Mexico, Canada, and China rely heavily on US’s supply of fabricated metals products
The reports highlight the major market trends, drivers, challenges and several other factors that are expected to change market dynamics during the forecast period.
The market research analysis identifies the increase in the power-to-weight ratio of aeroderivative gas turbines as one of the primary factors that will have a positive impact on the growth of the market during the forecast period.
The high power-to-weight ratio is one of the main characteristics of aeroderivative gas turbines.
For instance, the Iowa class battleships designed by the US Navy in the early decades of the 20th century used a 4,443-ton steam plant translating to a power-to-weight ratio of about 47.7 shp per ton.
Whereas, nowadays the same output can be obtained by four GE LM2500s or Rolls-Royce MT-30 gas turbines with a total machinery weight of about 118 tons.
Thus, there will be a significant increase in the replacement of steam turbines by gas turbines in the next few years, which augurs well for the growth of the market.
Global Sheet Metal Equipment Market 2016-2020
Technavio’s research analysts have projected that the sheet metal equipment market will show impressive growth during the predicted period and post a CAGR of almost 7 per cent by 2020.
This market research analysis identifies the growing demand for fabricated metal products as one of the primary growth factors for the sheet metal tools market.
The recent years have witnessed a rapid increase in the demand for fabricated metal products from the US.
Several countries such as Mexico, Canada, and China rely heavily on the US’s supply of fabricated metals products.
Although most manufacturing companies produce only a limited range of products, the requirement of fabricated metals will be considerably high from the segments such as cutlery, boiler, metal can, and springs.
Global Heat Pump Market 2016-2020
Extensive research carried out by the analysts at Technavio has shown that the heat pump market will witness steady growth and will post an impressive CAGR of over 10 per cent during the forecast period.
This market study identifies the growing demand for geothermal heat pumps as one of the primary growth factors for this market.
The constant rise in electricity costs has resulted in a major customer shift toward low-cost alternative energy sources such as geothermal energy as it offers considerable savings in cost and offers several environmental benefits.
Additionally, the increasing focus of several governments across the globe toward the use of renewable energy to check climate change and environmental degradation will also fuel the demand for geothermal heat pumps, in turn, augmenting the growth of the heat pump market.