Off the Road (OTR) Tire Market value projected to expand by 2018 – 2026

Growing urbanization and sustained investments in construction are driving the usage of construction vehicles, thus boosting the demand for OTR tires. The Trump government has set plans for an infrastructure investment of US $ 1.7 Trn to develop rural infrastructure, highways and bridges.

The EU–China deal, named Belt and Road Initiative, of US$ 9 Bn to construct an intercontinental highway is expected to drive the demand for construction vehicles, thereby boosting the demand for OTR tires. Increased industrial activities in Asia Pacific and Latin America is driving the sales of electric forklifts and warehouse trucks. Demand for lean production is driving the adoption of large number of industrial vehicles within facilities and warehouse, which in turn is boosting the OTR tire market.

Based on industry, the agriculture segment is expected to dominate the global OTR tire market both in terms of volume and revenue. Modernization of agricultural activities and rising consumer demand due to rising population are boosting the adoption of tractors and agricultural equipment, which in turn is driving the demand for OTR tires.

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The construction & mining segment of the market in Asia Pacific, Latin America, and Middle East & Africa is expected to expand at a high growth rate during the forecast period. Recovery of the economy of Brazil is expected to witness higher budgeting for infrastructure, thus boosting the sales of construction vehicles. This, in turn, is anticipated to propel the OTR tire market in the country.

Giant OTR tires of 51’’ to 63’’ rim size are expected to witness a significant demand owing to rise of construction projects in developing countries. The stability of commodity prices has boosted the mining sector. Usage of dump trucks, excavators, scrappers, and other mining vehicles to improve the output is expected to boost the demand for OTR tires.

Asia Pacific is a key market for OTR tires. Abundance of natural rubber in the region has played an instrumental role in achieving competitive pricing of OTR tires. Rapid economic expansion witnessed by countries in Asia Pacific is expected to boost industrial activity and construction projects, thus driving the OTR tire market in the region.

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Driving Footwear Market Global Outlook on Key Growth Trends, Factors

The driving footwear market in North America holds the second largest share in the global driving footwear market and is expected to grow moderately over the forecast period. Driving boots hold the highest market share in North America among different types of driving footwear. Driving sneakers are seeing increasing demand and their growth is expected during the forecast period.

The online driving footwear market is expected to grow faster than the offline driving footwear market. In 2018, the population in North America reached 494.4 million, of which about 40.0% is aged between 25-54 years. These are the major purchasers of online driving footwear. In 2018, internet penetration in North America reached 90.0% of the population. The U.S. holds the lion’s share in the North America driving footwear market, with a share of more than 80.0% expected by the end of the forecast period.

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As per Footwear Distributors and Retailers of America (FDRA), footwear is one of the most purchased items in the U.S. Per capita footwear consumption in the U.S. is seven pairs of shoes. The U.S. is one of the largest importers of footwear in the world. Almost all the footwear used in the U.S. is imported. As per current data from FDRA, 2.39 billion footwear pairs sold in the U.S. are imported and only 25 million footwear pairs are U.S. made.

The driving footwear market in Europe is the largest in the world and is expected to grow moderately over the forecast period. Driving boots hold the highest market share in Europe among different types of driving footwear and is expected to hold a market share close to 60.0% by the end of the forecast period. Driving sneakers which are widely popular in Europe are expected to see increased demand during the forecast period. The U.K., Germany, Italy, France, and Spain are major markets in the Europe driving footwear market, with a share close to 75.0% expected by the end of the forecast period. Europe is the largest footwear importer in the world.

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Cosmetic Skin Care Market Demand & Future Scope Including Top Players

In terms of revenue, the market is estimated to expand at a CAGR of 3.7% from 2019 to 2027. In terms of volume, the market stood at around 2,853.7 Million units in 2017. The cosmetic skin care market in Asia Pacific is expected to expand at a notable growth rate during the forecast period both in terms of value (US$ Bn) and volume (Million Units). The market in Asia Pacific witnessed considerable expansion due to increasing disposable income in Japan, China, and India.

The market dynamics of the global cosmetic skin care market are subject to factors primarily related to the preference for organic cosmetic skin care products and rising disposable incomes. In terms of gender, the women segment is anticipated to account for a major share and reach a value of US$ 112.45 Bn by 2027, expanding at a CAGR of 4.4% during the forecast period. However, stricter implementation of government regulations regarding the ingredients used in the cosmetic skin care products is a major factor restraining the market. Nevertheless, the market is anticipated to expand due to rising demand in Asia Pacific.

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In 2017, In terms of product, the moisturizer segment was valued at US$ 25.26 Bn. Moisturizers are used to treat dryness of the skin through the topical application of lotions and creams on the affected parts of the body. Based on application, the surgical cosmetic skin care segment accounted for a relatively minor share of the market, in terms of value as well as volume, as the adoption is not as high as the topical segment.

The surgical segment is anticipated to reach a value of US$ 29.71Bn by 2027, expanding at a CAGR of 3.6% during the forecast period. In terms of distribution channel, the online segment is anticipated to reach a value of US$ 20.15 Bn by 2027, expanding at a CAGR of 5.2% during the forecast period. The online segment is estimated to expand at a rapid pace during the forecast period, due to the benefits of using e-commerce websites, which offer ease of use and enable consumers to choose from a wide range of products.

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Optical Position Sensors Market Generates Huge Revenue Till 2023

The growth in the demand for optical sensors is expected to continue with the steady pace in Asia Pacific. This growth is backed by the increasing demand for smart electronic devices in the region. As a result of the growing disposable income of the consumer, they prefer to adopt optical sensors to maintain the safety of their assets.

All these factors cumulatively support the dominance of the Asia Pacific in global optical position sensors market. Based on the data acquired, the report by Transparency Market Research states that the global optical position sensors market is expected to bag US$ 886.3 mn by the end of 2023.

Consumer Electronics Emerges as the Leading Segment

The global optical position sensors market is categorized on the basis of the type, technology, applications, and end users. Of these categories, the consumer electronics segment under application parameter is expected to emerge as the lading segment during the forecast period 2012 to 2023.

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The segment accounts for more than 51.2% of total revenue generation of the global optical position sensors market. One of the key factors that boost the segments growth is the growing application of optical sensors in various consumer electric products like smartphones, and smart cameras. Some of the other end user industries that constitute the global optical position sensors market are defense and aerospace.

Smart Devices Drive Better Growth

Devices like smartphones, smart watches, and tables are some of the smart devices that extensively use optical sensors. The growth in the sales of these products soar the revenue for global optical position sensors market. In order to capture majority share of global optical sensors market, manufacturers of these devices are rolling out new products with competitive price range and features. Because of the arrival of new products in terms of technology, price, and features, smart devices are driving the growth of global optical position sensors market in the forecast period of 2012 to 2023.

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Pharmaceutical Packaging Equipment Market Demand & Future Scope Including Top Players

As per the TMR report, the pharmaceutical packaging equipment market is likely to clock a CAGR of 6.7% over the forecast period between 2017 and 2025, for the market to be worth US$10.69 bn by 2025-end. The market was pegged at US$5.97 bn in 2016. By product type, the segment of liquid packaging equipment held the leading share in 2016 and is likely to remain lucrative due to increasing use of liquid dosages. This results in high demand for liquid filling equipment with accuracy and high-precision.

By packaging type, primary packaging leads the market and is predicted to continue to lead through 2025. The growth of primary packaging segment is mainly because of high demand for unit dosage forms. Geographically, North America held the leading 31.8% of the market in 2016; the region is expected to continue to remain at the fore through 2025.

Need for Drugs and Therapeutic Products to Reach Safely to Patients Boosts Growth

Apart from clinical trials and research initiatives to devise effective treatment for medical conditions, high quality packaging is increasingly becoming a requisite for the growth of the pharmaceutical industry. Foolproof packaging of pharmaceutical products is important so that medications and therapeutic products reach patients safely.

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To serve this, pharmaceutical companies are investing heavily to purchase equipment that offers advanced packaging solutions for easy administering of medication. In addition, rising demand for patient compliance and environmental concerns pertaining to plastic packaging are pushing pharmaceutical companies to invest in newer packaging solutions. This is fuelling the pharmaceutical packaging equipment market.

Furthermore, stringent regulations in place that mandate pharmaceutical companies to adhere to certain standards for packaging of drugs is also positively impacting the pharmaceutical packaging equipment market. With increasing demand for integrated packaging technologies from pharmaceutical companies, the demand for high-performance equipment is likely to be on the rise in the years ahead.

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Wireless Gas Detection Market Comprehensive Analysis, Growth Forecast 2022

The analyst of the TMR business study has reported of a cutthroat competitive landscape in the global wireless gas detection market, wherein a number of major players are battling against each other. Going forward, most of the global shares of the wireless gas detection market are anticipated to remain confined within prominent players such as Drägerwerk, Honeywell, R.C. Systems, United Electric Controls, Agilent Technologies, Sensidyne, Crowcon Detection Instruments, Airtest Technologies, Otis Instruments, and Pem-Tech.

Most of these players have an impressive product portfolio and are consistently expanding geographically to sustain their supremacy. Efficient placement of sensors and aiding organizations in selecting the right kind of gas detection solutions are some of the key services provided by the players, who are also working on developing portable systems that can cater to diverse demands.

Based on product type, the market for wireless gas detection has been segmented into nitrogen oxide, carbon monoxide, carbon dioxide, and oxygen, whereas on the basis of end users, the market has been bifurcated into mining and metals, government and military, chemicals and petrochemicals, and oil and gas.

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The report has also classified the market on the basis of application, into environment protection, military, and industrial safety as well as on the basis of technology into license-free ISM band, Bluetooth, cellular, and Wi-Fi. Geographically, North America is foreseen to dominate the demand in terms of revenue. By the end of 2022, the North America wireless gas detection market is estimated to be worth US$470.6 million, with most of the demand coming from the developed countries of the U.S. and Canada.

Government Regulations for Worker Safety Driving Demand

Some of the key factors augmenting the demand in the global wireless gas detection market are: simple installation procedures and ease of usage, benefits of cost-effective in terms of power consumption, and enhancement of worker safety and compliance with government regulations. Additionally, growing adoption of the Internet of Things (IoT) technologies across manufacturing industries and government emphasis on highlighting environmental safety are also expected to pave new revenue avenues in this market. On the other hand, issues pertaining to data security, design challenges, and calibration restraints are curtailing the progress of this market.

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Retail Ready Packaging Market Global Outlook on Key Growth Trends, Factors

The global market vendors in the retail ready packaging market are on a quest to continually expand their geographical reach, This strategy can also create new opportunities for local vendors who can tie up with the global players in the global retail ready packaging market.

Moreover, acquisition of small and defunct players in the global retail ready packaging market is also a projected trend. Some of the key players in the global retail ready packaging market are Mondi, Weedon Group, International Paper Company, Orora Packaging Australia Pty Ltd, Amcor Limited, Smurfit Kappa Group plc, LINPAC Packaging, and Caps Cases Limited.

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Transparency Market Research (TMR) predicts that the global retail ready packaging market would expand at a steady CAGR of 4.3% over the period between 2017 and 2025. The total value of the global retail ready packaging market is projected to reach US$84,465.6 mn by 2025-end, rising up from a value of US$60,521.1 mn in 2017. On the basis of end-user, retailers of food products have emerged as key consumers of retail ready packaging market.

The sale of several kinds of products through retail channels has played a vital role in the growth of the global retail ready packaging market. Retail ready packaging refers to packaging of goods in such a way that the retailers can directly stock the products on the shelves, post procurement. The utility served by retail ready packaging has played a vital part in the growth of the global market. Moreover, increase in the number of products available on the shelves of retail outlets has also aided market growth.

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