Market Trends and Growth

Wednesday, 26 January 2022

Middle East Movies & Entertainment Market Worth $3.57 Billion By 2028

The Middle East Movies And Entertainment Market size is anticipated to reach USD 3.57 billion by 2028, registering a CAGR of 8.5% during the forecast period, according to a new report by Grand View Research, Inc. Increasing popularity of 3D movies that give the audience an experience of virtual reality is projected to drive growth. Additionally, the introduction of new marketing and distribution platforms such as IPTV, digital newspapers, DTH, and digital cable, as well as the online sales of music and movies, is anticipated to boost industry progress.

The Middle East movies and entertainment market is characterized by the presence of several well-established players. These players account for a significant market share and have diverse product portfolios and a strong presence across the region. The market also comprises small to midsized players that offer a selected range of products and mostly serve country-level customers.

Product launches help companies address the evolving needs of customers and gain a competitive edge over other players by offering new and innovative entertainment services. For instance, in April 2020, beIN Media Group, LLC launched a new cinema service that offers the latest international movies. The company announced ground-breaking cooperation with film distributors so that it can provide the latest movies straight to subscribers before they are seen in the cinema. This latest on-demand service is a positive announcement from the company given the current situation, and it would help keep consumers entertained and connected during the coronavirus crisis, bringing cinema to households across the Middle East and North Africa (MENA).

Some of the key players operating in the market are focusing on acquisitions to diversify their product offerings and strengthen their position in the market. For instance, in March 2019, The Walt Disney Company closed its USD 71 billion acquisition of 21st Century Fox’s entertainment assets. This acquisition allows the company to produce and distribute news, sports, and entertainment content through Fox News, Fox Sports, the Fox Network, and the Fox Television Stations.

The key companies are also focusing on strategic measures to expand their reach to a larger consumer base. For instance, Netflix Inc. is focusing on expanding its streaming membership business across the globe. To achieve the same, the company is improving its members’ experience by expanding its streaming content with an emphasis on programming a compelling mix of content that delights its existing members and attracts new members. Furthermore, it is continuously enhancing its user interface and extending streaming services to internet-connected screens.

Related Press Release@ Middle East Movies & Entertainment Market Report

Middle East Movies & Entertainment Market Report Highlights

Movies are projected to be the fastest-growing segment by progressing at a CAGR of 14.0% over the forecast period
The movies segment was valued at USD 334.0 million in 2020 and is expected to reach USD 953.3 million by 2028
Saudi Arabia region is foreseen to remain at the forefront regarding market share and projected to accounts for a total market share of 27.5% in 2028
Some of the key players operating in the Middle East movies and entertainment market includes Netflix, Inc.; Amazon.com, Inc.; beIN Media Group, LLC; MBC Group; Sony Entertainment, Inc.; and The Walt Disney Company

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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

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Wednesday, 19 January 2022

Premium Hair Care Market: Industry Insights By Product and Region

The global Premium Hair Care Market size is anticipated to reach USD 31.17 billion by 2028, registering a CAGR of 6.6% over the forecast period, according to a new report by Grand View Research, Inc. The overall personal care industry has a significant dependence on the chemicals and pharmaceutical industry for raw materials used in the final products. Thus, any price variations in these sectors have repercussions across the market. Consumers prefer buying premium haircare, skincare, and other beauty products through online channels, as it is convenient for them to shop for a wide range of brands and products that are available at comparatively lower prices. With the growing internet penetration, along with several technological advancements, consumers are increasingly buying premium hair care products from online retailers. In addition, the technology to enhance the conversion rate of website visits plays a crucial role in the salability of new products.

Features, such as chatbots and touchscreens, are being used online as well as in stores to improve customer experience and offer customized product suggestions. Such techniques help brands reach their target audience. Concerns regarding the efficacy of basic hair care products continue to bolster consumers’ demand for premium products. There has been a considerable shift in the channels through which people shop premium hair care products. Before the COVID-19 crisis, in-store shopping accounted for over 85%, on average, across all the beauty and personal care product purchases. The lockdown has severely impacted this aspect with over 30% of the beauty industry market under shut down. In addition, in most countries, the majority of these stores have closed down forever, and new openings have been delayed till the mid or end of 2021.

Related Press Release@ Premium Hair Care Market Report

Premium Hair Care Market Report Highlights

The proactive approach of consumers in buying and shifting to complicated hair care regimes, like using pre-shampoo masks, after-shower hair gels, and personalized hair shampoos & conditioners, is encouraging brands to innovate, develop, and market new natural products at pace with the changing consumer dynamics
For instance, in February 2021, Nykaa Naturals expanded its offering by adding a new natural hair care range
The new category is called Nykaa Naturals Hair and includes shampoo and conditioner in two variants – Apple Cider Vinegar & Ginger and Onion & Fenugreek
The shampoo product segment accounted for the largest share of more than 29% in 2020 and is expected to grow at a steady CAGR over the forecast period
The women demography segment accounted for the largest revenue share in 2020 and is estimated to ascend with a CAGR of over 6% during the forecast period
Asia Pacific accounted for the largest revenue share in 2020 and is estimated to expand further at the fastest CAGR retaining the leading position during the forecast period

Friday, 14 January 2022

Neodymium Market: Industry Demand, Analysis and Future Trends 2028

The global Neodymium Market size is expected to reach USD 3.39 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.3% from 2021 to 2028. The demand for electrical and electronic products is projected to assist the market growth over the long term.

Neodymium-based magnets are used in a variety of consumer and automotive electronic products. The products such as air conditioning inverters, washing machines and dryers, refrigerators, laptops, computers, and various loudspeakers require permanent magnets for their functioning. The emerging middle-class population is likely to drive the demand for these products, thus benefiting the growth of the market.

The healthcare sector is projected to offer new sales streams for the market vendors. MRI scanners and other medical equipment require neodymium materials for their implementation. This demand is likely to be led by Asia Pacific countries, such as China. Europe is projected to witness a decline in the share for the use of neodymium in the healthcare sector over the coming years.

The wind energy end-use segment is anticipated to register the fastest CAGR of 5.6% in terms of revenue from 2021 to 2028. Government and private investments to boost the renewable energy capacity installation are likely to remain a key growth factor for the segment. For instance, foreign direct investment for renewable energy in India has increased from USD 1.2 billion in 2017-18 to USD 1.44 billion in 2018-19.

Numerous companies and researchers are actively working on the development of recycling technologies for neodymium. Current costs are high and the infrastructure for the recycling of this critical material is under developing stages. Most of the rare earth elements including neodymium go to waste in dust and ferrous fractions. Since rare earth elements make up only a small percentage of the material in electronic waste, researchers need to look for economies of scale if recycling has to be done.

Related Press Release@ Neodymium Market Report

Neodymium Market Report Highlights

By application, the magnets segment held the largest volume share of over 65.0% in 2020. The demand for the segment is likely to be led by the automotive, wind energy, and electronics end-use industries
In terms of end use, the automotive segment dominated the market with a revenue share of over 55.0% in 2020. The demand for permanent magnets in conventional and electric vehicles is contributing to the growth of the market. The increasing penetration of electric vehicles is projected to remain a key driver for the segment
The wind energy end-use segment is anticipated to witness the fastest growth over the forecast period. Global focus towards renewable energies is projected to promote the expansion of the wind energy segment
Asia Pacific held the largest revenue share in 2020 and is expected to witness the fastest growth over the forecast period. Increasing production of permanent magnets, coupled with the growing end-use industries in China, Japan, and India, is projected to assist the regional market growth over the forecast period

Tuesday, 4 January 2022

Air Conditioning Systems Market: Industry Insights By Technology and End-use

The global Air Conditioning Systems Market size is expected to reach USD 175.15 billion by 2028, registering a CAGR of 6.2% from 2021 to 2028 according to a study conducted by Grand View Research, Inc. Factors such as increasing international tourism, growing consumer spending on home improvement, and introduction of energy-efficient systems, coupled with the rising popularity of green cooling concepts, are expected to drive the market growth over the forecast period.

Global events usually pave the way for extensive construction projects, such as the establishment of new buildings and improvement of existing infrastructure. These projects aim at accommodating and catering to the needs of international tourists & visitors or working professionals and providing them enhanced facilities. For instance, the 2020 Summer Olympics event, expected to be held in Tokyo, is expected to drive the construction and development of ample commercial, residential, and lodging spaces in the city before the event commences. Similarly, in Dubai, the government is expected to make significant investments in infrastructure development to accommodate the large number of visitors expected to be attending the Expo 2020, a universal exposition. This, in turn, is creating an increased demand for air conditioners.

The competitive landscape of the market is highly consolidated and characterized by high competition with the presence of key players such as Carrier Corporation, Haier Inc., Electrolux, Ingersoll-Rand plc, and DAIKIN INDUSTRIES, LTD. These players are engaged in mergers and acquisitions to enhance their market presence. For instance, in January 2018, Ingersoll Rand plc and Mitsubishi Electric Corporation signed a contract to create a joint venture to enhance the marketing, sales, and distribution of VRF and ductless heating and air conditioning systems. Under the partnership, the companies will distribute their products under the American Standard and Trane brands using the latter’s corporate logo and the former’s distribution channels.

Related Press Release@ Air Conditioning Systems Market Report

Air Conditioning Systems Market Report Highlights

The Packaged Terminal Air Conditioners (PTAC) segment is expected to register a CAGR of over 4.0% from 2019 to 2025 in terms of volume. This growth of the segment can be attributed to their increasing adoption in the hospitality and residential sectors
In terms of technology, the inverter segment is expected to experience significant growth over the forecast period owing to its ability to control the speed of the compressor motor, which helps in the continuous regulation of temperature. This variable speed compressor helps in saving 50% more energy and power as compared to non-inverter air conditioners
The commercial end-use segment accounted for nearly 20% of the overall market share in 2018. The segment is also anticipated to witness substantial growth over the forecast period owing to the rapid industrialization in various North American and European countries
The air conditioning systems market for North America is expected to exhibit a CAGR of over 6% from 2019 to 2025 in terms of revenue. With high penetration of air conditioners in developed economies such as the U.S., the region is expected to experience growth owing to increasing demand for replacement and refurbishment of existing systems.

Cooling Towers Market by SPX Corporation, Babcock & Wilcox Enterprises, Inc., Baltimore Aircoil Company, EVAPCO, Inc.

The global Cooling Towers Market is expected to reach USD 4.75 billion by 2028, according to a new report conducted by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.1% from 2021 to 2028. SPX Corporation, Babcock & Wilcox Enterprises, Inc., Baltimore Aircoil Company, EVAPCO, Inc. are some of the key players in this industry. Cooling towers are used in power plants, particularly in thermoelectric power plants, to remove excess heat from the plant. With the rising global demand for electricity, the number of power plants is also expected to increase, thereby driving growth of this market.

Furthermore, a tremendous rise in the number of construction activities across the residential and commercial sectors in developing countries is expected to boost the demand for this product. Additionally, rapid global industrialization is also a key driver expected to favorably impact the cooling towers market growth over the forecast period.

Technological advancements are expected to provide improved cooling capacity, minimum components, improved installation & energy savings, and low maintenance cost, which is further anticipated to escalate market growth in the near future. Moreover, stringent government regulations relating to the use of cooling towers across different regions is also expected to positively impact market growth.

However, environmental concerns related to cooling towers such as plume, drift, and water contamination are anticipated to moderately hamper the market demand. Nevertheless, the emergence of plume abated towers and drift eliminators is expected to overcome these environmental concerns and drive market growth in the near future.

Energy-efficient towers provide optimal cooling while exhibiting eco-friendly properties. These facilitate in water conservation, provide high-efficiency motors in order to cut down on the operating cost, and reduce environmental concerns. These environmental benefits are also expected to drive the demand for the product.

HVAC systems are generally implemented in commercial spaces, large offices, and shopping malls. Cooling towers are a mandatory component of an HVAC system, which is used to remove excess heat from the building. The increasing rate of urbanization and enhanced standard of living are expected to lead to the large-scale implementation of HVAC systems, thereby driving the market growth globally.

Related Press Release@ Cooling Towers Market Report

Cooling Towers Market Report Highlights

The closed-circuit type segment captured over 30% of the total revenue in 2016; however, hybrid type is anticipated to exhibit a substantial growth at a CAGR exceeding 4% from 2017 to 2025. This growth is attributed to their increasing adoption across various end-use industries.
The Fiber-Reinforced Plastic (FRP) material segment accounted for over 20% of the total market share in 2016. However, High-Density Polyethylene (HDPE) material segment is projected to register a significant CAGR exceeding 5.0% from 2017 to 2025, owing to various benefits including high corrosion resistance, low maintenance cost, and long service life.
Cooling towers have a wide scope for application in HVAC equipment and power plants due to their ability to remove excess heat. As a result, the HVAC segment is anticipated to capture a sizeable market share over the forecast period.
Asia Pacific has emerged as the fastest-growing market and is expected to witness a healthy CAGR of over 5.0%, which is primarily accredited to the rapid industrialization in this region.

Thursday, 23 December 2021

Commercial Tabletop Kitchen Products Market Worth $17.74 Billion By 2028

The global Commercial Tabletop Kitchen Products Market size is expected to reach USD 17.74 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.5% from 2021 to 2028. The Oneida Group, Villeroy & Boch AG, Arc International, Sambonet Paderno Industrie S.p.A., Mepra S.p.A., Sola Cutlery are some of the key players in this industry. The evolution of self-service kiosks and the popularity of buffet systems in restaurants have resulted in the growing adoption of commercial tabletop kitchen products. Besides, events such as holiday parties, business meetings, weddings, or any other social gathering require feeding a large number of people, wherein a buffet system is considered to be the ideal service option. This scenario is expected to result in the growing adoption of different buffet service utensils and serving ware, such as plates and drinkware.

The growing trend of food-away-from home, dining out, and takeout has been presenting lucrative growth opportunities for restaurants and eating joints, which has resulted in a surge in the number of eateries. This has driven the need for various tabletop kitchen products for the preparation, service, and delivery of various kinds of foods. The growth of the restaurant industry is mainly attributed to the customer desire for convenience, socializing, and high-quality food and services. This has influenced restaurant owners to invest in modern and quality tabletop kitchen products, including dinnerware and buffet ware.

The rapidly increasing urbanization across developing economies is a prominent factor leading to a positive scenario for the market. In line with this, growing investments by countries in constructing office buildings, hotels, retail stores, malls, hospitals, and other commercial infrastructure will result in the subsequent demand for various kinds of tabletop kitchen products. According to Invest India, the construction market in India is expected to emerge as the third-largest globally by 2025. Similarly, in China, the number of private hospitals doubled to a total of 16,900 hospitals in 2017 from 2011. Such infrastructure development efforts are paving the way for various commercial tabletop kitchen products across countries.

Businesses are gradually shifting from brick-and-mortar sales to e-commerce portals due to increasing digitization, penetration of smartphones, and internet access. To expand product visibility, especially in the emerging markets, manufacturers are showcasing their products on various online platforms, such as company-owned portals and third-party retailers. Appropriate pricing, dealer margins, a strong distribution network, and brand awareness are some of the critical factors determining the success of industry players. Omnichannel is a new strategy implemented by manufacturers in the market.

Asia Pacific held the largest revenue share in 2020 and is expected to expand at the fastest CAGR over the forecast period. In Asia Pacific, China is likely to be at the forefront in terms of revenue share and is expected to expand at a notable CAGR from 2021 to 2028. Factors such as the increasing popularity of commercial tabletop kitchen products and the expanding hospitality sector in the country are driving the market in China. The presence of a large number of manufacturers of tabletop kitchen products in China is another factor boosting the market growth.

Related Press Release@ Commercial Tabletop Kitchen Products Market Report

Commercial Tabletop Kitchen Products Market Report Highlights

Asia Pacific held the largest share of over 33.0% in 2020 and is foreseen to remain at the forefront over the forecast period
By material, the metal ware segment held the largest share of over 43.0% in 2020. This is attributed to the increased adoption of metal ware in the commercial sector
The porcelain material segment is projected to expand at the highest CAGR of 8.3% from 2021 to 2028 owing to its favorable properties, such as strength, elasticity, permeability, cost-effectiveness, and translucency

Tuesday, 21 December 2021

Non-destructive Testing Market Size Worth $22.9 Billion By 2028

The global Non-Destructive Testing Market size is anticipated to reach USD 22.9 billion by 2028, registering a CAGR of 6.7% over the forecast period, according to a new report by Grand View Research, Inc. The market is anticipated to witness significant growth over the forecast period. The growth is ascribed to the increasing manufacturing in the developing as well as developed nations.

The use of non-destructive testing (NDT) helps in detecting the faults precisely, reducing the product/component failure probability as well as costs incurred in the repairs of the components. The use of NDT also speeds up the process of manufacturing as the possible faults are eliminated beforehand. The key factor expected to drive the market is the technological advancements in non-destructive testing methods. Improvements in the techniques have ensured deviation-free fault detection and have reduced the complexity involved in the testing procedures considerably.

The ultrasonic testing segment is expected to witness significant growth. This growth is ascribed to the ease of handling the equipment, availability of skilled technicians, and precise fault detection. The manufacturing segment is expected to deploy NDT techniques extensively over the forecast period owing to the increasing awareness regarding their use.

Related Press Release@ Non-destructive Testing Market Report

Non-destructive Testing Market Report Highlights

The market is expected to exhibit a CAGR of 6.7% over the next eight years owing to a rise in manufacturing-related activities, globally
The services segment accounted for the largest revenue share of over 73.0% in 2020. The high upfront cost of non-destructive equipment coupled with technical complexities involved in their deployment/installation is the major reason influencing end-users to outsource their non-destructive testing operations
Rapid industrialization, especially in developing economies has significantly contributed to the growth of the market
The ultrasonic testing segment is expected to witness a significant CAGR of 7.5% over the forecast period owing to the benefits such as ease of handling and precise results
The manufacturing vertical segment was the dominant segment in 2020 and is expected to witness a healthy CAGR of more than 7.6% over the forecast period owing to the increased manufacturing activities primarily in Asia Pacific
North America dominated the market in 2020 and accounted for the largest revenue share of more than 35.0%, owing to the extensive adoption of NDT techniques in the region