What are the historical size and the present size of the automotive adhesives and sealants market segments and their future potential?

Rising lightweight vehicle demand and growing automobile production are some of the prime factors behind the progress of the automotive adhesives and sealants market. In 2017, the market attained a size of $8,413.7 million, and it is predicted a reach $11,871.6 million by 2023, progressing at a CAGR of 6.0% during the forecast period (2018–2023). Adhesives and sealants are used for different bonding and sealing applications in the automotive industry, whereby they help in enhancing the performance, driving comfort, and safety of vehicles

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The use of adhesives and sealants also helps in improving the safety of automobiles. According to the World Health Organization, about 1.35 million people die due to traffic accidents every year. To deal with factors like this, vehicle safety standards and regulations are becoming stricter worldwide. For example, The European New Car Assessment Programme (Euro NCAP) offers consumers information on the safety of new cars.

The organization provides an independent assessment of the safety level for the cars that are sold in Europe. Initiatives such as this certainly help customers take an informed decision on which model to purchase. Such vigilance is compelling automotive manufacturers to focus on improving the safety level of vehicles. Because adhesives and sealants provide integrity to the bonnet and boot and are capable of absorbing the impact of head-on collisions, their use for manufacturing better, lightweight, and safe vehicles is increasing.

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The use of adhesives and sealants in electric vehicles is quite low owing to their less engine parts. But the rising focus on structural integrity along with the desire to decrease the overall vehicle weight is anticipated to escalate the usage for these materials during the forecast period, thereby resulting in automotive adhesives and sealants sector growth. 

Further, automobile manufacturers are looking for ways to produce the lightest vehicle to maximize the power and speed. Manufacturers are using lightweight materials such as composites, plastics, and aluminum in place of steel for producing auto parts. These materials can’t be bolted or welded to keep the vehicle parts together, and therefore adhesives and sealants are extensively used by the manufacturers. Thus, the surging production and sales of lightweight vehicles is predicted to accelerate the growth of the automotive adhesives and sealants sector during the forecast period.

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Global Sleeping Aids Market is Projected to Grow at a Decent Pace for the Next Few Year

The global sleeping aids market is being driven by the increasing geriatric population, rising prevalence of obstructive sleep apnea (OSA) and insomnia, and expanding healthcare sector. It generated a revenue of $69.5 billion in 2017 and is slated to grow at a CAGR of 6.5% during the forecast period (2018–2023). Sleeping aids are medical devices and drugs that assist a person in falling asleep. Products in the market range from sleep apnea devices and medication to mattresses and pillows, and sleep laboratory devices.

The sleeping aids market is observing the rising popularity of wearable sensors and monitoring devices. Besides recording physiological parameters of a patient’s body, these devices are equipped with sensors that help in measuring the sleep quality and monitoring sleep disorders. These devices have a user-friendly design and do not require any special know-how to operate them, which makes them a popular product among patients suffering from sleep disorders. LifeVest by ZOLL Medical Corporation, BioHarness by BIOPAC Systems Inc., and Zio XT by iRhythm Technologies Inc. are some wearable monitors and sensors.

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In the sleeping aids market, continuous positive airway pressure (CPAP) devices are being increasingly used by sleep apnea patients. These offer uninterrupted sleep to patients by controlling snoring. This device consists of a mask that is attached to a tube, along with a pump. The demand for these devices is increasing due to technological improvements, such as a mask that covers only the nose and use of soft material. CPAP humidifiers, which keep the inside-air moist, are a type of CPAP devices manufactured by companies such as ResMed Inc., Respironics Inc., and Koninklijke Philips N.V.

Governments and various private organizations are now increasingly investing in research and development activities to find a better treatment for sleep disorders. Numerous start-ups working on finding an effective way of controlling and preventing such disorders are being supported by governments of developing and developed nations alike. This has enabled the customers to access tailor-made therapies, sleep monitoring devices, and mobile apps. For instance, Oventus Medical won a $2,950,000 Australian federal government grant in February 2017 for research on sleep apnea.

Hence, the market for sleeping aids is expected to grow because of the above-mentioned factors during the forecast period.

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Eyewear Market Business Global Outlook

The global eyewear market is anticipated to grow in the coming half decade, due to increasing awareness of UV exposure dangers, rising number of visual deficiencies, demand for trendy sunglasses, and optical frames, along with increasing usage of contact lenses by individuals for medical, as well as personal use.

The demand for eyewear has been shifted from actual requirement to desired requirements. Conventionally, eyewear was utilized to overcome the deficiencies of poor eyesight. This increased the usage of spectacles more on the personal front, over using it for physical ailment. Gradually, an individuals’ mindset has changed over a period of time, also the alternate uses of spectacles gave a major push to the global eyewear market.The demand for sunglasses emerges from the increasing consciousness of the ill effects of harmful UV rays, while the inclination of people towards new adopting fashion trends, has contributed to the growth of the global eyewear market. Contemporary innovations and technological advancements have added to the variety and quality of eyewear with an aesthetic appeal and style, making eyewear a personality enhancing accessory.

The global eyewear market is segregated into four divisions geographically: Europe, North America, and Asia-Pacific. The rest of the World remains major sub-divisions of the global eyewear industry. The developed markets of North America and Europe have been traditional revenue generators, in the global eyewear market. North America possesses a major share of total revenue, in terms of aggregate demand of eyewear. Europe leads in terms of summative revenue accumulation, from eyewear sales. Growth prospects from short to medium time period are high in the emerging nations of Asia-Pacific, and Latin America. The Asia-Pacific region is the fastest growing regional market in terms of eyewear sales. It has become the key source of acceleration in the growth of the global eyewear market. The expansion in the eyewear market of Asia-Pacific is attributed to factors, like the presence of unsaturated markets, growing disposable incomes, developing economies, and the increasing awareness of visual ailments and regular eye examinations. Along with this, the increased urbanization in the unsaturated markets of Asia-Pacific, and major changes in lifestyle patterns, with respect to the growing hectic schedule of a modern man, creates ample scope for the growth of the global eyewear market.

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The global eyewear market can be categorized on the basis of functions into spectacles, and contact lenses. Contact lenses are a major medical invention, in the global eyewear industry. This medical advancement has significantly contributed to the global eyewear market. Demand for such novel innovations, are driven by affluent and aesthetic desires of societies. On one hand,the advancement in laser eye surgeries has restricted the growth of the eyewear market. The introduction of contact lenses has served an easy way for people to shun eyeglasses, without the need of laser treatment, thus propelling the growth of the global eyewear market.

Apart from serving visual deficiencies, fashion needs, and protection from UV sunrays, the global eyewear market caters all types of an individual’s needs.

The global eyewear market consists of concentrated international market players, as barriers within the entry are high, thus operating mostly as an oligopoly, with dominance of few large participants. However, there are still unaddressed niches in the eyewear industry making scope for new emerging business models and participants. Major Industry players are Essilor International, Luxottica Group SpA, Carl Zeiss, AG Marcolin S.p.A, and Marchon International Ltd among others.

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Growing Trend for Kick Scooter Market

The global kick scooter market is currently in its nascent phase; however, it is expected to observe notable growth during 2019–2024 on account of the increasing demand for last-mile transportation solutions and the emergence of kick scooter sharing fleets. Megacities across the world are facing issues of pollution and congestion as a result of rapid urbanization. Nearly 45% of the traffic in the U.S. is caused by cars that are used for traveling less than three miles a day, and micromobility solutions, such as kick scooters, can help reduce this snarled-up traffic substantially.

Based on battery type, the market has been categorized into lead acid and lithium-ion (li-ion) kick scooters. Between the two, li-ion kick scooters are expected to witness faster growth in demand during the forecast period. This can be majorly attributed to the advantages of li-ion batteries over lead acid batteries. Li-ion batteries offer more energy density, are compact and lightweight, and hold the charge for a longer time. Furthermore, the falling price of these batteries is propelling their adoption, thus boosting the category growth in the kick scooter market.

The kick scooter market has also been classified into personal, rental, and sharing applications. Of these, kick scooters used in the sharing fleet are projected to witness the fastest growth during the forecast period. Kick scooter sharing service is evolving and is gaining ground across several countries. The service has enabled the users to travel to their destinations without having the need to own vehicles and bear secondary charges, including maintenance, insurance, and parking. Such advantages are expected to boost the demand for these vehicles for sharing services in the near future.

Geographically, Asia-Pacific holds the largest share in the kick scooter market, owing to the major adoption of these vehicles in China. The presence of key electric kick scooter manufacturers, developed electric vehicle value chain, extensive government support for electric vehicles, availability of low-cost batteries, and strong customer base are some of the factors that are boosting the adoption of these vehicles in China, thus driving the market in the APAC region.

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Investments in kick scooter companies are accelerating. The electric kick scooter market is currently at its nascent stage, but is steadily growing with the increase in scooter startups offering kick scooters for sharing purposes. Competition in the market has grown in recent years and so have the investments. For instance, in July 2018, Google Ventures, an Alphabet Inc.’s venture capital division, led a $355 million funding round for Neutron Holdings Inc. (LimeBike).

Some of the major players operating in the industry are Razor USA LLC, Segway Inc. (Ninebot Inc.), Xiaomi Corporation, Shenzhen Xiaobaima Energy Tech Co. Ltd., Ningbo MYWAY Intelligent Technology Co. Ltd., Spin, Skip, Scoot, PopScoot Singapore Pte. Ltd., Tier Mobility GmbH, WIND Mobility, VOI Technology AB, Vogo Automotive Pvt. Ltd., Dott, and LMTS Holding S.C.A.

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Two-Wheeler Hub Motor Market Heating Up

In 2018, the global two-wheeler hub motor market was valued at $4,838.5 million, and it is expected to reach $8,458.7 million by 2024, witnessing a CAGR of 9.8% during 2019–2024. In terms of end use, the demand for the product was the higher in 2018 among OEMs.However, the faster growth in the two-wheeler hub motor market is expected to be witnessed by the aftermarket category. The rising adoption of electric two-wheelers would propel the demand for their components. The lesser lifespan of hub motors compared to that of electric two-wheelers would lead to a greater demand for them in the aftermarket, in the forecast period.

Growing Demand for High-Powered Motors is a Major Trend in the Market

The growing demand for high-powered motors is a key trend being observed in the hub motor market for two-wheeler. Major manufacturers, such as Zero Motorcycles Inc., BMW AG, and Vectrix, are offering electric motorcycles with a motor power more than 30 kW and have announced their plans of launching models of even higher motor power. For instance, in November 2018, Savic Motorcycles, Australia’s first electric motorcycle company, announced that a new electric model, Cafe Racer, with 60 kW motor power, will be launched by 2020. Besides, many OEMs of conventional gasoline-based motorcycles have announced their plans of introducing high-powered electric models in the near future. Thus, the increasing demand for higher-powered motors is one of the major trends being observed in the market.

• The e-scooters and motorcycles category is expected to grow at the higher CAGR in the two-wheeler hub motor market. This is attributed to the rising adoption of these vehicles, fueled by governments’ initiatives in the form of subsidies and incentives.

• <0.5 kW motors are used in most of the e-bikes available in the market. However, in the coming years, the demand for motors with >4 kW power is expected to get a boost, owing to the introduction of more high-powered e-scooters and motorcycles.

• Brushless DC (BLDC) motors have been the most prominent motors in electric two-wheelers, due to various factors such as their long operating life, higher speed capacity, and longer range.

• DC motors were the larger motor architecture category in the two-wheeler hub motor market. This is attributed to their higher starting torque and better speed variation, along with assistance in quick starting, stopping, and reversing. Moreover, DC motors are comparatively easier to maintain than AC motors, which further contributes to their rising popularity.

• The usage of hub motors by OEMs has been higher in the two-wheeler hub motor market. The increasing adoption of electric two-wheelers, especially in public sharing services, has surged the demand for them as well as their components, including hub motors.

Geographical Analysis of Two-Wheeler Hub Motor Market

The APAC region alone held over 95.0% volume share in the two-wheeler hub motor market in 2018. The dominance of the APAC region is mainly attributed to the massive demand for electric two-wheelers in China. Moreover, the Chinese government is actively making efforts to reduce vehicular pollution by implementing restrictions on gasoline-driven vehicles, which majorly contributes to the rapid adoption of electric alternatives. Additionally, Chinese consumers have been receiving cash incentives in the form of subsidies, which is further encouraging them to shift to these vehicles.
Apart from the APAC region, the North American and European regions show promising growth prospects for the two-wheeler hub motor market. The introduction of stringent government norms as well as high environmental concerns have the potential to spur the market growth in these regions.

Competitive Landscape of Two-Wheeler Hub Motor Market

The global two-wheeler hub motor market is highly fragmented in nature. The top five players in the market together accounted for less than 40.0% of the market revenue in 2018. Yadea Technology Group Co. Ltd. was the market leader, followed by Robert Bosch GmbH, Ananda Drive Techniques Co. Ltd., Jiangsu Xinri E-Vehicle Co. Ltd., and Zhejiang Luyuan Electric Vehicle Co. Ltd.

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What is the current scenario of the global automotive tire market?

The global automotive tire market registered revenue of $155.3 billion in 2018, which is expected to reach $237.2 billion by 2024, growing with a CAGR of 7.7% during 2019–2024. In terms of vehicles, the passenger cars category held the largest share in the market during the historical period.
However, the fastest growth in the automotive tire market is projected to be observed by the medium & heavy commercial vehicles category, during the forecast period. This is attributed to the rising demand for these vehicles in the manufacturing industries across the world. For instance, as per the American Trucking Associations (ATA), the U.S. truck transportation volume grew by 4.2% in 2018, owing to the rebound of the manufacturing industry, along with rising economy, in the U.S.

The growing demand for next-generation, high performance tires is a popular trend being witnessed in the automotive tire market, across the world. The mainstream adoption of these tires is encouraging tire makers across the world to invest in new technologies for the development of ultra-high-performance tires to increase the speed and overall performance of the tires. Many manufacturers are developing these tires by employing patented technologies, specialized silica compounds and polymers, and unique tread designs to meet changing consumer demands and achieve desired performance. Moreover, with the increasing demand for automotive tires, various tire manufacturers are producing high-performance tires with season driving abilities, rider comfort, and less tread wear. Thus, the introduction for next-generation, high-performance tires is one of the key trends being seen in the market.

What are the factors impacting the growth of this market?

1. Rising Popularity of Next-Generation, High Performance Tires is an Existing Trend Witnessed in the Market

1. Improved Lifespan of Vehicles is Propelling the Growth of the Market

Geographical Analysis of Automotive Tire Market
Geographically, APAC is expected to continue being the largest market for automotive tires in the coming years. The region comprised over 55% volume share of the market in 2018. The market in the region is primarily driven by increasing automobile production, rising gross domestic product (GDP), and increasing disposable income of people in emerging economies, such as China and India. Further, the North American market is also growing rapidly on account of the growing number of heavy investments (domestic and international) by several manufacturers in recent years.


Some other players, who held significant share in the automotive tire market in 2018, include Sumitomo Rubber Industries Limited, Pirelli & C. S.p.A., Hankook Tire Company Limited, and The Yokohama Rubber Company Limited.

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United State Connected Car Market grow nearly 20.8% by 2023

With the advent of internet of things (IoT) and vehicle-to-vehicle (V2V) connectivity solutions, the connected car market has grown significantly in recent years. Specifically talking about the U.S. connected car market, it generated revenue of $12,354.8 million in 2017 and is expected to reach $37,350.1 million by 2023, witnessing a CAGR of 20.8% during the forecast period (2018–2023).

Connected cars have connectivity equipment that allows them to share content with a range of devices within and outside their environment. V2V connectivity allows wireless transmission of data between motor vehicles using IoT technology. It facilitates the exchange of data, such as vehicle speed and the distance from another vehicle, between connected vehicles on a real-time basis. Thus, the demand for enhanced vehicle connectivity solutions continues to drive the U.S. connected car market growth.

For instance, in 2017, Japan’s DENSO Corporation entered into a partnership with FotoNation, an image recognition technology developer, with the objective of using FotoNation’s technology to improve the performance of its Driver Status Monitor for enhanced driver safety in connected cars. A year later, DENSO acquired a stake in the U.S. start-up, Metawave Corporation, to deploy Metawave’s radar-sensing technology in its automated radar system for connected cars to help detect pedestrians and vehicles on the way.

Although connected cars offer enhanced driving experience, they are vulnerable to security threats. Connected cars solely depend on the internet, and their crucial components are interconnected via a network, which opens doors to a serious threat of hacking. However, original automotive equipment manufacturers are striving to find the solution to counter such threats and improve vehicle safety and security. Thus, the continuous research and development in the field is predicted to drive the growth of the U.S. connected car market.

Hence, it is clear that the nationwide demand for improved road safety along with the advent of advanced technologies is expected to drive the domain’s growth in the coming years...Read More

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