Tag: Construction

Advanced Composites Market Size Worth $41.20 Billion By 2024

The global advanced composites market size is expected to reach USD 41.20 billion by 2024, according to a new report by Grand View Research, Inc. The industry is anticipated to grow, primarily on account of superior benefits such as reduced weight, fuel efficiency and higher strength offered by the materials.

Rising demand for specialty products that comply with U.S. Leadership in Energy and Environmental design (LEED) standards is expected to propel the demand in construction segment Technological innovations aimed at the development of cost-effective manufacturing processes are expected to drive demand.

The market for advanced composites is characterized by the presence of a large number of regulations. The production process of composite materials is heavily regulated on account of critical nature of their usage. In addition, the usage of such materials is also subject to various regulations related to the strength and performance characteristics, which is likely to affect the growth.

Increasing adoption of composites by the automotive industry coupled with reduced raw material prices, is projected to drive the industry growth over the forecast period. Manufacturing companies are shifting their focus towards the developing economies in regions such as Asia Pacific and Central & South America (CSA), on account superior economies of scale.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/advanced-composites-market

Further key findings from the report suggest:

  • Carbon is expected to be the fastest-growing segment, in terms of volume, registering a CAGR of 11.9% from 2015 to 2024 owing to its extensive usage in the production of aircraft components such as wings, fuselage, cockpit, and tail surfaces.
  • The use of s-glass based composites in the construction industry is expected to reach a market revenue of USD 2.52 billion by 2024 on account of the superior stress resistance of the product coupled with longer operational lifetime
  • The use of aramid fibers for aerospace and defense application is expected to register a CAGR of 5.8% over the forecast period owing to heightened demand for low weight, high-strength materials for aircraft production.
  • Key manufacturers operating in the industry lay extensive focus on the production and development of high strength materials for specific applications in a bid to increase the market share.

U.S. Heating Equipment Market Size Worth $4.98 Billion By 2025

The U.S. heating equipment market size is anticipated to reach USD 4.98 billion by 2025, conferring to a new report by Grand View Research, Inc. Growing demand for energy efficient heating equipment and favorable government initiatives is projected to augment market demand over the coming years. The heat pumps segment occupied the largest share in 2015 on account of its increasing preference in the industrial and commercial sector. Heat pumps are very efficient in converting energy to heat at low operational cost.

Boilers and furnaces are extensively used heating system in the residential sector. Electric furnaces are gaining wide preference as they require less maintenance, are one of the least expensive, and are free from harmful emissions. Boilers are further categorized on the basis of product, size, and technology.

The growth of housing and construction sector for single and multi-unit dwelling is expected to boost the demand for over the coming years. The sluggish oil & gas prices have further facilitated the wide application of heating equipment in the U.S. industrial and residential segment

Favorable federal and state policies in the U.S. is projected to further drive the demand. Installing energy efficient heating system qualifies residential buyers to claim 10% of the cost of labor, professional preparation, and cost of installation. Rising awareness of greenhouse emissions has led to replacement of old heating equipment by new energy efficient solutions thereby facilitating the U.S. heating equipment market growth.

Click the link below:
http://www.grandviewresearch.com/industry-analysis/us-heating-equipment-market

Further key findings from the report suggest:

  • Heat pumps segment accounted for 33% of the market revenue in 2015
  • Heat pumps are used for temperatures with moderate heating and cooling requirements, thereby finds increased application in residential segment
  • Easy credit accessibility or financial support is anticipated to spur consumer spending on renovation and remodeling activities, which, in turn, will benefit the heating equipment market
  • Steam boilers accounted for the largest market share in 2015
  • ECO-Labelling of heating equipment is used to encourage and guide customers in their choice of products
  • The emergence of climate and energy as a political priority has spurred an increased interest in heating and energy efficiency gains to be realized within buildings
  • Key market players include Robert Bosch LLC, United Technologies Corporation, Emerson Electric, Ingersoll-Rand Plc, and Lennox International, American Heating Company Inc., Johnson Controls Inc., Honeywell International Inc., Burnham Holdings, Inc., and Rheem Manufacturing Company Inc.