Surging Carbon Emissions Driving Electric Aircraft Sales

With the surging air pollution levels and rising carbon emissions, the governments of many countries are focusing on promoting the adoption of electric aircrafts. Moreover, the increasing implementation of regulatory environment regulations and carbon emission policies in several countries is also fueling the demand for electric aircrafts. For instance, Norway is aiming to deploy aircrafts powered by electricity in order to mitigate the emission of greenhouse gases by 2040. In addition, the Government of Norway wants aircraft manufacturing companies to manufacture a 30-seat airliner powered by electric motors, that can be officially launched by 2025. 

Similarly, a JetBlue Airways, Zunum Aero, and Boeing Co. backed startup announced in May 2018 that it intends to launch its first hybrid-electric plane by 2022. Furthermore, the rising number of airline passengers is also positively impacting the worldwide requirement for aircrafts that are easier to maneuver, safer, and create less noise. Besides these factors, the lower cost of ownership of electric aircrafts is also fueling the expansion of the global electric aircraft industry. 

Electric Aircraft Market Report | P&S Intelligence 

Geographically, the deployment of these aircrafts is expected to rise considerably in North America in the forthcoming years, with the U.S. predicted to become the largest electric aircraft market in the upcoming years. The Environmental Protection Agency (EPA) has recently laid down regulations pertaining to the emission of greenhouse gases by aircrafts. Moreover, the increasing research activities and rapid technological advancements are also expected to fuel the demand for electric aircrafts in the country in the upcoming years. 

With the enactment of such strict regulations by the governments of other countries, the sales of electric aircrafts are surging sharply. This is also encouraging original equipment manufacturers (OEMs) to penetrate newer markets in both developing and developed nations. In addition, the burgeoning requirement for the adoption of fuel cells in electric aircrafts, advent of technologically advanced battery parts and materials, and emergence of next-generation asynchronous propeller technology in order to cater to the needs of consumers are predicted to push up the sales of electric aircrafts in the coming years. 

Hence, it can be safely said that the demand for electric aircrafts will rise enormously in the coming years, mainly because of the burgeoning need for environment-friendly aircrafts all over the world. 

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Increasing Internet Penetration Driving Marketing Automation Market Expansion

From $4,438.7 million in 2020, the global marketing automation market revenue is predicted to surge to $14,180.6 million by 2030. As per the forecast of the market research company, P&S Intelligence, the market will demonstrate a CAGR of 12.3% from 2020 to 2030 (forecast period). The market is being propelled by the growing adoption of digital marketing, soaring use of social media platforms, and increasing adoption of marketing automation software by small and medium enterprises (SMEs) across the world.

With the growing penetration of the internet, both large and small and medium enterprises are increasingly focusing on adopting digital marketing to stay ahead of the competition. Moreover, they are incorporating automation tools for advertising their products and services on various channels, such as social media, web, and email, and improving the lead nurturing process. 

Additionally, global digital ad spending is predicted to surpass $450.7 billion by the end of 2021, accounting for over 50% of the total ad expenditure. Germany, the U.K., Japan, China, and the U.S. are some of the top digital marketing investors around the world. Another major marketing automation market growth driver is the growing adoption of automation software by SMEs. 

Currently, SMEs, whose number stands at 4 million across the globe, hold a large number of shares in various enterprises around the world. As per the World Bank, they represent around 90% of the businesses and over 50% of the employees. The mushrooming number of SMEs is predicted to push up the requirement for automated marketing operations. Depending on deployment, the market is divided into on-premises and cloud categories.

This market research report provides a comprehensive overview of the market

• The Future potential of the market through its forecast for the period 2020– 2030
• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• Historical and the present size of the market segments and understand their comparative future potential
• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings

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Rapid Shift to EV Will Facilitate Automotive Drivetrain Production

The International Energy Agency (IEA) predicts that global stock of battery electric vehicle (BEV) trucks, plug-in hybrid electric vehicle (PHEV) trucks, and fuel cell electric vehicle (FCEV) trucks will expand from 30,872 units in 2020 to 860,942 units by 2030, 228 units in 2020 to 900,264 units by 2030, and 3,815 units in 2020 to 26,139 units by 2030, respectively. The organization also forecasts that BEV cars and PHEV cars sales will increase from 2,008,024 units in 2020 to 14,370,678 units by 2030 and 969,034 units in 2020 to 7,761,233 units by 2030, respectively.

Thus, the rising penetration of electric vehicles, owing to the escalating need to reduce greenhouse gas (GHG) emissions, will help the automotive drivetrain market progress in the foreseeable future. The U.S. Energy Information Administration (EIA) estimates that world carbon dioxide (CO2) emissions from fossil fuel combustion increased from 36.638 billion metric tons in 2018 to 36.912 billion metric tons in 2019. As per the organization, global atmospheric CO2 concentration surged from 409.28 parts per million in 2019 to 411.74 parts per million in 2020.

In contemporary times, automobile manufacturers are using drivetrain systems developed by ZF Friedrichshafen AG, Aisin Seki Co. Ltd., American Axle & Manufacturing Inc., GKN PLC, JTEKT Corporation, Borgwarner Inc., Dana Incorporated, Showa Corporation, Magna International Inc., and Schaeffler Group. Currently, these companies are focusing on manufacturing lightweight drivetrains to improve the overall performance of vehicles. Drivetrains offered by these manufacturers are used in passenger cars, EVs, light commercial vehicles (LCVs), and heavy commercial vehicles (HCVs).

According to P&S Intelligence, the Asia-Pacific (APAC) will lead the automotive drivetrain market in the forthcoming years. This will be on account of the increasing technological advancements in the automobile industry and the surging vehicle production in the region, especially in Japan, India, South Korea, and China. For example, the Society of Indian Automobile Manufacturers (SIAM) states that 3,062,221 passenger vehicles and 624,939 commercial vehicles were manufactured in India in the financial year (FY) 2020–2021. 

Therefore, the surging production and adoption of automobiles, including EVs, will accelerate the deployment of automotive drivetrains in the foreseeable future.  

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Surge in Electric Vehicle Demand To Encourage Smart E-Drive Adoption in Future

According to the International Energy Agency (IEA), the total number of battery electric vehicle (BEV) cars and BEV vans will rise from 6,850,327 units in 2020 to 79,975,992 units by 2030 and 427,525 units in 2020 to 11,041,648 units by 2030, respectively. Furthermore, the organization also forecasts that the stock of plug-in hybrid electric vehicle (PHEV) cars and PHEV vans will expand from 3,346,713 units in 2020 to 44,355,904 units by 2030 and 8,384 units in 2020 1,959,625 units by 2030, respectively. 

The burgeoning penetration of electric vehicles (EVs) and hybrid vehicles is expected to strengthen the smart e-drive market in the foreseeable future. The rising shift toward EVs and hybrid vehicles can be primarily owed to the surging need to reduce the level of greenhouse gases (GHGs), which are largely emitted by vehicles. For example, the U.S. Environmental Protection Agency estimates that on-road vehicles emitted 1,512.7 teragrams of carbon dioxide equivalent (Tg CO2 Eq) of CO2, 32.7 Tg CO2 Eq of hydrofluorocarbons (HCFs), and 9.3 Tg CO2 Eq of nitrogen dioxide (N2O) in the U.S. in 2019.

Smart E-Drive Market Report

 

All-wheel drive (AWD), rear-wheel drive (RWD), and front-wheel drive (FWD) systems offered by Magna International Inc., Hyundai Mobis Co. Ltd., BorgWarner Inc., Robert Bosch GmbH, Continental AG, Infineon Technologies AG, GKN plc, Siemens AG, AISIN SEIKI Co. Ltd., Hitachi Ltd., Schaeffler AG, MAHLE GmbH, and ZF Friedrichshafen AG are used for e-axle and wheel drive applications. In recent years, AWD gained prominence over RWD and FWD due to the rising need for better acceleration, traction, and towing capabilities in multi-utility vehicles (MUVs) and sport-utility vehicles (SUVs). 

Globally, the European region is expected to lead the smart e-drive market in the coming years. This will be on account of the burgeoning demand for EVs and hybrid vehicles and toughening vehicle emission norms in the region. Additionally, the presence of prominent automotive original equipment manufacturers (OEMs) such as ZF Friedrichshafen AG, Robert Bosch GmbH, and Continental AG and the rapid expansion of charging infrastructure will also facilitate the adoption of smart e-drive features in European countries. 

Thus, the soaring number of EVs and hybrid vehicles and the increasing implementation of stringent emission control norms will result in the widescale usage of smart e-drive features.  

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Strong Road Safety Focus Driving Demand for Insulated Automotive Cabins

As per the United Nations (UN), the global population will increase from 7.7 billion in 2019 to 10.9 billion by 2100. This is directly resulting in the rising sale of automobiles, as more the people, the more the vehicle buyers. While vehicles fulfill the basic purpose of transporting people, comfort and luxury are also becoming important factors influencing their sales. With a higher disposable income, people are now preferring premium vehicles that offer a higher level of comfort.

Hence, P&S Intelligence expects the automotive cabin insulation market to witness robust growth in the years to come. Cabin insulation has many practical advantages, such as reducing the level of noise from the engine and outside in the passenger area of the vehicle and allowing for better temperature control. As the reduced loss of heat from the cabin during winters drives down the load on the heater and the reduced gain of heat during summers decreases the load on the air conditioner, the requirement for electrical energy comes down.

Automotive Cabin Insulation Market

This means that the auxiliary battery in a car, bus, or truck takes longer to deplete, which leads to a lower requirement for the engine to charge it continuously. This can not only reduce the consumption of fuel, but use more of whatever is being consumed into propelling the vehicle, thus improving the mileage. Even though such benefits may be small in the short run, vehicle owners usually benefit considerably over the long term. Hence, this factor may be more important for fleet owners, whose fuel expenses are a lot higher than individual vehicle owners.

As a result of all such factors, Asia-Pacific (APAC) is expected to continue to dominate the automotive cabin insulation market in the coming years. China, India, South Korea, and Japan produce the most automobiles around the world, which is why the demand for automotive components is the highest here. Further, with the rising purchasing power of people, the demand for luxury cars with insulated cabins is rising. Similarly, the public transportation sector of the region is rather large, and despite the millions of public buses, they need more to cater to their burgeoning population.

Hence, with the rising sales of buses, trucks, and luxury cars, the demand for insulating materials for the driver’s cabin will continue to increase.

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How is Adoption of Advanced Medical Devices Driving Medical Electrodes Demand?

 The International Diabetes Federation (IDF) states that around 463 million adults, aged 20–79 years, were living with diabetes in 2019. Additionally, the organization also mentions that this lifestyle-associated disease caused 4.2 million deaths in 2019, and it will affect approximately 700 million people by 2045. Additionally, the World Health Organization (WHO) estimates that cardiovascular diseases (CVDs) were responsible for nearly 17.9 million fatalities in 2019. The organization also states that cancer accounted for around 10 million deaths in 2020.

Access Report Summary - Medical Electrodes Market Growth Forecast Research Report

Thus, the increasing prevalence of chronic and lifestyle-related diseases will help the medical electrodes market progress at a CAGR of 6.7% during 2021–2025. As the patients suffering from chronic illnesses are extremely prone to several disabilities and require constant medical attention, medical professionals are using medical electrodes to offer a statistical basis for medical diagnosis and treatment to affected people. According to P&S Intelligence, the market was valued at $842.9 million in 2020 and it will generate $1,151.6 million revenue by 2025. 

In recent years, medical electrode manufacturers have introduced new products and engaged in the approval process to provide better diagnosis and avoid contamination among patients. For example, in September 2019, Johnson & Johnson introduced the Megadyne Mega Soft, a new reusable electrode, to enhance comfort and eliminate adhesive-related injuries in patients. Likewise, Nihon Kohden Corporation unveiled premium disposable gold-cup EEG electrodes in April 2020 to prevent cross-contamination among patients while maintaining high-quality EEG signals. 

In the coming years, the Asia-Pacific (APAC) region will adopt a substantial volume of medical electrodes due to the mounting healthcare expenditure, booming aging population, and surging incidence of chronic diseases. For example, the United Nations Population Fund (UNFPA) predicts that nearly 1.3 billion people in the APAC region will be aged 60 years and above by 2050. Further, the WHO estimates that CVDs accounted for approximately 27% of deaths in India in 2016. Similarly, India Against Cancer states that 7,84,821 cancer-related deaths were recorded in India in 2018. 

Thus, the rising incidence of lifestyle-associated and chronic ailments and burgeoning demand for advanced diagnostic equipment and instruments in healthcare settings will facilitate the adoption of medical electrodes globally.  

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Awareness on Autoimmune Disorders To Drive Autoimmune Disease Diagnostics Demand

 The Multiple Sclerosis International Federation (MSIF) states that 2.8 million people around the globe were living with multiple sclerosis in 2020, and this autoimmune disease affects around 1 in 3,000 people worldwide. Further, the American Lung Association estimates that approximately 200,000 new cases of sarcoidosis are recorded in the U.S. each year. Additionally, the National Organization for Rare Disorders states that 1 in 10,000 individuals around the world are affected by systemic scleroderma, and this autoimmune disorder is highly prevalent among the Australian and North American populations.

Browse In-depth Autoimmune Disease Diagnostics Market Research Report

In recent years, several researchers have discovered new biological markers or biomarkers to diagnose autoimmune diseases. For example, in August 2019, researchers at the University of Alberta discovered a new biological marker to identify the existence of myasthenia gravis, a rare autoimmune disease. This biomarker can also be utilized for formulating new personalized treatment procedures and predicting the course of the disease. Scientists around the world are also discovering biomarkers to detect multiple sclerosis, rheumatoid arthritis (RA), sarcoidosis, scleroderma, systemic lupus erythematosus (SLE), and sjögren's syndrome.

These autoimmune disease diagnostic products are used in academic institutes and research centers, hospitals, and diagnosing centers in autoantibodies and immunology, cytokine, flow cytometry, human leukocyte antigen (HLA), inflammatory marker, and routine laboratory tests. Currently, hospitals are the largest user of such products, owing to the improving healthcare infrastructure, the rising prevalence of chronic autoimmune disorders, the soaring number of awareness programs and campaigns being conducted by public and private organizations, and the increasing deployment of technologically advanced medical devices by these healthcare facilities.

Globally, the North American autoimmune disease diagnostics market generated the highest revenue during the historical period, on account of the mounting healthcare expenditure, soaring aging population, and increasing cases of autoimmune diseases in the region. Additionally, the presence of leading market players also contributes to the regional market growth. Whereas, the Asia-Pacific (APAC) market is expected to display the fastest growth throughout the forecast period, owing to the booming elderly population and mounting public awareness regarding autoimmune diseases in regional countries. 

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