. की सभी पोस्ट anany joshi . दिल्ली , भारत

Publications

Surging Infrastructural Development Fueling APAC Compressor Market Growth

The Asia-Pacific (APAC) compressor market attained a value of The Asia-Pacific (APAC) compressor market attained a value of $19.9 billion in 2019, and it is predicted to advance at a CAGR of 3.2% between 2020 and 2030. Furthermore, the market will generate a revenue of $25.7 billion by 2030. The factors driving the market expansion are the expansion of the heating, ventilation, and air conditioning (HVAC) and automotive industries and the surging investments being made in infrastructural development and gas pipeline projects in the region.9.9 billion in 2019, and it is predicted to advance at a CAGR of 3.2% between 2020 and 2030. Furthermore, the market will generate a revenue of $25.7 billion by 2030. The factors driving the market expansion are the expansion of the heating, ventilation, and air conditioning (HVAC) and automotive industries and the surging investments being made in infrastructural development and gas pipeline projects in the region.

The soaring infrastructure spending of several APAC countries such as India and China is fueling the growth of the market. For instance, China currently has many infrastructural projects in the pipeline, with the transportation sector being one of the major contributors. The country announced the launch of urban rail projects worth $43.3 billion (CNY 298 billion) in Shanghai in December 2018. Similarly, the Indian government has recently announced its decision of building 100 smart cities and renovating other 500 cities.

Subsequently, the government announced a budget of $13.9 billion (INR 980 billion) for developing 100 cities and $6.8 billion (INR 480 billion) for renovating 500 others. The rapid expansion of the automotive industry is also propelling the advancement of the APAC compressor market. This is because compressors are increasingly being used in several applications throughout the automobile manufacturing process. Compressors are majorly used in tire inflation, engine construction, car painting, and air-conditioning systems in the automotive industry.

As per reports, the automotive industry registered a growth of nearly 35%, in terms of vehicle sales, from 2012 to 2019 in China and around 22% in vehicle sales in India from 2012 to 2018. Depending on type, the APAC compressor market is bifurcated into positive displacement and dynamic. Between these, the positive displacement bifurcation held the larger share in the market in 2019, due to the extensive requirement for rotary type of compressors.

Read More: https://www.psmarketresearch.com/market-analysis/apac-compressor-market

anany joshi

Increasing Infrastructure Development Activities Driving Saudi Arabian Chiller Market

The Saudi Arabian chiller market value stood at $252.0 million in 2018, and it is predicted to surge to $291.0 million by 2024. According to the estimates of the market research company, P&S Intelligence, the market will progress at a CAGR of 2.7% from 2019 to 2024 (forecast period). The market is being propelled by the increasing number of infrastructure and construction projects and burgeoning need for chillers in the food and beverage industry in the country.

With the implementation of various government initiatives, construction and infrastructural development activities are soaring in Saudi Arabia. This is pushing up the requirement for cooling systems, especially chillers, at supermarkets, buildings, and metro stations. For example, railway projects, such as the Madinah High-Speed Railway, Makkah Metro Rail, Riyadh Dammam High-Speed Rail, and Eastern Province Municipality-Dammam Metro, are predicted to begin in the coming years. Since chillers are extensively used at metro stations and railway stations, these projects will augment their sales in the years to come.

Get More Insights: https://www.psmarketresearch.com/market-analysis/saudi-arabia-chiller-market

Besides, the booming tourism sector is also creating lucrative growth opportunities for the players operating in the Saudi Arabian chiller market. The country is actively focusing on improving the tourism sector in order to diversify its economy and reduce its economic reliance on oil and gas, under the Saudi Arabian Vision 2030 economic diversification plan. As per the World Travel and Tourism Council, the tourism industry in the country accounted for as much as 9.4% of the total gross domestic product (GDP) in 2017.

Additionally, the country is witnessing a massive rise in domestic tourism and number of international visitors. For example, inbound passengers spent nearly $26 billion in 2017, while the expenditure of domestic tourists stood at $13 billion in 2017. The Saudi Arabian chiller market is classified, on the basis of type, into screw, centrifugal, scroll, reciprocating, and absorption chillers. Out of these, the centrifugal chiller category is predicted to demonstrate faster growth in the market in the coming years.

anany joshi

LED Lighting Market To Generate $152,442.3 Million Revenue by 2030

A number of factors such as the growing focus on modernization of infrastructure, declining prices of light-emitting diodes (LEDs), and increasing adoption of energy-efficient lighting solutions are expected to boost the LED lighting market growth at a CAGR of 10.7% during the forecast period (2020–2030). According to P&S Intelligence, the market size is expected to reach $152,442.3 million by 2030 from $55,201.9 million in 2020. Moreover, the market is witnessing a trend of surging adoption of smart LED lighting solutions.

The primary factor improving the LED lighting market growth prospects is the rapid development of infrastructure. As governments of various nations are focusing on the transformation of infrastructure, the need for LED lighting solutions has considerably amplified in recent years. Furthermore, the governments are investing heavily in smart city projects. For example, the Indian government has declared its plans to modernize 100 cities across the nation into smart cities by 2030 and approved about $15 billion for this project, which will drive the demand for LED lights. Likewise, Barcelona, Spain, has installed more than 3,000 LED-based smart streetlights.

The product type segment of the LED lighting market is categorized into luminaire and lamp. Of these, the luminaire category accounted for a larger market share in 2020, and it is expected to keep dominating the industry during the forecast period as well, with a higher CAGR. This can be ascribed to the high demand for LED luminaires from new construction projects in the construction industry, along with the growing focus of governments on the implementation of LED solutions, in several countries such as India, China, and the U.A.E.

Moreover, based on installation type, the LED lighting market is bifurcated into new and retrofit. Between the two, the retrofit category is projected to witness faster growth during the forecast period. This can be attributed to the surging replacement of sodium-vapor and incandescent lamps with LEDs in various nations, including the U.S., China, India, the U.A.E., Japan, and South Korea. Basically, with the phasing out of sodium-vapor and incandescent lamps in these economies, the need for LED lamps for retrofitting is rising, which, in turn, is boosting the market growth in this category.

Read More: https://www.psmarketresearch.com/market-analysis/led-lighting-market

के सभी प्रकाशन anany joshi . दिल्ली , भारत

Publications

Surging Infrastructural Development Fueling APAC Compressor Market Growth

Increasing Infrastructure Development Activities Driving Saudi Arabian Chiller Market

LED Lighting Market To Generate $152,442.3 Million Revenue by 2030