Global Central Lab Industry Predicts Phenomenal 5.8% Expansion, Envisioning US$ 4.5 Billion Benchmark by 2033 | FMI

In the year 2022, the net Global Central Lab Industry showcased a robust size of approximately US$ 2,422.7 million. Anticipating an impressive trajectory, the central lab industry is projected to grow at a substantial CAGR of 5.8% from 2023 to 2033. This promising growth indicates a potential market value surge to US$ 4,473.5 million by 2033, significantly surpassing the US$ 2,543.9 million mark in 2023.

The significance of central labs in expediting pharmaceutical advancements cannot be overstated. By eliminating unnecessary stages, these labs enable pharmaceutical corporations to introduce novel substances to the market more swiftly. Moreover, central labs play a pivotal role in genetic testing services for a myriad of disorders, including but not limited to sickle cell anemia, Alzheimer’s, and Parkinson’s. The comprehensive services provided in central labs further aid in conducting clinical trials for new medications, contributing to the overall advancement of healthcare.

The evolution of the central lab industry is expected to receive a substantial boost over the projected period due to the increasing number of clinical trials. The prevalence of genetic illnesses has set a significant trend, leading to a surge in demand for private layers involved in the central lab sector.

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In recent years, pharmaceutical and biopharmaceutical firms have entirely outsourced their research and development activities to central labs operated by private players. Besides lowering expenses for pharmaceutical and biotechnology businesses, central labs guarantee that findings are supplied more quickly and accurately.

Key Takeaways from the Global Central Lab Industry Study Report by FMI

  • The United States is the leading region, with almost 51% share of the total demand for central lab services generated worldwide in 2022.
  • Germany is the leading country in Europe that garnered almost 25% share of the total demand for central lab services in Europe in 2022.
  • The demand for central labs in the United Kingdom is poised to register a higher CAGR of 5.1% in Europe from 2023 to 2033.
  • China is the leading market in Asia, with a projected CAGR of 7.6% for its clinical central laboratory market from 2023 to 2033.
  • India is likely to follow China in demand for clinical trials with an annual growth rate of 6% during the forecast years.

“Central labs are increasingly adopting cutting-edge technical solutions, which is helping the overall market to expand and is projected to continue. Correspondingly, the majority of central laboratories have fully automated their procedures, allowing them to save money and time,” opines Sabyasachi Ghosh, Associate Vice President at Future Market Insights (FMI).

Competitive Landscape for the Global Central Lab Industry Players

The overall market is fairly consolidated, as only some players successfully create a value chain by creating central labs at different locations. However, escalating government support in emerging economies following the pandemic is expected to encourage many new players to enter the market, intensifying competition.

Global Central Lab Industry  Key Companies Profiled

  • Covance (Labcorp)
  • Eurofins Global Central Library
  • PPD Central Lab
  • ICON Central Labs
  • Medpace Reference Laboratory
  • Q² Solutions
  • ACM Global Laboratories
  • Labconnect Inc.
  • Cerba Research
  • Medicover Integrated Clinical Services
  • Versiti Inc.
  • A.P. Møller Holding A/S
  • Ampersand Capital Partners
  • Lambda Therapeutics Research Ltd
  • Cirion Biopharma Research Inc.

Recent Developments by the Global Central Lab Service Providers

  • LabConnect Incorporate announced the expansion of its facilities in Johnson City in September 2020 to increase the production of clinical trial kits. This expansion has been planned to support the company’s rapid growth in the fields of immuno-oncology research and cell and gene therapy. The corporation is also expanding the storage capacity of its biorepository for specimens by moving its headquarters to Tennessee.
  • Labcorp or Covance Inc., a preeminent global life sciences company, declared that it was expanding its CB trial laboratory in June 2022. Its central laboratory is shared by a top Japanese provider of clinical laboratory testing services named BML. The company decided to expand existing laboratory capabilities in Japan to strengthen its central laboratory presence and drug development.

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Key Segments Profiled in the Global Central Lab Industry Survey

By Service Type:

  • Genetic Services
  • Biomarker Services
  • Microbiology Services
  • Special Chemistry Services
  • Other Service Types

By End User:

  • Pharmaceutical Companies
  • Biotechnology Companies
  • Academic and Research Institutes

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific Excluding Japan
  • Japan
  • The Middle East & Africa (MEA)

Author by:

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

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 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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Stretchable Electronics Market Forecasted to Surpass US$ 50 Billion by 2033, Growing at a CAGR of 6.2% | Future Market Insights, Inc.

The stretchable electronics market is anticipated to expand its roots at a steady CAGR of 6.2% between 2023 and 2033. The market is expected to have a market share of US$ 53 billion by 2033 while it is likely to be valued at US$ 29 billion in 2023.

  • Advanced flexible technology, healthcare tracker, and fitness monitoring watches, along with skin-based badges for insulation tracking are gaining traction in the market.
  • The technology integrating with connected devices through IoT transforms the market. The integration of artificial intelligence, machine learning, and advanced computing is garnering market growth.
  • The 5G deployment and smartphone penetration are helping the market spread its boundaries while affordable prices, flexible technology, and high connectivity shaped the market’s growth trajectory.
  • The higher application of stretchable electronics in the automotive, defense, and energy sectors is anticipated to have an impact on these sectors in the future. Robotic technology in the defense sector is further expected to propel the market growth
  • The transforming consumer electronic industry with new development each day is anticipated to add new programs to the market’s expansion. The research and advertising-based projects are expected to be successful.

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Key Pointers:

  • The United States market leads the stretchable electronics market in terms of market share in North America. The United States region is thriving at a CAGR of 5.0%. The growth in this region is caused by the technologically-enabled automotive sector and expanding healthcare research. Moreover, the transforming aerospace and defense research is projected to garner regional growth as well. The region is expected to reach a value of US$ 8.3 billion by 2033.
  • The United Kingdom market is another important market. The market thrives at a CAGR of 4.6% between 2023 and 2033. The growth is attributed to increased healthcare research, a growing population of millennial consumers, and fashion trends. The regional market is projected to reach a value of US$ 1.5 billion by 2033.
  • China’s stretchable electronics market booms at a strong CAGR of 7.6% from 2023 to 2033. The leading market dynamics are flourished of the expanding manufacturing facilities, technologically-driven population, and affordable pricing in China. Further, the market is likely to cross a value of US$ 13.4 billion by 2033.
  • Based on component type, the flexible screen segment leads the market as it thrives at a CAGR of 6.1% between 2023 and 2033.
  • Based on application type, the consumer electronics segment leads the market as the market thrives at a CAGR of 6.0% during the forecast period. Previously, the segment thrived at a CAGR of 6.7% from 2018 to 2022.

Competitive Landscape:

The key vendors focus on building highly flexible, affordable, and easy-to-integrate technology. Key competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.

Recent Market Developments:

  • StretchSkin Technologies have started developing soft sensors that are polymer-based and are easily integrated into functional chip components. The technology also utilizes high-performance, nano-material, nano-wires, etc.
  • Flexosense has launched its flexible Electronic substrates that further offer the sensor to healthcare devices, robotics, and consumer electronics manufacturers.

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Key Players Profiled in this Market:

  • Forciot Ltd
  • RISE Acreo
  • Sri International
  • Avery Dennison Corporation
  • Cambrios
  • Canatu Oy

Market Segmentation:

By Component Type:

  • Flexible Display
    • OLED
    • E-paper
    • LCD
  • Flexible Battery
  • Flexible Sensor
    • Bio Sensors
    • CMOS Hybrid Sensors
    • Photo Detectors
    • Piezo Resistive
    • Others
  • Flexible Memory
  • Flexible Photovoltaics

By Application:

  • Consumer Electronics
  • Automotives
  • Medical & Healthcare
  • Energy and Power
  • Aerospace and Defense
  • Others

Key Regions Covered:

  • North America
  • Latin America
  • Europe
  • Japan
  • Asia Pacific Excluding Japan
  • The Middle East and Africa

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.

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Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
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Global Veterinary Electrosurgery Industry on Track to Exceed US$ 995.2 Million by 2033, Empowered by a Striking 6.7% Annual Growth Rate

In the ever-evolving landscape of veterinary healthcare, the Global Veterinary Electrosurgery Industry has emerged as a transformative force, currently holding a substantial valuation of US$ 520.32 million as of 2023. Forecasts for the next decade predict a robust and sustained growth trajectory, with an anticipated average Compound Annual Growth Rate (CAGR) of 6.7% from 2023 to 2033.

This auspicious trajectory positions the Global Veterinary Electrosurgery Industry to reach an extraordinary milestone, surpassing the US$ 995.2 million mark by 2033. Such substantial growth underscores the industry’s pivotal role in advancing and revolutionizing animal healthcare, particularly in response to the escalating demand for advanced and precise surgical solutions in veterinary care.

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Furthermore, development in veterinary surgery has always followed in the footsteps of human surgery. Innovative techniques of surgeries to make them less painful is driving the growth of the market. In addition, the proliferation of government administrations associated with animal healthcare and even distinct animal healthcare organizations will surge the demand for treatments across developing nations. These organizations focus on animals in sanctuaries and zoos. This, in turn, will boost the market growth.

On the contrary, the time taken for approvals for medication and instruments required for surgeries is derailing the progress of the market. In addition, the constant emergence of newer ailments amongst animals is a continuous challenge faced by the Global Veterinary Electrosurgery Industry.

Key Takeaways from the Global Veterinary Electrosurgery Industry Study

  • Veterinary electrosurgery is expected to garner a market value of USD 993.41 Million by registering a CAGR of 7% in the forecast period 2022-2032.
  • By product, consumables and accessories segment is expected to register a CAGR of more than 15% for the veterinary electrosurgery market during the forecast period.
  • By animal, small animals are expected to possess a 65% market share for the veterinary electrosurgery market during the forecast period.
  • By end use, veterinary hospitals and clinics segment is expected to hold a market share of more than 80% in the forecast period 2022-2032.
  • By application, general surgery is expected to possess a market share of nearly 30% market share in 2022-2032.
  • U.S is projected to register a CAGR of 8% during the forecast period.
  • U.K. is anticipated to grow at 9% CAGR for veterinary electrosurgery.

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Global Veterinary Electrosurgery Industry Competitive Landscape

Key players in the global veterinary electrosurgery include Symmetry Surgical Inc, CVS Group, KARL STORZ, Avante Animal Health, B. Braun Melsungen AG, Medtronic, Summit Hill Laboratories, Kwanza Veterinary, Burtons Medical Equipment Ltd, EICKEMEYER and Macan Manufacturing. Some of the recent developments in the global market are:

  • In June 2021, CVS Group announced the planning of a new state-of-the-art specialist veterinary hospital in Bristol. The hospital will open in 2022 with modern technology and treatments in all disciplines, including orthopedics, general surgery, internal medicine, neurology, and neurosurgery, among others.
  • Medtronic, a key player in the market is focusing on developing instruments that will be technologically advanced to fasten the process of general surgeries for animals.

More Valuable Insights Available

FMI, in its new offering, presents an unbiased analysis of the global market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

The study reveals essential insights by product (Bipolar Electrosurgery Instruments, Monopolar Electrosurgery Instruments, Consumables and accessories), Animal Type (Small Animal, Large Animal), Application (General Surgery, Dental Surgery, Gynecological and urological Surgery, Orthopedic Surgery, Others), End Use (Veterinary Hospitals and Clinics, Others) & Region Forecast till 2032

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Global Veterinary Electrosurgery Industry Key Segments Covered 

Global Veterinary Electrosurgery Industry by Product:

  • Bipolar Veterinary Electrosurgery Instruments
  • Monopolar Veterinary Electrosurgery Instruments
  • Veterinary Electrosurgery Consumables & Accessories

Global Veterinary Electrosurgery Industry by Animal Type:

  • Veterinary Electrosurgery for Small Animals
  • Veterinary Electrosurgery for Large Animals

Global Veterinary Electrosurgery Industry by Application:

  • General Veterinary Electrosurgery
  • Dental Veterinary Electrosurgery
  • Gynecological & Urological Veterinary Electrosurgery
  • Orthopedic Veterinary Electrosurgery
  • Other Veterinary Electrosurgery Applications

Global Veterinary Electrosurgery Industry by End Use:

  • Veterinary Electrosurgery across Veterinary Hospitals And Clinics
  • Veterinary Electrosurgery across Other End Users

Global Veterinary Electrosurgery Industry by Region:

  • North America Veterinary Electrosurgery Market
  • Latin America Veterinary Electrosurgery Market
  • Europe Veterinary Electrosurgery Market
  • Asia Pacific Veterinary Electrosurgery Market

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

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 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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Global Oxygen Therapy Equipment Industry Poised for 7.4% CAGR Growth, Anticipated to Reach US$ 6.4 Billion by 2032 | FMI

The Global Oxygen Therapy Equipment Industry is on the brink of an extraordinary growth trajectory, with projections indicating a robust Compound Annual Growth Rate (CAGR) of 7.4% from 2022 to 2032. According to the latest industry insights by FMI Insights, the market, valued at US$ 3.1 billion in 2022, is expected to soar to an impressive US$ 6.4 billion by 2032.

The driving force behind this exponential growth is the escalating demand for on-demand and continuous Portable Oxygen Concentrators (POC) across various applications, notably in emergency medicine. As healthcare trends evolve, the Global Oxygen Therapy Equipment Industry is strategically positioned to meet the rising needs of a global population affected by chronic respiratory diseases.

The rising popularity and adoption of on-demand and continuous Portable Oxygen Concentrators (POC) in diverse applications, especially in emergency medicine, are expected to fuel the demand in the forthcoming years. This surge can be attributed to global competitors entering the market, increasing consumer demand for portable technology, and the clinical urgency for greater mobility support for the geriatric population. The industry anticipates a significant boost due to continuous innovation, resulting in more efficient units and reduced prices.

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Increasing incidences of chronic respiratory diseases coupled with rising demand for home healthcare are the major drivers of the market. This can be ascribed to the increasing geriatric population suffering from various kinds of chronic diseases in which oxygen therapy or oxygen support is required. Additionally, increasing levels of air pollution, and smoking habits of the population especially youth, among others have significantly contributed to an increase in the prevalence of respiratory diseases, thereby increasing the demand for oxygen therapy equipment.

As per the National Institutes of Health (NIH), nearly 12 million adults have been diagnosed with Chronic Obstructive Pulmonary Disease (COPD) in the U.S. and 120,000 people die each year. According to the data published by the Global Asthma Network (GAN), asthma affects nearly 334 million people worldwide.

North America dominates the oxygen therapy equipment market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the growing awareness about the benefits associated with oxygen therapy in hospitals and an increasing number of end-users in this region.

Key Takeaways from the Global Oxygen Therapy Equipment Industry Study

  • The global Oxygen Therapy Equipment Industry was valued at US$ 3.1 Million by the 2022-end
  • The US to account for the highest value share of US$ 2.4 Billion of global market demand for Oxygen Therapy Equipment Market in 2032
  • From 2015 to 2021, Oxygen Therapy Equipment demand expanded at a CAGR of 9.7%
  • By Product, the Oxygen Source Equipment category constitutes the bulk of Oxygen Therapy Equipment Market with a CAGR of 8.2%.
  • By Portability, the Stationary Devices segment dominates the Oxygen Therapy Equipment Market with a CAGR of 7.8%.

“The rising popularity and adoption of on-demand and continuous Portable Oxygen Concentrators (POC) in a wide range of applications such as emergency medicine is also expected to fuel the demand over the forecast period,” remarks an FMI analyst.

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Global Oxygen Therapy Equipment Industry Competitive Landscape

Players in the Global Oxygen Therapy Equipment Industry focus on expanding their global reach through various strategies, such as; partnerships, collaborations, and partnerships. The players are also making a significant investment in R&D to add innovations to their products which would help them in strengthening their position in the global market. Some of the recent developments among the key players are:

  • In July 2021, Belluscura (BELL) had signed a third distribution deal and first agreement with a durable medical equipment provider, for its X-PLO2R™ portable oxygen concentrator portfolio. The durable medical equipment (“DME”) has multiple stores in several states and an online store. Meanwhile, the third distributor has issued its first purchase order with anticipated delivery of the X-PLO2R™ portable oxygen concentrator expected in less than ninety days.
  • In June 2020, Armstrong Medical introduced the second generation FD140i, an improved dual therapy flow driver with an easier transition from CPAP to HFOT.
  • In August 2019, OxyGo LLC announced the launch of their new six flow setting, Bluetooth enabled POC. At only 4.7 pounds, and with 6 flow settings, the OxyGo NEXT offers the highest oxygen output per pound of weight of any portable oxygen concentrators currently on the market. Created to meet the needs of oxygen therapy patients and home medical equipment providers – for use at home, away, and for travel. OxyGo NEXT will allow healthcare providers to improve patient outcomes through a new wireless connectivity platform using Bluetooth technology.
  • In October 2018, Resmed launched CPAP mask-Airlift f30i for Hospitals and Respiratory Care Physicians in the US.

Global Oxygen Therapy Equipment Industry Key Companies Profiled:

  • Philips Healthcare
  • Linde Healthcare
  • Chart Industries, Inc.
  • Invacare Corporation
  • Becton, Dickinson and Company
  • Smiths Medical
  • Drägerwerk AG & Co. KGaA
  • Teleflex Incorporated
  • Fisher & Paykel Healthcare Corporation Limited
  • Taiyo Nippon Sanso Corporation, Inogen, Inc.
  • Heinen + Löwenstein GmbH & Co. KG
  • Others

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Key Segments Covered in the Global Oxygen Therapy Equipment Industry Report

Global Oxygen Therapy Equipment Industry by Product:

  • Oxygen Source Equipment
  • Oxygen Therapy Equipment for Cardiovascular & Thoracic Surgeries
    • Oxygen Concentrators
    • Liquid Oxygen
    • Oxygen Cylinders
  • Oxygen Delivery Devices
    • Oxygen Masks
    • Nasal Cannulas
    • Venturi Masks
    • Non-Rebreather Masks
    • Bag-Valve Masks
    • Other Oxygen Delivery Devices

Global Oxygen Therapy Equipment Industry by Portability:

  • Stationary Oxygen Therapy Equipment Devices
  • Portable Oxygen Therapy Equipment Devices

Global Oxygen Therapy Equipment Industry by Application:

  • Oxygen Therapy Equipment for COPD
  • Oxygen Therapy Equipment for Asthma
  • Oxygen Therapy Equipment for Cystic Fibrosis
  • Oxygen Therapy Equipment for Respiratory Distress Syndrome
  • Oxygen Therapy Equipment for Pneumonia
  • Oxygen Therapy Equipment for Other Diseases

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

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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Global High Flow Ventilators Industry to Exceed US$ 67.6 Billion by 2032 with a Noteworthy 10% CAGR | According to FMI

The Global High-Flow Ventilators Industry is set to achieve a remarkable milestone, with anticipated revenue reaching US$ 67.6 billion by the year 2032. This forecasted growth reflects a robust Compound Annual Growth Rate (CAGR) of 10% from 2022 to 2032, according to a comprehensive report by Future Market Insights.

The high-flow ventilators market has been on an upward trajectory, with a projected market value of US$ 27 billion in 2022, surpassing the US$ 25 billion mark recorded in 2021. This growth is attributed to the increasing prevalence of Chronic Obstructive Pulmonary Disease (COPD) and the widespread adoption of High-Flow Ventilators by hospitals and ambulatory surgery centers.

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Ventilators are critical life-support devices that provide patients with respiratory therapy. High-flow ventilators are a form of respiratory support device that uses a nasal cannula to provide a high-flow oxygen blend, making them ideal for severe respiratory disorders. High-flow ventilators are also commonly used to treat hypoxemic respiratory failure. During the projection period, the high prevalence of COPD cases is expected to drive the market’s rapid rise.

The increased frequency of respiratory illnesses, particularly COPD cases, and the growing worldwide elderly population will have a substantial impact on the Global High Flow Ventilators Industry between 2022 and 2032. In response to the increasing number of surgeries, demand for inexpensive and high-end critical care technology is likely to fuel market expansion. The importance of hospitals and medical emergency services adds to the demand for High-Flow Ventilators.

The market for High-Flow Ventilators is driven by a variety of end-use segments, including hospitals, ambulatory surgical centers, specialized clinics, long-term care facilities, and others. Hospitals are likely to be the most important contributors to the growth of the Global High Flow Ventilators Industry during the forecast period.

“High prevalence of COPD cases, as well as other respiratory conditions, will likely propel the global growth of the Global High Flow Ventilators Industry over the forecast period,” says an FMI analyst.  

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Key Takeaways:

  • Budget constraints and stringent regulations may hinder the market growth of high-flow ventilators.
  • The market for high-flow ventilators will benefit from increased demand for inexpensive and innovative technologies in critical care.
  • North America held the biggest market share in 2018 and is expected to maintain this trend over the forecast period.
  • Due to an increase in respiratory diseases and expanding medical tourism, Asia Pacific is expected to emerge as a profitable market for high-flow ventilators.

Competitive Landscape 

ResMed, Hamilton Medical, HERSILL, S.L., Tecno-Gaz S.p.A., and Essex Industries, Inc., among others, are some of the major players in the Global High Flow Ventilators Industry profiled in the full version of the report.

Leading market players are focusing on dynamic business strategies to strengthen their market position. These businesses are adopting both organic and inorganic tactics like collaborations and partnerships to expand their product portfolio. Market players are keen on integrating advanced technologies into their products to ensure rapid growth.

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Global High Flow Ventilators Industry: Segmentation

The Global High Flow Ventilators Industry is segmented by modality type, end user, and region:

Based on Modality Type, the Global High Flow Ventilators Industry is segmented into:

  • Portable High Flow Ventilators
  • Trolley Mounted High Flow Ventilators

Based on End Users, the Global High Flow Ventilators Industry is segmented into:

  • Hospitals
  • Ambulatory Surgical Centers
  • Specialty Clinics
  • Long-Term Care Centers
  • Others

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

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
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Integrated Quantum Optical Circuits Market Thrives, Projected to Reach US$ 3.75 Billion by 2032

The market for integrated quantum photonic circuits is predicted to grow from US$ 1.87 billion in 2021 to US$ 1.99 billion in 2022, a 6.5% annual growth rate. Because more money is being invested in developing a 5G network, the market is expected to rise strongly. The market for integrated quantum optical circuits may face significant obstacles because of the complex circuit design needed for production. According to Future Industry Insights, the industry is expected to reach $3.75 billion USD by 2032.

The telecom sector has a strong need for integrated quantum optical circuits because of the large sums of money being invested in the development of 5G networks around the globe. The downsizing and optical scaling of optical quantum circuits are made possible by integrated quantum optical circuits.

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Integrated Quantum Optical Circuits Market: Drivers and Challenges 

The market for integrated quantum optical circuits is being driven by a number of causes, but one of the main ones is the increase in demand for better and faster internet access. The market for integrated quantum optical circuits is expanding at a good clip since it is one of the components that contributes to the goal’s resolution.

The fact that some regions are making the switch from conventional to new optical fibre technologies is another factor contributing to the growth of the market for integrated quantum optical circuits. Since the market for integrated quantum optical circuits will grow rapidly in some places and perform well on the global market as well, this shift serves as a market driver for such products.

The integrated quantum optical circuits market has been hampered in certain ways by the design complexity of these circuits.

As a result of the integrated quantum optical circuits’ rather difficult manufacturing processes, fewer manufacturers are drawn to the market for these products, which in turn reduces opportunities in some areas and slows the market’s expansion.

The high initial cost to adopt the particular circuits in the regions has been another barrier for the market for integrated quantum optical circuits. The adoption of integrated quantum optical circuits would be challenging in places like MEA, whereas regions like North America could easily afford to have them given their expenditure levels.

Integrated Quantum Optical Circuits Market: Key Players 

Some of the key players of Integrated Quantum Optical Circuits market are: TE Connectivity, Intel Corporation, Emcore Corporation, Aifotec AG, Ciena Corporation, Finisar Corporation, Infinera Corporation, Oclaro Inc., Luxtera, Inc., and Neophotonics Corporation among others.

Integrated Quantum Optical Circuits Market: Regional Overview

Geographically speaking, the market for integrated quantum optical circuits may be divided into North America, Latin America, Western Europe, Eastern Europe, China, SEA and other APAC, Japan, Middle East & Africa, etc. In comparison to other regions, the integrated quantum optical circuits market in North America is thought to be the most valuable, with the U.S. integrated quantum optical circuits market being the most alluring.

Additionally, due to the presence of tier-1 manufacturers in the region and the rise in the number of communication industries using integrated quantum optical circuits, Western Europe and SEA & other regions of APAC are anticipated to have the fastest growth rates for the integrated quantum optical circuits market.

China, SEA, and other APAC countries are anticipated to overtake the Western European and North American integrated quantum photonic circuits markets. Additionally, the market for integrated quantum optical circuits is anticipated to grow in the area over the course of the forecast period because the majority of integrated quantum optical circuit manufacturers are based in North America and Western Europe.

The increased need for tiny optical communication devices, which would also enhance the market for integrated quantum optical circuits, is another factor contributing to the ongoing traction in the areas. It is anticipated that North America and Western Europe would account for more than 35% of the global market for integrated quantum photonic circuits.

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Regional analysis for the Integrated Quantum Optical Circuits Market includes 

  • North America Market
  • U.S.
  • Canada
  • Latin America Market
  • Mexico
  • Brazil
  • Rest of Latin America
  • Western Europe Market
  • Germany
  • France
  • U.K.
  • Spain
  • Italy
  • Nordic
  • Benelux
  • Rest of Western Europe
  • Eastern Europe Market
  • Poland
  • Russia
  • Rest of Eastern Europe
  • SEA and other APAC
  • Australia and New Zealand (A&NZ)
  • India
  • ASEAN
  • Rest of SEA and other APAC
  • Japan
  • China
  • Middle East and Africa Market
  • GCC Countries
  • North Africa
  • South Africa
  • Rest of MEA

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Integrated Quantum Optical Circuits Market: Segmentation 

The integrated quantum optical circuits market can be segmented into various segments but as per the market analysis the market for integrated quantum optical circuits is most suitably segmented by material type, component, application, and region.

On the basis of material type the Integrated Quantum Optical Circuits market can be divided into; 

  • Indium Phosphide
  • Silica Glass
  • Silicon Photonics
  • Lithium Niobate
  • Gallium Arsenide

On the basis of component the Integrated Quantum Optical Circuits market can be divided into; 

  • Waveguides
  • Directional coupler
  • Active components
  • Light sources
  • Detectors

On the basis of application the Integrated Quantum Optical Circuits market can be divided into; 

  • Optical Fiber Communication
  • Optical Sensors
  • Bio Medical
  • Quantum Computing
  • Others

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.

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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Europe Trolley Bus Market Demand to Reach US$ 999.1 Million by 2033

As per the latest report from Future Market Insights (FMI), the Europe Trolley Bus Market is projected to reach a valuation of US$ 999.1 million by the year 2033. The market is anticipated to grow at a moderate CAGR of 2.7% during the forecast period. By 2023, the market is expected to achieve a significant milestone, reaching US$ 765.4 million.

Technological Trends: Technological advancements in trolleybuses focus on improving energy efficiency, range, and passenger comfort through innovations such as lightweight materials reducing vehicle weight and energy consumption, fast-charging systems enabling quick turnaround times at bus stops, and digital connectivity enhancing onboard amenities and passenger information services.

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Market Drivers: Factors driving the Europe trolleybus market include environmental concerns about air pollution and greenhouse gas emissions, government initiatives to reduce carbon footprint and improve air quality in urban areas, public transit funding programs supporting electrification projects, and advancements in battery and charging infrastructure technologies enabling greater flexibility in trolleybus operations.

Market Challenges: Challenges facing the Europe trolleybus market include infrastructure constraints limiting expansion of overhead wire networks, cost considerations for trolleybus procurement and operation compared to diesel or hybrid buses, route planning complexities requiring coordination with urban development plans and traffic management strategies, and public perception challenges related to trolleybus reliability and convenience.

Opportunities: Despite challenges, there are opportunities for growth in the Europe trolleybus market, particularly in segments such as zero-emission zones, transit corridors with high passenger demand, and cities with ambitious sustainability goals. Additionally, there is potential for partnerships and collaborations between transit agencies, municipalities, and technology providers to accelerate the adoption of trolleybus systems and support sustainable urban mobility initiatives.

Top Highlights from the FMI’s Analysis of the Europe Trolley Bus Market: 

  • The dual-powered segment is projected to grow at a significant pace over the assessment period. The segment is expected to outshine pure electric technology in the upcoming years. Research and development for the former segment are expected to drive its technological growth.
  • On the basis of application, local commute transportation is expected to generate significant growth opportunities. The growing adoption of greener passenger transport is anticipated to push market growth.
  • Italy is expected to generate a massive revenue share in the region. In Italy, the availability of well-established public transport infrastructure is projected to push regional growth.
  • France holds the potential for the trolley buses industry growth. Significant investments in trolley buses are expected to push the market growth. Additionally, new trolleybuses with 10% more capacity, are expected to be delivered by 2024.
  • Ukraine, another European country, observes high demand for trolley buses. Currently, this disputed place inhabits the world’s extensive trolley bus. Enhancing public transit infrastructure in Ukraine is expected to positively influence passengers to opt for the trolley bus.

Key Players in the Market

  • Construcciones y Auxiliar de Ferrocarriles, S.A.
  • OJSC Holding Managing Company Belkommunmash
  • ŠKODA Transportation a.s.
  • Kiepe Electric GmbH
  • Carrosserie Hess AG
  • Bohdan Motors JSC

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Trolley Bus Market by Category

By Bus Type:

  • 12 M
  • 18 M

By Application:

  • Local Commute Transportation
  • Amusement Parks
  • Auxiliary Purpose

By Technology:

  • Pure Electric
  • Dual Powered (Electric + Battery)

Country:

  • Russia
  • Germany
  • United Kingdom
  • Italy
  • Spain
  • France
  • Greece
  • Nordic
  • BENELUX
  • Ukraine
  • Romania
  • Rest of Europe

Author

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

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

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

About Future Market Insights (FMI)

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

Contact Us:        

Nandini Singh Sawlani   

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Low Rolling Resistance Tire Market to Reach US$ 54 Billion by 2033

The global low rolling resistance tire market is estimated to attain a valuation of US$ 18.4 billion in 2023 and is expected to reach US$ 54 billion by 2033, expected to incline at a CAGR of 11.3% during the forecast period.

Technological Trends: Technological advancements in low rolling resistance tires focus on improving fuel efficiency, wet and dry traction, and tread wear characteristics through innovations such as silica-based tread compounds reducing energy loss, asymmetric tread designs enhancing handling and stability, tire aerodynamics optimizing airflow around the tire, and integrated tire pressure monitoring systems (TPMS) optimizing tire inflation for efficiency.

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Market Drivers: Factors driving the low rolling resistance tire market include increasing awareness of climate change and air pollution, government regulations mandating fuel economy standards and emissions reductions, rising fuel prices driving consumer demand for fuel-efficient vehicles and tires, and advancements in tire manufacturing processes enabling cost-effective production of low rolling resistance tires.

Market Challenges: Challenges facing the low rolling resistance tire market include cost pressures from tire manufacturers and automotive OEMs, trade-offs between rolling resistance reduction and other tire performance attributes such as traction and tread life, consumer perception challenges related to tire safety and durability, and the need for continuous innovation to meet evolving regulatory requirements and consumer preferences.

Opportunities: Despite challenges, there are opportunities for growth in the low rolling resistance tire market, particularly in segments such as electric and hybrid vehicles, fleet operations seeking fuel cost savings, and emerging markets with increasing vehicle ownership rates and environmental awareness. Additionally, there is potential for partnerships and collaborations between tire manufacturers, automotive OEMs, and government agencies to promote sustainable mobility solutions.

Key Takeaways

  • The United States low rolling resistance tire market is expected to grow with a CAGR of 11%.
  • The market in China is expected to grow with a CAGR of 11.4% during the forecast period.
  • By sales channel, aftermarket segment is projected to grow with an impressive CAGR of 14.4% during the forecast period.
  • The market in India is expected to grow with a CAGR of 11.5% throughout the forecast period.

Rising popularity and demand for electric and hybrid vehicles is expected to drive the demand for low rolling resistance tires during the forecast period,” comments an FMI Analyst

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Competitive Landscape

The low rolling resistance tire market is intensely competitive, with several key industry players investing heavily in providing these services.

The key industry players are Bridgestone Corporation, The Goodyear Tire & Rubber Company, Sumitomo Rubber Industries Ltd., Pirelli & C S.p.A, Hankook Tire, MICHELIN, Continental AG, Trelleborg AB, The Yokohama Rubber Co. Ltd, Apollo Tyres Ltd., Maxxis International (Cheng Shin Rubber), Marangoni S.p.A, MRF Tyres.

Key Segments Profiled in the Low Rolling Resistance Tire Industry Survey

Vehicle Type:

  • Passenger Vehicle
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle

Width Type:

  • Dual Type
  • Wide Band Type

Sales Channel:

  • OEM
  • Aftermarket

Region:

  • North America
  • Latin America
  • Europe
  • 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.

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

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

About Future Market Insights (FMI)

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

Contact Us:        

Nandini Singh Sawlani   

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Automotive In-Wheel Motors Market Expected to Reach US$ 17.457 Billion by 2033

The automotive in-wheel motors market share is expected to be valued at around US$ 2.93 billion by the end of 2023. Automotive in-wheel motors are expected to be worth around US$ 2.127 billion by the end of 2022. Automotive in-wheel motors industry is predicted to increase at a 19.5% CAGR to US$ 17.457 billion by 2033.

Market Drivers:

Vehicle Electrification: The shift towards vehicle electrification, driven by environmental regulations and sustainability goals, accelerates the adoption of in-wheel motors as an efficient and compact propulsion solution for electric vehicles (EVs) and hybrid vehicles.

Performance Enhancement: In-wheel motors offer benefits such as instant torque delivery, improved traction control, and enhanced dynamic handling characteristics, contributing to superior vehicle performance, agility, and responsiveness.

Space-saving Design: Integration of electric motors into the wheels frees up space within the vehicle chassis, enabling designers to optimize interior space, enhance vehicle packaging, and introduce innovative vehicle architectures.

Regenerative Braking: In-wheel motors facilitate regenerative braking, capturing kinetic energy during deceleration and braking events and converting it into electrical energy, which can be stored in the vehicle’s battery pack and used to extend driving range.

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Market Challenges:

Cost Considerations: In-wheel motor systems may incur higher manufacturing costs compared to traditional drivetrain configurations, which could impact the overall cost-effectiveness and affordability of electric vehicles equipped with this technology.

Complexity and Integration: Integration of in-wheel motors with vehicle chassis, suspension systems, and braking systems requires careful engineering and integration to ensure compatibility, performance, and safety.

Weight and Unsprung Mass: In-wheel motors add unsprung mass to the vehicle’s suspension system, which may affect ride comfort, handling dynamics, and vehicle stability, requiring additional engineering efforts to mitigate potential drawbacks.

Durability and Reliability: Ensuring the durability, reliability, and serviceability of in-wheel motor systems under various operating conditions, including temperature extremes, road conditions, and load cycles, poses challenges for manufacturers and engineers.

Market Trends:

Modular Platforms: Development of modular in-wheel motor platforms and standardized components facilitates scalability, customization, and integration across different vehicle types, sizes, and applications.

Advanced Materials: Adoption of lightweight materials, such as carbon fiber composites and high-strength alloys, reduces the weight and mass of in-wheel motor systems, enhancing efficiency, performance, and energy density.

Integrated Control Systems: Integration of advanced control systems, motor controllers, and vehicle dynamics algorithms enables seamless coordination and optimization of in-wheel motor performance, traction control, and stability management.

Autonomous Vehicles: In-wheel motors support the development and deployment of autonomous vehicles by offering precise control, independent torque vectoring, and adaptive traction control capabilities for enhanced maneuverability and safety.

Key Takeaways

  • The United States might increase its market share by 20.1% between 2023 and 2033.
  • Between 2023 and 2033, Germany may hold 6.3% of the automotive in-wheel motors industry.
  • Japan’s share of the automotive in-wheel motors industry could reach 6.9% between 2023 and 2033.
  • Australia to hold a 0.3% share of the automotive in-wheel motors market from 2023 to 2033.
  • During the forecast period, the Chinese automotive in-wheel motors business to expand at a CAGR of 22.1%.
  • From 2023 to 2033, the United Kingdom automotive in-wheel motors industry registered at a 15.8% CAGR.
  • Through 2033, the Indian automotive in-wheel motors market to record a CAGR of 23%.
  • The radial flux motor segment to acquire a substantial market share of 79.7% in the product type category between 2023 and 2033.
  • The BEV sector to grab a significant automotive in-wheel motors market share of 73% in the technology category between 2023 and 2033.

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Competitive Landscape

The competitive outlook of the automotive in-wheel motors market is highly promising and competitive. Key automotive in-wheel motors manufacturers are investing in research and development activities to enhance their product offerings and gain a competitive edge. The market is witnessing increased adoption of automotive in-wheel motors technology, driving competition among manufacturers to capture a larger market share.

Prominent Automotive In-Wheel Motors Manufacturers

  • Protean Electric
  • Elaphe
  • ZIEHL-ABEGG
  • Printed Motor Works
  • NTN
  • TM4
  • HEINZMANN GmbH & Co. KG
  • YASA Limited

Key Segments

By Product Type:

  • Axial Flux Motor
  • Radial Flux Motor

By Technology:

  • BEV
  • HEV
  • PHEV

By Vehicle Type:

  • Passenger Car
  • Commercial Vehicle

By Cooling:

  • Air Cooled
  • Liquid Cooled

By Region:

  • North America
  • Latin America
  • Europe
  • Japan
  • 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.

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

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

About Future Market Insights (FMI)

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

Contact Us:        

Nandini Singh Sawlani   

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Automotive Light Bars Market Projected to Reach US$ 69 Billion by 2033

The global automotive light bars market in 2022 was US$ 33.8 billion and is estimated to be US$ 37.1 billion in 2023. Future Market Insights has mentioned in its reports that the Automotive Light Bars Market will expand at a CAGR of 6.4% between 2023 and 2033, totaling around US$ 69 billion by 2033.

Light commercial vehicles (LCVs) are anticipated to account for over half of the global automotive light bars market, as commercial vehicles run considerably, and run many miles late at night, thus, their visibility and cost-efficiency are important factors. Moreover, the preference of long-distance travelers toward commercial vehicles is considered to strengthen the unit sales of automotive light bars during the forecast period.

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Key Takeaways from the Market Study

  • Global automotive light bars market expanded at a CAGR of 5.2% between 2018 and 2022.
  • The automotive light bars market is expected to register a 5.3% CAGR between 2022 and 2029.
  • China’s automotive light bars market is estimated to account for around 29.6% of the total market share.
  • India is said to expand at a CAGR of 4.98%.
  • Japan holds a value share of 5.77%.
  • Australia captures a market share of 4.6%.
  • Germany secures a market share of 29.6%.
  • Europe’s automotive light bars market is projected to hold around 19.2% of the share.
  • The United Kingdom holds a market share of 16.77%.
  • The United States holds a market share of 22.6%.
  • North America’s automotive light bars market is anticipated to account for about 38.1% of the share.
  • E-commerce sector is adopting heavy commercial vehicles with color-changing light bars.
  • Heavy commercial vehicles are expected to drive growth in this segment with a market share of 44.8%.
  • Surging adoption of LED light bars in emergency vehicles to boost growth.
  • LED segment holds a market share of 41.3%.
  • Expansion of the automotive aftermarket to propel sales of car light bars.
  • Aftermarket segment is estimated to remain at the forefront in the automotive light bars market over the forecast period with a market share of 53.1%.
  • Launch of innovative interior lighting systems to bolster the adoption of auto LED light bars.
  • Interior segment is projected to lead the automotive light bars market over the forecast period with a value share of 33%.

“Rise in sales of premium cars acts as one of the primary development in the automotive light bars market”, comments a Future Market Insights Analyst.

Competitive Scenario:

Some of the prominent players profiled in the global market are-

  • HELLA GmbH & Co. KGaA
  • OSRAM Licht AG
  • Federal Signal Corporation
  • Truck-Lite Co., LLC
  • Grote Industries, Inc.
  • Whelen Engineering Company Inc.
  • Ecco Safety Group
  • Lumex Industries
  • PIAA Corporation
  • Putco Inc.
  • KC HiLiTES Inc.

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Key Innovations in the Market

  • In April 2023, viewing the high-quality selection of aftermarket Trim Products for the 2023 Ford Maverick, Putco has been manufacturing and designing automotive and truck accessories in Des Moines, IA for over 50 years.
  • In January 2023, automotive supplier HELLA operates under the FORVIA umbrella brand, which is growing significantly strong than global vehicle production. Accordingly, HELLA generated sales of €2.0 billion. Compared to the first quarter of the calendar year 2022, this means growth of 14.4 percent (Q1 CY 2022: €1.7 billion1). Global vehicle production increased by 5.7 percent in the same period.

Automotive Light Bars Market Segmentation

By Type:

  • Passenger Vehicles
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles

By Technology:

  • Halogen
  • HID
  • LED

By Sales Channel:

  • OEMs
  • Aftermarket

By Installation:

  • Front
  • Side
  • Rear
  • Interior

By Region:

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

Author

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

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

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

About Future Market Insights (FMI)

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

Contact Us:        

Nandini Singh Sawlani   

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