The global optical spectrum analyzer market is set to grow exponentially in the coming years. In order to sustain their positions, the key market players are focusing on developing more sophisticated products.
Over the forecast period, the global biocomposites market is predicted to increase at an exponential rate of 16%. Valued at US$ 25 Bn in 2021, the biocomposites market is anticipated to reach US$ 128 Bn by 2032.
The DC switchgear market size in the United States is expected to grow by more than 5% by 2025. The same can be attributed to government initiatives to replace and upgrade existing distribution networks.
The market is fragmented, with key players accounting for approximately one fifth of the market share. These companies are likely to invest in new technology developments and expansion of their networks in order to maintain their market shares.
Growing global concern towards occupational safety and health combined with stringency in regulations ensuring the same are the two critical factors likely to push industrial vacuum cleaners sales in the next few years.
A Future Market Insights (FMI) analysis estimates electrical steel sales to increase at 6.5% CAGR between 2021 and 2031. According to the study, the overall electrical steel market is expected to reach US$ 70.5 Bn by 2031.