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Automotive Turbochargers Market Report Covers Detailed Industry Scope, Future Scenario and Elaborates Outlook to 2031 – FMI

As per a recent study by ESOMAR-certified firm Future Market Insights (FMI), the global automotive turbochargers market will be valued at US$ 9.6 Bn in 2021, exhibiting robust growth at 8.8% CAGR between 2021 and 2031.

Growth prospects are expected to be positive as automotive turbochargers sales exhibit year on year growth of over 6.5% in 2021. Top players, comprising Garrett Motion (Formerly Honeywell), BorgWarner, IHI, Mitsubishi Heavy Industries account for approximately 85% of the market share.

Tightening restrictions to curb harmful greenhouse gas emissions across various countries, coupled with growing consumer demand for high-performance passenger cars are chief factors fostering sales in the global automotive turbocharger markets.

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E-turbochargers are gaining traction in the automotive industry, thereby encouraging manufacturers to focus on product development and innovations regarding e-turbochargers for their incorporation in hybrid vehicles, which is driving the market growth.

Additionally, increasing adoption of electric and hybrid vehicles in developed countries such as the U.S., the U.K., and Germany, along with growing applications of variable geometry technology in turbochargers is promoting sales in the market.

In developing countries such as China, India, South Korea, and Brazil, automotive turbochargers market growth can be attributed to growing consumer preference for high-performance and fuel-efficient passenger cars, creating lucrative opportunities for leading manufacturers in the market.

Key Takeaways from FMI’s Automotive Turbochargers Market Study

In terms of product type, variable geometry technology will remain dominant over the forecast period.
Passenger cars will lead the vehicle type segment, accounting for 3/5^th of the total sales.
The U.S. is anticipated to remain the largest market for automotive turbochargers sales.
China will emerge as a lucrative market, owing to tough emission control regulations.
Germany will lead the expansion of automotive turbochargers market in Europe throughout the assessment period.
South Korea and Japan will account for 6% of the total automotive turbochargers market share.

“Technological advancements in automotive turbochargers that support fuel efficiency and optimal performance, coupled with increasing automotive sales will broaden growth prospects for players operating in the market,” says the FMI analyst.

Competitive Landscape

Garret Advancing Motion (formerly Honeywell), BorgWarner Inc., IHI Corporation, Cummins Inc., Bosch Mahle Turbo Systems GmbH & Co, Eaton Corporation plc, Weifang FuYuan Turbochargers Co., Ltd., Mitsubishi Heavy Industries, Continental AG, and Toyota Industries Corporation are some leading manufacturers operating in the automotive turbochargers market.

As per FMI’s analysis, the global automotive turbochargers market is dominated by top 5 players, including Garret Advancing Motion (formerly Honeywell), BorgWarner Inc., IHI Corporation, Mitsubishi Heavy Industries, and Cummins Inc., accounting for nearly 85% of the market share.

Key players are striving to strengthen their foothold in the market by emphasizing on various inorganic strategies that include site expansion, new product launches, increased research and development, and strategic collaborations. For instance:

In May 2021, BorgWarner entered into a global agreement to supply its electronic turbochargers to OEMs for hybrid electric vehicles. This agreement will provide a significant boost to ongoing research and development in the automotive turbochargers market.
In June 2021, Cummins Inc announced the expansion of its production facility to two new locations in North Carolina and South Carolina which is expected to be completed by the end of 2021. The expansion will allow the company to remanufacture and develop new turbocharger products, improving cost competitiveness simultaneously.

More Insights on the Automotive Turbochargers Market

In its latest report, FMI offers an unbiased analysis of the global automotive turbochargers market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of fuel type (gasoline and diesel), vehicle type (passenger car, LCV, HCV, agricultural machinery, and construction machinery), product type (wastegate, variable-geometry technology and twin-turbo), sales channel (OEMs and aftermarket), actuator type (hydraulic, pneumonic and electric) and across seven regions. (North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan (APEJ), Japan, and Middle East & Africa).

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Automotive Turbochargers Market by Category

By Vehicle Type:

Passenger Car
LCV
HCV
Agricultural Machinery
Construction Machinery

By Product Type:

Wastegate
Variable-geometry Technology
Twin Turbo

By Fuel Type:

Gasoline
Diesel

By Sales Channel:

OEM
Aftermarket

By Actuators:

Hydraulic
Pneumatic
Electric

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Key Points Covered in Automotive Turbochargers Market Survey

Market estimates and forecast 2021-2031
Key drivers and restraints impacting market growth
Segment-wise, Country-wise, and Region-wise Analysis
Competition Mapping and Benchmarking
Brand share and Market Share Analysis
Key Product Innovations and Regulatory Climate
COVID-19 Impact on Automotive Turbochargers Market and how to Navigate
Recommendation on Key Winning Strategies

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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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Aircraft Refurbishing Market Overview by Top Players, Regions, Segments, Demand and Forecast till 2031 – FMI

A recent market research report by Future Market Insights (FMI) offers critical insights on the growth of aircraft refurbishing market for the forecast period of 2021 and 2031. The global aircraft refurbishing market is estimated to grow at a healthy CAGR of over 5% through the next decade, as suggested by the report forecast.

According to the study, demand for refurbished aircrafts was set to grow at a higher pace as per earlier projections, however, the Black Swan event of COVID-19 has led to a massive decline in uptake.

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According to the report, the global aircraft refurbishing market is expected to witness noteworthy growth over the forecast period, primarily driven by the increasing demand for upgradation of domestic cabins, particularly in North America and Western Europe, which is attributed to the increasing number of existing narrow body aircrafts within these regions.

The growth of the aircraft refurbishing market will remain primarily driven by the increasing demand for new business seats, mainly in airline companies that provide the short haul services. FMI’s analysis highlights that the demand for aircraft refurbishment has remained influenced by the expansion of refurbishment industry across developing economies, such as Middle Eastern countries, India, China, and many of the other Soviet Union republics.

Technological Innovations Driving Opportunities for Aircraft Refurbishing

In-Flight Entertainment System (IFES) components are integrated and repackaged consumer electronics. Given the small lifespan of consumer electronics, aircraft refurbishing becomes a mandatory process so that they stay ahead of system obsolescence and in-sync with consumer expectations.

As these technologies get outdated very frequently, there are opportunities in designing, developing, manufacturing, and installing customized inflight entertainment and communications (IFEC) solutions to keep pace with new technological innovations. For instance, Android mobile operating system is gaining popularity as a next generation in-flight entertainment and connectivity (IFEC) platform.

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Demand for Aircraft Refurbishing Growing in the Middle East

Robust growth in the upper-middle income group has paved way for strong passenger numbers with maximum growth expected in the APAC and Middle East regions. It is anticipated that the Asia Pacific region will witness almost half of the world’s air traffic growth in the next 20 years.

The aircraft refurbishing market is likely to witness global migration from west to east owing to lower costs. Amongst the new airport development projects that are under construction around the world, APAC encompasses over half of them, which opens huge opportunities for the airport support industry in the region.

Premium economy seats offer a significant upgrade from the economy experience without the high price of a business class fare. The segment offers a wide range of benefits including more comfortable and spacious seats, priority check-in and baggage delivery at the airport, and quality meals with complimentary bar services. In 2016, American Airlines became the first US carrier to offer a premium economy cabin, and today, this trend of increasing preference for premium economy section is gaining coherence across the globe.

Aircraft cabins have undergone significant changes over the past few decades in terms of features, functions, and equipment. Airlines use passenger cabins as presentation of their brand image and gain patronage by providing competitive features, comforts, and ambience. Aircraft cabin illumination is one of the most important piece of equipment that creates the ambience passengers look for during their journey.

Key Segment

Based on the aircraft type

large body aircraft
wide body aircraft
narrow body aircraft

Based on the refurbishing type

VIP cabin refurbishing
commercial cabin refurbishing

Based on the fitting type

retrofit
IFEC and lighting
passenger seats

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Global Aircraft Refurbishing Market: Key Vendor Insights

Some of the prominent players in the global aircraft refurbishing market are United Technology Corporation, SIA Engineering Co Ltd, Hong Kong Aircraft Engineering Company Limited, Gulfstream Aerospace, Ltd, JAMCO America, Sabreliner Aviation LLC Diehl Stiftung & Co. KG, Lufthansa Technik AG, SCI Cabin Interiors, and Jet Aviation AG. Tier-1 players are collaborating with regional/local companies to increase their aircraft refurbishing product portfolio, thus, gaining a competitive edge over their peers.

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Automotive Cabin Air Quality Sensors Market Demand, Supply, Growth Factors, Latest Rising Trend and Forecast to 2032

Escalating levels of air pollution, deteriorating air quality within automotive, and growing passenger awareness regarding safety, comfort, and overall in-car wellbeing has resulted in accelerated global adoption of automotive cabin air quality sensors. In addition to growing awareness, concerns regarding reduction of CO2 and particulate matters coupled with stringent government regulations are the primary drivers shaping the global automotive cabin air quality sensors market over the forecast period of 2022-2032.

In 2022, the market for vehicle cabin air quality sensors is likely to be valued at US$ 411.16 million. Through 2032, the market is anticipated to develop at a CAGR of 13.8% and reach US$ 1497.73 million.

A recently published intelligence outlook by Future Market Insights (FMI) projects stellar growth prospects for the global automotive cabin air quality sensors market at an estimated CAGR of 13.8% over the 10-year forecast period. Although, FMI predicts an exceptional market performance in terms of annual growth, the adoption of automotive cabin air quality sensors in terms of value, is projected to be extremely low, owing to some restraining factors being grey market presence, low replacement rate, commuters moving towards public transport, and lack of resources and technological awareness. According to FMI’s market research analysis, the low volume-high growth global automotive cabin air quality sensors market is projected to reach a market valuation of US$ 892,950.7 Thsnd by 2028 end.

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Worldwide Efforts to Curb Emission & Particulate Matters Would Lift Up Automotive Cabin Air Quality Sensors Endorsements

Unfavorable climate changes have pushed government authorities to place strict regulations on the emission of sulfur oxides, nitrogen oxide and particulate matters. Regulations such as the Paris Agreement, EPA Guidelines, and new emission standards set by the Chinese government to restrict the emission of VOCs (volatile organic components) are all likely to shape the future of global automotive cabin air quality sensors market.

Moreover, in regions such as North America, Western Europe and Japan, the demand for luxury cars has been increasing. With that, the governing bodies have implemented strict protocols to ensure the driver and passenger wellbeing, violating which, heavy penalties are levied. Research suggest that commuters spend almost 5.5% of their time in a closed vehicle, exposing themselves to over 20 harmful gases and particulate matters. Safe technologies such as automotive cabin air quality sensors would enhance the overall in-care experience.

Developing Countries to Create Growth Opportunities for Further Investments & Market Revenue

Recovering economic conditions in emerging economies has also pushed the automotive industry, which would further create public-private partnership opportunities in the coming years. Through partnerships and acquisitions, markets in emerging countries is projected to be a hotbed of opportunities for numerous foreign players to penetrate and solidify their market share in the regional markets. Moreover, increase in demand for mid-size cars and heating, ventilation, and air conditioning (HVAC) systems in passenger cars and commercial vehicles, in that receives commands from automotive cabin air quality sensors, will further drive-up the adoption, in the emerging markets. Within the passenger cars segment, SUV cars segment is expected to hold close to 39% market share throughout the assessment tenure, owing to expanding demand for automotive cabin air quality sensors in HVAC systems and air filters of a car cabins. Key players in the automotive cabin air quality sensors market are focusing on strategic alliances with domestic and overseas players to expand their product offering to regions that present increased consumption potential.

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Market segmentation

On the basis of vehicle type, the global automotive cabin air quality sensor market is segmented into

Passenger Cars
- Compact Passenger Cars
- Mid-Sized Passenger Cars
- Luxury Passenger Cars
- SUV
Commercial Vehicles
- LCV (Light Commercial Vehicles)
- HCV (Heavy Commercial Vehicles)

on the basis of regions, including

North America
Latin America
Western Europe
Eastern Europe
South East Asia and Pacific
China
India
Japan
Middle East and Africa.

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Technological Innovations & Advancements to Add Mobility to Automotive Cabin Air Quality Sensors Market

Key players, compelled by advancements in automation and research, are developing advanced sensor features to better equip commuters, and further accelerate the adoption automotive cabin air quality sensors. Technologies, such as SIFT-MS (Selected Ion Flow Tube Mass Spectrometry), which enables real-time detection of VOCs are gaining traction in the global automotive cabin air quality sensors market.

Economical sensor-integrated HVAC systems that are benefiting from advanced cabin comfort technologies—equipped with avant-garde detection features, are slated to create lucrative research and development opportunities in automotive cabin air quality sensors market.

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Mast Cell Tumors Treatment Market to Undertake Strapping Growth During 2022-2032 | Merck & Co. Inc., Pfizer Inc., Mylan NV

The global mast cell tumors treatment market growth is expected to reach US$ 5.1 Billion in 2022 and US$ 7.9 Billion in 2032. It is projected to exhibit growth at a remarkable CAGR of 3.6% in the forecast period from 2022 to 2032. The increasing diagnosis rate of this condition among pet animals is anticipated to spur the demand for mast cell tumors treatment options in the forthcoming years.

Mast cells are referred to as a type of white blood cell that is primarily found in several tissues of the body. These are considered to be allergy cells that play a significant role in the allergic response.

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Mast cells often release compounds and chemicals, which is a process called degranulation when exposed to allergens. Histamine, which is one of the compounds, is commonly known to cause runny nose and eyes, sneezing, and itchiness.

A mast cell tumor, on the other hand, is a type of malignant tumor that forms nodules in the skin. It can also affect other parts of the body, such as the bone marrow, intestine, liver, and spleen. It is very common in dogs and most dogs living with this condition develop only one tumor.

Which are Some Prominent Drivers Spearheading Mast Cell Tumors Treatment Market Growth?

The availability of data regarding the disease is projected to augment the global mast cell tumors treatment market growth in the assessment period. The treatment approach towards this disease is expected to improve with the easy availability of data.

In addition to that, increasing awareness regarding mast cell tumors through social media platforms, non-government and government agencies, and advocacy groups is set to accelerate the growth in this market. The improved treatment seeking rate and better rate of diagnosis are a couple of other factors that are likely to drive the market.

What are the Challenges Faced by the Mast Cell Tumors Treatment Industry?

In emerging countries, such as India, China, Indonesia, Brazil, and Iran, the lack of knowledge regarding various diseases affecting pet animals may hamper the sales of mast cell tumors treatment options. Also, people living in these countries may not be able to afford the expensive treatment options available in hospitals.

Why is North America Emerging as an Opportunistic Mast Cell Tumors Treatment Market?

The increasing prevalence of skin tumors in cats and dogs, especially in the U.S. and Canada is projected to bolster the North America mast cell tumors treatment market share in future years. As per the American College of Veterinary Surgeons (ACVS), mast cell tumors represent around 14–21% of all skin tumors that are diagnosed in dogs. Though these mainly occur in middle aged patients, these sometimes occur in patients of any age group.

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Governments of developed countries in this region are investing huge sums in clinical research activities to help companies in introducing cutting-edge treatment options. Currently, veterinary oncologists recommend surgery to cure lower-grade tumors, while higher-grade tumors are treated with a combination of chemotherapy and surgery.

How is Europe Contributing to Growth of the Mast Cell Tumors Treatment Market?

The rising prevalence of mast cell tumors in pet animals and the increasing awareness regarding the same in the U.K. and Germany are anticipated to bode well for the Europe mast cell tumors treatment market size. According to the 2021 PDSA Animal Wellbeing (PAW) Report, approximately 26% of the population in the U.K. own a dog with an estimated population of 9.6 million pet dogs. Also, 24% of the population in the country own a cat with an estimated population of 10.7 million pet cats. These numbers are likely to surge at a rapid pace, thereby boosting the regional market.

A study published in the National Center for Biotechnology Information (NCBI) mentions that between July 2007 and June 2013, electronic patient records from healthcare professionals participating in the VetCompass animal surveillance project in the U.K. were evaluated for the diagnosis of mast cell tumors. Out of 168,636 dogs, around 453 had this condition. Boxers, golden retrievers, and Weimaraners had the highest prevalence at 1.95%, 1.39%, and 0.85%, respectively. Spurred by the aforementioned factors, the market in Europe is anticipated to surge at a fast pace.

Market Competition

Some of the renowned companies present in the mast cell tumors treatment market include Merck & Co. Inc., Pfizer Inc., EPI Health, LLC, Teva Pharmaceutical Industries Ltd., Bausch Health Companies Inc., Novartis AG, Mylan NV, Bayer AG, Sanofi S.A., and Johnson & Johnson among others.

The global market is moderately competitive and houses numerous key players. With the surging prevalence of mast cell tumors, many companies are striving to come up with novel treatment methods. To do so, they are consistently investing huge sums in exhaustive research and development activities. Meanwhile, a few other start-up companies are aiming to enter the untapped areas to raise awareness and sell their new products to patients.

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Key Companies Profiled

Merck & Co. Inc.
Pfizer Inc.
EPI Health, LLC
Teva Pharmaceutical Industries Ltd.
Bausch Health Companies Inc.
Novartis AG
Mylan NV
Bayer AG
Sanofi S.A.
Johnson & Johnson

Key Segments Profiled in the Mast Cell Tumors Treatment Industry Survey

By Drug Class:

Antihistamines
Epinephrine
Steroids
Mast-cell Stabilizers

By Route of Administration:

Oral
Injectables
Topical

By Distribution Channel:

Hospital Pharmacies
Retail Pharmacies
Drug Stores
Online Pharmacies

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Metal Bellows Market forecast Global Industry Overview and Competitive Landscape till 2032

Metal bellows are flexible elements used in various industrial applications where compression is expected when the pressure is applied from the other side of any elastic vessel. Metal bellows Market Forecast are designed in a way that they compress or expand on the application of pressure, and come back to their original share once the pressure is removed. As they are most commonly used as a part of piping applications, their convolution geometry and thickness are designed according to the temperature and pressure range as well as pipe capacity. In cases where pipes expand due to increases in temperatures, metal bellows act as resistance by limiting the compression by force. Metal bellows are commonly used in various industries such as manufacturing, water treatment, mining, automotive, power generation, and wind energy generation. Though the global metal bellows market is characterised by stringent governmental regulations, end-user preference for metal bellows over its other alternatives is expected to boost the profitability of manufacturers across various regions.

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Demand for Metal Bellows in the Aerospace & Defense Industry to Grow Strong

The adoption of metal bellows in a wide range of end-use industries such as automotive, semiconductor, oil & gas, and pharmaceuticals is significantly high, which is mainly driving the metal bellows market.

However, the demand is relatively higher in the aerospace & defence industry, and this is mainly influencing the growth prospects of the global metal bellows market.

In the past two years, the aerospace & defence industry witnessed a major downfall in commercial aircraft manufacturing and deliveries, which is mainly attributed to the worldwide outbreak of the novel coronavirus. However, the demand for metal bellows in the industry remained fundamentally strong as leading players in the aerospace industry.

Global leaders such as Airbus and Boeing, are known to be holding a significantly large backlog of orders, and this is currently holding up the production activities for these players.

In addition, the industry is witnessing a growing number of new original equipment manufacturers (OEMs) entering the landscape, along with the rising development of fuel-efficient alternatives for conventional elements of commercial aerospace products.

This indicates that the adoption of metal bellows in the global aerospace & defence industry will further bolster the growth of the global metal bellows market in the coming years.

High-Performance Parameter of Metal Bellows over Non-metallic Bellows Trigger Demand

While metal bellows find applications in a wide range of end uses and applications, the use of non-metallic bellows is also significantly high. Non-metallic bellows are a type of flexible connectors manufactured using synthetic or natural fibers.

These are commonly used in applications that are primarily developed to offer stress relief in various industrial end uses – mainly in the piping industry. They are also used in applications involved in mechanical vibrations and thermal movements.

Though both – metal and non-metal bellows are used in distinct applications, based on their performance characteristics, the prior shows advanced parameters that make them suitable for a wider range of applications than the latter.

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Metal bellows are higher in demand than non-metal bellows mainly due to their higher pressure range, temperature range, flexibility in connection types, along with its suitability with various fluids and gases.

With the rugged, multiple layer designs, metal bellows are designed for applications performed in a wide range of temperature range from -420°F to +1800°F. Whereas, non-metal bellows usually suit applications under the temperatures around 230°F, based on the materialist properties of synthetic materials used.

Metal Bellows Market: Region-wise Analysis

Based on the geographical factors, the metal bellows market is broadly segmented into seven regions – North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa.

According to different geographies and specific geopolitical factors, the market for metal bellows is expected to witness incremental growth in the Asia Pacific region.

The region plays an important role in the supply chain operations as most manufacturers have their production centers in developing Asian countries such as China and South Korea. In addition, increasing presence of raw material suppliers, retailers, and metal bellow manufacturers in the region further amplifies the growth potential of the Asia Pacific metal bellows market.

On the other hand, developed regions including North America and Europe, are also expected to create sizable demand for metal bellows with the increasing growth of the market. Developed countries such as the United States along with some countries in Western Europe – Germany, France, and Spain, are expected to contribute to the increasing growth of the global metal bellows market.

In the coming years, the growth prospects of the metal bellows market in Asia Pacific region are expected to improve in the coming years.

Metal Bellows Market: Competitive Landscape

Some of the leading stakeholders in the global metal bellows market include

Servometer EnPro Industries Inc. EagleBurgmann KE Meggitt PLC U.S. Bellows Inc. KSM Corporation Technoflex Corporation BOA Holding GmbH Freudenberg Group MW Industries Smith Group Hyspan Precision Products Inc Meggitt PLC Pebiflex Witzenmann GmbH Triad Bellows Duraflex Inc.

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

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Air Transport MRO Market Emerging Growth Analysis, Future Demand and Business Opportunities 2031 – FMI

In a recent market study, ESOMAR-certified consulting firm Future Market Insights (FMI) projects the global air transport MRO market to reach US$ 72.6 Bn in 2021. With gradually increasing air travel and cargo transport rates, the market is poised to exhibit a 4.8% CAGR during the assessment period.

Sales of air transport MRO services witnessed a downturn in 2020 due to the travel restrictions imposed to contain the novel coronavirus outbreak. However, with resumptions in movement, the market experienced year-over-year growth by 5.0% between 2020 and 2021.

As the pandemic caused various airlines to park aircraft fleets for prolonged periods of time, the demand for air transport MRO services experienced upticks. This has created lucrative opportunities for players operating in the market.

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Apart from this, the emergence of connective technologies such as blockchain, cloud computing, and digital twins in aircraft maintenance will continue driving market growth during the forecast period. MRO service providers are benefitting from launching data-driven MRO solutions and the trend is anticipated to prevail in the forthcoming years.

As per FMI’s regional analysis, the U.S. is anticipated to dominate the North American air transport MRO market. Growth can be attributed to expansions in the aviation industry and stringent government regulations mandating the timely inspection of aircraft for maintenance. Additionally, the presence of leading MRO service providers and OEMs will continue driving developments in the air transport MRO market.

“Product developments by OEMs in collaboration with MRO service providers, coupled with expansion of the aviation industry in emerging economies will continue augmenting market growth through 2031,” says the FMI analyst.

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Key Takeaways:

Applications of air transport MRO in the engine segment are estimated to remain high through 2031.
Based on aircraft type, narrow-body aircraft will dominate the segment.
The U.S. is anticipated to experience high demand for air transport MRO services, owing to the presence of leading players and a vast military and commercial aviation fleet. The North American air transport MRO market is projected to grow at a 4.5% CAGR.
The U.K. will emerge as a lucrative market, owing to growing demand for MRO services in the VIP and private jet sectors. The European market is poised to expand at a 4.0% CAGR.
Demand for air transport MRO will rise at a positive pace in China, due to the addition of new airlines and aircraft fleets.
Japan and South Korea will collectively account for 4.8% of the total market share.

AAR Corporation, Air France Industries KLM Engineering & Maintenance, Delta TechOps (Delta Corporation Ltd, Hong Kong Aircraft Engineering Company (HAECO) Ltd, Lufthansa Technik AG, Turkish Technic Inc., Singapore Technologies Engineering Ltd, Guangzhou Aircraft Maintenance Engineering Company Limited, Sabena Technics, Aeroman, Airbus SAS, and SIA Engineering Company (SIAEC) are among the air transport MRO market players, as profiled by FMI.

Top 5 players comprise Hong Kong Aircraft Engineering Company Limited, Singapore Technologies Engineering Ltd, Air France–KLM, AAR Corp., and Lufthansa Technik AG, holding 11% of the total market share.

As a part of their growth strategies, prominent players operating in the global air transport MRO market are concentrating on mergers, collaborations, and acquisitions to expand their global footprint. For instance:

In May 2021, Lufthansa Technik and Airbus teamed up to offer customers with a reversible cargo-in-cabin solution to satisfy urgent flying and transport requirements easily.
In June 2021, Turkish Technic and Boeing announced the renewal of their tailored package parts agreement, extending the MRO service providers’ contract by three years. The contact will allow Turkish Technic to reinforce its reliability, efficiency, and access to a global market of parts and component services.

Air transport MRO Market by Category

By Application Type:

Airframe
Engine
Component
Line

By Aircraft Type:

Narrow Body Aircraft
Wide-Body Aircraft
Regional Jet
Turbo Prop

By Region:

North America
Latin America
Western Europe
Eastern Europe
China
Japan
India
South East Asia & Others (SEA)
Middle East & Africa (MEA)

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Key Points Covered in Air Transport MRO Market Survey

Market estimates and forecast 2021-2031
Key drivers and restraints impacting market growth
Segment-wise, Country-wise, and Region-wise Analysis
Competition Mapping and Benchmarking
Brand share and Market Share Analysis
Key Product Innovations and Regulatory Climate
COVID-19 Impact on Air Transport MRO Market and how to Navigate
Recommendation on Key Winning Strategies

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Air Suspension Systems Market Challenges, Drivers, Outlook, Growth Opportunities – Analysis to 2031 – FMI

Future Market Insights (FMI) in its latest market analysis estimates that air suspension systems sales will accelerate at the rate of 6.7% CAGR in next ten years, reaching market valuation of US$ 4.6 Bn through 2021 & beyond.

Growing application of heavy trucks for construction activities, logistic and e-commerce industries across China, the U.K., Germany and Japan will bolster the demand of air suspension systems across the globe.

As per the FMI’s analysis, the air suspension systems sales across South Korea and Japan are set to expand at over 4% in 2021. Heavy trucks are anticipated to account for over 54.1% volume share in 2021. Further, trailers segment is estimated to have accounted for nearly 32.1% volume share by the end of 2021.

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Sustainability concerns have pushed the adoption of electric vehicles, accelerating the demand of electric buses as public transport across the globe. Hence, with increasing production of commercial vehicles, the market is expected to propel over the coming years.

FMI estimates that the air suspension systems market will experience a year-on-year growth rate of 5.6% in 2021.

Amid surging competition, the top five players, comprising Saf-Holland, Hendrickson USA LLC, BPW Group, Guangdong Fuwa Engineering Group Co., Ltd., and TMC Australia are expected to account for 40% of air suspension systems market in 2021

Key Takeaways from FMI’s Air Suspension Systems Market Study

In terms of vehicle type, heavy truck will lead the segment through 2021 & beyond on the back of increasing construction activities across Germany, the U.S., and China
OEMs are expected to be the preferred sales channel over the aftermarket players, accounting for over 86.4% value share in 2021
Germany is anticipated to spearhead the growth across Western Europe owing to the surging commercial vehicle production across the country
The U.S is accounted to be one of the most lucrative market across the globe with increasing demand for luxury buses
India and China will lead the growth of air suspension systems across South & East Asia during the forecast period
U.K. will emerge as a highly lucrative market across Europe owing to the increasing construction activities and surge in production of heavy duty vehicles

“Increasing demand for luxury buses across the globe, especially within Germany, China and India, coupled with expansion of construction industry will propel the demand of air suspension systems, widening growth opportunities for the market players,” says the FMI analyst.

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Competitive Landscape

Prominent players operating in air suspension systems market are focusing on expansion of their customer base through product innovation and new launches.

Increasing need for air suspension systems have urged the key players to form strategic alliance with regional distributors. Partnerships with suppliers and aftermarket players will provide incremental opportunities for the key players.

In January 2021, air suspension specialist, Air Lift Company, announced the acquisition of air tank manufacturer Flo Airride Mfg., Flo Airride. Through this acquisition, Air Lift Company will provide air suspension products to lower their vehicles along with the customization of the product.

Tenneco Inc., a global supplier of clean air products and systems, in 2018, announced the launch of CVSA2 semi-active suspension technology, Monroe® Intelligent Suspension, originally developed for the use of sports car, have been adopted for the SUVs and off-road vehicles.

Air Suspension Systems Market by Category

By Vehicle Type:

Buses & Coaches
Trailers
Heavy Trucks

By Sales Channel:

OEM
- Electronic Operated Systems
- Non Electronic Operated Systems
Aftermarkets
- System
- Components

By Region:

North America
Latin America
Eastern Europe
Western Europe
South East Asia
China
India
Japan
Middle East and Africa (MEA)

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Key Points Covered in Air Suspension Systems Market Study

Market estimates and forecast 2021-2031
Key drivers and restraints impacting market growth
Segment-wise, Country-wise, and Region-wise Analysis
Competition Mapping and Benchmarking
Brand share and Market Share Analysis
Key Product Innovations and Regulatory Climate
COVID-19 Impact on Air Suspension Systems Market and How to Navigate
Recommendation on Key Winning Strategies

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Retread Tire Market Key Manufacturers, Development Trends and Competitive Analysis 2031 – FMI

As per a study by Future Market Insights (FMI), the global retread tire sales is estimated to be valued at ~US$ 8.8 Bn in 2021. The increase in average miles driven and growing vehicles parc will drive the tire aftermarket, subsequently fuelling the demand for retreading tires.

Despite negative perceptions around retread tires, they continue remain a highly popular category within automotive aftermarket. Increasing focus on sustainable ways of maintaining cars and curbing vehicular pollution and automotive waste will bode well for the market. Besides this, economical pricing of retread tires have made them a top choice among a large section of vehicle owners.

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According to the report, increasing automobile ownership will remain a chief driver. Besides this the demand for heavy commercial vehicle is expected to rise in response to the expansion of various industries, which will continue supporting the growth of the market.

Commercial vehicles often find application in construction and mining activities. Logistics sector too exhibit high demand for commercial vehicles. It might not be a feasible choice for the industries to frequently replace older vehicles with new ones. With an aim of capping environmental impact of vehicle waste and saving resources, an increasing number of industries are opting for aftermarket services.

Higher focus on maintaining commercial vehicles for a longer period of time will boosting retread tires sales. The report has predicted the heavy commercial vehicles to account for over 44% of sales registered in the market.

Key Takeaways from Study

After registering considerable drop in sales amid COVID-19, the retread tire market will bounce back, exhibiting 4.7% CAGR between 2021 and 2031
The U.S. is expected to account for over 78% of retread tires sales in North America, thanks to rising demand for HCVs across various industries
With vehicle sales picking up, the U.K. retread tire market will register 3.4% Y-o-Y growth in 2021
Increasing vehicle production to continue supporting retread tire market growth in Germany and France
Favorable policies aimed at reducing automotive waste to support expansion in China

“Retread tire sales are picking up in response to higher focus on maintaining vehicles. While focus on maintenance remains high among heavy commercial vehicle owners, retread tires are gradually making inroads into off road vehicle segment. To capitalize on these opportunities manufacturers are likely to focus on expanding their footprint around the world,” said a lead analyst at FMI.

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Retread tire Market

By Vehicle Type

Passenger cars
LCV
HCV
Off-Road Vehicle

By Process

Pre-cure
Mold cure

By Sales Channel

OEM
Independent Service Provider

By Region

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

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Competitive Landscape

Some of the leading players in the market Bridgestone Corporation, The Goodyear Tire & Rubber Company, JK Tyres, Michelin, Continental AG, MRF, Yokohama Rubber Company, Carloni Tires, and Nokian Tyres. With price competition getting fiercer, these companies are adopting unique strategies to establish their brand awareness.

For instance, in 2019, Bridgestone Americas, Inc. announced an industry-wide campaign to educate small to medium fleet owners about the benefits of retread.

In 2018, TravelCenters expanded their commercial tire services to professional drivers with the acquisition of a commercial tire retread plant.

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Crane Motors Market Forecast – Key Players are Adopting Different Growth Strategies to Maintain Their Global Dominance

In the report, Future Market Insights (FMI) offers insights into both shortcomings and forthcomings of the Crane Motors market forecast. It outlines the growth curve of the Global Crane Motors market. The study provides information on hidden opportunities and share held by various segments within market.The report offers granular assessment of key growth drivers, promising avenues, and competitive landscape of the global Crane Motors market.

Key statistics and information, in terms of value and volume, is covered in the report. It offers in-depth insights into factors driving growth in established and emerging market. It studies the competitive landscape in details to help players with necessary insights to navigate through potential challenges.

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Over the past decade, consumer products have been advancing with the emergence of digitization across the globe. With the change in consumer preference towards online markets, companies are changing their go-to market strategies and capabilities in response.

Industry players are adjusting themselves according to the ‘digital age’ and are increasing their reliance on online channels as a mean to attract consumers. Penetration of e-commerce in consumer products industry has brought quite remarkable changes through various digital platforms. The market report study gives detailed views on the current situation.

Understanding the Impact of Covid-19 on Global Crane Motors Market

The recent outbreak of the COVID-19 has adversely affected various markets in the consumer products industry. Penetration of Artificial Intelligence and Big Data Science in the industry is expected to have a positive impact on the market.

Following government’s measures, consumers are practicing social distancing. Consequently companies operating in the Crane Motors market had to adjust to a new normal of operating through digital means. Additionally, movement restrictions and supply chain disruptions have created impressive growth opportunities for the e-market players.

The FMI’s report provides an interesting chapter on preliminary impact of the COVID-19 on the Crane Motors market. This allows both leading and emerging key players to understand the market scenario and aid them to tackle the challenges during the crisis.

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Crane Motors Market: Segmentation

Globally, the catalyst bins market is segmented by material, storing capacity, end users and lifting approach.

By Motor Type:

DC Motors
AC motors

By Safety Type:

EXd Type
Increased-Safety Type
Others

By Crane Type:

Single Girder Overhead
Double Girder Overhead
Workstation
Others

Crane Motors Market: Competition Analysis

The FMI’s study presents a detailed analysis of global, regional, and country-level players operating in the Crane Motors market. Competitive information detailed in the Crane Motors market report has been based on innovative product launches, distribution channels, local networks, industrial penetration, production methods, and revenue generation of key market players. Furthermore, unique growth strategies and mergers & acquisitions (M&A) activities associated with the players are also discussed in the Crane Motors market report.

Key players covered in the report include:

Toshiba Corporation
ABB Ltd
Siemens AG
WEG SA
Regal Beloit
Hyosung Ltd
Nidec Corporation
TECO- Westinghouse

Crucial Questions Answered in the Crane Motors Market Report

What are some of the latent areas of investments in the global Crane Motors market?
Which region is expected to emerge as the most attractive market during the forecast period?
What trends are likely to change the status quo of the positions held by prominent players in the Crane Motors market?
What are the unique strategies adopted by Crane Motors market players to stay dominant in the industry?
What are the challenges the global Crane Motors market is expected to witness in the forecast period?

Key Offerings of the Report

Growth Drivers and Challenges: Comprehensive analysis on growth-driving factors and challenges for market players in different regions
Recent Trends and Forecasts: Detailed assessment on the latest trends, technological developments, and forecasts for a 5-year or 10-year period.
Segmentation Analysis: Extensive analysis on each segment and factors differentiating the role of these segments in market revenue forecasts and growth rate analysis
Regional Market Forecast: Comprehensive analysis of each regional market to arm stakeholders with necessary information to take critical decisions
Competitive Landscape: All-inclusive details on both leading and emerging players vying for a slice of the Crane Motors market

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Automotive Composites Market Size, Analysis, Top Players, Target Audience and Forecast to 2029

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

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

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Key Takeaways from Global Automotive Composites Market

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

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

Automotive Composites Market Participants

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

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

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AUTOMOTIVE COMPOSITES MARKET TAXONOMY

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

Material

Glass Fiber Composite
Natural Fiber Composite
Carbon Fiber Composite
Aramid Fiber Composite
Others

Resin

Thermoplastic
Thermoset

Application

Interior
Exterior
Underbody
Chassis
Power Train
Engine Components

Vehicle Type

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