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Floating Power Plant Market: South East Asias Renewable Revolution

Floating power plants, particularly floating solar panels, have gained traction recently as innovative renewable energy solutions. Inkwood Research predicts the global floating power plant market to project a 10.74% CAGR, generating a revenue of $19.92 billion during the forecast period, 2023-2028. With its unique geographical and socio-economic characteristics, South East Asia is at the forefront of this emerging trend.

Floating Power Plants in South East Asia: 5 Pillars of Development

Pillar 1: Harnessing Abundant Water Resources and Overcoming Land Scarcity

Water Bodies as Alternative Spaces: South East Asia is home to abundant water resources, including reservoirs, lakes, and ponds. These vast water surfaces present a significant opportunity for deploying floating solar panels, which can help the region tap into a previously underutilized renewable energy source. With the increasing global focus on sustainability and reducing carbon emissions, floating solar panels provide an innovative solution that capitalizes on the region’s geographical strengths. (Source: Asian Development Bank)

Limited Land Availability: The region’s rapid urbanization and high population density have led to land scarcity, making finding suitable sites for ground-mounted solar installations challenging. In countries like Singapore, where land is a premium resource, floating power plants are a viable alternative that helps overcome land constraints. By utilizing untapped water surfaces, floating solar panels can provide a renewable energy solution that does not compete for land with agricultural, industrial, or residential development. (Source: World Bank)

Pillar 2: Financial Viability and Technological Advancements

Decreasing Costs: In recent years, the Levelized Cost of Electricity (LCOE) for floating solar systems has decreased significantly, making them more competitive with traditional solar installations. This reduction in cost is attributed to economies of scale and technological advancements in floating solar panel design, manufacturing, and installation. As the cost of floating solar panels continues to fall, more businesses and investors in South East Asia are likely to invest in this renewable energy solution. (Source: International Renewable Energy Agency)

Pillar 3: Government Commitment and Incentive Programs

Thailand’s Renewable Energy Target: The Thai government has set an ambitious target to increase its renewable energy generation capacity to 30% by 2037. As part of this commitment, the government has identified floating solar as a key technology for achieving this goal. By actively promoting and supporting floating solar projects, the Thai government is driving the growth of floating power plants in the region. (Source: World Economic Forum)

Incentives in the Philippines and Indonesia: Both the Philippines and Indonesia have introduced feed-in-tariff schemes to encourage investment in floating solar projects. These incentive programs provide financial support to businesses and investors, making investing in floating power plants more attractive. By offering these incentives, the governments of the Philippines and Indonesia are demonstrating their commitment to renewable energy and fostering the growth of floating solar installations. (Source: International Energy Agency)

Pillar 4: Boosted Energy Efficiency and Infrastructure Synergies

Cooling Effect: One of the unique advantages of floating solar panels is the cooling effect provided by the water on which they are installed. This cooling effect leads to higher energy production, especially in tropical regions like South East Asia, where heat can negatively impact the efficiency of traditional solar panels. By maintaining lower operating temperatures, floating solar panels can produce more energy and generate a higher return on investment for businesses and investors. (Source: ScienceDirect)

Integration with Hydroelectric Dams: Floating solar panels offer the potential for seamless integration with existing hydroelectric infrastructure. By utilizing the surface area of reservoirs associated with hydroelectric dams, floating solar panels can be installed without requiring additional land or extensive modifications to the existing infrastructure. This integration results in a more stable and consistent power supply, as it combines the strengths of both hydroelectric power, which can be generated around the clock, and solar power, which is produced during daylight hours. (Source: Asian Development Bank)

Pillar 5: Environmental and Social Benefits

Reduced Land Use and Deforestation: Floating solar panels offer significant environmental advantages compared to ground-mounted installations. By minimizing land use, floating power plants help avoid deforestation or land conversion, which can have harmful environmental impacts. This reduced land use also means that floating solar panels can be installed without displacing local communities or agricultural activities, making them a more socially responsible renewable energy option. (Source: International Renewable Energy Agency)

Biodiversity and Aquatic Life: Floating solar panels can also benefit local ecosystems. By creating shaded areas on the water’s surface, floating solar panels can help reduce water evaporation and create habitats for aquatic life. This, in turn, promotes biodiversity and contributes to the health and resilience of local ecosystems. Furthermore, the structures supporting floating solar panels can serve as artificial reefs, providing additional habitat for fish and other marine life. (Source: Frontier)

Floating Power Plants: South East Asia’s Renewable Revolution

The five pillars of floating power plants in South East Asia provide a comprehensive understanding of the factors contributing to the rapid adoption of this technology in the region. As businesses and governments continue to prioritize sustainability and renewable energy, floating power plants offer an attractive, environmentally friendly solution that maximizes the region’s unique strengths. By harnessing abundant water resources, overcoming land scarcity, leveraging financial viability, benefiting from government support, and promoting energy efficiency, these plants are poised to play a significant role in shaping the renewable energy landscape in South East Asia. These factors are anticipated to further propel the global floating power plant market growth.

By Sukanya Mukherjee

FAQs:

What are some of the leading trends in the global floating power plants market?

The popularity of Internal Combustion (IC) engine-based floating power plants, and an increasing number of power plants are some of the leading trends in the global floating power plants market.

Which is the dominating source in the global floating power plants market?

The non-renewable power source is the dominating source in the global floating power plants market.

Increasing Focus on Regenerative Medicine favorable to Global 3D Bioprinting Market Growth

As per Inkwood Research, the Global 3D Bioprinting Market is expected to record a CAGR of 16.69% in terms of revenue during 2023-2032.

“Browse 73 Market Data Tables and 57 Figures spread over 270 Pages, along with an in-depth TOC on the Global 3D Bioprinting Market Forecast 2023-2032.”

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3D bioprinting is a fast-growing domain in the medical industry. It has been evaluated to potentially revolutionize medical treatments. Also, it is deemed to offer an efficient and ethical approach to creating organs for transplant. In addition, 3D bioprinting is expected to minimize the costs associated with organ transplants. Such aspects contribute to the global 3D bioprinting market growth opportunities.

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Rising Focus on Regenerative Medicine boosts Market Growth

Recent developments in 3D bioprinting have huge potential in regenerative medicine (RM) with applications in organ & tissue transplants. Most developments are primarily driven by technological advancements in tissue engineering and stem cell biology. The growing focus on regenerative medicine is propelled by the increasing number of chronic and degenerative diseases that place cost pressures on healthcare providers. Accordingly, long-term cell, organ, and tissue replacement will provide an alternative to transplantation alongside therapeutic options for degenerative conditions currently only managed through palliation.

Furthermore, governments across the United States and Europe have recognized regenerative medicine and tissue engineering as research priorities. Moreover, 3D bioprinting has emerged as a viable alternative and addresses certain challenges classical tissue engineering methods face. Such developments are projected to drive the global 3D bioprinting market growth.

Inkjet-Based Bioprinting: Dominating Technology

Inkject-based bioprinting facilitates printing complex tissues or living organs on the culture substrates using biomaterials as bioinks. The wide-scale adoption of inkjet-based printing in the medical domain is a key contributor to the segment’s growth. Also, the research trends with regard to inkjet printing as a bio-applicable technology in drug delivery systems and tissue engineering.

North America: Dominating Region

The rising incorporation of IT in the healthcare industry is projected to boost the North America 3D bioprinting market growth. Also, the increased government expenditure on healthcare with regard to drug development and vaccine trials has increased the demand for 3D bioprinting in the region.

The market is dominated by eminent companies offering superior technology and enabling growth through existing distribution channels. Also, market players are leveraging medical device design and manufacturing to meet R&D needs. Some of the leading firms in the market include Advanced Solutions Life Sciences, Cyfuse Biomedical KK, GeSiM GmbH, etc.

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Inkwood Research specializes in syndicated & customized research reports and consulting services. Market intelligence studies with relevant fact-based research are customized across industry verticals such as technology, automotive, chemicals, materials, healthcare, and energy, with an objective comprehension that acknowledges the business environments. Our geographical analysis comprises North & South America, CEE, CIS, the Middle East, Europe, Asia, and Africa.

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Booming Construction Sector to Tug Portable Air Compressor Market Growth

The portable air compressor market has experienced significant growth in recent years, with the construction sector emerging as a key end-user. Inkwood Research anticipates the global portable air compressor market to surge with a 4.37% CAGR during the forecast period 2023-2032. As the global construction industry expands, the demand for portable air compressors is expected to surge, making it an ideal sector for companies to focus on. This blog will explore the factors increasing the demand for portable air compressors in construction.

I. Portable Air Compressors’ Usage in Construction

The widespread usage of portable air compressors in the construction sector can be attributed to the need for a versatile, reliable, and clean power source that can be easily and safely stored. Additionally, compressed air is cost-effective and simple to maintain, making it an attractive alternative to other power sources.

According to the International Energy Agency (IEA), the construction sector accounts for approximately 36% of global energy consumption and contributes to around 39% of energy-related carbon dioxide emissions. With the increasing emphasis on sustainable construction practices, energy-efficient portable air compressors can reduce the construction industry’s environmental impact (source: IEA).

II. Government Initiatives Favorable to Construction

Governments worldwide focus on infrastructure development, which drives the construction industry and increases the demand for portable air compressors. For Instance, the United States government’s American Jobs Plan, a $2 trillion infrastructure proposal aimed at modernizing transportation infrastructure, creating jobs, and promoting sustainable practices (source: White House).

Further, countries like China and India have announced significant investments in infrastructure development, further fueling the growth of the construction industry. Such initiatives are expected to bolster the construction sector, increasing the demand for portable air compressors.

III. Factors Considered When Choosing a Portable Air Compressor for Construction

When selecting an air compressor for construction sites, the following factors are focused upon:

Size and Portability: The air compressor should be appropriately sized and easily portable to meet the project’s specific needs and ensure smooth operation.

Air Pressure and Output Capacity: Depending on the pneumatic tools and applications, the air compressor should provide sufficient air pressure and output capacity to maintain optimal performance.

Noise Level: As noise regulations become more stringent, choosing a quiet air compressor can help construction companies adhere to these regulations and minimize the impact on surrounding communities.

Energy Efficiency: With increasing emphasis on sustainable construction practices, selecting an energy-efficient air compressor can help reduce the environmental impact and lower operating costs.

IV. Applications and Advantages of Portable Air Compressors in Construction

Portable air compressors are utilized for various applications on construction sites, including:

Powering Pneumatic Tools: Portable air compressors provide the necessary power for operating pneumatic tools such as jackhammers, nail guns, and sanders, ensuring efficient and reliable performance.

Inflation and Spraying: Air compressors supply air for inflating tires, spraying paint, and other tasks that require consistent air pressure.

Cleaning and Debris Removal: Compressed air can be used to clean equipment, remove debris, and purge water lines, ensuring a safe and tidy work environment.

Harnessing the Potential of the Construction Industry

By understanding the unique requirements of the construction sector and capitalizing on the rising demand for portable air compressors, companies can experience substantial growth in the global portable air compressors market. Government initiatives and infrastructure development investments underscore the construction industry’s potential, offering lucrative opportunities for companies. Portable air compressors will continue to play an essential role in the construction industry, contributing to increased productivity, efficiency, and sustainability. Thus, the growth of the construction sector presents a lucrative opportunity for companies in the global portable air compressor market.

Frequently Asked Questions (FAQs)

What are the leading market trends in the global portable air compressor market?

A: Rising awareness about renewable energy and sustainable living trends are some of the leading market trends in the global portable air compressor market.

What are some major market restraints in the global portable air compressor market?

A: Regulations for using portable air compressors and unstable raw material prices are some major market restraints in the global portable air compressor market.

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Technological Advancements boost Global Clear Aligners Market Growth Opportunities

The global clear aligners market growth is driven by the rising burden of dental conditions like malocclusions. It is the third most prevalent disease worldwide after dental caries and periodontal disease. The severity of the disease varies across the region.

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Rapid Technological Advancements drive Market Growth

There is an increasing prevalence of oral diseases and disorders globally. Accordingly, there is a growing need for advancements in orthodontics. Similarly, 3D technology and digital computer imaging are increasingly used in orthodontic practices for creating an accurate fit. The latest advancements aiding in the delivery of more effective, efficient, predictable, and customized orthodontic treatments include clear aligners, 3D impression scanners, incognito lingual braces, etc.

As per the Pennsylvania Dental Association, around 4 million in the US wear brace. 25% of these are adults. Also, according to the American Journal of Orthodontics and Dentofacial Orthopedics, dental treatments are inclined to digital workflow with systems like CAD/CAM systems, 3D printers, intraoral scanners, and digital tooth set-ups. Such factors facilitate growth opportunities for the global clear aligners market.

Polyurethane Plastic: Prominent Type

Polyurethane is an adaptable elastomer plastic. It is used in varying proportions in clear aligner manufacturing. It possesses properties like tear resistance, strong bonding with compounding materials, resistance to wear, flexibility, and hardness. Also, polyurethane aligners help tolerate hot food consumption. This is because they are thermally stable to a certain limit.

North America: Prominent Region

The key growth drivers of the North America clear aligners market include high consumer awareness about clear aligners’ efficiency, precise diagnosis, and technological advancements rendering minimal pain. Additionally, the rising dental care services and the growing number of dental clinics & practitioners are set to contribute to market growth. Moreover, the presence of a well-established healthcare infrastructure and the increasing aesthetic consciousness offer growth opportunities.

Some of the eminent players in the global clear aligners market include Dentsply Sirona Inc, Envista, Holdings Corporation, Polyurethane Plastic, Align Technology Inc, etc.

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Vehicle Tracking System Market: Benefits, Differences & Demand Analysis

A vehicle tracking system entails a software solution utilized by transportation companies to monitor the location of trailers, trucks, as well as other vehicles. The software is connected to automobiles via GPS, providing users with real-time insights into the vehicles’ geographic positions.

Often referred to as fleet management systems, vehicle tracking systems also support vehicle maintenance, in addition to managing fuel consumption and assessing driving behavior. These factors are essential in fueling their demand and adoption across various industry verticals, thus providing the market with lucrative expansion opportunities. According to Inkwood Research, the global vehicle tracking system market is anticipated to grow with a CAGR of 15.66% over the forecasting period of 2022 to 2030.

Top Advantages of Vehicle Tracking Systems: An Overview

From improved employee and fleet safety to higher cost savings, vehicle tracking systems bring about multiple advantages. For instance, when equipped with AI-enabled features, fleet managers can acquire better insights about distracted driving, red-light violations, and tailgating.

Aligning with this, here are the top advantages of vehicle tracking systems:

Improved Connectivity– Globally, commercial fleet operations are on the rise. Moreover, with an increase in transportation & logistics activities, road transport is emerging as one of the most convenient ways of ensuring products’ availability, even in remote regions. In such a scenario, GPS/satellite, set to be the fastest-growing technology, provides tracking information pertaining to automobiles even in remote areas that lack cell phone coverage.

Lower Operational Costs– Since vehicle tracking systems facilitate vehicle protection and reduce idle time, enterprises can implement improved measures to enhance security, thereby reducing operational costs. Fleet operators can also monitor vehicle usage via vehicle tracking systems, in addition to optimizing vehicle utilization.

Vehicle and Driver Safety– The integration of vehicle tracking systems in automobiles has enabled manufacturers to provide add-on features that increase vehicle safety, especially in the case of thefts or similar losses. In addition, numerous companies are launching products and devices focused on automobile and driver security, as well. For example, the 3G Guardian GPS Tracker by Trackimo is a compact and portable device that can be utilized for tracking shipments, people, and luggage, in order to ensure their safety.

Improved Customer Service– Vehicle tracking systems offer features that improve the accountability associated with vehicle usage. This advantage also enables fleet owners to generate accurate bills, thereby facilitating improved customer service. The majority of transportation businesses are in pursuit of optimal vehicle tracking technology to boost their offerings and provide unmatched customer satisfaction, as well. Likewise, in North America, the demand for vehicle tracking systems is observing substantial growth, primarily due to the rising need for better customer services and solutions in the automotive sector.

Passive vs. Active Vehicle Tracking Systems: What’s the Difference?

Generally classified into active and passive, vehicle tracking systems predominantly enable users to track vehicles in real-time. While passive devices store GPS location, speed, and even trigger events like door open/closed and key on/off, active devices collect similar information and transmit it in real time via satellite or cellular networks to a data center or computer. Although active tracking devices are usually more complicated due to their numerous operations, they offer quicker access to information, subsequently leading to increased earnings for the enterprise.

Inkwood Research’s projections reveal that the active segment, under the type category, is set to capture the highest market share and progress with the fastest CAGR during the forecast period. The segment’s notable growth is accredited to the following factors:

Real-time updates

Compatibility with all types of computer systems

Increased reliability

Utilized for diverse purposes, such as finding a stolen vehicle

On the other hand, several modern vehicle tracking systems also utilize a combination of active and passive tracking capabilities. As a result, when a cellular network is available, the device will automatically connect and transmit the information to a server.

Future Outlook: Transportation Requirements Influence Vehicle Tracking System Demands

Transportation activities by enterprises as well as the general public for private and personal use are rising globally. Since business activities fuel the demand for fleet operations, common passenger requirements further lead to increased cab fleet services, in addition to other modes of transportation. This factor plays a vital role in propelling the demand for vehicle tracking systems, primarily owing to the substantial rise in automobile applications.

Accordingly, the substantial rise in demand leads to mismanagement of vehicular operations, thus coercing fleet managers to run higher volumes of transportation activities. In this regard, tracking solutions could prove beneficial and subsequently promote the growth of the global vehicle system market during the forecast period.

FAQs:

Which is the largest end use in the global vehicle tracking system market?

The transportation & logistics segment, under the end use category, is set to grow with the highest CAGR of 16.83% during the forecast period.

What are the major software analyzed in the report?

Performance measurement, vehicle diagnostics, fleet analytics & reporting, driver behavior monitoring, and other software are analyzed in the report.

Disaster Recovery as a Service Market: Why is DRaaS Integral to Businesses?

Disaster recovery is an important process, helping organizations recover data and survive in case of disasters, including cyberattacks, accidental data loss, and natural disasters. The IT disaster recovery plan enables an organization to establish data protection strategies, determine the optimal way to recover operations, and prioritize its assets and risks. As per Inkwood Research, the surging data breaches propels the global Disaster Recovery as a Service market growth at 24.62% CAGR during 2022-2030.

Disaster Recovery as a Service (DRaaS) is disaster recovery hosted by a third party, entailing the hosting and replication of virtual or physical servers by the provider, offering failover during power outages or in the event of a natural disaster. The basic premise of DRaaS involves reducing the impact, especially during the complete shutdown of computing resources or organizations’ physical facilities.

DRaaS: How does it work?

DRaaS uses a replication process to duplicate the data and send it to the cloud. Then, it uses cloud-based resources to produce a complete infrastructure wherein the work can be continued. It replaces traditional backup software and hardware. Whereas in the event of a disaster, like a server malfunction, the user access and full system operations are sent to the virtual environment until the primary infrastructure is back up and running.

Organizations may purchase DRaaS through a pay-per-use mode or traditional subscription model that enables them to pay only during the event of a disaster. Additionally, DRaaS plays a key role during times when organizations face a site-wide, storage, and server disaster by retrieving the most critical applications in the cloud. Besides, it can offer a secondary infrastructure during IT disruption, facilitating a backup working environment while the current one is repaired.

Why is DRaaS Integral to Businesses?

Several businesses fail to deliver or sustain themselves during an IT disaster when a simple solution like online backup could have saved them. Also, vulnerability to IT disasters is an inevitable reality. As a result, speedy recovery due to a well-crafted IT disaster recovery plan has become an ever-increasing need among businesses, given the severe consequences.

For instance, as per the National Archives and Records Administration, around 93% of companies that experience data loss and downtime for 10 days or more will file for bankruptcy within 12 months.

Therefore, IT disaster recovery plans like DRaaS are at the top of the businesses’ priority list. The foremost benefit of DRaaS is business continuity despite the circumstances.

Here are a few more reasons why:

Cost-Efficiency

Among the multiple components of a disaster recovery plan, the most important elements include detective measures for quick identification of unwanted events, preventive measures that minimize the risk of man-made disasters, and corrective measures that restore lost data and facilitate businesses to resume after a disaster. The accomplishment of these goals needs innovative solutions that guarantee business continuity and prioritize cybersecurity, IT systems maintenance, and analysis of potential threats.

Moreover, unplanned attempts to recover lost data can incur high expenses. Downtime itself is expensive. For instance, as per Datto, a downtime incident can cost from $10,000 per hour for small businesses to over $5 million per hour for enterprises. Besides, a quick recovery is more expensive.

With DRaaS, businesses can rapidly recover without incurring major costs of redundant and additional hardware. Moreover, flexible pay modes and varied options to meet RTO and RPO objectives allow businesses to meet their requirements.

Furthermore, DRaaS allows the utilization of cloud computing power. Besides, it helps minimize infrastructure costs, thus eliminating the need to buy expensive servers for backup storage.

Seamless Scalability

DRaaS has no loose ends to chase and is considered an effective insurance policy protecting a company’s vital systems from business disruptions. This is because it provides one unified solution to recover from all types of disasters, from ransomware and malware to wildfires and hurricanes. Also, data is stored in multiple places, leaving no room for a single point of failure. In addition, it can shrink or grow on demand since it is on a virtual platform.

Further, businesses can customize their recovery scope based on their resources, RTO & RPO objectives and needs, and choose the manner of protection for their most critical applications. The options range from hot site recovery and continuous replication to warm site recovery and time-based backup.

According to our evaluations, real time replication services will be the largest revenue-generating service in the global DRaaS market by 2030, with a 33.47% share.

Accessibility

DRaaS is a cloud-based solution, enabling access to the system from any location with an internet connection. Even in pressing situations (most recently, the pandemic lockdowns), remote servers can be managed from any location. Also, the control of IT infrastructure is not lost, with IT engineers able to manage applications and data storage, recover lost data, run back-ups, and run and analyze reports.

As per our estimates, private cloud will be the fastest-growing deployment type by 2030, with a CAGR of 27.23%.

Data Security and Safety

With DRaaS, data is securely stored and backed up in a remote data center and thereby protected against unauthorized access and unexpected loss. DRaaS providers use state-of-the-art infrastructure with absolute redundancy and no single point of failure. In addition, cloud-based service providers deploy sophisticated encryption, timely & regular security patches to protect data centers, and reliable security protocols.

Disaster Recovery as a Service Market Scope

Business firms realize the economic benefits of minimizing their system’s downtime. However, swift recovery becomes difficult in the traditional method of data storage since it is stored on tapes and disks. Any interruption in the IT infrastructure due to human intervention or power failure impacts the whole IT infrastructure taking more time to recover data.

With DRaaS, organizations can recover and access their data more swiftly. Also, cloud-based disaster recovery services are more manageable and flexible than traditional disaster recovery services. Moreover, DRaaS offers automated and reliable recovery operations. Besides, within minutes, businesses can recover from an immediate system failover to a secondary infrastructure. As a result, the surging need for faster recovery and flexibility offers lucrative growth opportunities for the global Disaster Recovery as a Service market.

FAQs:

Which is the leading country in the global Disaster Recovery as a Service Market?

The United States is the leading country in the global Disaster Recovery as a Service Market.

Which are the key players in the global Disaster Recovery as a Service Market?

Zerto Ltd, Microsoft Corporation, VMware Inc, Amazon Web Services Inc, etc., are among the key players in the global Disaster Recovery as a Service Market.

Government Policies to Flank Automotive Emission Test Equipment Market Growth

As the global community becomes increasingly concerned about the environmental impacts of automotive emissions, governments worldwide have implemented various policies to curb pollutants from vehicles. These policies encourage the development and use of cleaner, more energy-efficient vehicles and aim to improve air quality and reduce the harmful effects of greenhouse gases. Also, these policies have significantly impacted the global demand for futuristic emission test equipment. According to Inkwood Research, the global automotive emission test equipment market is expected to surge with a 5.23% CAGR during the forecast period 2023-2032.

Governments worldwide have recognized the need for policies to address automotive emissions. Key areas of focus include:

Emission Standards: Governments have established stringent emission standards, pushing automakers to develop cleaner technologies and reduce vehicle emissions.

Incentives for Electric Vehicles (EVs): Many governments are offering financial incentives, such as tax credits and subsidies, to encourage the adoption of electric vehicles and reduce dependence on fossil fuels.

Infrastructure Development: Governments are investing in infrastructure to support the growth of electric vehicles, such as charging stations and public transportation networks.

Important Government Policies Curbing Pollutants from Automotive Emissions

1. European Union Emission Standards

The European Union (EU) has established a comprehensive set of emission standards for vehicles to ensure the reduction of harmful pollutants such as hydrocarbons (HC), nitrogen oxides (NOx), particulate matter (PM), and carbon monoxide (CO). These standards, progressively tightened over time, apply to passenger and commercial vehicles. The latest standard, Euro 6, has significantly reduced the permissible emission levels compared to previous iterations.

Key features of the EU Emission Standards:

This standard applies to new vehicles sold within the EU and European Economic Area (EEA)

Regular updates to set more stringent emission limits

Differentiates between diesel and gasoline vehicles for certain pollutants due to their different combustion properties

2. Corporate Average Fuel Economy (CAFE) Standards in the United States

In the United States, the Environmental Protection Agency (EPA) and the National Highway Traffic Safety Administration (NHTSA) jointly regulate fuel economy standards for new passenger cars and light trucks under the Corporate Average Fuel Economy (CAFE) program. This program aims to reduce fuel consumption and greenhouse gas emissions from vehicles. The CAFE standards have successfully encouraged the development of more fuel-efficient vehicles.

Key aspects of the CAFE Standards:

Sets mandatory minimum fuel efficiency targets for vehicle manufacturers

Gradually increasing fuel economy requirements over time

Manufacturers receive credits for exceeding standards and can trade or bank them for future use

3. India’s Bharat Stage Emission Standards

India has implemented its emission standards, Bharat Stage (BS), to address the increasing air pollution caused by automotive emissions. Like the EU Emission Standards, the Bharat Stage standards have evolved, with the latest BS-VI norms coming into effect in April 2020. These stringent standards have led to the rapid adoption of cleaner technologies in the automotive sector, significantly reducing the emission of harmful pollutants.

Key highlights of the Bharat Stage Emission Standards:

This policy applies to new vehicles sold in India, including two-wheelers, three-wheelers, passenger cars, and commercial vehicles

BS-VI norms are comparable to Euro 6 standards, resulting in a significant reduction of NOx, HC, and PM emissions

Encourages the adoption of cleaner fuel and advanced emission control technologies

4. China’s New Energy Vehicle (NEV) Policy

China’s New Energy Vehicle (NEV) mandate, introduced by the Ministry of Industry and Information Technology (MIIT) in 2017, encourages the adoption of NEVs by setting credit targets for manufacturers. Inspired by California’s Zero Emission Vehicle (ZEV) mandate, the policy focused on passenger cars and aimed for a 10% NEV credit target in 2019 and 12% in 2020. Credit allocation is based on factors like electric range, energy efficiency, and fuel cell system power.

Key aspects of China’s NEV Policy:

China promotes NEV adoption by offering financial incentives, contributing to the country’s position as the largest electric vehicle market globally.

Automakers in China must produce a specific percentage of NEVs, earning credits based on production and sales. Excess credits can be sold to other manufacturers.

China is dedicated to increasing the number of public charging stations, enhancing convenience for electric vehicle users.

Impact of Government Policies on the Global Automotive Emission Test Equipment Market

It is evident that as governments continue to introduce and enforce stringent policies, the global automotive emission test equipment market will experience significant growth. To remain competitive and compliant with these evolving regulations, automotive manufacturers and testing equipment providers should continue to invest in research and development, paving the way for a cleaner and more sustainable future for the automobile industry.

Furthermore, the demand for advanced emission test equipment has surged, driving innovation and growth in the global automotive emission test equipment market. Initiatives such as the Euro 6 and the Bharat Stage Emission Standards have led to the development of cleaner and more efficient engines, directly influencing the emission test equipment industry. Furthermore, incentive programs promoting electric and hybrid vehicles, such as the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) in India, have bolstered the need for specialized testing equipment.

By Sukanya Mukherjee

FAQs:

What are some of the major findings in the global automotive emission test equipment market?

Government regulation is a key growth enabler, vehicular emissions are a major contributor to greenhouse gases, and passenger car testing constitutes a large market share are some of the major findings in the global automotive emission test equipment market.

What are the key growth restraints of the global automotive emission test equipment market?

Non-compliance to vehicle emission standards and low emissions from electric vehicles are the key growth restraints of the global automotive emission test equipment market.

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Automotive Electric Power Steering Market: Futuristic Technologies Overview

Power steering is especially important for cars with engines in the front and a lot of weight on the front wheels. Sensors detect torque in the steering column while the computer module controls the electric motor, making EPS systems significantly reliable and convenient. Hence, they make an attractive proposition for the automotive industry, enabling growth for the EPS market. As per Inkwood Research, the global automotive electric power steering market is set to propel with a 4.26% CAGR by 2030 and is expected to generate a revenue of $57.18 billion during the forecast period, 2022-2030.

Electric power steering (EPS) is a system that helps steer the wheels with an additional power source other than the driver’s manual force with which he turns the steering. This feature adds to the driving comfort as less effort is needed to turn the steering. Additionally, EPS systems eliminate drive belts, pumps, and hoses connected to the engine with variable power intensity. The configuration of EPS systems allows power assist systems to be incorporated into the steering column or the rack and pinion steering gear.

Further, conventional hydraulic steering systems require frequent changing of hydraulic fuel. Other components such as the steering pump, hydraulic fluid, rotary valve, steering fluid reservoir, and hydraulic chamber must be monitored. Therefore, problems may arise in a hydraulic system because of multiple components and the complexity of the design.

Hydraulic v/s Electric: The New-Age Power Steering Solution

Electric power steering (EPS) provides an extra steering force to the passenger as well as commercial cars with an electrical motor. It is the latest steering system without conventional hydraulic power-assisted parts. Moreover, EPS systems offer more assistance compared to traditional electric motor hydraulic power steering coupled to the steering gear or column. Hydraulic power steering is a primitive technology used for decades and has improved significantly with time. Earlier, it did not have any difference in steering response with the car’s speed, but the new age of hydraulic power steering is speed-sensitive and works better than the older hydraulic power steering.

However, electric power steering is a comparatively new technology and comes under the advanced driver assistance system (ADAS) with a less complicated build & mechanism, space-saving, and durability. Electric power steering use sensors to sense the car speed and will take care of the different steering response required for different speeds. Electric power steering consumes power from a battery that is also charged by the engine, but it consumes less power than hydraulic power steering. Therefore, a car with an EPS system provides more mileage than one with hydraulic power steering.

Sensors detect steering column movements consecutively with a processor module that applies assistive power with an electric motor. This mechanism allows various assistance depending on driving conditions and requirements. With electronic systems becoming increasingly common in cars, they will use EPS as the future power steering system. Unlike its counterpart, EPS is consistently active during the steering process. It also eliminates maintenance on steering hydraulics and cuts fuel consumption by approximately 0.4 liters every 100 km.

How do EPS systems and sensors work in different vehicle types?

An electric power steering (EPS) sensor is a futuristic technology for highly automated driving. These sensors are primarily used in EPS systems to measure the torque on the steering wheels. The electronic control unit calculates the amount of steering assistance required by the electric motor based on the data collected by these sensors. The steering wheel angle and the amount of effort applied to the turn are the two key driver inputs that these steering sensors monitor.

After analyzing these input signals, motor electronics generate a responsive output algorithmically, resulting in intuitively responsive assisted steering. The assistance provided by the sensors to the vehicle enables the driver to have a better judgment of constraints and directions, thereby reducing accidents and collisions.

Passenger Cars

The application of electric power steering in passenger cars is surging, owing to its numerous advantages. Along with reducing the vehicle weight and rising production and sales of passenger cars, automobile manufacturers are proactively equipping their vehicles with EPS. This step aids in increasing fuel efficiency while further increasing a focus on safety and comfort. Thereby, the automobile manufacturers are now focusing on incorporating electric power steering technology in the entry-level segment cars, also, in turn, propelling the demand for electric power steering in passenger cars.

Commercial Vehicles

The adoption of electric power steering in commercial vehicles is still nascent as they majorly use hydraulic steering systems. However, with the increased restrictions from environmental regulations, the scope for electrically power steering is expected to become a standard feature in commercial vehicles. With the growing logistics sector and construction, vehicles’ demand for electric power steering has increased. Moreover, with the continually increasing restrictions and regulations on diesel-powered commercial trucks, truck manufacturers, such as Volvo, Mercedes, and Daimler, have started manufacturing and testing electric trucks, which is expected to drive the demand for electric power steering systems in commercial vehicles.

EPS Systems: Future Outlook

An industry study estimated that electric power steering (EPS) saves 4% more fuel than hydraulic steering. Also, it uses 1/10th power as that of hydraulic steering. This number is huge when emissions from millions of vehicles are calculated. In addition, with the advent of government regulations, global automakers have been forced to comply with the new environmental norms to develop cleaner and fuel-efficient vehicles, driving the global automotive electric power steering market.

FAQs:

Which country dominates in the Asia-Pacific automotive electric power steering market in terms of revenue?

India dominates the Asia-Pacific automotive electric power steering market in terms of revenue.

Which is the leading component in the global automotive electric power steering market?

Steering Motor is the leading component in the global automotive electric power steering market.

#AutomotiveElectricPowerSteeringMarket #PowerSteeringMarket #Automotive #inkwood #Marketresearch #inkwoodresearch #researchmarket

Rising Cases of Obesity Linked to Global Cellulite Treatment Market Growth

As per Inkwood Research, the Global Cellulite Treatment Market is estimated to develop with a CAGR of 9.44% in terms of revenue during the forecasting years 2023-2032.

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Cellulite primarily appears on the thighs, buttocks, and stomach. The condition may be caused due to factors such as weight gain, accumulated toxins, genetics, poor diet, inactivity, and pregnancy.

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Increasing Cases of Obesity to Facilitate Global Cellulite Treatment Market Growth

Obesity is one of the major health concerns globally. The disease leads to cellulite by increasing the volume of fat trapped within irregular-sized fat lobules. As per World Health Organization (WHO), around 39 million children below the age of 5 were overweight or obese in the year 2020. People with obesity are highly susceptible to several health issues, such as stroke, diabetes, high blood pressure, cardiac disorders, and other ailments. These health conditions, in turn, encourage individuals to undergo associated treatments, thus proliferating market growth.

Soft Cellulite Dominated the Type Category in 2022

Soft cellulite refers to skin sagginess around the arms, thighs, buttocks, and hips. One of the best approaches to reducing the appearance of soft cellulite is to adopt a healthy lifestyle. Moreover, treatments like radiofrequency are also effective in areas with a higher accumulation of fat since they stimulate the production of elastin and collagen.

Asia-Pacific: Fastest-Growing Region by 2032

The presence of high-quality healthcare facilities, coupled with skilled professionals and lower costs of treatments and premium medical services, are anticipated to propel the market growth in the Asia-Pacific.

The industry rivalry in the global cellulite treatment market is high, with key players entering into strategic partnerships as well as tie-ups with established firms in order to overcome the competition. Some of the leading companies operating in the market are Sientra Inc, Endo International PLC, Candela Corporation, etc.

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Cardiovascular Ultrasound Market: Latest Tech Advancements

Cardiovascular ultrasound, also referred to as echocardiography, is the vastly used imaging modality for diagnosing cardiovascular diseases. It allows both diagnosis and development of treatment modalities. Ultrasound imaging’s advantages include ionizing-radiation-free imaging, cost-effectiveness, imaging at the patient bedside, and real-time imaging.

According to Inkwood Research, the rising cardiovascular diseases are one of the important growth drivers of the global cardiovascular ultrasound market, projecting a CAGR of 5.90% during 2022-2030. Cardiovascular diseases (CVDs) are the leading cause of death globally, accounting for around 17.9 million deaths annually, as per WHO. Additionally, WHO states that 4 out of 5 CVD deaths are due to strokes or heart attacks.

The increasing technological advancements in cardiac ultrasound imaging are estimated to aid in the clinical diagnosis of several cardiovascular diseases. These advancements are rapidly changing the cardiac imaging domain.

Cardiovascular Ultrasound: Tech Advancements Over the Years

Cardiovascular ultrasound has rapidly evolved in the past decade from 1D M-mode imaging to 2D plane imaging to 3D reconstructions to 3D images in motion in real time, also known as 4D. In 3D echo imaging, advanced visualization software enables cardiology specialists to regulate images by slicing them on any plane and producing rotatable 3D images.

Further, 4D echo imaging has facilitated several possibilities in echocardiography wherein specialists can continuously update 3D images and use them to make live video viewing. Additionally, 4D platforms can reconstruct large volumes of data into 3D images repeatedly in a matter of milliseconds.

Moreover, 4D cardiac ultrasound imaging helps get color flow in real time, which can help assess the hemodynamic information in a single heart cycle. Besides, 4D offers the ability to provide multi-dimensional imaging. At the same time, there has been slow adoption of advanced technologies like 4D and 3D, given their lifespan, costs, and the need for more data.

However, according to our assessment, 2D held the largest revenue share of 42.05% in 2021 in the global cardiovascular ultrasound market by technology.

Some recent technological developments include:

Tissue Doppler Imaging (TDI)

Tissue Doppler Imaging (TDI) is a new echocardiographic technique that enables Doppler principles to determine the velocity of myocardial motion. Doppler echocardiography depends on the detection of the shift in frequency of ultrasound signals reflected from moving objects. Conventional Doppler techniques measure blood flow velocity by assessing low-amplitude, high-frequency signals from small, fast-moving blood cells. Similarly, the same Doppler principles are used in TDI to quantify the same signals of myocardial tissue motion.

Further, TDI can be administered in color modes and pulsed-wave. The clinical applications of TDI include the assessment of diastolic function and LV systolic function. The conventional echocardiographic assessment of LV diastolic function depends on Doppler patterns of mitral inflow. Moreover, the novel applications of TDI include the estimation of LV Filling Pressures.

As per our analysis, Doppler is the fastest-growing technology in the cardiovascular ultrasound market, set to record a CAGR of 6.65% by 2030.

Strain Imaging

In cardiovascular ultrasound, the term ‘strain’ is used to describe the myocardium’s local lengthening, thickening, and shortening as a measure of regional LV function. Strain imaging uses cardiac ultrasound to determine the function of the heart muscle. Also, it is used to identify subtle changes in heart function. The test evaluates patients who have received radiation to the chest, monitors patients with cardiomyopathy, pericardial disease, and heart failure, and screens patients under cardio-toxic medications as part of cancer treatment.

How are Prominent Vendors leveraging Recent Tech Advancements?

Several major cardiac ultrasound vendors have launched many new products to enhance image quality, speed up workflow, improve valve assessments, optimize procedural guidance and structural heart evaluations, and offer artificial intelligence for automating some functions.

Siemens Healthineers launched the ACUSON Redwood in October 2019. It is a new ultrasound system built on the company’s new platform architecture, featuring advanced applications for greater clinical confidence and AI-powered tools for smart workflows.

Philips Healthcare launched Ultrasound Workspace in March 2022 at the American College of Cardiology’s Annual Scientific Session & Expo (ACC 2022). It is a vendor-neutral echocardiography image analysis and reporting solution accessible remotely through a browser.

In August 2021, Leltek announced that its LU710 series received TFDA clearance.

Future of Cardiovascular Ultrasound: AI Integration

The incorporation of artificial intelligence (AI) in cardiovascular ultrasound has rendered the whole procedure efficient in terms of cost-cutting and avoiding unnecessary testing. Its use in echocardiography is being researched further since AI techniques have the potential to enhance echocardiography’s diagnostic potential. For instance, the FDA authorized the first cardiac ultrasound software using AI, called Caption Guidance, to guide clinicians in capturing diagnostic-quality images of the human heart.

Furthermore, its use is important in areas like cardiac disease diagnosis, functional left ventricle assessment, automatic segmentation of the cardiac activity, and recognizing the standard section. However, at present, AI’s use is minimal in creating images. Nevertheless, it is evaluated to play a significant role since computer processing speeds continue to increase rapidly, with the next generation estimated to do more with the image data. Such tech advancements are projected to set the course for the global cardiovascular ultrasound market growth.

FAQs:

Which is the most lucrative country in the global cardiovascular ultrasound market?

China is the most lucrative country in the global cardiovascular ultrasound market.

Which is the fastest-growing end-user in the global cardiovascular ultrasound market?

Ambulatory care centers are the fastest-growing end-user in the global cardiovascular ultrasound market.

UAV Battery Market: Military & Commercial Applications direct Growth

Unmanned aerial vehicles (UAVs) or automated drones fly for long periods at a controlled speed and height and have a role in many aspects of aviation. They are used in various functions, ranging from food delivery, filming, photography, climate change monitoring, and search operations after natural disasters. With the growing geo-political tension among major countries, UAVs have gained massive demand. This is because drones are used by the military worldwide for surveillance, reconnaissance, and targeted attacks. These devices operate wirelessly, creating a huge requirement for UAV batteries for optimal use. Accordingly, as per our research, the global UAV battery market is estimated to generate a whopping $17.7 billion in revenue, with a 16.32% CAGR during the forecast years, 2022-2030.

UAV Battery: Growing Military Applications

Militaries need UAVs for training in combat situations and ISR (intelligence, surveillance, and reconnaissance). ISR is a crucial component of any military force wherever in the globe because actionable intelligence enables commanders to make timely and efficient decisions. UAVs are also useful for aerial target practice for ground soldiers and aspiring pilots. UAVs are therefore incredibly helpful for defense forces all over the world.

Furthermore, UAVs are altering the homeland security landscape. UAVs provide an eye in the sky to homeland security agencies, enhancing situational awareness. This helps them enforce the law and protect life while saving officers’ time and valuable taxpayers’ money.

Both small and large UAVs are used by homeland security for various purposes, from border surveillance to search and rescue and disaster management operations. Over time, the usage of drones by homeland security is set to increase, thus further raising the demand for the long-life battery system to perform operations efficiently.

Top Countries Utilizing Military and Defense UAVs:

The United States is the main market for military UAVs.

Israel is one of the biggest military UAV exporters.

Top military UAV importers around the globe include Germany, Turkey, France, India, the United Kingdom, and the United States.

The United States and China have sizable numbers of military UAVs in their respective inventories.

Different UAV Types used in the Military

According to Inkwood research, the global UAV battery market by UAV type was valued at $4650.08 million in 2021 and is expected to grow at a 16.32% CAGR between 2022-2030. Due to the popularity of various UAV types like fixed-wing, rotary wing, and fixed-wing VTOL (hybrid), the market is expected to accelerate during the forecast period.

Fixed-Wing UAVs

Fixed-wing UAVs have a rigid wing that generates lift due to the forward motion of the UAV. These UAVs have high endurance, carry heavy payloads, and cater to military and civil applications. Defense forces worldwide use fixed wing UAVs for border patrol to check infiltration by terrorists or unauthorized individuals. Homeland security uses these drones to secure events where people gather in large numbers and to monitor places of interest, such as historical monuments and government buildings.

Rotary Wing UAVs

Rotary wing UAVs consists of rotor blades that revolve around a fixed mast. The rotor blade and the mast together are known as a rotor. Since rotor blades are themselves in motion, a forward motion of the UAV is not required to generate lift. Rotary wing UAVs usually use more than one rotor depending on their application or the payload they carry. Thus, they come in various configurations, such as tri-copters (3 rotors), quad-copters (4 rotors), etc.

Fixed-Wing VTOLs (Hybrid Drones)

Fixed-wing VTOLs (Hybrid Drones) can map terrain owing to their ability to do vertical takeoff and landings (VTOL). These drones combine the fixed-wing aircraft’s efficient cruise flight with multirotors’ practical vertical landing. The fixed-wing VTOL (Hybrid Drone) lands safely without harming the drone’s top-notch cameras or the drone itself. Such UAVs are expected to rise over time due to their design efficiency and easy work.

Other Important Industries: Commercial Applications

Several startups are investing in the commercial sector due to the rising demand for UAVs for various applications. Therefore, the demand for UAV batteries is rapidly surging owing to innovative UAV applications in insurance, media & entertainment, transportation, telecommunication, agriculture, mining, infrastructure, and oil & gas.

Moreover, the UAV battery industry is increasingly projecting growth opportunities, with many prospects for new as well as established competitors. Besides, commercial drones also empower farmers to manage their properties efficiently and gather essential crop data in real-time. Inkwood Research predicts that the global UAV battery market by commercial end-use will surge with a 16.53% CAGR between the forecasted years 2022 and 2030.

Drone delivery is one of the drones’ most well-liked and rapidly expanding uses. This idea is estimated to gain greater traction as technology develops and matures. E-commerce behemoths like Amazon have already made investments in the drone technology known as Amazon Prime Air and will be launching the whole service as soon as the difficulties with viability are handled.

Furthermore, commercial UAVs are revolutionizing old business and industry systems, paving the path for smart operations to enhance production. UAV commercial drones are used for far more than just taking pictures or videos. For instance, the commercial usage of drones in the insurance sector allows businesses to inspect damaged assets quickly and effectively.

All in All

Research and development must continue for technology to emerge. Therefore, steady investments and resources in the UAV technology and its ancillary markets like UAV battery technology are pushing their advancements further.

Top drone producers Plug Power, Intelligent Energy, HES Energy Systems, RRC Power Solutions, etc., have allocated a percentage of their expenditures to research and development. Even though the policy may lag behind innovation, interest in drones’ present and future applications remains high, driving the global UAV battery market.

FAQs:

Which is the leading region in the global UAV battery market?

Asia-Pacific is the leading region in the global UAV battery market.

Which is the leading country in the North America UAV battery market?

The United States is the leading country in the North America UAV battery market.

Synthetic Sapphire Market: Key Industrial Applications

As one of the first gems to be synthesized, synthetic sapphire, or lab-grown sapphire, comprises the exact chemical composition of organic sapphire. Moreover, it is also one of the hardest minerals, following diamond, and is highly durable, as well. According to Inkwood Research, the global synthetic sapphire market is estimated to rise with a CAGR of 6.50% over the forecasted years of 2022 to 2030. The market growth of the region is fuelled by key factors, such as the growing adoption of LED lighting, rising applications in the electronics industry, and technological advancements in the manufacturing process.

Synthetic Sapphire Market – A Detailed Look at Industrial Applications

On account of its excellent properties, sapphire is utilized in several industrial products and applications. For instance, owing to the material’s high scratch resistance, transparency, and hardness, synthetic sapphire is often utilized in ball bearings and wristwatches. Over recent years, the material has also found widespread usage in fingerprint authentication sensors and smartphone lens covers.

Aligning with this, some of the top applications of synthetic sapphire are as follows –

Sapphire Substrates –

Sapphire is characterized by exceptional electrical insulation, good thermal conductivity, transparency, as well as high rigidity properties. As a result, it is a preferred material for substrates and is thus utilized in LED as well as microelectronic circuits and ultra-high-speed integrated circuits.

Sapphire substrates also play a significant role in the production of several other electronic devices, owing to their remarkable electrical properties.

Consumer Electronics –

The expansion of the consumer electronics industry is expected to provide synthetic sapphire manufacturers with lucrative growth opportunities. This is primarily accredited to the material’s growing demand for the production of smartphones, camera lenses, and watches, among other devices.

Moreover, the use of synthetic sapphire as a scratch-resistant material further drives the growth of the consumer electronics segment as a key end-user.

Display –

Sapphire has been used as a covering for cellphone camera lenses, in addition to being tested by manufacturers of electronic tablets for shatter-proof display screens.

Furthermore, sapphire glass is also ideal for display devices subject to significant wear and tear, like smartwatches and fitness trackers.

Optical –

Since sapphire is radiolucent (transparent to X-rays), it is ideal for use in MRI, CT, and various other intraoperative imaging procedures. In addition to resulting in clear imagery, the use of synthetic sapphire in optical applications also enables enhanced diagnostic capability. Furthermore, the material’s thermal conductivity facilitates enhanced cooling, predominantly for laser procedures.

Synthetic sapphire windows are also utilized on a large scale as they are stronger compared to standard glass windows.

Accordingly, as per Inkwood Research’s analysis, the optical segment is projected to dominate the application category during the forecast years.

Synthetic sapphire is also largely used in the medical sector for a varied range of applications. These include endoscope lens covers, scalpels, hematology inspection filters, as well as medical plunger pump parts. Furthermore, the adoption of synthetic sapphire in emerging regions of the Asia-Pacific, such as Thailand, India, and China, is set to rise rapidly over the upcoming years, predominantly on account of the increase in new construction and infrastructure activities.

Top Trend | Government Guidelines Encourage Synthetic Gems Production

The manufacturing process of synthetic sapphire is less polluting and environmentally friendly compared to the production of various alternative materials. Moreover, the material comprises minimal contamination, with negligible defects and grain boundaries, thus providing synthetic sapphire with a wide range of desirable properties. Accordingly, governments of developing economies, such as India, are considering the propositions of the jewelry industry with a view to promoting manufacturing and exports. These predominantly include facilitating shipments through e-commerce and establishing common facility centers.

For instance, as per the Gem & Jewellery Export Promotion Council (GJEPC), India’s government separated the Indian Trade Clarification (ITC) code for rough synthetic gemstones into non-diamonds and diamonds. The initiative is expected to enable organizations to monitor the exact quantities of lab-grown diamonds brought into the jewelry industry, thereby encouraging their wide-scale manufacture. As a result, these factors are expected to contribute to the overall growth of the global synthetic sapphire market during the forecast years.

By Shruti Vanjare

FAQs:

What are some of the key companies operating in the global synthetic sapphire market?

Juropol Sp ZOO, Iljin Display Co Ltd, Namiki Precision Jewel Co Ltd, Crystalwise Technology Inc, and others are among the key companies operating in the global synthetic sapphire market.

What are the top factors driving the Asia-Pacific synthetic sapphire market’s dynamic growth? The growth of the region’s medical as well as consumer electronics industry, rapid construction activities and infrastructural development, as well as the rising demand for LED products, are set to drive the dynamic growth of the Asia-Pacific synthetic sapphire market.

Increase in Health Consciousness Crucial for Global Meat Substitute Market Growth

As per Inkwood Research, the Global Meat Substitute Market is projected to register a CAGR of 14.00% in terms of revenue during the forecasting period of 2023-2032.

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Meat substitutes entail food products made from vegan or vegetarian ingredients. They typically mimic the flavor, mouthfeel, appearance, as well as chemical properties of specific meat types.

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Rise in Health Consciousness to Propel Global Market Growth

Meat substitutes are becoming increasingly prevalent on account of the numerous health benefits associated with them. Accordingly, the awareness surrounding the health benefits of soy-based foods among individuals is on the rise, primarily owing to the low calories they constitute.

Similarly, other meat alternatives, such as wheat, are also suitable for adequate nutrient intake. This is mainly accredited to the fact that wheat protein is advantageous for muscle growth due to its rich protein content, in addition to low fat as well as calories. Therefore, the rise in health consciousness is expected to augment the global meat substitute market growth during the forecast period.

TVP-Based: Dominating Product Type by 2032

TVP-based products have a wide range of uses, and are available in the global meat substitute market in various forms. In addition to being a healthy alternative since they are cholesterol-free and high in protein, TVP-based products can also be applied to several food processes and procedures.

Europe is a Prominent Region in the Global Meat Substitute Market

The meat substitute market in Europe is set to register significant growth due to the rising awareness about the importance of improving health conditions, coupled with the need to inculcate sustainable habits. Furthermore, the United Kingdom is expected to register the highest growth in Europe on account of the surge in demand for protein-rich and high-fiber meals.

The global market is moderately competitive due to the reduced number of small as well as medium-scale regional and international players. Some of the leading companies operating in the global meat substitute market are ADM, Kerry Group, DuPont, etc.

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Global Biogas Market: Top 3 Applications | Forecast 2022-2030

Biogas is a gas mixture produced by breaking down organic matter without oxygen. Processes such as anaerobic digestion and landfill are used to generate biogas. Primarily containing methane and carbon dioxide, biogas has several advantages over fossil fuels in applications like CHP plants, commercial use, domestic stoves, and transportation. Inkwood Research predicts that the global biogas market is expected to surge with a 4.42% CAGR during the forecast years 2022-2030.

Factors such as supportive government policies and regulations and the need to reduce emissions will likely aid the overall market growth over the forecast period. Moreover, several countries have recently witnessed increasing investments in the biogas industry. For instance, in May 2022, the Government of Canada and the Government of Quebec announced joint funding of CAD 100 million for the expansion of the bio mechanization facilities owned by the Société d’économie mixte de l’est de la Couronne sud (SEMECS) in Montérégie. The expansion includes installing a new organic material receiving area with a pit, adding three new digesters, installing an Énergir gas transfer platform and expanding the capacity to 120,000 tons per year.

Top Applications of Biogas across Market Verticals

Our analysis suggests that the global biogas market can be divided into three major applications – biofuel production, electricity generation, and heat generation.

Biofuel Production

In the past few decades, the world has been highly dependent on fossil fuels, such as coal and crude oil, which were the major causes of greenhouse gas emissions. In recent years, many countries have planned to start phasing out coal energy to cleaner energy sources, such as natural gas and renewables. In several countries, biogas has increasingly been upgraded to compressed biomethane (CBG), a renewable version of compressed natural gas (CNG), for use in cars and buses. As a result, global market players are investing significantly to establish biofuel manufacturing plants globally.

For instance, in September 2021, Shell PLC announced an investment to build an 820,000 tons per year biofuels facility at the Shell Energy and Chemicals Park Rotterdam, the Netherlands. Once built, the facility will be among Europe’s biggest in producing sustainable aviation fuel (SAF) and renewable diesel from waste. The Rotterdam biofuels facility is expected to start production in 2024.

Electricity Generation

There is a rapid surge in electricity generation globally owing to accelerating energy demands from urbanization, industrialization, and expanding population levels. Burning wood and wastes generate steam in biomass power plants that may be used to generate heat in buildings & businesses or to drive a turbine to produce electricity. In 2021, global electricity generation exceeded 2752.52 Terawatt-hours (TWh), rising from 21570.7 TWh in the year 2010.

Furthermore, as per World Biogas Association (WBA), around 10-13% of the global greenhouse gases (GHG) can be reduced with the help of biogas produced from sewage, industrial production wastes, food waste, and feedstocks from agriculture. The optimization of fuels and reduction in GHG is predicted to significantly impact electricity generation in South America, Asia-Pacific, Africa, and other developing regions, which are majorly investing in several strategies to boost the role of biogas in electricity generation.

Heat Generation

One of the simplest use of biogas is for thermal (heat) energy. In areas where fuels are scarce, biogas systems can provide heat energy for basic cooking and water heating functionalities. Gaslighting systems can also use biogas for illumination. The biogas uses a heating plant and combined heat and power (CHP) to generate heat.

Furthermore, various countries are investing in biogas-based projects due to energy security concerns and lowering the dependency on fossil fuels. For instance, in May 2022, with a total investment of around $16.8 million, Kelag Energie & Warme announced its plans to build a biomass power plant to supply heat in a municipality in some parts of Vorarlberg. Hence, with the increasing demand for heat generation through clean energy sources coupled with supportive government policies and investment, the biogas market for heat generation applications is expected to witness significant growth during the forecast years.

Applicability of Biogas: Future Prospects

When biogas is conditioned or upgraded to pipeline-quality natural gas, it becomes renewable natural gas (RNG). The future uses of renewable natural gas are expected to depend on the development of renewable resource markets. As a result of high oil prices and limited renewable fuel options, biogas in the transportation industry will likely be a key demand driver. Moreover, biogas is a low-cost option for zero-carbon transportation fuel. Therefore, several industries will potentially consume the majority of renewable biogas produced. Ultimately, technological advances are expected to determine the prospects of renewable natural gas, but its success also depends on a level playing field in energy policy, determining the growth of the global biogas market.

By Sukanya Mukherjee

FAQs:

Which regions are assessed in the global biogas market?

Europe, North America, Asia-Pacific, and Rest of World are assessed in the global biogas market.

Which key segments are analyzed in the global biogas market report?

Source type and application segments are analyzed in the global biogas market report.

Global Business Jets Market to grow with a 3.9% CAGR by 2032

Inkwood Research predicts the Global Business Jets Market to rise with a 3.9% CAGR during the assessment years 2023 and 2032.

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The market for the business jet has been witnessing growth in recent years. Various manufacturers are involved in manufacturing technologically-advanced business jets with a focus on fuel efficiency and enhanced passenger experience. Several manufacturers are vying to become more competitive by launching newer models and attracting new customers. Also, in recent years, several manufacturers have launched new business jet models that offer extra comfort to passengers. Focus on such improvements is expected to provide growth opportunities for the players during the forecast period.

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Increasing Number of High Net-Worth Individuals boosts the Global Market Growth

The past few years have seen a major rise in High-Net-Worth Individuals (HNWIs) and Ultra-High Net Worth Individuals (UHNWIs) across the globe. This surge in wealth has caused a spike in demand for private travel, prompting the acquisition of private jets with well-designed cabin interiors.

Additionally, the tourism sector’s growth in Latin America and Southeast Asia has led many charter operators to introduce new regional routes and extend their presence. Consequently, there has been a considerable rise in demand for fuel-efficient business jets that are lightweight and eco-friendly.

Midsize Jets lead Market by Class

For wealthy travelers with frequent requirements for long international trips, purchasing a jet provides an efficient and cost-effective solution. These jets come in mid-size varieties, super mid-size cabins, and smaller light jets. Each offers an average range of around 2,200 nautical miles or five hours of nonstop travel with varying headroom, luggage space, and standing capability, depending on size. The luxurious cabins provide maximum comfort to up to 10 passengers.

North America – Dominating Region

The United States market has seen notable investments into business jet development and a continued growth rate within the HNWI population over recent years. As such, the business jet market is projected to experience a steady high growth rate during the assessment period.

New entrants may also enter the market with innovative concepts and models; for example, trials are being carried out to create airports solely for private aircraft to sidestep busy runways & crowded terminals, thus further increasing competition throughout the forecast period.

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Integration of 5G Technology Contributes to Global Military Communication Market Growth

As per Inkwood Research, the Global Military Communication Market is anticipated to grow with a CAGR of 3.75% in terms of revenue over the forecast period of 2023-2032.

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Military communication is established on a sophisticated network of personnel, resources, as well as protocols that enable information sharing between various parties. Moreover, by relying on a new generation of technical solutions and supporting the communications revolution, threats to soldiers’ safety during operations are substantially minimized.

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Integration of 5G Technology to Propel Market Growth

5G is anticipated to deliver higher data at a faster speed, subsequently transforming military mobile platform distribution services as well as technologies such as bioinformatics, the Internet of Things (IoT), autonomous vehicles, and tactile internet. 5G also has the potential to become the connectivity fabric underpinning modern cloud-based AI-assisted distributed sensing efforts. Accordingly, the Department of Defense is expected to be a 5G customer and facilitator, advancing operational efficacy while enabling the development of the digital economy. Hence, the integration of 5G is set to play a vital role in fueling the global military communication market growth.

Army to be the Prominent Defense Force

The majority of the army’s internal combat, as well as materiel development programs, have strongly emphasized the enhancement of battlefield commanders’ capacity for knowledge use. Moreover, in recognition of the importance of information protection, the army has consistently highlighted the demand for impermeable and secure communications, in addition to the safety of automated systems from exploitation, intrusion, or the introduction of computer viruses.

North America to Hold Highest Share of the Global Market

The United States Armed Forces are frequently cited as having the strongest military globally. Furthermore, reliable communication, integrated with command-and-control and other units, has become integral to the increasingly communications-dependent battlefront environment, as well.

As the global military communications market continues to expand, there is fierce competition among industry competitors. Some of the leading players operating in the global military communication market are BAE Systems, General Dynamics, Thales Group, etc.

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Cellulite Treatment Market: Targeted Therapies & Key Product Types

Cellulite treatment refers to the various procedures and methods used to minimize the appearance of cellulite, a common condition characterized by the appearance of dimpled, lumpy flesh on the hips, buttocks, thighs, and stomach. As per Inkwood Research, the global cellulite treatment market is expected to grow with a CAGR of 9.44% during the estimated years of 2023 to 2032. Moreover, the global market is set to capture a revenue share of $5584.90 million by 2032.

Although cellulite affects both women and men, it is more prevalent in females, mainly due to different muscle, fat, and connective tissue distribution; the condition impacts 90% of women and 10% of men, majorly in industrialized nations. Moreover, as per a validated photonumeric cellulite severity scale, cellulite is ranked in three grades –

Grade 1 (Mild) – An ‘orange peel’ appearance, with upto 4 superficial depressions as well as a slightly sagging or draped appearance to the skin.

Grade 2 (Moderate) – A ‘cottage cheese’ appearance, with between five to nine medium-depth depressions. In this case, the skin looks moderately draped.

Grade 3 (Severe) – With 10 or more deep depressions, the skin is severely draped and has a ‘mattress’ appearance.

The Science Behind Cellulite – A Deep Dive into Causes & Major Types

Cellulite is often the result of a number of issues, such as hormones, poor circulation and lymphatic drainage, medical conditions (thyroid problems, diabetes, etc.), aging, and genetics, among others. Furthermore, the risk factors for cellulite may also include pregnancy and childbirth, a sedentary lifestyle, poor diet, obesity, and age.

While it may not be possible to entirely eliminate cellulite, several products, targeted treatments, and lifestyle changes may help reduce its appearance. The identification process, in this regard, is particularly important, as the appropriate treatment depends on the type of cellulite as well as the stage of its development.

Aligning with this, Inkwood Research has closely analyzed the three main types of cellulite: soft cellulite, hard cellulite, and edematous cellulite –

Also termed flaccid cellulite, soft cellulite is associated with sagging skin. It is often found in areas where fat accumulates, such as the stomach, arms, hips, legs, and buttocks.

Soft cellulite captured the highest revenue share of 65% in 2022, according to Inkwood Research’s analysis.

Hard cellulite is characterized by blemishes and depressions on the thighs, hips, and glutes.

As per Inkwood Research, hard cellulite is set to grow with the highest CAGR of 54% during the forecast period, 2023 to 2032.

Edematous cellulite, on the other hand, is the least common form of cellulite and can be challenging to treat. It results from poor blood circulation, aggravated by fluid retention.

Cellulite Treatment | Examining Targeted Therapies & Popular Products

Cellulite primarily occurs due to alterations in the connective tissue and changes in the composition of fat within fat cells (adipocytes). Treatments and therapies for the reduction of cellulite play an essential role in enhancing blood flow and unclogging the vessels previously blocked by the fatty tissue. When these fat deposits are eliminated, the body parts receive more blood than before the treatment.

The American Academy of Dermatology (AAD) reviewed various techniques that may be successful in terms of reducing the appearance of cellulite. They do so by deconstructing the bands of connective tissue under the surface of the skin. For instance, acoustic wave therapy works by disrupting hardened fibrous septae and providing the skin with natural elasticity. It also thickens the underlying skin, thus preventing lumpy skin from appearing. Subsequently, it enables fat cells to fall back naturally into a relatively smoother contour.

Subcision, on the other hand, is a process used to treat scars caused by skin conditions and has been noted to improve severe to moderate cellulite. The simple surgical procedure is performed through the insertion of a specially designed needle under the skin after inoculating a local numbing medication. As per the AAD, the results can last up to two years or more. Vacuum therapy is used to combat severe cellulite. Although there are little to no side effects of vacuum therapy, given its non-invasive nature, the patient may feel slight tightness and pain following the procedure. Aligning with this, non-invasive is set to be the dominating procedure over the projection period, capturing a revenue share of 42.21% in 2022.

While carboxytherapy involves inserting carbon dioxide gas under the skin, endermologie entails a deep massage with a vacuum-like device that lifts the skin. Specialized dermatology clinics predominantly offer cellulite treatments using carboxytherapy and endermologie technologies, coupled with consultation as well as in-depth assessment. These factors, in turn, play an important role in positioning clinics and beauty centers as the fastest-growing end-user during the forecast period.

Likewise, newly launched products using advanced technologies are also expected to gain traction, with multiple treatment products being introduced by market players. For example –

CoolSculpting, by ZELTIQ Aesthetics (United States), is one of the most popular non-invasive body contouring procedures. It destroys stubborn fat with controlled cooling and can be used to slim and sculpt the thighs, hips, abdomen, back, chin, and jawline for a toned appearance.

Liposuction has gained significant traction among individuals who wish to remove large volumes of fat and those that have been unable to obtain the desired results using non-invasive modalities. For instance, Smartlipo Triplex by Cynosure (United States) is a minimally invasive body contouring treatment used to remove fat using laser liposuction.

RESONIC Rapid Acoustic Pulse™ Technology, launched by Soliton Inc (United States), is a device that uses a first-of-its-kind technology and offers a paradigm-shifting approach toward cellulite treatment. Essentially, it helps improves the appearance of cellulite non-invasively with high patient satisfaction after just 1 treatment session.

Revelle Aesthetics’ (United States) Avéli™ is a one-time-use disposable device for cellulite designed to be used in an in-office procedure through a Targeted, Verifiable Subcision™ method. During a minimally invasive, advanced procedure with local anesthesia, a provider can treat both the buttocks and thighs for a variety of women across the spectrum of cellulite severity as well as complexity.

Endo International PLC (Dublin) received the US Food and Drug Administration (FDA) approval of Qwo™ in 2020 for treating moderate to severe cellulite in the glutes of adult women. Moreover, Qwo™ is the first FDA-approved injectable cellulite treatment.

As evidenced above, advancements in technology have expanded minimally invasive treatment options and helped to make aesthetics more accessible and effective. The advent of technologically advanced medical aesthetic equipment and devices has also paved the way for more streamlined as well as seamless cosmetic procedures in the modern era.

For instance, radiofrequency energy is utilized to heat the dermis and subcutaneous tissues and use infrared light to denature collagen leading to skin tightening. Moreover, the radiofrequency method is highly effective in terms of increasing blood circulation and skin tightening. While some devices combine massage, radiofrequency, and infrared, others use ultrasound energy to treat fat and reduce the appearance of cellulite. Therefore, such technological advancements are expected to provide the global cellulite treatment market with lucrative growth opportunities.

By Shruti Vanjare

FAQs:

Which are the major companies operating in the global cellulite treatment market?

Some of the leading players operating in the global cellulite treatment market are Sientra Inc, Candela Corporation, Endo International PLC, etc.

Are there any natural remedies to treat cellulite?

Some natural remedies for cellulite include dry brushing, massage with essential oils like grapefruit or juniper, and coffee scrubs. Although these treatments may provide temporary improvement, their effectiveness is not scientifically proven.

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