Industrial Gear Market Growth Trends and Competitive Analysis 2020-2030

Transparency Market Research delivers key insights on the global industrial gear market. In terms of revenue, the global industrial gear 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 its report on the global industrial gear market.

The global industrial gear market is affected by several factors. Industrial gear finds application in a wide range of heavy industries and manufacturing industries due to its capability of reducing mechanical work in various processes and operations. Vast population and the incremented income at the global level have encouraged several industries to extend their facilities to meet the demands of consumers. These industries include textile, oil & gas, pulp & paper, and food & beverages. These are the key factors driving the industrial gear market growth.

Industrial Gear Market: Dynamics

Investments in discrete manufacturing sectors such as packaging, plastics, automotive, and material handling are expected to create sales opportunities for industrial gear. The manufacturing of mass-produced automobiles and processing of food, pharm, biotech, etc. typically relies on conveyors and equipment to bring the parts and assemblies to a location where robots or workers are tasked with a specific function. These electric motors are often connected directly to gearboxes with the help of gear as these are used for driving conveyors, lifts, robot arms, etc.

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Machines used in the packaging industry must deliver high performance in often demanding environments. High speed and accurate and repeatable movements are necessary in environments where temperature, pressure, and loads can place a strain on electromechanical components, including packaging gear. This showcases an opportunity for the growth of the industrial gear market.

Industrial Gear Market: Prominent Regions

Asia Pacific dominates the global industrial gear market with China in the dominating position despite the market slowdown. The U.K is an attractive industrial gear market in Europe, while Germany is the largest market. In South America, Mexico is opening doors for new opportunities. The industrial gear market in Middle East & Africa is likely to grow at a moderate rate due to various global events lined up in the upcoming years. The industrial gear market will be driven by increasing automotive production coupled with large scale EPC projects in all geographies.

Asia Pacific is the biggest and fastest growing markets for industrial gear. Asia Pacific being a mix of developed and developing countries is projected to provide better opportunities for market growth during the forecast period. Economic growth and high demand for industrial gear from small and medium scale manufacturers are driving the market growth.

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Germany accounted for the largest industrial gear market in Europe. Germany is set to maintain its dominance during the forecast period. Large number of industrial gear manufacturers are present in this region, which is one of the key market driving factors.

Industrial Gear Market: Key Players

Key players operating in the global industrial gear market are ABB Ltd, Siemens AG, Martin Sprocket & Gear, Inc., Hota Industrial Manufacturing Co., Ltd., OKUBO GEAR Co., Ltd., Bharat Gears Ltd., Elecon Engineering Company Limited, Precipart Corporation, Kohara Gear Industry Co., Ltd., Aero Gear Incorporated, Shanthi Gears Limited, Ashoka Machine Tools Corporation, Cleveland Gear Company Inc., Meritech Group, and Bevel Gears India Pvt. Ltd.

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Automotive Air Suspension Market Report, Growth Trends and Competitive Analysis 2020-2025

Air suspension of a vehicle helps in improving the driving comfort of the vehicle to a large extent. Besides, air suspension also helps in effectively reduce fuel consumption and improve vehicle stability. Air suspension also helps in adjusting the ride height according to the vehicle speed.

Automotive Air Suspension Market: Drivers and Restraints

The booming automotive sector is expected to drive the automotive air suspension market during the forecast period. The basic function of the air suspension system is to provide a comfortable ride to the driver. Thus, the air suspension is a feature that is primarily prevalent in luxury vehicles and high-end models of vehicles. Increasing technological advancements such as electronically controlled air suspension systems (ECAS) have been gaining traction in recent years. This is further expected to fuel the automotive air suspension market in the near future.

Most key manufacturers of passenger vehicles do not prefer to provide air suspension in vehicles that fall in the medium price range category owing to the high price of the system. This is anticipated to hamper the automotive air suspension market during the forecast period.

Automotive Air Suspension Market: Key Segments

The global Automotive Air Suspension Market can be segmented based on vehicle, technology, component, and geography. In terms of vehicle type, the automotive air suspension market can be segmented into passenger vehicles and commercial vehicles. The commercial vehicles segment can be further divided into light commercial vehicles (LCVs), heavy commercial vehicles (HCVs), and buses & coaches. Commercial vehicles, especially heavy duty trucks and buses & coaches are subject to shocks to a larger extent compared to passenger vehicles. Air suspension systems help in shock absorption. This is anticipated to provide promising opportunities for the growth of the automotive air suspension market during the forecast period.

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Based on technology, the automotive air suspension market can be divided into electronically controlled air suspension and manually controlled air suspension. The electronically controlled air suspension (ECAS) is anticipated to expand at a rapid pace during the forecast period owing to the rising consumer preference toward cars with technologically advanced systems. ECAS enables better levelling of the vehicle, reduced air consumption, reduced vibration, more comfortable ride, higher stability, optimum road grip, and the ability to adapt to varying load capacities.

Based on components, the automotive air suspension market can be segregated into air compressor, air reservoir, electronic control unit and height sensors.

Based on sales channel, the automotive air suspension market can be classified into OEM (original equipment manufacturer) and aftermarket. The OEM segment is anticipated to expand at a significant growth rate during the forecast period owing to the fact that the air suspension system does not require replacement on a frequent basis.

Based on geographical region, the automotive air suspension market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to witness a significant growth in the automotive air suspension market during the forecast period owing to the rapid advancement in the automotive sector in the region and the strong manufacturing footprint of major vehicle manufacturers in few countries of Asia Pacific such as China, Japan and South Korea. Asia Pacific is anticipated to be followed by Europe. This high growth rate of the automotive air suspension market in Europe is mainly due to the focus of Europe-based OEMs toward technological advancements and the rising public preference toward possessing luxury vehicles equipped with air suspension systems in the region in recent years.

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Automotive Air Suspension Market: Key Players

Key players operating in the global automotive air suspension market include Continental AG, ThyssenKrupp AG, WABCO, Hendrickson USA, L.L.C., Dunlop Systems and components , Hitachi, Ltd. , ZF Friedrichshafen AG, and Magneti Marelli S.p.A.

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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Automotive Repair and Maintenance Services Market Research Report, Growth Trends and Competitive Analysis 2020-2026

Periodic maintenance plays an important role in maintaining safety of the vehicle. Several parts of the vehicle, such as engines, brakes, batteries, and filters, cannot be visually inspected and hence, specific automotive repair services play an important role. Periodic oil change, brake repair, air conditioning service, and wheel alignment keeps the vehicle in good working condition.

Increase in awareness regarding vehicle maintenance and vehicle safety is projected to drive the demand for automotive repair and maintenance services during the forecast period. Availability of several independent auto service and maintenance providers is likely to boost the automotive repair and maintenance service market during the forecast period. Moreover, availability of service flexibility, cost competitiveness, and reliable maintenance services are key factors that are anticipated to further propel the market in the near future. Furthermore, increase in on-road vehicles across the globe is anticipated to boost the automotive repair and maintenance services market during the forecast period.

The global automotive repair and maintenance services market can be segmented based on services and parts, service providers, vehicle type, and region. Based on services and parts, the automotive repair and maintenance services market can be segregated into engine oil, gear oil, tires, and others. Engine oil performs an important role in the smooth functioning of the transmission system and enhances engine performance, which directly affects the fuel-efficiency of the vehicle. Brake oil is another important sub segment which is anticipated to expand rapidly during the forecast period owing to its importance in the vehicle. For better fuel efficiency different types of filters such as air filter, cabin filter, oil filter and others perform important operation.

In terms of service providers, the automotive repair and maintenance services market can be bifurcated into automotive dealership, franchise general repairs, locally owned repair shops/body shops, and others. The automobile dealership segment is likely to hold a major share of the automotive repair and maintenance services market during the forecast period. Presence of several locally owned repair shops is also rising at a significant pace owing increase in preference of consumers toward locally owned shop.

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Based on vehicle type, the automotive repair and maintenance services market can be segregated into passenger vehicle and commercial vehicle. The passenger vehicle segment holds a major share of the market. This trend is likely to continue during the forecast period.

In terms of region, the automotive repair and maintenance services market can be classified into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is likely to lead the global market, owing to the presence of numerous automotive hubs in the region. Furthermore, large consumption of passenger vehicle across Asia Pacific and rising production of passenger vehicles across the region are anticipated to drive the automotive repair and maintenance service market during the forecast period. Currently, North America also holds a notable share of the automotive repair and maintenance services market. It is likely to maintain its share of the global market during the forecast period.

Key players operating in the automotive repair and maintenance services market include Arnold Clark Automobiles Limited, Asbury Automotive Group, Inc., Driven Brands, Inc., Firestone Complete Auto Care, Goodyear Tire & Rubber Company, and Jiffy Lube International, Inc.

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Global Automotive Electrical Harness Market Research Report 2020

 

• Demand for automotive electrical harness is significantly high in the automobile industry, as most vehicles are equipped with an electrical system. The electrical harness provides electric power to the automotive components, which performs operations.
• Most automotive parts are driven by the electrical harness including HVAC and battery. The advance safety systems, including anti-lock brake system, are also powered by the electrical harness. The electrical harness consists of connectors, terminals, and relays that help supply electric current or power across the vehicle.

Key drivers of Automotive Electrical Harness Market

• Demand for electric vehicles and advance drive assist systems in vehicles is projected to be a key factor that drives the automotive electrical harness market. Currently, vehicles contain a high number of electronic components, which fuels the demand for wiring harness. This, in turn, is projected to boost the automotive harness market.
• Increase in demand for vehicle connectivity across the world is likely to propel the automotive electrical harness market. Lack of availability of copper is fuelling the demand for recycling of copper from discarded wiring harnesses, which in turn is estimated to boost the automotive electrical harness market. All the parameters mentioned above are estimated to boost the market.

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North America, Europe & Asia Pacific to hold prominent share of automotive electrical harness market

• North America and Europe are projected to hold significant share of the global automotive electrical harness market due to the high rate of adoption of safety features in automobiles in these regions. Canada, Mexico, and Germany have stable economic growth for the expansion of vehicle manufacturing plant which in turn is anticipated to fuel the automotive electrical harness market. Majority automotive manufacturers based in Europe and North America develop vehicles with advance electronic and safety features which in turn is likely to propel the automotive electrical harness market.

• Following Europe and North America, the automobile industry in Asia Pacific is expanding at a moderate pace. Demand for electric vehicles and advance drive assist systems in vehicles is increasing in the region. This is a key factor that is estimated to drive the automotive electrical harness market in Asia Pacific. Most developing countries from Asia Pacific including China, India, and South Korea are home to major original equipment manufacturers who are trying to integrate safety features in their vehicles. This in turn is projected to propel the automotive electrical harness market in Asia Pacific.

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Key Players Operating in Automotive Electrical Harness Market

The automotive electrical harness market is highly concentrated owing to the presence of top manufacturers. A few of the key players operating in the global automotive electrical harness market are:

• Yazaki Corporation
• Delphi Automotive
• Robert Bosch GmbH
• Lear Corporation
• Continental AG
• Sumitomo Electric Industries
• Siemens AG

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Automotive In-Wheel Motors Market to Witness Robust Expansion by 2027

The global automotive in-wheel motors market is projected to witness a substantial growth during the tenure of 2019 to 2027. The growth of the market is attributed to the growth of the automotive industry where Industry 4.0 is packing up a major pace. With the growth of the industry and automation new and advanced technologies are being implemented in the vehicles. Owing to these factors the global automotive in-wheel motors market shall grow exponentially in coming years between 2019 and 2027.

Global Automotive In-Wheel Motors Market: Competitive Analysis

The global automotive in-wheel motors market is highly competitive and has a massively fragmented scenario. This landscape of the global automotive in-wheel motors market is the result of growing number of emerging players in the market across the globe. However, due to this scenario, the new players are unable to enter the global automotive in-wheel motors market during the tenure of 2019 to 2027.

In order to overcome this scenario, the new players are resorting to strategies such as partnerships, associations, affiliations, mergers, and collaborations. With the help of these strategies, the new players can accommodate essential and much required market exposure that can help them understand the dynamics of global automotive in-wheel motors market. This further help the new players to acquire sustainability in the global automotive in-wheel motors market during the tenure of 2019 to 2027.

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On the other hand, the established players of global automotive in-wheel motors market are acquiring new businesses to ensure the dominance over the global automotive in-wheel motors market. The strategies allow the players to enhance and upgrade the production and development centers which further provide a competitive edge to the players in the global automotive in-wheel motors market during the tenure of 2019 to 2027.

Global Automotive In-Wheel Motors Market: Key Drivers

Demand for Better Propulsion in Commercial Vehicles to Drive the Growth

An automotive in-wheel engine is a fundamental piece of the transmission get together and is utilized to drive the wheel of an electric vehicle, subsequently encouraging better control. Car In-Wheel engines are utilized in every single electric vehicle, including traveler vehicles, light commercial vehicles (LCVs) and heavy commercial vehicles (HCVs). Subsequently, developing creation of electric vehicles is the key factor expected to drive the global automotive in-wheel motors market during the projected time frame.

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Developing Technological Developments to Propel the Growth

The combination of smaller inverters in-wheel engines is one of the key automotive in-wheel motors market patterns which will additionally drive the market development. Electric vehicle producers are scaling back the segments to lessen weight and increment vehicle effectiveness. In accordance with this pattern, in-wheel motors market manufacturers are building structures to fuse numerous frameworks like inverters in the in-wheel motors to improve the general productivity. They are additionally joining inverters with in-wheel motors to offer a smoothed out bundle which decreases the general space taken by inverter and engine. These advancements are relied upon to additionally help the reception of car in-wheel engines. The automotive in-wheel motors market is predicted to be powered by these components, the market will develop at a staggering rate during the estimate time frame.

Global Automotive In-Wheel Motors Market: Regional Analysis

Asia Pacific is projected to hold the largest share in the global automotive in-wheel motors market. The dominance of the region is attributed to the growing number of companies that dealing with advanced security features in the vehicles. Moreover, the demand enhanced performance of the vehicles by the end users also helps Asia Pacific to hold the lion’s share in the global automotive in-wheel motors market during the tenure of 2019 to 2027.

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Automotive Plug-in Hybrid Electric Vehicle (PHEV) Market to Witness Robust Expansion by 2027

Plug-in hybrid electric vehicle (PHEV) uses an electric motor in addition to an internal combustion engine to obtain power. These vehicles can be externally recharged, which allows them to drive over extended distance. The electric motor used in PHEV helps reduce fuel consumption and produces less pollution.

Global Automotive Plug-in Hybrid Electric Vehicle (PHEV) Market: Competition Landscape

In 2018, Toyota Motor Corporation announced the launch of Corolla and Levin PHEV passenger cars in 2019. The company is also set to invest in China to boost the production of inverters, batteries, and other electric vehicle technologies. The PHEV variants of Corolla and Levin will be manufactured in China, which would the first overseas production of PHEV vehicles by Toyota Motor Corporation.

Tesla

Founded in 2003, Tesla is headquartered in Palo Alto, California, the U.S. The company is a leading manufacturer of electric vehicles and green energy solutions. The company manufactures PHEV and fully electric vehicles. Tesla is a pioneer in global electrification and a key player operating worldwide.

BMW AG

Founded in 1916, BMW AG is headquartered in Munich, Germany. The company operates through two business verticals: automotive and motorcycle. BMW AG has 31 production plants worldwide and is located in 51 countries. The company offers PHEV models such as X5, Mini Countryman, 330e, and 530e, among others. The company is investing in the development of the electric vehicle technology. BMW AG has targeted to launch 25 electric models by 2025.

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Toyota Motor Corporation

Founded in 1937, Toyota Motor Corporation is headquartered in Toyota City, Japan. The company is a leading manufacturer of vehicles worldwide. The company’s brands include Lexus, Toyota, TRD, Ranz, Daihatsu, and Gazoo Racing.

Global Automotive Plug-in Hybrid Electric Vehicle (PHEV) Market: Dynamics

Government Incentives Fueling Demand for Plug-in Hybrid Electric Vehicles

Sale of plug-in hybrid electric vehicles is largely influenced by government incentives. The sale of PHEVs has increased substantially is Europe, following the decline in car registration charges for PHEVs and taxes. The China Government is supporting the production of PHEVs by offering subsidies on electric batteries, PHEVs, and battery electric vehicles (BEVs). Other non-monetary benefits, such as access to special driving lanes and free parking have spurred the adoption of PHEVs.

Stringent Emission Norms to Drive Global Market

Automakers are manufacturing plug-in hybrid electric vehicles to meet rising emission standards. The Government of China has directed automakers to include 3%–4% production of electric vehicles in their total production in 2019–2020, thereby boosting the automotive plug-in hybrid electric vehicle (PHEV) market in China. China, India, Mexico, and Brazil are likely to revise their emission norms and reach the EURO 6 equivalent standards. Higher targets for CO2 emission are expected to fuel the adoption of plug-in hybrid electric vehicles and drive the global market.

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Global Automotive Plug-in Hybrid Electric Vehicle (PHEV) Market: Segmentation

In terms of vehicle type, the global automotive plug-in hybrid electric vehicle (PHEV) market can be segmented into:

• Passenger Vehicle
• Light Commercial Vehicle
• Heavy Commercial Vehicle

Based on technology, the global automotive plug-in hybrid electric vehicle (PHEV) market can be divided into:

• Series
• Parallel
• Series-Parallel

The report on the global automotive plug-in hybrid electric vehicle (PHEV) market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.

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Eyewear Market to Witness a Pronounce Growth During 2027

As per the recent TMR report, the global eyewear market was valued at US$ 155,652.3 Mn in 2018 and is forecasted to expand at a CAGR of 8.30 % from 2019 to 2027.It is estimated to reach a value of US$ 319,015.5 Mn by 2027.

In terms of geography, the global eyewear market is segmented into five major regions namely North America, Asia Pacific, Europe, South America and the Middle East and Africa. North America currently holds the lead in the global eyewear market. In the near future as well the regional market is anticipated to rise at steady pace. This due to rising disposable income of people in the region. On the basis of segments online segment to report a higher CAGR during the course of the forecast period.

Ongoing fashion trends of wearing designer eyewear has emerged as one unconventional drivers of the global eyewear market. The trend is mainly because of the changing lifestyle of the consumers owing to the rising disposable income of the consumers. The growing inclination of the consumers of towards branded eyewear products will pave way for the market to capitalize on lucrative prospect.  Siting the trend, the key players of the global market trying to lure the customer with designer and cost effective product launches. While, majority of the companies adopting product branding approach to seek customer attention.

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Increased Trend In Usage Of Contact Lenses And Sunglasses Will Create New Market Avenue

Contact lenses and sunglasses are the most comfortable daily wear which is expected to trend upward. Easy availability of the contact lenses at reasonable price is accelerating the market growth across the global level.

Increasing Investment By Eyewear Manufacturing Process Will Lead To Technical Advancements And Transition

Owing to the strong presence of multiple prominent eye wear players such as Magrabi, Signature, Fielmann, Luxottica, Safilo. Zeiss International and Essilor International, the degree of competition in the global eyewear market is high. All the players are continuously investing in current market to enhance their market presence. Luxottica and Essilor International agreed upon the investment of US$ 49 Bn merger to build a global eyewear powerhouse with annual revenue of more than US$ 16.5 bn to collaborate on eyewear business with Marcolin.

High level of fragmentation on account of presence of plethora of companies is expected to shape the competitive contours of the global eyewear market, finds Transparency Market Research (TMR). Some of the predominant players present in the global eyewear marker are Bausch & Lomb Inc., Essilor International, Luxottica Group S.p.A., Zeiss International, Marchon Eyewear and Johnson & Johnson Vision Care. Major players in the market are focusing on product innovation and acquisitions along with partnerships to expand their business.

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The study presented here is based on a report by Transparency Market Research (TMR) titled “Eyewear Market (Product Type – Spectacles (Spectacle Lenses and Spectacle Frames), Contact Lenses (Soft Contact Lenses and Rigid Contact Lenses), and Sunglasses (Polarized Sunglasses and Non-Polarized Sunglasses); Distribution Channel – Online Channel and Offline Channel) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 – 2027”.

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