The meat mincer market is experiencing steady growth, fueled by several key factors:
Convenience Craving: Consumers are busier than ever and seek convenient meal solutions. Meat mincers empower them to grind meat at home for quick and easy dishes like burgers, sausages, and more.
Ethnic Cuisine Craze: The global popularity of ethnic cuisines featuring minced meat dishes is driving demand for meat mincers.
Health-Conscious Consumers: Some believe grinding their own meat allows for greater control over quality and fat content, appealing to health-focused consumers.
Affordability Boost: Meat mincers are becoming more accessible due to decreasing prices, reaching a wider consumer base.
Beyond this growth, the market witnesses a trend towards premiumization. Consumers are willing to invest in high-quality meat mincers featuring advanced functionalities such as:
Variable Grinding Plates: Offering control over the coarseness of ground meat based on the desired recipe.
Dishwasher-Safe Parts: Simplifying cleaning and maintenance, a major convenience factor.
Opportunities for Growth
The meat mincer market presents exciting opportunities for expansion:
New Market Exploration: The market holds untapped potential in regions like Asia and Africa. Manufacturers can develop products tailored to local preferences and needs.
Innovative Features: Developing novel functionalities like vegetable or fruit grinding attachments can broaden the appeal of meat mincers.
E-commerce Focus: Online sales are a growing channel. Investment in search engine optimization (SEO) and pay-per-click (PPC) advertising can boost online sales.
The future of the meat mincer market is expected to be shaped by these emerging trends:
Smart Mincers: Integration of features like Bluetooth connectivity will allow users to control and monitor their mincers remotely via smartphones.
Sustainable Materials: The focus on eco-friendly practices will likely lead to the use of sustainable materials like recycled plastic and bamboo in meat mincer production.
Personalized Experiences: Manufacturers might explore features like recipe apps suggesting dishes based on the type of meat being ground, creating a more personalized user experience.
The demand for aluminium chemicals is expected to reach US$ 168 billion in 2022 and is projected to increase at a CAGR of 4.5% to reach US$ 260 billion from 2022 to 2032. Due to their extensive uses in the water treatment, oil and gas, and agricultural industries, aluminium chemicals are widely used.
Aluminium is a silvery white chemical element that belongs to the boron group. It has symbol Al, atomic number 13 and under normal circumstances it is insoluble in water. Aluminium is ductile that can be drawn into wires and malleable which can be beaten into thin sheets. Aluminium chemical known as aluminium trihydrate is produced from bauxite by the bayer process which is used in production of aluminium metal.
The major aluminium trihydrate end use application consist of raw materials for production of chemicals that contain aluminium, reinforcement fillers and flame retardants in elastomers, plastics, adhesives and other products, coatings and filler pigments in papermaking among others. Aluminium sulfate is used as a flocculating agent for water purification.
Aluminium hydroxide is found naturally as a mineral named gibbsite that is also known as hydrargillite is used as a feedstock for manufacture of aluminium compounds such as specialty calcined alumina among others. Sodium aluminate is an inorganic commercial chemical which is an effective source of aluminium hydroxide. This chemical has various technical and industrial applications.Aluminium silicate, aluminium phosphide and poly aluminium chloride are other aluminium chemicals which are used in textile, paper and medical industry among others.
Aluminium is extracted by two process such as Bayer process followed by hall method. In the Bayer’s process bauxite is mixed with sodium hydroxide that dissolves in aluminium oxide. The other compounds from bauxite are left at the rear. The aluminium oxide is then treated with a Hall method. Enough cryolite is not available to make aluminium that is needed and therefore, synthetic cryolite is produced for this purpose.
Aluminium has wide areas of applications. It is used as pure metal in various compounds and alloys which is made by melting and mixing more than two metals. The aluminium chemicals also find a large area of application such as textile, medical, paper and fertilizers among others. Aluminium sulfate which is also known as alum is used in the paper and pulp industry on a large scale. The other application of alum is in the water treatment plants Aluminium based intermediates are use in the production of paints, tires, textiles, leather, foods and fertilizers among others. Aluminium acetate is a salt that is used as an astringent. Aluminium borate has application in glass and ceramics. Aluminium fluorosilicate is also used to produce glass and synthetic gemstones. Aluminium hydroxide is used as a mordant and as an antacid to purify water.
The major driving factors for aluminum chemicals market is huge demand from water treatment plants and growing use of aluminium chemical in the glass and ceramic industry. Chemicals such as aluminium hydroxide, aluminium borate and aluminium sulfate are used on a large scale owing to the wide areas of applications in the market therefore boosting demand for aluminium chemicals in the market.
The major segments for aluminium chemicals market include North America, Asia Pacific, Europe and Rest of the World (RoW). China is the largest consumer of aluminium chemicals for manufacture of electronic products and plastics materials that are used to manufacture automobile parts. Therefore, Asia Pacific is expected to be the largest market for aluminium chemicals. North America is anticipated to boost demand for aluminium chemicals for manufacture of ceramics, paints and adhesives among others.
Top Key Players in the Aluminum Chemicals Industry
Krishna Chemicals
Sumito chemicals
General Chemical USA
Hindustan Produce Company
This research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically-supported and industry-validated market data and projections with a suitable set of assumptions and methodology. It provides analysis and information by categories such as market segments, regions, product types and distribution channels.
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.
The global industrial wastewater treatment chemical market size is estimated to rise at a CAGR of 5.8% over the forecast period. In 2024, the brain biomarkers industry is estimated to be valued at US$ 15.3 billion. The market is expected to surpass US$ 26.8 billion by 2034.
The rising need for wastewater recycling for reusing and the rising demand for disinfectant water treatments is expected to create significant opportunities for the market. The regular cost of maintenance, for instance, stifles market growth. Furthermore, rising demand for more environmentally friendly procedures, as well as a shift toward alternative water treatment technologies, are potential restraints to the overall development of the global industrial wastewater treatment market. However, technological advancements, the construction of industrial water treatment plants, and innovative product designs offer favorable growth opportunities.
The increasing industrialization worldwide is projected to drive the future of the industrial wastewater treatment chemical market. As more individuals shift to cities and industrial activity rises, there is a requirement for effective wastewater management solutions. This burdens industries to reduce their environmental impact while meeting increasingly stringent regulatory requirements.
Rising government initiatives toward an environment-friendly nature are expected to create significant opportunities in the market. Individuals and citizens are demanding chemical water treatment for cleaning purposes worldwide.
The global industrial water treatment chemicals market depends highly on product quality, manufacturers and distributors, and their regional presence. Furthermore, the source of the products plays a vital role in the industry’s growth.
“Manufacturers are increasingly focusing on research and development activities related to the production and application of bio-based products across a variety of end uses as current trends support bio-based alternatives over traditional synthetically produced water treatment.” says an FMI analyst.
Key Takeaways from the Market Study
The global industrial wastewater treatment chemical market is estimated to register a CAGR of 5.8% with a valuation of US$ 26.8 million by 2034.
The United States is anticipated to dominate the global market by registering a 6.1% CAGR during the forecast period.
With a 7.1% CAGR, China is likely to rapid growth in the global market through 2034.
Japan is anticipated to secure a CAGR of 7.1% in the global market during the forecast period.
Competitive landscape
In recent years, there has been a surge in investment and collaboration within the industry with venture capital firms and businesses. These strategic partnerships and financial investments accelerate research and development, scale production, and expand market reach. Key players have initiated promotional activities to introduce the design and engineering of novel motors with enhanced efficacy.
Recent Development
In 2023, Solenis made a strategic alliance with CedarChem, enhancing water and wastewater treatment capabilities in the Southeastern U.S. acquisition increases customer value for water and wastewater treatment sales and services while supporting a direct-to-market strategy.
In 2021, Ecolab Introduces a Comprehensive End-to-End Flotation Optimization Solution for mining and mineral processing. A comprehensive approach to flotation in mineral processing. The solution combines advanced collector chemistries from Nalco Water with a global technical support team and digital diagnostic tools monitoring the chemical, operational, and mechanical levers influencing performance.
Industrial Wastewater Treatment Chemical Market Key Players
BASF SE
Nalco-Ecolab
Kurita Water Industries
Ion Exchange
Thermax Limited
Siemens AG
Veolia Environnement
Dow Chemical Company
DuPont de Nemours, Inc.
Solvay S.A.
Ecolab Inc.
Evoqua Water Technologies
Trojan Technologies
Aquatech International Corporation
Xylem Inc.
Danaher Corporation
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.
In 2023, the roll-your-own tobacco products market is estimated to be worth US$ 31 billion. By 2033, it is projected to reach a value of US$ 45 billion. The adoption of roll-your-own tobacco is expected to progress at a Compound Annual Growth Rate (CAGR) of 3.8% during the forecast period.
The roll-your-own tobacco product’s consumption has been increasing in the developed economies. The main factor boosting the growth of the roll-your-own tobacco product market is the low health risk associated with RTO tobacco and the less price associated with them.
The rising urbanization and the expanded prominence of cigarettes among the youth are the key elements driving the development of the market. The increasing health consciousness among the population changes the prevalence of smoke globally, leading to a decrease in sales of tobacco this may hinder the growth of the market. The RYO tobacco segment is likely to offer remunerative opportunities for the global roll-your-own tobacco product market. Several emerging economies are making significant developments in their technological sector, thereby, providing lucrative opportunities to players in the market.
By product, the RYO Tobacco segment accounts for a share of 39.5% in 2022-2032
By distribution channel, the offline segment accounts for a market share of 84.5% during the forecasting period.
Market in UK to procure a market share of 64.5% during the assessment period
Market in china accounts for 4.3% CAGR during the forecasting period.
“The rising disposable income and growing consumption of tobacco in women, as well as teenagers are expected to fuel the demand for roll-your-own tobacco product market over the forecast period,” says an FMI analyst.
Competitive Landscape
Key players in the global roll-your-own tobacco product market are Imperial Brands; British American Tobacco; Scandinavian Tobacco Group A/S; Altria Group, Inc.; Philip Morris International; HBI International; Curved Papers, Inc.; Karma Filter Tips; Shine Brands; and Japan Tobacco International
Recent updates from the industry are:
In September 2020 – JTI (Japan Tobacco International) has extended its technology partnership agreement with Sauber Engineering AG (SEN), a leading player in technology and prototype development and part of the Sauber Group of Companies. Through this partnership, both companies will continue to collaborate on the development of precision engineering projects aimed at increasing the performance of the next generation of JT Group products.
In March 2021- BAT Group (BAT) announces a strategic collaboration agreement with Organigram Inc., to focus on research and product development activities next-generation adult cannabis products, with an initial focus on cannabidiol (CBD).
In July 2021– Philip Morris International Inc. (PMI) announced an agreement to acquire Fertin Pharma A/S. This acquisition is a significant step forward on our journey toward delivering a smoke-free future—enhancing smoke-free portfolio, notably in modern oral, and accelerating progress beyond nicotine
Key Segments Covered in the Roll-Your-Own Tobacco Products Industry Analysis
by Product:
RYO Tobacco Products
Roll-Your-Own Tobacco Papers & Cigarette Tubes
Roll-Your-Own Tobacco Injector
Roll-Your-Own Tobacco Filter & Paper Tip
by Distribution Channel:
Offline Distribution of Roll-Your-Own Tobacco Products
Online Distribution of Roll-Your-Own Tobacco Products
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global roll-your-own tobacco products market presenting a historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of product (RYO tobacco, rolling paper & cigarette tubes and injector and filter & paper tip) and by distribution channel (offline and online) across five major regions (North America, Europe, Asia Pacific, Middle East & Africa and Latin America)
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.
low-sodium sea salt market set projected increase at a 7% CAGR from $118 million in 2023 to $222.3 million in 2033. The desire to lower salt i Health problems related to high sodium intake motivate the need to reduce intake in order to lessen the risk of hypertension and cardiovascular disease.
The market for low-sodium sea salt is projected to be valued US$ 118 million in 2023 and US$ 222.3 million in 2033. By 2033, the market is anticipated to grow at a CAGR of 7%.
Why is the Demand for Low Sodium Sea Salt Growing Rapidly?
Several factors are rising the demand for low-sodium sea salt are as follows:
Health Consciousness:encouraging customers to lead healthy lives and reducing health concerns like high blood pressure, kidney problems, and heart disease. The demand for low-sodium sea salt is rising in an effort to preserve sodium intake while enhancing food flavour.
Dietary Restriction: To consume the least amount of salt possible, many people follow their diet. For instance, doctors advise patients with illnesses like high blood pressure and hypertension to consume less sodium.
Flavor Enhancement: Low-sodium sea salt is increasingly in demand since it improves the flavour, texture, and taste of food. To reduce the sodium content of their meals, some consumers favour using table salt. To keep your health and wellness, choose this healthier alternative.
Product Availability: High-quality, natural, low-sodium sea salt is being created by businesses to fulfil consumer demand and to be more readily available. To target the right customers, many businesses sell their items in both online and physical stores.
These are a few factors that increase the demand for low-sodium sea salt by enhancing food flavor and evolving culinary trends.
The low sodium sea salt market is estimated to secure a valuation of US$ 222.3 million with a CAGR of 7% during the forecast period.
Historically, the market secured a valuation of US$ 102.8 million with a CAGR of 2.5% between 2018 and 2022.
The United States is dominating the global market by capturing a share of 17.7% during the forecast period.
Japan is estimated to register a share of 3.2% in the global market by 2033.
With a share of 7.5%, Germany is anticipated to drive the global market during the forecast period.
Strategies Adopted by Players in this Market:
Key players adopted various strategies in the global market are:
Product Innovation: Key players invest a lot in research and development activities to establish new and unique products. They are developing a variety of low-sodium sea salt with unique flavors and tastes, including lemon-infused, to attract consumers.
Partnerships and Collaborations: The key players are expanding their business by collaborating and partnering with food organizations and industries. Through these, they can reach their relevant consumers and increase sales volume. These strategies help them to know about the product, its accessibility, and its visibility.
Health Education: The key players are actively involved in educating their customers about the benefits and advantages of their products. They provide accurate, informative content on the online platform to understand them. These players also visit trade shows and exhibitions to reach relevant audiences.
These are a few strategies the key players are adopting to fuel the global market.
In 2021, RobertBrews launched its new product line of low sodium sea salt by adding new flavors. This product added vegan ingredients and is gluten-free.
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.
The fire resistant hydraulic fluid market is anticipated to be valued at US$ 1.5 billion by 2024. The market valuation is estimated to be US$ 2.2 billion by 2034, projected at a CAGR of 3.9%.
The market is witnessing significant growth driven by increasing awareness of workplace safety standards and regulations. These fluids are crucial in preventing fire hazards in hydraulic systems used across various industries, including manufacturing, construction, mining, and automotive.
Stringent regulations mandating the use of fire-resistant fluids to minimize the risk of workplace accidents have propelled market growth. Technological advancements have developed advanced formulations with superior fire resistance and performance characteristics.
The market is witnessing a shift towards biodegradable and eco-friendly formulations in response to growing environmental concerns. Bio-based hydraulic fluids derived from renewable sources are gaining traction due to their reduced environmental impact and regulatory compliance.
Regional dynamics also play a significant role in shaping the market landscape. Countries like the United States, South Korea, Japan, China, and the United Kingdom are major contributors to market growth due to their strong industrial bases and stringent safety regulations.
Despite the positive outlook, the market faces challenges such as the higher upfront cost of fire-resistant fluids compared to conventional options and compatibility issues with existing equipment. However, the long-term benefits of reduced downtime, maintenance costs, and enhanced workplace safety outweigh these challenges, driving continued adoption.
The fire-resistant hydraulic fluid market is poised for further growth, driven by ongoing industrialization, technological innovation, and a growing focus on safety and sustainability across industries. As companies prioritize worker safety and regulatory compliance, the demand for fire-resistant hydraulic fluids is expected to remain strong in the foreseeable future.
Key Takeaways from the Market Study
Under product type, the water-based segment is registered to expand at 3.7% CAGR by 2034.
The United Kingdom is estimated to register at a CAGR of 5% by 2034.
China experiences significant growth, projected at a CAGR of 4.3% by 2034.
Based on the application, the metal processing segment is anticipated to expand at 3.5% CAGR by 2034.
“The increasing emphasis on workplace safety and the need to mitigate fire hazards in industrial settings is one significant driver for the fire resistant hydraulic fluid market,”– says an Analyst at Future Market Insights (FMI).
In the competitive landscape of the fire resistant hydraulic fluid market, focuses on developing advanced formulations to meet stringent safety standards and enhance performance.
Collaborations with equipment manufacturers and distributors enable them to expand their market reach and maintain a competitive edge. Some of the key developments are:
In September 2020, Clariant, a multinational chemical company, introduced Hostaphat 1738, a phosphate ester derived from sustainable sources specifically designed for metalworking applications. This product serves as a fire retardant hydraulic fluid in the metallurgy industry.
In July 2020, Quaker Chemical and Houghton International merged their businesses, consolidating their divisions, including those focused on manufacturing fire-resistant hydraulic fluids.
Top Key Players in the Fire Resistant Hydraulic Fluid Market
Future Market Insights offers an unbiased global fire resistant hydraulic fluid market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034
To understand market opportunities, the fire resistant hydraulic fluid market is segmented based on Product Type [Water-based {(Oil-in-water Emulsions (ISO HFA), Water-in-oil Emulsions (ISO HFB), Water Glycol Fluids (ISO HFC)}, Anhydrous-based {Phosphate Esters (ISO HFDR), PAG, Polyol Esters}], Application (Metal Processing, Aviation, Marine, Mining, Others) and Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, Middle East and Africa)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
In 2023, the market for pet stain remover and odor control products is estimated to be worth US$ 9 billion. It is anticipated to grow to US$ 14 billion by the year 2033. The adoption of these products is expected to progress at a Compound Annual Growth Rate (CAGR) of 4.5% during the forecast period.
The market is witnessing the emergence of fast-acting stain removers and odor control products that offer rapid results, saving time and effort for users. Incorporating bioactive additives derived from natural sources helps enhance the cleaning power and odor control capabilities of pet stain removers, providing a more eco-friendly solution.
The increasing popularity of e-commerce and subscription-based models offers avenues for online sales and delivery of pet stain remover and odor control products. Building direct-to-consumer channels and offering subscription services can provide convenience and long-term customer engagement. Incorporating pleasant fragrances and aromatherapy elements in pet stain remover and odor control products can create a more enjoyable pet care experience. Offering a range of scents or therapeutic options can tap into the growing demand for well-being-oriented pet products.
Key Takeaways from the Pet Stain Remover and Odor Control Market
As per FMI, the United States is spearheading the growth across North America, surging at a CAGR of 4.3% during the forecast period.
United Kingdom is expected to grow at a CAGR of 4.1% during the forecast period.
As per Future Market Insights, dogs are expected to dominate the animal type with a market share of 41% in 2023.
“The demand for efficient and environmentally friendly solutions to address pet stains and odors is driving substantial growth in the pet stain remover and odor control market. Key players are investing in innovation and sustainability, driving market expansion and meeting evolving consumer needs”, remarks an analyst at FMI.
How Key Players are revolutionizing the Pet Stain Remover and Odor Control market?
Key players in the pet stain remover and odor control market are driving a revolution by introducing innovative solutions that effectively tackle pet-related stains and odors. These companies are investing in research and development to develop advanced formulas and technologies that provide superior cleaning and odor control capabilities.
They are focusing on eco-friendly and pet-safe ingredients, ensuring their products are not only effective but also sustainable. Key players are enhancing user experience through user-friendly packaging, convenient application methods, and improved product performance. With their continuous efforts in product innovation and customer satisfaction, these industry leaders are reshaping the pet stain remover and odor control market and meeting the evolving needs of pet owners worldwide.
Key Players in the Market:
Simple Solution
Angry Orange
Sunny and Honey
Nature’s Miracle
Odo-Rite
Citrus Magic
Skouts Honor Pet Supply Co.
Charmypet Co., Ltd.
RESOLVE
Woolite
BISSELL
Arm & Hammer
Clorox
OxiClean
Hoover
Strategies for Pet Stain Remover and Odor Control Manufacturers to Expand in the Market
Develop eco-friendly formulations to cater to environmentally conscious consumers.
Establish strategic partnerships to expand market reach and distribution channels.
Invest in research and development for innovative cleaning technologies and solutions.
About the Consumer Product Division at Future Market Insights
The consumer product team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Billion+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
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.
According to Future Market Insights, the global automotive repair & maintenance services market is expected to be valued at US$ 915.88 billion in 2023. From 2023 to 2033, the market is projected to rise at a CAGR of 7.2% to reach US$ 1,850 billion.
The market presents significant market opportunities for key players due to the growing trend of vehicle customization, higher disposable income levels, and increasing automotive safety regulations. Additionally, the demand for technologically advanced features further enhances the market potential for these players.
Increasing adoption of vehicle diagnostic tools and higher vehicle sales is expected to drive market growth. A rise in local shop owners and the prevalence of mergers and acquisitions among key players are anticipated to create opportunities for market growth during the forecast period.
To expand their customer base, automotive service companies are increasingly embracing artificial intelligence-based automated vehicle inspection technology for efficient vehicle inspections. A notable example is the collaboration between Scope Technology, a United States-based tech firm, and Microsoft’s Azure cloud computation in February 2022. This partnership aims to develop AI-automated vehicle inspection technology that enables visual inspections in under 5 minutes, resulting in a significant cost reduction of 50%.
Rising penetration of electric vehicles is further projected to drive market growth. This accelerated adoption of electric vehicles can be attributed to government initiatives and support aimed at improving environmental quality and reducing reliance on crude oil. Moreover, it is projected that battery electric vehicle repair and maintenance costs will be approximately 40% lower than those of internal combustion engine vehicles, further driving the market’s expansion.
Key Takeaways
United States automotive repair & maintenance services market is expected to grow with a CAGR of 6.8% during the forecast period.
The market in China is expected to grow with a CAGR of 7.1% during the forecast period.
By vehicle type, the passenger car segment is projected to grow with a significant CAGR of 7.4% during the forecast period.
The market in India is expected to grow with a CAGR of 7% throughout the forecast period.
“Increasing adoption of vehicle diagnostic tools and increasing automobile sales are expected to fuel market growth during the forecast period,” comments an FMI analyst.
Competitive Landscape
The automotive repair & maintenance services market is extremely competitive, with various key industry players investing heavily in providing these services.
The key industry players are Arnold Clark Automobile Ltd., Asbury Automotive Group Inc., Ashland Automotive Group Inc., Belron International Ltd, Driven Brands Inc., Goodyear Tire & Rubber Company, Carmax Autocare Center, Firestone Complete Autocare, Halfords Group PLC, Monro Inc.
Key industry players are utilizing organic growth strategies like acquisitions, mergers, tie-ups, and collaboration to bolster their product portfolio. This is expected to propel the global automotive repair & maintenance services market.
On November 4, 2022, Belron International Ltd. confirmed its submission of a Commitment Letter to the Science Based Targets initiative (SBTi). This letter signifies their determination to establish science-based emissions reduction targets, aligning with the objectives of the Paris Agreement
In March 2021, Monro, Inc. entered into an agreement to acquire Mountain View Tire & Service, Inc. The acquisition not only strengthens Monro, Inc.’s foothold in the western region but also expands its overall presence to a total of 116 stores, further positioning the company in an attractive market.
In July 2022, FullSpeed Automotive® announced its accelerated growth plans through acquisitions to expand to 1,000 units by the end of 2023. As a leading franchisor and operator of automotive aftermarket repair facilities, FullSpeed Automotive® is known for its flagship brands Grease Monkey® and SpeeDee Oil Change & Auto Service®.
Key Segments Profiled in the Automotive Repair & Maintenance Services Industry Survey
By Services & Parts
Engine Oil
Gear Oil
Brake Oil
Grease
Tires
Batteries
Wear & Tear Parts
Air Filter
Cabin Filter
Oil Filter
Wiper Blades
Others
By Service Providers
Automobile Dealerships
Franchise General Repairs
Specialty Shops
Locally Owned Repair Shops
Tire Shops
Others
By Vehicle Type
Passenger Cars
LCV
HCV
By Region
North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East & 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.
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.
The global electric cargo bike market is expected to attain a valuation of US$ 2.1 billion in 2023 and is projected to reach US$ 6.2 billion by 2033, expected to rise at a CAGR of 11.4% during the forecast period.
The rise of e-commerce has sparked an increased need for last-mile delivery services, a demand that electric cargo bikes are well-positioned to meet. In urban areas, where congestion and limited parking spaces can hinder delivery vans or trucks, electric cargo bikes offer an efficient solution. These bikes enable quicker and more cost-effective deliveries, addressing the challenges of congested urban environments. With the continued growth of e-commerce, the demand for electric cargo bikes is expected to rise further.
The demand for electric cargo bikes is anticipated to rise due to increased investments from key players driven by the growing e-commerce industry. For example, on November 24, 2022, Amazon, specializing in e-commerce, announced plans to expand its United Kingdom electric-cargo bike fleet in the coming years. This expansion aims to enhance foot-based deliveries, contributing to the decarbonization of the transportation network used for package deliveries across the country.
The rise in e-commerce and the impact of the pandemic have led to an increased demand for home deliveries of products and services. In response, businesses and industries are investing more in improving logistics and transportation to minimize downtime, save costs, and enhance customer satisfaction.
Key Takeaways
The United States electric cargo bike market is expected to grow with a CAGR of 9.5% during the forecast period.
The demand for electric cargo bikes in Australia is expected to grow with a CAGR of 11.5% during the forecast period.
By battery type, the lithium-ion battery segment is projected to grow with an impressive CAGR of 12% during the forecast period.
The market in Germany is expected to grow with a significant CAGR of 11.6% throughout the forecast period.
“The thriving e-commerce industry and use of electric cargo bikes for fast parcel deliveries are expected to drive market growth during the forecast period,” comments an FMI analyst.
Competitive Landscape
The market for electric cargo bike is highly competitive, with numerous prominent industry players making substantial investments in their production.
The key industry players are Jiangsu Xinri E-Vehicle Co. Ltd., Jinhua Jobo Technology Co., Ltd., CERO ELECTRIC CARGO BIKES, Worksman Cycles, DOUZE Factory SAS, XYZ CARGO, Butchers & Bicycles ApS, NIHOLA, Babboe, Yuba Electric Cargo Bikes, BODO Vehicle Group Co., Ltd. (LUXMEA), Chongqing Mobimax Technology Co., Ltd., Carqon (Accell Group N.V.), XCYC (Gemeinnützige Werkstätten und Wohnstätten GmbH ), Riese & Müller GmbH, Urban Arrow, Rad Power Bikes Inc., Tern Bicycles (Mobility Holdings, Ltd.), Pedego Electric Bikes, Xtracycle Inc, Amsterdam Bicycle Company, Triobike.
Some recent developments in the electric cargo bike market are:
In October 2022, French company Douze Cycles introduced a series of cargo bikes comprising four models, three of which feature electric assistance. These bikes offer an impressive hauling capacity of up to 205 kg.
In June 2022, Tern unveiled NBD, a low-step e-bike capable of supporting a maximum gross vehicle weight of 140 kg. It features a rear rack with a capacity of up to 27 kg and a front rack that can handle up to 20 kg.
DOUZE Factory SAS, a French company specializing in cargo bike design and manufacturing, revealed a collaboration with Toyota on March 8, 2023. Together, they will co-develop and launch a new lineup of electric cargo bikes.
On November 3, 2022, Yuba Bikes from California introduced their popular non-motorized ‘longtail’ bicycles. These bikes have an extended deck for carrying cargo or passengers. Yuba expanded their cargo bike range with the new Fastrack model, featuring a patent-pending integrated Dual Rack System that can be adjusted in four ways to accommodate different cargo or passenger.
Key Segments Profiled in the Electric Cargo Bike Industry Survey
By Product Type:
Two Wheeled
Three Wheeled
Four Wheeled
By Battery Type:
Lead-Based
Nickel Based
Lithium Ion
By End-Use:
Courier & Parcel Service Provider
Large Retail Supplier
Personal Transportation
Service Delivery
Waste & Municipal Services
By Region:
North America
Latin America
Europe
Asia Pacific
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.
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.
By the year 2023, it is projected that the global market size for water dispensers will reach approximately US$2,723.1 million. Over the period from 2023 to 2033, sales of water dispensers are forecasted to experience strong growth, with a solid Compound Annual Growth Rate (CAGR) of 8.9%. By 2033, the demand for water dispensers is expected to reach a valuation of US$ 6,383.1 million.
Market Catalysts for Water Dispenser Growth
Health and Hygiene Awareness: Increasing consumer awareness regarding the importance of clean and safe drinking water is a significant driver in the water dispenser market.
Demand for Filtered or Purified Water: Consumers are increasingly seeking water dispensers that provide filtered or purified water, driven by concerns over toxins and diseases transmitted through water.
Improving Infrastructure: Infrastructure development and enhanced accessibility to potable water are key factors propelling the water dispenser market forward.
Dependable Source of Clean Drinking Water: In areas facing challenges with water quality or availability, water dispensers serve as reliable sources of clean drinking water, addressing the need for safe hydration options.
The water dispensers market is restricted by two main factors, including frequent component replacement and escalating costs, particularly during the summer, in addition to experiencing unheard-of water dispenser market growth. Two factors are limiting the water dispenser market adoption trends.
The water dispenser market size expansion during the busiest summer months may be hindered by frequent product components and higher costs. These elements are anticipated to limit water dispenser market growth as well as water dispenser market trends.
KEY TAKEAWAYS:
More than 70% of the water dispenser market was made up of bottled goods, and it is anticipated that water dispensermarket trendand forecasts will continue.
Through 2032, the bottleless product category of the water dispenser market is anticipated to grow at the fastest rate, 9.9%.
The majority of the water dispenser market was dominated by the commercialapplication
The segment that will grow the fastest is predicted to be the industrial application.
The commercial application segment’s hospitality sector is projected to grow at the highest CAGR, 9.9%.
With a 42.60% water dispenser share, the retail store sector had the largest water dispensershare.
Through 2032, Asia Pacific is anticipated to have the highest CAGR of 11.0% for the water dispenser size.
India is anticipated to grow at a healthy CAGR in the water dispenser market.
“It is evident that water dispensers have become pivotal solutions in addressing the escalating demand for clean drinking water. The study underscores key drivers such as portability, ease of use, and the burgeoning adoption of infrared sensors, while also recognizing challenges related to frequent component replacement and escalating costs during peak seasons.” opines Sneha Varghese, Senior Consultant, Consumer Products & Goods at Future Market Insights (FMI).
Primo Water Corporation (formerly, Cott Corporation)
Honeywell International Inc.
Culligan International Company
Clover Co. Ltd.
Waterlogic Holdings Limited
Midea Group Co. Ltd.
A.O. Smith Corporation
Edgar’s Water
The research offers a comprehensive competition analysis of these top competitors in the water dispenser market, including water dispenser market growth, water dispenser market share, water dispenser market key trends and opportunities and important water dispenser market statistics.
Recent Developmentin theWater Dispenser:
Acquisition:
Four reputable institutional investors—British Columbia Investment Management Corporation (BCI), Neuberger Berman, StepStone, and Skandia—have acquired a sizeable minority stake in Waterlogic Holdings Limited, the company announced in April 2020. With the help of the capital obtained from this acquisition, the business was able to expand more quickly and take the lead globally in the quickly expanding market for bottle-free workplace hydration.
Product Launch:
Aquaverve announced in September 2020 that its touchless water cooler line would be available. The Oceanik Touchless Bottleless Cooler and the Pacifik Touchless Bottleless Cooler are two models of touchless water coolers that they created. The Pacifik model can be ordered both with and without a bottle.
A significant player in the under-the-sink market, iSpring provides a 5-stage reverse osmosis filtration system. Due to the water’s neutral flavour, it is very well-liked by residential end users.
A significant player in the market, Glug Glug Glug provides a wide selection of water dispensers, such as the AA5C and AA5F for staff areas, canteens, sports facilities, and student common areas.
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.
