Utility Cases Market Anticipated to Exhibit Growth at a CAGR of 4.0% to Reach US$ 54.1 Bn by 2032, Says FMI

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DUBAI, UAE, March 15, 2022 /PRNewswire/ -- According to Future Market Insights (FMI), the utility cases market is projected to surpass US$ 54.1 Bn, expanding at a 4% CAGR between 2022 and 2032. Due to increasing efforts of product manufacturers to develop novel goods, the utility cases market is expected to rise steadily in the coming years.

The utility cases manufacturers are stepping up their efforts to improve manufacturing capacity in order to capitalize on revenue potential. Demand for utility cases in emerging nations is driven by rapid digitalization, urbanization, internet penetration, and increased infrastructure construction activities.

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Expansion of consumer electronics manufacturers in India and China, is leading the Asia Pacific utility cases industry. However, the global utility cases market is projected to be hampered by a lack of standardization in technology and materials utilized in production processes.

Furthermore, surging trade activities in China is creating significant impact on the consumption of utility cases. End users are providing optimum safety to their products and are delivering damage free products at the distinct locations.

Based on these abovementioned factors, the global utility market will witness lucrative market growth prospects during the assessment period.  

Key Takeaways from Global Utility Cases Market

• In the global utility cases market, plastic segment is estimated to outpace other segments with the major share of 31% in 2022.
• Based on distribution channel, the offline segment will account for 65% of demand share. However, due to penetration of e-commerce industry, the online sales platforms will witness fastest growth.
• In terms of end use, consumer electronic goods will dominate the global utility cases market.
• As per FMI, China utility cases market is expected to witness exponential growth in near future and reach nearly US$ 10 Bn in next five years.
• India utility cases market is expected to create an incremental opportunity of US$ 2.5 Bn, during 2022-2032.

"Polyethylene plastic utility cases are expected to gain traction in the next decade due to the consumer preference for lightweight, economical, and durable hard cases." – comments FMI analyst

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Utility Cases Are Gaining Significant Traction Among Asian End Users

The demand for specialised utility cases is surging response to growing concerns about the safe shipping of high-value electronic components. Custom cases assist customers in resolving shipping issues and protecting sensitive and expensive equipment.

Several manufacturers are using various techniques, such as partnering with prominent firms to provide tailored solutions to a variety of end-use sectors.

Numerous Asian countries' exports rely heavily on the electronics manufacturing industry. Hence, majority of firms cannot afford any product damage or loss during shipment. On account of this, demand for utility cases will increase due to concerns regarding safe and seamless transit of high-valued electronic equipment.

Further, consumers spend excessive amount on high-end mobile devices such as iPads, tablets, and smartphones.  Cases made of high-impact materials and specifically intended to safeguard gadgets from ordinary wear and tear are becoming increasingly popular.

Rapid urbanisation, particularly in China and India, and increased preference toward smartphones, coupled with robust distribution network, is expected to propel the sales of utility cases in mobile phone cases market.

During the forecast period, Asia-Pacific utility cases market is expected to account for a major share in the global market. However, due to the presence of customised utility cases producers in North America, the U.S. utility cases market is expected to register healthy rate. 

Furthermore, thriving e-commerce industry has aided the demand for affordable and diverse mobile accessories, such as utility cases, with a wide range of functions, styles, and graphics. Hence, players have started opening up online sites that provide numerous electronic goods accessories, capitalising on increasing utility cases marketplaces across emerging nations.

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Global Utility Cases Market Landscape

Pelican Products Inc., SKB Corporation, Inc.., PARAT Beteiligungs GmbH, ZARGES GmbH, Nefab Group, Amzer, Inc., Belkin International, Inc., Case-Mate Inc., CG Mobile Case SAS, GT Line Srl, C.H. Ellis Company, Inc, Gemstar Manufacturing Inc., Northbaze Group AB, pOcpac UK, Rearth, Inc., Seidio Inc., Incipio Technologies Inc, Motiba Silicone Private Limited, Sena Cases Inc., Company20.

Global Utility Cases Market by Category

By Material:

• Plastic
• Metal
• Paper & Paperboard
• Silicone
• Leather
• Others (Fabric, Wood, etc.)

By Distribution Channel:

• Online
• Offline

By End Use:

• Consumer Electronic Goods
• Military Gadgets
• Medical
• Automotive
• Other End use

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Key Questions Answered in the Report

• What is the projected growth rate for global utility cases market?
• Which material type is expected to lead the global utility cases market during the forecast period?
• What are the key factors driving the global utility cases market?
• Which end use segment accounted for the largest global utility cases market share?
• Which region is projected to be highly lucrative during the forecast period?

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About Future Market Insights (FMI) 

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers. 

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SOURCE Future Market Insights