Expanding Food and Beverages Industry Driving Commercial Refrigeration Equipment Sales across Asia-Pacific (APAC)
The expanding food and beverages industry are the key driver of the Asia-Pacific commercial refrigeration equipment market growth. According to a P&S Intelligence study, the sale of such equipment generated a revenue of $14.3 billion in 2017, and the market is predicted to advance at a 9.3% CAGR during the forecast period (2018–2023), ultimately valuing $24.4 billion by 2023.
Commercial refrigeration equipment is extensively used at supermarkets, hypermarkets, restaurants, and shops for merchandizing, retailing, and storing food items.
On the basis of equipment type, the market is categorized into beverage refrigeration, walk-in coolers, transportation refrigeration equipment, parts, display cases, ice making machineries, and other equipment. Among these, walk-in coolers led the APAC commercial refrigeration equipment market in 2017 with an over-25.0% revenue share.
The growing consumption of frozen food items and increasing number of hypermarkets/supermarkets were the primary reasons behind their dominance. While walk-in coolers will still be the largest market category during the forecast period, ice making machineries will observe the fastest growth.
The rapid growth of the ice making machineries category in APAC would be because of the increasing number of food outlets, cafes, and bars, which would drive their sales. Thus, it is clear that as the food and beverages industry develops, the APAC commercial refrigeration equipment market will also prosper. As per reports, APAC is the second-fastest growing market for food and beverages in the world, owing to the population boom and increasing number of middle-class individuals.
Hence, it is apparent that urbanization would continue driving the market during the forecast period.
APAC Commercial Refrigeration Equipment Market Segmentation
Market Segmentation by Equipment Type
- Beverage Refrigeration
- Walk-in Coolers
- Transportation Refrigeration Equipment
- Parts
- Display Cases
- Ice Making Machineries
- Other Equipment (vending machines, cryogenic equipment, and liquid chiller)
Market Segmentation by Application
- Food Service
- Food and Beverage Distribution
- Food and Beverage Retail
- Others (pharmacy refrigeration, genetic preservation, medical diagnostic applications)
Worldwide 3D Printing Market Witnessing Steady Growth
The global 3D printing market generated a revenue of $8,583.6 million in 2017 and is expected to witness a CAGR of 24.6% during the forecast period 2018–2023. The major drivers of the market are reduction in manufacturing cost, increase in government investments in 3D printing projects, and ease in the development of customized products.
In simple terms, 3D printing means additive manufacturing because it follows the process of combining material in consecutive patterns to build the desired shape. The technology acts as an alternative to subtractive manufacturing.
Now, coming to the process, 3D printing is classified into direct energy deposition, powder bed fusion, material extrusion, material jetting, binder jetting, vat photopolymerization, and sheet lamination. Among these, the power bed fusion process accounted for larger revenue share in 2017, of more than 20.0%. Due to the development of the product at low cost without compromising the quality with the help of this process, the 3D printing market is growing.
The various materials used in 3D printing are polymers, metals, and ceramics. Out of these, metal-based 3D printing made a revenue contribution of more than 49.0% to the domain in 2017.
The global 3D printing market growth has been segmented by component, technology, process, application, industry, and region in the report. On the basis of component, it is divided into the material, software, printer, and service, wherein printer accounted for the largest revenue share of more than 45.0% in 2017.
An automated process, 3D printing also lowers the labor cost attached to traditional manufacturing processes. Although, the cost for appointing skilled labor is incurred, it is less than that incurred otherwise. Therefore, the advantage of slashed manufacturing cost plays an important role in the growth of the 3D printing market.
Global 3D Printing Market Segmentation
Market Segmentation by Process
- Powder Bed Fusion
- Binder Jetting
- Direct Energy Deposition
- Sheet Lamination
- Vat Photopolymerization
- Material Extrusion
- Material Jetting
Market Segmentation by Technology
Recovering Economy Boding Well for Middle East and Africa (MEA) Compressor Market
After a slight slowdown in 2013–2017, brought on by the economic decline in the region, the Middle East and Africa (MEA) compressor market is expected to recover and grow at a CAGR of 5.1% during the forecast period (2018–2023). If everything goes well, it is being projected that the market will grow to more than $3.9 billion by 2023. The expanding automotive and oil and gas industries are having a positive effect on the market.
In the simplest sense, compressors are devices that increase the pressure of a gas by decreasing its volume. Positive displacement and dynamic are the two categories of the MEA compressor market on segmenting by type.
Of these, the positive displacement category held the larger revenue share in the market in 2017, owing to the rising demand for this compressor type from the automotive industry. Such compressors are used in the air conditioning systems of cars as well as those installed in buildings.
On the basis of application, the MEA compressor market is divided into oil and gas, construction, heating, ventilation, air conditioning, and refrigeration (HVAC-R), industrial manufacturing, chemical and cement, power, textile, food and beverages, and others. Among these, the oil and gas sector was the largest user of compressors, resultingly contributing the highest revenue to the market in 2017. Here, compressors are used for petrochemical synthesis, petroleum refining, gas injection, and pipeline transportation.
Thus, it is clear that apart from the recovering oil and gas industry, the expanding construction sector will also offer growth opportunities to compressors manufacturers in MEA.
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Optical Metrology Effectively Tackling the Riddle of Precise Measurements
The global optical metrology market is being driven by the increasing requirement for precise measurements and product assessments in the semiconductor, oil and gas, and manufacturing sectors. Generating revenue of $1,989.2 million in 2017 according to a P&S Intelligence study, the domain is expected to advance with a CAGR of 6.5% during the forecast period 2018–2023. Optical metrology can be defined as the usage of light for precise measurements in objects that are sensitive to touch.
Optical metrology, in this regard, provides the solution in various avatars, including 3D laser scanners that dominated the product segment of the optical metrology market, which also includes video measuring machines and laser micrometery, with more than 70.0% revenue share in 2017.
It is a universally accepted truth that technology helps make life easier, but on the downside, it makes machines and associated components complicated. As conventional measurement techniques have proved ineffective due to the rising complexities in machines, firms have sought an answer to the riddle of exact measurements and assessments.
oming to the global scenario, North America led the domain in the historical period 2013–2017 in terms of revenue generation, accounting for more than 30.0% market share. Owing to the growing automotive, aerospace, and defense industries, particularly in the U.S., the adoption rate of this technology for precise measurements grew. However, the future revenue and sales CAGRs of the optical metrology market are expected be the highest in Asia-Pacific, owing to the rapidly expanding automotive industries in China and India.
Thus, it is clear that, as machines and tools keep becoming more complex, optical metrology will be used even more in the coming years.
RF Transceiver Market Projected to Have a Stable Growth for the Next Few Years
The global RF (radio frequency) transceiver market is predicted to attain a size of $18.5 billion by 2024, advancing at an 11.6% CAGR during the forecast period. The increasing use of mobile devices and rapid deployment of internet of things (IoT) are some of the major factors driving the growth of the market. On the basis of design, the market is bifurcated into a standalone-chip and single-chip transceiver. Of these, in 2018, the single-chip transceiver bifurcation dominated the market in terms of revenue.
A single-chip transceiver consumes low power and can work with low voltage in a wireless system. In addition, these transceivers are rapidly being adopted in the healthcare sector for telemetry communication and wireless body area network.
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The emerging IoT technology, surging use of wireless communication devices, swift digitization, heavy adoption of smartphones, increasing dependence on technology in the daily routine, and growing deployment of upgraded devices in the defense, telecommunication, automotive, and transportation industries are expected to boost the RF transceiver market growth during the forecast period.
Further, the 4G cellular technology is predicted to be replaced by the 5G technology during the forecast period. 5G wireless technology is compatible with different frequency bands and can also be used for cellular and IoT applications.
With continuous technological developments and rising demand for high-performance and area-efficient transceivers, the introduction of the 5G communication technology is predicted to offer huge opportunities in the RF transceiver market around the globe.
Nations such as China, Japan, and the U.S. are aiming at developing and expanding their 5G network during the forecast period. For instance, Japan is investing vigorously on the 5G technology and is also ready to deploy such technology ahead of the Tokyo 2020 Paralympic and Olympic games for better connectivity and network coverage. Thus, with the increasing focus of nations toward the introduction of the 5G technology, 5G RF transceivers are predicted to offer opportunities to the players operating in the RF transceiver market.
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Due to the presence of numerous global players, the market is highly competitive. The market is dominated by four companies, namely STMicroelectronics N.V., Qualcomm Incorporated, MediaTek Inc., and Broadcom Inc. These businesses hold the majority of the share in the RF transceiver market as they are the prime choice of users owing to their reputation and the quality of their products. Qualcomm Inc., in 2018, held the largest revenue share in the market. This is attributed to its respect and the rising sale of its RF transceiver to key smartphone manufacturers.
RF Transceiver Market Segmentation
Market Segmentation by Design
- Single Chip Transceiver
- Standalone Chip Transceiver
Market Segmentation by Type
- 5G Transceiver
- 4G Transceiver
- 3G Transceiver
- 2G Transceiver
Market Segmentation by Application
- Mobile Devices
- Networking Equipment
- Add-on-Cards
- Embedded Modules
- Others
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MEA Commercial Refrigeration Equipment Market to Grow at a Stable Rate During the Forecast Period
The Middle East and Africa commercial refrigeration equipment market is expected to reach $4.8 billion by 2023. The growth in the market can be attributed to the development of organized retail in terms of restaurant chain, hypermarkets and supermarkets, and growing demand for ready-to-eat food and beverage.
On the basis of application, MEA commercial refrigeration equipment market has been categorized into food service, food & beverage retail and food & beverage distribution. Among these, food & beverage retail category accounted for nearly 24% market share in 2017. countries.
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As the food and beverage industry grows, the demand for commercial refrigeration equipment would also post a similar growth pattern in the forecast period. In terms of value, the food and beverage retail category projected to advance at a CAGR of over 6%, during the forecast period.
Product and services launches were one of the key developments observed in the Middle East and Africa commercial refrigeration equipment market. United technologies corporation, dover corporation, and Frigoglass S.A.I.C are the major companies involved in product and services launch in the market.
Development of organized retail pertaining to restaurants, supermarkets, and hypermarkets in developing countries such as Morocco, Algeria, Egypt and South Africa is one of the key growth drivers for MEA commercial refrigeration equipment market. The growth of organized retail can be attributed to increasing urbanization and government support in development of urban areas.
The key competitive factors for players in the industry include customer service, product quality, price and innovation with prime focus on price for small-scale end-users; and quality for large-scale end-users. Awareness regarding environment-friendly refrigerants, and green products, are resulting focus of players toward hydrocarbon coolers, energy labeling, and minimum efficiency standards.
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Some of the key players operating in the MEA commercial refrigeration equipment market are Daikin Industries Ltd., AB Electrolux, Frigoglass S.A.I.C., Dover Corporation, United Technologies Corporation, Johnson Controls International PLC, AHT Cooling Systems GmbH, Ali Group S.r.l. a Socio Unico, and Illinois Tool Works Inc.
About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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Nanophotonics Market to Grow at a Stable Rate During the Forecast Period
The global nanophotonics market is growing, due to increasing application of the technology in optical communication, organic light emitting diodes (OLED) and light emitting diodes (LED).
The reduction in manufacturing cost with the use of nanophotonics is one of the major factors providing ample opportunities for the global market. The high cost of raw materials, difficulty with large scale production and limited commercialization are some of the major factors restraining the growth of the global market.
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Nanophotonics is the study of communication of nanometer scale objects with light and the performance of light on the nanometer scale. Nanophotonics supports in fulfilling the system bandwidth demands and also supports the system to reduce the area and power of on-stack and off-stack interconnects.
Nanophotonics is the combination of optoelectronics, nanotechnology and photonics. Nanotechnology is the most preferred technology by research laboratories and companies, due to its high development prospects. Optoelectronics and photonics have modernized the semiconductor and electronics industry.
In 2014, Asia-Pacific led the global nanophotonics market and is also expected to maintain its dominance during the forecast period; whereas, the market in Europe is growing with the highest rate.
Some of the components of nanophotonics are quantum dots, plasmonics, nanotubes, crystals and nanoribbons. Among all the components, the plasmonics segment is expected to grow with the highest rate in the coming years, due to its potential in energy based products, such as solar cells.
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Some of the competitors in the global nanophotonics market are Samsung SDI Co Ltd., Intel Corporation, International Business Machines Corporation, OSRAM Licht AG, Lumileds Holding B.V., and EPISTAR Corporation.
Global Nanophotonics Market Segmentation
By Components
- Organic Light Emitting Diodes (OLED)
- Passive Matrix OLED
- Active Matrix OLED
- Light Emitting Diode (LED)
- High Beam LED
- Flashing LED
- UV LED
- Alphanumeric LED
- Optical Amplifiers
- Raman Amplifiers
- Optical Fiber Amplifiers
- Semiconductor Optical Amplifiers
- Near Field Optics (NFO)
- Photovoltaic (PV) Cells
- Ribbon Silicon PV Cells
- Poly Crystal line Silicon PV Cells
- Mono Crystalline Silicon PV Cells
- Amorphous Thin Film Silicon PV Cells
- Holographic Data Storage System
- Others
By Application
- Consumer Electronics
- Material Science
- Non Visible Wavelength Instruments
- Non Visual Applications
- Indicators and Signs
- Others
About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
Contact:
P&S Intelligence
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