How are Government Initiatives Propelling North American Defibrillators Market?

One in every four deaths, i.e. 647,000 deaths in the U.S., are a result of cardiovascular diseases (CVD), according to the Centers for Disease Control and Prevention (CDC). If the heart is still beating, but in an arrhythmic pattern, a defibrillator is used to treat it. The device sends an electric shock, which neutralizes a large amount of the current coming from the heart’s natural pacemaker, to allow the sinoatrial node to resume its normal functioning. Arrhythmias can be fatal if not stopped immediately, especially ventricular fibrillation (v-fib), during which the body has no pulse.

These devices come in two variants: external defibrillators and implantable cardioverter defibrillators (ICD). External ones are commonly seen at hospitals and operated by medical professionals, while ICDs are implanted inside the body, for regular cardiac care. Of these, ICDs have witnessed higher uptake, on account of the technological advancements in these instruments and rising incidence of sudden cardiac arrest (SCA). In the coming years, the external variants are predicted to witness a more rapidly increasing uptake.

A key trend in the region is itself the rising adoption of automated external defibrillators (AED). The government, at the national and state/province levels, is taking initiatives to install public-access defibrillators (PAD), which are mostly AEDs, for the use of general public, in situations of emergency. Areas which witness a high footfall, such as schools and colleges, train stations, airports, shopping centers, leisure centers, and malls, are being rapidly equipped with AEDs, so that if anyone suffers a heart issue, bystanders can use the device to restore their sinus rhythm, until medical help arrives.

For instance, the Sudden Cardiac Arrest Foundation funded several schools, under its You Can Save a Life at School AED Grant” program, to procure AEDs, in February 2016. AEDs are quite easy to use as they not only measure the voltage required to neutralize the abnormal current flowing through the heart, but also apply it themselves. On the contrary, manual defibrillators measure the voltage required, but the users have to turn the knobs on the device and apply it to the heart, through the paddles.

Presently, the U.S. is the larger contributor to the North American defibrillators market, on account of the increasing prevalence of CVDs, government initiatives aimed at making people aware about defibrillation, and presence of numerous companies offering these products. In the years to come, the adoption of defibrillators is expected to pick up quickly in Canada as well, due to almost similar reasons which lead to their high sale in the U.S.

Hence, as people realize the importance of defibrillators, and governments keep up their efforts to make them easily accessible to the public, their uptake in North America will keep rising.

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Rising Demand for Energy to Push Up Control Valve Sales in Future Years

 Due to the booming population in several countries, the demand for energy is soaring. This is, in turn, pushing up the requirement for consistent power production and transportation. Moreover, the rising energy requirements are causing rapid advancements and innovations in the systems used for producing, processing, and transporting energy. As control valves are heavily used in power plants for managing the flow of steam and water, the growing energy demand is positively impacting the sales of control valves. 

Control valves are also used for keeping the energy demand-supply gap very narrow in order to prevent frequent power outages and load shedding. Furthermore, the discovery of several fossil fuel reserves in various Asia-Pacific (APAC) countries such as Thailand and China, on account of advancements in exploration and production (E&P) methods and technologies, is predicted to create lucrative growth opportunities for the companies producing control valves in the future years. 

Pharmaceuticals, wastewater management, oil and gas, food and beverages, chemicals, power generation, and automotive are the major application areas of control valves. Out of these, the usage of these valves is predicted to rise rapidly in the pharmaceuticals sector in the upcoming years, on account of the implementation of strict safety regulations in the pharmaceuticals industry for reducing risk and increasing the operational efficiency. Control valves help manufacturers enhance their manufacturing operations to reduce uncertainties and improve efficiency. 

Globally, the control valves market is presently the most lucrative in Asia-Pacific (APAC) and North America. This is because of the widespread usage of these valves in various industries for maintaining the flow rates of fluids and production. In addition to this, the discovery of oil and gas fields and the huge investments made in the oil and gas industry are fueling the demand for control valves in these regions.  

Hence, it can be said without any hesitation that the sales of control valves would shoot-up around the world in the forthcoming years, primarily because of their growing requirement in the power sector and oil and gas industry and their rising usage in the pharmaceuticals industry.  

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Why Are Biggest LATAM Commercial Refrigeration Equipment Market Trends?

 Walk-in coolers, transportation refrigeration equipment, display cases, beverage refrigeration, parts, and ice making machinery are the categories under the equipment type segment. During the historical period, the walk-in coolers category held the largest share due to the increasing demand for such systems in the regional food and beverage sector. The fastest growth in the LATAM commercial refrigeration equipment market will be experienced by the ice making machinery category during the forecast period owing to the rising demand for such equipment from grocery stores for poultry, meat, and fish preservation.

On the basis of end user, the market divisions are supermarkets, hypermarkets, e-commerce, hotels/restaurants & catering, convenience stores, and others, which includes hospitals, large pharmaceutical stores, educational institutions, and medical and life sciences. Among these, supermarkets dominated the market because of the rising sales of food products through these stores, the numbers of which are themselves increasing in the region. During the forecast period, e-commerce is expected to have the highest CAGR owing to the shift in the preference of people to buy ready-to-eat and frozen foods online.

The biggest LATAM commercial refrigeration equipment market trend is natural refrigerants. With the coming into force of the F-gas regulations and signing of the Montreal Protocol, countries are shifting from gases containing fluorine to natural refrigerants, as the latter lead to less ozone depletion. As a result, the usage of propane (R290) is increasing in built-in systems and smaller pieces of equipment. Similarly, carbon dioxide (CO2) is becoming a popular refrigerant for remote cooling systems and engine rooms, especially systems with semi-hermetic compressors.

Among the strongest drivers for the LATAM commercial refrigeration equipment market is the surging demand for beverages, frozen foods, and ready-to-eat products. This is itself owed to the rising influence of the Western culture and increasing disposable income of the people of the region. In addition, the growth in the number of supermarkets and hypermarkets has impelled owners of small grocery and retail stores to upgrade themselves with modern commercial-scale refrigerators and cooling systems.

In addition, the hospitality sector is also growing in the region, as thousands of people come here every year to bask in its natural beauty, wildlife, and cultural diversity, while many come here for cost-effective medical treatments. To cater to the growing swarm of tourists, major hotel chains, such as Hilton, Marriott, and Hyatt, are opening new and large hotels here. For instance, 212 hotels with a total of 34,550 rooms were under construction in Brazil, while the Colombian hotel pipeline had 63 projects with around 9,500 guestrooms.

To meet the increasing demand for food and beverage cooling systems, players in the fragmented LATAM commercial refrigeration equipment market are launching new and improved systems. The companies are aiming at systems that not only have eco-friendly refrigerants but are also energy-efficient and come with different cooling modes for different purposes. Electrolux AB, Metalfrio Solutions, Daikin Industries Ltd., Dover Corporation, Johnson Controls International PLC, United Technologies Corporation, Hussmann Corporation, Lennox International Inc., AHT Cooling Systems GmbH, and Illinois Tool Works Inc. are the major companies operating in the region.

Hence, with the rising demand for frozen and ready-to-eat foods in LATAM, the market will keep growing.

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How is Growing Concern Regarding Environment Driving Low Speed Electric Vehicle Market?

 As the environmental concerns across the globe are rising, the adoption of electric vehicles is increasing as well. Since vehicles are among the major factors responsible for the deckling air quality, it is highly imperative that alternative solutions instead of conventional fuel-based vehicles are utilized more. The general public is becoming aware regarding these concerns and hence, people are now more inclined towards electric vehicles. Governments of several countries as well are offering support in the form of grants and subsidies to encourage the adoption of such vehicles. In Asia-Pacific (APAC) specifically, governments are aiming towards electrifying passenger vehicles in the public transport system. 

LSEVs are of three types, namely four-wheeler, two-wheeler, and three-wheelers. Out of these, two-wheeler LSEVs were the most in demand in the past and are expected to register highest demand in the coming years as well. This is ascribed to the growing utilization of these vehicles in shared mobility services and in personal transportation. Types of two-wheeler LSEVs are mono wheel, scooter, kick scooter, motorcycle, and bike. LSEVs have different voltages— 24V, 36V, 48V, 60V, and 72V. The demand for LSEVs with the voltage 48V was the highest in the past; however, the adoption of LSEVs with 72V is predicted to increase significantly in the near future. 

This is because of the rising requirement for high-speed electric scooters and microcars. Both sealed lead acid and lithium-ion (Li-ion) batteries are used in these vehicles. While the demand for sealed leas acid batteries was higher in the past, the preference is shifting towards Li-ion batteries at the present time. Before, the cost of sealed lead acid batteries was lower than that of Li-ion batteries, however, now owing to technological advancements in the battery technology, the prices of Li-ion batteries have declined considerably. In addition to this, Li-ion batteries are smaller in size and lighter in weight in comparison to sealed lead acid batteries, which is why manufacturers are increasingly making their use. 

Geographically, the APAC region emerged as the largest low speed electric vehicle market in the past, with China leading the regional domain. This is because of the large population base, increased government support in the form of regulations and subsidies, and technological advancements in the country. The adoption of these vehicles is also predicted to grow significantly in India in the years to come. 

Therefore, the demand for LSEVs is rising due to the surging environmental concerns across the globe. 

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BFSI Sector Managing Data with Automation Services

The surging adoption of new-age technologies in the banking, financial services, and insurance (BFSI) sector has led to the increasing utilization of automation solutions. The BFSI sector generates a large amount of data, which is now being documented and analyzed with accuracy by utilizing automation software. Moreover, the adoption of AaaS in this sector reduces the time taken for documenting, accounting, invoicing, calculations, and other important but daily and routine functions. These advantages result in the streamlining of BFSI operations and improvements in the efficiency of the overall system.

The type segment of the automation as a service market is bifurcated into rule-based and knowledge-based. The rule-based bifurcation held the larger market share due to the deployment of automation programming solutions to automate various tasks that do not need high cognitive abilities and are least complex. Moreover, the knowledge-based category is exhibiting rapid growth in the market owing to the better ability of knowledge-based automation solutions to deal with high volumes of unstructured data.

This is why the BFSI sector is generating a high demand for automation in compliance, credit card approval, customer service, fraud detection, invoice digitization, mortgage processing, report build-up, know your customer (KYC) integration, account closing, and ledger update processes. Additionally, the AaaS software finds wide application in the retail and consumer goods industry, as it offers better customer service and curtails lead times for products. Besides, these solutions provide better cost control, higher productivity, and enhanced process control.

The North American automation as a service market generated the highest revenue due to the advanced service industry, high IT expenditure, presence of large enterprises, and technological developments in the region. According to P&S Intelligence, the Asia-Pacific (APAC) region is expected to showcase the fastest growth in the market in the forecast years. This can be attributed to the expanding service industry, particularly in India and China, economic development, growing digitalization, and rising adoption of novel technologies.

In recent years, key AaaS solution vendors have started to adopt measures such as geographical expansion, product launches, and mergers and acquisitions to gain a competitive edge over each other. For example, Micro Focus International plc introduced Vertica 9.1, a new variant of Vertica, with additional features including the separation of computer resources from data storage and simplified operations, to enable clients to curtail costs of their cloud infrastructure. Further, Accenture plc acquired Kogentix to strengthen the Accenture Applied Intelligence services in North America by utilizing the AI and big data services and solutions offered by Kogentix.

Thus, the advancements in technology and quick digitalization of several industries have augmented the demand for AaaS solutions globally.

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Why is European Cleanroom Technology Market Expected to Witness Huge Progress in France in Future?

 The rising incidence of infectious diseases is one of the key factors resulting in the increasing demand for the cleanroom technology in Europe. As per the European Centre for Disease Prevention and Control (ECDC), human immunodeficiency virus (HIV) infection is one of the most prevalent diseases in the region, with almost 30,000 new cases recorded every year. It was reported that approximately 29,444 people were suffering from HIV in 31 countries of the European Union (EU). The other most common diseases prevalent in the region are hepatitis B, respiratory tract infections, and tuberculosis, which is raising the demand for drugs and medical devices.

The European cleanroom technology market is additionally expected to advance at a CAGR of 7.2% during the forecast period . Between consumables and equipment, consumables are expected to register faster growth in requirement during the forecast period, owing to their rising adoption, in order to maintain a contamination-free environment in hospitals, research laboratories, and pharmaceutical, medical devices, and biotechnology industries.

The other major factors propelling the demand for cleanroom consumables and equipment in Europe are the soaring investments in research and development (R&D) aimed at producing new medicines for the treatment of various diseases and ailments, and the growing biotechnology and pharmaceutical industries in the region. As per the European Federation of Pharmaceutical Industries and Associations (EFPIA), investments worth $41,822.4 million were made by the industry in R&D, which significantly pushed the adoption of cleanroom technology in the region.

In Europe, pharmaceutical production is increasing at a rapid rate, mainly due to the rising demand for drugs, on account of the increasing prevalence of chronic diseases and surging geriatric population. As per the EFPIA, the region reported pharmaceutical production worth $337,825 million. Apart from pharmaceutical, cleanrooms are required in the medical devices and biotechnology industries. Out of these, the pharmaceutical industry recorded the highest usage of cleanroom consumables and devices, primarily due to the rising number of pharmaceutical companies in Europe, which are mandated to have cleanrooms.

Germany recorded the highest adoption of the cleanroom technology in Europe in the past, and this trend is expected to continue during the forecast period. This is mainly attributed to the increasing number of cleanroom technology providing companies and ballooning incorporation of cleanroom products in the biotechnology and pharmaceutical companies in the country. France is predicted to register the fastest growth in the adoption of the cleanroom technology in the continent in years to come, owing to the presence of numerous companies offering and using these solutions. As a result, the European cleanroom technology market will grow rapidly in France.

Hence, it is clear that owing to the burgeoning demand for a pollutant- and contaminant-free environment in the pharmaceutical, biotechnology, and medical devices industries and increasing awareness regarding hygiene and sterilization, the demand for cleanrooms will rise in Europe in future.

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Increasing Usage of Electric Vehicles Fueling Demand for Electric Motors in Asia-Pacific

The governments of various APAC countries such as India and China are introducing sales targets for electric vehicles and offering financial incentives and subsidies on the purchase of these vehicles. For example, the Chinese government started offering subsidies of more than $10,000 per vehicle. Furthermore, Beijing implemented a policy  aimed at capping the number of car plates issued every month to almost 100,000. Electric vehicles were exempted from this policy and as a result, their sales grew massively in the city during that year.

Additionally, the escalating pollution levels and the rising need for energy conservation in the Asia-Pacific (APAC) region are pushing up the requirement for lower energy consumption, especially by high power-consuming industries. This is another key driver for the APAC electric motor market, as such devices account for nearly 70% of the total power consumption in a manufacturing plant. The operation of compressors and electric motors together account for the highest consumption of power in a manufacturing facility.

Many industries are adopting energy-efficient electric motors in large numbers for reducing the overall energy consumption and mitigating the operating costs. Besides this, in many industries, motor-driven electric vehicles are increasingly being used for curbing the soaring power consumption levels. Since an electric motor is a critical component of an electric vehicle, the ballooning usage of motor-driven electric vehicles is boosting the sales of electric motors in the APAC region. 

The most widely used types of electric motors in the region are DC motors, hermetic motors, and AC motors. Till now, AC motors have witnessed the widest sales on account of the rising demand for EVs and industrial machinery. AC motors are preferred in such sectors because of their high power output and lower maintenance requirements. Amongst these, the sales of hermetic motors will rise rapidly in the region in the future, because of the growing usage of heating, ventilation, and air-conditioning (HVAC) equipment in the construction industry. 

According to the estimates of the market research firm, P&S Intelligence, the APAC electric motor market would exhibit the fastest growth in India in the coming years. This is credited to the presence of a flourishing manufacturing and construction industry in the country. The country’s domestic manufacturing improved massively after the launch of the Make in India initiative  and the trend will continue in the coming years, thereby boosting the demand for electric motors in the country.

Thus, it can be said with full confidence that the sales of electric motors would shoot-up all over the APAC region in the forthcoming years, primarily because of the growing requirement for these motors in the manufacturing plants and construction activities and the rising deployment of electric vehicles in the region.

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Denim Market Trends, Business Strategies, Regional Outlook, Challenges and Analysis

 The worldwide growth in the e-commerce industry and transformation of the Asian retail clothing industry are the major driving factors of the market. In terms of segment, the market is divided into premium, standard, and mass market. 

Among all these, the premium division is expected to register the highest CAGR during the forecast period, owing to rapid westernization, increasing number of high-net-worth individuals, and growing upper-middle-class population around the world. On the basis of consumer type, the market is classified into children, men, and women, out of which, the men classification dominated the market . Men are creating increasing demand for casual and rugged-material clothing. They wear denim clothing for several purposes, including everyday life, parties, and work.   

When distribution channel is taken into consideration, the denim market is categorized into exclusive stores, specialty stores, hypermarkets and supermarkets, online, and department stores. Specialty stores accounted for the major share of the market in the past, as several brands are offered under one roof in these stores. The online category is predicted to grow at the fastest pace during the forecast period, owing to the rapidly expanding e-commerce industry. Moreover, people these days are widely demanding convenient on-demand shopping platforms. 

Geographically, the denim market was dominated by North America during the historical period . The increasing disposable income, rising demand for superior-quality clothing, and growing promotion of denimwear by celebrities are the major factors driving the growth of the regional domain. The Asia-Pacific region is expected to register the highest CAGR during the forecast period, because of urbanization, rising disposable income, enhancements in the manufacturing process, improving living standards, and growing population of working class in the region. 

The improvement in organized retail and the introduction of advanced solutions that are driving the denim market. The price of denim products differ on the basis of comfort, texture, wash, and style. The denim industry has paid attention to diverse needs ad budgets of consumers, which is why, products ranging from cheap to luxury are available in the market. In addition to this, the industry is widely introducing new designs, cuts, and washes for keeping consumers interested. 

A major trend being witnessed in the denim market is the shifting focus of consumers towards cropped, distressed, and patched jeans. People around the world are increasingly demanding trending jeans, such as jeans with cropped hems, two-tone jeans, boyfriend jeans, and skinny jeans. The popularity these products is majorly increasing among the younger generation, which can be ascribed to their inclination towards casual look. Moreover, the demand for decorative denims that have details including laces, patches, and embroidery is also expected to result in the growth of the market. 

In conclusion, the market is growing due to the improvements in organized retail and introduction of innovative solutions.

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