UAE Agritourism Market to be dominated by Recreational Outdoor Activities through 2027

 Escalating demand for sustainable tourism among tourists and supportive government bodies are expected to fuel the demand for the UAE agritourism market in the forecast period, 2023-2027.

According to TechSci Research report, “UAE Agritourism Market By Region, Competition Forecast & Opportunities, 2027,” the UAE agritourism market is expected to witness an impressive CAGR in the forecast period, 2023-2027. Agritourism refers to the subset of rural tourism known by numerous names, depending on the region and type of farming, such as agriculture tourism, agrotourism, farm tourism, farm vacation tourism, wine tourism, and agritourism. It is an agricultural setting for leisure, recreation, or educational purposes. These usually include farm-based recreation activities. Agritourism activities are becoming an essential component of many farm operations. These activities have huge potential to raise the revenue of the farmers without limiting the existing farm revenue. The growing adoption of agritourism among agriculturists as agriculture allied business and expanding practicing and development of agritourism activities for side business along with farm production is projected to stimulate the market growth. Also, the rise in demand for family-oriented recreation activities, local food, and farm stays is expected to influence the UAE agritourism market demand.

Agritourism is gaining popularity as it allows people to find peace and relaxation, which they cannot find in urban areas due to their busy and sedentary lifestyles. There are several activities involved in agritourism, including agriculture museum & displays, archery, barn dances, cabin living, camping, canning produce, bed and breakfast accommodations, etc. These innovative activities attract tourists, especially family and student groups, which is anticipated to propel the growth of the UAE agritourism market during the forecast period. 

The low-investment, low-risk strategy, as farms mainly utilize their existing resources, is a driving factor. The rising curiosity about the rural lifestyle, farm activities, and farming technology in the young generation are expected to drive the growth of the UAE agritourism market in the coming years. The expanding travel and tourism sector, along with the numerous government initiatives undertaken toward agritourism, is expected to boost the market growth of UAE agritourism.

However, the lack of awareness regarding agritourism and proper electrification in rural areas, along with the lack of proper guidance and knowledge about how to commercialize agritourism, may restrain the market growth in the forecast period.

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The UAE agritourism market is segmented into activity, type, service, sales channel, regional distribution and competitive landscape.

Based on activity, the UAE agritourism market is divided into outdoor recreation, agritainment, educational tourism, accommodations, others. Outdoor recreations are expected to capture the largest market share in the forecast period, 2023-2027. The rising demand for recreational activities and tours at farms or at place that can offer rural ambience is expected to bolster the agritourism market in UAE.  

Based on type, the market is divided into direct and indirect. Direct sales channels are projected to hold the largest share in the forecast period, 2023-2027. The escalating government investments and continuous efforts to enhance agriculture economy through farm product sales are further stimulating the growth of the market. Rising inclination among farm owners towards fresh farm grown products to visitors to raise their earnings and revenue, which is projected to boost the market growth during the forecast period.

Major market players operating in UAE agritourism market are:

• Abdulla Al Duwaila Farm,
• Abdulla Al Hamor Farm
• Al Bustan Farms
• \Ali Al Raaei Farm
• Ali Al Shamsi Farm
• Ali Mohammed Al Mansoori Farm
• Azam Al Kaabi Farm
• Dar al-Fateh Organic Farming
• EMIRATES BIO Farms
• Faraj Mohammed Saif Al Mazroui Farm

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“The rise in the adoption of modern agricultural practices and the favorable government policies promoting the agriculture industry is expected to create lucrative growth opportunities for the UAE agritourism market in the forecast period. The growing tourism industry and massive interest of the youth population who want to gain knowledge in a knowledgeable way are expected to accelerate the market demand. Increased demand for a pollution-free environment, recreation activities, and farm foods and the health benefits associated with agritourism are further expected to propel the growth of UAE agritourism market till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“UAE Agritourism Market By Activity (Outdoor Recreation, Agritainment, Educational Tourism, Accommodations, Others), By Type (Domestic v/s International), By Service (Cooking, Butchery, Poultry Products, Breeding & Hatchery Section, Others), By Sales Channel (Direct v/s Indirect), By Region, Competition Forecast & Opportunities, 2027”, has evaluated the future growth potential of UAE agritourism market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in UAE agritourism market.

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Global Retread Tire Market Value to Reach Approx. USD87 billion by 2027

 

Every year, around 24 million retread tires are being sold, which saves around 360 million gallons of oil per year on average. Most of the retread tires are as durable as the new ones and undergo the same testing procedure as any new tire. Prolonged use of commercial and off-the-road vehicles with a heavy load for constructional, mining, infrastructural activities are expanding the demand for retreated tires as they cost 40% less than new tires. Increasing influx of investments for the production and development of retreated tires and introduction of new varieties of high-quality tires are anticipated to fuel the growth of the global retreated tire market.

Rising Demand for Retread Tires in Commercial Vehicles

In recent years, the demand for commercial vehicles have grown significantly, owing to rapid industrialization and rising number of business activities across the world. Tires used in medium and heavy commercial vehicles have a short shelf life due to great load carriage, long distance travels, and high traction. This has created a need for replacing the tires more than passenger cars and off-the-road vehicles, which adds up to the operating cost of the vehicles. Hence, commercial fleet owners are largely preferring to opt for retread tires, which are less expensive than replacing the old ones with new tires. In 2021, the commercial vehicle segment accounted for 85.87% of the market share in the global retread tire market. Expanding need for logistics services, rising demand for freight transportation, and growing commercialization are anticipated to boost the adoption of retread tires in the coming years.

Increasing Need for Economical Tires to Boost Market Growth

Retreaded tires require lesser raw materials and energy to manufacture as compared to new tires, which is beneficial for the environment as well as fleet operators to reduce operating cost of the vehicles. Using the retreaded tires would reduce landfill pollution, which would prevent environmental degradation. Moreover, public/government-municipal fleet owners are turning to retreated tires to reduce average cost per mile. Thus, consumers are showing higher preference towards sustainable solutions such as retread tires for commercial and heavy vehicles alike. Leading tire manufacturers like Goodyear, Bridgestone, Michelin, etc. are introducing tires that are fairly similar to the original tires in terms of quality. Hence, rising average sale prices of new tires and increasing consumer awareness about the cost-effectiveness and sustainability of retread tires are expected to fuel the growth of global retread tire market in the coming years.

Expansion of Logistics Industry to Amplify Retread Tire Sales

Increase in global trade activities in developing economies and rise in trade-related agreements are contributing to the expanding logistics industry. As businesses creating products for consumption are expected to grow, the demand for logistics services and operations would also grow significantly. This would create more demand for commercial vehicles that are required to carry products to warehouses and make last-mile deliveries. Hence, the ever-increasing demand for vehicles in the logistics industry are anticipated to boost the demand for retreated tires in the coming years.  

According to TechSci Research report on “Global Retread Tire Market By Vehicle Type (Commercial Vehicle, Passenger Car & OTR Vehicle), By Retread Process (Cold Process & Hot Process), By Region, Competition, Forecast & Opportunities, 2027”, the global retread tire market is expected to register growth at a CAGR of approx. 4% during the forecast period. The market growth can be attributed to the growing construction projects and mining activities coupled with the rising availability of retread tires at economical prices.

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Two-Rider Bicycle Market Size, Share, Growth & Forecast 2027

 Increasing support of internet of things fuels the growth of the Global Two-Rider Bicycle Market.

According to TechSci Research report, “Two-Rider Bicycle Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”. Global two-rider bicycle market is anticipated to hold an impressive CAGR for the future growth during the forecast years, on the account of growing demand for eco-friendly commuting vehicles. Growing concerns regarding depletion of environment also facilitates the growth of the global two-rider bicycle market in the upcoming five years. Factors like rapid urbanization, expanding automotive industry, growing vehicle fleets, and various environmental issues drive the growth of the global two-rider bicycle market in the upcoming five years. Market growth can also be attributed to growing advancement in the automotives that either don’t use any fuel or are considered ecological. Rising demands for the recreational activities and concerns for the poor health also substantiates the growth of the global two-rider bicycle market in the future five years. Although the governments have made stringent regulations toward consumption of fuel and exhaustive gases emitting from the automobiles, this has led to the consumers’ inclination toward bicycles and other green vehicles. These factors are further aiding to the growth of the global two-rider bicycle market in the forecast years.

Due to the COVID-19 pandemic, the automotive industry suffered drastically. Although various other industries were affected, automotive industry also faced disruptions due to restricted distribution channels and lack of import and export of the vehicles. With the relaxation in the rules and regulations, the industry is soon anticipated to regain its composure. With the effective precautionary steps, the products & services are back on road and the consumers have resumed the usage, thus substantiating the growth of the global two-rider bicycle market in the forecast period through 2027.

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The global two-rider bicycle market segmentation is based on propulsion, application, distribution channel, regional distribution, and competitive landscape. Based on propulsion, the market is differentiated between conventional and electric. Conventional propulsion is anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the ground of less repair and maintenance cost of conventional propulsions of the bicycles as compared to electric propulsion of the bicycles. Moreover, while the bicycle has been a convenient mode of transport, bicycling has been emerging as a leading sporting and leisure activity, especially in the women segment over the past few decades. Electric propulsion may also register significant growth in the future five years due to increasing influences of the electric vehicles in the market and rising concerns of the population over saving the environment.

By application, the market is fragmented into mountaineering, recreational, and conveyance. Mountaineering applications re anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years due to growing inclination of the younger generation toward the sports and rising events and races related to the mountaineering. Furthermore, the number of women and kids entering sports is increasing steadily and is likely to influence the segment growth. The establishment of new mountain bicycling circuits, coupled with the growing media coverage for such events, is expected to fuel the growth of the global two-rider bicycle market in the future five years. Based on distribution channel, the market is distinguished between offline and online. The market analysis also studies the regional segmentation, divided among Asia-Pacific region, North American region, European & CIS region, South American region, and Middle East & African region.

Some of the market players, dominating the global two-rider bicycle market are :

• Cycling Sports Group, Inc.
• Co-Motion Cycles.
• da Vinci Tandem
• Kinethic Bikes
• Privacyverklaring Accell Nederland BV (KOGA)
• Santana Cycles
• Hase Spezialräder (Hase Bikes)
• Cannondale Bicycle Corporation
• Ritchey International SAGL
• Seven Cycles, Inc.

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“North America is anticipated to hold the largest market for the two-rider bicycle in the future years owing to the increasing advancement in the technology and growing recreational and leisure bicycling activities demands. The economies like the United States and Canada with higher instances of on-road traffic are expected to support the regional growth in the future five years. Asia Pacific region may also hold significant growth due to rising population in the countries like India, China, South Korea, etc. Rising disposable income among the population and their tendencies to spend lavishly over recreational activities also facilitates the market growth in the upcoming five years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Two-Rider Bicycle Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, Segmented By Propulsion (Conventional, Electric), By Application (Mountaineering, Recreational, Conveyance), By Distribution Channel (Offline, Online), By Region”, has evaluated the future growth potential of global two-rider bicycle and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global two-rider bicycle market.

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UAE Vertical Farming Market to be dominated by Hydroponics Technology through 2027

 The rise in investments in vertical farming and the growing adoption of modern techniques in the agriculture industry are driving the demand for vertical farming in UAE in the forecast period, 2023-2027.

According to TechSci Research report, “UAE Vertical Farming Market By Region, Competition Forecast & Opportunities, 2027”, the UAE vertical farming market is expected to register an impressive CAGR in the forecast period, 2023-2027. Vertical farming represents a technique of processing food, including in a skyscraper utilized factory or shipping container, which is done in vertically stacked layers. Indoor farming methods and controlled-environment agriculture (CEA) technologies are utilized for modern vertical farming methods in which the environmental conditions can be controlled. It makes the land more useful for crop production as it is a non-traditional technique of crop cultivation that offers advantages like the negligible effect of climate, better yield, use of fewer pesticides, minimal area requirement, and limited water consumption.

Vertical farming offers a higher yield than conventional farming, which is one of the major reasons for its growing popularity. The utilization of micro-climate technology within the container or greenhouse helps the plant to receive the optimal heat, humidity, and light as per the requirement of the crop. Moreover, plants are stacked in trays on a vertical farm, enabling farmers to produce enough food in a confined space.

However, the high cost set up of vertical farming systems and lack of awareness regarding the alternative farming practices in underdeveloped regions may create challenges for the market growth in the forecast period.

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The UAE vertical farming market is segmented into structure, growth mechanism, application, regional distribution, and competitive landscape.

Based on structure, the market is bifurcated into building-based vertical farms and shipping container vertical farms. Shipping container vertical farms segment is expected to hold the largest market share in the forecast period, 2023-2027. It helps grow various vegetables and fruits such as leafy green vegetables, mushrooms, gourmet, and strawberries.

Based on the growth mechanism, the market is divided into hydroponics, aeroponics, and aquaponics. The hydroponics segment dominates the vertical farming market on account of its utilization in vertical farming. Hydroponics refers to the technique of growing plants that are free of soil. It utilizes water, which infuses it with nutrients and minerals. Hydroponics enables the inflow of water, sunlight, and air into the plants. It uses hollowed pipes for the cultivation of crops. These pipes are known as gullies, which assist in the maximization of crop production. The rise in awareness among farmers about the benefits of using hydroponics in the UAE is the segment growth over the forecast period.

Based on application, the market is segmented into outdoor and indoor. The indoor segment is expected to share the largest market from the application segment in the vertical farming market. The modern ideas of vertical farming utilize indoor farming techniques and controlled-environment agriculture technology where all environmental factors can be controlled.

The major market players operating in the UAE vertical farming market are:

• AS Agri and Aqua LLP
• Sarya Holdings
• Crop One Holdings & Emirates Flight Catering
• Madar Farms
• GreenFactory Emirates
• UNS Vertical Farms
• AeroFarms AgX LTD

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“The decreasing food import dependency in the Middle Eastern countries and the enhancing focus on various ways to fuel their domestic food production by participating in modern agriculture practices such as vertical farming. In addition to this, the extreme climatic conditions and the escalating consumer demand for locally produced green vegetables are propelling the market growth. Vertical farming is aiding in improving food security, which makes it the most preferred approach for food production across UAE. The demand for hydroponics technique is increasing as plant-growing with the help of hydroponic mechanism can survive for a longer time since it can constantly provide water and nutrients, which is accelerating the agriculture industry are projected to drive the UAE vertical farming market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Rise in Demand for Hydroponics Technique Augments the Market Growth

Hydroponics represents the technique of producing food without the use of soil. In this procedure, plants are grown utilizing the mineral solution in water inserted around the plant roots. The increasing water crisis in the Middle East region is the primary factor contributing to the escalating demand for hydroponic methods. The hydroponic is considered the growth mechanism that helps eliminate the risk associated with soil organisms causing diseases. Moreover, it is a cost-effective technique as compared to other growth mechanisms and offers more return–on–investment. In case of a power outage, plant-growing under the hydroponic mechanism can survive for a longer period since it can constantly provide required nutrients and water to the plants. Also, the adoption of hydroponic systems is beneficial agricultural practice for desert land, which is another driver for the UAE vertical farming market.

Need to Boost Food Security Supports the Market Growth

The rise in the need for food security due to the increasing population in the UAE is stimulating vertical farming market growth. As per the survey, approximately 80% population of the UAE are migrant residents, and this number is growing at a rapid rate in the country. The increased demand for food to feed such a massive population with varied taste palates boosts the popularity of unconventional farming practices. Along with this, hydroponic systems allow farmers to manage the plant growth and nutrient supply, thereby supporting sustainable, affordable, and healthy food systems in the country.

Increasing Popularity of Leafy Vegetables Drives the Market Growth

Vertical farming offers a higher yield than conventional farming, which helps produce locally fresh leafy vegetables. The greenhouse utilization enables plants to receive the optimal heat, humidity, light, and other conditions per the crop's requirement, propelling the market growth. Moreover, in vertical farming, plants are stacked high in trays that allow the farm to produce more leafy vegetables in a confined space. Stacking plants vertically enables a farmer to grow numerous plants in space. Researchers are focusing on integrating the indoor vertical farmers within the specialty-crop segment to expand the agriculture industry, which is expected to act as a positive factor for the UAE vertical farming market.

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Saudi Arabia Vehicle Repair and Maintenance Market to Grow With a 5.92% CAGR through Forecast Period.

 Growing automotive industry facilitates the growth of the Saudi Arabia Vehicle Repair and Maintenance Market.

According to TechSci report on, “Saudi Arabia Vehicle Repair and Maintenance Market -By Company, Forecast & Opportunities, 2017- 2027F”, Saudi Arabia vehicle repair and maintenance market may flourish with an impressive 5.92% CAGR during the forecast period to achieve a market value of USD1882.94 Million by 2027. The market growth can be attributed to growing demands for regular servicing and maintenance of vehicles in the country by the consumers. Rising disposable income among the population also facilitates the growth of the Saudi Arabia vehicle repair and maintenance market in the upcoming five years. Rapidly growing demands for passenger cars and commercial vehicles further support the growth of Saudi Arabia vehicle repair and maintenance market in the next five years. A surge in demand for premium vehicles also influences market growth. Premium vehicles already cost heavily over the consumer's pocket. However, the disposable income among the population is high due to rapid growth in the country's economy; the premium vehicles demand higher maintenance and repair, thus substantiating the growth of the Saudi Arabia vehicle repair and maintenance market in the next five years.

Climate, geography, and atmosphere are the major factors that influence any automotive's life. With increasing off-road activities, the desert lands of the country play a vital role in influencing the growth of the Saudi Arabia vehicle repair and maintenance market in the forecast years. Higher wear and tear in the automotive parts thus considerably facilitate market growth in the forecast period.

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The Saudi Arabia vehicle repair and maintenance market is segmented by service area, vehicle type, service provider, channel, customer segment, regional distribution, and competitional landscape. Based on service area, the market is further segmented into automotive mechanical and electrical parts, automotive body parts, tire, paint, interior parts, glass, paint protection and coating services, maintenance service, vehicle care services, and quick services. Automotive mechanical and electrical parts are anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years due to expensive parts of the vehicles that demand replacement, repair, etc. Moreover, the automotive mechanical and electrical parts are the integral parts that cannot be afforded to be repaired and maintained through local repair shops. Increasing sales of the premium vehicles further influence the consumer to opt for experienced servicing centers over local repair shops, thereby aiding the market's growth.

By vehicle type, the market is fragmented into passenger cars, heavy commercial vehicles, light commercial vehicles, and medium commercial vehicles. Passenger cars are anticipated to lead the market segment and hold the largest revenue shares of the market in the upcoming five years due to a sudden increase in the demand for women driving. After the ban on female driving was uplifted, the demands for personal car ownership roared. Moreover, demands for the in-expensive premium passenger car also influence the market growth.

Based on service provider, the market is bifurcated into automobile manufacturers, franchise general repairs, and locally owned repair shops. By channel, the market is differentiated between online and offline. Based on customer segment, the market is distinguished between B2B and B2C. The market is also discussed among the regions of the country as in Al-Riyadh, Eastern Region, Makkah Al-Mokarramah, Aseer, Al-Qaseem and others.

A partial list of major market players of the Saudi Arabia vehicle repair and maintenance market includes:

• Abdul Latif Jameel IPR Company Limited
• SMC Auto Service Broker LLC
• Ezhalha
• E.A. Juffali & Brothers (Juffali Automotive Company)
• Al Jazirah Vehicles Agencies Co. Ltd.
• Petromin Corporation
• Al Jomaih Group (ACDelco Service Centers)
• Haji Husein Alireza & Co. Ltd.
• Mohamed Yousuf Naghi & Brothers Group
• Aljabr Group

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“The potential of the online services and integration of the internet of things with the service provider would facilitate the growth of the Saudi Arabia vehicle repair and maintenance market in the future five years. Technological advancements like user-friendly applications to order repair and maintenance services would act as a bridge to the futuristic anticipated market growth. Concerns for the abrupt failure of vehicles or service demands in case the consumer is stranded would also fuel the market growth. With increasing inclination toward electric vehicles, new players may bring in expert executives that may provide emergency services as well as visitations, that would help with the brand establishment for the new market entrants,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

The spread of the novel coronavirus created a crisis across the country. COVID-19 pandemic is the fourth crisis hitting the country over the last decade, following the uprisings of Arabs, declining oil prices of 2014-2016, and a resurgence of protests in 2019. The COVID-19 pandemic impacted the country differently compared to other crises. According to the General Authority of Statistics published, the Gross Domestic Product (GDP) of Saudi Arabia went down by 1.0% in the first Quarter of 2020 compared to that of 2019. Additionally, in Q2 2020, the Gross Domestic Product (GDP) decreased by 7.0% compared to the same period of 2019. Moreover, the country's unemployment rate increased to 15.4% in the second quarter of 2020, growing by 3.1% more than in the second quarter of 2019, leaving a negative impact on consumer spending. Also, petroleum refining activities in the country declined sharply by 24.2% in Q1 2020 compared to Q1 2019. All these factors negatively influenced the vehicle repair and maintenance market growth in 2020. However, the market is showing positive signs of recovery owing to factors such as growing government support, increasing sales of used vehicles, etc.

Removal of Ban on Women Driving Drives the Market Growth

In June 2018, Saudi Arabia's government announced curbing the ban on women driving and allowing women the right to drive motor vehicles on public roads. The women-to-drive campaign finally registered its victory. The removal of the ban on women driving resulted in an increasing number of women drivers on Saudi roads, uplifting the sales of passenger car in the country. A significant ratio of the Saudi Women population is hitting roads with four-wheelers, and several women with foreign licenses have already obtained Saudi driving licenses. Relatively many women in the country are learning to drive. All the above factors are expected to increase the sales of vehicles in the country, which will further boost the vehicle repair and maintenance market in Saudi Arabia over the coming five years.

Growing Employment Drives the Market Growth

According to the World Bank, 84.28% of Saudi Arabia’s population is categorized as an urban population, while most of them are classified as the service class. Saudi Arabia registered employment to population ratio of 72.79% in 2019, which increased from 72.69% in 2018. The growth in employment in Saudi Arabia is consequently increasing consumer spending. As a result, people are spending well on maintaining and servicing their vehicles. Furthermore, most Saudi families own personal vehicles and prefer using passenger cars for daily commuting to their offices. As offices in Saudi Arabia are open five days a week, passenger cars are highly utilized in the country for commuting to workplaces and outings, which in turn is generating the need for regular maintenance and servicing of the vehicles. The employment growth and rise in consumer spending integrated with the continuously expanding urban population are leading to an increase in the utilization of vehicles in the country, which in turn is generating the need to service the vehicle more frequently, driving the vehicle repair and maintenance market of Saudi Arabia.

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Saudi Arabia Pesticides Market to Grow at a CAGR of 5.42% During the Forecast Period

 Increasing pest attack and growing population of Saudi Arabia is driving the growth in Saudi Arabia Pesticides market in the forecast period, 2023-2027.

According to TechSci Research report, “Saudi Arabia Pesticides Market- By Region, Competition, Forecast & Opportunities, 2017-2027F”, The Saudi Arabia Pesticides market stood at USD325.11 million in 2021 and is expected to grow at a steady CAGR of 5.42% during the forecast period on account of increasing pest attack and growing population of Saudi Arabia.

According to the United Nations, Saudi Arabia's population was 35.34 million in 2021. This represents a 1.59% increase over the 34.81 million projected for 2020. The country's increasing population will fuel the demand for food in the country, which will increase the demand for large and healthy produce on farmlands and a high crop yield, and this can only be achieved by controlling crop damage, thereby fueling the need for pesticides. Therefore, demand for pesticides is expected to increase in Saudi Arabia, thereby propelling growth in the pesticide market accordingly through the forecast period. Apart of that, it has been also observed that the attack of pests on major crops such as rice, wheat, and pulses has increased compared to the past few years in Saudi Arabia. Thus, the issue of increasing pest attacks is expected to drive the demand for pesticides in the country in the coming years.

Introduction of Nano pesticides in the Saudi Arabia pesticides market and Growing Hydroponic Farming technique in Saudi Arabia will also fuel the market of pesticide in Saudi Arabia in the coming years.

The regulatory framework is quite strict when it comes to pesticides. All guidelines and quality standards need to be considered during the manufacturing of pesticides. The stringent regulatory scenario and policies for pesticides in Saudi Arabia are expected to hamper the market's growth significantly. The high cost of pesticides leads to affordability constraints in Saudi Arabia which is further expected to restrict and slow down the growth of the pesticide market in Saudi Arabia.

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The Saudi Arabia Pesticides market is segmented based on by type, form, product type, crop type, source, company, and regional distribution. In terms of type, the market can be divided into Herbicides, Insecticides, Fungicides, and Others. The Insecticides segment dominated the market in 2021 with a share of around 35.08% because of these types of pesticides are used to kill all types of insects or pest which can damage the crops. Based on form, the market is divided into Liquid and Dry. Liquid form of pesticide dominates the market of Saudi Arabia. In terms of product type, the market can be categorized into Chemical and Organic. The Chemical product type is expected to dominate the market during the forecast period as chemical product type are used to produce more yields as compared to organic in shorter period. In terms of crop type, the market divided into Oilseeds & Pulses, Grains & Cereals, Fruits & Vegetables, and Others. Oilseeds & Pulses dominates the market of crop type in 2021 in Saudi Arabia on account of that the Saudi Arabia’s agricultural land is suitable to grow all types of oilseeds and pulses. Based on source, the market is segmented into Domestic and Import. Import segment dominates the market of Pesticides in Saudi Arabia because most of the pesticides in Saudi Arabia are imported from different countries as there are less manufacturing units of pesticides in Saudi Arabia.

Key market players in the Saudi Arabia Pesticides market include :

• BASF Saudi Arabia Co. Ltd.
• Bayer Crop Science Saudi Arabia
• Astrachem Fertilizers Saudi Arabia
• Saudi Delta Company, Inc.
• The Arab Pesticides and Veterinary Drugs Mfg. Co (Mobedco)
• Montajat Veterinary Pharmaceuticals Co., Ltd.
• Saudi United Fertilizer Co. (Al Asmida)
• Alahmari Group
• Syngenta PPM Saudi Arabia
• Al Rowad Chemical Factory Company

Saudi Arabia Pesticides market is consolidated with a lot of well-established players having presence in several countries with several domestic players possessing leadership in certain regions of Saudi Arabia. BASF Saudi Arabia Co. Ltd holds the highest market share and is among the top five market players in Saudi Arabia. Bayer Crop Science Saudi Arabia ranks second in terms of market share in the overall Pesticide market. The company has a strong presence worldwide and a huge brand value. People in emerging countries are also aware about the presence, product portfolio and business of the company and are preferring it over other competitor brands.

Additionally, there are other prominent players such as Astrachem Fertilizers Saudi Arabia, Saudi Delta Company, Inc, The Arab Pesticides and Veterinary Drugs Mfg. Co (Mobedco), among others, holding a significant position in the Saudi Arabia Pesticides market.

Growing Population of Saudi Arabia Driving Market Growth

According to the United Nations, Saudi Arabia's population was 35.34 million in 2021. This represents a 1.59% increase over the 34.81 million projected for 2020. The country's increasing population will fuel the demand for food in the country, which will increase the demand for large and healthy produce on farmlands and a high crop yield, and this can only be achieved by controlling crop damage, thereby fueling the need for pesticides. Therefore, demand for pesticides is expected to increase in Saudi Arabia, thereby propelling growth in the pesticide market accordingly through the forecast period.

Limited Arable Land in Saudi Arabia Supporting Market Growth

As arable land is limited in Saudi Arabia, higher agricultural yields are required to meet expanding population demands. Due to the great pressure on the available arable land to meet the food requirements of the country's growing population, the demand for higher yields on limited cultivable land has increased manifolds. This, in turn, will boost pesticide demand to ensure food security and increase pesticide use around the country, hence contributing to the growth of the country's pesticide market.

Increasing Demand for Food Security Aids Market Growth

In a country like Saudi Arabia, with water scarcity and large barren lands, ensuring food security is a major challenge. The Kingdom has made significant progress toward developing agriculture and improving food security in the face of climate change, rising temperatures, and limited water supplies. The need to ensure food security by increasing the operational and production levels of domestic agricultural and food systems will drive the demand for pesticides in the country. Moreover, the need for pesticides in the country will be driven by Vision 2030's goal of sustainable food security and improvements in agricultural efficiency.

Increasing Demand for Organic Pesticides to support Market Growth

Organic pesticide market growth is primarily driven by rising consumer awareness of organic products and foods. Synthetic pesticides used in agricultural production are detrimental to humans and the environment. Organic pesticides are chemical-free, environmentally beneficial, and create fewer toxic residues, making them essential for organic farming. Organic pesticides demand is also influenced by increased disposable income, environmental concerns, and comparable prices.

Increasing Pest Attack supports the Market Growth

It has been observed that the attack of pests on major crops such as rice, wheat, and pulses has increased compared to the past few years. For instance, the Saudi Arabian Ministry of Environment, Water, and Agriculture declared the discovery of the fall armyworm in maize plants for the first time on October 27, 2021. The Ministry took phytosanitary measures, such as destroying infested maize crops, setting up traps around the infested areas, and spraying nearby crops with pesticides. Thus, the issue of increasing pest attacks is expected to drive the demand for pesticides in the country in the coming years.

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“The Northern & Central region of Saudi Arabia is the dominating region in the market. This can be attributed to the large and growing population in the region and increasing pest attack in that region of Saudi Arabia. “For instance, the Saudi Arabian Ministry of Environment, Water, and Agriculture declared the discovery of the fall armyworm in maize plants for the first time on October 27, 2021. The Ministry took phytosanitary measures, such as destroying infested maize crops, setting up traps around the infested areas, and spraying nearby crops with pesticides.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm.

“Saudi Arabia Pesticides Market By Type (Insecticides, Fungicides, Herbicides, Others {Bactericides, etc.}), By Form (Liquid v/s Dry), By Product Type (Chemical v/s Organic), By Crop Type (Oilseeds & Pulses, Grains & Cereals, Fruits & Vegetables, Others {Cotton, etc.}), By Source (Import v/s Domestic), By Region, By Company, Forecast & Opportunities, 2017-2027”, has evaluated the future growth potential of Saudi Arabia Pesticides Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Saudi Arabia Pesticides market.

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What’s Driving the Growth of Electric Two-Wheeler Market?

People living in urban areas are realizing the importance of making a transition to electric vehicles, owing to fluctuating oil and gas prices and rising global carbon emissions levels from vehicular pollution. Electric two-wheelers have been predominantly gaining a lot of traction due to cost-effectiveness and low maintenance, which is attributing to their booming sales. Besides, increasing monetary and non-monetary incentives and enhanced desire for sustainable urban mobility and modern transportation are boosting the global electric two-wheeler market growth. The rise of the e-commerce industry has led to greater adoption of two-wheelers by logistics organizations for making last-mile deliveries, thereby increasing the market penetration. Moreover, the increasing installation of electric vehicle charging stations by government and private players to boost electric mobility is contributing to the global electric two-wheeler market growth. 

 

Here are some of the factors positively influencing the adoption of electric two-wheelers. 

 

𝐀𝐝𝐯𝐚𝐧𝐜𝐞𝐦𝐞𝐧𝐭𝐬 𝐢𝐧 𝐁𝐚𝐭𝐭𝐞𝐫𝐲 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲 | 𝐓𝐞𝐜𝐡𝐒𝐜𝐢 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

 

Lithium-ion is the dominant battery technology in electric vehicles, but it has some shortfalls. Thus, battery manufacturers are finding alternative cell chemistry and introducing innovative battery technologies that are cheaper and more energy-efficient compared to the existing ones. In March 2022, Gogoro unveiled a solid-state lithium-ceramic battery for two-wheelers to deliver high energy density, low charging time, and greater range. These batteries utilize solid electrodes and electrolytes instead of traditional liquid or polymer gel found in lithium-polymer batteries, which are more vulnerable to fires and chemical leaks. Furthermore, battery swapping has become a popular alternative to charging stations as not everybody can afford 7 to 8 hours of charging time per 500 miles. The battery swapping can help reduce charging time, consumer anxiety for maintaining battery life, and increase the range of the e-vehicle. Battery swapping stations have been successfully set up in countries like China and Taiwan to allow vehicle owners to swap their batteries in a few minutes.

 

𝐌𝐨𝐫𝐞 𝐀𝐟𝐟𝐨𝐫𝐝𝐚𝐛𝐥𝐞 𝐎𝐩𝐭𝐢𝐨𝐧𝐬

As gas prices are skyrocketing due to increased energy demands across the globe, people are increasingly shifting to electric-two wheelers as they are cheaper than ICE vehicles over the entire life of the vehicle. Although EVs are priced slightly higher than vehicles running on fuel, the cost associated with oil change, engine maintenance, etc., add up to be significantly higher than the margin. Electric two-wheelers do not require frequent maintenance, and the only cost incurred would be to replace the battery after using the vehicle for 2-6 years. Besides, electric manufacturers are introducing affordable EV two-wheeler options, adding to the market growth. Moreover, the government of various countries is also providing subsidies for the purchase of electric vehicles to promote the adoption of electric vehicles, which is projected to boost their demand in the coming years.

 

𝐄𝐕𝐬 𝐂𝐨𝐦𝐞 𝐰𝐢𝐭𝐡 𝐒𝐦𝐚𝐫𝐭 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐬

EV manufacturers are constantly innovating and introducing new models to boost their sales and stay relevant in the market. As the world is digitally transforming, EV developers are reforming towards adopting hi-end technology to produce vehicles that are digitally connected. For instance, OLA introduced unique features like reverse mode incorporating revolutionary reverse technology to facilitate parking, navigation function, geolocation, digital cluster, Bluetooth, etc., to enhance riding experience and comfort. 

According to TechSci Research report on “Electric Two-Wheeler Market - Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2017-2027, Segmented By Vehicle Type (Scooter/Mopeds, Motorcycle), By Range (Less than 50Km, 50-100Km, 101-150Km, Above 150Km), By Battery Capacity (<25Ah, >25Ah), By Battery Type (Lead Acid, Li-ion), By Region”, the global electric two-wheeler market is expected to grow at a CAGR of 14% during the forecast period. The market growth can be attributed to the fluctuating fuel prices, growing availability of affordable models, and expanding electric vehicle charging infrastructure.

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Global Automotive Tire Market Trends in 2022 | TechSci Research

 

Rising population levels, rapid urbanization, and increasing personal disposable income have fuelled demand for cars, which in turn, has driven steady growth in the global tire market. By 2025, the sales of automobile tires are expected to reach 2,732 million units, owing to global economic growth, supporting vehicle production, and incremental expansion of the number of vehicles in use. As automobiles are becoming more automated and advanced, OEMs are working towards changing their strategies and investing in R&D to develop tires suitable for the various end-user markets. 

Here are the top trends expected to dominate the global tire market in 2022. 

 

Growing Demand for Advanced Tires | TechSci Research

 

As vehicle technology is changing rapidly, tire manufacturers must constantly evolve their tire designs and functionality. Advanced tires comprise technologies that increase the in-vehicle convenience, enhance the durability of tires with real-time monitoring of tire pressure, and improve vehicle fuel efficiency. Tire manufacturers use upgraded raw materials and chemical compounds to produce high-quality, smooth-performing tires for advanced vehicles. Intelligent tires will make mobility more efficient, affordable, and accessible. Hence tire manufacturers are increasingly focusing on building connected tires. In 2021, Goodyear introduced the first tire intelligence solution that works by using sensors and a cloud-based algorithm to provide fleet operators with real-time data. The growing need for automation and connectivity would further contribute to the rising adoption of advanced tires in the coming years. 

 

Enhanced Focus on Sustainability

Consumer demands for low carbon emission levels due to environmental concerns are leading automotive OEMs to put pressure on tire manufacturers to build sustainable products. Hence, developers are introducing tires with minimal friction and higher fuel efficiency to reduce carbon footprint, eliminate scrap tire stockpiles, and enhance sustainability. Some leading tire manufacturing companies have started replacing rubber with a synthetic blend, often incorporating silica to reduce road friction. In 2021, Michelin announced its ambition to make all tires from renewable, recycled, and bio-sourced materials by 2050. The company also plans to make high investments in research, development, and collaborations with other firms and innovators to find greener tire technologies. The rival tire manufacturer, Bridgestone, announced to launch of a new tire technology developed in alliance with Techsyn technology to make tires 30% better in wear efficiency and improve road resistance. 

 

Automation and Efficiency in Tire Production

Automation is being applied to almost every stage of the tire manufacturing process with the help of advanced digital tools like 3D printing and robotic technologies. The lack of skilled labor in the industry and the increased need for quality inspections and process improvements are creating more demand for automation in tire production. Besides, manufacturing plants require more technology that supports preventive and predictive failure solutions to enhance the efficiency of operations and improve workers’ safety. Real-time data for inventory management ensure 100% availability of raw materials and other components required for tire manufacturing in each process. Streamlined material flow allows facility managers to reduce buffering, water and scrap and enable better ergonomics and allocation of human resources. 

According to TechSci Research report on “Global Tire Market by Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle, Two-Wheeler, Three Wheeler and OTR), By Demand Category (OEM vs. Replacement), By Radial Vs Bias, By Region, Competition Forecast & Opportunities, 2017-2027”, the global tire market is expected to grow at a significant CAGR during the forecast period. The market growth can be attributed to the shifting demand towards better lifespan, environmental-friendly tires, and growing tire sales in the replacement segment.

Electric Vehicle Market Analysis for 2022 | TechSci Research

Governments and automobile manufacturers are shifting to selling newer, cleaner electric vehicles, which are expected to account for one-quarter of new sales by 2035. Global electric vehicle sales reached 6.75 million units in 2021. Providing a boost to electric mobility is intended to cut down carbon emissions that contribute to greenhouse gases. Electric Vehicles are environment-friendly and safer, which has led to their rapid popularity and adoption in recent years. Continuous development in battery technologies and cheaper production costs have resulted in the emergence of affordable EV models. Besides, owners can save a lot on operating expenses since EV consumes 60% less fuel compared to internal combustible engines. Favorable government policies and subsidies, along with rapidly expanding electric vehicle charging infrastructure, are also encouraging buyers to opt for electric vehicles, supporting their market growth. 

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Expansion of EV models 

Battery electric vehicles and plug-in hybrids make up more than half of the options among available models in new car showrooms in the US. By next year, the number of all-electric vehicles is expected to quadruple, from 13 to 50. Key market players in the electric vehicle market such as Tesla, Volkswagen, Hyundai, BMW, and General Motors are releasing new models in all segments, such as all-electric pickups, SUVs, luxury, and sports cars. Other EV makers are ramping up their strategies and making huge investments to improve their battery technologies to keep up with new regulations and remain competitive. Ford has planned to roll out four new commercial EVs three-passenger electric vehicles by 2024. Japanese automotive giant, Honda has planned to launch 30 new electric vehicle models worldwide by 2030 and invest USD63.9 billion in R&D initiatives.

Commercial Players Big on EVs | TechSci Research

Commercial buyers are more focused on operating costs compared to retail customers. Switching to battery power would give a clear advantage to business buyers as they cost about half as much to keep in motion. High daily vehicle utilization and a large scale of operations make players in the e-commerce business ideal for commercial electric vehicles, which is projected to expand the commercial EV market size during the forecast period. Some businesses are recognizing EVs as a cost improvement measure, improve customer satisfaction, and meet regulatory compliances. Amazon, Flipkart, Uber, Zomato, and Swiggy have already set out their EV targets for 2025 and 2030 to boost electrification in their fleet. Witnessing the growing adoption of EVs by big businesses, auto manufacturers are building electric vehicles, from garbage trucks to semis. 

Plug-in Hybrid Remains the Most Preferred Choice for Buyers

Although pure electric cars are popular, the gasoline-electric hybrid models have been gaining much traction in recent years. Asia auto manufacturers are boosting hybrid vehicle line-ups as many customers are shunning EVs due to high prices and limited driving range. Hybrids offer a mix of fuel economy and performance, combining a combustion engine with an electric propulsion system. In 2021, the hybrid vehicle sales jumped 76% to 801,550 units in the United States. Toyota recorded the highest hybrid car sales in the US market, which made the Japanese automaker overtake General Motors, the top-selling automaker in the country. In the coming years, hybrid EVs are expected to register the fastest growth, owing to the rising number of hybrid EV models and the increasing inclination of buyers towards purchasing gasoline hybrids. 

According to TechSci Research report on “Electric Vehicle Shared Mobility Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027, Segmented By Service Type (Ride-Hailing, Car Sharing, Car Rental and Ride Sharing), By Vehicle Type (Two-Wheeler and Four-Wheeler), By Commuting Pattern (Daily, Weekly and Occasionally) and By Region”, the global electric vehicle shared mobility market is expected to grow at a steady rate. The market growth can be attributed to the rising demand for urban mobility, increase in internet accessibility, and continuous digital revolution.

India Industrial Valves Market Size, Share, Growth, Trend & Forecast 2028

 Increase in FDI in various industries and Initiatives for local manufacturing are expected to drive the India Industrial Valves Market during the forecast period.

India Industrial Valves Market valued at USD2,731.45 million in 2022 and is anticipated to project a robust growth in the forecast period with a CAGR of 5.65% through 2028. This is attributed to rapidly rising government projects and localization of products. Industrial valves represent the devices that open, close, or partially obstruct passageways to maintain the flow of liquid or gas within a container, pipe, or any other material. The growing export of Indian products to the foreign market is propelling the market growth. Expanding FDI in several industries including oil and gas sector is supporting the market growth.

The elevating level of industrialization, along with the growing automation in industrial processes, is supporting the growth of the market.  The increasing number of oil and gas exploration activities in offshore field is contributing to the market growth. With this, rise in number of pipeline installations and the inflating need for controlling as well as monitoring them from a centralized location are positively influencing the market growth. The integration of smart control systems and the growing adoption of diagnostics in industrial valves to aid monitor upstream and downstream pressure stem position, temperature, and flow rate. India is known for its trade relations with several countries and since the last decade, India is continuously focusing to improve the trade relations thereby giving more export options to the Indian manufacturers.

The India industrial valves market is segmented based on type, industry, region, and company. Based on Type, the market is further fragmented Globe Valve, Ball Valve, Butterfly Valve, Check Valve, Gate Valve and Others. The India industrial valves market is dominated by globe valve in the type segment. With a market share of 23.84% in the base year 2022, globe valve is widely used in India, given their wide range of applications in industries. 

The major market players in the India Industrial Valves market are L&T Valves, Kirloskar Brothers Limited, CRI Pumps, Ampo Valves, Emerson Electric Co., VIP Valves Private Limited India, Amco Industrial Valves, Amtech Valves, Hawa Engineers Ltd and Novel Valves.

Years considered for this report:

Historical Years: 2018-2021

Base Year: 2022

Estimated Year: 2023E

Forecast Period: 2024F–2028F

Objective of the Study:

• To analyze the historical growth in the market size of India industrial valves market from 2018 to 2022.
• To estimate and forecast the market size of India industrial valves market from 2023E to 2028F and growth rate until 2028.
• To classify and forecast India industrial valves market on the basis of type, industry, regional distribution, and competitive landscape.
• To identify dominant region or segment in the India industrial valves
• To identify drivers and challenges for India industrial valves
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in India industrial valves
• To identify and analyze the profile of leading players operating in India industrial valves
• To identify key sustainable strategies adopted by market players in India industrial valves

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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of industrial valves manufacturing companies across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the companies, which could not be identified due to the limitations of secondary research.

TechSci Research calculated the India industrial valves market size using a bottom-up approach, where data for various end user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources including company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also used by TechSci Research.

Key Target Audience:

• Industrial valves manufacturing companies
• End-users
• Government bodies such as regulating authorities and policy makers
• Organizations, industry associations, forums and alliances related to industrial valves
• Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as industrial valves manufacturing companies, end users etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, India Industrial Valves Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• India Industrial Valves Market, By Type:
• Globe Valve
• Ball Valve
• Check Valve
• Butterfly Valve
• Gate Valve
• Others (Control, Pinch, Air Valve etc.)
• India Industrial Valves Market, By Industry:
• Oil & Gas
• Power Generation
• Chemicals & Petrochemicals
• Wastewater Effluent
• Food & Beverages
• Others (Pulp & Paper, Health etc.)
• India Industrial Valves Market, By Region:
• West
• South
• North
• East

Table Of Content : 

1. Product Overview
2. Research Methodology
3. Executive Summary
4. Impact of COVID 19 on India Industrial Valves Market
5. Voice of Customer
   • Brand Awareness
   • Key Satisfaction Level
   • Major Challenges Faced
   • Key Factors for Selecting Supplier
6. India Industrial Valves Market Outlook
   • Market Size & Forecast
     • By Value
   • Market Share & Forecast
     • By Type (Globe Valve, Ball Valve, Butterfly Valve, Check Valve, Gate Valve and Others)
     • By Industry (Oil & Gas, Power Generation, Wastewater Effluent, Chemicals & Petrochemicals, Food & Beverages, and Others)
     • By Region
     • By Company (2022)
   • Product Market Map
7. West Industrial Valves Market Outlook
   • Market Size & Forecast
     • By Value
   • Market Share & Forecast
     • By Type (Globe Valve, Ball Valve, Butterfly Valve, Check Valve, Gate Valve and Others)
     • By Industry (Oil & Gas, Power Generation, Wastewater Effluent, Chemicals & Petrochemicals, Food & Beverages, and Others)

8. South India Industrial Valves Market Outlook
   • Market Size & Forecast
     • By Value
   • Market Share & Forecast
     • By Type (Globe Valve, Ball Valve, Butterfly Valve, Check Valve, Gate Valve and Others)
     • By Industry (Oil & Gas, Power Generation, Wastewater Effluent, Chemicals & Petrochemicals, Food & Beverages, and Others)

9. North India Industrial Valves Market Outlook
   • Market Size & Forecast
     • By Value
   • Market Share & Forecast
     • By Type (Globe Valve, Ball Valve, Butterfly Valve, Check Valve, Gate Valve and Others)
     • By Industry (Oil & Gas, Power Generation, Wastewater Effluent, Chemicals & Petrochemicals, Food & Beverages, and Others

11. East India Industrial Valves Market Outlook
    • Market Size & Forecast
      • By Value
    • Market Share & Forecast
      • By Type (Globe Valve, Ball Valve, Butterfly Valve, Check Valve, Gate Valve and Others)
      • By Industry (Oil & Gas, Power Generation, Wastewater Effluent, Chemicals & Petrochemicals, Food & Beverages, and Others)
12. Market Dynamics
    • Drivers
    • Challenges
13. Market Trends and Developments
14. Policy & Regulatory Landscape
15. Competitive Landscape
    • L&T Valves
    • Kirloskar Brothers Limited
    • Ampo Valves
    • Emerson Electric Co.
    • CRI Pumps
    • VIP Valves Private Limited India
    • Amco Industrial Valves
    • Amtech Valves
    • Hawa Engineers Ltd
    • Novel Valves
16. Strategic Recommendations
17. About Us & Disclaimer

Note: The data given for any year represents the market during the period, i.e., 1st April of the previous year to 31st March of that year. eg: For 2023E, the data represents the period, 1st April 2022 to 31st March 2023.

 

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Tel: +1-646-360-1656

Email: sales@techsciresearch.com

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Elevator and Escalator Industry Trends in 2022

 

As cities continue to become the centrifugal force for progress and urbanization, the need to accommodate huge population has led to the growth of high-rise buildings, mid-rise buildings, and advanced infrastructure. This bodes well for the elevator and escalator industry as they offer solution to facilitate the vertical movement of people and goods safely, efficiently, and responsibly through tall structures. Elevators and escalators are rapidly evolving as architects and developers are laying more emphasis to enhance aesthetics and ensure safety and comfort for the users. Besides, manufacturers are increasingly investing in R&D initiatives to develop energy-efficient elevator and escalators, owing to growing awareness towards sustainable technologies and regulatory compliances by government authorities.

Here are the top trends dominating the elevator and escalator industry.

Growing IoT Usage in Elevator and Escalator Sector

Advancements in IoT and smart building technologies have moved elevators and escalators beyond just commuting people up high-rises. Elevators and escalators are becoming more intelligent, seamless, safe, and smart with the rapid deployment of innovative technologies, which is enabling building operators and maintenance providers to take a proactive approach rather than relying on the traditional reactive one. Digitalization and connected technologies help to evaluate the real-time passenger traffic to improve flow and travel time in busy mid-and high-rise buildings, which is facilitating proactive, quick, and effective transit and effective passenger flow.

Rise of Energy Efficient Elevators

Manufacturers are shifting towards elevators and escalators that aid in substantial energy saving with environmentally responsible features. Newer elevators are incorporating green features such as LED lights, water soluble paint, and recycled construction materials for reducing the energy consumption. Some manufacturers are finding alternatives to traditional rope-and-pulley for enhanced eco-efficiency and reliability. Kone introduced Ultrarope hoisting technology that utilizes carbon fibre core surrounded by high-friction coating. The rope is ultra-durable, has excellent strength properties, and highly resistant to wear and abrasion. The regenerative drive systems are also enabling engineers to recover some of the energy that elevators consume.

Robotics for High-Quality Installation of Elevators

The Robotics Installation System for Elevators (R.I.S.E) is creating new possibilities for enhanced automation and digitalization in elevators. The technology allows safe and high-quality installation of elevator, which would not only provide a new level of worker safety but also help improve quality. Engineers are rapidly adopting on R.I.S.E to install elevators in commercial complexes and tall residential buildings to eliminate repetitive and physically demanding work and enhance precision to reduce safety risks in the future. The rapid development of service robotics for vertical movement would expedite the deployment and installation of elevators as well as enhance the safety of workers involved.

Emergence of touchless technologies, greater need for connectivity and safety are expected to influence the elevator and escalator trends in the future.

According to TechSci Research report on “Global Elevator & Escalator Market By Type (Elevator, Escalator, Moving Walk Ways), By Service (New Installation, Modernization, Maintenance & Repair), By Elevator Technology (Hydraulic, Traction & Machine Room-Less Traction), By End-User (Residential, Commercial, Institutional, Infrastructural and Others), By Elevator Door Type (Automatic and Manual), By Region, Competition Forecast & Opportunities, 2027”, the global elevator and escalator market is expected to register growth at a significant rate through the forecast period. The market growth can be attributed to the rapid development of high-rise commercial and residential buildings and increasing capital flow into the real-estate sector.

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Off-the-Road (OTR) Tire Market Entering a Transformative Era

Tire manufacturing technology has progressed in parallel with growing requirements of automobile manufacturers and ever-growing customer expectations to accommodate new applications, safety, health, and environmental issues. Evolution of new tire construction technologies, emergence of novel materials like nano composites, plasma surface modified carbon black, and new computer simulation techniques have led to the development of new and improved tires that provide enhanced performance and efficiency to modern vehicles. Rapid surge in industrialization, growing mechanization, infrastructural developments in emerging markets, and agricultural activities are increasing demand for tractors, construction, and mining equipment, which in turn, are contributing to OTR tire market growth. Manufacturers are leveraging new compounds, materials, and value-added technologies such as embedded sensors to make OTR tires more durable. With growing environmental consciousness and regulatory policies, new opportunities are opening in the areas of sustainability and standardization.

Intelligent Construction Tires

The new construction tire line’s sensor technology introduced by Continental enable end users to track metrics such as tire performance, temperature and inflation pressure, and longevity. Monitoring the data would lower operating costs and maintenance costs associated with tire inspections, reduce downtime, improve safety, and maximize fuel efficiency. Besides, Continental offers a service called ContiLogger that uses a telematic device with integrated sensors to measure speed, distance, lateral force, road grade, tire pressure, and issues warning for critical conditions such as long idling time, low inflation pressure, low-efficiency cycle pattens, etc.

Green OTR Tires

Recycling OTR tires is a time-consuming, energy-intensive, and costly process that requires up to six stages before the actual process starts. However, innovative OTR tire recycling technologies are reducing the recycling steps to make the recycling process more eco-friendly. Tytec Recycling in collaboration with Green Distillation Technologies Corporation designed the first green recycling solution for off road tires. The recycling technology developed in Australia reclaims the OTR tires into high-quality steel, diesel oil, and carbon in just one step. No cutting, shredding, or grinding of tires is required prior to recycling of OTR tires with the new technology, which results in low emissions and safer work conditions. In a way, the distillation reactors of Tytec Recycling resolve a major environmental problem for mining and agricultural sectors across the globe.

Airless Tire and Wheel System

In 2021, NDX introduced airless tire and wheel system for utility vehicles and turf equipment to solve the recurring problem of flat tires on rough terrains. NDX combines multi-layered construction, engineered structural supports, tread belt, premium rubber compounds, and a deflection management system to optimize energy absorption and load distribution. Less jarring and bouncing would help reduce operator fatigue, resulting in a ride equal to or better than pneumatic tires. Airless tires minimize fuel consumption by up to 10% when compared to other tire options.

According to TechSci Research report on “OTR Tire Market - Global Industry Size, Share Trends Competition, Opportunities and Forecast 2017-2027 Segmented By Demand Category (OEM & Replacement), By Vehicle Type (Mining, Construction & Industrial Equipment, Agriculture Vehicles, Others), By Tire Construction Type (Radial & Bias), and By Region”, the global OTR tire market is expected to reach register a CAGR of 6.6% during the forecast period. The market growth can be attributed to the rising sales of tractors and harvesters and growing investments in the mining industry. Besides, introduction of various plans and programs for the development of mining activities by government of various countries are expected to boost the global OTR tire market in the coming years.

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