The Rise of Screw Compressors: Market Trends and Technological Advancements

 The global Screw Compressor Market is projected to grow from estimated USD 12.74 billion in 2025 to USD 16.30 billion by 2030, at a CAGR of 5.0% during the forecast period. The market is growing due to Industrialization, demand for energy-efficient solutions, and growth in the manufacturing, oil and gas, and construction industries. Strict emission regulations and the necessity for low-maintenance, high-performance compressors propel adoption. Automation and smart monitoring advancements also stimulate growth in the market.

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Oil Free segment by type

Stringent environmental laws, increasing demand for clean and contaminant-free air, and rapid adoption of oil-free compressors in food and beverages, medical and pharmaceuticals, and other industries are causing the oil-free screw compressor segment to be the fastest-growing one. These industries need oil-free air, which serves as an essential function in avoiding contamination in production work. New developments in energy-saving, low-maintenance oil-free compressors have turned out to be economical, thereby increasing their adoption. Growing awareness about sustainability and minimal carbon emissions are accelerating the path for switchovers from oil-lubricated to oil-free screw compressors.

Above 250 HP segment by capacity

The segment above 250 HP is the largest in the Screw Compressor Market and is mostly used in heavy industries such as oil & gas, power generation, and mining, where hefty-capacity compressors are needed for continuous duty. These industries need low-pressure-high-airflow compressors for their demanding applications. Furthermore, increased investment in mega infrastructure projects, petrochemical plants, and industrial automation spurs the demand for high-performance and energy-efficient screw compressors in this sector.

Asia Pacific is expected to be the fastest region in the Screw Compressor Market during the forecast period

Asia-Pacific market is the fastest growing market for screw compressor due to rapid industrialization, urbanization, and infrastructure development. Manufacturing, construction, and oil-and-gas industries are expanding rapidly to cater to the growing demand for compressed air-efficient solutions. Most of these booming industries including governmental initiatives for popular reclamations of energy-efficient technologies are expected to add strength to this growth; along with investments in renewable energy and petrochemicals, strong signs have emerged to continue using sino-chien-screw compressors as its most reliable and continuous operation.

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Key Players

The report profiles key players such as Atlas Copco AB (Sweden), Ingersoll Rand (US), Hitachi, Ltd (Japan), and ELGi (India).

Ingersoll Rand (US)

Ingersoll Rand (US) is s provider of pneumatic equipment, compressed air and gas systems, and industrial solutions. The company operates its businesses through two segments: Industrial Technologies & Services, Precision & Science Technologies. It offers screw compressors under its Industrial Technologies & Services segment. The Industrial Technologies & Services segment offers a range of air and gas compressors, vacuum and blower products, fluid transfer equipment, loading systems, power tools, and lifting equipment, as well as aftermarket parts, consumables, and services. The company’s screw compressors are used in various end-use industries, such as automotive, chemicals, electronics, food & beverages, oil & gas, pulp & paper, power generation, metals and machinery, pharmaceuticals, and textiles.

Ingersoll Rand has a sales presence in more than 175 countries in North America, Latin America, Europe, Asia, the Middle East and Africa, and Australia. In addition to the US, Ingersoll Rand has manufacturing facilities in Germany, the UK, China, Finland, Italy, India, and other countries.

Atlas Copco AB (Sweden)

Atlas Copco AB (Sweden) is one of the leading provider of compressors, vacuum solutions, generators, pumps, power tools, and assembly systems in the global compressed air filter and dryer market. The company operates its business through four segments: Compressor Technique, Vacuum Technique, Industrial Technique, and Power Technique. Atlas Copco offers screw compressors through the Compressor Technique segment. This segment also offers compressed air solutions; industrial compressors; gas and process compressors and expanders; air and gas treatment equipment; air management systems; and related services.

The company’s air compressor products are used in various industries, such as automotive, electronics, chemicals & petrochemicals, fertilizers, food & beverages, oil & gas, pharmaceuticals, and power generation. The company operates in all major regions, including the Americas, Europe, Africa, the Middle East, and Asia Pacific.

Global Energy Perspective 2024: Energy Management Systems Market Outlook

The global Energy Management Systems Market is expected to grow from USD 44.19 billion in 2024 to USD 84.34 billion by 2029, at a CAGR of 13.8% from 2024 to 2029. The global energy management system market is mainly pushed through the increasing emphasis on power efficiency and the growing need to reduce operational prices across diverse industries. As energy expenses keep to differ and regulatory pressures accentuate, organizations are in search of advanced solutions to optimize strength intake, improve productivity, and reduce carbon emissions. energy management system solutions offer actual-time monitoring, predictive analytics, and automation abilities that permit organizations to manipulate their energy utilization more efficiently, main to big cost financial savings and more advantageous sustainability. This demand for electricity efficiency is specially robust in strength-in depth sectors which includes manufacturing, utilities, and industrial actual property, wherein the implementation of energy management system can result in sizeable financial and environmental advantages.

 

Another key driving force is the worldwide push in the direction of sustainability and the transition to renewable energy assets. Governments and regulatory bodies global are enforcing stringent strength efficiency standards and carbon reduction goals, compelling corporations to adopt energy management system to conform with these mandates. EMS answers play a crucial position in handling the combination of renewable energy sources, such as solar and wind, into current electricity systems, ensuring that electricity consumption is optimized and emissions are minimized. This alignment with worldwide sustainability desires is accelerating the adoption of energy management system throughout various areas, further driving market growth. Technological improvements are also extensively contributing to the enlargement of the energy management system market.

 

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End User Analysis

 

The Power & Energy segment holds the fifth-largest market share in the global Energy Management Systems (EMS) market due to its critical role in optimizing energy production, distribution, and consumption across a highly regulated and infrastructure-heavy industry. While the sector is fundamental to the broader energy ecosystem, its market share within the EMS market is comparatively lower because of the slower pace of technology adoption and the complexities involved in integrating advanced EMS solutions into existing power grids and generation facilities. However, the rising emphasis on grid modernization, the integration of renewable energy sources, and the need for improved efficiency in power generation and transmission are driving the gradual adoption of EMS in this segment. As utilities and energy providers face increasing pressure to reduce operational costs and comply with stringent environmental regulations, the demand for EMS solutions is expected to grow, albeit at a more measured pace compared to other industries.

 

Regional Analysis

 

North America holds the largest market share in the global energy management systems market as its advanced energy systems, high technology, strong regulatory framework that promotes energy efficiency and sustainability, encourage Investments in infrastructure, integration of renewable energy, further modernization of aging energy systems contribute to increased use of EMS. Leading EMS providers and well-established markets applications in the energy sector reinforce North America’s leadership position in the global EMS market. Also, the regulatory compliance is another factor for driving demand of EMS systems in this region.

 

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Key Market Players:

 

Key players in the global Energy Management Systems Market include Schneider Electric (France), Siemens (Germany), Honeywell International Inc. (US), Johnson Controls, Inc (US), ABB (Switzerland), General Electric (US), Eaton (Ireland), Emerson Electric Co. (US), Mitsubishi Electric Corporation (Japan), and Hitachi, Ltd. (Japan).

 

General Electric

 

General Electric Company (GE) is a key player in the global EMS market, leveraging its deep expertise in commercial capabilities to provide ongoing EMS response. GE EMS offerings are based on its Predix platform, commercial IoT answers that allow for real -time tracking, predictive security, and power efficiency across industries. These solutions are designed to help businesses improve productivity, reduce power costs, delivering advanced analytics and automation capabilities to improve energy efficiency and sustainability. In addition, GE globally accesses its large provider networks to ensure that its EMS solutions are available to a variety of customers more, and contributes to its greater presence in the global EMS market.

 

Schneider Electric

 

Schneider is a global leader within the energy management systems (EMS) market, regarded for its complete answers that integrate superior technologies for energy efficiency across industries. The company offers a extensive variety of EMS solutions for, which include software platforms, hardware additives ; With projects designed to guide sustainable improvement desires Schneider Electric's EcoStruxure platform, the important thing presenting for its EMS department, gives a bendy and secure framework that integrates IoT, real-time analytics and synthesis of artificial intelligence. These solutions deliver relevant insights and automates energy initiatives. The organisation's robust attention on innovation, coupled with its full-size global presence, drives Schneider Electric's dedication to move so sustainable has set up itself because the desired partner for agencies, commercial buildings and strength companies seeking to enforce smart strength solutions. With its ability to deliver EMS solutions tailored to particular enterprise desires has further solidified its leadership in the global EMS market.

The Ultimate Guide to Understanding Energy Efficient Motor Market

The global Energy Efficient Motor Market will grow to USD 59.3 Billion by 2028 from USD 41.7 Billion in 2023, at a CAGR of 7.3% during 2023-2028. An energy efficient motor is a type of electric motor that is designed to consume less electrical energy while providing the same level of output as a standard motor. Energy-efficient motors help achieve significant energy savings, reduce greenhouse gas emissions, and lower operating costs due to the longer lifespan of these motors. The lower life cycle costs over traditional motors, government initiatives encouraging the adoption of energy efficient motors, and increasing adoption of energy-efficient motors in the industrial sector are a few of the major drivers for the energy efficient motor market growth.

 

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In the industrial sector, energy efficient motor are used in a variety of applications, such as pumps, compressors, fans, conveyors, and processing equipment for achieving improved energy efficiency, lower operating costs, reduced downtime, enhanced performance, and increased system reliability. Many companies have investing in energy efficient technologies to achieve their targets to minimize their greenhouse gas emissions. This is anticipated to propel the demand for energy efficient motors in the industrial end user segment.

Energy-efficient electric motors are used in heating, ventilation, and air conditioning (HVAC) solutions, especially in commercial buildings, especially for maintaining good indoor air quality and providing thermal comfort. HVAC systems are based on the laws of thermodynamics, and principles of fluid mechanics and heat transfer. The most commonly used motors in HVAC applications are induction motors; three-phase for commercial/industrial premises, and single-phase for certain smaller installations. The growth of the HVAC market is propelled by rapid industrialization and urbanization, which has enhanced the need to maintain air quality in indoor spaces like offices and manufacturing units, and growing demand for energy-efficient devices.

 

North America region is expected to hold the second largest and fastest-growing energy efficient motor market share. The use of energy efficient motors in the region is increasing rapidly due to growing investments in major verticals such as industrial, commercial, and transportation. Countries in North America have been focusing on energy efficiency through programs, partnerships, and initiatives. For instance, the Industrial Efficiency and Decarbonization Office (IEDO) aims to improve the energy and material efficiency, productivity, and competitiveness of manufacturers across the industrial sector. Asia Pacific accounted for largest energy efficient motor market share.

 

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Key Market Players:

 

Some of the major players in the Energy Efficient Motor Market are Regal Rexnord Corporation (US), ABB (Switzerland), Siemens (Germany), Wolong Electric Group Co., Ltd (China), and Nidec Corporation (Japan).

 

Regal Rexnord

 

Regal Rexnord Corporation is a company that provides energy efficient motors, with efficiency levels ranging from IE1 to IE5 for a wide range of sectors, such as industrial, residential, commercial, and automotive. In recent years, the company has been focusing on expanding its portfolio of energy-efficient motors. The company has been investing in research and development to design and manufacture high-performance motors that meet the energy efficiency standards set by various regulatory bodies around across the world.

 

ABB

 

ABB is a company that provides a range of International Electrotechnical Commission (IEC) standard motors that are designed to meet the high-performance and efficiency requirements of a wide range of applications. ABB invests heavily in research and development in a bid to continuously improve and innovate its energy-efficient motion control offerings to meet the changing needs of its customers. Its latest launch, M3BP motors, are a series of premium efficiency motors for use in the food and beverage, pulp and paper, and water and wastewater industries.

Growing Trend of Distributed Power Generation Presents New Opportunities for Silent Generators

 According to the new market research report "Silent Generator Market by Sound Level (Super Silent, Silent), Fuel (Diesel, Natural Gas), Power Rating (Up to 25 kVA, 25-49 kVA, 50-99 MW, 100-499 kVA, & Above 500 kVA), Phase, Type, Application, End-User Industry and Region - Global Forecast to 2027", published by MarketsandMarkets™, the Silent Generator Market size will grow to USD 4.1 billion by 2027 (forecast year) from USD 3.0 billion in 2022 (estimated year), at a CAGR of 6.5% during the forecast period. Silent generators are machines that convert mechanical energy into electricity. They can be used for residential, commercial, as well as industrial purposes. They are widely preferred because of their reliable performance, ease of operation, and soundproof enclosure. The increasing demand for uninterrupted and reliable power supply from several end users in the healthcare, telecom, and mining sectors and educational institutions, commercial complexes, and residential spaces is expected to fuel the demand for silent generators during the forecast period.

The silent generators segment is expected to grow at the highest CAGR from 2022 to 2027

Based on the sound level of silent generator systems, the silent segment is estimated to be the fastest-growing market from 2020 to 2027. Super silent generators sound level is below 60 (dB) and silent generators sound level ranges between 60 (dB) to 70 (dB). Silent generators are useful in schools, hospitals, courts, etc. whereas super silent generators are very much helpful for residential and commercial purpose.

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The diesel segment, by fuel, is expected to grow at the highest CAGR from 2022 to 2027.

Based on the fuel of silent generator systems, the diesel component is estimated to be the fastest-growing market from 2020 to 2027. The Silent Generators Market by fuel type is classified into diesel, natural gas and others. Diesel generators are used for emergency purpose and come with single and three phase. Companies like Atlas Copco, Cummins, Generac and Mahindra Powerol are top producer of silent diesel generators. The natural gas generators are environment friendly. Companies such as Generac, Honda are key players for silent natural gas generators. The other generator fuel types include petrol, LPG, biodiesel, coal gas, producer gas, and propane gas-based generators.

The standby and peak segment is expected to dominate the Silent Generator Market, by application, during the forecast period.

The standby and peak segment, by application, is projected to hold the highest market share during the forecast period. The standby generators are very useful in power outages and blackouts and are driving the market growth globally. Increased industrialization has boosted growth opportunities for silent generators driven by reliability on backup power solutions.

The residential segment is expected to dominate the Silent Generator Market, by end-user, during the forecast period.

The Silent Generator Market has been segmented, by end user, into residential, commercial, and industrial. Generators used for residential purposes should be compact, noise-free, and affordable; here, silent generators are helpful. Frequent blackouts and severe weather conditions across various regions are expected to boost the demand for residential silent generators. In commercial use, silent generators could be the ideal option for healthcare facilities, courts, and educational institutions, since these are silent zones. These generators can also be used in the hotel industry as well as offices. The increasing applications of commercial silent generators in small business establishments are expected to boost their demand in the Silent Generators Market globally. Silent generators can be beneficial for industrial use, such as at construction sites, manufacturing units, and power generation plants. The industrial sector produces a high level of noise during their operations; silent generators can help to overcome this problem.

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North America is expected to lead the Silent Generator Market

North America accounted for a 36.8% share of the Silent Generator Market in 2022. The countries covered in the region are US, Canada, Mexico and the Rest of North America. North America is projected to hold the largest size of the Silent Generator Market during the forecast period due to the growth of the industrial sector. The demand for energy in the mining and oil & gas industries is likely to propel market growth. Increased shale gas developments in the region are also fueling the growth of diesel fuel-type silent generators.

The key players include Atlas Copco (Sweden), Cummins Inc. (US), Generac (US), Rolls-Royce Holdings(UK), Honda (Japan). 

Industrial Filtration Market Huge Growth Opportunity between 2022-2027

 According to the new market research report "Industrial Filtration Market by Type (Air & Liquid), Product (Filter Press, Bag, Drum, Depth, Cartridge, HEPA, ULPA), Filter Media (Activated Charcoal, Fiberglass, Filter Paper, Metal, Nonwoven Fabric), Industry and Region - Global forecast to 2027", published by MarketsandMarkets™, the global Industrial Filtration Market is projected to reach USD 45.2 billion by 2027 from an estimated market size of USD 33.5 billion in 2022, at a CAGR of 6.2% during the forecast period. The key drivers for the growth of the Industrial Filtration Market include government mandates and policies for environmental protection, the need for safe working environments in industrial facilities, increased demand for equipment reliability and extended lifecycle, and industrial development in developing countries.

The liquid segment is expected to be the largest segment of the Industrial Filtration Market, by type, during the forecast period

The Industrial Filtration Market, by type, is segmented into liquid type and air type. The liquid type segment is expected to be the largest segment in the Industrial Filtration Market, by type, during the forecast period. Increasing environmental regulations related to the discharge of pollutants into the water bodies is expected to fuel the growth of the liquid type segment of the Industrial Filtration Market.

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The bag filter segment is expected to be the largest market, by product, during the forecast period

The Industrial Filtration Market, by product, is segmented into bag filter, filter press, cartridge filter, depth filter, drum filter, electrostatic precipitator, ULPA, HEPA and others. The market for bag filter is expected to hold the largest size of the market for industrial filtration during the forecast period. Low maintenance and low operational cost are driving the demand for bag filters.

The chemicals and petrochemicals is expected to be the largest market, by industry, during the forecast period

The Industrial Filtration Market, by industry, is segmented into food & beverage, chemicals & petrochemicals, power generation, oil & gas, pharmaceuticals, metal & mining, automotive and others. The chemicals & petrochemicals industry is expected to be the largest market for industrial filtration during the forecast period. The growth of this segment is driven by stringent regulations to reduce particulate emissions in food and beverage facilities.

North America is expected to dominate the global Industrial Filtration Market

The North America region is estimated to be the largest market for the industrial filtration, followed by Asia Pacific. The North American region is expected to lead the Industrial Filtration Market during the forecast period. The increasing investments in the manufacturing industry to control harmful particulate emissions and the rising stringent air pollution control norms are driving the Industrial Filtration Market in the region.

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The Industrial Filtration Market is served by a mix of large international players with operational presence across the globe and local players commanding a strong supply network in the domestic market. The leading players in the global Industrial Filtration Market include MANN + HUMMEL (Germany), Danaher (US), Parker - Hannifin (US), 3M (US) and Cummins (US).

Industrial Power Supply Market to See Huge Growth by 2026

 According to the new market research report "Industrial Power Supply Market By Type (AC-DC and DC-DC Converter), Output Power (Very Low Output(up to 500W), Low Output(500-1,000W) Medium Output(1,000W–10kW), High Output(10-75kW), Very High Output(75-150kW), Vertical, Region - Global Forecast to 2026", published by MarketsandMarkets™, the global Industrial Power Supply Market size is projected to reach USD 9.7 billion by 2026.The global Industrial Power Supply Market size is expected to grow from an estimated USD 7.0 billion in 2021 to USD 9.7 billion by 2026, at a CAGR of 6.9 %. The drivers for this market are Increasing demand for energy-efficient devices in industrial sector and Surging adoption of electric vehicles worldwide. The market is segmented by product type, output power, vertical, and region.

AC−DC Converters is expected to dominate the Industrial Power Supply Market.

The market is segmented by product type into AC−DC converters and DC−DC converters. AC−DC converters accounted for the larger share of the Industrial Power Supply Market in 2020. Rising demand for AC-DC power sources in automotive charging and defense applications to propel the growth of market for AC-DC converters.

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Transportation is projected to have a higher growth rate in the Industrial Power Supply Market.

The market is segmented by vertical into transportation, military & aerospace, lighting, test & measurement, semiconductor, battery charging & test, robotics, industrial 3D printing, and laser. The transportation segment is estimated to lead the market and is also expected to register a higher CAGR. In automotive applications, power supplies are used in high-performance electric vehicle charging stations and they are also used in electric vehicles (EVs) and hybrid electric vehicles (HEVs) to change the DC power from an on-board high-voltage battery into lower DC voltages to power headlights, interior lights, wipers, window motors, fans, pumps, and many other systems. The growing demand for electric vehicles to reduce the overall carbon footprint is a major driver for the transportation vertical in the Industrial Power Supply Market.

Asia Pacific is expected to dominate the global Industrial Power Supply Market.

Asia Pacific is estimated to be the largest Industrial Power Supply Market during the forecast period. As per the International Energy Agency (IEA) report, around 45% of electric cars on the road in 2018 were in China which is a total of 2.3 million as compared to 39% in 2017. Top EV manufacturers such as SAIC, FAW, Dongfeng, Chana, etc. have their manufacturing locations situated in China, wherein a lot of power supplies is demanded per year for the testing requirements. Also, the rising industrial automation in the countries like India & Japan along with the strict regulations and standards for the use of industrial electronics in developing countries such as China, Japan, and, India are the driving factors for the growth of industrial power supplies market in the region.

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To provide an in-depth understanding of the market’s competitive landscape, the report includes the profiles of some of the top manufacturers in the Industrial Power Supply Market. These players include TDK Lambda (Japan), XP Power (Singapore), Delta Electronics (Taiwan), Siemens (Germany), and Murata Power Solutions (US).

Industrial Filtration Market to See Strong Growth through 2025

The global Industrial Filtration Market size is expected to grow from an estimated value of USD 29.5 billion in 2020 to USD 41.1 billion by 2025, at a CAGR of 6.9% from 2020 to 2025. The growth of this market is driven by strict government regulations to eliminate air and water pollution. The demand for the treatment of industrial waste and the requirement of a safe working environment in industrial facilities also expected to increase the demand for industrial filtration. The growth of industrial filtration market is driven by the increasing demand for a clean environment and energy-efficient filtration products.

Liquid filtration is expected to be the most significant contributor to the industrial filtration market

Liquid type filtration accounted for the highest share of the industrial filtration industry in 2019. Strict government regulations to filter the discharges of pollutants into the water bodies, investment in the wastewater treatment plant are expected to drive the growth of the liquid type industrial filtration market. Furthermore, the market for pressure filtration by technology is expected to be the largest market.

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Filter Press is expected to be the fastest-growing segment of industrial filtration market

Filter Press are used for filtering liquid using pressurized air. Filter Press segment is expected to be the fastest-growing market from 2020 to 2025 owing to the increasing need for liquid filtration for various industries. Filter Press is used to remove impurities from solid-liquid slurry in the chemical industry to make chemical reusable, which in turn drives the market of filter press in industrial filtration. North America is expected to be the largest market during the forecast period due to the advanced technologies used in this region.

Pharmaceuticals are expected to grow at the highest CAGR during the forecast period. This industry uses filtration for the removal of suspended particles and to reduce bacteria in-process components. Filtration helps in protecting process solutions from contamination when stored in tanks. Removal of suspended particles and bacteria from water and air is expected to drive the pharmaceutical industry.

North America is expected to be the largest industrial filtration market

North America is the largest market for industrial filtration. The region has been segmented by country into the US, Canada, and Mexico. The demand for industrial filtration in this region is driven mostly by the manufacturing, oil & gas, power generation, pharmaceutical, metal & mining and process industries. It is the largest market for industrial filtration during the forecast as it is the second-largest producer of crude oil which generates waste, which is needed to be treated. Manufacturing is the largest sector globally as they increase the operational life of machines and equipments. Moreover, this region also houses some of the major manufacturers who continuously focus on R&D to innovate new technologies.

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The major players in the global Industrial Filtration Market, such as Alfa Laval (Sweden), Donaldson (US), Danaher (US), Parker Hannifin (US), Eaton (Ireland), Ahlstrom-Munksjö (Finland).

Trends and Opportunities for the Industrial Gearbox Market

The global Industrial Gearbox Market is expected to grow from an estimated $25.91 billion in 2018 to $31.90 billion by 2023, at a CAGR of 4.25% from 2018 to 2023.  Increasing requirement for efficient energy gearbox and clean energy sources are driving the growth of the industrial gearbox market. The increasing automation in manufacturing technology is facilitating the growth of the industrial gearbox market. In addition, increasing investments in renewable power generation, with a skew towards wind power, is driving the industrial gearbox market.

The wind power segment is expected to grow at a high rate in the industrial gearbox market

The wind power segment is expected to grow at the fastest rate in the industrial gearbox market. The growth in the wind power segment is driven by the increasing investment in wind power installations in Asia Pacific, North America, and Europe. The Global Wind Energy Council has projected installation of more than 300 GW of wind power during the forecast period. A large number of installations are projected to be in Asia Pacific, North America and European regions. The growing installation of wind turbines will drive the growth of industrial gearboxes.

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Industrial Gearbox market has been segmented on the basis of end-user industries:

 

·         Wind Power

·         Cement & Aggregates

·         Chemical, Rubber & Plastics

·         Construction

·         Food & Beverage

·         Marine

·         Material Handling

·         Metals & Mining

·         Power Generation

·         Recreational Vehicle

·         Transportation Industry

·         Agriculture

·         Automotive

·         Others (Aerospace, Defence, Semiconductor, Robotics, Textile, Healthcare)

Asia Pacific is expected to be the largest industrial gearbox market

Asia Pacific region is estimated to lead the Industrial Gearbox market in the forecast period. The market in Asia Pacific is expected to hold the largest share and is forecast to grow at the fastest rate during the forecasted period.  The region holds the largest market share globally as the countries such as China and Japan are among the largest manufacturing countries in the world. In addition to this, the projected installation of wind power and the growing automation in the manufacturing industries in the region is driving the growth of the industrial gearbox market in Asia Pacific.

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Some of the top players in the Industrial Gearbox Market include Siemens AG (Germany), Bonfiglioli Italia S.P.A (Italy), Bondioli & Pavesi (Italy), Sew-Eurodrive (Germany), and Dana Brevini (Italy).

Power Supply Market Huge Growth Opportunity between 2018–2023

 The global Power Supply Market is estimated to grow from USD 25.20 billion in 2018 to USD 34.92 billion by 2023, at a CAGR of 6.7% from 2018 to 2023. Increasing adoption of home and building automation systems, the emerging telecommunications sector, and rising demand for energy-efficient devices/appliances are driving the power supply market growth. Also, the increasing usage of power supplies for various lighting applications will drive the need for AC-DC and DC-DC power supplies in the coming years. Along with lighting, industrial and consumer electronics are the key verticals driving the power supply market.

Power supply with low output power expected to account for largest market size

Power supply with low output power is expected to hold the largest size of the power supply market in 2018. This can be attributed to the increasing use of AC-DC power supplies with low output power in lighting, telecommunications, and consumer electronics. Moreover, various industrial applications, such as home and building automation systems, operate in this power range due to the benefits such as reduced power control system size, weight, and cost; this also makes the consumption of electricity more efficient. Hence, owing to the increasing demand for energy-efficient devices/appliances and advancements in telecommunications and medical sectors will upsurge the growth of power supplies with low output power.

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A power supply is a device that accepts an AC power input, rectifies and filters it and then applies the resulting DC voltage to a regulator circuit that provides a constant DC output voltage. There are a wide variety of AC-DC and DC-DC power supplies that can have an output voltage from less than 1 V to thousands of volts and output power ranging from 0.1 W to thousands of watts. AC-DC and DC-DC power supply applications from verticals such as lighting, industrial, consumer electronics, and medical are driving the market by integrating it in various devices such as street lighting, home lighting, wearable bands, smartphones, and patient-monitoring devices.

The power supply market in APAC is expected to grow at the highest CAGR

APAC is expected to dominate the overall power supply during the forecast period. This growth can be attributed to the strong demand for consumer equipment, including portable healthcare electronics and white goods. Increasing digitization and automation in various sectors is likely to generate demand for power supplies in APAC.

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Major players operating in the Power Supply Market include MEAN WELL (Taiwan), TDK Lambda (Japan), Siemens (Germany), General Electric (US), XP Power (US), Murata Power Solutions (Japan), Artesyn (US), Phoenix Contact (Germany), Delta Electronics (Taiwan), Cosel (Japan), PULS (Germany), CUI (US), AcbelPolytech (Taiwan), Salcom (Finland), LITE-ON Power System Solutions (US), FSP (Taiwan), Power Innovation (Germany), MTM Power (Germany), and Power Systems & Controls (US).

Energy Efficient Motor Market May Set New Growth Story

 The global Energy Efficient Motor Market is projected to reach USD 41.6 billion by 2023 from USD 30.3 billion in 2018, at a CAGR of 6.5% between 2018 and 2023. The major factors driving the growth of the energy efficient motor market are energy savings and the subsequent cost over traditional motors, increasing governmental support worldwide towards the adoption of energy efficient motors, rising need to reduce the greenhouse effect, and growing adoption of energy efficient motors in the industrial sector.

Energy efficient motors are used in various application areas in the agriculture industry; these applications include irrigation, ventilation, grain handling, material handling, aeration, and conditioning. Motors are among the largest energy consuming devices on farms. Motors used in the agriculture sector account for 18% of the on-farm energy consumption worldwide. Also, the energy saving solutions are applicable to all segments of the agriculture sector including dairies and livestock producers, nurseries, crop farmers, and food processing companies. This would further propel the growth of the energy efficient motor market

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The energy-efficient electric motor market for the HVAC application projected to grow at the highest Growth Rate.

Energy-efficient electric motors are implemented for heating, ventilation, and air conditioning (HVAC) solutions, especially in commercial buildings. HVAC systems operate based on the laws of thermodynamics, and principles of fluid mechanics and heat transfer. These motors are equipped in electromechanical products, such as pumps, fans, compressors, and refrigerators. The primary objective of HVAC systems is the maintenance of good indoor air quality, providing sufficient ventilation through air filtration, and thermal comfort. The growth of the HVAC application market is driven by government support, increasing industrialization and urbanization, development of advanced solutions, and growing demand for energy-efficient devices.

The industrial vertical accounted for the largest share of the overall energy efficient motor market.

Energy efficient motors are extensively used in various industries, including oil & gas, marine, power & energy, mining, and water & wastewater, to help reduce energy consumption as well as operational costs. Electric motors account for 60–70% of the total electricity consumed in the industrial sector. Hence, manufacturers of electric motors have undertaken efforts to improve the efficiency of motors. Energy consumption is one of the major economic and environmental issues of concern, leading to the growing need for, and an increase in the adoption of energy efficient motors. The demand for energy efficient motors in various industries is increasing to enable a reduction in electricity consumption and lower carbon dioxide (CO2) emissions.

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The Asia Pacific is expected to be the fastest-growing market of energy efficient motor.

The Asia Pacific is projected to be the fastest-growing regions in the energy efficient motor market by 2018, and grow at the highest CAGR during the forecast period. According to the Asian Development Bank (ADB), the share of the region to global energy consumption is expected to increase from 34% in 2010 to 56% by 2035. ADB has undertaken investments worth USD 970 million in energy efficiency projects, which are expected to help the Asia Pacific countries meet their national targets for energy efficiency and the reduction of greenhouse gas emissions by 2020.

Some of the key players in the Energy Efficient Motor Market, such as ABB (Switzerland), Siemens (Germany), WEG (Brazil), GE (US), Schneider Electric (France), Nidec (Japan), Rockwell (US), CG (India), Bosch Rexroth (Germany), and Kirloskar Electric (India).

Smart Gas Meter Market: Growing Emphasis on Smart Grid Initiatives and Modernization of Gas Networks

 The global Smart Gas Meter Market size is expected to grow from an estimated USD 2.0 billion in 2021 to USD 2.5 billion by 2026, at a CAGR of 4.7%, during the forecast period. The key drivers for the Smart Gas Meter Market include digitalization of distribution grids and optimization of network operations; asset management of advanced metering infrastructure (AMI); and increasing investment in smart grid technologies to measure and analyze data. Growing emphasis on smart grid initiatives and modernization of gas networks, and integration of artificial intelligence (AI) into smart gas meter operations offer high-growth opportunities for the Smart Gas Meter Market.

The residential segment is the largest contributor in the Smart Gas Meter Market.

The residential segment is estimated to lead the Smart Gas Meter Market. Asia Pacific was the largest market for residential end user segment in 2020. Increasing focus on energy efficiency is expected to drive the Smart Gas Meter Market. The other key drivers for the growth of the Smart Gas Meter Market for the residential sector are the introduction of mandates and regulations in support of smart gas meters at residential facilities. Countries such as Australia, China, Japan, the UK, France, and Italy have mandated the installation of smart gas meters at residential buildings.

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The automated meter reading (AMR) segment is expected to grow at the fastest rate.

The automated meter reading (AMR) segment accounted for the highest share of the Smart Gas Meter Market, by technology during the forecast period. The market for gas smart gas meter is driven by the growing demand for cost-effective smart gas meters and the need for automated collection of meter readings without physical inspection.

The smart diaphragm gas meter is expected to be the largest segment smart gas meter market.

The smart diaphragm gas meter held the largest share of the Smart Gas Meter Market, by type in 2020. The growth of the smart diaphragm gas meter segment is driven by the increasing number of residential & light commercial buildings to propel demand for smart diaphragm gas meter. The market for the smart diaphragm gas meter segment in Europe is expected to grow at the highest CAGR during the forecast period. To cater to the increasing demand for gas in residential and commercial areas and to provide gas supply with high reliability, is expected to drive the smart diaphragm gas meter market.

Asia Pacific is expected to be the largest and fastest-growing market for smart gas meter.

Asia Pacific accounted for the largest share of the global Smart Gas Meter Market in 2020. The region has been segmented, by country, into China, Japan, Malaysia, Australia, Indonesia, Singapore, and the Rest of Asia Pacific. China is the largest and fastest-growing market in the region. The country currently leads the table for new investments in smart grid technologies. China managed to become the major consumer of smart grid technology because of the massive transformation taking place in the country’s energy landscape. The country’s ambitious renewable energy program will generate a tremendous need for smart grid technologies. The requirement for the smart grid market is further supported by China’s focus on embracing energy efficiency, thus, increasing demand for Smart Gas Meter Market.

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Major players operating in the Smart Gas Meter Market include companies such as Landis + Gyr (Switzerland), Itron (US), Honeywell International (US), Apator Group (Poland), and Diehl Metering (Germany).