Thursday, 14 May 2020

Hematologic Malignancies Therapeutics Market 2020 Revenue Status & Forecast Report 2025

The Global Hematologic Malignancies Therapeutics Market Size is anticipated to reach over USD 87.0 Billion by 2025 according to a new research published by Polaris Market Research. 

Hematological malignancy is a type of cancer that affect the bone marrow, blood, and lymph nodes. They include several forms of myeloma, leukemia, and lymphoma. According to an industry report in 2011, Hematological malignancies constituted 9% of all newly diagnosed malignancies in the U.S. specifying that lymphomas are more prevalent than myeloma or leukemias. Excluding Hodgkin’s lymphoma as well as acute lymphocytic leukemia, these types of malignancy are usually related to growing age. Hence, considering the aging worldwide population, malignancy type is more probable to become more prevalent.


The global Hematologic Malignancies Therapeutics Market growth is majorly driven by the increasing focus on development for novel treatments and growing occurrence of blood cancer. Currently, blood malignancies are the second most leading cause of cancer deaths and the 5th most common cancer. The three most common types of blood cancers are multiple myeloma leukemia, and lymphoma. Each year, approximately 400,000 people are diagnosed with lymphoma and more than 300,000 people are diagnosed with leukemia globally. In addition, inventions of novel drugs for blood cancer and its regulatory approvals are anticipated to bolster the market growth. For instance, in 2015, Pfizer announced that its antibody-drug conjugate- inotuzumab has received USFDA approval for acute lymphoblastic leukemia.  

The Global Hematologic Malignancies Therapeutics Market is segmented on the basis of type, therapy, and geography. Based on type, the market is segmented into leukemia, lymphoma, multiple myeloma, and others. The leukemia is further segmented into acute lymphocytic leukemia, chronic lymphocytic leukemia, acute myeloid leukemia, and chronic myeloid leukemia. On the basis of type, leukemia was estimated to dominate the market. The major market share is due to availability of products such as Imbruvica, Rituxan, and Glivec, which are estimated to be the highest revenue generating drugs. On the basis of therapy, the global Hematologic Malignancies Therapeutics Market is segmented into Chemotherapy, Radiotherapy, Immunotherapy, Stem Cell Transplantation, and Others. Amongst all the therapies, chemotherapy is the most commonly used treatment with a particular drug or combination of drugs used.
  

On the basis of region, the global Hematologic Malignancies Therapeutics Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America was estimated to dominate the global market. The dominance is majorly attributed to the high presence of key market players, availability of branded drugs, established healthcare organization, and increasing government support in the region. However, Asia Pacific is expected to dominate the global market during the forecast period. Increasing awareness about early diagnosis, availability of effective treatment in emerging countries, such as India and China, growing healthcare expenditure, and high unmet clinical needs of patients, are some of the factors anticipated to significantly boost the market in the Asia Pacific.

Some major key players in global Hematologic Malignancies Therapeutics Market includes Pfizer, Inc., F. Hoffmann-LA Roche ltd, Sanofi-Aventis, Bristol-Myers Squibb Company, AbbVie, Inc., Novartis AG, GlaxoSmithKline PLC, Celgene Corporation, Johnson & Johnson Services, Inc., and Takeda Pharmaceutical Company limited among others. The object of the key market players is to deliver better chronic care administration while keeping the cost low. In addition, the companies are concentrating on producing easy-to-use monitoring devices that can aid patients to accomplish conditions including diabetes or heart diseases better by avoiding costly medical processes.


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Wednesday, 13 May 2020

Acetone Market Recent trends, Major Driving Factors and Business Growth Strategies 2026

The global Acetone market size is expected to reach USD 6.19 billion by 2026 according to a new study by Polaris Market Research. The report “Acetone Market Share, Size, Trends, Industry Analysis Report, By Grade (Specialty Grade, Technical Grade); By End-User (Construction, Automotive, Cosmetics and Personal Use, Paints and Coatings, Pharmaceutical, Agriculture, Others); By Application (Bisphenol A, Methyl Methacrylate (MMA), Solvents, Methyl Isobutyl Ketone, Others); By Regions; Segment Forecast, 2020 – 2026” gives a detailed insight into current market dynamics and provides analysis on future industry growth.

The market is projected to witness a growth over the forecast period. There has been a significant growth in the demand for acetone from pharmaceutical, automotive, and construction sectors over the years. Growing awareness regarding personal care, increasing demand for solvents, application in varied industries, and rising disposable income are some factors boosting the market growth. It is also used as an organic and non-toxic alternative for containing oil spills by dissolving sludge and eliminating it from the surface of water or marine plants.


With increasing investments in the global Acetone industry, companies, manufacturers, private organizations are collaborating to expand and cater to wider applications. In August 2019, ALTIVIA Petrochemicals completed the acquisition of Dow’s Acetone Derivatives Business and associated chemical manufacturing assets in United States. The acquisition is expected to assist ALTIVIA in increased production of Ketones and Carbinols, and strengthen its position in the coatings, adhesive and pharmaceutical industries. The addition would expand its acetone production and increase its geographic penetration.
  
The applications of acetone include Bisphenol A, Methyl Methacrylate (MMA), Solvents, Methyl Isobutyl Ketone, and others. The solvents segmented accounted for the highest share in 2019. The growth in the personal care industry is expected to drive the market during the forecast period owing to wide applications. Acetone is a major component in a wide range of personal care products, such as cosmetics, cosmetic creams, fragrances, and hair dyes, among others. Growing hygiene and wellness concerns, especially among the youth, coupled with growth of e-commerce platforms are factors expected to provide numerous growth opportunities in the coming years


Asia Pacific emerged as the largest market in 2019 and is expected to maintain its dominance over the forecast period. Population growth, rising disposable incomes, and growing demand for personal care products drives the growth in the region. Rising industrialization, growth in the automotive sector, and strengthening pharmaceutical industry also supports market growth in this region. Increasing applications in agriculture, construction, and automotive further increases the demand of acetone in Asia-Pacific. Global players are expanding their presence and setting manufacturing units in this region owing to availability of infrastructure and labor.

The industry is characterized by established companies and large giants. Owing to technological advancements, and larger applications companies collaborating in order to retain the customers and gain market share. Broadening of product portfolio is another trend that is visible in the industry. Some of the major market participants include Hindustan Organic Chemicals Limited, Royal Dutch Shell PLC, Formosa Chemicals and Fiber Corporation, INEOS Phenol, Honeywell International Inc., BASF SE, Green Biologics Limited, Prasol Chemicals Pvt. Ltd., Borealis AG, Altivia, Reliance Industries Limited, Mitsui Chemicals Inc, LyondellBasell Industries Inc., and DOMO Chemicals GmbH.


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Aircraft Fuel Systems Market Development Factors, Latest Opportunities and Forecast 2026

The global Aircraft Fuel Systems Market size is expected to reach USD 7.50 billion by 2026 according to a new study by Polaris Market Research. The report “Aircraft Fuel Systems Market Share, Size, Trends, Industry Analysis Report By Aircraft Type (Commercial, Military, UAV), By Technology Type (Pump Feed, Fuel Injection, Gravity Feed), By Component Type (Pumps & Valves, Fuel Tank, Piping, Gauging, Inerting Systems, Others), By Engine Type (Jet Engine, Helicopter Engine, Turboprop Engine, UAV Engine), By Regions, Segments & Forecast, 2020 – 2026” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Aircraft fuel systems are designed to provide uninterrupted and uncontaminated free fuel regardless of the aircraft’s attitude. As fuel load take a significant portion of airliner’s weight, a sufficiently strong airframe is designed in a way to control fuel loads and shifts in weight. This is an essential system which pumps, manages, and delivers jet fuel to the propulsion system and auxiliary power unit (APU). The implementation and functional characteristics play a critical role in design, certification, and operational aspects of both military and commercial jets. These systems directly affect the performance of an airliner as compared to any other airplane system.
                                                                                                                                     
Globally, flights generated about 915 million tonnes of CO2 in 2019 which is equivalent of 2% of all human induced CO2 emissions (42 billion tonnes). Aviation sector is responsible for 12% of CO2 emissions in transportation industry as compared to 74% emitted by road transport. Government and Federal Organizations are trying to regulate tough protocols for airplane OEMs and fuel system manufacturers in order to reduce the carbon emissions. An airplane fuel system consists of mainly storage tanks, valves, pumps, and metering & monitoring devices which are designed under strict Title 14 of the code of Federal Regulations guidelines. To meet the FAA requirements, the manufacturers design the systems which are free from vapor lock when using the jet-fuel at critical temperature. The tanks are separated from personnel compartments of the aircrafts by fume-proof and fire-proof enclosures which are vented and drained to the exterior of the airplane. The components of this system are bonded and grounded in order to drain off static charge.


Furthermore, increasing global airliner fleet, increasing commercial & regional airplane production & deliveries, growing revenue passenger kilometers, growing demand of lightweight components for achieving higher fuel efficiency & save costs, rising demand for fuel efficient & lightweight fuel systems are some for the major factors aiding in the growth of global industry.

Among airplane type, the market is segmented into commercial, military, and UAV. Commercial airliners are expected to be the largest market in 2019, owing to increasing production rates of the commercial airliner models such as B737, B787, A320, A350XWB, C919, A320 Neo, B737 Max, B777x, and A330 Neo. This segment is also propelled by rising commercial jet deliveries to support growing passenger traffic pushed by rising per capita income. Moreover, introduction of new generation fuel-efficient airliner models such as B737Max and B787 Dreamliner is another major factor aiding in the growth for the industry globally.

Among technology type, the market is segmented into pump feed, fuel injection, and gravity feed. In 2019, pump feed was estimated to be the largest market for fuel systems globally. This technology is majorly used on commercial and military jets as these are mid and low-wing airplanes with wing location not above the engines. The technology uses fuel-pumps to deliver the fuel from the tanks to engines.

Among component type, the market is segmented into pumps & valves, fuel tank, piping, gauging, inerting systems, and others. In 2019, gauging was estimated to be the most dominant component type followed by pumps & valves. Gauging is basically an instrument with sensing unit in the tank & indicator in the dashboard which is used to indicate and monitor amount of fuel in a tank. Pumps are used for transferring the fuel from the tanks to the carburetor whereas valves regulates & controls the flow by opening and closing or by obstructing the various fuel passage directions.


Among engine type, the market is segmented into jet engine, helicopter engine, turboprop engine, and UAV engine. In 2019, jet engine was estimated to be the most dominant engine type, according to Polaris Market Research. Jet engine basically powers the commercial airplane, regional planes, business jets, and military aircrafts. Increasing production rates of commercial airplane models such as A320, B787, B737, and Bombardier C series is one of the major factors aiding in the growth for jet engine segment and thereby driving the industry.

Among region, North America is expected to remain the largest region for aircraft fuel-systems globally as this region is the manufacturing capital of aerospace & defense industry due to large presence of aircraft OEMs, component manufacturers, fuel system vendors, distributors, and raw material suppliers. Moreover, presence of largest airplane fleet in the region is another major factor aiding the growth in this region.

Companies such as Collins Aerospace, Eaton, GKN Aerospace Services Limited, Honeywell International Inc., Meggitt PLC, PARKER HANNIFIN CORP, Safran, Triumph Group Inc., and Woodward Inc., are some of the major vendors operating in this industry.


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Clean Label Ingredients Market 2020 Industry Analysis on Trends, Growth, Opportunities and Forecast till 2026

The report “Clean Label Ingredients Market Share, Size, Trends, Industry Analysis Report By Application (Beverages, Bakery, Dairy & frozen desserts, Prepared food/ready meals & processed foods, Cereals & snacks, Others), By Form (Dry, Liquid), By Type (Natural colors, Natural flavors, Fruit & vegetable ingredients, Starch & sweeteners, Flours, Malt, Natural preservatives, Fermentation ingredients, Oils & shortenings, Emulsifiers, Cereal Ingredients)), By Regions, Segments & Forecast, 2020 – 2026” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The global Clean Label Ingredients market size is expected to reach USD 68.22 billion by 2026 according to a new study by Polaris Market Research

The market witnessed tremendous growth in the recent past and this trend is expected to continue from 2019 to 2026. Companies have developed products and formulations that have good taste, texture, smell, appearance and tolerance has resulted in wide consumer acceptance. The number of product clean label product launches is on the rise thus providing consumers with a wide variety of choice while still facilitating them to concentrate on their health. Dairy segment witnessed a wide range of product revamping and new product launches as well.


Growing product investment with using natural products for the coloring the products such as using brown colors from rice and organic sugarcane is boosting the product demand in processed food. The manufacturers are using organic processors desiring orange color from pumpkin juice and carrot concentrates. Shifting consumer preference towards organic based products is further enhancing the product growth. Shifting trend towards food that are least processed and maintaining the natural content of food will have significant impact over the coming years.

Increasing demand of consumer towards snacking and number of snacking occasions between meals will boost the product growth. Easy to carry and easy to use option of snacks offering healthy benefit will significantly improve the product demand. Snacks are widely preferred by the kids and parents are preferring to provide clean label cereal and snacks over conventional alternatives. Growing consumer focus on nutritional value of the product such as high protein, naturalness, high vitamins, no processing or minimum processing, is expected to significantly enhance the product demand. These are widely consumed in matured economies also. Increasing consumer spending towards health-oriented foods will further boost the product growth.


Presence of various major players particularly in the North American region are playing a significant role in the transformation of food and beverage industry. Multiple changes in nutritional recommendations, potential government legislation, and consumer demands has resulted in bringing the necessary amendments related to health conditions. The industry participants across the region are making strenuous efforts to bring advancements in clean label ingredients thereby enhancing quality of food products.

Clean Label product manufacturers completely offset the usage of artificial ingredients which have a negative impact on the overall human health. Clean Label Food & beverage manufacturers are deploying fortification of nutritional additives such as chia seeds, fruits, nuts, pumpkins, etc in their product offerings. The major motive of incorporating aforementioned additives in clean label food & beverage industry is to increase the nutritional content in food items.

Companies such as Cargill, Kerry Group PLC, Koninklijke DSM N.V., E. I. Du Pont De Nemours and Company, Ingredion Incorporated, Tate & Lyle PLC, and Archer Daniels Midland Company are some of the key players operating in the global market.


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Delivery Drone Market Trends by Types and Application, Operating Business Segments 2026

The global delivery drone market size is expected to reach USD 494.5 million by 2026 according to a new study by Polaris Market Research. Report gives a detailed insight into current market dynamics and provides analysis on future market growth.

 
Delivery drones are one of the types of unmanned aerial vehicles which can be operated remotely or autonomously and provides advantages such as delivery or distribution of packages during last mile delivery for commercial logistics or transportation industry. Also, the logistics & transportation vendors are taking sheer interests for adopting drone technologies in order to provide their services efficiently at rural & urban areas wherein, transportation vehicles have difficulty to reach at remote locations due to bad condition of roadways. For instance, according to Statistics Bureau, China had over 589 million of population living in the remote areas in 2017. Increasing adoption of drone technologies by growing e-commerce sector vendors is one of the major factors aiding the growth of delivery drones in China.




Delivery drones provides several advantages such as lower transportation costs, reduces delivery time by cutting down traffic, higher operational efficiency, lowers accidents, and lowers gas emissions. Moreover, the growth of the market is majorly attributed to rapidly growing drone industry throughout the world. For instance, according to Polaris Market Research analysis, in 2016, the drone units were pegged over 2.2 million units globally and continuously increasing owing to increasing production and adoption of drone technologies by different end use verticals such as military & aerospace and healthcare industries.
Companies such as Airbus SE, CyPhy Works, DJI Technology Co. Ltd., Drone America, JD.com, Matternet, SKYCART Inc., The Boeing Company, and Zipline are some of the key players operating in this market.


Furthermore, increasing adoption of drone technologies by quick service restaurant chains and healthcare vendors is another major factor aiding the growth of market. For instance, in 2016, Timbre (a Singapore based one of the largest restaurant chains) planned and tested 8 drones developed by Infinium Robotics (a Singapore based company) for serving in restaurants. Moreover in 2018, Zomato (an India-based restaurant search & discovery service company) acquired TechEagle Innovations Pvt Ltd. in order to offer drone-based food delivery services in India which is expected to create a good opportunity for drone manufacturers in the region during the forecast period.




However, there are still some regulations in the country which limits the usage of drones in India for commercial purposes such as goods delivery. In addition, stringent regulations by the Federal Aviation Administration (FAA) & logistical challenges are restraining the growth of delivery drones across the world. Also, poor infrastructure and complex terrain are expected to be other restraining factors for delivery drone industry.


Among drone type, rotary blade is expected to be the largest market for delivery drones in 2019, owing to its ease of use such as vertical take-off & landing features and also it is expected to retain its dominance during the forecast period of 2020-2026 as well. Hybrid drones are expected to be the fastest growing drone type during the forecast period, owing to advanced features such as higher payload capacity, longer flight time, and increased range up to 4-5 times of the normal delivery drones which generally have the travelling range of around 10-20 miles.



Among regions, North America is expected to be the largest market for delivery drones in 2018 and is expected to be the largest market during the forecast period as well. The growth of this region is majorly attributed to increasing production of drones and increasing adoption of drones for different commercial applications in the region. Also, in 2015, the FAA granted new exemptions for the QSR or logistics companies to operate drones in the United States which is expected to drive the market for delivery drones during the forecast period.

 


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Natural Food Colors Market Key Strategies to Use to Dominate Globally 2020-2026

The global natural food colors market size is expected to reach USD 2,984.9 Million by 2026 according to a new study by Polaris Market Research. The report “Natural Food Colors Market Size, Share & Trend Analysis Report, By Type (Carmine, Curcumin, Paprika, Turmeric, Beet, Anthocyanins, Caramel, Annatto, Carotenoids, Chlorophyll, Spirulina, Others); By Form (Liquid, Powder, Gel, Emulsion); By Application (Bakery & Confectionery, Beverages, Dairy Products, Frozen Products, Meat Products, Others), Regions and Segment Forecasts, 2020- 2026” gives a detailed insight into current market dynamics and provides analysis on future market growth.

 Some of the important players profiled in the report include Archer Daniels Midland Company (U.S.), Allied Biotech Corporation, BASF SE (Germany), CHR Hansen Holding A/S (Denmark), D.D. Williamson & Co., Inc. (U.S.), Diana Naturals, Dohler Group (Germany), DowDuPont (U.S.), Fiorio Colors S.R.L (Italy), FMC Corporation (U.S.), Food Colour Innovation S.L. (Spain), GNT Group (The Netherlands), IFC Solutions. (U.S.), Kalsec Inc. (U.S.), Kolorjet Chemicals Pvt.Ltd. (India), Koninklijke DSM N.V. (The Netherlands), Lycored Ltd. (Israel), Naturex S.A. (France), Phinix International (India), San-Ei Gen F.F.I., Inc. (Japan), Sensient Technologies Corporation (U.S.), Vinayak Ingredients India Pvt. Ltd. (India) among other notable players.


With leading market players holding significant market share, the market remains highly consolidated. Leading players of the natural color industry, while expanding their distribution network, continue to make heavy investments in research and development. The need for a wide range of products and a broader network creates high entry barriers to the market for natural colors of foods, making consolidating market positions difficult for local and regional players.

Food coloring is still playing a major role in the market, with companies still attracting consumers with attractive food colors. Various surveys show that food coloring remains of vital importance on the F&B market as consumers continue to base their assessment on food coloring. While the use of synthetic colors continues, recent research on the association of various health issues with synthetic food color consumption has brought the safety of the ingredients into question by consumers.



The key market trend in the current natural food colors is increased stability and function. The main aim of the manufacturers is also to create natural, powdered food colors especially in yellow, orange and brown. This is due to the use for ready-to-eat meals, sauces, and noodles and of a large amount of seasoning consumption. Herstellers are looking forward to develop a new natural food color source at a low cost. They are concentrating on developing new drying methods and materials that enable powder stability innovation at a competitive cost. As a result, food manufacturers are investing in clean labels, thereby bringing in newer products or revising existing product portfolios through the incorporation of clean label food colors. The result is a growing need for a number of products which bear claims such as “natural.”

Increased government aid is expected to boost the growth of the market in Asia Pacific in turn to encourage the adoption of natural food colors in different food and beverage applications. During the forecast period, the demand for natural colors in China and India is expected to increase. The launch of new products with natural ingredients is a key reason for this. Carmine is the most popular pigment in Asia-Pacific in red colors, while beta carotene and carotenoids are preferable in orange and yellow colors.


The world market for food colors is divided into types, form, applications and geographic areas. It is bifurcated into carmine, curcumin, paprika, turmeric, beet, anthocyanins, caramel, annatto, carotenoids, chlorophyll, spirulina, and others based on the type. The form segments is further bifurcated into liquid, powder, gel, emulsion. The application section is further segmented into bakery & confectionery, beverages, dairy products, frozen products, meat products, and others. According to regions, the market has been analyzed on a country level throughout North America, Europe, Asia-Pacific and Latin America and Middle East & Africa. The maximum development rate on the global market is expected to occur in Asia Pacific due to high demand from economies such as India, South Korea, China, etc.  


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Hydrogen Fuel Cell Vehicle Market Latest Trends, Global Demand, Industry Growth,In-Depth Analysis And Opportunities Till 2026

The global hydrogen fuel cell vehicle (HFCV) market size is expected to reach USD 28.82 billion by 2026 according to a new study by Polaris Market Research. The report “Hydrogen Fuel Cell Vehicle Market Share, Size, Trends, Industry Analysis Report By Technology (Proton Exchange Membrane Fuel Cell, Alkaline Fuel cell, Solid Oxide Fuel Cell); By Vehicle Type (Commercial Vehicle, Passenger Car); By Regions, Segments & Forecast, 2020 – 2026” gives a detailed insight into current market dynamics and provides analysis on future market growth.

In contrast to conventional gasoline, petrol or diesel vehicles, a hydrogen fuel cell incorporates oxygen and hydrogen, which in turn produce energy for the car. There are numerous factors affecting the forward momentum of the market. Developing varied technologies in the automotive industry generates new opportunities for growth. Furthermore, a hydrogen fuel cell vehicle’s enhanced cargo capacity and longer range contribute to its growth. Since hydrogen fuel cell cars can generate their own energy, many eco-conscious clients opt for fuel cell vehicles over domestic electric cars. Growing environmental awareness is expected to increase the global HFCV market during the forecast period. This is because of decreased carbon emissions from HFCVs, unlike conventional vehicles operating on petrol, diesel or petrol.


Many government organizations and concerned authorities and industry partners have initiated plans to such advanced infrastructure networks to spur the market at a global level. The leading automakers such as Toyota, Audi, and Honda have developed a range of hydrogen cell-based fuel cars for the global market. Owing to an increase in electric vehicles, there is a large number of such fueling stations being established in the parts of North America, Europe, and Asia-Pacific. In 2017, there were over 330 hydrogen fueling stations operating across the globe, with over 50 each in California, Germany, and Japan. There is around 35 retail hydrogen fueling station being built in California and nearly 15 hydrogen-fueling stations are operating in the UK in 2017. Moreover, the government authorities such as the US Department of Energy (DOE) are investing public funds for the rollout of hydrogen fueling stations, is further augmenting the growth of the global market.


Furthermore, according to the International Energy Agency, Germany has around 23 operating hydrogen fueling stations in 2017. These numbers are to be outnumbered by more than 50 as the country is constructing 25 more such stations, and at the end of 2017 around 60 stations are estimated to be operational. The National Organization Hydrogen and Fuel Cell Technology (NOW) coordinated Germany’s National Innovation Programme (NIP) to establish 50 stations with $134 million. Public and private stakeholders are convened by the Clean Energy Partnership to create this initial network. 
H2Mobility, a consortium of Air Liquide, Daimler, Linde, OMV, Shell, and Total, is planning and constructing this network. The consortium plans to have 100 stations by 2019, with around 10 stations each in Hamburg, Berlin, Rhine-Ruhr, Frankfurt, Stuttgart, and Munich metropolitan areas, and the remaining 40 as connectors and destination stations. This infrastructure backbone supports both light-duty and light commercial fuel cell vehicles, with the additional stations expected to grow with the rising growth of the global market.



Since January 2016, the Research Centre for Gas Innovation (RCGI) has been working to offer technology for obtaining fuel cells in 5 years. The center has the mission to investigate the use of the resource in terms of increasing their partnership in the Brazilian energy matrix. It is also making a contribution to the mitigation of greenhouse gas emissions. They have also emphasized that Brazil along with the US, Japan, and Germany, advanced programs to produce hydrogen-operated buses. Hence, this project will support the development of such vehicles.


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Excavator Market Size, Trends Analysis, Region, Demands And Forecasts Report 2020-2026

The global excavator market size is expected to reach USD 62.2 billion by 2026 according to a new study by Polaris Market Research. Report gives a detailed insight into current market dynamics and provides analysis on future market growth.

Excavators are building equipment which is equipped with a dipper, boom or bucket fixed on a mobile platform that is based on application requirements. The excavators assist in the execution of excavation, landscaping, picking and placing, handling and construction of materials, demolition and other activities. The excavators also help to complete labor-intensive tasks or earlier work performed using heavy building equipment.


Some of the key players in the market include John Deere, Komatsu, Liebherr, KUBOTA Corporation, CNH Industrial N.V., Doosan Bobcat Inc, Caterpillar, Hitachi, Kato Works Co., Ltd. and Kobelco among others.


Advances in technology have also resulted in superior equipment for excavators with high power output and performance capabilities, offering effective alternative solutions for heavy construction equipment. As a result, excavators are available for various applications in various power output capacities.

One of the major indicators driving the growth of the market for excavators during the forecast period is the growing construction industry. It is also expected that the versatile advantages of excavators, such as durability, compact size, superior maneuverability, availability of different power output ranges and others, will fuel the demand for excavators over the forecast period. In order to optimize the building process in the construction industry, rapid infrastructural development and technological advancement lead to the incorporation of advanced machinery and equipment.


In addition, heavy construction equipment is also projected to boost the growth of the market for excavators over the demand for efficient, robust, and mobile construction equipment, providing lucrative opportunities for market players. However, it is expected that the lack of skilled operators and technicians will hamper the growth of the market for excavators in emerging economies.

Asia Pacific dominates the global market, driven by the growth in China’s urbanization and growth in infrastructure development. Population growth is expected to boost the construction market in countries like India and China. The construction of roads and infrastructure in developing countries such as China and India are expected to increase rapidly. This is estimated to boost the market for excavators. Also, North America is a favorable market for this industry. Another positive outlook in Europe is that excavators are used on a large scale in developed countries such as Germany, France and the United Kingdom.

Saudi Arabia and Israel’s market is also growing rapidly. This is expected to increase the Middle East & Africa market share. The region is a leading oil and gas market and thus offers huge opportunities for the MEA region. Due to the implementation of new emission standards, companies are trying to introduce environment friendly machines and are constantly trying to develop enhanced products which would meet the international regulations and norms. This is one of the major concern for the overall industry.


Increasing investment in the residential building segment followed by development of transport infrastructure is projected to increase growth prospects in this market. This will result in a steady rate of market growth and increase the sales of manufacturers of excavators. 

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