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Wilmington, Delaware, United States, Transparency Market Research Inc. -, Oct. 29, 2024 (GLOBE NEWSWIRE) — The welding and cutting equipment market (용접 및 절단 장비 시장) was valued at US$ 22.8 billion in 2022. A CAGR of 5.4% is projected from 2023 to 2031, with US$ 36.0 billion expected by the end of the decade. As infrastructure ages, the repair and maintenance of existing infrastructure is becoming increasingly important across many industries.

Welding and cutting equipment are indispensable in repairing metal structures, equipment, and machinery. Welding and cutting tools are continuously required to maintain aging infrastructure, such as pipelines, bridges, and industrial facilities.

Economic development depends heavily on the manufacturing sector. With the expansion of industries wishing to meet consumer demand, autos, electronics, machinery, welding, and cutting equipment are in higher demand. A metal fabrication tool, an assembly line tool, or a machinery tool is essential for fabricating metal components, assembly lines, and manufacturing machinery.

For infrastructure maintenance, pipeline construction, and component fabrication, many companies in the energy sector rely primarily on welding and cutting procedures. Welding and cutting equipment are continuously needed as global energy demand grows and cleaner energy sources are adopted.

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Key Findings of the Market Report

• The welding equipment type segment is projected to account for the largest share of the market over the forecast period.
• Manual operations are expected to dominate the market during the forecast period.
• Asia Pacific is expected to dominate the market over the forecast period.
• The growth rate in Europe and North America is predicted to remain strong during the forecast period.
• Indirect sales are expected to hold the majority of the market share during the forecast period

Global Welding and Cutting Equipment Market: Growth Drivers

• Infrastructure projects are in high demand worldwide as urbanization and industrialization increase. As these structures are constructed and maintained with welding and cutting equipment, the market for welding and cutting equipment will continue to grow.
• The advancement of technology in welding and cutting equipment has contributed to greater precision, safety, and efficiency. The demand for advanced welding and cutting equipment increases as companies strive to stay competitive by adopting these innovative technologies.
• Strict safety laws and environmental standards drive the adoption of advanced welding and cutting equipment. Manufacturers develop solutions to reduce fumes, sparks, and radiation exposure as industry standards are met. In addition to improving workplace safety, companies investing in modern equipment contribute to market growth.
• Increased globalization and international trade offer welding and cutting equipment manufacturers an opportunity to expand their markets. In addition, globalization facilitates knowledge exchange and technology transfer in the industry, thereby driving innovation.

Global Welding and Cutting Equipment Market: Regional Landscape

• Asia Pacific is rapidly industrializing, with notable expansion in the manufacturing sector seen in nations like China, India, and Southeast Asia. This expansion increases the demand for welding and cutting equipment in various industries, including automotive, construction, electronics, and shipbuilding.
• Asia-Pacific nations invest significantly in infrastructure development to facilitate economic growth and urbanization. Labor-intensive cutting and welding procedures are involved in large-scale construction projects such as power plants, transit networks, and commercial buildings, thus increasing equipment requirements.
• Asia Pacific is home to most automakers, including South Korea, China, Japan, and India. The need for welding and cutting equipment for automobile manufacturing processes such as body construction, assembly, and maintenance fuels demand in the region.
• The shipbuilding industry is large worldwide, with major participants in South Korea, Japan, and China. Welding and cutting tools are necessary for building ships, offshore platforms, and marine infrastructure. In Asia Pacific, the market for welding and cutting equipment is growing as long as there is a strong need for marine vessels and offshore structures.

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Global Welding and Cutting Equipment Market: Competitive Landscape

Major manufacturers are progressively focusing on developing smart cutting and welding machines to increase their market share in welding and cutting equipment. The following players have been profiled by Transparency Market Research in the report:

• ESAB
• American Torch Tip
• Ador Welding Limited
• The Lincoln Electric Company
• Arcon
• EWM AG
• Lorch Schweißtechnik GmbH
• Cruxweld Industrial Equipments Pvt. Ltd.
• Diffusion Engineers Limited
• Gullco International

Key Developments

• In September 2022, Bernard Centerfire-style GMAW consumables were available from American Torch Tip Co., providing welders with a fully OEM-compatible option. Several copper and brass contact tips are available in 11 sizes and shapes. A wide range of gas diffusers and nozzles made from copper or brass in 21 different shapes, sizes, and materials (large and slim) are available.
• In March 2024, ESAB will embark on a 20-country Eurotour to showcase one of the world’s most innovative mobile welding and cutting experiences. The ESAB Demobus, a mobile welding and cutting demonstration spanning over twenty European countries, will visit more than 100 cities by 2024. As part of the tour, which started in January, it will also visit Lithuania, France, Benelux, Italy, the UK, Ireland, Greece, Turkey, Southeast Europe, and Nordic countries in November.

Global Welding and Cutting Equipment Market: Segmentation

Type

• Stick Welders
• TIG Welders
• MIG Welders
• Stud Welders
• Others (Multi-process Welders, Spot Welding, etc.)

• Plasma
• Oxy-fuel
• Laser Cutting
• Others (Waterjet Cutting, Carbon Arc Cutting, etc.)

Operation

• Manual
• Semi-automatic
• Automatic

Price

Input Range (Voltage)

• Up to 50
• 51 to 200
• 201 to 350
• Above 350

Output Range (Amph)

• Up to 50
• 51 to 150
• 151 to 250
• Above 250

End Use

• Aerospace
• Automotive
• Construction
• Shipbuilding
• Furniture
• Others (Railways, Houseware, etc.)

Distribution Channel

• Direct Sales
• Indirect Sales

Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America

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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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Gondia, India, Oct. 29, 2024 (GLOBE NEWSWIRE) — As per our research, In 2023, the Battery Energy Storage Systems (BESS) market was valued at USD 21,473.22 Million and is expected to reach USD 186,623.45 Million by 2032 at the CAGR of 23.2% during 2024-2032, report published by IMIR Market Research

The Battery Energy Storage Systems (BESS) market is expected to have exponential growth during the forecasted period owing to the rising demand for the grid modernization, renewable energy integration and and sustainable energy solutions. Government and industries across different sectors are continuously focusing on reducing carbon emissions, enhancing grid resilience, and improving the energy reliability. Energy storage technology has been the best solution for this, led to increasing the market.

Figure: Global Battery Energy Storage Systems (BESS) Market, 2020-2032, (USD Million)

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The increasing renewable energy sources such as solar and wind coupled with rising demand for the EV Vehicles has intensified the need of the energy storage solution which can stabilize the grids and ensure effective power distribution. This report delves into the key market dynamics factors in the battery energy storage systems market, and the evolution of energy storage during the forecasted years.

Renewable energy sources like wind and solar energy require robust storage systems to manage the fluctuations in energy supply. Battery energy storage system plays a crucial role in providing the solution for this. It is expected that by 2050, over 50% of the power will be generated from the renewable sources which will skyrocket the demand for battery energy storage systems. Moreover, countries like U.S., China, Germany, UK and other are strive to meet their carbon-neutral goals.

According to the National Renewable Energy Laboratory (NREL), battery storage systems can offer several ancillary services to the grid, such as voltage control, frequency regulation, and peak shaving. Grid Modernization and Resilience Grid modernization, increasing adoption of electric vehicles, and increasing investments across the globe will boost the growth for battery energy storage systems market.

On the basis of application, the market is segmented into utility, commercial and industrial, and residential. Utility dominates the global market and is expected to reach over 80% of the share by 2032.

According to the IMIR Market Research, battery energy storage systems can reach the capacity of 540-650 gigawatt-hours (GWh) in annual utility-scale installations by 2032 where Utility segment will hold the share of over 83%.

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On the basis of regions, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The global battery energy storage systems market is highly fragmented, with different regions leading the way in terms of innovation, deployment, and policy support.

North America dominates the global battery energy storage systems market owing to the huge investments, favorable regulations, strong governmental support, and well-developed renewable energy infrastructure. European countries like Germany and the UK have implemented aggressive renewable energy strategies that rely heavily on energy storage systems for grid stability and energy security boosting the battery energy storage systems market.

Asia-Pacific witness the highest growth for the BESS market. After U.S., China is the 2^nd largest market for BEES as China is a global leader in battery manufacturing, and automotive production coupled with the huge investment in grid-scale storage systems. On the other hand, India is advancing rapidly with its ambitious renewable energy roadmap and electric mobility plans.

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Key Players and Competitor

ABB, BYD Company LTD, Panasonic Corporation, LG Energy Solution, Honeywell International, Inc., Samsung SDI Co., Ltd, Tesla, Delta Electronics, Inc., NGK Insulators, Ltd., GE Vernova, Hitachi Energy Ltd, Siemens, Toshiba Corporation, Primus Power Solutions, and others

Key Developments

• Later in January 2024, Grenergy locked in a partnership with BYD to secure 1.1 GWh of ESS. The agreement is for 2136 units of MC Cube ESS model, which is a high-performance battery developed by BYD, with blade batteries with reputation of safety and durability.
• ABB and Skellefteå Kraft deliver a state-of-the-art BESS to Sweden’s famous cultural hub, Sara Kulturhus in January 2023. There were challenges in the design to address due to a venue and the BESS was intended to provide reliable and clean electricity to the whole building. Using a transformer, six battery packs from Swedish native Northvolt, AC and DC switchgear from ABB, and inverters from EPC Power, BESS is masterfully composed and created after rigorous knowledge.
• May last year, Toshiba Corporation launched the 125VDC SCiB ESS featuring Lithium Titanium Oxide battery chemistry, LTO configurations that are both dependable and modulable in terms of cabinets. The Toshiba 125VDC SCiB ESS comes in several user capacities so they can be fitted to UPS or DC Load with 5kWh, 10kWh, 15kWh, or 20kWh.

Market Segmentations

• Based on Battery
  • Lithium-Ion Batteries
  • Advanced Lead-Acid Batteries
  • Flow Batteries
  • Others
• Based on Connection Type
• Based on Ownership
  • Customer-Owned
  • Third-Party Owned
  • Utility-Owned
• Based on Energy Capacity
  • Below 100 MWh
  • Between 100 to 500 MWh
  • Above 500 MWh
• Based on Application
  • Residential
  • Commercial and Industrial
  • Utility

What is included in the report? 

• Our in-depth market research study on global Battery Energy Storage Systems (BESS) market includes: 
• Data for over 20 country covering current and historical supply-demand assessment wherein market value and volume will be represented in USD Mn and Tonnes respectively
• Market Opportunities, Drivers, Restraint, and Trends across different regions
• Raw Material Analysis, Value Chain Analysis, Pricing Analysis, and Untapped Revenue Opportunity Analysis
• Competitive Landscape including Market Share Analysis, Company Profiling, Product Heat Map Analysis, Key Winning Strategies and others
• List of Buyers for Each Application Segments (Including Name, Email Address, Contact Details, Website)
• List of Raw Material Suppliers (Including Name, Email Address, Contact Details, Website)
• Detailed Data on Manufacturing Technology and Cost Structure Analysis along with the list of the regional machinery suppliers
• Macroeconomic Indicators, Microeconomic Indicators, Future Growth Prospects, Supply Chain Analysis, and many more

Free Sample Report: https://www.intellectualmarketinsights.com/download-sample/IMI-001605

Countries focusing on this report:

North America

Europe

• Switzerland
• Belgium
• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Rest of Europe

Asia-Pacific

• India
• Australia
• Philippines
• Singapore
• South Korea
• Japan
• China
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Argentina
• Peru
• Colombia
• Brazil
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Research Scope of the Market-

• Historic year: 2019- 2022
• Base year: 2023
• Forecast: 2024 to 2032
• Representation of Market revenue in USD Million

Access The Full Report Here: https://www.intellectualmarketinsights.com/report/battery-energy-storage-system-market-size-and-trends/imi-001605
About US:
IMIR® Market Research Pvt Ltd.
Intellectual Market Insights Research (IMIR) is a global market intelligence and consulting organization that provides both syndicated and customized research reports, and consulting services. We are recognized for delivering actionable insights and credible reports across a wide range of sectors, including Semiconductor, Aerospace, Automation, Agriculture, Food & Beverages, Automotive, Chemicals and Materials, and nearly every other field, encompassing an extensive array of subdomains. Our mission is to generate value for our clients through our dependable and precise reports.
IMIR provides top-notch quality research and detailed analysis to our clients. Our market research studies, which focus on products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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Intellectual Market Insights Research (IMIR) is a global market intelligence and consulting organization that provides both syndicated and customized research reports, and consulting services. We are recognized for delivering actionable insights and credible reports across a wide range of sectors, including Semiconductor, Aerospace, Automation, Agriculture, Food & Beverages, Automotive, Chemicals and Materials, and nearly every other field, encompassing an extensive array of subdomains. Our mission is to generate value for our clients through our dependable and precise reports.
IMIR provides top-notch quality research and detailed analysis to our clients. Our market research studies, which focus on products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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Delray Beach, FL, Oct. 29, 2024 (GLOBE NEWSWIRE) — The global mRNA synthesis and manufacturing market is projected to grow from USD 2,231.4 million in 2024 to USD 2,958.3 million by 2029, at a CAGR of 5.8%. Key drivers include the growing focus on mRNA-based vaccines, expanding therapeutic applications, advancements in synthesis technology, and industry collaborations. Challenges such as high production costs, stability, and scalability remain hurdles. The rising demand for personalized medicine, particularly in cancer and rare genetic disorder therapies, is accelerating market growth, with major players like BioNTech and Moderna leading innovations. Artificial intelligence is also transforming the sector, optimizing drug development and manufacturing processes. Key opportunities lie in advancements in drug delivery technologies, while North America remains the largest regional market due to significant investments and mRNA’s proven efficacy in COVID-19 vaccines.

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The market is expanding rapidly due to factors such as the development of mRNA-based vaccines and expanded applications such as cancer immunotherapies. Furthermore, improvements in mRNA synthesis technology, a rise in mRNA synthesis and modification outsourcing, and industry players working together to create mRNA therapies all contribute to the growth of the mRNA synthesis and manufacturing market. Additionally, factors such as advancements in drug delivery technologies, growth in the regenerative medicines market, and increasing government funding and private investments in the mRNA therapeutics market will further provide revenue growth opportunities for the players operating in mRNA synthesis & manufacturing.

Based on product type, the mRNA synthesis and manufacturing products market is divided into two broad categories, consumables and instruments. The consumables segment of the market held the largest market share in 2023, due to the sustained use of consumables such as nucleotides, RNA polymerase, reverse transcriptase, buffer, and reagents that also require frequent repurchases. The consumables segment will be experiencing high growth due to several factors, including an increase in the mRNA therapeutics pipeline and growing investments made to develop mRNA-based therapeutics, advancement in mRNA synthesis technologies, increase in demand for consumables among contract service providers with the growing trend of outsourcing.

Based on service type, the global mRNA synthesis and manufacturing services market has been categorized into four service types: mRNA synthesis, modification, and related activities; purification of mRNA; analytical and characterization services; and scale-up and manufacture activities. In 2023, the mRNA synthesis and modification services captured the highest market share because of the demand for custom and modified mRNA sequences, which are intended to enhance therapeutic candidates for the molecules market. Given the expanding uses of the mRNA technology, researchers and developers are looking for mRNA sequences that can incorporate protein expression enhancement or immune response improvement.

Based on application, the market for mRNA synthesis and manufacturing has been divided into segments including vaccines and cell & gene therapy. The vaccine segment has the dominant share in the market in 2023. The large share of this segment can be supported by the large number of clinical trials of mRNA vaccines for various diseases infectious diseases, cancer and rare genetic disorders. The remarkable success of mRNA-based COVID-19 vaccines has not only proven the efficacy & scalability of mRNA technology but also catalysed interest in targeting other therapy areas, such as cancer and rare diseases.

Based on end user, the mRNA synthesis and manufacturing market has been categorized into pharmaceutical and biotechnology companies, academic and research institutes, and CROs and CDMOs. In 2023, pharmaceutical and biotechnology companies dominated the market for mRNA synthesis and manufacturing. According to the market’s emerging needs, companies are investing to develop next-generation biologics such as mRNA therapeutics. Higher research and development activities of companies to develop mRNA therapeutics and cell and gene therapies have resulted in rising needs for specialized consumables and instruments as well as synthesis, modification, purification, analysis, and characterization services.

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The global mRNA synthesis and manufacturing market is consolidated with the top five players— Thermo Fisher Scientific Inc. (US), Aldevron, LLC. (Danaher Corporation) (US), TriLink BioTechnologies (US), GenScript (US), and Merck KGaA (Germany). Other prominent market players include, New England Biolabs (US), Promega Corporation (US), Sartorius AG (Germany), WuXi Biologics (China), Takara Bio Inc. (Japan), GENEWIZ (Azenta US, Inc.) (US), Lonza (Switzerland), Telesis Bio Inc. (US), Aurigene Pharmaceutical Services Ltd. (Dr. Reddy’s Laboratories Ltd.) (India), ST Pharm (South Korea), AGC Biologics (US).

Thermo Fisher Scientific Inc. (US):
Thermo Fisher Scientific Inc., headquartered in Waltham, Massachusetts, is a leading player in mRNA synthesis and manufacturing, offering a broad range of products and services tailored to this field. The company provides advanced solutions for mRNA synthesis, including custom RNA synthesis services and reagents through its GeneArt platform, which supports the development of mRNA constructs for research, therapeutic, and vaccine applications. Thermo Fisher’s technologies enable efficient in vitro transcription (IVT) and include automated solutions that enhance scalability and production efficiency. Their extensive expertise, quality assurance measures, and global reach position them as a key player in advancing mRNA technology and supporting the development of next-generation therapeutics and vaccines.

Aldevron, LLC. (Danaher Corporation) (US):
Aldevron, established in 1998 and based in Fargo, North Dakota, is a key player in the nucleic acid synthesis industry, particularly known for its expertise in mRNA synthesis and manufacturing. The company is highly regarded for producing high-quality mRNA and plasmid DNA, essential for cutting-edge applications in vaccine development, gene therapy, and other biotechnological innovations. Aldevron’s offerings include custom RNA synthesis and cGMP-compliant mRNA production, ensuring that their products meet the stringent standards required for clinical use. Aldevron’s robust quality control and assurance processes further guarantee the reliability and efficacy of their products. As a global leader in the field, Aldevron has expanded its facilities and technological infrastructure to meet growing demand, establishing a significant presence in the biopharmaceutical sector. Their collaborations with biotechnology firms, pharmaceutical companies, and research institutions underscore their pivotal role in advancing mRNA technology and supporting the development of next-generation therapies and vaccines.

TriLink BioTechnologies (US):
TriLink BioTechnologies, a subsidiary of Maravai LifeSciences based in San Diego, California, is a key player in mRNA synthesis and manufacturing. The company excels in providing high-quality nucleic acid products and services, with a strong focus on mRNA technology. TriLink offers comprehensive mRNA synthesis services, including the production of custom mRNA and chemically modified mRNA, which enhances stability and translation efficiency—crucial for effective therapeutic and vaccine development. Utilizing advanced in vitro transcription technologies, TriLink ensures high yield and purity in their mRNA products.

For more information, Inquire Now!

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Oligonucleotide Synthesis Market

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Nucleic Acid Isolation and Purification Market

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As Halloween approaches, LPL Financial warns of six major risks that could spook markets and drive volatility higher in the coming months.

In a note shared with clients on Monday, LPL’s analysts—including chief equity strategist Jeffrey Buchbinder, chief economist Jeffrey Roach, chief global strategist Quincy Krosby, and others—cautioned that lurking economic threats may disrupt the current calm in the U.S. stock market.

Here’s a look at what LPL Financial analysts see as the biggest potential scares for the U.S. economy.

1. Upper-Income Consumers Feeling Financial Strain

Wealthier households have been propping up consumer spending, helping support the U.S. economy amid inflation and higher interest rates.

However, new data from the New York Federal Reserve shows that upper-income households (those earning over $100,000) are beginning to feel the pinch, with the percentage of these households expecting to miss minimum debt payments now at its highest level since 2014.

“What scares us this Halloween season is the potential stress on the wealthier cohort as more upper-income households reported they will most likely be unable to make their minimum debt payment,” LPL Financial writes.

2. Federal Debt Is Ballooning and Becoming Costlier

The federal debt has surged past $35 trillion, up sharply from $31.5 trillion just a few months ago.

The Congressional Budget Office (CBO) projects that large annual deficits of 5-7% of GDP will persist, pushing the debt-to-GDP ratio to 166% by 2054.

“The larger and more enduring risk to fixed income markets remains the amount of Treasury debt needed to fill massive federal budget deficits,” warns LPL Financial.

Rising debt costs could also crowd out other government spending, potentially constraining economic growth over the long term.

Read Also: Deficit Strain In Washington Will Get Worse, IMF Warns: National Debt Projections Revised Higher, Stabilization Unlikely By 2029

3. High Stock Valuations Pose a Risk

U.S. stock valuations are elevated, with the S&P 500, as tracked by the SPDR S&P 500 ETF Trust SPY, trading at a price-to-earnings (P/E) ratio of 21.8, well above the 20-year average of 16.

High valuations indicate that stocks are priced for perfection, which could lead to sharper market corrections if corporate earnings disappoint.

Goldman Sachs recently projected a modest 3% annual return for U.S. equities over the next decade, underscoring the challenges of starting from such a high base.

“Clearly valuations are high, though they are not great timing tools for tactical trading,” analysts explain.

Elevated valuations mean any economic setback could trigger a larger-than-normal pullback.

4. Rising Interest Rates Could Pressure Stocks And Bonds

Interest rates have climbed sharply, with the 10-year Treasury yield recently trading in a range between 3.75% and 4.25%. LPL analysts warn that a breakout above 4.3% could lead to turbulence in both stock and bond markets.

Higher rates could dampen consumer spending and hurt businesses with significant debt loads. According to LPL Financial, if Treasury yields break above 4.3%, it could reduce investor risk appetite and create headwinds for equities.

“While the velocity of rising rates often dictates the damage to stocks, we believe a breakout above this resistance level could be a tipping point for risk appetite,” the experts said.

5. Political Uncertainty Ahead of 2024 Election

With the U.S. presidential election approaching, political uncertainty is rising. Potential policy changes, such as the expiration of the Trump-era tax cuts in 2026, could impact corporate profits and consumer spending. In addition, growing political divisiveness could weigh on market sentiment.

Historically, markets rally after elections, but the potential for a contentious outcome could drive short-term volatility.

“Also consider the possibility of another disputed outcome, a very long way for results, and/or intensifying political divisiveness as risks to investor sentiment,” LPL Financial warns.

6. Rising Geopolitical Tensions

Global risks are mounting, from conflicts in the Middle East to tensions with China over Taiwan, a critical hub for semiconductor production.

Any disruption in Taiwan could disrupt global tech supply chains, adding pressure to the U.S. and global economies.

Taiwan Semiconductor Manufacturing Co. TSM is working to diversify its production by building a new plant in Arizona, but full operation isn’t expected until 2025.

“Tariffs may be broadened or increased on China regardless of the outcome of the November election. The trend toward ‘de-globalization’ is disruptive and inflationary. There’s plenty to worry about.”

Read Also: ‘Tariffs Are Inflationary’: IMF Deputy Chief Rejects Trump’s Trade Policies As Elections Loom

Keeping an Eye On the Shadows

Despite these risks, LPL Financial advises investors to stay calm and remain fully invested.

“We’re still in a bull market with a growing economy, rising corporate profits, and a favorable technical analysis picture,” the experts highlight.

While valuations are high and debt levels concerning, these factors alone aren’t reasons to exit the market.

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