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 Will APAC Dominate Epoxy Adhesive Market?

By 2030, the worldwide epoxy adhesive market is predicted to touch $13,483.9 million from $8,217.9 million in 2021. The market will advance at a 5.7% CAGR from 2021 to 2030 owing to the rising need for adhesives from the marine, cement, plastic, construction, and automotive sectors. To meet the environmental standards, corporations are developing green sealants and adhesives over chemical adhesives. They are engaging in advancing the technologies for the production of these green products. For instance, the RENUVA technology for sealants and adhesives has been developed by The Dow Chemical Company to enhance water resistance.

Based on end user, the building and construction sector ruled the epoxy adhesive market with revenue of approximately $2.3 billion in 2021. This can be attributed to the adaptability of the adhesives in the construction and building sector. Their dominance can be justified by their varied application in surface repair, gap filling, and lamination. Their application can be extended to stainless steel, bricks, ceramics & porcelain, cellular PVC, and fiberglass. Hence, with the growth in the construction of residential, industrial, and commercial spaces, the consumption of these bonding agents is booming.

Based on type, the epoxy adhesive market can be bifurcated into one component and two-component. The one-component category holds the larger share because of the enhanced features of these variants, including solvent-free mixture and fast curing. Since no mixing is required in this variant, it is more appropriate for assembly lines as it uncomplicates the manufacturing process and makes it effortless. However, there will be an increasing requirement for two component-based epoxy adhesives in the forecast period, especially in construction activities.

APAC dominates the epoxy adhesive market, attributed to its massive electrical, electronics, & semiconductor; automotive, and construction industries. China is the highest revenue generator in this region because it is among the biggest exporters of sealants and adhesives, home to all important market players’ manufacturing units because of economical labor, and the largest country in terms of purchasing power parity. In addition, India will also witness growth due to the rising count of consumers, cheap labor, and expanding automotive industry.

Hence, epoxy adhesive demand is burgeoning across the globe due to the growth of the automotive and construction industries.

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How Macroeconomic Development Drives India Prime Power Diesel Generators Market Growth?

The Indian prime power diesel generators market is being driven by the increasing infrastructure expenditures and a substantial power deficit. Because of these factors, the market is projected to reach $356.3 million in 2030 from $143.6 million in 2021, at a CAGR of 10.6% from 2021 to 2030. The commercial sector has a strong need for medium- and high-power diesel gensets. Similarly, the substantial expansion in the manufacturing and construction industries is likely to fuel market growth.

Furthermore, India's burgeoning telecommunications industry is a major driver for the Indian prime power diesel generators market. This industry is concentrating on overcoming one of the most-significant challenges of unpredictable power supplies from the grid. As a result, prime power diesel generators are commonly used by telecom tower operators. The number of telephone users in India rose by 0.71% from January 2021 to the end of February 2021, as per the Telecom Regulatory Authority of India (TRAI). This increases the strain on telecommunications businesses to maintain the operationality of the towers despite the inconsistent grid supplies.

By 2030, the commercial application category is set to account for over 70% of the Indian prime power diesel generators market revenue. This will be due to the high need for a constant electrical supply in commercial facilities, such as hotels, train stations, phone exchanges, and retail stores. Prime power diesel generators serve as a backup power source and a type of insurance, allowing businesses to avoid losing money due to a lack of adequate power for operations. As a result, in 2021, firms selling these devices in the country made over 60% of their income from commercial sales.

Uttar Pradesh has the highest demand for diesel gensets for prime power applications, and it is projected to continue to do so in the future. In 2021, the state had an Indian prime power diesel generators market share of over 10% and produced over $20 million revenue from genset sales. This was owing to the increasing expenditures in the telecom industry, rising power demand in the state's residential facilities, and rapid commercial infrastructure expansion. In addition, the rebound in the Indian commercial and residential real estate industries, commissioning of new construction projects, and a comeback in industrial investment would provide attractive prospects for participants in the future years.

Hence, the growth of the commercial sector is expected to drive the demand for gensets to offer prime power in India.

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Why Does APAC Hold Largest Share in Lithium-Ion Battery Market?

Due to the increasing demand for renewable energy and the high adoption of lithium-ion batteries in consumer electronics, the global lithium-ion battery market was worth $46,142.1 million in 2021. By 2030, with a high CAGR of 15.3%, the market size is expected to reach $165,847.8 million. The key factors responsible for the rising usage of these energy storage devices include a growing focus on environment-friendly practices, rising energy demand, and low operating and maintenance cost of lithium-ion batteries.

In 2021, Li-NMC versions accounted for 31.4% of the total lithium-ion battery market revenue. Because of their long life, large storage capacity, and excellent temperature stability, Li-NMC batteries are mainly utilized in electric vehicles and consumer devices. Moreover, battery researchers and designers are concentrating their efforts on reducing the cobalt percentage in the NMC cathode, which will decrease the cost of the battery and propel the market in the coming years. Furthermore, because these energy storage systems have high specific energy, most automotive businesses use them in EVs.

According to the United Nations, transportation networks have a substantial environmental impact, accounting for around 25% of the worldwide greenhouse gas emissions. As a result, governments are encouraging the usage of EVs to achieve a sustainable and environment-friendly lifestyle. Furthermore, as a result of the increasing oil costs, the demand for EVs has risen considerably in recent years, thus favoring the lithium-ion battery market. For example, the price of diesel has risen from $2.56 per gallon to $3.54 per gallon from 2020 to 2022, as per the U.S. Energy Information Administration.

The existing production capacity needs to be significantly increased, which presents an opportunity for businesses looking to invest in the lithium-ion battery market in certain locations. The acceptance of these solutions across a wide range of applications would be catalyzed by the lowering component prices, mass production, and the adoption of innovative technologies to enhance battery capacity and decrease the price. The cost of lithium-ion batteries has dropped by 85% in the last decade, thus making EVs and energy storage devices financially viable.

Li-ion battery recycling trends, favorable government legislations, advancements in environment-friendly technology, and expanding investor stake in the business are all contributing to an increase in the worldwide production of sustainable alternatives. Because of their high specific power/energy density, lithium-ion batteries have overcome the intermittency difficulties connected with renewable energy. They may be used to store the excess energy produced by wind and solar facilities during low-demand periods and then sell it to the market when the demand spikes.

In 2021, the APAC lithium-ion battery market earned $24,586.2 million in sales and held the largest share. Consumer electronics sales are rising in the region, which is boosting industry development. The use of these batteries is also aided by the fast technological advancements and increasing demand for smart gadgets. Moreover, electric car prices are decreasing in the region, thereby increasing the use of lithium-ion batteries in South Korea, India, Japan, and China.

Hence, the low maintenance and operating cost of lithium-ion batteries are propelling the market growth.

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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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