Supportive Government Initiatives Driving Electric Off-Highway Vehicles Market Growth

Due to the implementation of strict emission norms by the governments of several countries, the demand for eco-friendly vehicles has increased massively. This is driving the expansion of the global electric off-highway vehicles market. As a result, the market generated a revenue of $6,399.5 million in 2020. Moreover, with the enactment of these regulations, many automotive manufacturing companies are shifting their focus from internal combustion engine-powered vehicles toward automobiles having alternative powertrains.

Electric Off-Highway Vehicles Market Outlook

Additionally, the surging requirement for emission-free and low-noise construction machines, especially in residential areas, is also fueling the growth of the electric off-highway vehicles market. Due to these factors, the electrification of off-highway vehicles, including those used in the construction industry, is rising rapidly. This is because of the fact that the necessary technologies are rapidly becoming affordable and mature. For example, AB Volvo is providing a range of electric compact equipment such as L25 electric compact wheel loader and ECR25 electric compact excavator. 

Across the globe, North America is predicted to hold the largest share in the electric off-highway vehicles market till 2030. This is attributed to the implementation of environmental protection initiatives for controlling the carbon footprint and reducing the emissions generated from the construction industry in the region. For example, 15 states and the District of Columbia have aimed to have 100% of all new heavy- and medium-duty vehicle sales to be of emission-free variants by 2050. Further, the rising demand for electric mining dump trucks, electric tractors, electric lawnmowers, electric loaders, electric excavators, and electric dozers is massively augmenting the sales of electric off-highway vehicles in the region.

Hence, it can be said without any hesitation that the demand for electric off-highway vehicles will explode in the coming years, primarily because of the growing adoption of electric vehicles, on account of the surging air pollution levels and enactment of favorable government initiatives, and increasing construction and infrastructural development activities in several countries. 

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How Are Automobile Manufacturers Fueling Industrial Aerosol Production in India?

Mushrooming demand for aerosols in the automobile sector and aftermarket will drive the Indian industrial aerosol market at a CAGR of 5.6% during the forecast period (2020–2030). The market stood at $70.95 million in 2019 and it is projected to reach $115.85 million by 2030. Aerosols are used in the production of passenger cars, quadracycles, commercial vehicles, two-wheelers, and three-wheelers. With the increasing production and sales of such vehicles, the demand for these substances will escalate rapidly. For instance, as per the Society of Indian Automobile Manufacturers (SIAM), India manufactured 30,915,420 vehicles in 2018–2019.

The growing manufacturing sector will also fuel the consumption of aerosols in the coming years. According to the India Brand Equity Foundation (IBEF), the expansion of the manufacturing sector can be owed to the burgeoning demand for electrical machinery and equipment, consumer devices, and electrical appliances. Furthermore, the Ministry of Commerce and Industry, the Government of India, states that the cosmetics and beauty products sector in the country is flourishing, due to the surging per capita income.

According to P&S Intelligence, the Indian industrial aerosol market is fragmented, due to the presence of numerous players, including Zenith Spray and Aerosols Private Limited, Twin Tech India Pvt. Ltd., 3M Company, PRIME AEROSOLS, Indian Aerosols Pvt. Ltd., Renuka Multichem, Aerol Formulations Private Limited, OKS Speciality Lubricants India, S. S. Aerosols Pvt. Ltd., Aerosol Specialities (India), and Pidilite Industries Ltd. In recent years, these companies have been involved in product launches to gain a competitive edge over others. For instance, CRC Industries Inc., in November 2019, announced the launch of OZZYJUICE SW-X1, a new degreasing solution.

In the same vein, in May 2020, 3M Company introduced an anti-heat solution — 3M Scotchkote Polytech Exp RG700 — for the Indian Railways. This solar-reflective layer reduces the temperature inside a closed area and is suitable for a wide range of metallic substrates. Similarly, in November 2020, CRC Industries Inc. announced the introduction of a multi-use automobile parts degreaser & cleaner for cleaning brake drums, air intakes, chokes, rotors, carburetors, and throttle bodies. 

Thus, the growth in the manufacturing and automobile industries in India will accelerate the consumption of the industrial aerosols in the coming years.

Source: https://www.psmarketresearch.com/market-analysis/india-industrial-aerosol-market

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Increasing Enactment of Strict Emission Norms Fueling Drive By Wire Market Growth

 Due to the increasing enactment of stringent vehicular emission norms by the governments of several countries, advent of autonomous vehicles, and the development of connected infrastructure, the global drive by wire market revenue surged to $23,174.2 million in 2020 and it is predicted to rise even more in the coming years. The development of autonomous vehicles is a major market growth driver. These vehicles offer various advantages such as improved vehicular safety, less fuel consumption, and low emissions. 

Drive By Wire Market Outlook

As these vehicles are equipped with several sensors and consist of electrical terminals and connections, their increasing deployment is driving the demand for drive by wires across the world. Besides, the implementation of strict vehicle emission norms by several governments, on account of the escalating pollution levels, is also propelling the demand for drive by wires. Because of the enactment of these regulations, automobile manufacturers are incorporating lightweight materials in automobiles as these materials increase the fuel efficiency. This is fueling the requirement for drive by wire controls, which is, in turn, causing the growth of the drive by wire market. 

Geographically, Asia-Pacific dominated the drive by wire market between 2015 and 2020, as per the observations of the market research company, P&S Intelligence. This was credited to the high disposable income of the middle-class populace and the various cost advantages experienced by automakers and original equipment manufacturers (OEMs), on account of the low costs of labor and raw materials, in the region. Further, the implementation of stringent emission norms and soaring popularity of luxury and premium vehicles are also contributing to the market growth in the region.

Hence, it is clear that the demand for drive by wires will surge in the coming years, primarily because of the enactment of strict vehicle emission norms in several countries, rapid deployment of autonomous vehicles, burgeoning requirement for lightweight and fuel-efficient vehicles, and increasing adoption of off-highway vehicles, due to soaring construction activities across the world. 

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What are Reasons behind Growth of Surgical Sutures Market?

The market is growing due to the rising prevalence of chronic diseases, increasing healthcare expenditure, surging geriatric population, rising number of surgeries and burn cases, and increasing number of hospitals. Medical devices which are utilized during a surgery or after an individual suffers injury for holding the body tissues together and closing the wounds are referred to as surgical sutures.

When product is taken in consideration, the surgical sutures market is divided into automated suturing devices and sutures. Between the two, the sutures division dominated the market during the historical period (2013–2016) and is predicted to account for the major share of the market during the forecast period as well. The division is further bifurcated into non-absorbable and absorbable sutures. The automated suturing devices is expected to grow at the fastest pace during the forecast period, as these devices save time and need less work.

The rising prevalence of chronic diseases is a key driving factor of the surgical sutures market. As per the World Health organization, chronic diseases are the leading cause of mortality around the world, accounting for 60% of all deaths. Chronic diseases including cardiovascular diseases, cancer, viral diseases, such as hepatitis and HIV, and chronic obstructive pulmonary disease have persistent and long-lasting effect on a person’s health. Moreover, the treatment of these diseases often requires complex surgeries, which, in turn, involve the utilization of sutures. This is leading to the rising demand for surgical sutures.

Another factor positively impacting the surgical sutures market is the surging aging population. According to the United Nations Department of Economic and Social Affairs report, the number of people aged 60 years or above is predicted to grow by 56%, globally. The elder population goes through various kinds of surgeries such as abdominal & thoracic surgery, heart surgery, hip & knee replacement, non-cardiac surgery, and cataract surgery, which require different kinds of surgical sutures.

Hence, the growing prevalence of chronic diseases, surging geriatric population, and increasing number of hospitals are driving the growth of the market.

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What are the Key Factors Driving the Growth Global Wearable Injectors Market?

The global wearable injectors market is predicted to register significant growth in the coming years. This is attributed to the increasing demand for advanced drug delivery, rising geriatric population, and surging prevalence of chronic diseases. A device which is utilized for delivering large volume of drugs over an extended period of time is referred to as a wearable injector. The device delivers large subcutaneous doses of drugs to patients even when the patient is ambulatory and is able to carry out normal daily life activities during the drug delivery.

In terms of end user, the wearable injectors market is categorized into lab & diagnostics, home care, hospital, and others (which include small clinics and healthcare settings). Out of these, the home care category dominated the market in the past and is expected to account for the major share of the market in the near future as well due to the growing demand for self-injection system. On the basis of technology, the market is classified into mechanical injector, electronic injector, and others (which include hydrogel and hydraulic injector).

Another key driving factor of the wearable injectors market is the increasing requirement for innovative drug delivery. Infusion therapy costs around $35 billion in the specialty drug market, according to Unilife Corporation. The utilization of advanced drug delivery devices, including wearable injectors at home, decreases the overall healthcare cost, as the patients can take the drugs themselves with minimal or no training. Furthermore, these drug delivery devices are being preferred by different healthcare setups, including labs & diagnostics and clinics, as they are cheaper than other controlled drug delivery devices. 

Hence, the market is being driven by the increasing geriatric population and rising need for advanced drug delivery

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Why Do Pharmaceutical Companies Use Meta-Xylene?

Xylene refers to a volatile and colorless liquid hydrocarbon derived from coal, petroleum, and wood. Meta-xylene (m-xylene), an isomer of para-xylene and ortho-xylene, is an aromatic hydrocarbon with two methyl substituents attached at the meta positions of the benzene ring. The hydrocarbon is primarily used for producing isophthalic acid, an organic compound used in the production of reinforced plastics, unsaturated polyester resins, inks, and alkyd resins. Thus, the burgeoning need for such products in the packaging and construction industries will augment the need for m-xylene in the coming years.

Additionally, the soaring demand for paints and coatings, owing to their extensive use in the infrastructure and construction sectors, will help the m-xylene market demonstrate a CAGR of 4.4% during forecast period. According to P&S Intelligence, the market revenue will reach $1,341.7 million by 2023. Large quantities of m-xylene, also known as m-dimethylbenzene, m-xylol, 1,3-xylene, and 1,3-Dimethylbenzene, are heavily used in the production of paints and coatings, which are extensively required in the development of retail centers, hotels, offices, residential apartments, and civic infrastructure in India, the U.S., China, and Eastern Europe, due to the mounting focus on infrastructure development in these countries.

The APAC m-xylene market will witness the fastest growth in the forthcoming years, due to the expanding packaging, automotive, and aerospace industries in the region. Moreover, the surging consumption of coating resins and formulations in South Korea and China, owing to the flourishing construction industry in these countries, will also escalate the adoption of m-xylene in the coming years. Besides, the increasing production of polyethylene terephthalate (PET) plastic, due to the rising preference for alcoholic beverages and carbonated drinks, will also create a huge requirement for m-xylene in the region in the foreseeable future.

Thus, the booming demand for paints and coatings and expanding petrochemical industry in APAC will boost the production of m-xylene in the coming years.

Read More: https://www.psmarketresearch.com/market-analysis/meta-xylene-market

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Demand for Mobile Handset Protection Services Exploding in North America

If there’s one device which is synonymous with the information age, it is a mobile phone. A valuable possession in today’s fast paced communication driven environment, the mobile phone has undoubtedly brought people and cultures together, bridged the gap between continents, and streamlined business communication and operations. According to the observations of the International Telecommunication Union (ITU), the mobile subscription rate across the world per 100 individuals was 109 in 2019. 

Mobile Handset Protection Market Outlook

As this device plays a major role in ensuring that people stay connected with their loved ones, businesses run smoothly and efficiently, and customer queries are handled quickly and effectively, it needs to be protected against various accidental and liquid damages. This is why the demand for mobile handset protection is surging sharply across the world. Additionally, people are quickly realizing the need, value, and importance of handset protection, which is further boosting the demand for mobile handset protection, thereby causing the growth of the global mobile handset protection market. 

Additionally, as smartphones are majorly used for surfing the internet and conducting important transactions, there is a major threat of these devices getting exposed to harmful third-party applications and content, that might cause considerable damage. This is another factor driving the expansion of the mobile handset protection market. Geographically, the demand for mobile handset protection services will soar in North America in the forthcoming years, as per the estimates of the market research company, P&S Intelligence. As consumers in the U.S. depend heavily on their mobile network operators to solve their issues, the mobile handset protection services are being extensively adopted in the region.

Hence, it can be said without any hesitation that owing to the rising penetration of smartphones, increasing incidence of mobile phones breaking down, and growing public awareness about the importance of handset protection, the demand for mobile handset protection services will surge all over the world in the coming years.

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