Situated on the eastern edge of the Arabian Desert, the U.A.E. is no stranger to blistering-hot summers and warm winters. Therefore, the need for cooling apparatus, including air conditioners and chillers, has always been high here. Moreover, since the 1950s, the booming oil trade, which led to the country’s economic boom, has been bringing in immigrants from around the world. As a result, infrastructure development continues to progress rapidly, being reflected in the rising number of hotels, houses, shopping malls, and other facilities.
P&S Intelligence credits this construction boom while forecasting that the U.A.E. chiller market will grow from $134.7 million in 2018 to $186.4 million by 2024, at a 5.9% CAGR between 2019 and 2024 (forecast period). Chillers are a popular choice of cooling systems in large settings, such as factories, hotels, office complexes, and shopping malls. In 2019, Dubai alone had over 3,000 under-construction projects valued at around $245 million, with many more under various stages of implementation. Access Report Summary - U.A.E. Chiller Market Segmentation Analysis Report One of the major projects underway in the city is the Dubai Metro Red Line extension, which is being carried out in part under the preparations for the Dubai Expo to be held this year. Chillers are expected to be procured in substantial numbers for the seven stations that are to be built on the extended line. Another major sector in the country that is witnessing rampant construction is hospitality. On account of its rich Arabian culture, lavish lifestyle, scenic beauty, and themed attractions, the arrival of tourists in Abu Dhabi and Dubai is increasing constantly. As per to the World Travel and Tourism Council, the tourism and hospitality sector generated 11.3% of the U.A.E.’s gross domestic product (GDP) in 2017. Moreover, government initiatives, including the Sharjah Tourism Vision 2021, Dubai Tourism Strategy 2020, and Ajman Tourism Plan for Tourism 2015-2021, were launched to give this sector a further boost. By 2025, Ras Al Khaimah is expected to receive 3 million tourists every year, for which hotels and resorts are being rapidly constructed. On account of all such factors, the country had 233 hotels, equaling 63,734 rooms, under construction in November 2018.
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The global mobile collaborative robots market was valued at $543.3 million in 2019 and is predicted to progress at a CAGR of 26.3% between 2020 and 2030. According to the forecast of P&S Intelligence, a market research firm based in India, the market will generate a revenue of $6,800 million by 2030. The burgeoning requirement for industrial automation solutions and the growing usage of mobile robots in the automotive industry are the main factors driving the advancement of the market.
The rising requirement for industrial automation solutions is a huge factor responsible for the expansion of the market. The various complexities associated with production processes, the ballooning labor costs, the lack of availability of labor, and the increasing requirement for higher industrial productivity are fueling the adoption of industrial automation solutions across the globe. Additionally, organizations operating in the developing countries such as India and China are extensively using automation solutions for offsetting labor shortage and improving their productivity. The mushrooming usage of mobile cobots in the automotive industry is another important factor driving the progress of the mobile collaborative robots market. Due to their various advantages such as their ability to provide standardization in manufacturing processes and their ability to improve the industrial output, these cobots are increasingly being used in automotive manufacturing plants. Moreover, their ability to handle multiple tasks such as assembling, material handling, and welding is making them highly sought after among manufacturers. Furthermore, the rising requirement for automation and the existence of several automotive original equipment manufacturers (OEMs) in countries such as the U.S., South Korea, China, and Germany are propelling the sales of cobots around the world. Depending on offering, the mobile collaborative robots market is classified into services, software, and hardware. Out of these, the hardware category recorded the highest growth in the market in the past years, due to the extensive usage of these robots by automobile manufacturers. Countries such as India, China, and Brazil are currently focusing on the establishment of smart cities to preserve energy and improve the living standard of their citizens. As smart cities aim to reduce energy consumption, governments of such countries are increasingly integrating sensors in their lighting systems, which have exceptional energy efficiency. Lighting systems using sensors can automatically switch off in the presence of sufficient natural light, thereby conserving electricity. Thus, the surging construction of smart cities in these developing countries will boost the adoption of light sensors in the foreseeable future.
Moreover, the increasing use of consumer electronics will also drive the light sensor market at a CAGR of 9.5% during the forecast period (2020–2030). According to P&S Intelligence, the market generated a revenue of $1,456.2 million in 2019. Automatic screen brightness control and several other features in consumer electronics, such as smartphones and tablets, require light sensors for sensing lights. Thus, the rising uptake of smartphones, primarily on account of the booming youth population, will drive the demand for light sensors in the upcoming years. In addition to the consumer electronics sector, the automotive, healthcare, entertainment, agriculture, aerospace and defense, and manufacturing industries are also creating a huge requirement for light sensors worldwide. Companies operating in these industries are using light sensors being manufactured by ams AG, Broadcom Inc., Panasonic Corporation, Vishay Intertechnology Inc., Everlight Electronics Co. Ltd., STMicroelectronics N.V., Maxim Integrated Products Inc., Sharp Corporation, ROHM Co. Ltd., and Texas Instruments Incorporated. Manufacturing facilities of these end-use industries either use a combination of light sensors or a discrete light sensor in their end products. The function segment of the light sensor market is classified into ambient light sensing, gesture recognition, proximity detection, infrared radiation (IR) detection, and red green blue (RGB) color sensing. Among these, the ambient sensing category is expected to hold the largest market share during the forecast years, due to the rising integration of light sensors in smartphones, especially for the automatic display control feature. Whereas, the proximity detection category is projected to demonstrate the fastest growth in the forecast years, due to the increasing adoption of light sensors in the healthcare and automotive industries. The construction sector of India, the U.S., Qatar, Saudi Arabia, and the U.A.E. is witnessing significant growth due to the soaring number of tourists and upcoming events, such as the FIFA World Cup 2022 and Dubai Expo 2020. To accommodate the rising number of tourists, sportspersons, and officials from around the world, these countries are focusing on the construction of hotels, restaurants, shopping complexes, airports, and skyscrapers at war footing. These facilities require heating, ventilation, and air conditioning (HVAC) equipment to offer comfort to customers.
Moreover, the surging number of government initiatives to replace old HVAC systems with energy-efficient variants will aid the HVAC market in exhibiting a CAGR of 4.8% during 2020–2030. The market was valued at $240.8 billion in 2019, and it is expected to generate $358.1 billion in 2030. For instance, the Ministry of Power, under the government of India, introduced the 'Eco-Niwas Samhita 2018', an Energy Conservation Building Code for Residential Buildings (ECBC-R), in December 2018. The code aims to limit heat loss and gain in residential and mixed-land-use buildings built on a plot area of ≥500 m2. Get More Insights: HVAC Market Revenue Estimation and Growth Forecast Report Additionally, even customers are showing a high preference for smart HVAC systems due to the mounting awareness about energy conservation and sustainable development. These solutions consist of intelligent thermostats, better controls, and advanced monitoring systems. In comparison to conventional HVAC models, the smart variants offer better temperature variability, produce lower noise, and generate cleaner air. Furthermore, these systems allow users to monitor their performance in real-time, thus making predictive maintenance possible, before any actual malfunctioning occurs. Heating equipment, such as furnaces, unitary heaters, boilers, and heat pumps, and air conditioning equipment, such as chillers, room ACs, ducted split/packaged units, and variable refrigerant flow (VRF) systems, are being installed in residential, commercial, and industrial facilities across the world. Additionally, end users are installing humidifiers/dehumidifiers, ventilation fans, air cleaners, and air handling and fan coil units for ventilation purposes. In recent years, commercial structures have emerged as the largest user of such equipment due to the flourishing hospitality sector and soaring number of buildings and offices worldwide. Surging Need for Energy Efficient Lighting Devices Driving Hospital Lighting System Market Growth3/14/2022 The global hospital lighting system market revenue stood at $5,328.1 million in 2017 and it is predicted to surge to $7,755.4 million by 2023. According to the estimates of the market research company, P&S Intelligence, the market will demonstrate a CAGR of 6.4% from 2018 to 2023 (forecast period). The market is being driven by the surging number of hospitals and the soaring requirement for energy efficient lighting systems, on account of the increasing concerns being raised over the escalating greenhouse gas (GHG) emissions all over the world.
Additionally, the lighting systems being used in hospitals are rapidly incorporating both artificial lights, such as lamps and light fixtures in corridors and lobbies and natural daylight, which is resulting in 45–70% light savings, which is, in turn, improving the energy efficiency of these lighting systems. Furthermore, LED lighting has several advantages over conventional lighting solutions, such as low power consumption, less maintenance requirements, design flexibility, safety, and long lifespan. Because of these benefits, these lighting systems are being increasingly used in healthcare settings, thereby driving the expansion of the hospital lighting system market. Get More Insights: Hospital Lighting System Market Revenue Estimation and Growth Forecast Report Moreover, many medical care providers are taking measures in order to develop the infrastructure in hospitals in order to meet the soaring requirement for technologically advanced facilities, owing to the expanding patient pool. As energy efficient lighting systems reduce the stress burden on visitors, mitigate the chances of errors, and improve the interior environment of hospitals for both patients and staff, they are being increasingly incorporated in healthcare settings all over the world. Depending on product, the hospital lighting system market is divided into recessed, surface mounted, hanging, wall mounted, and others, such as step lights, emergency lights, and exit lights. Surface mounted systems are the most commonly used lighting systems, as they enable optimal light distribution in installed areas. However, in the coming years, the demand for recessed lighting systems is predicted to rise rapidly, mainly because of the soaring use of LED-based recessed troffers in imaging and diagnostic rooms and LED-based recessed downlights in operating rooms. Nowadays, flexible light-emitting diode (LED) interactive displays are being preferred over interactive LCDs as they offer high-resolution and a better picture quality than the latter. Flexible LED displays capture picture motions in multiple configurations and several areas, from a wide range of gadgets, such as personal computers (PCs), link boxes, and cameras. Unlike LCDs, flexible LED displays are thin, owing to which they provide better aesthetic appeal to the viewer, thereby offering better marketing benefits to end users.
In the coming years, the increasing focus of education, retail, sports, entertainment, industrial, transportation, hospitality and healthcare, corporate and government, military and defense, and banking, financial services, and insurance (BFSI) firms on resource saving will also aid the interactive display market in progressing at a CAGR of 10.4% during 2019–2024. According to P&S Intelligence, the market was valued at $9.2 billion in 2018, and it is expected to generate $16.4 billion in 2024. The usage of interactive displays in retail environments, hotels, conference centers, schools, museums, and sports events helps in improving the turnaround time and offering ease of access. Browse detailed report - Interactive Display Market Analysis and Demand Forecast Report In recent years, the education sector has emerged as the most-prominent user of interactive displays due to the soaring number of government initiatives supporting smart learning programs in academic institutions. For example, the 'Education 2020' strategy of the Ministry of Education of the U.A.E. aims to incorporate digital experiences in the educational system of the country. Taking inspiration from such strategies, local governments are consistently focusing on the creation of an academic environment that combines visual aids and interactive teaching methods and products to enhance the learning experience for students, as well as teachers. Currently, companies such as LG Electronics Inc., ELO Touch Solutions Inc., NEC Corporation, Koninklijke Philips N.V., Panasonic Corporation, Seiko Epson Corporation, Sharp Corporation, and Crystal Display Systems Ltd. are offering interactive kiosks, interactive whiteboards, interactive tables, interactive monitors, interactive video walls, and interactive flat panels. At present, interactive kiosks are being preferred over other displays due to the burgeoning demand for self-service terminals, flourishing retail industry, and mounting focus of end users on an enhanced customer experience. Among the different factors driving the requirement for tunnel automation solutions are the strict regulations implemented by governments worldwide for road and railroad safety. In addition, the rising number of road accidents is propelling the requirement for tunnel automation solutions. Road safety is one of the major concerns globally, which is why governments are investing in innovative technologies for enhancing it. Tunnel automation offers improved security, better lighting, surveillance, air conditioning, and many other functionalities that can help prevent accidents.
Another major factor responsible for the growth of the tunnel automation market is the advancements in technologies, such as the internet of things (IoT), data analytics, and cloud storage. These solutions make it easier for utilities and public infrastructure firms to manage the different electronic and electrical aspects of tunnel automation over controlling them manually. Through these technologies, data can be transferred or shared between communication systems and other devices, such as lighting systems, thermostats, and sensors. The information received can be utilized to enhance the efficiency of the various electrical and electronic systems integrated into tunnels. As a result, both road and rail tunnels are rapidly being integrated with automated systems. Of these, in the coming years, the electrical and electronic systems of a larger number of railway tunnels than highway and roadway tunnels will be automated. According to P&S Intelligence, it would be due to the modernization of railway networks across the world. Several railway tunnels are built under the seabed or through mountains, stretching for scores of kilometers, making lights and HVAC systems a necessity. Ventilation is one of the most-significant components inside any tunnel, and its manual operation can be costly and time taking. Automated HVAC systems control their own operations as per the conditions inside. This reduces the requirement for humans to constantly change HVAC settings and also brings down the energy consumption, which leads to lower operational expenses for utility and infrastructure companies. In addition, governments are implementing strict rules about installing air conditioning and ventilation systems in tunnels, which are rapidly being integrated with automation technology. FACTORS SUCH AS THE EXPANDING GAS PIPELINE NETWORK, FLOURISHING AUTOMOTIVE INDUSTRY, AND INCREASING INSTALLATION OF HEATING, VENTILATION, AND AIR CONDITIONING (HVAC) SYSTEM ARE EXPECTED TO STEER THE COMPRESSOR MARKET AT A CAGR OF 3.1% DURING THE FORECAST PERIOD (2020–2030). ACCORDING TO P&S INTELLIGENCE, THE MARKET WAS VALUED AT $39.9 BILLION IN 2019 AND IT IS PROJECTED TO REACH $48.5 BILLION REVENUE BY 2030. MOREOVER, THE MARKET IS WITNESSING A TREND OF INCREASING PREFERENCE FOR VARIABLE-FREQUENCY DRIVES (VFDS) OVER GAS TURBINES, OWING TO IMPROVED PRODUCTIVITY, REDUCED NOISE, AND ACCURATE SPEED AND PROCESS CONTROL EXHIBITED BY THEM.
THE RISING INSTALLATION OF HVAC EQUIPMENT, ON ACCOUNT OF THE INCREASING CONSTRUCTION OF COMMERCIAL AND RESIDENTIAL BUILDINGS AND THE MOUNTING NUMBER OF SMART HOMES, IS ONE OF THE MAJOR GROWTH DRIVERS FOR THE MARKET. ADDITIONALLY, THE SOARING GLOBAL TEMPERATURE, ON ACCOUNT OF THE EXCESSIVE BURNING OF FOSSIL FUELS AND EXTENSIVE USE OF CHLOROFLUOROCARBON (CFC), WILL ALSO BOOST THE DEMAND FOR HVAC SYSTEMS WORLDWIDE. MOREOVER, THE RAPID DEVELOPMENT OF ENERGY-EFFICIENT HVAC SYSTEMS IS ALSO CREATING A HUGE DEMAND FOR COMPRESSORS. BROWSE DETAILED REPORT - COMPRESSOR MARKET ANALYSIS AND DEMAND FORECAST REPORT BESIDES, THE EXPANDING AUTOMOBILE SECTOR, OWING TO THE GROWING DISPOSABLE INCOME OF PEOPLE, ESCALATING DEMAND FOR ELECTRIC CARS, AND INCREASING TECHNOLOGICAL INNOVATIONS, IS ALSO EXPECTED TO CONTRIBUTE TO THE COMPRESSOR MARKET GROWTH. FOR INSTANCE, THE INTERNATIONAL ENERGY AGENCY (IEA) ESTIMATED THAT 2.3 MILLION ELECTRIC CARS WERE SOLD ACROSS THE WORLD IN 2020. FURTHERMORE, AS PER THE IEA, THE GLOBAL STOCK OF BATTERY ELECTRIC VEHICLE (BEV) CARS WILL REACH 79,975,992 UNITS BY 2030. AUTOMAKERS USE COMPRESSORS FOR ENGINE CONSTRUCTION, TIRE INFLATION, CAR PAINTING, AND AIR CONDITIONING SYSTEMS. THE LUBRICATION TYPE SEGMENT OF THE COMPRESSOR MARKET IS BIFURCATED INTO OIL-FREE AND OIL FLOODED. OF THESE, THE OIL-FREE CATEGORY IS EXPECTED TO WITNESS FASTER GROWTH DURING THE FORECAST PERIOD, OWING TO THE EXTENSIVE REQUIREMENT FOR UNCONTAMINATED AIR IN THE HEALTHCARE AND FOOD AND BEVERAGE INDUSTRIES TO ENSURE SAFETY DURING THE MANUFACTURING PROCESS AND OF END CUSTOMERS. AS PURE AIR IS QUINTESSENTIAL FOR SUCH INDUSTRIES, EVEN THE TINIEST DROP OF OIL CAN CAUSE PRODUCT WASTAGE, RECALL, AND DAMAGE OR EVEN HAMPER THE PRODUCTION EQUIPMENT, OWING TO WHICH THEY ARE DEPLOYING OIL-FREE COMPRESSORS. |
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September 2022
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