Extended Text Labels Market – Global Industry Growth and Forecast – 2025

Transparency Market Research delivers key insights for the extended text labels market in its published report, which include global industry analysis, size, share, growth, trends, and forecast for 2020-2025. In terms of revenue, the global extended text labels market is projected to expand about 1.3x its current market value by the end of 2025, owing to ever-increasing demand from end usage such as general pharmaceuticals, clinical trials, animal health, and others across several countries, about which TMR offers detailed insights and forecasts in the extended text labels market report.

Extended text labels are used primarily in end-use industries, including pharmaceuticals, clinical trials, animal health, chemicals, and food & beverages. Extended text labels are also known as extended content labels. These are multi page labels, which provide enough printing space on limited printing space of packaging products. These labels are predominantly used in pharmaceuticals and clinical trials industries. TMR segmented the analysis of extended text labels market based on various factors such as label type, product type, material type, application, and end use across five regions. As per the TMR analysis, booklet/leaflet type extended text labels are expected to hold the largest market share during the forecast period, as they offer brand owners a modern, stylish way to market their products to end users.

Regulatory Environment Associated to Labeling of Pharmaceutical Products to Drive Extended Text Labels Market

Many countries around the world are increasingly implementing strict laws and regulations related to labeling in pharmaceutical and clinical trials products. Recent trend shows manufacturers in prominent end-use industries are increasingly adopting extended text labels to be in compliance with governments’ regulations. For instance, the U.S. FDA issued new regulations for label requirements with expanded information. Such detailed labeling aims to provide information to the drug prescriber or doctor more than to the consumer.

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Besides this, The European Medicines Agency (EMA) publishes information on excipients for the inclusion in more detailed labelling of human medicines. An excipient is a constituent of a medicine other than the active substance, added in the formulation for a specific purpose. Recent trends in packaging shows that packaging sizes are continuously decreasing, but the information printed on labels is increasing. This challenge can only be tackled with extended content labels.

Rising Demand for Clinical Trials Due to Increase in Number of New Drug Discoveries and Formulations

Pharmaceutical manufacturers are continuously looking for new drugs and for this purpose, they are heavily investing in research & development. The fierce competition in the pharmaceutical industry is also pushing manufacturers to heavily invest in research & development for new or updated drugs or formulations. The increase in new drug discoveries and formulations is pushing the demand for clinical trials globally.

Major countries where clinical trials industry has lucrative opportunity are India and China that has a large growth potential in Asia Pacific; this industry in Brazil has a large growth potential in Latin America. The growth of the Eastern Europe clinical trials industry is driven by Poland, Hungary, and Russia. The clinical trials industry is increasingly adopting extended text labels or multi page labels. Clinical trials or experiments can take place in multiple locations around the world. Due to this, one needs to print the information related to tracing clinical trials, storage & transportation, and handling in multiple languages.

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Extended Text Labels Market: Competition Landscape

The global extended text labels market is fairly consolidated in nature, wherein, major portion of the market share is held by well-established players. Some new participants and local players are trying to enter the market attributing to major revenue creation with rising demand for non-alcoholic and alcoholic beverages. Some of the key players operating in the global extended text labels market are Denny Bros Ltd., JH Bertrand Inc., Faubel & Co.Nachf. GmbH, CCL Industries Inc., WS Packaging Group, Inc., Cimarron Label, LLC, Schreiner Group GmbH & Co. KG, Columbine Label Company Inc., Resource Label Group LLC. , Valley Forge Tape & Label co, Inc., Paris Art Packaging Co. Inc., Label Impressions Inc., NSD International (ETI POST), Beneli AB, Abbey Labels Limited, Unick Fix-A-Form & Printers Ltd. (India), Weber Packaging Solutions, Inc. Tapecon Inc., Amberley Adhesive Labels Ltd, and Primeflex Inc..

The tier structure is formulated on the basis of segmental revenue and market share of the company. As per tier structure, CCL Industries Inc., Schreiner Group GmbH & Co. KG, and Faubel & Co.Nachf. GmbH are the tier 1 players in the extended text labels Market. These players are focusing on development of more versatile extended text labels solutions. Tier 2 players includes WS Packaging Group, Inc., Denny Bros Ltd., JH Bertrand Inc., etc.

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PCR Plastic Packaging Market Trend | COVID-19 Pandemic Impact, Size, Share and Forecast to 2028

In a recent study, Transparency Market Research (TMR) offers insights into prevailing trends and growth prospects of the global PCR plastic packaging market. The report is intended to offer a holistic overview of the market, uncovering hidden prospects. It studies the market for a period between 2020 and 2028.

TMR projects the PCR plastic packaging market to expand by 1.7 times its current market value by the end of 2028. The rising demand from diverse industries such as cosmetics and personal care, food, beverages, pharmaceuticals, and others is expected to support the expansion of the market.

Recyclable and recycled plastic packaging is considered as next-generation trends in the industry currently struggling to explore ways of lessening the impact on environment. Driven by the surging focus on containing pollution caused due to plastic waste, the market for PCR plastic packaging is expected to record impressive growth in the coming years.

This packaging solution has particularly evolved from the need of alleviating environmental burden caused due to unbridled production of plastic, which eventually ended up in landfills. Since consumers are more cautious about their choices, TMR foresees the demand for PCR plastic packaging to surge exponentially in the coming years.

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Besides inherent benefits to the environment, these packaging solutions also offer greater protection from moisture, oxygen, and bacteria. This makes it highly suitable for packaging of a multitude of items. Producers operating within the market also adheres to FDA regulations, which has been at the core of impetus recorded in the last few years.

Spurred by aforementioned factors, the demand for PCR plastic packaging is forecast to increase in industries such as food, beverages, pharmaceutical, and healthcare. According to TMR, the demand for packaging solutions made from PET will push growth in the segment, enabling it account for over 55% of the market over the forecast period.

Technological Improvements Streamlining Process

Technological improvements in the last few years have helped in streamlining recycling processes and improving overall efficiency. Recycling requires various types of plastics for which hand sorting can be time consuming and expensive. This has pushed recyclers towards high-tech solutions such as infrared (IR) lasers that can ease their workload and streamline the overall process.

IR beams help in detecting compositions of different types of plastics and then air spurts are used to puff varied kinds of plastics into separate steams for recycling. Traditionally recycling also requires a lot of water however thanks to latest technologies it has become possible to clean, cool, and create recycled plastic without wasting water.

Reduced consumption of water and energy results in added environmental benefits, while lowering the overall cost incurred on recycling. Spurred by these, some of the leading companies operating in the market are developing innovative technologies to boost production.

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For instance, a technology developed by Marco Adame, founder of Ak Inovex, can process over 90% of any type of plastic, curbing water waste as well as reducing production cost by half without compromising on the quality of recycled pellets.

Likewise, AMP Cortex™ is a high speed and intelligent robotic system designed to cater to the dynamic needs of modern recycling operations. Steered by artificial intelligence (AI), the robot is functioned to intelligently perform physical tasks of picking, sorting, and placing materials.

Focus on Sustainability Driving Growth

The staggering volume of plastic waste generated around the world is a direct outcome of the linear model of consumption, also called ‘take-make-dispose’ consumption. According to the World Economic Forum, plastic packaging waste incurs a loss of US$80 to US$120 Bn to the global economy every year.

Against this backdrop, economists are in favor of a circular economy, wherein materials constantly flow in a ‘closed-loop’ system, rather than being used once and then discarded. This model ensures that value of materials, including plastics is not lost. Transitioning to a circular economy might result in less shared plastic in the environment.

It will also contribute towards the UN Sustainable Development Goal on Sustainable Consumption and Production (SDG 12), which targets at reducing waste generated through reduction, recycling, reuse, and prevention.

Such initiatives are expected to work in favor of the growth of the market. Driven by these concerns, key players have begun emphasizing on plastic recycling to reduce carbon footprints. In FY2019, RPC bpi recycled product, a division of RPC group and Berry Global, Inc. bought over 70,000 metric tons (nearly 154 pounds) of recycled plastic for use in product packaging.

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EV Platform Market 2020- COVID-19 Analysis, Size, Share to Witness Uptrend with Robust Sales Volume

According to the report, the global EV platform market is projected to surpass US$ 97.3 Bn by 2030, expanding at a CAGR of 3.5% during the forecast period. EVs offer significant advantages over conventional ICEs, and their penetration is significantly high in Europe. Countries, including China, Mexico, Brazil, and those in the EU are enacting more stringent CO2 emission targets, which is estimated to boost the sales of EVs and EV platform during the forecast period.

Regulatory norms by several organizing bodies on internal combustion engines (ICEs), along with technological enhancements in electric batteries and powertrains are driving the demand for electric vehicles (EVs) and EV platform. Most vehicle manufacturers are introducing new models in collaboration with new entrants in the vehicle industry for ICE as well as EVs to develop new EV design and EV platform. Global sales of battery EVs (excluding hybrids) have been increasing by ~40% since 2012. The increase in sales of EVs is boosting the market for EV platform, as the market for EV platform directly depends on the demand for electric vehicles.

OEMs are trying to improve vehicle platform design by investing more in R&D by investing in native or purpose-built EV platforms, while other OEMs opt to produce EVs based on modified ICE-vehicle platforms. Customized EV platforms possess lower material cost, and they offer better performance for varied range, interior space, and acceleration. However, this customized platform comes at an additional cost leading to higher cost allocation, particularly for low volume vehicle production.

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Expansion of EV Platform Market

Governments across all regions are emphasizing on improvement of air quality index in their regions, thereby encouraging society to opt for electric vehicles or any other zero-emission vehicles by providing numerous incentives and benefits for consumers. Providing economic incentives, particularly to bridge the cost gap between EVs and less expensive internal combustion engine (ICE) vehicles, is projected to boost the demand for EVs and subsequently, propel the EV platform market during the forecast period. Based on sales channel, the global EV platform market has been segmented into OEM and aftermarket. Companies that manufacture vehicle are considered under the OEM segment, while key players in the EV platform ecosystem, including component manufacturers are part of the aftermarket segment.

Small-scale EV manufacturers depend on R&D from service/solution providers. Most component manufacturers in the supply chain of the electric vehicle market invest more on their R&D. Moreover, investment from key OEMs in component manufacturers is responsible for a significant share held by the aftermarket segment of the EV platform market. For instance, Ford invested US$ 500 Mn in Rivian to build battery electric vehicle using Rivian’s skateboard platform. In addition, companies have agreed to work together to develop an all-new, next-generation battery electric vehicle for Ford’s growing EV portfolio using Rivian’s skateboard EV platform.

In terms of vehicle type, the utility vehicles segment dominated the market in 2019. Presently, the demand for SUVs across the global is rising at a rapid pace, as consumer trend is shifting from sedans to SUV models. Moreover, OEMs, including Ford, announced their plans to phase out most of their sedan models and replace them with utility vehicles in North America. Numerous models of EVs are projected to be introduced in the market during the forecast period. Moreover, most EVs to be introduced fall under the utility vehicle segment, as demand for SUVs and crossover vehicles is high in developing nations for larger family size, which is expected to boost the utility vehicle segment during the forecast period.

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Regional Analysis of EV Platform Market

In terms of region, the global EV platform market has been segregated into North America, Europe, East Asia, South APAC, Latin America, and Middle East & Africa. East Asia accounts for a significant share of the global market due to the presence of China, Japan, and South Korea. These countries have taken initiatives to introduce more zero-emission vehicles to enhance environmental conditions. The market for electric vehicles in China has been expanding by 50% for the past few years, which further solidifies China’s significant position in electric vehicle sales. The country presently has a larger EV market of majorly battery electric vehicles than combined Europe and the U. S. Domestic OEMs currently dominate the EV market in China and account for around 94% share in terms of sales.

EV Platform Market Players

Prominent players operating in the global EV platform market include Alcraft Motor Company, Baic Motor, BMW, BYD, Byton, Canoo, Chery, Daimler, Faraday Future, Fisker, Ford, Geely, General Motors, Honda, Hyundai, JAC, Kia Motors, Nissan Motor, Open Motors, REE Auto, Rivian, Saic Motor, Toyota, Volkswagen, Volvo, XAOS Motors, and Zotye.

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Automotive Aluminum Extrusion Market 2020- COVID-19 Analysis, Share, Growth, Opportunities and Forecast To 2030

According to the report, the global automotive aluminum extrusion market is projected to reach US$ 93.3 Bn by 2030, expanding at a CAGR of 6% during the forecast period. Rise in the demand for lightweight vehicles across the globe is likely to propel the automotive aluminum extrusion market. For instance, after a global slowdown in the automobile industry, several governments have reduced taxes on automobiles to encourage sale of vehicles. The enactment of stringent regulations regarding exhaust gas emission across the globe is prompting vehicle industries to develop lightweight vehicles, which is likely to propel the automotive aluminum extrusion market across the globe.

Expansion of Global Automotive Aluminum Extrusion Market

The surge in trade volume owing to rising bilateral trade among countries is projected to boost the automotive aluminum extrusion market during the forecast period. China witnessed an increase in both general trade volume and proportion, escalating to 15.66 trillion Yuan. China trade volume accounted for 56.4% of the total foreign trade. Major trading partners of China are the U.S., the European Union, and ASEAN.

Based on vehicle, the global automotive aluminum extrusion market has been segmented into minicompact (A Segment), supermini (B Segment), compact (C Segment), mid-size (D Segment), executive (E Segment), luxury (F Segment), utility vehicles, light commercial vehicles, heavy commercial vehicles, and buses & coaches. Utility vehicles is likely to be a highly lucrative segment during the forecast period. This is primarily due to rise in demand for SUVs across the globe. The increase in demand for light commercial vehicles across the globe due to an increase in transportation of goods and commodities across the globe is projected to fuel the demand for light commercial vehicles globally.

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Based on type, the sub-structure segment accounted for a significant share of the global automotive aluminum extrusion market. Rise in demand for electric vehicles where aluminum sub-structure is widely used to increase vehicle range is anticipated to boost the automotive aluminum extrusion market across the globe.

Regional Analysis of Automotive Aluminum Extrusion Market

The global automotive aluminum extrusion market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific dominated the global automotive aluminum extrusion market in 2019. It is anticipated to hold a leading share during the forecast period due to rise in the production and sale of vehicles in China and countries in ASEAN.

Followed by Asia Pacific, Europe also held a significant share of the global automotive aluminum extrusion market due to increase in the demand for utility vehicles in the region. The surge in the demand for electric vehicles due to an enactment of stringent emission norms across Europe and Asia Pacific is likely to propel the aluminum extrusion market across Europe and Asia Pacific.

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Key Players in Automotive Aluminum Extrusion Market

Prominent players operating in the global automotive aluminum extrusion market include BENTLER International, Bonnell Aluminum Extrusion Company, CAPALEX, Constellium SE, Innoval Technology, Kaiser Aluminum Corp, KOBE STEEL Ltd., Norsk Hydro ASA, Novelis Inc. OmniMax International, ProfilGruppen Extrusions AB, SMS Schimmer, UACJ Automotive Whitehall Industries, Inc., and Walter Klein GmbH & Co. KG.

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Ultra Wideband Chipset Market 2020 Global Analysis, Research, Review, Applications And Forecast To 2030

Transparency Market Research delivers key insights on the global ultra wideband chipset market. In terms of revenue, the global ultra wideband chipset market is estimated to expand at a CAGR of 6% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global ultra wideband chipset market.

Ultra wideband (UWB) refers to a technology that infuses low energy for high bandwidth communications in a short range. It can carry a huge amount of data over distances up to 230 feet. It can also carry the data across barriers such as doors or cross any other obstacle due to its higher power. It broadcasts digital pulses, which are precisely timed at number of frequency channels. It has various applications such as wireless printing, next-generation Bluetooth, peer-to-peer connections, and wireless high definition video.

The global ultra wideband chipset market has been broadly segmented based on application and end user. Based on application, the ultra wideband chipset market has been divided into industrial automation (production lines, and logistics & operations management), automobile (in-car communication and telematics, smart car access, and others), drones, smart home devices, smartphones, and others. Based on end user, the market has been segregated into individual, government, automotive, and industrial. Among applications, the industrial automation segment holds significant market share and is anticipated to expand at a rapid pace during the forecast period. This is primarily attributable to significant use of ultra wideband chipsets in production lines and logistics & operations management applications.

Ultra Wideband Chipset Market: Dynamics

The global ultra wideband chipset market has shown rapid growth, since the last few decades. One of the major factors driving the growth of the global ultra wideband chipset market includes rising adoption of UWB-based RTLS (real-time location system). RTLS is extensively used for indoor positioning, mainly to track or locate people or objects within a confined area such as shopping malls, hospitals, airports, etc. The added advantage of ultra wideband (UWB) chipset technology is that it helps to micro-position objects through obstructions and works in non-line-of-sight conditions.

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Big industries such as automotive, healthcare, retail, and many more have been using UWB for location detection of robots and transmission of sensory data in places such as automated warehouses. Initially, UWB systems were being used only in larger industries and military applications due to their high prices. In 2015, Decaware launched inexpensive UWB chips that can be embedded into commercial applications. Additionally, it eliminates the need for RTLS backend. The tags locate information and delivers it via Bluetooth to the app. UWB has registered huge adoption from different industry verticals, owing to the abovementioned factors, which is anticipated to fuel the growth of the global ultra wideband chipset market during the forecast period.

The usage of smart things in home appliances is significant across the globe. Products with wireless connectivity (from light bulbs to thermostats to smart speakers) are used more currently in people’s homes than earlier. It has been found out that approximately 79 percent of U.S. consumers have at least one connected device at home.

However, the technology actually has its roots in a world that predates the growth of remote control thermostats: industrial manufacturing, which is expected to grow at a low pace in the market after the major impact on industries due to COVID-19 in the year 2020. However, Industrial Internet of Things (IIoT) takes networked sensors and intelligent devices and puts those technologies to use directly on the manufacturing floor, collecting data to drive artificial intelligence, and predictive analytics.

Ultra Wideband Chipset Market: Prominent Regions

According to regional analysis, North America is the dominant region in the global ultra wideband chipset market. The growth of the ultra wideband chipset market in the region can be attributed to the significant manufacturing capability of players operating in the North America market to produce ultra wideband chipsets for industrial automation and automobile applications. The U.S. has proved to be the most diversified and dynamic market. Ultra wideband chipsets are majorly used in the industrial automation sector for production lines, and logistics & operations management applications; this is anticipated to drive the ultra wideband chipset market in North America over the next few years.

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The U.S. held a major share of the North America ultra wideband chipset market, in terms of revenue, followed by Canada, in 2019. However, in terms of revenue, the market in Rest of North America is anticipated to expand at a substantial CAGR during the forecast period. Europe is focusing on the adoption of ultra wideband chipsets in order to strengthen its automotive, industrial, and government sector.

Germany is home to several well-established players that design and offer ultra wideband chipsets. Thus, rising demand for ultra wideband chipsets in automotive, industrial, and government sectors is anticipated to boost the ultra wideband chipset market in Europe during the forecast period. The ultra wideband chipset market in Asia Pacific is estimated to witness prominent growth during the forecast period. The market in Middle East & Africa and South America is expected to witness moderate growth in the near future.

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Amenity Kits Market Trend | COVID – 19 Outbreak, Players and Forecast to 2030

Transparency Market Research delivers key insights into the global amenity kits market. In terms of revenue, the global amenity kits market is estimated to expand at a CAGR of 1.5% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global amenity kits market.

The global market for amenity kits is largely affected by numerous factors, including increasing number of business class passengers and growing number of strategic partnerships among airlines and key brands of amenity kits. The overall growth in the fleets of passenger aircraft across different regions is driving the global market for amenity kits.

Amenity Kits Market: Key Segments

The global market for amenity kits has been segmented by type, element, packaging, application, and region. In terms of type, the amenity kits market has been divided into first class kits, business class kits, premium economy class kits, and economy class kits, wherein, the demand for first class and business class kits is very high.

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This trend is anticipated to continue throughout the forecast period, owing to the frequent launch of new products. Based on element, the amenity kits market has been divided into skincare products, dental & oral care products, eye masks, earplugs, socks, miscellaneous (comb, pen, tissue, etc.), and others (slippers, etc.). The skincare products segment accounted for a significant market share, by revenue, in 2019. Furthermore, the segment is estimated to expand at a CAGR of 1.8% during the forecast period.

Based on packaging, the global market for amenity kits has been divided into bags and pouches. The pouches segment held majority market share in terms of volume and value in 2019. Continuous upgrade of pouch designs and use of sustainable materials are key trends observed in amenity kits packaging. Based on application, the global amenity kits market has been classified into airlines, premium trains, cruise ships, and others (luxury buses, etc.). The airline segment held a dominant market share in terms of volume and value in 2019. The segment growth can be attributed to rise in tourism, business events, and global connectivity.

Amenity Kits Market: Prominent Regions

The global market for amenity kits has been categorized into North America (U.S., Canada, and Rest of North America), Europe (U.K., France, Germany, and Rest of Europe), Asia Pacific (China, Japan, India, and Rest of Asia Pacific), Middle East & Africa (GCC Countries, South Africa, and Rest of the Middle East & Africa), and South America (Brazil and Rest of South America). The North America amenity kits market exhibits significant demand followed by Europe and Asia Pacific. The market growth in North America can be attributed to consumer preference for air travel and willingness to spend on premium services.

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Furthermore, the market in the region is anticipated to register a CAGR of 1.6% during the forecast period. In Asia Pacific, the market for amenity kits generated revenue worth USD 1.2 Bn in 2019. China is the major country contributing to the overall demand for amenity kits in the region. In Europe, the market for amenity kits is projected to reach US$ 1.5 Bn by 2030. The penetration of major airlines such as Ryanair, Lufthansa Group, International Airlines Group, Air France, and KLM is estimated to drive the demand for amenity kits in Europe.

Amenity Kits Market: Key Players

Key players operating in the global amenity kits market are Nowara Group, 4Inflight International Limited, ZIBO RAINBOW, InflightDirect, WK THOMAS, Aire Inflight FZE, Clip Limited, AMKO GROUP INTL. LTD., Orvec International Limited, Linstol, AVID Products, Inc., Galileo (Galileo Watermark), and Buzz Products.

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Automotive Multi-domain HVAC System Market 2020- Forecast, Size, Overview, Price, Demand and Forecast to 2027

 

• Adoption of sensors, such as proximity sensors, photon sensors, and temperature sensors, has increased in a vehicle. This is attributed to a rise in automation of vehicles for enhanced performance and efficiency and comfort and convenience of passengers, which has led to continuous improvement of HVAC systems in vehicles. This, in turn, is expected to fuel the automotive multi-domain HVAC systems market.
• HVAC represents heating, ventilation, and air conditioning in vehicles. HVAC system regulates temperature, ventilation, and dehumidification in the vehicle in order to enhance driving comfort. The automotive multi-domain HVAC system regulates temperature and humidity of the vehicle cabin automatically with the help of sensors and is a luxury feature added to vehicles in order to attract consumers.

Key drivers of global automotive multi-domain HVAC system market

• Increasing demand for sun-sensitive HVAC system, which ensures comfortable cabin environment for all occupants, is propelling the automotive multi-domain HVAC system market. For instance, implementation of photon sensors, which are able to sense solar radiations, coupled with temperature sensors in an intelligent HVAC system enable a vehicle to sense the position of the sun and the temperature of the surrounding, respectively. This enables the HVAC system to automatically regulate the cabin temperature in the vehicle, thereby increasing the efficiency of HVAC system to regulate vehicle cabin temperature.
• Rise in demand for increased performance of vehicle systems, such as HVAC, and technological advances are driving the multi-domain HVAC system market. Furthermore, increased demand for multi-function electronic components is paving the road for innovation in the semiconductor industry, which in turn is boosting the automotive multi-domain HVAC system. For instance, STMicroelectronics has developed a wide range of thermal sensors for several applications including sensors for monitoring rise in temperature in engine and the vehicle cabin. The applications mentioned above have increased the complexity of technology incorporated in the vehicle; however, it is projected to drive the multi-domain HVAC system market.

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• Rise in trend toward advanced automatic control systems and willingness of consumers to pay more for comfort and luxury have led to an increase in the demand for vehicles incorporated with HVAC systems. Moreover, stringent government regulations pertaining to vehicle emissions and fuel economy call for more advanced and efficient vehicles. HVAC system in a vehicle derives power from the vehicle engine. Therefore, the need for fuel efficient multi-domain HVAC system is rising. For instance, Corporate Average Fuel Economy regulations enacted by National Highway Traffic Safety Administration in U.S. mandate all automakers to increase fuel economy of their passenger cars and light trucks.
• Sales of vehicles have declined globally; however, rise in penetration of SUVs and electric vehicles indicate optimistic growth of the overall automotive market. Rise in demand for sport utility vehicles, which offer more cabin space and advanced HVAC system, is fueling the multi-domain HVAC market. For instance, in 2018, in terms of volume, SUV sales stood at 29.77 million units, which indicated a 6.8% increase, as compared to 27.88 million SUV units sold in 2017. Furthermore, countries including Russia, U.S., Canada, and China were major contributors to total global SUV sales in 2018.

Asia Pacific to be highly lucrative market for automotive multi-domain HVAC systems

• Asia Pacific is witnessing rapid technological advancements. For instance, China is a key country in terms of research and development of electric vehicles. Furthermore, China is witnessing rapid adoption of electric vehicles for both public and personal transport. Strategic partnership between OEMs to increase the production capacity of vehicles in counties, such India, is expected to boost vehicle production. For instance, in May 2018, Toyota Motors and Suzuki Motor Corporation signed a contract to share and expand the manufacturing facility owned by Toyota, at Bengaluru, India, to increase vehicle production. The factors mentioned above offer lucrative opportunities to manufacturers of multi-domain HVAC system in Asia Pacific.

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Key players operating in global automotive multi-domain HVAC system market

The global automotive multi-domain HVAC system market is highly concentrated owing to the presence of several top manufacturers. A few key players operating in the market are:

• NXP Semiconductors
• Robert Bosch GmbH
• Delta-T Devices Ltd
• Delphi Automotive LLP
• Eigenbrodt GmbH & Co. KG
• Thermo Sensors Corporation

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