacturing. As the technology matures, global metal 3D printing adoption will continue increasing across industries. Market Drivers Reduced production costs with additive manufacturing compared to traditional methods is a key market driver. 3D printing eliminates the need for expensive tooling and reduces waste. It facilitates mass customization by producing different parts using the same production method. Furthermore, additive manufacturing enables the production of complex parts with optimised lightweight designs that provide performance and efficiency benefits. Metal Additive Manufacturing Market Size and Trends technology helps improve design flexibility, reduce lead times, and support supply chain resilience. All these advantages are fueling increased investment in metal 3D printing globally.

PEST Analysis Political: Metal additive manufacturing faces regulations regarding product quality and safety. Regulators aim to establish standards without stifling innovation. Economic: Metal 3D printing reduces waste and improves design flexibility compared to traditional manufacturing. It allows on-demand production and reduces lengthy supply chains. Social: Additive manufacturing increases access to custom-tailored solutions in industries like healthcare, consumer products, and education. It facilitates distributed manufacturing closer to end users. Technological: Advancements in metal powder composition, laser melting techniques, and printer capabilities continue increasing build size and throughput. Computer-aided design tools are optimizing machine parameters for new material formulations. Europe Europe is a major regional market, where aerospace and automotive sectors in Germany, Italy, and UK drive significant adoption of metal 3D printing technology, particularly for prototyping and low-volume production applications. Government support for advanced manufacturing research further boosts the regional market. Asia Pacific The Asia Pacific region is anticipated to witness the fastest growth over the forecast period due to rising focus on industrial modernization across industries in countries such as China, Japan, and South Korea. Establishment of local manufacturing facilities by global players also expands the regional market.

Get more insights on Metal Additive Manufacturing Market

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[industrynewsupdates]

Helium Procurement Intelligence 2024 - 2030: Trends and Outlook

The helium market is expected to grow at a CAGR of 6.7% from 2024 to 2030. The market is predicted to grow significantly due to the rising demand for helium utilization in aerospace, healthcare, deep-sea exploration, automotive, and manufacturing industries. In 2023, North America accounted for the highest proportion of the industry share, with more than 36%. Helium's supercooling property has led to its use in medical equipment such as MRI and NMR machines, particle accelerators, and superconducting materials due to advances in cryogenic technologies. Helium is used in the semiconductor industry to test electrical components and cool circuit boards.

NASA is investing heavily in the R&D of helium to improve the efficiency of GPS-enabled vehicles. For instance, in September 2022, NASA awarded a contract of USD 149 million to Air Products and Chemicals, Linde, and Messer Group. The three leaders would provide helium of 1.4 million liters (liquid) and 87.7 million standard cubic feet of helium (gaseous) to different NASA facilities. It is being used in International Space Station programs.

In the noble gas market, helium dominated with 47% of the overall share in 2023. Technology-wise, it was found that in 2023, more than 80% of gas companies use advanced analytics and robotic process automation and leverage AI/ML technology in their processes. Suppliers actively engage in multiple mergers and acquisitions, capacity expansion, partnerships and collaborations, launch new products, develop new technologies, and invest heavily in R&D to gain competitive advantage.

Order your copy of the Helium Procurement Intelligence Report, 2024 - 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

A few examples are:

• In May 2023, it was announced that First Helium Inc. has signed a long-term supply contract with a significant international industrial gas company on a take-or-pay basis. According to the deal, First Helium would sell helium gas produced from its Worsley facility. The agreement is estimated to provide First Helium with a potential revenue stream of up to USD 100 million over the first five years of production, depending on the rate of growth in helium production at Worsley.

• In August 2022, Iwatani Corporation announced a new helium supply agreement with specialty gas company, Helious Specialty Gases (HSG). According to the agreement, Iwatani would provide liquid helium to HSG's transfill facilities in Rajasthan, Gujarat, and Telengana. The latter two of which would be operational post Q2 2022. These facilities can manage a million Nm3 of liquid helium annually, according to HSG.

• In January 2022, A long-term contract for the distribution of ultra-high quality carbon dioxide, helium, and hydrogen to one of the biggest semiconductor producers globally was announced by Air Liquide. To support this contract, Air Liquide aimed to spend up to USD 60 million on the development, ownership, and operation of onsite plants and systems at a new manufacturing facility in Phoenix, Arizona.

• In October 2021, The Bangkok Gas Centre was built from scratch by Iwatani Corporation and opened in November 2021. The Thailand center, which is the second helium base in Southeast Asia after the first station in Malaysia, was the basis for filling industrial gas, mostly helium. In addition to uses like MRI equipment cooling, industries such as semiconductor manufacturing will benefit from increasing the gas's production capacity. 

Helium Sourcing Intelligence Highlights

• The global helium market features an oligopolistic landscape with the dominance of five major players. The top five players (Linde, Air Liquide, Air Products, Taiyo Nippon Sanso, and Iwatani) contribute around 80% of the market share.

• The competition is intense as big players such as Linde Plc, Air Products & Chemicals, and Air Liquide are extensively competing with each other to extend their global presence and product portfolio to cater to large global markets.

• The threat of substitutes is low as the alternatives for this category are limited. For instance, in some cases, argon, hydrogen, or nitrogen may be used in place of helium. However, nitrogen is a very poor substitute for helium despite having a low cost. Hydrogen on the other hand is a highly flammable commodity.

• The cost components associated with the production of helium are raw materials/feedstock, manufacturing process and equipment, electricity/energy, transportation/distribution, warehousing and storage, facilities and labor.

• The most preferred countries for sourcing helium are the U.S., Qatar, Algeria, Australia, and China. 

List of Key Suppliers in the Helium Category

• Linde Plc

• Nippon Sanso Holdings Corporation

• Messer SE & Co. KGaA

• Air Products and Chemicals, Inc.

• Air Liquide S.A.

• Iwatani Corporation

• STRANDMOLLEN A/S

• Axcel Gases

• Gulf Cryo

• The Southern Gas Limited

• Ellenbarrie Industrial Gases Limited

• Qatargas Operating Company Limited

• Buzwair Industrial Gases Factories

• nexAir, LLC

• Exxon Mobil Corporation

Browse through Grand View Research’s collection of procurement intelligence studies:

• Lab Chemicals Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

• Polyethylene Terephthalate (PET) Procurement Intelligence Report, 2024 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

Helium Procurement Intelligence Report Scope 

• Helium Category Growth Rate: CAGR of 6.7% from 2024 to 2030

• Pricing Growth Outlook: 15% - 20% (Annually)

• Pricing Models: Volume-based, contract-based pricing model

• Supplier Selection Scope: Cost and pricing, past engagements, productivity, geographical presence

• Supplier Selection Criteria: Application areas served, supply type, production capacity, purity level, type of helium provided, sources of helium, sub-helium brands, operational capabilities, quality measures, technology, certifications, data privacy regulations, and others

• Report Coverage: Revenue forecast, supplier ranking, supplier positioning matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.

Our services include (not limited to):

• Market Intelligence involving – market size and forecast, growth factors, and driving trends

• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships

• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing

• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions

[credenceresearchdotblog]

The Rare Gas Market is anticipated to grow from USD 3,849.5 million in 2024 to USD 5,601.37 million by 2032, reflecting a compound annual growth rate (CAGR) of 4.80%.Rare gases, also known as noble gases, include helium, neon, argon, krypton, xenon, and radon. These gases are characterized by their lack of reactivity due to their complete valence electron shells. The rare gas market is an essential segment of the global industrial gases market, driven by their unique properties and diverse applications in various industries.

Browse the full report at https://www.credenceresearch.com/report/rare-gas-market

Market Overview

The global rare gas market has experienced steady growth over the past decade. This growth is attributed to the increasing demand for rare gases in industries such as healthcare, electronics, aerospace, and lighting. Helium, for instance, is critical in medical imaging technologies, particularly in MRI machines, due to its cooling properties. Argon is widely used in welding and metal fabrication, while neon finds applications in lighting and advertising.

Key Drivers

1. Healthcare Industry: The healthcare sector is a significant driver for the rare gas market. Helium's usage in MRI machines and other medical equipment continues to rise. Additionally, xenon is used in anesthesia, and argon is utilized in cryosurgery.

2. Electronics and Semiconductor Industry: The electronics industry, particularly the semiconductor sector, relies heavily on rare gases. Neon, argon, and krypton are used in the manufacturing of microchips and semiconductors, essential components in consumer electronics and information technology.

3. Aerospace and Defense: In aerospace, rare gases are used in propulsion systems and in creating inert atmospheres for manufacturing and testing sensitive equipment. Xenon, for example, is employed in ion thrusters for spacecraft.

4. Lighting and Signage: Neon is famous for its use in neon signs, while argon and krypton are used in energy-efficient lighting solutions. These applications drive demand in the advertising and construction sectors.

Challenges

Despite the growing demand, the rare gas market faces several challenges:

1. Supply Constraints: The availability of rare gases, especially helium, is limited. Helium is a finite resource, primarily extracted as a byproduct of natural gas production. Disruptions in natural gas extraction can lead to helium shortages, affecting industries reliant on it.

2. High Production Costs: The extraction and purification processes for rare gases are complex and energy-intensive, leading to high production costs. This cost is often passed on to end-users, affecting the affordability and adoption of rare gases in certain applications.

3. Environmental Concerns: The production and extraction of rare gases have environmental implications. The industry faces increasing scrutiny regarding its carbon footprint and the need for sustainable extraction methods.

4. Technological Advancements: Rapid technological advancements in alternative materials and technologies pose a threat to the rare gas market. For instance, advancements in solid-state lighting technology could reduce the demand for neon and other rare gases in lighting applications.

Future Prospects

The future of the rare gas market appears promising, with several trends likely to shape its trajectory:

1. Technological Innovations: Continuous advancements in technology are expected to improve the efficiency of rare gas extraction and utilization. Innovations in recycling and recovery processes could mitigate supply constraints and reduce environmental impact.

2. Increasing Demand in Emerging Markets: Emerging economies in Asia-Pacific and Latin America are witnessing rapid industrialization and urbanization. This growth is expected to drive the demand for rare gases in various applications, from healthcare to electronics.

3. Expansion in Renewable Energy: The renewable energy sector, particularly solar and wind power, offers new avenues for rare gas applications. Rare gases are used in the production of solar panels and in the cooling systems of wind turbines, highlighting their role in the transition to sustainable energy sources.

4. Strategic Partnerships and Investments: Companies in the rare gas market are likely to engage in strategic partnerships and investments to secure supply chains and expand their market presence. Collaborations with natural gas producers and investments in new extraction technologies will be crucial.

Key Player Analysis

Air Gas

Air Liquide

Matheson Tri-Gas, Inc.

Messer Group GmbH

American Gas Products

The Linde Group

Air Products & Chemicals

Air Water Inc.

Axcel Gases

Specialty Chemical Products Inc.

Specgas Inc.

Dakota Gasification Co.

Nova Gas Technologies Inc.

Iwatani Corporation

Segments:

Based on Type:

Argon

Krypton

Neon

Xenon

Helium

Based on Supply Mode:

Cylinders

Bulk and Micro Bulk

Drum Tanks

On Site

Based on End Use:

Healthcare

Manufacturing

Electronics

Laser

Lighting

Others

Based on the Geography:

North America

US

Canada

Mexico

Europe

Germany

France

UK

Italy

Spain

Rest of Europe

Asia Pacific

China

Japan

India

South Korea

South-east Asia

Rest of Asia Pacific

Latin America

Brazil

Argentina

Rest of Latin America

Middle East & Africa

GCC Countries

South Africa

Rest of Middle East and Africa

Browse the full report at https://www.credenceresearch.com/report/rare-gas-market

About Us:

Credence Research is committed to employee well-being and productivity. Following the COVID-19 pandemic, we have implemented a permanent work-from-home policy for all employees.

Contact:

Credence Research

Please contact us at +91 6232 49 3207

Email: sales@credenceresearch.com

Website: www.credenceresearch.com

[healthcaremarketanalysis]

Orthopedic Braces & Supports Market worth $5.1 billion by 2029

The global orthopedic braces and supports market is projected to reach USD 5.1 billion by 2029, up from USD 3.6 billion in 2023, at a CAGR of 7.2%. We have observed that bracing products are increasingly used in musculoskeletal and soft tissue applications driven by the market availability of lightweight and customizable products and the rising number of sports and other injuries and related orthopedic surgical procedures. These trends are further augmented by the customer shift toward off-the-shelf/OTC products, integration of smart textiles with bracing products (such as glucose or heart rate monitors), and continued reimbursement coverage in prominent markets. Some of the noteworthy start-ups reported in the market include Roam Robotics, Sensoria Health, ActiveOrtho, Orpyx, Myomo, Exos, and Ossur.

Orthopedic Braces and Supports Market Segmentation & Geographical Spread

Download PDF Brochure:

Market Dynamics

 Drivers

Increasing prevalence of orthopedic diseases and disorders

Continuous product commercialization

Growing product affordability and availability

Rising number of sports and accident-related injuries

Growing public awareness about preventive care

 Restraints

Limited patient qualification for bracing-mediated orthopedic treatment

Limited clinical evidence of therapeutic efficacy

 Opportunities

Increased sales of off-the-shelf and online products

Expansion and promotion initiatives by major manufacturers

 Challenges

Significant adoption of pain medication

Product comfort and compliance

North America is expected to be the largest market of orthopedic braces & supports industry during the forecast period.

North America, comprising the US and Canada, accounted for the largest share of the orthopedic braces & supports market in 2022. The faster growth of the orthopedic braces and supports imaging market in North America can be attributed to its technological leadership, robust healthcare infrastructure, high market demand driven by prevalent diseases and an aging population, ample financial resources for advanced medical equipment investment, established regulatory frameworks ensuring safety and quality, active research collaboration, insurance coverage for advanced diagnostics, patient expectations for comprehensive care, and a competitive market environment fostering innovation.

As of 2022, prominent players in the market are 3M (US), Essity (Sweden), DJO LLC (US), Ossur HF (Iceland), Breg, Inc. (US), Bauerfeind AG (Germany), Devicor Medical Products, Inc., (Leica Biosystems) (Germany), Hologic, Inc. (US), Argon Medical Devices (US), Zimmer Biomet (US), Ottobock Healthcare (Germany), Thuasne (France), ALCARE Co., Ltd (Japan), Nippon Sigmax (Japan), Bird & Cronin (US), DeRoyal Industries (US), medi GmbH (Germany), and Foundation Wellness (US)

Recent Developments of Orthopedic Braces & Supports Industry:

In January 2022, Össur announced the launch of the ReLeaf Active knee brace, designed to provide pain relief and support for patients with osteoarthritis. The brace features a unique hinge design that mimics the natural movement of the knee, and it is made from lightweight, breathable materials for comfort.

In August 2022, DonJoy announced the launch of the Vizor 120 ankle brace, a lightweight and comfortable brace that provides support and stability for patients with ankle sprains. The brace features a unique air-filled pad that conforms to the shape of the ankle, and it is made from breathable materials to keep the foot cool and dry.

[spookysaladchaos]

Polypropylene Film for Capacitors, The Top 18 Largest Companies in World Ranked by Revenue in 2023 (2023)

Polypropylene Film for Capacitors Market Summary

Polypropylene film is the core material of the capacitor, which is made of polypropylene resin by casting, blow molding or biaxial stretching. Polypropylene film has good physical stability, mechanical strength, air tightness, high transparency and gloss, and is tough and wear-resistant. It is currently the most widely used capacitor film.

Polypropylene Film Production Process:

Thick film production: resin is melted and extruded at 170-210 ° C, and flows out from the circular rotating head through the filter to the inner cooling jacket, and is cooled to obtain a thick tube film.

Vertical and horizontal stretching: the tube film is preheated to the stretching temperature by infrared rays, and under the action of compressed air and clamping wheels with different speeds before and after, the tube film is stretched in both vertical and horizontal directions at the same time.

Trimming and winding: After cooling, the cylinder is divided into two layers of membranes, and then rewound after heat treatment.

According to the new market research report "Global Polypropylene Film for Capacitors Market Report 2024-2030", published by QYResearch, the global Polypropylene Film for Capacitors market size is projected to grow from USD 2026 million in 2023 to USD 3478 million by 2030, at a CAGR of 8.6% during the forecast period.

Figure.   Global Polypropylene Film for Capacitors Market Size (US$ Million), 2019-2030

Figure.   Global Polypropylene Film for Capacitors Top 18 Players Ranking and Market Share (Ranking is based on the revenue of 2023, continually updated)

According to QYResearch Top Players Research Center, the global key manufacturers of Polypropylene Film for Capacitors include Toray Industries, Hebei Haiwei Group, Jindal Films, Zhejiang Great Southeast, Quanzhou Jiadeli Electronic, Anhui Tongfeng Electronics, Hubei Longchen Technical, Oji F-Tex, Aerospace CH UAV, Foshan Plastics Group, etc. In 2023, the global top 10 players had a share approximately 79.0% in terms of revenue.

Figure.   Polypropylene Film for Capacitors, Global Market Size, Split by Product Segment

In terms of product type, 3-8μm Film is the largest segment, hold a share of 71%. Films in this range are mainly used in PV & Wind Power, home appliances, medical equipment, industrial equipment, LED lights and other consumer electronics. ≤5μm is also available for NEV.

Figure.   Polypropylene Film for Capacitors, Global Market Size, Split by Application Segment

In terms of product application, Automotive is the largest application, hold a share of 38% in 2023. The main applications of film capacitors in the field of new energy vehicles are: new energy vehicle electric drives, OBCs and charging piles. The drive inverter is one of the most important components in the electric vehicle power system. Power modules, sensors, and film capacitors are the most critical equipment. The growth of new energy vehicles will drive up the demand for film capacitors/raw material films.

Figure.   Polypropylene Film for Capacitors, Global Market Size, Split by Region

Market Drivers:

1. Support from national policies: For example, in China, Benefit from China’s emphasis on new energy, the market has grown rapidly. And considering the long-term impact of "peak carbon dioxide emissions" and "carbon neutrality" policies, the business cycle of the capacitor film industry will be extended, and it is expected to show a slow upward trend in the future.

2. Downstream market demand: The development and growth of the capacitor film market is driven by many driving factors, especially in the fields of new energy vehicles, electronics, energy storage systems and 5G.

Restraint:

1. Market competition intensifies:

The polyester film industry is highly competitive, with continued growth in market capacity and an increasing number of large-scale production companies. As the production scale of polyester film companies continues to expand, market competition in the global polyester film industry has further intensified. In this competitive environment, the gross profit margin of some companies' products may decline.

2. High technical barriers in high-end industries:

Among the companies capable of producing BOPP ultra-thin capacitor films, due to factors such as high technical thresholds, large R&D investment, and multiple product functions, there are relatively few companies that can produce ultra-thin films. But on the contrary, it has a strong competitive advantage in market segments.

Trend:

1. Improved product performance: mainly reflected in film thickness (ultra-thin), corrosion resistance, high temperature resistance, and high-pressure resistance. And it can meet the mechanical and electrical performance requirements of different application scenarios.

Ultra-thin Film: In the field of new energy vehicles, ultra-thin capacitor films can accommodate more energy storage materials, increase the energy density of batteries or capacitors, increase vehicle cruising range, and meet users' needs for long-distance driving. And ultra-thin films can also reduce capacitor weight and control costs.

High temperature resistance: New energy vehicle batteries will generate heat during operation. The high temperature resistant film can cycle stably in this environment, avoiding performance degradation in high temperature environments and maintaining long-term use. High-temperature resistant film capacitors are the key to ensuring the stable, safe and long-term operation of NEV batteries under complex working conditions and promoting the reliability and popularity of electric vehicles.

2. Market size and downstream demand growth: The rapid development of downstream new energy vehicles, photovoltaics, UHV and other fields will further drive demand in the electronic components/electronic component materials industry. For example, the "New Energy Vehicle Industry Development Plan (2021-2035)" issued by the Chinese government proposes that by 2025, China's new energy vehicle sales will account for more than 20% of new automobile sales, and by 2035, new energy vehicle sales will account for more than 20% of new automobile sales. New car sales are mainstream. In the future, the market capacity of PP films for new energy vehicle capacitors is expected to exceed 10 times, and the film thickness is mainly concentrated at 2.0-2.9 microns.

About The Authors

Jiashi Dong

Lead Author

Email: dongjiashi@qyresearch.com

QYResearch Nanning Branch Analyst, as a member of the QYResearch Semiconductor Equipment and Materials Department, his main research areas include automotive electronics, semiconductor equipment, materials and thermally conductive powders. Some subdivided research topics include automotive diodes, automotive inductors, automotive lidar, radio frequency power supplies, plastic sealing machines, high-purity non-ferrous metals, battery materials, precursors, electroplating equipment, thermal conductive ball aluminum, semiconductor chemical plating solutions, semiconductor coating devices, etc. At the same time, he is also engaged in the development of market segment reports and participates in the writing of customized projects.

About QYResearch

QYResearch founded in California, USA in 2007.It is a leading global market research and consulting company. With over 17 years’ experience and professional research team in various cities over the world QY Research focuses on management consulting, database and seminar services, IPO consulting, industry chain research and customized research to help our clients in providing non-linear revenue model and make them successful. We are globally recognized for our expansive portfolio of services, good corporate citizenship, and our strong commitment to sustainability. Up to now, we have cooperated with more than 60,000 clients across five continents. Let’s work closely with you and build a bold and better future.

QYResearch is a world-renowned large-scale consulting company. The industry covers various high-tech industry chain market segments, spanning the semiconductor industry chain (semiconductor equipment and parts, semiconductor materials, ICs, Foundry, packaging and testing, discrete devices, sensors, optoelectronic devices), photovoltaic industry chain (equipment, cells, modules, auxiliary material brackets, inverters, power station terminals), new energy automobile industry chain (batteries and materials, auto parts, batteries, motors, electronic control, automotive semiconductors, etc.), communication industry chain (communication system equipment, terminal equipment, electronic components, RF front-end, optical modules, 4G/5G/6G, broadband, IoT, digital economy, AI), advanced materials industry Chain (metal materials, polymer materials, ceramic materials, nano materials, etc.), machinery manufacturing industry chain (CNC machine tools, construction machinery, electrical machinery, 3C automation, industrial robots, lasers, industrial control, drones), food, beverages and pharmaceuticals, medical equipment, agriculture, etc.

[123567-9qaaq9]

Benchtop Centrifuges Market Growth Prospects: 2024 | Size, Share, Trends

Benchtop centrifugation refers to a laboratory process in which a benchtop centrifuge—a compact, tabletop device—is used to spin samples at high speeds to separate components based on their density.

The Benchtop Centrifuges Market  was valued at $46.1 million in 2023 and is expected to reach $80.6 million by 2033, growing at a CAGR of 5.75% between 2023 and 2033

Benchtop Centrifuges Overview 

Benchtop centrifugation is a fundamental laboratory technique utilized across various scientific disciplines for the separation of components within a sample based on their density. This process involves the use of a benchtop centrifuge, a compact and efficient tabletop device designed to spin samples at high speeds, generating centrifugal force.

Benchtop centrifuges are widely used in biology, chemistry, and clinical laboratories for various applications, including the purification of cells, subcellular organelles, viruses, proteins, and nucleic acids, as well as for the clarification of solutions and preparation of samples for further analysis.

Key Components for Benchtop Centrifuges 

Rotors

Sample Containers 

Motors 

Control Panel 

Speed Control System 

Safety Mechanisms  

Benchtop Centrifuges Market Drivers

Advancements in Biotechnology and Life Sciences 

Growing Research and Development Activities 

Rising Prevalence of Chronic Diseases 

Expansion of Clinical and Diagnostics Laboratories 

Have an understanding of our report Click Here !

Market Segmentation

1 By Type of Centrifuges

Sedimentation Centrifuges 

Filtration Centrifuges 

Hybrid Centrifuges 

 2 By Applications 

Pharmaceutical and Biotechnology 

Food and Beverage

Chemical Industry 

3  By Capacity  

Horizontal Centrifuges 

Vertical Centrifuges 

4  By End Users 

Food and Beverages 

Chemical Companies 

Oil and Gas Companies 

Mining Companies 

   Key Market Players 

Agilent Technologies, Inc.

Andreas Hettich GmbH & Co. KG

ARI Medical Technology Co., Ltd.

Biolab Scientific

Bioneer Corporation

And many others 

Download our sample page to have a better understanding click here !   

Recent Developments in the Benchtop Centrifuges Market 

• In April 2023, Eppendorf, a prominent life science company, unveiled the Centrifuge 5427 R, marking the introduction of Eppendorf's inaugural microcentrifuge equipped with hydrocarbon cooling. This innovation contributes to fostering a more sustainable laboratory environment. Through this advancement, users had the capability to conduct a diverse range of molecular and cell biology applications using a refrigerated device that incorporated a natural cooling agent boasting a nearly zero Global Warming Potential (GWP). The primary goal was to safeguard both samples and the planet.

•In February 2022, Beckman Coulter Life Sciences introduced its most versatile 3-liter benchtop centrifuge to date, the Allegra V-15R refrigerated centrifuge. It featured 10 rotor configurations and 50 programmable runs, along with a comprehensive array of adapters, allowing for a wide range of workflows and applications. These capabilities extended from cell and blood separation to high-throughput screening.

Visit our LifeSciences and Biopharma page click here ! 

Key Question Answers 

Q  What is the regulatory framework in the Benchtop Centrifuges Market ?

Q What are the key trends and the impact of COVID-19 on the Benchtop Centrifuges Market ?

Q What are the major market drivers, challenges, and opportunities in the Benchtop Centrifuges Market ?

Q How is each product segment of the Benchtop Centrifuges Market  expected to grow during the forecast period 2023-2033, and what is the anticipated revenue generated by each of the segments by the end of 2033?

Conclusion 

In conclusion, the Benchtop Centrifuges market is on a growth trajectory, supported by diverse applications, technological advancements, regulatory requirements, and expanding industrial activities globally. 

[trendingreportz]

Tissue Banking Market - Forecast(2024 - 2030)

Tissue Banking Market Overview

The market size of Global Tissue Banking for 2019 is $42,599m and is set to grow at a CAGR of 4.0% during the forecast period 2020–2025 owing to a rise in tissue transplant cases and rising incidences of cancers, cardiovascular diseases, and diabetes. The market is witnessing several trends such as a shift in public perception toward cord tissue and blood storage, improving techniques for the use of cord tissues in cellular therapy, and potential cure for cancers, blood disorders, and immune and genetic diseases. With the increase in the harmonization of biobanks and research collaboration, the tissue banking market is set to grow positively during the forecast period. 

Key Takeaways

The global tissue banking market is poised to exhibit a CAGR of 4.0% percentage during the forecast period (2020–2025), attributed to rising demand for transplantation.

Major factors driving growth of the global tissue banking market is increase in the demand for regenerative medicines. 

The wide range of applications for instance storage, handling, transportation and maintenance of specimens and samples is poised to increase the market growth for the forecast period.

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By Type - Segment Analysis

In Tissue Type segment, Blood tissue accounted for the largest share, followed by soft tissue in 2019. Blood donation has increased substantially in the past few years. In U.S., approximately 36,000 units of red blood cells are needed everyday. In Europe, approximately 1700 people opted for blood vessel tissue donation in 2013. The countries such as Spain, Italy and Sweden are the major countries with high number of donors.

By Equipment - Segment Analysis

In Equipment type, Cryopreservation Systems segment dominated the market in 2019. Cryopreservation is the process of cooling followed by storage of frozen cells to provide a continuous supply of genetically stable living cells by inhibiting all biochemical activities which are to be used for procedures such as organ donation, bone marrow transplant and others. 

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By Application - Segment Analysis 

In 2019, Clinical/ Therapeutic dominated the Application segment of Tissue banking market and is set to grow at a CAGR of 4.3%. Tissues preserved in tissue banks can be used for fulfilling variety of medical needs of people for example heart valves can be used in patients with heart disorders, corneal transplantation used to give visibility to blind people, tendons and ligaments used in  orthopedic surgery and blood to treat blood disorders. Clinical/therapeutic applications majorly use tissue banking for it involves different types of grafting such as cord blood, stem cell and others. 

By Geography - Segment Analysis

North America region held 35% of the global tissue banking market in 2019. This is owing to advanced technology and high awareness regarding tissue donation among the medical personnel and healthcare professionals. Europe is set to attain a significant growth owing to the increasing geriatric population and unhealthy lifestyle prevailing in the region. Asia-Pacific is poised to record rapid growth rates on the account of government initiatives for expanding medical facilities coupled with the presence of key market players in the region.

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Drivers – Tissue Banking Market

Increasing Technological Advancement

Technological advancement in the healthcare sector such as development in biobanking technology coupled with a rise in regenerative tissue demand drives the market growth. The regenerative medicines cure different kinds of damaged tissues covering aging issues to injuries, which is poised to drive the demand for the Tissue Banking Market.

Challenges – Tissue Banking Market

High Cost Associated With Transplantation Procedures

The high transplant cost, bioethical issues and unavailability of tissue banks in many remote countries coupled with stringent government rules and regulations regarding testing and clearance documents negatively impact the growth of the global tissue banking market over the forecast period. 

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The Major Players in this Market Include

The leading players in the tissue banking market are AMS Biotechnology (Europe) Limited, Avantor, Inc (VWR International), BioCision LLC, Brooks Automation, Custom Biogenic Systems, Eppendorf AG, Hamilton Company, Merck KGaA and Thermo Fisher Scientific, Inc.

Acquisitions/Product Launches:

In 2017, Natera, a leader in genetic testing, launched Evercord, a new offering that enables expectant parents to collect, store, and potentially retrieve their newborn’s cord, blood, and tissue for therapeutic use in transplantation and regenerative medicine applications.

In 2013, three institutes at the National Institute of Health, including the National Institute of Mental Health (NIMH), the National Institute of Neurological Disorders and Stroke (NINDS), and the National Institute of Child Health and Human Development (NICHD) launched a joint initiative called as ‘NeuroBioBank’ in the U.S. It links together six large organ and tissue repositories through a common web portal.

In October 2018, MTF Biologics announced the formation of a new tissue recovery relationship with Regenerative Biologics, Inc. The organizations seek to provide expanded birth-tissue donation opportunities for expectant mothers and their families and enhance patients’ access to high-quality placental tissues for wound care applications.

[mohankunmars]

Steel Market — Forecast (2024–2030)

Steel market is analyzed to be $1,746.35 billion in 2023 and is projected to reach $2,105 billion in 2030. The market is estimated to grow with a CAGR of 4.13% during 2024-2030. Steel is an alloy that is made up of iron ore or scrap steel and carbon. In general, steels have various unique properties including being non-corrosive, rust-resistant and heavier than other metals such as aluminum. Therefore, steel is extensively used in various end-use industry verticals, including the manufacturing various transportation and automobile components, medical equipment, metal surgical implants, structural components and more, which in turn is boosting its market growth. In recent years, the steel market has experienced fluctuations driven by several factors. One significant trend in the steel market is the impact of trade policies and tariffs. Trade tensions between major steel-producing nations, such as the United States, China, and the European Union, have led to shifts in supply chains and pricing dynamics. Tariffs imposed on steel imports have affected the competitiveness of domestic producers and influenced global trade patterns. Additionally, sustainability concerns and environmental regulations have influenced market dynamics. Increasing awareness of carbon emissions and the environmental footprint of steel production has led to a growing demand for greener steel products. This has prompted investments in cleaner production technologies such as electric arc furnaces and the development of recycled steel. Moreover, technological advancements and innovations in steel manufacturing processes have enhanced efficiency and product quality. As a result, the steel market is poised for sustained growth as global economic recovery accelerates, with innovations in technology and sustainability shaping future trends.

Steel Market Report Coverage

The report: “Steel Industry – Forecast (2024-2030)”, by IndustryARC covers an in-depth analysis of the following segments of the Steel Market Report.  By Type: Carbon Steel, (Low Carbon Steel, Medium Carbon Steel, High Carbon Steel), Stainless Steel (Austenitic Stainless Steels, Ferritic Stainless Steels, Martensitic Stainless Steels, Precipitation Hardening Grade Stainless Steels, Duplex Stainless Steels), Alloy Steel (Chromium Molybdenum Steel, Nickel-Chromium-Molybdenum Steel, Chromium Vanadium Steel, HSLA -Nickel-Chromium-Molybdenum Steel), Tool Steel (Water-hardening tool steels, Shock-resisting tool steels, Cold-work tool steels, Hot-work steels, High-speed tool steels, Others), Others By Form: Bar, Rod, Tube, Pipe, Plate, Sheet, Structural, Others By Application: Transportation (Road, Bridges, Barriers, Rail, Tracks, Rail Cars), Construction (Cool Metal (infrared reflecting) Roofing, Purlins, Beams, Pipe, Recyclable steel framing (studs), Desks/Furniture), Packaging (Canes, Bottles, Others), Water Projects (Levees/Dams/Locks), Energy (Renewable, Nuclear, Bio-fuels, Fossil, Electric Grid), Others By Industry: Construction (Steel Skeletons, Concrete Walls, Pillars, Nails, Bolts, Screws, Others), Machinery (Bulldozers, Backhoe Leaders, Pipelayers, Others), Automotive and Transportation (Exhaust, Trim/Decorative, Engine, Chassis, Fasteners, Tubing For Fuel Lines), Kitchenware and Domestic Appliances (Small Household Appliances, Black Home Appliances, White Home Appliances), Electrical and Electronics (Motor Mount Brackets, Adapter Plates, Electronic Frames and Chassis, Brackets, Others), Healthcare (Orthopaedic Implants, Artificial Heart Valves, Bone Fixation, Catheters, Others), Energy (Scrubbers, Heat Exchangers, Others) By Region: North America, South America, Europe, Asia-Pacific and Rest of the World

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Key Takeaways

Steel Market Segment Analysis – By Type  In terms of type, the Steel Market is segmented into carbon steel, stainless steel, alloy steel, tool steel and others. In 2023, the Stainless-steel segment generated the greatest revenue of $361.94 billion and is projected to reach a revenue of $482.28 billion by 2030. Owing to the various benefits posed by stainless steel such as corrosion resistance, high and low temperature resistance, the ease of fabrication, strength, aesthetic appeal is one of the key factors for its adoption among various end-use industries, which in turn is boosting its market growth. The stainless-steel segment can be further classified as Austenitic stainless steels, Ferritic stainless steels, Martensitic stainless steels, Precipitation hardening grade stainless steel and Duplex stainless steels. 

Steel Market Segment Analysis – By Form  By form, the steel market is segmented into bar, rod, tube, pipe, plate, sheet, structural and others. The bar segment accounted for the major market share in 2023, with a revenue of $554.58 billion, and is forecast to grow at a CAGR of 4.68% by 2030. The increasing demand for steel bar from various end-user industries such as building and construction, bridges, and many others, are driving the growth of the segment during the forecast period of 2024-2030.

Steel Market Segment Analysis – By Application  Steel Market is segmented by its application that includes transportation, construction, packaging, water projects, energy and others. The energy segment held the dominant market share, 31% of the whole market, in 2023, and is expected to maintain its dominance by 2030 with a CAGR of 4.69%. One of the major factors for the segment growth is the increasing awareness and focus towards renewable energy sources. Steel plays a crucial role in producing and distributing energy as well as improving energy efficiency. Renewable energy is further classified as Wind Towers and Foundation, Wind Turbines and Solar Parabolic Mirror Supports & Collectors. 

Steel Market Segment Analysis – By Industry The Steel finds its application across the industries such as construction, machinery, automotive and transportation, kitchenware and domestic appliance, electrical and electronics, healthcare, energy and others. Among them, the construction segment is the largest consumer of steel, as bearable structures can be manufactured easily at a low cost. The property of steel in its various forms and alloys makes it more flexible to cater the exclusive projects integrated with infrastructure. Moreover, the rapid industrialization and urbanization in various developing countries are fueling the segment growth in strengthening its dominant market position during the forecast period.

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Steel Market Segment Analysis - By Geography/Country  The report comprises of the region wise study of the global market including North America, South America, Europe, Asia-Pacific and Rest of the World. Above all, Asia-Pacific region held the biggest share in 2023, up to 63% of the whole steel market owing to the rapidly expanding defense, machinery, automotive, and shipbuilding industries in the countries such as India, China, South Korea, and Japan. Foreign direct investment in energy and infrastructure is likely to provide opportunities for the market vendors. Coupled with favorable government regulations, growing infrastructure and construction activities in developing economies of the Asia-Pacific region are boosting the demand for the market.

Steel Market - Drivers 

Growing Demand for Steel Across the Various Regions Several factors have a significant impact on the overall development of the steel market. The major growth factor driving the Steel Market is the growing demand for steel across a variety of developing regions. For instance, Global crude steel production in January-November 2023 reached 1715.12 million metric tons, marking a marginal 0.5% year-on-year growth, per provisional data from the World Steel Association. November 2023 saw a production of 145.5 million metric tons, up by 3.3% from the previous year. China led the production with 952.14 million metric tons, followed by India and Japan, USA, Russia, South Korea, and Germany. 

Construction and Infrastructure Development: Construction activities, including residential, commercial, and infrastructure projects such as roads, bridges, and railways, are major drivers of steel demand. Urbanization and industrialization also contribute to the growth of the construction sector, thereby increasing the demand for steel products. For instance, as per Green Finance & Development Center, China Belt and Road Initiative (BRI) Investment Report 2023, engagement totalled about USD88.3 billion, with USD44.6 billion from investment and USD43.7 billion from construction contracts. Also, The US Department of Transportation allocates $3.2 billion in extra funding, alongside $4.3 billion from the Bipartisan Infrastructure Law for 2023. The Budget prioritizes $4.5 billion for the Capital Investment Grant program, aiming to bolster transit infrastructure for economic growth. As a result, the steel market is anticipated to thrive, propelled by heightened construction activities and the need for durable materials, reflecting a promising outlook for the industry.

Steel Market -Challenges

Environmental Regulations and Sustainability The steel industry is facing mounting pressure to tackle environmental issues by cutting carbon emissions and enhancing sustainability efforts. Meeting stringent environmental regulations demands substantial investments in technology and infrastructure, presenting a formidable challenge for many companies. Despite the financial hurdles, embracing these changes can pave the way for a more sustainable and eco-friendly future for the industry.

Steel Market - Competitive Landscape The companies referred in the study include Baosteel Co., Ltd., Posco Holding Inc, Nippon Steel Corporation, JFE Holdings, Tata Steel Limited, United States Steel Corporation, Anshan Iron and Steel Group Corporation, Hyundai Steel Co., Ltd., ThyssenKrupp AG, ArcelorMittal S.A., among others. Technology launches, acquisitions, and R&D activities are key strategies adopted by the key players in the Steel Market. 

[tamanna31]

Chillers Market Size, Share, Growth, Analysis Forecast to 2030

Chillers Industry Overview

The global chillers market size was estimated at USD 9,928.3 million in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 4.5% from 2024 to 2030.

The market is driven by the rising need for cost-effective and energy-efficient space cooling solutions in commercial and industrial sectors. This, in turn, is expected to augment the demand for the chillers market over the forecast period.

Gather more insights about the market drivers, restrains and growth of the Chillers Market

According to the U.S. Department of Agriculture (USDA), the growing population, rising consumer disposable income, and ongoing urbanization are expected to augment the growth of commercial and residential sector in the country in the forecast period. The demand for chillers in the U.S. residential sectors is driven by a combination of factors, including the need for efficient and reliable air conditioning systems. With a focus on energy efficiency, homeowners are increasingly adopting chillers equipped with advanced technologies and smart controls to ensure precise temperature regulation while minimizing environmental impact. In the commercial sector, the demand for chillers remains robust, particularly in industries such as hospitality, healthcare, and data centres.

Moreover, chillers play a pivotal role in maintaining optimal temperatures for occupant comfort, equipment reliability, and critical processes. The trend towards sustainable building practices and stringent energy efficiency standards further accelerates the adoption of chillers in both residential and commercial applications across the U.S.

The integration of advanced technologies is transforming the global market. Smart chillers, equipped with IoT capabilities, sensors, and predictive maintenance features, allow for remote monitoring and optimization. These technologies enhance overall system efficiency, reduce downtime, and contribute to cost savings. These aforementioned factors are further expected to drive the demand for market over the forecast period.

Global Chillers Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this report, Grand View Research has segmented the global chillers market report based on product, application, compressor type, and region

Product Outlook (Revenue, USD Million, 2018 - 2030)

Water-Cooled

<50kW

51-100kW

101-500kW

501-1000kW

1001-1500kW

>1501kW

Air -Cooled

<50kW

51-100kW

101-500kW

501-1000kW

1001-1500kW

>1501kW

Application Outlook (Revenue, USD Million, 2018 - 2030)

Commercial

Corporate Offices

Data Centers

Public Buildings

Mercantile & Service

Healthcare

Others

Industrial

Chemicals & Pharmaceuticals

Food & Beverage

Metal Manufacturing & Machining

Medical & Pharmaceutical

Plastics

Others

Residential

Compressor Type Outlook (Revenue, USD Million, 2018 - 2030)

Screw Chillers

Centrifugal Chillers

Absorption Chillers

Scroll Chillers

Reciprocating Chillers

Regional Outlook (Revenue, USD Million, 2018 - 2030)

North America

US

Canada

Mexico

Europe

UK

Germany

France

Italy

Spain

Russia

Asia Pacific

China

Japan

India

Australia

Thailand

South Korea

Indonesia

Malaysia

Central & South America

Brazil

Argentina

Middle East and Africa

Saudi Arabia

South Africa

UAE

Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.

• The global hardfacing welding market size was estimated at USD 1.73 billion in 2023 and is forecasted to grow at a CAGR of 5.3% from 2024 to 2030.

• The global advanced phase change materials market size was valued at USD 3.01 billion in 2023 and is anticipated to reach a CAGR of 8.2% from 2024 to 2030.

Key Chillers Company Insights

The global market is highly competitive on account of the presence of global and local manufacturers. Companies are engaged in expansion through mergers & acquisitions and joint ventures. These companies offer a wide range of systems that are sold through multiple channels, including distributors, company-owned websites, retailers & their websites, and e-commerce websites. For instance, in May 2023, Trane acquired MTA, an Italian manufacturer and distributor specializing in industrial refrigeration and air conditioning equipment. This strategic acquisition is expected to enhance Trane's commercial HVAC capabilities, particularly in key markets, by incorporating MTA's process chillers and expanding the rental and services business. With manufacturing sites located in Tribano and Conselve and a workforce of approximately 500 employees, MTA has an annual production capacity of 13,500 systems.

Key Chillers Companies:

The following are the leading companies in the chillers market. These companies collectively hold the largest market share and dictate industry trends. Financials, strategy maps & products of these chillers companies are analyzed to map the supply network

Trane

Cold Shot Chillers

Tandem Chillers

Drake Refrigeration, Inc

Refra

Carrier

FRIGEL FIRENZE S.p.A.

Midea

Daikin Industries, Ltd.

Johnson Controls

Rite-Temp

General Air Products

ClimaCool Corp.

Fluid Chillers, Inc.

Multistack International Limited

Honeywell International, Inc

Recent Developments

In December 2022, Trane unveiled its latest offerings, the water-cooled XStream eXcellent GVWF and air-cooled Sintesis eXcellent GVAF chillers. These innovative chillers incorporate magnetic-bearing compressors and utilize the low global warming potential (GWP) refrigerant R1234ze. Equipped with high-speed centrifugal compressor technology, these chillers deliver larger capacities, wider operating maps to meet challenging European climate conditions, and enhanced seasonal efficiencies, all while maintaining a compact size

In April 2021, refrigeration equipment manufacturer Refra initiated production operations at its newly established facility in Vievis, located in close proximity to the capital city, Vilnius, Lithuania. Spanning an area of 12,000 square meters, the factory is situated approximately 40 kilometers northwest of Refra's headquarters in Vilnius. The expansion has resulted in the creation of employment opportunities for an additional 100 individuals

Order a free sample PDF of the Chillers Market Intelligence Study, published by Grand View Research.

[researchrealmblog]

What Are Most-Significant Applications of Industrial Refrigeration Systems?

The ongoing COVID-19 pandemic has put the spotlight on the global healthcare ecosystem, as many of the myths about how advanced the medical infrastructure around the world is were busted. With the case and death counts rising, the industry was caught gasping for breath (metaphorically), while the patients were literally gasping for breath (COVID is a lung infection). During this time, the number of research studies being conducted in the pharmaceutical and healthcare sectors on virology skyrocketed, as a vaccine was to be the leader of the charge against the pandemic.

Therefore, the number of clinical trials being conducted for viral vaccines rose massively, as did the worldwide trade of vaccines, aided by several such products getting regulatory approvals. With the healthcare and pharmaceutical sectors expected to not drop their guard for many years to come, the industrial refrigeration systems market size, as calculated by P&S Intelligence, is predicted to increase to $41.1 billion in 2030 from $26.8 billion in 2019, at a 5.0% CAGR between 2020 and 2030.

This is because an efficient, unbroken cold chain is essential for drug development and trade. Refrigerators are not only used to store and transport the final pharmaceutical products but also for the storage and transportation of the raw materials. Pharmaceuticals, biosimilars, excipients, active ingredients, tissues, and blood products are extremely sensitive to heat; therefore, effective cooling is necessary to protect them from damage and make them viable for use over a long time.

Another sector where refrigeration is important for the same reason is food and beverage. Most agricultural products spoil in the heat, which is why keeping them in cool conditions is paramount. Several of the processed food packages carry the directions “store in a cool and dry place”. In food processing factories, the ingredients, intermediate goods, and final products must be refrigerated to increase their shelf life. Thus, with the rising disposable income allowing people in developing countries to purchase processed food, the demand for industrial-grade refrigerators among food and beverage companies is surging.

Other industries where refrigeration is vital are oil and gas, construction, and manufacturing. Since, the food and beverage sector has been the largest user of such systems, their sales have been the highest in Asia-Pacific (APAC). Home to the largest number of people in the world, APAC has the most-productive food and beverage industry. India is already home to the fifth-largest processed food industry, which continues to garner extensive government support. “…the food processing sector in India has received around US$ 7.54 billion worth of Foreign Direct Investment (FDI) during the period April 2000-March 2017.”, says the India Brand Equity Foundation (IBEF).

Moreover, recently, the Indian government announced plans to establish 40 mega food parks, which are essentially integrated manufacturing districts for the food and beverage sector. With this, the industrial refrigeration systems market is poised for strong growth, with such equipment being important in this industry. Moreover, Invest India expects the country’s food processing sector to value more than $500 billion by 2025, which reflects a consistently growing demand for processing equipment.

Hence, with the pharmaceutical and food and beverage production growing, the procurement of industrial-grade refrigerators will escalate too.

[market-spy]

Breathing Easy: Navigating the Unpredictable Terrain of the Medical Oxygen Market

In a world where respiratory diseases are as common as a Monday morning headache, the global market for medical oxygen concentrators and cylinders is growing faster than a pot of coffee in an early morning office. Let’s dive into the nitty-gritty of this market without unleashing the clichéd jargon of “unveiling” or “empowering.”

The Big Picture: 

Picture this — the market size was a hefty USD 4.39 billion in 2022, a number that could make even Scrooge McDuck’s eyes widen. Fast forward to 2031, and we’re looking at a whopping USD 6.59 billion, thanks to a growth rate that even your favorite plant in the corner would envy (4.6% CAGR).

Market Dynamics —

Not Your Average Breath of Fresh Air: So, what’s causing this growth spurt? Well, besides the fact that respiratory diseases are spreading like gossip in a small town, the COVID-19 pandemic decided to crash the party and created a demand surge for medical oxygen equipment worldwide. Who knew a virus could be such a party planner?

The Players — 

Not Your Average Poker Game: In the high-stakes game of medical oxygen, key players are dealing with challenges like regulatory compliance, reimbursement issues, and supply chain disruptions. But fear not, as they’re not just folding — they’re innovating. Strategic partnerships, product innovation, and expanding geographically are the cards they’re playing.

Market Snapshot — 

Like a Selfie but for the Market: The market snapshot shows North America leading the charge, with the United States claiming the throne, probably with a crown made of oxygen cylinders. Home healthcare settings are growing faster than a teenager’s appetite, while hospitals remain the largest segment — because let’s face it, we all need a little extra oxygen when dealing with hospital bills.

Segmental Analysis —

Breaking Down the Oxygen Bubble: Portable and stationary oxygen concentrators are stealing the spotlight from traditional oxygen cylinders. The cool kids on the block are the portable ones, providing oxygen therapy with the convenience of a sidekick. Hospitals are the reigning champs, but home healthcare settings are the dark horses in this race.

Regional Insights — 

From Hollywood to Bollywood: North America takes the lead, with the U.S. flaunting its developed healthcare system and a high rate of chronic respiratory illnesses. Latin America and the Asia-Pacific region are catching up like they just found out about this medical oxygen party, driven by a growing geriatric population, rapid economic expansion, and increased healthcare awareness.

For More Information: https://www.skyquestt.com/report/medical-oxygen-concentrators-and-oxygen-cylinders-market

Market Trends — 

More Than Just Hot Air: The market is shifting towards portable and home-based solutions faster than you can say “breathe easy.” Technological advancements and innovation are not just buzzwords here; they’re making oxygen concentrators and cylinders more user-friendly, efficient, and portable. It’s like upgrading from a flip phone to the latest smartphone — but for your lungs.

Competitive Landscape — 

The Real MVPs: Key players like Inogen, Philips Respironics, and DeVilbiss Healthcare are not just names; they’re the superheroes of the medical oxygen world. They’re in a fierce competition, not with capes, but with innovation, mergers, and strategic alliances. It’s like a Marvel movie, but for healthcare.

Recent Developments —

 The Plot Thickens: In a plot twist worthy of an Oscar, Chart Industries Inc. acquires AirSep Corporation for a cool USD 1.1 billion, Inogen, Inc. snatches up Respironics, Inc. for USD 8 billion, and Longfian Scitech Co., Ltd. gets a new owner in Drive DeVilbiss Healthcare for a staggering US$ 1.3 billion. Move over Hollywood, we’ve got medical oxygen dramas!

Key Market Trends — 

Breathing Life into the Market: The market is shifting towards portable and home-based solutions, and technological advancements are making oxygen concentrators and cylinders more user-friendly and efficient. It’s like upgrading from a rusty bicycle to a sleek electric scooter — but for your respiratory system.

Conclusion — 

Breathing Easy in a Chaotic World: As the world grapples with respiratory challenges, the medical oxygen concentrators and cylinders market is on the rise. With key players innovating, regions catching up, and trends shifting towards convenience, it’s safe to say that breathing easy is not just a luxury — it’s a necessity.

So, buckle up and get ready for a breath-taking journey through the unpredictable terrain of the medical oxygen market. It’s not just hot air; it’s the oxygen we all need to survive — in style.

About Us-

SkyQuest Technology Group is a Global Market Intelligence, Innovation Management & Commercialization organization that connects innovation to new markets, networks & collaborators for achieving Sustainable Development Goals.

Contact Us-

SkyQuest Technology Consulting Pvt. Ltd.

1 Apache Way,

Westford,

Massachusetts 01886

USA (+1) 617–230–0741

Email- info@skyquestt.com

Website: https://www.skyquestt.com

[sqinsights]

Breathing Easy: Navigating the Unpredictable Terrain of the Medical Oxygen Market

In a world where respiratory diseases are as common as a Monday morning headache, the global market for medical oxygen concentrators and cylinders is growing faster than a pot of coffee in an early morning office. Let’s dive into the nitty-gritty of this market without unleashing the clichéd jargon of “unveiling” or “empowering.”

The Big Picture: 

Picture this — the market size was a hefty USD 4.39 billion in 2022, a number that could make even Scrooge McDuck’s eyes widen. Fast forward to 2031, and we’re looking at a whopping USD 6.59 billion, thanks to a growth rate that even your favorite plant in the corner would envy (4.6% CAGR).

Market Dynamics —

Not Your Average Breath of Fresh Air: So, what’s causing this growth spurt? Well, besides the fact that respiratory diseases are spreading like gossip in a small town, the COVID-19 pandemic decided to crash the party and created a demand surge for medical oxygen equipment worldwide. Who knew a virus could be such a party planner?

The Players — 

Not Your Average Poker Game: In the high-stakes game of medical oxygen, key players are dealing with challenges like regulatory compliance, reimbursement issues, and supply chain disruptions. But fear not, as they’re not just folding — they’re innovating. Strategic partnerships, product innovation, and expanding geographically are the cards they’re playing.

Market Snapshot — 

Like a Selfie but for the Market: The market snapshot shows North America leading the charge, with the United States claiming the throne, probably with a crown made of oxygen cylinders. Home healthcare settings are growing faster than a teenager’s appetite, while hospitals remain the largest segment — because let’s face it, we all need a little extra oxygen when dealing with hospital bills.

Segmental Analysis —

Breaking Down the Oxygen Bubble: Portable and stationary oxygen concentrators are stealing the spotlight from traditional oxygen cylinders. The cool kids on the block are the portable ones, providing oxygen therapy with the convenience of a sidekick. Hospitals are the reigning champs, but home healthcare settings are the dark horses in this race.

Regional Insights — 

From Hollywood to Bollywood: North America takes the lead, with the U.S. flaunting its developed healthcare system and a high rate of chronic respiratory illnesses. Latin America and the Asia-Pacific region are catching up like they just found out about this medical oxygen party, driven by a growing geriatric population, rapid economic expansion, and increased healthcare awareness.

For More Information: https://www.skyquestt.com/report/medical-oxygen-concentrators-and-oxygen-cylinders-market

Market Trends — 

More Than Just Hot Air: The market is shifting towards portable and home-based solutions faster than you can say “breathe easy.” Technological advancements and innovation are not just buzzwords here; they’re making oxygen concentrators and cylinders more user-friendly, efficient, and portable. It’s like upgrading from a flip phone to the latest smartphone — but for your lungs.

Competitive Landscape — 

The Real MVPs: Key players like Inogen, Philips Respironics, and DeVilbiss Healthcare are not just names; they’re the superheroes of the medical oxygen world. They’re in a fierce competition, not with capes, but with innovation, mergers, and strategic alliances. It’s like a Marvel movie, but for healthcare.

Recent Developments —

 The Plot Thickens: In a plot twist worthy of an Oscar, Chart Industries Inc. acquires AirSep Corporation for a cool USD 1.1 billion, Inogen, Inc. snatches up Respironics, Inc. for USD 8 billion, and Longfian Scitech Co., Ltd. gets a new owner in Drive DeVilbiss Healthcare for a staggering US$ 1.3 billion. Move over Hollywood, we’ve got medical oxygen dramas!

Key Market Trends — 

Breathing Life into the Market: The market is shifting towards portable and home-based solutions, and technological advancements are making oxygen concentrators and cylinders more user-friendly and efficient. It’s like upgrading from a rusty bicycle to a sleek electric scooter — but for your respiratory system.

Conclusion — 

Breathing Easy in a Chaotic World: As the world grapples with respiratory challenges, the medical oxygen concentrators and cylinders market is on the rise. With key players innovating, regions catching up, and trends shifting towards convenience, it’s safe to say that breathing easy is not just a luxury — it’s a necessity.

So, buckle up and get ready for a breath-taking journey through the unpredictable terrain of the medical oxygen market. It’s not just hot air; it’s the oxygen we all need to survive — in style.

About Us-

SkyQuest Technology Group is a Global Market Intelligence, Innovation Management & Commercialization organization that connects innovation to new markets, networks & collaborators for achieving Sustainable Development Goals.

Contact Us-

SkyQuest Technology Consulting Pvt. Ltd.

1 Apache Way,

Westford,

Massachusetts 01886

USA (+1) 617–230–0741

Email- info@skyquestt.com

Website: https://www.skyquestt.com