Market Bytes

Global Industry Analysts, Inc.

[marketbytes]

The global market for Power Management System is projected to reach US$5.7 billion by 2025, driven by digitalization, electronification and electrification trends sweeping through industries ranging from automotive, maritime transport, oil & gas, mining, heavy engineering to process manufacturing. In sync with digital maturity, electrification and digitalization of everything (DOE) is hitting a peak. On the back of this digital transformation comes the critical need for power management to ensure optimum utilization of power by electrical and electronic systems. With automation, robotics and IoT connectivity proliferating in smart factories around the world, there is a critical need to ensure robustness of electrical systems. Power management systems, in this regard, help improve reliability of electrical distribution and optimize consumption. Plant assets involving hydraulics, electric motors, electrical generators, turbines, and electrical heavy machinery need a mechanism for monitoring power consumption and usage by these myriad equipment. Power management systems enable intelligent monitoring of energy consumed by various electronic/electrical systems; deploy automatic enforcement of power management scheme; ensures timely identification of unusual power consumption patterns and inefficiencies in the system; ensures safety; lowers costs and safeguards against blackouts and unscheduled downtime of assets. Electronification and electrification of vehicles along with the impending commercialization of autonomous cars are pushing up the importance of on-board power management systems for vehicles in the automotive sector. Similarly, the maritime transport industry is also throwing up attractive opportunities for growth supported by a large global maritime transport fleet and an encouraging outlook for seaborne trade. Read More…

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The global market for Material Handling Equipment is projected to reach US$190.3 billion by 2025, driven by the strong emphasis shed on production and operational efficiency and worker safety. The concept of “last mile” is widely popularized in supply chain management and transportation planning for its ability to increase customer satisfaction and profitability. Automation, optimization and delivery route planning are therefore vital strategies adopted by companies to improve their last mile performance. Of equal importance are the “first mile” operations involving indoor material handling on the plant floor. Raw material being the primary and most importance element in manufacturing needs to move through multiple stages of production and final packaging in a smooth and seamless manner to prevent logistical bottlenecks in production. Timely handling of materials is important to ensure that right materials in right quantities are delivered to the right locations at the right time. To ensure quality of the finished products, materials must also be handled with care to prevent and eliminate the risk of damage. Material handling is a repetitive and labor intensive activity well suited for automation as it reduces labor costs, enhances speed and efficiency of operations, and eliminates the risk of errors and material damage. Automation of material handling processes also has the benefit of making the workplace more safer.  Automation will help eliminate accidents and occupational safety issues associated with manual labor contributing towards better worker safety, health, wellness, and reduced company expenditure on employee insurance and compensation.  The importance of the financial savings that can accrue from ensuring conformance to safety regulations cannot be undermined especially against the backdrop where legislations are becoming stringent and exceedingly punitive.  Read More…

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The global market for Temporary Power is projected to reach US$8 billion by 2025, driven by the growth in construction projects and the need for site preparation with the necessary infrastructure that includes electrical power supply. Temporary power is critical for construction projects to power onsite construction machinery and tools such as powered tools, and lighting etc. required to support the construction activities, site workforce and equipment.

Residential construction, commercial construction and public works require electricity to be delivered onsite. Temporary power can be provided in two basic configurations i.e. overhead and underground. Long-term projects with higher electrical loads and safety issues often require underground provision of temporary power via underground placement of electrical cables, trenching, and wiring. The market is therefore benefiting from the recovering construction activity in most countries across the global and the huge opportunities in the retrofit market driven by global ‘green’ building standards will also influence growth in the market. Recovery in construction which began in 2011 in the aftermath of the great recession is continuing even today, albeit with slight bumps and turns. This is largely because of the success with which the industry has and continues to evolve and adapt to changes in labor availability, technology and economic turmoil. Digital technologies for concept, design, engineering and building; rise of AR/VR in digital construction; connected construction; smart on-site equipment; increase in modular and prefabricated construction; use of Building Information Monitoring (BIM), automation , robotics, AI, Drones and 3D Printing etc. have helped the industry fight the changing economic realities and remain afloat. Healthy outlook for global investments in construction technologies (Contech) also bodes well for the overall outlook for the construction industry in 2020. Read More…

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The global market for Consumer Batteries is projected to reach US$50 billion by 2025, driven by the growing indispensability of batteries in the digital era of laptops, smartphones, tablets, smart electronic wearables and digital cameras. As the most important portable power source, batteries are omnipresent in virtually every sector that utilizes electronic/electrical equipment.

In the consumer electronics sector, smartphones need long-lasting batteries; electronic wearables need cost-effective battery solutions; and consumer internet of things (IoT) to reach its full potential needs smart batteries. Consumerism, especially digital consumerism, is driving increased use of digital technology, tools and devices. This rise of digital consumers is supported by a host of factors such as rapid development of internet infrastructure; spread of mobile communication network technologies like 4G and 5G; falling cost of mobile data and voice tariffs; falling prices of smartphones and their rapid penetration. All of these factors have changed the way people consume digital goods and services, leading the way to rapid proliferation of digital devices and platforms. Deeper engagement with digital technologies is further being encouraged by concepts such as consumer IoT; smart homes; and home automation. Against this backdrop of the emergence of the modern digital consumer, the consumer electronics industry is poised to grow from US$322.8 billion in 2018 to over US$623.4 billion by 2024. This emerging opportunity brings batteries into the spotlight as a key enabler of the age of portable electronics and smart mobile computing. Read More…

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The global market for Hindered Amine Light Stabilizers (HALS) is projected to reach US$1.2 billion by 2025, driven by the growing ubiquity of polymers as advanced materials used in a wide range of consumer and industrial products. Ranging from plastics, nylon, polyethylene, polyester, polyvinyl chloride, polytetrafluoroethylene to epoxy, synthetic polymers are omnipresent and quite literally are indispensable in modern life. Characteristics of polymers that make them important materials of the 21st century include resistance to a wide range of chemicals; thermal and electrical insulation properties; lightweight; high mechanical strength; and extreme flexibility in processing. Another key reason for the ubiquity of polymers is the limitless potential in expanding polymer product possibilities by manipulating the molecular structure of polymers and by adding myriad fillers, reinforcements and additives. The global push towards substitution of paper, metals, wood and glass with polymers is additionally driving their use and ubiquity worldwide. Packaging, automobiles and healthcare are major emerging markets for polymers. Under this scenario durability of polymers is gaining increased attention. Behavior of polymers such as physical aging, and degradation process/mechanisms are attracting increased R&D with these materials finding increased use in critical applications such as in photovoltaic modules, in construction in the form of structural polymers, in aerospace for aircraft components, in medical equipment, among others. Also, polymers are increasingly being used applications that require exposure to extreme temperatures and chemical environments, thereby putting higher stress on polymers and their durability. Against this backdrop, service life prediction is becoming increasingly important. Read More…

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The global market for Non-Destructive Testing (NDT) Services is projected to reach US$8.9 billion by 2025, driven by the growing importance shed on material inspection against the backdrop of strong focus shed on quality assurance of structural and mechanical components operating in demanding application environments. NDT is used widely in civil engineering for testing concrete structures; oil & gas and mining industry for monitoring integrity of assets non-intrusively; semiconductor industry for wafer testing; nuclear power plants for continuous inspection of critical parts and components of nuclear reactors; and pipeline and piping system inspection, among others. Technologies used for NDT include Acoustic Emission Testing (AE), Electromagnetic Testing (ET), Ground Penetrating Radar (GPR), Laser Testing Methods (LM), Magnetic Flux Leakage (MFL), Microwave Testing, Liquid Penetrant Testing (PT), Magnetic Particle Testing (MT), Neutron Radiographic Testing (NR), Radiographic Testing (RT), Thermal/Infrared Testing (IRT), Ultrasonic Testing (UT), Time of Flight Diffraction (ToFD), Pulse Echo Inspection, Guided Wave Testing (GW), Electromagnetic Acoustic Transducer (EMAT) Testing, among others. In addition to stringent safety regulations and quality standards, other factors driving the need for NDT include aging infrastructure worldwide which is spurring the importance of structural health monitoring (SHM) of bridges, tunnels etc. for signs of wear & tear, fatigue, corrosion, and stress; and growing manufacturing competitiveness and the ensuing focus on asset integrity and quality of manufactured products. Read More…

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The global market for Bottled Water is projected to reach US$307.6 billion by 2025, driven by the growing need to slake the thirst of a growing world population. World population is poised to grow from 7.8 billion in 2019 to over 9.8 billion by 2050. In line with this growth, there will be a parallel increase in demand for safe drinking water. Per capita consumption of drinking water in the coming years is poised to increase with science based evidence highlighting water’s role in health and wellness. Few of the reasons why water is important to human health include its vital role in flushing out waste from the body; regulating body temperature; maintaining brain function; producing saliva; protecting tissues and joints; aids in nutrient absorption and digestion; improves blood oxygen circulation; boosts energy; optimizes cognitive function; helps retain youthful and supple skin. Scientific studies have also shown water’s effectiveness in treating medical conditions such as constipation, kidney stones, exercise-induced asthma, urinary tract infection, and hypertension, among others. Against the backdrop of compelling evidence of the benefits of proper hydration, per capita consumption of water is expected to increase between 5 liters to 8 liters per day. Under this scenario, bottled water market is poised to witness strong demand. Bottled water symbolizes a healthful lifestyle and is positioned on the platform of being a convenient, safe and healthy hydration beverage. Defined as drinking water packaged in plastic or glass bottles, bottled water offers numerous benefits, with the most important being portability and ability to stay hydrated anytime, anywhere. Stringent labelling regulations are giving consumer confidence in bottled water a boost. Read More…

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The global market for Plastics Processing Machinery is projected to reach US$24.3 billion by 2025, driven by the ubiquitous consumption of plastics in virtually all consumer-oriented, industrial and commercial sectors. From plastic bottles, plastic bags to automotive, aerospace and electronics grade plastics, the world remains addicted to plastics despite the growing burden of plastic waste. Plastics are important manufacturing materials as they have high resistance for electricity conduction, are lightweight, durable, malleable, strong, cost effective and affordable. Engineered plastics are additionally fire-resistant, bacteria resistant and have greater mechanical strength. Continuous innovations in plastics are driving large scale displacement of metals with plastics. The rise of recycled plastics and bioplastics are deflecting the heat raised by the environmental footprint of traditional plastics, promising to provide plastics a strong place even in the emerging sustainable, circular economy. Injection plastics molding technologies are increasingly being adapted to process various types of biodegradable plastic resins in the wake of the soaring eco-conscious in the consumer market. Biodegradable plastic resin compatible with plastic injection molding technology include Thermoplastic Starch-based Plastics (TPS); Polybutylene Succinate (PBS); Polyhydroxyalkanoates (PHA); Polylactic Acid (PLA); and Polycaprolactone (PCL). Read More…

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Global shipments of Vinyl Prime Windows are projected to exceed 211.9 million units by 2025, driven by growing investments in energy efficient building products and solutions chiefly for their ability to bring in high ROI benefits. Recovering construction activity in most countries across the global and the huge opportunities in the retrofit market driven by global ‘green’ building standards will also influence growth in the market. Recovery in construction which began in 2011 in the aftermath of the great recession is continuing even today, albeit with slight bumps and turns. This is largely because of the success with which the industry has and continues to evolve and adapt to changes in labor availability, technology and economic turmoil. Digital technologies for concept, design, engineering and building; rise of AR/VR in digital construction; connected construction; smart on-site equipment; increase in modular and prefabricated construction; use of Building Information Monitoring (BIM), automation , robotics, AI, Drones and 3D Printing etc. have helped the industry fight the changing economic realities and remain afloat. Healthy outlook for global investments in construction technologies (Contech) also bodes well for the overall outlook for the construction industry in 2020. The scenario is poised to generate stable opportunities for all players in the construction value chain, including construction materials. High degree of versatility and flexibility means vinyl windows can be easily customized to non-standard sized and shaped windows. Demand also will benefit from the growing trend towards green buildings; and favorable government support for sustainable and energy-efficient construction. Read More…

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The global market for Marine Biotechnology is projected to reach US$6.1 billion by 2025, driven by the rise of “circular economy” as the blueprint for a new sustainable economy in the 21st century. Against the backdrop of this age of “Sustainalism”, marine biotechnology is in the spotlight as it carries an ocean of answers to several of the stubborn conventional polluting practices currently adopted. From addressing the plastics threat by using marine organisms to produce eco-friendly chemicals like biopolymers, developing microbial energy as an environmentally-friendly alternative to crude oil and gas to developing natural and safe life-saving pharmaceuticals, marine biotechnology holds answers to several of the most urgent and pressing questions faced today. The global bioplastics and biopolymers market is increasingly looking towards new advances made in marine biotechnology to develop completely new class of biodegradable biopolymers. New research has revealed the ability to process crabs, shrimp, and prawn biowastes into naturally occurring biopolymers “chitin” and “chitosan”. Chitosan, like Polylactic acid (PLA), also features beneficial characteristics such as biocompatibility, biodegradability, non-toxicity, antimicrobial activity, high mechanical strength, and chemical inertness. Marine biotechnology is also immensely influencing the energy industry. The development of new ways to produce microbial energy and microbial energy conversion holds immense promise in utilizing available forest biomass inventory for generating electricity. New concepts like “Microbial Fuel Cells” are also taking flight backed by the progress made in this field.  While food crops and ligno-cellulosic plant biomass have long been studied and commercialized as an alternative feedstock for biofuels production, new developments in marine biotechnology are helping bring even marine macro algae “Ulva Lactuca” as a potential feedstock for the production of bio-ethanol and biogas production. Energy production from marine biomass is therefore an exciting example of how marine biotechnology can change our energy production practices.  Read More…

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The global market for Aerospace Additive Manufacturing is projected to reach US$2.5 billion by 2025, driven by increasing investments in the technology by aircraft OEMs and component suppliers. Players in the industry currently operate in a difficult market environment made challenging by factors such as taut economic climate that does not favor resource inefficiencies and wastages, rising competition, financial and budgetary constraints, growing burden of regulatory compliance, threat of disruption posed by digitization and globalization, and challenges in information and operations management. Manufacturers and service providers in the industry feel the competitive heat to innovate engineering and manufacturing processes and optimize supply chain to reduce costs, optimize production cycle and enhance efficiencies. The convergence of myriad disruptive factors is fundamentally changing the structure and competitive dynamics of the aerospace industry, necessitating changes in business models for survival in a rapidly transforming landscape. Additive manufacturing is therefore becoming an enterprise strategy. In this regard, a key advantage of additive manufacturing is the ability to create and produce intricate components and sub-assemblies. It also enables parts consolidation as against the traditional need for several separate components. Additive manufacturing machines therefore have the potential to emerge into a “supply chain in a box” phenomenon, allowing aerospace companies to enjoy supply chain management agility.  Read More…

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The global market for Microgrid Control Systems is projected to reach US$3.9 billion by 2025, driven by the rapid migration towards decentralized energy systems. The focus on sustainable energy against the backdrop of growing urgency to address climate change ranks as the primary factor driving adoption of decentralized energy systems. Other benefits offered include ability to utilize more renewable energy, reduced dependence on fossil fuels, more stable and largely lower energy prices, elimination of challenges involved in energy loss during long distance transmission, and reduced need to invest in electricity grid transmission and distribution capacity upgrades. In addition, centralized power grids are aging and suffer from grid power quality issues, and also lack the flexibility to adjust to changing energy consumption patterns worldwide. Also, with several countries worldwide legislating mandatory renewable energy targets, the move towards distributed energy infrastructure is gaining momentum as production of energy closer to consumption areas supports smaller scale generation of renewable energy. Until now, in most markets across the globe power outage and/or scheduled blackouts was the popular load shedding strategy adopted to meet peak demand. However, with rapid digitalization, electrification and electronification of modern societies such a load shedding strategy is unsustainable and detrimental to the growth of economies. As a result, there is strong focus on integrating higher shares of intermittent sources of renewable energy to meet peak demand. The scenario is leading to the development of hybrid energy systems to ensure reliable and sustainable supply of electricity. With traditional utilities stretched to the breaking point due to rapid population growth, urbanization and demands of the digital age, microgrids are the future of smart and distributed energy generation and distribution. Read More…

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The global market for Aircraft Cabin Interiors is projected to reach US$36.6 billion by 2025, driven by shifting interior design perspectives which are changing from the traditional focus on functional optimization towards quality of passenger experience. The quality of the travelling environment is today of significant importance for airline companies against a backdrop of growing competition and increased commoditization of air travel services. One of the ways to de-commoditize air travel is to create new value.  With people around the globe today increasingly investing in memories that come with vacations and family travels rather than spending on material things, the flying experience, especially in-flight experience is gathering importance. Comfortable interiors are therefore emerging into a powerful service differentiator. The psychological impact of comfort is helping bring aircraft interiors into focus on par with mechanical engineering designs. Few of the ways in which cabin interiors influence passenger comfort and flying experience include cabins adorned and decorated with rich tapestry, upholstery and furnishings help impart of sense of luxurious comfort; bright and stylish cabins create a feeling of well-being and satisfaction with the services offered; cabins with more space and legroom create an Illusion of more value for money; cabin lighting schemes influence passenger moods and perception of quality of the airline service. Similar to lighting, the color of cabin interiors also influence passenger mood and this explains why a large majority of aircraft have blue colored seats. Blue as a color is known for its calming effect and is therefore valued for its touted ability to make travel less stressful by invoking feelings of trust, efficiency, serenity, coolness. Other popular colors for cabin interiors include yellow which boosts self-esteem, optimism and confidence; green which encourages feelings of harmony, equilibrium and peace; and orange which brings sensuality, passion and fun into the flying experience. Read More…

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The global market for Automotive Chassis is projected to reach US$66.7 billion by 2025, driven by stable production of passenger cars and commercial vehicles. In the passenger cars sector, the projected demand for electric vehicles (EVs) is acting as a key growth catalyst. Defined as the loadbearing framework of the vehicle, the chassis combines engine, power-transmission system, wheels, axles and suspension system in a single structurally independent frame.  It represents the most fundamental mechanical system of the vehicle. A key trend in chassis design and production is the migration towards modular vehicle platforms wherein multiple vehicle models share the same undercarriage design and architecture. When a single chassis design is used to manufacture differently-styled vehicle bodies, it reduces cost and complexity of producing myriad vehicle models. Multiple lines of vehicle models can be designed using the same assembly line infrastructure.  It allows larger number of models to be produced in a single plant and significantly slices vehicle development costs. The modular approach allows dynamic reorganization of manufacturing capacity and also reduces the burden of overcapacity. It allows OEMs to flexibly adjust and adapt production processes and system to align with changing demand for each model type. In the commercial vehicles sector especially, the need for rapid vehicle prototyping is driving the prominence and popularity of flexible rolling chassis wherein a single base vehicle platform can be used to create several vehicle options. Against the backdrop of the optimistic outlook for the future of EVs, OEMs are now focusing on developing common chassis/platforms that can be shared between hybrid vehicles and fully electric vehicles. Volkswagen Group has set into motion a new era in platform management with the development of the US$60 billion Modular Transverse Matrix Platform (MQB). MQB is a vehicle platform technology common to several of the company’s models ranging from hatchbacks to SUVs. All cars irrespective of varying wheelbase and outer body dimension, built on the MQB platform share common engine positioning, pedal box and front axle. Read More…

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The global market for Wearable Electronics is projected to reach US$61.4 billion by 2025, driven by the availability of inexpensive sensors, miniaturized yet powerful microchips and processors, low-power lighter electronic components, evolving app ecosystem and the resulting expansion of applications addressed by wearable products and services. After smartphones and tablets, smart wearables is the new innovation taking the technology to a fevered pitch in the consumer electronics industry. These tiny devices hold the potential to replace smartphones, make the many benefits of digital health real and achievable, enable the rise of hyper-connected interactive enterprises, and make clothing smart, fashionable, functional and comfortable. Benefits of wearables devices include lightweight, extreme portability, durable, easily transportable, convenience, ease-of-use and comfort. Smartwatch is the most popular form and dominant factor for wearables. Other evolving new designs include smart glasses, goggles, bracelets, armbands, necklaces, lanyards, pins, clips, headbands, headsets, belts, shoes, shirts, Jackets and pants, among others. The biggest area of impact in electronic wearables is in the healthcare industry. Medical grade wearables are poised to create a revolution in personalized digital healthcare. Wearables will enable telehealth via remote patient monitoring (RPM) capabilities making healthcare services more efficient, self-determined and cost efficient. Opportunities in this space are immense as the current healthcare system seeks to utilize telehealth to advance value based care goals. A key benefit of telehealth is its ability to drive positive patient experience and eliminate access barriers to offer patient-centric and convenient care. Wearables will also play a key role in precision medicine by providing physicians better knowledge of patients’ health. Integration of sensors such as physiological sensors and biochemical sensors will provide continuous monitoring of a patient’s vital signs and timely clinical decisions can be taken such as therapy modifications based on subtle changes observed in health patterns. Read More…

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The global market for Modular Laboratory Automation is projected to reach US$4.2 billion by 2025, driven by the growing value of a modular and integrated approach to automation. Benefits of modular concepts in automation include greater process flexibility such as effortless scaling up and scaling down of processes to meet changing workload needs; greater ability to redeploy or reposition key operational assets; investment flexibility as the automation process can be segmented and implemented in a piecemeal basis; lower costs associated with standardized maintenance; development of additional modules can be carried out seamlessly and in a cost effective; increased efficiency and productivity and lesser time-to-market. For laboratories, automation is a critical survival technology against the backdrop of intensifying competition as clinical diagnostics increasingly becomes a key component in the healthcare value game. As the starting point for effective treatment, medical diagnostics play a key role in the provision of healthcare services. The sector therefore faces intense challenges of delivering and demonstrating value to the wider healthcare system. Margin pressure as a result is increasing by the day. Also, given that in the new value based care model, reimbursement is based on quality of service offered to patients and the resulting patient outcome, laboratories are coming under pressure to find new ways to enhance productivity and to gain greater recognition for their contribution towards improving patient outcomes and reducing treatment costs. Budgetary outlays for automation is therefore increasing. However complete automation remains expensive and in the United States alone, only less than 15% of laboratories can afford total laboratory automation systems. Read More…

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The global market for Stem Cell Banking is projected to reach US$9.9 billion by 2025, driven by their growing importance in medicine given their potential to regenerate and repair damaged tissue. Stem cells are defined as cells with the potential to differentiate and develop into different types of cells. Different accessible sources of stem cells include embryonic stem cells, fetal stem cells, peripheral blood stem cells, umbilical cord stem cells, mesenchymal stem cells (bmMSCs) and induced pluripotent stem cells. Benefits of stem cells include ability to reverse diseases like Parkinson's by growing new, healthy and functioning brain cells; heal and regenerate tissues and muscles damaged by heart attack; address genetic defects by introducing normal cells; reduce mortality among patients awaiting donor organs for transplant by regenerating healthy cells and tissues as an alternative to donated organs. While currently valuable in bone marrow transplantation, stem cell therapy holds huge potential in treating a host of common chronic diseases such as diabetes, heart disease (myocardial infarction), Parkinson's disease, spinal cord injury, arthritis, and amyotrophic lateral sclerosis. The technology has the potential to revolutionize public health. The growing interest in regenerative medicine which involves replacing, engineering or regenerating human cells, tissues or organs, will push up the role of stem cells. Developments in stem cells bioprocessing are important and will be key factor that will influence and help regenerative medicine research move into real-world clinical use.  The impact of regenerative medicine on healthcare will be comparable to the impact of antibiotics, vaccines, and monoclonal antibodies in current clinical care. With global regenerative medicine market poised to reach over US$45 billion 2025, demand for stem cells will witness robust growth.  Read More…