Expanding Consumer Electronics Sector Driving Motion Sensor Demand

 Organisation Internationale des Constructeurs d'Automobiles (OICA) estimates that 53,598,846 passenger cars and 24,372,388 commercial vehicles were sold across the world in 2020. Furthermore, the International Energy Agency (IEA) states that the global stock of plug-in hybrid electric vehicles (PHEV) (cars) and battery electric vehicles (BEV) (cars) stood at 3,346,713 and 6,850,327 units, respectively, in 2020. The increasing sale of vehicles owing to the improving economic conditions of customers will create a huge requirement for motion sensors, due to their usage in wheel alignment systems, vehicle alarm systems, and airbag systems.

Moreover, the burgeoning demand for smartphones and medical equipment will augment the motion sensor market at a CAGR of 5.1% during the forecast period (2020–2030). According to P&S Intelligence, the market revenue is projected to surge from $4,430.7 million in 2019 to $7,590.8 million by 2030. In recent years, the electronics industry has been focusing on the integration of microelectromechanical system (MEMS)-based motion sensors, such as magnetometers, gyroscopes, and accelerometers, in their products because the MEMS technology aids in balancing the demand–supply gap through the process of microfabrication.

Get More Insights: Motion Sensor Market Revenue Estimation and Growth Forecast Report

In addition to the consumer electronics industry, MEMS motion sensors are gaining traction in the building automation and automobile sectors. As a result, semiconductor companies, such as NXP Semiconductors N.V., Murata Manufacturing Co. Ltd., Panasonic Corporation, Analog Devices Inc., STMicroelectronics N.V., Robert Bosch GmbH, Koninklijke Philips N.V., Schneider Electric SE, TE Connectivity Ltd., Eaton Corporation plc, and Honeywell International Inc., are expanding their product portfolio.

The type segment of the motion sensor market is classified into accelerometer, infrared (IR), gyroscope, ultrasonic, combo sensor, tomographic sensor, and others, such as vibration sensor, temperature sensor, magnetometer, and microwave. Among these, the combo sensor category held the largest market share in 2019 due to the microfabrication of different types of motion sensors into a single device in it, to offer higher accuracy in detecting motion. Combo sensors are integrated into consumer electronics, such as smartphones, where accelerometers, gyroscopes, and magnetometers are incorporated into a single MEMS system.

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Expanding Consumer Electronics Sector Driving Motion Sensor Demand

 Organisation Internationale des Constructeurs d'Automobiles (OICA) estimates that 53,598,846 passenger cars and 24,372,388 commercial vehicles were sold across the world in 2020. Furthermore, the International Energy Agency (IEA) states that the global stock of plug-in hybrid electric vehicles (PHEV) (cars) and battery electric vehicles (BEV) (cars) stood at 3,346,713 and 6,850,327 units, respectively, in 2020. The increasing sale of vehicles owing to the improving economic conditions of customers will create a huge requirement for motion sensors, due to their usage in wheel alignment systems, vehicle alarm systems, and airbag systems.

Moreover, the burgeoning demand for smartphones and medical equipment will augment the motion sensor market at a CAGR of 5.1% during the forecast period (2020–2030). According to P&S Intelligence, the market revenue is projected to surge from $4,430.7 million in 2019 to $7,590.8 million by 2030. In recent years, the electronics industry has been focusing on the integration of microelectromechanical system (MEMS)-based motion sensors, such as magnetometers, gyroscopes, and accelerometers, in their products because the MEMS technology aids in balancing the demand–supply gap through the process of microfabrication.

Get More Insights: Motion Sensor Market Revenue Estimation and Growth Forecast Report

In addition to the consumer electronics industry, MEMS motion sensors are gaining traction in the building automation and automobile sectors. As a result, semiconductor companies, such as NXP Semiconductors N.V., Murata Manufacturing Co. Ltd., Panasonic Corporation, Analog Devices Inc., STMicroelectronics N.V., Robert Bosch GmbH, Koninklijke Philips N.V., Schneider Electric SE, TE Connectivity Ltd., Eaton Corporation plc, and Honeywell International Inc., are expanding their product portfolio.

The type segment of the motion sensor market is classified into accelerometer, infrared (IR), gyroscope, ultrasonic, combo sensor, tomographic sensor, and others, such as vibration sensor, temperature sensor, magnetometer, and microwave. Among these, the combo sensor category held the largest market share in 2019 due to the microfabrication of different types of motion sensors into a single device in it, to offer higher accuracy in detecting motion. Combo sensors are integrated into consumer electronics, such as smartphones, where accelerometers, gyroscopes, and magnetometers are incorporated into a single MEMS system.

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APAC is the Leader of the Goat Milk Product Market

 The size of goat milk products market was $8,672.9 million in the year2021, and is predicted to progress at a 4.8% CAGR from 2021–to 2030 and reach $13,217.2 million. The market is largely driven by an increase in health-aware consumers, subsidies from the government for the farming of goats, and technical advancements. An increasing volume of people around the globe are more aware of health and eager to pay extra for products having health aids. Goat milk has high calcium and protein, making it a brilliant accompaniment for the teeth and bones of children and adults.

Cheese held the major part, of approximately 45% of goat milk products market, in the year 2021. The increase in goat cheese demand of late.  This cheese is a rich source of various healthy fats, like unsaturated fats, triglycerides, and fatty acids are attributed for this. There is also a good, easily palatable protein, offering amino acids are essential for the body of the humans. Furthermore, to help fight irritation and contribute to a hale and hearty gut, there are lower allergic properties in goat cheese.

In 2021, one of the most important networks is Hypermarkets & supermarkets for the distribution of dairy products. Therefore, this had the highest, over 40%, share of goat milk products market. Moreover, these huge retail stores permit vendors to endorse their products, helping in advertising their brands. Also, because of the variety of objects and the ease of customers, these places cater better than small retail outlets to customer needs.

Goats farming has a significant role to play in the economy of the rural areas of most countries. For example, in India around 70 out of 100 landless agrarian workers, and farmers with small areas of land farm goats. Compared to further cattle species, farming of goats offers great profits to small manufacturers. Goats are one of the most capable animals for the production of meat requiring the smallest area. Goats are able to survive in tough weather conditions and in the ones with limited vegetation apart from meat, they provide dung, milk and hide.

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APAC is the Leader of the Goat Milk Product Market

 The size of goat milk products market was $8,672.9 million in the year2021, and is predicted to progress at a 4.8% CAGR from 2021–to 2030 and reach $13,217.2 million. The market is largely driven by an increase in health-aware consumers, subsidies from the government for the farming of goats, and technical advancements. An increasing volume of people around the globe are more aware of health and eager to pay extra for products having health aids. Goat milk has high calcium and protein, making it a brilliant accompaniment for the teeth and bones of children and adults.

Cheese held the major part, of approximately 45% of goat milk products market, in the year 2021. The increase in goat cheese demand of late.  This cheese is a rich source of various healthy fats, like unsaturated fats, triglycerides, and fatty acids are attributed for this. There is also a good, easily palatable protein, offering amino acids are essential for the body of the humans. Furthermore, to help fight irritation and contribute to a hale and hearty gut, there are lower allergic properties in goat cheese.

In 2021, one of the most important networks is Hypermarkets & supermarkets for the distribution of dairy products. Therefore, this had the highest, over 40%, share of goat milk products market. Moreover, these huge retail stores permit vendors to endorse their products, helping in advertising their brands. Also, because of the variety of objects and the ease of customers, these places cater better than small retail outlets to customer needs.

Goats farming has a significant role to play in the economy of the rural areas of most countries. For example, in India around 70 out of 100 landless agrarian workers, and farmers with small areas of land farm goats. Compared to further cattle species, farming of goats offers great profits to small manufacturers. Goats are one of the most capable animals for the production of meat requiring the smallest area. Goats are able to survive in tough weather conditions and in the ones with limited vegetation apart from meat, they provide dung, milk and hide.

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Metering Pump Market to Advance at 3.9% CAGR during 2020–2030

 Factors such as the toughening government regulations on water treatment, expanding chemical industry, and increasing oil and gas production are expected to fuel the metering pump market at a CAGR of 3.9% during the forecast period (2020–2030). According to P&S Intelligence, the market revenue will grow from $4.4 billion in 2019 to $6.8 billion by 2030. In recent years, the soaring demand for energy-efficient metering pumps, to reduce energy wastage, has become a major market trend.

One of the key growth drivers of the market is the increasing implementation of strict water treatment laws in many countries. Water treatment plants use metering pumps to feed chemical additives to the wastewater to remove toxic microorganisms, slurry, and pollutants, thereby improving the water quality. For example, the U.S. government amended its Water Infrastructure Act (AWIA) in 2018 to focus on all water that is theoretically intended for drinking. This act empowers the Environmental Protection Agency (EPA) to lay down minimum requirements to protect drinking water from pollution. 

Additionally, the soaring oil and gas production is also expected to contribute to the metering pump market growth worldwide. Oil and gas companies deploy metering pumps in the extraction of oil and natural gas and the dosing of corrosion inhibitors in midstream processes. For instance, the U.S. Energy Information Administration (EIA) estimates that 4,129,563 barrels of crude oil were produced in the U.S. in 2020. The EIA also states that 31,099,061 cubic feet of natural gas were produced in the country in 2019.

The end user segment of the metering pump market is classified into water treatment, chemical processing, petrochemicals, pulp and paper, pharmaceuticals, oil and gas, food and beverage, and others, such as textiles, construction, mining, and agriculture. Among these, the water treatment category generated the highest revenue in 2019 due to the implementation of stringent government regulations regarding safe drinking water. For instance, the Ontario Ministry of Health and Long-Term Care enforced the Safe Drinking Water and Fluoride Monitoring Protocol in February 2019 to provide direction to health boards on the various components of the Safe Water Program. 

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Metering Pump Market to Advance at 3.9% CAGR during 2020–2030

 Factors such as the toughening government regulations on water treatment, expanding chemical industry, and increasing oil and gas production are expected to fuel the metering pump market at a CAGR of 3.9% during the forecast period (2020–2030). According to P&S Intelligence, the market revenue will grow from $4.4 billion in 2019 to $6.8 billion by 2030. In recent years, the soaring demand for energy-efficient metering pumps, to reduce energy wastage, has become a major market trend.

One of the key growth drivers of the market is the increasing implementation of strict water treatment laws in many countries. Water treatment plants use metering pumps to feed chemical additives to the wastewater to remove toxic microorganisms, slurry, and pollutants, thereby improving the water quality. For example, the U.S. government amended its Water Infrastructure Act (AWIA) in 2018 to focus on all water that is theoretically intended for drinking. This act empowers the Environmental Protection Agency (EPA) to lay down minimum requirements to protect drinking water from pollution. 

Additionally, the soaring oil and gas production is also expected to contribute to the metering pump market growth worldwide. Oil and gas companies deploy metering pumps in the extraction of oil and natural gas and the dosing of corrosion inhibitors in midstream processes. For instance, the U.S. Energy Information Administration (EIA) estimates that 4,129,563 barrels of crude oil were produced in the U.S. in 2020. The EIA also states that 31,099,061 cubic feet of natural gas were produced in the country in 2019.

The end user segment of the metering pump market is classified into water treatment, chemical processing, petrochemicals, pulp and paper, pharmaceuticals, oil and gas, food and beverage, and others, such as textiles, construction, mining, and agriculture. Among these, the water treatment category generated the highest revenue in 2019 due to the implementation of stringent government regulations regarding safe drinking water. For instance, the Ontario Ministry of Health and Long-Term Care enforced the Safe Drinking Water and Fluoride Monitoring Protocol in February 2019 to provide direction to health boards on the various components of the Safe Water Program. 

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Increasing Population Boosting Need for Water-Cooled Heat Pump VRF Systems in Australia and New Zealand

 With an increase in the population in New Zealand and Australia, there is a surge in the demand for commercial and residential buildings. The COVID-19 pandemic had a severe impact on the construction of residential and industrial buildings, but the situation has certainly improved. For instance, the Australian construction industry reported a gross value added of AUD 144 billion in 2021. As these activities are increasing in these countries, the need for VRF systems is also rising.

The revenue of the Australian water-cooled heat pump VRF systems market was $22,137.0 thousand in 2021, and it will rise at an 8.6% CAGR from 2021 to 2030, to reach $46,335.2 thousand by 2030. Furthermore, the New Zealand water-cooled heat pump VRF systems market generated approximately $3,782.8 thousand in 2021, and the size will propel at a CAGR of 6.5% in the same period, to reach $6,637.3 thousand by 2030.

In the years to come, there will be a surge in the demand for these systems in commercial spaces, such as offices. This can be ascribed to the rise in commercial infrastructure development activities, especially in the key financial hubs of the two countries, including Auckland, Wellington, Melbourne, and Sydney. The preference for these systems has a lot to do with the efficiency in meeting altering temperature necessities in space heating and cooling applications, while correspondingly leading to low operative costs.

A share of over 70% was held by the commercial category in 2021 in the Australia and New Zealand water-cooled heat pump VRF systems market. As the emphasis on the construction of green buildings surges, the need for these systems will rise significantly in the commercial sector. Thus, they are now being preferred over traditional counterparts, such as boilers, in educational institutions, shopping arcades, and hospitals. Additionally, owing to the environmental apprehensions, the demand for energy-efficient HVAC systems has increased rapidly, which would enhance the market growth in both countries.

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Increasing Population Boosting Need for Water-Cooled Heat Pump VRF Systems in Australia and New Zealand

 With an increase in the population in New Zealand and Australia, there is a surge in the demand for commercial and residential buildings. The COVID-19 pandemic had a severe impact on the construction of residential and industrial buildings, but the situation has certainly improved. For instance, the Australian construction industry reported a gross value added of AUD 144 billion in 2021. As these activities are increasing in these countries, the need for VRF systems is also rising.

The revenue of the Australian water-cooled heat pump VRF systems market was $22,137.0 thousand in 2021, and it will rise at an 8.6% CAGR from 2021 to 2030, to reach $46,335.2 thousand by 2030. Furthermore, the New Zealand water-cooled heat pump VRF systems market generated approximately $3,782.8 thousand in 2021, and the size will propel at a CAGR of 6.5% in the same period, to reach $6,637.3 thousand by 2030.

In the years to come, there will be a surge in the demand for these systems in commercial spaces, such as offices. This can be ascribed to the rise in commercial infrastructure development activities, especially in the key financial hubs of the two countries, including Auckland, Wellington, Melbourne, and Sydney. The preference for these systems has a lot to do with the efficiency in meeting altering temperature necessities in space heating and cooling applications, while correspondingly leading to low operative costs.

A share of over 70% was held by the commercial category in 2021 in the Australia and New Zealand water-cooled heat pump VRF systems market. As the emphasis on the construction of green buildings surges, the need for these systems will rise significantly in the commercial sector. Thus, they are now being preferred over traditional counterparts, such as boilers, in educational institutions, shopping arcades, and hospitals. Additionally, owing to the environmental apprehensions, the demand for energy-efficient HVAC systems has increased rapidly, which would enhance the market growth in both countries.

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Why Will APAC Rule the IoT Microcontroller Market in the Forecast Period?

 The major drivers of the global IoT microcontroller market include the surging requirement for IoT in several sectors, increasing preferences for automation, and technological advances. In 2021, the market stood at $4,836.9 million and it is predicted to reach $13,898.0 million by 2030. It is projected to advance at a CAGR of 12.4% from 2021 to 2030. This can be due to the surging need for connected products, including gaming consoles, security systems, smartphones, televisions, household appliances, and tablets. 

The technological advances will pave the way to generate higher revenue in the IoT microcontroller market in the forecast period. Recognizable alterations have taken place in hospitals and clinics because of data analytics methods, wireless devices, and developments undertaken in computer-embedded technologies. Furthermore, by enabling the inspection of huge amounts of very complicated medical information, clinical research is being transformed by IoT technologies. Additionally, there is an increase in the geriatric population, which leads to a higher prevalence of chronic diseases. This drives the requirement for IoT-based patient monitoring devices.

Browse detailed report - IoT microcontroller market Analysis and Demand Forecast Report

During the outbreak of COVID-19, lockdowns were imposed across the world. Thus, corporations of several sectors followed the work from home culture resulting in a dire need for PCs, mobile phones, wearables, and IoT-enabled smart gadgets. Furthermore, all of this went in harmony with increasing collective awareness about wellbeing, fitness, and health. Also, health parameters, including the heart rate and oxygen levels, are easily monitored and tracked by wearables. This exerted a push on the demand for wearables. 

Within the product segment, the global IoT microcontroller market will be dominated by the 32-bit microcontroller category in the forecast period, accounting for the highest CAGR, of around 12%. This can be credited to the variant’s better functional abilities, extending assistance to small implanted medical devices, Industrial 4.0 processes, and the latest IoT applications. Moreover, this type of microcontroller is witnessing extensive use in industrial automation on account of its higher processing power, better performance, enhanced efficiency, user-friendly features, and economic aspects over other microcontrollers. Additionally, it can send real-time sensor information to an IP network.

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Why Will APAC Rule the IoT Microcontroller Market in the Forecast Period?

 The major drivers of the global IoT microcontroller market include the surging requirement for IoT in several sectors, increasing preferences for automation, and technological advances. In 2021, the market stood at $4,836.9 million and it is predicted to reach $13,898.0 million by 2030. It is projected to advance at a CAGR of 12.4% from 2021 to 2030. This can be due to the surging need for connected products, including gaming consoles, security systems, smartphones, televisions, household appliances, and tablets. 

The technological advances will pave the way to generate higher revenue in the IoT microcontroller market in the forecast period. Recognizable alterations have taken place in hospitals and clinics because of data analytics methods, wireless devices, and developments undertaken in computer-embedded technologies. Furthermore, by enabling the inspection of huge amounts of very complicated medical information, clinical research is being transformed by IoT technologies. Additionally, there is an increase in the geriatric population, which leads to a higher prevalence of chronic diseases. This drives the requirement for IoT-based patient monitoring devices.

Browse detailed report - IoT microcontroller market Analysis and Demand Forecast Report

During the outbreak of COVID-19, lockdowns were imposed across the world. Thus, corporations of several sectors followed the work from home culture resulting in a dire need for PCs, mobile phones, wearables, and IoT-enabled smart gadgets. Furthermore, all of this went in harmony with increasing collective awareness about wellbeing, fitness, and health. Also, health parameters, including the heart rate and oxygen levels, are easily monitored and tracked by wearables. This exerted a push on the demand for wearables. 

Within the product segment, the global IoT microcontroller market will be dominated by the 32-bit microcontroller category in the forecast period, accounting for the highest CAGR, of around 12%. This can be credited to the variant’s better functional abilities, extending assistance to small implanted medical devices, Industrial 4.0 processes, and the latest IoT applications. Moreover, this type of microcontroller is witnessing extensive use in industrial automation on account of its higher processing power, better performance, enhanced efficiency, user-friendly features, and economic aspects over other microcontrollers. Additionally, it can send real-time sensor information to an IP network.

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Mobile Collaborative Robots Demand To Grow On Account of Industrial Automation

 The industrial sector is undergoing rapid digital transformation to counter the increasing complexity of production processes and achieve higher productivity, which is subsequently fueling the demand for industrial automation solutions. Additionally, the surging need for reducing labor costs in the manufacturing sector is also facilitating the adoption of such solutions. Thus, the burgeoning demand for industrial automation solutions will result in the large-scale adoption of mobile collaborative robots (cobots) in the foreseeable future.  

Additionally, the surging use of mobile cobots in the automotive sector will drive the mobile collaborative robots market at a robust CAGR of 26.3% during the forecast period (2020–2030). According to P&S Intelligence, the market revenue stood at $543.3 million in 2019 and it will reach $6.8 billion by 2030. Automotive original equipment manufacturers (OEMs) use mobile cobots for welding, material handling, and assembling applications to offer improved output and standardization in the production process. 

In recent years, there has been a significant surge in the usage of bin-picking mobile cobots in warehouses and factories because they provide high accuracy in placing the products and take less time to operate. Owing to these advantages, they are being preferred by manufacturers across several industries. For example, ActiNav, an autonomous bin-packaging kit developed by Teradyne Inc., is used for machine tending applications. This bin-picking mobile cobot can autonomously and easily locate and pick the parts from bins and place them on a machine. 

The payload segment of the mobile collaborative robots market is categorized into <5 kg, 5–10 kg, and >10 kg. Under this segment, the <5 kg category generated the highest revenue in 2019, as <5 kg payload capacity mobile cobots are ideal for pick and place, assembly, and testing applications. Whereas, the 5–10 kg category is expected to exhibit the fastest growth during the forecast period, owing to the surging use of 5–10 kg payload capacity mobile cobots in the electronics and automotive industries to handle materials within its weight range.

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Mobile Collaborative Robots Demand To Grow On Account of Industrial Automation

 The industrial sector is undergoing rapid digital transformation to counter the increasing complexity of production processes and achieve higher productivity, which is subsequently fueling the demand for industrial automation solutions. Additionally, the surging need for reducing labor costs in the manufacturing sector is also facilitating the adoption of such solutions. Thus, the burgeoning demand for industrial automation solutions will result in the large-scale adoption of mobile collaborative robots (cobots) in the foreseeable future.  

Additionally, the surging use of mobile cobots in the automotive sector will drive the mobile collaborative robots market at a robust CAGR of 26.3% during the forecast period (2020–2030). According to P&S Intelligence, the market revenue stood at $543.3 million in 2019 and it will reach $6.8 billion by 2030. Automotive original equipment manufacturers (OEMs) use mobile cobots for welding, material handling, and assembling applications to offer improved output and standardization in the production process. 

In recent years, there has been a significant surge in the usage of bin-picking mobile cobots in warehouses and factories because they provide high accuracy in placing the products and take less time to operate. Owing to these advantages, they are being preferred by manufacturers across several industries. For example, ActiNav, an autonomous bin-packaging kit developed by Teradyne Inc., is used for machine tending applications. This bin-picking mobile cobot can autonomously and easily locate and pick the parts from bins and place them on a machine. 

The payload segment of the mobile collaborative robots market is categorized into <5 kg, 5–10 kg, and >10 kg. Under this segment, the <5 kg category generated the highest revenue in 2019, as <5 kg payload capacity mobile cobots are ideal for pick and place, assembly, and testing applications. Whereas, the 5–10 kg category is expected to exhibit the fastest growth during the forecast period, owing to the surging use of 5–10 kg payload capacity mobile cobots in the electronics and automotive industries to handle materials within its weight range.

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How Will the Rising Number of Residential and Commercial Projects Boost the New Zealand Ventilation Products Market?

 In 2021, the New Zealand ventilation products market was valued at $113.8 million and is projected to touch $183.2 million in 2030. The market is predicted to grow at a 5.4% CAGR from 2021 to 2030 owing to the growing count of commercial and residential projects, rising inclination toward decentralized ventilation, increasing awareness about the environment and health. By removing odor, these products develop a sustainable atmosphere. Furthermore, as inhalation of harmful pollutants and chemicals can adversely affect health, there will be a surge in the need for such solutions in the forecast period.

The rapid adoption of technological advancements will drive the New Zealand ventilation products market. This can be ascribed to the consistent efforts of producers who have developed ventilation products that provide protection against pollutants, viruses, and bacteria amid the spread of the pandemic. There is a paradigm shift among the companies for an amplified filtration ability. This assists in curbing the accumulation of pollutants and germs in the vicinity. However, this has the disadvantage of causing a high drop in pressure within spaces.  Other technological innovations include active neutralization measures and smart sensing technology.

The energy-efficient ventilation systems will spur the New Zealand ventilation products market growth. In an attempt to meet the global sustainability standards by curbing the level of pollution, there is a strong inclination toward energy-efficient ventilation systems. This has made people more aware of indoor air quality amid high-volume carbon emissions. These products lower the carbon-dioxide concentration and have an enhanced ability for ventilation. This makes it appropriate for a numerous people, thereby reducing the spread of communicable diseases. Moreover, lowering the waste heat emissions would enhance energy efficiency. 

The residential area accounted for more than 80% of the total revenue share and dominated the 2021 New Zealand ventilation products market. This can be credited to surging healthcare concerns, especially after the outbreak of COVID-19. People have become increasingly aware of deteriorating health conditions like the risk of spreading transmittable diseases. Since the accumulation of germs, viruses, and pollutants can be significantly reduced with the help of ventilation products, there will be skyrocketing requirements for these products in residential sector. 

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How Will the Rising Number of Residential and Commercial Projects Boost the New Zealand Ventilation Products Market?

 In 2021, the New Zealand ventilation products market was valued at $113.8 million and is projected to touch $183.2 million in 2030. The market is predicted to grow at a 5.4% CAGR from 2021 to 2030 owing to the growing count of commercial and residential projects, rising inclination toward decentralized ventilation, increasing awareness about the environment and health. By removing odor, these products develop a sustainable atmosphere. Furthermore, as inhalation of harmful pollutants and chemicals can adversely affect health, there will be a surge in the need for such solutions in the forecast period.

The rapid adoption of technological advancements will drive the New Zealand ventilation products market. This can be ascribed to the consistent efforts of producers who have developed ventilation products that provide protection against pollutants, viruses, and bacteria amid the spread of the pandemic. There is a paradigm shift among the companies for an amplified filtration ability. This assists in curbing the accumulation of pollutants and germs in the vicinity. However, this has the disadvantage of causing a high drop in pressure within spaces.  Other technological innovations include active neutralization measures and smart sensing technology.

The energy-efficient ventilation systems will spur the New Zealand ventilation products market growth. In an attempt to meet the global sustainability standards by curbing the level of pollution, there is a strong inclination toward energy-efficient ventilation systems. This has made people more aware of indoor air quality amid high-volume carbon emissions. These products lower the carbon-dioxide concentration and have an enhanced ability for ventilation. This makes it appropriate for a numerous people, thereby reducing the spread of communicable diseases. Moreover, lowering the waste heat emissions would enhance energy efficiency. 

The residential area accounted for more than 80% of the total revenue share and dominated the 2021 New Zealand ventilation products market. This can be credited to surging healthcare concerns, especially after the outbreak of COVID-19. People have become increasingly aware of deteriorating health conditions like the risk of spreading transmittable diseases. Since the accumulation of germs, viruses, and pollutants can be significantly reduced with the help of ventilation products, there will be skyrocketing requirements for these products in residential sector. 

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Technological Innovations to Fuel U.K. E-Cigarette Market Growth

 Product development and technological innovations, requirement for ash-less and smokeless vaping, and focus on health awareness will drive the U.K. e-cigarette market during the forecast period (2019–2024) at a CAGR of 19.6%. At this rate, the market will increase its size from $2.0 billion in 2018 to $6.4 billion by 2024. Currently, the market is observing the trends of the introduction of several flavors and fragrances, investment on research and development (R&D) of vaping technologies, and change in lifestyle preference. 

Technological advancements in vaping products are one of the key factors that will drive the U.K. e-cigarette market growth during the forecast period. Moreover, tobacco manufacturers are also focusing on the development of novel technology to gain an edge over their competitors. Major players in the industry are introducing various innovative products that help in expanding their presence in emerging markets. Furthermore, the launch of advanced e-cigarette products is projected to fuel the market growth in coming years.

Read More: U.K. E-Cigarette Market Analysis and Demand Forecast Report

Additionally, introduction of new flavor and fragrance by vendors will fuel the demand for e-cigarettes in the U.K. during the forecast period. These vendors offer flavors such as bubble gum, menthol, cola, mint, chocolate, and fusion of other substances and flavoring substances that attract customers. Due to this, the country is showing a positive shift toward flavored e-cigarettes. Moreover, increasing investments on R&D to innovate new products is driving the U.K. e-cigarette market growth. 

Moreover, rising awareness regarding harmful effects of tobacco smoking will drive the U.K. e-cigarette market growth in coming years. Due to the surging awareness, the customers are quitting tobacco cigarettes and adopting vape products. Cancer is one of the key diseases caused by tobacco smoking that is affecting a large number of people in the country. Adoption of e-cigarette almost eliminates the risk of cancer and prevents the consumption of toxic chemicals that are present in traditional cigarettes.

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Technological Innovations to Fuel U.K. E-Cigarette Market Growth

 Product development and technological innovations, requirement for ash-less and smokeless vaping, and focus on health awareness will drive the U.K. e-cigarette market during the forecast period (2019–2024) at a CAGR of 19.6%. At this rate, the market will increase its size from $2.0 billion in 2018 to $6.4 billion by 2024. Currently, the market is observing the trends of the introduction of several flavors and fragrances, investment on research and development (R&D) of vaping technologies, and change in lifestyle preference. 

Technological advancements in vaping products are one of the key factors that will drive the U.K. e-cigarette market growth during the forecast period. Moreover, tobacco manufacturers are also focusing on the development of novel technology to gain an edge over their competitors. Major players in the industry are introducing various innovative products that help in expanding their presence in emerging markets. Furthermore, the launch of advanced e-cigarette products is projected to fuel the market growth in coming years.

Read More: U.K. E-Cigarette Market Analysis and Demand Forecast Report

Additionally, introduction of new flavor and fragrance by vendors will fuel the demand for e-cigarettes in the U.K. during the forecast period. These vendors offer flavors such as bubble gum, menthol, cola, mint, chocolate, and fusion of other substances and flavoring substances that attract customers. Due to this, the country is showing a positive shift toward flavored e-cigarettes. Moreover, increasing investments on R&D to innovate new products is driving the U.K. e-cigarette market growth. 

Moreover, rising awareness regarding harmful effects of tobacco smoking will drive the U.K. e-cigarette market growth in coming years. Due to the surging awareness, the customers are quitting tobacco cigarettes and adopting vape products. Cancer is one of the key diseases caused by tobacco smoking that is affecting a large number of people in the country. Adoption of e-cigarette almost eliminates the risk of cancer and prevents the consumption of toxic chemicals that are present in traditional cigarettes.

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What Purpose is served by Temperature Sensors in Food & Beverages Industry?

 The production and sales of automobiles has increased considerably across the globe. The demand for vehicles is particularly increasing from emerging economies, including South Korea, China, and India, as the disposable income of people in these regions is growing at a rapid pace. Because of this increasing production of automobiles, the demand for components and devices integrated in them is rising as well. Temperature sensors are among the devices that are integrated in automobiles. 

These devices are usually used in heating, ventilation, and air conditioning systems of vehicles. A temperature sensor measures the temperature of its environment and converts the collected data into electronic data for monitoring, recording, or signaling temperature changes. According to a report by P&S Intelligence, the global temperature sensor market is predicted to reach a value of $11.1 billion by 2030, increasing from $6.9 billion in 2019, advancing at a 4.4% CAGR during the forecast period (2020–2030). 

Browse detailed report - Temperature Sensor Market Analysis and Demand Forecast Report

Different product types of temperature sensors are thermocouple, temperature IC, resistance temperature detector (RTD), and thermistor, among which, the demand for RTDs has been the highest up till now. These products are stable, highly accurate, linear, and can be customized easily. Apart from this, the demand for thermistors is also projected to rise in the years to come, since they offer a number of advantages. Thermistors have low cost, are easy to use, have high sensitivity, smaller size, and faster response rate. 

Various industries utilize temperature sensors, namely automotive and aerospace, utilities, industrial, petrochemical & oil & gas, food & beverage, consumer electronics, and pharmaceuticals. Out of all these, the demand for temperature sensors has been the highest from the automotive & aerospace industry, owing to strict government regulations mandating the use of these devices in vehicles. The regulations have been implemented to make vehicles more efficient when it comes to fuel consumption, as the surging pollution levels are creating a need for reducing greenhouse gas emissions. 

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What Purpose is served by Temperature Sensors in Food & Beverages Industry?

 The production and sales of automobiles has increased considerably across the globe. The demand for vehicles is particularly increasing from emerging economies, including South Korea, China, and India, as the disposable income of people in these regions is growing at a rapid pace. Because of this increasing production of automobiles, the demand for components and devices integrated in them is rising as well. Temperature sensors are among the devices that are integrated in automobiles. 

These devices are usually used in heating, ventilation, and air conditioning systems of vehicles. A temperature sensor measures the temperature of its environment and converts the collected data into electronic data for monitoring, recording, or signaling temperature changes. According to a report by P&S Intelligence, the global temperature sensor market is predicted to reach a value of $11.1 billion by 2030, increasing from $6.9 billion in 2019, advancing at a 4.4% CAGR during the forecast period (2020–2030). 

Browse detailed report - Temperature Sensor Market Analysis and Demand Forecast Report

Different product types of temperature sensors are thermocouple, temperature IC, resistance temperature detector (RTD), and thermistor, among which, the demand for RTDs has been the highest up till now. These products are stable, highly accurate, linear, and can be customized easily. Apart from this, the demand for thermistors is also projected to rise in the years to come, since they offer a number of advantages. Thermistors have low cost, are easy to use, have high sensitivity, smaller size, and faster response rate. 

Various industries utilize temperature sensors, namely automotive and aerospace, utilities, industrial, petrochemical & oil & gas, food & beverage, consumer electronics, and pharmaceuticals. Out of all these, the demand for temperature sensors has been the highest from the automotive & aerospace industry, owing to strict government regulations mandating the use of these devices in vehicles. The regulations have been implemented to make vehicles more efficient when it comes to fuel consumption, as the surging pollution levels are creating a need for reducing greenhouse gas emissions. 

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Why will Compressor Sales Boom in Asia-Pacific in Coming Years?

 The rapid expansion of the automotive industry, on account of the surging disposable income of people, the burgeoning requirement for electric cars, and the rapid technological advancements and innovations, is one of the major factors responsible for the mushrooming sales of compressors across the world. This is because compressors are heavily used in various applications in the automotive industry such as car painting, tire inflation, engine construction, and air conditioning systems. 

According to various reports, over 2.1 million electric cars were sold across the globe in 2019. Moreover, electric cars accounted for as much as 2.6% of the total car sales around the world in 2019, registering a year-on-year (Y-o-Y) growth of 40% from the previous year. Apart from the growth of the automotive industry, the boom in the heating, ventilation and air conditioning (HVAC) industry is also positively impacting the sales of compressors all over the globe.

Browse detailed report - Compressor Market Analysis and Demand Forecast Report

Because of the rapid construction of commercial and residential buildings, the ballooning popularity of smart homes, and the development of highly energy-efficient systems, the HVAC industry is registering huge expansion across the world. This is subsequently pushing up the demand for compressors, which is, in turn, driving the advancement of the global compressor market. As a result, the market valuation is predicted to grow from $39.9 billion in 2019 to $48.5 billion by 2030.

Furthermore, the market is predicted to progress at a CAGR of 3.1% between 2020 and 2030. Depending on compressor type, the compressor market is divided into positive displacement and dynamic categories. Of these, the positive displacement category recorded higher growth in the market during the last few years and this trend will continue in the forthcoming years as well. This is attributed to the large-scale usage of positive displacement compressors in various small and medium-scale industries around the world. 

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Why will Compressor Sales Boom in Asia-Pacific in Coming Years?

 The rapid expansion of the automotive industry, on account of the surging disposable income of people, the burgeoning requirement for electric cars, and the rapid technological advancements and innovations, is one of the major factors responsible for the mushrooming sales of compressors across the world. This is because compressors are heavily used in various applications in the automotive industry such as car painting, tire inflation, engine construction, and air conditioning systems. 

According to various reports, over 2.1 million electric cars were sold across the globe in 2019. Moreover, electric cars accounted for as much as 2.6% of the total car sales around the world in 2019, registering a year-on-year (Y-o-Y) growth of 40% from the previous year. Apart from the growth of the automotive industry, the boom in the heating, ventilation and air conditioning (HVAC) industry is also positively impacting the sales of compressors all over the globe.

Browse detailed report - Compressor Market Analysis and Demand Forecast Report

Because of the rapid construction of commercial and residential buildings, the ballooning popularity of smart homes, and the development of highly energy-efficient systems, the HVAC industry is registering huge expansion across the world. This is subsequently pushing up the demand for compressors, which is, in turn, driving the advancement of the global compressor market. As a result, the market valuation is predicted to grow from $39.9 billion in 2019 to $48.5 billion by 2030.

Furthermore, the market is predicted to progress at a CAGR of 3.1% between 2020 and 2030. Depending on compressor type, the compressor market is divided into positive displacement and dynamic categories. Of these, the positive displacement category recorded higher growth in the market during the last few years and this trend will continue in the forthcoming years as well. This is attributed to the large-scale usage of positive displacement compressors in various small and medium-scale industries around the world. 

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Why Will Commercial Sector Dominate Australia Ventilation Products Market?

 The Australia ventilation products market revenue is expected to increase from $569.4 million in 2021 to $1,003.9 million in 2030. Moreover, it will propel at a 6.5% CAGR during the forecast period owing to the increasing commercial and residential projects, rising consciousness of the health and ecological effects of contaminated air, and cumulative preference for decentralized ventilation. Further, since the pandemic, people have become more conscious than ever of the harms of breathing contaminated air, especially since COVID-19 is an airborne disease.

The skyrocketing demand for smart buildings will drive the Australian ventilation products market in the coming years. This can be attributed to the rising pollution levels due to the increasing carbon emissions, and surging cognizance of environmental sustainability. A smart building encompasses practices such as greenhouse gas emission reduction, water conservation, energy efficiency, and waste management. Therefore, with the increasing need to comply with government regulations, ventilation systems with smart controls and IoT-based mobile app monitoring are being increasingly installed.

The commercial sector led the Australia Ventilation products market, generating around 70% of the revenue in 2021. The number of hospitals, malls, offices, and other commercial spaces is increasing due to the surging urbanization rate. This impelling the government to develop the infrastructure of the country and drive economic growth. In addition, the evolution of planned retail outlets and economic zones are also advancing the development of the market in the country.

The Australia ventilation products market is also advancing because of the increasing fondness for decentralized systems, majorly because of its advantages over centralized ventilation. A decentralized ventilation system attempts to cope with the requirements of every zone in terms of IAQ. Furthermore, it can attain increased ventilation effectiveness by removing pollutants near the source, in turn, reducing the supply volume of the air essential and the energy necessary to condition and distribute it. Moreover, in such a system, even if one unit malfunctions, the others keep operating.

With an increase in the number of commercial and residential products, the Australia ventilation products market is booming. This can be ascribed to the increasing population, disposable income and increasing purchasing power. For instance, the total construction done in the country rose by around 0.5% in the quarter of June 2021. The value of the work in the residential industry was around $14 billion, while in the non-residential sector, it was about $8 billion. Ventilation has always been important in commercial buildings, as they witness a high footfall.

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Why Will Commercial Sector Dominate Australia Ventilation Products Market?

 The Australia ventilation products market revenue is expected to increase from $569.4 million in 2021 to $1,003.9 million in 2030. Moreover, it will propel at a 6.5% CAGR during the forecast period owing to the increasing commercial and residential projects, rising consciousness of the health and ecological effects of contaminated air, and cumulative preference for decentralized ventilation. Further, since the pandemic, people have become more conscious than ever of the harms of breathing contaminated air, especially since COVID-19 is an airborne disease.

The skyrocketing demand for smart buildings will drive the Australian ventilation products market in the coming years. This can be attributed to the rising pollution levels due to the increasing carbon emissions, and surging cognizance of environmental sustainability. A smart building encompasses practices such as greenhouse gas emission reduction, water conservation, energy efficiency, and waste management. Therefore, with the increasing need to comply with government regulations, ventilation systems with smart controls and IoT-based mobile app monitoring are being increasingly installed.

The commercial sector led the Australia Ventilation products market, generating around 70% of the revenue in 2021. The number of hospitals, malls, offices, and other commercial spaces is increasing due to the surging urbanization rate. This impelling the government to develop the infrastructure of the country and drive economic growth. In addition, the evolution of planned retail outlets and economic zones are also advancing the development of the market in the country.

The Australia ventilation products market is also advancing because of the increasing fondness for decentralized systems, majorly because of its advantages over centralized ventilation. A decentralized ventilation system attempts to cope with the requirements of every zone in terms of IAQ. Furthermore, it can attain increased ventilation effectiveness by removing pollutants near the source, in turn, reducing the supply volume of the air essential and the energy necessary to condition and distribute it. Moreover, in such a system, even if one unit malfunctions, the others keep operating.

With an increase in the number of commercial and residential products, the Australia ventilation products market is booming. This can be ascribed to the increasing population, disposable income and increasing purchasing power. For instance, the total construction done in the country rose by around 0.5% in the quarter of June 2021. The value of the work in the residential industry was around $14 billion, while in the non-residential sector, it was about $8 billion. Ventilation has always been important in commercial buildings, as they witness a high footfall.

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How Will IoT Add to Micro Battery Market Growth?

 The burgeoning demand for wearable devices, escalating usage of compact batteries, and rising adoption of internet of things (IoT) technology in medical devices will fuel the micro battery market growth at 18.4% CAGR during the forecast period (2019–2024). The market stood at $0.418 billion in 2018 and it is projected to reach $1.1 billion by 2024. Further, the increasing adoption of smart meter has become a market trend. It is an electronic device that records electric energy consumption and assists electricity supplier for monitoring and billing by using micro batteries.

One of the key factors facilitating the micro battery market growth is the rising adoption of IoT solutions in medical devices. The healthcare sector is swiftly marching toward high-tech solutions, due to the booming geriatric population and increasing prevalence of chronic ailments. For example, medical devices like cardiac monitoring systems and insulin pumps are now connected with IoT to ensure remote monitoring of the patients. These advancements assist in providing real-time information of the patient’s health. With the advent of IoT, the adoption of micro batteries has significantly surged in the medical industry.

Access Report Summary - Micro Battery Market Segmentation Analysis Report

Moreover, the escalating support from government organizations is expected to boost the market growth. For example, the Energy Efficiency Services Limited (EESL), a joint venture of the Government of India and the Ministry of Power signed two memorandums of understanding (MoU) with South Bihar Power Distribution Company Limited and North Bihar Power Distribution Company Limited for installing smart meters in nearly 130 cities and in rural areas of Bihar. As micro batteries are a vital source of power for smart meters, largescale adoption of these meters will add to their high demand.

Categories under the application segment of the micro battery market include automotive, consumer electronics, wearable devices, medical devices, and others (including smart meters and wireless sensor networks). Among these, the medical devices category held the largest market share in 2018, due to the growing installation of micro batteries in devices such as insulin pumps, glucometers, drug delivery systems, and thermometers. Whereas, the wearable devices category is expected to register the fastest growth throughout the forecast period, owing to the high demand for wearable devices like watches, fitness bands, and headphones.

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How Will IoT Add to Micro Battery Market Growth?

 The burgeoning demand for wearable devices, escalating usage of compact batteries, and rising adoption of internet of things (IoT) technology in medical devices will fuel the micro battery market growth at 18.4% CAGR during the forecast period (2019–2024). The market stood at $0.418 billion in 2018 and it is projected to reach $1.1 billion by 2024. Further, the increasing adoption of smart meter has become a market trend. It is an electronic device that records electric energy consumption and assists electricity supplier for monitoring and billing by using micro batteries.

One of the key factors facilitating the micro battery market growth is the rising adoption of IoT solutions in medical devices. The healthcare sector is swiftly marching toward high-tech solutions, due to the booming geriatric population and increasing prevalence of chronic ailments. For example, medical devices like cardiac monitoring systems and insulin pumps are now connected with IoT to ensure remote monitoring of the patients. These advancements assist in providing real-time information of the patient’s health. With the advent of IoT, the adoption of micro batteries has significantly surged in the medical industry.

Access Report Summary - Micro Battery Market Segmentation Analysis Report

Moreover, the escalating support from government organizations is expected to boost the market growth. For example, the Energy Efficiency Services Limited (EESL), a joint venture of the Government of India and the Ministry of Power signed two memorandums of understanding (MoU) with South Bihar Power Distribution Company Limited and North Bihar Power Distribution Company Limited for installing smart meters in nearly 130 cities and in rural areas of Bihar. As micro batteries are a vital source of power for smart meters, largescale adoption of these meters will add to their high demand.

Categories under the application segment of the micro battery market include automotive, consumer electronics, wearable devices, medical devices, and others (including smart meters and wireless sensor networks). Among these, the medical devices category held the largest market share in 2018, due to the growing installation of micro batteries in devices such as insulin pumps, glucometers, drug delivery systems, and thermometers. Whereas, the wearable devices category is expected to register the fastest growth throughout the forecast period, owing to the high demand for wearable devices like watches, fitness bands, and headphones.

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