Mounted Bearing Market Will Reach USD 2,122.1 Million By 2030

 The estimated value of the worldwide mounted bearing market is approximately USD 1,451.0 million in 2023. Projections indicate a compound annual growth rate (CAGR) of 5.8% from 2024 to 2030, with the market expected to reach USD 2,122.1 million by the year 2030.

This growth of the market can be credited to the utilization of mounted bearings in numerous sectors including the growing demand for particular bearings for the optimization of price, which they offer with their longevity, higher effectiveness, and less maintenance need.

According to the U.S. Department of Agriculture, food & beverage plants generated 16.8% of the sales of manufactured products and 15.4% of the employment in the nation in 2021. Within this expansive ecosystem, the meat processing sector had a 26.2% sales share, the dairy sector 12.8%, beverages 11.3%, other food items 12.4%, and grains and oilseeds another 10.4%.

In the past few years, smart tech and digitalization have arrived in mounted bearings, which are providing profitable opportunities to industry players. AI-based detectors and IoT aid in monitoring the status of such devices at all times, in a very simple way. The detectors can get these components’ speed, rotational direction, vibrations, and temperature, aiding end customers to track their condition and dodge expensive breakdowns.

This can be credited to their versatility, affordability, advanced sealing shielding against lubricant leakage and the arrival of other foreign particles in the casing, performance advancements of the motor, and simple maintenance. Such variants are extensively used in rotary applications to offer low friction and smooth motion.

In 2023, the conveyor category had the largest industry share, of 25%, on the basis of equipment type. This can be credited to the extensive utilization of conveyors in many sectors, such as construction, manufacturing, paper, automotive, and mining & mineral.

The machines utilized in these sectors carry and transfer bulky material with the aid of mechanical or pneumatic approaches. The conveyors utilized in all these sectors require many kinds of bearings, which essentially boosts the development of this category in the industry.

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What Is the Importance of Adhesive Tapes in the Health Care Sector?

Adhesive tapes are a mixture of a material and an adhesive film and are utilized to tie or join things together instead of utilizing welding, fasteners, and screws. Putting on adhesive tapes instead of mechanical fasteners allows you to utilize lower-temperature applications, which can streamline manufacturing procedures.

The adhesive tapes market is experiencing growth and is projected to reach USD 103,040 million by 2030.

Medical Adhesive Tapes

Surgical tape or medical adhesive tape is utilized to attach gauze, bandages, and other dressings to the skin around injuries. The majority of adhesive tapes are pressure-sensitive tape; i.e., tapes that stick and remain in place with steady pressure. There's no requirement for heat initiation or a solvent. Medical adhesive tape can be created from several materials, but most are breathable for ease and simple to utilize.

What Are Adhesive Tapes Made Of?

Adhesive tapes contain a material known as backing or carrier plastic film, paper, cloth, foil, foam, etc., which is covered with glue and a release liner if required. The adhesive-coated backing or carrier is then coiled up to create a long huge roll of tape. The huge roll is then split into narrow-width bands to make several rolls of tape.

Most Popular Kinds of Adhesive Tapes:

Pressure-sensitive adhesives are sticky at room temperature in dry form. They stick firmly to a range of surfaces and need only the function of a finger or hand. PSAs do not need water, solvent, or warmth activation in order to attach to materials including metal, wood, cement, paper, plastic, and glass. The suggested bonding pressure is 14.5 – 29 psi =^ 10 – 20 N/cm².

Heat-activated tape is habitually tack-free till it is stimulated by a heat source. The heat-triggered tape needs time at higher temperatures at 180˚F or advanced to make a bond. Heat-stimulated adhesive enables aggressive tie to complex surfaces including EPDM, rubber, PVC, and PU- based plastic materials. It can be created with diverse carriers that are appropriate for a range of applications.

Water-activated tape, stuck paper tape, or gummed tape is a starch or an animal adhesive-built glue on a kraft paper backing which turns gluey when moisturized. Water-activated tape is low-priced and is utilized for closing and sealing boxes.

Non-adhesive tapes, films, or covers do not have a functional glue mainly due to they are self-adhering. PTFE thread-sealing tape is a kind of non-adhesive tape.

Hence, the main boosting factors in the adhesive tapes industry are the increasing healthcare industry, technological improvements, growing research and development expenditure by industry hulks, and the growth in innovative product launches.

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Automobile Industry To have the Fastest Growth in the Ethyl Acetate Market

In 2021, ethyl acetate market was valued at about $4,415 million, and this will increase to above $8,443 million by 2030, advancing at a growth rate of 8% in the future. This is credited to the increasing use of synthetic solvents for flavouring food products; the snowballing purchase rate of goods like adhesives, nail paint removers, and printing inks, in which the solvent is employed; and the increasing number of infra-activities around the world.

The automobile industry will have the fastest growth in the years to come, proceeding at a growth rate of around 8% in the industry. This can be mainly credited to the factors like the exponentially increasing automobile industry, increasing use of synthetic leather in automobiles, enduring technological progressions, and economic development of OEMs and aftermarket players.

Food & beverage had the largest revenue share, of above 25%, in the year 2021, in the ethyl acetate market and it is further dominate the industry in the future. This is due to the wide use of this chemical in packaged food and beverages, the surging requirement for packaged food, the increasing population around the world, the increasing customer spending, and the increasing product portfolio of prominent market players.

Ethyl acetate is extensively used as a flavouring agent and fragrance to and gives a sweet taste to products like cough syrups, perfumes, soaps, air fresheners, cosmetic products, and mouthwashes. Furthermore, the demand for this chemical has augmented, because of the rising requirement for flavouring agents and perfumes from cosmetic, houseware, and toiletry producers. Also, continuing R&D initiatives including aroma chemicals are helping the industry to grow.

Because of the increasing demand for artificial leather, growing automotive, construction and pharma sector has a lot to do with the growing demand for ethyl acetate across the globe.

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What are Main Factors Responsible for Surge in Global Connected Motorcycle Market?

The rising penetration of sport and luxury bikes in many countries especially the developing nations of APAC and Latin America, Middle East and Africa (LAMEA) is one of the major factors powering the rise in the demand for connected motorcycles. The soaring per capita income and the resultant surge in the purchasing power of the people in the emerging economies across the world such as India and China is pushing the adoption of connected motorcycles.

Technological innovations in automation and big data and the increasing integration of artificial intelligence and internet of things (IoT) in motorcycles for improving road and passenger safety are the other major factors that will boost the popularity of connected motorcycles across the globe. Since the last few years, there has been a huge rise in the popularity of off-road and long-distance biking and this massively increased the probability of fatal motorcycle accidents. As a result, a majority of the motorcycle manufacturing companies have started developing motorcycles equipped with advanced rider-assistance systems and in-motorcycle connectivity devices.

Due to the above-mentioned factors, the global connected motorcycle market is predicted to observe unprecedented growth during the forecast period (2020–2030). The connected motorcycles can be serviced by either the original equipment manufacturers (OEMs) or third-party service providers. Of these, the OEMs-based services are predicted to record higher demand during the forecast period. This is mainly attributed to the fact that the OEMs efficiently analyze all the essential information like riding mode, speed, and parking location and rider behavior and are thus, able to provide personalized services and accurate information about the upcoming maintenance requirements. 

Globally, the Asia-Pacific (APAC) region would see the fastest rise in the adoption of motorcycles equipped with connected systems, during the forecast period. This is mainly ascribed to the rising popularity of these motorcycles in the region. The connected systems and features have already been introduced in the luxury and sport motorcycles and soon, will trickle down to the economy range motorcycles. Moreover, the rapid technological developments in rider assistance systems will propel the adoption of advanced connected systems in motorcycles, thereby fuelling the growth of the connected motorcycle market in the region in the coming years.

Hence, owing to the rising prevalence of road accidents and increasing adoption of advanced automated systems in motorcycles, the demand for connected motorcycles is set to skyrocket across the globe over the next few years.

Source: https://www.psmarketresearch.com/market-analysis/connected-motorcycle-market

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How are Advancements in Technology Fuelling Surge in Global Automotive Sensors Market?

The surging implementation of stringent laws and regulations regarding emission standards and vehicle safety requirements, in several countries across the world, is one of the major factors responsible for the massive growth in the demand for automotive sensors. For instance, multiple European countries have enacted laws which make it mandatory for the vehicles operating there to have driving assistance features, such as advanced emergency braking, tire pressure monitoring, intelligent speed assistance, lane keeping assist, reversing camera or detection system, and attention and drowsiness detection.

The rapid development of advanced sensors, owing to the rising investments in the field, is another major factor fuelling the demand for automotive sensors. Since the last few years, many major automotive companies have been shifting their focus toward the development of advanced sensors. As a result, the global automotive sensors market revenue is expected to increase from $25,723.8 million in 2019 to $58,215.3 million in 2030. The market is further predicted to progress at a CAGR of 7.4% during the forecast period (2020–2030).

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There are various types of sensors installed in vehicles, namely position sensors, pressure sensors, temperature sensors, motion sensors, oxygen sensors, torque sensors, optical sensors, gas sensors, and level sensors. Out of these, position sensors recorded the highest demand in the past, mainly due to their wide-scale use in numerous vehicle parts, such as clutch, brakes, transmission, chassis, and engine, in order to compute the steering wheel position, motor rotor position, pedal position, throttle position, and the positions of valves, knobs, and actuators.

The automotive sensors market is currently witnessing swift technological innovations in the sensors and the automotive industry in general. For instance, these ongoing advancements have resulted in the development of different driver assistance system (ADAS) sensors, such as light detection and ranging (LiDAR), radar, and ultrasonic sensors. In addition to this, the incorporation of sensor fusion in automobiles has witnessed a rising popularity in recent years. For instance, the combination of LiDAR, ultrasonic, radar, and other sensors enhances various ADAS functions, such as obstacle avoidance and cross-traffic assistance, where individual sensors face limitations.

Globally, the highest integration of automotive sensors was witnessed in the Asia-Pacific (APAC) region during the historical period (2015–2019). APAC is also projected to register the fastest growth in demand for these devices during the forecast period. Within APAC, China is the major consumer of such instruments, as it is the largest automobile producer here as well as the world, producing almost half the vehicles around the globe. Additionally, owing to extreme air pollution levels, the transportation system of regional countries is being rapidly electrified, and to achieve it, a lot of sensors have to be integrated in automobiles.

Hence, it is clear that due to the rapid development of advanced automotive technologies, soaring demand for high-end vehicles equipped with modern features, and presence of strict vehicle safety laws in many countries, the demand for automotive sensors is expected to shoot up in the coming years.

Read more: https://www.psmarketresearch.com/market-analysis/automotive-sensors-market

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How is Rising Urban Road Congestion Driving Smart Parking Systems Market?

It is true that the advent of vehicles and numerous advancements in the automobile industry has had countless positive effects, but vehicles these days are also causing a number of problems. As the disposable income of people has increased in various countries, owing a car stopped being a luxury since more than a decade. This has resulted in an alarmingly high number of vehicles on the roads, which further causes road congestion. Unorganized and inadequate parking spaces are also among factors which cause road congestion. As per industry experts, about 30.0% of the traffic congestion is on account of search for parking spaces.

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People violating parking rules and parking their vehicles incorrectly further add to this problem. Because of all these factors, the demand for smart parking systems is growing rapidly. Smart parking basically refers to solutions such as smart parking sensors, counting sensors, or cameras, which are embedded into parking spots in order to detect whether a parking space is free or occupied. The data is collected in real-time and is transmitted to smart parking mobile application that lets the user know about the availability of the space in a parking area. 

The global smart parking systems market is predicted to generate a revenue of $9.1 billion in 2024, from $3.4 billion in 2018, registering a 16.1% CAGR during the forecast period (2019–2024). Smart parking systems help to park a car on both on-street and off-street parking sites. Off-street smart parking systems help in facilitating an easy pay-and-park process for both long and short durations, due to which off-street parking is more in demand. Hardware, service, and software technologies are offered under smart parking solutions.

As smart cities are integrated with all kinds of connected technologies to make things more convenient for people, smart parking systems are bound to be a part of these cities. The major focus of smart cities is to offer managed operations to the residents and connected and advanced transportation facilities are a key component for accomplishing that. Smart parking solutions allow drivers to access real-time information regarding the availability of parking spots, before they set off on their journey. Considering these advantages, the smart parking systems market is expected to grow significantly in the coming years along with the development of smart cities.

Hence, smart parking systems are gaining popularity as they have the ability to tackle the problem of growing traffic on roads.

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