A Market Place Research – Page 2544

Home Warranty Service Market Expected to Reach $13.6 Billion by 2030 | Allied Market Research

global home warranty services market was valued at $7.3 billion in 2020, and is expected to reach $13.6 billion by 2030, registering a CAGR of 6.3% from 2021 to 2030. Home warranty is a service offered by developers that cover the cost of structural defects in homes caused due to natural calamities or poor construction quality. It further covers repair and replacement costs of appliances such as fans, ACs, and fittings, which come with a furnished flat. When an appliance or system is damaged, the homeowner contacts the home warranty provider. The warranty company usually works in unison with one or more home service providers, such as plumbing or electrical contractors. After being notified of a claim, the warranty company requests services from one of its

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The growth of the home warranty service market is majorly driven benefits associated with warranty services such as protection of appliances and home systems in case of damage or breakdown as well as availability of free of cost service or minimal amount payment to servicing firms. In addition, rise in awareness among people to opt for home warranty services to prevent high repairing and maintenance costs of home systems and appliances notably contributes toward the growth of the global market. However, several hidden charges and implementation of terms & conditions by home warranty service providers make the service costly post maintenance or repair work is carried out. On the contrary, the expenditure on systems installed at homes and specific commercial spaces is being covered under home warranty services in emerging countries, which is expected to offer lucrative opportunities for the growth of the home warranty service market.

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The global home warranty service market is segmented into distribution channel, type, sales channel, application, and region. On the basis of distribution channel, the market is segregated into brokers, agents & branches, and others. Depending on type, it is bifurcated into home systems and appliances. By application, it is fragmented into residential and commercial. As per sales channel, it is categorized into renewals, home resale, and direct to consumer. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, UK, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

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Key Findings Of The Study

By distribution channel, the brokers segment was the highest revenue contributor in 2020.
Depending on type, the home system segment dominated the market in 2020.
Depending on sales channel, the renewals segment dominated the market in 2020.
On the basis of application, the residential led the market in 2020.
Region, Asia-Pacific generated the highest revenue in 2020.

Market players-

AFC Home Club, Cinch Home Services, Inc., First American Home Warranty, FNHW (Fidelity National Home Warranty), Frontdoor, Inc., Home Buyers Warranty Corporation, Landmark Home Warranty, Old Republic International Corporation, Oneguard Home Warranties, and Transforms SR Brands LLC

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Relays Market Insights by Latest Trends, Future Growth, Revenue and Demand 2029

Increase in demand for solar energy coupled with rise in smart grid establishment and revamping is one of the major factors that fuels the growth of the global relays market. There is a massive scope of relays in an automated power grid that can help control all communication and distribution between the consumer and the supplier. With increasing investment in infrastructure projects across different areas around the world, rise has been witnessed in energy consumption coupled with increase in popularity of energy management smart grid technologies. Of this, purpose relays are sometimes used in parallel networks to minimize the risk of harm due to system damage. Furthermore, due to increase in environmental concerns regarding the depletion of conventional energy sources, the growth of the renewable energy industry is expected to boost the new infrastructural technologies which will fuel the need for defensive relays. However, rise in construction costs cause disruptions for the industry during the forecast era.

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Electricity is one of the most commonly used forms of energy. Residential and commercial sectors account for the largest proportion of total electricity consumption. The supply of electricity is therefore increasing along with surge in adoption of distribution feeder protection system, which, in turn, fuels the relay market. The installation of protective relays can help to eliminate the risk of damage of end product. Moreover, the growth of the global market is driven by increase in adoption of protective relays in the automobile manufacturing sector. Most players utilize relays in the fuse box of cars. These relays are used to prevent overloading and fault in the circuits.

Top Key Market Players

ABB Ltd.
Broadcom Inc.
Eaton Corporation Plc
Fujitsu Ltd.
General Electric Co.
OMRON Corp.
Rockwell Automation Inc.
Schneider Electric SE
Siemens AG
TE Connectivity Ltd.

COVID-19 scenario analysis

Owing to the outbreak of the COVID-19 pandemic, the global relays market is expected to witness a slowdown during the next couple of years. This is attributed to the shutdown of factories across all cities and provinces, globally, leading to predictions of a sharp slowdown. In addition, recent decline in the growth of the automotive industry is one of the key factors that is likely to negatively impact the growth the relays market. Thus, companies are dealing with missing sales and disrupted supply chains, as production activities are shutdown.

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Key segments covered

By Type

Electromechanical Relays
Solid-state Relays
Hybrid Relays
Reed Relays
General-purpose Relays

By Region

North America (U.S., Mexico, and Canada)
Europe (Germany, UK, France, and the Rest of Europe)
Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
LAMEA (Brazil, South Africa, Saudi Arabia, and the Rest of LAMEA)

Key benefits of the report

This study presents the analytical depiction of the global relays 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 relays market share.
The current market is quantitatively analyzed from 2022 to 2029 to highlight the global relays market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.

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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. 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.

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.

Hyper-Converged Infrastructure Market is Expected to Reach $33.16 Billion by 2026

According to the report, the global hyper-converged infrastructure market garnered $3.84 billion in 2018, and is estimated to reach $33.16 billion by 2026, registering a CAGR of 30.7% from 2019 to 2026.

Rise in requirement for disaster recovery and data protection along with lowered Capital Expenditure (CAPEX) and Operational Expenditure (OPEX) drive the global hyper-converged infrastructure market. However, vendor lock-ins are expected to hinder the market growth. On the other hand, surge in investments regarding data center infrastructure present new opportunities for growth.

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Based on component, the hardware segment accounted for nearly half of the total share of the global hyper-converged infrastructure market in 2018, and is expected to continue its leadership position throughout the forecast period. This is due to proliferation of data centers across the globe to lower down complexity and enhance scalability. Contrarily, the software segment is expected to grow at the highest CAGR of 32.0% from 2019 to 2026, owing to surge in cloud migration activities and cost saving benefits.

Based on industry vertical, the BFSI segment held the highest market share of the global hyper-converged infrastructure market, accounting for more than one-fifth of the total share in 2018, and is expected to maintain its lead position in terms of revenue by 2026. This is attributed to increase in digitization and adoption of robust digital transformation strategies. However, the healthcare segment is estimated to register the highest CAGR of 33.9% from 2019 to 2026, owing to implementation in digital workspaces and data center efficiency for reducing operational costs.

Based on region, North America accounted for the highest market share based on revenue, contributing to more than two-fifths of the global hyper-converged infrastructure market in 2018, and is estimated to maintain its dominance during the forecast period. This is due to shift toward novel technology that offers cloud-like economics for current data centers without compromising availability, performance, or reliability. However, Asia-Pacific is estimated to witness the largest CAGR of 36.3% from 2019 to 2026, owing to increase in hybrid cloud deployments along with surge in number of mission-critical applications.

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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.

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Shea Butter Market is Expected a High Probability Business Opportunity in 2030

Shea Butter Market by Type (Raw & Unrefined and Refined & Ultra-Refined) and Application (Food and Cosmetics): Global Opportunity Analysis and Industry Forecast, 2021–2030.”. According to the report, the global shea butter industry generated $655.2 million in 2020, and is anticipated to generate $2.4 billion by 2030, witnessing a CAGR of 14.1% from 2021 to 2030.

Surge in consumer demand for plant-based ingredients in the cosmetic industry, rise in online sales in remote areas, and increase in demand for shea butter in the cosmetic and food industries drive the growth of the global shea butter market. However, limited availability of the product in developed regions and availability of healthier substitutes hinder the market growth. On the other hand, extensive use of shea butter in various industry verticals, rise in vegan population, and rapid growth of the retail sector present new opportunities in the coming years.

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Based on type, the raw & unrefined segment held the highest market share in 2020, accounting for nearly four-fifths of the global shea butter market, and is estimated to maintain its leadership status throughout the forecast period, owing to multiple benefits associated with unrefined or cold pressed oils. However, refined & ultra-refined segment is projected to manifest the highest CAGR of 16.3% from 2021 to 2030. This is because of its usage in the skin care market, as it is said to diminish the appearance of lines and wrinkles as well as aids in softening the skin and lightning the complexion.

Based on application, the food segment accounted for the largest share in 2020, contributing more than four-fifths of the global shea butter market, and is projected to maintain its lead position during the forecast period. This is because shea butter exhibits functional and enhanced nutritional properties. Moreover, the cosmetics segment is expected to portray the largest CAGR of 16.4% from 2021 to 2030, owing to its usage in a broad range of cosmetic products, including skin care products such as creams, soaps, balms, body butter, lip balms, shaving creams, and hair care products.

Based on region, North America held the highest market share in terms of revenue 2020, accounting for more than one-third of the global shea butter market. This is due rise in health conscious population and improved lifestyle in the countries such as the U.S. However, the Asia-Pacific region is expected to witness the fastest CAGR of 16.4% from 2021 to 2030, owing to rise in demand for plant-based food product and growing vegan & flexitarian population.

The players operating in the shea butter industry have adopted product launch and business expansion as their key developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include AAK AB, Bunge Ltd., FUJI OIL HOLDINGS INC, 3F Industries Ltd, ADM, Stern-Wywiol Gruppe GmbH & Co. KG, Akoma Cooperative, StarShea, Ghana Nuts Ltd and Shebu Industries ‘.

Covid-19 Scenario

The outbreak of the Covid-19 pandemic has had a negative impact on the global shea butter market. The pandemic disrupted the supply chain across the world, which in turn, led to difficulties for key players and vendors during supply of goods. Trade restrictions imposed by several countries across the globe to curb the outbreak of COVID-19 significantly affected global logistics and transportation, thereby impacting the shea butter market negatively.

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Nisin Market – With Future Growth By Top Players Involved In The Market

Nisin Market generated $317.9 million in 2020, and is estimated to generate $638.1 million by 2030, registering a CAGR of 7.3% from 2021 to 2030. The report provides an extensive analysis of changing market dynamics, key segments, value chain, top investment pockets, regional scenario, and competitive landscape.

People’s changing lifestyle, varied consumer trends towards ready-to-use food products, and growth in bakery, confectionery, meat, and poultry applications drive the growth of the global nisin market. However, stringent regulations pertaining to the use of chemical preservatives in certain regions and surge in awareness regarding the utilization of additives hamper the market growth. On the other hand, continuous research activities by the players and strong support from multinational ingredient manufacturing companies for the development of such products are expected to create new opportunities in the coming years.

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The report provides detailed segmentation of the global nisin market based on type, application, and region.

Based on type, the powder segment accounted for the highest market share, holding 94% of the total share in 2020 and is expected to continue its leadership status during the forecast period. However, the liquid segment is estimated to witness the highest CAGR of 11.7% from 2021 to 2030.

Based on applications, the food and beverages segment contributed to the largest share in 2020, accounting for around three-fourths of the global nisin market, and is projected to continue its lead position during the forecast period. However, the cosmetics and personal care segment is expected to grow at the highest CAGR of 8.3% from 2021 to 2030.

Based on region, North America held the largest market share in 2020, contributing to more than half of the total share, and is expected to maintain its dominance in terms of revenue by 2030. However, Asia-Pacific is projected to manifest the fastest CAGR of 7.9% during the forecast period. The report also studies the region including LAMEA and Europe.

Covid-19 Scenario:

The outbreak of covid-19 pandemic led to disrupted manufacturing and supply management of nisin. This in turn resulted in the shortage nisin. In addition, the prices were also increased during the initial phase of covid-19, owing to the shortage of material and its higher demand. However, as the situations are revitalizing, and the market is expected to recoup soon.

Leading players of the global nisin market analyzed in the research include DuPont de Nemours, Inc., Galactic, Mayasan Biotech, Merck Group, Royal DSM, Santa Cruz Biotechnology, Inc., Cayman Chemical Company, Chihon Biotechnology Co., Ltd., Duke Thomson’s India Pvt. Ltd., and Siveele B.V.

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Construction Equipment Market is Expected to Reach $261,047 Million by 2027 | Allied Market Research

global construction equipment market accounted for $184,500 million in 2019 and is expected to reach $261,047 million by 2027, registering a CAGR of 4.3% from 2020 to 2027. In 2019, Asia-Pacific dominated the global construction equipment market, in terms of revenue, accounting about 44.0% share of the global construction industry, followed by Europe, North America, and LAMEA.

Construction equipment are specially designed machinery used for performing construction operations. This equipment are used for different functions such as drilling, hauling, excavating, paving, and grading. The global construction equipment market covers different industries such as construction & infrastructure, manufacturing, and oil & gas.

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One of the reasons for the growth of the construction equipment market is rise in popularity of robust and compact equipment. The adoption of compact construction equipment has gained popularity in recent years, due to their easier maintenance, movability, and similar performance as heavy construction machinery. Moreover, unlike heavy machinery, compact construction equipment does not necessitate certified & skilled workers and are considerably easier to operate. Further, lower costs of the compact equipment boost their adoption in end-user industries.

By type, the loaders segment dominated the global construction equipment market in 2019, in terms of revenue. The demand for loader segment is expected to increase due to the increase in spending in the construction industry. Moreover, forklift segment is expected to grow at a higher CAGR during the forecast period due to rise in number of warehouses and distribution centers across the world

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The products segment secured the highest share of 79.8% in the global construction equipment market in 2019 and is expected to grow at a CAGR of 4.0% during the forecast period. In terms of type, the loader segment is expected to contribute the highest construction equipment market share in the coming years, as expansion in the construction industry is estimated to fuel its growth. The forklift segment is expected to grow at the highest CAGR during the forecast period. Forklifts are generally used in warehouses and distribution centers for lifting and moving raw materials and goods, it is also known as fork truck or lifting truck. It is an important component of warehouse to perform different operations such as moving between storage to carry, place, and retrieve the goods as per the requirement.

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Key Findings of the Study:

On the basis of solution type, the products segment generated the highest revenue in 2019.
On the basis of equipment type, the heavy construction equipment segment was the highest revenue contributor in 2019.
On the basis of type, the loader segment was the highest revenue contributor in 2019.
On the basis of application, the earth moving segment was the highest revenue contributor in 2019.
On the basis of industries, the construction & infrastructure segment was the highest revenue contributor in 2019.

Market players-

AB Volvo, Caterpillar Inc., CNH Industrial N.V., Deere & Company, Doosan Infracore Co. Ltd., Hitachi Ltd., J C Bamford Excavators Ltd., Komatsu Ltd., Liebherr-International AG, and Xuzhou Construction Machinery Group Co., Ltd. (XCMG)

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Caps and Closures Market Research Key Players, Industry Overview And Forecasts To 2031

Caps and Closures Market by Product Type (Easy-open Can End, Metal Lug Closures, Peel-off Foils, Screw Closures, Metal Crowns, Corks, and Others), Raw Material (Plastic, Metal, Wood, and Others), and Application (Beer, Wine, Bottled Water, Carbonated Soft Drinks, Dairy Product, Condiments & Sauces, and Others): Global Opportunity Analysis and Industry Forecast, 2022–2031″. As per the report, the global caps and closures industry accounted for $46.15 billion in 2020, and is expected to reach $81.33 billion by 2031, growing at a CAGR of 4.9% from 2022 to 2031.

Rise in demand for plastic caps and closures for food & beverages and rise in competition and adoption of high-tech enlargement, plastic cups, and closures drive the growth of the global caps and closures market. However, adverse effects of use of plastic hinder the market growth. On the contrary, government support to promote go-green projects would open new opportunities.

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By product type, the screw closures segment held the largest share in 2020, accounting for more than one-fifths of the caps and closures market, due to its wide use in beverage cans, canned liquid foods, and pulp fruit drinks. However, the easy-open can end segment is expected to manifest the highest CAGR of 6.9% during the forecast period, due to rise in demand for food & beverage cans with open end for easy accessibility.

By application, the dairy product segment is projected to register the highest CAGR of 5.9% during the forecast period. In addition, the segment held the largest share in 2020, contributing to nearly one-fifths of the caps and closures market, due to rise in consumption of dairy products across the globe. The report also includes analysis of segments such as beer, wine, bottled water, carbonated soft drinks, condiments & sauces, and others.

By region, the market across North America is expected to showcase the highest CAGR of 4.1% during the forecast period, due to surge in westernization and adoption of innovative caps and closure products among food and beverage manufacturers for packaging. However, market across Asia-Pacific held the largest share in 2020, accounting for nearly two-fifths of the caps and closures market, owing to rise in use for manufacturing of food and beverage products in China, India, and Japan.

Covid-19 scenario:

The Covid-19 outbreak disrupted the supply chain in the food & beverage industry. Moreover, lockdown and strict regulations on social distancing hindered the manufacturing of caps and closures and impacted the procurement of raw materials. The pandemic presented several challenges such as safety, crisis management, re-forming business models, and other unintended consequences.

The players operating in the global caps and closures market have adopted various developmental strategies to expand their caps and closures market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Allstates Rubber & Tool Corp, Amcor Plc, AptarGroup, Inc., Ball Corporation, BERICAP GmbH & Co. KG, Berry Global, Inc, Crown Holdings, Inc., GCL Holdings S.C.A., JELINEK CORK GROUP, and M.A. SILVA USA, LLC

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Industrial Power Supply Market: Emerging Trends Boosts the Global Industry Growth Till 2029

Rapid urbanization leads to a rise in demand for residential areas and buildings, which acts as a key factor driving the growth of the industrial power supply market. In addition, rise in concern regarding environmental protections encourage the use of energy-efficient power supplies globally. Moreover, industries such as telecommunications and aerospace are based on power supply, thus augmenting the growth of the power supply market. The AC-DC segment of the market is anticipated to garner major share, as it is more suitable for consumer devices, medical devices, and defense applications. Furthermore, the demand for LED lights in the street and industrial lighting sectors is increasing rapidly. However, the imbalance in the demand and supply for the industrial power supply will be the major restraint of the market.

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Top Key Market Players

TDK Lambda
XP Power
Delta Electronics
Siemens
Murata Power Solutions

COVID-19 impact analysis

The global market for industrial power supply is expected to witness gradual growth due to the outbreak of the COVID-19 pandemic.
The pandemic is likely to rise the opportunities for the industrial power supply market as the outgoing activities of the people is limited which will lead to high demand of power supply from the residential areas.
However, the power supply may witness decline in demand from the other sectors such as industrial, aerospace, and commercial.
The suspension of manufacturing factories and shutdown of the business will hamper the growth of the market.

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Key Market Segments

By Product

DC-DC
AC-DC

By Application

High current generation
Voltage
Load
Others

By End User

Healthcare
Telecommunications
Military
Aerospace
Transportation
Others

Key benefits of the report

This study presents the analytical depiction of the global industrial power supply market industry along with the current trends and market estimation to determine the imminent investment pockets.
The report represents information related to key drivers, restraints, and opportunities along with detailed analysis of the industrial power supply market share.
The current market is quantitatively analyzed from 2022 to 2029 to highlight the Industrial Power Supply market growth scenario.
The report provides a detailed market analysis depending on competitive and how the competition will take shape in coming years.
This report helps users in comprehending the key product segments and their future.

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Health Drinks Market is Booming Across the Globe by Share, Size, Growth, Segments and Forecast to 2025

Health drinks refer to beverages which provide superior nutrition, usually made from fruits and vegetables. They are available in both, dairy and non-dairy form. If consumed in appropriate quantity, health drinks provide abundant health benefits and nutrition and reduces the risks of being prone to any health concerns.

With rise in health complications and concerns about obesity, the demand for health drinks is increasing at a considerable rate, which is a key factor that drives the growth of the global health drinks market. Consumers have an increasing preference toward health drinks which are low in calories, naturally provide an energy boost, and in certain cases even replace the entire meal. Therefore, the consumption of these beverages has increased among health-conscious consumers. In addition, busy lifestyle of urban populace and rise in disposable income have propelled the growth of the market.

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Upsurge in consumer preference for hassle-free and ready-to-drink beverages to maintain and achieve the required daily nutrition augments the growth of the global market. Furthermore, upsurge in demand for health drinks such as probiotic functional drinks has positively impacted the growth of the market. However, the use of preservatives such as phosphoric acid to give fruit juices their tangy taste can lead to reduction of bone density, thereby hampering the growth of the market.

On the contrary, introduction of re-designed beverages providing smaller portion packs to focus on portion-controlled habits is viewed as an opportunity by the manufacturers to expand the market.

The global health drinks market is segmented into type, distribution channel, and region. Depending on type, the market is classified into packaged fresh fruit & vegetable juices, nutritional drinks, functional drinks, and others. By distribution channel, it is categorized into online retail, supermarket/hypermarket, specialty store, convenience stores, and others. Region wise, it is studied across North America, Europe, Asia-Pacific, and LAMEA.

KEY BENEFITS FOR STAKEHOLDERS

The report provides an in-depth analysis of the current trends, drivers, and dynamics of the Health drinks market to elucidate the prevailing opportunities and tap the investment pockets.
It offers qualitative trends as well as quantitative analysis of the global market from 2018 to 2025 to assist stakeholders to understand the market scenario.
In-depth analysis of the key segments demonstrates type of health drinks and its distribution channels.
Key market players are profiled to understand the competitive outlook of the market.

The key players operating in the global health drinks market include Nestlé, Upbeat Drinks, Rakyan Beverages, ViVA Drinks, Suja Life, LLC, Glaxo Smith Kline, Mondel?z International, Timbucha Kombucha, Oy Karl Fazer Ab., and GCMMF.

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Solar Power Equipment Market Expected to Reach $310.4 Billion by 2030

global solar power equipment market size was valued at $101.9 billion in 2020, and is projected to reach $310.4 billion by 2030, registering a CAGR of 11.3% from 2021 to 2030.

By equipment, the market is segmented into solar panels, mounting, racking & tracking system, storage system, and others. Among these, the solar panels segment accounted for the highest market share in 2020 and mounting, racking, & tracking System, is expected to witness significant growth during the forecast period, owing to increase in demand for solar power equipment for residential users as well as utility providers.

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The market is analyzed with respect to different applications in industrial residential, nonresidential and utility. The market is mainly driven by growth of global increasing awareness amongst masses regarding the importance of using renewable energy sources and supportive government initiatives and policies. However, high dependency of solar power systems on sun radiation is a major restraint in the growth of the market.

Rise in global temperature, has fueled global warming, resulting in rise of ocean water level and posing a threat to many coastal cities. Furthermore, climatic changes have also increased the frequency of floods and draughts, thereby negatively affecting the global economy. These factors, have created a demand for increase in the global harnessing of renewable energy, thus boosting the solar power equipment market. In addition, surge in use of solar water heaters among residential and commercial users has fueled the solar power industry.

Furthermore, on the basis of application, the utility is anticipated to grow rapidly, with a CAGR of 11.2% during the forecast period, owing to increase in investment from private and public entities across the globe.

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For instance, according to India Brand Equity Foundation, as of September 2021, India had 101.53 gigawatt (GW) of renewable energy capacity which accounted for 38% of the overall installed power capacity. The Indian government aims to increase this capacity to 450 gigawatt (GW) of installed renewable energy by 2030, around 280 GW (over 60%) of which is expected from solar.

The novel coronavirus has rapidly spread across various countries and regions, causing an enormous impact on the lives of people and the overall community. It began as a human health condition and has now become a significant threat to global trade, economy, and finance. However, the demand for electricity increased during COVID-19, thereby leading to the market growth during the period. Furthermore, total shipments of solar panel manufacturers grew by nearly 7% from 2019 to 2020. Hence, the COVID-19 pandemic had no negative impact on the solar power equipment market growth.

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Key Findings Of The Study

The report provides an extensive analysis of the current and emerging solar power equipment market trends and dynamics.
Depending on equipment, the solar panels segment dominated the solar power equipment, in terms of revenue in 2020 and the storage systems segment is projected to grow at a significant CAGR during the forecast period.
By application, the utility segment registered highest revenue in 2020.
Asia-Pacific is projected to register highest growth rate in the coming years.
The report provides an extensive analysis of the current trends and emerging opportunities of the market.

Market players-

BB Group, Canadian Solar, First Solar Inc., Hanwha Q CELLS, JA Solar, JinkoSolar, LONGi Solar, Shunfeng International, SunPower Corporation, and Trina Solar.

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