TechSci Research

Tuesday 30 August 2022

Tire Market to Reach USD 353 Billion by 2027

Increasing automobile sales and production and rising aftermarket demand for tires coupled with advancements in tire technology will lead to the growth of the Global Tire Market in the forecast period.

According to TechSci Research report, “Tire Market –Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2017-2027”, the Global Tire Market is anticipated to grow at a robust growth rate of 7.53% by value during the forecast period to reach USD 353 billion by 2027, owing to increased manufacturing & demand for replacement tires. China, being the largest tire producer and market in the world is expected to grow at a CAGR of 7.52% by volume in the forecast period. The government of China is planning to increase the production of electric vehicles by providing subsidies on each purchase of electric vehicles. For the next five years, the expansion of the tire market will mostly be driven by strengthening the financial standing of the global automobile sector through loan waivers, the availability of commodities at reduced prices, and the rising acceptance of bank financing.

Global Tire Market is classified based on vehicle type, by demand category, by tire construction type, and by region. Based on vehicle type, the market is segmented into passenger cars, light commercial vehicle, medium and heavy commercial vehicles, two wheelers, three wheelers, OTR. Increase in sales of passenger cars due to presence of huge population and disposable income is upsurging the demand for passenger car tires.

In terms of demand category, original equipment manufacturers (OEM) are the fastest growing segment in the forecast years. As tire manufacturers adopt new technologies, the replacement rate of tires will increase, which will escalate the demand for tires, and the market will continue to grow sustainably.

Browse over 395 market data Figures spread through 660 Pages and an in-depth TOC on "Global Tire Market"

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On the basis of tire construction type, market is segmented into radial tires & bias tires. The radial tires have better performance characteristics, especially in heavy commercial vehicles, such as minimal rolling resistance, rapid heat dissipation, and prolonged life, which are some of the factors driving the demand for radial tires. Additionally, the flexibility of these tires is improved by the reduced rolling resistance of tires. Owing to these qualities of radial tires peoples are preferring radial tires instead of bias tires. As a result, radial tires hold a major share in the global tire market in tire construction segment.

Majority of automobile production and sales come from Asian & European countries, hence making them leaders of the mainstream market. China, the US, and Germany are the three largest tires producers and markets in the world, respectively. China and the US will grow at a CAGR of 7.52% and 5.90% in terms of volume respectively and will help boost the market in the forecast period.

Due to the implementation of lockdown to prevent COVID-19 pandemic, sales of tires in the end of first quarter and substantially in second quarter fell in most of the countries affecting current year’s performance. Nevertheless, in most of the regions across globe, the market rapidly recovered in the end of second quarter and the third quarter.

The Michelin group dominates the market in the year 2021, due to its remarkable dealership network, which offers a wide range of economical yet qualitative products, which withstand government’s safety norms.

Some of the major companies operating in the Global Tire Market include:

The Michelin Group
Bridgestone Corporation
Continental AG
Goodyear Tire and Rubber Company
Sumitomo Rubber Industries, Ltd.
Hankook Tire & Technology Co., Ltd.
Pirelli & C. S.p.A.
The Yokohama Rubber Co., Ltd.
Zhongce Rubber Group Co., Ltd.
Cheng Shin Rubber Industry Co.
Toyo Tire Corporation
Shandong Linglong Tire Co., Ltd.
Giti Tire
Sailun Group Co. Ltd.
Madras Rubber Factory Ltd.
Kumho Tire Co.
Nokian Tires plc
Nexen Tire Corporation
JK Tyre Industries Ltd.
Apollo Tyres Ltd.

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“The demand for tires is anticipated to increase globally in the coming years, on account of increased adoption of new tire technologies.”, thus making the market grow in the forecast time period,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based Global management consulting firm.

“Tire Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2017-2027, Segmented By Vehicle Type (Passenger Car Light Commercial Vehicle, Medium & Heavy Commercial Vehicle, Two Wheelers, Three Wheelers and OTR), By Demand Category (OEM and Replacement), By Tire Construction Type (Radial and Bias), By Region”, has evaluated the future growth potential of global tire 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 Global Tire Market.

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India Electric Vehicle Market to Grow at a 19.81% CAGR by 2028

Increasing shift towards electric mobility and advancement in EV sector to drive the India Electric Vehicle Market through 2028.

According to TechSci Research report, “India Electric Vehicle Market - Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2018- 2028F”, India electric vehicle market is anticipated to reach USD14,910.33 million at a CAGR of 19.81% by 2028 because of rapidly expanding wide range of products and advancement in charging infrastructure, and battery capacity suitable to Indian roads. According to NITI Aayog and Rocky Mountain Institute (RMI) India's EV finance industry is likely to reach Rs.3.7 lakh crore (USD50 billion) in 2030. With majority of youngsters preferring two-wheelers for their daily mobility requirements, there is expected to be strong demand for electric vehicles. Between 2000 to 2021, the India automobile sector received FDI inflow of USD30.51 billion and expects 8-10 billion in local and foreign investment by 2023.

Browse more than 52 market data Figures spread through 70 Pages and an in-depth TOC on "India Electric Vehicle Market"

In addition, the government is offering subsidies under FAME II, as well as state EV programs, to encourage the widespread adoption of electric vehicles across the country. Additionally, top firms, as well as many emerging players, are expected to increase their focus on R&D in order to create sophisticated technology and features while keeping prices low, resulting in increased sales of electric vehicles. However, after the COVID-19 outbreak, which resulted in an economic catastrophe in 2020, the country's automobile sales plummeted due to a lack of production and import restriction.

Key market players in the India electric vehicle market include:

Tata Motors Limited
MG Motor India Private Limited
Mahindra & Mahindra Limited
PMI Electro Mobility Solutions Private Limited
JBM Auto Ltd.
Hero Electric Vehicles Pvt. Ltd.
Okinawa Autotech Pvt. Ltd.
Greaves Electric Mobility Pvt. Ltd
YC Electric Vehicle
Saera Electric Auto Pvt. Ltd.

India electric vehicle market can be segmented based on vehicle type, propulsion, by battery capacity, range, charging time, region and company. On the basis of vehicle type, Electric two-wheelers dominate the India Electric Vehicle Market, accounting for around 42% of total market share, followed by three-wheelers and passenger cars. BEV dominates the India Electric Vehicle Market in terms of propulsion, with more than 75% of the total market share. With the growing fleet size of electric vehicles, the similar trend is expected to continue in the coming years. On the basis of range, the sector above 200 kilometers exhibits the most increase, as high-capacity battery ranges are the focus of innovation and advancement. Based on charging time, majority of automobiles required <5 hours of charging time with prominent growth rate of CAGR 36.12% in the historical period, and it is expected to grow at a CAGR of 24.46% in the forecast period.

Tata Motors Limited, MG Motor India Private Limited, Mahindra & Mahindra Limited, PMI Electro Mobility Solutions Private Limited, JBM Auto Ltd., Hero Electric Vehicles Pvt. Ltd., Okinawa Autotech Pvt. Ltd., Greaves Electric Mobility Pvt. Ltd., YC Electric Vehicle, Saera Electric Auto Pvt. Ltd. are the major players in the electric passenger cars, LCV, M&HCV, two-wheeler, three-wheeler segments.

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“Electric Two-wheelers accounted for the largest share i.e., 42.55% in India electric vehicle market and it is expected to dominate in the forecast period. Many companies are investing in EV’s to improve charging infrastructure and reduce charging time,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“India Electric Vehicle Market By Vehicle Type (Passenger Car, LCV, M&HCV, Two-Wheeler, Three-Wheeler), By Propulsion (BEV, HEV, PHEV, FCEV), By Range (0-100 Km, 101-200 Km, Above 200 Km), By Charging Time (<5 Hr, 5-10 Hr, Above 10 Hr), By Region, By Top 10 States, By Competition Forecast & Opportunities, 2018- 2028F” has evaluated the future growth potential of India Electric Vehicle 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 the India electric vehicle market.

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United Kingdom Seed Coating Materials Market May Record a Promising Growth Through 2027

Rising adoption of genetically modified seeds drives the growth of the United Kingdom seed coating materials Market over the forecasted period.

According to TechSci report on, “United Kingdom Seed Coating Materials Market - By Region, Competition Forecast & Opportunities, 2027”, United Kingdom seed coating materials market is anticipated to propel with a remarkable CAGR during the forecast period of 2023-2027, owing to the growing demands higher production of healthier, nutritive, and premium agricultural food products. The rapidly growing agricultural sector in the region due to low investment requirements is also providing a positive thrust to the market. Furthermore, the growing consumer and government preferences toward sustainable agriculture is adding to the market growth. In addition to this, the government has been introducing several schemes to ensure safe treatments of the seeds against harsh chemicals and pests that deteriorate consumer health. The European seed sector is funded by European Union to conduct several research projects which deal with current and potential challenges related to sustainable farming practices, plant breeding, and food and nutrition security.

Furthermore, the introduction of innovative farming techniques and technologies is exponentially accelerating the United Kingdom seed coating materials market. The utilization of technologically upgraded farm equipment and commercial seeds in crop cultivation is positively impacting the market growth. The increasing adoption of seed coating materials has shown increased agricultural yield as these coating materials help in delivering helpful microbes. In addition to this, the farmers are also becoming aware of the benefits associated with the usage of material-coated seeds. Apart from this, the ongoing development of biodegradable seed coverings to curb pollution promises significant growth of the United Kingdom seed coating materials market in the forecast period.

Browse over XX market data Figures spread through 70 Pages and an in-depth TOC on "United Kingdom seed coating materials Market"

The United Kingdom seed coating materials market is segmented by additive, by process, by active ingredient, by crop type, competitional landscape, and regional distribution. Based on additives, the market is differentiated between polymers, colorants, pellets, minerals/ pumice, and others, among which the polymer segment accounts for the largest market share due to their functional qualities of enhancing the appearance and nutritive content of the seed. By process, the market is bifurcated into film coating, encrusting, and pelleting. Based on active ingredients, the market is fragmented into protectants, phytoactive promoters, and others. By crop type, the market is segmented into fruits & vegetables, cereals & grains, oilseeds & pulses, and others. The cereals and grains segment is projected to have the highest CAGR during the forecast period. This is primarily due to the growing trend of utilizing coated seeds on a large scale in regions of the United Kingdom that are involved in extensive production and consumption of cereals and grains. The United Kingdom seed coating materials market analysis also studies the regional segmentation to devise regional market segmentation, divided among England, Scotland, Wales, and Northern Ireland.

A partial list of major market players of the United Kingdom seed coating materials market includes :

BASF UK Limited
Bayer UK Limited
Germain’s UK Limited
Croda International Plc.
Incotec Group (UK)

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“The United Kingdom seed coating materials market is highly competitive, and this trend is likely to continue in the long run. The market is dominated by several leading players that hold a major market share. The United Kingdom and certain European countries have a huge potential to become giants in the seed coating industry, as the market leaders are extensively focussing on merging with each other to manage and capture a larger market share. Moreover, the government is introducing several favourable policies and schemes to augment the market growth. For instance, European Seed Treatment Assurance Scheme (ESTA) was introduced to extend support from cleaning of seed to the utilization of treated seeds in the field. ESTA provides certificates to those seeds only that surpass the agreed standards of quality. vegetable seeds, oilseeds rape, cereals, sugarbeet, sunflower seeds, protein plant are some of the certified seed coated in the region. New market players are advised to invest their finances in the advancement of products and understand the consumer needs, thereby providing innovative products that would support their future brand establishment,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“United Kingdom Seed Coating Materials Market By Additive (Polymers, Colorants, Pellets, Minerals/ Pumice, Others), By Process (Film Coating, Encrusting, Pelleting), By Active Ingredient (Protectants, Phytoactive Promoters, Others), By Crop Type (Fruits & Vegetables, Cereals & Grains, Oilseeds & Pulses, Others) By Region, Competition Forecast & Opportunities, 2027” has evaluated the future growth potential of United Kingdom seed coating materials 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 United Kingdom seed coating materials market.

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Thursday 25 August 2022

Electrified Road for Electric Vehicle Charging Market Projected to Register an Impressive Growth Through 2027

Rising penetration of electric vehicles to drive the growth of the global production software market.

According to TechSci Research report on, “Electrified Road for Electric Vehicle Charging Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2027”, the global electrified road for electric vehicle charging market is anticipated to witness robust CAGR over the forecast period 2023-2027. The market growth can be attributed to the increasing penetration of electric vehicles and lack of electric vehicle charging infrastructure across the world. Besides, growing technological innovations in the electrified roads and enhanced focus of governments for boosting electrification in the country are some of the factors fueling the growth of the electrified road for electric vehicle charging market. Electric roads supply vehicles with electricity to power them and charge them while they are in motion. With electric roads, electric trucks and buses would not require to be charged frequently since the electrification ensures heavy long-distance road freight. Some other advantages of electrified roads are reduced dependence on fossil fuels, lower greenhouse gas emissions, air pollution, noise in urban areas, and enhanced energy efficiency. In Sweden and Norway, researchers, businesses, and public sectors are collaborating for implementation strategies, operations, and maintenance standards for greater acceptance of electric roads. Installing electric road technology on all European and National roads in Sweden could reduce carbon emissions from heavy traffic by approx. 60%, which would lead to cleaner air and reduced noise pollution. Large-scale deployment of electric roads could also lead to significant gains in terms of cost of energy used in the transport sector. Hence, rising investments by government and private players to develop electrified roads across the globe are anticipated to propel the growth of electrified road for electric vehicle charging market in the coming years.

Browse over XX market data Figures spread through 110 Pages and an in-depth TOC on "Global Electrified Road for Electric Vehicle Charging Market"

“Ever since the introduction of groundbreaking in-road wireless charging technology, several companies are working towards implementing it in a real-setting. Several pilot projects for electrified roads are currently underway across different parts of North America and Europe. Many research institutes are also finding solutions to make electrified roads as sustainable and efficient as possible and move the electrification revolution to mass implementation. The The Sweden government is planning to use the Electreon technology to electrify more than 3 thousand miles of high-speed highways at the cost of USD3 billion. Even the Israeli government is planning to invest USD3.3 million in electrified roads by gradually expanding deployment of the coils to specified land around the city of Tel Aviv. Hence, increasing investments by the government to electrify roads for facilitating electric vehicle charging are expected to fuel the market growth in the coming years.” said Mr. Karan Chechi, Research Director, TechSci Research, a research based global management consulting firm.

A list of major market players of the electrified road for electric vehicle charging market includes:

Siemens AG
Scania AB
Elonroad
Vattenfall
Sytner Group Limited

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“Electrified Road for Electric Vehicle Charging Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027” has evaluated the future growth potential of global electrified road for electric vehicle charging 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 global electrified road for electric vehicle charging market.

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Tuesday 23 August 2022

Precision Fermentation Market to Grow with a CAGR of 38.73% through 2027

Environmental benefits, growing adoption of being vegan, decreasing dependency on animal-based food are driving demand for dental bone grafts during the forecast period of 2017-2027.

According to TechSci Research report, “Precision Fermentation Market - Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2017-2027”, the Global Precision Fermentation market stood at USD 293.75 in 2021 and is anticipated to grow with a CAGR of 38.73% in the forecast period, 2024-2027. The major factors driving the growth of Precision Fermentation Market include decreasing dependency on animal-based food, growing adoption of being vegan, Cultured meat production.

Precision Fermentation is microorganisms' genetic modification and fermentation to create organic molecules. The products produced through the process will be cheaper in the future than those produced from animals. Precision fermentation does not depend upon climatic changes. The food items produced from precision fermentation are regulated like any other food ingredient. As these products are animal-free, vegans still have some allergen capabilities due to their animal counterparts.

Many startups are investing in precision fermentation. These startups include Israel’s Remilk and Imagindairy, Estonia’s ProProtein, the UK-based Better Dairy, and German operation Formo. Berlin-based Formo invested USD50 million to form lab-grown dairy products in September 2021. Companies are investing in precision fermentation because this process can create many complex organic molecules without incorporating animals. The US Department of Agriculture was the first government to invest USD10 million in Tuft’s University to scale up cellular food production in October 2021. Between 2018 and 2020, the Good Food Institute, a non-profit institute in Washington DC, dispensed almost US$3 million in supporting fundamental research on scaling.

Browse over 135 market data Figures spread through 271 Pages and an in-depth TOC on "Global Precision Fermentation Market"

The Global Precision Fermentation Market is segmented into Ingredient Produced, Microbes, End User Industry, Region, and By Company.

The market is segmented into Whey & Casein Protein, Egg White, Collagen Protein, Heme protein and Others based on ingredient produced. In 2021, Whey & Casein protein segment holds the major revenue share i.e., 42.68%. Whey & Casein protein is majorly used in the production of dairy products and this process is significantly involve in the production of dairy products. Heme Protein is the fastest growing in forecast years due to the growing adoption of being vegan.

The market is classified into three categories based on the microbe: Yeast, Algae, Bacteria. With a market share of 46.47% in 2021, the yeast is dominating the Global Precision Fermentation Market. The products made by the procedure of precision fermentation are mostly by the help of yeast because it doesn’t require specific environmental condition for its growth and yeast is anaerobic. Followed by algae, for some products algae is also used to produce by precision fermentation.

Based on regional analysis, in terms of revenue share in 2021, North America dominated the global precision fermentation market with the market share of 47.26%. Because the startups doing the process to produce dairy products and protein are mainly North America based. North America account major share also due to the highest investments in the region.

The leading companies operating in the Global Precision Fermentation Market are:

New Culture Inc
Perfect Day, Inc
Triton Algae Innovations
Change Foods, Inc
Remilk
Impossible Foods Inc.
Motif FoodWorks, Inc
Formo Bio Gmbh
The Every Company
Geltor, Inc
Better Dairy

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“Global Precision Fermentation Market will see a robust growth during the forecast period of 2017-2027. The market of precision fermentation is expected to develop because people are more concerned regarding the treatment of animals in slaughterhouse, nowadays. Due to that people are focused on the production of food which doesn’t require the use of animals.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Precision Fermentation Market - Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028, Segmented By Ingredient Produced (Whey & Casein Protein, Egg White, Collagen Protein, Heme Protein, Others), By Microbe (Yeast, Algae, Bacteria, Others), By End User Industry (Food & Beverage, Pharmaceutical, Cosmetic, Others), By Region”, has evaluated the future growth potential of Global Precision Fermentation 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 Global Precision Fermentation Market.

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The India Airbag Market to Grow At 30.98% CAGR In Value Terms By 2028

Increasing preference for a used car as it is very cost-effective compared to a new car is expected to drive the India airbag market through 2028.

According to TechSci Research report “India Air Bag Market By Vehicle Type, By Region, and By Competition Forecast & Opportunities, 2018- 2028F”, India airbag market stood at USD 921.91 million in the year 2022 and is estimated to reach USD7271.82 million by 2028, growing at a CAGR of 30.98% during the forecasted period. The rising consumer preference for luxury and premium cars equipped with advanced safety features has made the car manufacturers install airbags and other safety norms in the car. The government also has stringent safety policies for car manufacturers and made it mandatory to have at least six airbags in a car. The increasing per capita income and growing demand for personal vehicle has also driven the country’s airbag market. The increase in off-roading and sporting activities across the country has also risen the need for a safer drive and consumers have started to prefer vehicles which are equipped with airbags and has all other safety norms in it. These all factors are driving the airbag market in a positive way.

In India, airbags have been made compulsory in the vehicles on the driver’s side since 1997, by the Government of India and the Union Ministry of Roads. In July 2019, the Government of India has issued a notification in which airbags have been made mandatory for the passenger seated in the front of a vehicle. These airbags have been made compulsory in vehicles by the Government of India to reduce the impact of a frontal and lateral collision on the driver and passenger seated on both rear and front seats. Moreover, in eight-seater vehicles minimum six airbags have been made compulsory by the government in the year 2019. By seeing all rules and regulations nowadays, most of the vehicle manufacturers have started to install two-side torso airbags and two-side curtain/tubes to provide the ultimate safety to the passengers across all segments.

Browse more than 25 market data figures and spread through 70 Pages and an in-depth TOC on “INDIA AIRBAG MARKET"

The India airbag market has been segmented based on vehicle type, by airbag type, and by demand category, by region. In terms of vehicle type, the India airbag market is segmented into hatchback, SUV & MPV, sedan, and LCV. In India, the automotive production is dominated by hatchback vehicles. Most of the hatchbacks produced by automotive manufacturers have a single or double airbag in their expensive vehicle variants. Under the vehicle type segment, hatchback has dominated the market with a total share of 47.15% and followed by SUV & MPV with a share of 29.92%.

In terms of airbag types, the Indian airbag market is segmented into front airbag, knee airbag, and curtain airbag. In India, more than 3 million units of cars are produced every year and the automotive market is a hub for passenger car production. The growing income and urbanization have given a boost to the purchasing power of the consumers. Buyers are looking for the safer car option in the market due to which the demand for vehicles with safety features has increased and the sales of the passenger cars with advanced safety features have increased in the market. The standard of living of the people is improving as their income is increasing and because of this their interest in safer and premium cars for commuting is also getting developed. Furthermore, consumers are looking for preinstalled or aftermarket airbag-fitted cars.

As a measure to counter the spread of the COVID-19 pandemic, many countries across the globe faced lockdown in the second and third quarters of 2020, due to which the sales of new cars (hatchback, SUV&MPV, sedan) went down. and consequently, the demand for airbags were also down. As the automotive manufacturing plants were closed and the production was stopped for some time, the airbag manufacturers faced many difficulties to sell the airbags, as the aftermarket demands for the airbags was very low.

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Some of the major players operating in the India airbag market are Toyoda Gosei Minda India Private Limited, Autoliv India Private Limited, Rane TRW Steering Systems Limited, Takata India Private Limited, Mobis India Limited, Ashimori India Private Limited, Denso International India Pvt. Ltd., Bosch Limited, Continental India Private Limited, and Daicel Chiral Technologies India Private Limited. Apart from these companies, local unorganized car parts dealers are also increasing their marketing activities and enriching their product portfolio in the country to increase their customer outreach.

“In 2021, North India accounted for the largest share i.e., 29.66% in the India airbag market. The northern region is expected to maintain its dominance over the next five years with a market share of 30.91%. Rising demand for the advanced safety vehicles, increasing passenger car production, stringent government policies, rising income, and growing demand have increased sales of airbags in the market as the automotive manufacturers are using more airbags now”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“India Airbag Market By Vehicle Type (Hatchback, SUV/MPV, Sedan), By Airbag Type (Front Airbag, Knee Airbag, Side Airbag, and Curtain Airbag), By Region, By Company (2021), Forecast & Opportunities, 2017- 2027F, has evaluated the future growth potential of India airbag 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 India airbag market.

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Monday 22 August 2022

Wallbox Electric Vehicle Charger Market Projected to Register an Impressive Growth Through 2027

The increasing sales of electric vehicles and the rising government support to propel the adoption of electric vehicles are primarily driving the growth of global wallbox electric vehicle charger market.

According to TechSci Research report on, “Wallbox Electric Vehicle Charger Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, the global wallbox electric vehicle charger market is anticipated to witness robust CAGR over the forecast period 2023-2027. The market growth can be attributed to the increasing sales of electric vehicles, which has accentuated the need for wallbox electric vehicle chargers. The electric vehicle manufacturers are investing heavily in electric vehicle charging tools and infrastructure to offer efficient charging systems. Moreover, the cost of maintaining electric vehicles is lower than the traditional petrol/diesel cars. Apart from this, the depleting non-renewable resources are adding to the need for electric vehicles. In addition, with the rising carbon footprints from the conventional ICE combustion vehicles, the governments of several nations are introducing favorable initiatives to proliferate the adoption of electric vehicles and home wallbox charger units to curb the emission levels. Vehicles are the primary contributor to air pollution as they generate significant amounts of particulate matter, nitrogen oxide, and carbon monoxide. The growing adoption of electric vehicles will help in curbing greenhouse gases and carbon emissions along with saving non-renewable resources. Besides, the electric vehicle wallbox charger facilitates safer charging because these chargers automatically test the connection between the car and the device before starting the charging event. Moreover, safety can be increased with dynamic load management if there are multiple charging points in the same property. Additionally, the wallbox electric vehicle charger enables much faster charging. For instance, electric cars with an average battery capacity of 55kWH need to be connected to the electric vehicle charger for approximately 24 hours to be charged from the minimum level to the maximum level. As a result, the global wallbox electric vehicle charger market holds a huge potential and is anticipated to grow at a rapid pace in the coming years.

Browse over XX market data Figures spread through 110 Pages and an in-depth TOC on "Global Wallbox electric vehicle Charger Market"

The global wallbox electric vehicle charger market is segmented by product type, end use, competitive landscape, and regional distribution. Based on the product type, the market is bifurcated into AC type 1 wallbox charger and AC Type 2 wallbox charger. Among these, the AC Type 2 wallbox charger segment is anticipated to hold a significant market share. This type of charger is considered to be the most versatile and cost-effective electric vehicle charger. The type-2 charger has both single-phase (7.4 KW) and three-phase (22KW) variants. AC type 2 charger provides power to the onboard charger of the vehicle, which helps in converting the AC power to DC power and recharging the battery. Type-1 wallbox charger features a single-phase plug and can charge up to 7.4 kW, whereas Type 2 wallbox charger is a triple-phase plug and can charge at a level of up to 43 kW. Moreover, the type 2 charger has become a standard charger from 2018 onwards, particularly for vehicles across Europe and Asia.

By end user, the market is divided between residential and commercial. Among these, the residential segment is projected to hold a considerable market share over the forecast years. This is primarily because the procedure of installing a wallbox charger in a commercial space is more complex than the residential locations. A commercial installation requires permits, community guidelines, electrical source or metering, zoning requirements, and inspection fees. As a result, the number of wallbox electric vehicle chargers is more in the residential segment as compared to the commercial segment.

A list of major market players of the global wallbox electric vehicle charger market includes:

Wallbox AB
E-Station
BJA trading group (Sevadis)
Enel X S.r.l.
Lectron electric vehicle.
LUAO
ChargePoint
United Chargers Inc.
Enphase Energy, Inc. (Clipper Creek)
Tesla Inc.

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“Governments of various nations are offering subsidies, rebates, fixed quotas, and tax exemptions to electric vehicle manufacturers in order to increase the adoption of electric vehicles. This eventually is augmenting the need for wallbox electric vehicle chargers. Moreover, stringent regulations by the concerned authorities regarding vehicle emissions have pushed consumers to opt for electric vehicles. Apart from this, the leading market players are increasingly introducing technologically advanced products, which is providing a thrust to the market. For instance, KEBA has recently launched 1.9.2 wall box software which will have OCPP 1.6 control options via web interface. New market players are advised to introduce chargers that match the standards set by the government. Also, offering the installation of wallbox electric vehicle chargers at a low cost can be a viable strategy to attract a larger customer base, which is expected to boost the growth of the global wallbox electric vehicle charger market.” said Mr. Karan Chechi, Research Director, TechSci Research, a research based global management consulting firm.

“Wallbox electric vehicle charger Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Product Type (AC Type 1 Wallbox Charger, AC Type 2 Wallbox Charger), By End Use (Residential, Commercial), By Region (North America; Europe; Asia Pacific; Rest of the World) and By Region” has evaluated the future growth potential of global wallbox electric vehicle charger 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 global wallbox electric vehicle charger market.

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Automotive E-Horizon Market Anticipated to Register an Impressive Growth Through 2027

Enhanced focus of auto manufacturers on reducing car accidents with innovative systems and enhance fuel-efficiency is expected to drive the global market for automotive e-horizon over the forecast period.

According to TechSci report on, “Automotive E-Horizon Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, the global automotive e-horizon market is anticipated to witness robust CAGR over the forecast period 2023-2027. Rapidly expanding automotive industry is fueling the growth of the automotive e-horizon content and services across the globe. Moreover, with the growing purchasing power of consumers, the sales of all vehicle types, i.e., electric, ICE and autonomous, have proliferated over the recent years. This has eventually increased the adoption of automotive e-horizon by several automakers. Furthermore, the rising incidences of road accidents have pushed the product demand as the e-horizon system helps in predicting the future hazard, if any, by analysing the road surface and weather conditions. The United States is one of the busiest countries in term of road traffics, with approximately 284 million vehicles on the road as of the third quarter of 2020. The road-related severe injuries recorded in June 2019 were nearly 2.74 million in USA. As a result, the top automobile manufacturers are increasingly incorporating e-horizon systems to curb the incidences of road accidents. Besides, the rising level of carbon and greenhouse emissions from vehicles is acting as an alarming concern for the environment. Moreover, the growing scarcity of fuel is also increasing the dependence on the e-horizon system as it helps in saving fuel by consuming less fuel through predictive driving based on up-to-the-minute data for the route ahead. In addition, this system facilitates longer ranges for hybrid and electric vehicles by optimizing the energy management system. As a result, the global market for automated e-horizon holds a huge potential and is anticipated to grow at a rapid pace in the coming years.

Browse over XX market data Figures spread through 110 Pages and an in-depth TOC on "Global Automotive E-Horizon Market"

The global automotive e-horizon market is segmented by ICE vehicles (excluding autonomous), electric vehicles (excluding autonomous), autonomous vehicles, competitive landscape, and regional distribution.

ICE vehicles are anticipated to hold a significant market share in the coming years. This is primarily due to the growing presence of ICE vehicles on the road, compared to electric and autonomous vehicles. Rising concerns towards the rising number of road accidents are also proliferating the adoption of automotive e-horizon systems. Moreover, the increasing greenhouse and carbon emissions from the ICE vehicles are adding to the demand for automotive e-horizon systems. This system optimizes the performance of the vehicle by providing the correct route with real-time data related to traffic and weather conditions, thereby saving time and fuel and resulting in less greenhouse gas emissions.

The integration of e-horizon in autonomous vehicles will work as leverage in increasing trust and reliability in automated car systems. This software helps in building trust by directing the car what lies ahead of the road so that the autonomous car can drive better on its own. By combining e-horizon content and services, vehicle manufacturers can deploy a complete and future-proof location solution for the car.

A list of major market players of the global automotive e-horizon market includes:

Continental AG
Robert Bosch GmbH
HERE

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“The global automotive e-horizon market is consolidated between the three top leading companies, Continental AG, Robert Bosch GmbH, and HERE. The technological advancements by these companies and the introduction of advanced e-horizon content and services are expected to support the market growth. For instance, the introduction of Electronic Horizon by HERE creates a simple representation of the route ahead – with a range of a few hundred meters to several kilometers. Then, it transmits the information of that route to the vehicle’s advanced driver assistance systems (ADAS), which optimizes the performance of the engine and enhances the safety of the passenger and the vehicle by accurately predicting the upcoming events. Moreover, the increasing support by the government for an optimized driving style that would help in minimizing the vehicle’s fuel consumption and environmental footprint is further expected to boost the market growth.,” said Mr. Karan Chechi, Research Director, TechSci Research, a research based global management consulting firm.

“Automotive E-Horizon Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027

Segmented By ICE Vehicles (Excluding Autonomous), Electric Vehicles (Excluding Autonomous), Autonomous Vehicles and By Region” has evaluated the future growth potential of global automotive e-horizon 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 global automotive e-horizon market.

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Thursday 18 August 2022

Autonomous Vehicle Testing Market Projected to Register an Impressive Growth Through 2027

Rising carbon footprints across the globe and the growing incidences of road accidents are driving the global market for autonomous vehicle testing over the forecast period.

According to TechSci Research report on, “Autonomous vehicle testing Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, the global autonomous vehicle testing market is anticipated to witness robust CAGR over the forecast period 2023-2027. The significant growth in the automotive industry is fueling the growth of the autonomous vehicle testing market. Moreover, with the increasing purchasing power of consumers, the sales of autonomous vehicles are rising at a rapid rate. This has eventually increased the demand for autonomous vehicle testing across the globe. Furthermore, the rising incidences of road accidents have pushed the demand for testing the automated components of vehicles. For instance, nearly 1.3 million people die as a result of road traffic crashes annually. In addition, 20 to 50 million people suffer severe injuries from road accidents, which can cause permanent disabilities. Besides, rising levels of carbon emissions from vehicles is acting as an alarming concern for the environment. Vehicles are the primary contributor to air pollution as they generate significant amounts of particulate matter, nitrogen oxide, and carbon monoxide. Vehicle testing helps monitor carbon emissions with a series of tests such as acceleration simulation mode (ASM) test, on-board diagnostic (OBD) inspection, and testing excessive HC or CO levels. Besides, emergence of numerous leading companies, particularly in emerging economies are expected to propel the market growth. Moreover, increasing autonomous vehicle production is anticipated to eventually fuel the demand for autonomous vehicle testing to ensure that the vehicle meets the regulatory standards associated with performance, technical safety, fuel efficiency, etc. Hence, the global market for autonomous vehicle testing holds a huge potential and is anticipated to grow at a rapid pace in the coming years.

Browse over XX market data Figures spread through 110 Pages and an in-depth TOC on "GLOBAL AUTONOMOUS VEHICLE TESTING MARKET"

The global autonomous vehicle testing market is segmented on the basis of test type, vehicle type, vehicle autonomy, competitive landscape, and regional distribution. Based on test type, the market is differentiated between software testing, simulation testing, driving testing, and others. The simulation testing segment is expected to hold a considerable market share over the forecast period, owing to rising production and sales of autonomous vehicles. Autonomous vehicles require large-scale testing and have to undergo a series of assessments before they can be deployed. Testing the vehicle on road is capital intensive while simulation testing enables engineers to deliver innovations faster by anticipating validation through digital prototyping. Hence, the greater advantages of simulation testing over physical testing are boosting the segment growth.

By vehicle type, the market is bifurcated into passenger car and commercial vehicle. The passenger car segment is anticipated to hold a significant market share over the coming years. This is primarily due to the growing purchasing power of the consumers, which are encouraging buyers to opt for autonomous vehicles. As a result, the demand for vehicle testing in autonomous passenger cars has increased over the time.

Based on vehicle autonomy, the market is divided between Level 1, Level 2, Level 3, and Level 4/5. Among these, the Level 3 segment is anticipated to hold the largest market share over the forecast period. Since Level 1 and Level 2 cars have very less automated components, they do not require to be frequently tested via certain assessments. The level 4/5 cars are highly autonomous so they do not require any human intervention. However, Level 4/5 autonomous cars are less available in the market compared to Level 3 autonomous cars in the market. Hence, emerging number of automotive players launching Level 3 autonomous cars and their growing adoption are expected to boost the segment growth.

A list of major market players of the global autonomous vehicle testing market includes:

Intertek Group plc
AB Dynamics
Google (Waymo)
Tesla Inc
Toyota Motor Corporation

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“Europe is estimated to hold the largest market share during the forecast period. This can be attributed to the economic growth in the region, rising working population, and introduction of favorable government policies attracting several leading autonomous automotive players such as Tesla, AB Dynamics, and Google to establish their plants. The widespread availability of autonomous vehicles and the growing purchasing power of consumers are eventually increasing the demand for autonomous vehicle testing in the region. Furthermore, the rising demand for autonomous and luxury vehicles for enhanced convenience and connectivity is supporting the market growth. Besides, growing innovations in autonomous automotive testing and introduction of the best-in-class testing solutions such as cloud-based service in vehicle testing are contributing to the market growth. With cloud-based tools, testers can carry out mobile and web testing in different environments and machines without the need to set up any infrastructure, which makes automotive testing scalable and cost-efficient.” said Mr. Karan Chechi, Research Director, TechSci Research, a research based global management consulting firm.

Press Release : https://www.techsciresearch.com/news/7457-autonomous-vehicle-testing-market.html

“Autonomous Vehicle Testing Market – Global Industry Size, Share, Trends, Opportunity and Forecast, 2023-2027 Segmented By Test Type (Software Testing, Simulation Testing, Driving Testing, Others), By Vehicle Type (Passenger Car, Commercial Vehicle), By Vehicle Autonomy (Level 1, Level 2, Level 3, Level 4/5) and By Region” has evaluated the future growth potential of global autonomous vehicle testing 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 global autonomous vehicle testing market.

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UAE Landscaping Market to Grow at a CAGR of 8.21% through 2027

Growing demand for commercial office spaces is expected to drive the demand for the UAE landscaping market over the forecast period, 2023-2027.

According to TechSci Research report, “UAE Landscaping Market - By Region, Competition Forecast & Opportunities, 2017-2027”, the UAE landscaping market stood at USD1217.00 million in 2021 and is anticipated to grow at a CAGR of 8.21% in the forecast period, to reach USD1966.03 million by 2027. The growth of the market is attributed to factors such as the growing construction of residential apartments, with garden spaces and commercial office spaces and favorable government initiatives for infrastructural developments across the country. The government is working on income diversification and reducing the dependency on the oil revenue, and actively supporting the country's sustainable development. Leading authorities introduced the Green Economy program "A green economy for sustainable development" in 2012, which promotes organic agriculture, maintains biodiversity, and protects the ecological balance. The rise in efforts by the government to achieve a green economy is expected to propel the UAE landscaping market growth over the next five years.

However, the increased demand for exotic species and problems regarding water scarcity may restrain the UAE landscaping market growth in the forecast period.

Browse over 22 market data Figures spread through 147 Pages and an in-depth TOC on "UAE Landscaping Market"

The UAE landscaping market is segmented into type, service type, customer segment, sectors, regional distribution, and competitive landscape.

Based on type, the market is divided into installation and maintenance. The installation segment held the largest market share and captured 58.92% in 2021. The country is focusing on infrastructure development and is developing new properties and infrastructure. Leading authorities are also renovating the existing infrastructure to make it sustainable and lower environmental pollution.

Based on customer segment, the market is divided into commercial, residential, and industrial. The commercial segment is expected to lead the market and grow at a CAGR of 7.78% over the next five years, 2023-2027. The segment growth is driven by the massive demand from the hotel, malls, retail outlets, offices, and buildings in Dubai, Abu Dhabi, and Sharjah. Dubai accounts for a majority of the infrastructure development projects as the government invests significant amounts in improving the living standards and developing world-class infrastructure in the emirate.

Based on sectors, the market is segmented into healthcare, hospitality, office, institutional, retail, housing, and others. The housing sector dominated the market in 2021 and is expected to grow at a CAGR of 8.85% in the forecast period to reach USD802.78 million by 2027. The major application of the landscaping segment is in the residential sector, and the massive ongoing infrastructure development in the residential sector drives the market growth. UAE government is working to develop smart and sustainable cities to preserve the environment and maintain the balance between economic and social development.

On the basis of regional analysis, Dubai held the dominant market share in 2021 and captured 48.85% of the total market share. The major drivers for the UAE landscaping market in Dubai are the continuous rise in the population and the growing investments in commercial and housing sectors. Also, Dubai witnesses high tourist footfall every year, and the increase in the number of tourists is boosting the growth of the hotel industry, hence the demand for landscaping services.

Major market players operating in the UAE landscaping market are:

Azhar Al Madina Landscape
Green Vista Pools and Landscaping LLC
Agroturf Landscaping and Gardening LLC
Silver Fox Contracting LLC
TerraVerde LLC
Desert Group
Aswat Almadinah Landscaping Works LLC
Perfect Technical Works & Landscaping LLC
Emirates Landscape L.L.C.
Opal Landscaping L.L.C
Proscape LLC
Citiscape LLC
Cracknell Landscape Design LLC
Areej Landscaping
Basatin Landscaping LLC
Al Jurf Development Projects LLC
Bilt Middle East LLC
Gulf Dunes Landscaping and Agricultural Services

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“UAE witness harsh climatic conditions throughout the year and has dry land and infrequent precipitation. The advent of the xeriscaping technique refers to the innovative use of gardening and landscaping to minimize or eliminate the requirement for additional water for irrigation. It is a technique used for drought-prone areas and areas that want to conserve water. Xeriscaping designers use low-growing native groundcover species as it uses less water and maintenance to replace lawn grass. The rise in focus on sustainability of private and public market players and the ongoing advancements in technology are expected to propel the UAE landscaping market growth till 2027”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

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“UAE Landscaping Market By Type (Installation, Maintenance), By Service Type (Hardscape, Softscape), By Customer Segment (Commercial, Residential, Industrial), By Sectors (Healthcare, Hospitality, Office, Institutional, Retail, Housing, Others), By Region (Dubai Emirate, Abu Dhabi Emirate, Sharjah Emirate, Other Emirates), Competition, Forecast & Opportunities, 2017-2027,” has evaluated the future growth potential of UAE landscaping 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 landscaping market.

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Wednesday 17 August 2022

Elevator & Escalator Market to Grow With an impressive CAGR of 4.91% till 2027

The growing construction of high-rise buildings and increasing focus of the government on building smart cities are expected to fuel the growth of Global elevator & escalator market over the coming years.

According to TechSci report on, “Elevator & Escalator Market - Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2027”, the global elevator & escalator market stood at USD82473.94 million in 2021 and is expected to grow at a CAGR of 4.91% in the forecast period. The market growth can be attributed to a number of factors such as the construction of taller buildings, the growing trend of a fast-track lifestyle and increasing capital inflow into the real-estate sector. Moreover, with the growing urbanization, the demand for ease and comfort facilities like elevators and escalators has transitioned from a luxury to a necessity. In addition, the growing preference to have updated aesthetics in residential and commercial buildings is also adding to the growth of the global elevators & escalators market. Besides this, the governments of several developing nations are looking forward to transitioning cities into smart cities, automating the building operations, and accommodating the increasing urban population. For this, governments are increasingly investing in infrastructural development, which is likely to provide a boost to the global market. Furthermore, several key market players are introducing technologically advanced products to deliver Ultra-high-speed elevators suitable for skyscrapers. For instance, Hitachi has recently delivered ultra-high-speed elevators enabling a speed of 1260 m/min to Guangzhou CTF Finance Center, China. All these above-mentioned factors are anticipated to bolster the growth of the global elevator & escalator market over the forecast period.

Browse over 285 market data Figures and 25 Tables spread through 442 Pages and an in-depth TOC on "Global Elevator & Escalator Market"

The Global Elevator and Escalator Market is divided on the basis of type, service, end-user, elevator technology, elevator door type, regional distribution, and competitional landscape. Based on type, the market is further fragmented into elevator, escalator, and moving walkways. The elevator segment is projected to grow with an impressive CAGR of 5.02% over the estimated period due to the rising construction of high-rise residential and corporate buildings.

Based on service, the market is segmented into new installation, maintenance & repair, and modernization. Among these, the new installation segment is expected to dominate the market due to the expansion of high-rise residential buildings along with the growing commercial sector. Moreover, an increase in new plans and projects for the construction of skyscrapers is also bolstering the market growth. In addition, the focus of governments of several developing nations on building smart cities and rapid progress in infrastructure, including metro and railway development projects, is expected to propel the demand for the installation of elevators & escalators.

Segmentation of the global market on the grounds of the end-user is done into residential, commercial, institutional, infrastructural, and others. Among these, the residential is anticipated to dominate the market and held a market share of 52.74% in 2021. The growing expansion of commercial buildings and office spaces in metropolitan cities has significantly boosted the installation of elevators and escalators. Moreover, the rising investments in improving the healthcare infrastructure have also increased the demand for such products. The increasing number of shopping complexes, hotels, and restaurants are increasingly installing elevators and escalators to provide the consumers an ease of commuting within the premise, which is bolstering the employment of elevators and escalators in the commercial sector.

In terms of service, new installation is the leading segment due to the expansion of high-rise residential buildings combined with a growing commercial segment and increasing capital arrival into the real-estate sector. Additionally, an increase in new plans and projects for the construction of skyscrapers is also boosting the market growth. Additionally, the government's focus on smart cities and progress in infrastructure, including metro and railway development projects, is expected to have an optimistic impact on the Global Elevator & Escalator Market. Moreover, an increasing number of tourists, the increasing development of green buildings, and increasing infrastructure projects also generate demand for the installation of elevators & escalators.

Based on elevator technology, the market is segmented into traction, hydraulic, and machine room-less traction. Among these, traction technology is the leading segment, with a market share of 79.35% in 2021. The traction elevators use flat steel belts rather than traditional steel ropes. Flat steel belts are light in weight due to their carbon fiber core and high-friction coating, and these flat belts can work for a prolonged period of time without any oil or lubricant. As a result, traction elevators are widely used in commercial and residential buildings.

A partial list of major market players in the Global Elevator & Escalator Market includes:

Otis Worldwide Corporation
Schindler Group.
KONE Corporation
Mitsubishi Electric Corporation
TK Elevator GmbH
Hitachi, Ltd.
Fujitec Co., Ltd.
Hyundai Elevator Co., Ltd.
Toshiba Elevator and Building Systems Corporation
Canny Elevator Co., Ltd.
Orona S. Coop.

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“The leading manufacturers in the global elevator and escalator market are making substantial efforts toward achieving sustainability in their processes, products, and services. The companies are increasingly working on updating and maintaining their Environment Management System (EMS), duly certified under ISO 14001. By using suitable and eco-friendly materials in the manufacturing of elevators and escalators along with the adoption of industrial automation, the companies commit to minimize their carbon footprints. In addition, increasing technological advancements and the growing customer focus on high-end design is driving the demand for smart elevators. Smart elevators, also known as green or energy-efficient elevators, are equipped with high-end security features such as Radio-frequency identification (RFID), biometrics, touch sensors, and a voice-operated command system. New entrants are advised to launch energy-efficient elevators and escalators in order to establish their name in the market,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Press Release : https://www.techsciresearch.com/news/7455-elevator-and-escalator-market.html

“Elevator & Escalator Market – Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2017-2027 Segmented By Type (Elevator, Escalator & Moving Walkways), By Service (Maintenance & Repair, New Installation and Modernization), By End User Industry (Residential, Commercial, Institutional, Infrastructural & Others), By Elevator Technology (Traction, Hydraulic & Machine room-Less traction), By Elevator Door Type (Automatic and Manual), By Region” has evaluated the future growth potential of Global Elevator & Escalator 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 Global Elevator & Escalator Market.

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Tuesday 9 August 2022

Global Biofertilizers Market Growth, Trend, Size & Forecast 2027

Global biofertilizers market is anticipated to witness robust growth during the forecast period owing to the growing adoption of advanced and sophisticated technologies by farmers to increase arable land and improve the overall productivity. In addition to this, growing fondness for organic food among the health-conscious population is driving the demand for biofertilizers over chemical fertilizers across the globe. Several initiatives and favorable regulations laid by government agencies and groups would further fuel the growth of global biofertilizers market through 2027.

Additionally, rising acceptance for advanced farming with drip irrigation and sprinklers is also one of the key factors for the growth of global biofertilizers market. Biofertilizers are used to increase fertility of the soil and crops. They contain micro-organisms which help the soil to gain its nutrient back.

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The global biofertilizers market is categorized based on type, form, crop, application, microbe type and region. Based on type, the market is categorized into nitrogen-fixing biofertilizers, phosphate-solubilizing biofertilizers, potash-mobilizing biofertilizers and others. The nitrogen-fixing biofertilizer is expected to undergo fastest growth during the forecast period as they help strengthen agriculture production capacity. They can be used for leguminous as well as for non-leguminous crops.

Based on form, the global biofertilizers market is segmented into liquid and carrier-based. Among them, the liquid-based segment is undergoing fastest growth and is expected to record largest market share by 2027. They have higher shelf life as compared to carrier-based biofertilizers with a life expectancy of 2 to 3 years. This makes liquid biofertilizers more convenient and affordable for farmers.

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Major players operating in the global biofertilizers market are Novozymes A/S, CBF China Bio-Fertilizer AG, AgriLife, Mapleton Agri Biotech Private Ltd, Biomax, Rizobacter Argentina S.A., Symborg S.L., National Fertilizers Ltd, Growing Power Hairy Hill and Antibiotice S.A., among others. Leading companies are focusing on research activities as well as distribution partnership to enhance their share in global market.

Objective of the Study:

To outline, classify and estimate the global biofertilizers market on the basis of type, form, crop, application, microbe type and regional distribution.
To study and forecast the global market size of the biofertilizers, in terms of value and volume.
To project the size of biofertilizers market, in terms of value and volume, with respect to key types such as nitrogen-fixing biofertilizers, phosphate-solubilizing biofertilizers, potash-mobilizing biofertilizers and others.
To understand the regional market structure of Biofertilizers market, the global biofertilizers market is segmented in five regions, namely – Asia-Pacific, North America, Europe, Middle East & Africa and South America and forecast the market size, in terms of value and volume.
To identify the detailed information about the prime factors affecting the global biofertilizers market.
To evaluate competitor pricing, average market selling prices and margins in the global biofertilizers market.
To examine competitive developments such as expansions, government policy and investments, new entrants in the global biofertilizers market.
To strategically profile the leading players in the market which are involved in the manufacturing and supply of biofertilizers worldwide.

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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 leading biofertilizer manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the company personnel were also enquired about their key products, manufacturing plant location, prices of products and competitors. Through this technique, TechSci Research was able to include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the type, form, crop, application, microbe type and regional presence of all major biofertilizer manufacturers across the globe.

TechSci Research calculated the market size for global biofertilizers market using a bottom-up approach, where manufacturers’ value sales data for standard types were recorded and forecast for the future years. TechSci Research sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources, secondary sources directories, databases such as International Fertilizer Association (IFA), British Agrochemicals Association, The Fertilizer Association of India (FAI), Organic Fertilizer Association of California (OFAC), company annual reports, white papers, investor presentations and financial reports were also used by the TechSci Research.

Key Target Audience:

Biofertilizers manufacturers and suppliers
Research organizations and consulting companies
Trade Associations, organizations, forums and alliances related to biofertilizers
Government bodies such as regulating authorities and policy makers
Industry associations
Market research and consulting firm

Some Inputs are there :

1. What are the are key factors driving the growth of Global Biofertilizers Market.
Increasing demand for organic food and growing awareness for bio-based plant growth stimulators are key factors driving the growth of global biofertilizers market during forecast period.

2. What are the Major Segments in Global Biofertilizers Market.
The global biofertilizers market is categorized based on type, form, crop, application, microbe type and region.

3. Who are the Major players operating in the Global Biofertilizers Market.
Major players operating in the global biofertilizers market are Novozymes A/S, CBF China Bio-Fertilizer AG, AgriLife, Mapleton Agri Biotech Private Ltd, Biomax, Rizobacter Argentina S.A., Symborg S.L., National Fertilizers Ltd, Growing Power Hairy Hill and Antibiotice S.A., among others.
Based on type, nitrogen-fixing biofertilizers segment is expected to hold the largest share in global biofertilizers market during forecast period.

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