Farm Tire Market Statistics, CAGR, Outlook, and Covid-19 Impact 2020-2025

Transparency Market Research has published a new report titled, “Farm Tire Market [Application: Tractors, Harvesters, Implements, Irrigation, Forestry, Others; Tire Type: Radial and Bias; Equipment Horsepower: 0-80Hp and 80-200HP; Sales Channel- OEM and Aftermarket] – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2025.” According to the report, the global farm tire market is projected to reach US$ 10 Bn by 2025, expanding at a CAGR of 4.94% during the forecast period.

According to the report, the global farm tire market is likely to be driven by a range of macroeconomic and industry-specific factors. Europe is expected to be at the forefront of global demand, with the market in the region expanding at a CAGR of 5.43% between 2018 and 2025.

Increasing demand for agricultural products led by rising population across the globe is anticipated to be a major driver of the farm tires market during the forecast period. Moreover, encouraging government policies, such as subsidies on agricultural products and agricultural machinery, are estimated to trigger the adoption of farm tires. Governments of developing countries, generally, provide attractive financing options with low interest and subsidies on farming equipment in order to augment the production of farms and to cater to the demand for food by the growing population.

Economic expansion has propelled the investment for the improvement of agricultural infrastructure across the globe, specifically across developing countries, which are witnessing heavy investment in agricultural equipment. This, in turn, is anticipated to boost farm tire market during the forecast period.

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Growing population is projected to fuel the need for agricultural products in the next few years. Since automation is the only way to increase agricultural productivity and meet the requirements of the growing population; demand for agricultural machinery including tractors, harvesters, Implements, and others is anticipated to rise significantly during the forecast period. Furthermore, the Chinese government provides subsidy on agricultural machinery. Greater encouragement for export along with expansion of the agricultural service industry are anticipated to boost the agricultural output during the forecast period. Rapid urbanization, surge in incomes, and increased demand for processed food are likely to boost agricultural activities, which in turn is expected to propel the use of various agricultural vehicles during the forecast period.

Bias tires can operate at lower speeds and are less susceptible to wear and tear from rocky terrain. Moreover, they are less expensive as compared to radial farm tires and therefore, currently, dominate the farm tire market. Radial farm tires are expensive; however, they offer 10% to 15% more traction than bias tires, thus improving efficiency by saving fuel. Furthermore, they have a longer tread life, better wear durability, and provide a smoother ride. Consequently, an increasing number of farmers are switching to radial farm tires. Thus, their demand is expected to rise during the forecast period.

Based on sales channel, the farm tire market has been segregated into OEM and aftermarket. The aftermarket segment dominated the farm tire market. It is expected to maintain its dominance during the forecast period. Farm tires need to be replaced frequently, as they undergo wear & tear due to their operation under heavy load and on rough terrain. Moreover, increasing awareness about vehicle maintenance and establishment of aftermarket dealers in developing countries are expected to propel the aftermarket segment during the forecast period.

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In terms of region, the global farm tire market has been divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Rise in agricultural activities, industrialization of agribusiness, along with the presence of major tire manufacturers and tractor and farm related equipment manufacturers in India and China are projected to boost the farm tire market during the forecast period. Use of modern farm machinery along with continuous development in the field of tractors and farm-related equipment in North America and Europe are anticipated drive the farm tire market in the respective regions.

Prominent players operating in the global farm tire market include Balkrishna Industries Limited (BKT), Bridgestone Corporation, Continental AG, MICHELIN, Mitas, TBC Corporation, Titan International, Inc., Sumitomo Rubber Industries Ltd., and Pirelli & C. S.p.A.

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Self-Balancing Scooter Market Business Statistics and Research Methodology by Forecast to 2025

Self-balancing scooter, also called a hoverboard, is a one or two wheeled powered vehicle that balances both rider and itself on the basis of the driver’s leaning action. The in-built sensors measure the rate and pitching angle and send signals to the motor to drive accordingly, thus balancing the scooter. These scooters contain lithium-ion-batteries and can be fully charged within three hours. They can easily cover distance up to 10-15 km with one full charge. Moreover, wireless chargers similar to the one used for mobile phones are expected to be launched in the forthcoming period, thus aiding their growth further.

The key factor driving the growth of the self-balancing scooter market includes the balancing act of the scooter. It is easier to accelerate, stop, and operate the scooter. Moreover, self-balancing scooters are eco-friendly and light-weight, making them convenient to carry it anywhere. It runs on rechargeable batteries and is noiseless. Thus, owing to the low power consumption and low maintenance cost, a self-balancing scooter is considered to be a better alternative to walking as well as regular electric scooters and is increasingly used in parks, manufacturing facilities, shopping complexes, etc. across several countries of the world.

The key restraint affecting the self-balancing scooter market includes the early reporting of improper functioning of the device and overheating of battery, leading to catching of fire. Owing to this, these scooters are banned in several countries as a part of safety regulation. However, after increased investment in research and development as well as advertising and marketing strategies, self-balancing scooter manufacturers are again expecting to witness growth in countries across the world. Despite this, high cost and lack of awareness are still expected to be major hindrances for self-balancing scooter manufacturers, especially in the developing countries of the world.

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The opportunity anticipated to boost the self-balancing scooter market includes its increasing demand in college campuses owing to its stylish look and fun ride experience. Also, it is noise-free and operates on electricity, thus causing no pollution. Apart from being environment friendly, it incorporates advanced features including wireless charging and Bluetooth. Thus, the increasing inclination toward advanced electronic devices is expected to provide opportunities to the self-balancing scooter market in college campuses in the near future.

Also, self-balancing scooters are expected to explore new opportunities in assisting security guards and police officers in patrolling areas of public gatherings where automobiles might not be an efficient alternative     .

The self-balancing scooter market can be classified on the basis of product type, end-use industry, and geography. On the basis of product type, the self-balancing scooter market can be classified into unicycle and double wheeled. On the basis of end-use industry, the self-balancing scooter market can be segmented into personal and commercial. The commercial industry can be further segmented into security applications, corporate campus, and manufacturing facilities. In terms of geography, the self-balancing scooter market can be segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America. Europe is expected to be a highly attractive region contributing to the self-balancing scooter market owing to high disposable income of consumers and availability of sufficient area to use these scooters in the region.

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Prominent players operating in the self-balancing scooter market include Hangzhou Chic Intelligent Technology Co., Ltd., Ninebot Inc., Shenzhen Counterbalance Technology Co., Ltd., Inventist, Inc., Segway, Inc., Koogo Technology Inc., Freego Inc., Oxboard B.V., Robstep GB, IPS Electric Unicycle Co., Limited, Evoy Technologies, LLC, Razor USA, Sky Walkers USA, RioRand Advanced Technology, and Shenzhen Iezway Technology and so on.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

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Rocker Arm Assembly Market Challenges, Business Overview and Forecast Research Study

According to the report, the global rocker arm assembly market is projected to surpass US$ 23 Bn mark by 2030, expanding at a CAGR of ~1% during the forecast period. Rapid urbanization owing to an increase in population seeking employment, development of road and infrastructure, and expansion of the construction industry are expected to fuel the demand for transportation.

Furthermore, growth of the e-Commerce industry coupled with rapid expansion of the logistics industry across the globe and rise in demand for heavy duty vehicles for cargo transport and shipment are anticipated to propel the demand for heavy commercial vehicles. All these factors are anticipated to increase the production of automobiles during the forecast period and consequently, drive the global rocker arm assembly market.

Expansion of Rocker Arm Assembly Market

The rise in government initiatives for reduction of vehicle emission across the globe is expected to fuel the use of rocker arms in vehicle engines globally, which in turn is likely to boost the automotive rocker arm assembly market growth. Engine modification is the adjustment or tuning of the internal combustion engine (ICE) to yield optimal performance, and increase the engine’s power output, fuel economy, and durability. Tuning the rocker arms in an engine in terms of higher ratio of rocker arms enables the same cam lobe profile to produce the total valve lift, resulting in increased power output.

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Aftermarket players also introduced roller rocker arms to replace stamped steel stock rocker arms in the older vehicle models to increase their performance. Performance rockers contain a roller bearing center fulcrum and a roller on the valve end of the arm to reduce friction. These are huge improvements over the stock rockers, which enable performance at higher rpms with reduced friction. According to some manufacturers, changing from stud mounted rockers to shaft mounted rockers produces 10 to 15 more horsepower owing to increased valve train stability. Therefore, trends toward engine modification are expected to propel the global rocker arm assembly market.

Regional Analysis of Rocker Arm Assembly Market

In terms of type, the global rocker arm assembly market has been split into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Based on region, Asia Pacific is projected to be highly lucrative market, globally, during the forecast period. Asia Pacific has presence of major auto manufacturers. Additionally, China and India have a prominent aftermarket industry that caters to the automobile industry. China and India have comparatively higher consumption of vehicles than that of any other country, globally. Therefore, an increase in vehicle production coupled with rise in disposable income of the population across Asia Pacific is projected to boost the rocker arm assembly market during the forecast period.

The increasing adoption of rocker arms is projected to directly impact the growth of the global rocker arm assembly market. Rocker arm assembly machines are increasingly being due to a range of benefits, including material shortage indication, automatic elimination of NG parts during feeding, and low possibility for material jamming. Although majority of rocker arms are produced from stamped steel, the aluminum has emerged as a popular choice of materials among players involved in the current rocker arm assembly market due to the growing demand for lightweight vehicles, especially in economy cars. Roller rocker arms have emerged as the most popular type of rocker arms and its adoption is slated to be higher than that of flat rocker arms during the forecast period.

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The automotive sector is one of the hardest hit sectors amid the ongoing COVID-19 pandemic due to which, the growth of the global rocker arm assembly market is expected to remain sluggish in 2020. Delay in the delivery of raw materials, restrictions on cross-border trade of non-essential commodities, shutdown of the industries in China in the first quarter of 2020– a major automotive raw material supplier, and stringent lockdowns imposed by governments in various parts of the world are expected to hinder the growth of the global rocker arm assembly market in 2020. However, the market is likely to gradually recover from the initial slump as industries are opening up and lockdown restrictions are being lifted in several major automotive hubs worldwide.

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Vehicle Subscription Market Global Trends, Business Growth, and Forecasts 2030

According to the report, the global vehicle subscription market is projected to surpass US$ 81 Bn by 2030, expanding at a CAGR of ~15% during the forecast period. Automotive users are finding convenience in the vehicle subscription model, owing to flexible, monthly, or yearly subscription plan offerings; however, awareness about vehicle subscription model is low in Asia Pacific, as compared to that in the U.S. and Europe.

Automotive OEMs have been rolling out vehicle subscription model vehicle offerings. Competition is expected to increase in the market, as more OEMs enter, while third party players are expected to seek differentiation of their offerings compared to those of OEMs.

Expansion of Automotive Vehicle Subscription Market

The fundamental change in consumer behavior and societal trend toward individualization has resulted in the rise of subscription economy. The trend of vehicle subscription is gaining traction among urban young and middle class population. The introduction of flexible vehicle subscription models has transformed consumer preference from owning to experiencing.

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Moreover, subscribing a car makes car ownership and driving easy and hassle-free. The rise in income of middle class population has prompted young consumers to use vehicle subscription, along with high-income group population, thereby fueling the market.

In terms of vehicle subscription type, the multi-brand segment dominated the global vehicle subscription market, as currently the multi brand subscription offers a flexibility of switch to cross-brands. Based on end user, private individuals are currently witness major adoption of vehicle subscription services, while corporate end users are likely to witness high rate of adoption over the next few years.

Regional Analysis of Automotive Vehicle Subscription Market

In terms of region, the global vehicle subscription market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific is estimated to lead the global vehicle subscription market during the forecast period, due to rapid industrialization and urbanization and rising per capita income and purchasing power in the region, especially in China and India.

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The vehicle subscription model has been gaining traction in China, Japan, India, South Korea, ANZ, and countries across Southeast Asia. Awareness about vehicle subscription offerings in relatively low in Asia Pacific compared to that in the U.S and Europe; however the region is likely to witness spread of awareness and rise in vehicle subscription over the next 12 to 18 months.

Automotive Vehicle Subscription Market Players

Key players operating in the global vehicle subscription market include Fair Financial Corp, Clutch Technology, CarNext, FlexDrive, Cluno GmbH, and DriveMyCar Rentals Pty Ltd.

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Snow Sports Apparel Market Growth Overview and Forecast by 2022

While snow sports have been followed by large masses for a number of decades in the developed regions of North America and Europe, the growing popularity of Winter Olympics has only further added fuel to the market for snow sports apparel. Countries such as Norway, Austria, the U.S., France, Germany, Canada, Sweden, Russia, and Italy have been leading the ranking charts of snow sports since a long time, whereas Asian emerging economies such as Japan, China, and Australia are now also making a foray. Snowboarding, Ice Hockey, Alpine and Freestyle Skiing, Ski Mountaineering, Cross Country Skiing, Biathlon, and Ski Jumping are some of the most common snow sports played across the world. As per the findings of an up-to-date intelligence study by Transparency Market Research (TMR), the demand in the global snow sports apparel market will multiply at a healthy growth rate during the forecast 2017 to 2022.

Increased Recreational Expenditure Driving Demand

Increasing preference of outdoor recreational activities among the urban population, changing lifestyle, incremented recreational expenditure, and growing awareness among the masses regarding the physical and mental benefits of sporting activities are some of the key factors driving the demand in the global snow sports apparel market. Apart from the growing popularity of snow sports, the safety awareness among the players has increased significantly in the recent past.

As a result, increasing usage of protective gears such as shell tops and helmets is multiplying. In addition to that, consumer’s interest in nature-based gateways that offer competitiveness as well as leisure at the same time, has been steadily escalating and aiding to the global snow sports apparel market. With growing penetration of ecommerce, consumers are now able to research, compare, and buy the sporting gears of their choice. This factor is also augmenting the demand in the global snow sports apparel market.

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Winter Olympics 2014, held in Sochi, was broadcasted by 464 television channels across the world, with the TRPs touching new peaks. This competitive event is inspiring many youngsters and driving the demand in the global snow sports apparel market. The TMR report also detects that technological advancements is also favoring the demand-flow in the snow sports apparel market.

For instance, synthetic ice rinks or waterless skating rinks make use of a polymer material for skating with regular metal-bladed ice skates. The synthetic skating rinks are manufactured by interlocked panels and do not require ice. Apart from being eco-friendly, these rinks can do without refrigeration equipment for creating a mechanically frozen skating surface, and consequently reducing the operational costs considerably.

USA Makes North America the Most Profitable Region

Product-wise, shell tops dominate the demand in the snow sports apparel market, accounting for 14.8% of the global demand. The TMR report projects the demand for shell tops segment to experience a CAGR of 5.8% during the forecast period of 2017 to 2022, reaching a valuation of US$255.3 mn by 2022. Regionally, North America remains the most lucrative region for the vendors operating in the snow sports apparel market, with the regional revenue projected to reach US$546.3 mn by the end of 2022, exhibiting a CAGR of 6.5% during the forecast period of 2017 to 2022.

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Competitive Landscape

Some of the prominent companies currently operating in the global snow sports apparel market are: Nike, Adidas, Columbia, Champion, The North Face, Paradox, Armada, Boll, and Black Diamond Equipment.

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Cosmetics Ingredient Market Applications, Key players Forecast 2021-2030

A recent study published by Transparency Market Research on the global cosmetics ingredient market covers global industry analysis and opportunity assessment for 2020-2030. The complete revenue generated from the global cosmetics ingredient market is valued at US$ 30 Bn in 2020 that is anticipated to surge at a CAGR of 5.6%, to reach US$ 51.6 Bn by 2030.

Rising Demand for Anti-aging Ingredients Paving Way for Cosmetics Ingredient Market

The growing aging population endures to push up the demand for anti-aging cosmetic products. Moreover, increasing demographic of individuals looking for better appearance is likely to drive the growth of the anti-aging ingredient sector. Several ingredients that are used in anti-aging have moisturizing and skin healing properties.

These ingredients heal skin conditions, including wrinkles, acne, blemishes, eczema, and make the skin lustrous and smooth. Additionally, these ingredients also prevent sagging skin and dark spots, which are boosting the demand for anti-aging products. Hence, the rising demand for premium skin and anti-aging products is expected to augment the demand for cosmetic ingredients.

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Offering Premium Cosmetic Ingredients to Create Lucrative Avenues for Market Growth

The increase in the number of working people across the world is resulting in rising per-capita expenditure ability on cosmetic products, which is a prominent factor for sales of premium quality cosmetic ingredients. The increasing population of working women that are spending more on enhancing their appearance to appear more professional and presentable is a significant factor fueling growth of the global cosmetics ingredient market across the world. Thus, the rise in disposable incomes and working women population is directly proportional to the total spending on premium cosmetic products, which serves as an opportunistic platform for players in the global cosmetics ingredient market.

Heightened Demand for Natural Ingredients to Boost Sales

Growing concerns about side effects of various chemicals and ingredients or synthetic additives used in cosmetics and personal care products increase the demand for natural substitutes. At the back of this factor, the demand for natural cosmetic ingredients is increasing in the global market. Rising awareness and increasing expenditure on natural cosmetic products are key factors that contributed to the growth of the natural cosmetics ingredient market. Moreover, government and private corporations are also promoting use of natural cosmetic ingredients with a view to prevent and control various side effects of synthetic cosmetic ingredients, such as rashes, allergies, and other skin deformities.

Impact of COVID-19: Cosmetics Ingredient Market

The global outbreak of COVID-19 pandemic has boosted the sales of personal cleansing and hygiene products, including liquid soaps, sanitizers, and skincare products. Thus, the skin care segment, including several brands, which are focusing on the personal hygiene, along with cleansing is anticipated to drive the sales of cosmetic ingredients such as surfactants, antimicrobials, emulsifiers, emollient, anti-oxidants, humectants, and thickeners.

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Moreover, the global crisis caused due to the novel coronavirus has significantly changed the global market dynamics. This outbreak was started in China and transmitted all around the world. Due to the outbreak of the virus, governments around the world have forced complete/partial lockdown to inhibit the spread of the COVID-19 that has adversely deteriorated the supply network of several cosmetic ingredient manufacturers. The uncertainty caused by the occurrence of the novel coronavirus has interrupted the trade (import & export) of cosmetic ingredients due to the closing of international borders.

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Mattress Market : Challenges and Opportunities Reviewed in a New Study

The demand within the global mattress market is rising on account of advancements in the residential sector. The need for mattresses in households and hotel is indispensable, and this creates a plethora of opportunities for market growth. Furthermore, use of mattresses is not only related to enhancing the comfort levels of people, but also have an aesthetic dimension to it.

As custom-designed beds make their way into the residential sector, the demand within the mattress market is bound to rise. The use of small mattresses for cushioning of sofas, couches, and other furniture is also a key consideration from the perspective of market growth.

Transparency Market Research (TMR) holds that global mattress market would grow at a sturdy CAGR of 7% over the period between 2019 and 2027. The total value of the global mattress market stood at US$ 37 Bn in 2019, and this figure is expected to reach US$68 by 2027. The demand for mattresses in the residential sector has grown at a robust pace.

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Comfort comes Prior for Consumers

The level of comfort offered by a mattress depends on the type of stuffing used to plump it. The manufacturers are using the best suited materials such as cotton and fur to offer high-quality, comfortable, and durable mattresses. The cumulative demand within the global mattress market is projected to reach new heights in the years to follow. Foam and latex mattresses have especially witnessed a surge in demand in recent times. Moreover, the quest of the market players to offer the most fitting products to the consumers has aided market growth.

The demand within the global mattress market is expected to grow with advancements in several industries including interior planning, designing, and hotel management. The quest of worldwide hospitality chains to offer the highest level of comfort to guests is a key dynamic of market growth. Furthermore, the growing use of social media to write review about stays and experiences at hotels has also put hospitality vendors on their toes.

IKEA Causes Disruption in Global Market

IKEA is a renowned name in the global mattress market, and the company is known for manufacturing comfortable mattresses. The company offers a wide range of king and queen-size mattresses that are designed to ‘serve customer needs.’ The HYLLESTAD spring mattress by IKEA has become a favourite amongst consumers because of the high level of comfort offered by this mattress type.

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The resilient and comfortable foam of the mattress binds along the contours of the body to offer premium comfort and rest. The growth of IKEA into a mammoth-sized market vendor has aided market growth. Sleepwell has also emerged as a renowned player in the global mattress market, and is rapidly growing into a preferred brand for consumers.

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