Results for: Industrial Growth

The global electric heat tracing systems market is projected to reach a value of US$ 5.7 billion by 2031, driven by a surge in demand from various industries. This growth is fueled by the increasing adoption of sustainable energy sources like solar and wind power, as well as the need for precise temperature control in pharmaceuticals and biotechnology. Stringent regulations and compliance standards in rapidly developing regions like the Middle East and Africa are also contributing to the market’s expansion.

India’s core industries, accounting for a significant portion of the country’s industrial output, saw a positive growth of 2% in September 2024 compared to the same month last year. This growth was fueled by an increase in production of key sectors like cement, refinery products, coal, fertilizers, and steel. The cumulative growth rate for the period April-September 2024-25 stood at 4.2%, highlighting a positive trend in the industrial sector.

The global lubricants market is poised for substantial growth, projected to reach US$ 206.9 billion by 2034, driven by increasing demand for bio-based lubricants, robust industrial expansion, and advancements in lubricant technology. Asia Pacific is expected to lead the market, fueled by rapid industrialization and rising automotive sales.

The global boilers market is projected to grow significantly from 2024 to 2028, driven by increasing demand for energy-efficient solutions and the rise of biomass boilers. This growth is further fueled by government regulations promoting sustainable heating solutions and reducing carbon emissions. While challenges exist, such as the shift towards solar and wind energy and rising installation costs, the market is expected to experience continued expansion, particularly in the biomass fuel segment. Key players include A. O. Smith Corp., Alfa Laval AB, and Mitsubishi Heavy Industries Ltd.

The global medium voltage motors market is projected to witness steady growth during the forecast period of 2024-2028, with increasing demand for energy-efficient motors, expansion of the process industries, and growing adoption of renewable energy sources. The revival of the capex cycle in the energy sector, driven by declining costs of renewable energy and energy storage systems, is a key factor fueling market growth.