Electric Vehicle Battery Swapping Business Scope in Indian Market – Exclusive Report Analysis by P&S Intelligence

Due to increased run-time and improved remunerative prospects for shared e-mobility drivers, the demand for electric vehicle (EV) battery swapping is rising in India. The market is likely to be dominated by electric three-wheelers as these vehicles are majorly used for passenger carrier and run on an average more than 100 km a day. Since with each full charge these vehicles run less than 100 km, these are required to be charged twice or thrice a day.

Battery swapping technology offers best alternative to slow charging and helps the drivers to make optimum use of the operational hours. However, commercial vehicle category is projected to grow at the fastest rate during the forecast period in the Indian EV battery swapping market.

Based on service type, the pay-per-use category is expected to hold the larger share in the Indian EV battery swapping market in 2020, and is further projected to remain the dominant category during the forecast period. This can be buoyed by the preference of the vehicle drivers to pay as per their usage, due to lack of fixed usage pattern of their vehicles. For instance, it is observed that electric two-wheeler riders generally do not prefer driving for longer distances. Since they do not require much battery swaps for running for short distance, majority of the drivers are expected to opt for pay-per-use model.

To gain a competitive edge over other players in the Indian EV battery swapping market, the companies are focusing on offering products and services, and working in collaborations with other market leaders to expand their reach. From the competitive landscape view, the Indian EV battery swapping service providers can boost their market share by seizing the growth opportunities presented by:

• Forming partnerships with vehicle manufacturers, battery manufacturers, and utility providers in order to deploy battery swapping technology at faster rate
• Targeting electric autos and electric buses as these holds huge potential for service expansion
• Aiming shared mobility section, including two-wheeler sharing, as majority of electric vehicles will be deployed for shared mobility and drivers would opt for battery swapping to make optimum use of the operational hours
• Focusing on cities where battery swapping service deployment is profitable, such as Bangalore, Delhi, and Nagpur and entering into emerging areas, such as Hyderabad and Ahmedabad, where battery swapping holds significant opportunities

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Some key players operating in the Indian EV battery swapping market are Ola Electric Mobility Pvt. Ltd., Lithion Power Pvt. Ltd., SUN Mobility Pvt. Ltd., Exicom Tele-Systems Ltd., Panasonic India Pvt. Ltd., and Twenty Two Motors Pvt. Ltd. (22KYMCO).

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Indian Electric Vehicle Component Market Size, Demand Outlook and Forecast 2020 due to COVID-19 Impact

The cost of the various components that go into manufacturing an electrically powered automobile is continuously reducing, as a result of economies of scale. For instance, the battery price is expected to fall by more than 30% between 2018 and 2025, thus making electric vehicles (EVs) more affordable.

During the same period, a 24%, 23%, 60%, 9% 6.5%, 8.6%, 8.5%, and 21% drop is predicted in the prices of motors, controllers, electric vehicle supply equipment (EVSE), thermal management systems, power distribution modules (PDMs), vehicle interface control modules (VCIMs), high-voltage cables, and DC–DC converters, respectively. As a result, the Indian electric vehicle component market, which reached $536.1 million in 2019, would advance at a CAGR of 22.1% between 2020 and 2030 (forecast period).

Passenger Car Category To Witness Fastest Growth during 2020–2030

The fastest growth in the Indian electric vehicle component market is predicted to be experienced by the passenger car category during the forecast period, due to the swelling numbers of such automobiles in the fleet of shared mobility firms, as a result of the continued efforts of the government and such companies for transitioning toward clean transportation.

In 2019, the original equipment manufacturer (OEM) bifurcation held larger share in the Indian electric vehicle component market for two-wheelers. This is because, currently, the purchase rate of such automobiles is higher than the part replacement rate, which is why OEMs generate higher demand for two-wheeler components.

Till 2030, the highest CAGR, of 61.7%, would be displayed by the battery management system (BMS) category, in the Indian electric vehicle component market for passenger car battery packs in India. This is because a BMS protects the battery pack, which is the most crucial and expensive component of an electric car, from damage, by making sure it is not operated beyond its safe functional area. Apart from managing and controlling its operations, a BMS also notifies car owners of the current battery status, which is why its integration is swiftly surging in electric cars.

Delhi was the largest Indian electric vehicle component market for commercial vehicles during the historical period, owing to the high pollution levels in the city, which have steadily raised the number of electric buses and trucks in the city in the last few years.

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Market Competitive Landscape Is Characterized by Partnerships

In recent years, partnerships have come to shape the competition in the Indian electric vehicle component market, as part manufacturers are using such collaborations to increase their presence in the industry.

For instance, in January 2019, Panasonic Corp. and Toyota Motor Corp. established a joint venture, with Toyota holding 51% of the stakes. The JV will be used to supply lithium-ion (Li-ion) batteries for the EVs being manufactured by Toyota, with Panasonic hoping to expand its influence in the EV component niche of the county.

Major Indian electric vehicle component market players include Exide Industries Ltd., Okaya Power Pvt. Ltd., Amara Raja Batteries Ltd., Panasonic Corp., Sparco Batteries Pvt. Ltd., Eastman Auto & Power Ltd., Robert Bosch GmbH, DENSO CORP., Contemporary Amperex Technology Co. Ltd., and CY International.

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Indian End-of-Life Vehicle and Dismantling Market Will See Strong Expansion Through 2030

India is reeling under high levels of air pollution, which is why the National Green Tribunal (NGT) and Supreme Court have passed stringent regulations, which have considerably reduced the number of years an automobile can be driven for. For instance, in Delhi/NCR, the maximum age of petrol and diesel vehicles has been brought down to 15 and 10 years, respectively.

This factor is predicted to propel the Indian end-of-life vehicle and dismantling market, which generated $3,474.0 million revenue in 2019, at a 17.2% CAGR between 2020 and 2030 (forecast period).

Ferrous-Metal Components To Contribute Highest Revenue to Market till 2030

Till 2030, the ferrous metal category would continue dominating the Indian end-of-life vehicle and dismantling market, because ferrous-metal components make up for around 70% of an average vehicle. These components can be easily extracted by using a strong magnet, and they also remain in high demand due to their easy reusability factor.

The four-wheeler division held a significant share in the Indian end-of-life vehicle and dismantling market in 2019, owing to economic growth. With an increase in their disposable income, a rising number of people in the nation are purchasing four-wheeled automobiles for personal as well as commercial use. Once they reach the end of their life, they will serve as the input for junkyards.

Maharashtra was the most productive state in the Indian end-of-life vehicle and dismantling market in the past, as the high purchasing power in the state results in a heavy sale of automobile, which, over time, are sent for scrapping. In the coming years, the NCT of Delhi division would grow the fastest in the industry, on account of its high air pollution levels, which has impelled the government to reduce the vehicles’ maximum service life.

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Market Players Taking Numerous Steps to Dominate Competition

Seeing the high demand for automobile scrapping and recycling services, in the wake of the shutting down of unorganized salvage yards by government bodies, numerous established companies have entered the Indian end-of-life vehicle and dismantling market, with a number of strategic moves.

Moreover, also in November 2019, a joint venture was founded by Suzuki Motor Corp. and Toyota Motor Corp., for setting up an automobile dismantling facility in Noida. Once operational, the unit will be able to process 2,000 vehicles in a month, after which the two Japanese automakers hope to establish more such recycling plants in the nation.

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Optical Sensor Market to Witness Growth due to Rising Demand for Consumer Electronics

Various industries which utilize optical sensors are security and surveillance, aerospace &defense, healthcare, automotive, healthcare, building automation, material handling, chemical, manufacturing, consumer electronics, and food & beverages. 

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The consumer electronics industry made the most use of optical sensors in the past, which is owing to the increasing need for energy-efficient tablets, digital displays, smartphones, televisions, and laptops, particularly in the Asia-Pacific (APAC) region, and the fast-changing technology. In addition to this, the growth of the automotive industry is also resulting in the growing adoption of optical sensors.

North America has been a major consumer of optical sensors up till now, which is due to the surging requirement for consumer electronics, growing manufacturing industry, and rising usage of fiberoptic sensors in the oil & gas industry in the region. Apart from this, due to the growing adoption of these sensors, the APAC region is projected to emerge as the fastest-growing optical sensormarket in the coming years. Moreover, the increasing demand for consumer electronics in countries including India and China is also leading to the rise in requirement for optical sensors in the region.

In conclusion, the growing adoption of building automation systems and consumer electronics is resulting in the rising need for optical sensors.

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Coronavirus Business Impact –Call Center AI Market In-depth Analysis of the Global Industry with Future Estimations

The AI-powered systems provide much more improved customer services than the conventionally employed human operators and thus, help in enhancing the customer experience. Moreover, the AI-based systems provide 24*7 assistance and availability which significantly boost customer interaction, the company’s accessibility, and the user experience. Driven by these factors, the valuation of the global call center AI market is expected to increase from $914.5 million in 2018 to more than $2,990.1 million by 2024. The market is predicted to progress at a CAGR of 22.6% during the forecast period (2019–2024).

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The biggest trend currently being witnessed in the call center AI market is the burgeoning adoption of AI enabled chatbots by many organizations. These chatbots incorporate the use of the available information such as the organization knowledge base and frequently asked questions (FAQs) in order to provide enhanced customer service. In addition to this, the chatbots help in resolving customer queries in a much shorter period of time as compared to the human operators. The chatbots can provide customer care services to multiple customers at a single time and this makes them highly useful in large enterprises. 

The technology gathers information over time in order to establish patterns that can be addressed more readily, which make the process in call centers more efficient. AI also has speech recognition abilities, which can help in simplifying the communication between companies and customers, so that questions are answered readily and lead the customer to the right department or personnel quickly.

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Different AI-based technologies which are used in call centers include automatic speech recognition (ASR), NLP, machine learning, video recognition, computer vision, and cognitive computing. Because ASR technology allows customer self-service, creates customer database with accurate insights, optimizes complex process of interactive voice response, and improves quality monitoring, its demand was the highest in the past.

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How Geriatric Population Helps Protein Expression Market Grow?

Proteins have a vast array of functions than just ‘building the body’ as taught to children in school. They speed up several metabolic functions, help the ribonucleic acid (RNA) divide and proliferate, respond to numerous external and internal stimuli, provide cells with the proper structure, and ferry molecules from one site within the body to another. Since people have gained knowledge on how proteins are produced and manipulated within the body, the artificial synthesis of these biomolecules has become possible. The process, which is known as protein expression, is also used to study the proteins themselves, apart from producing them in labs.

Thus, with the increasing research and development (R&D) activities in the disease diagnosis, pharmaceutical, and biotechnology domains, the protein expression market is well on its way to garnering huge revenue in the coming years. The study of proteins is useful for gaining a deeper knowledge on chronic diseases. Many diseases, which are not caused by an external pathogen, such as a fungus, parasite, bacteria, or virus, have genetic causes, mostly a faulty protein. Many long-term diseases, including multiple myeloma and amyloidosis, have abnormal protein as the primary cause.

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Academic research institutes, pharmaceutical and biotechnology companies, contract research organizations, and numerous other types of entities use the products and services provided for protein expression processes. Among these, pharmaceutical companies are predicted to be the largest users of these services and products in the coming years, which is coherent with the fact that among industrial, therapeutic, and research, therapy would be the largest application area of protein expression. With the increase in the incidence of chronic diseases, especially CVDs and cancer, which carry an annual mortality of 17.9 million and 9.6 million, respectively, as per the World Health Organization (WHO), drug development activities are rising fast.

Presently, the most productive protein expression market has been North America, as a result of the high prevalence of chronic diseases here. The Centers for Disease Control and Prevention (CDC) says that six in every 10 adults in the U.S. have a chronic health condition, while four in ten have at least two. Moreover, the continent is home to numerous critically acclaimed medical research centers and globally operating pharma companies, which are increasing adopting the protein expression technique for medical research, and drug discovery and mass production.

Hence, on account of the rising chronic disease prevalence and desire of the medical fraternity to understand the role of proteins here, these biomolecules will continue being artificially manufactured and analyzed.

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Air Ambulance Services Market Business Revenue Forecast (COVID19 Impact): Industry Growth, Size & Future Scope

As the number of vehicles on roads is growing, the prevalence of road crashes across the globe is also surging. There can be no doubt about the fact that the number of people owing private vehicles is quite higher than it was 10 years ago or even 5 years ago. This has resulted in the lowering of safety on roads. As per the World Health Organization, about 1.35 million people die every year because of road traffic crashes. About 20–50 million people suffer from non-fatal injuries, resulting in disability. In addition to this, these crashes cost various countries 3% of their gross domestic product. 

Attributed to these factors, the global air ambulance services market is predicted to reach a value of $15.9 billion by 2030, rising from $8.9 billion in 2019, advancing at a 5.4% CAGR during the forecast period (2020–2030). Fixed-wing and rotary-wing are the two aircraft types that are utilized for providing air ambulance services. Between these two, the demand for rotary-wing aircrafts or helicopters was higher in the past. Most of the patient transportation services take place for medium and short distances, within the city or state boundaries in a country. Characteristics including smaller landing and take-off area and hovering capabilities of these aircrafts is also leading to their rising demand. 

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Geographically, North America has been the largest air ambulance services market in the past, which is particularly attributed to the presence of a number of companies that provide air ambulance services, covering a large number of states in the region. Furthermore, the region already as associated infrastructure for these services and the high per capita income of people make these services more affordable. Apart from this, the adoption of air ambulance services is also expected to rise considerably in the coming years due to the rising prevalence of cardiovascular diseases in countries including India and China. 

Hence, the need for air ambulance services is increasing because of the surging number of road traffic crashes.   

Take a Look: Air Ambulance Service Business Report 2020

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