Market Research Blog – Page 14425 – New Product Development

Hybrid Vehicles Market expected to increase at a CAGR of 20.4% during the forecast period (2016-2026)

FMI delivers key insights on the global hybrid vehicles market in its latest report titled, ‘Hybrid Vehicles Market: Global Industry Analysis and Opportunity Assessment 2016-2026.’ The long-term outlook of the global hybrid vehicles market remains positive, with market value expected to increase at a CAGR of 20.4% during the forecast period (2016-2026). Among the product types, the hybrid electric vehicles segment is expected to expand at a significant CAGR in terms of value over the forecast period. The global hybrid vehicles market for passenger cars is estimated to be valued at US$ 54.7 Bn by the end of 2016. Japan is estimated to account for a value share of 48.1% in the global hybrid vehicles market by 2016 end, and it is anticipated to retain its dominance throughout the forecast period. In this report, FMI throws light on the drivers and restraints likely to impact the global hybrid vehicles market during this period.

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Global Hybrid Vehicles Market: Factors Influencing Revenue Growth

The hybrid vehicles market is driven by various factors such as better fuel efficiency, incentives & subsidies offered by governments, rising prices of petroleum products, and reduction in air pollution, among others. Hybrid vehicles have better fuel efficiency than conventional vehicles, as apart from using IC engines, hybrid vehicles also use energy stored in a battery, which uses 80% of the energy for driving the vehicle, owing to the higher efficiency involved in converting the chemical energy of batteries into electrical energy. Using battery energy also minimizes the harmful carbon emissions involved with IC engines. Apart from this, various government authorities provide subsidies and incentives to the owners of hybrid vehicles. For instance, in China, the government offers subsidies ranging from US$ 6,750 to US$ 14,000, depending upon the size of the battery pack, to every purchase of a hybrid or electric vehicle. Cities such as Beijing and Shanghai offer free registration plates for electric hybrid vehicles.

The insufficient number of public charging stations hampers the growth of the plug-in hybrid vehicles sector, though portable charging systems are provided by manufacturers, which can be used at home or at the workplace. But while travelling between cities or during an emergency situation, this can cause difficulty to the consumers. Therefore, to fully explore the potential of plug-hybrid vehicles, a sufficient number charging stations are required, which will enhance the market for plug-in hybrid vehicles.

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Segmental Analysis of the Hybrid Vehicles Market

The hybrid vehicles market is segmented on the basis of product type, vehicle type, engine type, and powertrain configuration.

The hybrid electric vehicles segment is anticipated to continue to dominate the market in terms of value over the forecast period. The hybrid electric vehicles segment is estimated to grow at a significant CAGR over the forecast period. It is expected to represent a total incremental opportunity of US$ 297 Bn between 2016 and 2026.
The power split hybrid vehicles segment is projected to be the most prominent powertrain configuration in the hybrid vehicles market. The power split hybrid vehicles segment is estimated to grow at a significant CAGR of 22.7%, in terms of value, over the forecast period. The market for power split hybrid Vehicles is driven by the benefits they offer over parallel and series hybrid vehicles.

Hybrid Vehicles: Regional Market Projections

The hybrid vehicles market in Japan is expected to represent a significantly higher incremental opportunity between 2016 and 2026. The market for hybrid vehicles in Japan is expected to represent a total incremental opportunity of US$ 241 Bn between 2016 and 2026.

Key segments covered in the hybrid vehicles market report

On the basis of product type, the hybrid vehicles market can be segmented into:

Hybrid Vehicles
Plug-in Hybrid Vehicles

On the basis of vehicle type, the hybrid vehicles market can be segmented into:

Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles

On the basis of engine type, the hybrid vehicles market can be segmented into:

Parallel Hybrid
Series Hybrid
Power Split Hybrid

On the basis of powertrain configuration, the hybrid vehicles market can be segmented into:

Gasoline Electric
Diesel Electric

On the basis of region, the hybrid vehicles market can be segmented into:

North America
Latin America
Western Europe
Eastern Europe
APEJ
Japan
Middle East & Africa (MEA)

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Hybrid Vehicles Market: Key Participants

The report highlights some of the top companies operating in the hybrid vehicles market, such as Ford Motor Company, General Motors Company, Honda Motor Co., Ltd., Daimler AG, Volkswagen AG, Renault SAS, Toyota Motor Corporation, Nissan Motor Corporation, Mitsubishi Motor Corporation, Hyundai Motor Company, and Bayerische Motoren Werke AG (BMW).

Top Reports Related To Automotive Market Insights

Golf Cart Market : Increasing urbanization and inclination towards the environment friendly options are key factors driving market of golf cart. As per a Future Market Insights (FMI) analysis, the global golf cart market is estimated to be valued at ~US$ 2.59 Bn in 2021, expanding at a CAGR of ~4.3% during the forecast period from 2021 to 2031. While the COVID-19 outbreak hampered sales to an extent, the market is likely to recover 2021 onwards.

Automotive Interior Leather Market : Globalization of the automobile industry and rising demand for automotive interior customization are expected to remain chief driving factors of the global automotive interior leather market. According to Future Market Insights (FMI), the global automotive interior leather market is estimated to be valued at ~US$ 29.9 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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Golf Cart Market is expanding at a CAGR of ~4.3% during 2021 to 2031

Increasing urbanization and inclination towards the environment friendly options are key factors driving market of golf cart. As per a Future Market Insights (FMI) analysis, the global golf cart market is estimated to be valued at ~US$ 2.59 Bn in 2021, expanding at a CAGR of ~4.3% during the forecast period from 2021 to 2031. While the COVID-19 outbreak hampered sales to an extent, the market is likely to recover 2021 onwards.

With the rising focus on renewable energy, the demand for solar-powered and electric vehicles is increasing. The trend also is visible in the golf cart market. According to FMI, electric golf carts are expected to account for over 87% of sales in 2021. Driven by changing preferences of consumers, some of the leading manufacturers are focusing on developing technologically advanced intelligent braking system for golf carts. This is indicating towards the potential launch of driverless golf carts.

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The research report analyzes demand trends within the global golf cart market. The global market estimation and growth projection are based on factors such as rapid urbanization, automotive industry development, COVID-19 crisis impact, increasing per capita income, and growth in the international and national tourism industries. As per FMI’s research scope, the global golf cart market has been studied and segmented on the basis of product type, operation, application, ownership and region. The global golf cart market report also details global golf cart cost analysis, and market presence of leading manufacturers.

Key Takeaways of Global Golf Cart Market Study

After registering negative growth in 2020, golf cart sales is expected to pick up 2021 onwards
The U.S. market will prove excessively lucrative, accounting for dominant 78.3% sales in 2021
After deceleration in sales, the U.K. market will exhibit recovery, registering 2.6% Y-o-Y growth in 2021
Other than U.K., Germany and France will emerge as key markets within Europe
China will continue dominating East Asia market, followed by Japan and South Korea

“Driven by increasing focus on reducing emissions and the rising demand for energy-efficient mobility solutions, golf cart manufacturers are expected to focusing on the production of solar powered and electric golf carts. With this trend unlikely to slow down in the near future, the market will continue gaining impetus through the forecast period,” says FMI analyst.

Global golf cart Market by Category

Product Type

Push-Pull Golf Cart
Gasoline Golf Cart
Electric Golf Cart
Solar Powered Golf Cart

Operation

Manual
Powered

Application

Golf Courses
Personal Use
Industry Use
Others

Ownership

Rented
Fully Owned

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Global golf cart market is expected to be an opportunistic market in the forecast period due to growing golf sports infrastructure and its applications in various sectors. As this low speed and compact vehicles have numerous applications, starting from their primary application in golf courses to their applications in sports events, airports, resorts, hospitals, warehouses, railway stations, universities, and housing projects, their demand is expected to rise considerably in the coming years.

For instance, Club Car, LLC Club car, a leading company in golf cart market, has introduced its lithium ion-powered golf cart technology in 2019. Such efforts by leading players are expected to bode well for the market.

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Top Reports Related To Automotive Market Insights

Electric Bike Market : FMI delivers key insights on the global electric bike market in its latest report titled “Electric Bike Market: Global Industry Analysis 2012-2016 and Opportunity Assessment 2017-2027.” The long-term outlook on the global electric bike market remains positive with the market value expected to increase at a CAGR of 3.1% during the forecast period (2017-2027).

About FMI

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Mr. Debashish Roy
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MARKET ACCESS DMCC Initiative
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Resealable Closures And Spouts Packaging Market Report | Size, Growth, Demand, Scope, Opportunities and Forecast 2020-2030

Resealable Closures And Spouts Packaging Market Overview

Resealable closures and spouts packaging is the latest innovation in the evolution of pouches and bags packaging presentation, and is used to store thick liquid products such as oil, cream, sauces, adhesive, etc. This type of packaging allows the consumer to reseal or reclose the packaging, while maintaining product freshness and preventing spillage.

Resealable closures and spouts packaging are used for liquid dispensing, are considered the standard for consumer convenience packaging and offers a more streamlined appearance. Growth of resealable closures and spouts packaging market is expected to be driven by growth of the food and beverage market.

Resealable closure and spouts packaging market is anticipated to exhibit an impressive CAGR in the near future. Consumer preference towards small and convenient packaging is a major factor expected to drive growth of the resealable closures and spouts packaging market over the forecast period.

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Resealable Closures and Spouts Packaging Market: Dynamics

The global resealable closure and spouts packagingmarket is highly competitive, which in turn encourages manufacturers to develop new and innovative products, and offer products with technologically-driven features such as digital labelling, and other beneficial features which is significantly increasing the demand for resealable closures and spouts packaging.

Demand for resealable closure and spouts packaging is also getting traction from food and beverage sector, cosmetics and personal care, and healthcare and toiletries product manufacturing companies. Use of resealable closures and spouts packaging has increased for applications in healthy snack, baby foods, and particularly products marketed for children. Resealable closures and spouts packaging can also extend shelf life of foods, making the products ideal for small households.

Resealable Closures and Spouts Packaging Market: Segmentation

The global market of resealable closure and spouts packaging has been segmented on the basis of product type, material used and application. On the basis of product type, resealable closure and spouts packaging market is further segmented into standing pouches, flat pouches, pillow pouches, etc. Materials used in resealable closures and spouts packaging include plastic and paper.

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Standing pouches are a highly scalable product type, both among consumers and vendors. Plastic is the most preferred material among manufacturers due to its sustainable properties and lightweight nature.

On the basis of application, resealable closures and spouts packaging market has been segmented into cosmetics and personal care, food and beverage and pharmaceuticals and consumer goods. On the basis of region, resealable closures and spouts packaging market is segmented into North America, Europe, Asia Pacific, Latin America and the Middle East & Africa.

Resealable Closures and Spouts Packaging Market: Regional Overview

Growth of resealable closures and spouts packaging market in Asia Pacific region has been witnessing significant growth owing to product uptake and increasing consumer base in countries such as India and China. Resealable closure and spouts packaging market in Europe and North America are mature, with high presence of established players. The global market for resealable closure packaging market is expected to witness rapid revenue growth in near future.

Increasing disposable income along with presence of significant consumer base are factors that have led to increased investment by companies engaged in manufacturing and distribution of resealable closures and spouts packaging in the region. Markets in the Middle East and Latin America are expected to witness moderate revenue growth over the forecast period.

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Resealable Closures and Spouts Packaging Market: Key Players

Some key players in resealable closures and spouts packaging market include Amcor Limited, Bemis Company, Ampac, Constantia Flexibles, Janco Inc. Winpak Limited, Multivac, Dupont, Albéa, Essel Propack and Huhtamaki.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, technology, and applications.

The Report covers exhaust Analysis on:

Market Segments
Market Dynamics
Market Size
Supply & Demand
Current Trends /Issues/Challenges
Competition & Companies involved
Technology

Regional Analysis includes:

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

The report is a compilation of first-hand information, qualitative, and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Automotive Lead Acid Battery Market valuation to reach US$ 36.2 Bn in 2031, expand at a steady CAGR of over 3% through the course of 2021-2031

The global automotive lead acid battery sales is projected to increasing, enabling the market’s valuation to reach US$ 36.2 Bn in 2031, according to the latest research by Future Market Insights (FMI). The report estimates the market to expand at a steady CAGR of over 3% through the course of 2021-2031.

Flooded batteries, followed by enhanced flooded batteries are most sought-after lead acid batteries. Flooded batteries are expected to account for over half of sales registered in the market. The use of lead batteries for starting, lighting and ignition (SLI) application is increasing around the world. Easy availability of lead acid batteries and their economical pricing as compared to other battery types will continue enabling growth in the market over the coming decade.

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Despite advent of various advanced technologies, which threaten replacement, lead acid batteries sales will continue surging at a moderate pace. The rising production of passenger and commercial vehicles will continue supporting growth through the course of the forecast period.

Also, the advent of new technologies are aiding overall expansion. Some of the leading manufacturers are focusing on a wide range of automotive lead acid resistance, decreasing heat generation, modification of electrode plates, and improving charge acceptability.

These efforts are expected to improve performance of lead acid batteries, in turn creating lucrative opportunities for increasing sales.

Key Takeaways from Market Study

After a period of negative growth, sales will improve 2021 onwards, enabling the market register 2.8% y-o-y growth in 2021
The U.S. will account for over 86% of sales registered in North America. It is expected to remain the dominant market through the course of the forecast period
Increasing passenger vehicle production will enable sales in the U.K. to increase by 1.7% in U.K. in 2021
Germany and France will emerge as other key markets within Europe
Expansion of the automotive sector will support growth in China, followed by Japan and South Korea

“Market players are threatened by the availability of high-performing alternatives. The increasing demand for lithium-ion batteries and other alternatives has been compelling them to invest in research and development activities. This will enable the market to stay strong, registering steady growth through the course of the forecast period,” said a lead analyst at FMI.

Competitive Landscape

The global automotive lead acid batteries market is highly competitive at regional as well as global level, and highly consolidated in nature. Some of the key players included in the report are Clarios, GS Yuasa Corporation, Panasonic Corporation, Leoch International Technology Limited, Exide Industries Ltd., EnerSys Inc., and others. Top companies operating in the market are occupying hefty shares in terms of revenue. With compliance to governmental standards and regulations, these companies have a global brand presence. Prime manufacturers are also updating their technologies to improve their market share.

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Market Segmentation by Category

By Battery Type

Flooded
Enhanced Flooded
AGM

By Technology

ICE
Hybrid
Electric

By Vehicle Type

Passenger Car
LCV

By Sales Channel

OEM
Aftermarket

By Region

North America
Latin America
Europe
South Asia
East Asia
Middle East & Africa

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Scope of Report

Attribute	Details
Forecast Period	2021-2031
Historical Data Available for	2016-2020
Market Analysis	USD Million for Value and Tons for Volume
Key Regions Covered	North America, Latin America, Europe, South Asia & Pacific, East Asia, and the Middle East & Africa,
Key Countries Covered	US, Canada, Germany, U.K., France, Italy, Spain, Russia, BENELUX, China, Japan, South Korea, India, Thailand, Malaysia, Vietnam, Indonesia, Australia, New Zealand, Turkey, Iran, and South Africa
Key Segments Covered	Battery Type, Technology, Vehicle, Sales Channel, Region
Key Companies Profiled	Clarios GS Yuasa Corporation Panasonic Corporation Leoch International Technology Limited Exide Industries Ltd. EnerSys Inc. East Penn Manufacturing Company Exide Technologies Inc. CSB Battery Company Limited
Report Coverage	Market Forecasts, Brand Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing	Available upon Request

Top Reports Related To Automotive Market Insights

Automotive Pump Market : The automotive pump market is expected to witness a significant growth in 2021, thanks to the implementation of various carbon emission norms across various countries. A study by Future Market Insights (FMI) on automotive pump market has forecast it to reach US$ 106.0 Mn by the end of 2031, growing at a CAGR of 6.1% over the forecast years (2021-2031).

Aircraft Cabin Interior Market : According to Future Market Insight’s (FMI), the global aircraft cabin interior market is forecast to grow at 2.70% in 2021, overcoming the uncertainty about market recovery and performance during a global pandemic. FMI also predicts that the aircraft cabin interior market will exceed the overall market valuation of US$ 14.5 Bn by the end of 2021.

About FMI

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Mr. Debashish Roy
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MARKET ACCESS DMCC Initiative
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Gable Top Cap And Closures Market Trends 2022| Segmentation, Outlook, Industry Report to 2030

Gable Top Cap And Closures Market Overview

Over the last few years, gable top cap and closures are consider as the standard for consumer convenience on gable top carton. Global gable top cap and closures key end use includes fresh milk, bottled water, and fresh juice products. Gable top cap and closures are made up of plastic and recyclable virgin paper boards, the name gable top come from the fold at top which look like a gable end of a house.

Gable top cap and closures were initially designed to pack fresh pasteurized milk. Soon after, gable top cap and closures become standard packaging in many countries for fresh milk, and fresh juices owing to its attractive features in packaging. Other than liquid packaging, gable top cap and closures are also usually used to pack dry products.

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Gable top cap and closures are superior alternative to many traditional packaging solution due to factors such as better branding, convenience in storing, holding, and transportation. Gable top cap and closures is expected to gain substantial market growth owing to environment friendly property of it.

Global Gable Top Cap and Closures Market: Dynamics

In recent time’s consumer become more conscious about environment and are demanding nature friendly products. In order to address consumer’s needs, manufacturers are working on product designing and innovation. Global gable top cap and closures market is expected to expand significantly over the forecast period. Demand for gable top cap and closures is estimated to observe gain owing to rising demand of fresh liquid packaging in bottle.

Gable top cap and closures can be used in packaging of milk, yoghurt, cream, edible oil, juices, healthy drinks, liquor, wine and egg yolk. Moreover, paper gable top cap and closures are friendlier among both manufacturers as well as consumers owing to ease in manufacturing, and convenience in packaging.

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Global Gable Top Cap and Closures Market: Segmentation

The global gable top cap and closures market can be segmented on the basis of material, application, and region. On the basis of material, the global gable top cap and closures market can be segmented into paper, plastic, and others. Paper, material type segment is the most preferable among both manufacturers as well as consumers owing to the environment friendly properties of paper material. On the basis of application, global gable top cap and closures market can be segmented into

beverages, dairy products, fresh juices, pharmaceuticals, and others beverages. Based on application, dairy products and fresh juices are the most lucrative application in global gable top cap and closures market. On the basis of region global gable top cap and closures market can be segmented into North America, Latin America, Asia Pacific, Europe, and Middle East and Africa.

Global Gable Top Cap and Closures Market: Regional Overview

The demand for ecofriendly packaging is boosting the gable top cap and closures market worldwide. Asia Pacific region is expected to be the fastest growing region compared to other regions owing to rising manufacturing sector in this region. The Europe and North America market are highly mature with high presence of established key players in these regions.

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The global market for gable top cap and closures market is expected to witness rapid growth in near future owing to rising per capita spending of consumers on FMCG products along with presence of significant consumer base has led to increase in investment by various companies engaged in manufacturing and distribution of gable top cap and closures in the region. MEA and Latin America are expected to witness moderate growth in gable top cap and closures market over the forecast period.

Global Gable Top Cap and Closures Market: Key Players

The main player of gable top cap and closures market are Blackhawk Molding Co., Inc., Amcor Limited, BERICAP GmbH & Co. KG, Global Closure Systems, Crown Holdings, Inc., Silgan Holdings Inc., Reynolds Group Holdings Ltd., Closure Systems International, Inc., Oriental Containers Ltd., Guala Closures S.p.A., Berry Plastics Corporation, Pelliconi & C. SPA, Parksons Packaging Ltd. and others.

Automotive Wiring Harness Market sales was set to exceed US$ 48 Bn in 2021 | Samvardhana Motherson Group, Sumitomo Electric, Yazaki Group and Fujikura Ltd

Automotive Wiring Harness Market sales are set to exceed US$ 48 Bn in 2021

Substantial increase in the investment for automated driving activities and development of electric vehicles charging infrastructure across the globe are expected to remain key defining factors in the global automotive wiring harness market. As per FMI’s analysis, the global automotive wiring harness sales are set to exceed US$ 48 Bn in 2021, whereas in the long-term, revenues will grow at 9.4%. FMI’s latest edition of the report reveals latest perspectives, along with a detailed analysis of how COVID-19 induced slowdown will impact future sales.

The COVID-19 pandemic crisis has severely affected the global economic growth, resulting in complete shutdown manufacturing activities and disruptions in the supply chain networks. However, automotive wiring harness market is expected to recover sharply as the economic activity resumes post the containment of pandemic.

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Key Takeaways

Automotive wiring harness demand is driven by healthy demand from automotive production in countries such as Germany, China, Japan and France. Investments to reduce CO2 emission and increase passenger safety are propelling demand
Leading automotive wiring harness manufacturers are focused on developing technologically advanced harnesses to improve safety and reduce downtime
Increasing preference of end users towards use of efficiently operating vehicles with advanced HVAC wiring harness systems, sensors wiring harness and chassis wiring harness is expected to fuel the market growth during the forecast period
East Asia and Europe is expected to lead the market in terms of market share owing to prevalence of major automotive wiring harness companies in the Germany and China. Furthermore, thriving development in the automotive industry in European countries such as U.K., France etc. results in substantial growth rate for the Automotive Wiring Harness demand growth

“Manufacturers are focused on developing new wires and cables which occupy less space and are lighter in weight with cost-efficient manufacturing techniques. Raw materials are also being blended to improve the features of the final product. In addition, increase in technology adoption, vehicle customization and various investments and merger strategies to expand their business can be attributed to rise in sales of vehicles which upsurge the automotive wiring harness market. These activities are augmenting the adoption of automotive wiring harness and creating positive prospects for the market growth.” says FMI analyst.

Competitive Landscape

The market is witnessing significant consolidation, in which the leading players account for more than half of the share. The diffusion of small regional players is expected to increase competitive intensity during the forecast period. Some of the key players in the market are LEONI Group, Samvardhana Motherson Group, Sumitomo Electric, Yazaki Group and Fujikura Ltd. These players have considerable hold over market share, and have longstanding relationships with a number of leading end users, giving them a competitive advantage.

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Key Segments

Product Type

Chassis & Safety
- Conventional Chassis
- Semi-Forward Chassis
- Full Forward Chassis
Body
- Roof
- Door & Window
- Facia
- Seat
- Interior
HVAC
Engine
Sensors

Vehicle Type

Passenger Cars
- Compact
- Mid-Sized
- SUV
- Luxury
Light Commercial Vehicles
Heavy Commercial Vehicles
Electric Vehicles
- BEV
- PHEV

Sales Channel

First Fit
Replacement

Region

North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East and Africa (MEA)

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Key Questions Answered in the Report

Which is the most lucrative market for automotive wiring harness?

China currently leads the global market for automotive wiring harness. Sales in China will be over one fifth of total demand throughout the forecast period.

Which are the top-selling automotive wiring harness?

Chassis & Safety are highly sought-after in any vehicle production. The demand for Semi-Forward Chassis is expected to remain high in the near future, especially due to its proliferated usage across electric and conventional vehicles.

Which vehicle type remains lucrative for automotive wiring harness manufacturers?

Automotive wiring harness are widely used in passenger cars. Their usage in electric cars is anticipated to remain key factor impacting the overall market growth.

Top Reports Related To Automotive Market Insights

Off-Highway Vehicle (OHV) Telematics Market : As per the FMI’s study, off-highway vehicle (OHV) telematics market is poised to expand at an impressive 15.40% CAGR during the assessment period of 2021 and 2031. The market valuation will reach US$ 424 Mn in 2021.

Automotive Lead Acid Battery Market : The global automotive lead acid battery sales is projected to increasing, enabling the market’s valuation to reach US$ 36.2 Bn in 2031, according to the latest research by Future Market Insights (FMI). The report estimates the market to expand at a steady CAGR of over 3% through the course of 2021-2031.

About FMI

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Future Market Insights
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United Arab Emirates
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Compostable Foodservice Packaging Sales to Grow as Sustainability Drive Promises Rapid Adoption, Finds FMI

Future Market Insights, in its new offering, outlines the growth trails of compostable foodservice packaging market for the period 2019 and 2029. According to the report, worldwide sales of compostable foodservice packaging reached approximately 6,400 thousand tons in 2018, equaling revenues worth US$ 16.7 Billion. As end users’ quest for sustainable packaging intensifies, manufacturers are likely to witness a period of sustained demand in the future.

Expansion of foodservice industry, along with the emergence of ‘takeaway’ and ‘grab-and-go’ services will continue to provide potential growth prospects of the market. However, the price of producing compostable materials for packaging continues to be higher than the conventional variants which is likely to represent a threat to the growth of the compostable foodservice packaging market.

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With plastics becoming one of the biggest challenges in the world right now, brands prolifically using such materials will need to act quickly to find reliable alternatives. Technological innovations are being made to reduce the price of compostable foodservice packaging, and FMI’s study assesses that the global efforts to become a more sustainable society will be instrumental in creating new growth opportunities for the market vendors.

Trays Continue to Gain Preference Over Other Packaging Format

According to the study, the composite foodservice packaging market is estimated to grow at a CAGR of approximately 5% through 2029. One of the key growth drivers is a notable spike in the number of quick service restaurants (QSRs), especially in developing countries, which align with todays’ convenience and on-the-go culture. In addition, surging adoption of foodservice disposables, in the view of an increase in the demand for pre-packed food, has been preparing the grounds for compostable foodservice packaging penetration.

The study finds that compostable trays continue to account for relatively large share of manufacturers’ bottom lines, while more focus has been placed on increasing the production of compostable cups, as the category is witnessing rising demand from a multitude of end-use sectors.

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As the search for sustainable solutions scales up, companies operating in packaging industry are starting to launch a number of products made entirely from plant-based materials including mushroom roots, bagasse, seaweed, and starch derived from maize.

As per the study, the wave of ‘customization’ is also approaching in the compostable foodservice packaging space. To fulfill the individual packaging needs while promoting sustainability, manufacturers are targeted towards offering custom products of all sizes, ensuring food safety and minimizing leakage.

Demand from non-chain restaurants continues to influence growth strategies, and as identified by the FMI’s study, market stakeholders are tapping into opportunities in chain café and independent foodservice operators. Rapid expansion of international chain café in developing countries along with growing consumer preference to eat out, especially from food trucks and street stalls, is also likely to work well with the manufacturers’ growth strategies.

Growth prospects of the compostable foodservice packaging, as the report opines, are high in EU5 and the U.S. Greater awareness and easy access to innovative solutions along with favorable regulatory framework and higher availability of compost facilities in these regions have worked to the advantage of the stakeholders. In addition, market consolidation in Asia Pacific, particularly in the southern region, will remain a key to gaining distinct competitive advantage, as trends of eating out and online ordering have spiked across the region.

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The business intelligence report also offers an incisive outlook on competitive landscape by analyzing the key development strategies of the market players. According to the study, the market shows a high level of consolidation, with local and regional players catering to domestic and urgent demands, while leading players with strong regional presence account for relatively small share in the market.

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About Packaging Division at Future Market Insights

The Packaging division at FMI provides an in-depth historical analysis and granular projections of the global packaging market. Ranging from packaging materials to designs & formats, FMI has an exhaustive market research database, serving clients with unique offerings and strategic recommendations. With a repository of 750+ reports, the team analyzed the packaging industry comprehensively in 70+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help

Sustained Preference for Refined Craft Beer to Shape Growlers Market Outlook, Finds a New FMI Study

Future Market Insights delivers key insights on the growlers market in its published report, titled “Global Growlers Market: Industry Analysis and Opportunity Assessment, 2018–2028.” In terms of revenue, the global growlers market is estimated to expand at a CAGR of 2.7% during the 2018-2028, owing to numerous factors, about which FMI offers thorough insights and forecasts in this report.

Beer Consumption Patterns Are Evolving, Dictating Demand Growth of Growlers

Top alcohol markets such as the US have been moving towards premium beer in recent years, with similar adoption in high-growth emerging markets. For instance, the penetration of premium beer brands has increased 3-4% above valued and mainstream brands, which has impacted the growlers market positively.

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Simultaneously, the number of independent microbreweries in the US, Germany, and other major economies is also increasing, which is another factor driving the growlers market.

However, markets such as Australia and other Oceanic countries, have witnessed a decline in sales of beer, mostly due to changes in consumption pattern and shift in consumer preference towards other alcoholic beverages. Despite the tough competition faced by beer from different alcoholic beverages, the rise in beer consumption in developing economies such as South Africa, Mexico, and India, is expected to drive the growth of the growlers market during the forecast period.

The primary factors driving the growth of growlers market is the changing consumer demand to experience a large variety of taste and flavors. Moreover, governments in various countries (Oregon being one of the pioneers) are promoting the use of growlers to promote safe storage of alcoholic beverages.

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Craft Beer Trending More in Developing Economies

The beer market in emerging economies is largely taken over by the craft beer manufacturers. China is the largest market for beer by volume, accounting for a quarter of the total market share. Therefore, providing an impetus to the growlers market. The consumer trend in China and India is shifting from mass industrial beers to more refined craft beers, which propels the growlers market in the region.

The demand for growlers in China and India has significantly increased over the last few years, with both, the rise of local craft breweries and the arrival of a growing number of foreign brands.

Non-glass Growlers Highly Recommended, Growler Sales to Face Challenge from Growing Popularity of Crowlers

FMI’s analysis suggests that developed economies tend to create short-term demand and growlers have emerged as an effective packaging solution to cater to this demand. Their reusability makes them ideal for beer packaging and also helps save packaging costs. However, the beer packaged in clear glass growlers is always probable to lose its flavor. The use of dark glass growlers, ceramic growlers, and stainless steel growlers is thus recommended for long-time storage.

Breweries spend millions of dollars on their beer packaging lines to ensure low oxygen levels and freshness of beer for a longer period of time. However, beer goes flat within 24-28 hours of opening the growler, irrespective of the type of growler it is stored in.

This may lead to a decline in growler production in the near future. Promising growth in the popularity of crowlers as a superior, more convenient alternative to growlers will reportedly hamper the sales of latter in coming years.

Global Vendor Landscape Remains Highly Fragmented in Growlers Market

Key manufacturers in the global growlers market profiled in this report include– William Croxson & Sons Limited, DrinkTanks Corporation, Alpha Packaging Inc., Ardagh Group S.A., Klean Kanteen, Inc., Novio Packaging B.V., Berlin Packaging, LLC, MJS Packaging, Inc., Saxco International, LLC, Boelter Companies, Zenan Glass, Hydro Flask, Global Glass Solutions, GrowlersWerks, Inc., Portland Growlers Co., and ORANGE Vessel Co.

While leading manufacturers in the growlers market are focusing on organic expansion strategies, Alpha Packaging has been one of the prominent players strategizing on growler manufacturing capacity expansion. The company has well-established eight production facilities across the US to attain large scale of production capacity and to be strategically near its core customers.

For additional insights on the global growlers market performance through 2028, reach out to the analyst at press@futuremarketinsights.com

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Fruit Beer Market 2022 | Current and Future Demand, Analysis, Growth and Forecast By 2027

Fruit beer is nonspecific term which is generally used to refer various type of beer made from fruit. Fruit beer in any form (stout, large, etc.) contains fruit which is added as a flavoring agent or an adjunct. Fruit beer is originated in Belgium and now it is found in other parts of the world as well. There are lambic and oud bruins which have fruit or fruit syrup added after fermentation as a flavoring and these are termed fruit limbic or fruit beers. Fruity aroma in the fruit beer is very important factor. The strength of the aroma is very much dependent on the fruit used in the brewing process. Some fruits like cherries, plums and raspberries have a more aggressive aroma than the fruit such as blueberries or peach. The aroma of the hop or malt is still present in the fruit beer as it is the base aroma on which fruity smell additionally occur.

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Market Segmentation:

Fruit beer marketis segmented on the basis of flavor, distribution channel and region. On the basis of flavor the fruit beer market is segmented into raspberry, peach, blueberry,cherries, plums and others. Among all these flavor, raspberry flavoured fruit beer segment is expected to account for significant share of total fruit beer market during the forecast period. The demand for fruit beer is more as it is one of the most refreshing beverage consumed during summers and the flavors offered are very much loved by women. On the basis of distribution channel the fruit beer market is segmented into hyper/supermarket stores, departmental stores, specialty store and online retailers. Hyper/supermarket is expected to hold a relatively higher share in the fruit beer market, followed by specialty store segment. As we all know online stores offers great discounts and easy delivery options of the product at the doorstep, thus this segment is anticipated to grow enormously in the forecast period

Market Regional Outlook:

Regional segment for the market of fruit beer is segmented into five different regions: North America, Latin America, Europe, APAC and MEA. Among these segment Europe is expected to represent for the largest market share globally, and is also expected to remain dominant during the forecaster period. In North America, countries like U.S. is the key market for fruit beer. In terms of revenue North America is the expected to be the second leading contributor in thefruit beer market.

Market Drivers:

The fruit beer market is also driven by the love for refreshing beverage by women population. Fruit beer’s flavor possess a fine balance between the traditionally found malt beer and the sweetness of fruit. Fruit beers are available in different flavors unlike traditional beers. Furthermore, the unique flavor profile of fruit beers has made it one of the most popular beverage among the consumers in the west.Flavor, much like the aroma, must have a noticeable character imparted by the fruit. The sugar present in selected fruit is generally totally fermented, which creates a drier finish and lighter flavors, because of which the amount of extra added sugar in these beer in considerably less and the flavor of the fruit becomes more noticeable. Rising ever-increasing population, increase in the number of bars and restaurants, disposable income, increase in the acceptance of western culture and relaxation in the rules and regulation related to the operation of fruit beer industry are some of the major driving force for fruit beer market. Increasing disposable income among the working class population allows the consumers to socialize more in bars and restaurants and spend more on alcoholic beverage. In addition, consumers are now willing to pay more for premium segments as well. All these combined factors are fuelling the growth of the fruit beer market in the forecast period globally.

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Market Key Players:

Some of the major players in Fruit Beer market includes Joseph James Brewing Company, Inc., Lindemans Brewery, Lost Coast Brewery, Magic Hat Brewing Company, New Belgium Brewing Company, Brewery Ommegang, All Saints’ Brewery, Shipyard Brewing Company, Unibroue, Wells & Young’s Ltd., Brouwerij Van Honsebrouck N.V., Abita Brewing Co. and Pyramid Breweries, Inc. among others

The report covers exhaustive analysis on:

Fruit Beer Market Name Segments
Fruit Beer Market Name Dynamics
Historical Actual Market Size, 2012 – 2016
Fruit Beer Market Name Size & Forecast 2017 to 2027
Supply & Demand Value Chain
Fruit Beer Market Name Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain
Fruit BeerMarket Name Drivers and Restraints

Regional analysis includes

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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Report Highlights:

Detailed overview of parent market
Changing market dynamics in the industry
In-depth market segmentation
Historical, current and projected market size in terms of volume and value
Recent industry trends and developments
Competitive landscape
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on market performance
Must-have information for market players to sustain and enhance their market footprint.

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Aluminum-Free Food Pouch Market : Global Industry Analysis, Size and Forecast, 2017 to 2027

Aluminum-Free Food Pouch Market Overview

A lot of changes are occurring in the food packaging system from the way the food is produced to how it is distributed, stored, processed and retailed. Food pouch are common flexible packaging formats for everyday food products. Aluminum-free food pouch has combined advantages of traditional, rigid food packaging with modern flexible material.

Aluminum-free food pouch are designed for packaging of food and has numerous technical advantages. Packages are also required to be recyclable and easily disposable therefore most companies have switched to using the European and USA-patented Ensobarr barrier coating, replacing the traditional aluminum laminating in packaging boards with aluminum-free food pouch.

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The aluminum-free food pouch with value added features continue to stimulate the growth for aluminum-free food pouch market globally, with spouted pouch and retort pouch posting fast gains. The aluminum-free food pouch market can be segmented on the basis of material type, pouch type, by its application and by region. On the basis of material type, the global aluminum-free food pouch market is segmented into flexible plastic which includes films and sheet, rigid plastic and others.

On the basis of pouch type, the global aluminum-free food pouch market can be segmented into flat pouch, stand up pouch and others. On the basis of application, the global aluminum-free food pouch market is segmented into vacuum, re-sealable, retort, spouted and stick market.

On the basis of region, the global aluminum-free food pouch market is segmented into North America, Europe and emerging countries of Asia Pacific. Many of the fresh food packaging companies are shifting to aluminum-free food pouch as it offers customization and provides immense scope to create new designs also the added advantages of aluminum-free food pouch such as non-toxicity and biodegradable properties, thus propelling the demand for aluminum-free food pouch across the aforementioned regions.

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With the general use of packaging and development of modern techniques for food safety and commercialization, efficient packaging has become necessary for all food types from fresh produce to ready to eat meals. The aluminum-free food pouch also known as the alu-free pouch are designed to have numerous advantages which include superior barrier property, perfect air-tightness, optimal puncture resistance to preserve the organoleptic qualities of the food, diverse options for easy opening, rotoprinting to optimize product communication, customization of the pouch according to desired visual effects like glossy, matte, transparent etc.

Comparatively packing of food in aluminum-free food pouch is much more convenient as users can view the contents in the pouch which is not possible in aluminum pouch. Also, aluminum reacts with the acids in acidic food, therefore most of the companies are opting for making aluminum-free food pouch.

The use of aluminum-free food pouch are widely accepted by the consumers as they are lightweight and easy to handle, in addition to being eco-friendly. In addition, aluminum-free food pouch are more cost effective as compared to aluminum pouch as they offer flexibility and ensure better shelf visibility, which is expected to augment the demand for aluminum-free food pouch globally.

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By region, Asia Pacific is leads the aluminum-free food pouch market, owing to increasing number of middle class customers with greater spending power, who are more appealed toward cost-effective aluminum-free food pouch, especially in India and China. But this can only be credited due to high population in these countries and according to the per capita consumption of aluminum-free food pouch. The Europe and North America markets for aluminum-free food pouch market is followed by Asia-Pacific market.

Product innovation and expansion are some of the key strategies adopted by major players in the aluminum-free food pouch market. Some of the key players identified in the global aluminum-free food pouch market includes Astrapak Limited, Berry Plastic Corporation, Coveris, Mondi Group, and Sonoco. These companies provide aluminum-free food pouch as they have good expertise and more experience gained over the years which has improved their practices and processes to become more efficient.

The report covers exhaustive analysis on:

Market Segments
Market Dynamics
Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain

Regional analysis includes

North America (U.S., Canada)
Latin America (Mexico, Brazil, Rest of Latin America)
Europe (EU5 Countries, Nordic countries, BENELUX, Poland, Russia, Rest of Europe)
APAC (China, India, ASEAN, Australia & New Zealand, Japan)
MEA (GCC Countries, S. Africa, N. Africa)

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.