Tag: MarketsandMarkets

The Lactase Market is estimated to be valued at USD 247 million in 2022. It is projected to reach USD 336 million by 2027, at a CAGR of 6.3%, in terms of value between 2022 and 2027 according to a new report by MarketsandMarkets. Lactase enzyme is used in the food and beverage industry to hydrolyze lactose found in milk and dairy products. The lactase enzyme is obtained from different sources which have high activity and enzyme stability which can sustain the fermentation process during manufacturing. A significant increase in the number of people suffering from lactose intolerance is driving up the demand for lactose-free products. This is one of the most important factors influencing the demand for lactase enzymes for the manufacturing of lactose-free products. Further, an increase in R&D activities by key players to provide affordable and sustainable solutions to the stakeholders in the value chain is expected to drive the market.

MarketsandMarkets a revenue impact advisory firm was presented with an award in the ‘Company of the Year – Business or Professional Services – Large’ category at the prestigious 19th Annual International Business Awards London.

The Stevie Awards are widely considered to be the world’s premier business awards, conferring recognition for achievement in programs such as The International Business Awards^® for 20 years. More than 3700 nominations from organizations of all sizes and in virtually every industry, in 67 nations, were considered in this year’s competition. Winners were determined by the average scores from top professionals worldwide in specialized judging committees.

Details about the Asia-Pacific Stevie Awards are available at –

https://stevieawards.com/iba

Farm Equipment Market is projected to grow from USD 111.8 billion in 2022 to USD 141.6 billion by 2027, at a CAGR of 4.8% during the forecast period, according to a new report by MarketsandMarkets. An increase in farm mechanization, government support with farm loan waivers/credit finance, contract farming, and a shortage of skilled labor are the key factors driving farm equipment growth globally.

Browse in-depth TOC on “Farm Equipment Market”
333 – Tables
59 – Figures         
349 – Pages

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The demand for electric & autonomous tractors and the rising demand for farm equipment rental services would create growth opportunities in the Farm Equipment Market.

Battery electric tractors would lead the future of the tractors industry

To meet the stringency of Non-Road Mobile Machinery (NRMM) emission regulations, the OEMs are developing hybrid and electric farm tractors. Hybrid electric farm tractors use a diesel engine and a regenerative energy storage system that helps increase fuel efficiency and offers the required propulsion in heavy-duty applications. Alternatively, the pure battery electric tractors would run on battery power only. Hybrid electric tractors can offer 35-40% savings on annual fuel expenditures. Challenges such as high battery cost, limitations in battery technology and limited possible applications of battery electric tractors would slow down the demand for these tractors for the next 3-4 years. However, the benefits such as energy efficiency, high torque, low emission, and low maintenance of electric tractors would boost their demand in the long run.

The 31-70 HP farm tractor would hold the largest share in the rental market

Tractors hold the largest share among all the rented farm equipment. Companies collaborate with application companies to promote leasing businesses and encourage farmers to use farm equipment at affordable prices. The North American and European countries have a higher demand for tractor rental compared to developing regions. The demand for high-powered tractors is higher in European countries, whereas Asian countries demand low-powered tractor rental. For instance, demand for >50 HP tractors is more for rental purposes, as they are used for multiple implements. According to Agri Evolution Report 2020, the rental market for 31-70 HP tractors is higher in India, China, and other Asia-Oceania countries.

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Asia Oceania is estimated to be the dominant regional market

Farmers in the Asia Oceania region are increasingly producing rice and crops such as palm and cotton. Further, a shift from adopting labor-intensive farming techniques to advanced technological equipment in the agricultural sector across the Asia Oceania countries has led to increasing demand for tractors and various farming equipment such as harvesters and spraying and threshing equipment for the renting purpose. Increasing government efforts to promote farm mechanization, contract farming, and loan waivers would also to drive the market. Investments in various agricultural machinery have also increased crop production, particularly in developing countries such as India, China, Vietnam, and Indonesia. India is the largest market for tractors in the world. The rolling out of government schemes and loan waivers for farmers and the promotion of farm mechanization would boost the Indian tractor market. Regulations would mainly drive the Indian farm industry.

Key Market Players

The Farm Equipment Market is consolidated. John Deere (US), AGCO Corporation (US), CNH Industrial (UK), Kubota Corporation (Japan), and CLAAS (Germany) are the top players in the Farm Equipment Market. New product development, partnership, and joint venture strategy have been the most dominating strategy adopted by major players from 2018 to 2022, which helped them to innovate their offerings and broaden their customer base.

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Construction Equipment Market by Type (Excavator-Crawler & Mini; Loader-Backhoe, Skid-steer, & Wheel; Dozer, Dump Truck, Compactor, Crane), Electric Equipment, Propulsion, Power Output, Rental, Aftertreatment Device and Region – Global Forecast to 2027

According to the report “Small-Scale LNG Market by Type (Liquefaction, Regasification), Application (Heavy-Duty Vehicles, Industrial & Power, Marine Transport), Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America) – Global Forecast to 2025″, published by MarketsandMarkets, the market is expected to grow from USD 2.3 billion in 2020 to USD 2.6 billion by 2025, at a CAGR of 2.6%, during the forecast period. The major factors driving the market include energy cost advantage of LNG, environmental benefits, and growing demand from various applications such as heavy-duty vehicles, industrial & power, and marine transport.

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Liquefaction to dominate the global small-scale LNG market during the forecast period

The small-scale LNG industry has been segmented based on type as liquefaction and regasification. The liquefaction segment accounted for the larger share of the market in 2019. The growth in this segment is attributed to the increasing export of LNG, which requires liquefaction before it can be transported from one port to another. The growing number of liquefaction terminals across the globe is likely to increase due to the increasing demand for LNG. These factors are expected to drive the demand for small-scale LNG during the forecast period.

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Heavy-duty vehicles segment to lead the global small-scale LNG market during the forecast period

The market has been segmented based on application into heavy-duty vehicles, marine transport, industrial & power, and others. The heavy-duty vehicles segment accounted for the largest share of the market in 2019 and is expected to witness significant growth during the forecast period. The growth in this segment is attributed to the increasing use of LNG as fuel in heavy-duty vehicles, especially in China and European countries. LNG is the most viable option for long-haul LNG-fueled trucks globally. In heavy-duty vehicles, the density of LNG can vary considerably over a range of saturation pressures and storage temperatures. These factors are expected to drive demand during the forecast period.

APAC is expected to have the largest market size in the global small-scale LNG market during the forecast period

APAC is projected to be the leading small-scale LNG industry, globally, during the forecast period. The growth in the APAC region can be attributed to the rising demand from heavy-duty vehicles and industrial & power sectors. The presence of a robust industrial base, favorable government policies, and low labor costs along with growing demand for small-scale LNG in the region are further strengthening the market and attracting major players to invest in the region.

The Linde Group (Germany), Wartsila Corporation (Finland), Honeywell International Inc. (US), General Electric (US), Engie (France), and Gazprom (Russia) among others are the key players operating in the small-scale LNG market.

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Browse Adjacent Markets: Chemical Market Research Reports &Consulting

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LNG Storage Tank Market by Type (Self-Supporting, Non Self-Supporting), Material (Steel, 9% Nickel Steel, Aluminum Alloy), Region (North America, Europe, APAC, Middle East & Africa, South America) – Global Forecast to 2025

https://www.marketsandmarkets.com/Market-Reports/lng-storage-tank-market-16169135.html

According to the new market research report “Biostimulants Market by Active Ingredients (Humic Substances, Seaweed Extracts, Microbial Amendments, Amino Acids), Mode of Application (Folier, Soil Treatment, Seed Treatment), Form (Liquid, and Dry), Crop Type, & by Region – Global Forecast to 2026”, published by MarketsandMarkets, the market is estimated at USD 3.2 billion in 2021; it is projected to grow at a CAGR of 12.1% to reach USD 5.6 billion by 2026. Biostimulants aid the efficiency of the plant’s metabolism, increase a plant’s natural tolerance to stressors like pests and disease and propel faster recovery from stressful events, such as bad weather. Presently agriculture practices have advanced in the last decade to become not only more sustainable, but climate-wise too. To further drive the trends in sustainable agriculture software-as-a-service solutions for orchard management, yield monitoring and estimation and the growth of farm management integrated platforms are being rapidly developed. With rapid growth of the integrated management practices the use of biostimulants for farming is estimated to grow.

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The amino acids sub-segment is estimated to account for the largest market share in the by active ingredient segment for the biostimulants market.

For the production of biostimulants, amino acids can be obtained through chemical synthesis of plant proteins and by enzymatic hydrolysis of animal proteins. Amino acids are the monomers of the protein chain being involved in many plant physiological processes, such as metabolic and nutrient transport functions. Plants have the ability to produce amino acids, but the process of synthesis is tedious and slow, which can be overcome by external application of amino acids. Thus their larger use is estimated to account for their higher market shares.

By mode of application, the seed treatment sub-segment is estimated to account for the fastest growth in the biostimulants market.

Application of biostimulants as seed treatment aids to reduce environmental stress at the time of sowing, and improving yield, all starting from seed germination. These benefits of seed treatment are driving their growth in the biostimulants market.

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343 – Pages

The liquid sub-segment by form is estimated to account for the largest market share of the biostimulants market over the forecast period.

Liquid biostimulants are manufactured on large industrial scale levels and also can be developed according to the increasing demands without further addition to manufacturing costs. Ease of application, and transports are some of the driving factors for their growth in the biostimulants market. Major companies that manufacture liquid-based biostimulants include UPL (India), Koppert (Netherlands), BASF SE (Germany).

The cereals & grains sub-segment is estimated to observe the fastest market growth in the biostimulants market during the forecast period.

The global production of cereals and grains is ever-increasing and simultaneously with the increase in population and per capita income of the countries such as India, China, Japan the Asian region the populations there are increasingly becoming aware of agricultural sustainability and consumption of nutritious and organically produced food, thus their market is projected to grow speedily.

Europe is estimated to be the largest market.

The EU has boosted many biostimulant companies in Europe who have been expanding their global network to reach the untapped market. The region has also launched the “European Green Deal” initiative under which aims to expand the use of sustainable practices such as precision agriculture, organic farming, agroecology, agro-forestry and stricter animal welfare standards. Further the new Farm to Fork Strategy aims at reducing the environmental and climate footprint of the EU food system, strengthening its resilience, ensuring food security, facilitating the transition towards competitive sustainability from farm to fork and making use of new business opportunities.

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Key Players:

Key players in this market include BASF SE (Germany), UPL (India), Valagro S.p.A (Italy), Gowan Group (US), FMC Corporation (US), ILSA S.p.A (Italy), Rallis India Limited (India), and Haifa Group (Israel). These players in this market are focusing on increasing their presence through agreements and collaborations. These companies have a strong presence in North America, Asia Pacific and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.

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Biofertilizers Market by Form (Liquid, Carrier-Based), Mode of Application (Soil Treatment, Seed Treatment), Type (Nitrogen-fixing, Phosphate solubilizing & Mobilizing, Potash Solubilizing & Mobilizing), Crop Type, and Region – Global Forecast to 2026

https://www.marketsandmarkets.com/Market-Reports/compound-biofertilizers-customized-fertilizers-market-856.html

Biological Seed Treatment Market by Type (Microbials and Botanicals), Crop (Corn, Wheat, Soybean, Cotton, Sunflower, and Vegetable Crops), Function (Seed Protection and Seed Enhancement), and Region – Global Forecast to 2025

https://www.marketsandmarkets.com/Market-Reports/biological-seed-treatment-market-162422288.html

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