Market Research Blog – Page 16075 – New Product Development

Motorcycle Suspension System Market Value to Reach US$ 2.4 Bn by 2029; Halted Production Due to COVID-19 Pandemic Challenges Rapid Market Growth

Air suspension systems have practical applications on any motorcycle configuration and other vehicles. Highly influenced by the adaptability quotient, motorcycle suspension systems improve the vehicle’s ride characteristics and the overall function. The rising suspension replacement frequency, increasing populace, and augmented demand for comfort are anticipated to push the market growth for the motorcycle suspension system. As per the latest market research, the motorcycle suspension system market is likely to reach US$ 2.4 Bn by 2029 and will expand at CAGR of 5% during 2019-2029.

With the growing traffic congestion, scooters are in demand when compared to conventional motorcycles, because of their low price range, good stability, and easy handling. It is being opted by all age groups, especially females, teenagers, and aged citizens. Higher gasoline and the natural gas costs are also pushing users to choose two-wheelers rather than four-wheelers. This might positively influence the growth of OEM production units in the motorcycle suspension system market during the projected period. Also, building well-established direct sales-supply agreements with OEMs in the automotive sector is a major winning approach for market players.

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Demand for Aftermarket and Electronic Controlled Suspension Systems to Witness Rapid Growth

Although the motorcycle suspension systems market keeps on leading the sales by OEM, the aftermarket is anticipated to record the highest expansion during the estimated time frame. This trend is stronger in developed regions in which, suspension systems replacement rate is more prominent than the rest of the world. According to a study published by World Economic Forum, road conditions in Latin American, African, and South Asian nations are poor; thus, in these countries, the prospects for the aftermarket will be medium to high in the global market.

Presentation of advanced features, for example, electronic controlled suspension systems in conventional scooters and motorcycles are driving the market growth.

COVID -19 Impact Analysis

COVID-19 could influence the worldwide economy by directly impacting market demand and production, by supply chain disruption, along with its financial effect on firms. With the strict implementation of lockdown, quarantines along with cross border travel bans, it has brought effects on the automotive sector.

Now, with a little relaxation in lockdown, especially in Asian nations, makers are opting for various measures to cope up with the current scenario such as OEMs have set up disinfectant chambers at the plant, put out mandatory usage of personal preventive equipment(PPE), set about periodic sanitization, as well as made social distancing standards-essential as guided by the Government. Moreover, to ascertain the safety of the potential consumers, participants and dealerships are likely to embrace digitization.

The motorcycle suspension system market is fairly consolidated. Major players operating in the market include ZF Friedrichshafen AG, Gabriel India Limited, KYB Corporation, Showa Corporation, and BMW Group. These prominent market players hold a noteworthy market value share.

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Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.

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Mobile Tracking Solution Market to Foresee Rapid Growth Due to Development of Sensor Technology & Connected Devices; Coronavirus Outbreak May Generate Growth Opportunities

Global Mobile Tracking Solution Market: Drivers

The global mobile tracking solutions market is estimated to witness rapid growth due to the development of sensor technology and connected devices over all the verticals, and reduction in search time for lost and misplaced assets. A few of the factors that are anticipated to fuel the market growth all over the globe are easy access to cost data for accounting purposes and asset depreciation, and better customer service. The mobile tracking solution market is likely to exhibit substantial growth in CAGR during 2015-2025.

However, high expenditure of the mobile tracking solution and lack of connectivity infrastructure in emerging regions are few of the constraints which are hampering the market growth of the mobile tracking.

Global Mobile Tracking Solution Market: Key Developments

With the technological progressions, industries have begun collecting reliable data with the help of wireless technology to offer valuable services concerning the asset supply or usage. By customizing their tracking solutions to meet the unique requirements of their customers, these businesses can leverage more competitive benefits as they have all the data required to make quick and smart decisions.

ORBCOMM’s CargoWatch® Secure is robust cargo security solutions that offer enhanced assets visibility in-storage and in-transit in addition to comprehensive asset lifecycle awareness. CargoWatch Secure supports management through KPIs, dashboards, and the capability to correct and detect supply chain anomalies in real-time. Additional insights are offered via advanced analytics and daily reports. Real-time, event-based notifications moreover allow quick corrective measures when any setbacks are observed.

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COVID-19 Impact Analysis

The COVID-19 pandemic is anticipated to amplify the gap between business 5G services and consumers. The private and government sectors are increasingly dependent upon data-driven technologies to help track and control the COVID-19 pandemic. However, it has also raised concerns regarding personal privacy, which might hinder the market growth.

Key Takeaways of Market Study

In terms of technology, the global market is categorized into GPS, RFID tags, and other technology.
Based on vertical, the market is segmented into the healthcare sector, public sector, BFSI sector, logistics, and transport sector, commercial sector, retail sector, energy & utility sector, industrial sector, manufacturing sector, and others.

Global Mobile Tracking Solution Market: Regional Insights

Future Market Insights in their recent research, forecasts that rising economies such as the Middle East & Africa, Latin America, and the Asia Pacific, are projected to generate new business prospects for the mobile tracking solution suppliers.

Global Mobile Tracking Solution Market: Competitive Landscape

Key participants in the mobile tracking solution market concentrate on the introduction of new enhance solutions and product innovation to outperform competitors. In addition, acquisition and merger is another major strategy opted by major participants in the mobile tracking solution market. For instance, ORBCOMM Inc. acquired SkyWave Mobile Communications (SkyWave) in 2015.

A few of the major participants identified in the global market are Mobile Asset Solutions., Wasp Barcode Technologies., Barcodes, Inc., ORBCOMM Inc., Wavetrend Ltd., Verizon, Spireon, Inc., Vix Technology, NFC Group, and Libelium Comunicaciones Distribuidas S.L.

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Specialty API Sales to Expand at 7.0% CAGR Through 2030, Raw materials Supply Shortages Due to COVID-19 Pandemic Challenges Rapid Market Growth

Technological progressions to increase manufacturing capacity in API production offers higher market prospects in developed markets for specialty active pharmaceutical ingredients (API). Substantial investments in the growth of permitted specialty API is one of the most important variables amid companies in the specialty API market. The specialty API market is anticipated to expand at a CAGR of over 7.0 % in terms of revenue consistently during the forecast period 2020-2030.

Specialty API Market: Key Developments

Rising cases of chronic diseases such as cardiovascular, diabetes, cancer, and infectious ailments are additionally offering potential prospects to the companies for the development of small-molecule APIs in the specialty API market.

Progressions of analytical methods offer better characterization and quantification of the specialty APIs of interest which also decrease the production and time. For instance, the presentation of the latest LC/MS methods in the past few years which utilizes both – low levels of triethylamine (TEA) and hexafluoroisopropanol (HFIP) as a mobile-phase buffer, impel the refinement processes and as well reduce cost and time.

Moreover, there has been substantial growth in proprietary chemical processes to augment production capabilities that have significantly bring down the production cost of specialty API.

Key Takeaways of Market Study

Based on product type, the small molecules API category stays dominant in the specialty API market, during the forecast period.
The growing acceptance of small molecules (non-biologics) due to myriad generic drugs in development and patent expiry has resulted in low-cost healthcare expenses which are projected to fuel the specialty API market.

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COVID-19 Impact Analysis

The immediate risk to the pharmaceutical sector from the supply shortages of vital raw materials from China because of the COVID-19 outbreak is limited. COVID-19 pandemic has directed towards a decrease in the manufacturing capability of several specialty API producers incorporating Contract Manufacturing Organization (CMOs) and pharmaceutical companies. Over a longer-term, the API sector in emerging economies such as India will stand to benefit as regulators, to encourage investments as well as incentivize the API sector and reduce dependence on China.

Regional Insights

Europe continues to be a thriving market for specialty APIs because of the higher implementation rate of patented/innovative medicines followed by North America. The U. S. stays a flourishing nation in the global market and it has consistently reflected noteworthy annual growth rates of over 5.5% in 2020. Apart from North America and Europe, India, China, Japan, and GCC Countries reflect noteworthy prospects for specialty API market players.

Competitive Landscape

The majority of the market players of the specialty API market are developing business strategies and highly innovative approaches to keep the market extensively consolidated.

The major market players are focusing on the growth of technologies, acquisition of medium and small-sized companies, and exclusive product licensing to keep up their strong market position. Also, partnerships, new product development, distribution agreements are the other approaches adopted by the prominent market players to lead themselves in the specialty API market.

For example, Anacor Pharmaceuticals, Inc. a top pharmaceutical company involved in building small molecule therapeutics API was taken over by Pfizer Inc, in June 2016.

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Sludge Treatment Chemicals Market Pegged at US$ 10,944 Mn Value Pool by 2026, Halted Production Due to COVID-19 Pandemic Challenges Rapid Market Growth

Expanding efforts towards water preservation exercises by environmental associations, industrial bodies, along with municipal corporations is boosting the sales of sludge treatment chemicals. The global sludge treatment chemicals market based on value reached US$ 6,580.0 Mn during 2015, which is anticipated to reflect a CAGR of 4.8% throughout the assessment period, to touch US$ 10,944 Mn towards 2026 end.

Key Developments

The demand for sludge treatment chemicals is projected to grow at a remarkable pace across industrial and municipal sludge treatment plants as a result of the strict regulations by the environmental and government agencies such as the Environmental Protection Agency (EPA) in North America. Growing awareness amid the public and absence of freshwater resource availability is also expected to boost demand for sludge treatment chemicals market globally. Quick industrialization outcomes in a rise in industrial sludge production that necessitates being treated, hence are supporting the market development during the forecast period 2016-2026.

Technological developments are prepared to create processes that discover the content of nutrients in the sludge. The fertilizer made from industrial sludge is anticipated to replace agricultural synthetic fertilizers and it will boost the industrial sludge treatment chemical market growth during 2016-26.

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COVID-19 Impact Analysis

Several leading market players in the industry have come forward to manufacture raw materials for safety products required for restricting the virus spread. The major market players such as INEOS, Huntsman, and Dow are ramping up the manufacturing of hand sanitizers.

Production plants are worker-dense as most of the operations cannot be executed remotely. To deal with the social distancing concerns, amid the COVID-19 pandemic, market players are carrying out staggered shifts and ascertaining a safe distance amid workers.

Key Takeaways of Market Study

Based on product type, the flocculant category accounted for 56.3% of the market share in the globally during 2016.
The disinfectant product type’s market share is likely to grow by 1.8x with sales anticipated to be estimated at US$ 656.4 Mn towards 2026 end.
In terms of application, the municipal category held the majority of market revenue share and is anticipated to record noteworthy CAGR during 2016-2026.
Based on treatment, the primary treatment is anticipated to dominate the market share in volume and value terms.
The tertiary treatment category will reflect a CAGR of 5.1% during 2016-2026.

Regional projections

The Asia Pacific regional market is likely to foresee a comparatively higher CAGR of 6.0% in revenue terms over the forecast period. Western Europe and North America are projected to add remarkable revenue share to the sludge treatment chemicals market all through the conjectured period. Stringent regulation concerning the sludge treatment has directed towards long term supply agreements.

Competitive Landscape

Supply chain strengthening, especially in regions such as Latin America and APEJ, is the foremost focus area for companies in this market. Producers are focused on the development of multifunctional polymers that could help in improved efficiency and cost-cutting. Several sludge treatment chemicals manufacturers have been engaged in strategic mergers and acquisitions to increase their customer base worldwide.

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Blockchain Technology Market Valuation to Surpass US$ 1.5 Bn by 2020; Coronavirus Outbreak to Generate Growth Opportunities

With consumers and businesses to increasingly depend on Bitcoin transactions, the money and payments use case of blockchain technology would also foresee growing demand during the forecast period. Consequently, by 2030 end, the valuation of the blockchain technology market is projected to expand over 35 times its value in 2019. The global blockchain technology market is anticipated to offer an incremental opportunity valuing over US$ 55 Bn from 2020 to 2030. The global market is anticipated to surpass US$ 1.5 Bn by 2020 end.

Blockchain Technology Market: New Developments & Product Innovations

Blockchain technology has laid out luxury brands with a unique solution to tackle entry to fraudulent products and counterfeiters in the market. For example, IBM’s TrustChain will accurately indicate the origin of jewelry from mine to store, assuring the supply chain stays fraud-free. The capacity of tracking jewelry with a unique special code would present the product’s history, right from the place of origin to the reseller and the seller.

The trust system at play, assuring the authenticity of the jewel, is likely to be this technology’s USP. Paperwork elimination assures to make the procurement system and sale more efficient during the whole process.

COVID-19 Impact Analysis

Blockchain technology is anticipated to emerge as a new digital society status quo, amid the COVID-19 pandemic. The blockchain technology is likely to accelerate major technological progressions that are already underway. Cryptocurrency and blockchain innovations will push forward the growth in the finance sector, ahead of other industries.

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Key Takeaways of the Market Study

Based on the solution, the blockchain platforms will offer major lucrative revenue generation prospects.
Based on the use case, the supply chain management is the key use case in the global market, trailed by decentralized finance.
In terms of enterprise size, large enterprises will remain as the key contributors to the market growth.
BFSI industry is the key contributor to market expansion with transportation & logistics industries trailing suit.

Regional Insights

The U.S. hosts majority of leading companies functioning in the global market. Heavy procurement of blockchain technology and a high focus on technology innovation in transportation and logistics, healthcare, and BFSI industries has made it possible for the nation to register the highest valuation in recent years. With this trend, North America will account for over 45% of global market share during the assessment period.

Higher demand in transportation and logistics, government, retail, and e-commerce and BFSI industries in nations such as Switzerland, U.K., France, Italy, Spain, and Germany will help the European blockchain technology market register the fastest development rate.

Competitive Landscape

As the technology is falling back in worldwide dispersal, start-ups in blockchain technology are endeavoring to grow long term partnerships with the integrators. The move comes to guarantee consistent revenue generation over the conjectured time frame. Start-ups are cooperating up with man-made reasoning (AI) based innovation designers to advertise extensive answers for decentralized budgetary applications. Market players, for example, Bitfury Group Limited are concentrating on growing their blockchain portfolio to incorporate hardware solutions that allow end-users to share or transfer resources assets and safely over a blockchain-based system.

Other market players, for example, Cegeka, are enhancing their current blockchain solutions to amplify business impact. These players are creating adaptable blockchain solutions that incorporate exceptionally desirable capabilities showcased at competitive rates.

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Surging Mobile Subscriber Base to Generate Opportunities for the Base Station Antenna Market by 2028; Industries Functioning at 50% Capacity Due to COVID-19 Outbreak: Concludes FMI

Enhanced omni-directional functioning and broader area connectivity of base station antennas are major aspects that are driving growth in the base station antenna market. Additionally, the surge in the mobile subscriber base is generating prospects for the base station antenna market.

Technical Progressions, Eases Connection Between Wired and Wireless Phones to Boost Base Station Antenna Sales

Rapid industrialization in developing and developed nations, a growing number of cell phone users worldwide, and technological progressions in communication equipment to ease the connection between traditional wired phones and wireless phones are some key variables anticipated to boost sales in the global market.

Companies such as CommScope provides an extensive range of base stations antennas, designed to assist in improving network capacity, with solutions supporting increased efficiency, densification, and new spectrum (includes remote electrical tilt, ultra-wideband flexibility for future spectrum releases, small cell/metro cell antennas, etc).

In the next few years, 5G will see continued development and innovation for passive antennas. Moreover, the Beijing Base stations are anticipated to experience a transformation in terms of quantity and quality with 6G. This transformation will maintain speeds of over 1 terabit per second or more than ten times faster than 5G. China and South Korea, home to worldwide producers of mobile phones, electronic parts, and base stations, are tapping the market players’ expertise and aim to take the lead in setting 6G tech standards via private-public efforts.

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COVID-19 Impact Analysis

The impact of the COVID-19 outbreak has lead majority of the industry, function at around 50% capacity, nevertheless, China has resumed its manufacturing operations since February. The outbreak has a significant influence on the technology sector, impacting raw materials supply, disrupting the value chain of electronics, and stimulating an inflationary risk on products. The cross border checks’ concerning COVID-19 has worsened the scenario. Moreover, the disruption has encouraged remote working, and a rapid focus on de-risking and evaluating the end-to-end value chain.

APAC to Dominate and Foresee Higher Expansion

The Asia Pacific leads the global market trailed by the Western Europe & North America region. The APAC market will foresee higher expansion because of the rising advanced mobile communication technologies and increase in the number of mobile subscriber base. Additionally, the need for the base station antenna in Western Europe is rising and will add to the sales valuation. MEA and Latin America will be contributing noteworthy market share over the assessment period.

Competitive Landscape

The growing investment by prominent players for technological progressions and expansion of advanced base station antenna, improves network capacity and solutions supporting densification will generate revenue prospects for market players operating in the target market.

Panorama Antennas, in July 2017, introduced light-duty base station antenna which offers superior broad area connectivity, especially for difficult signal environments. This light-duty base antenna endures LoRa technologies and low power wide area network (LPWAN) in several applications such as remote monitoring in utility meters, smart-grid, and oil and gas.

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Automotive Washer System Sales on an Upswing, Easing Lockdown worldwide Due to Coronavirus Outbreak to Generate Growth Opportunities

Growing vehicle production and effectuation of efficient washer & wiper technologies are the major factors supporting the sales of automotive washer systems worldwide. The automotive washer systems sales were expected to touch 1,453.4 Mn units, in volume terms, during 2016 and is likely to grow at a CAGR of 3.5% during the assessment period 2016–2026. The global Automotive Washer Systems Market is likely to account for a market valuation of US$ 29.6 Bn towards the end of 2026.

Key Developments

Some of the major trends witnessed in the global market are a smart technology amalgamation, growing usage of washer systems for the rear camera, expanding acceptance of headlamp washer systems in mid as well as semi-luxury cars and advances in nozzle design & wiper blade.

Additionally, notable opportunities present for washer system manufacturers via an extension in emerging economies. Current vehicle recalls due to the supply of defective washer system along with guidelines commanding usage of headlamp washer systems will make critical weight on the supply side to make cost-proficient, strong, and reliable washer systems, to gain market share.

COVID-19 Impact Analysis

The COVID-19 pandemic effects are getting under control, with the recovery of a gradual automotive sector, although at varied rates. With easing lockdowns worldwide in May 2020, auto sales have started to reflect some signs of improvement. Conversely, key risk aspects of the pandemic’s resurgence stay high, with the chance of markets entering lockdown again.

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Key Takeaways from Market Study

Based on components, windshield wipers will hold a dominant volume share and record a volume CAGR of 4.4% during the conjectured period. The category has huge demand from the aftermarket since it has a comparatively higher replacement pace.
The wiper motor component category will remain dominant during the estimated period. The category is likely to be estimated at US$ 13.1 Bn towards 2026 end, recording a 5.0% value CAGR during 2016-2026.
Pumps and reservoir category will foresee a moderate CAGR expansion throughout the estimated period.
Based on vehicle type, the passenger car category will be most lucrative and generate the highest incremental $ prospect during the anticipated period. The category will hold 74.5% of the overall revenue generated in 2016.
The LCV vehicle type category will foresee comparatively slower CAGR expansion during 2016-2026 in contrast to HCV and passenger cars.
In terms of application, the windshield washer system will uphold dominance both in volume and value terms throughout the forecast period.
The headlamp washer system will foresee quick growth and reflect an 8.3% value CAGR in contrast to 4.5% of the windshield washer system.
Based on technology, the mechanical washer system will foresee descent in growth pace. The electrical category accounted for 87.1% value share during 2015 and is likely to stay dominant during the projected period.

Regional Insight

APEJ (the Asia Pacific excluding Japan) is anticipated to dominate the market with a projected market share of 31.6% during 2016 and 38.0% by 2026. Conversely, regions such as North America are projected to lose notable basis point share throughout the assessment period due to the current shift of vehicle manufacturing facilities to Mexico, Brazil, and growing nations of Asia Pacific. New product development and innovation are likely to be the key focus of the leading players in the Eastern and Western European region. The MEA region is likely to account for minimal share all through the projected period.

Competitive Landscape

Automobile producers are projected to favor locally sourced components for sustainable supply and economical pricing, consequently benefitting domestic washer system producers. Moreover, international players can influence their capacities to grow into such markets via collaborations with regional participants.

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Sales of Aerospace Electrical Inserts Soar with Growing Frequency of Air Travel; Market Revenue Faces Significant Slowdown Amid COVID-19 Pandemic

The aerospace electrical inserts market will be witnessing a remarkable growth pace, due to the growing frequency of international and domestic air travel. There is a growing need for superior catering services, as airlines pelt along to offer differentiation based on in-flight services. Due to this, the need for aircraft galley equipment will increase significantly, aiding in the growth of the aerospace electrical inserts market over the next decade. Also, as galley equipment companies focus on providing reliable and lightweight galley equipment according to the needs of the aviation sector, the market players are expected to keep up with the same trend.

The expanding requirement for customized aircraft interiors is additionally projected to help the expansion of the market in the near future. The requirement for customized aircraft interiors is high and will drive demand for aerospace electrical inserts. A rising number of international tourists, the numbers of long-haul and international flights have augmented over the past few years. This trend is likely to continue in the approaching years, pushing the demand for aerospace electrical inserts.

Integration of Smart Technologies in Galley Equipment to Influence Market Growth

The development of galleys using smart technologies is expected to create new avenues for the aerospace electrical inserts market growth. For instance, Safran Cabin recently developed the Smart System Integrator Galley at Frankfurt Airport for the Boeing ecoDemonstrator. The galley’s features include an access point for communication to the iCabin network and Boeing, integrated & connected sensors, and connected E-Panel for monitoring noise, a connected electrical oven, connected E-Locks, humidity, and temperatures. The galley also incorporates a smart trolley solution called Sophy that optimizes and controls catering operations by communicating real-time, sharing and collecting, accurate data.

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COVID-19 Impact Analysis

The novel COVID-19 pandemic has hindered the aerospace electrical inserts market alike any other industry. With partially resumed production to implement stringent safety and health measures, the work stations would only re-open if they abide by self-distancing, cleaning, and hygiene guidelines.

North America & Europe to Remain Significant Markets

Asia Pacific will be a lucrative market, as it is home to rapidly growing economies that foresee the quick growth of their international as well as domestic airline fleets. Several airlines have placed orders for some huge new aircraft and are focusing on higher consumer service levels, whereas there is also the rising demand for aircraft retrofits, assisting the growth of the market. North America and Europe continue to stay significant markets for aerospace electrical inserts, with high customization needs and stable demand. India, China, Germany, the US, UAE, UK are a few of the major countries to witness strong demand growth.

Competitive landscape

Due to the individual airline operator’s customized preferences, players have the opportunity to offer flexible aerospace electrical inserts by adapting the customized needs of its customers and comply with the industry and international standards. The inserts are generally expected to comply with the ARINC or ATLAS standards worldwide, among others. With rising competition in the market, market players are hastening to offer aerospace electrical inserts that are low weight, reliable, and easily adaptable to retrofit or new aircraft requirements.

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Aerial Work Platform Sales to Expand at 4.2% CAGR Through 2030, Market is set for Sturdy Revival Amidst COVID-19 Crisis

Development in the aerial work platform market is characterized by renting and leasing of access equipment such as boom lifts, scissor lifts, and articulated boom lifts. The aerial work platform market is anticipated to reflect CAGR of over 4.2% over the projected period (2020-2030)

Key Trends

Progressions in telematics, new safety standards, and aerial technology innovations are governing the global market scenario. Based on safety standpoint, anti-entrapment systems are attaining rapid traction on compact equipment and lifts. These are particularly utilized in the construction industry where risk is maximum.

Diagnostic systems and remote access for aerial work platforms are mainly upping the troubleshooting and efficiency quotients of OEMs. Discreet tasks are additionally being made more independent to improve productivity.

Several stakeholders are seeking the online option for introducing their scissor lifts and boom aerial lifts together with a free subscription. With a lack of service techs, consumers could access all the significant information concerning the rental company online or via telematics, therefore, aiding rental companies to save on sustainment requests.

Key Takeaways of Market Study

Based on product type, boom lifts and scissor lifts will remain the major sellers among other categories.
In terms of ownership, the global market includes rental service providers and end-use industries (includes entertainment, construction, manufacturing, commercial and others (agriculture, public administration, etc.)

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COVID-19 Impact Analysis

The global market is poised for sturdy revival during the COVID-19 crisis with a rapid consumption across Europe which checked its disease curve flattening. Future Market Insights indicates that the market will foresee firm single-digit development due to investments in R&D and quickened construction activity.

Several stakeholders are nowadays hedging their bets on the higher development of utility infrastructure, particularly the development of 5G. Post pandemic, India, Japan, South Korea, and China will be thriving for the manufacturers.

Regional Insights

More strict legislations regarding higher labor costs and worker safety have made Europe and North America early adopters of the market. The market is more mature with better penetration rates. Europe market accounted for around one-third of the global sales in 2019.

China and India would continue to be thriving markets. The India aerial work platforms market has progressively shown a robust CAGR at 8% in 2020.

Competitive Landscape

The majority of the producers are centering on cost reduction plans in the current pandemic while focusing on the high durability, strength, and quality of their products.

For example, Skyjack, a subsidiary of Linamar Corporation, presented the latest sort of scissor lifts build particularly for rough terrain. These possess larger platform spaces and better working heights.

Moreover, the company has also presented the ELEVATE telematics solution that allows scissor lifts to directly react to commands given over a mobile phone network or the phone and execute tasks independent of steering, driving and lifting. Players are centering on partnering with strategic distributor dealerships for businesses in the rental landscape. Distributors will aid to hold the market in several regions.

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Automotive Glass Film Sales on an upswing; COVID-19 Pandemic Challenges Rapid Growth Due to Halted Automobile Production: FMI

The rise in usage of both new units of passenger cars and commercial vehicles has made ways for sales of automotive glass film. The user-friendly and unique features of automotive glass film have helped in making a good impact on the market. Due to gradual decrease in fossil fuel sources, the sale of electric motor vehicles is gaining traction. This would help the automotive glass film market to grow during the forecast period 2018-2026. The usage of automotive glass film today has pulled in existing vehicle users to discover the new products and utilize the films via aftermarket sales channels.

Automotive Glass Film: Key Developments & Innovations

Luxury vehicles such as the McClaren and Mercedes S-Class have been an early adopter of novel automotive glass technologies. Instances of these technologies include instantaneously tint car windows at the touch of a button, making the rides safer with privacy glass, and in-vehicle entertainment boosts the driver’s and passenger’s experience. However, these innovations will soon be a broadly adopted as standard material in serial manufacturing. Some other technological progressions seen in the market are IR cut windshields and solar controlled glass for sidelites and backlites, turning windows into dynamic advertising surfaces, acoustic windshield for cars, heated windshields and water repellent glass for side windows.

COVID-19 Impact Analysis

With the first COVID-19 outbreak in China, companies are considering to establish alternative supply chain. Market players are seeing nations such as India, Thailand, and Vietnam as a good investment opportunity to move their manufacturing units and procurement of raw materials from China. In a post-COVID-19 world, the utility and use of vehicles are likely to change extremely. The market can see increase in the user’s digital engagement, during the outbreak. Therefore the internet and connectivity features, particularly in cars are expected to surge.

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Regional Insights

The European region together with North America and the Middle East has been the prominent market for the automobile sector. The rise in vehicles sale in the Middle East and Asia and the European Union, together in recent years could prove to be a big platform for the automotive glass film market. China is another prominent market where the number and sales of vehicles in use both are expanding at higher rates. The growth in the number of vehicles in use together with moderate new vehicle sale expansion in the North America could be beneficial for the market to expand. Latin America can overturn the automotive glass film market because of diminishing sales and a moderate rise in the number of vehicles in use in previous years. India has exhibited considerable growth in the sales of vehicles in the past few years and could be a huge market for automotive glass film.

Competitive Landscape

Market players are engaged in R&D activities and are beginning to develop glass films keeping in mind users’ comfort. For instance, 3M has come up with window tint to enhance the appearance and comfort of the vehicle users incorporating features such as increased privacy, reduction of excessive heat, UV protection, glare or security, and a faded interior.

For information on the research approach used in the report, request methodology@ https://www.futuremarketinsights.com/askus/rep-gb-6997

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