The global veterinary drugs market is reasonably consolidated, with the top ten companies accounting for more than 70% of the overall market in 2015. Leading companies in the global veterinary drugs market include Merck Animal Health, Elanco Animal Health, Zoetis Inc., Bayer Animal Health, and Merial Animal Health. Fierce competition is the norm in the global veterinary drugs market due to the increasing commercial potential of the market and the lucrative opportunities on offer in developing regions, where specialty medical sectors such as the veterinary drugs market are yet to undergo smooth development and widespread adoption.

Many companies in the global veterinary drugs market are likely to focus on fostering closer relationships with individual customers in the coming years instead of developing a vast consumer base. This has emerged as a successful strategy in the global veterinary drugs market due to the intensifying competition; direct assistance is likely to remain a key tool in the repertoire of successful veterinary drugs market players in the coming years.

According to Transparency Market Research (TMR), the global veterinary drugs market is expected to exhibit a steady 5.1% CAGR from 2016 to 2024. The valuation of the veterinary drugs market is likely to rise from US$17.2 bn to US$26.7 bn over the timeframe.
Livestock Animals Likely to Dominate Demand from Veterinary Drugs Market.

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The global veterinary drugs market is segmented into livestock animals and companion animals in terms of animal type. Of these, livestock animals are likely to remain the dominant consumers in the global veterinary drugs market due to the growing demand for high-quality protein and several other animal products. Rising meat consumption in new regional markets is likely to remain a key driver for the global veterinary drugs market over the 2016-2024 forecast period. Nevertheless, companion animals are also likely to account for a growing share in the global veterinary drugs market due to the rising demand for pet animals among urban consumers. The growing use of advanced pet care products in developing countries is likely to be a key driver for the global veterinary drugs market.

By product type, the global veterinary drugs market is segmented into anti-infective drugs, anti-inflammatory drugs, parasiticides, and others. Anti-infective drugs dominate demand from the global veterinary drugs market and are likely to remain the leading contributor to the global market over the coming years. However, parasiticides are likely to emerge with renewed importance in the global veterinary drugs market and are expected to exhibit a strong 6.1% CAGR from 2016 to 2024.

Growing Animal healthcare Expenditure Likely to Drive Veterinary Drugs Market in North America

Regionally, North America is likely to remain the leading contributor to the global veterinary drugs market. This is mainly due to the widespread presence of veterinary drugs market players in the region, the growing popularity of a variety of companion animals, and the steady demand for a variety of meat and other animal products. The high disposable income of consumers in the region has also allowed for increased expenditure on animal care, which is likely to remain a key driver for the veterinary drugs market in North America. The North America accounted for more than 30% of the global veterinary drugs market in 2015 and is likely to retain a similarly dominant share through the 2016-2024 forecast period.

The rapid entry of new products in the veterinary drugs market has led to a risk of counterfeit products establishing dominant shares in the market. The increasing awareness about the adverse effects of some veterinary drugs on humans has also restricted the global veterinary drugs market in some regions.

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Collagen is mainly of two types. These are type I collagen and type II collagen. Type II collagens are further categorized into hydrolyzed and undenatured collagen, based on the method of production. Hydrolyzed collagen is produced by hydrolysis, which means high heat and chemicals have been employed to process it. However, undenatured type II collagen is made with little or no heating, i.e., very little processing. This undenatured collagen is made from chicken. The global tissue engineered collagen biomaterial market is likely to expand at a significant growth rate during the forecast period due to the increasing demand for collagen for various wound care, and orthopedics products owing to its properties which help to health wounds etc. is expected to drive the market during the forecast period.

The global Tissue Engineered Collagen Biomaterial Market was valued at US$ 2.2 Bn in 2016 and is estimated to reach US$ 5.4 Bn in 2025 at a CAGR of 10.4% from 2017 to 2025.

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The tissue engineered collagen biomaterial market by source type has been segmented as marine, bovine, porcine, chicken, and others. The bovine collagen segment accounted for the largest share of the global bioengineered proteins drugs market in 2016 as the price of bovine collagen is depends on the type of application and the grade types used for that specific application. Medical grade bovine collagen falls under the premium category as compared to other grades of bovine collagen. Also 3D collagen scaffold are synthesized mainly from type I bovine collagen which is driving the growth of the market whereas porcine collagen segment is anticipated to expand at a high CAGR from 2017 to 2025. The major type of collagen yielded from porcine source is type I collagen, which finds applications in wound care. Due to its high biocompatibility with human, the porcine collagen is being also used in myriad clinical field which helps to expand the segment.

The tissue engineered collagen biomaterial market by application has been segmented as wound care, orthopedics, and others. Orthopedics segment is estimated to account for highest share of the global tissue engineered collagen biomaterials market in 2016. Dominance of the segment is attributed to large number of applications such as in bone, tendon, and ligament injuries of collagen in orthopedic segment. Moreover, orthopedics segment forms an integral part of the tissue engineered collagen biomaterials market. According to studies published by the National Osteoporosis Foundation in 2014, around 54 million adults aged above 50 years are affected by low bone mass and osteoporosis in the U.S. This increases usage of collagen as bone substitutes, which in turn drives the market. Wound care segment is followed by orthopedics segment and is anticipated to expand at a significant CAGR from 2017 to 2025. According to the American Burn Association (ABA), around 1 million burn injuries occurs annually in the U.S., in which nearly 4,500 patient dies due to the injuries.

Major players operating in the global tissue engineered collagen biomaterial market includes Advanced Bio Matrix Inc., Collagen Matrix Inc., CollPlant Ltd., Collagen Matrix, Collagen Solutions Plc. Fraunhofer-Gesellschaft, Genoss Co., Ltd., Kyeron B.V., Maxigen Biotech Inc., and Medtronic.

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The frontrunners in the global hip replacement implant market are putting constant efforts for differentiating their product and maintaining price differences to attract large number of consumers. These strategies are being adopted by the majority of players, which is likely to keep the competitive rivalry high in the market, finds Transparency Market Research (TMR) in a new study. Stryker, Johnson & Johnson, Zimmer-Biomet, and Smith & Nephew were the leading players in 2015, accounting for a combined share of 85.2% in the overall market.

“Material safety, distribution network, safety features, and supply capabilities will emerge as areas of special attention for the majority of key players in the near future in order to consolidate their position.The global hip replacement implant market had a valuation of US$6.5 bn in 2015 and is anticipated to reach US$9.1 bn by 2024, expanding at a CAGR of 3.9% between 2016 and 2024. On the basis of product, the total hip replacement implant segment will continue to dominate the market until 2024, accounting for 58.1% of the overall market revenue. The rising prevalence of osteoarthritis and mounting cases of trauma to the hips are supplementing the growth of the segment.

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Geographically, North America was the leading revenue contributor in the global hip replacement implant market. The growth of the region can be attributed to the rapid technological advancements, growing incidence of osteoarthritis, and the presence of advanced healthcare facilities. The region is expected to command a dominant share of 52.7% in the overall market. Asia Pacific, on the other hand, is anticipated to register a healthy CAGR during the forecast period.

The growing number of hip replacement surgeries among the widening base of geriatrics is one of the primary growth stimulants of the global hip replacement implant market. Apart from geriatrics, the expanding pool of obese people is also contributing to the growth of the market. Their excessive weight exerts pressure on the hips and causes degeneration over the time.

The emergence of minimally invasive surgeries and remarkable advancements in the 3D printing technology have helped in achieving accurate results, which in turn has allowed the market in gaining significant traction. “The allocation of increased budgets for the healthcare sector by governments coupled with their rising efforts to bring in hip implant reforms is also stoking the growth of the global hip replacement implant market,” says a TMR analyst. Moreover, the growing awareness and increasing consumer expenditure on healthcare along with the better accessibility are fuelling the adoption of hip replacement implants.

Despite an array of drivers, there are several factors acting as stumbling blocks in the growth of the global hip replacement implant market. The high costs of hip replacement products and surgeries are making it highly unaffordable for patients, especially in developing nations, which is limiting their widespread adoption. The increasing number of product recalls, as the metal in these implants has proved to be less effective or faulty, is impeding the upward climb of the market. Furthermore, the rising stringency in regulations pertaining to the approval of all-metal hip implants is hampering the pace of introduction of new products.

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The global life science microscopy devices market is gaining traction from a number of factors, such as the prosperity of the contract research organization (CRO) market, high applications of microscopes in the field of life sciences, fast growing life science industry, development of new integrated microscopes, and technological advances in the products and technology pertaining to the microscopy segment. On the other hand, the report expected premium pricing of high end microscopes and lower budgets allocation to the life sciences field is hindering the market from attaining its true potential. Nevertheless, the vendors of the global life science microscopy devices market will continue to gain new opportunities from the advent of localization microscopy, which is a new dimension to fluorescence microcopy technique.

A recent study by Transparency Market Research (TMR) has detected that the global market for life science microscopy devices is highly consolidated in nature, with top four companies accounting for 90% of the shares in 2016. While Olympus Corporation emerged as a global leader, the other three prominent players detected by the TMR report in the global life science microscopy were Leica Microsystems, Nikon Corporation, and Carl Zeiss Microscopy GmBH. The TMR report also suggests that despite this consolidated competitive landscape, fierce competition is coming from regional vendors, particularly in Asia Pacific, wherein manufacturers have to reduce their product prices in order to maintain their stronghold.

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As per the estimations provided by the report, the demand in the global life science microscopy devices market will continue to increment at a strong CAGR of 6.5% during the forecast period of 2016 to 2024, reaching a valuation of US$2.0 bn by the end of 2024, significantly up from its evaluated worth of US$1.1 bn in 2015. In the near future, the report anticipates that the top four companies will enjoy their dominance via extensive geographical presence, brand value, diverse product portfolio, and financial might for research and development of next high value technology or product. Some of the other notable players in the global life science microscopy devices market identified by the TMR report are JOEL Ltd., Bruker Corporation, Hitachi High-Technologies Corporation, FEI Company, Cameca SAS, NT-MDT, and Leica Microsystems .

Based on device type, the TMR report segments the global market for life science microscopy devices into electron microscopes, optical microscopes, and scanning probe microscopes. Electron microscopes segment has been sub-segmented into invested, stereo, phase contrast, fluorescence, near field scanning, and confocal scanning. While electron microscopes segment is categorized into transmission electron and scanning electron, the scanning probe microscopes segment has been bifurcated into atomic force and scanning tunneling. Among these, the optical microscopes segment served the maximum demand at 51.9% of the overall market in 2015, and is projected to remain most profitable throughout the forecast period, gaining traction from the growing demand for several types of optical microscopes such as fluorescence and inverted microscopes.

Region-wise, the report gauges the potential of life science microscope devices in North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa, and rates North America are most lucrative region, evaluating its demand at 47.3% of the overall requirement in 2015, and anticipates it to remain most successful regional market for these devices. This high demand from North America is a reflection of the presence of a large number of leading companies in the country of the U.S. and favorable government policies for the research and developed activities pertaining to biotechnology and drug discovery. The report also expects Asia Pacific to emerge as a bankable regional market with several global companies outsourcing their R&D to countries such as Japan, India, and China.

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The global dermatology diagnostic devices and therapeutics market is marked by intense competition, which is likely to remain an unchanging feature of the market in the coming years. Leading players in the global dermatology diagnostic devices and therapeutics market include Michelson Diagnostic Ltd., Strata Skin Sciences, GSK, Galderma, Agfa-Gevaert, AbbVie, and Janssen Biotech. These seven companies collectively accounted for more than 96% of the global dermatology diagnostic devices and therapeutics market in 2015 and are likely to retain dominant shares in the market in the coming years. Expansion of geographical outreach and establishment of widespread distribution networks is likely to be a key competitive tactic for players in the dermatology diagnostic devices and therapeutics market.

The global dermatology diagnostic devices and therapeutics market was valued at more than US$18.5 bn in 2015 and is likely to rise to around US$21 bn by 2024. The dermatology therapeutics market is by far the dominant component of the global dermatology diagnostic devices and therapeutics market and is likely to rise to a valuation of more than US$20 bn by 2024. On the other hand, the dermatology diagnostic devices market is likely to exhibit a robust CAGR of 7.1% between 2016 and 2024 and is expected to rise in valuation from US$595.6 mn to US$1,095.1 mn.

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North America to Remain Leading Contributor to Dermatology Diagnostic Devices and Therapeutics Market

Regionally, North America is likely to dominate the global dermatology diagnostic devices and therapeutics market in the coming years due to the steady presence of a number of major healthcare sector players in the region. North America is expected to account for 46.4% of the global dermatology diagnostic devices and therapeutics market by 2024. The steady support to innovation in the medical sector in North America is also likely to remain a key driver for the North America dermatology diagnostic devices and therapeutics market in the coming years.

Within the dermatology diagnostic devices market, imaging equipment is likely to remain the leading contributor to the global market, with the segment expected to exhibit a strong 7.4% CAGR between 2016 and 2024. On the other hand, the dermatology therapeutics market is dominated by antibacterial therapeutics, as bacterial dermal infections are becoming a common concern around the world and are likely to lead to consistent demand from the global dermatology diagnostic devices and therapeutics market. Antibacterial therapeutics accounted for 28.4% of the global dermatology diagnostic devices and therapeutics market in 2015 and are likely to retain a dominant share through the forecast period.

Rising Air Pollution Likely to Contribute to Rising Prevalence of Dermatological Problems

One of the key drivers for the global dermatology diagnostic devices and therapeutics market is the rising concerns regarding air pollution in developed regions. Rising air pollution has led to a steady increase in the prevalence of dermatological conditions and is likely to play a key role in the development of the dermatology diagnostic devices and therapeutics market in the coming years due to the rapid pace of urbanization and industrialization across the world.

The rising geriatric population is also likely to aid growth of the global dermatology diagnostic devices and therapeutics market in the coming years. Anti-aging products already constitute a key part of the global cosmetics sector and are likely to contribute significantly to the dermatology diagnostic devices and therapeutics market in the coming years.

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About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.

Name: Rohit Bhisey
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The global medical lifting slings market features a highly consolidated vendor landscape in developed countries, which are domicile to the majority of international players. However, the market remains fragmented in developing countries owing to the presence of a large number of local and small-scale enterprises, observes Transparency Market Research (TMR) in a new study. Market participants across the globe are focusing towards the development of customized products that cater to the specific needs of users, which is likely to intensify the competition in the near future.

“There is a high demand for adaptive, cost-effective, and technologically advanced devices that address the diverse mobility requirements of patients. This trend is likely to create ample entry opportunities for new players,” says the author of the report. ArjoHuntleigh Inc., Hill-Rom Holding Inc., Guldmann Inc., Invacare Corporation, Joerns Healthcare LLC, Barrier Free Lifts Inc., Vancare Inc., Silvalea, and MedCare are among the frontrunners in the global medical lifting slings market.

The author recommends companies operating in the market to expand their product and service portfolio in order to consolidate their position. Top of FormBottom of FormThe opportunity in the global medical lifting slings market was pegged at US$391.8 mn in 2015 and is anticipated to rise to US$910.6 mn by 2024, expanding at a CAGR of 9.20% between 2016 and 2024.

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Demand for Medical Lifting Slings to Remain Strong in Hospitals through 2024

On the basis of end users, the hospital segment will continue to lead the market in terms of revenue until 2024. The growth of the segment can be attributed to the increasing prevalence of lifestyle-related medical conditions and growing population of geriatrics. Owing to these factors, the segment will post a CAGR of 8.9% during the review period.

Geographically, Europe was the leading revenue contributor in the market in 2015, commanding a share of 33.09% in the overall market. Favorable government policies play a vital role in the growth of the region. This along with the increased consumer spending on advanced healthcare products is likely to help the region in retaining dominance through 2024.

Stringent Regulations to Encourage Development of Advanced Medical Lifting Slings

Favorable government policies have a pivotal role to play in the development of the global healthcare industry, the benefits of which are extended to its affiliated markets, including the global medical lifting slings market. “Stringent regulations are prompting the leading players to pour hefty funds into the development and designing of advanced medical lifting slings, which is working in favor of the market,” says a TMR analyst. The emerging trend of rental provisions is also providing a significant push to the market. This new trend is fuelled by the soaring demand for home health care set-up and the subsequent need of slings for shorter durations. Moreover, the expanding base of geriatric population, particularly in developed regions, is stoking the growth of the market.

Despite an array of drivers, the dearth of personnel with proper technical expertise is hampering the growth of the global medical lifting slings market. This is further exacerbated by the lack of adequate training provisions. Moreover, the high risk associated with these slings is limiting their widespread adoption. For instance, if lifts are improperly attached with slings, it can prove to be perilous for both patients and care providers.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.

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The US knee implants market is consolidated to a high degree due to the longstanding importance of the knee implants sector to the overall healthcare sector. Johnson & Johnson, Smith & Nephew, Zimmer Biomet Holdings Inc., and Stryker Corp. are the leading players in the US knee implant market and are expected to retain a collective share of more than 85% in the market in the coming years. The predominance of these leading market players is due to their focus on diverse research operations, as consistent product development has been the mantra for success in the US knee implants market and is likely to determine the growth trajectory of the market in the coming years.

According to Transparency Market Research (TMR), the US knee implants market is expected to rise to a valuation of US$7 bn by 2024. The market was valued at US$4.3 bn in 2015 and is expected to exhibit a steady CAGR of 5.3% during the 2016-2024 forecast period.

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Ambulatory Surgery Centers to Exhibit Rising Demand, Hospitals to Remain Dominant

By end use, the US knee implants market is segmented into hospitals, ambulatory surgical centers, and specialized orthopedic clinics. Of these, hospitals dominate the demand from the US knee implants market and are likely to remain the leading end user due to their growing consumer base. Hospitals accounted for close to 45% of the US knee implants market and are likely to retain a similar level of dominance in the coming years. However, the rising sophistication of ambulatory surgical centers in the U.S. is likely to lead to increased demand in the coming years, making ambulatory surgical centers a key end user in the U.S. knee implants market. The rising use of minimally invasive procedures in ambulatory surgical centers is likely to aid their prominence in the U.S. knee implants market.

Regionally, the Midwest is likely to remain the leading consumer in the U.S. knee implants market in the coming years. The growing concentration of ambulatory surgical centers in the Midwest region is likely to remain the key driver for the U.S. knee implant market in the coming years. Other leading regional segments of the U.S. knee implants market include the Pacific region, the Mountain region, the North East, the South Atlantic, and South Central.

Increasing Geriatric Population Likely to Drive U.S. Knee Implants Market

The prime driver for the U.S. knee implants market is the rising volume of the geriatric demographic in the country. The improving healthcare standards in the highly developed region has led to a constant extension in average lifetimes, which has now led to a situation where the geriatric demographic has kept on increasing to unprecedented levels. This has benefited the healthcare sector immensely, as geriatrics are more prone to suffer from a wide variety of health concerns, including joint and bone problems that necessitate the use of implants. The steady development of the healthcare sector is thus likely to have a twofold benefit on the U.S. knee implants market, as rapid technological advancement will lead to the availability of advanced knee implant products, while the improvement in the overall healthcare standards will lead to growth of a vital consumer demographic.

The growing prevalence of obesity in urban centers, due to the rising adoption of unhealthy diets and lifestyles, is also likely to benefit the U.S. knee implants market in the coming years. The urban demographic in the U.S. is thus likely to become a key consumer for the U.S. knee implants market.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.

Name: Rohit Bhisey
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The top five companies in the global oil storage market accounted for a combined share of just over 67% in 2014. These players are Royal Vopak N.V., Kinder Morgan Inc., Oiltanking GmbH, Buckeye Partners L.P., and NuStar Energy L.P. Transparency Market Research has found that the degree of competition in the increasingly capital-intensive oil storage market is extremely high and the threat of new entrants is likely to remain moderate throughout the forecast period.

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Looking to strengthen their foothold in the global oil storage market, an increasing number of companies have been resorting to strategic alliances, partnerships, mergers, acquisitions, and joint ventures. “These strategies have enabled companies to raise funds for the development of new pipelines and storage facilities, the expansion of terminal networks, and the expansion of crude oil storage infrastructure,” the author of the TMR study states.

Kinder Morgan is an excellent example. Currently focused on enhancing terminal and storage infrastructure across North America, the industry giant acquired Hiland Partners in February 2015 for US$3 bn.

Ongoing Expansion of Oil Storage Capacities Driving Growth

“The global supply of crude oil has surpassed its demand and this has resulted in the need for oil storage facilities,” a TMR analyst states. This changing trend in the oil industry has given rise to oil inventories over the years. Companies have been striving to expand storage capacity, especially refineries in Asia Pacific and Europe. In addition to this, the swift rise in road travel has spurred the demand for finished petroleum products, which, in turn, has fueled the need for future storage capacity expansions. This has given the global oil storage market a significant boost. For instance, in 2015, CLH Group invested over US$200 mn to build integrated storage and transportation networks, including thousands of kilometers of storage facilities.

In contrast, TMR has observed that high initial investments and lengthy approval processes required for setting up and expansion oil storage facilities have restricted the growth of the global market.

“However, higher return on investment in the long term is likely to give players in the oil storage market the push they need,” the author of the study predicts.

Opportunities Galore in APAC Oil Storage Market

The global oil storage market is poised to expand at a 4.73% CAGR by volume from 2016 to 2024, reporting a rise from 1,337 mn cubic meters in 2014 to 2,027 mn cubic meters by the end of the forecast period. The Middle East and Africa region is the leading contributor in the global oil storage market with a 30% share in 2014, followed by North America and Europe. “Although Asia Pacific comes in fourth in terms of market share, the region is anticipated to trail the MEA oil storage market in terms of percentage growth from 2016 to 2024,” the analyst predicts.

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By type of reserve, strategic petroleum reserves were the key contributor in 2014, followed by commercial petroleum reserves. By type of product, crude oil led the overall oil storage market in 2014 and will continue this trend through 2024.

This review is based on the findings of a TMR report titled “Oil Storage Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”

Oil Storage Market – Type of Storage Segment Analysis

Open Top Tanks
Fixed Roof Tanks
Floating Roof Tanks
Other Storage Facilities

Oil Storage Market – Product Type Segment Analysis

Crude Oil
Gasoline
Aviation Fuel
Middle Distillates

Oil Storage Market – Reserve Type Segment Analysis

Strategic Petroleum Reserve
Commercial Petroleum Reserve

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector – such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.

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Name: Rohit Bhisey
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ABB Ltd. is the clear leader in an otherwise fragmented traction equipment market. The company accounted for nearly a quarter of the market in 2014 and has a strong presence in the Americas, Europe, and RoW. The global traction equipment market is immensely capital-intensive and technology-driven and Transparency Market Research believes that technological advancements and brand creation are the best options for players to enhance their market share.

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Other players operating in the traction equipment market include Siemens AG, Crompton Greaves Limited, Mitsubishi Electric Corporation, Alstom SA, General Electric Company, Bombardier Inc., American Traction Systems, VEM Group, Toshiba International Corporation, Caterpillar Inc., TTM Rail – Transtech Melbourne Pty Ltd., and Kawasaki Heavy Industries, Ltd.

A number of emerging economies in Asia Pacific present lucrative options for players in the traction equipment market and several companies have been capitalizing on this opportunity in the recent past,” the lead author of the study states.

A case in point would be Alstom SA, which has strengthened its footprint in China’s blossoming railway sector. Under the joint venture Shanghai Alstom Transport Electrical Equipment Co. Ltd, the company has supplied traction equipment not just for the Shanghai metro line but also the Nanjing metro line since 2014.
traction-equipment-market

Development and Expansion of Railway Networks Sole Driving Force

“The global market for traction equipment is entirely dependent on the growth of the railway sector and investments in railways networks globally will impact the demand for traction equipment,” a lead analyst at TMR states. The surge in investments, the development and expansion of railway networks in countries such as the U.S., India, China, South Africa, and Spain, and the increase in favorable policies and regulations to curb emissions from transportation are the factors that have driven the demand for traction equipment thus far.

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However, TMR predicts that the global market will witness a rather slow growth in demand over the course of the forecast period. This is mainly due to the fact that the manufacturing and delivery time in this market is quite high and compared to the automobile sector the unit-wise shipment in the railway sector is exceptionally low. “Off-the-shelf sales are rare, as are replacement requests,” the analyst reports. This limits the demand for traction equipment.

Asia Pacific Surges Ahead in Demand for Traction Equipment

The opportunity in the global traction equipment market is poised to increase for US$223.38 bn in 2014 to be worth US$322.35 bn by 2024. If these values hold true, the market is expected to register a modest CAGR of 2.34% during the forecast period. The demand for traction equipment is also anticipated to expand at a tepid 2.09% CAGR from 2016 to 2024.

At a revenue share of 39.44%, Asia Pacific led the overall traction equipment market in 2014 and is likely to retain its lead through 2024. Europe is a close second. The traction equipment market in the Rest of the World is anticipated to expand at the fastest pace from 2016 to 2024 in terms of both revenue and demand. By type of equipment, traction motors are the leading contributors to the growth of the traction equipment market by value as well as volume, while the segment of traction transformers is projected to register the highest CAGR during the forecast period.

“The growth rates of these equipment correspond to that of the electrified network and locomotives across the globe,” the TMR analyst states. “As a result, the demand for traction equipment will rise with the increase in investments made in railways.”

This review is based on the findings of a TMR report titled “Traction Equipment Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”

Traction Equipment Market, by Equipment Type

Traction Transformer
Traction Motor

Traction Equipment Market, by Region

North America
The U.S.
Canada
Europe
Germany
The U.K.
Spain
France
Russia
Rest of Europe
Asia Pacific
China
India
Australia
Japan
Rest of Asia Pacific
Rest of the World
Brazil
Other Countries

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector – such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.

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Name: Rohit Bhisey
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Website: http://www.transparencymarketresearch.com/traction-equipment-market.html

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The top five companies in the global furfural derivatives market together accounted for 57% of the overall market in 2015. These players are Penn A Kem LLC, Nova Molecular Technologies, Inc., Sinochem Qingdao Co. Ltd., Hongye Chemical Co. Ltd., and Corbion NV. The growing presence of small and large companies has intensified the competition in the global furfural derivatives market, states Transparency Market Research, and the degree of rivalry is likely to remain high throughout the forecast period.

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Pricing plays a key role in this competitive environment since the cost of furfural derivatives is relatively high. This also means that the threat of substitutes is rather high. “Synthetic process materials such as ethanol are lower priced and can be used in place of furfural derivatives,” the author of the study states. This threat has compelled players in the market to engage in partnerships and joint ventures so as to increase their production capacity and lower the prices of furfural derivatives. One such company that has focused on joint ventures and acquisitions to increase production capacity is Hongye Chemical. Headquartered in China, Hongye Chemical reportedly possesses the largest production base for furfuryl alcohol and furfural in the world and, in 2015, reported a production capacity of 150,000 MT of furfuryl alcohol.

The global demand for furfural derivatives is poised to rise from 947.5 kilo tons in 2016 to 1,172.1 kilo tons by 2024, registering a 2.69% CAGR in terms of volume. On the other hand, the global revenue generated by the market during the course of the forecast period is projected to increase at a 3.76% CAGR

Asia Pacific to Lead Global Furfural Market by Value and Volume

Asia Pacific is the leading producer as well as consumer of furfural derivatives. Registering a 2.93% CAGR in terms of volume and a 3.98% CAGR in terms of value, the region is projected to retain its lead throughout the forecast period. Based on product type, the furfural derivatives market is led by the others segment, which comprises tetrahydrofuran (THF), methyl tetrahydrofuran (MeTHF) and poly tetrahydrofuran (Poly THF). The segment is projected to value US$1.1 bn by 2024 while the combined demand for the aforementioned derivatives is poised to reach 592.3 kilo tons by 2021. Registering a 2.85% CAGR from 2016 to 2024, the 2,5- furandicarboxylic acid segment will emerge as a swiftly expanding market.

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Rising Environmental Awareness among Consumers a Growth Driver

Rising concerns among consumers pertaining to the adverse effects of fossil-based resources on the environment have resulted in the widespread replacement of non-renewable sources with renewable and bio-based alternatives. Strict environmental regulations have also encouraged the use of bio-based products in a number of end-use industries. This has greatly driven the demand for furfural derivatives, which are mainly used for the production of biofuels and biochemicals. The rising demand in Asia Pacific, the leading market for furfural derivatives, is also anticipated to significantly boost the global market.

On the flip side, safety issues regarding the transportation of furfural and its derivatives is a major area of concern for this market. Different countries have different restrictions and legislations pertaining to transportation and export and this could pose a threat to the growth of the market in the coming years.

This review is based on the findings of a TMR report titled “Furfural Derivatives Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”

Furfural Derivatives Market, by Product

Furoic acid
Tetrahydrofurfuryl alcohol (THFA)
2,5- Furandicarboxylic acid (FDCA)
Others [tetrahydrofuran (THF), methyl tetrahydrofuran (MeTHF) and poly tetrahydrofuran (poly THF)]

Furfural Derivatives Market, by Geography

North America
The U.S.
Canada
Europe
Germany
Netherlands
Spain
Belgium
Asia Pacific
China
Japan
South Korea
Singapore
Middle East & Africa
Saudi Arabia
The UAE
Iran
South and Central America
Brazil
Argentina

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector – such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.

US Office Contact

90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

Name: Rohit Bhisey
Organization: Transparency Market Research
Website: http://www.transparencymarketresearch.com/furfural-derivatives-market.html

ReleaseID: 8076