Automotive Electronic Power Steering Market to Witness Huge Expansion

The global automotive electronic power steering (EPS) market is prognosticated to gain a strong boost in demand on the back of special features such as precision turning and reduction in the use of power, which could not be offered by traditional steering. Moreover, automotive EPS systems could help improve the driving experience and fuel efficiency. Previously, the automotive EPS technology was only implemented in sport utility vehicles (SUVs) and advanced automobiles. However, with the increased dependency on automotive EPS, this technology now finds application in almost all classifications of automobiles.

Transparency Market Research envisages the global automotive EPS market to rise at a 5.9% CAGR during the forecast timeframe 2017–2022. By the concluding forecast year, the market could bag in a US$33.1 bn, which is a telling progress from a US$24.8 bn achieved in 2017.

Global Automotive Electronic Power Steering Market: Major Insights

One of the top growth factors of the world automotive EPS market could be several automotive firms concentrating on research and development activities. It could be said that the market is mainly reliant on the automobile manufacturing industry. Rising competition to manufacture auto-pilot enabled or self-driven and electric automobiles is envisioned to promote the snowballing of the demand for automotive EPS. The development of EPS with no direct connection of links could be a growing trend in the market. Furthermore, the emergence of robust and sophisticated steering mechanism is foretold to augur well for market growth.

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After a decisive and an in-depth analysis of the world automotive EPS market, the analysts foresee the presence of four products to make a significant difference, viz. column-assist (C)-EPS, pinion-assist (P)-EPS, rack-assist (R)-EPS, and hydraulic (H)-EPS. However, H-EPS could take the lead in the market while rising at a 4.9% CAGR. In terms of vehicle, heavy commercial vehicles, light commercial vehicles, luxury passenger cars, premium passenger cars, mid-sized passenger cars, and compact passenger cars could be the major markets for automotive EPS.

Geographically, the world automotive EPS market could witness Europe as a superior region riding on a 26.3% share to be attained by the end of 2017. Asia Pacific except Japan (APEJ) is predicted to post an impressive CAGR of 6.4%. Other regions such as North America could also contribute handsomely toward the growth of the market.

Global Automotive Electronic Power Steering Market: Vendor Landscape

The international automotive EPS market is anticipated to feature the presence of a significant count of global and some regional players. Buyers of the publication would be exposed to a key and comprehensive analysis of top companies such as Sona Koyo, Hitachi Automotive, ThyssenKrupp Presta, Showa, and KSR International Company. The market could exhibit a high competitive scenario for the next few years.

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With a view to expand their presence in the market, players are expected to take to swelling investments in research and development activities and enlarging their clientele base. A large count of original equipment manufacturers (OEMs) could be focusing on long-term collaborations with players in order to effectively manage the quality and cost of the materials engaged.

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Automotive Battery Market Size Research Report Forecast up to 2022

The changing landscape of the global automotive battery market was estimated to increase the importance of the product in years to come by the Transparency Market Research (TMR). To develop components of automobiles for enabling electricity optimization, new mechanics and designs are adopted by Original Equipment Manufacturer (OEM) and automotive battery manufacturers like Exide Industries Limited, Hitachi Ltd, Johnson Controld International plc, and Furukawa Electric Co.Ltd. . These factors support the incorporation of advanced batteries in automobiles.

The market has witnessed the introduction of automotive battery technology that enables quick recharge and offers power-saving options. In this regard, automobile manufacturers and OEMs are expected to focus on the optimization of smooth power consumption during the development of vehicle system components.

TMR forecasts the global automotive battery market to be valued at US$54.5 bn by 2022 with an estimated 5.7% CAGR during the forecast period of 2017 to 2022.With a 38.0% revenue share achieved in 2017, small sealed lead acid (SSLA) segment is predicted to lead the market on the basis of chemical composition. With a valuation of US$15.1 bn by 2022, Europe is expected to maintain its position as the larger region.

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Strict Emission Norms and High Demand for Fuel Efficiency Reinforce Growth

The strong growth of SSLLA automotive battery is predicted by market analysts. As more number of electric and plug-in hybrid vehicles are being produced presently, lithium-ion (Li-on) automotive battery is showing a steady sales growth. Owing to the promise of successful commercialization and attractive incentives, OEMs are encouraged to introduce new hybrid and electric models. OEMs are compelled to develop products that fulfill future transportation and similar other requirements because of strict emission norms and global demand for fuel efficiency.

The advent of electric vehicles has caused a growth in both the number of electric vehicle models as well as OEMs. For example, in 2017, Mercedes Benz had decided to introduce plug-in electric vehicle model. Along similar lines, Toyota is expected to launch a plug-in hybrid and all-electric vehicles by the end of 2018.

Underdeveloped Support Infrastructure and Safety Issues Tether Demand

The availability of underdeveloped support infrastructure for electric vehicles is negatively affected by the forecasted demand for automotive battery. Moreover, it is difficult to provide products at a parallel competitive pace for automotive battery manufacturers due to the overflowing sale of compact and mid-sized vehicles compared to other type of vehicles. However, less complaints were lodged by manufacturers for the production of automotive battery for compact and mid-sized vehicles because of the less complexity requirement in additional cost manufacturing.

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Regions that exhibit increased trade activities and high demand for commercial aircrafts and automobiles are yet to be explored by manufacturers. These factors have been anticipated to contribute to the growth of the automotive battery market internationally. An important element expected to reinforce the demand for automotive battery is its economic, technological and infrastructural development.

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Automotive Blind Spot Detection Market: Comprehensive study explores Huge Growth in Future

Boasting the presence of several large companies and ample representation from local players, the competitive scenario in the global automotive blind spot detection market is likely to get tougher in the coming years. Some of the existing market players already enjoy the perks of being early entrants, making terrains extremely difficult for the entry of newer vendors. Besides this, the established players are aiming to score high on the back of their widespread regional footprint and extensive product portfolio. This could make the contention of newer vendors even weaker, finds Transparency Market Research (TMR) in a new study.

TMR has forecast the global automotive blind spot detection market to reach US$11.67 bn by the end of 2025, as against US$3.42 bn, its valuation in 2016, exhibiting an impressive 14.59% CAGR between 2017 and 2025. Accounting for nearly 40% of the global market, North America emerged dominant in 2016 and is expected to remain rooted at the fore through the report’s forecast period.  Based on component, RADAR sensors held lead in the global market with a whopping 67.4% share in 2016.

Positive Outcome Likely from Demand for Efficient Technologies to Curb Accidents

Various factors have been supporting the market’s expansion globally. For starters, the escalating occurrence of accidents reported worldwide and soaring traffic flow call for advanced technologies to implement improved road safety. These, coupled with stringent government directives, have compelled automakers to implement advanced safety systems, subsequently giving impetus to the global automotive blind spot detection market.

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Blind spot detection is considered imperative to ensure passengers’ and driver’s safety. “Because customers are willing to spend on innovative safety features, experts predict a positive outlook for the global automotive blind spot detection market,” said a lead TMR analyst. Meanwhile, persistent research and development efforts on part of manufacturers to create a niche will bode well for the overall market. In doing so, the automakers are redefining their products and basking in the glory of winning competitive edge over their rivals. Innovations also aid the product differentiation strategies of various market players. Given the scenario, customers can expect several advances in the automotive blind spot detection technology in the forthcoming years.

In cohesion with this, the rising use of sensors as a result of recent technological advancements will enable the global automotive blind spot detection market gain significant momentum in the coming years. Also government initiatives will prove a key support to the market. Stringent regulations implemented to ascertain road safety have encouraged manufacturers to integrate advanced systems in compliance with the novel rules. Considering this, it is highly possible that over the next couple of years the blind spot safety systems could be mandated on all vehicles. Such measures can in turn mitigate the soaring accidents and fatalities witnessed across the globe.

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Opportunities Could Prove Bleak in Regions with Adverse Weather Conditions

On the downside, the efficiency of blind spot detection systems are compromised with in regions witnessing adverse weather conditions. For instance, continuous snowfall and rainfall can impair the vigilance of these safety systems, making them less efficient in tracking or monitoring objects around them. This is one of the key factors behind the reluctance of car owners of such regions from investing in advanced blind spot detection systems. Such instances could well hinder the market’s trajectory in certain regions. Also, with leading manufacturers pitting against each other on the back of product differentiation could confuse car owners, making their purchase decisions even difficult. This could pose threat on the overall automotive blind spot detection market.

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Automotive Micro Switch Market Rapid Growth at Deep Value Price

An automobile is made up of a number of components that are connected via micro switches that are specifically designed to function as a sensor for the presence or absence of another condition. With the right micro switch, automotive industry players can build better products with different configuration of terminations, actuators, and wired connections. As the automotive industry touches new peaks in the emerging economies and the growing prospects of electric vehicles in developed countries, the market for automotive micro switches is primed for a profitable future. According to a recent business intelligence study by Transparency Market Research (TMR), the global automotive micro switch market will be worth US$4,282.2 million by the end of 2025, with the demand expanding at a notable CAGR of 5.1% during the forecast period of 2017 to 2025.

As per the findings of the TMR report, the global shares in the automotive micro switch market are distributed among a large pool of players, and newer players are frequently eating out a share of pie owing to low entry barriers. These micro switches are cost-effective, and do not require extensive technological expertise to be built.

That being said, the analyst of the report has identified Honeywell Sensing and Productivity Solutions, Alps Electric, Johnson Electric Holdings Ltd., Panasonic Corporation, C&K Components Inc., OMRON Corporation, Crouzet Automatismes SAS, CAMSCO Electric Co. Ltd., TE Connectivity, The APEM Group, Microprecision Electronics, and Knitter Switch as some of the notable companies ahead of the curve. To gain an edge over their competitors, these players are frequently indulging in mergers and acquisition, as it helps them strengthen their supply chain as well as find new customers.

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Based on type, the market for automotive micro switch market has been segmented into door interlock switches, reset switches, ultra-miniature micro switches, sub-miniature micro switches, double pole double throw micro switches, single pole standard precision micro switches, general purpose micro switches, and standard micro switches. End users studied under this study are retail, automotive, industrial, consumer electronics, and others. Geographically, the analyst of the report has highlighted Asia Pacific as the region that will continue to formulate for the most prominent chunk of the demand in the near future.

Increasing consumer preference for integrated components within an automobile that add to convenience in handling as well as improves safety of the product is the primary driver of the automotive micro switch market. Manufacturers are building complex combinations of mechanical structure coupled with electronic systems that are increasing intelligent, and are equipped with systems such as infotainment, HVAC, window, electric steering, acceleration, heated seats, headlight controls, and transmission. For all these systems, micro switches are essential.

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Key Takeaways:

• Global automotive micro switch market is estimated to be worth US$4,282.2 million by the end of 2025, mounting from its evaluated worth of US$9,271.1 million as of 2016
• Owing to low entry barriers, new players are able to make a mark in this market, although a few well-established players are expected to rain their dominance in the near future
• Prospering automotive industry in Asia Pacific is expected to sustain a consistent demand in the near future.

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Commercial Robotics Market Emerging Trends and Competitive Landscape Forecast to 2022

The global commercial robotics market has witnessed steady growth in the last few years due to rapid growth of vital end users such as the healthcare industry. Commercial robotics has become a crucial requirement in several parts of the healthcare sector, which is likely to enable a steady growth in demand from the global commercial robotics market in the coming years. Other sectors such as the defense and marine industries are also likely to exhibit growing demand from the global commercial robotics market in the coming years, brightening the market’s prospects. The commercial robotics market is thus likely to exhibit a smooth growth trajectory in the coming years, according to Transparency Market Research.

The firm puts the commercial robotics market’s 2017 valuation at US$5.9 bn, estimating the market to rise to a valuation of US$17.6 bn by 2022 at a strong 24.4% CAGR.

Here are some leading factors to consider in the global commercial robotics market in the coming years:

Steady growth of the healthcare industry has been vital for the global commercial robotics market in the last few years. The medical robotics sector has developed at a rapid rate in the recent past due to growing acknowledgment of its benefits in the healthcare sector, which has led to growing investment from leading medical industry players. The healthcare industry is particularly strongly leaned towards technological innovation in developed regions such as North America and Western Europe. However, the global medical robotics market could shift its center from the West to emerging regions such as Southeast Asia and the Middle East in the coming years due to growing government support to the healthcare sector in countries such as China and India.

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The North America market is set to dominate the global commercial robotics market in the coming years due to the widespread acceptance of the infrastructure required for adoption of commercial robotic systems. The steady technological advancement of the healthcare sector in North America is thus a major driver for the global commercial robotics market.

Europe is also a major contributor to the global commercial robotics market due to the strong presence of the industrial sector as well as a burgeoning healthcare industry. The commercial robotics market in North America is expected to be valued at US$7.6 bn in 2022, representing more than 43% of the global commercial robotics market. The defense and security sector could also account for a significant portion of the demand from North America and Europe, as numerous developed countries in these regions have focused on military modernization in the recent past.

The increasing government interest in the healthcare sector in countries such as China, India, Thailand, Indonesia, Singapore, and Malaysia is likely to drive the commercial robotics market in Asia Pacific except Japan in the coming years, with the regional market set to account for 18.4% of the global commercial robotics market by 2022. The region is expected to make a 271 BPS rise over the 2017-2022 forecast period.

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The Middle East and Japan are also likely to contribute significantly to the global commercial robotics market in the coming years, with the MEA market for commercial robotics expected to rise to US$471 mn by 2022 at a strong CAGR of 22.7%. The strong presence of Japanese companies in the robotics sector is likely to enable smooth growth of the commercial robotics market in Japan in the coming years, with the Japan commercial robotics market set to rise to a valuation of US$899.8 mn by 2022.

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Automated Optical Metrology Market Scope and Future Outlook

KLA Tencor Corporation, ASML Holding N.V., and Steinbichler Optotechnik GmbH, the three top providers of automated optical metrology services, collectively held a share of 39.4% of the market value in 2014, states Transparency Market Research (TMR) in a new report. 

The key competitive strategy employed by most top players in the automated optical metrology market is driving company growth through constant product innovation and development. Transparency Market Research states that innovation for new products is a necessity in this market to maintain a strong foothold within its stiff competitive landscape. Apart from this, companies are also focusing on mergers and acquisitions. Close to half the market shares were held by regional players in 2014, and key players can look for opportunities in regional expansion through this fragmented set.

Industries Pull in Advanced Automated Optical Metrology Solutions to Comply with Measurement Standards

“The lack of measurement standardization within any industry can be extremely detrimental when it comes to trade,” states a TMR analyst. “As such, most industries are striving to keep up with the market growth by inculcating the measurement standards to ensure high quality of products that can be exported.”

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Quality control, measurement, and inspection have thus become a core necessity in all manufacturing processes. The International Bureau of Weights and Measures is one such organization that is responsible for fixing measurement standards on an international scale.

All companies affiliated with these industries must adhere to these standards to ensure high quality product quality, therefore ramping up the demand for automated optical metrology.

Lack of International Measurement Standards Hinder Automated Optical Metrology Players from Expanding Geographically

While industries follow their own measurement standards for quality control, each organization possesses its own set of standard measurements. Furthermore, these clustered measurement standards can also prove to be contradictory to other standards, causing significant confusion and loss of product manufacturing time.

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Companies applying these non-standard measurement for international trade are the ones most hit. The lack of international measurement standards is therefore, something that needs to be resolved to improve the growth rate of automated optical metrology.

Automotive Industry Ups Demand for Automated Optical Metrology Systems

The global automated optical metrology market is expanding at a CAGR of 7.6% within a forecast period from 2015 to 2021 in terms of revenue. This revenue is expected to reach US$1,565.3 mn by the end of 2021.

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Casting and Splinting (Supplies and Equipment) Market Status And Application Forecast To 2024

The global casting and splinting market encapsulates a large number of small-, medium-, and large-scale players across various regional pockets. This has resulted in a highly fragmented nature of the competitive scenario wherein all of the players are making ardent efforts to gain a higher market share than they earlier had. The renown and acclaim attained by both, local and global players, increases competition within the market. Transparency Market Research finds that the leading players in the market are BSN Medical GmBH, Stryker Corporation, 3M healthcare, and Prime Medical, Inc.

These companies are expected to acquire local players in order to reap the benefits of greater market penetration. The access to the market of emerging economies is projected to enhance the growth prospects of these players. Furthermore, strategic mergers, partnerships, and alliances are also expected to surface across the market. Development of novelty products that can come in handy for all forms of ailments are also on the to-do list of huge market players.

The market was valued at US$1.8 bn in 2015 and is expected to surge up to a valuation of US$3.1 bn by the end of 2024. The CAGR for the market during the period from 2016 to 2024 is prophesied to settle at 6.1%. Based on the type of products, casting supply and equipment is expected to outdo the other segment viz. splitting supplies and equipment. The former is expected to expand at a CAGR of 5.6% over the forecast period.

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On a geographical footing, Asia Pacific has exhibited the most lucrative opportunities for growth over the past years; the regional market held 26.7% of the total market share in 2015. The growth of the market in Asia Pacific is attributable to the rising geriatric population and the presence of large number of splint and cast supplies manufacturers.

Rising Geriatric Population Upticks Demand for Casting and Splinting

The cases of sports, musculoskeletal, and orthopedic injuries have been on a rise in recent times, thus, creating demand for splinting and casting across the globe. This demand is amplified by the efforts of the market players to introduce split and cast materials that are more effective in speeding the recovery process. Furthermore, the instance of injuries is higher in the geriatric population, and hence, the rise of this demographic accentuates the market. The recurrence of road accidents has also played a pivotal role in enhancing the prospects of market growth.

Ailments caused by injuries can deprive patients of a normal life, often resulting in mental trauma too. The advancement in splitting and casting technologies has regenerated hope amongst the ailing population. The various types of products under the casting supplies and equipment segment include cast cutters, casting tapes, casting tools and accessories, and plaster casts. Under the splitting supplies and equipment category, the products include plaster splints, splinting tools and accessories, fiberglass splints, and other splints such as neoprene and polyester.

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Unfavorable Reimbursement Policies Could Obstruct Market Growth

Although the market has been riding on an affluent growth path, the market isn’t free of obstructions. The lack of insurance covers and reimbursement policies across several regional pockets has discouraged people from resorting to splinting and casting for treatments. The emerging economies are under the brunt of non-supportive government policies in this regard. Nevertheless, the rapid development of the healthcare industry would assist the global splinting and casting market.

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