Surge Arresters Market Growth Overview and Forecast by 2027

The highly concentrated structure of the competitive landscape of the global surge arresters market ensures intense rivalry between leading players, finds Transparency Market Research in a recent study. In 2018, the top five surge arrest manufacturers, namely, ABB Ltd., Eaton Corp., Schneider Electric, Emerson Electric, and General Electric, jointly held a share of more than 60% in this market. To withstand this competition, companies are currently focusing on technical advancements of existent offerings. Product innovation is also expected to gain prominence over the coming years in order to retain their positions in the global market.

Growing Need to Protect Home Appliances from Sudden Power Surge Fuels Demand for Surge Arresters

With the increasing disposable income, a growing desire for a comfortable living can be seen among people all over the world. Electronic devices play a crucial role in providing a comfortable life for the working population, which is why their demand is witnessing new highs on a regular interval. The ongoing technical advancements in consumer electronic appliances are also creating a huge demand for them.

In order to function properly, these appliances require a steady uninterrupted supply of power; however, in most of the cases, they lack inbuilt protection from electricity fluctuation. The irregular flow of power may result in fire and damage household items and their surroundings. Surge arresters, such as voltage regulators and surge protectors, provide efficient protection against such electrical damages by adjusting and normalizing power consumption, ensuring the safety of electronic appliances. The growing need to protect home appliances from sudden surges in electricity is boosting the demand for surge arresters significantly across the world.

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Imminent Growth in Power Generation to Present Opportunity-rich Market to Surge Arrester Manufacturers

Analysts at TMR expect surge arresters to witness a healthy rise in demand over the forthcoming years too. In emerging economies, the rising concerns over the depletion of natural energy resources have created a huge opportunity for the production of electricity from non-renewable resources. This imminent growth in power generation is anticipated to present an opportunity-rich market to the manufacturers of surge arresters. However, the additional cost involved in the installation of these devices may hinder this growth to some extent over the years to come.

North America Leads among Regional Markets for Surge Arresters

Transparency Market Research estimates the global opportunity in the surge arresters market to increase from US$ 2.07 bn in 2018 to US$ 3.25 bn at a CAGR of 5.10% between 2019 and 2027. Among the regional markets, North America tops the list in terms of the surge arrester consumptions. In 2018, the region generated a revenue of US$ XX bn, accounting for a share of 32% in the overall market. By 2027, the contribution of this region to the overall revenue is expected to increase to US$ XX bn. However, due to the strong performance of other regions, it is likely to witness a decline in its overall share in the years to come.

The high voltage surge arresters segment has occupied the key position among all the product segment. Analysts predict it to remain the same throughout the forecast period. Surge arresters will continue to find utmost demand in industrial applications over the forthcoming years, says TMR.

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The study presented here is based on a report by Transparency Market Research (TMR) titled “Surge Arresters Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 – 2027.”

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Last Mile Delivery Transportation Market Opportunity Mapping, Emerging Technologies & Forecast by 2030

According to the report, the global last mile delivery transportation market is projected to reach ~US$ 400 Bn by 2030, expanding at a CAGR of ~3% during the forecast period. Rise in trade and more distance between manufacturing units and end users is likely to boost the market for transportation during the forecast period.

In developing and major emerging economies, transportation of products and goods by means of roadways plays an integral role. Moreover, this mode of transport is cost-effective for door-to-door service, owing to improved road infrastructure. This is anticipated to propel the last mile delivery transportation market during the forecast period.

Increase in industrialization and preference toward e-tailing is estimated to boost the last mile delivery transportation market. Online shopping is witnessing significant expansion, owing to an increase in speedy Internet access, which has led to a rise in preference toward e-tailing among consumers. Furthermore, convenience of shopping from home is projected to boost e-Commerce and consequently, drive the last mile delivery transportation market during the forecast period.

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Expansion of Last Mile Delivery Transportation Market

A surge in trade volume, owing to rising bilateral trade among countries is projected to boost the last mile delivery transportation market during the forecast period. China witnessed a surge in both general trade volume and proportion, escalating to 15.66 Trn 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 cargo type, the global last mile delivery transportation market has been segmented into dry goods, liquid goods, and postal goods. Dry goods and liquid goods are likely to be highly lucrative segments during the forecast period. This is primarily due to the rise in trade volume from one region to another. Rise in volume of imports of industry and manufacturing raw materials and export and import of food and pharmaceuticals.

In terms of end user, the FMCG segment dominated the market, as increase in volume of transport of liquid goods, including oil & gas over the years has been enhancing the demand for freight trucks. Moreover, rise in export of oil and diesel over the years is anticipated to boost the last mile delivery transportation market, as the demand for quality goods and services has been rising in rural areas, owing to improved distribution channels of FMCG companies.

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Regional Analysis of Global Last Mile Delivery Transportation Market

In terms of region, the global last mile delivery transportation market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific dominated the global last mile delivery transportation market in 2019. It is anticipated to hold a leading share during the forecast period, due to high volume of freight transport in China & ASEAN. Improvement of road & transport network and cross-country trade over the years is likely to boost the last mile delivery transportation market in the region.

Prominent players operating in the global last mile delivery transportation market include Cargo Carriers Limited, CJ Logistics Corporation, CEVA Logistics, Concargo Private Ltd, DB SCHENKER, Interlogix Pty Ltd., DHL Paket GmbH, Estes Express Lines, FedEx Corporation, Kuehne + Nagel, Nippon Express Co., Ltd., J&J Global Limited, KART, SNCF Geodis, Swift Transportation, TNT Holding B.V., Procet Freight, Tuma Transport, Yamato Holdings Co., Ltd., and United Parcel Service Inc.

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Microcars Market Analysis by Product Type, Applications, Company Profile 2030

According to the report, the global Microcars market is projected to reach ~US$ 12.7 Bn by 2030, expanding at a CAGR of ~15% during the forecast period. Growing environmental concerns, increasing fuel prices, and traffic congestion globally have laid emphasis on improving transportation facilities. Thus, vehicle manufacturers are focusing on the development of comfortable, affordable, and fuel-efficient small vehicles. This is likely to boost the microcars market during the forecast period.

Rapid increase in vehicle penetration in developing countries and rise in investment in research & development activities are key factors that are estimated to drive the global microcars market during the forecast period. The microcars market is likely to perform well soon due to the rise in the demand for hybrid cars in Asia Pacific, owing to their affordability as well as low maintenance, along with the decrease in the micro electric vehicle’s battery cost, which is likely to propel microcars market in Asia Pacific.

Rise in government initiatives for the development of microcars as well as vehicle manufacturers are integrating advance technology, including advance drive assist (ADAS) and connected vehicle, which is likely to enhance the microcars market across the globe. Moreover, in the U.K., the government offers several tax benefits to people who use microcars. Increase in smart car culture among the young population, rise in export opportunities for microcar manufacturers, and a surge in disposable income are anticipated to boost the microcars market across the globe.

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Expansion of Microcars Market

The surge in trade volume, owing to rising bilateral trade among countries is projected to boost the microcars market during the forecast period. China witnessed a surge in both general trade volume and proportion, rising 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 drive, the global microcars market has been segmented into 2WD/1WD and AWD. AWD is likely to be highly lucrative segment during the forecast period.

This is primarily due to the rise in use of sports utility vehicles and increased need for stability and control of vehicle. Legislation regarding AWD in vehicles across developed countries, including the U.S., China, and Japan, is likely to boost the microcars market. In terms of fuel type, the electric segment dominated the market, as an increase in the demand for electric vehicles due to enactment of emission regulations is driving the demand for microcars. Moreover, major vehicle manufacturers are likely to shut down the production of diesel engines due to the enactment of stringent rules and regulation regarding emission, which is estimated to boost the demand for electric microcars. This, in turn, is anticipated to boost the microcars market across the globe.

Regional Analysis of Microcars Market

In terms of region, the global microcars market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific dominated the global microcars market in 2019. It is anticipated to hold a leading share during the forecast period due to the rise in sales and production of vehicles in China and ASEAN.

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Thus, rise in demand for electric vehicles across the Asia Pacific is anticipated to further boost the microcars market in the region. Prominent players operating in the global microcars market include BMW AG., Mazda Motor Corporation, Daihatsu Motor Co., Ltd. , Daimler AG, Group PSA., Honda Motor Company, LIGIER Group., Mahindra & Mahindra, Tata Motors, Toyota Motor Corporation, Groupe Renault SA, Daihatsu Motor Co. Ltd., Piaggio & C. Spa, Subaru, and Suzuki Motor Corporation.

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Automotive Adhesive Market Analysis, Company Profile, Future Estimations by 2030

According to the report, the global automotive adhesive market is projected to surpass US$ 7 Bn by 2030, expanding at a CAGR of ~5% during the forecast period, owing to increasing usage of adhesives in vehicles to achieve lightweighting and higher fuel economy. A car in the 1990s contained around 22 pounds of adhesives, which has presently increased to about 33 to 39 pounds.

Expansion of Automotive Adhesive Market

Adhesives have been utilized for bonding metal sheets in vehicles for over 40 years. Increasing trend of aerodynamic bodies and flatter designs to create minimal wind resistance have led to the usage of adhesives, as opposed to conventional spot welding. Decline in the number of welding points and increased use of adhesives in structural bonding are likely to boost the global automotive adhesive market during the forecast period.

Vehicles manufactured with adhesives are more cost-effective and safe as compared to their welded counterparts. Welding, bolting, or riveting impact the rigidity of assembled parts, the use of adhesive acts as a buffer and absorbs high energy. Increased demand for safer vehicles among consumers and competition among automakers to achieve higher safety rating are driving the global automotive adhesive market.

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Based on adhesive type, the structural segment held a leading share of the global automotive adhesive market in 2019. Adhesives have been widely adopted for gluing structural components and panels to lower the vehicle weight and improve stability and safety. The threadlocks & retainers segment is anticipated to expand at a high growth rate during the forecast period, as they are cost-effective and prevent corrosion, leakage, and loosening of fasteners/bolts/screws.

In terms of vehicle type, the passenger vehicle segment held a leading share of the global automotive adhesive market, owing to the higher production volume of cars and high usage of adhesives in cars to achieve interior esthetics, lightweighting, and to lower vehicle noise and vibrations.

Regional Analysis of Automotive Adhesive Market

In terms of region, the global automotive adhesive market has been segregated into North America, Europe, East Asia, South APAC, Middle East & Africa, and Latin America. Asia Pacific held a leading share of the global automotive adhesive market in 2019. High production of vehicles in China, Japan, and India led to the dominance of Asia Pacific in the global automotive adhesive market. Europe and North America held a prominent share and the market in these regions are anticipated to expand at a steady pace post recovery from the COVID19-induced auto recession.

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Key Players of Automotive Adhesive Market

Prominent players operating in the global automotive adhesive market include Henkel AG & Co., KGaA, Arkema S.A., DuPont, Hunstman International LLC, Sika AG, Jowat SE, Dow Inc., 3M, Ashland, H.B. Fuller Company, and Franklin International.

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Automotive OEM Key Market Growth, Trends and Forecast 2021-2030

According to the report, the global automotive OEM key market is projected to reach US$ 280 Mn by 2030, expanding at a CAGR of ~2% during the forecast period. Rise in the purchasing power of the global population has fueled the sales of vehicles, thus boosting automobile production activities. This increase in automobile production has subsequently propelled the demand for automotive key solutions from automakers, thereby driving the automotive OEM key market across the globe.

On-going changes in the automotive sector, along with growing popularity of autonomous vehicles and shared mobility services, have transformed the traditional approach of vehicle security solutions from physical keys to virtual keys, which are stored in the smart devices of vehicle owners. This is negatively impacting the automotive OEM key market.

Expansion of Automotive OEM Key Market

Advancements in microelectronics and connectivity technologies are leading to the development of vehicle keys with advanced security features, such as biometric scanning, which are capable of performing multiple functions. For instance, in August 2020, KIA Corporation announced that its new Sorento vehicle model would be equipped with the remote smart parking assist feature that can be controlled through the key fob. Such keys enhance the customer experience and hence, they are expected to propel the global automotive OEM key market in the near future.

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Based on technology, the remote keyless entry system segment held a dominant share of the global automotive OEM key market in 2019. It is anticipated to expand at a notable CAGR during the forecast period, owing to their high ease of operation. The remote keyless entry system enables the consumer to open the doors and start the vehicle without inserting the key, thus creating convenience in operation, which has contributed towards its popularity.

In terms of key material, the carbon fiber segment led the global automotive OEM key market in 2019. It is expected to maintain its dominance during the forecast period. Keys made from carbon fiber are light in weight and have high strength, which make them highly convenient for handling and carrying. These benefits of carbon fiber material is propelling its share of the global automotive OEM key market.

Regional Analysis of Automotive OEM Key Market

In terms of region, the global automotive OEM key market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific dominated the global automotive OEM key market in 2019. Rise in per capita income of the population coupled with rapid industrialization in the region has inflated the demand for passenger as well as commercial vehicles. This high demand, along with lucrative government policies and inexpensive labor has attracted numerous automakers to establish their production facilities in Asia Pacific. This growing presence of major automakers has boosted the sales and production of vehicles in Asia Pacific, thus fueling the automotive OEM key market in the region.

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Automotive OEM Key Market Players

Prominent players operating in the global automotive OEM key market include Altuna Group, Chiavit (Tornado Group), Continental AG, Credit Card Keys, dormakaba Holding, Garin System Co. Ltd, Hangzhou Zhengdian Technology Co., Ltd., Heights Security, Inc., LOCKMASTERS INCORPORATED, Mitsubishi Electric Corporation, One-Tool Co., Limited, QINGDAO EVERISE INT’L CO., LTD., Qinuo Electronics Co., Ltd., Runking Technology Co., Ltd, Sakthi Industries, Spark Minda, STRATTEC SECURITY CORPORATION, and TSNEW TECHNOLOGY CO., LIMITED.

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Residential Robotic Vacuum Cleaner Market Growth Rate, Share & Trends Analysis Report 2020-2026

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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Tennis Ball Machines Market Analysis and Forecast (2021-2027) – by Type, Application, and Region

According to a new market report published by Transparency Market Research titled “Tennis Ball Machines Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2027,” the global tennis ball machines market was valued at US$ 26.0 Mn in 2017 and is expected to reach US$ 33.6 Mn in terms of revenue by 2027, expanding at a CAGR of 2.9% from 2019 to 2027. The Asia Pacific market is projected to show the fastest growth rate during the forecast period due to the increase in number of tennis players and product innovation among manufacturers.

The usage of tennis ball machines has increased across the world. Tennis was perceived as a game for rich people and this trend has been changing over a period of time. Many kids have started to play tennis from an early age, encouraging them to eventually play the game professionally. After the Beijing and Rio Olympics, China is investing in the development of sports and tennis players.

Tennis machines used to be costly and afforded only by a few people or by sports clubs and federations. These machines earlier were heavy to carry. Portable machines are now available in the market due to various innovations and developments in tennis ball machines. These machines are comparatively less costly than traditional machines which were heavy and non-movable.

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By type, light weight tennis ball machines have the highest growth opportunity as these machines are more user friendly compared to the heavy weight ones. They are easy to handle and carry and makes it a perfect consumer choice. Moreover, light weight machines are a perfect fit for young and amateur tennis players to start from scratch.

By ball capacity, tennis ball machines having capacity of less than 150 accounted for major market share of 35% in 2017. One of the increasing trends in the lawn tennis industry is proliferation of young tennis players. With the entryof inexperienced and amateur players in the industry, tennis balls with low ball capacity proves to be a perfect fit for young tennis players.

By speed, tennis ball machines having speed of 20 mph to 80 mph acquired greater market share of approximately 50% in 2017 and is further anticipated to rise at a CAGR of 3.1% during the forecast period.

By power, battery operated tennis ball machines are more convenient due toadvantages such as low maintenance, portability, as well as affordability compared to electric powered tennis ball machines.

By end-user, sports clubs which include sports academies, clubs, and hotels and resorts garnered major market share of approximately 54% in 2016. Tennis ball machines being costly are more feasible for sports clubs compared to schools, colleges, and personal use. Better infrastructure facilities coupled with trained and experience coaching facilities in sports clubs make it a more convenient training option.

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By distribution channel, the offline distribution channel has major market share. Tennis ball machines are sold by leading players globally with the help of licensed distributors across various regions with strong physical presence. In certain regions such as Asia Pacific, e-commerce sites mainly lead the distribution channel due to strong internet penetration, and extensive product availability at affordable prices.

Geographically, in terms of revenue, North America accounted for major market share of approximately 40% in 2017 followed by Europe. This is due to popularity of tennis as a sport since ages. Additionally, presence of better infrastructure, government initiatives by funding for tennis sports training across various schools and universities, coupled with initiatives of popularizing tennis among the younger generation have resulted in the dominance of the region in the tennis ball machine market.

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