Cold Chain Temperature Monitoring Market Worth $25.29 Billion By 2027

 

Cold Chain Temperature Monitoring Market Growth & Trends

The global cold chain temperature monitoring market size is anticipated to reach USD 25.29 billion by 2027, at a CAGR of 17.9% from 2020 to 2027, according to a new report by Grand View Research, Inc. The expansion of the pharmaceutical sector is expected to boost the demand for the product to monitor various drugs and vaccines. Continuous temperature monitoring of vaccines and medicines in the cold chain is necessary to ensure their integrity and quality. Exposure of medicines to high temperatures, whether in hospitals, care homes, or pharmacies, can change the molecular form of the active chemicals in them and directly affects their effectiveness and lifespan. Moreover, the stringent regulations regarding the storage and shipment of pharmaceutical products coupled with the continued investments from government agencies towards the healthcare industry are also expected to drive the market growth.

The COVID-19 outbreak across the globe has made cold chain temperature monitoring one of the essential aspects of the healthcare industry. Equipment, such as real-time data loggers, are used for tracking the temperature of coronavirus test samples in transit. Monitoring the temperatures of COVID-19 test samples is of utmost importance as the samples go through a long supply chain. The use of temperature monitoring solutions, in this case, ensures that the desired temperature is not breached throughout the transportation process, ensuring that the test samples are not damaged, and the test results are accurate. As such, the demand for reliable and advanced solutions has increased in 2020.

Changing food preferences in various parts of the world is driving the demand for processed food, frozen food items, and dairy products. The dairy products and perishable frozen food items require continuous temperature monitoring during transportation and storage to annul any possibilities of contamination and compromise with the quality. At this juncture, cold chain temperature monitoring solutions can help cold chain service providers in ensuring that the products are stored at ideal temperatures. Modern cold chain temperature monitoring solutions can deliver a myriad of benefits, such as real-time monitoring and wireless interaction with sensors. Advances in connected devices technologies, such as the Internet of Things (IoT) and Radio Frequency Identification (RFID), coupled with the cloud-based software, results in less human interference with the refrigerated goods, thereby retaining the product quality for an extended period. As such, the demand for wireless real-time temperature monitors, as well as cloud-based solutions is anticipated to increase over the forecast period.

North America dominated the market in 2019 and is estimated to continue dominating the global market over the forecast period leveraging its well-developed network of transportation and distribution systems, high technology adoption rate, and growing demand for processed food products. The U.S. is witnessing a changing dietary habit of people as they are emphasizing the intake of fresh and organic food such as fresh leafy vegetables, organic milk, and organic eggs. These food items require critical handling and monitoring at each level of storage and transit to avoid spoilage. As such, the need for temperature monitoring devices is increasing in the region. On the other hand, Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period owing to the rising population, rapid industrialization, rapidly expanding pharmaceutical sector, and the rise in demand for processed and canned food, particularly in emerging economies, such as India and China.

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Cold Chain Temperature Monitoring Market Report

Cold Chain Temperature Monitoring Market Report Highlights

• Amid the coronavirus pandemic, governments across the globe are emphasizing on making available an ample medicinal supply for the patients. As such, with the increased trade of medicines, the need for monitoring them in national and international transit will increase, thereby boosting the pharmaceutical segment
• The companies, including Pfizer Inc.; BioNTech SE; and Heat Biologics Inc. are focusing on the development of COVID-19 vaccine. The pharmaceutical segment is expected to expand at a rapid CAGR when the vaccine is successfully developed and deployed worldwide
• North America dominated the global market in 2019 with a revenue share of more than 35% and is expected to maintain its dominance from 2020 to 2027
• The hardware segment is anticipated to hold the largest market share, and the software segment is projected to register the highest CAGR over the forecast period
• The real-time monitoring devices segment is anticipated to exhibit the highest CAGR from 2020 to 2027 owing to the increasing emphasis towards real-time monitoring of shipments in transportation
• Emerging economies, such as India, Singapore, Thailand, and China, are expected to drive the growth of the Asia Pacific regional market owing to the significant expansion of transportation and warehousing networks followed by an increasing trade of temperature-sensitive pharmaceutical and food products

Distributed Antenna Systems Market To Reach $16.44 Billion By 2030

 

Distributed Antenna Systems Market Growth & Trends

The global distributed antenna systems market size is expected to reach USD 16.44 billion by 2030, registering a CAGR of 10.1% during the forecast period, according to a new report by Grand View Research, Inc. Key factors driving the demand for Distributed Antenna Systems (DAS) include proliferation of connected devices in Internet of Things (IoT), mobile data traffic, and demand for extended network coverage and constant connectivity. Additionally, an increase in higher-bandwidth applications and in-building demand is also supporting the market growth.

Increasing use of wireless data has been accompanied by the development of newer and faster mobile networks, such as 4G and 5G. These networks have become affordable due to their wide usage and availability of smartphones at affordable prices. Moreover, since the switching cost from one service provider to another is low, mobile network operators have to be extra cautious of the penetration and quality of their network. Increased emphasis on improving network performance has propelled service providers to opt for solutions such as DAS, to ensure round the clock availability of their network, thereby driving market growth.

However, the high cost of manufacturing along with the complex installation process of the system is expected to hamper the market growth. Cellular network providers are working on extending their network coverage and bandwidth to take into account the substantial costs involved in the development of a DAS system, which may be attributed to the high cost of consultation, planning and implementation along with the high product price itself.

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Distributed Antenna Systems Market Report

Distributed Antenna Systems Market Report Highlights

• In 2022, the hybrid DAS segment held the highest market share of 49.8%. This system is an ideal fit for medium-sized spaces or areas with weak signals. It is cost-effective, easily expandable, and provides increased efficiency and broader coverage
• The neutral-host ownership segment captured over 51.3% of the overall market share in 2022. This segment is projected to witness the highest growth on account of a large user base, third-party ownership, and a number of players providing a range of solutions
• In 2022, The public venues and safety segment dominated the market with a share of 26.5%, attributed to the high adoption of DAS solution in areas such as entertainment venues, sports stadiums, and shopping malls
• North America accounted for over 30.3% of the market share in 2022. Meanwhile, Asia Pacific is expected to expand at the highest CAGR owing to the increasing sales of handheld devices and smartphones in China and India coupled with rising infrastructural growth
• Key players in the DAS market include CommScope Inc.; Corning Inc.; Crown Castle International Corporation; and Boingo Wireless Inc., among others. These companies are engaging in collaborations with construction companies to sustain the competition.

Deep Packet Inspection Market Worth $4.71 Billion

 

Deep Packet Inspection Market Growth & Trends

The global deep packet inspection (DPI) market is expected to be valued at USD 4.71 billion by 2020, growing at a CAGR of 30.2% from 2014 to 2020. DPI is a surveillance technology that allows ISPs to keep real-time track of the content being generated over data packets. It helps in detecting malicious software, scrutinizing filters along with chats and website history. This technology is gaining popularity owing to its ability of efficient traffic management along with maximizing revenue opportunities.

Rising mobile device penetration, adoption of high speed broadband along with constant pressure for offering enhanced services on ISPs is projected to drive the DPI market demand over the next six years. This technology offers precaution against terrorism, ensures data security along with traffic prioritization. Further, it can be used for eavesdropping and data mining purposes amongst others.

Growing popularity of embedded and integrated DPI, usage of technology in traffic filtering for regulatory compliance, increasing need for monetizing and optimizing internet services and growing significance in network security are key factors which are anticipated to escalate DPI market growth by 2022.

The inspection technology allows ISPs to gather subscriber’s data, analyze the browsing habits along with gaining insight into subscriber’s inclination similar to OSS and BSS which is projected to positively impact deep packet inspection market growth.

Government sector requires enhanced security measures owing to the availability of confidential data by offering significant level of censorship surveillance and security. However, lack of awareness along with network neutrality and privacy concerns are projected to act as a challenge for the DPI market. In addition, consumer concern about the misuse of private data by third party entities can act as a restraint for industry growth.

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Deep Packet Inspection Market Report

Deep Packet Inspection Market Report Highlights

The market has been segmented on the basis of products into standalone and integrated. Integrated products can be used with access points in network whereas standalone products can be used directly. Prominent features such as video optimization, traffic steering and caching are leading to the increased usage of standalone products.

On the basis of application, the industry can be categorized into education, enterprises, ISP and government sector. ISPs offer augmented targeted advertising, policy definition, tiered services and lawful intercept and offer statistical information about the usage pattern beneficial for network planning.

Asia Pacific is expected to be the dominant region owing to the rising number of subscribers in this region. Favorable government regulations, rise in mobile computing are driving growth in this region.

Key players in the industry include Cisco System, Sandvine Inc, Bivio Networks Inc, AT&T Inc., Verizon Communication Inc, Rackspace Inc., Qosmos, Arbor Networks Inc., Allot Communication Ltd and Huawei. Industry vendors are adopting new product launches and acquisitions as the key to excel in the market. High bandwidth requirements along with emergence of data intensive applications have propelled network operators in offering enhanced solutions and services to the customers. Growing mobility is anticipated to offer avenues towards profitability of DPI industry participants.

Bare Metal Cloud Market Worth $26.21 Billion By 2025 | CAGR: 38.4%

 

Bare Metal Cloud Market Growth & Trends

The global bare metal cloud market size is anticipated to reach USD 26.21 billion by 2025, expanding at a CAGR of 38.4%, according to a new report by Grand View Research, Inc. Factors such as increased demand for secure storage facilities and rapid developments in the cloud industry have encouraged enterprises to switch to the bare metal cloud from conventional cloud services.

Bare metal cloud solutions are gaining momentum and witnessing a high demand from enterprises across different industry verticals. These solutions offer manifold benefits such as efficient data storage, streamlined data center operations, and faster service delivery through various solutions such as bare metal compute and storage network. Presently, the rapid uptake of the internet and networking has increased the demand for more storage space, advanced networking solutions, and high computing power in cloud services.

The hardware segment dominated the market in 2016. The increased use of computing, network, and storage facilities to virtualize data centers is driving the hardware market. Moreover, the accelerated use of internet-based technologies and electronic devices is expected to further propel the market growth.

The maintenance service segment is anticipated to witness substantial growth owing to the need for regular maintenance post-installation. The demand for these services is expected to increase over the forecast period. The increasing advancements in cloud services are encouraging providers to introduce new updates in minimal time with better quality. This is further creating an opportunity for market growth.

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Bare Metal Cloud Market Report

Bare Metal Cloud Market Report Highlights

• The demand for the bare metal cloud has increased over the years, owing to the increasing significance of data security and the rising adoption of advanced cloud services along with advanced authentication support.
• The U.S. government is investing a considerable amount of monetary and non-monetary resources to encourage the adoption of cloud services across various sectors and carry out initiatives such as smart cities.
• The increasing use of cloud and internet-based technology in Canada has triggered the adoption of bare metal cloud services in businesses of all sizes.
• Factors such as high demand for cloud-based services and automated storage adoption by small- and mid-sized companies are expected to be the key trends influencing the bare metal cloud market growth.
• Key players in the market include IBM Corporation, Oracle Corporation, and Rackspace Inc., among others.

Virtual Sensors Market Size Worth $1.4 Billion By 2025 | CAGR: 27.2%

 The global virtual sensors market size is expected to reach USD 1.4 billion by 2025, expanding at a CAGR of 27.2%, according to a new report by Grand View Research, Inc. Growing use of virtual sensors in the human activity recognition and in the healthcare domain is driving the market. Implementation of cloud platforms integrated with IoT applications is driving the market growth.

A virtual sensor is expected to achieve multiple objectives built for a specific purpose and result in a meta-analysis about its environment. These circuits can range from very simple to very complex design and undergo changes to produce a desired output. The device is an intangible form of sensor which is activated via two kinds of input, one from user and other from physical sensor. However, virtual sensors, in terms of capabilities are much beyond physical devices that can work individually and collectively irrespective of their physical counterparts.

Trends such as new product launches and agreements are likely to be witnessed in the market. In order to enhance industrial facilities, GE offers virtual sensors to reliantly work on predix, which is a cloud-based platform mainly used in the industrial space. Moreover, Siemens AG is working on digital twin technology for the development of virtual sensing solution for its customers. Siemens AG has developed Simcenter solution that is combining the system simulation and 3D CAE for predicting the performance parameters earlier and throughout the product lifecycle.

The solutions segment is expected to witness largest virtual sensors market share over the forecast period. This is attributed to advent of industry 4.0 and rising demand for cloud-based solutions in the manufacturing facilities. Such solutions are anticipated to promote the robot guidance operations by sensing and reducing accidents.

The market in Asia Pacific offers lucrative growth opportunities in terms of technology output, competitive advantage, and relevancy. In addition, the market witnesses a high influx of investments by stakeholders in various verticals pertaining to product development. Compliance policies and government regulations are pivotal in creating a sustainable market development. North America is expected to hold largest market share over the forecast period. This is attributed to rising demand for IoT cloud models and continuous innovations in the field of VR. In addition, growing adoption of advanced technologies among the companies in the region is driving the market growth.

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Further key findings from the report suggest:

• The service segment is anticipated to witness higher growth owing to growing training and consulting activities for imparting significant knowledge and advantages of virtual sensors
• The cloud deployment segment is expected to witness a steady market growth, which can be attributed to the rise in use of IoT approach
• The aerospace and defense segment is accelerating the product demand for enhancing the passenger’s safety and safer flight operations
• The key players in the virtual sensors market are Siemens AG, General Electric Company; Aspen Technologies, Inc.; Elliptic Laboratories A/S; and Tactile Mobility.

Cold And Flu Supplements Market To Reach $36.61 Billion By 2030

 

Cold And Flu Supplements Market Growth & Trends

The global cold and flu supplements market size is expected to reach USD 36.61 billion in 2030, growing at a CAGR of 11.5% from 2023 to 2030, according to a new report by Grand View Research, Inc.The increasing awareness about health and well-being has encouraged consumers to take a proactive approach toward managing their health, including preventing and treating cold and flu symptoms. People are no longer satisfied with simply treating the symptoms; instead, they are taking a more preventive approach by boosting their immune system to reduce the risk of developing flu & cold. Consumers now recognize the crucial role of a strong immune system in combating illnesses like colds and flu.

They are actively seeking ways to enhance their immune function and are turning to supplements that claim to provide immune support. These supplements often contain various vitamins, minerals, antioxidants, and herbal ingredients believed to boost immune function and promote overall wellness. Natural molecule-based supplements are often perceived as safer than pharmaceutical drugs, as they are derived from natural sources and are generally considered to have a lower risk of adverse effects. This perception of safety resonates with consumers who prefer a gentler and more natural approach to managing cold & flu symptoms. Furthermore, natural molecule-based supplements are increasingly available in various distribution channels, including pharmacies, hypermarkets & supermarkets, health food stores, online platforms, and specialty retailers.

Their visibility and accessibility are expected to drive their demand and consumption during the forecast period. Collaborations aimed at the distribution of nutritional and mineral supplements are likely to support market growth. For instance, in October 2022, Animine, a France-based company known for its production and distribution of precision minerals, partnered with Grupo ISA for the exclusive distribution of its products and solutions in Mexico. This collaboration is expected to strengthen Grupo ISA’s portfolio of nutritional solutions and enable the company to offer a wider range of innovative products to the North American market.

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Cold And Flu Market Report

Cold And Flu Supplements Market Report Highlights

• The vitamins & minerals segment accounted for the largest share of 40.1% in 2022. These essential nutrients play a vital role in supporting immune function and overall well-being. Thus, they are commonly incorporated into cold and flu supplements to enhance immunity and aid in recovery
• The pharmacies & drug stores segment accounted for the largest share of 48.5% in 2022. The primary reason behind the increased sales through this distribution channel is the presence of knowledgeable pharmacists who can offer expert guidance and advice to consumers seeking cold & flu supplements. This expertise instills consumer trust and contributes to higher sales figures
• North America accounted for the largest share of over 36.4% of the global market in 2022. This can be attributed to the rising health consciousness among consumers in the region leading to a heightened interest in maintaining a healthy diet and lifestyle
• The region’s focus on wellness and preventive healthcare also drives the demand for cold & flu supplements

Coin-operated Laundries Market To Reach $35.84 Billion By 2030

 

Coin-operated Laundries Market Growth & Trends

The global coin-operated laundries market size is anticipated to reach USD 35.84 billion by 2030, growing at a CAGR of 9.3% from 2023 to 2030, according to a new report by Grand View Research, Inc. The increasing economic stability of middle-class consumers in emerging markets is driving the demand for clothes, which has spurred demand for coin-operated laundries.

Additionally, increasing population and rising tourism activities are the key factors driving demand for coin-operated laundries in the hospitality sector. The increasing number of hotels, hospitals, restaurants, and other commercial setups has led to a rise in the demand for coin-operated laundries, which, in turn, is anticipated to boost the market in the commercial sector.

Clean laundry is essential for a healthy and hygienic lifestyle. Washing dirty daily use clothes and other laundry items require an adequate amount of clean water, detergents, and soaps, washing appliances, as well as a proper washing area. Instead of spending on expensive appliances and other related products, millennials and working-class populations are adopting the laundry machines, which offer convenience and flexibility and save time.

These advanced laundry machines are available round the clock, making laundry more convenient and easier for the young and working population. Consumers’ priority in laundry care is changing in developed as well as developing countries. Laundry care is necessary, however, it is time-consuming, owing to which consumers in the urban areas are shifting toward convenient and hygienic laundry services.

Hectic working schedules and time constrain for daily house chores are the key factors fueling demand for the laundry machines among working professionals. Moreover, an increasing number of working-class women in developing countries, such as India and China, is expected to contribute to market growth.

Increasing awareness about the importance of daily laundry care and personal hygiene is expected to favor market growth in the coming years. Moreover, an increase in the penetration of broadband internet smartphones has led to a significant increase in the popularity of coin-operated services, including laundry care. Additionally, the growth of tourism and hotel industries in the region is expected to boost the demand for the market over the forecast period.

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Coin-operated Laundries Market Report

Coin-operated Laundries Market Report Highlights

• The residential segment dominated the market with the largest revenue share of 80.1% in 2022 and is further expected to register the fastest CAGR of 9.5% over the forecast period.
• The commercial segment is expected to grow significantly over the forecast period. An increase in the number of hotels and hospitals is expected to provide growth opportunities to the commercial segment in the coming years.
• North America accounted for the largest market share of 45.1% in 2022. This is attributable to the region’s growing population of health-conscious consumers, which has significantly increased the utilization of laundry services.

Patient Handling Equipment Market Worth $23.4 Billion By 2024

 The patient handling equipment market is expected to reach USD 23.4 billion by 2024, according to a new report by Grand View Research, Inc. The upsurge in the demand for products, such as slings, lifts, powered electric wheelchairs, due to the high risk of physical injuries in the manual lifting of heavy loads is a key growth driver of the patient handling equipment market. In addition, the growing prevalence of injuries, such as lower back pain, musculoskeletal disorders (MSDs), etc., is expected to boost growth in this sector. These injuries are avoidable by practicing safe patient handling guidelines and using equipment for the same.

Associated advantages and availability of improved products such as prime Transport Chairs (TC), temperature management systems, and patient transfer solutions, which offer safe, comfortable, and dignified transfer are the factors anticipated to provide lucrative growth to this sector in the near future.

Increasing incidences of Non-communicable Diseases (NCD), such as diabetes, asthma, cancer, stroke, etc., requiring patient handling equipment in homecare settings, hospitals, and intensive care units are further expected to boost market growth over the forecast period.

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Further key findings from the study suggest:

• The mechanical and nonmechanical equipment segment is expected to grow at a lucrative CAGR of above 12.0% owing to high penetration of hospital furniture, stretchers, evacuation equipment, ambulatory aids, and accessories in healthcare settings

• On the other hand, medical beds held a lucrative share in this industry in 2015, due to the high adoption rate by hospitals and long-term acute care centers. Moreover, the introduction of technologically enhanced products and comfort offered by them are the factors attributing to its dominant share

• The critical care segment is anticipated to grow lucratively during the forecast period, due to rising treatment rates and adoption of equipment to curb increasing prevalence of critical conditions and reduction in mishaps that occur during patient handling. Moreover, the critical care nursing and intensive care units requiring stable and safe handling practices for cardiothoracic, coronary, trauma, and surgical units supporting patients’ health are expected to widen the consumer base for these devices

• Home care setting is anticipated to grow lucratively as a consequence of increasing patient preference to reduce hospital stay and cost for the treatment. In addition, the increasing preference of home care facilities by elderly patients’ is expected to intensify the demand for patient handling equipment over the forecast period. Moreover, increasing applications of long-term care programs, home health agency, and homecare services are expected to propel the market growth during the forecast period

• Some key players in this market include Stryker Corporation; Hill-Rom Holdings, Inc.; Invacare Corporation; Getinge Group; Guldmann, Inc.; Stiegelmeyer, Inc.; Benmor Medical Ltd.: Sidhil Ltd.; ArjoHuntleigh, Inc.; Etac Ltd.; Joerns Healthcare; Handicare, Inc.; Mangar International Ltd.; Linet Americas, Inc; and Prism Medical Ltd.

• These players are adopting strategies such as technological innovation, new product launch, and strategic collaborations, including mergers and acquisitions to capitalize on their industry share. For instance, in March 2016, Prism Medical Ltd. acquired lifts and elevating business of Shoppers Home Health Care in a probe to expand its business capabilities and strengthen its services portfolio. Similarly, in November 2014, Stiegelmeyer, Inc. introduced new technology “e-help,” an intelligent sensor technology for homecare and in-patient services enabling deeper market penetration.

Coiled Tubing Manufacturing Market Size Worth $1.5 Billion By 2027

 

Coiled Tubing Manufacturing Market Growth & Trends

The global coiled tubing manufacturing market size is estimated to reach USD 1.5 billion by 2027 registering a CAGR of 2.9%, according to a new report by Grand View Research, Inc. Increasing popularity of shale reserves in the production of crude oil is projected to augment market growth over the forecast period. The global oil & gas industry remains volatile with high fluctuations in crude oil prices. Reduced crude oil prices coupled with depressed upstream investments in the current scenario are projected to impact the profitability of the market vendors.

This associated sluggishness can be attributed to the falling oil demand from key importers, such as India and China. The global crude prices have fallen almost 66% from their highs in January 2020. This has affected the level of activities in the upstream and midstream sectors of the industry. However, the expansion of the downstream and midstream activities estimated in the forecast period is projected to drive the market.

On the upstream side, low oil prices have had negative implications for oil-exporting countries. Key countries, such as the U.S., Saudi Arabia, and Russia, have already announced plans to reduce production in the wake of reducing crude oil prices. The market uncertainty has led to several cost-cutting measures and shutting down of projects. All these factors are projected to hinder the market growth over the forecast period.

The market participants are under severe distress as the downstream demand for the product is in a free fall. The depressed economic activities in the upstream side of the oil & gas industry are projected to cause severe damage to the revenues of oil & gas operators. This, in turn, is already influencing the procurement processes of many multinational oil & gas companies.

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Coiled Tubing Manufacturing Market Report

Coiled Tubing Manufacturing Market Report Highlights

• Well intervention is projected to witness the fastest CAGR of 2.3%, in terms of volume, from 2020 to 2027
• Higher usage of Coiled Tubing (CT) in stimulation and well cleaning operations across the European region is likely to aid the growth of the well intervention segment
• Drilling is projected to remain the dominant service segment over the forecast period, in terms of volume as well as revenue
• The usage of coiled tubing in the onshore applications is estimated to observe the fastest growth rate. The onshore application segment is also anticipated to capture the largest revenue share by 2027
• The offshore application segment is projected to observe a slower growth in the coming years as offshore CT is expensive owing to the detailed specifications and unique properties required on site
• Led by the U.S., North America is projected to be the dominant regional market over the forecast period

Nanocomposites Market Size Worth $7.48 Billion By 2022 | CAGR: 6.4%

 The global nanocomposites market size is expected to reach USD 7.48 billion by 2022, expanding at a CAGR of 6.4%, according to a new report by Grand View Research, Inc. Growing demand for nanocomposites in the automobile industry increased the application of nanocomposites in building and construction, high volume consumption in electronics and semiconductors are some of the major factors that have been driving the market. However, the high cost of materials and technology to manufacture them along with the environmental impact of certain materials used in nanocomposites manufacturing are holding back the market.

Nanocomposites usually comprise of a strengthening layer/layers of various materials such as clay, plastics, glass, carbon nanotubes, graphene, and others. The binder material used is usually a polymeric resin (eg: epoxy) and this binding matrix holds the materials together to impart strength and higher toughness once the composite system has cured.

The nanocomposites market uses materials such as metals and metallic nanoparticles, polymers, nano-sized clay particles, carbon derivatives such as carbon nanotubes and graphene, and other nanoparticles. These materials can be sourced from raw material manufacturers in all the regions globally. Major raw material manufacturers have their manufacturing bases in Europe and North America and usually distribute their materials through local suppliers in various regions around the world.

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Further key findings from the report suggest:

• Metal/Metal oxides demand was 17.6 kilo tons in 2014. Metal/metal oxides are extensively used in manufacturing electronic parts and semiconductors. Metal oxides exhibit superior electrical conductivity and are being used in the preparation of pseudo capacitive electrochemical supercapacitors. Metal oxides include the use of manganese, titanium, tantalum, and vanadium oxides in the manufacturing of electronic parts owing to high durability and its ability to withstand high temperature.
• Ceramics accounted for 13.0% of the global market volume in 2014. Ceramic nanocomposites exhibit improved hardness, strength, durability, and as compared to their counterparts. Ceramic nanocomposites provide superior thermal resistance and are used extensively in aerospace applications. Furthermore, it is used in a variety of applications due to its characteristics including flame retardancy, high shock resistance, and improved magnetic and optical properties.
• Aviation is expected to witness significant growth, growing at a CAGR of 24.2% from 2015 to 2022. Nanocomposites are used in the aviation industry in manufacturing flame retardant panels and high-performance components. In addition, it provides structural strength to the existing panels, which is expected to have a positive impact on market growth. Furthermore, nanocomposites easily blend with plastic and metal and provide added strength to panels.
• Europe demand for nanocomposites was 68.2 kilo tons, growing at a CAGR of 23.3% from 2015 to 2022. Europe is characterized by the growing demand for nanocomposites in automotive and aviation a-applications. Growing demand for these products owing to their lightweight and superior durability is expected to increase demand over the forecast period. Furthermore, these products are being increasingly used in the manufacturing of wind turbines and solar panels. In terms of product, nanoclay is expected to witness the fastest growth as compared to its counterparts.
• Key players in the nanocomposites market include Arkema SA, BASF SE, Cabot Corporation, Cyclics Corporation, DSM, Elementis Specialties Inc., eSPin Technologies Inc., DuPont, Foster Corporation, Powdermet Inc., Inframat Corporation, Zyvex Technologies.

Metal Foam Market Size Worth $117.7 Million By 2025 | CAGR: 4.1%

 The global metal foam market is expected to reach USD 117.7 million in 2025, growing at a CAGR of 4.1%, according to a new report by Grand View Research, Inc. Metal foams have seen a vast spectrum of development in the recent years, with further intensified research being carried out on this multifunctional material class. Despite the various value-additions catered by metal foams, there still exists an imbalance between the properties offered and the substantial utilization. A major factor influencing this is the high cost of metal foams.

Increasing environmental concerns and stringent automotive pollution control norms have forced automotive manufacturers to monitor the pollution. Vehicular curb weight is one of the most important factors affecting the fuel efficiency. Usage of lightweight porous metallic materials in a body frame not only results in the reduction in some parts being used but also in the curb weight, thus drastically increasing fuel efficiency and reducing vehicular pollution.

The major foundry owners are working to pave a path out by overcoming issues related to economies of scale, high capital costs, labor law issues and government regulations related to procurement of aluminum. Usage of aluminum is likely to be taken over by steel and composite wood, mainly for the construction applications. Similarly, a wide range of opportunities pursued by pro-active metal casters who face the substitution threats, have considered converting weldments to castings.

Typical functional applications of metal foams include sound absorption, fragmentation capture, impact absorption, heat sinks and exchangers, the matrix for chemical bed and scrubbers, filters and mist elimination of water and oils, core structure for high strength panels, battery plates and spacers, automotive and aeronautical light-weighting, and catalyst surfaces.

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www.grandviewresearch.com/industry-analysis/metal-foam-market

Further key Findings from the Study Suggest:

• The global metal foam demand was 1.60 kilo tons in 2016 and is expected to reach 2.24 tons by 2025, growing at an estimated CAGR of 3.8% from 2017 to 2025
• Europe metal foam market is estimated to be valued at USD 19.1 million in 2016 and is expected to be the fastest growing market over the forecast period
• In terms of revenue, Aluminium accounted for 35.6% of the global market and is also expected to witness fastest growth over the next nine years
• As of 2016, Germany accounts for around 35% of the European metal foam demand and is also expected to retain its dominance over the forecast period as well

Functional Protein Market Worth $7.45 Billion By 2025 | CAGR: 7.5%

 The global functional protein market size is expected to reach USD 7.45 billion by 2025, growing at a CAGR of 7.5%, according to a new report by Grand View Research, Inc. Rising importance of protein-fortified convenience foods as a result of extensive advertising campaigns by nutraceutical suppliers in e-commerce portals and electronics media is expected to have a substantial impact. Furthermore, the increasing market penetration of powdered drink mixes as a result of product innovation by companies including General Foods Corporation is expected to play a crucial role in promoting the functional proteins consumption in the near future.

Whey protein isolates (WPI) accounted for 26.1% of global industry share in 2016. The segment is expected to witness significant gains owing to the introduction of the product forms in vanilla and chocolate flavors on a global level. Furthermore, increasing awareness towards enhancing muscular strength among athletes as well as gym professionals in emerging markets including Mexico, South Africa, China, and India is expected to broaden the application scope of WPI as sports nutrition goods over the next eight years.

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www.grandviewresearch.com/industry-analysis/functional-protein-market

Further key findings from the report suggest:

• Global functional proteins demand was stood at 823.9 kilo tons in the year, 2016 and is projected to foresee growth at a CAGR of 6.4% from 2017 to 2025.
• Functional beverages are projected to foresee fastest volume growth at a CAGR of 7.0% from 2017 to 2025. Rising importance of protein shakes for weight management amongst working class professionals as a result of endorsement by fitness experts to use functional beverage is expected to expand the industry size.
• Dry forms are projected to foresee revenue growth at a CAGR of 7.2% from 2017 to 2025. Rising R&D spending towards the processing of spray-dried serum (SDS), spray-dried plasma (SDP) and globulin concentrate which are processed to use as colostrum supplements or replacers for feeding calves is expected to open the new avenues.
• Asia Pacific is projected to witness high revenue growth at a CAGR of 8.2% from 2017 to 2025. Significant gains in functional food & beverage production in China, India, and Malaysia as a result of favorable government policies including the reduction in import duties of consumables or equipment, to promote the foreign investments is expected to play a fundamental role in increase the fortification of functional nutrition ingredients.
• Major manufacturers include Kerry Group, Fonterra, Arla Foods AMBA, Glanbia, Saputo Ingredients APC Inc., and Friesland Campina. The introduction of new products and the formation of strategic alliances with buyers in nutraceuticals and animal feed sectors are projected to remain critical success factors over the next eight years.

Connected Ships Market Worth $9.1 Billion By 2027 | CAGR: 5.4%

 The global connected ship market size is expected to reach USD 9.1 billion by 2027, registering a CAGR of 5.4% during the forecast period, according to a new report by Grand View Research, Inc. The market is expected to witness significant growth owing to the increasing penetration of internet across the shipping and logistics industry across the globe.

The market is largely influenced by the rapid rise in cross border shipping, which in turn has generated a high demand for connected ships. Emphasis of major economies towards globalization to strengthen free trade agreements like NAFTA (North American Free Trade Agreement), TPSEP (Trans-Pacific Strategic Economic Partnership), Southeast Asian Nations Free Trade Area (AFTA) will drive the market.

The growth and progress in trading and logistics is expected to drive the market. Also, the factors such as shale gas evolution, rising export and import of chemicals, recovering petrochemical industry are positively influencing market growth. Also, container transportation is increasingly adopted globally to transport goods. It acts as a major driver for the cargo shipping market in the both — developed and developing countries.

The volume of international seaborne trade in 2016 was recorded at 10289.0 Mn tons and increased to 10702.0 Mn tons in the year 2017. This year on year rise in seaborne trade is also expected to significantly impact the market of connected ships in the upcoming years. The rising sea borne transport has compelled the manufacturers to invest in research and development on technology enhancement such as connected vessel technology, while enabling the exchange of information through a single network to make it more secure and safe. The adoption of connected ship solution allows stack owners to obtain real time position of shipment, operation control of the ship, and vessel traffic management. The applications of industrial IoT are using an enormous amount of available data, cloud services, as well as business analytics and enterprise mobility capabilities to analyze and optimize the shipping operations.

Government initiatives especially in emerging economies such as China and India, are focused towards digitalization of the vessel to achieve tracking as well for security purposes. Also, growing chemical industry in these countries is expected to positively impact market growth. Also, to attract more business the governments have been observed to be restructuring trade policies and infrastructure which is anticipated to boost the market over the forecast period.

Europe captured a significant share in the market owing to presence of key manufacturers in the region. U.K., Germany, and France are among the top five countries with the highest volume of parcel shipments in the region. However, Asia Pacific is expected to witness highest CAGR over the forecast period, owing to remarkable growth in the e-commerce sector and increasing internet penetration.

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Further key findings from the report suggest:

• The market is anticipated to witness a substantial growth registering a CAGR of 5.4%, on account of the growing emphasis towards marine tourism
• Sports connected Type segment is anticipated to witness high CAGR over the forecast period ascribing to its increasing adoption in both personal as well as sports applications.
• 20ft to 50ft length connected ships in the connected ships length segment is expected to witness higher growth than other segments owing to its low operational, maintenance and fuel consumption.
• Asia Pacific is anticipated to witness high CAGR in the connected ships market over the forecast period owing to government initiatives to boost marine tourism coupled with the rising disposable income of middle-class population in the region.
• The market is oligopolistic in nature, dominated by key players in the market namely General Electric Company; Nikon Corporation; Olympus Corporation; Mistras Group, Inc.

Automotive Robotics Market Worth $13.6 Billion By 2025 | CAGR: 13.8%

 

Automotive Robotics Market Growth & Trends

The global automotive robotics market size is expected to reach USD 13.6 billion by 2025, at a CAGR of 13.8% according to a new report by Grand View Research, Inc. The increasing adaptation of automation and robotics within the automotive industry is a major factor expected to drive market growth.

Industrial revolutions and initiatives taken by the government regarding the automation of manufacturing sectors boost the sales of automotive robots. The governments are providing tax exemptions for R&D and providing tax cuts which will reduce the cost of manufacturing and improve the manufacturing opportunities in the countries rather than going for offshore manufacturing.

Articulated robots are expected to grow over the forecast period due to their flexibility and various operations that can be performed by the six axes robots. It can be used for various applications such as welding, material handling, dispensing and material removal applications and the robot has a large work envelope. Articulated robots are growing at a CAGR of 14.4% over the forecast period.

The welding application segment holds the largest share of the automotive robotics market in 2016 and is expected to reach over USD 5.0 billion by 2025. Robots are being employed in different aspects of the production line due to their large work envelope. Automotive manufacturers widely used robots for spot welding in vehicles.

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Automotive Robotics Market Report

Automotive Robotics Market Report Highlights

• The global automotive robotics market accounted for USD 4.34 billion in 2016 and is expected to grow at a CAGR of 13.9% from 2017 to 2025
• Articulated robot emerged as the largest segment in 2016 and is estimated to generate revenue of over USD 8.50 billion by 2025
• The welding market for automotive robotics is estimated to reach over USD 5.0 billion by 2025
• The Asia Pacific market is projected to witness substantial growth over the next decade owing to the growing adoption of automation in the manufacturing sector. The regional market is expected to grow at a CAGR of 14.9% from 2017 to 2025.
• Small and medium-sized enterprises in Europe are also adopting automation due to the initiatives taken by the European Union to produce affordable, easy to install, and modular robots. This initiative is anticipated to act useful to the SMEs in their manufacturing process and reduce the production time and labor costs. Several manufactures such as ABB and Kuka AG have launched robotic arms and collaborative robots for SMEs.
• Key players include ABB Robotics, Fanuc Corporation, Denso Corporation, Kawasaki Heavy Industries, Ltd. and others dominated the market, accounting for a majority share of the overall market in 2016

Air Traffic Control Equipment Market To Reach $15.88 Billion By 2030

 

Air Traffic Control Equipment Market Growth & Trends

The global air traffic control equipment market size is expected to reach USD 15.88 billion by 2030, registering a CAGR of 8.3% during the forecast period, according to a new report by Grand View Research, Inc. Need for construction of new airports, and expansion & modernization of the existing ones to address increasing passenger & freight traffic is expected to increase air traffic control equipment demand. Advancements in microelectronics have provided ample growth opportunities for the air traffic control equipment market and further innovations in the domain are expected to buoy market growth over the forecast period.

Owing to continuous need for monitoring air traffic, interruption in the activity is not feasible which makes replacement of obsolete ATC equipment a cumbersome task. In order to maintain the flow of traffic monitoring, new equipment is operated in parallel with the existing one before the latter is phased out completely, which poses a challenge to air traffic control equipment market growth.

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Air Traffic Control Equipment Market Report

Air Traffic Control Equipment Market Report Highlights

• The communications air traffic control equipment market accounted for a high revenue share in 2022 and the trend is expected to continue throughout the forecast period owing to increased need for replacement of obsolete equipment with new ones equipped with enhanced digital data communication.
• Europe and North America were the major air traffic control equipment regional markets in 2022, which can be attributed to increased government efforts pertaining to securing air traffic and aircraft. Asia Pacific is expected to witness high growth due to increased initiatives for efficient infrastructure.
• Leading players in the air traffic control equipment market have emphasized heavily on the enhancing equipment reliability to address minimum tolerance levels. Incorporation of effective collision avoidance system in ATC equipment is expected to be a key focus area for countering increased air traffic. Manufacturers and developers upgrade landing and navigation aids periodically to maintain safety and improve efficiency.

Ultra-Thin Glass Market Worth $27.74 Billion By 2025 | CAGR 10.1%

 

Ultra-Thin Glass Market Growth & Trends

The global ultra-thin glass market size is anticipated to reach USD 27.74 billion by 2025, expanding at a CAGR 10.1% over the forecast period, according to a new report by Grand View Research, Inc. The demand for ultra-thin glass is increasing in semiconductors on account of superior characteristics such as light weight and optimum performance as compared to its counterparts.

In April 2019, Samsung Electronics announced investment of around USD 114.8 billion by 2030 in logic chips business. The ongoing investments in the semiconductor industry is likely to augment the product demand over the coming years.

Ultra-thin glass is gaining acknowledgement in solar industry for manufacturing of solar panels. Leoflex, an ultra-thin glass produced by AGC Inc. of thickness ranging from 0.85mm and 1.10mm is extensively used for solar panels. According to the International Renewable Energy Agency, the solar photovoltaic capacity installations increased by 24.4% from 2017 to 2018 and is expected to grow by 50% from 2019 to 2024. The rising capacity installations is likely to propel the demand for solar panels, which can positively impact on the demand for ultra-thin glass.

Asia Pacific was the largest segment for the market in 2018 on account of increasing government initiatives to propel the manufacturing sector in India and China. For instance, the USD 15.2 billion investment for production expansion announced by BOE Technology Group, a major display manufacturer in China, in March 2018 is expected to be majorly backed by the local government.

The market is highly consolidated and competitive in nature due to presence of multinational corporations. Also, manufacturing processes including down-draw and overflow are both technology and capital-intensive. These factors are anticipated to create barriers for new entrants over the forecast period.

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Ultra-Thin Glass Market Report

Ultra-Thin Glass Market Report Highlights

• Semiconductor segment is anticipated to register a CAGR of 10.3% in terms of volume, owing to increasing growth prospects in emerging technologies like autonomous driving and internet of things over the coming years.
• Asia Pacific is the fastest growing segment with a CAGR of 11.1% in terms of revenue due to presence of more than half of the global semiconductor and flat panel display fabrication plants in the region.
• North America is anticipated to witness a CAGR of 8.2%, in terms of volume, owing to increasing preference towards thinner automotive glazing in the region. In 2016, Saint-Gobain & Corning announced establishing a joint venture, which will manufacture automotive glazing solutions using ultra-thin glass.
• In June 2019, Pulp Studio, a glass manufacturer launched a new product named DermaGlass, a lightweight and durable ultra-thin glass with a thickness of 1.3mm. It is damage resistant and is used in exteriors, facades, and interior applications

Power Plant Boiler Market Worth $28.0 Billion By 2025 | CAGR 3.9%

 The global power plant boiler market is expected to reach USD 28.0 billion by 2025, according to a new report by Grand View Research, Inc. Rising demand for electricity is expected to propel the sector growth. The global population is increasing at a robust pace and likely to reach 2.2 billion by 2050. Moreover, the increase in population has led to rapid urbanization, especially in the developing countries. As per the United Nations World Urbanization Prospects, it is estimated that the urban population, which was 30% of the global population in 1950, is projected to reach 66% by 2050.

The growing urbanization has led to a rise in power consumption. To cope up with the rising power demand, governments across the world are on the lookout for various alternatives to boost power generation capacity. For instance, the government of India is offering power generation subsidiaries to operators to generate power through biogas. The government offers nearly USD 30 thousand per MW. The subsidy is valid only for the boiler manufacturers and steam turbine producers. Such initiatives are likely to produce modest demand for boilers over the forecast period.

Netherlands-based BDR Thermea acquired ECR International in 2016 to expand the company’s existing product portfolio in the North America market via the latter’s distribution network. Key vendors analyzedin the report are Babcock & Wilcox Enterprises; Dongfang Electric Corporation (DEC); Siemens AG; Mitsubishi Heavy Industries, Ltd.; and General Electric (GE). Mergers and acquisitions continue to form an integral part of the market growth.

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Further key findings from the report suggest:

• The global demand for power plant boiler market was USD 19.8 billion in 2016 and likely to reach USD 28.0 billion by 2025, at a predicted CAGR of 3.9% from 2017 to 2025
• Subcritical technology was the largest segment in the market, accounting for over 73% of the total revenue in 2016
• Pulverized fuel combustion was the largest process segment, in terms of revenue, in 2016. The segment is likely to be valued at USD 15 billion by 2025, indicating a CAGR of 3.9%.
• In terms of revenue, APAC is expected to be the largest regional market at a projected CAGR of 4.7% over the forecast period
• The industry is dominated by a few multinational corporations such Babcock & Wilcox Enterprises; Dongfang Electric Corporation (DEC); Siemens AG; Mitsubishi Heavy Industries Ltd., and General Electric (GE)

Underwater Concrete Market Size Worth $229.80 Billion By 2025

 The global underwater concrete market size is expected to reach USD 229.80 billion by 2025, according to a new report by Grand View Research, Inc. Growing adoption of underwater concrete on account of improved technological efficiency pertaining to the concrete placing is expected to propel growth. The demand for the product is expected to grow on account of the growth in the underwater repairs of the existing underwater structures. In addition, the development of advanced admixtures such as superplasticizers and anti-washout admixtures is expected to translate drive the demand over the next nine years.

The industry exhibits a number of technological advancements pertaining to the chemicals used for improving and adjusting the workability, adhesive strength, and setting time of the cement used in the underwater concrete. In addition, the demand for chemicals such as carboxylates and cellulose is expected to lead to an increase in the strength of the concrete, leading to industry growth.

Rising demand for luxury amenities in the developed economies is expected to result in an increase in the construction of swimming pools, which is expected to fuel growth. The decline in the global price levels of Portland cement is expected to result in a reduction in the price of the product, leading to market growth. The industry is characterized by the presence of a dedicated supply chain network among the raw material suppliers, manufacturers, and construction companies. In addition, the industry exhibits integration with a majority of manufacturers involved in the production of raw materials.

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Further key findings from the report suggest

• Hydropower energy harnessing constructions accounted for over 29% of the global consumption volume on account of high hydropower capacity expansion primarily in Asia Pacific and North America
• The use of admixtures in the product accounted for over 11% of the market revenue on account of technological developments leading to the production of advanced admixtures with superior strength, workability, and anti-runoff properties
• The underwater concrete market in China is expected to register a CAGR of over 9% by revenue, from 2016 to 2025 on account of significant marine infrastructure developments coupled with the growing adoption of hydropower as an alternate energy source
• Key companies operating in the industry include CEMEX, Conmix, Heidelberg among others. The companies in the industry are involved in mergers, acquisitions and capacity expansions as the major strategies to increase the market presence and annual revenues

Biosurfactants Market Size Worth $2,308.8 Million By 2020

 The global market for biosurfactants is expected to reach USD 2,308.8 million by 2020, according to a new study by Grand View Research, Inc. Rising consumer preference for bio-based products, particularly in Europe and North America, is expected to be the key factor driving the market growth. In addition, stringent regulatory policies are expected to augment the demand for biosurfactant over the next six years.

Methyl Ester Sulfonate (MES) was the most consumed biosurfactant, accounting for 33.26% of the 344 kilo ton global market in 2013. Its superior properties, in terms of foaming and stability, as compared to other surfactants make it ideally suited for use in household detergents. Other key biosurfactants include Alkyl Polyglucosides (APG), Sorbitan Esters, and Sucrose Esters, with combined demand estimated at 115 kilo tons in 2013.

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Further key findings from the study suggest:

• The global biosurfactant market is expected to reach 462 kilo tons by 2020, growing at a CAGR of 4.3% from 2014 to 2020.
• Household detergent was the largest application segment, consuming 153.5 kilo tons of biosurfactants in 2013. Growing demand for sustainable products in cleaning applications is expected to boost the demand for biosurfactants over the forecast period.
• Personal care applications are expected to gain significant share owing to the growing market for these products in Asia Pacific. In addition, growing consumer awareness regarding the benefits of bio-based personal care products is expected to have a positive influence on the market. The demand for biosurfactants in personal care is expected to reach 50.7 kilo tons by 2020, growing at a CAGR of 4.5% from 2014 to 2020.
• Europe was the largest regional market for biosurfactants, with a consumption of 178.9 kilo tons in 2013. High consumer awareness and demand for bio-based products are the key factors responsible for the high penetration of biosurfactants. Asia Pacific was a relatively smaller market in 2013 but is expected to gain significant share over the next six years owing to the presence of key manufacturing industries in the region.
• The global biosurfactants market is consolidated with the top five companies catering to nearly 90% of global demand. Key players in the market include BASF Cognis, Ecover, Urumqui Unite, Saraya, and MG Intobio.

Metamaterial Market Size Worth $1.35 Billion By 2025 | CAGR: 17.8%

 The global metamaterial market size is expected to reach USD 1.35 billion by 2025, according to a new report by Grand View Research, Inc. The market is expected to witness a CAGR of 17.8% over the forecast period, owing to Increasing demand from various end-use industries, including consumer electronics and medical, is driving the growth of the market. In addition, growing application scope in the aerospace & defense industry is expected to further fuel the demand growth during the forecast period.

Metamaterials are composite materials specially engineered to have properties that are not found in nature and thus is used in formulation processes across various end-use industries. The key end-use industries, include aerospace & defense, medical, automotive, consumer electronics, and energy & power.

In terms of revenue, the aerospace & defense accounted for the largest share of the industry revenues in 2016 and is anticipated to continue its dominance over the forecast period, projected to grow at a CAGR of 15.2%. The increasing need for advanced telecommunications and safety devices in the aerospace and automotive industries is expected to drive the industry growth.

Different types of metamaterials are used in the different application segments depending upon the requirement of the end use verticals. Metamaterials are also being used in the medical and energy & power industries, owing to its superior properties such as the ability to manipulate electromagnetic waves and provide better imaging in medical equipment.

The demand for metamaterials is expected to be primarily driven by the growth of the end-use verticals in the Asia Pacific region. The growth of the consumer electronics and aerospace & defense industries in the region is likely to have positive impacts on the overall industry growth during the forecast period.

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Further key findings from the report suggest:

• The consumer electronics segment is expected to be the highest growing segment in terms of revenue, projected to grow at a CAGR of 21% from 2017 to 2025, mainly on account of the product’s widening application scope in electronics goods for performance enhancement, in place of semi-conductors.
• The aerospace & defense segment emerged as the largest end-use segment in terms of revenue in 2016, and is estimated to continue this dominance till 2025. This can be attributed to the rapid growth of this end-use vertical in key economies such as the U.S., Germany, the UK, China, India, and Russia.
• The antenna segment accounted for the largest market share of the overall industry in 2016 and is anticipated to experience steady growth over the forecast period, primarily owing to the increasing demand for advanced antennas in aerospace, defense, and telecommunications applications.
• The industry in Asia Pacific is projected to witness grow at a CAGR of 22% during the forecast period, mainly owing to robust growth of key end-use industries in the region, most notably the consumer electronics industry.
• Key players of the industry, including Metamaterial Technologies Inc., Echodyne, Kymeta Corporation, and Harris Corporation. Ltd., are mainly focused on mergers & acquisitions and new product developments for gaining access to higher market shares in the overall industry.

EV Range Extender Market Demand To Reach 494,083 Units By 2025

 

EV Range Extender Market Growth & Trends

The global EV range extender market demand is estimated to reach 494,083 units by 2025 at a 10.2% CAGR during the forecast period, according to a new report by Grand View Research, Inc. An electric vehicle (EV) range extender is an external system that helps increase vehicle range to support long-distance travel. Robust growth in adoption of fully electric passenger and commercial vehicles to reduce CO2 emissions, coupled with extendable range and high-performance capabilities, are expected to propel market growth.

The automotive industry is considered to be the largest consumer of oil in the world, contributing to high pollution levels globally. Governments across various countries have imposed stringent regulations on automobile manufacturers to produce low/zero emission vehicles to help reduce carbon footprint.

Besides this, governments of developing countries such as China and India are providing subsidies to promote the adoption of electric vehicles. For instance, in August 2018, the Indian government announced to offer a subsidy of around 20% on purchase of new electric vehicles. However, low mileage range of EVs can be a major concern for consumers as it limits the distance traveled. To overcome this, key manufacturers such as BMW Group, General Motors, Volvo Car Corp., and Mahle Group have launched EV range extender solutions that help increase battery capacity to support long distance traveling. This has had a positive impact on market growth.

In an attempt to increase their market share and improve overall profitability, key automobile manufacturers are focused on integrating range extenders into their new EV models. For instance, BMW Group launched the BMW i3 EV integrated with a range extender solution, which enables consumers to drive longer distances. In 2016, Nissan Motors Co. Ltd. launched LEAF, an e-powered hybrid vehicle, in several APAC countries.

Key market players are also investing significant funds in R&D activities to develop innovative range extender products to extend driving range and improve battery efficiency, along with reducing overall battery price. However, increasing focus of OEMs to incorporate range extender technology in upcoming EV models, coupled with increasing trade conflicts between China and U.S., may hinder market growth over the forecast period.

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EV Range Extender Market Report

EV Range Extender Market Report Highlights

• North America accounted for the largest market share in 2017. The regional market will witness growth with some large market players such as General Motors Co. and Magna International Inc. offering ICE and fuel cell range extenders
• European governments are actively offering several rebates and subsidies to boost adoption of EVs. However, there is a lack of charging infrastructure as against rising EV sales, which is expected to propel demand for EV range extenders
• Governments across the globe are continuously investing in enhancing public transport infrastructure, thereby driving adoption of electric commercial vehicles. Deployment cost of range extenders is lower than the cost involved in setting up a charging infrastructure
• Key market players are collaborating with EV manufacturers to develop new innovative technologies that will offer alternative range extender solutions as well as incorporate range extenders in new vehicle models.