Expanding Automotive Industry Drives Demand for Automotive Headliners, Expected to Reach US$ 30,691.5 Million by 2033 at a CAGR of 5.00%

The market for automotive headliner market is anticipated to reach a value of US$ 19,391.9 Million in 2023 and US$ 30,695.1 Million in 2033. During the projected period, the market for automotive headliner sales is anticipated to expand significantly at a CAGR of 5.0%.

The main driving causes behind industrial expansion are the increased demand for passenger cars, severe governmental requirements, or programmers who advocate the use of lightweight auto parts.

The market for automobile headliner has expanded as a result of rising consumer demand for cutting-edge, upscale interior design.

Long-term growth in demand for automotive components is anticipated to be fueled by advances in the creation of sustainable and eco-friendly materials for automotive applications and growing investments in the production of electric vehicles.

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The demand for automotive roof headliners will rise over the coming years due to improvements in autonomous vehicles, increased demand for luxury or premium cars, and the emerging trend of improving vehicle interior cabin aesthetics while optimising passenger comfort.

OEMs will rely more on auto headliner suppliers to fuel expansion as there are more chances to sell large numbers of products and to benefit from economies of scale.

The market would increase significantly if cutting-edge technology was used while taking environmental factors into consideration.

Key Takeaways from the Automotive Headliners Market

  • Passenger cars to dominate the segment with 84.3% share in global market. Automotive headliners play an important role in providing an attractive interior design for various passenger vehicles in order to attract customers in a competitive marketplace.
  • The synthetic cloth segment will dominate the material segment with share of over 23.21%. As synthetic fabrics are versatile and long-lasting, they are a popular choice for automotive interiors and among manufacturers.
  • Germany is set to grow at 6.4% by 2033 due to the favorable policies by European Union’s in implementing strict emission regulations and focusing on reducing the kerb weight of vehicles.
  • The rising mergers and collaborations as well as the expansion in headliners manufacturing facilities among eminent manufacturers in U.K would lead its market growth trajectory to 4.3% by 2033.
  • S. to dominate the revenue share with 15.3% contribution in the global markets. U.S.had witnessed high sales in sports and luxury vehicles due to growing disposable income and high availabilities.
  • India would be the most lucrative market among other regions with a growth trajectory of 5.3% by 2033. Growing vehicle manufacturing facilities and high emphasis on vehicle safety and standards shows an opportunistic prospect for Indian market.

Competitive Landscape

Key players in the automobile interior industry include Continental AG, Magna International Inc., Denso Corporation, Faurecia, Adient, and others. Due to numerous methods employed by major product manufacturers to achieve a competitive edge, such as concentrated research and development operations, new product developments, acquisitions, etc., the automotive interiors market is projected to experience rivalry in the upcoming years.

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Key Segments Covered in the Automotive Headliner Market Report

By Headliner Type:

  • Soft Top
  • Hard Top

By Material:

  • Foam-backed Cloth
  • Cotton-napped Cloth
  • Synthetic Cloth
  • Perforated Cloth

By Vehicle Type:

  • Passenger Car
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle

By Sales Channel:

  • Hard Top
  • Soft Top

Region:

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

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Latest Developments in the Automotive Headliner Market

In October 2020, Oracle Lighting unveiled the new StarLINER ColorSHIFT Fibre Optic hardtop headliner. The Gladiator JT and Warngler JL vehicle types are intended for use with the product.

In July 2019, International Automotive Components (IAC Group) disclosed plans to increase its presence in the UK. The Elmdon headliner production facility will be expanded to achieve this.

In an effort to promote the use of sustainable materials in the automobile industry, SEAT will introduce Ku-Fizz, a unique physical foam technology for vehicle headliners that lightens plastic components, at its 2nd Innovation Day in November 2020.

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Automotive Industry Propels the Automotive Wheel Rims Market, Projected to Reach US$ 82,020.5 Million by 2032 at a CAGR of 6.2%

The automotive wheel rims market demand is anticipated to exhibit opulent growth over the assessment period from 2022 to 2032 with a healthy CAGR of 6.20%. The market is expected to reach a valuation of US$ 44,944.6 Million in 2022 and is expected to surpass US$ 82,020.5 million by 2032. According to the Future Market Insights (FMI) reports, in the historical forecast period from 2016 to 2021 sales witnessed significant growth, registering a CAGR of 3.4%.

The outer edges of a wheel, or the rims, are designed to securely hold the tyre in place. The strength of wheel rims determines their capacity to support the weight of the vehicle and withstand operational forces. Among the most common materials used to make wheel rims are aluminium, alloys, steel, magnesium, and nonferrous alloys.

Alloy wheels are gradually gaining in favour due to their attractive shape and lighter weight than steel wheels. Alloy wheels absorb heat from tyres and brakes perform better than they do on steel wheels because aluminium conducts heat well. The braking mechanism of an automobile is greatly influenced by the rims of the wheels. A wheel’s rim with a larger circumference provides for greater airflow to the braking system.

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Key Takeaways

  • An increase in consumer willingness to pay has been witnessed along with surging preferences of luxury car owners for a variety of designs in rims and a considerable hike in vehicle production globally are some of the prominent reasons for bolstering the expansion of the automotive wheel rims Market across the estimation period from 2022 to 2032.
  • Weight plays a vital role in a vehicle, and it affects the handling of the vehicle. Tremendous growth is witnessed in the wheel rims industry over the years as lightweight vehicles can effectively handle tires motion. Owing to the technological advancements and latest innovations in the automotive wheel rims mark, lucrative opportunities have been created for automobile companies. As per FMI predictions, the global automotive wheel rims market will be profitable in the coming years.
  • A heightened surge in the demand for lightweight vehicles is witnessed all over the market due to increased fuel efficiency. In addition to that, a rise in consumer demand and increased spending in the automobile industry is witnessed which is anticipated to drive the automotive wheel rims market in the forthcoming years.
  • The surge in penetration of alloy wheels in mid-spec car models all over the world paired with the emergence of diamond-cut/dual-tone alloy wheels are giving consumers a large variety of options to choose from, hence, propelling the market growth. In developing countries like India, the economic variants of car models are contributing to cast a positive influence on the automotive wheel rims market over the forecast period from 2022 to 2032.
  • The requirement for lightweight component integration in vehicles is rigorously escalating due to fluctuations in the fuel economy standards. Recently the European Union has committed to reducing carbon emissions by 20% in 2022 and reducing it to the level found in 1990.
  • The need for car customization is gaining immense traction which is driving the demand for additional surface treatments such as diamond cuts and high gloss paints. Moreover, a surge in preference for specific kinds of wheels on the basis of diameter and material of a vehicle is fueling growth in the automotive wheel rims market.
  • Consumers are increasingly spending on automobiles, visually appealing wheels, and technological advancements in products which are predicted to propel the market during the forecasted period.

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Competitive Landscape

An impeccable rise in the preference of vehicle owners for more silent and environment-friendly vehicles is witnessed in the global market. Furthermore, leading market players are focusing on research and development activities by ORMs which is expected to fuel growth in the upcoming years.

Key Companies Profiled

  • TSW Alloy Wheels
  • Euromax Wheel
  • Maxion Wheels
  • Voxx Wheel
  • MHT Luxury Wheels
  • Sota Offroad
  • Status Wheels (TUFF A.T)
  • Fuel Offroad Wheels
  • Wheel Pros LLC.

More Insights into the Automotive Wheel Rims Market

The North American market is predicted to have the largest market share in the global automotive wheel rims market accounting for 25% of the total market share in 2022. It has registered a skyrocketing growth with a CAGR of 6% over the assessment period from 2022 to 2032.

Due to the rise in disposable income in the United States and Canada, there is a surge in the global market. North America is projected to provide profitable growth opportunities for the automotive wheel rims market in the coming years.

Europe is predicted to offer profitable growth opportunities in the global market since there are various well-established players in the country such as the United Kingdom and Germany. As per FMI analysis, Europe is accountable for 12% of the total market share in 2022 with a robust CAGR of 5.7% throughout the forecast period.

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Key Segments Profiled in The Automotive Wheel Rims Industry Survey

Automotive Wheel Rims Market by Product Type:

  • Wire Spoke Wheel Rims
  • Steel Disc Wheel Rims
  • Light Alloy Wheel Rims
  • Aluminium Alloy Wheel Rims
  • Magnesium Alloy Wheel Rims
  • Titanium Alloy Wheel Rims
  • Chrome Wheel Rims
  • Teflon Wheel Rims

Automotive Wheel Rims Market by Size:

  • Automotive Wheel Rims measuring 13”-20”
  • Automotive Wheel Rims measuring 21”-25”
  • Automotive Wheel Rims measuring 25”-30”

Automotive Wheel Rims Market by End User:

  • Automotive Wheel Rims for Manufacturing Industry
  • Automotive Wheel Rims for Workshops

About Us

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

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Delaware – 19713, USA
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Brush Cleaner Market is Set to Witness a CAGR of 7.4% During 2031 | Says FMI

The global  brush cleaners have progressed from old methods to the present era. The market is now acquiring more popularity than before, thanks to several new approaches invented in such art in recent decades. As a result, key market participants are concentrating their efforts on generating more inventive concepts that would aid market growth. The market is set to witness a CAGR of 7.4% during 2021-2031.

What is Driving Demand for Brush Cleaner?

Brush cleaning is a cleaning devices that is used to disinfect brushes and ensure that they are free of microorganisms. Professional artists in the electronic, fashion, and manufacturing industries are the most popular users. Brush cleaners are available in a variety of shapes and sizes. Manufacturing businesses focused on product innovation and introduced a battery-powered brush cleaning equipment to the market, which propelled the market higher.

Customers have also been attracted to the availability of smaller machines that can perform the same tasks as traditional cleaning methods while prioritizing space and convenience, as well as hand-powered agitators and compact proportions. Consumers are driven to such benefits in a fast-paced market because they want more functionalities that produce more output.

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E-commerce Trends in Brush Cleaner Likely to Augment Sales

Over the last several years, there has been a tremendous increase in demand for products such as make-up brush cleaners, heavy machine cleaners, and so on. During the forecast period, the market is expected to grow at a significant rate. Manufacturers and suppliers in the business now have the opportunity to sell their products online as a result of the evolution of the e-commerce industry.

Brush cleaner manufacturers and distributors are focusing on selling their products on a variety of e-commerce platforms and company-owned websites in order to meet the needs of a diverse group of clients throughout the world. Advertising and promoting such cleaners via various brand commercials and promotional activities on social media platforms has shown to be a successful and reasonable way of communication for businesses to promote their products.

As a result, further innovations and customization of brush cleaning products to meet the needs of consumers are expected to boost sales in the future.

Impact of COVID-19 on Brush Cleaner Market

The impact of COVID-19 on the worldwide industry was immediate. The COVID-19 pandemic had a direct influence on brush cleaner manufacturers. To prevent the virus from spreading further, governments in a number of countries imposed a shutdown. As a result of the closure of production plants and trade sanctions, the supply chain was disrupted, resulting in a negative impact on market growth.

Domestic marketplaces in several regions have also been affected by such limitations, resulting in a drop in sales. Furthermore, the pandemic had an impact on the raw material supply in production, resulting in a decline in market growth.

US and Canada Brush Cleaner Market Outlook

Brush cleaners have a lucrative industry in the United States. The United States today controls a sizable portion of the worldwide market. Due to the inclination of the regional female population for cosmetics brush cleaners that can be performed at home, including automatic cleaners, the residential sector in the region is one of the most prominent areas.

Furthermore, rising demand for energy-efficient machinery is driving the industrial sector in North America. In the United States and Canada, growing awareness of licensed energy-efficient methods spurs growth. Furthermore, the region is expected to increase rapidly due to the necessity to replace traditional methods with smart and multi-functional devices. In contrast, customers in the United States and Canada have a strong preference for high-quality cleaners.

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Europe Demand Outlook for Brush Cleaner

Europe is regarded as a divided continent since different countries in the region have served as the epicenter for diverse fashion and cultural trends. In the European market, there is a growing demand for cosmetic brush cleaners due to increased demand in the fashion industry. Furthermore, the region’s expanding industrial sector is enhancing quality and manufacturing procedures, resulting in higher-quality products.

As a result, the causes driving this rise could include changing consumer lifestyles, increased spending power, and a large income source armed with superior procedures developed in the region. Furthermore, the key market’s players are concentrating on extending their operations abroad and on developing new products.

Who are the Key Manufacturers and Suppliers of Brush Cleaner?

Some of the leading manufacturers and suppliers of brush cleaner include

  • Brush Research Manufacturing
  • Fraser Anti-Static Techniques
  • ISIDRO TORRAS
  • Koti Industrial and Technical Brushes
  • KULLEN
  • Lessmann
  • Osborn International
  • SAIT Abrasivi
  • SIT Societa Italiana Tecnospazzole
  • Tanis Brush
  • and Tribollet among others.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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Key Segments

By Type:

  • Disc Brushes
  • Roller Brushes
  • Circular Brushes
  • Lath Brushes

By End-Use Sector:

  • Residential
  • Commercial
  • Industrial

By Application:

  • Textile
  • Leather Tanning
  • Food
  • Glass
  • Fashion
  • Automotive
  • Metallurgy

By Sales Channel:

  • Online
  • Offline

By Region:

  • North America
    • US & Canada
  • Latin America
    • Brazil, Mexico, Others
  • Western Europe
    • EU5
    • Nordics
    • Benelux
  • Eastern Europe
  • Asia Pacific
    • Australia and New Zealand (ANZ)
    • Greater China
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Japan
  • Middle East and Africa
    • GCC Countries
    • Other Middle East
    • North Africa
    • South Africa
    • Other Africa

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About Future Market Insights, Inc.

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact Us:

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Lip Scrub Market – US and Canada Holds the Maximum Market Share | Says FMI

The lip scrub market is set to witness steady growth during 2021-2031, with a CAGR of around 7.1% – 7.9%. Increasing awareness regarding personal care and grooming among female as well as male consumers is a key factor driving the growth.

In addition, utilization of lip scrub is highly concentrated among the rapidly growing youth population, which in turn holds positive growth prospects for sales of lip balms in the near future.

What is Driving Demand for Lip Scrub Market?

Rising lip problems like darkening, wrinkles, splitting and chapping caused by sun damage, vitamin and mineral deficiencies, allergies and dehydration is anticipated to further propel the demand for lip scrub products. In addition, rising awareness regarding the advantages of using lips scrub products is expected to continue driving the demand.

Moreover, with the rising level of air pollution, emissions of harmful gases from automobile exhaust contain carbon monoxide, formaldehyde, benzene, sulfur dioxide, nitrogen oxides, soot, and fluctuating climatic conditions, negatively affects the skin of the lips. These factors play a vital role in expanding the scope of lip scrub products, which in turn is expected to boost the growth of the market.

However, the outbreak of COVID-19 has led to a global economic slowdown. This has led to the closure of retail stores and production operations around the world. Therefore, the decline in export-import, and trading activity in different countries around the world acted as a major restraint for the lip scrub market.

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Continuous R&D and Celebrity Endorsement is Complementing the Market Sales

Entertaining and reassuring advertisements promoting the use of lip scrub products along with endorsements by popular celebrities on TV and social media are expected to drive a boom in the sales of lip scrub products in the near future.

However, the chemicals used in lip scrub products are being seen as harmful to health, resulting in a shift towards adoption of organic lip scrub products. Hence manufacturers are introducing multi-purpose and organic lip scrub products to keep up with the growing trend.

As a result, manufacturers operating in the lip scrub products market are investing in research and development activities to meet the changing consumer demand. Different kinds of raw material like camphor, essential oil, green tea extract, vitamin E, beeswax, shea butter, aloe vera extracts, are used to develop natural and organic lip scrub products. The availability of a variety of products is expected to increase the overall demand in the coming years.

US and Canada Lip Scrub Market Outlook

The US and Canada holds the maximum market share of lip scrub during the forecast period. Many prominent players of U.S are introducing cruelty free products, also, investing in the research sector for introducing variety of skin scrub products.

Unhealthy habits like smoking cigarettes contribute to damage to the lips, leading to various problems like darkening, cracking and wrinkles. This is one of the major factors driving the demand for lip scrub products.

According to the stats provided by Centers for Disease Control and Prevention (CDC), in 2017, in the U.S., 14% of adults over the age of 18 and an estimated 34 million adults smokes cigarettes. About 15.85% of adult males and 12.2% of adult females in the country smoke cigarettes. These consumer trends are expected to expand the product scope over the forecast period.

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Europe Demand Outlook for Lip Scrub Market

The demand for lip scrubs in the European market is anticipated to increase significantly in the coming years. Moreover, rising spending by millennials on beauty and health and hygiene maintenance has increased the demand for lip scrubs and other such products.

Moreover, increasing financial independence of working women and overall increase in dispensable income are the factors that are positively influencing the growth of this product. Moreover, a significantly increasing corporate sector coupled with rising beauty consciousness is projected to further boost the growth.

Who are the Key Manufacturers and Suppliers of Lip Scrub Market?

Some of the leading manufacturers of lip scrub market include

  • Frank Body
  • Clinique
  • Tarte Cosmetics
  • Handmade Heroes Pte. Ltd.
  • e.lf.
  • Wet n Wild
  • KIKO MILANO
  • Givenchy
  • Etude House
  • Lush Cosmetics and NIVEA among others.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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Key Segments

By Product Type:

  • Matte
  • Gelatinous

By Price Range:

  • Below US$ 5
  • US$ 5- US$ 10
  • US$ 10 – US$ 15
  • US$ 15- US$ 20
  • US$ 20 and Above

By Sales Channel:

  • Modern Trade
  • Convenience Store
  • Departmental Store
  • Drug Store
  • Online Stores
  • Other Sales Channel

By Region:

  • North America
    • US & Canada
  • Latin America
    • Brazil, Mexico, Others
  • Western Europe
    • EU5
    • Nordics
    • Benelux
  • Eastern Europe
  • Asia Pacific
    • Australia and New Zealand (ANZ)
    • Greater China
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Japan
  • Middle East and Africa
    • GCC Countries
    • Other Middle East
    • North Africa
    • South Africa
    • Other Africa

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About Future Market Insights, Inc.

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact Us:

Future Market Insights Inc.
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Rise in the Usage of Smart Handheld Device Accessories is Complementing the Market Sales | Says FMI

Mobile phone plays an important and vital role in modern day to day life.  Increasing demand for smartphones as they are the effective means of communication around the globe is expected to drive the market in the forecast period. The handheld device accessories market is set to witness steady growth during 2021-2031, with a CAGR of around 4.1% – 4.9%.

What is Driving Demand for Handheld Device Accessories Market?

The increase in the demand for wireless accessories has led to the growth of the handheld device accessories market. This increase in demand is due to the change in customer preferences for listening to music on portable devices such as tablets and smartphones.

Music is easily accessible through music streaming platforms, which includes YouTube and SoundCloud. The rise in disposable income and the rise in popularity of social networking sites in urban areas has led to an increase in the demand for handheld device accessories. In addition, increase in internet penetration also boosts the online retailing platform.

Moreover, rapid advancement in technology, including bluetooth/NFC speakers, implementation of noise canceling technology, and built-in fan and light in selfie sticks are expected to provide lucrative growth opportunities in the near future.

However, the coronavirus pandemic has had a significant negative impact on sales due to the closure of the retail sector. Still, sales improved in the third quarter due to an increased focus on home experiences. During the mid-lockdown period, i.e. in May 2020, the market witnessed a sluggish growth pattern due to reduction in available products, which was a result of halted production during the lockdown period.

This effect was short-lived and companies are preparing to make a comeback with higher sales in the coming years.

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Rise in the Usage of Smart Wireless Handheld Accessories is complementing the Market Sales

With the advancement of technology, various features such as AI and IoT make way for hyper connectivity and intelligence in electronic devices. This has promoted the use of wireless handheld device accessories such as smart wearables, smart speakers, wireless headsets and earphones, and more.

Furthermore, advancements in the field of smart wireless handheld device accessories have resulted in the growth of the handheld device accessories industry. For example, the U.S. based company and world leader, Amazon launched series of Echo Show 5 display speaker with integration of AI called Alexa. Furthermore, the rising adoption of smart wearable health monitoring devices such as fitness bands, is fueling the growth of the handheld device accessories market.

US and Canada Handheld Device Accessories Market Outlook

High usage of various types of handheld accessories, innovation of various products at low rates, and presence of leading companies are the key factors of market growth in this region.

Changing lifestyle and increasing income are expected to drive the market in the forecast period. Moreover, increasing demand for smartphones in the region is driving the market for the accessories.

Europe Demand Outlook for Handheld Device Accessories Market

Europe is anticipated to hold a significant market share over the coming years. Major regional markets include the U.K, France, Germany, Italy, Spain and Poland.

The growing fitness awareness among the young population has increased the demand for sports and fitness headphones in recent times. The rise in the standalone travel trend has led to the rise in the popularity of cheap headphones among the affordable consumer group.

The changing attitude of the consumer group has also influenced the growth of the market. Women consumer groups prefer to change their phone covers frequently which, in turn, affects the overall market growth. On the other hand, the male consumer group prefers to replace other accessories like headphones and fast-chargers.

Moreover, rising internet penetration in urban as well as rural areas, fast and reliable delivery by various online portals, and replacement options are complementing the sales. Moreover, young working consumer groups with busy schedules prefer to shop online rather than offline due to easy accessibility and door-to-door service. These are the major factors driving the growth of the market over the stipulated time frame in the European market.

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Who are the Key Manufacturers and Suppliers of Handheld Device Accessories Market?

Some of the leading manufacturers of handheld device accessories market include

  • Panasonic Corporation
  • Sennheiser Electronic GmbH & Co. KG
  • Sony Corporation
  • Samsung Electronics Co.Ltd.
  • Apple Inc.
  • Bose Corporation
  • BYD Co Ltd.
  • PlantronicsInc.
  • Energizer HoldingsInc.
  • and JVC Kenwood Corporation. among others.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Key Segments

By Product Type:

  • Headphones/Earphones
  • Portable Speakers
  • Charger
  • Power Bank
  • Memory Card
  • Pop sockets
  • Protective Cases
  • Battery
  • Others

By Price Range:

  • Premium
  • Mid
  • Low

By Sales Channel:

  • Retail Outlets
  • Franchise Stores
  • Online retailers
  • Exclusive Stores
  • Electronic Stores
  • Others

By Region:

  • North America
    • US & Canada
  • Latin America
    • Brazil, Mexico, Others
  • Western Europe
    • EU5
    • Nordics
    • Benelux
  • Eastern Europe
  • Asia Pacific
    • Australia and New Zealand (ANZ)
    • Greater China
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Japan
  • Middle East and Africa
    • GCC Countries
    • Other Middle East
    • North Africa
    • South Africa
    • Other Africa

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About Future Market Insights, Inc.

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact Us:

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

Plastic Bathtub Market will Witness Growth Due to the Rapidly Changing Lifestyles of the Individual | Says FMI

The plastic bathtub market is set to witness steady growth during 2021-2031, with a CAGR of around 4.3%.

Demand for plastic bathtubs will witness growth due to the rapidly changing lifestyles of the individual and the growing demand of customers to install premium products in their residential area.

Further, the heavy influence from the western culture leads to the customer giving their bathrooms a modern look, therefore, such reasons are projected to grow the plastic bathtub sales.

Plastic Bathtub Market Forecast and CAGR

According to the latest research by Future Market Insights, the plastic bathtub market is set to witness steady growth during 2021-2031, with a CAGR of around 4.3%.

Demand for plastic bathtubs will witness growth due to the rapidly changing lifestyles of the individual and the growing demand of customers to install premium products in their residential area.

Further, the heavy influence from the western culture leads to the customer giving their bathrooms a modern look, therefore, such reasons are projected to grow the plastic bathtub sales.

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What is Driving Demand for Plastic Bathtub Market

One of the major factors driving the growth of the plastic bathtub industry includes the rise in housing construction with the development in rural areas and increasing demand for premium plumbing fixtures.

Further, the plastic bathtubs serve the purpose of relaxing the mind and body of the consumers, maybe after a physical workout or stressful day.

Additionally, a plastic bathtub allows an individual to submerge their body in cold or warm water to refresh their minds or relax the muscles respectively.

Also, plastic bathtubs turn out to be an effective option for patients suffering from arthritis, as it allows them to inflate their body and experience hydrostatic pressure blocking the gravity force on them in order to help get rid of joints pain, therefore, growing the demand for medical reasons available at home are projected to grow the sales.

Innovating and Expanding Product Portfolio Likely to Augment Plastic Bathtub Sales

Bathtub business manufacturers and players are focusing and widening their business portfolios by focusing on innovation in order to supply customers with satisfying and comforting items. Plastic bathtubs that can be mounted with a fixed surface include various innovations like the introduction of Bluetooth speakers, cup holders, lights, temperature control features, jacuzzi tubs, etc., which are likely to raise the demand and sales of the plastic bathtub.

In addition, the innovation in the use of the material has enabled the customer to purchase portable plastic bathtubs. These bathtubs come with electrical motors that can pull and blow air within 2-4 minutes and provide the customer with personal space to relax. Tubble, an Amsterdam-based company provides these portable plastic bathtubs an alternative option to other expensive bathtubs, therefore, expanding the product portfolio and creating new opportunities for the plastic bathtub industry to grow.

COVID-19 Impact on Plastic Bathtub Market

The sudden outbreak of COVID-19 had affected all the industries due to the shortfall of demand and supply and the plastic bathtub industry was no different.

Further, the regulations implemented by regional governments restricting the movement of individuals lead to the shutdown of shopping malls, commercial areas, waterparks, etc., reducing the demand and sales for plastic bathtub.

The offline segment was heavily impacted due to the restriction in movements of individuals and changing preferences of customers towards digital platforms due to the availability of various discounts, quality ensuring, and extra services added. Further, the manufacturers tend to regain the sales volume by focusing on reshaping the distribution channels and innovating the products, therefore, growing the plastic bathtub industry.

Request a Complete TOC of this Report with figures@ https://www.futuremarketinsights.com/toc/rep-gb-13842

U.S. and Canada Plastic Bathtub Market Outlook

Region-wise, North America had dominated the global plastic bathtub industry. However, the spread of the virus had impacted the demand in the market, therefore, affecting the sales.

But, the changing lifestyle patterns, growing demands for innovative and premium products for personal use are projected to lead the region with the highest sales of the plastic bathtub.

Especially, portable bathtub have a tremendous opportunity in the U.S. and Canada. Additionally, with the resuming of the construction industry in the countries, the plastic bathtub business is projected to recover in the forecast period 2021-2031. The presence of favorable government, a growing number of investments in innovation of products, and emerging players in the segment are some of the factors attributing to the growth of plastic bathtub.

Europe Demand Outlook for Plastic Bathtub Market

Europe regions consist of various factors that can help many of the developing countries to conduct business due to the presence of various ports allowing the exchange of raw materials for the production of items.

However, the countries of Europe were heavily impacted due to the spread of the virus, and also, many regulations implemented by governments had stopped the movement of products affecting the production capacity, therefore, placing boundaries for the growth rate of sales of the plastic bathtub.

Further, the manufacturers and players focus upon providing products to the customers according to their needs and in order to do so, they adopt certain strategies that help them to fuel the market share, profitability, grow the competitiveness for the other players. Such factors and the implementation of innovative strategies are likely to grow the plastic bathtub industry in the forecast period.

Who are the Key Manufacturers and Suppliers of Plastic Bathtubs

Some of the leading manufacturers and suppliers of plastic bathtubs include

  • Homefilos,
  • KOBIA Bathtub Manufacturer,
  • Korra Bath Ware Co., Ltd.,
  • Xuancheng GreenGoods Enterprise Co., Ltd.,
  • Taizhou Hanxi Trade Co., Ltd.,
  • Asia Billion Innovation Technology Limited,
  • HSIL Limited, OVE Decors,
  • TOTO LTD.,
  • Villeroy & Boch, Roca Sanitario S.A.,
  • Foshan Deltar Building Material Co., and many others.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.

The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments.

The report also maps the qualitative impact of various market factors on market segments and geographies.

Talk with our analyst and get the complete information of report now@ https://www.futuremarketinsights.com/ask-question/rep-gb-13842

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About Future Market Insights, Inc.

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact Us:

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

Demand for Metal Paint Tray Market in Residential Application is Anticipated to Boost the Market | Says FMI

The metal paint tray market is set to witness a CAGR of 6.1%-6.9% during 2021-2031. Major factors such as escalating number of smaller households escalating number of smaller household, technological advancement, increase in the income and rapid urbanization will promulgate market expansion.

Furthermore, shifting customer preferences towards new and improved kitchen and living room decor as well as protecting appliances from damage will provide a positive opportunity for metal paint tray growth across the region.

What is Driving Demand for Metal Paint Tray Market?

Growing product demand from quality minded home improvement enthusiast and professional craftsmen in the architectural industry are fueling industry expansion.Moreover, surge in the demand from the decorative paints segment along with the general industrial application will further drive the overall market growth for metal paint tray market across the region.

In addition, changing consumer aesthetics and wall designs in residential and commercial building will further increase the market share.

The outbreak of COVID-19 pandemic have significantly damaged new construction activities, which has significantly affected the mental paint tray industry. This weak demand scenario has largely affected the market due to evolving priorities of expenditure towards essential infrastructure and needs.

Further, the imposition of temporary lockdown has resulted in disruption of trade and production activities. However, the market is recovering due to government actions and stimulus contacts for various construction and associated markets.

Find a comprehensive report summary that describes the market size and forecast along with the research methodology. Sample report is available in PDF format@ https://www.futuremarketinsights.com/reports/sample/rep-gb-14003

Surge in the Demand for Metal Paint Tray in Residential Application is anticipated to boost the Market
The trending concept of nuclear family along with increasing population has contributed to the growth of residential building construction. Paints, and wall decoration are broadly used since they provide improved appearance to these structures. Changing consumer preference for eye-catching interior textures specifically in the residential sector is further expected to impact the global market growth in a positive way
US and Canada Metal Paint Tray Market Outlook

Geographically, North America is projected to dominate the significant share in the global metal paint tray market. The adoption of eco-friendly painting tray has led to a boom in the market. North America is considered to be the primary market for metal paint tray. Market demand in North America is fueled by increased investment in the construction and infrastructure sectors in the United States and Canada.Moreover, rising automotive and electronic industries in United States has resulted in increased sales of metal paint tray market.

Europe Demand Outlook for Metal Paint Tray Market

Europe is likely to witness massive growth during the forecast period due to the competitive price and ease of application of products which will fuel the growth of the metal paint tray industry. Moreover, the product helps to reduce the wastage of paint which is positively affecting the demand.In addition, industry players in the region are focused on tying up with architects and government tenders for large projects that supply products on a large scale and at affordable prices.

Who are the Key Manufacturers and Suppliers of Metal Paint Tray Market?

Key players in the metal paint tray market are

  • Wooster Brush
  • Linzer
  • HAKZEON
  • Rok
  • Zonon
  • Baoding Jubao Wire Mesh Manufacture Co.Ltd
  • Ningbo Becol Stationery & Gifts Co.Ltd.
  • ProRoller
  • Unvert
  • and Dong Guan Lucky Tin Co.Ltd.
  • among others.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Talk with our analyst and get the complete information of report now@ https://www.futuremarketinsights.com/askus/rep-gb-14003

Key Segments

By Product Application:

  • Appliances
  • Automotive
  • Industrial equipment & machinery
  • Furniture
  • Packaging
  • Others

By Sales Channel:

  • Hypermarket/Supermarket
  • Specialty Store
  • Convenience Store
  • Direct Sales
  • Online Retailing
  • Stationary Store

By Region:

  • North America
    • US & Canada
  • Latin America
    • Brazil, Mexico, Others
  • Western Europe
    • EU5
    • Nordics
    • Benelux
  • Eastern Europe
  • Asia Pacific
    • Australia and New Zealand (ANZ)
    • Greater China
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Japan
  • Middle East and Africa
    • GCC Countries
    • Other Middle East
    • North Africa
    • South Africa
    • Other Africa

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About Future Market Insights, Inc.

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact Us:

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

Kids Musical Instrument Market is Likely to Grow with the Rapid Expansion | Says FMI

The kids musical instrument market is set to witness steady growth during 2031, with a CAGR of around 3%.

Demand for kids’ musical instruments is likely to grow with the rapid expansion and adoption of social media platforms among kids, which is going to attract them towards special acquired skills.

Additionally, the advancements in technology have led to the manufacturing of compact musical instruments without compromising the output of one hence, projected to boost sales.

Kids Musical Instrument Market Forecast and CAGR

According to the latest research by Future Market Insights, the kids musical instrument market is set to witness steady growth during 2021-2031, with a CAGR of around 3%. Demand for kids’ musical instruments is likely to grow with the rapid expansion and adoption of social media platforms among kids, which is going to attract them towards special acquired skills.

Find a comprehensive report summary that describes the market size and forecast along with the research methodology. Sample report is available in PDF format@ https://www.futuremarketinsights.com/reports/sample/rep-gb-13839

Additionally, the advancements in technology have led to the manufacturing of compact musical instruments without compromising the output of one hence, projected to boost sales.

What is Driving Demand for Kids Musical Instrument Market

One of the major factors that are driving the demand of kids musical instrument is the advancements in the technology that has led to the production of compact and small parts, providing variation in sizes without affecting the purpose, sound, and effect of the instrument. The list includes piano, keyboards, guitar, wind instruments available through both online and offline platforms.

Further, the growing impact and fame of western music among the millennials and kids and the growing popularity of electronic music in the developing regions will play a major key role in sustaining the demand for kids musical instruments.

What Factors are Likely to Augment Kids Musical Instrument Sales

Digitalization is one of the major factors driving the sales of kids musical instrument industry. With the presence of bloggers and influencers on various social media, applications tend to promote and attract kids towards new technologies and acquire skills, therefore, influencing the musical instrument industry.

Get Your Comprehensive Brochure@
https://www.futuremarketinsights.com/reports/brochure/rep-gb-13839                                                                                Such platforms also allow kids to communicate with any professional artist in the musical industry irrespective of their location to conduct the one-to-one class and acquire the skill on the musical instrument. Further, the platforms also allow one to share their knowledge, experience with others and help reach solutions without harsh efforts.

COVID-19 Impact on Kids Musical Instrument Sales

The sudden outbreak of COVID-19 had affected all the industries due to the shortfall of demand and supply and the kids musical instrument industry was no different. Further, the regulations implemented by regional governments restricting the movement of individuals lead to the shutdown of shopping malls, entertainment areas, and events reducing the demand for kids musical instruments.

Additionally, the situation leads to the striking growth rate of technological advancements and a long waiting duration for the availability of logistics, which led to the growth of sustainable solutions among individuals, hindering the growth of the kids musical instrument industry.

Furthermore, the presence of various musical instruments and greater inefficiency in non-understanding of limits under the kids musical instrument industry is likely to act as a hindering factor on the growth of kids musical instrument industry.

U.S. and Canada Kids Musical Instrument Market Outlook

The countries of North America are the most lucrative market for the kids musical instrument industry. The U.S. kids musical instrument industry is set to grow in demand in the given forecast period due to the rising demands from the kids parents in the extra curriculum.

Further, the region consists of populace attracted and delighted with the advancement in technologies, therefore, the availability of compact and affordable kids musical instrument are likely to attract more customers, thus, boosting the sales in the forecast period 2021-2031.

Talk with our analyst and get the complete information of report now@ https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-13839
Europe Demand Outlook for Kids Musical Instrument

Many countries in Europe have been severely impacted by the COVID-19 crisis, which has led to a decline in economic activities. Additionally, the region consists of various suppliers who are heavily dependent upon other countries who export raw material for the production of items, and the temporary pause on the exchange had influenced the manufacturers and suppliers, therefore, influencing the sales of kids musical instruments.

However, with the presence of a high regional economy, and certain regulations railed out by the governments, the countries have accepted and adapted to the current situation and are further, planning to initiate development and manufacturing of products within the countries to supply, reliable products and services to the customers. These factors are likely to boost the demand and sales of kids musical instruments.

Who are the Key Manufacturers and Suppliers of Kids Musical Instrument

Some of the leading manufacturers and suppliers of kids musical instruments include

  • KAWAI Musical Instrument Mfg. Co. Ltd.,
  • Roland Corporation,
  • Yamaha Corporation,
  • Moridaira Musical Instrument Co., Ltd.,
  • Doremi Musical Instrument Co. Ltd.,
  • Korg Inc.,
  • Net international Corp.,
  • Suzuki & Co. Ltd.,
  • Fender Musical Corporation, Sonor,
  • Casio, Gibson Guitars & Basses,
  • Steinway,
  • C F martin,
  • Pearl,
  • Tama Drums, and many others.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.

The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.

The report also maps the qualitative impact of various market factors on market segments and geographies.

Key Segments

By Product Type:

  • Mini Fully Functional Instrument
  • Toy ( Not Fully Functional)
  • Other

By Application:

  • For Toddlers
  • For Children

By Distribution Channels:

  • Wholesalers/ Distributors
  • Independent Musical Instrument Stores
  • Online Retailers
  • Others

By Region:

  • North America
    • US & Canada
  • Latin America
    • Brazil, Mexico, Others
  • Western Europe
    • EU5
    • Nordics
    • Benelux
  • Eastern Europe
  • Asia Pacific
    • Australia and New Zealand (ANZ)
    • Greater China
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Japan
  • Middle East and Africa
    • GCC Countries
    • Other Middle East
    • North Africa
    • South Africa
    • Other Africa

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About Future Market Insights, Inc.

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact Us:

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

Felt Bobs Market is Set to Witness Steady Growth During Forecast Period by 2031 | FMI

The felt bobs market experiences varying demand outlook. Moreover, the recovering construction industry and the growing demand among customers for an aesthetic and premium look in residential sectors are likely to boost the demand for the felt bobs industry.

The felt bobs market is set to witness steady growth during 2021-2031, with a CAGR of around 4.5%.

Felt bobs market experiences varying demand outlook. Moreover, the recovering construction industry and the growing demand among customers for an aesthetic and premium look in residential sectors are likely to boost the demand for the felt bobs industry.

What is Driving Demand for Felt Bobs Market?

With the growing construction industry, the residential areas are expanding with time and thus, demand for the use of special tools in order to bring shine and enhance the life of furniture with the help of polishing the surface is projected to increase the demand for felt bobs.

The demand for coating operation of furniture in the residential sectors has been forever, therefore, evolving the felt bob industry.

Additionally, felt bobs serves the purpose of coating and providing with fine detailed and tight corners.

Wool is used in felt bobs, due to its ability to deliver a rich look to the surface polished. Further, the innovation in tools has eased the applicability of felt bobs, reducing input time without compromising the output.

Moreover, using felt bobs on the surface make it easy to clean the surface.

Find a comprehensive report summary that describes the market size and forecast along with the research methodology. Sample report is available in PDF format@  https://www.futuremarketinsights.com/reports/sample/rep-gb-13837

The application of felt bobs enhances the strength of material especially metals, therefore, sealing the surface and preventing the actions of microorganisms, and protecting from corrosion for a longer duration. Such positive factors are anticipated to grow the felt bobs industry.

Customer desires to provide Premium and Aesthetic Look to Furniture Likely to Grow Sales of Felt Bobs

Considering the developments in the construction industry under the residential areas, the need and demand to innovate the furniture industry has been growing consistently.

Further, the growing demands and economic strength of the customers require delivering fast and productive solutions in all sectors without affecting the quality of the product.

Additionally, the availability of various varnishes that are applied using felt bobs on different kinds of metal alloys on machines and furniture has created a vast growth opportunity for the felt bobs industry.

Moreover, the growing demand for an aesthetic look in every segment is favoring as an important factor for the growth of the felt bob industry.

COVID-19 Impact on Felt Bobs Sales

The Coronavirus heavily influenced all the industries including felt bob. The pandemic had hit the market through various factors such as dropping the supply chain, the shutdown of production of materials, the pause of trading between developing and developed countries, and the manufacturers and suppliers were the ones who suffered the most.

Additionally, the changing preferences led to purchasing essential products through digital platforms that affected the local business vendors, stores managers, therefore, affecting the sales of felt bobs.

U.S. and Canada Felt Bobs Market Outlook

The countries of North America are estimated to contribute maximum to the felt bobs industry owing to the rise in the number of the requirement of durable, wear-resistant, and long-lasting metal products in residential and commercial sectors.

Moreover, the presence of an adaptive mindset allows the consumers and manufacturers to shift from traditional technologies to modern technologies that help create new opportunities for all industries; therefore, growing the felt bobs industry.

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The U.S. felt bobs sales were impacted by the construction sector in 2020, as the industry faces a challenging year. However, low mortgage rates will lead a growing optimism and new opportunities in early 2022. The momentum is likely to hold ground, which will provide an impetus to a range of construction materials, including felt bobs.

Europe Demand Outlook for Felt Bobs

The presence of various prominent manufacturers and dealers of the automotive industry in the countries of Europe is likely to augment the sales of felt bobs.

Consumption of metal and metal alloys in automotive is high and thus, is the need to protect them from damage due to rain and heat. Additionally, the manufactures in Europe believe in providing the customer with satisfying and long-lasting products, thereby, growing the sale of felt bobs industry.

Many countries in Europe have been severely impacted by the COVID-19 crisis, which has led to a decline in economic activities. However, the automotive spending in the countries of Europe are likely to compensate the sales and continue to drive demand for felt bobs.

Who are the Key Manufacturers and Suppliers of Felt Bobs?

Some of the leading manufacturers and suppliers of felt bobs include

  • Spartan Felt
  • Gesswein
  • Molerado Finishing Systems
  • Walter Surface Technologies
  • Forney Industries
  • Kemet International
  • Ningbo Helian Tools Co., Ltd.
  • Swmetal.com
  • Caswell Autralia
  • Dico Products Corp
  • DISCO Corporation
  • BOKING INDUSTRY CO., LTD
  • Nangong Rolking Fet Co., Ltd.
  • Ningbo Beilum Purui Polishing Products Co., Ltd.
  • Metal Polishing Supplies UK Ltd
  • RS Components Pte Ltd among others.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.

The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments.

Request a Brochure @ https://www.futuremarketinsights.com/reports/brochure/rep-gb-13837

The report also maps the qualitative impact of various market factors on market segments and geographies.

Key Segments

By Shape:

  • Conical
  • Cylindrical

By Product Type:

  • Low Density
  • High Density

By Application:

  • Metals
  • Wooden Furniture’s
  • Jewelry
  • Others

By Distribution Channel:

  • Wholesalers/ Distributors
  • Specialty Stores
  • Independent Polishing Equipment Stores
  • Online Retailers
  • Others

By Region:

  • North America
    • US & Canada
  • Latin America
    • Brazil, Mexico, Others
  • Western Europe
    • EU5
    • Nordics
    • Benelux
  • Eastern Europe
  • Asia Pacific
    • Australia and New Zealand (ANZ)
    • Greater China
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Japan
  • The Middle East and Africa
    • GCC Countries
    • Other than the Middle East
    • North Africa
    • South Africa
    • Other Africa

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About Future Market Insights, Inc.

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact Us:

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

Golf Cart Market Demand will Exhibit a Steady 3.9% CAGR through 2032 | Future Market Insights, Inc.

The golf cart market demand is anticipated to reach a valuation of US$ 2.12 billion by 2032, according to a recent market analysis by Future Market Insights (FMI). Through 2032, the market is predicted to expand at a CAGR of 3.9%.

The need for low-speed vehicles has increased for a number of functions, including short-distance commuting in parks, commercial districts, colleges, and other locations. As a result, the golf cart market is growing.

Moreover, future infrastructure and equipment developments are likely to help the industry as the leisure and tourist sector expands. Demand for golf cart is expected to rise as utility vehicles gain more and more use outside of golf courses.

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After the pandemic, it’s expected that restrictions are lifted and market demand can return to its pre-pandemic levels. Additionally, due to its modular architecture and variety of modification options, golf carts can be modified to match the needs of final consumers, enabling the owner to run a lucrative business.

The surge in sales of golf cart in the tourism, hospitality, academic, and other sectors is predicted to hasten the rise of golf cart market share.

A variety of federal and state laws that regulate the use of golf carts take into account a number of various factors, such as road access, passenger capacity, safety, headlights, brakes, and a valid driver’s license, which can impede the golf cart market growth.

In North America and Europe, the market is far more developed. Therefore, it is projected that future innovation and technology developments in the European and American golf cart industries, such as electrification, linked mobility, and autonomy, are fueling market expansion.

Key Takeaways

  • The golf cart market is likely to have a CAGR of 3.9% during the forecast period.
  • According to the product type, the electric golf cart holds 80.34% share in 2020 for the golf cart market.
  • North America holds a significant share in the global golf cart market.
  • Based on application, the golf course industry accounted for the largest market share by 2032.
  • The value of the golf cart market is expected to be US$ 2.12 billion by 2032.
  • Europe holds the second position in the golf cart market during the forecast period.

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Competitive Landscape:

The golf cart market is projected to continue rapidly electrifying as manufacturers concentrate on creating and delivering new generation electric models with enhanced travel range and battery capacity during the projection period.

Major Market Players in the golf cart market are Club Car, LLC Yamaha Golf-Car Company, E-Z-GO, EverGreen Electrical Vehicles, Columbia ParCar Corp, Hitachi Chemical Co., Ltd, Xiamen Dalle Electric Car Co., Ltd. Company, Maini Material Movement Pvt. Ltd, Garia Luxury Golf Car, Cruise Car, Inc., Toyota Motor Corporation, Polaris Inc, Solorider, GDRIVE Golf Cart, Carrieall Car Pvt Ltd, and Volmac Engineering Pvt Ltd.

Recent Developments

  • E-Z-GO debuted the E-Z-GO Liberty in June 2021, the company’s first golf car with four forward-facing seats in a small cart.
  • The Lamborghini family and Indian EV business Kinetic Green Energy & Power Solutions announced their collaboration to produce products for the international market in October 2021.
  • The Yamaha Golf-Car Company officially became the National Golf Course Owners Association’s (“Official Golf Car Partner”) “Official Golf Car Partner” in January 2021.

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Key Segment

By Product Type:

  • Push-Pull Golf Cart
  • Gasoline Golf Cart
  • Electric Golf Cart
  • Solar Powered Golf Cart

By Operation:

  • Manual
  • Powered

By Application:

  • Golf Courses
  • Personal Use
  • Industry Use
  • Others

By Ownership:

  • Rented
  • Fully Owned

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, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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