Persistence Market Research

Lithium-ion batteries (LIBs) are essential for powering devices ranging from smartphones to electric vehicles due to their high energy density and low self-discharge rate. The   Lithium-ion battery market   is expected to grow significantly from 2020 to 2030, driven by increased applications in electric vehicles, consumer appliances, and energy storage systems. Currently, lithium nickel manganese cobalt oxide and lithium iron phosphate chemistries dominate the market, with the former valued for high energy and versatility, and the latter for safety and longevity. Despite advancements, industry leaders continue to focus on cost optimization and technology development to enhance competitiveness and meet the growing demand for sustainable transportation and energy solutions. Market Growth Factors & Dynamics: The Lithium-Ion Battery (LIB) market has experienced significant growth over the past decade and is expected to continue its trajectory due to various market dynamics and influenc

The heat shrink tube market is forecasted to grow at a CAGR of 5.7%, reaching approximately US$ 441.5 Mn by 2032 from US$ 237.1 Mn in 2021, driven by increasing demand from household electrical appliances and industrial applications. Despite pandemic-related disruptions affecting construction and supply chains, the market is poised for recovery, with infrastructure development initiatives by governments expected to fuel growth in the global heat-shrink tubing market , particularly in sectors like public buildings and telecommunications systems. Market Drivers: The heat shrink tube market is experiencing significant growth driven by several key factors. Firstly, the surge in household electrical appliances necessitates increased electric circuit connections, thereby escalating the demand for heat shrink tubes in both local and industrial markets. Additionally, the emphasis on safety measures for electrical equipment is propelling the adoption of heat shrink tubing as a crucial insul

    The global phycocyanin market is valued at about US$ 168.8 million and is expected to grow at a 7% CAGR, reaching around US$ 333 million by 2032. With a 7.1% CAGR from 2017 to 2021,  phycocyanin's market  demand is driven by its health benefits and natural origin, meeting consumer preferences for clean-label ingredients. Major players like Cyanotech Corporation, DIC Corporation, and Chr. Hansen Holding A/S are expanding production capacities and introducing value-added products to capitalize on the increasing adoption of phycocyanin in food, beverage, and nutraceutical sectors, contributing to its projected growth in the coming years. Market Growth Factors & Dynamics: Phycocyanin is a natural blue pigment derived from blue-green algae, primarily Spirulina and Spirulina-like cyanobacteria. Over the years, the demand for phycocyanin has witnessed significant growth due to its diverse applications in various industries such as food and beverage, pharmaceuticals, cosmetics, and

  The global asset performance management market was valued at USD 2.5 billion in 2021 and is projected to reach USD 2.7 billion in 2022. Anticipated growth suggests the market could surge to USD 7 billion by 2032, indicating a robust CAGR of 9.8% between 2022 and 2032. The shift towards modernizing  asset performance management market  through Industry 4.0 technologies presents significant market opportunities. Additionally, the rising adoption of digital twin solutions for enhancing asset performance management is expected to propel industry growth in the forthcoming years. The increasing emphasis on efficient asset management and optimizing total cost of ownership (TCO) will be pivotal in shaping the global asset performance management market during the forecast period. Moreover, heightened demand for asset performance management software among both SMEs and large enterprises across diverse sectors is anticipated to further bolster market expansion in the coming years. Market Growth