Vietnam Electric Bus Market Is Dominated By Northern Region And It Is Expected To Lead By 2027F

 Increasing adoption of advanced charging technology for electric buses and increasing urbanization in the country drives the Vietnam Electric Bus Market through 2027.

According to TechSci Research report, “Vietnam Electric Bus Market - Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2017-2027”, Vietnam electric bus market is rapidly gaining pace in all regions. The growing popularity of electric buses on the road in all regions of Vietnam is driving up demand for buses. Growing need for low-emission and fuel-efficient buses is driving up market demand for electric vehicles. Owing to Vietnam's expanding infrastructure, which is expected to support steady economic growth and rising personal disposable incomes, the infrastructure for electric buses is also growing in the country. The market for electric buses in Vietnam is also influenced by the widespread use of zero emission vehicles penetration.

There is a high demand for electric buses in transportation fleets due to growing urbanization and pollution levels, which has led to an increase in the use of electric passenger vehicles. Additionally, strict requirements for manufacturers to produce fuel-efficient and environment-friendly electric cars are encouraging the growth of the Vietnam electric bus industry. Furthermore, the need for transportation has increased as a result of growing urbanization, particularly in developing countries such as Vietnam, which is also supporting the market for electric buses within the country. Vinbus and Star Charge signed a contract in November 2020 to supply smart charging technologies for charging stations.

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Global trade is disrupted by the COVID-19 pandemic. Even though the business sector was badly damaged, Vietnamese government took rapid and efficient pandemic containment measures to lessen the damage.  Furthermore, the pandemic had a significant impact on the automotive industry and the sales decreased by 60%. Moreover, this hinders investment in the market for electric vehicles. Hanoi city needs to invest more than 887 million USD to replace all diesel and gasoline-powered buses with electric alternatives in the subsequent years.

Battery packs are considered to be an important investment component that affects the market's long-term growth. Reducing battery costs are a top priority for electric bus producers because they account for 65-70% of the total cost of the bus. Vinfast invested USD 174 million in a VinES battery manufacturing facility in Ha Tinh city in December 2021. This facility has the capacity to manufacture 100,000 lithium-Ion battery packs yearly. As a result, more electric buses are anticipated in the upcoming years, which will expand the overall market.

On the basis of on seating capacity, 31-40 seater buses dominate the market and it is expected to lead in the upcoming years, followed by above 40 seater buses for long distance travel. Based on application, intracity travel is dominating the market. Based on length of the bus, 9-12 m segment is leading the market followed by above 12 m. In 2021, Northern region dominated the market for electric buses in Vietnam and it is expected that it will continue to lead the Vietnam electric bus market during the forecast period, followed by southern region and then central region.

The Vietnam Electric Bus Market can be segmented on the basis of seating type, battery type, application, bus length, and region. Based on seating capacity, the market is segmented into up to 30 seater, 31-40 seater, above 40 seater. Based on battery type, the market is bifurcated into lead acid and lithium ion. On the basis of application, the market is segmented into intercity, intracity, and airport bus. On the basis bus length, the market is segmented into 6-8 m, 9-12 m, and above 12 m.

Some of the major companies operating in the Vietnam Electric Bus Market include:

• Vingroup JSC

The key players have been developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers with tech firms, new product developments, and marketing activities to increase customer outreach.

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“The market for electric buses is being driven by an expansion of the charging infrastructure and the development of more advanced battery packs with longer range and lower cost. As more competitors enter the market and provide high range and low-cost vehicles, the use of electric buses for intracity as well as intercity travel is projected to grow during the forecast period,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Vietnam Electric Bus Market By Seating Capacity (Up to 30, Seater 31-40, Seater Above 40), By Battery Type (Lead Acid, Lithium ion), By Application (Intercity, Intracity, Airport Bus), By Bus Length (6-8 m, 9-12 m, Above 12 m), By Region, Competition Forecast & Opportunities, 2018-2027” has evaluated the future growth potential of Global Electric Bus 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 global automotive battery management system market.

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Automotive Axial Flux Motor Market to be Valued over USD 496 Million by 2027

 Development in research & development of axial flux motor and upsurge in the demand for zero emission electric vehicles is expected to drive the growth of global automotive axial flux motor market during the forecast period, 2022-2027.

According to TechSci Research report, “Automotive Axial Flux Motor Market - Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2017-2027F”, Global Automotive Axial Flux Motor Market was valued USD 108 Million in 2021 and is predicted to grow at CAGR of 29.80% through 2027 as it has the potential to replace radial motors owing to their power efficiency, compact size, and high torque specification.

The geometry of an axial flux motor is distinct from that of a radial motor. It uses the same electrical components as radial flux motors but produces better torque and power density. In axial flux motors, the magnetic flux direction is parallel to the motor rotation axis, but in radial flux motors, the magnetic flux direction is radial. Nearly every operating principle, including brushed DC, induction, and stepper motors, can be used in axial geometry. Axial flux motors are sometimes referred to as flat motors due to their extremely low axial length-to-diameter ratio.

In order to address environmental issues, electric vehicles are considered alternatives to conventional automobiles with combustion engines. Automotive electric car sales reached 6.6 million in 2021, according to the Global Electric Vehicle Outlook from the International Energy Agency (IEA). Axial-flux motors are majorly used in electric vehicles. Since they are small, light, and efficient, axial flux motors are ideal for use in electric vehicles. Overall, this has a positive impact on the future growth of the automotive axial flux market. Furthermore, in terms of internal combustion engines, axial flux motors are comparable to turbocharged engines. Strong hardware and electromagnetic motor designs are needed for axial flux motors. Moreover, in 2022, Mercedes acquired YASA, a producer of axial flux motors, in order to start a new motor production line. Moreover, Magnax, a Belgian company, raised 20 million euros in August 2022 for the development and manufacturing of axial flux motors. In November 2021, in order to create axial flux motors on a large scale, the Renault Group purchased a 21% minority investment in Whylot, a maker of vehicle e-motors.

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Axial flux motors are perfect for commercial machinery such as industrial robots, pumps, compressors, electrical vehicles, and drones due to their small size and high-power density. Axial flux motors produce 30–40% greater torque and have a higher power density than radial motors of equal size. Axial flux motors, and in particular the yokeless version, are anticipated to capture an ever-increasing share of the expanding electric motor market.

The Asia-Pacific region being the largest market for electric vehicles is expected to register a high CAGR during the forecast period. Moreover, European region having majority of shares dominate the market. On the basis of vehicle type, passenger car segment is dominating the market currently owing to global rise in electric passenger vehicle sales.  Majority of market is covered by battery electric vehicles followed by plug-in hybrid electric vehicles. Based on demand category, OEM is expected to dominate the global automotive axial flux motor market.

The global automotive axial flux motor market can be segmented on the basis of vehicle type, propulsion, demand category, and region. Based on vehicle type, the market is further segmented into passenger car, light commercial vehicle, medium & heavy commercial vehicle, and two wheeler. Based on propulsion type, the market is further split into BEV, HEV, and PHEV. Based on demand category, the market is divided into OEM, Aftermarket. On the basis of region, the market is divided among Asia-Pacific, Europe & CIS, North America, South America, Middle East & Africa.

Some of the major companies operating in the Global Automotive Axial Flux Motor Market include:

• Whylot Electromechanical Solutions
• Emrax D.o.o.
• Lucchi R. E Motor Solution
• Agni Motors Ltd.
• YASA Limited
• Magnax BV
• Saietta Group Plc
• Turntide Technologies
• Maglec Propulsion Ltd
• Dana TM4

These are the key players developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers with tech firms, new product developments, and marketing activities to increase customer outreach.

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“The demand for the automotive axial flux market is expected to increase in the next few years owing to significant companies investing in the technology and rising sales of electric vehicles in several nations. Europe and the CIS region is expected to continue to lead by 2027, but Asia-Pacific will register a high CAGR owing to the region's significant sales of electric vehicles,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

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“Automotive Axial Flux Motor Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027F, Segmented By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle, Two Wheeler, Two Wheeler), By Propulsion (BEV, HEV, PHEV), By Demand Category (OEM, Aftermarket), By Region, Competition” has evaluated the future growth potential of Global Automotive Axial Flux Motor 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 global Automotive Axial Flux Motor Market.

 

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Electric Vehicle Test Equipment Market to register a CAGR of 12.22%, in terms of value until 2028

 Increasing concern for the environment coupled with escalation in adoption of electric vehicles is expected to lead to the growth of EV test equipment market.

According to TechSci Research report, “Electric Vehicle Test Equipment Market -  Global Industry Size, Share, Trends, Opportunity, and Forecast. 2018-2028, Global Electric Vehicle test equipment Market is anticipated to grow at a robust growth rate of 12.22% in terms of value during the forecast period, owing to sustainable expenditure of electric vehicle manufacturing & increase in demand of testing services & logistics industry. The test equipment in electric vehicles is used to test the interior system and components, such as EV battery and charger testing, power electronics testing, and motor and dynamometers, to ensure overall vehicle performance. Motor testing equipment, for example, is used to check torque or electric signal, high speed of an electric vehicle using sensors, voltage probes, and other software. The automotive and electronics industries have changed dramatically in recent years. The development and demand for safety features and advanced applications in vehicles, such as navigation systems, infotainment, adaptive cruise control systems, and electronic ignition systems, necessitates higher power, high-energy power conversion systems, and advanced powertrain systems.

Customers want modular test solutions with expandable power, integrated safety, larger operating envelopes, integrated measurements, and faster transient response times for current products. As a result, advanced test solutions have been developed to support the growth of the electric vehicle test equipment market over the anticipated time period by shortening development and testing times, lowering costs, and increasing energy efficiency. The growing demand for alternative fuel vehicles and connected mobility has boosted sales of electric vehicles. Governments around the world have implemented policies to promote electric vehicles to reduce automotive emissions and air pollution. The growing demand for electric vehicles is expected to drive the market.

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Global Electric Vehicle test equipment Market is segmented on the basis of equipment type, vehicle type, by propulsion type, by sourcing type and by region. Based on equipment type, the market is further split into battery test equipment, motor test equipment, chassis dynamometer, transmission dynamometer, inverter test equipment, on-board charger test equipment, & others. Based on vehicle type, the market is segmented into passenger cars and commercial vehicles. Increase in sales of electric passenger cars owing to presence of huge population and disposable income is driving the demand for EV Test Equipment . In terms of propulsion, battery electric vehicle is expected to be the fastest growing segment during the forecast period. As the adoption of electric vehicles is rising, the testing of battery electric vehicles is increasing rapidly which correspondingly escalates the demand of Electric Vehicle Test Equipment market and is expected to continue to grow sustainably. Based on propulsion type, the market is further segmented into battery electric vehicles (BEV) & hybrid electric vehicle (HEV). In hybrid electric vehicle (HEV), holds the major share in this segment due to the power generation and economic affordability.. Based on sourcing type, the market is further bifurcated into outsourcing and in-house. Outsourcing holds the major share because of the lack of infrastructure and skilled workers to operate the testing equipment.

Some of the major players operating in the Global Electric Vehicle Test Equipment Market include:

• Chroma ATE Inc.
• Horiba Ltd.
• TUV RHEINLAND Group
• Schneider Electric SE
• Intertek Group Plc
• Durr Group
• ZF Friedrichshafen AG
• AVL List GmbH
• FEV GROUP
• ABB Ltd.

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The demand for electric vehicle test equipment is anticipated to increase globally during the forecast period, on account of increased adoption of electric vehicles. Furthermore, as technological advancement spreads around the world, it will provide an opportunity for Electric Vehicle test equipment companies to continue innovating and investing in testing equipment.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

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“Electric Vehicle test equipment Market- Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028 Segmented By Equipment (Battery Test Equipment, Motor Test Equipment, Chassis Dynamometer, Transmission Dynamometer, Inverter Test Equipment, On-Board Charger Test Equipment & Others), By Vehicle Type (Passenger Car, Commercial Vehicle), By Propulsion Type (Battery Electric Vehicle (BEV) & Hybrid Electric Vehicle (HEV), Plug-in Hybrid Electric Vehicle (PHEV), By Sourcing Type (In house & Outsourcing), By Region, has evaluated the future growth potential of Global Electric Vehicle test equipment 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 Electric Vehicle test equipment Market.

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Philippines Tire Market to Reach USD 1.23 Billion by 2028

 The rising vehicle sales, innovation in tire technology, and favorable government policies are driving the demand of Philippines Tire market.

According to the TechSci Research report, "Philippines Tire Market - Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028F", the market is anticipated to be valued at USD 0.90 billion in 2022, registering a CAGR of 5.68% in the 2023E-2028F. Automotive tyres are pneumatic structures that are mounted on the rims of vehicles to transfer the vehicle's drive to the ground. Natural rubber, synthetic rubber, wire, and fabric are used to make tyres. Each tyre model is distinguished by a distinct rubber composition with varying degrees of hardness and temperature resistance. Steel mesh is attached to the rubber on the outside (the part that contacts the road) and the inside of tyres (the part that contacts the wheel). This improves the tire's durability and hardness, reducing the likelihood of a blowout.

The Philippines Tire Market is growing because of rising automotive sales and technological advancement. As tire manufacturers increasingly focus on developing and manufacturing high-tech tires for automobiles in the Philippines, technological advancements play an important role in the development of the Philippines tire market. One of the driving factors is rising disposable income and people's high standard of living. People's rising incomes have resulted in an increase in automotive sales in the country, and as a result, tire demand is rising. Furthermore, the disposable income level of the Philippines' middle-class population is rising, which has significantly increased demand for sedans over the years, is driving the Philippine tire market even further.

Another driving factor responsible the Philippines tyre market's increasing growth rate is its openness to trade. The Philippines' growing trade relations with various world economies has made the country a trade-friendly nation in the global market. Furthermore, the country's abundant mineral and natural rubber resources have benefited the country.

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The Philippines Tire Market is segmented on the basis of demand category, vehicle type, tire construction type, price segment, sales channel, and by region. Based on demand category, the market is segmented into OEM and replacement market. The replacement segment is leading the Philippines tire market with around 70% of the share. The high replacement rate is due to high wear and tear in tire and poor road conditions. By vehicle type, the market is segmented into two-wheeler, passenger car, light commercial vehicle, and medium and heavy commercial vehicle and OTR. Among them, two-wheeler has the greatest market share of around 60% because the Filipinos have their own vehicle due to poor public transport network. On the basis of tire construction type, the market is divided into radial and bias. Bias holds the largest share in this segment because smoother ride on rough surface and are less expensive than radial. Based on price segment, the market is divided into ultra budget, budget and premium. The ultra-budget is holding the highest share owing to high two-wheeler presence, as cost of the two-wheeler tire is low. Based on the sales channel, the market is segmented into online and offline. The offline channel is dominating this segment .

Some of the major players operating in the Philippines Tire Market include:

• Philippine Allied Enterprises Corporation
• Goodyear Philippines, Inc.
• Yokohama Tire Sales Philippines Inc.
• Tiara Commercial & Industrial Corp.
• Armstrong Enterprises Company, Inc
• Sailun Co., Ltd.
• CST Tires/AP Blue Whale, Inc.
• Nexen Distribution Philippines, Inc
• Michelin Philippines Pty, Ltd.
• Westlake Tires Philippines
  
  

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“The Philippines tire market is expected to generate new opportunities as the replacement ratio in the Philippines is high. The rise in the vehicle sales is increasing the demand of Philippines tire industry. Many tire manufacturers are investing in the Philippine tire market because of the trade-friendly nation, favorable government policies, and infrastructure development, as well as the availability of natural rubber in the country, which provides many opportunities for tire players. Thus, Philippines tire market will be prosperous in the upcoming years,."said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

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“Philippines Tire Market by Demand Category (OEM , Replacement), By Vehicle Type (Two wheeler , Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle & OTR), By Tire Construction Type  (Radial , Bias), By Price Segment (Ultra Budget, Budget and Premium), By Sales Channel (Online, Offline), By Region Competition Forecast & Opportunities, 2018- 2028F, has evaluated the future growth potential of Philippines 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 the Philippines Tire Market.

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Oilfield Thread Protectors Market | Oilfield Thread Protectors Analysis 2027

 

Global Oilfield Thread Protectors Market is driven by increasing demand for oil & gas in the forecast period, 2023-2027.

According to TechSci Research report, “Oilfield Thread Protectors Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027”, The global oilfield thread protectors market may show a robust growth in the forecast years, 2023-2027 with an anticipated CAGR value. The market growth can be attributed to the factors like increasing demand for the safety tool and equipment in the drilling machinery systems. Surge in the demand for the safer oil excavation is also a major driver for the growth of the global oilfield thread protectors market in the upcoming five years. Also, increasing demands for oil production due to excessive consumption of the oil and petroleum products in various end user industries like automotive industry, textile industry, chemical industry, etc. further supports the growth of the global oilfield thread protectors market in the next five years. With increasing investment, government support, and private financial aids to the oil & gas industry ensures advancement of the drilling rig equipment and tools. Increasing investment and technological advancement in the products and their development further substantiates the growth of the global oilfield thread protectors market in the future five years. Moreover, cost efficiency is a big challenge for the oil and gas industry. Cost of complete oil production process is high and market players often need heavy investment to sustain their procedures. Recent hikes in the oil prices confirm the increasing investment required for the processes along with the financial aid required for the equipment manufacturing and support, thereby aiding the growth of the global oilfield thread protectors market in the forecast period.

Also, rising concerns regarding oil spills and thus caused adverse effects also aid the growth of the global oilfield thread protectors market in the forecast years, until 2027. Oilfield thread protectors are responsible for the safety of the oil leaks and oil spills during the excavation of the oil from reserves and their transportation. Therefore, rising concerns among the excavators and environmentalists reflect on the market growth.

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The global oilfield thread protectors market segmentation is based on material type, type, design, location, protection component, regional distribution, and competitive landscape. Based on material type, the market is bifurcated into rubber, plastic, and metal. Plastic material is anticipated to hold the largest revenue shares of the market in the upcoming five years on the grounds of utilization of heavy duty plastic for the purpose of safety. Moreover, cost of the material along with the safety standards of the material is higher. Rubber material is also expected to register significant growth in the next five years on the grounds of its application in offshore rig pipes protection. Wear and tear of rubber casings decreases in the offshore excavation, and more preferred over metal thread protectors.

Segmentation based on location, analyzes the market growth between on shore and offshore location. Onshore locations are anticipated to hold the largest revenue shares of the market and dominate the segment in the upcoming five years on the account of increasing onshore oil excavation. Moreover, increasing concerns toward oil spills on the drill floors that may cause accidental slips and falls are further driving the growth of the subsegment and market.

Some of the market players, dominating the global market are : 

• Hunting Energy Services
• National Oilwell Varco
• M&P Flange & Pipe Protection Inc.
• Norkram Limited
• Tri-Star Protectors
• Caplugs
• Dongying Lake Petroleum Technology CO., Ltd.
• Venture Steels
• Thread Protectors, LLC
• Kannans Industrial Machinery Equipment LLC

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“North America region is anticipated to hold the largest market growth in the upcoming five years due to increased oil production and surging demand for the petroleum products in the countries like the United States, Mexico, and Canada. Increasing demand for the safety equipment looking at the alarming counts of oil spills and thus caused disasters to the marine life and human lives, is also anticipated to support the growth of the global oilfield thread protectors market in the next five years. Moreover, presence of difficult terrain in the region and surging demand for the higher production capacity of the existing reservoirs is also aiding market growth. Factors like government initiatives to support the industry and the equipment manufacturing segment further substantiates the growth of the global oilfield thread protectors market in the upcoming five years. Although various industries were affected due to regressed production and manufacturing of various equipment, the future growth for the market depends on further discoveries of oil reserves even in the fragile environments to sustain the growing demand for oil & gas. Thus, demand for safety equipment like oilfield thread protectors is bound to increase and sustain market growth,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Oilfield Thread Protectors Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027, Segmented By Material Type (Rubber, Plastic, Metal), By Type (Pin Protectors, Box Protectors), By Design (Open End, Closed End), By Location (Onshore, Offshore), By Protection Component (Drill Pipe, Drill Collar, Tool joint, Casing, Tubing, Others), By Region”, has evaluated the future growth potential of global oilfield thread protectors 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 oilfield thread protectors market.

 

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