Lithium-ion Battery Market to Witness an Outstanding Growth During 2019-2027

According to a new market report published by Transparency Market Research on the lithium-ion battery market for the forecast period of 2019–2027, the global lithium-ion battery market is expected to reach ~ US$ 41.5 Bn by 2027, expanding at a CAGR of ~ 9% from 2019 to 2027. In terms of volume, the global lithium-ion battery market is expected to reach 15,764.89 million units by 2027, at a CAGR of ~ 11% during the forecast period of 2019 to 2027. Asia Pacific held a prominent share of the global lithium-ion battery market in 2018.

Lithium-ion batteries power mobile phones, tablets, laptops, wearable devices, power banks, and other consumer electronic devices. Asia Pacific is the largest lithium-ion battery market in the world. The region has the largest consumer electronics and EV market, globally. Demand from these sectors is driving the sales of lithium-ion batteries in the region. In Asia Pacific, the value chain of the lithium-ion battery market is highly developed. Manufacturers in China, Japan, and South Korea, such as LG Chem, Samsung SDI, Panasonic Corporation, and BYD Group, are the dominant players manufacturing lithium-ion batteries for electric vehicles. Governments of China, Japan, and South Korea are investing heavily in lithium-ion battery technologies to maintain their lead.

China leads the lithium-ion market in the region. The large consumer electronics, EVs, and energy storage markets are driving the sale of lithium-ion batteries. Japan is a pioneer in the electronics industry. The Japanese automotive industry is an early adopter of EVs due to scarcity of oil. Rise in the sales of consumer electronic devices and EVs are increasing the demand for lithium-ion batteries. South Korea is a leader in the smartphone industry, and the rise in the sales of smartphones in the country is increasing the demand for lithium-ion batteries.    

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North America has one of the largest consumer electronics and EV markets, and is the second-largest lithium-ion battery market in the world. The North America consumer electronics market was valued at ~ US$ 85 Bn in 2018, and is forecast to reach ~ US$ 108 Bn by 2023, expanding at a CAGR of ~ 6%. The rising consumer electronics market is driving the demand for lithium-ion batteries. Lithium-ion batteries are the heart of EVs. The region has opportunity for growth of EVs, as the penetration of EVs in the U.S., Canada, and Mexico is 2.4%, 2.3%, and 0.1%, respectively. The U.S. is the largest and the most prominent lithium-ion market in North America, followed by Canada.

Lithium-ion batteries are used in various energy storage applications, ranging from small capacity batteries used in residential systems with rooftop photovoltaic arrays to large capacity batteries used in complex energy grid systems. Rise in the demand for energy storage systems in the U.S. is driving the overall demand for lithium-ion batteries in the energy storage market in North America.

Europe is the third-largest market. Rise in the sales of consumer electronic devices and EVs is increasing the demand for lithium-ion batteries. The penetration of EVs in Germany, the U.K., and France is 2.0%, 2.1%, and 2.1%, respectively. Lithium-ion batteries are required to power all consumer electronic devices. The consumer electronics market in Europe was valued at ~ US$ 68 Bn in 2018, and is anticipated to reach US$ 89.5 Bn by 2023, increasing at a CAGR of ~ 7%. The sales of smartphones, tablets, and other consumer electronic devices are increasing the demand for lithium-ion batteries in Europe.

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MEA and South America are the smallest markets among all the regions.

Company profiles of the players operating in the lithium-ion battery market include company overview, major business strategies, and key developments. Companies profiled in the global lithium-ion battery market include BYD Company Limited, A123 Systems LLC, Panasonic Corporation, Samsung SDI Co. Ltd, Amperex Technology Limited (ATL), LG Chem, Ltd., Murata Manufacturing Co. Ltd., Toshiba Corporation, Clarios Power Solutions, and Maxell Holdings, Ltd.

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Prescription Safety Glasses Market to Witness Rapid Increase in Consumption During 2019-2027

Transparency Market Research delivers key insights on the global prescription safety glasses market. In terms of revenue, the global prescription safety glasses market is anticipated to expand at a CAGR of ~4% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in the prescription safety glasses market report.

Prescription safety glasses provide protection against hazardous liquids & gases, dust particles, sparks, heat, debris, as well as manufacturing residue. Prescription safety glasses are safety glasses having prescription lenses in it. Prescription safety glasses are especially designed to provide protection to the eyes while working in mining, chemicals, metalwork, construction, or any other industry, which poses a threat to the eyes.

In this market report, TMR estimates that based on product type, safety spectacles are likely to be the most widely used product by the end of 2027 in the prescription safety glasses market, followed by prescription safety goggles. Increasing adoption of eye safety products is expected to fuel the prescription safety glasses market globally.

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Eye protection is a major concern at high-risk work areas such as construction, mining, carpentry, electrical work, automotive, and industrial manufacturing sectors. According to the National Institute for Occupational Safety and Health (NIOSH), every day about 2,000 U.S. workers sustain job-related eye injuries that require medical treatment. However, safety experts and eye doctors believe the right eye protection can lessen the severity or even prevent 90% of these eye injuries. Laboratory & janitorial staff and healthcare workers are also at higher risk of acquiring infectious diseases from eye exposure which encourages them to use eye protective equipment.  Thus, growing concerns about eye safety in various working spaces is likely to boost the prescription safety glasses market.

Prescription safety glasses are also used during sports activities such as shooting, hunting, and adventure sports. Growing participation in these sports is anticipated to boost the prescription safety glasses market in the near future.

Prescription Safety Glasses Market: Prominent Regions

Asia Pacific is projected to show prominent growth in the prescription safety glasses market in the near future, as large number of manufacturing and industrial sectors are present in the region. China and Japan are considered prominent markets for prescription safety glass manufacturers during the forecast timeline. Over the years, North America has emerged as the biggest market for prescription safety glasses. North America along with Europe dominate the market. Increasing government regulations and worker safety health related policies is projected to positively impact the prescription safety glasses market during the forecast period.

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Major brands are likely to focus on research & development to strengthen their footprint in the global prescription safety glasses market. Companies are engaged in expanding their product portfolio. Manufacturers are focusing on reducing the cost of production so that the product is affordable for laborers and also increase profitability for sustainable growth of their businesses.

Prescription Safety Glasses Market: Key Players

Prominent companies operating in the global prescription safety glasses market include EssilorLuxottica SA, Wiley X Inc., Pyramex Safety, Radians, Inc., MCR Safety, Univet S.r.l., UVEX GROUP, Bollé Safety, Honeywell International Inc., DEWALT, HOYA Corporation (3M), Kimberly-Clark Corporation, and Phillips Safety Products.

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Travel and Tourism Market Unit Sales to Witness Significant Growth in the Near Future

According to a new market report published by Transparency Market Research titled ‘Travel & Tourism Spending Market ((Travel Days - Within 7 Days, 7-15 Days, and More than 15 Days); (Travel Type - Leisure Spending and Business Spending); (Application - Domestic Spending and International Spending)) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027, the global travel & tourism market is expected to reach US$ 13,556.4 Bn by 2027, expanding at a CAGR of 5.2% from 2019 to 2027. The market is segmented by regions into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America. 

The travel & tourism market in North America is a mature and organized market and the second largest in the world. According to the UN World Tourism Organization (UNWTO) Report 2018, the number of international tourist arrivals in North America (including Caribbean and Central America) increased from 97.1 million in 1995 to 174.0 million in 2017, holding a market share of 13.0% in 2017 of global international tourist arrivals. The average annual growth from 2005 till 2017 was 3.7%.

The U.S. is the largest travel and tourism market in North America. The U.S. travel & tourism market is the largest and most organized and mature market in North America. As per the UNWTO Report 2018, the number of international tourist arrivals in the U.S. increased from 60,010 in 2010 to 76,941 in 2017, holding a market share of 36.5% in 2017 of international tourist arrivals in the whole of the Americas.  

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The travel & tourism market in Europe is the third largest in the world and is also a mature and organized market. As per the UNWTO Report 2018, the number of international tourist arrivals in Europe increased from 308.5 million in 1995 to 671.7 million in 2017, holding a market share of 51.0% in 2017 of global international tourist arrivals. The average annual growth from 2005 till 2017 was 3.3%. In the Europe travel & tourism market, Germany, the U.K., and France are the top three travel and tourism markets. Germany is the largest travel and tourism market in Europe, followed by the U.K. and France.

Asia Pacific is the largest travel & tourism market in the world and is a growing market. As per the UNWTO Report 2018, the number of international tourist arrivals in Asia Pacific has increased from 82.0 million in 1995 to 323.1 million in 2017, holding a market share of 24.0% in 2017 of global international tourist arrivals. The average annual growth from 2005 till 2017 was 6.4%. In the Asia Pacific travel & tourism market, China, Japan, and India are the top three travel and tourism markets. China is the largest travel and tourism market in Asia Pacific followed by Japan and India. 

Middle East & Africa (MEA) is a growing travel & tourism market. As per the UNWTO Report 2018, the number of international tourist arrivals in MEA has increased from 31.4 million in 1995 to 120.8 million in 2017, holding a market share of 9.0% in 2017 of global international tourist arrivals. The average annual growth from 2005 till 2017 was 4.9%.In the MEA travel & tourism market, GCC and South Africa are the top two travel and tourism markets. 

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The South America travel & tourism market is a growing market. As per the UNWTO Report 2018, the number of international tourist arrivals in South America increased from 11.7 million in 1995 to 36.7 million in 2017, holding a market share of 3.0% in 2017 of global international tourist arrivals. The average annual growth from 2005 till 2017 was 6.0%. Brazil is the largest travel and tourism market in South America. 

The study provides a conclusive view of the global travel & tourism market by segmenting it in terms of travel days, travel type, and application. In terms of travel days, the global travel & tourism market has been classified into within 7 days, 7-15 days, and more than 15 days. In terms of travel type, the market has been segmented into leisure spending and business spending. In terms of application, the market is segmented into domestic spending and international spending.  

The report highlights major companies operating in the global travel & tourism market including TUI Group, Hilton Worldwide Holdings Inc., Carnival Corporation & plc, Airbnb, Inc., Crown Resorts Ltd., Accor plc, Balkan Holidays Ltd., G Adventures, Adris Grupa d.d., and OYO Rooms.    

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Airborne Fire Control Radar Market Prevalent Opportunities up to 2025

The airborne fire control radar is a specifically designed radar to provide information to the fire control systems for calculation of the firing solution. The emission of the radio waves from the airborne fire control radars are narrow which ensures the accuracy of the firing information and it also maintains the track of the target. The manufacturers of airborne fire control radar has developed a track while scan capability, which enables them to function both as fire control radar and search radar simultaneously. This development has increased the adoption rate of airborne fire control radars among the defense forces in the developed and developing nations. 

The major factor impacting positively in the growth of the airborne fire control radar market is the development of active electronic scanned array (AESA) based systems. The AESA is a phased array radar antenna, in which the radio waves can be electronically controlled to any point in different directions without changing the direction of the antenna. The AESA helps in determining the direction of the target with high precision, which is increasing the interest among the defense forces, which in turn is driving the market for airborne fire control radar market. Moreover, growing defense budgets in the developed and developing regions across the globe, is demanding new and latest technologies in the defense sector in order to equip the military troops with the advanced technologies. The rise in defense budget is boosting growth of the airborne fore control radar market. 

The growth of the market for airborne fire control radar is hindered by the inadequate knowledge of the radar to detect stealth technology. In recent times, the usage of stealth technology in the defense sector across the globe has increased, however, the development of radars to detect stealth technology has not evolved. The incapability of radars in detecting the stealth technology is impacting negatively on the market for airborne fire control radar.

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The airborne fire control radar market is poised to grow significantly in the regions with growing territorial conflicts. Countries in Middle East and Africa are prone to territorial conflicts which is demanding for the advanced radar technology in order to safeguard the nations from incoming weaponries, as well as to combat the enemy with high precision. The exploration of untapped markets in Middle East and Africa is expected to propel the market for airborne fire control radar in future. 

The airborne fire control radar market is segmented on basis of frequency and geography. On basis of frequency, the market for airborne fire control radar is further segmented as X-band radar systems, S-band radar systems, and Ku/Ka/K-band radar systems. The S-band radar systems are the most widely used radar systems in the defense forces across the globe due to its higher accuracy in determining the accuracy of the firing. The X-band radar systems provides higher frequency and enhanced accuracy than S-band radar systems, and due to this, the defense forces are adopting these X-band radar systems at a faster rate as compared to S-band and Ku/Ka/K-band radar systems.  

Geographically, the airborne fire control radar market is categorized as North America, Europe, Asia Pacific, Middle East and Africa and Latin America. Owing to the fact that, huge fleet of military aircrafts in the North American region, North America dominates the market for airborne fire control radar to determine the accuracy of the fire from aircrafts or helicopters.

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The increasing air defense in the Asia Pacific region, the accuracy of the firing from the aircrafts or helicopters need to be precise, and due to this the demand for airborne fire control radar are escalating at a significant rate in Asia Pacific. 

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Directed Energy Weapons Market Growth Outlook 2020

Most directed energy weapons (DEW) present the very unique advantage over conventional weapons of ammunition cost reduction. The cost per shot of directed energy weapons is far lesser than the same for conventional weapons. A DEW missile defense weapon, for instance, shoots high powered laser beams at an incoming missile to overheat it and cause it to explode. Conventional methods employed include shooting at the missile with land to air weapons that consume a large amount of ammunition to get the job done. Therefore, DEWs not only consume lesser dollars per shot, but also require fewer shots. This is currently the key advantage that clients demanding for directed energy weapons are looking forward to. 

Directed energy weapons are also versatile in utility as they can be used in warfare as well as in crowd control situations. DEWs are highly effective in dispersing crowds and riots and have been seeing an increase in use across the world. An example of a commonly used non-lethal crowd control DEW includes the Active Denial System. 

As a result of the above factors and others, the global market for directed energy weapons is expected to progress at a CAGR of 20.8% within a forecast period from 2014 to 2020, in terms of revenue. The market is expected to reach US$5.21 bn by the end of 2020. 

North America to Report Reduced Consumption of Directed Energy Weapons

North America is expected to remain the leading consumer of directed energy weapons till 2020, by when it is expected to take up 52.9% of the global market’s value. While this is actually a drop in share value, the geographical segment is still the leading one. The demand for weapons in general is expected to reduce in North America due to the significant budget cuts made by the U.S. in its defense sector. Being one of the strongest defense bodies in the world, a reduction in consumption is a major hit to most globally prominent directed energy weapons players.

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This reduction in demand from developed economies can be offset by focusing on the booming economies of the developing ones, where there is a strong growth in weapons and ammunitions consumption. The introduction of directed energy weapons is expected to be slower than that in developed economies due to lower awareness rate, but players can find major opportunities in Asia Pacific and Latin America over the coming years. 

Land Based Directed Energy Weapons to Witness Considerable Demand

Airborne, land based, and naval are the three deployment types of directed energy weapons. Of these, land based directed energy weapons are expected to take up 43.5% of the global market value by 2020. This leading share in the market is a result of the growing number of land based programs currently being offered and under development. These include the Active Denial System, the WB-1 Microwave directed energy weapons, and the iron beam. Countries have already committed to building land based directed energy weapons that are extremely efficient, deadly, and accurate, further boosting the scope of growth that directed energy weapons manufacturers can get in land based deployment. 

The top manufacturers of directed energy weapons from a global standpoint include BAE Systems Plc, Lockheed Martin, L-3 Integrated Optical Systems, Raytheon Missile Systems, The Boeing Corporation, Moog Inc., Textron Inc., and Rafael Advanced Systems.

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Military Power Solution Market is Set to Experience Revolutionary Growth by 2025

The military power solutions are used to power up the isolated outposts, electronic gadgets, machineries, and the military drones or UAVs too. The most prominent military power solutions used across the globe are the batteries, generators and solar power cells. The manufacturers of the military power solutions are constantly focusing on the development of the power solutions keeping in mind the rules and regulations set by the defense authorities. 

The military power solutions market is poised to various advantages such as increasing demand for durable and maintenance free power solutions, growing need for portable power solutions, and rising defense electronic budget. The rising demand for durable power solution among the defense sector across the globe is due to the fact that sometimes the troops are deployed at isolated regions where electricity is generated using the power solutions.

And the maintenance free power solutions help the troops reduce the operating costs of these power solution which in turn is beneficial for the defense sector. In addition, the need for portable power solutions is growing rapidly as the portable power solutions can be carried anywhere irrespective of the location. The portable power solutions are the most demanding power solutions in the global defense sector. Moreover, the growing defense budget is increasing the interest among the defense sectors to adopt the power solutions in order to facilitate the military troops and machineries. 

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The military power solutions market faces growth challenges such as strict military regulations, high cost of deployment, and declining defense budgets in the developing or under developed countries. The strict rules set by the defense authorities are compelling the military power solution manufacturers to limit the characteristics of the power solutions. The costs involved in procuring the raw materials for the power solutions, is increasing the cost of final products which is limiting the defense forces to adopt the military power solutions. The declining defense budget in developing countries such as India, South Korea, Saudi Arabia, and African countries is impacting negatively on the market for military power solutions which in turn is limiting the adoption of military power solutions. 

The potential opportunities for the growth of the market for military power solutions are growing demand for military drones, rising demand for soundless power solutions. The demand for military drones are increasing at a rapid rate, which is increasing the demand for power solutions as these military drones requires enduring power supply to operate properly. Moreover, the demand for soundless power solutions is rising at a rapid rate, as the sound emitted from different power solutions such as generators, or energy harvester help the enemies to locate the military outposts. The soundless power solutions would help the defense forces to power the electronics, machineries and the drones without revealing the area of the outposts. 

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Linear Motor Market Detailed Analytical Overview by 2027

Transparency Market Research delivers key insights on the global linear motor market. In terms of revenue, the global linear motor market is estimated to expand at a CAGR of 5.5% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global linear motor market.

Linear motors are defined as electric motors that generate the motion in a straight line, unlike the rotational motion. In a linear motor, the stator is unrolled and spread out flat, while the rotor moves past it in a straight line. Linear motors are used in all designs of machines that require linear motion, including overhead-travelling cranes and beltless conveyors used for moving sheet metals.

Linear motors are employed in a wide range of applications in industries such as manufacturing, semiconductor, food & beverages, textile, healthcare, and printing. Linear motors come in three designs: flat-bed, U-channel, and cylindrical. In line with the growth of the global automation industry, manufacturing and process plant operators are adopting advanced technologies for processes and operations focused on achieving improved product efficiency, reduced labor, and decreased operational costs. Linear motor systems offer a reliable and efficient solution to achieve high efficiency and hence, they are increasingly being adopted in applications ranging from simple point-to-point systems to sophisticated or complex automation systems.

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Linear Motor Market: Dynamics

Servo Components and Systems Ltd has designed a new direct drive called Green Drive Actuator (a combination of speed and rugged operations), which can control the ball screw and provide increased reliability to direct drive linear motors. The actuator operates at a speed of up to 5 m/s, with a positional reliability of 50 microns, which makes it suitable for several industrial applications.

Copley Controls Corp provides a range of AC- and DC-powered digital drives for use in servo and stepper motors called New Plus Servo Drives. Safe torque-off capability of these drives eliminates the complex wiring used in traditional safety applications. New Plus Servo Drives use metal enclosures that ensure the maximum level of noise immunity.

Due to technological innovations in direct drives, the demand for linear motors is increasing in various industrial applications. This, in turn, is boosting the global linear motor market. The impact of this driver is expected to remain high during the forecast period

One of the major issues associated with linear motors is their high cost and the complex design of electromagnets used in them. Generally, more powerful electromagnets are required to lift and move one magnet over another, which consumes a large amount of electric power. Linear motors use superconducting magnets to overcome this issue.

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As for dynamic applications, linear motors are energy efficient and they can attain high speed. For this purpose, superconducting magnets are used to attain low temperatures, which reduces the power consumption, thereby preventing thermal wear and tear of motors. Use of electromagnets with such complex designs is restraining the global linear motor market. Thus, high costs and complex designs of electromagnets used in linear motors are major restraining factors for the global linear motor market. The impact of this driver is expected to remain high during the forecast period.

Linear Motor Market: Prominent Regions

In terms of revenue, Asia Pacific dominates the global linear motor market. The market in the region is estimated to expand at the maximum CAGR of 6.32% during the forecast period and reach more than US$ 1 Bn by 2027. This is attributable to the fact that players operating in end-user industries in the region such as electronics & assembly, semiconductor, and machine tools directly contact OEMs for their specific requirements for linear motors. Increasing adoption of linear motors in Asia Pacific is expected to offer lucrative opportunities to vendors, especially in the electronics & assembly industry during the forecast period. In terms of revenue, the North America market is expected to expand at a sluggish rate during the forecast period. This is due to the presence of various manufacturing industries in the region, which use robots based on linear motors for product manufacture. Other regions such as Europe witness presence of various industries that require linear motors such as automotive, manufacturing, machine tools (metal forming & metal cutting), and packaging & labeling.

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