Automotive Lithium-Ion Battery Market Business Revenue Forecast, Size, Leading Competitors and Growth Trends

Rising global temperatures have become a major cause of concern, which is being seen as a consequence of burning of fossil fuels for meeting energy needs from time immemorial. Fossil fuels are made of organic matter and their burning releases a huge amount of carbon dioxide and other gases in the atmosphere. These gases are termed as greenhouse gases, as they get trapped into the atmosphere and gradually increase the temperature. This temperature change has not only caused the melting of glaciers and rising of sea levels, it has disturbed the climatic pattern as well, with frequent floods and droughts occurring at the same time in the same country/climatic zone.

Further, the increasing prices of crude oil across the globe, has also motivated governments to find alternatives to conventional energy sources. In the transportation sector, efforts are being made to popularize electric and hybrid vehicles among users. The International Energy Agency reported that the global car fleet grew to approximately 5.1 million in 2018, registering a 2 million increase in sales from 2017. Governments of many countries are actively providing their residents with an efficient and sustainable transport system.

Electric and hybrid vehicles use lithium-ion (Li-ion) batteries for storing electrical energy. These batteries are rechargeable and are made of many cells. They are light weight and have a high energy density. Lithium batteries have different structural designs, such as pouch, prismatic, and cylindrical. During 2014–2018, Li-ion batteries with the cylindrical structural design sold, accounted for the maximum cumulative energy storage capacity. In fact, in the coming years as well, they would continue to amount for the highest installed energy storage capacity among all Li-on batteries of different structural designs. The automotive lithium-ion battery market is predicted to register a 15.9% CAGR during the forecast period (2019–2024).

Electric vehicle manufacturers are now increasingly using lithium-nickel-manganese-cobalt (NMC) batteries, gradually shifting from lithium-iron-phosphate (LFP) batteries. The latter were heavier and occupied more space in the vehicle; these shortcomings have been addressed by NMC batteries. Besides being lighter in weight and compact, NMC batteries are capable of providing higher ranges in passenger cars in a single charge. This is due to the greater energy density of these batteries that facilitate a higher vehicle range. Furthermore, the prices of these batteries have reduced significantly, which is further contributing to their acceptance among manufacturers.

Many developed countries have already included electric vehicles in their transportation system and this is yet to be done in emerging economies. With growing environmental concerns, many countries across the world have announced the adoption of electric vehicles in the coming future. For instance, a Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME-II) program, was launched by the Indian government in 2019; this is an ambitious plan of the country to popularize and adopt electric vehicles in the near future. Further, in the ASEAN region, Thailand is one of the largest consumers of electric vehicles. In an initiative to popularize these vehicles, the Thailand Board of Investment announced their plans of reducing the excise duty from 8% to 2% on electric vehicles, thereby boosting the automotive lithium-ion battery market, as storage batteries are an essential component of electric vehicles.

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Surgical Navigation System Market is Likely to Witness Considerable Growth in Future

The surgical navigation system market size generated a revenue of $663.4 million in 2016 and is projected to attain a 6.9% CAGR during the forecast period. Systems that utilize a combination of computer technology and various instruments to assist surgeons are known as surgical intervention systems.

The key factor driving the surgical navigation system market is the rising prevalence of neurological, ENT, and orthopedic disorders. As the treatment of these disorders may require surgical intervention into the complex and remotely located areas inside the body, surgical navigation systems are a tremendous help to healthcare service providers. As per the World Health Organization, the mortality rate due to neurological disorders is expected to increase to 12.2% by 2030 from 11.8% in 2015, further highlighting the importance of such systems for saving lives.

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Another factor adding to the growth of the surgical navigation system market is the popularity of minimally invasive procedures, owing to the advantages of these surgeries, such as less trauma, quick post-operative period, and better cost-effectiveness than open surgeries. A report published by the European Association of Cardio-Thoracic Surgery in 2015 said that in the past 10–15 years, the field of minimally invasive cardiac surgery has rapidly developed. Similarly, the popularity of cosmetic procedures is also a result of the innovations in the minimally invasive approach.

The major end users in the market are hospitals, and physician practices and ambulatory settings. In 2016, hospitals were the larger category within the segment with a revenue contribution of $577.2 million. This is credited to the increasing patient pool in hospitals and better implementation of advanced surgical units in different hospitals across various regions. This is also the reason hospitals will continue generating the higher revenue in the market during the forecast period.

Thus, the market for surgical navigation systems is headed toward a bright future as the demand for these systems is set to rise with the increasing prevalence of various diseases.

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Laboratory Filtration Market is Projected to Witness the Fastest Growth in Asia-Pacific

The laboratory filtration market size generated a revenue of $2.3 billion in 2017 and is expected to grow at a CAGR of 7.3% during the forecast period (2018–2023). The market is being positively impacted by the increasing use of the filtration process in pharmaceutical and biopharmaceutical and food and beverages industry, and the introduction of technologically advanced products. Filtration separates two components, usually solid from liquid, with the help of size-specific filters. Laboratory filtration products find application in microbial analysis, water treatment plants, drug discovery and development, virus removal, and research laboratories.

The increasing reliance on filtration techniques to obtain purified products is becoming a trend across various industries. In the pharmaceutical sector, the tissue culture media is filtered using several techniques such as membrane filtration to address diseases and manufacture new drugs. Membrane filters are also being used as a means of monitoring in-water microbiology and air pollution. Biomimetic membranes have been developed as a water filtration technology that replicates the process occurring at the cellular level.

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Technological advancements are another factor that is driving the laboratory filtration market forward. Improved products offer a more cost-effective, accurate, and efficient means of filtering out the components, so the purity of the sample can be monitored. Membrane filter is one such product that is used to monitor air and water pollution. It uses a smooth membrane that separates the solid particles, depending on the pore size of the filter. Sartorius Group has a wide range of syringe filters, one of which is Minisart syringe filters, that are specifically used to remove particulates and microorganisms from gases, liquids, and air.

When segmented by product, the market is divided into filtration assemblies, filtration media, and filtration accessories. Laboratory filtration media was the dominating category during the historical period (2013–2017). This is credited to the fact that this category includes products such as filter papers, membrane filters, and filtration microplates that see heavy usage in research facilities. This is why the laboratory filtration market is expected to grow to $1,438.3 million in this category by 2023, attaining a CAGR of 6.8% during the forecast period. 

Therefore, the rising demand for pharmaceutical and biopharmaceutical products, which would lead to an even heavier usage of the filtration process in laboratories, is predicted to supplement the growth of the market.

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Rising Government Support Aiding the Organ-on-Chip Market to Grow

The increasing need for animal alternatives in medical research and growing government funds and grants for studies are the prime factors strengthening the organ-on-chip market, globally. In 2017, the market generated a revenue of $11.0 million, and it is predicted to witness a 40.1% CAGR during the forecast period (2018–2025). Organ-on-chip is a 3D microfluidic cell culture chip, developed to simulate the mechanical and natural physiological forces that cells are subject to inside the human body. These chips are integrated with living human cells as well as tiny fluidic channels to propagate air and blood flow.   

Based on type, the organ-on-chip market is broadly classified into liver, heart, lung, kidney, and intestine-on-chip. Among these, in 2017, the liver-on-chip classification dominated the market in terms of revenue, and it is expected to exhibit the fastest growth with more than 45.0% CAGR during the 2018–2025 period. The surging incidents of chronic liver disease and rising research and development activities for therapeutic interventions are the major factors responsible for the growth of this classification.

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The increasing collaboration among the key players and rising number of product launches are helping in the development of the organ-on-chip market. For instance, in October 2017, Charles River Laboratories International Inc. (Charles River) permitted InSphero AG to license its patient-derived xenograft (PDX) tumors. Furthermore, the company was to use the proprietary 3D cell culture technology of InSphero to further complement and expand its pre-clinical services, utilizing the in-vitro 3D InSight Tumor Microtissues obtained from its current PDX tumors.

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Thus, the growing need for alternative models for medical research studies is expected to boost the organ-on-chip market progress during the forecast period. Further, the increasing government funding is helping the market players conduct more research activities. Government agencies such as the National Institutes of Health offers grants to facilitate the research programs. For instance, in July 2017, Emulate Inc. declared it had been granted an undisclosed amount to utilize its human Brain-Chip system to create a fully automated research platform for carrying out experiments on the International Space Station.

Hence, the rising demand for alternative models for medical research and growing government support are accelerating the market growth.

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Dry Shampoo Industry Analysis, Business Revenue Forecast, Size, Leading Competitors and Growth Trends

The study uncovered that the global dry shampoo market is expected to grow at a moderate pace, during the forecast period. Due to significant growth in e-commerce, new hair care product advancements and effective advertising, the global dry shampoo market is gaining traction.

According to a new market research report “Global Dry Shampoo Market Size, Share, Development, Growth and Demand Forecast to 2023 - Industry Insights by Product Type (All Natural, Paraben Free, Gluten Free and Others), by Form (Powder and Spray) and by Application (Volume Boost, Oil Remover and Combination)” published by P&S Intelligence, the global dry shampoo market is projected to grow at a CAGR of 6.1% during 2017 - 2023.

Insights on market segments
As per the findings of the research, paraben free dry shampoo accounted for the largest revenue in 2016. Among the forms, spray dry shampoo witnessed higher demand during 2013 - 2016, and it is also expected to register higher growth during the forecast period. Spray dry shampoo has been the larger contributor to the global dry shampoo market in 2016. Spray dry shampoo has become popular as an alternative to regular shampoo in recent years. The spray dry shampoo, apart from being handy and easy to use, makes hair look greasy and stylish without washing.

Dry shampoo market to witness fastest growth in Asia-Pacific
Geographically, North America has been the largest market for dry shampoo. However, the market is expected to witness fastest growth in Asia-Pacific, during the forecast period, due to factors such as growth in cosmetics and haircare industry, advancement in anti-dandruff and anti-hair fall dry shampoos, growth in retail channels, and increasing adoption of new hair care products by a large consumer base. Further, due to rapidly changing fashion trends, the region is likely to adopt dry shampoo at a greater scale in near future.

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The European dry shampoo market has been witnessing moderate growth for past few years. Smoking ban in the U.K., and the trend of working from home has been indirectly impacting the regular shampoo industry in the country. However, this has led to a surge in the demand for dry shampoo in the country, as the shampoo consumers are shifting toward more casual and natural style of hair cleansing. According to an estimate, one out of every five women in the U.K. uses dry shampoo.

Moderate competition among key players in the global market
The research states that the global dry shampoo market is moderately competitive. The players in the market are developing a new marketing and distribution approach to offer dry shampoo. With the declining growth rate of the normal shampoo market, the shampoo manufacturers have started to increase the brand communication of their dry version with consumers, to retain them. The players in the dry shampoo market are offering innovative products such as tinted dry shampoo and glitter dry shampoo. Some of the key players in the global dry shampoo market are L’Oréal, Procter & Gamble, Henkel, Batiste, Sephora, Shiseido, and Klorane.

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Most of the existing vendors in the global dry shampoo market are actively participating in organic and inorganic strategies. Many of them are focusing on operational transformation to enhance their capabilities for new dry shampoo offerings.

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Agricultural Biotechnology Market and its Growth Landscape for the Next Few Years

The rising demand for biofuel and transgenic crops, growing population, regulatory support in Brazil and the U.S., and increasing per capita income are driving the agricultural biotechnology market. It generated a revenue of $28.5 billion in 2016, and it is expected to advance at a CAGR of 10.1% during the forecast period (2017–2023). The utilization of molecular biology tools and techniques, such as molecular markers, plant tissue culture, genetic engineering, and recombination, for the development of genetically superior crops and plants is termed as agricultural biotechnology.

The key factor driving the agricultural biotechnology market is the surging demand for transgenic crops. The advantages of these crops are low requirement for harmful pesticides and improved agricultural productivity. Despite the higher cost of transgenic seeds, the overall production cost of crops is lowered, as less fuel, chemical pesticides, and machinery is used. The U.S., India, Brazil, Canada, and Argentina are the major genetically modified (GM) crop-producing countries. In the coming 10 years, the commercial GM-crop profile is expected to diversify to include fruits and staples, such as rice and cassava.

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Based on product, the categories of the agricultural biotechnology market are crop protection products and transgenic seeds. During the forecast period, the crop protection product category is projected to grow faster at a 10.7% CAGR. Various advantages offered by these products, such as protecting plants and crops from weeds, harmful chemicals, and pests, would be responsible for the growth of this category.

The technology segment of the agricultural biotechnology market is subdivided into biochips, genome editing tools, synthetic biology, deoxy ribonucleic acid sequencing, and ribonucleic acid interference. Till 2023, synthetic biology is predicted to witness the fastest growth in demand at a 10.9% CAGR. The advance of this category can be ascribed to its ability to generate large gene and gene-part clusters in a single genome of a seed, which is more advantageous than traditional approaches. 

Therefore, the market for agricultural biotechnology has a bright future, aided by the rising need to fulfill the growing demand for biofuels and create nutrient-fortified crops.

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Rapid Industrialization Helping the Asia-Pacific Air Quality Monitoring Market Grow

Increasing incidents of respiratory diseases, rapid industrialization, and rising pollution levels are some of the key factors driving the growth of the Asia-Pacific air quality monitoring market, finds P&S Intelligence. The market attained a size of $936.6 million in 2017 and is expected to advance at a 10.0% CAGR during the forecast period (2018–2023). AQM devices analyze and monitor pollutants in the indoor and outdoor air. These can analyze the pollution according to various parameters, such as gaseous pollutant level and particulate matter (PM).

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Based on product, the APAC air quality monitoring market is bifurcated into indoor and outdoor monitors. Of these, in 2017, indoor monitors held a dominating share in the market and are expected to do so during the forecast period as well. This is ascribed to the increasing adoption of air quality monitors in industries such as petrochemical and pharmaceuticals that demand a controlled environment. However, outdoor monitors are anticipated to exhibit the faster growth, at a CAGR of 11.6%, during 2018–2023.

Fossil fuels, including gas, oil, and coal, are some of the products that emit high amounts of toxic substances, such as methane, nitrous oxide, and carbon dioxide, in the air. Urbanization and industrialization have increased the vehicular traffic, thereby polluting the atmosphere to a great extent.

According to the United Nations Economic and Social Affairs (UNDESA), World Urbanization Prospects 2018 revision data, nearly 55.0% of world population was anticipated to live in urban areas by 2018, and the percentage is expected to reach 68.0% by 2050.

Though industrialization has helped in improving technologies, unfortunately, it has also increased problems such as air contamination. People residing in highly-polluted areas are more susceptible to cancer than people staying in a controlled-quality environment. In 2017, the Ministry of Environmental Protection reported that in China, almost 13,785 companies (nearly 70.6% of the companies examined) had contravened the environmental standards and contributed to pollution. Factors such as this are expected to continue aiding in the growth of the AQM market in APAC during the forecast period.

Hence, the rapid urbanization and increasing levels of air pollution are expected to boost the market.

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