Smart Water Meter Market Trends and Dynamics, Drivers

The demand within the global smart water meter market is rising on account of growing focus on water conservation across regional territories. The scanty levels of freshwater reserves across the world has generated a sense of alarm amongst the masses. Several international conferences and conventions have taken water conservation as an important agenda.

Furthermore, global leaders have engaged in pragmatic discussion and debate to resolve the water crisis that surrounds the world. Several countries in Africa are feared of running out of ample water resources over the course of the next few decades. Therefore, the global smart water meter market is growing as the need for optimization of water resources gains swing.

• Climate experts and environmentalists have predicted unfavourable patterns of rainfall over the next few years. Moreover, the growing dangers of acid rain have led conservationists to preserve the existing fresh water reserves. In this scenario, judicious usage of water across commercial, industrial, and residential domains has become a necessity. Smart water meters have emerged as an important technology that can change the way people consume water for their needs. These meters can help in measuring the requirements and usage of water across a particular locality during a given period of time. Smart water meters have been hailed as a central force that can foster sustainability across the planet.

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The development of smart cities across leading countries and territories has given an impetus to the sale of smart water meters. These meters are a part of the robust, succinct, and globally accepted ecosystem that surrounds a smart city. Smart water meters can function in sync with several other technologies such as smart electric meters. The ability of municipal bodies to gather insights about water usage across a locality shall play a vital role in driving demand within the market.

North America is expected to hold a major share of the global market for smart water meter during the forecast period. Leading share of the region is primarily attributable to strong presence of well-established players across the region, especially in the prominent economy i.e. the U.S. Moreover, the U.S. Government is investing heavily in deploying innovative smart water meters in place of older water meters across the country. North America is home to several well-established players that manufacture smart water meters, including Badger Meter, Inc., Sensus USA Inc., and Itron Inc. 

Furthermore, the region is witnessing high adoption of smart water meters due to continuously increasing government investments in the region. Several manufacturers in the region are focusing on enhancing the quality of their quality and developing innovative products to capture a wide customer base. For instance, in June 2018, Itron Inc. introduced an innovative product called Itron Intelis smart water meter at the AWWA Conference. Itron Intelis smart water meters offer additional water management capabilities and advanced metering infrastructure (AMI) through Gen5 networks and Itron’s interoperability.

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The report includes profiles of well-established players such as Kamstrup A/S, Diehl Stiftung & Co. KG, Badger Meter, Inc., Itron Inc., and Sensus USA Inc. These players are focusing on strategic partnerships. In 2017, Diehl Stiftung & Co. KG partnered with Abunayyan Holding Company, a Saudi Arabia-based provider of water-based solutions, as part of ‘Saudi Vision 2030,’ Saudi Arabia’s development program. As per this partnership, both companies would be collectively supplying more than 700,000 HYDRUS ultrasonic water meters to Saudi Arabia.

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Industrial Robotics Market Research Report 2020, Industry Trends, Share, Size, Demand and Future Scope

Industrial robots have a vital role to play in automation of industries, as several key operations are taken care of by industrial robots in several industries. Economic development in various countries offers promising growth opportunities to the global industrial robotics market. Rapid expansion of e-Commerce activities coupled with phenomenal growth of automotive and electronics industries is an added impetus to the global industrial robotics market.

Some of the renowned market players analyzed in the report on the global industrial robotics market are Yaskawa Motoman Robotics, Kawasaki Heavy Industries, Denso Corporation, Toshiba Machine Co., Ltd., Fanuc Robotics, and KUKA Robotics. The global industrial robotics market is projected to reach US$ 297 Bn by 2027. The market is likely to grow at a CAGR of ~9% from 2019 to 2027.

Growing Demand for Collaborative Robot to Drive Industrial Robotics Market

Collaborative robots are built to work alongside human beings through interaction in a shared workspace. Collaborative robots have the ability to automate the work easily and hence, are used in variety of applications such as packaging, pick and place, screw driving, assembly, lab testing, and quality inspection. Furthermore, collaborative robots help companies to enhance the production output with high levels of work safety, as these robots can perform repetitive work at a faster pace. Demand for collaborative robots is continuously on the rise in different industry verticals including retail, healthcare, automotive manufacturing, and several others, owing to their numerous benefits and associated applications. Several manufacturers operate in the industrial robotics domain such as Universal Robots, KUKA AG, and Franka Emika GmbH, who offer a wide variety of collaborative robots for various industries.

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Extensive Deployment of Industrial Robots in Manufacturing Units Drives Market in North America

Based on region, the global industrial robotics market has been segmented into Latin America, Middle East & Africa, Asia Pacific, Europe, and North America. Regional segmentations are likely to facilitate better understanding of market dynamics at play in each of the regions during the forecast period.

According to the findings of the Association for Advancing Automation, around 27,294 robots were ordered in the first nine months of 2019. These robots were valued at around US$ 1.473 Bn. North America is likely to lead the global industrial robotics market in the coming years. Substantial reliance of North American manufacturing units on advanced and innovative technological solutions to generate high quality output at reduced cost is fueling the market. Increased implementation of advanced software programs to stay ahead of competition is responsible for growth of the industrial robotics market in North America.

Modern manufacturing facilities in North America substantially depend on new innovative technologies to produce higher quality products at high speed and reduced costs. Manufacturing facilities are implementing more intelligent software and hardware to survive in the current competitive scenario.

Likewise, Europe is also expected to account for a large share of the market. In 2017, around 170,000 robots participated in the production process of the automotive industry in Europe. Such high levels of robotic participation is a manifestation of the market prominence in the region.

According to TMR analysts, in terms of density of industrial robots, South Korea is estimated to retain its leading position during the assessment period.

High Cost of Human Labor to Bolster Demand for Industrial Robots

The expansion of the global industrial robotics market is stimulated by heightened activities in the factory automation sector. The global industrial robotics market is poised for considerable growth in the near future with the growing human-machine interaction together with cloud technology improving control of hardware.

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High cost of deploying manual labor coupled with the cost incurred on health insurance, paid leaves, compensations, training, conferences, and promotions is a financial burden on companies. These factors that emerge with the employment of human labor are expected to pave the way for large-scale deployment of industrial robotics in the coming years. Unlike industrial robots, human labor is incapable of working in adverse conditions or in high-risk zones. Day-to-day completion of the same tasks leaves workers with a mutinous and dull feeling, which lowers productivity. More manufacturers are therefore utilizing industrial robots in view of these negative aspects of human labor.

Furthermore, rapid growth in semiconductor and electronics industries has propelled the growth of the market. Both the industries are massive demand generators for industrial robotics.

Advent of artificial intelligence and digitization has made a marked difference in the performance of industrial robots with increased output and high quality. Shift in the automotive industry toward electric and autonomous automotive is generating considerable growth opportunities for the global industrial robotics market. The automotive manufacturing industry is another leading demand generator for industrial robots.

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Automotive Lubricants Aftermarket Market: Top Growth Pockets Promising Industry Dominance 2020-2026

The global automotive lubricants aftermarket was valued around US$ 82 Bn in 2016 and is anticipated to expand at a CAGR of 4% from 2018 to 2026, according to a new report by Transparency Market Research (TMR) titled ‘Automotive Lubricants Aftermarket - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2026.’ Lubricant is a substance that is made up of base fluids and additives. A typical lubricant composition consist of 80% to 90% base oil and the rest is additives, However, this composition is subject to change as per the application. Lubricants are used for their ability to increase the operating lifespan of mechanical parts.

They are used to minimize the friction between parts in contact with each other, thus eliminating wear and prolonging lifespan by Robust economies of countries such as China, India, Brazil, and Middle East have increased disposable income of the population, resulting in higher car ownership.This, in turn, has been augmenting the consumption of automotive lubricants in recent times. Rise in demand for lightweight and high performance vehicles mandates the use of high-quality lubricants. This is a key factor propelling the consumption of automotive lubricants.

Increasing Motorization Rate Coupled with Sales of New Vehicles and Established World Vehicle Fleet

Increase in demand for vehicles due to economic prosperity economy and increasing purchase power have resulted in higher car ownership. The global motorization rate i.e. vehicle ownership per 1000 inhabitants increased to 182 per thousand inhabitants in 2015 as against 178 in the previous year. Europe and North America are mature regions of the market for aftermarket automotive lubricants, with car ownership rates as high as 580 and 680 per thousand inhabitants in 2015. Low penetration of automotive vehicles, particularly in regions such as Latin America, Asia, and Middle East & Africa, presents significant opportunities for the automotive lubricants aftermarket. For instance, the motorization rate in Asia, Africa, and Latin America stood at 105, 42, and 176 per thousand inhabitants, respectively, in 2015. Along with this, accelerating economy, rapid urbanization, and increasing per capita income may compel individuals to own a vehicle. This, in turn, is expected to create an incremental market opportunity for the automotive lubricants aftermarket in the near future.

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Longer Oil Drain Intervals May Dampen Market Expansion, but Increasing Penetration of Synthetic and Semi-synthetic Automotive Lubricants Offers Future Expansion Opportunity

Lubricant oil chemistry and engine technology have evolved tremendously in recent years, resulting in improved engine oil drain interval. During the 1950s, a truck engine oil change would have to be performed for every 500 miles. But those days are gone. Currently, it is possible to achieve an oil drain interval as high as 50,000 miles in heavy duty vehicles. Factors that have resulted in improved oil drain interval include cleaner fuels, higher quality lubricants, more dependable engines, and improved filter technology. The standard oil drain interval is 25,000 miles. However, various factors such as engine design, vehicle age, condition, driving patterns, and oil properties are known to affect the engine oil drain interval. Oil service intervals are pre-determined by engine manufacturers and are designed to provide optimum engine protection within intervals.

Majority of the vehicle owner tend to follow these instructions, However, there has been growing trend of lengthening the oil service intervals beyond the OEM specifications. Extended oil drain intervals help fleet owners to reduce their operating and maintenance costs, mainly by keeping cars and trucks on road for longer. Improvement in engine oil drain interval is expected to decrease consumption of engine oils in commercial vehicles. This is anticipated to eventually decrease the consumption of lubricants during the forecast period and may dampen demand for aftermarket automotive lubricants.

A lubricant is a package consisting of base oil and certain additives to improve performance. Although, mineral-based automotive lubricants have been dominating the market due to their reasonable prices, there has been a shift toward the usage of synthetic and semi-synthetic based lubricants. As modern light weight vehicle engines are put under enormous stress, automakers worldwide are shifting toward less viscosity lubricant grades, which require synthetic base oils to meet mandated fuel economy standards and emission requirements. Demand for synthetic lubricants is high in North America and Western Europe. Europe is a prominent consumer of synthetic and semi-synthetic automotive lubricants in the aftermarket. In 2015, fully synthetic lubricants accounted for more than 10% of the market in Western Europe, with semi-synthetics accounting for market share of around 25%. Automakers across the globe are emphasizing on engine downsizing, which requires lower viscosity grade oils. This is likely to present further opportunities for synthetic lubricants over the forecast period.

Engine Oil Segment and Increasing Global Vehicle Count of Passenger Cars Driving Major Chunk of the Revenue

In terms of type, the automotive lubricants aftermarket can be divided into engine oil, gear oil, transmission fluid, and others (including coolants, greases, and brake oil). In terms of volume, the engine oil segment dominated the automotive lubricants aftermarket, capturing more than half of the market share in 2017. This is primarily attributed to the fact that capacity of engine for lubricants is higher than that for gearboxes or axle cylinders. Engine oils require frequent draining and replacement than gear oil and transmission fluid, since they protect the engine from friction wear and tear. Hence, requirement of engine oils is higher than that of gear oil and transmission fluid. In terms of application, the global passenger vehicle count stood at 947,080 thousand units in 2017 against the commercial vehicle count of 335,190 thousand unit for the same year. Hence, the overall automotive lubricants aftermarket, in terms of consumption, is dominated by the passenger cars segment due to the sheer number of existing units.

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Expansion of Automotive Sector Driven by Emerging Nations of Asia Pacific is anticipated to drive the Automotive Lubricants Aftermarket in the Region

In terms of revenue and volume, Asia Pacific dominated the global automotive lubricants aftermarket in 2017, constituting more than 30% market share. The global vehicle fleet count, including passenger cars and commercial vehicles, in Asia Pacific stood at 384,318 thousand units in 2015 against 359,927 thousand unit for the previous year. The vehicle fleet in operation in Asia Pacific is nearly one third of the global fleet. In order to operate and maintain this humongous vehicle fleet, it has to be fed with lubricants at frequent time intervals. Also, some of the countries in the region such as China and India have witnessed a tremendous growth of 15.6% and 9.9% in its passenger vehicle fleet count, which is indicative of promising expansion of the automotive lubricants aftermarket in the region.

Consolidated market with the top few players accounting for more than 70% of the market Share

The global automotive lubricants aftermarket is a highly organized market, with the top players accounting for majority of the market share. Key players in the Automotive Lubricants Aftermarket are Royal Dutch Shell plc, ExxonMobil Corporation, BP p.l.c., Chevron Corporation, Total S.A., Sinopec Corporation, Fuchs Lubricants Co., LUKOIL Oil Company, Valvoline, Phillips 66, Bharat Petroleum Corporation Limited, JX Nippon Oil & Energy Corporation, Repsol S.A., Petrobras, Petronas, and Indian Oil Corporation Limited. With plummeting crude oil reserves, the global lubricant market is facing a tight supply of raw materials. In order to overcome this, major oil companies are shifting their focus on the development of new refining techniques and sources. This trend has resulted in establishment of new refining technologies that are patented by established players to produce high performance automotive lubricating oil.

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Driver Assistance System (DAS) Market: Leading Segments and their Growth Drivers 2020-2026

According to a new market report published by Transparency Market Research, “Global Driver Assistance System (DAS) Market for Locomotive - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026” expanding at a CAGR of 9% during the forecast period. In terms of revenue, the market is expected to reach US$ 18 Mn by 2026.

The global driver assistance system (DAS) market for locomotive is projected to expand at a CAGR of 9% between 2018 and 2026, according to a new research report by Transparency Market Research (TMR). According to the report, the global market is likely to be influenced by a range of political, economic, social, technical, and industry-specific factors. Latin America is expected to witness rapid rise in demand for driver assistance system in public transits such as trains, with the market in the region anticipated to expand at a CAGR of 27% during the forecast period.

Human safety is of utmost importance for any industry. Trains are considered to be a risky mode of transportation. Control over a train cannot be achieved within possible time due to its speed and size. This is supported by the statistics on the fatalities caused by train accidents. In 2016, more than 50,000 people lost their lives due to rail accidents. In the 28 nations of the EU, 1,723 persons were killed in train accidents, which is 6% rise from the previous year (2015). India has serious issues associated with rail transportation. Every year, more than 15,000 people in India lose their lives owing to train-related fatalities.

There needs to be a system which can monitor the train and improve driving conditions for the driver and traveling conditions for passengers. Driver assistance systems provide greater functionality and effectiveness for trains. Various regulations are imposed by regulatory bodies on the automotive industry and mandated several systems or applications for vehicles to curb the accident rate. Such regulations are likely to be imposed on trains. However, train component manufacturers need to include DAS in old running and new trains in order to comply with such regulations. This is likely to boost the driver assistance system (DAS) market for locomotive.

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Developing and under-developed countries in Latin America are more focused on implementation of long-distance trains in the region. Governments of countries such as Chile and Argentina are spending more on railways in their budgets. Expansion of the IT sector is providing a boost to the economy in the region. Usage of suburban, monorail, and metro as modes of public transit is increasing in order to commute within urban areas. Monorails are highly preferable in the city with less population and space. Trams are an older mode of public transport. Trams are not suitable for large cities or metropolitan areas. Therefore, the tram segment is likely to expand at a sluggish pace, as compared to other train type segments. Older trams are likely to be equipped with DAS. In terms of revenue, the long distance train segment is expected to reach US$ 3.6 Mn by the end of 2026, expanding at a CAGR of more than 20% during the forecast period.

Based on DAS application, the driver assistance system (DAS) market for locomotive can be segregated into emergency braking, automatic door open & closure, switch detection, rail detection, fog pilot assistance system, rail signal detection, and anti-collision system. The DAS has various applications in trains such that one or more than one application is integrated within the train. Rail signal detection system is a recently evolved application and the segment held a minor share of the market in 2017. It is likely to expand at a higher growth rate during forecast period. In terms of DAS component, the LiDAR segment is expanding at significant pace due to its multi-functionality and declining price.

Europe held a major share of the global driver assistance system (DAS) market for locomotive in 2017. Countries in Europe exhibit greater awareness about the environment. Therefore, people in the region are more inclined toward using public transport instead of personal vehicles. Increase in public transport is estimated to boost the usage of trains in the region. The human safety body of the European Union has mandated some norms for component manufacturers to include driver safety modules including some DAS applications for trains. This is likely to boost the market. Revised taxes, expansion of business during Brexit, and tariffs imposed by the U.S. on the nations in Europe are expected to hamper the production and sales of components/technology in Europe, which in turn is anticipated to hamper the driver assistance system (DAS) market for locomotive. Governments establish IT zones outside major cities, which increases the border of cities in countries such as India, Large population, large area, increased distance between cities, raising wages, increasing purchasing power, and increased in standard of living are key factors that drive the market in Asia Pacific.

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Advancements in processes used to manufacture driver assistance systems, development in the materials utilized to produce the components that are employed to manufacture DAS, and development in design of systems that are compact and highly effective are fueling the driver assistance system (DAS) market for locomotive.

The global driver assistance system (DAS) market for locomotive is highly cohesive as design, analysis, and manufacturing of the driver assistance system requires advanced technology, highly equipped labs, high investment, considerably skilled workers, and high precision. Moreover, the market witnesses the presence of major manufacturers working in the transportation industry for several years. Major share of the driver assistance system (DAS) market for locomotive is held by major manufacturers. Major players operating in the driver assistance system (DAS) market for locomotive include Thales Group, Alstom S.A., Hitachi Ltd, Bombardier Transportation, Ansaldo STS, SIEMENS AG, Mitsubishi Electric, CRRC Corporation Limited, Kawasaki Heavy industries, Ltd., General Electric, ABB, Construcciones y Auxiliar de Ferrocarriles, S.A., CalAmp, Beijing Traffic Control Technology Co., Ltd, Bharat Forge limited, Wabtec Corporation, SBB, Robert Bosch GmbH, Knorr-Bremse AG, and Woodward, Inc.

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Ride sharing Market: High-growth Regions to Expand Geographic Footprint 2020-2026

The way people move around or commute to work is rapidly changing. Companies like Ola and Uber are offering a substitute of the conventional taxi services. These companies are offering ride hailing or ride sharing. The growing need to control the traffic congestion in the urban areas together with demand for reasonably priced yet comfortable mode of commute are likely to boost the global ride sharing market.

Ride sharing services have come a long way since its inception decades ago. Today the services are offered with the aim of profit making. A third part operated app or website charges a fee for connecting drivers and passengers.

Uber Technologies Inc., Beijing Xiaoju Technology Co, Ltd., Beijing Xiaoju Technology Co, Ltd., ANI Technologies Pvt. Ltd. (Ola), Curb Mobility, LLC, and Lyft, Inc. are some of the companies profiled in the global ride sharing market.

Transparency Market Research has come up with an all-inclusive study on the global ride sharing market, for the period 2018 to 2026. The report estimates that the global ride sharing market is likely to expand at a rapid growth rate.

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Presence of Untapped Market Makes Asia Pacific a Lucrative Region in the Market

Considering geographical segmentations, North America driven by the U.S. is estimated to account for a large share of the global ride sharing market in the years to come. However, it has been estimated that Asia Pacific will surpass North America over the tenure of assessment. In North America, companies like Lyft and Uber are likely to occupy a major share of the market in North America in the years to come.

Asia Pacific is estimated o emerge as a highly promising region in global ride sharing market in the years to come. Asia Pacific is home to two of the most populous countries of the world, namely India and China. China has already emerged as a dominant country in the regional market and the upward trend of the market in China is expected to continue even in the years to come. India is another country that is estimated to rise to prominence rapidly over the period of assessment. The market in Asia Pacific is yet to be exploited to its full potential, which is why the ride sharing market offers lucrative growth opportunities for the market players.

Emergence of Smart Technologies to Boost Growth of the Market

The global ride sharing market is anticipated to be influenced by the inability to own a personal four wheeler or two wheeler, particularly among the low and middle income families. Speed of faster network together with the penetration of global positioning system, and increased penetration of smartphones are likely to work in favor of the global ride sharing market in the years to come. It has become possible to book ride from anywhere and at any point of time. Furthermore, the safety of passengers has also been enhanced with the emergence of GPs technology, which makes tracking of the vehicle easier.

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Fluctuations in the price of fuels, raid expansion of the working class people together with rise in the traffic congestion in the urban areas is likely to propel growth of the market in the years to come. In addition, there exists limited provision of public transport in many of the countries, which is likely to add to the growth of the global ride sharing market in the years to come.

The information shared in this review is based on a TMR report, bearing the title, “Ride sharing market (Commuting Distance – Intercity and Intra city; Service Provider - OEM and Private; Vehicle Type - Sedan and Hatchback, Utility Vehicle (UV), Van, Buses and Coaches; Autonomy Level – Manual and Autonomous; Operating Body – Government and Private; Electric Vehicle Type - Hybrid Electric Vehicles (HEV) and Plug in Electric Vehicles (PEV); Business Model - Peer to Peer (P2P), Business to Business (B2B), and Business to Consumer (B2C)) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2018 to 2026”

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Candle Market: Factors Helping to Maintain Strong Position Globally 2020-2026

Transparency Market Research has published a new market research report titled ‘Candle Market (Type:Tea Lights, Votive, Pillars, Birthday Candles, Cartridge Candles, Wax Filled Container Candles, and Others; Raw Material: Beeswax, Stearin, Paraffin Wax, Rapeseed Wax, Palm Wax, Soy Wax, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018– 2026.’ According to the report, the global candle market is anticipated to reach US$ 13,619.3 Mn by 2026. The market is expected to expand at a CAGR of 6.0% from 2018 to 2026. 

Based on type, the candle market has been classified into tea lights, votive, pillars, birthday candles, cartridge candles, wax filled container candles, and others. Tea lights, votive, and wax filled container candles are expected to expand at a faster rate in the near future. Increase in usage of candles at special occasions, events, festivals etc. is anticipated to boost demand for candles. In addition, rise in popularity of scented candles and decorative candles and new areas of application for candles are key factors expected to fuel the growth of the candle market during the forecast period.

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In terms of raw material, the candle market has been divided into beeswax, stearin, paraffin wax, rapeseed wax, palm wax, soy wax, and others. Paraffin wax is the most common raw material used in the production of candles. It is a by-product of petroleum and very economical in nature. Apart from paraffin wax, stearin is also frequently used by candle manufacturers across the world. In developed economies, there is a rise in demand for beeswax as it is organic in nature and improves air quality. 

Earlier, candles were a functional product and only to be used as a source of light. These days, candles are not just a functional product, but a decorative product. Appearance and fragrance are the two important factors which consumers demand. Different shapes are introduced to cater to the customized demands of clients.Scent infused candles are mostly preferred due to their added characteristic to lighten the mood. Aromatherapy treatment also employs scented candles which help to release stress. The market for aromatherapy has grown rapidly, which has increased the consumption of aromatic candles.Aromatic candles aid in managing mental and physical stress and tension.

Based on geography, the candle market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Europe is a dominant region of the candle market. The market in the region is projected to expand at a gradual CAGR of 6.0% in terms of value. The market in North America is expected to expand at a considerable CAGR of 5.9%, due to increase in consumption of eco-friendly candles in the region. According to the report, the candle market in Asia Pacific is projected to expand at a CAGR of 6.2% in terms of revenue in the near future. The market in South America is likely to expand at a CAGR of 5.8%. The market in Middle East & Africa is anticipated to expand at a CAGR of 5.7% in terms of value.

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Some of the prominent players operating in the global candle market include Vollmar GmbH, Baltic Candles Ltd, Bolsius International BV, Delsbo Candle AB, Duni AB, Hansa Candle AS, KORONA Candles S.A., Ceras Roura, Contract Candles Ltd, and Candle Scandinavia Group AB. These players are estimated to face healthy competition in the near future due to presence of a large number of local players in the market. Major brands are likely to focus on research & development to strengthen their foothold in the global candle market. Companies are undertaking mergers and acquisitions, and joint ventures with local players to expand their product portfolio. Producers in developing countries are focusing on reducing their cost of production and increase profitability for the sustainable growth of their business.

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Smoking Cessation and Nicotine De-Addiction Market: Consumption, Sales, Production, and Other Forecasts 2020-2026

According to a new market report published by Transparency Market Research titled ‘Smoking Cessation and Nicotine De-Addiction Market [(Products (with Nicotine) -  (OTC Products and Prescription Products); (OTC Products - E-cigarettes, Nicotine Gums (NRT), Nicotine Patches (NRT), Nicotine Lozenges (NRT) and Nicotine Tablets (NRT)); (Prescription Products - Nicotine Sprays (NRT) and Nicotine Inhalers (NRT))]; [Products (without Nicotine) – (Prescription Products -  Zyban and  Chantix)] – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026, the global smoking cessation and nicotine de-addiction market is expected to reach US$ 13,657.6 Mn by 2026, expanding at a CAGR of 4.5% from 2018 to 2026. The market is segmented by regions into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America. 

The North America smoking cessation and nicotine de-addiction market is the largest in the world. In North America, nicotine containing smoking cessation products hold a major market share. In North America, OTC smoking cessation and nicotine de-addiction products hold a significant share of the market compared to nicotine containing prescription smoking cessation products.

E-cigarette is the most dominant type of nicotine containing OTC smoking cessation product in North America. The U.S. is the largest smoking cessation and nicotine de-addiction market in North America and the world. Canada is the second largest smoking cessation market in North America. The smoking cessation and nicotine de-addiction market in Europe is the second largest in the world. 

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In the Europe smoking cessation and nicotine de-addiction market, nicotine containing OTC products hold a prominent share compared to nicotine containing prescription products. Nicotine containing OTC products such as e-cigarettes, nicotine gum, nicotine transdermal patches, nicotine lozenges, and nicotine tablets are most popular among European consumers. The number of e-cigarette consumers is increasing in major European countries. EU e-cigarette regulations apply to EU countries and are not applicable in the U.K. after Brexit. The U.K. is the second largest smoking cessation and nicotine de-addiction market in the world after the U.S. and the largest market in Europe. France and Germany are the second and third largest smoking cessation markets in Europe. 

The Asia Pacific smoking cessation and nicotine de-addiction market is the third largest market in the world. In the Asia Pacific smoking cessation and nicotine de-addiction market, nicotine containing OTC products hold a dominant share compared to nicotine containing prescription products. Nicotine containing OTC products such as e-cigarettes, nicotine gum, nicotine transdermal patches, nicotine lozenges, and nicotine tablets are increasing their penetration in the Asia Pacific region. China is the largest smoking cessation and nicotine de-addiction market in Asia Pacific. Japan and India are the second and third largest smoking cessation markets in the region. 

In MEA, it is estimated that 180 million men are expected to be smokers by 2025 which is 2X the number of smokers in the region in the year 2000. In 2002, the tobacco market in MEA was worth US$ 15.3 billion which increased to US$ 28.7 billion in 2009 and is expected to reach US$ 50.0 billion in 2020. As tobacco consumption is increasing in MEA, ill effects of tobacco are bound to increase, which is expected to drive the demand for smoking cessation and nicotine de-addiction products in the region. 

The South America smoking cessation and nicotine de-addiction market is the smallest in the world. Brazil is the largest smoking cessation and nicotine de-addiction market in South America. 

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The study provides a conclusive view of the global smoking cessation and nicotine de-addiction market by segmenting it in terms of product type and distribution channel. In terms of product type, the global smoking cessation and nicotine de-addiction market has been classified into products (with nicotine) and products (without nicotine). Products (with nicotine) are further sub-segmented into OTC products and prescription products. OTC products are categorized into e-cigarettes, nicotine gums (NRT), nicotine patches (NRT), nicotine lozenges (NRT), and nicotine tablets (NRT). Similarly, prescription products are divided into nicotine sprays (NRT) and nicotine inhalers (NRT). Products (without nicotine) are prescription products and are segmented into Zyban and Chantix. By distribution channel, the global smoking cessation and nicotine de-addiction market is segmented into online and offline. NRT stands for products that help to reduce the urge for smoking i.e. nicotine replacement therapy (NRT).         

The report highlights major companies operating in the global smoking cessation and nicotine de-addiction market including Pfizer Inc., GlaxoSmithKline plc (GSK), Cipla Ltd., Johnson & Johnson (J&J), ITC Ltd., Takeda Pharmaceutical Company Ltd., Alkalon A/S, 22nd Century Group, Inc., Strides Pharma Science Ltd., and JUUL Labs, Inc.   

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