Online Home Decor Market: Competitive Landscape, Future Plans, Opportunities and Comprehensive Research Study Till 2030

Transparency Market Research delivers key insights on the global online home decor market. In terms of revenue, the global online home decor market is estimated to expand at a CAGR of ~8% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in the global online home decor market report.

In this market report, TMR predicts the growing demand for home decor across the globe to have a noteworthy impact on the overall online home decor market. The advancements in product design and the introduction of multi-functional home furnishing products are anticipated to propel the sale of online home decor in the Europe region.

The growing popularity of interior decoration and rapid growth in residential construction activities are expected to propel the market during the forecast period. Furthermore, increasing trend of shopping through online platforms by customers using their smartphones is also influencing users to opt for online home decor products and bridging the gap, which is driving their demand. The boom in the e-Commerce industry has created huge opportunities for manufacturers and distributors operating in the online home decor market.

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Producers and suppliers of home decor products are focusing on selling their products on various e-Commerce websites across the globe to cater to a comprehensive range of customers across the world. Several home interior designers and retailers are entering the online space and offering newly designed home decor products. They are also providing attractive discounts, exchange offers, and instalment schemes to customers to direct their attention toward their exclusive range of products.

In terms of product type, the online home decor market has been segmented into furniture, textiles, flooring, wall décor, lighting, and others. During the forecast period, the online home decor market is anticipated to be dominated by the furniture segment. Based on price category, the online home decor market has been categorized into mass and premium. The increasing demand for mass products by users is expected to drive the online home decor market in the next few years.

In terms of distribution channel, the online home decor market has been classified into e-Commerce websites and company-owned websites. The e-Commerce websites segment is anticipated to expand at a significant growth rate during the forecast period. Europe has seen a surge in the adoption of e-Commerce among consumers, which, in turn, has increased online sales of home décor products.

Online Home Decor Market: Prominent Regions

The Europe region led the online home decor market in 2019 and the region is expected to retain its dominance during the forecast period. Germany and the U.K are considered the major markets for online home decor in Europe. Apart from Europe, Asia Pacific also significantly contributes to the growth of the global online home decor market. Increasing disposable income of consumers and rising penetration of Internet-based devices providing access for online shopping are likely to fuel demand for online home decor products in Asia Pacific. In addition, rapid growth in the demand for home décor products in developing countries, such as China and India is influencing end users to opt for online shopping platforms to purchase home décor products. This is also a major factor driving the expansion of the online home decor market.

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Online Home Decor Market: Key Players

The competition landscape of the online home decor market is highly fragmented with leading players accounting for the major share of the market revenue. Key players operating in the global online home decor market include Inter IKEA Systems B.V., Home Depot Product Authority, LLC, Herman Miller, Inc., Ashley Home Stores, Ltd., Home 24 SE, pepperfry, Lowe’s Companies, Inc., and Kimball International Inc.

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Passenger Ferries Market 2020 Global Size, Share, Industry Growth, Competitive Landscape and Outlook 2027

The passenger ferries market is expected to witness robust growth during 2019-2027. The rise of low-cost airlines around the world and growing policies to encourage tourism are expected to drive significant growth for the passenger ferries market. Additionally, rising consumer preference to visit tropical islands, seas, and oceans is also a major boost for the passenger ferries market. In many important nation dependent on tourism solely, passenger ferries also remain an integral part of the public transport system. Growing adoption of sustainable, high-tech, and clean passenger ferries are expected to drive the next wave of innovation in the passenger ferries market.

Passenger Ferries Market: Notable Developments

Passenger ferries market is witnessing a rising adoption of ferries in conventional cities like Seattle wherein the traffic is driving more and more people out of their usual path. Additionally, ferries also travel faster to take more passengers to their workplaces, which thanks to rising costs of housing are much farther on average. In 2018, a total 12.1 million passenger used the Washington ferries as compared to simply 430,000 in 2014. The tremendous growth in passenger services is also thanks to the foot ferries, which are dominating growth. Foot ferries are at the forefront of meeting consumer demands and thanks to their prompt schedules, and more number of ferries, it drove 8, 76,000 across, the highest recorded service segment.

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California Air Resource Board has provided 3 million dollar funding for the first hydrogen fuel cell boat. The funds are allocated for a 70 foot-84 passenger carrying large ferry, which will be first commercial ferry in the world powered by hydrogen. This is a major step in the use of alternative fuels and promises a major leap for the industry as regulations regarding fuel use continues to grow. The industry had set sights on using 50% alternative fuel usage by 2050. The usage of hydrogen ferries and large commercial ones are expected to drive usage of clean fuels in the near future.

Global Passenger Ferries Market: Drivers and Restraints

Rising commute of passengers remains a key driver of the global passenger ferries market. in places like Seattle, where ferry business is registering tremendous growth, the costs of housing continues to rise. The expansive costs of housing, the viability of ferries on many routes across countries, and rising demand for new forms of transportation are expected to drive growth for the passenger ferries market. Additionally, the rise of tourism is also expected to augment significant growth for the passenger ferries market. Rising demand to travel to exotic locations, the solace offered by island locations, and access to water are major drivers for the passenger ferries market for tourists.

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Global Passenger Ferries Market: Geographical Analysis

The passenger ferries market is expected to register highest growth in North America. The rising demand for public transportation, the emerging status of ferries in key locations as a viable alternative, and innovation in fuel technologies are likely to drive growth of the market. Additionally, the rising costs of housing, the affordability of travelling by public transport, and growth of the suburbs across countries like the United States are expected to drive growth. Moreover, the passenger ferries market is also expected to witness significant growth in Asia Pacific. The region is home to a booming tourism industry with countries like Malaysia, Indonesia, Thailand, and Australia taking a significant lead in growth of the passenger ferries market. Additionally, many countries in Africa as well as large Asian economies like India, China, and Japan are making significant investment in improving maritime infrastructure to drive growth of the passenger ferries market.

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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Vehicle Roadside Assistance Market: Key Strategies to Use to Dominate Globally 2020-2027

Vehicle roadside assistance refers to a service helping the driver of a vehicle during the breakdown of the vehicle. Vehicle roadside assistance solutions provide on-site help to the owners or drivers with basic support. This basic support comprises misplaced or lost keys (lockout service), flat tire support, on-site minor mechanical and electrical repair, fuel delivery service, and battery jump start. It is simply an effort by professionals of the automotive industry to solve minor issues of a vehicle during a breakdown. The global vehicle roadside assistance market is expected to observe rapid growth due to increased production of automobiles all over the world.

Some of the key companies mentioned in the this report on global vehicle roadside assistance market comprise TVS Auto Assist India Limited, Falck A/S, Allianz Global Assistance, Twenty Four OTR Pvt Ltd, Viking Assistance Group AS, Good Sam Enterprise, LLC, ARC Europe SA, and SOS International A/S.

Utilizing extensive research methods, Transparency Market Research presents an all-inclusive study on the global vehicle roadside assistance market, for the period 2019 to 2027. The report estimates that the global vehicle roadside assistance market is likely to register growth at 4% CAGR.

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Europe to Emerge as a Prominent Region over the Forecast Timeframe, from 2019 to2027

The global vehicle roadside assistance market is segmented into the principal regions of North America, Latin America, the Middle East and Africa, Europe, and Asia Pacific. Considering region-based segmentation of the global vehicle roadside assistance market, it is likely that Asia Pacific is going to emerge as highly lucrative region during the timeframe of assessment, from 2019 to 2027.

The vehicle roadside assistance market is likely to observe considerable growth in Europe as well. There has a substantial rise in sales and vehicle registrations in Europe. With the increased number of automotives plying on the road, more breakdown could be observed, which is likely to stimulate growth of the Europe vehicle roadside assistance market during the tenure of assessment.

Apart increased sales of vehicles, extremely cold climatic conditions coupled with easy availability of such services on the roads of Europe, it is likely that market will register robust growth in forthcoming years.

Rise in Aging Automotive Stimulates Growth of the Market

A considerable rise in the aging automotive, which is more likely to witness breakdown on the roadways is expected to support growth of the global vehicle roadside assistance market in forthcoming years. Aging vehicles are prone to witness frequent mechanical and electrical problems and are more likely to demand this service. Furthermore, use of an app-driven services leads to quick response and minimization of response period for assistance. Such app-based services are likely to accelerate demand for vehicle roadside assistance solutions.

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Increase in production of vehicles has resulted in road collisions and traffic jams, which has led to increased government effort to offer these services. This factor is likely to support expansion of the size of the global vehicle roadside assistance market in foreseeable future.

The information shared in this review is based on a TMR report, bearing the title, “Vehicle roadside assistance market (Service – Towing, Tire Replacement, Fuel Delivery, Jump Start/Pull Start, Lockout/ Replacement Key Service, Winch, Battery Assistance, and Trip Routing/ Navigational Assistance; Provider – Auto Manufacturer, Motor Insurance, Independent Warranty, and Automotive Clubs; Vehicle – Passenger Vehicle and Commercial Vehicle) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2019 to 2027”.

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Truck Rental Market: Leading Segments and their Growth Drivers 2020-2030

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. 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.

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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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OTR Tire Market: High-growth Regions to Expand Geographic Footprint 2020-2027

According to the report, the global OTR tire market is projected to reach ~US$ 26 Bn by 2027, expanding at a CAGR of ~4% during the forecast period, primarily driven by an increased use of tractors globally. Asia Pacific holds a leading share of the global market, owing to high demand for OTR tires in China and India. The market in developing regions such as Latin America & Middle East & Africa is anticipated to witness expansion, owing to increased government spending on infrastructure and increased mechanization rate in agriculture in these regions.

Expansion of OTR Tire Market

Rise in urbanization and sustained investment in construction are driving the usage of construction vehicles, thus boosting the demand for OTR tires. The U.S. Government has announced plans for infrastructure investment of US$ 1.7 Trn to develop rural infrastructure, highways, and bridges.

Moreover, EU–China deal, named Belt and Road Initiative, of US$ 9 Bn to construct an intercontinental highway is expected to drive the demand for construction vehicles, thereby boosting the demand for OTR tires. Furthermore, increased industrial activities in Asia Pacific and Latin America is driving the sales of electric forklifts and warehouse trucks in these regions. Additionally, the demand for lean production is driving the adoption of large number of industrial vehicles within facilities and warehouse, which in turn is boosting the OTR tire market.

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Based on industry type, the agriculture segment is expected to dominate the global OTR tire market both in terms of volume and revenue. Modernization of agricultural activities and rising consumer demand due to rising population are boosting the adoption of tractors and agricultural equipment, which in turn is driving the demand for OTR tires. The construction & mining segment of the market in Asia Pacific, Latin America, and Middle East & Africa is expected to expand at a high growth rate during the forecast period. Recovery of the economy of Brazil is expected to witness higher budgeting for infrastructure, thus boosting the sales of construction vehicles. This, in turn, is anticipated to propel the OTR tire market in the country.

In terms of rim size, giant OTR tires of 51’’ to 63’’ rim size are expected to witness significant demand owing to a rise in number of construction projects in developing countries. Stability of commodity prices has boosted the mining sector. Usage of dump trucks, excavators, scrappers, and other mining vehicles to improve the output is expected to boost the demand for OTR tires.

Regional Analysis of OTR Tire Market

In terms of region, the global OTR tire market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific is a key market for OTR tires globally. Abundance of natural rubber in the region has played an instrumental role in achieving competitive pricing of OTR tires. Rapid economic expansion witnessed by countries in Asia Pacific is expected to boost industrial activity and construction projects, thus driving the OTR tire market in the region.

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Prominent players operating in the global OTR tire market include Continental AG, Bridgestone Corporation, MICHELIN, Yokohoma Tire Corporation, Sumitomo Rubber Industries, Ltd., Nokian Tyres, China National Tire & Rubber Co., Ltd., Trelleborg AB, Apollo Tyres Ltd., Qingdao Rhino Tyre Co., Ltd., Titan International, Inc., Balkrishna Industries Limited, Double Coin Tyre Group Ltd., and Triangle Group Co., Ltd.

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Cooling Tower Market: Factors Helping to Maintain Strong Position Globally 2020-2027

According to a new market report published by Transparency Market Research on the cooling tower market for the forecast period of 2019-2027, the global cooling tower market is expected to reach ~US$ 5 Bn by 2027, expanding at a CAGR of ~3% from 2019 to 2027. Europe held a prominent share of the global cooling tower market in 2018.

Field-erected cooling towers are large structures made of concrete, FRP (fiber reinforced plastic), wood, etc., meant to withstand weather changes. These towers are generally used in heavy industrial areas where they utilize large volumes of water to perform cooling processes. They are anticipated to hold the largest market share by 2027 under the construction segment. Factory-assembled cooling towers are also known as ‘package’ or ‘modular’ cooling towers, and are made in a factory. They are comparatively smaller in size, energy-efficient, take less space and time to build, and are cost-effective. These are used in small industrial plants.

The North America cooling tower market is anticipated to grow at significant rate during the forecast period. In North America, end-use industries such as the power sector extensively use field-erected, concrete-made cooling towers that can hold large capacities of water. Moreover, the induced draft type is a widely used cooling tower technology in North America. For instance, global cooling tower manufacturer SPX Corporation recommended replacing a 80 horsepower (HP) forced draft cooling tower with a 30 HP induced draft cooling tower, which increased the cooling tower capacity by 5%, and consumed only 38% of energy as compared to a forced draft cooling tower.

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The induced draft cooling tower segment holds the largest share of the cooling tower market in North America, and is expected to lead the market during the forecast period. Natural draft cooling towers are the second-most popular type installed in North America. Natural draft cooling towers consume less power than induced draft cooling towers.

Europe is the largest cooling tower market, globally. New cooling tower installations and replacement demands are aiding in the growth of the market in Europe. The power sector in the region, especially gas-fired power plant installations, is fueling the demand for these towers. Evaporative technology is the most common technology used in cooling towers in Europe. In evaporative technology, there is direct contact of cooling tower water with the air. In October 2016, EUROVENT, an association of cooling tower manufacturers in Europe, released Eurovent 9/12, which is an industry standard for thermal performance efficiency for evaporative cooling towers and other cooling equipment. The evaporative cooling tower segment holds the maximum market share, while dry cooling is the second-most used technology. This method of heat transfer is expected to grow moderately during the forecast period. Hybrid cooling towers are witnessing increase in demand, as they reduce thermal plume and conserve freshwater use in plants.

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Some of the major players in the global cooling tower market include Baltimore Aircoil Company (BAC), ENEXIO Management GmbH, Hamon & Cie (International) SA, Babcock & Wilcox Enterprises, Inc., SPX Corporation, Bell Cooling Towers Pvt. Ltd, Brentwood Industries, Inc., Paharpur Cooling Towers Ltd, Star Cooling Towers, and Delta Cooling Towers, Inc.    

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In-flight Catering Services Market: Consumption, Sales, Production, and Other Forecasts 2020-2027

The growth of the global in-flight catering services market is reflective of the customer-centricity of airlines. World-renowned airlines have earned the trust of frequent fliers through their premium services. Besides, the aviation industry has transcended as the most sophisticated, customer-oriented, and refined sector. The importance of in-flight catering services in adding value to the experience of guests has played a vital role in market growth. Airline operators invest large sums of money in training flight attendants to provide premium catering services. Moreover, airlines are also investing ample time in narrowing down on the best option for in-flight meals. It is, therefore, safe to expect that the global in-flight catering services market is riding along a lucrative pathway.

Transparency Market Research, in a research report predicts that the global in-flight catering services market would expand at a steady CAGR of 5.0% over the period between 2019 and 2027. Furthermore, the total value of the global in-flight catering services market held a total value of US$ 18 Billion in 2018.

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Strategies of Renowned Airlines

Singapore airlines has earned the prestige of being one of the most customer-centric airlines. With their personalised approach and premium services, the airlines have constantly earned accolades and appreciation from travellers. The expertise of the staff in food catering has been a matter of distinction for the Singapore Airlines. The growth of this well-acclaimed carrier has also contributed towards the growth of the global in-flight catering services market. Moreover, other airlines are also making prudent efforts to match the starry standards set by Singapore airlines.

Emirates has emerged as the favourite airline in terms of food catering. The meals provided by emirates are a matter of discussion amongst allied travellers. The desserts and snacks provided by emirates are especially very popular amongst frequent fliers. The hospitality of the emirates staff while offering food catering services has also earned global recognition. It is expected that the global in-flight catering services market would grow alongside key developments across major airlines. A major proportion of the airline budget is dedicated towards ensuring premium in-flight catering services.

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Boom in the Aviation Industry to Drive Sales

After witnessing a prolonged damp period, the aviation industry has regained momentum over the past few years. The boom in the industry can be attributed to multiple factors including favourable government policies, large-scale funding from key-investors, and increasing air traffic. Considering the aforementioned factors, the global demand within the in-flight catering services market is expected to touch new heights. However, introduction of paid meals by certain airlines is a matter of concern for the market vendors.

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