Tag: Transportation

Automotive Collision Repair Market Size Worth $208.0 Billion By 2025

The global automotive collision repair market size is expected to reach USD 208.0 billion by 2025, according to a new study by Grand View Research, Inc. It is projected to register a CAGR of 2.3% during the forecast period. Technological advancements and subsequent development of innovative repair techniques are anticipated to boost the market. For instance, a new production technology, 3D printing of automotive parts, is extensively being deployed by key players to optimize their production costs. This technique enable efficient fabrication performance and reduces emission toxicity.

In addition, growing adoption of alternative fuel vehicles is anticipated to propel the market in the forthcoming years. The U.S. government has implemented several initiatives to support the sales and use of alternative-fuel vehicles such as cars and trucks that run on hydrogen and natural gas. For instance, in California, air quality is an important concern on account of which, the Federal Clean Air Act by the California Air Resources board was implemented to reduce the vehicle emissions.

The market poses promising growth prospects throughout the forecast period, owing to the combination of numerous factors such as increasing investments and research undertaken by manufacturers to customize and diversify products. For instance, 3M Automotive Aftermarket Division and West Coast Customs, a car customization company, entered into a partnership to use 3M refinishing products such as abrasives, body fillers, adhesives, coatings, paint finishing, and spray paint guns for primer. This enabled manufacturers to enter the car customization segment.

Introduction of new generation of vehicles in the novel service repair regimes is boosting the demand for gas and hybrid electric cars, which is expected to further drive the overall market. Furthermore, unorganized and untapped markets in Asia Pacific are anticipated to create growth opportunities for major vehicle repair vendors, which is expected to propel the global automotive collision repair market in the forthcoming years.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/automotive-collision-repair-market

Further key findings from the report suggest:

  • Incorporation of advanced telematics such as automotive or vehicle telematics act as a challenge to market growth. In the automotive industry, telematics permits manufacturers to use in-vehicle equipment such as navigation devices, communication systems, GPS, and event data recorders and offer a wide range of information and services
  • Europe held the largest share of over 44.0% in the global automotive collision repair market  in 2018. Penetration of vehicles with enhanced safety features will drive the regional market
  • Regulations for alternative fuel vehicles were implemented to reduce the current tax rate for advanced technology vehicles. Government agencies have implemented rules for passenger cars, which is expected to positively impact component sales
  • Key market players include 3M; Automotive Technology Products LLC; Continental AG; Denso Corporation; Faurecia; Federal-Mogul LLC; Honeywell International, Inc.; International Automotive Components Group; Johnson Controls, Inc.; Magna International, Inc.; Mann+Hummel Group; Martinrea International, Inc.; Mitsuba Corporation; Robert Bosch GmbH; and Takata Corporation.

Bearings Market Size Worth $186.1 Billion By 2025

The global bearings market size is expected to reach USD 186.1 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 9.1% during the forecast period. Bearings are essential in almost every application that involves motion and they help minimize friction between different mechanical components in several industrial machinery and equipment, resulting in reduced energy consumption. Hence, this machine element finds application in all industries, ranging from automobiles, household appliances, and aerospace to industrial machinery, using machinery or related motor-driven linkages.

The bearings market is estimated to witness a considerable growth in the forthcoming years, ascribed to the aim to achieve energy efficiency. Energy saving and bearings go hand-in-hand. The main objective of this element is saving energy by reducing friction, be it during the rotation of shafts of a transmission or the wheel of a vehicle. Additionally, rising demand for commercial vehicles is expected to catapult the demand from automotive sector across the world.

Technological advancements including smart bearings, development of advanced materials and lubricants, and integrating sensor units, are anticipated to provide high growth potential to the market. With the objective of enhancing performance, vendors are incorporating sensor units of the product. Sensor units help digital monitoring of rotation speed, axial movement, load carrying capacity acceleration, and deceleration. These units are presently being used in conveyors forklifts, road rollers, and electric motors. Furthermore, the integration of IoT capabilities facilitates manufacturers to monitor bearing operations constantly.

The market is mature with a dynamic demand closely related to the state of engineering industries and capital goods. Companies are offering integrated products that significantly decrease the number of bearings that go into an assembled product and reduce the overall cost of equipment. This in turn is also increasing the shelf-life and reliability of the product. Product manufacturers are increasingly investing in R&D to address the intensifying competition by providing innovative products.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/bearings-market

Further key findings from the report suggest:

  • The development of cost-effective wind energy generating product has resulted in their increased espousal within wind turbine applications that aid in increasing energy production, reduce lubricant consumption, and enhancing turbine performance and reliability
  • Roller bearings is anticipated to emerge as the largest product segment by 2025 and outpace ball bearings, ascribed to their ability to carry heavy loads and shock or impact loading
  • Railway and aerospace segment is estimated to witness the fastest CAGR of over 8.0% over the foreseeable years, due to their growing demand in applications such as shock absorbers, gearboxes, doors, and tilting mechanisms to name a few
  • Asia Pacific is anticipated to witness the fastest CAGR of over 5.0% by 2025 attributed to the increased demand for fuel-efficient passenger vehicles, industrialization, and swift infrastructure development
  • The key competitors operating in the bearings market include SKF, NSK, Timken, Schaeffler, NTN, and JTEKT. Various leading companies are investing in high-level R&D to come up with innovative solutions. These solutions are focused on being cost-effective as well as on enhancing the overall quality of the end-product

Automotive Test Equipment Market Size Worth $3.2 Billion By 2027

The global automotive test equipment market size is expected to reach USD 3.2 billion by 2027, registering a CAGR of 4.5% over the forecast period, according to a new study conducted by Grand View Research, Inc. The market is experiencing substantial growth ascribed to the utilization of electronic components in modern vehicle. Testing tools are used to perform vehicle performance test to ensure maximum vehicle efficiency.

In addition, the equipment is also used for measuring the engine oil consumption, engine wear, clogging of after-treatment systems, lubricant aeration, fuel dilution, and evaporation. Manufacturers are increasingly focusing on implementing safety features in vehicles. Moreover, the rising safety consciousness among the consumers has resulted in stringent need for quality check, thus driving the demand for improved testing tools. All the aforementioned factors are anticipated to drive the market over the forecast period.

Governments across the globe have drafted stringent regulations with objectives of limiting emission from vehicles and to maintain passenger and vehicle safety. Furthermore, the upsurge in the adoption and production of the electric vehicle across the globe is anticipated to surge the demand for advanced testing tools to ensure vehicle performance and passenger safety.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/automotive-test-equipment-market

Further key findings from the report suggest:

  • The market is driven by the rising demand for safety and comfort features within the vehicle
  • Increasing production volumes of both commercial and passenger vehicles are anticipated to drive the market by 2027
  • The Chassis dynamometer segment accounted for highest market share in 2019
  • The vehicle emission test system segment to witness fastest growth rate by 2027 ascribed to the rising concern regarding the vehicle emission
  • Handheld scan tools held largest market share in 2019. However, mobile device-based scan tools are expected to account for fastest growth rate owing to ease of handling and ability to detect errors better than handheld tools
  • Asia Pacific is anticipated to register a fastest growth rate during the forecast period
  • Growth in the automotive production coupled with high demand for advanced testing tools for vehicles from China and India to catapult market growth.

Paint Protection Film Market Worth $484.7 Million By 2027

The global paint protection film market size is projected to reach USD 484.7 million by 2027, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 6.9% over the forecast period. Rising consumer awareness regarding vehicle paint protection against bug splatters, stone chipping, and abrasions is anticipated to fuel the demand for paint protection film (PPF).

paint protection films market is moderately fragmented in nature and is moving towards consolidation. Abundant availability of raw materials and presence of several major players with adequate production capacities have resulted in an increased competition among the players. Product durability, price, and environment friendliness are estimated to be the key factors influencing buyer decision.

The product is widely available on retail as well as online platforms. However, its installation requires expertise and specially trained personnel for optimum results. Hence, a majority of players also provide after-purchase services. Furthermore, a few players have established contracts with local installers to strengthen their geographical presence.

Frequent variations in raw material pricing and declining automotive production in major economies including U.S., Japan, and Korea are expected to act as a challenge for market players. However, rapid growth of other application sectors including electrical and electronics and aerospace is likely to open new avenues for them.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/paint-protection-film-market

Further key findings from the report suggest:

  • In 2019, the automotive and transportation segment dominated the paint protection film market in terms of volume, wherein a majority of the demand is derived from the passenger cars segment owing to the superior color protection properties of PPF
  • In terms of value, the aerospace and defense segment is estimated to register a CAGR of over 12.0% over the forecast period. This is attributed to increasing investments in the aircraft and defense sectors in China, U.S., and India
  • Asia Pacific dominated the market with USD 109.5 million in 2019 since it is the largest producer and consumer of automotive as well as electrical and electronic products
  • Key players operating in the market are 3M Company; Eastman Chemical Company; KDX Composite Material; XPEL, Inc.; and Avery Dennison Corporation
  • Mergers, integrations, tie-ups with third-party installers, innovative manufacturing techniques, and wide distribution channel are projected to be the key success factors for manufacturers to sustain competition.

Magnesium Alloys Market Size Worth $6.6 Billion By 2027

The global magnesium alloys market size is expected to reach USD 6.62 billion by 2027 registering a CAGR of 9.9%, according to a new report by Grand View Research, Inc. Increasing magnesium content per vehicle is projected to drive the demand of magnesium alloys products over the next forecast period.

Auto manufacturers are now shifting to lightweight materials, such as magnesium, aluminum, and composite materials, to reduce the emissions from vehicles. Rising preference for fuel-efficient vehicles is projected to boost the usage of such lightweight materials, thereby augmenting the product demand.

In terms of mass, magnesium is the lightest metallic material used in the die casting process. Magnesium alloys have 30% lesser density than aluminum, which boosts their usage in vehicles and aerospace applications. Also, as compared to aluminum and steel, these components can save nearly 25 to 40% and 55% of weights respectively.

Aerospace & defense sector is projected to provide numerous growth opportunities for the market as the product is widely used in airplane structures. China is a key producer of magnesium and accounted for more than 80% of the production in 2018, as per data published by the United States of Geological Survey. However, recent outbreak of coronavirus disease (COVID-19) is projected to hinder market growth in the country.

Numerous companies and research institutes are investing in R&D for the development of advanced products. This is likely to have a positive impact on the market growth. For instance, in July 2019, Monash University found a technique that can be useful in producing lightweight and stronger alloys for automotive and aircraft applications.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/magnesium-alloys-market

Further key findings from the report suggest:

  • The automotive & transportation was the largest application segment in 2019 and is likely to expand further at the fastest CAGR during the forecast period
  • The growth of the segment is attributed to incessant production of vehicles and increasing magnesium content per vehicle
  • Asia Pacific held the highest volume share in 2019 and is projected to maintain its position during the forecast period
  • Rapid expansion of the automotive sector and increasing demand for electric vehicles (EVs) are anticipated to remain key drivers for the regional market
  • Key vendors in the global market are Magontec Ltd.; Magnesium Elektron Ltd.; Ka Shui International Holdings Ltd.

Thermal Ceramics Market Worth $7.01 Billion By 2027

The global thermal ceramic market size is expected to reach USD 7.01 billion by 2027, expanding at a CAGR of 7.1% over the forecast period, according to a new report by Grand View Research, Inc. Increasing demand for high-performance components in the transportation sector is anticipated to augment market growth over the coming years.

In the transportation sector, automobile and aircraft component manufacturers are the major consumers of thermal ceramics as they require lightweight, high temperature resistant, and flexible materials in producing high-performance engine and structural components. According to the Airbus, the number of commercial aircraft is likely to double, reaching 48,000 aircrafts worldwide by 2040, which, in turn, is expected to drive the demand for thermal ceramics over the coming years.

Asia Pacific emerged as the largest consumer of thermal ceramics in 2019 owing to growing demand for steel in the transportation, machinery, and automotive industries. Thermal ceramic is used as an insulation material for the lining of furnaces that are used in steel making processes. Asia has been the key producer of steel past many years. As of 2019, China was the largest producer of crude steel accounting for a volume share of 53.3% globally and India, Japan, and South Korea with 5.9%, 5.3%, and 3.8% respectively.

The Asian countries are inviting significant investments in their steel sector, which is anticipated to further increase their market share in the world. For instance, in September 2018, POSCO announced its plan to invest USD 40 billion by 2023 to upgrade its steel capacity in South Korea. Such initiatives by steel manufacturers are anticipated to augment the demand for thermal ceramics over the coming years.

Key players of thermal ceramics market include 3M; CeramTec; Dyson Technical Ceramics; FibreCast Inc.; Ibiden; Morgan Advanced Materials; Mitsubishi Chemical Corporation, LLC; Rauschert GmbH; and YESO Insulating Products. These companies are focusing on creating strong network by using various distribution channels and collaborating with dealers across the globe to ensure timely delivery of products.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/thermal-ceramic-market

Further key findings from the report suggest:

  • By application, the industrial segment accounted for the largest share of 66.3% in 2019 due to increasing use of thermal ceramics in heaters and furnaces as they control heat dissipation and reduce energy consumption during the manufacturing of steel and glass
  • The petrochemical and chemical application segment is expected to expand at the fastest CAGR of 7.0% over the forecast period. The growth is attributed to rising demand from the oil and gas industry, wherein thermal ceramics are used for the lining of boilers
  • Europe is anticipated to register a CAGR of 7.3% over the forecast period owing to growing transportation industry, wherein various components are manufactured using thermal ceramics due to their resistance to elevated temperatures
  • North America accounted for a share of 28.8% in 2019 on account of increasing number of infrastructure projects, which involve widespread usage of cement, glass, and metals
  • Thermal ceramic is gaining popularity over its counterparts due to rising concerns over environmental pollution and its properties, such as lightweight and high temperature resistance. It can withstand temperature ranging between 650oC to 1,600oC.

Bicycle Frames Market Size Worth $32.8 Billion By 2027

The global bicycle frames market size is expected to reach USD 32.8 billion by 2027, registering a CAGR of 6.1% over the forecast period, according to a new study conducted by Grand View Research, Inc. Bicycle frame is one of the key components while purchasing a bike. It plays an important role in the bicycle performance as it influences weight balance of the vehicle. Aluminium and steel were the most preferred materials used for forming the bicycle frame traditionally. However, the development of modern composites is also leading to the adoption of materials such as titanium and carbon fiber to form frames in order to reduce the bike weight and improve the performance.

Bicycle demand is now gaining prominence after years of decline in demand mainly due to increasing influence of automotive industry. Rising adoption of bicycles as a mode of transport on account of their environmental and health benefits is anticipated to positively influence the market growth. Cycles are also widely used for recreational touring and sports activities. All the aforementioned factors are anticipated to supplement the market growth over the forecast period.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/bicycle-frames-market

Further key findings from the study suggest:

  • Road bike is the most basic type of bicycle and is expected to witness high market growth by 2027.
  • The market is expected to witness an increasing use of titanium and carbon fiber materials for manufacturing of frames over the forecast period
  • Carbon frames have gained immense popularity in the material segment. Carbon fiber material is known for its notable properties such as stiffness, lightweight, and high strength
  • Large concentration of manufacturers of bicycle frame in Asia Pacific is driving the regional demand
  • The growing trend for local distribution channel along with the rising labor cost in developing economies is driving manufacturers back to developed nations such as Europe and North America

Helicopter Simulator Market Size Worth $1.5 Billion By 2027

The global helicopter simulator market size is anticipated to reach USD 1.5 billion by 2027, expanding at a CAGR of 5.6%, according to a study conducted by Grand View Research, Inc. The growth of this market is attributed to the rising focus towards safety of pilots and passengers, and cost-effectiveness in training catering to high fuel prices and maintenance costs. Increasing need for advanced technology and features to precisely replicate ground and flying conditions for training is also expected the drive the growth of this market.

A helicopter simulator offers several cockpit features along with motion and visual systems within a helicopter shell for training. The device is equipped with advanced features like acceleration onset cueing, collimation, low latency, and Stewart platform. These features enable the device to recreate the environmental conditions like air density, wind shear, and turbulence, which assists the pilot to train under these conditions. This provides the pilot with realistic hands-on experience of handling and operating the aircraft, thereby resulting in increased adoption of the device.

Full Mission Simulators (FMSs) are equipped with features to deliver weapons and ammunition training to the aircrew, which results in the cost of training with actual weapons. FMSs are also capable of creating battle scenarios, which provides training in the detection and engagement of targets. Training on a machine that can simulate real-life situations, results in saving around 45-55 percent cost per hour as compared to training on an actual helicopter. Although, training on the machine is cost effective, the high initial cost of the machine is expected to pose a challenge to the growth of this market.

The military segment held the largest market share in 2019. This high share is attributable to increasing use of the aircraft in military operations. Military forces use machines that can simulate real-time situations for the pilots and train them for possible situations and services like transportations of troops, ammunition, and goods. The commercial segment is anticipated to witness steady growth owing to increasing use of the aircraft in medical emergency services and commercial flying. Rising demand for trained pilots for mail services and business travelling is also expected to propel segment growth in coming years.      

Click the link below:
https://www.grandviewresearch.com/industry-analysis/helicopter-simulator-market

Further key findings from the report suggest:

  • High adoption of full flight simulators is expected to drive the growth of this market owing to the motion and visual effects offered
  • Asia Pacific is anticipated to witness a healthy CAGR of over 5.0% over the forecast period owing to the increase in procurement of helicopters and training of pilots for military and commercial purposes. Additionally, North America dominates the current market with highest revenue share owing to the presence of some major companies in the region
  • The key market players operating in the market are focused on forming mergers and acquisitions. For instance, in March 2019, CAE Inc., announced the acquisition of Bombardier’s Business Aircraft Training Business (BAT). Through this acquisition, the company expects to expand its market reach in the aviation training business, which includes medium and large cabin business jets.

Automotive LiDAR Market Size Worth USD 223.2 Million By 2024

The global automotive LiDAR market size is expected to reach USD 223.2 million by 2024, according to a new report by Grand View Research, Inc. The surging acceptance of automobile safety application arenas and sophisticated technology incorporations in automobile driving automation are expected to boost the market growth. The increasing acceptance for semi-autonomous and autonomous cars in the years to come is further anticipated to bolster the market growth.

The market can be categorized, based on application types, into Advanced Driver Assistance Systems (ADAS) & autonomous cars. The ADAS application segment is further segregated into Automatic Emergency Braking (AEB) and Adaptive Cruise Control (ACC). The ADAS application segment is expected witness a significant growth, owing to the surging incorporation of forward-collision avoidance systems.Adaptive cruise control (ACC) is adiscretionary cruising choice for automobiles that robotically modifies the vehicle speed to retain a safe distance from vehicles ahead.The rising adoption of these systems in autonomous and semi-autonomous cars at various levels of automation is expected to draw huge ventures from the key participants, thus driving the regional market demand in the years to come.

In October 2016, Infineon Technologies AG (Germany) acquired Innoluce BV (The Netherlands), a fabless semiconductor company headquartered in Nijmegen. Infineon says it would develop chip components for high-performance LiDAR systems by utilizing Innoluce’s patented technology. This acquisition is expected to establish Infineon’s strong foothold as one of the automotive safety technologies vendors.

Click the link below:
http://www.grandviewresearch.com/industry-analysis/automotive-lidar-market

Further key findings from the report suggest:

  • The global automotive LiDAR market is estimated to grow significantly over the forecast period due to the automation in the car safety technology, leading to reduced human efforts and increased efficiency
  • Extensive R&D by market players,updated ratings of safety agencies and the increasing awareness, among consumers, have fueled the market growth assome major automakers have already started to integrate basic AEB systems as optional and standard options into their mass-market models
  • The markets in the North American region including the U.S. & Canada and the European regions occupied a marginal proportion of the market share in 2015 on account of the administrative regulations mandating the installation of certain automotive safety technologies in both light weight and heavy weight vehicles in the region
  • The key industry participants include Robert Bosch GmbH, Denso Corporation, Velodyne LiDAR, Inc., Novariant, Inc., LeddarTech, Continental AG, and Quanergy Systems, Inc.

Logistics Insurance Market Size Worth $61.55 Billion By 2025

The global logistics insurance market is anticipated to reach USD 61.55 billion by 2025, according to a new report by Grand View Research, Inc. The increasing foreign direct investment, establishment of free trade zones, and increasing globalization has resulted in the rapid growth of the transportation industry in the emerging countries. The logistics hubs and trade routes are gradually shifting toward the emerging market. Privatization of the transportation industry has further spurred the industry growth in China, Turkey, and India.

The adoption of digital technologies enables the company to tap new opportunities for additional premiums, better risk selection, increasing governance, and improved customer experience. Insurers across the globe are implementing newer technologies and adopting cloud- and mobile-based technologies to tap the growing demand in the emerging markets. Through various distribution channels, the insurance companies are modernizing the legacy applications.

The insurance companies are implementing mobility as a part of the business strategy, owing to the increasing usage of smartphones in both developed and emerging markets. Customers can easily request a policy quote, calculate premium, locate insurance agent, and store the policy data with the advent of the mobile apps.

The insurance industry comprises of structured and unstructured data. Big data analytics plays a vital role in the insurance industry that delivers significant Return on Investment (ROI) and cost savings. The rise in digital integration and digital customer relationship management is likely to spur the market demand over the forecast period.

Click the link below:
http://www.grandviewresearch.com/industry-analysis/logistics-insurance-market

Further key findings from the report suggest:

  • The increasing adoption of cloud- and mobile-based technologies to improve the customer experience
  • The transportation industry is anticipated to witness a significant growth with a CAGR of over 3.5% over the projected period
  • The maritime industry is anticipated to dominate the market in terms of revenue
  • The Asia Pacific region is anticipated to dominate the market in terms of growth rate over the forecast period
  • The rising financial asset and real estate values in the region are enabling the companies to have a higher premium volume
  • The market posesa rising competition that enable insurers to invest more in technological advancement to enhance the customer experience
  • The key players in the logistics insurance market include Integrity Transportation Insurance (U.S.), Liberty Mutual Insurance (U.S.), Peoples Insurance Agency (U.S.)