How Are Government Initiatives Pushing Single-Cylinder Pumpset Sales in India?

The population of India, which is already the second-highest in the world, rose to 1.36 billion in 2019 from 1.35 billion in 2018, and it will further increase to 1.7 billion by 2050, says the United Nations (UN). This is putting immense pressure on the agrarian community to feed the rising number of mouths, which hasn’t been easy considering the rapid urbanization taking place in the country. As cities are growing and rural lands are transforming into urban zones, farmlands are giving way to buildings and roads.

Additionally, for a long time, most of the farmers in India have depended on seasonal rains, but with time, irrigation is being practiced to grow crops round the year. As a result of all these factors, the single-cylinder pumpset market in Indian  is forecast by P&S Intelligence to grow from $1,126.8 million in 2019 to $1,834.3 million by 2030, at a 5.3% CAGR between 2020 and 2030. Pumps are an important tool to draw water from underground sources and irrigation canals and route them to fields.

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Since it is not always practical to have an electricity connection in the middle of the farm, pumps connected to an engine are widely used in the nation. Apart from feeding itself, India is also looking forward to augmenting its agricultural exports. The Agricultural Export Policy of the Ministry of Commerce and Industry envisions exporting agricultural products worth $60 billion by 2022. This is creating the requirement for additional land fit for cultivation, which is why pumpset sales are increasing in the country; water being one of the most-important resources for agriculture.

Engines fueled by diesel are more popular in the Indian single-cylinder pumpset market than those running on petrol (gasoline). Diesel engines are not only more fuel-efficient than gasoline engines, but diesel is also itself cheaper than gasoline. This brings down the overall operating cost of the pumpset, which is a boon for India, where most of the farmers do not have high incomes. With the decreasing farming area per person, farmers have less land to grow on, thus, less produce to sell, which is why cost-saving in any form possible is only going to help them.

Hence, with the demand for agricultural products rising in India, the sale of single-cylinder pumpsets will grow too.

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Booming Automobile Industry Driving Expansion of Global Metal Finishing Equipment Industry

The global metal finishing equipment market was valued at $13,845.6 million in 2019. According to the forecast of P&S Intelligence, a market research company based in India, the market will generate a revenue of $19,554.7 million by 2030. Furthermore, the market is predicted to progress at a CAGR of 4.2% from 2020 and 2030. The expansion of the aerospace and automotive industries is one of the major factors driving the progress of the market across the globe.

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Due to the surging sales of automobiles in the developing nations such as India, China, Mexico, and Indonesia, the automotive industry is registering rapid growth. Moreover, with the soaring sales of vehicles, the demand for metal finishing solutions is rising sharply in the automotive industry. Automotive systems and components such as brake parts, under-the-hood components, air conditioning parts, power steering systems, fuel systems, and chassis hardware are highly susceptible to corrosion because of snow and rain.

This can cause the premature failure of these components. Because of this reason, automakers are increasingly adopting metal finishing solutions for improving the life of various automotive parts. This is subsequently causing a sharp surge in the sales of metal finishing equipment all over the world. Similarly, the boom in the aerospace industry is positively impacting the global demand for metal finishing solutions and equipment. This is because these equipment help aircraft manufacturers maintain the quality of the aircrafts. 

Based on process, the metal finishing equipment market is divided into anodizing, galvanizing, conversion coating, electropolishing, electroplating, vibratory/mass finishing, electroless plating, and cladding. Amongst these, the electroplating category recorded the highest growth in the market in the past years, on account of the large-scale utilization of this method in the metal fabrication, aerospace, electronics, and automotive industries. The electroplating of highly critical metallic parts and components makes them resistant to corrosion and reduces the chances of premature failure.

Hence, it can be said with confidence that the market will prosper in the coming years, primarily because of the soaring usage of metal finishing solutions and equipment in the automobile and aerospace industries around the world.

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India Electric Rickshaw Market To Register 33.3% CAGR during 2020–2025

A number of growth factors, such as the proliferation of electric vehicles (EVs) on Indian roads, rise in the demand for low-cost vehicles for first- and last-mile connectivity, implementation of stringent environmental policies, and government initiatives to promote EVs, are expected to propel the Indian electric rickshaw market at a CAGR of 33.3% during the forecast period (2020–2025). According to P&S Intelligence, the market generated $786.2 million revenue in 2019,which is projected to reach $1,394.2 million by 2025.

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The Indian electric rickshaw market growth is driven by the escalating demand for low-cost vehicles for first/last-mile connectivity. Electric rickshaws rides are being seen as an economical solution to bridge the public transport service gaps for commuters. Therefore, the service is gaining traction among the daily commuters in the country. For instance, the price per head per kilometer of the service is $0.14 (INR 10). Thus, these vehicles are extensively used for first- and last-mile connectivity in Indian cities.

At the state level, Delhi generated the highest demand for electric rickshaws in 2019, on account of the existence of a vast metro commuter base and subsidy of $413 (INR 30,000) on electric rickshaws provided by the Delhi government to reduce the air pollution level in the state. On the other hand, the market in Uttar Pradesh is projected to witness significant Indian electric rickshaw market growth during the forecast period, owing to the rising demand for electric rickshaws in Tier-1 and Tier-2 cities, as well as in the rural areas of the state.

Thus, the growing adoption of EVs to reduce pollution and the rising demand for low-cost vehicles for first- and last-mile connectivity will accelerate the market growth in the foreseeable future.

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Market Segmentation

Market Segmentation by Vehicle

• Passenger Carrier
• Load Carrier

Market Segmentation by Motor Power

• <1,000 W
• 1,000–1,500 W
• >1,500 W

Market Segmentation by Battery Capacity

• <101 Ah
• >101 Ah

Market Segmentation by Sales Channel

• Organised
• Unorganised

Market Segmentation by State

• Madhya Pradesh
• Uttar Pradesh
• Delhi
• West Bengal
• Rajasthan
• Bihar
• Haryana
• Chhattisgarh
• Uttarakhand
• Punjab
• Jharkhand
• Assam
• Tripura
• Rest of India

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How Will China Account for Sorbic Acid Market Growth?

The sorbic acid market size is expected to increase its revenue from $347,661.0 thousand in 2019 to $521,126.7 thousand by 2030, progressing at a CAGR of 4.7% during the forecast period (2020–2030). The market growth can be ascribed to the strong presence of the pharmaceutical and food & beverages industries in Western countries and high per capita food and beverages consumption in developing countries like India, Brazil, and China. Moreover, preservative property of sorbic acid has promoted its usage in manufacturing of food and beverages and pharmaceutical products.

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One of the prime growth drivers of market is changing food consumption patterns of people across the world. Sorbic acid is utilized as a food preservative, as it is highly efficient in obstructing the mold growth that may adulterate and spoil the food. The acid is widely used in food products, such as wines, baked items, cheeses, refrigerated meats, and fresh produce, as it does not affect the final flavor of these items. These advantages will, therefore, boost its application in the production of processed foods and beverages.

Currently, the sorbic acid market is exhibiting a key trend of shifting of manufacturing base to China, due to the improving economic structure and escalating market opportunities in the country. Various chemical companies are shifting their production base in China from Western countries, owing to the stringent environmental norms in the European and North American regions. Moreover, high labor cost, small profit margin, and expensive raw materials in Western countries are compelling these companies to shift their production base to China.

Thus, the food & beverages and pharmaceutical industries will be the major contributors to market growth in the forecast period.

Key Findings of Global Sorbic Acid Market

• Market not affected much by COVID-19 pandemic

• Powdered form of sorbic acid more popular among users

• Changing food habits driving sorbic acid consumption

• APAC is best region for sorbic acid suppliers

• Market highly consolidated

• Chinese players account for majority of sorbic acid supply

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How Are Herbal Aerosol Products Improving Skin Care Products?

The rapid industrialization in developing countries, such as Indonesia, China, Thailand, Brazil, and India, has increased the consumption of aerosol in the manufacturing sector. The expansion of this sector is attributed to the huge investments and sudden shift of manufacturing base, owing to the easy availability of raw materials and cost-effective labor, in these emerging economies. The household, personal care, medical, automotive, industrial, food, and paints and coatings sectors in these countries utilize aerosol in high amount in the production of numerous products.

Moreover, increasing shift toward herbal or organic aerosol products will fuel the market for aerosol at 6.4% CAGR during 2020–2030. The market size is expected to rise from $81.1 billion in 2019 to $149.7 billion by 2030. Manufacturers of personal care and cosmetic products are utilizing organic aerosol instead of chemicals to reduce harmful effects on the skin. The harmful chemicals can lead to skin disorders like blemishes, acne, and rashes. Owing to these problems, customers are switching to items that are prepared from natural and herbal floral extracts, blended with essential oils.

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Presently, the highest revenue for the companies in the aerosol market is generated by the personal care category, under segmentation by end use. The demand for hair setting sprays, deodorants, and make-up setting sprays is continuously rising with people’s growing purchasing power, thereby driving the consumption of aerosols.

Europe has been the largest aerosol market till now, on account of the rising demand for personal care products, especially those used for skincare purposes. Other sectors of the continent where the requirement for aerosolized products is high include automotive, industrial, and household. The fastest growth in the market in the years to come is expected in Asia-Pacific, as a result of the surging sales of shampoos, conditioners, liquid soaps, shower gels, antiperspirants, deodorants, and men’s grooming products.

Key Findings of Global Aerosol Market Report

• Personal care sector largest end user of aerosols

• Organic aerosols rapidly gaining popularity

• Demand for dimethyl ether (DME) product type increasing quickly

• APAC most-lucrative market for aerosol product manufacturers

• Existence of numerous players makes market fragmented

• Companies unveiling new and improved products for higher sales

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Increasing Incidence of Chronic Diseases Fueling Sales of Generic Drugs

Due to the surging geriatric population in several countries, the demand for generic drugs is growing sharply across the world. As per a report published by the World Health Organization (WHO), the average lifespan and life expectancy of the population is increasing rapidly. This is causing the geriatric population to boom all over the world. As healthcare and medical treatments with branded medicines and drugs cost a fortune, patients are, nowadays, preferring low-cost generic drugs.

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Apart from the surging geriatric population, the burgeoning customer preference for low-cost generics over the highly expensive branded medicines is also positively impacting the mushrooming sales of generic drugs across the world. Moreover, because of the soaring popularity of these drugs, many pharma companies around the world are waiting for various blockbuster and branded medicines to lose their patents. The patent expiration of some of these branded drugs is propelling the sales of generic drugs.

For example, the patent protection of DULERA, which is sold by Merck Sharp & Dohme Corp., expired in December 2020 and the patent protection of FORADIL, which is a drug sold by Novartis AG, expired in November 2020. Besides this, the growing incidence of chronic diseases is also fueling the worldwide demand for generic drugs. As per the WHO, three-quarters of the total number of deaths that occurred across the world in 2020 were caused because of chronic illnesses.

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Out of these, the requirement for generic drugs was found to be the highest for the treatment of infectious diseases during the last few years. This was because of the high incidence of infectious diseases in several countries around the world. Globally, the sales of generic drugs were the highest in Asia-Pacific in the past years and this trend is likely to continue in the coming years as well. This will be because of the rising incidence of chronic diseases.

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Network Connected Medical Devices Market to Witness the Highest Growth Globally in Coming Years

 The internet of things (IoT) technology has gained immense popularity in the recent times. The concept basically refers to the connection of devices, any device as long as it has an on and off switch, to internet and to other connected devices. In order for devices to be connected with internet or with other devices, they are integrated with built in sensors. 

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The various network connected devices are patient monitoring devices, ingestible sensors, glucose monitors, X-ray imaging systems, insulin pumps, computed tomography scanners, blood processing devices, dialysis, coagulation testing, dialysis, oxygen tanks, continuous positive airway pressure machines, smart beds, infusion pumps, ventilators, and defibrillators. Because of the growing adoption of cloud technology in the healthcare sector and high cost of patient monitoring devices, their requirement was the highest in the past. Types of patient monitoring devices are weight monitoring devices, temperature monitoring devices, hemodynamic monitoring devices, multi-parameter monitoring devices, neuromonitoring devices, respiratory monitoring devices, and cardiac monitoring devices.

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North America is projected to create considerable growth for network connected medical devices in the coming years, which is primarily attributed to the developed healthcare infrastructure in the region. Because of an advanced healthcare infrastructure, the adoption of technologically innovative is growing in North America. Moreover, people are able to afford these services in the region. Other than this, technological advancements and increasing research activities is further predicted to drive the growth of the network connected medical devices market in the coming years.      

Hence, the domain is witnessing growth because of advancements in the IoT technology. 

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