Ice Detection System Market is Expected to be Worth US$ 2,348.2 Million at a CAGR of 2.8% by the 2034 End | Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
6 min read
Future Market Insights Global and Consulting Pvt. Ltd.
The United States expected to expand at a CAGR of 2.4% through 2034. Ongoing modernization efforts in transportation infrastructure, including highways and railways, create opportunities for the implementation of ice detection systems to manage safety and operational challenges during winter weather.
NEWARK, Del, Dec. 17, 2023 (GLOBE NEWSWIRE) -- The global ice detection system market is anticipated to reach a valuation of US$ 1,730.4 million in 2024, driven by customization and modular solutions. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 2.8% between 2024 and 2034, and reaching a total valuation of approximately US$ 2,348.2 million by 2034.
One of the major factors contributing to the growth of the market is expansion of the increased adoption of lidar technology, which is gaining popularity for its ability to provide accurate and real time data on atmospheric conditions. LiDAR based ice detection systems can offer improved precision in identifying ice formation.
Support from government initiatives and funding for research and development in ice detection technologies can significantly impact the market. Public private partnerships and government investments are anticipated to augment the innovation and market growth.
Increasing awareness about the risks associated with ice accumulation and the benefits of ice detection systems through education programs is expected to accelerate the adoption across different industries. The development of smart cities, with a focus on incorporating advanced technologies for urban management, can lead to the integration of ice detection systems as part of smart infrastructure solutions.
The melting of arctic ice has led to the opening of new shipping routes. The increased maritime traffic in these regions creates a demand for advanced ice detection systems to ensure safe navigation through icy waters. The growing adoption of hybrid and electric vehicles, especially in regions with cold climates, is anticipated to propel the need for ice detection systems to optimize the performance of these vehicles and ensure safety.
Integration with advanced communication technologies, such as 5G, can enable real time data transmission and enhance the responsiveness of ice detection systems, particularly in applications where quick decision making is crucial. Ice detection systems can find applications in agriculture and horticulture to protect crops from frost damage. Monitoring and detecting ice formation help farmers take preventive measures to safeguard their crops.
Key Takeaways from the Market Study
Global ice detection system market was valued at US$ 1,681.3 million by 2023 end.
From 2019 to 2023, the market demand expanded at a CAGR of 3.1%.
The market in India is expected to expand at a CAGR of 3.5% through 2034.
By product type, the magneto restrictive segment to account for a share of 28.0% in 2024.
From 2024 to 2034, ice detection system market is expected to flourish at a CAGR of 2.8%.
By 2034, the market value of ice detection system is expected to reach US$ 2,348.2 million.
“Collaborations with weather forecasting services and the integration of real time weather data can enhance the accuracy of ice detection systems, allowing for more proactive measures in anticipation of adverse weather conditions,” -Says Nikhil Kaitwade, Associate Vice President at Future Market Insights, Inc.
LORD Corporation is recognized for its expertise in developing sensing and vibration control technologies. The ice detection systems of the company cater to aviation applications, focusing on reliability and performance.
Raytheon Technologies is a global aerospace and defense company that offers a diverse range of technologies, including advanced solutions for ice detection. The contributions of the company extend to both commercial and military applications.
Scope of Report:
Attribute
Details
Estimated Market Size in 2024
US$ 1,730.4 million
Projected Market Valuation in 2034
US$ 2,348.2 million
Value-based CAGR 2024 to 2034
2.8%
Forecast Period
2024 to 2034
Historical Data Available for
2019 to 2023
Market Analysis
Value in US$ million
Key Regions Covered
North America
Latin America
Western Europe
Eastern Europe
South Asia and Pacific
East Asia
The Middle East & Africa
Key Market Segments Covered
Product Type
End Use
Region
Key Countries Profiled
The United States
Canada
Brazil
Mexico
Germany
France
France
Spain
Italy
Russia
Poland
Czech Republic
Romania
India
Bangladesh
Australia
New Zealand
China
Japan
South Korea
GCC countries
South Africa
Israel
Key Companies Profiled
Collins Aerospace
Sundstrand Corporation
Eologix
Safran
GKN Aerospace
Safe Flight Instrument
Honeywell
LORD Corporation
Raytheon Technologies
Segmentation Analysis of the Ice Detection System Market
Product Type:
Magneto Restrictive Ice Detector
Optical Ice Detector
End Use:
Airplanes
UAVs
Marine Vessels
Wind Vessels
Wind Turbines
Power Lines
Region:
North America
Latin America
Western Europe
Eastern Europe
South Asia & Pacific
East Asia
The Middle East & Africa
Authored By:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
Explore Future Market Insights, Inc. Extensive Coverage in Industrial Automation Domain:
Conveyor System Market Review: The anticipated size of the global market in 2022 was US$ 5.6 billion and is estimated to reach US$ 6.4 billion in 2023.the market will expand at a CAGR of 5.45% between 2023 and 2033, totaling around US$ 10.9 billion by 2033.
System on Module Market Overview: The market is predicted to register a valuation of US$ 1.15 billion in 2023, and is estimated to rise to US$ 4.65 billion by 2033. The market is anticipated to record a CAGR of 15% during the forecast period.
Rubber Conveyor Belt Market Growth: The rubber conveyor belt market size is estimated to be valued at US$ 3,526.6 million in 2024. The market is estimated to cross a valuation of US$ 4,693.60 million by 2034.
Bead Winding Machine Market Analysis: The global bead winding machine market is expected to register a valuation of US$ 972.4 million in 2024 with a CAGR of 2.50% during the forecast period. The global market is likely to reach a valuation of US$ 1,281.70 million by 2034.
Flow Indicator Market Outlook: This market size for 2024 is predicted to be US$ 742.9 million. In 2023, the market’s size was US$ 714.2 million. The market is expected to grow at a CAGR of 4.3% over the forecast period. By 2034.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
