Veterinary Vaccines Market to Grow at a Robust Pace During 2021-2026

Feb 25,2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Marine Lubricants Market.

It was estimated prior to this unanticipated outbreak that the Marine Lubricants Market was expected to grow at a CAGR of 1.9% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.

Marine Lubricants are used to reduce friction and heat generation between the surfaces when the surfaces move. These are also responsible for transmitting forces, transporting foreign particles, or heating or cooling the surfaces while they are moving. The increased emission of harmful nitrogen and sulfur oxide into the sea has drawn attention of the lubricant manufacturers to adopt quick measures to continue their operations in the market. Less emission will lead to better quality and durability of marine lubricants used in ships, prolonging the service life of the mechanical equipment’s. All the technological advancements in the marine industry play a crucial role in the growth of marine lubricants.

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

Based on the oil type, the market is segmented as mineral oil, synthetic oil, bio-based, and grease. The mineral oil segment held the largest share of the market in 2019, and is expected to register a moderate CAGR during the forecast period. The low cost and easy availability of mineral oil from crude extracts and their easy applicability in almost every marine application is driving the growth of this segment.

Based on the product type, the market is segmented as engine oil, hydraulic fluid, compressor oil, and others. The engine oil segment is expected to dominate the market during the forecast period because of huge size of engine, high consumption, and smaller drain intervals; the engine requires large amount of fuels and lubricants which are the key factors driving the growth of the segment.

Based on the ship type, the market is segmented as bulk carriers, tankers, container ship, and others. The bulk carrier segment is expected to dominate the marine lubricants market during the forecast period.

In terms of regions, Asia-Pacific is estimated to be the largest as well as the fastest-growing marine lubricants market during the forecast period, because of the presence of the busiest ports in the region. Increasing trade activities and rising infrastructural developments in the shipping industry (in the form of increasing ports network) are responsible for the high demand for marine lubricants in the region.

Key Players:

Some of the major marine lubricant manufacturers are-

• BP plc
• Royal Dutch Shell plc
• Exxon Mobil Corporation
• Chevron Corporation
• Sinopec Corporation
• PJSC Lukoil
• Idemitsu Kosan Co., Ltd.
• Total S.A.

Feb 25, 2021/IndustryNewsGlobal/--The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including Power Distribution Component Market. 

It was estimated prior to this unanticipated outbreak Power Distribution Component Market will reach CAGR of 6% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.

Power Distribution Component Market Insights

Power Distribution Component market is likely to witness a healthy CAGR of 6% during the forecast period. The prime factors to drive the power distribution components market are the increasing demand for effective T&D control systems, refurbishment & retrofit of existing grid infrastructure, expansion of micro-grid networks, rising peak load demand, and integration of a sustainable energy infrastructure.

Market Share Analysis

Power Distribution Component Market Share: By Product Type

Based on the product type, the market is segmented as switchgear, switchboard, distribution panel, motor control panels, and others. The distribution panels & circuit breakers dominated the power distribution component market in 2019, due to its applicability in a wide range of applications, from low voltage suburban networks to utility-based distribution infrastructure as well as its cost-effective nature.

Power Distribution Component Market Share: By Configuration Type

Based on the configuration type, the power distribution component market is segmented as fixed mounting, plug-in, and withdrawable. The fixed mount segment dominated the power distribution component market in 2019, and continues to dominate the market in the coming years as well.  Requirement for higher ampacity and voltage rating infrastructure makes fixed mount power distribution components an excellent choice for manufacturing units, process plants, oil & gas exploration & extraction, and similar industrial peripherals.

Power Distribution Component Market Share: By Insulation Type

Based on the insulation type, the market is segmented as air, gas, oil, vacuum, and others. Vacuum insulation governed the market in 2019, driven by high consumer reliability, leakage-free technology, and its economical price.

Power Distribution Component Market Share: By Installation Type

Based on the installation type, the power distribution component market is segmented as indoor and outdoor. The indoor power distribution component market is expected to grow at a faster rate during the forecast period, driven by the increasing space constraints and rising investments in R&D for the development of smart and compact control equipment.

Power Distribution Component Market Share: By Region

In terms of regions, North America is estimated to be the largest as well as the fastest-growing power distribution component market during the forecast period, driven by the increasing investment of the US government for the development of new electric networks and the gradual shift towards high-quality systems from the traditional electrical equipment.

Feb 24, 2021/IndustryNewsGlobal/--The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including Small Off-road Engines Market. 

It was estimated prior to this unanticipated outbreak Small Off-road Engines Market will reach CAGR of 5.0% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.

Small Off-road Engines Market Insights

Small Off-road Engines Market is likely to witness an impressive CAGR of 5.0% during the forecast period. Major factors such as growing participation in gardening and landscape activities globally, increasing urbanization, ongoing trends in campus and corporate gardening and urban farming, increasing technological enhancements, and growing consumer spending and presence of industry players are expected to fuel the market growth during the forecast period.

Market Share Analysis

Small Off-road Engines Market Share: By Engine Displacement Type

Based on the engine displacement type, the market is segmented as up to 100cc, 100cc to 500cc, and 500cc to 800cc. Engine displacement type between 100cc to 500cc is estimated to register strong growth owing to its superior performance capabilities with extended durability. This engine displacement type offers noiseless performance, lesser emissions and exceptional power output with lower fuel consumption, and is specifically designed for high debris applications. On the other hand, 500cc to 800cc type of engine displacement is also expected to witness robust growth in the market during the forecast period owing to its greater fuel efficiency and enhanced adaptability for various commercial applications.  

Small Off-road Engines Market Share: By Number of Cylinders Type

Based on the number of cylinders type, the market is segmented as single cylinder, double cylinder, and multi-cylinder. The double cylinder engine is likely to hold the major share of the market during the forecast period owing to its superior performance with higher durability. In addition, multi-cylinder engine is estimated to witness significant growth in the market due to its compact size, offering lower vibration and enabling quicker cooling with more cooling surface area and smaller cylinder bore.

Small Off-road Engines Market Share: By Drive Shaft Orientation Type

Based on the drive shaft orientation type, the small off-road engines market is segmented as horizontal and vertical. The vertical drive shaft engine is anticipated to witness significant growth rate in the market during the forecast period. Factor such as simple setup, lower maintenance, and relative availability of product is further expected to boost the segment’s growth during the forecast period.

Small Off-road Engines Market Share: By End-Use Sector Type

Based on the end-use sector type, the market is segmented as agriculture, domestic, gardening/landscaping, industrial, automotive, and construction. The gardening/landscaping segment is estimated to be the dominant end-use sector in the market owing to the extensive use of product to power various gardening and landscaping equipment such as chain saws, leaf blowers, cutters, and garden tillers. On the other hand, domestic and agriculture applications are also expected to witness substantial growth in the market during the forecast period owing to their growing demand from emerging countries.

Small Off-road Engines Market Share: By Distribution Channel Type

Based on the distribution channel type, the market is segmented as OEM and aftermarket. The OEM distribution channel is expected to hold the larger share of the market during the forecast period owing to the wide distribution and shifting consumer inclination towards product quality. Safety provision, improved durability, and excellent performance with minimized maintenance cost are the other major factors expected to accelerate the overall market growth during the forecast period.

Small Off-road Engines Market Share: By Region

In terms of regions, Asia-Pacific is estimated to be the fastest-growing region in the market during the forecast period. The growth of the region’s market is attributed to the presence of key players and the easy availability of raw materials, cost effective prices of products, and growing demand for domestic and agriculture equipment. On the other hand, North America is estimated to witness significant growth over the forecast period. The growth of the North American market is attributed to the increasing application of these engines in gardening/landscaping equipment. Also, Europe is expected to offer substantial growth opportunities during the forecast period.

Feb 24,2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Maleic Anhydride Market.

It was estimated prior to this unanticipated outbreak that the Maleic Anhydride Market was expected to grow at a CAGR of 5.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.

Maleic anhydride is a highly reactive chemical intermediate that is flammable, colorless, and has an acrid odor. It is manufactured from the oxidation of n-butane and benzene through fixed bed, fluidized bed, and moving bed or catalyst bed at high temperatures. It is majorly used in the production of unsaturated polyester resin as well as in the production of coatings, surfactants, pharmaceuticals, agricultural products such as pesticides and as an additive for plastics.

Increasing penetration of composite materials in the automotive, aerospace, and construction industries is the prime factor that has boosted the demand for unsaturated polyester resins, which are used to manufacture composite materials. Rising disposable income along with increasing use of spandex in compression stockings, sportswear and medical textiles has boosted the demand for 1,4-butanediol. The escalating growth in the construction industries in BRIC countries and other developing economies is expected to further drive the growth of the maleic anhydride market. In addition, lenient government regulations, easy availability of land and raw materials, low labor and transportation costs are the major factors encouraging the key players to shift their manufacturing activities to developing economies such as China, India, Indonesia, and Brazil.

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

Based on the raw material type, the market is segmented as n-butane and benzene. The n-butane segment held the larger share of the market in 2019, and is expected to remain dominant during the forecast period. N-butane-based maleic anhydrides are majorly preferred over benzene-based maleic anhydrides owing to their lower production cost and lesser harmful nature.

Based on the application type, the maleic anhydride market is segmented as unsaturated polyester resins (UPR), 1,4-butanediol (1,4-bdo), lubricating oil additives, copolymers, and others. The growth of the segment is mainly due to an increased demand for UPR from emerging economies, such as China and India, and its low price compared to the other epoxy resins. Increasing penetration of UPR in the marine, aerospace, automotive, construction, and chemical industries is expected to further drive the growth of the segment.

In terms of regions, Asia-Pacific is estimated to be the largest market during the forecast period, with China, Japan, and India being the countries with lucrative growth opportunities. The growth of the market is mainly driven by the expanding automotive and rising construction sectors in the major economies of the region. Increasing adoption of maleic anhydride to manufacture bulk molding compounds and fiberglass reinforced plastics is expected to further drive the demand for maleic anhydride in the region. Increasing disposable income, rapid industrialization, urbanization, and increasing spending in the construction sector in the region are expected to further drive the region’s market.

Key Players:

Some of the major maleic anhydride manufacturers are-

• Huntsman International LLC
• LANXESS AG
• Ashland Inc.
• Zibo Qixiang Tengda Chemical
• Ningbo Jiangning Chemical Co., Ltd.
• Polynt—Reichhold Group
• Nippon Shokubai Co., Ltd.
• Mitsubishi Chemical Corporation
• Gulf Advanced Chemical Industries Co., Ltd. (GACIC)
• Global Ispat Koksna Industrija d.o.o. Lukavac (GIKIL)

Feb 23, 2021/IndustryNewsGlobal/--The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including Online Powersports Market. 

It was estimated prior to this unanticipated outbreak Online Powersports Market will reach CAGR of 4.5% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.

Online Powersports Market Insights

Online Powersports Market is likely to witness an impressive CAGR of 4.5% during the forecast period. Increasing number of off-road vehicles across various industry verticals, growing number of water sports events globally, and growing usage of online platforms related to power sports purchases are some of the key factors fueling the online powersports market growth during the forecast period.

Market Share Analysis

Online Powersports Market Share: By Vehicle Type

Based on the vehicle type, the market is segmented as all-terrain vehicle, side-by-side vehicle, personal watercraft, snowmobile, and heavyweight motorcycle. All-terrain vehicle type is expected to be the leading vehicle type during the forecast period owing to the increasing number of racing competitions and trends. Further, easy maneuverability provided by all-terrain vehicles, low weight, robust construction and moderate driving age restrictions, increasing number of training centers for providing complete knowledge about driving and safety are some of the other factors boosting the segment’s growth during the forecast period.   

Online Powersports Market Share: By Region

In terms of regions, North America is estimated to account for the major share of the market during the forecast period owing to increasing investments in the development of recreational infrastructure. Factors such as favorable policies and government investments on recreational infrastructure and growing private sector investments in the development of new theme parks and watersports activities are further expected to provide lucrative growth opportunities in the regional market over the forecast period. Asia-Pacific and Europe are also estimated to offer substantial growth opportunities during the forecast period.