Plug-in Hybrid Electric Vehicles (PHEV) Market: Anticipating Robust Growth with 18.5% CAGR by 2032

The global plug-in hybrid electric vehicles (PHEV) market is poised for robust growth, with a projected Compound Annual Growth Rate (CAGR) of 18.5% during the forecast period spanning from 2022 to 2032. In 2022, the market’s estimated value stood at US$ 69,720.5 Million, and it is expected to surge significantly, potentially reaching an impressive US$ 3,80,665.9 Million by the year 2032. This anticipated growth represents a substantial increase in market value compared to historical trends, as the market previously recorded a CAGR of 14.4% according to an analysis conducted by Future Market Insights.

Over the past few years, the market for plug-in hybrid electric vehicles (PHEV) has experienced phenomenal development. The industry is expanding as a result of the public’s increased focus on using environmentally friendly vehicles. promoting the population’s welfare and keeping in mind the current climatic conditions.

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The market is anticipated to continue expanding at a rapid rate as plug-in hybrid vehicles continue to gain popularity around the world, which will help PHEV sales rise overall in the future years.

Due to increasing public awareness of the fuel efficiency of hybrid electric vehicles, the PHEV industry is expected to offer opportunities for sustainable growth. Additionally, major PHEV producers are focusing on employing the current electrical infrastructure. Additionally, they are concentrating on greening the grid rather than building a completely new infrastructure to refuel cars with cleaner liquid fuels. Consequently, promoting the practicality of plug-in hybrid electric cars and assisting in boosting sales.

Key Takeaways

  • The global plug-in hybrid electric vehicles application is on the rise as it helps in minimizing fuel usage and promotes the vehicle’s cost-efficiency. The automobiles are configured to charge the internal combustion engine with the help of an electric motor and other fuel like diesel or gasoline.
  • Since the transportation sector is known for being a primary source of heightened GHGs. i.e., greenhouse gas emissions. Various policymakers are incorporating favorable regulations that will encourage the usage of electric vehicles (EVs), such as plug-in hybrid vehicles (PHEVs) in order to motivate the public to use alternative fuels, such as electricity, etc.
  • The market is actively being supported by federal and state policymakers working rigorously towards the rapid expansion of charging station infrastructure. Furthermore, the demand to decrease dependence on fossil fuels is one of the key factors contributing to the adoption of PHEVs across the globe.
  • The ongoing research and development activities are helping in bringing down the prices of electric vehicles by adopting new technologies and bringing a new type of plug-in hybrid vehicles every year are predicted to spur market growth in the forecast period of 2022-2032.

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Competitive Landscape

Various companies in the market are focusing on extending their portfolio of electrified automobiles to efficiently cater to the changing needs of the customers while simultaneously retaining their competitiveness globally.

Some of the major companies have developed new products which offer the benefits of two cars in one. These products are anticipated to offer the benefits and flexibility of both longer trips and everyday driving. The automotive functions as a hybrid car and can be charged just like other electric vehicles.

At present, the Asian continent is poised to create robust opportunities over the assessment period. In countries like India, the emergence of hybrid vehicles is attracting cost-conscious buyers. These hybrid automobiles meet stricter emission norms, while the current prices of motor fuel are soaring in the country. Hybrid vehicles may be costly in comparison to traditional petrol cars but may offer significant fuel efficiency in comparison to petrol-run cars.

The market players pay keen attention to maintaining superior quality of the products and innovation. Furthermore, they are also trying to diversify their range of manufacturing, indulging in mergers and acquisitions, and adopting organic growth strategies for a strong foothold in the global market.

Some of the key companies in the market are

  •  Renault SA
  • Nissan Motor Corporation Limited
  • Volkswagen AG
  • Honda Motor Company Limited
  • General Motors
  • Ford Motor Company
  • Daimler AG
  • Mitsubishi Heavy Industries Ltd.
  • Toyota Motor Corporation
  • BMW AG

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More Insights into the Plug-in Hybrid Electric Vehicles (PHEV) Market

The European market is anticipated to dominate the global plug-in hybrid electric vehicles (PHEV) market. The growth of the region is attributed to the rising implementation of favorable policies that are actively promoting the usage of automobiles that lower greenhouse gas emissions, thus contributing towards a greener planet. Furthermore, the European population is embracing technologically advanced HEVs. They are known for their cost and fuel efficiency, therefore facilitating the market growth of PHEVs in the region.

The rapid expansion of charging station infrastructure combined with the support of private industry and federal and state policymakers are strengthening the market size in this region. Another key driver for the regional growth includes the rising R&D activities to develop newer versions/types of plug-in hybrid electric vehicles.

Plug-in Hybrid Electric Vehicles Market by Category

By Vehicle Type, Plug-in Hybrid Electric Vehicles Market is segmented as:

  • Passenger car
  • Light Commercial Vehicle

By Technology, Plug-in Hybrid Electric Vehicles Market is segmented as:

  • Series
  • Parallel
  • Series-parallel

By Region, Plug-in Hybrid Electric Vehicles Market is segmented as:

  • North America
  • Latin America
  • Europe
  • South Asia and Pacific
  • East Asia
  • 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 Motor Market Set to Reach US$ 18.09 Billion by 2032 | Future Market Insights, Inc.

The global electric vehicle motor market is worth US$ 8.68 Billion as of now and expected to reach US$ 18.09 Billion by the year 2032 at a CAGR of 8.5% between 2022 and 2032.

Electric vehicles are being increasingly asked for due to strict government regulations regarding carbon emissions. As per the European Climate Foundation, employment, with the expansion of electric vehicles, would cross 850K by the year 2030. Thus, increasingly adopting high-performance motors in the electric vehicles is bound to take the electric vehicle motor market to a new ‘High’ in the forecast period.

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At the same time, high maintenance costs coupled with higher initial costs on the part of electric motor are bound to restrain the market going forward.

Though there are complexities involved, the electric vehicles are helpful in the long run. As renewable energy resources are depleting, electric vehicles are a good alternative. Electric vehicle motor market is an ancillary market to electric vehicles market. With exorbitant demand for electric vehicles, the electric vehicle motor market is expected to grow on an unstoppable note in the years to come. Future Market Insights has etched these findings with future perspectives in its latest market study entitled “Electric Vehicle Motor Market”.

Key Takeaways from Electric Vehicle Motor Market

  • North America holds the largest market share with the US alone contributing for more than 90%. This data, however, pertains to the year 2021. It could lose 162 BPS points by the year 2032, which would take its share to 89.7%.
  • Europe is expected to witness a CAGR of 20.1% in electric vehicle motor market in the forecast period with Germany expected to witness growth 6 times in 2032 to the year 2022. Luxury electric vehicles are expected to rule the roost.
  • Coming to the Asia-Pacific, China is expected to create a lucrative opportunity worth US$ 86.5 Bn between 2022 and 2032. The government has also started giving subsidies to facilitate the proliferation of electric vehicles.
  • AC motors holds the largest market share and the status quo will continue even in the forecast period due to stronger grip provided on the bumpy routes.

“With environmentally-friendliness being the top priority, the electric vehicle motor market is bound to grow at an astounding rate in the forecast period”, says an analyst at Future Market Insights.

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Competitive Motors

  • Mabuchi Motors, in June 2021, declared finishing 100% acquisition of Electromag SA for CHF 0.1 Mn or US$ 0.11 Mn.
  • Wolong Electric, in March 2020, did acquire small industrial motors’ business of GE for US$ 160 Mn with the objective of helping it to obtain a significant position in the market.
  • Nidec Corporation, in February 2020, tabled 2 novel traction motor systems; viz 50 kW Ni50Ex and 200 kW Ni200Ex based on original 150 kW E-Axle (100% integrated traction motor system encompassed with a reduction gearbox, an electric motor, and an inverter).
  • WEG, in October 2019, installed LV electric motor plant in Hosur (India). This new-fangled 13K square meter facility holds the capability of manufacturing 250K electric motors/year.
  • Allied Motion Technologies, in May 2019, came up with EnduraMax 75i Series, brushless DC motor comprising an all-digital integrated drive. The application areas include AGV vehicle traction/steering, rotary/linear actuators, medical patient-handling equipment, mobile HVAC blowers, pumps, and material handling systems.
  • ABB, in March 2019, floored stainless steel motors to address food and beverage plants. This motor is capable of forbearing high pressure spray with complete compatibility with the high standards.
  • TECO Westinghouse (Canada), in January 2018, announced entering into new distribution partnership with Westech Industrial for gaining access to uncharted and new markets all over Canada.

What does the Report Cover?

  • Future Market Insights offers an exclusive perspective and various real-time insights on the electric vehicle motor market in its latest study, presenting historical demand assessment of 2016 – 2021 and projections for 2022 – 2032.
  • The research study is based on product type (AC and DC), by power (up to 100 kW, 101-200 kW, and above 200 kW), and by EV type (HEV, BEV, and PHEV).

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Key Segments Covered in Electric vehicle motor Industry Analysis

By Product Type:

  • AC
  • DC

By Power:

  • Up to 100kW
  • 101-200kW
  • Above 200kW

By EV Type:

  • BEV
  • HEV
  • PHEV

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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North America Underground Mining Vehicle Market to Reach US$ 8,795.08 Million by 2033, Growing at 6% CAGR

The North America underground mining vehicle market is anticipated to attain a valuation of US$ 4,891.72 million in 2023 and is estimated to reach US$ 8,795.08 million by 2033, trailing a CAGR of 6% during the forecast period.

Rising investment in mining and industrialization, coupled with the adoption of artificial intelligence and machine learning technologies, is driving the growth of the North America underground mining vehicle market. Automation in mining vehicles offers numerous advantages such as enhanced safety, fuel efficiency, productivity, maintenance, working conditions, vehicle utilization, and reduced driver fatigue.

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A rising shift toward electrically operated vehicles in underground mining is expected to boost market growth. Diesel emissions from traditional vehicles contribute to greenhouse gases and climate change. Various commercial vehicle sectors are adopting innovative electric designs to enter the expanding market. Projections suggest that by 2030, around 58% of automobiles in the United States will be electric, driven by lower prices of minerals like lithium used in battery systems and inverter technology.

The implementation of Internet of Things (IoT) in the underground mining sector enhances productivity and offers lucrative opportunities for the North American underground mining vehicle market. IoT enables unmanned vehicles to operate autonomously, communicating with each other to optimize efficiency and reduce fuel expenses. Additionally, IoT facilitates predictive maintenance, identifying equipment servicing needs in advance. This integration of IoT in mining activities improves operational efficiency and drives market growth for underground mining vehicles.

Key Takeaways

  • The United States underground mining vehicle market is expected to grow with a CAGR of 6.2% during the forecast period.
  • The demand for underground mining vehicle in Canada is expected to grow with a CAGR of 6% during the forecast period.
  • By equipment type, ground support segment is projected to grow with a CAGR of 6.5% during the forecast period.
  • Mexico is expected to grow with a CAGR of 5.8% throughout the forecast period.

“The integration of the Internet of Things in the underground mining sector is expected to present new opportunities for market expansion during the forecast period,” comments an FMI analyst

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Competitive Landscape

The market for North America underground mining vehicle is highly competitive, with numerous prominent industry players making substantial investments in increasing their manufacturing capabilities.

The key industry players Caterpillar Inc., Sandvik AB, Epiroc AB, Komatsu Ltd., Boart Longyear Ltd., Hitachi Construction Machinery, Hermann Paus Maschienfabrik GmbH, Timberland Equipment, Getman Corporation, Kovatera Inc., Maccaferri Inc. Liebherr Group, Sany Heavy Industry Co. Ltd., Volvo Construction Equipment, Astec Industries Inc, J.C. Bamford Excavators Ltd. (JCB), Normet, Maclean Engineering and Marketing Co., J.H. Fletcher and Co.

Some key developments in the North America underground mining vehicle market are:

  • In February 2022, Sandvik AB obtained a USD 213.3 million contract from BHP Group Ltd for underground mining equipment and automation products at the Jansen Potash project in Canada. The delivery of equipment is scheduled to commence in Q3 2023 and continue until 2026.
  • In October 2021, Komatsu Ltd. partnered with Proterra Inc. to electrify their next-generation underground mining machines. Proterra will provide its H Series battery system technology for the development of battery-electric LHDs, drills, and bolters for underground hard rock mining. This collaboration enables Komatsu to offer zero-emissions mining solutions in underground hard rock operations.
  • In September 2021, Caterpillar launched several new offerings, including a battery-electric loader, electric and diesel drive technologies, and expansions to its automation platform. The electric Cat R1700 XE Load Haul Dump (LHD) provides 100% battery-electric propulsion, while the portable Cat MEC500 Mobile Equipment Charger enables fast charging.
  • In March 2021, Liebherr unveiled the T 274, a 305-ton mining truck. The T 274 features a powerful dynamic braking system of 4,500 kW/6,035 HP, enabling efficient operation during downhill hauls.

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More Valuable Insights Available

Future Market Insights offers an unbiased analysis of the North American underground mining vehicle market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the North American underground mining vehicle market, the market is segmented on the basis of equipment type, ownership, application and country.

Key Segments Profiled in the North America Underground Mining Vehicle Industry Survey

By Equipment Type:

  • Ground Support
    • Roof Bolter
    • Scalers
    • Shotcrete Sprayers
    • Shearers
  • Production Equipment
    • LPDT
    • LHD
    • Underground Haulers
    • Scrapers
    • Dozers
    • Mining Drills
    • Continuous Miners
    • Mining Excavators and Shovels
    • Others (Shaft Sinking Equipment, Feeder Breaker, etc.)
  • Utility Equipment
    • Scissor Lift
    • Personnel Carrier Truck
    • Boom Truck
    • Fuel Lube Trucks
    • Remixers
    • Others

By Ownership:

  • Mining Operators
  • Rental Service Provider

By Application:

  • Coal Mining
  • Metallic Mining
    • Precious Metals Mining
    • Non-Precious Metals Mining
  • Non-Metallic Minerals Mining

By Country:

  • United States
  • Canada

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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Europe Trolley Bus Market: Projected to Reach US$ 999.1 Million by 2033 | Future Market Insights, Inc.

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

Growing initiatives in the development of sustainable urban public transport are beckoning the growth of the trolley bus industry in Europe. Governments in the region are collectively embracing electromobility, which is a potent tool, that helps mitigate the environmental impacts of transportation.

Research studies, moreover, on the trolley bus system are expected to support market growth. The recent development of in-motion charging (IMC), where buses run under wire possess enough battery to manage for a time being when off-wire. Consequently, backing the original path for electromobility extension in urban regions sans overhead lines.

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The deployment of the economic model has made it feasible to assess and specify the overall lifecycle costs of trolley buses. The intensive use of trolley buses makes them more cost-efficient than diesel buses. The future growth of trolley buses is contingent on their ability to travel without battery power.

Influencing the forecast scope of trolley buses is their ability to operate without a driver. Planning is going on to introduce driverless-operated trolley buses equipped with control guidance devices. Additionally, this electrical transport is predicted to favor public urban transport. This is especially so when the release of the rail system is not economically justified.

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

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

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Keeping Abreast with the Market Ongoings: Market News

  • In March 2022, Solaris announced that it is going to deliver 15 trolley buses to Targu Jiu, Romania. This delivery came under the 7.5 million Euro deal.
  • Solaris Bus & Coach is a unit of Spain’s CAF. In November 2020, the company announced the supply of 65 hybrid and electronic buses and trolley buses to 5 Romanian cities.

Key Players in the Market

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

Trolley Bus Market by Category

By Bus Type:

  • 12 M
  • 18 M

By Application:

  • Local Commute Transportation
  • Amusement Parks
  • Auxiliary Purpose

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By Technology:

  • Pure Electric
  • Dual Powered (Electric + Battery)

Country:

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

Author

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

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

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

About Future Market Insights (FMI)

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

Contact Us:        

Nandini Singh Sawlani   

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Hybrid Vehicles Market Set to Surge: Projected to Exceed US$ 232 Billion in 2023 | Future Market Insights, Inc.

The Hybrid Vehicles Market size is estimated to surpass US$ 232 Billion in 2023 and is anticipated to hit a valuation of US$ 1.6 Trillion by 2033. The hybrid vehicles market share is predicted to thrive at an astronomical CAGR of 21.6% from 2023 to 2033.

The expansion of EV infrastructure, including charging stations, is strongly related to the growth of the hybrid vehicle industry. By allaying worries about limited electric range, the charging infrastructure develops and becomes more accessible, which increases the perceived value of hybrid vehicles. The industry is further boosted by the growth of charging networks, which encourage buyers to think about hybrid cars as a realistic choice.

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The awareness of price hikes in the future and fluctuating gasoline costs have a big influence on consumer behavior. Due to their improved fuel efficiency and decreased reliance on oil, hybrid cars provide an alternative to fossil fuels. The cost-saving potential of hybrid vehicles draws increased customer interest as gasoline costs rise, propelling industry growth.

In order to store and distribute electric power, hybrid cars rely on cutting-edge battery technology. Hybrid vehicles are now more efficient, dependable, and cost-effective because of recent advancements in battery technology, including greater power densities, longer life spans, and lower prices. By addressing issues with battery performance and lowering the overall cost of hybrid vehicles, advancements in battery technology additionally boost the market for hybrid vehicles. Additionally, hybrid vehicle battery diversity expands the market and draws in more buyers.

Key Takeaways from Hybrid Vehicles Market Report:

  • In 2018, the global market size stood at US$ 90,798.9 million.
  • The market expanded at a CAGR of 20.7% from 2018 to 2022.
  • In 2022, the global market size stood at US$ 192,712.4 million.
  • The United States captured 30.4% of global market shares in 2022.
  • India captured 22.8% of global market shares in 2022.
  • China captured 24.3% of global market shares in 2022.
  • The United Kingdom captured 22.2% of global market shares in 2022.
  • The hybrid vehicles segment captured 32.2% of global market shares in 2022.
  • The passenger cars segment acquired 27.6% of global market shares in 2022.

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Top Key Players in the Hybrid Vehicles Market:

  1. Tilley Inflatable Design & Engineering Ltd.
  2. Ford Motor Company
  3. General Motors Company
  4. Honda Motor Co. Ltd.
  5. Daimler AG
  6. Volkswagen AG
  7. Renault SAS
  8. Toyota Motor Corporation
  9. Nissan Motor Corporation
  10. Mitsubishi Motor Corporation
  11. Hyundai Motor Company
  12. Bayerische Motoren Werke AG (BMW)

Recent Developments Observed by FMI:

  • Nissan just unveiled the fourth iteration of the X-Trail. The Nissan X-Trail is scheduled to make its debut in the middle of 2023. Strong Hybrid and Mild Hybrid hybrid drivetrains are expected to be offered for Nissan’s X-Trail SUV. The car is expected to cost around INR 40 lakhs when it goes on sale.
  • The Nissan Qashqai SUV is built on the CMF-C platform, which was developed in collaboration with Renault. The Qashqai is anticipated to be powered by a 1.3L gasoline engine and a mild hybrid powertrain. The automobile is projected to cost around INR 30 lakhs when it goes on sale. Because the Qashqai is likely to go on sale after the Nissan X-Trail, we may expect to see it around late 2023 or early 2024.

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Hybrid Vehicles Market Segmentation

By Product Type:

  • Hybrid Vehicles
  • Plug-in Hybrid Vehicles

By Vehicle Type:

  • Passenger Car
  • LCV
  • HCV

By Engine Type:

  • Gasoline Electric
  • Diesel Electric

By Powertrain Configuration:

  • Parallel Hybrid
  • Series Hybrid
  • Power Split Hybrid

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia and the Pacific
  • Middle East & Africa (MEA)

 

Author

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

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

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

About Future Market Insights (FMI)

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

Contact Us:   

Nandini Singh Sawlani   

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Biopharma Plastics Industry Gains Stability and Growth Momentum as Demand Surges for Premium Polymers in Single-Use Applications

Depth filters, syringes, and containers are among the applications that benefit from Biopharma Plastics‘ increased stability. The market has grown as a result of an increased demand for using premium polymers in the manufacture of single-use biopharma plastics.

The market for biopharma plastics and polymers is anticipated to be driven by rising healthcare costs and rising health concerns. Additionally, the presence of substantial PP molding facilities and the manufacturing industry is anticipated to fuel market expansion throughout the anticipated time frame.

The market for biopharma plastics is being driven by industry players who are extensively spending in R&D to create biopharmaceutical goods that cater to all aspects of customer needs. Due to the presence of major producers of biopharma plastics including Celanese Corporation, Eastman Chemical Co., and DuPont in the region, North America dominates the market for these materials. Due mostly to the expanding governmental support and advantageous reimbursement policies for medical equipment, Europe is the second-largest shareholder in the industry.

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Key Takeaways from the Market Study

  • As of 2023, the biopharma plastics market was valued at US$ 5.42 Billion
  • From 2023 to 2033, the biopharma plastics industry is poised to grow at an 11.4% CAGR
  • By 2033, the biopharma plastics market is slated to reach a valuation of US$ 15.95 Billion
  • By polymer type, the polyvinyl chloride segment accounted for the largest share of 21.5% and is expected to continue this trend over the forecast period.
  • China is poised to yield a CAGR of 11.3% with respect to biopharma plastics in 2033

“Growing healthcare spending and increasing application of biopharma plastics are expected to radically transform the biopharma plastics market in the coming years,” comments an analyst at FMI.

Competitive Landscape

BASF SE, LyondellBasell Industries Holdings B.V., SABIC, LG chem, Toray Industries, Inc., Solvay, Dow, Inc., DuPont de Nemours, Inc., Saint-Gobain Performance Plastics, Tekni-Plex are some of the key players in the biopharma plastics industry.

The manufacturers are involved in the production of biopharma plastics in a larger capacity. Research and innovation are also conducted to launch innovative plastics for biopharmaceutical products.

Also, some of the key players are acquiring small pharmaceutical companies to increase their production capacity.

  • In September 2022 – LyondellBasell announced today that Hanwha Solutions Corporation will use the LyondellBasell Lupotech T high-pressure polyethylene technology at a new site in Yeosu, South Korea.  The Lupotech T process technology will be used for a 300 kiloton per year (KTA) vinyl acetate copolymer (EVA) line.
  • In July 2022 – DuPont celebrated the opening of its new DuPont™ Liveo™ Healthcare Solutions manufacturing facility located at the Cooper River Site in South Carolina. The new facility will expand capacity for biopharmaceutical tubing extrusion to meet increased demand from Liveo™ customers
  • In October 2021 – Tekni-Plex Healthcare has acquired precision extrusion manufacturer Johnson Plastic Group (JPG) as part of a strategy to expand the company’s patient care solutions platform. The acquisition expands Tekni-Plex Healthcare’s medical device capabilities and broadens the division’s global footprint by adding a presence in Mexico.
  • In November 2022 – Solvay, a leading supplier of advanced materials, has teamed up with French start-up Ostium in a joint project designed to enable the mechanical recycling of end-of-life single-use surgical instruments molded in glass-fiber reinforced Ixef® polyarylamide (PARA) from Solvay’s portfolio of specialty polymers

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Key Segments Covered in the Biopharma Plastics Market Survey

Biopharma Plastics Market by Polymer Type:

  • Polyethylene – PE
  • Polypropylene – PP
  • Acrylonitrile Butadiene Styrene – ABS
  • Polyethylene Terephthalate – PET
  • Polyvinyl Chloride – PVC
  • Polytetrafluoroethylene – PTFE
  • Other

Biopharma Plastics Market by Application:

  • Protective Wear
  • Container
  • Bioreactor Bags
  • Syringes
  • Depth Filter
  • Disposable Medical Connectors
  • Others

Biopharma Plastics Market by Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & 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 5,000 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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Zero Friction Coatings Market Set to Soar: Anticipated Worth US$ 1,575.59 Million by 2033 with 6% Growth Rate, Transforming the Automotive and Machinery Industries

The global zero friction coatings market size is anticipated to hold a market value of US$ 879 Million in 2023 and US$ 1,575.59 Million by 2033. The projected growth rate is nearly 6% during the forecast period from 2023 to 2033. Growth can be attributed to the fact that these coatings reduce friction and wear resulting in low fuel consumption and less heat generation. According to the European Automobile Manufacturers’ Association, 79.1 million motor vehicles were produced across the globe in 2021 which was up by 1.3% as compared to 2020. Zero friction coatings can extend the time between component maintenance and replacement, especially for machine parts that are expensive to manufacture.

Several applications in the automobile industry use wear-resistant plastic seals that require zero tolerance for failure and lifetime service confidence. Increasing demand for the product from the automotive industry across the globe for various applications including fuel pumps, automatic transmissions, oil pumps, braking systems, and others is expected to drive its demand over the forecast period. Low friction coatings can be used in extreme environments comprising high pressure, temperatures, and vacuums. These coatings can provide improved service life and performance thereby eliminating the need for wet lubricants in environments that require chemicals, heat, or clean room conditions. The products containing molybdenum disulfide (MoS2) are suitable for reinforced plastics while those free from MoS2 are suitable for non-reinforced plastics.

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Zero friction coatings are paint-like products containing submicron-sized particles of solid lubricants dispersed through resin blends and solvents. The product can be applied using conventional painting techniques such as dipping, spraying, or brushing. The thickness of the film has a considerable influence on the anti-corrosion properties, coefficient of friction, and service life of the product. Its thickness should be greater than the surface roughness of the mating surfaces.

Key Takeaways from Market Study

  • In 2022, molybdenum disulfide emerged as the dominant type segment by contributing around 50% of the revenue share.
  • The automobile & transportation was the dominating end-use segment accounting for a revenue share of more than 35% in 2022 due to the rapid growth of the automotive industry across the globe.
  • The energy end-use segment is anticipated to grow at a CAGR of 5.7% in terms of revenue by 2033.
  • In Asia Pacific, the market is projected to witness the highest CAGR of 5.8% over the predicted years.

“Properties of zero friction coatings such as vacuum & radiation resistance, dry and clean lubrication that is not affected by dust, non-flammability, and no oxidation are predicted to foster the product demand over the forecast period,” says an analyst at Future Market Insights.

Key Market Players

Major players are channelling efforts toward expanding their production capacities to strengthen their market share and cater to the growing demand. Market expansion is anticipated to be aided by the growing number of partnerships and collaborations among key players that are looking to increase their presence in the market. Key players in the zero friction coatings market are Endura Coatings; DuPont; VITRACOAT; Poeton; Bechem; ASV Multichemie Private Limited; GMM Coatings Private Limited; and IKV Tribology Ltd. Some of the recent key developments among key players are:

  • In June 2020, Poeton Industries launched the latest in a long line of ground-breaking surface treatments. The Gloucester based company has launched Apticote 480A, a new composite coating that combines the properties of nickel and fluoropolymer materials into one problem-solving solution. The new advanced coating builds on the strong Poeton history of developing innovative solutions. The treatment has been created in the Poeton Research & Development Laboratory led by Dr John Archer and builds on the success of existing nickel-polymer treatments.

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More Valuable Insights 

Future Market Insights, in its new offering, presents an unbiased analysis of the global zero friction coatings market, presenting historical analysis from 2018 to 2022 and forecast statistics for the period of 2023-2033.

The study reveals essential insights on the basis of Type (Polytetrafluoroethylene, Molybdenum Disulfide), By Application (Aerospace, Energy), & Region.

Key Market Segments Covered in the Global Zero Friction Coatings Market

By Type:

  • Polytetrafluoroethylene
  • Molybdenum Disulfide
  • Others

By Formulation:

  • Solvent-based Coatings
  • Water-based Coatings
  • Powder Coatings

By End Use:

  • Automobile & Transportation
  • Aerospace
  • General Engineering
  • Food & Healthcare
  • Energy
  • Others

Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & 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 5,000 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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Rising Environmental Concerns Drive Nanocellulose Industry Growth, Set to Replace Plastics and Conventional Cellulose: FMI Research Predicts US$ 2,725.5 million Market by 2033

The nanocellulose industry is predicted to grow at a CAGR of 18.5% over the forecast period, according to research by Future Market Insights. The industry’s estimated value is expected to increase from US$ 492.96 Million in 2023 to US$ 2,691.50 Million by 2033. The nanocellulose market size is being propelled by the growing deployment of eco-friendly materials in lieu of single-use plastics and conventional cellulose materials, propelled by climate change and growing public concerns pertaining to the planet’s health.

Additionally, the market is being significantly influenced by the nanocellulose’s biodegradable nature and sustainable manufacturing process, which holds the potential to transform everyday life into a greener way of life.

The latest research in the field of nanocellulose demonstrates that the material has immense potential to not only replace plastics but also to render Styrofoam insulation obsolete and make electric automobiles feasible.

The emerging concept of ‘active packaging’, which involves the integration of nanoparticles into polymers has been garnering significant attention lately. With the use of the ‘active packaging’ technique, the properties of packaging products can be upgraded, while solving the problem of recycling.

The food industry has been the initial application sector to utilize these new composite, bio-compatible packaging materials as the material promises excellent resistance to microbial contamination. The food industry is not just the early adopter of nanocellulose, but also a sizeable contributor to nanocellulose market, thus utilizing nanocellulose extensively.

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Key Takeaways from the Nanocellulose Market

  • Europe is projected to witness stellar growth performance over the projected term, thus the region is estimated to hold a dominant market position. Europe has been leading intensive research activities to explore the vast potential of nanocellulose materials in multitudinous fields to enlarge the scope of nanocellulose over the coming years.
  • The market in the United States is estimated to come second to Europe. Ample utilization of nanocellulose in the building and construction sector, along with huge government funds allocated to upgrade public infrastructure is expected to galvanize market growth.
  • Various growth avenues in emerging economies like India, fueled by active researchers in the country focused on developing futuristic products and established companies preoccupied with revolutionizing the food packaging industry, are anticipated to stoke upmarket development.
  • Japan, one of the most significant markets in the APAC region, is witnessing appreciable commercialization of nanocellulose. Numerous nanocellulose-based products have been developed in recent years. Many more are yet to be developed and supplement market growth over the coming years.
  • Growing concerns regarding sustainability are spurring the market in South Korea. Leading companies present in the country are actively developing and releasing eco-friendly products constituting nanocellulose.
  • Pulp and paper board industry has been a major contributor to the growth of nanocellulose market. The growing application of nanocellulose to form lightweight and white paper is pushing the market upwards.

Key Players to Leverage on Growing Eco-Consciousness Worldwide

Key players in the market are focusing on partnering, releasing new products to extend product portfolio, acquisitions, and mergers, etc. to invigorate their stand in the market. To keep themselves relevant, several companies in the market are adopting sustainable, bio-compatible, and renewable materials like nanocellulose; thus, providing major industry players ample opportunities to leverage this emerging trend and catapult their market revenues over the forecast time frame.

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The following companies provide nanocellulose in the market, as identified by FMI:

  • Anomera
  • CelluForce
  • Melodea Ltd
  • Sweetwater Energy
  • GranBio
  • Axcelon Biopolymers Corporation:
  • Stora Enso
  • Others

Nanocellulose Industry Segmentation by Category

By Product:

  • Micro fibrillated Cellulose and Nano fibrillated Cellulose
  • Cellulose Nanocrystals / Cellulose Nanofibers
  • Bacterial Cellulose
  • Others

By Application:

  • Pulp and Paper
  • Composites Manufacturing
  • Paints and Coatings
  • Electronics Sensors
  • Food and Beverage
  • Biomedical and Pharmaceuticals
  • Composites
  • 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 5,000 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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Future Market Insights Forecasts a 4.0% CAGR, Predicting a US$ 439.2 million Potassium Fluoborate Market by 2032

According to Future Market Insights (FMI), demand for potassium fluoborate is estimated to reach US$ 439.2 Million by the end of 2032. The potassium fluoborate market is expected to grow at  CAGR of 4.0% owing to consistent demand from end-use industries such as automotive, metal processing, oil & gas, and others.

Growth in the market is driven by rising demand for abrasives from the metal processing & automotive industry. Abrasives find a major role in the automotive industry, as these are used for polishing, grinding, cutting & other functions. Potassium fluoborate is water insoluble source of potassium & is used in oxygen-sensitive applications.

Potassium fluoborate is employed in a variety of industries which demands different specifications such as purity. Nano-scale particles & with more than 99% purity are utilized in crucial applications. Also, these are utilized in the production of sodium fluoborate, and ammonium fluoborate, which are further used in agrochemicals. Hence, the market has a direct impact from the growth of these end-use industries.

“Growing consumption of potassium fluoborate coupled with increasing utilization of fluxing agents, soldering agents & abrasives in different end–use industries is expected to drive the market during the projected period,” said an analyst at FMI.

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Key Takeaways from Potassium Fluoborate Market Study

  • Demand for potassium fluoborate is to witness a growth outlook of around 4.0% over the coming assessment period.
  • Metal processing & abrasives is expected to remain key applications, accounting for more than 60% of the volume consumption.
  • Abrasive is predicted to remain a key application segment and is expected to utilize potassium fluoborate at a rate of 4.9% over the forecast period.
  • Adoption of new & advanced manufacturing technologies to produce a pure form of potassium fluoborate & expansion of production capacities are expected to remain the main key trends in the market.

Competitive Landscape in Potassium Fluoborate Market

The potassium fluoborate market is a consolidated market with the presence of some dominant key market players. These players are holding more than 50% of the market share. Some of the top manufacturers included in the research study are Solvay S.A., Morita Chemical Industries, Harshil Industries, Honeywell Fine Chemicals, AMG Aluminum, Madras Fluorine Ltd., Stella Chemifa Corporation, Triveni Chemicals, Skyline Chemicals, American Elements, PARTH INDUSTRIES, Foshan Nanhai Fluoride Chemical Co. Ltd., Derivados Del Flúor (DDF) and others are the some of the manufacturers of Potassium fluoborate profiled in the full version of the report.

Some of the notable key developments in recent years include increased production capacity and the introduction of new and improved manufacturing procedures.

Manufacturers are focusing on the launch of a new product line in purity form, as well as continued research and development to expand their product portfolio. Furthermore, industrial participants are focusing on developing manufacturing units to increase the core business.

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Potassium Fluoborate Market Segmentation

By Purity:

  • Less than 99% Purity
  • 99% & above purity

By Grade:

  • Technical Grade
  • Reagent Grade

By End-use:

  • Soldering Agent
  • Metal Processing
  • Abrasives
  • Fluxing Agent

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & 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 5,000 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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Rapid Growth Projected: Global Carboxy Therapy Market Set to Surge with a CAGR of 12.4% by 2032

The global carboxy therapy market size is projected to have a high-paced CAGR of 12.4% during the forecast period. The current valuation of the carboxy therapy market is US$ 95.81 Million in 2022. The value of the carboxy therapy market is anticipated to reach a high of US$ 308.37 Million by the year 2032.

The key aspect pushing the adoption of carboxy therapy is the growing desire amongst consumers to opt for minimally invasive or plastic surgeries. Waste reduction in healthcare delivery is recognized by the World Health Organization (WHO) as a vital component of improving healthcare systems.

Moreover, technological advancements have resulted in the creation of surgical procedures that reduce waste and produce better results with fewer resources. Minimally invasive surgeries (MIS) and non-invasive treatments are two techniques that result in less waste and lower medical costs.

Furthermore, these methods assure less absence at work, which has a net beneficial influence on an economy’s production. The demand for carboxy therapy is expected to surge since minimally invasive procedures provide quicker healing, less scarring, less stress, and more patient satisfaction.

The modern concept of natural and harmonious rejuvenation is based on a comprehensive, three-dimensional, multi-layered approach that incorporates a variety of active ingredients and techniques in procedures such as skin relaxation, surface renewal, and skin tightening, depending on the needs of the individual patient.

Because the look of the skin is seen as an important aspect in wellbeing and health, the number of cosmetic operations performed globally is rapidly growing. This is expected to expand the global carboxy therapy market size.

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Treatments and solutions in the worldwide carboxy treatment market are in high demand due to the fact that they have no long-term negative effects. These therapy techniques are popular because they take very little time (15 to 30 minutes for each session) and require no down time, allowing patients to continue their daily lives without having to take any further precautions or care. This is also a boon to the burgeoning worldwide carboxy therapy business. These factors are estimated to surge the growth of the carboxy therapy market share.

Key Takeaways:

  • During the forecast period, North America is expected to account for the largest share of the global carboxy treatment market. The region’s market is expected to rise due to an increase in consumer demand for anti-aging therapies, as well as an increase in population living standards and income.
  • The Asia Pacific carboxy therapy market is predicted to develop rapidly, particularly in China, South Korea, and India, during the projected period. This is owing to anti-aging remedies, devices, and goods becoming more popular in regional nations as the geriatric population grows, increase in the number of cosmetic surgeries, and the growing popularity of anti-aging treatments, devices, and products.
  • Owing to convenience and high demand for the device for pain relief and medical aesthetics, the “tabletop” type held the greatest revenue in 2022, accounting for more than 12.6% of total revenue, and surges the adoption of carboxy therapy.
  • Increasing demand for non-invasive or minimally invasive procedures such as laser resurfacing, cosmetic injectables, and other services and growing consumer interest in improving skin texture and tone, makes the “aesthetic medicine” application type accounting for more than 12.9% in 2022, and the most preferred medicine type.

Competitive Landscape:

Owing to the existence of both international and local players, the global carboxy treatment market is fragmented. A vast number of manufacturers have a significant market share in their respective regions. Organic developments, such as product releases and approvals, are often highly adopted by key companies.

For instance, in 2020, DermaCare Institute offered enticing loyalty programs to their revered customers, to avail invasive dermatological treatments. These factors are estimated to expand the global carboxy therapy market size.

The following companies are key leaders in the global market for carboxy therapy:

  1. DTA Medical
  2. Fosun Pharmaceutical Co., Ltd.
  3. Merz Pharma GmbH & Co. KGaA
  4. Cosmo Pro Ltd.
  5. Allergan plc
  6. Carbossiterapia Italiana
  7. Beijing Jontelaser Technologies Co. Ltd.
  8. Kastner-Praxisbedarf
  9. Mezopharma
  10. MBE Medical Division
  11. Nick Fanavaran Plasma Company
  12. Alvi Prague
  13. JONTE

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Varied Uses of Carboxy Therapy in Different Industries Are Propelling the Market

Medical practitioners are using carboxy therapy procedures to treat a variety of illnesses that arise as a result of poor blood circulation, such as erectile dysfunction, Raynaud’s syndrome, alopecia, and acute arthritis.

Carboxy therapy equipment are often utilized in beauty salons for cosmetic objectives such as cellulite reduction and skin smoothing. These devices are used in beauty clinics to give cosmetic treatments such as dermal fillers or anti-aging injections that need a targeted administration of CO2 gas in certain regions.

Because these gadgets may be readily combined with other items supplied by beauty facilities, they have grown in popularity over time. All these factors are anticipated to surge service and product demand, and boost the global carboxy therapy market growth.

However, strict regulatory restrictions and safety issues related to carboxy therapy are expected to impede worldwide market growth throughout the projected period. Furthermore, the exorbitant cost of advanced carboxy therapy treatments and inadequate healthcare infrastructure in emerging countries may stifle the market expansion.

Key Segments Profiled in the Carboxy Therapy Market Survey

By Type:

  • Tabletop
  • Portable
  • Others

By Application:

  • Aesthetic Medicine
  • Dermatology
  • Gynaecology
  • Angiology
  • Orthopedics
  • Rheumatology
  • Sports Medicines
  • Others

By End User:

  • Hospitals
  • Aesthetic Clinics
  • Beauty Centers

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 5,000 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