Market Research Blog – Page 14577 – New Product Development

Ultra-High Performance (UHP) Tire Market valuation reaching US$ 23.32 Bn in 2031 | Continental AG, Goodyear Tire & Rubber Company, Pirelli & C. S.p.A.

The global UHP tires market is projected to reach a valuation of US$ 10.41 Bn in 2021. Increasing demand for high performance vehicles in the automotive sports sector is expected to push sales of UHP tires at 10.9% CAGR, with the market valuation reaching US$ 23.32 Bn in 2031.

Rapid expansion of the automotive sector is resulting increasing sales of sports cars, SUVs, and light trucks across the globe. These vehicles are expected to offer optimal performance in all weather conditions, which in turn is spurring demand for ultra-high performance tires.

Besides this, shifting consumer preference towards high performance automotive components backed by rising disposable income is creating lucrative growth prospects for UHP tires market players.

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As per FMI’s regional analysis, the U.S. is anticipated to dominate the North America UHP tires market. Growth can be attributed to strong presence of key automotive players in the U.S., along with rapid adoption of new technologies to manufacture more efficient and durable tires. These trends will continue augmenting growth of the UHP tires in North America over the assessment period.

“Rising popularity of automotive racing sports such as Formula one, coupled with increasing replacement and repair of vehicle parts through aftermarket, will continue augmenting growth of the global UHP tires market through 2031,” says an FMI analyst.

Key Takeaways:

By tire type, all-season tires are expected to account for more than half of total UHP tires market share in 2021.
Sales of UHP tires in the sports car segment are anticipated to hold nearly 57% of the total UHP tires market share in 2021.
The replacement/aftermarket segment is projected to account for more than three-quarter of the total UHP market share in 2031.
The U.S. is anticipated to hold a dominant share of 81.5% of the North America UHP tires market in 2021.
China will emerge as a lucrative market, creating an incremental opportunity of US$ 1 Bn in 2031.
Germany is projected to account for 17.9% of the Europe UHP tires market share in 2031.
Japan and South Korea will hold 43.5% and 26.0% of the global UHP tires market share respectively.

Competitive Landscape

Leading players operating in the global UHP tires market include Continental AG, Goodyear Tire & Rubber Company, Michelin Group, Pirelli & C. S.p.A., Bridgestone, KUMHO TIRE Co., Inc. , Yokohama Rubber Co., Ltd, Nankang Rubber Tire Corp., Ltd. , HANKOOK TIRE & TECHNOLOGY Co., Ltd., Toyo Tires and others.

To gain a competitive edge in the market, players are focusing on research and development to launch new variants of UHP tires. Apart from this, players are investing in strategic collaborations, mergers and acquisitions to expand their global footprint. For instance:

Michelin is launching a new generation of four-season tires. The new MICHELIN CrossClimate 2 tire stands out through its excellent mileage performance and its ability to maintain a high level of performance from the first kilometer to the last, i.e. all the way down to the legal minimum tread depth. It illustrates Michelin’s commitment to designing tires that offer a very high level of performance throughout their life and right up to their end of life.
Yokohama Tire’s long, successful history with Porsche Motorsport North America (PMNA) continues. Yokohama and PMNA announced a new racing series and partnership with the United States Auto Club (USAC). Yokohama will be the official tire partner and presenting sponsor for the USAC-sanctioned 2021 Porsche Sprint Challenge North America by Yokohama.

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Ultra-High Performance (UHP) Tires Markey by Category

By Tire Type:

Summer
Winter
All-Season

By Vehicle Type:

Sports Car
SUV/MUV
Light Trucks

By Sales Channel:

OEM
Replacement/Aftermarket

By Region:

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

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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.

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

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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Automotive Body in White Market Growth Analysis, Business Demand with growing CAGR of 3.4% by 2031 | Leading Players like Kirchhoff Automotive GmbH, Voestalpine AG, Gestamp Automocion

As per a Future Market Insight (FMI) analysis, the automotive body in white demand is expected to rise at a year-on-year (YoY) growth of 3.1%, reaching US$ 59.7 billion in 2021. The increasing demand for passenger vehicles will drive the automotive body in white sales at 3.4% CAGR over the forecast period from 2021 to 2031.

Automotive body in white market is set to be valued at US$ 59.66 Bn in 2021, with a lucrative long-term projection, according to latest study conducted by Future Market Insights (FMI).

The rising demand for sustainable means of transportation is expected to propel the automotive body in white market growth.

Some of the leading manufacturers are focusing on providing high quality body in white and are expected to invest in new technologies and advanced manufacturing procedures in order to stay ahead of the competition.

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The rise in the automotive production globally is expected to drive the demand for body in white during the forecast period. Governments in various parts of the world are introducing regulations to encourage the incorporation of innovative technology.

Body in white manufacturing companies are entering into merges and acquisitions with leading automotive OEMs and tier 1 suppliers in order to expand their market presence.

The global automotive industry suffered a major decline of production and sales in 2020 due to pandemic, but the market is slowly recovering as the manufacturing facilities have resumed production of automotive vehicles.

According to research, the global automotive body in white market is projected to exhibit growth between 3% and 4% during the tenure of 2021 to 2031

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Automotive Body in White Market by Category

By Product Type:

Body Structure
- Bumper Beam
- Crossmember
- Roof Frame
- Cross Car Beam
- Others
Body Component
- Quarter Panel
- Floor Panel
- Rocker Panel
Chassis

By Vehicle Type:

Passenger Vehicles
Light Commercial Vehicles (LCVs)
Heavy Commercial Vehicles (HCVs)

By Region:

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

Key Takeaways from Market Study

Global demand for automotive body in white is rising due to the increase in the production and sales of passenger vehicles in developed and developing countries.
In terms of product type, body structure is projected to grow at an impressive CAGR, ranging from 3.5% to 4%.
In the vehicle type segment, passenger vehicles segment holds lucrative growth opportunities and is anticipated to create incremental $ opportunity worth US$ 18,875 Mn between 2021 and 2031
The market in East Asia is projected to expand at a CAGR of close to 4.2% from 2021 to 2031.

“The market is predicted to grow due to the increasing global production of automobiles and the deployment of innovative manufacturing procedures” says a Future Market Insights analyst.

Competitive Landscape

The market is consolidated with key players serving leading OEMs and automotive tier 1 suppliers. These players are likely to invest in new technology developments and expansion of their networks in order to increase their market shares. Some of the key players in this industry are Kirchhoff Automotive GmbH, Benteler International, Voestalpine AG, Gestamp Automocion, CIE Automotive, ThyssenKrupp AG, Magna International Inc., JBM Auto, Martinrea International Inc., Shiloh Industries, Dura Automotive Systems, H-One Co., Ltd, Autokiniton Global Group, Multimatic Inc. and Futaba Industrial Co., Ltd.

Report Coverage:

Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

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Key Questions Answered in Automotive Body in White Market Study

What is the automotive body in while market valuation?FMI has forecast the overall valuation of the automotive body in white market to surpass US$ 59.7 Bn by 2021.
What is the demand outlook for automotive body in white market?The demand for automotive body in white is expected to increase at a CAGR of 3.4% between 2021 and 2031. The market is expected to reach a valuation of US$ 83.6 Bn by 2031
What are the key trends shaping the automotive body in white market?The automotive body in white sales will grow as leading manufacturers focus on using cost-effective and lightweight materials. This trend is expected to continue through the course of the report’s assessment period.
What is the North America automotive body in white market outlook?The demand for automotive body in white will increase at 3.3% CAGR in North America between 2021 and 2031.
Which are the top five countries driving the automotive body in white demand?The demand for automotive body in white is considerably high in China, US, India, Japan, Germany.
What are the key factors fuelling the demand for automotive body in white?Infrastructure development and adoption of advanced manufacturing procedure, besides the increasing automotive production and sales will fuel the demand in the market.

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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Railway Bearing Market will grow in value at a CAGR of 5.7% between 2020 and 2030 | Key Top Players- Timken Company, JTEKT Corporation, Amsted Rail Company

Future Market Insights (FMI) projects that the global railway bearings market will grow in value at a CAGR of 5.7% between 2020 and 2030.

According to the study, as governments invest significantly to improve railway infrastructure, demand for locomotive components, including railway bearings is likely to grow. Moreover, the availability of a wide range of railway bearings – such as cylindrical, tapered, angular contact, etc. – enables adoption based on diverse application-specific requirements.

Owing to the expansion of railway networks, there is a high demand for high-reliability and low-maintenance bearings that can withstand harsh physical conditions. According to the study, market players are directing their focus towards the innovation of advanced bearings. Manufacturers are coating bearings with ceramic or polymers to give insulation properties and are opting for other innovations.

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The report opines that the growth of the market will behold fluctuations during the COVID-19 pandemic owing to hindered operations in the railway sector. However, governments and private railway network operators are introducing policies and investments to cover lost revenue opportunities, and this is likely to alleviate the impact to an extent.

Key Takeaways

The global railway bearings market is poised to surpass a valuation of US$ 4.5 Bn by 2030.
Roller bearings will remain top-selling category, accounting for over 3/5th of market value through the assessment period.
Based on application, the wheels segment will capture nearly half of global market value.
By type of train, freight trains will account for over 40% of global value, ascribed to high spending by private freight rail network operators on timely maintenance and upgrades.
The aftermarket segment will channel nearly 65% of revenue to the market owing to increased spending on aftermarket servicing.
Europe will reign supremacy over the regional landscape, capturing around 2/5th of market share.
East Asia, South Asia, and Pacific will cumulatively account for nearly 40% of global value, backed by soaring investments to develop railway networks.

“Market players are focusing on developing advanced yet cost-effective railway bearings that require minimal maintenance in order to build a loyal consumer base,” remarks FMI analyst.

COVID-19 Impact

COVID-19 pandemic is expected to adversely impact the growth of the market as operations in the railway sector, including maintenance and production, come to a screeching halt. Moreover, hampered productions and travel restrictions are decelerating the demand for railway bearings during the pandemic and the downtrend is likely to prevail through 2020.

However, governments are investing in the railway sector to lower the long-term impact. For instance, China’s Zhejiang provincial government increased its spending on railways in the first half of 2020 to cope up with the losses caused by COVID-19. Such initiatives will alleviate the impact to an extent.

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Key Segments

Product Type:

Roller Bearing
Ball Bearing
Plain Bearing

Train Type:

Very High-Speed Train
Mainline Train
Metro Train
Freight Train
Special Train

Application:

Engine
Wheel
Interior
Exterior

Sales Channel:

OEM
Aftermarket

Region:

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

Who is Winning?

Railway bearings manufacturers are focusing on developing innovative and cost-effective products and are entering strategic partnerships to achieve the same. On these lines:

In March 2020, NSK Ltd. developed low maintenance, high-reliability gearbox bearings which can be used for large and small gears
In September 2020, NSK Ltd. announced that its bearings found adoption in Japan’s Shinkansen bullet train.
In November 2018, Russia based AB SKF, announced its partnership with Siemens, to improve railway reliability.

FMI’s report includes profiles of some of the most prominent names in the market including NSK Ltd., The Timken Company, JTEKT Corporation, National Engineering Industries Limited, Amsted Rail Company, NTN Corporation, Schaeffler Group, SKF AB among others.

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Top Reports Related To Automotive Market Insights

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.

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.

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Automotive Coolant Aftermarket is projected to exhibit CAGR of 4.0% through the forecast period 2020-2030

Future Market Insights, an ESOMAR-certified market research firm, in its incisive market study on the global automotive coolant aftermarket opines a 4% CAGR through 2030.

The development of advanced coolant solutions, with non-polluting properties and extended service life are helping in reduction of maintenance costs. This will remain a key imperative, boosting market prospects over the forecast period.

With fewer people resorting to shared mobility services in the prevailing pandemic, high reliance on personal vehicles will spur demand for automotive coolants.

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“With car parc being the primal performance driver of the coolant aftermarket, a drop in new car sales will impact its inflow thus affecting the overall demand for coolants” says FMI analyst.

Automotive Coolant Aftermarket Outlook & Key Findings

Automotive coolant aftermarket is projected to exhibit a CAGR of 4.0% through the forecast period 2020-2030
Sales through independent garages continue to account for a significant chunk of overall revenues
The pervasiveness of car rental businesses is accelerating maintenance and coolant replacement/ top up, creating new growth avenues
Brand awareness activities through event sponsorships, licensing agreements, and tele-commercials key marketing strategy

Key Takeaways for Automotive Coolant Aftermarket Study

Ethylene Glycol-based organic coolants will remain the preferred choice among end-users on back of their cost-effectiveness and high suitability in varying climatic conditions
The high demand for goods carriers from small and medium-sized enterprises in APAC will accelerate demand for automotive aftermarket coolant within this region
Stringent emission norms and miniaturization of engine components will fuel demand for coolants with improved thermal load resistance
East Asia will continue to lead the automotive coolant aftermarket in 2020 capturing 32% of market share
A significant section of consumers are switching to purchase of coolants from online sources to obviate the effects of closed service stations and dealerships

Despite Near Term Uncertainties, Market Slated for Quick Recovery

The current pandemic will offset sales of automotive coolants temporarily. The market is witnessing demand destruction with supply chain disruptions and halted production in the overall automotive sector. Trade restrictions and closed borders have impacted supply and distribution of coolants.

A rapidly evolving consumer dynamic is emerging that is showing markedly different mobility preferences. Shared mobility will decrease and personal vehicle usage will rise.

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Automotive Coolant Aftermarket: Competition Landscape

The Automotive Coolant Aftermarket is a fragmented market with the presence of a large number of global and regional players. Affordability, high-corrosion resistance and longevity will be key factors on which manufacturers will differentiate their product offerings.

Prestone’s AF2100 Extended Life 50/50 antifreeze coolant is one of the top selling coolants in the market. It’s high applicability in automotive rests on its superlative performance. The coolant comes pre-diluted with 50% de-mineralized water and 50% antifreeze thus offering heat protection in temperatures as low as -34 degrees
Motorcraft’s Gold antifreeze coolant continues to be the coolant of choice for Ford owners. The coolant gives protection against heat, cold and corrosion with a longer life and is ideal for gasoline and diesel engines
The G13 coolant by Audi is specially designed for Audi cars and Volkswagen and can be used in the 50:50 ratio which users need to attain using distilled and demineralized water. While more costly, it provides trouble-free service for 4-5 years.
WT SUPRA coolant by Total released this year offers patented carboxylate technology which reduces environmental impact with its non-polluting properties. It also offers extended service life.

Market Taxonomy

Product Type

Organic
Inorganic
Hybrid

Vehicle Type

On-Road Vehicles
- Passenger Cars
- Commercial Vehicles
- Motorcycles & Scooters
Off Road Vehicles
- Tractors
- Construction Based Vehicles (Loaders, Excavators, Bulldozers, Road Rollers, Mobile Cranes)
- Industrial Vehicles (Towing Tractors, Fork Lift Trucks, UTV Carriers)

Sales Channel

Vehicle Service Stations
Independent Garages
Authorized Dealers/ Franchise
Multi-brand Dealers
Online Sales

Region

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

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Find More Valuable Insights on Automotive Coolant Aftermarket:

FMI in its new market research study, offers an unbiased analysis of the Automotive Coolant Aftermarket which comprises global industry analysis for 2015–2019 and opportunity assessment for the 2020–2030. The report offers complete analysis on global Automotive Coolant Aftermarket through four different categories – By Type, By Vehicle Type, By Sales Channel and region. The global Automotive Coolant Aftermarket study provides information of pricing by different life cycle analysis, product life cycle, key market trends and technologies which are being implemented in the production of the Automotive Coolant Aftermarket and product adoption in varied end use industries.

Top Reports Related To Automotive Market Insights

Advanced Driver Assistance System (ADAS) Testing Equipment Market : As per a recent market survey by ESOMAR-certified consulting firm Future Market Insights (FMI), the global ADAS testing equipment market reached US$ 222,486 Thousand in 2021.

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Automotive Interior Ambient Lighting Systems Market is expected to grow at a CAGR of ~6% during the forecast period of 2019-2029, was ~US$ 3 Bn In 2018

Future Market Insights (FMI), in its recently published report, suggests that the sales of automotive interior ambient lighting systems reached ~2.7 million units in 2018, equating the revenues worth US$ 28 Bn. As fuel efficiency, low emission, and high performance can no longer suffice the evolving vehicle selection criteria of consumers, automakers continue to face pressure of implementing multifaceted strategies, covering comfort, style, and aesthetics.

The study finds that manufacturers are being considerate of the fact that interior ambient lighting can be made ‘functional’ by influencing the mood, circadian rhythms, and alertness of drivers, thereby enhancing the night-driving safety and appreciation of vehicles.

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Once developed exclusively for luxury auto models of Audi, Infinti, Mercedes, BMW, and Jaguar, automotive interior ambient lighting systems are rapidly becoming ubiquitous in the mid-range and economical vehicles as well. In addition to rendering an extra aesthetic appeal to vehicle models, ambient lighting systems are now being designed for driver’s assistance in terms of orientation, which marks a highly profitable trend in market.

OLED to Illuminate the Road Ahead, Replacing LED and Incandescent

Innovation is likely to come thick by fast replacing the incandescent lights with the penetration of LED technology for the development of automotive interior ambient lighting systems. The study finds that the adoption rate of LED-based lighting systems will act as a key differentiator since they consume substantially lesser energy than incandescent and halogen lights of equivalent brightness and delay the impact of time. As automotive industry operates within the confined boundaries of regulations, environmentally-benign OLED lights will illuminate the future of the automotive interior ambient lighting systems market.

The study finds that in the future, the options will turn more sophisticated with the surfacing of autonomous vehicles and IoT technology to keep the focus of drivers intact. In addition, issues of power failure encountered with the integration of wired lightings have been leading to the development of battery-operated wireless lighting systems, which is likely to remain well-appreciated by technologically-abreast consumers. As automakers prioritize on the development of interior ambient lighting systems by keeping consumers at the centre, integration of gesture-recognition ambient lighting systems is anticipated to make an attractive preposition.

In the consolidated landscape, automakers are braced to tune the competition frequency to the next level by targeting consumers’ proclivity for premium and visually-appealing vehicles. Manufacturers focus on optimizing their innovation capability by blending the best of the competencies for enhancing the features of interior ambient lighting systems. However, as quality comes at a cost, counterfeiters operating in the automotive interior ambient lighting systems landscape find the leeway to offer low-quality systems at a cheaper rate. The trends have especially been observed in the developing countries of East Asia and South Asia, which is a crucial concern for automakers to address and bridge the gap to reach out to more consumers with authentic lighting systems.

The report opines that on the backdrop of environmental thinking adopted by automakers, advent of electro-mobility will lead the movement to high sales opportunities. In addition, as consumers gain intellect apropos of the safety features of automotive interior ambient lighting systems, the future of vehicles is likely to stand tall at the intersection point of aesthetics and safety.

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Key Segments

By Technology

LED
Others

By Vehicle Type

Compact
Sedan
Executive
SUV/MUV
Luxury
Sports
LCV
HCV

By Application

Centre Console and Dashboard
Doors
Roof
Floor
Others

By Sales Channel

OEM
Aftermarket

By Region

North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East and Africa

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Automotive Interior Ambient Lighting Systems Market – Key Research Findings

The global automotive interior ambient lighting systems market size in 2018 was ~US$ 3 Bn.
The automotive interior ambient lighting systems market is expected to grow at a CAGR of ~6% during the forecast period of 2019-2029.
Besides the growing trend of customization for interior ambient lightings among customers, availability of a variety products has been recently driving the sales of automotive interior ambient lighting systems.
Collectively, East Asia, North America, and Europe are likely to account for half of the revenue shares in the automotive interior ambient lighting systems industry by the end of 2029.
- North America, attributing to the robust automotive industry in the U.S., will continue to be a prominent regional market for automotive interior ambient lighting system manufacturers.
The centre console and dashboard segment is expected to remain a prominent application area to invest in, for automotive interior ambient lighting systems market players.
- The automotive industry has witnessed significant growth over the recent past, and the revival of interior lighting systems has been particularly striking.
- Significant application potential of automotive interior ambient lighting systems has been identified in the doors lighting category.

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Lightweight Compact Wheel Loader Market are projected to total US$ 1.64 Bn by 2022, exhibiting growth at 2.7% CAGR over the forecast period 2022-2030

The global lightweight compact wheel loader market is estimated to expand at a sluggish pace, reaching the valuation of US$ 2.03 Bn in 2030. Lightweight compact wheel loaders are emerging as preferred equipment on job sites for many projects, a regular-sized wheel loader may be very large for the worksite. In these cases, lightweight compact wheel loaders offer the perfect option of size, power, and capabilities.

[200 Pages Report] The global lightweight compact wheel loader market is estimated to reach US$ 2.03 Bn by 2030 in comparison to US$ 1.61 Bn registered in 2021. Increasing introduction of novel lightweight compact wheel loaders with integrated advanced technologies such as telematics is expected to favor the growth in the market.

As per the recent survey by FMI, sales in the global lightweight compact wheel loader market are projected to total US$ 1.64 Bn by 2022, exhibiting growth at 2.7% CAGR over the forecast period 2022-2030.

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Key Takeaways of Lightweight Compact Wheel Loader Market Study

Remote-controlled lightweight compact wheel loaders are the most recent development in the compact wheel loaders market. Remote controlled compact wheel loaders remove the human element from the production face to avoid accidents. Further, they increase an operator’s quality of life, as the person is working in an office environment instead of underground.
In the global lightweight compact wheel loader market, compact track loader is expected to hold approximately a third of market share.
Renting a wheel loader has been identified as a new trend in the global market. Skid steer loaders and compact track loaders are gaining attention in the rental market.
Manufacturers are offering lightweight compact wheel loader with advanced features and functionality, designed specifically for the rental market to meet user demand for improved operator environment, control, and comfort.

The COVID-19 or coronavirus pandemic has affected a majority of the countries in Europe and Asia, with North America expected to follow soon. The pandemic is causing shutdowns of industrial and commercial activities, drastically hampering the global economy. Long-term supply contracts of the lightweight compact wheel loaders are affected. Recovery will be gradual.

Market Landscape Moving Towards Consolidation

The lightweight compact wheel loader market is expected to dominate by tier-I manufacturers. Tier-I players are focusing on the expansion of their footprints by increasing distribution channels in various regions and establishing manufacturing units. Some prominent players involved in the global lightweight compact wheel loader market are shifting their focus on technological development, product development, and acquisition.

For instance, in 2019, CNH Industrial N.V. developed a new compact wheel loaders with electrohydraulic controls. With more than 20 electrohydraulic actuators and 20 sensors installed on the machine, this technology improves operator controllability and provides an option to select different operating modes.

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LIGHTWEIGHT COMPACT WHEEL LOADER MARKET TAXONOMY

Product

Compact Track loaders
Skid Steer Loaders
Backhoe Loaders
Wheeled Loaders

Application

Construction
Agriculture & Forestry
Industrial
Utilities
Facility/ Property management

Region

North America
Latin America
Europe
East Asia
South Asia & Pacific
MEA

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LIGHTWEIGHT COMPACT WHEEL LOADER MARKET STRUCTURE ANALYSIS

The global lightweight compact wheel loaders market is highly competitive due to presence of large number of players. Doosan Corporation, Wacker Neuson SE, Hitachi Construction Machinery Co. Ltd, CNH Industrial N.V., are Tier-I players involved the global lightweight compact wheel loader market.

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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.

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Automotive Variable Oil Pump Market Expanding at a healthy 2.9% CAGR, the market size is projected to total US$ 10.6 Bn by 2030 | Continental AG, KSPG AG, Denso Corporation, and Robert Bosch GmbH

Nowadays, automotive engines require excessively large oil flow, especially at low engine speed, since conventional unregulated pumps lead to substantial losses at higher speed, as the pump’s output depends on engine speed. For effective automotive piston cooling and lubrication, automotive variable oil pumps precisely provide the correct quantity of oil in all conditions, and also help reduce torque absorption in non-critical working points. These pumps also reduce carbon emissions and fuel consumption along the way.

[237 Pages Report] Sales in the global automotive variable oil pump market are slated to top US$ 8.5 Bn in 2022. Expanding at a healthy 2.9% CAGR, the market size is projected to total US$ 10.6 Bn by 2030.

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Key Takeaways of Automotive Variable Oil Pump Market Study

Conventional gear pumps controlled with dissipative systems are being replaced by variable oil pumps that can control oil flow rate and pressure without any energy loss.
By regulating the flow of oil at variable pressures, heat transfer can be optimized in the piston and head of the engine. This results in reducing the formation of carbon deposits in the engine. This is one of the key factors that is driving the demand for automotive variable oil pumps.
Automotive variable oil pumps are able to aid 2% fuel savings on consumers drive cycles as compared to conventional engine oil pumps.
Western Europe and North America are expected to hold a substantial market share in the global automotive variable oil pump market through 2030.

“Automotive variable oil pumps offer better fuel efficiency and lower carbon emissions as compared to conventional oil pumps. This feature is playing a key role in positively influencing market growth. Moreover, increasing automotive production will further drive the growth of the global automotive variable oil pump market.”

Automotive Variable Oil Pump Market: Participant Insights

The automotive variable oil pump market is fairly competitive, with the presence of key market participants that have expertise in advanced manufacturing techniques. Market stakeholders in developing markets are poised to expand their business operations and increase value-addition in their product offerings through portfolio rationalization. Furthermore, to endure in the long run, product innovation is one of the key strategies being adopted by market players.

Some of the key market participants in the global automotive variable oil pump market are Continental AG, KSPG AG, Denso Corporation, and Robert Bosch GmbH.

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AUTOMOTIVE VARIABLE OIL PUMP MARKET TAXONOMY

The global automotive variable oil pump market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the readers.

Fuel Type

Gasoline
Diesel
Hybrid

Sales Channel

OEMs
Aftermarket

Vehicle Type

Passenger Cars
LCVs
HCVs

Region

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

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Market Outlook

As disposable income has increased significantly across various developing nations, the demand for passenger vehicles has grown. Furthermore, the demand for high-performance automotive vehicles has also risen. This has resulted in increasing the demand for automotive variable oil pumps in heavy and light commercial vehicles. A number of automotive variable oil pump suppliers have long-term supplier contracts with OEMs, as per their specific requirements.

More Insights on Automotive Variable Oil Pump Market

Future Market Insights (FMI) has published a new market research study on the automotive variable oil pump market, which comprises global industry analysis of 2015-2021 and opportunity assessment for 2022-2030. The report provides a perceptive study of the global automotive variable oil pump market through four different segments – fuel type, vehicle type, sales channel, and region. The report deliberates on product usage in various vehicle types, prevailing trends, and technologies. Moreover the study also offers inclusive supply chain analysis pertaining to product usage; procurement and pricing analysis has also been presented in this report.

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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.

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Two Wheeler Lead Acid Batteries Market to reach a valuation of more than US$ 7 Bn by the end of 2029 | Tianneng Battery Group Co., Ltd., GS Yuasa, and Chaowei Power Holdings Limited

Two wheeler batteries are installed in both, IC engine-propelled as well as in electric two wheelers, to operate the electric parts of the vehicle. In electric two wheelers, batteries are used to power the engine and transmission of the vehicle. Rising demand for two wheelers, including electric two wheelers, sports bikes, and cruiser bikes, is anticipated to create significant growth opportunities for two wheeler lead acid batteries through 2029.

According to a new research report published by Future Market Insights (FMI), the global two wheeler lead acid batteries market is estimated to exhibit a healthy 6% CAGR from 2019 to 2029, to reach a valuation of more than US$ 7 Bn by the end of 2029.

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Key Takeaways of Two Wheeler Lead Acid Batteries Market Study

South Asia and East Asia are anticipated to emerge as regions holding substantial market share in the coming years. Large existing fleet and high sales of two wheelers are anticipated to bolster growth in these regions.
The aftermarket segment is expected to grow at a considerable pace, owing to scheduled replacement of the current fleet, increasing use of two wheelers, and growing consumer preference for electric vehicles.
Key players are focusing on partnerships with local servicing stations, distributors, and automotive OEMs to promote their products.
Improving product quality by implementing innovative technologies in the manufacturing process and producing a wide category of products according to the specific demand of customers is vital for market players.
Entering into long-term contracts with end users can provide stability in revenue generation and growth opportunities for market participants.

“Maintenance cost for the battery and prolonged operational life are the key considerations while procuring two wheeler lead acid batteries. In a majority of cases, flooded batteries are replaced with VRLA batteries, owing to their maintenance-free operation and longer lifespan.”

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Two Wheeler Lead Acid Batteries Market: Competitive Landscape

The two wheeler lead acid batteries market is fragmented in nature, owing to the presence of several battery providers across the globe. Tianneng Battery Group Co., Ltd., GS Yuasa, and Chaowei Power Holdings Limited are considered to be the leading players in the two wheeler lead acid batteries market. A majority of market players are strengthening their sales network to improve in the aftermarket segment. They are also focusing on manufacturing durable products at competitive prices.

TWO WHEELER LEAD ACID BATTERIES MARKET TAXONOMY

The global two wheeler lead acid batteries market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.

capacity

Less than 5 AH
5 AH to 10 AH
10 AH to 20 AH
Above 20 AH

Technology

I.C. Engine
- Up to 150 CC
- 151 -300 CC
- 301 -500 CC
- Above 500 CC
Electric

Two Wheeler

Motorcycles
- Standard
- Cruisers
- Sports
- Mopeds
- Electric
Scooters
- Standard
- Maxi
- Enclosed
- Three-wheeled
- Electric

Battery Type

VRLA Batteries
Flooded

Sales Channel

OEMs
Aftermarket

Region

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

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Rising Traffic Congestion and High Cost of Gasoline Pushing Sales of Two Wheelers

Extensive use of two wheelers in developing countries such as India and China to tackle problems such as traffic congestion, poor condition of roads in rural areas, and high gasoline prices are all expected to fortify the growth of the two wheeler lead acid batteries market space.

More Valuable Insights on Two Wheeler Lead Acid Batteries Market

FMI’s research on the two wheeler lead acid batteries market is segmented into six major segments – capacity, technology, two wheeler, battery type, sales channel, and region. This extensive segmentation of the market helps readers evaluate the lucrative opportunities that are present and will appear over the coming years in the global two wheeler lead acid batteries market.

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Automotive Head-up Display Market : As per recently updated report by Future Market Insights (FMI), the automotive HUD market valuation is forecast to reach US$ 563 Mn by the end of 2021. The global automotive HUD market is expected to exhibit an impressive 11.5% y-o-y growth owing to high demand for modern safety system and increase in sales of electric vehicle.

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Mechanical Performance Tuning Components Market is projected to exhibit a moderate CAGR of around 4% over the period of 2019-2029 | Zf, Continental AG, Hitachi, Delphi, and Robert Bosch GmbH

The global automotive aftermarket industry is expected to witness a shift towards proprietary channels and partnerships, via e-Commerce platforms in particular. The automotive aftermarket scenario indicates that, currently, around half of the revenue comes from wear and tear parts, which include mechanical performance tuning components such as fuel pumps, fuel injectors, brake shoes, and suspension bushes. Steadily increasing fleet of passenger vehicles and aftermarket expansion activities by OEMs are expected to significantly contribute to the demand for mechanical performance tuning components across the globe.

Though the global automotive industry is witnessing fluctuating growth, the mechanical performance tuning components market is projected to exhibit a moderate CAGR of around 4% over the period of 2019-2029, to reach a valuation of US$ 260 Bn by the end of 2029, as per the latest report by FMI.

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Key Takeaways from Mechanical Performance Tuning Components Market Study

As per our findings, out of every 10 mechanical performance tuning components sold, 9 are more likely to be sold by small- or medium-sized players.
Demand for independent and authorized service providers changes regionally. For example, most consumers prefer authorized stations in North America, in stark contrast to the trend seen in the Middle East and Africa.
It has also been observed that, most car owners prefer authorized service stations until the end of the warranty period. After that, independent service stations are preferred by end users owing to reduced costs.
Awareness among customers about tuning services plays a key role in the mechanical performance tuning components market. Market participants are conducting technical training and product description sessions to boost awareness.
In a few countries, significant rise in the demand for used cars has also been observed among middle income people. Certain performance parts are more likely to get replaced at the time of purchase of a used car.
Driving enthusiasts prefer to upgrade their vehicles by consistently modifying them with better performance parts. High fitment rate observed, particularly in SUVs and luxury vehicles, strengthens the demand for mechanical performance tuning components.

“As customers are becoming more quality- and performance-conscious, spending on the maintenance of vehicles is increasing. Higher rate of vehicle ownership among younger age groups that prefer preventive maintenance over repairs will positively impact the mechanical performance tuning components market.”

Mechanical Performance Tuning Components Market: Competition Overview

The global mechanical performance tuning components market is highly fragmented, with the presence of a large number of small- and medium-sized players actively operating in the global market. Zf, Continental AG, Hitachi, Delphi, and Robert Bosch GmbH are identified as prominent players in the global mechanical performance tuning components market. Opening authorized centers and offering extended warranty at optimum price are key growth strategies being adopted by market participants.

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MECHANICAL PERFORMANCE TUNING COMPONENTS MARKET TAXONOMY

The global mechanical performance tuning components market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.

Product Type

Engine
- Engine Oil
- Oil Filters
- Cam Pulleys
- Engine Mounts
Transmission
- Transmission Belts
- Gear Oil
- Turbochargers
- Flywheels
- Pressure Plates
- Throttle Cables
- Transmission Oil Pumps
Fuel System
- Fuel Injectors
- Fuel Pumps
- Spark Plugs
- Glow Plugs
- Fuel Filters
- Air Filters
Brake
- Brake Oil
- Brake Liners
- Master Cylinders
- Brake Calipers
- Brake Shoes
Body & Suspension
- Sway Bars
- Shock Absorbers
- Suspension Bushes
Exhaust Mufflers

Vehicle

Passenger Vehicles
Light Commercial Vehicles
Heavy Commercial Vehicles

Distribution Channel

Authorised Service Stations
Independent Service Stations

Region

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

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Highly Lucrative Opportunities in Europe

The demand for mechanical performance tuning components is expected to gain significant traction in the coming years, owing to rising awareness about tuning services among vehicle owners and increasing instances of vehicle modification. Relatively higher preference for preventive or scheduled maintenance in Europe is projected to make the Europe performance parts market highly lucrative for investors.

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Automotive Hardware Market is projected to reach a market value in excess of US$ 100 Bn by 2029 end | Magna International Inc., Aisin Seiki Co Ltd, Mitsui Mining and Smelting Co Ltd, Nissin Kogyo Co Ltd

Escalating sales of commercial vehicles are identified to remain among the key factor bolstering sales of automotive hardware at a global level. The global automotive hardware market is projected to reach a market value in excess of US$ 100 Bn by 2029 end, with growth anticipated at a moderate CAGR during the forecast period (2019 – 2029). The rate of replacement of automotive hardware in heavy commercial vehicles (HCVs) has been on a higher side than passenger cars, which would drive automotive hardware sales in the following years, as suggested by a new Future Market Insights (FMI) study.

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Key Takeaways – Automotive Hardware Market Study

OEMs are majorly driving growth of the automotive hardware market.
High aftermarket fitment rate of automotive hardware and vehicle modification trend are also moderately contributing to the market growth.
As people are less brand-conscious at the time of replacement of majority of products such as door seals, mounting brackets, door straps, among others, independent players play key role in aftermarket replacement.
More than 40% of the revenue in automotive hardware market comes through sales of door latches and mounting brackets. High replacement rate of these products is fuelling market growth.

OEMs would remain the primary contributors to the global automotive hardware market. However, increasing rate of vehicle modification is also playing an important role, of late, in driving the aftermarket sales of automotive hardware.

Lucrative Growth Opportunities Abound in South East Asian Market

The demand for automotive hardware is expected to gain traction in South East Asia in the coming years, owing to higher automotive production. Increasing disposable income and growing middle class income group in this region are expected to fuel market growth. Countries including India, Indonesia, Thailand, and Malaysia to contribute to the growing market of automotive hardware in the region.

What Is Driving Competition in Automotive Hardware Market?

The global automotive hardware market is highly competitive, with the presence of large number of global and regional manufacturers. Key manufacturers such as Magna International Inc., Aisin Seiki Co Ltd, Mitsui Mining and Smelting Co Ltd, Nissin Kogyo Co Ltd, Dorman Products, and Gestamp Automocion account for very less share of the overall market. In the current scenario, Europe and East Asia are anticipated to account for more than half of the market value share of the global automotive hardware market, owing to higher automobile production in these regions.

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AUTOMOTIVE HARDWARE MARKET TAXONOMY

The global automotive hardware market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.

Product

Door Latches
Exterior Door Handles
Door Seals
Door Straps
Door Hinges
Mounting Brackets
Gas Springs
Fuel Flaps
Grab Handles
Shackles
Bonnet Support Rods
License Plates
Seat Belt Latches
Door Lock Buckles

Vehicle

Passenger Vehicles
- Compact Cars
- Mid-sized Cars
- Luxury Cars
- SUVs
Light Commercial Vehicles
Buses & Coaches
Trucks & Trailers

Sales Channel

OEM
Aftermarket

Region

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

Table Of Content

Executive Summary

1.1. Key Findings

1.2. Global Market Outlook

1.3. Global market Overview

1.4. Supply Side Trends

1.5. Demand Side Trends

1.6. FMI Analysis

Market Overview

2.1. Market Coverage/Taxonomy

2.2. Market Definition/Scope/Limitations

Key Success Factors

3.1. Promotional Strategies

Global Automotive Hardware Market Demand Analysis 2014-2018 and Forecast, 2019-2029

4.1. Historical Market Volume (Mn Units) Analysis, 2014-2018

4.2. Current and Future Market Volume (Mn Units) Projections, 2019-2029

4.3. Y-o-Y Growth Trend Analysis

Global Automotive Hardware Market – Pricing Analysis

5.1. Regional Pricing Analysis by Vehicle Type

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KEY HIGHLIGHTS

WHAT ARE THE FUTURE PROSPECTS OF THE AUTOMOTIVE HARDWARE MARKET?

By 2029, the global market for automotive hardware is poised to cross US$ 100 Bn, growing at a moderate CAGR over the forecast period 2019-2029. Growing investments in customization and downsizing of vehicles remains key growth influencer.

Which product of automotive hardware is significantly adding-value to market growth?

Door latch is witnessing a significant rise in demand, attributing to development of smart latches that are IoT-integrated. In addition, demand for gas springs is projected to register a significant CAGR over the forecast period.

Which type of vehicle will show the largest adoption of automotive hardware?

A significant increase in the demand for passenger vehicles will continue to positively impact the sales of automotive hardware through to 2029. Further, automotive hardware demand for trucks and trails is expected to witness moderate growth over the forecast period.

Will growing stringency of environmental regulations impact the automotive hardware market?

As the global focus on reducing carbon footprint and improving energy efficiency grows strong, automotive hardware manufacturers will need to redefine their strategies to align with environmental trends and regulations. Adoption of eco-friendlier raw materials will remain key to stay ahead of the curve.

Which region is expected to lead global sales of automotive hardware?

Europe is expected to hold the largest share of the automotive hardware market. Simultaneously, South Asia & Pacific is likely to be a lucrative market, with sales projected to grow at a CAGR of 6% through 2029.

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