Market Research Blog – Page 3245 – New Product Development

Composite Resin Market Expected to Reach US$ 48 Billion by 2034 with a 6.7% CAGR

The composite resin industry is expected to reach a valuation of US$ 25.1 billion in 2024. The market is projected to be worth US$ 48 billion by 2034, expanding at a CAGR of 6.7% between 2024 and 2034. The market is expanding significantly, propelled by its extensive application in key dental, automotive, and construction sectors. These composite materials, crafted from polymers and filler particles, exhibit a remarkable blend of attributes, including durability, aesthetic appeal, and resistance to diverse environmental factors.

In dentistry, composite resins have emerged as the preferred choice for tooth-colored fillings owing to their natural appearance and strong adhesive properties. The automotive industry leverages these materials to enhance lightweighting and fuel efficiency, emphasizing their role in advancing sustainability initiatives. Additionally, composite resins are crucial in the construction sector, contributing to structural integrity and offering design flexibility.

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The market expansion is further fueled by ongoing research and development endeavors to refine material properties and uncover novel applications. This commitment to innovation underscores composite resin technologies adaptability and continuous evolution to meet the ever-changing demands of diverse industries. As industries increasingly prioritize sustainability, the adoption of composite resins gains momentum due to their eco-friendly characteristics. This shift towards sustainable practices aligns with global initiatives, contributing to the ongoing growth trajectory of the market.

Key Takeaways from the Market Study

Based on the manufacturing process, the layup type is projected to expand at 6.3% CAGR by 2034.
The United States is estimated to register at a CAGR of 7% by 2034.
The United Kingdom experiences significant growth, projected at a CAGR of 8% by 2034.
Based on resin type, thermoset resin is anticipated to expand at a CAGR of 6.5% by 2034.

“The composite resin market experiences a surge as these industries prioritize composite resins for their adaptability and performance, fueling sustained growth in the market,” comments a Future Market Insights analyst.

Competitive Landscape

The competitive landscape of the composite resin market is characterized by intense rivalry among key players striving for market dominance. Major companies employ strategic initiatives such as mergers, acquisitions, and partnerships to solidify their market positions.

Continuous innovation in product development and a focus on sustainability drive competition, fostering a dynamic environment. The market is marked by a mix of established industry leaders and emerging players, contributing to ongoing advancements and growth in the composite resin sector.

Some key market developments are as follows:

In March 2020, Ube Industries Ltd. revealed its acquisition of Premium Composite Technology North America Inc. (PCTNA). This acquisition underscores UBE’s commitment to global growth and diversification, reinforcing its presence in key regions and enhancing its offerings to the automotive industry.
In May 2020, Huntsman International LLC completed the acquisition of CVC Thermoset Specialties (CTS), a company specializing in industrial composites, adhesives, and coatings markets. This strategic acquisition enhances Huntsman’s position in these key sectors, broadening its portfolio and strengthening its capabilities in serving the evolving needs of the industrial market.

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Top Key Players in the Composite Resin Market

Sumitomo Bakelite Co Ltd
Dow
DSM
Hexion Inc
Scott Bader Company Ltd
Huntsman International LLC
Celanese Corporation
Evonik Industries AG
Allnex GmbH
SABIC

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 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
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Electric Golf Car Market Size Set to Reach US$ 1.92 Billion by 2033

The global Electric Golf Cart market is estimated to reach US$ 1.3 billion in 2023 and US$ 1.92 billion by 2033, growing at a CAGR of 4.0%.

In an upcoming market research study, Future Market Insights (FMI) lays bare undercurrents and opportunities prevailing in the global Electric Golf Cart market. The report provides in-depth insights on the Electric Golf Cart market through a detailed analysis of key growth drivers, restraints, trends, challenges, and revenue growth based on historical data. Valuable information and forecast statistics covered in the Electric Golf Cart market report will help existing and potential new market players to craft long-term strategies as well as maintain business continuity during a crisis.

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Serving domestic and international clients 24/7
Prompt and efficient customer service
Data collected from reliable primary and secondary sources
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Electric Golf Cart Market: Segmentation

To analyze the Electric Golf Cart market effectively and efficiently, the information has been segregated into key segments and sub-segments.

On the basis of application, the global Electric Golf Cart market is segmented as:

Golf Course
Personal Use
Industry Use
Rental Services
Others

On the basis of ownership, the global Electric Golf Cart market is segmented as:

Rented
Fully Owned

On the basis of Type, the global Electric Golf Cart market is segmented as::

4 Seater
6 Seater
8 Seater
Above 8 Seater

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Electric Golf Cart Market: Competition Analysis

The FMI’s study presents an extensive analysis of global, regional, and country-level players operating in the Electric Golf Cart market based on their innovative launches, distribution channels, local networks, industrial penetration, production methods, and revenue generation. Furthermore, growth strategies and mergers & acquisitions (M&A) activities associated with the players are enclosed in the Electric Golf Cart market report.

Some of the key players in the global Electric Golf Cart market are:

Textron Specialized Vehicles Inc.
Xiamen Dalle Electric Car Co., Ltd.
Speedways Electric
Cruise Car, Inc.
Autopower
Golf Cart India
National Golf Foundation
Suzhou Eagle Electric Vehicle Manufacturing Co., Ltd
Electric Vehicles (Thailand) Co.Ltd.
Guangdong Lvtong New Energy Electric Vehicle Technology Co., LTD.

Crucial Questions Answered in the Report

Which end-use industry remains the top consumer of Electric Golf Cart in different regional markets?
At what rate has the global Electric Golf Cart market been expanding during the forecast period?
How will the global Electric Golf Cart market look like by the end of the forecast period?
What innovative technologies are the Electric Golf Cart market players adopting to stay ahead of the pack?
What are the restraints affecting the growth of the global Electric Golf Cart market?

Key Offerings of the Report

Growth Drivers and Opportunities: Comprehensive analysis on growth-driving factors and opportunities for market players in different regional markets
Recent Trends and Forecasts: Detailed assessment on the latest trends, technological developments, and forecasts for a 5-year or 10-year period.
Segmental Analysis: Extensive analysis on each segment and factors differentiating the role of these segments in market revenue forecasts and growth rate analysis
Regional Market Forecast: Thorough analysis of each regional market to arm stakeholders with necessary information to take critical decisions
Competitive Landscape: All-inclusive insights on both leading and emerging players vying for a slice of the Electric Golf Cart market

About Future Market Insights (FMI)

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

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

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Air Mattress Market: Projected Growth to US$ 330 Million by the End of 2029

The global air mattress market is forecasted to achieve a valuation of approximately US$ 330 million by the end of 2029, marking significant growth from its value of around US$ 138 million in 2019. With this projection, the market is set to demonstrate a notable compound annual growth rate (CAGR) of approximately 9.0% between 2019 and 2029. Regionally, North America is anticipated to lead the market.

The North American air mattress market holds significant dominance, driven by extensive utilization across commercial sectors like hotels and hospitals. The adoption of medicated air mattresses, aiding in blood circulation and pressure relief during sleep, further amplifies market growth. With rising awareness and expanded commercial usage, the air mattress market in North America is poised for accelerated expansion.

The report listed a reduction in indoor space as one of the factors helping to make Inflatable bed and beds an important product for urban residents. High durability, no odor and their ability to expand fully in a few minutes should increase sales worldwide.

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Key Factors Fueling the Air Mattress Market Boom:

Growing demand for outdoor activities: Camping, hiking, and other outdoor adventures are gaining popularity, driving the need for portable and comfortable sleeping solutions. Air mattresses offer a perfect blend of both.
Increasing urbanization and smaller living spaces: As cities become more crowded, living spaces tend to shrink. Air mattresses provide a convenient and space-saving option for guest accommodation or occasional use.
Technological advancements: Innovations like built-in pumps, self-inflating designs, and improved comfort features are making air mattresses more user-friendly and appealing to a wider audience.
Rising disposable incomes and changing consumer preferences: Consumers are increasingly prioritizing experiences and leisure activities, leading to a higher disposable income and a willingness to invest in comfortable and convenient products like air mattresses.
E-commerce boom: The convenience and wide selection offered by online platforms are driving sales and making air mattresses more accessible to a global audience.

Opportunities for Market Players:

Focus on innovation: Develop new features and technologies that enhance comfort, convenience, and durability.
Cater to diverse needs: Offer a variety of sizes, designs, and functionalities to cater to different user segments (camping, home use, guests, etc.).
Embrace sustainability: Use eco-friendly materials and manufacturing processes to appeal to environmentally conscious consumers.
Leverage online platforms: Partner with e-commerce giants and utilize digital marketing strategies to reach a wider audience.

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Who is Winning?

Some of the leading players operating in the Air Mattress market are DeVilbiss Sidhil Ltd.; ALPS Mountaineering; SizeWise; LazerLazery; Sleepy Sleep; Restoration Goods; Bestway; Somnio LLC; American National Manufacturing, Inc.; Intex Development Co. Ltd.; and WENZEL Group, Coleman Company, Inc., Sound Asleep Products, Fox Air Beds, King Koil etc. As a result of increasing competition, companies are focusing on expanding their product portfolio with innovative offerings. In addition to this, mergers and acquisition remains a popular strategy among market players. Companies intend to expand their regional footprint through strategic collaborations.

Growing health concern related to the toxic elements used in air matters, have pushed the consumers towards nontoxic beds which in result also pushed the manufacturers to come up with new innovative nontoxic air mattress options such as lightweight PVC free air bed. Alps Mountaineering has introduced its velocity bed made of nontoxic elements.
In 2019, Coleman Queen had launched queen-size air mattress which provide built-in electric pump along with the air mattress.

Get Valuable Insights into Air Mattress Market

Future Market Insights, in its new report, presents an unbiased analysis of the global air mattress market, covering historical demand data and forecast figures for the period between 2019 and 2029. The study divulges compelling insights on the air mattress market based on product type (medicated, non-medicated), size ( full, twin, king, queen, other), application (residential, commercial), price range (high/premium, mid-range/economy), pump type ( electric, battery-operated, other), region (North America, Latin America, Europe, East Asia, South Asia, Oceania, Middle East & Africa).

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Market Segmentation

The global air mattress market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.

By Product Type

Medicated
Non-medicated

By Size

Full
Twin
King
Queen
Other

By Pump Type

Electric
Battery Operated
Other

By Application

Residential
Commercial
- Hotels
- Hospitals
- Others

By Price Range

High/premium
Mid-range/economy

Author

Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.

Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.

About Future Market Insights (FMI)

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

Contact Us:

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
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Ceramic Textile Market Projected to Reach US$ 477 Million Valuation by 2034 with a CAGR of 10.3%

The ceramic textile market is expected to be valued at US$ 179.1 million in 2024. The market is expected to rise at a CAGR of 10.3% from 2024 to 2034. The market is projected to reach a value of US$ 477 million by 2034.

The ceramic textile market is experiencing a significant increase in demand due to several factors. The excellent thermal insulation properties of ceramic textiles can withstand extremely high temperatures, making them ideal for use in industries such as aerospace, automotive, and energy. They are used as insulation materials in engines, turbines, exhaust systems, and other high-temperature applications.

The lightweight and flexible nature of the ceramic textiles can be easily molded to fit a variety of shapes and sizes. Additionally, they are highly durable and resistant to wear and tear, making them ideal for use in harsh environments.

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The increasing demand for energy-efficient solutions. As more industries look for ways to reduce their energy consumption and greenhouse gas emissions, they are adopting materials like ceramic textiles to help them achieve their goals. These materials offer excellent thermal insulation properties, which can help reduce energy consumption by minimizing the amount of heat lost through walls, pipes, and other surfaces.

Advancements in manufacturing technology also contribute to the growth of the ceramic textile market. Manufacturers are now able to produce ceramic textiles in larger quantities and at lower costs than ever before, making them more accessible to a wider range of industries and applications.

“The demand for high temperature-resistant materials in various industries is increasing, which is expected to fuel the growth of the ceramic textile market over the coming years. With the ability to serve a wide range of industries and applications, ceramic textile manufacturers can tap into vast market opportunities,” says an Analyst at Future Market Insights (FMI).

Key Takeaways from the Ceramic Textile Market

The ceramic textile market is estimated to register a CAGR of 10.3% and reach a valuation of US$ 477 million by 2034.
The vitreous alumina-silica is anticipated to dominate the global market by registering a 10.2% CAGR from 2024 to 2034.
The cloth segment is expected to rise at a 10.1% CAGR from 2024 to 2034.

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Competitive Landscape

There are various companies operating in the ceramic textile market, providing a wide range of products for different purposes like insulation, filtration, and fire protection. Each player in this market has its own strengths and weaknesses and employs unique strategies to remain competitive. To stay ahead of the competition, companies must continuously innovate and improve their products.

Ceramic Textile Market Top Players

Ibiden
Kyocera Corporation
Isolite Insulating Products Co., Ltd.
Morgan Advanced Materials Corporation
Unifrax
Zircar Zirconia, Inc.
Luyang Energy-Saving Materials Co., Ltd.
Rath Group
Rauschert GmbH
3M
Mineral Seal Corporation
RAK Ceramics

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Aqueous-based Metal Cleaner Market Set to Surge, Predicted to Hit US$ 22.50 Billion by 2034

The aqueous-based metal cleaner market size is estimated to be around US$ 12.70 billion in 2024. It is projected to exhibit a CAGR of 5.90% and reach a market size of US$ 22.50 billion by 2034.

In the last few years, aqueous-based metal cleaners have gained popularity in various industries due to their lower environmental impacts compared to traditional solvent-based cleaners. The cost-efficiency of these aqueous-based metal cleaners, coupled with their competitive performance, is also driving their adoption in various industries. They are also experiencing increasing demand from the electronics manufacturing sector, as these cleaners provide effective cleaning without compromising the integrity of sensitive electronic components.

Besides this, ongoing research and development initiatives by leading companies in the market are leading to innovations in aqueous-based formulations that enhance their effectiveness in metal cleaning applications. This trend is expected to continue as the demand for eco-friendly products and sustainable cleaning solutions increases.

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The expanding metal fabrication industry due to infrastructure development and manufacturing needs in developing and underdeveloped countries is also driving the demand for aqueous-based metal cleaners. Supportive government initiatives promoting the use of environmentally friendly and sustainable cleaning solutions are further fueling the adoption of aqueous-based metal cleaners in various industries.

“Companies in the aqueous-based metal cleaner market must concentrate on the development and promotion of environmentally sustainable cleaning solutions. They must also curate products with biodegradable ingredients to reduce waste and adhere to eco-friendly practices to meet the growing demand for green technologies,” says an FMI analyst.

Key Takeaways from the Market Study

The manufacturing segment dominates the global aqueous-based metal cleaner market, growing at a CAGR of 5.70% through 2034.
On the basis of the technology type, the ultrasonic segment is expected to grow at a CAGR of 5.50% until 2034.
The aqueous-based metal cleaner market in the United States is anticipated to grow at a remarkable CAGR of 6.10% through 2034.
The aqueous-based metal cleaner market in the United Kingdom is estimated to rise at a 7.00% CAGR through 2034.
The aqueous-based metal cleaner market in China has the potential to rise at a 6.50% CAGR through 2034.
The Japanese aqueous-based metal cleaner market is predicted to rise at a 7.40% CAGR through 2034.
The aqueous-based metal cleaner market in South Korea is very likely to grow at a CAGR of 8.00% through 2034.

Competitive Landscape

The market for aqueous-based metal cleaners has a significant number of companies catering to both regional and international consumers. Prominent companies like BASF SE, The Dow Chemical Company, Henkel AG & Co., KGaA, 3M Company, PG Industries, Inc., Quaker Houghton, etc., prioritize developing and promoting eco-friendly cleaning solutions. These companies are expanding their customer base by strategically marketing their products in underdeveloped and developing countries. The market for aqueous-based metal cleaners is highly fragmented, with numerous players vying for customers’ attention.

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Key Segmentation of the Aqueous-based Metal Cleaner Market

By End-Use Industry:

Manufacturing
Automotive and Aerospace
Healthcare

By Technology Type:

Ultrasonic
Rinse
Dip
Spray

By Region:

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

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Global Brake System Market Set to Reach US$ 42.3 billion by 2034

According to Future Market Insights (FMI), the global brake system market is expected to reach US$ 24.9 billion in 2024 and US$ 42.3 billion by 2034. The market is projected to rise at a CAGR of 5.4% by 2034.

The expansion of the market is attributed to the rising popularity of commercial vehicles such as electric buses and passenger cars worldwide. Increasing car sales online and the introduction of new services in the market by manufacturers are expected to propel the market expansion.

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Rising fatalities and worries about traffic accidents have led governments to implement strong safety measures. The market for brake systems is expected to expand because of the strict safety regulations governments and regulatory bodies put in place.

The growing popularity of electric vehicles and increased attention paid to autonomous vehicles are anticipated to surge manufacturing businesses’ prospects for commercial growth. The market for brake systems is anticipated to move toward an increasing demand for installing passive and active safety features in automobiles.

Key Takeaways from the Brake System Market Report:

The brake system market is expected to reach a valuation of US$ 42.3 billion by 2034.
The market is projected to surge at a CAGR of 5.4% by 2034.
China’s brake system market is expected to rise at a CAGR of 5.9% by 2034.
The United States is projected to reach a valuation of US$ 7.6 billion in 2034.
Based on end-use, the automotive segment is expected to surge at a CAGR of 5.0% through 2034.

“Commercial vehicles such as trucks, buses, and vans are in high demand worldwide. This growth is attributed to the expansion of e-commerce, rising demand for logistics & transportation, and expansion of mining & construction industries. The need for dependable and effective braking systems increases along with the fleet growth of commercial vehicles.” – Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)

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Competitive Landscape

Leading companies in the market include AISIN SEIKI Co. Ltd, KNORR-BREMSE AG, Nissin Kogyo Co., Ltd, CONTINENTAL AG, and BREMBO SPA. Leading players are employing several growth strategies, such as new product launches and joint ventures, to increase their production capacity.

For instance,

In 2023, Bosch invested US$ 283.2 million to expand its facility in Aguascalientes, Central Mexico. The investment is projected to allow the factory to produce electronic parking brakes (EPB) for top automakers, including Tesla, BMW, and Nissan.
In 2022, Continental announced that producing five million electronic brake systems (EBS) at its Gurgaon factory marked a significant milestone.

Brake System Market Segmentation by Category

By Product Type:

Disc Brakes
Drum Brakes
Hydrostatic Brakes
Hydraulic Wet Brakes
Regenerative and Dynamic Braking

By End-use:

Automotive
Construction Equipment
Agricultural Equipment
Industrial Trucks
Mining Equipment

By Distribution Channel:

Original Equipment Manufacturers (OEMs)
Aftermarket

By Region:

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

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.

About Future Market Insights (FMI)

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

Contact Us:

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
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Charting the Course: Predicted CAGR of 9.5% Signals Robust Expansion for Electric Light Commercial Vehicle Market

The electric light commercial vehicle market was valued at around US$ 173 billion in 2019. In the following five years, sales of electric light commercial vehicles surged at a 12% CAGR and reached US$ 271.9 billion by 2023.

The demand for electric light commercial vehicles is expected to be valued at 303.2 billion in 2024. The market is forecasted to rise at a CAGR of 9.5% from 2024 to 2034. The electric light commercial vehicle industry is expected to reach US$ 750 billion by 2034 end.

Key Takeaways from the Electric Light Commercial Vehicle Market Study Report

The United States market is expected to increase at a rate of 9.8% through 2034 and reach a total valuation of US$ 135.1 billion by 2034.
The demand for electric light commercial vehicles in the United Kingdom is projected to grow at a promising rate of 10.7% from 2024 to 2034.
China is the leading manufacturer of EVs in Asia, including electric light commercial vehicles, and is expected to advance at a CAGR of 9.9% through 2034.
Japan and South Korea are two other remarkably growing markets in Asia.

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The adoption of electric cars in urban and metropolitan cities is increasing rapidly with rising concerns about pollution and outdoor air quality. EV manufacturers have increased the production of electric light commercial vehicles and are promoting them as ways to create cleaner, healthier communities.

Lower running costs and lower carbon footprint have made electric commercial vehicles suitable for logistics services and door-to-door delivery businesses. Growing awareness among city dwellers about the environment and climate change has also increased the popularity of eLCVs as shuttle vans or urban transport vehicles.

“International organizations as well as national governments are putting strict emission laws to solve environmental issues. Electric light commercial vans are finding wider acceptance in the market due to their ability to satisfy and even surpass the laws for zero exhaust emissions,” – Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)

Competitive Landscape

Chevrolet, Ford Motors, and Fuso are some of the leading manufacturers of commercial vehicles that also hold a substantial market share for electric LCVs. The growing awareness and investments for accelerating the integration of green delivery vans are anticipated to encourage the emergence of new market players in the coming days. Key players are focusing on novel technologies to enhance their profit and presence in the market.

Key Players Profiled in the Electric Light Commercial Vehicle Market Report

Bollinger
Chevrolet
Ford Motor Company
Fuso
General Motors Inc.

Electric Light Commercial Vehicle Market Report Scope

Attribute	Details
Estimated Market Size (2024)	US$ 303.2 billion
Projected Market Size (2034)	US$ 750 billion
Anticipated CAGR (2024 to 2034)	9.5%
Forecast Period	2024 to 2034
Historical Data Available for	2019 to 2023
Market Analysis	US$ million or billion for Value and Units for Volume
Key Regions Covered	North America, Latin America, Europe, Middle East & Africa (MEA), East Asia, South Asia and Oceania
Key Countries Covered	United States, Canada, Brazil, Mexico, Germany, Spain, Italy, France, United Kingdom, Russia, China, India, Australia & New Zealand, GCC Countries, and South Africa
Key Segments Covered	By Vehicle Type, By Application, By Propulsion Type, By Gross Vehicle Weight (GVW), and By Region
Key Companies Profiled	Bollinger Chevrolet Ford Motor Company Fuso
Report Coverage	Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

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Key Market Segmentation

By Vehicle Type:

Light-duty Trucks
Vans
Pickup Trucks
Other Vehicle Types

By Propulsion Type:

Battery Electric Vehicle (BEV)
Fuel Cell Electric Vehicle (FCEV)
Hybrid Electric Vehicle (HEV)
Plug-in Hybrid Electric Vehicle (PHEV)

By Gross Vehicle Weight (GVW):

Below 6,000 lbs
6,000 lbs to 10,000 lbs
10,000 lbs to 14,000 lbs

By Application:

Commercial
Industrial

By Region:

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

Author

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 400 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
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Bioplastic and Biopolymer Market Expected to Hit US$ 98 Billion by 2034 with a CAGR of 19.3%

The bioplastic and biopolymer market is anticipated to reach a valuation of US$ 16.8 billion in 2024. The industry is projected to be worth US$ 98 billion by 2034, expanding at a CAGR of 19.3% between 2024 and 2034. The market is undergoing substantial growth driven by increased global focus on sustainable and eco-friendly alternatives. Derived from renewable resources like corn, sugarcane, and algae, bioplastics offer a greener alternative to traditional petroleum-based plastics.

Biopolymers, a subset of bioplastics, include natural polymers like starch, cellulose, and proteins. Key factors fueling market expansion include rising environmental awareness, governmental regulations promoting sustainable practices, and growing consumer demand for eco-friendly products. Bioplastics and biopolymers, distinguished by their biodegradability and reduced carbon footprint, address concerns associated with conventional plastics. Major industry players invest significantly in research and development to enhance product performance and broaden application areas, from packaging to automotive components. As the demand for sustainable solutions continues to surge, the market is poised for further expansion.

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Key market trends and highlights include the increasing environmental consciousness driving demand for eco-friendly alternatives. Utilizing renewable resources like corn and sugarcane in bioplastics reduces dependence on fossil fuels. Stringent regulations promoting sustainable practices contribute to market growth, urging businesses to adopt greener solutions. Substantial investments in research and development aim to enhance the performance characteristics of bioplastics and biopolymers, ensuring their suitability for various applications.

Key Takeaways from the Market Study

Based on type, the biodegradable type is projected to expand at 18.9% CAGR by 2034.
China is estimated to register at a CAGR of 19.9% by 2034.
South Korea experiences significant growth, projected at a CAGR of 22.1% by 2034.
Based on end-use industry, packaging is anticipated to expand at a CAGR of 18.7% by 2034.

“A pivotal driver for the bioplastic and biopolymer market is the escalating global emphasis on environmental sustainability,” comments a Future Market Insights analyst.

Competitive LandscapeTop of Form

The competitive landscape of the bioplastic and biopolymer market is characterized by a diverse array of players, both established multinational corporations and emerging entities.

Key industry participants leverage their experience, financial strength, and extensive networks. Innovations, sustainability initiatives, and adherence to quality standards play crucial roles in positioning companies. As the market advances, players are expected to intensify research, development, and collaborations to maintain competitiveness in this dynamic and environmentally conscious sector. Some key developments are:

In October 2022, Braskem expanded its I’m green^TM biopolymer production by 30%. This partnership doubled the capacity of I’m green^TM
In June 2021, BASF introduced Hydagen, a texturizing biopolymer approved by COSMOS. Derived from the tuber of the konjac plant in Southwest China, this rheology modifier offers cold processability. This innovation from BASF brings a sustainable and natural texture-enhancing solution to the market, meeting the standards set by COSMOS for cosmetic and personal care formulations.

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Top of FormMore Valuable Insights Available

Future Market Insights offers an unbiased global bioplastic and biopolymer market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034

To understand bioplastic and biopolymer market opportunities are segmented based on Type (Biodegradable, Non-Biodegradable, Others), End-Use Industry (Packaging, Consumer Goods, Automotive and Transportation, Textile, Agriculture, Others), and Region (North America, Latin America, Europe, East Asia, South Asia, Oceania, Middle East and Africa)

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Nandini Singh Sawlani

Smart Shoes Market: Likely to Expand Its Roots at a Robust CAGR of 22.7% by 2033

During the forecast period, the smart shoes market is poised to expand its roots at a robust CAGR of 22.7%. In 2023, the market is expected to hold a share of US$ 269 million, while it is anticipated to surpass a value of US$ 2.1 billion by 2033.

Smart wearables, including smart shoes, are witnessing a significant surge driven by a growing interest in health and fitness among consumers.
Smart shoes are becoming increasingly popular due to their ability to track essential data such as running routes, calories burned, and activity speed, making them highly desirable for health-conscious individuals.
Expectations are high for smart shoes to become one of the most sought-after products in the market, as their functionality aligns with the evolving pursuit of well-being.
Technologies like GPS navigation are expected to further enhance the applicability of smart shoes in today’s tech-savvy age.
Navigation shoes are predicted to be the best-selling category in the smart shoe market, accounting for more than half of global smart shoe sales, according to FMI’s analysis.
Step-counting smart shoes also remain popular among consumers of smart footwear.
Leading smart shoe manufacturers are focusing on improving various aspects such as cushioning effect, stability, road-holding ability, breathability, shock absorption, and lightweight design to enhance the overall customer experience.
Anticipate more innovation in the smart shoe industry as manufacturers invest efforts in developing innovative offerings to gain higher traction in the market.

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Key Manufacturers of Smart Shoes Preferring Technological Collaborations, Targeting New Product Launches

The market is dominated by global brands such as Under Armour, Nike, and Puma among others. However, the study highlights that Chinese players have been strategizing on strengthening their market footprint, recently, boosting the level of competition further.

Moreover, relatively smaller, private-label brands are securing their position in the global smart shoe market by offering competitively priced products, which is likely to emerge as a point of concern for industry giants in the long run.From Nike’s self-lacing sneakers launched a couple of years ago, followed by Li Ning’s smart shoes enabled with military-grade motion sensors, in partnership with Xiomi, product innovation has been the most preferred developmental strategy among leading players.

Over innovation, leading companies in smart shoe market are entering strategic partnerships with tech giants.

The strategic partnership between SR Max (SR Max Slip Resistant Shoes) and Sole Power, LLC to jointly develop self-charging smart work boots, and that between Genesis Rehab Services and Sensoria Fitness for the development of a smart footwear product for diabetes patients, mark some of the recent examples.

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Puma’s relaunch of the oldest RS-Computer Shoes (2022) initiated a trend wave of launching older products in the category, with technological and feature upgrade.

The report has a dedicated section for strategic profiles of some of the most prominent players actively competing in the global smart shoe market landscape. A few among them include

Under Armour, Inc.
Nike, Inc.
Digitsole
Adidas Group
PUMA SE
Salted Venture Inc.
No new folk studio Inc.
Sole Power, LLC
Powerlace Technology Inc.
Intellinium
B-Shoe Ltd.
Zhor-Tech.
Li Ning Company Limited
361 Degrees International Limited

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Smart Shoe Market By Category

By Product Type:

Step Counting Shoes
Positioning Shoes
Navigation Shoes

By End User:

Adult
Children
Senior Citizen

By Consumer Orientation:

Male
Female
Unisex
Boys
Girls

By Application:

Healthcare Footwear
Smart Safety Footwear
Sports Footwear
Comfort Footwear

By Sales Channel:

Modern Trade
Convenience Stores
Specialty Stores
Multi-Brand Stores
Online Retailers
Other Sales Channel

By Region:

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

Author

About Future Market Insights (FMI)

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

Contact Us:

Nandini Singh Sawlani

Sustainable Solutions: Exploring the Growth of the Eco-Friendly Paper Plates Market in Europe

The European market for eco-friendly paper plates has witnessed remarkable growth in response to increasing awareness of environmental issues and changing consumer preferences. This surge can be attributed to several factors, including regulatory initiatives, consumer awareness campaigns, and the efforts of industry players to innovate and develop sustainable alternatives.

In recent years, there has been a notable shift towards eco-conscious consumerism, with individuals and businesses alike seeking alternatives to traditional disposable products that have a lower environmental impact. One such product that has gained significant traction is eco-friendly paper plates. These plates offer a sustainable alternative to their plastic counterparts, catering to the growing demand for environmentally responsible options.

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Overview of Global Eco-friendly Paper Plates Market

The global eco-friendly paper plates market size is estimated to capture a valuation of US$ 1.17 billion in 2023 and reach US$ 1.82 billion by 2033. The global market is anticipated to capture a CAGR of 4.5% during the forecast period.

Challenges and Driving Factors in the Eco-friendly Paper Plates Market

The global market focuses on providing sustainable alternatives to single plastic uses. It is influenced by various driving and challenging factors. Some of the key challenges in the global market are:

Challenges in the Global Market

Cost Competitiveness:Eco-friendly paper plates are made up of compostable materials that are easily biodegradable. These plates are cost-effective as compared to plastic plates. Therefore, consumers prefer to increase the adoption of eco-friendly paper plates over expensive ones.
Consumer Awareness: Consumers are fully aware of the environmental impact of single-use plastic plates. They are sometimes not perceived to choose eco-friendly products. Therefore, educating them and raising awareness is still a challenging factor.
Supply Chain and Raw Material Sourcing: The availability of raw materials for making eco-friendly paper plates can be limited. Therefore, manufacturers faced challenges supplying reliable and stable raw materials for these plates.
Durability and Performance: Manufacturers are enhancing the performance and durability of eco-friendly paper plates without lacking their integrity by offering food and liquids. These plates are developed with high raw materials standards that attract consumers’ desire.

Driving Factors in the Global Market are:

Environmental Concerns: The growing consumer awareness of environmental issues such as ecosystems and marine life impacts is fueling the global market. Consumers are more concerned about seeking eco-friendly alternatives to reduce hazardous pollution.
Regulation Initiatives: Government bodies are implementing rules and regulations to ban single-use plastics. They are promoting the adoption of eco-friendly alternatives to expand the global market.
Corporate Social Responsibility:Several organizations and businesses are taking initiatives to take environmental responsibility and sustainability. To maintain sustainability, these organizations are increasing the adoption of eco-friendly paper plates for meetings, events, and corporate parties.
Changing Consumer Preferences: Changing consumer preferences and growing awareness among the young generation to increase the adoption of sustainable products are advancing global market revenue.
Innovation and Product Development: Manufacturers are improving eco-friendly paper plate quality, performance, and design by investing hugely in research activities. They are adopting advanced technologies and innovations to lift the market upward.

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Key Takeaways:

The global eco-friendly paper plates market is estimated to capture a valuation of US$ 1.82 billion with a CAGR of 4.50% by 2033.
The United States is anticipated to dominate the global market by capturing a share of 19.60% during the forecast period.
Japan is estimated to secure a share of 4.10% in the global market by 2033.
With a share of 4.70%, Germany is significantly driving the global market during the forecast period.

How are the Key Players Adding Value in the Global Market?

The global market is highly competitive by several leading key players globally. These players contribute to the global market by innovating unique products. These players are adopting various marketing methodologies such as mergers, acquisitions, collaborations, and agreements.

Recent Developments in the Global Market are:

In 2021, Huhtamaki Oyj announced its acquisition of Elif to enhance its portfolio in sustainable 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.

Contact Us:

Nandini Singh Sawlani