Overview of the global automotive airless radial tire market
The global automotive airless radial tire market is anticipated to grow at a steady rate and will post a CAGR of close to 40% during the forecast period. The rising demand for specialized tires such as airless tire from construction, mining, and agriculture machinery will drive the growth prospects for the global automotive airless radial tire market until the end of 2021. According to the market research information, the number of investments in the mining industry is increasing due to the growing preference for metals, large and ultra large radials that are used in mining equipment and construction machinery, and other related products. Some of the major factors responsible for the growing demand for airless tires is the increasing demand for construction machines and the development of infrastructures. Also, the growing demand for agricultural equipment will drive the preference and demand for airless tires. It has been observed that the economic growth and population growth in developing nations will result in the mechanization of agricultural activities. Furthermore, with the growing focus of the government on the agricultural sector, the sales of these tires in the agricultural equipment is increasing.
The emergence of advanced tire technologies to revolutionize airless tires will drive the growth prospects for the global automotive airless radial tire market for the
Overview of the global mobility scooters market
Technavio’s market research analyst predicts the global mobility scooters market to grow steadily at a CAGR of above 5% by 2021. One of the key drivers for the growth of this market is the increased adoption of technologically advanced and cost-efficient products. The rise in the adoption of electric drivetrain cars, scooters, and motorcycles, a wide range of electric drivetrain components such as battery packs, controllers, motors, and power electronics are available in the market today at low supplier costs. This has given the manufacturer of mobility products an opportunity to sell their offerings at lower costs in comparison to that in the previous years. The decline in cost will significantly increase the rate of adoption of mobility scooter market in the coming years.
In terms of geography, the Americas accounted for the maximum market share during 2016 and will continue to dominate the market for the next few years. Factors such as, expanding older population base and the increasing awareness of new technologies in the healthcare sector are some of the key contributors to the growth of the mobility scooter market in the region. Moreover, favorable reimbursement policies and the effort toward reducing patient expenditures in the US and Canada aid in enhancing the adoption of mobility scooters in the region. For instance, the Affordable Care Act (ACA) and the Older Americans Act (OAA) in the US, and the DTCC in Canada encourage the purchase of mobility scooters and will propel the growth of the market during the forecast
Overview of the global light- and heavy-duty natural gas vehicle (NGV) market
Market research analysts at Technavio predict that the global light- and heavy-duty NGV market will grow steadily during the next four years and in terms of units, will post a CAGR of more than 5% by 2021. This market research analysis identifies the higher fuel efficiency of natural gas trucks as one of the primary growth factors for this market. It has been observed that fuel prices account for almost 30% of the total acquisition cost of commercial vehicles. Though this induces fleet owners to prefer commercial vehicles with a reasonable engine horsepower and better fuel efficiency, fluctuating fuel prices make it difficult for fleet owners to forecast operational costs. This will result in the increased adoption of natural gas vehicles since the low cost of natural gas reduces the cost per mile of NGVs.
The introduction of multi-fuel engines will be one of the major factors that will gain traction in this market in the coming years. To overcome the shortcomings of a fuel type, original equipment manufacturers (OEMs) will increasingly focus on the development of engines that are compatible with multiple fuels. Niyato Industries has already developed a tri-fuel system for the Ford F-150 which can operate using multiple fuels such as gasoline, compressed natural gas (CNG), and propanone.
Competitive landscape and key vendors
The market is characterized by the presence of a considerable number of natural gas vehicle manufacturers and is fragmented. Market players who have a wide product portfolio and an enhanced geographical presence currently dominate the market. One of the major
Overview of the global automotive UBI market
The global automotive UBI market is anticipated to grow at a steady rate and will post a CAGR of close to 8% during the forecast period. The increasing government initiatives to encourage the use of telematics will drive the growth prospects for the global automotive UBI market until the end of 2021. According to the industry research report, the increasing demand for vehicle tracking and navigation services in passenger vehicle drives the demand for telematics systems in the passenger vehicles sector. Also, a large number of regulatory bodies across the globe focus on key functions such as emergency call (eCall) and stolen vehicle tracking systems besides other services offered by telematics solutions. Moreover, the increasing demand for these functions is driving the adoption of connected services by automotive original equipment manufacturers (OEMs). Since the major purpose of eCall is to address and assist passengers involved in accidents, the demand for telematics is gaining traction in the market. In addition, the installation of telematic devices enables the safety bodies to communicate the information to roadside assistance teams about factors such as GPS coordinates, airbag deployment, and impact sensor information when the vehicle meets with an accident. Furthermore, authorities that are responsible for tracking down stolen vehicles use stolen vehicle tracking systems. Some of the regulations mandated by transportation and safety bodies around the world are Event Data Recorder Legislation, Era-Glonass Project, and Satellite Positioning and Telematics Systems.
Overview of the global sports utility vehicle (SUV) market
Technavio’s market research analyst predicts the global sports utility vehicle (SUV) market to grow at a CAGR of more than 19% during the forecast period. At present, the SUV market is witnessing high volume sales of small and crossover SUVs owing to their affordability and low cost of ownership. In the recent years, the automotive industry has observed the launch of diverse segments of SUVs including entry level SUV, 4×2 SUVs, 4×4 SUVs, medium-sized SUVs, premium medium-sized SUVs, and luxury full-sized SUVs. Several automakers are also introducing new lines of utility vehicles such as multi-purpose vehicles (MPVs) and cross-utility vehicles (CUVs), which has led to an overall increase of the client base of the global SUV market. With the shift in the consumer requirements for an off-roader is further fueling the growth of SUVs in the global automotive market.
One of the latest trends gaining traction in the market is the increasing demand for small and compact SUVs in emerging markets. The leading automakers are focusing on developing entry-level, small size and medium-sized SUVs to extend their customer base and increase their product portfolio. They are launching new vehicle concepts, such as crossover SUVs, which has an SUV-like stance but ride like a sedan. The rapid development and production of small and compact SUVs will be a key factor in fueling the growth of SUV market in the coming years owing to their massive sales.
Competitive landscape and key vendors
The global SUV market comprises several global as well as regional automakers. The competitive environment in this market is very high due to the presence of extensive SUV portfolios of players. APAC is the fastest-growing region in the SUV market and holds high growth
Overview of the global ethanol bus market
Technavio’s market research analyst predicts the global ethanol bus market to grow at a CAGR of more than 10% between 2017 and 2021. Countries across the globe have come up with stringent emission norms to minimize global warming by reducing emissions. Governments are making efforts worldwide to minimize the negative effects of global warming and reduce GHG emissions. As greater number of countries are implementing emission standards, the use of hybrid and alternative fuel vehicles like the ethanol bus is expected to increase during the forecast period. Hybrid powertrain systems are rapidly gaining momentum in several countries as they reduce fuel consumption and vehicle emissions. Hybrids have become the most viable alternative to emission-related issues where major OEMs have shifted their focus to the development of various hybrid vehicle models. With the rapidly growing demand for fuel-efficient vehicles among consumers, the use of ethanol buses will subsequently increase during the forecast period.
At present, the market is witnessing a gradual industrial shift towards the use of second-generation ethanol. Second-generation ethanol is made from cellulosic feedstock and has better energy balance than the first-generation ethanol as the cellulosic feedstocks consume lesser fossil fuel energy in the production process. Cellulosic ethanol is likely to reduce GHGs by over 86% compared to its first-generation counterpart, which is likely to have reduced GHGs of up to 52%. With cellulosic ethanol
Automotive manufacturing has evolved by optimizing operational and manufacturing efficiencies. The major regions that contribute to market growth are those with the highest automobile production: North America, South America, Europe, and Asia-Pacific
Apart from vehicle manufacturers, the extended automotive manufacturing ecosystem includes automotive battery manufacturers, automotive glass manufacturers, automotive manufacturing processes, automotive manufacturing solutions, and automotive parts manufacturers.
As economic conditions stabilize the effect on consumer behavior has been pronounced, which has been a key reason for the growth in the automobile industry, especially in Asia-Pacific. Additionally, stronger automotive exports due to widespread globalization, coupled with increased automation of automobile manufacturers’ production, have boosted growth in the sector. Automobile manufacturers are among the leading purchasers of aluminum, copper, iron, plastics, rubber, steel, and other metals for vehicle manufacturing.