How Does Improved Smart Electricity Grids Lead to Switchgear Market Expansion?

In 2021, the switchgear market hit $93,432.6 million in revenue; it is advancing at a rate of 5.9% from 2021 to 2030 to reach a $157,045.5 million value by 2030. It is ascribed to the improved power distribution infrastructure and increasing construction activities led by infrastructure development. Due to the expansion of the industrial sector, there is an increased demand for energy in both developed and developing countries, led by increased automation and technological improvements. 

Low-voltage variants have captured the largest switchgear market share, ascribed to the three-phase power distribution products designed for electricity supply of a capacity of 6,000 Amperes at up to 1,000 Volts. Low-voltage variants are usually used for motor control centers and switchboards. The common usage of low-voltage switchgear involves power supply to low-voltage switchboards, other feeder and branch circuits and LV-MCCs. They are highly utilized in mining, manufacturing, utility, petrochemicals, water treatment and other sectors for power supply. 

APAC holds a significant switchgear market share, amounting to 45% of the revenue. It is expected to retain the same position in the market in the coming years. China dominates the APAC market as compared to other nations. The power generation sector is expanding to cater to the requirements of China’s rising population resulting in the expansion of the market in the country. According to Boston University Global Development Policy Center, the FDIs and Development led to overseas power generation capacity amounting to 106.2 GW in China from 2000 to 2018. 

The improvements in the smart grid infrastructure boost the switchgear market. There is a growing need to make advancements to the grid by utilizing innovative technology, controls and equipment for building smarter and more robust infrastructure. Smart grids generate power more efficiently in a reliable manner by interacting and collaborating. They reduce the instances of power outages for long durations. Smart grids are also effective during bad weather as they quickly restore the services by adding new capacity. 

Therefore, the expansion of the industrial sector leading to increased demand for energy to generate power drives the market.

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Tier III Data Center Dominate Data Center UPS Market with $3 Billion Revenue

The global data center UPS market produced $5,729.0 million in 2021, which is predicted to hit $10,096.5 million by 2030, growing at a 6.5% CAGR from 2021 to 2030. The market is being bolstered by the opening of new data centers, as the need for data storage is skyrocketing across all industries. The need for UPS systems is growing since they safeguard data centers from power spikes and outages. With high-density cloud computing systems, industries and businesses rely heavily on data centers, necessitating power supply continuity for effective data security.

The biggest end customer of data center UPS solutions is the IT industry. During the projected period, the segment is also predicted to increase at the fastest rate. Top IT firms rely on data analytics and cloud computing systems, and they have a high demand for data storage and security in data centers. Businesses use data center UPS systems to provide a continuous power supply to meet their business objectives. Amazon, Microsoft, and Google are a couple of the key companies in the data center UPS market that own over half of the data centers and contribute considerably to the market's growth.

North America held the biggest share of the revenue in the data center UPS market in 2021. This is due to the presence of key market companies including ABB Ltd., Eaton Corporation, and Schneider Electric, as well as the region's data center concentration, which is the highest in the world. On the other hand, the APAC market is expected to grow at the fastest rate in the future years. This is because of the region's growing investments, data center growth, and widespread acceptance of public and hybrid cloud by numerous sectors.

Governments are taking several steps to reduce their carbon impact. For example, The Carbon Neutral Government Program was created to help the public sector reduce emissions faster. As a result, businesses, manufacturing units, and IT companies are taking measures to move toward more efficient and environmentally friendly power backup systems, with green UPS systems leading the way in the data center UPS market, consuming less energy and producing a lower carbon footprint.

Hence, the market will grow significantly in the coming years, due to the growing count of new data centers and the heavy dependency of industries and businesses on data centers.

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Why Will Steelmaking Equipment Will Fitness Fastest Metallurgy Equipment Market Growth?

The major drivers for the global metallurgy equipment market are robust digitalization and surging integration of powder metallurgy in numerous sectors. In 2021, the market stood at $100.3 billion and it is predicted to touch $133.9 billion by 2030, booming at a 3.3% CAGR from 2021 to 2030. The outbreak of COVID-19 ruptured the market as it disrupted the industries that consume large amounts of metal, including industrial, automotive, and aerospace & defense. Thus, there was a significant fall in the power metal requirements, such as steel and iron.

Within the equipment segment, the milling machines category dominates the metallurgy equipment market, accounting for about 55% of the total market share. This can be credited to the steep rise in the count of metalworking facilities all around the world which has led to the enlargement of the global metalworking industry. Furthermore, the companies are involved in enabling software programs that run the tool changes, spindle speeds, and axis in machines that facilitate milling because of exorbitant labor costs. To improve the productivity of these machines, there is increased integration of CNC technology.

The rising integration of powder metallurgy in the automotive sector will spur the metallurgy equipment market growth. This can be ascribed to everlasting impact and lesser weight of powdered metals. They not only enhance the effectiveness of automotive components but also minimize the wastage of materials. Powder metallurgy is being adopted in the manufacturing of cars by developing nations, such as China. For instance, car registrations in China have increased by 1.3 million from 2020 to 2021, even amid the global pandemic, thereby propelling growth in the market.

Within the type segment, steelmaking equipment will witness the fastest growth in the metallurgy equipment market in the coming years at a 3% CAGR. This can be attributed to the rising deployment of steel in the electronics, infrastructure, equipment and machinery, marine, aerospace, and automobile industries. For example, steel contribution accounted for $3 trillion in the global economy. Moreover, to improve the durability and safety of passengers and vehicles, the steel is crush- and corrosion-averse. The snowballing demand for hybrid and electric vehicles will augment growth in the market.

APAC has generated the highest revenue in the market, of about $47.2 billion, attributed to the existence of advanced production centers in numerous industries. Moreover, China and India are two of the largest producers of iron and steel, which leads to an easy availability of these raw materials for regional industries. APAC countries are on the path to replacing those in North America and Europe as the major manufacturing hubs, with India, China, Japan, and South Korea already among the top 10 manufacturers in the world.

Hence, as the demand for metals grows in different industries, so will that for the equipment used to process them.

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Why Will North America Dominate Satellite Spectrum Monitoring Market?

 By 2030, the worldwide satellite spectrum monitoring market is predicted to reach $6,127.3 million from $3,291.2 million in 2021. It is expected to advance at a CAGR of 7.1% from 2021 to 2030 owing to the need for improving signal interference because of satellite proliferation and rising spectrum congestion, as a result. Moreover, the increasing investment spending by entrepreneurs in this business, coupled with government initiatives, will help the market boom. Moreover, the space sector will experience significant growth due to innovations such as air-breathing propulsion systems, electronic propulsion systems, and reusable launch vehicles. 

Satellite Spectrum Monitoring Market Report 2022-2030

As the count of internet users rises, the volume of the data generated is also increasing, which congests the satellite spectrum. This will drive the satellite spectrum monitoring market, as a smoothly working spectrum is necessary for fast data transmission . In 2021, there were approximately 5.2 billion internet users all around the world, as per Internet World Stats.  The surging usage of non-geostationary orbit satellite systems, 5G, high-altitude platform stations, and IoT will compel IT and telecom to utilize multiple frequencies of the radio spectrum, thereby driving the market.

Networks are economical and also offer adequate data transfer rates, thus giving better comfort and mobility to users. However, economical pricing results in increased signal traffic, which deteriorates the quality of the service by leading to congestion and interference in the satellite spectrum. This emphasizes the dire need to constantly look at the spectrum’s current state with regulators, which is consequently resulting in a higher need for an advanced satellite spectrum monitoring system. The system spots the less-efficient areas and provides an interference-free atmosphere for several services and users. Furthermore, there is a skyrocketing demand for these systems due to the rising count of global satellite launches.

North America dominated the satellite spectrum monitoring market in 2021, standing at revenue of $1,291.2 million. This trend will continue in the forecast period, with the market predicted to grow at a CAGR of 7.0%. This can be ascribed to the existence of highly competitive market players who provide and improve the satellite spectrum monitoring solutions. For instance, Amazon and SpaceX have recently launched satellites for network and broadband applications. This will further push wireless technology usage and crowd the unlicensed spectrum, thus driving the need for monitoring solutions.

With an increasing number of internet users, coupled with the enormous investments by entrepreneurs, the market will observe significant growth. 

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How Does High Rise Structures Boost Structural Metal Products Market?

In 2021, the structural metal products market size stood at $448.3 billion, and it is expected to grow at a rate of 6.1% from 2021 to 2030, to acquire $764.0 billion in revenue, attributed to the rising construction activities led by infrastructure development worldwide. The surge in demand for structural metal products is attributed to their physical properties, including pest and mold resistivity, sustainability, and cost-effectiveness, propelling the market. The government-led infrastructure development projects such as railways and highway construction drive the market.

The infrastructure development activities to manage the transportation drive the structural metal products market. For instance, the massive usage of metal liners, casings, plates, culverts and bar joints in highway, railways and bridge construction leads to the expansion of the market. The government support to fund these infrastructure projects results in growing opportunities for businesses to generate more revenue. Highway construction activities are expected to rise in the near future, resulting in market proliferation.

Under the product segment, the support and structure category generate a significant structural metal products market revenue amounting to more than 35%. There is an expected increase in the demand for these products, majorly for the construction of staircases, sheds, decks, and skyscrapers. Fabricated metal structural beams are more preferred in construction due to their long life, good grip and fire resistance properties. Numerous fabricated metallic supports and structures companies are established in Germany, attributed to the rise in construction for residential and construction buildings. 

The residential sector holds the largest structural metal products market share. It is expected to retain the same position in the coming future. The rising infrastructure development activities in Africa are attributed to the increased requirement for residential buildings resulting in market expansion. Moreover, the market is expected to witness a surge in non-residential sectors. For instance, the Belt and Road Initiative will increase China’s import and export of steel for infrastructure development activities within the region. The construction of roads, railways and ports will result in a market boom. 

North America dominates the structural metal products market, attributed to multi-story residential construction. The demand for structural steel is rising in the region, attributed to the construction of open-air stadiums, power plants, petroleum refineries and power plants. The non-structural applications of structural steel include the construction of transportation facilities, marine structures, rack systems and mobile homes. The APAC structural metal products market is expected to grow at a rapid rate in the near future. 

Therefore, the surge in infrastructure development activities attributed to the construction industry's expansion led to market penetration.

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Why Will APAC Dominate the Crop Protection Chemicals Market?

The major drivers in the global crop protection chemicals market are burgeoning population levels, the dire need to improve the scalability of crop production, scarce resources such as agricultural labor and land, and surging concerns over food security. In 2021, the market was valued at $78,407.3 million, and it is predicted to touch $117,436.6 million by 2030. Furthermore, the market will advance at a 4.6% CAGR from 2021 to 2030. In addition, there is a huge pressure exerted on the agricultural land and the farmers to improve the efficiency of agricultural lands. 

A skyrocketing investment in R&D will spur crop protection chemicals market growth. Enhanced integration of technologically advanced devices into the current farming activities will pave the way for generating higher revenue in the market by providing lucrative opportunities to the market players to gain a competitive edge. The farmers are in constant fear of crop failure because of the threat of pest attacks. Moreover, to minimize the risks associated with crop damage and to maximize crop production, pesticides are being extensively used in farming techniques.

Within the application segment, the cereals category will generate the highest crop protection chemicals market revenue, growing at a 5% CAGR from 2021 to 2030. The requirement to meet the skyrocketing need for food inventories by the population will enhance the efficiency of production, thereby helping the corporations to attain economies of scale. The surging awareness of leading a healthy lifestyle among the people is exerting a noticeable push on cereal production to cater to the dietary requirements of people. Therefore, this will propel growth in the market.

APAC led the global crop protection chemicals market in 2021, accounting for about 40% of the total market value. This can be credited to surging awareness of the use of pesticides, extensive farmland, and an inherent strong agricultural base. Moreover, the increasing adoption of technologically advanced products will propel growth in the market. In addition, it is also expected to exhibit the fastest CAGR because of the greater requirement for agrochemicals in emerging economies, such as China and India.

Hence, the skyrocketing population levels will drive the market by offering extravagant opportunities to the market players.

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Why Will APAC Rule the Pressure Washer Market?

The major drivers in the global pressure washer market are the increasing count of carwash stations, coupled with a snowballing demand for pressure washers in commercial as well as residential areas. In 2021, the market stood at $2,629.1 million, and it is predicted to touch $3,868.9 million by 2030. In addition, the market will grow at a 4.4% CAGR from 2021 to 2030. A swift urbanization rate will increase the requirement for residential projects, in turn, surging the requirement for home cleaning systems, such as pressure washers. This will augment growth in the market.

The outbreak of COVID-19 had disrupted several sectors but the pressure washer market is among the exceptions. The spread of the virus had exerted a push on the importance of sanitization and cleaning among several corporations. There would be dramatic changes within the cleaning industry amid the pandemic. There is a skyrocketing requirement for pressure washers in the cleaning applications in an attempt to meet the standards of sustainability and hygiene. Thus, the commercial cleaning industry had very well bridged the spaces between the forces of demand and supply by enhancing their efficiency.

APAC will witness the fastest pressure washer market growth, of approximately 5%, on account of extensive government support. For example, an investment of $1.4 trillion was made by the government of China with the aim of inter-city transportation systems, 5G networks, and digital infrastructure development. Moreover, an increasing disposable income will exert a push on the requirement for swimming pools, gardening, floor cleaning, and vehicle washing maintenance services. Approximately, 80 million sales were accounted for in the automobile sector in 2021 according to the OCIA, thereby, creating the carwash services demand.

The hot water category will witness a 4% CAGR in the pressure washer market from 2021 to 2030. It offers an efficient cleaning process and minimizes the cleaning time by 35%. There is a robust demand for deep cleaning applications, including grease and clean oil. Daimer's Super Max hot-water pressure washers, in particular, have temperatures of up to 572 °C (300 °F), pressures of up to 3,500 psi, and flow rates of up to 10 gallons per minute.

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APAC is Dominating Force in Rare Earth Metals Market

The size of the worldwide rare earth metals market was approximately $7,063.8 million in the year 2021 and it will reach a value of $15,473.0 million by 2030, advancing at a compound annual growth rate of approximately 9% during the forecast period. This will chiefly be a result of the growing use of these elements in the customer electronics, space, and automotive industries. With rapid industrialization, there is been an intensification in the growth of all the industries employing rare metals as raw materials.

The APAC rare earth metals market will have the highest growth rate, in excess of 9%, in the near future. China has the largest reserves of the majority of rare earth elements and is the largest producer, with a share in excess of 60% of the global output. Furthermore, it is the key exporter of these elements. With the increase in the production of vehicles and the development of the construction industry, the industry is growing continuously. These minerals are employed as alloys for the manufacture of automobiles and their parts.

The growth of the rare earth metals market is mainly because of the increasing use of neodymium magnets in the machines of MRI, to get internal assessments of the human body without the use of radiation. This is because of the heavy funding in the healthcare industry by the government and top companies at a global level. According to statistics, in 2021, the global healthcare investment was valued at around $6 billion. Furthermore, numerous uses of these metals are in protection equipment like communication equipment, precision-guided weapons night-vision goggles, and stealth technology, which are pushing the demand for the same.

There is an increase in the demand for rare metals at a global level due to the use of the same in a large number of industries such as customer goods.

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How Does Automation Leads to Surge in Commercial Lawn Mower Market?

In 2021, the commercial lawn mower market valued $14,741.3 million, and by 2030, it is set to reach $26,346.6 million, advancing at a rate of 6.7% from 2021 to 2030. Technological advancements and infrastructure development projects such as smart cities are leading to market growth. The rapid urbanization leading to increased construction of commercial buildings is likely to boost the demand for gardening and lawn maintenance equipment.

The commercial lawn mower market is expected to boom due to the advanced systems integrated into the lawn mowers, such as sensors that perform weather sensing, obstacle identification, anti-theft and other tasks to provide convenience to the consumers. Moreover, lawn mowers powered by AI can potentially transform the market. It will enable users to connect the lawn mower with their smartphones and remotely access it through Bluetooth, cellular connectivity or Wi-Fi. 

The worldwide smart cities projects are gaining momentum, leading to a surge in demand for smart devices for ease of convenience penetrating the commercial lawn mower market. Artificial intelligence, machine learning and the internet of things led technologies expand smart cities equipped with smart infrastructure, leading to increased demand for robotic lawn mowers. The rapid urbanization leading to the construction of new structures, including maintenance of green areas for soccer fields, golf course fairways, airports and other sports fields, leads to a surge in demand for lawn mowers.

Golf courses & other sports arenas contribute highly to the commercial lawn mower market revenue generation, accounting for $3,307.1 million. It is expected to follow the same trend in the coming years, attributed to the rising popularity of golf among people. Numerous youngsters are participating in golf sports worldwide, leading to increased investments in the construction of golf courses. It will further lead to increased demand for commercial lawn mowers. 

North America contributed significantly to the commercial lawn mower market revenue generation amounting to $5,540.4 million; it is expected to retain the same position in the near future. Increased demand for lawn mowers is attributed to the prominence of golf courses in the region. Numerous initiatives of governments to promote the development of green areas for public usage have also resulted in the increased demand for lawn mowers. 

Thus, smart cities with smart infrastructure projects that includes the development of green areas for various sports and other public activities is expanding the market.

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Why Water-Based Adhesives will Help in the Growth of Construction Adhesives Market?

In 2021, the worldwide construction adhesives market was valued at $9,101.5 million and it is projected to touch $14,541.9 million by 2030. The market will advance at a CAGR of 5.3% from 2021 to 2030 due to surging demand for low volatile organic compound content adhesives, such as water-based adhesives and pressure-sensitive adhesives, along with the expanding construction sector. The growing population all around the world, coupled with the rising disposable income will help this market to grow because people will be able to purchase more residential and commercial spaces. 

Under the segmentation of type, the acrylic construction adhesives ruled the construction adhesives market in 2021 with the revenue, accounting for $3,862.3 million revenue. This is predicted to advance at a CAGR of 5.7% from 2021 to 2030 owing to the robust growth of the construction sector in the MEA and APAC regions. There is a strong preference for this category due to its high water-resistant capacity and strong bonding with substrates. Furthermore, polyurethane adhesives are projected to generate the second-highest revenue in the coming years due to their binding capacity with almost every substrate from wood to plastic.

 In 2021, the APAC construction adhesives market generated approximately 45% of the total revenue the construction adhesives market. This can be ascribed to significant economic growth, swift urbanization, growing population, rising disposable income, and consequently, surging consumer purchasing parity will drive the market. Moreover, increasing government investment in infrastructure and rising demand for low volatile organic compound content adhesives propels the market growth. Approximately, $13 trillion will be invested by China in the construction sector by 2030. 

Nevertheless, North America is predicted to generate the second-highest revenue share in the construction adhesives market, advancing at a CAGR of about 5.1% in the forecast period. This can be credited to technologically-advanced adhesives availability and their integration in cladding applications, insulation, roofing, and waterproofing. Additionally, the surging requirement for adhesives offers cracks prevention on airport runways and highways and safeguard buildings from uncertainties of weather. All of this together will drive market growth in this continent.

Hence, boost in the construction sector, swift urbanization, growing population, and rising disposable income will spur market growth.

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How Is Refractories Market Expanding due to Infrastructure Development?

The estimated revenue of the global refractories market was $27.8 billion in 2021. The expected CAGR for the industry from 2021 to 2030 is 4.7%, with which the market size will reach $42.2 billion in 2030. Refractories are natural and synthetic materials, including non-metallic materials or combinations of compounds and minerals, such as bauxite, chromite, fireclays, zirconia, and silicon carbide. They are used to line the surfaces of furnaces, which are widely used in the metallurgy sector for casting, sintering, and smelting.

The primary driver for the global refractories market is infrastructure development, increasing usage of non-ferrous materials, and growing glass industry. Refractories are primarily used for furnace linings and other applications due to their thermomechanical properties and resistance to high temperatures. They can tolerate temperatures ranging from 500 °F to 3,326 °F, which is higher than most other elements’ melting points. The melting temperature of pure refractory materials usually ranges from 3,300 °F to 6,000 °F.

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The largest refractories market share was held by bricks and shapes, of 60%, under the form segment, owing to the high demand for this form in the metal and non-metal industries. The insulation layer within the ovens and kilns is built of refractory bricks. It has to be replaced regularly depending on the insulation requirements of customers, which is why bricks hold the most-significant proportion of the market. Refractory bricks are made of ceramic material and possess various properties, such as strong insulation and heat resistance.

The largest refractories market is APAC, accounting for $17 billion in 2021. The World Steel Association reports that APAC accounts for 70% of the worldwide steel output, with China alone responsible for around 50% of the production. It produced over 1,000 million tons of crude steel and more than 1,300 million tons of steel products in 2020. Moreover, the steel industry in India is driven by the domestic availability of raw materials (iron ore) and cost-effective labor. One of the most-significant factors behind the dominance of APAC on the global market is the growing non-ferrous metal industries.

Therefore, the need for heat resistance is the major driving factor for the surge in the demand for refractory materials across industries.

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Why Will Residential Category Dominate the Fiber Cement Market From 2021 to 2030?

By 2030, the global fiber cement market is predicted to reach $27,743.8 million, since being valued at $17,500.0 million in 2021. The market is projected to advance at a 5.3% CAGR from 2021 to 2030. This can be ascribed to the surging requirement for fiber cement for external and internal residential applications. Moreover, the substantial rise in the residential sector will propel market growth. Furthermore, the magnificent properties of fiber cement, including stability, durability, better strength, fire-aversion, and water-aversion characteristics are skyrocketing the market demand.

A gradual shift toward green building will spur the fiber cement market growth. Contrary to asbestos, fiber cement is an environmentally sustainable substitute. Owing to its environmental benefits, national governments have constrained asbestos use and imposed a ban on it, promoting the usage of fiber cement. For instance, the European Union had banned the use of asbestos in new products for its hazardous impact on health.

Extensive government support for green construction and buildings will pave the way for fiber cement market growth. For instance, there is an evolution of environment-friendly and green community facilities by the Government of Canada all around the country via new constructions, repairs, retrofits, and upgrades. Similarly, Mexico is also following the green building trend by taking the right lessons from the U.S., Canada, and European countries. This would not only assist in reaping the health benefits of environmentally sustainable buildings but also save money.

APAC is expected to continue this trend in the coming years growing at a 6% CAGR. The region is home to various emerging economies in the world which have a vision of creating lucrative opportunities to boost the infrastructure. Furthermore, the growing population, rising disposable income, surging purchasing power parity among the consumers, greater FDI, and rising awareness about hazardous asbestos use will augment growth in the region. For example, the Chinese government-sanctioned 26 infrastructure projects worth $142 billion in 2019 that are expected to be finished by 2023.

Hence, substantial growth in the residential sector and surging requirements for fiber cement for external and internal residential applications will drive the market.

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Where Will Growing Mining Sector Take U.S. Engine-Driven Welder Market?

The growing requirement for engine-driven welders to suffice the dual purpose of producing power and welding in the mining industry and rising construction activities are driving the U.S. engine-driven welder market. Hence, equipment sales generated $122.3 million in 2021, and this number will likely grow to $185.8 million in 2030, with a 4.8% CAGR from 2021 to 2030. There has been a significant rise in the usage of improved engine-driven welders owing to manufacturing companies' development of small, light, and efficient products.

Due to the pacing up of mining activities across the country, the demand for such systems is likely to expand rapidly. The value of the raw mineral produced by the country in 2020 stood at $90,000 million, growing by another $10,000 million, or 10%, in one year. Moreover, a surge in the need to repair mining equipment propels the U.S. engine-driven welder market advance. Mining companies prefer such welders owing to their dual operational capability for prime and backup power supply, in addition to their primary purpose of welding.

The construction sector also utilizes engine-driven welders for various purposes, concerning their dual usage. Therefore, as construction activities are likely to increase in remote areas without any surety of power availability, the U.S. engine-driven welder market will only grow. Due to their application for supplying power when there is no ensured availability of electricity and serving as a welding machine simultaneously, they have become widely common in construction sites.

The sales of engine-driven welders with a power output of 300 to 399 Amperes continues to rise in the country. The primary factor behind such  U.S. engine-driven welder market growth in this category is their rising usage in the construction, pipeline, structural steelwork, and maintenance and fabrication applications. Farmers also widely use 300–399A engine-driven welders for equipment repair and fabrication applications. This is why this power rating category will likely witness the fastest growth, at a 5% CAGR, in the coming years.

Thus, the construction sector has benefitted the market due to the numerous infrastructure projects backed by the government of the country.

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How Does Automotive Industry Drive LTCC and HTCC Market Growth?

In 2021, the LTCC and HTCC market size stood at $2,919.0 million, and it is projected to grow at a CAGR of 3.9% from 2021 to 2030, to reach $4,125.6 million by 2030. This is ascribed to the increased industrial usage of ceramic substrates in sectors, including telecommunications, automotive, and consumer electronics. Moreover, the surging demand for low-cost small-circuit boards leads to the increased consumption of ceramic substrates. 

The most significant contributor to the revenue share of the LTCC and HTCC market was LTCC, amounting to 70%, in 2021. The category is expected to follow the same trend in the future as well. LTCC is defined as a ceramic substrate that facilitates high-frequency circuits. It has superior electrical and mechanical properties, such as limitless stacking, form-and-fit versatility, and high performance under extreme conditions, making it a better choice than HTCC. LTCC products are also utilized in wireless technologies and RF modules, facilitating regular communication.

The key LTCC and HTCC market players are contributing to the increased R&D activities in this field. They are investing a high amount in R&D for effective production processes of LTCC and HTCC products. For example, the electronic devices segment of Kyocera Corporation invested $174.8 million in 2021 in R&D activities, which was 17% higher than last year. The investment's primary goal was to enhance the electrical and electronic devices portfolio. 

The automotive sector acquired a significant share of the LTCC and HTCC market, amounting to 40% revenue generation, in 2021. The industry will also dominate the market in the coming years. This is ascribed to the surging demand for various automotive electronics, including telematics, and the increasing vehicle safety awareness. Moreover, countries such as Russia, India, Argentina, Thailand, and Brazil have a high demand for ceramics, due to the mass adoption of vehicle sensors and devices.

APAC held the largest share in the LTCC and HTCC market in 2021, attributing to the growing automotive and industrial electronics sectors in Japan, South Korea, India, and China. The demand for co-fired ceramics has increased over time, due to the rapid production of electronic products, which are extensively used in the telecommunications and automotive industries. 

Thus, the increased adoption of wireless technology has led to a boom in the market, with increased efficiency of 5G and 6G networks.

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Why Industrialization and Urbanization Help Propel Heat Pump Market

From $53,821.2 million in 2021, the heat pump market value will increase at a growth rate of 8.8% in the years to come and reach $115,435.6 million by 2030. The replacement of conformist fuel-based heating know-how in these systems and momentous adoption of the heat pump expertise in housing uses as a lucrative heating technique are influencing the market development positively. Also, this technology contributes considerably to the decrease of carbon emissions and also obeys governing norms. Consequently, the rising environmental apprehensions and promising governing policies also are responsible for the growth of the industry.

The air-to-air heat pumps lead the heat pump market, with approximately 80% share, in the year 2021. Fast and easy fitting, longer lifespan, and little emissions are some projecting drivers quickening the use of these variations. They absorb heat from the outdoor air and transmit it to a walled space via central heating system. Key fundings in the manufacture of personalized systems for operations athwart regions with extreme weather conditions will also inspire business growth for the important manufacturers.

The heat pump market value in the APAC region is likely to exceed $50 billion by the year 2030, with an around 9% CAGR. The growing scale of commercial and residential construction, including hotels, offices, and educational organizations, is responsible for market growth. Furthermore, the strict regulations regarding energy efficiency and the increasing R&D for upgrading know-how, to reduce the influence of human actions on the atmosphere, would lead to industrial growth.

This technique is measured as favorable for lessening the emissions of greenhouse gas. These pumps extract heat from the air and then with the use of use electricity either increase or decrease its temperature relying on whether they are used for cooling or heating. These kinds of pumps can take up to 77% of the heat from the air; therefore, their usage can diminish the utilization of renewable energy sources expansively as opposed to alternate HVAC know-hows, thus lowering the emissions of carbon.

Industrialization and urbanization are the main factors for the demand of heat pumps around the world.

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Rising Road Fatalities Fueling Connected Motorcycle Demand

According to the World Health Organization (WHO), over 1.35 million deaths are caused due to road accidents globally. About 93% of these deaths occur in low-and middle-income countries, even though they only possess around 60% of the world's automobiles. Since a large number of bikers are involved in these accidents, bike manufacturers are being coerced to integrate advanced rider-assistance systems to improve their safety. In an attempt to minimize road accident cases, motorcycle manufacturers and road safety authorities are focusing on connected motorcycles, as these offer enhanced safety features.

Connected Motorcycle Market

Moreover, the surging penetration of sports and luxury bikes in emerging economies, such as India and China, and other nations of Asia-Pacific (APAC) and Latin America, Middle East, and Africa (LAMEA) will result in the progress of the connected motorcycle market during 2020–2030. The increasing adoption of these two-wheelers is due to the rising per capita income and soaring purchasing power of the people in these regions. Besides, the rising integration of artificial intelligence (AI) with the internet of things (IoT) will also amplify the use of connected motorcycles, as these technologies offer increased safety and better strategic management.

According to P&S Intelligence, the APAC connected motorcycle market will witness the fastest growth in the coming years. This can be credited to the surging integration of connected features in the sports and luxury motorcycles being sold in the region. Moreover, the strong presence of motorcycle manufacturers in China and India, owing to the abundant raw materials, cheap labor, constant technological advancements, and relaxed government regulations, will boost the production of connected motorcycles. For instance, 10,020,000 motorcycles were sold in India during Financial Year 2020–2021, many with connected features.

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Thus, the increasing adoption of sports and luxury bikes and growing concerns regarding road accidents and fatalities will boost the integration of connected features in motorcycles in the coming years.

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Increasing Geriatric Population Driving Population Health Management Market

The growing geriatric population, prevalence of chronic diseases, investments, and healthcare expenditure are the key drivers for the population health management market. Advancing at a 23.3% CAGR during the forecast period (2016–2022), the market is projected to garner more than $48.1 billion in 2022, compared to $13.6 billion in 2016. The collection of patient data via multiple health information technology resources to be compiled into one single record is termed as population health management (PHM). It is used to identify the diseased population, care gaps, and risks, as well as engage patients, devise treatment methodology, and measure clinical outcomes.

The population health management market is being driven by the rising geriatric population across the world. The United Nations Department of Economic and Social Affairs mentioned that by 2050, the percentage of people over the age of 60 would grow to 21.1% from 11.7% in 2013. With age, the body’s ability to heal wounds, circulate blood, and fight infections diminishes, which makes the elderly more susceptible to many diseases, such as cardiovascular and neurological diseases. Further, many older people sometimes require personalized treatment, in which PHM can be extremely helpful.

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Another factor driving the growth of the population health management market is the increasing chronic disease prevalence. Lifestyle changes, unhealthy diet, and lack of awareness about many medical conditions and preventive health checkups contribute to the rising incidence of chronic diseases. The Centers for Disease Control and Prevention estimated that in 2012, nearly 117 million people lived with one or more chronic conditions in the U.S. Patients suffering from such diseases require long-term treatment and care and may even suffer from secondary ailments. PHM helps in the easy management of diseases in a cost-effective way over extended periods of time.

The segmentation of the population health management market is also done based on component. The bifurcations of this segment are service and software; in the historical period, software was the larger of the two in terms of the revenue generated in the market. As the market for PHM is still in the developing phase, different end-users are predicted to invest in new software installations, which would further contribute to their high demand, thereby resulting in their growth during the forecast period.

Therefore, the market for population health management is projected to witness remarkable growth in the forecast period owing to the increasing menace of chronic diseases, especially among the elderly.

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