Diesel Exhaust Fluid (AdBlue) Market Growth Factors, Applications, Regional Analysis, Key Players and Forecasts

The increasing level of pollution can be viewed as the key factor driving the diesel exhaust fluid (AdBlue) market growth. It is being estimated that the sector will witness a CAGR of 8.8% in the forecast period 2018–2023, generating revenue of over $20,500 million. The sales of heavy-duty vehicles have considerably increased over the last decade and so has the amount of harmful substances discharged into the atmosphere. Thus, concerns over air pollution have impelled governments to form stringent regulations on emissions and encourage the adoption of technologies that help reduce the pollution level.

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Diesel exhaust fluid (DEF) or AdBlue is a composition of 67.5% deionized water and 32.5% urea. It is used to lower nitrogen oxide emissions from the exhaust, which it achieves via selective catalytic reduction. Based on storage solutions, the diesel exhaust fluid (AdBlue) market can be categorized into bulk storage, portable containers, and dispensers. During the historical period 2013–2017, bulk storage registered the highest sales volume, as AdBlue was primarily bought for heavy-duty vehicles, such as trucks, which require a constant supply of the fluid. Thus, a rise in truck sales directly resulted in demand for AdBlue in bulk.

The trend being observed in the diesel exhaust fluid (AdBlue) market suggests an increase in the use of DEF in passenger cars too. Due to growing environmental concerns, even people have started doing their bit to reduce emissions. This is apparent from the fact that historical sales volume and revenue CAGRs of AdBlue for passenger cars were higher than those for heavy-duty vehicles, and this trend is expected to continue during the forecast period as well. As more people adopt this technology for their vehicles, the sales of DEF will increase further.

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Along from logistics companies and individuals, farmers are trying to cut down on emissions. The fact that during the historical period, DEF sales for non-vehicular applications, which include diesel pumps and tractors, grew more than those for vehicular applications, aptly supports this development. To cater to the rising demand for produce in the developing world, North American and European farmers are working toward increasing their yield. This is pushing the demand for diesel pumps and tractors, which, coupled with the need for reduced emissions, is expected to take the diesel exhaust fluid (AdBlue) market forward.

One of the few restraints in the domain growth, however, is the unwillingness of few people toward the adoption of this technology due to its high implementation cost. As it requires installation of additional equipment, such as DEF tanks and pipes, expenses increase substantially. On the bright side, there is a huge untapped diesel exhaust fluid (AdBlue) market in emerging economies, where the problem of air pollution is quite grave and demands immediate actionable measures. Also, owing to rising disposable income, people in these countries can afford the latest technology. Thus, the high future sale of DEF in the developing world is expected to help keep the global market stable.

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Seasonings and Spices Market is projected to report a CAGR of 6.0% between 2018 and 2023

Seasonings and spices market is forecasted to reach $30,412.8 million by 2023, growing at a CAGR of 6.0% during 2018–2023. The growth in the market will be led by the increasing awareness on the medical benefits of spices, the rising demand for ethnic cuisines, and the growing popularity of convenience foods.

Insights on market segments

In terms of product, the seasonings and spices market has been categorized into whole and ground. The whole seasonings and spices market is expected to grow at higher rate over ground, in terms of volume and value, during the forecast period. The faster growth of the segment is due to the convenience of processing whole spices, from both the industrial and the residential perspective.

On the basis of end use, the seasonings and spices industry has been categorized into industrial, food service, and retail. Due to the growing usage of seasonings and spices in food processing industries to meet the consumer demand, the industrial sector is expected to grow at a CAGR of 4.9% and 6.0% in terms of volume and value, respectively, during the forecast period.

Asia-Pacific will remain the largest market during the forecast period

The seasonings and spices market is expected to generate largest revenue in Asia-Pacific, accounting $10,439.6 million in 2017. The market is being driven by factors such as the heavy consumption of seasonings and spices in South Asian countries, growing spice consumption in the Far East, and growth in the seasoning and spice production in the Asian countries.

From supply side, the Asia-Pacific seasonings and spices industry growth is driven by increase in the production of spices in different countries, favorable environment and climatic conditions for spice production, and support from government agencies to increase spice production. For example, in September 2016, the National Bank for Agriculture and Rural Development (NABARD) in India announced its plan to provide financial support to promote 200 farmer producer companies (FPOs) in Tamil Nadu.

Major players launching innovative products to gain a larger market

Key players in the seasonings and spices industry are launching new products to gain a larger market share. For instance, in August 2017, Sleaford Quality Foods Ltd. introduced eight new spices and herbs to its Chef William pot range. Products introduced included yellow mustard seeds, onion powder, celery seeds, and juniper berries. The company further aims to increase its penetration in the food industry by expanding its product portfolio. Similarly, in January 2017, McCormick & Company Incorporated launched new products in the market to bring flavors from across the world to kitchens and grills. Products launched included Korean BBQ marinade mix, Hawaiian woodfire grill marinade, Brazilian steakhouse seasoning, and Cajun hot sauce.

Some of the other key players operating in the seasonings and spices market are Everest Spices, Mahashian Di Hatti Pvt. Ltd., DS Group, Fuchs Group, Paras Spices Pvt. Ltd., Unilever Group, Ajinomoto Group, The British Pepper & Spice Company Limited, Brake Bros Ltd., Jamie Oliver Enterprises Limited, TRS Group, Camstar Herbs Ltd., and Natco Foods Ltd.

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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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