Electric Bike Market Trend in North America Region- Regional Outlook, 2015–2024

The North American electric scooters and motorcycles market is likely to reach $675.7 million by 2024, with a CAGR of 28.4%, according to P&S Intelligence.

Emergence of electric scooter sharing fleet, government policies and incentives, development in battery technology, and low maintenance cost are the key factors driving the growth of the market.

Emergence of electric scooter sharing fleet is responsible for the growth of the North American electric bike and scooter market. Many new sharing service providers have started to deploy electric scooters and kick scooters in their fleet. Further, the      availability of smart charging stations and application of these vehicles in food and beverages delivery services are opening up new opportunity for the growth in the market.

Insights into market segments

On the basis of battery, the North American electric scooters and motorcycles market is categorized into lead acid- and li-ion-based electric scooters and motorcycles. Of these, the li-ion battery-based electric scooters and motorcycles dominated the market during the historical period and is expected to continue dominating the market during the forecast period. Falling prices of li-ion batteries, coupled with their inherent advantages such as lightweight, small size, high energy density, low maintenance, and low self-discharge over other batteries are expected to benefit the market during the forecast period.

Based on application, the North American electric scooters and motorcycles market is classified into sharing services, food and grocery, and personal users. Among these, sharing service application is expected to be the largest category during the forecast period. This is because the sharing service makes customers free from hassles involved in owning their own vehicles and it offers easy commuting for short distances.

What are the factors impacting the growth of this market?

1. Favorable government incentives and federal tax credits are a major driver in the market

1. High purchase cost of the vehicle is a major restraining factor in the market

Growing importance for environment-friendly transportation systems in order to reduce greenhouse gas (GHG) emissions is one of the major factors enabling governments to support the sales of electric scooters and motorcycles. The support is provided by offering several incentives and tax credits to customers at the time of purchase of these vehicles, which trigger the growth of the North American electric scooters and motorcycles market. Selected regions, states, and cities provide incentives for buying electric motorcycles. For instance, in 2017, the Government of California offered 10% federal tax credit for the purchase of electric motorcycle, up to $2,500, in that year. Also, Clean Vehicle Rebate Project (CVRP) promotes adoption of clean vehicles in California by providing rebates of up to $900 for the purchase of electric motorcycle in the state.

The U.S. stands as larger market for electric scooters and motorcycles in North America

The U.S. was larger market for these vehicles, in terms of volume, contributing close to 85% share to the North American electric scooters and motorcycles market in 2018. Factors driving the growth of the market in the U.S. are faster adoption of electric vehicles (EVs) in the country, support by the government in form of financial and non-financial incentives for the procurement of these vehicles, and high commuter base.

Market Competitive landscape

The major players operating in the market are KTM North America Inc., Razor USA LLC, Segway Inc., TORROT ELECTRIC EUROPA S.A., Zero Motorcycles Inc., Mahindra GenZe, Energica Motor Company S.p.A., and Alta Motors. 

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How are Rising Food Safety Concerns Driving Mass Spectrometry Market?

Food quality and safety is a vital public health issue, and it has become a major concern for people these days due to the presence of chemicals, toxins, and pathogens in food. As per the University of Rhode Island Department of Food Safety Education, about 33 million people fall ill because of foodborne illnesses every year in North America. Food contamination can originate from various sources, for example food safety is affected by the quality of water that is utilized in the processing and production of food. For maintaining the quality and safety of food, the presence of required microorganisms and the ones which may lead to spoilage in food is mandatory. Hence, food companies and government authorities use various analytical techniques for monitoring contamination to detect and mitigate risks. Due to this, the demand for microbial identification devices, specifically those based on mass spectroscopy, is increasing, as this technique provides a versatile approach in testing food samples along with both qualitative and quantitative data.

Mass spectrometry technique is utilized to quantify and identify molecules in complex and simple mixtures. The identification and ascertainment are done by separating the ions based on their mass to charge ratio which is measured by making use of a mass spectrum. As per a study conducted by the P&S Intelligence, the global mass spectrometry market reached a value of $4,948.3 million in 2015 and is predicted to register a CAGR of 8.1% in the coming years. Various applications of mass spectrometry include proteomics, clinical testing, environmental research, and drug discovery and development. Among all these, mass spectrometry was utilized the most for drug discovery & development during 2012–2015, as it helps in determining the structure of metabolites and drugs. The fastest growth in demand is expected to be witnessed by the application of proteomics.

The usage of mass spectrometry in the life sciences and clinical analysis sectors is increasing considerably. Some of the key applications of this technology in these sectors include the determination of protein structure, monitoring of enzyme reactions, protein digestion, interactions and folding, identification of the protein from the peptide mass, forensic analysis, absolute or relative quantification of proteins in a given sample, and disease biomarkers detection. These applications are of vital significance in the fields of clinical analysis and life sciences, and the requirement for mass spectrometry for them is growing because of the increasing cases of drug abuse, rising healthcare awareness, advanced research and development, and high number of metabolic diseases.

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Mass Spectrometry Market Competitive Landscape

Danaher Corporation, Shimadzu Corporation, Thermo Fisher Scientific Inc., Bruker Corporation, Agilent Technologies Inc., Waters Corporation, PerkinElmer Inc., LECO Corporation, Dani Instruments S.p.A, Protea Biosciences Group Inc., Microsaic Systems PLC, Endress+Hauser Inc., Jeol USA Inc., and Elico Ltd. are some major players operating in the global mass spectrometry market.

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How Connected Car is Revolutionizing the Automotive Industry

Since the advent of internet of things (IoT), the connected car market has witnessed tremendous growth around the world. Valued at $51,910.9 million in 2017, it is projected to reach $156,145.9 million by 2023. Automobile manufacturers, software vendors, telecom operators, consumer electronics companies — the types of firms interested in and utilizing this product are diverse. Since many technologies in the automotive industry are based on IoT, it has become the predominant factor in the growth of the domain.

A connected car is one that can assess and optimize its own operations with the help of artificial intelligence (AI). Internet-based processes like navigation, telematics, and infotainment permit the car to share content with people and devices within it and outside. By keeping passengers connected on the road, it offers convenience, comfort, performance, safety, and security. A rise in demand for connectivity solutions, increase in dependency on technology, and surge in tech-savvy population are driving the growth of the connected car market.

Currently, North America leads the connected car market in terms of revenue generation. The Asia-Pacific (APAC) region is expected to witness the highest CAGR during 2018–2023. Among all the connectivity technologies available in the market, viz. 4G/LTE, 3G and 2G, 4G/LTE was utilized the most during 2013–2017, and it is expected to hold the largest revenue share during the forecast period (2018–2023) as well.

IoT services have become an integral part of connected cars that work on AI. AI will further take the connected car sector forward as automobile manufacturers will integrate it even more in vehicle infotainment systems that serve as virtual personal assistants with the ability to reply to voice commands and proactively guide the driver with the help of navigation.

The major restraint in the connected car market growth is the lack of infrastructure, which primarily comprises high-speed internet network required to support navigation and infotainment. Only a few developed countries of the world have the infrastructure to sustain this market. However, as digital advancement across the world increases, so will the development and availability of such technology, leading to a bright prospect for the domain.

A vast growth potential for connected car industry players lies in developing economies, such as India, Indonesia, China. As the living standard in these countries continues to increase due to the rise in disposable income, people’s spending on products such as connected cars, which utilize state-of-the-art technology, is growing.

Considering the integration of AI-based IoT in cars and increase in the availability of 4G/LTE technology, the sector is expected to witness a bright future ahead..Read More

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Need for Automotive Safety Technology to Drive The Automotive Radar Market

Strict government regulations regarding vehicle safety owing to the increasing incidence of accidents, and rising premium car sales are driving the global automotive radar market. A revenue of $3,023.0 million was generated by the market in 2017, and it is expected to advance at a CAGR of 21.0% during the forecast period (2017–2023). Headway sensors that are used to detect the presence of objects and other vehicles in proximity are termed as automotive radars.

The automotive radar market is being positively impacted by the rising vehicle production and sales. The increasing vehicle production is influenced by advancements in technology and growing consumer demand. As per Organisation Internationale des Constructeurs d'Automobiles figures, vehicle production grew by 4.5% in 2016 compared to 2015 and reached around 95 million units. With the implementation of safety regulations, the advanced driver assistance system (ADAS) is being increasingly integrated in vehicles. Automotive radars are an essential part of these systems, therefore the surging ADAS adoption is supporting the growth of the market.

Another contributing factor in the automotive radar market is the increasing focus on vehicle safety systems. The World Health Organization reported that 20 to 50 million people are injured and about 1.24 million lose their lives in road accidents each year. By 2030, road accidents could be the seventh-leading cause of death worldwide if this situation persists. This is leading to the inclusion of active safety features in vehicles that utilize automotive radars, thereby minimizing the chances of human error and helping avoid collisions and accidents.

In 2017, Europe was the largest revenue generator with a contribution of more than 35.0% in the automotive radar market. In the same year, it held about 26.0% share of the total cars produced, globally. The European Commission guidelines for vehicle safety standards are followed religiously in the region. Besides improving passenger and driver safety, these guidelines also focus on improving pedestrian safety. The European automotive market is expected to be driven by the presence of key luxury car makers, such as Audi AG, BMW AG, and Daimler AG.

However, due to the rising disposable income in growing economies, such as China and India, Asia-Pacific (APAC) is predicted to be the fastest growing market in the forecast period. Furthermore, the APAC automotive radar market is expected to perform well, owing to the increasing investments in the automotive safety technology. It is being expected that by 2023, APAC will outgrow Europe and North America to become the largest market in the world.

Therefore, the market is projected to advance due to the rapid expansion of the automotive industry in APAC.

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How is Rising Demand for Implantable Devices Driving Biomaterial Market?

The implantable devices niche is expanding rapidly due to the growing geriatric population, continuous innovation and development of products, increasing number of hip and knee replacements, and surging prevalence of diseases. Implantable devices are used for replacing a part of body, such as an organ, when it fails to perform its functions. These devices then are placed inside the body through medical intervention. Various applications of implantable devices include neurological conditions, plastic surgery, cardiovascular, obstetrics, dentistry, and ophthalmology. The demand for devices, such as artificial pacemaker, implantable cardioverter defibrillator, stents, and artificial heart valve, is increasing rapidly due to high incidence of heart failures or cardiovascular diseases. Similarly, the rising incidence of knee and hip injuries are resulting in the increasing requirement for their replacement. Since implantable devices are made up of biomaterials, their demand is increasing with the rising need for biocompatible devices.

Any synthetic or natural material used as a part of body to treat, replace, or augment tissue, or organ is referred to as biomaterial. Biomaterials are highly corrosion resistant, biocompatible, biofunctional, and have adequate strength. As per a study conducted by the P&S Intelligence, the global biomaterials market is expected to generate a revenue of $175.9 billion, witnessing a CAGR of 16.1%, in the coming years. Different materials used for making biomaterials include polymer, ceramic, and metallic. Out of these, the highest demand during 2012–2015 was created for metallic biomaterials. In the near future, the fastest growth in demand is predicted to be witnessed by polymer biomaterials.

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The expanding healthcare domain in developing countries is expected to provide wide scope to biomaterial manufacturers. The healthcare domain in emerging economies is still a fraction of that in developed countries, however, it has experienced considerable growth in the past few years and is further projected to grow significantly in the coming years, especially in the Latin America and Asia-Pacific regions. Since the market in these regions is fragmented, along with the improving healthcare infrastructure and presence of large population base, investors are attracted toward them more rather than the developed countries. Moreover, the overall cost of manufacturing of medical devices in emerging economies tend to be low leading to reduced cost of the product without compromising the quality. Also, as the income level of people in these countries is increasing, they are now in a position to afford high-quality implants, hence resulting in rising demand for biomaterial.

Global Biomaterial Market Segmentation
By Material

·         Metallic Biomaterial

·         Polymer Biomaterial

·         Ceramic Biomaterial

·         Others Biomaterial

By Application

·         Cardiovascular

·         Orthopedic

·         Dental

·         Wound Healing

·         Plastic Surgery

·         Ophthalmology

·         Neurological Condition

·         Others

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Agricultural Adjuvants Market: Competitive Landscape & Impact Analysis Of Drivers On Market Forecast by 2024

Environment-friendly products are gaining popularity in the agricultural adjuvants sector over chemically synthesized variants. Earlier, adjuvants, chemically synthesized from derivates of sulfinates, alkoxylates, and amines which possess harmful substances, were used across the world. But, in recent years, advancements in adjuvant technologies have focused on the synthesis of biodegradable, non-toxic, and eco-friendly products. As a result, companies are increasingly manufacturing bio-based adjuvants to diversify their portfolios. 

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Agricultural adjuvants can be added to a variety of pesticides, including insecticides, herbicides, and fungicides. During the historical period, herbicides held the largest share in terms of volume in the agricultural adjuvants market. They are widely use in broadleaf crops and winter cereals. Furthermore, herbicides are highly compatible with different adjuvants such as vegetable oil and petroleum concentrate-based products, and non-iconic surfactants. In addition, the usage of adjuvants with herbicides offers high economic benefits and incentives to agricultural installations and farmlands. 

According to the Population Division of the United Nations Department of Economic and Social Affairs, in 2017, the global population was 7.6 billion, and it is anticipated to reach approximately 9.8 billion by 2050. The extra population of 2.2 billion is predicted to create an additional demand for cash, horticulture, and food crops during the forecast period. As a result of the surging population and expanding cities, the cultivable area is shrinking fast to accommodate metropolitan towns and cities. According to the Food and Agricultural Organization (FAO), in 2015, the cultivable land decrease to 48.6 million square km from 49.4 million square km between 2000 and 2015. 

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Further, surging population and limited cultivable land are anticipated to create pressure on agricultural installations and farmlands to increase the crop productivity and yield, thereby raising the usage of adjuvants and pesticides during the forecast period. The growing population is predicted to produce an additional need for horticulture, cash, and food crops. Thus, the increasing population will considerably raise the consumption of food, resulting in the heavy use of adjuvants in the agriculture sector.

Talking about the crop type, oilseeds and pulses, cereals and grains, and fruits and vegetables would be some of the categories of the market. Out of these, in 2017, the cereals and grains category dominated the market with nearly 45.0% share in terms of volume. Increasing global population and shrinking cultivable land are anticipated to create pressure on the farming community to maximize crop productivity, which in turn is expected to boost the usage of pesticides and adjuvants in the forecast period.

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How is Prevalence of Various Diseases Driving Medical Gases and Equipment Market?

The prevalence of chronic, lifestyle-associated, and respiratory diseases is on the rise across the world. For example, as per the Centers for Disease Control and Prevention (CDC), about 117 million people in the U.S. were suffering from at least one chronic disease in 2012. Similarly, according to the World Health Organization, nearly 250,000 people die of asthma every year around the world. In order to treat these diseases, several medical gases and devices are required. Hence, as the prevalence of various diseases increases, the demand for all types of medical devices will also grow. Medical gases and equipment are important elements in medical centers, life sciences sector, laboratories, and long-term care; they are used for treatment as well as diagnosis of several diseases.

According to a study conducted by the P&S Intelligence, the global medical gases and equipment market is expected to attain a value of $21.6 billion, advancing at a CAGR of 8.0%, in the coming years. The primary applications of medical gases and equipment include diagnostics, pharmaceutical manufacturing & research, and therapeutics. During 2012–2015, the largest demand for medical gases and equipment was created by therapeutic applications. Medical gases are used for various therapeutic purposes including treatment of cardiovascular and respiratory diseases, acute hypoxia, pain, resuscitation, and pulmonary arterial hypertension, cryosurgery, in neurobiology, and for anesthetization. The demand for medical gases and equipment will remain the highest for therapeutic applications in the near future due to the surging prevalence of chronic and respiratory diseases.

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There are two types of medical gases, namely medical gas mixture and pure medical gas. During 2012–2015, the requirement for pure medial gas was higher. This gas comprises nitrogen, oxygen, carbon dioxide, helium, nitrous oxide, medical air, argon, xenon, and carbon monoxide. Types of medical gas equipment include oxygen concentrator, medical gas equipment accessories, and gas delivery system. Out of these, medical gas equipment accessories are expected to be demanded the most in the coming years. Medical gas equipment accessories are further divided into flow meters, regulators, vacuum systems, hoses, masks, outlets, manifolds, alarm systems, and others (which include pressure switches, fittings, ball valves, check valves, and conversion kits).

Global Medical Gases and Equipment Market Segmentation

By Type

·         Medical Gas

o    Pure medical gas

§  Oxygen medical gas

§  Nitrous oxide medical gas

§  Medical air medical gas

§  Nitrogen medical gas

§  Carbon dioxide medial gas

§  Helium medical gas

o    Medical gas mixture

§  Blood gas mixture

§  Lung diffusion mixture

§  Nitrous oxide-oxygen mixture

§  Carbon dioxide-oxygen mixture

§  Laser gas mixture

§  Aerobic mixture

§  Anaerobic mixture

§  Helium oxygen mixture

§  Ethylene oxide mixture

·         Medical Gas Equipment

o    Medical gas equipment accessories

§  Vacuum system

§  Manifolds

§  Alarm system

§  Flow meters

§  Hose

§  Mask

§  Regulators

§  Outlets

o    Medical oxygen concentrator

o    Medical gas delivery system

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By Application

·         Therapeutic

·         Diagnostic

·         Pharmaceutical manufacturing & research

·         Others

By End User

·         Hospital

·         Home Healthcare

·         Emergency Service

·         Pharmaceutical Industry

·         Academic & Research Institute

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