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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Australia Ventilation Products Market Is Set To Reach $1,003.9 Million by 2030

 In 2021, the Australia ventilation products market accounted for $569.4 million in revenue, and it is predicted to reach $1,003.9 million by 2030, advancing at a 6.5% CAGR between 2021 to 2030. The increasing number of residential and commercial projects, rising awareness of the health and environmental implications of polluted air, and growing demand for decentralized ventilation are contributing to the market expansion.

Essentially, the key aspect driving the market growth is the increasing population. For example, the total construction output in Australia increased by roughly 0.5% in June 2021 as compared to June 2020. The residential sector was worth roughly $14 billion, while the non-residential industry was worth around $8 billion. 

Key Findings of Australia Ventilation Products Market Report

• In 2021, the ventilation fans category led the Australia ventilation products market, and this is likely to continue over the forecast period. This is because these fans are often installed in commercial spaces.

• In 2021, the commercial category accounted for over 70% share of the Australia ventilation products market. Economic growth and rapid urbanization have contributed to the increase in the number of hotels, offices, malls, and hospitals, thus surging the demand for ventilation solutions.

• As compared to centralized ventilation, decentralized ventilation offers numerous benefits. Decentralized ventilation enables the system to meet the demand of each zone in terms of indoor air quality. 

• Furthermore, decentralized systems can improve ventilation efficiency by removing pollutants closer to the source, reducing the volume of supply air needed, and the energy required to condition and distribute it. These systems are advantageous because each component of a building's ventilation system may be operated individually.

• Fantech Pty. Ltd. launched a new range of Trade sweep fans in January 2020. They are compatible with Fantech Trade's newest invention, the "AeroGlide System." There are four variants available: black and white, LED and non-LED, and an IP55-rated type for outdoor use.

• Vent-Axia Group Limited and Ventair Pty. Ltd. announced their collaboration in August 2019. Ventair became a new supplier of the Vent-Axia in Australia as a result of the cooperation.

Due to the increasing carbon emissions, rising pollution levels, and advancing awareness toward maintaining a sustainable and healthy environment, the demand for green/smart buildings is growing. Water conservation, energy efficiency, waste reuse and recycling, greenhouse gas emission reduction, and natural resource use minimization are all examples of green building practices.

The Australia ventilation products market is highly fragmented. To gain a competitive edge, players have entered into partnerships and launched new products in recent years. These players are Vent-Axia Group Limited, Fantech Pty. Ltd., Johnson Controls International Plc, Carrier Global Corporation, Panasonic Corporation, Ventair Pty. Ltd., LG Electronics Inc., Samsung Electronics Co. Ltd., Daikin Industries Ltd., and Mitsubishi Electric Corporation.

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Madagascar Diesel Generators Market To Reach $27,755.7 Thousand in 2030

The Madagascar diesel generators market was valued at $21,429.8 thousand in 2021, and the market will propel at a 2.9% CAGR during 2021–2030, to reach $27,755.7 thousand. The speedy growth in the construction and telecom sectors and the intensification in the incidence of power cuts are the main factors accountable for the growth of the market. 

According to the World Bank, only about 27% of the population of Madagascar had access to electricity in 2019, which is one of the primary reasons for the increasing requirement for diesel gensets in the mining, telecom, construction, and residential sectors.

The telecom sector of Madagascar has profited from the snowballing rivalry among key operators such as Orange Madagascar, Airtel, and Telma. In 2021, the government relaxed the excise duty on telecom products to 8% from 10%, which is advantageous for customers. This opened the gates for a high requirement for diesel generators set in telecom towers to cope with the high-frequency power cuts.

Key Findings of Madagascar Diesel Genset Market

• The 15–75 kVA category held the largest share, of approximately 42%, in 2021. This is due to the increasing use of these gensets in residences, small industries, restaurants, hotels, telecom towers, and commercial complexes. 

• Furthermore, the 376–750 kVA category is the second significant contributor to the Madagascar diesel genset market.  The primary reason for this is the high requirement for these generators in industries and commercial complexes.

• The commercial application category is likely to grow at the highest rate in the years to come, propelling at a 3.9% CAGR. This can be primarily due to the constant advancement in the construction sector.

• The Madagascar diesel genset market is likely to be boosted by the increase in the requirement for power backup in the commercial and residential sectors and the development of the mining and construction industries.

• Power consistency is an important prerequisite for Madagascar’s economic development. Thus, the requirement for energy among public institutions of the country has augmented, to improve the eminence of the services provided to people.

• Key firms in the Madagascar diesel genset market are taking part in partnerships and alliances with the intention of staying ahead of their competitors. For example, Green Energy Solutions (GES) and Colas Madagascar entered into a collaboration in April 2021 to construct a hybrid power plant driven by solar energy for Colas Madagascar at the Ambokatra quarry and offer construction supplies within 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 Will APAC Rule Low VOC Adhesives Market?

The low VOC adhesives market is predicted to touch $81.1 billion by 2030, since being valued at $47.6 billion in 2021. The market will grow at a 6.1% CAGR from 2021 to 2030 owing to the stringent regulations being imposed by the government to reduce the VOC content in products, coupled with the rising awareness of sustainability standards. For example, in 2020, there was an imposition of new VOC standards for corporations producing numerous commodities, including inks, cleaning products, coatings, and adhesives, in China.

Another major driver for the low VOC adhesives market is corporations’ investments in emerging economies, to launch new products. This trend is accompanied by an inclination toward low-carbon-emitting vehicles and a gradually growing awareness about green homes or smart homes. For example, the building of an Adhesive Technologies Innovation Center in Shanghai was announced by Henkel in 2021, with the total spending accounting for about $65 million. This was done to leverage the growing consumption of adhesives with a low VOC content by various industries.

Within the end use segment, the paper & packaging category accounts for more than 30% of the overall low VOC adhesives market share. This can be credited to the rising requirement for sustainable and environment-friendly packaging commodities, including corrugated boxes. Furthermore, the Food and Drug Administration has allowed low-VOC adhesives to be used in food packaging. In addition, the green building and construction sector will fuel the market advance due to the extensive utilization of pressure-sensitive adhesive technology for flooring purposes, including vinyl and carpet floor tiles.

APAC will lead the low VOC adhesives market in the coming years due to the surging infrastructure spending, robust economic growth, and skyrocketing purchasing power of consumers. Moreover, the rising population and developing automotive sector will augment growth in the market, because of a increasing requirement for adhesives in the packaging, healthcare, and automotive sectors. Furthermore, being home to emerging economies, which have a stronger consumer base and economical labor costs, new manufacturing units of low VOC adhesives are being set up in the region.

Hence, the snowballing demand for these products in the packaging industry, coupled with rising vehicle safety standards, will create lucrative opportunities for the key players.

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What are Key Factors Causing Boom of Hong Kong Wound Care Market?

People aged 65 or above have steadily risen in Hong Kong, from 0.46 million in 1988 to 1.27 million in 2018, as per government sources. The rising geriatric population is one of the key factors fuelling the demand for wound care products in the metropolis. This is mainly due to the fact that the elderly are more vulnerable to various chronic diseases, such as cancer, cardiovascular diseases, and neurological disorders. In addition to this, the whole process of wound healing takes more time in the geriatric population, due to the slower collagen production in their bodies and the reduced elasticity of their skin.

Due to these factors, theHong Kong wound care market industry is expected to generate $80.7 million revenue by 2030, witnessing a CAGR of 5.4% during the forecast period (2020–2030). There are two types of wound care products available in the megacity, advanced and traditional. Of these, the advanced wound care products, owing to their ability to induce swift healing with minimal discomfort to patients, are expected to record higher demand in the coming years.  

This is also why such products are currently a rage in the Hong Kong wound care market, and the preference of an increasing number of consumers is shifting toward advanced wound care therapies. The main reasons behind this shifting preference are the numerous advantages provided by such therapies and products, such as their ability to provide rapid healing and quick relief to the patients. Moreover, the advanced wound care procedures carry lower risks of infection, as compared to the conventional methods of wound care. For instance, Biatain alginate, offered by Coloplast A/S, is a highly absorbent alginate dressing, applied on moderate-to-heavy exuding wounds.

Hence, it can be concluded that owing to the soaring geriatric population and increasing occurrence of numerous chronic diseases and ailments in this global financial hub, the demand for wound care products and therapies will witness a massive growth in the coming years. 

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Metaverse Market Witnessing Unimaginable Growth; To Cross $1.5 Trillion by 2030

The global metaverse market is driven by burgeoning investment in R&D activities, the rising adoption of the latest VR and AR solutions to develop patient output and the entire surgical atmosphere, and the snowballing demand for metaverse, thereby assisting in trading digital assets via cryptocurrency. In 2021, the market stood at $148.5 billion, and it is predicted to touch $1,542.9 billion by 2030. The market will witness a 29.7% CAGR because of the existence of highly competitive metaverse-focused companies being engaged in many partnerships and collaborations to develop a wide range of products.

The outbreak of COVID-19 had disrupted several markets globally, but the metaverse industry was one among the few exceptions: it exhibited magnificent figures amid the pandemic. The period not only witnessed the digital platform's reliability but also surged investments. Furthermore, lockdowns were imposed on several developing and developed nations, offering extravagant opportunities to the new market entrants. This is because they had more time available at home to focus on business credentials and strengthen the foundations of their business. For example, the number of Fortnite players increased by 100 million from 2019 to 2020.

Metaverse Market Analysis by P&S Intelligence 

The metaverse is an internet-based reality. As the metaverse market will expand, its Non-fungible token (NFT) are scarce and rare and will exhibit lucrative opportunities by growing from nothing to everything. Emerging ecosystems backed by blockchain technology will result in the generation of high revenue due to the authentication and traceability built on interoperable frameworks. A snowballing investment is made on improving the blockchain technologies and NFT by the real-estate dealers for a better reach among the young consumers through brand-building and to inculcate the trust of ownership.

The APAC metaverse industry will advance at the highest CAGR of at least 30% in the coming years. This can be credited to robust digitalization in South Korea, Japan, India, and China, coupled with the surging adoption of AR/VR to adapt to the current marke5t dynamics and shifts in tastes & preferences of consumers. Nonetheless, North America ruled the market in 2021 because of the swift integration of smart devices, snowballing demand for VR/AR, and surging requirements for smartphones.

Hence, the existence of highly competitive metaverse-focused corporations engaged in many partnerships and collaborations to develop a wide range of products will drive the market.

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