Personal Goods Repair And Maintenance Market Definition And Segments

Personal goods repair and maintenance refer to the service of repair and maintenance of such goods that are primarily used for personal, family, and household purposes. Repair and maintenance can help identify any environmental problems and root causes of failure, and saves the cost of new piping and foundation changes. The main types of personal goods repair and maintenance are home and garden equipment repair and maintenance, appliance repair and maintenance, reupholstery and furniture repair, footwear and leather goods repair, and other personal and household goods repair and maintenance. Organizations engaged primarily in repairing and maintaining home and garden equipment and household appliances make up the home and garden equipment repair and maintenance business. Lawnmowers, edgers, ice and leaf cleaners, washing machines and dryers, and freezers are all repaired and maintained by businesses in this field. The different modes include online, and offline and involve various service types such as inspection, maintenance, and repair. The personal goods repair and maintenance market covered in this report is segmented – 1) By Type: Home And Garden Equipment Repair And Maintenance, Appliance Repair And Maintenance, Reupholstery And Furniture Repair, Footwear And Leather Goods Repair, Other Personal And Household Goods Repair And Maintenance 2) By Mode: Online, Offline 3) By Service: Inspection, Maintenance, Repair The personal goods repair and maintenance market size has grown strongly in recent years. It will grow from $148.08 billion in 2023 to $158.43 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to rise in disposable income, strong economic growth in emerging markets, rapid urbanization, increased internet penetration, and increased availability of mobile devices. The personal goods repair and maintenance market size is expected to see strong growth in the next few years. It will grow to $203.5 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to growing sense of sustainability, higher purchase cost of new products, growing personal goods failure rate and cost-benefit associated with repairing old goods, increasing government regulations for waste management. Major trends in the forecast period include companies should focus on adopting IoT for their operations to enhance efficiency and to keep track of the real-time status of devices, implementing ar-based procedures to enhance their performance, consider merging with financial and other household appliances companies to strengthen their financial stability and enhance their performance, consider adopting predictive maintenance solutions to reduce breakdowns and improve efficiency by predicting parts failures in advance.

Household Gardening Boosts Growth Of Personal Goods Repair And Maintenance Market

An increase in household gardening is expected to propel the growth of the personal goods repair and maintenance market. The practice of maintaining and growing a garden, especially as a hobby is referred to as gardening. Gardening tools require regular maintenance and remain in good working condition with routine maintenance. In addition to being sharp, tools also need to be pristine and antiseptic. Tools can spread bacterial, fungal, or insect infestations across the garden if they come into contact with plants or soil that has such issues. With an increase in the number of people involved in gardening, the need for the maintenance of gardening equipment is also rising. For instance, according to RubyHome a US-based luxury real estate brokerage firm, 55% of American households engage in gardening activities and maintain a garden in their house. Nearly 18.3 million U.S. households started gardening in 2021. In addition, according to 2021 research among 1,023 Canadian adults, conducted by the Agri-Food Analytics Lab at Dalhousie University, a public research university in Canada, 51% of respondents said they grew at least one variety of fruit or vegetable in a garden. Of those, 17.4% started growing food at home in 2020 during COVID-19. In addition, 67% of new gardeners in 2020 agreed that the pandemic influenced their decision to start gardening. Therefore, the increase in household gardening is expected to drive the personal goods repair and maintenance market going forward.

Rapid Urbanization Boosts Growth Of Personal Goods Repair And Maintenance Market

Rapid urbanization is expected to propel the growth of the personal goods repair and maintenance market going forward. Urbanization is a phenomenon characterized by the growing concentration of population in urban areas, primarily driven by migration and the preference of more individuals to settle in cities rather than rural areas. Urban dwellers often have busy lifestyles and limited time for DIY (do-it-yourself) repairs, making them more likely to seek professional assistance for their maintenance needs. For instance, in 2022, according to the World Bank, a US-based financial institution, over 50% of the world's population will reside in urban areas. Projections indicate that this number is anticipated to grow by 1.5 times, reaching 6 billion by the year 2045. Therefore, rapid urbanization is driving the growth of the personal goods repair and maintenance market. Major companies operating in the personal goods repair and maintenance market report are Frontdoor Inc., Mr. Appliance, Furniture Medic, Lee Company, Home-Tech Consolidated, Inc., NuShoe, Pride Air Conditioning & Appliance, Inc., Arista Air Conditioning Corp., One Hour Heating & Air Conditioning, Bhangar Wala Enterprises Private Limited, Finvictus India Private Limited, Rich Life Trading Private Limited, Imexture Trade India Private Limited, Shanxi Sida Yungui Mechanical & Electrical Engineering Co., Ltd., Zhejiang Materials Industry, Zhejiang Yasha Decoration Co., Ltd., Melbourne Digital Television Services, D.K Computer Solution, Shanghai Trendzone Construction Decoration Group Co., Ltd., Huizhou Huijinlong Mechanical & Electrical Repairing Co., Ltd., Domex appliances services, Glotech repairs, capital Repairs, UK Service home AEID services, MESURE PROCESS, Libre Service Casiers Maintenance, Slak, Hamitouche Hayat, Depannage, SARL Arcade Multiservices, Repair World Direct, Square Trade, Electronix Services, Meggitt PLC, MRO services, Feba Electronics Repair Service, Hilti Group, Holcim, Lufthansa Technik, Ufa, Mendtronix Inc., The Cableshoppe Inc., uBreakiFix, iCracked, Inc., P.C. Richard & Son, Inc., Daikin Holdings America Inc., Otis Worldwide Corporation, Terminix Global Holdings, Inc., Schindler Elevator Corporation, Evernex, Quanta services, Emcor Group Inc., MYR Group, MMR Group Inc., Encompass Supply Chain Solutions, B2X Care Solutions, Moduslink Global Solutions, Redington Services, Quest International Inc

Growing Role Of Advanced Mobile Apps For Connection Between Consumers And Appliance Repair Professionals

Mobile apps are being adopted to connect consumers with appliance repair professionals. Several personal goods repair and maintenance companies are offering apps to better connect with customers and increase their reach locally. The apps tap into the current consumer trend of instinctively reaching out to their mobile phones at a moment’s notice to search for and order goods. For example, Serviz, an app for home services offers personal goods repair services with prices in some of the major American metropolitan areas. The plumber’s app allows consumers to search for nearby plumbers and send repair or maintenance requests.

Increasing Focus On Introducing Self-Service Repair To Gain A Competitive Edge

Major companies operating in the personal goods repair and maintenance market are focused on developing innovative solution such as self-service repair to gain a competitive edge in the market. The advantage of self-service repair is that it allows individuals to take control of fixing or maintaining their own belongings or systems without the need for professional assistance. For instance, in November 2021, Apple Inc., a US-based technology company, announced its self-service repair program. This program allows customers who are comfortable completing their own repairs to access Apple's genuine parts and tools. To use the self-service repair program, customers first review the repair manual for the product they want to repair. Asia-Pacific was the largest region in the personal goods repair and maintenance market in 2023. Western Europe was the second-largest region in the personal goods repair and maintenance market. The regions covered in the personal goods repair and maintenance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the personal goods repair and maintenance market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa The personal goods repair and maintenance market consists of revenues earned by entities that provide services such as Air-conditioners, window, repair and maintenance services, Furniture refinishing shops, Furniture reupholstering shops, Garden tool sharpening and repair services, Tool, home and garden, sharpening and repair services without retailing new home and garden tools. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The personal goods repair and maintenance market research report is one of a series of new reports from The Business Research Company that provides personal goods repair and maintenance market statistics, including personal goods repair and maintenance industry global market size, regional shares, competitors with a personal goods repair and maintenance market share, detailed personal goods repair and maintenance market segments, market trends and opportunities, and any further data you may need to thrive in the repair and maintenance of the personal goods industry. This personal goods repair and maintenance market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Electric Motors Market Definition And Segments

The electric motor is defined as an electric machine that converts electrical energy into mechanical energy and supplies power to the devices. It works on the principles of electromagnetism with properties such as durability, high efficiency, low energy consumption, and low maintenance. The main types of electric motors are alternate current (AC) motor, direct current (DC) motor, and hermetic motor. A hermetic motor contains both the compressor and the motor within a single outer welded steel shell. The motor and compressor are connected directly on the same shaft, with the motor located within the refrigeration circuit. As a result, the need for a shaft seal and the resulting refrigerant leakage problem was eliminated. Welding or brazing is used to connect all refrigerant pipelines to the outer steel shell. The voltage of an electric motor ranges from 9v and below, 10-20 v, 21-60 v, 60 v, and above, and various output power are integral horsepower (IHP) and fractional horsepower (FHP). The different speeds of the electric motor are low-speed (less than 1,000 rpm), medium-speed (1,001 to 25,000 rpm), high-speed (25,001 to 75,000 rpm), ultra-high-speed (greater than 75,001 rpm) that are used for industrial machinery, motor vehicle, HVAC equipment, aerospace and transportation, household appliances, other commercial applications. The electric motors market covered in this report is segmented – 1) By Type: Alternate Current (AC) Motor, Direct Current (AC) Motor, Hermetic Motor 2) By Output Power: Integral Horsepower (IHP), Fractional Horsepower (FHP) 3) By Application: Industrial Machinery, Motor Vehicle, HVAC Equipment, Aerospace & Transportation, Household Appliances, Other Commercial Applications Sub-Segments- By Voltage Range: 9v & Below, 10-20 v, 21-60 v, 60 v And Above By Speed: Low-Speed (less than 1,000 rpm), Medium-Speed (1,001 to 25,000 rpm), High-Speed (25,001 to 75,000 rpm), Ultra-High Speed (greater than 75,001 rpm) The electric motors market size has grown steadily in recent years. It will grow from $103.21 billion in 2023 to $107.6 billion in 2024 at a compound annual growth rate (CAGR) of 4.3%. The growth in the historic period can be attributed to industrial revolution, electrification of industries, transportation and automotive industry, consumer appliances and home automation. The electric motors market size is expected to see steady growth in the next few years. It will grow to $124.35 billion in 2028 at a compound annual growth rate (CAGR) of 3.7%. The growth in the forecast period can be attributed to electrification of transportation, industrial automation, renewable energy, energy efficiency regulation, iot and smart systems. Major trends in the forecast period include high-efficiency motors, miniaturization, sensor integration, sustainable materials, customization and modular design.

Surge In Electric Vehicle Sales Fuels Growth In The Electric Motors Market

An increase in the sale of electric vehicles is expected to propel the growth of the electric motors market. An electric vehicle (EV) is a vehicle that is entirely or partially powered by electricity. The growing popularity of electric vehicles drives the demand for electric to drive the wheels. For instance, in May 2023, according to the International Energy Agency (IEA), a France-based independent intergovernmental organization, there were 10 million electric vehicles sold in 2022, and the number of electric vehicles sold increased to 14 million in 2023. Therefore, the growing demand for electric vehicles (EVs) is driving the growth of the electric motors market going forward.

Increasing Demand For Electricity Supply And Its Significance In The Electric Motors Market

The increasing demand for electricity supply is expected to propel the growth of the electric motor market going forward. Electricity supply refers to the process of generating, transmitting, and distributing electrical energy to end-users or consumers for various applications, such as powering homes, businesses, industries, and transportation. Electric motors use electricity to operate effectively and efficiently and are used in fans, power tools, appliances, electric vehicles, and hybrid cars. For instance, in June 2023, according to the U.S. Energy Information Administration, a US-based government agency, in the US, electricity sales were 3,909 billion kWh (kilowatt-hour)—or about 3.9 trillion kWh (kilowatt-hour) in 2022, which has increased from 103 billion kWh (kilowatt-hour) in 2021. Therefore, the increasing demand for electricity supply is driving the growth of the electric motor market. Major companies operating in the electric motors market include Asea Brown Boveri (ABB) Ltd., ARC Systems Inc., Asmo Co. Ltd., Brook Crompton UK Ltd., Emerson Electric Co., Regal Beloit Corporation, Rockwell Automation Inc., Siemens AG, Ametek Inc., Baldor Electric Company Inc., Allied Motion Technologies Inc., Franklin Electric Co. Inc., Johnson Electric Holdings Limited, Robert Bosch GmbH, Denso Corporation, Toshiba International Corporation, General Electric Company, Nidec Corporation, WEG S.A., Hitachi Ltd., Hyosung Corporation, Danaher Corporation, Teco Electric Machinery & Co., Dr. Fritz Faulhaber GmbH Co. KG, Maxon Motor AG, Mitsubishi Electric, Panasonic, Shandong, Buhler Motor Gmbh, BorgWarner Inc., Continental AG, Schneider Electric SE, Sumitomo Heavy Industries Ltd., Yaskawa Electric Corporation, Zhejiang Founder Motor Co. Ltd., Marathon Electric, Kirloskar Electric Company Limited

Tariff Hurdles In The Electric Motors Market

Increased tariffs on raw materials such as steel and aluminum will restrain the market for motor manufacturing in the forecast period. Steel and aluminum are predominantly used in the manufacture of components for motors. Increasing import tariffs on raw materials such as steel hindered the market for household fans. For instance, in 2021, according to The Hindu, the Aluminum Association of India had requested an increase in the tariff rate of basic customs duty for Aluminum and articles from 10 to 15%.

Rise Of IOT-Enabled Smart Motors In The Electric Motors Market

Motor manufacturing companies are increasingly manufacturing IoT-enabled smart motors. These motors are equipped with sensors that monitor and track the motor’s health and performance. Sensors are connected to a control database that continuously collects data, and uses artificial intelligence (AI) to learn normal behavior and sends an alert upon detecting any deviation from normal behavior. Smart motors offer several benefits such as increased lifespan of equipment and improved safety.

Significance Of Innovation In Electric Motor Technology

Major companies operating in the electric motor market are focusing developing innovating products, such as the EA 193 Series permanent magnet electric motors, to provide reliable services to customers. The EA 193 Series permanent magnet electric motor is an electrified automation electric motor with 193 Series automated manufacturing technology. In July 2023, Electrified Automation Ltd., a US-based manufacturing technology company, launched the EA 193 Series permanent magnet electric motors. The EA 193 Series permanent magnet electric motor is an electric motor designed for a range of applications, from two-wheel-on-road to industrial. This uses next-generation permanent magnet electric motor technology.

Renault Group Strategic Acquisition Of Whylot For Automotive Electrification

In November 2021, Renault Group, a France-based automotive company acquired Whylot for an undisclosed amount. Through this acquisition, Renault Group aims to develop and industrialize an innovative axial-flow automotive e-motor and a breakthrough technology for electrified applications. Whylot, a France-based company specializing in innovative electric motors. Asia-Pacific was the largest region in the electric motors market in 2023. Western Europe was the second-largest region in the electric motors market. The regions covered in the electric motors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the electric motors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada The electric motors market consists of sales of rotor, bearings, stator, air gap, windings, commutator, and other electric motors. Devices that use electric motors consist of fans, blowers, household appliances, disk drives, batteries and power tools, machine tools, domestic appliances, HVAC applications, electric cars, and automated robots. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The electric motors market research report is one of a series of new reports from The Business Research Company that provides electric motors market statistics, including electric motors industry global market size, regional shares, competitors with an electric motors market share, detailed electric motors market segments, market trends and opportunities, and any further data you may need to thrive in the electric motors industry. These electric motors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Household Fans Market Definition And Segments

A household fan is defined as a device that consists of a rotating arrangement of blades designed to circulate air throughout an entire room. The main types in the household fans manufacturing market are ceiling fans, table fans, pedestal fans, exhaust fans, wall fans. Ceiling fans in the household fans manufacturing market refer to the fan that is mounted on a ceiling. The various types of current are ac residential fans, dc residential fans. The various distribution channels are store-based retailing, direct sales, non-store-based retailing. These are used in the home, and commercial. The household fans market covered in this report is segmented – 1) By Type Of Product: Ceiling Fans, Table Fans, Pedestal Fans, Exhaust Fans, Wall Fans 2) By Type of Current: AC Residential Fans, DC Residential Fans 3) By Application: Home, Commercial 4) By Distribution Channel: Store-based Retailing, Direct Sales, Non-Store-based Retailing The household fans market size has grown steadily in recent years. It will grow from $31.3 billion in 2023 to $32.83 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The growth in the historic period can be attributed to consumer preferences for cooling solutions, energy efficiency concerns, urbanization and housing trend, climate and weather patterns, regulatory standards and certifications. The household fans market size is expected to see steady growth in the next few years. It will grow to $38.66 billion in 2028 at a compound annual growth rate (CAGR) of 4.2%. The growth in the forecast period can be attributed to growing marketing strategies and consumer education, integration with renewable energy, urbanization and compact living, health and air quality concerns, innovations in design and aesthetics. Major trends in the forecast period include quiet operation and noise reduction, energy efficiency and eco-friendly designs, smart and connected features, innovative design and aesthetics, versatility and multi-functionality.

Growth In Household Fan Market Fueled By Increased Electrification, Rising Disposable Income In Rural Areas

Increased electrification, especially in rural areas, has contributed to the growth of the household fan market in the historic period. Electrification, coupled with the rise in disposable income, has boosted the demand for household fans. For example, in India, the percentage of the rural population with access to electricity increased to 89.3%. The percapita net disposable income increased to $2,018.53. The rise in disposable income increased the purchasing power of people, which in turn increased the household fan manufacturing market.

Home Remodeling And Renovations Fuel Growth In The Household Fan Market

An increasing inclination toward home remodeling and renovations is expected to drive the household fan market. Home remodeling and renovations refer to the process of making changes or improvements to a residential property, such as modifying the interior or exterior, adding new features, or updating existing elements to enhance its functionality, aesthetics, and overall value. Fans play a vital role in providing comfort, energy efficiency, and aesthetic appeal in renovated homes, making them a common addition during home improvement projects. For instance, in January 2023, according to the Joint Center for Housing Studies of Harvard University, a US-based research center and think tank, national spending on remodeling and repairs for owner-occupied homes is projected to reach $485 billion in 2023, marking a 2.6 % increase from the previous year, 2022. Therefore, an increasing inclination toward home remodeling and renovations will drive the household fan market going forward. Major companies operating in the household fans market report are Shell Electric MFG Co. Ltd., Hunter Fan Company, Crompton Greaves Consumer Electricals Limited, Bajaj Electricals Ltd., Panasonic Corporation, Midea Group Co. Ltd., Emerson Electric Co., Monte Carlo Fan Company, SMC Corporation, Westinghouse Electric Corporation, ACC Limited, Havells India Limited, Broan-NuTone LLC, Luminous Power Technologies Pvt. Ltd., Airmate Electrical Co. Ltd., Henley Fan Company Ltd., Kichler Lighting LLC, Craftmade International Inc., Minka Group Inc., Orient Electric Limited, Usha International Limited, Casablanca Fan Company, Fanimation Inc., Usha Shriram Enterprises Pvt. Ltd., Polar Industries Ltd., King of Fans Inc., Litex Industries Limited, Ajanta Electricals Ltd., Mountainair Fans Pvt. Ltd., Khaitan Electricals Ltd., Fantasia Ceiling Fans Ltd., GRANSO CO. Ltd., Guangdong Zhaoqing Deton Co. Ltd.

Tariffs On Raw Materials Impede Household Fan Market Growth

Increased tariffs on raw materials such as steel and aluminum restrained the market for household fans in the historic period. Steel and aluminum are predominantly used in the manufacture of components such as blades for fans. Increasing import tariffs on raw materials such as steel hindered the market for household fans. For instance, the USA imposed 25% and 10% tariffs on the imports of steel and aluminum, respectively.

Household Fan Manufacturers Reduce Carbon Footprint And Promote Energy Savings

Household fan manufacturers are increasingly producing energy-efficient products to reduce their carbon footprint and enable energy savings for consumers. The rise of energy-efficient appliances can be attributed to stringent government regulations on electric home appliances and advances in technology. Energy-efficient fans are designed to utilize minimum energy. Currently, over 80 countries have standards and labels for energy-efficient appliances. For example, in the USA, ENERGY STAR-certified ceiling fans provide cutting-edge design, use the latest technology, and are 60% more efficient than conventional ceiling fans.

Remote-Controlled Innovations Enhances Household Fans

Major companies operating in the household fan market are developing remote controlled and advanced fans such as BLDC Effecta SFR1500 to gain a competitive advantage and enhance product offerings. BLDC Effecta SFR1500 is an energy-efficient ceiling fan with features such as dust resistance, remote control, silent performance, a superior metallic finish, and aerodynamic blades. For instance, in February 2023, Syska, an India based electrical products company, introduced the BLDC Effecta SFR1500 ceiling fan equipped with energy-saving technology that can lower power consumption by up to 50%. This ceiling fan offers features including dust resistance through corrosion-free paint, remote control functionality, silent performance from carefully designed blades, an elegant superior metallic finish, and aerodynamic blades for enhanced air delivery.

Rr Kabel Strengthens Consumer Electricals Portfolio With Acquisition Of Luminous Home Electrical Business

In May 2022, RR Kabel, an India-based wire and cable manufacturer, acquired the Luminous Home Electrical business from Schneider for an undisclosed amount. This acquisition will benefit RR Kabel's consumer electrical business, which includes a diverse portfolio of fans, lighting, and appliances. Luminous Home Electrical Business is an India-based electronics and electrical company. The Asia-Pacific was the largest region in the household fans market share in 2023. Western Europe is the second-largest region in the global household fans market. The regions covered in the household fans market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the household fans market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain The household type fans market consists of sales of ceiling fans, table fans, pedestal fans, exhaust fans, wall fans, and other household type fans. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The household fans manufacturing market research report is one of a series of new reports from The Business Research Company that provides household fans manufacturing market statistics, including household fans manufacturing industry global market size, regional shares, competitors with a household fans manufacturing market share, detailed household fans manufacturing market segments, market trends and opportunities, and any further data you may need to thrive in the household fans manufacturing industry. This household fans manufacturing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Warehousing And Storage Market Definition And Segments

Warehousing and storage refer to the act of storing items that will be sold or distributed later as well as the act of storing physical commodities or inventory in a warehouse and storage facilities for bonded merchandise, general merchandise, refrigerated goods, and other warehouse products. The main types in the warehousing and storage market are general warehousing and storage; refrigerated warehousing and storage; specialized warehousing and storage; and farm product warehousing and storage. General warehousing and storage involve storing, assorting, and stocking the goods. The market is segmented by ownership into private warehouses, public warehouses, bonded warehouses, and cooperative warehouses and used by various end-users such as the retail industry, manufacturing industry, consumer goods industry, food and beverage industry, healthcare industry, e-commerce, and others. The warehousing and storage market covered in this report is segmented – 1) By Type: General Warehousing And Storage, Refrigerated Warehousing And Storage, Specialized Warehousing And Storage, Farm Product Warehousing And Storage 2) By Ownership: Private Warehouses, Public Warehouses, Bonded Warehouses, Cooperative Warehouses 3) By End-Use: Retail Industry, Manufacturing Industry, Consumer Goods Industry, Food And Beverages Industry, Healthcare Industry, E-Commerce, Other End Use Sub segments: Cold Storage, Frozen Storage, Automobile Dead Storage, Bulk Petroleum And Chemical Storage, Document Storage And Warehousing, Whiskey Warehousing, Other Specialized Warehousing And Storage The warehousing and storage market size has grown strongly in recent years. It will grow from $724.47 billion in 2023 to $783.92 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to growing demand for refrigerates warehousing, increased demand for omnichannel model. The warehousing and storage market size is expected to see strong growth in the next few years. It will grow to $1062.19 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to increasing e-commerce industry, growing population, growth of the industrial sector will drive the growth. Major trends in the forecast period include adoption of new technologies such as drone technology for real- time inventory tracking, focus on warehouse automation, focus on warehouse management systems (WMS) are used to manage warehouse operations, including inventory management, order fulfillment and labor management, focus on facility expansions, launching smart warehouse technology, focus on mergers and acquisitions.

Growing Demand For Refrigerated Warehousing To Drive Warehousing And Storage Market Growth

Growing demand for refrigerated warehousing and storage is expected to propel the growth of the warehousing and storage market going forward. Refrigerated warehousing and storage refer to facilities or buildings equipped with specialized cooling or refrigeration systems designed to maintain low temperatures. Refrigerated warehousing and storage enhances the warehousing process by accommodating temperature-sensitive goods, broadening the client base, and adhering to stricter regulations. For instance, in July 2022, according to the Cold Chain Federation, a UK-based association, the cold storage capacity in the UK surpassed 40 million cubic meters, showing a 10% increase compared to the levels in 2021. Additionally, the cold storage sector's electricity costs have grown from $676 million in 2021 to an estimated $1.33 billion in 2022. Therefore, the growing demand for refrigerated warehousing and storage is driving the growth of the warehousing and storage market.

Enhancing Warehousing Efficiency Through Big Data Analytics

Many warehousing and storage companies are using big data analytics as a tool to plan and optimize warehouse operations. Big data analytics refers to the process of examining large sets of data to obtain useful information such as hidden patterns, market trends, unknown correlations, and customer preferences. Big data analyses the location, capacity, and flexibility of warehouses to predict customer requirements. It helps with improving warehouse planning and replenishment and creating lean supply chains with sophisticated inventory systems. This maximizes workflow, improves floor utilization, and increases operational efficiencies and ROI. For example, The Clemens Group, a food services provider, uses big data forklift fleet management software to track vehicle impacts, operator productivity, and equipment utilization on forklifts in the warehouse. EastPack, one of the largest kiwifruits packing houses in New Zealand, uses big data from real-time location systems to minimize supply chain errors and inventory issues. Major companies using big data analytics in warehousing include Deutsche Post, DHL Group, United Parcel Service, and Kuehne + Nagel. Major companies operating in the warehousing and storage market report are Deutsche Post DHL Group, GXO Logistics Inc., Kuehne + Nagel International AG, Geodis Group, DSV A/S, Cold Storage Management Services (Pty) Ltd., ARCOSA, Docustore Cc, Storall, Nippon Express, GLS Parcel Service, Lidl Great Britain Limited, DB Schenker, Brasfrigo S/A, Mitsubishi Logistics, Combi Logistics, Ryder System Inc., Ukr Trading FZ LLC, GMK Logistics, INDU Logistics, Aldi Stores Limited, Martini Meat S.A. Armazens Gerais, Frialsa, Amazon France Logistique, Sozo Logistics (Pty) Ltd., CJ Logistics, Green Africa Container Depots (Pty) Ltd., Central Consumable Services Cc, LODI, Agility Logistics, Qualianz,, Dubai CommerCity, Freedom warehousing and solutions, Bina Global Transport, Verks Global Logistics (VGL), Friozem Armazens Frigorificos Ltda, Fukuyama Transporting Co, Sysco EastTexas Llc, DH warehousing & fulfillment Ltd., G&S Logistics, Ryder Supply Chain Solutions, N B Refrigeration Ice And Cold Storage, AmeriCold Logistics LLC, Belleair Storage, BSC Logistics, Arfrio Armazens Gerais Friogorificos, Yidolls, Exotec, Lagermax Lagerhaus und Speditions AG, Ridge Logistics, Yusen Logistics, Supply Chain Services, Al-Futtaim Logistics, ProConnect Integrated Logistics, CEVA Logistics, Envoy Networks Prep partners group, Isewan Terminal Service, Superfrio Armazens Gerais Ltda, Comfrio

Adoption Of Plug-And-Play Warehouse Automation Systems By Major Companies In The Warehousing And Storage Market

Major companies operating in the warehousing and storage market are increasing their focus on introducing plug-and-play warehouse automation systems to gain a competitive edge in the market. A plug-and-play warehouse automation system refers to a ready-to-use, pre-configured automation solution designed to streamline and optimize various warehouse tasks and processes without the need for extensive customization or integration. For instance, in January 2023, AutoStore Holdings, a Norway-based automation company, launched AutoStore Pio, a plug-and-play warehouse automation system for small and medium-sized businesses. The system leverages AutoStore's Cube Storage technology, which uses a grid of robots to move bins of goods around a warehouse. Pio's innovative pay-per-pick implementation of AutoStore cube storage technology is aimed at retailers of apparel, sporting goods, crafts, and cosmetics. Asia-Pacific was the largest region in the warehousing and storage market in 2023. North America was the second largest region in the warehousing and storage market. The regions covered in the warehousing and storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the warehousing and storage market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa The warehousing and storage market includes revenues earned by entities by storing goods for smooth distribution, ensuring the supply chain of goods, managing inventory, and enhancing customer satisfaction. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The warehousing and storage market research report is one of a series of new reports from The Business Research Company that provides warehousing and storage market statistics, including warehousing and storage industry global market size, regional shares, competitors with a warehousing and storage market share, detailed warehousing and storage market segments, market trends and opportunities, and any further data you may need to thrive in the warehousing and storage industry. This warehousing and storage market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Refrigerated Warehousing And Storage Market Definition And Segments

Refrigerated warehousing and storage refer to a type of cold storage facility that provides services such as blast freezing, tempering, and modified atmosphere storage that are used to store products that must be kept at specific temperatures to stay fresh, such as foods, medicines, and biological samples in research laboratories to improve the integrity of the product, maintain the shelf life of drugs, and reduce contamination among the products. The main types in the refrigerated warehousing and storage market are cold storage and frozen storage. Cold storage refers to the storage (as of food) in a cold place for preservation. The market is also segmented by ownership into private warehouses, public warehouses, and bonded warehouses and by application into fruits and vegetables, bakery and confectionery, milk and dairy products, meat, seafood, beverages, and others. The refrigerated warehousing and storage market covered in this report is segmented – 1) By Type: Cold Storage, Frozen Storage 2) By Ownership: Private Warehouses, Public Warehouses, Bonded Warehouses 3) By Application: Fruits and Vegetables, Bakery and Confectionery, Milk and Dairy Products, Meat, Seafood, Beverages, Other Applications The refrigerated warehousing and storage market size has grown strongly in recent years. It will grow from $172.31 billion in 2023 to $187.87 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to globalization of the food supply chain, consumer demand for fresh products, e-commerce and online grocery shopping, pharmaceutical supply chain requirements. The refrigerated warehousing and storage market size is expected to see strong growth in the next few years. It will grow to $262.9 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to population growth and urbanization, sustainability and energy efficiency, economic growth in emerging markets, climate change and extreme weather events. Major trends in the forecast period include technology integration, energy efficiency and sustainability, e-commerce and last-mile delivery, cold storage for e-pharmacies.

Integration Of Mobile Technologies In Warehouse Operations

Warehouses are increasingly using mobile technologies to efficiently monitor warehouse operations. Mobile technology includes the use of tablets, smartphones, mobile printers, and other handheld devices for communication and information. These devices make use of GPS, RFID, VoIP, digital imaging, and voice technology. Technicians operating forklifts and automated material handling equipment in a warehouse are using mobile technologies to obtain information on troubleshooting, repairs, and work orders. This gives warehouse managers access to equipment status and performance reports and enables them to track warehouse operations around the clock. Wearable technology such as smart glasses is being integrated with warehouse management systems to improve hands-free mobility for workers. According to a report by MHI, a material handling, logistics, and supply chain association, 22% of the respondents use mobile technologies in warehouses, and the adoption rate is expected to reach 45% in the next two years.

Driving Growth Of Refrigerated Warehousing And Storage Market

The growth of refrigerated warehouses is expected to propel the growth of the refrigerated warehousing and storage market. A refrigerated warehouse refers to a building or facility that uses mechanical refrigeration to maintain a specific temperature range for storing goods. Refrigerated warehouses are used in refrigerated warehousing and storage to provide a controlled temperature environment for storing temperature-sensitive products. For instance, in January 2022, according to the United States Department of Agriculture, a US-based federal executive department, the gross refrigerated storage capacity in the US was 3.73 cubic feet, and the total number of refrigerated warehouses was 904 in 2021. Therefore, the growth of refrigerated warehouses drives the growth of the refrigerated warehousing and storage market. Major companies operating in the refrigerated warehousing and storage market include AmeriCold Logistics, Nichirei Corporation, Lineage Logistics Holdings LLC, Henningsen Cold Storage Co., Burris Logistics, Toyo Suisan Kaisha Ltd., Agro Merchants North America Holdings LLC, Nippon Suisan Kaisha Ltd., Snowman Logistics Ltd., Lineage Logistics, Americold Reality Trust Inc., United States Cold Storage Inc., NewCold Cooperatief U.A., Nichirei Logistics Group Inc., Emergent Cold LatAm Management LLC, Interstate Warehousing Inc., Frialsa Frigorificos S.A. De C.V., Constellation Cold Logistics, Superfrio Logistica Frigorificada, FreezPak Logistics, Conestoga Cold Storage Limited, Congebec Logistics Inc., METCOLD Supply Network Management Limited, RLS Logistics, Friozem Armazens Frigorificos Ltda., Magnavale Ltd., Confederation Freezers, Trenton Cold Storage Inc., Nor-Am Cold Storage, Burris Logistics, Agri-Norcold A/S, Vertical Cold Storage, ColdPoint Logistics, Hanson Logistics Ltd., Cloverleaf Cold Storage Co., Henningsen Cold Storage Co., Gruppo Marconi Logistica Integrata, Zero Mountain Inc.

Innovations In Specialized Freight Trucking And Warehouse Facilities

Major companies operating in the refrigerated warehousing and storage market are developing innovative warehouse facilities to provide reliable services to customers. An innovative warehouse facility refers to a modern and technologically advanced storage space designed to optimize storage, retrieval, and management processes. For instance, in October 2022, FlexCold, a US-based provider of revolutionizing cold storage warehousing, launched a warehousing facility to modernize and revolutionize cold storage and food logistics warehousing. It is designed with two adaptable rooms that may be used for frozen or chilled goods: a freezer room where temperatures are kept below zero and a blast freezer room where goods like poultry can be frozen to absolute zero in less than 36 hours. It provides direct ocean connections to 140 ports in 70 countries and accessibility to more than 98 million consumers within a day's drive. Asia-Pacific was the largest region in the refrigerated warehousing and storage market in 2023. North America was the second largest region in the refrigerated warehousing and storage market. The regions covered in the refrigerated warehousing and storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the refrigerated warehousing and storage market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa The refrigerated warehouse and storage market includes revenue earned by entities by providing refrigeration services to keep produce (often food) at an ideal temperature, prevent rotting, extend its life span, and minimize microbial contamination growth. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The refrigerated warehousing and storage market research report is one of a series of new reports from The Business Research Company that provides refrigerated warehousing and storage market statistics, including refrigerated warehousing and storage industry global market size, regional shares, competitors with a refrigerated warehousing and storage market share, detailed refrigerated warehousing and storage market segments, market trends and opportunities, and any further data you may need to thrive in the refrigerated warehousing and storage industry. This refrigerated warehousing and storage market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Household Refrigerator And Home Freezer Market Definition And Segments

A refrigerator is defined as an electrical appliance used to preserve food at cold temperatures. A freezer is part of a refrigerator where the temperature is maintained below the freezing point for storing food for longer periods. The main types of household refrigerators and home freezers are refrigerators, freezers, ice boxes, and refrigerator/freezer combinations. A refrigerator is an electronic household appliance that keeps food and drinks cold by pushing a liquid refrigerant through a sealed system, which causes it to vaporize, and draw heat out of the fridge. The vaporized refrigerant is then passed through coils outside the fridge (at the back or bottom). This warms up the vapor and changes it back into a liquid. The various door types of household refrigerators include single doors, double doors, side-by-side doors, and French doors. The different freezer locations are freezer on top, freezer on bottom, and freezer less, which are used for frozen vegetables and fruit, frozen meat, and other applications. The main types of household refrigerators and home freezers marketed by distribution channel are specialty stores, supermarkets/hypermarkets, online, and others. The household refrigerator and home freezer market covered in this report is segmented – 1) By Type: Refrigerators, Freezers, Ice Boxes, Refrigerator/Freezer Combinations 2) By Refrigerator Door Type: Single Door, Double Door, Side by Side Door, French Door 3) By Freezer Location: Freezer on top, Freezer on bottom, Freezer less 4) By Application: Frozen Vegetable and Fruit, Frozen Meat, Other Applications 5) By Distribution Channel: Specialty Stores, Supermarkets/Hypermarkets, Online, Other Distribution Channels The household refrigerator and home freezer market size has grown strongly in recent years. It will grow from $59.18 billion in 2023 to $62.89 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to electrification of households, changing consumer lifestyles, energy efficiency and environmental concerns, kitchen remodeling and upgrades, adoption of modular kitchens, increase in the number of nuclear families worldwide. The household refrigerator and home freezer market size is expected to see strong growth in the next few years. It will grow to $78.46 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to smart and connected appliances, sustainability and energy efficiency, health and wellness trends, urbanization and smaller living spaces, food delivery and online shopping. Major trends in the forecast period include French door refrigerators, energy-efficient cooling, customization and flexible storage, fingerprint-resistant finishes, integration of water and ice dispensers.

Rising Consumption Of Processed Foods And Shifting Dietary Habits Fuel Growth In The Household Refrigerator And Freezer Market

The increasing consumption of processed food products such as frozen meat, vegetables, and dairy products as well as change in the dietary habits of consumers is driving the household refrigerator and freezer market growth. Due to busy lifestyles, consumers are increasingly relying on processed food and prepared meals that require refrigerators for storage. According to Rentokil, the processed food industries are valued at $2 trillion globally. The huge market for processed food products is expected to drive the growth of the household refrigerators and home freezers market.

Increasing Consumer Purchasing Power Drives Growth In The Household Refrigerators And Home Freezers Market

The increasing purchasing power of consumers is expected to drive the household refrigerators and home freezers market. The purchasing power of consumers refers to their ability to buy goods and services based on their income and available financial resources. Increasing the purchasing power of consumers boosts household refrigerators and home freezers by driving sales of upgraded and energy-efficient models, encouraging innovation, expanding product diversity, and fueling market growth. For instance, in February 2023, according to the European Commission, a Europe-based institution of the European Union, by 2030 the global middle class also termed the consumer class, is expected to reach 4.8 billion people which is 1.3 billion more people with increased purchasing power than 2021. Therefore, the increasing purchasing power of consumers is expected to drive the growth of the household refrigerators and home freezers market. Major companies operating in the household refrigerator and home freezer market include LG Electronics, Haier, Samsung, Panasonic Corporation, Godrej, Electrolux, Whirlpool, Robert Bosch, Liebherr-International AG, Dover Corporation, Midea Group, Hitachi Ltd., Sharp Corporation, Toshiba Corporation, Siemens AG, General Electric, Frigidaire, Maytag, Kenmore, Amana, KitchenAid, Jenn-Air, Viking Range, Sub-Zero, Thermador, True Residential, Fisher & Paykel, Dacor, Gaggenau, Smeg, Blomberg, Hisense, Arcelik, Vestel, Gorenje

Intense Pricing Pressure Hampers Growth In The Household Refrigerator And Freezer Market

Intense pricing pressure on manufacturers is restraining the growth of the household refrigerator and freezer market. The market has numerous players competing in terms of price, specifications, and other characteristics. Durable goods such as TV, and freezers are more price elastic than necessities. People are more likely to purchase when there is a reduction in the price of the goods and less likely to purchase when there is a price hike.

Manufacturers Enhance Household Refrigerators And Home Freezers With IOT And Embedded Sensor Technologies For Improved Functionality

Household refrigerators and home freezer manufacturers are implementing technologies such as IoT and embedded sensors in their products to improve overall functionality. Manufacturers are introducing advanced human-machine interface designs in refrigerators and also manufacturing refrigerators that can automatically recognize the type and weight of the food stored in the refrigerators and adjust and monitor the temperature as per requirement.

Lg Electronics Expands Its Household Refrigerators Line With Wi-Fi-Enabled Side-By-Side Convertibles, Demonstrating A Focus On Global Expansion

Major companies in the household refrigerators and home freezer market are developing wi-fi-enabled side-by-side convertible refrigerators to gain a competitive edge. Wi-Fi-enabled side-by-side convertible refrigerators can be controlled remotely using the LG ThinQ app. For instance, in September 2023, LG Electronics, a South Korea-based multinational electronics company, launched the new wi-fi-enabled side-by-side convertible refrigerators in India that allow users to convert the freezer section to a fridge from anywhere using the LG ThinQ app. The 2023 Wi-Fi Convertible side-by-side refrigerator line presently has nine variants in matte and glass finishes, with chrome-finished door handles and metallic decorations on the inside. Refrigerator variants with a size of 650 liters will be offered.

Whirlpool Expands Kitchen Appliance Portfolio With Acquisition Of Elica

In September 2021, Whirlpool, a US-based home appliances company acquired Elica for a deal amount of $57 million. Through this acquisition, Whirlpool expands its portfolio in kitchen appliances. Elica is an Italy-based company operating in home appliances including household refrigeration and home-freezers. Asia-Pacific was the largest region in the household refrigerator and home freezer market in 2023. Western Europe was the second-largest region in the household refrigerator and home freezer market. The regions covered in the household refrigerator and home freezer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the household refrigerator and home freezer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada The household refrigerators and home freezers market consists of the sales of top-freezer refrigerators, bottom-freezer refrigerators, side-by-side refrigerators, French door refrigerators, upright freezers, chest freezers, handle ice boxes, wheeled ice boxes, and other household refrigerators and home freezers. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The household refrigerator and home freezer market research report is one of a series of new reports from The Business Research Company that provides a household refrigerator and home freezer market statistics, including household refrigerator and home freezer industry global market size, regional shares, competitors with a household refrigerator and home freezer market share, detailed household refrigerator and home freezer market segments, market trends and opportunities, and any further data you may need to thrive in the household refrigerator and home freezer industry. This household refrigerator and home freezer market research report deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Automatic Environmental Control Market Definition And Segments

Automatic environmental control refers to devices used as automatic controls and regulators for applications, such as heating, air-conditioning, refrigeration, and appliances. The main types in the automatic environmental control market are heating equipment, refrigeration equipment, and air conditioning equipment. The heating equipment in the automatic environmental control market refers to the heating systems that provide heat maintained at the thermal level. It includes products such as environmental monitors, environmental monitoring sensors, wearable environmental, monitors, that are used in residential, commercial, and industries. The automatic environmental control market covered in this report is segmented – 1) By Type: Heating Equipment, Refrigeration Equipment, Air Conditioning Equipment 2) By Product Type: Environmental Monitors, Environmental Monitoring Sensors, Wearable Environmental Monitors 3) By Application: Residential, Commercial, Industrial The automatic environmental control market size has grown strongly in recent years. It will grow from $17.57 billion in 2023 to $18.72 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to industrialization and urbanization, energy efficiency concerns, regulatory standards, comfort and convenience, advances in sensor technology. The automatic environmental control market size is expected to see strong growth in the next few years. It will grow to $23.76 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to climate change mitigation, smart buildings and iot, health and wellness focus, energy management, building renovations and retrofits. Major trends in the forecast period include building energy management, artificial intelligence and machine learning, occupancy and behavior sensing, energy storage integration, user-centric design.

Booming Manufacturing Industries Fueling Growth In The Automatic Environmental Control Market

Rapid growth in manufacturing industries is a key factor driving the growth of the automatic environmental control market. In the Indian economy, industrial manufacturing is the major growing sector with diverse companies engaged in the manufacturing of machinery and equipment, building and construction materials, rubber and plastic products, electrical and mechanical products, cement, and automation technology products. Growth in manufacturing outputs in China and Brazil will be the highest in the next five years. The countries will grow at an annual growth rate of 7.1% and 5.0%, respectively. Therefore, the growth in manufacturing industries is expected to increase the growth of the automatic environmental control market.

Rising Demand For Smart Homes Drives Growth In The Automatic Environmental Control Market

The increasing demand for smart homes is expected to propel the growth of the automatic environmental control market in the coming years. A smart house, also known as an interconnected residence or home automation, is a residential space equipped with numerous networked gadgets and systems that can be functioned and tracked remotely. The fundamental purpose of a smart home is to improve the living environment's ease, convenience, safety, and energy efficiency through the combination of technology and automation. Automatic environmental control helps to improve the interior quality of the air through energy savings, remote monitoring, increased comfort, and a lower carbon footprint. Sensors and automation are used in smart houses to regulate the environment. Smart homes with automatic environmental management can assist in decreasing energy usage, optimizing energy consumption, and eliminating waste. For instance, in August 2023, according to Earthweb Inc., a US-based independent technology research blog focusing on cybersecurity, blockchain, social media, and marketing, the number of smart houses worldwide in 2021 was 258.54 million. Similarly, 23% of broadband homes have more than three smart home gadgets in the US. Therefore, the increasing demand for smart homes is driving the automatic environmental control market. Major companies operating in the automatic environmental control market include Johnson Controls Inc., Schneider Electric, United Technologies Corporation, Honeywell International Inc., Ingersoll Rand, Siemens AG, Emerson Electric Co., Agilent Technologies, Danaher, Thermo Fisher Scientific Inc., Shimadzu Corporation, PerkinElmer, 3M company, bioMérieux S.A., Merck KGaA, Forbes Marshall, Carrier Corporation, Daikin Industries Ltd., LG Electronics Inc., Mitsubishi Electric Corporation, Panasonic Corporation, Samsung Electronics Co. Ltd., Sharp Corporation, Toshiba Corporation, Trane Inc., York International Corporation, ABB Ltd., Eaton Corporation, General Electric Company, Rockwell Automation Inc.

Trade Protectionism A Barrier To Growth In The Automatic Environmental Control Market

Rising trade protectionism acts as a major challenge in the automatic environmental control global market. Trade protectionism is characterized as a country, or a group of countries working related as an exchange alliance, making exchange boundaries with the objective of protecting its economy from the potential dangers of worldwide trading. The target of trade protectionism is to ensure a country's fundamental monetary interests, for example, its key ventures, wares, and work of laborers. A wide number of trade barriers have been introduced, the major one has been higher tariffs on bilateral trade between the US and China. This increase in protectionism has contributed to a slowdown in global growth through direct effects on trade flows, supply chains, and import costs, and indirect effects on business sentiment, uncertainty, and investment around the world. Therefore, rising trade protectionism will negatively impact in this market’s growth.

Smart Thermostats A Key Trend In The Automatic Environmental Control Market

The smart thermostat is a key trend in the automatic environmental control market. Smart thermostats use smart technology that can be operated using mobile phones, laptops, smart speakers, or other computers connected to the internet that allows for scheduling preferred temperature settings, and they can also be integrated into home automation systems. For instance, Ecobee was the first to introduce the smart thermostat solution into the market. The company has seen its revenues double every year, Ecobee revenue reached $550 million by 2022. Across North America, Ecobee holds 30% of the market share in smart thermostats.

Ricoh Introduces Innovative Eh Environment Sensor D201/202 To Enhance Automatic Environmental Control Market

Major companies operating in the automatic environmental control market are focusing on innovative products like the RICOH EH Environment Sensor D201/202 to better meet the needs of their existing consumers. Environmental sensors are instruments that measure and track the state of the environment. They are used in different environments, including smart residences, servers, and industrial settings. For instance, in September 2021, Ricoh Company, Ltd., a Japan-based imaging and electronics firm, launched the Ricoh EH Environment Sensor D201/202. Customers may utilize these novel devices in refrigerated, high-temperature, and high-humidity conditions to obtain environmental data such as internal temperature, humidity, brightness, and air pressure without the batteries or a connected connection. The data gathered by Bluetooth wireless technology or Wi-FiTM2 may be seen in real-time on a computer or smart device, automatically saved, and warnings can be set. This system adds to environmental management's digital transition by removing the need for manual temperature and humidity monitoring, battery maintenance, and wiring in places like food processing and industrial facilities, as well as retail outlets. The Asia-Pacific was the largest region in the automatic environmental control market in 2023. North America is the second-largest region in the automatic environmental control market. The regions covered in the automatic environmental control market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the automatic environmental control market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada The automatic environmental control global market consists of sales of airflow controllers, air conditioning and refrigeration, heating and cooling system controls, heating regulators, and other automatic environmental controls. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The automatic environmental control global market research report is one of a series of new reports from The Business Research Company that provides automatic environmental control market statistics, including automatic environmental control industry global market size, regional shares, competitors with an automatic environmental control market share, detailed automatic environmental control market segments, market trends and opportunities, and any further data you may need to thrive in the automatic environmental control industry. This automatic environmental control market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

HVAC And Commercial And Industrial Refrigeration Equipment Market Definition And Segments

HVAC and commercial and industrial refrigeration equipment refer to the machinery that deals with the commercial and industrial refrigeration sector that transfers heat energy from or to the products or building environment. The main types of HVAC and commercial and industrial refrigeration equipment are HVAC equipment, and commercial and industrial refrigeration equipment. Commercial and industrial refrigeration equipment refers to the machinery that deals with the commercial and industrial refrigeration sector. The various capacities include small, medium, and large. The various applications involved are food processing, beverage production, chemicals and pharmaceuticals, petrochemicals, and energy. The hvac and commercial and industrial refrigeration equipment market covered in this report is segmented – 1) By Type: HVAC Equipment, Commercial And Industrial Refrigeration Equipment 2) By Capacity: Small, Medium, Large 3) By Application: Food Processing, Beverage Production, Chemicals and Pharmaceuticals, Petrochemicals, Energy, Logistics Subsegments Covered: Air-Conditioning Equipment, Warm Air Heating Equipment, Commercial Refrigeration Equipment, Industrial Refrigeration Equipment The hvac and commercial and industrial refrigeration equipment market size has grown strongly in recent years. It will grow from $423.36 billion in 2023 to $448.62 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to urbanization and construction boom, globalization and international trade, demand for air quality solutions, rise in commercial real estate, health and safety regulations. The hvac and commercial and industrial refrigeration equipment market size is expected to see strong growth in the next few years. It will grow to $554.06 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to transition to sustainable cooling, rising demand for cold chain logistics, global climate change concerns, energy efficiency and green building standards, economic growth in emerging markets. Major trends in the forecast period include smart and connected hvac systems, advanced refrigeration technologies, and decentralized refrigeration systems, adoption of heat pumps, hvac retrofits and upgrades.

Construction Industry Expansion Fueling Growth In Hvac And Commercial And Industrial Refrigeration Equipment Market

The expansion of the construction industry globally is expected to propel the growth of the HVAC and commercial and industrial refrigeration equipment markets in the forecast period. The construction industry refers to the industrial branch of manufacturing and trade related to building, repairing, renovating, and maintaining infrastructure. The construction of new commercial spaces necessitates HVAC systems to maintain indoor comfort, while the residential construction sector drives demand for efficient heating and cooling systems favored by homebuyers and renters for comfort and energy efficiency. For instance, in August 2023, according to a report published by the U.S. Census Bureau, a US-based Federal Statistical System, construction expenditure accounted for $1,938.4 billion in June 2023, indicating a 3.5% increase from the estimated expenditure of $1,873.2 billion in June 2022. Therefore, expanding the construction industry will drive the growth of the HVAC and commercial and industrial refrigeration equipment markets going forward.

Stable Economic Growth And Recovering Commodity Prices Propel The Hvac And Commercial And Industrial Refrigeration Equipment Market

The HVAC and commercial and industrial refrigeration equipment market growth is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth is expected to increase investments in the end-user markets, thereby driving the market during the forecast period. Major companies operating in the hvac and commercial and industrial refrigeration equipment market report are Midea Group, Hitachi Ltd., Panasonic Corporation, Haier Group, Specialty Refrigeration and Equipment, Daikin Global, Gree Electric Appliances Inc., Johnson Controls International plc, Carrier Corporation, Whirlpool Corporation, Illinois Tool Works Inc., Electrolux AB, Snow River Chillers, Fukushima Galilei Co. Ltd, Lotte Engineering & Machinery Mfg. Co., Dover Corporation, Ingersoll-Rand Plc, GEA Group AG, Hoshizaki Corporation, Blue Star Limited, Standex International Corporation, Arneg S.p.A, Paul Mueller Company, Bitzer, Innovative DisplayWorks, Baltimore Aircoil Company, Structural Concepts Corporation, Zhongshan Aochi Refrigeration Equipment Co. Ltd, Mokon Chillers, Blue Air, Frigoglass SAIC, Cold Shot Chillers, RTF Manufacturing

COVID-19 Impact On The Hvac And Commercial And Industrial Refrigeration Equipment Market

The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the HVAC and commercial and industrial refrigeration equipment markets in 2020 as supply chains were disrupted due to trade restrictions and manufacturing activity declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally, including in Western Europe, North America, and Asia. Machinery manufacturers depend heavily on the supply of raw materials, parts, and components from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of raw materials and components. The outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the HVAC and commercial and industrial refrigeration equipment market will recover from the shock across the forecast period as it is a 'black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy.

Advancements In Environmentally Friendly Cooling Solutions

Companies in the HVAC and commercial and industrial refrigeration equipment markets are actively working towards transitioning to sustainable refrigerants such as Solstice N71 (R-471A), ensuring compliance with international regulations, and promoting sustainable practices in the market. Solstice N71 (R-471A) represents the supermarket industry's inaugural non-flammable and energy-efficient solution, boasting a low global warming potential (GWP) of less than 150. For instance, in January 2022, Honeywell International Inc., a US-based technology and manufacturing company, introduced a new low-global-warming-potential refrigerant, Solstice N71 (R-471A), specifically designed for commercial and industrial refrigeration, catering to the requirements of supermarkets and retailers preparing for anticipated regulatory changes. As part of Honeywell's Solstice line of low-GWP (global warming potential) solutions, Solstice N71 stands out as the industry's first non-flammable and energy-efficient option, with a GWP below 150.

Growing Popularity Of Geothermal Hvac Technology Driven By Demand For Energy-Efficient Systems

Geothermal heating and cooling technology is becoming popular because of the surge in demand for energy-efficient HVAC systems. Geothermal HVAC absorbs heat from the facility and transfers it underground, and it uses cool water from the ground to create cool air conditioning in the facility. It consists of an indoor handling unit and a system of pipes underground, which requires very little maintenance and lasts longer than traditional HVAC systems. According to the US Department of Energy, a US-based agency, geothermal heating and cooling systems are now installed in about 50,000 US houses each year. Asia-Pacific was the largest region in The HVAC and commercial and industrial refrigeration equipment market in 2023. North America was the second largest region in the HVAC and commercial and industrial refrigeration equipment. The regions covered in the hvac and commercial and industrial refrigeration equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the hvac and commercial and industrial refrigeration equipment market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa. The HVAC and commercial and industrial refrigeration equipment market consists of sales of split systems, hybrid systems, duct-free systems, and packaged heating and air systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The HVAC and commercial and industrial refrigeration equipment market research report is one of a series of new reports from The Business Research Company that provides HVAC and commercial and industrial refrigeration equipment market statistics, including HVAC and commercial and industrial refrigeration equipment industry global market size, regional shares, competitors with an HVAC and commercial and industrial refrigeration equipment market share, detailed HVAC and commercial and industrial refrigeration equipment market segments, market trends and opportunities, and any further data you may need to thrive in the HVAC and commercial and industrial refrigeration equipment industry. This HVAC and commercial and industrial refrigeration equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.