Pancreatic Cancer Treatment Market Size Worth $4.2 Billion By 2025

The global pancreatic cancer treatment market is expected to reach USD 4.2 billion in 2025, according to a new report by Grand View Research, Inc. Increasing tobacco consumption, smoking, obesity, and growing awareness pertaining to various treatment options available are propelling the market growth at a global level. The peak incidence of pancreatic cancer is seen in the age group of 65 to 75 years. Thus, growing geriatric population is also expected to drive the growth during the forecast period.

According to an article published in the National Center for Biotechnology Information in 2015, pancreatic cancer is one of the most dangerous malignancies and is the fourth most common cause of cancer deaths in the U.S. Furthermore, pancreatic cancer is expected to be the second common cause of death in the U.S., by 2030. These factors together would propel the market growth in the forecast period.

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http://www.grandviewresearch.com/industry-analysis/pancreatic-cancer-treatment-market

Further key findings from the study suggest:

The study suggests that exocrine cancer is by far the most common type of pancreatic cancer accounting for more than 95% of the overall pancreatic cancer types
Among the treatment types, targeted therapy occupied the largest share since it is considered as the most effective treatment option, which blocks the growth and spread of cancer cells without damaging healthy cells
North America dominated the segment with the largest revenue share in 2015 due to high adoption rate of advanced treatment options and highly developed healthcare infrastructure
Asia Pacific is anticipated to show a significant growth during the forecast period, mainly due to increasing government initiatives, growing awareness regarding the treatment options for pancreatic cancer, and the availability of highly sophisticated medical infrastructure for effective treatment
Some of the major companies operating in this market are, but are not limited to, Eli Lilly and Company; Celgene Corporation; F. Hoffmann-La Roche AG; Amgen, Inc.; Novartis AG; PharmaCyte Biotech, Inc.; Clovis Oncology; Teva Pharmaceutical Industries Ltd.; Merck & Co., Inc.; and Pfizer, Inc.

Pacemaker Market Size Worth $5.8 Billion By 2027

The global pacemaker market size is anticipated to reach USD 5.8 billion by 2027, expanding at a CAGR of 2.9%, as per the new report by Grand View Research, Inc. The increasing prevalence of cardiovascular diseases is a key growth driver for the market. As per the CDC, in 2017, CVDs accounted for about 800,000 deaths in the U.S alone. Moreover, coronary heart disease accounts for the highest number of deaths, followed by stroke and heart failure.

As per the British Heart Foundation Centre in 2018, nearly 7.4 million individuals are living with circulatory and heart diseases in the UK. More than 43,000 individual under 75 years of age dies due to cardiac diseases every year in the UK. To curb the rising prevalence of CVDs is government bodies and key market players are channelizing revenues to offer a potential treatment. This is anticipated by the influx of advanced products in this market space.

As per the CDC, 2020, more than 15.0% of U.S. adults are physically inactive that shows the prevalence of adult physical inactivity. Technological developments are quickly renovating the market. Key players are focusing on expanding their current portfolio such as in January 2020, BIOTRONIK launched an injectable cardiac monitor, BIOMONITOR III in Japan. It is intended to measure irregular heart rhythms with increased clarity. The injectable cardiac monitor also documents the unexplained syncope. Moreover, in January 2019, Medtronic launched MyCareLink Heart (TM)-a mobile app for communicating directly with patients via smartphones.

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https://www.grandviewresearch.com/industry-analysis/pacemaker-market

Further key findings from the report suggest:

MRI compatible pacemakers is the fastest-growing segment from 2020 to 2027 owing toa higher patient preference rate as 75% of the patients with pacemakers are likely to get MRI during their lifetimes
Atrial Fibrillation held the largest market share in 2019 owing to the heightened prevalence of growing with age. As per the National Center for Biotechnology Information, 2020, nearly 6 to 12 million people globally are expected to suffer from atrial fibrillation in the US alone by 2050
The biventricular chamber product segment is expected to be the fastest-growing segment from 2020 to 2027. The device is also is known as Cardiac Resynchronization Therapy (CRT) device. An increase in the prevalence of heart failure is one of the major factors driving the growth of the segment
Key companies are adopting new strategies to attain a competitive edge. Product development, collaborations, partnerships, mergers and acquisitions, and regional expansion are few of them.

Tissue Diagnostics Market Worth $6.6 Billion By 2027

The global tissue diagnostics market size is anticipated to reach USD 6.6 billion by 2027, growing at a CAGR of 5.9% during the forecast period, according to a new report by Grand View Research, Inc. Accelerating demand for automated tissue diagnostic systems due to the lack of skilled pathologists has driven the market. The advent of advanced imaging techniques, such as autofluorescence, that minimize the need for invasive diagnostics further supplement market growth.

The digitalization of tissue diagnostic techniques has resulted in the improvement of workflows and better patient care. Ongoing strategic models taken-up by key companies to enhance the efficiency of diagnostics also drives the market. For instance, in December 2019, Philips collaborated with Paige to provide clinical-grade artificial intelligence-based solutions to pathology laboratories. This enhanced the speed and accuracy of cancer diagnostics in laboratories.

Tissue diagnostic techniques, such as immunohistochemistry (IHC) or in situ hybridization, are used in companion diagnostics (CDx) to determine the quantity of a target analyte present in the sample. Introduction of CDx tests, such as the launch of the VENTANA HER2 Dual ISH CDx

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https://www.grandviewresearch.com/industry-analysis/tissue-diagnostics-market

Further key findings from the report suggest:

IHC tests are highly adopted as these tests are specific and helpful in identifying the variations between different types of cancer, resulting in the largest revenue share
A rise in the investments for the development of advanced infrastructure to digitalize images is anticipated to drive the digital pathology segment with the fastest CAGR.
Moreover, an increase in the demand for automated modalities owing to a dearth of skilled pathologists further compliments this growth
A large number of breast cancer cases coupled with a rise in the application of digital image processing techniques on histopathological samples for breast cancer detection contributes to the largest share of breast cancer
Prostate cancer is anticipated to register lucrative growth owing to the extensive ongoing research pertaining to early diagnosis and prevention of this disease
Hospitals dominated the market in terms of revenue share due to the high adoption of tissue diagnostics solutions. These solutions provide accurate results in minimal time than conventional testing procedures
North America accounted for the largest revenue share owing to increasing collaborations between pharmaceutical and biotech firms to expand their product offerings
The requirement of better laboratory management systems, growing demand for novel patient care facilities, and favorable regulatory framework, boost the Asia Pacific market at a lucrative pace
Abbott, QIAGEN, Roche, Siemens, Danaher, Thermo Fisher, and Merck are some key participants operating in the tissue diagnostics market
Key vendors are engaged in novel product developments, partnership, and acquisition models to maintain their revenue share in the market.

Surgical Navigation Systems Market Size Worth $1.44 Billion By 2027

The global surgical navigation systems market size is expected to reach USD 1.44 billion by 2027, exhibiting a 7.2% CAGR during the forecast period, according to a new report published by Grand View Research, Inc. Growing geriatric population along with rising prevalence of brain cancer, orthopedic degenerative and ENT among other target disorders and diseases is expected to propel the demand for surgical navigation systems (SNSs).

Aging is considered as the greatest risk factor for the development of degenerative disorders of joints; such as osteoporosis. Rising geriatric population is expected to serve as a high-impact rendering driver for the market. Osteoarthritis and osteoporosis are the most common disorders in the population aged over 65 years. Growing prevalence of these disorders possesses increasing economic burden on many countries. As per International Osteoporosis Foundation, total number of hip fractures is expected to reach 5,395 million by 2050.

According to the Central Brain Tumor Registry of the United States (CBTRUS), the incidence of all non-malignant brain, primary malignant, and other CNS tumors was 22.64 cases per 100,000 in 2016. In U.S., over 78,980 new cases of non-malignant brain, primary malignant, and other CNS tumors were anticipated to be diagnosed in 2018. This factor is anticipated to propel the demand for surgical navigation systems in the forthcoming years.

The demand for minimally invasive procedures is increasing across the world. Surgical navigation systems are instrumental in providing better accuracy and precision in diagnosis and determining correct implementation of plans during surgery, thereby aiding in minimally invasive procedures with improved patient outcome. They offer visual imaging at every stage of the surgery thereby allowing modification of plan during the surgical procedure according to intra-operative findings. It is also cost-effective in joint replacement procedures as very few patients require revision after a one-time procedure. These associated advantages are expected to boost the product demand over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/surgical-navigation-systems-market

Further key findings from the study suggest:

Neurology segment held the largest market share of 36.67% in 2019, owing to the early implementation of surgical navigation in this branch and the advantages associated with SNSs that aid the surgeons to perform complex surgeries with increased accuracy
ENT segment is expected to expand at a lucrative CAGR of 8.2% over the forecast period, owing to the rising prevalence of ENT disorders along with increasing adoption in ENT surgeries
On the basis of technology, the electromagnetic SNSs segment held the largest market share in 2019, owing to low cost and ease of use of the technology
Optical SNSs segment is expected to witness an exponential CAGR of 8.1% owing to its advantages over electromagnetic SNSs such as precise and accurate navigation
Key players in surgical navigation systems market are engage in various strategies such as new product developments for better market penetration. In September 2019, Brainlab declared FDA clearance for Cirq robotics. The device is being used in U.S. for spinal application. Cirq is designed to help increase precision in navigated spinal surgery procedures, thereby, strengthening their product portfolio.

Ferrous Scrap Recycling Market Size Worth $111.9 Million By 2027

The global ferrous scrap recycling market size is anticipated to reach USD 111.9 million by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 1.7% from 2020 to 2027. Increasing secondary metal production is anticipated to augment market growth.

Scrap metal recycling plant and crane-Loading scrap in a truck

Crude steel is produced through basic oxygen converter and electric arc furnace (EAF), where the former follows the conventional method of production that includes raw materials, such as iron ore, metallurgical coal, limestone, and very less amount of scrap. However, in the EAF, scrap is the key raw material along with less energy consumption. According to the World Steel Association, crude steel production through the EAF process increased by 10.1% from 2017 to 2018. Growing steel production through the EAF process is a key driving factor for the market.

Ferrous scrap recycling is a market with lots of growth potential owing to increasing concerns over sustainability and depleting non-renewable resources. As a result, recycling is the most viable and efficient option to continue the production of metals owing to rapidly accelerating demand and at the same time causing minimal impact on the environment.

The recycling process involves certain steps, which are, scrap metal collection at yards, sorting, passing through radiation detector, shearing, shredding, separation of ferrous materials, media separation, and baling. After passing through all processing steps, the obtained blocks of ferrous scrap are transported to steel mills for further processing and are used in production.

Ferrous scrap is collected through various sources, where the key markets include construction, automotive, consumer goods, and industrial goods. The construction industry is the major contributor towards scrap generation as ferrous products recovered from the sector can be used directly if the quality is not impacted or else are sent for recycling.

Automotive is the second major sector in the market, as the recovery rate of scrap from vehicles often lies between 95-100%. Over 25 million vehicles are recycled across the world annually generating a large amount of scrap. The car recycling industry is a large market as it not only helps in reducing carbon footprint but also provides thousands of jobs and generates revenue for the economy. Over 80% of materials in a vehicle are recyclable, of which, metal is most accessible. In the U.S., around 18 million tons of steel is reused that helps in reducing air pollution by 86% and water pollution by 76%.

Based on region, Europe held the largest share in the market owing to the technological advancements, coupled with the presence of various recyclers in the region. As a result, the region is the largest exporter of ferrous scrap in the world, helping developing nations, which are still under the process to organize their scrap and recycling markets.

The competitive scenario of the market is high owing to the extremely unorganized nature of the market. Integration across various stages of the value chain is witnessed, for instance, automotive players setting up their own shredding units. In 2019, Maruti Suzuki and Toyota Tshusho Group announced a joint venture to set up a vehicle dismantling and recycling unit in Noida, Uttar Pradesh, India by 2020-21.

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https://www.grandviewresearch.com/industry-analysis/ferrous-scrap-recycling-market

Further key findings from the report suggest:

Asia Pacific anticipated registering the highest growth rate of 2.6%, in terms of revenue, across the forecast period, owing to increasing developments in scrap recycling in developing economies, like India
Europe held the largest volume share of 42.5% in 2019 owing to rapid development in the recycling industry of the region
The construction sector held the largest revenue share of more than 46.0% in 2019 due to increasing consumption of ferrous materials, such as steel, in the industry owing to its phenomenal properties
The consumer goods sector is anticipated to register the fastest growth rate of 2.1% in terms of revenue, during the forecast period, owing to rapid production of electronics and their short lifespan
The market is hit by the covid-19 pandemic, which can be indicated with low demand and declining prices of scrap because of restricted manufacturing and transportation across the globe as of 2020.

Non-ferrous Scrap Recycling Market Worth $308.5 Million By 2027

The global non-ferrous scrap recycling market size is anticipated to reach USD 308.5 million by 2027, expanding at a CAGR of 2.8%, according to a new report by Grand View Research, Inc. The growth of the market is attributed to increasing consumer awareness pertaining to recycling coupled with the rising production of secondary metals.

The primary production of metals is a capital intensive procedure and consumes lots of energy. Usage of scrap in metal production reduces manufacturing costs and energy consumption, making secondary metal production both economically and environmentally friendly. This compels the manufacturers to opt for secondary production, giving rise to more demand for scrap metal.

Based on metal, the market has been segmented into aluminum, copper, lead, and others. There are various types of non-ferrous metals of which aluminum and copper account for a higher share owing to their phenomenal properties. Such properties propel their use in various applications including construction, automotive, and consumer goods industries. As a result, these three sectors are the major contributors to the generation of non-ferrous metal scrap.

Aluminum is extensively used in the construction industry owing to its lightweight characteristics in various structures such as roofing, walls, door and window frames, and even handles. Its usage is increasing in the automotive industry as well in vehicle body frames. The metal has a high recovery rate from both the construction and automotive sectors, which makes its largest segment, in terms of volume, of the global market.

Non-ferrous accounts for a higher revenue share than ferrous scrap in the overall market owing to their high prices. However, the spread of the covid-19 pandemic has caused the prices of the metals to decline drastically. In India, prices of aluminum and copper dropped by 5% in February 2020 from January 2020. The pandemic caused the shutting down of manufacturing operations and restricting transportation, which resulted in low demand for these metals, resulting in a decline in prices.

Construction and automotive are major shareholding sectors in terms of scrap generation; however, their growth rate is less when compared to consumer goods. Household appliances and other consumer goods have a short lifespan than structures and vehicles, owing to which these products tend to turn into scrap faster than products of the other sectors.

Asia Pacific accounted for the largest volume share in 2019 and this trend is anticipated to continue over the forecast period. The growth is augmented towards Japan, India, and Southeast Asian countries, which are taking efforts in improvising their recycling industry. The nations are inviting investments for the industry to propel market growth. For instance, in 2019, Jiangxi Copper Co. announced its plan to build a plant for producing refined copper in Malaysia, where scrap shall be used as a key raw material.

The growth of the non-ferrous scrap recycling industry is expected to be further propelled by government initiatives. For instance, on March 27, 2020, the Indian Ministry of Mines released a Draft National Non-Ferrous Metals Scrap Recycling Policy for emphasizing on the underdeveloped non-ferrous scrap recycling sector in the country. India is a huge hub of scrap generation; however, due to unorganized nature and less consumer awareness towards recycling, the country majorly relies on imports for its consumption. Such policies are expected to address the issues pertaining to recycling in the country.

The market is both highly competitive and unorganized in nature. The COVID-19 pandemic has largely impacted market growth and players of the industry as of 2020. Factors like shortage of workers, no demand from manufacturing plants, no inflow of scrap in yards owing to social distancing, and transport restrictions have led to the shutdown of many recycling centers. As of March 2020, non-ferrous scrap processors in China reduced their operating capacity to 40-50% owing to declining orders.

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https://www.grandviewresearch.com/industry-analysis/non-ferrous-scrap-recycling-market

Further key findings from the report suggest:

Asia Pacific held the highest revenue share of over 45.0% in 2019 owing to increasing investments and initiatives towards generation and processing of non-ferrous scrap in the region
Automotive is anticipated to witness a CAGR of 2.9%, in terms of revenue, over the forecast period owing to the rise in the number of discarded vehicles every year across the globe
Copper held the largest revenue share of over 56.0% in 2019 owing to its high price compared to other metals and its increasing demand from construction and consumer goods sectors
Construction held the largest volume share of 36.0% in 2019 owing to high consumption of non-ferrous metals like aluminum, copper, and zinc in infrastructural developments and high recovery rate of these metals
Considering the increasing demand for non-ferrous metals, investments in the industry are evident. For instance, in March 2018, Meldgaard opened its facility in Denmark for recycling ash and heavy metal processing.

Base Oil Market Size Worth $30.8 Billion By 2027

The global base oil market size is projected to reach USD 30.8 billion by 2027, expanding at a CAGR of 5.1%, according to a new report by Grand View Research, Inc. Rising demand for the product from the global automotive sector to formulate various oils is projected to remain the key factor driving industry growth.

Increasing demand for group II base oil among various end-use industries such as the automotive and industrial sectors is expected to drive market growth significantly over the forecast period. The rising popularity of base oils is majorly due to their high wear and tear resistance, improved thermal stability, low friction, and enhanced load carrying capacity. This is projected to increase product demand over the foreseeable future across the globe.

Research and development and production of new cutting-edge technologies such as ester-based fire-resistant oils are being commonly incorporated in a variety of industries and are used with hydraulic battery packs so as to sustain high pressures and temperatures. Additionally, numerous large-scale OEMs have implemented food lubrication NSF standards with the purpose of utilizing PAO food grade products in the food, beverage, and nutrition sectors. This, in turn, is expected to open new opportunities for the industry over the projected period.

Further, in terms of industry opportunity, over the past couple of decades, there has been a significant surge in interest towards bio-based lubricants and for base oils obtained particularly from vegetable sources. This is attributed to increasing awareness among global manufacturers and consumers towards environmental degradation which eventually led to a demand surge for sustainable alternative feasible products with reduced carbon footprints. Advanced economies of Asia Pacific and Europe have made it mandatory to replace conventional products with biodegradable counterparts.

Companies operational in the ecosystem has been constantly striving to adapt to the changing dynamics of the global market space, in-lining their products with formulated government policies and consumer preferences. For instance, ExxonMobil introduced Environmental Awareness Lubricants hydraulic fluids line. These innovations are likely to reflect the positive growth trend of the market over the forecast period.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/base-oil-market

Further key findings from the report suggest:

Group II base oil is expected to witness a CAGR of 1.6%, in terms of volume, from 2020 to 2027 due to steady growth in the lubricant industry
Industrial application accounted for a market share of 15.0% in 2019, in terms of revenue, owing to rising demand from emerging economies and growing automation in operations
Asia Pacific is expected to register the fastest growth rate of 5.5%, in terms of revenue from 2020 to 2027 owing to increasing industrial activities across key countries and rising investments in manufacturing facilities
Companies such as ExxonMobil Corporation, Royal Dutch Shell, and British Petroleum are the market leaders with their worldwide brand presence, catering to an array of industries such as automotive and industrial manufacturing
The market is concentrated with multinational brands presence globally with established long-term contracts with key end-user groups, thereby limiting the entry of new industry participants.

Compound Semiconductor Materials Market Worth $46.9 Million By 2027

The global compound semiconductor materials market size is expected to reach 46.9 million by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 3.8% from 2020 to 2027. The market is expected to be driven by an increase in product demand from the end-use industries due to its ability to consume less power, along with the broad temperature range and high electron mobility.

The expansion of China’s integrated circuit production is expected to have a positive impact on market growth. China is expected to witness substantial growth of over 10% in the production by 2023, thereby becoming one of the largest manufacturers in Asia. However, the drop in the production of the semiconductor industry across the globe due to the COVID-19 outbreak is expected to have an adverse impact on the demand for compound semiconductor materials.

Manufacturers are largely dependent on reliable suppliers having high goodwill on account of past product procurement, making it difficult for new entrants to penetrate into the market. In addition, the market exhibits the presence of several well-established players with a strong financial base, thereby limiting the entry of new market players.

The market exhibits high industry rivalry owing to the presence of a large number of manufacturing firms in the marketspace. However, there is an ongoing struggle among these players to capitalize on the novel avenues for growth. The presence of a number of companies in the market results in a high level of competition, which, in turn, has elevated the competitive rivalry.

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https://www.grandviewresearch.com/industry-analysis/compound-semiconductor-materials-market

Further key findings from the report suggest:

By product, group III-V compound semiconductor materials are estimated to reach USD 25.1 million by 2027 owing to their higher power efficiency and unique optical properties, including excellent mobility and photon-electron conversion efficiency
The telecommunication application segment dominated the market in 2019 and is expected to witness significant growth over the forecast period owing to the extensive product use for communication devices
Asia Pacific is estimated to register the fastest CAGR in terms of revenue owing to the surge in demand for semiconductors for electronic devices, driven by an increase in per capita income and rapid industrialization in the region
Taiwan is expected to emerge as a key consumer over the forecast period owing to the presence of some of the few largest integrated circuit manufacturers in the region
Key players are focused on the expansion of production capacity in order to cater to the rising product demand.

Glass Curtain Wall Market Worth $79.0 Billion By 2027

The global glass curtain wall market size is expected to reach USD 79.0 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.0% over the forecast period. Growing product adoption in the construction of modern buildings and improvements in the installation technology is anticipated to drive the market over the forecast period.

Rapid urbanization and increasing employment opportunities in emerging economies of China, India, Vietnam, and Indonesia are driving the commercial construction industry. Moreover, the growing adoption of modern architectural designs and a rising preference for building structures with modern looks are expected to boost product demand in the Asia Pacific.

Growing investment in the construction of green buildings is one of the major factors driving the adoption of a glass curtain wall system. Furthermore, improvements in glass glazing technology and the growing adoption of Building Integrated Photovoltaics (BIPV) systems are anticipated to positively impact market growth over the forecast period.

Manufacturers are actively working on improving the thermal and energy efficiency of the glass curtain wall systems. Moreover, the advancements in glassmaking technology have enabled the production of large-sized glass panes, thereby providing a seamless and minimalistic look to the building structure and reducing the probability of leakage owing to minimal seam joints.

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https://www.grandviewresearch.com/industry-analysis/glass-curtain-wall-market

Further key findings from the study suggest:

The stick system type segment is expected to witness a revenue-based CAGR of 5.9% over the forecast period on account of its rising adoption in the construction and renovation of shopping centers, office buildings, and low rise structures
In 2019, the revenue for the public end-use segment in Europe stood at USD 3.3 billion owing to its wide-ranging adoption in the construction of various government and institutional buildings such as offices, libraries, auditoriums, and train stations
In China, the residential end-use segment is anticipated to witness a revenue-based CAGR of 9.4% over the forecast period on account of growing product installation in the construction of residential structures such as apartment complexes and single-family homes
Unitized system type segment in Europe is expected to witness a revenue-based CAGR of 6.0% over the forecast owing to the growing demand for the energy-efficient facade systems and rising adoption of BIPV in the region
Manufacturers are continually engaged in expanding their product portfolio along with introducing new and advanced technologies and provide installation services and after-sales support to the clients.

Water Heater Market Size Worth $37.52 Billion By 2027

The global water heater market size is expected to reach USD 37.52 billion by 2027, accelerating at a CAGR of 4.0% over the forecast period, according to a new report by Grand View Research, Inc. The augmenting residential housing sector coupled with rising disposable income is anticipated to bolster the global market growth.

Increasing urban migration coupled with propelling demand for a diversified array of water heaters across the real estate sector is anticipated to drive the market growth in the forthcoming years. In addition, stringent building standards are likely to encourage the adoption of star rated water heaters, thereby augmenting the product demand over the forecast period.

The availability of water heaters with wide-ranging capacity is anticipated to drive the product demand in various end-use industries. Increasing demand for 30 – 100 liters capacity water heaters across small businesses in the residential sector is projected to complement the product demand over the forecast period.

Timely availability of hot water supply coupled with growing need to address the hot water demands at peak hours across various commercial infrastructures is expected to augment the demand for water heaters over the forecast period. Furthermore, competitive and flexible product pricing along with new features and product assortments are likely to drive market growth.

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https://www.grandviewresearch.com/industry-analysis/water-heaters-market

Further key findings from the report suggest:

North America accounted for 21.5% of the revenue share in 2019 on account of elevated refurbishment activities and rising demand for high-efficiency water heaters in the region
The demand for solar water heaters is estimated to witness a CAGR of 4.7%, over the forecast period owing to the growing demand for sustainable and cost-effective water heating technology to decrease the overall electricity consumption
Tankless water heaters accounted for 34.3% of the global revenue share in 2019 on account of the increasing adoption of the product across a wide array of residential and commercial end-user applications
Germany dominated the Europe market by accounting for 20.4% of the revenue share in 2019, owing to the technological advancements coupled with government regulations driving the demand for energy-efficient products
Eminent market players such as A.O. Smith, Bajaj Electricals, Ltd., Rheem Manufacturing Company, and Rinnai Corporation are focusing on product innovation and mergers and acquisitions as their key growth strategies