Market Research Blog – Page 865 – New Product Development

Automotive Trailer Drawbar Market Set to Reach USD 753.2 Million by 2034, Growing at a 9.3% CAGR | FMI Reports

The global automotive trailer drawbar market is expected to reach USD 309.5 million by 2024, with a projected CAGR of around 9.3% from 2024 to 2034. By 2034, the market is estimated to be valued at USD 753.2 million.

The growing demand for automotive trailer drawbars is closely tied to the expansion of the global towing industry, serving both recreational and commercial needs. Trailer drawbars, commonly referred to as tow bars or hitches, play a crucial role in connecting trailers to vehicles for efficient and secure towing.

Key sectors such as agriculture, construction, and logistics are driving the rising demand for trailers globally. Additionally, the increasing popularity of recreational activities like boating and camping is contributing to the need for reliable and versatile trailer drawbars.

Technological innovations and evolving regulations are expected to shape the future of the market, with manufacturers developing new features such as integrated safety systems, quick-release mechanisms, and adjustable heights to enhance the safety and functionality of trailer drawbars.

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Market Competition

Major players operating in the global market are increasingly focusing on new product development by investing more in research activities. A few other companies are aiming to tie up with renowned automotive manufacturers, construction firms, and transportation equipment suppliers to broaden their distribution network in various parts of the globe.

Leading Key Players:

Distag QCS (UK) Ltd.
ALOIS KOBER GMBH
Red Rock Manufacturing
Nooteboom Trailers
The Cartwright Group
BPW Bergische Achsen
Premier Manufacturing Company

Automotive Trailer Drawbar Market: Regional Outlook:
North America is expected to hold the prominent market share throughout the forecasted period owing to rapid development in the transportation and logistics in the U.S. and Canada. However, emerging economies such as China, India, Turkey is witnessing the increasing usage of commercial vehicles. Increasing usage of the commercial vehicles are expected to accelerate the growth of the automotive trailer drawbar market. Additionally, the rising infrastructure activities and the growing investments by governments in respective regions are anticipated to bolster the global automotive trailer drawbar market in the near future.

Developed nations such as The U. S., Germany, The U. K., Canada demands for the fast and efficient road transportation. This factor will likely to affect the growth of the automotive trailer drawbar market positively. The Asia Pacific region is expected to witness maximum growth in the automotive trailer drawbar owing to increasing trade volume in the respective regions.

Automotive Trailer Drawbar Market Segmentation:

By Design Type:

Straight Drawbar
Compound Drawbar
‘A’ Frame Drawbar

By Vertical Load Carrying Capacity:

Less than 4500 Kg
4500 Kg – 7000 Kg
More than 7000 Kg

By Sales Channel:

Original Equipment Manufacturers (OEMs)
Aftermarket

By Vehicle Type:

Passenger Cars
Commercial Vehicles
Light Commercial Vehicles (HCV)
Heavy Commercial Vehicles (LCV)

By Region:

North America
Latin America
Western Europe
Eastern Europe
APEJ
Japan
Middle East and Africa

About Future Market Insights (FMI)

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

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Automotive Sparking Cable Market Projected to Reach USD 945.4 Million by 2032, Growing at an 11.6% CAGR | FMI Reports

The global automotive sparking cable market is anticipated to reach USD 782.9 million by 2022, with a projected CAGR of 11.6% from 2022 to 2032. By 2032, the market is expected to be valued at USD 945.4 million, according to FMI.

Automotive sparking cables are crucial for delivering the necessary voltage to spark plugs with minimal energy loss. These cables operate through systems like electronic ignition coils, spark distributors, or ignition modules. The main objective is efficient, low-loss energy conduction, requiring effective interference attenuation to avoid disruption to communication devices, radios, and control units for engines and gearboxes.

As automotive technology advances, sparking cables are now required to have high dielectric strength, temperature resistance, and mechanical durability. Modern manufacturers focus on providing solutions that offer reliable interference suppression, along with resistance to acids, petrol, oil, and salt water.

The market is driven by a strong presence of both premium and budget-friendly sparking cable distributors and manufacturers. The growth of the automotive sector, continuous innovations, and the rising demand for automotive electronics present significant growth opportunities. However, challenges such as complex value chains and strict safety regulations may hinder the market’s expansion during the forecast period.

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Automotive Sparking Cables Report Highlights:

Detailed overview of parent market of the Automotive Sparking Cables market
Changing Automotive Sparking Cables 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 in Automotive Sparking Cables
Automotive Sparking Cables market competitive landscape
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on market performance
Must-have information for market players to sustain and enhance their market footprint

Automotive Sparking Cable: Market Key Players

Some of the major participants operating in the global automotive sparking cable market include, NGK SPARK PLUG; ACDelco; Motorcraft; MSD Spark Wires; Holley Performance Products; Taylor Cable Products, Inc.; DENSO; and EDELBROCK, LLC., among other automotive sparking cable vendors.

The Automotive Sparking Cables research report presents a comprehensive assessment of the Automotive Sparking Cables market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Automotive Sparking Cables research report provides analysis and information according to market segments, such as geographies, application, and industry.

Automotive Sparking Cable: Regional Market Outlook

Strong investments made by automotive sparking cable manufacturers and initiatives incorporated by governments and other automotive equipment integrators in order to ensure safety and enhance vehicle standards are estimated to enable the automotive sparking cable market in Asia Pacific to register the highest growth rate among all the regional markets, during the forecast period. Currently, the automotive sparking cable market in Western Europe holds the largest market share of the global automotive sparking cable market. This market dominance may be attributed to the continuous supply and demand for enhanced transportation systems. Growing integration of ecological technologies modules is also anticipated to drive the automotive sparking cable market in Western Europe. Ever-rising electrification in the automobile sector is expected to propel the growth of the North American automotive sparking cable market during the forecast period. However, design related complications are estimated to challenge the growth of the automotive sparking cable markets in all the regions.

Key Segments Profiled in the Automotive Sparking Cable Industry Survey

By Automotive Design:

Mechanical Spark Distributor and Distributor Cap
Electronic Ignition Module
Electronic Double Spark Ignition or Semi-Direct Ignition Coil

By Cable Type:

Magnetic Resistance Cables
Distributes Resistance Cables
Fixed Resistor Cables
Other Automotive Sparking Cable Types

By Sales Channel:

OEMs
Aftermarket

By Region:

North America
Latin America
Western Europe
Eastern Europe
APEJ
Japan
Middle East and Africa

About Future Market Insights (FMI)

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

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Automotive Spacer Ring Market Forecasted to Reach USD 853.2 Million by 2032, Growing at a 15.5% CAGR | FMI Reports

The global automotive spacer ring market is expected to reach USD 565.5 million by 2024, with a projected Compound Annual Growth Rate (CAGR) of 15.8% during the forecast period, eventually attaining a value of USD 2,451.9 million by 2034.

Automotive spacer rings are highly valued for creating a gap between the wheel hub and the rim, ensuring proper alignment and spacing between components, which is crucial for vehicle safety and performance. Typically made from metal or durable plastic, these rings are designed to endure high loads and stresses encountered in vehicles.

By preventing direct contact between press-fitted components, spacer rings reduce wear and tear, prolonging the lifespan of the parts and improving overall vehicle performance. Additionally, they allow better airflow through the exhaust system, further enhancing efficiency.

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Key Takeaways from the Automotive Spacer Ring Market Report:

With the increased usage of automotive spacer rings in dual pipe exhaust systems, wheel mounting, and camshaft, the demand for automotive spacer rings is anticipated to grow at a rapid pace in the upcoming years.
The ability of automotive spacer rings to maintain a particular distance between two intermediate auto parts is another vital factor that is set to spur growth in the global market.
Automotive spacer rings are designed to divide two parts of a vehicle in order to gain the desired output due to which they are considered to be a secondary component in automobiles.
The easy availability of automotive spacer rings made of numerous materials, such as nickel bronze, aluminum, and stainless steel is expected to augur well for the global market.
Spike in sales for the automotive spacer rings market is projected owing to the increasing demand for passenger cars and commercial vehicles across the globe.
The rising per capita income of people in developing countries and increasing usage of luxury passenger cars in developed countries for high levels of comfort are also expected to propel the market.
The surging number of e-commerce and construction activities all over the world are anticipated to push the need for smooth material transportation. With an increase in the sales of commercial vehicles, the global automotive spacer rings market is also propelling.

Competitive Landscape:
Sick AG, WADE Drains, Crane Cams, Mondello Performance Products, Inc., KnitMesh Technologies, SPIROL, Eaton Corporation, Competition Cams, Inc., ARaymond, L. Huyett (Shims) are some of the key companies profiled in the full version of the report.

Leading players in the global market are increasingly focusing on research and development activities to launch new products and expand their customer base. Some of the other key players are aiming to broaden their manufacturing facilities, as well as join hands with start-up companies to develop innovative products in the market.

More Insights into the Automotive Spacer Ring Market:
According to FMI analysis, North America is projected to dominate the global automotive spacer ring market, accounting for the largest share in the evaluation period.

Government regulations imposed in the U.S. and Canada are forcing the automotive industry to cut short the greenhouse gas emissions and tackle carbon emission problems caused by diesel fuel combustion. Therefore, automakers are investing more in the development of electric trucks to replace diesel trucks.

A leading automotive company exhibited its latest North American Class 8 battery-electric project trucks at an exclusive event in California. The company is planning to sell its electric trucks across North America for construction operations, as well as urban transportation. Owing to the increasing number of new product launches in the United States is anticipated to auger well for the market.

The ongoing expansion of the industrial automation sector in developing countries like India and China is one of the crucial factors that will auger the demand for spacer rings in the Asia Pacific.

The rising shift of several goods transportation companies towards electric propulsion-based vehicles owing to the adoption of green transportation systems is also likely to aid growth.

Rising government initiatives in terms of tax rebates and subsidies are anticipated to drive high sales of commercial vehicles across the Asia Pacific region. The overall commercial vehicle sales grew from 568,559 to 716,566 units. These numbers are expected to increase at a rapid pace in India, thereby fostering the Asia Pacific market.

Automotive Spacer Ring Market Segmentation:

By Vehicle Type:

Passenger Car
Mid-size
Compact
Luxury
SUVs
Light Commercial Vehicle
Heavy Commercial Vehicle
Electric and Hybrid Vehicle
Two Wheelers
Scooters
Motorcycles

By Material Type:

Nickel Bronze
Stainless Steel
Carbon Steel
Stainless Steel
Aluminum
Brass & Copper

By Sales Channel:

Original Equipment Manufacturer (OEM)
Aftermarket

By Region:

North America
Latin America
Western Europe
Eastern Europe
APEJ
Japan
Middle East and Africa

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Turbofan Engines Market Expected to Grow at a 17.2% CAGR, Projected to Reach USD 5.1 Billion by 2032 | FMI Reports

The turbofan engines market was valued at USD 1.05 billion in 2022, experiencing a 6.3% year-on-year growth. The market is forecasted to expand at a robust Compound Annual Growth Rate (CAGR) of 17.2% from 2022 to 2032, reaching an estimated USD 5.1 billion by the end of the forecast period.

Strong demand is expected to continue in the commercial sector, particularly for wide-body aircraft engines. North America is anticipated to lead the turbofan engines market throughout the assessment period, maintaining its dominant position.

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Keys to success for Turbofan Engine Market Growth

With rapid urbanisation and global passenger traffic, an accelerated and more comfy mode of transportation is obligated. To encounter this demand, the airline business is growing at a rapid pace. A rapid way to transport goods is also required by the burgeoning transportation sector.

The most effectual mode of transportation is air transport. As the airline industry expands, so does the demand for new innovations and fuel-efficient engines. This factor is believed to have a promising potential the turbofan engines market during the forecast period.

Demand for next-generation engines and technological improvements are intensifying in the military sector, which is expected to increase market pressure for turbofan engines over the forecast period.

Key Takeaways

The turbofan engines market increased by 6.3% year on year over the last year.
The APAC turbofan engines market is expected to exceed US$ 16 billion by 2032, growing at a 5.3% CAGR over the forecast period.
Wide-body aircraft are expected to be in high demand in Asia-Pacific markets due to their ability to carry large loads over long distances.
The commercial segment is expected to be the largest and fastest-growing segment, owing to rising demand for technologically advanced engines to replace conventional engines.

Competitive Landscape

The turbofan engines market is much consolidated, with a few companies influencing a substantial portion of total output. GE Aviation, a division of General Electric Company, is a major manufacturer of turboprop and jet engines. The company is expected to dominate the global market due to its superior product technology and diverse product portfolio.

Rolls Royce Holdings Plc., Safran SA, CFM International SA, and others are also market leaders. The key strategy implemented by the turbofan engines market’s major players is the introduction and modernization of advanced technology in order to offer a more diverse product portfolio to their customers.

Key Companies Profiled

GE Aviation
Rolls-Royce Plc.
United Technologies Corporation – Pratt & Whitney Division
CFM International
Engine Alliance LLC
International Aero Engines
Williams International
SE Ivchenko-Progress
United Engine Corporation
EUROJET Turbo GmbH
IHI Corporation
Safran SA

Recent Development

Saudi Arabian Airlines has awarded CFM International, a joint venture of General Electric and Safran Aircraft Engines, a contract for CFM International LEAP-1A engines to power its new fleet of 35 Airbus A321neo and 30 Airbus A320neo planes.
The US Air Force awarded GE Aviation a USD 1.58 billion contract to supply F110 engines for the Boeing F-15EX Eagle II in October 2021. As a result of this decision, GE to be the sole propulsion source for the US Air Force’s entire planned F-15EX fleet.

Key Segments Covered in the Turbofan Engines Industry Survey

Turbofan Engines Market by Type:

Wide Body Aircrafts
Narrow Body Aircrafts

Turbofan Engines Market by End Use:

Turbofan Engines for Commercial Aircrafts
Turbofan Engines for Transportation Aircrafts
Turbofan Engines for Business Jets
Turbofan Engines for Military Aircrafts
Turbofan Engines for Transport Aircrafts
Turbofan Engines for Fighter Jets

Turbofan Engines Market by Region:

North America Turbofan Engines Market
Latin America Turbofan Engines Market
Western Europe Turbofan Engines Market
Eastern Europe
APEJ Turbofan Engines Market
Japan Turbofan Engines Market
Middle East & Africa Turbofan Engines Market

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

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Used Bike Marketplace Sales Projected to Reach USD 68 Billion by 2032, Growing at a 4.6% CAGR | FMI Reports

The sales of used bikes through bike marketplaces are expected to witness steady growth, with an average Compound Annual Growth Rate (CAGR) of 4.6% during the forecast period. This growth is driven by increasing awareness of bike marketplace platforms, leading to a significant rise in sales from USD 43 billion in 2022 to USD 68 billion by 2032.

Consumers are attracted to used bike marketplaces due to the affordability of second-hand bikes, which typically require less maintenance compared to new models. Additionally, worsening traffic conditions in urban areas are playing a crucial role in boosting used bike market trends, as the growing number of daily commuters look for cost-effective transportation options.

The used luxury bike segment is particularly strong in marketplace sales, offering higher profit margins for vendors. Moreover, the involvement of Original Equipment Manufacturers (OEMs) in the sale of used bikes through these platforms has increased, driven by higher commissions for market players.

However, the report also highlights potential regulatory challenges, as public administrations are increasingly imposing constraints on the environmental impact of older vehicles. With many regulatory bodies mandating limits on the lifespan of vehicles to control emissions, this could present a significant hurdle to the growth of bike marketplaces during the forecast period.

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Key Takeaways

The historical size of the global used bike marketplace in the year 2021 is estimated to be around USD 38.2 Billion.
The yea-on-year growth rate of the used bike marketplace is found to have improved from that of 4% recorded during the time period covering 2017 to 2021.
On the basis of distribution channel, customer to customer method of business is the dominating segment with 62.8% contribution.
Imported bikes accrue almost 63% of the total sales of used bikes through bike marketplace achieved by the global market.
Bikes with an engine capacity ranging between 150 CC to 200 CC is figured out to be the highest selling segment for the sales ofused bikes through bike marketplace.
In consistent with the fact, super bikes are the most popular segment with 25.2% market share and higher profit margin for the sales ofused bikes through bike marketplace.
Used electric bikes for sale through marketplaces has surfaced to be rapidly gaining traction against petrol bikes, by acquiring nearly 31.7% of the total market in a very short time.

Competitive Landscape

Some of the market key playersincludes Droom, CredR, Bikedekho, Bikewale, Mahindra First Choice, Bikers Highway, OLX, Quicker, Use Motorcycle Store, and Bicycle Bluebook among others.

Key Segmentations

By Distribution Channel:

Customer to Customer
Business to Customer

By Source:

Domestic Bikes
Imported Bikes

By Engine Capacity:

Up to 100 CC
100 to 110 CC
110 to 135 CC
135 to 200 CC
Above 200 CC

By Type:

Computer
Off-Roading
Sports
Super Bikes
Cruiser Bikes
Others

By Propulsion:

Petrol
Electric

By Region:

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

Recent Developments

CredR is a well-known used bike sales online website that has pledged to deliver used bikes to the homes of its customers by the year 2020. Consequently, CredR Care has now become associated with the on-demand doorstep bike service sector that it provides as a result of this new business approach.

Triumph Motorcycles, based in the United Kingdom (UK), has announced the launch of a used premium bike programme especially for the Indian market and consumers in 2019. In addition, the company also wants to provide clients financing alternatives for its reconditioned or refurbished products to further attract potential buyers.

About Future Market Insights (FMI)

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

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Accelerating Growth: Electric Vehicle Sensor Market Anticipated to Reach USD 49,392.50 Million by 2034, Growing at a 16.5% CAGR | FMI Reports

The electric vehicle sensor market is expected to reach a valuation of USD 10,725.11 million by 2024, with its growth closely tied to the increasing number of electric vehicles (EVs) on the road. As sustainability gains momentum, the EV sensor market is thriving alongside the growing electric vehicle sector.

The industry is projected to grow at a robust CAGR of 16.5% through 2034. This surge is largely driven by the rising adoption of luxury electric vehicles, fueled by consumer demand for automation and comfort. EV sensors, particularly those integrated with advanced driver assistance systems (ADAS) and autonomous driving systems, are improving the overall convenience and usability of EVs, boosting market expansion during the forecast period.

By 2034, the electric vehicle sensor market is anticipated to reach USD 49,392.50 million. As consumers become more knowledgeable about electric vehicles, advancements in EV sensor technology are gaining importance. Battery sensors, which provide enhanced safety features, are expected to significantly contribute to the market’s growth.

Key drivers of this expansion include position sensors, temperature sensors, and other sensor varieties that assist with lane changes, parking, and various driving needs, all of which are contributing to the market’s positive outlook.

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Key Takeaways from the Electric Vehicle Sensor Market

The Electric Vehicle Sensor market is expected to be USD 10,725.11 million in size in 2024.
Position sensor is the top product type in the market. Position sensors are expected to account for 42.9% of the market share in 2024.
OEMs are the predominant sales channel. For 2024, OEM sale is anticipated to account for 93.0% of the market share.
India is expected to be a promising country in terms of progress for the market. The country is forecasted to have a CAGR of 18.8% from 2024 to 2034 in the market.
South Korea and Australia are poised to be lucrative countries for the market. For the forecast period, the CAGR for South Korea and Australia is predicted to be 17.9% and 18.2% respectively.
The market is expected to progress at a CAGR of 17.1% in Spain through 2034.

“With government help in addition to increased private funding, the EV sector is thriving. Components of EVs are no different and thus the Electric Vehicle Sensor market represents significant potential for investors,” – says an analyst at FMI.

Competition Analysis of the Electric Vehicle Sensor Market

Large multinational companies hold a significant share of the market, although the doors are not shut off for new entrants and startups. Partnerships with EV manufacturers are being sought to ease the sale process. Some of the prominent companies in the market include Analog Devices Inc., Denso Corporation, Amphenol Advanced Sensors, and Infineon Technologies AG

Key Players

Analog Devices Inc.
Denso Corporation
Amphenol Advanced Sensors
Infineon Technologies AG
Allegro MicroSystems, LLC
AMS Osram AG
Kohshin Electric Corporation
LEM
Renesas Electronics Corporation
Sensata Technologies
STMicroelectronics
Melexis
Texas Instruments Incorporated
Vishay Intertechnology, Inc
NXP Semiconductors NV

Recent Developments in the Electric Vehicle Sensor Market

In January 2024, the Xensiv TLI5590-A6W magnetic position sensor from Infineon was launched.
In April 2022, it was announced that Denso Corporation’s sensors had found a place in two new electrical vehicles, the Toyota bZ4X and the Subaru Solterra.

Key Segmentations

By Product Type:

Temperature Sensors
Current Sensors
Position Sensors
Pressure Sensors
Speed Sensors

By Sales Channel:

OEM
Aftermarket

By Propulsion:

Battery Electric Vehicles (BEVs)
Hybrid Electric Vehicles (HEVs)
Plug-In Hybrid Electric Vehicles (PHEVs)

By Region:

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

About Future Market Insights (FMI)

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

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Three-Wheel E-Scooter Market Projected to Grow at a 2.4% CAGR, Reaching USD 1,361.4 Million by 2034 | FMI Reports

The global three-wheel e-scooter market is expected to reach USD 1,074 million by 2024 and grow at a CAGR of 2.4%, reaching around USD 1,361.4 million by 2034.

Three-wheel e-scooters are gaining popularity worldwide due to their user-friendly design and added stability from the extra wheel compared to traditional two-wheel models. These scooters offer greater balance, making them appealing to adults, children, and beginners who may otherwise struggle with two-wheelers. They also reduce the risk of tipping, especially on uneven terrain or during sharp turns.

Manufacturers are increasingly focusing on producing three-wheel e-scooters with lithium-ion batteries to attract more customers. The price of these batteries has significantly dropped, from over USD 1100 in 2010 to around USD 156 in 2020, with expectations for further reduction to USD 100 by 2023. This decline is driven by rising demand for electric vehicles and ongoing research to improve battery life. In contrast, lead-acid batteries have a shorter lifespan and lower energy density, leading consumers to prefer the more cost-effective lithium-ion alternatives.

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KEY TAKEAWAYS:

The European three-wheel e-scooter market will command the largest portion of the market. The rapid development of infrastructure and the industrialisation of new technologies are boosting the growth of the European demand for three-wheel e-scooter.
In 2019, the 36V segment accounted for more than 60% of the three-wheel e-scooter market’s The 36V battery segment’s supremacy can be ascribed to its strong power output and compatibility with electric scooters.
Retro is predicted to be the most profitable area based on application. This is related to a move toward green vehicles for short-distance travel.
Due to its durability and low cost, sealed lead-acid batteries dominated the industry in 2021, accounting for about 62 percent of total sales of three-wheel e-scooter.

Key Players

Invacare
Afikim Electric Vehicle
Hoveround Corporation
Pride Mobility Products
Sunrise Medical Inc.
VAN OS Medical UK Ltd
Energica Motor Company S.p.A.
EV Rider LLC
UK Mobility Group Ltd
Golden Technologies
MERITS Co. Ltd
Hero Moto Corp

RECENT DEVELOPMENT:

Due to increased demand, Hero Electric (India) increased the capacity of its new production facility in Ludhiana (India) in September 2021. By Q2 2022, the company has increased production capacity from 1 lakh to over 5 lakh automobiles.
In August 2020, Okinawa Autotech introduced the R30, a low-speed electric scooter with a top speed of 25 kilometres per hour.

Key Segmentations

Battery Type:

Li-Ion
Ni-Mh
Lead Based
Others

Technology:

Plugin
Battery

Price Range:

Below USD 200
USD 200 – 375
USD 375.1 – 750
USD 750.1 – 1100
Above USD 1,100

Distribution:

OEM
E-Commerce
Others

End Use:

Personal
Rental
Law Enforcement

About Future Market Insights (FMI)

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

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Weathering the Storm: Waterproof E-Scooter Market Expected to Reach USD 8.3 Billion by 2032, Growing at a 5% CAGR | FMI Reports

The waterproof e-scooter market is projected to grow at a 5% CAGR, with its value rising from USD 5.1 billion in 2022 to USD 8.3 billion in the coming years. According to FMI research, over 71% of e-scooter models now have water resistance features, up from just 40% in 2021, leading to a boost in sales.

This growth is expected to accelerate, with waterproof e-scooters seeing the fastest sales increase. Enhancements such as better speed and range, a sturdier stem clamp, fourth-generation frames, updated multi-switches, turn signals, motorcycle-grade horns, dual-purpose footrests, and larger rubber decks are driving demand. Some models, like those reaching 62 mph, are competing with high-performance vehicles, further fueling interest in waterproof options. Models like the Dualtron Thunder 2, offering up to 106 miles of range with a high-capacity battery, contribute to the market’s rise, with high-quality battery cells improving energy density and efficiency.

Brands like Xiaomi, Ninebot, and Aovo offer a range of waterproof e-scooters, enhancing revenue as awareness of weather patterns and fuel costs grows.

However, a key challenge persists: no e-scooter on the market is entirely waterproof. While many are water-resistant and can handle rain and snow, consumer demand is increasingly focused on fully waterproof models that can cover longer distances, which remains a major hurdle for the market’s expansion.

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KEY TAKEAWAYS:

By type, two wheel category is expected to lead the waterproof E-Scooter market during the forecast period.
By IP rating, IP65 category dominated the waterproof E-Scooter market, due to its durability to last in every climate.
During the forecast period, the OEM segment is expected to dominate the waterproof E-Scooter market.
With the rising popularity of waterproof E-Scooters and increased spending on waterproof E-Scooter, the United States leads the market.
China waterproof E-Scooter market is forecast to grow at a highest CAGR of 18.7 during the forecast period.
Japan waterproof E-Scooter market is expected to develop rapidly in the global waterproof E-Scooter industry with a CAGR of 13.5% from 2022 to 2032.

COMPETITIVE LANDSCAPE:

Key companies profiled in the waterproof E-Scooter market report include Xiaomi Corporation, Voro Motors, Segway, Apollo Scooters, GOTRAX, Aovopro , INOKIM, and KAABO.

Many players in the waterproof E-Scooter market are focusing on launching stores in several countries as part of a joint venture strategy to expand their global reach. To extend their market share, leading market players are focused on various growth strategies such as research and development, mergers and acquisitions, and the launch of new waterproof E-Scooters.

Key Segmentations

By Product Type:

Unicycle
Two Wheeler
Three Wheeler

By Wattage:

Up to 250 Watt
250 to 450 Watts
450 to 700 Watts
Above 700 Watts

By Battery Health:

Healthy
Good
Bad
Worst

By Distribution Channel:

OEM
E-Commerce
Others

By Type:

Lithium Ion Battery
Sealed Lead Acid Batteries
Nickel Metal Hydride Batteries
Others

By Regions:

Asia Pacific
North America
Europe
Middle East & Africa
Latin America

RECENT DEVELOPMENT:

Partnerships, Product Launches, Collaborations, and Agreements:

Xiaomi released the Mi Electric Scooter Pro 2 in 2021. It’s a customized Mercedes-AMG Petronas F1 Team Edition with a top speed of 25 km/h and a range of 45 kilometers.
In 2022, Aovo launched Aovo M365. It has a large and intelligent battery of 10.4 AH and a 350 W motor. Its brushless motor is one of its distinguishing features. This motor may easily allow your M365 Pro to go 30 to 35 kilometers after charging it 100 percent.

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

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Used E-Scooter Market Expected to Hit USD 979.5 Million by 2034, with a Growth Rate of 3.2% CAGR | FMI Reports

According to a study by FMI, the used e-scooter market was valued at USD 714.8 million in 2024 and is projected to grow to USD 979.5 million by 2034, with a compound annual growth rate (CAGR) of 3.2%.

The shift towards electric vehicles, driven by environmental concerns, technological advancements, and cost-effective fuel solutions, is boosting sales of used e-scooters in new regions.

Key trends in the used e-scooter market include the expansion of electric vehicle components and the optimization of e-scooter transmission systems.

Competitive pricing, cashback offers, and online platforms offering detailed product analyses tailored to specific industries are further driving demand for used e-scooters across multiple regions.

Manufacturers are adopting cutting-edge technologies such as Artificial Intelligence (AI), Machine Learning (ML), and the Internet of Things (IoT) to make e-scooters more advanced and future-ready.

Government incentives, such as subsidies for electric vehicles, are also playing a key role in expanding the used e-scooter market, allowing it to reach new regions.

However, the market was negatively impacted by the COVID-19 pandemic, which led to the shutdown of manufacturing, research and development activities, and retail operations, affecting sales.

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KEY TAKEAWAYS:

Asia pacific is one of the highest growing regions for used E-Scooter market as developing country like India is booming at the CAGR 12.8% between 2022-2032while Brazil thrives at a CAGR of 9.5% through 2032.
Europe also share its fare amount of share in the used e-scooter market as European countries pledge to limit their carbon emissions. Governments run awareness initiatives so that citizens adopt electric vehicles. This drives more traction for used e-scooter market.
Lithium-ion battery is the biggest segment in the battery type category of used e-scooter market and will be the largest portion in the forecast period, owing to factors like high-performance delivery, longer shelf life and easy installation.
The two-wheeler segment is the largest segment and will hold the biggest portion of the market in the forecast period, attributed to the factors like common and popular use, easy availability and better price ranges coupled with new integrated technologies.
Vehicle manufacturers keep on experimenting with their designs and technology in order to attract the new set of customers, expanding the used e-scooter market.

COMPETITIVE LANDSCAPE:

Some of the used E-Scooter market players profiled in the FMI’s study are xiaomi corporation, glion, voro motors, segway, Apollo scooters, GOTRAX, INOKIM, KAABOO, Razor, Hover and Bird.

The competitive landscape of used E-Scooter is dynamic in nature and allows new competitors to thrive in the market and increase competitiveness. The companies in the market are a part of mergers and collaborations that result in increased distribution channels and market spaces. These companies focus on updating the price ranges, making it accessible to use and increasing the security layers.

Recent Developments in the Used E-Scooter Market

Voro motors have put its new set of refurbished electric scooters at online sale including its latest EMOVE cruiser series, Dualtron and Wolf King with multiple battery options. This pushes the sales of used e-scooter market.
Razor has introduced its used e-scooter series including Eco smart metro and SUP with E300 and E100. This pushes the sales of used e-scooter in the new regions.

Key Segmentations

By Type:

Unicycle
Two Wheel
Three Wheel

By Wattage:

Up to 250 Watt
250 to 450 Watts
450 to 700 Watts
Above 700 Watts

By Battery Health:

Healthy
Good
Bad
Worst

By Distribution Channel:

OEM
E-Commerce

By Battery Type:

Lithium Ion Battery
Sealed Lead Acid Batteries
Nickel Metal Hydride Batteries

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

About Future Market Insights (FMI)

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North America Licorice Extract Market Trends, Growth Drivers, and Future Forecast 2033

As per Future Market Insights (FMI), North America licorice extract market size will increase from US$ 75.4 million in 2023 to US$ 155.9 million by 2033. Overall licorice extract sales in North America are set to surge at 7.6% CAGR from 2023 to 2033.

Growing consumer interest in herbal remedies is driving the market for licorice extract. In recent years, demand for Chinese herbal medicine has increased, especially in the markets of the United States and Europe.

The market for herbal medicines is expanding rapidly as a result of the popularity of Chinese medicine. This in turn is creating lucrative opportunities for licorice extract producers and suppliers.

Discover Growth Potential: Explore our detailed market research study to identify high-potential sectors and strategic business opportunities.

Widening applications in the pharmaceutical industry will elevate licorice extract demand in North America market through 2033.

Immune health supplements are becoming more popular among consumers, particularly among youth. The market of licorice extract supplements is largely influenced by increasing concern for overall health.

Youth is more susceptible to immune system disorders such as allergies, asthma, inflammatory illnesses, and others. This increases the demand for immune system supplements across North American countries.

Consumers are becoming more health conscious. As a result, they prefer to include naturally produced plant-based items in their daily diet that are free of sugar and gluten.

Consumption of plant-based substances with a variety of nutritional and health properties is increasing due to consumers’ growing awareness about living healthy lives. The market for licorice extract will be driven by the rising awareness of immunity-boosting supplements.

Key Takeaways from the North America Licorice Extract Market Report:

North America licorice industry market will reach a valuation of US$ 155.9 million by 2033.
Licorice extract sales across North America are likely to soar at 7.6% CAGR through 2033.
In 2023, liquid licorice extract segment will hold 45.2% share, while the capsules licorice extract segment will account for 37.2% share
Chewable tablets segment will witness a healthy CAGR of 10.2% from 2023 to 2033.
By application, digestive health segment holds a prominent market share of 29.4% in North America market.
The USA licorice extract industry will cross a valuation of US$ 139.1 million by 2033.
Licorice extract demand in Canada is forecast to increase at 8.7% CAGR through 2033.

“Rising awareness about the potential health benefits of licorice extract will continue to encourage its adoption across various industries. This in turn will provide impetus to North America market.” says a lead analyst at Future Market Insights (FMI).

Who is Winning?

Swanson, BioMatrix International, Bio-Botanica Inc., PharmaChoice, Horbäach, NOW® Foods, NIKKO CHEMICALS CO., LTD., Carlyle Nutritionals, Hard Eight Nutrition LLC., Nature’s Sunshine Products, Inc. are leading licorice extract producer and suppliers profiled in the report.

Most of these companies are leveraging advanced technologies to increase their production capacities and reduce costs. They are also using strategies such as mergers, partnerships, distribution agreements, acquisitions, and collaborations to solidify their positions.

Get More Valuable Insights

Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the North America licorice industry presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.

The study incorporates compelling insights on the North America licorice extract market based on form (chewable tablets, capsules, gummies/chews, powder, and liquid) and application (boost energy, brain health, colon health, digestive health, immune support, liver support, and skin health) across the USA and Canada.

Secure Your Copy Now: Gain full access to the North America Licorice Extract Industry report, including Market Forecast, Company Share Analysis, Competitive Intelligence, DROT Analysis, Market Dynamics, Challenges, and Strategic Growth Initiatives.

North America Licorice Extract Market Segmentation

By Form:

Chewable Tablets
Capsules
- Gelatin
- HPMC
Gummies/ Chews
Powder
Liquid

By Application:

Boost Energy
Brain Health
Colon Health
Digestive Health
Immune Support
Liver Support
Skin Health

By Country:

USA
Canada

About Future Market Insights (FMI)

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