Electric Grills Market is Likely to Cross US$ 7.17 Billion by the End of 2032 | FMI

The Electric Grills Market is likely to hold the global market at a moderate CAGR of 5.5% during the forecast period. The global market holds a forecasted revenue of US$ 4.4 Billion in 2022 and is likely to cross US$ 7.17 Billion by the end of 2032.

With an increasing frequency of outdoor recreational activities such as camping, hiking, gatherings, parties and social events, it is no surprise that individuals crave for delicious meals to supplement the environment.

As a result, grilled foods are acquiring significant traction, thereby stimulating the need to own electric grills across countries.

Based on this trend, manufacturers of culinary products are ramping up their production capabilities to introduce state-of-the-art and sophisticated electric drills since the past few years.

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Additionally, rising concerns regarding environmental sustainability have compelled consumers to adopt electric grills over charcoal ones. Electric grills can also be used indoors.

The usage of smart electric grills has witnessed major traction across the developed regions, attributed to growing consciousness about energy conservation and power saving.

Modern grills are now equipped with efficient heating technologies wherein customers not only enjoy a perfectly cooked grilled steak, but also save immensely on energy costs.

Based on these aforementioned developments, the global electric grill market is slated to expand positively, registering nearly double-digit growth across the stated forecast period.

Electric Grills Market- Competitive Landscape

The global electric grills market consists of multiple vendors, who largely concentrate on new product development, helping them acquire a competitive edge. Launching new products with technological enhancements helps attract buyers, keeping players ahead of the growth curve.

Some of the vendors profiled in this study include, but are not limited to: Midea Group, RH Peterson Co., DeLonghi SpA, Taylor Company, Weber-Stephen Products LLC, Dimplex North America Ltd., The Middleby Corp., The Coleman Company Ltd., Char Broil LLC, Koninklijke Philips N.V, Roller Grill International S.A and Breville among others.

Breville is among the most prominent players, which has doled out its smart grills series, which includes the 1800 W high sear grill with removable plates. The advantage is that the plates are dishwasher safe, thereby preventing any damage to the surface.

It also disburses heat uniformly, allowing for enhanced meat cooking.Similarly, Weber-Stephen the Weber Q 1400 Electric Grill with a removable catch pan, porcelain-enameled and cast-iron cooking grates and infinite heat control settings. The grill also has an advanced series: the Q 2400.

Electric Smokers Acquiring Major Traction, Griddles to continue enjoying Heightened Market Share

Electric smokers accounted for the largest share amongst the types of electric grills utilized, capturing three-fifths of the market share in 2018. Smokers are designed to cook meat slowly, allowing it to become tender and juicy, thus enhancing its taste. They allow the wood’s aroma to seep in, thereby imparting a good flavor.

Electric smokers are equipped with vents which help regulate the temperature according to one’s requirements. Additionally, the absence of combustible gases renders them highly safe to use, reducing the chances of accidents. Therefore, their sales are expected to burgeon in the coming years, reaching new revenue thresholds by 2029 end.

Simultaneously, electric griddles are anticipated to remain equally popular in the long-run, as it has a smooth and homogeneous surface, making it highly suitable for cooking flatbreads, pancakes and other daily consumable dishes.

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They are also highly suitable for cooking vegetarian dishes. Moreover, griddles add tell-tale grill lines, making food aesthetically appealing.Electric griddles allow users to be more precise with temperature changes and are highly suitable for residential usage, particularly in apartment buildings.

They also come in portable forms, making it easier to store when not in use. Because they have a uniform surface, the heat is distributed evenly, resulting in proper cooking.

Commercial Applications Ride the High Wave, Residential Usage Fast Catching Up

As grilled food acquires significant traction, the demand for electric grills in public dining settings such as cafeterias, restaurants and food courts is rising rapidly.

According to estimates, an 11% increase in barbeque menu items was experienced across the United States from Q4-2016 to Q4-2019.  Most of these were chicken dishes.

In this light, manufacturers are pushing up production of commercial electric drills in the past several years. For instance, Weber doled out an infinity ignition switch commercial electric grill in June 2017. The quick ignition procedure allows for quick preparation of dishes, reducing wait time for customers.

Residential usage of electric drills is surging on account of rising preference for grilled food and premium products. Nowadays, people are highly interested in honing their culinary skills, prompting them to try cooking new dishes frequently. Barbeque forms an important part of this exercise. Therefore, investments in electric grills have surged.

North America to Pivot the Global Electric Grills Market Growth

The North American market is expected to generate credible growth opportunities for electric grill market players in the long-run. According to the Hearth, Patio & Barbeque Association (HPBA), almost 30% of the consumers utilize their smokers or grills to prepare barbequed meals.

It has transitioned from a leisurely activity to a mainstream cooking exercise.

This upsurge is largely attributed to an expanding pallet and passion for flavorful and new foods.Trends look highly favorable for the Asia-Pacific region as well. With advancements in lifestyle, people are becoming fonder of street food, especially roasted and barbequed food items.

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Consumers are going beyond the conventional options of burgers, hot-dogs and pizzas, with an enhanced palate for grilled meat. Also, people are able to afford premium grilling equipment due to surging income levels. Therefore, manufacturers are scrambling to launch new devices in this region.

COVID-19’s Impact on the Electric Grill Market

The coronavirus pandemic has ushered in an era of uncertainty across the entire world. Mandatory social distancing protocols have prompted bans on outdoor social gatherings. Consequently, leisure activities such as camping and outdoor parties have stopped, leading to a decline in barbeque programs.

This has induced a downturn in electric grill sales across several regions.Several consumers have reduced their meat intake due to fears of ingesting the virus through the alimentary canal. This has slumped the demand for roasted meat products, which will continue for a significant time-period.

This reduced meat consumption will limit the uptake of electric grills for a significant time period, thereby limiting market growth prospects.However, several regions are anticipating a resurgence in electric grill sales and maintenance services, with consumers not shying away from barbequed food consumption across residential settings.

Also, the relaxation of lockdown measures are permitting resumption of economic activities, thus rebounding the market. Preference for vegetarian products is also helping in this regard. Several consumers are also relying on online platforms to purchase electric grills during the pandemic, thus keeping the market growth afloat.

Global Electric Grill Market- Key Players

  • Midea Group.
  • RH Peterson Co.
  • DeLonghi SpA
  • Taylor Company
  • Weber-Stephen Products LLC
  • Dimplex North America Ltd.
  • The Middleby Corp.
  • The Coleman Company Ltd.
  • Char Broil LLC
  • Koninklijke Philips N.V
  • Roller Grill International S.A
  • Breville

Regions and Countries Analyzed in the Report

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

Electric Grill Market- Segmental Analysis

By Type

  • Griddles
  • Smokers

By Application

  • Commercial
  • Residential

By Distribution Channel

  • Online
  • Offline

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Hydrogen Trucks Market Expected to Behold a CAGR of 41% through 2023 to 2033

According to FMI reports, the global hydrogen trucks market is expected to grow by nearly US$ 3.84 Billion by 2023. This is with a substantial and impressive CAGR of 41% expected over the forecast period, which is projected to reach over US$ 119.18 Billion by the year 2033.

Each of these factors is anticipated to have a sizable impact on the market for hydrogen trucks throughout the projected period. This is due to the fact that hydrogen trucks can completely remove all carbon dioxide and other dangerous pollutants from the atmosphere, helping to preserve the environment.

The global market is impacted by a number of variables, including environmental concerns, government initiatives for hydrogen fuel cell infrastructure, a large initial investment in infrastructure, technological breakthroughs, and future possibilities.

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The popularity of hydrogen trucks may rise as people become more aware of the negative impacts of traffic congestion, air pollution, and greenhouse gas emissions. This is because they are more environmentally friendly than other types of conventional vehicles.

Key Takeaways from the Hydrogen Trucks Market Study

  • North America dominates the market for hydrogen trucks.
  • The hydrogen trucks are expected to increase at a notable CAGR of 41%.
  • Asia Pacific region is expected to grow at the fastest rate with an increased revenue share.
  • Hydrogen fuel cell forklifts have become more popular as people increase awareness regarding environmental issues, government initiatives, and increasing concern about cost-effectiveness.

Competitive Landscape for the Hydrogen Trucks Market

Various producers and service providers occupy considerable shares of the global market, including Anglo American Platinum Ltd. and Ares Motor Works. The companies have been successful in acquiring new and long-term contracts from different countries over the years.

Cellcentric GmbH & Co. KG, Dongfeng Motor Corporation, Esoro AG, Beiqi Foton Motor, Cummins Inc., H2X Global, Hyundai Motor Company, Hyzon Motors, Jaguar Land Rover Automotive, Kenworth Trucks, Paccar, Nikola Corporation and others, the market is growing and establishing a strong global presence.

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Recent Developments in the Hydrogen Trucks Market

  • Together, Hyzon and ORTEN’s complementary product lines, as well as ORTEN’s body and powertrain kits, offer customers a complete solution for making their fleets zero-emission. Moreover, ORTEN’s management maintains extensive and permanent contact with customers throughout Germany.
  • An investment of $2.3 million will be made in the Alberta Zero-Emissions Truck Electrification Collaboration (AZTEC) project by the Jr. Minister of natural resources, Seamus O Regan.  A consortium of project partners, including the Hydrogen Technology and Energy Corporation, Bison Transport, and Canadian Energy Systems Analysis Research, led this project.

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Hydrogen Trucks Market by Category

By Product, the Hydrogen Trucks Market is Segmented as:

  • Heavy Duty trucks
  • Medium Duty Trucks
  • Small Duty Trucks

By Application, the Hydrogen Trucks Market is Segmented as:

  • Logistics
  • Municipal

By Range, the Hydrogen Trucks Market is Segmented as:

  • Above 400 Km
  • Below 400 Km

By Region, the Hydrogen Trucks Market is Segmented as:

  • North America
  • Latin America
  • Europe
  • The Middle East and Africa
  • East Asia

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Automotive Remote Diagnostics Market is expected to reach US$ 32.9 Billion by 2028 | Future Market Insights, Inc.

According to a new study of Future Market Insights (FMI), the automotive remote diagnostics market is projected to record a CAGR of nearly 18.9% through 2028. In 2022, sales in the global market for automotive remote diagnostics are anticipated to reach US$ 11.6 billion. The market size is anticipated to reach US$ 32.9 Billion by 2028.

Growth of the automotive remote diagnostics market will continue to remain bolstered by a plethora of factors, which range from increasing focus of automakers on reducing maintenance cost & downtime and growing integration of IoT, to the emergence of connected car eco-systems in vehicles.

Automotive remote diagnostic solutions have gained pervasive popularity among automakers and vehicle owners alike, in light of the value-added advantages of the technology. Reduced maintenance and service downtime, along with the identification of the bottlenecks beforehand, and enabler of on-point, efficient solutions, are some of the key benefits of the automotive remote diagnostics that are driving their demand.

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Additionally, attributes of the automotive remote diagnostics, beneficial for vehicle owners, in terms of identifying potential downturns, defects, and shortcomings of the vehicle in advance, and reducing the total time and cost spent during maintenance, are further expected to drive growth of the automotive remote diagnostics market.

The upward trend of vehicle electrification has had a massive and direct influence on growth of the automotive remote diagnostics. Additionally, recent rise in the connected-car ecosystem, along with the proliferation if IoT and connected devices in the automotive industry, will continue to favor growth of the automotive remote diagnostics market in the foreseeable future.

Automotive Remote Diagnostics Equipment to Account for Leading Market Shares

While equipment and software both form integral parts of an automotive remote diagnostics, the study finds that equipment will continue to account for leading shares of the market, owing to associated periodical replacement and maintenance activities. On the other hand, software are installed in the equipment as first fit, and are renewed on the basis of subscriptions. This further alludes high-growth potential of software solutions in the automotive remote diagnostics market.

Automotive remote diagnostics market will continue to witness robust gains from the light commercial vehicles, compared to other vehicle categories. As the logistics and transportation sector gains increased traction, vis-à-vis growth of the ecommerce and warehousing industry, light commercial vehicles are expected to record relatively greater sales compared to their past statistics. This will create significant opportunities for players in the automotive remote diagnostics market.

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Automotive remote diagnostics are expected to witness high demand in vehicle system & component access, and health tracking & diagnosis applications. These application requirements are comparatively higher in commercial vehicles, and with the rise in construction and infrastructure development activities, demand for the commercial vehicles, and in turn the automotive remote diagnostics will also rev up in the near future.

Europe to Remain Most Attractive Market for Automotive Remote Diagnostics

The study finds that Europe will continue to be the most lucrative market for automotive remote diagnostics, trailed by North America. The economic vigor and robust infrastructure development activities in the region allude at significant sales of commercial vehicles, along with passenger cars, which in turn continue to drive demand for advanced solutions such as the automotive remote diagnostics. According to the study, East Asia will also remain an attractive market for automotive remote diagnostics, with sales projected to grow at a CAGR of over 20% through 2028.

The automotive remote diagnostics market continues to remain consolidated, with leading players accounting for bulk shares of the market. Additionally, the complexity and extensive R&D investments required to provide a total solution continue to present significant entry barriers to new market entrants, which further underpins the supremacy of leading players in the automotive remote diagnostics market.

Key players operating in the automotive remote diagnostics market include Robert Bosch GmbH, Tech Mahindra Limited, Continental AG, OnStar LLC, Vector Informatik GmbH, Transics, Verizon, ACTIA Group, Softing AG, Magneti Marelli S.p.A., IBM, and Harman International, among others.

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AUTOMOTIVE REMOTE DIAGNOSTIC MARKET TAXONOMY

The global automotive remote diagnostics market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach in front of the reader.

By Product Type

  • Equipment
  • Software

By Vehicle Type

  • Passenger Cars
  • Compact
  • Mid-Sized
  • Luxury
  • SUVS
  • Light Commercial Vehicles (LCVs)
  • Heavy Commercial Vehicles (HCVs)

By Application

  • Vehicle System & Component Access
  • Vehicle Health Tracking & Diagnosis
  • Service Assistance

By Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & 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.

Contact:

Future Market Insights, Inc.
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Hybrid Vehicles Market is Anticipated to Register 21.6% CAGR through 2032 | Future Market Insights, Inc.

The global hybrid vehicles market is expected to create a lucrative growth opportunity over the estimation period from 2022 to 2032 by registering a CAGR of 21.6%. The market is anticipated to be valued at US$ 192.7 Billion in 2022 and is expected to reach a valuation of US$ 1,362.3 Billion by 2032.

According to the historical analysis ranging from 2015 to 2021, the hybrid vehicles market exhibited growth at a robust CAGR of 11.4% and is projected to accelerate during the current estimation period at a phenomenal CAGR of 21.6% throughout the forecast period. This surging year-on-year growth in 2022 is expected to bolster even further as governments from all over the world are rapidly taking initiatives to reduce carbon footprints in the transportation sector.

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The widespread adoption of luxury vehicles combined with the enforcement of severe emission-related regulations and high demand for electric vehicles are all contributing to the expansion of the hybrid vehicles market. The hybrid vehicle market is predicted to hold around 25% to 30% of the global electric vehicles market. The growing trend of plug-in hybrid vehicles is expected to push sales in the global hybrid vehicles market in the next decade.

Key Takeaways

  • The global hybrid vehicles market is witnessing fast-paced growth due to significant demand for electric mobility, increasing fuel prices, and stringent regulations framed by governments in various regions. Besides this, electric vehicles are known for their fuel efficiency and generate lesser noise than conventional vehicles. Owing to the attractive incentives and subsidies offered by government authorities in order to support sales of hybrid vehicles, their demand is expected to enhance during the forecast period.
  • Owing to the rising per capita income and disposable income across the globe, the demand for passenger cars and personal vehicles is surging with each passing day. With a surging fleet of automotive vehicles, the rate of carbon emissions is also on a rise. Due to surging fuel prices and rising awareness regarding global warming, the demand for substitute vehicles is growing at a rapid pace.
  • Hybrid vehicles are known to offer better fuel efficiency and have less carbon emission rates, and the demand for hybrid electric vehicles is surging across the globe. Several manufacturers are also paying more attention to the development and introduction of multiple models of hybrid vehicles in order to support the expansion of electro-mobility solutions.
  • A reasonable increase is witnessed in the sales of SUVs, luxury, and sports models. Customers are not just searching for performance, but they want their vehicles to be fully equipped with advanced technologies. Owing to the surging number of awareness campaigns held by government and private agencies in order to promote electric mobility, consumers all over the world are demanding electric vehicles.
  • Attributing the higher practical benefits of plug-in hybrid vehicles are responsible for their immense popularity, in comparison to hybrid and pure electric vehicles. Customers of this type of vehicle tend to suffer from low-range anxiety as the internal combustion engine acts as a backup power source when the batteries run out of charge. In addition to that, the batteries of these vehicles are able to be charged by both internal combustion engines and an external source with the help of a plug. Owing to these aforementioned factors, the demand for plug-in hybrid vehicles is increasing across the globe.

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Competitive Landscape

Over the last few years, there has been a surging number of acquisitions and growth strategies in order to increase the development & production of hybrid vehicles. Several major firms are meticulously working on innovations and new technological developments. Some of the growth strategies used by key firms include contracts & agreements, new product developments, and partnerships to strengthen their market positions.

Key Companies Profiled:

Tilley Inflatable Design & Engineering LTD, Ford Motor Company, General Motors Company, Honda Motor Co., Ltd., Daimler AG, Volkswagen AG, Renault SAS, Toyota Motor Corporation, Nissan Motor Corporation, Mitsubishi Motor Corporation, Hyundai Motor Company, Bayerische Motoren Werke AG (BMW).

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Key Segments Covered in Hybrid Vehicles Market Analysis

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

More Insights into the Hybrid Vehicles Market

The U.S. is expected to dominate the automotive market and incorporates high penetration of technologically advanced and high-cost products. The U.S. government is supporting growth in the hybrid vehicles market by investing in the construction sector since the adoption of electric vehicles increases the demand for charging infrastructure in a variety of settings, including homes, workplaces, and public places. As per FMI, the U.S. hybrid vehicles market is expected to surpass revenues worth US$ 36.5 Bn by the end of 2022.

The hybrid vehicle market in Japan is expected to be valued at about US$ 8,633.9 Mn in 2022. As per Japanese consumers, hybrid vehicles are known to be dependable, safe, and simple to use. They are also willing to pay a premium price as they believe these vehicles offer good value.

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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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Automotive Cabin Air Quality Sensors Market is expected to reach US$ 1.48 Billion by the year 2032

The global automotive cabin air quality sensors market is worth US$ 411.16 Million as of now and is expected to reach US$ 1.48 Billion by the year 2032 at a whopping CAGR of 13.8% between 2022 and 2032.

With an influx of autonomous vehicles all across, the demand for automotive cabin air quality sensors is bound to escalate in the upcoming period. The number of passenger cars plying on the road is increasing at an alarming rate, with micro digital sensors like real-time PM2.5 sensors and CMOSens technology being introduced. Plus, key market participants like Hella Senseair, Sinclair, and the government of the US are into joint ventures, so as to fuel market pertaining to automotive cabin air quality sensors. On these grounds, Volkswagen’s newly developed ‘Tiguan’ comes with anti-allergy filters as well as cabin air quality sensors, so as to curtail intrusion of the pollutants (inclusive of fungal spores and allergens).

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The consumers are also turning out to be benevolent regarding air quality, comfort, and above all – health safety. Also, the future speaks of shared mobility regarding passenger cars; which is bound to increase the sales of new cars by 30% all across China, Europe, and the US.

Paris Agreement is amongst the significant regulations that have been implemented by the United Nations, wherein concerns regarding climate change have been addressed. This certainly calls for governments imposing stern regulations regarding emission. This is where automotive cabin air quality sensors would play a vital role. Gauging quality of air would definitely send across an alert to the manufacturers to come up with measures to exercise control over unnecessary emission of these pollutants.

There are active and passive sensors. The latter ones are preferred as they are isolated to any of the outward power signals and indicators; whereas active sensors need power signals/excitation indicators for inspecting quality of air in the cabin. Aftermarket sector dominates the market as the existing vehicles need to incorporate the automotive cabin air quality sensors. Future Market Insights has scaled through these facts with future perspectives in its latest market study entitled ‘Automotive Cabin Air Quality Sensors Market’, with its team of analysts and consultants at play.

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Key Takeaways from Automotive Cabin Air Quality Sensors Market

  • North America holds the largest market share due to the US being subject to the maximum production of commercial vehicles. Plus, the logistics and construction sectors are growing by leaps and bounds.
  • Europe is expected to witness consistency in the automotive cabin air quality sensors market in the forecast period. As per the EAMA (European Automobile Manufacturers Association), over 15 Mn passenger cars get registered in the EU (European Union) every single year. Germany leads with more than 20% of the revenue generated by Europe. France and the UK stand second and third respectively.
  • The Asia-Pacific is expected to witness a remarkable growth in the automotive cabin air quality sensors market going forward. This could be credited to higher rates of industrialization, urbanization, and demographic expansion.

Competitive Landscape

  • Hella has created PM2.5 sensors, which does measure concentrations of particulate matter inside as well as outside of the car on the continuous basis. Data from cloud and BreezoMeter had been added to the data from sensor for providing information regarding extra pollutants like Ozone (O3), nitrogen dioxide (NO2), carbon monoxide (CO), and particulate matter (PM10).
  • Sensata does manufacture over 16K products and does ship more than 1 Bn units every single year. The brand names known to us include Airpax, Kixon, Wabash, DeltaTech, Schradar, Sensor-NITE, Qinex, and Dimensions.

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What does the Report Cover?

  • The research study is based on vehicle type (commercial vehicles and passenger cars).
  • With growing penetration of the passenger cars all across, the automotive cabin air quality sensors market is likely to witness an exponential transition in the forecast period.

Key Segments

By Vehicle Type:

  • Passenger Cars
  • Commercial Vehicles

By Region:

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

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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:

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Teen Room Décor Market In-Depth Analysis with Booming Trends Supporting Growth and Forecast 2033

The global teen room décor industry is anticipated to reach a market size of US$ 147 billion, with a startling double-digit CAGR of 4%.

The global teen room décor market is slated to enjoy an upward trend throughout the upcoming decade’s forecast. With the presence of a large number of retailers, consumers have a wide array of choices, leading to promising revenue ecosystems across several geographical locations.

Over the years, the importance of home décor has surged, attributed to the want for making one’s house aesthetically appealing. For nearly a decade, home décor has acquired a central position in consumer expenditure.

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Tapping into this trend, market players are scrambling to penetrate lucrative markets and acquire a competitive edge.Among these home décor products, teens’ room décor is acquiring immense traction, attributed to the expansion of the world’s millennial population base.

As per UNICEF, there are 1.2 billion adolescents, comprising 16% of the global population, with a majority of them residing in the developing world. Vendors are therefore increasing their foray in these regions.

Teen room decoration is a challenging task. As they undergo both physical and mental changes, their preferences are largely equivocal. Their preferences regarding room decorations keep metamorphosing on a regular basis.

Therefore, having an assortment of room décor accessories greatly help, which has increased expenditure on teen room accessories.

Furniture Segment to Generate Major Green Spaces, Textiles and Wallpapers Trailing Behind

The furniture segment will remain the pioneer in terms of teen room décor product types, capturing over half of the global market revenue share. Tables & chairs form the bulk of teen room décor furniture. Teenagers are generally thrust with immense workload in the form of assignments and homework from their schools and colleges.

This requires them to put in immense hard work for which they require proper seating arrangements. Additionally, other accessories such as mirrors, textiles and wallpapers are also gaining credible ground. Teens want to be able to decide what bed or table covering they would like, prompting manufacturers to design customized products.

The demand for customized wardrobes have risen substantially. As teenagers are highly fashion-conscious, they are willing to experiment with different styles of clothing. As a result, their expenditure on apparel has surged. These clothes require a storage space in the form of cupboards and wardrobes.

Girls and Boys Teen Room Décor Accessories to Expand in Equal Proportion

With the onset of adolescence, both girls and boys undergo major physical and mental transformations. This is the period wherein both genders become highly expressive about their likes and dislikes, and are willing to experiment with various aspects of life. This includes tasting new food, making new friends, and trying new accessories.

Against this backdrop, the sales of room décor items is witnessing major traction. For instance, girls prefer to decorate their room with brightly colored wallpapers depicting several characters and own a cabinet to store their makeup products.

Boys would invest more in things such as sportswear and equipment for which they require storage closets.Therefore, manufacturers are experiencing lucrative revenue generation opportunities in both categories of products since the past several years and will continue gathering momentum in the upcoming forecast period.

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Online Retailing to Hold Sway throughout the Forecast Period

As digital literacy penetrates all the corners of the world, people are investing heavily in smart devices such as tablets, laptops and smartphones. This has encouraged the entry of online retail platforms, available just a click or tap away. As a result, vendors have redirected their operations towards online retailing.

Today, almost every teenager has access to smartphones, laptops and tablets. In most countries, they start earning their pocket money when they enter their mid-teen stage, rendering them capable to expend on room décor accessories via these online portals.

Thus, in light of these trends, online teen room décor marketing will garner immense traction.

High Durability to Accelerate Demand for Premium-priced Accessories

In the contemporary world, customer satisfaction is of utmost importance. Whenever they purchase any product, consumers demand premium quality in terms of durability, longevity and nature of material. These priorities outweigh price concerns, accelerating expenditure on premium priced products.

The same analogy is applicable for teen room décor products. For instance, consumers are willing to invest in wooden tables even though they are comparatively more expensive than their metal counterparts simply because of the fact that they are easier to clean and maintain, thus enhancing its durability.

Global Teen Room Décor Market: Regional Insights

North America is anticipated to remain the dominant teen room décor furniture market. A substantial teenage population base combined with the presence of prominent home décor furniture providers and deep penetration of online sales is heightening growth prospects across the region.

Demand is primarily being driven by the U.S.Asia-Pacific shall emerge as the fastest growing region, attributed to the maximum concentration of teenage population in countries such as India and China.

The influx of western culture is also driving heightened usage of contemporary teen room décor accessories. Moreover, governments are offering favorable reimbursements to manufacturers, thereby increasing their prominence.

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COVID-19’s Impact on the Teen Room Décor Market

The novel coronavirus pandemic has generated major shockwaves across multiple industrial verticals. This also includes the teen room décor market. As countries have imposed strict lockdowns, manufacturing sites are compelled to operate at reduced capacity, leading to supply chain disruptions due to reduced output.

Also, logistical arrangements have been severely crippled, owing to bans on travel and transportation. This has generated immense difficulties in procuring the required raw materials for production. Even if they are available, they are highly expensive, leading to heightened production costs

This has forced retailers to inflate prices of their end-products, rendering them unaffordable to consumers.Additionally, consumers have reoriented their budgets, choosing instead to spend on stocking up essential goods such as food, water, dairy products, hand sanitizers, masks, liquid soaps and gloves.

This has reduced demand for non-essential expenditure such as purchase of furniture. Furthermore, dearth of availability of installation personnel has discouraged consumers from purchasing teen room décor products.

Teen Room Décor Market- Company Profiles

  • West Elm
  • Etsy
  • IKEA
  • Walmart
  • Target Corporation
  • H&M
  • Ban.do
  • Aelfie
  • Tictail
  • Modcloth
  • Lulu & Georgia
  • Urban Outfitters
  • Living Spaces
  • Argos
  • Birch Lane

Regions and Countries Analyzed in the Report

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

Teen Room Décor Market- Segmental Analysis

By Product Type

  • Flooring
  • Furniture
  • Beds
  • Tables & Chairs
  • Cabinets
  • Wardrobes
  • Mirrors
  • Wallpapers
  • Textiles
  • Bed Linen
  • Curtains
  • Tapestry
  • Pillow Covers
  • Others

By Consumer Orientation

  • Boys
  • Girls

By Price Range

  • Premium
  • Mass

By Distribution Channel

  • Offline Channels
  • Online Channels

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Automotive Composites Market to surpass US$ 12.35 billion by 2029, Says Future Market Insights, Inc.

The automotive composites market is predicted to grow from its current value of US$ 8.17 billion in 2021 to US$ 12.35 billion by 2029, registering a CAGR of more than 5.30 percent over the forecast period (2022-2029). Around 8.2% of sales in the global composites market are anticipated to come from the automotive composites sector.

Sales of automotive composites are directly correlated to automotive production and vehicle parc. Despite fluctuating economic conditions in the recent past, on an average, the global automotive market has observed reasonable growth. Efforts to reduce the weight of vehicular components will increase, thereby providing substantial opportunities for the growth of automotive composites market.

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Key Takeaways from Global Automotive Composites Market

  • Glass fiber has been observed to be the most preferred composite material in the automotive industry, owing to low cost and high structural strength.
  • Demand for high-performance automotive vehicles is increasing across the globe, along with the growing demand for emission control. As a result, manufacturers are focusing on using advanced composite materials due to the high temperature generating components that are required.
  • The demand for passenger cars has seen a surge in regions such as India and China. This is expected to further increase the demand for automotive composites in the coming years.
  • Natural fibers are also gaining popularity in the designing and manufacturing of door panels, seat backs, bolsters, and load floor, among others.
  • Most automakers have started to position and re-brand their respective car models with aesthetic and stylish interior features, which demands the increased adoption of lightweight automotive composites.

While the demand for automotive composites is primarily driven by elevated automotive production, the trend of lightweight components in the aftermarket will further increase inclination towards automotive composites.

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Automotive Composites Market Participants

The market for automotive composite has remained competitive, with the presence of giant players with expertise in advanced manufacturing technologies. In order to sustain in the global automotive composites market in the long run, product development is the key growth strategy being adopted by market participants. Launching advanced products that provide numerous operational benefits, and at the same time complying with existing emission norms and other regulations in the market, will help market players maintain product differentiation and strengthen their presence in the global automotive composites market.

Some of the key participants mentioned in the automotive composites market report are Mitsubishi Chemical, Teijin Limited, SGL Carbon SE, Solvay Group (Cytec Solvay Group), and Holding Toray Industries Inc.

Automotive Composites Market by Category

The global automotive composites market is segmented into five segments in detail to cover every aspect of the market and present a complete market intelligence approach in front of the reader.

Material:

  • Glass Fiber Composites
  • Natural Fiber Composites
  • Carbon Fiber Composites
  • Aramid Fiber Composites
  • Others

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Application:

  • Interior
  • Exterior
  • Underbody
  • Chassis
  • Power Train
  • Engine Components

Resin:

  • Thermoplastic
  • Thermoset

Vehicle Type:

  • Passenger Cars
    • Compact
    • Luxury
    • Mid-Size
    • SUVs
  • LCVs
  • HCVs
    • Straight Trucks
    • Dump Trucks/Garbage Trucks
    • Semi-Trailers
    • Fire Trucks
    • Others
  • Agricultural
    • Tractors
    • Tillers
    • Rotavators
    • Harvesters
    • Threshers

Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • South East Asia & Pacific
  • India
  • China
  • Japan
  • MEA

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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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Electric Rice Cooker Market is Anticipated to Show Promising Growth Prospects in 2032 | FMI

Throughout the projected period, the global electric rice cooker market is anticipated to maintain a moderate CAGR of 6.1%. The global market is expected to generate US$3.38 billion in sales in 2022 and US$6.11 billion by the end of 2032.

The major attributes for electric rice cookers to be a popular cooking appliance has been is array of cooking programs which enables to cook all kinds of grains, different kinds of rice oatmeal as well as polenta, vegetables, soups and stews.

Automation of the rice cooking process by electronically or mechanically controlling heat and timing is done by electric rice cookers. Rice Cookers have established themselves as a major kitchen appliance in the last 10 years spanning a significant number of households in the urban space.

Electric rice cookers are controlled by a thermostat that measures the temperature of the cooking vessel and controls the heat.

Key manufacturers in the market are focusing on product development with the introduction of functional features such as microwave and dishwasher safe materials, warming settings and steaming baskets etc.

Appliances that are comforting as well as fit for fast paced life have found significant space in the recent routines. Time saving appliances ae preferred over price by consumers in the developing economies.

The rise in the number of working professionals has further contributed towards the growth in the electric rice cooker market globally. Owing to the above mentioned factors, global electric rice cooker market is anticipated to witness maximum growth in the coming years.

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Electric Rice Cooker Market: Dynamics

The rise in disposable income in developing countries such as India, China and Brazil urban clusters has resulted in increase in the spending and the elevated demand for effort savings electric rice cookers.

Low energy consumption costs have also proved to be a pivotal factor for the consumers as against rising prices of cooking gas is also significantly contributing to the growth in global electric rice cookers market. Readily available product customization further has positively impacted to the growth of Electric Rice Cookers market.

The COVID-19 pandemic has impacted the global economy at various levels where overall consumer spending activity has reduced to a considerable extent. As a result, a substantial slowdown in home appliances has been witnessed in the first 2 quarters of 2020 has been witnessed.

However, use of rice cookers as an essential item can also act as a leverage for its sales for individuals residing in remote and inaccessible areas. The overall global Electric Rice Cookers market growth curve is expected to recover within the next 4 quarters.

Electric Rice Cooker Market: Regional Outlook

With rice being the key staple diet in the Asia Pacific region, the Electric Rice Cookers will continue to witness elevated demand in the coming years.

Growth in demand for premium products in U.S. and various European countries is anticipated to create significant opportunities for the global Electric Rice Cookers market. Africa and Latin America are both estimated to witness steady growth in the demand for the Electric Rice Cookers in the coming decade.

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Electric Rice Cooker Market: Key Participants

Some of the key market participants in the global Electric Rice Cookers market, identified across the value chain include:

  • Toshiba Corporation
  • Conair Corporation
  • TTK Prestige Ltd.
  • Sunbeam Product Inc.
  • AB Electrolux
  • Panasonic Corporation
  • Groupe SEB
  • Breville Group
  • Bajaj Electricals Limited
  • Koninklijke Philips N.V.
  • Ali Group Srl
  • Wonderchef Home Appliances Pvt. Ltd.
  • Newell Brands (Oster)

The research report on the Electric Rice Cookers market presents a comprehensive assessment, and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.

The Electric Rice Cookers market report also contains projections using a suitable set of assumptions and methodologies. The report provides analysis and information according to market segments such as geography, aircraft type, and sales channel.

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The report covers exhaustive analysis on

  • Electric Rice Cookers Market Segments
  • Electric Rice Cookers Market Dynamics
  • Electric Rice Cookers Market Size
  • New Sales of Electric Rice Cookers
  • Current Trends/Issues/Challenges in the Electric Rice Cookers Market
  • Competition & Companies Involved in Electric Rice Cookers
  • New Technology for Electric Rice Cookers
  • Value Chain of the Electric Rice Cookers Market

Regional analysis includes

  • North America (U.S., Canada)
  • Latin America (Mexico, Brazil)
  • Western Europe (Germany, Italy, France, U.K, Spain)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, ASEAN, Australia & New Zealand)
  • Japan
  • Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

The global Electric Rice Cookers market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts 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 segment. The report also maps the qualitative impact of various market factors on market segments and geographies.

Electric Rice Cooker Market: Segmentation

The global Electric Rice Cookers market can be segmented on the basis of Product Type and Application and Distribution Channel.

On the Basis of Product Type

  • Standard
  • Multifunctional
  • Induction
  • Others

On the Basis of Application

  • Household
  • Commercial

On the Basis of Distributional Channel

  • Online
  • Offline

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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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Fragrance Product Market is Anticipated to Expand at a CAGR of 9.4% through 2032

The fragrance product market value is estimated to reach US$ 99.2 billion, with a CAGR of 4.7%. The B2B category of fragrance product market is expected to grow at a CAGR of 9.4% over the next decade.

One of the essential driving reasons for the fragrance product market is predicted to be the increased emphasis on personal cleanliness and grooming among both men and women. In addition, as individuals become more conscious of the importance of physical fitness, the number of gym-goers has grown, which will raise demand for body odor control goods such as deodorants.

Deodorants and fragrances have evolved into everyday personal care items of the fragrance product market that play an essential part in personal grooming. Urbanization, along with rising living standards among emerging nations’ middle-income groups, such as India, Thailand, China, Vietnam, Brazil, and Argentina, is expected to broaden the growth of demand for fragrance products.

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Increased demand for exotic and flowery smells, particularly among young and adolescent customers, is projected to continue to be a positive driver for the sales of fragrance products.

What are the Growth Propellers of the Fragrance Product Market?

Variety of fragrances offered by fragrance product manufacturing companies, an innovative technology used in perfume and deodorant bottles, increasing consumer spending on sales of fragrance products, various offers and discounts offered by fragrance product companies, and various functional advantages to the sales of fragrance products are some of the prime factors that are ballooning the demand of fragrance products.

The demand for fragrance products is estimated to reach US$ 62.6 billion. These factors are expected to drive the demand for fragrance products greatly during the forecast period.

What are the Restraints of the Fragrance Product Market?

Skin problems such as skin irritation and darkening of the skin caused by some harmful ingredients used in the fragrance product market may hamper the demand for fragrance products. In addition, environmental concern in the fragrance product market

due to parabens released from the deodorant spray, which is responsible for the ozone layer depletion, may act as a restraining factor for the growth of sales of fragrance products.

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What Opportunities Await fragrance product market in different Regions?

The maximum population of developed countries gauges demands of fragrance products on a daily basis, and these countries are faring better in the fragrance product market.

North America dominated the fragrance product market, followed by Western Europe and both of these regions are lucrative fragrance product market.

Asia Pacific region is anticipated to be the fastest-growing region during the forecast period for the demand for fragrance products owing to the increasing per capita spending power and westernization of the daily grooming routines.

Furthermore, the young population of growing economies such as India and China is expected to drive the sales of fragrance products in the Asia Pacific region.

Germany has a rising sales of fragrance products of organic cosmetics. On the other hand, France has an excellent demand for fragrance products that substantially import essential oil and export exotic, luxury perfumes.

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What Strategies are Players using to Stay Relevant in the Fragrance Product Market?

The key players operating in for sales of fragrance product market are Lutens’ Borneo, Eau de Vert Eau de Parfum, L’eau Serge Lutens, Clive Christian, L’Oreal SA, Floris, Coty Inc., Revlon Inc. Estee Lauder, Aramis, Christian Dior, BulgariS.p. A., Louis Vuitton, Calvin Kelin, LVMH Group, Chanel, Fifth & Pacific Companies, Procter and Gamble, Gucci, Bourjois, Prada. These fragrance product market players are offering a variety of fragrances with multiple advantages in order to get competitive advantages.

Creed Boutique, LLC, in conjunction with Berkeley Beauty Brands Pvt. Ltd., established its first store in India to cater to the sales of fragrance products in October 2018.

WILDFLOWERS & WEEDS is a new range of perfumes by Jo Malone London, a division of Estée Lauder Companies, which is available in five scents: Willow & Amber, Hemlock & Bergamot, Cade & Cedarwood, Nettle & Wild Achillea, and Lupin & Patchouli.

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Floor Lamps Market likely to Record a Promising CAGR 12% During the Forecast Period By 2032

During the forecast period, the floor lamps market is anticipated to have a promising CAGR of 12%. The floor lamps market is currently worth US$ 33.42 billion and is anticipated to grow to US$ 92.68 billion by 2032.

Floor Lamp market displays a significant growth rate in the market as the consumers are shifting towards modern technologies such as LEDs and CFLs that save energy and are highly-efficient alternatives of the bulbs. Benefits of the floor lamp are extended durability, efficiency, and reliability, which are also the reasons of rising adoption.

High energy consumption costs of normal bulbs as compared to LED floor  lamps act as a restraint for this industry. Halogen and fluorescent bulbs produce more heat and thus result in more energy consumption. Floor lamps LED  utilize 90% less energy and last approximately 15 times longer than the halogen bulbs.

Floor lamps are one of the trendiest and liked by the consumers as they are simple and convenient to add extra illumination to any room. These can be placed almost anywhere and easily moved around in the room. The biggest advantage of them are not attached to some place of the room, so they can be easily repositioned any time you need it.

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Global Floor Lamps Market: Reasons for Covering this Title 

Global demand for home décor product is growing due to the improvement in the living standards of consumers. Floor lamp is trending these days as it gives a classy look in the living room as well as they are coming with new technology of LED lighting edition with different LED colors which suits and matches the room décor.

There has been a continuous adoption of latest bulbs and lighting’s in the commercial and Industrial Arena on account of technological advancements and improvements in lamps, bulbs, and other lighting products. One of the most desirable features in lighting products is durability or longer life span. Therefore, market players are investing extensively on research and development and trying to develop products with higher lifespan 

Global Floor Lamps Market: Key Players 

Some of the key players operating in the global Floor Lamps market are GUANYA, YLighting, Philips, AOZZO, Matsushita Electric (China) Co., Ltd., OPPLE, IKEA, Zhongshan Huayi Lighting, Guangdong PAK Corporation among others. 

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Floor Lamps Market: Key Trends 

  • Arc lamps are gaining an edge over other floor lamps. The prevalence of arc lamps in living rooms is due to the popularity of sectional sofas, and partly for the mid-century modern look 
  • The greater push towards the green in consumer’s lives has led to more energy conscious lighting choices such as LED floor lamps 
  • Antique finishes along with polished nickel and copper are gaining popularity. Metal, glass, and crystal are liked by consumers for the bases of Floor Lamps 

Floor Lamps Market: Key Developments 

  • The growing use of energy efficient light bulbs is synonymous with going green and high tech LED bulbs are at the forefront of this quiet revolution in Floor lamps 
  • Floor lamps with LED lighting coming with wide range of LED color which is enhancing the usage as consumers are interested in buying these which matches the room decor 

Opportunities for Floor Lamps Market Participants 

Technology is making life more efficient, high-efficiency products are being produced for the same goal. Manufacturers are trying to maximize the energy savings and make products more energy efficient for Floor Lamps. With new technological advances, highly efficient products are obtaining these standards in a wide variety of wattages.

The result of these advanced floor lamps will benefit installers and consumers with their ease and affordability. Manufactures are working to achieve a warm light with this new advancement in LED lighting technology, by finding the right color temperature and Color Rendering Index balance for better lighting for Floor Lamps. Manufacturers are keeping in mind factors like height, price, shades and materials used for floor lamps.

The materials used in constructing traditional floor stand lamps vary widely and includes metal, wood and rattan. Most contemporary floor lamps are made from nickel, silver, bronze, steel and metal alloys as they are moving in market.

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Brief Approach to Research for Floor Lamps Market 

FMI will follow a modeling-based approach and triangulation methodology to estimate data covered in this report. A detailed market understanding and assessment of the nature, formats, and application of segments covered in the study is followed by carrying out a demand-side approach to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period.

The statistics and data are collected at a regional level, consolidated and synthesized at a global level to estimate the overall Floor Lamps Market sizes. 

Global Floor Lamps Market: Market Segmentation 

On the basis of types, the global Floor Lamps Market has been segmented as – 

  • Arc Floor Lamps 
  • Modern Floor Lamps 
  • Rustic Floor Lamps 
  • Classic Floor Lamps 
  • Console Floor Lamps 
  • Torchiere Floor Lamps 
  • Tree Floor Lamps 
  • Industrial Floor Lamps 

On the basis of application, the global Floor Lamps Market has been segmented as – 

  • Household 
  • Commercial 
  • Industrial 

On the basis of the distribution channel, the global Floor Lamps Market has been segmented as – 

  • Direct 
  • Indirect 
  • Hypermarket/Supermarket 
  • Specialty Stores 
  • Independent Stores 
  • Online Store 
  • Others 

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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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