Truck Market Key Challenges and Forecast Analysis by 2026

Truck is a motor vehicle used to transport goods and the size of the truck varies according to their material handling capacity.

The global truck market is primarily driven by the global economic growth. Rising demand for freight transport from emerging economies such as India, China, Brazil, and Mexico is estimated to boost the truck market in these countries. Development of infrastructure is assisting increased transportation, which in turn is boosting the demand for trucks. Availability of easy finance options, such as a loan and lease, is driving the sales of trucks to customers as well as rental companies. Increased manufacturing activities in Asia and rising export demands has improved freight traffic, thus driving the sales of trucks in Asia Pacific.

Rising stringency of emission norms is prompting truck manufacturers to develop emission control technologies. Increased demand for fuel economy and trends of utilization of alternative fuels, such as LPG/CNG, to reduce emissions are expected to boost the demand of the LPG/CNG trucks. Rising preference for automatic transmission and down-sizing to achieve lower operating cost and extended engine life are key trends in global truck market.

The global truck market can be segmented based on application, tonnage, fuel type, technology, and region. In terms of application, the global truck market can be classified into mining & construction, logistics, industrial, and others. The logistics segment is expected to expand at a significant pace during the forecast period.

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Based on tonnage, the global truck market can be segregated into 3.5 tons to 7.5 tons, 7.5 tons to 16 tons, 16 tons to 30 tons, and above 30 tons. 16 ton to 30 ton and above 30 ton segments, which comprise heavy commercial vehicles, are estimated to expand at a prominent pace and hold dominant share of the global market during the forecast period.

In terms of fuel type, the global truck market can be classified into diesel, gasoline, and alternative fuel, which includes CNG/LPG and electric. The diesel segment holds the dominant share due to its power delivering capacity. Alternative fuels are capturing the market share held by gasoline, as they emit less pollutants and are cost-effective. The electric sub-segment is expected to expand at a notable pace during the forecast period owing to government support for adoption of electric vehicles and rising trend of electric mobility.

Based on technology, the global truck market can be bifurcated into connected trucks and conventional trucks. Increase in demand for telematics, driver monitoring, and fleet management is driving the connected trucks segment. Regulatory compliance and availability of portable solutions, such as plug and play and OBD II dongles, are boosting the adoption of connected trucks.

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Based on region, the global truck market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific is expected to expand at a significant pace during the forecast period due to rising logistics trade in China, ASEAN and India.

Key players operating in the global truck market are Daimler AG, Volvo, Scania, Tata Motors, and Dongfeng Motor Corporation.

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Tanker Shipping Market Business Insights, Key Challenges and Forecast Analysis by 2027

Transportation of fluids, such as gases and liquids, is very important for the global economy. Tankers are ships utilized to transport fluids from one destination to another via the sea route. The fluids transported include oil, chemical, LPG, and CNG. These carriers are significantly large in size so that fluids in bulk could be transported easily. Tanker shipping is a convenient and economical way to transport fluid in bulk across the globe.

Advancements in technology, tanker modification, and globalization are major factors that are driving the global tanker shipping market, which in turn are fueling the demand for shipping tankers. The global tanker shipping market is projected to expand at a significant pace during the forecast period owing to the increase in demand for fluids, such as chemicals, gases, and oil, across the globe.

Increase in demand for crude oil is also a major factor that is projected to drive the tanker shipping market during the forecast period. Major restraints of the tanker shipping market include irregular distribution channels, government norms, oil prices, and increase in prices of customized tankers, which fuel the operating cost of transportation.

The Tanker Shipping Market can be segmented based on tanker type (size), fluid, shipment route, and region. These tanker types (size) are bifurcated on the basis of tonnage and capacity. In terms of tanker type (size), the tanker shipping market can be classified into Ultra Large Crude Carrier (ULCC), Very Large Crude Carrier (VLCC), Suezmax, Large Range 2 (LR2), Large Range 1 (LR1), Medium Range 2 (MR2), Medium Range 1 (MR1), Intermediate tanker, and small tanker. VLCCs are utilized to transport around two million barrels of crude oil at a time, twice the capacity of Suezmax tankers.

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Based on fluid, the global tanker shipping market can be split into vegetable oil, fuel, crude oil, LPG, LNG, CNG, wines, molasses, and fresh water. Increase in demand for crude oil and globalization are key reasons boosting the demand for tanker shipping. In terms of shipment route, the tanker shipping market can be segregated into inland, coastal, and deep sea.

Based on region, the tanker shipping market can be segmented into Europe, North America, Middle East & Africa, Asia Pacific, and Latin America. Asia Pacific is expected to lead the global tanker shipping market due to high population, disposable income, and raised demand for crude oil and chemicals in the region. China accounts for a major share of the market in Asia Pacific as the country is a major exporter across the globe and has a notable shipbuilding industry. The market in Middle East & Africa is expected to expand in the near future, as the region is a major producer and exporter crude oil across the globe.

Key players in the tanker shipping market are IINO KAIUN KAISHA, Nordic Tankers, Odfjell, Tokyo Marine, Stolt-Nielsen, Navig8 Chemicals, and MISC.

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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 Electronic Stability Control System Market Growth Drivers, Top Key Players, Industry Segments and Forecast to 2027

 

• The automotive electronic stability control system is a new braking system designed to help control and maintain lateral stability of the vehicle. Electronic stability prevents the vehicle from skidding and subsequently, from a crash. According to Bosch GmbH, every year, 32,000 people die in a traffic crash in the U.S., and the electronic stability control system is highly effective to prevent such accidents.
• Electronic stability control system comprises a wheel speed sensor and electronic control unit. The wheel speed sensor senses the speed of the vehicle and detects a slip occurring between the tire and the road. If the slip occurs between the road and the tire, the electronic stability control system reduces the wheel speed. In 1985, Robert Bosch invented the first electronic stability control system and Mercedes Benz were the first car company to use the electronic stability control system.

Key Drivers of global Automotive Electronic Stability Control System Market

• Rise in demand for advance safety features including electronic control system and anti-lock braking system in vehicles is anticipated to boost the electronic stability control system market across the globe. According to National Highway Traffic Safety Administration, one-third of road accidents can be prevented by using the safety features including electronic brake force distribution and traction control system in vehicles. From April 2019, the Ministry of Road Transport and Highway in India made the incorporation of anti-lock braking system mandatory in every new vehicle, which in turn is likely to propel the automotive electronic stability control system market in India.

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• Rising road safety awareness among people combined with substantial increase in adoption of advance drive assist systems in the vehicles are projected to boost the automotive electronic stability control system market. According to Robert Bosch GmbH, upto 80% of all skidding accidents can be prevented by using the electronic stability control system. Canada Transport mandates the electronic stability control system in a vehicle that has been manufactured post 2012. This, in turn, is expected to fuel the automotive electronic stability control system market across the globe.

Europe and Asia Pacific to hold prominent share of global automotive electronic stability control system market

• Europe is projected to account for a notable share of the global automotive electronic stability control system market due to significant presence of automotive industries and enactment of stringent rules regarding the installation of safety features in vehicles in the region. Rise in demand for advance drive assistance systems in vehicles is estimated to boost the automotive electronic stability control system market in Europe. Europe has presence of major original equipment manufacturers as well as Tier-1 suppliers, such as Robert Bosch, Continental AG, and Delphi Technologies, who are leading companies and have major research and development facilities for safety system. This is estimated to propel the automotive electronic stability control system market in Europe.
• Followed by Europe, Asia Pacific is projected to hold a major share of the global automotive electronic stability control system market due to an increase in vehicle production and sale in the region. Furthermore, high rate of adoption of advance drive assistance system in China, South Korea and Japan is estimated to boost the automotive electronic stability control system market in Asia Pacific. 

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Key Players Operating in Automotive Electronic Stability Control System Market

The global automotive electronic stability control system market is highly concentrated owing to the presence of top manufacturers. A few of the key players operating in the global automotive electronic stability control system market are:

• Continental AG
• Robert Bosch GmbH
• ZF Friedrichshafen AG
• Denso Corporation
• Delphi Technologies
• Valeo Inc.

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Road Train Market Key Vendors, Drivers, Trends and Forecast 2026

Road train is term used for a large truck or lorry that pulls one or more trailers in order to transport goods, primarily in remote and rural areas of Australia and the U.S. Road trains are usually categorized as vehicles with large tires having open, deep treads, and a flexible unit for a suspension. These vehicles are extensively employed for freight transportation in rural and remote areas.

The transition and evolution of global transportation are primarily due to booming manufacturing and agriculture industries, which fuel the utilization of road trains via fleet management in order to transport goods and material from one place to another. These factors are expected to propel the global road train market during the forecast period. Developing and major emerging economies, where transportation of products and goods is carried out by means of roadways, play an integral role in expansion of the global road train market.

Expansion of the online shopping market, owing to increase in speedy internet access, has led to a rise in preference toward e-tailing among consumers. Furthermore, convenience and easy access, in terms of home delivery services, are projected to boost the road train market during the forecast period. Road trains are bigger, heavier, and bulkier vehicles, which makes road freight transportation comparatively slower and hence, hampers the road train market. Additionally, massive backlog in proper maintenance is also a major factor that is likely to hinder the road train market during the forecast period. Furthermore, tolls on road leads to massive time loss, which results in slow transportation of freight. Improper road infrastructure coupled with a lack of intent to improve transport facilities is expected to restraint the road train market during the forecast period.

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The global road train market can be segmented based on trailer arrangement, type of goods transported, distance travelled, and region.

In terms of trailer arrangement, the road train market can be divided into A-double, B-double, B-triple, AB-triple, and others. A-double comprises a prime mover pulling a standard lead trailer with a ball hitch attached to its rear end.

Based on type of goods transported, the global road train market can be classified into oil and gas, industrial and manufacturing, defense, energy and mining, chemicals, pharmaceutical & healthcare, food and beverage, and others.

Based on distance travelled, the global road train market can be bifurcated into 100 miles or less, 101 to 250 miles, 251-500 miles, 501-1000 miles, and above 1001 miles. Increase in preference for online shopping among consumers is projected to boost the 100 miles or less segment during forecast period.

In terms of region, the global road train market can be segmented into Asia Pacific, North America, Europe, Middle East & Africa, and Latin America. Australia is a leading market for road train globally. Australia is followed by the U.S. These countries are major markets primarily due to their larger geographical areas.

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Global players operating in road train market include Volvo Trucks, Road Trains of Australia, Western Star, and Kenworth.

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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Dishwasher Tablet Market – Global Outlook (2020 -2030)

 

• Dishwasher tablets are a highly popular category of dishwasher detergent. Dishwasher tablets account for nearly one third of the dishwasher detergent market, followed by liquid/gel and powders.
• Dishwasher tablets are considered to be more efficient and safer than their substitutes as they come with precise dosage requirement per wash and are pre-equipped with rinse aids and other additives, which facilitate enhanced quality of cleaning by dishwashers
• Dishwashing tablets are also capable of combining tasks such as pre-wash and de-greasing, which subsequently results in less time consumption in terms of soaking and scrubbing the dishes. Dishwasher tablets are even available that aim to clean the dishwasher as well.
• Rise in consumer preference for dishwasher tablets is predominantly due to their convenience, hygiene considerations, and energy-saving characteristics.
• Dishwasher tablets are generally in the form of small bricks of concentrated powder, making it convenient for end-users

Rising adoption of dishwasher tablets by restaurants and hotels driving the dishwasher tablet market

• A large number of restaurants and food joints across the globe have been seen veering toward using dishwasher tablets. This is majorly because dishwasher tablets reduce the amount of soap penetrating into the water supply that in turn releases the pressure on water treatment plants.

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Relatively high price of dishwasher tablets might hinder market growth

• Dishwasher tablets are relatively expensive compared to liquids, gels, and powders, which makes the market significantly price sensitive
• Also, dishwasher tablets are less flexible during different dishwasher loads. In such cases, liquids or gels are considered more efficient, as the dosage of the detergent can be changed as per the load of the dishwasher
• These are some of the factors that are limiting the adoption of dishwasher tablets, particularly in geographies with low to medium income population

Impact of COVID-19 on the Market

• The COVID-19 pandemic did not have a major impact on the dishwasher tablets market, as these are day to day consumption products
• On the contrary, hygiene concerns resulted in increased consumption of dishwasher tablets from residential end-users
• However, the market might have been impacted by commercial customer demand, as globally, restaurants and food joints had to shut their operations at various places, resulting in lower consumption of detergent tablets

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Rising demand for Environment Friendly Dishwasher Tablets: Key Demand Side Trend

• More and more consumers have been opting for dishwasher tablets that are environment friendly
• This has therefore shifted the focus of manufacturers to manufacture dishwasher tablets that are labeled with green credentials
• For instance, in the U.K, many dishwasher tablet launches were directed toward environment friendly packaging. The trend has had considerable impact on the dishwasher tablet market growth. Consumers in European and American provinces not only prefer environment friendly options, they are ready to pay a premium for the products with environment safety claims.

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Countertop Microwave Market Overview, Demand, Size, Growth & Forecast 2024

Countertop microwaves are a type of kitchen appliance required for heating food, which work on the principle of electromagnetic radiation. With the increasing shortage of kitchen space and improvements in cooking technology, there is increasing demand for them presently. These microwaves are available in different kinds, with the most popular ones differing in terms of power usage capacity. Nonetheless, countertop microwaves with lower power capacities are no less efficient.

One of the major driving forces of countertop microwaves is the growing trend of microwavable food. This is accompanied by the rising urbanization and subsequent disposable income which lead to an increased purchasing power in urban citizens, who can therefore spend more on home and kitchen appliances, increasing the prospects for countertop microwaves. With demand for energy-efficient microwaves and growing technological developments, the global market for countertop microwaves is expected to expand during the forecast period.

The main hindrance, however, is the requirement of a special variety of utensils, which makes cooking and heating food using countertop microwaves slightly expensive. Hence, this market is limited to particular consumer groups such as the upper middle class.

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With rising concerns for gender equality, the female labor force is growing, which contributes to the expansion of the global countertop microwave market. Presently, women focus on striking the right balance between work and home. Since cooking food in the microwave saves time, demand for countertop microwaves is estimated to rise in the future. Moreover, cooking food using microwaves is also cost-effective, safe, and energy-efficient.

The global countertop microwave market is segmented on the basis of power usage capacity into five categories: 700 watts, 750 watts, 900 watts, 1250 watts, and others, with demand increasing for the latter since it involves less cooking time. Countertop microwaves running at 750 and 700 watts are considered to be less efficient for cooking food, and could instead be used to heat up tea and coffee. Those with capacities of 900 watts and 1250 watts are projected to record higher growth trends as they offer consumers greater efficiency at affordable prices.

In terms of technological applications, the market is divided into the inverter and non-inverter categories. Microwaves equipped with the inverter technology exhibit a high growth pattern as they offer better performance and capacities. Although they are slightly expensive, the unique features they possess such as long durability and high quality are anticipated to fuel the demand for them during the forecast period.

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Geographically, this market is distributed over North America, Europe, Asia Pacific, Middle East & Africa (MEA), and Latin America. The market in Asia Pacific is likely to expand with the rise in the investments on consumer electronics and rapid developments in the energy sector. However, the economies of North America and Europe are predicted to follow a favorable growth pattern over the forecast period as well.

Key players in the global countertop microwaves market include Panasonic Corporation, Samsung Electric Co Ltd, Bonnel International, Sharp Corporation, and Frigidaire.

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Fuel Card Market 2020 – Impact of COVID-19, Future Growth Analysis and Challenges

According to a new market report published by Transparency Market Research on the global fuel card market for the forecast period of 2019–2027, the fuel card market is expected to reach a value of ~US$ 55 Bn by 2027.

Global Fuel Card Market: Overview

• The global fuel card market was valued at ~US$ 33 Bn in 2018, and is expected to expand at a CAGR of ~6% from 2019 to 2027. The market is expanding significantly in terms of size and value. The standard card technology segment is dominating the global fuel card market.
• The fuel card market in Asia Pacific is growing rapidly. Growing disposable income is driving people to opt for technologically-advanced cards to save on fuel expenses. Moreover, increasing of government initiatives in developing countries for the development of the corporate sector are driving the growth of the corporate fuel card market.
• Europe is the largest regional market in the global fuel card market, accounting for ~38% share of the global fuel card market in 2018. North America has the second-largest number of fuel card users, as a result of attractive offers by key companies and supportive government initiatives toward cashless transactions.

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Fuel Card Market: Driving Factors

• Rising demand for cashless fuel transactions in developing economies (as it is critical for fleets to monitor fuel purchases to control and manage fuel spending) is driving the fuel card market. Fuel cards offer good quality data on fuel purchases, which helps monitor individual vehicle and driver fuel economy, and apply operational strategies to enhance performance.
• Canada, Sweden, the U.K., France, and the U.S. are the top five cashless economies in the world. Cashless payments help reduce fuel theft via chip and pin cards, which is driving the demand for fuel cards, globally.
• The fleet management market is influenced by technology. The adoption of fleet management software in data management and analytics has been growing, which is expected to significantly boost the fuel card market.
• Rapid urbanization and industrialization in developing countries such as China, India, Mexico, South Africa, and Brazil is providing lucrative opportunities for the global fuel card market. Over the years, growth in the prepaid and contactless card industry has shaped the economies of several countries.

Fuel Card Market: Key Challenge

• Volatility in fuel prices is likely to be one of the major restraints of the fuel card market. As fuel prices are difficult to be projected, it is difficult to plan and budget for the same. Fuel prices are different across the globe; this is expected to have a huge negative impact on the growth of the fuel card market.

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Fuel Card Market: Competitive Landscape

• The fuel card market includes several players focused on the development of new products to cater to the market demand.
• The report includes the below-mentioned pointers of major players operating in the fuel card market:
  • Company Overview
  • Product Profiling
  • Market Share Analysis (2018)
  • Product Innovation
  • Business Strategies/Recent Developments
    • Technological Advancements
    •  Key Mergers & Acquisitions
    • Expansion Strategies

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