Golf Cart Market is estimated to be valued US$ 2.59 Bn in 2021, expanding at a CAGR of ~4.3% during the forecast period

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

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

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

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

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

Global golf cart Market by Category
Product Type
• Push-Pull Golf Cart
• Gasoline Golf Cart
• Electric Golf Cart
• Solar Powered Golf Cart

Operation
• Manual
• Powered

Application
• Golf Courses
• Personal Use
• Industry Use
• Others

Ownership
• Rented
• Fully Owned

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

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

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Top Reports Related To Automotive Market Insights
Automotive Interior Leather Market : Globalization of the automobile industry and rising demand for automotive interior customization are expected to remain chief driving factors of the global automotive interior leather market. According to Future Market Insights (FMI), the global automotive interior leather market is estimated to be valued at ~US$ 29.9 Bn in 2021.

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.

Contact
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Realtime Bioprocess Raman Market to expected to exhibit a CAGR of 14.6% during the forecast period (2020-2030)

The benefits of Raman spectroscopy as data processing in real-time has made significant contribution as a diagnostic and control tool for pharmaceutical production and bioprocessing, with scientific and financial benefits demonstrated throughout the product life cycle. This has led to the growth of real-time bioprocess Raman analyzers market. Future Market Insights (FMI) in a new study has forecast real-time bioprocess raman analyzers market to expected to exhibit a CAGR of 14.6% during the forecast period (2020-2030).

In its new study, ESOMAR-certified market research and consulting firm Future Market Insights offers insights about key factors driving demand for real-time bioprocess Raman Analyzers. The report tracks global sales of real-time bioprocess raman analyzers in 15 high-growth markets, where major traction is being witnessed in North America, followed by Europe. 

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Leading market players are focusing on mergers and acquisitions with biopharmaceutical industries and contract manufacturing organizations (CMO). This would help them expand their global footprint. Among end-use segments, contract manufacturing organizations are leading the market, which is then followed by biopharmaceutical companies. Contract manufacturing organizations are anticipated to grow at a CAGR of around 15.9% over the forecast period.

Increasing biopharmaceutical production and reduced cost benefits are expected to fuel Real-time bioprocess Raman Analyzers market growth in the coming decade. The digital transformation for data processing in real-time rising investments into R&D and initiative by regulatory bodies to improvise the development and approval process of biopharmaceutical products and fast track the process is has led to the real-time bioprocess Raman Analyzers market growth.

Real-time bioprocess raman analyzers are devices that incorporate Raman spectroscopy as a vibration / optical spectroscopy procedure that provides chemical and physical “molecular fingerprints” for the sample. Raman spectroscopy enables a complete understanding of bioprocess and real-time control of nutrients and metabolites. Raman spectroscopy has a wide range of features due to new technological advances, simple methods of data analysis models, and other Real-time Bioprocess Raman Analyzer applications.

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However, there are few challenges in the real-time bioprocess raman analyzers market like the availability of a skilled workforce which is acting as a restraint in the growth of the market. Lack of information about the product leading to lesser adoption of the Real-time bioprocess Raman Analyzers is acting as a restraint for the market growth.

Key Takeaways from Real-time bioprocess Raman Analyzers Market Study

  • The global Real-time bioprocess Raman Analyzers market is estimated to surpass US$ 8.7 Mn by 2021
  • The U,S, will emerge as dominant market in North America, accounting for over 95% of the overall sales
  • The U.K. will exhibit growth at a positive pace. According to FMI, it is expected to register nearly 20% Y-o-Y growth in 2021
  • Both Germany and France are expected to emerge as attractive markets for realtime bioprocess raman analyzer in Europe
  • Within East Asia, China will account for higher share of proceeds gained by the market

“Increasing research and development activities are expected to boost the growth for Real-time bioprocess Raman Analyzers Market. On the other hand, there is a rising demand for quality healthcare and pharmaceuticals. This has been creating significant growth opportunities for key players” says the FMI Analyst  

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Competitive Landscape

The global market is set to broaden its scope in the forecast period, driven by the increasing adoption rate of real-time and automated solutions during bioprocessing, advancements in technology, and reduced cost in manufacturing of biopharmaceuticals. However, lack of a skilled workforce and inadequate information about the benefits has constrained the sales of Real-time bioprocess Raman Analyzers.

Some of the key players operating in the market are Kaiser Optical Systems (Endress+Hauser), Resolution Spectra Systems Inc. (Merck KGaA), Tornado Spectral Systems, and Sartorius AG. Leading companies are consolidating their positions through mergers, acquisitions, and collaborations.

About Future Market Insights (FMI)

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

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Automotive Repair and Maintenance Services Market Trends, Growth, Future Demand, Analysis and Forecast by 2026

According to a new report published by Future Market Insights titled “Automotive Repair and Maintenance Services Market: Global Industry Analysis & Opportunity Assessment, 2016 – 2026”, the global automotive repair and maintenance services market is estimated to reach a market valuation of US$ 441.3 Bn by 2016 end, witnessing a 5.6% CAGR between 2016 and 2026. Automobile dealership owners will continue to hold dominant share in the global automotive repair and maintenance services market accounting for over 25% share of the total market by the end of 2016.

Demand for automotive repair and maintenance services is driven by the increase in vehicle age. With the improvements in material and technology used for automotive manufacturing, the mean age of passenger cars in the U.S. increased from 9 years in 2000 to 11.6 years in 2015. With the rising vehicle sales in the U.S. and Western Europe, the demand for automotive repair and maintenance services is expected to rise exponentially. Also, a reduction in gas and oil prices has led to an increase in the total miles driven by vehicle owners and this being related to vehicle parts wear and tear, there is a growing need for vehicle maintenance and repairs – this is another factor driving the growth of the global automotive repair and maintenance services market.

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Segmentation analysis

Future Market Insights’ report on the global automotive repair and maintenance services market offers useful insights on market performance of the various segments of the global automotive repair and maintenance services market. Some of the highlights of our research reveal the following vital points:

  • Demand for various services and parts in the automotive aftermarket such as tires, engine oil, and wear and tear parts will continue to gain traction in the coming years
  • The tires segment is forecast to register a CAGR of 7.9% during 2016 – 2026
  • The wear and tear parts and engine oil services and parts segments are expected to represent 14.1% and 8.6% shares of the total incremental opportunity in the coming decade
  • The automobile dealerships service provider segment is anticipated to be valued in excess of US$ 100 Bn by this year end, witnessing a CAGR of 4% during the forecasted period
  • The passenger cars vehicle type segment was the maximum value generating segment in terms of vehicle type in 2015 and is projected to gain significant market share over the forecast period. This segment is anticipated to gain 200 BPS between 2016 and 2026 due to higher sales of passenger cars in the coming years

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How have we segmented the market?

To understand and assess opportunities in the global automotive repair and maintenance services market, we have divided the report into four sections based on market segmentation as under:

By Services and Parts

  • Engine Oil
  • Gear Oil
  • Brake Oil
  • Grease
  • Tires
  • Batteries
  • Wear and Tear Parts
  • Air Filter
  • Cabin Filter
  • Oil Filter
  • Wiper Blades
  • Collision Body
  • Starters and Alternators
  • Lighting
  • Exhaust Components
  • Spark Plugs

By Service Provider

  • Automobile Dealerships
  • Franchise General Repairs
  • Specialty Shops
  • Locally Owned Repair Shops/Body Shops
  • Tire Shops
  • Others

By Vehicle Type

  • Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles

Regional analysis

North America is the largest market for automotive repair and maintenance services accounting for over 26% market share in terms of revenue in the global automotive repair and maintenance services market by the end of 2016. The APEJ automotive repair and maintenance services market is projected to hold significant market share in terms of value in the global automotive repair and maintenance services market over the forecast period, exhibiting a CAGR of 8.6% over the forecast period. This is attributed to increasing vehicle parc in this region and an under developed road infrastructure in many countries of APEJ.

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Vendor insights

The global automotive repair and maintenance services market report analyses the business performance including short-term and long-term strategies, service offerings, and other developments of a few of the top market players operating in the global automotive repair and maintenance services market. The companies profiled in the report are Asbury Automotive Group Inc., Jiffy Lubes International Inc., Monro Muffler Brake Inc., Driven Brands Inc., and Belron International Ltd. Mergers and acquisitions seems to be the most preferred strategy adopted by several market players to expand their global presence and increase market share.

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.

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).

Antibiotics Active Pharmaceutical Ingredient (API) Market demand to grow at 3.1% CAGR through 2030

The demand for antibiotics API will continue rising at a steady pace between 2021 and 2031. It is often the first choice to treat infections. According to a new study by Future Market Insights (FMI), the Antibiotics API Market is likely to surpass US$ 8.1 Bn in 2021. Antibiotics are intended to make medical procedures much safer.

Any surgery or chronic diseases is susceptible to the bacterial infection, putting the patient at the greater risk. The increasing incidence of infections such as tuberculosis, pneumonia, blood poisoning, gonorrhea, and foodborne diseases would cause surge demand for antibiotics that expects to drive the antibiotics API market.

As per the World Health Organization (WHO), pneumonia caused by bacteria can be treated with antibiotics. Around 15% of the children deaths was accounted due to pneumonia in 2017. According to UNICEF data 2018, worldwide, there are around 1,400 cases of pneumonia per 100,000 children, with the greatest incidence occurring in South Asia (2,500 cases per 100,000 children) and West and Central Africa (1,620 cases per 100,000 children)

Pandemic COVID-19 is believed to have a negative impact on the antibiotics API market. Some of the leading biotech companies, research institutes, and pharmaceutical companies are appointed in collaboration work to deal with the situation. This has shifted their focus and resources from making other drugs to coronavirus vaccines. The shortage of various API’s, and restricted hospital visits due to the increasing pool of COVID-19 patients have jolted the global antibiotics API market.

In terms of API, penicillin antibiotics segment dominated the antibiotics API market with a market share of 51.1% in 2021 owing to the increasing demand and adoption of penicillin as a first-line antibiotic therapy to treat several bacterial infections. Pharmaceutical companies are expected to rule the end user segment. They are expected to hold over 77% of the market and remain dominant through the forecast period.

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Key Takeaways from Antibiotics API Market Study

  • The global antibiotics API market is estimated to be US$ 8.01 Bn in 2020, with the market expected to exhibit a CAGR of 3.1% during the forecast period (2020-2030)
  • The U.S. holds over 92.1% share of the North America market, but Canada is projected to expand faster CAGR
  • The U.K. market will showcase steady y-o-y growth at 2.1% in 2021
  • The demand from Germany and France will rise at a positive rate through the forecast period
  • Within East Asia China will emerge as a key market, while Japan and South Korea will continue exhibiting steady demand

“Increasing prevalence of bacterial diseases, extreme use of antibiotics and rising investment in R&D are expected to boost the growth of the antibiotics API market.” says the FMI Analyst

Rising investment in R&D sector in order to develop advanced molecules is the major factor expected to boost the antibiotic API market growth.

For instance, Sandoz, the Novartis biosimilars and generics division, undergoes a joint investment, with the Austrian federal government, to enhance the long-term future of integrated antibiotics manufacturing in Europe.

Key players in the Antibiotics API are Entering into Strategic Alliance

The top players are focusing on increasing acquisitions at regional levels. Acquisitions empower the company with products and increase the company’s portfolio. The company acquires to possess well-established products and solutions that expects to account good revenue source for the acquirer. This also enables the company to enter new emerging markets as well as enhance the existing markets.

For instance, in August 2019, Nanjing Dorra Pharmaceutical Technology collaborated with Meitheal Pharmaceuticals, the fully integrated generic injectables company, for elevating the manufacturing capacity of the active pharmaceutical ingredients in the region of U.S. The collaboration enabled Meitheal Pharmaceuticals to invest into the Nanjing Dorra Pharmaceutical Technology.

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Who is Winning?

The global antibiotics API market is set to expand its scope in the forecast period, as a result of rising prevalence of various bacterial diseases, and growing investment in R&D. The antibiotics market is highly competitive and consists of several major players. Pharmaceutical companies are more focused towards outsourcing of antibiotics API manufacturing due to the involvement of high capital investment in the establishment of Antibiotics API manufacturing units.

The key market players covered by FMI include Sandoz International GmbH, Centrient Pharmaceuticals, CordenPharma International, ACS DOBFAR SPA, Nanjing Dorra Pharmaceutical Technology Co. Ltd., DAEWOONG PHARMACEUTICAL CO. LTD., Parabolic Drugs Ltd., Penam Laboratories Ltd., ASIATIC DRUGS & PHARMACEUTICALS PVT. LTD., Fresenius Kabi, The United Laboratories International Holdings Limited, Aurobindo Pharma Limited, Unimark Remedies Ltd., Savior Lifetec, Shenzhen Haibin Pharmaceutical Co., Ltd., Sterile India Pvt. Ltd., Zhejiang Jiuzhou Pharmaceutical Co. Ltd., and Kyongbo Pharm, consolidating their positions through mergers, acquisitions and new product launches.

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Why Future Market Insights?

  • Comprehensive analysis on evolving purchase pattern across different geographies
  • Detailed insights of market segments and sub-segments for historical as well as forecast period
  • A competitive analysis of prominent players and emerging players in the Antibiotics Active Pharmaceutical Ingredient (API) Market
  • Detailed information about the product innovation, mergers and acquisitions lined up in upcoming years
  • Ground breaking research and market player-centric solutions for the upcoming decade according to the present market scenario

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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Lightweight Automotive Body Panels Market is expected to experience an impressive CAGR growth 4.8 % through 2016-2026

Future Market Insights delivers key insights on the global lightweight automotive body panels market in its latest report titled “Lightweight Automotive Body Panels Market: Global Industry Analysis and Opportunity Assessment, 2016–2026.” Global sales of lightweight automotive body panels is anticipated to be valued at US$ 99.6 Bn by 2016 end, witnessing a Y-o-Y growth of 3.9% over 2015. APEJ is projected to account for a volume share of 29.2% in the global market towards the close of 2016 and is expected to retain its dominance throughout the forecast period.

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Automotive body panels such as bumpers, hoods, door panels, roof, and trunk lids are manufactured using lightweight materials such as high-strength steel, aluminium, magnesium, and polymers and composites in order to provide desired strength with reduced weight. Lightweight automotive body panels help improve fuel economy and performance of vehicles by reducing the overall weight of the vehicle. About 25% reduction in automobile weight saves 3.5 to 5.0 tonnes of greenhouse gas emissions over the lifetime of an average car. Manufacturers today are adopting lightweight body panels in vehicles in order to comply with government regulations pertaining to greenhouse gas emissions.

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Key Segment
By Material Type
• Metals
• High-strength Steel
• Magnesium
• Aluminium
• Polymers & Composites
• Carbon Fibre Reinforced Plastics
• Glass Fibre Reinforced plastics
• Other Polymer & Composite Materials

By Component Type
• Bumpers
• Hood
• Door Panels
• Trunk Lids
• Roof
• Others

By Vehicle Type
• Light Commercial Vehicle
• Heavy Commercial Vehicle

By Region
• Passenger Car
• North America
• Latin America
• Western Europe
• Eastern Europe
• APEJ
• Japan
• MEA

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Segmentation highlights
The global lightweight automotive body panels market is segmented on the basis of Material Type (Metals, Polymers & Composites); Component Type (Bumpers, Hood, Door Panels, Trunk Lids, Roof, Others); and Vehicle Type (Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle).
• The Metals material type segment is likely to be valued at US$ 92.7 Bn by 2016 end
• The Door Panels component type segment is anticipated to be a prominent segment accounting for maximum market share of 32.9% by 2016 end
• The Passenger Car vehicle type segment is expected to expand at a significant CAGR of 5.5% over the forecast period

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.

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.

Contact
Mr. Debashish Roy
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
MARKET ACCESS DMCC Initiative
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com

Automotive Washer System Market expected to register 5.4% value CAGR during the forecast period 2016-2026

Automotive Washer System Market by Technology, Application & Geography – Analysis & Forecast to 2026 || Robert Bosch GmbH, Denso Corporation, Valeo S.A., continental AG

Future Market Insights (FMI) delivers key insights on the global automotive washer system market in its latest report titled, “Automotive Washer System Market: Global Industry Analysis and Opportunity Assessment, 2016–2026”. Global sales of automotive washer systems including headlamp and windshield washer systems is expected to reach US$ 17.5 Bn in 2016, witnessing a y-o-y growth of 4.2% over 2015. The long-term outlook on the global automotive washer systems market remains positive, with the market expected to register a 5.4% value CAGR during the forecast period 2016-2026. Passenger car segment will account for maximum share of the total sales, extending the market share to 76.7% in 2026 as compared to 74.5% in 2016.

In terms of volume, the global sales of automotive washer systems is expected to reach 1,453.4 Mn units in 2016 and is expected to expand at a CAGR 3.5% over the forecast period 2016–2026.

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Increasing vehicle production and adoption of efficient wiper and washer technologies are primary factors bolstering the sales of washer systems globally. Moreover, high replacement rate of washer system components is expected to result in high sales in the aftermarket segment. The emergence of newer wiper blade and windshield cleaning technologies is resulting in higher cost of end products, which is a major factor restraining adoption of these products among consumers. High market penetration of relatively low-cost wiper and washer system alternatives restricts demand for wiper de-icer, nozzle integrated wipers and heated nozzle washer systems.

Segmentation highlights

The global automotive washer system market is segmented on the basis of Component (Nozzles, Reservoirs, Hose & Connectors, Pumps, Windshield Wipers, Wiper Motor); Sales Channel (OEM, Aftermarket); Technology (Electric, Mechanical); Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles); and Application (Windshield Washer System, Headlamp Washer System).

  • Windshield wiper was the largest segment by component in 2015 and this will remain unchanged in 2016
  • Nozzle and hose & reservoir segments are expected to be the next large segment in terms of volume
  • By value, wiper motor segment is expected to remain dominant over the forecast period. The segment is expected to account for share of 45.9% in 2016 and is expected to maintain dominance over the forecast period
  • By product type, windshield washer segment was the largest segment in 2015, and this segment is anticipated to hold 72.3% of the market revenue by 2026. Advancements in wiper blade technology and nozzle design will support growth of the market over near future
  • Headlamp washer system segment is anticipated to witness a relatively high value CAGR than windshield washer system.  Increasing sales of premium and luxury vehicle globally is anticipated to bolster the growth of headlamp washer system. Furthermore, automakers in the market are focussing on introducing value added features in their mid-range vehicles, so as to earn competitive edge in the market

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Regional projections

The global automotive washer system market is segmented into the regions of North America, Latin America, Western Europe, Eastern Europe, APEJ, MEA, and Japan. Asia Pacific, the largest market for automotive washer systems is expected account for US$ 5.5 Bn revenue in 2016. Increasing adoption of headlamp washer systems in semi-luxury and mid-sized cars is major trend witnessed in the region. North America is expected to be the next big market, the region accounted for 21.1% of the total revenue share in 2015 and is anticipated to hold 20.7% in 2016. The recent relocation of automobile production facilities to developing nations such as Mexico will impact the OEM sales of washer systems in the region. Western Europe is expected to account for US$ 3.3 Bn revenue in 2016. The market for headlamp washer systems in the region is majorly driven by the existing stringent regulations to deploy these systems with high intensity headlamps.

Market Segmentation

By Component

  • Nozzles
  • Reservoirs
  • Hose & Connectors
  • Pumps
  • Windshield
  • Wipers
  • Wiper Motor

By Sales Channel

  • OEM
  • Aftermarket

By Technology

  • Electric
  • Mechanical

By Vehicle Type

  • Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles

By Application

  • Windshield Washer System
  • Headlamp Washer System

By Region

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • MEA

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Vendor insights

Robert Bosch GmbH, Denso Corporation, Valeo S.A., continental AG and Mitsuba Corporation are the top five players in the global automotive washer system market, accounting for about 30% market revenue share in 2015. The leading players in the market are focusing on acquisition, collaboration and partnerships of/with technology providers to increase their product portfolio and market presence. Furthermore, expansion of production facilities, particularly in developing nations, is the key strategy adopted by major players 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.

Contact:
Future Market Insights,
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Plot No: JLT-PH2-X2A,
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United Arab Emirates
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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