Why Are Automotive Ultrasonic Sensors Important for Vehicle Safety?

Automakers are incorporating ultrasonic sensors due to the growing concerns regarding vehicle safety, which have impelled governments to implement mandatory policies to install safety features such as park assist and self-parking. These advanced driver-assistance systems (ADAS) aid in the transition toward autonomous vehicles, by enhancing the comfort and driving experience. Hence, the shift toward autonomous vehicles will fuel the automotive ultrasonic sensors market growth at a CAGR of 5.1% during 2020–2030. According to P&S Intelligence, the market value will rise from $3,461.9 million in 2019 to $6,096.2 million in 2030.

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Currently, automotive component companies are continuously innovating and updating their sensors to meet the spurring demand from autonomous vehicle manufacturers. For instance, TDK Corp., in September 2019, introduced its new series of ultrasonic sensor disks. This product is based on ceramics, and it would aid in interior monitoring for anti-theft systems, park assistance, and level measurement for selective catalytic reduction (SCR) and fuel tanks.

Furthermore, Asia-Pacific (APAC) is expected to display the fastest growth in the global automotive ultrasonic sensors market throughout the forecast period. The APAC market is led by China, as it is a major hub for the automotive sector in the world. Automobile manufacturers of China are constantly working on achieving technological innovations in vehicles, so that they can be imparted with fully autonomous driving capabilities. Owing to these innovations, the country is expected to generate a high demand for automotive ultrasonic sensors in the coming years.

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Thus, the gradual shift toward autonomous vehicles and strong focus on vehicle safety has led to the large-scale adoption of ultrasonic sensors in the automobile industry.

 

Electric Vehicle Component Market Will See Strong Expansion Through 2025

The adoption of electric vehicles has been increasing swiftly among people since the past few years. This can be attributed to a number of factors, such as the surging air pollution levels, rapid decline of fossil fuels, and increasing awareness among people. In addition to this, governments across the globe are also offering a number of financial incentives, tax exemptions, and purchase rebates on the purchase of electric vehicle in order to encourage their adoption.

This growing demand for electric vehicles is further leading to the increasing requirement for electric vehicle components across the globe. In 2018, the worldwide electric car fleet reached over 5.1, rising by more than 2 million from the previous year. The fleet size is further projected to rise to 130 million by 2030. This kind of rise in the adoption of electric vehicles is bound to lead to high need for different electric vehicle components in the years to come.

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The global electric vehicle component market is expected to register a significant growth in the near future. The growth of the domain can also be attributed to the reduction in the prices of electric components. Since electric vehicles are supposed to play a major role in decreasing carbon emission levels, it is important that these vehicles become accessible to a larger number. Due to this, manufacturers in the automotive industry have been focusing on decreasing the cost of electric vehicle components for their wider adoption.

The electric vehicle component market is predicted to generate a revenue of $157.4 billion by 2025, increasing from $22.2 billion in 2018, advancing at a 29.4% CAGR during the forecast period (2019–2025). On the basis of component, the market is divided into vehicle interface control module, battery pack, thermal management system, motor, electric vehicle supply equipment, controller, power distribution module, high-voltage cable, and DC–DC converter. Among all these, the battery pack division held the largest revenue share of the market in 2018.

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In conclusion, the market is growing due to the rising adoption of electric vehicles and reducing prices of electric vehicle components.

Road Freight Transportation Market to Witness Tremendous Growth Ahead Says P&S Intelligence

The transportation of goods from one place to another has always been a matter of importance. People are mostly aware regarding home delivery of things that they order online, however, it is but a miniscule part of road transport or road freight. Goods are transported on a daily basis from industries to wholesale stores or retail stores, or from wholesale to retail stores. This transportation of merchandise and goods via road, using vehicles such as vans or trucks, is referred to as road freight. While goods can now be transferred via air or ocean transport, road transport remains one of the most common ways of delivering goods.

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Road freight is effective, efficient and significantly cheaper than air freight. Swift urbanization and expanding e-commerce sector are among the key factors resulting in the rising demand for road freight. As the spending ability of people and awareness regarding e-commerce services is growing, the need for efficient and faster delivery systems is also increasing. It is because of all these factors, that the global road freight transportation market is projected to progress at a considerable rate in the coming years. Medium & heavy commercial vehicles and light commercial vehicles are utilized for road freight services.

Between these two, the demand for light commercial vehicles is predicted to increase substantially in the near future, which can be ascribed to the growing adoption of such vehicles for transporting different kinds of consumer products, including food & beverages. Among the different industries, such as oil & gas, food & beverage, chemical, and healthcare, the largest demand for road freight transportation services was created by the oil & gas industry in the past. This is particularly attributed to the growth of the industry, which leads to a higher demand for crude and refined oil transportation.

Other than this, the demand for these services is expected to rise significantly from the food & beverages industry in the years to come. The income of middle-class population has been increasing on account of strong economic growth in several countries, which, along with the surging population, is leading to a rising need for eatables. Road freight transportation services are utilized widely for the delivery of food products from different places. Geographically, the Asia-Pacific region has emerged as the largest road freight transportation market in the recent years, owing to the favorable government policies in countries including China and India pertaining to the e-commerce industry.

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Hence, the demand for road freight transportation services is growing due to the expanding e-commerce industry and adoption of Industry 4.0.  

Increasing Smartphone Adoption Driving Online Automotive Component Sales

The world economy has gone global, and almost all the products are now available online. Keeping up with the practice of online shopping, the automobile industry has also gone virtual. Automotive e-tailing, a product of this new practice, refers to the selling of automotive components online. Components, such as tires and wheels, interior accessories, powertrains, infotainment multimedia consoles, and electrical and electronic products, can all be bought over the internet. The automotive e-tailing environment caters to the demand generated by the owners of passenger cars, two-wheelers, and commercial vehicles.

With a transparent logistics and distribution network, the demand for automotive components has increased in recent years. Owing to this exponential increase in demand, the automotive e-tailing market generated $26,064.0 million in 2016, and it will advance at a CAGR of 13.1% during 2017–2023,to generate over $59,4000.0million by 2023.The increasing penetration of the internet and growing shift toward online shopping have made automotive e-tailing vastly popular.

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The surge in the demand for vehicles has already led to an increasingsale of automobile components. With the easy availability of products, such as wheels and tires, on e-retail platforms, people are more frequently overhauling their vehicles in order to keep them running for a longer time. E-tailing offers the benefit of a hassle-free transaction and a wide range of options to choose from on a single platform. As a result, recent years witnessed a surge in the number of such portals, especially in the Asia-Pacific (APAC) region.

These portals are mostly operated by organized companies, which have a worldwide presence. Some of the major e-commerce companies offering automotive components are O'Reilly Automotive Inc., Amazon.com Inc., Advance Auto Parts Inc., eBay Inc., Alibaba Group Holding Ltd., Delticom AG, Flipkart, Robert Bosch, and Wal-Mart Stores Inc. Owing to the increasing demand for automotive e-tailing, these firms are focused on expanding their operational base through partnerships and geographical expansion.

Elsewhere on earth, the European automotive e-tailing market is growing because of the increasing number of component suppliers and rising number of internet users. Developed nations of Europe, especially Germany and the U.K. ,account for the most purchases of automotive aftermarket parts online. In the same way, an increase in the access to online services dealing with and stores offering automotive components will give impetus to automotive e-tailing in the North American region, with the maximum online sales of vehicle parts taking place in the U.S.

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Thus, the emergence of new online shopping platforms and rapid penetration of the internet will be the prime reasons leading to the increase in the sales of vehicle parts via e-commerce portals.

Chlorella Powder Ingredient Market | Insights on Strategies of Key Players

 Additionally, consumers in many countries are increasingly preferring natural cosmetic products over the chemical variants, which is, in turn, fueling the rise in the demand for chlorella powder ingredients. Besides this, the growth of the e-commerce industry, on account of the rising penetration of the internet, is also propelling the sales of chlorella powder ingredients. According to many surveys, there are currently over 3.47 billion internet users all over the world.

Due to the rising popularity of online shopping and the growing internet penetration, many businesses are increasingly focusing on selling their products via e-commerce platforms. These platforms have tremendous potential for transforming various industries such as nutrition and personal care. Moreover, these platforms provide a greater range of products, a hassle-free shopping experience, great discounts, price comparison, and online home delivery of products, which make them very popular among consumers.

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Apart from the aforementioned factors, the surging public awareness of health and fitness and the growing requirement for nutrient-rich supplements are also boosting the demand for chlorella powder ingredients across the world. Chlorella removes various harmful compounds from the body such as heavy metals like cadmium, mercury, and lead, which helps in the detoxification of the body. In addition to this, chlorella improves the immune system by stimulating antibody production in the body.

The chlorella powder ingredient market is categorized, on the basis of end-use, into cosmetics, animal feed, dietary supplement, and food & beverages (F&B). Out of these, the F&B category recorded the highest growth in the market in the years gone by, because of the widespread consumption of various chlorella-based food items and drinks around the world. The rapid rise in the number of people following vegan lifestyles also pushed up the global demand for chlorella powder ingredients.

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Market Segmentation by End Use

• Food & Beverages (F&B)
• Cosmetics
• Dietary Supplements 
• Animal Feed

Market Segmentation by Distribution Channel

• Supermarkets/Hypermarkets
• Convenience Stores
• Specialty Stores
• Pharmacies
• Online Platforms

Why Is E-Mobility Sector so Big in Asia-Pacific (APAC)?

In this era of continuous inflation, people are finding sharing things a better option than buying them. One of the aspects of daily life where this new ideology is the most visible is transportation. Instead of buying a car, scooter, or motorcycle, people around the world are opting for car rental, ride hailing, carsharing, and two-wheeler sharing services. Not only are these services convenient, but also available throughout the day, bookable via mobile apps. The popularity of these sharing services is due to the fact that the fuel, insurance, parking, and maintenance cost doesn’t have to be borne by riders, but the sharing service provider.

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And, just like consumers, even sharing service providers are now looking to cut their expenditure, which is continuously rising on account of the increasing gasoline and diesel prices. This is why they are integrating more electric vehicles (EVs) in their fleet, as the cost of using a vehicle charging facility is a lot less than that for diesel and gasoline. As per P&S Intelligence, this is why the global electric mobility services market will grow from $3,189.8 million in 2019 to $78,898.3 million by 2030, at a 40.7% CAGR between 2020 and 2030.

In this era of continuous inflation, people are finding sharing things a better option than buying them. One of the aspects of daily life where this new ideology is the most visible is transportation. Instead of buying a car, scooter, or motorcycle, people around the world are opting for car rental, ride hailing, carsharing, and two-wheeler sharing services. Not only are these services convenient, but also available throughout the day, bookable via mobile apps. The popularity of these sharing services is due to the fact that the fuel, insurance, parking, and maintenance cost doesn’t have to be borne by riders, but the sharing service provider.

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And, just like consumers, even sharing service providers are now looking to cut their expenditure, which is continuously rising on account of the increasing gasoline and diesel prices. This is why they are integrating more electric vehicles (EVs) in their fleet, as the cost of using a vehicle charging facility is a lot less than that for diesel and gasoline. As per P&S Intelligence, this is why the global e-mobility services market will grow from $3,189.8 million in 2019 to $78,898.3 million by 2030, at a 40.7% CAGR between 2020 and 2030.  

Growing Investments to Drive Second-Life Automotive Lithium-Ion Battery Market

 The global second-life automotive lithium-ion battery market generated a revenue of $430.0 million in 2019 and is predicted to reach a valuation of $7,392.0 million by 2030. According to the forecast of the market research company, P&S Intelligence, the market will advance at a CAGR of 23.1% from 2020 to 2030. The increasing deployment of electric vehicles in several countries and the high costs of the battery recycling processes are the main factors driving the advancement of the market.

The other major factor fueling the progress of the second-life automotive lithium-ion battery market is the rising deployment of electric vehicles (EVs) all over the world. The increasing concerns being raised over the rapid environmental degradation caused due to the usage of oil and gas-powered vehicles are propelling the sales of EVs across the globe. According to various reports, nearly 43% of the total greenhouse gas emissions are released by automobiles.

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The second-life automotive lithium-ion battery market is classified into lithium ferro phosphate (LFP), lithium-ion manganese oxide (LMO), lithium-nickel-manganese-cobalt oxide (NMC), lithium–nickel–cobalt–aluminum oxide (NCA), and lithium-titanate oxide (LTO). Out of these, the NCA category is predicted to exhibit the highest CAGR in the market in the forthcoming years. This will be because the NCA batteries offer higher energy density than the other variants and have excellent fast charging characteristics.

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Hence, it can be safely concluded that the market will exhibit rapid expansion in the coming years, primarily because of the rising requirement for lithium-ion batteries, on account of the ballooning deployment of electric vehicles around the world.

Opportunities for the Autonomous Car Market in the North American

Globally, the North American autonomous car market is categorized into Canada and the U.S. Of these two countries, the utilization of autonomous cars was higher in the U.S. in the past, as per the findings of P&S Intelligence, a market research firm based in India. This is ascribed to the higher customer preference for more advanced vehicles (cars having level 2 autonomy) over the traditional cars and the existence of numerous original equipment manufacturers (OEMs) in the country. These OEMs are rapidly developing vehicles possessing advanced automation features.

These vehicles have already been introduced in the market, which is why, their adoption is increasing in the region. Semi-automatic cars are further of three types, on the basis of autonomy level, namely level 1, 2, and 3. The adoption of level 1 semi-automatic cars has been the highest up till now. Apart from this, it is expected that the demand for fully autonomous cars will also increase in the coming years, which can be ascribed to technological advancements.

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The demand for autonomous vehicles in North America is projected to rise for both commercial and personal applications in the coming years. While personal application is leading presently, these vehicles are also projected to be used widely for commercial applications in the near future. The expansion of the sharing services domain is majorly responsible for the increasing demand for autonomous vehicles in North America. The rising availability of shared autonomous cars in North America is expected to change the car ownership scenario.

Geographically, the U.S. dominated the North American autonomous car market in the past. This is because of the presence of a strong consumer base and high number of original equipment manufacturers (OEM) in the country. OEMs are launching newer car models with enhanced level of automation, which is predicted to result in the growth of the market in the country. 15 states in the country enacted 18 autonomous vehicles related bills in 2018.

Hence, the market is growing due to the rising road accidents and increasing research & development activities in North America.