The Value of Electric Bus Market in China is Estimated to Soar Higher During Forecast Period

The Chinese electric bus market is projected to reach 299,866 units by 2025, witnessing a CAGR of 15.9% during the forecast period according to P&S Intelligence, the growth of the market is majorly driven by increasing government support for electric vehicles and falling battery prices.

Insights into market segments

Falling battery prices and increasing operational efficiencies expected to benefit the market

The China electric bus market is segmented on the basis of hybrid powertrain, which includes parallel hybrid, series parallel hybrid, and series hybrid. Among these, the parallel hybrid category held more than 40% share in the Chinese electric bus market in 2017. However, the fastest growth during the forecast period is expected from the series hybrid category, due to the ease in designing and assembling this type of powertrain, which reduces the overall cost of electric bus.

As battery accounts for significant share of electric bus manufacturing cost, declining Li-ion battery prices would help bus companies to keep prices under check. Moreover, increasing battery production capacity would further lower battery prices in China during the forecast period. Similar to the case of internal combustion engine, whose costs fell with decades of experience, the electric vehicle’s cost too, would continue to fall during the forecast period, with industry experience, operational efficiencies, and economies of scale; thus, driving the Chinese electric bus market during the forecast period.

Government ‘push’ driving the market

The Chinese electric bus market is highly dependent on the government, which accounted for more than 65% sales in 2017. Buses in the government sector are used for public transport, transit services, military, and other purposes. Most of the decisions of purchasing electric buses are made at the central or state government level, by politicians and other government employees. The reduction in electric vehicle subsidy would have a limited impact on the sales of electric buses as the government sector is less cost sensitive compared to the private sector. Moreover, the Chinese government has a strong commitment to increase the share of electric buses in the transportation system of the country.

Business Report on China E bus Market(Image Source- Youtube.com)

Competitive Landscape
Similar to the conventional bus market, domestic players account for most of the sales in the Chinese electric bus market. Important players in the market include Zhengzhou Yutong Group Co. Ltd., Higer Bus Company Limited, BYD Company Limited, Zhongtong Bus & Holding Co. Ltd., Dongfeng Motor Corporation, King Long United Automotive Industry Co., Ltd, and Anhui Ankai Automobile Co. Ltd.

Read More

Healthcare Insurance Market is Expected to Witness the Fastest Growth in APAC

The global healthcare insurance market is witnessing a CAGR of 4.3% during the forecast period by Prescient & Strategic Intelligence.

Based on coverage type, the healthcare insurance market is categorized into lifetime and term coverages. Out of these, in 2018, the term coverage category contributed a revenue of $1.3 trillion and is expected to be the faster-growing category, advancing at a CAGR of 4.7% in the analysis period. Term coverage is a fixed-term policy, which provides benefit upon the death of an insured individual. Due to the benefits associated with term coverage, such as low-cost premium and receipt of a lump sum amount when the term ends, the category is predicted to progress.

To Learn More About this report: http://bit.ly/2QorjWq

Now, when segmented by insurer type, minors, adults, and senior citizens are the divisions of the healthcare insurance market. Out of these, insurance plans for adults are anticipated to dominate the market across the globe. In 2018, adults generated a revenue of nearly $0.9 trillion for the market, which is projected to reach $1.2 trillion by 2024. On the other side, the minors category is expected to witness slower growth, advancing at a CAGR of 2.9% in coming years, owing to the fact that minors are dependent on adults and mostly covered in the insurance plans for grown-ups. 

The APAC market is projected to generate approximately $0.5 trillion revenue by 2024. This growth is mainly led by expanding healthcare industry, increasing healthcare awareness, and surging prevalence of chronic ailments in the region. Increasing medical tourism industry is also supporting the growth of the market in APAC.

Currently, the world is experiencing a significant rise in the geriatric population. In 2017, according to the World Population Prospects report published by the United Nations, geriatric population is predicted to grow faster as compared to the that of other age groups. The report states that there were 962 million people aged 60 years and above in 2017, globally, and this number is estimated to reach 1.4 billion by 2030, 2.1 billion by 2050, and 3.1 billion by 2100. This is further expected to result in the growth of the healthcare insurance market, as more aged people will lead to more plans being sold.

Hence, with the increase in the geriatric population across the globe, the demand for healthcare insurance plans is expected to rise.

Read More

Research About Advances In Battery Technologies For Electric Vehicles In The Next Upcoming Years

Electric vehicle require battery for their operation, while hybrid electric vehicle use conventional fuel along with an electric propulsion system. Hybrid electric vehicle accumulate energy, when the vehicle decelerates. The power stored in batteries of hybrid electric vehicle is used for forceful tasks, such as accelerating from standstill. Once the vehicle is in motion, the combustion engine later runs the vehicle’s movement.

The global hybrid and electric vehicle battery market is expected to grow at a CAGR of 20.0% in terms of value during 2016-2022. Among the various applications, the electric vehicle segment accounted for largest share (46.5%) in the hybrid and electric vehicle battery market in terms of value in 2015.

Majority of European countries import hybrid and electric vehicle battery from China, Japan, and South Korea. Despite slower economic growth in Europe, countries such as Norway, France and Sweden are expected to witness growth in the hybrid and electric vehicle market during the forecast period. The increasing penetration of hybrid and electric vehicle is expected to drive the growth of the hybrid and electric vehicle battery market during the forecast period.

China accounted for the largest market share of electric vehicle in 2015. With newly built smart cities and modern infrastructure, China is giving significant attention to the emission free public transit system. The government of China offers subsidies on the purchase of emission free vehicles that has assisted the growth of the electric vehicle market in the country. China is expected to lead the global hybrid and electric vehicle battery market during the forecast period. The average cost of lithium-ion battery is expected to decline significantly by the end of 2022.

The major players operating in the global hybrid and electric vehicle battery market include, Panasonic Corporation, Automotive Energy Supply Corporation, BYD Company Limited, Lithium Energy and Power GmbH & Co. KG, LG Chem., Tianneng Power International Co. Ltd, Hitachi Vehicle Energy Ltd., Shenzhen Bak Battery Co. Ltd., and Zhejiang Tianneng Energy Technology Co. Ltd.

Wait... Know Notable Developments in this Technology.. Know More:

Image Source: https://upload.wikimedia.org/wikipedia/commons/4/40/Nissan_Leaf_012.JPG

Read More

Sports Supplements Market Energized

The global sports supplements market is projected to advance at a CAGR of 8.8% during 2012–2022. Among the various product types, the protein supplements category held the largest market share in 2015.

The rise in urban development and surge in health clubs and fitness centers are the key factors driving the sports supplements market. The surge in the demand for caffeine-free products and increased focus toward better products’ development by companies are being observed as the key trends in the market. Additionally, with the rise in health concerns among consumers, the demand for supplements with negligible side-effects has surged. Due to this, the sales of caffeine-free sports supplements have grown significantly in recent years. Several nutritionists also recommend the use of stimulant-free pre-workout supplements. As the awareness pertaining to the benefits of the ingredients used in sports supplements is growing, the demand for sports supplements is projected to surge during the forecast period.

To receive a free sample copy of this report

Earlier, sports activities used to be limited to young adults; however, children have also started taking a keen interest in them. Children are getting motivated by their parents to participate in sports events, which would lead to overall development and boost their confidence level. This is expected to driving the demand for such products, and in turn, the sports supplements market during the forecast period.

Consumers’ demand for sports supplements has been inclining toward products that provide more benefits when compared to traditional products. This has impelled companies to develop new products to cater to their customers’ needs. Further, to increase the efficiency of their products, sports supplement manufacturers are focused on research and development.

Explore Full Report at: https://www.psmarketresearch.com/market-analysis/sports-supplements-market

Some of the major players in the global sports supplements market are Atlantic Grupa d.d., Enervit S.p.A, Creative Edge Nutrition Inc., GlaxoSmithKline PLC, Glanbia PLC, GNC Holdings Inc., Herbalife Nutrition Ltd., Nature’s Bounty Co., Universal Nutrition, and Scitec Ltd.

Market Segmentation

By Type

• Protein Supplements
  • Powders
  • Bars
  • Ready-to-drink
• Non-Protein Supplements
  • Amino acids
  • Creatine
  • Beta alanine
• Herbal Supplements
  • Tea bags
  • Capsules
  • Tablets
  • Liquids
  • Powders

By Distribution Channel

• Supermarkets and Hypermarkets
• Health Food Stores
• Fitness Clubs
• Drug Stores
• Others

Read More

Current Market Scenario of Automotive Fuel Transfer Pumps Market

Technological advancements and changing consumer preferences are driving the automotive fuel transfer pumps market across the world. In 2015, the market valued $49,052.6 million, and it is projected to advance at a 4.7% CAGR during the forecast period (2016–2022). Fuel transfer pumps were initially installed in vehicles to supply the fuel to the engine from the fuel tank. But with rising pollution, these are also being used to increase the fuel efficiency and performance.

Several types of pumps are available in the market, including fuel supply, fuel injection, transmission oil, engine oil, and vacuum pumps. Among all, fuel supply pumps registered the highest sales and revenue in the automotive fuel transfer pumps market in 2015. Fuel supply pumps transfer the fuel from the storage tank to the engine, without which vehicles cannot move. Therefore, owing to their importance in vehicles, these dominated the market and will continue to do so during the forecast period.

However, vacuum pumps are expected to advance with the highest revenue and sales volume CAGR in the market during the forecast period. Apart from creating vacuum for braking systems, these are also used in air conditioning and central locking systems. The reason for their rapid growth would be the changing consumer preferences, which are compelling automotive manufacturers to offer such advanced systems in their vehicles. Hardly any personal vehicle nowadays comes without air conditioning, whereas the central locking system is also gaining rapid popularity.

This is because with rising disposable income, more consumers are able to afford vehicles with premium features. In countries such as Brazil, India, and China, these systems are moving beyond premium and executive cars to be included in compact as well as mid-segment cars. Further, with the existence of numerous large automotive makers and consumer base, the competition in the automobile industry is increasing. To be on top, vehicle manufacturers are equipping their vehicles with such systems, many of which require fuel transfer systems, including vacuum pumps.

Another reason for the growth of the market is technological advancements. To dominate the competition, automakers are integrating gasoline turbochargers, automatic transmission, power steering, and gasoline direct injection in vehicles. The installation of many of these systems is also a result of strict regulations in many countries with regard to carbon emissions. For instance, the fuel efficiency increases and fuel combustion improves with the use of gasoline turbocharged direct injection. So, as these systems are integrated into more vehicles, the sales of advanced fuel injection systems are expected to increase.

Hyundai Motor Company, General Motors, BMW AG, Ford Motor Company, and Volkswagen offer the technology in their personal vehicles. Just as the gasoline turbocharged direct injection technology becomes popular in personal vehicles, diesel turbocharged direct injection systems are being rapidly installed in commercial vehicles, such as buses and trucks. Such heavy-duty vehicles generate lots of emissions; therefore, it is becoming necessary to equip them with technologies that help reduce pollution. Therefore, with the rising commercial vehicle sales, the automotive fuel transfer pumps industry is predicted to prosper further.

Across the world, Asia-Pacific dominated the market during the historical period (2012–2015) in terms of sales volume as well as revenue, and it is expected to maintain its dominance during the forecast period. However, the automotive fuel transfer pumps market is projected to grow the fastest in Middle East and Africa in terms of value and volume owing to the rapidly surging demand for passenger cars and increasing technological advancements in automotive technology.

Hence, with the growth of the automobile industry in developing countries, the market for automotive fuel transfer pumps would continue to progress.

Read More

Read More

Energy Harvesting System Market to Witness a CAGR of 11.0% in Coming Future

Annually, 35,000–45,000 pounds of CO₂ emissions are attributed to an average person. The increasing global carbon footprint and rising amount of greenhouse gas emissions are leading to climate change. The changing climate, shifting rainfall patterns, and rising temperature are further resulting in the depletion of natural resources, upon which numerous economies are dependent.

The governments across the globe, in order to remedy this situation, are focusing on ways to reduce the carbon footprint. Minimizing the wastage of energy and harvesting it instead is one of the ways to accomplish this. The process of energy harvesting converts wasted energy, which is accumulated, into currents and electrical voltages. 

Request Sample Copy of Report : http://bit.ly/2qJme0h

The systems used for the purpose of harvesting energy also make sure that the electricity bill doesn’t burn a hole in individuals’ pockets. These factors are leading to an increasing demand for energy harvesting systems and devices.

The natural resources generally used for the generation of energy, for example fossil fuels, are finite and take a heavy toll on the environment. As per the BP Statistical Review of World Energy, in 2010, the world was left with only 188.8 million tons of oil in the reserves that are known to humans, which is only enough to meet the world’s demands for the coming 46.2 years. 

Thus, it has become vital to look for new ways that could help generate energy and reduce environmental degradation, and energy harvesting could be the way to achieve this. The global energy harvesting system market attained a value of $358.5 million in 2017, and it is further predicted to grow at a CAGR of 11.0% in the coming years. 

The growth of the market is because of the rising adoption of internet of things (IoT) and increasing demand for power-efficient systems for building automation.

Read More