According to a new report published by Allied Market Research, titled, “Recreational Vehicle Market Demand," The recreational vehicle market was valued at $57.3 billion in 2021, and is estimated to reach $117.0 billion by 2031, growing at a CAGR of 7.6% from 2022 to 2031.
North America is expected to dominate the global recreational vehicle market. Recreational activities across North America have witnessed significant growth from previous years owing to changes in lifestyle and surge in inclination toward recreational activities. U.S. is expected to maintain its dominance during the forecast period owing to the changes in recreational industry outlook and changes in design consideration of the recreational vehicle.
Key players operating in recreational vehicle market are introducing new electric motorhomes recreational vehicle in the market which fuels the growth of the market. For instance, in January 2022, Thor unveiled an electric motorhome concept with 300 miles range. The Thor Vision Vehicle is powered by a high-capacity battery pack and an integrated fuel cell.
The global recreational vehicle market is experiencing growth, due to changing outlook of the leisure and recreational activities, surge in recreational vehicle rental services, and rise in electrification activities. However, fluctuating prices of raw materials used for manufacturing of recreational vehicles is the factor hampering the growth of the market. Furthermore, growing demand for technologically advanced recreational vehicles is the factor expected to offer growth opportunities during the forecast period.
COVID-19 Impact Analysis
The spread of the COVID-19 pandemic has positively impacted the global recreational vehicle (RV) market. Recreational vehicle industry observed rise in the sales of recreational vehicles during the pandemic period as people started to prefer staying in recreational vehicle such as caravans in comparison to hotels. For instance, the Recreational Vehicle Industry Association observed North American RV sales rose to 4.5% in 2020, to 424,400 units.
In addition, the recreational vehicle manufacturers faced a shortage in the supply of raw materials, owing to the pandemic quarantine measures and restrictions. Majority of the domestic market participants especially from North America and Europe depend on the Asia-Pacific countries such as China, Australia, and other countries for the supply of the raw materials. Supply chain disruption results to hamper manufacturing activities of the recreational vehicles, thereby resulted in delay in the production of recreational vehicles.
However, with the removal of lockdown restrictions, rise in the recreational vehicle rental services has been observed, which is expected to drive the growth of the market during the forecast period. Furthermore, post-pandemic, growing demand for technologically advanced recreational vehicles has also been observed, which in turn is expected to provide ample opportunities for the RVs market during the forecast period.
KEY FINDINGS OF THE STUDY
Key players operating in the global recreational vehicle market include Airstream, Coachment RV, Cruiser RV, Entegra Coach, Forest River Inc., Gulfstream Coach Inc., Jayco Inc, Newmar Corporation, Oliver Travel Trailer, Thor Industries Inc, Tiffin Motorhomes, and Winnebago Industries.
According to a new report published by Allied Market Research, titled, “Warehousing and Distribution Logistics Market Trends, by Type (Solution, Services), by Mode of Operation (Storage, Roadways Distribution, Seaways Distribution, Others), by End Use (Healthcare, Manufacturing, Aerospace, Telecommunication, Government and Public Utilities, Banking and Financial Services, Retail, Media and Entertainment, Trade and Transportation, Others), by Business Type (Warehouse, Distribution, Value Added Services): Global Opportunity Analysis and Industry Forecast, 2023-2032" The warehousing and distribution logistics market size was valued at $9.2 trillion in 2022, and is estimated to reach $18107.3 billion by 2032, growing at a CAGR of 7.6% from 2023 to 2032.
The booming e-commerce industry in the emerging economies such as India and China is expected to drive the growth of the market. In addition, increased adoption of outsourced logistics services and high government support for development of logistics infrastructure in the countries such as China, India, and Japan drives the growth of the warehousing and distribution logistics market size.
Additionally, the trend toward outsourcing logistics services allows businesses to focus on core activities while leveraging third-party providers' expertise and infrastructure. This shift boosts demand for specialized logistics solutions.
Government initiatives in countries like China, India, and Japan, such as investments in logistics infrastructure and supportive policies, further stimulate market growth. Enhanced infrastructure reduces transportation costs and improves supply chain efficiency, making it easier for businesses to scale operations and meet rising consumer expectations.
The Warehousing and Distribution Logistics Industry is experiencing robust growth driven by the surge in e-commerce, particularly in emerging economies like India and China, is a significant factor, as it heightens the demand for advanced warehousing and efficient distribution solutions to handle increasing order volumes and customer expectations for rapid delivery. The expansion of omnichannel retailing further accelerates this demand, requiring integrated logistics systems that seamlessly manage inventory across multiple sales channels.
Technological advancements of warehousing and distribution logistics industry, with automation, robotics, and artificial intelligence enhancing operational efficiency and accuracy in warehousing processes. Smart warehousing solutions, including real-time tracking and data analytics, are becoming essential for optimizing inventory management and reducing costs.
Furthermore, factors such as expansion of the e-commerce industry, surge in demand for warehousing and distribution logistics market growth, increase in volume of inventory are anticipated to boost the growth of the global warehousing and distribution logistics market trends during the forecast period. However, lack of control of manufacturers on logistics service and poor infrastructure and high initial cost of automated warehouses are expected to hinder the market growth.
On the contrary, increase in trend of automation in warehouses and rise in demand for express delivery are expected to offer remunerative warehousing and distribution logistics market opportunity for the expansion of the warehousing and distribution logistics market share during the forecast period.
The trend toward outsourcing logistics services is also notable, as businesses seek to capitalize on third-party providers’ expertise and infrastructure to streamline operations and focus on core competencies. In addition, high government support in countries like China, India, and Japan, through investments in logistics infrastructure and favorable policies, is further driving market growth by improving supply chain efficiency and reducing logistical bottlenecks.
These combined factors are propelling the warehousing and distribution logistics market analysis to new heights, with sustained growth anticipated as global trade and e-commerce continue to expand.
The warehousing and distribution logistics market forecast is segmented into end use, business type, mode of operation, type, and region. By end use, the market is divided into healthcare, manufacturing, aerospace, telecommunication, government & public utilities, banking & financial services, retail, media & entertainment, trade & transportation, and others. On the basis of business type, it is segregated into warehouse, distribution, and value-added services. Depending on mode of operation, it is fragmented into storage, roadways distribution, seaways distribution, and others. As per type, it is bifurcated into solution and services. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings of the Study
The key players that operate in this Warehousing and Distribution Logistics Market share are Agility, Ceva Logistics, CJ Century Logistics, CWT Ltd., DB Schenker, DHL Supply Chain, Gemadept, Keppel Logistics, Kerry Logistic, Kuehne+Nagel, Singapore Post, Tiong Nam Logistics, WHA Corp., YCH Group, Yusen Logistics, Manhattan Associates, Blue Yonder, Easy Metrics, TZA (Supply Chain 24/7), SAP SE, NextView, and Tecsys.
According to a new report published by Allied Market Research, titled, “Car Care Product Market Growth," The car care product market was valued at $13 billion in 2021, and is estimated to reach $22.6 billion by 2031, growing at a CAGR of 5.6% from 2022 to 2031.
The concept of car care product is typically attributed to high-quality chemicals that are used for better gloss, permanency, and shine of the vehicles. Several products such as polishes, waxes, tire cleaners, paint protection products, glass cleaners, and rim protectors are available in the market, which are used for car care services. These products majorly avoid and fix damages such as scratches to maintain the external look & improve the visual appearance. It also takes care of interior cleanliness and provides an aesthetic feel to the vehicle interior. At present, considering the success of e-commerce platforms and increasing consumer spending on car care products to maintain the aesthetics of a vehicle, many car care product manufacturers such as 3M, Illinois Tool Works, SONAX, and others, have adopted this strategy to sell their car care products through online platforms and retail stores as well. These manufacturers are not only selling their products through other e-commerce sellers such as Amazon and Flipkart but also through their indigenous websites.
In addition, the car care product market has witnessed significant growth in recent years, owing to the increased concerns related to vehicle’s cleanliness, restoration of old cars, and increased sales of used cars. Furthermore, the companies operating in the market have adopted partnerships, investments, and product launches, to increase their market share and expand their geographical presence. For instance, in March 2021, Chemical Guys launched the HydroView as its latest product in advanced ceramic protection for windows and windshields. It served as a hydrophobic two-in-one glass cleaner and ceramic coating protectant which allowed anyone to quickly clean and ceramic coat their glass windows and windshields.
The factors such as stringent government regulations to replace or upgrade vehicle components, growth of automotive after sale services, and adoption of ecommerce platforms by leading players supplement the growth of the car care product market. However, volatile prices of raw materials and usage of hazardous chemicals in car care products are the factors expected to hamper the growth of the market. In addition, rise in trend of vehicle customization coupled with increase in disposable income and development of anti-microbial car care products creates market opportunities for the key players operating in the market.
COVID-19 Impact Analysis:
The COVID-19 outbreak severely impacted the automotive sector on a global level, which in turn led to considerable drop in automotive sales, insufficiency of raw material, and others. Many small and big players in the automotive sector is witnessing issues such as a halt of production activities, mandated plant closures by the government, and others. As a result, the production of car care product witnessed decline due to the world's economic ecosystems. Furthermore, the overall auto industry, including members in value chain faced uncertainty in their respective businesses. However, the auto industry has shown tremendous resilience over the last few months. From the economic depths experienced in spring 2020, it has rebounded to deliver year-over-year growth in new-vehicle sales across China, Europe, and the US over the last few months. Similarly, the fastest recovery rates owing to the strict lockdowns and social distancing to contain the spread of the virus in some regions are also expected to boost the demand for the car care product industry.
KEY FINDINGS OF THE STUDY
The leading players operating in the car care product market are 3M, Adolf Würth GmbH & Co. KG, Amtra Sp. z o.o., ARMOR ALL, Auto Magic, Autoglym, Cartec BV, Chemical Guys, Illinois Tool Works Inc., Jopasu India Pvt. Ltd., Liqui Moly GmbH, MA-FRA S.p.A., Northern Car Care, Simoniz USA, SONAX GmbH, Tetrosyl Ltd., and Turtle Wax, Inc.
According to a new report published by Allied Market Research, titled, “Connected Truck Market Growth," The connected truck market was valued at $22.20 billion in 2021, and is estimated to reach $97.38 billion by 2031, growing at a CAGR of 16.1% from 2022 to 2031.
North America is expected to dominate the global connected truck market in 2021. The connected truck market in North America is anticipated to experience significant growth due to the incorporation of new telematics platform for safe and cost-effective fleet management and investment partnership between telematics and automobile insurance companies. In addition, incorporation of advanced telematics solutions by leading market players also fuels the growth of the connected truck market in North America.
The connected truck market will be affected by the recent trend of development of self-driving trucks. Top OEM’s such as Tesla, Volvo, Vera, and Daimler among others, have been developing self-driving trucks for the market. Startups such as Waymo, Einride, TuSimple, and others, have also started developing self-driving trucks. For instance, Tesla announced a plan to launch its self-driving electric truck by the end of 2022.
For instance, Waymo has started testing its self-driving trucks since January 2020. Similarly, TuSimple plans to operate autonomous trucking routes between Pheonix and Tucson in Arizona and some areas in Texas. Further, in May 2019, Einride started its testing for driver-less trucks. In January 2019, Daimler announced an investment of $570 million for self-driving trucks (Level 4). Thus, self-driving technology is expected to increase demand the for connected trucks and electric vehicles in the long run due to the various advantages such as reduced accident risk, easy use, and presence of value-added features among others.
The growth of the connected truck market is witnessing growth, due to increase in use of telematics in automotive sector, and ease of vehicle diagnosis. However, threat of cyber-attacks, and lack of uninterrupted & seamless internet connectivity are the factors hampering the growth of the market. Furthermore, development of self-driving trucks is the factor expected to offer growth opportunities during the forecast period.
COVID-19 Impact Analysis
The impact of the COVID-19 pandemic has resulted in supply-chain disruptions causing decline in the sales of automobiles, shortage of semiconductor components, and temporary shutdown of many production sites across the globe, which in turn impacted the demand for connected trucks. For instance, in 2020, global automobiles production recorded a drop of 16% in vehicle production.
In addition, several automobile manufacturers faced shortage of components such as semiconductor chips, and others, which further resulted in delay in production of connected trucks. Heavy-duty truck manufacturers are still struggling to keep up with demand as shortages of semiconductors and other parts curb production.
COVID-19 also impacted the production of trucks across the globe. It forced automobile manufacturers to temporarily shut down their production plants, owing to lack of workforce. For instance, in May 2020, Ford temporarily shut down its two separate production plants as the employees tested positive for COVID-19. One plant in Chicago that manufactures Ford Explorer, the Lincoln Aviator, and Ford Interceptor; and the second plant in Dearborn Michigan that manufactures F-150 pickup truck, were temporarily shut down.
However, with the easing of lockdown restrictions, several truck manufacturing companies has observed growth in the sales of truck and buses, which fuels the growth of the connected truck market during the forecast period. For instance, in 2021, Daimler Truck has reported 20% year-on-year growth in sales of truck and buses with 455,400 units sold across the globe.
KEY FINDINGS OF THE STUDY
Key players operating in the global connected truck market include AB Volvo, Borgwarner Inc. (Delphi Technologies Plc), Continental AG, Denso Corporation, Geotab Inc., HARMAN International, Magna International Inc., Mix Telematics, Robert Bosch GmbH, Sierra Wireless, TomTom International BV, Trimble Inc., Verizon Communications, and ZF Friedrichshafen AG.
According to a new report published by Allied Market Research, titled, “Automotive E-Commerce Market Demands," The automotive e-commerce market was valued at $38.67 billion in 2021, and is estimated to reach $176.24 billion by 2031, growing at a CAGR of 17.5% from 2022 to 2031.
Asia-Pacific is dominating the market in terms of revenue, followed by Europe, North America, and LAMEA. China dominated the automotive e-commerce market in 2021, whereas India is expected to grow at a significant rate during the forecast period. The rapid growth of the automobile sector across all segments along with surge in customer inclination toward advancements of the electronic accessories such as infotainment units, music system, and others fuel the growth of the automotive e-commerce market.
There are prominent key factors that drive the growth of the automotive e-commerce market, such as growth of automotive aftermarket services, advancement of multiple payment modes, and increase in penetration of internet & smartphones. The market economy is also responsible for the growth of the market. Countries such as China, India, Brazil, and South Africa are developing economies. Thus, the manufacturing sector witnessed prominent growth in these countries that is expected to provide lucrative opportunities for the growth of the automotive industry which in turn is anticipated to fuel the market. In addition, in some undeveloped countries, there is an increase in the aftermarket sales, which is expected to boost the market.
Automotive e-commerce market is segmented on the basis of components, vendors, vehicle type, operation, and region. On the basis of components, it is divided into informational & multimedia, engine component, tires & wheels, interior accessories, exterior accessories, and electrical products. By vendors, it is divided into OEM and third party vendors. By vehicle type, it is segmented into two wheeler, passenger cars, and commercial vehicles. By operation, it is divided into integrated transportation and warehouse. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
COVID-19 Impact Analysis
KEY FINDINGS OF THE STUDY
The key players that operate in this automotive e-commerce market are Advance Auto Parts, Alibaba Group, Amazon.Com, Inc., Arch Auto Parts, AutoAnything, Inc., Auto Zone, inc., CARiD, e-Bay Inc., Flipkart, JC Whitney, Napa Auto Parts, Pep Boys, RockAuto, LLC, Sears (Transform Holdco LLC.), Smart Parts Online Pvt. Ltd. (boodmo), Tire Rack.com, Inc., and U.S. Auto Parts Network Inc.
According to a new report published by Allied Market Research, titled, “Solar E-Bike Market Statistics ," The solar e-bike market was valued at $1.66 billion in 2030, and is estimated to reach $6.01 billion by 2040, growing at a CAGR of 13.7% from 2030 to 2040.
Solar e-bike is a type of bike that combines electric and solar energy to supply power to the vehicle for propulsion. It is one of the most eco-friendly innovations in the world along with convenient solar charging option, which offer a better option for charging solar electric bike batteries. At present, improvements in solar cell technology (nanocrystal solar cells), combined with ingenious placement of solar cells, offers convenient solar charging option by delivering opportunity for placing solar cells or solar panels on electric bikes to help charge batteries. For instance, Ele launched a solar e-bike with solar panels on its wheels that rotate 30 degrees on both sides, to face toward sun. This is to absorb as much sun-power that it can. This hybrid bike can be charged via electricity and the sun. Moreover, over time, various connectivity solutions have been developed by manufacturers and service providers to improve security, safety and serviceability of these bikes. For instance, in 2019, engineering and technology company Bosch, unveiled new Smartphone Hub for solar e-bikes which offers wide range of functions including everything from navigation, music control, fitness tracking, making calls, performing diagnostics on the solar e-bike and using smartphone services and apps such as Strava or komoot.
In addition, the solar e-bike market has witnessed significant growth in recent years, owing to the various initiatives by governments for adoption of small electric mobility is expected to create numerous opportunities for key players operating worldwide. Furthermore, the companies operating in the market have adopted several contracts, investments, and product launches to increase their market share and expand their geographical presence. For instance, in March 2022, the Indian Government has announced the setting up of solar thermal plants at major government hospitals & financial assistance for purchase of electric vehicles. The government proposes to set up concentric solar thermal plants at the GMC, Asilo and Hospicio (hospitals) to substitute the use of fossil fuels. Similarly, Sanyo (Japan) opened two solar parking lots in Tokyo where around 100 electric bicycles can be recharged from solar panels.
Factors such as positive government regulations and policies to encourage the use of solar e-bikes, increase in fuel costs, and rise in interest in cycling as a fitness & recreational activity is expected to drive the solar e-bike market growth. However, high purchase & and maintenance cost of solar e-bikes and low operating efficiency of solar e-bikes as compared to traditional bikes are some of the factors that hinders the market growth. Furthermore, technology advancement in solar e-bikes and improvement in the bicycle infrastructure are expected to offer lucrative opportunities for market growth.
COVID-19 Impact Analysis:
The COVID-19 crisis is creating uncertainty in the market. Governments of different regions have announced total lockdown and temporary shutdown of industries, thereby adversely affecting the overall production and sales. It also resulted in flight cancellations, travel bans, and quarantines, which led to massive slowing of the supply chain and logistics activities across the world. However, there are several sectors of the industry that are using this period as an opportunity for the development of their business. The solar e-bike industry is one of those industries that is projected for better growth post COVID-19. However, the sale of solar e-bikes was dampened in the first quarter of 2020, as bikes stores were closed due to lockdown. Owing to the COVID-19 pandemic, commuters are mostly avoiding the use of public transportation and solar e-bikes are considered a safe, convenient, and affordable alternative to public transportation. In addition, the pandemic has changed the way people commute, and bicycling has become even more popular around the world.
China has witnessed a growing demand in this field. For instance, according to the Ministry of Industry and Information Technology, China registered a surge in demand for solar e-bikes and reached the production at 25.48 million during the first 10 months of the 2020, a year-on-year increase of 33.4%. In addition, according to Taiwan External Trade Development Council (TAITRA), Taiwan records 21% increase in e-bike exports. Thus, according to International Nederlanden group (ING) report, there has been an increase in the number of people opting for e-bikes during the global health crisis and people are depending on electric mobility for emergencies such as food supplies or medicines.
Therefore, the solar e-bikes market is estimated to observe a huge boost in sales in post COVID-19 situation. However, post 2021, the market is expected to return to normalcy. The demand for solar e-bikes would grow at a moderate rate, considering the continuation of safer public and private transportation systems, such as metros, buses, and cab/ride-sharing platforms.
KEY FINDINGS OF THE STUDY
Accell Group, CSE EV Group Co., Ltd., Derby Cycle, Fuji-Ta Bicycle Co., Lt., Giant Group, Merida Bikes, Royal Gazelle, Trek Bicycle Corporation, Yadea Technology Group Co, Ltd., Yamaha Motor Corporation, Kona Bikes, The Sun Trip, Vintage Electric Bikes, Charge And Bottecchia Cicli S.r.l are some of the leading key players operating in the solar e-bikes market.
According to a new report published by Allied Market Research, titled, “Green Logistics Market," The global green logistics market was valued at $1.3 trillion in 2022, and is projected to reach $2.9 trillion by 2032, growing at a CAGR of 8.3% from 2023 to 2032.
Asia-Pacific currently dominated the green logistics market in 2022. This was primarily due to China is actively promoting green practices, investing in EVs and clean energy sources. Japan is a leader in green technology adoption, while India and South Korea are focusing on improving infrastructure and promoting electric vehicles. North America is the second largest market for the green logistic in 2022. North America is a prominent region in the green logistics industry, comprising the U.S., Canada, and Mexico. The region has been witnessing a growing emphasis on sustainable practices, driven by environmental regulations and the increasing awareness of carbon footprint reduction. The U.S. leads the green logistics market in North America due to its large economy and advanced transportation infrastructure. U.S. based private logistic companies have invested in sustainable logistic project. For instance, in March 2021, FedEx Corporation announced that it invested $2 billion to achieve carbon-neutral operations by 2040. The first investments are projected to be made in fleet electrification, carbon separation, and renewable energy.
Canada has also made significant strides in adopting green logistics practices, with a focus on alternative fuels and efficient supply chain management. For instance, in November 2022, Air Canada made an announcement regarding Bolloré Logistics, becoming the inaugural Air Canada Cargo customer to participate in the Leave Less Travel Program. This program provides corporate and cargo customers with viable choices to mitigate or minimize their greenhouse gas (GHG) emissions linked to business travel or freight transportation, thereby reducing their carbon impact. Bolloré Logistics has made a commitment to offset a substantial portion of its projected GHG emissions resulting from its shipments with Air Canada Cargo by utilizing sustainable aviation fuel (SAF). This commitment translates to the purchase of 620,000 liters of SAF in 2022. Mexico, although still developing its green logistics sector, has investing in renewable energy sources and sustainable transportation solutions.
Distribution is major segment of green logistics market. One of the primary drivers for the distribution segment of the market is the growing emphasis on environmental sustainability. Businesses across various industries are recognizing the importance of reducing carbon emissions and minimizing their environmental impact. Green logistics solutions, such as using electric or hybrid vehicles, optimizing transportation routes, and implementing eco-friendly packaging, help companies achieve their sustainability goals and meet the increasing demand for environmentally responsible supply chains. For instance, in May 2023, Bolloré Logistics, a subsidiary of Bollore SE, extended its fleet in India with a commercial electric vehicle. It is ideal for last-mile deliveries due to its high mobility and low carbon impact. Moreover, in June 2022. FedEx Corporation expanded its delivery fleet with the addition of 150 electric delivery vehicles from BrightDrop, General Motors (GM) technology startup that is decarbonizing last-mile delivery. These developments further boost growth of the green logistics industy.
Moreover, implementation of stringent environmental regulations drives the growth of green logistics market. The implementation of stringent environmental standards and policies by governments and regulatory bodies worldwide has become a key driver of the market. These regulations cover various aspects of logistics operations, such as emissions control, waste management, energy efficiency, and sustainable sourcing. To comply with these regulations, logistic companies are adopting green practices and technologies in their operations. Improving logistics performance has become a crucial factor in effectively integrating into global value chains, sustaining economic growth, and boosting national competitiveness.
With growing global environmental concerns, companies and policymakers are facing high pressure to reduce the negative ecological impact of logistics activities and make them more environmentally sustainable. Recent instances highlight these efforts, for instance, in April 2023, the U.S. Environmental Protection Agency announced new exhaust emissions rules, which require 67% of new vehicles registered in the U.S. to be all-electric by 2032. In line with the European Union regulations, specific carbon emission guidelines have been implemented for different vehicle categories. These guidelines require a 15% reduction in carbon emissions for new cars and vans by 2025, relative to the levels recorded in 2021. Furthermore, a target of 55% reduction for cars and 50% reduction for vans by 2030 has been set, with the ultimate aim of achieving a 100% reduction in emissions by 2035.
Moreover, value added services are additional features or standalone offerings that enhance the user experience or provide additional value to customers. In the logistics industry, companies offer green value added services such as eco-friendly picking, packing, and quality control processes to minimize environmental impact.
Insurance, on the other hand, is a contractual arrangement where an entity receives financial protection from an insurance company against losses. Within the green logistics market, cargo insurance plays a crucial role in safeguarding shipments from physical damage or theft. It covers any losses or damages incurred during transportation due to mishandling or other forms of harm. Common types of green cargo insurance include land cargo insurance for shipments transported on land, as well as marine cargo insurance for shipments transported via sea and air.
COVID-19 Impact Analysis
The COVID-19 crisis has created uncertainty in the market, owing to a massive slowing of the supply chain, falling business confidence, and increasing panic among the customer segments. Governments of different regions have already announced a total lockdown and temporary shutdown of industries, thereby adversely affecting overall supply chain operations. Countries around the globe have posed stringent restrictions ranging from days to months of lockdown periods. Owing to this pandemic, many businesses have been halted and are waiting for market conditions to improve. Attributed to the lockdown and social distancing impact, the demand for online retailing has increased compared to offline retailing. In addition, there has been increasing demand for healthcare and FMCG supplies such as hospital supplies, gloves, sanitizers, vaccinations, and perishable food items, propelling the growth of the green logistics during the pandemic.
KEY FINDINGS OF THE STUDY
The key companies profiled in the green logistics market report include FedEx Corporation, DSV, Agility Public Warehousing Company K.S.C.P. and Subsidiaries, GEODIS, Deutsche Post DHL Group., YUSEN LOGISTICS CO., LTD., Bollor SE, CEVA Logistics, XPO Logistics, Inc., and United Parcel Service of America, Inc.
According to a recent report published by Allied Market Research, titled, “Hoverboard Scooter Market by Type, Application, Sales Channel, and Speed Limit: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global hoverboard scooter market was valued at $0.78 billion in 2020, and is projected to reach $1.25 billion by 2030, registering a CAGR of 5.1%. North America was the highest revenue contributor, accounting for $0.27 billion in 2020, and is estimated to reach $0.40 billion by 2030, with a CAGR of 4.2%. Asia-Pacific is estimated to reach $0.29 billion by 2030, at a significant CAGR of 6.4%.
Increase in adoption of electric mobility solution pertaining to its low carbon footprints, continual changes in urban commute outlook, and inclination of millennial and Z generation toward these mobility equipment are the key driving factors of the global hoverboard scooter market. Moreover, the online sales segment is anticipated to create lucrative growth opportunities for the hoverboard scooter market, owing to its changing consumer preference toward the buying patterns and growing internet penetration. In addition, hoverboard scooters with the speed limit of less than 15 Kmh is expected to garner highest share in 2020, due to its wide range of applications and enhanced consumers safety while riding experience.
North America dominated the global hoverboard scooter market. The U.S. is expected to be a leader in the market during the forecast period. However, Asia-Pacific is expected to witness highest growth rate in the global market, owing to increase in requirement for urban commute solutions. The global hoverboard scooter market is a fairly fragmented market with several number of players. Majority of the market participants are strategically involved in product launch, product development, partnership, and expansion activities.
The spread of the COVID-19 pandemic has negatively impacted the global hoverboard scooters market, owing to commute restrictions, and is expected to weaken the financial performance of the market players in 2020. It has impacted the overall economy, and market participants are formulating strategic cost-saving plans. The major risk factors of the hoverboard scooters market participants are supply chain execution, regulatory & policy changes, dependency on labor, working capital management, and liquidity & solvency management.
KEY FINDINGS OF THE STUDY
Key players operating in the global hoverboard scooter market include Future Motion Inc., Halo Board, Hetechi Ltd., HoverRobotix, Inmotion Technologies Co., Ltd., Jetson Electric Bikes LLC, Shenzhen Gyroor Tech (China) Co., Ltd., Swagtron, Tomoloo Technology Industrial Co., Ltd., and Uboard India Limited.
According to a recent report published by Allied Market Research, titled, "Automotive Microcontrollers Market by Application, Technology and Vehicle Type: Global Opportunity Analysis and Industry Forecast, 2019–2026," the global automotive microcontroller market was valued at $9.06 billion in 2018, and is projected to reach $15.77 billion by 2026, registering a CAGR of 7.3%.
Asia-Pacific dominates the market, in terms of growth, followed by Europe, North America and LAMEA. China dominated the global automotive microcontroller market share in 2018, whereas India is expected to grow at a significant rate in the automotive microcontroller market during the forecast period.
Microcontrollers are compact integrated circuits, which are designed for a specific operation. With the introduction of automation in automobiles, microcontrollers find wide application in them to control various operations associated with autonomous vehicles, thus supplementing the growth of automotive microcontrollers. Automotive microcontrollers include various components such as processors, memory and input & output peripherals, which are integrated on a single chip and are deigned to operate automatic systems of vehicles.
Automotive microcontrollers are widely installed in autonomous and semi-autonomous vehicles that are now equipped with numerous automatic components, such as different sensors and automatic exhaust system. This installation of various products supplements the growth of automotive microcontrollers, thereby supplementing the automotive microcontroller market growth.
Current trend for installation of advanced components in vehicles has increased due to their efficient features, which has made them popular among vehicles. This has enabled electronic component manufacturers to develop better and effective microcontroller, which works efficiently thus increasing the automotive microcontroller market share across the globe.
Factors such as rapid development in the automotive industry and high demand for safety features drive the growth of the market. However, factors such as operational failure in extreme climatic conditions and high initial cost and complex structure is supposed to hamper the growth of the automotive microcontroller market. Further, the demand for electric and hybrid vehicles are expected to increase in the future and untapped regions are expected to create numerous opportunities for the growth and expansion of the market.
Key Findings of the Study:
The key players analyzed in this automotive microcontroller market report are Cypress Semiconductor Corporation, Infineon Technologies AG, Microchip Technology Inc., NXP Semiconductor N.V., On Semiconductor, Renesas Electronic Corporation, STMicroelectronic, Texas Instrument Incorporated, Toshiba Corporation and ROHM Semiconductors.
According to a recent report published by Allied Market Research, titled, “India Automated Guided Vehicle Market by Type, Navigation Technology, Application, Industry and Mode of Operation: Opportunity Analysis and Industry Forecast, 2020-2027,”the India automated guided vehicle market size was valued at $122.1 million in 2019, and is projected to reach $364.3 million by 2027, registering a CAGR of 14.4% from 2020 to 2027.
By mode of operation, the indoor segment dominates the India automated guided vehicle market presently and is expected to maintain its lead during the forecast period. However, outdoor segment is anticipated to exhibit remarkable growth rate during the forecast period.
Tow-vehicles are also called as tuggler vehicles. These types of automated guided vehicles (AGVs) are typically used to tow several wheeled carts that carry load. Generally, loads are placed on and off the carts manually or with the help of some other automated machines. Tow-vehicles are the most popular AGVs across the world as such vehicles are capable of pulling multitude of wheeled and non-powered trailer types with capacities ranging from roughly 2,000 pounds and more. Also, these types of vehicles are considered as the most economical solution as they can pull multiple loads in single trip itself. This results in increased productivity, which is driving the growth of the India automated guided vehicle market. Many companies offer customized solutions to cater to the needs of the customers. For instance, JBT offers customization option to its towing AGVs with several different types of hitch to best suit the type of operation and budget of the customer.
Unit load carriers are also called as top carriers. They are a wheel-based, powered transport vehicle with an ability to carry discrete load such as an individual item (such as automobile engine, large roll of a paper, coil of steel, and other) or items contained on a pallet or in a tote or similar temporary storage medium. With the help of unit load carriers, load transfer to conveyors or load stands is easily accomplished using roller decks or lift/lower decks, which is driving the growth of the India automated guided vehicle market. The unit load carriers provide excellent system versatility for product movement from point A to point B as they usually operate independently of one another and can easily pass each other to get to specific destinations, which boosts the market growth.
Laser guidance navigation technology AGVs are equipped with a navigation laser positioned on top of the pole that rests on the vehicle. This navigation device interacts with the targets that are positioned in the AGV working area. AGVs with laser guided navigation are easy and fast to install (no invasive installation, requires only placing of reflectors around the facility), and provide accurate positioning owing to which a higher vehicle speed is achieved. This is the reason behind high penetration of these navigation technology vehicles across all industry verticals. Moreover, no considerable maintenance cost is required as it only requires keeping the reflectors clean, which boosts the market growth further. However, laser guided navigation technology is generally expensive. Hence, innovations and economies of scale can bring down the overall cost of the setup, which is opportunistic for the key players operating in the India automated guided vehicle market.
Automated guided vehicles (AGVs) with magnetic guidance navigation technology, navigate with the help of magnetic tape placed on the floor and based on the location and route of the magnetic tape, AGV decides whether to stop, start, turn right, turn left, or to engage a trolley. AGVs with magnetic tape navigation technology are cheaper and easy to install. Also, they do not require highly skilled professionals to install the same, which drives the growth of the automated guided vehicle market in India. In addition, magnetic tapes are easy to modify and user can simply change the route, by removing the adhesive magnetic tape on the floor, thereby offering more flexibility, which is boosting the market growth. Further, development of magnetic tapes with prolonged life and less wear and tear capabilities creates numerous opportunities for the key players operating in the market.
Rise in demand for automation and automated guided vehicles in various industries drive the growth of the India Automated Guided Vehicle market. In addition, increased safety, accuracy, and productivity are anticipated to propel the growth of the market. However, high initial investment cost and lack of flexibility hampers the growth of the India automated guided vehicle market. Furthermore, incorporation of industry 4.0offers remarkable growth opportunity for the players operating in the India Automated Guided Vehicle industry.
Key Findings Of The Study
On the basis of type, the assembly line vehicle segmentis anticipated to exhibit a remarkable growth during the forecast period.
On the navigation technology, the laser guidance segment is the highest contributor to the India automated guided vehicle market in terms of revenue.
On the basis of industry, the logistics industry is the fastest growing segment during the forecast period.
The key players analyzed in this India automated guided vehicle report are Alstrut India Private Limited, Ati Motors Pvt. Ltd., Conductix-Wampfler, GreyOrange, Konecranes, KUKA AG, Seegrid Corporation, Swisslog, The Hi-Tech Robotic Systemz, Toyota Material Handling India, and others.