Automotive Electric Actuator Market Trends, Business Competitors, And Facing Challenges Till 2030

According to the report, the global automotive electric actuator market is projected to surpass US$ 11.7 Bn by 2027, expanding at a CAGR of ~6% during the forecast period. Expansion of the global automotive electric actuator market is primarily due to rising investment by manufacturers for incorporation of safety features in their vehicles and change in regulatory norms for traffic safety and vehicle emission. The automotive industry has been witnessing a technological revolution in the last decade.

Development and innovation in automotive actuators in conjunction with electronic components, such as microcontrollers (MCU), and their application in vehicles have revolutionized conventional vehicle technology, which in turn is responsible for significant rise in application of automotive electric actuators. For instance, electric actuators are utilized in vehicles to control various applications, ranging from basic functions such as opening and closing windows and sliding doors and opening and closing vent doors to advanced functions such as engine idle control for high-performance vehicles and regenerative braking.

Expansion of Automotive Electric Actuator Market

Reduced maintenance costs of electric actuator, owing to elimination of hydraulic components and pneumatic components, is anticipated to increase the demand for electric actuators, thus driving the automotive electric actuators market. Electric actuators provide flexible control over the electronic controller and offer immediate feedback. They can be reprogrammed easily should problems occur. Additionally, motion profiles of electric actuators can be fully controlled and encoders can be implemented for having greater control over velocity, position, torque, and applied force.

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This, in turn, is prompting electric vehicle manufacturers to implement electric actuators in their vehicles, thereby driving the automotive electric actuators market. Conventional braking systems, such as hydraulic brakes and pneumatic brakes, are increasingly being replaced by electronic braking systems (EBS) attributed to the multiple advantages offered by these actuator brakes including reduced maintenance costs and quiet and immediate braking. Brake actuators are used in advanced braking system. Rising penetration of these advanced braking systems in vehicles is likely to increase demand for electric actuators during the forecast period.

Based on product type, the turbo actuator segment is likely to expand at a significant pace during the forecast period. Stringent emission regulations enacted by various governments and regulatory authorities to reduce vehicle emission are prompting automakers to adopt technologies aimed at increasing fuel-efficiency in their vehicles, including turbo actuators. Turbo actuator is used in the vehicle turbocharger. It acts as a pressure relief valve, controlling the output of vehicle turbocharger, and diverts excess gases away from the turbine wheel in the turbocharger.

egional Analysis of Automotive Electric Actuator Market

In terms of region, the global automotive electric actuator market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific held a significant share for the global automotive electric actuator market in 2018 owing to earlier adoption of electric vehicles, availability of major component manufacturers, and presence of major OEMs in the region. Increased demand for luxury vehicles, rise in preference for electronically advanced vehicles, and surge in adoption of advanced safety technologies and vehicle enrichment accessories are likely to propel the automotive electric actuator market in Europe.

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Prominent players operating in the global automotive electric actuator market include Aptiv, Borg Warner Inc., Continental AG, CTS Corporation, DENSO Corporation, Hella GmbH & Co., KGaA, Hitachi Ltd., Johnson Electric, MAHLE GmbH, Mitusbishi Corporation, Nidec Motors & Actuators, Robert Bosch GmbH, Robertshaw Controls Pvt. Ltd., Valeo, and WABCO.

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Vehicle Battery Market Growth Factors Details by Regions, Types and Applications

According to the report, the global vehicle battery market is projected to surpass US$ 65 Bn by 2030, expanding at a CAGR of ~3% during the forecast period. Rise in trade and distance between manufacturing units and end users are likely to boost the market for vehicle batteries during forecast period. Majority of countries, including Italy, China, Germany, India, the U.S., the U.K., France, and Japan are enacting stringent regulations and vehicle standards pertaining to vehicle emission, which in turn is prompting automakers to launch vehicles with new technology to reduce emissions.

Automakers, including Ford Motors, General Motors, and Volkswagen are shifting their focus on development, marketing, and increasing sales of electric vehicles. These companies are planning to discontinue production of IC-engine powered vehicles at their production facilities based in Germany, Italy, France, and Spain in Europe. This, in turn is anticipated to increase the production of electric vehicles (EVs).

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Expansion of Vehicle Battery Market

Increasing electrification of vehicles through incorporation of various technologies is anticipated to boost the global vehicle battery market. Based on battery type, the global vehicle battery market has been segmented into lead acid, lithium ion, and others. The lithium ion segment is expected to expand at a high growth rate owing to an increase in the demand for hybrids and electric vehicles.

However, the lead acid segment is projected to hold a leading share, in terms of volume, even with rise in sales of electric vehicle, owing to their use as auxiliary battery in electric vehicles. In terms of vehicle class, the global vehicle battery market has been classified into passenger vehicle, light commercial vehicle, and heavy commercial vehicle. The passenger vehicle segment held a dominant share of the vehicle battery market in 2019 due to the higher production volume of passenger vehicles.

The production of light commercial vehicles witnessed a resurgence in North America and Europe. The demand for light commercial vehicles is also increasing in developing regions such as Latin America and Asia Pacific, owing to a rise in industrial and manufacturing activities. Thus, the light commercial vehicle segment is estimated to expand at a steady pace during the forecast period.

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Regional Analysis of Vehicle Battery Market

In terms of region, the global vehicle battery market has been divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific dominated the global vehicle battery market in 2019. It is anticipated to hold a leading share during the forecast period due to high production of vehicles in China, India, Japan, and South Korea. China is the leading producer of lithium-ion batteries, globally and hence, China holds a key share of the global vehicle battery market.

Prominent players operating in the global vehicle battery market include BYD Company Limited, Panasonic Corporation, Johnson Controls International PLC, SAMSUNG SDI Co., Ltd., Contemporary Amperex Technology Co., Limited., LG Chem Ltd., A123 Systems LLC, C&D Technologies Inc., East Penn Manufacturing Company, Enersys Inc, Exide Technologies Inc., GS Yuasa Corporation, Koyo Battery Co., Ltd., and Northstar Battery Company LLC.

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Automotive Radiator Fan Market Future Prospective With Key Manufactures, Drivers & Trends 2020-2030

According to the report, the global automotive radiator fan market is projected to surpass ~US$ 1 Bn by 2030, expanding at a CAGR of ~2% during the forecast period. Increase in global warming across the globe is prompting most vehicle manufacturers to develop an efficient cooling system for their vehicles, which is anticipated to boost the automotive radiator fan market across the globe.

Technological progression and development of several advanced combustion modes, such as homogeneous charge compression ignition (HCCI), is anticipated to boost the automotive sector, owing to a rise in demand for high efficiency and low carbon emission. The automotive internal combustion engine market is expected to witness significant expansion due to the high demand for vehicles during the forecast period.

The rise in demand for refrigerated transportation across developing countries is likely to boost the automotive radiator fan market, as a radiator fan is required to provide air flow in order to prevent engine from overheating and improve air condition performance required to transport frozen food. This is expected to boost the automotive radiator fan market across the globe.

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Expansion of Automotive Radiator Fan Market

The surge in trade volume, owing to rising bilateral trade among countries is projected to boost the automotive radiator fan market during the forecast period. China witnessed a surge in both general trade volume and proportion, escalating to 15.66 trillion Yuan. China trade volume accounted for 56.4% of total foreign trade. Major trading partners of China are the U.S., the European Union, and ASEAN. Exports of China to the U.S. further rose by 15.2% year-on-year.

Based on vehicle type, the global automotive radiator fan market has been segmented into passenger vehicle, commercial vehicle, and electric vehicle. Passenger vehicle and electric vehicle are likely to be highly lucrative segments during the forecast period. This is primarily due to the rise in production of passenger and electric vehicle across the globe. The growing adoption of electric vehicles in major developing countries, including the U.S., China, Germany, and Japan is expected to propel the automotive radiator fan market across the globe.

In terms of radiator fan type, the electric radiator fan segment dominated the market, as an increase in demand for electric vehicles due to enactment of emission regulation is fueling the demand for automotive radiator fan. Moreover, the demand for noiseless fan is increasing, which is also likely to drive the demand for electric radiator fan and subsequently, propel the automotive radiator fan market.

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Regional Analysis of Automotive Radiator Fan Market

In terms of region, the global automotive radiator fan market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific dominated the global automotive radiator fan market in 2019. It is anticipated to hold a leading share during the forecast period, due to the rise in production and sale of vehicles in China and ASEAN. The increased demand for electric vehicle across Asia Pacific is anticipated to boost the automotive radiator fan market in the region.

Prominent players operating in the global automotive radiator fan market include AMETEK Inc., Denso Corporation, Valeo SA, FLEXXAIRE, BorgWarner Inc., CalsonicKansei North America Inc.., Delta Radiator Fan Ltd., ebm-papst, Guangzhou Tech Master Auto Parts Co., Ltd, Horton Holdings Inc., Multi-Wing International a/s., SPAL Automotive, Sunonwealth Electric Machine Industry Co. Ltd, Toshiba Electronic Devices & Storage Corporation USUI Co. Ltd., YILI Technologies, Bergstrom Climate Control Systems, and AVID Technology Limited.

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Truck Rental Market Trends, Growth Factors Details by Regions, Types and Applications

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.

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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.

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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Personal Care Appliances Market Competitive Analysis, Forecasts 2027

Transparency Market Research delivers key insights on the global personal care appliances market. In terms of revenue, the personal care appliances market is anticipated to expand at a CAGR of ~3% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in the personal care appliances market report.

The personal care appliances market report mainly covers products, which are used for personal care and grooming. Personal care appliances are electrical devices used by consumers for grooming and styling, used daily by a person.

In this market report, TMR estimates that based on product, trimmers are likely to be the most widely used personal care appliance by the end of 2027 in the personal care appliances market. Consumers are focusing on their appearance as well as grooming due to the influence of social media and concerns about personal healthcare, which has increased the usage of personal care appliances. The convenient usage of battery-powered devices has benefitted the personal care appliances market, which is anticipated to grow steadily during the forecast period.

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Personal Care Appliances Market: Prominent Regions

Asia Pacific is projected to show prominent growth in the personal care appliances market in the near future, due to increase in spending power and growing awareness about personal care. China and India are considered prominent markets for personal care appliance manufacturers during the forecast period. North America and Europe dominate the personal care appliances market. Ease of availability and technological advancements are the major reasons for the growth of this market in North America and Europe. Convenience of usage of battery-powered devices, growing awareness about personal care, increasing trends in grooming styles, and rising disposable income are projected to be major driving factors for the personal care appliances market during the forecast period.

Major brands are likely to focus on research & development to strengthen their footprint in the personal care appliances market. They are also focusing on developing and manufacturing technologically advanced products with more functionalities. Companies are engaged in expanding their product portfolio and focusing on expanding their business through online distribution channels. Companies are also working on upgrading their existing products to increase profitability for sustainable growth of their businesses.

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Personal Care Appliances Market: Key Players

Prominent companies operating in the personal care appliances market include Koninklijke Philips N.V., Procter & Gamble, Wahl Clipper, Panasonic Corporation, Conair Corporation, Spectrum Brands, Inc., Groupe SEB, Andis Company, Havells India Ltd., and Helen of Troy.

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Nutricosmetics Market Top Key Players Update, Global Trend and Forecast To 2027

Consumer awareness regarding the ill-effects of synthetic chemicals used in popular cosmetic skin care products are driving them to opt for nutricosmetics. Emerging markets in the Asia Pacific region and South America whose income levels are rising are expected to witness high growth rate in the demand for skin care products. This is due to a rise in disposable income. Developing countries such as Chile and Uruguay are witnessing a rise in average spending on nutricosmetics products.

Transparency Market Research has come up with a new report titled “Nutricosmetics Market”, which forecasts that the market would expand at 8.5% CAGR over the period of forecast from 2019-2027. The global nutricosmetics arket is estimated to be valued at US$ 8,571.5 mn by the end of 2027.

Consumer rising preference towards a healthier and better lifestyle coupled with usage of natural products including barks, roots, and green tea in skin care product is escalating the demand for global nutricosmetics market. Some of the prominent players that are operating sucessfully in the global nutricosmetics market comprise names like The Coca-Cola Company, E.l.Du Pont De Nemours and Company, Cargill Incorporated, L’Oreal SA, and Nestle S.A. 

Rising demand of personalized cosmetic skin care products, wherein manufacturers take into account specific details of individuals such as weather, skin type, pollution levels where they live, and a myriad other details to ensure that the product is compatible with and effective on the user’s skin.

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Use of Cannabidiol (or CBD)

Cannabidiol is one of the 80 compounds called cannabinoids extracted from the cannabis sativa plant. CBD is known to treat dry skin, psoriasis, and eczema and is being used in many beauty products. CBD also offers anti-inflammatory and moisturizing properties, which is increasing its popularity as an ingredient in cosmetic skin care products. It was earlier part of a niche category of skin care products. It is now entering the mainstream with a number of brands, established and upcoming, launching products containing the ingredient.

In terms of regions, the global nutricosmetics market is divided into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Europe accounted for the leading market share owing to high penetration of nutricosmetics. Such high penetration of the product is coupled with substantially high adoption rate amongst the consumers followed by high awareness about the benefits of nutricosmetics. Nutricosmetics manufacturers in Europe are opting for strategic joint ventures and acquisitions in bid to grab opportunities in the global nutricosmetics market.

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The information presented in this review is based on a TMR report bearing title “Nutricosmetics Market (Product Type – Supplements (Tablet, Capsule, Powder, and Liquid) and Beauty Beverages/Drinks; Primary Function – Skin Care (Sun Care, Anti-Ageing, Radiance and Glow, and Anti Acne/Pimple), Hair and Nail Care, Weight Management, and Multifunctional; Distribution Channel – Modern Trade, Health and Beauty Stores, Specialty Stores, Pharmacy Stores, and E-commerce) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025”.

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Eyewear Market Growth Overview and Forecast by 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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