Upper Limb Prosthetics Market Rise At 4.4% During 2018-2028 : FMI

Upper limb prosthetic sales in 2019 are estimated to close in on US$ 330 Mn, and record a Y-o-Y growth of 4.4% over 2018, according to a new study of Future Market Insights (FMI). Upper limb prosthetics have been witnessing progressing sales scenario at a modest pace over the recent past. Besides a rising trend of cosmetic prosthetics, prevalence of sports injuries is significantly contributing to the demand growth of upper limb prosthetics in the global market.

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Use of additive manufacturing/3D printing for prosthetics has been gaining momentum within the marketplace, particularly among amputees who are unable to afford the high price point associated with conventional limb prosthetics. Adoption of upper limb prosthetics has been pervasive at hospitals, at a steadily increasing rate. FMI expects a higher rate of adoption across prosthetic clinics in the years to come. However, an expensive price point, coupled with mass production incompatibility, is most likely to limit rapid revenue growth of upper limb prosthetics market.

Several prominent players in the competitive landscape of upper limb prosthetics market are prioritizing new product launches eyeing the opportunities lying in competitive price ranges. While this strategy is likely to aid companies improve penetration into developing markets, others will also focus on development of convenient accessories to assist the usage of upper limb prosthetics – such as hand gloves.

As per FMI’s analysis, a considerable number of companies competing in upper limb prosthetics market are concentrating on providing rehabilitative prosthetic services and amputee care. Consistently increasing demand for prostheses following accidental and aging related disabilities will primarily push sales of upper limb prosthetics. Rapid surge in the number of orthopedic disorders and post-traumatic disabilities will also remain a key factor determining demand for upper limb prosthetics in the near future, according to the report.

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Prosthetic Wrist to Hold over One-Fourth Market Share

Transradial disarticulation (below elbow) will remain the key indication generating maximum demand for upper limb prosthetics. The report points to a higher revenue share of over 1/4th of the total value, collectively contributed by wrist disarticulation and transhumeral disarticulation (above elbow). Sale of partial hand has also been registering a moderately growing share in the market revenue.

Prosthetic wrist sales account for over a fourth of the total market value whereas, prosthetic arm is likely to develop highest-selling potential in the years to come. Prosthetic elbow and terminal devices are currently among highly sought after components of upper limb prosthetics after prosthetic wrist, according to FMI’s study. The combined revenue share of these two in the market has been anticipated to be more than 45% in 2019. However, prosthetic shoulders will also continue to experience moderate demand over the course of next few years.

Almost 2/5th of the total demand for upper limb prosthetics is accounted by myoelectric prosthetic devices, followed by body powered counterparts. As per FMI’s analysis, passive prosthetic devices can be positioned as a relatively lucrative type of upper limb prosthetics.

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North America & Europe Hold over 55% Share in Market Value

While more than 55% share of the global market revenue is contributed by developed regional markets, the penetration of upper limb prosthetics within most of the developing regions remains in its latency. According to FMI’s study, the market in China, India, and some of the fast-developing economies in East and South Asia economies hints at promising growth prospects post 2019. The report attributes this growth to the sophistication of healthcare infrastructure, improvements in reimbursement scenario, rapid expansion of the patient pool, and the flourishing medical tourism sector.

Increasing per capita healthcare spending, spike in the private and public investments in R&D, and the influx of activities involving shifting of manufacturing bases to developing regional pockets have also been instrumental in establishing a positive growth outlook for upper limb prosthetics market in these regions.

FMI forecasts a 4.8% CAGR for the upper limb prosthetics market revenue over 2018-2028. The report has tracked some of the most prominent players active in the global upper limb prosthetics market, including Fillauer LLC, Touch Bionics Inc., Endolite India Ltd., College Park Industries, and Ottobock SE & Co. KGaA, among others.

Biogas Market Key Opportunity, Analysis, Growth, Trends 2031

As per a Future Market Insights (FMI), the global biogas market is projected to grow at a steady 6.80% CAGR over the forecast period from 2021 to 2031. The overall market size is expected to top US$ 61.2 Bn by 2031, with the U.S., Germany, India, and China emerging as key producers and exporters of biogas.

Shifting focus on renewable sources of energy to reduce fossil fuel dependency is a chief factor driving sales of biogas across various countries. In addition to this, governments in several countries are promoting the adoption of biogas as vehicular fuel, which is expected to augment growth of the market through 2031.

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Sales prospects of biogas were dampened due to COVID-19 outbreak. However, with resumption in trade activities, recovery of the biogas market is on cards. FMI has projected demand for biogas to grow year-over-year by 7.10% globally between 2020 and 2021.

The introduction of circular economy and increasing utilization of anaerobic digestion plants for biogas production are expected to emerge as lucrative trends in the biogas market. A circular economy promotes the reintroduction of wastes in the supply chain, improves waste management, and provides essential lipids for biogas production.

Apart from this, increasing adoption of biogas as vehicular fuel is also expected to fuel growth of the market. Countries such as Germany, Sweden, the U.K., and the U.S. are actively investing in biogas as an alternative to biofuels. This, in turn, is expected to push sales of biogas over the assessment period.

“Growing demand for biogas for household cooking applications, along with government-backed subsidies encouraging the usage of biogas in emerging economies are expected to bode well for the global biogas market through 2031,” says an FMI analyst.

Key Takeaways:

  • Based on source, the municipal segment is expected to expand at a steady pace over the forecast period, due to increasing utilization of municipal solid waste (MSW) for biogas production.
  • In terms of applications, sales of biogas in the electricity segment are projected to continue rising in response to growing demand for renewable sources of energy.
  • The U.S. will emerge as a lucrative biogas market, with sales growing at a 6.10% CAGR in the North America region.
  • Germany will continue exhibiting high demand for biogas due to stringent regulations regarding carbon neutrality. The Europe biogas market is poised to grow at a 5.90% CAGR through 2031.
  • China is expected to remain one of the key producers and exporters of biogas, accounting for a dominant share of the global biogas market.
  • Japan and South Korea will collectively account for 7.40% of the total biogas market share in 2021.

Competitive Landscape

Air Liquide, Wartsila, EnviTech Biogas AG, Asia Biogas, SCANDINAVIAN BIOGAS FUELS INTERNATIONAL AB, Schmack Biogas GmbH, Swedish Biogas International AB, PlanET Biogas Global GmbH, S. P. Renewable Energy Source Pvt. Ltd, Agrinz Technologies GmbH, and Greenlane Biogas are among the leading players operating in the global biogas market.

As per FMI’s analysis, top 5 players comprising Total SA, Air Liquide, Wartsila, Planet Biogas Global GmbH, and EnviTec Biogas AG are projected to hold around 27.10% of the total biogas market share in 2021.

Leading players operating in the biogas market are focusing on production facility expansions through mergers, acquisitions, and collaborations. This is expected to assist manufacturers in gaining a competitive edge in the market. For instance:

  • In October 2021, EnviTech Biogas AG announced a strategic collaboration with BALANCE Erneuerbane Energien GmBH to build a bio-LNG (liquified natural gas) liquefication plant in Germany.
  • In December 2020, Scandinavian Biogas Fuels International AB, a key producer of biogas in the Nordics, announced that it has finalized the acquisition of Ekdalens Biostransport AB. The acquisition is a part of Scandinavian Biogas’s plans to achieve greater integration across the entire value chain, from organic waste to biogas and bio-fertilizers.

 

More Insights into the Biogas Market Report

In its latest report, FMI offers an unbiased analysis of the global biogas market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of source (agriculture, municipal, industrial, and others), and applications (electricity, heat, vehicle fuel, and others) across seven regions (North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan (APEJ), Japan, and Middle East & Africa).

Gastric Electric Stimulators Market Size Worth US$ 188.4 Mn by 2026 – Future Market Insights

The worldwide uptake of gastric electric stimulators is anticipated to witness hefty demand in 2019, representing a rigorous 6.6% y-o-y growth, while reaching a valuation of approx. US$ 188.4 Mn in 2026. As per Future Market Insights (FMI) report on gastric electric stimulators market for the forecast period 2018–2026, gastric electric stimulators’ demand is anticipated to be accelerated by a host of pacesetters.

The FMI report on gastric electric stimulators market opines that sales of gastric electric stimulators are likely to witness sheer proliferation in coming time, on the back of burgeoning minimally invasive procedures, surging reported cases of gastroparesis, and encouraging reimbursement schemes. Growing pervasiveness of gastroparesis has been identified as the primary demand generating factor making gastric electric stimulators highly preferred treatment substitute for such arduous diseases.

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“Enterra system, a critical medical device which is highly used to treat Gastroparesis has received FDA approval as a humanitarian use device, on the back of its potential to treat or diagnose a disease or condition affecting approx. 4000 individuals annually in the United States. Though conditionally, the American College of Gastroenterology (ACG) also recommends adoption of gastric electric stimulators for individuals with chronic, stubborn nausea and vomiting caused by Gastroparesis. The gastric electric stimulators, like Enterra, is a battery-based gastric neurostimulator, which is usually rooted under the skin in lower abdomen part of the body”, Senior Analyst, FMI.

As per the FMI report on gastric electric stimulators market, considering the rareness of Gastroparesis in tandem with the widespread occurrence of gastric-related issues, investments in R&D and clinical studies have considerably increased in the recent past. Moreover, the growing adoption of gastric electric stimulators as an effective substitute to gastrectomy in patients with end-stage gastric dysfunction, is projected to accelerate the demand for gastric electric stimulators considerably by the end of 2026.

High-Frequency Product Type Gaining Colossal Traction

According to the FMI report, high-frequency variant of gastric electric stimulators are witnessing mammoth traction as being one of the most compelling product type, in comparison to the low-frequency variant of gastric electric stimulators. The FMI gastric electric stimulators market report opines that high-frequency variant of gastric electric stimulators aren’t just minimally invasive and extremely patient-friendly in terms of insertion, but also encompass comparatively longer battery life than the low-frequency variant of gastric electric stimulators. Additionally, as per FMI analysis, with over 75% gastric stimulators market share, high-frequency variant of gastric electric stimulators is likely to ameliorate the Gastroparetic treatment landscape.

Preview Analysis Global Gastric Electric Stimulators Market Segmentation By Product Type (High Frequency GES Devices, Low Frequency GES Devices); By Indication (Gastroparesis, Obesity, Refractory Nausea, Others); By End User (Hospitals, Outpatients Centers): https://www.futuremarketinsights.com/reports/gastric-electric-stimulators-market

Though, gastric electrical stimulation makes the most viable treatment option for chronic drug-refractory nausea and vomiting peripheral to Gastroparesis of idiopathic or diabetic etiology, Enterra Therapy associated risks remain exceptionally high, thereby hampering the adoption of gastric electric stimulators.

North America Gastric Electric Stimulators Market Remains Lucrative

FMI gastric electric stimulators report opines that North America is likely to retain its dominance in the gastric electric stimulators market between 2018 and 2026. According to the FMI report on gastric electric stimulators market, growing investments in medical studies and R&D activities, continuing technical advancements and innovations, coupled with the presence of several leading market players, are other key factors paving way for lucrative opportunities in across North America gastric electric stimulators market.

According to gastric electric stimulators market report, the worldwide gastric electric stimulators market will continue to remain highly consolidated with market Mughals contributing approx. 5o% revenue share to global gastric electric stimulators market, owing to their superior product offering and extensive demographic presence. Further, to capitalize on the growing demand for gastric electric stimulators, leading market players are poised to indulge into collaborations and acquisitions of local players, to reinforce their market presence.

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Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.

Global Chemical Testing Services Market Revenue Expected to Expand at a CAGR of 5.0% Between 2017 and 2025

A chemical testing services market is a crucial processing step for regulatory compliance and certifiers to apprehend the composition and quality of chemical materials and substances that are used in industrial processes, products, and manufacturing any end product. Moreover, a chemical testing services market requires proficiency in applying the most pertinent methodology and expert industrial knowledge.

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Further, various kinds of chemical analysis in chemical testing services is provided to ensure that the products are aligned with various regulations such as REACH, RoHS, and other chemical notifications. Further, for a few verticals such as agrichemical, pesticides, or pharmaceuticals, there are different chemical testing services laboratories, including the Good Laboratory Practice (GLP) and Good Manufacturing Practice (GMP).

The chemical testing services market is growing at a faster pace, as quality audits and demand recalls are receiving more publicity now than in the past, making the response to them more sensitive and urgent. With chemical testing services market providers requiring to conform to a variety of government-mandated requirements and regulatory compliances, they need to maintain strict detailed product information and quality management. In addition, special materials, production techniques, and packaging requirements force manufactures to keep stringent control over their manufacturing processes in chemical testing services market. These regulations through government and regulatory bodies are boosting the growth of the chemical testing services market.

On the basis of region, Europe is estimated to be the center market in the chemical testing services market, expected to account for 36.0% value share of the global chemical testing services market in 2017. The region continues to dominate the chemical testing services market, and is expected to continue to do so throughout the forecast period. On the basis of testing service type, the chemicals regulatory compliance chemical testing services, and the contamination detection and analysis segments are projected to exhibit CAGRs of 6.2% and 5.4%, respectively, in terms of chemical testing services market value during the forecast period. This is attributed to the increasing demand for chemical testing services certifications from top regulatory bodies such as REACH, RoHS, and others.

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The chemical testing services market in North America, APAC, MEA, and Latin America are anticipated to contribute majorly to the global chemical testing services market. The market in APAC is expected to account for 28.5% share in terms of value in the global chemical testing services market, and be valued at US$ 9,704 Mn by 2025 end. The increasing demand for chemical testing services certifications and analysis from the consumer goods and manufacturing industry of Europe and APAC, especially China and Japan, is expected to fuel revenue growth of the market in the region. The chemical testing services market in North America is estimated to be valued at US$ 5,282 Mn by 2017 end, and projected to expand at a CAGR of 39.6% during the forecast period.

Factors such increasing demand for chemical safety and quality control, growing demand for the outsourcing of chemical testing services, increase in manufacturers and TIC providers, and partnerships to strengthen the food security approach to encourage certifications, governments are subsidizing the cost of certification, which is expected to drive revenue growth of the global chemical testing services market.

The global chemical testing services market is segmented on the basis of service type, sample type, end use, and region. By sample type, the chemical testing services market is segmented into agrochemicals & pesticides, basic & industrial chemicals, dyes & detergents, lubricants & greases, nanomaterials, petrochemicals, polymers & plastics, and specialty chemicals. Moreover, by end use, the chemical testing services market is categorized into consumer goods, environmental, and manufacturing. Key regions covered in the report are North America, Latin America, Europe, APAC, and Middle East & Africa.

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The chemical testing services market report analyses the global chemical testing services market in terms of value (US$ Mn) by testing service type, sample type, end use, and region; and provides insightful information regarding the segment analysis, market trends, competitive landscape, market dynamics, market estimations, and forecast.

Chemical Testing Market: Companies

Key chemical testing services market participants covered in this report include Intertek Group Plc, Bureau Veritas, SGS SA, TÜV NORD AG, UL LLC, SAI Global Limited, SCS Global Services, TÜV Rheinland Group, MISTRAS Group, Dekra SE, BSI Group, Eurofins Scientific, and others.

External Fixators Market Is Estimated To Expand At A High CAGR Of 8.5% During The Report Period (2018–2028) With Valuation Surpassing The US$ 3 Billion: FMI

The external fixators market is projected to continue its steady growth on account of the widespread prevalence of osteoporosis coupled with rising incidences of accidental fractures. The external fixators market is estimated to expand at a high CAGR of 8.5% during the report period (2018–2028), with market valuation surpassing the US$ 3 billion mark by 2028 end.  According to the FMI external fixators market report, technologically and innovative advancements are anticipated to further firm-up the adoption of external fixators.

In recent years, orthopedic treatments have witnessed a paradigm shift from the conventional highly-invasive to minimally-invasive procedures as the latter promises early return-to-motion with negligible infection risks. The computer-aided external fixators have been built upon the strengths of conventional external fixators by boosting the device convenience and versatility in complex cases. The FMI report on external fixators market opines that computer-aided external fixators could witness increased adoption, expanding considerably in the forthcoming years.

“Alternative orthopedic disorders’ treatment options, including bone glue designed for joint replacement, could hinder global external fixators market growth considerably. Several external fixators’ manufacturers are prioritizing novel technologically-advanced product development, but stringent rules and regulations in tandem with the lengthy approval procedures are making market-penetration challenging for new devices. This is prompting patients to opt for external fixators’ alternative. Additionally, widespread prevalence of surgical-site infections in the case of orthopedic trauma operations over surgical specialties, is another vital factor ebbing progress of external fixators market,” says a lead analyst at Future Market Insights.

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Amid the numerous challenges in external fixators market, manufacturers are increasingly focusing on novel product launches, mergers, expansion, acquisitions, and deals, while also implementing forward growth strategies to proliferate the sales of their offerings in broader geographies. As per FMI external fixators market report, manufacturers are also prioritizing New Product Development (NPD) strategies to reinforce their footprint in Asia Pacific region, which is the hotbed of opportunities in external fixators market. External fixators’ manufacturers are leveraging 3D printing to build patient-focused devices with complex internal structures. Owing to 3D printings’ myriad benefits in the orthopedic industry, such an inclusion is expected to fuel sales of external fixators.

As per the FMI report on external fixators market, moguls in the external fixators market, including the leading four players Stryker Corporation, Smith & Nephew, DePuy Synthesis, and Zimmer, accumulatively hold nearly half the external fixators market share. The external fixators market represents a highly consolidated landscape, with most of the growth opportunities emerging in North America. However, the report comprehends that a fortified global external fixators market will result in high-priced devices.

Geographically, North America is projected to hold roughly 35% share of external fixators market, however, New Zealand and Australia are anticipated to present most lucrative growth opportunities in Asia Pacific market, followed by Latin America and Middle-East and Africa. The external fixators’ manufacturers are targeting emerging markets owing to increased procedural awareness, in tandem with sophisticated diagnostics capabilities in these regions, propelled by proliferating demand for affordable and quality healthcare.

Key players operating in external fixators market include:

  • Ortho-SUV Ltd.
  • ConMed
  • Zimmer Biomet Holdings Inc.
  • OsteoMed
  • DePuy Synthes (Johnson & Johnson Services Inc.)
  • Stryker Corporation
  • Medtronic Kanghui Orthopedics
  • Vilex
  • DJO Global Inc.
  • Response Ortho LLC
  • Wright Medical Group N.V.
  • Bioventus
  • Orthofix International N.V.
  • Acumed
  • Integra LifeSciences Corporation
  • Smith & Nephew plc.

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Key Segments

By Product Type

  • Manual Fixators
  • Computer Aided External Fixator

By Application

  • Orthopedic Deformities
  • Fracture Fixation
  • Infected Fracture or Non-Unions
  • Limb Correction
  • Others

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By End User

  • Hospitals
  • Ambulatory Surgical Centers
  • Orthopedic and Trauma Centers

By Country

  • U.S.
  • Canada

Automotive Timing Chain and Belt Market to be valued at US$ 10.20 Bn by 2027 – Comprehensive Research Report by FMI

The global automotive timing chain and belt market was pegged at 114,517 ‘000 units in 2022 and is expected to reach 166,277 ‘000 units by the end of 2027. The market is projected to increase at a volume CAGR of 3.8%.

According to a new report by Future Market Insights titled “Automotive Timing Chain & Belt Market: Global Industry Analysis (2012–2016) and Opportunity Assessment (2022–2027),” global sales of automotive timing chains and belts was valued at US$ 6,754.7 Mn in 2022 and is projected to increase at a CAGR of 4.2% over the forecast period to be valued at US$ 10,209.9 Mn by 2027. This growth is primarily driven by an increase in vehicle production across key geographies.

Automotive Timing Chain and Belt Market Base Year Value (2021A) US$ 7.8 Bn
Automotive Timing Chain and Belt Market Estimated Year Value (2022E) US$ 8.2 Bn
Automotive Timing Chain and Belt Market Projected Year Value (2027F) US$ 10.20 Bn
Value CAGR (2022-2027) 4.5%
Collective Value Share: Top 3 Countries (2022E) 48.7%

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Global Automotive Timing Chain & Belt Market: Dynamics

  • Urban logistic control increases the demand for automotive belts and chains
  • Growing lifespan of used automobiles to boost the automotive aftermarket sales of automotive timing systems
  • Shift of component manufacturers’ focus towards existing opportunities in Eastern Europe is driving expansion of the local production base
  • Research, development and innovation of automotive time/chain components is a key growth driver

Global Automotive Timing Chain & Belt Market: Forecast by Product Type

On the basis of product type, the global automotive timing chain and belt market is segmented into chain, roller chain, non-roller chain, belt, dry belt, and belt in oil. Belt, followed by the chain segment, remains lucrative and will dominate market demand over the forecast period, primarily due to the fact that these products offer longer life and efficient operations in real-time working conditions in all vehicle types.

Global Automotive Timing Chain & Belt Market: Forecast by Vehicle Type

On the basis of vehicle type, the global automotive timing chain and belt market is segmented into passenger car, LCV, HCV, and off highway vehicle. The passenger car segment is anticipated to emerge as an opportunistic segment due to the growing consumer preference for advanced and more efficient timing chains and belts.

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Global Automotive Timing Chain & Belt Market: Forecast by Engine Type

On the basis of engine type, the global automotive timing chain and belt market is segmented into gasoline and diesel. By engine type, in terms of volume, gasoline engine is expected to remain the most attractive segment in the global automotive timing chain and belt market over the forecast period, growing at a volume CAGR of 3.7%.

Global Automotive Timing Chain & Belt Market: Forecast by Sales Channel

On the basis of sales channel, the global automotive timing chain and belt market is segmented into OEM and aftermarket. The OEM segment is anticipated to gain prominent market share during the forecast period as OEM sales are directly proportional to the production rate of vehicles globally. Moreover, the increasing production of vehicles in the emerging economies in Latin America and MEA is likely to propel the demand for automotive timing chains and belts.

Global Automotive Timing Chain & Belt Market: Forecast by Region

APEJ is a prominent regional market and is anticipated to dominate the global demand for automotive timing chains and belts, followed by Western Europe. Noteworthy increase in sales in markets such as China, India, Mexico and Turkey among others is expected during the forecast period.

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Global Automotive Timing Chain & Belt Market: Key Players

Some of the key players operating in the global market for automotive timing chains and belts include Tsubakimato Chain Co., BG Automotive, Continental AG, BorgWarner Inc., Denso Corporation, Schaeffler Technologies AG & Co. KG, Mitsuboshi Belting Ltd., L.G. Balakrishan & Bros Ltd, Daido Kogyo Co. Ltd., SKF AB, Iwis Group, Gates Corporation, Dayco Products LLC, Qingdao Choho Industrial Co. Ltd., Rockman Industries Ltd., Sumax Industry Limited, CIC USA Corp, KCM Automobile Transmission Co. Ltd., and Mahle GmbH.

About the Automotive Division of FMI

The automotive division of FMI offers a novel approach and innovative perspective in the analysis of the industrial automation market. Comprehensive coverage of capital, portable, process, construction, industrial, and special purpose machinery across the manufacturing sector and distinctive analysis about the installed base, consumables, replacement, USP-feature-application matrix make us a pioneering voice in the industry. We are preferred associates with established as well as budding industry stakeholders, and channel partners when it comes to sustaining, growing, and identifying new revenue prospects.

Scope of Report

Attribute Details
Forecast Period 2022-2027
Historical Data Available for 2012-2021
Market Analysis USD Million for Value and Units for Volume
Key Regions Covered North America, Latin America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan (APEJ), Japan, Middle East and Africa (MEA)
Key Countries Covered US, Canada, Brazil, Mexico, Germany, U.K., France, Spain Italy, BENELUX, Russia, Poland, China, India, ASEAN, Australia and New Zealand, Turkey, South Africa
Key Segments Covered Product Type, Sales Channel, Vehicle Type, Engine Type and Region
Key Companies Profiled
  • Tsubakimato Chain Co.
  • BG Automotive
  • Continental AG
  • BorgWarner Inc.
  • Denso Corporation
  • Schaeffler Technologies AG & Co. KG
  • Mitsuboshi Belting Ltd.
  • L.G. Balakrishan & Bros Ltd
  • Daido Kogyo Co. Ltd.
  • SKF AB
  • Iwis Group
  • Gates Corporation
  • Dayco Products LLC
  • Qingdao Choho Industrial Co. Ltd.
  • Rockman Industries Ltd.
  • Sumax Industry Limited
  • CIC USA Corp
  • KCM Automobile Transmission Co. Ltd
  • Mahle GmbH
Report Coverage Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing Available upon Request

Explore FMI’s Extensive ongoing Coverage on Automotive Domain

Marine Elevators Market: According to research, the market for marine elevators is expected to surge ahead between 3%-5% CAGR from 2021 to 2031.

Railway Roof Switches Market: As per the ongoing study, the railway roof switches market is anticipated to exhibit promising growth over 7% to 9% during 2021-31.

Road Speed Limiter Market: According to latest research, road speed limiter market is set to witness steady growth during 2021-2031.

Steering Column Locks Market: According to research, the market for steering column locks is expected to surge ahead between 6%-8% CAGR from 2021 to 2031.

Steering Stabilizers Market: According to study, the steering stabilizers market is projected to witness growth of 3%-5% CAGR during the assessment period of 2021 to 2031.

Odometer Market: According to latest study, odometer market is set to witness steady growth during 2021-2031.

On-Board Fuse Box Market: According to study, the on- board fuse box market is projected to witness growth of over 5% CAGR during the forecast period 2021- 2031.

Bus Flooring Market: According to the study, the bus flooring market is projected to exhibit a marginal growth rate between 3% and 4% during the assessment period of 2021 to 2031.

Boat Hook Market: According to recent study, the global boat hook market is predicted to develop at a CAGR of 3% to 5% between 2021 and 2031.

Aircraft Refueling Hose Market: According to latest research, the aircraft refueling hose market is projected to expand between 4.0% and 6.0% CAGR during the 2020-2026 assessment period.

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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Automotive Exhaust Systems Market is poised to expand at over a 4% CAGR through 2031

ESOMAR certified consulting firm Future Market Insights’ recent report on the automotive exhaust systems market forecasts a relatively stable outlook for FY 2021-22, compared to the previous year, as the global automotive industry emerges from the recessionary impact of the coronavirus pandemic crisis. As production cycles resume, a gradual recovery is anticipated in the short-run, eventually translating into a stable outlook through 2031.

According to the report, growth prospects were weighed down significantly, attributed largely to a mature and stagnation in growth curves across the global automotive industry. Projections reflected a value of just under US$ 25 billion in 2017. In addition, automotive sales witnessed a marked decline of over 5%, down to nearly 92 million units by 2019.

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In spite of such downswings, growth has been sustained by increasing drives towards attaining zero carbon emission goals. Initiatives such as the UK government’s Road to Zero project have pledged to achieve at least a 70% sales figures with respect to low emission cars. Likewise, the US EPA’s Cleaner Trucks Initiative seeks to revise NOx emission levels, with strides already visible in the form of a 40% reduction in emission levels since 2001. The market is poised to expand at over a 4% CAGR through 2031.

Key Takeaways from FMI’s Automotive Exhaust Systems Market Study

  • Mufflers to cement its dominance, expanding at over 4% CAGR through 2031, by product type
  • By vehicle type, passenger cars are expected to retain the crown through 2021 and beyond
  • Automotive exhaust systems for gasoline driven vehicles to experience a substantial incline
  • Aftermarket sales to account for the maximum share in the automotive exhaust systems market
  • Key initiatives, including the Cleaner Trucks Act, to largely elevate automotive exhaust sales across the US
  • UK market to expand amid increasing LCV registration frequencies through 2021
  • Intensive EV infrastructure development to elevate German automotive exhaust systems growth prospects
  • China to cement its presence across the Asia-Pacific, characterized by a robust local manufacturing base

“Key manufacturers of automotive exhaust systems are emphasizing on incorporating selective catalytic reduction (SCR) technology based emission curbing approaches, prompting numerous innovations and product launches, expected to widen revenue pools across the forecast period,” says an FMI analyst.  

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Competitive Landscape

Prominent automotive exhaust systems manufacturers are leveraging the most contemporary developments prevailing across the global automotive industry, including the quest to achieve carbon neutrality, spurring various technological advancements in compliance with key regulatory provisions.

To achieve this goal, prominent automotive aftermarket player Bosal International N.V. announced the launch of a new manufacturing unit and R&D center in Shanghai, China, in February 2021. This venture will support a supply contract for its original equipment customer Geely, to develop an eco-friendly exhaust system for the Volvo XC40 passenger car.

Also, Faurecia S.A. announced in February 2021 that it has acquired a significant stake in CLD, one of China’s largest high-pressure tank manufacturers to develop homologated type III and IV hydrogen storage tanks for the Chinese automotive market. This development is significant as China is expected to represent at least one million fuel cell vehicles by 2030.

Key Segments Covered

By Product Type

  • Exhaust Manifold
  • Muffler
  • Catalytic Converter
  • Oxygen Sensor
  • Exhaust Pipes

By Vehicle Type

  • Passenger Car
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle

By Engine Type

  • Gasoline
  • Diesel

By Sales Channel

  • Original Equipment Manufacturer (OEM)
  • Aftermarket

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Top Reports Related To Automotive Market Insights

Car Security System Market: The car security system market is expected to reach a valuation of US$ 7.60 Billion by 2021, according to the latest insights by Future Market Insights (FMI). The overall sales is expected to grow at a CAGR of 5.8% between 2021 and 2031.

Electric Scooters Market : Growing environmental concerns, coupled with demand for reduced costs of commute, easy commutation, and emission control are primary factors encouraging the adoption of electronic vehicles across the world. These factors also will enable the electric scooters sales to total US$ 8.8 Bn in 2021.

About FMI

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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Elemental Sulphur Is Expected To Grow By 3% CAGR Between 2021-2031

As per Future Market Insights (FMI), the global elemental sulphur market will total US$ 6.27 Bn in 2021. The demand for elemental sulphur is expected to grow by 3% CAGR between 2021 and 2031. The report projects the total volume sold in the market to total 106 Mn Tons by 2031.

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Demand for elemental sulphur slumped to an extent due to the onset of the COVID-19. Suspension of production activities and disruptions in supply chains further dampened sales prospects. However, FMI has projected steady recovery of the market, with sales forecast to grow year-over-year by 3.30% between 2020 and 2021.

Growing demand for elemental sulphur in the agrochemicals industry is expected to bode well for the market. Sulphur is an essential nutritive element that improves plant growth and overall crop yield. A majority of crop plants go through sulphur deficiency. Sulphur is utilized in phosphate-based fertilizers to maintain a consistent supply of nutrients in crops. This will act as a chief growth driver for the elemental sulphur market.

Besides this, increasing adoption of sulphur for rubber vulcanization in the automotive and electronic sectors is expected to spur demand for elemental sulphur. Vulcanized rubber is used in the production of tires, cables, hoses, and other rubber components in consumer goods.

Ongoing expansions of the automotive and consumer goods sectors is expected to propel the demand for vulcanized rubber, which in turn will augment growth of the elemental sulphur market.

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“Favorable government policies and subsidies to support the expansion of the mining industry in various countries are expected to create conducive environment for elemental sulphur market growth. In addition to this, growing adoption of sulphuric acid for wastewater treatment will continue driving sales of elemental sulphur over the forecast period,” says an FMI analyst. 

Key Takeaways:

  • Based on source, the gas-based segment is expected to hold a dominant share in the global elemental sulphur market.
  • In terms of applications, sales of elemental sulphur in the agrochemicals segment are anticipated to gain traction over the forecast period.
  • The U.S. is expected to dominate the North America elemental sulphur market. Sales of elemental sulphur are projected to increase at a 2.60% CAGR in North America.
  • The U.K. will emerge as a lucrative pocket in the global elemental sulphur market. Demand for elemental sulphur in Europe is expected to soar at a 2.30% CAGR.
  • China is expected to command a lion’s share in the East Asia elemental sulphur market, due to increasing applications of elemental sulphur in the production of fertilizers.
  • Japan and South Korea are projected to hold 3.30% of the global elemental sulphur market in 2021.

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Competitive Landscape

The Saudi Arabian Oil Company, Marathon Petroleum Corporation, Exxon Mobile Corporation, Tengizchevroil, Valero Energy Corporation, Sinopec Corp., Royal Dutch Shell Plc., Pemex, OAO Gazprom, Abu Dhabi National Oil Company, Motiva Enterprises LLC, ConocoPhillips Company, Oxbow Corporation, PotashCorp, Suncor Energy Inc., Flint Hills Resources, Montana Sulphur & Chemical Co., Jordan Sulphur, and National Est. for Agricultural & Industrial Sulphur are among the leading players operating in the global elemental sulphur market.

As per FMI’s analysis, top 5 players operating in the elemental sulphur market are anticipated to account for 23% of the total market share in 2021.

Leading players operating in the elemental sulphur market are actively investing in mergers, acquisitions, joint ventures, and collaborations to strengthen their product portfolios and global footprint.

Dicamba Market Focusing on Current Trends, Leading with Top Key Players

Growing need for broadleaf weed regulation will continue to be the key driver to the demand for dicamba globally. The global dicamba market is foreseen to witness healthy growth, reaching a value worth US$ 313.3 Mn in 2016. North America may outpace the largest dicamba market i.e. Europe, in terms of Y-o-Y growth.

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Use of dicamba as an herbicide for controlling broadleaf weed in domestic, commercial, and non-commercial applications, will remain the primary factor fuelling the demand. Farmland maintenance is the most prominent driver to dicamba market growth. In addition to easy usage and widespread availability, rising need for food safety and security, and growing awareness about efficient crop protection, are likely to favour the growth of the dicamba market, especially in developing countries. Surging need for maximum crop yield without losing facing significant loss is also identified to be one of the important market drivers. Steadily increasing exports from China are foreseen to push the market growth further.

A number of modern agricultural practices involve replacement or combination of glyphosate with dicamba, which may create lucrative opportunities. Moreover, wide acceptance of integrated pest management is also expected to spur the consumption of dicamba. The U.S. EPA’s recent approval for the usage of a non-volatile dicamba-based herbicide by Monsanto is now considered to be a major booster to dicamba market growth. Emergence of innovative applications of dicamba in addressing multiple weed destruction will be another critical factor pushing the market.

Drift damage caused due to the volatility of dicamba can remain a longstanding challenge to the market growth. Similarly, reported cases of illnesses and allergies in humans post-exposure to dicamba, will remain a major barrier to mass adoption. Strict regulations regarding approval is another key factor expected to restrain the market growth.

With revenues beyond US$ 265.0 Mn in 2016, agriculture will continue to lead the market in terms of application, with over 84% market value share. Lawn and turf segment is also expected to register a remarkable market share of over 12% in 2016. While the Y-o-Y growth of agriculture segment is projected to be of around 8.7% in 2017 over 2016, that of the lawn and turf segment is estimated at 7.3%.

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Regionally, Europe is currently the largest market for dicamba. However, it may witness a slight decline post-2016. This region is likely to account for over 26% market share in 2016, whereas the revenues can reach beyond US$ 83 Mn. A higher growth rate is expected to be registered by North America, possibly accounting for almost 24% share of the market value in 2016. In 2017, Europe will exhibit a strong Y-o-Y growth of 7.7% over 2016, whereas that of North America is projected to be of 9.2%.

BASF SE, E I du Pont de Nemours & Company, Monsanto Co., The Dow Chemical Company, Bayer AG, Nufarm Limited, and Syngenta AG are some of the leading companies competing in the global dicamba market. Recently, DuPont and Monsanto Co. announced a multi-year dicamba supply agreement, confined to North America.

Long-term Outlook: The global dicamba market is expected to expand at a robust CAGR of 15.4%.

Bamboos Market Would Progress At A High Double-Digit CAGR During 2019 – 2029, Reaching A Mark Of US$ 12 Bn In 2029

Ascending demand from key end-use industries such as paper & pulp, building & construction, textile, and wood is projected to primarily drive demand for bamboos. The global bamboos market would progress at a high double-digit CAGR during 2019 – 2029, reaching a mark of US$ 12 Bn in 2029, as projected by a new Future Market Insights (FMI) study.

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Bamboo is a versatile multi-purpose forest produce and plays a vital role in the world’s domestic and industrial economies. Bamboo and bamboo-based products are used for a wide range of indoor and outdoor applications, owing to its abundance and versatility.

Key Takeaways – Bamboos Market Study

The pulp & paper end-use industry segment in the global bamboos market is witnessing high growth, and is expected to follow the same trend over the forecast period owing to utilization of bamboo as a raw material in the production of paper & pulp. Bamboo produces about 35% more oxygen as compared to other trees. Additionally, its biomass is an efficient and cheap fuel for power generating units. As a result of this, the power sector is focusing on bamboos as a source of fuel for power generation. Asia Pacific (APAC) is expected to maintain its dominance in the global bamboos market throughout the forecast period in terms of volume as well as value. This can be mainly attributed to the growing construction industry in China and India, supported by surging infrastructural investments. APAC has more than half of the total bamboo species available in the world.

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Thriving penetration of green building technologies is supporting the demand for bamboos due to utilization in construction of scaffolding. Moreover, there is a continuous demand for bamboo furniture, plywood, and outdoor decking in various countries.

Who Is Winning the Bamboos Landscape?

The global bamboos market is fairly fragmented, with small- and medium-scale enterprises accounting for major market share in the global market. Some of the key market players included in the report are Moso International B.V., Bamboo Village Company Limited, and Shanghai Tenbro Bamboo Textile Co. Ltd. New product launches and developments are some of the key strategies adopted by market players to retain their position in the global bamboos market. The companies are engaged in continuously participating in different events, conferences, tradeshows and seminars to market their newly launched products across the globe.

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Bamboos Market – Regional Analysis

High growth in construction, pulp & paper, and furniture industries is expected to be a key driving factor for bamboos market growth. China is a large exporter of processed bamboo products such as bamboo plaiting, bamboo shoots, bamboo panels, wood charcoal of bamboo, etc., whereas countries such as the U.S., Canada, and other European countries where very small bamboo resources are available import bamboo products requirement from other bamboo-rich countries.