A Market Place Research – Page 2543

Gaming Simulation Market: $20.76 Billion By 2030, at 15.2% of CAGR, Says Allied Market Research

The adoption of AI and cloud computing for enhanced experience and collaboration between the entertainment industry and gaming simulator companies create new opportunities in the coming years. Adoption of gaming simulation for training and analysis in various industries, surge in demand for VR headsets, and acceptance of 360-degree cameras as next-generation technology across different developing nations drive the growth of the global gaming simulation market.

Key industry players such as – 3D Perception, CXC Simulations, CKAS Mechatronics Pty Ltd., Eleetus, D-Box Technologies Inc., Play seat B.V., Hammacher Schlemmer & Company, Inc., Sony Interactive Entertainment Inc., Rseat Ltd., and Vesaro.

The global gaming simulation market garnered $4.86 billion in 2020 and is expected to generate $20.76 billion by 2030, witnessing a CAGR of 15.2% from 2021 to 2030.

The report offers detailed segmentation of the global gaming simulation market based on component, game type, end-user, and region.

Based on region, North America held the highest share in 2020, accounting for nearly two-fifths of the total share, and is estimated to maintain its dominance by 2030. However, Asia-Pacific is expected to portray the highest CAGR of 16.3% during the forecast period.

Based on component, the hardware segment accounted for the largest market share in 2020, contributing to nearly three-fifths of the total share, and is estimated to maintain its lead position during the forecast period. However, the software segment is expected to manifest the fastest CAGR of 16.9% from 2021 to 2030.

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Based on game type, the racing segment contributed to the largest share in 2020, holding nearly three-fifths of the global gaming simulation industry, and is projected to maintain its leadership status during the forecast period. However, the fighting segment is expected to portray the largest CAGR of 17.8% from 2021 to 2030.

Covid-19 Scenario:

An increased shift toward virtual and augmented reality-based simulators in different organizations and businesses with the adoption of remote working and need to provide enhanced training to their employees led to rising in demand for gaming simulation during the Covid-19 pandemic. s
A shutdown of various gaming centers and entertainment places across the globe during the lockdown led to increased adoption of online gaming. This, in turn, increased the demand for simulators.

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Lastly, this report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Enterprise Agile Transformation Services Market Expected to Reach $ 63.82 Billion by 2026

According to the report, the global enterprise agile transformation services market was pegged at $15.44 billion in 2018 and is projected to garner $63.83 billion by 2026, growing at a CAGR of 19.5% from 2019 to 2026.

Rise in need for accelerated product development, surge in need to improve teamwork and communication in enterprises, and growth of the IoT sector have boosted the growth of the global enterprise agile transformation services market. Moreover, shift in business needs supplemented the market growth. However, the frequent failure rates hamper the market growth. On the contrary, increase in adoption of agile services among non-IT industries and emerging applications of agile in growing big data complex landscape are expected to create lucrative opportunities in the near future.

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The retail segment is expected to register the fastest CAGR of 23.2% during the study period, owing to rise in digitalization and need for smooth operation efficiency. However, the IT & telecom segment accounted for the largest share in 2018, contributing to more than one-fourth of the global enterprise agile transformation services market. This is due to various constraints of the waterfall model of product development including long delivery cycles and high cost.

The global enterprise agile transformation services market across North America held the lion’s share in 2018, contributing around two-fifths of the market, owing to adopt agile transformation services at a high rate to bring improvements in operational efficiency in IT infrastructure. However, the market across the Asia-Pacific region is anticipated to manifest the fastest CAGR of 22.1% through 2026, owing to a surge in digitalization in emerging economies such as India and China.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, researchers, and students at universities. With reports on more than 60,000 niche markets with data comprising of 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients’ requirements is complemented with analyst support and customization requests.

Hand Dryer Market Size Is Expected To Reach $3,100.1 Million By 2031, Growing At A CAGR Of 12.9% | Allied Market Research

According to a new report published by Allied Market Research, titled, “Hand Dryer Market by Type, End User, and Mode of Operation: Global Opportunity Analysis and Industry Forecast, 2020–2031,” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape.

The global hand dryer market size was valued at $781.5 million in 2020, and is projected to reach $3,100.1 million by 2031, registering a CAGR of 12.9% from 2022 to 2031.

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The hand dryer market is expanding, having presence in almost all the regions. Technological advancements and adoption of new innovation in hand dryer in rising economies have boosted the prospects in the hand dryer market. In the prevailing business scenario, the demand for less noisy and less time-consuming hand dryer products is witnessing significant growth among the various end users. Adoption of effective drying technology and rise in health awareness in BRIC countries have shown increase in use of hand dryers. The increase in competition among the regional and domestic players have created numerous options to the buyers.

Porter’s five forces framework analyze the intensity of competitive rivalry by considering various parameters such as bargaining power of buyers & suppliers and threat of new entrants &substitutes. Fluctuation in raw material prices and presence of numerous market players lead to moderate bargaining power of suppliers. In addition, availability of range of products and variety seeking habit of customers results in moderate bargaining power of buyers.

The value chain analysis provides a systematic study of the key intermediaries involved in the final product manufacturing. The value chain includes R&D, raw material providers, manufacturers, distributors (retail and offline stores), and end users. This analysis helps the stakeholders to devise appropriate strategies and develop their businesses accordingly.

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The hand dryer market is segmented on the basis of type, end user, mode of operation, and region. The types of hand dryers include hot hand dryers and jet hand dryers. The jet hand dryer segment dominated the overall market in 2020, with a market share of 64.4. However, the jet hand dryer market, by volume, is expected to grow with the highest CAGR of 13.5 % during the forecast period owing to the technological advancements that are projected to reduce price of jet hand dryers.

Hand dryers are prominently used across the globe on account of hygiene management and eco-friendly technological requirements. Europe was the largest revenue generator, with a market value of $253.1 million in 2020; however, Asia-Pacific is estimated to grow at the highest CAGR of 13.3% during the forecast period.

The key market players profiled in the report include:

○ Are AB Electrolux
○ American Dryer Inc.
○ Dyson Ltd.
○ Excel Dryer Inc.
○ Hokwang Industries Co. Ltd.
○ HygenEco Systems LLC (Bio JetDrier)
○ Mitsubishi Electric Corporation
○ Palmer Fixture
○ Panasonic Corporation
○ World Dryer Corporation.

Key Benefits For Stakeholders:

○ The report provides a quantitative analysis of the current hand dryer market trends, estimations, and dynamics of the market size from 2020 to 2031 to identify the prevailing opportunities.
○ The Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
○ In-depth analysis and the market size and segmentation assist to determine the prevailing hand dryer market opportunities.
○ Drivers and restraints are analyzed depending on type in the hand dryers industry.

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Blockchain Identity Management Market : Key Factors That Are Leading The Demand Around The Global

As per the report, the global blockchain identity management market was estimated at $107 million in 2018 and is expected to hit $11.46 billion by 2026, registering a CAGR of 79.2% during the study period.

Rise in transactions transparency, surge in need to ensure quality, reliability, authenticity, and product safety, and rise in investment by retail industries in blockchain-based solutions fuel the growth of the global blockchain identity management market. On the other hand, lack of skilled experts impedes the growth to some extent. Nevertheless, rapidly changing retail sector and international trade is expected to pave the way for a number of opportunities for the key players in the industry.

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Based on service provider, the infrastructure provider segment contributed to more than half of the global blockchain identity management market share in 2018, and is expected to dominate throughout the study period. Increase in need to scale the organizations infrastructure in secure and sustainable way is driving the growth of this segment. Simultaneously, the application provider segment would showcase the fastest CAGR of 84.8% by the end of 2026. Rise in need to reduce the involvement of third parties or middlemen is the key factor boosting the market demand of this segment.

Based on organization size, the large enterprises segment accounted for more than four-fifths of the global blockchain identity management market revenue in 2018, and is anticipated to rule the roost during the estimated period. Growing need to eliminate conventional issues, innovate new solutions, and deliver concrete business outcomes are the major factors boosting the grow of the segment. At the same time, the small & medium enterprises segment would grow at the fastest CAGR of 85.7% throughout the forecast period. Increase in need to move from traditional business models to digital business fuels the growth.

Based on geography, North America held the largest share in 2018, generating nearly half of the global blockchain identity management market. This is due to the presence of major market players in this province. The region across Asia-Pacific, on the other hand, would cite the fastest CAGR of 89.7% by 2026. Growing data security concerns and customer demands are the major factors propelling the demand for blockchain among retailers in this region.

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Industrial Boilers Market Statistics: Major Factors that Can Increase the Global Demand Till 2029

The global industrial boilers market is studied across major four regional markets including North America, Europe, Asia-Pacific, and LAMEA. Europe is expected to be the largest market over the coming years in response to several factors including rapid industrialization and growing industries including FMCG, food & beverages, and power. In addition, strict regulations established by the European government pertaining to harmful emissions in the environment is further expected to complement the growth of this region. Besides this, Asia-Pacific is expected to register significant growth due to development of mega power products and environmental protection laws and the increasing demand for food products. Mega power projects in developing countries, especially China and India, are likely to boost the demand for industrial boilers in Asia-Pacific.

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High disposable income and increase in population have increased the growth of numerous industries including textile, food & beverages, and FMCG. To fulfill the increase in demand, companies are not only expanding their existing manufacturing units but also setting up new industrial plants, which, in turn, is boosting the product demand.

Moreover, stringent laws to regulate harmful emissions in the environment are likely to boost the adoption rate of industrial boilers, in turn, triggering the demand for the product.

The Brazil market is expected to be the fastest growing over the forecast period due to rapid industrialization in the country, which has resulted in growing investments in numerous sectors including automotive, agribusiness, oil & gas, and renewable energy.

Major players analyzed include IHI Corporation, AC Boilers, Dongfang Electric Corporation Ltd., Thermax Ltd., Siemens AG, Bharat Heavy Electricals Ltd., Babcock & Wilcox Enterprises, Inc., Mitsubishi Heavy Industries, Ltd., Harbin Electric Corporation, Forbes Marshall and Cheema Boilers Limited.

Key segments covered:

Type of Fuel

Oil & Gas
Fossil
Non-Fossil
Biomass

Industry Vertical

Chemicals & Petrochemicals
Paper & Pulp
Food & Beverages
Metals & Mining
Others

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Key benefits of the report:

This study presents the analytical depiction of the global Industrial Boilers market along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global Industrial Boilers market share.
The current market is quantitatively analyzed from 2022 to 2029 to highlight the global Industrial Boilers market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed global industrial boilers market analysis based on competitive intensity and how the competition will take shape in coming years.

COVID-19 Impact

The global market for industrial boilers is severely impacted by the outbreak of the COVID-19 pandemic.
The COVID-19 pandemic saw a decline in the economic growth in almost all the major countries, thus affecting consumer spending patterns.
Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap.
Thus, insufficiency in raw material supply is expected to hamper the production rate of industrial boilers, which negatively impact the market growth.

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About Us

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Downhole Tools Market Development Analysis and Growth Forecast up to 2029

Growth in unconventional resources, mainly shale gas and oil reserves along with large investments in exploration and production activities are driving the market for downhole tools. Predominance of downhole apparatuses over the conventional drilling devices lies in the ability of improving the efficiency of production from oil wells. Increasing use of downhole tools in bottom hole assembly (BHA) and in end use applications such as well intervention, and in well completion are major factors expected to fuel growth of the global downhole tools market. New mechanical advancements are developing that help lessen the gear’s manufacturing and service costs. However, high expense related with downhole tools is a key factor limiting the development of the worldwide downhole instruments showcase. Also, increasing costs of raw materials and expanding utilization of renewable energy sources are some different factors expected to hamper development of the global downhole instruments market during the forecast time period.

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Oil States International, Inc. has acquired company that is engaged in services such as oil and gas perforation system known as GEO Dynamics, Inc. In addition, it also offers downhole tools that is served in various applications such as completion, intercession, wireline and well desertion operations. Oil States predicted that GEO Dynamics’ product improvement and mutual relations with E&P operators will expand its R&D efforts and lead to improvements in its consumable product offerings in the growing markets for technology-backed products used in complex well completions. This acquisition offers important development potential that joins innovation with downhole consumable completion solutions that are perfect for the current operating condition which is described by longer horizontal lengths, expanded frac stages and a developing number of perforation clusters which assist upgrade with well productivity.

Rise in discovery of multiple reservoirs of shale oil and gas and rising offshore exploration activities in the region. Increasing population and increasing demand for energy impacting on the demand for downhole tools. Downhole tools have the capacity to drill without friction and clearing the blockage. The drilling and boring tools under downhole instruments are used for keeping pressure of production liquid’s flow along these lines, which are extensively situated by oilfield service providers.

Key players involved in Global Downhole Tools market include Schlumberger , Halliburton , Baker Hughes , Weatherford International , National Oilwell Varco Inc. , Logan Oil Tools Inc. ,Wenzel Downhole Tools Ltd. . Saint Gobain , Oil States International Inc. , United Drilling tools, and others

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Key benefits of the report:

This study presents the analytical depiction of the global downhole tools market along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global downhole tools market.
The current market is quantitatively analysed from 2020 to 2027 to highlight the global downhole tools market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed global downhole tools market analysis based on competitive intensity and how the competition will take shape in coming years.

COVID-19 scenario analysis:

The global market for downhole tools is severely impacted by the outbreak of the COVID-19 pandemic.
The COVID-19 pandemic led to a decline in the economic growth in almost all major countries, thus affecting consumer spending patterns.
Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap.
Thus, insufficiency in raw material supply is expected to hamper the production rate of downhole tools, which negatively impact the market growth.

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Electric Vehicle Charging System Market Analyzed By Business Growth, Development Factors, Applications and Future Prospects 2030

Allied Market Research published a report, titled, “Electric Vehicle Charging System Market by Product Type (Home Charging Systems and Commercial Charging Systems), Mode of Charging (Plug-In Charging System and Wireless Charging System), and Charging Voltage Level (Level 1, Level 2, and Level 3): Global Opportunity Analysis and Industry Forecast, 2019-2026.” The report provides a detailed analysis of the drivers & opportunities, wavering market trends, competitive market scenario, and market size & estimates. According to the report, the global electric vehicle charging system market was estimated at $3.18 billion in 2018 and is expected to hit $66.27 billion by 2026, registering a CAGR of 45.6% during the estimated period.

Drivers, restraints and opportunities-

Rise in production of electric vehicles, increase in adoption of electric vehicles owing to government initiatives, and surge in demand for low-emission & fuel-efficient vehicles propel the growth of the global electric vehicle charging system market. On the other hand, high cost of electric vehicles and charging infrastructure restrains the growth to certain extent. However, development of wireless charging technology and incorporation of Vehicle-To-Grid (V2g) EV Charging Stations are expected to pave the way for a number of opportunities in the industry.

The home charging systems segment to lead the trail till 2026-

Based on product type, the home charging systems segment contributed to more than four-fifths of the global electric vehicle charging system market share in 2018 and is expected to rule the roost throughout 2019–2026. The fact that home charging system does not involve any additional cost and it can charge the vehicle from an ordinary 120-V socket has augmented the growth. The commercial charging systems, on the other hand, would showcase the fastest CAGR of 49.7% by 2026. This is attributed to the fact that commercial charging systems can charge electric vehicles for longer range in lesser time.

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The plug-in charging system segment to dominate during the estimated period-

Based on mode of charging, the plug-in charging system held the major share in 2018, generating 98% of the global electric vehicle charging system market. This is due to increased demand for charging station and rising penetration of electric vehicles. At the same time, the wireless charging system is projected to register the fastest CAGR of 52.8% during 2019–2026, owing to high-end convenience to use the charger.

Asia-Pacific, followed by Europe and North America, to maintain its top status during the study period-

Based on geography, the Asia-Pacific region, followed by Europe and North America, accounted for nearly half of the global electric vehicle charging system market revenue in 2018 and is anticipated to maintain its top status in terms of revenue. Growing production of electric vehicles and rising adoption of the same due to government regulations for low-emission and fuel-efficient automobiles have augmented the growth. Simultaneously, the LAMEA region would cite the fastest CAGR of 50.9% till 2026. Increase in demand for electric vehicle charging stations in the region has propelled the growth.

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Leading players in the market-

Delphi Automotive LLP
Evatran Group, Inc.
Delta Electronics, Inc.
Siemens AG
General Electric Company
Schneider Electric SE
Eaton Corporation Plc
Robert Bosch GmbH
Tesla Motors, Inc.
ClipperCreek, Inc

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Three-Wheeler Market Insights – Growth, Challenges and Future Scope to 2028 | Atul Auto Limited, Chongqing Zongshen Tricycle Manufacture Co. Ltd

As per the report published by Allied Market Research, the global three-wheeler market was accounted for $8.42 billion in 2020, and is projected to reach $15.54 billion in 2028, growing at a CAGR of 10.3% from 2021 to 2028.

Rise in trend of last-mile connectivity, increase in demand for affordable commercial vehicle, inclination toward use of electric three-wheeler as eco-friendly & efficient solution for commute drive the growth of the global three-wheeler market. Moreover, availability of credit and financing options supplemented the market growth. However, high cost of battery and surge in fuel cost hinder the market growth. On the contrary, growing trend of shared mobility is expected to open lucrative opportunities for the market players in the future.

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Covid-19 scenario:

The Covid-19 pandemic severely affected the automotive sector as the industry witnessed a considerable drop in automotive sales and lack of raw materials.
For several low-income countries, public transport is a source of employment. However, to comply with the social distancing regulations, the public transport systems were temporarily suspended.
However, the three-wheeler provides easy customization, which is expected to reinforce its demand post-pandemic.
The global three-wheeler market is segmented on the basis of fuel type, vehicle type, and region.

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Based on fuel type, the diesel segment held the lion’s share in 2020, accounting for more than two-fifths of the market. However, the electric segment is expected to register the highest CAGR of 18.4% during the forecast period.

On the basis of vehicle type, the load carrier segment is anticipated to manifest the highest CAGR of 11.3% during the forecast period. However, the passenger carrier segment dominated the market in 2020, contributing to more than half of the market.

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The global three-wheeler market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the lion’s share in 2020, accounting for nearly two-fifths of the market. However, the market across LAMEA is estimated to register the highest CAGR of 12.2% during the forecast period.

The global three-wheeler market includes an in-depth analysis of the prime market players such as Piaggio & C.SpA, Bajaj Auto Ltd, Chongqing Zongshen Tricycle Manufacture Co. Ltd, Atul Auto Limited, Kinetic Green Energy & Power Solutions Ltd, J.S. Auto Pvt Ltd, Scooters India Limited, Mahindra & Mahindra Ltd, Terra Motors Corporation, and TVS Motor Company.

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Electric Kick Scooter Market Analysis by Advanced Technology, Trends, Forecasts to 2028 & Covid-19 Analysis | GOVECS AG, iconBIT, Jiangsu Xinri E-Vehicle Co., Ninebot

According to a recent report published by Allied Market Research, titled, “Electric Kick Scooter Market by Battery Type and Voltage: Global Opportunity Analysis and Industry Forecast, 2021–2028,” the global electric kick scooter market was valued at $2.10 billion in 2020, and is projected to reach $4.52 billion by 2028, registering a CAGR of 12.2% from 2021 to 2028.

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Europe is the highest revenue contributor, followed by Asia-Pacific, North America, and LAMEA. On the basis of forecast analysis, Europe is expected to maintain its lead during the forecast period, owing to the European Government and environmental agencies which are enacting stringent emission norms & laws that increase the demand for the electric bikes and electric scooters.

Electric kick scooter is a motorized version of the kick scooter, powered by rechargeable batteries. It is classified as a form of micro-mobility, where the rider stands in the center. It is a flexible, versatile, eco-friendly, and trendy mode of transport. Further, it is simple to operate, convenient for all age groups, and serves as an environment-friendly means of transportation, in comparison to motored vehicles. Thus, use of e-scooters is gaining popularity in the populated cities all around the world.

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Worldwide services such as Bird, Lime or Jump that allow users to rent e-kick scooters for a short distance, as an e-hail service via a booking app are becoming very popular. Thus, electric kick scooters have emerged as a cost-effective urban commute option in the recent times. In addition, these scooters help to tackle traffic congestion, owing to the smaller size, attain higher speeds with lesser effort, and gain from the advantages of health benefits. These factors lead to rise in popularity of electric kick scooters across the globe.

Factors such as deployment of kick scooters for shared mobility services, surge in popularity of electric vehicles, and rise in awareness regarding the environmental advantages of electric kick scooter and positive government regulations to encourage the use of electric kick scooters are expected to drive the market growth. However, high maintenance as well as the manufacturing cost and ban on use of e-kick scooter in major cities across the world hinder the market growth. Furthermore, growing R&D investments for enhanced battery technologies and rapid technological advancements in the e-kick scooters industry are expected to offer lucrative opportunities for the market growth.

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COVID-19 Impact Analysis:

The outbreak of COVID-19 caused huge impacts on global economy, owing to total lockdown and temporary shutdown of industries across the world. Public transport tends to contain many people in one shared space, which boosts the spread of the coronavirus disease. As people reassess ground transportation options in the face of the COVID-19 pandemic, many are choosing isolated modes such as driving or biking over public transportation or ride-sharing. People are choosing electric kick scooter services to cover medium to short distances in view of health safety concerns during the outbreak.

Key Findings Of The Study

On the basis of battery type, the others segment is anticipated to exhibit a remarkable growth during the forecast period.
On the basis of voltage, the 25V to 50V segment is the highest contributor to the electric kick scooter market in terms of revenue.

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The key players operating in the electric kick scooter market are GOVECS AG, iconBIT, Jiangsu Xinri E-Vehicle Co., Ltd., Ninebot (Segway Inc.), Ningbo MYWAY Intelligent Technology Co., Ltd. (Inokim), Niu International, Razor USA LLC, SWAGTRON, Xiaomi and YADEA Technology Group Co., Ltd.

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Current Transformer Market Insights and Market Potential By 2029

The global current transformer market is expected to exhibit significant growth during the forecast period. This is attributed to increase in number of installations of current transformers and replacement of old transformers with new ones due to the rise in demand for power on a global level. In addition, the market is experiencing surge in demand for effective grid monitoring and control systems equipped with transformers, transformer monitors, sensors, and diagnostic solution. In addition, current transformer designers and manufacturers have been able to achieve accuracy levels that are efficient to perform in extremely low current situations. This helps the wind farms to generate higher revenue even when low levels of power are produced. However, decline in sales and weak distribution network are expected to hinder the growth of the global current transformer market during the forecast period. Furthermore, increase in industrialization has a direct effect on the residential sectors and commercial sectors, which, in turn, provides potential growth opportunities for current transformers in developing countries.

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Industrial development and increase in commercialization are the primary driving forces of the global current transformer market. Moreover, the introduction of smart grid systems is anticipated to augment the market growth, as transformers play a crucial part in the smart grid network. Digitalization in transformers to increase its efficiency and to obtain accurate data is one of the key trends observed, which significantly contributes toward the growth of the global market. Furthermore, the introduction of auxiliary current transformers is anticipated to fuel the growth of the current transformer market in the upcoming years. In addition, one of the major factors responsible for the growing preference for auxiliary transformer is its ability to enable high ratio transformers to produce low current. Increase in demand for electricity is the developing countries such as India and China is expected to augment the market growth during the forecast period.

Asia-Pacific dominates the current transformers market. This growth is attributed to huge demand for electricity along with increase in number of grid projects in the developing countries such as India, China, and Indonesia. Similarly, North America and Europe are expected to showcase notable growth in the upcoming years.

Top Key Players in the current transformer market report are FRER Hammond IME Spa LittelfuseMeagacon AS ONSET PREMO Shaanxi Shinhom Enterprise SOCOMEC Acme Electric ARTECHE Group BENDER CG Power Systems CIRCUTOR Contrelelettronica Crompton Instruments DatatronicDoepkeSchaltgerate GmbH ELEQ.

Current Transformer By Product Type

Dry Type Current Transformer
Pouring Type Current Transformer
Oil-Immersed Current Transformer
Gas Insulated Current Transformer

Current Transformer By Application

Power Plants
Factory
Others

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Key benefits of the report

This study presents the analytical depiction of the global current transformer industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global current transformer market share.
The current market is quantitatively analyzed from 2022 to 2029 to highlight the global current transformer market growth scenario.
The report provides a detailed market analysis based on competitive intensity and how the competition will take shape in coming years.

COVID-19 scenario analysis

Owing to the outbreak of COVID-19, factories have been shut down. This will force factories to reduce the number of workers, as there is no production. Moreover, the company may face financial crisis due to lack of sales and the lockdown imposed, which have restricted movements, thereby impacting the workers. The disruption in supply chain has further reduced the demand for products, which forced factories to suspend their production. Moreover, distribution utilities have a lower tariff for domestic and agricultural consumers, sometimes even below the average cost of supply, as compared to that for commercial and industrial consumers. Thus, the abovementioned factors are expected to collectively affect the growth of current transformers market.

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