Western Europe Heavy Ground Transportation Vehicles Market To Reach $271.5 Billion by 2030

From $155.4 billion in 2021, the Western European heavy ground transportation vehicles market size is set to reach $271.5 billion by 2030 with a CAGR of 6.4%. This is attributed to the introduction of advanced automotive technology, rapid urbanization, and rise in the scale of trade among regional nations. Moreover, the integration of digital technologies and electric propulsions is allowing for the development of truck and trailer telematics solutions for a smarter logistical network.

Transit buses dominated the Western European heavy ground transportation vehicles market, and they are also projected to grow with the highest CAGR in the coming years. Buses are the most used public transport in the region and a vital contributor to tourism. Furthermore, these automobiles improve social inclusion by providing access to education, employment, and healthcare to all, including those with low income, non-drivers, the elderly, the disabled, and those living in remote areas.

Conventional trucks created the highest revenue in the Western European heavy ground transportation vehicles market in 2021. These trucks are the most common as they are less expensive as opposed to hybrid, electric, and fuel cell variants. Furthermore, they are more comfortable driving for long distances because of their longer wheelbase. Additionally, they are less hassle-prone to inspect and maintain because it is quite easy to lift their bonnet over those employing other propulsive technologies.

 Furthermore, the large number of trade agreements between neighboring countries boost the demand for buses and trucks. For example, Germany is the closest neighbor as well as the one of the biggest trade partners of France. Both the countries are involved in trade through different means of transportation, thereby offering lucrative opportunities to commercial vehicle OEMs. While France is a major exporter of wines, Germany is known for its automobiles, electrical goods, beers, and the many types of sausages

Hence, the growth of the market is mainly because of the rapid urbanization and technological innovations.

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How Will Agriculture Sector Steer Ethylene Vinyl Acetate Market Growth?

A number of factors such as the surging agricultural activities, increasing solar PV installation, and burgeoning demand for ethylene vinyl acetate in several industries are expected to drive the ethylene vinyl acetate market at 7.2% CAGR during 2021–2030. According to P&S Intelligence, the industry was valued at $7,060.8 million in 2021, and it will generate $13,149.7 million revenue by 2030. In recent years, the increasing number of mergers and acquisitions among leading players has become a key market trend.

A surge in agricultural activities, on account of the growing population, is expected to drive the demand for ethylene vinyl acetate in the future. As per the UNFPA, the global population will increase from 7.7 billion in 2020 to 9.7 billion by 2050 and could reach approximately 11 billion around 2100. The organization also states that Asia, Africa, Europe, Latin America and Caribbean, North America, and Oceania is home to 4.7 billion, 1.3 billion, 750 million, 650 million, 370 million, and 43 million people, respectively.

Moreover, the increasing PV installation, owing to the surging focus of governments and people on renewable energy, will also support the ethylene vinyl acetate market growth. As solar power is the cleanest renewable energy source and is available in abundance, developed and developing countries around the world are aggressively focusing on the installation of solar power plants. Ethylene vinyl acetate refers to a thermoplastic polymer that is used as an encapsulating agent in solar modules because it offers an insulating and sealing coating over PV cells.

The foam category, within the application segment, accounted for the largest share in the ethylene vinyl acetate industry in 2021. This was primarily on account of the booming end-use industries, such as building and construction, furniture, automotive, healthcare, consumer goods, sports equipment, and electronics, in emerging economies, such as China, India, and Thailand. The growth of these end-use industries can be credited to the economic growth of countries and the surge in disposable income of people. Owing to this factor, the category is expected to witness the fastest growth throughout this decade.

At present, the ethylene vinyl acetate industry is fragmented in nature, due to the presence of numerous players, such as ARLANXEO Holding B.V., Arkema Group, Asia Polymer Corporation, Braskem S.A., Celanese Corporation, Clariant AG, and The Dow Chemical Company. Nowadays, the market players are focusing on product launches to consolidate their position. For example, in August 2021, Braskem S.A. unveiled HD1954M, a new HDPE resin, which delivers rigidity, productivity gains, impact strength, and packaging optimization. 

Globally, the APAC ethylene vinyl acetate market generated the highest revenue in 2021, and it is also expected to continue witnessing this trend in this decade. The dominance can be credited to the booming population, increasing urbanization and commercial activities, and mounting disposable income of people. Additionally, the flourishing footwear and packaging industries will also contribute to the market growth in the region. Furthermore, the APAC market is also expected to exhibit the fastest growth in the coming years, due to the burgeoning demand for durable plastic products from the PV panel, footwear, and pharmaceutical sectors. 

Thus, the increase in agricultural activities and the wide-scale installation of solar power plants are expected to create a high demand for ethylene vinyl acetate across the world.

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Education Technology Market Is Expected To Reach $998.4 Billion by 2030

EdTech solutions are likely to evolve with the advancements in technologies such as IoT and AI. The integration of AR and VR in these solutions allows for a more-interactive learning experience for students. It aids students to cope with abstract concepts and produce better results. Asa result of these benefits, the worldwide education technology market size was $237.6 billion in 2021, which is expected to reach $998.4 billion by 2030, at a CAGR of 17.3% during 2021–2030. Moreover, many countries have been emphasizing smart classes, especially during the pandemic.

Education Technology Market by P&S Intelligence 

The hardware had around 60% revenue share in 2021 due to the rising importance of digital classrooms in the education industry. For example, the popularity of interactive whiteboards has swelled as they offer a better experience. They include dry-erase surfaces, digital pens, communication software, and other multi-touch choices. Users save and share notes across a variety of digital devices, including tablets, smartphones, and laptops, which has allowed to uninterrupted education during the COVID-induced lockdowns.

APAC region has a major share in the education technology market because of the growing usage of the internet and smart devices. Furthermore, the rising investment in developing countries, such as India and China, aids in widening the accessibility of digital devices for students. The rising number of vendors providing remote learning services correspondingly drives the market growth. China has the most-extensive education system, with 282 million students and 17.32 million teachers in over 530,000 schools.

The growing demand for EdTech solutions is a reflection of the rising awareness of their potential in taking economies forward. The pandemic has compelled many investors and EdTech companies to evolve in the new digital learning model. The stalwarts have expanded their product offerings using digital technologies, to ensure uninterrupted learning. The pandemic encouraged many students to improve their skills and augmented their reliance on educational technology.  It helped the education technology market grow and ensure that education remains non-disrupted even during COVID-19.

The market has progressed by leaps and bounds since the outbreak of the pandemic, with the transformation of the education sector by virtual platforms.

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How Will Housing Unit Demand Strengthen India Residential Diesel Generator Set Market?

The Indian residential diesel genset market will grow at a CAGR of 7.1% during 2020–2030, due to the increasing construction of residential units and the surging need for hybrid, inverter-based, and bi-fuel generators. In addition, the rising incidence of power cuts in the country will also attribute to the market growth in the coming years. According to P&S Intelligence, the industry was valued at $91.3 million in 2020, and it will generate $184.9 million revenue by 2030.

The increasing number of residential buildings, owing to the vast population and rapid urbanization, will drive the demand for residential diesel gensets in India.  For instance, according to the 2022 World Population Review, the number of people in India will grow from 1.4 billion in 2020 to 1.6 billion by 2050. Further, as per the World Bank, the urban population of the country grew from 471,031,529 in 2019 to 481,980,332 in 2020. The population surge and rapid urbanization have encouraged government and industrialists to encourage housing units, which deploy such generator systems in abundance.

In recent years, the rising preference for high-power-rating gensets over low-power-rating gensets, owing to the surging electricity demand, has become a prominent trend in the Indian residential diesel genset market. Airports, real estate spaces, and data centers of the country are the prominent users of high-power-rating generator set. The increasing need for electricity can be attributed to the vast population of the country.

Geographically, the Tamil Nadu residential diesel genset market is expected to register the fastest growth in the coming years in India. This can be primarily credited to the burgeoning demand for housing units in the state. The total population of Tamil Nadu will grow from 76,402,000 in 2021 to 77,546,000 by 2026 and 78,082,000 by 2031, as per the National Commission on Population Ministry of Health and Family Welfare. The number of men and women will surge from 38,165,000 in 2021 to 38,654,000 by 2026 and 38,237,000 in 2021 to 38,892,000 by 2026, respectively.

Thus, the increasing number of housing projects will propel the demand for residential diesel gensets in India.

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How Are Government Initiatives Driving Qatar Facility Management Market?

The biggest reason behind the growth of the Qatar facility management market is the rapid scale at which infrastructure is being constructed in the country, in preparations for the FIFA World Cup 2022 and as part of its National Vision 2030. Therefore, a robust 17.3% CAGR will take the revenue of the market to $22,268.2 million in 2030 from $5,285.1 million in 2021. Facility management includes a lot of services that help maintain built structures, such as residential units, commercial spaces, and industrial facilities, in optimum working condition.

Among the various services available with Qatar facility management market players, property services generate the highest revenue. This is because they are essential for the normal functioning of buildings, as they include electrical and mechanical maintenance and HVAC maintenance. Moreover, compared to other facility management services, they are of a critical nature and provided by skilled technicians, which is why they cost more. Similarly, owing to the rising awareness on hygiene, the demand for cleaning services is set to witness the highest CAGR in the coming years.

The commercial category dominates the end user segment of the market, and it is projected to continue doing so in the near future. Since commercial spaces host a lot of people every day, they require extensive facility management. Moreover, a good-looking property and one that has everything in order also attracts tenants, which is another reason commercial spaces, such as hotels, stadia, educational institutions, and shopping malls, require regular facility management. Similarly, it is imperative for healthcare facilities to be clean and have their key systems in working condition.

In regards to infra development, a big trend in the Qatar facility management market is green buildings. Due to the surging concerns related to GHG emissions and the need to reduce the consumption of oil and gas to produce energy, green, or net-zero energy buildings, are being increasingly constructed in the country. These spaces have onsite solar and wind power infrastructure, and they do not consume any energy that has not been produced on the site.

Hence, with Qatar ramping up its infrastructure, it offers lucrative opportunities to entities providing facility management services.

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Catheter Market to Register 8.8% CAGR during 2020–2030

The prevalence of chronic diseases, such as cancer, cardiovascular diseases, urinary tract infections, and neurological diseases, is increasing rapidly across the globe, which is leading to the rising demand for medical devices, such as catheters. For example, as per the Global Cancer Observatory 2018, the third leading cause of cancers globally was gastric cancer, which accounted for 783,000 deaths in 2018, rising from 723,000 deaths in 2012. 

Among all these, the demand for cardiovascular catheters was the highest in the past, which is majorly ascribed to the surging incidence of cardiovascular diseases around the world. The requirement for these devices also witnessing growth because of their increasing utilization for diagnosing and treating cardiovascular diseases. Different types of cardiovascular catheters are intravascular ultrasound/optical coherence tomographic, electrophysiological, balloon, and angiographic. Other than this, the demand for urological catheters is also predicted to grow considerably in the years to come, which is primarily due to the increasing geriatric population. 

Geographically, North America was the major consumer of catheters in 2019, which is ascribed to the rising healthcare expenditure, increasing prevalence of chronic diseases, growing aging population, presence of key companies, and surging number of initiatives that are being taken by private and public organizations for creating awareness regarding the usage of catheters. Apart from this, the Asia-Pacific (APAC) region is projected to emerge as the fastest-growing catheter market in the coming years. This can be primarily due to the enhancing healthcare infrastructure and presence of key companies in the region. 

In conclusion, the demand for catheters is growing because of the surging prevalence of cardiovascular diseases around the world. 

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How Are Blood Donation Campaigns Driving Test Volume?

“About 422 million people worldwide have diabetes, the majority living in low-and middle-income countries, and 1.6 million deaths are directly attributed to diabetes each year.”, says the World Health Organization (WHO). Other common chronic diseases are various cardiovascular diseases (CVDs) and cancers, asthma, and chronic obstructive pulmonary disease (COPD). While many of these are treatable, others are merely manageable. In either case, an effective diagnosis is necessary to initiate the care regimen.

The most-most common type of diagnostic tests is blood and urine tests, along with biopsies and others in which a tissue or fluid is taken from the body and then experimented upon in a lab. Therefore, with the increasing incidence of chronic and acute diseases that require such tests for their detection, the in vitro diagnostic market is expected to witness a 6.6% CAGR between 2020 and 2030. P&S Intelligence says, that at this rate, the revenue generated from the sale of testing products will rise from $63.5 billion in 2019 to $127.4 billion by 2030.

In this regard, the menacing COVID-19 infection is driving the volume of IVD tests. With the cases rising rapidly despite containment measures, including factory and commercial complex shutdowns, restrictions on non-essential movement, mandates for wearing masks in public places, and general social distancing, the infection is spreading fast. Therefore, many biotech companies have swung into action to launch improved test kits to catch this infection. Moreover, people infected with COVID-19 are showing numerous complications and comorbidities, which is, in turn, driving the demand for IVD testing kits, reagents and instruments, and associated software and services.

Hence, as the awareness about effective disease diagnosis and blood screening grows, so will the demand for the various products used for IVD tests.

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