Caster Wheels Market Future Scope, Top Key Players, Type, Application & Forecast 2028

The caster wheels market may record good growth across the forecast period of 2019-2028 owing to the plethora of advancements in terms of design and material of caster wheels. Caster wheels are attached to the bottom of a large object. These wheels are specially designed for moving large objects. Caster wheels are economical and have the potential of withstanding hard impact and abrasive conditions. They also offer floor protection. All these factors are the pillars of caster wheels market growth. The use of caster wheels across numerous end users such as medical, textile industry, food industry, automotive, aerospace, agricultural machines, and medical brings good growth opportunities for the caster wheels market.

This report offers useful insights into the influence of the novel coronavirus pandemic on the caster wheels market. It also focuses on various parameters such as key trends, competitive structure, regional assessment, etc. The segmental study enables an individual to thoroughly understand the different aspects of the caster wheels market systematically.

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Caster Wheels Market: Competitive Landscape and Recent Developments

The caster wheels market is a highly competitive landscape with numerous local and international players in the fray. Manufacturers of the caster wheels market are in constant pursuit of developing efficient caster wheels that adhere to the requirements of the end users in the best possible manner. Research and development activities are in full force for discovering new formulations and materials that resonate with superior quality standards at affordable prices.

Key players in the caster wheels market are Veekay Impex, Cascoo Europe GmbG, Steinco Paul vom GmbH, Brauer, DH Casters International, Rhombus Rollen Holding GmbH, Bestway Casters & Wheels Ltd., and Muvtons Castors Pvt. Ltd.

• Rockford Systems recently launched GermBlock Cough and Sneeze Shields with a caster wheel kit to add portability. This development explains the role of caster wheels in enhancing portability across various applications.

• Hamilton Caster recently introduced four new caster series and five new wheel series specially developed for safe transportation of heavy loads. The wheels are designed for 10 mph speeds.

Caster Wheels Market: Key Trends

The use of caster wheels in medical applications may gain traction across the forecast period due to the growing need for portable applications across the healthcare sector. The use of polyurethane caster wheels may also increase during the forecast period. Useful features attached to polyurethane caster wheels such as noise reduction, better grip, corrosion-resistant, and floor protection may act as growth generators for the caster wheels market.

The use of caster wheels to improve testing measures is also gaining considerable momentum. For instance, the Philippines Government recently adopted more than 130 specimen collection booths attached with caster wheels for easier mobility. The use of caster wheels for similar purposes may invite growth for the caster wheels market.

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The SARS-CoV-2 outbreak has resulted in great losses across all businesses. The caster wheels market is no exception. The lockdown relaxations may prove to be the light at the end of the tunnel for the caster wheels market as many manufacturing units have started operating. Thus, except during the lockdown period, the caster wheels market may steadily garner good growth across the forecast period.

Caster Wheels Market: Regional Outlook

The caster wheels market is geographically segmented into Asia Pacific, North America, Latin America, the Middle East and Africa, Western Europe, and Eastern Europe. North America and Europe may record substantial growth for the caster wheels market. The rising graph of growth across industries such as automotive and healthcare may serve as the prime growth factor for the caster wheels market in the region. Latin America is also anticipated for observing stable growth due to the availability of downstream operations.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

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Automotive Valve Lifter Market Business Planning, Services, Technology, Feature scenario Forecast to 2027

• A valve lifter, also known as tappet, or cam follower, is a key component in an internal combustion engine. A valve lifter is located between valve lifting mechanism and camshaft lobe.
• A valve lifter eliminates the need for mechanical clearance in the engine's valve train. It also protects the engine valve from thermal expansion normally witnessed in an engine, which is caused due to high temperature generated in the combustion chamber.

Key Drivers of Global Automotive Valve Lifter Market

• Demand for high performance engines and high power in automobiles is driving the market for automotive valve lifter. For instance, high performance vehicles, such as racing cars, that require the engine to deliver high power and performance, require a valve lifter with accurate timing, which ensures timely opening and closing of an engine valve. When a vale lifter is not functioning properly, the engine produces a knocking sound while starting. This indicates that either the engine oil needs to be replaced or valve lifter needs to be cleaned.
• Government regulations and standards have mandated an increase in fuel efficiency of vehicles, which in turn is driving the global automotive valve lifter market. For instance, Corporate Average Fuel Economy (CAFE) regulations across the globe are prompting automakers to enhance fuel efficiency of their vehicles in the time frame proposed by government and regulatory authorities. The National Highway Traffic Safety Administration (NHTSA) and the U.S. Environmental Protection Agency (EPA) have set standards to improve fuel economy and reduce emission gases for passenger cars and light trucks for all new models from 2017. India has also adopted CAFÉ regulations since April 1, 2017 in order to reduce average corporate CO2 emission caused by two-wheelers, three-wheelers, passenger and commercial vehicles. Similar norms are being adopted in several countries including China to reduce fuel consumption in vehicles.

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Roller tappets or roller valve lifters are gaining popularity among vehicle manufacturers owing to enhanced output performance and vehicle efficiency. Roller tappets can operate at high engine rpms ranging from 1500 to 2000. The only drawback being that roller tappets are expensive.

Rise in trends toward electrical vehicles to hamper global automotive valve lifter market

• Popularity of electrical vehicles is rising, as they are emission-free and are expected to reduce carbon footprint owing to increasing adoption. Norway, Germany, and China are key consumers of electrical vehicles. Electric propulsion also eliminates the IC-engine in vehicles and hence, a rise in preference toward electrical vehicles is expected to hamper the global automotive valve lifter market.

Passenger vehicle segment to account for significant share of automotive valve lifter market

• Increase in popularity of SUVs and hatchbacks in the Americas is driving the demand for SUVs and hatchbacks. Demand for premium sports cars is rising due to increasing standards of living and economic development in Europe and Americas. For instance, Ford Mustang, Chevrolet Camaro, and Audi A5 are a few of the models gaining popularity among consumers in Canada and the U.S.
• Economic development in countries such as India, China, Vietnam, and South Korea has led to improved roads and infrastructure. This, in turn, has fueled the trends of owning a vehicle, resulting in an increase in number of passenger vehicles. Therefore, a rise in the number of passenger vehicles is propelling the automotive valve lifter market.

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Asia Pacific to hold prominent share of global automotive valve lifter market

• Countries in Asia Pacific are enacting stringent regulations in order to reduce air pollution and curb climate change. For instance, government regulations such as CAFÉ and pollution control norms in countries such as China, India, and Japan are driving the need for fuel efficient, high-performance vehicles in the region. This, in turn, is fueling the demand for valve lifter that increases the efficiency, power output, and performance of vehicle engine.

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Automated Guided Vehicle Market To Show Strong Growth & Demand

According to the report, the global automated guided vehicle market is projected to reach ~US$ 4 Bn by 2027, expanding at a CAGR of ~14% during the forecast period, owing to an increase in the demand for automation in material handling and improved safety standards in manufacturing facilities and workplace. The automated guided vehicle market is highly technology driven, and original equipment manufacturers are strongly focused on enhancing the capabilities of their existing product portfolios

Expansion of Automated Guided Vehicle Market

Rising need for automation in material handling processes across various industries is a key factor that is propelling the automated guided vehicle market. Increasing demand for intelligent and customized AGVs and expansion of the manufacturing industry coupled with rapid expansion of e-commerce are offering significant opportunities to the market.

Penetration of AGVs is rising in the material handling and management industry. Furthermore, they are also being extensively utilized in several industries such as retail, manufacturing, healthcare, logistics, food & beverage, and aerospace. AGVs are employed in various areas across a facility including assemble, kitting, transportation, warehousing, staging, order picking and transferring load to support processing and handling. The use of AGVs helps eliminate risks arisen due to handling of materials manually. AGVs improve safety at the workplace, while optimizing the speed of the operation.

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e-Commerce companies are adopting automated guided vehicles as a key component in their growth and expansion, as AGVs can reduce their processing time. Expansion of e-Commerce industries are likely to offer significant opportunity to AGV manufacturers. Moreover, when it comes to retail, e-Commerce is the fastest distribution channel, and it is no longer restricted to developed markets of the U.S. and Europe. It has become a global phenomenon with high market penetration in APAC. Therefore, expansion of e-commerce and use of AGVs by e-Commerce players are projected to further offer considerable opportunities to the global AGV market.

Automated Guided Vehicle: Market Segmentation

Based on end use, the automotive segment held a leading share, owing to increased use of automated guided vehicles by auto manufacturers and auto part manufacturers. Adoption of automated guided vehicles enables auto manufacturers to lower production cycle time and help optimize the manufacturing process. In terms of type, the tugger AGVs segment is expected to hold a leading share of the global market during the forecast period.

Tugger automated guided vehicles, or towing vehicles, were one of the first type of AGVs introduced, and they are still highly popular. These AGVs can pull a multitude of trailer types and non-driven carts, which are charged with loads either automatically or manually. Tugger AGVs are highly productive, since they are capable of carrying more load than other type of AGVs. Tugger AGVs are highly efficient and have high load carrying capacity, as compared to that of conventional forklift trucks.

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Regional Analysis of Automated Guided Vehicle Market

In terms of region, the global automated guided vehicle market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Rise in the adoption of advanced technology coupled with a rise in purchasing power in developing countries is expected to boost the demand for automated guided vehicles in Asia Pacific and South America. These regions offer significant opportunities to the global market.

Key Players in Automated Guided Vehicle Market

Prominent companies operating in the automated guided vehicle market include Dematic GmbH & Co. KG, Toyota Industries Corporation, Swisslog Holding AG, Egemin Automation Inc., Oceaneering AGV Systems, Bastian Solutions LLC, Hyster-Yale Materials Handling Inc., JBT Corporation, E&K Automation GMBH, Seegrid Corporation, AGVE Group, Transbotics, Jungheinrich AG, Daifuku Co., Ltd., and AMERDEN Inc.

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Electric Vehicle Charging Station Market by Technology Innovations and Growth 2018 To 2026

Global warming has become a concern for countries across the world. In the last decade most developed and developing nations have taken onus to arrest the expanding carbon footprint. One of the several measures adopted by the leading nations is to ban diesel powered cars in the next 15-20 years. As a result, car manufacturers are rolling out hybrid or electric vehicles. This has created opportunities for the global electric vehicle charging station market.

The demand in the global electric vehicle charging station has been growing consistently, and is expected to grow at a stupendous CAGR of 10.19% during the forecast period. According to a Transparency Market Research report that was published recently, the global electric vehicle charging station market will surpass US$3bn by the end of 2026.

The rapid growth in the market is augmented by the stiff competition among the key players. As the sales figures for electric vehicles climb every year, the demand for charging stations will also shoot up. Sensing immense opportunities for business, prevailing players are adopting strategies to scale up their operations, while prospective players are striving to introduce innovative products. Considering the future will be electric vehicles, market players believe it is the right time to make the best move to grow their business.

The global electric vehicle charging station market is catching pace across the world. Primarily, the demand is high from Europe as some countries have announced ban on diesel automotive. North America is also swiftly reaching towards that status as people and the governments realize the need for electric vehicles.

 

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Thrust from Policy Makers to Garner Demand

It is proven that most developed and developing nations contribute for a significant proportion of the overall greenhouse gas emissions. In order to cut down on individual carbon footprint, governments of leading nations have announced policies that control industrial and vehicular pollution. Many countries expect to see electric vehicles on their roads by 2030. To facilitate this, they are urging automotive manufacturers to develop sustainable electric vehicles. This is increasing demand in the global electric vehicle charging station market.

Further, policy makers are introducing attractive subsidies and benefits to those purchasing electric vehicles. This attracts customers and influences them to choose electric vehicles over diesel cars. As a result, the global electric vehicle charging station market is expected to grow at an overwhelming rate. 

Public Transport to Create New Avenues

Public transport is one section of vehicle that account for huge volume of pollution. Therefore, countries are looking at introducing electric vehicles in the public transport. This will open fresh opportunities for players in the global electric vehicle charging station market. As public transport will require a large amount of fuel, they will have to be charged every night. This will fuel the demand in the global electric vehicle charging station market.

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Further, innovation is also stemming growth in the global electric vehicle charging station market. While the current demand can be met with the existing capacity of electric vehicle charging stations, companies will have to start thinking about the future to survive in the market. The need for high capacity charging stations will increase in the coming years. Hence, most players in the global electric vehicle charging station market are investing on research to develop high efficiency products.

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Personal Protective Equipment Market Report, History and Forecast 2020-2025

According to a new research study by Transparency Market Research (TMR), the increasing requirement of organizations to modify their business models in a bid to include frequently changing rules and regulations is fueling the demand for personal protective equipment across the world. The key players in the global personal protective equipment market, such as Avon Rubber, 3M Co., MSA SAFETY, Ansell Ltd., National Safety Apparel, National Safety Apparel, Kimberly-Clark Corp., Uvex Safety Group, Honeywell Safety Products, COFRA Holding AG, and Rock Fall Ltd. are working consistently to meet the demand of consumers.

Currently, these vendors are emphasizing on product innovation to strengthen their foothold in the market. Over the coming years, they are expected to involve increasingly into strategic partnerships to expand their regional boundaries, notes the market study.

As per the research report, the global market for personal protective equipment market stood at US$40.4 bn in 2016. The opportunity in this market is projected to expand at a CAGR of 7.0% over the period from 2017 to 2025 and rise to US$72.08 bn by the end of the forecast period. The manufacturing industry has surfaced as the leading end user of personal protective equipment and the scenario is anticipated to remain so over the next few years. Among products, the demand for fall protection equipment is relatively higher and researchers expect this trend to continue in the near future, states the research report.

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Implementation of Strict Workers’ Safety Rules to Fuel Demand for Personal Protective Equipment

“The rapid industrialization is the main driving force behind the growth of the worldwide market for personal protective equipment,” says an analyst at TMR. The increasing awareness among consumers pertaining to personal safety and the substantial increase in the manufacturing and the transportation sectors are also propelling the market considerably.

On the other hand, the volatility in the raw material prices may hamper the market’s growth in the near future. However, the increasing implementation of stringent rules and regulations for work place safety by several government authorities is anticipated to support this market over the forthcoming years, states the research report.

North America to Remain on Top

The research report also offer a geographical analysis of the global market for personal protective equipment. According to it, North America emerged as the leading regional market for personal protective equipment in 2016 and acquired a share of 38%. With the extensive uptake of personal protective equipment across a number of industries in this region, the North America market for personal protective equipment is anticipated to remain on the top over the next few years, reports the research study.

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The review is based on a report by Transparency Market Research (TMR), titled “Personal Protective Equipment Market (Product Type - Eye and Face Protection, Head Protection, Hearing Protection, Protective Clothing, Respiratory Protection, Professional Footwear, Fall Protection, and Hand Protection; Application - Construction, Manufacturing, Oil & Gas, Chemicals, Food, Pharmaceuticals, Transportation, and Healthcare) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025.”

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Interactive Kiosk Market Latest Trends and Competitive Analysis With Growth Forecast Till 2027

According to a new market report published by Transparency Market Research titled ‘Interactive Kiosk Market (Type: Floor Standing, Wall Mount, and Others; End-use Industry: Retail & Hospitality, Financial Services, Healthcare, Media, Communication & Entertainment, and Government) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027, the global interactive kiosk market is expected to reach US$ 43,697.0 Mn by 2027, expanding at a CAGR of 6.1% from 2019 to 2027. In terms of volume, the global interactive kiosk market is expected to reach 8,140.6 ‘000 units by 2027, expanding at a CAGR of 5.8%. Based on region, the global market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America.  

The interactive kiosk market in North America is mature and is the second-largest market globally. North America witnesses a significantly high number of non-cash transactions and this number is increasing owing to a surge in the use of interactive kiosks and ATMs. The U.S. dominates the interactive kiosk market in North America. In the U.S., as per the Diary of Consumer Payment Choice Report 2015 and 2018 by Federal Reserve, the market share of cash transactions have decrease to 30.0% in 2017 whereas share of debit and credit cards have maintained a market share of 45.0-48.0% between 2015 and 2017.

Interactive kiosks have been used for a long time in the U.S. Moreover, the versatility of interactive kiosks has been increasing for the last few years. A significantly high number of ATMs are in use in the U.S. Moreover, penetration of banking services is high in the U.S. According to the FDIC (Federal Deposit Insurance Corporation), survey in 2017: FDIC National Survey of Unbanked and Under banked Households, the share of unbanked households in the U.S. is only 6.5%. ATMs serve a major banking channel for consumers in the U.S. Consequently, the interactive kiosk market in the U.S is expanding.   

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Europe is the third-largest market for interactive kiosk, globally, and it is a mature market. Europe follows North America, in terms of number of non-cash transactions, globally. In Europe, the U.K., Germany, and France are prominent markets for interactive kiosks. The baking industry is mature in Europe, and ATMs are a major banking channel. Rise in card payment and mobile commerce is driving the demand for interactive kiosks. 

China is a prominent market for interactive kiosk in Asia Pacific, followed by Japan and India. In terms of ATM volume, China is a major market and accounts for more than 75.0% share of the global ATM market. India is also a prominent interactive kiosk market and demand for ATMs is increasing in India. In both China and India, rise in millennial population, increase in penetration of digital technologies, and government initiatives for financial inclusion are boosting the number of banking consumers. Consequently, banks are introducing ATMs in order to serve this large pool of new consumers. Japan is a major exception to this trend, as the number of ATMs has declined in Japan, as the cost and maintenance of an ATM in the country is higher than the fee it generates. The number of ATMs is expected to rise in other countries in Asia Pacific also, such as Myanmar, Bangladesh, and Pakistan. 

Middle East Africa (MEA) is a relatively minor market for interactive kiosk globally. However, countries in GCC (Gulf Cooperation Council), such as Saudi Arabia and the UAE, are witnessing an increase in the usage of interactive kiosks owing to a rise in globalization and entry of global retailers in the region. In terms of ATMs, countries in Africa, such as Algeria and Mozambique, are expected to witness expansion. 

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Brazil is a significant market in Latin America. Brazil accounts for a significant share of non-cash transactions across the globe. Rise in consumerism and banking penetration is driving the number of interactive kiosks and ATMs in Brazil.            

 The study provides a conclusive view of the global interactive kiosk market by segmenting it in terms of type and end-use industry. In terms of type, the global interactive kiosk market has been classified into floor standing, wall mount, and others. In terms of end-use industry, the global interactive kiosk market has been segmented into retail & hospitality, financial services, healthcare, media, communication & entertainment, and government.

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Consumer Electronics Market Research Along With COVID-19 Impact Analysis, Advancement and Outlook 2022

With a large number of small and large, regional and international, and old and new companies operating in the field of consumer electronics, it should not come as a surprise that the vendor landscape of the global consumer electronics market is highly fragmented and intensely competitive, observes Transparency Market Research in a recent report. So as to stay ahead amid the volatile operating conditions, companies have resorted to finding newer ways of enticing the rising consumer base of young and affluent middle-class people in emerging economies. Focus on marketing their products through e-commerce websites, which are increasingly becoming the most preferred mode of retail shopping in emerging economies, is gaining strength.

According to the report, the global consumer electronics market will rise to a revenue opportunity of US$1,550.34 bn by 2022, registering a CAGR of 4.0% from 2014 to 2022.

As even some of the world’s most renowned consumer electronics brands struggle to keep up with the low costs of the slew of new, innovative product varieties brought in by small and regional companies, focus has also increased on good collaboration opportunities with regional players.

Refinement of current product lines through the incorporation of technological advancements and development of product lines specifically suited to lucrative application areas such as IoT, connected devices, and in-car infotainment are also popular strategies adopted by companies operating in the market. Some of the leading companies in the market are Canon, Inc, Sony Corporation, Samsung Electronics Co. Ltd, Koninklijke Philips N.V., Apple, Inc, LG Corporation, Nikon Corporation, and Panasonic Corporation.

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Asia Pacific to Remain Most Lucrative Regional Market

Of the key product varieties in the market covered in the report, the segment of handheld devices is estimated to account for the dominant revenue share in the market presently. The segment is driven due to the massive surge in uptake of devices such as tablets, laptops, and smartphones on a global front. The sales of smartphones, especially, account for the dominant share and is likely to continue to account for a significant share of the overall market throughout the report’s forecast period.

From a geographical standpoint, the market in Asia Pacific is presently the most lucrative and is expected to remain so over the forecast period as well. Presence of large metropolitan areas and ever-expanding urban population will ensure that the benefits of economic development are reaped to the maximum. This is bound to have a positive impact on the consumer electronics market.

Rapid Pace of Development of Innovative Products to Drive Market

The chief forces working in favor of the global consumer electronics market include the rising convergence of entertainment, communication and information technologies, launch of innovative products, rising awareness about benefits of advanced technologies in enhancing work and daily lives, and increasing household incomes. Globalization of some of the most renowned consumer electronics manufacturers, which is allowing their reach to a larger global audience, is also largely favoring the expansion of the overall consumer electronics market. Consumer electronics represents one of the largest segments in the manufacturing industry, and has huge growth potential, particularly with innovative technologies and in emerging markets.

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The global consumer electronics market observes high demand for new technological advancements and innovative products. Demand for evolutionary versions of existing products and technologies is also high. Demand for innovative audio visual equipment is rising across commercial, residential, and automotive sectors. Moreover, the thriving IoT industry is also providing promising growth avenues to the global consumer electronics market.

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