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Global IoT Connectivity Management Platform Market Poised for Robust Growth, Valued at US$ 7.3 Billion in 2023

The global IoT connectivity management platform market is expected to create an absolute dollar opportunity over the assessment period by registering a CAGR of 16.9% from 2023 to 2033. The global market revenue is predicted to be totalled US$ 7.3 Billion in 2023 and reach around US$ 34.7 Billion by 2033.

According to the Future Market Insights historical analysis, the global IoT connectivity management platform market grew at a CAGR of 15.3% between 2018 and 2022.

The IoT connectivity management platform market currently represents approximately 40% of the total IoT platform market. The popularity of the IoT connectivity management platform market is increasing as it helps to modify cellular IoT and M2M deployments. IoT connectivity management platforms are compatible with carriers that enable devices to access 3G, 4G, 5G, and NB-IoT networks.

Low power wide area networks (LPWANs) connect all types of IoT sensors even with the scattering of nodes in direct proximity. Zigbee is well-suited for medium-range IoT applications. The IoT connectivity management platform market is also used for vehicle-to-vehicle communication (V2V).

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The IoT connectivity management platform market promotes bring-your-own-computer (BYOC) connectivity. Organizations are adopting BYOC to eliminate the initial infrastructure expenses and to minimize the cost of equipment and deployment.

The trend also provides a flexible work environment to the employees and supports connectivity technologies such as LTE, GSM, CDMA, and various non-cellular connectivity protocols such as Wi-Fi and Bluetooth. Furthermore, the solution segment in the global IoT connectivity management platform market is estimated to account for a dominant share of 17.7% in 2023 as it addressed the consolidation challenges associated with operating and managing IoT devices.

Key Takeaways

The Internet of Things (IoT) plays a significant role in connecting the world together. IoT refers to the interconnection and exchange of data among devices/sensors and systems over the internet. Integrating IoT in systems offers various advantages such as long-reach, low data rate, low energy consumption, and profitability.
IoT technologies are focused on handling an array of problems and situations such as vehicle traffic congestion, road safety, and inefficient use of vehicle parking spaces in day-to-day life.
IoT-based smart parking systems are efficiently integrated with mobile applications to provide comprehensive parking solutions both for the user and owner of the parking space. Smart parking systems are usually based on LPWA networks for connectivity.
These networks are also known as mobile IoT networks, as they are specifically designed to support IoT sensors and data that enable smart parking. These networks are designed to be secure, scalable, and future-proofed and operate cost-effectively.
Augmenting adoption of IoT across the automotive sector, specifically in advanced driving assistance systems (ADAS) in autonomous vehicles is expected to bode well for the market in the forthcoming years.
With the rising growth and development of IoT, the mobile industry together combined with 3GPP has standardized new cellular technologies by integrating them with IoT devices. LPWA networks are among technologies that support devices that require low power consumption, long range, low cost, and security. Moreover, the LPWA network is an emerging cellular IoT technology and is expected to create opportunities for the deployment of the IoT connectivity management platform market.

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Competitive Landscape

IoT connectivity management platform market players are focusing on various strategies such as partnerships and collaborations for enhancing their customer base and product offerings.

Key Companies Profiled

Cisco
Nokia
Truphone
Huawei
Ericsson
Comarch
KORE
Arm
HPE
ZTE

More Insights into the IoT Connectivity Management Platform Market

The East Asian region is anticipated to dominate the global IoT connectivity management platform market. China accounted for the dominant share of nearly 43.3% of the total East Asian market share in 2022.

China has embraced NB-IoT technology since the time it was launched. In 2017, China started NB-IoT testing and trials to be able to commercialize NB-IoT in the country. It has completed the transition from lab and field tests to commercial implementation.

South Asia & Pacific is predicted to remain one of the most attractive markets during the forecast period. According to the study, sales in India are estimated to grow by 11.3x during the forecast period.

Over the past few years, South Asian countries have experienced a remarkable increase in infrastructure spending. The IoT revolution is spreading its roots in India as well, and there is a rapid influx of Indian companies joining ranks to move the technology forward.

IoT Connectivity Management Platform Outlook by Category

By Component:

IoT Connectivity Management Platform Solution
Services

By Deployment:

Cloud-based
On premise

By Enterprise Size:

Large Enterprises
Small and Medium-sized Enterprises (SMEs)

By Industry:

IT & Telecom
Consumer Electronics
Energy & Utilities
Healthcare
Manufacturing
Retail
BFSI
Others

By Region:

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

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Author:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.

About Future Market Insights (FMI)

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

Contact Us:

Nandini Singh Sawlani

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Website: https://www.futuremarketinsights.com
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Hydrogen Buses Market is Projected to Bring in US$ 1426.68 Billion by 2033

The Hydrogen Buses Market is predicted to grow at an astronomical CAGR of 67% over the forecast period, according to research by Future Market Insights. The industry’s estimated value is expected to increase from US$ 8.45 Billion in 2023 to US$ 1426.68 Billion by 2033.

Key Takeaways from the Hydrogen Buses Industry

German hydrogen buses market is projected to substantially contribute towards Europe’s leading position on a global scale. The rising influx of hydrogen fuel cell buses in the country is accelerating the transition towards the green economy.
The North American hydrogen buses market holds a significant market share. Rising initiatives by private companies and government bodies to foster the growth of emission-free vehicles in the region are propelling the market development of hydrogen-powered buses.
In emerging countries like India, the escalating pollution levels and growing concerns related to health issues caused by the inhalation of polluted air are driving the demand for hydrogen buses.
In China, the Beijing Winter Olympics 2022 witnessed the circulation of 800+ hydrogen fuel cell buses. The rising production and sales of hydrogen buses in the country are predicted to catalyze market growth.
The increasing operation of eco-friendly hydrogen-powered buses in South Korea is stimulating market growth in the country. Additionally, the rising government initiatives to promote the adoption of hydrogen buses are also enhancing the market scope of these buses.

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The market for hydrogen buses is primarily being boosted by surging concerns over depleting natural resources and degrading environmental conditions. This has propelled the introduction of technologies that encourage the concept of eco-friendly transportation means to sustain the ecosystem.

Additionally, the increase in the number of people perturbed by the harmful effects of air pollution, rising levels of traffic as well as GHG emissions are accelerating the adoption of hydrogen fuel cell buses. These buses, unlike conventional modes of transportation like gasoline and diesel-powered vehicles, are eco-friendly in nature and offer a sustainable transport option.

The market is witnessing significant impacts of technological upgrades taking place in hydrogen-powered vehicles, which is widening the scope of hydrogen-powered buses for the forecast period. The hydrogen-backed buses market is predicted to enjoy several opportunities to realize its potential over the anticipated time period. Further, the increasing investments in the infrastructure for hydrogen fuel cell buses and their related charging stations are projected to incite market development in the coming years.

In the U.S., California provided funds for the production of 100 refuelling stations for hydrogen-powered vehicles to achieve its goal of 1.5 Mn zero-emission Automotives by 2025 end. Similar policies deployed by several governments across the globe to encourage environmental health and safety is expected to facilitate the adoption of hydrogen buses over the forecast period.

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Growing Significance of Eco-friendly Mobility Presents Opportunities for Hydrogen Buses Operators

Companies operating in the hydrogen buses market are launching new models of hydrogen buses, keeping in mind their practicality and relevancy. Additionally, active measures to develop infrastructure for hydrogen fuel cell busare is projected to create favourable market conditions for the industry players in the near future. The increasing efforts to commercialize hydrogen fuel cell buses, especially in Europe, is expected to raise the operation of hydrogen buses.

Following companies provide hydrogen buses in the market, as identified by FMI:

Tata Motors Limited
Thor Industries
Hyundai
Ballard Power Systems
NovaBus Corporation
New Flyer Industries Ltd
EvoBus
New Flyer
Hino Motors Ltd.
SunLine Transit Agency

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Hydrogen Buses Industry Segmentation by Category

By Technology:

Proton Exchange Membrane Fuel Cells
Direct Methanol Fuel Cells
Phosphoric Acid Fuel Cells
Zinc-Air Fuel Cells
Solid Oxide Fuel Cells

By Power Output:

<150 kW
150–250 kW
>250 kW

By Transit Bus Models:

30-Foot Transit Buses
40-Foot Transit Buses
60-Foot Transit Buses

By Region:

North America
Latin America
Asia Pacific
Eastern Europe
Western Europe
Japan

Author

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

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

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

About Future Market Insights (FMI)

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

Contact Us:

Nandini Singh Sawlani

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Automotive Repair & Maintenance Services Market: Top trends driving the industry to reach US$ 1,850 billion by 2033

According to Future Market Insights, the global automotive repair & maintenance services market is expected to be valued at US$ 915.88 billion in 2023. From 2023 to 2033, the market is projected to rise at a CAGR of 7.2% to reach US$ 1,850 billion.

Key Takeaways

United States automotive repair & maintenance services market is expected to grow with a CAGR of 6.8% during the forecast period.
The market in China is expected to grow with a CAGR of 7.1% during the forecast period.
By vehicle type, the passenger car segment is projected to grow with a significant CAGR of 7.4% during the forecast period.
The market in India is expected to grow with a CAGR of 7% throughout the forecast period.

“Increasing adoption of vehicle diagnostic tools and increasing automobile sales are expected to fuel market growth during the forecast period,” comments an FMI analyst.

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The market presents significant market opportunities for key players due to the growing trend of vehicle customization, higher disposable income levels, and increasing automotive safety regulations. Additionally, the demand for technologically advanced features further enhances the market potential for these players.

Increasing adoption of vehicle diagnostic tools and higher vehicle sales is expected to drive market growth. A rise in local shop owners and the prevalence of mergers and acquisitions among key players are anticipated to create opportunities for market growth during the forecast period.

To expand their customer base, automotive service companies are increasingly embracing artificial intelligence-based automated vehicle inspection technology for efficient vehicle inspections. A notable example is the collaboration between Scope Technology, a United States-based tech firm, and Microsoft’s Azure cloud computation in February 2022. This partnership aims to develop AI-automated vehicle inspection technology that enables visual inspections in under 5 minutes, resulting in a significant cost reduction of 50%.

Rising penetration of electric vehicles is further projected to drive market growth. This accelerated adoption of electric vehicles can be attributed to government initiatives and support aimed at improving environmental quality and reducing reliance on crude oil. Moreover, it is projected that battery electric vehicle repair and maintenance costs will be approximately 40% lower than those of internal combustion engine vehicles, further driving the market’s expansion.

Competitive Landscape

The automotive repair & maintenance services market is extremely competitive, with various key industry players investing heavily in providing these services.

The key industry players are Arnold Clark Automobile Ltd., Asbury Automotive Group Inc., Ashland Automotive Group Inc., Belron International Ltd, Driven Brands Inc., Goodyear Tire & Rubber Company, Carmax Autocare Center, Firestone Complete Autocare, Halfords Group PLC, Monro Inc.

Key industry players are utilizing organic growth strategies like acquisitions, mergers, tie-ups, and collaboration to bolster their product portfolio. This is expected to propel the global automotive repair & maintenance services market.

On November 4, 2022, Belron International Ltd. confirmed its submission of a Commitment Letter to the Science Based Targets initiative (SBTi). This letter signifies their determination to establish science-based emissions reduction targets, aligning with the objectives of the Paris Agreement
In March 2021, Monro, Inc. entered into an agreement to acquire Mountain View Tire & Service, Inc. The acquisition not only strengthens Monro, Inc.’s foothold in the western region but also expands its overall presence to a total of 116 stores, further positioning the company in an attractive market.
In July 2022, FullSpeed Automotive® announced its accelerated growth plans through acquisitions to expand to 1,000 units by the end of 2023. As a leading franchisor and operator of automotive aftermarket repair facilities, FullSpeed Automotive® is known for its flagship brands Grease Monkey® and SpeeDee Oil Change & Auto Service®.

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Key Segments Profiled in the Automotive Repair & Maintenance Services Industry Survey

By Services & Parts

Engine Oil
Gear Oil
Brake Oil
Grease
Tires
Batteries
Wear & Tear Parts
Air Filter
Cabin Filter
Oil Filter
Wiper Blades
Others

By Service Providers

Automobile Dealerships
Franchise General Repairs
Specialty Shops
Locally Owned Repair Shops
Tire Shops
Others

By Vehicle Type

Passenger Cars
LCV
HCV

By Region

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

Author

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

About Future Market Insights (FMI)

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

Contact Us:

Nandini Singh Sawlani

Electric Scooter Market to cross US$ 24.8 billion by 2033, Says Future Market Insights, Inc.

The electric scooter market is estimated to be worth US$ 10.4 billion in 2023 and is projected to be valued at US$ 24.8 billion by 2033. Between 2023 and 2033, the market is expected to register a CAGR of 9.1%.

Key Takeaways

From 2018 to 2022, the electric scooter market demand expanded at a CAGR of 7.1%
Based on product type, the maxi electric scooter segment is expected to account for a CAGR of 9.0% during the forecast period.
Global electric scooter demand in the United Kingdom is predicted to account for a CAGR of 8.9% through 2033.
In the United States, the market is expected to account for a CAGR of 0 % between 2023 and 2033.
China is projected to expand by a value CAGR of 8.7% between 2023 and 2033.
By 2033, the electric scooter market in India is anticipated to record a CAGR of 8.5% during the forecast period.

“The increasing awareness of environmental issues, urbanization, and the need for affordable and efficient mobility solutions is anticipated to drive the market growth during the forecast period,” – says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)

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The electric scooter market is expected to grow due to the implementation of government regulations to promote the adoption of electric bikes and consumer preference for using e-bikes as an eco-friendly.

The increasing adoption of electric scooters with lighter weight and more excellent battery life is expected to generate profitable revenue during the forecast period friendly & efficient commute solutions. The increased consumer awareness and rising demand for environmentally friendly forms of transportation are expected to boost the market growth during the forecast period.

Growing environmental awareness and concerns about air pollution and carbon emissions have led to the adoption electric vehicles. Electric scooters produce zero emissions, making them an eco-friendly alternative to gasoline-powered vehicles. Advances in battery technology have increased the range and performance of electric scooters. Lithium-ion batteries have become more affordable and efficient, leading to longer-lasting and faster-charging scooters.

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Competitive Landscape

Leading electric scooter manufacturers increasingly focus on expanding their product offerings to strengthen their customer base. They are adopting growth strategies such as new product launches, partnerships, acquisitions, mergers, collaborations, etc. They expand their global footprint and gain a competitive edge in the market by following these strategies.

Several industry participants in the global electric scooter market also concentrate on providing their customers with interchangeable battery technologies for a more extended range.

In December 2021, with an investment of Rs 300 crore, Bajaj Auto Ltd. revealed that it will establish an electric vehicle production facility in Akurdi, Pune. The factory, on which work has already started, will be able to produce 5,000 EVs annually and will serve both domestic and international markets.
In August 2021, in India, Ola introduced the Ola S1 series, the company’s first e-scooter. The Ola S1 and Ola S1 Pro models of the electric scooter were released.
In August 2020, with a top speed of 25 km/h, Okinawa Autotech unveiled the R30, a new electric scooter that falls into the low-speed category.

Some of the key companies identified are

Alta Motors
Ather Energy
BMW Motorrad International
Cezeta
Energica Motor Company
Hero Eco
Johammer e-mobility GmbH
KTM AG
Mahindra GenZe
Ninebot Limited
Okinawa Autotech Pvt. Ltd
ReVolt Electric Motorbikes
Xiaomi
Yamaha Motor Company Limited.

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Key Segments in the Electric Scooter Market

By Product Type:

Standard
Folding
Self-Balancing
Maxi
Three-Wheeled

By Battery Type:

Li-Ion
NiMH
Lead-Based

By Technology:

Plug-In
Battery

By Region:

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

Author

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

Explore FMI’s Extensive Ongoing Coverage on Automotive Domain

Electric Bike Market:
https://www.futuremarketinsights.com/reports/electric-bike-market

Electric Vehicle Sensor Market:
https://www.futuremarketinsights.com/reports/ev-sensors-market

Electric Vehicle Insulation Market:

https://www.futuremarketinsights.com/reports/electric-vehicle-insulation-market

About Future Market Insights (FMI)

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

Contact Us:

Nandini Singh Sawlani

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705

For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

Kayak Trolling Motor Market to surpass US$ 641 Million by 2032, Says Future Market Insights, Inc.

The kayak trolling motors market is likely to register a CAGR of 3% during the forecast period, and is anticipated to reach a market share of US$ 641 Million by 2032 from US$ 550 Million in 2020, due to an increase in recreational activity coupled with significant fishing activity around the world.

In the global kayak trolling motor market, leading players are striving to roll out high performance, low in energy consumption kayak trolling motor at an affordable price. Moreover, leading manufacturers are listing its product in online websites such as Amazon, Industry buying, among others, in a bid to foray in the competitive market.

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To operate kayak manually or with paddle has been termed as considerably tedious for which drivability of kayak in a more convenient manner as well as high degree of travel speed for kayaks has been desired by the end users. To address this criteria, installation of trolling motors has been sought by the kayak operators. A Kayak based Trolling motor is generally attached to the rear side of Kayak in order to ease in drive that features a motor, propeller, and controls.

Moreover, trolling motor does not create very large sound like large propeller engine, therefore these motors are consider as very economic for water aquaculture. The trolling motor attached kayak can easily operate through remote without any difficulties.

Kayak Trolling Motor Market: Dynamics

Increasing recreational activity coupled with significant fishing activity around the world has been instrumental in driving the global kayak trolling motor market over a considerable time since inception. Furthermore, technological advancement in boat drive technology is also expected to result in sales upsurge of kayak trolling motor market during the forecast period.

Kayak trolling motor manufacturer are providing innovative features such as LED light battery indicator which shows the percentage battery, in a bid to take a mark position in the competitive kayak trolling motor market. Moreover, this technology is opted by most of the manufacturer to withstand in the global competition. Most of the kayak trolling motor’s leading manufacturers are also providing adjustable shaft with kayak trolling motor, which provides easy driving and handling therefore increasing eclectic innovations in the trolling motors shaft is estimated to fillip the global sales of kayak trolling motor market in the coming decades.

Furthermore some vital properties of kayak trolling motor for instance high battery backup, lightweight, good built quality, among other are also enabling the growth of the kayak trolling motor in the respective business territories.

Instead of benefits of kayak trolling motor, after installation of trolling motor overall weight of the kayak will increase which in turn is expected to increase the overall efficiency of kayak as well as can also affect the speed of kayak owing to trolling motor are attached with battery, shaft, among other.

Kayak Trolling Motor Market: Key Participants

The global kayak trolling motor market is characterized as consolidated owing to presence of limited manufacturer. However, some of the participants are identified across the value chain:

Ningbo Haibo Group Co., Ltd.
MINN KOTA
Torqeedo GmbH
Jarvis Walker Pty Ltd.
Newport Vessels
Haswing USA
Marine Tech Products

Kayak Trolling Motor Market: Segmentation

By Thrust capacity, Kayak Trolling Motor market can be segmented as:

Less than 20 lbs
20-40 lbs
40-60 lbs
60-80 lbs
More than 80 lbs

By Distribution Chanel, Kayak Trolling Motor market can be segmented as:

Online
Offline

By Sales Channel, Kayak Trolling Motor market can be segmented as:

OEM (Original Equipment Manufacturer)
Aftermarket
- Shaft
- Handle
- Motor
- Battery
- Controller

By Application, Kayak Trolling Motor market can be segmented as:

Saltwater Use
Freshwater Use

By End Use, Kayak Trolling Motor market can be segmented as:

Fishing & Hunting
Recreational & Touring

Report Highlights:

Detailed overview of parent market
Changing market dynamics in the Kayak Trolling Motor Market
In-depth Kayak Trolling Motor Market segmentation
Historical, current, and projected Kayak Trolling Motor Market size in terms of volume and value
Recent industry trends and developments in the global Kayak Trolling Motor Market
Competitive landscape
Strategies of key players and products offered in the global Kayak Trolling Motor Market
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on Kayak Trolling Motor Market performance
Must-have information for market players in Kayak Trolling Motor Market to sustain and enhance their market footprint

Author

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

About Future Market Insights (FMI)

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

Contact Us:

Nandini Singh Sawlani

Mobile Car Wash & Detailing Market to be worth US$ 251.583 billion by 2033

The mobile car wash & detailing market is anticipated to expand by 9% between 2023 and 2033, reaching a market value of US$ 106.271 billion. By 2033, the mobile car wash & detailing business is expected to be worth over US$ 251.583 billion.

Key Takeaways

The United States might increase its market share by 19.3% between 2023 and 2033.
Australia to hold a 0.7% share of the mobile car wash & detailing market from 2023 to 2033.
Between 2023 and 2033, Germany may hold 5.2% of the mobile car wash & detailing industry.
From 2023 to 2033, the United Kingdom mobile car wash & detailing industry to register an 8.6% CAGR.
Japan’s mobile car wash & detailing industry share could reach 4.7% between 2023 and 2033.
During the forecast period, the Chinese mobile car wash & detailing business to expand at a CAGR of 9.3%.
Through 2033, the Indian mobile car wash & detailing market is set to record a CAGR of 8.8%.
The basic segment to grab a substantial market share of 43.7% in the type category between 2023 and 2033.
The tunnels segment to grab a significant market share of 59.4% in the method category between 2023 and 2033.

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Anticipated increases in environmental regulations, which restrict household car cleaning methods, are to accelerate a greater demand for professional car wash services. One of the key reasons boosting the mobile car wash & detailing industry is the rising customer interest in car maintenance. The mobile car wash & detailing players are putting more emphasis on e-tailing due to the popularity of online shopping expanding due to its ease and flexibility.

Meeting the Rising Demand: High-end Car Washing and Detailing Services Transforming the Market

The mobile car wash & detailing industry is seeing a considerable increase in income due to the implementation of cutting-edge technology, especially automated car wash systems. These advanced technologies give quick and effective car washing services by utilizing cutting-edge sensors and artificial intelligence, essential for the mobile car wash & detailing market expansion.

The rising demand for high-end car washing and detailing services is a significant driver escalating the mobile car wash & detailing industry to a rise in revenue. Customers are increasingly willing to spend money on professional auto cleaning and detailing services that take meticulous care of their vehicles. The trend towards premium services is picking up steam as people place more importance on maintaining the appearance and value of their automobiles and want speedy and practical fixes.

The Rise of Mobile Auto Washing Services: Convenient Cleaning at Your Doorstep

Mobile auto washing services are becoming increasingly popular, helping increase sales. Mobile car washing services offer unrivaled convenience by providing on-demand cleaning solutions that may be transported to the customer’s location. Being able to wash their cars while taking care of work or other obligations appeals to time-conscious professionals who are busy.

The mobile car wash & detailing industry is expanding due to the increased use of subscription-based car wash services. Subscription-based services appeal to customers who want predictability and consistency in their car cleaning routine since they provide the ease of routine car washing at a predetermined cost. This subscription-based business model meets the needs of those who favor convenient, regular vehicle maintenance, which spurs mobile car wash & detailing market expansion.

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Regional Outlook

Due to the numerous car owners and growing public awareness of the value of keeping vehicles clean, the North American mobile car wash & detailing market is anticipated to account for a significant revenue share throughout the projected period. The popularity of ceramic coating and car cleaning is growing in the United States, which may create new business opportunities for companies that offer car wash services.

Due to the increasing demand for mobile car wash & detailing in developing countries like China and India, the Asia Pacific mobile car wash & detailing industry is expected to experience a swift revenue CAGR from 2023 to 2033. Changing lifestyles and rising disposable money escalate the demand for mobile car wash & detailing in this local market.

Increasing consumer awareness of the importance of car maintenance and several vehicles on the road spurs the market growth for mobile car wash & detailing. The market growth of mobile car wash & detailing is driven by affordable labor in Asia Pacific, allowing service providers to offer their services at reasonable prices.

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Competitive Landscape

The mobile car wash & detailing business is extremely competitive, with a variety of brands and models offered at various pricing points. Spiffy, Inc., MobileWash, Cozicars, and GoWashMyCar Ltd. are a few of the top companies on the market. To increase their market position, these businesses concentrate on research and development and work to create novel services with extra features.

Novel Innovations

· Acquisition

In August 2022, Mister Car Wash, Inc. revealed its acquisition of Top Wash, including three express outdoor facilities in Anoka, Fridley, and Champlin, Minnesota. This strategic move has significantly expanded Mister Car Wash’s presence in the northern suburbs of Minneapolis.

· Launch

Mister Car Wash, Inc. declared the launch of its new branch in Oviedo, Florida, for June 2022. The Platinum package available at the new facility includes several of Mister’s distinctive goods, including the waterfall HotShine Carnauba wax, Repel Shield, and Platinum Seal. A cutting-edge tunnel experience with Mister’s unique cleaning systems is available at the new location.

Key Segments

By Type:

Basic
Deluxe
Premium

By Method:

Tunnels
Rollover or In-Bay
Others

By Booking:

Online
Offline

By Payment:

Cash
Cashless

By Region:

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

Author

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

About Future Market Insights (FMI)

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

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Nandini Singh Sawlani

Electric Vehicle Motor Market to Hit US$ 18.09 Billion by 2032 | Future Market Insights, Inc.

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

Key Takeaways from Electric Vehicle Motor Market

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

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

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

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

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

Competitive Motors

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

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Key Segments Covered in Electric vehicle motor Industry Analysis

By Product Type:

By Power:

Up to 100kW
101-200kW
Above 200kW

By EV Type:

BEV
HEV
PHEV

By Region:

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

Author

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

About Future Market Insights (FMI)

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

Contact Us:

Nandini Singh Sawlani

Rolling Mill Machine Market Rising to US$ 26.7 billion by 2033

Throughout the forecast period spanning from 2023 to 2033, the global rolling mill machine market is poised to exhibit a compound annual growth rate (CAGR) of 3.5%. By 2033, the market is anticipated to achieve a valuation of US$ 26.7 billion, marking a notable increase from its 2023 valuation of US$ 18.9 billion. Projections suggest that the global market is expected to experience a year-on-year (y-o-y) growth rate of 4.5% during the projected period.

A crucial component within the food and beverage industry, the rolling mill machine serves as a versatile workhorse, performing essential tasks such as crushing, grinding, pulverizing, and mixing. In food and beverage applications, these machines are commonly employed to crush or grind ingredients into powders or pastes, as well as to blend various ingredients to create innovative flavors and textures.

While investing in a rolling mill machine entails significant upfront costs for food and beverage businesses, the potential returns include enhanced efficiency and productivity. When selecting a rolling mill machine, it is imperative to prioritize durability and ease of operation to maximize its benefits for the business.

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Drivers

The rising utilization of rolling mills for imparting intricate patterns onto metals and shaping furniture through the bending of straight metal sheets into curved forms is projected to fuel market growth.

Continual advancements, including improvements in dimensional precision, the utilization of higher-strength steels, integration of cooling mechanisms in hot rolling procedures, and the resultant weight reductions, are anticipated to stimulate sales within the industry.

Restraints

It’s worth noting that rolling mill machines exhibit optimal performance when working with materials that are easy to grind, such as cereal grains and corn, and may not be as effective with two-dimensional products or fibers.

Moreover, given the varied grind requirements, rolling mill machines necessitate additional operator inputs for adjusting the rolls accordingly, underscoring the importance of operator intervention in optimizing machine performance.

Key Companies

ABB Ltd.
Andritz AG
Robert Bosch GmbH
Fives Group
Hitachi Ltd.
JTEKT Corporation
Mitsubishi Heavy Industries Ltd.
Primetals Technologies Ltd.
SMS group GmbH
ThyssenKrupp AG

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Market Outlook by Category

By Operating Type:

Automatic
Semi-automatic

By Application:

Meat Processing
Dairy Processing
Bakery
Others

By Region:

North America
Europe
Asia Pacific
Latin America
Middle East and Africa (MEA)
RoW

About Us

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 favour 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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European Platelet-Rich Plasma (PRP) Market Expected to Reach US$ 80.3 Million by 2033

The European market for Platelet-Rich Plasma Market (PRP) therapy is anticipated to reach US$ 80.3 million by 2033, reflecting a steady growth trajectory. This represents a projected Compound Annual Growth Rate (CAGR) of 3.4% from a base valuation of US$ 57.5 million in 2023.

Growing Patient Interest and Improved Treatment Experiences

A growing emphasis on patient education and informed decision-making is fueling demand for PRP therapy. Healthcare providers are actively educating patients about the benefits and expectations of PRP, fostering greater understanding and trust. Additionally, clinics are enhancing the patient experience by offering flexible scheduling, faster recovery times, and improved post-treatment support. This focus on patient satisfaction is a key factor contributing to long-term industry growth.

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Expanding Applications of PRP Therapy

The use of PRP therapy in conjunction with other regenerative procedures is gaining significant traction. Doctors are increasingly combining PRP with techniques like facelifts, hair transplants, and even stem cell therapy. This synergistic approach leverages the combined benefits of multiple treatments, leading to improved outcomes and faster recovery for patients. This trend appeals to both patients seeking effective treatment options and healthcare professionals striving to provide optimal care.

A Promising Future for PRP Therapy in Europe

The European PRP market is poised for expansion, fueled by rising patient awareness, improved treatment experiences, and the growing application of PRP alongside other regenerative therapies. This growth signifies a positive development for the field of regenerative medicine, offering patients potentially faster and more effective treatment options.

“Technological developments, sustainability, and strategic partnerships are driving a shift in the Europe platelet rich plasma (PRP). PRP treatments are becoming smarter thanks to IoT and AI, while regional players and sustainability initiatives are changing the game. PRP is heading toward a more patient- and environmentally-focused future,” says an FMI analyst.

Competitive Landscape

Strategic partnerships are gaining traction, with established corporations collaborating with startups, research institutes, and healthcare facilities to increase product innovation.

Research and development is a top priority, with considerable investments made to improve PRP preparation processes and examine novel medicinal uses.

European Platelet-Rich Plasma (PRP) Market Key Takeaways

In 2018, the industry size stood at US$ 43.4 million.
The industry size expanded at a 4.6% CAGR from 2018 to 2022.
In 2022, the industry size stood at US$ 54.93 million.
In 2023, the kits segment occupies 78% of Europe’s shares for platelet rich plasma (PRP).
In 2023, the knee segment holds 37.0% of Europe’s platelet-rich plasma (PRP) shares.
The industry in the United Kingdom will rise at a 2.10% CAGR from 2023 to 2033.
In 2023, Germany occupies 18% of Europe’s platelet rich plasma (PRP) shares.

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Recent Developments Observed by FMI:

ProGen PRP Advantage, now known as ProGen PRP Eclipse, was rebranded by Crown Aesthetics, a division of Crown Laboratories, Inc., in December 2022. ProGen PRP and Eclipse PRP have been combined into a single best-in-class solution as an example of Crown’s unwavering commitment to providing physicians and their patients with market-leading products and technology.
The United Kingdom-based pharmaceutical company Ester Medical announced in May 2022 that it had signed an agreement with Aesthetic Management for the long-term marketing and distribution of Eclipse PRP and Tropocells in the United States.

Some of the Key Players in European Platelet-Rich Plasma (PRP) Market:

Arthrex, Inc.
Stryker Corporation
Johnson and Johnson Ltd.
Zimmer Biomet Holdings Inc.
Terumo Corporation
Glofinn Oy
Medira Ltd.
Regen Lab S.A

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European Platelet-Rich Plasma (PRP) Market Key Segments:

By Product Type:

Instruments
Kits
Kits by Type
Pure Platelet Rich Plasma (P-PRP)
Leukocyte-Rich Platelet Rich Plasma (L-PRP)
Leukocyte-Platelet-Rich Fibrin (L-PRF)
Pure Platelet Rich Fibrin (P-PRF)
Kits by Origin
Autologous Platelet Rich Plasma
Homologous Platelet Rich Plasma
Allogeneic Platelet Rich Plasma

By Application:

Knee
Elbow
Foot and Ankle
Shoulder
CMF
Others

By Country:

United Kingdom
France
Germany
Spain
Italy
Rest of Europe

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Nandini Singh Sawlani

Blood Temperature Indicator Market is Projected to Grow at an impressive CAGR of nearly 12% to 13% by 2032 | FMI

The market for blood temperature indicators is expected to reach US$ 210 million by 2021. According to estimates, blood temperature indicators will generate US$ 235 million in sales by 2022, growing at a remarkable rate of roughly 12% to 13% between 2022 and 2032.

In the medical and healthcare sector, there is a surging demand for blood temperature indicators, crucial devices affixed directly to blood bags. Their popularity is swiftly rising due to their capability to provide real-time temperature measurement, ensuring the continuous monitoring and precise recording of blood temperature throughout storage, handling, and transportation processes.

North America is poised to take the lead as the most lucrative market for blood temperature indicators, with projections spanning from 2022 to 2032. The region’s prominence in this market is attributed to a growing emphasis on maintaining the appropriate temperature of blood bags during storage and transportation to ensure the quality of blood. This heightened focus has triggered a swift surge in demand for blood temperature indicators.

To capitalize on this expanding demand, notable manufacturers are strategically pursuing merger and acquisition endeavors to diversify their product offerings. An illustrative case is Zebra Technologies, an American provider of real-time monitoring solutions. In 2019, Zebra Technologies acquired Temptime Corporation, a manufacturer of temperature monitoring solutions. This strategic move augmented their product portfolio, specifically in the domain of medical temperature indicating devices. Such developments are expected to facilitate and bolster the growth of the blood temperature indicator market in North America.

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South Asia is poised to play a pivotal role in the global blood temperature indicators market, making significant strides from 2022 to 2032, as noted by Future Market Insights (FMI). The region’s prominence is driven by the escalating incidence of road accidents and the increasing burden of blood-related diseases, which have led to a substantial rise in blood transfusion activities across Asia Pacific.

This surge in blood and blood component demand has created a robust market for associated medical devices, including blood temperature indicators. To illustrate, in India, where the Friends2support Organization reports an annual requirement of approximately 50 million units of blood and around 30 million units of blood components, blood temperature indicators are employed on nearly every blood bag. As such, the growing demand for blood and its components is poised to provide a favorable tailwind to the South Asia blood temperature indicator market’s growth.

Blood Temperature Indicator Market: Key Players

Examples of some of the key players operating in the global blood temperature indicator market are:

Temptime Corporation,
Elitech,
Timestrip UK Ltd.,
Hanwell Solutions Ltd.,
Lisaline Lifescience Technologies Pvt. Ltd.

Key Drivers-

Increasing Blood Transfusion Activities: The rising need for blood and blood components due to road accidents, surgeries, and blood-related diseases is fueling the demand for blood temperature indicators to maintain the quality of stored blood.
Quality Assurance: Blood temperature indicators are crucial for ensuring the safety and quality of blood and its components, driving their adoption in healthcare facilities and blood banks.
Regulatory Compliance: Stringent regulations and guidelines related to blood storage and transportation are compelling healthcare institutions to use blood temperature indicators for compliance and safety.
Technological Advancements: Ongoing advancements in blood temperature indicator technology are enhancing their accuracy and efficiency, making them more attractive to end-users.
Growing Awareness: Increasing awareness about the importance of maintaining proper blood storage conditions is leading to greater adoption of blood temperature indicators in the healthcare sector.

Future Prospects of Blood Temperature Indicators

The future of the Blood Temperature Indicator Market looks promising, with ongoing advancements in sensor technology, data analytics, and connectivity. As these devices become more sophisticated and accessible, their adoption is likely to skyrocket, transforming patient care across the globe.

Major Restraints-

Budget Constraints: Healthcare facilities, especially in resource-constrained regions, may face budget limitations, making it challenging to invest in expensive blood temperature indicator systems.
Limited Awareness: Some healthcare providers and institutions may have limited awareness of the benefits and necessity of blood temperature indicators, leading to slower adoption rates.
Technical Expertise: Implementing and maintaining blood temperature indicator systems may require technical expertise, which can be a barrier for smaller healthcare facilities.
Regulatory Compliance Costs: Meeting regulatory standards for blood storage can be costly, particularly for smaller blood banks and clinics, impacting their ability to invest in temperature indicator technology.
Alternative Solutions: Some healthcare facilities may opt for alternative methods to monitor blood temperature, such as manual checks, which can deter investment in specialized blood temperature indicator systems.

Blood Temperature Indicator Market: Segmentation

By Material:

Polypropylene (PP)
Polyethylene (PE)
Others

By Threshold Temperature Range:

Up to 2°C
2°C to 4°C
5°C to 7°C
Above 7°C

By End Use:

Hospitals
Clinics
Blood Banks
Blood Collection Centers
Diagnostics Lab
Others

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Nandini Singh Sawlani