Fuel Cell Commercial Vehicle Market to Set Phenomenal Growth from 2019 to 2025

The global fuel cell commercial vehicle market is expected to witness notable growth during the forecast period 2019–2025, on account of favorable incentive programs by governments of several countries to boost the adoption of eco-friendly vehicles. Several governments across the globe are focusing on decreasing air pollution by encouraging the adoption of eco-friendly vehicles, which include fuel cell vehicles. These vehicles do not discharge harmful pollutants, such as hydrocarbons, carbon monoxide, and volatile organic compounds.

On the basis of vehicle type, the fuel cell commercial vehicle market has been categorized into light commercial vehicle (LCV), medium commercial vehicle (MCV), and heavy commercial vehicle (HCV). Among these, LCVs held the largest share in the market in 2018. This can be mainly attributed to the high demand for LCVs, supported by the higher adoption of fuel cell technology in these vehicles as compared to other vehicles.

Geographically, Asia-Pacific (APAC) is expected to account for the largest share in the fuel cell commercial vehicle market during the forecast period. The increasing demand for low- or zero-emission vehicles in several countries of the region, coupled with the growing focus of fuel cell stack manufacturers on China for product manufacturing, is expected to boost the market growth in APAC.

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Drivers

Awareness about the advantages of green energy vehicles over internal combustion engine vehicles is increasing across the world. Many countries are implementing plans to promote the adoption of alternate-fuel vehicles, which, in turn, is boosting the growth of the fuel cell commercial vehicle market. For instance, the Ohio Development Services Agency runs the Alternative Fuel Transportation Program, which offers financial support to local governments, non-profit organizations, businesses, and school districts for the installation and purchase of alternative fueling, blending, and distribution facilities or terminals. Furthermore, in Luxembourg, buyers of fuel cell vehicles are benefitted from a tax allowance on the registration fees of $5,907.5 (EUR 5,000).

Competitive Landscape

The global fuel cell commercial vehicle market is at the nascent stage, witnessing gradual adoption of fuel cell vehicles across various countries. Major market players include Daimler AG, General Motors Company, Hyundai Motor Company, New Flyer Group Inc., Toyota Motor Corporation, Volkswagen AG, Ford Motor Company, and Tata Motors Limited.

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How is Rising Incidence of Burn Injuries Contributing in Skin Replacement and Substitutes Market Growth?

A World Health Organization (WHO) study presented the statistics regarding burn injuries in 2018, which mentioned that every year, about 180,000 people succumb to burn injuries, with majority of the incidents occurring in low- and middle-income countries. Additionally, burns are considered to be among the leading causes of disability-adjusted life years in these countries. One example is of India where more than 1,000,000 people suffer from moderate to severe burn injuries every year. Furthermore, in nations, such as Pakistan, Egypt, Colombia, and Bangladesh, about 18% children become permanently differently abled and about 17% become differently-abled due to burn injuries.

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As these injuries result in extensive skin damage, one of the most important ways to treat them is to use the skin replacement and substitutes. These are referred to as a skin graft, for which, the skin is collected from a suitable site and then transplanted on to the affected area of the recipient’s body. This is done to encourage the regeneration of the affected tissue and the formation of new functional skin. These substitutes are majorly available as cellular and acellular products.

During 2014–2018, acellular skin replacement and substitutes were the most popular. In fact, in the coming time as well, they would continue to witness the highest demand. These products consist of acellular components, such as collagen or nylon mesh, which act as a silicon membrane and a dermis. Further, they contain biological matrix and biologically-processed matrix. Besides being suitable for skin replacement in pediatric population, these products can be used to treat superficial as well as excised wounds. A P&S Intelligence study has predicted the skin replacement and substitutes market to advance at a 6.3% CAGR in the coming years.

With the increasing knowledge about medical sciences, it has been established that the skin grafts taken from one individual, when administered into the other, may trigger a fatal immune response. To take care of this, extensive research has been going on in the biomedical field for the development of bio-engineered skin. One of the methods that have been effective in skin regeneration is by using skin scaffolds, which are essentially 3D structures that are seeded with keratinocytes and placed at the wound site. This would help in providing protection against microorganisms, toxins, and other harmful agents. Some popular products that have already been developed and market are Dermagraft, Transcyte, and AlloDerm.

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Bioinformatics Market Overview, Key Players, Growth Opportunities and Forecast to 2024

The introduction and adoption of cloud computing and nanopore technology are expected to offer numerous opportunities in the global bioinformatics market. The nanopore technology has been projected for getting used in the study of crop science, deoxyribonucleic acid (DNA), ribonucleic acid (RNA), proteins and small molecules with a range of applications in personalized medicine, and scientific research.

Bioinformatics is a discipline that deals with the retrieval, storage, processing, management and analysis of organic information through computational techniques. Bioinformatics plays an important role in drug innovation and improvement. The involvement of bioinformatics in storing, retrieving, analyzing and forming biological information helps in efficiently managing enormous database associated with drug innovation and development.

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Bioinformatics technologies are used in various pharmaceutical and biotechnology sectors. They are mainly used in the medical sector, which is driven by the increasing use of bioinformatics for the drug development and discovery process. Falling prices of DNA sequencing and increasing government initiatives to boost bioinformatics based life sciences research activities are the two major growth drivers of the global bioinformatics market. Some of the other drivers contributing to growth the of global bioinformatics market includes, increasing demand for bioinformatics as a consulting solution by pharmaceutical manufacturers and medical devices, in an effort to accelerate and improve manufacturing processes, with the increasing need for bioinformatics in data incorporation and warehousing.

The Asia-Pacific bioinformatics market is projected to be the fastest growing regional market in the forecast period. High availability of trained labors in countries such as, China and India with low labor costs has inspired manufacturers to stick upon contract research outsourcing strategies for limiting costs, which has enormously contributed to the growth of Asia-Pacific bioinformatics market.

Some of the key competitors within the global bioinformatics market include Tripos, LP, Affymetrix, Inc, Agilent Technologies, Illumina, Inc., Helicos Biosciences Corporation, IBM Life Sciences, Thermo Fisher Scientific Inc, Rosetta Inpharmatics LLC, Celera and others.

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ADAS (Advanced Driver Assistance Systems) Market Witnessing Monumental Growth

Road accidents claim 1.35 million human victims across the world each year, claimed the World Health Organization in 2018. Failure to pay attention while driving, over-speeding, and driving under the influence of alcohol or drugs are some of the major human errors responsible for traffic crashes. Other causes include vehicle malfunction, due to which the vehicle can spiral out of control. To curb the number of road fatalities, governments across the world are making the integration of safety features in automobiles mandatory. Advanced driver assistance systems (ADAS) are among such features, which, apart from helping prevent collisions, also offers better driving comfort.

The ADAS market, in 2015, valued $19.8 billion, and by 2022, it is predicted to grow to $99.6 billion, at a CAGR of 27.0% during the forecast period (2016–2022). Tire pressure monitoring system, drowsiness monitoring system, park assist system, adaptive cruise control (ACC) system, blind spot detection system, lane departure warning system, and adaptive front lighting system are the various types of ADASs integrated in automobiles. Among these, ACC systems were the most popular during 2012–2015, as they help prevent crashes, by altering the speed of the vehicle, to maintain a safe distance from the one in front.

Across the world, regulations to make such systems compulsory in automobiles are being formed. For instance, the European Union has targeted a 50% reduction in road accidents between 2020 and 2030. Similarly, the National Highway Traffic Safety Administration (NHTSA) of the U.S. has made it mandatory for automakers to comply with the Federal Motor Vehicle Safety Standards (FMVSS). Such regulations continue to push the demand for safety features in vehicles, including ADAS.

Another reason for the increasing installation rate of ADAS is the rise in the number of high-net-worth individuals (HNI). As economic prosperity across the world is resulting in surging disposable income, people are starting to spend more on luxury goods, such as automobiles with advanced technology. Several countries, such as India, China, Italy, France, Switzerland, Russia, and Indonesia, have witnessed a significant growth in the HNI population in the past few years. As per a joint report by Royal Bank of Canada and Capegemini, the number of HNIs in India increased from 130,000 in 2009 to 200,000 in 2014.

With the rising demand for ADAS, solution providers are coming up with improved technologies. For instance, with Continental AG’s eHorizon solution, data can be easily shared between vehicles and cloud. Similarly, Autoliv’s driver assistance product, launched in 2014, offers light-based touchless sensing, with visual guidance. Another among the technological advancements are multifunctional sensors, with which just one sensor can perform numerous functions. This does away with the need for individual sensors, thereby helping automakers keep the purchase price of their vehicles competitive.

Across the world, the ADAS market growth in Asia-Pacific (APAC) is predicted to be the fastest during the forecast period. This would be due to the rapid urbanization and increasing demand for high-end vehicles, as a result of the growing disposable income in the region. China and India are two of the largest automobile producers and buyers in the world, and the road accident and resulting fatality rates in the countries are also quite high. Both these factors are forecast to have a combined effect on the popularity of ADAS in the region.

Thus, the demand for advanced driver assistance systems would continue increasing, as people become more aware about driver safety features and their spending power rises further.

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Electric Vehicle Communication Controller Market to Reach $553.4 Million in 2024

The requirement for electric vehicles across the world is increasing rapidly due to the growing levels of pollution. People are becoming more and more aware regarding the degrading quality of the environment and thus are opting for vehicles that do not emit harmful fumes. The governments around the world are also providing support for increasing the adoption of electric vehicles. A major problem regarding the adoption of electric vehicles was the lack of electric vehicle charging infrastructure, which is why the governments are providing subsidies and tax exemptions to the charging infrastructure providers.

Attributed to these factors, the situation regarding charging infrastructure for electric vehicles is improving, which is further resulting in the growing demand for electric vehicle communication controller (EVCC). According to a study conducted by P&S Intelligence, in 2018, the global Electric Vehicle Communication Controller Market reached a value of $97.0 million and is expected to generate $553.4 million in 2024, advancing at a 34.8% CAGR during the forecast period (2019–2024). EVCC and supply equipment communication controller (SECC) are two types of systems used in electric vehicles, where EVCC implements a communication between the vehicle and SECC, and SECC implements a communication between one or multiple EVCCs for interaction with secondary actors.

When charging type is taken into consideration, the EVCC market is bifurcated into inductive and conductive. Between these two, the larger demand was created for conductive charging option during 2014–2018 and the situation is projected to remain the same during the forecast period as well. The primary reason for this is the early adoption and low price of conductive chargers for personal vehicles across the globe. Furthermore, plug-in electric vehicles, which make use of conductive chargers, are dominating the electric vehicle domain at the present time. Because of this, the installation rate of conductive chargers is more than that of inductive chargers.

Attributed to the growing adoption of electric vehicles, the investments in charging infrastructure are also increasing. In addition to the installation of new charging infrastructure, the existing charging infrastructure needs to be improved for easy accessibility and higher efficiency. Companies in the domain are making use of government provisions for producing electric vehicles and charging infrastructure, which is driving the demand for EVCC. For example, Chargefox Pty. Ltd. received an investment of $15 million from different investors and the company will utilize this amount for installing rapid electric vehicle chargers across Australia.

Among the different regions, namely Europe, Asia-Pacific (APAC), North America, and Rest of the World, the highest demand for EVCCs was created by the APAC region during 2014–2018. This was ascribed to the increasing adoption of electric vehicles and installation of related charging stations in China in recent years. Due to rising government support, decreasing total cost of ownership, and surging environmental concerns, China is witnessing a high requirement for electric vehicles, which, in turn is driving the demand for EVCCs in the country. The fastest growth in demand for EVCCs is predicted to be registered by Europe in the near future.  

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Scooter Sharing Market to Grow by Five Times during 2019-2025

Across the world, the rate of industrialization and level of urbanization are increasing, which are resulting in the growing spending power. People are now able to purchase stuff that they couldn’t earlier; a classic example is personal vehicles. While the primary purpose of buying them has always been transportation, in certain places, particularly developing countries, people buy them just as a status symbol. The booming automotive sales have led to several issues, such as air pollution, as vehicular exhaust contains many harmful gases, including sulfur dioxide, nitrogen oxides (NOx), and carbon dioxide (CO₂). To tackle the issue, governments and international organizations are encouraging people to shun private transport and go for public transport instead, especially for short distances.

One of the concepts in this regard, which is rapidly becoming popular, is scooter sharing, which lets commuters rent such small vehicles for short-distance traveling. From $99.8 million in 2018, the scooter sharing market is predicted to grow to $553.0 million by 2025, at a 24.4% CAGR during the forecast period (2019–2025). Shared scooters can be hired for one-way as well as round trips, of which one-way trips have been more popular. People are increasingly using such vehicles for first- and last-mile connectivity and also as part of a multimodal approach, wherein scooters are ridden to reach a bus stop or metro station.

As scooters take up less space on the roads as well as require smaller parking areas, the government of several countries are promoting these for regular commuting. With the increase in the number of vehicles on the roads, as a result of the increasing disposable income and population, urban congestion is also rising, with pedestrians barely getting space to cross roads in certain places. With more people opting for shared scooters, it is being expected that road congestion will come down and traffic flow will be a lot smoother than presently.

Another advantage of traveling by shared scooters is convenience and cost savings. These services do away with the need to own a vehicle, which is a costly affair, owing to the high vehicle purchase and gasoline/diesel prices, insurance premium, parking fee (in certain places), and the added expenditure on regular maintenance and servicing. Users only have to pay an initial registration or scooter unlocking amount and then additional charges on the basis of the journey time and distance, the charges for all of which are quite low. Further, services are generally available throughout the day, with a simple tap on the smartphone app of sharing companies.

To make access to services better, shared scooter firms are leveraging the platform as a service (PaaS) technology to develop their own mobile apps. Under the model, vendors subscribe to a software, usually available on the cloud, to carry out business and also save on operational costs. Another among the technological developments in the shared mobility domain is internet of things (IoT), wherein vehicles have their own network connection. This enables service providers handle navigation, optimize the sharing process via efficient vehicle tracking and monitoring, and analyze problems from a remote place.

Presently, Europe displays the highest usage rate of scooter sharing services, owing to the large number of regional cities which have such mobility programs. Though the concept originated in San Francisco, U.S., it has witnessed the fastest expansion in Europe, where such services are available in over 60 cities, currently. During the forecast period, the scooter sharing market growth in Asia-Pacific (APAC) is predicted to be the most rapid. The primary reason behind this would be the swift adoption of shared scooters in Taiwan and China.

Hence, as more people realize the negative effects of the growing number of vehicles, they would start hiring shared scooters, at least for shorter distances, more often.

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Battery Management System Market Energized says by P&S Intelligence

The global automotive battery management system market is forecasted to witness significant growth in the coming years, owing to increasing demand for hybrid electric and battery electric vehicles. The increase in the demand for these vehicles is a result of the implementation of stringent government regulations with respect to environment degradation and government incentives in the form of subsidies, grants, and tax rebates to encourage the use of eco-friendly modes of transportation.

Based on application, the automotive battery management system market is categorized into passenger cars, commercial vehicles, golf carts, and e-bikes. Of these, passenger cars held the largest share in the market in 2017, recording the highest sales volume. Besides, the category is expected to continue leading the market in the coming years, owing to increasing urbanization and rising disposable income of people in developing economies of the world.

Geographical Outlook

APAC, led by China, recorded the highest sales volume in the automotive battery management system market in 2017. The region is expected to continue holding the largest market share in the coming years, mainly on account of China’s government policies and initiatives favoring the production of automobiles, particularly electric vehicles. India and Japan are also expected to play an important role in the growth of the APAC market in the near future. The government of many Asian countries has plan to end the production and sales of gasoline and diesel vehicles in coming years. This move is expected to increase the market of electric vehicles in the region, benefiting the growth of the market during the forecast period.

Various environmental policies and regulations coupled with governments’ support in the form of subsidies, grants, and tax rebates are the key factors driving the growth of the automotive battery management system market. This is because the sales of hybrid electric and pure electric vehicles directly affect the market demand for automotive battery management systems. Governments, across the world, are working toward reducing carbon emission levels through the complete electrification of both public and private vehicles. In addition, environmental protection and awareness agencies are encouraging the adoption of eco-friendly vehicles, globally.

The global automotive battery management system market is witnessing a number of partnerships, collaborations, and mergers and acquisitions among major players. Apart from this, many automotive electronics providers have added battery management systems as one of their verticals to their business. Besides, the competition in the market is expected to increase in the near future. The market primarily comprises component vendors and battery management system manufacturers. Some of the key players in the market are Analog Devices Inc., NXP Semiconductors NV, AVL LIST GmbH, Texas Instruments Inc., Continental AG, HORIBA MIRA Ltd., Intel Corporation, Johnson Matthey PLC, Robert Bosch GmbH, and Toshiba Corporation.

Also Read About "Electric Vehicle Battery Market" by P&S Intelligence

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