United States Bus Market Is Driven by Rising Government Spending on Public Transportation

The U.S. bus market will reach $11,237.7 million by 2030 at a CAGR of 4.7% during the forecast period, from $7,453.4 million in 2021. This is owing to the rapid urbanization and rising government spending on the advancement of public transport vehicles. Compared to traveling by personal vehicles, they conserve fuel and release lower levels of volatile chemicals into the air. Apart from this, they also meet economical standards, as the cost of traveling by public transport is a lot less than that of a single gallon of gasoline and diesel.

The electric category in the U.S. bus market will have the fastest growth within the propulsion segment, at a CAGR of approximately 30%, in the coming years. This can be ascribed to the subsidies, financial incentives, and tax credits offered by the federal and state governments on the sale of electric buses. Since these are high-occupancy vehicles, they certify for exemptions from toll charges in various states, such as Colorado, Georgia, California, Hawaii, and Arizona.  

The schools bus category dominated the United States bus market, with approximately 55% share, in 2021. The same trend will be resumed in the vehicle type segment in the forecast period owing to the status of these buses as the largest sources of mass transportation in the nation. Standard buses are used extensively in schools as well as public transportation. It will maintain the dominance in the market at a higher growth rate owing to the negligible demand for customizable buses in schools.  

U.S. Bus Market Research Report 2022-2030 

To obtain a competitive advantage, major companies in the U.S. bus market have participated in partnerships, collaborations, and product launches in recent years. These companies are NFI Group Inc., AB Volvo, Blue Bird Corporation, BYD Company Limited, GreenPower Motor Company Inc., Lion Electric Company, Daimler Truck AG, GILLIG LLC, Navistar International Corporation, and REV Group Inc. For instance, the BZL Electric bus chassis was launched by AB Volvo in the country in September 2021. These buses are designed to help governments transition their public transportation fleets to non-emission variants.

Hence, the rapid urbanization and rising government spending on the advancement of public transport vehicles will offer lucrative opportunities in the market.

Read More

How Rising Cost of Farm Labor Drives Western and Central Europe Agricultural Machinery Market?

The Western European agricultural machinery market was valued at over $35 billion in 2021, which is expected to advance at a CAGR of 3.4% from 2022 to 2030. Similarly, the Central European agricultural machinery market accounted for more than $10 billion in 2021, and it will rise at a CAGR of 4.3% during 2022−2030. The need to expand the existing farm production capability gives chances for enterprises wishing to enter the agriculture industry of Europe, thus resulting in increasing agricultural equipment sales across the continent in the long run.

In Europe, agriculture has always been a labor-intensive business. However, as people relocate to urban areas, the employment rate of the sector decreases. Farmers are increasingly turning to advanced technology to replace physical labor, as the latter is more cost-effective, accessible, and efficient. Due to a lack of agricultural workers, labor expenses are rising. France was short of roughly 200,000 people till the end of May 2020, while Spain was short of 70,000 to 80,000. Italy requires roughly 250,000 seasonal laborers, compared to 70,000 to 80,000 in the U.K. and 300,000 in Germany, which would increase the demand for agricultural machinery.

Germany is a pioneer in mechanizing agriculture, which is why it held the largest share in the Western European agricultural machinery market in 2021, of roughly 40%. Furthermore, the Netherlands dominated the Central European agricultural machinery market, with a share of roughly 25% in 2021. The want to increase farming productivity, add value to agricultural raw materials, minimize post-harvest loss, and improve the quality of agricultural products is driving the market in these regions. Furthermore, these countries are the world's top exporters of agricultural goods owing to the widespread use of automated farming.

Major Western and Central European agricultural machinery market participants are announcing alliances, new launches, and expansions to acquire a competitive advantage. For example, Deere & Company presented its completely autonomous tractor for increasing agricultural productivity, at CES 2022 in January 2022. It includes a Deere 8R tractor, a TruSet-enabled chisel plow, a GPS navigation system, and other modern features. In addition, Yanmar Holdings Co. Ltd. introduced a new agricultural solution for winemakers in October 2021: a vineyard robot that offers a variety of benefits, including increased production, greater safety, adaptability, and savings.

Hence, the market is expected to grow in the coming years because of a lack of agricultural laborers and a need to increase agricultural productivity to feed the increasing population.

Read More

What Is Potential of U.A.E. & Saudi Arabia Property Management Software Market?

The main factors for the U.A.E. & Saudi Arabia property management software market growth are the increasing demand for the SaaS model of associated software, growing need for remotely conducting property management, and growing construction activities. Moreover, the high rate of population growth, urbanization, and high influx of people from overseas are responsible for the growth of the market. The value of the UAE and Saudi markets was $53.9 million and 37 million, respectively in 2021. Moreover, the CAGRs of the market in the countries during 2021–2030 will be 7.5% and 6.5 %, respectively.

In a pandemic, people were forced to work from home rather than from an office; therefore, there is a need for mobility in terms of access to office resources and data. To keep pace with the flow of work and manage a workforce, various companies are in search of solutions for property-management-related tasks, such as finding tenants, collecting rent, and managing rent agreements. This trend will continue to drive the U.A.E. & Saudi Arabia property management software market over this decade.

The use of the software through the cloud is predicted to register a high CAGR in the years to come. The cloud aids property management companies to make use of remote servers to store and process data. The growing volume of data being generated through websites and mobile apps, more focus on bringing customer-friendly applications, increasing customer satisfaction, and rising need to keep the capital expenditure in check are scalating the development of the U.A.E. & Saudi Arabia property management software market in this deployment category.

The main players in the U.A.E. & Saudi Arabia property management software market are actively involved in launches and mergers to maintain a competitive edge.  For example, Focus Softnet Pvt. Ltd. Introduced ERP Focus X in October 2021, which has next-gen AI and RPA and improved integrations for fast, secure banking, along with dedicated portals for buyers and sellers. Such software allows property management firms that do not have offices in the said countries to carry out the regular maintenance of the spaces they manage remotely.

Hence, the market is growing because of the increase in the population in the U.A.E. and Saudi Arabia.

Read More

How Technological Advancements Are Helping Recycled Plastic Market Advance

The size of the worldwide recycled plastic market was around $59,777.3 million in 2021, which is expected to advance at a CAGR of 8.5% in the coming years and reach a value of $124,314.1 million by 2030. The primary factors driving the growth of the market include the increasing focus on reducing the volume of plastic waste, supportive government policies and initiatives to surge the acceptance of recycled products, and growing awareness of energy savings.

The revenue produced from plastics recycled from packaging materials is likely to grow with over 8% CAGR in the market in the near future. This can be credited to the relative ease of recycling packaging materials produced from bottles, films, pouches, and wraps. Moreover, the increasing demand for reprocessed products and ease of commercial adoption of power-driven recycling for packaging waste drive the market. Additionally, government initiatives and policies focusing on integrating recyclable materials in the packaging industry, to decrease the volume of non-recyclable waste, are projected to help the market growth.

APAC had the largest revenue share in the recycled plastic market in 2021. The region has a lot of potential for producing recycled plastics due to the increasing imports of plastic waste and accessibility of domestic waste and low-cost labor, which permits easier collection, cleaning, and sorting. These factors have played a major part in the market growth in the countries like China and India, which account for a huge volume of plastic waste production.

The European recycled plastic market will grow at the highest CAGR in the coming years. This can be ascribed to the expansion of domestic recycling facilities, banning of plastic waste import by China, government policies for resurging local manufacturing, and environmental sustainability targets intended at integrating recycled products throughout the supply chain. The adoption of technological advancements in recycling plastic has helped the market in this region advance at a significant pace.

Cutting-edge technologies in the field of plastic recycling are helping in the expansion of the recycled plastic market by keeping more plastics out of the environment and putting it to productive use. The plastic industry is continuously developing and coming up with new ideas for recycled plastics. As per a study published in AMI International, progressive recycling technologies could process 5–15 million tons of added plastic waste every year by 2030.

The food and beverage industry is the largest in terms of recycled plastic market revenue generation, owing to the high volume of plastics consumed for product storage and transportation in bottles, packaging films, trays, bins, and disposables, which is responsible for the generation of a large volume of plastic waste. The volume of waste produced by the food and beverage industry puts companies under pressure to integrate the recycling process into the whole supply procedure. 

One of the key players in the beverage industry, Coca-Cola, has decided to lessen packaging waste in the U.S. and around the globe.  It was decided to collect and recycle a bottle or can for every unit sold by 2030, to make the entire packaging recyclable by 2025, and to make bottles and cans with 50% recycled materials by 2030. The plant-based PET bottle of the company, which is 100% recyclable, has already started making waves in the field.

Hence, the industry is set to grow with the rising technologies entering the domain of plastic recycling.

Read More

Europe Electric Car Market Driven by Extensive Government Support

The European electric car market is witnessing rapid growth owing to the elevation in the consumer demand for shared mobility, strict government policies to lower the pollution levels, reduction in the costs of batteries, and improvements in the environmental awareness among consumers. In April 2022, 684,506 electric cars were sold in Europe, as per the ACEA. EVs accounted for about 10% of the total passenger cars registered in the European Union that year, as per the data of the ACEA.

Germany is expected to be one of the highest revenue generators in the European electric car market, attributed to its commitment to environmental sustainability, a strong industrial base, and the automotive manufacturing strengths, which give it an edge over other countries in Europe, such as Norway. In addition to this, German consumers benefit from a 10-year exemption from ownership tax on electric vehicles purchased between 2011 and 2030. All the benefits offered by the government, coupled with the industrial expertise, will strengthen the German EV supply chain logistics.

Europe Electric Car Market Report by P&S Intelligence 

The HEV category, based on propulsion type, will be potentially large in the European electric car market, owing to the regenerative braking system, smaller engines, lighter raw materials, and consequently lower energy requirements of these vehicles. The FCEV category will also observe growth owing to the fast refueling and zero tailpipe emissions of these variants, rising number of government initiatives for setting up hydrogen stations, and increasing expenditure on the R&D of the hydrogen fuel cell technology. 

The outbreak of the novel coronavirus fractured the European electric car market, like many other sectors, by disrupting supply chains and limiting the workforce. It had a deep impact on consumer behavior, as people reduced their spending on purchasing a car and on shared mobility services, while the manufacturing facilities were paralyzed in the first half of 2020 due to the lockdown measures.  However, the automotive sector recovered soon owing to the strong government support, which benefitted the manufacturers and the consumers.

Therefore, a strong industrial base, coupled with the extensive government support, will burgeon the adoption of the electric cars in the continent.

Read More

Due to Increasing Data Volumes, Data Center Market Size Will Reach $343.6 Billion in 2030

 The global data center market size was about $220.0 billion in 2021, which is likely to increase with a CAGR of 5.1% to $343.6 billion by 2030. A significant increase in data is a principal factor contributing to the market growth. The key reasons the demand for these facilities is increasing with each passing day include the rising usage of social, mobile, analytics, and cloud services. Recently, there is an explosion in the use of social media platforms, which calls for the development of data centers to store all the data.

Data Center Market Report by P&S Intelligence 

IT infrastructure contributes the highest revenue in the data center market as it includes server, storage, and network infrastructure, which are the mainstay of such facilities. The demand for these components will further intensify in the future with around 5% CAGR. At present, businesses are shifting their data from their existing on-premises servers to data centers to allow for better data management, as data analysis has become integral to business growth, in addition to the public good.

North America had the largest share, of around 40%, of the market in 2021, and it will grow at a significant CAGR in the industry. The U.S. possesses more than 2,600 such centers, many of which are situated in northern California, which is home to the headquarters of many IT firms. including Google, Facebook, Uber, Twitter, and Yelp. North America also has highly innovative, extensive, and efficient technological infrastructure, which offers opportunities to companies offering various components and services for the construction of such facilities.

The COVID-19 pandemic has contributed to the strong growth of the data center market globally. Additionally, the adoption of cloud-based services by government agencies, along with online learning and contactless payments, aided in the growth of the market. Thus, the number of data management centers increased during the pandemic. For instance, in 2021, there were nearly 8,000 such centers around the world. The U.S. the U.K., Germany, China, Canada, and the Netherlands had most of them.

Hence, the industry boomed amidst the pandemic due to the rise in the volume of data because of the burgeoning usage of online platforms.

Read More

Central European Heavy Ground Transportation Vehicles Market Is Set To Hit $66.6 Billion by 2030

In 2021, the Central European heavy ground transportation vehicles market was worth $42.9 billion, which is set to grow to $66.6 billion by 2030, at a CAGR of 5.0% from 2021 to 2030. The market is being driven by the growth in commercial activities and rise in the rate of urbanization, which are boosting the demand for the transportation of freight and people. Moreover, technological advancements, most prominently those in the propulsion, are making these vehicles increasingly popular.

Trade necessitates effective goods transportation, which enhances the Central European heavy ground transportation vehicles market growth potential. Regional countries have several trade agreements with each other, which necessitates efficient transportation. For instance, Austria’s key exports include specialized industrial power machinery, medicines, glassware, machinery, and foodstuffs typically through ground transportation to Germany, France, Italy, and Switzerland. This has been driving the demand for light- and heavy-duty trucks, thereby fueling the growth of the market.

Because of the increasing focus on electric transmission, truck sales account for largest share, in terms of revenue, in Central Europe. Regional nations are attempting to minimize greenhouse gas emissions, particularly from road traffic, as well as their reliance on oil. Mercedes-Benz and AB Volvo Group AG, for example, are increasing their R&D investment in order to develop transportation for futuristic cities. Autonomous driving, e-mobility, and connected cars will result in roads that are cleaner, quieter, and safer, which would be imperative for megacities built around the ideas of higher convenience and sustainability.

To obtain a competitive edge, companies in the Central European heavy ground transportation vehicles market have been releasing new products and forming strategic alliances and collaborations. For example, to accomplish comprehensive decarbonization of the transportation sector, Daimler Truck AG, AB Volvo, IVECO, Shell PLC, and OMV Group work partnered to launch H2Accelerate zero-emission hydrogen vehicles in Europe in December 2020. This is in tune with regional countries’ strong efforts to meet the climate neutrality targets decided by the Paris Agreement.

Hence, the rise in trade activities advances the growth of the Central European market.

Read More