Global Market for Electric Water Heaters is Expected to Reach US$ 38.52 Billion by 2032 | FMI

Throughout the forecast period, the Electric Water Heater Market is expected to hold the worldwide market at a moderate CAGR of 5.2%. The global market is expected to generate US$ 24.4 billion in sales in 2022 and US$ 38.52 billion by the end of 2032.

Introduction of the Industry 4.0 Technology as a Catalyst for New Growth Avenues in the Electric Water Heater Market

The industrial revolution. This is commonly known as Industry4.0

The rise of Industry 4.0 has led to a preference for embracing the new technologies like artificial intelligence, smart manufacturing, the internet of things (IoT), and also machine learning in modern-day factories around the globe. In the Electric Water Heater market, this is expected to create many lucrative growth opportunities.

Additionally, increasing government emphasis building a better manufacturing sector and integration of augmented and virtual reality using smart equipment to enhance the output is estimated to propel the demand in the market for coming years.

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Key Electric Water Heater Market Takeaways and Projections

  • The U.S. is estimated dominate the Electric Water Heater market in North America, accounting for the largest share in the region through 2022.
  • Germany is projected to account for a significant share in the Europe market over the assessment period.
  • China is forecast to hold the lion’s share the East Asia market, projecting the fastest growth in the region between 2022 and 2032
  • India is anticipated to emerge as a highly remunerative market in South Asia, accounting for the largest sales during the forecast period.

Report Benefits & Key Questions Answered

  • Electric Water Heater Historical Market Outlook: Future Market Insight’s analysis examines vital dynamics, such as drivers, opportunities and challenges. It studies their impact on the market over the previous assessment period 2016-2020. The report provides crucial insights to market players to capitalize on opportunities and counter challenges.
  • Electric Water Heater Demand-Supply Assessment: A latest study published by FMI offers in-depth insights into governing factors facilitating the demand outlook of the Electric Water Heater As per the survey, Electric Water Heater sales will project steady growth over the forecast period.
  • Electric Water Heater Consumption by Demographics: The report published by FMI provides consumption by demographics analysis to assist the market players in formulating their marketing strategies on the basis of purchasing power of the customers. It examines changes in consumer behavior and also studies its effect on the demand for Electric Water Heater.
  • Electric Water Heater Market Trend Analysis: FMI’s market trend analysis provide detailed insights into current and upcoming trends in the industrial automation industries. It also assist the industry players to identify potentials trends to capitalize on them.

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Competitive Landscape

Some key players in the Electric Water Heater market are Whirlpool, General Electric Co., Rheem Manufacturing Company, A.O. Smith Corp, Bradford White, Bajaj Electricals, Goodman, Midea Group, Siemens AG, and others

  • Bajaj Electricals, a well-known electrical appliance company has launches new water heater models called ‘Campagno’ and ‘Caldia NXG’ in November 2021, with safety features as child safety mode and auto shut off technology. The child safety mode allows the user to regulate the temperature to certain limit, avoiding the water burns, and auto shut off technology, shuts off the heater after 90 minutes of inaction.
  • A.O. Smith has launched a compact, instant water heater with 3-liter capacity in 2020. The heating component used in this heater is covered with glass, protecting it from scale formations and helping it to work efficiently. The design of this heater is compact and modern, suitable for any type bathroom, giving it an elegant look.

Key Segments Profiled In The Electrical Water Heaters Market

By Product Type:

  • With Tank
  • Tank less

By Capacity:

  • Small
  • Medium
  • Large

By End User:

  • Residential
  • Commercial
  • Industrial

By Region:

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

About Future Market Insights, Inc. (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 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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Nandini Singh Sawlani 

Future Market Insights Inc.
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Rail Wheel and Axle Market Size Projected to Reach US$ 7,603.4 Million by 2033

During the forecast period, the global rail wheel and axle market size is expected to expand at a steady CAGR of 5.6%. At its present growth rate, the global market for rail wheels and axles is expected to be worth $4,402.3 million by the year 2023. In 2033, the demand for rail wheel and axle is projected to reach US$ 7603.4 million.

Key Takeaways

  • It is estimated that the US market for rail wheel and axle will be worth $570.8 million in 2022.
  • Market value in China, the world’s second largest economy, is projected to reach $878 million by 2026, expanding at a CAGR of 6% from 2023 to 2033.
  • Over the projection horizon, both Japan and Canada are predicted to grow at rates of 2.9% and 3.8%, respectively.
  • The demand for rail wheel and axle in Germany is projected to expand by 3.3% this year.

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Due to the growing sophistication of rail networks and trains, as well as the present trend toward autonomous technology, train makers are devoting significant resources to R&D to develop lighter materials for wheels and axles for freight trains, passenger trains, and short-distance trains.

Nearly 7 billion people take trains each year, and they all want to travel as quickly, easily, and economically as possible. It’s for this reason that the research and development of fully driverless trains is continuing to advance. Computerized monitoring systems installed on autonomous trains can detect problems with rail wheels and axles.

There are numerous benefits to using a solar rail system instead of traditional diesel trains. Diesel-powered trains usually have two engine cars. In contrast, solar-powered trains use solar gears in place of traditional gears. Solar panels have been put on the bogie roofs, and electric motors and batteries have been installed in the second diesel compartment.

The electrical needs of railway engines, which normally require 750 V to 800 V to move the rails, may be met by solar panels set atop trains providing voltages of 600 V to 800 V. Demand for these trains is likely to rise, which is good news for manufacturers of rail wheels and axles.

The rail wheel and axle market is an important segment of the global rail transportation industry. Rail wheel and axle products are essential components of rail vehicles, such as trains, trams, and subway cars, and are used to support and propel these vehicles. There are several factors that are driving the global rail wheel and axle market, including growth in rail transportation, urbanisation and population growth, environmental concerns, and technological advancements.

However, the demand for rail wheel and axle is also facing several restraints or challenges, including high capital costs, cyclical demand, a complex supply chain, competition from other modes of transportation, and regulatory challenges. Despite these challenges, the rail wheel and axle market is expected to continue growing in the coming years, driven by increasing demand for rail transportation and ongoing technological advancements in the industry.

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Competitive Landscape

The global rail wheel and axle market is highly competitive, with many companies operating in this space. These companies are engaged in a range of activities, including the production of rail wheels and axles, the repair and maintenance of these products, and the supply of related services.

There are several key players in the global rail wheel and axle market, including Amsted Rail, ArcelorMittal, Bradken, GE Transportation, Klöckner Pentaplast, Lucchini RS, NSSMC, Vyatka, and Wabtec. These companies are well-established players with a strong presence in the market and a reputation for producing high-quality products.

Overall, the global rail wheel and axle market is highly competitive, with a diverse range of companies operating in this space. Companies in the market are constantly seeking ways to differentiate themselves from their competitors, such as through the development of new technologies or the expansion of their product offerings.

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Key Segments in the Global Rail Wheel and Axle Market

By Wheel Type:

  • Monoblock Wheels
  • Resilent Wheels
  • Rubber Tyred Wheels
  • Steel Tyred Wheels
  • Other Special Wheels

By Axle Type:

  • Hollow Axles
  • Solid Axles

By End Use:

  • High Speed Railway
  • Fast Speed Railway
  • Subway
  • Other End Uses

By Sales Channel:

  • OEMs
  • Aftermarket

Region:

  • North America
  • Latin America
  • Asia Pacific
  • MEA (Middle East and Africa)
  • 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
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Railway Coupler Market Size to reach US$ 5,687.2 Million by year 2033

In the present year 2023, the total revenue generated by the global railway coupler market size is estimated to be around US$ 3,954.7 Million. As per the railway coupler market analysis report, from 2023 to 2033, the overall market share is anticipated to register at a CAGR of 3.7% and attain a market size of US$ 5,687.2 Million by 2033.

Key Takeaways from the Railway Coupler Market Study

  • The demand for railway couplers in India is being driven by investment in new railroad projects making it the fastest-growing region and is expected to register a CAGR of 5.5% during the forecast years.
  • Considering semi-automatic train couplers provide a durable mechanical and pneumatic connection between cars, the market for these types of railway coupler segments is expected to grow quickly throughout the forecast period.
  • Based on application, the freight wagon category is the dominant user of railway couplers in comparison to other segments, and it contributes to almost 43.5% of the market share.
  • The US is the leading regional market railway couplers and acquires 18.3% of the global market share.
  • Due to the fast expansion of the freight rail network, Asia Pacific countries are anticipated to account for the largest portion of the worldwide railway coupler market in the coming days.

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Due to the widespread use of semi-automatic as well as automatic types in various railways, including Light Rail Transit (LRT), mass transit rail, regional or intercity rail, metro or subway, as well as high-speed trains, among many others, the global railway coupler market is also anticipated to grow during the forecast period.

Moreover, the International Union for Railways (UIC) estimates that over 300 million people use the rail network annually, with an average annual increase of over 100%. Unfortunately, the difficulties in the completion of the railway projects could pose a limiting factor for the sales of railway couplers in several parts of the world.

Competitive Landscape for the Railway Coupler Market

Dellner Couplers AB, Escorts Limited, Nippon Steel and Sumitomo Metal Corporation, Voith GmbH & Co. KGaA, The ESCO Group, A.D. Electrosteel PVT. Ltd., Wabtec Corporation, and Titagarh Wagons Limited are a few of the well-known companies active in the global railway coupler market.

The overall market is fairly consolidated by the presence of a few key players in most of the economies. However, the recent emergence of a number of new railway coupler market players has started eroding the dominance of the existing business. They are mostly targeting clients in emerging economies of Asia Pacific and Africa through online distribution channels.

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Recent developments in the Railway Coupler Industry 

The idea of virtual coupling in model train coupler types is getting prominence since it enables wagons to run closer to one another without really making touch. By reducing the time and expense of transportation, virtual railway coupling increases the efficiency of railway delivery services as well. The requirement for mechanical linkage can also be eliminated by the use of such types of train couplers is anticipated to open up new avenues for the market participants.

Recently developed railroad knuckle couplers of the SA3 kind are primarily utilized for the transportation of railcars, freight, and big loads. To increase its performance, it primarily has a redesigned coupler head and an energy absorption system that are coupled together in many automation systems.

Key Segments of the Railway Coupler Industry

By Product Type:

  • Automatic
  • Semi-automatic
  • Others

By Application:

  • Passenger Train
  • Subway Train
  • High-speed Train
  • Freight Train
  • Others

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By Distribution Channel:

  • Direct Channel
  • Distribution Network
  • Others

 

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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By the End of 2032, the Laptop Accessories Market is Expected to Surpass US$ 75.7 Billion | FMI

The Laptop Accessories Market is likely to hold the global market at a moderate CAGR of ~6.7% during the forecast period. The global market holds a forecasted revenue of ~US$ 39.6 Billion in 2022 and is likely to cross ~US$ 75.7 Billion by the end of 2032.

This Laptop Accessories Analysis market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape.

Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Laptop Accessories Analysis market.

Global Laptop Accessories Market Outlook

The growth in sales of consumer electronics products is fueling at a significant rate due to increasing customers which in turn is fueling the growth of the accessories associated with them. Laptop being a rapidly growing consumer electronics product is positively influencing the growth of laptop accessories market.

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Moreover, short life period of the laptop accessories supports their growth in terms of volume as customers need to buy laptop accessories in an average time period of 3-5 years. On other hand innovation pertaining to laptop accessories are encouraging the customers to purchase the new product which in turn significantly boosts the growth of the market.

Commercial segment including corporate offices, manufacturing industries, and others is expected to hold a significant share in the global laptop accessories market due to increasing use of laptops due to its benefits like portability, light weight   and other features. On back of these factors the global laptop accessories market is expected to witness a significant growth during the forecast period.

Global Laptop Accessories Market: Market Dynamics

Drivers for Laptop Accessories Market

Increasing purchasing power in developing countries such as Thailand, Brazil, India, China and others allows the consumers to spend more on their consumer electronics which in turn is increasing sales of the laptop accessories. Increasing number of corporate offices across the globe is significantly boosting the sales of laptop accessories market.  Moreover, an increase in urbanization, disposable income and e-commerce penetration are expected to fuel growth of the laptop accessories market in South Asia and East Asia.  On other hand, ease in availability of the laptop accessories at department stores is positively influencing growth of the market.

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Trends for Laptop Accessories Market

Key players in the marketer are showing increasing focus on increasing the battery storage features, fast charging features in laptop chargers and quality enhancement in other product to increase the sales of products in terms of volume.  Company are principally engaged in increasing the sales of laptop accessories by pushing the product through showrooms and campaigns. Increasing company spending on advertisement of the laptop accessories through social media network like Instagram, Facebook and others is expected to attract customers towards laptops accessories which in turn is expected to boost sales of the market during the forecast period.

Opportunities for Laptop Accessories Market

Due to external factors like technological advancements in Wi-Fi, Bluetooth, Infrared and internal factors like minimization of overall weight of accessories the laptop accessories market is expected to witness a significant growth during the forecast period. Moreover, product innovation with cost-effectiveness is expected to bring a boom in the global laptop accessories market.

Challenges for Laptop Accessories market

The increasing availability of low cost counterfeit products poses a significant challenge to the growth of laptop accessories market in South Asia and East Asia countries such as China, India, Taiwan and Indonesia and others.

Laptop Accessories Market: Regional Outlook

East Asia and South Asia together are expected to hold a prominent share in the global laptop accessories market due to presence of large number of corporate offices in the region. Moreover, high e-commerce penetration in the regions are showing an increasing sales of laptop accessories through residential segment.

Key players in North America and Europe are involved in launching new product with innovative technology to cater the surge of customers. On the other hand, effect of recession in Latin America is hindering the growth of laptop accessories market in the region. Growth of consumer electronics products in UAE due to increasing industrialization is positively influencing growth of laptop accessories market in Middle East & Africa.

Global Laptop Accessories Market: Key Players

Some of the key players operating in the global Laptop Accessories market are Fellowes Brands, Hama GmbH & Co KG., Bourns Inc., Panduit, Sovella Inc., Tripp Lite, Keysight Technologies, Fluke Corporation, Bartec USA LLC and others.

These players are expected to positively influence growth of the Laptop Accessories market during the forecast period. These players are engaged in manufacturing electronics as well as non-electronic laptop accessories with continuous focus on technological innovation and decreasing the cost of the product.

Global Laptop Accessories Market: Market Segmentation

On the basis of product type the global laptop accessories market has been segmented as

  • Electronic Laptop Accessories
    • Laptop Charger
    • Laptop Battery
    • Audio accessories.
    • Touchpads
    • External Hard Drive
    • Other Electronic Accessories
  • Non-Electronic Laptop Accessories
    • Laptop Cases
    • Laptop Stand and Lap Desk
    • Screen Guard
    • Other Non-Electronic Accessories

On the basis of price range, the global laptop accessories market has been segmented as

  • Premium
  • Mass

On the basis of end-user, the global laptop accessories market has been segmented as

  • Individual
  • Professional/ Commercial

On the basis of distribution channel, the global laptop accessories market has been segmented as

  • Direct
  • Indirect
    • Wholesalers/Distributors
    • Hypermarket/Supermarket
    • Specialty Stores
    • Independent Small Stores
    • Online Sales Channel
    • Others

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
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Vehicle Control Unit (VCU) Market Size Poised for a 19.3% CAGR Growth, Projected to Reach US$ 11,102.5 Million by 2033

According to Future Market Insights, demand for vehicle control unit (VCU) market size is expected to grow at a CAGR of 19.3% over the projected timeframe. The market is expected to be valued at US$ 11,102.5 million by 2033, up from US$ 1,901.1 million in 2023.

Key Takeaways from the Vehicle Control Unit (VCU) Market

  • The United States is expected to hold a 10.5% market share during the projection period. The region dominates the global market.
  • During the forecast period, Europe is predicted to be the second largest market, with a 6.4% share.
  • Asia Pacific is expected to be the fastest-growing and largest vehicle control unit market during the forecast period.
  • The China vehicle control unit market is expected to develop at a CAGR of 14.6% during the projected period.
  • The India vehicle control unit market is expected to be one of the areas with the biggest development potential, with a CAGR of 23.6%.
  • Due to the constant growth in the pace of production worldwide, which has increased in the manufacture and installations of VCU systems, the ICE category dominated the market with a 70.12% share for the Propulsion Type.
  • The market CAGR for ADAS systems was about 6.71%. The major automakers are incorporating ADAS technologies to increase the safety rating of their vehicles and win over customers, which is driving up demand for this industry internationally.
  • With a market share of 65%, the Passenger Cars sector of the Vehicle Type division topped the market.

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Rising demand for electric vehicles, as well as the increasing prevalence of automation in vehicles and the electrification of automotive parts, are expected to drive vehicle control unit sales (VCU). Rising public safety concerns, as well as rising demand for ADAS and automated safety systems, are some of the primary driving factors. However, high investment costs are a significant impediment to industrial development.

The demand for advanced electric vehicles and cutting-edge vehicle electronics technologies are key factors driving the vehicle control unit market’s expansion. An increased focus on electric car features and the requirement for integrated vehicle electronics are anticipated to assist the industry. Advanced compact VCUs are being developed by businesses so they can handle and execute linked processes including ADAS, predictive technology, infotainment, body control, battery management, torque coordination, and autonomous driving.

Some of the Major Players in the Vehicle Control Unit (VCU) Market

  • Texas Instruments (US)
  • Mitsubishi Electric Corporation (Japan)
  • ZF FRIEDRICHSHAFEN AG (Germany)
  • Continental AG (Germany)
  • Denso Corporation (Japan)
  • Hyundai Mobis (Korea)
  • Autoliv (Sweden)
  • Robert Bosch GmbH (Germany)
  • Altera (Intel Corporation) (U.S.)
  • Valeo Inc. (France)
  • Delphi Technologies (U.K.)
  • NXP Semiconductors N.V. (Netherlands)

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Recent Developments in the Vehicle Control Unit (VCU) Market

  • Mitsubishi said in February 2019 that it has developed the world’s smallest power unit for a two-motor hybrid electric car (two inverters and one converter), weighing only 2.7 liters and generating a world-leading 150 kVA/l power density. The motor also has a world-class output power density of 23 kW/l.
  • In March 2020, Robert Bosch GmbH and Nikola Motor Company formed a partnership to develop a fuel cell truck. The central component of the advanced truck system is the Bosch vehicle control unit, which provides more computer capacity for advanced operations while reducing the number of separate components.
  • Continental unveiled the redesigned Safety Domain Control Unit (SDCU) in January 2018 as a backup for the Automated Driving System.

Vehicle Control Unit (VCU) Market Segmentation by Category

By Vehicle Type:

  • Commercial Vehicle
  • Passenger Car

By Component:

  • Hardware
  • Software

By Propulsion Type:

  • BEV
  • HEV
  • PHEV

By Communication Technology:

  • Controller Area Network
  • Local Interconnect Network
  • Flexray
  • Ethernet

By Function:

  • Predictive Technology
  • Autonomous Driving/ADAS

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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By 2033, the Mason Jars & Canning Supplies Market is Expected to Grow at a 4.3% CAGR and Reach US$ 44.75 Billion | FMI

The mason jars & canning supplies market is expected to be worth US$ 27 billion in 2023. Demand in the market is expected to reach US$ 44.75 billion by 2033, registering an 4.3% CAGR over the forecast period (2023-2033).

It is widely used as decorative pieces, drinking cups and even candle stands also. In addition, using bulk food canning supplies takes less time and money yet it maintains the natural flavor of the vegetables and fruits all year round. Therefore, the global mason jars and canning supplies market will remain a very lucrative one for this period (2020-30). Mason jars are widely used for the packaging of food and also other consumer products. Home canning is one of the most common and also successful approaches to preventing bacterial growth in order for preserving food.

Therefore, it is preferable by consumers rather than mayonnaise jars and salad dressing jars to other jar that the mason are sturdy. There is a big customer base for mason jar and also canning materials in the international market.

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Mason Jars & Canning Supplies Market – Key Trends

Growing awareness concerning the home canning process efficiency, the requirement for mason jars & canning supplies is anticipated to increase, amid the customers.

Another vital factor that directs towards the rise in demand of the mason jars & supplies market is its consistent volume and consistent shape which affects the heating rate of the food in the jar. It is time-consuming to heat the coldest point of the food to the wanted temperature in bigger volume jars than it does in small volume jars.

Another aspect that prompts the rise in need for mason jars & canning supplies is their durability. Mason jars are prepared for heavy glass due to which there is less breakage chance. The canning process could be performed in the metal containers in addition to mason jars.

On the other hand, there is a noteworthy inclination for mason jars, as metal jars might be used only once, whereas mason jars can be utilized numerous times for the canning process. This is one of the imperative factors which are anticipated to fuel the need for mason jars & canning supplies.

Mason Jars & Canning Supplies Market – Growth Restraints

In spite of the favorable conditions for stable growth of the global mason jars & canning supplies market, certain aspects can impede the growth. These incorporate growing preference for ready-meals and increasing implementation of the ‘on-the-go’ lifestyle. Additionally, the rubber seals on the lids absorb and retain odors which might discourage sales in the global market.

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Mason Jars & Canning Supplies Market – Region-wise Analysis

North America is likely to account for the highest share in the global mason jars market during the assessment period owing to the presence of major market players. The Asian region is likely to see the maximum growth of the mason jars and canning supplies market and quickly growing population with an urban lifestyle.

The MEA (the Middle East & Africa) is also projected to achieve development throughout the assessment period. Europe will be recording a comparatively slower growth than the Asian region.                                       

Mason Jars & Canning Supplies Market – Competitive Analysis

Major players operating in the global mason jars & canning supplies market include Fillmore Container, The Jar Store, Plasdene Glass-Pak Pty Ltd., Ball Mason, and Kerr. Manufacturers will be engaged in enhancing the production process and focusing on offering new innovative products.

Presto has launched 01781 23-Quart Pressure Cooker and Canner, which can be utilized as a water bath canner for tomatoes or pickles, as well as a pressure canner for non-acidic foods such as meats, soups, and non-acidic vegetables.

One of only two brands acclaimed by the National Center for Home Food Preservation for pressure canning is prepared from heavy-gauge aluminum as well as has a superior dial pressure gauge for proper canning and easy control.

Ball launches glass mason jar wide mouth pint, with bands and lids. These pint jars are convenient for everything such as pickles, salsa, as they’re appropriate in size. The wide-mouth size makes filling simpler, and they come with lids and rings so you’ll be ready for canning.

The size of the pint is convenient for multi-purpose food storage, for taking lunch to work, and as casual drinking glasses. Anchor Hocking Mason jars feature gold-toned lids despite the usual silver and is additionally free of branding and markings, which looks more gift-friendly and a bit nicer.

Kerr Mason jars offer sturdy construction quality with tightly-sealing lids, wide mouths make it simpler to pour liquids efficiently, replacement lids are voluntarily available, and they’re freezer- and heat – safe.

Global Mason Jars & Canning Supplies Market: Key Players (this is an indicative list – full list of key players available upon request)

  • Cambridge Silversmiths
  • Crate and Barrel
  • Farberware
  • J.A. Henckels
  • Kate spade
  • Oneida
  • Towle
  • Wallace
  • WMF
  • Multifunction Tools & Knives
  • Hunting & Survival Knives
  • Zwilling JA Henkels
  • Wusthof
  • Shun
  • Myabi
  • F. Dick
  • Victorinox/Forschner
  • Global
  • Shun
  • Messermiester
  • MAC
  • Mcusta

Regions and Countries Analyzed in the Report

  • North America (U.S., Canada)
  • Latin America (Mexico, Brazil, Rest of LATAM)
  • Europe (Germany, U.K., France, Italy, Spain, Poland, Russia, Rest of Europe)
  • East Asia (China, Japan, South Korea)
  • South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
  • Oceania (Australia, New Zealand)
  • Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)

Mason Jars & Canning Supplies Market – Market Segmentation

By Capacity

  • <4 oz
  • 4 oz – 8 oz
  • 8 oz – 12 oz
  • > 12 oz

By Types of Canning

  • Traditional
  • Quilted
  • Spiral
  • Aqua
  • Amber

By Application

  • Household
  • Public Consumption Restaurant
  • High-end Restaurant

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 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
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Automotive Wheel Bearing Aftermarket Size Projected to Reach US$ 2,147.80 Million by 2033

The automotive wheel bearing aftermarket size is estimated to be worth US$ 1,446.20 million in 2023 and is projected to be valued at US$ 2,147.80 million in 2033. Between 2023 and 2033, the industry is expected to register a growth rate of 4%.

Key Takeaways

  • In 2022, the automotive wheel bearing aftermarket was valued at US$ 1392.8 million.
  • Based on vehicle type, the passenger vehicle segment is expected to account for a share of 72.68% in 2023.
  • Based on product type, the tampered roller bearing segment is expected to account for a share of 31.26% in 2023
  • Global automotive wheel bearing aftermarket demand in China is predicted to account for a CAGR of 3.9% through 2033.
  • Automotive wheel bearing aftermarket in the United States is expected to account for a CAGR of 4.6% between 2023 and 2033.
  • Japan is projected to expand by a value CAGR of 3.2% between 2023 and 2033.
  • By 2033, the automotive wheel bearing aftermarket in India is anticipated to record a CAGR of 6.2% during the forecast period.

“The rapid growth of the automotive industry and growing adoption of advanced technologies for the manufacturing of better car ball bearings with improved performance are anticipated to drive the market growth during the forecast period,” – says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)

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The increasing sales and production of automotive vehicles and overall growth in the automotive industry is the main factor driving the automotive wheel bearing aftermarket growth. Modern vehicles often have more complex suspension systems and wheel bearing designs. These advanced components may require specialized tools and expertise for replacement, increasing demand for professional aftermarket services.

The growing adoption of electric and hybrid vehicles requires specialized wheel bearings designed to meet the specific demands of these vehicles, including reduced friction and extended durability. The increasing availability of aftermarket products online has made it more convenient for consumers to purchase wheel bearings, driving the market demand during the forecast period.

The increasing average age of vehicles on the road is contributing to the need for more frequent maintenance and replacements, including wheel bearings, fueling the growth of the automotive wheel bearing aftermarket growth.   Automotive wheel bearing market prominent players have begun creating hybrid automotive ball bearings with greater load capacities and enhanced overall adaptability in order to meet the demands of more efficient vehicles. Sales of hybrid bearings are anticipated to increase in the next years, which is anticipated to be positive for the industry as a whole.

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Competitive Landscape

The global automotive wheel bearing aftermarket depicts a fragmented competitive landscape due to numerous players in the market. The key players in the market have adopted innovative strategies like mergers, partnerships, and acquisitions to enhance their market presence and strengthen their market hold.

  • GMB is a global supplier of automotive parts, including wheel hub assemblies and bearings. They have a strong presence in the aftermarket and are known for providing high-quality, cost-effective solutions.
  • ILJIN is a South Korean company specializing in automotive wheel bearings and hub assemblies. They have a growing presence in the global aftermarket due to their focus on quality and technological advancements.
  • Nachi is a Japanese manufacturer known for producing a wide range of bearings, including automotive wheel bearings. They serve the global aftermarket by providing reliable and durable solutions.

Key Players Profiled in the Automotive Wheel Bearing Aftermarket Report

  1. Federal-Mogul Corporation (Tennenco Inc.)
  2. Schaeffler AG
  3. Mahle GmbH
  4. Continental AG
  5. The Timken Company
  6. NSK Ltd.
  7. JTEKT Corp
  8. NTN Corporation
  9. Rheinmetall AG
  10. NRB Bearings Ltd.

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Key Segments

By Sales Channel:

  • Original Equipment Supplier
  • Independent Aftermarket

By Vehicle Type:

  • Passenger Car
    • Compact
    • Mid-sized
    • SUV
    • Luxury
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle

By Product Type:

  • Ball Bearing
  • Precision Ball Bearing
  • Roller Bearing
  • Tapered Roller Bearing
  • Others

By Application:

  • Front
  • Rear

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • South Asia and Pacific
  • East Asia
  • The Middle East and Africa

Author

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

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

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 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


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Automotive Homologation Service Market Size Anticipated to Reach US$ 1.89 Billion by 2032

The global automotive homologation service market size is worth US$ 1.37 Billion as of now and expected to reach US$ 1.89 Billion by the year 2032 at a CAGR of 3.2% between 2022 and 2032.

Key Takeaways from Automotive Homologation Services Market

  • The Asia-Pacific holds the largest market share with Australia leading from the front. The Australian Transport Ministry, in 2020, started developing national regulatory framework for letting autonomous vehicles operate smoothly all across Australia.
  • Coming to the Europe, the government of Germany is laying down legislations for commercializing the ‘driverless vehicle technology’ with immediate effect. It, in fact, holds the distinction of being the very first extensive legal framework covering homologation to get robot axis.

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Automotive homologation comes across as the process to certify vehicles/component of vehicle if it has met requirements set through several statutory regulatory bodies. Governments across the globe have enacted mandates in this regard to be eligible for exporting automobile components or products. Every automobile has to adhere to the homologation standards, particularly in areas of safety and environment. Automotive systems, along with their components, should, by all means, have these approvals as per the destination countries’ official standards.

With top priority given to environmental protection in conjunction with safety, automobiles as well as manufacturers of spare parts need to work toward enhancing passive and active car safety.

The automotive homologation services cater to automobiles like motorcycles, passenger vehicles, trailers, commercial vehicles, and likewise. Based on type of sourcing, the entire automotive homologation services market could constitute in-house services and outsourced services.

Driverless technology is amongst the remarkable technological developments and expected to transform the automobile vertical’s dimensions. The key participants are providing services covering compliance to Bluetooth, cellular carrier and regulatory approvals, device durability testing, and likewise. These developments ought to bring tremendous growth prospects to the market on the whole.

It is a known fact that to export a vehicle to foreign country is not an easy task. There are various challenges that the manufacturer could face at the time of registration. The vehicles need to go through evaluation to demonstrate their prowess with the requirements worldwide. As such, homologation services come into picture. They help the manufacturer in enhancing product for meeting official standards pertaining to vehicles. Future Market Insights has walked through these facts with insights in its latest market study entitled ‘Automotive Homologation Services Market’. It has worked on micros and macros with analysts and consultants at its discretion.

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Competitive Edge

  • Intertek, in May 2022, did announce expanding the capabilities and services at its Transportation Technologies lab bas out of Plymouth (Devon) for meeting growing demand for reliable and safe testing from the automotive industry. The end-users include EVSE (Electric Vehicle Supply Equipment) and EVs (Electric Vehicles).
  • The NHTSA (National Highway Traffic Safety Administration), of late, did announce a new AV test called ‘Automated vehicle Transparency and Engagement for Safe Testing Initiative test’ to help in keeping a tab on autonomous vehicles’ status in the US.

“With stringency with respect to applying norms to automobiles in the wake of growing focus on environmental protection and safety, the global automotive homologation services market is expected to stand in a good stead in the near future”, says an analyst from Future Market Insights.

Key Companies Profiled

  • TÜV SÜD Group
  • Intertek Group plc
  • DEKRA SE
  • Applus Services SA
  • SGS S.A.
  • Bureau Veritas
  • Formel D Group
  • The Smithers Group Inc.
  • The Automotive Research Association of India
  • AVL List GmbH
  • TÜV Rheinland
  • UL Solutions Inc.
  • UTAC

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What’s more with Automatic Homologation Services Market?

  • The research study is based on service type (full vehicle homologation, components & systems homologation (display systems, steering control systems, wireless & wired communication systems, brake systems, engine & transmission systems, seating systems, safety & crash protection systems, door components & systems, windshield systems, fuel systems, roofing systems, interior materials & systems, tires & tire pressure monitoring system, and others), by application (domestic homologation and export oriented homologation), and by vehicle type (motorcycle, passenger vehicles, commercial vehicles, trailers, and agricultural equipment).
  • Increasing industrial activities help in promotion of strategic overseas trade operations. This is the factor prompting automotive service providers to gain a competitive edge.

Automotive Homologation Service Market Outlook by Category

By Service Type:

  • Full Vehicle Homologation
  • Components & Systems Homologation
    • Display Systems
    • Steering Control Systems
    • Wireless & Communication Systems
    • Brake Systems
    • Engine & Transmission Systems
    • Seating Systems
    • Safety & Crash Protection Systems
    • Door Components & Systems
    • Windshield Systems
    • Fuel Systems
    • Roofing Systems
    • Interior Materials & Systems
    • Tires & Tire Pressure Monitoring System
    • Other Components

By Application:

  • Domestic Homologation
  • Export Oriented Homologation

By Vehicle Type:

  • Motorcycle
  • Passenger Vehicles
  • Commercial Vehicles
  • Trailers
  • Agricultural Equipment

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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Marine Life Raft Market Size Envisioned to Reach US$ 1.5 Billion by 2032 | Future Market Insights, Inc.

The global marine life raft market size is worth US$ 1 Billion as of now and is expected to reach US$ 1.5 Billion by the year 2032 at a CAGR of 4.4% between 2022 and 2032.

Key Takeaways from Marine Life Raft Market

  • North America holds the largest market share due to customized rafts being available for hordes of activities (offshore and onshore). Recreational rafts are in greater demand with competitive pricing. Water sports and leisure sports are being preferred, which would drive marine life raft market going forward.
  • Coming to the Asia-Pacific, China holds a sizable market share due to rivers and various other water channels being increasingly used for recreational and commercial purposes.
  • Europe is expected to go steady with respect to marine life raft market in the forecast period.

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Competitive Analysis

  • VIKING Life-Saving Equipment does bring every solution needed for staying compliant and safe. The range is inclusive of lifeboats, firefighting equipment, personal protective gear, and safety training.
  • Liferaft Systems Australia (LSA) comes across as a dynamic company that has been formed especially for designing and producing ME (Marine Evaluation Systems) of higher quality. Large capacity liferafts are also asked for.

“The future belongs to the commercial sector; wherein marine life rafts would be the catalysts”, says and analyst from Future Market Insights.

Rigid inflatable rafts are known for they being light, robust, fast, and durable; which does render them conducive for maritime sector. The key participants are also expanding the footprints at the global scale, so as to reach a wider base of customers. Special materials like Hypalon or Polyurethane are used for creating products that have a better quality, are stable and durable. They are also working on expansion of supply and distribution networks through collaboration with allied industries, distributors, service providers, and governing bodies.

It is being observed that the number of ships ordered all across sea travel (ocean cruise ships, in particular) would increase in the near future. As an outcome, the global marine life raft market is bound to grow on an irrevocable note in the near future.

The present scenario is such that maritime accidents are rising owing to skippers being incessantly negligent. Bad weather conditions are there to add to the disaster. As such, protective equipment like marine rafts are the need of the hour. The applications of rafts include evacuation of crew members and passengers, thereby rendering themselves indispensable in any modernized cruise ship.

The rural population is expected to increasingly migrate to cities, which has compelled the officials to go for constructing man-made lakes/ponds for various recreational activities including water sports.

Marine life rafts are compliant with relevant sections pertaining to the ISAF (International Sailing Federation) offshore special regulations. The key points considered over here include design features, provision of equipment, and construction materials. The key players are mainly looking into development of ISO standard life raft specifications for bringing EU’s life raft regulations on one page and do away with confusion of any sort.

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Inflatable (flexible) marine life rafts are expected to be the trend in the near future. This could be reasoned with the fact that they are more stable. Future Market Insights has walked through these facts with future perspectives in its latest market study entitled ‘Marine Life Raft Market’. The line of expertise comprising analysts and consultants is there to execute with bottom-up approach.

What does the Report raft through?

  • The research study is based on rigid and inflatable (flexible) (single tube life raft and multi tube life raft), by capacity (less than 5 people, 5-10 people, 10-18 people, and more than 18 people), and by end-use (leisure (valise packaging and canister packaging) and commercial (canister packaging and valise packaging)).
  • With increasing deployment of the police rafts to conduct patrolling in the wake of criminal activities carried out on the water bodies like seas and rivers, the global marine life raft market is bound to grow on a grand note going forward.

Marine Life Raft Market by Category

By Product Type:

  • Rigid
  • Inflatable (Flexible)
    • Single tube life raft
    • Multi tube life raft

By Capacity:

  • Less than 5 people
  • 5 to 10 people
  • 10-18 people
  • more than 18 people

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By End use:

  • Leisure
    • Valise Packing
    • Canister Packing
  • Commercial
    • Valise Packing
    • Canister Packing

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.

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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Electric Vehicle Reducer Market Size Projected to Surge at a CAGR of 26.6% by year 2033

The Electric Vehicle Reducer Market Size is expected to increase at a CAGR of 26.6% during the forecast period. The market size is anticipated to rise from US$ 1,974.7 Million in 2023 to US$ 20,884.9 Million in 2033.

Key Takeaways from Market Study

  • Asia Pacific is expected to be the most profitable region during the forecast period, having dominated the global electric vehicle reducer market in 2021. Whereas India is showing the highest growth trajectory of 30.1% among other regions.
  • The United States dominates the North American electric vehicle reducer market with a share of9.3%. This proportion is due to rising demand for electric vehicles in the United States.
  • Concerning product type, the multi-stage type will continue to dominate the global electric car reducer market with a share of 68.4%.
  • China is the world’s largest electric vehicle market, accounting for nearly half, or 45%, of global electric vehicle sales and 1.8 million electric vehicles on road.
  • The UK government approved 200 electric buses in 2020 with the goal of making all buses totally electric by 2025, which may reduce CO2 emissions by roughly 7,400 tonnes annually.
  • MG Motors India launched the fourth edition of their Developer Programme and Grant (MGDP) as the country strives to generate 50% of its installed electricity capacity from non-fossil sources by 2030.

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The main driver fueling market expansion is the expansion of the electric car industry. Electric vehicles outperform conventional vehicles in terms of fuel economy, CO2 emissions, and maintenance, as well as the convenience of charging at home,    a smooth ride, and lower engine noise.

Governments worldwide are focusing their efforts on combating climate change. As a result, electric vehicle component manufacturers are ramping up their investment in the production of electric vehicle components, which is expected to propel the global electric vehicle reducer market.

Tax exemptions, non-monetary benefits such as new car registration and carpool lane access, increasing vehicle range, active OEM participation, providing charging infrastructure in regular areas, and other factors can all contribute to the growth of the EV reducer market trends.

Existing players are heavily focused on innovation and the development of new components and technology in order to overcome disadvantages and strengthen their positions in the global market.

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Competitive Landscape

Due to the presence of a large number of market players, the global electric vehicle reducer market is consolidated with high competition. Existing players are heavily focused on innovation and the development of new components and technology in order to overcome disadvantages and strengthen their positions in the global market. Some market participants are also investing in EV startups to expand their regional presence.

  • BorgWarner Inc.
  • Robert Bosch GmbH
  • ZF Friedrichshafen AG
  • GKN
  • GETRAG FORD Transmission GmbH
  • AVL GmbH
  • HOTA Industrial
  • Tsingshan Industry
  • Aichi Machine Industry
  • Magna International
  • SAGW
  • Zhuzhou Gear

Latest Developments in the Electric Vehicle Reducer Market

  • September 2023 – ZF Friedrichshafen AG (ZF) announced the production of its first 800V electric drive axle in Hangzhou’s Xiaoshan District. The development process was led by a local team from ZF’s Electrified Powertrain Technology division in Shanghai. ZF invested approximately $300 million in its Hangzhou manufacturing facility.
  • On August 10, BorgWarner announced that Hyundai Motor Company (HMC) had chosen its iDM146 integrated drive module (iDM) to power an additional A-Segment electric vehicle platform, with production set to begin in Q3 2024.

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Key Segments Covered in the Electric Vehicle Reducer Market Report

Product Type:

  • Single-stage Type
  • Multi-stage Type

Vehicle Type:

  • Battery Electric Vehicles (BEVs)
  • Plug-In Hybrid Electric Vehicles (PHEVs)
  • Hybrid Electric Vehicles (HEVs)
  • Fuel Cell Electric Vehicle

Sales Channel:

  • Original Equipment Manufacturer (OEM)
  • Aftermarket

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