Tag: Kuwait

Europe MRO Distribution Market Size Worth $222.11 Billion By 2028

The Europe MRO distribution market size is expected to reach USD 222.11 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 1.6% from 2021 to 2028. The rise in scheduled maintenance and increasing investments in repair operations are expected to ascend the market growth over the forecast period.

Prominent European industries have adopted integrated repair, maintenance, and operation service concepts for improvements in the equipment and services in critical operations. Many industrial units adopted this change post-recession period and are likely to continue in the projected time. Therefore, the demand for Maintenance, Repair, & Overhaul (MRO) distribution is expected to remain high.

The untapped markets are benefitted owing to the emergence of e-commerce platforms in the European region, thus the penetration of MRO products in the region has escalated. Moreover, the established players in the region have adopted the strategy of acquiring small-scale players to enhance the market presence.

Major players in the regional market are employing several strategies focusing on digital marketing, pricing, product placement, and communication to improve supply channels and enhance sales operations. These enhanced sales processes and standardized sales tools are anticipated to upscale the MRO industry growth in the upcoming future.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/europe-maintenance-repair-overhaul-mro-distribution-market

Further key findings from the study suggest:

  • The machine consumables product segment accounted for the largest share of 30.2% in 2020 on account of the increasing focus of the end-users on the maintenance and upkeep of critical equipment in order to maintain and enhance their performance and operational lifetime
  • The external MRO service type segment is anticipated to witness the fastest growth from 2021 to 2028 owing to the increasing contracts to third-party MRO service providers by the product manufacturers to increase the geographical operation
  • The preventive/scheduled maintenance type segment accounted for the largest share of 58.8% in 2020 and is projected to witness significant growth over the forecast period owing to its rising adoption in order to reduce the breakdown and maintenance time
  • The machinery and equipment application segment is projected to expand at the fastest CAGR from 2021 to 2028 on account of the growing demand from a diverse range of industry verticals, including construction, automotive, and metalworking
  • Germany accounted for the largest share of 21.8% in 2020 owing to the high adoption of preventive and scheduled MRO among the manufacturers operating in the country

Europe Passive Fire Protection Market Size Worth $1.3 Billion By 2027

The Europe passive fire protection market size is expected to reach USD 1.3 billion by 2027 registering a CAGR of 3.4%, according to a new report by Grand View Research, Inc. Favorable government regulations about structural fire safety and increasing awareness regarding the same are expected to drive market growth. Growing demand for fire-safe buildings has led to increased investments in terms of installation of passive fire protection systems in the construction sector, which will also boost the market growth.

Increasing investments in exploration and production activities by the oil & gas companies have boosted the demand for hydrocarbon in tumescent coatings. Fire protection is an important aspect of the structural steel safety in industries including oil & gas and chemicals as the risks of fire accidents are high owing to the combustion of hydrocarbon fuels.

Growing demand for high-quality passive fire protection products with improved efficiency and reliability along with the popularity of technologies used in their production is pushing manufacturers to continuously engage in innovation. This is driving them to take the necessary steps to maintain and enhance the standards of their products.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/europe-passive-fire-protection-market

Further key findings from the report suggest:

  • The cementitious material segment accounted for the largest revenue share of over 41% of the global market owing to the wide usage of steel structures in infrastructure development projects
  • Construction is expected to be the largest as well as fastest-growing end-use segment over the forecast period owing to the rise in building & construction activities post relaxation of containment measures taken due to the Covid-19 pandemic
  • The industrial end-use segment accounted for the second-largest market share of over 22% in 2019 owing to the rising emphasis on the improvement of fire safety standards across the regional industries
  • Germany accounted for the largest market share in 2019 owing to high demand for passive fire safety products from the industrial, automotive, and construction sectors
  • The market is highly competitive and is characterized by the presence of both global and regional players

North America Building Thermal Insulation Market Worth $13.83 Billion By 2027

The North America building thermal insulation market size is expected to reach USD 13.83 billion by 2027, according to a new report by Grand View Research, Inc. The market is projected to expand at a CAGR of 2.7% in terms of revenue during the forecast period. Rising consumer awareness, demand for thermal insulation materials, and favorable regulations owing to the focus on lowering the overall energy consumption are the factors expected to drive market growth.

The market players focus on increasing its market share through organic growth. The companies indulge in the expansion of their product portfolio by developing cost-effective insulation products with enhanced properties and expanding their manufacturing capabilities to cater to the ascending product demand worldwide.

Numerous local and international players in the market provide raw materials for thermal insulating components. Extensive production facilities and high capital investments result in high volume production of materials by prominent players, which is then used to manufacture insulating components.

The industry exhibits a large number of established players controlling significant market share. These companies develop a robust business model to adapt to market volatility and any technological and geographical change. The players usually maintain a strategic relationship with their suppliers to maintain uninterrupted supply.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/north-america-building-thermal-insulation-market

Further Key Findings from the Report Suggest:

  • Expanded Polystyrene (EPS) is expected to witness the fastest CAGR of 3.1%, from 2020 to 2027, on account of high product penetration owing to the sound absorption, lightweight, and quakeproof nature of the product
  • The walls application segment dominated the market in 2019 and is expected to reach USD 5.58 billion by 2027, owing to the adoption of high-class architecture and maintaining high energy efficient standards by the residential and commercial structures
  • Residential end-use application accounted for 5.88 billion in 2019, on account of growth in the number of single-family houses in developing economies and rising disposable income of the consumers
  • The U.S. dominated the market in 2019 and is expected to reach USD 10.83 billion by 2027, owing to growth in the construction sector and increased demand for energy-efficient construction solutions
  • The major manufacturers emphasize innovation through extensive R&D for the production of advanced insulating materials. Numerous local players are engaged in manufacturing standard components, which results in stiff competition in the market

North America PVC Films Market Size Worth $2.7 Billion By 2027

The North America PVC films market size is anticipated to reach USD 2.7 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 2.6% from 2020 to 2027. The adoption of Polyvinyl Chloride (PVC) films in the packaging of food and beverages is increasing as these films provide a cost-effective and flexible packaging solution to the consumers.

Food and beverage is the most prominent market for the packaging industry. Growth in the population (via immigrations), rise in the working women population, increase in disposable income, and hectic work-life schedules have macro economically boosted the demand for ready-to-eat food products, packaged meals, and outdoor dining.

North America is considered to be one of the major and technologically advanced regional markets for PVC films as compared to other regions, such as the Asia Pacific and Africa. The recent outbreak of COVID-19 has resulted in the slowdown or halt in manufacturing activities, restrictions on supply and transport, and the slowdown of infrastructure projects, which is expected to negatively impact the demand for PVC films in the fourth quarter of 2020.

Building materials are among the prominent end uses of PVC films in North America. The economic growth of the region has driven government spending on construction. Moreover, the rise in annual incomes and urbanization have driven the construction activities of residential buildings. According to the Census Bureau of the U.S., the total value of construction put into place in July 2019 was USD 1,366,042 million. It increased to a value of USD 1,436,727 million in March 2020. However, it declined to USD 1,364,565 million in July 2020 due to the unprecedented outbreak of COVID-19 in the country.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/north-america-polyvinyl-chloride-pvc-films-market

Further key findings from the report suggest:

  • The packaging segment was the largest end-use segment in 2019. PVC-based shrink wraps are used for preventing the products from getting spoiled in retail and shipping environments owing to their inexpensiveness, multi-purpose capabilities, and lightweight properties
  • The rising need for sustainable and durable packaging products is anticipated to drive the demand for PVC films in the food packaging industry
  • By product, monomeric flexible PVC films are expected to expand at a CAGR of 3.1% in terms of revenue from 2020 to 2027. These films are best suited for indoor flat applications and have an outdoor durability of 3-4 years for black and 2-3 years for colored products
  • As of 2019, the U.S. accounted for more than 70.0% share of the regional revenue. Increasing demand for PVC films in the medical applications for manufacturing capsules, tablets, drainage bags, and other medical equipment is assisting the market growth in the country.

Smart Stadium Market Worth $21.00 Billion By 2025

The global smart stadium market size is expected to reach USD 21.00 billion by 2025, expanding at a 20.9% CAGR over the forecast period, according to a study conducted by Grand View Research, Inc. Increasing focus on engaging and entertaining the fans at stadiums, coupled with stringent security regulations framed by sports governing bodies are among the key factors driving the market growth. Additionally, growing demand for data-driven operations and upcoming international and national sports events are anticipated to increase the demand for smart stadiums.

Stadiums across the developing and developed economies are being renovated to offer facilities such as smart parking, fan experience, operational efficiency, enhanced security, and next-generation viewing experience, among others. Smart stadiums include many surveillance solutions, parking solutions, sensors, and digital signs, among other solutions. These solutions deliver real-time information such as in-stadium merchandise pricing, lines at concession stands, and available parking, thus enhancing the fans’ overall experience. Additionally, smart stadiums support green initiatives navigating fans to dispose of waste in dustbins and allowing only disposable items in the stadium.

In 2018, Europe accounted for a majority stake of the smart stadium market, attributed to the high adoption of smart stadium solutions owing to a large number of stadiums across the region. The region has over 1,200 stadiums and has the highest number of professional sports teams and leagues. In 2018, Germany held the majority share in the Europe market.

Asia Pacific, on the other hand, is projected to grow at a considerable CAGR and is anticipated to account for 29.8% of the market revenue in 2025. The strong growth is attributed to the digitalization of sports, increasing penetration of internet and cloud technology, and the emergence of professional leagues in the region. Moreover, sports organizations, including Melbourne Cricket Association, New Zealand Cricket, and Sahara Force India, among others use advanced technologies for hosting tournaments. Singapore, Australia, Japan, India, and China are some of the countries focused on building new smart stadiums and renovating the existing stadiums with improved technology.

Some of the key players operating in the market are Cisco Systems, Inc.; Apple, Inc.; Telefonaktiebolaget LM Ericsson; Fujitsu Ltd.; Fitbit, Inc.; NXP Semiconductors; IBM Corporation; NEC Corporation; Johnson Controls; and Intel Corporation. The market is moderately consolidated owing to the existence of a few solution providers that account for the majority share of the market revenue.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/smart-stadium-market

Further key findings from the report suggest:

  • Software segment is expected to continue leading the smart stadium market over the forecast period owing to increasing focus on fan engagement by providing them better experience. The segment is expected to reach USD 12.97 billion by 2025
  • On premise segment is estimated to dominate the market over the forecast period. The smart stadium comprises of a large number of cameras, digital signs, and sensors, connected to wireless and wired servers and networks
  • Asia Pacific is estimated to expand at a significant CAGR of 23.5% over the forecast period. Emerging countries such as Japan, India, ASEAN, and Australia are swiftly adopting digital technologies in stadiums for enhancing the fan experience and increasing safety and security
  • Prominent market players include IBM Corporation; Intel Corporation; NEC Corporation; Cisco Systems, Inc.; Telefonaktiebolaget LM Ericsson; among others

Smart Ticketing Market Size Worth $33.7 Billion By 2026

The global smart ticketing market size is expected to reach USD 33.7 billion by 2026, registering a CAGR of 14.9% from 2019 to 2026, according to a new report by Grand View Research, Inc. Increase in demand for smart ticketing solutions in the travel and tourism industry owing to its ease of use and convenience, and growing reliance on online transactions are expected to drive the market over the forecast period. In addition, upsurge in intelligent transportation systems across the globe is further fueling the market growth.

Smart transit systems allow passengers affordable access to rapid transit systems, also known as metro or subway. These systems store a ticket electronically on a microchip, which is embedded onto a smart card. This allows passengers to load or credit it in advance for their travel, reducing the time spent in queues and speeding up the boarding process. Public transportation authorities across the globe are emphasizing on implementing these systems to reduce traffic in congested city areas and to deliver solutions that are environment-friendly. Numerous public transportation agencies are promoting the use of these solutions as they are easy to use, reliable, and more secure as compared to traditional magnetic stripe cards or tickets. These solutions are also highly durable and have a longer life span than their traditional paper counterparts.

Continuous innovations take place in this field with the view to improving customer experience. For instance, the South Western Rail in U.K. launched Tap2Go, which removes the need for customers to buy a ticket before their journey. Passengers touch their card at the gates and validators at the start and end of their journey. The system then calculates the best fare and the payment is deducted from their account the day after their travel. It is also linked to PayPal to make transactions easier.

These solutions offer high operational efficiency and increased security against fraud, which, in turn, is expected to contribute to the market growth over the forecast period. Moreover, these solutions require low maintenance compared to systems that use magnetic stripe technology. Furthermore, these smart solutions allow quick payment transactions and offer passengers with flexible travel options such as part-time season passes or carnets. This is subsequently expected to drive the demand for these solutions over the forecast period.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/smart-ticketing-market

Further key findings from the report suggest:

  • The software component segment is expected to witness significant growth over the forecast period owing to increased demand for payment gateways and other connected systems such as cards through servers and smartphones
  • An e-ticket offers various advantages such as flexibility, security, and convenience for both transport agencies and travelers, which would encourage them to adopt these solutions
  • Smart card systems enable transport service providers to reduce cash flows and implement flexible tariffs. These systems provide the added benefit of convenience as the fare payment can easily be made at the customer’s point of entry into the transit system; for example, at the subway gate or before boarding a bus. As a result, smart card systems are widely adopted by transport service providers across the globe
  • The sports and entertainment segment is expected to register the highest growth rate over the forecast period. Increase in adoption of verified e-tickets procured from authentic apps on mobile devices helps lessen fraudulent activities and resale of tickets online or outside an event venue at inflated prices
  • The growth of the Europe market is attributed to the thriving tourism industry, continuous innovations of these systems and their adoption in urban areas, and simplified technology ecosystem in the region. In U.K. for instance, the National Rail has incorporated a range of technologies such as platform and ticket validators at their train stations that enable the use of these systems
  • Smart ticketing market key players include CPI Card Group Inc.; Cubic Corporation; Confidex Ltd.; Gemalto NV; Giesecke & Devrient GmbH; Infineon Technologies AG; and NXP Semiconductors.

Distributed Fiber Optic Sensor Market Size Worth $1.87 Billion By 2025

The global distributed fiber optic sensor market size is anticipated to reach USD 1.87 billion by 2025, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 10.8% from 2019 to 2025. Factors such as significant demand from the civil engineering vertical and rising adoption in the oil and gas sector are projected to substantially boost the market growth. Fiber optics can withstand rough handling, such as in pipes, streams, and reactors, where manual inspection is not feasible. Furthermore, they help in structural health monitoring at dangerous workplaces and can also be used for border security purposes to prevent intrusion. Thus, the capability of Distributed Fiber Optic Sensors (DFOS) to work in challenging environment is another factor propelling the growth.

Increasing demand for sophisticated infrastructure coupled with rising per capita income is predicted to lead to industrial automation, urban mobility, and growth in high-end residential projects. Governments from around the world focus on conserving their existing infrastructure and developing new projects. They are under constant pressure to provide the necessary infrastructure, amenities, and connectivity to people. This has enabled increased spending on road, railway, and dam construction projects. This rapid growth in the advanced civil engineering is expected to boost the distributed fiber optic sensor market.

The rapid adoption of DFOS has encouraged investments in R&D activities by manufacturers and suppliers to launch new products. They are also focusing on optimizing their production process and regulating efficiency to curb all other alternatives of the fiber optics technology. Due to the high price of production and installation processes of DFOS products, the manufacturers are developing competitively priced optic inspection products that are more reliable. However, factors such as technological complexities and other challenges incurring in optical inspection process are hampering the market growth.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/distributed-fiber-optic-sensor-sensing-dfos-market

Further key findings from the report suggest:

  • Temperature sensing application segment is expected to continue leading in terms of market size over the forecast period. Temperature sensors find application in oil and gas and civil engineering segments
  • Suppliers and manufacturers of fiber optic equipment are looking to achieving higher bandwidth, 100 GBPS, by undertaking intense research activities
  • North America dominated the global market in 2018 and is projected to account for the largest market share in terms of revenue in the forthcoming years
  • Growing demand for DFOS equipment can be attributed to the ever-growing demand for efficient and optimized processes, across enterprises and manufacturing sectors
  • Key market participants include Halliburton, Schlumberger Limited, Yokogawa Electric Corporation, OFS Fitel, LLC, Qinetiq Group PLC, Omnisens SA, Brugg Kable AG, Luna Innovations Incorporated, and AP Sensing GmbH

Video Intercom Device Market Size Worth $41.07 Billion By 2025

The global video intercom devices market size is projected to reach USD 41.07 billion by 2025 registering a CAGR of 12.8% from 2019 to 2025, according to a new study conducted by Grand View Research, Inc. Rise in the number of residential and commercial buildings is expected to propel the growth of the video intercom device market over the forecast period. The market is witnessing a significant growth owing to innovations in video streaming, and Session Initiation Protocol (SIP). Video intercoms use the internet for data transfer and are also equipped with cameras that offer high-quality imagery and night vision functionality. This has resulted in high demand for such devices in offices and residential apartments for security purposes.

These devices are suitable for managing the security of commercial buildings as they can be integrated with video surveillance systems, access control systems, and security & building management systems. They are widely deployed in automobiles, which is expected to generate significant demand over the forecast period. These systems feature emergency call queuing, paging, and audiovisual identification of visitors, among others. Moreover, they can remotely unlock doors with electric door strike to let visitors enter the house and can broadcast visitors’ information to multiple stations through a standard master station or mobile device application. Furthermore, the audiovisual communication feature allows a resident to recognize the visitor.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/video-intercom-devices-market

Further Key Findings from the Report Suggest:

  • The door entry systems segment is expected to account for the highest market share in 2025 expanding at the highest CAGR of 13.3% from 2019 to 2025
  • Door entry systems function as either audio or video systems. An audio door entry system allows a user to communicate with the callers and a video system displays an image of the visitor
  • Password access control offers various benefits, such as easy access, convenient access, and higher security, due to which the segment is anticipated to account for the maximum market share
  • The wireless segment is anticipated to register the highest CAGR of 13.5% from 2019 to 2025. Wireless systems use a Wi-Fi network to transmit the signals between other intercom security devices
  • Lower installation and maintenance costs of wireless video intercom systems are expected to fuel the segment growth over the forecast period
  • The IP-based technology segment is anticipated to expand at the highest CAGR of from 2019 to 2025 owing to enhanced video surveillance, communication, and entry control capabilities of these systems
  • North America is expected to be the largest regional video intercom device market over the forecast period due to increasing construction activities of smart homes in the region
  • Key companies are Aiphone Co., Ltd.; Alpha Communications; Comelit Group S.P.A.; Dahua Technology Co., Ltd.; Godrej.Com; Honeywell International, Inc.; Legrand; Panasonic Corp.; Samsung; and Siedle & Sohne OHG

Candle Market Size Worth $6.06 Billion By 2025

The global candle market size is expected to reach USD 6.06 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 8.4% during the forecast period. Increasing popularity of using candles in home décor and ambience creation is expected to fuel the growth. Rapid rise in adoption for residential and commercial applications coupled with the demand for candles for religious purposes is anticipated to further drive market. Service providers such as hotels, restaurants, and beauty and spa use candles to create a warm, cozy, and relaxing ambiance. This factor is projected to further drive the product demand.

Scented candles have been gaining popularity in the recent years among urban millennials from developed countries including U.S., Germany, and France. These scented candles are available in various fragrances including basil, eucalyptus, jasmine, lavender, lemon, orange, rosemary, and vanilla among many others. Each of these fragrances are situation specific and have unique health benefits. For instance, basil helps create a positively alert mental state. It helps ensure better concentration and is found to be beneficial for nervous system stimulation, migraine relief, and improved digestion. Similarly, eucalyptus is found beneficial for the treatment of various diseases including asthma, sinusitis, bronchitis, cough, pneumonia, rheumatism, and arthritis.

In April 2019, Yankee Candle Company, launched a Sunday Brunch Candle collection. These products are available in jars under the brand names, Easter Basket and Rainbow Shake. These products will be launched in seven different fragrances including Grilled Peaches, Vanilla, Honey Lavender Gelato, Strawberry Bellini, Belgian Waffles, Blush Bouquet, and Sweet Morning Rose. Louis Vuitton, the French fashion house and luxury retailer, launched a line of scented candles in October, 2018. It will comprise of four scented candles including L’Air du Jardin, Île Blanche, Feuilles d’Or, and Dehors Il Neige.

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

Further key findings from the report suggest:

  • Votives product forms accounted for more than 25% of the global revenue in 2018
  • Pillar candles is expected to witness the fastest CAGR of 9.0% from 2019 to 2025
  • Online segment is expected to register the fastest CAGR of 8.7% over the forecast period
  • Paraffin products accounted for more than 30% of the global market share in terms of revenue in 2018
  • Key players operating in the candle market are Yankee Candles, White Barn Candles, Village Candles, Thymes, Slatkin & Co, NEST, Malin + Goetz, Jo Malone, Diptyque, Colonial Candle, Circle E Candles, Bridgewater Candles, Better Homes and Garden, and Bath & Body Works

Aftershave Lotions & Creams Market Size Worth $2.2 Billion By 2025

The global aftershave lotions and creams market size is anticipated to reach USD 2.2 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.4% over the forecast period. Product innovations such as introduction of aftershave lotion with natural and organic ingredients is a key factor driving this market.

Every consumer wants multifunctional products that will help in nourishing skin and soothing irritation. The companies are reducing alcohol concentration and are adding natural ingredients such as caffeine, plant extract, and essential oil that help in reducing irritation and provide moisturizing effect. Similarly, some companies are offering multifunctional products such as antiaging technology, which helps in reducing wrinkles and promoting texture. Increasing product availability of technological advanced products is fueling demand for post shave lotions and creams.

Lotions and balm held a leading share of 67.2% in 2018. Increasing penetration of innovative products in developed countries such as India, China, and Brazil is a main factor driving this segment. Moreover, urge to look good and confident has led to an increase in spending on male grooming products. According to statistics, Indian men spend around 40 minutes on grooming. An average man spends around 12 minutes grooming his face, 14 minutes on hair, and 16 minutes on body. Rising awareness regarding grooming and hygiene is expected to have a positive impact on growth of the market.

The e-commerce segment is anticipated to expand at the fastest CAGR of 5.4% over the forecast period. Increasing penetration of smartphone, exposure to digital media, and growing middle class population are expected to have a positive impact on the sales of post shave products through online channel. Expansion of pureplay giants such as Amazon and Nykaa in India and China and incorporation of same day delivery system by these players are expected to fuel purchase of aftershave lotions and balm through the online channel.

Asia Pacific is projected to witness the fastest growth over the forecast period due to rising popularity of male grooming products, especially in countries like India and China. The e-commerce market is booming in the region, which is attributed rising urbanization and internet penetration. Owing to growing popularity of male grooming products, companies are foraying into partnership with e-commerce players such as Amazon. These major trends are anticipated to boost the regional aftershave lotions and creams market growth.

Key players operating in the market include Procter & Gamble; Unilever; Beiersdorf; Godrej Consumer Products Limited; L’Oréal; Colgate-Palmolive Company; Coty Inc.; D.R. Harris & Co Ltd.; Vi-john Group; and Herbacin cosmetic GmbH.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/aftershave-lotions-creams-market

Further key findings from the report suggest:

  • North America is anticipated to witness significant growth from 2019 to 2025 owing to shifting consumer preference from conventional towards modern lifestyle
  • The e-commerce segment in India was valued at USD 0.2 million in 2018 due to rise in popularity of male grooming products among consumers
  • Asia Pacific is anticipated to expand at the highest CAGR of 6.5% over the forecast period
  • The global aftershave lotions and creams market is highly competitive in nature due to presence of top players such as Procter & Gamble and Unilever.