Hybrid Electric Car Puts Tech On Track

The strict government regulations on the emission of carbon dioxide (CO₂) from vehicles and the fall in battery prices are some of the reasons behind the growth of the hybrid electric car market. In 2017, the market generated a revenue of $57,164.8 million, and it is expected to attain a size of $1,38,023.3 million by 2023, progressing at a 16.7% CAGR during the forecast period (2018–2023). Hybrid electric cars use an internal combustion engine (ICE) with a battery, which is charged by converting the kinetic energy produced during braking into electric energy.

On the basis of hybridization, the hybrid electric car market is bifurcated into full and mild. Of these, in 2017 the full bifurcation held a larger revenue share of more than 85.0% in the market, and it is predicted to dominate it during the 2018–2023 period as well. However, mild hybrid cars are predicted to grow faster in the market during the forecast period, especially in developing nations, such as India and China. This growth can be due to the low cost of mild hybrid cars compared to full hybrid variants.

Further the mechanical integration of components and powertrains and properties, such as electric turbocharger, power steering, and air conditioning, at a low cost is easier in mild hybrid cars. A full hybrid car is nearly $2,500–$3,500 costlier than a similar conventional car. Even though a full hybrid car is more fuel-efficient than the mild one, the latter provides a better cost-to-benefit ratio due to its comparatively low upfront cost. Furthermore, the cost-efficient aspect for customers and the time-saving aspect for producers are boosting the growth of the hybrid electric car market.

Furthermore, several initiatives are being taken by the European Commission to ensure a cleaner and greener environment. For instance, it targets to lower CO₂ emissions by 20.0% by 2020 from the levels registered in 2008. Similarly, various nations have proposed motor vehicle carbon emission or fuel efficiency policies. The increasing concern in the light of CO₂ emissions around the globe is wiping out conventional vehicles. These strict emission policies would ultimately raise the price of traditional cars and impel customers and automobile organizations to adopt low-emission hybrid electric vehicles (HEVs).

Geographically, the Asia-Pacific region led the hybrid electric car market in the historical period (2013–2017), wherein it made a revenue contribution of more than 57.0%, and it is expected to maintain its lead in the market till 2021. This is attributed to the rising government incentives, increasing environmental awareness among customers, and strict emission policies in various countries, including Japan, which is a hub for giant hybrid electric vehicle makers, such as Honda, Toyota, Nissan, and Mitsubishi.

Various nations are offering support, such as high-occupancy vehicle lane and emission inspection exemption, to owners of hybrid cars. Further, the electric car battery cost reduced from $1000/kWh to $227/kWh during 2010–2016. During the forecast period, the prices of lithium ion (Li-ion) batteries are predicted to witness a greater fall compared to nickel-metal hydride (NiMH) batteries. As per industry experts, the cost of Li-ion batteries is expected to drop below $120/kWh by 2020, which, in turn, would boost the hybrid electric car market as the price of battery often decides the electric car cost.

Thus, stringent government regulations and a drop in the battery prices are predicted to augment the market growth during 2018–2023.

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Increasing Oil & Gas Production to Drive Metering Pump Market Forward

From $4.2 billion in 2018, the metering pump market is projected to reach $5.6 billion by 2024, advancing at a 6.0% CAGR during the forecast period (2019–2024). Strict government regulations for water treatment and the increasing demand for metering pumps from the oil & gas and chemicals sectors are driving the market.

The metering pump market is observing a high demand for energy-efficient devices. Many industries conduct heavy pumping activities, which result in an increased energy consumption. This contributes heavily in raising the operational costs, to counter which the demand for energy-efficient metering pumps is witnessing a rise.

Metering pumps are devised to move fluids, such as chemicals, water, and solutions, in a precise volume in a specified time at flow rates that are adjustable.

These pumps help reduce the maintenance requirements and energy costs, improve the operational efficiency, and enhance the overall productivity. Therefore, manufacturers are producing energy-efficient pumps, for instance, the IX series launched in 2017 by Walchem. It consists of digitally controlled direct-drive diaphragm pumps equipped with energy saving characteristics.

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The rising demand for such devices from the oil & gas industry is contributing to the growth of metering pump market globally . The requirement for metering pumps in the industry is due to their application in the extraction of natural gas & oil as well as in midstream processes, where the dosing of corrosion inhibitors is carried out.

The increase in crude oil extraction activities by nations such as Russia, Iraq, the U.S., and Saudi Arabia is driving the demand for metering pumps. Among these, in 2018, the largest amount of crude oil was produced in the U.S.

Metering Pump Market Segmentation

Market Segmentation by Type

• Diaphragm
  • Metallic
  •  Polytetrafluoroethylene (PTFE)
• Piston
• Others (Syringe Pumps and Peristaltic Pumps)

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Fully Autonomous Vehicles to Drive German Autonomous Vehicles Market Forward

Around 1.4 million people lose their lives each year due to road accidents, and almost 50 million more people suffer from serious injuries that result in disability, as reported by the World Health Organization. Not only do these injuries cause losses to individuals, they also affect families and nations as a whole. Loss of productivity occurs due to disability of the injured as well as engagement of family members, who take out time to care for the injured. It has been reported that road accidents cost most countries 3% of their gross domestic product.

Taking Germany as a specific example, in 2018, more than 3,200 people were killed due to road crashes, which was approximately 2.7% higher than last year, as per the Federal Statistical Office. Majority of these accidents are attributed to human errors, such as the failure to pay attention on the road while driving, keeping unsafe distance from the vehicle in front, and inappropriate speed. To tackle these, the need for autonomous vehicles is being felt in the country, where systems such as anti-lock braking system, automatic emergency braking, advanced driver-assistance system (ADAS), and adaptive cruise control help drivers journey safely.

A study conducted by P&S Intelligence has predicted the German autonomous vehicles market for fully autonomous variants to grow to $28.0 billion in the near future, witnessing a 20.2% CAGR. An autonomous vehicle is able to drive itself from one point to another without any human interference, in an auto-pilot mode.  This is done using different technologies, such as adaptive cruise control, global positioning system, and radar and lasers, for precise maneuvering on the roads. Autonomous vehicles are primarily of two types — fully and semi-autonomous. In 2018, only the semi-autonomous vehicles were bought, as even though fully autonomous vehicles are in demand, they are still in the development and testing phases and are expected to be available for public use in the coming years, when they would witness the faster growth in demand.

Autonomous vehicles are of the following types, considering what they use as fuel — battery electric vehicle (BEV), internal combustion engine (ICE) vehicle, and hybrid electric vehicle (HEV). Of these, the ICE type were in the highest demand in the past. These vehicles use combustion engines to generate propulsion power and run on fossil fuels, such as gasoline, diesel, and compressed natural gas. However, in the coming time, BEVs are expected to witness the fastest growth in demand due to the growing environmental concerns, stringent vehicular emission norms, and government support to popularize electric vehicles. Further, the growing research and development activities in this domain would continue to add to the demand for battery electric autonomous vehicles in the coming future.

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Coding and Marking System Market Top Manufactures, Market Demands, Segmentation and Key Players Analysis Research Report 2023

The increasing use of coding and marking systems for printing batch numbers, government identification codes, and other details on primary and secondary packaging in industries such as automotive, food & beverages (F&B), healthcare, electronics, and construction is driving the growth of the global coding and marking systems market. In 2017, the market generated a revenue of $3,358.0 million, and it is predicted to exhibit a 6.9% CAGR during the forecast period (2018–2023). These systems provide goods details on the packaging and help in identifying and tracking components through the production process.

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Based on technology, the coding and marking systems market is broadly categorized into continuous inkjet, drop on demand, thermal ink jet, and thermal transfer overprinting. Out of these, in 2017, the continuous inkjet category dominated the market with a revenue contribution of more than 30.0%, and it is anticipated to continue dominating it during the 2018–2023 period. This is ascribed to the several benefits associated with these printers, such as high-speed printing, long operational hours with minimum servicing, cost effectiveness, and the ability to work on any material.

Further, based on end user, the coding and marking systems market is mainly classified into automotive & aerospace, chemical, healthcare, electrical & electronics, and F&B. Among these, in 2017, the F&B classification led the market with a revenue contribution of over 30.0%, and it is predicted to continue leading it during the forecast period. Strict government regulations pertaining to safety and traceability have forced manufacturers to properly put the manufacturing date, ingredient list, nutritional facts, and manufacturer details on the primary and secondary packaging of food products.

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Due to the heavy consumption of packaged food, the F&B industry is the largest market for such systems. The growing sales of packaged foods, fruit juices, bottled water, and tetra milk packets are boosting the F&B sector. As per the 2016 Food Packaging Trends and Advances report by the Association for Packaging and Processing Technologies, the U.S. F&B domain is expected to grow at a CAGR of 2.9% by 2022. In addition, the expanding pharmaceuticals domain is another factor behind the coding and marking systems market growth.

Asia-Pacific held the largest share of the global coding and marking systems market in 2017. The application of coding and marking systems is gaining momentum in the food and beverage industry owing to stringent government regulations, increase in food and beverage, and increase in export of packaged food items. This in turn is driving the growth of the market in the region.

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Electric Bus - The Future of Eco-Friendly Mass Transit?

The electric bus market is growing due to strict government regulations on carbon emissions, declining battery prices, and increasing government support for electric transportation modes. A study by P&S Intelligence estimated that by 2025, the worldwide electric bus (e-bus) sales will stand at 331,327 units, advancing at a 16.6% CAGR during the forecast period 2018–2025. Electric buses are those that either solely run on electric batteries or on a combination of a battery and internal combustion engine.

Segmenting the domain by vehicle type, we get battery electric bus (BEB), hybrid electric bus (HEB), and plug-in hybrid electric bus (PHEB) as the three categories. The BEB category led the electric bus market during the historical period 2013–2017 with more than 75.0% sales volume share, as these produce almost no harmful emission. This is why, this bus type is expected to dominate the market in the future as well.

Similarly, the domain can also be segmented by battery type, wherein lithium nickel manganese cobalt oxide (NMC), lithium iron phosphate (LFP), and others would be the three resulting subdivisions. Among these, the e-buses with LFP batteries registered the highest sales during the historical period, as these batteries are cheaper and safer compared to others. Further, less than 10 m and more than 10 m are the two electric bus market categories based on length. Of these, the less than 10 m bus category registered the higher sales volume (60.0% share) in 2017, as these are preferred by government transport departments.

Since public transit authorities are the major buyers of e-buses, the sale of less 10 m variants has been contributing to the electric bus market growth. Rising concerns about greenhouse gas emissions have led governments in several countries to phase out their gasoline or diesel buses. Public authorities are actively giving grants and funding to encourage the manufacture of e-buses. For example, the Federal Transit Administration under the U.S. Department of Transportation offered a $55 million competitive funding in 2017 for buying or leasing zero or low-emission buses.

Another reason for strong government support for e-buses are increasing crude oil prices. A major chunk of the expenditure of developing countries goes into purchasing crude oil; therefore, to decrease their expenditure, governments are encouraging the adoption of e-buses. Though little costly than conventional buses, e-buses are cost-effective in the long run, as these help save the heavy expenses incurred due to crude oil import. Therefore, their dual importance is expected to take the market toward a bright future.

Declining electric battery costs is as much of significance in the electric bus market growth as government support. There has been a significant increase in battery production, particularly in China, which has led to a considerable decline in battery prices. As almost 40.0% of the bus cost is attributed to its battery, a further reduction in battery prices is expected to affect the market positively. Further, battery manufacturers are working tirelessly to increase the output power in order to give bus customers more value for their money.

Therefore, we see due to their environment-friendliness and cost-effectiveness, e-buses are set to become the future of mass transit.

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Automotive Digital Instrument Cluster Market Displaying Healthy Growth

The growing sales of premium cars, increasing demand for electric vehicles, and rising penetration of in-vehicle safety features are accelerating the growth of the automotive digital instrument cluster market. In 2017, the market generated a revenue of $2,024.6 million, and it is predicted to witness a CAGR of 21.8% during 2018–2023 (forecast period). Automotive digital cluster is a set of instrumentation, which shows information in the digital form instead of the analog one. It is placed on the dashboard in front of the driver behind the steering wheel, and it displays the map, speed, and navigation prompts.

Based on display, the automotive digital instrument cluster market is categorized into organic light-emitting diode (OLED), liquid crystal display (LCD), and thin-film transistor LCD (TFT-LCD). Out of these, the TFT-LCD category made a revenue contribution of more than 60.0% to the market, and it is expected to maintain its dominance during the forecast period. This is mainly ascribed to the surging demand for better displays, globally, and TFT-LCD offers improved image quality in terms of addressability and contrast.

In many countries, due to the rising disposable income, the sales of premium cars are surging. In 2017, Mercedes-Benz car sales rose to 2.29 million units, whereas BMW car sales increased by 4.2%. The global sales of other premium car brands, such as Audi, Volvo Cars, Lexus, Land Rover, and Porsche, augmented by around 5.0% in 2017. Automotive digital instrument clusters are quite costly and at the nascent growth phase, therefore find extensive installation in premium cars. Thus, the rising demand and sales of premium cars are resulting in the market growth.

• Increasing Premium Car Sales Strengthening Automotive Digital Instrument Cluster Market
• Europe reigns as the largest automotive digital instrument cluster market 

Furthermore, the production of electric vehicles is anticipated to be considerable during the 2018–2023 period, as these are a sustainable conveyance system. Due to the growing concerns about increasing fossil fuel prices and rising focus toward greener and cleaner environment and energy conservation, the demand for electric cars is expected to thrive during the forecast period. As these vehicles function on electricity, they are required to display information such as the amount of battery charge left, electricity stored, and expected mileage on current charge that can be easily depicted on digital instrument clusters.

Hence, the growing sales of premium cars and electric vehicles are anticipated to drive the progress of the automotive digital instrument cluster market.. Read More

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Automotive Window and Sealing Systems Market Business Outlook, 2019-2025

The global automotive window and sealing systems market is witnessing growth on account of the growing vehicle manufacturing industry. Continuous efforts by original equipment manufacturers (OEMs) to make vehicles fuel-efficient by using advanced polymers in the manufacture of automotive window and sealing systems is also helping in this regard. According to P&S Intelligence, the market is projected to reach $38.7 billion by 2025, witnessing with a CAGR of 7.6% during the forecast period (2018–2025).

Waist belt seal, glass run channel, roof ditch molding, and hood seal are some commonly used products for sealing individual automobile components. For better understanding, the automotive window and sealing systems market has been segmented by component, material, application, end use, and region. The material segment is further categorized into ethylene propylene diene monomer (EPDM), thermoplastic elastomer (TPE), thermoplastic vulcanizer (TPV), and others. Among these, EPDM held over 85% market share in 2017 in terms of sales volume; however, systems made of TPE and TPV are being increasingly bought owing to their high heat and chemical resistance.

In the past few years, the demand for advanced automotive window and sealing systems has increased due to the rise in vehicle sales. As per a Times of India report dated January 2018, car sales in India crossed the three million mark for the first time in 2017. Furthermore, sales of passenger vehicles grew by 9.2% in 2017, reaching nearly 3.2 million as against 2.9 million in 2016. Globally, light passenger vehicle sales stood at 84.24 million units according to a Business Insider report.

Another trend with respect to the automotive industry has been the worldwide demand for better fuel economy in vehicles. Since industrialization is resulting in environment degradation and subsequent global warming, the results of which are irreversible climate change and uncertain weather conditions, the demand for eco-friendly technology is on the rise. Certain polymers used in automotive window and sealing systems are lightweight, which further reduces the weight and fuel consumption of the vehicle. Thus, with the increasing use of modified polymers by OEMs, the automotive window and sealing systems market is witnessing significant growth globally.

In view of this, electric vehicles are also expected to provide OEMs with a lucrative opportunity for growth. Presently, a considerable number of people are apprehensive about e-cars because of the range limitations of these vehicles. Therefore, manufacturers are working actively towards making these vehicles lightweight to increase their fuel economy and thereby the range. Hence, the growing use automotive window and sealing systems made from lightweight polymers is expected to aid in the automotive window and sealing systems market progress in the near future.

Thus, it can be concluded that the rising demand for fuel-efficient vehicles and growth in the automotive industry are driving the domain globally.

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