Ultrasonic Testing Equipment Market Analysis with Business Opportunities, Survey And Growth Forecast 2020-2027

According to a new market research report titled ‘Ultrasonic Testing Equipment Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027,’ published by Transparency Market Research , the global ultrasonic testing equipment market is expected to reach value of US$ 1,868.3 Mn by 2027, expanding at a CAGR of 7.8% from 2019 to 2027. According to the report, the global market is expected to be influenced by continuously rising demand for ultrasonic test equipment for use in the inspection of pipelines in the oil & gas industry during the forecast period. Similarly, other industries, such as power generation, aerospace & defense, automotive, manufacturing, construction, and medical, are also influenced by increased adoption of the ultrasonic testing technology to detect flaws, cracks, voids, and discontinuity in the product or material.

This increased adoption of ultrasonic testing can directly augment the ultrasonic testing equipment market. In terms of demand, North America is projected to lead the global market for ultrasonic testing equipment, with the market in the region expanding at a CAGR of 7.8% between 2019 and 2027. Increasing investments in the oil & gas industry for safe transportation of oil and gases through pipelines and stringent government regulations about safety and quality controls are anticipated to significantly drive the market during the forecast period.

Rising demand for weld technology for use in oil and gas pipelines

The global ultrasonic testing equipment market is projected to expand at a significant rate during the forecast period, due to increasing demand for use of the weld technology in oil and gas pipelines. At the global level, oil and gases are primarily transported by four mediums: rail, trucks, boats, and pipelines. Among these, 100% of natural gas is transported by pipelines, owing to difficulty in and the cost of transforming natural gas into liquid form.

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Also, 70% of crude oil and petroleum products are shipped by pipelines in the U.S. Demand for safe transportation of these explosive gases leads to high demand for ultrasonic testing of the weld technology for pipelines. For this testing, various ultrasonic testing equipment are used across the globe. Apart from the oil & gas industry, ultrasonic testing equipment are increasingly being used in various sectors, such as aerospace & defense, automotive, medical, and construction, in order to identify faults, if any, in the manufacture of components. This testing ensures structural integrity and quality of products. This can make the product or system more efficient in terms of performance and reliability. This is projected to augment the demand for ultrasonic testing equipment across the world in the next few years.

Global Ultrasonic Testing Equipment Market: Scope of Report

The global ultrasonic testing equipment market has been broadly segmented based on product, component, technique, end-use industry, and region. In terms of product, the market has been divided into flaw detectors, thickness gauges, ultrasonic scanners, and others. Among these, the flaw detectors segment holds a significant share of the market, owing to portability and ease of use offered by flaw detectors. Ultrasonic flaw detectors are small-sized, portable, microprocessor-based instruments suitable for both shop and field use. They generate and display an ultrasonic waveform that enables a trained operator to locate and categorize flaws in test pieces, often with the aid of analysis software. The flaw detectors segment is anticipated to expand at a CAGR of 7.9% during the forecast period. In terms of component, the ultrasonic testing equipment market has been classified into hardware and services.

Among these, the hardware segment held a prominent share of the global market in 2018 and is further expected to maintain its dominance throughout the forecast period. In terms of technique, the market has been categorized into conventional and advanced. The advanced segment comprises several testing techniques such as time-of-flight diffraction, phased array, long-range ultrasonic testing (LRUT), and others. Owing to continuous innovations in ultrasonic testing techniques, the advanced segment is anticipated to hold ~80% share towards the end of the forecast period. Based on end-use industry, the global ultrasonic testing equipment market has been classified into oil & gas, aerospace & defense, power generation, automotive, manufacturing, and others. The oil & gas segment is expected to consistently lead the ultrasonic testing equipment market owing to increasing investments in the oil & gas industry.

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In terms of geography, the global ultrasonic testing equipment market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. In 2018, North America was the leading market, followed by Europe. The market in Asia Pacific is expected to expand at a highest CAGR of 8.2% from 2019 to 2027.

Global Ultrasonic Testing Equipment Market: Competition Scenario

Key players operating in the global ultrasonic testing equipment market are focusing on the development of new products and their introduction in the market so as to gain a competitive edge and improve their brand positioning in the market. Currently, two players i.e. Olympus Corporation and Sonatest Ltd. generate the maximum revenue. Other players operating in the market are Baker Hughes, LLC (a GE company), TecScan System Inc., Ndt Systems Inc., Cygnus Instruments Inc., Amerapex Corporation, Zeal International, Ametek, Inc., and Eddyfi NDT Inc.

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Silicon Capacitors Market Dynamics And Strategic Analysis, Challenges

According to a new research report pertaining to the silicon capacitors market, published by Transparency Market Research , the global silicon capacitors market is expected to reach value of nearly 3,100 Mn by 2027, expanding at a CAGR of more than 8% from 2019 to 2027. According to the report, the global silicon capacitors market would continue to be influenced by a range of macroeconomic and market-specific factors during the forecast period.

High Stability and Reliability Ideal for Higher-temperature Applications Driving the Global Silicon Capacitors Market

• Silicon capacitors are commercially available in different sizes and different temperature rating. End users can easily choose their product-specific capacitors through different sales channels.
• These capacitors can be used at low frequencies. They are also suitable for various RF power applications. This is primarily because a silicon substrate provides excellent thermal conductivity, allowing higher power ratings than the alternative technologies available in the marketplace.
• Over the last few years, silicon capacitor technology has been successfully deployed in a wide variety of applications across the world. Its unique characteristics, ease of application and installation, and stellar performance have led to the emergence of a new era in capacitance. These factors are likely to fuel the global demand for silicon capacitors. This, in turn, is anticipated to drive the global silicon capacitors market during the forecast period.
• Rising investments and growing use in DC-DC converter and RF-based GaN applications are key factors expected to drive the global silicon capacitors market during the forecast period.

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Telecommunication Segment to Account for a Leading Share of the Global Silicon Capacitors Market

• The report offers detailed segmentation of the global silicon capacitors market in terms of structure (deep-trench capacitors, MNOS capacitors, and MIS capacitors), sales channel (online and offline), and end-use industry (telecommunication, automotive, healthcare, aerospace & defense, and others). The global silicon capacitors market has also been segmented based on region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa).
• Among the end-use industries, the telecommunication segment accounted for a leading share of the global silicon capacitors market in 2018. The segment is anticipated to maintain its leading position in the global silicon capacitors market during the forecast period as well.
• Across the globe, the increase the number of telecommunication devices is likely to fuel the demand for silicon capacitors in the near future. Strong growth of communication networks and services is resulting in the rising demand for telecommunication equipment. Moreover, the increasing need for the miniaturization of electronic devices and growing requirement for high-power telecommunication devices are expected to surge the demand for silicon capacitors in the next few years. 

North America to be a Highly Lucrative Market for Silicon Capacitors

• North America is expected to hold a substantial share of the global silicon capacitor market during the forecast period, owing to the early adoption of silicon capacitors in the region. Asia Pacific and Europe hold a considerable market share each. On the other hand, these regions are projected to provide highly lucrative opportunities to the silicon capacitors market during the forecast period.

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• Asia Pacific is the second-largest as well as the most lucrative market for silicon capacitors across the globe. The rising demand for sophisticated electronic devices, infrastructure development in the telecommunication sector, and growing popularity of GaN power-based applications in India, China, and Southeast Asia are key factors augmenting the silicon capacitors market in Asia Pacific. Furthermore, the increasing demand for healthcare devices based on silicon capacitors is expected to boost the silicon capacitors market in the region during the forecast period. 

High Investments and New Product Development by Key Players to Boost Global Silicon Capacitor Market

The report contains the profiles of leading players operating in the global silicon capacitors market. These include

• Arrow Electronics, Inc.
• Murata Manufacturing Co., Ltd.
• MACOM Technologies
• Microsemi Corporation
• Skyworks Solutions, Inc.
• Taiwan Semiconductor Manufacturing Company

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Tunable Diode Laser Analyzer Market: Development Assessment and Industry Expansion Strategies 2027

Transparency Market Research (TMR) observes, the  global tunable diode laser analyzer market is highly fragmented due to presence of number of companies operating in the market. Some of the key players operating in the global tunable diode laser analyzer market are Neo monitors, Honeywell International Inc., Emerson Electric Co., Servomex, and ABB Ltd. Increasing number of mergers, collaborations, and acquisitions is predicted to accelerate growth and consolidation of the market in the next few years.

A report estimates, the global tunable diode laser analyzer market is expected to attain value of US$992.0 Mn by the end of 2027 with a CAGR of 10.30% over the forecast period of 2019 to 2027 from valuation of US$373.6 Mn in 2017. Based on the type, in 2017, in situ type measurement accounted for largest share in the revenue of about 67.4% in the global market. Based on application, oil and gas segment is expected to dominate the market with 25% of shares in the same year and is expected to remain dominant over the forecast period. Based on region, in the same year, Asia Pacific dominated the global market by accounting for 37.0% shares in the global market.

Growing Concerns over Environment to Propel Growth

The global tunable diode laser analyzer market is expected to witness growth with healthy rate from last few years. Growing investments in the research and development (R&D) activities coupled with growing focus on the advanced features of tunable diode laser analyzers and focus on improvement of products are fuelling growth of the global market. Growing adoption of modern services are expected to support growth of the market.

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Additionally, among the other measuring instruments, tunable diode laser analyzer is a new technique. It has ability of detecting and measuring gases available in environment such as HF, HCL, NH3, oxygen, and carbon dioxide even in very low air density. Besides, rising demand for advanced equipment to measure amount of toxic gases present in the atmosphere coupled with increasing demand for safety devices and growing demand for tunable diode laser analyzer due to growing industrialization globally is boosting growth of the tunable diode laser analyzer market.

Additionally, government and numerous private organizations ensuring safety of environment have mandatories the installation of gas detectors in industries and manufacturing plants. In addition, ability of seamless detection, low maintenance cost, and improved stability of equipment are boosting growth of the tunable diode laser analyzer market.

Furthermore, multiple organizations are engaged in development of new products in its portfolio. For instance, in January 2019, Yokogawa Electric Corporation has developed the TDLS8100 probe type tunable diode laser spectrometer that can be used in petrochemical, oil, iron, steel, power, and other industries to measure carbon monoxide and oxygen gas concentration at high speed.

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Strong Presence of Mature and Alternative Technologies to Restrain Growth

Despite this, the availability of alternative technologies is restraining growth of the global tunable laser analyzer market. Nonetheless, the price of tunable diode laser analyzer is likely to reduce over the upcoming years which is expected to offer growth opportunities for key players in the coming few years.

This information is encompassed in the new report by TMR, titled “Tunable Diode Laser Analyzer Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 – 2027.”

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Rotary Encoders Market To Register Significant Growth Globally By 2025

A rotary encoder also known as shaft encoder, is an electromechanical device which converts angular motion or position of axle or shaft to a digital signal. A rotary encoder is a kind of position sensor that is used in defining the angular situation of a rotating shaft. A rotary encoder also creates an electrical signal, either digital or analog which depends on the rotational movement.

Rotary encoders are frequently used to track the path of the motor shaft on permanent magnet motors that are mostly used in robots, CNC machines, and various industrial software. Incremental (quadrature) encoders are utilized on acceptance engine sort servo motors, yet supreme encoders are utilized as a part of permanent magnet brushless engines, where it is applicable.

Market Overview

A Rotary Encoder can be defined as an electromechanical switch utilized as angular position sensor whose output is usually an advanced encoding of supreme or relative position, in spite of the fact that there are some turning encoders through sinusoidal outputs. Regularly, the rotary encoder is combined with a chip and can be found in industrial applications (engine control) and different human-PC input gadgets.

Market Dynamics:

The rotary encoders market is anticipated to witness constant growth over the estimated period. A rotary encoders market is majorly driven by increasing industrial automation. As the market for industrial automation is implemented in various industries like aerospace, automotive, packaging, healthcare, and electronics which is driving the demand for rotary encoding market. Increasing use of rotary encoders in automobiles sector is the main factor which is increasing the demand for rotary encoders market globally. The rotary encoders market has a sensor which is used in providing electrical outputs which are relative to shaft rotation which measures the angles precisely, pedal position. In automotive industries, these sensors are used in throttle position, steering wheel position and gear position. Another factor which is driving the rotary market is the adoption of rotary encoders in aerospace industries. In aerospace industries, these sensors are used for automation in the aerospace industries.

One of the restraining factors in the rotary angle encoders market is the lack of product differentiation. As a number of key players offer similar technological products, there are numerous options for the buyers to buy from. Thus creating pricing pressure that helps to compete with large manufacturers for high volume of these products.

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Market Segment:

Rotary Encoders market is segmented on the basis of types, applications and regions.

On the basis of types, rotary encoders market is segmented into Incremental Encoders and Absolute Encoders.

On the basis of application, rotary encoders Market is segmented into Metal Forming & Fabrication, Servo motor, Elevator Industry, Machine Tool, and Material Handling.

On the basis of geographical regions, the Rotary Encoders market is segmented into seven different regions: North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific region, Japan, and Middle East and Africa.

Europe covers the major and largest share in rotary encoders market in terms of revenue, as compared to other regions, due to the various application across different industries. Countries in Europe are adopting rotary encoders with application in robotics, material handling, and machine tools, and others in most of the countries in Europe.

One of the major factors which is driving the rotary encoders market which is driving the market is the European market as it homes various big automotive companies like Volkswagen AG, BMW Group, and Daimler AG.

Rotary Encoders Market: Key Market Players

Some of the key players in the global Rotary Encoders Heidenhain, Nemicon, Tamagawa, Koyo, Omron, Kubler, Leine&linde, Baumer, DYNAPAR, Pepperl-fuchs, Rep Avago, YUHENG, Autonics, CONTROLWAY, LJV and few other regional players.

Industrial robotic applications are expected to be one of the major opportunities in the rotary angle sensors market. Automation in a different sectors will create demand for robotics which in turn will create demand for rotary angle sensors. Moreover, electronic sector is also one of the important sectors where opportunities are expected during the forecast period.

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These vendors are increasingly experiencing accomplishments due to various factors such as high investments in research and developmental activities, technology-based solutions, and the ability to provide customized Rotary Encoders.

For instance, in 2013, Pepperl-Fuchs launched Magnetic Rotary Encoder Technology – A New Level of Flexibility and Performance which has excellent precision and robustness combined with an exceptionally compact design permits the new generation of magnetic rotary encoders.

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Automotive Baggage Handling System Market Global Demand, Production Status and Rising Trends 2021

 

• Rise in demand for automotive vehicles across the globe has prompted baggage handling system manufacturers to find ways to improve existing baggage handling technologies with automated sorting. This is likely to propel the automotive baggage handling system market across the globe.

Key Drivers of Automotive Baggage Handling System Market

• Rise in automation including automatic sorting and conveying system is projected to fuel the automotive baggage handling system market. Technological advancements, including RFID system, are likely to improve the vehicle inspection system, which is likely to increase the efficiency of automotive manufacturing and subsequently boost the production of vehicles.
• Increase in adoption of Internet of Things (IoT) technology in the automotive industry, which in turn is likely to propel the automotive baggage handling system market across the globe. Introduction to destination coded vehicle in the baggage handling system helps to move baggage rapidly, as compared to the conveyor system. This is likely to boost the automotive baggage handling system market across the globe.

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North America & Asia Pacific to hold significant share of global automotive baggage handling system market

• North America is projected to account for a major share of the global automotive baggage handling system market due to a rise in the demand for high quality vehicles across the region. North America has presence of major automotive industries who have advanced systems for vehicle check-in and check-out systems, which in turn is estimated to boost the automotive baggage handling system market across North America.
• Followed by North America, Asia Pacific is projected to hold a significant share of the global automotive baggage handling system market due to an increase in vehicle production across the region. Major presence of automotive OEM players across the region is likely to boost the automotive baggage handling system market across Asia Pacific.

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Key Players Operating in Automotive Baggage Handling System Market

The automotive baggage handling system market is expanding consistently, as a large number of players operate in the market. A few of the key players operating in the automotive baggage handling system market are:

• Siemens AG
• Vanderlande Industries
• Daifuku
• Fives SAS
• SITA
• Pteris Global Limited
• Dynabag
• BCS Group

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Bias Tire Market Growth Rate, Top Manufacturers, and Forecast 2030

According to the report, the global bias tire market is projected to reach US$ 9.2 Bn by 2030, expanding at a CAGR of ~4% during the forecast period. Rise in sale of passenger and commercial vehicles across the globe is likely to propel the bias tire market across the globe. In addition, increase in small- and medium-scale industries across the globe is expected to boost manufacturing industries, which, in turn, is projected to fuel the bias tire market across the globe.  The rate of adoption of agriculture tractors and equipment has increased globally. The surge in the affordability of tractors and income of farmers are driving the demand for bias tires for agriculture tractors, which is anticipated to boost the bias tire market across the globe.

Bias Tire Market: Dynamics

Growing acquisition and agreements among leading tire manufacturers across the globe are boosting the bias tire market across the globe. In 2019, MICHELIN acquired 20% stake in a retailer PT Penta Artha in partnership with Indomobil and other private investors. The acquisition of the retailer is estimated to boost the marketing and sales of MICHELIN in Indonesia. China witnessed a surge in both general trade volume and proportion, escalating to 15.66 Trn Yuan. China trade volume accounted for 56.4% of total foreign trade. Major trading partners of China are the U.S., the European Union, and ASEAN.

Based on vehicle type, the global bias tire market has been segmented into passenger vehicle, light commercial vehicle, heavy commercial vehicle, construction & mining vehicle, agriculture tractor, and industrial vehicle. Agriculture vehicle is likely to be a highly lucrative segment during the forecast period.

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The rise in demand for agriculture tractors is estimated to drive the demand for bias tire across the globe. In terms of type, the bias belted tire segment accounted for a significant share of the global bias tire market. Rise in construction activities across the globe is likely to increase the demand for heavy vehicles, which is anticipated to boost the bias tire market across the globe.

Bias Tire Market: Regional Analysis

In terms of region, the global bias tire market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific dominated the global bias tire market in 2019. It is anticipated to hold a leading market share during the forecast period, due to rise in automotive industry across the globe. North America is also anticipated to hold a significant share, in terms of revenue, of the global market during the forecast period.

This TMR report on the bias tire market is based on a complete and comprehensive evaluation of the market backed by secondary and primary sources. Market volume is determined by country wise model mapping of vehicle through internal & external proprietary databases, and relevant patent and regulatory databases. The competitive scenario of the bias tire market is supported by an assessment of the different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data, current trends and announcement by the key players, researchers of the bias tire market arrive at predictions and estimations, and calculate the forecast for the market.

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Bias Tire Market: Key Players

Prominent players operating in the global bias tire market include Bridgestone Corporation, MICHELIN, The Goodyear Tire & Rubber Company, Continental AG, Cooper Tire & Rubber Company, YOKOHAMA Rubber CO. Ltd., Pirelli & C S.p.A., JK Tire & Industries Ltd, Sumitomo Tires, Giti Tires, Hankook Tire & Technology Co. Ltd., KUMHO Tire, Apollo Tyres Ltd., Nokian Tyres, Toyo Tires, ZC Rubber, and BKT Tire.

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Cargo Bike Market Overview and Scope 2021-2030

According to the report, the global cargo bike market is projected to surpass US$ 6.3 Bn by 2030, expanding at a CAGR of ~15% during the forecast period. The increase in penetration of Internet connectivity and smartphones has boosted the online retail and eCommerce sector. In April 2020, the United Nations Conference on Trade and Development stated that global eCommerce sector expanded by 8% in 2018, with total sales of US$ 28 Trn. The increasing inclination toward online shopping is boosting the number of last mile deliveries. A recent report published by the World Economic Forum in January 2020 stated that urban delivery services is expected to expand by 78%, leading to a 36% increase in delivery vehicles by 2030.

Expansion of Cargo Bike Market

Cargo bike manufacturers are developing connected self-driving bikes that are expected to conduct deliveries without human intervention. In 2019, IAV introduced autonomous cargo bike for convenient deliveries in urban settlements. The surge in trade volume, owing to rising bilateral trade among countries, is projected to boost the cargo bike market during the forecast period. China witnessed a surge in both general trade volume and proportion, escalating to 15.66 trillion Yuan. China trade volume accounted for 56.4% of total foreign trade. Major trading partners of China are the U.S., the European Union, and ASEAN.

Based on number of wheels, the global cargo bike market has been segmented into two wheeled, three wheeled, and four wheeled. Three wheeled is likely to be a highly lucrative segment during the forecast period. Three wheeled cargo bikes have large weight carrying capacity during transportation. Major parcel and delivery service providers use three wheeled cargo bikes, as they can carry large amount of products.

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Based on application, the courier & parcel service segment accounted for a significant share of the global cargo bike market. The growing consumer trend toward online shopping is likely to boost the cargo bike market across the globe. The rapid expansion of eCommerce companies across the globe is estimated to further drive the cargo bike market across the globe.

Regional Analysis of Cargo Bike Market

In terms of region, the global cargo bike market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Europe dominated the global cargo bike market in 2019. It is anticipated to hold a leading market share during the forecast period due to rise in transportation of goods and commodities via bikes.

Governments across Europe and North America have initiated numerous projects, such as CityChangerCargoBike, Transportrad Initiative of Sustainable Municipalities (TINK), Commercial Cargo Bike Program, to encourage adoption of cargo bikes. Financial assistance in the form of subsidies and grants, dedicated infrastructure, and well-established regulatory framework are major drivers of the cargo bike market in these regions.

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Cargo Bike Market Players

Prominent players operating in the global cargo bike market include BMW Group, Butchers & Bicycles, Cezeta, Douze Factory SAS, Energica Motor Company, Govecs Group, Harley Davidson, Hero Electric, Johammer E-Mobility GmbH, KTM AG, Mahindra & Mahindra Ltd., NIU International, Rad Power Bikes LLC, Riese & Müller GmbH, Vmoto Limited, Yadea Group Holding Ltd., and Yuba Electric Cargo Bikes.

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