Attractive Opportunities in Electric Bus Charging Station Market

Supportive government regulations and initiatives, the inclusion of electric buses in the public feet in large numbers, and increasing investment to develop infrastructure for such vehicles are influencing the electric bus charging station market positively. From valuing $6.6 billion in 2018, the market is expected to grow at a 9.7% CAGR during the forecast period (2019–2025), garnering $12.3 billion by 2025. Facilities that are used to charge electric bus batteries  are termed as electric bus charging stations.

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The increasing adoption of electric buses in the public transport network is one of the major driving factors for the electric bus charging station market. For improving the public transport facilities, the major say is of the government of a country, state, or province. The implementation of the Kyoto Protocol in 2005 has shifted the focus of countries toward becoming a low-carbon economy. Therefore, governments are offering subsidies on electric buses and enthusiastically including them in transit services, and military and public transport.

The segments of the electric bus charging station market are region, type, charger, and power. Based on type, the categories of the market are inductive, depot, and opportunity charging. In 2018, the highest sales volume in terms of installation (over 55.0%) was registered by depot charging stations due to the operational similarity of buses using such facilities to diesel buses, which makes them a preferred choice among private and public transport agencies. The highest volume CAGR is expected to be witnessed by the inductive charging category during the forecast period. 

Immense opportunities for the e-bus charging station market growth are present in developing economies. These countries are witnessing a huge increase in their urban population, where employment opportunities are abundant. The World Bank report for 2017 said that in India and Brazil, the urban population constituted 34.0% and 86.0%, respectively, of the total. This huge urban population has necessitated the demand for a better public transportation system. Therefore, to provide transportation services in an environment-friendly way, electric buses, in large numbers, are being procured, thereby leading to a high demand for charging stations. 

Therefore, the market for charging stations for electric buses is headed toward prosperity in the forecast period as these buses are increasingly being deployed in public transport to curb vehicular pollution.

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Low Emission Vehicle Demand Globally- Business Outlook, 2024

The global low emission vehicle market is growing at a significant rate, due to increasing availability of different hybrid electric vehicle models, development in battery technology, and increasing global prices of petroleum based fuel. The strict environmental regulations regarding controlling the increased pollutants from industrial emissions and vehicles are also supporting the growth of the global market.

The increasing popularity of vehicle to grid technology among consumers and high growth in charging infrastructure market are two of the major factors, providing ample growth opportunities for the global market. Some of the major factors restraining the growth of the global market are higher cost of low emission vehicle, lack of power and performance, and lack of supporting infrastructure.

The ground level ozone, particulate matter, volatile organic compounds and nitrogen oxides are some of the primary pollutants, which are present in emissions. Air pollution leads to several diseases, such as asthma, lung cancer and cardiovascular disease. As the number of cases for illness has increased, the government is more focused towards amendment of emission standards and health hazards related with harmful compounds. In metropolitan cities, the growing population and increase in usage of individual transport vehicles is contributing to considerable increase in air pollution. In the various developing countries, such as Brazil, China and India, the secondary cities are being developed as a part of economic development. But inefficient and conventional transport infrastructure in metropolitan cities has led to intensifying levels of vehicle emissions, noise and traffic congestion.

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With the increase in monitoring duties, several guidelines have also been implemented for the amount of fuel usage in low emission vehicle. The favorable government proposals in capitalizing for innovative low emission technologies are expected to reduce the usage of fossil fuel, which will further decrease the air pollution. This has offered opportunities for enhancing the automotive supply chain and has also encouraged the competitors in the market for investing in development of low carbon technologies. The growth of environment friendly automotive companies is positively influenced by low emission vehicle.

The improvisation of automotive components and enhancements in fuel efficiency for providing the renewable fuels are expected to drive the innovation in low emission vehicle. Decarburization in freight and aviation sector is up surging, due to increasing developments in biofuels market. The competitors are increasingly focusing on research and development activities for developing fuel efficient vehicles, due to increasing consumer awareness about low emission vehicle. Moreover, the enhancements in combining renewable and conventional energy systems are expected to drive the growth of the low emission vehicle market during the forecast period. Among all the low emission vehicles, mild hybrid vehicles and plug-in hybrid electric vehicle are growing with a substantial rate, due to decrement in greenhouse gas emissions with the use of such vehicles.

Some of the competitors in the global market are Mitsubishi Motors Corporation, Toyota Motor Corporation, Nissan Motor Co Ltd., Volkswagen AG, Honeywell International Inc., and Bayerische Motoren Werke AG.

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MEA Chiller Market Growing due to Rising Adoption of District Cooling Systems

The MEA chiller market generated a revenue of $1.1 billion in 2018 and is predicted to advance at a CAGR of 3.6% during the forecast period (2019–2024).

The expanding construction industry and adoption of district cooling systems are the factors contributing to the growth of the market. A chiller is used for cooling large facilities; this is achieved by the removal of heat from a liquid through a vapor-compression or absorption refrigeration cycle. Chilled water is generated by chillers, which then facilitates the cooling of buildings.

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A key driving factor of the MEA chiller market is the growing adoption of district cooling systems. The region is increasingly deploying district cooling systems due the rising demand for energy-efficient cooling solutions. Since these systems consume 40–50% less energy than the traditional air conditioning systems, they are a better alternative for cooling requirements of a building. 

Other benefits of district cooling systems include reduced total installed capacity, less occupation of space, and reduced maintenance costs. Because of these factors, these systems are gaining huge momentum among the consumers. 

A major opportunity is created in the MEA chiller market due to the rising demand for solar-powered absorption chillers. The region is becoming more inclined toward the utilization of renewable energy sources due to the surging electricity consumption, which is a concern in MEA, and presence of high solar radiation.

Hence, the market is predicted to witness growth due to the increasing requirement for solar-powered absorption chillers and rising inclination toward magnetic bearing chillers.

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Two-Wheeler Hub Motor Market Overview, Size and Share 2018-2024

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.

What are the factors impacting the growth of this market?

1. Rapid Adoption of Electric Two-Wheelers is Driving the Growth of the Market

     2. 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 two-wheeler hub motor market. 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.



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The growing adoption of electric two-wheelers is a major growth driver for the two-wheeler hub motor market. The accelerating rate of environmental degradation by greenhouse gas emissions has become a major concern for governments across the world. The increasing amount of exhaust fumes from automobiles, including two-wheelers, is contributing significantly to the degradation of air quality. Thus, the governments of different countries are taking various initiatives to curb the growing pollution levels. For instance, in many countries, the government has incentivized the purchase of electric motorcycles and scooters to promote the adoption of environment-friendly transport. Thus, such initiatives by the governments to increase the adoption of electric vehicles as an effort to reduce carbon emissions are driving the growth of their components’ markets.

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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Car Rental, An Emerging Market

The global car rental market was valued at $78.7 billion in 2018, which is projected to reach $122.6 billion by 2024, progressing at a CAGR of 7.9% during the forecast period (2019–2024). Among the various vehicle categories operating in car rental market, economy cars held the largest market share during the historical period.

Historically, the market witnessed the fastest growth in the category of luxury cars, mainly driven by the increased usage of luxury cars by business professionals.

The deployment of electric vehicles in the car rental fleet is a rising trend worldwide, in the car rental market. Various major players are adding fleet of electric cars in their rental services as a result of regulations and policies related to sustainable mobility notified by government in various countries. For example, Zoomcar India Pvt Ltd., in 2018, partnered with Mahindra & Mahindra Ltd. to deploy electric cars in its rental fleet in India.

The car rental market is driven by its convenient mobility feature. Renting a car allows individuals to enjoy the facilities of owning a personal vehicle, without having the need to actually own it. Additionally, owning a private car demands a high investment, which mainly comprises the vehicle cost, fuel cost, parking expenses, maintenance charges, and insurance cost. This is acting as strong growth factor for the car rental market globally.

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Furthermore, with growing digitization in the rental services, the users can easily rent a car by booking it directly through the company’s mobile application or website. The mobile application provides every detail and assistance, along with customized rental services to the users while booking the car.

Geographical Analysis of Global Car Rental Market

Together, North America and Europe accounted for over 67.0% revenue of the global car rental market harborough, in 2018. The large market size in these regions is due to presence of major car rental players in both regions and higher car rental length (days).

APAC held significant share in global car rental market in 2018, due to the fact that APAC is the second most preferred regions for travel and visits worldwide. China and Japan were the major revenue generating countries in APAC, in 2018. However, the market size in India is expected to surpass the Japanese car rental market size by 2022. This can be mainly attributed to rising number of car rental companies in India and customized rental services being offered by these companies.

The global car rental market is highly consolidated in nature as major part of the revenue is generated by only few companies. These major companies provide car rental services in many countries. For example, Enterprise Holdings Inc. operates in over 100 countries across North America, Central America, South America, Europe, the Caribbean and parts of Middle East and APAC. Sixt SE, Localiza Rent a Car SA, Europcar Mobility Group S.A., Avis Budget Group, Addison Lee Ltd., Hertz Global Holdings Inc., Zoomcar India Pvt. Ltd. are some of the major players providing car rental and leasing services.

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How is Increasing Disposable Income Driving Anti-Aging Market?

The disposable income of people across the world is rising. As per the U.S. Bureau of Labor Statistics, the personal disposable income of the people in the U.S. increased from $11,394 billion in 2006 to $15,929 billion in 2016 and is further predicted to reach $24,174 billion by 2026. Similarly, according to the Organisation for Economic Co-operation and Development, in Germany and Denmark, the house disposable income rose from 1.6% and 1.5% in 2014 to 2.6% and 3.3% in 2016, respectively. Because of this growth in the disposable income, people are able to spend money on aspects such as personal care, which, in turn, has resulted in the rising adoption of anti-aging products and devices.

Anti-aging refers to the treatment, prevention, reversal of age-related conditions, such as scars, wrinkles, and age spots. Anti-aging products come in the form of gels, moisturizers, creams, serums, facial oils, and cleansers. In 2017, the global anti-aging market generated a value of $165.2 billion and is projected to advance at a 7.9% CAGR in the coming years.

Different anti-aging treatments are chemical peel, breast augmentation, hair restoration treatment, anti-adult acne therapy, liposuction, and anti-pigmentation. Other treatments include photorejuvenation, eyelid surgery, and sclerotherapy. Among these, the demand for hair restoration treatment was the most during 2014–2017 and is further going to be required the most in the near future as well. Various conditions, such as genetic balding and hormonal issues, along with some medical conditions, including lupus, thyroid diseases, and trichotillomania, and radiation treatments and chemotherapy lead to hair loss. Due to technological advancement, now this condition can be cured with several types of hair restoration treatments, namely stem cell and platelet-rich plasma-assisted hair transplant, hair replacement, hair restoration surgery, and laser light therapy.

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The surging geriatric population is, without a doubt, a major factor leading to the rising demand for anti-aging products and devices. As per the United Nations Department of Economic and Social Affairs, the population of people aged 60 years or above will reach 437 million in China, 107 million in the U.S., 324 million in India, and 58 million in Brazil by 2050. Since old age is associated with reduced vascular and glandular network in the skin layers and loss of fibrous tissue, the occurrence of dryness, skin sagging, pigmentary alteration, and wrinkles becomes usual. These skin problems can be dealt by using anti-aging products and devices, as they help reduce the skin aging, which gives a younger look by tightening and revitalizing the skin.

Another factor driving the demand for anti-aging devices and products is the expanding medical tourism industry. According to the Shanghai Medical Tourism Products and Promotion Platform, about 60,000 Chinese travel abroad every year for receiving advanced medical services, which range from anti-aging therapy to chronic diseases management.  Medical tourism means the traveling of patients from one country to another for medical treatment. Different factors contributing to the growth of this industry are quicker accessibility, high quality of care at lower cost, and advanced technology. Due to these factors, the requirement for products and devices related to anti-aging therapy is rising.

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How Rising Demand for a Safer Cooling Systems is Contributing to Industrial Refrigeration Systems Market Growth?

Cold chain is a logistics system which helps maintain the ideal storage conditions for perishable items while transporting them from the point of origin to the point of consumption in the supply chain. The aim of the cold chain is to reduce spoilage and retain the quality of products till their consumption.

The cold chain infrastructure comprises pre-cooling facilities, cold storages, packaging, refrigerated carriers, warehousing, and information management systems (traceability and tracking). It plays a major role in the logistics of various products, such as pharmaceutical drugs, seafood, frozen foods, and agricultural goods. 

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The systems also maintain the nutritional content of the food items as well as increase their shelf life. In the coming years, these systems are expected to witness the fastest growth in demand by the chemicals & pharmaceuticals industry due to the rising requirement for pharmaceuticals across the globe, especially from the African region, as the countries in this region lack proper pharmaceutical industry setup.

With ease of doing business and increasing globalization, it has become easier to produce vaccines and other pharmaceutical products on one side of the earth and transport them to other. However, it is crucial to store these products at a specified temperature to maintain their viability, thereby necessitating the use of industrial refrigeration systems.

Due to this, the industrial refrigeration systems market is expected to register a 5.8% CAGR, generating $33.6 billion revenue, in the near future.

Industrial refrigeration systems are used in various industries, such as oil & gas, food & beverage, chemicals & pharmaceuticals, manufacturing, and construction. These systems were most heavily deployed in the food & beverage industry during 2013–2017. This was because of the ability of refrigeration systems to maintain the freshness of food and beverages over a long period.

Global Industrial Refrigeration Systems Market Segmentation

Market Segmentation by Equipment Type

• Compressors
  • Reciprocating
  • Screw
  • Centrifugal
  • Scroll
• Condensers
  • Air-cooled
  • Evaporative
  • Water-cooled
• Evaporators
  • Shell and tube
  • Bare tube
  • Finned
  • Plate
• Controls
• Others (includes pumps, valves, vessels and auxiliary equipment)

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