Electrical & Electronics Industry - Market Research Report

  The global range hood market size is anticipated to reach USD 13.82 billion by 2025 registering a CAGR of 4.3%, according to a new report by Grand View Research, Inc. Extensive usage of IoT devices and smart features in range hood devices is expected to be the key factor driving the market. Furthermore, changing lifestyles due to busy work schedules along with increasing number of hotels and food chains, particularly in developing countries like India and China, are accelerating the market growth. Stringent regulations by governments to ensure cleanliness and hygiene in commercial kitchens is also likely to augment the demand for these products over the forecast period. For instance, in India, Serve Safe, a nationwide initiative by the Food Safety and Standards Authority of India, ensures the safety of food. The under cabinet hood product type segment accounted the highest market share in 2018 and is projected to maintain its leading position during the forecast years. This growt...

  The global pressure vessels market size is expected to reach USD 75.82 billion by 2030 registering a CAGR of 3.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growing demand for pressure vessels in chemical & petrochemical and oil & gas industries is expected to drive market growth. Pressure vessels are containers used to hold high-pressure gases and liquids in various application industries including petrochemicals, chemicals, natural gas storage systems, nuclear reactor vessels, distillation towers, and hot water storage tanks. The ever-increasing need for energy is anticipated to propel the product demand in various application industries. Increasing chemical demand from various end-use industries is encouraging new capital investment in chemical industry. The production capacity of chemicals is expected to increase on account of setting up of new chemical facilities. This is expected to augment the demand for various types of pressure ...

  The global contraband detector market size was estimated at USD 4.48 billion in 2023 and is projected to grow at a CAGR of 7.8% from 2024 to 2030. The market is experiencing significant growth due to increasing global security concerns. With rising incidences of terrorism, smuggling, and illegal trafficking, governments and organizations worldwide are investing heavily in advanced security technologies to protect public spaces, borders, and critical infrastructure. This increased focus on security drives demand for sophisticated detection systems that effectively identify hidden threats. Enhanced security protocols in airports, seaports, and public venues require state-of-the-art contraband detection solutions. The need for better prevention measures has led to developing and deploying more sophisticated technologies. As a result, there is a growing market for detectors that can accurately and efficiently identify contraband items. This trend is further supported by increased fun...

The global laptop market size is expected to reach USD 334.51 billion by 2030 and grow at a CAGR of 6.9% from 2023 to 2030, according to a recent report from Grand View Research, Inc. The market has been experiencing growth over the past few years, and the trend is expected to continue over the forecast period. A significant portion of the growth of the market can be attributed to increased government initiatives. For instance, in June 2021, the Zimbabwe Information Technology Company (ZITCO), a local computer assembly joint venture between Chinese firms and government entities, started supplying desktops and laptops to government departments. ZITCO aims to produce 150,000 ICT units annually and has already made available funding for a second batch of 1,500 units for various government departments. Another factor driving market growth is an increase in demand for gaming. According to the India Brand Equity Foundation (IBEF), the Indian gaming market was estimated to be worth around USD...

  The global coating equipment market size was estimated at USD 16.62 billion in 2021 and is expected to expand at a compounded annual growth rate (CAGR) of 5.3% from 2022 to 2030. The growing product demand in various applications such as aerospace, automotive, and construction is expected to drive the industry’s growth. The coatings industry endured a serious slump as a result of the impact of the shutdown imposed to stop the spread of the coronavirus. As a result, demand for coatings nearly dropped in many places and was unlikely to be revived until governments relaxed their stringent stay-at-home regulations, allowing their respective economies to return to some sort of stability. The global coating equipment market is one of the primary industries that would experience supply chain delays and industrial interruptions as a result of COVID-19 regulations. The shutdown of various facilities and industries in key locations is affecting global supply chains and significantly harmin...

  The global industrial refrigeration systems market size is anticipated to reach USD 27.66 billion by 2030, registering a CAGR of 4.4% from 2023 to 2030, according to a new report published by Grand View Research, Inc. The demand for industrial refrigeration is increasing due to the fast-moving consumer goods and retail food which needs efficient storage for perishable edible items. Governments are taking initiatives to support and strengthen the cold chain infrastructure and shifting towards eco-friendly refrigeration systems. Global warming and climate change have alarmed nations to take the necessary step to curb the crisis. As a result, industrial refrigeration system manufacturing companies have expressed concerns regarding the potential of global warming and ozone depletion of their refrigerants. As a result, companies are focusing on technologies to offer improved cost-effectiveness, lesser toxic refrigerants, lower energy consumption, and less toxic materials. For instance...

  The global heat exchangers market size is expected to reach USD 26.26 billion by 2030, registering at a CAGR of 5.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. Rising demand from various industries, including chemical & petrochemical, and power generation, along with an increasing focus on improving efficiency standards is expected to drive the market. The presence of favorable government regulations in the emerging economies of China, India, Brazil, and Mexico about setting up new manufacturing facilities is expected to spur the demand for heat exchangers in various industries. In addition, upcoming nuclear power projects, particularly in the Asia Pacific, are anticipated to drive market growth during the forecast period. Technological advancements coupled with constant efforts and investments by major market participants in product innovation and research & development are expected to increase the market competitiveness over the coming yea...

The global flight simulator market was valued at USD 5.18 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 4.2% from 2023 to 2030. Flight simulators provide various benefits, including mission-critical training programs that improve operational efficiency, lower operational costs, and offer advanced visual systems. These features deliver a near-real-world training experience, paving the way for new growth opportunities in the coming years. Additionally, the rising demand for efficient and effective pilot training, coupled with increasing awareness of aircraft safety and the importance of robust training, is expected to drive market growth during the forecast period. The industry's growth is fueled by the need for advanced training in flight handling and safety operations, such as improving situational awareness and skill competency. Research and development efforts in aerospace technology, along with technological advancements, have led to the cre...

The global grow light market was valued at USD 4.23 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 15.0% from 2022 to 2030. The market growth is primarily driven by the rising popularity of urban cultivation, vertical farming, and the increasing adoption of sustainable methods for producing fruits and vegetables. The surge in the global population has further amplified the demand for urban agriculture. Vertical farming, which involves growing crops in vertically stacked layers within spaces like warehouses, skyscrapers, or shipping containers, has also played a crucial role in market expansion. Grow lights are instrumental in extending natural daylight hours, which enhances plant health, growth rate, and yield. Artificial lighting solutions, including high-pressure sodium, LED, and plasma lights, enable year-round crop availability by extending growing seasons. The growing awareness of alternative farming methods, driven by the limited availability ...

  The global head-up display (HUD) market was valued at USD 4.75 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 15.7% from 2023 to 2030. This market growth is primarily fueled by the affordability of HUD products and their seamless integration with smartphones, which enhances driver safety by minimizing distractions. The demand is further boosted by advanced features like global positioning systems (GPS) and augmented reality (AR) integration. HUD technology enables the display of information directly within the driver's field of view, allowing drivers to maintain their attention on the road. Initially developed for aviation and military use, HUDs are now widely applied in automobiles, commercial aircraft, and wearable devices. The industry’s expansion is also driven by rising disposable incomes, which have increased individual purchasing power. As the modern population becomes more tech-savvy, there is growing acceptance of advanced products th...

The global commercial refrigeration equipment market was valued at USD 40.82 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 5.2% from 2023 to 2030. Market growth is largely driven by the expanding hospitality and tourism sectors, as well as the increasing preference among consumers for takeaway meals. Additionally, regulatory changes favoring low global warming potential (GWP) refrigerants and ongoing technological advancements are expected to create substantial growth opportunities. The growth of international food trade has also increased the demand for commercial refrigeration systems, especially for frozen foods, processed foods, and seafood that require storage and transport. Technological innovations, such as liquid-vapor compression and ammonia absorption systems, are further driving product demand. Key manufacturers are focusing on research and development (R&D) to improve design and temperature control, thereby gaining a competitive edg...

The global digital workplace market was valued at USD 48.81 billion in 2024 and is projected to expand at a compound annual growth rate (CAGR) of 22.8% from 2025 to 2030. The market growth is largely driven by increasing digitalization, the rising demand for desktop-as-a-service (DaaS), and the growing adoption of remote and hybrid work models. The COVID-19 pandemic accelerated the shift toward flexible work environments, prompting organizations to invest in digital workplace solutions that facilitate smooth collaboration and communication, regardless of physical location. This trend endures as companies recognize the long-term advantages of flexible work structures. In addition, the digital workplace market is witnessing heightened demand for employee experience platforms as businesses increasingly focus on employee engagement and retention. These platforms—often featuring unified communication tools, self-service portals, and personalized interfaces—are designed to enhance the user e...

  The global perimeter security market reached a valuation of USD 64.60 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 9.4% from 2023 to 2030. Rising terrorism threats and cross-border intrusions have led governments to implement stringent national security measures, which drive market growth. Additionally, the expansion of smart city initiatives and infrastructure projects is a key factor propelling the market forward. Increasing government support for deploying various security systems in critical areas further supports this growth. Technological advancements in automation, like video analytics and aerial drones, are rapidly being adopted to improve security outcomes. With growing public safety concerns, manufacturers are now offering advanced multilayered perimeter protection solutions. Popular technologies include electronic fencing with sensors, infrared, and fiber-optic intrusion detection systems. Perimeter security systems are widely uti...

The global interactive display market was valued at USD 41.45 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 7.8% from 2023 to 2030. This market includes interactive kiosks, video walls, tables, monitors, and whiteboards. Interactive displays, or touchscreen displays, are screens that respond to user commands through touch, either by finger or stylus, eliminating the need for traditional input devices like a mouse or keyboard. These displays project information such as text, images, and videos and are widely utilized across industries, including retail, healthcare, hospitality, and education. Expected market growth is driven by rising demand for digital classrooms and the increasing adoption of display technologies, such as video walls and tables, commonly seen in transit areas like railway stations and airports. The hospitality and corporate sectors are also seeing a surge in the use of touchscreen tables and video walls, which are anticipated to f...