Disposable Cutlery Market Share by 2031: Upcoming Trends and Analysis

The global disposable cutlery market is expected dispose off linear transition and move towards exponential transition between 2022 and 2031 at a CAGR of 4%, reaching US$ 2.4 Bn by the year 2031.

Disposable cutlery has emerged as the most economical and efficient solution for both indoor and outdoor food service activities. Future Market Insights (FMI) in a new study has forecast the market to exhibit 0.9% Y-o-Y growth in 2021, after exhibiting negative returns in 2020.

The global disposable cutlery market is expected dispose off linear transition and move towards exponential transition between 2022 and 2031 at a CAGR of 4%, reaching US$ 2.4 Bn by the year 2031.

Use of disposable cutleries in hotels, pubs, bars and beyond has been a key game changer. For instance, these cutleries are highly sought-after for better convenience and hygiene factor in schools & offices. The convenient use and affordable pricing of disposable cutlery with availability of dispensed and wrapped types are driving growth.

Disposable spoons are expected to remain highly sought after. While plastic still accounts for majority of disposable spoons sold worldwide, consumers are gradually transitioning towards wooden spoons. Use and throw wooden spoons are widespread in countries such as India, France, and others that have implemented stringent regulations against the use of plastic.

Key Takeaways from Disposable Cutlery Market
  • FMI presents positive outlook for disposable cutleries market. After reporting negative growth amid COVID-19, the market is set to exhibit 4.4% CAGR between 2021 and 2031
  • U.S. is expected to account for 86% of disposable cutleries sold in North America
  • U.K.’s recovery post COVID-19 is will be slow and steady. FMI projects it to exhibit 1% Y-o-Y growth in 2021
  • Outlook for Germany and Spain will remain positive
  • China will lead East Asia, while growth in South Asia is expected to be spearheaded by India

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“Leading players are launching disposable cutlery made from a wide variety of materials, with appealing look, and specialty applications to enhance customer satisfaction. Additionally, there is increasing focus towards the production of green disposable cutlery items made of plant starch, wood, and bamboo, which is likely to boost the market in the near future,” says FMI analyst.

Rising Demand for ‘On-the-go Food’ Fuelling Sales

Millennials are increasingly looking for personal experiences with trendy goods. They also represent a major and rapidly growing segment of the market. In order to better satisfy the increasing demand of millennial, who prefer on-the-go food producers are also concentrating on expanding their disposable cutlery portfolios. To allow maximum customer convenience, they are seemed to be focusing increasingly on design. Ease in storage and grab-and-go features of disposable cutlery also contribute towards their sales, apart from practical features such as low costs and food hygiene.

In order to cater to the increasing number of on-the-go customers, foodservice operators provide different services such as ‘takeaway’ and ‘drive through’. In response to this, the demand for disposables in the food service is expected to dramatically rise over the next five years.

Key Segments Covered in Disposable Cutlery Industry Research

Product Type

  • Spoon
    • Plastic
      • Polypropylene (PP)
      • Polystyrene (PS)
      • Poly lactic Acid (PLA)
    • Wood
  • Fork
    • Plastic
      • Polypropylene (PP)
      • Polystyrene (PS)
      • Poly lactic Acid (PLA)
    • Wood
  • Knife
    • Plastic
      • Polypropylene (PP)
      • Polystyrene (PS)
      • Poly lactic Acid (PLA)
    • Wood

Fabrication Process

  • Thermoforming
  • Die Cutting
  • Injection Molding

Cutlery Type

  • Wrapped Cutlery
  • Dispensed Cutlery

End-use

  • Food Service Outlets
    • Hotels
    • Restaurants & Cafes
    • Quick Service Restaurants (QSR)
  • Institutional Food Services
    • Cinemas
    • Airline & Railway Catering
    • Schools & Offices
    • Hospitals
  • Household Use

Sales Channel

  • Manufacturers (Direct Sales)
  • Distributors
  • E-retail
  • Retailers
    • Hypermarkets
    • Supermarkets
    • Convenience Stores
    • Specialty Stores
    • Discount Stores & Warehouse/Wholesale Clubs
Impact of COVID-19 on Disposable cutlery Market

COVID–19 has caused drop in sales in 2020-21. This is mainly due to the continuing challenges faced by food service outlets and institutional food service businesses, which are the biggest customers of disposable cutlery. Restaurants, quick service restaurants (QSRs), bars, pubs, and coffee shops remained shuttered for prolonged period to contain the virus, causing disposable cutlery sales to contract.

Nonetheless, the focus on hygiene has caused considerable shift in behaviour pattern among consumers. There is higher inclination towards getting food delivered than dining out even after economies are returning to normalcy. Likewise, the demand for disposable cutleries is surging in comparison to reusable ones to ascertain better hygiene.

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Disposable cutlery Market Landscape

Huhtamaki Oyj, Pactiv LLC, Dart Container Corporation, and Georgia-Pacific LLC are the top players operating in the disposable cutlery market. Additionally, DOpla S.p.A., Vegware Ltd, I.L.P.A. S.p.A. Group, Genpak, LLC, D&W Fine Pack LLC, and Novolex Holdings, Inc. are some of the leading players operating in the market. Companies operating in the market are focusing on innovations to gain competitive advantage.

For instance:

  • Biopac UK Ltd has recently unveiled a range of disposable spoons made from biodegradable corn starch
  • A new line of products, called “Cheeky” introduced by Dart Container Corporation include paper plates and bowls, besides colored cutleries

Hybrid paint cans Market Comprehensive Shares, Historical Trends And Forecast By 2028

Cans are an efficient packaging solution for the storage of different type of goods in various industries. Paint cans are used to store paint, colorants, and other water-based substances. It is generally made up of different materials including metal and plastic. Recent technological advancement noticed in the paint cans market is the growing popularity of the hybrid paint cans which is made up of one type of material.

Generally, the body of hybrid paint can is made up of a plastic material while other accessories such as handle, rings, and plugs are made up of the metallic material. Hybrid cans are very cost effective and durable packaging solution. Hybrid paint can manufacturing companies are focusing to further reduce the environmental impact of these cans through use of recycled materials.

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FMI, in its upcoming business report, elaborates the historical and current scenario of the global Hybrid paint cans market in terms of production, consumption, volume, and value. The report scrutinizes the market into various segments, regions and players on the basis of demand pattern and growth prospects.

Some of the key players in the Hybrid paint cans market are Berlin Packaging, BWAY Corporation, Silgan Holdings, Industrias Sanz SA, and KW Plastics, Inc.

COVID-19 Impact Analysis on Hybrid paint cans Market

The recent outbreak of the COVID-19 has adversely affected various markets in the packaging industry, and the Hybrid paint cans market is no exception. Products which are deemed ‘essential’ continue to experience significant sales, while non-essential items faced a sharp decline in demand.

Demand for hybrid paint cans is expected to witness a healthy CAGR rate during the forecast period due to its cost-effectiveness and better characteristics than other metal-based alternatives. Hybrid paint cans market is also expected to grow with the increase in demand for the environment-friendly packaging products in the paint and coatings industry. It has witnessed strong growth in the last five years and is expected to continue its wave for the next 5-10 years. The recent trend noticed in the market is the introduction of the hybrid paint cans made up of 70-80% recycled plastic resin which will compel paint companies to adopt this sustainable packaging solution over metal-based paint cans.

Hybrid Paint Cans Market: Market Segmentation:

Hybrid Paint Cans Market Segmentation: By Material Type

  • Polypropylene – Metal Cans
  • HDPE –Metal Cans
  • Other Hybrid Cans

Hybrid Paint Cans Market Segmentation: By Product Capacity

  • Up to 500 ml
  • 500 ml to 2000 ml
  • 2000 ml to 5000 ml
  • More than 5000 ml

Hybrid Paint Cans Market Segmentation: By Packaging Application

  • Paints
  • Colorants
  • Coatings

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

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Hybrid paint cans Market: Competition Analysis

The FMI’s study presents a comprehensive analysis of global, regional, and country-level players active in the Hybrid paint cans market. Competitive information detailed in the Hybrid paint cans market report has been based on innovative product launches, distribution channels, local networks, industrial penetration, production methods, and revenue generation of each market player. Furthermore, growth strategies and mergers & acquisitions (M&A) activities associated with the players are enclosed in the Hybrid paint cans market report.

Flexible Packaging Paper Market : Notable Developments & Geographical Outlook

In the recent years, flexible food packaging have seen significant rise in innovation due to technological advancement. One such type of flexible packaging is flexible packaging paper which has witness upsurge in the demand. Flexible packaging paper is mainly used for packaging of several food items such as confectioneries, snacks, coffee, sugar, etc.

In addition, growing concern related to disposal of plastic waste has created growth opportunities for flexible packaging paper market. Furthermore, flexible packaging paper for other than food items can be used for several end uses, for example, personal care & cosmetics, pharmaceutical, consumer goods, etc.

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Examples of some of the key players operating in the global flexible packaging paper market are Sappi Limited, Smurfit Kappa Group plc, Mondi Group Plc, International Paper Company, DS Smith Packaging Limited, WestRock Company, Nippon Paper Industries Co., Ltd., Oji Holdings Corporation, Stora Enso Oyj, Georgia-Pacific LLC, Billerud Korsnäs AB, Packaging Corporation of America, Pratt Industries, Inc., Kap Stone Paper and Packaging Corp, etc.

The flexible packaging paper market is expected to grow considerably due to increasing adoption of ecofriendly packaging products by consumers. Flexible packaging paper is widely preferred due to its properties such as lightweight, cost-effectiveness and durability. Flexible packaging paper products requires smaller space on shelves as compared to rigid packaging products. In addition, flexible packaging paper also provides a wide range of presentation possibilities that help product manufacturers increase aesthetic appeal of the product and also enhance product branding. On the other hand, the plastic flexible packaging have better tensile strength as compared to flexible packaging paper, which is a factor expected to hamper the growth of the market.

Following government’s measures, particularly social distancing norms and stay-at-home orders, companies operating in the Flexible Packaging Paper market have put their production on a halt. Additionally, movement restrictions and supply chain disruptions have created a logistical nightmare for market players, leading to severe product shortages in the global marketplace. Several market players are further planning to relocate their supply chain from China – the first epicenter of the COVID-19.

The FMI’s report includes an interesting chapter on preliminary impact of the COVID-19 on the Flexible Packaging Paper market. This allows both leading and emerging market players to understand the market scenario during a crisis and aids them in making sound decisions to gain a distinct competitive edge.

The global flexible packaging paper market is segmented by material type, packaging type, distribution channel, and end-use industry. The pricing for flexible packaging paper has being done based on material type segment in US$ million, and the volume is considered in tonnes.

On the basis of material type, the global flexible packaging paper market is segmented into –

  • Coated Unbleached Kraft Paperboard (CUK)
  • Solid Bleached Sulfate (SBS)
  • Coated Recycled Paper (CRP)
  • Waxed Paper

On the basis of packaging type, the global flexible packaging paper market is segmented into –

  • Wraps
  • Cartons
  • Bags & Sacks
  • Envelops
  • Lids
  • Pouch
  • Sachet
  • Others

On the basis of distribution channel, the global flexible packaging papermarket is segmented into –

  • Retail
  • E-commerce

On the basis of end-use industry, the global flexible packaging papermarket is segmented into –

  • Food & Beverages
  • Personal Care & Cosmetics
  • Pharmaceutical
  • Agriculture
  • Electrical & Electronics
  • Consumer Goods

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Important Questions Answered in the Flexible Packaging Paper Market Report

  • Which end user remains the top revenue contributor in different regional markets?
  • At what rate has the global Flexible Packaging Paper market been expanding during the forecast period?
  • How will the global Flexible Packaging Paper market look like by the end of the forecast period?
  • What innovative strategies are adopted by Flexible Packaging Paper market players to stay ahead of the pack?

Reconditioned Steel Drums Market | One of the Most Booming Industry in Upcoming Years Due to Global Demand in Industry by 2028

Mounting environmental concerns over recycling / safe disposal of packaging containers have headed to the emergence of new regulations / policies, thus mandating companies to recover their packaging products. However, re-use of this containers especially steel drums with the previous residues may lead to cross contamination. This has led key bulk industrial packaging manufacturers to provide reconditioning services.

As per the Reusable Industrial Packaging Association (RIPA), a U.S.-based trade association which includes businesses such as manufacture, recondition and/or distribution of industrial containers, there was a steep decline of approximately 45% in scrapping of steel drums in United States in the year 2013.

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Key players covered in the report include:

  • Greif, Inc.
  • Mauser Group B.V.
  • The Cary Company
  • Rahway Steel Drum Co Inc.
  • Mitchell Container Services, Inc
  • Chicago Steel Container Corp.
  • General Steel Drum LLC
  • Schutz Container Systems, Inc.
  • North Coast Container Corp.
  • Metal Drum Co Ltd/The
  • Industrial Container Services, Inc.

COVID-19 Impact Analysis on Reconditioned Steel Drums Market

The recent outbreak of the COVID-19 has adversely affected various markets in the packaging industry, and the Reconditioned Steel Drums market is no exception. Products which are deemed ‘essential’ continue to experience significant sales, while non-essential items faced a sharp decline in demand.

Following government’s measures, particularly social distancing norms and stay-at-home orders, companies operating in the Reconditioned Steel Drums market have put their production on a halt.

The global reconditioned steel drums market can be segmented on the basis of material type into:

  • Stainless Steel Drums
  • Cold rolled Steel Drums
  • Carbon Steel Drums

The global reconditioned steel drums market can be segmented on the basis of head type into:

  • Tight Head (closed top) Reconditioned Steel Drums
  • Open Head (removable top) Reconditioned Steel Drums

The global reconditioned steel drums market can be segmented on the basis of size/capacity into:

  • Reconditioned steel drums with Capacity Up to 10 Gallons
  • 10- 25 Gallons
  • 25- 40 Gallons

Global Reconditioned Steel Drums Market: Regional Outlook

The global reconditioned steel drums market is segmented into seven regions, namely, Latin America, North America, Eastern Europe, Western Europe, Middle East and Africa (MEA), Asia Pacific Excluding Japan (APEJ), and Japan.

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Important Questions Answered in the Reconditioned Steel Drums Market Report

  • Which end user remains the top revenue contributor in different regional markets?
  • At what rate has the global Reconditioned Steel Drums market been expanding during the forecast period?
  • How will the global Reconditioned Steel Drums market look like by the end of the forecast period?
  • What innovative strategies are adopted by Reconditioned Steel Drums market players to stay ahead of the pack?
  • What are the restraints affecting the growth of the global Reconditioned Steel Drums market?

Liquid Carton Packaging Market Assessment and Key Insights Analyzed Till 2025

Liquid cartons have made steady progress over the last five years, and are forecast to grow at a significant rate. A liquid packaging carton is a container which enables the safe transportation and storage of liquid products such as juice, milk etc.

Liquid packaging is primarily used for packaging Fast-moving consumer goods (FMCG). The liquid packaging cartons can be of various sizes, shapes and application types, and are easy to design and model according to the packager’s need.

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Liquid Carton Packaging Market: Competition Analysis

The FMI’s study presents a comprehensive analysis of global, regional, and country-level players active in the Liquid Carton Packaging market. Competitive information detailed in the Liquid Carton Packaging market report has been based on innovative product launches, distribution channels, local networks, industrial penetration, production methods, and revenue generation of each market player. Furthermore, growth strategies and mergers & acquisitions (M&A) activities associated with the players are enclosed in the Liquid Carton Packaging market report.

The major global players in the global liquid carton packaging market are Tetra Laval, Comar, Inc., Liqui-Box Corp. and Tri-Wall, and Wayerhaeuser to name a few. The major players in this category follow the strategy of partnership, collaboration and introduction of innovative packaging style in order to maintain their position and enhance their product offering in the global liquid carton packaging market.

Crucial information and forecast statistics covered in the Liquid Carton Packaging market report will arm both existing and emerging market players with necessary insights to craft long-term strategies as well as maintain business continuity during a crisis such as the ongoing COVID-19 pandemic.

Liquid Carton Packaging: Drivers and Restraints

The major driver of liquid carton packaging market includes growing demand for packaged food and beverages, convenience in carrying and transportation, innovation in packaging and recyclable nature of cartons packs are fueling the market growth. However, high competition from plastic packaging and high price are some of the factors which are restraining the market from its potential growth.

Important Questions Answered in the Liquid Carton Packaging Market Report

  • Which end user remains the top revenue contributor in different regional markets?
  • At what rate has the global Liquid Carton Packaging market been expanding during the forecast period?
  • How will the global Liquid Carton Packaging market look like by the end of the forecast period?
  • What innovative strategies are adopted by Liquid Carton Packaging market players to stay ahead of the pack?
  • What are the restraints affecting the growth of the global Liquid Carton Packaging market?

 

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Report Highlights:

  • Detailed overview of parent market
  • Changing market dynamics in the industry
  • In-depth market segmentation
  • Historical, current and projected market size in terms of volume and value
  • Recent industry trends and developments
  • Competitive landscape
  • Strategies of key players and products offered
  • Potential and niche segments, geographical regions exhibiting promising growth

Hydrostatic Transmission Market is anticipated to surpass US$ 11.05 Billion by 2032 | Future Market Insights

On the backdrop of growing power transmission requirements in off road vehicles and material handling systems, Future Market Insights projects a promising growth outlook for the global hydrostatic transmission market for the next decade estimated at a CAGR value of over 5.9% during forecast period.

By capacity, in terms of value, medium duty segment will continue to represent maximum market value, owing to higher end use applications and ideal weight for transmission purpose compared to light duty and heavy duty equipment.

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Adoption of Hydrostatic Transmission Pushed up by a Broadening Application Base in Agricultural Industry

Global hydrostatic transmission market is primarily driven by increasing agricultural activities, leading to the demand and availability of an extensive range of agricultural equipment. One of the top advantages that hydrostatic transmission offers when used in such vehicles is its capability to deliver precise amount of power at low speed and high torque, simultaneously. This attribute makes it an ideal transmission system for off road vehicles, including those used in construction machinery, mining equipment, and material handling equipment.

Additionally, hydrostatic transmission is more versatile when compared to its mechanical counterparts, wherein a variable output can be achieved through fixed input power and other combinations unlike mechanical transmission. The changes in step-less speed ratio of hydrostatic transmission also makes it an attractive prospect for the OEMs to capitalize on, for their products.

Hydrostatic transmission is also preferred by various end users owing to other myriad advantages such as low inertia, high torque-to-speed ratio, and dynamic braking, which are expected to further encourage the growth of market in next few years.

However, there are some disadvantages associated with using hydrostatic transmission which can hinder the growth of the market in the upcoming years. Some of the factors include high occurrences of internal fluid leakage or backward flow, high initial cost and maintenance requirement, lower efficiency than mechanical transmission system, and varying temperature spots within the transmission system.

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Market segmentation

The market segmentation offered in the report study is mentioned below:

By Capacity

  • Light Duty
  • Medium Duty
  • Heavy Duty

By Operation Type

  • VDM-CDP
  • VDP-CDM
  • VDM-VDP

By End User

  • Agriculture
  • Construction & Mining
  • Logistics & Transport
  • Others

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US & Canada Collectively Enable North American Market for Hydrostatic transmission to Deliver Top-notch Performance

As indicated by the regional analysis included in the report, Western Europe is expected to remain dominant throughout the forecast period. Other key markets, i.e. Western Europe, North America, and China will also continue to witness promising growth, in terms of demand and manufacturing of various end use equipment.

North American market is expected to position itself as a renowned off road vehicle manufacturer region, as both the US and Canada are foreseen to significant contribute to the growth of regional market.

Markets in developing economies of Latin America, Middle East & Africa, and Eastern Europe will possibly hold relatively smaller market value shares due to limited production of end use equipment within these regions. However, the market share estimate for Eastern Europe may improve in the next few years, owing to improving agricultural equipment manufacturing scenario in Russia.

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About Future Market Insights (FMI) 

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

Contact:

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Automotive Sensors Market Projected to Register 7.2% CAGR by year 2031

The automotive sensor demand will continue rising through 2021 with worldwide demand projected to increase by 5.5% year over year. As per Future Market Insights (FMI), automotive sensor market revenues generation will increase at a ten-year compound annual growth rate (CAGR) of 7.2%, as the automotive production recovers after bucking scepticism about how the market would perform post pandemic.

NXP Semiconductors N.V., TE Connectivity, Continental AG, Denso Corporation, Robert Bosch GmbH are identified as leading players in automotive sensor market. They will collectively account for nearly 30% of global market share in 2021.

Auto theft has emerged as a serious problem across the globe. According to a report by the National Insurance Crime Bureau, auto theft grew by 9.2% year-on-year in U.S. reaching 873,080 cases in 2020. To tackle this issue, automakers are installing modern anti-theft sensors in economic and budget cars. This development will fuel the demand for automotive sensors in upcoming years.

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Advancement in the field of transport management system and incorporation of smart sensors in advanced driver-assistance systems will create attractive prospects for the expansion of the market.

Truck platooning is an emerging area of application for automotive sensors. In truck platooning, automated driving support and connectivity technology work in sync and are controlled by central operating system. All trucks are connected to leader trucks and rest of platoon adapts their movement according to leader truck. This will increase ADAS penetration in trucks.

Governments in developed economies are mandating the installation of safety sensors in passenger and commercial vehicles to curb the rise in number of road accidents and related fatalities. This will significantly contribute to the overall growth of the automotive sensors market.

Manufacturers are working towards avoiding overheads by reducing the number of product recalls and satisfy consumer demand of modern warning alert system and safety feature in compact cars.

Advancement in the crash prevention technologies like vehicle-to-vehicle communication, traction control system, active kinematics control with integrated brake control, and automated braking system will boost demand for automotive sensor in upcoming years.

Key Takeaways from FMI’s Automotive Sensor Market Study

  • Driven by increasing sales of electric vehicles and presence of leading original equipment manufacturers in U.S., North America market will expand at 4.7% CAGR over the forecast period.
  • European automotive sensor market will grow at a healthy CAGR of 6.5% backed by increasing demand of European luxury cars across the globe and rising production of electric cars in the region.
  • Japan and South Korea will collectively account for around 9.1% of global market share in 2021.  Surge in research and development activities in these countries towards miniaturization of automotive sensors will drive the market growth in these countries.
  • India will offer lucrative opportunities for market growth, as it is the fastest growing economy in the world. Increasing demand for passenger cars and rise in consumer spending on enhanced safety features will boost the sales of automotive sensors in India.
  • Safety sensor is the fastest growing sensor type segment owing to imposition of stringent vehicle and driver safety regulation and increasing demand for luxury and convenience in automobiles.

“Increasing investment in automating vehicles and installing smart technologies in critical safety systems to improve safety standards will boost the demand of automotive sensors in the forthcoming years,” says the FMI analyst.

For instance, in July 2021, Samsung launched its first ISOCELL image sensor specifically designed for automotive applications. Samsung aims at becoming global leader in image sensor sector  and capture maximum market share in upcoming years.

In 2020, AMS introduced two new position sensors the AMS AS5147U and the AS5247U for high-speed electric motors to promote car electrification initiative. These new position sensors are expected to reduce the system cost and boost the electrification of critical vehicle functions like as power steering, active damper control, and braking.

Bridgestone recently developed new “Smart Strain Sensor” technology for autonomous vehicles integrated with next-gen internet of things (IoT) capabilities.

Prominent players operating in the automotive sensor market are:-

  • NXP Semiconductors N.V.
  • TE Connectivity
  • Continental AG
  • Denso Corporation
  • Robert Bosch GmbH.

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Key Segments Covered in Automotive sensors Market Study

Sensor Type:

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

Vehicle Type:

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

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Sales Channel:

  • Original Equipment Manufacturers
  • Original Equipment Supplier Spare Parts
  • Independent Aftermarket

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About Future Market Insights (FMI) 

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

Contact:

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
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E-Rickshaw Market worth $27.5 billion by 2032 | FMI

As per the report published by FMI, the global e-rickshaw market is projected to have a rapid-paced CAGR of 31.8% during the forecast period. The current valuation of the market is US$ 1.71 Billion in 2022.

The market value of e-rickshaw is anticipated to reach a high of US$ 27.5 Billion by 2032.

E-rickshaws are widely acknowledged as a viable alternative to gasoline, diesel, and compressed natural gas auto rickshaws. It is anticipated while analyzing the market in depth that growing end-user affordability, better daily earnings than cycle rickshaws, the attainment of cost-advantage over auto-rickshaws, and increased investment made by the manufacturers for the development and design of more affordable and efficient rickshaws are expected to boost and benefit the e-rickshaw market during the forecast period.

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According to the findings of Future Market Insights, the demand for electric rickshaws is on the rise as they are causing zero tailpipe emissions and are widely used for first/last-mile connectivity in cities across the country. These three-wheeled electric-powered vehicles are also helping in bridging the public transport service gaps for commuters.

Therefore, e-rickshaws can be viewed as the best low-cost shared mode of public transport for last-mile connectivity in the country.

However, the cost of charging stations and the quality of EV batteries are considered the primary challenge in adopting e-rickshaws. These vehicles cannot be utilized while being charged due to their need to be connected to a single place.

The experts of FMI have also revealed the fact that overcharging of EV batteries can cause severe issues to the vehicle like rusting of the grid, shortage of water in the battery, spoilage of battery material, and others, and is expected to pose a considerable threat to the expansion of the market.

FMI has analyzed that the government is likely to support the electrification of auto-rickshaws as a proactive policy toward sustainable mobility in urban areas. It has also been identified that adopting this mode of commute is likely to reduce the level of carbon emission and help keep the environment green.

Hence, a consistent rise in sales of e-vehicles across the world is projected to boost the market further.

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Key Takeaways from the E-rickshaw Market

  • The market share of organized manufacturers in the e-rickshaw market grew to 48.8% during the base year (2021).
  • The initial cost of electric variants is between US$ 811.6 and US$1,487.9, while that of an ICE-based autorickshaw is between US$2,029.05 and US$4,058.1.
  • Lithium-ion-based battery type upheld the largest share in the market, accounting for 51.9% in the year 2021.
  • The Asia Pacific region is likely to dominate the global e-rickshaw market. After India, China, and ASEAN nations account for the second and third largest e-rickshaw market shares in production and sales.

Popularity of electric vehicles is increasing rapidly across the globe, owing to the decline of production costs of EV, increasing installation of charging infrastructure, and rising incentives by governments to reduce carbon emissions from vehicles”– Says an FMI Analyst

Competition Landscape in the E-rickshaw Market 

The electric rickshaw market is primarily dominated by a large number of small, unorganized local players, accounting for a major market share. However, established players in the market are introducing their new models and product launches to gain a competitive edge over other players.

Hhw Care Products Pvt. Ltd., Charuvikram Automobiles Pvt. Ltd., A G International Pvt. Ltd., Saera Electric Auto Pvt.

Ltd., Gauri Auto India Pvt. Ltd., Yuva E Rickshaw, Xuzhou Hongsengmeng group Co., Ltd., Wuxi Weiyun Motor Co. Ltd. are some key players in the e-rickshaw market.

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Key Segments For E-Rickshaw Market

By Vehicle Type:

  • Passenger carrier
  • Load carrier

By Battery capacity:

  • >101 Ah
  • <101 Ah

By Motor power:

  • Upto 1,000 W
  • 1,000-1,500 W
  • More than 1,500 W

By End User:

  • Original equipment manufacturer
  • Aftermarket

Recent Developments in the E-rickshaw Market:

  • In February 2021, Piaggio launched their first electric three-wheeler, Apé eCity, in the Indian market. A 4.5kWh better powers 5.4kW motor in the Apé eCity.
  • Piaggio Ape unveiled the Ape E-City electric rickshaw in India in December 2019. The firm is focusing on expanding its product line by powering the electric rickshaw with swappable battery technology.
  • In July 2019, Treasure Vase Ventures Pvt. Ltd., the parent company of SmartE, one of India’s major suppliers of electric mobility services, secured Rs. 100 crores in series B investment from Japan’s Mitsui & Co.

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

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Automotive Plastics Market Set to Witness an Uptick Size US$ 45 Billion to 2032

According to the study at Future Market Insights (FMI), the global automotive plastic market is expected to secure US$ 28.5 Million in 2022 and reach US$ 45 Billion by 2032. During the forecast period from 2022-2032, the market is likely to display a CAGR of 4.67%. The growth of the market can be attributed to the manufacturers’ increasing focus on reducing vehicle weight.

Players in the industry are taking various initiatives to strengthen their position in the market during the assessment period. For instance, in 2021, Covestro AG rolled out a new product, recycled Polyethylene Terephthalate (rPET). The recycled PET has been optimized for 3D pellet printing. This technology is also called fused granulate fabrication (FGF). It allows for speedy and economically viable additive manufacturing of large-size parts.

Governments across the globe are focusing to curb emissions and introduce fuel economy regulations for vehicles. Implementations of such regulations have forced automotive OEMs to boost the application of lightweight materials like plastics. Advanced plastics aid in ensuring the fuel economy of a vehicle while assuring safety and performance.

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For instance, the U.S is regulated by the National Highway Traffic Safety Administration (NHTSA) and EPA. As per the regulations, the rule establishes standards that would demand an industry-wide fleet average of approximately 49 mpg for passenger cars and light trucks in the model year 2026, by increasing fuel efficiency by 8% annually for model years 2024 and 2025 and 10% annually for the model year 2026.

On the contrary, safety issues associated with the consumption of plastic are expected to hamper the automotive plastic market during the forecast period. Ban on plastic application is projected to limit the industry for automotive polymers as they create disposable issues that harm the environment. Such factors are expected to hinder the market in the forecast period.

Key Takeaways from the Study:

  • The global automotive plastic market is expected to secure US$ 28.5 Billion by 2022
  • The global automotive plastic market is anticipated to display a CAGR of 4.67% by 2032
  • The global automotive plastic market is projected to hold a value worth US$ 45 Billion by 2032
  • China is expected to have claimed 69% of the global automotive plastic market revenue
  • The Interior Furnishing segment is likely to have claimed about 30% of the global automotive plastic market revenue in 2021

“Increasing demand for EVs and growing implementation of stringent rules to curb carbon emission are expected to benefit the market significantly during the forecast period,” says an FMI analyst.

Competition Analysis

Key players in the global automotive plastic market include LyondellBasell Industries Holdings B.V, Evonik Industries, BASF SE, Arkema Group, DuPont de Nemours, Inc., The Dow Chemical Company, Hexion Inc., Momentive Performance Materials, Hanwha Group, Saudi Basic Industries Corporation (SABIC), Formosa Plastics, Sumitomo Chemical Co., Ltd., Mitsui Chemicals, Inc., Zoltek, Covestro AG, and Eastman Chemical Company.

Recent Updates from the Industry Include:

  • In May 2020, BASF rolled out the new styling polymer Luviset 360 which provides a flawless styling performance in six dimensions. The product is flexible, has a long-lasting hold, is strong, and has low flaking. It allows for new textures and supports anti-pollution claims.
  • In June 2021, LyondellBasell and Neste inked a long-term agreement under which LyondeBAsell will source Neste RE, a feedstock from Neste that is being manufactured from 100% renewable feedstock derived from bio-based sources like residual oils and fats and waste. The feedstock will be processed through the cracker at LyondellBasell’s Wesselling, Germany, plant into polymers and sold under the brand name of CicrulenRenew.

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More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the global automotive plastic market, presenting a historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of Material Type (Polypropylene (PP), Polyurethane (PUR), Acrylonitrile Butadiene Styrene (ABS), Polyvinyl Chloride (PVC), Polyethylene (PE), Polystyrene (PS), Polycarbonate (PC), Polyamide (PA), Acrylic (PMMA etc.), Plastic Composites, Others), by Application (Interior Components, Exterior Components & Frame), By End Use (Conventional Vehicles, Electric Vehicles), & Region (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America).

About Future Market Insights (FMI)

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

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Explore the Ambulance Power Inverter Market worth $112 billion by 2032 at a CAGR of 5.5% | FMI

The global ambulance power inverter market is set to witness an impressive growth rate of 5.5% from 2022 to 2032. The ambulance power inverter market size is anticipated to reach a valuation of around US$ 112 Billion by the end of the year 2032 from the current valuation of US$ 64 Billion in 2022.

Until 2020, the demand for ambulance power inverters was limited to only a small fraction of the total ambulances owned by any public or private healthcare institution. However, when the Covid-19 pandemic overtook the available medical infrastructure of all major economies, the requirement for such inverters increased manifold in those two years, consequently escalating the sales of ambulance power inverter in the global market.

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Following the pandemic, several private companies have emerged to provide ambulance services on a private hiring business model. The growing adoption of such service models in different companies has boosted the ambulance power inverter market trends and resulted in its market acceleration.

According to geographies, the Asia Pacific region is anticipated to dominate the ambulance power inverter market due to the region’s growing need for such modern ambulance features and others, which is driving the market’s expansion. Next to the Asia Pacific, North America is anticipated to have considerable growth in the ambulance power inverter market share due to an increase in new technology adoption and a rise in service providers.

The sales of ambulance power inverters in European countries have improved to certain degrees as governments in various nations take steps to provide improved amenities in the healthcare sector. During the anticipated period, the Middle East and Africa are anticipated to grow slowly as the area develops, adopts new technology, and sees an increase in sales of ambulance multilevel inverters.

Further, the adoption of custom-fitted ambulance power inverters in any other type of emergency vehicle is a growing trend in some parts of the world. Such developments are anticipated to present immense ambulance power inverter market opportunities in the coming days.

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Key Takeaways from Ambulance Power Inverter Market Study

  • The overall growth of the global ambulance power inverter market is estimated to be around US$ 48 Billion over the forecast years through 2032, in terms of absolute dollars.
  • On the basis of different types of the UPS segment, particularly UPS 650 VA, is the most preferred category for the application of such inverters in emergency vehicles.
  • Asia Pacific countries such as China, Japan, and India are the leading regions in the overall sales of ambulance power inverter in the global market and together contribute for almost 23% of it.
  • North America holds the second position in the list of leading markets in demand for ambulance power inverter according to various broad geographical regions.
  • Europe is recovering from its stagnant period in demand for ambulance power inverter and is expected to grow at a pace of 7% through the forecasted years.

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Competitive Landscape for the Global Ambulance Power Inverter Market

A few of the major companies operating in the ambulance power inverter market are Omron Automation Pvt. Ltd., ABB Ltd., Tabuchi Electric Co., LTD., Samlex America Inc., PowerBright, SMA Solar Technology, Magnum Dimensions, Calsonic Kansei, Samlex America, and Stanley among others.

Presently, leading suppliers of ambulance power inverters are working to improve product dependability and quality by incorporating new technology. It has increased ambulance power inverter efficiency consequently improving its market penetration in last few years.

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About Future Market Insights (FMI) 

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

Contact:

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
Browse All Reports: https://www.futuremarketinsights.com/reports
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