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The Innovative Company Revolutionizing Packaging for Businesses

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The Innovative Company Revolutionizing Packaging for Businesses

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In the shipping world, maximizing space is paramount. Companies are constantly seeking ways to minimize costs thereby maximizing returns. This plays out not only with the cost of the product being shipped but also the storage cost once it arrives at its destination.

Traditional corrugated boxes have been on the market for decades. They’ve gotten sturdier over time, but oddly enough the sizes remain universally constant. Say you have a product that measures 300mm x 210mm x 180mm. A standard medium-sized box is 305mm x 215mm x 165mm. This box is clearly too small for this product, but the next box up is 305mm x 215mm x 225mm. Your product is too large for the first box but leaves quite a bit of room in the second box. As a client, you’re subsequently forced to pay for roughly 45mm more space than you need, and millimeters over multiple boxes and shipments aren’t cheap.

Best Box It (BBI) is an Italian-based packaging machine manufacturer with an obsessive concern for millimeters. The company’s modular systems are tailored to your specific needs, churning out ultra-customized boxes for absolutely any product. With the BBI system, you select the corrugated input and measurements, the motor that fits your needs (BBI 500 = 500 boxes per hour; BBI 1,000 = 1,000 boxes per hour) and you have successfully optimized space and decreased shipping and storage expenses with an in-house solution.

The Global Trade Magazine team witnessed this first-hand at the latest ProMat trade show in Chicago. Our pop-up boxes were thrown away by accident and BBI arrived to the rescue, whipping us up a custom-designed box in under a minute!

Standard, truck, or container box shipping is roughly 40% product and 60% air. With BBI, the amount of air in the truck decreases to just 20% making room for 40% more products. Multiply that over multiple boxes, trucks, and containers and the savings is considerable. But perhaps BBI’s best feature is the modularity of their systems. You need 600 boxes a day? Go for the basic starter configuration with manual erection and filling. Did you have an increase in demand (congratulations!) and now need to send 15000 boxes a day? No problem, upgrade your existing system by adding robotic erection and automatic filling. In short, BBI modularity means that you not only get custom-made boxes but also a custom-made packaging solution. 

Less air, smarter millimeters, and a packaging system adapted to your warehouse logistics. That’s the BBI promise!~

To see Best Box in action, click here

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Rising Demand for Industrial, Residential, and Commercial Applications is Driving the Demand for Fire Pumps

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The Global Fire Pump Market is projected to reach US$ 767.7 Million in 2032. Rising demand for industrial, residential, and commercial applications with growing awareness towards safety concerns from hazards, is driving the demand for Fire Pumps.

According to FMI, the Global Fire Pump Market is estimated to be valued at US$ 528.7 Million in 2022 and is projected to increase at a CAGR of 3.8% in the forecast period from 2022 to 2032.

A fire pump is a water sprinkler system used as a fire extinguisher that can be operated with electricity, diesel, or steam. The fire pump is connected to a stationary water source (tank, lake, or reservoir) or an underground water supply line. It is also known as firefighting apparatus which can be easily transported to a location where a fire incident takes place and can operate for quick delivery of large water quantity to extinguish the fire. It is specially designed to increase the pressure of water which results in quick quenching of fire. Fire pumps play a key role in many water-based fire protection systems. It is mostly found in residential buildings, commercial complexes, and industrial areas that require spraying high-pressure water on heightened locations in case of a fire outbreak.

Rise in the sudden fire-catching incidents in various industrial and residential areas, fuelling demand for fire pumps globally. With a rise in global manufacturing industries, fire hazard risk also rises simultaneously. This type of risk is highly associated with flammable manufacturing bases like chemical industries, petroleum refineries, and oil & gas industries. Similarly, most of the residential buildings have installed fire pumps at their building premises for safety purposes in case of any fire incident at their respective buildings. However, the speed of rapid global urbanization accelerates the growth of residential buildings which increases the demand for fire pumps simultaneously. Thus, the above-mentioned most prominent demand from the industrial and residential sectors drives the global fire pump market and is anticipated to grow at a consistent pace in the upcoming years.

Historic Market Outlook for Global Fire Pump Market

The analysis of Fire Pump demand from 2017 to 2021 showed a historical growth rate of 2.2% CAGR. The rise in firefighting equipment, growing investment and awareness of fire hazard & safety, and rise in an application in the industrial and commercial sector was the main factor driving the expansion of the Fire Pump market during the historic period.

However, The COVID-19 epidemic had a negative impact on the industrial automation and equipment sector, which also includes the market for fire pumps. A number of fire pump manufacturers have seen a decline in sales and production, owing to interruption in business operations as a result of stringent government norms about social distancing. Moreover, due to restrictions in the supply chain network, the fire pump market was seen to be affected in the historic period.

However, when virus infection gets lowered, when every sector in the world as well as industries runs normally as before from the start of 2022. As a result, FMI’s global Fire Pump demand projection predicts a CAGR of 3.8% by 2032.

What are the Various Factors Driving the Global Fire Pump Market?

The rising application sector and an increase in fire hazards that takes place globally are the two main drivers driving the global market for fire pumps. The expansion is also fueled by rising energy demand, developing economies, and rising applications in industrial locations, airports, terminals, business complexes, and residential buildings. Demand for this equipment increases simultaneously with growing urbanization and industrialization. The most hazardous industry like the oil & gas industry, refineries, and flammable product manufacturing industry demand fire pumps for safety purposes, which fuel the market. Additionally, the market is being driven by a rise in irrigation and sludge-handling activities around the world.

The market is also expanded due to the development and availability of IoT-enabled pump controllers, as a result, consumer demand has increased, which has had an impact on the growth in demand for fire pumps in the end-use sector. Also, the demand for hydraulic firewater pumps is expected to grow significantly over the projected period as a result of the numerous manufacturing sectors that are being established and planned industry expansions. In the world of expanding smart cities, there is always a risk of fire outbreaks due to short circuits and other reasons, owing to which every residential building is equipped with a fire water pump to extinguish the sudden fire. Also, a fire pump is most commonly used for feeding water to boilers in industry, as there is always a need for high-pressure pumps in industries, which increases its demand. Thus, the growth of many end-use sectors has had a direct impact on the need for fire pumps, which drives the global fire pump market.

What are the Opportunities for the Global Fire Pump Market Growth?

The market for Fire Pump is having rewarding opportunities in the forecasted period as a result of stringent government rules and regulations. The government’s increased emphasis on the development of safety and hazard precautions will encourage the expansion of the Fire Pump market. The increasing government investment in fire hazards & safety to lower the economic losses that occurred due to fire outbreaks will pave the road for the market for Fire Pump to expand. Governments are imposing strict fire safety standards in factories and mandating the installation of adequate fire escapes and firefighting equipment in all industrial buildings. To achieve this goal, various nations are allocating funds from their budgets to install fire pumps in the industrial and domestic sectors, respectively.

The introduction of new technology is aimed at enhancing fire pump machines, like pumps having IoT-enabled controllers in them and artificial fire pump systems equipped with several sensors having the ability to assess and respond appropriately without human operation. This technical improvement saves time and allows for quicker resolution of the problem or carrying out any operation. This type of development is also producing lucrative opportunities for the market growth of fire pumps.

What is the Regional Analysis of the Global Fire Pump Market?

Geographically, in terms of Fire Pump sales, amongst all regions which are sub-segmented in the global market, North America and East Asia are the top regions and collectively account for a sizable portion of the global Fire Pump market in 2021.

The North American fire pump market is anticipated to maintain its dominance throughout the projected period in the global market. An increase in fire incidents in both the industrial and residential sectors in the region is primarily responsible for growth. For instance, in 2022 The latest Fire Loss in the US report released by the ‘National Fire Protection Association (NFPA)’ shows the largest number of home fire deaths since 2007, reflecting a 14-year high. Owing to this type of incident, the US government and National Fire Protection Association introduced new guidelines for the necessary installation of a fire pump or a multistage multiport pump in high buildings and every commercial complex in the country, which drives the fire pump market in the region.

The East Asia region also contributes to a prominent value share in the global market for fire pumps. East Asia has taken the lead position in the Asia region in terms of industrialization and urbanization contributing to around two-thirds share of the global GDP and a much higher share of industrial value-added and worldwide exports. The industrialization of East Asian nations, such as Japan, the Republic of Korea, Taiwan, and China has been made possible by the governments’ substantial strategic interventions to increase domestic manufacturing capabilities. Thus, the market for fire pumps in the region is driven by federal regulations governing the industrial ecology, broad acceptance and awareness of safety and hazard precautions, and the region’s rapidly accelerating urbanization.

Market Competition

Key players operating in the Global Fire Pump Market include Xylem Inc., Grundfos Pumps Corporation, Pentair Ltd, CET Fire Pumps Mfg. Inc., Eaton, Waterous, NAFFCO, Armstrong Fluid Technology, Canariis Corporation, and others.

There are a few major providers who hold the lion’s share of the fir pump market, which is only somewhat fragmented. In order to produce new and improved goods, the major players in the fire pump market invest a sizable sum of money in comprehensive research and development.

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United Safety Technology Authorized as Foreign Trade Zone in Historic Sparrows Point near Baltimore, MD

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Federal designation will lower production costs and help build a domestic supply chain for UST’s high-quality, innovative
Personal Protective Equipment. 

Baltimore, MD — United Safety Technologies (UST) plans to bring back to life an abandoned Bethlehem Steel Factory in Sparrows Point, just outside of Baltimore, Maryland to manufacture personal protective equipment (PPE). Today, that effort received yet another vote of confidence from the US Government.

UST has announced that it has been granted approval for its production activity by the Foreign-Trade Zones (FTZ) Board of the US Department of Commerce.  With the designation and grant of authority, UST can begin to manufacture products using important components with tariffs and duties reduced or eliminated, thus reducing its costs and helping ensure high-quality domestically manufactured PPE can be competitively priced.

The long-term vision of UST is to source all raw materials and components domestically. In the interim, this approval grants UST the ability to source twenty-two ingredients of its raw materials duty-free globally. This is crucial as UST and the PPE industry await robust domestic availability of these materials. The designation also allows UST to export its final products without duties. UST is one of only a few American-made PPE manufacturers to receive this designation.

The FTZ approval will apply to UST’s three leading glove products. These are its Seamless Gloves, its Surgical Gloves, and its Examination Gloves. In a time of competitive headwinds and supply chain disruptions from PPE manufacturing in the Far East, this will be a boon for American-made PPE.

In 2021, the Department of Defense (DoD), in conjunction with HHS awarded UST a $96.1M contract to initiate the domestic production of medical-grade nitrile exam gloves.

Making gloves and PPE in the USA is critical and is quickly becoming a national preference and supply chain necessity. UST’s facility will sit within Federal Trade Zone Subzone 74D.

The Foreign-Trade Zone benefits extend beyond UST to Baltimore and the entire Mid-Atlantic region. This designation will help to facilitate and expedite international trade. This will help UST compete to supply its domestic enterprise customers, to conduct international trade, and distribute its American-made PPE in nearly every business and government sector. This will also help bring local jobs to the community – especially among a diverse and disabled workforce.

About United Safety Technology (UST)

UST enables buyers to reduce reliance on foreign suppliers. Committed to socially responsible manufacturing and reducing impact, we’re returning critical PPE capabilities to the U.S. UST plans to open a 735,000-square-foot facility in Sparrows Point, MD. Formerly a Bethlehem Steel plant, the UST facility will serve as both a progressive medical manufacturing complex and a model for community renewal. At full scale, UST plans to manufacture more than 9 billion gloves per year, while creating up to 2000 new jobs. UST plans to commence production in 2023.  Learn more at www.unitedsafetytech.com/

 

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6 Inventory Management Tips for E-Commerce Subscription Boxes

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Subscription boxes offered online can be a viable business model, provided you can give the target market what it wants. Finding the items to stock an e-commerce subscription box with is more complex than it seems, but you can use various e-commerce inventory management strategies to ease the challenges.

1. Surprise People With the Contents of the E-Commerce Subscription Box

Many e-commerce subscription box companies build in flexibility by being upfront about how the contents vary. For example, you might promise they contain products from certain broad categories and tell beauty box subscribers they’ll always receive one item for their skin and another for their hair.

That approach frees you from the e-commerce inventory management challenges of having a minimum quantity of specific products. It also enables supplier diversification.

Plus, subscribers should appreciate being surprised but have accurate expectations about what they’ll receive. People may not always get items they love, but they’re prepared for that outcome.

2. Use Data Within Your E-Commerce Inventory Management Strategies

Data can be powerful for helping you improve the handling of e-commerce inventory management for your subscription boxes. Keeping track of metrics like how many customers you gain or lose per month can make it easier to stay on top of what you’ll need to keep the boxes stocked.

Adventuretown Toy Emporium is a Los Angeles-based toy store with a brick-and-mortar and online presence. It recently announced a customized subscription box tailored to kids aged 0–3. The company sources from 35 countries and puts one or two toys in each box.

People curate the boxes based on data from parents about whether their kids are meeting developmental milestones on time and the experiences the children had with previously received items. Those insights help the people filling the boxes choose relevant goods.

3. Sign Deals With Suppliers or Other Partners

Navigating the e-commerce subscription box landscape usually requires adhering to supplier minimums. That might mean you must buy in bulk from your box supplier. However, before placing an order, it’s better for businesses to see if they can request a sample. If boxes don’t assemble easily, it might not be worth it. Saving 5 seconds per box assembly can make teams more efficient and get products to customers quicker. 

Another possibility is to enter exclusive deals where an in-demand artist creates several box designs you’ll send out in a single month. That’s a great way to increase influencer traction as those personalities make their ever-popular unboxing videos. It also increases anticipation because people will wonder which designs they’ll get.

4. Be Honest About Slowdowns

Anything from bad weather to unexpected product shortages could make it more challenging to send subscription boxes on time. High demand can also increase problems. Even Amazon occasionally experiences them — during the 2021 Prime Days event, customers had to wait two weeks beyond the usual time frames to get an in-demand mini camera.

However, telling customers about any delays as soon as you learn about them is usually the preferable option to staying quiet. Besides informing them about slowdowns, be transparent about what you’re doing to solve them. Relatedly, admit which aspects are out of your control.

If necessary, create a dedicated part of your e-commerce subscription box website that provides the latest information as you get it. That could work better than sending out numerous emails customers may eventually overlook.

5. Provide Limited Choices When Feasible

Some subscription box companies let a restricted number of people choose between two offerings. Perhaps you have a snack subscription service and allow the first 1,000 customers to submit their preferences for either a salty or sweet treat from a particular brand. However, anyone who tries to do that too late will get whatever’s available.

Taking that approach should make it easier to engage with your supplier because you only need a minimum of 1,000 packages of each snack version. Beyond that, you have the flexibility to get whatever option is more reasonably priced, easier to source or has some other desirable characteristic.

However, customers typically like when you give them some options. This suggestion makes it easy to do that without putting too much strain on your supply chain. 

6. Specialize in Recurring Subscription Boxes

Company leaders often find it easier to source an e-commerce subscription box if the contents are somewhat consistent every month. Statistics from 2020 indicated people spent about $74 per month on food and meal kit subscriptions. If your subscription box is that type, you might allow people to choose a certain number of meals for a monthly rate. However, they need to select the ones they want so you can indicate when specific offerings sell out.

This strategy also works well if you have a well-established supply chain network in a particular region. You might sell a coffee subscription box and promise all recipients of February’s box will get an organic blend from a South American roaster. Mentioning that allows you to engage with all your suppliers on that continent to ensure they’ll collectively have enough products to fill the month’s boxes.

It’s also wise to encourage people to sign up for a minimum number of months and give them the option to renew. Knowing the precise number of people signed up to receive six months of a recurring subscription box makes it easier to figure out how to get adequate stock. Clarifying that people cannot cancel and restart their e-commerce subscription box plan at any time also makes inventory more manageable.

Set Up for Subscription Box Success

Managing subscription box inventory comes with specific challenges. However, planning thoroughly and following these suggestions will help you overcome obstacles.

Listen to your customers, too. If they love or dislike certain items, their feedback might be reason enough to prolong or end your relationship with particular suppliers.

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Traxens New IoT Device Leads Smart Container Requirements For Decarbonising Shipping

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Traxens, the world’s first smart-container service provider for the global supply chain industry, unveiled today the new third edition of the Traxens-Box 3, its permanent container tracker and flagship product for shipping lines, freight forwarders and BCOs.

With the shift to green methanol-powered vessels and the increasing safety requirements of the International Maritime Organization, the Traxens-Box 3 IoT device has been completely redesigned to meet the highest level of ATEX certification on the market for explosion safety onboard ships.

Various shipping products are now being subjected to new explosion safety requirements as the shipping industry moves towards clean energy such as methanol-based fuel.

Added to the ATEX redesign, the battery life now reaches 7 years – an increase of 50% compared to the previous model. As a permanent container installation, this feature is critical to maximizing the device’s return on investment during a major part of the life of a container.

While focusing on risk management and cargo safety, Traxens continues to reinforce its main features for greater reliability. Traxens’ door opening detection, whose algorithms are constantly being improved, has already demonstrated its value in numerous cases, such as when consumer electronic goods have been stolen and when authorities have intervened timely after being alerted.

Several thousands of Traxens-Box 3 devices have already been pre-ordered by Traxens’ main customers who will start to deploy them in the following months.

The world’s top shipping lines, which are also Traxens’ shareholders, are already using the two previous versions of the device to convert their assets into smart containers, constantly communicating their location and additional status information.

About Traxens

Traxens has been driving digital transformation in the global supply chain for more than 10 years. The company’s breakthrough loT technology, data science expertise, global logistics experience and standards leadership unlock the value of real-time data generated from cargo assets shipped by sea, rail and truck. Traxens is trusted by hundreds of global cargo owners, enabling them to reduce door-to-door transport costs, optimize their operations and minimize risk. By partnering with the world’s leading shipping lines, authorities and insurance companies, Traxens helps all members of the global logistics supply chain ecosystem to reach a sustainable and optimized supply chain. Traxens is privately held and headquartered in Marseille, France.

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Container xChange Asia Forecaster April 2023

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Asia’s maritime and supply chain industry is on a tumultuous ride, experiencing significant disruptions in trade patterns resulting in container prices dipping, according to the April Asia container market forecaster published by Container xChange, an online container logistics company that provides a marketplace, an operating infrastructure, and a layer of services like payments to container logistics companies globally.

Container oversupply risk looms over China with empty containers at ports

The year-on-year comparison of the Container Availability Index (CAx) in Shanghai presents some interesting insights into the problem of excess containers at the ports in China. Traditionally, the CAx values in Shanghai during Q1 have been lower than the 0.5 balance due to a higher number of outbound containers compared to inbound containers.

However, this year, the trend is just the opposite with CAx value over the 0.6 threshold. The current trend is attributed to the drop in exports during Q1, owing to reduced demand post the peak season quarter (October- December) and the Chinese New Year shutdowns. 

Consequently, the number of containers at ports is usually lower during the Q1 of last two years. However, the situation this year is different. With a demand deficit and a higher number of containers lying idle at the ports, there is a significant rise in inbound containers in China as observed in the Q1 of 2023. This shift in the trend is reflected in the CAx graph below.

Since the beginning of week 37 (September) in 2022, the Container Availability Index (CAx) has consistently remained higher than the previous two years. This indicates an increase in inbound containers at the port of Shanghai since September and a continued upward trend. The trend is also observed in Yantian and Tianjin ports in China.

Our research and interviews with Chinese customers reveal that the post-Lunar New Year recovery in the industry has only recently started and is below the normal expectations for this time of year. According to Descartes, US imports have declined by 16.2% from January, 25% year on year, and 0.3% compared to pre-COVID February 2019.

The Container Availability Index measures the ratio of inbound to outbound containers port-wise and a reading above 0.5 suggest more inbound than outbound containers at the ports. It suggests that ports in China currently have a higher CAx value than in 2019, 2020, 2021, and 2022, indicating a significant container surplus in China. A higher CAx index rating means that there are more inbound containers than outbound containers. Thus, if China’s outbound containers are low, it suggests that main import countries have not been importing goods from China as usual. This trend is apparent in the industry as well.

62% slump in average container prices* Y-O-Y in China in March

According to the analysis by Container xChange, we compare the container prices between March of this year and the same period last year, there has been an average fall of 62% in prices across China. The table below provides a detailed breakdown of the decline in prices at different ports in China. It is noteworthy that this quarter (January to March) has been relatively more stable compared to the overall price fluctuations throughout the year.

Average container price development – North-East Asia
Port Delta to last month Delta to 3m ago Delta to 6m ago Delta to 12m ago
Shanghai 6,00% -14,00% -36,10% -62,30%
Qingdao 3,10% -1,00% -24,70% -58,60%
Ningbo 9,50% 1,70% -26,20% -56,60%
Tianjin -0,50% -7,30% -28,00% -54,70%
Xiamen 6,40% -1,50% -26,40% -54,30%
Shenzhen -9,70% -1,80% -32,50% -60,20%
Guangzhou 11,20% -1,90% -19,00% -56,00%
Dalian -9,60% -25,50% -37,10% -61,10%

*Average prices for containers are the prices at which containers are available to buy at these port locations. 

It is evident that there has been a decline in average container prices in China since the past one year. However, the graph below indicates that the prices have remained relatively stable during the first quarter of 2023. This observation suggests that if there is no further decrease in prices, it is possible that the container prices have already hit the bottom and are not expected to fall any further.

Inta-Asia Trade could give a push to China’s trade figures

On one hand, concerns are being raised due to the shifts in supply-chain and weakened global demand, as companies are diversifying their trade and increasingly sourcing goods from Southeast Asia. On the other, China’s export numbers for March have exceeded expectations, with a significant increase of 14.8% in US dollar terms from the previous year, as reported by China government data.

The unexpected rise in exports can be attributed to improved demand from many Asian countries and Europe, as well as the resumption of production in China’s factories. This is a positive glide considering the container pileup on China ports in the beginning of 2023. 

The uptick in shipments to South-East Asian nations is evidenced by sliding pickup charges on the Intra-Asia trade lane. Average pickup charges dropped by 85% since January 2023.

“The shipping industry is on the verge of completing its lap in terms of container prices bottoming out, excessive inventory, empty containers and everything in between. Once it’s through with its rep, the demand will crop back up. The alluring box rates present for traders offer a ray of hope for the growth of container demand. As the spot rates on significant container trade lanes settle down to levels like those before the pandemic, the trend of decontainerization that prevailed from 2020 to 2022 is now reversing. The container freight rates reached record heights during the peak of the coronavirus pandemic, which resulted in cargo overflowing from containers into minor bulk vessels.”, said Christian Roeloffs, cofounder and CEO, of Container xChange.

However, we cannot compare it to the demand that existed until 2021, as there is still a surplus of inventory that has not been exhausted yet. China has already initiated the process of diversification, although it is still too early to see any visible trade patterns. However, we have noticed a rise in intra-Asia trade. As a result, capacity needs to be adjusted to regions with more stable rate levels and demand to ensure more resilient supply chains in the future. This relocation strategy will decrease reliance on one production and supply chain hub and move towards a smaller and more diverse trading pattern.

The Asia-Europe container shipping lane, which is critical, has experienced a rapid decrease in demand since the summer of 2022, resulting in a sharp decline in container shipping spot freight rates. Carriers have responded by cutting services or cascading capacity to regional trades. However, this has left many empty containers stranded across Europe instead of being returned to Asia and other origin markets for loading with more exports. This accumulation of boxes will gradually decrease when export demand rises again, with the majority being returned to Asia.

China’s port investments give it an edge in global trade

“China’s expertise in developing world-class port infrastructure that can be an asset to strengthen global trade ties and create opportunities for collaboration, despite potential challenges for western countries to compete in this domain. While US and European companies are signalling their intent to shift manufacturing to India and other countries in Southeast Asia, the lack of port infrastructure in these regions remains a major obstacle.”, said Christian Roeloffs, cofounder and CEO, of Container xChange as he commented upon the current state of the container shipping in Asia.   

The lack of harbors able to accommodate large ships in other Asian countries means that investment is essential to handle the mega-container ships that drive world trade. Therefore, it will take a great deal of investment from other Asian emerging markets to catch up with China, and it generally takes port operators up to five years to build a new terminal.

The data from research group Drewry reveals that the rest of Asia needs significant investment to match the capacity of Chinese harbors, which have become essential for transporting goods from east to West. China’s investment of at least $40 billion between 2016 and 2021 in coastal port infrastructure has allowed the country to handle the equivalent of 275 million 20ft containers at its ports last year, up to 80% more than the amount processed annually by all countries in Southeast Asia combined, according to figures from data group Dynamar and the UN. In contrast, the rest of Asia has only 31 port terminals capable of handling the largest ships. Large vessels make up about two-thirds of the shipping capacity for services between East Asia and Europe, according to data provider MDS Transmodal.

For more on container logistics industry developments, download the full report ‘Where are all the containers’ from here 

 

 

 

 

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Synergy NA expands WMS Solution into UAE

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WMS Technology Innovator, Synergy Logistics, is Expanding its Global Operations having Secured its First Customer in the United Arab Emirates (UAE).

Dubai based specialists, Automyze Fulfillment Center, established in 2017, has onboarded technologically advanced, cloud-based SnapFulfil into its newly expanded 25,000 sq. ft warehouse. The initial SaaS contract includes 45 licensed users.

Automyze specializes in start-ups and SME brands positioned for significant growth and currently ships an average 18,000 units a month. However, with their ambitious target to double this over the next six months, they required a WMS with the flexibility and scalability to adapt and grow with them and its customers’ strategic expansions.

The proven flexibility of SnapFulfil’s solution means Automyze will now have accurate and consistent control of inventory and outbound processes, as well as returns, which will help them deliver a first-class service experience for their clients and their customers. The live data functionality will also help maximize performance and cost savings, plus have a tangible impact on strategic growth.

A key attraction of SnapFulfil for Automyze was its Application Programme Interface (API) friendly and robust pathway that meets the challenges of B2C and D2C omni-channel fulfilment. However, identifying the solution is just half of the challenge. Delivering it while continuing to satisfy existing customer requirements – without incurring custom coding costs and delays for new clients – is a different matter.

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Global Used and Refurbished Robots Market is Pegged to Attain Valuation of US$ 5,080.2 Million by 2031

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The used and refurbished robots market has significant potential, driven by cost savings and sustainability concerns. With a growing demand for automation across various industries, refurbished robots offer an affordable alternative to new ones. Additionally, the increasing emphasis on circular economy practices encourages the reuse of products, making the refurbished robot market an attractive option for companies seeking sustainable solutions.

Global used and refurbished robots market is estimated to witness a rise in revenue from US$ 1,909.7 Mn in 2022 to US$ 5,080.2 Mn by 2031, at a CAGR of 11.5% during the forecast period 2023-2031.

The automotive industry is the largest consumer of used and refurbished robots, accounting for a market share of 38.1% in 2022. This is followed by the electrical and electronics industry, which accounted for a share of 21.6%. The food and beverage industry is also expected to witness significant growth in the demand for used and refurbished robots, driven by the need for automation in various manufacturing processes.

In terms of geography, the Asia-Pacific region is expected to dominate the market for used and refurbished robots, accounting for the more than 62% share in terms of both value and volume. This can be attributed to the presence of several developing economies in the region, such as China, India, and South Korea, which are investing heavily in automation solutions to improve their manufacturing processes and remain competitive in the global market.

The growth of the used and refurbished robots market can also be attributed to the increasing adoption of advanced technologies such as machine learning, artificial intelligence, and the Internet of Things (IoT). These technologies are being integrated into refurbished robots to enhance their capabilities and improve their performance. Additionally, the environmental benefits of reusing and recycling industrial equipment are also driving the growth of the market.

Used and Refurbished Robots Market: A Cost-Effective and Sustainable Solution for Assembly Lines, According to Astute Analytica Study

According to a study by Astute Analytica, assembly lines across various industries employ over 37.6% of used and refurbished robots. The examination of these robots reveals that their total cost of ownership (TCO) can be significantly lower compared to new robots; used robots boast up to 30% lower TCO, while refurbished robots can offer up to 50% reduction. The lower initial purchase price for used or refurbished robots contributes to these savings, but the most substantial cost reductions stem from decreased maintenance and operational expenses.

Used and refurbished robots are especially appealing to assembly line end-users across the global used and refurbished robots market due to their exceptional precision, speed, and repeatability—essential factors for achieving production goals in such applications. These robots are often meticulously maintained and outfitted with cutting-edge technology, enabling them to effortlessly execute complex tasks. Since they are typically designed for specific functions and have demonstrated effectiveness in analogous applications, integrating them into existing production lines is a straightforward process.

Moreover, used and refurbished robots present a more sustainable alternative to purchasing new ones in assembly line applications. Astute Analytica’s analysis indicates that a considerable number of these robots are derived from retired or decommissioned equipment that can be repurposed and reused. Consequently, this approach diminishes the demand for new resources and curtails waste, making it an eco-friendly option for manufacturers.

Asia Pacific Emerges as a Major Hub for Used and Refurbished Robots Market, Driven by Import from Western Countries

The Asia-Pacific region has emerged as a major hub for the used and refurbished robots, with the region expected to witness an increase in market share from 62% in 2022 to 66.4% by 2031. This growth can be attributed to the region’s highly cost-sensitive market, where most countries are known to buy used industrial robots at lower costs to save overall expenses and improve profit margins.

Countries such as India, China, Indonesia, and Vietnam are major consumers of used and refurbished robots market in the Asia-Pacific region. India, for instance, has a large manufacturing sector, and the demand for automation in this sector has been growing in recent years. Refurbished robots are often preferred by Indian manufacturers as they offer a cost-effective solution to improve manufacturing processes.

China, on the other hand, is the world’s largest market for industrial robots, with a significant demand for used and refurbished robots in various industries. The country’s industrial sector has been growing rapidly, and the demand for automation solutions is expected to rise further, driving the demand for used and refurbished robots.

Similarly, Indonesia and Vietnam are also witnessing a significant growth in the adoption of used and refurbished robots. These countries are investing heavily in automation solutions to improve their manufacturing processes and remain competitive in the global market.

According to a report by Astute Analytica, most of these countries in the Asia-Pacific region import used and refurbished robots from North American and European countries. This is because these regions have a large inventory of used industrial robots, which are often sold at a lower cost than new robots. Furthermore, the robots imported from these regions are usually of high quality and have been refurbished to meet the required standards.

Market Share Analysis: Top 4 Players Contribute over 39% Revenue to Global Used and Refurbished Robots Market

The global Used and Refurbished Robots market is highly competitive and consists of several players. The market players are adopting various competitive strategies such as mergers and acquisitions to strengthen their market position. The four major players in the market hold a cumulative market share of close to 39.0%, indicating high competition in the market.

ABB is the largest seller of used and refurbished robots, accounting for over 13% market share. Fanuc follows ABB with more than 11% market share. Other key players in the market include Kuka, Autotech, Alliance Robotics, The Robot Company, Kawasaki, Antenen Robotics, MASTER Robotics, CyberWeld, Surplex, Comau, EPSON, Global Robots, and IRSA Robotics, among others.

The global Used and Refurbished Robots market is witnessing intense competition among major players, which is driving market growth. The leading players in the market are adopting various growth strategies to maintain their market position. Some of the strategies adopted by these players include mergers and acquisitions, partnerships, collaborations, and product innovations.

ABB, the largest seller of used and refurbished robots, is focusing on product innovation and strengthening its position in the market. The company is developing new products and technologies to meet the evolving demands of the customers. ABB has also acquired several small-scale manufacturers to expand its market share and strengthen its position in the market. For instance, In 2021, ABB acquired ASTI Mobile Robotics, a Spanish manufacturer of autonomous mobile robots, to expand its position in the mobile robot market.

Some of the Top Market Players Are:

  • Autotech Robotics
  • Eurobots
  • Global Robots
  • CyberWeld
  • IRSA ROBOTICS
  • Surplex
  • IRS Robotics
  • Kuka
  • ABB
  • Fanuc
  • Other Prominent players

 

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Time-Sensitive Networking Market size to reach $1.5 Bn by 2032

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As per the report by Global Market Insights Inc. “Worldwide Time-Sensitive Networking Market was valued at over USD 300 million in 2022 and will surpass a revenue collection of USD 1.5 billion by 2032 with an annual growth rate of 1.5% from 2023 to 2032.”

Time-Sensitive Networking Market is anticipated to showcase sturdy growth through 2032, owing to the rising need to enhance business productivity and alleviate the production cost across enterprises. Besides, TSN has been gaining huge traction in industrial automation owing to the rising penetration of the IIoT (Industrial Internet of Things). Some of the key benefits offered by time sensitive networking includes bandwidth, security, interoperability, latency, and synchronization.

Overall, the time-sensitive network market is segmented in terms of component, solution, service, application, and region.

Considering the components, the TSN service segment is slated to showcase lucrative growth through 2032. The growth can be credited to the product attributes such as ease of network configuration, secure networks, reduced system costs, and future enhancements. Besides, a lack of experience and expertise related to TSN technology among the enterprises will also play a key role in benefiting the industrial growth.

Based on the solution, the switches segment held over 60% market share in 2022. The increasing adoption of TSN technology across sectors such as utility, automotive, and IIoT would prompt the market demand throughout 2023-2032. Moreover, TSN switches are ideal for making manufacturing networks compatible, are equipped with Ethernet and fiber-optic ports, boasts of a compact design and user-friendly configuration interfaces, and support real-time communication.

By service, the professional service segment acquired over USD 35 million market share in 2022. Rising demand for TSN professional services due to the mounting adoption of industrial automation across enterprises and increasing need to reduce and offer robust infrastructure for deploying TSN technology will favor the segmental growth by 2032.

Considering the application, the industrial automation segment held over 30% market share in 2022. The increasing adoption of industrial IoT for various applications would stimulate the product demand through the coming years. According to credible reports, over 75 billion devices are predicted to be connected via the Internet of Things (IOT) by 2025.

Regionally, the North America time-sensitive networking market was valued at over USD 150 million in 2022. The rising adoption of automation tools and Industrial IoT (IIoT) that empowers businesses to automate their processes is a key factor driving regional growth. In addition, constant industrial automation will also act as a key factor supporting the demand for TSN solutions in North America.

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Archives, Global Trade Daily, Market insight

Global Oil Condition Monitoring Market to Worth US$ 1,496.3 Million by 2031

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The oil condition monitoring market is a rapidly growing industry that utilizes various technologies such as infrared spectroscopy, lubricant condition monitoring, and wear debris analysis to assess the health of machinery and equipment. This market is driven by the need for efficient maintenance and reducing downtime costs in various industries, including manufacturing, automotive, and aerospace. The market is expected to continue to grow due to the increasing demand for predictive maintenance solutions.

The global oil condition monitoring market is experiencing significant growth, with its valuation reaching US$ 862.7 million in 2022 and a projected market size of US$ 1,496.3 million by 2031. The market is set to expand at a CAGR of 6.35% during the forecast period from 2023 to 2031.

The rapid growth is attributed to various factors, including increasing demand for machinery reliability, rising concerns over environmental protection, and advancements in technology. Oil condition monitoring is essential in ensuring machinery reliability by monitoring the quality of lubricants used in machines, thus preventing breakdowns and unplanned downtime. In a survey conducted by Plant Engineering, 77% of respondents said that predictive maintenance, including oil analysis, helped reduce their maintenance costs. A report by Astute Analytica found that the adoption of oil condition monitoring technologies helped a company in the oil and gas industry save $300,000 annually in maintenance costs and increased equipment availability by 5%.The current landscape of the global oil condition monitoring market is highly competitive, with several key players operating in the market. Some of the major players in this market include Parker Hannifin Corporation, General Electric, SGS SA, Intertek Group PLC, and Bureau Veritas SA. These companies offer a range of oil condition monitoring products and services such as spectroscopy, particle counting, viscosity measurement, and elemental analysis.
 

One of the major factors driving the growth of the oil condition monitoring market is the increasing demand for predictive maintenance. With the help of oil condition monitoring, companies can predict potential problems and prevent equipment failure, which can result in costly downtime and repairs. Furthermore, oil condition monitoring helps companies to reduce their maintenance costs and increase their equipment lifespan. Additionally, the development of advanced technologies such as cloud-based oil condition monitoring systems and the internet of things (IoT) is expected to create new opportunities for market players in the future.

As per Astute Analytica, the global market offers attractive investment opportunities. Companies that focus on developing advanced technologies such as cloud-based oil condition monitoring systems and the IoT are likely to be well-positioned for future growth.

Key Findings of the Global Oil Condition Monitoring Market

  • By Sampling Type: The offsite lab sampling type is expected to capture over 55% of the market share, primarily due to the accuracy of results obtained from laboratory testing.
  • By Monitoring: The online segment is anticipated to generate more than 54% market revenue, as it allows for real-time monitoring of lubricants and early detection of anomalies in their condition.
  • By Methods: The oil conditioning sensors segment is expected to hold over 56% market share, thanks to their accuracy and reliability in detecting any anomalies in the lubricants’ condition.
  • By Application: The combustion engine segment is projected to hold over 28% market share, due to the widespread use of combustion engines in various industries.
  • By Industry: The oil & gas industry is expected to hold more than 19% revenue share, as a result of significant investments made by the industry in predictive maintenance technologies.

Online Monitoring to Remain the Most Popular and Contribute Over 54% Revenue to Global Oil Condition Monitoring Market

Online monitoring is dominating the global market due to its numerous benefits over traditional methods of oil condition monitoring such as its ability to provide real-time monitoring, enabling early detection of potential equipment failures, thereby reducing downtime and maintenance costs. It also facilitates remote monitoring, eliminating the need for on-site personnel and providing access to data from anywhere in the world.

Another factor contributing to the dominance of online oil condition monitoring is the growing adoption of Industry 4.0 and the Internet of Things (IoT) in various industries. With the increasing use of sensors and connected devices, it has become easier to collect and analyze data in real-time, making online oil condition monitoring a preferred choice. Moreover, companies opt for online oil condition monitoring to ensure the reliability of their equipment, prevent unplanned downtime, and reduce maintenance costs. They also see it as a way to improve operational efficiency, optimize equipment performance, and extend the lifespan of their assets.

According to a survey conducted by Astute Analytica on the oil condition monitoring market, the majority of respondents (57.8%) preferred online oil condition monitoring over traditional methods. The survey also found that the most significant drivers for adopting online oil condition monitoring were cost savings (29.1%), increased equipment reliability (23.5%), and improved maintenance planning (17.2%). The survey also revealed that the primary application areas for online oil condition monitoring were in the manufacturing and energy sectors. In the manufacturing sector, online oil condition monitoring was used to monitor critical equipment such as compressors, turbines, and pumps. In the energy sector, it was used for monitoring generators, transformers, and other electrical equipment.

Current Opportunities and Trends: Emergence of IoT and Big Data Analytics

The advancements in technology have been instrumental in driving the growth of the oil condition monitoring market. The introduction of new sensor technologies, such as optical sensors, vibration sensors, and acoustic sensors, has improved the accuracy and reliability of oil condition monitoring systems. These sensors can detect the smallest changes in the lubricant’s chemical and physical properties, enabling early detection of potential equipment failures.

Moreover, the emergence of IoT and big data analytics has enabled the collection and analysis of large volumes of data from oil condition monitoring systems in real-time. This has allowed for predictive maintenance, which involves identifying potential equipment failures before they occur and taking proactive measures to prevent them. This has led to significant cost savings by reducing equipment downtime and repair costs.

Asia Pacific is Set to Remain Second-Largest Market with over 28% Market Share

North America to dominate the global oil condition monitoring market with over 35% market share. On the other hand, Asia Pacific to remain the fastest growing with second largest revenue share until the end of the forecast period. The Asia Pacific region’s position as the second-largest market for adhesives is supported by several factors. The region’s diverse mix of end-users, including the construction, automotive, and healthcare industries, has a significant impact on the market. The growth of these industries, coupled with the region’s large and growing population, is driving demand for adhesives in the Asia Pacific region. Additionally, the region’s economic growth and focus on innovation and technological advancements have led to the development of new applications for adhesives, further driving demand in various industries.

Looking ahead, the Asia Pacific market is projected to continue to grow as the region’s population continues to expand, and economic development drives demand for adhesives in construction, automotive, and healthcare industries. The region’s emphasis on innovation and technological advancements is also expected to drive further growth by creating new applications for adhesives.

However, the market is not without its challenges, such as the increasing cost of raw materials and the need for sustainability in product development. Despite these challenges, the Asia Pacific market is poised to remain a significant player in the global adhesive market, driving innovation and growth in various industries across the region.

Oil Condition Monitoring Market is Highly Competitive: General Electric Company and Shell LubeAnalyst Contribute Over 15% Revenue

The oil condition monitoring market is highly competitive and dominated by the top 10 players who collectively hold over 40% market share. General Electric Company and Shell LubeAnalyst are two major players that hold a considerable share of over 15%, with GE Company leading the market with over 7.8% market share.

The dominance of these players can be attributed to several factors, including their significant investments in research and development to improve their products and services. These investments have helped them to remain ahead of the competition by introducing new, innovative products that are tailored to meet the ever-changing needs of customers. Furthermore, these players have a strong global presence, allowing them to reach a wider audience and expand their customer base.

In addition, the competitive landscape of the oil condition monitoring market is shaped by several other factors such as the rising demand for predictive maintenance solutions, increasing focus on equipment optimization and the growing adoption of cloud-based solutions. Companies that offer advanced solutions to these problems are more likely to gain market share and maintain a competitive edge.

As a result, smaller players in the market face significant challenges in competing with these larger, established companies. These players often struggle to invest heavily in research and development, leading to a lack of innovation in their products and services. Furthermore, they may have a limited global presence, making it difficult to compete with larger players that have established themselves in multiple regions.

Some of the Top Market Players Are:

  • Al Nukhba
  • Avenisense SA
  • BP p.l.c.
  • Bureau Veritas
  • Bureau Veritas
  • Chevron Corporation
  • Cm Technologies GmbH
  • Delta Services Industries (DSI)
  • Des-Case Corporation
  • Eaton Corporation
  • Element Materials Technology
  • General Electric Company
  • Gill Sensors & Controls Limited
  • Hydac International
  • Insight Services Inc.
  • Intertek Group Plc
  • Lakeside
  • Maxxam Analytics
  • OptaSense
  • Parker Hannifin Corporation
  • Poseidon Systems, LLC
  • SGS Group
  • Shell LubeAnalyst
  • TE Connectivity
  • TestOil (Insight Services, Inc.)
  • Other Prominent Players