Industrial Hose Market: Key Strategies to Use to Dominate Globally 2020-2030

Transparency Market Research delivers key insights on the global industrial hose market. In terms of revenue, the global industrial hose market is estimated to expand at a CAGR of ~5% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in the global industrial hose market report.

In this market report, TMR predicts the rising vehicle production and growth of the industrial sector across the globe to have a noteworthy impact on the overall industrial hose market. Modernization in agricultural activity is anticipated to propel the sale of industrial hoses in the Asia Pacific region. Depending on the farm operation, companies are offering different hoses, which are more suited to the task. Furthermore, demand for cost effective and flexible ways of getting water into the farm is the primary requirement of farmers, and industrial hoses are bridging this gap, which is driving their demand.

In terms of type, the industrial hose market has been segmented into hydraulic industrial hose, pneumatic industrial hose, and others. During the forecast period, the market is anticipated to be dominated by the hydraulic industrial hose segment. In the report, based on material, the industrial hose market has been segmented into rubber, PVC, silicone, polyurethane, and others.

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Based on pressure, the industrial hose market has been segmented into high pressure, mid pressure, and low pressure. The high pressure segment is anticipated to expand at a significant growth rate during the forecast timeline.

Based on media, the industrial hose market has been categorized into oil, water, gases, steam & hot water, chemicals, food & beverages, abrasives, and others. The oil media segment is anticipated to expand at a higher pace. In terms of end user, the industrial hose market has been divided into automotive, construction, chemicals, oil & gas, food & beverages, pharmaceuticals, water & wastewater treatment, agriculture, marine, mining, and others. During the forecast period, the chemicals end user is anticipated to dominate the market. Asia Pacific has seen a surge in adoption of e-Commerce among consumers, which in turn has increased online retail sales of industrial hose.

Industrial Hose Market: Prominent Regions

Geographically, Asia Pacific led the industrial hose market in 2019 and the region is expected to retain its dominance during the forecast period. China and India are considered the major markets for industrial hoses in the Asia Pacific region, although North America and Europe have been dominating the industrial hose market. Apart from Asia Pacific, African provinces also significantly contribute to the growth of the global industrial hose market.

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Industrial Hose Market: Key Players

The competition landscape of the industrial hose market is highly fragmented with leading players accounting for nearly 25% of the revenue share. Key players operating in the global industrial hose market include ContiTech AG, Eaton Corp. Plc, Merlett Tecnoplastic S.p.A., The Yokohama Rubber Co., Ltd, Parker-Hannifin Corp., and Colex International Ltd.

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Truck Rental Market: Leading Segments and their Growth Drivers 2020-2030

The global truck rental market is estimated to expand at a CAGR of ~10% and reach US$ 204.2 Bn by 2030, driven by preference for rental model over purchase. The global truck rental market is expected to expand exponentially during the forecast period. Developed regions such as North America and Europe account for notable share of the global truck rental market. China and ASEAN countries are likely to witness significant increase in adoption of truck rental services.

Expansion of Truck Rental Market

The increased participation of small transport companies with low capital has boosted the truck rental market. Truck rental is an effective mode of using trucks without having to pay high cost associated with their purchase. Truck rental enables a company to save its investment in assets and pool its revenue in other business operations. Truck rental is an attractive option as compared to direct purchase, as a majority of transportation companies operating worldwide are small to medium in size. The rise in urbanization and trade volume has fueled transport volumes.

Moreover, rapid expansion of the e-Commerce market across the globe propels the demand for trucks, which, in turn, is anticipated to drive the truck rental market. The increased trend of online shopping is a major factor driving road transportation for delivery of goods, which is likely to boost the truck rental market across the globe. Truck rental is expected to gain significant popularity, as major automakers, including Volvo, PACAAR, and Daimler have started offering truck rental services.

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Leading Segments of Truck Rental Market

Based on lease type, the full service rental segment held a leading share of the truck rental market in 2019. Full service lease includes maintenance cost, and sometimes even drive support and fuel cost. Full service/rental is convenient for smaller transportation companies, and is thus, gaining high demand in the global market. In terms of truck type, the medium duty trucks segment held a dominant share of the truck rental market in 2019, owing to their extensive application in numerous industries, such as FMCG and food & beverages, and wide usage in last mile deliveries.

Regional Analysis of Truck Rental Market

The global Truck rental market has been segregated into North America, Europe, East Asia, South APAC, Middle East & Africa, and Latin America. North America, Europe, and Asia Pacific together held a prominent share of the global truck rental market. North America held a major share due to high adoption of truck rental in transportation companies and shippers, and availability of high number of truck rental providers in the region.

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Truck Rental Market Players

Prominent players operating in the global truck rental market include Daimler AG, PACCAR Leasing Company, Ryder System Inc., MAX Rental.lu AG, The Larson Group, Europcar, SIXT, Fetch Truck Rental, Imperial Truck Rental, Element Fleet Management Corp., U-Hual International Inc., Budget Truck Rental LLC, and Enterprise Holdings Inc.

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Instrumentation Fittings Market: High-growth Regions to Expand Geographic Footprint 2020-2025

Although the instrumentation fittings market has been around for quite some time, feeding its stockholders profitably, those players who are catering to the automation demands of the manufacturing and oil and gas industries are gaining an edge over the competition, according to the lead analyst of a recent business intelligence study by Transparency Market Research (TMR).

The TMR report has detected that the vendors landscape of the global instrumentation fittings market is largely consolidated within a small pool of players, such as PARKER HANNIFIN CORP, Circor International, Swagelok Company, AS-Schneider, HAM-LET GROUP, HOKE, ASTEC VALVES & FITTINGS, Bray International, Fujikin of America, Inc., Hy-Lok USA, Inc., World Wide Fittings, Inc., Vesbo Asia Pte Ltd., Allied International S.R.L, and BMT Superlok Asia Pte Ltd.

If the projections of the TMR report are to be believed, the demand in the global instrumentation fittings market will expand at the CAGR of 4.9% during the forecast period of 2017 to 2025. The analysts have evaluated that the global instrumentation fittings market produced opportunities worth US$1,652.2 mn in 2017 and have estimated the valuation of the market to go up to US$2,417.2 mn by the end of 2025. In terms of volume, there was a demand for 123.1 mn units of instrumentation fittings in 2017 and increasing at a CAGR of 3.6% during the said forecast period, the demand volume is anticipated to reach 163.4 mn units.

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Vendors Improving Product Portfolio as per Evolving Requirements

As for the market leaders to maintain their stronghold over the instrumentation fittings market, enhancement of their portfolio with quality products that are cost effective at the same time is expected to be the primary strategy. For instance, HAM-LET Group offers a wide range of let-lock tube fittings with double ferrule, one-lock tube fittings with single ferrule, dielectric fitting, pipe fittings, and flare fittings. On the other hand, PARKER HANNIFIN boasts of its strong and diverse product portfolio including A-lock fittings, CPI fittings, instrument pipe and ISO conversion fittings, phastite, welded fittings, ultraseal fittings, and tube fabricating equipment. All these newly designed products are in accordance to the changing demands of manufacturing industries.

Based on fitting type, the report segments the instrumentation fittings market into tube and pipe. While the tube segment has been further sub-segmented into compression, butt weld, cone and thread, swivel, and push-to-connect, the pipe segment has been further bifurcated into elbow, straight, and tee and cross. The report gauges the demand for instrumentation fittings that can be expected from the end-use industries of oil and gas, manufacturing, food and beverage, power, and chemicals.

Geographically, the analysts highlight North America and Asia Pacific as the two regions that are providing for the maximum demand in the global instrumentation fittings market, and will continue to do so until 2025. However, the demand from Asia Pacific is primed for a stronger CAGR than that of North America.

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Government Regulations to Ensure Safety at Production Units Driving Demand

Rapid infrastructural development in several emerging economies, stringent government regulations for the manufacturing companies to ensure safety at production facilities, prosperity of the electronics and construction industries, and increased oil and gas exploration activities in quite a few countries are some of the key factors driving the demand in the global instrumentation fittings market. The analysts of the report also expects growing adoption of automation methods for improved efficiency across various consumer product manufacturers to open new opportunities in this market during the forecast period.

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Automotive Electric Oil Pump Market: Factors Helping to Maintain Strong Position Globally 2020-2026

Transparency Market Research has published a new report titled, “Automotive Electric Oil Pump Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the report, the global automotive electric oil pump market is anticipated to surpass US$ 27 Bn by 2026, expanding at a CAGR of more than 20% during the forecast period.

Rising demand for electric mobility and fuel-efficient vehicles is driving the demand for the automotive electric oil pump. Stringent emission regulations have made it imperative for automakers to adopt engine downsizing technologies, such as electric oil pump.

The electric oil pump is driven by an electric motor and maintains optimum oil pressure with low power consumption and high efficiency. Rising consumer demand for fuel-efficiency and advent of technologies, such as start-stop and sailing, have necessitated the use of electric oil pump in the vehicle. Rising penetration of electric vehicles, assisted by government incentives and rising consumer awareness, is expected to boost the automotive electric oil pump market.

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In terms of application type, transmission electric oil pump and brake oil pump segments are expected to expand. Electric oil pumps have gained particular importance in automatic and hybrid vehicle transmissions. Electric oil pumps are utilized for cooling and suction purposes in continuously variable transmission (CVT), torque converters, and wet clutch transmissions. Rising penetration of automatic transmission is expected to boost the demand for automotive electric oil pump.

In terms of electric vehicle type, the battery electric vehicle (BEV) segment is anticipated to expand at a notable growth rate during the forecast period. Rising sales of battery electric vehicle is estimated to propel the demand of the automotive electric oil pump. Hybrid & plug in hybrid vehicles are increasingly adopting the electric oil pumps to improve vehicle efficiency.

In terms of sales channel, the OEMs segment is anticipated to dominate the automotive electric oil pump market, in terms of volume. The aftermarket segment is expected to expand at a steady pace owing to the failure of the motor, which is likely to fuel the demand for replacement.

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By region, Asia Pacific held highest market share during the forecast period. Rising production of electric vehicles in China has resulted in the high usage of electric oil pumps and led to dominance of Asia Pacific in global automotive electric oil pump market.

Key players operating in the global automotive electric oil pump market include FTE automotive, Hitachi Automotive, Rheinmetall Automotive AG, Johnson Electric, Nidec Corporation, Mitsubishi Electric, Mikuni American Corporation, Magna Powertrain, Inc., HUSCO Automotive, LLC, MAHLE Group, Delphi Automotive PLC., Robert Bosch GmbH, DENSO Corporation, ZF Freidrichshafen AG, Aisin Seiki, and SHW AG.

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OTR Tire Market: Consumption, Sales, Production, and Other Forecasts 2020-2027

According to the report, the global OTR tire market is projected to reach ~US$ 26 Bn by 2027, expanding at a CAGR of ~4% during the forecast period, primarily driven by an increased use of tractors globally. Asia Pacific holds a leading share of the global market, owing to high demand for OTR tires in China and India. The market in developing regions such as Latin America & Middle East & Africa is anticipated to witness expansion, owing to increased government spending on infrastructure and increased mechanization rate in agriculture in these regions.

Expansion of OTR Tire Market

Rise in urbanization and sustained investment in construction are driving the usage of construction vehicles, thus boosting the demand for OTR tires. The U.S. Government has announced plans for infrastructure investment of US$ 1.7 Trn to develop rural infrastructure, highways, and bridges. Moreover, EU–China deal, named Belt and Road Initiative, of US$ 9 Bn to construct an intercontinental highway is expected to drive the demand for construction vehicles, thereby boosting the demand for OTR tires.

Furthermore, increased industrial activities in Asia Pacific and Latin America is driving the sales of electric forklifts and warehouse trucks in these regions. Additionally, the demand for lean production is driving the adoption of large number of industrial vehicles within facilities and warehouse, which in turn is boosting the OTR tire market.

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Based on industry type, the agriculture segment is expected to dominate the global OTR tire market both in terms of volume and revenue. Modernization of agricultural activities and rising consumer demand due to rising population are boosting the adoption of tractors and agricultural equipment, which in turn is driving the demand for OTR tires. The construction & mining segment of the market in Asia Pacific, Latin America, and Middle East & Africa is expected to expand at a high growth rate during the forecast period. Recovery of the economy of Brazil is expected to witness higher budgeting for infrastructure, thus boosting the sales of construction vehicles. This, in turn, is anticipated to propel the OTR tire market in the country.

In terms of rim size, giant OTR tires of 51’’ to 63’’ rim size are expected to witness significant demand owing to a rise in number of construction projects in developing countries. Stability of commodity prices has boosted the mining sector. Usage of dump trucks, excavators, scrappers, and other mining vehicles to improve the output is expected to boost the demand for OTR tires.

Regional Analysis of OTR Tire Market

In terms of region, the global OTR tire market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific is a key market for OTR tires globally. Abundance of natural rubber in the region has played an instrumental role in achieving competitive pricing of OTR tires. Rapid economic expansion witnessed by countries in Asia Pacific is expected to boost industrial activity and construction projects, thus driving the OTR tire market in the region.

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Prominent players operating in the global OTR tire market include Continental AG, Bridgestone Corporation, MICHELIN, Yokohoma Tire Corporation, Sumitomo Rubber Industries, Ltd., Nokian Tyres, China National Tire & Rubber Co., Ltd., Trelleborg AB, Apollo Tyres Ltd., Qingdao Rhino Tyre Co., Ltd., Titan International, Inc., Balkrishna Industries Limited, Double Coin Tyre Group Ltd., and Triangle Group Co., Ltd.

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Automotive Rear View Mirror Market: Verified Value and Volume Forecasts up to 2022

An up-to-date intelligence study by Transparency Market Research (TMR) has detected that the global automotive rear view mirror market is marked by technological advancements and the presence of a large number of players, who are making the competitive landscape distributed.

Having said that, a few vendors do hold a position of strength in the global automotive rear view mirror market, such as Gentex Corporation, Samvardhana Motherson, Magna International, Murakami, and Ficosa, whereas some of the other promising players are Honda Lock Manufacturing, FLABEG, Ichikoh Industries Ltd., SL Corporation, Lumax Automotive Systems Ltd, Burco Inc., Flabeg Automotive Holding GmbH, Valeo SA, Continental AG, Sakae Riken Kogyo Co., Ltd., Tokai Rika, and Metagal Industria e Comercio.

Among these, Gentex currently has a good hold over the automotive rear view mirror market, which is a reflection of its innovations and strategic acquisitions. The company was the first one to introduce electromechanical auto dimming mirrors and had recently acquired Homelink from Johnson Controls. The company offers cost-efficient products that meet all the advanced features of display and safety, such as microphones, display, antennas, and cameras. Gentex currently caters to various leading players of the automotive industry, including Audi, Ford Motor Company, BMW, GM, Fiat Automobiles, and Rolls-Royce.

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As per the evaluations of the TMR report, the global automotive rear view mirror market was worth US$8.96 bn in 2017. The demand is projected to increment at a CAGR of 4.4% during the forecast period of 2017 to 2022 to reach an estimated global worth of US$11.13 bn by 2022. Product-wise, in 2017, the flat mirror segment accounted for 27.9% of the overall demand and is expected remain the dominant segment throughout the forecast period. Geographically, North America and Europe are two most profitable regions, although the region of Asia Pacific except Japan (APEJ) is projected for the most robust growth rate.

Some of the key factors favoring the global automotive rear view mirror market are: increasing awareness regarding vehicle and passenger safety, growing trend of integrating additional features by the manufacturers to provide a premium product to their customers, increasing demand for higher segment vehicles as a result of increasing disposable income among the consumers, increased investments in research and development, and rising adoption in aftermarket.

According to a 2015 report by the WHO, more than 1.2 million deaths occur every year as a result of moderate road traffic safety measures. As the passenger car segment gains momentum, owing to rapid urbanization and increasing disposable income, the demand in the automotive rear view mirror market is expected to increment steadily. The report also detects that the ability of blind spot detection system to measure the distance and closing speed of objects in adjacent lanes enables it to alert the driver of the vehicle whether a collision is imminent. This ability to prevent blind spot accidents along with the power control feature of the mirror is expected to gain awareness in the near future and drive the global automotive rear view mirror market.

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High Cost of Replacement Hindering Growth

Despite apparent benefits and decreased product cost, the global automotive rear view mirror market is challenged by factors such as functional and operational issues, high replacement cost of smart rear-view mirror, and preference for conventional mirrors among the prospected consumers in cost-effective emerging economies. Nevertheless, integration of infotainment and navigation application such as radar, camera, and LED technologies are opening new opportunities in the global automotive rear view mirror market.

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Automotive Power Electronics Market: Top Challenges to Face in 2020-2025

The global automotive power electronics market is anticipated to witness a fragmented competitive scenario in the span of coming years. The key players in the automotive power electronics market are investing majorly in the in the developing novel products and implementing advanced technology. Some of the leading players operating in the global market are Texas Instruments, Inc., Infineon Technologies AG, ON Semiconductor Corp., NXP Semiconductors N.V., Maxim Integrated Products Inc., Qualcomm, Inc., Robert Bosch GmbH, Renesas Electyronics Corp., and Mitsubishi Heavy Industries Ltd.

According to a recent report by Transparency Market Research (TMR), the global automotive power electronics market is prognosticated to expand at a steady CAGR of 19.0% within the forecast period from 2017 to 2025. The market is likely to reach around a worth of US$22,658.4 mn by the end of forecast period.

In terms of electric vehicle, the global automotive power electronics market is divided into electric vehicles, battery electric vehicles, hybrid and plug-in hybrid electric vehicles. Out of these, the segment of hybrid electric vehicles accounted for the most dominant segment in 2016. This is credited to the importance of decarbonizing the field of transport and in lessening the reliability on the fossil fuels. On the basis of geography, the global automotive power electronics market is led by Asia Pacific region. It is foreseen to project a growth of 20.3%, which is highest amongst all, within the forecast period from 2017 and 2025. 

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The major factor fueling the global automotive power electronics market is the surging demand for advanced technology power solutions for vehicles. Automotive power electronics are gadgets introduced in electric vehicles to control the high extent of voltage and to change varied electric power very proficiently. With the launch of high recurrence and high power changing gadgets, the uses of power electronic converters have increased exponentially.

Moreover, rising deployment upgraded convenience system and driver assistance framework and safety have been feeding development of automotive power electronics market. 

Increased Cost of Electric Vehicles to Hamper Market Growth

Besides this, the increasing number of electric vehicles is as well a noteworthy factor propelling the development of automotive power electronics market. Electric vehicles are progressively getting to be well known as they are battery-based and don’t discharge harmful gases that harm the environment. Therefore, the automotive power electronics market is foreseen to observe significant development in the forthcoming years. For example, in the U.K., the revenue of petrol and diesel vehicles is foreseen to be prohibited by the 2040 as the government authorities are putting efforts improving the air quality in the environment. Because of this, the revenue of electric vehicles is probably going to shoot up significantly in the upcoming decade.

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On the other hand, increased expense of electric vehicles fueling the sluggish growth is foreseen to test the automotive power electronics market.

The data and information presented is based on the findings of a TMR report, titled “Automotive Power Electronics Market (Electric Vehicle – Battery Electric Vehicles (BEV), Hybrid Electric Vehicles (HEV) and Plug-in Hybrid Electric Vehicles (PHEV); Vehicle Type – Passenger Cars (PC) and Commercial Vehicles (CV); Application – Powertrain and Chassis, Body Electronics, Safety & Security Systems, and Infotainment & Telematics) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025.”

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