Latest Market Study Reports

Tuesday, February 2, 2021

China Testing, Inspection & Certification Market Size & Forecast Report, 2027

The China testing, inspection and certification (TIC) market size is projected to reach USD 61.8 billion by 2027. Due to the changing lifestyle of Chinese people and the growing awareness regarding quality and safety of products including electronic appliances, cosmetics, food products, and personal care products among consumers are major factors expected to drive the market growth. Moreover, growing outsourcing of TIC services by several companies operating in various end-use industries such as consumer goods, automotive, manufacturing, and transportation is expected to further augment the market growth in China.

The market is expected to witness substantial growth over the forecast period due to increasing investment in the construction and transportation industries by China government. Favorable government policies for international players to establish their footprints in China to achieve better liberalization are another factor anticipated to drive the market growth. The government of China has stimulated foreign investments in the market by uplifting barriers for foreign TIC providers to operate in the marketplace.

Get Free PDF Sample Copy of the Report (Including Full TOC, List of Tables & Figures, Chart and Covid-19 Impact Analysis) : https://www.millioninsights.com/industry-reports/china-testing-inspection-certification-tic-market/request-sample

Impact of COVID-19

Due to the sudden outbreak of COVID-19 and lockdowns in China, there are various products which have been produced but not yet shipped are left in factories. Thus, prolonged storage of food products, personal care products and others has generated the need of TIC services.

Several market players operating in this country have taken some initiatives to tackle covid-19 outbreak. For example, a leading provider of supply chain and quality control, QIMA announced that, it will offer free services for inspection of medical protective gear, disposable face mask in China.

Earlier, most of the companies in China preferred in-house TIC services. However, growing cost of in-house inspections due to strict regulations and standards regulated by China government has led to increase in the adoption of outsourced TIC services. In addition, growing trend of outsourcing TIC services is projected to drive market growth. The growing accessibility of the domestic market for foreign incumbents as well as provision for cost-effective TIC services providers expected to have a positive impact on market growth.

Further key findings from the report suggest:

• The China TIC market is expected to have significant growth due to growing number of investments for international players in this industry.

• The inspection service segment is projected to grow with the fastest CAGR of over 8.5% during the forecast period.

• In transportation and infrastructure, TIC services play an important role, thereby; growth of these two sectors in China will drive the market growth in the next few years.

China Testing, Inspection & Certification Market: Key Players

In Touch Services Ltd.; DEKRA SE; DNV GL Group AS; AsureQuality Limited; Intertek Group PLC; Lloyd’s Register Group Limited; SGS S.A; TUV Rheinland AG Group; Underwriters Laboratories Inc.; Asia Quality Focus; HQTS Group Ltd China Inspection Co., Ltd.; Centre Testing International; China Certification & Inspection Group; American Bureau of Shipping; Hartford Steam Boiler; Larsen & Toubro; Bureau Veritas SA; .; Asia Inspection; China Building Material Test & Certification Group Co. Ltd.; China Special Equipment Inspection and Research Institute; Asia Quality Control; V-Trust; TUV SUD; China Classification Society and TUV Nord

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APAC Automotive Suspension Systems Market Applications, Types and Market Analysis to 2025

The Asia Pacific automotive suspension systems market size is anticipated to reach USD 44.51 billion by 2025. It is also expected to register 4.44% CAGR during the forecasted period, 2017 to 2025. This can be associated with the rising demand for automobiles prevailing among the millennial population across developing countries like India and China.

In 2016, the segment of passenger vehicle held the largest share across the APAC region due to rising demand for vehicles like luxury cars, vans, sedans, and SUVs. The segment of commercial vehicle is also anticipated to register moderate growth in the upcoming years due to rising need for vehicles to carry luggage.

Get Free PDF Sample Copy of the Report (Including Full TOC, List of Tables & Figures, Chart and Covid-19 Impact Analysis) : https://www.millioninsights.com/industry-reports/asia-pacific-automotive-suspension-systems-market/request-sample

The electromagnetic damping segment is projected to witness the highest CAGR from 2017 to 2025. On the other hand, the segment of air suspension is expected to witness significant growth in the upcoming years on account of rising preference over conventional traditional steel rings.

The APAC automotive suspension systems market includes key players, they are constantly engaged in product development and innovation to gain a competitive advantage over other players.

Further key findings from the report suggest:

• The ball joints component type are anticipated to register fastest growth from 2017 to 2025.

• The segment of passenger vehicles held the largest share across the global market in 2016.

• The electromagnetic damping segment is anticipated to register highest CAGR in the upcoming years.

APAC Automotive Suspension Systems Market: Key Players

Multimatic Inc., WABCO Holdings., F-TECH INC, Tenneco Inc., and Continental AG.

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Monday, February 1, 2021

Toaster Market Emerging Trends, Analysis and Forecasts 2025

The global toaster market is estimated to reach USD 4.5 billion, by 2025, and is projected to grow at a CAGR of 4.8% from 2019 to 2025. The increasing demand from hotels, coffee shops, restaurants, and cafés is a key factor driving market growth. Product innovation, and advanced technology are encouraging manufacturers to develop new products to meet consumer needs. Top players are launching smart toaster which are user friendly and easy to operate. This trend is expected to increase the demand for the product in the next few years.

The increasing purchasing power of consumers especially in the developing countries such as India and China is also boosting the market growth. Asia Pacific region held the largest market share of 30.4% in the overall market. The increasing adoption of fast foods and quick-service restaurants in the region is boosting the demand for the toaster. According to Japanese research institute, it is observed that 51% of people in Japan prefer bread in their breakfast. This has led to the purchase of toasters, thus driving the toasters market.

The pop-up toaster type held the highest share of over 54.0% in the overall market. Pop-up toasters are highly efficient and consume less energy in comparison with stove or oven type. It also offer defrost options, and auto heat adjustment feature. Conveyor segment is projected to grow at significant rate in the coming few years. The product has high demand from hotels and restaurants owing to its large size & food carrying capacity.

The residential segment dominated the market with the majority of market share, in 2018. Toaster offers convenience with easy and quick breakfast. This segment is leading because of the growing working population especially in the developing countries across the globe.

The industry possesses heavy competition owing to the presence of large number of manufacturers. The market is mainly formed by domestic players by over 60% in the overall market. Major players in the market are focusing on product innovations and expanding their reach across the world.

Further key findings from the report suggest:

• In 2018, depending on product type, conveyor toaster is anticipated to grow at a CAGR of over 5.9%from 2019 to 2025.

• Based on the application, residential segment attributed to market share over 70% in 2018.

• Asia Pacific region dominated the toaster market in 2018and is expected to remain at its position in the next few years owing to increasing disposable income across the countries such as China, India, and South Korea.

Global Toaster Market: Key Players

Breville USA, Inc., The APW Wyott, Hatco, Cuisinart, Waring Commercial, and Star Manufacturing International.

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Smart Office Market Demand by Regions till 2025

The global smart office market size is anticipated to reach USD 57.05 billion by 2025. It is also expected to register 13.2% CAGR during the forecasted period, 2017 to 2025. This can be associated with the rapid developments being carried out in technologies like IoT coupled with an increasing need to develop energy-efficient devices for official usage.

The hardware component segment held the largest share across the global market in 2016 due to the development of several internet operated devices that can collect the real-time data of employees. While the service segment is projected to witness 15.0% CAGR from 2017 to 2025 on account of increasing deployment of cloud-based solutions.

In 2016, the retrofit segment dominated the global market and is projected to continue its growth in the upcoming years on account of the rising need for installation of energy-saving technologies in these retrofit offices. On the other hand, the new construction segment is also anticipated to register substantial growth during the forecasted period, 2017 to 2025.

The smart offices market includes key players such as ABB Ltd.; Schneider Electric; Cisco Systems, Inc.; Honeywell International, Inc.; and Johnson Controls. They are implementing the latest technologies like IoT in their products to gain a competitive advantage over other players. Also, strategies like mergers and acquisitions are being undertaken by these players to widen their global reach.

Further key findings from the report suggest:

• The service segment is expected to witness 15.0% CAGR during the forecasted years, 2017 to 2025.

• The retrofit office type segment is projected to register highest CAGR during the forecasted years, 2017 to 2025.

• North America held the largest share across the global smart office market in 2016.

Global Smart Office Market: Key Players

ABB Ltd.; Schneider Electric; Cisco Systems, Inc.; Honeywell International, Inc.; Johnson Controls; and Siemens AG.

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Modular Kitchen Market Region, Type and Top Players Analysis 2025

The global modular kitchen market size is projected to touch USD 28.54 billion by 2025. The market is estimated to grow at a CAGR of 5.8% from 2019 to 2025. Growing residential construction coupled with increasing consumers’ purchasing power in emerging countries such as India, China and Brazil is attributing to the market growth. Further, increasing trends of nuclear families in emerging countries is also supplementing the market growth.

The L-shaped segment occupied the largest market share with over 55% in 2018. Factors such as convenience and flexibility offered by this design shape are proliferating the segment growth. Also, this shape is considered to be most suitable for compact space.

Tall storage is estimated to grow at the highest CAGR of 6.3% over the forecast years. It has an ability to store commodities in bulk and it offers an aesthetically appealing look. This factor is expected to augment the market growth for this segment.

Wood products held the largest market share in 2018 with over 60% of the market share, while fiber/plastic segment is likely to grow at the fastest CAGR over the forecast duration. Plastic features such as water-proof and termite-proof are supplementing the segment growth. Further, plastic is robust and available in different colors at comparatively low cost.

Europe was the largest market with over 30% of the market share in 2018. Presence of key manufacturers and the growing trend of the nuclear family in countries such as U.K, France and Germany are bolstering the segment growth. Asia Pacific, on the other hand, is estimated to grow fastest over the forecast period. Rising demand from emerging countries such as China, India and Indonesia is driving the regional growth.

Manufacturers are focusing on strategic initiatives such as merger and acquisition, product innovation and business expansion to garner a larger market share.

Further key findings from the report suggest:

• In 2018, floor cabinet occupied the largest market share of more than 60% in 2018.

• Among different raw materials, the wood product is estimated to hold over 40% of the market share by 2025.

• Online distribution channel is likely to exhibit a CAGR of 6.2% over the forecast period.

Global Modular Kitchen Market: Key Players

Nobia AB, LINEADECOR, Häfele GmbH & Co KG, Bulthaup, Hettich Group, Pedini, Häcker Küchen GmbH & Co. KG and Snaidero Cucine

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Camping Tent Market Manufacturing Cost Analysis 2025

The global camping tent market size is expected to register a revenue of USD 3.28 billion by the end of 2025. It is expected to grow with CAGR of 6.3% from 2019 to 2025. This growth can be attributed to rising interest in outdoor sports activities among the millennial population.

Initiatives undertaken by statutory governing bodies to boost sports activities like camping and trekking are anticipated to boost the demand for camping tents. A report by the Physical Activity Council (PAC) stated that around 11 billion outings were witnessed in the U.S. during the year 2016. Furthermore, the report by ATTA (Adventure Travel Trade Association) states that the 21% CAGR was observed in the global adventure travel market.

The tunnel tents product segment held the largest market share in 2018 due to features like good protection from extreme weather and speedy winds. The segment of dome tents is anticipated to register the highest CAGR during the forecasted period, 2019 to 2025 owing to features like easy storage, setup and stronger headroom.

The online distribution channel segment is anticipated to register the fastest CAGR during the forecasted years, 2019 to 2025. This growth can be attributed to features like convenience and ease of shopping. Moreover, influence of social media and its platforms like YouTube, Facebook and Instagram are projected to boost the market growth for such products.

Europe held the largest share across the camping tent market during 2018 owing to increasing sector of adventure tourism across countries like the U.K, Germany, France, Austria, Sweden, Russia, and Norway. Asia Pacific is anticipated to register the highest CAGR of 6.9% from 2019 to 2025.

Key players are continuously engaged in implementing marketing strategies like acquisitions and mergers, celebrity endorsement and improving their brand awareness across the globe.

Further key findings from the report suggest:

• In 2018, Europe held the largest share across the camping tent market. It is also expected to grow further at a significant growth rate from 2019 to 2025.

• Asia Pacific is anticipated to register the highest CAGR of 6.9% during the forecasted years, 2019 to 2025.

• The tunnel tents product segment held the largest market share exceeding 50% across the global market on 2018.

• The commercial application segment of camping tent is expected to register the highest CAGR of 6.5% from 2019 to 2025.

Global Camping Tent Market: Key Players

Camping tentare Hilleberg, The North Face, Oase Outdoors, AMG GROUP, Big Agnes, Kampa, Exxel Outdoors, Johnson Outdoors, The Coleman Company, and Newell Brands.

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Asset Performance Management Market Forecast by Regions 2025

The global asset performance management market size is anticipated to reach USD 24,401.62 million, by 2025, and is projected to grow at a CAGR of 9.15% from 2019 to 2025. The growing demand for a dedicated system in maintaining assets of the company is projected to spur market growth. Asset management solutions offer optimized performance and reduce operational costs. Moreover, it helps in tracking the performance of heavy equipment, turbine engines and machinery in industrial operations.

Asset management includes asset risk and strategy management, asset reliability management, and predictive asset management tools. Increasing usage of these solutions in manufacturing, energy and utilities, mining, and transportation sector is contributing to market growth. In 2018, the manufacturing segment dominated the market with the largest market share. The small and medium manufacturers across the world are opting for these solutions to manage their assets in the manufacturing unit.

Get Free PDF Sample Copy of the Report (Including Full TOC, List of Tables & Figures, Chart and Covid-19 Impact Analysis) : https://www.millioninsights.com/industry-reports/global-asset-performance-management-market/request-sample

Impact of COVID-19

COVID-19 has opened multifaceted challenges to asset performance management across the various industries such as infrastructure, real estate, manufacturing, and other sectors. Transportation sector is facing huge impact due to loss of revenues. Thus, asset management is now becoming critical during pandemic situation, as the carrying out capital maintenance, repair when the assets utility is low.

Various factors such as reduced productivity, and supply chain disruption is affecting the growth of the industry. However, rising cyber security concerns and growing need for risk mitigation are projected to positively impact on market growth.

Energy and utilities vertical held the highest market share in 2018. This growth is constituted by the increasing adoption of asset management tools in the energy sector to manage their assets. For example, Tata power uses the AVEVA group’s PRISM predictive asset analytics to manage the performance of its assets. This solution helps in enhancing the performance and increasing the reliability of its assets.

Companies are reluctant to tackle unplanned downtime from asset failure. Asset management tools helps in monitoring assets performance, and avoiding failure risks. The inability to maintain assets and ineffective maintenance can lead to a decline in the sales of the company. Cloud-based solutions helps in managing the efficiency of assets and maintenance costs. Furthermore, the development of Industrial IoT platforms especially in cloud-based applications is anticipated to be a key factor proliferating the demand for asset management solutions.

Further key findings from the report suggest:

• Growing trend of digitalization in industrial operations for maintenance and asset tracking is influencing companies to look after asset management solutions.

• Predictive asset management solutions are growing in popularity due to the usage of advanced tools, neural analysis, and simulation techniques.

• Depending on the deployment mode, on-premise systems held the largest market share in the overall market.

• Hosted type deployment is anticipated to grow at a CAGR of over 11.0%over the forecasted period.

• Public cloud type dominated the market with share of over 60.0% in 2018.

Global Asset Performance Management Market: Key Players

ARMS Reliability; Aspen Technology Inc.; ABB; Bentley Systems Incorporated; IBM Corporation and General Electric.

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