Farm Tire Market 2020 Global Size, Share, Industry Growth, Competitive Landscape and Outlook 2025

Transparency Market Research has published a new report titled, “Farm Tire Market [Application: Tractors, Harvesters, Implements, Irrigation, Forestry, Others; Tire Type: Radial and Bias; Equipment Horsepower: 0-80Hp and 80-200HP; Sales Channel- OEM and Aftermarket] – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2025.” According to the report, the global farm tire market is projected to reach US$ 10 Bn by 2025, expanding at a CAGR of 4.94% during the forecast period.

According to the report, the global farm tire market is likely to be driven by a range of macroeconomic and industry-specific factors. Europe is expected to be at the forefront of global demand, with the market in the region expanding at a CAGR of 5.43% between 2018 and 2025.

Increasing demand for agricultural products led by rising population across the globe is anticipated to be a major driver of the farm tires market during the forecast period. Moreover, encouraging government policies, such as subsidies on agricultural products and agricultural machinery, are estimated to trigger the adoption of farm tires. Governments of developing countries, generally, provide attractive financing options with low interest and subsidies on farming equipment in order to augment the production of farms and to cater to the demand for food by the growing population.

Economic expansion has propelled the investment for the improvement of agricultural infrastructure across the globe, specifically across developing countries, which are witnessing heavy investment in agricultural equipment. This, in turn, is anticipated to boost farm tire market during the forecast period.

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Growing population is projected to fuel the need for agricultural products in the next few years. Since automation is the only way to increase agricultural productivity and meet the requirements of the growing population; demand for agricultural machinery including tractors, harvesters, Implements, and others is anticipated to rise significantly during the forecast period. Furthermore, the Chinese government provides subsidy on agricultural machinery. Greater encouragement for export along with expansion of the agricultural service industry are anticipated to boost the agricultural output during the forecast period. Rapid urbanization, surge in incomes, and increased demand for processed food are likely to boost agricultural activities, which in turn is expected to propel the use of various agricultural vehicles during the forecast period.

Bias tires can operate at lower speeds and are less susceptible to wear and tear from rocky terrain. Moreover, they are less expensive as compared to radial farm tires and therefore, currently, dominate the farm tire market. Radial farm tires are expensive; however, they offer 10% to 15% more traction than bias tires, thus improving efficiency by saving fuel. Furthermore, they have a longer tread life, better wear durability, and provide a smoother ride. Consequently, an increasing number of farmers are switching to radial farm tires. Thus, their demand is expected to rise during the forecast period.

Based on sales channel, the farm tire market has been segregated into OEM and aftermarket. The aftermarket segment dominated the farm tire market. It is expected to maintain its dominance during the forecast period. Farm tires need to be replaced frequently, as they undergo wear & tear due to their operation under heavy load and on rough terrain. Moreover, increasing awareness about vehicle maintenance and establishment of aftermarket dealers in developing countries are expected to propel the aftermarket segment during the forecast period.

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In terms of region, the global farm tire market has been divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Rise in agricultural activities, industrialization of agribusiness, along with the presence of major tire manufacturers and tractor and farm related equipment manufacturers in India and China are projected to boost the farm tire market during the forecast period. Use of modern farm machinery along with continuous development in the field of tractors and farm-related equipment in North America and Europe are anticipated drive the farm tire market in the respective regions.

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Tire Pressure Monitoring System Market: Key Strategies to Use to Dominate Globally 2020-2026

According to a new market report published by Transparency Market Research , “Tire Pressure Monitoring System Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026” is expected to surpass US$ 8 Bn by 2026, expanding at a CAGR of more than 4% during the forecast period.

The global tire pressure monitoring system market for automotive is projected to expand at a CAGR of more than 4% 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 likely to witness rapid rise in demand for tire pressure monitoring system, with the market in the region anticipated to expand at a CAGR of about 7% during the forecast period.

Vehicle tires functioning below the prescribed inflation level place the complete performance of automobile and the safety of passengers at danger. The tire pressure monitoring system of the vehicle assists in increasing safety on the highway by enhancing the vehicle’s motility, decreasing its braking displacement, reducing the wear of tires, and enhancing fuel economy of the vehicle.

The direct tire pressure monitoring system segment accounts for a majority share of more than 75% of the market. The direct tire pressure monitoring system takes help from sensors fitted inside the assembly of tire to transmit information about tire pressure to the vehicle’s computer. It is the simplest and more accurate method used to monitor tire pressure, as compared to that utilized in the indirect method. Consequently, the direct system has significant penetration in the market.

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The conventional tire pressure monitoring system segment dominates the market. Easy availability and cost-efficiency are key factors responsible for the higher share held by the conventional tire pressure monitoring system segment, as compared to the intelligent tire pressure monitoring system segment, of the market.

The passenger vehicles segment held more than 70% share of the global market in 2017. Tire pressure monitoring system is an additional safety feature provided in the vehicle. Majority of OEMs provide this feature as optional in passenger vehicles. The U. S. is home to a significant number of with commercial vehicles, and the tire pressure monitoring system is mandatory in all vehicles in the U. S. Therefore, the commercial vehicles segment held a relatively higher share of the tire pressure monitoring system as compared to the vehicle production ratio of commercial vehicles and passenger vehicles.

In terms of volume, the OEMs segment is likely to lead the market, as most OEMs, such as GMC and Ford, provide the vehicle with safety features, such as tire pressure monitoring system. The segment accounted for more than 60% share of the market, in terms of volume, in 2017. The tire pressure monitoring system has a lifespan that is almost one-third to that of the vehicle, i.e., three to four years. The tire pressure monitoring system can only be replaced when there is fault in the technology, or the tires are replaced, as per consumer’s choice. Consequently, the replacement of tire pressure monitoring system is rare.

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In terms of region, the global tire pressure monitoring system market for automotive can be segregated into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. The global tire pressure monitoring system market was dominated by Asia Pacific, and held more than 33% share, in 2017. The penetration of tire pressure monitoring system is low in Asia Pacific; however, the region dominates the global market due to large production of vehicles.

Development in the dimensions of tire pressure monitoring system, advancement in the materials and use of such materials to fabricate the components of tire pressure monitoring system, improvements in procedures utilized in the production of tire pressure monitoring system, and usage of highly developed designs of tire pressure monitoring system are powering the technological development of the tire pressure monitoring system for automotive.

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Automotive Water Separation Systems Market: Leading Segments and their Growth Drivers 2020-2027

 Automotive water separation system is a product that is primarily deployed for ensuring the fuel purity in a vehicle. It helps in maintaining the engine functions and helps it last longer. These systems are installed for the protection of engines. The system removes or separates water and other solid contaminants in the fuel before it is injected in the engine. This not only ensures the quality of fuel that the engine receives but also helps it run smoothly for a longer time.

Global Automotive Water Separation Systems: Notable Developments

Some of the notable developments of the global automotive water separation systems market are listed below:

• In August 2019, MANN+HUMMEL, a big brand in the global automotive water separation systems market, announced that the company has successfully completed the acquisition of Hardy Filtration, a Canada based company. This move is expected to enhance the brand value of MANN+HUMMEL across the globe. It is also expected to expand the production capacities of Tri-Dim Filter Corporation business that MANN+HUMMEL acquired back in 2018.
• In May 2019, MAHLE announced that the company is planning to a system that will improve the water injection in a gasoline engine. The company is planning to develop advanced activated carbon ion exchanger and filter that will allow mixture enrichment and cut down pollutant emissions.

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Global Automotive Water Separation Systems: Drivers and Restraints

The demand for the automobile sector has been fuelled by the rapidly developing logistics industry. Moreover, the expansion of IT sector and growing industrialization has also increased the demand for automotive sector. The growth of the automotive water separation systems market is directly dependent on the growth of the automotive sector and its production capacity. Though there have been minor slumps in the global economy in recent years, the automotive water separation systems market has experienced steady growth due to the development and advancements in the automotive sector. The market is expected to be primarily driven by the increasing demand for passenger vehicles across the globe. Also, with technological advancements more efficient vehicles with premium features and luxuries are being produced. To complement that the production of the automotive water separation systems has also increased. This has also helped in the growth of the global market.

Global Automotive Water Separation Systems: Geographical Outlook

The global automotive water separation systems market has five key geographical segments namely Europe, Asia Pacific, North America, Latin America, and the Middle East and Africa. Of these regions, the global market is primarily dominated by North America. The growth of the market is driven due to the increasing use of these systems by consumers to maintain their vehicles. Next in line is the Europe market where the automotive water separation systems market is flourishing due to the higher standard of living of people who are willing to pay premium for such products. Additionally, the large fleet of automobiles in the region has also played a crucial role in the development of the automotive water separation systems market in Europe.

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On the other hand, the Asia Pacific market is projected to witness an eye-catching growth over the course of the given forecast period of 2019 to 2027. The growth of the regional market is primarily driven by the booming automotive sector in the emerging economies in the region, particularly China. The growth in per capita income and changing purchasing habits of the general populace are projected to act as prominent driving factors for the development of the automotive water separation systems market in the Asia Pacific.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

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Bicycle Accessories Market: Factors Helping to Maintain Strong Position Globally 2020-2030

The demand within the global bicycle accessories market is set to escalate in the years to follow. Growing inclination of the masses towards physical activity and fitness has created ripples across the bicycle manufacturing sector. There has been humongous demand for new-age technologies in bicycles, and this is an important dynamic of market expansion. Riders prefer to equip their bicycles with speedometers and other devices that can help in manoeuvring and handling of the bike.

This is an important consideration for the vendors operating in the global bicycle accessories market. These vendors are expected to focus on developing leading-edge technologies for assisting bikers. In view of the factors stated herein, the growth index of the global bicycle accessories market is projected to improve.

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This review is a deft explanation of the trends and dynamics that have aided the growth of the global bicycle accessories market. Transparency Market Research (TMR) throws light on some of the leading factors that have driven sales across this market in recent times. The need to ride bikes with all safety measures has necessitated the use of bicycle accessories. Several bicycle accessories are meant to offer better control and vision to riders. Besides, use of certain bicycle accessories such as light and bells is mandatory across a number of regions. Therefore, the total volume of revenues within the bicycle accessories market is slated to escalate.

Global Bicycle Accessories Market: Notable Development

• The leading vendors operating in the global bicycle accessories market have tapped into the needs and requirements of the masses. Some of the riders cycle across long treks, through woods and wild tracks. This makes it necessary for them to equip their bike with premium support accessories for tyres and seats. The quest of the market players to stay congruent with the needs of bikers shall aid market expansion.
• The trend of customization of bicycles has gathered momentum in recent times. This trend could give an impetus to the growth of the global bicycle accessories market, mainly because customization is impossible without the use of premium accessories. The market vendors can leverage this propensity of bikers to earn fresh revenues.

Key Players

• Giant Manufacturing Co., Ltd.
• Avon Cycles Ltd
• Garmin Ltd.
• Campagnolo S.R.L.
• Shimano Inc.

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Global Bicycle Accessories Market: Growth Drivers

• Trend of Undertaking Biking Expeditions

The use of bicycle accessories has increased by a dramatic chase in recent times. Several people and groups have undertaken biking expeditions to tough mountain ranges over the past decade. The popularity of such expeditions has led people to travel to different countries to experience the thrill of riding bicycles across tough roads. Several tours are organised during summers and spring to the highest motorable roads in Asia and Europe. The aforementioned trends are expected to drive sales across the global bicycle accessories market. Biking has become a profession as paid bikers get to take groups of adventure enthusiasts with them across mountain ranges. This is also a crucial factor responsible for the growth of the global bicycle accessories market.

• Importance of Cycling for Health and Fitness

Medical experts consider cycling as one of the most important activities towards maintaining health and fitness. Several people have taken up cycling as a regular activity to stay fit. Cycling is particularly useful for developing strong calves and joints. This is an important consideration for youngsters who have family history of knee pain and disorders. Medical practitioners recommend cycling to people suffering from various muscular defaults and problems. Several people have conceded to the recommendations of medical practitioners about taking up cycling as a daily activity. The next decade is slated to witness the inflow of humongous investments in the global bicycle accessories market.

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Marker Pen Market: High-growth Regions to Expand Geographic Footprint 2020-2027

 

• Marker pen is growing in popularity, owing to the expansion of the end-use industry. Marker pens are used as highlighters, whiteboard markers, security markers, etc.
• Rise in their demand from educational institutions and corporate offices is driving the marker pen market.
• Manufacturers are also focusing on product development and innovations to boost their share of the global market. Growing demand for eco- friendly and recyclable products is fueling the demand for marker pens.
• Asia Pacific and South America regions are expected to be major contributors to the market growth, owing to the expansion of academic institutions and corporate offices. Moreover, the demand for non-permanent marker is also growing. This is likely to drive the global marker pen market.
• Economic condition of developing countries is improving due to rapid industrialization and urbanization. This is anticipated to fuel the demand for Market Pen during the forecast period.

Increase in Demand from Educational Institutions and Corporate Offices to Drive the Global Marker Pen Market

• Schools, colleges, and other educational institutions account for a significant share of the total demand for marker pens across the globe. Blackboards in educational institutes are being replaced with whiteboards that use marker pens. Moreover, rise in use of marker pens in corporate offices during conferences and meetings is expected to drive the global marker pen market. Furthermore, growth of the service sector and surge in the number of academic institutions in developing countries are creating a steady demand.

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Development in Distribution Channels and Adoption of Different Business Strategies

• Development of modern distribution channels such as e-commerce, hypermarket or supermarket are expected to drive the global marker pen market. Manufacturers are expanding their customer base by adopting online channels for marketing their products. Additionally, companies are using different marketing strategies, such as offering promotional products, which include T-shirts, calendars, diaries, etc., along with their products, to increase their customer reach.

North America to Hold a Leading Share of Global Marker Pen Market

• Geographically, the global Market Pen 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 Market Pen 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 Market Pen market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America Market Pen market is segmented into Brazil, and Rest of South America.
• North America dominates the market share due to prevalence of writing with marker pen has increased. Increasing in number of foreign students in countries like such as U.S. and Canada has boosted the sales of the marker pen.
• However, Asia Pacific is anticipated to grow at a fastest CAGR growth rate during the forecast period. Increase in number of student and improvement in the quality of education in the region.

Key Players Operating in the Marker Pen Market:

Companies manufacturing marker pens are focusing on expanding their footprint in emerging economies. They aim at geographical expansion to cater to the high demand across different regions. Developing countries of the Asia Pacific region are expected to witness significant demand for market pens.

Major players are expanding their product portfolio to gain market share. For instance, in January 2019, STAEDTLER Mars GmbH & Co.KG launched a new product under its triplus range called STAEDTLER triplus permanent.

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A few of the key players operating in the global Marker Pen market are:

• Chartpak, Inc.
• Faber-Castell
• Guangdong Baoke Stationery CO., LTD
• Kokuyo Camlin Ltd
• Newell Office Brands
• Sakura Color Products of America, Inc.
• Sanford L.P.
• STABILO International GmbH

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Power Banks Market: Consumption, Sales, Production, and Other Forecasts 2020-2027

According to a new market report published by Transparency Market Research titled “Power Bank Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027,” the global power bank market is expected to reach a value of US$ 15,994.6 Mn by 2027. The market is estimated to expand at a CAGR of 6.5% during the forecast period from 2019 to 2027. Based on volume in units, the market stood at around 376.7 million units in 2018. In terms of region, Asia Pacific acquired greater share in the power bank market in 2018.

Asia Pacific is one of the biggest manufacturing hubs of electronic devices such as Bluetooth speakers, smartphones, iPads, etc. Manufacturers such as Mi-Corporation manufacture several devices such as smartphones and wireless earphones along with the power banks. Presence of such players in the region who provide cost effective products help consumers to demand power banks. India and China are the two prominent countries in the region with huge population. Growth in smartphones has fueled the growth in demand for power banks.

Rise in demand for easy and convenient charging options has helped global manufacturers to innovate with the product and to make lightweight and high charging capacity power banks. The development of smart devices has helped in driving demand for power banks. Innovations by manufacturers have also led to increased demand for the product. However, smartphones having high capacity batteries and efficient chipset in the device is the restraint which can affect the demand for power banks.

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Based on product type, portable power banks dominated the market in 2018 and were valued at US$ 4,152.4 Mn at a CAGR of 6.4%. The dominance of this segment was due to easy to carry power source coupled with wide availability. In terms of power rating, the 5,000 mAh – 12,000 mAh segment dominated the market in 2018 due to more consumer acceptance at an affordable price.

Based on battery type, lithium ion battery dominated the market in 2018 due to its durability and easy availability. By port type, power banks having type C charging port has the highest market share due to wide popularity of Type C charger among manufacturers as well as consumers. Based on application, the smartphone segment dominated the market due to growing demand for smartphones worldwide.

Electric source of charging dominated the market in 2018 due to the more convenient option for charging power banks and easy accessibility to electricity as compared to other segments. By distribution channel, the offline segment dominated the market due to preference of customers to check and compare the products physically. By region, the market in Asia Pacific is forecasted to expand at a high growth rate due to focus on more cost effective solutions. Consumers in China, India, and Thailand prefer buying low cost power banks.

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Prominent players in the power bankmarket include GP Batteries International Ltd, EasyAcc.com, Inc., Maxell Holdings, Ltd., Anker Technology Co. Limited, Braven LC – INCIPIO Technologies, Inc., IEC Technology, LLC, Apacer Technologies, Inc., Panasonic Corporation, Mophie, Inc, RavPower, MiPow Limited, Samsung Electronics Co., Ltd., Goal Zero Corporation, Sony Corporation, and Xtorm.

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Car Rental Market: Verified Value and Volume Forecasts up to 2026

The competitive landscape of the car rental market is moderately fragmented in nature. This is mainly due to the presence of several international and domestic players in the market. The increasing dominance of giant players in the market is dragging the market towards consolidation, says Transparency Market Research(TMR). Some of the prominent players operating in the car rental market are Enterprise Rent-A-Car, Sixt SE, Europcar, The Hertz Corporation and Avis Budget Group.

The players in the market are primarily focusing towards enhancing their services so as to improve their customer base and gain profitability in the market. Along with this, players are focusing towards acquisitions and mergers, business expansion and innovation to strengthen their market share.

For instance, in March 2019, Sixt SE, a prominent player in the car rental market launched a mobility app in order to facilitates customers with several other services and boost personalisation. In the same way, in December 2018, The Hertz Corporation, incopated the use of a online platform called the Hertz Fast Lane in their servies.  This platform helps in carry out and speed up the entire vehicle rental process with the help of a biometric.

According to TMR, the global car rental market is projected to witness a astonishing double digit CAGR of 14.40% during the forecast period that between 2014–2024. The opportunities in the market is projected to touch a valuation of US$290.07 bn by 2024.

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On the basis of geography, North America is expected to dominate the global car rental market during the forecast period. This is mainly due to the presence of several veteran players in the region. Based on transportation mode,  the airport transport segment is expected to  hold sway in the overall market, thanks to the significant rise to the air traffic and  rapid strides taken by industrialization in several parts of the world. 

The global car rental market is projected to garner a remarkable growth rate in the coming few years. This is mainly due to the factors such as global upsurge in travel and tourism activities coupled with improving road infrastructure. Along with this, rise in disposable incomes, surge in leisure and business trips and increasing investments by the global players are some other factors expected to fuel the car rental market in the coming few years.

Car rentals are the car services offered by players to the common people for a particular time duration at an agreed amount. Integration of advanced technologies such as  real time monitoring, GPS and digital transaction are some other factors that played a crucial role in the growth of the car rental market.

Advent of Ride Sharing Application to Hamper Market Prospects

The growth in the car rental market is hampered due to the advent of ride sharing application which help professions offer rise to other profession is expected to impede market growth. Along with this, stringent governmental regulation towards the vehicle emission is projected to curb market growth in the car rental market  in various developing and developed nations.

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Nonetheless, increasing focus to incorporate eco-friendly, green car rental services is anticipated to fuel the car rental market in the coming few years.

The study presented here is based on a report by Transparency Market Research (TMR) titled “Car Rental Market (Car Type – Luxury Cars, Executive Cars, Economy Cars, SUVs, and MUVS; Category – Local Usage, Airport Transport, and Outstation) – Global Industry Analysis, Trend, Size, Share and Forecast 2014–2024”.

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