Why will Electric Scooters Market Boom in Europe in Coming Years?

A number of growth factors, such as the proliferation of electric two-wheelers in sharing services, rise in the traffic concerns in the region, focus on reducing greenhouse gas emissions, and implementation of stringent emission regulations, are expected to propel the European electric scooters and motorcycles market at a CAGR of 27.6% during the forecast period (2020–2025). According to P&S Intelligence, the market generated $284.2 million in 2019,which is projected to reach $758.5 million by 2025.

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The European electric scooters and motorcycles market growth is driven by the proliferation of electric scooters in sharing fleets in major European countries. This is due to the presence of several sharing service providers, with a large number of electric scooters in their fleets. For instance, France had around 2,560 electric scooters and Italy had about 1,225 scooters in their sharing fleets in 2019, which are expected to grow in the coming years. Thus, the increasing deployment of electric scooters for sharing services plays a pivotal role in the market growth.

According to P&S Intelligence, France recorded the highest sales of electric scooters and motorcycles in the recent past, due to the surging focus on reducing the emission of toxic gases. Whereas, Span will exhibit the fastest European electric scooters and motorcycles market advance in the foreseeable future. This will be due to the burgeoning demand for EVs, which is attracting electric two-wheeler manufacturers and mobility firms to set up manufacturing plants and enter into the scooter/motorcycle sharing business in the nation, respectively.

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Thus, the increasing shift toward energy-efficient vehicles and the growing prevalence of shared e-mobility services will accelerate the sales of these EVs in Europe.

OEMs Analysis

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E-Commerce in Automotive Aftermarket is Booming Worldwide in Coming Years

With rising digitization and the increasing popularity of online shopping, the companies selling automotive aftermarket parts and components are rapidly shifting their operations toward online portals. Moreover, nowadays, customers are increasingly preferring buying automobile parts from online portals over the conventional brick-&-mortar outlets, on account of the availability of a diverse product range, hassle-free and smooth transactions, and the timely delivery of products according to the consumer convenience in these online portals.

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Additionally, several e-retail companies such as Amazon.com Inc.,Wal-Mart Stores Inc., and Alibaba Group Holding Ltd. are increasingly selling automotive parts and components on their online portals. Many consumers have concerns regarding product specifications and automobile compatibility requirements and the services currently available in the aftermarket. Moreover, it is very difficult for customers to determine the cost of various automotive aftermarket services and products and their cost-effectiveness. This is further boosting the popularity of online shopping of aftermarket components.

The rising average age of automobiles, the expansion of the automotive aftermarket, and the increasing prevalence of road accidents are the other major factors fueling the sales of automotive aftermarket products via e-commerce platforms. This is, in turn, driving the progress of the market for global e-commerce in automotive aftermarket. The market valuation is predicted to surge from $38.2 billion in 2019 to $292.6 billion by 2030. Furthermore, the market will advance at a CAGR of 23.3% between 2020 and 2030.

Globally, the e-commerce in automotive aftermarket will register the fastest growth in the Asia-Pacific (APAC) region in the forthcoming years, as per the estimates of P&S Intelligence, a market research company based in India. This will be because of the soaring sales of vehicles in the developing countries of APAC. Furthermore, the increasing gross domestic product (GDP) and the rising disposable income of the people living in the regional countries are propelling the advancement of the market in the region.

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Hence, it can be said with certainty that the demand for the availability of automotive aftermarket parts and components at online portals will shoot-up in the coming years, mainly because of the increasing age of automobiles, the rising popularity of online shopping, and the soaring adoption of DIY methods across the world.

China Electric Bus Market Expected to Exhibit Huge Expansion in Future

On account of its high level of industrialization and vast population, China is the largest greenhouse gas (GHG) emitter in the world. As per the International Energy Agency (IEA), “…the emissions growth in 2018 was largely driven by non-OECD countries, led by China and India.”, reflecting why the country is now trying to bring a major reduction in these emissions. As a result of the continued government efforts, China has also become one of the largest producers and consumers of renewable energy!

Consistent with its efforts to clean up the country’s air, the People’s government has been offering strong support to electric vehicles (EVs) for quite some time. This is why P&S Intelligence says that the electric bus market in china will see176.4 thousand unit sales in 2025 compared to 104.3 thousand units in 2017, with the number increasing at an 8.6% CAGR between 2018 and 2025 (forecast period). China is already the largest EV user in the world, with the IEA saying in the context of electric buses for 2019 that “About half a million electric buses are in circulation, most of which are in China.”

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The three type of electric buses are hybrid electric bus, battery electric bus, and plug-in electric bus. Out of these, the largest demand was created for battery electric buses during 2015–2017 and the situation is projected to remain the same in the coming years as well, which is attributed to the increased government support for these buses. The fastest growth in demand is expected to be witnessed by the plug-in electric buses during the forecast period.

The two major battery types utilized in electric buses are lithium nickel manganese cobalt oxide (NMC) and lithium-iron-phosphate (LFP). Between these two, the largest demand was created for LFP during 2013–2017 and the situation is projected to remain the same in the coming years as well. The fastest growth in demand is expected to registered by the NMC battery type during the forecast period. This is attributed to the inclusion of these batteries in the subsidy scheme and the advantages that these batteries provide over LFP batteries, such as higher energy density and lower self-charge.

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Thus, with the government efforts to control air pollution, electric bus sales will keep rising in China.

Low Speed Electric Vehicle Market to Expand at a Healthy Growth Rate in the Coming Years

Due to the stirring conscience of people in the wake of the rapid deterioration of the air quality, the sale of electric vehicles (EV) is increasing around the world. Among the several types of EVs, those that have a lower speed, abbreviated as LSEVs, are gaining widespread popularity. These include two-wheelers, three-wheelers, and micro-cars, which are among the most affordable of all EVs, which is one of the key reasons behind their rising adoption, especially in emerging economies.

Thus, the low-speed electric vehicle market will grow from $35.2 billion in 2017 to $68.0 billion in 2025, at an 8.7% CAGR between 2018 and 2025. P&S Intelligence credits a multitude of factors for this growth, the most important being government initiatives. Around the world, governments have started implementing stringent policies to control emissions from internal combustion engine (ICE) vehicles and encourage the masses to shift to EVs. For instance, under the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME India), the government is offering purchase subsidies in the range of $370 to $910 (INR 25,000 to INR 61,000) for three-wheelers.

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Among the three major types of LSEVs, two-wheelers have dominated the transportation landscape around the world. These vehicles are being rapidly integrated into public sharing and food and grocery delivery fleets. Further, with efforts being taken to set up charging stations, even individuals have started purchasing electric scooters and motorcycles. Similarly, the sale of electric three-wheelers, especially e-rickshaws, is burgeoning, particularly in Asia. E-rickshaws, especially the plug-in type, don’t even require a proper charging station; they can be simply plugged into a domestic electricity socket. This advantage, coupled with the vast unmet need for cost-effective first- and last-mile transportation services, is driving e-rickshaw adoption.

This is one of the reasons that Asia-Pacific (APAC) has been the largest low-speed electric vehicle market almost since this concept was born. Most of the regional population still cannot afford ICE cars, let alone electric cars, which is why two- and three-wheelers have been an important part of the everyday life here. Additionally, with governments taking initiatives to make EVs affordable, the sale of electric scooters and e-rickshaws have been quite high. Moreover, APAC is also the largest producer of LSEVs and their components, including the motor and battery, which further makes these automobiles cost-effective.

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Hence, with governments around the world offering purchase subsidies on LSEVs, their adoption will keep growing.

Top Leaders of India Electric Vehicle Market and Business Strategies

The impactful government support and consciousness regarding environmental degradation will facilitate the Indian electric vehicle (EV) market growth during the forecast period (2020–2030). The central government is encouraging the adoption of EVs in the country by introducing policies like the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) scheme. Under this scheme, the government aims to replace 30% of the conventional vehicles in India with electric variants by 2030.To achieve this target, the central government is providing subsidies, incentives, and tax rebates to boost the production and adoption of EVs.

Moreover, the implementation of emission control norms, most recently Bharat Stage VI (BS VI), also plays a vital role in the Indian electric vehicle market growth. BS VI has the objective to cut down the nitrous oxides (NOx), particulate matter (PM), and hydrocarbon + nitrogen (HC+NOx) emissions from diesel vehicles by 68%, 82%, and 43%, respectively, beginning April 2020. Moreover, vehicles with petrol engines have to reduce their NOx emissions by 25%. These stringent laws have inspired automobile manufacturers to amplify the production of EVs and reduce the manufacturing of fuel-based vehicles.

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Currently, the Indian electric vehicle market is receiving huge funding, especially in start-ups, from public and private stakeholders. For instance, SmartE, an EV start-up, received INR 100 crore in July2019 from a Japanese trading house, Mitsui & Co, as part of Series B funding round. With these funds, the company is expanding its e-rickshaw fleet in Delhi and other major cities of the country. Moreover, in August 2019, Tata Power had announced plans to install 500 EV charging stations across India by 2020.

The vehicle type segment of the Indian electric vehicle market is classified into commercial vehicle, passenger car, three-wheeler, and two-wheeler. In 2019, the three-wheeler category accounted for the largest market share on account of the high demand for such automobiles to attain last-mile connectivity. Additionally, the leading players in the automotive industry are supporting the growth of this category by making huge investments in the development of new electric rickshaw models that are both affordable and efficient.

The battery type segment of the Indian electric vehicle market is bifurcated into lithium-ion (Li-ion) and lead–acid. Of these, the lead–acid category held the larger market share in 2019 owing to the lower cost of such batteries than Li-ion batteries. Further, the Li-ion category is expected to register significant growth during the forecast period due to the declining prices, increasing battery capacity, and lowering weight of Li-ion batteries. Additionally, these batteries are safer to dispose of, as they do not contain lead, one of the most-toxic substances on earth.

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At present, the Indian electric vehicle market is marked by players like Ashok Leyland Ltd., Hero Electric Vehicles Pvt. Ltd., Okinawa Autotech Pvt. Ltd., Toyota Kirloskar Motor Pvt. Ltd., Lohia Auto Industries, Ather Energy Pvt. Ltd., TVS Motor Co. Ltd., Saera Electric Auto Pvt. Ltd., Mahindra Electric Mobility Ltd., Terra Motors Corporation, Electrotherm (India) Ltd., Tata Motors Ltd., and Olectra Greentech Ltd. These companies register significant sales in the states of Uttar Pradesh, Punjab, Delhi, Haryana, West Bengal, Rajasthan, Tamil Nadu, Madhya Pradesh, Kerala, Maharashtra, Gujarat, and Karnataka.

Thus, the facilitative government regulations, increasing investments in the EV sector, and growing awareness regarding air pollution will the propel market growth in the forecast years.

Top Leaders of Wood Vinegar Market and Business Strategies

 The factors driving the growth of the global market include improved crop yield, increasing base of end-use industries, increased government initiatives for bio-based products, and stringent environmental regulations. The key trend witnessed in the global wood vinegar market is poverty alleviation. Wood vinegar can be produced at either small scale or large scale in villages, utilizing local resources and feedstock. Wood vinegar production is helping to reduce poverty in several developing or underdeveloped countries. The global wood vinegar market is at its nascent form.

Currently, very few players across the globe are involved in large scale production of wood vinegar. However, the distinct governments and organizations in several countries across the globe are framing regulations for bio-based economy and promoting bio-based products, which are supporting the growth of biochar production and biorefineries. As wood vinegar is a byproduct of char or biochar production, the government initiatives indirectly creates abundant opportunities for the growth of the wood vinegar market globally.

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Based on application, the agriculture segment dominated the global wood vinegar market during 2013-2015 in terms of value and volume, and it is expected to retain its dominance throughout the forecast period. The growth of agriculture application segment in the market is primarily driven by several advantages offered by wood vinegar in agricultural practices, such as root growth stimulation, improved seed germination, increased disease resistance in plants, and soil enrichment.

In 2015, Asia-Pacific held the largest share in the global wood vinegar market. The major reasons behind the growth of the market in the region are the large base of end-use industries and presence of a large number of local manufacturers in the region.

Among the various manufacturing processes, the slow pyrolysis manufacturing was the prominent process in the global wood vinegar market, during 2013-2015, in terms of value and volume of wood vinegar produced; also expected to retain its dominance throughout the forecast period.

Some of the major players operating in the global wood vinegar market are Ace (Singapore) Pte Ltd., TAGROW CO. LTD., Byron Biochar, Canada Renewable Bioenergy Corporation, NAKASHIMA TRADING CO. LTD., Nettenergy B.V., and Taiko Pharmaceutical Co. Ltd.

Top Leaders of Electric Vehicle Industry and Business Strategies

In 2019, the globe registered a sale of 2.1 million electric vehicles (EVs). Moreover, by the end of 2019, the global electric car fleet had surpassed 7.2 million units, but the outbreak of COVID-19 caused the sale to decline to around 1.8 million units in 2020. This was due to the economic uncertainties prevailing throughout the world. Preventive measures such as the restrictions on mobility and lockdowns led to a substantial reduction in the sales of EVs due to the reduction in EV production by 14–16% in 2020.

According to the COVID-19 impact analysis on the electric vehicle industry by P&S Intelligence, a significant reduction in crude oil prices also hurt the EV industry. Since the surging prices of oil supplemented the adoption of EVs, their decline acted as a big setback for EV component manufacturers and marketing companies. Original equipment manufacturers(OEMs) contracted their production capacity, as the economies of scale were highly bent against their favor. Due to the low crude prices, people again started to prefer traditional vehicles over EVs.

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This is credited to several factors such as huge cost reductions in electric vehicle manufacturing and the growing popularity of these vehicles across the world. Moreover, due to the mushrooming scale of battery manufacturing and rapid improvements in battery technology, the demand for plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs) would surge sharply. This is because these advancements would make the electric vehicles highly competitive, in terms of the total cost of ownership.

Despite these turbulences, EV manufacturers are optimistic that the industry will boom in the coming decade. The market will have significant opportunities for self-reinforcing cost reductions in EV production. Due to the decline in the production cost, plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs) will be able to compete with vehicles using an internal combustion engine, in terms of the total ownership cost. Additionally, with EV makers taking precautionary measures, such as increasing the frequency of sanitization in production units and work stations, social distancing within dealerships, and sanitizing the products to be delivered, the industry is projected to rebound.

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Therefore, the optimistic approach by EV manufacturers is expected to help overcome the obstacles emerging due to the COVID-19 outbreak.

India E-Rickshaw Market is Slated to Grow Rapidly in the Forthcoming Years with Top Leading Players

Even though the urban population of India is rising, the overall disposable income of cities isn’t, as most of the people are coming in from rural areas, therefore are plagued by perpetually precarious finances. As a result, the demand for cost-effective commuting options, especially for short distances, has perpetually been high in the cities and increasing still. This is why electric rickshaws (e-rickshaws) have become so popular in the last 5–6 years. For every km, a person has to merely pay INR 10, at which rate, the e-rickshaw driver earns INR 50 for traveling just 1 km.

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Therefore, due to the cost benefits of such vehicles for commuters, as well as drivers/owners, the Indian electric rickshaw market revenue is projected to grow from $786.2 million in 2019 to $1,394.2 million by 2025, at a robust 33.3% CAGR during 2020–2025. As per P&S Intelligence, another reason behind the increasing sale of such vehicles is the government support. Because electric vehicles (EVs) are costlier than their conventional counterparts, the government is offering strong support in the form of purchase subsidies, tax rebates, and reduction in the registration and licensing fees, to encourage their adoption.

Presently, Delhi is the most-prosperous region for Indian electric rickshaw market players. These vehicles first appeared in the city in 2012, and by 2016, there were over 100,000 of them on the roads. A key reason behind this urge has been the subsidy of INR 30,000 that the Delhi government has been offering on them. Moreover, in 2017, Delhi Metro Rail Corporation (DMRC) formally introduced these vehicles at stations, where their numbers are continuously swelling. Further, in February 2021, the Delhi government decided to replace its compressed natural gas (CNG) auto-rickshaws with electric variants.

Hence, with the continuous government support and rising need for first- and last-mile transportation in cities, the demand for electric rickshaws will keep rising in the country.

Adaptive Cruise Control: Key to Save Lives on Roads

The incidence of road accidents is growing across the globe, and it can be curtailed by integrating adaptive cruise control systems in vehicles. Road accidents are one of the prime causes of deaths across the world, claiming over 1.3 million lives each year, as per the World Health Organization (WHO). Globally, Africa registers the most road-traffic-related accidents, whereas the Asia-Pacific (APAC) region accounts for the second-highest cases of road accidents. To reduce their incidence, the demand for safety and comfort features has increased notably in the automobile industry, especially since numerous governments have made them mandatory.

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Automobile manufacturers are installing advanced driving assistance systems (ADAS), primarily the adaptive cruise control system, to enhance the vehicle efficiency and performance and prevent road accidents. Such systems slow down the vehicle if it comes too close to another object on the road and only allow it to accelerate once the path is clear. On account of these reasons, the adaptive cruise control market is expected to experience an increase in its revenue from $4.8 billion in 2016 to $15.3 billion by 2023. According to P&S Intelligence, the market will progress at an 18.3% CAGR during 2017–2023.

During the forecast period, the North American adaptive cruise control market is expected to showcase the fastest growth due to the implementation of strict safety norms in the region. Moreover, the increasing installation of these systems is an outcome of the growing concerns among consumers regarding road safety. To enhance the awareness among consumers, the National Highway Traffic Safety Administration (NHTSA) of the U.S. has initiated the United States New Car Assessment Program (USNCAP). Additionally, the advancements in safety features will enhance the rating of adaptive cruise systems, encouraging more people to go for them.

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Thus, the intensifying need for safety features in vehicles and amplifying support from the government will augment the adoption of adaptive cruise control systems in the foreseeable future.

ADAS Market is Booming Worldwide in Coming Years

Due to the rising demand for safety and comfort features in vehicles, owing to the swift advancements in technology, the demand for advanced driver assistance systems (ADASs) is predicated to boom in the coming years. The rapid advancements in the sensor technology have propelled innovations and developments in electronic equipment, which is promoting the adoption of advanced systems in vehicles, by various manufacturers across the globe. Furthermore, the enhanced comfort and support features provided by ADASs, such as parking aid and cruise control, are further boosting the demand for these systems.

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The mushrooming volume of sales of connected cars across the world, on account of the rapid technological advancements, is another major factor fuelling the growth in the demand for ADAS. Moreover, the rising regulations by various governments, especially the ones in developed countries, aimed at increasing vehicular safety, are further pushing the demand for ADAS. Due to these factors, the global ADAS market is expected to witness a massive increase in its value, not only in developed nations, but the developing ones as well.

Due to the increasing urbanization rate, and rising demand for high-end vehicles, due to the surging disposable income of people, the installation of ADAS is expected to grow the quickest in the Asia-Pacific (APAC) region, in the near future. In addition to this, the moderate number of sales of passenger cars in developed countries and the surging demand are expected to further boost the demand for ADAS in this region in the coming years.

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Therefore, due to the increasing demand for high-end vehicles, rapid advancements in technology that are powering the development of connected vehicles, which are equipped with numerous safety features, and rising implementation of vehicular safety laws and regulations by governments across the world, the demand for ADAS is forecast to surge in the coming years.

Razor Market to Witness Tremendous Growth Ahead Says P&S Intelligence

One of the major factors fuelling the surge in the demand for razors is the increasing focus on personal grooming across the world. Due to the rising influence of Western Culture, men in several countries around the world are increasingly becoming aware about their grooming and appearance, especially their beard and hairstyles. As a result, the footfall in the male-special spas and salons is rapidly increasing. According to The Proctor & Gamble Company, 39% and 43% of the men in the age groups of 25–34 and 18–24, respectively, prefer to have a clean shaven appearance.

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The other important factor pushing the demand for razors is the surging disposable income of the people throughout the world. In several countries, especially the developing nations around the world, the per capita income of the people has grown significantly over the last few years, owing to the sharp growth in the economy of these countries. This has increased the spending of people on personal grooming products such as razors, in many countries across the world.

Driven by the above-mentioned factors, the revenue generated from the worldwide sales of razors is expected to increase from $18.0 billion to $22.5 billion from 2019 to 2030. The global razor market is predicted to progress at a CAGR of 2.1% during the forecast period (2020–2030). There are various types of razors available throughout the world — disposable razors, safety razors, straight razors, cartridge razors, and electric razors. Amongst these, the cartridge razors are expected to record the highest sales in the coming years, owing to the easily replaceable quality of the blades used in these products.

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Globally, the Asia-Pacific (APAC) region is expected to observe the fastest growth in the usage of razor in the immediate future. This is mainly attributed to the fact that the APAC region is the most densely population region in the world and many countries in the region are observing rapid urbanization. In addition to this, the expenditure on personal care products is increasing rapidly in this region, which is in turn, boosting the sales of razors in APAC region.

Hence, it can be concluded that due to the rising preference of men toward personal grooming and the increasing disposable income of the people in several countries, the demand for razors will skyrocket throughout the world in the coming years.

Automotive Anti-Pinch Power Window System Market Expected to Exhibit Huge Expansion in Future

Automobile giants, such as Tata Motors, Audi, Honda, General Motors, BMW, Toyota Motors, Hyundai, Lexus, Mercedes-Benz, Volvo, and Land Rover, provide anti-pitch feature as an optional or standard offering in some of their car models. The increasing preference for luxury vehicles in emerging economies is expected to amplify the demand for anti-pinch power window systems by carmakers in the years to come. Additionally, luxury cars equipped with the anti-pinch feature are mostly produced for customers from developed nations, due to the high disposable income.

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In addition to the luxury cars, automotive manufacturers are also installing anti-pitch power window systems in small and medium segment cars, owing to the increasing demand for these systems in the entry-level and mid-priced vehicles from developing nations of South Africa, Brazil, and India. Moreover, the demand for these systems from the automobile sector is surging due to the increasing focus on advanced safety systems. Due to these factors, the automotive anti-pinch power window system market is expected to generate $3,611.2 million revenue by 2023, while showcasing a CAGR of 12.0% during the forecast period (2017–2023).

Additionally, stringent safety regulations laid down by various regulatory bodies across the world have led to the replacement of mechanical equipment with automatic components like anti-pinch widows. Automotive original equipment manufacturers (OEMs) and suppliers are focusing on enhancing the efficiency of the automobiles because of the increasing demand for advanced safety features from consumers. The automakers are constantly developing technically advanced and innovative safety systems and integrating these systems with vehicles to comply with safety standards.

Globally, North America and Europe collectively accounted for majority share of the automotive anti-pinch power window system market in 2016. This is attributed to the rise of vehicle production and export, technological developments, surge in investments, and stringent safety legislations toward vehicle safety. Due to these features, the adoption of the anti-pinch power window systems is increasing tremendously in these regions.

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Thus, high usage of advanced safety systems in vehicles and stringent safety norms are expected to boost the usage of automotive anti-pinch power window systems during the forecast period.

 

Why will Automotive Telematics Market Boom in Germany in Coming Years?

The rising demand for smoother road traffic and safer driving is fueling the popularity of automotive telematics solutions in Germany. Road traffic jams, deaths, and serious injuries are some of the undesirable outcomes of road travel. Moreover, human error is the leading cause of road accidents and crashes. Human drivers are more likely to make errors such as the speeding and the inability to accurately gauge the safe distance from the front vehicle and the surroundings than advanced technology-based systems.

As per the provisional results of the Federal Statistical Office (Destatis), more than 1,281 deaths were recorded in Germany during the first six months of 2020. This can be significantly reduced with the integration of various telematics solutions in vehicles. These solutions provide a very safe driving experience to drivers. Besides these factors, the increasing enactment of favorable government policies regarding the adoption of telematics in vehicles in the country is also fueling the demand for these solutions.

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Due to the above-mentioned factors, the popularity of automotive telematics is rising rapidly in Germany. This is causing the expansion of the German automotive telematics market. As per the estimates of P&S Intelligence, a market research company based in India, the market value would grow from $1,408.2 million in 2019 to $7,748.0 million by 2030. Additionally, the market is expected to register a CAGR of 16.5% from 2020 to 2030.

The most widely used products in the industry are integrated, tethered, and embedded. Amongst these, the usage of the embedded telematics solutions was observed to be the highest in the past years and this trend is likely to continue in the coming years as well. This is ascribed to the various regulatory mandates that are being implemented in the European Union (EU). The growing requirement for cloud-based services is also propelling the demand for these solutions.

Besides the aforementioned factors, the rising demand for the cost optimization of various service plans is also fueling the popularity of embedded telematics solutions. Remote diagnostics, safety and security, fleet/asset management, infotainment and navigation, insurance telematics, and vehicle-to-everything (V2X) services are the most widely used telematics services in Germany. Out of these, the requirement for safety and security telematics services is predicted to rise rapidly in the country in the forthcoming years.

One of the major trends currently being observed in the German automotive telematics market is the growing incorporation of telematics solutions in off-highway automobiles. The improved efficiency and productivity of these automobiles, the rising requirement for off-highway automobile data analysis, and the growing need for reducing the operational costs usually associated with their maintenance and repair are the other important factors pushing up the popularity of automotive telematics solutions in the country.

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Hence, it can be said with certainty that the demand for automotive telematics solutions would surge in Germany in the upcoming years, primarily because of the growing incidence of road accidents and the rising requirement for advanced and safer driving solutions in the country.

Electric Scooters and Motorcycles to Dominate Indian Roads in Coming Years

India is amongst the most polluted countries all across the globe, owing to which, the concerns regarding the environment have been surging. The Indian government has started taking initiatives for somehow curbing the rising air pollution levels. One of those measures is the encouragement to adopt electric vehicles instead of conventional ICE vehicles. Subsidies and tax rebates are being provided to the people who opt for electric vehicles. Other than electric cars, the demand for electric scooters and motorcycles has also considerably increased in the country. 

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Owing to this, the Indian electric scooter and motorcycle market is projected advance at a robust volume CAGR of 57.9% during the forecast period (2020–2025), as per a report by P&S Intelligence. The number of electric scooters and motorcycles sold in 2019, in India, was approximately 152.0 thousand, which is predicted to reach 1,080.5 thousand units in the end of 2025. Moreover, the retail sales value is projected to increase to more than $1.0 billion by 2025, with a 63.9% CAGR during 2020–2025. 

Between scooters and motorcycles, the demand for electric scooters has been higher in the country, and the requirement for these vehicles is further expected to be higher in the near future as well. Electric scooters have low cost and are available in a wide variety. Their increased availability as a substitute for the traditional fuel-based mopeds is also expected to lead to their high demand in the coming years. 

These vehicles make use of Li-ion and SLA batteries for operating. The demand for Li-ion batteries is predicted to increase significantly in the years to come, owing to their reducing prices and increasing government incentives on the purchase of these batteries. Over the last 10 years, the prices of these batteries have fallen down at a rate of 20%, each years. The price for these batteries is further predicted to continue to fall down at an approximate rate of 10% annually, in the next five years. 

Owing to the swift growth of the online retail domain in India, the sales of electric scooters via online channels is projected to increase considerably in the near future. The growing internet penetration, rising popularity of electric two-wheelers among youngsters, ease and convenience of shopping through online channels, and rising consumer confidence when it comes to buying from online platforms is predicted to drive the demand for electric scooters and motorcycles in India. 

Geographically, the Indian electric scooter and motorcycle market is being dominated by Uttar Pradesh, and the state accounted for about 15% volume share of the market in 2019. The demand for low-speed electric scooters is majorly rising from tier 3 and tier 2 cities in the state. Moreover, the rising focus of original equipment manufacturers towards increasing their share by growing their dealer network is expected to lead to the growth of the domain in Uttar Pradesh. 

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Hence, the market is growing due to the surging air pollution levels and favorable government policies for the adoption of electric two-wheelers in the country. 

Soaring Popularity of Vehicular Safety Systems Fueling Demand for Automotive Camera Modules

The mushrooming sales of autonomous and luxury vehicles and the growing requirement for advanced safety systems and features are the main factors boosting the demand for automotive camera modules across the world. In addition to this, the enactment of the New Car Assessment Program (NCAP) is further fueling the sales of automotive camera modules. Due to the growing incidence of road accidents, the governments of many countries are implementing strict regulations that mandate the incorporation of safety features in automobiles.

Due to the above-mentioned reasons, the sales of automotive camera modules are rising rapidly, which is, in turn, driving the advancement of the global automotive camera module market. According to the estimates of the market research firm, P&S Intelligence, the market would register huge expansion from 2020 to 2030. The biggest application areas of these camera modules are park assist (PA), lane departure warning (LDW), blind spot detection (BSD), autonomous emergency braking (AEB), and adaptive cruise control (ACC).

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Globally, the automotive camera module market would register the highest growth in North America in the upcoming years, as per the estimates of P&S Intelligence, a market research company based in India. This is credited to the growing requirement for luxury vehicles and the increasing integration of advanced driver assistance systems (ADAS) in both commercial vehicles and passenger cars in the region. The industry would record the second-highest growth in Europe in the future years.

Hence, it can be said without any hesitation that the demand for automotive camera modules would shoot-up all over the world in the forthcoming years, mainly because of the growing popularity of luxury and autonomous vehicles and the rising adoption of ADAS in automobiles across the world.

On-Demand Logistics Services Tackling Consistencies in Shipping

Customers of the e-commerce sector are preferring fast shipping with competitive pricing, on account of their changing shopping patterns and expectations. This demanding delivery schedule challenges traditional logistics by creating the demand for same-day delivery, there by impelling e-commerce companies to update their business strategies. Several such companies are therefore opting for on-demand logistics services to manage the inconsistencies in shipping activities, preference of customers, and sudden need for bulk supply. Thus, the widening customer base will propel the on-demand logistics market at a CAGR of 21.1% during 2020–2030.

According to P&S Intelligence, the market stood at $9.1 billion in 2019, and it is expected to surpass $75.0 billion by 2030, on account of the rapid adoption of smartphones and penetration of the internet in emerging economies. Owing to these factors, developing countries are witnessing a surge in online shopping activities, which has led to the increasing adoption of on-demand logistics services. Moreover, the rising industrialization and urbanization rates and household income in such nations will amplify the online customer spending. The rising expenditure will ease the current logistical challenges, such as low vehicle usage rate, low profitability, and fewer bookings.

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Businesses across the world are also shifting to on-demand logistics as they are unable to enter into long-term contracts with logistics companies due to in consistencies in the shipping volume. The inconsistency can be owed to the low market demand, low production, and cost factors. Unlike traditional services, on-demand logistics services offer flexibility, as user companies are not bound by any contract, therefore can pay as per their exact requirements. Service providers either operate their own fleet or function in collaboration with a brokerage team to transport the freight.

Furthermore, online logistics companies provide on-demand transportation solutions for individual customers as well. These companies cater to all the goods movement in full-load as well as partial-load capacities at reasonable prices and convenient time. Unlike the convenient brokers offering transportation services, on-demand logistics service providers create the overall cost structure and charge based on the distance to be traveled. These services use light commercial vehicles (LCV) and medium/heavy commercial vehicles (M/HCV) to deliver goods to customers.

Globally, in 2019, North America observed the highest utilization of on-demand logistics services due to the strong presence of the transportation and logistics industry in the region. Most of the freight movement in this region, especially the U.S., is conducted by truckers. However, the escalating demand for trucking services in the logistics sector has led to driver shortages. This is, therefore, creating the need for developing more-effective logistics solutions to meet the demand–supply gap, which has eventually led to the quick penetration of on-demand logistics in the region.

In the coming years, North America and Asia-Pacific (APAC) will collectively dominate the on-demand logistics market. However, APAC is expected to be the fastest adopter of such services due to the existence of a large consumer base in India and China. Additionally, the rising customer awareness about more-convenient logistics options, growing e-commerce industry on account of the increasing usage of the internet and smartphones, and surging technological enhancements will accelerate the utilization of on-demand logistics services in APAC.

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Thus, the flexibility and cost-effectiveness of on-demand logistics services will increase their adoption in the coming years.

Dry Shampoo Market Set for Lucrative Growth in Future

Dry shampoo refers to the shampoo that cleans hair and reduces hair greasing without requiring water. It is mainly available in two forms all over the world namely aerosol spray and powder. Dry shampoo works by absorbing the oil present in the hair and the scalp. It makes the hair look fresh and shiny.With the growth of the fashion industry and rising fashion consciousness among people, the sales of dry shampoo are climbing all over the world. 

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Moreover, the emergence of advanced formula-based hare care solutions has made dry shampoo extremely popular among hair stylists and models. This is because the excessive usage of chemical hair stylers and conventional wet shampoo causes scalp issues and makes the hair dry and brittle, which subsequently leads to hair fall. As a result, hair stylists and individuals are increasingly preferring products such as dry shampoo that eliminate the requirement for excessive hair washing. 

Gluten free, all natural, and paraben free are the most commonly used types of dry shampoo around the world. Out of these, the usage of the paraben free shampoo was found to be the highest in 2016. Moreover, the sales of these products are predicted to be rise steeply in the coming years. Based on form, the dry shampoo market is divided into powder and spray categories. Of these, the spray category registered higher growth in the market over the last few years and is predicted to record higher growth in the future years as well.

The popularity of the spray dry shampoos has increased tremendously in recent times. This is because of the ability of these products to make the hair look stylish and shiny without washing. Moreover, these products are very handy and simple to use and are thus rapidly replacing the conventional shampoos. Globally, the highest usage of dry shampoo products was observed in North America in the past. However, in the coming years, the Asia-Pacific dry shampoo market will be the most lucrative, according to the forecast of the market research firm, P&S Intelligence. 

The main factors driving the advancement of the market in the APAC region are the increasing requirement of anti-hair fall and anti-dandruff dry shampoos, the rapid expansion of the cosmetics and hair care industry, the rising usage of hair care and styling products, and the swift growth of many retail channels in the region. In addition to this, the region is witnessing a drastic shift in fashion trends, which is contributing heavily toward the surge of the market in the region. 

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Hence, the market will demonstrate stable growth in the coming years, primarily due to the various advantages of dry shampoo over regular shampoo and the increasing requirement of advanced hair care and styling products across the world. 

 

Automobile Sector Undergoing Transformation with Telematics Solutions

The increasing requirement of enhanced safety features in automobiles is one of the biggest reasons responsible for the surging demand for automotive telematics systems across the world. Additionally, the rising demand for efficient road traffic systems is further boosting the progress of the automotive telematics market. Furthermore, the increasing prevalence of road accidents and deaths, especially in the U.S., China, and India is causing the growing integration of advanced security features and systems in automobiles all over the world.

The soaring popularity of connected cars is another important factor propelling the automotive telematics market growth. Owing to their ability to provide numerous advantages to the users such as vehicle-to-infrastructure (V2I) and vehicle-to-vehicle (V2V) interfaces, connected cars are being increasingly preferred by people in several countries around the world. In addition to this, the integration of advanced features such as roadside assistance, smartphone connectivity, traffic and collision warning, real-time traffic monitoring, and automobile diagnostics in connected cars contribute tremendously toward their growing popularity throughout the world.

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Due to the above-mentioned factors, the global automotive telematics market is predicted to advance at a CAGR of 16.6% during the forecast period (2020—2030). In addition to this, the automotive telematics market is expected to observe a huge increase in its valuation, from $27.7 billion to $149.9 billion during 2019—2030. Automotive telematics solutions are incorporated in both commercial and passenger vehicles. Between these, the commercial vehicles are predicted to register higher growth rate in the automotive telematics market during the forecast period, owing to the increasing utilization of cloud-based commercial fleet management solutions across the globe.

A key trend currently being observed in the automotive telematics market is the ballooning number of partnerships and collaborations amongst the various telematics systems providing companies, solutions providers, and original equipment manufacturers (OEMs) all around the world. For example, Avis Budget Group Inc. and Verizon Communications Inc. started a partnership with each other in December 2019 for developing an all-in-one digital travel assistant solution, using the latter’s countrywide 4G LTE network, solely for the clientele of Payless Car Rental Inc. and Avis Budget Group Inc.

Geographically, North America registered the highest utilization of telematics solutions in automobiles in 2019. Moreover, the region recorded the highest growth in the automotive telematics market in 2019 and this trend is predicted to continue during the forecast period as well. This is fundamentally due to the increasing integration of connected technology in vehicles in the region. However, the automotive telematics market is expected to register the fastest growth in the Latin America, Middle East, and Africa (LAMEA) region from 2020 to 2030.

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Thus, the incorporation of telematics solutions will increase massively in automobiles in the future years, primarily because of the increasing incidence of road accidents and deaths and the growing demand for enhanced safety features and systems in vehicles all over the globe. 

Shower Glass Door Market in Northen America to Boom in Coming Years

The North American shower glass door market generated a revenue of $3,493.4 million in 2020 and it is predicted to advance at a CAGR of 7.6% between 2021 and 2030. According to the forecast of the market research company, P&S Intelligence, the market will attain a valuation of $7,151.7 million by 2030. The major factors driving the market advancement are the rising urbanization rate, the growth of the real estate sector, and the expansion of the tourism and hospitality industry.

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The increasing urbanization rate is one of the major factors propelling the expansion of the market. In this region, the urban population has grown at an explosive pace over the last few years and this trend is predicted to continue in the coming years. As per the 2018 Revision of World Urbanization Prospects produced by the United Nations Department of Economic and Social Affairs (UNDESA), nearly 68% of the global population will live in towns and cities by 2050.

Moreover, North America is already the world’s most urbanized region, with as much as 82% of the global population living in various urban areas. With the surge in urban population and the steep rise in the disposable income of people, the construction of residential buildings is picking up pace, which is, in turn, fueling the demand for various bathroom components such as shower glass doors in the region. This is propelling the advancement of the market.

Besides the aforementioned factors, the boom in the real estate industry is also driving the progress of the North American shower glass door market. The provision of loans and lucrative funding such as Home Equity Loans and Line of Credit (HELOCS) is fueling the expansion of the industry. As per Forbes, $3.5 trillion was contributed by the industry to the total gross domestic product (GDP) of the U.S. in 2020. 

The North American shower glass door market recorded the highest growth in the U.S. in the past years. Moreover, the market will demonstrate the fastest growth in the U.S. in the coming years. This is ascribed to the fact that the urban population of the country has grown massively over the last few years, on account of the surging employment opportunities and disposable income of the people residing in the country. 

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Hence, it can be said with full confidence that the market will register huge expansion in the forthcoming years, mainly because of the rising disposable income of people and the increasing urbanization rate in the region. 

How Connected Cars Enhance Driving Experience?

The increase in the demand for connected cars is an outcome of customers’ desire for an enhanced driving experience and fewer road crash fatalities. The driving experience can be improved through the application of connectivity features offered by these new-age cars. The connectivity features offer solutions to problems such as roadblocks, scarcity of parking space, and traffic jams. The demand for personalized vehicles is witnessing a rapid increase in developing countries, including India, China, and Indonesia, where the road crash incidence is especially high.

In addition, owing to the introduction of the internet of things (IoT) and artificial intelligence (AI) in the automotive industry, the connected car market generated revenue of $72,499.2 million in 2019. The revenue is projected to reach $198,459.7 million by 2025, at a CAGR of 24.1% during 2020–2025.Such vehicles are a result of the technological developments in the automobile sector, which have led to its constant evolution. A car built to communicate with other systems and vehicles using specific software and devices is termed as a connected car. The connectivity allows the car to share data and internet access with devices inside and outside.

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In addition to offering connectivity solutions, such cars are effective in improving the security and safety of passengers, drivers, and pedestrians. Cars have become safer due to the application of technologies such as lane assist, automatic braking, and advanced driver-assistance systems (ADAS). These technologies are leading to a reduced incidence of road accidents, which kill over 1.35 million people annually, as per the World Health Organization (WHO). This is why the adoption of IoT-based connectivity solutions will generate a huge demand for connected cars in the years to come. The strict safety rules and rising awareness on the issue are expected to enhance the sales of connected cars with ADAS and IoT.

The North American connected car market generated the highest demand for connected cars in 2019. This can be attributed to the increasing integration of advanced technologies in passenger cars. The demand for connected cars in this region is also rising due to the support from the federal and state governments for the development of new and improved vehicles, increasing research and development (R&D) activities on advanced vehicles, and rising demand for a safe and efficient driving option.

According to P&S Intelligence, the Asia-Pacific region will witness a rapid increase in the adoption of connected cars in the future. This will be an outcome of the rising application of digital services, such as software updates and cybersecurity features, and increasing rate of connected device integration in passenger cars. The demand for connected cars will also be propelled by the alliances between non-automotive and automotive giants. These strategic alliances will lead to the development of communication infrastructure that complies with the government norms for vehicle data security.

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Thus, the automobile industry is on its way to technological advancements, with the incorporation of AI and IoT in passenger cars.

Steep Rise Expected in Global Sales of Sauces, Dressings, and Condiments in Coming Years

The increasing popularity of exotic dishes and international cuisines and surging disposable income of the people are the major factors responsible for the soaring demand for dressings, sauces, and condiments across the globe”. There has been a sharp rise in travel and tourism over the last few years and this has led to a huge rise in interaction between people of different cultures. This has massively increased the popularity of many regional cuisines and food items, that require sauces and dressings for their preparation.

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In addition to the above-mentioned reason, the increasing awareness amongst the people about different cooking styles and food preparation techniques is also causing increased sales of dressings and sauces all over the globe. Furthermore, people in several countries, nowadays, lead busier lives and thus, usually don’t get the required time for cooking meals. As a result, they either end up ordering fast foods or buying ready-to-eat food items which require the extensive usage of sauces, condiments, and dressings.

“The other major factor fuelling the need for sauces and dressings is the increasing preference for healthy snacks throughout the world”. Healthy sauces are often used in preparing these snacks, thereby boosting the demand for sauces across the world. Due to these drivers, “the global sauces market generated $115.3 billion revenue in 2017 and is predicted to attain a value of $143.9 billion in 2023”, advancing at a CAGR of 3.8% from 2018 to 2023.

Historically, “the APAC sauces market was dominated by Japan”. This is ascribed to the widespread usage of various types of sauces such as wasabi sauce, soy sauce, and teriyaki sauce in many traditional Japanese dishes and cuisines. However, despite these factors, “the market growth in this country will be outpaced by that in India in the upcoming years", as per the estimates of the market research firm P&S Intelligence, mainly because of the rising popularity of fast foods in the country.

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Hence, it can be safely said that the market will surge rapidly throughout the globe over the next few years, on account of the increasing popularity of international cuisines and exotic dishes and growing cultural exchange and tourism activities across the world.

How the Forklift Market Has Witnessed Substantial Growth in Coming Years?

Rising significantly from 2017, the share of the e-commerce sector in the total global retail sales reached 14% in 2018. Further, by 2021, almost 17% of the total retail sales across the world are expected to be made through online shopping channels. This is because such platforms offer customers the price flexibility and fast delivery service they are looking for.

This factor is expected to propel the global forklift market, which garnered $33,878.7 million revenue in 2019, to $42,519.4 million by 2030, at a 2.8% CAGR between 2020 and 2030. This is because, to meet the rising number of online shopping orders, e-commerce and logistics firms are focusing on increasing their operational efficiency by deploying such vehicles. In addition, with the shelf height increasing and aisle width decreasing at warehouses, new forklifts, especially designed for such constraints, are witnessing rising sales.

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Like companies across various other sectors, forklift manufacturers are also subject to the ill-effects of the COVID-19 situation. Due to the ceasing of manufacturing activities, companies offering forklifts as well as their components would need to alter their strategies and come up with a more-efficient supply chain model. The ripple effects of the current shutdown in several countries are expected to be witnessed till at least the entire 2021.

During 2014–2019, class 5 forklift trucks generated the highest revenue in the industry, owing to their high popularity in emerging economies, such as China and India. They are preferred for heavy-lift applications, especially in places where the risk of tire punctures is high, as such vehicles have pneumatic tires. Their payload capacity is between 3,000 and 55,000 pounds (1,360 and 25,000 kg), which makes them suitable for heavy lifting.

Presently, Asia-Pacific (APAC) is the most lucrative market for forklift, due to the rapid growth in the automotive and retail industries in India, South Korea, Japan, and China. In addition, regional governments are implementing strict mandates for security and safety at the workplace, which is leading to the quick deployment of such trucks. In the years to come, the fastest rise in the adoption of forklift vehicles would be seen in the Latina America, Middle East & Africa (LAMEA) region, on account of the swift industrialization and popularity of the warehousing model.

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The most prominent players in the global forklift market include KION Group AG, Toyota Industries Corp., Hyster-Yale Materials Handling Inc., Jungheinrich AG, Mitsubishi Logisnext Co. Ltd., Crown Equipment Corp., Hangcha Group Co. Ltd., Anhui Forklift Truck Group Corp., Doosan Corp., and Komatsu Ltd.