Construction Equipment Market Size Worth $173.0 Billion By 2027

The global construction equipment market size is expected to reach USD 173.0 billion by 2027, expanding at a CAGR of 4.3% over the forecast period, according to a new report by Grand View Research, Inc. Rising construction activities, technological development, automation, and increased importance for incorporating safety features are expected to drive the market. The prominent manufacturers have an increased focus on product development and have identified it as the key strategy to achieve sustainable market progress. The companies have recognized the market shift toward electric mobility and a sustainable future. For instance, in December 2019, Hitachi Construction Machinery Co., Ltd. announced the development of a battery-powered mini excavator.

The demand had earlier witnessed a slowdown owing to sluggish growth of the construction industry and economic conditions. However, the market is expected to grow at a steady growth rate in the upcoming years. The prominent factors contributing to the market growth are growing residential, commercial, and industrial construction activities and increasing private-public partnerships. Customers now prefer renting the equipment rather than spending money on buying them, thus helping them save investments on procurement and maintenance of the equipment. Many companies are entering in the equipment rental business owing to its high profitability. However, in terms of large-scale projects that are time-intensive, the purchase of machinery proves beneficial.

The earthmoving machinery segment accounted for the highest market share of around 64% in 2019. Increasing demand for this equipment from developing countries is driving the growth of this segment. China is considered as a leader in the earthmoving machinery segment. The country faced weak economic conditions in 2019, thus the government actively implemented measures such as tax cuts and boosted the funding for infrastructure activities. These factors acted favorably in securing the market demand for various types of equipment. However, the recent coronavirus outbreak is projected to hamper the growth prospects owing to slow down in production and supply chain problems.

The North American construction equipment market is anticipated to perform positively in 2020, owing to the U.S. government’s keen focus on enhancing the transportation infrastructure. According to the American Road & Transportation Builders Association (ARTBA), the construction activity for parking lots, private highways, driveways, and bridges is estimated to reach a value of approximately USD 72 billion in 2020 and is projected to grow over the next five years. Thus, the development in construction activities is anticipated to drive the market growth in U.S. over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/construction-equipment-market-analysis

Further key findings from the report suggest:

Earth moving machinery emerged as the largest product segment in 2019 and is anticipated to reach more than USD 104.0 billion by 2027
The concrete and road construction machinery segment is expected to register a CAGR of 6.2% over the forecast period
The Asia Pacific region dominated the market in 2019 and is anticipated to expand at a CAGR of 4.9% over the forecast period
The market is highly competitive and relatively concentrated, with the top five companies dominating the market share
The top five key players in the construction equipment market are Caterpillar Inc.; Komatsu; Hitachi Construction Machinery; Liebherr; and Volvo construction equipment

HVAC Systems Market Size Worth $208.6 Billion By 2027

The global HVAC systems market size is anticipated to reach USD 208.6 billion by 2027, according to a new study by Grand View Research Inc., registering a CAGR of 6.1% over the forecast period. Growing commercial sector and rapid urbanization across the globe are driving the demand for HVAC equipment. Furthermore, incentives and rebate programs offered by various governments to promote the use of energy-efficient units is anticipated to drive the market growth.

Moreover, HVAC systems are being integrated with next-generation technologies, such as IoT sensors, remote control systems, and hybrid HVAC units, to increase efficiency and reduce energy consumption. This is also anticipated to support the global market expansion over the forecast period. On the other hand, high installation and maintenance costs, coupled with complexity of retrofit HVAC installations, may hinder the market growth. However, many prominent manufacturers are investing in R&D to develop cost- and energy-efficient units, which will fuel the product demand. For instance, a California-based company developed an ice-powered air conditioner. The new system reduces the energy consumption of the building by freezing a significant amount of water overnight and offers six hours of cooling the next day.

Several residential complexes and businesses are replacing old HVAC systems with new energy-efficient units for higher performance, energy savings, and cost reduction. Moreover, remodeling or new construction of residential, commercial, or industrial buildings require HVAC systems, which is another factor driving the market growth.

Asia Pacific dominated the global market in 2019. This growth is attributed to the rising disposable income and awareness regarding energy-efficient products. Furthermore, the growing real estate sector across the region as a result of increasing population will have a positive impact on product demand. The emergence of smart buildings and government initiatives promoting the use of energy- and cost-efficient systems are also expected to boost the regional market growth.

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https://www.grandviewresearch.com/industry-analysis/hvac-equipment-industry

Further key findings from the report suggest:

Cooling systems dominated the global market in 2019 and this trend is expected to continue through the forecast period owing to the rising demand from the residential and commercial sectors
The residential segment emerged as the leading product segment in 2019 owing to growth of the real estate sector in developing regions
Asia Pacific dominated the global market in 2019, driven by Japan and China, which collectively contributed to more than 50.0% of the total sales in the region. This can be attributed to the high populace, rising disposable income, and improved real estate market
Leading companies and several governments across the globe are promoting HVAC systems through endorsement labels such as ENERGY STAR for energy efficiency and incentive programs, which will boost the market growth
Some of the top companies in this HVAC systems market are LG Electronics, Inc.; Lennox International, Inc.; Carrier Corporation; Samsung Electronics Co. Ltd.; United Technologies Corporation; Johnson Controls International PLC; and Daikin Industries Ltd.

Oil Free Air Compressors Market Size Worth $15.56 Billion By 2025

The global oil free air compressors market size is expected to reach USD 15.56 billion by 2025, registering a CAGR of 4.8% over the forecast period, according to a study conducted by Grand View Research, Inc. Low maintenance costs, retrofitting of existing systems, efficient operation at lower costs, and rising adoption of variable-speed compressors are some of the key factors driving the market over the forecast period. The products find application in several industries, such as petroleum, electrical power, chemical, and manufacturing. A gradual shift from the traditional manufacturing techniques to economical methods is a major trend in these industries, which helps boost demand for such compressors for optimal energy distribution purposes.

For instance, the government of China has announced strict regulations for environment fortification, which have ultimately increased the demand for energy-efficient products in the country. Oil-free products provide reliability and ease of operation owing to enhanced product performance. Therefore, they are widely used in the construction and mining activities. High transport mobility offered by these products is also projected to spur their demand across several end-use industries, such as oil & gas. Furthermore, involvement of less degradable parts coupled with low maintenance costs will fuel the global demand over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/oil-free-air-compressors-market

Further key findings from the study suggest:

The portable compressors captured the major market share in 2018 and will maintain the dominance in future on account of their high durability and light weight
Centrifugal products are expected to witness a rapid growth over the forecast period due to their ability to reduce carbon footprint by ensuring clean and uninterrupted air supply
Increasing adoption of compressors with a 2 to 55 kW power rating in the end-use industries is a key factor that positively affecting the growth of the segment over the forecast period
Manufacturing segment held more than 30% of the global share in 2018. However, the home appliances segment is anticipated to register the highest CAGR owing to higher product demand
Asia Pacific is expected to emerge as the largest and fastest-growing segment over the forecast period due to rising need to increase the power generation capacities
Key companies in the global oil free air compressors market include Gardner Denver, Atlas Copco, Ingersoll-Rand PLC, General Electric, and Bauer Group. Most of them are focusing on developing low-maintenance and eco-friendly products to maintain their industry position

Europe Industrial Air Filtration Market Size Worth $4.61 Billion By 2027

The Europe industrial air filtration market size is expected to reach USD 4.61 billion by 2027, expanding at a CAGR of 6.5% from 2020 to 2027, according to a study conducted by Grand View Research, Inc. Stringent government regulations, intense competition among key players, technological advancements, and the development of cost-effective filtration solutions is expected to positively impact the growth. Furthermore, factors such as increased investments in industrial applications, stricter environmental constraints along with environment awareness are also anticipated to fuel the market growth.

The market is expected to witness significant growth on account of stringent government regulations in the European Union (EU). The market for industrial air filtration in Europe is expected to be primarily driven by the enforcement of occupational health and safety regulations. Favorable government regulations create and drive the demand for products that help limit emissions. The Directive on Integrated Pollution Prevention and Control (IPPC) along with several sectoral directives on large combustions plants set emission limit values (ELVs) designed to deliver reductions in anthropogenic emissions to air from industrial sources. Furthermore, the formulation of EN 779:2011, a European standard for particulate air filters is also expected to fuel the demand over the forecast period. The new standard will help eliminate several issues related to synthetic filters and filter performance.

Financial drivers may also play a key role in incentivizing end users to enhance manufacturing performance and reduce costs. The key requirement of the IPPC Directive is the application of Best Available Techniques (BAT). The main objective of this policy is to stimulate the diffusion of several advanced environmental technologies across diverse industries. This objective is achieved through the BREF process that defines techniques as being BAT and at the same time outlines BAT emission levels for use across the EU.

Surging demand for products that deliver high-performance and improved efficiency, while at the same time reduce energy consumption, is also expected to favorably impact the regional growth over the forecast period. High efficiency is a key requirement for any industrial air filtration system. Additionally, filter media performance is also crucial in any industrial air filtration system, and therefore, manufacturers emphasize on developing more efficient solutions without compromising on other filtration requirements.

The emergence of new raw materials including, small fibers coupled with advancements in the non-woven technology is expected to offer avenues for the market growth over the forecast period. Owing to this, manufacturers are taking R&D initiatives to innovate in the field of nanotechnology and small fibers. However, high cost of materials is expected to hinder the market growth.

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https://www.grandviewresearch.com/industry-analysis/europe-industrial-air-filtration-market

Further key findings from the report suggest:

HEPA filters are projected to expand at a CAGR of over 7.2% over the forecast period. This upsurge is attributed to its technical benefits such as greater machine availability and reliability, maintenance of high initial power output, improved efficiency, increased component life, zero production downtime, and lower emissions
Oil mist collectors are also expected to exhibit significant penetration and growth over the next few years. This can be attributed to increasing applications across the food and beverage and metal processing industry. Their ability to eliminate any air-borne contaminants and improving the food quality as well as safety is also expected to power the segment growth
Food end-use segment is expected to expand at a CAGR of over 8% from 202 to 2027. Stringent sanitary regulations, cross contamination, and/or food handling regulations, are some of the factors expected to favourably impact the growth

Facade Market Size Worth $342.94 Billion By 2025

The global facade market size is anticipated to reach USD 342.94 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 7.6% during the forecast period. The market is estimated to register healthy growth over the forecast period owing to development of advanced materials with capabilities that offer safety as well as visually appealing texture.

This exterior building face carry the attribute of both appearance and superior performance in a mode, unlike any other building system, which is expected to fuel the demand for the product over the next few years. Soaring need to lower heating & air-conditioning cost and achieve energy-efficiency is slated to stir up the demand for facades over the coming years. Growing focus on development of sustainable products is likely to work in favor of the market.

Burgeoning popularity of green buildings and surging demand for high-transparency glasses that allow passage of light, while maintaining heat-resistance, are poised to shape the future of the market. The market is projected to witness the application for high-performance and energy-saving solar control facades, which will contribute towards higher economic benefits and eco-sustainability.

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

Further key findings from the study suggest:

The facades market was valued at USD 205.89 billion in 2018. Expanding construction industry in developing countries is bolstering the growth of the market
The ventilated facades market is anticipated to experience a CAGR of 8.4% over the forecast period, owing to merits offered by them in terms of energy saving and rich aesthetics
Various government initiatives towards infrastructure development and rise in PPP model are encouraging construction of commercial properties across the globe, which is subsequently propelling the facades market
The commercial end-use segment was the leading revenue contributor in 2018, owing to numerous advantages offered by these systems, such as natural ventilation, acoustic insulation, and thermal insulation
Asia Pacific led the market with a little over 37.0% revenue share in 2018, owing to growing construction of new commercial and industrial buildings in China, India, and Southeast Asia

Livestock Farm Equipment Market Size Worth $19.3 Billion By 2027

The global livestock farm equipment market size is expected to reach USD 19.3 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 3.4% over the forecast period. Aggressive investments being made by farm owners to automate dairy and poultry farms are expected to drive the market over the forecast period. Increasing spending on agricultural equipment across the globe also bodes well for market growth. Market players are expected to introduce innovative livestock farm equipment based on the latest technologies, such as IoT and artificial intelligence, thereby contributing to market growth.

Domesticated animal farming is gaining traction in line with the growing population and the changing food habits of individuals. The growing consumption of meat among individuals is particularly driving domesticated animal farming and hence the demand for the tools. At the same time, the increasing consumption of milk, which is encouraging cattle farming, and the rising consumption of eggs, which is encouraging poultry farming, also bodes well for the growth of the market over the forecast period. The demand for tools used in domesticated animal farming is growing as the owners are increasingly opting for such tools to increase the yield and augment revenues and to protect their domesticated animals from diseases by maintaining cleanliness and better hygiene.

The equipment can potentially reduce the costs associated with feeding, cleaning, and monitoring the animals. The owners opt for different equipment depending upon the type of domesticated animals they are farming. For instance, electric cages are used for poultry animals, such as hens, and ducks. Electric cages can ensure proper shelter for poultry animals while reducing the space occupied. The growing preference for electric cages for poultry farming is expected to drive the growth of the market over the forecast period. The owners are also opting for dedicated tools for feeding and monitoring their domesticated animals.

However, the high costs associated with the tools are anticipated to challenge market growth as the owners would deliberate before investing in such equipment. The costs associated with regular maintenance are also expected to restrain the market growth. The outbreak of the COVID-19 pandemic is equally expected to impede market growth in the short term as lockdowns in various parts of the world have disrupted the supply chains and have hampered the equipment production. Nevertheless, the demand for the tools is poised for stable growth in the long term as more and more farm owners opt for automation to overcome the looming workforce shortage.

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https://www.grandviewresearch.com/industry-analysis/livestock-farm-equipment-market

Further key findings from the study suggest:

The feed equipment segment is projected to witness significant growth over the forecast period as farm owners look for efficient means to feed the domesticated animals
The housing equipment is expected to account for a substantial share of the market over the forecast period as housing or shelters continue being farm owners’ essential requirement to accommodate domesticated animals
The poultry farm segment is expected to register the highest CAGR and control a considerable share of the market over the forecast period in line with the rising consumption of eggs and poultry meat across the globe
Asia Pacific held the largest market share of more than 30.0% in 2019 and is expected to continue dominating the market over the forecast period as the region is home to significant market players
Market incumbents are continuously improvising their product portfolio and catering to all the requirements associated with domesticated animal farming. The market is highly fragmented due to the presence of regional players.

Sand Blasting Machines Market Size Worth $441.1 Million by 2020

The global sand blasting machines market is expected to reach USD 441.1 million by 2020, according to a new study by Grand View Research, Inc. Breakthroughs in robotic sand blasting technology as a result of investments by key industry participants is expected to drive the market over the forecast period. Increased demand from end-use industries such as construction, automotive, and aerospace is expected to favorably impact market growth.

Shot blasting machines have replaced sand blasting machines in several applications to alleviate the risk of lung diseases caused due to inhalation of silica, which may pose a challenge to market growth. Governments of many countries such as the U.S., UK and Turkey have restricted the use of blast cleaning abrasives containing more than 0.1% free silica, which may hamper demand over the next six years.

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http://www.grandviewresearch.com/industry-analysis/sand-blasting-machines-market

Further key findings from the study suggest:

Global sand blasting machines market shipments were estimated at 86,018 units in 2013, which is expected to reach 121,845 units by 2020, growing at a CAGR of 5.1% from 2014 to 2020.
Industrial sand blasting machines accounted for over 80% of the market revenue in 2013. The mini sand blasting machines market is expected to gain prominence over the next six years as sandblasting has substituted numerous domestic tasks such as paint and rust removal.
Sand blasting machines market demand is expected to be the highest in Asia Pacific owing to extensive use in construction, automotive, and infrastructure sectors coupled with significant contribution by the Chinese market to global volume and revenue generation. Demand for mini sand blasting machines is higher in North America, where they are used for automotive as well as home improvement applications.
The market is extremely fragmented in nature; Clemco Industries Corp. emerged as the leading market player in 2013. The company sells blasting machines under four distinct brands, each catering to a specific application area, and also develops equipment targeted at operator safety. Other market players include Trinity Tool Company, Tools USA, C.M. Surface, and ACE.

Construction Equipment Market Size Worth $173.0 Billion By 2027

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https://www.grandviewresearch.com/industry-analysis/construction-equipment-market-analysis

Further key findings from the report suggest:

Earth moving machinery emerged as the largest product segment in 2019 and is anticipated to reach more than USD 104.0 billion by 2027
The concrete and road construction machinery segment is expected to register a CAGR of 6.2% over the forecast period
The Asia Pacific region dominated the market in 2019 and is anticipated to expand at a CAGR of 4.9% over the forecast period
The market is highly competitive and relatively concentrated, with the top five companies dominating the market share
The top five key players in the construction equipment market are Caterpillar Inc.; Komatsu; Hitachi Construction Machinery; Liebherr; and Volvo construction equipment

Brazed Plate Heat Exchangers Market Size Worth $1.4 Billion By 2025

The global brazed plate heat exchangers market size is anticipated to be valued at USD 1.4 billion by 2025, accelerating at a CAGR of 7.5% over the forecast period, according to a new report by Grand View Research, Inc. Rising urbanization and infrastructure developments have resulted in an increased demand for heat management systems. As a result, the demand for this market is likely to boost over the forecast period.

The small footprint of brazed plate heat exchangers has resulted in their high adoption rate in industries including HVAC, chemical, petrochemical, oil & gas, power generation, and pharmaceuticals. These exchangers offer low maintenance cost and are energy efficient. Increasing demand for energy-saving products is expected to further boost the market growth over the forecast period.

Single circuit segment was valued at USD 298.3 million in 2018 and it is expected to reach USD 470.8 million by 2025. Single circuit brazed plate heat exchangers are used for water heating applications and are highly utilized for the construction of heat pumps. Multi-circuit was the dominant segment in 2018, valued at USD 560.8 million, and it is expected to reach USD 950.0 million over the forecast period. Multi-circuit brazed plate heat exchangers are majorly used in industries with high production levels.

HVAC application segment was valued at USD 209.1 million in 2018 and is expected to be valued at USD 377.1 million over the forecast period. Brazed plate heat exchangers are highly adopted by the HVAC industry owing to their small footprint and energy efficiency. Increasing construction of residential and commercial buildings has resulted in an increased demand for HVAC systems, which, in turn, has triggered the product demand.

The U.S. is expected to be the largest market by 2025 owing to an increase in the construction of residential and commercial buildings and increasing establishment of industries. Germany is expected to be the second-largest market over the forecast period owing to high rate of infrastructural development. Increasing investments in infrastructure development in Asia Pacific region are expected to boost market growth in the region over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/brazed-plate-heat-exchangers-market

Further key findings from the report suggest:

The U.S. market, in terms of revenue, is projected to progress at a rate of 8.5% over the forecast period
German market was valued at USD 113.3 million in 2018 and is expected to reach USD 188.3 million over the forecast period
Industrial application segment was valued at USD 219.5 million in 2018 and it is expected to reach USD 336.8 million by 2025 with the increasing product demand in this segment
As of 2018, India was among the largest markets in Asia Pacific and is expected to reach USD 125.8 million over the forecast period.

Smart Homes Market Size To Reach USD 47.61 Billion By 2020

The global smart homes market is expected to reach USD 47.61 billion by 2020, according to a new study by Grand View Research, Inc. Emphasis on reduced carbon emission and energy conservation are expected to be the key driving forces for the market over the forecast period. Favorable regulatory initiatives for implementing smart homes owing to their energy efficiency characteristics are further expected to positively impact the global market over the next six years.

Increased aging population, which comprises a majority of end-users of this technology, is also expected to boost market growth. Introduction of smart grids, increased personal income in developing economies, assistance of power line communication, and growth of consumer electronics industry are factors expected to favorably impact market growth. Need for standardization, skilled labor and high initial cost due to the incorporation of advanced technologies such as IP and Bluetooth may pose a challenge to industry growth.

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http://www.grandviewresearch.com/industry-analysis/Smart-Homes-Industry

Further key findings from the study suggest:

Security applications dominated the global market and accounted for over 20% of the overall market share in 2013. This is primarily owing to techniques such as security cameras, window sensor alarms and burglar alarms which notify users of a possible security breach. Energy management segment is expected to witness the fastest growth on account of growing awareness regarding energy efficiency coupled with the support of regulatory bodies for development of a smart grid and installation of smart electricity, water, and gas meters.
North America is expected to remain the market leader over the forecast period, and accounted for 41.3% of the global market revenue in 2013. The market in Europe is expected to grow at a CAGR of 21.3% from 2014 to 2020, owing to growing adoption of smart home systems.
Key industry participants include ABB Ltd., Siemens AG, Crestron Electronics, Inc., Honeywell, Emerson Electric Co., Schneider Electric S.A., Legrand S.A., Lutron Electronics, Inc., Ingersoll-Rand PLC, Tyco International Ltd., AMX and Control4 Corporation.