Hydrogen Peroxide Market Size Worth $2.15 Billion By 2027

The global hydrogen peroxide market size is projected to reach USD 2.15 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.7% from 2020 to 2027. Rising demand for the product from the global healthcare sector to formulate sanitizers and other disinfectant products is projected to remain the key factor driving the industry.

One of the key factors behind the increasing consumption of the product in the healthcare sector across the globe is the recent outbreak of coronavirus. Demand for hand sanitizers and multiple indoor as well as outdoor disinfectant products, such as floor cleaners and metal disinfectant goods, has quadrupled across all major economies as well as in emerging economies of the world. According to governments worldwide, cleaning of the public spaces, such as public restrooms, airports, bus and metro stations, and commercial spaces, has been made mandatory to curb the spread of the virus. This has led to surge in the consumption of hydrogen peroxide in the industry globally due to its excellent disinfecting properties.

The product also witnessed high demand from various personal care products and cosmetic manufacturers, majorly due to its oxidizing abilities and antimicrobial properties. Europe has evolved as a hub for multinational personal care item producers, such as Loreal, Unilever, Procter & Gamble, and Deutschland GmbH, with their presence across the European marketspace including countries, such as France, U.K., Italy, Germany, and Spain.

In terms of the consumption in the textile sector, Asia Pacific, followed by Europe, has been leading the global market due to increased penetration of fabric manufacturers and detergent formulators. The substance finds key application in the sector as a fabric whitening agent as well as disinfecting agent, which is used after apparel cleaning. Growing awareness among the consumers to adapt to cleanliness is projected to remain a key factor behind industry growth across these regions.

Moreover, Asia Pacific is emerging as a key market for food and beverage process from a global standpoint due to increasing consumption of processed food by the natives of China, Indonesia, South Korea, India, and Japan. Demand for the product in packaging food applications due to its ability to prevent antimicrobial contamination is predicted to be a key boost to the substance’s demand in the food and beverage sector.

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https://www.grandviewresearch.com/industry-analysis/hydrogen-peroxide-market

Further key findings from the study suggest:

The oxidant function segment is expected to expand at a CAGR of 4.4%, in terms of volume, from 2020 to 2027 due to increasing demand from the chemical synthesis industry
The personal care application segment is expected to register a CAGR of 5.7%, in terms of volume, from 2020 to 2027 due to increasing consumption of the product as an additive due its favorable physical properties
Asia Pacific is expected to register the fastest CAGR, in terms of revenue, from 2020 to 2027 owing to presence of a large number of end-use industries in China, India, Vietnam, and Indonesia
Companies such as Solvay, Evonik Industries, and Arkema are the market leaders with their worldwide brand presence, catering to an array of industries, such as textile producers and essential healthcare formulators
The market is concentrated with multinational brands present globally and established long-term relations with key end-user groups, thereby limiting entry of new industry participants.

Military Personal Protective Equipment Market Worth $28.33 Billion By 2027

The global military personal protective equipment market size is expected to reach USD 28.33 billion by 2027, registering a CAGR of 11.3% during the forecast period, according to a new report by Grand View Research, Inc. Rising focus of defense agencies to ensure soldier survivability is projected to drive the demand for personal protective equipment (PPE) in armed forces.

U.S., France, China, India, and Saudi Arabia were the major spenders on protective equipment for armed forces and accounted for around 60% of the global military spending in 2019. Increased spending on military activities by various governments coupled with a rising number of military recruits is anticipated to boost the demand for PPE over the forecast period.

PPE has become the crucial element in soldier safety. Military personal protective equipment are used to provide protection from severe damage caused due to interaction with physical, radiological, chemical, mechanical, electrical, or any bio-hazard. Growing awareness pertaining to security and safety of military personnel is projected to drive demand.

The military PPE market is exhibiting high demand for innovative products. Increasing R&D activity pertaining to military wearables to improve their strength, efficiency, and flexibility is projected to boost the market. For instance, usage of nanotechnology materials to produce flexible and lightweight armors is one of the trends that benefitting the market expansion.

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https://www.grandviewresearch.com/industry-analysis/military-personal-protective-equipment-market

Further key findings from the report suggest:

Body armor segment dominated the market and accounted for 20.7% of the total demand in 2019 on account of growing demand for ballistic protection suits and rise in asymmetric warfare in various countries
Army as an end-use segment is anticipated to advance at a CAGR of 11.5% over the forecast period on account of growing emphasis on enhancing need for protective equipment for armed forces
North America emerged as the largest market for military personal protective equipment and accounted for 35.8% of the total demand in 2019 owing to higher military spending in countries including U.S. and Canada in the region
Asia Pacific is expected to witness the fastest growth over the forecast period owing to increasing instances of warfare and border disputes in countries such as India, China, and Pakistan
Majority of manufacturers are engaged in offering products by implementing the most innovative and state-of-the-art technologies to ensure optimum comfort, durability, and protection to armed forces

Medical Device Validation & Verification Market Worth $1.1 Billion By 2027

The global medical device validation and verification market size is expected to reach USD 1.1 billion by 2027, expanding at a CAGR of 11.1% over the forecast period, according to a new report by Grand View Research, Inc.

Increase in demand for advanced and quality medical products and rising complexity with respect to product designing and engineering are anticipated to boost market growth. Rapid innovations in healthcare have increased the need for companies to incorporate new technologies and software applications in their products to meet the demand for validation and verification. Increase in product complexity, availability of newer types of material, and high risk of product failures are some of the key factors increasing the need for validation and verification services.

North America dominated the global medical device validation and verification market, accounting for 44.88% share of the overall revenue in 2019. Rapid growth in manufacturing of medical devices to meet high demand for efficient healthcare services, including validation and verification, is one of the major factors contributing to the regional market growth. In addition, stringent regulatory environment in U.S. is fueling market growth in the region.

Asia Pacific is anticipated to expand at a CAGR of 12.1% during the forecast period. This can be attributed to increased opportunities for players, especially in Japan, China, and India, improved regulatory framework, and increase in the number of medical devices companies.

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https://www.grandviewresearch.com/industry-analysis/medical-device-verification-validation-market

Further key findings from the study suggest:

Based on therapeutic area, oncology held the largest market share in 2019 and is expected to witness lucrative growth during the forecast period due to increasing prevalence of cancer worldwide
On the basis of application, the diagnostic segment held the largest share of 44.16% in 2019 due to increasing demand for diagnostic technology in healthcare to identify the cause of disease
The therapeutic application segment is projected to register the fastest growth during the forecast period due to rising prevalence of chronic diseases
North America dominated the medical device validation and verification market and accounted for a share of 44.88% in 2019. This is attributed to rapid growth in manufacturing of medical devices to meet high demand for efficient healthcare services, including validation and verification
Asia Pacific is anticipated to expand at a CAGR of 12.1% during the forecast period. This can be attributed to increased opportunities for players, especially in Japan, China, and India, and improved regulatory framework.

Electronic Contract Manufacturing & Design Services Market Worth $788.9 Billion By 2027

The global electronic contract manufacturing and design services market size is expected to reach USD 788.9 billion by 2027, registering a CAGR of 8.5% over the forecast period, according to a new study by Grand View Research, Inc. The electronics industry is highly competitive in nature owing to the increasing complexity of electronic products and rising pressure on OEMs for reducing costs. Moreover, decreased product lifecycles have upped the demand for better contract manufacturing capabilities and related services. To achieve the same, OEMs are seeking support from contract manufacturers, which in turn, is driving the market over the forecast period.

OEMs subcontract with Electronics Manufacturing Service (EMS) companies and benefit from their expertise in design, manufacturing, and supply chain management. Furthermore, reduced initial investments and increased operational efficiencies allow OEMs to focus on their core competencies. This has led to surging demand for electronic contract manufacturing and design services by OEMs. Moreover, the establishment of in-house manufacturing units is a key challenge faced by majority of OEMs. Thus outsourcing is a preferred option to keep pace with increasing competition.

The market is projected to witness significant growth due to rising demand from end-use industries, including healthcare, aerospace and defense, IT and Telecom, and automotive. The healthcare industry is expected to witness substantial growth owing to the increasing demand for medical devices. Surging need for optimizing resources and technological developments in manufacturing facilities have led to increased adoption of EMS among end-use industries.

Asia Pacific dominated the market in 2019 and is anticipated to account for largest market share over the forecast period. This is attributed to availability of low-cost labor and raw materials in the region. China accounted for more than 33% share in 2019 in the region. In North America, the growth of the market is attributed to increasing number of medical institutes and R&D centers working on advanced diagnostic products.

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https://www.grandviewresearch.com/industry-analysis/the-global-electronic-contract-manufacturing-services-market

Further key findings from the report suggest:

The market is expected to witness a healthy growth owing to rising need for resource optimization and growing developments in manufacturing technology
Electronics manufacturing segment accounted for the largest market share in 2019. However, electronics design and engineering services segment is projected to witness highest growth rate over the forecast period owing to surging inclination of OEMs towards outsourcing of contract manufacturing and designing services
On the basis of end-use, the IT and telecom sector held the dominant revenue share in 2019. However, non-technical sectors such as healthcare, automotive, and aerospace and defense are expected to witness noteworthy growth over the forecast period owing to rising outsourcing trends in these industries
Asia Pacific accounted for over 45% share of the overall revenue in 2019 and is expected to dominate the electronic contract manufacturing and design services market over the forecast period owing to high availability of raw materials and low-cost labor in the region
Hon Hai Precision Industry Co., Ltd.; Flextronics International, Ltd.; Jabil Circuit, Inc.; Sanmina Corporation; and Benchmark Electronics, Inc. are some of the key market players that captured a significant share in 2019.

Smart Sports Equipment Market Size Worth $4.04 Billion By 2027

The global smart sports equipment market size is expected to reach USD 4.04 billion by 2027, expanding at a CAGR of 8.1% during the forecast period, according to a new report by Grand View Research, Inc. Rising developments in sports technology through advanced technologies, such as Internet of Things and Augmented Reality, have developed a keen interest among consumers in smart sporting equipment. Additionally, increasing consumer attention towards sports as a lifestyle in order maintain fitness and track athletic performance is boosting the demand for advanced products.

Shifting preference for real time performance tracking process has paved the way for technology integrated sporting equipment over traditional sports equipment, which has increased the adoption of smart sporting equipment across the globe. These smart sports equipment, which are digitally connected through sensors, help sportspersons or athletes to track, monitor, analyze, and improve their performance. According to a 2017 study by the University of Wollongong, approximately 50% of youth regularly participate in organized sports in U.S., Canada, and England. Thus, rising participation of people, particularly young consumers, in various sporting activities is likely to positively impact the growth of the market.

Moreover, rising number of children indulging in different sporting activities to turn it into a career option has offered greater prominence to the product, thereby resulting in higher adoption of smart sports equipment. Newer product launches by manufacturers in the industry are incorporating advanced features in the product that support effective performance metrics. For instance, in 2019, KAHA PTE LTD launched a smart jump rope, Lifeflow. This equipment is embedded with sensors in the handle, which enables collecting biometric data while skipping.

Golf stick emerged as the largest product category in the market and was valued at 649.5 million in 2019. Increasing consumer participation in golf sports is projected to offer lucrative growth opportunity for smart golf clubs. According to the National Golf Foundation, 36% of the U.S. population, which is over 107 million people, have played, watched, or read about golf in 2019.

Franchise stores held the largest share of 55.6% in 2019 owing to easy availability and wide distribution network of these stores. High number of manufacturers selling these products through company owned retail stores owing to the niche product segment is boosting the sales of these products through franchise stores.

Asia Pacific is expected to expand at a CAGR of 8.7% from 2020 to 2027. Rising prevalence of sporting tournaments in the region is increasing awareness related to fitness and different sporting activities, and thus visits from foreign nationals are expected to increase the usage of these smart sporting equipment.

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

Further key findings from the report suggest:

North America held the largest share of the overall revenue in 2019
By product, balls are expected to expand at the fastest CAGR of 9.7% due to rise in sports and fitness activities
Based on distribution channel, specialty stores are expected to expand at the fastest CAGR of 9.5% over the forecast period
The Smart Sports Equipment Market has been characterized by high competition due to the presence of key players, including InfoMotion Sports Technologies; Golfsmith International Holdings, Inc.; DribbleUp, Inc.; Adidas AG; Wilson Sporting Goods; BABOLAT VS S.A.; HockeyShot Inc.; Riddell; Zepp Labs, Inc.; and Gridiron Technologies

Lawn & Gardening Consumables Market Worth $25.94 Billion By 2027

The global lawn & gardening consumables market size is anticipated to reach USD 25.94 billion by 2027, expanding at a CAGR of 3.6% over the forecast period, according to a new report by Grand View Research, Inc. Growing preference for landscaping and gardening activities across the residential, commercial, and industrial sectors is expected to drive the market for lawn and gardening consumables.

In addition, consumers are increasingly investing in home improvement or home remodeling projects to revamp their traditional household structure. Growth of the home values have doubled the total homeowner equity in the past five years. This has allowed the homeowners to feel richer and more disposed towards spending money on home improvement. This scenario is propelling the preference for accommodating gardening areas in the residential units. According to the American Housing Survey conducted by Harvard’s Joint Center for Housing Studies, the home improvement industry was valued at USD 383.3 billion in 2017.

Furthermore, wave of millennials are buying homes, particularly older homes that require more improvements, thus boosting the demand for landscaping products. According to a research conducted by HomeAdvisor, millennials are investing in a greater number of home improvement projects each year as compared to other age groups. Moreover, many consumers are considering the concept of landscaping as an essential part of interior decoration, which, in turn, is driving the demand for lawn and gardening consumables.

North America emerged as the largest regional market in 2019 and is expected to maintain its lead over the forecast period. Growing trend of house occasions is expected to boost the demand for lawn and gardening consumables in the region. Moreover, according to the National Association of Home Builders (NAHB), the number of single-family permits in U.S. has increased by 8.4% in 2018. Thus, rising developments in the residential household category are expected to drive the need for home décor, thereby resulting in the increased demand for lawn and gardening consumables.

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https://www.grandviewresearch.com/industry-analysis/lawn-gardening-consumables-market

Further key findings from the report suggest:

By end user, the residential segment accounted for a share of more than 45% in 2019 and is expected to expand at the highest CAGR over the forecast period
Based on product, fertilizers held a major share of more than 32% in 2019 and is expected to maintain its lead in the next few years
Some of the major players operating in the lawn & gardening consumables market are Ace Hardware Corporation, AE McKenzie, Agrium Incorporated, AMBRANDS, Amrep, Andersons Incorporated, APEX Nursery Fertilizer, BASF SE, DowDuPont, Espoma Company, Ferry-Morse Seed, Premier Tech Limited, and Scootney Springs Seed.

Smart Washing Machine Market Size Worth $21.82 Billion By 2027

The global smart washing machine market size is expected to reach USD 21.82 billion by 2027, expanding at a CAGR of 20.5% during the forecast period, according to a new report by Grand View Research, Inc. Rising shift towards the adoption of water-efficient washers in order to maintain a healthy environment is anticipated to drive the market. Rise in luxury living owing to rapid urbanization as well as increasing disposable income among buyers has also resulted in an increase in the penetration of the product in the residential as well as commercial sectors.

Smart washing machines offer added advantages through technology integration, such as remote control using an app, automatic program selection, auto-dosing, troubleshooting, memory feature, safety, and energy use. Moreover, these appliances help download cycles and tailor them to customer’s specific needs through features of cycle customization.

Technological advancement in the smart homes category is leading to higher demand for connected appliances, such as smart washers, as a source of luxury and convenience. Additionally, automatic washing process acts as an essential part of everyday housekeeping activity among Europeans, thereby increasing adoption of these appliances in the residential sector. Smart washers with Energy Star ratings can save a lot of water as compared to conventional washing machines. For instance, Samsung’s 6.0 cu. ft. FlexWash™ Washer in Black Stainless Steel model of product with an Energy Star rating and Wi-Fi connectivity uses 4,278 gallons of water per year. Whereas, conventional washing machines wash approximately 300 loads of clothes a year and consume about 12,000 gallons of water in a year.

Front load smart washer held a share of 54.6% in 2019 owing to the water and energy efficiency of the product as well as large loading capacity. Despite higher prices, the product is witness growing demand. For instance, in January 2020, SAMSUNG launched a new AI-powered front load washing machine and dryer.

The residential application segment is expected to expand at the highest CAGR from 2020 to 2027 owing to greater visibility and new product development. Installation of smart washing machines in residential areas helps in tracking and controlling the wash to avoid unnecessary wash cycles and water usage, thereby incurring higher demand among residential consumers.

Asia Pacific held the largest share in 2019 and is expected to expand at the fastest CAGR of 20.8% from 2020 to 2027. Rising introduction of new products in the market are paving the way for increased adoption of these appliances in the region. For instance, in December 2018, Xiaomi Global Community launched a fully automatic smart washing machine in China with a load capacity of 10 kg. The product is equipped with the latest BLDC variable frequency motor and is priced at around USD 290.

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

Further key findings from the report suggest:

Asia Pacific held the largest share of the overall revenue in 2019
By product, the front load segment is expected to expand at the fastest CAGR over the forecast period due to rise in demand from the residential sector
The commercial application segment is projected to expand at a CAGR of 23.2% from 2020 to 2027
The smart washing machine market is characterized by high competition due to the presence of key players, including Honeywell International Inc.; Koninklijke Philips N.V.; Sunbeam Products, Inc.; Xiaomi Corporation; Blueair; Coway Co., Ltd..; Whirlpool; Americair Corporation; and Sharp Corporation

Industrial Gases Market Worth $134.3 Billion By 2027

The global industrial gases market size is expected to reach USD 134.3 billion by 2027, registering revenue based CAGR of 5.5% over the forecast period, according to a new report by Grand View Research, Inc. The market is expected to witness substantial growth owing to increasing demand for industrial gases in manufacturing and healthcare sector. Moreover, increasing application of carbon dioxide in the Enhanced Oil Recovery (EOR) technology, food and beverages, and medical industry is anticipated to be the major driving force for the growing demand for industrial carbon dioxide.

Hydrogen can be used to power fuel cells that efficiently convert hydrogen to electricity. The utility gamut of fuel cells is immense and thus, has the potential to replace the traditional forms of power generators such as large batteries in buses, cars, submarines, forklift trucks, power plants, and combustion engines.

The healthcare application segment is predicted to have the highest growth and is expected to attain a CAGR of 7.0% in terms of revenue, over the forecast period. This is a highly versatile segment and its utilities range from pharmaceutical products to supplies and from medical equipment and healthcare services to medical therapies. The segment also includes preservation of tissue and blood using oxygen, MRIs using helium, and respiratory therapy using oxygen to help patients breathe.

Bulk (Liquid Gas Transport) distribution mode of delivery is ideally opted as a mode of distribution when the demand for gases if higher than packaged gas distribution and lesser than onsite distribution. This is a more efficient form of distribution and is therefore preferred over other modes of distribution since it ensures continuous supply of gases.

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https://www.grandviewresearch.com/industry-analysis/industrial-gases-market

Further key findings from the study suggest:

China is the largest market across the globe while India is projected to be the fastest growing market at revenue based CAGR of 7.6% during the forecast period, owing to significant growth of food and beverage, pharmaceutical, and manufacturing sector in Asia Pacific
Nitrogen is projected to expand at the highest CAGR during the forecast period owing to its applications in medical and pharmaceutical industry, in extraction of air from mines , and in blast furnaces and other furnace applications
The healthcare segment emerged as the fastest growing application segment and accounted for approximately 18% of the total revenue share in 2019 owing to its high demand for industrial gases such as nitrogen and oxygen in the medical and pharmaceuticals industry
The on-site distribution segment in Japan is the fastest growing segment and is projected to attain revenue based CAGR of 6.9%
Bulk mode of delivery is ideally opted as the mode of distribution when the demand for gases is higher than packaged gas distribution and lesser than onsite distribution
Major companies actively operating in the industry include Air Products & Chemicals Inc.; The Linde Group; Air Liquide; Air Products; and Messer Group.

Immersion Cooling Market Worth $855.2 Million By 2027

The global immersion cooling market size is projected to reach USD 855.2 million by 2027, registering a CAGR of 22.8% during the forecast period, according to a new report by Grand View Research, Inc. Rising investments in data center infrastructure along with the increasing power consumption are expected to surge the product demand.

With the rapid development of internet of things (IoT), virtual reality (VR), 5G, artificial intelligence (AI) and the commercial application of the new cutting edge technologies, the demand for information interaction and data processing is increasing which has sped up the construction of new data centers resulting in creating opportunities for product manufacturers in recent times.

Rising investments in single assets and portfolios, increasing capitalization rates for stabilized data centers, an increase in the worldwide spending on public cloud services and infrastructure, and various government initiatives such as “Digital India” are expected to stimulate the demand for immersion cooling systems in the forthcoming years.

Single-phase is expected to maintain its dominance over the forecast period, on account of its low system, tank and coolant cost; high coolant heat capacity; high dielectric strength; high biodegradability, and low environmental impact or Global Warming Potential (GWP) in comparison to two-phase immersion cooling systems.

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https://www.grandviewresearch.com/industry-analysis/immersion-cooling-market

Further key findings from the report suggest:

In terms of revenue, the two-phase immersion cooling system is projected to expand at a CAGR of 23.4% owing to higher energy efficiency and energy savings, improved reliability, lower maintenance requirement, and deployment flexibility of the product
High-performance computing contributed 35.8% to the overall market share in 2019 as they provide advantages for organizations that need a vast amount of computing power from their cloud providers
Cryptocurrency mining application segment is expected to witness a CAGR of 24.6% over the forecast period, owing to enhanced transactional security, quick international transfers, decentralized system, and protection from fraud
Asia Pacific is projected to witness robust growth over the forecast period due to the increased demand for data centers, rising power consumption, and an increasing number of AI application-driven startups
The immersion cooling market has been witnessing key developments in terms of technological advancements and sustainability wherein the companies have been optimistic in developing strategies to gain a competitive advantage

Fuel Transfer Pumps Market Worth $2.41 Billion By 2027

The global fuel transfer pump market size is expected to reach USD 2.4 billion by 2027, expanding at a CAGR of 4.3%, according to a new report by Grand View Research, Inc. The growth of the market can be attributed to the increasing product demand in several applications, including transportation, chemical, food and beverages, and construction.

Developing economies in Asia Pacific, including China and India, are experiencing rapid urbanization and industrialization over the past few years, and the trend is expected to continue over the forecast period. The growth and evolution witnessed by leading industrial verticals, such as chemical, construction, and automotive has led to the growth of Fuel Transfer Pumps (FTPs) in the region.

Increasing industrialization, technological developments, rapid urbanization, and growth in infrastructure are the major factors contributing to the increased demand for fuel, in turn, resulting in high adoption of FTP in the oil and gas industry. Thus, the demand for FTPs is expected to grow stronger owing to the growing consumption of oil and gas globally.

Increasing customer expectations have led to increased spending in R&D activities to improve the quality of pumps along with advanced process control. The fuel transfer pumps market is highly competitive and dependent on technological advancements and product developments. Key market players strive to achieve new application developments to gain a competitive advantage over their competitors.

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https://www.grandviewresearch.com/industry-analysis/fuel-transfer-pump-market

Further key findings from the report suggest:

DC FTPs dominated the market and accounted for 49.3% of global revenue share in 2019 owing to the increased demand for FTPs in mobile and portable refueling applications
The chemical segment is expected to witness a CAGR of 5.0% from 2020 to 2027 on account of the increasing penetration of the FTPs for fluid transfer across various stages of chemical processing and manufacturing
North America constituted the second-largest revenue share in 2019 on account of the increased adoption of the product in key application sectors including transportation, construction, chemical, and food and beverage
Asia Pacific is expected to be witness a CAGR of 5.3% over the forecast period on account of the robust economic growth, an increase in business investment spending, and strong gains in manufacturing output
The key manufacturers in the market, design, develop, and offer a wide range of FTPs equipped with varied specifications that are suitable for a wide range of applications such as construction, agriculture, chemical, food and beverage, and military