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Global industrial component markets projected to grow through 2031
Market Research Center has released several comprehensive reports detailing the global market outlook for various industrial and specialized component sectors through 2031.
Key findings include:
• Transformer No-Load Tap Changers (NLTC): The market is projected to grow from US$275 million in 2024 to US$370 million by 2031, driven by power grid updates and increasing electricity demand.
• Sintered Stainless Steel Parts: Valued at US$9.028 billion in 2024, this market is expected to reach US$11.24 billion by 2031, supported by demand in the automotive, aerospace, and medical industries.
• Optoelectronic Device Test Equipment: The market is forecasted to rise from US$2.32 billion in 2026 to US$4.316 billion by 2032, fueled by AI data centers and advancements in silicon photonics.
• Commercial Portable and Floor-Standing Air Purifiers: Expected to expand from US$1.086 billion in 2024 to US$1.435 billion by 2031 due to rising hygiene awareness in offices and hospitals.
• Agricultural Tractor Parts: The market is anticipated to grow from US$7.215 billion in 2024 to US$10.17 billion by 2031, as agricultural mechanization continues globally.
Entities
General Electric · Global Reports · Market Research Center · Mitsubishi · Siemens
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] The commercial air purifier market is expected to grow at a CAGR of 4.1% through 2031.
- [● 2 SOURCES] The global commercial portable and floor-standing air purifier market was valued at 1.086 billion USD in 2024.
- [● 2 SOURCES] Market Research Center released reports on the global markets for commercial portable/floor-standing air purifiers and smart garment management systems.
- [● 2 SOURCES] The commercial air purifier market is projected to reach 1.435 billion USD by 2031.