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Infrastructural growth is favouring the global elevators and escalators market. Market Research Future (MRFR) reports that the market is set to exhibit a healthy growth over the next couple of years. Elevators and escalators are becoming common facilities in modern buildings. The growth vertical housing is fuelling the demand for vertical transportation.
Increased number of skyscrapers coupled with the rising demand for effective vertical transportation has reflected favourably on the global elevators and escalators market. Elevators and escalators improve the mobility convenience in multi-storey building especially for aged individuals. Growth of the global construction sector can be linked with the increased demand for elevators. Market players are focusing on capturing untapped markets in emerging economies in order to improve their position. Meanwhile, many are investing in product innovation to gain a competitive edge. Global Elevator and Escalators Market: Segmental Analysis The segmental analysis of the market has been conducted based on end user, elevator technology, service and type. On the basis of end user, the market has been segmented into residential and non-residential. Based on elevator technology, the market has been segmented into traction and hydraulic. Based on service, the market has been segmented into maintenance & repair and new installation. The new installation segment currently represents a relatively larger share of the market in terms of value. This trend is projected to continue beyond 2019. Construction of new buildings remains the prime driver of the segment. The maintenance & repair segment is also expected to remain highly profitable. Elevator and escalators require regular maintenance for proper functioning; it is also important as it ensure users’ safety. With increased installations, demand for maintenance and repair services continues to grow. Based on type, key segments include moving walkways, escalators and elevators. Of these, the elevators segment commands the largest share of the market and is expected to maintain its leading position throughout the assessment period. Elevators have become an important part of modern commercial infrastructure. Meanwhile, the escalator segment is also expected to witness a sound growth overt the next couple of years. Development of multi-storey shopping malls, commercial buildings and departmental stores has led to an increased demand for escalators. Global Elevator and Escalators Market: Regional Analysis Key regions covered in the region include Europe, North America and Asia Pacific (APAC). Of these, Asia Pacific is expected to remain the most attractive market for elevators and escalators during the assessment period. The APAC elevators and escalators market is benefiting from the rapid urbanization and industrialization in countries such as China and India. Over the last decade, construction activities in these countries have grown manifolds. Increased efforts to improve infrastructure has led to erection of skyscrapers in many APAC countries. The construction sector has witnessed significant expansion in emerging economies in APAC. This can be attributed to introduction of new regulatory frameworks, land acquisition policies and increased demand for affordable housing. Europe holds the second spot in the global elevator and escalators market in term of value. The region is home to some of the prominent market players. Technologically, Europe’s elevator and escalators industry is advanced and supported by a robust R&D pipeline. At the same time, mega European cities such as London, Berlin, Amsterdam, Paris among others present significant market opportunities. Europe is followed by North America, which is third largest market for elevators and escalators. North America market is led by the U.S., which will remain a key destination for market players during forecast period. Global Elevator and Escalators Market: Competition Analysis Sigma Elevator Company (Korea), KONE Corporation (Finland), United Technologies (U.S.), Mitsubishi Electric Corporation (Japan), FUJITEC (Japan), Hyundai Elevator Co., Ltd. (South Korea), Stein Ltd (Russia), Gulf Elevator & Escalator Co. Ltd. (Saudi Arabia), Toshiba Elevator And Building Systems Corporation (Japan), Otis Elevator Company (U.S.), Schindler (Switzerland), Electra Ltd. (Israel), ThyssenKrupp AG (Germany), PAPPAS Elevators (Russia), and Hitachi Ltd. (Japan) are among the leading companies profiled in MRFR’s report. Note: The COVID-19 pandemic disruption is estimated to transform the XX market in the years to come drastically, and its after-effects will be persistently seen in the years ahead. The MRFR report on the XX market meticulously tracks the COVID-19 pandemic effect for the years ahead. Moreover, the precise analysis of drivers and restraints in a post-COVID-19 market offers a coherent understanding of future growth cues. Follow Our LinkedIn Page: https://www.linkedin.com/showcase/ict-mrfr/
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Prefabricated building architecture is gaining momentum worldwide. According to a report published by Market Research Future (MRFR), the global prefabricated buildings market is likely to surpass a valuation of USD 135,000 Mn by the year 2023, reflecting a 5.54% CAGR during the forecast period (2018-2023).
Advances in architecture design has led to the arrival of new-age architectural solutions such as prefabricated buildings. Need for faster infrastructure development as well as rapid adoption of cost-effective solutions in the construction sector is favouring the global prefabricated buildings market. Prefabricated building materials are aligned with modern construction engineering methods. This has bolstered the industry for prefabricated building materials. Preference for prefabricated materials is growing with the increased pressure on construction sector to build faster. Moreover, various hurdles in constructing building parts onsite is prompting a shit towards prefabricated buildings. Demand for prefabricated buildings is fuelled by the rapid growth of the construction sector. Investment in infrastructural development projects in emerging economies is a prime market driver. Countries such as China, Brazil and India are witness a boom in the domestic construction sector, which is ushering market growth. In recent years, the global construction sector has flourished owing to economic growth and a stable global GDP. Fast developing countries in regions such as South America, Latin America and the Middle East and Africa are expected to make significant contribution to the market during the forecast period. Governments in developing countries are introducing policies to improve public service infrastructure and develop affordable housing. Improved construction policies, lower down-payment, increased demand for affordable housing are some of the key factors providing an impetus to the global prefabricated buildings market. In advance economies, market growth in primarily driven by increased renovation activities. At the same time, need for infrastructural upgradation and focus on enhancing aesthetic value is propelling the construction sector in advanced economies. Global Prefabricated Buildings Market: Segmental Analysis MRFR’s report includes a detailed segmental analysis of the market based on application, module type, product and region. On the basis of application, the market has been segmented into residential, commercial and industrial. In terms of value, the commercial segment commands a significant share of the market. Currently, the segment is valued at more than USD 36,000 Mn and expected to demonstrate an above-average growth rate over the next couple of years. On the basis of module type, the market has been segmented into kitchenette, bathroom pods and others. The bathroom pod segment is expected to retain its top over 2023. On the basis of product, the market has been segmented into combined system, cellular system, panel systems and skeleton system. The panel system currently commands more that 33% market share in terms of value. The segment is expected to witness a strong growth during the projection period. Global Prefabricated Buildings Market: Regional Analysis Asia Pacific is the largest market for prefabrication buildings. The APAC prefabricated buildings market is expected to witness a healthy growth during the forecast period. Rapid expansion of the construction sector in APAC can be linked with the impressive growth of the market in the region. Macroeconomic factors such as urban influx, industrial growth, and rising per income are also influencing the market growth in APAC. Emerging economies in the APAC, MEA, and Latin America are expected to make impressive contribution to the global prefabricated buildings market during the forecast period. Global Prefabricated Buildings Market: Competition Analysis Some of the leading companies functioning in the market include Algeco Scotsman, Champion Home Builders, Inc., Kirby Building Systems LLC, Ritz-Craft Corporation, Par-Kut International Inc., Red Sea Housing Services, United Partition Systems Inc., Butler Manufacturing Company, Modern Prefab Systems Pvt. Ltd., Lindal Cedar Homes, Inc. and Astron Buildings. Note: The COVID-19 pandemic disruption is estimated to transform the XX market in the years to come drastically, and its after-effects will be persistently seen in the years ahead. The MRFR report on the XX market meticulously tracks the COVID-19 pandemic effect for the years ahead. Moreover, the precise analysis of drivers and restraints in a post-COVID-19 market offers a coherent understanding of future growth cues. Follow Our LinkedIn Page: https://www.linkedin.com/showcase/ict-mrfr/ The global precast concrete market is expected to exhibit a strong 5.36% CAGR over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). The global precast concrete market is mainly driven by the growing demand for rapid construction infrastructural buildings and residential complexes in developing regions. The growing construction industry in the emerging parts of the world is likely to be a major driver for the global precast concrete market over the forecast period. The global precast concrete market was valued at more than USD 76.2 billion in 2017 and is expected to rise to a valuation of more than USD 103.6 billion by 2023.
Precast concrete is concrete that is molded into the desired shape and cured at the site of manufacturing rather than at the site of application. The process of curing and shaping precast concrete in the manufacturing plant rather than at the building site allows manufacturers to drastically reduce wastage, as the process is monitored. The ease of curing concrete blocks at the manufacturing site before transporting them to the building site also makes the curing process more reliable and safer, as the process can be monitored by the manufacturer and improvements can be made much easily at the manufacturing unit rather than at the building site. The growing awareness about these benefits of precast concrete is likely to drive the global precast concrete market over the forecast period. Since precast concrete manufacturing is more efficient when producing larger volumes of orders, precast concrete is mostly used for buildings that require the same internal structure multiple times, such as residential apartment blocks, schools, and other such buildings. The growing demand for such buildings due to the growing urbanization in developing countries around the world is likely to be a major driver for the global precast concrete market over the forecast period. Competitive Analysis: Leading players in the global precast concrete market include Larsen & Toubro Limited, Taiheiyo Cement, SMEET, Metromont Corporation, HeidelbergCement AG, Coltman Precast Concrete Limited, CRH, Coreslab Structures, Tindall Corporation, Molin Concrete Products Company Inc., Jensen Precast, and SKANSKA AB. In May 2019, development work began on a precast concrete plant in Lacoochee, Florida. The land was previously a cypress processing mill and is expected to provide a much-needed boost to the local economy. Segmentation: The global precast concrete market is segmented on the basis of product, application, end user, and region. By product, the global precast concrete market is segmented into floors and roofs, columns and beams, stairs and landing, and walls, the last of which is sub-segmented into solid walls and sandwich walls (thermal walls). By application, the precast concrete market is segmented into structural components, architectural components, bridge components, and others. By end use, the global market is segmented into residential, non-residential, and agriculture. Regional Analysis: Asia Pacific is likely to hold the largest share in the global precast concrete market over the forecast period due to the growing construction industry in the region and the growing support for the widespread adoption of precast concrete products. The growing urbanization in Asia Pacific is a major driver for the precast concrete market in the region, as this has driven the demand for apartment complexes and office buildings, two of the most important applications for the precast concrete market. Asia Pacific held a share of 43.45% in the global precast concrete market in 2017 and is likely to exhibit the highest CAGR of 5.52% over the forecast period. North America holds the second largest share in the global precast concrete market, with 25.09%. The growing demand for residential and industrial complexes in North America is likely to be a major driver for the precast concrete market in the region over the forecast period. Many leading players in the global precast concrete market are also situated in North America, which gives the region extra significance in the global precast concrete market as a technological innovation leader. Note: The COVID-19 pandemic disruption is estimated to transform the XX market in the years to come drastically, and its after-effects will be persistently seen in the years ahead. The MRFR report on the XX market meticulously tracks the COVID-19 pandemic effect for the years ahead. Moreover, the precise analysis of drivers and restraints in a post-COVID-19 market offers a coherent understanding of future growth cues. Follow Our LinkedIn Page: https://www.linkedin.com/showcase/ict-mrfr/ The electric vehicle thermal management system market could achieve a CAGR of 9% during the forecast period (2018-2025), ventures Market Research Future (MRFR).
Primary Boosters and Top Restraints A thermal management system helps control the temperature of several systems present in vehicles. Soaring demand for e-mobility along with strict regulations with regard to fuel economy to bring down greenhouse emissions are expected to work in favor of the electric vehicle thermal management system market. Surging sales of electric vehicles also induce market growth across the globe. Rising awareness about driver comfort is projected to present the market players with a host of promising opportunities in the near future. Government initiatives also help boost the adoption of electric vehicles the world over. To illustrate, in September 2017, the Indian Ministry of Road Transport and Highways furnished a series of non-fiscal incentives, with the aim of ensuring that electric vehicles would account for close to 15% of overall vehicle sales over the next five years. Increasing adoption of power modules such as intelligent power module (IPM) in the automobile sector as well as burgeoning population stimulates market growth as well. Besides, improving economies of emerging nations add to the market strength to a great extent. Market Segmentation The electric vehicle thermal management system industry covers segments like system, component type, technology, application, and vehicle type. System-wise, the global market consists of heating, ventilation, and air conditioning (HVAC), powertrain cooling, fluid transport, and others. With regard to component type, the global market is considered for motor, battery, and cabin area. With respect to technology, the global market includes exhaust gas recirculation (EGR), active transmission warmup, reduced HVAC system loading, and others. In terms of application, the global market caters to air conditioning, engine cooling, waste heat recovery, heated steering, heated/ventilated seats, transmission system, and others. The types of vehicles covered in the report are hybrid, battery, and plug-in hybrid electric vehicle. Regional Insight The electric vehicle thermal management system market is spread across the primary regions of North America, Asia Pacific (APAC), Europe, and the rest of the world (RoW). In 2018, APAC was identified as the leading market for electric vehicle thermal management system. Europe and North America retained the second and third spot in the global market. APAC’s market growth has been formidable in recent years, given the immense surge in the production of e-vehicles as well as electric car battery cooling systems. This factor has led to high installation rate of thermal management systems in electric vehicles in the region. On top of this, the increasing electrification of vehicles could stimulate the demand for electric vehicle thermal management systems in the coming years. Soaring demand for safety features in vehicles combined with considerable investments by public and private players for the development of electric vehicle thermal management systems like integrated dual chargers and power inverters contributes significantly to the market in the region. North America has seized the second-largest share of the global market, thanks to the high funds spent on research and development for promotion of advanced vehicle technologies. The regional market also benefits from a large number of well-known thermal management system manufacturers like Dana Limited and BorgWarner Inc. and others. Besides, the United States (US) Environmental Protection Agency (EPA) along with Department of Transportation’s National Highway Traffic Safety Administration (NHTSA) has implemented fuel economy and greenhouse gas standards for vehicles. These standards are for all the automobiles, such as electric vehicles. The European Union (EU) furnished regulatory laws for vehicle emissions, with countries like the United Kingdom (UK) and France announcing timelines to create zero-emission zones. This helps create robust demand for thermal management systems in electric vehicles, benefitting the regional market in the process. Leading Vendors Some of the vendors that are currently leading the worldwide electric vehicle thermal management system market include MAHLE GmbH (Germany), Dana Limited (US), VOSS Automotive GmbH (Germany), BorgWarner Inc. (US), Robert Bosch GmbH (Germany), Valeo (France), Gentherm (US), Modine Manufacturing Company (US), Hanon Systems (South Korea), Denso Corporation (Japan), to name a few. Industry News September 2019 ION energy recently launched the latest cloud-based battery management platform called Edison Analytics. This platform makes use of a combination of machine learning, electronics, digital twin technology, and data analytics. Note: The COVID-19 pandemic disruption is estimated to transform the XX market in the years to come drastically, and its after-effects will be persistently seen in the years ahead. The MRFR report on the XX market meticulously tracks the COVID-19 pandemic effect for the years ahead. Moreover, the precise analysis of drivers and restraints in a post-COVID-19 market offers a coherent understanding of future growth cues. Follow Our LinkedIn Page: https://www.linkedin.com/showcase/ict-mrfr/ According to the report published by Market Research Future (MRFR), the global market for electric vehicle connectors is slated to reach a substantial market value at a moderate CAGR over the assessment period
Drivers and Restraints The primary driving factors for the growth of the electric vehicle connector market are the improving charging infrastructure in developing countries, rapidly growing charging points across globe, increasing production and sales of electric vehicles globally, raising long-distance driven by electric cars, increasing demand for environment friendly vehicles, and the rising demand for fast charging vehicles. The Electric Vehicle Connector is a simple solution for charging hybrid electric cars and plug-in electric cars, which is ideally suited to stationary charging. The lack of standardization for connectors, higher cost, and energy loss during transmission is considered as the critical hindering factor for the growth of this market. Moreover, the growing disposable income in various developing countries, along with the increasing demand for the vehicle to the grid charging station, are providing an ample opportunity growth of this market. The global electric vehicle connector market is projected to witness substantial growth during the assessment period. The rising production of electric vehicles is accelerating the growth of the electric vehicle connector market. Also, the increasing support, incentives, and subsidies from governments across the globe for the production and sales of electric vehicles are even driving the growth of this market. One of the key factors considered for the growth of this market is the increasing competition between electric vehicle connector system manufacturers and growing support from the local government of different countries has encouraged the producers to design the connector system according to the guidelines set by governing bodies across the regions. Segmental Analysis The global market for Electric Vehicle Connectors is segmented based on charging type, connector type, current supply, power supply range, charging station, component, charging speed, vehicle type, application, and region. Based on the connector type, the market has been segmented into type2, type3, type1, and others. Based on the power supply range, the electric vehicle connector market has been divided into level 3 (DC 200 V–600 V Up to 240 kW), level2 (AC 240 V Up to 19.2 kW), level1 (1.4 kW–1.9 kW), and level 4 (>DC 600 V, Above 240 kW). The segmentation based on current supply charging includes AC charging and DC charging. Based on the charging station, the market has been segmented into wall-mounted and floor mounted. Based on charging speed, the market has been segmented into a slow, fast and rapid charger. Based on the component, the electric vehicle connector market has been segmented into adaptors, leads, pins, wall boxes, and others. Based on vehicle type, the global market for electrical vehicle connector has been categorized into plug-in EV, battery EV, and hybrid EV. Based on the application, the electric vehicle connector market has been bifurcated into residential and commercial. Regional Analysis Geographically, the global Electric Vehicle Connector Market has been studied in major regions such as North America, Asia-Pacific, Europe, and the Rest of the World. The Asia-Pacific region is projected to account for the maximum market share during the forecast period owing to the growing charging infrastructure from China and Japan. Moreover, increased production and sales of the electric vehicle are expected to boost the demand for the electric vehicle connector market in this region. Furthermore, the rising disposable income from countries such as India, China, and other countries and growing population, urbanization, and rising focus to reduce vehicle emissions are contributing to the growth of this market in this region. Key Players The major market players in the global Electric Vehicle Connector Market include Huber+Suhner (Switzerland), Schneider Electric (France), Yazaki (Japan), Tesla (US), ABB (China), Bosch (Germany), Siemens AG (Germany), Amphenol (US),Fujikura (Japan), and Sumitomo (Japan). Note: The COVID-19 pandemic disruption is estimated to transform the XX market in the years to come drastically, and its after-effects will be persistently seen in the years ahead. The MRFR report on the XX market meticulously tracks the COVID-19 pandemic effect for the years ahead. Moreover, the precise analysis of drivers and restraints in a post-COVID-19 market offers a coherent understanding of future growth cues. Follow Our LinkedIn Page: https://www.linkedin.com/showcase/ict-mrfr/ Market Overview
In its research report, Market Research Future (MRFR), emphasizes that the global electric sports utilty vehicle market 2020 is slated to grow exponentially over the review period, securing a substantial market valuation and a healthy CAGR over the review period. Drivers and Restraints Automobiles operating on non-renewable fuel supplies emit large quantities of carbon, which is a primary polluting agent. Governments are also encouraging environmentally friendly vehicles which are supposed to curb carbon emissions. Rising levels of stringency in terms of environmental legislation and increasing knowledge among the masses about environmental degradation are expected to play key roles in this market’s growth over the forecast period. In addition, competitive rewards by regulatory bodies such as free parking and charging batteries, along with discounts, have had a major effect on business growth. Monetary programs include incentives to purchase alternative fuel cars, and exemptions for car owners from road tax exemptions. This is expected to boost the market for electric sports utility vehicles (SUVs) over the forecast era. Increasing worldwide demand for SUVs due to the recent flock of electric SUV models has also driven buyers to opt for SUVs over traditional sedans and hatchbacks. Electric SUVs deliver numerous advantages such as low emissions, ease of maintenance, versatile interior space, improved performance, enhanced esthetic appearance, comfort and a higher ride position. This is projected in the near future to raise the electric SUV market. Rising fuel costs are expected to propel the electric SUV market during the forecast period, complemented by low recharging costs of electric SUVs. Larger and less aerodynamic electric vehicles, however, require heavier, larger, and more expensive batteries to power it. This is likely to hamper the demand for hybrid SUVs over the projected period. Segmental Analysis The global electric sports utility vehicle market is analyzed on the basis of the drive train, and seater type. On the basis of the drive train, the market is segmented into Rear Wheel Drive (RWD), Front Wheel Drive (FWD), and All-Wheel Drive (AWD). By seater type, the market is bifurcated into 5-seater and 7-seater. Regional Analysis The geographical overview of the global market has been analyzed in four major regions, including North America, the Asia Pacific, Europe, and the rest of the world. The area was dominated by the U.S. followed by Canada. In the last few years, this area has witnessed rising demand for SUVs and recreational vehicles. Nonetheless, demand for e-SUVs is also expected to increase over the next five years due to strict environmental regulations. In the Global Electric Sports Utility Vehicle market the Asia Pacific region is projected to rise at the fastest CAGR. China dominates this area, which is regarded as one of the fastest-growing countries in the global automotive sector. Technologically advanced countries like Japan, Indonesia and South Korea also have played a key role in market growth in this area. In addition, developing countries such as India, Taiwan and Malaysia provide a tremendous opportunity for further growth of these markets. These markets are untapped, encouraging e-SUV OEMs to invest and establish themselves as strong players in the local market. Competitive Analysis The key market players operating in the global market as acknowledged by MRFR are Honda Motor Company, Ltd. (Japan), Utility Vehicle (E-SUV) Market include Tesla, Inc. (U.S.), Toyota Motor Corporation (Japan), Jaguar Land Rover (UK), BMW Group (Germany), Porsche AG (Germany), Volvo Car (Sweden), Audi AG (Germany), The Hyundai Motor Company (South Korea), and Nissan Motor Co., Ltd. (Japan). Note: The COVID-19 pandemic disruption is estimated to transform the XX market in the years to come drastically, and its after-effects will be persistently seen in the years ahead. The MRFR report on the XX market meticulously tracks the COVID-19 pandemic effect for the years ahead. Moreover, the precise analysis of drivers and restraints in a post-COVID-19 market offers a coherent understanding of future growth cues. Follow Our LinkedIn Page: https://www.linkedin.com/showcase/ict-mrfr/ The global electric parking brake market is expected to exhibit a strong 7% CAGR over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). The report provides a detailed analysis of the global electric parking brake market, covering factors such as the major drivers and restraints acting on the market, the major players operating in the market, and the key tactics likely to succeed in the market in the coming years.
Electric parking brakes are an upgrade over the manual handbrake systems seen universally in legacy models of automobiles. The use of electric parking brakes has increased over the last few years due to the growing attention being paid to driver safety and comfort. The theoretically higher reliability of electric parking brakes over manual parking brakes has led to widespread adoption of electric parking brake systems in the automotive industry. The growing regulations intended to improve driver safety are also likely to be a major driver for the global electric parking brake market over the forecast period. The growing use of electronic control units has enabled smooth growth of the global electric parking brake market. While manual handbrakes were the norm in older automobiles, the use of electronic control modules has made it easier to adopt electric parking brakes. The growing demand for electronic controls in cars and commercial vehicles is likely to be a major driver for the electric parking brake market over the forecast period. On the other hand, the high costs of electric parking brakes and the risk of malfunction are the key restraints operating on the market. Competitive Analysis: Leading players in the global electric parking brake market include Zhejiang Wanchao Electric Appliance Co. Ltd., Wuhu Bethel Automotive Safety Systems Co. Ltd., ZF Friedrichshafen AG, Svenska Kullagerfabriken AB, Mando-Hella Electronics Corp., Kuster Holding GmbH, Hyundai Mobis Co. Ltd., TBK Co. Ltd., DURA Automotive Systems, Continental AG, and Aisin Seiki Co. Ltd. Players in the electric parking brake market are likely to focus on improving the reliability of the brake systems in the coming years. In 2016, Honda recalled about 350,000 models of 2016 Civics due to issues with the electric parking brake systems. In May 2019, a new class action lawsuit was proposed against Honda, alleging that the electric parking brake systems are prone to malfunction and unreliability, leading to the vehicles rolling away even when the system is set on “park” mode. Segmentation: The electric parking brake system market is segmented based on type, sales channel, components, vehicle type, and region. On the basis of type, the electric parking brake market is segmented into electric-hydraulic caliper system and cable-pull system. On the basis of sales channel, the market is segmented into OEM and aftermarket. On the basis of component, the electric parking brake market is segmented into electronic control unit (ECU), actuator, and switch. On the basis of vehicle type, the market is segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles. Regional Analysis: North America is likely to dominate the global electric parking brake market over the forecast period. The increasing demand for electronic safety systems in both passenger and commercial vehicles and the growing government support for the widespread adoption of the same are likely to be the major drivers for the electric parking brake market in North America over the forecast period. The growing production of automotive ancillary components in Mexico is also likely to be a major driver for the electric parking brake market over the forecast period. The increasing sale of commercial vehicles in the U.S. is also likely to be a major driver for the electric parking brake market over the forecast period. Europe is also likely to play a leading role in the global electric parking brake market over the forecast period due to the growing demand for electronic safety systems in automobiles and the growing presence of leading automotive tech developers in the region. The growing demand for premium vehicles equipped with the latest in safety tech is likely to be the key driver for the electric parking brake market in Asia Pacific. Note: The COVID-19 pandemic disruption is estimated to transform the XX market in the years to come drastically, and its after-effects will be persistently seen in the years ahead. The MRFR report on the XX market meticulously tracks the COVID-19 pandemic effect for the years ahead. Moreover, the precise analysis of drivers and restraints in a post-COVID-19 market offers a coherent understanding of future growth cues. Follow Our LinkedIn Page: https://www.linkedin.com/showcase/ict-mrfr/ The global electric motorcycles market can attain a growth rate of 10.35% during the forecast period (2019–2025), believes Market Research Future (MRFR).
Market Boosters and Key Barriers Electric motorcycles function by using electricity as fuel. The electric motorcycle, unlike electric bikes, electric scooters, electric mopeds, and electric bicycles, refers to a two-wheeled vehicle that works with the use of a motor. These vehicles are designed for higher speeds and come with enhanced acceleration as well as high-speed handling characteristics. They are ideal for slow urban commutes or highway speeds and beyond. Electric motorcycles provide more wind protection compared to scooters and moped and usually consist of some cargo storage. Furthermore, diminishing oil reserves around the world coupled with rising number of government initiatives to boost the use of green vehicles has given rise to alternative solutions, which benefits the market. The market growth is also the result of considerable investments in vehicle charging infrastructure, surging interest from large scale manufacturers and reduced battery costs. However, a couple of performance constraints and a general lack of awareness regarding electric motorcycles can thwart the ongoing market growth rate in the near future. Additional factors that are stimulating market growth include the incorporation of regenerative braking, economical maintenance costs, elevated mechanical efficiency and low noise levels, which boost the adoption of environment-friendly vehicles. The electric motorcycles market can witness further growth during the review period, thanks to rising demand in developing countries like India and Thailand. Market Segmentation The worldwide market for electric motorcycle has been segmented on the basis of vehicle range, battery type and voltage. Depending on the vehicle range, the global market can be split into below 75 Miles, 75-100 Miles, and above 100 Miles. With respect to the battery type, the global market has been considered for li-ion, lead acid, and nickel metal hydride. Voltage-based segments in the global market are below 24 Volt, 24-48-volt, 48-60 volt, and above 60 volts. Regional Outlook MRFR gives a clear picture of the global electric motorcycles market by segmenting it regionally into North America, Europe, Asia Pacific (APAC), in addition to the Rest of the world. The APAC electric motorcycles market is believed to have the most potential to achieve the highest CAGR during the forecast period. The region is showing remarkable progress owing to factors like rising concerns about carbon and greenhouse gas (GHG) emissions that have accelerated the need for fuel-efficient vehicles. Burgeoning population, increasing traffic congestion, declining prices of electric motorcycles, and mounting environmental concerns add to the market strength in the region. Europe along with North America will demonstrate significant market growth in the following years, given the quick rate of adoption of electric motorcycles and the strong support given by the government in the form of financial and non-financial incentives. Also, high commuter base in these regions stimulates market growth. Rising availability of smart charging stations also offers a host of opportunities to both these regional markets in terms of growth. Solar-powered and automated charging stations are becoming popular, which also benefits the market. Electric motorcycles providers are striving to make a mark in the market by designing and developing these types of charging stations to expand the horizons of complete nature-based transportation. Top Vendors Top vendors influencing the worldwide electric motorcycles market include Electric Motion (France), LITO MOTORCYCLES (France), Revolt Motors (India), Bell Custom Cycles (BCC) (US), Alta Motors (US), TACITA SRL (Italy), Zero Motorcycles Inc. (US), Blacksmith Electric (India), Husqvarna Motorcycles GmbH (Austria), Johammer e-mobility GmbH (Germany), Harley-Davidson, Inc. (US), Essence Motorcycles (France), Razor USA LLC. (US), Energica Motor Company S.p.A.(Italy), Torkmotors (India), among others. Note: The COVID-19 pandemic disruption is estimated to transform the XX market in the years to come drastically, and its after-effects will be persistently seen in the years ahead. The MRFR report on the XX market meticulously tracks the COVID-19 pandemic effect for the years ahead. Moreover, the precise analysis of drivers and restraints in a post-COVID-19 market offers a coherent understanding of future growth cues. Follow Our LinkedIn Page: https://www.linkedin.com/showcase/ict-mrfr/ Market Research Future (MRFR), in its newly published research report, asserts that the global electric commercial vehicle market is booming and expected to grow exponentially over the review period, recording a substantial market valuation and a healthy CAGR in the forecast period.
Drivers and Restraints The demand for commercial electric vehicles such as electric trucks in the logistics industry to reduce fuel expenses is already on its peak. Companies are working to improve EV battery capacity and enable the electric commercial vehicle to transport substantial loads over a more extended range. The growing demand for emission-free cars is expected to fuel market growth. Governments are promoting the usage of energy-efficient and less fossil dependent road transport system. Several countries are planning to ban the production of fossil fuel-powered vehicles. Continuous rise in awareness about the use of renewable transportation options; hence its shift from diesel to electric is likely to be happening faster. In recent times organizations are developing vehicles capable of operating on renewable sources within the spectrum of green transport. Efforts for technological improvements and innovation in transportation have been intensified, and fleets of vehicles using renewable sources are the new trend for public authorities, non-profit organizations and many private companies promoting sustainable development. On the other hand, limited battery power and longer charging duration are expected to limit the electric commercial vehicle market growth. Segmental Analysis The global market for electric commercial vehicles has been segmented on the basis of propulsion type, vehicle type, range, and components. Based on the propulsion type, the market has been segmented into Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), Plug-in Hybrid Electric Vehicle (PHEV), and Fuel cell Electric Vehicle (FCEV). Based on the vehicle type, the electric commercial market has been segmented into bus, truck, and others. Based on the range, the market has been segmented into 0-150 miles, 251-500 miles, 151-250 miles, and above 500 miles. Based on the components, the market has been segmented into electric motors, hydrogen fuel cells, EV battery, and others. Regional Analysis The geographical analysis of the global market has been conducted in four major regions, including the Asia Pacific, North America, Europe, and the rest of the world (Latin America, and the Middle East, and Africa). Among these, the Asia-pacific region is projected to dominate the market during the forecast period, followed by Europe and North America. Growing investment in the development of charging infrastructure and increasing initiatives to create awareness about the benefit associated with a commercial electric vehicle in countries like Japan, China, and South Korea are expected to fuel the electric commercial vehicle market growth in the Asia-Pacific region. China is expected to drive the electric commercial vehicle market Asia-Pacific region owing to the government policies to restrict urban pollution and the improved engagement of OEMs to develop electric commercial vehicles. Europe is expected to account for a substantial market share during the forecast period. Increasing concentration on the development of the needed infrastructure, such as charging stations, is slated to fuel the electric commercial vehicle market in Europe over the foreseeable future. The electric commercial vehicle market in the North America region is driven by the strict rules and regulations implemented by the government for vehicular emission control. The electric commercial vehicle market in the Rest of the World region is primarily driven by the increase in the purchasing power of consumers and the expected growth in electric vehicle charging infrastructure throughout the region. Competitive Analysis The major market players operating in the global market as identified by MRFR are Nissan (Japan), Tesla (US), BYD (China), Proterra (US), LG Chem (South Korea), Zhongtong Bus Holding Co., Ltd (China) and Panasonic (Japan), Ballard Power Systems (Canada), Delphi (US), ABB (Switzerland), Continental (Germany), Siemens(Germany), Mitsubishi Electric (Japan), Daimler (Germany),Toshiba (Japan), among others. Note: The COVID-19 pandemic disruption is estimated to transform the XX market in the years to come drastically, and its after-effects will be persistently seen in the years ahead. The MRFR report on the XX market meticulously tracks the COVID-19 pandemic effect for the years ahead. Moreover, the precise analysis of drivers and restraints in a post-COVID-19 market offers a coherent understanding of future growth cues. Follow Our LinkedIn Page: https://www.linkedin.com/showcase/ict-mrfr/ In its research report, Market Research Future (MRFR), emphasizes that the global electric cargo bikes market for generators 2020 is projected to rise exponentially over the forecast period, thereby ensuring significant market valuation and a healthy 28.96% CAGR over the review period.
Drivers and Restraints During the forecast period the global market expected to experience rapid growth. We expect Europe to dominate the market for electric cargo bikes. The established infrastructure and major players in this area provide sufficient prospects in the forecast period for significant growth to the European sector. In addition, the European authorities are making concerted efforts to control increasing rates of air pollution and offering support in the form of incentives, subsidies and schemes to promote the manufacture and sale of electric vehicles. Owing to the growing COVID-19 pandemic worldwide, the electric cargo bike market has been significantly impacted. Changing customer expectations and behaviour due to the changed global scenario is expected to have a direct effect on the E-Cargo Bike industry. Government authorities, however, are offering various discounts and tax cuts on e-bikes that will help market growth of the products over the period projected. As part of the green initiative programme, for example, many countries in Europe are providing discounts on electric bikes. The COVID-19 outbreak has also greatly impacted the demand for electric cargo bikes with decreased production. However, the ongoing trend, government support & policies for E-bikes along with increasing consumer awareness to reduce carbon footprint and global warming are expected to boost the market growth in the coming years. Segmental Analysis The global market for electric cargo bikes is segmented by product type, battery type, and end use. The double-wheeler segment is expected to dominate the global market based on product size. The two-wheeler electric cargo bikes are generally standing / self-balancing bikes which, depending on the weight the bike carries, can be powered around for 120 km in a single charge. Two-wheeler electric cargo bikes typically have a weight carrying capacity of up to 100 kg and are designed for hazard-free rides for both residential and commercial use. It is expected the Li-ion segment will dominate the market by battery size. The batteries are commonly used with high densities and are lightweight and effective. The li-ion batteries have superior power density and cycling capacity, playing a significant role compared to two other battery types. Based on end-use, the market will be dominated by the courier & parcel service providers segment. In this section, electric cargo bikes are used to sort packages, collect couriers / packages and transfer parcels to the nearest depot at the place of delivery. The couriers / parcels will then be shipped to the destination you want. Regional Evaluation The global business regional analysis was conducted in four major regions including Asia Pacific , North America, Europe and the rest of the world. Asia-Pacific holds the second-largest market share on the global market for electric cargo bikes in 2018. On the market for electric cargo bikes the Asia-Pacific market had the second largest market share. Asia-Pacific has seen rapid growth in recent times, owing to the fact that the region’s main players are investing heavily in electric cargo bikes by developing advanced electric cargo bikes to increase the adoption of these cars. It is anticipated that the successful initiatives taken by the governments of countries such as China, Japan , India and Singapore to build charging stations for electric vehicles by concentrating on investing in charging infrastructure growth would drive the electric cargo bike market. Collaborations between the electric cargo bike OEMs and aftermarket service providers are expected to contribute to the development of the market for electric cargo bikes. Competitive Analysis The major market players operating in the global market as identified by MRFR are Riese & Müller GmbH(Germany) Jiangsu Xinri E-Vehicle Co., Ltd(China), Rad Power Bikes LLC (US), Cero Electric Cargo Bikes(US), Yuba Electric Cargo Bikes (US), Douze Factory SAS(France) Kocass Technology Co., Ltd.(China), and Xtracycle(US), Worksman Cycles(US), and Butchers & Bicycles(Denmark). Note: The COVID-19 pandemic disruption is estimated to transform the XX market in the years to come drastically, and its after-effects will be persistently seen in the years ahead. The MRFR report on the XX market meticulously tracks the COVID-19 pandemic effect for the years ahead. Moreover, the precise analysis of drivers and restraints in a post-COVID-19 market offers a coherent understanding of future growth cues. Follow Our LinkedIn Page: https://www.linkedin.com/showcase/ict-mrfr/ |