Demand for Two-Wheeler Hub Motor Booming Globally

In 2019, there are more than 350 million electric two- and three-wheelers in operation around the world, according to the Global EV Outlook 2020 report of the International Energy Agency (IEA). Electric scooters and motorcycles are fast becoming the preferred alternative to those with an internal combustion engine (ICE) and even cars (for shorter journeys). Since electric vehicles (EV), especially battery electric vehicles (BEV), don’t contain an ICE, they release no operational emissions, which is why they are key to solving the air pollution and other associated problems, such as climate change and global warming.

This is why P&S Intelligence expects the two-wheeler hub motor market value to grow from $4,838.5 million in 2018 to $8,458.7 million by 2024, at a 9.8% CAGR between 2019 and 2024. This is because the motor is the most-essential component of any EV, along with the battery. In electric two-wheelers, the hub motor is integrated directly on the wheel axle, which negates the requirement for a gear system and chain drive. This not only means a simpler transmission assembly, but also higher efficiency, as the power loss that happens between the gear system and the chain is eliminated.

Thus, with the government support aimed at making EVs affordable for the masses, the demand for two-wheeler hub motors will increase. Presently, DC motors are integrated into two-wheelers in higher numbers than AC motors because the former are more efficient and easier to maintain. Additionally, DC motors allow for quick starting and stopping and better speed variation and produce a higher starting torque. Moreover, DC motors offer higher speeds, which is a key factor that encourages people to purchase electric two-wheelers.

Asia-Pacific (APAC) has been the most-productive two-wheeler hub motor market till now, as China is the largest producer of automobiles and their components in the world. Moreover, as per the IEA, of the 350 million electric two- and three-wheelers running on the world’s roads in 2019, 25% were in China alone! This is because China is notorious for its air pollution and smog, which have forced the People’s Government to take initiatives to reduce the amount of GHG emissions from vehicles.

Hence, as the sale of electric two-wheelers increases, so will that of hub motors.

How is Increasing Consciousness Regarding Physical Appearance Driving Razor Market?

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.

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.

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 the 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.

Demand for AI in Transportation Booming Globally

The advent of autonomous vehicles has led to the wide-scale integration of artificial intelligence (AI) technology in the transportation sector. AI is a primary technology for autonomous driving systems, as it is the only technology that allows real-time and reliable identification of objects around the vehicle. Owing to the burgeoning demand for autonomous vehicles, leading automotive original equipment manufacturers (OEMs) are making hefty investments in the advancement of autonomous technology for optimizing self-driving technology.

The integration of AI solutions aids in reducing costs and improves the operations of such companies. Additionally, the adoption of AI-enabled solutions, such as adaptive cruise control (ACC) systems and auto emergency braking (AEB) systems helps in reducing driver fatigue and preventing potential road accidents, thereby saving lives and curtailing product delivery times.

Besides, the increasing adoption of truck platooning will also fuel the integration of AI technology in the transportation sector in the coming years. Platooning is extremely necessary for achieving the objective of autonomous driving, and it offers several advantages such as curtailment in emission rates, reduction in fuel consumption, and improvement in safety features. In recent years, many countries have taken several initiatives to allow truck platooning to make road transport cleaner, safer, and more efficient in the future.

Therefore, with the escalating focus of governments and transportation companies on road safety, automotive OEMs, such as Scania Group, Continental AG, Volvo Group, Intel Corp., Daimler AG, NVIDIA Corp., Robert Bosch GmbH, PACCAR Inc., and Valeo SA are increasingly integrating AI solutions in their vehicles. To offer advanced technologies to their customers, such OEMs are primarily focusing on partnerships and establishing new research centers. For instance, in February 2018, NVIDIA Corp. and Continental AG announced a partnership to develop AI-supported self-driving vehicle systems based on the NVIDIA DRIVE platform, for level 3 autonomous vehicles. 

According to P&S Intelligence, North America will dominate the AI in transportation market in the foreseeable future, owing to the extensive sales of premium trucks in the region. The increasing regulatory developments related to compliance, safety, and accountability (CSA) and mounting investments being made in autonomous trucks in the U.S. will fuel the adoption of AI in the North American transportation sector in the coming years. For instance, the Automated Vehicles Comprehensive Plan developed by the U.S. Department of Transportation (USDOT) aims to prepare the country’s transportation system, promote collaborations and transparency, and modernize the regulatory environment.

Whereas, Asia-Pacific (APAC) is expected to integrate AI in the transportation sector at the fastest pace in the forthcoming years. This can be primarily attributed to the highest sales of trucks in the region and the rapid use of AI solutions in transportation in China and Japan. In the coming years, the transportation industry of Japan will adopt AI solutions at the highest rate, due to the maturing truck market of the country. Furthermore, China is also expected to integrate AI features in the trucks at a significant rate, owing to the growing digitization in the transport sector of the country. 

Thus, the rising focus of transportation companies and governments on reducing operational costs and surging adoption of truck platooning will augment the integration of AI technology in the transportation sector in the foreseeable future.

Demand for Indian ELV and Dismantling Market Predicted to Surge in India in Near Future

With the increasing environmental degradation, the government of India is implementing favorable regulations regarding the establishment of scrap yards, that can facilitate the transition from conventionally used vehicles to environment-friendly variants. Besides the Ministry of Heavy Industries & Public Enterprise and the Ministry of Steel, Ministry of Road Transport and Highways (MoRTH), several state governments are also enacting policies for regulating end-of-life vehicle (ELV). Furthermore, both central and state governments are promoting the adoption of good manufacturing practices (GMPs).

This is being done by encouraging the adoption of modern, eco-friendly, and state-of-the-art technologies. Ferrous scrap is the primary raw material required for induction furnace (IF)/electric arc furnace (EAF)-based steel. Because of this reason, metal scrapping facilities are increasingly being established all over the country. The framework and regulatory guidelines being implemented for the same include guidelines for assembling, shredding, and dismantling automobile in an organized, eco-friendly, and safe manner. 

Apart from the aforementioned factors, the regulatory authorities and the central and the state governments are rapidly shutting down unregulated scrap yards. This is further boosting the regulation of ELV and dismantling in the country, which is, in turn, propelling the advancement of the Indian end-of-line vehicle (ELV) and dismantling market. According to the findings of P&S Intelligence, a market research firm based in India, the market generated a revenue of $3,474.0 million in 2019. 

Furthermore, the market is predicted to advance at a CAGR of 17.2% from 2020 to 2030. ELV and dismantling yards are being built for promoting the recycling of both diesel and petrol-powered vehicles. Between the two, the requirement for the ELV and dismantling of diesel-powered vehicles is predicted to grow rapidly across the country in the coming years. This would be because of the large-scale usage of commercial vehicles, which usually run on diesel, in the country.

Out of the four-wheelers, three-wheelers, and two-wheelers, the four-wheelers would generate considerable demand for the regulation of the ELV and dismantling yards in the forthcoming years. This would be due to the increasing utilization of commercial and passenger vehicles, mainly because of the rapid economic growth and the soaring disposable income of the people residing in the country. Additionally, the growing popularity of ride-hailing services is fueling the demand for four-wheelers.

This is, in turn, boosting the requirement for proper ELV and dismantling techniques throughout the country. In India, the setting up of ELV and dismantling yards would rise explosively in the NCT of Delhi in the upcoming years. This would be a result of the increasing implementation of stringent regulations regarding the age of automobiles in the region. These policies are bringing down the maximum age of automobiles, which is, in turn, pushing the demand for scrapyards in the region.

Hence, it can be said without any hesitation that the demand for ELV and dismantling scrapyards would surge in India in the years to come, mainly because of the rising enactment of favorable government policies regarding the proper and eco-friendly dismantling of vehicles and the increasing deployment of passenger cars and commercial vehicles in the country.

India Two-Wheeler Sharing Market to Come Out Stronger in the Next 10 Years

With the surging number of vehicles such as buses, motorcycles/scooters, auto-rickshaws, and private cars on roads, road congestion is increasing rapidly in India. Moreover, due to the increasing number of vehicles, many urban cities such as Mumbai, Bengaluru, Chennai, and Delhi NCR are facing heavy traffic. This massively increases the commuting time of travelers, which, in turn, leads to huge financial losses for businesses. As a result, people are increasingly preferring two-wheeler sharing services for commuting.

These services are not only highly convenient for those wanting to travel short distances, but also reduce road congestion and improve the flow of traffic. Moreover, the surge in ridership over the last two years proves that these services are being increasingly used by daily travelers for reducing their travel time. In addition to providing greater convenience, these services eliminate the requirement for personal vehicles, which usually increase a person’s monthly expenditure, as additional expenses parking costs, maintenance costs, and insurance charges, are required for owning vehicles. 

Furthermore, scooter/motorcycle sharing services are found to be nearly 25–40% cheaper than conventional cab services. Due to these factors, the popularity of two-wheeler sharing services is growing rapidly in India, which is, in turn, fueling the expansion of the Indian two-wheeler sharing market. According to the estimates of the market research company, P&S Intelligence, the market revenue will grow from $31.1 million in 2019 to $94.0 million by 2025. Furthermore, the market is predicted to progress at a CAGR of 20.2% from 2020 to 2025. 

One of the major trends currently being witnessed in the Indian two-wheeler sharing market is the surging number of partnerships being launched among various two-wheeler sharing service providing companies. These partnerships are helping these companies gain an edge over their rivals and strengthen their industry position. For example, Uber Technologies Inc. (Uber), which is one of the major sharing service providing companies in India, launched a partnership with Yulu Bikes Pvt. Ltd. (Yulu) in May 2019 for providing bicycle sharing services to its customers.

Hence, it can be said with confidence that the demand for two-wheeler sharing services will shoot up in India in the coming years, primarily because of the greater convenience provided by them in comparison to private vehicles and the increasing road congestion in many cities.

Food Coating Ingredients Demand Expected to Shoot Up in Asia-Pacific in Coming Years

The mushrooming consumption of convenience foods is one of the major factors driving the demand for food coating ingredients. Due to the rising urbanization rate and busy lifestyles of people, the demand for ready-to-eat and convenience foods, such as nutrient bars, bakery and confectionary products, savory snacks, and cereals is rising. As food coatings are extensively used in these foods for mitigating the contact of the food item with the environment, the rising demand for convenience and ready-to-eat foods is fueling their sales across the world. 

In addition, the rising requirement for food protection agents is also propelling the worldwide demand for food coating ingredients. Poultry products and meat usually need food coatings in order to prevent adhesion, disintegration, or agglomeration. Moreover, coatings are also required in vegetables and fruits for mitigating the loss of moisture in them. Owing to these factors, these coatings are being increasingly used in large amounts in food items all over the world, thereby causing the expansion of the global food coating ingredients market.

Geographically, the sales of food coating ingredients are predicted to rise at the fastest pace in the Asia-Pacific (APAC) region over the next few years. This is ascribed to the soaring requirement for processed food items, mushrooming population, and the surging disposable income and changing lifestyles of people in the region. The food coating ingredients market is expected to exhibit rapid expansion in the emerging economies of APAC, such as Australia, China, and India, in the coming years.

Hence, it can be safely said that the sales of food coating ingredients will rise sharply in the coming years, mainly because of the growing consumption of ready-to-eat and convenience foods, on account of the increasing disposable income of people and their busy lifestyles and the ballooning requirement for food protection agents across the world. 

Automotive Cockpit Electronics Market is Expected to be on Course to Achieve Considerable Growth to 2030

Cockpit electronics are integrated into vehicles to improve the driving experience, offer safety and better controls, and provide convenience. Vehicle cockpits include the human–machine interface (HMI), which has either analog (levers and knobs) or digital (touchscreen) controls. Wi-Fi, global positioning system (GPS), CD players, advanced parking support systems, in-car telephone, climate control, rear display, in-car lighting, and wireless interface are some of the controls that are directly accessible from the automotive cockpit. The increasing adoption of such controls owing to the surging public awareness on vehicle safety will fuel the integration of automotive cockpit electronics worldwide.

Moreover, the increasing implementation of government regulations on passenger safety will contribute to the progress of the automotive cockpit electronics industry in the forthcoming years. For instance, the United Nations World Forum for Harmonization of Vehicle Regulations lays down the safety standards for motor vehicles and offers a legal framework that member nations may implement voluntarily. Automobiles that comply with these regulations are less likely to be involved in road accidents.

According to P&S Intelligence, North America dominated the automotive cockpit electronics market in the recent past due to the mounting investments and technological advancements in its automobile industry. For instance, Select USA states that the total foreign direct investment (FDI) in the U.S. automotive sector reached $114.6 billion in 2018. The automobile sector of the country is one of the frontrunners in innovation. As per Auto Alliance, approximately $18 billion is spent on research and development (R&D) in the automobile sector in the U.S.

Thus, the surging global focus on vehicle and passenger safety and escalating customer demand for an enhanced driving experience will boost the adoption of automotive cockpit electronics in the foreseeable future.