Global Light Fidelity (Li-Fi) Market Size To Exceed USD 101 Billion By 2024

Hexa Research

The global Light Fidelity (Li-Fi) Market was valued at around USD 455 million in 2015. It is expected to grow beyond USD 101 billion during the forecast period (2016- 2024).

Light fidelity is a visible light communication (VLC) system. This system runs high speed wireless communications. Li-Fi uses common household LED light bulbs to transfer data boosting speed up to 224 gb (gigabits) per second.

Increasing need for eco-friendly technology is expected to drive the market. Moreover, longer life, low power consumption, and high illumination are expected to augment market growth in the coming years. Government promotion for these lights is expected to boost market growth till 2024. The light fidelity market is split into components, application, and geographies.

Li-Fi components include LED, photo-detector, and microcontroller. LED based light-fidelity devices held over 40% of the market share in 2015.

These LED lights can be controlled to switch on and off to generate a digital string of binary numbers. Moreover, it can also change colors to red, green, and blue.

Photo-detectors, accounted for over 30% of market revenue in 2015. Microcontroller segment was valued at more than USD 95 million that year.

On the basis of application, the industry is split into automotive & transportation, consumer electronics, defense & security and aviation, healthcare, and retail. Retail sector held market shares surpassing 30% in 2015.

The automotive & transport segment is anticipated to witness a CAGR of over 80%. This segment is expected to grow at the fastest rate. Technological advancements and communication machinery of cars is expected to increase adoption of these lights in traffic and car lights.

Geographies comprise of North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa (MEA). North America light fidelity industry accounted for more than 40% of the global market share, in 2015. This region is expected to grow at a CAGR of around 76% during the forecast period.

Europe has established the infrastructure of Li-Fi communication systems and is expected to show positional growth in the region. This will create a large platform for market growth in the coming years.

The light fidelity market in Asia Pacific was valued at over USD 95 million in 2015. It will witness a significant growth of around 30% by 2024. This growth can be attributed to the contribution made by countries like Korea, China, and Japan.

Key market players encompass ByteLight Incorporated, Lightbee Corporation, Ibsentelecom Limited, and PureLifi Limited. The adoption of Li-Fi is at its budding stage and is used in limited niche applications. Therefore, an extensive research & development investment could benefit the players in the long run.

Global Barcode Printers Market Size To Exceed USD 3.8 Billion By 2024

Barcode Printers Market

The global Barcode Printers Market value is projected to grow beyond USD 3.8 billion by 2024. Barcode printers are specialty printers which facilitate the printing tags or barcode labels that are openly printed on or connected to physical objects. They are usually used to tag cartons or retail objects with European Article Numbers (EANs) or Universal Product Codes (UPCs) prior to shipment. They also find usage in printing barcodes on wristbands for individual recognition in hospitals or events.

Key products are industrial printers, desktop printers, and mobile printers. Mobile printers are mainly used by organizations’ sales employees for tickets, printing receipts, and labels, irrespective of the place and name. Desktop printers can be used for printing low to mid-volume labels, wristbands, receipts, and barcode. Industrial printers can also be used for high volume purpose counting order labeling and warehouse labeling. They are intended to function 24/7 in callous environments for mission critical operations.

Several print technologies are accessible in the barcode printers industry, that can be bifurcated into two chief groups, that is, impact and non-impact printing methods. Impact printing consists of drum printers and dot matrix, while non-impact printing involves laser printers, direct thermal, thermal transfer, and inkjet printers. Conversely, dot matrix segment is said to be the inexpensive technique for creating low to medium density on-site barcodes using numerous dots printed in matrix figure to make a sequence of lines and spaces. Inkjet printing finds usage in settings where high production of barcodes is necessary at a quicker pace.

Based on end-users, the market has been sliced into healthcare, shipping, retail, government, manufacturing, retail, and shipping. Barcode printers in healthcare sector are used for issuing wristbands and tags that assist in patient recognition and tracking services, specimen labeling, and point of care (POC) medicine administration. Barcodes, in manufacturing sector are used for inventory labeling used to establish inventory control and allows work-in-progress (WIP) tracking.

North America and EMEA are anticipated to lead the barcode printers market in the coming years owing to improved demand from the U.S. and Western European nations. Key market players in the barcode printers market include Toshiba Tec, Zebra Technologies, Honeywell Scanning & Mobility, Avery Dennison, and SATO Holdings Corporation.

Global Airport Security Market to Reach 13.4 billion by 2024

Airport Security MarketThe worldwide Airport Security Market was valued over USD 8.4 billion in 2014. It is expected to be around USD 13.4 billion by 2024 (2016 to 2024 – forecast period). Increase in air travel should drive the need for well-organized security systems. These systems comprise software for better monitoring, detection, & risk prevention. Terrorism and crimes have encouraged worldwide governments to make airport security stricter and keep the same a higher priority.

Diverse & innovative solutions and technological advances have driven the airport security market. Augmented demand for more effective screening to decrease ‘passenger’ hassles & enhance safety is also anticipated to propel market growth in the near future. New infrastructural developments & airport constructions provide growth prospects to the market.

Governmental mandates have driven innovative safety systems, thus propelling market revenues. Conversely, ‘economic turmoil’ leading to deficiency in funds for new developments & constructions can hinder the market. Also, the up gradation of old airports is likely to hamper market flow. High costs of new technologies may prevent market growth.

Suppliers and distributors execute a pivotal role in procuring small products;   like access controls, CCTV cameras, and hand-held devices. Large-size equipments, such as road-blockers or bollards, x-ray scanners, and detectors are obtained directly from vendors on lease or purchase orders. The airport security market is divided into technologies and geographies.

Technologies include access controls, screening, cyber security, surveillance, perimeter security, and others. Access controls comprise keypads, card readers, vehicle controls, and biometric authentication.

Screening occupied more than 45% shares in 2015. It encompasses full body scanners or metal detectors, human pat-down searches, hand-held detectors, and walk-throughs.

Large passenger volumes have boosted advanced screening systems; like backscatters, X-ray technology, and millimeter wave. Cyber security technology protects critical data and IT infrastructure. These details are crucial for computer reservation & global distribution systems. They are also important for air traffic control information systems.

The said segment would experience the fastest growth till2024. Its growth can be attributed to innovative technologies and novel trends; such as IoT (Internet of Things), cloud storage, and Big Data.

Geographies consist of North America, Latin America, Europe, Asia Pacific, and Middle East & Africa (MEA). North America dominated the market in the recent past. Middle East and Asia Pacific are predicted to contribute global market sales. Regional expansion owes to rising infrastructural developments and passenger volumes.

Threats to the aviation industry from criminals and extremist groups have emphasized the need for improved, well-maintained, and advanced security systems. In late 2013, the ‘International Air Transport Association’ (IATA) and ‘American Concrete Institute’ (ACI) jointly signed a memorandum to develop ‘Smart Security’ or ‘Smart S.’

‘Smart S’ was an initiative focused on enhancing the efficiency, safety, and experience of airport passengers. The global airport security market is consolidated, fragmented, diversified, and competitive. Some of its key players are American Science & Engineering, L-3 Security & Detection, Safran Morpho, and Smiths Detection.

American Science & Engineering generated about 50% of the total incomes in 2014. Collaborations and agreements are the frequent strategies through which competitors try to gain an edge over others.

About Us:
Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

Contact Us:
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Hexa Research
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Email: sales@hexaresearch.com

Global Animal Feed Additives Market To Be Worth USD 21.9 Billon By 2022

animal feed additives market

Global Animal Feed Additives Market size was estimated at USD 16 billion in 2014. Growing meat consumption as a key protein source, especially in Asia Pacific and Latin America is expected to be a key driver for market demand over the forecast period. Increased focus on product innovation, resulting in high R&D spending is expected to provide new growth opportunities to industry participants.

High degree of regulatory intervention in developed markets of North America and Europe, coupled with raw material supply issues are expected to challenge product growth over the next seven years. Asia Pacific and LATAM animal feed additive markets, which are comparatively less regulated, are expected to reach USD 7.2 billion and USD 2 billion by 2022, respectively.

With frequent regulatory updates and increasing R&D spending, the global feed additive industry is constantly evolving. In recent times, there has been a significant increase in mergers, acquisitions and partnerships among market participants, in order to enhance product portfolio, gain access to regional markets and to avail synergetic benefits, As a result, we have witnessed companies increasing their presence across the value chain by integrating and diversifying their product portfolio.

Key report insights suggest:
– Global animal feed additives market was valued at USD 16 billion in 2014 and is expected to reach USD 21.9 billion by 2022, growing at a CAGR of 4% from 2015 to 2022.

– Poultry feed additives dominate the market, with revenue estimated at USD 6.1 billion in 2014 and expected to grow at a CAGR of 4.3% from 2015 to 2022. Aquaculture feed additives market is expected to reach USD 1.29 billion by 2022, with an estimated CAGR of 4.2% over the next seven years.

– Amino acids accounted for over 30% of global demand in 2014, with revenue estimated to reach USD 8 billion by 2022. The demand for feed enzymes and acidifiers is expected to grow at a CAGR of 5.3% and 6.5% from 2015 to 2022, respectively.

– North America and Europe together accounted for over 55% of the global revenue in 2014 and are expected to witness marginal gains over the forecast period, owing to regulatory constraints and raw material issues.

– Asia Pacific animal feed additive market was dominated by India and China, together accounting for around 70% of overall regional revenue in 2014. Brazil dominated the LATAM market similarly, accounting for 80% of total revenue in the same year.

– The global industry is significantly concentrated and displays oligopolistic characteristics. Key companies in the market include integrated players such as DSM, Evonik, and BASF along with specialists such as Danisco, Elanco, Cargill Novozymes, Kemin, Novus etc.

HexaResearch has segmented the animal feed additives market on the basis of product, application and region for this report:

Global Animal Feed Additives, By Product (Revenue, USD Million, 2012 – 2022)
– Antibiotics
– Vitamins
– Vitamin A
– Vitamin E
– Vitamin B
– Vitamin C
– Other Vitamins
– Antioxidants
– Amino Acids
– Lysine
– Methionine
– Threonine
– Tryptophan
– Other Amino Acids
– Feed Enzymes
– Phytase
– Non Starch Polysaccharides & Other
– Feed Acidifiers

Global Animal Feed Additives, By Application (Revenue, USD Million, 2012 – 2022)
– Pork/Swine
– Poultry
– Cattle
– Aquaculture
– Other 

Global Animal Feed Additives, By Region (Revenue, USD Million, 2012 – 2022)
– North America
– U.S.
– Europe
– Germany
– Italy
– UK
– Asia Pacific
– China
– India
– Japan
– Middle East & Africa (MEA)
– LATAM (Latin America)
– Brazil

About Us:
Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

Contact Us:
Ryan Shaw
Hexa Research
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Email: sales@hexaresearch.com

Global Powder Coating Market Projected to Grow at a CAGR of 7% till 2024

Powder Coating Market

The global Powder Coating Market is expected to grow at a healthy CAGR of over 7 % over the forecast period (from 2016 to 2024). Strong automobile production outlook in Brazil, China, Germany, and Malaysia is anticipated to drive the global market across various applications such as door handles, rims etc. Steady raw materials supply is said to result in a stable price trend during the next few years. The global market is categorized as applications and regions.

The application sector includes architecture, automotive, industrial, consumer goods, and furniture. The consumer goods sector dominated the global market in 2015 occupying over 23 % of the total revenue. This is mainly because coatings provide a supple, consistent finish that resists cracking and/or peeling. In addition to this, the rising demands for domestic appliances such as freezer cabinets, microwave ovens, washing machines etc., are also projected to augment the market growth. The automotive sector is also expected to witness a rapid growth with a CAGR of over 8 % during the estimated years. Shelving systems, outdoor metal furniture, metal cabinets etc. are several other lucrative applications with a revenue forecast of over USD 3 billion by 2024. The advent of Medium Density Fiber Board (MDF) has strengthened the wood furniture application scope over the few years.

Regionally, North America dominated the global powder coating market with revenue of USD 2 billion. However, the region may lose its share as a result of a long-time presence and awareness of liquid coatings intended for the architectural applications in the United States. The European regional market is expected to gain a share of over 890 kilo tons by 2024. The major factor driving the European market is the growing production of automobiles in Hungary, Germany, Romania, United Kingdom, and Austria with the production base of automobile manufacturers such as Chevrolet, Lincoln, Daimler-Chrysler, Dodge, and Mercedes-Benz. The APAC region is also anticipated to witness huge growth on account of rapid growth across various sectors such as consumer goods, infrastructure, and automotive. The Middle East & Africa and Latin America regions are comparatively immature markets; however, they may provide lucrative opportunities for the market players during the next few years.

Some of the major companies in the global powder coating market are PPG Industries; Axalta Coating Systems; and Akzo Nobel N. V.

About Us:
Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

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Global Biocides Market To Be Worth Nearly USD 12,980 Million By 2024

Biocides MarketThe global Biocides Market will witness rising demands from industrial applications such as water treatment, personal care, paints & coatings etc. Dynamic growth of these industries is expected to spur overall market growth during the estimated period. The growing paints & coatings market in emerging economies is expected to boost the market growth.

The halogen biocides sector was the leading product sector of the global biocides market. It accounted for over 25% of the overall revenue in 2015. It is expected to continue being the top product sector during the next few years owing to the easy availability of inexpensive raw materials like chlorine.

This product sector has a number of applications in cooling water towers and water treatment. Organosulfur biocides held about 11% market share in 2015. This product possesses antifungal & antibacterial properties due to which it is widely utilized in healthcare applications.

The water treatment application sector held over 23% of the overall revenue in 2015. The rising need for disposal in water treatment, corrosion, microbial activity, and scaling is projected to positively affect the market demand. The food & beverages application sector was estimated at USD 1.4 billion in 2015. The rising demands for microbial growth control in food items and drinks and the rising preservative usage levels in ready-to-eat (RTE) foods are expected to be key factors driving market growth.

The need for biocides in the personal care application sector will see it growing at a healthy CAGR above 5%. The increasing scope for this application in cosmetics such as liquid soaps, shampoos, etc. is also anticipated to drive market demand.

The North America region accounted for almost 40% revenue share in 2015. Infrastructural developments in the region have resulted in an increased requirement for paints & coatings. Need for paints in residential and commercial applications are expected to spur market demand.

The Asia-Pacific region is expected to witness a significant growth with a CAGR exceeding 6% over the estimated period. India and China biocides markets are also anticipated to experience a considerable growth. The increasing healthcare investments in this region due to technological improvements and inexpensive medical facilities are projected to boost the phenolic product demand in this region.

About Us:
Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

Contact Us:
Ryan Shaw
Hexa Research
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Email: sales@hexaresearch.com

Global Packaging Additive Market Size To Reach USD 1.01 Billion By 2024

Packaging Additive MarketThe global Packaging Additive Market is anticipated to reach USD 1.01 billion by 2024. The increasing demand for the use of additives such as antimicrobial agents, antifog agents, and oxygen scavengers as a result of protecting the packed product such as food, beverages, and pharmaceutical from the external environment is expected to boost the market over the forecast period.

In 2016, Asia Pacific contributed to 28.1% of the overall market in terms of revenue. The market is expected to grow substantially on account of the increasing demand for packed foods and beverages. Moreover, the growth of the pharmaceutical manufacturing sector in the region is expected to augment the growth of the market.

The demand for packaging additives is expected to witness a significant growth on account of the technological development and lower-cost solutions. Moreover, major manufacturing companies are investing heavily in R&D to introduce innovative products and expanding their presence in the global market by increasing their production capacity to meet the required demand.

UV stabilizers were valued at USD 97.8 million in 2016 and are expected to grow on account of its utilization for protecting the packaged material from the external environment such as infrared radiation and ultraviolet radiation from sunlight. Increasing demand for barrier protection solutions is expected to drive growth.

Food packaging dominated the global market in 2016 and projected to grow at a CAGR of 4.4% over the projected period. Additives play a major role in protecting the packed item. In addition, they help in reducing the formation of moisture on the surface which allows a consumer to view the product clearly. Aesthetics play a major role in driving the growth of the market in the application sector.

The pharmaceutical & healthcare segment is anticipated to be the fastest growing application over the forecast period. These additives provide the necessary chemical and physical stability to the packaged product by protecting it from the external environment such as light, oxygen, microorganism and moisture. The increasing demand for these additives due to regulatory pressures and enhanced patient care anticipated to boost the market over the forecast period. The segment is estimated to be worth USD 212.6 million by 2024.

The key players in the global market are Clariant, Adeka Corporation, Amcor, Songwon Industrial Co. Ltd, ALTANA AG, Addivant, Cytec Solvay Group, BASF SE, E.I. Du Pont De Nemours & Company and AkzoNobel.

Hexa Research has segmented the global packaging additive market based on type, product, application and region:

Segmentation by type, 2014 – 2024 (Tons) (USD Million)

  • Antimicrobial agents
  • Antifog agents
  • Antistatic agents
  • Clarifying agent
  • Oxygen Scavengers
  • UV stabilizers
  • Others

Segmentation by product, 2014 – 2024 (Tons) (USD Million)

  • Rigid
  • Flexible
  • Others

Segmentation by application, 2014 – 2024 (Tons) (USD Million)

  • Food
  • Beverages
  • Pharmaceutical & Healthcare
  • Cosmetics & Personal care

Segmentation by region, 2014 – 2024 (Tons) (USD Million)

  • North America
  • U.S.
  • Europe
  • Germany
  • UK
  • Asia Pacific
  • China
  • India
  • Latin America
  • Middle East & Africa

Key players analyzed

  • Clariant
  • Adeka Corporation
  • Amcor
  • Songwon Industrial Co. Ltd
  • ALTANA AG
  • Addivant
  • Cytec Solvay Group
  • BASF SE
  • E.I. Du Pont De Nemours and Company
  • AkzoNobel

About Us:
Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

Contact Us:
Ryan Shaw
Hexa Research
Felton Office Plaza
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Felton, California 95018
United States
Phone: +1-800-489-3075
Email: sales@hexaresearch.com

Global Craniomaxillofacial Devices Market to Grow at a CAGR of 6.7% till 2024

Craniomaxillofacial Devices Market

The Global Craniomaxillofacial Devices Market value is expected to exceed USD 1.71 billion by 2024 growing at an estimated CAGR of over 6.7% from 2016 to 2024. Demand for minimal invasive procedures which can heal rapidly is the primary driving factor of the market. Awareness of these surgeries by ASCFS and ISCFS will facilitate in market growth. Bigger healthcare budget, use of 3D implants in reconstructive surgery, and growing geriatric populace are other aspects favoring the market.

The global market is segmented according to products, materials, applications, and regions. Products include cranial flap fixation, MF (maxillofacial) plate and screw fixation, bone graft substitutes, and CMF distraction. Plate and screw fixation earned over 70% market revenue shares in 2014 due to their varied use in surgeries.

Materials used are metal, bioabsorable, and alloys. Titanium alloys are used to produce cranial plates due to their low weight & non-corrosive property. Polymers such as PMMA (poly methyl methacrylate) and Medpor are used due to their biocompatible nature. Biomaterials such as PDLLA and PPEK are used in bioabsorbable devices.

Neurosurgery & ENT, orthognathic & dental, plastic surgery, and others constitute as market applications. Increasing cases of spinal disorders will bring in revenues from the neurosurgery & ENT segment. Plastic surgery will see growth in the years ahead from developed countries of Canada and U.S.

Regions covered under the market are Latin America, North America, Europe, Asia Pacific, and Middle East & Africa. North America accounted for over 58% market revenue in 2014. Other factors supporting market growth in the region are technological developments, healthcare infrastructure, and high patient awareness.

Europe is in need of technology which can cater to plate and screw fixation, thoracic fixation, CMF bone graft substitutes, and temperomandibular joint (TMJ) replacement. This is expected to net revenues over USD 227 million in 2013. Asia Pacific will exhibit growth due to economic development and improving healthcare infrastructure.

Well-known players of the craniomaxillofacial devices market are Aesculap; Johnson & Johnson (DePuy Synthes); Boston Medical Products Inc.; and Medartis AG. Research and development of products are one of the strategies followed by players. For instance, Aesculap introduced Pro space, a osteoconductive interbody fusion method in 2015.

About Us:
Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

Contact Us:
Ryan Shaw
Hexa Research
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Phone: +1-800-489-3075
Email: sales@hexaresearch.com

Global Automotive ECU Market To Reach USD 53.91 Billion By 2024

automotive electronics control unit market

The global Automotive Electronics Control Unit Market is estimated to report USD 53.91 billion by 2024 from USD 35.1 billion in 2016 expanding at a CAGR of 6.7% from 2016 to 2024. Factors that fuel this industry are widespread deployment of ECUs in electric vehicles and the popularity of infotainment systems. Surging demand for electric vehicles is fuelled by ecological concerns and high focus on energy efficiency of vehicles. Shift of focus towards green technologies propels the demand for driver-assist systems. This reduces the excessive dependency on fossil fuels and also controls CO2 emissions. The growing popularity of electric vehicles is another key factor that will fuel this industry in the forthcoming years.

The preference for sophisticated systems in mid-sized vehicles, such as navigation and high-end communication systems will create opportunities for expansion of this industry. Increasing R&D expenditure aimed at the production of cost-efficient components for various ECUs will fuel market demand. However, owing to complexities in the consolidation of automotive domains, this market is likely to face certain bottlenecks.

The global automotive ECU market is categorized on the basis of applications and geography. Based on applications, the divisions are powertrain, chassis electronics, safety & security, entertainment, and communication & navigation. The communication and navigation segment will expand significantly owing to surging demand for sophisticated in-car features, eco-efficiency, and in-car data storage.

Powertrain will witness strong growth because of changing environmental trends. Expanding at a CAGR of 5.6% during the forecast period 2016-2024, chassis electronics is expected to reach USD 11.62 billion by 2024 from USD 8.03 billion in 2016. Safety system encompasses tire pressure monitoring systems, pre-crash safety systems, anti-theft systems, keyless entry systems, and airbags. It protects consumers and vehicles from risky situations and thefts, respectively.

Ongoing industry trends depict that the communication and navigation segment will expand robustly during the forecast period.

Geographically, the automotive ECU market is categorized into North America, Europe, Asia Pacific, and Rest of the World. Europe is anticipated to be the fastest growing market because of the leading position that it holds in the luxury cars market. Other factors driving the Europe market are demand for navigation systems and popularity of telematics. Exponential growth of the logistics industry further fuels the growth. The North America market will be affected by the sluggish adoption of newer technologies. Owing to the growing popularity of safety systems coupled with the China V standard meant for light-duty vehicles, Asia Pacific will record significant growth.

The prominent companies operating in the global automotive ECU industry are Bosch, Delphi, Continental AG, Denso, and Hitachi Automotive. This industry is characterized by frequent mergers and acquisitions aimed at increasing market share. Companies opt for business ventures mainly for increasing their regional presence and also for broadening their product portfolio.

With an aim towards acquiring a loyal customer base and significant market share, Continental AG focuses on innovation, market intelligence, and superior product quality. Followed closely by Denso and Bosch, this market is led by Continental AG. ConnectedDrive, designed by BMW provides a variety of apps for downloads. This in turn reduces the need for developing hardware and new systems, thereby enhancing the scope of the current infotainment system. It is anticipated that embedded cellular link will create more services for upgrading and connecting the ECU software programs in automobiles.

About Us:
Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

Contact Us:
Ryan Shaw
Hexa Research
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Felton, California 95018
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Phone: +1-800-489-3075
Email: sales@hexaresearch.com

Global Ballast Water Treatment Systems Market To Reach USD 117.55 Billion By 2025

Ballast Water Treatment Systems MarketThe global Ballast Water Treatment Systems (BWTS) Market is expected to reach USD 117.55 billion by 2025, driven by growth in the size of shipping industry trade volume and rising government initiatives in line with the International Maritime Organization (IMO) regulations. Furthermore, the ballast water treatment systems market is expected to be growing as BWTS is effective in regulating unauthorized ocean dumping, oil & chemical spills, and the introduction of aquatic invasive species.

North America dominated the global market in 2016, and the trend is likely to continue over the next few years due to supporting regulations coupled with rising focus on environmental safety conservation. Asia-Pacific and Europe followed suit, with a consolidated contribution of USD 59.48 billion by 2025.

The implementation by IMO for strict water quality standards has set an obligation for ocean freight service providers. Since vessels have not been planned and fortified to treat ballast water, setting up of a ballast water management system is essential to ensure conformity with the standards.

Asia Pacific is expected to witness the fastest growth over the forecast period on account of increase in production and sales of ballast water treatment systems owing to increase in trade of automotive machinery & equipment, cosmetics, food & beverages, building & infrastructure materials, medical & healthcare, and mining equipment. The region has witnessed an increase in ocean freight volumes from various countries such as China, India, and South Korea.

The market is expected to grow on account of increasing demand for ballast water treatment systems in containers, ships, dry bulk carriers, tankers, and general cargos. Container ships dominated the global BWTS market in 2016 and are expected to grow at an above average CAGR of 25.2% over the projected period. Increasing trade activities among various regions on account of lower transportation costs, free trade agreements, and globalization is expected to result in augmenting the demand for container ships.

Companies are actively looking for new ballast water treatment projects alongside investing in R&D to enhance technology. In July 2015, Wärtsilä won the largest retrofit contract for ballast water management systems. This has been one of the major retrofit contracts so far issued for ballast water management system solutions. Other prominent players in the market such as Xylem Inc., Evoqua Water Technologies LLC, Mitsubishi Heavy Industries, and Alfa Laval AB are investing considerably in the ballast water treatment systems market.

Hexa Research has segmented the global ballast water treatment systems (BWTS) market based on operating technology, type, and region:

Segmentation by technology, 2014 – 2025 (USD Million)

  • Physical Disinfection
  • Mechanical Method
  • Chemical Method

Segmentation by type, 2014 – 2025 (USD Million)

  • Container Ships
  • Dry Bulk Carriers
  • Tankers
  • General Cargos

Segmentation by region, 2014 – 2025 (USD Million)

  • North America
  • U.S.
  • Europe
  • UK
  • Germany
  • Asia Pacific
  • China
  • Japan
  • Rest of the World

Key players analyzed:

  • Wärtsilä Corporation
  • Xylem Inc.
  • Evoqua Water Technologies LLC
  • Calgon Carbon Corporation
  • Mitsubishi Heavy Industries
  • Veolia Environnement S.A.
  • UV Technology
  • Alfa Laval AB
  • Headway Technology Co., Ltd.
  • Trojan Marinex

About Us:
Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

Contact Us:
Ryan Shaw
Hexa Research
Felton Office Plaza
6265 Highway 9
Felton, California 95018
United States
Phone: +1-800-489-3075
Email: sales@hexaresearch.com