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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Child Resistant Closures Market: Top Trends to Look for in 2020-2025

The vendor landscape of the global child resistant closures market is highly fragmented, with no leading vendor accounting for a substantial share of the overall market, observes Transparency Market Research in a recent report. The market has a large number of small-scale vendors operating in key regional markets. Thus the level of competitive rivalry is high and gaining high profit margins is a tough task. Most of the leading vendors are located in North America and Europe and earn a large share of their revenue from local markets. So as to strengthen their hold on the global market, companies in the market are focusing on improving consumer convenience and are introducing products with features such as low weight, which have a reduced environmental impact.

Some of the leading companies in the market are Closures Systems International, Inc., Silgan Plastic Closures Solutions, BERICAP GmbH & Co. KG, Global Closures Systems, Aptar Group, Inc., Berry Global, Inc., Amcor Limited, O.Berk Company, LLC, and Blackhawk Molding Co. Inc.

According to the report, the revenue generated from sales of child resistant closures globally has been estimated to be US$1,402.3 mn in 2017. The market is projected to expand at a CAGR of 5.5% over the period between 2017 and 2025.

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In terms of closure type, the segment of push and turn closure is anticipated to be the largest contributor of growth to the global child resistant closures market during the forecast period. The segment also accounted for a lion’s share of over 79% of the overall market in 2017. Geographically, the market in North America is presently the key contributor of revenue to the global child resistant closures market and is likely to lead over the forecast period as well, thanks to the well-established pharmaceutical sector and several regulations that mandate the usage of child resistant closures in packaging containing pharmaceutical products.

Increased Awareness about Benefits of Child Resistant Closures in Mitigating Accidental Drug Intoxication Risk in Children to Drive Market

One of the most important factors expected to work in favor of the global child resistant closures market is the fact that child resistant closures can significantly bring down the potential risk of accidental drug intoxication in children. In the past years, the introduction of child resistant closures in the packaging of a variety of prescription and over-the-counter medications and cosmetics has led to a vast reduction in the mortality rate of children due to such factors in the U.S. Proving to be an effective solution to the high number of drug intoxication cases among children, child resistant closures have thus become mandatory in a number of applications that pack substances or pharmaceuticals that can prove to be hazardous to children.

In the near future as well, high demand across the pharmaceutical sector and strict mandates are expected to significantly contribute to the overall development of the global child resistant closures market. The market could see new growth opportunities across emerging economies in the near future as consumers are become more aware about the potential hazards of accidental ingestion of hazardous substances among children. Increased demand from industries such as food and beverages and personal care is also expected to work in favor of the market.

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This analysis of the global child resistant closures market is based on a recent market research report by Transparency Market Research, titled “Child Resistant Closures Market (Closure Type – Push and Turn, Squeeze and Turn, and Dropper Caps; Material Type – Polypropylene, Low-density Polyethylene, and High-density Polyethylene; End Use – Pharmaceuticals, Household and Personal Care, Chemicals and Fertilizers, Food and Beverage, and Automotive; Tamper Evidence – Tamper Evident and Non-tamper Evident) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017-2025.”

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Wireless Stereo Headphone Market: Deep Company Profiling of Leading Players 2020-2026

Transparency Market Research’s latest forecast study projects that these companies will spearhead the global production of wireless stereo headphones during the forecast period, 2017-2026. The report estimates that by the end of 2026, over 237 thousand units of wireless stereo headphones are expected to be sold across the globe. The report further projects that the global wireless stereo headphone market will expand robustly at an estimated volume CAGR of 7.6% during the forecast period.

The trend of cord-free mobility continues to influence the consumer electronics marketplace to a considerable extent. Gadgets such as stereo headphones are becoming essential products in consumer lifestyles, and their daily and frequent usage has propelled the intervention of wireless technologies. New wireless stereo headphones are becoming attractive among tech-savvy consumers.

Headphone manufacturers around the globe are capitalizing on the growing popularity of wireless operability. Companies namely, Sivantos Pte. Ltd., Sonova Holding AG, Cochlear, MED-EL, Beltone, Miracle Hearing Aid Clinic, Persona, Shenzhen Sunsky Technology, Siemens Healthcare, Starkey Hearing Aids, Union Hearing Aid Centre, Eartone, GN ReSound, Medtechnica Orthophone, William Demant Holding A/S, GN Store Nord A/S and Widex A/S are categorically extending their presence in the global wireless stereo headphone market. These manufacturers are being observed as the key stakeholders in the global wireless stereo headphone market, and are expected to cater to the rising global demand in the near future.

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In 2018 and beyond, a majority of wireless stereo headphone manufacturers will be focusing on catering to the droid consumer base. High penetration of Android user operating systems over iOS will continue to influence the global wireless stereo headphone manufacturing landscape. While Android-based wireless stereo headphone cost cheaper than their iOS counterparts, the profit margins are lucrative as there is a certain scope for more volumes of headphones being sold. By the end of 2026, more than 190 thousand units of wireless stereo headphones are expected to be sold across the globe.

North America’s Multi-Brand Stores to Register Highest Distribution

The report projects that multi-branded stores are the largest distributor channel in the global wireless stereo headphone market. In 2017, nearly 45 thousand units of wireless stereo headphones were distributed globally through multi-brand stores. In the near future, online distribution of wireless stereo headphones is also expected to pick up pace and register the highest volume CAGR of 8.6% over the forecast period. The report findings further indicate that North America will remain the most lucrative marketplace for wireless stereo headphone through 2026.

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By the end of the forecast period, more than 97 thousand units of wireless stereo headphones are expected to be sold in the US and Canada. The report also estimates that multi-brand stores in the US will be among the key distributors in North America’s wireless stereo headphone market. The report also projects that several market players will be eyeing at expanding their manufacturing bases in the Asia-Pacific excluding Japan (APEJ) region. High presence of skilled labor and access to affordable raw materials will continue to drive the expansion of wireless stereo headphone market in the APEJ region. By the end of 2026, more than 30 thousand units of wireless stereo headphones are expected to be sold across the APEJ region.

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Makeup Remover Market: Growth Opportunities to Tap into in 2020-2026

The industry of color cosmetics across the world is experiencing a positive change with the launch and adoption of new cosmetic products by the makers of cosmetics. This has given a boost to the growing usage of cosmetics by various age groups. This is also anticipated to drive the growth of the world makeup removers market.

A few of the key market players comprise Bobbi Brown Professional Cosmetics, Inc., Estée Lauder Companies Inc., LVMH, Revlon Group, Urban Decay Cosmetics, Beiersdorf, Kimberly-Clark, and Avon Products Inc. are involved with the making of makeup removers.

Transparency Market Research assesses the world market for makeup remover to expand at a robust CAGR of 6.0%, over the forecast timeframe that extends from the year 2017 to the year 2026.

Geographically, the world market for makeup remover has been divided into the regions of Latin America, North America, Middle East and Africa, Europe, and Asia-Pacific excluding Japan. Various European countries like France, United Kingdom, and Germany have exhibited higher utilization of makeup removers. This region is basically regarded as one of the largest consumer hub for many of the cosmetic products and personal care.

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The soaring usage of cosmetics that is coupled with rising number of manufacturers of cosmetics in this region has sparked the sales of makeup removers. In accordance with the research report, the sale of makeup removers in the region of Europe is expected to reach a billion dollar value by the end of period of analysis. The region of Asia Pacific excluding Japan (APEJ) is another promising region for the world market of makeup removers. A large section of the population in this region makes use of cosmetics and makeup which is the main factor that is triggering the growth of the regional market for makeup removers in the Asia-Pacific excluding Japan thereby making it the second largest region with a high potential for growth.

Harmful Chemicals of Makeup Products to Propel the Market

The rising percentage of working women has further given momentum to the said market. Such increase in the number of working women has prompted the usage of many different makeup products for face, lips, and eyes. The ongoing trend of looking professional, charming, and attractive together with augmented expenditure has sparked the usage of cosmetic products thereby compelling the manufacturers to emphasize on re-innovation. In accordance with the skin specialists, makeup removal by end of day is important so as to avoid skin disorders and restore the original skin properties. The chemicals that comprise the ingredients of cosmetic products need to be removed at the end of the day so as to negate their harmful effects.

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The information shared that ahs been in this review is based on a TMR report titled, “Makeup Remover Market (Product Type- Clothes and Towlettes, Liquids, Pads, Cleansers, Other Types; Sales Channel- Specialty Stores, Modern Trade, Departmental Store, Drug Stores, Online Retailers, Other Sales Channel; Application- Face, Lips, and Eyes)- Global Industry Analysis, Share, Size, Growth, Trends and Forecast 2017 – 2026”.

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Residential Robotic Vacuum Cleaner Market | Size, Share, COVID – 19 Outbreak and Forecast to 2026

According to a new market report published by Transparency Market Research titled ‘Residential Robotic Vacuum Cleaner Market (Product Type: In-House Robot, Outdoor Robot; Charging Type: Manual Charging, Battery Charging; Operation Mode: Self Drive, Remote Control; Distribution Channel: Online, Offline) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ the global residential robotic vacuum cleaner market is expected to reach US$ 4,112.1 Mn by 2026, expanding at a CAGR of 9.2% from 2018 to 2026. Europe held a significant share in the residential robotic vacuum cleaner market in 2017.

The global residential robotic vacuum cleaner market is expected to be driven by factors such as increasing expenditure on household appliances and increasing awareness about indoor health and hygiene. However, the global residential robotic vacuum cleaner market is expected to be challenged by the availability of substitutes in the market. Investment in research and development to make the vacuum cleaners more efficient in suction power and long operation time is likely to offer attractive opportunities to the market. Efficiency, running time, and room coverage is trending in the global residential robotic vacuum cleaner market.

In terms of product type, the in-house robot segment constitutes a dominant share of the global residential robotic vacuum cleaner market. This is because in-house robotic vacuum cleaners are affordable compared to outdoor robotic vacuum cleaners and the prevalence of single households has helped the segment to witness higher growth. In terms of charging type, the battery charging segment constitutes a share of over 55% of the global residential robotic vacuum cleaner market.

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This is because consumers find it easy to operate a battery charging robot as it can automatically reach the charging station. In terms of operation mode, remote control dominates the segment due to its cheap cost and extensive availability in the market. In terms of distribution channel, offline channel dominates the market since consumers want to physically understand the product. The robotic vacuum cleaner is only a decade old and consumers desire to inspect the product before buying it. Various companies have innovated with the product to ensure a strong presence in the market. This in turn is expected to boost the growth of the residential robotic vacuum cleaner market. In terms of region, Europe accounts for dominant share of the residential robotic vacuum cleaner market.

Europe accounts for more than 29% share of the global market. It is expected to continue to dominate the market during the forecast period due to its large consumer base of working people. The market in the United Kingdom is likely to expand at a rapid pace. The U.K. constitutes a prominent share of the residential robotic vacuum cleaner market in Europe. A high working population drives the market in the country. The market in the U.K. is expected to expand at a rapid pace as the market in Germany is relatively saturated. Germany is expected to account for 1/4th of the residential robotic vacuum cleaner market in Europe during the forecast period. The market in European countries is also driven by the increasing single household.

China is a dominant country in the residential robotic vacuum cleaner market in Asia Pacific. Chinese companies manufacturing robotic vacuum cleaners quote a lower price compared to other companies in the market. The market in China is mainly driven by the availability of low-cost robotic vacuum cleaners. China is followed by Japan and India in the region. The market in India is expected to expand at a rapid growth rate during the forecast period, due to change in lifestyle of consumers and increasing disposable income in the country.

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GCC is a leading sub-region of the residential robotic vacuum cleaner market in Middle East & Africa. It is estimated to dominate the market during the forecast period. The market in South Africa is expected to be driven by a favorable political environment, which is enabling the setting up of more factories and resulting in higher sales of robotic vacuum cleaners. Brazil accounts for more than60% of the residential robotic vacuum cleaner market in South America and is expected to continue to dominate the market in the next few years. The market in Brazil is likely to be driven by acceptance of technological products by the population. The Rest of South America constitutes a minimal share of the market. The market in the sub-region is expected to expand at a sluggish pace in the coming years.

The residential robotic vacuum cleaner market is characterized by the presence of a number of local and regional players and intense competition among them. Some of the industry participants in the residential robotic vacuum cleaner market are Bissel Inc., Dyson Ltd., Electrolux AB, Haier Group Corporation, iRobot Corporation, Koninklijke Philips N.V., LG Electronics Inc., Miele & Cie. KG., Panasonic Corporation, Robert Bosch GmbH, Samsung Electronics, Black Decker Inc., Shark Ninja Operating LLC,  Ecovacs Robotics Ltd., Cecotec Innovaciones Sl, and Neato Robotics, Inc.

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