Smart E-Drive Market: Highlights on Future Development

The global smart e-drive market is expected to witness significant growth in the coming years, owing to the implication of stringent governments’ norms and regulations for emissions on the automotive industry across the globe. Additionally, the growing demand for hybrid and electric vehicles, with an objective to reduce carbon emission is another reason, which is anticipated to propel the market growth. Furthermore, advancement of truck platooning and integrated mobility solutions, which are probable to use the hybrid and electric automobiles for ideal functioning, are expected to boost the demand for smart e-drive systems.

Among all categories based on drive type, all-wheel drive (AWD) is the leading category and is anticipated to continue dominating this segment during the forecast period, owing to its advantages, which include benefits of both front-wheel drive (FWD) and rear-wheel drive (RWD). Additionally, growing demand for better traction, acceleration, and towing capabilities in vehicles has fueled the demand for sport-utility vehicles (SUVs) and multi-utility vehicles (MUVs) equipped with AWD drivetrain, globally. Furthermore, rising demand for electric and hybrid SUVs and MUVs, the AWD category is expected to dominate the smart e-drive market in the coming years.

Smart E-Drive Market

Geographically, the market is classified into North America, Europe, Asia-Pacific, and Rest of the World (RoW). The European region is expected to dominate the smart e-drive market during the forecast period. The reasons being the strict environmental norms and regulations by the European Union Commission, and thus increasing the demand for hybrid and electric vehicles, resulting in the growth of the market in the region. Also, the presence of established original equipment manufacturers (OEMs) such as Robert Bosch GmbH, ZF Friedrichshafen AG, Continental AG, and others, and rapid expansion of charging infrastructure are acting as the driving forces for the market.

Key growth drivers in the global smart e-drive market are strict norms and regulations by governments across the globe, cost benefits in terms of declining battery price, and improved vehicle efficiency and fuel economy. The adoption of greener energy pertaining to the current environmental scenario also contributes to drive the growth of the market. The demand for electric and hybrid vehicles is increasing, which is primarily fueled by stringent governments’ rules and regulations, subsidies, tax refunds, and grants. In 2017, more than one million electric vehicles were sold, increased the total number of electric and plug-in hybrid cars on roads to more than 3 million, which grew by 54% as compared to the sales in 2016. The growing sales of environment-friendly vehicles will boost the market for smart e-drive systems during the forecast period.

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There are few established players operating in the smart e-drive market. For a new entrant, it is difficult to make its place in the industry, owing to the domination of the established players and high research and development cost. Some of the key players in the market are Magna International Inc., Robert Bosch GmbH, GKN plc, Hitachi Ltd., Hyundai Mobis Co. Ltd., Continental AG, Siemens AG, Schaeffler AG, ZF Friedrichshafen AG, MAHLE GmbH, BorgWarner Inc., Infineon Technologies AG, and AISIN SEIKI Co. Ltd.

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India Electric Rickshaw Charger Market Competition Analysis and Growth Forecast to 2024

Large-scale adoption of electric rickshaws for public transportation across the country is offering ample growth opportunities to the players operating in the Indian electric rickshaw charger market. These low-cost electric rickshaws are a cost-effective and easy mode of transportation for the price-sensitive Indian consumers, and this factor continues to drive the adoption of these rickshaws, further supporting the growth of the market in the country.

On the basis of type, the Indian electric rickshaw charger market is categorized into portable charger and fixed charger. Between the two, portable charger is expected to witness faster growth in demand in the forecast period 2019–2024. Portable chargers work as an alternative to charging stations and allow anytime, anywhere charging, thus gaining popularity owing to the factor of convenience associated with them.

Delhi is the largest market for electric rickshaw chargers in India, and this can be mainly ascribed to the early and wide adoption of electric rickshaws in the city. Delhi ranks among the worst cities in terms of heat-trapping and toxic emissions. Moreover, high population and vehicle usage has made Delhi one of the largest contributors of emissions in India. Since electric rickshaws are an eco-friendly and convenient mode of transport, they have increasingly been adopted in the capital in recent years, which, in turn, has contributed to the demand for electric rickshaw chargers.

However, Uttar Pradesh is expected to hold the largest share in the Indian electric rickshaw charger market during the forecast period, mainly due to the increasing demand for electric rickshaws from the rural–urban fringes, Tier-1 cities, and Tier-2 cities in the state.

One of the major drivers for the Indian electric rickshaw charger market is the growing number of electric rickshaws on Indian roads. Electric rickshaws have gained traction in India in recent times, on account of their lower cost of operation than conventional auto rickshaws and additional advantages over cycle rickshaws. In addition, the Indian government has taken several initiatives in the form of incentives to encourage the adoption of these vehicles. The electric rickshaw market witnessed triple-digit growth in the historical period, mainly ascribed to environmental policies and incentive plans executed by the government, which resulted in the high adoption of these rickshaws in the country.

Furthermore, major automotive players such as Mahindra & Mahindra Limited and Hero Electric Vehicles Pvt. Ltd. have entered the electric rickshaw market in recent years and more such players are expected to enter the market in the coming years, owing to the high growth potential in the market. This, subsequently, is expected to contribute to the growth in demand for chargers, further supporting the Indian electric rickshaw charger market.

Some of the major players operating in the Indian electric rickshaw charger market are Axiom EV Products Private Limited, Krishna Enterprises, Fujiyama Power Systems Private Limited, Rayon Engineers, Mac Auto India, Lzen Electronics India, and KLB Komaki Private Limited.

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Automotive Wrap Films Market Witnessing Robust Growth - Automotive Trend

The global automotive wrap films market is projected to grow at a significant rate during the forecast period (2020–2030). The market growth is primarily driven by the growing need to provide protection to passengers from harmful solar radiation and up surging demand for mobile advertising. Furthermore, these wrap films also protect vehicle’s interior from deteriorating and fading, and prevent the glass from breaking during accident. Such factors boost the growth of the market.
Based on film type, the automotive wrap films market is categorized into window films, wrap films, and paint protection films. Among these, window films dominated the market during the historical period (2014–2019). These films are used in vehicle as they block up to 80–85% of solar radiation from entering the vehicle, resulting in temperature reduction inside the vehicle. Furthermore, these films also improve the security and safety of an automobile.

In terms of vehicle type, the automotive wrap films market is divided into passenger vehicle and commercial vehicle. Of these, the demand for automotive wrap films in commercial vehicle category is expected to grow significantly during the forecast period, owing to high replacement rate of these films in commercial vehicles, due to their considerable surface areas. Furthermore, due to their ability to reach a wider audience, light commercial vehicles and buses are largely preferred by advertising companies for product promotions. This will further boost the growth of the automotive wrap films industry.

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When segmented on the basis of sales channel, the automotive wrap films market is classified into original equipment manufacturer (OEM) and aftermarket. Between the two, the aftermarket category is projected to grow at a faster pace during 2020–2030. The increasing demand for custom solutions and availability of several wrap film producers that offer reliable services are some major factors propelling the growth of the market in this category.

Geographically, Asia-Pacific (APAC) holds a significant share in the automotive wrap films market. This is due to the fact that APAC is the largest market for passenger cars and commercial vehicles across the globe. Furthermore, the regional market is projected to grow substantially during the forecast period. Rising living standards, increasing demand for vehicle customization, and existence of major vehicle manufacturers are the factors driving the growth of the wrap films industry in the region.

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The growing demand for personalized cars and change in lifestyle of customers are some factors that are expected to have a positive impact on the growth of the automotive wrap films market. Furthermore, increasing demand for wrap advertising, owing to cost effectiveness, also accounts for the rapid growth of the market. Commercial vehicles, such as large vans and buses, which are used for tourism, also use wrap films for advertising and promotions. These films protect original paint from wearing and chipping and also enhance the look of vehicles. The requirement for protecting the original paint of automobiles for an extended time period is further spurring the demand for these films.

Major players operating in the global automotive wrap films market include Eastman Chemical Company, 3M Company, Avery Dennison Corporation, LINTEC Corporation, Saint-Gobain Performance Plastics Corporation, Arlon Graphics LLC, and Hexis UK Ltd.

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How is Growth in Global Air Conditioner and Refrigerator Markets Driving Insulation Market?

The global air conditioner and refrigerator markets are witnessing significant growth, majorly because of the increasing demand for these systems from countries such as China and India. Moreover, due to global warming, the need for energy efficient heating, ventilation, and conditioning (HVAC) equipment is also surging. The energy efficiency of HVAC systems is determined by the amount of energy that is being consumed for the desired level of heating or cooling; hence the lesser the energy consumed, the higher the efficiency of the appliance. In order to reduce the consumption of energy by enhancing the efficiency of insulation materials utilized in heating and cooling systems, various technological advancements are being undertaken. 

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The rising requirement for insulating materials for residential and industrial applications is a key driving factor of the insulation market. Over the past few years, the U.S. has registered a significant growth in the demand for housing, which has resulted in the increased residential construction activities. A similar situation is being witnessed in European countries, which are recovering from the negative economic growth. All these residential projects are creating a high demand for insulating materials in order to save energy costs. Moreover, insulation products are utilized in industries for thermal and acoustic insulation. Most of the industries and manufacturing units today need insulation for cost-effective operations. 

The process of insulation refers to the prevention of flow of sound, heat, or electricity, either from or into a building, by making use of non-conducting material. As per a study conducted by P&S Intelligence, in 2017, the global insulation market reached a value of $52,296.0 million and is predicted to grow at an 8.6% CAGR during the forecast period (2018–2025). The primary products utilized for providing insulation are mineral wool, expanded polystyrene (EPS), glass wool, and extruded polystyrene (XPS). Some other insulating products include calcium silicate, cellular glass, melamine foam, polyethylene, aerogel, calcium-magnesium-silicate fibers, perlite, expanded rubber, and spray foam. 

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Among all the insulation products, the largest demand was created for glass wool during 2014–2017. Glass wool is a thermal insulator comprising knotted and flexible glass fibers that traps the air inside, resulting in low density. The insulator is made up of sand and has acoustic and thermal insulation properties, in addition to low weight and high tensile strength. During the forecast period, however, the largest demand is projected to be created for EPS. This is ascribed to its extensive usage in several thermal and acoustic applications due to its various properties including fire resistance, durability, light weight, and ease of recycling. 

The different application areas of insulators are non-residential construction, residential construction, and HVAC, industrial, and original equipment manufacturers (OEM). Out of these, the largest demand for insulating materials was created for residential construction applications during 2014–2017. This is attributed to the large-scale utilization of various insulating products in construction activities, which are increasing at a high rate due to the surging population and rising income of people around the globe. The fastest growth in demand for insulators is expected to be created for the industrial, HVAC, and OEM application. 

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European Fully Autonomous Car Market Projected to Reach 4.0 Million Units in Near Future

In the European region, about 230 people each day and approximately 83,000 people every year die due to road accidents, according to the World Health Organization. While vehicles have made life immensely easy for everyone, road traffic, deaths, and serious injuries caused because of road accidents and crashes are the ugly side of road transportation. Road accidents can be mainly attributed to human error; drivers’ failure to pay attention, keeping unsafe distance from the vehicle moving in front, and inappropriate speed are just some errors which lead to road fatalities. Because of these reasons, there is a growing need for a safer and more-efficient driving option. Autonomous cars are expected to become the go-to option for people, who want to prioritize safe road transportation, in the coming years.

Such cars can be semi-autonomous or fully autonomous: semi-autonomous cars are not self-driving but may be able to deaccelerate, accelerate, or stop without human intervention, depending on their level of automation. A fully autonomous car, however, does not require a human to drive them safely, as these vehicles have software and sensors to navigate, control, and drive themselves. In the coming years, the European autonomous car market for fully autonomous models is predicted to reach 4.0 million units, advancing with a CAGR of 37.4%, as per P&S Intelligence. The demand for commercial autonomous cars is expected to be more than that for personal ones in the near future. This would be due to the rising deployment of fully autonomous cars for commercial purposes. The car ownership scenario is also changing in the European region because of the increasing availability of shared autonomous cars.

The use of autonomous cars as mobility-as-a-service (MaaS) is projected to result in their increasing demand. Risk factors, such as those related to car crashes (as mentioned above), are quite high in traditional car sharing services. Due to this, service providers are expected to focus on the autonomous technology, and large fleet operators are predicted to be among the early adopters of fully autonomous cars. Furthermore, since the operational cost of conventional cars is higher, ride sharing services on autonomous cars will be much more cost-effective for service providers. Because of all these advantages, different car manufacturers and technology companies are increasing their focus on the development of autonomous taxis or robo-taxis. Take for instance Navya, a French start-up, which launched its first autonomous taxi in 2018. Similarly, Waymo and Alphabet have joined forces in order to introduce robo-taxi services in Europe in the near future.  

The integration of artificial intelligence (AI) in the automotive industry has made possible the development of level 4 and 5 autonomous cars. The development of several technologies, such as virtual assistance, driver monitoring, natural language interface, gesture recognition, speech recognition, and eye tracking, has been due to the penetration of AI. In addition to this, AI has also helped in the development of the advanced driver-assistance system (ADAS), which includes driver condition evaluation systems, radar-based detection units, camera-based machine vision systems, and sensor fusion engine control units. Thus, because of the integration of AI, the demand for autonomous cars in the European region is predicted to increase significantly in the coming years.

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U.S. Coding and Marking Systems Market to Register 7.6% CAGR in Near Future

The automobile demand in the U.S. is rising due to the availability of easy credit, decrease in gas price, and growing rate of employment. For example, as per a report published in the Los Angeles Times, in 2016, 17.5 million vehicles were sold in the country, which was higher by 0.08 million units than the 2015 sales volume. The expanding automotive industry also makes extensive use of coding and marking systems for ensuring identification and creating protection against the threat of counterfeits, which is why the demand for these systems is predicted to rise significantly. Coding and marking systems basically provide product-related details, including price, manufacturing and expiry dates, and batch number, on the packaging to the end users. Components can be tracked and identified through the various phases of the production process with the help of these systems.

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As per a research conducted by P&S Intelligence, in 2017, the U.S. coding and marking systems market generated a revenue of $558.4 million and is expected to attain a value of $860.6 million, advancing at a 7.6% CAGR, in the coming years. Various technologies used by coding and marking systems are drop-on-demand, laser coding & marking, thermal transfer overprinting, print & apply labelers, continuous inkjet, and thermal inkjet. Other technologies include hot-melt inkjet and valve jet. Among all these, the largest demand was created for the continuous inkjet technology during the time period 2013–2017. Continuous inkjet printers are best for coding and marking flat and curved surfaces, such as packages, printing on bottles, automotive and aerospace components, and others. These printers have a low cost and are easy to operate, which is why they are used by almost all industries.

Several industries that make use of coding and marking systems are shifting from conventional printing to digital printing solutions. This is because, by utilizing digital printing solutions, such as continuous inkjet, millions of characters can be printed using just a liter if ink. In addition to this, where on one hand, traditional printing solutions generate more inventory waste and are time consuming, the ink utilized in digital solutions dries quickly, which makes the whole process efficient, quick, and cost-effective. Due to these advantages of digital printing solutions over conventional printing methods, manufacturers are increasingly focusing on the development and marketing of digital coding and marking solutions.

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Moreover, since the attention toward product anti-counterfeiting and traceability is growing, the requirement for coding and marking systems is also expected to increase as they have the ability to provide a new level of supply chain tracking and visibility. Through the use of smart coding, manufacturers can protect their brand and products in a better way and can further communicate the brand message in a more attractive manner. Moreover, the technology enables manufacturers to enforce and check anti-counterfeit and diversion activities throughout the supply chain. For instance, a permanent batch code on the product is printed by making use of smart coding, where the basic batch code is enhanced by altering specific characters in the code, thereby making it difficult for unauthorized parties to copy the code.

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Automotive 3D Printing Still has a Dominant Position in the Market, Says Report

The global automotive 3D printing market is expected to observe an extensive growth in the coming years, due to factors such as reduction in lead time in production, low operational cost, design flexibility, proficient use of raw materials, and ease of customization. In addition, continuous technological advancements, growing manufacturers’ focus on product quality, and growing demand for precision machined components are expected to benefit the market. Apart from this, availability of entry-level low-cost 3D printers is anticipated to have a positive impact on the market’s growth.

On the basis of component, the automotive 3D printing market is categorized into technologies, materials, and services. During the forecast period, the market is anticipated to witness the fastest growth in the category of technologies. The category is further classified into stereolithography (SLA), selective laser sintering (SLS), electron beam melting (EBM), fused deposition modeling (FDM), laminated object manufacturing (LOM), and others. Among these, SLA is anticipated to play major role in the growth of the market in the coming years as it has enhanced speed and techniques for designing and manufacturing objects, thereby reducing prototyping time and benefiting various industries significantly.

Additionally, materials category is further divided into metals, polymers, and others. Polymers are most extensively used 3D printing materials, mainly due to their strength and flexibility properties. However, the metals are anticipated to gain traction in the near future in the automotive 3D printing market, mainly because they can withstand high pressure and temperature.

Geographically, North America was the largest automotive 3D printing market, followed by Europe and Asia-Pacific, during the historical period. The penetration of 3D printing application is highest in North America mainly due to early adoption of technologies as compared to other regions. However, Asia-Pacific is expected to lead the market during the forecast period, owing to increasing investments by public and private establishments in the region. Also, countries such as China and India are expected to invest heavily to commercialize several technologies in the automotive sector. Additionally, expiration of key patents related to 3D printing processes has impelled manufacturers and start-ups to enter the market in the region. Apart from these, decline in prices of 3D printers would also boost the demand for 3D printing.

Increasing need to manufacture complex design in the automotive sector within short span of time, coupled with increasing demand for precise machined components and high product quality is the primary factor driving the automotive 3D printing market. 3D printing process has a number of advantages over traditional manufacturing process such as shorter value chain, time and cost reduction through elimination of assembly steps, greater customization and design freedom, and minimal wastage. Additionally, at the initial stage of production, the usage of 3D printing is beneficial, as designers can early identify errors or defects from initial prototype; thus, eventually reduces overall production lead time and operational cost.

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The global automotive 3D printing market is concentrated with few major players. One of the main key players in the market is 3D Systems Corporation. The company provides 3D printing solutions with several features, including transformation workflows, design optimization, and innovation in product application. Other leading vendors in the industry are Stratasys Ltd., Autodesk In.c, Arcam AB, EnvisionTEC Inc., Höganäs AB, Optomec Inc., Ponoko Limited, Stratasys Ltd., The ExOne Company, and Voxeljet AG.

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Why are Construction Firms Turning to Polymer Concrete?

As of 2017, 189 strategic infrastructure projects in Germany were in the development phase with a total investment of $129.6 billion. Similarly, in 2014, under the ‘Make in India’ initiative, an investment of $650.0 billion was estimated for urban infrastructure development in the country for the next 20 years. Governments of the world are increasing their investments in civil construction projects, such as buildings, water reservoirs, bridges, tunnels, roads, sewer systems, railways, and airports, as the construction industry helps in creating jobs and channelizing investments. Due to the growth that the construction industry is experiencing, the use of polymer concrete is also increasing.

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Polymer concrete is a composite material which hardens into place using an epoxy binder. Various kinds of polymer resins, such as polyester, vinyl ester, and epoxy, can be used to make the materials as they allow the concrete to be poured or troweled and then hardened. Polymer concrete has many advantages over traditional concrete, including high resistance to chemical attack, abrasion, freezing, thawing, and impact and high compressive strength. Due to these reasons, the polymer concrete market is expected to grow at a CAGR of 7.1% and reach a value of $2,964.0 million in the coming years. The increasing repair and maintenance activities are one of the primary reasons behind the growing demand for the substance.

In February 2018, the President of the U.S. rolled out a plan to repair and rebuild the nation’s infrastructure, including highways, seaports, bridges, airports, and railroads, with an investment of $2.0 trillion. Similarly, out of the 600,000 bridges in the U.S. almost 40.0% were more than 50 years old and 9.1% were structurally deficient in 2016. Due to these reasons, North America accounted for more than 20.0% of the worldwide revenue for companies manufacturing the substance in 2017. The material ensures that the repairing process doesn’t take much time. For example, rapid patch polymer concrete makes sure that emergency repairs of airport runways are done quickly so that not much disruption is caused to airport operations. In addition, polymer manufacturers in the region are also trying to enhance the properties of their products, such as chemical resistance, ease of installation, and toughness, which is resulting in a surging demand for polyester concrete for infrastructure and construction industries.

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The various types of polymer concrete available are polyester, vinyl ester, and epoxy. Polyester resin is used as a binding agent instead of cement in polyester concrete, which provides flexural strength to the concrete. Vinyl ester polymer concrete is used for the chemical-resistant construction of containment areas, dikes, and sumps. In addition to having superior chemical resistance, this type of polymer concrete has low porosity, fast chemical set and less down time, and a maximum service temperature of 220-degree F. Up till now, the polymer concrete market for epoxy-based products has been the largest in terms of consumption because of their high physical strength and good bonding ability with metal surfaces and concrete. Applications which encounter high impact, chemical exposure, and heavy loads use this polymer concrete as it has superior mechanical and durable properties.

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Medical Lasers Market Studied in Detail by Focusing on Product Type, Test Type, Application, And Competitive Landscape with Top Companies

The number of surgical procedures has been on a rise due to the growing prevalence of chronic diseases. As per the data provided by the Word Bank 30,537 surgeries were performed per 100,000 people in the U.S., in 2012.

Similarly, in 2015, the number of surgeries performed in Australia was 28,907 per 100,000 residents. Since surgical procedures are critical in nature and can be fatal if not performed with utmost care, the surgeons need to be trained properly. Attributing to this, the demand for surgical simulation products and services is increasing rapidly, as they can help prevent and reduce medical errors during surgeries.

Surgical simulation involves the utilization of mechanical or electronic surgical simulators in order to represent the test conditions which resemble practical medical situations. These simulation procedures are performed for providing procedural, technical, and operational skills to medical residents and practitioners. According to a research conducted by P&S Intelligence, the global surgical simulation market generated a revenue of $254.7 million in 2017 and is projected to grow at a 15.7% CAGR in the coming years. Surgical simulation solutions include both products and services. Out of these, the larger demand during 2013–2017 was created for products and the situation is going to be the same in the near future.   

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A key trend in the surgical simulation market is the adoption of augmented reality (AR) and virtual reality (VR) technologies in surgical simulation for enhancing the efficiency of medical trainees. The companies providing surgical simulation solutions are increasingly focusing on incorporating AR and VR technologies in their offerings in order to provide high-fidelity simulation environment to the residents. For example, in December 2017, ArthroS Ankle, a VR simulator for ankle arthroscopy, was launched by VirtaMed AG; the various features of the product include authentic haptic feedback through life-like anatomic ankle model, customizable course structure for proficiency-based learning, adapted original tools, and realistic VR graphics.

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E-Cigarette Market is Anticipated to Attain a Size of $41.7 Billion by 2024, Progressing at a CAGR of 21.6%

E-cigarettes, short for electronic cigarettes, are providing smokers a safer alternative to tobacco-based products. Because the health hazards of such devices are relatively low compared to traditional ones, the global e-cigarette market is expected to grow by leaps and bounds in the coming years.

It is being estimated that the market size in 2023 will be more than thrice of what it was in 2017. Cig-a-likes, vaporizers, and vape mods are the various types of products on offer that are primarily sold through vape shops, supermarkets, online platforms, and tobacconists.

Rising awareness about the dangers of traditional smoking is the primary factor driving the growth of e-cigarette market . Electronic cigarettes are claimed to eliminate the risk of cancer, thus resulting in an increased demand among consumers.

Another factor responsible for drawing the attention of customers to e-cigarettes is the reduced production of ash, vapor, and buds. The mist created by these disappears instantly, reducing associated side-effects, while no need is felt to dump the buds and sprinkle the ash. Since traditional cigarettes are banned in public places in many countries because of the ash and smoke they produce, the electronic alternatives are being accepted with open arms.

Talking of the 2013–2017 e-cigarette market scenario, North America led the global market in terms of revenue generation, while Asia-Pacific (APAC) witnessed the fastest growth. The CAGR of the APAC region during 2018–2023 is again expected to be the highest.

Additionally, with market players increasingly focusing on bringing new and improved products and merging with or acquiring similar or related firms, the market is expected to develop further. For instance, Japan Tobacco Inc. entered the Ethiopian market in 2017 after acquiring a stake in National Tobacco Enterprise (Ethiopia) S.C., while British American Tobacco plc launched a tobacco-heating product, glo, which, despite tasting similar to tobacco, produces a lot less toxicants, vapor and smell.

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Hence, with rising awareness about the health risks of smoking, more people wanting to quit, increasing government restrictions on traditional forms of smoking, advancements in technology, and social acceptability of electronic alternatives, e-cigarettes are expected to witness a high demand, especially in developing countries.

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Automotive Refinish Coatings Market Overview, with Recent Technologies, Applications, Growth, Insights and Status

The growth in the automotive refinish coatings market is being driven by increasing recreational vehicle sales and rising disposable income. A revenue of $8,244.3 million was generated by the market in 2017, and it is projected to grow at a 5.1% CAGR during the forecast period (2017–2023). Automotive refinish coatings are applied on the body of a vehicle to restore its aesthetics. These refurnish coatings can be applied to the vehicles in various environments in contrast to paints and coatings that are applied in automotive factories.

The automotive refinish coatings market is being driven by the increasing average age of vehicles. Vehicles that were manufactured during the 2000s had a low average lifespan. Owing to technological advancements, vehicles being manufactured in present times have an increased average lifespan. For example, the average age of vehicles in the U.K. increased to 7.8 years in 2015 from 6.8 years in 2003. The demand for refinish coatings is rising, as with the increasing average age, vehicles become prone to environmental damage in the form of corrosion.

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Another contributing factor in the automotive refinish coatings market progress is the rise in the number of vehicle collisions. An increase in the vehicle collision rate has been observed due to the increasing number of vehicles on the road, which ultimately leads to congestion. In 2015, 48,923 vehicle crashes were reported in the U.S., which was 8.8% higher than the previous year. The demand for automotive refinish coatings is increasing with the growing vehicle collision incidence, as these necessitate damage repairs and refurbishing.

The growing popularity of recreational vehicles (RV), especially in the developed countries in Europe and the North America, is adding to the growth of the automotive refinish coatings market. RVs are vehicles modified to include a living space and basic home amenities. Different vehicles, such as school buses, trailers, vans, and even trucks, are used for this purpose. The Recreation Vehicle Industry Association mentioned that the sales of these vehicles have seen an exponential increase in the past 8 years. As they are mostly customized as per the customer’s liking, the demand for automotive refinish coatings is increasing.

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The segments of the automotive refinish coatings market are vehicle age, product type, auto type, resin type, and technology. The auto type segment is subdivided into commercial vehicles, cars, two-wheelers, and others. in 2017, the cars category dominated the market in terms of revenue generation by holding a share of 70.1%. This can be attributed to the rise in accidental insurance claims. The second-largest category was commercial vehicles, owing to the increasing popularity of RVs in developed nations.

Based on technology, the automotive refinish coatings market categories are UV-cured, water-borne, and solvent-borne coatings. The solvent-borne category accounted for close to 60.0% share in terms of volume in 2017, as these are more cost-effective than other technologies. Owing to the demand for eco-friendly technologies in order to comply with low volatile organic compound emission regulations, the water-borne category is expected to be the fastest growing during the forecast period.Therefore, the market for automotive refinish coatings is slated to advance during the forecast period owing to the growing number of vehicles on the road and resulting accidents.

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Healthcare IT Integration Market by Product & Services, Application and Forecast Report 2024

The global healthcare IT integration market size is estimated to witness a considerable growth during the forecast period. The major factors that will accelerate the growth of the healthcare IT integration market are high healthcare costs, government initiatives to curb this rising cost and the growing demand to incorporate IT in the healthcare domain. However, the cost of incorporation is expensive and needs to monitored for the growth in the global market.

The healthcare IT integration market has been categorized on the basis of product and services, and application. The products in healthcare IT integration market include interface/integration engines, media integration solutions, medical device integration software, and other integration tools. Based on the services provided, the market is segmented into implementation services, support and maintenance services, and training services. In the services segment, support and maintenance services hold the largest healthcare IT Integration market share and is expected to hold its position during the forecast period 2013-2023.

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The introduction of the electronic health record (EHR) market in hospitals, clinics and other organizations, to enable patient engagement, and increase the productivity conversely decreasing the healthcare cost, provides ample growth opportunities for the healthcare integration market. Further, Asia Pacific is an emerging healthcare market that holds a huge potential to offer IT solutions to curb healthcare complexities, this encourages investors and market players to consider expansion in the region.

Asia-Pacific is expected to be the fastest growing healthcare IT integration market in the forecast period. The rise in awareness with respect to various health conditions and the consequent increase in expenditure for a better healthcare infrastructure, thereby providing quality healthcare facilities at lower cost are some of the drivers for the region’s fastest growth. Further, the regulatory bodies in this region are rather less stringent as compared to the rest of the world which will further boost the growth of the healthcare IT integration market.

Some of the key players in the global healthcare IT integration market are Quality Systems Inc., Allscripts Healthcare Solutions, Inc., Orion Health, Oracle Corporation, Qualcomm Life, Inc., IBM Corporation, Corepoint Health LLC, GE Healthcare, Siemens Health, Epic Systems Corporation, Summit Healthcare Services, Inc.

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India Electric Car Demand - The Boom in India EV Industry

The air pollution level in India is increasing rapidly: the country is among the bottom five countries in the environmental health category, ranked 178 out of 180 when air quality is taken into consideration, on the Environmental Pollution Index 2018. In 2017, the carbon dioxide emissions in India rose by 4.6%. The ultra-fine particulate matter emitted by vehicles are among the major factors responsible for this degrading quality of air. Hence, in order to decrease the air pollution, the Indian government is focusing on shifting from traditional fuel-based vehicles to electric vehicles. Moreover, the norms that are being implemented by the government are projected to result in the increased adoption of these vehicles.

As per a study conducted by P&S Intelligence, the Indian electric car market generated a revenue of $71.1 million in 2017 and is expected to reach a value of $707.4 million in 2025, advancing at a 34.5% CAGR during the forecast period (2018–2025). The three types of electric vehicles are plug-in hybrid vehicles (PHEV), battery electric vehicles (BEV), and hybrid electric vehicles (HEV). Among these, the largest demand in 2017 was created for BEVs and the situation is going to be the same in the coming years as well. The reason for this is the higher subsidies provided by the government on the purchase of these vehicles as compared to PHEVs and HEVs.

Government schemes and subsidies are significantly contributing to the growth of the Indian electric car market. Various policies related to electric vehicles have been announced by the public authorities of India in the past few years. Take for instance, the FAME scheme, which was introduced in 2015 for encouraging the adoption of clean fuel technology cars. Another target of this scheme was to reduce the upfront purchase value of electric and hybrid vehicles. Furthermore, NITI Aayog launched a scheme for building electric vehicle charging infrastructure in Gurgaon-Indira Gandhi International Airport-South Delhi-Noida corridor in 2017.  

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The primary end users of electric cars in India include government organizations, personal users, and shared mobility providers. Private and corporate car fleet owners are some other end users of electric cars. Among these, the largest demand for electric cars in predicted to be created by personal users during the forecast period because of the growing disposable income of the users and rising affordability of electric cars. The two types of lithium-ion batteries that are utilized majorly in electric cars are lithium iron phosphate (LFP) battery and lithium nickel manganese cobalt oxide (Li-NMC) battery.

With the increasing adoption of electric vehicles, manufacturers are focusing on overcoming the problem of range associated with these vehicles. While technological advancements have dealt with this problem to some extent, the range anxiety during inter-city travel still exists among people, which is why the original equipment manufacturers need to offer electric cars with enhanced range. In India, currently two companies are the leading manufacturers of electric cars; TATA Motors Limited and Mahindra & Mahindra Ltd., both of which are engaged in launching electric cars which are more efficient.  

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Microfiltration Membranes Market to Grow with Increasing Product Adoption in Food and Beverages, and Industrial Wastewater Treatment

Food and beverages is another industry driving the microfiltration membrane market growth across the globe. As health issues from contaminated food and drinks have become a major cause for concern, manufacturers are increasingly employing microfiltration to treat their products before selling them. The technology has found a significant role in beer brew, as it helps in the removal of spoilage organisms and contaminants from the brew. Traditionally, the process utilized separation and filtration, which required the disposal of effluents, thus affecting the taste. Microfiltration has helped the brewers combat this problem, with no impact on the taste. 

Microfiltration is a process in which an impure fluid is run through a fine membrane to remove microorganisms and other contaminants. There are several materials used for manufacturing the membrane, such as polyethersulfone (PES), polypropylene (PP), polyvinylidene fluoride (PVDF), and polytetrafluoroethylene (PTFE). Among these, PVDF membranes generated the highest revenue during 2013–2017, as the material is effective in separating high-molecular-weight proteins from fluids. 

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The need for a more efficient contaminated fluid purification process in the foods and beverages, pharmaceutical, and industrial wastewater treatment industries is taking the microfiltration membrane market forward. During 2018–2023, the market is expected to advance at a CAGR of 9%, reaching $4,039.3 million. Geographically, Asia-Pacific (APAC) will be the market leader during the forecast period; however, the Middle East and Africa (MEA) will witness the highest CAGR in the market. Of all the industries using this technology, industrial wastewater treatment generated the highest revenue in the said period. 

Chemical resistance and high thermal stability are the main factors behind the increasing use of these membranes for water treatment. Other advantages associated with microfiltration membranes are their spinning stability, ease in processing hollow fibers, and high permeability. Over the time, conventional techniques, such as sedimentation and sand filtration, have proved inefficient in the process, leading to a shift toward microfiltration. Municipal water departments are increasingly using microfiltration techniques to remove viruses and bacteria and make contaminated water harmless to the RO equipment. 

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Yet another factor that is expected to be instrumental in the microfiltration membrane market prosperity is the increasing application of the technology in developing nations. In APAC and MEA, the demand for clean water is on the rise, leading to higher microfiltration membrane sales. For instance, a 1,080-hp pump was installed in India in 2016 for sewage treatment. Larger water treatment capacity requires more microfiltration membranes, which, in turn, drives the market growth. 

The major restraint in the growth of the microfiltration membrane market is the high cost of membranes. These membranes are soaked in 100% methanol prior to use, and this added step in the production results in their high cost. However, major market players are coming up with more efficient membranes for microfiltration, increasing the interest of costumers in the technology. For example, in 2017, Lanxess AG introduced three wastewater and drinking water treatment products to give consumers a wider choice. 

Thus, we see that owing to the growing adoption of microfiltration membranes in the MEA and APAC regions, the microfiltration membrane market will experience healthy growth globally.

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Electric Vehicle Battery Demand Globally - An Emerging Market

The global automotive battery market is anticipated to witness a steady growth during the forecast period due to increasing end users’ preference for zero-emission hybrid and electric vehicles, owing to falling battery price, reducing crude oil reserves, and environmental effect of conventional automobiles. In accumulation to this, increase in the global battery production capacity has helped to achieve economies of scale in the automotive battery industry, which is another major driver for the growth of the market.

On the basis of type, the automotive battery market has been categorized into lithium-ion, and sealed lead acid. Among these, the market for lithium-ion batteries is anticipated to observe the fastest growth during the forecast period. Lithium-ion battery is equipped in applications, which demand high-energy density solutions such as hybrid and electric automobiles. Also, in an effort to increase vehicle economies, manufacturers are continuously focusing on reducing the price of the battery, which leads to propel the market growth, globally.

Based on vehicle, the automotive battery market has been categorized into two-wheelers, passenger vehicles, electric vehicles, and commercial vehicles. Among these, the demand for automotive batteries from electric vehicles is estimated to register an exponential growth during the forecast period, owing to increasing sales of electric vehicles and rising environmental pollution. Government initiatives to promote electric vehicles by offering generous subsidies and implementing regulations continue to drive the market for electric vehicles, which in turn, increase the demand for automotive batteries.

On the basis of region, the automotive battery market has been categorized into North America, Europe, Asia–Pacific (APAC), the Middle-East and Africa (MEA), and rest of the world (RoW). The APAC market for automotive batteries is estimated to witness the fastest growth in the coming years. This regional market is led by China, Japan, India, and Indonesia, which are forecasted to experience robust growth in the sales of commercial and passenger vehicles. Also, sales of electric cars are anticipated to experience a massive growth in APAC region in the coming years, fuelling the battery market in the region. Ongoing product developments by several companies to produce high-performance and cost-efficient vehicles are estimated to contribute to the growth of the market for automotive batteries in the APAC region.

The growth of the automotive electric vehicle battery market is primarily driven by the increasing demand for electric vehicles due to falling battery price and stringent regulations set by several government agencies across the world. Decline in prices of lithium-ion battery packs are resulting in the increase in electric vehicle sales. The average price of lithium-ion battery pack is reduced to around $220 per kWh from 1000 per kWh, a decline of more than 75%. The decrease in battery cost is resulting in the decrease in electric vehicle upfront cost, as battery accounts for around 30–40% of total electric vehicle’s cost. This is uplifting the market of the automotive battery.

Key players operating in the global automotive battery market are Panasonic Corporation, Samsung SDI Co. Ltd., Johnson Controls International PLC, Kokam Co. Ltd., BYD Company Limited, Toshiba Corporation, LG Chem Power Inc., Sanyo Electric Co. Ltd., Li-Tec Battery GmbH, Furukawa Electric Co. Ltd., Leoch International Technology Limited, GS Yuasa International Ltd., Crown Battery Manufacturing Company, Exide Industries Limited, Hitachi Ltd., Fengfan Co. Ltd., Shandong Sacred Sun Power Sources Co. Ltd., and Chaowei Power Holdings Limited.

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High-Throughput Screening Market is Expected to Witness the Fastest Growth in APAC During the Forecast Period

The global high-throughput screening market size is witnessing considerable growth due to increasing geriatric population, increasing healthcare expenditure, increasing research and development activities, launch of technologically advanced products that are miniaturized and automated and growing popularity of high-throughput screening for drug discovery. Moreover, high adoption of high-throughput screening models in pharmaceutical and biotechnology companies across the globe is supporting the growth of the market. Based on technology, 2D cell culture segment is expected to grow at the fastest rate during the forecast period owing to its low cost and ease of use.

The rapid growth in emerging economies and growing research and development activities on stem cells and toxicology is expected to create opportunities for the manufacturers of high-throughput screening products. However, high cost of high-throughput screening, lack of trained professionals and complexity in assay development are the key factors hampering the growth of the global market.

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Geographically, North America has been the largest market for high-throughput screening, owing to its increased awareness, increasing government funding, established healthcare industry, and easy accessibility to advanced technologies due to the awareness in the region. The U.S. contributed largest revenue to the North American as well as global high-throughput screening market. The increased research and development activities and increasing prevalence of chronic diseases arising the need for novel treatments is the key growth driving factor for the U.S. high-throughput screening market.

Globally, the high-throughput screening market is expected to witness the fastest growth in Asia-Pacific during the forecast period. The highest growth in the region is attributed to the increasing research and development activities, increasing per capita income leading to improving standard of living, increasing healthcare spending, growing demand for better quality medical care, and awareness about high-throughput screening in the region.

The key players operating in the global market are Agilent Technologies, Inc, Danaher Corporation, Thermo Fisher Scientific Inc., Merck Millipore, Bio-Rad Laboratories, Inc., Hamilton Company and Aurora Biomed, Inc.

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Hexamine Market Analysis with Key Players, Applications, Trends and Forecasts

The increasing requirement for hexamine in various sectors, such as rubber, fuel, pharmaceutical, and explosives, is positively impacting the hexamine niche. Hexamine is a white, crystalline compound that is formed by the chemical combination of formaldehyde with amine. The increasing population is resulting in the rising poverty rate due to the mismanagement of resources. This is causing an increase in urinary tract infections and neurological disorders. Hexamine is prescribed as an antibiotic to treat bacteriuria in such patients. 

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The compound is also used in the production of vulcanized rubber tires. The automobile sector is expanding on account of the increasing vehicle sales due to the growing disposable income. Another factor aiding in the hexamine niche progress is the use of the compound by the plastics sector for manufacturing plastic sewage pipes used in construction projects. Hence, the hexamine niche is projected to advance during the forecast period due to the growth in the end-use sectors.

Globally, Asia-Pacific (APAC) has been the largest hexamine market, with a contribution of more than 50.0% revenue in 2017. It is also expected to be the fastest growing market during the forecast period, with 4.5% CAGR. Increasing demand for the chemical from different industries, such as rubber, resin, and pharmaceutical, is driving the growth of the market in the region.

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Of all application categories in the hexamine market, resin accounted for the highest consumption of the chemical, with a contribution of more than 50% in 2017. This is attributed to the fact that it acts as an important component in thermosetting the resin production by working as a curing agent.

The white crystalline heterocyclic organic compound, i.e., hexamine, is highly soluble in water and organic solvents. However, there are certain side effects of taking it as a medication. The most common side effects of taking this as a medication are vomiting, diarrhea, loss of appetite, and stomach cramps, rashes, swelling of tongue, difficulty in breathing, and dizziness. Thus, these effects act as a restraint to the growth of the hexamine market.

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Wiring Harness Market for Auto Sector - Business Forecast Revenue

The global automotive wiring harness market is growing, due to increase in demand for electronics and safety features in passenger car, technological advancement in automotive wiring harness system, and growing demand for electric vehicles. Additionally, the increase in overall vehicle production and legislation mandating automotive safety technology are also supporting the growth of the market. Wiring harness for alternate energy vehicles and growing automotive safety norms in developing countries are some of the factors providing ample growth opportunities for the global automotive wiring harness market. Some of the factors restraining the growth of the market are maintenance issues related with automotive wiring harness, and their high cost. 

The automobile sector is growing, especially in Middle East & Africa, due to increasing government support in form of tax exemptions and fiscal incentives in free zones of the region. In Japan,   the small car segment of the automotive industry is growing, which is supporting the growth of the automotive wiring harness market. Additionally, the adoption of module, demand for car digitalization and connectivity, and platform strategies adopted by key passenger car manufacturers, such as Volkswagen and General Motors are supporting the growth of the market. Due to strict government regulations for reducing harmful fuel emissions, the demand for hybrid and electric vehicles is increasing. Moreover, the motorization trend has substantially improved the economy of the countries in Asia-Pacific, especially China, which is resulting in the growth of automotive industry, thus leading to increased demand for automotive wiring harness.

Geographical Outlook

The Asia-Pacific market is growing with the highest rate, due to the growing consumer preference for safety features and high-end electronics in the heavy and light vehicles in the countries, such as India and China. The automotive wiring harness market in some countries of North America and Europe is saturated, as safety equipment and high-end electronics are already installed in most of the vehicles in these regions. Whereas, Canada and Mexico are still untapped markets, due to the commissioning of new vehicle assembly plants and increasing vehicle production capacity in the countries.

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Among all the vehicle types, the commercial vehicle and passenger vehicle holds more than three-fourth share of the global market. Additionally, the hybrid vehicle category is expected to lose its share in the coming years, due to higher cost as compared to other vehicle types. Among all the products, the chassis wiring harness is expected to lead the global market in the coming years. The Original equipment manufacturers (OEMs) are focusing to design a light weight and compact wiring harness, which occupies less space in the interfacing of electronics and electrical devices of the vehicle. The global market of automotive wiring harness is also growing due to the increasing need of protection against abrasions and vibrations, compact wiring, and simplicity of operation in managing different electronic devices.

Some of the competitors in the market are Lear Corporation, Furukawa Electric Co. Ltd., Samvardhana Motherson Group, Nexans Autoelectric GmbH, Sumitomo Electric Industries Ltd., YAZAKI Corporation, THB Group Ltd., and Delphi Automotive LLP.

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Virtual Fitting Room Market: New Developments Helps to Grow Market Opportunities & Forecast until 2024

The global virtual fitting room market is expected to witness rapid growth between 2019 and 2024, on account of the growing consumer inclination toward online shopping, increasing demand for personalized experience, rapid shift toward digitization, changing lifestyle of people, and growing adoption of technologies such as augmented reality (AR) and virtual reality (VR).

Based on application, the virtual fitting room market is classified into apparel, beauty and cosmetics, footwear, and others, wherein others include eyewear, jewelry, and watches. Among these, the apparel category is expected to demonstrate the fastest growth in the market during the forecast period.

Increasing adoption of technologies such as AR and VR by large retailers, such as Amazon Inc., Walmart Inc., and eBay Inc., is a major factor driving the virtual fitting room market. The technology adoption in stores is facilitating improved customer interaction and providing customers with a personalized shopping experience.

However, in the online fashion industry, the return rate of apparel is quite high, majorly due to sizing and fit concerns. Virtual fitting rooms are, thus, the solution to this conundrum, as these allow the customers to virtually try on clothes, with advanced technologies facilitating accurate measurements and ensuring a proper fit.

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To provide a convenient shopping experience to the users, online and offline fashion retailers are increasingly introducing virtual fitting room applications, thus supporting the market growth.

Some of the major players operating in the global virtual fitting room market are Zugara Inc., True Fit Corporation, Fit Analytics GmbH, Autumn Rock Limited, Imaginate Software Labs Private Limited, Metail Limited, Else Corp Srl, Fision AG, FXGear Inc., and MemoMi Labs Inc.

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Increasing Shale Gas Extraction Driving Proppant Market Growth

The proppant market is being driven by the rising requirement for frac sand during petroleum extraction and surging use of resin-coated and ceramic proppants for enhancing the well productivity. Revenue of $6,057.0 million was generated by the market in 2017, which is projected to rise to $10,562.9 million by 2023, at a 9.5% CAGR during the forecast period (2018–2023). During oil and gas extraction, fractures are created in the hydrocarbon-containing rocks. Once the pressure is released, proppants, which are solid materials, are used to keep the cracks open. 

When segmented on the basis of type, the market is divided into sand, resin-coated, and ceramic. Among these, the sand division led the proppant market in 2017, in terms of sales volume, with a share of over 85.0%. Sand-based proppants’ low cost and the fact that they are widely preferred by exploration and production (E&P) firms were the reasons behind their dominating position. Even during the forecast, this division is expected to witness the highest CAGR and continue leading the market till 2023. 

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The various categories of the proppant market, on the basis of application, are tight gas, coal-bed methane, shale gas, and others. In 2017, shale gas extraction was the largest category, with more than 50.0% share in terms of value, owing to the heavy usage of proppants during the process. In recent years, shale gas extraction using the hydraulic fracturing technique has risen significantly in North America. With similar growth expected in China, shale gas would continue being the largest category in the market during the forecast period. 

The increase in hydraulic fracturing activities in North America is itself a key proppant market trend. As per the Railroad Commission of Texas (RRC), during January–March 2018, 2,712 shale gas wells were completed in the continent. This was a considerable rise from the 1,925 wells completed between January and March in 2017. Proppants made from sintered high-grade kaolin and bauxite are utilized during hydraulic fracturing for the gas’s extraction, due to their high strength, which is important in the process. 

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With the growth of E&P operations, the demand for frac sand, which is mixed in water during hydraulic fracturing, is also increasing. As frac sand is the least costly of all proppant types, it is popular among oil and gas firms. The Oil & Gas Journal reported that the requirement for cost-effective sand-based proppants, which was 45 million tons in 2016, would surge to 110 million tons in 2018, thereby driving the market. 

Another major driver for the proppant market is the rising usage of resin-coated and ceramic proppants for improving the economics of the wells. Such products are strong and can withstand high stress, of up to 10,000 pounds per square inch, in deep wells. With the increase in the number of oil and gas wells, companies are looking for proppants for multiple-stage fracturing and low-permeability wells. The focus of E&P firms is shifting to deep wells, where high-strength materials are required to keep the fractures open. 

North America has been the largest market for such materials, with a value share of over 70.0% in 2017. It is expected to be the dominant region in the market during the forecast period too, on account of the increasing E&P activities and use of hydraulic fracturing. The recovery in oil prices and higher material loading levels have been driving the oil and gas industry in the continent. During the forecast period, the proppant market is projected to witness the fastest growth in Asia-Pacific (APAC). 

Hence, with the increasing extraction of shale gas, requiring the cracking of deep rocks and then holding those cracks open, the usage of proppants would also rise.

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