How is Rising Need for Advanced Tires Driving European Automotive Tire Market?

In the present scenario, vehicles have a lifespan ranging between 11.1 and 12 years; the life span rose from 10.5 years in 2015 to 12 years in 2018. This has happened due to technological advancements, increasing government regulations, and growing competition between automakers. These factors have resulted in the improvement of the vehicle’s reliability and longevity over the years. This, in turn, has also led to people buying more small crossover vehicles and keeping their old vehicles longer than before, all across the world, including Europe. In addition to all this, the mileage of vehicles has increased significantly, due to which the chances of wear and tear of the tires have also risen. All these factors are driving the demand for tires in Europe.

In 2018, the European automotive tire market generated revenue of $20,037.8 million and is expected to witness a CAGR of 4.5% in the coming years. The tires for several types of vehicles are categorized into two types on the basis of design: radial and bias. The configuration of radial tires comprises overlapping steel belts under the tread and perpendicular polyester plies, which offer high integrity, ensure longer life, and facilitate smoother rides. Bias tires consist of internally crisscrossed nylon cord plies at a 30-to-45-degree angle to the tread center line, providing the tire with a rugged and tough build, in addition to increasing the sidewall puncture resistance. The demand for radial tires was more during 2014–2018 and is projected to increase significantly in the near future as well.
Due to the changing consumer preference in the European region, the need for advanced tires is increasing. The major qualities required in a tire presently are low rolling resistance for improved fuel efficiency, low wear and tear for enhanced tire durability, and better grip for increased safety quotient. In order to cater to these requirements, the automotive tire industry is witnessing the development and innovation of advanced products. For example, the speed and reliability of the tires have enhanced with the development of ultra-high-performance tires.

What are the factors impacting the growth of this market?

1. High tire replacement rate is a major driver observed in the European automotive tire market

2. Private labeling of tires offers ample opportunities in the European automotive tire market

High tire replacement rate has led to the growth of the European automotive tire market. Due to various technological advancements in recent years, average lifespan of vehicles has significantly increased. The average lifespan of the vehicles increased from 10.5 years in 2015 to 12 years in 2018. Factors such as growing competition among automakers and rising government regulations have led to the improvement of the vehicle’s longevity and reliability over the years.

Private labeling in the European automotive tire market offers various growth opportunities to tire manufactures. Private labeling primarily means production of tires by one company, followed by their sales under the brand of another company. Some of the tire manufacturers are involved in private labeling to meet the market demand for their products and optimize their bottom-line profits, with selling tires at high margins at high volumes. Few OEMs also maximize their production capacity by adding private labeling to their operations, which is carried out under the supervision of experts with extensive experience in manufacturing similar products. It helps them to focus on brand management, while stressing little about issues pertaining to manufacturing operations.

The field of tire manufacturing has been witnessing several advancements, such as the development of new elastomers and polymers, for overcoming the shortage and fluctuation of the prices of natural rubber. Some of the other advancements include the usage of improved grades of silica, nanotechnology, carbon black and nanocellulose, reinforced filler technology, and dual fillers.

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European automotive tire market was consolidated in nature
The European automotive tire market was consolidated with four major players, namely Compagnie Générale des Établissements Michelin, Bridgestone Europe NV/SA, The Goodyear Tire & Rubber Company, and Continental AG, together accounted for over 70% of the market share in 2018. Compagnie Générale des Établissements Michelin is the largest player in the market, due to the existence of an extensive dealer network across all European countries as well as the presence of a loyal customer base in France. The other major players operating in the market are Cooper Tire & Rubber Company, Pirelli & C. S.p.A., Yokohama Tire Corporation, Hankook Tire Company Limited, Nokian Renkaat Oyj, Apollo Tyres Limited, and Sumitomo Rubber Industries Limited.

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Advancements in Technology Augmenting Molecular Cytogenetics Market Growth

The global molecular cytogenetics market accumulated $1.8 billion revenue in 2017, and it is projected to attain a CAGR of 9.9% during the forecast period (2018–2023). The increasing popularity of pharmacogenomics in drug development and personalized disease management, advancements in cytogenetic techniques, and employment of these techniques in detecting chromosomal abnormalities are influencing the market growth. With the growing number of cytogenetic abnormalities, cases of cancer, and drugs becoming redundant in the treatment of diseases, a more robust technique is needed for determining the cause of and managing such conditions.

Molecular cytogenetics is the branch of genetics that deals with the study of chromosomal structure, its location and function within a cell, and the detection of genetic diseases. It utilizes techniques such as comparative genomic hybridization (CGH), fluorescence in situ hybridization (FISH), immunohistochemistry (IHC), and karyotyping in various applications of biology and medicine. The market is segmented by technology, application, end-user, geography, and offering. On the basis of technology, the market is subdivided into FISH, IHC, CGH, karyotyping, and others. The market for FISH is expected to grow at a CAGR of 10.1% during the forecast period.

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The CGH subdivision is further classified into standard CGH and array-based CGH, of which array-based CGH held 55.4% share in the molecular cytogenetics market in 2017. In the application segment, the market has genetic disorders, cancer, and personalized medicine as its categories. In 2017, cancer was the largest application of molecular cytogenetics, accumulating a market share of 41.9%. This is credited to the increasing prevalence of cancer and the growing focus of research groups on developing diagnostic tools for it and other genetic disorders.

The global molecular cytogenetics market is being driven by a number of factors, one being the rising cases of cancer. Cancer as a disease involves numerous mutations, which are either disease-specific or could vary from one individual to another. Molecular cytogenetics techniques such as single nucleotide polymorphism (SNP), CGH, FISH, and genomic expression profiling are not only helping researchers in identifying cancer-specific biomarkers, but are also helping doctors in providing better diagnosis, prognosis and treatment to patients.

Secondly, the advancements in molecular cytogenetic techniques have revolutionized the field of diagnostics. The automation of the cytogenetic analysis process has played a major role in the development of molecular cytogenetics by reducing manual involvement and increasing cost and time-effectiveness. Reduced manual handling of such processes has minimized the risk of errors, thus providing accurate results. It is further predicted to present the possibility of widening the range of molecular cytogenetic testing, hence increase the scope of the molecular cytogenetics market during the forecast period.

Thus, the market is set to grow during the forecast period owing to the advancements in technology in the field of biology and medicine. 

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Carsharing Market Revenue and Industry Expansion Strategies

The carsharing market generated a revenue of $5,571.2 million in 2018 and is estimated to progress at a CAGR of 11.0% during the forecast period (2019–2025), owing to advancements in technology, which are helping make the access to shared mobility services easy. The growing demand for convenient and cost-effective mobility services, coupled with government policies encouraging the use of carsharing programs, is the key factor driving the growth of the market. In simple terms, carsharing is a short–term rental service offered to customers at a certain charge.

Based on car type, the global carsharing market is categorized into luxury, executive, and economy cars. Among these, in 2018, in terms of volume, the economy category held the largest share in the market. This is attributed to the high fuel economy of these cars, which stimulates their demand for carsharing services. Furthermore, the rising gasoline prices and increasing environmental concerns are expected to push the demand for these cars across the globe in the coming years, as these cause less impact on the environment and are cost-effective.

Further, on the basis of fuel type, the global carsharing market is bifurcated into fuel-based and electric cars. Of these, in terms of volume, fuel-based cars dominated the market in the historical period (2014–2018) and are further projected to continue leading it with more than 95.0% share in 2025. However, growing initiatives toward vehicle electrification and environment protection are predicted to result in decreased gasoline usage during the forecast period. In addition, owing to low maintenance cost, electric cars are anticipated to observe increased adoption in the market for carsharing.

Carsharing services are extremely useful for the general public, especially for daily commuters, as without owning and maintaining cars, they can reach their destination. For users, these services are available day and night throughout the year, allowing them to use a car from anywhere, anytime. Besides, with the help of the carsharing company’s mobile app, commuters can directly avail the services and easily rent the car of their choice. The apps offer the necessary details and every assistance to users, so that they have a good commuting experience. Hence, mobile apps, providing easy access to cars as well as all the information related to the service, are taking the carsharing market ahead.

Introduction of mobility as a service observed as a key trend in the market

Furthermore, carsharing helps save the expenditure on owned cars, fuel, maintenance, parking, and insurance. Carsharing services require users to pay only on the basis of the time and distance the car is being driven for, along with an initial registration cost. Also, other expenses, such as those for maintenance, insurance and fuel, are borne by the carsharing service providers. Due to benefits associated with sharing services, such as cost-efficiency and easy availability, the global carsharing market is expected to grow.

Hence, with the increasing inclination of people toward convenient mobility services, the global market for carsharing is witnessing a boost.

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Electric Bike Market Trend in North America Region- Regional Outlook, 2015–2024

The North American electric scooters and motorcycles market is likely to reach $675.7 million by 2024, with a CAGR of 28.4%, according to P&S Intelligence.

Emergence of electric scooter sharing fleet, government policies and incentives, development in battery technology, and low maintenance cost are the key factors driving the growth of the market.

Emergence of electric scooter sharing fleet is responsible for the growth of the North American electric bike and scooter market. Many new sharing service providers have started to deploy electric scooters and kick scooters in their fleet. Further, the      availability of smart charging stations and application of these vehicles in food and beverages delivery services are opening up new opportunity for the growth in the market.

Insights into market segments

On the basis of battery, the North American electric scooters and motorcycles market is categorized into lead acid- and li-ion-based electric scooters and motorcycles. Of these, the li-ion battery-based electric scooters and motorcycles dominated the market during the historical period and is expected to continue dominating the market during the forecast period. Falling prices of li-ion batteries, coupled with their inherent advantages such as lightweight, small size, high energy density, low maintenance, and low self-discharge over other batteries are expected to benefit the market during the forecast period.

Based on application, the North American electric scooters and motorcycles market is classified into sharing services, food and grocery, and personal users. Among these, sharing service application is expected to be the largest category during the forecast period. This is because the sharing service makes customers free from hassles involved in owning their own vehicles and it offers easy commuting for short distances.

What are the factors impacting the growth of this market?

1. Favorable government incentives and federal tax credits are a major driver in the market

1. High purchase cost of the vehicle is a major restraining factor in the market

Growing importance for environment-friendly transportation systems in order to reduce greenhouse gas (GHG) emissions is one of the major factors enabling governments to support the sales of electric scooters and motorcycles. The support is provided by offering several incentives and tax credits to customers at the time of purchase of these vehicles, which trigger the growth of the North American electric scooters and motorcycles market. Selected regions, states, and cities provide incentives for buying electric motorcycles. For instance, in 2017, the Government of California offered 10% federal tax credit for the purchase of electric motorcycle, up to $2,500, in that year. Also, Clean Vehicle Rebate Project (CVRP) promotes adoption of clean vehicles in California by providing rebates of up to $900 for the purchase of electric motorcycle in the state.

The U.S. stands as larger market for electric scooters and motorcycles in North America

The U.S. was larger market for these vehicles, in terms of volume, contributing close to 85% share to the North American electric scooters and motorcycles market in 2018. Factors driving the growth of the market in the U.S. are faster adoption of electric vehicles (EVs) in the country, support by the government in form of financial and non-financial incentives for the procurement of these vehicles, and high commuter base.

Market Competitive landscape

The major players operating in the market are KTM North America Inc., Razor USA LLC, Segway Inc., TORROT ELECTRIC EUROPA S.A., Zero Motorcycles Inc., Mahindra GenZe, Energica Motor Company S.p.A., and Alta Motors. 

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How are Rising Food Safety Concerns Driving Mass Spectrometry Market?

Food quality and safety is a vital public health issue, and it has become a major concern for people these days due to the presence of chemicals, toxins, and pathogens in food. As per the University of Rhode Island Department of Food Safety Education, about 33 million people fall ill because of foodborne illnesses every year in North America. Food contamination can originate from various sources, for example food safety is affected by the quality of water that is utilized in the processing and production of food. For maintaining the quality and safety of food, the presence of required microorganisms and the ones which may lead to spoilage in food is mandatory. Hence, food companies and government authorities use various analytical techniques for monitoring contamination to detect and mitigate risks. Due to this, the demand for microbial identification devices, specifically those based on mass spectroscopy, is increasing, as this technique provides a versatile approach in testing food samples along with both qualitative and quantitative data.

Mass spectrometry technique is utilized to quantify and identify molecules in complex and simple mixtures. The identification and ascertainment are done by separating the ions based on their mass to charge ratio which is measured by making use of a mass spectrum. As per a study conducted by the P&S Intelligence, the global mass spectrometry market reached a value of $4,948.3 million in 2015 and is predicted to register a CAGR of 8.1% in the coming years. Various applications of mass spectrometry include proteomics, clinical testing, environmental research, and drug discovery and development. Among all these, mass spectrometry was utilized the most for drug discovery & development during 2012–2015, as it helps in determining the structure of metabolites and drugs. The fastest growth in demand is expected to be witnessed by the application of proteomics.

The usage of mass spectrometry in the life sciences and clinical analysis sectors is increasing considerably. Some of the key applications of this technology in these sectors include the determination of protein structure, monitoring of enzyme reactions, protein digestion, interactions and folding, identification of the protein from the peptide mass, forensic analysis, absolute or relative quantification of proteins in a given sample, and disease biomarkers detection. These applications are of vital significance in the fields of clinical analysis and life sciences, and the requirement for mass spectrometry for them is growing because of the increasing cases of drug abuse, rising healthcare awareness, advanced research and development, and high number of metabolic diseases.

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Mass Spectrometry Market Competitive Landscape

Danaher Corporation, Shimadzu Corporation, Thermo Fisher Scientific Inc., Bruker Corporation, Agilent Technologies Inc., Waters Corporation, PerkinElmer Inc., LECO Corporation, Dani Instruments S.p.A, Protea Biosciences Group Inc., Microsaic Systems PLC, Endress+Hauser Inc., Jeol USA Inc., and Elico Ltd. are some major players operating in the global mass spectrometry market.

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How Connected Car is Revolutionizing the Automotive Industry

Since the advent of internet of things (IoT), the connected car market has witnessed tremendous growth around the world. Valued at $51,910.9 million in 2017, it is projected to reach $156,145.9 million by 2023. Automobile manufacturers, software vendors, telecom operators, consumer electronics companies — the types of firms interested in and utilizing this product are diverse. Since many technologies in the automotive industry are based on IoT, it has become the predominant factor in the growth of the domain.

A connected car is one that can assess and optimize its own operations with the help of artificial intelligence (AI). Internet-based processes like navigation, telematics, and infotainment permit the car to share content with people and devices within it and outside. By keeping passengers connected on the road, it offers convenience, comfort, performance, safety, and security. A rise in demand for connectivity solutions, increase in dependency on technology, and surge in tech-savvy population are driving the growth of the connected car market.

Currently, North America leads the connected car market in terms of revenue generation. The Asia-Pacific (APAC) region is expected to witness the highest CAGR during 2018–2023. Among all the connectivity technologies available in the market, viz. 4G/LTE, 3G and 2G, 4G/LTE was utilized the most during 2013–2017, and it is expected to hold the largest revenue share during the forecast period (2018–2023) as well.

IoT services have become an integral part of connected cars that work on AI. AI will further take the connected car sector forward as automobile manufacturers will integrate it even more in vehicle infotainment systems that serve as virtual personal assistants with the ability to reply to voice commands and proactively guide the driver with the help of navigation.

The major restraint in the connected car market growth is the lack of infrastructure, which primarily comprises high-speed internet network required to support navigation and infotainment. Only a few developed countries of the world have the infrastructure to sustain this market. However, as digital advancement across the world increases, so will the development and availability of such technology, leading to a bright prospect for the domain.

A vast growth potential for connected car industry players lies in developing economies, such as India, Indonesia, China. As the living standard in these countries continues to increase due to the rise in disposable income, people’s spending on products such as connected cars, which utilize state-of-the-art technology, is growing.

Considering the integration of AI-based IoT in cars and increase in the availability of 4G/LTE technology, the sector is expected to witness a bright future ahead..Read More

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Need for Automotive Safety Technology to Drive The Automotive Radar Market

Strict government regulations regarding vehicle safety owing to the increasing incidence of accidents, and rising premium car sales are driving the global automotive radar market. A revenue of $3,023.0 million was generated by the market in 2017, and it is expected to advance at a CAGR of 21.0% during the forecast period (2017–2023). Headway sensors that are used to detect the presence of objects and other vehicles in proximity are termed as automotive radars.

The automotive radar market is being positively impacted by the rising vehicle production and sales. The increasing vehicle production is influenced by advancements in technology and growing consumer demand. As per Organisation Internationale des Constructeurs d'Automobiles figures, vehicle production grew by 4.5% in 2016 compared to 2015 and reached around 95 million units. With the implementation of safety regulations, the advanced driver assistance system (ADAS) is being increasingly integrated in vehicles. Automotive radars are an essential part of these systems, therefore the surging ADAS adoption is supporting the growth of the market.

Another contributing factor in the automotive radar market is the increasing focus on vehicle safety systems. The World Health Organization reported that 20 to 50 million people are injured and about 1.24 million lose their lives in road accidents each year. By 2030, road accidents could be the seventh-leading cause of death worldwide if this situation persists. This is leading to the inclusion of active safety features in vehicles that utilize automotive radars, thereby minimizing the chances of human error and helping avoid collisions and accidents.

In 2017, Europe was the largest revenue generator with a contribution of more than 35.0% in the automotive radar market. In the same year, it held about 26.0% share of the total cars produced, globally. The European Commission guidelines for vehicle safety standards are followed religiously in the region. Besides improving passenger and driver safety, these guidelines also focus on improving pedestrian safety. The European automotive market is expected to be driven by the presence of key luxury car makers, such as Audi AG, BMW AG, and Daimler AG.

However, due to the rising disposable income in growing economies, such as China and India, Asia-Pacific (APAC) is predicted to be the fastest growing market in the forecast period. Furthermore, the APAC automotive radar market is expected to perform well, owing to the increasing investments in the automotive safety technology. It is being expected that by 2023, APAC will outgrow Europe and North America to become the largest market in the world.

Therefore, the market is projected to advance due to the rapid expansion of the automotive industry in APAC.

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