The global stepper motor market is expected to grow from an estimated $1,654.1 million in 2015 to $2,172.5 million in 2022, growing at a CAGR of 3.8%. Among the various types of stepper motors, the rotary stepper motor segment accounted for about 73% share of the global stepper motor market in 2015.
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The advancement in stepper motor technology, in addition with increasing demand of waterproof stepper motors is expected to boost the demand of stepper motor system during the forecast period. During the recent years, the demand for miniature stepper motor has increased, owing to its growing penetration in electronic products with size constrain.
Permanent magnet (PM) stepper motors are the preferred selection for high power applications, such as navy propulsion and industrial drive applications. The technical advancements, such as design of variable flux PM stepper motor facilitate high power applications with high accuracy and control. The demand for hybrid stepper motors is expected to grow in the medical equipment industry. Hybrid stepper motors are used in array of medical equipment, including surgical hand tools, ventilation equipment, and medical pumps.
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The increased accuracy of closed loop stepper motor, owing to the recent technical development, has increased the cross penetration of stepper motor system in the applications, where servo motors were dominant earlier, such as belt drive. The significant reduction in noise and heat generation under high speed operation is laying new growth opportunities for the stepper motor market at high speed, and high voltage applications in industrial automation.
The growth of the stepper motor market has been effected from a weak semiconductor market in Japan, slow economic growth in Europe, along with overproduction in China. In terms of revenue, the market is expected to witness slower growth during the forecast period, compared to the current growth of the stepper motor market.
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Some of the major companies operating in the global stepper motor market include Nippon Pulse Motor Co. Ltd., Schneider Electric SE., ABB Ltd., Applied Motion Products Inc., Delta Electronics Inc., SANYO DENKI CO. LTD., National Instruments Corporation, Nidec Corporation, Oriental Motor Co. Ltd., FAULHABER Group, and Lin Engineering LLC.
The global digital pen market is expected to grow at a CAGR of 17.6% during 2016 – 2022. The increasing number of mergers and acquisitions, deployment of digital learning, and increasing use of digital pen in art and designing works are some of the major trends observed in the global market.
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The global digital pen market is driven by factors, such as growing disposable income, and increasing use of digital pen to eliminate paper work. Moreover, the technological advancement and advanced features of digital pens, and their increasing use for reducing deception are also driving the growth of the global market. The massive unexplored market across the globe is the key factor offering immense growth opportunities for the global digital pen market.
Digital pen in the study refers to the use of electronic and smart pens in various industries, such as healthcare; banking and finance; IT & communication; and others. The digital pen technology captures electronically handwritten context and transform into digitized forms. The report includes all types of smart and digital pens having electronic conductivity. The report excludes stylus pen, which is used in place of touch and do not have any electronic conductivity.
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Among the various platforms, the android-based digital pen segment held the largest market share in the global market in 2015, and is also expected to witness the fastest CAGR during 2016- 2022. In 2015, North America dominated the global digital pen market; whereas Asia-Pacific is growing at a rapid pace, due to low manufacturing cost, and availability of skilled manpower in the developing countries of the region.
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The major companies operating in the global digital pen market include Apple Inc., Hewlett-Packard Company, Microsoft, Anoto Group AB, Wacom Co. Ltd., Toshiba Corporation, Canon Inc., e-pens Ltd, Moleskine S.p.A, STAEDTLER Mars GmbH & Co.KG, Hanvon Technology Co.Ltd and Neo LAB, Convergence.
The global 3D printing market is expected to reach $31,863.7 million by 2023. 3D printing refers to additive manufacturing, which follows the process of adding material in consecutive patterns to build the desired shape. 3D printing technology helps industries in various aspects, such as in product development, efficiency increment, supply chain improvement and others. Due to these advantages, 3D printing technology is widely being accepted in several industries, including aerospace and defense, healthcare, automotive, gems and jewelry, and others.
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The market for 3D Printing is expected to register the highest growth in Asia-Pacific, during the forecast period. 3D Printing is widely being adopted in the emerging nations of Asia-Pacific, such as India, China and Japan.
Metal based 3D printing has been the largest revenue contributor to the global market; however, the market for polymer based 3D printing is expected to register the fastest growth during the forecast period. Metal based 3D printing helps in serial production, especially in industries, such as aerospace and defense, and automotive, where products mainly contain metal components. Moreover, the demand for other 3D printing materials, including ceramics, bio-compatible material and wax, is also expected to rise in the global 3D printing market. Several industries, including food and culinary, textile and building automation, are expected to generate demand for these materials based 3D printing. Among all industries, aerospace and defense is expected to the largest user of 3D printing.
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Geographically, North America has been the largest market for 3D printing. 3D printing is widely being used in aerospace and defense and healthcare industries. The U.S. leads the aerospace and defense and healthcare industries across the globe, which is the major factor supporting the growth of the 3D printing market in North America. Additionally, uninterrupted technological advancements and government initiatives in the region are likely to spur the growth of the North American 3D printing market.
The market is expected to register the highest growth in Asia-Pacific, during the forecast period. Government initiatives, and investment in research and development to innovate new methods and applications of 3D printing are the major factors supporting the growth of the 3D printing market in Asia-Pacific.
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Some of the major companies operating in the 3D printing market include 3D Systems Corporation, Stratasys Ltd., ExOne, voxeljet AG, Arcam AB, SLM Solutions GmbH, EOS GmbH, Envision TEC GmbH, Materialise NV, Concept Laser Gmbh, Autodesk, Inc. and Koninklijke DSM N.V..
The global commercial refrigeration equipment market is projected to reach $55,688.6 million by 2022, growing at a CAGR of 6.1% forecast to 2022. the rapid urbanization along with the expansion of supermarkets, hypermarkets, and food retail chains in the developing countries, such as India, China, and Brazil, is expected to increase the demand of commercial refrigeration equipment during the forecast period.
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The market in Europe is heading towards maturity; however, the short product life cycle of the refrigeration equipment in developed regions along with the increasing floor area of hypermarkets and supermarkets and restaurants chains, the market for commercial refrigeration equipment is expected to witness considerable growth in the coming years.
The commercial refrigeration equipment market is highly fragmented and most often, the end-users need custom based design specifications, to fulfill their requirement. Major manufacturers of commercial refrigeration equipment sell their product as package solutions directly to bulk buyers, such as supermarket and hypermarket retailers. This consists of about 65% to 75% of the commercial refrigeration equipment market. Approximately 20% to 25% of the commercial refrigeration equipment market is covered through independent wholesalers, and remaining 5% to 10% is distributed through the food service equipment providers, such as catering equipment distributers.
The study reveals that among the various equipment types, walk-in coolers has been leading the commercial refrigeration equipment revenues. The ice-making machinery is expected to be register highest growth among all equipment types during the forecast period, owing to the expansion of restaurant chains in urban and semi-urban areas of developing countries. Among the various applications of commercial refrigeration, food service continues to be the largest segment. Supermarkets leads the commercial refrigeration end-user revenues, owing to its large capacity and requirement for intensive cooling.
Geographically, Asia-Pacific has been the largest as well as fastest growing commercial refrigeration equipment market. Unlike its western countries, the HFCs refrigerant regulation is not so stiff in developing countries of Asia-Pacific. In VI BRICS summit of 2014, all the five members agreed over India’s proposal of not accepting the Montreal Protocol for HFCs, unless other cost-effective alternatives technologies are provided by the developed countries to them. Until that, the HFCs regulation would be regulated with existing Kyoto Protocol. However, the effort to reduce the dependency on HFCs is in process in China.
U.S. remains the major market among the countries, globally, whereas the market in China is expected to grow at highest rate during the forecast period. The capital investment in the U.S. market has improved after the economic slowdown. The increased purchasing power of the consumers has also boosted the foodservice industry and restaurants in recent years. Technical improvements, such as use of proximity sensors, LED lighting systems, and increased adoption of enclosed type refrigeration units, is expected to accelerate the demand for new commercial refrigeration equipment, over the existing units in the U.S. market.
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The major strategic development in the market during the recent years includes product launch, client win, and mergers and acquisitions. Some of the major players in the market include United Technologies Corporation, Johnson Controls, Daikin Industries, Dover Corporation, Hussmann Corporation, AB Electrolux, Frigoglass S.A.I.C., AHT Cooling Systems GmbH, Ali Group S.p.A., and Illinois Tool Works Inc.
Asia-Pacific is likely to rule image sensors market outperforming the incomes of North America in the forecast period. The worldwide image sensors market is driven by the expanding utilization of image sensors in biometric applications. This market is likely to witness huge development in mobile phone application amid the gauge time frame, affected to a great extent by expanding market of smartphone, smart wearable devices and handheld personal computers.
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Consistent advancements and upgrades in CMOS imaging technology design and creation had defeated numerous customary traditional practical execution issues for the designers. CMOS imaging technology designers are conveying items with execution that is really convincing for machine vision applications. With the advancement in pixel structures, (for example, global shutter pixels), the trade-off between image and speed quality of CMOS image sensors has been limited, which was a major issue in fast applications previously. With these ceaseless advancements, CMOS imaging innovation and its use has expanded over CCD innovation in the machine vision industry.
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The image sensors market is encountering a steady development, driven by the ascent in trade of camera empowered mobile phones. Mobile software patterns and increment in service growth connectivity have produced huge interest for camera empowered mobile phones. The migration from second generation to third and fourth generation technologies in the rising markets, for example, China, along with raising blend of low-end smart phones versus feature phones, is required to enhance the image sensor industry development in coming years.
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Some of the key players operating in the image sensors market are Sony Corporation, Himax Imaging Inc., Galaxycore Inc., SK Hynix Inc, STMicroelectronics N.V, Omnivision Technologies Inc., Samsung Semiconductor, Inc., ON Semiconductor Corporation., Toshiba Corporation, and Canon Inc.
The global automotive MEMS sensor market was valued at $2,600.5 million in 2014, and it is expected to grow at a CAGR of 6.0%, during the period 2015 – 2020. The government regulation towards passenger safety and environment has become more stringent in recent years, and therefore automotive manufacturers are forced to implement latest and advanced sensor based automotive safety features, such as Electronic stability control (ESC), Tire Pressure Monitoring Systems (TPMS), Advanced Driver Assistance Systems, (ADAS), Anti-lock braking system (ABS), and others.
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The development in the field of vehicle to infrastructure (V2I) and vehicle to vehicle communication (V2C) is providing new market opportunity for the low cost wireless MEMS sensors used in the communication and information technology. The limited foundry outsourcing of the MEMS sensor is one major road block for the low cost design, precise size, and mass production of the automotive MEMS sensor.
The automobile companies are investing heavily for the development of MEMS based energy harvester in automobiles, especially through the tire pressure monitoring systems (TPMS). Most of the TPMS systems available in the market are powered by battery with short life and hence, the energy harvesting can increase the product life cycle of the TPMS. The advancement in the IC fabrication technology has facilitated cost effective fabrication process of automotive MEMS. The modern IC fabrication technology provides monolithic integration of micro electro-mechanical structure, with signal processing, controlling and driving electronics.
Based on application, the automotive infotainment market is expected to witness the fastest growth (CAGR of 9.2%), during the forecast period. Among various type of automotive MEMS sensor, the pressure sensor led the automotive MEMS sensor market in 2014, with the market size of $ 763.1 million. The MEMS design in terms of different type of MEMS integration and application in automotive is changing continuously with the advent of advanced driver assistance systems (ADAS); connected car such as telematics, infotainment, and mobile based apps; safe car such as autonomous vehicles and V2X; and secure car such as automotive cyber security.
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The key companies operating in the global automotive MEMS sensor market include ST Microelectronics N.V., Robert Bosch GmbH, Analog Devices Inc., Sensata Technologies Inc., Panasonic Corporation, Infineon Technologies AG, and Freescale Semiconductors Ltd.
The global smart light fixture and control market is expected to increase from $22,110.0 million in 2014 to $59,188.1 million in 2020, with the CAGR of 17.9% during 2015 – 2020. The global smart light fixture and control market is mainly driven by continuously declining average selling price (ASP) of LED bulbs. LEDs have become much cheaper than any other traditional lighting currently in use.
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The key drivers for reducing LED lighting costs are improving the brightness of light generated, in terms of the power consumed (measured in watt) and reducing production costs, per LED product. As the ASPs have been declining, the LED bulb penetration has been gradually increasing, which is further accelerating the growth of the smart light fixture and control market.
Asia-Pacific leads the global smart light fixture and control market in 2014, and is expected to maintain its dominance in the forecast period. The Asia-Pacific smart light fixture and control market is expected to grow, with the fastest rate in the forecast period. The dominance of Asia-Pacific smart light fixture and control market over other regions is due to the heavy demand for new construction, strong economic growth, which is mainly driven by China, and increasing affordability of LED lighting in the region.
A smart home is equipped with special connected platform, enabling its residents to control and program an array of automated home electronic devices, with the help of a remote. Segments such as energy management system, and security and access control systems are driving the smart homes market. The market had already progressed well in the developed countries, and it is expected to grow in the developing nations, during the forecast period due to the regulatory initiatives from various governments, and increased consumer interest in reducing the energy consumption.
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The major companies operating in the global smart light fixture and control market include Acuity Brands, Inc., Lutron Electronics Co. Inc., NXP Semiconductors, Control4 Corporation, ams AG, OSRAM Light AG, Zumtobel Group AG, Koninklijke Philips N.V., Leviton Manufacturing Co. Inc., and CommScope Holding Company Inc.
The global cold chain market is expected to grow at a CAGR of 12.1% during 2016-2022. Among the various applications, the fish, meat & seafood segment accounted for largest share in the global cold chain market. The dairy & frozen desserts application segment is expected to witness the fastest growth during the forecast period.
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The global cold chain market is expected to witness a lucrative growth during the next six years. The global refrigerated warehouse capacity has increased by 28% in 2015, as compared to the total refrigerated warehouse capacity in 2012. India (139 million cubic meters) surpassed the cold chain capacity of the U.S. (119 million cubic meters) in 2014, and became the largest cold chain market by capacity. China (82 million cubic meters) was the third largest cold chain market by capacity, in 2014.
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The markets as well as the upstream and downstream cold chain management in these regions are mostly unorganized. The food and beverages industry in the developing market suffer largely by the fragmented supply chains, low level of value addition, low economies of scale, and insufficiency of marketing infrastructure. This is hindering the full flooded growth of the cold chain market in developing countries.
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Some of the major companies operating in the global cold chain market include, Americold Logistics LLC, Burris Logistics, Nichirei Logistics Group Inc., Agro Merchants Group, Kloosterboer Group B.V., Preferred Freezer Services, Lineage Logistics Holdings LLC, Swire Cold Storage Ltd., Cloverleaf Cold Storage, and Henningsen Cold Storage Company.
The global wearable sensors market is increasing at a steady rate due to advancements in sensor technologies, wireless communication, power supply technologies and others. The global wearable sensors market was valued at $157 million in 2014. With the increase in innovation techniques, the global wearable sensors market is expected to grow at a CAGR of 46.6% during 2015 to 2020, to reach market size of $1,630.3 million by 2020. With increasing personal care and health consciousness, for tracking biometrics such as calories burnt, heart rate and others, the demand for wearable fitness trackers and other wearables are increasing. Rapid expansion of internet of things (IoT) is driving demand of wearable sensors devices in various application areas such as healthcare and fitness, consumer electronics and others. High power usage, privacy and security concerns, and technical difficulties are some of the major hindrance in wearable sensors market.
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The wearable sensors find application in various areas including smart wristwear, smart body-wears, smart foot-wears, smart glasses and other wearable devices. In terms of application, the smart wristwear contributed maximum revenues to the global wearable sensors market in 2014. The end-user industries of the wearable sensors include consumer applications, healthcare applications, enterprise & industrial, and others. The consumer applications accounted for the highest revenue in global wearable sensors market in 2014 and it is expected to witness a CAGR of 47.1% during the period 2015 to 2020.
The North American wearable sensors market holds the largest share in global wearable sensors compared to other regions. It is then followed by Europe and Asia-Pacific. High adoption of smart sensors in wearable is due to the high adoption rate of digital components in consumer electronics, smart textiles, fitness and sports market in North America. Large population and high obesity rate is further propelling the market growth of smart wearable devices in this region.
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The growth of the European wearable sensors market is driven by several factors, such as the technological innovations leading to the introduction of new products, increasing incidences of chronic diseases and surging population of diabetic patients. Consumers of Europe are more likely to use either watches or health monitors on their wrists than gadgets that are built-in their clothes or eyewear. The Asia-Pacific region is estimated to be the fastest growing market for wearable sensors during the forecast period. The growth of wearable sensors market in this region is due to growing healthcare industry, consumer awareness towards health and fitness, coupled with technology and computing in daily life.
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The major companies operating in the wearable sensors market include InvenSense, Inc., NXP Semiconductors, Panasonic Corporation, Robert Bosch GmbH, STMicroelectronics, Texas Instruments Incorporated, KIONIX, INC. (ROHM Co., Ltd.), Measurement Specialties, Inc., Analog Devices, Inc., ZOLL Medical Corporation (Asahi Kasei Corporation), Freescale Semiconductor, Inc., and Infineon Technologies AG.
The global industrial refrigeration systems market is likely to grow from $25.7 billion in 2016, to reach 1.5 folds between 2016 and 2023. The increasing demand for cold chain has been necessitating the need for industrial refrigeration globally.
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Based on our analysis, evaporator unit has been the largest industrial refrigeration systems market globally, accounting for 52.1% of the revenues in 2016. The market for industrial racks is expected to witness fastest growth during the forecast period, compared to other types of industrial refrigeration system. Screw open compressors has been the major technology in IR compressor market, whereas brazed plate continues to be the key technology in the IR heat exchangers market. Industrial racks have been generating higher revenue in the IR industrial racks market. Food & beverage was the largest application for industrial refrigeration systems, however, the market in chemicals & pharmaceuticals is likely to be the fastest growing application area during the forecast period.
In the food & beverage industry, industrial refrigeration is required in processing, storing and delivering of meat & poultry, production and storage of milk products, seafood cooling, and fermentation, and germination of the beverages. As meat and poultry production continue to increase, to meet the growing global demand, refrigeration and temperature control are vital aspects throughout the entire food and beverage delivery process. The dairy being one of the more intricate and diverse sector, it requires refrigeration in the production and storage of wide range of products including milk, cheese and butter. Apart from this, seafood and major fishing ports completely rely on industrial refrigeration to ship their product across globe, without any damage of product loss.
The key drivers for the global industrial refrigeration systems market include increasing adoption of natural refrigerant and improvement in energy efficiency, growing food processing industry in the developing countries and surge in global cold chain capacity.
Asia-Pacific is expected to account for over 50% of the global industrial refrigeration systems market by 2023. The market is also expected to witness highest growth in this region, during the forecast period. The U.S. stands as the largest market globally, whereas the market in India has been growing at the highest pace.
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Some of the major players in the global industrial refrigeration systems market include Johnson Controls GEA Group, Industrial Frigo, Emerson Electric, Bitzer, Danfoss, United Technologies Corporation, Star Refrigeration, Hussmann Corporation, and Dover Corporation.