Mese: settembre 2024

Patient Engagement Solutions Industry Overview

The global patient engagement solutions market size was valued at USD 22.7 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 17.7% from 2024 to 2030.

Growing technological developments, adoption of EHR and mhealth solutions, prevalence of chronic diseases, supportive initiatives by key market stakeholders, and consumerism in healthcare are some of the key drivers of this market. As per a 2021 survey by NextGen Healthcare,83% of ambulatory healthcare survey respondents believed that patient engagement solutions played a key role in organizational financial success and patient outcomes. The survey also indicated that COVID-19 pandemic fueled the market growth.

Gather more insights about the market drivers, restrains and growth of the Patient Engagement Solutions Market

COVID-19 had unprecedented consequences on daily lives and the global economy. A significant burden is formed on healthcare systems across the globe. Providers, payers, and life science companies started looking for solutions to increase patient engagement in various settings, such as remote home monitoring, virtual consultations, and clinical trials. Pandemic and the resulting movement restrictions propelled the need to facilitate virtual communication between customers and their care providers. This led to a surge in demand for patient engagement solutions during 2020. This growth, however, was observed to have dampened during 2021, and the market is anticipated to grow notably at a steady rate over the forecast period.

The COVID-19 outbreak has encouraged innovations in patient monitoring and cloud computing. For instance, in April 2020, GE Healthcare announced an innovative cloud-based remote-monitoring tool to assist clinicians looking after ventilated COVID-19 patients. A growing number of smartphone users around the globe expedited the adoption of mHealth across the sector, both from providers and consumers. Healthcare apps are rising, and they are easy to download on smartphones. These apps can be connected with wearable devices, and they support the users in overall health management, which, in turn, has augmented the dependability of patients on mHealth apps. Thus, COVID-19 pandemic is anticipated to play a substantial role in digital transformation.

Browse through Grand View Research’s  Healthcare IT Industry Research Reports.

• The global mHealth market size was estimated at USD 62.7 billion in 2023 and is projected to grow at a CAGR of 14.1% from 2024 to 2030.
• The global clinical trials market size was valued at USD 80.7 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 6.49% from 2024 to 2030.

Patient Engagement Solutions Market Segmentation

Grand View Research has segmented the global patient engagement solutions market based on delivery type, component, functionality, therapeutic area, application, end-use, and region:

Patient Engagement Solutions Delivery Type Outlook (Revenue, USD Million, 2018 – 2030)

• Web & Cloud-based
• On-premise

Patient Engagement Solutions Component Outlook (Revenue, USD Million, 2018 – 2030)

• Software & Hardware
  • Standalone
  • Integrated
• Services
  • Consulting
  • Implementation & Training
  • Support & Maintenance
  • Others

Patient Engagement Solutions Functionality Outlook (Revenue, USD Million, 2018 – 2030)

• Communication
• Health Tracking & Insights
• Billing & Payments
• Administrative
• Patient Education
• Others

Patient Engagement Solutions Therapeutic Area Outlook (Revenue, USD Million, 2018 – 2030)

• Health & Wellness
• Chronic Disease Management
• Others

Patient Engagement Solutions Application Outlook (Revenue, USD Million, 2018 – 2030)

• Population Health Management
• Outpatient Health Management
• In-patient Health Management
• Others

Patient Engagement Solutions End-use Outlook (Revenue, USD Million, 2018 – 2030)

• Payers
• Providers
• Others

Patient Engagement Solutions Regional Outlook (Revenue, USD Million, 2018 – 2030)

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Sweden
  • Norway
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • South Africa
  • Saudi Arabia
  • Kuwait
  • UAE

Key Companies profiled:

• Cerner Corporation (Oracle)
• NextGen Healthcare, Inc.
• Epic Systems Corporation
• Allscripts Healthcare, LLC
• McKesson Corporation
• ResMed
• Koninklijke Philips N.V.
• Klara Technologies, Inc.
• CPSI
• Experian Information Solutions, Inc.
• athenahealth, Inc.
• Solutionreach, Inc.
• IBM
• MEDHOST
• Nuance Communications, Inc.

Key Patient Engagement Solutions Company Insights

The market for patient engagement solutions has been characterized by intense competition owing to the presence of large and small businesses. Key participants are holding a significant share of the market. Major players are aiming at implementing new approaches such as geographic penetration,new product/solution development, mergers & acquisitions, partnerships, and strategic collaborations to expand their market footprint.

For instance:

• In December 2022, EnlivenHealth, the retail pharmacy solutions division of Omnicell, Inc., introduced the Patient Engagement Network (PEN). This comprehensive solution integrates EnlivenHealth’s national pharmacy network with advanced data insights and digital engagement technologies, aiming to enhance patient health outcomes, boost brand loyalty, and drive revenue growth.
• In March 2022, UST and Well-Beat, an Israeli start-up, collaborated to create a pioneering digital patient engagement SaaS solution. Compatible with existing Electronic Health Record (EHR) systems and connected devices, the solution eliminates the need for changes to clinical workflows or onboarding to a new platform. Administrators gain a blockchain-based patented tool to assess the patient ecosystem, enhancing existing EHR capabilities through a unique set of APIs.
• In March 2020, PatientPoint, an engagement solutions provider, introduced three new digital products— hospital bedside tablet PatientPoint Interact—Hospital, mobile solution PatientPoint Extend, and the adherence-focused infusion suite tablet PatientPoint Infuse. These extend the digital footprint of patient education and engagement, enhancing communication across additional points of care.

Order a free sample PDF of the Patient Engagement Solutions Market Intelligence Study, published by Grand View Research.

Ceramic Tiles Industry Overview

The global ceramic tiles market size was estimated at USD 186.70 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 7.4% from 2024 to 2030.

Increasing demand for aesthetically, superior and durable wall and floor covering solutions and consumer trends in floor design have been driving industry growth of the market over the past few years. Expansion of offices & workspaces, improving consumer lifestyle, and rapid urbanization are factors that have also contributed to the market growth. The tremendous cost of rehabilitation has created a demand for materials with a much longer life span and requiring minimal maintenance. This is expected to have a positive impact on the industry over the forecast period. Ceramic tiles are available in a variety of colors, textures, and sizes which has led to an increase in the attractiveness of this market segment over the past years.

Gather more insights about the market drivers, restrains and growth of the Ceramic Tiles Market

The growth in construction spending in the emerging Middle Eastern and Asia Pacific economies can be attributed to the strong industrial and economic development coupled with population expansion, which is likely to have a positive impact on the demand for ceramic tiles in these regions over the forecast period. Furthermore, the governments of emerging economies have invested significantly in public infrastructures such as offices, building hospitals, and housing societies.

The U.S. ceramic wall tiles industry is expected to witness substantial growth over the forecast period owing to the expansion of the construction sector in the country. The rising application of ceramic wall tiles in fireplace cladding and feature walls is the major factor driving the industry. In response to the rising demand, industry players are focusing on launching new wall tile collections.

The positive outlook of the healthcare sector in the U.S. is expected to promote the demand for anti-bacterial, stain & water-resistant, low-maintenance, and highly durable flooring over the forecast period. Changing consumer preferences coupled with increasing options for decorative flooring to improve the aesthetics of commercial buildings such as offices and business centers are further expected to promote the demand over the forecast period.

Browse through Grand View Research’s Advanced Interior Materials Industry Research Reports.

• The Middle East molded case circuit breakers market size was valued at USD 649.3 million in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 6.9% from 2024 to 2030.
• The global marble market size was estimated at USD 64.67 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 4.6% from 2023 to 2030, on account of the growing construction activities of residential and commercial buildings around the world.

Ceramic Tiles Market Segmentation

Grand View Research has segmented the global ceramic tiles market based on product, application, end-use, and region:

Ceramic Tiles Product Outlook (Volume, Million Square Meters; Revenue, USD Million; 2018 – 2030)

• Glazed ceramic tiles
• Porcelain tiles
• Scratch free ceramic tiles
• Others

Ceramic Tiles Application Outlook (Volume, Million Square Meters; Revenue, USD Million; 2018 – 2030)

• Wall Tiles
• Floor Tiles
• Others

Ceramic Tiles End-use Outlook (Volume, Million Square Meters; Revenue, USD Million; 2018 – 2030)

• Residential
• Commercial

Ceramic Tiles Region Outlook (Volume, Million Square Meters; Revenue, USD Million; 2018 – 2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • Russia
  • UK
  • Spain
  • Turkey
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• Central & South America
  • Brazil
  • Argentina
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Oman
  • Bahrain
  • Kuwait
  • Qatar

Key Companies profiled:

• Atlas Concorde S.p.A.
• MOHAWK INDUSTRIES, INC.
• Crossville, Inc.
• RAK Ceramics
• Cerámica Saloni
• Florida Tile, Inc.
• PORCELANOSA Grupo A.I.E.
• Kajaria Ceramics Limited
• GRUPPO CERAMICHE RICCHETTI S.p.A.
• China Ceramics Co., Ltd.
• Guangdong Monalisa Industry Co.,
• Guangdong Newpearl Ceramics Group Co., Ltd.
• Florim Ceramiche S.p.A.

Key Ceramic Tiles Company Insights

Some of the key players operating in this industry include Mohawk Industries, Inc., SCG Ceramics, Grupo Lamosa, Grupo Cedasa, and RAK Ceramics:

• Mohawk Industries, Inc., is headquartered in Georgia, U.S., and is primarily engaged in the production of flooring components. It designs, sources materials, manufactures, and distributes different types of flooring materials to markets including residential new construction, residential replacement, and commercial constructions. This company operates its business through segments: Global Ceramics, Flooring North America, and Flooring Rest of the World
• RAK Ceramics designs and manufactures ceramic tiles and sanitary ware for residential & commercial purposes. It majorly serves Asia Pacific and Europe, with over 40 subsidiaries operating in tiles and bathroom fittings
• Kajaria Ceramics Limited company designs and manufactures ceramic and vitrified tiles as well as flooring products. This company has seven manufacturing units in India and global sales operations in North America, Europe, Asia Pacific, and Middle East & Africa. Its sales & distribution facilities in European region are located in Spain, France, Belgium, UK, Germany, and East Europe

China Ceramics Co., Ltd, and Florim Ceramiche S.p.A. are some of the emerging industry participants in this market.

• China Ceramics Co., Ltd. is engaged in the manufacturing of ceramic tiles. Its products are offered in domestic as well as international markets and are used in interior flooring and exterior siding of residential and commercial buildings.
• Florim Ceramiche S.p.A. owns a network of production units, logistic centers, and business partnerships in Europe, North America, and Asia. It manufactures tiles, porcelain stoneware, ceramic slabs, and stoneware products for architecture, interior design, and construction.

Recent Developments

• In January 2023, H & R Johnson, a company that is part of Prism Johnson Limited and is involved in the manufacturing of ceramic tiles, launched its new collection at an event held in Kolkata, India. This new collection consists of 3,000 new designs of ceramic tiles, which find applications in a variety of spaces catering to the industry demand of architects and designers.
• In June 2022, Mohawk Industries, Inc. entered into an agreement to acquire Vitromex, a Mexican ceramic tile manufacturer that holds a leading position in the market. This company has four manufacturing facilities located across Mexico and a broad distribution network. This acquisition allowed Mohawk Industries, Inc. to increase its participation in the Mexican ceramic tile market with the help of Virtomex brand.

Order a free sample PDF of the Ceramic Tiles Market Intelligence Study, published by Grand View Research.

Smart Lighting Industry Overview

The global smart lighting market size was valued at USD 15.05 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 22.1% from 2023 to 2030.

The ability of lights to connect with IoT devices and create a variety of ambient lighting using just smartphones or tablets has increased its popularity and demand across commercial and residential spaces. Smart lights are dimmable with various color tones as per requirement, can be scheduled to turn on/off, monitor lighting’s energy usage, and be connected via Wi-Fi, Bluetooth, SmartThings, Z-Wave, or ZigBee. Additionally, smart lights can be voice-controlled by integration with the platform, such as Google Assistant, Amazon’s Alexa, Apple’s Siri, or Microsoft’s Cortana. These wide ranges of features apart from illumination coupled with the growing adoption of IoT devices and smart assistant platforms have created market growth avenues for smart lighting.

Gather more insights about the market drivers, restrains and growth of the Smart Lighting Market

Smart lighting is also termed connected lighting as it can be seamlessly integrated into the IT network in a building or city infrastructure to share information regarding the status of the operation. For instance, smart street lights in city parking or roads ensure safety by offering wide coverage, environmental monitoring, parking and traffic management information, and city surveillance by connecting with IoT devices. Smart lights are often integrated with sensors, which turn them into a point of intelligence device to gather information on activity patterns, daylight levels, occupancy, changes in temperature, or humidity. This information proves to be vital for government departments to take appropriate actions and monitor the city for unwarranted activity.

Government policies encouraging energy conservation and environment protection coupled with stringent regulations discourage the usage of incandescent lamps, which is anticipated to bolster the demand for LED smart lighting. The global lighting industry consumes approximately 19% of the total electricity and is responsible for around 6% of the total greenhouse gas emissions. On the contrary, LED smart lights are highly efficient. They consume almost 70% less energy and connect devices to collect information for future processes. They have significantly longer life spans and are free from any mercury content. Similarly, there are no harmful greenhouse gas emissions associated with LED lights. Thus, LED technology has potentially revolutionized the entire lighting industry and infiltrated the smart lighting segment wherein LED is a preferable choice among vendors and consumers.

The penetration of smart lights is expected to increase owing to benefits such as controlled power usage, longer life, multiple light settings in a single lamp/luminaire, and availability of a wide range of modern decorative lighting products. The adoption of smart lighting in the residential, commercial, and industrial sectors is yet to reach its full potential. Hence, various government initiatives to promote the use of LED-based smart lights are expected to boost their demand over the forecast period.. Moreover, countries such as China, Brazil, Colombia, Mexico, France, Spain, and Germany have imposed a complete ban on the sale of incandescent lamps to encourage the adoption of LED lights; wherein high-income groups are leaning towards LED-based smart lights. Furthermore, many smart lighting companies had reported a negative impact of the COVID-19 pandemic due to the lockdown, disrupting construction activity, and raw material supply. The decline in consumer purchasing capacity, and delay in completing construction projects due to the COVID-19 pandemic pushed the smart lights purchase order quantity, timeline, and payment.

Browse through Grand View Research’s Semiconductors Industry Research Reports.

• The global Internet of Things (IoT) market size was valued at USD 1.18 billion in 2023 and is projected to grow at a CAGR of 11.4% from 2024 to 2030.
• The global smart cities market size was valued at USD 748.7 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 25.8% from 2023 to 2030.

Smart Lighting Market Segmentation

Grand View Research has segmented the global smart lighting market based on component, connectivity, application, region:

Smart Lighting Component Outlook (Revenue, USD Million, 2018 – 2030)

• Hardware
  • Lamp
  • Luminaire
• Software
• Services

Smart Lighting Connectivity Outlook (Revenue, USD Million, 2018 – 2030)

• Wired
• Wireless

Smart Lighting Application Outlook (Revenue, USD Million, 2018 – 2030)

• Indoor
  • Residential
  • Commercial
• Outdoor
  • Highways and Roadways
  • Architectural
  • Others

Smart Lighting Regional Outlook (Revenue in USD Million, 2018 – 2030)

• North America
  • US
  • Canada
• Europe
  • UK
  • Germany
  • France
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa
  • Saudi Arabia
  • South Africa
  • UAE

Key Companies profiled:

• Acuity Brands Lighting, Inc.
• Signify Holding
• Honeywell International Inc.
• Itron Inc.
• IDEAL INDUSTRIES, INC.
• Häfele America Co.
• Wipro Lighting
• Sengled Optoelectronics Co., Ltd.
• Verizon
• Schneider Electric

Key Smart Lighting Company Insights

The leading players in the market are undertaking strategies such as product developments, mergers and acquisitions, strategic partnerships, and business expansions to maintain their stronghold on the market. For instance, in May 2023, Cyclone Lighting, a manufacturer of outdoor lighting fixtures released a new luminaire called Elencia. Elencia features high-performance optics and a modern lantern design, making it a stylish and functional choice for outdoor lighting. Cyclone Lighting is a brand of Acuity Brands Lighting, Inc.

Recent Developments

• In March 2023, Itron, Inc. signed a contract with Duquesne Light Company (DLC) to improve operational efficiency, update infrastructure, and enable smart city applications. Itron plans to supply DLC with its smart street lighting solution, which includes LED lights, sensors, and software for dimming, collecting data, and controlling traffic. The solution is expected to assist DLC in conserving energy, improving safety, and better understanding how its consumers use its services.
• In January 2023, YEELIGHT, a smart lighting manufacturer unveiled a new range of products including the Cube Smart Lamp, an Automatic Curtain Opener, and a Smart Scene Panel. These products work with the new smart home standard, Matter, which is expected to be released later this year.

Order a free sample PDF of the Smart Lighting Market Intelligence Study, published by Grand View Research.

Molded Pulp Packaging Industry Overview

The global molded pulp packaging market size was estimated at USD 5.45 billion in 2023 and is expected to grow at a CAGR of 7.4% from 2024 to 2030.

Factors attributing to market growth include increasing demand for sustainable & eco-friendly packaging solutions and increasing demand from end-use industries such as food packaging, healthcare, food service, electronics, and others. Manufacturers are striving for maintain healthy competitive environment across market space by implementing various strategies. For instance, in July 2023, Tekni-Plex, Inc. announced opening of their facility in Ohio, for manufacturing of specialty molded pulp products, especially fiber-based egg cartons.

Gather more insights about the market drivers, restrains and growth of the Molded Pulp Packaging Market

Food packaging and foodservice industries together dominated North American molded pulp packaging market. This dominance can be correlated to huge demand for packaged food and on-the-go food serving. Commercial food service establishment accounted for over USD 813.4 billion of total food marketing system market and thus, emerged as a major segment of industry. Commercial food service category includes restaurants, caterers, cafeterias, fast-food outlets, and other institutions that prepare, sell, and serve food. With such institutions looking forward to new packaging solutions having minimal carbon footprint, molded pulp packaging market is expected to witness strong growth over coming years.

Trays dominated product segment in U.S. owing to growing awareness of environmental benefits of using sustainable packaging solutions, increasing demand for convenient and lightweight packaging options, and rise in e-commerce activities. Trays are widely used for packaging a wide range of products, including food items like fruits, vegetables, eggs, and meat. Demand for molded pulp trays is expected to continue to grow due to increasing demand for eco-friendly and sustainable packaging solutions.

Rising consumption of eggs and fresh fruits and growing demand for sustainable packaging are preponderance for molded pulp packaging market. Eggs are packaged in molded pulp trays and clamshells, which are then sold to restaurants, foodservice operators, and individual buyers. In addition, per capita egg consumption is increasing on a yearly basis across world. Thus, rising consumption of eggs, owing to expanding population, associated health benefits, and increasing demand for higher protein intake, is anticipated to drive demand for molded pulp packaging products, thereby propelling market growth.

Molded pulp bottles are typically made from paper pulp and water. The pulp is molded into the desired bottle shape and then dried. These bottles are used for packaging products like beverages, cosmetics, and other liquid or semi-liquid substances. Molded pulp corner protectors protect the corners of fragile or delicate items during shipping and transportation. They act as a cushion, absorbing shocks and preventing damage to the product.

Browse through Grand View Research’s Plastics, Polymers & Resins Industry Research Reports.

• The global rigid polyurethane foams market was estimated at a value of USD 20.69 million in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 5.8% from 2024 to 2030.
• The global polyurethane (PU) microspheres market size was valued at USD 79.0 million in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2030.

Molded Pulp Packaging Market Segmentation

Grand View Research has segmented the global molded pulp packaging market based on source, molded type, product, application, and region:

Molded Pulp Packaging Source Outlook (Volume, Kilotons; Revenue, USD Million, 2018 – 2030)

• Wood Pulp
• Non-wood Pulp

Molded Pulp Packaging Molded Type Outlook (Volume, Kilotons; Revenue, USD Million, 2018 – 2030)

• Thick Wall
• Transfer
• Thermoformed
• Processed

Molded Pulp Packaging Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 – 2030)

• Trays
• End Caps
• Bowls & Cups
• Clamshells
• Plates
• Others

Molded Pulp Packaging End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 – 2030)

• Food Packaging
• Food Service
• Electronics
• Healthcare
• Industrial
• Others

Molded Pulp Packaging Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 – 2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Southeast Asia
• Central & South America
  • Brazil
  • Argentina
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa

Key Companies profiled:

• Brodrene Hartmann A/S
• Huhtamako Oyj
• CKF Inc
• Thermoform Engineered Quality LLC
• Genpak, LLC
• Eco-Products, Inc.
• Pro-Pac Packaging Limited
• Fabri-Kal
• Hentry Molded Products, Inc.
• Sabert Corporation
• HEFEI CRAFT TABLEWARE CO., LTD.
• Laizhou Guoliang Packing Products Co. Ltd
• MVI ECOPACK
• Pton Molded Fiber Products Co., Ltd
• Qingdao Xinya Molded Pulp Packaging Products Co., Ltd.
• Fuzhou Qiqi Paper Co., Ltd
• Shandong Upmax Packaging Group Co., Ltd.
• Huain, Inc.

Key Molded Pulp Packaging Company Insights

The molded pulp packaging market is highly competitive with presence of both global and regional companies. Companies operating in the market offer a wide range of products that are available in a variety of shapes, sizes, and colors. Moreover, they offer custom packaging products to suit customer-specific requirements.

The market has also witnessed several new product launches and mergers and acquisitions over last few years.

• In June 2023, ANTAIRA TECHNOLOGIES, LLC., announed their transition to complete molded pulp packaging for its network devices across North America in line with companies moving towards sustainable packaging solutions.
• In March 2023, Eco-Products, Inc.’s Vanguard clamshell became the first molded fiber product with no added PFAS received approval from Compost Manufacturing Alliance.
• In February 2023, Huhtamako Oyj announced acquisition of a joint venture foodservice distribution in Australia. With this acquisition, company is serving food services packaging solutions to a wide network of regional and metropolitan wholesalers, restaurant businesses, and others.

Order a free sample PDF of the Molded Pulp Packaging Market Intelligence Study, published by Grand View Research.

Contrast Media Injectors Industry Overview

The global contrast media injectors market size was valued at USD 1.27 billion in 2023 and is projected to grow at a CAGR of 7.50% from 2024 to 2030.

The contrast media injectors market growth is attributed to the rising prevalence of chronic disorders, technological advancements, and increasing demand for minimally invasive surgical procedures. The rising number of chronic diseases has harnessed the demand for diagnostic imaging tests that use conventional imaging methods such as X-rays and ultrasounds, along with advanced imaging techniques such as CT scans and MRIs. The ability of these tests to diagnose diseases and help to decide on surgeries/treatments in interventional procedures, as well as their use for perioperative imaging before surgeries, is likely to increase the number of contrast media procedures. Thus, the rising prevalence of long-term diseases and complex co-morbidities are major factors propelling market growth.

Gather more insights about the market drivers, restrains and growth of the Contrast Media Injectors Market

Moreover, rapid advancements in technology, increased spending on healthcare, and enhancements in patient care quality are leading to the worldwide rise in the demand for minimally invasive surgical procedures. Contrast media injectors are invaluable tools for surgeons. They help them precisely administer contrast agents, thereby minimizing human errors and enhancing the precision and efficiency of operations. These products are essential in the fields of intraoperative interventional radiology and interventional cardiology. The presence of sophisticated injection systems for both diagnostic and intraoperative imaging purposes is expected to drive their increased adoption.

The COVID-19 pandemic affected the contrast media injectors market. Many radiology departments saw a rapid dip in imaging case volume during the pandemic, resulting in a slump in demand for contrast media injectors. However, post-pandemic, organizations are gaining knowledge in their end-to-end supply chains to reduce product prices and improve the quality and services associated with contrast media injectors. Such operational ideas help organizations save money by eliminating third-party expenses, generating lucrative market growth prospects.

The key advantages offered by minimally invasive surgeries (MIS) include faster recovery, smaller incisions, lower risk of infections, minimal scarring, shorter hospital stays and reduced loss of blood during the procedure. These benefits are anticipated to boost the market during the forecast period. Additionally, minimally invasive procedures conducted with contrast media injectors provide real-time imaging and high quality, for surgical or diagnostic procedures, which can create significant opportunities for the surgeons to perform the surgical procedures in the appropriate area, augmenting the overall market. Moreover, a growing number of approvals for contrast media injectors by regulatory bodies, such as the U.S. FDA and the EU, are predicted to contribute to the market growth.

Browse through Grand View Research’s Medical Devices Industry Research Reports.

• The minimally invasive surgery market is anticipated to witness growth over the forecast period. Minimally invasive surgery has evolved to be the gold standard for low risk and highly efficient surgical interventions.
• The global clinical trials market size was valued at USD 80.7 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 6.49% from 2024 to 2030.

Contrast Media Injectors Market Segmentation

Grand View Research has segmented the global contrast media injectors market on the basis of product, type, application, end-use, and region:

Contrast Media Injectors Product Outlook (Revenue, USD Million, 2018 – 2030)

• Injector Systems
  • CT injector systems
  • MRI injector systems
  • Cardiovascular/angiography injector systems
• Consumables
  • Tubing
  • Syringe
  • Interventional Radiology

Contrast Media Injectors Type Outlook (Revenue, USD Million, 2018 – 2030)

• Single-head Injectors
• Dual-head Injectors
• Syringeless Injectors

Contrast Media Injectors Application Outlook (Revenue, USD Million, 2018 – 2030)

• Radiology
• Interventional Cardiology
• Interventional Radiology

Contrast Media Injectors End-use Outlook (Revenue, USD Million, 2018 – 2030)

• Hospitals
• Diagnostic Centers
• Ambulatory Surgery Centers

Contrast Media Injectors Regional Outlook (Revenue, USD Million, 2018 – 2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Denmark
  • Sweden
  • Norway
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Thailand
• Latin America
  • Brazil
  • Argentina
• MEA
  • South Africa
  • Saudi Arabia
  • UAE
  • Kuwait

Key Companies profiled:

• Bayer HealthCare LLC
• Bracco Group
• Ulrich Medical
• Guerbet Group
• Medtron AG
• Nemoto Kyorindo Co., Ltd.
• Hong Kong Medi Co Limited

Recent Developments

• In November 2023, Bracco partnered with ulrich medical for syringeless magnetic resonance injectors. This partnership helped Bracco to launch its product in the U.S. market.
• In November 2022, GE Healthcare and ulrich medical collaborated to offer multi-dose contrast media injectors in the U.S. This injector delivers iodinated contrast media for CT imaging procedures, reducing procedure setup time and increasing patient throughput.
• In November 2022, GE Healthcare announced an investment of USD 80 million to increase contrast media production capacity. By 2025, GE Healthcare aims to manufacture 30 million more doses of contrast media every year, which is anticipated to boost the market’s growth in the near future.
• In September 2019, Bayer launched the MEDRAD Stellant FLEX computed tomography (CT) injection system with an advanced injector system that drives individualized patient protocols and personalized imaging.

Order a free sample PDF of the Contrast Media Injectors Market Intelligence Study, published by Grand View Research.

Head-Up Display Industry Overview

The global head-up display market size was valued at USD 4.75 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 15.7% from 2023 to 2030.

The growth of the market is primarily driven due to the low cost of products and easy integration with smartphones, which enhances the safety of drivers by reducing distractions. Innovative solutions such as global positioning systems and augmented reality that can be integrated with the head-up display system further drive the industry’s demand. HUD is a transparent display that presents information in the driver’s line of sight without looking away from the road. HUDs were initially developed for aviation and military applications but are increasingly used in automobiles, commercial aircraft, and other wearables.

Gather more insights about the market drivers, restrains and growth of the Head-Up Display Market

The increase in the purchasing power of individuals due to growth in disposable income is expected to fuel the industry’s growth. The modern-age population is becoming more tech-savvy and accepting technologically advanced products that promote safer driving practices. Furthermore, increasing awareness regarding safety is a major factor driving further growth.

A typical head-up display consists of a projector unit, a display system, a programmed computer, and connecting chords. It is available in diverse types, such as fixed-mounted HUD, helmet-mounted HUD, and so on, and offers an advanced way of viewing navigation directions. The system can also be coupled with adaptive cruise control, a recent innovation in car transport systems, to offer the best safety systems.

The improved standard of living of the global population has resulted in increased affordability for premium cars, which has boosted the usage of head-up displays for navigation purposes. Though several automobile manufacturers offer head-up display systems as an additional feature, it may eventually become necessary for every car manufacturer to implement them for improved safety and enhanced user experience.

Browse through Grand View Research’s Display Technologies Industry Research Reports.

• The global augmented reality market size was valued at USD 57.26 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 39.8% from 2023 to 2030.
• The global artificial intelligence market size was estimated at USD 196.63 billion in 2023 and is projected to grow at a CAGR of 36.6% from 2024 to 2030.

Head-Up Display Market Segmentation

Grand View Research has segmented the global head-up display market based on application and region:

Head-up Display Application Outlook (Revenue in USD Million, 2017 – 2030)

• Automotive
  • Premium/Luxury Cars
  • Sports Cars
  • Basic & Mid-segment Cars
• Aviation
• Wearables
• Others

Head-up Display Regional Outlook (Revenue in USD Million, 2017 – 2030)

• North America
  • US
  • Canada
• Europe
  • UK
  • Germany
  • France
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa
  • United Arab Emirates (UAE)
  • Saudi Arabia
  • South Africa

Key Companies profiled:

• BAE Systems
• Continental AG
• DENSO CORPORATION
• Elbit Systems Ltd.
• Visteon Corporation
• YAZAKI Corporation
• Robert Bosch LLC
• Collins Aerospace
• Thales

Key Head-Up Display Company Insights

The market is highly competitive, and the players are undertaking strategies such as forecast launches, acquisitions, and collaborations to increase their global reach. For instance, in June 2023, Honeywell International Inc. acquired Saab’s heads-up display assets to enhance its avionics offerings. Under the agreement, Saab will collaborate with Honeywell to enhance and expand its HUD product line. Heads-up-display improves pilots’ situational awareness, particularly during challenging weather or nighttime conditions. This partnership will result in safer and more fuel-efficient flights, allowing passengers to reach their destinations more reliably.

Recent Developments

• In February 2023, AeroBrigham acquired the SkyDisplay HUD division from MyGoFlight and rebranded it as AeroDisplay. The company intends to further enhance the HUD by developing configurations for more Part 23 aircraft and Part 27 helicopters. AeroDisplay plans to incorporate engine and external load information into the HUD’s display for helicopters. Additionally, AeroDisplay integrates with thermal imaging systems, such as the Astronics Max-Viz enhanced flight vision system.
• In January 2023, HARMAN International launched HARMAN Ready Vision, a range of Augmented Reality (AR) head-up display hardware and AR software products. The AR software of Ready Vision integrates with vehicle sensors to provide immersive audio and visual alerts, delivering crucial information to the driver accurately and promptly without being disruptive. Additionally, the system utilizes computer vision and machine learning for precise 3D object detection, enabling the driver to receive non-intrusive warnings for potential collisions, blind spots, lane departures, lane changes, and low-speed zones.
• In May 2022, BAE Systems announced the launch of LiteWave, an innovative compact Head-Up Display (HUD) designed exclusively for aviation cockpits with restricted space. The HUD utilizes BAE Systems’ unique waveguide technology and is flexible to accommodate different flying postures. This function allows pilots to maintain situational awareness even in adverse weather or low visibility scenarios.

Order a free sample PDF of the Head-Up Display Market Intelligence Study, published by Grand View Research.

Decentralized Identity Industry Overview

The global decentralized identity market size was estimated at USD 647.80 million in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 90.3% from 2023 to 2030.

Privacy and security concerns have become increasingly prominent in today’s digital landscape. With traditional centralized identity systems, individuals have limited control over their data, which raises concerns about data breaches and unauthorized access. Decentralized identity (ID) solutions offer a more secure and privacy-centric approach by enabling individuals to own and control their digital identities.

Gather more insights about the market drivers, restrains and growth of the Decentralized Identity Market

The rise of blockchain technology has paved the way for decentralized identity solutions. Blockchain provides a transparent and immutable ledger that can securely store and verify identity information. This eliminates the requirement for intermediaries and creates a trustless environment where identity verification can be done directly between parties, reducing costs and improving efficiency. Moreover, increasing demand for frictionless and seamless user experiences is accentuating the acceptance of decentralized ID worldwide.

Traditional identity verification processes can be cumbersome, involving multiple usernames, passwords, and authentication methods. Decentralized identity solutions offer a single, portable digital identity that can be easily verified across different platforms and services, simplifying the user experience. Furthermore, regulatory requirements and compliance standards are expected to push organizations to adopt decentralized identity solutions. Regulations such as the California Consumer Privacy Act (CCPA) and General Data Protection Regulation (GDPR) in Europe require businesses to handle personal data responsibly and provide individuals with greater control over their data. Decentralized identity solutions align with these regulations by giving individuals ownership and control over their personal information.

Increasing digitalization of various industries, such as finance, healthcare, and e-commerce, is fueling demand for decentralized identity. These sectors require robust identity verification processes to ensure secure transactions and protect sensitive data. Decentralized identity solutions offer a reliable and tamper-proof method of identity verification. As a result, it mitigates risks associated with identity theft and fraud.

However, the challenge of widespread adoption and interoperability is restraining market growth. While decentralized identity solutions offer numerous benefits, transitioning from traditional identity systems to decentralized models can be complex and require a significant shift in infrastructure and user behavior. In addition, different decentralized identity platforms may also use different standards and protocols, leading to interoperability issues between systems. To overcome this restraint, industry collaboration and the development of open standards are essential. Stakeholders, including technology providers, industry associations, and regulatory bodies, need to work in unison to establish common frameworks and interoperability standards for decentralized identity.

Browse through Grand View Research’s Next Generation Technologies Industry Research Reports.

• The connected enterprise market was valued at USD 469.32 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 32.7% from 2024 to 2030.
• The global 3D Scanning market was valued at USD 3.95 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 9.8% from 2024 to 2030.

Decentralized Identity Market Segmentation

Grand View Research has segmented the global decentralized identity market based on identity type, end-user, enterprise size, vertical, and region:

Decentralized Identity Identity Type Outlook (Revenue, USD Million, 2019 – 2030)

• Biometrics
• Non-biometrics

Decentralized Identity End-user Outlook (Revenue, USD Million, 2019 – 2030)

• Individual
• Enterprises

Decentralized Identity Enterprise Size Outlook (Revenue, USD Million, 2019 – 2030)

• Large Enterprises
• Small & Medium Enterprises

Decentralized Identity Vertical Outlook (Revenue, USD Million, 2019 – 2030)

• BFSI
• Government
• Healthcare & Life Sciences
• Telecom & IT
• Retail & E-commerce
• Transport & Logistics
• Real Estate
• Media & Entertainment
• Travel & Hospitality
• Others

Decentralized Identity Regional Outlook (Revenue, USD Million, 2019 – 2030)

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • Kingdom of Saudi Arabia (KSA)
  • UAE
  • South Africa

Key Companies profiled:

• Microsoft Corporation
• Accenture plc
• Wipro Limited
• SecureKey Technologies Inc.
• Persistent Systems Limited
• Avast Software s.r.o.
• Civic Technologies, Inc.
• R3
• Validated ID, SL
• Dragonchain
• Nuggets
• 1Kosmos Inc.

Key Decentralized Identity Company Insights

The decentralized identity industry can be described as a highly competitive market due to the presence of several prominent market players. In efforts to improve their offerings, market firms pursue strategies such as new alliances, strategic agreements, and others. For instance, in January 2023, Quadrata, a Web3 identity solution, focused on enhancing compliance and reputation within public blockchains and established partnerships with nine prominent DeFi protocols. These protocols include Archblock, TrueFi, BSOS, Cred Protocol, Frigg.Eco, Chelo Finance, Chee Finance, CR Square, and SPACE. Through Quadrata’s passport network, users of each protocol will have access to robust identity verification services, ensuring a crucial layer of safety and security for their activities. This collaboration reinforces the commitment of Quadrata and partnered protocols to prioritize user protection and establish a trusted ecosystem within the decentralized finance space.

Players operating in the market are aggressively involved in emerging standards, protocols, and frameworks to allow interoperability and seamless integration of decentralized identity systems. Market players are also dedicated to augmenting user privacy, data security, and user-centric control over personal information. With continuous improvements in blockchain technology and growing requirements for secure digital identity solutions, competition among these players is expected to intensify as they strive to capture an important share of a growing market.

Order a free sample PDF of the Decentralized Identity Market Intelligence Study, published by Grand View Research.

Patient Monitoring Devices Industry Overview

The global patient monitoring devices market size was valued at USD 51.1 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 7.7% from 2023 to 2030.

The expansion of the industry can be attributed to the rise in demand for monitoring devices used to measure, distribute, record, and display a variety of biometric data, including blood pressure, temperature, and blood oxygen saturation level.

Gather more insights about the market drivers, restrains and growth of the Patient Monitoring Devices Market

Facilities focusing on shifting patient treatment modes from hospital care to homecare settings can help make treatments less expensive. Rapid advancements in treatments have led to an increase in the use of patient monitoring devices for at-home treatment of chronic diseases. The pandemic has accelerated this shift toward patient monitoring devices and provided companies with a unique chance to prove that their devices can make care more convenient, cheaper, and effective.

In the past few years, there has been rapid adoption of patient monitoring devices, especially during the COVID-19 pandemic, for continuous monitoring and analyzing vitals. Patient monitoring systems allow healthcare providers to keep patients’ health in check while at home or in a remote Digitalization of medical care can generate new revenues for healthcare practices and help lower overall healthcare costs. Remote monitoring devices also aided non-COVID-19 patients.

Browse through Grand View Research’s Medical Devices Industry Research Reports.

• The global robotic biopsy devices market size was valued at USD 424.3 million in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 13.6% from 2024 to 2030.
• The global radiofrequency identification (RFID) blood monitoring systems market size was valued at USD 251.5 million in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 17.9% from 2024 to 2030 owing to the increased need to enhance the safety and efficiency of blood transfusions.

Patient Monitoring Devices Market Segmentation

Grand View Research has segmented the global patient monitoring devices market based on product, end-use, and region:

Patient Monitoring Devices Product Outlook (Revenue, USD Billion, 2018 – 2030)

• Blood Glucose Monitoring Systems
  • Self-monitoring Blood Glucose Systems
  • Continuous Glucose Monitoring Systems
• Cardiac Monitoring Devices
  • ECG Devices
  • Implantable Loop Recorders
  • Event Monitors
  • Mobile Cardiac Telemetry Monitors
  • Smart/Wearable ECG Monitors
• Multi-parameter Monitoring Devices.
  • Low-acuity Monitoring Devices
  • Mid-acuity Monitoring Devices
  • High-acuity Monitoring Devices
• Respiratory Monitoring Devices
  • Pulse Oximeters
  • Spirometers
  • Capnographs
  • Peak Flow Meters
• Temperature Monitoring Devices
  • Handheld Temperature Monitoring Devices
  • Table-top Temperature Monitoring Devices
  • Wearable Continuous Monitoring Devices
  • Invasive Temperature Monitoring Devices
  • Smart Temperature Monitoring Devices
• Hemodynamic/Pressure Monitoring Devices
  • Hemodynamic Monitors
  • Blood Pressure Monitors
  • Disposables
• Fetal & Neonatal Monitoring Devices
  • Fetal Monitoring Devices
  • Neonatal Monitoring Devices
• Neuromonitoring Devices
  • Electroencephalograph Machines
  • Electromyography Machines
  • Cerebral Oximeters
  • Intracranial Pressure Monitors
  • Magnetoencephalograph Machines
  • Transcranial Doppler Machines
• Weight Monitoring Devices
  • Digital
  • Analog
• Other Patient Monitoring Devices

Patient Monitoring Devices End-use Outlook (Revenue, USD Billion, 2018 – 2030)

• Hospitals
• Ambulatory Surgery Centers
• Home Care Settings
• Others

Patient Monitoring Devices Regional Outlook (Revenue, USD Billion, 2018 – 2030)

• North America
  • US
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • Saudi Arabia
  • South Africa
  • UAE

Key Companies profiled:

• Honeywell
• American Telecare
• Roche
• Philips Healthcare
• Bosch
• Biotronik
• Intel
• Welch Allyn
• Health anywhere Inc.
• Johnson & Johnson
• Covidien Plc.

Key Patient Monitoring Devices Company Insights

The presence of numerous domestic and foreign competitors reflects the market’s intense competition. In 2021, Honeywell, American Telecare, Roche, Philips Healthcare, Johnson & Johnson, and Covidien Plc were the major market participants. Due to different strategic actions by key competitors, including mergers, acquisitions, partnerships, and collaboration by these firms, the industry is expanding. For instance, the FDA approved Neonatal RD SET Pulse Oximetry Sensors from Masimo Corporation in February 2020. Oximeters lessen severe neonatal retinopathy.

The need for the use of patient monitoring devices is rising as the number of diabetic patients rises. For instance, Abbott got FDA approval in June 2020 for the FreeStyle Libre 2 (iCGM) for adults and kids with diabetes in the United States. This device measures blood glucose levels every minute and offers a real-time alarm option that helps diabetic individuals monitor their blood glucose levels.

Also, major key players are investing in product launches and approval to monitor oxygen levels and other vital signs during the COVID-19 pandemic. Remote patient monitoring technologies can transmit and track the patient’s vital signs which can provide real-time insights to patients to determine the next step during the COVID-19 pandemic.

Recent Developments

• In April 2023, GE HealthCare’s CARESCAPE Canvas Patient Monitoring Platform received FDA clearance. CARESCAPE Canvas and CARESCAPE ONE will contribute to the generation of a scalable platform that can easily adapt monitoring capabilities based on the acuteness of each individual patient’s disease.
• In June 2022, Abbott received FDA approval for the FreeStyle Libre 2 (iCGM) for adults and kids with diabetes in the United States. This device measures blood glucose levels every minute and offers a real-time alarm option that helps diabetic individuals monitor their blood glucose levels.
• In May 2022, Shenzhen Mindray Bio-Medical Electronics Co., Ltd. launched mWear, a new wearable patient monitoring device. The device offers two monitoring options—wearable mode and continuous mode so that careers can receive patient status updates in accordance with customized settings.

Order a free sample PDF of the Patient Monitoring Devices Market Intelligence Study, published by Grand View Research.

Modular Construction Industry Overview

The global modular construction market size was estimated at USD 90.79 billion in 2022 and is expected to register a growth of 7.5% over the forecast period.

This growth is attributed to the growing demand for affordable housing coupled with the increasing investment in the development of healthcare and commercial infrastructure around the globe. Off-site building activities in the urban regions are also growing, which is further driving the growth of modular construction market. Off-site building is not affected by weather conditions as they are manufactured within closed factories using advanced machinery, thereby, optimizing the construction time and providing high-quality products. The aforementioned benefits of off-site building make modular construction cost-effective and contribute to less site-generated waste.

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Rapid urbanization and industrialization are expected to increase the number of new projects, primarily in the commercial and industrial sectors. This is likely to fuel the growth of the construction industry across the globe. Increasing technological advancements in building industry coupled with the advantages provided by modular construction such as reduced building schedule, reduced cost, greater flexibility, reuse, and less material waste are contributing to the product demand.

The U.S. market is expected to grow both in terms of the number of building units and revenue. Several multinational companies are investing in advanced modular construction technologies such as Building Information Modeling (BIM), artificial intelligence (AI), Internet of Things (IoT), 3D printing, and real-time data analytics for cost savings. Additionally, to provide multifamily residential structures, the U.S. government and companies are investing heavily in modular construction sector, thus boosting the market growth.

Modular construction enables the completion of a project in less than half of the time taken by traditional construction methods. In a time of crisis like the COVID-19 pandemic, time is invaluable in building new healthcare set-ups. Several countries are adopting and approving modular construction techniques for hospitals and treatment centers.

Modular construction enables industries to customize their designs and utilize the latest innovations in style and functionality. Before the development of modular construction, industries were compelled to spend countless man-hours on planning and designing, while actual construction took months or years to complete. Modular construction takes the guesswork out of the planning stages and simplifies building to a large extent, reducing the time from conception to completion by months or more.

Browse through Grand View Research’s Advanced Interior Materials Industry Research Reports.

• The global nanoimprint lithography system market size was valued at USD 106.7 million in 2023, growing at a CAGR of 8.9% over the forecast period from 2024 to 2030.
• The global semiconductor dry etch systems market size was estimated at USD 15.11 billion in 2023 and is anticipated to grow at a CAGR of 5.8% from 2024 to 2030.

Modular Construction Market Segmentation

Grand View Research has segmented the global modular constructionmarket report based on product, material, application, and region:

Modular Construction Product Outlook (Revenue, USD Million; 2018 – 2030)

• Relocatable
• Permanent

Modular Construction Material Outlook (Revenue, USD Million; 2018 – 2030)

• Wood
• Steel
• Concrete
• Others

Modular Construction Application Outlook (Revenue, USD Million; 2018 – 2030)

• Residential
• Commercial
• Industrial
• Healthcare
• Educational

Modular Construction Regional Outlook (Revenue, USD Million; 2018 – 2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • Sweden
• Asia Pacific
  • China
  • India
  • Japan
  • Singapore
  • Australia
• Central & South America
  • Brazil
• Middle East & Africa
  • Saudi Arabia
  • UAE

Key Companies profiled:

• Sekisui House Ltd.
• LAING O’ROURKE
• Red Sea International
• Skanska
• Bouygues Construction
• Premier Modular Limited
• KLEUSBERG GmbH & Co KG
• DuBox
• Wernick Group
• CIMC Modular Building Systems Holdings Co., Ltd. (CIMC-MBS)
• Riko Hiše d.o.o
• Lendlease Corporation
• Modulaire Group
• Guerdon, LLC
• Hickory Group

Order a free sample PDF of the Modular Construction Market Intelligence Study, published by Grand View Research.

Carbon Fiber Industry Overview

The global carbon fiber market size was valued at USD 4.66 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 10.9% from 2023 to 2030.

This growth is attributed to the growing adoption of carbon fiber in automotive and aerospace applications. Increasing automotive demand coupled with the rising need for lightweight vehicles is expected to fuel the demand over the forecast period. The need for fuel-efficient vehicles along with government regulations limiting or restricting automotive pollution are anticipated to play a key role during the forecast period.

Gather more insights about the market drivers, restrains and growth of the Carbon Fiber Market

The growing aerospace industry in countries across the Asia Pacific and Europe is also projected to fuel the growth. Rising demand for commercial aviation on account of increased disposable income and globalization has driven growth across the aerospace industry over the last few years. This trend is likely to continue over the forecast period as well. The surge in demand for sports and leisure applications, especially in the Asia Pacific region, is also likely to increase the product scope.

Carbon fiber products play an essential role in manufacturing automotive and aircraft parts. Growing concerns regarding fuel consumption and CO2 emission levels have urged manufacturers to use carbon fiber composite materials as substitutes for metal components. Technological innovations to minimize the manufacturing cycle time are expected to propel the demand for carbon fiber in the automotive sector.

The energy crisis has forced various end-users to use carbon fiber for increasing the energy efficiency of products. A surge in product demand across aerospace and wind turbine applications is expected to boost the global market growth over the forecast period. Moreover, rising governmental support toward the installation of wind turbines is projected to positively influence the demand for carbon fiber. The growth of the commercial aviation segment is also expected to propel the demand for carbon fiber in aerospace applications over the forecast period.

Browse through Grand View Research’s Specialty Glass, Ceramic & Fiber Industry Research Reports.

• The global carbon thermoplastic composites market size was valued at USD 6.22 billion in 2023 and is projected to grow at a CAGR of 6.6% from 2024 to 2030.
• The global pressure vessels market size was valued at USD 56.16 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 3.8% from 2023 to 2030.

Carbon Fiber Market Segmentation

Grand View Research has segmented the carbon fiber market on the basis of raw material, tow size, application, and region:

Carbon Fiber Raw Material Outlook (Volume, Tons; Revenue, USD Million; 2018 – 2030)

• PAN Based
• Pitch Based

Carbon Fiber Tow Size Outlook (Volume, Tons; Revenue, USD Million; 2018 – 2030)

• Small Tow
• Large Tow

Carbon Fiber Application Type Outlook (Volume, Tons; Revenue, USD Million; 2018 – 2030)

• Automotive
• Aerospace & Defense
• Wind Turbines
• Sports/Leisure
• Molding & Compound
• Construction
• Pressure Vessel
• Others

Carbon Fiber Regional Outlook (Volume, Tons; Revenue, USD Million; 2018 – 2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • UK
• Asia Pacific
  • China
  • Taiwan
  • Japan
• Central & South America
  • Brazil
• Middle East & Africa

Key Companies profiled:

• A&P Technology Inc.
• Anshan Sinocarb Carbon Fibers Co. Ltd
• DowAksa USA LLC
• Formosa Plastics Corporation
• Hexcel Corporation
• Holding company Composite
• Hyosung Advanced Materials
• Jiangsu Hengshen Co. Ltd
• Mitsubishi Chemical Corporation
• Nippon Graphite Fiber Co. Ltd
• SGL Carbon
• Solvay
• Teijin Limited
• Toray Industries Inc.
• Zhongfu Shenying Carbon Fiber Co. Ltd

Key Carbon Fiber Company Insights

The key industry players focus on enhancing strategic partnerships to develop new products as well as achieve a competitive advantage over other market participants. Various other manufacturers in the U.S. and various countries in Europe have recently developed or adopted carbon fiber manufacturing technologies and have marked their presence in the global carbon fiber industry.

The major players operating in the market are integrated throughout the value chain. The companies have streamlined their operations to procure raw materials and also manufacture the product, to reduce the product price.

Order a free sample PDF of the Carbon Fiber Market Intelligence Study, published by Grand View Research.