Global robotic automation Smartphone manufacturing market Business Revenue, Future Scope, Market Trends, Key Players and Forecast To 2027

 Industry Insight

While 2020 is being an extremely eventful year for robotic process automation for Smartphone manufacturing due to COVID-19 breakthrough, the global robotic process automation for Smartphone manufacturing market 2020 is showing some positive instincts, when studied by Market Research Future. As per COVID-19 impact analysis, the market has the potential to show immense growth, which is recorded at a rate of ~30.5% and is capable of reaching a valuation of USD 3992.6 million by 2027. The growth period has been estimated from the years 2020 to 2027. The earlier valuation accumulated by the market in 2017 was USD 807.9 million.

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Top Driving Factors

The unforeseen challenges that occurred by the ongoing COVID-19 have influenced effectively to exhibit the long term growth projections on robotic automation Smartphone manufacturing market size. Thus, the study has identified a better growth perspective of the market with the help of some of the impacting factors prevailing is thus working in the factor to mark its future growth at a better pace.

The varying consumer interest has built a high need for deployment of technically advanced automation processes in the manufacturing and production process of the industry. A flexible production system with a high-end IT-enabled process offers a fast and safe production process, which is an efficient, flexible, reliable, and cost-effective solution. These factors have been necessarily considered as influential and responsible for the growth of the market.

In fact, economic pressure has also affected the performance and growth of an industry, which is also one of the factors behind utilizing the automation process in Samsung manufacturing. The significant advantage of automation over conventional manufacturing processes include upgrading in quality and robustness of a process or product, high throughput or productivity, and reduction of direct human labor cost and expenses. This is yet another primary reason for the high growth of the robotic automation Smartphone manufacturing market.

On the contrary, the factor of the scarcity of investment by small & medium size industry and less accessibility of trained professional in developing economies is showing signs of market growth been hindered to some extent in the forecast period.

Segmentation of Market: Robotic Automation Smartphone Manufacturing

The global robotic automation Smartphone manufacturing market has further been segmented along the following lines:

In terms of the robot type segment, the market has included Cartesian, SCARA, 6-axis robot, articulated, redundant, delta, dual-arm, and parallel. Among these, the 6-axis robot segment contributed as the largest market share in 2017, with a market value of USD 168.7 million, and now it might register the highest CAGR during the forecast period. Also, SCARA is the best suited for high-speed assembly, knitting, packaging, and other material handling applications.

In terms of component segment, the market has included Motor, generators, motor controls, automation equipment, and power transmission equipment

In terms of organization segment, the market has included Small & medium enterprises and large enterprises.

Regional Framework

The study takes a closer look at critical regional dynamics and the trends that will create lucrative avenues in emerging regional markets for digital process automation. The geographical overview of the global robotic automation Smartphone manufacturing market has been conducted in four major regions, including North America, Asia Pacific, Europe, and the rest of the world. 

Owing to the mounting development in the IT industry, North America is likely to lead the robotic process automation for the Smartphone manufacturing market in the forecast period. North America is one of the leading regions across the world in terms of market share. The market for robotic process automation for Smartphone manufacturing in this region has a huge demand owing to high growth in the IT industry and mounting adoption of smartphones by consumers.

Asia-Pacific has also successfully taken second place in the Smartphone manufacturing market in robotic process automation as it is expected to expand at a faster pace during the forecast era. It was owing to the enormous demand for robotic process automation for the manufacturing of Smartphones, the robotic process automation for the Smartphone industry is experiencing high growth. Asia Pacific is likely to observe the highest CAGR in the coming years owing to escalating demand for Smartphones, soaring demand for outsourcing services, and leading markets such as South Korea, China, and Japan.

The robotic process automation for the Smartphone manufacturing market in the European region is likely to witness rapid growth in the forthcoming period.

Top Market Players

The foremost market players effective in the global market are identified Seiko Epson Corporation, ABB Ltd, KUKA Robotics, Yaskawa Electric Corporation, Nice Ltd, Denso Wave Inc., Fanuc Corporation, Pegasystems Inc., Nachi Robotic System Inc., and Redwood Software.

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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https://www.spoke.com/topics/solar-panels-market-outlook-strategies-industry-analysis-future-scope-key-drivers-forecast-to-2027-6093a6ef30f3613ff2000366

 

Global well logging tools market Outlook and Future Scope Analysis and Forecast Till 2027

 Global Well Logging Tools Market Research Report: Information by Technology (Sickline and E-Line), Well type (Land Based and Offshore), End-Use (Water and Wastewater, Oil and Gas and Metal and Mining) and Region - Forecast till 2027

Industry Insight

Global well logging tools market 2020 plans to register a high growth of around 4.50% CAGR in the next six years. This information has been gathered in the latest study conducted by Market Research Future. The six years indicated forecast period, which is 2020-2027.

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Top Impacting Factors

The MRFR includes the latest coverage of the impact of COVID-19 on the well logging tools industry. The global well logging tools market is majorly driven by the mounting need for deep water, offshore oil and gas production, and exploration activities. Along with this, the escalating investments by rising economies in offshore exploration play an imperative role in driving the well logging tools market.

In fact, the improved petrochemical consumption across diverse industries considering paints and coatings, transportation, energy, textiles, and plastic is likely to swell oil exploration activities, which drives the well logging tools during the forecast period. Technological advancements and secure financial backups have surged ultra-deep and in-depth oil exploration, which leads to motivating the well logging tools market.

To add some more factors such as the depletion of onshore oil and gas resources has also led to surging oil and gas exploration of offshore oil and gas resources, which plays a pivotal role in driving the well logging tools market. The rising demands for raised efficiency at offshore, unconventional onshore oil and gas exploration centers afford new opportunities to players operating in well logging tools market.

Furthermore, the rise in infrastructure spending, owing to positive economic growth, is also likely to oblige overall well-logging tools market growth. Also, the rising demand for the use of well logging tools in various applications such as water injection wells, production wells, and observation wells is highly likely to boost the demand for well logging tools across the globe. With this, the new demand for well logging tools owing to machine upgrade and the shifting focus of mining corporations toward attaining maximum productivity is proposed to offer profitable business opportunities to the well logging tools market in the near future.

Segmentation of Market: Well Logging Tools

The global well logging tools market has been studied for the segments of technology and well type.

In terms of well type segment, the market has included land-based and offshore. Among these, the onshore segment has been dominating the global well logging tools market. Thus, the offshore segment is likely to expand at a faster rate owing to mounting exploration activities offshore.

In terms of the technology segment, the well logging tools market has included e-line and sick lines.

In terms of end-use segment, the well logging tools market has included oil and gas, metal and mining, and water and wastewater.

Regional Outlook

Region-wise, the well logging tools market covers growth opportunities and latest trends across the Asia Pacific, Europe, Middle East, and Africa, North America, and Europe.

MRFR has analyzed that North America will have the upper hand in the logging tools market over the predicted years. This is owing to the existence of top market players in this region that are opening doors for higher exploration activities in offshore and onshore areas. These favorable government regulations in this region are projected to proliferate the growth of the logging tools market here. The exploitation of shale resources in the US has augmented the demand for rigs of elevated specifications to facilitate drilling long horizontal wells with well logging tools.

The logging tools market in the region of APAC is likely to have an encouraging growth over the predicted years. In the APAC region, approximately 50 oil and gas fields having collective resources in Southeast Asia is likely to get approval for development between the years of 2019-2020.

Europe and MEA regions are also likely to witness enhanced growth of the well logging tool market owing to the high demand for exploration and boring along with developments in the mining sector. This, in turn, is probable to hasten the growth of the well logging tool market over the forecast period.

Top Players List

The top players profiled in the well logging tools market include BÖHLER Edelstahl GmbH & Co KG, ANTARES Datensysteme GmbH, Gowell International LLC, Hunting Energy Services, TSL Technology Ltd, GE Company, Weatherford, and Royal Dutch Shell Halliburton.

About Market Research Future

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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Gas Insulated Transformer Market Key Drivers, Size, Share, Trends, Growth, Future Scope Analysis and Forecast To 2027

 Gas Insulated Transformer Market Research Report Information by Type (Instrument Transformer), Voltage Rating (Medium, High, Extra High), End-Use (Utility, Industrial, Commercial), Installation, Type of Cooling, and Regions-Global Forecast till 2027

Market Scenario

Market research Future (MRFR), in its latest report on the global gas insulated transformer market 2020 reveals the impact COVID 19 disease outbreak on it for the years to come. As per MRFR analysis, the gas insulated transformer market is likely to rise at 5.23% CAGR across the study period.

Non-explosive and non-flammable gas used in gas insulated transformer eliminates the need for regular checks of oil. This is expected to boost the expansion of the market through the assessment period. The rise in the awareness of environmental concerns is boosting the demand for the growth of gas insulated transformers market across the review period. The rise in the utility of medium voltage and high voltage applications, such as hydroelectric power plant, thermal power plant, underground shopping centers, and chemical plants can cause the expansion of the market across the study period.

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Segmented Study

The Global gas insulated transformer market segment study is based on installation, voltage level, type, end-use, and type of cooling.

The voltage level based insulated transformer market segments are medium voltage, extra high voltage, and high voltage. The Extra high voltage segment can gain high traction and lead the market across the study period. The segment is expected to generate considerable revenue in the study period due to the increase in the focus on renewable energy solutions.

The installation based segments of the market are outdoor and indoor Installation. The Indoor segment can lead the gas insulated transformer market, as the urban population grows and the need for eco- friendly solutions for the nature is required.

The type based Gas insulated transformers segments are gas directed air forced cooling, cooling, gas directed water forced cooling, and gas directed air natural cooling among others. The high utility of gas insulator transformer as gas directed water forced cooling can impel the expansion of the market across the study period.

The end-user based Gas insulated transformer market segments are utility, commercial, and industrial. The Industrial segment, followed by the commercial segments, can rise at a high pace in the years to come. The gas insulated transformer market can rise at a high pace in the years to come due to rise in infrastructure development and growing government initiatives.

Detailed Regional Analysis

In Asia Pacific, the expansion of the gas insulated transformer market can rise at the highest pace across the study period. The increase in need for effective renewable energy solutions to meet surge in energy consumption can promote the expansion of the world market across the study period through the review period. In Europe, the gas insulated transformer market can rise at a decent growth rate through the review period.  The increase in adoption of renewable energy, along with rise in the integration of power system can impel the expansion of the gas insulated market across the study period. In North America, the increase in need for transmission and distribution purposes offered by reliable and safe power system of gas insulated transformers can bolster the rise of the world market in the years to come. The pressing demand for reliable power can result in the rise of the gas insulated transformer market in the study period.

Key Players

MRFR released a list of key players functioning in the worldwide gas insulated transformer market. They are; Meidensha Corporation (Japan), ABB Ltd. (Switzerland), Mitsubishi Electric Corporation (Japan), Siemens AG(Germany), General Electric (US), Toshiba Corporation (Japan), Takaoka Toko Co., Ltd (Japan), Arteche (Spain), Fuji Electric co., Ltd. (Japan), and Chint Group (China) among others.

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Passenger Information System Market Size, Share, Growth Rate, Trends, Analysis, Future Scope, Forecast To 2027

 Market Overview

In 2019, Global Passenger Information System Market was valued at USD 14,554.48 Million; it is expected to reach USD 32,714.63 Million by the end of 2027.

A passenger information system is an automated system designed and deployed by public modes of transport, including roadways, airways, and railways, to display information about the departure and arrival of a transport vehicle scheduled on a particular time interval. The technology advancement in the transport sector drives the market for passenger information systems, which are available in several forms such as LEDs, display boards, information announcement systems, or passenger information mobile applications. Furthermore, the increasing concern of security at public transports and increasing urbanization is also expected to fuel the growth of the global passenger information system market in the next few years.

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Segmental Analysis

The global passenger information system market has been segmented based on solution, component, services, transportation mode, and region.

By solution, the passenger information system market has been segmented into information announcement system, display system, emergency communication system, infotainment system, passenger information mobile application and others. In 2018, the display systems segment held the largest share of the market.

By component, the passenger information system market is segmented into multimedia display, networking devices, communication devices, sensors, and others. In 2018, the networking devices segment accounted for the largest share of the global market.

By services, the passenger information system market has been classified into cloud services, professional services, and integration services. In 2018, the integration services segment accounted for the largest share of the global market.

Based on transportation mode, the passenger information system market has been classified into roadways, railways, and airways. In 2018, the railways segment held the largest share of the global market.

Competitive Analysis

The key players operating in the global passenger information system market include General Electric (US), Huawei technologies co. Ltd (China), Cubic Corporation (US), Siemens AG (Germany), Advantech Corporation (Taiwan), Medha Servo Drives Pvt. Ltd. (India), Neusoft Corporation (China), INFAX, INC. (US), Passio Technologies, Inc. (US), DTI Group (Australia), ALSTOM (France), CAF (EGYPT), Construcciones Y Auxiliar De Ferrocarriles, S.A. (Spain), Hitachi, LTD. (Japan), and Stadler Rail AG (Switzerland).

Regional Analysis

The geographic analysis of the passenger information system market has been conducted for North America, Europe, Asia-Pacific, and the Middle East & Africa, and South America.

North America is the major region in terms of market share in the passenger information system market. The regional market is characterized by the presence of many passenger information system providers that offer their services at a local and international level. The key driving factors for the growth of the passenger information system market in the region include rapid urbanization, the high adoption rate of IoT, and the quick adoption of innovative technologies to improve efficiency. The North American countries covered in this study are the US, Canada, and Mexico.

The US is a leading country in North America, holding the largest market share. The market in the country is mature. The key players, such as Advantech Corporation and Cubic Transportation Systems, which are based in the US, are investing in the development of passenger information systems. The passenger information system is being deployed on a large scale in the US for more than a decade. Public transportation poses a high risk of safety due to its massive reach and public nature of the service. The transit companies must ensure the safety and security of the travelers while traveling as well as their facilities, including bus stops, transit stations, and halts. Thus, public information systems, voice announcements, and bus signs are witnessing significant demand in the country.

For this study, Asia-Pacific has been categorized into—China, Japan, India, and the rest of Asia-Pacific. The region is expected to be the fastest-growing market from 2018 to 2026. This is attributed to the presence of active players in China, Japan, South Korea, India, and Hong Kong. The companies in Asia-Pacific are Huawei Technologies Co. Ltd (China), SAMSUNG (South Korea), Komachine.com, Co. (South Korea), and Mitsubishi Electric Corporation (Japan). Other key industry players operating in this market are focused on expanding their presence in the regional market by collaborating with telecommunication network providers and transportation operators. China is expected to be a leading country in the regional market.

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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https://www.articletrunk.com/earthing-equipment-market-covid-19-impact-research-report-forecast-till-2027/

Solar Panels Market Outlook, Strategies, Industry Analysis, Future Scope, Key Drivers Forecast To 2027

 Solar Panels Market By Technology (Solar PV, CSP), By Module Type (Crystalline, Thin Film, Parabolic Troughs, Linear Fresnel Reflectors, Power Towers, Parabolic Dishes) By Application (Residential, Commercial, Power Plants, Off-Grid) - Global Forecast to 2027

Overview

The solar panels market will witness a healthy growth from 2020 to 2027, a research report suggests. Growing at a CAGR of 20.18%, the market is projected to reach a considerably high valuation by 2027. Increasing demand for solar-driven vehicles is expected to support the market growth along with increasing adoption of storage grids. As predicted by analysts, delay in production and supply will negatively affect the market’s performance from 2020 to 2027. During the forecast period, the market will be supported by increasing demand for solar-driven appliances and growing demand for PV installations.

The increasing prices of raw material on the other hand will challenge renewable energy sector based organizations functioning in the global solar panels market. Analysts have split the market into technology, module type, and application segments based on products and services. Renewable energy based companies have been profiled. The rising cost of solar panels in certain places is set to affect the global market during the forecast period 2020 to 2027. The report also provides the market’s performance forecasts till 2027. Analysts have studied the strategy of renewable energy segment based organizations to help new entrants and established businesses. The renewable energy sector itself is supported by substantial demand for solar panels in residential rooftop applications as well as decline in the prices of main raw materials. During the forecast period 2020 to 2027, the solar panels market is set to witness a health growth across technology, module type, and application segments as well as regional markets.

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Market Segmentation

The renewable energy sector has seen growth across technology, module type, and application segments owing to falling prices of main raw materials of solar panels and falling prices for other industrial commodities. To study the market, analysts have further segmented technology, module type, and application into Solar PV and CSP on the basis of technology. The market is further segmented into module type sub segment which is split into linear Fresnel reflectors, parabolic dishes, parabolic troughs, power towers, thin film, and crystalline. Additionally, the solar panels market on the basis of application is segmented into residential, commercial, power plants, and off-grid.

The segmental analysis presented in the solar panels market report provides renewable energy field based organizations insights into key growth factors such as rising electricity prices around the world as well as challenges such as unfavorable policies the market will face from 2020 to 2027. Cheaper solar panels and lower installation costs and decreased profitability of module manufacturers are some of the key factors having an influence on renewable energy industry based companies, suggest analysts as per the solar panels market report. But the report also identifies unfavorable regulatory environments and concerns related to material and availability as major threats companies in renewable energy will face till 2027.

Regional Overview

Renewable energy market based companies in the solar panels market are functioning across North America, Europe, Asia Pacific, the Middle East, and Africa including the rest of the world. Decline in the prices of solar panels will be a key growth driver for regional markets. However, lack of infrastructure will turn out to be a threat. For the forecast period 2015 to 2023 each of these regional markets are studied in the report.

Starting from North America, the regional market and renewable energy vertical based companies are spread across the United States, Canada, and Mexico. High deployment cost will turn out to be a major challenge from 2015 to 2023. Parts of the European market covered in the report are regional markets spread across the United Kingdom, France, Italy, and Germany. The market in the region will be benefitted by the increasing spending power of consumers as well as the rise in distribution channels, suggests the report. Similarly, the renewable energy sector’s segmental analysis for the Asia Pacific region covers India, Japan, China, and others. For the rest of the world, the research report for the solar panels market covers the Middle East and Africa. Forecast based on the report’s findings are presented for the forecast period till 2023.

Competitive Landscape

The global solar panels market research report brings a comprehensive study of technology, module type, and application market segments, regional analysis, and renewable energy vertical based company details of key players. As the forecast period 2015 to 2023 will bring new opportunities for the market owing to the growing demand from companies across many industries and the rising developments in industrialization, the market is set to grow at a compound annual growth rate of 20.18% and is predicted to reach a considerably high valuation by 2023. With SWOT analysis of renewable energy sector based companies and Porter’s Five Force model analysis based findings, and understanding challenges such as low output related concerns and high initial investments, companies in the renewable energy sector can change the way business is done.

Industry News

Fourth Wave, a home energy technology provider, has announced intentions to purchase DeSol Power Tiles, a solar tile company, as part of its ongoing growth in the residential solar market, leveraging its public status and aiming to bolster the company's business and volatile stock price. We previously covered Fourth Wave when they announced their reverse merger with Pierre Corp in order to achieve net zero residential houses. This DelSol purchase is intriguing; it would be fascinating to see how the pro-forma feels. DeSol Power Tiles solar tile roofs will be manufactured, marketed, and distributed across North America by the company. 

About Market Research Future

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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Spark Plug Market Demand, Industry Size, Top Players, Opportunities, Sales, Revenue And Regional Forecast To 2027

 Market Overview

Market Research Future (MRFR) confirms that the spark plug market 2020 can garner a striking valuation of close to USD 6.5 Billion by 2027. MRFR also anticipates the market to progress at a rate of 5% between 2020 and 2027 (review period). We will provide covid-19 impact analysis with the report. The COVID-19 research of the spark plug market offers an in-depth analysis post the coronavirus disease outbreak.

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COVID-19 Analysis

COVID-19 impact analysis by MRFR reveals that there has been a significant drop in vehicle sales in the space of just a few months, owing to the shutdowns across regions as well as the oil price fluctuations. Renowned automotive OEMs are adopting multiple tactics to mitigate the negative impact of the pandemic on their businesses by assessing their dealerships to resume services. The short-term impact of COVID-19 in the automotive sector has led to shutting down of assembly plants in the United States (US), manufacturing interruptions across Europe and ceased export of Chinese components, in the face of the lockdown situation. Additionally, post SARS-CoV-2, the demand for commercial vehicles has significantly plummeted following the shutdown of almost every non-essential service across the globe.

On the bright side, till the time a COVID-19 breakthrough is not achieved, the automotive industry can remain strong, thanks to the ongoing efforts by leading companies to curb revenue losses by adopting recovery tactics such as mergers and acquisitions and more. Despite the significant impact of the novel coronavirus on the automotive industry, online sale of vehicles can emerge as one of the growth boosters in the spark plug market.

Primary Boosters and Key Barriers

The spark plug as a concept has completely transformed the automotive industry, in terms of carbon emission. It helps resolve the cold starting issues and also helps boost the efficiency of the vehicles. Advanced spark plugs are used for improving cold starting and generating better combustion, leading to boosted performance of the vehicle. The ongoing development of spark plugs to elevate the performance as well as ignitability combined with the mounting consumer awareness about the product is also helping the spark plug market advance at a rapid pace.

Superior quality gasoline engines are being developed, with prime focus on the idea of lower consumption of fuel, considering lower emission rates along with better driving experience. In addition to this, the trend of engine downsizing has become mainstreamed within the automotive industry, which translates into massive demands from the segment of automotive ignition systems. It is no wonder that the demand for spark plugs has risen significantly in recent years. Sensing the opportunity, leading manufacturers are concentrating on catering to these requirements by modifying the designs and selecting the ideal materials. For example, at present, a number of leading vendors are developing thin and long spark plugs that are compatible with the decreased size of the head spaces within engines, leading to easy installation.

The escalating demand for natural gas-powered vehicles and frequent technological innovations like new electrode materials can be attractive opportunities for the leading companies, which could also benefit the worldwide market in the years to come.

Market Segmentation

The spark plug market has been considered for product type, material, sales channel as well as application.

The product types outlined in the study include hot as well as cold spark plug.

The materials assessed are platinum, iridium and copper spark plug.

The primary sales channels discussed in the report are aftermarket and OEM.

Application-based segmentation comprises industrial, marine, automotive, and others.

Regional Insight

The spark plug market has been regionally dissected into Europe, North America, Asia Pacific or APAC, along with RoW or the rest of the world.

APAC can emerge as the most profitable market for spark plug, thanks to the high production level of vehicles in India, China and Japan. A massive number of renowned car manufacturers are headquartered in China, which is committed to make sizeable investments in the automotive industry. Most of these players are increasingly entering into joint ventures with global brands, which work in favor of the spark plug market. Since the region holds the biggest market for natural gas-based and gasoline generator in line with the steadily increasing industrialization as well as urbanization, the market is expected to advance rapidly in the near future.

The North American market is quite substantial and seems to be advancing at a fast pace, as a result of the rising sale of gasoline light commercial vehicles along with the heightened demand for cold spark plugs.

In Europe, the soaring awareness level regarding fuel efficiency has induced the demand for better quality and advanced spark plugs among automotive-based end users. The continuously growing demand for these spark plugs is compelling manufacturers to work on their research and development capacity and develop better quality products.  

Leading Contenders

Leading contenders in the spark plug industry include Weichai Power Co. Ltd (China), Valeo (France), General Motors (US), Delphi Automotive (Ireland), Borgwarner Inc. (US), NGK Spark Plug Co. Ltd (Japan), Robert Bosch Gmbh (Germany), Federal-Mogul Corporation (US), Denso Corporation (Japan), FRAM GROUP IP LLC. (US), to name a few.

Recent Updates

May 2020

To test if nitric oxide can protect the lungs of those affected by SARS-CoV-2, Berra has collaborated with the Harvard University to assess a new delivery technique. Zapol has developed a device that makes use of platinum and iridium spark plugs to absorb nitrogen and oxygen gases from air to make NO. They are of the review that NO’s ability to boost the oxygen levels within the lungs can also quicken the recovery rate of the people afflicted by COVID-19, preventing the need for mechanical ventilation.

About Market Research Future

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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https://www.techsite.io/p/2169887

https://www.articletrunk.com/friction-brake-system-market-covid-19-impact-business-revenue-future-scope-market-trends-key-players-and-forecast-till-2027/

Oilfield Equipment Market Business Revenue, Future Scope, Market Trends, Key Players And Forecast To 2027

 Global Oilfield Equipment Market Research Report by Equipment (Drilling Equipment, Field Production Machinery, Pumps, Valves), Type (drilling (Drill Pipe, Drill Collars), Pressure & Flow control (BOP, Valves, Manifolds), Region – Forecast till 2027

Market Synopsis

As per the research by Market Research Future Reports (MRFR), the worldwide oilfield equipment market is estimated to thrive at a CAGR of 4.5% while the review period. The market is estimated to experience exponential growth during the forecast period. The market has various lucrative opportunities to expand. The recovery of oil price, increasing field development activities, and increasing oil exploration is likely to drive the global oilfield equipment market 2020. Moreover, the increasing prices have augmented the upstream activities in the oil industry, which has brought a direct impact on the growth of the oilfield market. in addition, the rising demand for oil and gas is also estimated to propel the demand in the oilfield and equipment market. Recently, oil and gas have been experiencing a downturn due to the falling prices; this change is estimated to increase the number of wells and thereby, leading to the expansion of the market. The oilfield services market has various opportunities to grow; however, the expensive cost of investment, Maintainance, research, human resources, and equipment is likely to impede the growth of the global oilfield equipment market.

Due to the sudden outbreak of novel coronavirus, there has been an immense change in the market dynamics. Several regions have been affected due to the pandemic. We will provide COVID-19 impact analysis with the report.

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Market Segmentation

The global oilfield equipment market can be segregated on the basis of type, equipment, and region.

On the basis of type, the global oilfield equipment market can be segregated into Pressure & Flow control (BOP, Valves, Manifold), drilling (Drill Pipe, Drill Collars). Among all, the Drill Pipe segment acquires the maximum market share because of the large drilling activities offshore and onshore.

On the basis of equipment, the global oilfield equipment market can be segregated into Valves, Field Production Machinery, Drilling Equipment, Pumps, and Others. Among all, the drilling equipment segments hold the maximum because of the rising number of drilling projects

On the basis of region, the global oilfield equipment market can be segregated into North America, Europe, Asia-Pacific, and the Middle East and Africa.

Regional Analysis

The geographical analysis of North America, Europe, Asia-Pacific, and the Middle East and Africa has been conducted. As per the analysis by Market Research Future Reports, North America dominates the market. North America holds the maximum market share. The region is excelling in rock studies activities for oil sands, shale oil, and carbonate rocks, and with several other exploration activities. Out of all of the countries, the U.S. plays the most significant role in expanding the market. On the other hand, the APAC region and the African region is likely to grow significantly in the forthcoming period. The primary factor of growth can be accredited to several activities of discovery taking place in the South China Sea, Gulf of Thailand, the Mediterranean Sea, and Egypt desert from Africa.

However, due to the outbreak of pandemic coronavirus, several regions have been adversely affected. The dynamics of the market are changed significantly due to the observation of worldwide lockdown.

Key Players

The forefront players of the worldwide oilfield equipment market are ABB Oil, and Gas and Petrochemical Business Unit (Switzerland), Weatherford International (U.S.), G.E. Oil and Gas (U.S.), Schlumberger (U.S.), Superior Energy Services (U.S.), C&J Energy Services Ltd. (U.S.), Pioneer Energy Services Corp. (U.S.),  National Oilwell Varco, Inc. (U.S.), Basic Energy Services, Inc. (U.S.), Halliburton (U.S.),  Expro International Group Holding Ltd. (U.K.), Oilserv (UAE), Wireline Engineering Ltd. (U.K.),  SGS (Switzerland), are among others.

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