Automotive Aftermarket Size by Product Market Growth and Forecast 2019-2027

Automotive aftermarket products are used as replacement products for parts or components which are manufactured or used for automobiles by original equipment manufacturers (OEMs). Increasing preferences for the replacement products by consumers to improve vehicle performance is a major factor driving the automotive aftermarket size by product growth. Automotive components and systems need to be replaced after several months/ years based on their utility. Major and common replacement components of the automotive industry include tires, windshields, oils, and braking components. Most of these products are available for in the automotive aftermarket.

Increasing demand for vehicles is a key driver of the automotive aftermarket size by product. Significant improvements in the engineering of vehicles such as customization alternatives, diversified paint coatings, accessories, and engines are attributed to rapid technological advancements. This, in turn, is expected to propel the market during the forecast period. High flexibility in vehicle design and production is anticipated to create opportunities in the market. Changing lifestyles and rise in disposable income of customers are expected to increase production and sales of automotive components. Changing trends and easy customizations allow customers to replace original equipment by using products from the aftermarket.

Aftermarket products are lightweight, strong, and available in available in various for customizations. Increasing concern of customers regarding comfort and safety is expected to fuel the adoption or addition of aftermarket products in vehicles. High durability and strength of original equipment is a major restraint for the automotive aftermarket size by product. Difference in quality of the material can also inhibit the automotive aftermarket products.

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The global automotive market size by product can be segmented in terms of application, product, material, sales store/outlet, vehicle type, and region. Based on application, market can be bifurcated into interior products and exterior products. In terms of product, the automotive aftermarket size by product can be segregated into tires, engine components, transmissions, belts, hoses, suspensions, harnesses, batteries, oils, interior components, and others. Based on material, the aftermarket can be classified into plastics, composites, metals & alloys, and others.

In terms sales store/outlet, the automotive aftermarket size by product can be categorized into organized stores and un-organized stores. Based on vehicle type, the market can be divided into passenger vehicles, light commercial vehicles, heavy commercial vehicles, and two-wheelers. Increase in production of passenger vehicles across the globe is expected to drive the passenger vehicles segment of the market during the forecast period. Additionally, rise in per capita income, rapid urbanization, and expansion of the automotive industry in developing countries are driving the demand for passenger vehicles.

In terms of region, the global automotive aftermarket size by product can be split into Europe, North America, Latin America, Middle East & Africa, and Asia Pacific. The market in Europe is estimated to expand at a rapid pace, as the region is a major producer of premium passenger vehicles and several top OEMs are based in Europe. Demand for automotive aftermarket size by product is projected to rise considerably in Asia Pacific, as countries such as India and China are among the top producers of automobiles and are major users, exporters, and importers of vehicles in the region.

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Key players operating in the global automotive aftermarket size by product include Continental AG, 3M Company, Federal Mogul, Delphi Automotive, Robert Bosch GmbH, ASIMCO Technologies Ltd., Denso Corporation, ALCO Filters. Shandong Zhengnuo Group Co. Ltd., and ACDElco.

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Fuel Card Market Show Steady Growth

According to a new market report published by Transparency Market Research on the global fuel card market for the forecast period of 2019–2027, the fuel card market is expected to reach a value of ~US$ 55 Bn by 2027.

Global Fuel Card Market: Overview

• The global fuel card market was valued at ~US$ 33 Bn in 2018, and is expected to expand at a CAGR of ~6% from 2019 to 2027. The market is expanding significantly in terms of size and value. The standard card technology segment is dominating the global fuel card market.
• The fuel card market in Asia Pacific is growing rapidly. Growing disposable income is driving people to opt for technologically-advanced cards to save on fuel expenses. Moreover, increasing of government initiatives in developing countries for the development of the corporate sector are driving the growth of the corporate fuel card market.  
• Europe is the largest regional market in the global fuel card market, accounting for ~38% share of the global fuel card market in 2018. North America has the second-largest number of fuel card users, as a result of attractive offers by key companies and supportive government initiatives toward cashless transactions.

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Fuel Card Market: Driving Factors

• Rising demand for cashless fuel transactions in developing economies (as it is critical for fleets to monitor fuel purchases to control and manage fuel spending) is driving the fuel card market. Fuel cards offer good quality data on fuel purchases, which helps monitor individual vehicle and driver fuel economy, and apply operational strategies to enhance performance.
• Canada, Sweden, the U.K., France, and the U.S. are the top five cashless economies in the world. Cashless payments help reduce fuel theft via chip and pin cards, which is driving the demand for fuel cards, globally.
• The fleet management market is influenced by technology. The adoption of fleet management software in data management and analytics has been growing, which is expected to significantly boost the fuel card market.
• Rapid urbanization and industrialization in developing countries such as China, India, Mexico, South Africa, and Brazil is providing lucrative opportunities for the global fuel card market. Over the years, growth in the prepaid and contactless card industry has shaped the economies of several countries.

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Fuel Card Market: Key Challenge

• Volatility in fuel prices is likely to be one of the major restraints of the fuel card market. As fuel prices are difficult to be projected, it is difficult to plan and budget for the same. Fuel prices are different across the globe; this is expected to have a huge negative impact on the growth of the fuel card market.

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Posture Corrector Market Statistics and Growth to 2027 Analysis

• Posture corrector, also known as back brace, posture aid, or posture supporter, is a device designed to limit the movement of the spine in case of fracture or during preventive measures against some progressive conditions.
• In other words, posture correctors are a kind of garment designed to support the neck, back, shoulders etc.
• A wide variety of posture correctors are flooding the market. They are available in a variety of sizes and designs to fit as per gender, age, height, and weight as well as lifestyle. Most of the posture correctors are made from lightweight and breathable material and does not irritate the skin.

Key Drivers of the Global Posture Corrector Market

• Increasing trend of perfecting the posture naturally is one of the prime factors driving the growth of the posture corrector market. Increasing millennial population and concerns about their children’s health has resulted in the growth of the posture corrector market. Additionally, rising back pain concerns is one of the major reasons for the growth of posture correctors. Increasing aging population is another key factor driving the growth of the posture corrector market.

Low awareness about the usage of posture correctors to hamper the growth of the market

• Posture correctors are often perceived to be a medical aid rather than an application for day to day use. The correctors are often utilized for medical reasons, especially by patients suffering from back, neck, and shoulder pain. Posture correctors are never a permanent solution and should not be used for a long period of time without medical advice at it tends to weaken the muscles, causing atrophy. All these factors are anticipated to hamper the growth of the posture corrector market.

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Increasing awareness regarding health benefits to offer attractive opportunities for the growth of the posture corrector market

• Awareness about posture correctors is relatively low in many North American and European countries. Acceptance of posture correctors in these regions is low compared to East Asian countries such as China and Japan where the acceptance rate of posture correctors is very high. Increasing awareness regarding the health benefits of posture correctors in many developing and emerging countries is one of the key opportunities for the growth of the market.

Growth Avenues for the Global Posture Corrector Market in Asia Pacific

• Geographically, the global posture corrector market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA).
• North America and Europe have been slow in latching on to the trend of using posture correctors. This is specifically due to lack of awareness and health concerns associated with back issues.
• Asia Pacific on the other hand is one of the strongest contenders for the growth of posture correctors. China and Japan have major share of the market for posture correctors as consumers in these countries are more focused on health and fitness compared to other countries in the region.
• Other regions such as South America and Middle East & Africa have strong potential for growth in the posture corrector market.

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Overview Of Office Coffee Service (OCS) Market 2020-2027

• Coffee is one of the most widely consumed beverage both at home and in the office. Coffee helps to improve energy levels. In the work place, a cup of coffee can energize the employee and increase productivity. 

Global Office OCS Market: Dynamics

Rise in demand for OCS across U.S. and Europe  

Rise in economic growth across the U.S. is leading to increase in businesses and industries which subsequently increases the spending on employee satisfaction services such as office coffee. Revenues are increasing for the OCS industry in the U.S. OCS revenue increased from US$ 5.40 billion in 2017-18 to US$ 5.71 billion in FY 2018. In the U.S., millennial have different needs, tastes, preferences, and expectation and are health-conscious, tech-savvy, ambitious, and seek a better work-life balance. They are increasingly opting for coffee compared to other hot drinks. According to the European Vending & Coffee Service Association (EVA), a dominant portion of coffee machines are located in workplaces. Thus, rise in preference for coffee among the millennial in the U.S. and Europe is increasing the market size of office coffee service.

Rise in online promotions by OCS providers across the U.S. 

In the U.S., online marketing by OCS market players has increased their revenue. All OCS providers in the U.S. have a website from the FY 2017-18. Presently, OCS providers also enable their customers to order coffee through online channels.           

Decrease in price of green coffee helping OCS providers to offset cost 

The International Coffee Organization (ICO) has indicated a gradual decrease in price of green coffee since August 2017 which has continued except for October 2018, and June and July 2019. As per ICO, average green coffee price is lowest in the past five years. OCS providers have seen an increase in operation cost but are able to maintain coffee prices due to decrease in price of green coffee. This is helping OCS providers to increase business but keeping price of coffee under check.                  

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Global Office OCS Market: Regional Analysis

North America and Europe prominent OCS markets in the world

• Geographically, the global OCS market can be divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America
• The market in North America is broken down and analyzed at country-level, which includes the U.S., Canada, and Rest of North America. Similarly, the OCS market in Europe can be bifurcated into country level, covering Germany, France, the U.K., and Rest of Europe. The OCS market in Asia Pacific includes China, India, Japan, and Rest of Asia Pacific. The analysis of the OCS market in Middle East & Africa includes GCC countries, South Africa, and Rest of Middle East & Africa. The OCS market in South America can be divided into Brazil and Rest of South America.
• Globally, North America and Europe are leading OCS markets.

Global Office OCS Market: Competitive Landscape

The global OCS market consists of large and innumerable small and medium sized players. Large market players operate in more than one country/ region. Competition is intense among global and regional players operating in the office coffee service market. A few key players operating in the market are:

• Compass Group
• Farmer Bros. Co.
• Keurig Dr Pepper Inc.
• Peet's Coffee Berkeley
• Royal Cup Coffee
• Van Houtte Coffee Services (A division of Keurig Canada Inc.)
• American Vending Services

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Air Purifiers Market to Register Impressive Growth Rate as Demand Rambles During Lockdown

There are many factors that are driving the global air purifiers market. Growing motorization and industrialization has raised the pollution level at a rapid pace, which is expected to be a major driver of the global market. Increase in pollution has also fuelled instances of airborne diseases, which in turn, is also anticipated to boost the market. Rising health consciousness, along with the advancement in air purification technology, which has made air purifiers very effective against pollution, is expected to be a key driver of the market.

There are, however, some factors that are hampering the market’s growth. The high price of air purifiers have kept them out from the reach of the masses. These are positioned as luxury products rather than necessity, even in the most polluted regions in the world. This factor is estimated to be a major restraint of the market. Moreover, air purifiers also release harmful byproducts, which is anticipated to hamper the market. Furthermore, the high investment required for consistent R&D to stay ahead of the competition is also expected to hinder the market.

The market also has points of opportunities. Increasing internet penetration has opened new channels of sales such as Alibaba and Amazon for air filters. These new channels are advantageous to both end-users and vendors as they eliminate the role of middlemen in the value chain. Moreover, an increasing number of air purifier manufacturers are presently launching new models to cater to individual demands of different customers. Furthermore, favorable government initiatives are also expected to increase the sale of air filters.

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The global air purifiers market can be segmented based on technology, end-use industry, and geography. Based on technology, the market can be segmented into photo plasma, ultraviolet germicidal irradiation, thermodynamic sterilization (TSS), polarized-media electronic, activated carbon, ionizer purifiers, photocatalytic oxidation (PCO), titanium dioxide, ozone generators, and others. In terms of end-use industry, the market can be divided into commercial, residential, industrial, and medical. Based on end-use industry, significant demand is expected to come from business segment primarily driven by the HVAC industry. The residential segment is expected to expand at a prominent growth rate due to the consistent increase in consciousness about health and pollution.

Based on geography, the market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is expected to hold a major share of the global market due to the presence of a large number of major industry players and rising health consciousness among people in the region. The market in the region is also expected to expand at a significant rate, due to the contribution of countries such as the U.S. and their increasing adoption of air purifiers.

Europe, primarily driven by high income population in developed economies, is expected to follow North America in terms of market share. Europe is expected to be followed by Asia Pacific in terms of market share. The market in Asia Pacific is anticipated to expand at a prominent growth rate due to the increase in pollution due to rising industrialization in the region. The region has numerous cities that are badly hit by rising vehicular pollution. China and India are expected to contribute significantly toward  to the expansion of the market in the region.

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Major players operating in the global air purifiers market are Alen Corporation, AllerAir Industries, Austin Air Systems Ltd., Beijing YADU Science & Technology Co., Ltd., Blueair AB, COWAY Co., LTD., Camfil AB, Daikin Industries, Ltd., Eureka Forbes Ltd, Honeywell International, Inc., IQAir, Jarden Consumer Solutions (Europe) Limited, Koninklijke Philips N.V. and LG Electronics Inc. Other prominent players of the market are Panasonic Corporation, Rabbit Air, Samsung Electronics Co. Ltd., Sharp Corporation, WINIX Inc., and Whirlpool Corporation.

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Sauna Heaters Market Overview, Opportunity and Regional Forecast 2027

• A sauna is a timber-lined room also known as sudatory, which is heated in order to heat the body of the person inside it. It provides experience of dry or heat sessions. Saunas are mainly found in health clubs, community centers, or local gyms. The main part of any sauna is a heater which has a specific design to produce high temperature at constant rate. Production of heat and steam are the two main functions of sauna heaters. The most common sauna heaters are electric heaters.
• Sauna heater provides comforting heat and plenty of steam by adding water on the sauna rocks. Most sauna heaters are dry; traditional steam sauna needs some water every 2 to 6 minutes for steam production and to maintain humidity level according to the consumer’s preference. Benefits of sauna use include removal of toxins through sweating, and increased blood flow to the skin surface for blood circulation.

Key Drivers of the Global Sauna Heaters Market

• Saunas are increasingly becoming popular across the globe not just in spas and gyms, but also in people’s homes. The driving factors of the sauna heater market are growing awareness of saunas and sauna bathing, increasing usage of saunas in new residential construction, and growth in commercial use.
• The sauna and spa market is showing significant growth in recent years which is also an encouraging factor for the sauna heaters market. An increasing number of spas in developing countries also supports the growth of the sauna heaters market.

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Market in Asia Pacific to Expand Rapidly

• In terms of geography, the global sauna heaters market can be divided into five regions North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA)
• North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the sauna heaters market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the sauna heaters market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America sauna heaters market is segmented into Brazil, and Rest of South America.
• Currently, North America dominates the global market and is likely to continue its dominance in the coming years as well. However, the market in Asia Pacific is projected to expand at a significant growth rate during the forecast period, as emerging regions such as India and China are the foremost consumers of sauna heaters.

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Key Players Operating in the Global Market

Key players operating in the sauna heaters market are estimated to witness rising demand for sauna heaters during the forecast period, owing to the launch of latest sauna heaters that are expected to prompt customers to spend more on them. Manufacturers are focusing on the strategies of acquisitions, expansions, and collaborations with startup companies to gain significant share of the market. Additionally, manufacturers emphasize on driving consumer engagement by investing in product marketing, and in-store and online experience.

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High-definition Audio Products Market Trends, and Forecast 2020-2027

• High-definition audio products also known as high-resolution audio products is a technical and marketing term for audio greater than 44.1kHz sample rate or higher than 16-bit audio bit depth.
• In layman’s terms, The Digital Entrainment Group, Consumer Electronic Association, and The Recording Academy together have defined high-definition audio products as lossless audio that is capable of reproducing the full range of sound from recordings that have been mastered from better than CD quality music sources.
• The main benefit of high-resolution audio quality is the superior sound quality over compressed audio formats.

Key Drivers of the Global High-Definition Audio Products Market

• Increasing demand for high quality music, especially among audiophiles is one of the key reasons for the growth of high-definition audio products. Additionally, increasing demand for high quality wireless audio technology and devices have prompted the growth of high-definition audio products worldwide.
• Demand for such high quality wireless audio devices is not just from the residential segment but also from the commercial sector and niche segments such as security services and military departments. The automotive industry is also experiencing robust demand for high-definition audio speakers as well as music systems. This is helping in generating more traction for the growth of the high-definition audio products market.

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Affordability Issue of High-definition Audio Products Anticipated to Hamper the Growth of the Market

• One of the key factors hampering the growth of the high-definition audio products market is its affordability. These products are expensive in nature owing to their application, primarily in the niche market. File size is another concern. Unlike a normal audio file, a high resolution audio file can be typically tens of megabytes in terms of size which quickly eats up the storage of the device. Added to this, numerous high-resolution audio file formats are available to choose from, all of which have their own compatibility requirements. All these factors restrain the growth of the high-definition audio products market.

Increasing demand for all surround systems and other audio devices to offer attractive opportunities for the growth of the high-definition audio products market

• Increasing demand for sound bars and home theater systems in emerging economies could create lucrative opportunities for the growth of high definition audio products. Its commercial application especially in offices as well as in recreational spaces could also help in creating greater traction for the growth of the high-definition audio products market.

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Asia Pacific Offers Growth Avenues for the High-Definition Audio Products Market

• Geographically, the high-definition audio products market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA).
• North America and Europe boast some of the key manufacturers of high-definition audio products.
• Asia Pacific on the other hand is a prominent region that is home to some of the top consumer electronic companies specialized in the audio industry.
• Other regions such as South America and Middle East & Africa have strong potential growth for the high-definition audio products market.

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