Why Is North America Dominating Carbon Capture, Utilization, and Storage Market?

By 2030, the carbon capture, utilization, and storage market are expected to generate $17,835.6 million value, from $2,037.0 million in 2021. The increasing emphasis on lowering carbon emissions, the government plans to achieve carbon neutrality in 2050, and the growing demand for CO2-EOR methods are the main drivers cited for the market's rise.

Startups engaged in the creation of cutting-edge carbon capture technology are receiving funding from investors and venture capital firms. For instance, Despite the COVID-19 epidemic, VC-backed firms got investments totaling over $325 million in 2020, an increase of almost $75 million from the previous year.

Additionally, commercial methods for deploying CCUS systems have shifted away from the development of massive, standalone installations and toward the development of industrial hubs with common CO2 storage and transfer facilities. The installations offer large economies of scale and low commercial risks because of innovative business models that concentrate on transportation and storage services.

In the past, the North American carbon capture, utilization, and storage market contributed to more than 35% of total revenue; this position is anticipated to hold during the projection period. This is attributed to both the rising integration of CCUS projects with anticipated liquified natural gas developments in the region and the rising demand for goods and fuels with a smaller carbon footprint.

However, over the projection period, the APAC carbon capture, utilization, and storage market are anticipated to develop at the quickest rate. This is because most brand-new projects are being developed in developing nations, where pollution is high. There are additional benefits for businesses to locate their projects in APAC due to the region's excellent geology for carbon sequestration.

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Frequent Power Outages Help the Growth of Malaysia Diesel Generator Set Market

The Malaysia diesel generator set market was around $83 million in 2021, and it will propel at a growth rate of about 2% in the coming years, to reach nearly $98 million by 2030. This is due to the fact that the Malaysian government is focusing on growing infra development, with plans to construct 1 million houses for catering to people below the 40% income bracket by 2029.

The above 750 kVA generator set had the largest demand in the Malaysia diesel generator set market in 2021, and it will grow at a growth rate of around 2% in the near future. The demand for these generators chiefly arises because of applications in the industrial sector. During the last 20 years, the country has manufactured 40% of the global production of hard disk drives, and it is one of the major exporters, leading to industrial sector growth.

In 2021, the demand from the commercial sector in Malaysia diesel generator set market  was the highest, and it will increase at a growth rate of 2% by the end of this decade. Over the last 10 years, the nation has become a popular center for medical tourism, ICT, and logistical services. Likewise, it is situated at the center of the market in Southeast Asia.

Key players in the Malaysia diesel generator set market are involved in numerous strategic developments, for instance, product introduction, to remain competitive in the market. For example, Cummins Inc. revealed the EC-AGS+ wireless system in September 2021, for Onan gas and diesel generators. It lets users regulate the generators with the help of a mobile app. The wireless control lets autonomous, manual, and voice activation start diesel generator sets, offers reminders for maintenance via Bluetooth, and allows climate monitoring.

The demand for diesel generators in Malaysia is increasing day by day, because of the frequent power outages, and a need for an uninterrupted power supply.

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How Does Expansion of Healthcare Sector Boost Medical Polymer Market?

In 2021, the medical polymer market generated $17,842.5 million, and it is expected to reach $36,035.3 in 2030, advancing at a rate of 8.1% from 2021 to 2030, ascribed to the market proliferation, and rise in the expenditure on healthcare.  Moreover, North America captures the massive market share, accounting for 41.8%, led by the surge of healthcare facilities and advancements in medical technology. The rise in the U.S. population is also expected to increase the demand for hip and knee implants, dental base materials, and tooth implants further increasing the demand for medical-grade polymers.

The North America medical polymer market is expected to grow by the rising demand for such plastics in pharmaceutical packaging applications, due to expansion of the Canada’s pharmaceutical industry. In addition, numerous manufacturers of medical components and devices in the U.S. are utilizing medical polymers for their products. In addition, the penetration of the major medical-grade plastics manufacturers and suppliers boosts the market.

Europe is the next-significant contributor to the medical polymer market, attributed to favorable reimbursement and growing political support for medical devices. In addition to this, the upgradation in the medical device directives is expected to enhance the medical products with technological advancements and increased safety. It is thus expected to result in a market boost, causing a significant rise in the demand for the project.

The surge in the usage of medical polymers in the production of medical devices, packaging, and surgical instruments, resulted in the rising requirement for polymers, due to the massive increase in the healthcare industry. Moreover, plastics are widely used in the packaging of medical devices, wound care, orthopedic soft goods, and other healthcare products.

Therefore, the expansion of the healthcare industry, with increasing demand for medical devices, and the rising elderly population proliferate the market.

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How Does Emerging Economies Impact Medical Polyether Ether Ketone Market?

The medical polyether ether ketone market generated $582.4 million in 2021, and it is expected to rise to $1,146.6 million in 2030, advancing at a rate of 7.8% from 2021 to 2030, ascribed to the massive replacement of the metallic implants made from PEEK, due to increasing government funding to healthcare services and the emergence of private players.

Moreover, high-performance plastic garners have a high preference among materials for trauma fixation, dental implants, cardiovascular devices, and numerous other applications. In addition, the rise in the geriatric population in Asian, North American, and European countries, along with rising sports injuries are expected to boost the market.

The rapid industrialization, and increase in the research activities in the developing countries, more preferably in the APAC region boost the medical polyether ether ketone market, due to an increase in the manufacturing of PEEK-based medical products. In addition, the major players in the market are focusing on a range of strategic plans for business development, such as investments, partnerships, and product launches to advance their position in the market. Thus, it has resulted in high-grade polymers for devices & medical implants.

North America contributes significant revenue to the medical PEEK market, ascribed to the expansion of healthcare facilities, and innovations in medical devices. Moreover, the surging requirement for stents, heart valves, spine implants, and knee and hip implants led by the growing population in the country, results in an increase in medical-grade plastics usage. 

Moreover, the penetration of the medical devices and component manufacturers that utilize PEEK in the country boosts the market. Along with this, the presence of major manufacturing companies in the U.S. drives the region’s market. 

Therefore, the increasing use of PEEK as titanium substituent in dental implants and prevalence of the cardiac diseases propel the market.

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How Does Digitization in Manufacturing Sector Impact Motion Control Market?

 The motion control market generated a revenue of $14,887.5 million in 2021, and it is expected to contribute $23,286.4 million in 2030, progressing at a rate of 5.1% from 2021 to 2030, ascribed to the rising demand for industrial robots and integration of components with the motion control systems for convenient use.

Moreover, the evolving motion control standards and protocols propel the market, for example, the OPC UA TSN protocol controls the entire system, while MQTT is a lightweight protocol relevant to the communication between two applications. MQTT is integrated into a single product and allows a drive or sensor to extract data from a device and send it to the cloud. 

Motion Control Industry Analysis and Growth Forecast, 2030

Additionally, the advent of digitization in the manufacturing sector, fuelled by the industry 4.0 revolution expands the motion control market. The key contributor to the success of the industry 4.0 initiatives is mechatronics motion control. For example, smart servo technology facilitates inexpensive, high-efficiency, eco-friendly, safe, and compact machinery.

The motor is the crucial component in the motion control systems, and it captures 40% of the market share, due to an increase in the preference of manufacturers toward more energy-efficient motors to further reduce the operational cost and environmental footprint. Moreover, drives are predicted to experience exponential growth in the near future, at approx. rate of 5%, which regulated the speed of the electric motors.

Closed-loop systems dominate the market, attributed to their wide usage across industries, owing to numerous functional benefits of closed-loop systems than open-loop systems that involve no human intervention, due to complete automation.

The automotive industry contributes significant revenue to the motion control market, amounting to 20%, and it is expected to retain its position in the near future, due to massive autonomous driving technologies adoption. Companies are focusing on launching automated driving or self-driving facilitating motion control solutions. For

General variants hold an extensive proportion of the motion control market, and they are projected to experience substantial growth in the near future. The surge in the GMC category is led by the wide GMC servo motors and servo drives application across industries, primarily electronics, semiconductors, and food and beverages. For instance, Nexteer Automotive partnering with Continental Automotive launched a joint venture, CNXMotion, integrated with the Brake-to-Steer technology and steer-by-wire system variants across various SAE levels of driving automation.

The next significant end user of the motion control market is the semiconductor & electronics industry, and it is expected to witness a rise in the demand for the solution at the highest growth rate, due to the increase in adoption of the drives, high-tech motors, and motion controllers. The demand is also rising due to the complexities of the electronics and semiconductor manufacturing process, resulting in the increasing acceptance of miniature devices and microelectronics development.

APAC captures the largest share of the motion control market, accounting for 50%, and it is predicted to retain its position in the near future, due to the rising machine tools production and use of customized robots for varying applications. Moreover, the expansion of the manufacturing plants and quality machine development process is predicted to cause market propulsion.

Therefore, the new product launches in the automotive industry to support self-driving or autonomous driving boost the market.

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Why Is North America Ruling the Data Monetization Market?

The major drivers for the global data monetization market are the swift adoption of technologically advanced devices, reduced costs of data storage, and a large amount of data generation. In 2021, the market stood at $2,092.5 million, and it is predicted to reach $9,421.4 million by 2030, advancing at an 18.2% compound annual growth rate from 2021 to 2030. Furthermore, greater deployment of visualization solutions and data analytics will augment the growth of the market.  

Within the method segment, analytics-enabled platform-as-a-service dominates the data monetization market, accounting for approximately 40% share. Moreover, the demand for this service will continue to exhibit the same trend in the forecast period as well, attaining half the market share by 2030. This can be attributed to its ability to offer the assistance of an analytics platform and business intelligence in real-time data analytics, on account of its fewer operation restrictions. 

Data Monetization Industry Analysis and Growth Forecast 2030

In addition, embedded analytics will generate the second-highest revenue in the coming years, as it helps developers in improving customer satisfaction. Furthermore, the category in the data monetization market will advance at an over 17% CAGR in the coming years. This can be ascribed to its extensive utilization in developers’ applications because it offers better visually appealing analytics functions and provides technologically advanced services. Data discovery, machine learning, predictive analytics, data analytics, and reporting are some of the most commonly used embedded analytics. Additionally, it is infused in CRM and ERP applications by corporations for utmost customer satisfaction and enhanced market position.

In 2021, the BFSI sector generates about 23% revenue for companies offering data monetization services and software. This is credited to snowballing count of financial institutions and banks, leading to a voluminous data generation. Additionally, the ISO 20022 standardization, migration to real-time payment infrastructures, rise in the level of competition, and paradigm shifts in preferences of consumers will propel market growth in this category. Furthermore, the telecommunications & IT sector holds the second position in the market, as this sector generates huge amounts of data, due to the increasing number of mobile devices such as smartphones.

Within the enterprise size segment, the data monetization market is bifurcated into SMEs and large enterprises. Between the two, the large enterprises hold the greater share, of 70%. This is because of the gradual attempts being made to improve efficiency, maximize production, and acquire a larger share by the swift deployment of technologically advanced devices by large organizations. In addition, big companies have several revenue streams and intricate corporate networks, as a result, there is voluminous data generation, which, in turn, drives the market in this category.

Geographically, North America leads the data monetization market with a 35% share. This is due to the existence of a huge number of data providers, coupled with a swift integration of data monetization platforms, software, and services. Being home to the highest count of data monetization vendors within the country, the U.S. generates a higher revenue in the regional market. Moreover, an approximately 14% CAGR will be witnessed by the Canadian market in the region, due to the skyrocketing infusion of digital innovations into organizational techniques within numerous sectors and industries.

Hence, the lower costs of data storage and the high amount of data generation will provide lucrative opportunities to the market players.

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North America has the Highest Demand of Ultra-High Molecular Weight Polyethylene

The size of the ultra-high molecular weight polyethylene market in the year 2021 was about $1,896 million, and it will advance at a growth rate of above 10% in the years to come, to reach about $4,494 million by 2030. The advent of new uses in the healthcare and metal industry, the increase in requirement for a superior quality polymer in the making of bulletproof jackets for the military, and the expansion in the automotive sector will boost the inclusive market growth.

North America was the leader of the ultra-high molecular weight polyethylene market, with a share in excess of 30% in 2021. The increasing count of knee and hip replacement procedures, because of the rising aging population will increase the demand for UHMWPE. Furthermore, the increasing count of car manufacturing plants in Canada and the U.S. is enhancing the demand for battery separators and will have a favorable impact on industrial growth.

The APAC ultra-high molecular weight polyethylene market will grow at a significant rate, of in excess of 10%, during the forecast period, because of the development in key end-use businesses in India, Indonesia, Malaysia, Vietnam, and the Peoples Republic. The regional market will also be driven by automotive industrial hubs in the Peoples’ Republic, Japan, and South Korea. Japan's increasing senior population has been an additional key driver for the regional industry.

Furthermore, the surging requirement and the increasing purchasing power in the nations for example India and China will give possibilities for companies to expand in the years to come. Likewise, the reported upsurge in healthcare expenditure, as a result of the growing disposable income, in main emerging markets will drive the expansion of the market in the region.

The attitude for this ultra-high molecular weight polyethylene market is rather promising, as the requirement and production volume of UHMWPE will grow in the future. The current industrial capacity may have to increase at a momentous pace, which offers quite a few prospects for investors who want to fund manufacturing platforms to advance scale in some regions. This will eventually increase the sales of this product, as it is one of the most significant elements in the healthcare sector.

With the increase in demand for superior grade polymers, and the development of the automotive industry, there is an increasing need for ultra-high molecular weight polyethylene.

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