Market Research Blog – Page 4 – New Product Development

Banana Flour Market Set for Robust Growth: From USD 628.7 Million in 2024 to USD 892.8 Million by 2034, with a 3.6% CAGR

The banana flour market demand is anticipated to reach a valuation of US$ 628.7 million in 2024. The industry is projected to be worth US$ 892.8 million by 2034, rising at a CAGR of 3.6% between 2024 and 2034. The market is on an upward trajectory, primarily fueled by its versatile applications and the escalating consumer demand for gluten-free alternatives. This surge in popularity aligns with the overarching trend of health-conscious choices, prompting a shift towards minimally processed and nutrient-rich options.

Consumers are increasingly drawn to banana flour due to its nutrient-rich composition and the presence of resistant starch, aligning seamlessly with prevailing health and wellness trends. As the market embraces these health-centric inclinations, banana flour is a valuable ingredient with applications beyond traditional uses. Its versatility shines through in various culinary creations, ranging from gluten-free baking to enriching smoothies, widening its appeal and driving market growth.

Competition within the market is fierce, marked by players emphasizing crucial factors such as product quality, responsible sourcing practices, and diverse product offerings. This competitive landscape propels continuous innovation as industry players seek differentiation through unique formulations and packaging approaches. Strategic partnerships also play a pivotal role in shaping the market landscape as companies collaborate to enhance their collective presence and cater to a broader consumer base.

Key Takeaways from the Market Study:

Based on application, the food industry is expected to hold a market share of 61.3% in 2024.
China is estimated to register at a CAGR of 3.7% by 2034.
The United Kingdom experiences significant growth, projected at a CAGR of 2.5% by 2034.
Based on the source, organic banana flour is anticipated to hold a market share of 97.3% in 2024.

“The increasing consumer preference for gluten-free alternatives is a significant driver propelling the banana flour market,” – Comment by Nandini Roy Choudhury, Client Partner at Future Market Insights

Competitive Landscape:

A dynamic interplay among industry players characterizes the banana flour market competitive landscape. Companies vie for prominence by prioritizing product quality, responsible sourcing practices, and diversification of product offerings.

Continuous innovation and strategic collaborations shape the market, reflecting a concerted effort to meet evolving consumer preferences for wholesome and functional ingredients in the flourishing banana flour segment.

Some of the recent developments are:

In October 2021, the ICAR-National Research Centre for Banana (NRCB) in Trichy entered a memorandum of understanding with Cake Bee, a leading bakery in India. The collaboration aimed to explore the use of foam mat drying, an innovative and cost-effective method developed by ICAR, for producing banana powders from ripe or rejected market bananas.
In March 2021, Kokos Natural introduced NATIRÈL banana flour. Traditionally crafted from green bananas, this gluten-free substitute to wheat flour is known for its light texture, requiring 25% less volume than traditional flour.

Key Segments of Banana Flour Industry Survey:

By Process:

Sun-dried
Freeze-dried
Spray-dried
Others

By Application:

Beverages
Pet Food and Feed Industry
Household
Food Industry
Bakery & Snacks
Infant Foods
Filling and Dressings
Soups and Sauces
Others

By End-user:

Water Treatment
Food and Beverage Processing
Pharmaceutical and Medical
Automotive
Air Purification
Others

By Source:

Organic
Conventional

By Sales Channel:

Direct Sales
Indirect Sales
- Modern Trade
- Convenience Store
- Specialty Store
- E-Retailers
- Others

By Region:

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

About Future Market Insights (FMI)

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

Contact US:
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

Global Cultures Market Poised for Growth with Rising Demand for Starter Cultures in Beverage Production

The global cultures market is set to observe progress at a CAGR of 4.3% and top a valuation of USD 2.1 Bn by 2032.

Since the development of fermentation, processed and fermented food products have become an integral component of several global food traditions. Microbial culture techniques and their utilization in food fermentation processes have enabled transformation of the industry. Microbial cultures are an indispensable component of beverage industry where microbial fermentation enable production of alcoholic as well as non-alcoholic beverages.

Growing popularity of starter culture and associated challenges of viability maintenance has generated need of innovation that increase the efficiency of starter cultures. Moreover, application of microbial cultures in coffee processing and coffee being a staple drink in major world regions, is likely to increase culture utilization in coffee processing. Globalization and increasing purchase capacity has positively influenced the growth of beverage market which in turn support the culture market growth. However, stringent regulatory frameworks that regulate food processing and food additives are challenging the food culture suppliers.

Key Takeaways from Market Study

The Cultures market is anticipated to grow at CAGRs of 4.3% in forecast period which grew by 3.5% in historic period
Market share of India is around 58% in South Asia Cultures market
Recent decade has witnessed transformation of consumer preference in terms of choice, safety, quality, and affordability of food. There is a growing preference for functional foods, GMO free food, and organic or sustainable food options. Apart from growing demand of starter culture form food manufacturers, probiotic microbial cultures are among leading preferences of consumers owing to their health benefits
US cultures market is anticipated to develop at compound annual growth of about 5.1% over forecast period

“Increasing alcoholic beverage consumption, notably beer, and indispensable use of starting culture in beer production, growing demand for processed and fermented foods trends being perceived are likely to boost demand for cultures market”, says Nandini Roy Choudhury, Client Partner at Future Market Insights

Competitive Landscape

Key manufacturers of Cultures are majorly focusing on research & expansion to improve the variability, superiority, and novelty of their products. Top houses in the cultures market focus on partnership and solidification supply chains in an attempt to consolidate their position

DuPont Nutrition & Health has introduced a novel culture portfolio designed exclusively for photo-fermentation. These cultures are freeze-dried and are suitable for use in both small and large-scale industrial procedures
Hansen also introduced ten fresh new next-generation cultures to the cultures market, with the goal of introducing a cheese and yogurt-based alternative to synthetic preservatives. These cultures, which are available in free-dried pellet form, are likely to gain popularity due to the added benefit of a longer shelf life

Explore More Valuable Insights

Future Market Insights, in its new report, offers an impartial analysis of the global cultures market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.

The study offers compelling insights based on product type (starter, adjunct, probiotic, and other types) and application (beverages, sauces, dressings, and condiments, bakery & confectionery, dried processed food, sweet & savoury snacks, frozen and chilled processed food, and other applications) across seven major regions of the world.

About Future Market Insights (FMI)

Contact Us:
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

Mango Puree Market Value Reaching USD 3.56 Billion by 2034 with 7% CAGR Growth | FMI

The mango puree market is predicted to be valued at US$ 1.8 billion by 2024. The market valuation is estimated to be US$ 3.56 billion by 2034, projected at a CAGR of 7%.

The market for mango puree is expanding as customer demand for natural and healthful food products rises. Smoothies, drinks, desserts, sauces, etc., are using mango puree, which is densely becoming popular as an ingredient due to its flavor and nutritional value.

Dangers and difficulties are some of the major reasons the market faces. The effect of weather variations and climate change has become hazardous for mango production. Adverse weather conditions like hurricanes, floods, and droughts majorly impact the production of mango crops, which causes shortages and price volatility in the market.

Besides challenges, the market also sees potentialities with every passing day. Convenience food and beverage sales are growing worldwide. Ready-to-use food ingredients like mango puree are in high demand due to changing lifestyles and rising urbanization. Manufacturers can profit from this trend by providing value-added products and creating packaging formats that meet changing consumer tastes.

Key Takeaways from the Market Study

Under source type, the organic mango puree is accounted to hold a market share of 65.2% in 2024.
Germany is expected to register at a CAGR of 8.1% by 2034.
India registers significant growth, projected at a CAGR of 9.1% by 2034.
Based on end user, the beverage segment is accounted to hold a market share of 35.3% in 2024.

“The rise in consumer preference for natural and healthy food choices is one significant driver for the mango puree market,” Nandini Roy Choudhury, Client Partner at Future Market Insights.

Competitive Landscape

Important competitors in the mango puree market are present like Del Monte Foods, ITC Limited, and Kiril Mischeff. Such market players provide a large selection of mango puree products that suit different needs in food and drink.

Strong competition strengthens innovation and boosts industry standards, giving consumers access to a wide range of premium mango puree options.

Some of the key developments are:

In 2021, Kiril Mischeff, unveiled novel package designs for its line of mango puree goods. The developments were made to extend product shelf life, preserve freshness, and meet changing customer and food industry demands.
In 2021, ITC Limited introduced a high-end line of mango puree products under its well-known brand name. ITC Limited launched premium mango puree made from particular mango types using its agriculture and food processing knowledge.

Key Segments

By Source:

Organic
Conventional

By End Use:

Infant Food
Beverage
Bakery and Snacks
Ice Cream and Yoghurt
Dressings and Sauces

By Region:

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

About Future Market Insights (FMI)

Organic Oats Market to Reach USD 520.5 Million by 2033, Growing at a 6.4% CAGR

The organic oats market is predicted to double in value from US$ 281.0 million in 2023 to US$ 520.5 million by 2033, with a 6.4% CAGR.

As more people demand healthy food products, there is a great growth opportunity in the market. But there are many challenges in organic oats market as organic oats are typically more expensive than non-organic oats.

Market Opportunities

Nowadays people are becoming more health conscious so there is more demand for healthy foods and organic oats is one of the best healthy food. Organic oats are versatile ingredients used in many foods and beverage products like snacks and baked products so as the demand for this product grows, the demand for organic oats will also grow.

People are also demanding sustainable food products so it is also one of the key factors in the growth of organic oats market. There is also demand for plant-based diet products so there is much possibility for organic oats market to grow.

Key Takeaways

The organic oats sector has been witnessing a stable growing pace, with a CAGR of 6.4% from 2023 to 2033. This denotes a favourable trend and predicts a healthy future for the industry.
Projections indicate the global organic oats industry will likely develop and achieve a US $520.5 million revenue by 2033. This indicates a growing need for organic oats and the exciting possibilities that lay ahead in the sector.
In 2022, the United States appeared as the predecessor in the organic oats market, collecting a large market of 24.6%. This emphasises the dominating position and substantial presence of the United States in the sector.
Germany showed a substantial increase in the global organic oats market in 2022, gaining a market value of 9.6%. This suggests an increasing interest and greater engagement of corporations in Germany’s organic oats industry.
Japan showed a strong increase in the organic oats market in 2022, obtaining a high market value of 3.3%. This emphasises Japan’s rising market potential and appealing prospects for organic oats.
India became a key participant in the organic oats market in 2022, gaining a remarkable market value of 7.9%. This illustrates India’s active engagement and influence within the sector.

Competitors Winning Strategies
Competitors in organic oats market are working on many strategies, like they are making new products and giving a variety of options for customers to choose what product they want. They are making new flavours also to get different and better tastes in their products.

They are marketing their products online as they get a wider range of customers and advertising on e-commerce platforms to get new customers. They are making attractive packaging for their products and highlighting the product’s benefits to attract customers.

Recent Developments:

Nature’s Path, a major organic food brand, recently revealed the debut of a new range of organic oat-based goods, includes oat milk, oat yogurt, and oat granola.
General Mills, another significant participant in the organic food sector, has developed a new range of naturally grown oats with its Cheerios brand.
Hain Celestial Group has purchased Oatly, a Swedish firm recognised for its well-known range of organic oat milk items.

Market Segmentation for Organic Oats

By Application:

Bakery Products
Breakfast Cereals
Savory & Snacks
Others (Cosmetics, Animal Feed, and others)

By Product Type:

Rolled Oats
Steel Cut Oats
Oats Bran
Oats Flour

By Distribution Channel:

Supermarket/ Hypermarket
Online Retail
Convenience Stores
Others (Small Retail Formats)

Regions:

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

About Future Market Insights (FMI)

Global Organic Cheese Market Set for 7.1% CAGR Growth, Driven by Rising Demand for Organic Dairy Products

Global cheese consumption is on the rise, fueled by an expanding variety of cheese options and increasing demand for organic dairy products. As a result, the organic cheese market is poised for significant growth, with a promising CAGR of 7.1%. With over half of the world’s cheese production originating from the European Union, and countries like the United States and New Zealand exhibiting high demand, the market value is forecasted to surge from a modest US$ 8,452.30 million in 2024 to an impressive US$ 16,832.50 million by 2034, ushering in a wave of savory indulgence.

The experts at FMI have revealed that there is an unprecedented surge in the demand for organic cheese owing to its diversity of taste and health benefits, coupled with benefits like strengthening bones and teeth. Additionally, the manufacturers in the organic cheese market are keeping a tap on consumer preferences and innovating the product range as per the need of the consumers, and further expanding the market.

FMI has analyzed that natural cheeses are not permitted to contain certain ingredients, even if organic cheese is prepared using the same methods as regular cheese. Organic cheese is produced using the same techniques as regular cheese. It is challenging because of the use of things like genetically modified organisms (GMO) or chemicals like colorants, flavor enhancers, or stabilizers.

Key Takeaways from the Market Study

Concerns about the use of antibiotics and hormones, animal health, and the environmental implications of farming are causing consumers in the United States to switch from conventional to organic cheese.
The growing socioeconomic level and altered consumer behavior in China are the main causes of the increase in the consumption of organic cheese.
Australian processed cheese sales are predicted to decline by 4%, while organic unprocessed cheese sales will increase by 2%. Within the cheese sector
The market for continental organic cheese is anticipated to be impacted by increased exposure to novel and foreign dietary options.
Online firms are concentrating on millennial consumers while modern commerce works on stocking more varieties of organic cheese in order to keep a solid market share.

“Demand for organic cheese will rise as a result of the growing desire of a sizable portion of the population to follow a healthy diet coupled with tremendous growth opportunities for manufacturers due to the rising plethora of applications in the coming years.” says Nandini Roy Choudhury, Client Partner at Future Market Insights

Competitive Landscape

A number of organic cheese firms are concentrating on enhancing and expanding their core business through the launch of additional products in order to keep up with conventional cheese sales. Two other areas in which producers are concentrating their efforts are the addition of new flavors to cream cheese and the creation of organic cheese snack packs.

Customers are increasingly favoring organic items, especially among millennials who are concerned about their health and the environment. They make moral choices regarding what they eat and drink as well as other matters like waste, packaging, and energy.

White Wave Foods Company, Eden Foods, Inc., The Lactalis Group, The Kroger Co., Organic Vallet, and Purity Foods Inc. are some of the key players in the organic cheese market.

Recent Developments

In August 2020, Glanbia finished obtaining Foodarom (Germany). The obtaining reinforced Glanbia’s capacity in the space of flavors and nourishing arrangements.
In 2020, Land O’Lakes fostered a natural cheese powder formed utilizing various sorts of cheeses like American, Parmesan, Blue, and Swiss cheese.

Organic Cheese Market by Segments

By Product Type, the Organic Cheese Market is Segmented as:

Cheddar
Hard Continental
Soft Continental
Territorials Ex.Blue
Others

By Distribution Channel, Organic Cheese Market is Segmented as:

Speciality Stores
Modern Trade
Convenience Stores
Traditional Grocery Stores
Online store
Other Distribution Channel

By Form, Organic Cheese Market is Segmented as:

Cubes & Blocks
Slices
Spreadable
Other Forms

By Region, Organic Cheese Market is Segmented as:

North America
Latin America
Europe
East Asia
South Asia
Oceania
MEA

About Future Market Insights (FMI)

Car Rental Service Market Set to Double by 2033: Projected 7.2% CAGR Growth and USD 307.5 Billion Valuation

The global car rental service market is anticipated to reach a value of US$ 307.5 billion by 2033, driven by a robust CAGR of 7.2% from 2023 to 2033. In 2023, the market is projected to achieve approximately US$ 153.4 billion. This growth is largely fueled by an increase in both business and leisure travel, which is boosting demand for car rental services during the forecast period.

The market is notably affected by innovations such as opaque renting, a booking platform where customers bid for travel-related products or services without knowing the brand in advance. The brand is revealed only after the purchase is completed. This model helps car rental businesses optimize their fleet usage and is anticipated to significantly influence the car rental services market. Technological advancements in mobile capabilities and web-based media support the growth of opaque renting, thereby boosting the overall car rental market. Additionally, the widespread internet access in both developed and developing nations has allowed companies to broaden their customer base through mobile apps. The introduction of subscription models by various market players is also expected to drive market growth.

Rapid advancements in technology are anticipated to be an essential factor aiding the expansion of the market size. Technologically-empowered web-based solutions like online sales and booking channels enable consumers to rent a car at their convenience and ease. Technological advancements in this sector have improved customer and corporate information management and enabled hassle-free internet bookings.

These considerations will supplement the growth of the car rental market. Again, the heightened dependency of consumers on smartphones for carrying out myriad tasks- tasks that were conventionally done by computers- has altered the car rental experience for consumers. This is because swift technological progress has helped enterprises in this sector to introduce various applications that will ensure a smooth booking process for consumers which, in turn, drives global market growth.

Key Takeaways:

Sharp rises in fuel prices will likely serve as an impediment to the global car rental services market.
Favorable government initiatives like the implementation of policies regarding the reduction of carbon emissions will likely strengthen market prospects.
The car rental market in the US will be driven by the presence of market leaders like The Hertz Corporation.
China’s car rental market will dominate the East Asia region with East Asia registering a CAGR of 10.8% from 2023 to 2033.
By car type, the economy cars segment will dominate the international marketplace.
Based on end-users, the on-airport segment will account for over 40% of the market share.

Competitive Landscape

Enterprise Holding Inc., The Hertz Corporation, Localiza-Rent A Car, Sixt SE, and Avis Budget Group, among others, are a few of the significant players in the car rental market profiled in the full version of the report.

In a competitive market, key players are keen on capitalizing on ongoing technological advancements. These organizations make use of web and mobile-based advancements to attract a wider consumer base. Strategic service offerings, mergers, and acquisitions are also employed by these participants to gain a competitive edge. For instance, Localiza Rent A Car SA merged with Car Rental Systems in 2020 to meet strategic guidelines for simplification and administrative and financial rationalization.

Car Rental Services Market by Category

By Car Type:

Economy Cars
Compact Cars
Intermediate Cars
Premium Cars
Luxury Cars
Others

By End Use:

Intercity
Intracity
On-Airport
Others

By Booking Mode:

Offline Access
Mobile Application
Other Internet Access

By Sector:

Organized
Unorganized

By Region:

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

About Future Market Insights (FMI)

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

Contact Us:

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

Global Aerial Work Platforms Market Projected to Hit USD 19.43 Billion by 2033, Growing at 6.1% CAGR | FMI Reports

Future Market Insights projects that the global aerial work platforms market will reach approximately USD 19.43 billion by 2033, reflecting a compound annual growth rate (CAGR) of 6.1%. This marks a significant increase from the projected USD 10.75 billion in 2023.

Aerial work platforms—commonly known as mobile elevating work platforms, cherry pickers, and aerial lifts—are increasingly replacing traditional scaffolding and ladders due to their enhanced flexibility and mobility. Technological advancements, mechanization, and global urbanization are driving the growing demand for these versatile tools.

These platforms play a crucial role across various sectors, including manufacturing, utilities, oil and gas, and telecommunications, by facilitating safe access to elevated areas, boosting productivity, and reducing accident risks.

The construction industry’s expansion is a major factor propelling the aerial work platforms market. As construction projects rise globally, there is an increasing need for safe and efficient access to high areas such as buildings, bridges, and highways. Aerial work platforms are essential for providing secure access for workers.

Urbanization and infrastructure modernization in emerging economies further fuel market demand. Expanding cities and upgrading infrastructure make aerial work platforms indispensable for construction, maintenance, and renovation tasks. Investments in smart cities and transportation infrastructure also drive the need for these platforms.

Airports are significant users of boom and scissor lifts for activities like luggage handling, storage, and aircraft maintenance. Articulated electric boom lifts are particularly valuable in airport operations. As air travel grows and new airports are built, the demand for various types of lifts is expected to rise.

Increased focus on workplace safety is another key driver. As organizations strive to create safer working environments, aerial work platforms provide a safer alternative to traditional ladders and scaffolding. Compliance with stringent safety regulations and standards also impacts the market, with adherence being crucial for various industries.

Electric-powered aerial work platforms are gaining traction due to their eco-friendliness and cost-effectiveness compared to traditional fuel-powered models. With a global emphasis on sustainability and reducing carbon emissions, electric AWPs are anticipated to see greater adoption.

The rise in e-commerce is driving the growth of warehouse facilities, which further supports market expansion. Scissor lifts, vertical lifts, and boom lifts are widely used for material handling and transportation in warehouses. The trend towards fully automated warehouses in developed countries is also contributing to increased demand.

Finally, there is a growing need for aerial work platforms tailored to specific industry needs and specialized applications. Manufacturers are increasingly developing customized solutions to meet the unique requirements of various sectors and challenging environments.

Comprehensive Market Insights: Full Report Overview

Key Findings from the Aerial Work Platforms Market

The aerial work platforms industry in the United Kingdom is anticipated to rise, exhibiting a CAGR of 3.5% through 2033.
The United States held a 14.2% share of the global aerial work platforms industry in 2022.
With a CAGR of 7.7% over the forecast period, India is predicted to develop rapidly in the aerial work platforms industry.
In 2022, Japan had a 4.6% share of the aerial work platforms industry globally.
China’s aerial work platforms industry is expected to flourish, registering a CAGR of 7.2% over the forecast period.
Germany accounted for 5.1% of the global aerial work platforms industry in 2022.

Competitive Landscape in the Aerial Work Platforms Market

Key players are actively engaged in various strategies to maintain a competitive edge and expand their market presence. These strategies include product innovation, technological advancements, strategic partnerships and collaborations, mergers and acquisitions, and geographical expansions. Companies are focusing on developing advanced aerial work platforms with enhanced safety features, increased efficiency, and improved sustainability to cater to the growing demand for elevated work solutions across different industries.

Key Players

Terex Corporation
Haulotte Group
OSHKOSH CORPORATION
Linamar Corporation
Tadano Limited
Aichi Corporation
MEC AERIAL WORK PLATFORMS
PALFINGER AG
Manitou Group
IMER INTERNATIONAL SpA
J C BAMFORD EXCAVATORS Ltd.
Hunan Sinoboom Heavy Industry Co. Ltd.
Zhejiang Dingli Machinery Co., Ltd.

Recent Developments by Key Players

In August 2022, Zhejiang Dingli Machinery Co Ltd introduced a fresh addition to the market: the BT44RT boom lift, which runs on electric, diesel, and hybrid power. This innovative lift offers a lifting range spanning from 16 to 44 meters and boasts a maximum load capacity of 450 kg.

In October 2021, JCB India Pvt Ltd, a J.C. Bamford Excavators Limited subsidiary, unveiled a fresh lineup of electric scissor lifts. The new range includes models such as S2632E, S1930E, S3246E, and S4046E, each designed to meet specific height requirements. These machines enable working at heights of 7.71 m, 9.92 m, 11.7 m, and 13.9 m. They offer support for both scissor lifts and telescopic boom machines.

Key Segmentations

By Product Type:

Boom Lifts
- Telescopic
- Articulating
- Trailer Mounted
- Self-Propelled
Scissor Lifts
Vertical Mast Lift
- Double Mast AWP
- Single Mast AWP
Push Around and Spider Lifts

By Fuel Type:

Gas / Diesel
Electric
Hybrid

By Platform Working Height:

Below 10 Meters
10 to 20 Meters
20 to 30 Meters
Above 30 Meters

By Sales Channel:

OEM
Rental Service Providers

By End Use:

Construction
Mining
Transportation and Logistics
Manufacturing
Aerospace and Defence
Others

By Region:

North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East and Africa

About Future Market Insights (FMI)

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

Contact Us:

Global Automotive Sensors Market Projected to Hit USD 44 Billion by 2033, with an CAGR of 8.6% | FMI Reports

The global automotive sensors market is set to reach USD 19.2 billion in 2023 and is projected to grow to USD 44 billion by 2033, reflecting a compound annual growth rate (CAGR) of 8.6% over the forecast period.

This growth is driven by the rising adoption of alternative fuels and vehicles, which help lower fuel costs for consumers and enhance national energy security, thereby boosting market expansion. The increasing prevalence of alternative fuel vehicles is anticipated to further fuel market growth throughout the forecast period. Additionally, the integration of advanced systems and technologies in automobiles is expected to positively impact market development.

Modern vehicle safety systems are increasingly utilizing side airbag pressure sensors to improve passenger protection. These sensors, located in side doors, send digital crash signals to the central airbag control unit. Air pressure sensors also enhance engine efficiency by accurately controlling spark timing in both gasoline and diesel engines. Consequently, the market is likely to grow due to the expanding application of pressure sensors in both engine and safety systems.

Looking ahead, advancements in autonomous vehicle capabilities are expected to accelerate, driven by stricter regulations and safety standards. Features such as emergency brake assist and other safety technologies are becoming more prevalent, particularly in developed countries where regulations mandate features like cruise control and lane-keeping assist in all vehicles. In Europe, there is growing momentum for regulations around blind-spot monitoring.

Autonomous vehicles rely on long-range radar sensors for adaptive cruise control, medium-range radar sensors for blind-spot detection, and up to 12 ultrasonic sensors for parking assistance. As demand for autonomous driving features increases, the use of high-precision sensors is expected to rise accordingly.

Comprehensive Market Insights: Full Report Overview

Key Takeaways from the Automotive Sensors Market Report:

The United States automotive sensors market is expected to grow with a CAGR of 8.2% during the forecast period.
The demand for automotive sensors in India is expected to grow with a CAGR of 8.6% during the forecast period.
By vehicle type, passenger vehicles are projected to grow with a CAGR of 9.4% during the forecast period.
The market in China is expected to grow with a significant CAGR of 8.4% throughout the forecast period.

Competitive Landscape:

The market for automotive sensors is highly competitive, with numerous prominent industry players making substantial investments in increasing their manufacturing capabilities.

The key industry players are NXP Semiconductors N.V., TE Connectivity, Continental AG, Denso Corporation, Robert Bosch GmbH, Infineon Technologies AG, STMicroelectronics, Texas Instruments Incorporated, Allegro Microsystems, LLC, CTS Corporation, Elmos Semiconductor, Sensata Technologies.

Recent Developments:

In December 2022, Continental AG revealed its exclusive modules and sensors designed specifically for electromobility. The company showcased its Advanced Driver Assistance Systems (ADAS) integrated into the “CV3” SoC (System on Chip) family, which incorporates artificial intelligence (AI) technology from semiconductor startup Ambarella.
In November 2022, Infineon Technologies AG launched the XENSIV TLE4971 family as the newest addition to their current sensor series designed for automotive applications. These devices provide accurate magnetic current sensing by utilizing proprietary temperature and stress compensation techniques, eliminating the negative impacts of magnetic cores such as hysteresis or saturation effects.
In March 2022, CTS Corporation acquired TEWA Temperature Sensors SP. Zo.o. and its subsidiaries. This acquisition strengthens CTS’s temperature sensing platform and enhances its market presence in Europe.

Automotive Sensors Market Segmentation:

By Sensor Type:

Position Sensors
- Clutch Position Sensors
- Gear Position Sensors
- Throttle Position Sensors
- Crankshaft Position Sensors
- Steering Angle Position Sensors
- Camshaft Position Sensors
Safety Sensors
- Seat Belt Sensors
- Brake Switch Sensors
- Door Switch Sensors
- Blind Spot Detection
- Night Vision Sensors
- Light Sensors
- Parking Sensors
- Cruise Control
- Impact Sensors
- Anti-theft Sensors
Level Sensors
- Fuel Level Sensors
- Coolant Level Sensors
- Oil Level Sensors
Oxygen Sensors
Pressure Sensors
- Tire Pressure Sensors
- EGR Pressure Sensors
- Airflow Rate Sensors
Temperature Sensors
- Engine Coolant Temperature Sensors
- Rain/humidity Sensors
- Oil/Fuel Temperature Sensors
- Battery Temperature Sensors
- Air Temperature Sensors
Speed Sensors
- Wheel Speed Sensors
- Speedometer

By Vehicle Type:

Passenger Cars
- Compact
- Midsize
- Luxury
- SUVs
Light Commercial Vehicles
Heavy Commercial Vehicles

By Sales Channel:

Original Equipment Manufacturers
Original Equipment Supplier Spare Parts
Independent Aftermarket

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

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Silicon Anode Battery Market Expected to Hit USD 131.6 Billion by 2033, Boasting a 47.5% CAGR | FMI Reports

The global silicon anode battery market is projected to reach USD 2.7 billion in 2023. This growth is driven by the increasing adoption of advanced silicon anode batteries, which offer superior storage capacity and are being utilized across various industries. According to Future Market Insights (FMI), the market is expected to surge to USD 131.6 billion by 2033, reflecting an impressive compound annual growth rate (CAGR) of 47.5% from 2023 to 2033.

The high demand for silicon anode batteries in commercial and industrial sectors is primarily due to the growing need for efficient energy storage solutions. The focus on high-capacity batteries is anticipated to significantly drive market sales throughout the forecast period.

The expansion of the market is further supported by the increasing use of silicon anode batteries in sectors such as automotive and consumer electronics. In the automotive industry, the integration of sustainable and high-performance components in electric vehicles has intensified the demand for batteries with enhanced storage capabilities, contributing to the overall market growth.

Comprehensive Market Insights: Full Report Overview

Key Takeaways from the Market Study

From 2018 to 2022, the market demand expanded at a CAGR of 40.5%
Based on the application, the automotive segment to accumulate a market share of 38.5% in 2023
By capacity, the above 2500 mAh segment dominates the market with a share of 47%
North America to emerge as a promising market, capturing nearly 42.3% of the global market share in 2023
Asia Pacific to be an opportunistic market, expected to capture a CAGR of 35.7% during the forecast period.

“Growing demand in the end-use industry and technological innovation in silicon anode batteries are expected to drive the market in the forecast period. Also, the increasing demand for electric vehicles globally is projected to play a vital role in strengthening the market.” – says FMI Analyst.

Competitive Landscape

Prominent players in the silicon anode battery market are Amprius Inc, Nexion Ltd, Enovix Corporation, Enevate Corporation, Nanograf Corp, Sila Nanotechnologies Inc, Boston Power Inc, XG Sciences Inc, Eocell Inc, Nanotech Instruments Inc, Zenlab Energy Inc. among others.

Leading players operating in the global silicon anode battery market are focusing on intensive research and development for launching innovative products and services in the market.

Product innovation is the key strategy adopted by market players. Brand consciousness and aggressive marketing by top players however make it challenging for new entrants in this market.

The market players are also emphasizing offering silicon anode battery with high reliability and high performance. The market is benefiting from partnerships with a high focus on innovation.

In November 2021- Panasonic Corporation and Toyota Motor Corporation – and Nexeon, the company developing advanced silicon materials for next-generation lithium-ion batteries, have agreed to extend their funded joint development agreement (JDA). The partners will focus their work on the commercialization of e-mobility applications of lithium-ion batteries.
In May 2022 – Sila, a next-generation battery materials company, today announced the purchase of a facility with more than 600,000 square feet of space located in Moses Lake, WA to be used to manufacture Sila’s breakthrough lithium-ion anode materials at automotive volumes and quality. Powered with hydropower, the facility is located on 160 acres of land close to rail lines for convenient and efficient shipping.
In February 2021- Zenlabs Energy, an advanced lithium-ion cell company, announced that Idaho National Laboratory (INL) has successfully tested over 1,000 charge-discharge cycles from their high-energy Silicon anode pouch cells. Zenlabs is the recipient of $4.8 million, 50% cost share development contract from the United States Advanced Battery Consortium LLC (USABC) to develop low-cost, fast-charge electric vehicle (EV) batteries

Know More about What the Silicon Anode Battery Market Report Covers

Future Market Insights offers an unbiased analysis of the global silicon anode battery market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the silicon anode battery market, the market is segmented based on capacity, and application across five major regions.

Key Segments Covered in the Silicon Anode Battery Industry Analysis

By Capacity:

Below 1500 mAh
Between 1500-2500 mAh
Above 2500 mAh

By Application:

Consumer Electronic
Automotive
Industrial
Grid & Renewable Energy

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

About Future Market Insights (FMI)

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

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Automotive Battery Management System Market Projected to Hit USD 37.4 Billion by 2033, with a CAGR of 25.6% | FMI Reports

According to ESOMAR-certified Future Market Insights (FMI), the Automotive Battery Management System Market is set for remarkable growth, with a projected compound annual growth rate (CAGR) of 25.6%. The market value is expected to increase from USD 3.8 billion in 2023 to USD 37.4 billion by 2033.

This surge is primarily driven by the rising popularity of electric vehicles (EVs) in the clean transportation sector. The growing adoption of battery management systems in electric cars and e-bikes is fueling this demand.

Battery management systems are crucial for monitoring lithium-ion batteries, which are preferred for their higher energy densities and longer lifespans compared to traditional batteries. These systems are essential for electric vehicles, hybrid electric vehicles (HEVs), and electric motorcycles. The ongoing expansion of the electric vehicle market is anticipated to present significant opportunities for manufacturers of automotive battery management systems throughout the forecast period.

Comprehensive Market Insights: Full Report Overview

Key Takeaways of Automotive Battery Management System Market Study

Consumer demand across the globe is beginning to bend in favor of electric vehicles, and has strong disruption potential with governments providing purchasing incentives and subsidiaries.
With the dawn of electro-mobility and the resulting increase in EV production, automakers are offering tailored electric vehicles with modification in battery management systems.
APEJ is anticipated to remain the fastest-growing region in the automotive battery management system market during the forecast years, owing to several countries encouraging the usage of EVs. China leads the global fleet of electric vehicles.
Hybrid electric vehicles hold more than two-third of the global EV fleet. Increasing sales of HEVs are foreseen to fuel the demand for battery management systems in the future.
Electric vehicle fleet is significantly low as compared to ICE vehicles. As a result, the OEM sales channel is projected to retain its prominence throughout the forecast period.
Although centralized BMS account for a lion’s share in the global market, modular BMS are expected to witness high growth due to its superior functional benefits over its counterparts.

“In the foreseeable future, advancements in battery management systems will contribute towards extending vehicle range, while simultaneously improving battery life and safety. All major OEMs are ambitiously planning to boost electric vehicle production, which is projected to create significant opportunities for the global automotive battery management system market.” – says FMI Analyst.

Automotive Battery Management System Market: Competition Overview

The global automotive battery management system market is moderately consolidated, with a number of global as well as regional players operating in it.

Key Players Operating in Automotive Battery Management System Market Include:

Continental Ag, Dana Limited, Gentherm, Hanon Systems, Mahle Gmbh, Nxp Semiconductors, Renesas Electronics Corporation, Robert Bosch Gmbh, Valeo, Marelli Holdings Co., Ltd.

Key Segments Covered in the Automotive Battery Management System Market Report

By Vehicle Type:

Electric Vehicle
Golf Karts
Electric Bikes

By Connection Topology:

Centralized
Distributed
Modular

By Sales Channel:

Original Equipment Manufacturer (OEM)
Aftermarket

By Region:

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific excluding Japan (APEJ)
Japan
Middle East & Africa (MEA)

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: