Market Research Blog – Page 3570 – New Product Development

Fuel the Cycling Revolution: The US$ 28.3 Billion Bicycle Components Aftermarket Offers Lucrative Opportunities

The Bicycle Components Aftermarket in 2022 was US$ 14 Billion and is estimated to be US$ 14.62 Billion in 2023. According to FMI analysis, the bicycle components aftermarket is projected to expand at a CAGR of 6.9% between 2023 and 2033, totaling around US$ 28.3 Billion by 2033.

The surge in demand for bicycle components aftermarket has been seen amid the worsening conditions of automobile traffic, leading to high gasoline prices, and disturbing pollution concerns. Further, the global bicycle components aftermarket has been characterized by the corresponding concentration of production in a few countries leading to the correspondence of dispersion in the global demand.

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Growth in fitness consciousness among people directly raises energy and oil prices, with the rise in vehicles cited acts a key factor favoring the growth of the bicycle components aftermarket.

Rapid growth in the development of cycling and e-bike infrastructures with the implementation of bike-sharing programs in metropolitan and mid-sized cities creates a favorable environment for the development of the bicycle components aftermarket, as per FMI’s analysis.

Key Takeaways from this study are:

The Anticipated value of the global bicycle components aftermarket reached a valuation of US$ 13.5 billion in 2021.
Sales in the bicycle components aftermarket are anticipated to expand by 8.7 X times from 2023 to 2033.
The United States holds a market share of 35.6% in the global bicycle components aftermarket.
North America’s bicycle components aftermarket has a market value of 40.2%.
China is one of the significantly growing markets for bicycle components, holding around 2/3rd of East Asia bicycle components aftermarket.
Based on component type, demand for road groupsets is expanding at a 7.2% CAGR over the assessment period.
Based on bicycle type, the electric bicycle segment is expected to capture a market share of 62%.

“Increase in the demand for bicycles are the key opportunity for bicycle components aftermarket manufacturers,” – comments an analyst at Future Market Insights (FMI).

Competition Landscape:

The global bicycle components aftermarket players are attempting to carve out a niche for a particular demographic. Also, some leading and middle-scale manufacturers are focusing on product innovation and high-end technology development in the market to gain a competitive edge.

Some of the prominent players profiled in the Bicycle Components Aftermarket market are:

Dorel Industries, Inc.
Accell Group N.V.
Shimano Inc.
SRAM LLC
Hero Cycles Limited
Campagnolo S.R.L.
Merida Industry Co. Ltd.
Specialized Bicycle Components
Rohloff AG
Giant Manufacturing Co. Ltd.
Avon Cycles Ltd.

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Key developments in the Bicycle Components Aftermarket:

In January 2023, Shimano Announces New Fishing Reels for 2023. Shimano North America Fishing, a legendary innovator in the fishing tackle industry, has announced new additions to its deep lineup of quality reels. These three new offerings will provide extensive value to a wide spectrum of anglers from saltwater bottom fishermen, tournament-savvy bass enthusiasts, and devoted swimbait experts.
In May 2023, Kinaxis® Inc., the authority in driving agility for fast, confident decision-making in an unpredictable world, announced that Accell Group has deployed Kinaxis’ RapidResponse® platform, digitally transforming its supply chain, providing solutions to supply chain complexities.

Key Segments Covered are:

By Component Type:

Derailleurs
Road Groupsets
Suspensions
Wheel Sets
Brakes
- Hydraulic
- Mechanical

Caliper Type
Gears
Others (Bottom Brackets etc.)

By Sales Channel:

Specialty Bicycle Retailers
Discount Stores
Department Stores
Full-line Sporting Goods Stores
Outdoor Specialty Stores
Other Sales Channel

By Bicycle Type:

Mountain Bike
Hybrid/Cross
Road
Comfort
Youth
Cruiser
Recumbent/Tandem
Electric
Folding

By Region:

North America
Latin America
Europe
East Asia
South Asia Pacific
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.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Automotive Garage Equipment Market to Reach US$63.1 Billion by 2033

The global automotive garage equipment market in 2022 was US$ 24.4 billion and is estimated to be US$ 26.8 billion in 2023. Future Market Insights has mentioned in its reports that the Automotive Garage Equipment Market is predicted to expand at a CAGR of 8.94% between 2023 and 2033, totalling around US$ 63.1 billion by 2033.

Key Takeaways from the Market Study

The global automotive garage equipment market expanded at a CAGR of 7.12% between 2017 and 2022.
Demand for automotive garage equipment is projected to increase at a 4.3% CAGR, in comparison with the 3.7% CAGR registered between 2018 and 2022.
The United States is home to a large automotive industry holding a significant part with a value share of 31.2%.
North America’s automotive garage market is expected to account for 36.9% of the total market share.

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China is expected to set to account for 40.3% of the global market share.
Japan holds a market share of 16.9%.
Introduction of new franchisee garages in India is expected to boost the market in the forthcoming years with a CAGR of 7.15%.
Increasing sales of two-wheelers such as mopeds, motorbikes, and scooters in the country are expected to boost the market in Australia at a CAGR of 6%.
Europe’s automotive garage equipment market is forecasted to account for 54.1% of the total market share, notably driven by increasing sales of luxury vehicles.
Two-wheeler mobility solutions in the United Kingdom at a CAGR of 7.92%.
Refurbishment of old garages is likely to drive sales of garage lift systems.
Sales of lifting equipment are expected to remain high over the assessment period with a market share of 44%.
Servicing premium cars are estimated to boost demand for independent garages for car workshops.
Inexpensive labor costs and the growing availability of premium car servicing equipment might drive sales with a market share of 33.2%.
Increasing repair services for passenger vehicles is expected to boost sales of light vehicles.
Sales in the light vehicles segment are projected to increase over the forthcoming years with a market share of 23.1%.

High demand for electric and hybrid passenger vehicles across the globe acts as one of the major drivers of the automotive garage equipment market”, comments a Future Market Insights Analyst.

Key Innovation of the Market Players in the Market

In June 2023, ISTOBAL showcased its new M’WASH3 PRO rollover at Autozum 2023, the leading Austrian trade show for the car wash, service station, and dealership industry, held at Messezentrum Salzburg (Stand 09-0200).

The company is exhibiting for the first time at a show and on the international market. This innovative high-end equipment is aimed at increasing profitability in carwashes and improving the user experience through efficient and connected technology.

Some of the prominent players in the global market are-

MAHA Maschinenbau Haldenwang Gmbh & Co. KG
Snap-on Incorporated
Robert Bosch GmbH
Continental AG
Forward Lift Company (Dover Corporation)
VisiCon Automatisierungstechnik GmbH
Standard Tools and Equipment Co.
Symach Srl
Nussbaum Automotive Solutions
SAMVIT GARAGE EQUIPMENT

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Automotive Garage Equipment Market Segmentation

By Vehicle:

2 Wheelers
Light Vehicles
Heavy Vehicles

By Equipment:

Lifting Equipment
Body Shop Equipment
Wheel & Tire Alignment
Vehicle Diagnostics & Testing
Washing Equipment
Other Tools

By Garage:

OEM
Franchisee Garages
Independent Garages

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
The Middle East & Africa

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)

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Middle East LED & OLED Lighting Market Surges with 17.8% CAGR in Solar Segment – Consumer TV Emerges as Dominant Player by 2025

Because LED lighting solutions are becoming more and more popular across a range of end-use industries, the worldwide market for LED and OLED lighting products and displays has expanded dramatically in recent years. Nowadays, LED lights—also referred to as light-emitting diode products—are regarded as a cutting-edge kind of semiconductor illumination. These devices are widely used in many different fields, such as backlighting, general illumination, and vehicle lighting.

Commercial, residential, and industrial buildings, as well as outdoor spaces, are increasingly using LED lighting. LED technology has become widely used since it provides so many benefits over conventional lighting sources.

Key features such as an extended lifespan, exceptional energy efficiency, environmental friendliness, high durability, minimal heat generation, and compact size have positioned LED lights as the go-to choice for modern lighting needs.

Key Takeaways:

The global LED and OLED Lighting Products and Displays Market is experiencing robust growth, driven by environmental concerns and energy efficiency demands.
LED technology’s superior features, such as longevity and energy efficiency, are accelerating the shift away from traditional lighting solutions.
Asia-Pacific leads in LED production and consumption, while North America and Europe are key markets driven by regulatory measures.
Smart lighting solutions and IoT integration offer promising growth opportunities in the market.
High initial costs and competitive pricing are the primary restraints in the industry.

Drivers and Opportunities:

The LED and OLED Lighting Products and Displays Market is poised for continued growth, with several driving factors fueling its expansion. Firstly, the growing environmental consciousness among consumers and businesses alike has spurred the demand for energy-efficient lighting solutions, aligning perfectly with LED technology’s capabilities.

Furthermore, regulatory initiatives worldwide aimed at phasing out energy-inefficient lighting sources have created a conducive environment for LED adoption. In addition to environmental benefits, cost savings over the long run have also contributed to the widespread adoption of LED lighting in both residential and commercial sectors.

Opportunities in this market are abundant, especially in the realm of smart lighting solutions, where LED technology plays a pivotal role. The integration of LEDs with IoT (Internet of Things) platforms enables remote control, customization, and energy management, further boosting the market’s potential for growth.

Competitive Landscape – Regional Trends:

The competitive landscape of the LED and OLED Lighting Products and Displays Market is dynamic and regionally diverse. Asia-Pacific has emerged as a prominent hub for LED manufacturing, with China and South Korea leading the way. These countries are not only major producers but also consumers of LED products, driven by the region’s rapid industrialization and urbanization.

In North America and Europe, stringent regulations and energy conservation efforts have fueled the adoption of LED lighting solutions. Additionally, the development of OLED displays for various applications, including smartphones and televisions, has expanded the market’s horizons.

Restraints:

Despite the promising growth, the market faces certain restraints. High initial costs, especially for advanced LED solutions and OLED displays, can deter widespread adoption, particularly in emerging economies. Additionally, the market’s competitive nature has led to price wars, impacting the profit margins of manufacturers.

Region-wise Insights – Category-wise Insights:

Regionally, Asia-Pacific dominates the LED and OLED Lighting Products and Displays Market, while North America and Europe also hold significant market shares. In terms of product categories, LED lighting solutions continue to dominate the market, with OLED displays gaining traction in consumer electronics.

Key Segment

LED & OLED Lighting Products:

By Product Type
Solar
Conventional
Linear and Strips
Lamps and Bulbs
By End Use
Residential
Commercial

Key Regions/Countries Covered:

GCC
UAE
KSA
Qatar
Oman
Bahrain
Kuwait
Levant
Turkey
Israel
Egypt
Jordan
Lebanon
Syria
Iraq
Palestine
Cyprus

LED & OLED Display Market:

By Product Type
Mobile display
AMOLED
OLED
LCD
Consumer TV display
LCD
Plasma
LED
OLED
AMOLED
Outdoor LED display
LED Billboards
Perimeter LED Boards
LED Mobile Panels
LED Traffic Lights
LED Video Walls

Author:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.

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. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

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Electronics Accessories Market to Experience Robust Growth at 5.4% CAGR in Value and 6.5% in Volume, Reveals Latest Forecast

The most recent study on the Middle East electronics accessories market, “Electronics Accessories Market: Middle East Industry Analysis and Opportunity Assessment, 2015 –2025,” from Future Market Insights (FMI), provides important information. The Middle East market for electronics accessories is expected to grow at a healthy rate of 5.4% in terms of value over the course of the forecast period. FMI provides important details about these aspects in this study.

In addition, it is anticipated that over the course of the forecast period, the Middle Eastern electronics accessories market will grow at a CAGR of 6.5% in terms of volume. Middle Eastern players are creating niche items like earphones and headphones as well as attractively designed electronics.

Demand for earbuds and headphones that offer superior noise cancellation is expected to significantly rise among the increasing number of audiophiles in the regions in the near future.

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The Middle East electronics accessories market is segmented on the basis of product type, end use, price range, distribution channel and region. On the basis of product type, the market has been segmented into mobile phone accessories, computer accessories and automotive infotainment accessories. In terms of value, the mobile phone accessories segment has been estimated to account for 62.7% share of the Middle East electronics accessories market by 2015 end. Also, the automotive electronics segment in the region is witnessing a significant surge in its growth, and thereby is expected to record sustainable growth in the near future. High volume of car sales is, in turn, expected to further drive sales of automotive infotainment systems over the next five to six years in these regions.

Growth of the Middle East electronics accessories market is mainly driven by proliferation of connected devices, increasing disposable income of consumers in urban areas in GCC and growing Internet penetration, which in turn is leading to the rising preference of consumers towards online retail in these regions. Increasing adoption of mobile devices amongst the youth in the GCC region is providing significant stimulus for growth of the electronic accessories market in the region.

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This report covers trends driving each segment and offers analysis and insights on the potential of electronics accessories in all the countries covered under Middle East. In terms of revenue share contribution, GCC region has been estimated to dominate the electronics accessories market throughout the forecast period. This is primarily attributed to the large number of affluent consumers in the region, coupled with technological advancements, which in turn are leading towards increased demand for connected devices such as tablets and smartphones. In view of the increasing proliferation of these devices in Middle East market, demand for accessories such as headphones, power banks and others is expected to increase significantly over the next five to six years in these regions.

Key players in the Middle East electronics accessories market include Samsung Electronics Co. Ltd., Sony Corporation, Toshiba Corporation, Panasonic Corporation, Clarion Co., Ltd., Pioneer Corporation, LG Electronics Inc., Logitech international S.A., Astrum Holdings Limited and Intex Technologies India Ltd. A large number of players operating in the electronics accessories market are focused on entering into collaborations and partnerships with local distributors and retailers in order to enhance their market presence in the Middle East countries. Moreover, such collaborations and partnerships also enable the companies to increase their product visibility across the regions.

Key Segment

By Product Type

Mobile Phone Accessories
- Battery
- Charger
  - Wired
  - Wireless
Headphone and Earbud
- Wired
- Wireless
Computer Accessories
- Battery
- Power Adapter
- Speakers
- Others (Keyboard, Mouse and Microphone)
Automotive infotainment Accessories
- Dash Stereos
- Amplifiers
- Woofers
- Wires and Cables
- Speakers

By End Use

Residential
Commercial

By Distribution Channel

Multi-brand Store
Single-brand Store

By Price Range

Premium
Medium
Low

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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 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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Email Application Market Surges: Expected to Reach US$ 3.76 Billion by 2033

The primary use of the Email Application Market is email trading, but it also has a calendar, task manager, contact manager, note-taking, diary, and web surfing capabilities. These programs can also be used alone and in conjunction with certain exchange servers to support several users inside an enterprise. Exchange of public files, SharePoint lists, shared emails and calendars, and meeting plans may all be made easier by this.

Currently holding a dominant market position in the global email applications market, the on-premises sub-segment is likely to witness considerable declines in market share during the forecast period due to the increasing popularity of cloud-based email applications.The value of the global email applications market is anticipated to witness a CAGR of 5.2% during the forecast period of 2020-2030.

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Key Takeaways of Email Applications Market Study

Among the deployment segment, the pubic cloud sub-segment is expected to witness a high growth rate during the forecast period, due to the flexibility and convenience offered by cloud applications.
East Asia is expected to create lucrative growth opportunities for players in the email applications market, owing to increasing penetration of email application to manage business connections and profile on social networking websites in the countries of this region.

Increasing Adoption of Email Applications Market amid the COVID-19 Pandemic outbreak

During the COVID-19 crisis, remote working brings productivity challenges and new security risks. Cybercriminals can take advantage of distracted employee email behavior and web browsing behavior. Secure remote workers from the rising volume of COVID-19-themed email threats that impersonate organizations like World health organization (WHO) and centers for disease control and prevention (CDC).

According to a leading IT security company Barracuda Networks, there has been a surge in spear-phishing email attacks since January 2020, where they detected more than 9000 phishing emails linked to COVID-19 financial donation subjects, alone in the month of March 2020.

Who are the major companies leading cognitive systems spending market?

Prominent companies in the Cognitive Systems Spending market includes International Business Machines Corporation, Accenture Plc., HP Inc., Microsoft Corp., Intel Corporation, Attivio, Wipro Limited, Cognitive Scale Inc., IPsoft Inc. and among others.

More Valuable Insights on Email Applications Market

FMI’s report on the email applications market is segmented into two major sections such as deployment type (public cloud, and on premises), and region to help readers understand and lucrative evaluate opportunities in the email applications market.

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Cognitive Systems Spending Market: Segmentation

The global cognitive systems spending market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to readers.

Product Type

Hardware
Software
Services

Deployment Type

Public
On-Premise

Technology Type

Natural Language Processing
Machine Learning
Automated Reasoning

By Verticals

Banking
Education
Government
Healthcare
Insurance
Manufacturing
Securities and Investment Services
Telecommunicati-ons

By Region

North America
Latin America
Europe
East Asia
South Asia & Pacific
MEA

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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 over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Nandini Singh Sawlani

Web Real Time Communication Solution Market Surges with Impressive 44.2% CAGR, Reaching US$ 9,324.4 Million by 2023

It is anticipated that web-based real-time communication solutions market will generate $9,324.4 million in 2023 and $363,320.9 million in 2033. According to Future Market Insights (FMI), the demand for online real-time communication solutions and services from businesses will propel the market’s expansion at a 44.2% compound annual growth rate (CAGR) between 2023 and 2033.

Research that was just made public predicts that in 2021, the online real-time communication solution will grow by 41.6% annually. The industry leader will continue to be WebRTC Solution. On the other side, a 44.2% CAGR is predicted in the rise in demand for online real-time communication services throughout the evaluation period.

Technological improvements have resulted in a shift towards automation and digitalization, which have reduced related human activities and mistakes. Furthermore, the simplicity of operation and user-friendliness highlight the increasing demand for the same.

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Key Takeaways

Germany’s market is expected to be worth roughly US$ 21 billion by 2033.
In 2022, Germany held 8.9% of market revenue.
According to FMI, the market for Web Real Time Communication Solution in China is expected to develop at a CAGR of 47.3% between 2023 and 2033.
The Indian market is expected to rise in sales from roughly US$ 100.3 million in 2022 to US$ 8,466.7 million by 2033.
Furthermore, India is predicted to develop substantially in the next years, with a CAGR of 44.2%.

“The demand for online real time communication solutions is expected to skyrocket as small and large businesses seek cost-effective solutions and services. Furthermore, the market is likely to be driven by significant expansion in the healthcare sector.” says FMI analyst.

Competitive Landscape

KLR WS (Kaleyra Video), an audio-video calling service based on WebRTC technology, was made available in the United States in April 2023. WebRTC was brought into the US market by Kaleyra, a large worldwide CPaaS vendor.
In February 2023, Comviva, a Tech Mahindra subsidiary, announced the release of its Communication Platform as a Service (CPaaS) solution powered by Microsoft Azure.

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Key players

Avaya Inc.
Google Inc.
Cisco Systems, Inc.
IBM Corporation
Huawei Technologies Co., Ltd.
Ericsson
TokBox Inc.
Mitel Networks Corporation

More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the Global Web Real Time Communication Solution market presenting a historical analysis from 2018 to 2022 and forecast statistics for the period of 2023 to 2033.

The study reveals essential insights By Component (WebRTC Solution, Service), Enterprise Size (SMEs, Large Enterprises), Industry (IT & Telecom, BFSI, Media & Entertainment, Healthcare, Government, Manufacturing) & Region.

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Market Segmentation by Category

By Component:

WebRTC Solution
Cloud based
On premise
Service
Consulting Services
Integration & Implementation Services
Design & Development Services
Support & Maintenance

By Enterprise Size:

SMEs
Large Enterprises

By Industry:

IT & Telecom
BFSI
Media & Entertainment
Healthcare
Government
Manufacturing
Others

By Region:

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

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 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

End-of-line Packaging Market to Hit US$ 7.9 Billion by 2032 – Insights by Future Market Insights

The end-of-line packaging market was valued at US$ 5.125 billion in 2022, and it is expected to grow at a CAGR of 4.3% to US$ 7.978 billion by 2032.

The growing adoption of end-of-line packaging to reduce packaging costs and improve packaging systems in various end-use industries is propelling the global end-of-line packaging market future trends.

The rapid adoption of automated end-of-line packaging in the industrial sector, as well as rising demand to automate manufacturing processes, will drive end-of-line packaging market expansion during the forecasted period. The rising packaged beverage consumption will fuel end-of-line packaging market key trends and opportunities.

Enhanced Workplace Environment

A significant factor driving demand for end-of-line packaging is the growing desire to improve workplace conditions through automation. A wide range of end industries are using this type of packaging system to reduce packaging costs and improve the packaging system in their units. It also helps to combat the changing need for customized packaging sizes and different package forms for different items boosting the end-of-line packaging adoption trends.

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Industrial Robot System for E-Commerce and Retail Sector

The fast-growing e-commerce and retail sector are increasing the demand for end-of-line packaging along with better-packaged products in the market. The end-of-line packaging improves the efficiency of packaging and these are important factors that create valuable end-of-line packaging market opportunities for end-of-line packaging market growth.

Robot hands are quickly introduced into the packaging process to improve production efficiency. The robotic system in the package reduces physical tasks. Robot arms enable improved production efficiency, resulting in a high return on investment and low operating costs. Overall, the end-of-line packaging market growth is estimated to bolster during the forecast period.

Nullifies Human Errors

It also eliminates the need for companies to educate packaging personnel every time a new packaging technology is introduced. Furthermore, the end-of-line packaging system robot system eliminates manual tasks like palletizing, packing, and sorting, reduces the risk of product damage, and eliminates human errors, all of which have increased the appreciation of end-of-line packaging in manufacturing sectors.

Growing Acceptance in Pharmaceutical Industry

The pharmaceutical industry’s increasing adoption of advanced end-of-line packaging systems to improve product traceability in the supply chain will drive end-of-line packaging market growth.

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Key Takeaways from End-of-line Packaging Market

The automatic end-of-line packaging segment under technology is estimated to register a CAGR of 5.1% during the forecast period reaching USD 5.3 Billion by 2032 due to the reduced time and cost of labor with its use.
The food and beverage segment is expected to remain the leading end use sector. During the forecast period, the food and beverages segment is expected to grow at a CAGR of 6.0%.
Based on end use industry, the food & beverages segment is projected to hold around a 2/5th portion of the market by the end of 2032.
The food and beverages segment is expected to lead the end use sector of the end-of-line packaging market, reaching USD 3.119 billion by 2032.
The increasing end use industries and rising adoption of end-of-line packaging along with latest technologies in Europe and North America are anticipated to boost the sales of end-of-line packaging in these regions.
The U.S. end-of-line packaging market to have the highest market size of US$ 1308 Million for 2032 with a sluggish CAGR of 3.5%.
China end-of-line packaging market is expected to lead with the highest CAGR of 6.6% during the forecast period, reaching US$ 827 Million by 2032.
India end-of-line packaging market is expected to have the second highest CAGR of 5.2% for 2032, reaching US$ 577 million by 2032.

“Automatic End of line Packaging are Gaining Immense Market Popularity across the Regions, Due to Increased Investments in Research & Development by Machinery Manufacturers Worldwide and Increased Demand for Various Packaging Products.” – says FMI analyst

End-of-line Packaging Market Landscape

ProMach, Inc., DS Smith plc, Synerlink (A barry-Wehmiller Company), Rovema GmbH, Stevanato Group, WestRock Company, and Uhlmann Pac-Systeme are the key players operating in the end-of-line packaging market.

Also, some of the other noticeable end-of-line packaging market players include ENDFLEX, Shemesh Automation Ltd, OPTIMA packaging group GmbH, INFINITY AUTOMATED SOLUTIONS PVT. LTD, nVenia LLC, ADCO Manufacturing, J+P Maschinenbau GmbH, EOL Packaging Experts GmbH, Hualian Machinery Group Co. Ltd., and others. The players in the tier 1 hold approximately 15-20% of the global end-to-line packaging market.

Recent Development:

The end-to-line packaging market witnessed two major acquisitions to strengthen the technologies:

ProMach will acquire Serpa Packaging, a leading provider of cartoning and end-of-line solutions, in 2021. Serpa joins ProMach’s portfolio of automated cartoning systems, significantly expanding ProMach’s specialised secondary packaging machinery and line integration capabilities for the rapidly growing pharmaceutical industry.

Duravant Group will acquire Cloud Packaging Solutions in 2020. Duravant also announced that, as a result of the synergies between Cloud’s product offerings and the portfolio of highly engineered equipment offered by Duravant operating company Mespack, Cloud Packaging Solutions will be renamed Mespack-Cloud, a Duravant Company.

End-of-line Packaging Market by Category

By Technology, End-of-line Packaging Market is segmented as:

Automatic
Semi-automatic

By Function, End-of-line Packaging Market is segmented as:

Stand-alone
Integrated

By End Use Industry, End-of-line Packaging Market is segmented as:

Food & Beverages
Pharmaceutical
Electronics and semiconductor
Automotive
Others (Chemicals, etc.)

By Region, End-of-line Packaging Market is segmented as:

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

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 is 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

Asia-Pacific’s Influence Propels Trolley Bags Market to US$ 31.25 Billion by 2032, with 5.7% CAGR – Future Market Insights

The global trolley bags market stands at US$ 17.9 Billion as of now and is expected to reach US$ 31.25 Billion by the year 2032 at a CAGR of 5.7% between 2022 and 2032.

With global population opting for trolleys for conveniently carrying luggage at the time of travelling, the trolley bags market is expected to go great guns in the near future. Plus, with advent of smart luggage embedded with GPS system tracker, the trolley bags market is likely to grow on an unabated note in the near future.

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Those running out of stamina or having a limited eyesight or even those witnessing dexterity are advised to use trolley bags. Also, those having a sound physique have started showing inclination toward trolley bags, so as to avoid any health-related complications further.

Business travels have increased in the post-Covid-era. This has led to an upswing in the demand for backpacks, duffle bags, and likewise. Besides, the end-consumers are more into exploring educational opportunities around the world. This calls for an ever-increasing demand for hard-side trolley bags, polycarbonate luggage bags, and likewise. Quest for adventure is another factor expected to take the trolley bags market by storm in the forecast period. The buying power of end-consumers has also witnessed a spike, especially in the emerging economies. This calls for an increasing demand for trolley bags, travel pouches, backpacks, duffle bags, and likewise. Rapid urbanization is also driving the trolley bags market.

At the same time, the market could get hampered based on factors like an upsurge in the number of various unorganized market participants. As they do away with advertising and branding, raw materials of superior quality, they can afford to bring cheaper products on the floor.

On the other hand, branded trolley bags are subject to higher cost of production. Higher labor charges are there to add. These factors could actually slow down the growth of trolley bags market going forward.

Key Takeaways from Trolley Bags Market

North America holds the largest market share due to the US citizens being more specific about cosy travel.
Europe holds a significant market share (more than 30%) and the status quo is expected to remain the same even going forward due to Europeans being travel-oriented.
The Asia-Pacific is expected to grow at the fastest pace in the trolley bags market due to the emerging economies like India showing more interest in international study as well as travel.
LATAM and MEA are expected to figure amongst the most-sought-after travel destinations in future, which would revolutionize the trolley bags market in these regions as well.

“With the Asia-Pacific being on a travel spree, the trolley bags market is expected to be impertinent in the upcoming period”, says an analyst from Future Market Insights.

Competitive Tag

Horizn Studios has launched its new-fangled series of luxury luggage with the objective of creating more sustainable and eco-friendly products. This “Circle One” comes across as a 100% biodegradable and plant-based product, which helps in keeping single-use plastics at bay.
Go Travel has entered into partnership with Case, so as to have the accessories exhibited at Case Store at Heathrow airport. These players have inked a 3-year agreement in this regard. It’s known to have its accessories like travel adapters, pillows, and travel comfort collection.
Delsey stands behind Samsonite as far as travel accessories and luggage are concerned.
VIP Industries are known for rendering quick-paced growth in trolley bags market.
Samsonite is into development of innovative solutions with various sustainable manufacturing and material processes.
Victorinox provides Swiss Army Knives, Travel Gear and Fragrances, Watches, and professional & household knives.

What does the Report Cover?

Future Market Insights offers an exclusive perspective and various real-time insights on the trolley bags market in its latest study, presenting historical demand assessment of 2016 – 2021 and projections for 2022 – 2032.

Key Segments in the Trolley Bags Market

By Material Type:

Hard-Side
Soft-Side

By Price Range:

Premium
Medium Range
Low Range

By Distribution Channel:

Supermarkets/Hypermarkets
Specialty Stores
Factory Outlets
Online Stores
Others

By Region:

North America
Latin America
Asia Pacific
MEA
Europe

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 is 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

Paper Bottles Market Trends: Projections Show Exceeding US$ 108.2 Million by 2032 – Future Market Insights Report

The global paper bottles market is anticipated to create an absolute dollar opportunity by exhibiting a CAGR of 5.4% and reach an estimated value of US$ 64.2 Mn by 2022 and it is expected to surpass a valuation of US$ 108.2 Mn by 2032. The top three countries namely the U.S., India, and the European region are expected to generate maximum revenue from paper bottles by accounting for around 38% of the market in 2022.

According to the latest FMI study, it has been estimated that paper bottle sales are projected to excel during 2022-2032 and they are predicted to create an opulent growth opportunity of US$ 44 Mn. There is a reasonable surge in the paper bottle market due to its extensive usage among various end-use industries. The paper bottles market share is projected to grow 1.7 times the current market value during the forecast period.

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Over the historical period of 2015 to 2021, the paper bottles market has shown meticulous growth ever since and improved its CAGR value from 3.7% to 5.4% over the current estimation period from 2022 to 2032. As per the estimations, it is expected that the demand for paper bottles will take over the premium bottles and plastic bottles over a period of time due to their eco-friendly nature and biodegradability.

Key Takeaways

The increasing need for optimum storage of beverages and the surging demand for water in the beverage industry are rising the need for paper bottles, hence, expanding it to several sectors.

The market is estimated to propel with a positive growth outlook as the bottle manufacturing process inculcates the usage of paperboard and recyclable wood chips. Therefore, making the industry more sustainable.

A gradual surge in the demand for paper bottles can be witnessed across the globe due to their efficient product storage and distribution while still maintaining demand for beverages and personal care goods.

The paper bottle market is gaining traction and prominence during the assessment years attributed to its contribution to a green environment. Owing to these factors, the paper bottle market share is expected to grow at a steady pace during the forecast period.

The sales of paper bottles are expected to surge at a remarkable pace due to their usage in the packaging industry. The packaging of semi-solid dosage forms and liquid dosage forms are packaged in these paper bottles to make them intact.

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Competitive Landscape

Leading paper bottle manufacturers are gradually moving towards developing effective holistic business frameworks that progressively include environmental, social, and governance business factors which help to drive the incremental growth curve of their packaging businesses.

Stringent government regulations are taken to reduce plastic consumption and surging requirements for biodegradable plastic bottle manufacturers are creating lucrative growth opportunities for manufacturers in the paper bottle market.

Key manufacturers in the market are increasing their production since paper bottles leave smaller carbon footprints. In addition to that, the demand for paper bottles is expected to surge because they are made of plant-based fiber which makes the material extremely durable and reusable. The prominent factor boosting the paper bottle market size is that it is made up of multiple layers of paperboard or cardboard, which gives it increased robustness by protecting it from damage while being transported.

Paper Bottles Market by Category

By Capacity, Paper Bottles Market is segmented as:

15 ml to 100 ml (Small)
101 ml to 500 ml (Medium)
Above 500 ml (Large)

By Primary Usage, Paper Bottles Market is segmented as:

Everyday
Sports
Others (Travel, etc.)

By End Use Industries, Paper Bottles Market is segmented as:

Water
Beverage
- Alcoholic
- Non-alcoholic
Personal Care &Cosmetics
Others (Homecare & Toiletries, etc.)

By Region, Paper Bottles Market is segmented as:

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

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 is 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

Presswood Pallets Market Set to Hit US$ 5.78 Billion Valuation, Blending Efficiency and Eco-Consciousness – Insights by Future Market Insights

As per the analysis conducted by Future Market Insight, the global Presswood pallets market is anticipated to achieve a valuation of US$ 5.78 billion by 2033, exhibiting a CAGR of 5.9%. This projected value showcases a substantial augmentation compared to its estimated market worth of US$ 3.26 billion in 2023.

The rise in sustainability awareness and growing environmental concerns are pivotal drivers for the presswood pallets market. Presswood pallets, also known as compressed wood or molded fiber pallets, are eco-friendly alternatives to traditional wooden pallets. Businesses are actively seeking pallets made from recycled materials or renewable resources due to an increasing emphasis on sustainable practices. Presswood pallets, manufactured from recycled wood fibers, are gaining traction as they assist companies in reducing their carbon footprint.

Industries with strict hygiene and safety standards, like the food and pharmaceutical sectors, are increasingly adopting presswood pallets. Presswood pallets offer a sterile platform for storing and transporting products. Unlike traditional wooden pallets, Presswood pallets are free from pests, bacteria, and contaminants. The smooth surfaces of presswood pallets reduce the risk of product damage during handling. This also promotes safety and minimizes the chances of accidents or contamination.

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Many industries are actively seeking alternatives to plastic pallets due to environmental concerns. Presswood pallets provide a viable solution as they are made from natural materials and can be recycled or repurposed at the end of their lifecycle. This trend is likely to present an opportunity for the presswood pallets market to capture market share from the plastic pallet industry.

The compatibility of Presswood pallets with automated material handling systems drives their popularity. The growing adoption of automation and warehouse robotics has increased the demand for pallets that seamlessly integrate with these systems. Presswood pallets, with their standardized dimensions and durability, are a suitable choice for automated processes. This compatibility enhances operational efficiency and leads to cost savings for businesses embracing automation technologies.

Businesses across various industries are experiencing a growing need for customized and high-quality pallets that cater to their specific requirements. This trend has opened up new avenues for enterprises capable of providing tailor-made presswood pallets. Moreover, the surge in the popularity of reusable pallets has further intensified the opportunities for enterprises offering reusable presswood pallets.

Presswood pallet manufacturers are actively exploring strategies to improve the quality and functionality of their products while also providing customized options to meet the unique requirements of their customers. By incorporating innovative features such as RFID (Radio Frequency Identification) tracking, anti-slip surfaces, and ergonomic designs, these manufacturers aim to differentiate their Presswood pallets in the market and unlock new avenues for growth.

Key Takeaways from this Market:

The presswood pallets industry in the United Kingdom is anticipated to rise sizably, exhibiting a CAGR of 3.0% through 2033.
The United States held an 18.9% share of the global Presswood pallets industry in 2022.
With a CAGR of 6.0% over the forecast period, India is predicted to develop rapidly in the presswood pallets industry.
In 2022, Japan had a 6.1% share of the presswood pallets industry globally.
The presswood pallets industry in China is expected to speedily flourish, registering a CAGR of 6.3% over the forecast period.
Germany accounted for 6.9% of the global Presswood pallets industry in 2022.

Competitive Landscape:

Key players are focusing on various strategies to maintain a competitive edge and expand their market presence. This includes product innovation and development to offer pallets with enhanced durability, load-bearing capacity, and sustainability features. They are also investing in research and development to explore new materials and technologies for pallet manufacturing. Additionally, key players are expanding their distribution networks, forming strategic partnerships, and engaging in mergers and acquisitions to strengthen their market position and cater to the growing demand for Presswood Pallets.

Recent Developments by Key Players:

Litco unveiled a fresh website designed to streamline the process of purchasing export pallets, core plugs, inflatable dunnage, void fill, anti-friction mats, and desiccants through online channels.
Inka introduced a brand-new Presswood® Pallet, known as the F8LF4. It boasts a mere weight of 9kg while being engineered to support loads of up to 600kg.

Major Players are:

Millwood, Inc.
Litco International, Inc.,
Inka Paletten GmbH,
Acorn Packaging Services Ltd.
Associated Pallets Ltd.
SDI Packaging
The Nelson Company
Schoeller allibert services
Loscam Australia Pvt Ltd.
Craemer GmbH, Krones Group
Linyi Kunpeng Wood Co
JP Pallets
Taik Sin Timber Industry Sdn Bhd
Plastochem India Pvt. Ltd.
Hangzhou Penno Packtech Co., Ltd.
Enviva
Universal Forest Products
Palcon LLC
Rowlinsons Packaging Ltd
Bay Wood Products, Inc.

Market Outlook by Categorization:

By Product Type:

Nestable Pallet/Stackable Pallet
Rackable Pallet

By Size:

Full-size
Half-size
Quarter-size

By End Use:

Manufacturing & Warehousing
- Food & Beverages
- Chemicals
- Automotive
- Pharmaceuticals
- Others
Logistics & Transportation
Building & Construction
Others

By Region:

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

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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 is 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