Why Risk Assessment and Investigation Is Expected To Grow in Maritime Surveillance Market?

Data from a range of sensors and sensor combinations working in multiple spectrum bands installed on various platforms are used to collect, analyze, combine, and share information for maritime surveillance. The global maritime surveillance market to reach $40,386.4 million by 2030. The need for these solutions is mainly driven by the increase in marine risks, such as piracy, and the rigorous rules controlling global sea trade.

Maritime Surveillance Market Revenue Estimation and Growth Forecast Report

The technology subsegment was dominated by the maritime surveillance market in 2021 with a share of 32.3%, as a result of the use of different monitoring software to keep track of whereabouts and send out warnings as needed to safeguard ships, ports, and other marine infrastructure. Ships are the primary mode of transportation for global trade, and they transport roughly 90% of the traded products.

Additionally, the demand for these devices is anticipated to be substantial due to the growing demand for new maritime security at ports and also in coastal regions, particularly in regions like Russia, LATAM, and the Caribbean where the frequency of piracy attacks and robberies has increased significantly over the past few years.

Get More Insights: Maritime Surveillance Market Revenue Estimation and Growth Forecast Report

Moreover, APAC has been the driving factor for the maritime surveillance market growth because of the growing commerce and rising maritime tensions, even as countries in North America and Europe implement cutting-edge maritime security technology.

A variety of cameras, such as fisheye, infrared, and pan-tilt-zoom (PTZ) cameras, are used at ports. For instance, IMO approved the LRIT System, a global ship tracking system, to instantly follow ships throughout the globe. Additionally, there are requirements for the complete radiological and nuclear hazard screening of marine cargo with a destination in the U. S.

After the 9/11 terrorist attacks, U.S. CBP implemented several measures to protect cargo containers. In the months following the destruction of the Twin Towers, the Container Security Initiative sent CBP agents abroad to work with foreign governments to identify and analyze high-risk containers before they are put onto ships bound for the U.S.

The category of risk analysis and investigation will generate $1,193.1 million in the maritime surveillance market by 2030. When handling sensitive products, risk assessment is essential since the threat of maritime terrorism, piracy, gunrunning, and other non-traditional seaborne assaults has increased considerably over the past ten years. Because it affects marine commerce, the security of the country and its residents depends on the health of its coast, which is also related to economic growth.

Because of this, the usage of various types of software for evaluating the risks associated with sailing and looking into particular occurrences and potential threats is becoming more relevant, which is fueling the growth of the maritime surveillance market. Planning security measures and system-wide processes to prevent tampering with offshore installations and marine transportation is made easier by risk assessment and investigation.

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Why Does Rotatory Category Dominate Air Compressor Market?

A diesel engine or electric motor powers an air compressor, a mechanical device that converts energy from one form to another and stores it in the pressured air. Powered machine tools, ventilation systems, HVAC control systems, and other industrial and non-industrial uses for powered air employ pressurized air.

Air compressors use the kinetic energy stored in the compressed air to deliver the required power to various machinery, tools, and equipment in different industrial verticals. Additionally, the continuous compression supports the transportation of gases and liquids, the production of goods connected to petrochemistry, and cooling applications.

Air Compressor Market Size and Share Analysis Air Compressor Market Size and Share Analysis

It has various uses, including cleaning, vacuum packing, spray painting, and other things. Additionally, a wide range of end customers employs air compressors for dehydration, air blowing, cleaning, powering tools, and medical equipment.

Rapid industrialization in developing nations is a crucial element driving the demand for air compressors. The market is expanding because industries worldwide are increasing their need for energy-efficient air compressors.

The air compressor market is predicted to touch $45,888.0 million by 2030. This is due to the growing trend toward increasing energy efficiency, decarbonizing various sectors, including semiconductors and electronics manufacturing, digitalizing industrial operations, and using cloud-chain and automation technologies in different industrial processes.

Demand for Energy-Efficient Compressors is Growing

Air compressors are utilized by several sectors, such as manufacturing, oil and gas, chemical, and power generating. Numerous sectors have implemented cost-effective manufacturing techniques to solve the drawbacks of traditional production methods.

Numerous industries have a sizable need for energy-efficiency compressors because of their benefits, including cost-effectiveness and efficient energy delivery. The rigorous environmental laws by multiple growing economies, notably China and India, have further fueled demand for these devices.

To achieve the highest level of the energy economy, end users choose VSD control systems over on-and-off-control compressors because the former offers the required flow, maintains a constant pipe pressure, and makes leakage detection possible.

A monitored VSD device offers high energy savings. It features an AC drive, which keeps track of the speed of the functional unit and avoids using extra energy compared to a predetermined-speed equivalent. 

Which Category Lead Industry?

Historically, the rotatory category holds the most significant share of about 45.0% because of these types' excellent efficiency and durable construction. Additionally, the category's expansion is aided by the numerous standards issued by government organizations throughout the globe to improve the output energy and efficiency optimization of the rotatory type.

The sales potential is also increased by the rotatory compressor's numerous advantages, including its longer lifespan and significant battery energy savings. Additionally, it is anticipated that the equipment's costly installation and maintenance costs will slow expansion in the upcoming years.

But as technology has advanced, air compressors' compression capacities have increased, which is expected to increase the demand for air compressors. Developing portable and energy-efficient air compressor designs have been widely embraced by businesses worldwide.

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Why Is Europe Leading Region in Global Cordless Power Tools Market?

Battery-powered portable tools known as cordless power tools are ideal for various DIY projects around the home and office. Both brushed and brushless motors may be added to operate these small, wireless tools.

Cordless power tools are often utilized in the business and at home. Long-lasting batteries are a must for cordless power tools, which must be sturdy, small, and lightweight. The increasing usage of Li-ion batteries drives the need for cordless power tools. The global cordless power tools market is expected to reach $46,729.5 million by 2030.

Technology development has produced several tools and equipment employed in many different sectors. Due to the need for efficiency, power tools are exceeding traditional tooling in both the residential and commercial sectors. For instance, there is a lot of pressure on the construction sector to provide cutting-edge products that minimize human labor.

Power tools, such as assembly tools, are precision equipment that needs ongoing maintenance of their stirring components. For specific activities, power tools must be recalibrated at predetermined times. Power tool motors, connections, batteries, and other components age and degrade with time.

The proper operation of tools needs routine maintenance, which is considerably costly. Customers in undeveloped nations favor human labor over power tool maintenance.

Therefore, the high cost of maintenance is restricting the growth of the cordless power tools market. Similar to this, power tool maintenance and repair costs increase with time. Therefore, customers in emerging nations rely heavily on rental tools, impeding their growth.

Wind turbine installation involves a significant amount of electric fastening equipment. The maintenance and inspection of tower procedures require these fastening tools. A compression factor is chosen to maintain precision, and connections are torqued in accordance. Electric fastening equipment should be the appropriate power tools for this industry since installation requires special force.

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High Demand for Electric Rickshaw Batteries Led by Increasing Traction of Vehicles Due to Low Running Cost

 Do you have ever experienced traveling on e-rickshaws? It is a convenient travel mode in metro cities to cover short distances. The nine to five workforces heavily rely on e-rickshaws to reach the metro stations at their nearby location. It is quite common to see people with office bags in the morning looking for e-rickshaws to reach metro stations, and from metro stations to reach offices. It goes the same during evenings they take e-rickshaws from nearby office locations to reach metro stations, and after their metro travel, they further take e-rickshaws to reach home.

Inexpensive Cost of E-Rickshaws

Instead of picking motor vehicles to cover such short distances, e-rickshaws are massively encouraged as a convenient travel facility. There are numerous benefits of this transport. It is extremely cheap as compared to auto-rickshaws, which can sufficiently accommodate two passengers. An e-rickshaw cost amount from Rs. 60 thousand to Rs. 1.1 lakhs, while an auto-rickshaw costs between Rs. 1.5 lakhs to Rs. 3 lakhs.

Employment Generation By E-Rickshaws

The e-rickshaws usually experience fewer maintenance issues, and hence save cost. Along, with this, the rising popularity of this travel service provides employment to a large number of people. The cycle-rickshaw drivers are massively shifting toward e-rickshaws due to higher convenience and rising preference for this travel service over cycle-rickshaws. The running cost of e-rickshaws for a distance of 2.1 to 2.3 km is only Rs. 0.4.

Environment Benefits of E-Rickshaws

The e-rickshaw pose numerous environmental benefits. It includes alleviating air and noise pollution caused by transport. Around 1,036.6 tonnes of carbon dioxide emissions can be eliminated by replacing CNG auto-rickshaws with e-rickshaws.

Government Initiatives Driving E-Rickshaw Sales

Moreover, the government initiatives encourage e-rickshaw traction. It includes National Electric Mobility Mission, 2013, FAME I and II, Pradhan Mantri Mudra Yojana, 2015, and National Urban Livelihood Mission 2013. Along with these initiatives, the electric vehicle policy of the state in the forms of loans, direct subsidies, and regulatory framework also supports the rising adoption of the e-rickshaws.

Increasing Sales of Electric Rickshaws Batteries 

In 2021, the sales of e-rickshaw batteries contributed $141.3 million in revenue and are expected to rise to $295.4 million by 2030, advancing T ~8.5% rate from 2021 to 2030. Most of the e-rickshaws sales go unregistered due to their rising popularity and unorganized manufacturing companies. Presently, the registered sales of e-rickshaws account for 15,00,000, with an additional sale of 11,000 new e-rickshaws every month.

The unorganized players sell around 10,000 e-rickshaws per month, while organized players monthly contribute to sales of 1,500 to 2,000 e-rickshaws. E-rickshaws run on electric charge provided by batteries, and hence increasing adoption of e-rickshaws lead to rising sales of electric rickshaw batteries.

Rising Preference for Li-ion Battery 

There are usually two types of batteries used in electric rickshaws, li-ion battery, and lead-ion battery. Li-ion batteries have a higher preference over the lead-ion battery. It is due to their high capacity, lightweight, and availability in industry sizes. The low-discharge rate of lithium-ion batteries supports the maintenance of charge for a longer duration. It can get completely charged within 1 to 3 hours.

Therefore, the inexpensive running cost and high convenience offered by e-rickshaws for short-distance travel, including government initiatives drive the sales of e-rickshaws in India.

Get More Details India Electric Rickshaw Battery Market Demand and Business Opportunities 

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Rising Interest in Personal Grooming Boosts U.S. Razor Market

 In 2021, the U.S. razor market generated $2,753.4 million revenue, and it is expected to advance at a rate of 0.96% from 2021 to 2030, and reach $3,001.9 million by 2030, attributed to the strong presence of the key manufacturers in the country. For instance, the razor industry is dominated by Gillette, owned by Procter & Gamble company. Moreover, the growing interest of the younger population in male grooming to enhance the look is expected to rise in the coming years, resulting in market proliferation. 

U.S. Razor Market Size and Share Analysis Forecast to 2030

The cartridge razor category, under the type segment, captures the highest U.S. razor market revenue, accounting for 40% share, amounting to $1.2 billion, attributed to the rising popularity of the cartridge razors facilitated by increased convenience and faster operation. It is easier to replace as it is less prone to cuts. Another major factor behind the rapid growth of cartridge razors is their effective marketing. 

Electric razors are predicted to witness the fastest growth in the U.S. razor market, advancing at a rate of 4% from 2021 to 2030. It is attributed to its various benefits such as longevity and lower overall usage costs and a rising trend of growing beards. A big chunk of the U.S. population prefers electric razors, for instance around 80.22 million people used electric and battery shavers in 2019, and the number is expected to reach around 85.6 million by 2023.  

The mass category acquires significant revenue in the U.S. razor market, accounting for a 50% share, and it is expected to retain the same position in the coming years. It is attributed to its properties such as being disposable, safe usage, and straight shape, and it is made up of inexpensive materials, including injection-molded polycarbonate. Single blade razors contribute to the major part of the mass category and thus become a default choice for people having irritated skin, dryness, or acne. 

The rising concern of the population toward personal grooming expands the U.S. razor market. Both men and women are becoming more aware of personal grooming nowadays, with their growing interest in haircare and look enhancement. Moreover, the rising focus on personal grooming is witnessed in men, as they have started to visit male salons and spas more frequently to get professional advice for haircuts and shaves. 

As per The Procter & Gamble Company, shaving dominates the men’s grooming segment, and it is expected to follow the same trend in the near future. Moreover, the female population also uses razors to remove hairs from the underarms and legs to smoothen them as a part of their personal grooming. Therefore, the increased demand for personal grooming products expands the market. 

The rise in competition among the major razor providers is expected to boost the U.S. razor market, attributed to the growing focus of razor companies to develop new products and technological advancements to stand out in the market. For instance, Planet Kind, launched by Gillette has utilized 85% recycled plastic and 85% recycled paper or infinity recyclable aluminum. The razor handle is also made of 60% recycled plastic. 

Therefore, the strong presence of top players in the country and the growing focus of the young population on personal grooming leads to a market boom. 

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Seaweed Protein Market Is on Track To Touch $1,397.7 Million Value by 2030

 An increasing trend is the extraction of protein from edible seaweeds for a variety of medical uses. Revenue from the worldwide seaweed protein market, which was $513.7 million in 2021, is predicted to touch $1,397.7 million by 2030, growing at an 11.8% CAGR from 2021 to 2030. It is urged to adopt alternative protein sources since, unlike raising cattle, they do not consume land or emit greenhouse gases. Furthermore, the intake of meat proteins may increase due to the possibility of contagious viral diseases in animals.

Seaweed Protein Market Analysis Demand Forecast Through 2030

The Gracilaria chilensis is most significant seaweed crop grown in Chile, accounts for up to 100% of all the biomass produced by aquaculture. Given that local fishers are mostly responsible for planting and harvesting it, it has had a favorable socioeconomic influence on residents of coastal communities.

Over the past ten years, seaweed production in Chile has increased dramatically—by more than 400%. The second-most popular export from Chile is dehydrated seaweed, with over two-thirds living in China and the remainder going to Denmark, Japan, France, Canada, and Norway.

Around 50% of seaweeds are grown worldwide, primarily red seaweeds. Red seaweed proteins account for over 70% of the seaweed protein market globally. The red seaweed known as nori has the highest measured protein level at up to 47%.

Red seaweeds are useful to humans primarily as a food product binder and as a bacterial substrate in scientific settings. Carrageenan, a substance used in cosmetics, food processing, and other industries, is produced using Eucheuma and kappaphycus. When compared to alternative approaches, seaweed extracts produced using the conventional alkaline extraction process provide higher yields. However, these techniques of protein extraction take a long time and use a lot of solvents, and the extraction effectiveness is only moderate.

The seaweed protein market dominates by traditional methods of extraction, accounting for around 55% of total sales. An extensive study revealed that enzymatic pre-treatment with a mixture of polysaccharides, coupled with alkaline extraction, is the most effective method and will provide the best yield.

For further processing, China has served as the primary importer of both edible and inedible seaweed. In a similar vein, the Philippines is China's second-largest rival for carrageenan exports, both semi-processed and processed. About 60% of the global production of seaweeds and hydrocolloids is consumed in the APAC.

Over the past ten years, the Philippines has seen a more than 40% growth in carrageenan exports. The largest seaweed protein market for carrageenan is the U.S., which is coupled with the European Union, Brazil, Indonesia, Mexico, Japan, and Thailand.

For example, the Indonesian government has given seaweeds top priority in its goal for economic growth. The rising expenditures in R&D activities to create new technologies for seaweed protein extraction and cultivation are another element boosting the growth of the seaweed protein market in the APAC region. Numerous initiatives have been started to advance farming methods and inform people about them; which has helped to raise the standard of living in coastal villages. 

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Acrylic Adhesives Market to Reach a Value of over $14,921 Million by 2030

The size of the acrylic adhesives market was over $8,964. million in 2021, and it will grow at a rate of about 6% in the near future, to reach a value of over $14,921 million by 2030. The growth is mainly because of the increasing demand for eco-friendly and scientifically advanced acrylic adhesives in different industries. These materials have an extensive range of use in transportation, packaging, woodworking, automotive, and several other areas.

Europe is the region producing acrylic adhesives in large quantities, while the U.S. can import them. Thus, the U.S. will observe a massive increase in product sales in the coming years. Economic performance will rally in Europe and North America, consequently allowing for an increase in investments in manufacturing and research and development, while the Peoples Republic and Japan withstand the existing industrial development.

APAC has the largest demand in the acrylic adhesives market because of a momentous surge in building activities, an increase in the packaging requirement from the evolving e-commerce industry, and the development of the food & beverage sector. Owing to the fast development in internet access in India and China, the e-commerce packaging requirement will expand more quickly in these countries. The surging demand for food and beverages is the reason for the continuous development of paper packaging and rigid packaging businesses in these countries.

Furthermore, these nations’ construction industries will expand in the years to come because of the rising count of planned projects, which are in the developmental phase. For example, China will have 400 airports for passengers and cargo by 2035. Aldo, the government has planned the relocation of 250 million people to megacities in the next decade.

The increasing penetration of these adhesives in the automotive and aerospace sectors has contributed significantly to the rising demand for the same across the globe.

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