How is Growing Adoption of Energy-Efficient Lighting Solutions Driving High-Power LED Market?

As per a research conducted by P&S Intelligence, in 2018, the global high-power LED market reached a value of $12,647.2 million and is expected to advance at a 5.3% CAGR in the near future. LEDs come in four power ranges: 1–2.9 W, 3–4.9 W, 5–10 W, and >10 W. Out of these, 3–4.9 W LEDs were sold the most in 2018, and the category is further expected to retain is position in the coming years. 

The reason for this is that these LEDs are witnessing a large-scale adoption in several applications. Most commonly they are utilized in outdoor and indoor lighting systems in industrial, residential, and commercial areas, such as retail display lighting, architectural lighting, and channel lighting. 

Since high power LEDs have numerous benefits, their applications are wide as well. The high power LED market is categorized into backlighting, automotive, signs & signals, general lighting, and others (which include ultraviolet LEDs, camera flash lighting, and infrared emitter). 

Among all these, the largest demand for high power LEDs was created for the application of general lighting in 2018 due to the rising sales of downlight, area light, spotlight, tunnel light, and industrial light. The fastest growth in demand for high-power LED lighting solutions is projected to be witnessed by the application of backlighting in the coming years. 

In this application, high-power LEDs are utilized in monitors, tablets, gaming devices, status indicators, televisions, laptops, mobiles, and channel letter lighting.

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The high-power LED market has a large number of global and regional players. Some of the major players in the market include Osram Licht AG, Cree Inc., Nichia Corporation, Seoul Semiconductor Co. Ltd., Samsung Electronics Co. Ltd., Everlight Electronics Co. Ltd., MLS Co. Ltd., Lumileds Holding B.V., LG Innotek Co. Ltd., Epistar Corporation, and Broadcom Inc. In order to maintain their stronghold on the market, these companies are adopting product launches as a key strategy.

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Surging Demand for Novel Therapeutics to Drive Catalog Peptides Market Forward

The catalog peptides market size is expected to grow to $332.1 million by 2024 at a CAGR of 5.8% during the forecast period (2019–2024), from $238.4 million in 2018. The increasing funding in protein-based research, technical advancements, rising chronic disease burden, and growing research activities to develop innovative therapies are the major drivers of the market. A short chain of amino acids, in which the amino acids are linked together by peptide bonds, constitutes a peptide. Catalog peptides are off-the-shelf products, which are available with manufacturers for use in biochemistry, molecular medicine, and pharmacology.

The catalog peptides market is observing growth due to advancements in technology that help in the cost-effective manufacturing of peptides. Previously, peptides were synthesized from natural sources, such as adrenocorticotropic hormone (ACTH) derived from the porcine or bovine pituitary and insulin from bovine or canine pancreas. The production of naturally synthesized peptides is not only time consuming, but also has low yield and is much more cost-intensive. With technical advancements, peptides, such as octreotide, oxytocin, leuprorelin, and vasopressin, can be synthesized using solid-phase synthesis.

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The subdivisions of the catalog peptides market, based on type, are G protein-coupled receptor (GPCR), calcitonin gene-related, anti-microbial, caspase-related, tau, amyloid, amylin, adrenomedullin, and cyclic. Cyclic proteins contributed about 11.3% of the total revenue to the market in 2018. These peptides have diverse biological activities, such as immunosuppressive, antibacterial, and anti-tumor activities, which contributed in their significant market share. Owing to their wide-ranging application, cyclic peptides are predicted to be the leader in revenue generation during the forecast period too.

Asia-Pacific (APAC) can be the most lucrative region for the catalog peptides market to maximize revenue. A 2017 United Nations factsheet mentioned that the population above the age of 60 would double by 2050 across the globe. With the rising prevalence of chronic diseases, the demand for novel therapies is increasing for the proper management of such diseases. As the APAC region accounts for 60.0% of the world’s population, the demand for catalog peptides is expected to be high here. Further, low manufacturing costs and lenient regulations are inviting foreign investments.

Hence, the market for catalog peptides is slated to advance in the forecast period due to the rising chronic disease prevalence, increasing research activities, and technical advancements.

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Government Push for Electric Buses Driving Italian Electric Bus Charging Station Market

In 2018, the Italian electric bus charging station market generated a revenue of $12.3 million and is projected to reach $44.8 million in 2025, registering a 20.3% CAGR during the forecast period (2019–2025). The market is growing due to the rising deployment of electric buses in public fleet and government support for electric buses. Electric bus charging stations are also known as electric vehicle supply equipment, charge points, and electric recharging points and are utilized to charge the batteries of electric buses.

In terms of type, the Italian electric bus charging station market is bifurcated into opportunity charger and overnight charger. The market was dominated by the overnight charger category during the historical period (2017–2018), holding a volume share of more than 65.0% in 2018. This was due to the rising preference of private and public agencies for overnight charging buses, as their operational characteristics are similar to those of diesel buses. This category is further going to account for the major volume share of the market during the forecast period.   

On the basis of power, the electric bus charging station market is divided into <22 kW, 22–50 kW, 51–150 kW, and >150 kW. In 2018, the 22–50 kW division held the largest volume share of the market. This was due to the fact that several electric bus manufacturers are launching DC fast charging buses, which facilitate fast charging in less time and in a cost-efficient manner. The fastest growth is predicted to be witnessed by the 51–150 kW division during the forecast period.

A key driving factor of the Italy electric bus charging station market is the increasing support by the government for the adoption of electric buses. For example, the Italian government has kept aside an amount of $4,371.55 million for the time period of 2019–2033 for shifting to electric and other new-energy-fueled buses in sub-urban and urban areas. Because of such initiatives, the traditional buses in the urban areas are projected to be replaced by electric buses. Major cities such as Milan, Cagliari, and Turin are changing their public transport rapidly.

The introduction of fast-charging stations is creating wide opportunities in the Italian e-bus charging station market. Various regions in the country are focusing on reducing their carbon emissions, due to which cities and municipalities are increasingly becoming inclined toward clean transportation, such as electric buses. This growing interest in electric buses in the country has led the public-owned utilities and private companies to increase their focus on installing fast-charging infrastructure. Attributed to this, battery electric buses will be able to offer uninterrupted service without carrying large batteries.

A key trend in the electric bus charging station market is the increasing preference for opportunity charging buses. The reason for this is the advantages provided by such buses over depot charging system-based buses. Overnight charging is required in depot charging buses, due to which their battery is larger. The large battery increases the weight of the buses and requires significant space in the bus. In addition to this, range of the bus is affected as well. Because of these factors, the preference for opportunity charging system-based buses is on the rise in the country.

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Thus, the market is growing considerably due to the rising support by the country’s government for increasing the adoption of electric buses. 

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U.K. Electric Bus Charging Station Market Witnessing Growth due to Rising Popularity of Electric Buses

From valuing $13.3 million in 2018, the U.K. electric bus charging station market is expected to garner $95.5 million in revenue by 2025, registering a 30.7% CAGR during the forecast period (2019–2025). The major factors having a positive influence on the market are the inclusion of electric buses in public fleet and the increase in government initiatives in popularizing these buses and providing the required infrastructure. Charging stations, also known as electric recharging points that are used to recharge an electric bus’s batteries are termed as electric bus charging stations.

Based on type, the classifications of the U.K. electric bus charging station market are opportunity and overnight chargers. In 2018, with more than 95.0% sales volume, the market was led by overnight chargers due to their popularity among public and private transport agencies for charging buses overnight as these buses have larger batteries to operate over longer distances. Further, the falling prices of batteries have also contributed in their demand as they are now competitively priced with opportunity charging buses. 

On the basis of power, the U.K. electric bus charging station market is categorized into <50 kW, 50–150 kW, and >150 kW. The largest market share in 2018 was held by the <50 kW category. The main reason behind the popularity of these chargers was their cost compared to chargers of higher power ranges. In the forecast period, the highest CAGR is projected to be witnessed by the >150 kW category. This can be credited to the rising demand for larger batteries, which would take longer to charge, thereby driving the demand for more powerful chargers.

The U.K. electric bus charging station market is observing the trend of increasing procurement of overnight charging buses.  Battery-run electric buses are presently available in two models — buses meant for short range travel with a smaller battery, and an extended-range bus with a larger battery, which gets charged overnight. Buses with larger battery were more in demand as they have similar operational characteristics to diesel buses. Previously, being equipped with larger batteries, overnight charging buses were costlier than opportunity charging buses; the reduction in battery prices in recent years have further contributed to their popularity. 

The U.K. electric bus charging station market is witnessing growth due the rising number of electric buses in the public transport fleet, which is mainly being supported by the government. Buses procured by the government are deployed for various purposes, such as military, transit, and public transport. Further, at the local level, electric buses are being integrated into the public transportation system, as the country is strongly committed to curbing vehicular pollution. For instance, in the U.K., approximately 4.0% of newly procured buses in 2018 were engineered to produce no emissions.

The major opportunity for growth for the U.K. electric bus charging station market lies in the surging demand for wireless charging of electric buses. Even though the initial installation cost of wireless charging infrastructure is high, these charging systems are becoming popular among users. A depot charger takes about 4–8 hours for charging the battery of an electric bus, whereas a conductive charger only takes 5–7 minutes to charge the same battery. This particular type of charger uses cordless technique and can effectively decrease the off-road time while traveling.

Therefore, the market for electric bus charging station in the country is headed toward a bright future in the forecast period amidst rising environmental concerns.

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Rising Demand for Electric Vehicles Driving Electric Vehicle Component Market

In 2018, the global electric vehicle component market reached a value of $22.2 billion and is projected to attain $157.4 billion by 2025, advancing at a 29.4% CAGR during the forecast period (2019–2025). The market is witnessing growth because of the rising adoption of electric vehicles (EV) and declining cost of the components used in them. On the basis of end-use, the market is bifurcated into original equipment manufacturers (OEM) and aftermarket, among which, the larger demand for electric vehicle components was created by the OEMs division in 2018.

When component is taken into consideration, the electric vehicle component market is categorized into battery pack, controller, electric vehicle supply equipment, high-voltage cable, thermal management system, motor, DC-DC converter, power distribution module, and vehicle interface control module. The battery pack category is projected to account for the major share of the market during the forecast period, as it the most important part of the vehicles. Moreover, battery pack accounts for approximately 35–50% of the total cost of electric vehicles, which is why this component is the major revenue contributor to the market.

Among all the regions, namely Europe, Asia-Pacific (APAC), North America, and Rest of the World, the largest share of the EV component market was held by the APAC region in 2018. This was due to the increased usage of electric vehicles in the region, primarily in China. Factors including rising government support for EVs in the form of subsidies, increasing environmental concern, and growing ownership costs of internal combustion engine-based vehicles are leading to the use of electric vehicles in the region.

People are becoming more aware regarding the adverse effects of vehicular emissions on the environment, which is why the adoption of EVs is rising, further driving the electric vehicle component industry. At the present time, approximately 43% of the total amount of greenhouse gases being emitted in the world is contributed by the automobile sector. Hence, several countries are taking initiatives to curb the emissions by reducing the use of fuel-based vehicles. The increased usage of electric vehicles will result in the reduction of the amount of carbon dioxide being emitted into the environment.

Furthermore, the governments of different countries are increasingly taking steps for supporting the adoption of electric vehicles. Tax exemptions, financial incentives, and purchase rebates are some of the supportive initiatives taken by governments, which are predicted to drive the electric vehicle component market in the coming years. For example, the federal government in the U.S. provides an Internal Revenue Service tax credit of $2,500 to $7,500 per new EV purchased, where the tax credit amount depends on the size of the vehicle and battery capacity.

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A key trend that is being observed in the electric vehicle component market is the rising preference for induction motors over synchronous motors. The reason for this is that the induction motors have improved efficiency and aid in reducing the magnetic losses by decreasing the inverter voltage. In addition to this, these motors need minimal maintenance because of the absence of slip rings, brushes, and commutators, which is why their popularity has increased in the recent years.

Thus, the market is growing due to the growing adoption of electric vehicles, which is further taking place due to the rapid environmental degradation and rising government support for the adoption of electric vehicles.

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Auto-Injectors Market to Grow due to Rising Prevalence of Anaphylaxis

These days, people are becoming more and more inclined toward home healthcare, especially elderly people. Home healthcare allows one to get better in a more comfortable and convenient way. The need for revisiting hospitals frequently for treatment is reduced significantly, and the patient is able to improve or maintain his/her condition in a more independent way. Attributed to these reasons, manufacturers across the globe are increasingly focusing on developing medical equipment which is patient-compliant and user-friendly. Moreover, due to the enhancing medical services at the bed side, the point-of-care medication administration is also increasing.

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One of the major developments in this scenario is that of auto-injectors, which are pen-like medical devices utilized for injecting a specific dose of drugs into the patient. These spring-loaded syringes are especially designed for the safe administration of drugs with ease. Auto-injectors further aid in reducing medication errors and increasing safety. It is due to these advantages of auto-injectors over traditional devices that the auto-injectors market is expected to register a significant growth in the coming years. Prefilled and fillable are two types of auto-injectors, which are available in the market currently; between these, prefilled auto-injectors were more in demand in the past.

In terms of manufacturing design, auto-injectors are further of two types, namely standardized and customized. In the past, standardized auto-injectors were used more, as they are designed to be assembled with ease and help in the self-administration of drugs, without altering the primary packaging, by making use of automated pathways, thereby reducing the chances of accidental injuries or dosage errors. Auto-injectors are used in the management of several diseases, such as multiple sclerosis, anaphylaxis, and rheumatoid arthritis. Among all these, anaphylaxis has been the largest application area of auto-injectors in the past. 

Hence, the need for auto-injectors is rising because of the increasing prevalence of anaphylaxis and preference for home healthcare.

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Asia Tire Market Business Revenue Forecast

The Asia automotive tire market was valued at $61,523.4 million in 2018 and is expected to reach $109,007.4 million by 2024, witnessing a CAGR of 10.0% during 2019–2024. Categorized on vehicle type, passenger cars held the largest volume share in 2018.

Furthermore, commercial vehicles are expected to witness notable growth in their sales on account of their growing usage in logistics and construction activities. This, in turn, would propel the demand for tires for light, medium, and heavy commercial vehicles, and hence boost the APAC automotive tire market.

Growing Popularity of Next-Generation, High-Performance Tires is a Key Trend Witnessed in the Market

Growing popularity of next-generation, high-performance tires is the key trend observed in the APAC automotive tire market. The fuel-efficient and low-noise high-performance tires have been mainly used in luxury passenger cars; and in recent years, they have made inroads in crossover utility vehicle and premium sport utility vehicle segments. The mainstream adoption of these tires is encouraging tire makers, across the world, to invest in new technologies for the development of ultra-high-performance tires to increase speed and overall performance of tires. Many manufacturers are developing these tires by employing patented technologies, specialized silica compounds and polymers, and unique tread designs to meet changing consumer demands and achieve desired performance. In addition, with increasing tire demand, several tire manufacturers are offering next-generation, high-performance tires with ride comfort, all-season or multi-season driving capacities, and less tread wear.

Competitive Landscape of the APAC Automotive Tire Market
The APAC automotive tire market is consolidated in nature, with the existence of established manufacturers such as The Goodyear Tire & Rubber Company, Continental AG, Pirelli & C. S.p.A., Cooper Tire & Rubber Company, Michelin Asia-Pacific Pte. Ltd., Yokohama Rubber Co. Ltd., Bridgestone Asia Pacific Pte. Ltd., Hankook Technology Group Co. Ltd., Apollo Tyres Ltd., Nokian Renkaat Oyj, and Sumitomo Rubber Industries Ltd.

Collaborations and acquisitions and facility expansions are key strategies adopted by the players to increase their foothold in the APAC automotive tire market. For instance, in August 2018, Continental AG announced its plans to acquire the Kmart Tyre and Auto Service (KTAS) chain for approximately $244 million. With 258 branches and more than 1,200 employees, KTAS is one of the largest tire and auto service chains in Australia. The acquisition is part of the company’s Vision 2025, which targets systematic expansion of its tire division across the world.

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