Construction and Manufacturing Domain: Allied Market Research’s Top 5 Emerging Markets in Q2 2024
The construction and manufacturing domain has made a stunning comeback in the post-pandemic era. Experts have attributed this rise to the rapid urbanization and industrialization occurring in both developed and developing regions worldwide. Furthermore, the increase in the disposable incomes of people globally has surged the demand for different consumer goods, augmenting the growth rate of the manufacturing sector. Additionally, the emergence of new technologies in the era of Industry 4.0 has led to the establishment of new markets, thus broadening the scope of the sector.
Allied Market Research recently conducted a study on the top 5 emerging markets in the construction and manufacturing domain, examining their performance in the second quarter of 2024. For this, AMR has deployed its in-house ‘Title Matrix Tool’ which takes into account different parameters like CAGR values and revenue numbers while ranking these landscapes. Also, each of these markets is covered comprehensively in their respective reports and special focus is given to the growth drivers, latest developments, investment opportunities, and upcoming trends in these industries.
Plastic Extrusion Machines Market
The Allied Market Research report on the plastic extrusion machines market states that the industry accounted for $6,315.1 million in 2019 and is set to gather a revenue of $11,002.1 million by 2032, thus growing at a CAGR of 4.8% from 2023 to 2032 period. The report emphasizes that incorporating emerging technologies like Artificial Intelligence and machine learning to enhance product quality is expected to create new growth opportunities in the industry. Furthermore, the adoption of smart manufacturing techniques and automation is anticipated to play a major role in the industry.
The AMR report divides the industry into various segments on the lines of machine type, process type, solution, and application. Based on application, the building and construction segment held the highest revenue share in 2019 and is predicted to maintain dominance till 2032. The growing use of extrusion machines in construction and building activities to shape different plastic products is anticipated to influence the segment positively in the coming period.
Industrial Heating Equipment Market
Industrial heating equipment is one of the most widely used machines in refining, chemical processing, food processing, manufacturing, energy generation, and pharmaceutical industries. The AMR report on the industrial heating equipment market highlights that the landscape, which was valued at $41.5 billion in 2022, is projected to gather a revenue of $72.4 billion by 2032, thus surging ahead at a CAGR of 5.67% from 2023 to 2032. The development of efficient heating solutions to reduce negative environmental impact and the widespread applicability of these machines in various end-use industries is anticipated to enable the market to increase its footprint globally.
In the case of the industrial heating equipment landscape, the AMR report studies the industry on the lines of product type, fuel type, and end-use industry. Based on the fuel type, the report states that though electric heating machines are gradually becoming a popular option, the market is still dominated by the fossil-fuel segment. The increased power plant installations in several developing countries around the world including South Africa, India, and China has contributed to the rise of the segment in the second quarter of 2024 and is expected to continue to impact the landscape in the near future.
Smart Waste Management Market
Waste management has become an important component of modern urban planning; governments and private companies have joined hands in many countries to effectively tackle the problem of waste management. Smart waste management includes the use of sensors and other tracking technologies to monitor and manage the waste that is being collected at local waste disposal centers. The AMR report on the smart waste management market highlights that the landscape is expected to grow at a stunning CAGR of 15.6% in the 2024-2032 period. The industry was valued at $2.2 billion in 2023 and is set to gather a revenue of $8.3 billion by 2032.
The report also studies the performance of the industry in different regions of the globe including North America, LAMEA, Europe, and Asia-Pacific. In this regional analysis, countries like the US, the UK, France, Germany, Canada, China, Japan, India, Australia, etc., are covered and the socioeconomic, cultural, and demographic factors in these provinces are studied. As far as the smart waste management landscape is concerned, the North America region holds a dominant market share and is estimated to open new avenues of growth in the next few years. The advent of innovative technologies like AI and IoT and their increasing adoption for waste collection and management has improved the revenue share of the industry in this province.
Warehouse Robotics Market
The warehouse robotics market, as per Allied Market Research report, accounted for $7,069.1 million in 2023 and is set to reach a revenue of $31,343.7 million by 2032, thereby growing at a CAGR of 18.2% from 2024 to 2032. In the past few years, several new technologies such as computer vision, AI, and machine learning have been adopted by e-commerce companies to perform their warehouse operations. At the same time, the growing expansion of the e-commerce sector and the increasing number of sales from their websites have also indirectly influenced the landscape in a positive manner.
The recently published report on this market has classified the industry on the lines of type, operation, and end user. Based on the end-user, the automotive segment held the largest revenue share in the past and is expected to maintain its supremacy in the forecast period. The increasing adoption of warehouse robotics by several automotive manufacturing companies to manage their godowns and inventories has helped the landscape flourish in the second quarter of 2024.
Industrial Packaging Market
The field of industrial packaging is an important component of manufacturing processes and involves the use of solutions that ensure the safe delivery of different goods to intended destinations. As per the AMR report, the industrial packaging market is set to surge ahead at a CAGR of 4.3% from 2024 to 2033 and gather a revenue of $99.6 billion by 2033. The increasing volume of international trade, especially in the post-globalization era has contributed significantly to the growth of this landscape. Furthermore, the growing use of environmentally sustainable packaging solutions is anticipated to create numerous growth opportunities within the industry.
The report has also highlighted various aspects of the market on the lines of product type, material, and application. Based on application, the chemical and pharmaceutical segment held the highest revenue share in 2022 and is set to continue its dominance by 2033. The increasing use of resilient packaging materials to ensure safe transportation of hazardous chemicals and sensitive pharmaceuticals has enabled the landscape to amplify its growth rate in the second quarter of 2024.
Exploring the Investment Opportunities and Growth Factors in the Domain
The construction and manufacturing domain has been quick to adapt to the changing dynamics of the global economy and increase its foothold around the world. Research analysts from AMR have minutely studied the evolution of this sector and recorded the factors that have significantly transformed the domain in the past few years. The study also points out the role played by leading companies in these emerging markets in enhancing the revenue share of the industries. For instance, in the case of the industrial heating equipment landscape, the increasing adoption of advanced technologies by multinational giants has helped the industry flourish in a short time. Similarly, the use of emerging technologies like AI and IoT to develop advanced smart waste management solutions has widened the scope of this industry.
Final Lines
The basic objective of this study by AMR is to help businesses develop a complete understanding of the domain and formulate their plans accordingly. Furthermore, the segmental and regional analysis offered in these reports enables companies to make the right investment decisions. Also, the latest developments and upcoming trends elaborated in the studies aid companies in chalking out their future strategies to take a lead over their peers.
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