Market Research Blog – Page 1667 – New Product Development

Rapid Growth: Automotive Spacer Ring Market to Hit USD 853.2 Million by 2032, with a CAGR of 15.5% | FMI Reports

The global automotive spacer ring market is projected to surpass USD 853.2 million by 2032, creating a significant absolute dollar opportunity. Valued at USD 421.7 million in 2022, the market is anticipated to grow steadily at a CAGR of 15.8% over the forecast period from 2022 to 2032.

Government investments in the automotive sector are expected to drive the demand for automotive spacer rings during this period. Additionally, ongoing technological advancements aimed at developing innovative automotive systems are likely to benefit the market.

Automotive spacer rings play a crucial role in protecting various auto components from wear and tear and ensuring precise positioning for operational stability. They are designed based on the size of the gaps that need to be filled, enhancing the vehicle’s performance and longevity.

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Key Takeaways from the Automotive Spacer Ring Market Report:

With the increased usage of automotive spacer rings in dual pipe exhaust systems, wheel mounting, and camshaft, the demand for automotive spacer rings is anticipated to grow at a rapid pace in the upcoming years.
The ability of automotive spacer rings to maintain a particular distance between two intermediate auto parts is another vital factor that is set to spur growth in the global market.
Automotive spacer rings are designed to divide two parts of a vehicle in order to gain the desired output due to which they are considered to be a secondary component in automobiles.
The easy availability of automotive spacer rings made of numerous materials, such as nickel bronze, aluminum, and stainless steel is expected to augur well for the global market.
Spike in sales for the automotive spacer rings market is projected owing to the increasing demand for passenger cars and commercial vehicles across the globe.
The rising per capita income of people in developing countries and increasing usage of luxury passenger cars in developed countries for high levels of comfort are also expected to propel the market.
The surging number of e-commerce and construction activities all over the world are anticipated to push the need for smooth material transportation. With an increase in the sales of commercial vehicles, the global automotive spacer rings market is also propelling.

Competitive Landscape:
Sick AG, WADE Drains, Crane Cams, Mondello Performance Products, Inc., KnitMesh Technologies, SPIROL, Eaton Corporation, Competition Cams, Inc., ARaymond, L. Huyett (Shims) are some of the key companies profiled in the full version of the report.

Leading players in the global market are increasingly focusing on research and development activities to launch new products and expand their customer base. Some of the other key players are aiming to broaden their manufacturing facilities, as well as join hands with start-up companies to develop innovative products in the market.

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More Insights into the Automotive Spacer Ring Market:
According to FMI analysis, North America is projected to dominate the global automotive spacer ring market, accounting for the largest share in the evaluation period.

Government regulations imposed in the U.S. and Canada are forcing the automotive industry to cut short the greenhouse gas emissions and tackle carbon emission problems caused by diesel fuel combustion. Therefore, automakers are investing more in the development of electric trucks to replace diesel trucks.

A leading automotive company exhibited its latest North American Class 8 battery-electric project trucks at an exclusive event in California. The company is planning to sell its electric trucks across North America for construction operations, as well as urban transportation. Owing to the increasing number of new product launches in the United States is anticipated to auger well for the market.

The ongoing expansion of the industrial automation sector in developing countries like India and China is one of the crucial factors that will auger the demand for spacer rings in the Asia Pacific.

The rising shift of several goods transportation companies towards electric propulsion-based vehicles owing to the adoption of green transportation systems is also likely to aid growth.

Rising government initiatives in terms of tax rebates and subsidies are anticipated to drive high sales of commercial vehicles across the Asia Pacific region. The overall commercial vehicle sales grew from 568,559 to 716,566 units. These numbers are expected to increase at a rapid pace in India, thereby fostering the Asia Pacific market.

Automotive Spacer Ring Market Segmentation:

By Vehicle Type:

Passenger Car
Mid-size
Compact
Luxury
SUVs
Light Commercial Vehicle
Heavy Commercial Vehicle
Electric and Hybrid Vehicle
Two Wheelers
Scooters
Motorcycles

By Material Type:

Nickel Bronze
Stainless Steel
Carbon Steel
Stainless Steel
Aluminum
Brass & Copper

By Sales Channel:

Original Equipment Manufacturer (OEM)
Aftermarket

By Region:

North America
Latin America
Western Europe
Eastern Europe
APEJ
Japan
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 over 400 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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Future Outlook: Turbofan Engines Market to Expand at 17.2% CAGR, Reaching USD 5.1 Billion by 2032 | FMI Reports

The turbofan engines market was valued at USD 1.05 billion in 2022 and experienced a 6.3% increase year-on-year. The market is projected to grow at a robust CAGR of 17.2% from 2022 to 2032, reaching an estimated USD 5.1 billion by the end of the forecast period.

Demand for turbofan engines is expected to remain strong in the commercial sector, with a notable surge in demand for wide-body aircraft engines. The North American region is anticipated to dominate the turbofan engines market throughout the assessment period.

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Keys to success for Turbofan Engine Market Growth

With rapid urbanisation and global passenger traffic, an accelerated and more comfy mode of transportation is obligated. To encounter this demand, the airline business is growing at a rapid pace. A rapid way to transport goods is also required by the burgeoning transportation sector.

The most effectual mode of transportation is air transport. As the airline industry expands, so does the demand for new innovations and fuel-efficient engines. This factor is believed to have a promising potential the turbofan engines market during the forecast period.

Demand for next-generation engines and technological improvements are intensifying in the military sector, which is expected to increase market pressure for turbofan engines over the forecast period.

Key Takeaways

The turbofan engines market increased by 6.3% year on year over the last year.
The APAC turbofan engines market is expected to exceed US$ 16 billion by 2032, growing at a 5.3% CAGR over the forecast period.
Wide-body aircraft are expected to be in high demand in Asia-Pacific markets due to their ability to carry large loads over long distances.
The commercial segment is expected to be the largest and fastest-growing segment, owing to rising demand for technologically advanced engines to replace conventional engines.

Competitive Landscape

The turbofan engines market is much consolidated, with a few companies influencing a substantial portion of total output. GE Aviation, a division of General Electric Company, is a major manufacturer of turboprop and jet engines. The company is expected to dominate the global market due to its superior product technology and diverse product portfolio.

Rolls Royce Holdings Plc., Safran SA, CFM International SA, and others are also market leaders. The key strategy implemented by the turbofan engines market’s major players is the introduction and modernization of advanced technology in order to offer a more diverse product portfolio to their customers.

Key Companies Profiled

GE Aviation
Rolls-Royce Plc.
United Technologies Corporation – Pratt & Whitney Division
CFM International
Engine Alliance LLC
International Aero Engines
Williams International
SE Ivchenko-Progress
United Engine Corporation
EUROJET Turbo GmbH
IHI Corporation
Safran SA

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Recent Development

Saudi Arabian Airlines has awarded CFM International, a joint venture of General Electric and Safran Aircraft Engines, a contract for CFM International LEAP-1A engines to power its new fleet of 35 Airbus A321neo and 30 Airbus A320neo planes.
The US Air Force awarded GE Aviation a USD 1.58 billion contract to supply F110 engines for the Boeing F-15EX Eagle II in October 2021. As a result of this decision, GE to be the sole propulsion source for the US Air Force’s entire planned F-15EX fleet.

Key Segments Covered in the Turbofan Engines Industry Survey

Turbofan Engines Market by Type:

Wide Body Aircrafts
Narrow Body Aircrafts

Turbofan Engines Market by End Use:

Turbofan Engines for Commercial Aircrafts
Turbofan Engines for Transportation Aircrafts
Turbofan Engines for Business Jets
Turbofan Engines for Military Aircrafts
Turbofan Engines for Transport Aircrafts
Turbofan Engines for Fighter Jets

Turbofan Engines Market by Region:

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

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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Sales of Used Bikes through Bike Marketplace Expected to Reach USD 68 Billion by 2032, with a CAGR of 4.6% | FMI Reports

The sales of used bikes through bike marketplaces are projected to experience steady growth, with an average Compound Annual Growth Rate (CAGR) of 4.6% during the forecast period. Increased awareness about bike marketplace sales is expected to drive substantial growth, leading to a significant rise in sales from USD 43 billion in 2022 to USD 68 billion by 2032.

Consumers benefit from the used bike marketplace as these bikes are more affordable than newly released models and require less maintenance. Additionally, worsening traffic conditions are a significant factor contributing to the expansion of used bike market trends. The growing number of daily commuters in urban areas is indirectly boosting sales of used bikes through marketplace opportunities for dealers.

Sales of used bikes through bike marketplaces are particularly strong in the used luxury bike segment, providing vendors with higher profit margins. The involvement of Original Equipment Manufacturers (OEMs) in the sales of used bikes through marketplaces has increased due to the higher commission cuts for market players during the process.

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The new market research report on the sales of used bikes through bike marketplaces also highlights the regulatory constraints imposed by public administrations regarding the environmental impacts of older automobiles. In an effort to control vehicular emissions, many regulatory bodies have mandated limits on the total lifespan of any vehicle. This regulation could pose a significant challenge for the growth of bike marketplaces during the forecast period.

Key Takeaways

The historical size of the global used bike marketplace in the year 2021 is estimated to be around US$ 38.2 Billion.
The yea-on-year growth rate of the used bike marketplace is found to have improved from that of 4% recorded during the time period covering 2017 to 2021.
On the basis of distribution channel, customer to customer method of business is the dominating segment with 62.8% contribution.
Imported bikes accrue almost 63% of the total sales of used bikes through bike marketplace achieved by the global market.
Bikes with an engine capacity ranging between 150 CC to 200 CC is figured out to be the highest selling segment for the sales ofused bikes through bike marketplace.
In consistent with the fact, super bikes are the most popular segment with 25.2% market share and higher profit margin for the sales ofused bikes through bike marketplace.
Used electric bikes for sale through marketplaces has surfaced to be rapidly gaining traction against petrol bikes, by acquiring nearly 31.7% of the total market in a very short time.

Competitive Landscape

Some of the market key playersincludes Droom, CredR, Bikedekho, Bikewale, Mahindra First Choice, Bikers Highway, OLX, Quicker, Use Motorcycle Store, and Bicycle Bluebook among others.

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Key Segmentations

By Distribution Channel:

Customer to Customer
Business to Customer

By Source:

Domestic Bikes
Imported Bikes

By Engine Capacity:

Up to 100 CC
100 to 110 CC
110 to 135 CC
135 to 200 CC
Above 200 CC

By Type:

Computer
Off-Roading
Sports
Super Bikes
Cruiser Bikes
Others

By Propulsion:

Petrol
Electric

By Region:

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

Recent Developments

CredR is a well-known used bike sales online website that has pledged to deliver used bikes to the homes of its customers by the year 2020. Consequently, CredR Care has now become associated with the on-demand doorstep bike service sector that it provides as a result of this new business approach.

Triumph Motorcycles, based in the United Kingdom (UK), has announced the launch of a used premium bike programme especially for the Indian market and consumers in 2019. In addition, the company also wants to provide clients financing alternatives for its reconditioned or refurbished products to further attract potential buyers.

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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Surging Ahead: Electric Vehicle Sensor Market Expected to Reach USD 49,392.50 Million by 2034 at 16.5% CAGR | FMI Reports

The electric vehicle sensor market is poised to reach a valuation of USD 10,725.11 million by 2024. The increasing number of electric vehicles on the road signals a promising future for the EV sensor market. As the demand for sustainability grows, the electric vehicle sensor market is thriving alongside the expanding EV sector.

The industry is expected to grow at a CAGR of 16.5% through 2034. The rising adoption of luxury electric vehicles, driven by consumer demand for automation and comfort, is a significant factor in this growth. Electric vehicle sensors, particularly those integrated with ADAS and AD systems, are enhancing the convenience and usability of EVs, which is projected to fuel market expansion over the forecast period.

By 2034, the electric vehicle sensor market is forecasted to reach a value of USD 49,392.50 million. As consumers become more familiar with the workings of electric vehicles, the advancement of EV sensors is becoming increasingly significant. The safety features provided by battery sensors are expected to add considerable value to the market.

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Position sensors, temperature sensors, and other varieties of sensors are key drivers of the market’s growth. These sensors offer assistance with lane changing, parking, and other driving needs, further contributing to the market’s expansion.

Key Takeaways from the Electric Vehicle Sensor Market

The Electric Vehicle Sensor market is expected to be USD 10,725.11 million in size in 2024.
Position sensor is the top product type in the market. Position sensors are expected to account for 42.9% of the market share in 2024.
OEMs are the predominant sales channel. For 2024, OEM sale is anticipated to account for 93.0% of the market share.
India is expected to be a promising country in terms of progress for the market. The country is forecasted to have a CAGR of 18.8% from 2024 to 2034 in the market.
South Korea and Australia are poised to be lucrative countries for the market. For the forecast period, the CAGR for South Korea and Australia is predicted to be 17.9% and 18.2% respectively.
The market is expected to progress at a CAGR of 17.1% in Spain through 2034.

“With government help in addition to increased private funding, the EV sector is thriving. Components of EVs are no different and thus the Electric Vehicle Sensor market represents significant potential for investors,” – says an analyst at FMI.

Competition Analysis of the Electric Vehicle Sensor Market

Large multinational companies hold a significant share of the market, although the doors are not shut off for new entrants and startups. Partnerships with EV manufacturers are being sought to ease the sale process. Some of the prominent companies in the market include Analog Devices Inc., Denso Corporation, Amphenol Advanced Sensors, and Infineon Technologies AG

Key Players

Analog Devices Inc.
Denso Corporation
Amphenol Advanced Sensors
Infineon Technologies AG
Allegro MicroSystems, LLC
AMS Osram AG
Kohshin Electric Corporation
LEM
Renesas Electronics Corporation
Sensata Technologies
STMicroelectronics
Melexis
Texas Instruments Incorporated
Vishay Intertechnology, Inc
NXP Semiconductors NV

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Recent Developments in the Electric Vehicle Sensor Market

In January 2024, the Xensiv TLI5590-A6W magnetic position sensor from Infineon was launched.
In April 2022, it was announced that Denso Corporation’s sensors had found a place in two new electrical vehicles, the Toyota bZ4X and the Subaru Solterra.

Key Segmentations

By Product Type:

Temperature Sensors
Current Sensors
Position Sensors
Pressure Sensors
Speed Sensors

By Sales Channel:

OEM
Aftermarket

By Propulsion:

Battery Electric Vehicles (BEVs)
Hybrid Electric Vehicles (HEVs)
Plug-In Hybrid Electric Vehicles (PHEVs)

By Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East and 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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Three-Wheel E-Scooter Market to Expand at 2.4% CAGR, Reaching USD 1301.4 Million by 2032 | FMI Reports

The three-wheel e-scooter market size is anticipated to grow at a CAGR of 2.4%, increasing from USD 1024.2 million in 2022 to USD 1301.4 million by 2032.

Several factors are driving the expansion of the three-wheel e-scooter market, including reduced noise levels, low maintenance costs, exceptional mechanical performance, and the growing global adoption of electric scooters. Government incentives, both financial and non-financial, are also contributing to the growth of the three-wheel e-scooter business. As consumers become more aware of the environmental impact of traditional transportation methods, they are increasingly opting for electric vehicles, creating new opportunities in the evolving market for three-wheel electric scooters.

However, certain limitations are hindering the development of the three-wheel electric scooter market. The lack of charging stations and concerns about energy capacity and endurance are some of the key factors preventing the growth of the global three-wheel e-scooter market.

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The demand for three-wheel e-scooters is rising due to the implementation of global emission regulations. The market is also benefiting from significant research and development investments by regional and international agencies. Additionally, the increase in fuel costs is accelerating the adoption of three-wheel electric scooters. These scooters are highly practical, available in various models and capacities, and are expected to see a rise in demand. Government programs offering attractive discounts on three-wheel e-scooters are anticipated to further boost their acceptance on a global scale.

KEY TAKEAWAYS:

The European three-wheel e-scooter market will command the largest portion of the market. The rapid development of infrastructure and the industrialisation of new technologies are boosting the growth of the European demand for three-wheel e-scooter.
In 2019, the 36V segment accounted for more than 60% of the three-wheel e-scooter market’s The 36V battery segment’s supremacy can be ascribed to its strong power output and compatibility with electric scooters.
Retro is predicted to be the most profitable area based on application. This is related to a move toward green vehicles for short-distance travel.
Due to its durability and low cost, sealed lead-acid batteries dominated the industry in 2021, accounting for about 62 percent of total sales of three-wheel e-scooter.

Key Players

Invacare
Afikim Electric Vehicle
Hoveround Corporation
Pride Mobility Products
Sunrise Medical Inc.
VAN OS Medical UK Ltd
Energica Motor Company S.p.A.
EV Rider LLC
UK Mobility Group Ltd
Golden Technologies
MERITS Co. Ltd
Hero Moto Corp

RECENT DEVELOPMENT:

Due to increased demand, Hero Electric (India) increased the capacity of its new production facility in Ludhiana (India) in September 2021. By Q2 2022, the company has increased production capacity from 1 lakh to over 5 lakh automobiles.
In August 2020, Okinawa Autotech introduced the R30, a low-speed electric scooter with a top speed of 25 kilometres per hour.

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Key Segmentations

Battery Type:

Li-Ion
Ni-Mh
Lead Based
Others

Technology:

Plugin
Battery

Price Range:

Below USD 200
USD 200 – 375
USD 375.1 – 750
USD 750.1 – 1100
Above USD 1,100

Distribution:

OEM
E-Commerce
Others

End Use:

Personal
Rental
Law Enforcement

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.

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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Riding Through the Elements: Waterproof E-Scooter Market Set to Hit USD 8.3 Billion by 2032, with 5% CAGR Growth | FMI Reports

The waterproof e-scooter market is projected to grow at a CAGR of 5%, increasing from USD 5.1 billion in 2022 to USD 8.3 billion in the coming years. Research by FMI reveals that over 71% of e-scooter models now feature water resistance ratings, a significant rise from just 40% in 2021. This surge in waterproof features has led to increased sales.

During this growth phase, waterproof e-scooters are expected to see the fastest sales. Key enhancements such as improved performance (speed and range), a stronger stem clamp, a fourth-generation frame, updated multi-switches, turn signals, a motorcycle-grade horn, a dual-purpose footrest, and a larger rubber deck are driving demand for these vehicles.

With some e-scooters reaching top speeds of 62 mph, they rival high-performance vehicles, further increasing the appeal of waterproof options. The ease of use of waterproof e-scooters, such as the Dualtron Thunder 2, which boasts a high-capacity battery providing up to 106 miles of range, also contributes to rising interest. High-quality battery cells enhance efficiency and energy density, promoting market growth.

Major brands like Xiaomi, Ninebot, and Aovo offer a diverse selection of waterproof electric scooters, which is expected to boost market revenue. The growing awareness of changing weather patterns and rising fuel costs has led to increased market share for waterproof e-scooters.

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However, a significant challenge remains: no electric scooter on the market can truly claim to be fully waterproof. While many scooters can withstand rain and snow, they are classified as water-resistant rather than waterproof. Customer demand is shifting towards scooters that are entirely waterproof and can travel greater distances, posing a major barrier to the expansion of the waterproof e-scooter market.

KEY TAKEAWAYS:

By type, two wheel category is expected to lead the waterproof E-Scooter market during the forecast period.
By IP rating, IP65 category dominated the waterproof E-Scooter market, due to its durability to last in every climate.
During the forecast period, the OEM segment is expected to dominate the waterproof E-Scooter market.
With the rising popularity of waterproof E-Scooters and increased spending on waterproof E-Scooter, the United States leads the market.
China waterproof E-Scooter market is forecast to grow at a highest CAGR of 18.7 during the forecast period.
Japan waterproof E-Scooter market is expected to develop rapidly in the global waterproof E-Scooter industry with a CAGR of 13.5% from 2022 to 2032.

COMPETITIVE LANDSCAPE:

Key companies profiled in the waterproof E-Scooter market report include Xiaomi Corporation, Voro Motors, Segway, Apollo Scooters, GOTRAX, Aovopro , INOKIM, and KAABO.

Many players in the waterproof E-Scooter market are focusing on launching stores in several countries as part of a joint venture strategy to expand their global reach. To extend their market share, leading market players are focused on various growth strategies such as research and development, mergers and acquisitions, and the launch of new waterproof E-Scooters.

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Key Segmentations

By Product Type:

Unicycle
Two Wheeler
Three Wheeler

By Wattage:

Up to 250 Watt
250 to 450 Watts
450 to 700 Watts
Above 700 Watts

By Battery Health:

Healthy
Good
Bad
Worst

By Distribution Channel:

OEM
E-Commerce
Others

By Type:

Lithium Ion Battery
Sealed Lead Acid Batteries
Nickel Metal Hydride Batteries
Others

By Regions:

Asia Pacific
North America
Europe
Middle East & Africa
Latin America

RECENT DEVELOPMENT:

Partnerships, Product Launches, Collaborations, and Agreements:

Xiaomi released the Mi Electric Scooter Pro 2 in 2021. It’s a customized Mercedes-AMG Petronas F1 Team Edition with a top speed of 25 km/h and a range of 45 kilometers.
In 2022, Aovo launched Aovo M365. It has a large and intelligent battery of 10.4 AH and a 350 W motor. Its brushless motor is one of its distinguishing features. This motor may easily allow your M365 Pro to go 30 to 35 kilometers after charging it 100 percent.

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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Global High Density Cell Banking Market Projected to Grow at 8.4% CAGR, Reaching USD 29.39 Billion by 2032

The global high density (HD) cell banking market is poised for significant growth, with a projected Compound Annual Growth Rate (CAGR) of 8.4% during the forecast period. According to the latest market analysis, the market was valued at USD 13.12 billion in 2022 and is anticipated to reach USD 29.39 billion by 2032.

High density (HD) cell banking plays a crucial role in various fields such as drug development, biological research, and medical applications, driving its increasing demand. This process involves storing cells belonging to a specific genome, which significantly reduces delays in research and medical procedures. The market is expected to grow steadily, capturing a substantial market size over the forecast period.

Get Access to Sample Now High Density Cell Banking Market

The burgeoning demand for high density (HD) cell banking stems from its extensive use in biotechnology and the medical sector. Moreover, the market is propelled by the rising applications of biological drugs, advancements in cell culture techniques, and the flourishing life sciences sector.

A significant driver for the market expansion is the growing demand for research in therapeutic areas, particularly in cancer research. The enhanced retention capabilities of high density cell banking contribute to increased productivity, further fueling the growth of the market.

With the increasing focus on innovative medical solutions and advancements in biotechnology, the high density (HD) cell banking market is expected to witness robust growth in the coming years. Stakeholders in the biopharmaceutical, healthcare, and research industries are poised to benefit from this upward trajectory.

High-Density Cell Banking Market: Key Drivers and Restraints

Drivers:

Rising R&D Spending: Increased investment in research and development within the biotechnology and medical fields fuels the demand for HD cell banking.
Life Science Boom: The flourishing life science industry creates a greater need for efficient cell banking solutions.
Biological Drug Growth: The increasing use of biological drugs, manufactured through genetic engineering and cell culture techniques, drives the market.
High Cell Retention: HD cell banking offers superior cell retention within the culture, leading to higher productivity and market growth.
Stem Cell Research: Growing demand for stem cell research in areas like cancer and autoimmune diseases creates a strong pull for HD cell banking technology.
Industrial Enzyme Production: The rising adoption of cell culture processes for manufacturing industrial enzymes and proteins, particularly in developed and emerging economies, bolsters the market.

Restraints:

Low Technology Awareness: Limited awareness of HD cell banking technology, especially in emerging markets, can hinder market growth.
Technical Expertise Gap: A lack of skilled professionals with the necessary technical expertise to implement and manage HD cell banking systems can act as a restraint.

Overall, the High-Density Cell Banking market is expected to experience significant growth due to the strong drivers outweighing the current restraints. Increased awareness and development of technical expertise will further propel market expansion.

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High Density (HD) Cell Banking Market: Key Players

Some of the major players operating in the market for High Density (HD) Cell Banking are Genzyme Corporation, REPLIGEN CORPORATION, Pall Corporation, General Electric Company, Sartorius AG, Merck Millipore Thermo Fisher Scientific Inc. and others. Above manufactures are upgrading the traditional technology and concentrating on market penetration.

High Density (HD) Cell Banking Market: Segmentation

The global high density (HD), cell banking market, is classified on the basis of end user and regional presence.

Segmentation by End Users:

Pharmaceuticals Companies
Biotechnology Companies
Chemical & Material
Agriculture
Academic & Research Institutes

Regional analysis includes:

North America (U.S., Canada)
Latin America (Mexico, Brazil)
Western Europe (Germany, Italy, U.K, Spain, France, Nordic countries, BENELUX)
Eastern Europe (Russia, Poland, Rest Of Eastern Europe)
Asia Pacific Excluding Japan (China, India, ASEAN, Australia & New Zealand)
Japan
The Middle East and Africa (GCC, S. Africa, N. Africa, Rest Of MEA)

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Global Nasal Polyposis Treatment Market Poised for Significant Growth, Projected to Reach USD 8.8 Billion by 2033

The global nasal polyposis treatment market is on a robust growth trajectory, expected to achieve a valuation of USD 4.6 billion by the end of 2023. Driven by advancements in medical technology and increasing prevalence of chronic rhinosinusitis with nasal polyps, the market is anticipated to expand at a compound annual growth rate (CAGR) of 6.7% over the next decade. By the end of the forecast period in 2033, the market is projected to reach an impressive USD 8.8 billion.

The rising incidence of chronic rhinosinusitis with nasal polyps, particularly among the elderly population, is a significant factor propelling the growth of the nasal polyposis treatment market. This condition, characterized by prolonged inflammation of the sinuses, often leads to the development of nasal polyps, which are non-cancerous growths that can cause considerable discomfort and impair breathing.

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Additionally, the surge in inflammatory diseases globally is contributing to the increasing demand for effective nasal polyposis treatments. As the prevalence of these conditions rises, so does the need for innovative and efficient treatment options.

Technological advancements in the removal of nasal polyps have also played a crucial role in market expansion. Enhanced surgical techniques and the development of novel therapeutic treatments are providing better outcomes for patients, thereby boosting market growth. Increased investment in research and development is expected to yield new and more effective therapies for nasal polyps, further driving the market forward.

The nasal polyposis treatment market is set to undergo significant transformation over the coming years, fueled by these advancements and the growing demand for effective treatments. Stakeholders and investors in the healthcare sector can expect substantial opportunities as the market evolves.

Key Takeaways from the Market Study:

Global nasal polyposis treatment market to expand nearly 2x from 2023 to 2033
Corticosteroids account for 55% of all nasal polyposis treatment types, expanding at a 9% CAGR
More than 3 out of 5 nasal polyposis treatment procedures occur in hospitals
North America to be an emerging hub for treating nasal polyposis, accumulating a 41.5% revenue share
Asia Pacific to experience noteworthy investments, expected to clock a CAGR of 7% until 2033

“Rapid product approvals, innovation of effective drugs, and surging research and development activities will bolster the market growth of Nasal Polyposis treatment”, comments an FMI analyst.

Competitive Landscape:

The Nasal Polyps Treatment Market is competitive and consists of several major players. Major players are creating novel delivery systems for the treatment of nasal polyps. This is expected to propel nasal polyposis treatment market. The major players in the market are:

Sanofi S.A
Merck & Co. Inc.
OptiNose USA Inc.
Intersect ENT Inc.
Pfizer Inc.
Regeneron Pharmaceuticals Inc.
GSK plc.
F. Hoffmann- La Roche Ltd.
Teva Pharmaceutical Industries Inc.
Novartis AG

Some Recent Developments In The Market Are As Follows:

In July 2021, GlaxoSmithKline plc. (GSK) declared that Nucala (Mepolizumab) is approved by United states FDA for chronic bilateral nasal polyposis related with chronic rhinosinusitis
GSK Investigational Site Boise, Idaho, United states is working on a study to determine effectiveness and safety of Depemokimab (GSK3511294) in patients suffering from chronic rhinosinusitis with nasal polyposis. It is presently doing phase 3 trial and will complete this study by January 2025.
In 2020, the United States Food and Drug Administration approved authorised use of Dupixent for adults with nasal polyps accompanied by chronic rhinosinusitis. It is the first treatment approved for uncontrolled chronic rhinosinusitis with nasal polyps and also reduces dependence on nasal polyp surgery and oral steroids.
In 2020, Roche Holding AG, a pharmaceutical company, had successfully completed and declared the positive result from two Phase III multicenter studies evaluating Xolair for the treatment of adults with chronic rhinosinusitis with nasal polyposis.

Key Segments Profiled in the Nasal Polyposis Treatment Industry Survey:

By Type of Treatment:

Pharmacological Therapies
- Corticosteroids
- Antibiotics
- Leukotriene Inhibitors
- Others
Surgeries
- Polypectomy
- Functional Endoscopic Sinus Surgery

By End User:

Hospitals
Ambulatory Surgical Centers
Specialty Clinics

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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Global Leukocyte Adhesion Deficiency Management Market Set to Flourish: Projected to Reach USD 15.2 Billion by 2033

The global leukocyte adhesion deficiency management market is poised for significant growth, with a projected valuation of USD 15.2 billion by 2033, according to recent market analysis. In 2023, the market was valued at USD 8.09 billion, marking a substantial upward trajectory. The forecast, spanning from 2023 to 2033, anticipates a Compound Annual Growth Rate (CAGR) of 6.51%, underscoring the expanding opportunities within this vital sector of healthcare.

Advancements in technology and the relentless progress of medical science have catalyzed the development of innovative treatments and therapies for a spectrum of disorders and diseases, contributing substantially to the market’s expansion. Additionally, government approvals and support, along with heightened awareness surrounding the treatment of primary immunodeficiency diseases, are key factors fueling the growth of the leukocyte adhesion deficiency management market.

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This robust market growth signifies a pivotal moment in the ongoing battle against immunodeficiency diseases. It underscores the collective commitment of healthcare professionals, researchers, policymakers, and stakeholders worldwide to enhance patient outcomes and improve the quality of life for those affected by these conditions.

As the market continues to evolve, stakeholders are urged to collaborate, innovate, and invest in research and development initiatives to further advance treatment modalities and address unmet medical needs in the field of leukocyte adhesion deficiency management.

Key Takeaways:

North America is expected to dominate the industry while reaching market share of around 40.5% by end of the forecast period.
The market in Asia Pacific is projected to reflect fastest CAGR of 6.9% during the projected timeline.
By treatment type, the hematopoietic stem cell transplantation segment is expected to dominate the industry with a market share of 38% by 2033.
Hospitals are projected to account for 71% market share by end-user, by end of 2033.
United States is expected to dominate the market of leukocyte adhesion deficiency treatment market in the region of North America.
In Asia-Pacific, China is projected to lead the market with a CAGR of 6.1% during the forecast period.

“Mounting research and development activities and increasing practices of utilizing stem-cell transplantation therapies to treat leukocyte adhesion deficiency will propel market during the forecast period,” comments an FMI Analyst

Competitive Landscape:

The global Leukocyte adhesion deficiency management market is highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition. The major players in the market are:

Orpha Labs
Avalo Therapeutics, Inc.
Rocket Pharmaceuticals Inc.
Sigma-Aldrich
Aspen Neuroscience
Magenta Therapeutics
Rubius Therapeutics
Enochian Biosciences
Sana Biotechnology
Vertex Pharmaceuticals

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Some Recent Developments In The Market Are:

In September 2022, Lactiga Therapeutics raised USD 1.6 million in oversubscribed pre-seed financing for developing therapeutics for patients with primary immunodeficiency diseases.
In April 2022, Pharming Group N.V. presented positive data from the pivotal Phase II/III trial of leniolisib for the treatment of activated phosphoinositide 3-kinase delta (PI3Kδ) syndrome (APDS), a primary immunodeficiency.

Key Segments Profiled in the Leukocyte Adhesion Deficiency Management Industry Survey:

By Treatment:

Hematopoietic Stem Cell Transplantation
Recombinant Human Interferon-gamma Treatment
Prophylactic Immunoglobulin Therapy
Antimicrobial Therapy
Prophylactic Therapy
Fucose Supplementation
Monoclonal Antibodies
Coagulation Factors

By End Users:

Hospitals
Specialty Clinics
Others

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

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Global Keratitis Treatment Market Poised to Reach USD 1,499.45 Million by 2033, Driven by Rising Incidence of Infectious Diseases | FMI

The global keratitis treatment market is on track for impressive growth, projected to reach over USD 789.89 million by the end of 2023, and surging to an estimated USD 1,499.45 million by 2033. This expansion represents a robust Compound Annual Growth Rate (CAGR) of 6% from 2023 to 2033, driven by several critical factors impacting the global healthcare landscape.

Keratitis, an inflammatory condition of the cornea often resulting in corneal blindness, is a significant public health concern worldwide. Its prevalence is notably high in regions with warmer temperatures and tropical climates, where the incidence of contagious diseases is more pronounced. The rising occurrence of neurotrophic keratitis (NK) is particularly alarming, with annual cases in the United States alone ranging from 56 to 67 per 100,000 individuals.

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The Asia Pacific market, in particular, is expected to witness significant growth due to educational campaigns and governmental initiatives aimed at improving medical facilities. Additionally, advancements in research and development are fueling the development of new treatments, further boosting market growth.

Despite challenges such as limited advancements in treatment options, significant investments in the keratitis treatment market offer promising opportunities for innovation and detection of ocular diseases.

Key Takeaways from the Market Study:

Sales increased significantly from 2018 to 2022, with a CAGR of 5.1%.
The average global prevalence of fungal keratitis was found to be about one million cases, with 8% to 11% of patients losing an eye.
With a market worth USD 200 million in 2021, Asia-Pacific is the second largest region.
The Asia-Pacific market is projected to expand at a 6.3% CAGR.
The global Keratitis Treatment market is predicted to be worth USD 1,499.45 million.

“Keratitis is becoming more prevalent as the number of individuals who wear contact lenses increases. The most common risk factors for infection are contact lens use, associated poor hygiene, and exposure to amoeba-infested waterways” says FMI’s analyst.

Key Market Players:

Alvogen
Bausch Health Companies Inc.
Gilead Biosciences Inc.
Glenmark Pharmaceuticals
Leadiant Biosciences
Merck & Co. Inc.
Aurolab
Eyevance Pharmaceuticals LLC
Pfizer Inc.
Novartis AG

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Recent Development:

Pfizer Inc. finished the contract to spin off its Upjohn Business and integrate it with Mylan N.V. to form Viatris Inc. in November 2020.
Bausch Health Companies Inc. reached an agreement in September 2020 to procure an opportunity to buy all of Allegro Ophthalmics’ ophthalmology resources.

Key Segments Profiled in the Keratitis Treatment Industry Survey:

By Keratitis Types:

Noninfectious Keratitis
Infectious Keratitis
- Bacterial Keratitis
- Fungal Keratitis
- Viral Keratitis
- Acanthamoeba Keratitis

By Treatment:

Topical Antibiotics
Antifungals
Antiviral
Biocides

By End Users:

Hospitals
Specialty Clinics

By Region:

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

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