Global Industry Outlook: Key Growth Insights in Medical Equipment and Oil & Gas Sectors

Global Industry Outlook: Key Growth Insights in Medical Equipment and Oil & Gas Sectors

LONDON, GREATER LONDON, UNITED KINGDOM, September 19, 2024 /EINPresswire.com/ -- The Global Market Model, recognized as the largest global database for market projections, updates forecasts across more than 10,000 industries semi-annually. These updates reflect the latest economic, geopolitical, and industry-specific trends. The most recent forecast, published in July 2024, revises the earlier predictions made in February 2024.

Overall Market Growth and Key Segment Highlights

The Global Market Model predicts a compound annual growth rate (CAGR) of 7% for the global market between 2023 and 2033. Below are the details of the major segments:
1. Rapidly Expanding Sector: Medical Equipment
o Market Size and Growth: The medical equipment sector is expected to grow at an impressive CAGR of 9.3% from 2023 to 2033.
o Growth Drivers: This growth is being driven by advancements in technologies like 3D printing and robotics, along with the rising demand for minimally invasive medical procedures.
2. Slower Growing Sector: Oil and Gas
o Market Size and Growth: The oil and gas industry is projected to grow at a more modest CAGR of 4.9% over the same period.
o Growth Constraints: The shift towards renewable energy, combined with stringent policies aimed at reducing carbon emissions, is anticipated to curtail growth in traditional fossil fuel markets.

For more detailed insights into industry trends, click here:
https://www.thebusinessresearchcompany.com/global-market-model/demo-request

Emerging Market Trends
• Commercial Aircraft Purchases: The aviation industry is witnessing a recovery, with companies such as Boeing and Airbus reporting strong order backlogs and deliveries.
• China’s Construction Market: The sector is experiencing challenges due to financial instability among major private real estate developers.
• AI and GPU Demand: The rising adoption of artificial intelligence (AI) applications is boosting demand for server GPUs, with AI-driven technologies and real-time data analytics fueling growth in GPU development.
• Professional Services & IT: Automation and advanced AI analytics are set to reshape both professional services and IT sectors.
• 5G and IoT Expansion: The global rollout of 5G technology is accelerating business transformation, improving connectivity, and creating new opportunities for services across industries.

Market Valuation and Leading Segments
• Total Market Size: In 2023, the global market value stood at $254.921 billion.
• Dominant Segments: The largest segments include retail and wholesale (30.7%), financial services (12.1%), and construction (6%).
• Top Markets: The United States and China are the leading global markets, holding 23.4% and 16.9% of the total market share, respectively.

Forecast Stability and Considerations
The current market forecast aligns closely with the February 2024 update. Economic factors such as inflation, supply chain issues, and energy price fluctuations were carefully considered, with the stabilization of crude oil and natural gas prices being a key focus for long-term projections.

Contact Us for More Insights
For comprehensive insights into these and other industries, please get in touch with the Global Market Model team:

Global Market Model
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293

Follow Us on Social Media:
LinkedIn: https://linkedin.com/company/global-market-modelgmm
Website: https://thebusinessresearchcompany.com/global-market-model

Oliver Guirdham
The Business Research Company
+44 20 7193 0708
info@tbrc.info
Visit us on social media:
Facebook
X
LinkedIn