The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Increased vehicle safety and autonomy are likely to stimulate innovation in specialty device manufacturing, propelling the market during the forecast period.

The global specialty devices market is expected to grow from $35.33 billion in 2022 to $41.08 billion in 2023 at a compound annual growth rate (CAGR) of 16.25%. The global specialty devices market size is expected to reach $69.22 billion in 2027 at a CAGR of 13.94%.

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Global Specialty Devices Market Segments Include:

• By Equipment: Construction Equipment, Machinery Manufacturing Equipment, Medical Equipment, Office Equipment, Outdoor Equipment, Technology-Communications Equipment, Transportation Equipment
• By Supply Chain: Manufacturer, Distributor, Retailer
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global specialty devices market in 2021.

Major Market Players in the specialty devices market include American Autowire, AAMP Global, A&A International Co. Ltd., A&E Tools, GForce Engineering LLC, Ginetta Cars, Ablaze Grilles Inc., ProSpeed Autosports, Accelerated Racing Products LLC.

Technological progress is a crucial trend that is gaining traction in the speciality devices industry. To strengthen their market position, major players in the specialty devices market are focusing on developing new technology solutions for motion control and other specialised products. For example, in November 2022, TEXSPIN® Bearings Limited, an India-based automotive company, announced technological achievements in the automotive sector via its technology-driven platforms. The platform includes ‘green products’ such as bearings that help to reduce pollutants, vehicle friction, and fuel consumption. These are the tribology skills developed during bearing development, as well as the heat treatment, precision machining, and precision measurement required for bearing manufacture. With a strong commitment to research-driven innovation, they provide value-added innovative solutions across all of its technology platforms.

The Specialty Devices Global Market Report 2023  provides a specialty devices market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The specialty devices market forecast analyzes specialty devices market size, specialty devices market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The term “specialty equipment” refers to equipment installed by the tenant that has distinct or specialised performance features that allow it to carry out certain duties.

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