India Gasoline Scooter and Motorcycle Market - Unraveling Challenges and Opportunities

The rising income levels in Tier 2 and Tier 3 Indian cities is resulting in increasing sale of scooters and motorcycles, which run on gasoline. Valued at $22.0 billion in 2017 by P&S Intelligence, the Indian gasoline scooter and motorcycle market is set to grow at a CAGR of 8.8% during the forecast period 2018–2025. It is being estimated that by 2025, the market size will increase to $42.4 billion.
The major growth factor of the domain is rising income levels, which has given people more power to buy private vehicles. Among these, gasoline-powered two wheelers are preferred due to easy financing solutions, heavy discounts, fuel-efficient models. Further, many financially-stable people are purchasing a two-wheeler for short commute, despite owing a car, as the former are easier to drive and park on the narrow and congested Indian streets. This is how two-wheelers are becoming the second, and often the preferred, transportation mode, taking the Indian gasoline scooter and motorcycle market forward.

In addition, scooters and motorcycles are witnessing an increased demand from Tier 2 and Tier 3 cities. Such cities are witnessing population growth, owing to the industrial and economic developments here. Land, to set up manufacturing plants, is available at low rates in these cities. This is leading to economic development, which is, in turn, attracting the workforce from rural and semi-rural areas. Therefore, the financial prosperity of people after getting employment in such industries is another factor for the domain’s growth.

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On segmenting by product, the gasoline scooter and motorcycle market in India is categorized simply into motorcycles and scooters. In 2017, motorcycles dominated the market with over 65.0% revenue share, due to increasing motorcycle sales, especially in rural and semi-rural regions that are on the verge of urbanization. Road connectivity to such places has increased significantly, and loans are also available at low interest rates, leading to increasing two-wheeler sales. The fact that there are 108 motorcycles per 1,000 people in the country cements this finding. Motorcycles are cheap to purchase and operate, which is why these are preferred in urban as well as rural areas, with considerably less scooter penetration.

Similarly, the gasoline scooter and motorcycle market in India can also be segmented by engine capacity, wherein <100cc, 100-125cc, 125-150cc, 150-180cc, 180-250cc, 250-500cc, and >500cc are the several categories. Among these, two wheelers with 100-125cc engine capacity registered the highest sales volume in 2017 (over 70.0%), as these provide the perfect balance between power and price. Further, a shift has been seen in people’s preference from low-powered two wheelers to higher-powered ones.

Along with a growing inclination toward higher-powered two wheelers, a change in preference from low-cost to premium vehicles is also being observed in the Indian gasoline scooter and motorcycle market. With rising income levels, people, especially the youth, are switching over to premium two-wheeler brands, such as Harley-Davidson and Royal Enfield, which produce high-powered models. In a way, the increasing sale of premium two-wheelers is also driving the market growth.

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Hence, it is clear that the improving financial condition of people in rural and semi-rural areas and rapid industrialization in Tier 2 and Tier 3 cities is expected to drive the domain forward.

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Need to Curb IT spending Driving Low-Code Development Platform Market

The key factors driving the growth of the low-codedevelopment platform market are the rapid digitization, less requirement for IT professionals associated with the technology, and regulatory uncertainty. The market revenue, which was $5.6 billion in 2018, is projected to increase to $52.3 billion by 2024, at a CAGR of 45.2% during 2019–2024 (forecast period). With the use of the low-code development platform, developers can combine several pre-programed application components to create a new app, thus staying less reliant on IT professionals.

When segmented by enterprise size, the categories of the low-code development platform market are small and medium enterprises (SME) and large enterprises. Of these, the market was led by large enterprises during the historical period (2014–2018), as such organizations have relatively higher budget for procuring such advanced technology. The SME category would grow faster during the forecast period, as several of these would adopt cost-effective cloud-based solutions, to increase their app development rate and decrease their operational costs.

The fact that this technology significantly lessens the dependence on IT professionals is the primary reason for the low-code development platform market growth. Various departments within a firm need applications for smooth operations, but the delay in receiving the apps hampers productivity. To deal with this, companies hire IT professionals, who leverage platform as a service (PaaS) and programming languages, such as .NET and Java. As this incurs heavy expenses, companies are adopting the low-code development platform, as it allows even non-professionals to create apps.

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The low-code development platform market is also being positively influenced by uncertainty in the regulatory landscape. In the aftermath of crippling cyber-attacks, such as the data leak of around 87 million Facebook users in 2018, governments across the globe implemented strict regulations regarding the protection of customers’ personal data. Therefore, while developing business applications, companies need to consider regulatory compliance. With the use of the low-code development platform, apps that comply with data security regulations can be easily created.

Thus, with the rising smartphone and internet usage, the demand for cost-effective app creation would continue surging.

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Kick Scooter Sharing Market is Reaching New Heights

The increasing demand for a fun first- and last-mile commuting option and rising urban road congestion are driving the progress of the kick scooter sharing market across the world. In 2018, such services generated $143.4 million in revenue, which is projected to grow to $4,090.5 million in 2025, at a 51.3% CAGR during the forecast period (2019–2025). Kick scooters are those on which people stand during their journey, and most such vehicles use an electric motor.

On the basis of model, the kick scooter sharing market is bifurcated into multimodal and first- and last-mile. Of these, the first- and last-mile model dominated the market in 2018, as the shared mobility services offered via cars are slightly expensive for short distances; 8 km (5.1 miles) is the average distance for which such services are availed. Further, traffic congestion, parking problems, and air pollution result from the use of cars for short-distance traveling. Therefore, kick scooters not only offer cheap commute, but also help in reducing carbon emissions.

Another reason behind the growing popularity of the concept is that many service providers offer such vehicles via the dockless model, wherein they can be picked up and parked anywhere. This saves time, as people do not need to move around to locate the docking stations. Along with convenience, shared kick scooters are also being adopted for their fun and recreational quotient, and it has been observed that most of the people opting for such services are youths, between the ages of 20 and 35.

The increasing problem of urban road congestion is another significant kick scooter sharing market growth driver. Cars and buses already take up a lot of space on the roads, and their numbers are rising day by day. This is resulting in traffic jams, and almost no space left for pedestrians, in certain places. To make the situation better, the government of numerous countries are promoting kick scooters, as they require significantly less space to travel and park, the latter of which also offers advantages for micromobility firms.

A lucrative opportunity for the kick scooter sharing market lies in the integration of such services with other mobility modes. Several market players, including Lime, Jump, Scoot, and Mobycy, are getting involved in bike sharing, to maximize their revenue and give people more than just one option of traveling short distances. Similarly, Movo and Blinkee also offer scooters, along with kick scooters, for sharing. With more companies adopting such a model, the market is expected to grow further in the coming years.

Across the globe, North America dominated the kick scooter sharing market in 2018, and it is expected to continue on this path throughout the forecast period. This is attributed to the rapid popularity of such services here and the fact that these services were introduced in this region before anywhere else. As the concept has proven useful in solving the first- and last-mile travel problem, it is finding more users in North America.

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During the forecast period, the market is predicted to display the fastest growth in Europe. The rapid popularity of such services in North America are helping in their swift adoption in Europe, and companies which have been successful in the former region are entering the latter. Thus, the advent of established shared kick scooter providers, coupled with the inflow of heavy investments, is helping the European market progress. Spain, Belgium, France, Austria, and Switzerland are leading the way in shared kick scooter usage in the continent.

Therefore, as such vehicles offer cost-effective short-distance commuting solutions and also check air pollution, their usage is increasing.

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Polymer Concrete Market: The Future Impact Of The Propellants And Restraints On The Market

In 2017, the global polymer concrete market generated $1,975.8 million and is expected to attain $2,964.0 million in 2023, registering a 7.1% CAGR during the forecast period (2018–2023). The market is witnessing growth due to the rise in repair and maintenance activities and increasing civil construction projects. An aggregate mixture which makes use of epoxy binder to harden into place is referred to as polymer concrete. It can be made with various kinds of polymer resins, such as polyester, vinyl-ester, epoxy, and others, which allow concrete to be poured and then harden.

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The increasing number of civil construction projects is a major driving factor of the polymer concrete market. The construction industry creates jobs and channelizes investments and thus plays a significant role in the economic development of a country. Therefore, the governments around the world are increasing their investments in civil construction projects, such as roads, buildings, airports, sewer systems, railways, water reservoirs, bridges, tunnels, and others. For example, in Germany, 189 strategic infrastructure projects were in the developmental phase as of 2017, with a total investment of $129.6 billion.

In terms of application, the polymer concrete market is categorized into pump bases, trench drain, containments & waste containers, flooring blocks, and others (which include outdoor furniture, overlays, solid surface counter, and park benches). Among these, the trench drain category dominated the market during the historical period (2013–2017), holding a share of more than 26.0% in 2017, in terms of value. The reason for this is the growing construction of efficient drainage systems for catering to the needs of the surging population around the world.

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When end user is taken into consideration, the polymer concrete market is divided into residential structure, civil infrastructure, and non-residential structure. Out of these, the civil infrastructure division dominated the market during the historical period, accounting for a revenue share of more than 55.0% in 2017, and is projected to retain its position during the forecast period. The reason for this is the growing construction of civic infrastructural facilities, such as drainage systems and roads, around the world. The fastest growth is predicted to be witnessed by the non-residential structures during the forecast period.

The research offers the global market size of polymer concrete for the period 2013-2023.

GLOBAL POLYMER CONCRETE MARKET

• By Type – Epoxy, Polyester, Vinyl Ester, and Others
• By Class – Polymer Modified Concrete (PMC), Polymer Resin Concrete (PRC), and Polymer Impregnated Concrete (PIC)
• By Application – Containments & Waste Containers, Pump Bases, Flooring Blocks, Trench Drains, and Others
• By End User – Civil Infrastructure, Non-Residential Structures, and Residential Structures
• By Region – North America, Asia-Pacific (APAC), Europe, Middle East and Africa (MEA), and Latin America (LATAM)

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How is Increasing Infrastructure Development Activities Contributing to Asia-Pacific Compressor Market Growth?

The increasing globalization has led to massive improvements in the global economy, especially in the Asia-Pacific (APAC) region. This improvement in the economic growth has motivated the countries in the region to spend more on the infrastructure development. This is evident from the fact that many infrastructure projects are in the pipeline in countries, such as India and China.

One of the major contributors in the infrastructure sector of China is of the transportation sector. For instance, the world’s longest sea bridge, connecting the mainland China to Macau and Hong Kong, was opened by China in October 2017.

In India, more focus is on the development of smart cities, where in 2015, the Indian government launched a smart city mission, in which 100 cities across the country will be developed with all the modern facilities. This, in turn, is driving the demand for air compressors, which are deployed for numerous construction activities and in transport channels, such as tunnels, subways, and bridges.

The Asia-Pacific compressor market is expected to register a 4.0% CAGR in the coming years. Compressors are mechanical devices that increase the pressure of air or a gas by reducing its volume. They find applications in various industries, ranging from food processing and oil & gas to electronics and heating, air conditioning & refrigeration (HVAC).

Compressors are of two types: dynamic displacement and positive displacement. During 2013–2017, the higher demand was for the positive displacement type compressors. These compressors are further divided into reciprocating and rotary.

In the same time period, the demand for the rotary type positive displacement compressors was higher. This type uses rotational motion to compress gases. Rotary compressors include scroll and lobe, vane, and screw type. These are all positive displacement compressors, which are extensively used across various industries, such as industrial manufacturing, automotive, construction, food & beverage, and HVAC-R.

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Low Speed Electric Vehicle Market Demand Globally - Research Report, 2017–2025

The global low-speed electric vehicle (LSEV) market generated $35.2 billion in 2017 and is expected to be valued at $68 billion by 2025, advancing at a CAGR of 8.2% during the forecast period (2018–2025), according to P&S Intelligence. Initiatives and subsidies offered by the government, growing environmental awareness, and decreasing electric vehicle battery costs are some of the reasons for the growth of the market, as such vehicles do not use fuel, hence, produce almost no carbon emissions.

On the basis of product, the low-speed electric vehicle market has been classified into three-wheelers, two-wheelers, and four wheelers. Out of these, two-wheelers led the market in 2017 with more than 90.0% revenue share. The reason for such growth has been the fact that two-wheelers are heavily used by people as a personal transport vehicle, which is why this category is expected to be the fastest growing in the coming years as well.

Now, coming to the type of two-wheeler, the low-speed electric vehicle market is categorized into motorcycle, bike, mono wheel, electric scooter, and kick-scooter. Among all, electric bikes accounted for the largest revenue share in 2017, of more than 50.0%. Though the total revenue generated by motorcycle sales will still be higher in the forecast period, the fastest growth will be witnessed by the scooters. As these are cost-effective and can run at up to 50 kmph, these are expected to drive the market growth in the coming years.

On the global ground, Asia-Pacific (APAC) dominated the low-speed electric vehicle market in 2017 with a contribution of more than 65.0% in revenue as well as sales volume. Here, China is leading the market in terms of the LSEV sales as well as revenue.  The support from the national government and early introduction of LSEVs were the primary reasons behind China leading the market, both on the global and regional grounds. Further, large population and technological advancements also helped in this regard.

Now, one of the major growth drivers for the LSEV market across the world is rising government support in the form of incentives, subsidies, and grants, owing to increasing environmental concerns. Governments, especially of APAC countries, are mainly focusing on making their public transport system electricity-driven. For instance, the Government of India is offering subsidies between $370 (₹25,000) and $910 (₹61,000) under its FAME scheme.

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Conventional passenger carriers heavily affect the environment by causing an increase in air pollution. Many environmental authorities in APAC are spreading awareness on sustainable practices and encouraging people to adopt emission-free electric vehicles. Since, in Asian countries, such as China and India, three-wheelers are heavily used as public transport, replacing conventional ones with electrical variants can really help in curbing air pollution, thus boosting the growth of the low-speed electric vehicle market in the future.

Therefore, it is clear that governments and environmental authorities are playing a significant part in the growth of the market by offering subsidies and spreading awareness on the benefits of such vehicles, respectively.

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North America Electric Scooters and Motorcycles Market to Grow Nearly 30% through 2024

The North America electric scooters and motorcycles market attained a size of $154.8 million in 2018, and it is predicted to progress at a CAGR of 28.4% during the forecast period (2019–2024). The factors driving the growth of the market are government incentives and federal tax credits, low maintenance cost of such vehicles, and emergence of sharing services. Further, the amount of investments being made in e-two-wheeler manufacturing companies is increasing at a significant rate. Electric scooters and motorcycles are scooters and motorcycles that use rechargeable battery for moving.

On the basis of type, the electric bike scooters and market in North America is divided into scooter, kick scooter, and motorcycle. Out of these, in 2018, in terms of volume, the kick scooter category dominated the market. This is ascribed to the growing usage of electric kick scooters for sharing services, as these are eco-friendly, economical, and easy to ride. Furthermore, e-kick scooters, as compared to others, have low operating cost, resulting in an increasing adoption rate of these vehicles, further resulting in its dominance in the historical period.

Coming to the batter capacity, the North American electric scooters and motorcycles sector is classified into more than 15 kWh, 10–15 kWh, 5–10 kWh, and less than 5 kWh. Among these, in 2018, electric scooters and motorcycles with less than 5 kWh battery capacity held the largest volume share in the market, of more than 90.0%. This is attributed to the sudden rise in the demand for kick scooters for sharing services and increase in their usage by individuals, who mostly preferred vehicles powered by batteries with a capacity of less than 5 kWh.

Based on country, the electric scooters and bike market in North America is bifurcated into the U.S. and Canada, of which, the U.S. accounted for a contribution of nearly 85.0% in the market in 2018 in terms of volume. The major factors driving the growth of the sector in the U.S. are the increasing adoption of electric vehicles, government support in the form of financial and non-financial incentives for the acquisition of these vehicles, and a large passenger base. Hence, the growing inclination toward such electric vehicles in the U.S. is predicted to boost the market in North America.

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Currently, the electric scooter sharing service niche is witnessing rapid development and is in a process of evolution. These services have been available in North America since 2012, but only in the last two years, e-scooters emerged in the domain. Such sharing services are an attractive option for shared mobility, as these are easy to operate, compact, and do not ask for any physical exertion. In addition to this, the size of the battery used in these scooters is lesser, compared to other electric vehicles, which makes e-scooters easier to charge.

Therefore, with the emergence of electric scooters in the sharing fleet, the North American electric scooters and motorcycles market is expected to witness significant growth.

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