The turbofan engines market share is expected to be worth USD 1.05 billion in 2022. The industry increased by 6.3% year on year over the last year. Turbofan Engines sales are expected to grow at a CAGR of 17.2% from 2022 to 2032, reaching a value of USD 5.1 billion by the end of 2032.
Demand for turbofan engines in the commercial segment to remain strong, while demand for turbofan engines in wide-body aircraft to grow at a rapid pace during the assessment period. The turbofan engines…
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Added by Latest Market Trends on August 26, 2024 at 8:51am —
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The sales of used bikes through bike marketplace are projected to experience a steady growth with an average Compound Annual Growth Rate (CAGR) of 4.6% during the forecast period. The increasing awareness about bike marketplace sales is expected to drive substantial growth, leading to a significant increase in sales from USD 43 Billion in 2022 to USD 68 Billion by 2032.
Sales of used bikes through bike marketplaces have been steadily increasing in recent years, driven by several…
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Added by Latest Market Trends on August 26, 2024 at 8:46am —
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The electric vehicle sensor market is slated to have a valuation of USD 10,725.11 million in 2024. The greater number of electrical vehicles on the road is signaling positive things for the EV sensor market. As demand for sustainability grows, the electric vehicle sensor market is thriving alongside the EV sector.
The Electric Vehicle Sensor industry is slated to progress at a CAGR of 16.5% through 2034. By the time 2034 rolls around, the Electric Vehicle Sensor market’s value is…
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Added by Latest Market Trends on August 26, 2024 at 8:41am —
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The global pipes market is valued at a substantial USD 146.38 billion valuation by 2024. The projected growth trajectory is expected to be exceptionally strong, with a compound annual growth rate (CAGR) of 5.01%. By 2034, this trajectory is expected to propel the market to a remarkable valuation that will surpass USD 238.67 billion.
The industrial sector, where pipes are being used more and more, is expected to account for a significant portion of this growth—more than 25.6%—by the…
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Added by Latest Market Trends on August 23, 2024 at 1:26pm —
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The environmental test chambers market is registering an average growth pace with an estimated CAGR of 4.6% from 2023 to 2033. Due to the growing number of standards governing product quality in various industries, environmental test chamber manufacturers are likely to receive revenue potential as high as USD 1,435.1 million by 2033. As per the FMI’s latest report on the environmental test chambers market, constant technological improvements and tight regulatory criteria are expected to boost…
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Added by Latest Market Trends on August 23, 2024 at 1:21pm —
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The solar inverter market is set on a path of substantial growth, with forecasts predicting a robust Compound Annual Growth Rate (CAGR) of 6% leading up to 2033. By that year, the market anticipates reaching a notable valuation of USD 20,883.04 million. Noteworthy progress is expected by 2023, with a significant milestone targeting a valuation of USD 11,660.98 million, underscoring the market's upward trajectory.
String inverters, valued for their cost-effectiveness and durability,…
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Added by Latest Market Trends on August 23, 2024 at 1:11pm —
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According to Future Market Insights (FMI), the global hammer mill market is poised to reach a projected size of USD 3,389.5 million in 2023. Over the ensuing decade, from 2023 to 2033, the global sales of hammer mills are anticipated to exhibit a notable compound annual growth rate (CAGR) of 5.3%. By the year 2033, it is projected that the total market value will reach an impressive USD 5,677.3 million.
The burgeoning demand for processed food products and the rapid expansion of…
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Added by Latest Market Trends on August 22, 2024 at 12:20pm —
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The global construction anchor market is anticipated to exhibit robust growth, expanding from USD 13,869.85 million in 2024 to a projected USD 24,838.79 million by 2034, representing a compound annual growth rate (CAGR) of 6.0% over the ensuing decade. This significant market expansion underscores the anticipated upsurge in demand for construction anchors.
Market players are upgrading their product lines with a structured strategy of raising their investments in research and…
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Added by Latest Market Trends on August 22, 2024 at 12:15pm —
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Global absorbent glass mat (AGM) battery market is estimated to garner USD 18 Billion while exhibiting a 4.8% CAGR during the forecast period. The growing support from several governments is likely to fuel the market growth in the coming years. The industry is expected to secure USD 11.2 Billion in 2022.
The number of research and development by the leading manufacturer and the production of maintenance-free and non-spillage batteries with loner life is the primary factor driving the…
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Added by Latest Market Trends on August 22, 2024 at 12:05pm —
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The RFID Kanban systems market is poised for remarkable growth, with projections indicating a surge to surpass USD 8.4 billion by 2032, driven by an impressive compound annual growth rate (CAGR) of 18.1%. This upward trajectory, originating from a market size of USD 1.6 billion in 2022, underscores the transformative potential of RFID Kanban solutions in modern inventory management.
A significant catalyst fueling this expansion is the escalating demand for smart healthcare systems…
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Added by Latest Market Trends on August 22, 2024 at 11:58am —
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The automotive sunroof market is likely to hold a valuation of USD 21.09 billion by 2033. As of 2023, the market value is USD 7.42 billion. As the automobile industry grows, the automotive sunroof market is expected to expand at a CAGR of 11% from 2023 to 2033.
By the end of 2023, more than 18 billion cars will be running on the road, thanks to the post-pandemic rejuvenation of the automobile sector. With this exponential global growth, the market for automotive sunroofs is very…
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Added by Latest Market Trends on August 22, 2024 at 11:49am —
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The global testing, inspection, and certification market is poised for remarkable expansion, aiming for an impressive valuation of USD 4,18,640.80 million by 2033, supported by a consistent Compound Annual Growth Rate (CAGR) of 5.30%. As of 2023, the market stands at USD 2,49,780.10 million, as reported by our industrial automation analysts.
These vital services employ advanced analytical techniques to meticulously scrutinize the structural, chemical, and physical properties of…
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Added by Latest Market Trends on August 22, 2024 at 11:43am —
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The test and measurement equipment market is experiencing a 5.6% CAGR through 2034, with an estimated value of USD 35,684.4 million in 2024 and a projected value exceeding USD 61,534.3 million by 2034.
The demand for precise and reliable test and measurement equipment is increasing across various industries such as telecommunications, aerospace, automotive, and healthcare. This trend is driven by the need to ensure quality and performance in these sectors. The growth is also driven…
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Added by Latest Market Trends on August 22, 2024 at 11:36am —
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The tire pressure monitoring system market is anticipated to exhibit a CAGR of 6.2% through 2034. The market valuation is projected to increase from USD 3.47 billion in 2024 to USD 6.34 billion by 2034.
The tire pressure monitoring system (TPMS) market is experiencing robust growth, driven by increasing safety regulations and consumer awareness about the importance of maintaining optimal tire pressure. TPMS is designed to monitor the air pressure inside pneumatic tires and provide…
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Added by Latest Market Trends on August 22, 2024 at 11:30am —
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The global park assist system market is projected to reach a valuation of USD 595.6 Million in 2022. Demand is forecast to increase at a 14.3% CAGR during the forecast period, reaching USD 2.2 Billion by 2032. Park assist system, which is also known as advanced parking guidance system, helps the driver park with higher precision using advanced guidance technology that uses radar and ultrasonic based solutions.
The park assist system is customer centric that elevates every phase of…
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Added by Latest Market Trends on August 21, 2024 at 8:25am —
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The global night vision system (NVS) market share is expected to surpass a valuation of USD 1.276.8 Billion by 2032, with sales growing at a 13.9% CAGR over the forecast period. Increasing sales of luxury cars, along with rising awareness regarding road safety is boosting the requirement for improved night visibility range and quality. This is expected to fuel sales in the market over the forecast period.
NIR (near infrared range) technology development has intensified recently.…
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Added by Latest Market Trends on August 21, 2024 at 8:20am —
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The global automotive ADAS (Advanced Driver Assistance System) market value is expected to rise from USD 64,047.75 million in 2024 to USD 2,11,710.80 million by 2034. This estimated growth is expected to be driven by a steady CAGR of 12.7% in the automotive ADAS (Advanced Driver Assistance System) market over the next decade.
Increasing demand for automotive ADAS in compact passenger cars is catalyzing the market growth. In developed countries, ownership of luxury vehicles is rising…
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Added by Latest Market Trends on August 21, 2024 at 8:10am —
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The driver monitoring system (DMS) market is projected to grow at a steady compound annual growth rate (CAGR) of 7.5% from 2023 to 2033. The market is expected to reach a valuation of USD 9.3 billion by 2033, up from USD 4.5 billion in 2023.
The increasing demand for self-driving and semi-autonomous vehicles, including both passenger and commercial vehicles, is driving the adoption of driver monitoring system technologies. These systems utilize advanced technologies such as high-end…
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Added by Latest Market Trends on August 21, 2024 at 8:04am —
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The global automated material handling systems market is anticipated to grow at a CAGR of 9.2% over the course of the forecast period, according to the most recent study by FMI. The market is anticipated to be worth USD 34 billion in 2023. The value is expected to hit USD 81.8 billion by 2033.
The global industry for these machines is growing rapidly in part because they offer increased efficiency and lower labor costs when compared with traditional methods of transporting goods…
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Added by Latest Market Trends on August 21, 2024 at 7:58am —
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The industrial and workplace safety market is on track for explosive growth, with a projected valuation of USD 11.1 billion by 2033. This expansion reflects a steady Compound Annual Growth Rate (CAGR) of 6%, signifying a significant advancement in global safety standards. In 2023, the market achieved a notable valuation of USD 6.2 billion, marking the beginning of this promising trajectory.
A key driver of this growth is the presence detecting sensor market. Stringent industrial…
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Added by Latest Market Trends on August 21, 2024 at 7:52am —
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