Stevia Market is likely to grow at a CAGR of 7% through 2029, reaching US$ 573 Million

[200 Pages Report] The Stevia Market is valued at US$ 333 Million in 2021. The market is likely to grow at a CAGR of 7% through 2029, reaching US$ 573 Million.

Europe accounts for 50% share of stevia market globally.

The global stevia market is moderately competitive, with tier-1 companies accounting for 35% – 40% of market share.

  1. Europe is stipulated to account for ~ half of the revenue shares in the stevia market by the end of 2029.
    • Europe is estimated to continue to be the opportunistic market for stevia manufacturers and distributors, owing to increasing production and demand for natural sweeteners.
  2. While consumption in the beverage sector continue to account for greater sales of stevia, growing application in packaged food products is likely to result in increased market share.
    • Noteworthy application potential of stevia has been identified in soft drinks, juices, yogurts, confectionery, bakery and many more. Stevia is increasingly used by food manufacturers to develop low-sugar and low-calorie products, thereby creating an upswing in the market growth. Moreover, stevia is found in more than 1,400 food and beverage products.

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Stevia Market Outlook

The stevia market is anticipated to advance at a moderate growth during the forecast period 2019-2029. According to studies, stevia is about 200 times sweeter as compared to sugar. Moreover, it is a zero-calorie sweetener and does not have any harmful effects on the human body. As a result, a shift is witnessed among consumers, away from the artificial sweeteners to the natural sweeteners, which boasts a high potential to improve the size of the stevia market during the forecast period.

Growing demand for nutrition-rich products among consumers to lead a healthy lifestyle is expected to bring in favourable growth instances for the stevia market during the forecast period. This is on the back of the contents such as antioxidant compounds, caffeic acid, quercetin, flavonoids, and tannins.

Numerous health benefits that stevia provides have attracted the attention of manufacturers for the utilization of the product in yogurt, tea, and coffee. As the millennial populace is opting for low-calorie food and drinks, the demand for stevia is likely to be increased.

Besides being used in the preparation of go-to-drinks, stevia is ground and sprinkled on the cooked vegetables, salads, cereals, and meat to add a specific flavour to it. There are numerous ways in which stevia can be used. As a result, manufacturers operating in the stevia market are experimenting and discovering new ways to reduce the calorific content of the product without compromising on its taste.

During the COVID-19 crisis, the demand for stevia remained moderate, on account of the disruption in the distribution network. Stevia still lacks the desired popularity as compared to artificial sweeteners. As a result, it has low demand in the supermarkets, while online sales of the product are high. Post the COVID-19 effect, the stevia market could witness an additional uptick in its growth, as consumers are switching to healthy and natural options.

Key Factors Shaping the Stevia Market

Demand Upheld by Increasing Diabetic and Obese Population

The rising prevalence of diabetes and obesity is anticipated to serve as a major driver for the stevia market. According to the World Health Organization, in 2016, around 1.6 million deaths were caused directly due to diabetes, and it is the seventh leading cause of death across the world. Also, in 2016, more than 1.9 million adults were overweight, while 650 million of these adults were obese.

As the occurrence of diabetes and obesity is increasing, consumers are taking appropriate measures to maintain a healthy lifestyle, and thus, are looking for zero-calorie natural sweeteners to maintain their blood sugar levels. In consequence, the demand for stevia is estimated to increase, as it is aligned with the requirements of the consumers.

Key Segment

By Nature

  • Organic
  • Conventional

By Type

  • Liquid Extract
    • Clear
    • Dark
  • Powder Extract
    • Stevia Blends
    • Glycoside (40%-79%)
    • Glycoside (80% and above)
  • Stevia Leaves

By Application

  • Dairy Food Products
  • Bakery Products
  • Beverages
  • Packaged Food Products
  • Dietary Supplements
  • Confectionery Products
  • Snacks
  • Table Top Sweeteners
  • Others (Electrolyte Mixes and Medicinal Formulations)

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By Region

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

Cold Laser Therapy Market to expand at a CAGR of 4.4% between 2022 and 2031

The global Cold Laser Therapy Market totaled US$ 104.0 Mn in 2020. Demand outlook is expected to remain steady as the market is poised to expand at a CAGR of 4.4% between 2021 and 2031, as per Future Market Insights (FMI).

Sales in the Cold Laser Therapy Market is expected to top US$ 165.4 Mn by the end of 2031, according to the latest Future Market Insights (FMI) study. Growth in the market is attributed to the rising prevalence of chronic diseases, surging demand for non-invasive equipment, and increasing demand for cold laser therapy.

Increasing awareness about various benefits of cold laser therapy is encouraging the adoption of cold laser or low-level laser therapy devices. Application of cold laser therapy in pain relief, treatment of musculoskeletal conditions, and nerve regeneration is increasing the sales in the market. These devices are increasingly installed in home care settings to offer relief from pain or inflammation to patients.

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Due to increasing penetration of social media, people of all age groups are becoming overtly anxious about improving their appearance. Hence, the cold laser therapy market is rapidly growing owing to the growing interest in surgically improving appearance.

According to the World Health Organization (WHO), the global population of those above 65 years of age is expected to increase from nearly 1.0 billion in 2018 to around 2.1 billion by 2050 across the world.

With increasing demand from elder population as their skin is more prone to wrinkles, fine lines, flaccid skin, and other conditions, demand for cosmetic procedures is expected to surge.

Emerging nations such as India, China, Brazil, Russia, Mexico, and South Africa are offering ample of growth opportunities for cold laser therapy devices market. One of the major factor for increased growth is rising prevalence of chronic diseases in the countries.

Exhibiting high demand for cold laser therapy to treat chronic pains, developing nations are likely to emerge as hotspot for cold laser therapy devices manufacturers.

Increasing research and development activities for innovation of novel technology and implementation of favorable reimbursement schemes in most developed countries is another factor fueling sales.

As per the report, key manufacturers are strengthening their supply chains particularly in regions such as Asia Pacific, Latin America and Middle East & Africa. Agreements, partnerships, and collaborations have emerged as key growth strategies adopted by leading players to expand their regional expansion and product portfolio.

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For instance, in September, 2019, MedShift announced the 5-Year Strategic collaboration with BTL Aesthetics.  The partnership will boost the presence of Emsculpt® device, the first and only technology to non-invasively harness high-intensity electromagnetic energy to firm muscle for a more toned figure.

Key Takeaways from Cold Laser Therapy Market Study

  • In terms of product, continuous laser devices will account for the largest market share in 2021.
  • Single wavelength technology will hold the lion’s share in cold laser therapy market. The segment will account for more than 65% of total market share in 2021.
  • Application of cold laser therapy devices in dermatology will generate highest revenue. As per FMI, the application is expected to account for more than 35% of value share in 2021.
  • Specialty clinics are expected to be the primary end-users on the back on increasing demand for cold laser therapy for cosmetic procedures. The segment will contribute over 42% of market revenue in 2021.
  • North America is expected to account for dominant 40.0% in the global market in 2021, with the U.S. spearheading growth in the region.

 “Growing demand for aesthetic cosmetic procedures and preference for non-invasive equipment have encouraged the key players to invest more in research activities to develop advanced devices. This is expected to create growth opportunities for market players, especially in East and South Asia as demand for cosmetic procedure and pain management is at all-time high,” says the FMI Analyst

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Who is Winning?

Some of the leading manufacturers of cold laser therapy market are focusing on product launches,  collaborations, and expansion strategies to enhance their market presence. For instance,

  • In March 2021, Good Energies Ltd developed and sold the B-Cure Laser for pain relief and launched a new media campaign in collaboration with Guerillascope for creating awareness against chronic pain.
  • In November, 2020, DJO Global, Inc. announced the launch of 25W LightForce Xpi to allow clinicians to treat pain and inflammation and aid in post-activity recovery with greater accuracy, providing more consistent outcomes for patients.
  • In January 2020, BTL launched a new product BTL-6000 Traction Therapy for relieving patients from pain. The company strengthened its presence in the pain management market with this launch.
  • In May 2019, Theralase Technologies Inc. announced its plan to expand its photodynamic therapy technology (PDT) into China after receiving necessary regulatory approval from the country.
  • In May 2019, Erchonia Corporation announced the launch of Lunula Laser in the Korean market. It was a non-thermal and non-invasive device with low-level laser technology for foot fungus.
  • In January 2020, Lexington International, LLC announce the launch of its innovative product Flip 80 Laser Cap to treat pattern hair loss and stimulate hair growth

The key market players profiled by FMI include Apira Science Inc., BioLight Technologies LLC, B-Cure laser Australia, Erchonia Corporation, Theralase Inc., THOR Photomedicine Ltd, DJO Global, Inc., BTL, Spectro Analytic Irradia AB, Photomedex.

Car Security System Market is projected to expand at a robust 11.8% CAGR between 2021 and 2031

The car security market will register moderate growth in 2021 with worldwide demand up 5.4% year over year. As per Future Market Insights (FMI) analysis, car security system sales will grow, reaching nearly $7.6 billion in 2021 at a compound annual growth rate (CAGR) of 5.8%.

Some of the governments around the world have mandated the addition of car security system. This, coupled with increasing sales of new vehicles and economic cars in emerging economies will drive the market growth.

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Leading original equipment manufacturers and luxury automakers are installing advanced car security system like telematics linked with 5G connectivity and internet of things to stand out in the competition. This will positively influence the market growth.

According to a preliminary report from National Insurance Crime Bureau, in U.S. auto theft rose by 9.2% from 2019 to 2020 as 873,080 auto thefts were recorded in 2020 in comparison to 799,644 thefts in 2019. Rising awareness among car owners regarding importance of a good car security system coupled with increasing cases of car theft across the globe will fuel the demand for car security system.

Increasing demand for hassle free monitoring and tracking system with improved car security along with focus on reducing the cost of security system are encouraging the development of new security systems, thus boosting the market growth, states ESOMAR-certified Future Market Insights (FMI) in its recent analysis.

Establishment of mega factories in developing countries of Asia and Latin America will allow market players to capitalize on unexplored opportunities. Rising per capita income of middle class population and increasing production of budget cars will drive the market over the assessment period. Mid-range car segment is expected to hold more than 56.9% market share in 2021.

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Key Takeaways from FMI’s Car Security System Market Study

• North America market is expected to grow at 4.4% CAGR post pandemic on account of the increasing sales of automobiles and rising number of manufacturing units and trading routes in Canada and the U.S.
• Europe will follow North America in terms of growth, showcasing growth at 4.2% CAGR in 2021. The growth can be attributed to rise in living standards of middle class population leading to increasing sales of economic car, presence of leading original equipment manufacturers, and increasing cases of car theft in Germany, U.K. and other European countries.
• Rising demand for mid-size cars, increasing adoption of car security system due to rise in per capita income, and increasing sales of passenger vehicles are the key factors driving the market growth in India.
• Japan and South Korea will collectively account for around 9% of global market share in 2021. Presence of modern research and development facilities in these countries along with increasing demand of Japanese and Korean telematics across the globe will drive the market growth in upcoming years.
• Remote car locking system sales is gaining traction owing to its high reliability and compact size making it an ideal choice for small cars. The remote car locking system along with vehicle trackers and other sensors are expected to grow at over 6% CAGR during the assessment period.

“Increasing incidence of car theft is encouraging automakers to develop better security features. To offer greater safety against car theft, incorporation of telematics has emerged as a key solution. Besides this, focus on innovations will continue rising as market players aim for competitive advantage,” says the FMI analyst.

Competitive Landscape
Future Market Insights states that Continental AG, Valeo, Hella, Robert Bosch, and Tokai Rika are the leading market players operating in the car security system market. Top car manufacturers are looking to provide new end to end solutions and products while keeping the aftermarket confined to their authorized dealers.

For instance, continental AG is developing ultra-wideband (UWB) radio technology as a part of vehicle access solution in the car connectivity consortium (CCC). The new system is aimed to provide hand free operating system and elevate the anti-theft protection.

Market players are also looking to ride the bandwagon of growing adoption of telematics. For instance, ORBCOMM recently developed the next-gen ORBCOMM Platform which allows customers to track, monitor and control all their vehicles in one place – on the road, rail and at sea. For this ground breaking innovation, ORBCOMM won 2021 Internet of Things (IoT) breakthrough award for M2M Vehicle Telematics Company of the Year.

Car Security System Market by Category
By Car Type:
• Economic Cars
• Mid-Range Cars
• Premium Cars

By Product Type:
• Immobilizer system
• Remote Central Locking System
• Alarm System
• Other Systems

By Sales Channel:
• OEM
• Aftermarket

By Region:
• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific excluding Japan (APEJ)
• Japan
• Middle East and Africa (MEA)

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Prominent players operating in the car security system market are:-
• Valeo S.A.,
• Continental A.G.,
• Delphi Automotive PLC,
• Hella KGaA Hueck & Co.,
• Tokai Rika Co., Ltd.,
• Mitsubishi Electric Corporation,
• Denso Corporation,
• Robert Bosch GmbH,
• Lear Corporation,
• Omron Corporation.
• Nexen Tire America Inc.

Key Points Covered in Car Security System Market Study

• Market estimates and forecast 2015-2031
• Key drivers and restraints impacting market growth
• Segment-wise, Country-wise, and Region-wise Analysis
• Competition Mapping and Benchmarking
• Brand share and Market Share Analysis
• Key Product Innovations and Regulatory Climate
• COVID-19 Impact On Car Security System Market And How To Navigate
• Recommendation on Key Winning Strategies

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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GCC Functional Food Market Size (2021-2030)  Top Key Company Profiles – Almarai, Danone, AL Rawaby Dairy, Pinar, Anchor, Kraft Foods, IFFCO, Nestlé

According to the market report published by Future Market Insights titled “Functional Food Market: GCC Industry Analysis and Opportunity Assessment 2014-2020’, the revenue generated from functional food is estimated to be valued over US$ 4,894.8 Mn in 2014, which is projected to increase at a CAGR of 10.9% during the forecast period (2015-2020).

People have become more fitness and health conscious, and prefer to spend more on food or other products that promote or improve health for better future living conditions. Improved living standards have resulted in a rise in consumer spending on health- and fitness-related products. Consumers in the GCC countries have started becoming more interested in understanding the role of functional food and the part that it plays in preventing and reducing the impact of diseases. Therefore, more consumers are purchasing functional food & beverages, not only to treat health problems such as joint pain, bone health and general well-being, but also to prevent illnesses such as heart diseases and others.

Functional food products, which enhance health, are typically advocated as alternatives to traditional medication. However, one of the major challenges is the formulation of functional food in traditional food and beverages. Moreover, consumers are seeking more variety in functional food products apart from traditional options. These challenges have resulted in the introduction of innovative new functional food products to ensure ingredient viability and stability. The market for functional food is expected to witness high demand in specific countries such as the UAE and Kuwait. Healthcare spending in GCC is expected to increase at a double-digit growth rate between 2015 and 2020 due to the rising concerns about health and wellness, which is expected support the growth of functional food market in the region during the forecast period.

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Due to the preference for functional food, retail chains are coming up with new variants of functional food products especially in cereals and dairy products. Leading brands are continuously gaining traction by launching a wide range of functional food products, thus creating a long-term growth opportunity all over the region. Moreover, the growing cost of healthcare products has influenced consumers to adopt preventive measures. These factors are supporting the demand for functional foods in GCC countries.

In GCC functional food market by product type segment, the cereals, flakes & confectioneries segment accounted for relatively high value share of almost 41% in 2014 and is expected to remain dominant in terms of value during the forecast period. The segment is expected to register a CAGR of 12.1% by the end of 2020. Cereal bars, fortified pasta, noodles and corn/oat flakes are some of the key products in demand across the GCC countries.  On the basis of distribution channel, in GCC functional food market the hypermarket & A-class store segment accounted for the maximum value share of 39.6% in 2012. However, the consumer co-operatives and grocery stores segment is expected lose its popularity across the region. Overall, these distribution channels segment contributed 28.3% in 2012 and is expected to lose its share further in 2020 due to greater consumer preference towards hypermarkets & A-class stores. On the basis of region in GCC functional food market, KSA is expected to register a revenue share of 48.3% in 2014. Kuwait and Qatar are among the most lucrative markets for functional food in terms of revenue as compared to other GCC countries.

Key Players in GCC Functional Food Market

Detailed profiles of companies are also included in the GCC functional food market report to evaluate their strategies, key product offerings and recent developments. Some of the key players profiled in the  functional food market study include Almarai, Danone, AL Rawaby Dairy, Pinar, Anchor, Kraft Foods, IFFCO, Nestlé, Oman Flour Mills Company, The Modern Flour Mills and Macaroni Factories, Al Ghurair Foods, Alyasra Foods, AL Jazira Poultry Farm LLC NEZO, ZAD INDUSTRIES & TRADING CO and Savola Foods. To increase their sales in GCC functional food market, major players based in the region are focusing on generating awareness and launching new product variants.

Key Segment

On the basis of product type

  • functional dairy products
  • cereals, flakes & confectioneries
  • iodised salt
  • fortified eggs
  • fish & meat
  • oil & margarine

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By distribution channel

  • hypermarkets/A-class stores
  • self-service & B-class chains
  • consumer cooperative & groceries
  • others

Aircraft Cabin Interior Market Expected to Behold a CAGR of 2.7% through 2021-2031

As indicated by ESOMAR-ensured Future Market Insights’ (FMI), the Aircraft Cabin Interior Market is relied upon to extend at 2.70% CAGR all through the estimate time frame 2021-2031. The market is exceptionally cutthroat with United Technologies Corporation, Safran S.A., Diehl Stiftung and Co. KG, HAECO Group, Honeywell International, Inc., and Panasonic Avionics Corporation enveloping around half of worldwide portions of the overall industry.

As indicated by International Civil Aviation Organization, joining of minimal expense transporter airplanes in air transport area has essentially impacted the Aircraft Cabin Interior Market. Flourishing the travel industry area, expansion in air traffic, and developing flight emphasis are factors driving the market development.

Flood in new airplane orders and rising prevalence of in-flight theater setup and tasteful lighting framework will multiply the market interest in forthcoming years. Aircraft Cabin Interior Market is expected to develop at a sound speed attributable to expanding interest for custom, extravagant, and agreeable lodge insides with agreeable and brilliant seating frameworks.

Foundation of airplane fabricating offices and related exercises in arising economies will set out rewarding development freedom in the worldwide Aircraft Cabin Interior Market during the conjecture time frame.

Coronavirus pandemic hampered the aeronautics business because of inconvenience of lockdown and suspension of homegrown and worldwide trips across the globe. Expansion in generally weight of airplane, tough wellbeing guidelines and nonappearance of beneficial aircraft administrations in arising organizations are impeding the market development.

Key Points from FMI’s Aircraft lodge inside Market Study

  • Quick creation of business airplanes and presence of driving business sector players in U.S. alongside expanding unfamiliar direct interest in flying industry will look good for the Aircraft Cabin Interior Market development in U.S.
  • Auto airplane lodge inside is relied upon to develop at a sound rate in Russia inferable from expanding conveyance of unfamiliar airplanes and rising interest for support, and redesiging of different parts in such airplanes.
  • Improvement of tight body airplanes by China alongside foundation of creation focuses in the country because of modest work and bounty of assets will help the Aircraft Cabin Interior Market development
  • Developing government drives and rising per capita pay of individuals will advance reception of air transport, consequently driving the Aircraft Cabin Interior Market development in India.
  • Fast modernization in airplane parts and insides, retrofitting of inside lodges, and expanding interest for support, redesign and fix of airplanes utilizing new materials will help the airplane cookroom market development.
  • Expanding request of business airplanes, developing buyer tendency towards air travel to save time and developing pattern of redone inside are further speed up the development of the airplane lodge inside reseller’s exchange appropriation channel.

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Automotive Wires and Cable Materials Market – Future Scenario, Key Insights, Top Companies 2026

Global automotive wire and cable materials market revenues will grow by 7.3% in 2016, reaching nearly US$ 4 billion in revenues. Growth will be supported by increasing emphasis on safety and vehicle maintenance, as well as increasing installation of infotainment and navigation systems. Steady automotive sales will continue to serve the market well, especially in Asia Pacific, where China and India will witness heightened demand.

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While growth of the automotive wire and cable materials market will remain stable over 2016, emerging trends will continue to play an important role in shaping up the market. Innovations in connected and hybrid vehicles and substitution of copper with aluminium are expected to influence manufacturing process in 2016 and beyond.

Polyvinyl chloride (PVC) will continue to be the most sought-after material for manufacturing automotive wires and cables. This segment will witness a year-over-year growth of 5.6% and reach US$ 1.9 Bn in revenues in 2016. Polypropylene (PP), the second-largest segment by material type, will witness a growth rate of 6.8% in 2016.

While passenger cars will remain the largest segment in terms of vehicle type, development of rapid transit routes and increasing adoption of hybrid power trains will create opportunities in the light commercial and heavy commercial vehicles segment. Light commercial vehicles segment is anticipated to grow by 4.7% in 2016 over 2015 to reach US$ 0.7 Bn in revenues.

Asia Pacific excluding Japan (APEJ) is the largest market for automotive wire and cable materials and the status quo will remain so in 2016 and beyond. Growth of the automotive wire and cable materials market in APEJ will be supported by the resurgent automotive sector in the region. Increasing emphasis on safety and functionality and implementation of vehicle safety regulations will influence demand positively. The APEJ automotive wire and cable materials market will grow by 6.2 % in 2016 to reach US$ 2.1 Bn in revenues. North America and Western Europe, the other key markets for automotive wire and cable materials will also witness significant growth in 2016.

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Key Players

Major players identified in the market are Sumitomo Electric Industries, Delphi Automotive PLC, Draka Holdings BV, Leoni AG, Lear Corporation, Coficab Group, Yazaki Corporation, Allied Wire & Cable Inc. and Acome.

Leoni AG, Coficab Tunisie SA and Sumitomo Corporation are the top 3 players in the global automotive wire and cable materials market. These 3 players collectively accounted for 46.2% revenue share of the market in 2015. In addition to these marquee players, Delphi Automotive PLC, Draka Holdings B.V., Lear Corporation, Coroplast Fritz Muller GmbH & C. KG, Yazaki Corporation and Allied Wire and Cable Inc. etc. are the other leading players in this market.

Key Segments Covered

By Vehicle Type

  • Passenger Vehicles
    • Compact Cars
    • Sub-compact Cars
    • Mid-size Cars
    • Sedan
    • Luxury Cars
    • Vans
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles

By Material Type

  • Polyvinyl Chloride (PVC)
  • Polypropylene (PP)
  • Cross-linked Polyethylene (XLPE)
  • Thermoplastic Polyurethane (TPU)
  • Polyphenylene Ether (PPE)
  • Others (Fluoropolymers, Polyurethane, Neoprene, Ethylene Propylene Rubber and Co-polyester Elastomer)

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By Region

  • North Americas
  • Latin America
  • Asia Pacific excluding Japan (APEJ)
  • Japan
  • Western Europe
  • Eastern Europe
  • Middle East & Africa (MEA)

Long-term Outlook: The global automotive wire and cable materials market is expected to increase at a CAGR of 6.3% during the forecast period 2016-2026 and reach US$ 3.9 Bn in revenues in 2016. APEJ will continue to be the largest market throughout the forecast period.

About Future Market Insights (FMI)

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

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Future Market Insights,
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For Media Enquiries: press@futuremarketinsights.com
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Replacement Sheet Market Size 2022 Global Key Findings, Industry Demand, Regional Analysis, Key Players Profiles, Future Prospects and Forecasts to 2031

Demand for replacement sheets is slated to grow at 4.5% CAGR in 2021, finds Future Market Insights  (FMI) in a recent market analysis. Owing to high demand for advanced devices and affordable products in the healthcare sector, the market is projected to reach US$ 117.0 Mn in 2021.

In addition to this, the slide sheet segment is projected to account for 40% of the total replacement sheets market share, while sales of turn sheets are anticipated to continue rising over the forecast period.

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Sales of replacement sheets stagnated to an extent due to the lockdown restrictions imposed to contain the novel COVID-19 outbreak. However, with a persistent rise in medical procedures related to COVID-19 and other disorders, demand for replacement sheets grew at a 4.3% CAGR in 2020.

Expedited vaccine drives, resumption of production and logistics, and growing preference for retail through online channels are anticipated to positively shape the sales outlook for replacement sheets over the assessment period.

Replacement sheet based patient transfer is one of the crucial methods to change/move patient’s position within healthcare settings. Usage of these sheets ensure that the patient transfer is easy and safer. Moreover, it is the most comfortable method of patient handling for healthcare professionals and the patient.

The geriatric population is most likely to undergo old-age mobility disorders. For example, as per the World Economic Forum, Japan has the title for having around 29% of the largest geriatric population over 65 years out of the total population in mid-2020.

Key players operating in the replacement sheets market are investing in research and development top launch products with different technologies. This is indicative of the emergence safe and high-quality products that would minimize patient’s complications, resulting in lucrative growth prospects for regional and global market players.

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“Government initiatives adopted to improve the healthcare infrastructure in developing economies, coupled with rising demand for affordable and safer patient repositioning equipment will continue providing tailwinds to replacement sheets sales over the forecast period,” says the FMI analyst. 

Key Takeaways from Market Study

  • The turn sheet segment is expected to gain 1.6X revenue in the market by 2031.
  • Based on end-users, the hospital segment accounted for more than 28% of the market share in 2020.
  • The U.S. is projected to dominate the North America replacement sheets market, capturing 81% of the total market share in 2021.
  • Replacement sheets market in Germany is anticipated to expand at a 5.3% CAGR over the forecast period.
  • The U.K. is expected to emerge as a lucrative market, growing at a 4.3% CAGR through 2031.
  • China will remain an attractive pocket, commanding over nearly half of the East Asia replacement sheets market share in 2021.
  • Sales of replacement sheets in Japan are projected to grow at a 4.0% CAGR, while South Korea holds 19.0% of the East Asia market share currently.

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Competitive Landscape

To gain a competitive edge in the global replacement sheets market,  key market players are investing in strategic collaborations, mergers, and acquisitions. Apart from this, players are focusing on new product developments  to deliver safer and convenient options to ensure patient’s comfortability and safety in both existing and new markets. For instance:

  • Etac, in July 2019, acquired a 70% stake in the US Company, HoverTech International, to strengthen its position in the patient handling segment in the US market.

Automotive Lead Acid Battery Market by Technology, Application & Geography – Analysis & Forecast to 2031 | CAGR of 3.3% | Says FMI

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

Key Questions Answered in Report

  • Which is the most lucrative market for automotive lead acid batteries?

The U.S. currently leads the global market for automotive lead acid battery. The share of the U.S. market will be over 25% over the forecast period.

  • Which is the top-selling type of automotive lead acid batteries?

Flooded lead acid batteries are preferred for many applications. Demand for flooded lead acid batteries is expected to be high in the near future, especially for their low-maintenance cost.

  • Which is the most lucrative application for automotive lead acid batteries?

Automotive lead acid batteries are widely used in automotive industry related applications. Usage in starting, lighting and ignition (SLI) and electric vehicle applications is rising day by day.

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

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.

North America Variable Frequency Drive Market 2017 Outlook, Current and Future Industry Landscape Analysis 2027

The North America variable frequency drive market is projected to reach US$ 7.79 Bn in revenues by 2027, according to a new research by Future Market Insights. In terms of volume, 6.25 million units of variable frequency drivers are expected to be sold in North America in 2017. The U.S. will continue to dominate sales, accounting for nearly 78% revenue share of the market.

According to Future Market Insights, the key factors fuelling the growth of the market include,

  • Increasing emphasis on energy efficiency: Process engineers are adopting energy-saving devices to reduce operational expenses. For example, in 2015, Len Busch Roses, one of the largest nurseries for cut-stem flowers, deployed variable frequency drive to regulate airflow in snapdragon greenhouse with better precision.
  • Introduction of general purpose variable frequency drives that are compatible with existing motors is reducing impediments to widespread adoption.
  • Variable frequency drives are being employed in a wide range of end-use applications. Installation of variable frequency drives, along with a flow metre, results in energy savings.

Although Future Market Insights maintains a positive outlook on the North America variable frequency drives market, few challenges can restrain growth. These include technical anomalies associated with variable frequency drives and high initial costs of medium voltage variable frequency drives.

U.S. variable frequency drive market revenue is anticipated to expand at a moderate CAGR over the period 2017–2027Variable frequency drive sales value and volume consumption in the U.S. is projected to expand at the highest CAGR over the forecast period. In 2016, the U.S. variable frequency drive market was valued at more than US$ 3,300 Mn and has been estimated to increase to a little more than US$ 3,500 Mn by 2017 end, reflecting a Y-o-Y growth rate of 5.9%.

The U.S. country market is anticipated to create incremental dollar opportunity of close to US$ 3,000 Mn between 2016 and 2027 in the North America variable frequency drive market. In terms of market value, the Canada variable frequency drive market was valued at US$ 911.8 Mn in 2016 and has been estimated to increase to more than US$ 950 Mn by 2017 end, reflecting a Y-o-Y growth rate of 5.2%.

Revenue contribution from the variable frequency drive market in Canada is expected to increase at a CAGR of 4.8% over the forecast period. The Canada market is anticipated to create incremental dollar opportunity of more than US$ 600 Mn between 2016 and 2027 in the North America variable frequency drive market.

north america variable frequency drive market

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AC Drive Most Sought-After 

By drive type, Future Market Insights has segmented the market into AC drive, DC drive, and Servo drive. Among these, AC drives remain the sought-after device, accounting for nearly 72% revenue share of the market in 2016. While 4.20 million units of AC drives were sold in North America in 2016, collective sales of DC drives and servo drives accounted for 1.64 million units.

Low Voltage Range Drives in Demand 

By voltage range, Future Market Insights offers market forecast and analysis on low voltage range and medium voltage range. End-users in North America prefer low voltage range variable frequency drives, with this segment accounting for over 80% revenue share in 2016.

Low Demand for Regenerative Variable Frequency Drives 

By application type, Future Market Insights has segmented the variable frequency drive market into standard and regenerative. Demand for standard variable frequency drives is higher than regenerative variable frequency drives. The former accounted for over 88% revenue share of the market in 2016.

The key end-use application segments of variable frequency drives are,

  • Pump
  • Fan
  • Compressor
  • Conveyor
  • HVAC
  • Other applications

Pumps Largest End-use Application Segment 

According to Future Market Insights, pumps are the largest end-use application segment, accounting for nearly 35% revenue share of the market in 2016. In 2016, demand for variable frequency drives from this segment was 1.90 billion units.

Oil & Gas Largest End-use Industry 

By end-use industry, Future Market Insights offers market forecast and analysis on oil & gas, food processing, automotive, mining & metals, pulp & papers, and ‘others’. The oil & gas segment accounted for 44% revenue share of the market in 2016. Future Market Insights projects it to remain the largest end-use industry for variable frequency drives during the period 2017-2027.

Key companies profiled by Future Market Insights in its report include Fuji Electric Co. Ltd., Mitsubishi Electric Corporation, Siemens AG, ABB Ltd., American Electric Technologies Inc., General Electric Company, Hitachi Limited, Honeywell International Inc., Rockwell Automation Inc., Johnson Controls, Inc., Emerson Industrial Automation, Toshiba International Corporation, and Schneider Electric SE.

Market SegmentationBy Country

  • U.S.
  • Canada

By Drive Type

  • AC Drive
  • DC Drive
  • Servo Drive

By Voltage Range

  • Low Voltage Range
  • Medium Voltage Range

By Application Type

  • Standard
  • Regenerative

By End-Use Application

  • Pump
  • Fan
  • Compressor
  • Conveyor
  • HVAC
  • Others

By End-Use Industry

  • Oil & Gas
  • Food Processing
  • Automotive
  • Mining & Metals
  • Pulp and Papers
  • Other

Off-Highway Vehicle (OHV) Telematics Market Report Covers Detailed Industry Scope, Future Scenario and Elaborates Outlook to 2031

ESOMAR-certified consulting firm Future Market Insights’ report, projects the global OHV telematics market to record growth at 15.40% CAGR over the forecast period of 2021 and 2031.

Growing demand from construction industry is accelerating OHV telematics sales across the globe. Demand for OHV telematics is rising extensively in emerging economies as are becoming more aware for the vehicle safety.

Increasing application within rental equipment companies, mining industry and for safety & security of vehicles will continue creating sales opportunities. As per the FMI’s analysis, despite the slight setback due to the pandemic, the global OHV telematics market registered the Y-o-Y growth at 14.50% CAGR during 2020-2021.

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Steady recovery in automotive industry and recommencement of automotive production & manufacturing companies across the globe have improved the market growth.

Government increasing funding and initiatives towards the safety of vehicles have compelled the manufacturers to increase the adoption of telematics within the off highway vehicles.

Stringent regulations for the vehicle safety across the U.S., Germany, India, China and the U.K. is also expected to improve the adoption of OHV telematics over the coming years.

According to the FMI’s analysis, the global OHV telematics market reached a valuation of US$ 424 Mn in 2021.

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Key Takeaways from FMI’s OHV Telematics Market Study

  • By end-use application type, construction segment will emerge as primary OHV telematics end-user, accounting for 64.4% market share.
  • In terms of sales channel, original equipment manufacturers are the most preferred over the aftermarket service providers, exhibiting growth at over 11.4% CAGR
  • In terms of technology type, cellular technology will cement its dominance during the forecast period, expanding at 11% CAGR
  • The U.S. will emerge as the leading market across North America backed by the high demand within the construction industry
  • Japan and South Korea will collectively account for over 6% of global market share over the forecast period
  • Germany and the U.K. are anticipated to lead the Europe’s OHV telematics market, exhibiting the growth at 10.20% CAGR
  • Increasing application in precision farming will bolster the demand of off-highway vehicle telematics across India through 2021

“Growing consumer preference for advanced telematics technology in off-highway vehicles for usage in construction, mining and agriculture equipment has bolstered the adoption of telematics, generating lucrative prospects for market players,” says the FMI analyst. 

Competitive Landscape

TomTom International, Harman International, ORBCOMM Inc., Topcon Corporation, MiX Telematics, Navman Wireless, Omnitracs LLC, Wacker Neuson, Trackunit A/S and Zonar Systems Inc. among others are some prominent players operating in the OHV telematics market.

As per the FMI’s analysis, the market is dominated with top 5 players operating in OHV telematics market, accounting for 25% of market share. Top 5 players include, TomTom International, Harman International, MiX Telematics, ORBCOMM Inc., and Omnitracs.

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OHV Telematics Market by Category

By Sales Channel:

  • Original Equipment Manufacturers (OEMs)
  • Aftermarket

By Technology Type:

  • Cellular
  • Satellite

By End-Use Application:

  • Construction
    • Cranes
    • Dozers
    • Dump Trucks
    • Excavators
    • Loaders
    • Others
  • Agriculture
    • Harvesters
    • Tractors
  • Mining
    • Surface Mining Machinery
    • Underground Mining Machinery

By Region:

  • North America
  • Latin America
  • Eastern Europe
  • Western Europe
  • Asia Pacific excluding Japan
  • Japan
  • Middle East and Africa (MEA)

Key Points Covered in OHV telematics Market Study

  • Market estimates and forecast 2021-2031
  • Key drivers and restraints impacting market growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on OHV Telematics Market and How to Navigate
  • Recommendation on Key Winning Strategies

Top Reports Related To Automotive Market Insights

Automotive Repair & Maintenance Services Market : Global automotive repair & maintenance services market is forecast to reach a US$ 544.5 Bn in 2021, with a stable long-term projection, as per the latest insights from Future Market Insights (FMI), an ESOMAR-certified research and consulting firm.

Automotive Glass Market : The global demand for automotive glass has declined significantly in 2020, with the Covid-19 pandemic restricting automotive production and reducing new orders in the manufacturing sector. However, long-term prospects remain bullish, with a new report by FMI projecting 4% CAGR through 2030. The report opines that market players will benefit from smart glass technology and the rising popularity of electric vehicles.

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.