Market Research Blog – Page 1563 – New Product Development

Real-Time Parking System Market to Surge with 8.9% CAGR, Projected to Exceed USD 96.4 Billion by 2032 | FMI Reports

The global real-time parking system market is expected to grow at an impressive compound annual growth rate (CAGR) of 8.9% from 2022 to 2032. Valued at USD 40,523.3 million in 2022, the market is projected to surpass USD 96,406.7 million by the end of 2032. This growth is largely driven by increasing traffic congestion, which is prompting city administrations to adopt real-time parking systems to better manage and streamline scattered parking spaces.

The rapid rise in the number of vehicles, coupled with growing traffic, has led to significant parking challenges, particularly in urban areas. Without a structured system in place, a considerable amount of time and fuel is wasted in the search for parking. Vehicles searching for parking can account for up to 25% of total traffic. These issues are exacerbated when parking spots are limited or restricted by specific time constraints.

Given these growing challenges, there is an urgent need for real-time information on parking availability in specific areas. The parking industry has undergone a technological transformation, and the integration of new technologies and equipment has made parking operations more efficient and convenient. As a result, real-time parking systems are increasingly being recognized as essential for improving urban mobility and reducing the inefficiencies associated with parking.

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Key Takeaways for the Real-Time Parking System Market:

Strong Market Growth: The global real-time parking system market is projected to grow at a robust CAGR of 8.9% from 2022 to 2032, with market valuation expected to reach USD 96.4 billion by the end of the forecast period.
Urban Traffic Congestion: Increasing urbanization and the rising number of vehicles have led to significant parking challenges, particularly in densely populated areas. Real-time parking systems are becoming essential tools for city administrations to manage parking spaces more efficiently.
Technological Advancements: The parking industry is undergoing a technological transformation, with the introduction of advanced technologies and equipment that enhance the efficiency and convenience of parking operations. This includes the use of IoT, AI, and mobile apps to provide real-time data on parking availability.
Environmental Impact: The implementation of real-time parking systems helps reduce the environmental impact by minimizing the time and fuel wasted by vehicles cruising for parking. This contributes to lower emissions and a more sustainable urban environment.
Increasing Demand for Smart Solutions: There is a growing demand for smart parking solutions that offer real-time information on parking availability, which helps in reducing traffic congestion and improving the overall driving experience.

Competitive landscape

Key manufacturers operating in the global real-time parking system market are working on strategies such as new product launches, geographical expansion, mergers and acquisitions, partnerships, and collaboration to identify the interest of potential buyers and create a larger customer base.

Some of the leading real-time parking system providers include Streetline, Smart Parking Ltd., ParkMe Inc., Parknav, T2 SYSTEMS, Spot Innovation, Inc., INRIX, Inc., ParkWhiz API, Robotic Parking Systems, Inc., Cisco Systems, Inc., and PARKMATIC.

In 2006, Smart Parking Limited was established. The latest SmartPark system from Smart Parking is a comprehensive, end-to-end solution that incorporates a sensor network with feature displays, and live gateways.

More Insights into the Real-Time Parking System Market

The real-time parking system market in the United Kingdom is anticipated to augment throughout the assessment period with a significant CAGR. The growth of the region is attributed to the federal policy intervention in intelligent parking systems as part of pollution-reduction efforts.

The adoption of real-time parking systems is increasing due to increased demand for these systems from a variety of sources, including commercial parking garages, universities, on-street municipalities, airports, hospitals, mall parking, and other event avenues.

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Key Segments profiled in the Real-Time Parking System Market Report

Real-Time Parking System by Type:

Software
Hardware
Services

Real-Time Parking System Market by Location:

On–Street
Off–Street
Others

Real-Time Parking System Market by Application:

Commercial
Personal
Transport and Aviation
Government
Others

Real-Time Parking System Market by Region:

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Website: https://www.futuremarketinsights.com
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Automotive Cast Iron Cylinder Head Market Expected to Reach USD 10.6 Billion by 2032, Growing at 5.6% CAGR | FMI Reports

The global automotive cast iron cylinder head market is poised for significant growth over the next decade, with an anticipated compound annual growth rate (CAGR) of 5.6% from 2022 to 2032. In 2021, the market generated revenue of approximately USD 5.9 billion, and it is expected to reach nearly USD 10.6 billion by the end of 2032. Historical analysis by Future Market Insights indicates that the straight or inline engine type held the largest market share, with a CAGR of 4.2% between 2017 and 2021. This segment is projected to continue its growth at a robust CAGR of 5.4% during the forecast period. On the basis of vehicle type, two-wheelers are expected to dominate the market, having grown at a 4.1% CAGR from 2017 to 2021, and are anticipated to expand at a 5.2% CAGR from 2022 to 2032.

The cylinder head plays a crucial role in an automobile’s engine, positioned at the top of the engine block to seal the combustion chamber. It also helps cool the engine block, preventing components from overheating. Another essential function of the cylinder head is to ensure proper lubrication of the cylinder, which is vital for the engine’s operation. According to research by RHP, Crisil Research, and ICICI Direct Research, cylinder heads are utilized in 34% of commercial vehicles, 22% of tractors, and 40% of SUVs.

Most Original Equipment Manufacturers (OEMs) prefer cylinder heads made of cast iron due to its key properties, including affordability, good machinability, corrosion resistance, rigidity, strength, hardness, low thermal expansion, and excellent casting ability.

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However, there is a growing trend among manufacturers to shift towards aluminum cylinder heads due to their lighter weight and higher thermal conductivity. While cast iron remains the preferred material for diesel vehicles and daily drivers due to its durability, aluminum cylinder heads are increasingly being used in gasoline engines, particularly in race cars and performance vehicles. Despite their advantages, aluminum heads require more frequent repairs compared to their cast iron counterparts.

Key Takeaways

Over recent years, reduction of emission standards and minimizing environmental impacts are known as the key areas for manufacturers to focus on. Governments all over the world are massively focusing on imposing stringent standards to reduce carbon which will compel OEMs and engine manufacturers to innovate and invest in the automotive cylinder head.
Moreover, emerging techniques such as injection molding have forced companies to manufacture complex designs of cylinder head covers. This drift is likely to further shape the market for automotive cast iron cylinders.

Competitive Landscape

At present, automotive cast iron cylinder head manufacturers are largely aiming at setting up manufacturing facilities, winning orders, and innovating in Research and Development. The key companies operating in the automotive cast iron cylinder head market include Toyota Industries Corporation, Yamaha Motor Co., Ltd., Cummins Inc., Sandvik Coromant, YASUNAGA CORPORATION, NEMAK, Silbitz Group GmbH, Mauss GmbH, TEKSID SPA, Cooper Corp, Brodix Inc., Craftsman Automation, and Linamar Corporation. Some of the recent developments by key providers of automotive cast iron cylinder heads are as follows:

In December 2021, Yahama’s engineers created a block and cylinder heads both of which were made of cast-iron blocks. It entails hemispherical chambers and a spark plug in the middle and two valves per cylinder.
In March 2019, Nissan expanded its heritage parts program and included new auto components. It was meant to provide new blocks and cylinder heads, wiper motors, and other parts for their new R32, R33, and R34. Most of the RB series use cast iron cylinder blocks ranging from a capacity of 2.0 to 3.0 liters.

Similarly, recent developments related to companies manufacturing automotive cast iron cylinder heads have been tracked by the team at Future Market Insights, which is available in the full report.

More Insights into the Automotive Cast Iron Cylinder Head Market

China is anticipated to dominate the global automotive cast iron cylinder market by growing at a CAGR of 4.6% from 2021 to 2032. China is expected to generate a total revenue of around USD 712.3 Mn by 2032 due to the setup of several engine plants to manufacture cylinder heads and other automobile components in China.

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Key Segments Covered in Automotive Cast Iron Cylinder Head Industry Survey

Automotive Cast Iron Cylinder Head Market by Engine Type

Straight or Inline Engines
V-Type Engines
Flat Engines

Automotive Cast Iron Cylinder Head Market by Vehicle Type

Two Wheelers
Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles

Automotive Cast Iron Cylinder Head Market by Region:

North America Automotive Cast Iron Cylinder Head Market
Latin America Automotive Cast Iron Cylinder Head Market
Europe Automotive Cast Iron Cylinder Head Market
South Asia Automotive Cast Iron Cylinder Head Market
East Asia Automotive Cast Iron Cylinder Head Market
Oceania Automotive Cast Iron Cylinder Head Market
Middle East & Africa Automotive Cast Iron Cylinder Head Market

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Fat Soluble Vitamins Market: Segment Forecasts and Key Trends Through 2032

Fat Soluble Vitamins Market is expected to reach US$ 384.5 Billion in 2032 and is anticipated to grow at 8.9% CAGR during 2022 to 2032

Vitamins are vital and essential organic nutrients, important for the metabolism and physical well-being of the body. Fourteen vitamins are essential for the normal and healthy growth of the human body that associates with and helps catalyze important biochemical reactions. Fat-soluble vitamins are non-polar compounds that are soluble in non-polar solvents such as fatty tissues of the body.

Vitamins A, D, E, and K are fat-soluble vitamins and are mostly sourced from plant sources such as nuts, whole grains, olive and sunflower oils, and spinach, etc., and to some extent from dairy products. Fat-soluble vitamins are dominantly consumed in the form of dietary supplements and fortified food products to make up for the daily intake of fat-soluble vitamins. The global market of fat-soluble vitamins is driven by the increasing health consciousness in the world.

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Plant-based Products Increased in Popularity driving the Global Market of the Fat Soluble Vitamins

The global fat-soluble vitamins market is driven by the rising health consciousness and health concerns in developed and developing countries. Fat-soluble vitamins have various health benefits, majorly consisting of, eye health, bone health, teeth health, muscle strength, mobility, brain health, cardiovascular health, and overall immune health. With the increasing prevalence of eye diseases and heart conditions along with the increasing average life span of humans leading to an increase in the percentile of the aged population, the fat-soluble vitamin market has increased demand for vitamin supplements.

Manufacturers of fat-soluble vitamins in the global market are manufacturing products with the claims such as GMO-free, vegan, animal-free components, etc. to increase sales by tapping into the current consumer demand. Considering the increasing health halo surrounding plant-based products, fat-soluble vitamins derived from plant sources have increased opportunities in the global market.

Fat Soluble Vitamins Market: Regional Analysis

North American and European region dominantly occupies the major share of the global fat-soluble vitamins market. Owing to the robust presence of the manufacturers and ease of access of consumer goods in the region, with the strong consumer spending the region occupies a major share. However, due to urbanization, industrialization, and improving economic situation, consumer spending is increasing in Asian and Middle Eastern, and African countries. This is further creating increased opportunities for fat-soluble vitamins and is expected to witness the highest growth rate over the forecast period.

Fat Soluble Vitamins Market: Key Participants

Some of the market participants in the fat-soluble vitamins market are:

Koninklijke DSM N.V.
Huaian Chenhui Chemical Company Limited
Glanbia Plc
BASF SE
Archer Daniels Midland Company
Lonza Group

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

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Fat Soluble Vitamins Market Segmentation

The fat-soluble vitamins market can be segmented on the basis of type, form, end-use, and distribution channel.

On the basis of type, the fat-soluble vitamins market can be segmented as:

Vitamin A
Vitamin D
Vitamin E
Vitamin K

On the basis of form, the fat-soluble vitamins market can be segmented as:

Liquid
Dry

On the basis of end-use, the fat-soluble vitamins market can be segmented as:

Food and Beverage
Infant Nutrition
Functional Food
Dietary Supplements
Cosmetics and Personal Care Products
Pharmaceutical
Animal Feed

On the basis of distribution channel, the fat-soluble vitamins market can be segmented as:

Direct Sales Channel/ B2B
Indirect Sales Channel/B2C
Hypermarket/Supermarket
Specialty Stores
Online Retail
Other Retail Format

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Steady Growth Projected for Dashboard Camera Market, Targeting USD 13 Billion by 2032, with a CAGR of 18.3% | FMI Reports

The global dashboard camera market is expected to reach a valuation of USD 13 billion by 2032, expanding at an impressive compound annual growth rate (CAGR) of 18.3% from 2022 to 2032. The market, valued at USD 2 billion in 2021, is projected to grow to USD 2.4 billion in 2022. Dashboard cameras are increasingly being used in personal vehicles, and the growing demand for personal vehicles is poised to drive substantial market growth over the forecast period.

Dashboard cameras play a vital role in preventing fraud and improving road safety. They serve as a preventative tool to help control and reduce road accidents while enhancing driver safety. According to a report by the World Health Organization (WHO), India leads the world in road accident fatalities, highlighting the importance of dashboard cameras, particularly for newer vehicles. Additionally, insurance fraud is becoming more common, with drivers often targeted even when they are the victims. Installing dashboard cameras can help provide evidence for insurance claims, offering significant benefits.

Moreover, dashboard cameras are highly valuable for fleet management. In industries where operations heavily depend on fleet vehicles, operating costs can escalate. Dashboard cameras help reduce these costs by improving fleet management, saving companies both time and money each year. This allows organizations to focus on more critical aspects of their business and increase their overall returns. Fleet owners and aggregators, such as Ola and Uber, also benefit from dashboard cameras, as they provide a way to monitor driver performance. These factors are expected to drive the growth of the dashboard camera market during the forecast period.

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Key Takeaways:

Regulations regarding privacy infringement may hamper the market growth.
The dashboard camera market in the United States will grow at a CAGR of 17.5%, reaching USD 4.4 Bn during the forecast period.
The U.K. dashboard camera market will register a CAGR of 16.8% and reach USD 522.1 Mn by 2032.
By technology, the basic dashboard camera segment will dominate the global marketplace with a CAGR of 18.1% during 2022-2032.
The dashboard camera market in the Asia Pacific region will account for the highest revenue growth.

“As the installation of dashboard cameras aids in controlling road accidents and lessens insurance claims, the global market for the same will witnessed considerable growth over the forecast period,” – says an FMI analyst.

Competitive Landscape

ABEO Technology CO., Pittasoft Co. Ltd., Garmin Ltd, Falcon Zero LLC, Cobra Electronics Co, Safe Cams, THINKWARE, Harman, Amcrest Technologies LLC, HP Development Company LP, DOD TechDJI, Panasonic Corporation, DOD Tech, Waykens Unc., Papago Inc., LG Innotek, Koninklijke Philips N.V, and Honeywell International Inc., among others are some of the major players in the dashboard camera market profiled in the full version of the report.

Leading market players are keen on product development and releasing new product lines. These businesses also employ strategic collaborations and partnership tactics to strengthen their market prospects.

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More Insights into Dashboard Camera Market Report

In its latest report, FMI offers an unbiased analysis of the global dashboard camera market, providing historical data from 2017 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of technology (basic, advanced, smart), product type (1-channel, 2-channel, rear view), video quality (SD and HD, full HD & 4K), application (commercial vehicle, personal vehicle), and region.

According to the latest FMI reports, based on segmentation, the basic technology segment will make significant contributions to the overall market growth. This segment is expected to grow at a CAGR of 18.1% during 2022-2032. In terms of application, the personal vehicle segment is anticipated to generate high demand during the projection period.

Based on region, the dashboard camera market in the United States and the United Kingdom will display remarkable growth during 2022-2032. The U.S. dashboard camera market is estimated to grow at a CAGR of 17.5% and reach US$ 4.4 Bn by 2032. This growth can be attributed to the rising popularity of ride-sharing companies like Uber and Lyft as well as to a well-established shipping and haulage business. The dashboard camera in the United Kingdom will grow at a CAGR of 16.8% and create an incremental opportunity of 411.3 Mn during 2022-2032. In addition, the target market in the Asia Pacific region is predicted to generate the highest revenue during the forecast period.

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Automotive Backing Plate Market Expected to Achieve USD 994 Million Valuation by 2032 with 4.9% CAGR | FMI Reports

The global automotive backing plate market is projected to reach a value of USD 994 million by 2032, with sales growing at a steady compound annual growth rate (CAGR) of 4.9% from 2022 to 2032. The market, valued at USD 590.6 million in 2021, is expected to reach USD 613.4 million in 2022. The ongoing advancements in regenerative braking systems and the rising demand for automobiles are key factors driving the growth of the automotive backing plate market during the forecast period.

Backing plates are essential components in all braking systems, serving a critical role in holding the various brake system elements together. Without backing plates, brakes would lack the necessary support and would be unable to function correctly. For example, in drum brakes, the backing plate supports the system, with brake shoes installed over the wheel cylinder of the backing plate to provide the friction needed to stop the vehicle. This crucial function would not be possible without the backing plate.

Among the two main types of brakes, disc brakes and drum brakes, disc brakes are generally preferred in the automotive backing plate market. Disc brakes are lighter than drum brakes and benefit from greater cooling efficiency due to their exposure to air, making them more effective.

Most passenger vehicles are equipped with disc brakes because they offer consistent performance at higher speeds and are less susceptible to brake fade. Additionally, disc brakes are increasingly being adopted in the commercial vehicle sector, which was traditionally dominated by drum brakes, due to their longer service life. As consumers increasingly seek brakes with longer service life and higher quality, the application of disc brakes is expanding. This, coupled with the growth of the commercial and passenger vehicle industries, is expected to further drive the demand for automotive backing plates during the forecast period.

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Key Takeaways:

By brake type, the disc brake category will register high preference and grow at a CAGR of 4.6%.
On the basis of material type, aluminum or titanium-backed plates will generate greater demand.
The aluminum-backed plates will record a CAGR of 4.8% and account for a significant revenue portion.
The automotive backing plate market in China will create a growth opportunity of USD 21.5 Mn during the forecast period.
The U.S. automotive backing plate market will expand at a CAGR of 4.2% and reach a value of USD 337.4 Mn by 2032.

“Increasing popularity of Disc brakes along with advancing brakes technology will likely supplement the global growth of the automotive backing plate market over the forecast period,” -says an FMI analyst.

Competitive Landscape

Super Circle, NUCAP Industries Inc, MAT Foundry Group Ltd., INDUS Marmara Auto, Components Pvt Ltd., Dorman Products, Ridex GmbH, Ortlinghaus-Werke GmbH, Sparex, RSB Tech Solution, and ACDelco among others are some of the major players in the automotive backing plate market profiled in the full version of the report.

In a competitive environment, leading market players are focusing on expanding their business across the globe. Market participants are keen on increasing their product portfolio, taking part in new development projects, and collaborating in joint ventures. New product releases, strategic partnerships, and agreements are also employed by these organizations.

More Insights into Automotive Backing Plate Market Report

In its latest report, FMI offers an unbiased analysis of the global automotive backing plate market, providing historical data from 2017 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of brake type, material type, vehicle type, and region.

According to the latest FMI reports, based on segmentation, the aluminum material type will contribute considerably to the overall market growth. This segment will grow from a CAGR of 3.5% registered in 2021 to a CAGR of 4.8% during 2022-2032. Corrosion-resistant, lightweight, and compact properties as well as easy replacement propel the growth of this segment.

Based on region, the automotive backing plate market in Europe will perform quite well with a 3.6% CAGR and a value of USD11.9 Mn by 2032. In terms of country, the United States and China will demonstrate notable growth during 2022-2032. The U.S. automotive backing plate market will exhibit a CAGR of 4.2% owing to a strong presence of e-commerce while China’s automotive backing plate market will grow at a CAGR of 4%. Overall, a surge in demand for automobiles, vehicular safety, and growing advancements in brake technology is driving the growth of the automotive backing plate market during the assessment period.

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Key Segments Covered in Automotive Backing Plate Industry Survey

Automotive Backing Plate Market Brake types:

Disc Brake
Drum Brake

Automotive Backing Plate Market by Brake Material type:

Aluminium
Iron
Others

Automotive Backing Plate Market by Vehicle type:

Passenger Cars
Light Commercial Vehicle
Heavy Commercial Vehicle

Automotive Backing Plate Market by Region:

North America Automotive Backing Plate Market
Latin America Automotive Backing Plate Market
Europe Automotive Backing Plate Market
South Asia Automotive Backing Plate Market
East Asia Automotive Backing Plate Market
Oceania Automotive Backing Plate Market
Middle East & Africa Automotive Backing Plate Market

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Automotive Brake Pad Market Expected to Expand at 4.6% CAGR, Targeting USD 4.2 Billion by 2032 | FMI Reports

The global automotive brake pad market is projected to reach a valuation of USD 4.2 billion by 2032, up from an estimated USD 2.7 billion in 2022. The market is expected to grow at a steady compound annual growth rate (CAGR) of 4.6% from 2022 to 2032. Key drivers of this growth include increasing concerns about vehicle safety and ongoing technological advancements in the industry.

The automotive brake pad sector is experiencing significant expansion as manufacturers focus on making driving safer and more convenient by enhancing brake pad technology through technological innovations. Moving beyond traditional brake pads, manufacturers have integrated them into advanced systems such as anti-lock braking systems (ABS) and anti-collision technologies, creating a safer driving experience. Additionally, the growing demand for hybrid and electric vehicles, along with the adoption of regenerative braking and ABS, has been a dominant trend in the brake pad markets of the United States and Europe in recent years.

Moreover, defective brakes are a leading cause of accidents globally, making the development of innovative braking technologies and heightened safety concerns key factors driving demand for high-quality automotive brake components. This demand is particularly strong in developing countries where road safety is a significant concern. Although asbestos-based brake pads are expected to see a sharp decline in growth due to their harmful effects, such as the risk of lung cancer, other segments of the market are anticipated to contribute significantly to the overall growth of automotive brake pads during the forecast period.

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Key Takeaways:

The North American automotive brake pad market will account for 41.4% of the global market share by 2032.
The automotive brake pad market in the United States is expected to reach a value of US$ 451.3 Mn by 2032 due to the high demand for electric vehicles.
China’s automotive brake pad market will expand at a CAGR of 3.6% and reach a value of US$ 84.3 Mn by 2032.
By material type, the non-asbestos organic brake pad will generate high demand due to high toxicity of asbestos.
The elevated demand for electric vehicles will propel the growth of the ceramic brake pads segment.

“High demand for safe, secure, and convenient driving experience and growing popularity of electric and hybrid vehicles will supplement the global growth of the automotive brake pad market over the forecast period,” – says an FMI analyst.

Competitive Landscape

Key market participants are entering new markets and establishing manufacturing facilities, as well as increasing investments in R&D activities. These players are also keen on product innovation and the development of brake pads that will have a greater shelf life. Joint ventures and strategic alliances are also employed to gain the upper hand in the competitive market.

Brembo S.p.A, Akebono Brake Company, Nisshinbo Brake Inc, Continental, Automotive GmbH, Bosch Limited, Tenneco Inc., Brakewel Automotive Components India Pvt. Ltd., among others, are some of the major players in the automotive brake pad market profiled in the full version of the report.

More Insights into Automotive Brake Pad Market Report

In its latest report, FMI offers an unbiased analysis of the global automotive brake pad market, providing historical data from 2017 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of material type, vehicle type, and region.

The non-asbestos organic brake pad and ceramic brake pads are anticipated to observe high demand during 2022-2032. Since asbestos, as a material, is quite toxic, more and more manufacturers are opting for non-asbestos organic brake pads. Increasing use of ceramic brake pads in hybrid and electric vehicles will fuel the growth of this segment during 2022-2032.

Based on region, the North American automotive brake pad market will dominate the global marketplace with 41.4% of the overall market share. The growth of the regional market is mainly due to the presence of growth-inducing factors in the U.S. The technological advancements and an upsurge in the demand for electric vehicles will push the U.S. automotive brake pad market to grow at a CAGR of 3.9% during 2022-2032. China’s automotive brake pad market, too, will expand at a CAGR of 3.6% and reach a value of USD 282.2 Million by 2032.

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Key Segmentations

Automotive Brake Pad Market by Material type:

Metallic Brake Pad
Semi-Metallic Brake Pad,
Ceramic Brake Pad
Asbestos Brake Pad
Non-Asbestos Organic Brake Pad

Automotive Brake Pad Market by Vehicle type:

Commercial Vehicle
Passenger Vehicle

Automotive Brake Pad Market by Region:

North America Automotive Brake Pad Market
Latin America Automotive Brake Pad Market
Europe Automotive Brake Pad Market
South Asia Automotive Brake Pad Market
East Asia Automotive Brake Pad Market
Oceania Automotive Brake Pad Market
Middle East & Africa Automotive Brake Pad Market

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Automotive Brake Shims Market to Expand at 5.6% CAGR, Projected to Hit USD 604.5 Million by 2033 | FMI Reports

Automotive Brake Shims Market

The global automotive brake shims market, as highlighted in a report by Future Market Insights (FMI), generated sales totaling USD 315.2 million in 2018. The market experienced a 5.2% year-on-year growth in 2022 and is expected to reach USD 349.0 million in 2023. Over the forecast period from 2023 to 2033, the market is projected to grow at a compound annual growth rate (CAGR) of 5.6%, culminating in a market size of USD 604.5 million by the end of 2033.

Automotive brake shims are essential components carefully placed between brake pads and calipers in vehicles. The demand for these thin, insulating materials is likely to increase due to their ability to minimize noise, vibrations, and harshness during braking maneuvers. By effectively absorbing noise and reducing vibrations caused by the interaction between the brake pad and caliper, brake shims are expected to significantly enhance passenger satisfaction and vehicle comfort.

The automotive brake shims market is being strongly influenced by the rising production of electric vehicles (EVs), with a particular focus on noise reduction and improved brake performance. As regenerative braking systems replace traditional friction-based systems in EVs, there is a growing demand for specialized brake shims designed to minimize noise and vibration in these vehicles. Manufacturers are adapting their production processes to meet these demands, driving innovation in the development of more durable and compatible brake shims for regenerative systems. The expanding aftermarket for electric vehicles is further fueling the growth of the brake shims market, as the replacement of brake shims becomes increasingly necessary.

The shift toward electric vehicles is expected to transform the automotive brake shims industry, emphasizing their role in providing a quieter and more comfortable braking experience for EV users. Additionally, the use of recycled rubber and bio-based composites in brake shims could contribute to reducing waste and minimizing the environmental impact of the manufacturing process. This is particularly important given the significant environmental footprint of the automotive industry. Efforts to reduce emissions and waste are crucial for a sustainable future.

The use of sustainable materials can also enhance the performance of brake shims. Recycled rubber is often used as a reinforcement material in brake shims, potentially increasing their durability and resistance to wear. Meanwhile, bio-based composites can offer unique properties, such as high strength and stiffness, which could further improve brake performance.

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Key Takeaways from the Automotive Brake Shims Market Study:

In the historical period from 2018 to 2022, the global automotive brake shims industry recorded a CAGR of 2%.
The United States automotive brake shims industry is expected to reach a value of USD 100.1 million by 2033.
China automotive brake shims industry is anticipated to incline at a CAGR of 9% from 2023 to 2033.
Germany automotive brake shims industry is expected to surpass a market value of USD 26.3 million by 2033.
The rubber segment by material is expected to dominate the automotive brake shims industry with a CAGR of 7% from 2023 to 2033.

“The market for automobile brake shims is being propelled by growing use of regenerative braking systems globally. Regenerative braking is a technique that uses a vehicle’s kinetic energy to create electricity. For subsequent usage, it can be kept in the battery. This factor is projected to create novel opportunities for leading companies.” – says a lead analyst at Future Market Insights (FMI).

Competitive Landscape

The automotive brake shims industry has a highly competitive landscape, with a significant number of players vying for high market shares. Several significant participants in this industry comprise Robert Bosch GmbH, ZF Friedrichshafen AG, Valeo S.A, Delphi Automotive PLC, Nisshinbo Holdings Inc., and Brembo S.p.A. among others.

Manufacturers might be researching and adopting new materials for brake shims to enhance their performance, durability, and noise reduction capabilities. Advancements in materials science can lead to shims that are more effective at reducing brake noise and vibration.

A handful of players are developing and incorporating advanced noise reduction technologies into brake shims. These could include features such as dampening layers, insulating coatings, and specific designs that minimize noise and vibration during braking.

They are providing a wider range of brake shim designs and sizes to fit several vehicle models and brake systems. Customized solutions can help improve performance and noise reduction for specific vehicles.

For instance,

EBC Brakes Racing introduced titanium motorsport brake pad shims in April 2022. It is appropriate for the high heat that comes with racing. For a wide range of high performance automotive uses, it was made accessible.

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Find More Valuable Insights into Automotive Brake Shims Market Study

The research report analyzes the market demand trends of automotive brake shims. The global market estimation and growth projection are based on factors such as end-use industries development, COVID-19 crisis impact, replacement ratio, and adoption rate of automotive brake shims.

As per Future Market Insights (FMI) research scope, the automotive brake shims industry has been studied and segmented on the basis of material (rubber material, pressure sensitive adhesive (PSA) material, and thermoset material, others), application (two wheelers, passenger vehicle, commercial vehicle), sales channel (OEM, aftermarket), and regions. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, the supply side and demand side.

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The automotive division of Future Market Insights (FMI) research offers a novel approach and innovative perspective in analyzing the automotive market. Comprehensive coverage of capital, portable, process, construction, industrial, and special-purpose machinery across the manufacturing sector and distinctive analysis of installed base, consumables, replacement, and USP-feature-application matrix make us a pioneering voice in the industry.

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Probiotics after Antibiotic Recovery Market: Competitive Landscape and Growth Drivers to 2032

According to FMI Experts, the global Probiotics after Antibiotic Recovery Market is anticipated to reach US$ 40.22 billion in 2022 and grow at a CAGR of 8.6% from 2022 to 2032.

Use of probiotic after antibiotic recovery has been gaining significant momentum, as antibiotics help in effective replenishment of the gut microbiome post a complete antibiotic course. Use of antibiotics often leads to wiping out of gut bacteria along with the harmful ones, which brings use of probiotics to the fore. Use of probiotics after antibiotic recovery helps in healthy restoration of gut bacteria, which, in turn, is instrumental to retain the sound health of intestines.

Probiotics have always been touted on account of their benefits for a huge range of health conditions. Probiotics are well-known for providing multiple benefits for immunity, digestion, weight management, and others. Moreover, use of probiotics for gastrointestinal disorders continues to be a major application, as they help in restoring normal bacterial microflora and enhance functioning of the GI tract.

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Use of Probiotics after Antibiotic Recovery- Novel Developments

Companies involved in development of probiotics for use after antibiotic recovery are focusing on new product launches to boost consumer confidence, which, in turn, will offer new business opportunities for probiotics after antibiotic recovery.

In 2017, Evonik Industries AG- a leading specialty chemicals company- introduced its line of probiotics ‘GutCare® PY1’ into the Asian market via new product launch in China. This is a part of the company’s strategy to be at the forefront of development & commercialization of sustainable probiotic products for animal nutrition. GutCare® PY1 was introduced to the Chinese market at the popular China Feed Expo held at Fuzhou. This new product is the first ever probiotic exclusively developed by Evonik and was initially introduced into the US market in 2017.
In 2018, Novozymes and Adisseo made an official announcement that Alterion®, a complete probiotic solution for maintaining good gut health in poultry, attained the approval by EFSA (European Food Safety Authority). The product was launched across Europe in 2018 as a safe & consistent alternatives to the antibiotic growth promoters. Building on the successful launch and co-development of Alterion, the companies are now focused on development of a joint pipeline of new products with better functionalities.

Probiotics after Antibiotic Recovery- Market Dynamics

Probiotics after Antibiotic Recovery- Efficacy of Probiotics in Restoration of Gut Flora Boosts Adoption

Probiotics after antibiotic recovery is gaining significant traction on account of concerns associated with aftermath of antibiotic consumption. High efficacy of probiotics in effective nourishment of gut health is boosting the adoption of probiotics after antibiotic recovery.

Antibiotics, apart from killing the harmful bacteria, do have negative impact on the healthy gut bacteria, which might disturb the balance of the microbium shifts. Some of the issues associated with imbalance of gut bacteria include irritable bowel syndrome, anxiety, autoimmune disorders, acid reflux, and others. Patients are turning to preemptive use of probiotics after antibiotic recovery to avoid the antibiotic-associated complications and retain the right balance of gut flora or gut microbiota.

Probiotics after Antibiotic Recover- Consumers Show Marked Preferences for Probiotic Supplements

Consumers are turning to probiotic dietary supplements, as a viable source of probiotic consumption after antibiotic intake. Sales of probiotic dietary supplements have hit new records with growth at an impressive rate, which offers credence to the fact that consumers are willing to invest in probiotic dietary supplements highly than ever. Though sales of probiotic-rich foods, such as sour milks and yogurts, outweigh that of probiotic dietary supplements, the consumption gap between the aforementioned is likely to narrow down as consumers are becoming increasingly aware of the benefits of probiotic supplements.

One of the major aspects leading to augmented consumption of probiotic supplements are the marketing strategies and paradigms used by manufacturing companies. Marketing of probiotic dietary supplements via catchy packaging formats and promising health benefit claims will continue to be a key component boosting sales of probiotic dietary supplements. Understanding consumer needs and preferences will continue to be a key pacesetter for growth of companies involved in development of probiotic dietary supplements. Such particulars typify that the demand for probiotic dietary supplements is highly likely to surge as an ideal source of probiotics intake after antibiotic recovery.

Probiotics after Antibiotic Recovery- Unfavorable Research Findings to Dent Consumer Confidence

While proponents continue to vouch for advantages associated with intake of probiotics after antibiotic recovery, some research findings contradict the aforementioned. The findings have raised several questions regarding use of probiotics after antibiotic recovery and claim that probiotics intake after antibiotic recovery might cause significant delay in restoration of gut microbial structure. This, in turn, is resulting in several ambiguities over viability of probiotics for use after antibiotic recovery and denting the consumer confidence.

Probiotics after Antibiotic Recovery- Market Segmentation

By Ingredient

Yeast
Bacteria

By Sales Channel

Direct channels
Distribution channels

Exhaustive Market Report: A Complete Study

Report Highlights:

A detailed overview of parent market
Changing dynamics of probiotics use after antibiotic recovery in the industry
In-depth segmentation associated with use of probiotics after antibiotic recovery
Historical, current, and projected size of probiotics intake after antibiotic recovery, regarding volume and value
Recent industry trends and developments in probiotics for use after antibiotic recovery
Competitive landscape of probiotics after antibiotic recovery
Strategies for key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on use of probiotics after antibiotic recovery
Must-have information for market players to sustain and enhance their market footprint

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Food Acidulants Market to Hit USD 4.5 Billion by 2033 Driven by Growing Demand for Flavor Enhancement

The food acidulants market is valued at US$ 2.6 billion in 2023 and is estimated to reach a value of US$ 4.5 billion by 2033, registering a CAGR of 5.4% during the forecast period.

The rising disposable income and growing demand for clean-label products and processed food are increasing the market share. Furthermore, the demand for food acidulants is fueled by the growing food industry, government initiative plans and emerging economies. In addition, the food and beverage manufacturers are fueling the market size by increasing the production of food acidulants during the forecast period.

One of the major factors helping to boost the food acidulants market size is the growing demand for healthy nutrition, citric beverage and preserved food among consumers. Moreover, the growing adoption of food acidulants by manufacturers is enhancing the taste of jellies, jams, cakes and pastries.

Adopting fumaric acid in several beverages to provide acidic flavor surges with the global market expansion.

Increasing demand for beverages among consumers all around the region is contributing to maximum revenue. Hence, the manufacturers are introducing several unique products to attract consumers and are increasing market trends during the forecast period. Moreover, the adoption of citric acid for desserts, syrups and exotic beverages is enhancing the market share. An increase in the trends of ready-to-eat food leads to the growing demand for food acidulants in the food sector.

The bakery and confectionery records a CAGR of 5.2% in the food acidulants market. The growing demand for cakes and pastries among children increases the demand for bakery and confectionery. Increasing demand for packed food and enhanced food shelf life drives the market expansion.

Powder Category is the most Sought-after in Foam Segment

The powder category leads the food acidulants market by occupying a CAGR of 5.6% during the forecast period. There is a growing demand for powder foam due to its better storage, ease of use and transport. The increasing consumer preferences are bolstering the demand for powder-form food acidulants.

Growing demand for nutritional diets for animals results in the increasing adoption of powder foam. The powder foam recorded a CAGR of 4.3% in its historical period from 2017 to 2022.

Key Takeaways:

The food acidulants marketvaluation is expected at US$ 4.5 Bn by 2033.
The global market is likely to increase during the forecast period witnessing a CAGR of 5.4%.
The market in the United States is anticipated to grow at a CAGR of 3.8% through 2033.
With a CAGR of 6.0%, the Indian market will significantly uplif during the forecast period.
The UK market is expected to grow at a CAGR of 4.5% over the forecast period.

Who is winning?

The market is growing at a moderate pace due to the number of prominent leaders in the global market. The growing local and international companies are advancing the business with the global players. These players are strengthening their companies through unique and innovative product launches.

The growing technological advancement, research activities and adopting market strategies by prominent players are the major factors anticipated to fuel the market expansion during the forecast period.

In 2021, a US-based Company, KPS Capital Partners, acquired Tate & Lyle to expand their business in North America and Latin America.

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Food Acidulants Market by Category

By Type:

Acetic Acid
Fumaric Acid
Citric Acid
Phosphoric Acid
Lactic Acid
Malic Acid
Tartaric Acid

By Foam:

Liquid
Powder

By Function:

Flavor Enhancer
Microbial Control
pH Control
Preservative
Others

By Application:

Bakery and Confectionery
Beverages
Dairy Food
Animal Nutrition

By Region:

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Vegan Protein Powder Market to Reach USD 9.07 Billion by 2033 Amid Surging Demand for Plant-Based Nutrition

According to Future Market Insight, the Global Vegan Protein Powder Market will reach US$ 9.07 billion by 2033, registering a CAGR of 7.4%. This anticipated growth signifies a remarkable upsurge from its projected worth of US$ 4.63 billion in 2023.

There has been a significant increase in people adopting vegan and vegetarian diets worldwide. Ethical considerations, environmental concerns, and personal health benefits motivate individuals to embrace plant-based lifestyles. As a result, the demand for plant-based protein powders has skyrocketed. Plant-based protein powders offer a convenient and accessible source of Protein without relying on animal-derived ingredients.

The increasing desire for protein supplements to enhance well-being and promote good health greatly contributes to expanding the vegan protein supplement market. The fast-paced nature of modern lifestyles and busy schedules have led to a higher demand for convenient protein sources. Moreover, vegan protein powders offer a suitable alternative for individuals who are lactose intolerant or have other dietary restrictions.

Given their high amino acid content, protein powder supplements are also gaining popularity among fitness enthusiasts seeking muscle development. Vegan protein powders have recently gained considerable popularity among athletes and fitness enthusiasts. These powders are derived from plant-based sources such as peas, rice, hemp, soy, and other legumes. They offer a convenient and effective way to increase protein intake, which is crucial for muscle repair and growth.

The increasing popularity of plant-based milk alternatives has significantly contributed to the rising demand for vegan protein powders. Soy milk, almond milk, and pea milk are widely consumed as substitutes for dairy milk and have gained popularity. Plant-based milk alternatives are often perceived as healthier than dairy milk due to their lower saturated fat content and potential health benefits associated with the plant-based ingredients.

Soy protein isolate is a high-quality, easily digestible protein with a neutral flavor. Pea protein powders are another good source of plant-based Protein. They don’t contain gluten and have minimal carbs. These factors make these alternative protein powders a popular choice among vegan consumers.

Vegan protein powders have expanded their reach through various distribution channels. They are readily available in health food stores, supermarkets, online platforms, and specialized vegan stores. E-commerce has created opportunities for established brands and emerging start-ups to reach a wider customer base. Online platforms offer convenient access to a variety of vegan protein powders, facilitating ease of purchase for consumers. This increased accessibility has significantly boosted the Market. It has made vegan protein powders easily accessible to a wider range of consumers.

The vegan protein powder market has seen successful marketing campaigns and endorsements by influential individuals. Celebrities, athletes, and fitness influencers have endorsed vegan protein powders. These endorsements have raised awareness and highlighted the benefits of vegan protein powders. They have managed to attract the interest of a broader range of viewers. Marketing efforts have played a pivotal role in promoting the growth of the vegan protein powder market.

Manufacturers continuously innovate to improve vegan protein powders’ taste, texture, and nutritional profiles. They are also introducing new flavors and incorporating additional functional ingredients, such as probiotics and superfoods, to enhance the overall health benefits.

In response to the growing demand for personalized nutrition, certain companies in the vegan protein powder market have started offering products tailored to the individual’s specific needs. This personalization considers factors such as age, gender, and fitness goals to provide a more customized and targeted protein supplement.

Key Takeaways from the Vegan Protein Powder Market

The United States held a 17.2% share of the global vegan protein powder industry in 2022.
India is expected to have strong growth in the vegan protein powder industry, with a CAGR of 4.7% during the projected period.
In 2022, Japan had a 4.8% share of the vegan protein powder industry globally.
China’s vegan protein powder industry is expected to flourish speedily, registering a CAGR of 10.2% over the forecast period.
Germany accounted for 6.2% of the global vegan protein powder industry in 2022.

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Competitive Landscape in the Vegan Protein Powder Market

Key players are actively expanding their product portfolios, focusing on research and development to improve taste and texture and investing in sustainable sourcing practices. They also employ innovative marketing strategies to reach a broader consumer base and capitalize on the growing demand for plant-based protein options. Additionally, these companies are forging strategic partnerships with retailers and health-conscious influencers to increase brand visibility and establish themselves as leaders in the rapidly growing vegan protein powder industry.

Recent Developments by Key Players

In June 2023, Synthite introduced two exciting new products to the Market. One of them is Just Plants, a plant-based dairy alternative, and the other is Protein, a plant-based protein drink powder.

In August 2021, Ascent, a rapidly growing sports nutrition company in the United States, unveiled a new range of organic plant-based protein powders to promote muscle health and enhance athletic performance.

Top Companies in Vegan Protein Power Market

Archer Daniels Midland Company
AGT Food and Ingredients
Cargill Inc.
A&B Ingredients
Ingredion Incorporated

Vegan Protein Powder Market Segmentation

By Source:

Soy
Wheat
Pea
Others

By Flavors:

Unflavored
Chocolate
Vanilla
Strawberry
Blueberry
Others

By Application:

Food Processing
Nutritional Products
Animal Feed
Household (Retail)
Others

By Distribution Channel:

Direct Sales
Hypermarkets/Supermarkets
Specialty Stores
Pharmacy & Drug Stores
Online Stores
Others

By Regional Outlook:

North America (United States, Canada)
Latin America (Brazil, Mexico, Peru, Argentina, Chile, Rest of LATAM)
Europe (EU-4, United Kingdom, BENELUX, Nordics, Eastern Europe, Rest of Europe)
East Asia (China, Japan, South Korea)
South Asia & Oceania (India, Thailand, Indonesia, Malaysia, Australia, Rest of South Asia & Oceania)
Middle East & Africa (GCC Countries, Northern Africa, South Africa, Turkey, Rest of MEA)

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.