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The study segments the Penoxsulam Market based on key regions and crop types 2014 - 2020

Penoxsulam, with the chemical name 20 (2,2-difluoroethoxy)–6-(trifluoromethyl-N-(5,8-dimethyl [1,2,4] triazolo [1,5-c]pyrimidin-2-yl) benzenesulfonamide, is an active ingredient created by Dow AgroSciences LLC. It is available in sulfonamide-based herbicides. The product is used to control broadleaf weeds, sedge, and grass weeds in rice fields. Various penoxsulam formulations such as Grasp SC and Granite SC herbicides (liquid concentrate) are available for rice field applications in the U.S. Other formulations available in the market include Clipper (Vietnam and Indonesia), Viper (the European Union), Fencer (China), Ricer (Brazil and Argentina), and Rainbow (Egypt). The product is also used in applications in aquatics and turf. Sapphire and LockUp are the key brands in turf applications.

Penoxsulam is said to be mobile and not very persistent in either aqueous or terrestrial environments. This herbicide prevents the growth of weeds through a mechanism that does not harm animals. Hence, farmers prefer penoxsulam over other chemical herbicides that adversely affect the environment. Penoxsulam mixed with nitrogen is a safe herbicide formulation available for usage in lawns and gardens. However, a number of weeds such as fescues or perennial ryegrasses, annual bluegrass, and bentgrass species are resistant to this herbicide. Additionally, the crop protection industry has been witnessing an annual addition of various new herbicides. This may pose a threat to demand for existing products such as penoxsulam.

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Globally, more than 160 million hectares of land was dedicated to rice cultivation in 2012. Different herbicides such as acetochlor, clomazone, and butachlor are available for weed control in rice fields. Penoxsulam is one of the most widely used herbicides in paddy fields. Penoxsulam is primarily used in wet environments such as rice fields, water bodies containing aquatic weeds, and turfs. In terms of volume, the market share of penoxsulam for rice applications was more than 85% of the global demand in 2013. Low toxicity of the product is anticipated to drive the penoxsulam market. Aquatics and other applications such as turf are likely to remain more or less the same by 2020, owing to the stable growth of each application during the forecast period.

Asia Pacific emerged as the dominant market with more than 55% share of the global demand for penoxsulam in 2013. Demand for penoxsulam is anticipated to increase significantly in the Asia Pacific, mainly due to growth in the crop protection industry in the region. China, India, Indonesia, Bangladesh, Vietnam, and Thailand are among the key rice growing countries in Asia Pacific. RoW is the second-largest market for penoxsulam and is likely to experience significant growth during the forecast period. North America is the smallest market with a small share of land dedicated for rice cultivation. The region is estimated to experience sluggish growth owing to the low usage potential of penoxsulam in the region, compared to other regions around the world. Europe is likely to witness moderate growth during the forecast period, due to the availability of various other rice herbicides in the region.

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Dow AgroSciences LLC launched penoxsulam in 2005 in the U.S. The company’s penoxsulam production plant is located in Midland, Michigan. Dow AgroSciences LLC distributes its product formulations globally from the U.S. The company still holds the patent for penoxsulam; however, the market is expected to witness the entry of new manufacturers after the patent expires, i.e. between 2015 and 2017.

Table of Content

1. Preface

2. Executive Summary

3. Penoxsulam Market - Introduction

4. Global Penoxsulam Market: Crop Type Analysis

5. Penoxsulam Market: Regional Analysis

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Report provides detailed analysis and forecast of the Isoxaflutole Market on a regional level

Isoxaflutole is used as an herbicide in the agrochemical industry. The chemical is used on grasses and broad-leaved weeds in corn. Isoxaflutole restrains the carotenoid biosynthesis, which is responsible for chlorosis in plant growth. The active ingredient is rapidly metabolized in the soil as well as in the plant by opening the isoxazole, which forms a diketonitrile–metabolite that is responsible for the mode of action in the plant. Isoxaflutole herbicide is primarily used on two vegetable crops: maize/corn and sugarcane. It is also used on fruit crops such as almond, peach, walnut, and apple Significant production of these food sources in emerging economies such as Brazil and emerging regions such as Asia Pacific is expected to boost the market for this herbicide over the next few years in these regions.

Asia Pacific accounted for over 30% of isoxaflutole market volume share in 2013. Major crops that make use of isoxaflutole such as sugarcane and maize are produced in large quantities in the region. Sugarcane production has increased in the region due to rising demand for biofuels in a number of key end-user industries such as automotive and aerospace. Growth in demand for sugarcane for food and biofuels has resulted in the rapid production of the crop. Thus, the usage of herbicides such as isoxaflutole in these crops has also increased. Other factors such as growth in the corn industry in various emerging economies such as India, China, and Brazil have also boosted the demand for herbicides.

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Demand for isoxaflutole was the highest in vegetable crops, accounting for approximately 90% of the market share in 2013. Isoxaflutole is extensively used on sugarcane crops to eliminate various weeds and pests. The crop is regarded as one of the most efficient and significant sources of bio-fuel. The market for biofuels has been expanding due to rise in oil prices, which is significantly encouraging the demand for sugarcane. This, in turn, has boosted the demand for herbicides such as isoxaflutole. Isoxaflutole is also employed in the production of other vegetable crops such as corn or maize. Countries such as the U.S. and China are the top two producers of corn. Isoxaflutole is used in the growth of other crops such as fruits. Various fruit crops including almond, apple, peach, and Brazil nut use isoxaflutole in their growth mechanism. The U.S. accounts for the largest share in the production of almonds. Isoxaflutole is widely used for the growth of the crop in the U.S.

Maize and sugarcane are the major vegetable crops that make use of isoxaflutole. North America, particularly the U.S., accounts for more than 40% of the global maize production. Thus, the region accounts for the highest consumption of isoxaflutole for these crops. Corn and maize crops account for the majority of demand for isoxaflutole in Europe. Maize is extensively used in feed, food, industrial, and ethanol production. Thus, the corn industry has witnessed growth over the past few decades. Demand for corn in emerging regions such as Asia Pacific is primarily driven by ethanol production. However, increasing consumption of meat in emerging economies such as China and India has a high impact on the corn industry. Corn is a major component of livestock feed. Demand for isoxaflutole is dependent on the number of animals consuming corn. Fresh meat sales in China grew by 3.5 tons alone in 2011, due to growing per capita income and changing food habits of the people in the country.

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Companies such as Bayer CropScience, and E. I. du Pont de Nemours and Company are the key players in the isoxaflutole industry.

Table of Content

1. Preface

2. Executive Summary

3. Isoxaflutole Market – Industry Analysis

4. Isoxaflutole Market – Crop Segment Analysis

5. Isoxaflutole Market – Regional Analysis

About MRRSE

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Business Alliances to Open New Growth Opportunities for Players in Automotive Thermal System Market

The automotive industry is one of the booming industries and is expected to witness considerable growth during the forecast period. The automotive thermal market is presently more inclined towards reducing emission of harmful gases. Factors such as stringent emission norms, electrification of automobiles, and increased usage of eco friendly refrigerants are contributing to the growth of the automotive thermal system market.

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The automotive thermal system comprises heating ventilation and air conditioning, battery thermal management, powertrain device cooling, and waste heat recovery. The shifting preference of customers to lightweight automotives has also led to the growth of the automotive thermal system market. The key challenge faced by the automotive thermal system market is the rise in cost cutting measures being taken by the automotive manufacturing companies in view of the steep rise in the cost of thermal systems.

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Major market participants profiled in this report include Continental AG, Denso Corporation, Gentherm Inc., Mahle GmbH, Valeo among others.

Table of Content

1. Preface

2. Executive Summary

3. Global Overview

4. Automotive Thermal System Market, by Component

5. Automotive Thermal System Market, by Region

About MRRSE

MRRSE stands for Market Research Reports Search Engine, the largest online catalog of latest market research reports based on industries, companies, and countries. MRRSE sources thousands of industry reports, market statistics, and company profiles from trusted entities and makes them available at a click. Besides well-known private publishers, the reports featured on MRRSE typically come from national statistics agencies, investment agencies, leading media houses, trade unions, governments, and embassies.

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The report covers Membrane Separation Market analysis, by process segment and end-user by 2019

Mandatory government regulations and increasing demand for clean processed drinking water is propelling the water processing industry to provide the public with clean processed drinking water free of impurity. Providing growth opportunity for water treatment industry among which, Membrane separation technology is one of the most popular methods used for cleaning water. Shifting from chemical to physical treatments of water is also a major driver as chemical treatments are perceived as an environmentally unclean technology with associated disposal costs. Additional awareness of water scarcity has influenced the demand for water reuse in water stressed areas. Governments and municipal authorities are increasingly waking up to the effects of environmental degradation on the economy. Worldwide industrial expansion and growing population are propelling the demand for better water treatment technology, providing growth opportunity for the global market of membrane separation technology. Additionally, the oil and petroleum industry is well established in the gulf and European countries such as Italy and Germany which involve membrane separation technology for liquid separation. Expansion of such industry is expected to increase the overall demand for membrane separation technology. Membrane separation technology is bifurcated into four major processes, microfiltration, ultrafiltration, nanofiltration and reverse osmosis. Microfiltration dominates the market with more than 35% global market share in 2012. Whereas water & wastewater dominates the end-user market with 36% global market shares in 2012. The global membrane separation market grew from USD 19.0 billion in 2010 to USD 21.2 billion in 2013.

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European membrane market (largest in 2013) is expected to reach USD 13.8 billion in 2019, growing at a CAGR of 9.6%. In 2012 water & wastewater sector was the major end-user of membrane separation technology and is expected to increase at a CAGR of 11.1% during 2013-19. The membrane separation market is fragmented with several players in the market supplying membrane separation products to the end-users (water and wastewater, industrial and healthcare) in the market. Major companies operating in the membrane separation technology market and manufacturing all four products (microfiltration, ultrafiltration, nanofiltration and reverse osmosis) are Evoqua Water Technologies, Pall Corporation, Koch Membrane Systems Inc., Merck Millipore, Degremont SA, Dow Chemical Company, GEA Filtration, 3M Company, Nitto Denko Corporation and Veolia Environnement.

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Table of Content

1. Preface

2. Market Synopsis

3. Porter Five Forces Analysis

4. Industry Overview

5. Market Size and Forecast by Process

About MRRSE

MRRSE stands for Market Research Reports Search Engine, the largest online catalog of latest market research reports based on industries, companies, and countries. MRRSE sources thousands of industry reports, market statistics, and company profiles from trusted entities and makes them available at a click. Besides well-known private publishers, the reports featured on MRRSE typically come from national statistics agencies, investment agencies, leading media houses, trade unions, governments, and embassies.

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Advent of Smart Surveillance Systems to Boost Global Video Surveillance and VSaaS Market

The global video surveillance and VSaaS market is expected to witness a tremendous surge in its valuation in the near future. The advent of smart surveillance systems is having a significant influence on the demand for video surveillance and VSaaS solutions across the world. In addition to this, the increasing trend of process automation is likely to reflect positively on the sales of these solutions over the forthcoming years.

According to Transparency Market Research (TMR), the opportunity in the global market for video surveillance and VSaaS, which was worth US$21 bn in 2015, is estimated to expand at a CAGR of 17.0% during the period from 2016 to 2024 and cross US$88 bn mark by the end of 2024.

Demand for IP-based Video Surveillance VSaaS Solutions to Increase

The global market for video surveillance and VSaaS is analyzed on basis of the type, component, and end user. Analog solutions and IP-based solutions have emerged as the most preferred video surveillance and VSaaS solutions across the world. Among the two, the demand for IP-based video surveillance VSaaS solutions is likely to increase considerably over the next few years.

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Business organizations residential complexes, retail stores, hospitality, transportation government buildings, industrial sites, healthcare organizations, and stadiums have surfaced as the key end users of video surveillance and VSaaS solutions, globally. Among these, the demand for these solutions has been greater from the transportation segment.

In terms of components, hardware, specifically, recorders and storage, which is currently dominating the global video surveillance and VSaaS market, are expected to maintain their lead in the coming years.

Asia Pacific to Present Lucrative opportunities for Growth

Asia Pacific, Latin America, North America, the Middle East and Africa, and Europe are the key regional markets for video surveillance and VSaaS. Currently, Asia Pacific and North America hold almost equal shares in the global market. However, the scenario may change over the next few years, with the growth trajectory tilting towards Asia Pacific.

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The market for video surveillance and VSaaS in Asia Pacific is being dominated by a number of players that are offering highly cost-efficient security solutions to cater to the requirements of consumers in high population countries, such as China and India. Both the countries are exhibiting an exception rise in the industrial and residential sectors, leading to an increased demand for better security networks.

Players Focusing on Strategic Partnerships to Gain Technological and Distribution Channel Advantages

The global market for video surveillance and VSaaS demonstrates a fragmented structure, which leads to a high degree of rivalry between the participants. Players are aggressively focusing on strategic partnerships in order to gain technological and distribution channel advantages. With increasing entry of new vendors, the competition within the market is likely to escalate considerably over the next few years.

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Geovision Inc., Agent Video Intelligence, Axis Communications AB, Zhejiang Dahua Technology Co. Ltd., Genetec Inc., Hikvision Digital Technology Co. Ltd., Bosch Security Systems Inc., Panasonic System Networks Co. Ltd, Honeywell Security Group, Canon Inc., Pelco Inc., and Cisco Systems Inc. are some of the leading vendors of video surveillance and VSaaS across the world.

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Sports Gun Market - Growing Participation in Sporting Events Augurs Well for Global Market

Sports guns are non-lethal weapons that use metal tubes to fire bullets, pellets, artillery shells, darts or arrows with explosive force or compressed air. These guns are predominantly used in sporting events such as rifle shooting, target shooting, and handgun shooting. Besides competitive sports, sporting guns are also used for recreational purposes for hunting and paintball. Unfortunately, hunting guns have the capability of injuring or harming life, which has become the very reason for their plummeting sales in recent years. The research report states that the global market has a bright future. According to the research report, the opportunity in the global sporting guns market is likely to be worth US$2.3 bn by the end of 2024 as compared to US$1.6 bn in 2015. Between the forecast years of 2016 and 2024, the global market is anticipated to progress at a CAGR of 3.9%.

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Growing Participation in Sporting Events Augurs Well for Global Market

The growing awareness about shooting as a sport is expected to be the major driving force for the global market. Target shooting is known to build and enhance physical discipline amongst sportsmen. It improves motor skills, hand-eye coordination, and stamina. The persistent usage of guns increases arm strength, which, in turn, helps in improve the aim at targets. In the case of marksmen it enhances the ability to focus, thus helping them aim at targets with precision. Shooting also sharpens the eyesight, levels of concentration and is hence known as a challenging mental sport. It also challenges the mind to use logic and mathematics to calculate the wind velocity to make a winning aim. These benefits of shooting as a sport are augmenting the demand for sporting guns across the globe.

Sporting guns are used for competitive shooting, recreation, and hunting. As of 2015, the competitive shooting segment held the dominant share in the global market, which was closely followed by hunting. Over the past few years, the competitive shooting segment has witnessed a prolific surge due to increasing participation in sporting activities such as The Olympic Games. However, the demand for sports guns has witnessed a downfall in emerging economies due to their high price of manufacturing and imports.

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North America Shows Promise of Steady Growth during Forecast Period

In terms of geography, the global sporting guns market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. North America is leading the global market in terms of revenue. As of 2015, the regional market held a share of 49% in the overall market. The lion’s share of the regional market is attributable to the growing participation of the population in sporting events, increasing investments in training students for shooting events, and the presence of strong players in the region. Europe also holds a significant share in the global market due to similar reasons.

On the other hand, the demand for sporting guns across Asia Pacific and the Middle East and Africa is expected to decline due to the high cost of components to make these products. However, the global market does have lucrative opportunities in tow as several regions are focusing on refurbishing and replacing old sporting guns with new ones.

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The key players operating in the global sporting guns market are Howa Machinery Company Ltd., Sturm, Ruger& Co., Smith & Wesson Holding Corp., Creedmoor Sports, Inc., German Sport Guns GmbH, Dick\'s Sporting Goods, Inc., Beretta Holding S.p.A., J.G. Anschutz & Co., Browning Arms Company, and Miroku Corporation.

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Growth in Retail Chain to Bolster Opportunities for GCC Processed Meat Market

The growth witnessed in the retail sector played a major role in boosting the processed meat market in GCC. Modern retailers such as hypermarkets, supermarkets, and convenience stores and the traditional brick and mortar retail outlets such as independent small groceries are considerably contributing to the sales of processed meat. Currently, the developing economies are exhibiting the highest scope for the market’s development. With the rising competition, leading players are thus focusing on capitalizing on opportunities prevalent in the emerging nations. Despite witnessing positive growth in GCC, the rising cost of animal feed has emerged as a key restraint, limiting the market’s trajectory.

Nevertheless, aggressive marketing strategies by the leading vendors and the increasing investment in advertising will boost prospects, thus enabling the GCC processed meat market to exhibit a CAGR of 8.4% between 2016 and 2024. At this pace the market, which stood at US$760.7 mn, is expected to reach US$1.5 bn by the end of 2024.

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Entry of New Player to Render GCC Processed Meat Market More Fragmented

The processed meat market in GCC is highly fragmented, with the cumulative market share of the top six companies accounting for nearly 35% in 2015. These companies are Gulf Food Industries, Al Islami Foods, National Food Co., BRF SA, Sunbulah Group, and Almunajem. These enterprises have a strong presence across GCC, which is why they could enjoy a stronghold.

However, with the increasing number of companies venturing into the market, the existing players are concentrating on product diversification and innovation. Besides this, the players are keen on deciphering the consumer preference to pocket the lion’s share of the market. For instance, to gain better traction Perdigão, which is a brand of BRF SA introduced a line of smoked hams, sausages, and pork cuts.

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With product innovation and diversification at core, leading players are likely to keep no stone unturned to emerge dominant in the GCC processed meat market, subsequently giving it significant impetus.

Demand for Frozen Processed Meat to Remain High

Based on product, the frozen processed meat enjoyed dominance based on volume as well as dominance in the GCC processed meat market in 2015. The rising sales of frozen variant across nations in GCC will create ample opportunities for the market’s growth between 2016 and 2024. Besides this, the market is also expected to gain from the increasing demand for packaged and convenient food among all age groups.

On the other hand the demand for chilled processed meat, which has shorter shelf-life, is not quite high. Meanwhile, the demand for frozen processed meat products such as salamis and hot dogs is significantly high among the younger generation in GCC.

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Chilled processed meat, on the other hand, does not enjoy the same variety and these products have a shorter life. Frozen processed meat products such as hot dogs and salamis are very popular among the younger generation across the GCC. The others segment, which includes shelf-stable meat, is expected to witness high demand over the next few years. This category of meat has the lowest unit price and is demanded mainly for its convenience as no time is lost in cooking.

Growth witnessed across the aforementioned product segments will significantly aid the expansion of the processed meat market in GCC.

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Customized and Innovative Products Offer Opportunities for New Players in Global Prepacked

Market Research Reports Search Engine (MRRSE) announces the addition of a new report, which is a thorough analysis of the global prepacked chromatography columns market in its current scenario and presents figurative estimates of the future until 2024. The report, titled “Prepacked Chromatography Columns Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024,” finds that GE Healthcare dominates the market with more than half the shares as of 2015, the base year of the report.

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Together with Repligen Corporation, GE Healthcare accounted for 78.0% of the market during the base year and are expected to sustain their dominance during the forecast period. However, some of the smaller players are concentrating on competitive pricing, engaging in symbiotic alliances, and offering customized products to gain market share. For example, Agilent Technologies launched the Agilent 1260 Infinity II liquid chromatography system in 2016. This enabled the company to improve usability and reduce operational cost, which in turn helped strengthen their position against GE Healthcare and Repligen Corporation.

Growing Acceptance of Chromatography Columns Observed

According to the report, the global prepacked chromatography columns market stood at US$1.6 bn in 2015 and, rising at a healthy CAGR of 8.4% during the forecast period of 2016–2024, it is estimated to reach a valuation of US$3.3 bn by 2024.

The report observes that prepacked chromatography columns have extensive use in several industries such as pharmaceutical and biotechnology, water and environmental, food and beverage, academics, nutraceuticals, research institutes, and analytical laboratories. Also, as consumers realize the usefulness of chromatography columns, the acceptance is surging. Moreover, as the biologics in the pipeline of pharma companies increase, the global market for prepacked chromatography columns is set to be benefitted. Rapid research and development activities in the field of separation techniques are playing a major role in augmenting the demand.

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Multimodal Chromatography to Gain Prominence in Coming Years

The global market for prepacked chromatography is segmented on the basis of product type, technology, application, end user, and geography. By the type of product, the market is divided into 1–100 ml, 100–1000 ml, and >1L. The report finds that the >1L segment accounted for nearly 50% of the market in 2015 and is anticipated to remain most in-demand product during the forecast period.

By technology, the market is segmented into hydrophobic stationary phase, ion exchange chromatography, affinity chromatography, multimodal chromatography, and gel filtration. Hydrophobic stationary phase chromatography contributed to the most prominent share in the prepacked chromatography columns market in 2015. However, multimodal chromatography is expected to expand at a stronger rate in a next few years. Based on application, the market is divided into resin screening, protein purification, anion and cation exchange, and desalting. By end user, the market is segmented into pharmaceutical and biotechnology, food and beverage, water and environment, nutraceuticals, academics, research institutes, and analytical laboratories. Geographically, the report studies the regional markets of North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

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A few other key players in the global prepacked chromatography columns market are Agilent Technologies, Bio-Rad Laboratories, Inc., KNAUER Wissenschaftliche Geräte GmbH, EMD Millipore (Merck KGaA), Phenomenex, Inc., Pall Corporation (Danaher Corporation), and Thermo Fisher Scientific, Inc.

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Thriving Automotive Sector Drives Demand for Plain Bearings

The soaring demand for motor vehicles has lent a considerable impetus to the demand for plain bearings across the globe. The development of durable bearings, thanks to technological innovations, has resulted in their widespread adoption across not just the automotive industry but the defense and aerospace sectors as well.

The global plain bearing market is slated to rise from a value of US$9.5 bn in 2015 to US$16.2 bn by 2024, according to a report by Transparency Market Research. If these values hold true, the opportunity in the market will increase at a 5.8% CAGR during the forecast period. In terms of demand, the market is expected to register a 6.5% CAGR from 2016 to 2024.

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Rapid Industrialization and Urbanization Lending Power to APAC Plain Bearing Market

From a geographical perspective, the global plain bearing market is segmented into Asia Pacific, North America, Europe, and Rest of the World. Asia Pacific accounts for the largest share in the worldwide market and is anticipated to hold on to its leading position through 2024. This regional market is primarily driven by a massive automotive sector and rapid urbanization in emerging APAC countries such as China, Taiwan, Japan, South Korea, Singapore, and India. Another factor driving the Asia Pacific plain bearing market is the declining prices of bearings. Rapid infrastructural development and rising number of manufacturing facilities have also encouraged the demand for plain bearings in the region.

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The Rest of the World market for plain bearings is also a significant contributor to the global plain bearings market. This segment, comprising the regions of South America, the Middle East, and Africa, offers lucrative opportunities for players thanks to its booming automotive and construction sectors. An increasing level of industrialization is also responsible for the growth of the RoW market.

Journal Bearings Take the Lead in Global Market by Design Type

On the basis of end use, the plain bearing market comprises industrial and automotive. The industrial segment includes energy, farm and garden machinery, oilfield machinery, aerospace, and construction machinery. The automotive segment holds the major share in the global plain bearing market, accounting for more than half the demand in 2015. By way of design type, the market is divided into linear, journal, and thrust. The journal bearings market dominates the scene, holding on to its lead position throughout the forecast period. This can be attributed to its extensive usage in the automotive and construction industries.

Companies Rely on Product Development to Expand Global Footprint

By nature, the vendor landscape of the plain bearing market is characterized by moderate consolidation. In 2015, the top six players, namely The Timken Company, JTEKT Corp., Schaeffler Group, SKF Group, NTN Corp., and NSK Ltd. together accounted for a share of 40.0% in the global market. Of these, SKF held the dominant position, thanks to its ongoing focus on new product development. In April 2014, the company launched new spherical roller bearings that are known to reduce maintenance costs and improve performance. SKF has been dedicated on product innovation so as to cater to the rising needs of its customers.

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Other key players operating in the global plain bearing market include RBC Bearings, Inc., GGB Bearing Technology, Brammer Plc., and AST Bearing LLC. These companies have been focused on growth strategies such as value-based pricing, strengthening global presence, acquiring other businesses, and mass production.

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Increasing Expenditure on Animal Health and Fitness to Catalyze Demand for Pet Wearables

Market Research Reports Search Engine (MRRSE) has announced that its repository now features a report, titled “Pet Wearable Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016–2024.” According to the report published by Transparency Market Research (TMR), the market is expected to progress at an impressive CAGR of 12.0% from 2016 to 2024, reaching a value of US$2.5 bn by 2024 from US$1.0 bn in 2016.

North America and Europe to Represent Large Share in Revenue Pie Owing to Availability of Advanced Wireless Infrastructure

In terms of geography, North America and Europe will be the major pet wearable markets throughout the forecast period, collectively accounting for 75% of the overall market revenue. The high market penetration of pet wearables across these regions can be attributed to the stringent government regulations related to treatment towards animals. These stringent rules have mandated household with pets to purchase products such as behavior modification devices and bark collars.

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Moreover, the presence of advanced wireless infrastructure and telecommunications technologies has triggered the adoption of GPS-based pet collars along with monitoring devices. The high purchasing power of pet owners in these regions is also supplementing market growth. Asia Pacific is estimated to rise at a significant CAGR during the same period, primarily driven by the increasing adoption and sales of GPS and RFID technology-based devices.

Rising Awareness Regarding Animal Safety and Health to Play Central Role in Market Growth

With the rising disposable income, pet owners have started spending on their pets more than ever before. It is estimated that the overall expenditure on pets will increase by approximately 50% by 2020.This trend along with the advent of wearable technology and increasing awareness regarding pet safety and health has provided a significant push to the global pet wearable market. The increasing animal husbandry worldwide is also influencing the growth of the market positively. Owners of farm animals are increasingly using pet wearables to monitor and track animals’ health and fitness.

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Unreliable Internet Connectivity in Developing Regions to Hamper Growth Prospects

Despite the numerous benefits of wireless technology, their high cost per line is limiting the widespread adoption of pet wearables. Moreover, the poor internet connectivity in several developing countries is hindering the growth of the market. Nevertheless, a large number of new players are venturing into the market since it is in its initial growth phase and holds tremendous potential in the coming years.

Browse Full Global Pet Wearable Market Report with TOC:http://www.mrrse.com/pet-wearable-market

The global market for pet wearables is highly consolidated, with the top two players - DeLaval Inc. and GEA Group AG - commanding a whopping combined share 89% of the overall market revenue in 2015. As the market is still at its nascent stage, several players are keen on capitalizing untapped technology and product segments and regions. Product innovation and rigorous research and development efforts are some of the commonly adopted strategies by the leading players to stay ahead in the market.

About MRRSE

MRRSE stands for Market Research Reports Search Engine, the largest online catalog of latest market research reports based on industries, companies, and countries. MRRSE sources thousands of industry reports, market statistics, and company profiles from trusted entities and makes them available at a click. Besides well-known private publishers, the reports featured on MRRSE typically come from national statistics agencies, investment agencies, leading media houses, trade unions, governments, and embassies.

Contact

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State Tower,
90 State Street,
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Albany NY - 12207
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