Automotive Fuel Tank Market Report Competitive Analysis by 2024

In the past decade, steel fuel tanks were majorly used by automotive producers, whereas in the current scenario, plastic fuel tanks are being mostly used. The key reasons for the drop in demand for steel fuel tanks are safety, weight, permeability, packaging and cost associated with it. Around 95% of the total fuel tanks in Europe, 85% in U.S. and 40% in Asia are made of plastic. The main reasons behind the increased use of plastic fuel tanks are its light weight, resistance to corrosion, and ease of molding into unusual shapes.

The automotive fuel tank market is driven by increasing trend of vehicle weight reduction, growing global vehicle production, and norms pertaining to evaporative emission. The increasing demand for vehicles, coupled with capacity expansion by OEMs in emerging economies has driven the global production of vehicles. The production volume for passenger car and light commercial vehicles (LCV) in Asia-Pacific accounted for more than 50% of the global production. The increasing production in the region is complimented by intensifying demand for passenger cars and LCV in the region. The improving economy and standard of living in countries such as China and India have resulted in increased sales volume of automotive. The high automotive production volume in Asia-Pacific has made it an attractive fuel tank market.

By 2022, Asia-Pacific is expected to be the largest automotive fuel tank market, followed by North America and Europe. Asia-Pacific is also expected to be the fastest growing market for automotive fuel tank during the forecast period, owing to the expected increase in the sales and production of vehicles, increasing demand for lightweight vehicles, and strict government regulation. In 2015, China, South Korea, India, and Japan were the major consumers of automotive fuel tank in the region.

Some of the major competitors in the global automotive fuel tank market include Benteler AG, TI Automotive Inc., Yachiyo Industry Co. Ltd., Magna International Inc., Kautex Textron Gmbh & Co. KG., FTS Co., Ltd., The Plastic Omnium Group, Martinrea International Inc., Unipres Corporation, YAPP Automotive Parts Co., Ltd., and SMA Serbatoi S.P.A.

Market Segmentation

By Material

• High-Density Polyethylene (HDPE)

• Steel Fuel Tank

• Aluminum Fuel Tank

• <45 L

• 45 L – 70 L

• >70 L

By Capacity

• <45 L
• 45 L – 70 L
• >70 L

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How is Rising Requirement for Advanced Healthcare System Driving Medication Management Market?

Proper coordination amongst patients and healthcare providers is a vital aspect in the healthcare industry, as its lack adversely impacts the quality of healthcare and its cost, which in turn results in the fragmentation of the healthcare information, such as medical history, billing, administrative data, diagnosis, and patient demographics. Due to the fragmentated healthcare system, various decision makers are involved in the treatment of an individual patient suffering from a particular illness. In order to deal with this, the healthcare sector is in the need for healthcare information technologies (HIT). The employment of HIT helps in improving the quality of healthcare by reducing the rational burden of practitioners, clinical decision making, and computerizing patient safety practices. Furthermore, HIT helps enhance the communication between healthcare providers and patients and, in turn, provides better, coordinated care and reduces medication errors.

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One of the solutions provided by HIT is the medication management system, which helps in compiling data related to rehabilitation, care, and medication. These systems use wireless communication solutions for heterogenous computing for the management of medicines. Trillions of bytes of data is produced through this technology as it connects various devices and sensors to the internet via mixed access networks through other technologies. 

According to a study conducted by the P&S Intelligence, the global medication management market size is predicted to generate a revenue of $4.3 billion, advancing at a CAGR of 26.1%, in the near future. Various software are deployed by this technology, including computerized physician order entry (CPOE), medication administrative software, automated dispensing system (ADS), clinical decision support system (CDSS), and inventory management. Among all these, CPOE was the most in demand during 2011–2014. The fastest growth in demand is projected to be witnessed by the category of CDSS in the coming years.

The popularity of medication management systems and software in healthcare facilities is increasing because of the technology’s advanced and innovative applications, such as electronic medication administration records facilities, automatically dispensing applications, and double-checking medication administration properties. The chances of medication errors and adverse drug effects are reduced significantly due to these applications of medication management systems. Apart from this, medication management systems and software play an important role in home healthcare settings for the medication delivery and dosage calculations. Smartphone-based self-management systems help remind patients, who are unable to remember their entire medication regimen, with real-time medication monitoring technology. Hence, due to such innovative applications of medication management systems and software, their demand is expected to increase in the near future. 

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Geographic Information System (GIS) Market Predicted to Grow at 10.7% CAGR in Coming Years

The Office of Information Management and Technology in Hawaii (the U.S.) offers a 3D geographic information system (GIS) map, which covers 19,500 measured buildings of Honolulu, as a part of its open data program. Likewise, other countries, such as China and India with new and proposed smart cities, are predicted to adopt 3D-based virtual reality geographic information systems (VRGIS). Since 3D GIS is an extension of GIS, it becomes important to get acquainted with the basic term. A GIS is a system that is designed to store, capture, manipulate, manage, analyze, and present all sorts of geographical data. The data captured can be used for mapping of specific places, mapping quantities, densities, and changes related to that place, and finding what is nearby or inside a place. These systems have gained immense popularity in urban development and city planning in emerging countries, as they provide a detailed and improved insight.

Modern maps are developed keeping in mind the easy accommodation of new data as it becomes available, which is leading to the increasing adoption of 3D GIS maps. As per Environmental Systems Research Institute Inc., due to the shift from 2D mapping of smart cities to the 3D model, 3D-based urban planning is growing rapidly. 

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The system finds application in several areas, such as oil & gas exploration and refining, aerospace & defense, government, engineering & business services, healthcare, telecommunications, transportation & logistics, and water & wastewater. In the coming years, the adoption of GIS is predicted to be steady in the telecommunication sector due to the growth in wireless communication infrastructure in Middle East and Africa.

The government sector has been and is projected to be the largest user of the GIS technology; the sector is investing heavily in GIS. Such solutions are used by the government for application in military, aerospace, and homeland security. For instance, for routing vehicles in mainland China, the Chinese government introduced a national street-level mapping project. Similarly, due to the initiation of the Digital India Initiative, the central government and private sector companies are predicted to invest in improving the location-based services infrastructure and internet connectivity across the country. India is also projected to develop GIS-based data for land management, land records, and ownership details. Initiatives such as these have compelled GIS vendors to come up with innovative products that meet the needs of users, especially in developing countries.

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Major players in the market are focusing on product launches to increase their consumer base. For instance, In May 2019, Esri launched ArcGIS Excalibur, a web application that enables discover, search, and image exploitation for timely intelligence. ArcGIS Excalibur adds new value to imagery specialists as an intuitive application that helps to streamline structured observation management (SOM) workflows and helps to introduce users’ image exploitation and analysis. Furthermore, in 2019, IQGeo Group plc launched geospatial platform that takes a reality-centric approach, designed for infrastructure companies, providing real-time network view to the companies.

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How is Rising Demand from End-Use Industries Driving Cleanroom Doors Market?

Cleanrooms are a necessity for biotech, pharmaceutical, and medical devices industries as products manufactured by these industries need to be produced in suitable environmental conditions. Take for instance the preparation of pharmaceuticals such as injections, vaccines, and ointments; they need to be manufactured in a microbe and particulate-free environment. Similarly, medical devices, such as surgical equipment and implants, require a sterile environment for their packaging. These products can only be prepared in cleanrooms as they offer suitable conditions by reducing the concentration of contaminants, such as microbes, dust, aerosols, and chemical vapors. Due to these factors, the demand for cleanrooms is increasing, which in turn is leading to the rising requirement for cleanroom doors since they are an important part of cleanrooms.

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Cleanroom doors minimize air leakage, provide tight environmental separation, and maintain air pressure differential between the cleanroom and adjacent room. The low quality of these doors can cause alteration and degradation of the quality of products that are being manufactured in the cleanrooms.

According to a study conducted by the P&S Intelligence, the global cleanroom doors market is projected to advance at a 5.3% CAGR in the coming years. Various types of cleanroom doors include sliding, roll-up, and swing. Among these, swing doors were the most in demand during 2012–2015 and the situation is going to be the same in the near future as well. These doors are most commonly used in cleanrooms due to their easy accessibility and low cost. Swing doors are hinged on double-sided hinges and can be operated electrically and manually.

At the present time, the demand for customized cleanrooms that are equipped with suitable pressure conditions and temperature is on the rise. Due to this, cleanroom door manufacturers are also focusing on designing and manufacturing doors with certain features, such as incorporation of lubrication-free design and stainless-steel shrouds and side frames. One of the key aspects to consider for the door manufacturers and end users is the site-specific need in the end-use industries, as customized cleanrooms and cleanroom doors have specific applications in medical devices, pharmaceutical, and biotechnology industries. Customized cleanroom doors are manufactured with different features, such as vision panels, interlock and magnetic lock systems, push plates, and activation devices, as per the specific requirements.

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APAC LED Lighting Market Set for Rapid Growth Forecast 2019-2024 | Key Players: Signify N.V., Osram Light AG, Cree Inc., Zumtobel Group

Increasing government initiatives aimed at promoting energy-efficient lighting systems, growing number of smart city projects, and longevity of LED lights are driving the growth of the sector. Due to various benefits of LED lights, such as low energy requirement, electricity expenditure reduction capabilities, and better build, their demand from businesses has increased.

The Asia-Pacific LED lighting market was valued at $27.5 billion in 2018 and is predicted to witness a CAGR of 13.0% in the forecast period (2019–2024).

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In 2018, among China, India, Japan, South Korea, Australia, and rest of APAC, China held the largest revenue share in the market, owing to its growing number of urban lighting projects for buildings, roads and railways, rising government spending on bettering the lighting system in shopping malls, offices, and hospitals, and surging demand for energy-efficient and eco-friendly lighting products.

With the help of energy-efficient lighting, the greenhouse gas emission and thermal pollution can be minimized. Government initiatives toward checking carbon emissions are playing an important part in supporting the growth of the APAC LED lighting market. In 2015, the Government of India launched the Street Light National Programme (SLNP) to encourage energy efficiency. SLNP is aimed at replacing 35 million conventional lights with LED lights.

With the help of energy-efficient lighting, the greenhouse gas emission and thermal pollution can be minimized. Government initiatives toward checking carbon emissions are playing an important part in supporting the growth of the APAC LED lighting market. In 2015, the Government of India launched the Street Light National Programme (SLNP) to encourage energy efficiency. SLNP is aimed at replacing 35 million conventional lights with LED lights.

Hence, with the growing initiatives of governments toward energy-efficient lighting, building new residential houses and commercial buildings, and development of smart cities with all modern facilities, the demand for LED lighting is escalating, thereby resulting in significant growth of the APAC LED lighting market.

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Car Rental Market: R&D Portfolio and Opportunity Analysis

The World Travel and Tourism Council reported that in 2018, a growth of 3.9% was witnessed by the global travel and tourism industry. It created more than 319 million jobs worldwide and amassed $8.8 trillion in 2018. This massive growth in the industry also boosted the growth of other related industries, such as car rental. Nowadays, tourists prefer renting cars to explore a new place as it gives them the flexibility of planning their own itinerary without the fear of relying on public transport system. Car rental services allow customers to travel to their choice of places as per their convenience. Further, the rising disposable income has also established the trend of more people taking short trips. Rather than taking their own vehicle, customers prefer renting cars; airport rentals are the most common as tourists rent a car immediately after landing in a new country and keep the car with them for the whole duration of their stay or drop them off at convenient drop-off points.

Witnessing a 7.9% CAGR, the car rental market is expected to generate a revenue of $122.6 billion in the coming years. Car rental services are offered via three different vehicle types:  luxury, executive, and economy. During 2014–2018, the economy vehicle type was used the most for car rental services. These cars are inexpensive and are smaller in size and have a seating capacity of four to five persons. Being smaller in size, these cars have a high fuel efficiency, which makes them a suitable option for rental services. Further, amidst growing environmental concerns, these cars are witnessing a high demand as their impact on the environment is not as severe as other cars. In the coming years, the luxury cars are predicted to register a faster growth in demand, as the global disposable income is improving. These cars offer superior performance, comfort, and have better configuration.

One of the key trends in the car rental market is the deployment of electric vehicles for rental purposes. In wake of rising concerns about vehicular emission, governments of many countries are bringing in stringent regulatory policies to cut down on such emissions. From offering subsidies and incentives to creating awareness about the harmful effects of conventional energy sources on the environment, governments and various organizations are working toward popularizing the use of electric vehicles. In Europe and the U.S., one of the rental companies, Sixt SE offers fully electric cars in the luxury segment, such as BMW i8, BMW i3, tesla Model X, and Tesla Model S. In India, in 2018, Zoomcar India Pvt Ltd. entered into a partnership with Mahindra & Mahindra Ltd for the deployment of electric cars for rental purposes. 

The popularity of the internet has resulted in the development of the online or digital car rental system, which is helping the car rental sector become more organized. Online car rental allows the consumers to shortlist the car of choice, and make bookings well in advance without the hassle of visiting the office. Further, majority of the companies have their own applications, which can be used by consumers to avail any assistance that they may need throughout the rental period. Therefore, the digitization of the car rental process has made it much safer, transparent, and cost-effective, which has been instrumental in making these services popular.

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Growing Demand in Retail Sector Driving Emotion Analytics Market

In 2018, the emotion analytics market generated $164.7 million and is projected to reach $1,419.2 million in 2024, advancing at a CAGR of 46.8% during the forecast period (2019–2024). The market is witnessing growth due to the surging demand in the automotive sector, rising adoption of business intelligence (BI) and data analytics, and increasing demand for emotion analytics in the retail sector. Emotion analytics software reviews non-verbal cues such as body language, gesture, and facial expressions and the tone of a person for providing richer insights into the human expression of emotion.

On the basis of type, the emotion analytics market is categorized into video analytics, speech analytics, facial analytics, text analytics, and others (which include electrocardiogram, eye tracking, and electromyography). Among these, the facial analytics category dominated the market in 2018 and is further predicted to retain its position during the forecast period. This is because a large number of enterprises are utilizing face analytics for analyzing customers’ feelings regarding their services and products through facial expressions, since facial expressions are strongly linked with emotions.

In terms of application, the emotion analytics market is divided into competitive intelligence, public safety & law enforcement, customer experience management, workforce management, sales & marketing management, and others (driver monitoring and market research). Among these, the largest share of the market was held by the customer experience management division in 2018. With the growing market competition, the expectations of the customers are changing, because of which the retailers are engaging in new initiatives and investments that are designed to cater to the needs of evolving customers.      

Another factor driving the emotion analytics market is the growing demand in automotive sector. The market players in the automotive industry are focusing on research and development activities for enabling emotion recognition features in cars, where the software installed in cars will respond intelligently to the expressions which are being expressed by the driver. The software allows gesture, eye movement recognition, touch, and detects the attentiveness of the driver, which is why the risk of road accidents will be reduced.

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A key trend being observed in the emotion analytics market is the use of emotion analytics in video games. Due to the rising popularity of video games the companies operating in the market are focusing on developing new solutions which are integrated with emotion analytics software in order to understand the emotion and behaviors of users. Such software helps companies in analyzing and understanding real-time emotions, including facial expressions, reactions, and feelings such as fear, joy, and anger, at every stage of the game, which further aids the companies to gain better insights.

Hence, the market is growing because of the growing demand of emotion analytics in the automotive and retail sectors. 

About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

To More Information Visit : P&S Intelligence

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