Peloton's shares dropped by 5.8% following the announcement of U.S. tariffs on imports from Canada and Mexico, raising concerns of increased production costs and inflation.

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Fall Protection Market Size 2025-2029

The fall protection market size is forecast to increase by USD 4.56 billion at a CAGR of 13% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing awareness of workplace safety and the expanding construction industry. The market is being fueled by the underpenetrated markets in developing countries, where the need for fall protection systems is on the rise. Furthermore, the importance of inspection and maintenance of these systems is gaining traction, as companies recognize the importance of ensuring the longevity and effectiveness of their fall protection solutions. However, challenges persist in the market. One major obstacle is the lack of standardization in the design and implementation of fall protection systems, which can lead to inconsistencies and potential safety risks.
Additionally, the high cost of these systems, particularly in developing countries, can hinder market penetration. Companies seeking to capitalize on market opportunities must address these challenges by investing in research and development to create cost-effective, standardized solutions that meet the unique needs of various industries and regions. By doing so, they can effectively navigate the competitive landscape and position themselves as leaders in the market.

What will be the Size of the Fall Protection Market during the forecast period?

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The market continues to evolve, with dynamic applications across various sectors such as construction, oil and gas, telecommunications, and wind energy. Hard goods and installed systems are integral components, ensuring worker safety in high-risk environments. Innovations in ergonomic design, sensor technologies, and reliable systems have revolutionized safety equipment, reducing injury risks in industrial sectors. Fall-related accidents remain a concern, prompting ongoing advancements in safety regulations and employee well-being. Tripods, anchors, and lanyards are essential components of personal fall arrest systems, ensuring the safety of turbine installers and construction workers. In the construction industry, access systems, body harnesses, and anchorage solutions are crucial for workplace safety.
The integration of smart technologies and ergonomic solutions has led to design innovations, enhancing the functionality and efficiency of safety equipment. Worker safety standards are increasingly stringent, necessitating continuous risk reduction measures. Utilities and manufacturing industries also prioritize fall protection, with a focus on reliable systems and safety audits. The ongoing unfolding of market activities reveals a commitment to injury prevention and the development of advanced safety solutions. The integration of soft goods, such as harnesses and ropes, into personal protective equipment further enhances overall safety. The evolving nature of the market underscores the importance of ongoing innovation and regulatory compliance.
The integration of safety technologies and ergonomic solutions across various industries ensures a safer and more efficient workforce.

How is this Fall Protection Industry segmented?

The fall protection industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product

  Safety harness
  Others


End-user

  Construction
  Energy and utilities
  Oil and gas
  Transportation
  Others


Type

  Soft Goods
  Installed System
  Hard Goods
  Access System
  Rescue Kit


Geography

  North America

    US
    Canada
    Mexico


  Europe

    France
    Germany
    The Netherlands
    UK


  Middle East and Africa

    UAE


  APAC

    Australia
    China
    India
    Japan
    South Korea


  South America

    Brazil


  Rest of World (ROW)

By Product Insights

The safety harness segment is estimated to witness significant growth during the forecast period.

In the realm of workplace safety, fall protection continues to be a critical concern for various industries, including oil and gas, construction projects, telecommunications, wind turbine installations, and manufacturing. The market for fall protection equipment is driven by the need to ensure employee well-being in high-risk environments. Innovations in materials, sensor technologies, and ergonomic design have led to the development of reliable systems, such as body harnesses, lanyards, and anchor points. These systems have become essential components of personal protective equipment (PPE) in industries with occupational hazards, particularly those involving heights. OSHA and other regulatory bodies have set stringent safety standards to reduce injury risks associated with falls.

These regulations mandate the use of safet

The average revenue per capita in the 'Toys & Games' segment of the toys & hobby market in Mexico was forecast to continuously decrease between 2025 and 2029 by in total *** U.S. dollars (-**** percent). After the third consecutive decreasing year, the average revenue per capita is estimated to reach ***** U.S. dollars and therefore a new minimum in 2029. Find further information regarding revenue in Canada and revenue growth in Canada. The Statista Market Insights cover a broad range of additional markets.

Over the past five years, Canadian hand tool manufacturers experienced an annual growth of just 0.5%, reaching a revenue of $759.3 million in 2024. Declining exports, which constitute nearly 80% of the industry's revenue, significantly impacted its financial performance. Competition from countries like China and Taiwan has driven this decline, particularly affecting demand from non-US markets such as Belgium, Mexico and Germany. Moreover, economic challenges, including elevated interest rates and business uncertainty, contributed to reduced domestic demand and foreign sales, resulting in an anticipated 1.1% revenue decline in 2024. The hand tool manufacturing industry is heavily influenced by factors like international competition, foreign demand and economic conditions. The industry's reliance on foreign markets, especially the US, is crucial, as over half of its revenue is derived from exports to this market. Additionally, domestic manufacturers face significant competition from the US and China, with challenges in maintaining competitiveness due to disparities in production scales and labor costs. The industry is further impacted by fluctuations in construction activity and economic indicators, including interest and mortgage rates, which affect both consumer spending and business investments. Looking ahead, the industry is projected to grow at a CAGR of 1.8%, with revenue expected to reach $828.5 million by 2029. Forecasted declines in interest and mortgage rates are anticipated to boost demand, and the industry's partial rebound in 2025. Import penetration is projected to decline slightly due to an anticipated drop in the Canadian effective exchange rate. However, challenges such as potential US tariffs on Canadian goods pose risks. While economic growth is set to drive demand, Canada's recent immigration policy changes may slow overall growth despite lower interest rates, impacting the projected industry performance.

The revenue in the 'Desktop PCs' segment of the devices market in the United States was forecast to continuously decrease between 2023 and 2028 by in total 0.3 billion U.S. dollars. After the eighth consecutive decreasing year, the indicator is estimated to reach 4.44 billion U.S. dollars and therefore a new minimum in 2028. Find further information concerning Canada and Mexico. The Statista Market Insights cover a broad range of additional markets.

The Metal Tank Manufacturing industry in Canada has performed unevenly, as long-term challenges from import competition and downstream disruptions produced unstable conditions. The pandemic cratered industrial activity, temporarily deteriorating spending from petroleum and construction markets. Although much of the industry’s client base quickly recovered, commodity prices soared as inflation spiked in recent years, challenging domestic manufacturers who contend with cost-effective imports from both the United States and China. As a result, industry revenue is forecast to decline at a CAGR of 4.2% to $1.3 billion over the five years to 2024, including a drop of 10.8% in 2024. Canadian metal tank producers have contended with high levels of import competition for decades. US manufacturers, which account for most metal tank imports, have been able to leverage their economies of scale, expertise and resources gained from operating in the US market to outcompete Canadian producers. Imports have risen steadily as a share of domestic demand, climbing to more than 35.0% in 2024 from 25.0% five years prior. Nonetheless, because many metal tanks are fabricated and installed on location, imports have been unable to completely displace domestic manufacturing. Still, the profit pressures engendered by lower-cost imports, especially as China has captured a larger share of the domestic market, have forced some manufacturers to close shop. The industry is cautiously poised for growth as climbing crop, oil, industrial and chemical production will expand spending on metal tanks. In particular, manufacturers will continue to find global export destinations, as a growing global population will increase the need for better oil and crop storage solutions, including metal tanks. Consequently, industry revenue is forecast to increase at a CAGR of 0.7% to $1.2 billion over the next five years. However, the industry will remain challenged by a changing marketplace. While plastic and composite material tanks will pose a competitive threat, import competition will continue to rise. Even more troubling for the industry may be the incoming Trump Administration, which has threatened to impose 25% tariffs on Canadian products. The imposition of duties in manufacturers’ primary export market could pose a monumental challenge to the Canadian industry.

In 2020, American tomato imports rose by +21% y-o-y in value terms to $2.9B, despite the volume of shipments declined by -1% to 1.8M tons. Mexico provides 91% of the U.S. tomato imports, while the rest 9% come from Canada. Practically all the Mexican tomato exports are sent to the U.S. The average price for tomatoes imported to the U.S. increased from $1.34 per kg in 2019 to $1.59 per kg in 2020.

The Hardware Manufacturing industry in Canada has been defined by volatile trade and downstream markets over the past five years. Companies in the Household Furniture Manufacturing and Car and Automobile Manufacturing industries in Canada, as well as construction markets and consumers, purchase hardware products manufactured by this industry. A strong housing market, driven by low interest rates due to the pandemic, supported the industry in 2020 and 2021, but declines in residential construction late in the period hurt demand for industry goods. Still, overall growth in the number of housing starts has staved off sharper declines amid economic uncertainty. Revenue is forecast to fall at a CAGR of 3.0% to $2.1 billion through the end of 2024, with a forecast rise of 2.6% during the current year as spending begins to recover. A major threat to this industry is the strong share of domestic demand that is satisfied by imports. Import penetration from countries with lower wages and production costs, has contributed to the strong competition faced by operators. Many companies transferred production from Canada to low labor cost countries like China and Mexico. Import competition has led to plant closures and consolidation, as some domestic operators have been unable to compete with less expensive imports. Despite the appreciation of the Canadian dollar over the past five years, imports were hindered, supporting industry growth. Companies are estimated to have maintained acceptable operating profit levels by effectively managing costs. The industry is forecast to resume growth over the next five years, with exports aided by a weaker Canadian dollar. Construction markets both domestically and in the US are expected to stabilize as the economy adjusts to lower interest rates. Consequently, revenue is expected to increase at a CAGR of 1.1% to $2.2 billion through the end of 2029.

The North American solar photovoltaic (PV) market is experiencing robust growth, driven by increasing environmental concerns, supportive government policies (including tax credits and subsidies), decreasing solar panel costs, and a rising demand for renewable energy sources. The market's Compound Annual Growth Rate (CAGR) exceeding 20% signifies substantial expansion throughout the forecast period (2025-2033). Residential installations are a significant market segment, fueled by homeowner incentives and decreasing installation costs, alongside a steady rise in commercial and utility-scale projects catering to larger energy demands. Technological advancements, such as the development of higher-efficiency crystalline solar panels and more durable thin-film technologies, are further accelerating market growth. The United States represents the largest share of the market, followed by Canada and Mexico. However, the market faces challenges including land availability for large-scale projects, permitting complexities, and grid infrastructure limitations. Despite these constraints, the long-term outlook remains positive, with a projected substantial increase in market size by 2033, driven by continued technological innovation and increasing policy support. This market growth is segmented across various deployment methods, with rooftop solar installations dominating the residential sector, while ground-mounted systems prevail in commercial and utility applications. The crystalline silicon technology currently holds the largest market share, but thin-film solar technology is witnessing steady improvement and adoption, offering potential for future growth. Key players like SunPower Corporation, Sunrun Inc., and Canadian Solar Inc. are actively shaping the market landscape through innovation, strategic partnerships, and expanded distribution networks. Geographical differences in solar irradiance, policy frameworks, and economic conditions influence growth rates across the United States, Canada, and Mexico, with the US exhibiting the highest adoption rate. The sustained commitment to renewable energy targets and the declining cost of solar energy will continue to drive this significant expansion over the coming years. Recent developments include: December 2022: the construction of the largest landfill solar project of 25.6 MW in North America at Mount Olive, New Jersey, has been completed. The project was developed by CEP Renewables and CS Energy. The project is expected to light up 4,000 households with clean energy., November 2022: EE North America, a European Energy company, partnered with Elio Energy to develop a Solar Power Plant and Energy Storage in Arizona, USA. The construction of the 2 GW project will tentatively start in 2023.. Notable trends are: Utility Segment to Dominate the Market.

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Automotive Seat Belt Pretensioner Market Size 2024-2028

The automotive seat belt pretensioner market size is forecast to increase by USD 5.27 billion at a CAGR of 6.9% between 2023 and 2028.

The market is experiencing significant growth, driven by the increasing demand for safety features in various vehicle segments. The market is witnessing increased adoption in SUVs and is expanding into low-cost, compact vehicles and commercial vehicles. However, the market growth is not without challenges. One major obstacle is the perception that seat belts, including pretensioners, are uncomfortable safety devices. This perception may hinder market penetration, particularly in regions where affordability and comfort are prioritized over safety. Another challenge is the regulatory landscape, with varying safety standards across different countries and regions.
Companies must navigate these complexities to ensure compliance and maintain a competitive edge. To capitalize on market opportunities, automotive manufacturers and suppliers must focus on enhancing the comfort and design of seat belt pretensioners, while also addressing regulatory requirements. By doing so, they can effectively meet consumer demands for safety and comfort, ultimately driving market growth.

What will be the Size of the Automotive Seat Belt Pretensioner Market during the forecast period?

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The market continues to evolve, driven by advancements in vehicle safety technologies and the increasing demand for enhanced occupant protection. Inertial reels and belt tensioners are integral components of these systems, working in unison to optimize safety performance during a collision. Vehicle connectivity plays a crucial role in the seamless integration of pretensioner systems, enabling real-time monitoring and activation. Lightweight materials, such as advanced polymers and composites, are increasingly utilized in the production of pretensioners, ensuring optimal functionality while reducing overall vehicle weight. Pelvic restraint systems, incorporating pretensioners, are gaining popularity as they offer improved injury prevention and occupant kinematics.
Crash safety remains the primary focus, with sensor technology and occupant kinematics playing essential roles in understanding the dynamics of collisions and optimizing the pre-tensioning mechanism's performance. Safety standards, such as Euro NCAP and ECE regulations, set stringent requirements for pretensioner systems, necessitating rigorous compliance testing, including durability, performance, and cost optimization. Innovations in Autonomous Vehicles and electric vehicles are driving the development of electric pretensioners and gas generators, while driver assistance systems and seat belt retractors continue to refine the overall driving experience. The ongoing integration of inflation systems, belt locking, and load limiters further enhances the market's dynamism.
Quality control and occupant protection remain top priorities, with advanced materials and passive safety systems ensuring optimal performance under various conditions. The market's continuous evolution reflects the industry's commitment to enhancing vehicle safety and improving overall road safety.

How is this Automotive Seat Belt Pretensioner Industry segmented?

The automotive seat belt pretensioner industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Application

  PC
  CV


Technology Specificity

  Mechanical
  Pyrotechnic
  Electric


Sales Channel

  OEM
  Aftermarket


Geography

  North America

    US
    Canada
    Mexico


  Europe

    France
    Germany
    The Netherlands
    UK


  Middle East and Africa

    UAE


  APAC

    Australia
    China
    India
    Japan
    South Korea


  South America

    Brazil


  Rest of World (ROW)

By Application Insights

The pc segment is estimated to witness significant growth during the forecast period.

The market is witnessing significant growth due to the increasing adoption of safety features in passenger cars. Seat belt pretensioners, which are a part of restraint systems, work in conjunction with inertial reels and belt tensioners to optimize belt force during a crash. These systems employ pyrotechnic devices and gas generators for rapid belt tightening, providing better pelvic restraint and chest restraint for occupants. The integration of sensor technology and vehicle connectivity enhances the functionality of seat belt pretensioners. Advanced materials and passive safety systems, such as load limiters and force limiters, ensure optimal performance during crash testing, including Euro NCAP and ECE regulations.

Lightweight materials and cost optimization are essential con

The North American postal services market, encompassing the United States, Canada, and Mexico, exhibits robust growth potential, driven by the sustained expansion of e-commerce and the increasing reliance on package delivery services. The market's Compound Annual Growth Rate (CAGR) exceeding 1.00% reflects a steady upward trajectory, propelled by factors such as the rising volume of online transactions and the consequent demand for efficient and reliable last-mile delivery solutions. Key segments within this market, including express postal services, parcel delivery, and international shipping, are experiencing significant growth, particularly in urban areas with high population density. While traditional letter mail volume may be declining, the surge in e-commerce packages more than compensates, creating a dynamic market landscape. Competition among established players like USPS, Canada Post, UPS, FedEx, and DHL, alongside regional players such as Estafeta and Paquetexpress, is intense, fostering innovation in logistics and delivery technologies. Furthermore, several market trends influence the North American postal services sector. The adoption of advanced technologies, including automation, data analytics, and sophisticated tracking systems, is improving operational efficiency and customer experience. The growing demand for environmentally friendly delivery options and increased focus on supply chain resilience are also reshaping industry practices. However, challenges remain, such as rising fuel costs, labor shortages, and the need to adapt to evolving consumer expectations regarding delivery speed and cost. The market's future growth hinges on the ability of postal services to effectively address these challenges while leveraging emerging technological advancements to enhance their offerings and maintain a competitive edge in a rapidly evolving landscape. Regulatory changes and economic conditions will also play a significant role in shaping the market's future trajectory. Assuming a current market size of approximately $100 billion (a reasonable estimate given the scale of the involved economies and the overall logistics industry), and a CAGR of 1.5% (slightly above the given minimum), a continued, steady growth can be projected. Recent developments include: February 2022: In a bid to capture more packages for next-day delivery, the United States Postal Service has created a new, cheaper parcel service called 'USPS Connect Local.' The service will enable shippers to get next-day, first-class service on document packages of up to 13 ounces for USD 2.95, according to an order from the Postal Regulatory Commission. The USPS also will offer expedited service on shipments under new 'USPS Connect Regional' and 'USPS Connect National' programs. The agency also created a fourth program to help speed product return parcels. The program is called 'USPS Connect Returns' and promises free return package pickups by letter carriers or drop-offs at post offices., May 2022: Canada Post unveiled its new leading-edge zero-carbon parcel sorting facility that will have the capacity to process more than one million packages a day. The Albert Jackson Processing Centre will be a key hub for the company's national network and improve service for Canadians when it officially opens in early 2023. The USD 470 million state-of-the-art facility, located at 1395 Tapscott Road in Scarborough, will help Canada Post meet the rapidly changing needs of Canadians and businesses across the country. The additional capacity will allow the company to handle the continued growth in online shopping for years to come. The Corporation plans to increase parcel capacity by more than 50% across its network over the next seven years to manage the demand beyond 2030.. Notable trends are: eCommerce Opens Opportunities for Postal Services.

Chinese buyers comprise one of the largest groups of foreign buyers of residential property in the United States. In 2017, a record number of residential properties were bought by Chinese nationals, but since then, both the sales volume and percentage of all foreign-bought properties has declined. In 2024, Chinese buyers were responsible for ** percent of all sales to foreigners. Who is the biggest buyer of U.S. residential property? During the coronavirus pandemic, buyers from Canadian and Mexican origin dominated international transactions. In 2024 Chinese nationals were the second-largest buyers of U.S. residential property. They were also responsible for the largest share of the aggregate value of properties purchased. On average, Chinese bought properties were also substantially more expensive than the ones purchased by other buyer groups, such as Canadians. How has the market developed? The total property sales to foreign buyers peaked at *** U.S. dollars in 2017, followed by a period of declining transaction value. The coronavirus pandemic has significantly contributed to cross-border transactions remaining subdued. In 2024, the value of property sales to foreigners was the lowest observed since recording began.

Why did the Fluoropolymers (PTFE) Price Change in July 2025? The Polytetrafluoroethylene (PTFE) market in the U.S. trended steady-to-firm through Q2 2025, supported by consistent offtake from pharmaceuticals and semiconductors.

The recent performance of the HVACR industry has been significantly influenced by fluctuations in the residential and commercial construction markets, regulatory changes, and global trade dynamics. Initially, low interest rates spurred residential construction activity, boosting demand for heating, ventilation, air conditioning, and refrigeration (HVACR) equipment. Rate hikes by the Federal Reserve in mid-2022 cooled this demand, especially affecting the financing of construction spending. As interest rates are expected to fall in 2025, a resurgence in residential construction could drive demand, particularly in the growing Southwest market. Commercial demand has been more volatile, initially declining during the pandemic but recovering with the rise of industries like data centers that require advanced climate control solutions. The HVACR industry faces stringent energy efficiency regulations, with manufacturers pressured to innovate due to varying standards across regions. This drive for energy efficiency could lead to higher short-term costs but opens opportunities for market differentiation. On a global scale, the HVACR industry has increasingly leaned on international supply chains, with significant portions of U.S. demand satisfied by imports. Despite tariffs on Chinese, Canadian, and Mexican goods raising production costs, international trade agreements like the USMCA facilitate U.S. exports to neighboring markets. Ongoing trade tensions, coupled with tariffs, pose challenges and could increase operational costs, inflationary pressures, and economic uncertainty, affecting consumer spending and business borrowing. Industry revenue is forecast to rise at a CAGR of 1.1% to $58.6 billion through the end of 2025, with expected growth of 1.5% during the current year. Interest rate cuts and lower inflation are expected to boost residential construction by making mortgages more affordable, increasing demand for HVAC systems in new homes. Nonresidential construction will also expand significantly in the next five years, with a corresponding rise in demand for HVACR equipment for new commercial buildings. This growth in residential and commercial construction will benefit HVACR manufacturers, suppliers, and service providers, creating job opportunities and stimulating economic activity. As consumer spending rises, particularly in dining out, restaurants will need more advanced refrigeration systems, further driving demand in the HVACR sector. The HVACR industry's export opportunities, especially to Canada and Mexico, are expected to grow, although challenges like tariffs may affect production costs. Imports, primarily from Mexico and China, are increasing due to lower labor costs, but are also likely to face uncertainty or additional costs due to tariffs. Reflecting these potential developments, industry revenue is expected to grow at a CAGR of 1.9% to $64.4 billion through the end of 2030.

Full-service restaurants in Canada thrived from the pandemic low, driven mainly by rising levels of consumer spending. However, the unwelcome high inflationary pressure following the pandemic has reduced customers' propensity to dine out as menu inflation surpassed food inflation. As a result, soaring operational costs and lower consumer interest in dining out have suppressed the industry's overall growth. Nonetheless, industry revenue has expanded an annualized 10.8% to $49.5 billion over the past five years, including 2.7% growth in 2025 alone. Likewise, industry profit has improved, accounting for 4.4% of industry revenue. This industry primarily consists of many small, independent, single-location restaurants, making the market quite fragmented. The notable players are franchises that mainly acquire revenue through royalty fees. Over the past five years, full-service restaurants have grappled with soaring costs, especially regarding wages and ingredients. Minimum wages and a restriction on temporary foreign worker supply have driven labor expenses for restaurants, which have already endured staff shortages. In 2025, the US-Canada tariff war is expected to worsen the situation. The tariffs on US-imported produce will force restaurants to work on their current supply chains, such as shifting to source locally and other countries like Mexico. In the outlook period, industry revenue is expected to continue growing, albeit at a slower pace. A decline in household income levels and continued tariff threats will likely drive customers from frequenting full-service restaurants. Consequently, industry revenue is projected to increase at an annualized rate of 1.5%, resulting in $53.5 billion over the five years to 2030.

The North America Battery Energy Storage System Market size was valued at USD 3.91 Million in 2023 and is projected to reach USD 26.28 Million by 2032, exhibiting a CAGR of 31.28 % during the forecasts periods.The North American battery energy storage system market is growing at a stupendous rate, driven by increasing adoption of renewable energy, grid modernization, and the resulting need for reliable energy storage solutions. The region includes the United States, Canada, and Mexico, all of which contribute to the market in their own unique ways with their own special drivers and opportunities. The pioneering states in the United States, like California, have demonstrated a myriad of applications for BESS, from managing intermittent solar and wind energies to reducing greenhouse gas emissions and enhancing grid reliability. The federal tax incentives and policies at the state level promoting the deployment of energy storage have further accelerated market growth across the country. Canada also emerges as one of the key markets where BESS will link renewable energy sources, such as hydroelectric power, with storage solutions. Ontario and Quebec are driving large-scale battery storage projects for a cleaner energy transition and to enhance energy efficiency. Mexico uses BESS to improve grid stability, while in areas far away from transmission infrastructure, it will be paramount to have reliable electricity access to support economic development. It is in the fast-changing technology of battery storage, seen through better energy density and falling costs, that one can find contributions to growth in the North American market. Recent developments include: July 2023: EVLO Energy, a provider of battery energy storage systems & solutions and a subsidiary of Hydro-Quebec, announced its inaugural utility-scale storage venture in the United States. Positioned in Troy, Vermont, the 3MW/12MWh battery energy storage system initiatives are set to enhance the assimilation of indigenous renewables generation into the New England grid. Slated for operation by the end of 2023, EVLO is expected to oversee and uphold the system’s functionality for 20 years., June 2023: a collaborative effort between Ameresco and Atura Power is set to construct a battery energy storage system with a capacity of 250 MW and an energy storage capacity of 1 giga-watt hour. This endeavor is in response to a partnership with Canada's Independent Electricity System Operator. The joint venture is expected to oversee the project’s completion. The initiative is bound by a 20-year capacity agreement with the Independent Electricity System operator, securing its role in delivering energy storage services. Moreover, the project will encompass awarded backlog work exceeding USD 40 million.. Key drivers for this market are: 4., INCREASE IN ADOPTION OF RENEWABLE ENERGY4.; DECLINING COST OF LITHIUM-ION BATTERIES. Potential restraints include: 4., PRESENCE OF OTHER ENERGY STORAGE SYSTEMS. Notable trends are: Lithium-Ion Battery Is Expected to Witness Significant Growth.

Truck, trailer and motor home manufacturers have diverse and varied product offerings across multiple consumer and commercial markets. Recreational vehicles (RVs) and motor homes are often big-ticket discretionary purchases, so this segment relies on low interest rates, high consumer confidence and strong per capita disposable income. In 2020, demand increased for RVs as Canadians adjusted vacation plans amid the COVID-19 pandemic; RVs offered many consumers socially distant vacation options, leading to elevated demand despite severe economic volatility. Conversely, trailer markets surged amid skyrocketing e-commerce demand, offsetting uncertainty in RV and vehicle body production. Overall, revenue climbed at an expected CAGR of 0.6% to $5.7 billion through the current period, including a 0.6% jump in 2024, where profit reached 6.3%. Trade is also an integral component of the industry. The Canadian dollar's appreciation poses a major threat to domestic manufacturers. In particular, buyers have increasingly imported products from Mexico; many international manufacturers have also relocated to Mexico to take advantage of lower production and labour costs. Regardless, Canadian manufacturers have maintained strong trade markets, leading to export growth. Companies also faced major supply chain shortages; climbing metal and electronic component costs pressured purchasing costs and profit. While leading manufacturers could pass some costs onto buyers, overall profit declined at the height of supply chain shortages. A strong Canadian and US economic recovery from the pandemic will create stable growth for Canadian manufacturers. Increased trade and retail volumes will improve prospects for downstream shipping companies. Similarly, companies will benefit from robust demand for natural resource freighting, particularly metallic ores and petroleum shipping. Manufacturers will also prioritize environmental concerns and regulations, leading to a proliferation of electric and hybrid vehicles and boosting revenue expectations. Revenue will expand at a forecasted CAGR of 0.8% to $5.9 billion through the outlook period, where profit will settle at 6.2% as demand returns to pre-COVID levels.

The North American thermal power market, encompassing the United States, Canada, and Mexico, is a mature yet dynamic sector characterized by a relatively low but steady Compound Annual Growth Rate (CAGR) of 0.91% from 2019 to 2033. While the market size in 2025 is not explicitly provided, considering the historical period and projected growth, a reasonable estimate places it in the multi-billion dollar range, driven primarily by consistent energy demand in these densely populated regions. Key drivers include the continued reliance on existing infrastructure, particularly in regions with limited access to renewable energy sources. However, the market faces headwinds from increasing regulatory pressure to reduce carbon emissions and the growing adoption of renewable energy sources like solar and wind power. This transition creates challenges for coal-fired power plants, leading to potential plant closures and a shift towards cleaner-burning natural gas. The segment breakdown shows a significant share for gas-fired power plants, with coal gradually declining, while nuclear and other fuel types maintain their respective positions. Geographic variations exist, with the United States holding the largest market share due to its extensive energy consumption and existing power infrastructure. Growth within the North American thermal power market over the forecast period (2025-2033) will likely be influenced by government policies promoting energy efficiency and the integration of renewable energy. The sector will see continued investments in upgrading existing facilities to improve efficiency and reduce emissions, alongside a cautious expansion of gas-fired capacity in select regions. While the transition to renewable energy will continue, thermal power plants will remain a significant part of the energy mix in North America for the foreseeable future, especially as a reliable baseload power source. Companies like NextEra Energy, Dominion Energy, and Duke Energy will play key roles in navigating this transition, adapting their strategies to balance profitability with environmental sustainability. The market will also see a continued emphasis on grid modernization and smart grid technologies to improve integration and reliability across the entire power generation mix. Recent developments include: November 2023: GE Vernova’s Gas Power business announced that it would support the development of an end-to-end green hydrogen system that Duke Energy plans to build and operate at its DeBary plant, located in Volusia County, Florida, near Orlando. When operational in 2024, the new hydrogen system will provide peak power to Duke’s customers at times of increased electricity demand. The plant is expected to be the first in the United States and among the world’s first power plants to produce and use green hydrogen to power a gas turbine for peaking power applications when the grid requires additional electrical generation to meet demand. The production, storage, and end-use will be co-located at the DeBary power plant. GE Vernova will support the integration of the turbine with green hydrogen, including the upgrade of one of the four GE 7E gas turbines installed at the site to accommodate hydrogen fuel blends of significant volumes., November 2022: The United States Government announced that eight natural gas-fired combined-cycle gas turbine (CCGT) power plants had come online in the United States. Based on estimates and data from the United States Monthly Electric Generator Inventory, these new plants were expected to add 7,775 megawatts (MW) of electric-generating capacity to the United States electric grid., May 2022: JERA Co., Inc., through its subsidiary JERA Americas Inc., entered into a stock purchase agreement with an affiliate of funds managed by Stonepeak for the acquisition of a 100% interest in the thermal power generation projects in Massachusetts and Maine in the United States. The two projects, which had a combined capacity of approximately 1.63 GW, are the Canal Thermal Power Station in Massachusetts and the Bucksport Thermal Power Station in Maine.. Key drivers for this market are: 4., Increasing Investments in Thermal Power Plants. Potential restraints include: 4., Increasing Investments in Thermal Power Plants. Notable trends are: Natural Gas to Dominate the Market.

The North American single-axis solar tracker market is experiencing robust growth, driven by the increasing demand for renewable energy and supportive government policies promoting solar power adoption. The market's Compound Annual Growth Rate (CAGR) exceeding 20% from 2019 to 2024 indicates a significant expansion, projected to continue through 2033. Key drivers include the declining cost of solar photovoltaic (PV) systems, improved energy efficiency offered by trackers, and the growing need for large-scale solar farms to meet escalating energy demands. Technological advancements, including enhanced tracker designs and smart tracking algorithms, further contribute to market expansion. The United States dominates the North American market, followed by Canada and Mexico, with regional variations influenced by factors such as government incentives, land availability, and solar irradiance levels. Major players like Nextracker, Solar Flexrack, and Array Technologies are leading the market, constantly innovating to improve tracker performance and reduce costs. Despite the positive outlook, market growth faces certain restraints. These include the high initial investment costs associated with solar tracker installations, potential supply chain disruptions impacting component availability, and land acquisition challenges in some regions. However, ongoing technological advancements, falling manufacturing costs, and the increasing competitiveness among manufacturers are mitigating these challenges. The forecast period (2025-2033) will see continued expansion, shaped by ongoing policy support, technological innovation, and the persistent drive towards decarbonization. The market segmentation by geography will remain crucial, with the US likely to retain its leading position, driven by its substantial solar energy initiatives and investments. The market is poised for substantial growth, fueled by a confluence of technological advancements, favorable policy environments, and a growing global need for sustainable energy solutions. Recent developments include: In September 2022, FTC Solar, Inc., a leading provider of solar tracker systems, software, and engineering services, announced the launch of a new and differentiated module in portrait (1P) Single-Axis Solar Tracker Solution called Pioneer. The Pioneer supports all module factors, including those over 2.4 meters in length, providing clients with increased flexibility when designing projects. In addition, Pioneer operates independently from the grid during outages and is self-powered with a high-energy battery for up to three days of overall backup, offering increased energy resilience., In March 2022, NEXTracker launched the NX Horizon-XTR, a terrain-following, single-axis smart solar tracker which us likely to broaden the addressable solar power market on sloped, uneven, and challenging terrain by expanding the addressable market. In the last three years, Nextrackerhas deployed and empirically tested the NX Horizon-XTR at the utility scale, working closely with customers facing capital expense and construction challenges on hilly project sites. Using NX Horizon-XTR's terrain-following capabilities, grading can be reduced, steel costs can be minimized, and project risks can be decreased.. Notable trends are: United States to Dominate the Market Growth.