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The global used electric vehicles market is estimated to be worth approximately US$ 17,890.5 million in the current year, with a projected compound annual growth rate (CAGR) of 8.4% over the forecast period. According to the latest analysis of the global used EV market, it is expected that the market’s total value will reach US$ 40,078.9 million by the year 2033.

The international movement against global warming has had a positive and unprecedented impact with demand for electric vehicles experiencing a growing shock in every area. The increasing viability and affordability of pre-owned EVs, the popularity of high-end models, and extra subsidies and discounts that purchasers may take advantage of have strengthened the market.

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To sum up, FMI predicts that electric cars are getting more and more affordable, irrespective of economic level, and the demand for used electric vehicles is anticipated to rise as time goes on!

Key Takeaways from the Used EV Market Study

• By having a huge market for electric vehicles than any other country, the United States is figured to have become the second leading market following Germany. The net worth of all used EVs purchased in the United States in 2022 summed up to US$ 1,429.3 million and acquired 8.7% of the global revenue.
• Germany, on the other hand, generated a revenue of US$ 2,217.8 million in 2022 from the resale of electric vehicles in the country. By the virtue of the presence of some of the leading used EV market players, it acquires 13.5% of the global market.
• Contrarily, the United Kingdom is one of the notable regions experiencing an above-average growth rate in the adoption of used EVs. In the present years, it is experiencing an annual growth rate of 12.6% which is expected to continue for the next ten years.
• Among the Asia Pacific countries, Japan is the leading region in the sale and resale of different types of electric vehicles. As per the survey report, the value of total used electric vehicles sold in the country was approximately US$ 575 million in 2022.
• Presently China is a remarkably growing region in the adoption of used EVs in the Asia Pacific region. According to the market analysis report, China used EV market is projected to register a CAGR of 9.8% over the forecast years.
• India is poised to set the record for demand and adoption of used EVs against any other country in the Asia Pacific. As per the experts at FMI, the annual growth rate of this emerging economy is anticipated to be around 9.8% from 2023 to 2033.
• Australia is another notable country studied for the market analysis for the recent rise in demand for used EVs in the country. Based on the used EV resale statistics figures, the net valuation of this used commodity in the country is expected to be around US$ 561 million by 2033.

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Competitive Landscape for the Used EV Market

Some of the renowned automotive companies that have also become used EV dealers are Audi AG, BMW AG, Hyundai Motor India, Jaguar Land Rover Limited, Mahindra and Mahindra Ltd., Mercedes-benz AG, MG Motor India PVT. Ltd., Olectra Greentech Limited, Tata Motors, and Toyata Motor Corporation among others.

Key Segments of Global Used EV Market

By Propulsion Type:

• Battery Electric Vehicles (BEV)
• Hybrid Electric Vehicles (HEV)
• Plug-in Hybrid Electric Vehicles (PEV)
• Fuel Cell Electric Vehicles (FCEV)

By Vehicle Type:

• Two-wheelers
• Passenger Cars
• Commercial Vehicles
• Others

By Vehicle Drive Type:

• Front Wheel Drive Electric Vehicles
• Rear Wheel Drive Electric Vehicles
• Others

By Region:

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

Author

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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:        

Nandini Singh Sawlani   

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
LinkedIn| Twitter| Blogs | YouTube

By the end of the year 2022, the overall size of the global Non OEM EV MRO Market reached US$ 372 million. The report predicts that the market would register a CAGR of 10.2% during the time period between 2023 and 2033. In the present year 2023, the non OEM EV MRO market is anticipated to generate US$ 411.8 million as per the analysis of FMI. With the acceptance of more and more non OEM components, the market is forecasted to reach US$ 1,087.7 million by 2033.

The desire of electric car owners to improve their EV performance in terms of exhaust sound, and acceleration as the primary driver. Further, the aesthetic factors, along with many other fringe elements for electric vehicles also require MRO services that would support the market.

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Key Takeaways from the Market Study Report

• With a higher percentage of electric car users, the United States is the leading region for the adoption of non OEM EV MRO services. According to the FMI survey report, it captures around 16.9% of the global market.
• Germany follows the United States by holding a market share of 11.7% and leads the non OEM EV MRO market in Europe. Having a strong manufacturing base for automotive parts and services, the German market generated a revenue of US$ 43.5 million in 2022.
• Meanwhile, the demand for non OEM EV MRO services has acquired a very promising growth rate in the United Kingdom. As per the market survey, the United Kingdom market is projected to register a higher CAGR of 9.5% through 2033.
• In the Asia Pacific region, China is the major provider of non OEM EV MRO services for electric vehicle users. Over the forecast years, the adoption of non OEM EV MRO services is expected to increase at a rate of 7.5%.
• India, on the other hand, would witness a higher year-on-year growth of non OEM EV MRO market than any other region. Based on a market analysis report by Future, India is expected to register a CAGR of 11.6% during the years 2023 to 2033.
• Japan has also emerged as a significant market for non OEM EV MRO services despite the strong demand for certified services. By the end of the year 2033, the demand for non OEM EV MRO services is projected to reach an overall valuation of US$ 8.7 million.
• Australia is another prominent region showing higher demand for non OEM EV MRO these days. The total valuation of the market in this region is also anticipated to reach a valuation of US$ 5.4 million by 2033.

Competitive Landscape for the Non OEM EV MRO Market

Some of the major players in the global market are Robert Bosch GmbH, LKQ Corporation, The Hybrid Shop, ST Engineering, Performance Consulting Associates, Inc., Micron Technology, Inc, SpareIt, TMD Mobility, Fraunhofer Gesellschaft, and NM and E Co., Ltd. among others

The overall market is dominated by a large number of local and regional companies that receive orders from a wide range of customers. Evolving business practices, security requirements, and technological advancements are the major trends affecting the automotive MRO market. So, the non OEM EV MRO market key players are in a favorable yet precarious situation in terms of gaining or losing market share.

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Key Segments of the Market

By Product Type:

• Battery Electric Vehicle
• Hybrid Electric Vehicle
• Plug-in Hybrid Electric Vehicle
• Fuel Cell Electric Vehicle

By Vehicle Type:

• Two Wheelers
• Passenger Cars
• Commercial Vehicles
• Others

By Service Provider:

• Franchise General Repairs
• Local Service Providers
• Other Service Providers

By Region:

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

Explore Wide-ranging Coverage of FMI’s Automotive Landscape

Electric Two Wheelers MRO Market Share : is predicted to record an impressive CAGR of 4.3% over the next decade. Currently, the electric two wheelers MRO market share is estimated to be around US$ 435.7 million for this continuing year 2023. 

Automotive OEM Market Size : is projected to have an average-paced CAGR of 4.17% during the forecast period. The current valuation of the market is US$ 35.16 Billion in 2023.

Used EV Market Demand : is valued to be around US$ 17,890.5 million this year and is anticipated to register a CAGR of 8.4% over the forecast years.

Electric Passenger Car MRO Market Growth : is anticipated to develop at an impressive growth rate of 21.2% over the forecast period. The overall market share is estimated to reach nearly US$ 28,317.3 million by 2033, expanding from US$ 4,140.2 million in 2023.

Electric Commercial Vehicle MRO Market Outlook : is estimated to reach US$ 638.7 Million in the present fiscal year 2023.

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

Contact Us:

Future Market Insights Inc.

Christiana Corporate, 200 Continental Drive,

Suite 401, Newark, Delaware – 19713, USA

T: +1-845-579-5705

LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com

The global electric garbage van market is worth US$ 741.3 Million as of now and is expected to reach US$ 2.63 Billion by the year 2033 at a robust CAGR of 13.5% between 2023 and 2033.

The present-day scenario is such that the end-consumers are turning out to be extra-conscious regarding environment-friendly measures. As such, the governments are also propagating promotion of the electric vehicles. Emission-free vehicles are being tabled. This factor is expected to keep the cash registers ringing for electric garbage market going forward.

Plus, the fact that global garbage would witness 70% increase in the global garbage by the year 2050 is prompting manufacturers to increase production of electric garbage vans. Also, prices of batteries are decreasing coupled with high-performance electric vans being developed.

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It has been observed that electric garbage tippers are in greater demand as compared to battery operated electric garbage vans. Commercial electric garbage vans are preferred over industrial electric garbage vans, especially in the post-pandemic era.

At the same time, there is a dearth of sufficient infrastructure to charge and maintain electric garbage vehicles. This factor is expected to restrain the electric garbage van market. Besides, electric garbage vehicles’ short range and limited capacity are there to add to the hindrances.

Future Market Insights has walked through these facets with future perspectives in its latest market study entitled ‘Electric Garbage Van market’. It has its team of analysts and consultants to look through an eagle’s eye view in its primary, secondary, and tertiary modes of research.

“With meeting self-determined GHG reduction goals on the anvil, the global electric garbage van market is likely to grow splendidly in the forecast period” – says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)
Key Takeaways from Electric Garbage Van Market

• North America holds the largest market share with the US being subject to strict anti-pollution laws getting enacted. As such, more number of city administrations are focusing on the usage of electric garbage vans in fleets. For instance – Los Angeles sanitation service has shown commitment toward conversion of garbage collection vans to the battery power by the year 2035. On the similar grounds, the New York City Sanitation Department does plan having a fleet of 100% electric garbage vans by the year 2040.
• Europe holds the second-largest market share with the UK and Germany leading from the front. Also, there is a strong production base available for every kind of automotive product. New models are also being floored herein. The government of the UK has actually pledged to turn all vans and cars into zero-emission vehicles by the year 2050.
• The Asia-Pacific is expected to grow at the fastest rate in the electric garbage van market going forward with India and China dominating. Plus, it has been reported that in China there is a well-co-ordinated policy creation as well as execution with regards to material and waste resources. Australia and Japan are expected to pick up pace herein. India is also expected to handsomely contribute to the growth of electric garbage van market with the government passing stern emission rules in this regard.

Competitive Electric Garbage Vans

• The key participants in electric garbage van market include Prestantia, Ceeon India, Jessun Techno Pvt. Ltd., Heil Co., Kirchhoff Group, McNeilus, Bridge Truck Manufacturing, Hauli-All Equipment, Curbtender, and likewise.
• The players mentioned above are engaging into various modes of expansion inclusive of new product launch, mergers, acquisitions, partnerships, joint ventures, and likewise to strengthen their position in the electric garbage van market going forward.
• GreenWaste, in the year 2019, did add first-generation electric garbage van (from BYD) to the fleet. It has been found that usage of this vehicle every year does save 78 metric tons of carbon dioxide close to 6K gallons of fuel.

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Key Segments of the Electric Garbage Van Industry

By Product Type:

• Garbage Tipper
• Garbage Cycle eRickshaw
• Battery Electric Van
• Others

By Loading Capacity:

• Less than 500 Kg
• 500 to 800 Kg
• More than 800 Kg

By End User:

• Commercial Garbage Van
• Industrial Garbage Van
• Others

By Region:

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

Author

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

Explore FMI’s Extensive Ongoing Coverage on Automotive Domain

Electric Cargo Bike Market Share is expected to attain a valuation of US$ 2.1 billion in 2023 and is projected to reach US$ 6.2 billion by 2033.

Electric Utility Vehicles Market Size is expected to reach a valuation of US$ 38,550.2 million by 2033.

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:        

Nandini Singh Sawlani   

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
LinkedIn| Twitter| Blogs | YouTube

The total valuation of the global electric two-wheelers MRO market in 2023 is estimated to be around US$ 435.7 million which is projected to register a CAGR of 4.3% throughout 2033. Research on the global two wheelers MRO market further reveals that the overall valuation would reach US$ 1,414.9 million by 2033.

Given that transit facilities and preferences differ greatly between countries, it is difficult to draw conclusions about the electric two wheelers MRO market trends, although, certain regional advances are startling. China, which represents roughly 30% of the worldwide electric two wheeler market, is poised to dominate the global electric two wheelers MRO market.

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Global agencies are also setting stricter pollution objectives that may increase the sales of electric light vehicles and further supplement the MRO market. Many cities are attempting to decrease the usage of private vehicles and traffic congestion by providing more encouragement for E2Ws and other EVs.

Key Takeaways

• As per the FMI study, currently, Japan holds the maximum share of the revenue generated by electric two wheelers MRO services provided globally. In the previous year, 2022, this amount was figured out to be around US$ 59 million, which turned out to be 15.3% of the overall market.
• The electric two wheelers MRO market size of the United States comes after many Asia Pacific countries. Presently, it contributes to only 4.3% of the market size and is projected to generate US$ 18.7 million in 2023.
• Germany is the leading region for electric two wheelers MRO service providers operating in the European region. Globally, it is behind the United States and is expected to contribute around US$ 11.7 million in the year 2023.
• The United Kingdom has witnessed a significant amount of rise in the demand for electric two wheelers MRO services in the last couple of years. FMI pegs the year-on-year growth rate of the United Kingdom two wheelers MRO market at nearly 7.5% over the forecast years.
• In Asia Pacific, India is the emerging region in the adoption of two wheelers MRO services. As per the records obtained by FMI, this country is about to witness an upsurge in the demand for two wheelers MRO at an annual rate of 13.8% through 2033.
• The overall growth rate of the two wheelers MRO service providers in China is predicted to be slightly lower. However, given the bigger size of China, two wheelers MRO market, with an annual growth rate of 13.1% might retain its dominant position up to 2033.
• Australia is also surfacing as a very lucrative region for both domestic and international market players. By acquiring a market share of about 1.1% it has entered the global two wheelers MRO market competition recently.

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Competitive Landscape

Few of the leading MRO service-providing companies that have turned out to be the key electric two wheelers MRO market players are Bosch Mobility Solutions, Ola Electric, Benling, Hero Electric, TVS, Ather, Garage Works, SpareIt, Vmoto Limited, and Terra Motors Corporation among others.

The adoption rate of electric two wheeler MRO services in Germany, France, and other European Union nations is growing at a promising rate. However, the overall demand for electric bikes and the light vehicle has remained traditionally low in western countries. So most of the global electric two wheelers MRO service providers are finding it favorable to shift to the Asia Pacific region.

Key Segments of Electric Two Wheelers MRO Market

By Vehicle Type:

• Electric Scooter or Moped
• Electric Motorcycle
• Others

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https://www.futuremarketinsights.com/ask-question/rep-gb-16524

By Service Provider:

• Franchise General Repairs
• OEM Authorized Service Centers
• Others

By Region:

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

Author

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

Explore FMI’s Extensive Ongoing Coverage on Automotive Domain

Lightweight Compact Wheel Loader Market Share will expand at a CAGR of 8.4% between 2023 and 2033, totaling around US$ 30.3 billion by 2033.

Compact Wheel Loaders Market Outlook is anticipated to expand at a CAGR of 5.04% between 2023 and 2033.

Crawler Excavator Market Growth is anticipated to reach a high of US$ 65,665.2 million by the year 2033.

Excavators Market Size is likely to hit a valuation of US$ 123.30 billion by 2033.

North America Underground Mining Vehicle Market Demand is projected to reach US$ 8,795.08 million by 2033.

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:        

Nandini Singh Sawlani   

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
LinkedIn| Twitter| Blogs | YouTube

The global diagnostic tools for EVs market is expected to rise at a sturdy growth rate of 12.8% during the forecast years as per a report by FMI. The overall market valuation of total sales of diagnostic tools for EVs in 2022 was US$ 1,437 million which is further projected to reach US$ 5,401.6 million by 2033.

EV sales have seen a significant rise giving impetus to the requirement for other related products and services for its advancement, over the last few years. Furthermore, tremendous progress has been made in the electric vehicle repair and maintenance business creating a huge opportunity for the market.

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Key Takeaways

• As per the market estimate figures, the United States is the leading region in providing diagnostic tools for EVs. In the year 2022, the total revenue generated by the companies of diagnostic tools for EVs operating in the country was nearly US$ 184 million.
• In Europe, Germany has remained the leading market for electric vehicles and tools and other products and services associated with EVs. Currently, the net worth of the total sales of diagnostic tools for EVs achieved by Germany is estimated to be around 8.9% of the global market.
• Interestingly, the United Kingdom has witnessed higher demand for diagnostic tools for EVs than any other country in the European Union in recent years. As per the market statistics, this country is anticipated to witness an overall annual growth rate of 12.4% during the time period between 2023 and 2033.
• China is projected to lead the manufacturing and sales of diagnostic tools for EVs in the Asia Pacific region. By the virtue of having a high manufacturing base, it is projected to develop its diagnostic tools for the EVs market at a rate of 10.1% over the next ten years.
• Japan is also a key market for the production and export of diagnostic tools for EVs, its annual growth rate in this sector would remain lower than that of China. In the previous year, the total valuation of this market in Japan was US$ 22.5 million which is further projected to reach US$ 76 million by 2033.
• Australia is emerging as a key region with demand for diagnostic tools for EVs gaining traction over the recent years. For the present year 2023, the net worth of the total diagnostic tools for EVs sales in the country is estimated to be around US$ 13 million and it would reach up to US$ 43.5 million by 2033.
• Contrastingly, India is observed to be having a year-on-year growth rate for sales of diagnostic tools for EVs higher than any other country. In comparison to the CAGR of other countries, the demand for diagnostic tools for EVs in India is poised to register a CAGR of 14.2% through the forecast years.
• In terms of value, the hardware segment of the market generates higher revenue in comparison to software and services. As per the diagnostic tools for EVs market report, this segment contributed 68.3% of the total revenue generated by the market in 2022.

Competitive Landscape for the Diagnostic Tools for EVs Market

Actia Group SA, Autel Intelligent Technology Corp., Ltd., AVL List GmbH, BMW AG, Bosch Automotive Service Solutions Inc., Continental AG, Daimler AG, Delphi Automotive Plc, Denso Corporation, Fluke Corporation are prominent players in the global diagnostic tools for EVs market.

The global diagnostic tool for electric vehicles market looks to be fragmented and competitive, with both regional and global participants advancing at a constant rate.

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Key Segments of Diagnostic Tools for EVs Market

By Offering:

• Diagnostic Hardware
  • Scanner
  • Code Reader
  • Tester
  • Analyzer
  • Others
• Diagnostic Software
  • ECU Diagnosis Software
  • Vehicle Tracking Software
  • Vehicle System Testing Software
  • Others
• Diagnostic Services
  • Vehicle Maintenance and Repair Services
  • Custom, Training, Support, and Integration Services
• Others

By Tool Type:

• Professional Diagnostic
• DIY Diagnostic
• OEMs Diagnostic
• Others

By Application:

• Automatic Crash Notification
• Vehicle Tracking
• Vehicle Health Alert & Roadside Assistance
• Repair & Maintenance
• Others

By Vehicle Type:

• Passenger Vehicle
• Commercial Vehicle
• Others

By Region:

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

Explore Wide-ranging Coverage of FMI’s Automotive Landscape

Autonomous Vehicles Market:

https://www.futuremarketinsights.com/reports/autonomous-vehicles-market

EV Charging Cables Market:

https://www.futuremarketinsights.com/reports/ev-charging-cables-market

Automotive DC-DC Converter Market:

https://www.futuremarketinsights.com/reports/automotive-dc-dc-converter-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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Nandini Singh Sawlani   

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
LinkedIn| Twitter| Blogs | YouTube

 

The Europe photovoltaic mounting system market has exhibited robust year-on-year growth, recording an impressive 9% surge in 2022, propelling the market value to a noteworthy US$ 35.7 billion by the end of the same year. Future Market Insights (FMI), an ESCOMAR certified market research and consulting firm, unveils a promising trajectory for this industry, forecasting a substantial leap from US$ 40.6 billion in 2023 to an estimated US$ 178.7 billion by 2033. This surge is poised to be driven by a notable Compound Annual Growth Rate (CAGR) of 16% during the forecast period spanning from 2023 to 2033.

Key Trends Paving the Path for Market Progress:

Rapid Adoption of Renewable Energy: The escalating global shift towards renewable energy sources, particularly solar energy, is poised to fuel the rapid expansion of the Europe photovoltaic mounting system market. This burgeoning demand is driven by the increasing adoption of photovoltaic systems across various European nations.

Cost Efficiency: The decreasing costs associated with photovoltaic installation and energy storage systems is creating a fertile ground for photovoltaic mounting system manufacturers across Europe. This cost-effectiveness is contributing to a surge in market demand.

Environmental Awareness: The growing concern over energy prices and the depletion of fossil fuels has led to an environment conducive to the growth of the photovoltaic mounting system market in Europe. Favorable government initiatives and schemes further contribute to this burgeoning demand.

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Drivers Fueling Photovoltaic Mounting System Demand in Europe:

Supportive Regulatory Environment: Europe’s pro-renewable energy policies, including feed-in tariffs, net metering, and renewable energy targets, have incentivized the adoption of photovoltaic systems. This regulatory framework is fostering a favorable market environment, driving demand for photovoltaic mounting systems.

Renewable Energy Targets: European countries have set ambitious renewable energy targets as part of their climate commitments. The European Union’s Renewable Energy Directive, with a binding target of 32% renewable energy by 2030, has spurred investments in solar energy projects, thus boosting demand for photovoltaic mounting systems.

Distinguishing Characteristics of the Adjacent Photovoltaic Mounting System Market:

The Europe photovoltaic mounting system market, while connected to the solar inverter market, exhibits distinct features:

Solar inverters are essential for converting solar panel electricity, while photovoltaic mounting systems focus on securely installing panels.

The growth of the European solar inverter market is driven by rising solar PV adoption and supportive policies.

Although related, the photovoltaic mounting system market’s focus on physical structures may result in a smaller market size compared to solar inverters.

Germany Leading the Renewable Energy Transition:

Germany, with its strong inclination towards renewable energy resources and substantial government support, is anticipated to remain a pivotal market for photovoltaic mounting systems in Europe. FMI predicts a staggering 17.8% CAGR for Germany’s photovoltaic mounting system market during the assessment period. By 2033, the country’s market valuation is projected to reach an impressive US$ 42.2 billion.

Competitive Landscape:

The Europe photovoltaic mounting system industry boasts a blend of established and emerging players. Leading manufacturers, including-

• Schletter GmbH,
• Renusol GmbH,
• Schletter Group,

are in a competitive race to offer innovative, reliable, and cost-effective mounting solutions.

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Europe Photovoltaic Mounting System Market Segmentation

By Product Type:

• Rooftop
• Ground Mounted
• Carport Mounting Structure

By Sales Channel:

• Business to business (B2B)
• Business to Customer (B2C)

By Material Type:

• Aluminum
• Steel
• Others

By Technology:

• Fixed
• Tracking

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Future Market Insights Inc.
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200 Continental Drive,
Suite 401, Newark,
Delaware – 19713, USA
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The speed gate Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the speed gate market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for speed gate. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2033. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.

The global speed gate market is on an impressive trajectory, projected to achieve remarkable revenues of US$ 1,620 million in 2023, and set to soar at a compelling Compound Annual Growth Rate (CAGR) of 8%. By 2033, this dynamic industry is anticipated to reach a staggering US$ 3,497.46 million, driven by a confluence of compelling factors.

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Driving Factors Igniting the Global Speed Gate Market:

Technological Advancements: The relentless pursuit of technological innovation within the speed gate industry is reshaping its landscape. Cutting-edge advancements, including biometric authentication, facial recognition, and contactless entry, are enhancing security and user experience, thereby amplifying market demand.

Heightened Security Concerns: In today’s rapidly evolving security landscape, the need for robust access control solutions has never been more critical. Speed gates, with their ability to swiftly and effectively restrict unauthorized access, are witnessing heightened adoption across various sectors, including commercial, residential, and public infrastructure.

Enhanced Operational Efficiency: Businesses are increasingly recognizing the efficiency gains achieved through the deployment of speed gates. These streamlined entry solutions optimize crowd management, reduce staffing costs, and ensure seamless, hassle-free access for users.

Sustainability Focus: The global shift towards sustainability and environmental responsibility is driving the integration of eco-friendly materials and energy-efficient technologies within speed gate systems. This eco-conscious approach is resonating with environmentally aware consumers and businesses alike.

Urbanization and Infrastructure Development: The ongoing wave of urbanization, coupled with substantial investments in infrastructure development projects worldwide, is fuelling the demand for reliable and efficient access control solutions. Speed gates are emerging as a vital component in these large-scale ventures.

Challenges Hindering Market Growth:

High Initial Investment: The adoption of advanced speed gate systems often requires a significant upfront investment, which can deter some budget-conscious buyers and smaller businesses.

Regulatory Compliance: Evolving regulatory landscapes and data protection requirements can pose compliance challenges for speed gate manufacturers and users. Navigating these complex legal frameworks demands meticulous attention.

Maintenance Costs: The maintenance and upkeep of sophisticated speed gate systems can sometimes incur substantial costs, which need to be factored into long-term budget considerations.

Regional Analysis: North America Demonstrates Lucrative Trends in the Speed Gate Sector

A prevailing trend in the North American market is the widespread adoption of facial recognition technology in conjunction with speed gates. This cutting-edge technology serves as the primary determinant for permitting or denying entry to travelers. Notably, it is projected to be utilized for data collection purposes concerning over 100 million individuals departing from the United States on a weekly basis.

Remarkably, in 2021, the top 20 airports within the United States had already implemented facial recognition technology, thereby necessitating the installation of a substantial number of speed gates to accommodate this innovation seamlessly.

In the North American context, retractable speed gates constitute a significant portion, claiming 38% of the market share in the speed gate sector. Concurrently, swing gates, constituting 50% of the market, emerge as the other prevalent variety extensively embraced within the region.

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Competitive Analysis: Leveraging Additional Services Enhances Profitability in the Speed Gate Market

Prominent players in the speed gate industry are strategically positioning themselves to capitalize on the vast growth potential and a discerning clientele. The integration of supplementary services by speed gate manufacturers has emerged as a pivotal driver of revenue generation.

Speed gate manufacturers have diversified their offerings to include streamlined installation services for their clientele. This strategic maneuver is expected to become a notable source of revenue within the global market.

For instance, Access Security Corporation, a distinguished player in the security solution installation and consulting sector, has a robust presence in key regions, including Delaware, New Jersey, and Philadelphia. The company excels in providing efficient and uncomplicated automated machine setups. Moreover, Access Security Corporation boasts a team of highly qualified and experienced technicians who not only enhance operational efficiency but also prolong the maintenance life of automated machinery.

Importantly, this commitment to service excellence has resulted in a flurry of positive user feedback, effectively serving as a potent marketing tool that stimulates sales within the market.

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Key Players Working in the of Speed Gate Market

• Boon Edam
• ZKTEco
• FAAC Group
• Kaba Group
• CAME S.p.A

Key Segments

By Product Type:

• Full-height Turnstiles
• Tripod turnstiles
• Flap Barriers

By Component:

• Hardware
• Software
• Services

By End Use:

• Transportation
• Residential
• Commercial
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• The Middle East & Africa (MEA)

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com

The Insulated Wires and Cables Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the Insulated Wires and Cables market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for Insulated Wires and Cables. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2033. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.

The global Insulated Wires and Cables Market is projected to reach a substantial valuation of approximately US$ 181.6 billion by the year 2023, with further growth anticipated. This expansion is primarily attributed to the escalating demand for insulated wires and cables within the construction industry, a trend that is driving market progression. It is forecasted that by 2033, the market will attain an estimated worth of US$ 334.7 billion, reflecting a noteworthy Compound Annual Growth Rate (CAGR) of 6.3% during the period spanning from 2023 to 2033.

One of the key factors fueling this growth is the rapid development observed in various end-use application sectors, including industrial, telecommunication, power, electronics, and construction. These industries are experiencing significant advancements, thus amplifying the demand for insulated wires and cables throughout the forecasted period.

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Furthermore, the automotive sector is undergoing notable technological advancements, particularly in the context of hybrid and electric vehicles. This has led to an increased requirement for high-performance cables that can effectively and reliably transmit power. As a result, the demand for insulated wires and cables in this sector is witnessing a substantial upsurge.

In summary, the global insulated wires and cables market is poised for significant expansion due to burgeoning demand in various sectors, driven by technological progress and the increasing prevalence of applications in emerging industries like automotive. This industry is expected to continue its growth trajectory, offering substantial opportunities for stakeholders and participants.

The escalating need for the transmission of data between cellular infrastructure and other vital communication equipment has precipitated a surge in demand for insulated wires and cables within the telecommunications industry. In light of the surging demand for high-speed internet connectivity and the continuous technological advancements taking place in the telecommunications sector, the global market for insulated wires and cables is poised for substantial growth during the projected period.

The expansion of the insulated wires and cables market can be ascribed to several key factors. Firstly, there is a growing appetite for these products within the construction sector, which serves as a primary driver for market expansion. Additionally, heightened levels of research and development activities and continuous technological enhancements in manufacturing processes contribute significantly to the industry’s growth trajectory.

North America has firmly established itself as a prominent consumer of insulated wires and cables, primarily due to their burgeoning utilization within the industrial sector. In parallel, the European market is anticipated to witness robust growth, attributable to the region’s escalating levels of industrialization and urbanization. These factors collectively underscore the promising prospects and positive outlook for the insulated wires and cables industry on a global scale.

Key Takeaways:

• From 2018 to 2022, the market demand expanded at a CAGR of 7.2%
• Based on material, the metal segment accounts for a CAGR of 6.1%
• By end-use, the telecommunication segment is expected to expand at a CAGR of 5.8% during the forecast period
• North America to emerge as a promising market, capturing a CAGR of 6.2%
• United Kingdom to be an opportunistic market, expected to capture a CAGR of 6.1% during the forecast period.

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Competitive landscape:

Prominent players in the insulated wires and cables market are Amphenol Corporation; Belden, Inc.; Amhereo Technology Pty Ltd.; Akcine bendrove Lietuvos pastas; Artesyn Embedded Power among others

• In July 2022 – Amphol Industrial operation enhanced its Amphe-Lite connector series to meet the increasing demand for fiber optic interconnection applications in medical, security, oil & gas, and grid industries. Amphe-Lite fiber optic termini transmit and optical laser with high speed, high reliability, EMI/RFI immune and digital transmission in harsh environments
• In June 2020- Belden Inc. a leading global supplier of speciality networking solutions, announced its premier redistribution partner OmniCable and WireXpress in United States
• In April 2020 – Balden Inc. developed a new fiber solution that allows data centers to create reliable, robust, and high-performance infrastructure. These solutions include DCX optical distribution frame, Fibre Express Flexible Ribbon Cable, 1.6 mm multi-fiber trunks, and fiber MPO Trunks.

Know More about What the Insulated Wires and Cables Market Report Covers

Future Market Insights offers an unbiased analysis of the global insulated wires and cables market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the insulated wires and cables market, the market is segmented based on material and end-use across five major regions.

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Key Segments Profiled:

By Type:

• Metal
• Plastics
• Optical Fibre

By End-Use:

• Telecommunication,
• Power
• Electronics
• Construction
• Others

By Region:

• North American
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa

About Future Market Insights, Inc.

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.

Contact Us:

Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
LinkedIn | Twitter | Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com