Industries Study Report: September 2023

Petrochemicals Industry: Competitive Landscape and Product Price Trend Analysis, 2023 - 2030

Petrochemicals Industry Data Book - Ethylene, Propylene, Butadiene, Benzene, Xylene, Toluene and Methanol Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030

Grand View Research’s petrochemicals industry data book is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with a statistics e-book.

Access the Global Petrochemicals Industry Data Book, 2023 to 2030, compiled with details like trade data, pricing intelligence, and competitive benchmarking.

Benzene Market Report Highlights

The global Benzene Market size was estimated at 55.8 million tons in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 4.1% from 2022 to 2030.

The global market is estimated to advance with a growth rate at a CAGR of 6.1% from 2022 to 2030. This is attributed to the wide range of uses of the product in industries such as automobile, personal care, pharmaceuticals, packaging, and others
Asia Pacific dominated the global market in 2022 with a revenue share of over 45.20%. This is owed to increasing demand for home appliances, automobiles, packaging in food & beverages and pharmaceutical, and personal care in the region
The increasing demand for benzene in the Asia Pacific has also resulted in several companies increasing their production capacities. For instance, Hengyi Petrochemical of china has set up a naphtha cracker plant in 2021 which will increase its production capacity of benzene by 80,000 TPA. Additionally, Reliance industries one of the major producers of benzene in India has increased its production capacity to 1400KTA
Ethylbenzene dominated the derivative segment with a revenue share of 53.69% in 2022. This growth is attributed to the fact that a major portion of ethylbenzene goes into the production of styrene which has its demand in several major industries such as rubber, packaging, and automobiles
Automobile application in the ethylbenzene derivative by end-use segment held a revenue share of 43.53%. This is due to the fact that styrene produced from ethylbenzene finds its major usage in automobile parts and tires due to its unique properties of low rolling friction, abrasion resistance, and high traction during braking
Catalytic reforming in the production process dominated the global market with a revenue share of 49.32% in 2022. This is attributed to the fact that this method gives high yield and is useful for the production of benzene in large quantity

Order your copy of Free Sample of “Petrochemicals Industry Data Book - Ethylene, Propylene, Butadiene, Benzene, Xylene, Toluene and Methanol Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research

Xylene Market Report Highlights

The global Xylene Market size was estimated at 60.4 million tons in 2021 and is anticipated to grow at a compound annual growth rate (CAGR) of 5.4% from 2022 to 2030.

In terms of additives, the solvent segment emerged as the fastest-growing application segment with a CAGR of 7.8% from 2023 to 2030. Xylene is widely used as a solvent in industries ranging from paints and adhesives to chemical manufacturing
Based on type, the mixed-xylene segment dominated the market in 2022 with the largest revenue share. Mixed xylene, as the name suggests, is a combination of the three isomers - ortho-xylene, meta-xylene, and para-xylene. It is primarily employed as a solvent in various applications such as paints, coatings, adhesives, and thinners
Based on region, Asia Pacific emerged as the fastest-growing region with a CAGR of 8.8% from 2023 to 2030, due to the demand for solvents and monomers in countries like China, Japan, India, and South Korea, which contribute to the overall market
In April 2021, Tecnimont Private Limited was granted an Engineering, Procurement, Construction, and Commissioning (EPCC) contract by Indian Oil Corporation Limited (IOCL) to establish a comprehensive paraxylene (PX) and purified terephthalic acid (PTA) plant in Paradip, Odisha. The contract is valued at USD 450 million and involves integrating the plant with the existing Jagatsinghpur refinery facility in Odisha
China holds a prominent position as a major producer of PET resins, with industry leaders such as PetroChina Group and Jiangsu Sangfangxiang standing out as significant global manufacturers, boasting a combined capacity exceeding 2 million tons. Consequently, the increasing demand for PET from various end-user industries is a key driving force behind the surge in the demand for paraxylene
The paints and coatings sectors are both experiencing a growth in the utilization of xylene owing to substantial investments and expansions in the industry. Notably, the American Coatings Association reports that the production of paints and coatings in the United States surpassed 1.36 billion gallons in 2022. Projections indicate that the industry's output in 2023 is anticipated to surpass 1.38 billion gallons

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Competitive Landscape

Over the past years, the industry participants have been witnessed to continuously engage in acquisitions & mergers, and joint ventures with governments and other key players already in the oil and gas field. By these operational integrations, companies seek to expand their reach to potential customers at optimum distribution cost.

Key players operating in the Petrochemicals industry are:

BASF SE
Chevron Corporation
China National Petroleum Corporation (CNPC)
China Petrochemical Corporation (Sinopec)
Exxonmobil Corporation

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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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Supply Chain Solutions Industry: In Terms of Service, The Professional Segment Dominated the Market in 2022

Supply Chain Solutions Industry Data Book - Supply Chain Analytics, Procurement as a Service, and Vendor Risk Management Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030

Grand View Research’s supply chain solutions industry data book is a collection of market sizing information & forecasts, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.

Access the Global Supply Chain Solutions Industry Data Book, 2023 to 2030, compiled with details like trade data, pricing intelligence, and competitive benchmarking.

Supply Chain Analytics Market Report Highlights

The global Supply Chain Analytics Market size was estimated at USD 6.13 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 17.8% from 2023 to 2030.

In terms of solution, the sales & operations analytics segment held the largest market share in 2022 exceeding 28%. This growth can be attributed to the growing emerging trend of use of machine learning in SCA solutions. It dissects and aggregates data and produces predictive, descriptive, and prescriptive insights. These insights enable supply chain managers to make better decisions
In terms of service, the professional segment dominated the market in 2022 with a revenue share of over 60% and is expected to retain its dominance over the forecast period. The segment's growth is predicted to be driven by the increasing automation of professional services due to the adoption of big data and analytics, as well as the growing desire for improved mobility among service consultants
In terms of deployment, the cloud segment is anticipated to register the fastest CAGR of 19.1% from 2023 to 2030. Cloud-based solutions enable businesses to access data from linked devices at any time, allowing for further customization and the use of analytical tools across numerous business channels
In terms of enterprise size, the large enterprise segment held the largest market share in 2022 at over 59%. This growth can be attributed to the need to manage large amounts of data that must be effectively managed in local offices and overseas
In terms of end-use, the high-technology products segment is anticipated to register the fastest CAGR of 20.6% from 2023 to 2030. This growth can be attributed to the increasing demand for high-technology products, which are complex to move and demand better visibility & tracking
In terms of region, the North America region dominated the global market in 2022 with a revenue share of over 37%. Due to the region's huge number of SCA service providers, the regional market is expected to maintain its dominance over the forecast period

Procurement as a Service Market Report Highlights

The global Procurement as a Service Market size was estimated at USD 6.15 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 11.1% from 2023 to 2030.

The contract management segment is projected to grow considerably, with the fastest CAGR over the forecast period. The growth of this segment is majorly attributed to the increasing demand from businesses for service-level agreements and vendor management optimization to streamline the procurement process.
The small & mid-sized enterprises segment is expected to register the highest CAGR from 2023 to 2030. This growth can be attributed to a rising number of start-ups and small enterprises that are using procurement as a service approach to managing specific supply chain operations.
The IT & telecom segment is anticipated to register significant growth over the forecast period. The increasing use of technology to handle company operations and enterprises' growing reliance on outsourcing business operations are projected to drive segment growth.
The Asia Pacific region is anticipated to dominate the market growth over the forecast period. Growing instances of digital transformation and an increase in the number of small companies engaged in using enhanced procurement services are expected to drive regional growth.

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Vendor Risk Management Market Report Highlights

The global Vendor Risk Management Market size was estimated at USD 8.18 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 15.1% from 2023 to 2030.

The financial control solution segment is expected to register the highest CAGR over the forecast period owing to the increasing interest of companies in eliminating financial risks associated with vendors to enhance profitability
The small and medium enterprise size segment is anticipated to emerge as the fastest-growing segment over the forecast period owing to the increased number of start-ups demanding advanced vendor risk management solutions and growing government support to SMEs in enhancing their businesses
The cloud deployment segment is anticipated to emerge as the fastest-growing segment over the forecast period owing to the growth of cloud and industrialized services and a decrease in traditional Data Center Outsourcing (DCO). Moreover, edge computing has emerged as one of the most important drivers likely to accelerate the demand for the adoption of hybrid cloud models across organizations worldwide
The healthcare end-use segment is expected to register the highest growth rate from 2022 to 2030 owing to the growing adoption of modernized tools for providing personalized healthcare services to patients
Asia Pacific is expected to emerge as the fastest-growing region over the forecast period owing to the increasing focus of SMEs and large enterprises to enhance their digital initiatives. The growth in the IT services industry in markets such as India, China, and other South Asian regions is also expected to propel the regional market growth over the forecast period

Go through the table of content of Supply Chain Solutions Industry Data Book to get a better understanding of the Coverage & Scope of the study

Competitive Landscape

The companies are adopting several growth strategies, such as partnerships, mergers & acquisitions, and product launches, to stay afloat in the competitive industry.

Key players operating in the Supply Chain Solutions industry are:

Genpact
Accenture plc
International Business Machines Corporation
HCL Technologies Ltd.
WNS (Holdings) Ltd.

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Wound Debridement Industry: List of Key Distributors and Channel Partners

Wound Debridement Industry Data Book - Wound Irrigation Systems, Enzymatic Wound Debridement, Maggot Debridement Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030

Grand View Research’s wound debridement industry data book is a collection of market sizing information & forecasts, regulatory data, reimbursement structure, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.

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Wound Irrigation Systems Market Report Highlights

The global Wound Irrigation Systems Market size was estimated at USD 303.84 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 3.9% from 2023 to 2030.

By product, the manual wound irrigation system segment held the largest market share of 55.3% in 2022 owing to the increasing incidence of burns and surgical site infection across the globe
Based on application, the chronic wounds segment held the largest revenue share of around 30.0% in 2022 due to the rising prevalence of diabetic foot ulcers and pressure ulcers
Asia Pacific is expected to witness the fastest growth over the forecast period owing to the rising number of diabetic patients in this region

Wound Irrigation Systems Market by Key Trends (USD Million)

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Wound Debridement Market Report Highlights

The global Wound Debridement Market size was estimated at USD 4.45 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 6.2% from 2023 to 2030.

Gels accounted for the largest share by product in 2017 due to advantages such as no inflammation, reduced bleeding, and safe removal of necrotic tissues without causing infection
By wound type, diabetic foot ulcers are estimated to form the fastest growing segment due to the high prevalence of diabetes. About 15.0% of diabetic foot ulcers result in amputation. Therefore, need to heal the wound in its nascent stage is necessary
Asia Pacific is anticipated to witness fastest growth over the forecast period. Progressive economy, reforms to improve infrastructure, high unmet needs of a massive population, and availability of skilled labor is expected to drive the market in this region

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Competitive Landscape

The wound debridement industry is extremely fragmented, with both major and local market competitors. As the current market players step up their efforts to seize the majority in the industry, fierce competition is anticipated, with the degree of competitiveness perhaps rising even higher. Many market participants are engaging in various strategic activities, such as product launches, mergers and acquisitions, and geographic growth, to gain a competitive edge over rivals.

Key players operating in the Wound Debridement industry are:

Coloplast Corp.
Medline Industries
Smith & Nephew
ConvaTec Group PLC
Integra LifeSciences

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Wi-Fi Chipset Industry: Regulatory Trends and Value Chain Analysis, 2023 - 2030

Wi-Fi Chipset Industry Data Book - Wi-Fi 6, Wi-Fi 6E and Wi-Fi 7 Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030

Grand View Research’s Wireless Fidelity (Wi-Fi) chipset industry data book is a collection of market sizing information & forecasts (2019-2030), key players competitive benchmarking analysis, government regulatory data, macro-environmental analysis, and technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.

Access the Global Wi-Fi Chipset Industry Data Book, 2023 to 2030, compiled with details like trade data, pricing intelligence, and competitive benchmarking.

Wi-Fi 6 Market Report Highlights

The global Wi-Fi 6 Market size was estimated at USD 9.90 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 4.6% from 2022 to 2030.

The growth of this market can be attributed to the increasing demand for high-performance network connectivity that can allow multiple users to access the network simultaneously at a consistent bandwidth capacity.
The Wireless Fidelity 6 market is expected to register a significant growth rate over the forecast period owing to the growing need for high bandwidth to mitigate network congestion due to heavy network load.
Moreover, the growth is further influenced by the rapidly growing demand for modern devices such as smartphones, laptops, tablets, and routers with the supporting capability of new wireless frequency bands such as 2.4GHz, 5GHz, and 6GHz.
Various private & public companies are operating in Wireless Fidelity 6 market and are adopting different growth strategies such as business expansion, partnership & collaboration, agreement, new product launches and others to expand their presence in this market.

Wi-Fi 6 Market Device Type Outlook

Wi-Fi 6E Market Report Highlights

The global Wi-Fi 6E Market size was estimated at USD 2.37 billion in 2021 and is anticipated to grow at a compound annual growth rate (CAGR) of 27.0% from 2022 to 2030.

Wi-Fi 6E enabled devices are expected to be the most compatible with older Wi-Fi devices. The Federal Communications Commission (FCC) has opened the 6GHz band for the U.S., which is likely to boost the adoption of Wi-Fi 6E chips.
Moreover, these chipsets offer greater benefits compared to the Wi-Fi 6 technology. For instance, Qualcomm Wi-Fi 6E offers high-speed 160 MHz channels with higher stability and a more consistent experience than Wi-Fi 6 chipsets.
Wi-Fi 6E have emerged as promising Wi-Fi technology, delivering improved network speed and streamlined connectivity for connected cars. These chipsets are widely used in applications such as advanced driver assistance systems, infotainment systems, and telematics control units.

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Wi-Fi 7 Market Report Highlights

The global Wireless Fidelity 6 market generated over USD 0.22 billion in 2021 and is projected to expand at a CAGR of around 106.2% during the forecast period

Wireless Fidelity 7 is a successor of WiFi. This is based on IEEE 802.11be standard. This is an upgrade in terms of Extremely High-Throughput (EHT) which will boost its video streaming speed and quality.
WiFi 7 chipset provides more flexibility as well as capabilities to organizations helping them in their digital transformation journey.
In the forecasted period it is expected that Wi-Fi 7 and 5G will work together and will introduce the use of advanced technologies such as distributed & cloud architectures, digitalization, edge computing, virtualization in the private wireless networks.
The Wireless Fidelity 7 compatibility will increase the speed of the internet up to 30 Gbps. It will also enhance the wireless audio quality and reduce the latency.

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Competitive Landscape

Market players are primarily focusing on developing new products in the market in order to cater to a large number of customers’ needs and requirements. For instance, in January 2020, Broadcom Inc introduced 3x3 Wi-Fi 6 Chip for set-top boxes & WLAN access points. The growing competition for the development of efficient and effective Wireless Fidelity 6 and Wireless Fidelity 6E chipsets are enabling the manufacturers to differentiate their products to stay competitive in the market. Moreover, in October 2021 MediaTek Inc. launched its products Filogic 830 WiFi 6/6E system-on-chip (SoC) and Filogic 630 WiFi 6E network interface card (NIC). This launch initiative will help the company serve its customers in the Wi-Fi 6 and Wi-Fi 6E chipset market.

Key players operating in the Wi-Fi Chipset industry are:

Broadcom Inc
Qualcomm Technologies, Inc.
ON Semiconductor Connectivity Solutions, Inc.
Intel Corporation
Celeno

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Window Treatment Industry: Sales/Retail Channel Analysis, 2023 - 2030

Window Treatment Industry Data Book Covers Blinds & Shades, Curtains, and Shutters Market

The global Window Treatment Industry was estimated at USD 30.71 billion in 2022 and is anticipated to increase at a significant CAGR of 8.0% from 2023 to 2030.

Grand View Research’s window treatment industry data book is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research.

Blinds & Shades Market Insights

The global blinds and shades market size was valued at USD 13.11 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 8.2% from 2023 to 2030. Blinds and shades are protective coverings used to shield windows from dust and control how much light enters a space. While shades are formed of one or more pieces of cloth, blinds are rigid window coverings manufactured of horizontal slats. These coverings offer several benefits, including resistance to dirt and wetness, extreme durability, insulation, control over light, and maintenance of privacy. This remains a significant driver in the market's expansion.

The expansion of the blinds and shades market is anticipated to be boosted by an increase in the construction of residential and commercial structures. The need for blinds and shades is fueled by rapid urbanization and an increase in people's living standards. According to World Urbanization Prospect projections, 66% of the population would reside in urban and municipal areas by 2050, up from about 54% in 2014, which will increase demand for blinds and shades.

Both residential and commercial structures benefit from the aesthetic appeal and greater insulation that blinds and shades provide. Additionally, the thermal insulation, heat resistance, water resistance, durability, and energy-saving features of these blinds and shades are anticipated to increase consumer demand throughout the projected period. However, the availability of alternatives is anticipated to impede market expansion.

The competition has been maintained and the product portfolio has been improved by major competitors through a variety of techniques, including product launches and acquisitions. For instance, Bed Bath & Beyond Inc. introduced its own brand, ever home, in May 2022. Today, many homes offer adaptability with their aesthetic, energizing color scheme, and airy design. Their key categories include bedding, bath, outdoor décor, and interior decor. It also offers window treatment goods, such as freshly designed blinds and shades, within the interior décor category.

Blinds & Shades Market Share, by Type, 2022 (%)

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Curtains Market Insights

The global Curtains market size was estimated at USD 10.42 billion in 2022 and is expected to grow at a compounded annual growth rate (CAGR) of 8.0% from 2023 to 2030. Curtains are a traditional way to cover windows, thereby these products are widely popular among consumers looking for economical options. Moreover, the rise of smart homes has led to the integration of advanced technology into everyday items, enhancing convenience and automation. In response, key players in the home automation industry are introducing innovative products like smart curtains and drapes. For instance, in August 2022, Xiaomi launched Xiaomi Mijia Smart Curtain Motor 1S which can be controlled using the Mijia app, and accompanying remote control, with voice command or even a gentle tug to start the motor.

Moreover, consumers are driven by the desire to enhance the overall aesthetics and style of their living spaces. Consumers are opting for curtains that complement their interior design theme, color scheme, and personal taste. The curtains' appearance, patterns, textures, and fabric choices play a crucial role in meeting consumers' aesthetic preferences is another factor driving the adoption of curtains among consumers. In addition, consumers value curtains that serve multiple functions. Curtains that offer both privacy and light control, along with other features like thermal insulation or noise reduction, are gaining popularity among consumers.

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Window Treatment Industry Data Book Competitive Landscape

In the market, a mix of established companies and emerging players exists. Several prominent players are strategically capitalizing on the market's growing trends while expanding their range of services to sustain and increase their market share.

Key players operating in the Window Treatment Industry are:

Hunter Douglas
Lotus & Windoware, Inc.
Bombay Dyeing
Insolroll
Mariak
Welspun India Limited

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Heating Equipment Industry: Application Estimates and Trend Analysis, 2023 - 2030

Heating Equipment Industry Data Book Covers Heat Pump, Unitary Heaters, Warm Air Furnace, and Space Heating Boilers Market

The global Heating Equipment Industry was estimated at USD 119.7 billion in 2022 and is anticipated to increase at a significant CAGR from 2023 to 2030.

Grand View Research’s heating equipment industry database is a collection of market sizing information & forecasts, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports and summary presentations on individual areas of research.

Heat Pump Market Insights

The global heat pump market size was estimated at USD 81.6 billion in 2022 and is expected to grow at a compounded annual growth rate (CAGR) of 9.3% from 2023 to 2030. Favorable government policies for energy-efficient solutions and lowering carbon footprint are anticipated to boost market growth over the forecast period. Many governments are providing subsidies or incentives and tax credits & rebates for the installation of heat pumps are expected to further fuel the demand for energy-efficient heat pumps, thereby, benefitting the growth.

Fast-paced industrialization along with the growing population has resulted in massive energy consumption across the world. According to EIA’s U.S. residential energy consumption survey, heating, cooling, & ventilation accounted for half of the total home energy consumption. In 2021, based on total fuel consumption, natural gas accounts for 44%, and fuel oil & propane account for 9%. Furthermore, electricity was the most consumed energy source across the U.S. with households accounting for 47%. Thus, increasing demand for energy-efficient solutions and growing carbon footprints across the globe are expected to drive the market’s growth over the forecast period.

Unitary Heaters Market Share by Country, 2022 (%)

Unitary Heaters Market Insights

The global unitary heaters market size was estimated at USD 2,292.4 million in 2022 and is anticipated to grow at a compounded annual growth rate (CAGR) of 3.9% from 2023 to 2030. The growth of the market is expected to be driven by higher efficiency, lower noise levels, and lower operating costs. Moreover, unitary systems provide consistent temperatures across a household from one central unit. These factors are expected to positively impact product demand during the forecast year. Unitary heaters can be powered by various energy sources, including steam, hot water, propane, oil, and natural gas. Furthermore, with heating outputs ranging from 25,000 BTUs/hr to 400,000 BTUs/hr, a unit heater can heat a big room, such as a warehouse or mechanical shop. They are available in various efficiencies, with accepted efficiency units having a fixed capacity and high-efficiency units having variable capacities to maximize energy utilization.

Unit heaters are adaptable heating systems that deliver effective and targeted warmth in commercial, industrial, and residential applications. Individuals and organizations may make informed decisions about their heating needs by studying the types of unit heaters and their applications. Unit heaters provide a dependable and cost-effective solution for targeted heating requirements, whether they are used to maintain comfortable working conditions in industrial spaces, to complement central heating in commercial buildings, or to heat private garages and workshops.

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Warm Air Furnace Market Insights

The global warm air furnaces market size was estimated at USD 8.4 billion in 2022 and is expected to grow at a compounded annual growth rate (CAGR) of 3.2% from 2023 to 2030. The growth is expected to be driven by proper conditioning of the air offered by warm air furnace as compared to other heating systems. Furthermore, most warm-air furnaces embed humidification as a feature. This helps eliminate indoor air contaminants and humidity issues that can cause property damage and health issues. These factors are expected to positively impact product demand during the forecast period.Warm air furnaces are high-efficiency appliances with Annual Fuel Utilization Efficiency ratings as high as 99%.

Furthermore, the hydronic and electric heating systems also take longer to heat the area, but warm air furnace offer shorter start times and bring comfort to the entire area in minutes. Furthermore, warm air furnaces are noted for their longevity and dependability, with an average life expectancy of 15-30 years, outliving heat pumps and boilers. These aforementioned factors are anticipated to propel the demand for warm air furnace in the coming years.

Space Heating Boilers Market Share by Country, 2022 (%)

Space Heating Boilers Market Insights

The global space heating boilers market size was estimated at USD 27.4 billion in 2022 and is anticipated to grow at a compounded annual growth rate (CAGR) of 3.4% from 2023 to 2030. Rising awareness of environmental issues and the need to reduce greenhouse gas emissions have driven a strong emphasis on energy-efficient and environmentally friendly space heating boiler solutions. Governments globally have been implementing regulations and incentives to encourage the adoption of more efficient and cleaner space heating boiler technologies.

Growing demand for sustainable buildings coupled with the growing adoption of high-efficiency space heating systems are expected to drive the demand for space heating boilers in the U.S. in the coming years. Various green building certifications, including LEED (Leadership in Energy and Environmental Design) and Energy Star, have gained popularity in the U.S. These recognize buildings that meet high standards of energy efficiency and sustainable design, incentivizing developers and investors to invest in such projects.

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Heating Equipment Industry Data Book Competitive Landscape

The manufacturers of Heating Equipment adopt several strategies, including merger & acquisition, partnership & joint ventures, new product developments, distributor agreements, new online channels, and geographical expansions, to augment their market presence and cater to the ever-changing consumer requirements.

Key players operating in the Heating Equipment Industry are:

Carrier
Daikin Industries Ltd.
Ingersoll-Rand Plc (Trane)
Robert Bosch GmbH
Danfoss

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Increasing Adoption for Shared Micro-Mobility Services drives Micro Mobility Industry by 2030

Micro Mobility Industry Data Book - Electric Kick Scooters, Electric Skateboards and Electric Bikes Market Size, Share, Trends Analysis, And Segment Forecasts, 2022 - 2030

Grand View Research’s micro mobility industry data book is a collection of market sizing & forecast insights, regulatory & technology framework, pricing intelligence, volumetric analyses, competitive benchmarking analyses, and macro-environmental analyses studies. Within the purview of the database, such information is systematically analyzed and provided in the form of summary presentations and detailed outlook reports on individual areas of research. The following data points will be included in the final product offering in four reports and one sector report overview.

Access the Global Micro Mobility Industry Data Book, 2023 to 2030, compiled with details like trade data, pricing intelligence, and competitive benchmarking.

Electric Kick Scooters Market Report Highlights

The global Electric Kick Scooters Market size was valued at USD 2.61 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 11.5% from 2022 to 2030.

The Lithium Ion (Li-Ion) segment dominated the market in 2022 and is expected to reach USD 11.7 billion by 2030.
The personal segment dominated the market in 2022. The segment is expected to hold more than 60% market share.
Europe is projected to account for the high market share and is expected to reach USD 7.3 billion by 2030.

Electric Skateboards Market Report Highlights

The global Electric Skateboards Market size was valued at USD 980.3 million in 2021 and is projected to exhibit a compound annual growth rate (CAGR) of 7.8% from 2022 to 2030.

Electric skateboards exhibited a low growth rate until 2018 owing to government regulations concerning the ban of e-skateboards in Germany, the U.K., and the Netherlands.
Governments globally have categorized these micro-mobility vehicles under electric skateboards and have banned their use on roads to avoid traffic congestion and accidents.
The price of raw materials is directly proportional to the prices of electric skateboards, kick scooters, and bicycles.
The major components for micro-mobility vehicles include batteries, vehicle frames, electric motors, controllers, tires, brakes, and other plastic components.

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Electric Bicycles Market Report Highlights

The global Electric Bicycles Market size was valued at USD 17.83 billion in 2021 and is expected to grow at compound annual growth rate (CAGR) of 14.5% from 2022 to 2030.

The electric bikes/bicycles segment is anticipated to witness significant growth over the forecast period.
The favourable government initiatives, advances in technology, growing awareness about performance-based adventure, and rising preference for leisure activities are some of the factors that are expected to drive the growth of the segment.
These bikes also offer features, such as integrated navigation, remote diagnostics, social-media connectivity, ant-theft systems, and automatic emergency calls.
Electric bicycles play a major role in addressing challenges associated with traffic congestion in cities.
The market is growing moderately as electric bikes are mostly used for intra-city commutes and are mostly preferred across the younger age group as these are usually categorized under non-motorized vehicles.

Go through the table of content of Micro Mobility Industry Data Book to get a better understanding of the Coverage and scope of the study

Competitive Landscape

The micro-mobility market has witnessed several new product launches in recent years. For instance, In March 2022, Yamaha Motor Corporation. U.S.A. launched two new E-bikes: the CrossCoreRC and the Wabash RT for the U.S. market. The Wabash RT E-bike is designed for long hauls off-road, while CrossCore RC is a fitness-focused bike with ergonomic grips, a flat handlebar, and a riding position made of extended fitness.

Key players operating in the Micro Mobility Industry are:

Yadea Technology Group Co., Ltd.
JIANGSU XINRI E-VEHICLE CO., LTD.
Xiaomi
SEGWAY INC.
SWAGTRON
Boosted USA
Airwheel Holding Limited

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Handbag Industry Driver, Restraint, Challenge and Opportunities Outlook, 2023 - 2030

Handbag Industry Data Book Covers Tote Handbag, Clutch Handbag, and Satchel Handbag Market

The global Handbag Industry was estimated at USD 40,431.9 million in 2022 and is anticipated to increase at a significant CAGR of 6.1% from 2023 to 2030.

Grand View Research’s handbag industry data book is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research.

Tote Handbags Market Insights

The global Tote Handbags Market size was valued at USD 21,186.7 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 5.8% from 2023 to 2030. Tote bags are generally larger in size compared to other handbags, providing ample space to carry essentials such as laptops, books, gym clothes, groceries, or even beach accessories. Their roomy interior makes them ideal for everyday use and practical for various activities. Korean fashion and aesthetics have gained significant popularity among younger consumers worldwide. Tote bags align well with the minimalist, practical, and stylish aspects of Korean fashion trends, contributing to their increased demand.

Leather is a durable material known for its longevity. Leather tote bags are designed to withstand regular use and can handle the wear and tear of everyday life. The high-quality craftsmanship associated with leather goods ensures that these handbags can last for years, making them a worthwhile investment for many consumers. Many professionals, such as businesspeople, lawyers, and executives, prefer leather tote bags for their sleek and polished appearance. Leather tote bags' structured and professional look can enhance one's overall image in a work or formal setting.

Luxury accessories brands continuously innovate in terms of design, offering unique and distinctive leather tote bag designs that capture the attention of affluent consumers. These brands often set trends and establish themselves as leaders in the fashion industry and collaborate with designers, driving the demand for their leather tote bags. For example, in November 2022, Luca Nichetto, a well-known furniture designer collaborated with Angela Roi, a prominent accessories brand to design a tote bag crafted from apple skin leather.

Tote Handbag Market Share, by Material, 2022 (%)

Clutch Handbags Market Insights

The global Clutch Handbags Market size was valued at USD 12,364.5 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 6.0% from 2023 to 2030. The rise in disposable income, especially among the affluent population, has contributed to the increased demand for luxury bags. As consumers have more purchasing power, they are more likely to invest in high-end and designer handbags, including clutch bags, as a symbol of luxury and status. Clutch bags are often favored for social events and parties due to their compact size and stylish appeal. Consumers appreciate the convenience and elegance of clutch bags, which can elevate their outfits and make a fashion statement on special occasions.

Clutch handbags are characterized by their small size and lack of handles or straps, typically designed to be carried in one hand or tucked under the arm. Clutch leather handbags are versatile and can be easily paired with different outfits and occasions. They can be used during daytime events or dressed up for evening affairs, making them a versatile accessory choice. Also, the increasing prices of designer bags and their ever-increasing demand among high-income households have facilitated the overall demand for luxury accessories like leather clutch bags in countries like the U.S. and the U.K. For instance, according to Business and Fashion's new data and insights on June 2022, the average price of a women's designer bag in the US has increased by 27% since 2019.

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Satchel Handbag Market Insights

The global Satchel Handbag Market size was valued at USD 6,872.1 million in 2022 and will grow at a compound annual growth rate (CAGR) of 7.1% from 2023 to 2030. Satchel handbags can make a fashion statement by adding a touch of style and personality to an outfit. They come in a wide range of colors, patterns, and embellishments, allowing individuals to express their individuality and complement their personal style. The unisex design and versatility of satchel handbags have made them a preferred choice for individuals who appreciate a gender-neutral accessory.

Leather satchels are extremely popular in the UK, where they are seen as an essential fashion item. Although satchel bags, particularly leather ones, were originally worn by horse riders and motorcyclists, they are increasingly being adopted by customers from various walks of life due to their utility and convenience.

Go through the table of content of Handbag Industry Data Book to get a better understanding of the Coverage and scope of the study

Handbag Industry Data Book Competitive Landscape

The manufacturers aim to achieve optimum business growth and a strong market position through the implementation of various strategies such as acquisitions, new product launches, collaborations, and strengthening of distribution networks in the global as well as regional markets. Handbag manufacturers aim to intensify their market positions by widening their customer base. Thus, multinational players are aiming to achieve business growth in the regional market through mergers, acquisitions, and other strategic initiatives.

Key players operating in the Handbag Industry are:

Sangetsu Corporation
Louis Vuitton
Hermès International S.A
Michael Kors
Fossil Group, Inc.

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Hand Protection Equipment Industry: Disposable Medical Gloves Market to expand at a CAGR of 5.3% by 2030

Hand Protection Equipment Industry Data Book Covers Disposable Gloves, Disposable Medical Gloves, Nitrile Gloves, Rubber Gloves, and Nonwoven Disposable Gloves Market

Grand View Research’s hand protection equipment industry database is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook report and summary presentations on individual areas of research.

Access the Global Hand Protection Equipment Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

Disposable Gloves Market Growth & Trends

The global disposable gloves market size is expected to reach USD 16,772.4 million by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.8% from 2023 to 2030. The high prevalence of the COVID-19 pandemic, particularly in North America and Asia Pacific, is projected to augment the demand for disposable gloves. The COVID-19 pandemic had boosted the demand for disposable gloves, which strained the supply chain, thus creating a shortage in the market. Furthermore, disposable glove manufacturers are expanding their production capacities to meet the growing demand, thereby improving the global supply chain over the past few months.

The rising awareness regarding employee health and safety, along with the increasing industrial fatalities in the emerging economies, is projected to boost the market growth over the forecast period. Technological advancement, coupled with the growing consumer need for disposable gloves in medical operations, is anticipated to complement the market growth. Distributors play a vital role in the market as the product manufacturers are dependent on the distributors to get their products to consumers. Globalization and consolidation of gloves manufacturers are anticipated to have a significant impact on the distributors, which is projected to compel them to broaden their horizons and look beyond the traditional boundaries.

Disposable Gloves Market share, by country, 2022 (%)

Disposable Medical Gloves Market Growth & Trends

The global disposable medical gloves market size is anticipated to reach USD 12.44 billion by 2030, registering a CAGR of 5.3% over the forecast period, according to a new report by Grand View Research, Inc. The global market is primarily driven by the increasing prevalence of infectious diseases and viral outbreaks coupled with increasing rising expenditure. Factors, such as growing investments in both public & private sectors, an increasing geriatric population, and a high influx of migrants coupled with the increasing healthcare expenditure are expected to boost the healthcare industry growth, which, in turn, will boost the product demand. The adoption of novel practices in the healthcare & medical settings and the development of better medical care products & technologies are projected to drive the demand for healthcare services and the need for modern medical infrastructure.

This, in turn, will drive the market over the years to come. Due to the COVID-19 pandemic, many players adopted automation. The use of robotics in the manufacturing of gloves and other processes, such as packaging and counting, are emerging in the market. For instance, Doka Industrial Automation designed a machine to automate the process from manufacturing to the packaging of gloves. The resurgence of the COVID-19 is expected to increase hospital visits and boost the product demand. Companies are undertaking strategic investments to strengthen their product portfolio. For instance, in March 2021, Hartalega Holdings Berhad bought land in Kedah from Northern Gateway Free Zone Sdn Bhd of 250 acres for USD 55.4 million to expand its manufacturing operations of gloves.

Order your copy of the Free Sample of “Hand Protection Equipment Industry Data Book - Disposable Gloves, Disposable Medical Gloves, Nitrile Gloves, Rubber Gloves and Nonwoven Disposable Gloves Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research

Nitrile Gloves Market Growth & Trends

The global nitrile gloves market size is anticipated to reach USD 10.19 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to expand at a CAGR of 5.7% from 2023 to 2030. The industry is primarily driven by rising healthcare expenditures, the growing importance of safety at workplaces, and a significant surge in protective equipment demand during the COVID-19 pandemic.

Increasing awareness among industry participants regarding the importance of worker safety and security at workplaces, on account of the stringent regulations and high costs associated with workplace hazards, is anticipated to drive market growth. The importance of worker safety has significantly increased owing to the increasing employment in industries across Asia Pacific. The rapid spread of the COVID-19 pandemic is anticipated to increase the demand for nitrile gloves among frontline healthcare workers for testing and examination purposes.

In addition, nitrile gloves have witnessed a substantial increase in demand in the healthcare industry on account of their necessity in various other healthcare and medical applications. Increasing requirement of hand protective equipment by healthcare professionals during the COVID-19 pandemic in 2020 has boosted the demand for nitrile gloves across the globe. Hence, manufacturers such as Top Glove Corporation Bhd and Kossan Rubber Industries Bhd had to increase their manufacturing capacity to match global demand.

Nitrile Gloves Market share, by country, 2022 (%)

Rubber Gloves Market Growth & Trends

The global rubber gloves market size is expected to reach USD 18.28 billion by 2030, according to a new report by Grand View Research, Inc, expanding at a CAGR of 3.9% over the forecast period. Rising government spending on healthcare in countries, such as Germany, Italy, India, Australia, and the U.K., is likely to boost industry expansion over the forecasted period. The global COVID-19 pandemic augmented the need for Personal Protective Equipment (PPE), such as gowns, gloves, face shields, and masks. Governments from across the world are coordinating with rubber glove makers to ensure enough supply in the market and avoid future virus spread.

Rising product usage in industries, such as automotive, oil & gas, construction, clean room, metal & equipment, and chemicals, is driving the industry growth. This is due to the presence of strong rules governing worker safety in numerous nations, such as the Occupational Safety and Health Administration (OSHA), as well as the high expenses associated with workplace dangers. The product demand is predicted to increase as more food & beverage sector operators, such as bakeries, packaged goods, and restaurants, focus on making their products free of direct touch. This can be related to increased consumer awareness about food hygiene and the prevention of illnesses caused by food deterioration and misuse.

Increasing awareness among industry participants regarding the importance of worker safety and security at workplaces, on account of the stringent regulations and high costs associated with workplace hazards, is anticipated to drive industry growth. The importance of worker safety has significantly increased owing to the growing employment in industries across the Asia Pacific and the Middle East regions. Manufacturers in the market are seeking collaborations, mergers, and acquisitions to expand their product lines and increase production capacity. They are also focusing on increasing their manufacturing facilities to accommodate rising demand from critical end-use industries, such as oil & gas, healthcare, and pharmaceutical.

Go through the table of content of Hand Protection Equipment Industry Data Book to get a better understanding of the Coverage & Scope of the study

Competitive Landscape

Key players operating in the Hand Protection Equipment industry are:

Top Glove Corporation Bhd
Hartalega Holdings Berhad
Superior Gloves
Adenna LLC
MCR Safety

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Agriculture Equipment Industry is driven by Changes in Farming Practices

Agriculture Equipment Industry Data Book Covers Agriculture Tractors & Tractors Implements, Agriculture Equipment Market

Grand View Research’s agriculture equipment industry data book is a collection of market sizing information & forecasts, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.

Access the Global Agriculture Equipment Industry Data Book, 2022 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

Agriculture Equipment Market Growth & Trends

The global agriculture equipment market size is projected to reach USD 236.04 billion by 2030, registering a CAGR of 5.0% from 2022 to 2030, according to a new study by Grand View Research Inc. Shortage of labor worldwide particularly in Western Europe and the U.S. will play a key role in driving the adoption of agriculture equipment over the forecast period. Furthermore, shortage of labor in the field of agriculture equipment and telematics to monitor tractor performance and improve farm yield is also anticipated to propel the growth of the market. Apart from advancements in the agriculture equipment space and shortage of labor shortage, the growing population to meet the global food requirements will also be a major factor, increasing demand in the long term.

Favorable government initiatives to reduce the financial burden on farmers or incentivize agriculture equipment purchase will also be a major factor driving the growth of the market. For instance, the Pradhan Mantri Krishi Sinchai Yojana (PMKSY) and Pradhan Mantri Kisan Samman Nidhi (PMKSN) schemes in India aimed at offering financial assistance to low-income farmers. Apart from schemes supporting agricultural activities in the emerging economies, COVID-19 pandemic assistance from developed countries/regions, such as the United States and European Union in 2020 eased the financial burden of farmers in 2020. For instance, the announcement of the Pandemic Assistance for Producers initiative in the U.S (2020) and negotiations on European Union Common Agricultural Policy in Europe (2021).

The COVID-19pandemic hampered the growth of the market for agriculture equipment in H1 2020. A government-imposed lockdown and stringent regulations impeded business activities worldwide, including the agriculture equipment industry, consequently impacting sales. Several key players in the market, including AGCO Corporation, Deere & Company, and KUBOTA Corporation reported a dip in sales from Q1 2020 to Q2 2020. Although the year 2020 witnessed a slight dip, it was offset by the economic revival post-Q2 2020.

In 2021, the market recorded double-digit growth owing to the pent-up demand and backlog orders resulting from the pandemic. This trend will continue over the short term to meet backlogs from 2020 and replace aging equipment over the forecast period. Although, the overall market statistics paint a rosy picture over the short-term, supply chain disruptions could still pose a threat due to low inventory levels at an OEM level.

Order your copy of the Free Sample of “Agriculture Equipment Industry Data Book - Agriculture Tractors & Tractors Implements, Agriculture Equipment Market Size, Share, Trends Analysis, And Segment Forecasts, 2022 - 2030” Data Book, published by Grand View Research

Agriculture Implements Market Trends Strategy by Participants

Agriculture Implements Market Growth & Trends

The global Agriculture Implements Market size is expected to reach at a CAGR of 5.0% over the forecast period. This growth is accredited to rising awareness among farmers pertaining to the benefits of power equipment that are attached to tractors and is expected to support the agriculture implements market. Likewise, increasing demand for food production and crop protection is expected to increase demand for machinery such as harvesting, sowing, seeding, etc. this is expected to support the growth of the tractor implements market.

Additionally, some of the key manufacturers are focused on catering to the rising demand for low-cost, multiple combining, and compact tractors with high engine power. For instance, in 2016, Deere & Company stated its plan to focus on the manufacturing of agricultural tractors that are below 40 HP for the Indian market. Compact and high-engine power tractor with multiple combining provides the advantage of attaching double attachments simultaneously.

Go through the table of content of Agriculture Equipment Industry Data Book to get a better understanding of the Coverage & Scope of the study

Competitive Landscape

Key players operating in the Agriculture Equipment industry are:

AGCO Corp.
CNH Industrial N.V.
Deere & Company
CLAAS KGaAmbH
Escorts Ltd.

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White Spirits Industry: Vodka Market Size to Expand at a CAGR of 6.2% by 2030

White Spirits Industry Data Book Covers Vodka, Rum, and Gin Market

The global White Spirits Industry size generated over USD 57.37 billion in 2022 and is expected to grow at a significant CAGR of 6.0% over the forecast period.

Grand View Research’s white spirits industry data book is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research.

Vodka Market Insights

The global vodka market size was valued at USD 35.94 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.2% from 2023 to 2030. The rising demand for vodka can be attributed to the growing consumption of premium vodka-based cocktails in developed economies such as the U.S. and Germany. The growing demand for vodka flavors such as cranberry, lime, and raspberry is augmenting growth. Moreover, offline trading of alcoholic beverages is further anticipated to boost market growth over the forecast period. The growing acceptance of grain-based vodkas with a delicious fruity taste is the major factor driving market growth.

Moreover, a rise in demand for natural and authentic flavors has been observed. The influence of social media and blogging sites is further supporting the growth of the global vodka market. Consumers are now more active on social networking platforms and aware of a variety of flavored vodkas and cocktails. For instance, Tito’s Vodka is marketed as “handcrafted vodka” on the company's social media account. Likewise, there are many blog posts on the internet that discuss vodka brands under different categories, such as flavored vodka and organic vodka.

The procurement of citrus cocktails at a reasonable cost is an upcoming opportunity for the market. However, the inclination of consumers toward non-alcoholic beverages is hindering market growth. At present, key players are focused on launching fruit-based vodka flavors, with minimal alcohol content. Hence, the vodka market is expected to record significant market growth during the review period. Growing investment from major players to procure superior-quality ingredients, such as blueberries and ruby red grapefruits, is propelling the market growth. The rising procurement of organic infusions across the world is driving the industry's growth. In addition, premium brands are focusing on introducing deliciously, flavored vodkas with crisp notes.

The popularity of e-commerce among consumers is also favoring the growth of vodka through online distribution channels. Direct-to-consumer (DTC) and other e-commerce channels that sell vodka have the potential for strong growth from a small base. Players engaged in direct-to-consumer approaches have employed different business models to legally sell to consumers directly. For one, distilleries are selling direct-to-consumer at a physical location or online. Third-party cocktail clubs (e.g., SaloonBox) are gaining popularity due to the “cocktail culture” trend, wherein clubs deliver expert-curated cases of spirits and cocktail ingredients; retail partners deliver the liquor, while the cocktail ingredients are shipped directly. The adoption of different models will likely favor the growth of the market.

Vodka Market Share, by Type, 2022 (%)

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Rum Market Insights

The global rum market size was valued at USD 13.49 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 5.9% from 2023 to 2030. Factors such as increasing consumer interest and expanding cocktail culture are expected to drive the industry growth globally. Product innovation and diversificationhave attracted new consumers and provided existing consumers with a wider range of options to choose from. Furthermore, there has been a shift in consumer preferences toward spirits with natural and authentic qualities. Rum, as a product with a rich history and often produced from natural ingredients like sugarcane, appeals to consumers seeking authentic and artisanal products.

The growing curiosity and interest among millennial consumers in the authenticity and quality of alcoholic beverages is driving the market. Craft rum, with its smooth flavor, premium quality, and genuine taste, is particularly popular among consumers. It is often produced on a small scale by producers who actively participate in the production process. Artisan producers promote their drinks by emphasizing the country of origin, age, and organic certifications, which attract greater attention from customers. Consumers are increasingly seeking quality drinks with an interesting story, craft credentials, and origin.

Rum is a distilled alcoholic drink made from sugarcane juice or fermented sugarcane molasses which contains natural flavors and oil and contains 40% ABV to 57.7% ABV in minimum overproof rums. The rising popularity of cocktail culture globally has led to an increased sense of adventure among consumers when it comes to their beverage preferences. Rum, being a versatile spirit, has become a sought-after choice in cocktail recipes like mojitos, piña coladas, and daiquiris. As the cocktail culture continues to expand, the demand for rum has witnessed a significant surge.

The presence and engagement of the younger generation in social establishments such as nightclubs, pubs, and bars have created a favorable environment for rum consumption. This demographic demonstrates a higher propensity for exploration and seeks out distinctive and trendy alcoholic beverages, including rum-based cocktails. The growing influence of this demographic within these establishments further contributes to the growth of the rum industry.According to Distilled Spirits Council, millennials constitute just 29% of the drinking-age population; however, they over-index on consumption across all major types of alcohol. In spirits alone, they comprise 32% of consumption by value and this is expected to continue as millennials mature and their buying power increases.

Go through the table of content of White Spirits Industry Data Book to get a better understanding of the Coverage & Scope of the study

White Spirits Industry Data Book Competitive Landscape

The manufacturers aim to achieve optimum business growth and a strong market position through the implementation of various strategies such as acquisitions, new product launches, collaborations, and strengthening of distribution networks in the global as well as regional markets. White spirits material manufacturers aim to intensify their market positions by widening their customer base. Thus, multinational players are aiming to achieve business growth in the regional market through mergers, acquisitions, and other strategic initiatives.

Key players operating in the White Spirits Industry are:

Diageo plc
Rémy Cointreau
Bacardi Limited
Pernod Ricard
Beam Suntory, Inc.

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About Grand View Research

Grand View Research, U.S. based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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