Global Share of Low Speed Electric Vehicle Market to grow nearly 8.2% by 2025

Global LSEV market is projected to reach $68 billion by 2025, the growth of the market is majorly driven by rising environmental awareness and increasing government support, according to P&S Intelligence.

Insights into market segments

On the basis of voltage, the global Low Speed Electric Vehicle market has been categorised into 24V, 36V, 48V, 60V, and 72V. Of these, 48V is the most preferred voltage category due to its preference in electric scooters as it provides an optimal power to price ratio. However, the fastest growth during the forecast period is expected from the 72V category, due to the rising demand for high-speed LSEVs which use this voltage level.

By type of two-wheeler, the LSEV market is categorised into electric scooter, motorcycle, bikes, kick scooter, and mono wheel. Among these, electric bikes held the highest revenue share in the market, valuing over 50% in 2017. Electric scooters can reach top-speeds of 25-50km/hr, and are comfortable for long distance commuting. These characteristics of electric scooters, coupled with their lower price when compared to electric motorcycles, would continue to drive their market growth during the forecast period.

Asia-Pacific is the largest LSEV market

Globally, Asia-Pacific is the largest market for low speed vehicles, followed by North America and Europe. The Asia-Pacific market is led by China, which accounted for the largest share in terms of revenue in 2017, valued at more than 90%. The size of the country, population, technological advancements, and government support in the form of subsidies and regulations have made the country a big LSEV market in the region. China is also the largest exporter of these electric vehicles in the world. However, the fastest growth during the forecast period is expected from India, due to low penetration of LSEVs in the country.

E-bikes is the largest product category in Europe

Europe is the second largest Low Speed Electric Vehicle market in the world. E-bikes account for a majority of electric vehicles sold in the region. The e-bike market in Europe has seen a significant growth during the last few years; Germany, France, and Italy are the largest e-bike markets in the region.

Electric Motorcycles is expected to witness the fastest growth in North America
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E-bikes account for the majority of electric vehicle sales in the North American LSEV market. The markets for kick scooters and mono wheels are at a nascent stage in the region. However, these categories are increasingly being seen as convenient modes of transportation for short trips. In 2018, Bird Rides Inc, a U.S. based start-up firm, raised $100 million funding for shared electric scooter services. The company plans to expand to 50 new cities in the U.S. by the end of 2018.

Competitive Landscape

Some of the major players operating in the LSEV industry are Terra Motors Corporation, Zero Motorcycles Inc., Changzhou Yufeng Vehicle Co. Ltd., Jiangsu Kingbon Vehicle Co. Ltd., Hero Electric Vehicles Pvt. Ltd., Jiangsu East Yonsland Vehicle Manufacturing Co. Ltd., ZHIDOU Electric.

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How will the market drivers, restraints and future opportunities affect the MEA Specialty Chemicals Market dynamics and a subsequent analysis of the associated trends?

The increasing consumption of various types of agrochemicals owing to the advancement of agricultural practices is expected to fuel the Middle East and Africa (MEA) specialty chemicals sector growth. Agriculture is a dominant niche considering economic output and also a prominent income source in African nations. Agrochemicals are used for improving the soil fertility and preventing crop damage, mainly from weed growth and pests. 

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Further, major oil-producing nations, such as Nigeria, Saudi Arabia, and Iran, are engaging in the oilfield expansion in order to meet the rising requirement for the commodity, thereby resulting in significant growth of the sector. The MEA specialty chemicals market is witnessing rapid consolidation due to increasing merger and acquisition activities. For instance, in 2017, Saudi Basic Industries Corporation declared that it was focusing on nearly $6.0 billion business acquisition opportunities in specialty chemicals, petrochemicals, and fertilizers domains.

MEA has some of the largest oil producing countries in the world, namely, Saudi Arabia, Nigeria, and Algeria. These countries are also among the largest exporters of crude oil in the world and would continue to invest in the exploration and development of new oil fields. Owing to this, the demand for specialty chemicals used in oil fields is expected to rise in the region. Also, rising demand for specialty chemicals in the production of automotive lubricants is also expected to boost the MEA specialty chemicals market during the coming years.

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The demand for the product in the developed countries of the region has reached the maturity stage, owing to the saturate demand from end user industries. However, the demand of specialty chemicals in developing countries, particularly in African nations, has witnessed a rapid rise in recent years, mainly from the agriculture, electronics, and construction sectors. This allows the manufacturers to tap the potential in these developing countries and offers high growth opportunities for the MEA specialty chemicals market.

Specialty chemicals are also known as performance chemicals. They are used as ingredients in the manufacturing processes of consumer and industrial goods. These are low volume chemical products, which add significant value to different products. These chemicals can be used for producing a variety of products, including detergents, paints, electronics, and petroleum products.

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Steady Growth Predicted for Structured Cabling Market Globally

The global structured cabling market generated revenue of $7669.8 million in 2017 and is expected to witness a CAGR of 5.5% during forecast period (2018–2023). Advancements in information technology (IT) are positively influencing the growth of the market.

Business enterprises are actively optimizing their IT infrastructure by adopting more efficient solutions, including structured cabling. It is a network that handles information in the form of data, voice, and videos, and can even manage complex building management systems easily.

Structured cabling offers a simple approach to manage systems with complex data transfer routes via transmission solutions that enable users to send data, voice, and signals in a manner, helping them make the most of the data transfer rate. The structured cabling market is huge and has diverse areas of growth.

Usually, the copper cables used in structured cabling are shielded twisted pair (STP), foil screened twisted pair (FTP), and unshielded twisted pair (UTP) type. In 2017, copper cable and copper components jointly held the major revenue share (60.0%) in the structured cabling market.

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Product, wire category, application, end use, and region are the segments of the market that allow for a better understanding of the domain. On the basis of product, the market is divided into copper cable, copper components, fiber cable, and fiber components.

The increase in the number of internet users and rapid adoption of digital services have led to an exponential increase in the volume of sensitive data collected by organizations. Here, structured cabling provides the facility of data transfer at a higher speed, which is aiding the structured cabling market growth.

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Expanding Cement Industry Aiding the Liquid and Air Filter Bags Market Growth

Increasing disposable income, stringent government policies, expanding cement manufacturing and mining industries, and rising environmental standards on water and air pollution are the key factors driving the growth of the liquid and air filter bags market. In 2017, the market generated a revenue of $4,220.2 million, and it is predicted to attain a size of $6,144.9 million by 2023, advancing at a CAGR of 6.5% during the forecast period (2018–2023), according to P&S Intelligence. Liquid and air filter bags are used in the filtration and removal of solids from liquids and gases.

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On the basis of type, the liquid and air filter bags market is bifurcated into air and liquid. Of these, in 2017, the liquid filter bag type contributed more than 70.0% revenue to the market. Liquid filter bags are used in the filtration or removal of solids from liquids in areas such as adhesives, resins chemical, oils, bitumen, petroleum, food, paper, and water treatment. Hence, due to the wide range of applications, this type is expected to maintain its lead during the forecast period.

Based on bag size, the liquid and air filter bags market is classified into 7OD*32’’, 7OD*17’’, 4OD*14’’, and 4OD*8’’. In 2017, out of these, the 7OD*32’’ classification held the largest share of 30.0% in terms of sales volume and is predicted to dominate the market during the 2018–2023 period. This is ascribed to the amazing chemical compatibility, superior product quality, and cost-efficiency of such long filter bags over other bags. 

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On the basis of end user, the liquid and air filter bags market is categorized into mining, steel and power, water treatment, chemicals and pharmaceuticals, cement, and others. Among these, in 2017, the chemicals and pharmaceuticals category contributed more than 31.0% revenue to the market. In this sector, liquid and air filter bags are widely adopted for removing dust and other unwanted foreign substances from the equipment machinery. This is why this end user is predicted to hold the largest share in the market during the forecast period.

Further, the demand for air and liquid filter bags from the mining industry and cement manufacturing facilities is growing. With the rise in infrastructure activities across the globe, there has been an increase in the setting up of mining and cement manufacturing industries. These industries use filter bags as a medium for removing the dust particles from the components, which are ultimately expelled into the air via chimneys during manufacturing process.

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The government of various countries have started formulating regulations, such as the NESHAP (National Emission Standards for Hazardous Air Pollutants) in the U.S., for controlling harmful pollutants. Under this, manufacturing plants are required to attach filter bags on the equipment. If, in case the facility fails to follow the policies, it might be closed down. Thus, the rising adoption of the filtration process in the cement manufacturing and mining sector is boosting the liquid and air filter bags market growth.

Besides, the increasing usage of these bags in the pharmaceutical domain during processes such as filtration of gelatins, purification of carbon, and recovery of active ingredients, is expected to create immense opportunities for the players operating in the liquid and air filter bags during the forecast period. Another industry where these bags are used in huge amounts is automotive, with manufacturers attaching these to the engines of cars to protect them from harmful particles.

Hence, the expanding cement manufacturing and mining industries and rising adoption of these bags in pharmaceutical and automotive domains are strengthening the the market.

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Digital Health Market is Predicted Substantial Growth at a CAGR of 21.1% During Forecast Period

Smartphones, tablets, and other internet platforms are the epitomes of innovation in the world. Over the last five years (2013–2017), there has been an exponential increase in the use of smartphones and tablets. The innovations have greatly helped sectors such as education, transportation, business, and healthcare reach the masses. Digitization of healthcare has considerably improved the doctor–patient interaction, thereby leading to the growth of the digital health sector.

Offering an insight into the scenario, P&S Intelligence has predicted substantial growth in the global digital health market at a CAGR of 21.1% during 2018–2023. Digital health refers to the integration of information technology into healthcare services. Individuals, hospitals, and clinics are the end-users of digital healthcare solutions. Among these, individuals are expected to constitute the largest end-user base globally, progressing at a CAGR of 21.9% during the forecast period.

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Smartphones and other technologies have made a major contribution to the growth of the digital health market. According to a European Union press release, among all devices, smartphones were the preferred platform to access the internet in 2016, accounting for over 79% of all internet users. With advancements in technology, the adoption of the latest mobile applications in healthcare has increased considerably. Apart from smartphones, the progress of the digital health market can be credited to the use of tablets and other internet platforms, such as desktops and laptops.

Telemedicine, mHealth, electronic health records (EHRs), and healthcare analytics are the various divisions of the technology segment of the domain. Of these, mhealth had the largest share, of 31.5%, in the market during the historical period, and it is expected to register 33.5% CAGR during the forecast period. Government initiatives toward the implementation of mhealth and rising awareness about its advanced applications have driven the digital health market growth to a great extent.

Some of the other key players in the digital health industry are Qualcomm Incorporated, Cerner Corporation, eClinicalWorks LLC, Epic Systems Corporation, McKesson Corporation, athenahealth Inc., General Electric Company, Koninklijke Philips N.V., Cisco Systems Inc., and AT&T Inc.

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Increasing Infrastructure Development to Drive Chiller Market

The chiller market is witnessing swift growth due to the heavy requirement for cooling equipment in industrial settings, increasing global temperature, and surging construction activities. From valuing $7.1 billion in 2018, the market is expected to reach $9.5 billion by 2024, advancing at a 4.9% CAGR during the forecast period (2019–2024).

A compressor-based machine that takes away heat from liquids through an absorption–refrigeration cycle or vapor compression is referred to as a chiller. It generates chilled water, which is then mainly used to cool large facilities.

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The key trend in the chiller market is the growing popularity of R32 models. R32 is a type of refrigerant, which offers enhanced operational efficiency as compared to the R22 refrigerant. R32 chillers consume about 10.0% less energy and also help in reducing greenhouse gas emissions due to their extremely low global warming potential as compared to R410A and R22 chillers.

It is caused due to the increased absorption of infrared energy by the atmosphere, resulting in high temperatures. The National Aeronautics and Space Administration reported that in 2017, the average global temperature was 0.90^O C higher than the average temperature during 1951–1980.

One of the major drivers for the growth of the chiller market is the increasing temperatures across the globe. The excessive use of chlorofluorocarbons and burning of fossil fuels lead to the accumulation of greenhouse gases, such as methane and carbon dioxide, in the environment, which leads to the phenomenon of global warming.

Johnson Controls International PLC, Samsung Electronics Co. Ltd., Ingersoll-Rand plc, United Technologies Corporation, Daikin Industries Ltd., Gree Electric Appliances, Inc. of Zhuhai, Zamil Air Conditioners, Thermax Limited, Mitsubishi Electric Corporation, Petra Engineering Industries Co, S.K.M Air Conditioning LLC, and Danfoss A/S are some the key players in the global chiller market.

Chiller Market Segmentation

Market Segmentation by Product

• Screw
  • Water-cooled
  • Air-cooled
• Centrifugal
• Scroll
  • Water-cooled
  • Air-cooled
• Absorption
  • Direct-fired
  • Hot water
  • Steam
• Reciprocating
  • Water-cooled
  • Air-cooled

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Mattress Market is Gaining Interest of Consumers across the Globe

Global mattress market is forecasted to attain the value of $38,976 Million by 2023, According to P&S Intelligence.

The market has been witnessing robust growth, mainly due to the factors, such as growing disposable income, increasing population and rising migration from rural to urban areas.

Insight on Market Segments

Based on product, the market has been categorized into innerspring, memory foam, latex and others, wherein ‘others’ include hybrid, gel-type, water-type, air-type mattresses. The innerspring mattress is the most popular mattress type globally, accounting for over 33% of volume sales in the mattress market. Furthermore, with growing awareness among consumers regarding health, mattresses such as memory foam, which conforms to the user’s body and helps in relieving body stress and muscle pains, the demand for memory foam mattress is expected to grow significantly, during the forecast period.

Europe mattress market is projected to register the fastest growth

During the forecast period, the mattress market is projected to record the fastest growth in Europe. The growth can be accounted to increasing purchasing power of people leading to increasing spend on home furnishing. Moreover, with increasing awareness among people about the harmful effects of chemical-based mattress, the demand for eco-friendly mattresses is on the rise, further leading to high growth in demand for latex mattresses.

Rising disposable income is the primary driving force for the mattress market

The growing disposable income coupled with various government policies related to real estate has resulted in rise in home ownership rate, which in turn is supporting mattress market growth. According to Organization for Economic Co-operation and Development (OECD), the average annual growth rate of disposable income has been over 2% globally and various government policies have led to affordable housing, a basic need for human being according to Maslow’s theory for hierarchy of needs.

Growing health awareness among consumers is set to offer remunerative opportunities for the market players

The growing health awareness among consumers has been propelling the demand for daily-use products like mattresses. With increasing disposable income, consumers are willing to pay extra amount for health-enhancing products. The sleep quality is becoming significant in the developed countries, thus leading to increasing adoption of premium mattresses. On the other hand, their Asian counterparts are increasing their mattress budget to use technologically advanced mattresses, as compared to traditional cotton-filler mattresses. These factors are posing lucrative opportunities for market players in mattress market.

Some of the key players operating in the mattress market are Spring Air International, Kingsdown Inc, Sleep Number Corporation, Simmons Bedding Company LLC, Tempur Sealy International Inc, Serta Inc, Relyon Limited, Southerland Inc, Corsicana Mattress Company, and McRoskey Mattress Company.

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