Market Research Blog – Page 1915 – New Product Development

Automotive Performance Accessories Market Forecasted to Reach USD 546.4 Million by 2033

MRB-Automotive Performance Accessories Market

In 2023, the Automotive Performance Accessories Market is expected to be worth USD 352.9 Million. The market is expected to reach USD 546.7 Million by 2033, expanding at a 4.5% CAGR throughout the forecast period. Automotive performance accessories play a crucial role in enhancing the overall performance, aesthetics and handling of vehicles.

These accessories consist of a wide range of products including engine components, suspension systems, exhaust systems, brakes and Power adders. By integrating these accessories, automotive enthusiasts can unlock the full potential of their vehicles, achieving improved speed, handling and overall performance

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The rising consumer interest in sports, vintage cars, and customized vehicles has created a need for a diverse range of performance accessories. Vintage car owners, in particular find it essential to enhance the aesthetics and overall performance of their vehicles. The growing popularity of off-road vehicles, such as Jeeps and trucks which are commonly used for adventure touring, drives the demand for calibrated suspensions and improved braking systems. North America and Japan underground racing remains a hobby consistently for many car enthusiasts prompting them to continuously upgrade their vehicles with high-performance accessories to compete against fellow car owners.

Manufacturers are confronted with design limitations as their accessories finds use in various vehicles that necessitate customized fittings to accommodate the space restrictions. The surge in vehicle modifications has contributed to a notable rise in sound and air pollution, prompting governments worldwide to implement stringent regulations to control emissions and noise levels. Such regulations include imposing fines on vehicles equipped with pollution-promoting accessories consequently dampening consumer demand.

The popularity of motor racing sports and off-road events drives the demand for high-performance accessories. Consumers modify their cars and trucks by installing front-fitted exhaust systems and performance parts like fuel & air intake systems. With the rise of the electric vehicle sector, performance accessories manufacturers can expand their product portfolio to cater to this developing market. Currently EV users primarily utilize a limited range of performance accessories, mainly focusing on brake and suspension systems. Expanding the product offerings for EVs presents an opportunity for manufacturers to tap into this growing industry.

Active suspension system is a type of accessories which improves vehicle handling and stability, benefiting sports car drivers on the track and The Active exhaust valve systems allow customizable sound profiles ranging from quiet and refined to aggressive and sporty. They also safeguard the engine by opening the valve automatically when RPM exceeds 5,000 preventing damage from closed exhaust valves.

Key Takeaways from the Automotive Performance Accessories Market:

The Automotive Performance Accessories industry in the United States is predicted to reach USD 92.8 Million by 2033, increasing at a 4.7% CAGR.
During the forecast period, the Automotive Performance Accessories industry in China is expected to reach a market share of USD 109.2 Million, securing a 4.7% CAGR.
The Automotive Performance Accessories industry in Japan is predicted to reach USD 43.7 Million by 2033, increasing at a 4.5% CAGR.
With a CAGR of 4.7% from 2022 to 2033, Exhaust system is expected to dominate the Automotive Performance Accessories industry.
With a market share of 62.3% from 2022 to 2033, Passenger car segment is expected to dominate the Automotive Performance Accessories industry.

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Segmentation Analysis of the Automotive Performance Accessories Market

By Product Type:

Exhaust Systems
- Headers
- Mufflers
- Oxygen Sensors
- Exhaust Pipes
Suspension Parts
- Suspension Bushing
- Sway Bars
- Shock Absorbers
Brakes
- Brake Pads
- Brake Rotors
- Brake Caliper
- Brake Lines
- Brake Master Cylinders
- Vacuum Pumps
Fuel Air & Intake Systems
- Air Filters
- MAF Sensor
- Intake Manifold
- Throttle Bodies
- Fuel Filters
- Spark Plugs
- Fuel Injectors
- Fuel Pumps
Transmission Parts
- Clutch Pressure Plates
- Flywheels
- Torque Converters
- Clutch Linkage
Power Adders
- Turbochargers
- Intercoolers
- Nitrous Oxide Systems
- Superchargers

By Vehicle Type:

Passenger Cars
- - Compact
  - Mid-Size
  - SUV
  - Luxury
Light Commercial Vehicles
Heavy Commercial Vehicles

By Sales Channel:

First Fit
Aftermarket

By Region:

North America
Latin America
Eastern Europe
Western Europe
East Asia
South Asia & Pacific
The Middle East & Africa

How Does the Competition Look in the Automotive Performance Accessories Market?

The Automotive Performance Accessories industry has a highly competitive landscape, with a significant number of players vying for market share. Several significant participants in this industry comprise Tenneco Inc., Brembo, Robert Bosch GmbH, Continental AG, BorgWarner Inc., Mahle GmbH, Donaldson Company Inc., Holley Performance Products, Mitsubishi Heavy Industries, Ltd., Honeywell International Inc. among other companies.

The major companies are heavily spending in research and development efforts to create innovative and inventive goods with enhanced effectiveness, dependability and affordability. They are also focusing on expanding their product line and strengthening their distribution methods in order to fulfil shifting consumer expectations.

Tactical alliances and partnerships with other companies are becoming more common in the industry, allowing parties to leverage one another’s strengths and expand their market influence. Consolidation and mergers are being utilized by leading players to fortify their market standing and acquire entry to fresh markets.

Key firms are enhancing their distribution networks and developing local manufacturing facilities to increase their presence in these areas. In order to achieve a competitive advantage they are also focusing on providing cost-effective solutions to customers in these markets.

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,
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Methyl Ethyl Ketone Peroxide (MEKP): A Market with Huge Potential and Growth Opportunities

Methyl Ethyl Ketone Peroxide (MEKP) Market

Methyl ethyl ketone peroxide (MEKP) is expected to reach a valuation of nearly USD 5 billion by the end of 2028, with a compound annual growth rate (CAGR) of 4.8% to 5% from 2022 to 2032.

Methyl ethyl ketone peroxide (MEKP) is a type of organic peroxide. It is a colorless liquid oily in nature. Methyl ethyl ketone peroxide (MEKP) is highly sensitive for shock, friction, flame, heat, and other sources of ignition, therefore the production of methyl ethyl ketone peroxide is a risky process, and it needs strict following of safety norms in production, storage and transportation of methyl ethyl ketone peroxide (MEKP).

Methyl ethyl ketone peroxide (MEKP) is manufactured from hydrogen peroxide and methyl ethyl ketone, in a controlled reaction environment. Methyl ethyl ketone peroxide (MEKP) is majorly used in resin and polymer industry as a curing agent or as a hardening agent. It acts as a catalyst for initiation of curing reaction in various polymers and composites.

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Market Dynamics of Methyl Ethyl Ketone Peroxide (MEKP) Market

Increasing polymer and composite industry is expected to push the growth of methyl ethyl ketone peroxide (MEKP) demand

Increasing demand for lightweight and high performance materials is driving the demand for composite materials from various industries including automotive, transportation, aerospace, defense, and other manufacturing. Growth in demand for composites and FRP is expected to boost the demand for curing agent which will in turn accelerate demand for methyl ethyl ketone peroxide (MEKP).

Methyl ethyl ketone peroxide (MEKP) is also used in the manufacturing of acrylic acid, which has large demand from various industries. Therefore rising acrylic acid market demand is expected to push the demand for methyl ethyl ketone peroxide (MEKP), during the forecast period

Explosive properties of methyl ethyl ketone peroxide (MEKP), and increasing safety norms by various countries, may impact the potential growth on the methyl ethyl ketone peroxide (MEKP) market

Methyl ethyl ketone peroxide (MEKP) is highly flammable and explosive in nature, therefore, risk is included in the production and handling of methyl ethyl ketone peroxide (MEKP). Increasing safety rules and regulations related to material handling and use may impact on growing opportunities for methyl ethyl ketone peroxide (MEKP) market.

Presence of alternative curing agents in the market is one of the big threat for the market growth, however, some of the properties of methyl ethyl ketone peroxide (MEKP) are favored by the composite and polymer manufacturers.

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Methyl Ethyl Ketone Peroxide (MEKP) Market: Regional Outlook

Asia Pacific led the global methyl ethyl ketone peroxide (MEKP) market, due to increasing demand from growing polymer and composite industry in the region. Moreover, increasing middle class population in the emerging economies in Asia Pacific are supporting the industry in the region. High GDP growth in the region is also bolstering the industrial production and packaging industry which is expected to push the industrial demand growth for polymers reflected into growth in demand for methyl ethyl ketone peroxide (MEKP).

Europe followed Asia Pacific in terms of demand for methyl ethyl ketone peroxide (MEKP), however the stringent regulations in Europe is affecting the potential growth of the methyl ethyl ketone peroxide (MEKP) market in this region.

North America followed Europe methyl ethyl ketone peroxide (MEKP) market, expecting the significant growth over the forecast period. Increasing prices of raw materials in North America is reflecting into the prices of methyl ethyl ketone peroxide (MEKP). This is pushing the methyl ethyl ketone peroxide (MEKP) business in North America driving the global demand for methyl ethyl ketone peroxide (MEKP).

Global Methyl Ethyl Ketone Peroxide (MEKP) Market Participants

Some of the market participants identified across the value chain of global Methyl ethyl ketone peroxide (MEKP) market are:

Arkema
AkzoNobel Specialty Chemicals
Fibre Glast Developments Corp.
SHIV SHAKTI CATALYST
Redox Pty Ltd
Kawaguchi Chemical Co., Ltd.
Jacobson Chemicals Ltd
SAMUH LAXMI CHEMICALS (BOM) P. LTD.
Parchem fine & specialty chemicals
Freeman Mfg. & Supply Co.
Polymer Products (Phil), Inc.
Chemx
Link Composites Pvt. Ltd.

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Methyl Ethyl Ketone Peroxide (MEKP) Industry Survey

By Function:

Raw Material
Curing/Hardening agent

By Application:

Polymer Manufacturing
Composite Manufacturing

By Resin Type:

Polyester Resins
Vinyl Ester Resin
Other Resin

By Region:

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific excluding Japan
Japan
Middle East & Africa

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Projected Growth: Robotic Gripper Market Estimated to Thrive at 9.4% CAGR to USD 4.3 Billion by 2033

The robotic gripper market is estimated to secure a valuation of USD 1.7 Billion in 2023 and is projected to reach USD 4.3 Billion by 2033. The market is estimated to thrive at a CAGR of 9.4% during the forecast period.

How are Developing Countries Performing their Role in the Global Market?

Developing countries are capturing huge revenue in the global market. The growing economies and technological advancements in developing countries such as China, South Korea, and India drive the market size. These countries are heavily investing in research and development activities such as low-cost robotic grippers with highly skilled specialists.

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In China, industrial robots and their component production is growing rapidly. The Chinese government is supporting the expansion of the robotic industry by adding funds and several policies. The key companies in China include Zimmer Group, Estun Automation, Siasun, and Festo.

In India, manufacturers focus on developing unique, low-cost products to attract end users. The robotic grippers market growth is still at stage one in India, but the key companies are significantly achieving their goal with potential growth. The manufacturing, logistics, and healthcare sectors are gaining huge popularity while rapidly increasing the adoption of the robotic gripper.

South Korea also enhances the robotic sector through its research and development activities. The key companies are collaborating with research institutions to develop advanced robotic grippers in the country. The start-ups are coming up with a strong presence in the market with cutting-edge robotic grippers. The government also supports them in enhancing the robotics industry through their funding programs.

Key Takeaways from the Robotic Grippers Market Report:

Historically, the market captured a valuation of US$ 1 Billion in 2018.
The United States is anticipated to secure a CAGR of 45.3% in the global market during the forecast period.
India is estimated to predict a CAGR of 4.0% during the forecast period.
With a CAGR of 1.2%, Japan is significantly fueling the global market by 2033.

“The Robotic Grippers Market is experiencing robust growth, as indicated by the recent market research study. With the increasing adoption of automation and robotics in various industries, the demand for advanced and versatile robotic grippers has surged, driving market expansion. This trend is expected to continue, with key players in the industry constantly innovating to meet the evolving needs of automation in manufacturing and logistics.” – says FMI Analyst.

Which Strategies are Helping Key Players in the Global Market?

The strategies in the global market are as follows:

Focus on Sustainability: The key companies are developing environment-friendly and sustainable products. Their focus on sustainability improves product quality and attracts end-users. This step is estimated to increase the demand for high-quality and advanced robotics grippers.
Strong Distribution Channel: The key players maintain their strong network to reach relevant consumers and increase brand value and product sales.
Strategic Partnerships: The companies are partnering with other essential players to expand their business and stay ahead of competitors in the market.
Technological Advancements: The key players are innovating products by adopting advanced technologies. Such as cutting-edge, artificial intelligence, and others. Through these technologies, they make excellent, high-quality products to fulfill consumers’ requirements.

Recent Developments in the Market are:

In 2021, OnRobot announced its new launch of the electric vacuum gripper VGP20. This gripper was designed to provide high-speed packaging with its customized vacuum feature.
In 2021, Zimmer Group announced its new gripper, GEP4000. The gripper is designed for heavy loads and provides high gripping force in the manufacturing and automotive sectors.

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Prominent players in the robotic gripper market:

SCHUNK GmbH & Co. KG
Soft Robotics, Inc.
Piab AB
Applied Robotics
ABB Limited
Grabit Inc.
Yaskawa America, Inc.
J. Schmalz GmbH
Festo AG & Co. KG
Onrobot
Bastian Solutions
Coval Vacuum Technology Inc.
Brenton Engineering
Kuka Roboter GmbH
Destaco

Robotic Gripper Market Segmentation:

By Product Type:

Jaw Gripers
Angular & 3-jaw Grippers
Ring Grippers
Needle Grippers
Vacuum Cups
Magnetic Grippers
Special Purpose Grippers
Others

By Application:

Material Handling
General Assembly
Inspection & Others

By End Use:

Automotive & Transportation
Electronics & Semiconductors
Food & Beverages
Chemicals & Pharmaceutical
Logistics
Healthcare
Others

By Region:

North America
Europe
Latin America
Asia Pacific
The 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 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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Automotive Tire Accessories Market to Surpass USD 75.5 Billion by 2033 with 5.7% CAGR

The global Automotive Tire Accessories Market is expected to reach USD 75.5 Billion by 2033, growing at a healthy 5.7% compound annual growth rate (CAGR) over the course of the forecast period. Automotive tire accessories, such as tire chains and tire pressure gauges, can help improve the efficiency of industrial processes by ensuring that equipment is operating at optimal levels.

By reducing the risk of equipment failure and improving efficiency, automotive tire accessories can help save money by reducing the need for repairs and downtime. The increased need for growth of urbanization are driving up the price of automobile tire accessories such as tire inflators, TPMS, tire repair kits and tire coverings. Businesses and automakers are boosting demand for these accessories because they understand how important they are for improving vehicle efficiency and security. Additionally, there is a growing need for tire attachments that encourage eco-friendly and efficient driving due to the negative health impacts of air pollution.

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The automotive tire accessories market also faces certain challenges. High initial costs and maintenance expenses are significant barriers for new companies entering the industry. These factors raise concerns among end-users about the overall cost of ownership. Additionally, the market faces competition from alternative solutions that offer comparable benefits at a lower price point.

Numerous chances are boosting the market for automobile tire accessories. As a result of the need for air pollution control measures brought on by the expanding economies, there is a demand for accessories that improve vehicle efficiency and lower emissions. By ensuring that equipment is operating at optimal levels, automotive tire accessories can help improve workplace safety by reducing the risk of accidents and equipment failure.

Industry participants can also leverage the expanding market potential by embracing technological advancements. The development of hybrid tire accessories that combine multiple functionalities offers improved performance and efficiency. Moreover, digital technologies such as the Internet of Things (IoT) and Artificial Intelligence (AI) are being employed to optimize the operation and maintenance of tire accessories. These technologies contribute to lower maintenance costs, increased device efficiency, and reduced downtime.

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Key Takeaways from the Automotive Tire Accessories Market:

The automotive tire accessories market in the United States is estimated to capture a market share of USD 8.33 Billion by 2033, growing at a CAGR of 5.2% during the forecast period.
In China, the automotive tire accessories market is expected to reach a market size of USD 6.79 Billion, with a CAGR of 6.0 % from 2022 to 2033.
The automotive tire accessories market in Japan is predicted to reach USD 781.2 million by 2033, expanding at a CAGR of 5.9%.
The passenger vehicle segment is expected to hold the largest market share in the automotive tire accessories industry during the forecast period.

Segmentation Analysis of the Automotive Tire Accessories Market

By Product Type:

Tire Inflators
Tire Pressure Monitoring Systems (TPMS)
Tire Repair Kits
Tire Covers
Tire Gauges
Tire Chains
Wheel Covers
Valve Caps

By Vehicle Type:

Passenger Vehicles
Commercial Vehicles

By Distribution Channel:

Original Equipment Manufacturer (OEM)
Aftermarket

By Region:

North America
Latin America
Western Europe
Eastern Europe
East Asia
South Asia
The Middle East & Africa

How Does the Competition Look in the Automotive Tire Accessories Market?

There is fierce competition among many manufacturers for market dominance in the automobile tire accessories market. Bridgestone Corporation, Michelin Group, Continental AG, Goodyear Tire & Rubber Company, and Pirelli & C. S.p.A. are a few of the major players in this market.

These large firms are making significant investments in Research and development to bring unique, cutting-edge products to market. To satisfy the changing needs of customers, their focus is on improving tire accessories’ efficiency, toughness, and price. To meet a variety of customer needs, they are also enhancing their distribution networks and diversifying their product lines.

Leading players also use mergers and acquisitions to strengthen their market positions and broaden their product lines. These tactical choices aid them in gaining a competitive edge, diversifying their portfolios, and entering new markets.

Particularly in developing nations, the market for vehicle tire accessories is expanding significantly. By creating regional manufacturing facilities and fortifying their distribution networks, major businesses are actively growing their operations in these markets. In order to meet the unique requirements and price sensitivities of the clients in these areas, they are likewise concentrated on offering affordable solutions.

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Significant Growth: Building Automation Systems Market Projected to Hit USD 96,264 Million by 2033, with a CAGR of 7.4%

The building automation systems market size is projected to be valued at USD 47,800 Billion in 2023 and is expected to rise to USD 96,264 Million by 2033. The sales of building automation systems are expected to grow at a significant CAGR of 7.4% during the forecast period.

The market for building automation systems is expected to develop as a result of the growing deployment of these systems in office buildings, shopping centres, and public transportation hubs like train stations and airports.

The global market for building automation systems has been driven by the Internet of Things’ increased popularity, increasing government and private sector activities, and rising security concerns.

Additionally, wireless protocols and sensor networks are developing more quickly. Moreover, the intervention of industry 4.0 and rapidly evolving cloud technologies would further contribute towards market expansion.

Furthermore, throughout the period of 2023 to 2033, government measures to lower carbon emissions and improve energy efficiency are projected to offer attractive chances for the market to expand.

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Key Takeaways from the Building Automation Systems:

S. to generate a revenue of US$ 23.6 Billion by 2033 as sales of building automation systems will continue to be driven by the rapid adoption of technology in commercial and industrial activities.
K would likely to contribute a share of US$ 5.2Bn by 2033 due to adoption of smart home devices and favorable regulation laid by authorities.
China is the most lucrative region among all with a growth trajectory of 9.6% as the idea of building automation systems is still relatively new in China, market players are able to increase their market share and provide cutting-edge BAS solutions there.

“The study underscores the growing adoption of smart technologies, projecting a significant surge in the Building Automation System market due to its ability to streamline operations and deliver sustainable solutions for modern buildings.”– Says FMI Analyst.

Competitive Landscape:

As a part of their growth strategies, leading players operating in the global building automation systems market are emphasizing on product developments, intensive research and development, and strategic collaborations, mergers, and acquisitions to establish a firm foothold in the market. For instance:

In August 2021, Schneider Electric, a global data center hardware giant, entered an on-demand leasing program hardware deal with American Power Conversion line for uninterruptable power supplies (UPS). The partnership will allow channel partners to offer improved visibility and front-end maintenance across their customers’ UPS systems.
In July 2021, ASM Global, a global leader of entertainment experience, announced a strategic collaboration with Honeywell International, a leader in connected buildings, to create smarter and safer venue operations and more enjoyable audience experiences across ASM’s diverse portfolio.

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Key Players

Honeywell International
Beijer Electronics
ABB
Siemens AG
Johnson Controls
Schneider Electric
General Electric
Legrand
Lutron Electronics Co
Control4 Corporation

Key Segmentations

By System:

Security & Surveillance
HVAC
Lighting Solutions
BEMS (Building Energy Management)

By Application:

Commercial
Residential
Government

By Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
The 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 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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Automotive Intermediate Shaft Market Projected to Hit USD 8,501.4 Million by 2033 with Steady 2.8% CAGR

MRB-Automotive Intermediate Shaft Market

In 2023, the Automotive Intermediate Shaft Market is expected to be worth USD 6450.0 Million. The market is expected to reach USD 8,501.4 Million by 2033, expanding at an 2.8% CAGR throughout the forecast period. The Automotive Intermediate shaft Market is driven by several factors, such as increasing automotive production, technological advancement and growing focus on fuel efficiency.

Automotive intermediate shafts are becoming necessary as a result of the growing demand for automobiles and the rise of the automotive industry. The need for automotive intermediate shafts is also being driven by the expansion of automotive manufacturing enterprises and the production of vehicles worldwide. The increased demand for these components is also being fueled by the growing awareness of the importance of efficient power transmission and the impact of the powertrain system on vehicle performance.

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The automotive intermediate shaft market also faces several obstacles, including high initial costs, maintenance expenses, and a lack of suitable alternatives. These challenges can impact the growth and adoption of automotive intermediate shafts in the industry.

The automotive intermediate shaft market is also filled with opportunities, but it also faces due to raw material price fluctuations and global economy condition. However, there are factors that can contribute to the expansion of the automotive intermediate shaft sector.

The automotive intermediate shaft market is also witnessing the emergence of cutting-edge technologies and the expanding use of digital technology, which are the most recent trends in the industry. These trends have the potential to shape the future of the automotive intermediate shaft market.

Automotive intermediate shafts can benefit from the integration of multiple technologies to improve their functionality and performance. For example, the combination of lightweight materials, advanced manufacturing techniques, and innovative design approaches can result in intermediate shafts with reduced weight, improved strength, and optimized power transmission efficiency. Integrating technologies such as hybrid powertrain systems and advanced sensors can further enhance the performance and functionality of intermediate shafts.

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Digital technologies, including additive manufacturing (3D printing) and digital simulations, are revolutionizing the manufacturing processes of automotive intermediate shafts. These advancements enable the production of complex geometries, customized designs, and streamlined manufacturing, resulting in greater design flexibility, optimization, reduced lead times, and improved overall efficiency.

Key Takeaways from the Automotive Intermediate shaft market:

The Automotive Intermediate shaft market in the China is predicted to reach USD 2,162.6 Million by 2033, increasing at a 3.4% CAGR.
The Automotive Intermediate shaft market in the Germany is estimated to reach a market share of USD 693.5 Million, expanding at a CAGR of 3.0 % by 2033.
During the forecast period, the Automotive Intermediate shaft market in Japan is expected to reach a market share of USD 792.1 Million, securing an 2.60% CAGR.
With market share of 70% 2022 to 2033, the Passenger car segment is expected to dominate the Automotive Intermediate shaft Market.
With a CAGR of 3.0% from 2022 to 2033, the Solid shaft segment is expected to dominate the Automotive Intermediate shaft market.

Segmentation Analysis of the Automotive Intermediate shaft Market

By Shaft Type:

Solid Intermediate Shaft
Hollow Intermediate Shaft

By Material:

Steel Intermediate Shaft
Aluminium Intermediate Shaft
Composite Intermediate Shaft

By Vehicle Type:

Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles

By Sales Channel:

OEM
Aftermarket

By Region:

North America
Latin America
Western Europe
Eastern Europe
Central Asia
Russia & Belarus
Balkan and Baltic Countries
East Asia
South Asia and Pacific
Middle East & Africa

How Does the Competition Look in the Automotive Intermediate shaft market?

The Automotive Intermediate shaft market has a highly competitive landscape, with a significant number of players vying for market share. Several significant participants in this industry comprise GKN Automotive Limited, NTN Corporation, Dana Incorporated, JTEKT Corporation, Nexteer Automotive and among other companies.

The main players are notably investing in research and development endeavors to create novel and inventive goods that provide improved effectiveness, dependability, and affordability. They are additionally concentrating on broadening their range of products and reinforcing their distribution channels to meet the changing demands of clients.

Tactical alliances and associations with other corporations are progressively prevalent in the sector, enabling participants to utilize one another’s capabilities and broaden their influence in the marketplace.

Consolidation and mergers are being utilized by leading players to fortify their market standing and acquire entry to fresh markets. The sector is experiencing notable expansion in developing economies, especially in nations such as China.

Key players are expanding their presence in these markets by establishing local manufacturing facilities and strengthening their distribution networks. They are also focusing on offering cost-effective solutions to customers in these markets to gain a competitive edge.

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Future Trends: Gypsum-Free Plaster Market Expected to Expand at 3.4% CAGR Through 2032

During the forecast period of 2022–2032, the global market for gypsum-free plaster is expected to grow at an average CAGR of 3.4% and reach a valuation of USD 4 billion. The market for gypsum-free plaster is growing due to elevated environmental consciousness, a more aware global population, and changes in consumer preferences.

One of the most commonly used plaster forms, gypsum-based plaster is preferred over conventional sand cement plaster. This is due to the lightweight, easy-to-apply, able to provide superior finish properties of gypsum. It also makes for a shorter turnaround time. Nevertheless, prolonged usage of gypsum has resulted in severe environmental consequences. This has fostered an environment of growth for the gypsum-free plaster market.

Rapidly evolving construction industry along with a strong emphasis on green and sustainable building will supplement market growth for gypsum-free plasters. At present, a greater part of the world’s population prefers gypsum-free plasters or similar alternatives. This boosts the sales of gypsum-free plaster products in the global market. Furthermore, the introduction of new and innovative products in the gypsum-free category is expected to fast-track the growth of the gypsum-free plaster market.

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“Growing construction activities coupled with an emphasis on green building and stringent regulatory policies will promote growth in the market over the assessment period,” says an FMI analyst.

Key Takeaways:

The demand for green building and sustainability in construction sector will help expand the gypsum-free plaster market
Limelite, a gypsum free product launched by Tarmac, will continue to gain traction due to its ability to battle issues of dampness, trapped moisture, and mold.
Increasing spending on construction ensures gypsum-free plaster market growth in Canada, the U.S. and Mexico.
The U.S spent around US$1,744,801 Mn in the construction sector in April, 2022. This is expected to boost the gypsum-free market in the region.
Asia Pacific presents a lucrative market for gypsum-free plaster products due to evolving construction sector and stress on green building
Emerging economies in Asia Pacific region like China and India are expected to foster market growth

Competitive Landscape

Tarmac, Knauf AG, Global Mining company, Yoshino Gypsum Co. Ltd., Jonoub Gypsum, Saint Gobain, American Gypsum, Georgia Pacific, Zawami Minerals Co., and Gypsona among others are a few of the key players of the gypsum-free plaster market that are profiled in the full version of the report.

Key players in the global gypsum-free plaster market are invested in introducing new and innovative gypsum-free plaster solutions into the global market. Mergers, acquisitions, partnerships, and collaborations are certain strategies that these market players engage in to gain a competitive advantage.

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More Insights into the Gypsum-free Plaster Market Report

In its latest report, FMI offers an unbiased analysis of the global gypsum-free plaster market, providing historical data from 2017 to 2021 and forecast statistics for the period 2022-to 2032. To understand the global market potential, growth, and scope, the market is segmented based on product type (modified quick binding high strength cement, quick binding cement lute, gypsum free quick binding high strength cement, quick setting high strength cement), application (ordinary portland, white, aluminous, others) and region.

According to market insights, Asia Pacific is presenting a substantial growth in the global gypsum-free plaster market. This is primarily owing to the high demand for green building and rising construction sector in emerging economies like China and India. This is further aided by government initiatives and investments.

Increased spendings in the construction sector as well as stress on green and sustainable building are propelling gypsum-free plaster market growth in Canada, Mexico, and the U.S. Government initiatives in developing public infrastructure and changing consumer preferences are contributing factors to the market growth.

Concerns over the adverse environmental impact due to extensive use of gypsum, availability of novel gypsum free products and rapid development of building and construction sector are propelling market expansion for gypsum-free plaster.

Gypsum-free plaster market still has to overcome certain limitation to continue expanding and growing. Wide range of application provided by gypsum products and lack of easy access to gypsum-free products by developing and underdeveloped regions are challenges that the market has yet to overcome.

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Robust Growth Projected for High Carbon Bearing Steel Market: Expected to Hit USD 269 Billion by 2032

The global market for high carbon bearing steel was projected to be worth USD 139.6 billion in 2022. As a result of the growing need for highly efficient and lightweight bearings in industries like marine, construction, and automotive, it is anticipated that global sales of high carbon bearing steel will rise at a robust compound annual growth rate (CAGR) of 6.9% between 2022 and 2032, approaching USD 269 billion by that year.

Bearing as an equipment is an integral part of numerous industries to achieve optimum and efficient results. Selecting the material during the bearing fabrication is one of the key factors that helps to decide the degree of performance of the bearing.

High carbon bearing steel as a material is witnessing increased adoption & attraction in bearing manufacturing. Numerous attributes of high carbon bearing steel such as high load bearing capacity and extensive temperature range of operation are expected to fuel the growth of the global market.

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High carbon bearing steel enables high level of efficacy in bearings, which further results in the reduction of resistance and increases the mobility or functioning of the component, and further assists in efficient working of the machineries.

High Carbon Bearing Steel Market: Regional Trends

Low manufacturing cost for the fabrication of bearing in China is expected to create substantial growth opportunities for the manufacturers, and is expected to drive the growth of the market. South East Asia Pacific is on the same track as of China in terms of growth as the region is involved in large production of bearings.

Western Europe has substantial production capacity of bearings, which is expected to fuel the growth of the high carbon bearing steel market in the region. With growing automotive and marine industries in North America, the region is expected to hold significant share in the global high carbon bearing steel market. Latin America, Eastern Europe & MEA are considered as the low volume–high growth markets.

High Carbon Bearing Steel Market Top Players

OVAKO
Sanyo Special Steel
CITIC Special Steel Group
Dongbei Special Steel
Juneng
Nanjing Iron & Steel United Co., Ltd.
JIYUAN Iron &Steel

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Key Segments Profiled in the High Carbon Bearing Steel Industry Survey

By Product Type:

High Carbon Chromium Bearing Steel
High Carbon Stainless Bearing Steel

By Application:

Deep Groove Ball Bearing
Cylindrical Roller Bearing
Spherical Roller Bearing
Angular Contact Ball Bearing
Tapered Roller Bearing
Thrust Ball Bearing
Thrust Spherical Roller Bearing

By Region:

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

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Projected Growth: Carbon Brush Market Set to Reach USD 4,503.6 Million by 2033, with a CAGR of 4.5%

The global carbon brush market is anticipated to exceed USD 4,503.6 million in 2033 as opposed to an estimated USD 2,900 million in 2023. The target market is slated to expand at an average CAGR of 4.5% from 2023 to 2033. Carbon brushes find extensive application in motors, generators, and other electrical equipment to transfer electrical current while preventing arching and electrical sparking. Additionally, the popularity of electric vehicles spurs the demand for carbon brushes in the electronic sector. The market for carbon brushes, thus, looks at a bright future owing to the aforementioned factors.

Historically, the carbon brush market recorded a CAGR of 3.4% from 2018 to 2022 and will likely create an absolute incremental opportunity of USD 1,603.5 million during this forecast period. Carbon brushes are made of soft material, are cost-effective, and commutator-friendly. These brushes have a high melting point and offer excellent conduction and temperature resistance. Additionally, proper care and maintenance of carbon brushes can further ensure extended shelf life. The better the quality of the brushes, the better the performance and efficacy of motors and generators. These aspects are expected to foster growth for the carbon brushes market in the international space.

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During the forecast period, carbon brushes will sustain steady growth owing to the high demand for the same from the electronic and automotive industries. Moreover, as sustainability is crucial for the manufacturing industry, carbon brushes will observe greater demand from this sector owing to their energy efficiency. The use of energy-efficient tools like carbon brushes enables sustainable manufacturing. Moreover, though manufacturers now focus on proper maintenance of carbon brushes, the market still witnesses a higher replacement rate which augurs well for the market. Again, technological advancements and surging manufacturing of electric motors across different industrial verticals will aid the expansion of the carbon brush market size in the forthcoming years.

Key Takeaways:

The rising awareness of the advantages of brushless motors over brushed motors will likely impede the growth of the carbon brush market.
An upsurge in energy efficiency requirements and increasing electrification of rail infrastructure will open new avenues of growth for the carbon brush market.
By product type, electro-graphite carbon brushes will observe high sales and bolster market growth.
Based on application, DC motor requirements will create immense demand for the market and account for 33.8% of the market share.
An advancing automobile sector will drive market growth in China.
As a prominent manufacturing center for carbon brushes, the US will witness significant growth during the assessment period.

Competitive Landscape

Mersen SA, Toyo Tanso Co., Ltd., Robert Bosch GmbH, Schunk GmbH, Aupac Co., Ltd., Helwig Carbon Products Inc., and National Carbon Brush Products, among others, are some of the leading players in the carbon brush market profiled in the full version of the report.

In a competitive environment, predominant market players are keen on expanding their production facilities. These companies also focus on product development and the launch of new products. A few other market participants employ mergers and acquisitions to gain a competitive edge. In a recent development, in January 2023, Bosch Power Tools released the GWS 800 Professional angle grinder which aims at making maintenance easy for consumers.

More Insights Into Carbon Brush Market

In its latest report, FMI offers an unbiased analysis of the global carbon brush market, providing historical data from 2018 to 2022 and forecast statistics for 2023 to 2033. The report presents a complete breakdown of market drivers, restraints, opportunities, and trends. For a comprehensive understanding of the global market potential, growth, and scope, the market is segmented on the basis of product type, application, sales channel, end-use, and region.

According to the same reports, based on segmentation, the industrial end-users will dominate the international marketplace. The surging adoption of automation across different industries will drive the growth of this segment. In terms of application, the increasing DC motor needs all over the world will propel the demand for carbon brushes.

Based on region, the carbon brushes market in East Asia will exhibit robust growth. The target market in this region will hold 30.4% of the market share. This growth can be attributed to the development of the carbon brush market in China. The growing automobile sector in China drives the growth of the carbon brushes market in the country which, in turn, drives the market forward in China. North America, too, displays significant growth in the market with a share of 26.1%. In conclusion, the growing demand for carbon brushes from the automotive industry and the contribution of East Asia and North America fuel the global growth of the carbon brush market.

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Key Segmentations

By Product Type:

General Graphite
Metal Graphite
Carbon Graphite
Electro Graphite
Silver Graphite
Resin-Bonded Graphite

By Application:

Motor
Generator & Alternator
Current & Signal Transmission
Grounding Devices

By Sales Channel:

OEM
Aftermarket

By End Use:

Automotive
Electrical Hand Tools
Industrial Application
Household Appliances
Security and Defence
Petrochemical
Energy
Healthcare

By Region:

North America
Latin America
East Asia
South Asia and Pacific
Western Europe
Eastern Europe
Central Asia
Russia and Belarus
Balkan and Baltics Countries
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 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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Growth Prospects for Blow-Molded Bottles: CAGR of 4.8% Expected by 2033 | FMI Study

The global demand for blow-molded bottles had strong growth, as evidenced by a noteworthy CAGR of 4.2% from 2018 to 2022. Furthermore, FMI surveyed that this growth trend raised the market’s worth to over US$ 90.3 billion by the end of the survey period in 2022.

By the end of this year, 2023, it is anticipated that the global market could reach a worth of over US$ 94.6 billion. Additionally, it is predicted that from 2023 to 2033, the worldwide sales of blow-molded bottles might expand at an accelerated CAGR of around 4.8%. It is predicted that this encouraging development trajectory can create a sizeable market opportunity of US$ 151.2 billion by 2033.

The rising sales of blow-molded bottles worldwide is getting supported by many trends that reflect a change in the global packaging landscape. Given their recyclable qualities and little environmental impact, these bottles have propelled themselves to the forefront of packaging options with a growing emphasis on environmental sustainability.

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The demand among end users has increased due to their tamper-evident packaging options that improve customer confidence and guarantee product purity. Because of their adaptability, blow-molded bottles have found utility in several businesses, including those that produce beverages, cosmetics, drugs, and home goods.

The global blow molded bottles industry is witnessing a transformation these days due to changed customer tastes, increased environmental concern, and changing industrial dynamics.

Key Takeaways from the Global Blow Molded Bottle Market Study Report by FMI

The demand for blow-molded bottles in the United States is expected to progress at a moderate CAGR of 4% during the forecast years. For the United States market players hoping to take advantage of the rising demand in the worldwide market, overcoming issues with regulatory compliance, production effectiveness, and marketing strategies might be crucial.
Many regional markets in Europe are anticipated to shift to recyclable and reusable packaging solutions in the forthcoming years. This forecast draws attention to the industry’s potential for significant growth, particularly in Germany and the United Kingdom.
With the alignment of environmental imperatives, varied industry uses, and industrial preferences for practical packaging, Asia Pacific’s market is expanding significantly nowadays. India, for instance, is figured out to witness an absolute dollar growth opportunity of US$ 6.1 billion over the next ten years.

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Competitive Landscape for the Blow Molded Bottle Market Players

Leading market participants in both the global and regional markets are now facing new possibilities and problems with emerging manufacturers entering the competition.

New market players are striving to stand out from the competition and develop close relationships with consumers by using distinctive forms, sizes, designs, and patterns. As digital printing technology advances, manufacturers could be better able to meet a wide range of consumer expectations by providing customized solutions to diverse sectors.

According to FMI, firms must use sophisticated production techniques and maintain a constant flow of products by developing flexible and effective supply networks. Moreover, they also have to manage changing regional rules and meet rising regional market expectations these days for ecologically friendly packaging.

About Future Market Insights Inc. (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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