Overview of the global aftermarket for engine oils in passenger cars
The global aftermarket for engine oil in passenger cars is anticipated to grow at a steady rate and will post a CAGR of more than 3% during the forecast period. According to the market research analyst, the increase in average miles driven will drive the growth prospects for the global aftermarket for engine oils in passenger cars in the coming years. In the Americas, it has been estimated that 70% of the states have experienced an increase in the miles traveled per capita. Some of the regions in the Americas that have experienced this growth are Oregon, Alaska, Georgia and Texas. One of the major factors responsible for the growth in the average miles driven includes the demography of the consumers.
The rise in road tourism in India and China will drive the growth prospects for the global aftermarket for engine oils in passenger cars during the forecasted period. The increasing average miles driven per capita due to the growing road tripping tourism in China is directly influencing the consumption of engine oils. Some of the most preferred spots for road tourism in China are Guiyang in Guizhou province and Dali and Lijiang in Yunnan province. One of the major factors responsible for the growing average in the miles driven is the increasing preference for tour packages among consumers. For instance, travel agencies like China Youth Travel Service customize their tour packages by including rental cars and enable road-tripping and sightseeing with limited transportation facilities.
Competitive landscape and key vendors
The global aftermarket for engine oil in passenger cars is highly competitive and diversified due to the presence of a large number of regional and international vendors across the globe. Many of these vendors collaborate with original equipment manufacturer (OEMs) to
Overview of the global tractor rental market
The global tractor rental market is anticipated to grow at a steady rate and will post a CAGR of more than 8% during the forecast period. The growing participation from private players and increasing government initiatives will drive the growth prospects for the global tractor rental market until the end of 2016. The agricultural sector in the majority of economies across the globe is focusing on the improvement of their farm productivity. Consequently, the government is taking up more initiatives to improve agricultural activities by increasing its expenditure on the agricultural technologies. In addition, a large number of private players are entering the agricultural sector and are contributing heavily by investing in newer program initiatives. For instance, in India, ITC, has plans to make Andhra Pradesh, a major hub for its agricultural business unit. Also, the 2016-2017 budget was proposed to implement certain measures to improve the agriculture sector and farmer's welfare by increasing the land under irrigation, providing subsidies to gram panchayats of villages and municipalities, and providing 100% electrification in villages by May 2018. Furthermore, the government of the USA has significantly increased its capital investments in the agricultural sector. For instance, as an agricultural subsidy, the government provides approximately USD 30 billion annually to the farmers of corn, rice, soya bins, wheat, and other crops.
The increasing consolidation of fragmented lands in Europe and the Americas will drive the growth prospects for the global tractor rental market in the coming years. Since the return on investment witnessed from the larger farms is much greater than the smaller farms, the trend of land consolidation in the Americas and Europe is significantly growing. For instance, large companies such as Farm and Ranch supply stores in the US, Monsanto
Overview of the self-drive car rental market in the emerging countries
Technavio’s market research analyst predicts the self-drive car rental market in the emerging countries to grow tremendously during the forecast period, posting a high CAGR of more than 22%. The self-drive car rental market in the emerging countries is mainly driven by factors such as government restrictions regarding private car ownerships and increased access to technological advancements like the Internet and smartphones. The Chinese self-drive car rental market is the largest among the three emerging economies and contributed to the maximum share in the overall market. Changes affecting the Chinese self-drive car rental market will have a strong impact on the overall self-drive car rental market of the emerging countries. However, the self-drive car rental market in India will account for the highest growth compared with the Chinese and Brazilian self-drive car rental markets in the coming years. The market is at its nascent stage and offers immense growth opportunities for the market players.
OEMs like General Motors and Ford are competing to create their fleet of self-driving cars. They are also entering partnerships with several self-drive car rental companies and managing their fleet. Through such strategies, OEMs get a better comprehension of the issues regarding ferrying people from location to location and road specific conditions and obstacles faced by the drivers. OEMs can also utilize the self-drive car company’s fleet for introducing their self-driving driverless cars in future. Also, OEMs would benefit from the sale if the customer renting the car gets induced to buy the same. Ford has collaborated with Zoomcar in India, for operating a car-sharing initiative, which focuses on the smaller groups of people such as co-workers, families, and
Overview of the all-terrain vehicle (ATV) market
Extensive research carried out by the analysts at Technavio has shown that the global all-terrain vehicle (ATV) market will witness fast-paced growth and post an impressive CAGR of more than 8% during the forecast period. All-terrain vehicles can move quickly and seamlessly on mountainous and rocky terrains, which is one of the major factors leading to their increased adoption in the recent years. The majority of American consumers are increasingly using ATVs in different terrains like forest, agricultural lands, and mountains. Moreover, many countries including Australia, US, Germany, and India are adopting ATVs for farming as using ATVs requires less manpower and decreases the overall cost of farming. Also, as ATVs or quad bikes can operate in muddy and rough areas, they have a lot more advantages than regular vehicles. With manufacturers trying to expand the adoption of ATV in African countries, this market is likely to have a positive outlook over the coming years.
The growing penetration of continuous variable transmission (CVT) in ATVs is one of the latest trends gaining significant traction in the market. ATV OEMs are increasingly shifting from manual transmission to continuous variable transmission in ATVs. CVTs are used in snowmobiles, in a few types of ATVs, and a variety of other automobiles. CVTs facilitate riders from continuous gear shifting pattern and is more efficient than manual transmissions. Moreover, CVTs have high mechanical efficiency and less emissions because of change in manifold tuning and ignition time. Many companies like Honda Motor and Yamaha Motor are rapidly changing their transmission systems to
About Used Cars
Used cars are increasingly becoming an alternative for new vehicles due to increase in consumer interest and popularity of certified programs. The used car market in the US comprises micro cars, economy cars, luxury cars, specialty cars, minivans, SUVs, pickup trucks, and commercial vans. The vendors in the used car market offer a range of automotive products and services, such as new and used vehicles, automotive finance, repair services, and insurance.
The market is expected to witness a growth in the volume of off-lease vehicles as a large number of these vehicles will be back in the market in 2014.
Technavio's analysts forecast the used car market in the US to grow at a CAGR of 6.95 percent, in terms of revenue, during the period 2014-2019.
Covered in this report
This report covers the present scenario and the growth prospects of the used car market in the US for the period 2015-2019. To calculate the market size, it considers the average price of used cars in the US. The report considers the market size in terms of both revenue and units, but only for passenger vehicles.
It discusses the major drivers that influence the growth of the market and outlines the challenges faced by vendors and the market at large, as well as the key trends that are emerging in the market.
The key customers in the market are the end users.
The report presents the vendor landscape and a corresponding detailed analysis of the leading vendors in the market. The report discusses the major drivers that influence the growth of the market. It also outlines the challenges faced by vendors and the market at large, as well as the key trends emerging in the market.
• Penske Automotive Group
• Sonic Automotive
Other Prominent Vendors
About Smart Railway System
Traffic congestion on roadways has increased the demand for railways. Compared to other modes of transportation, people find trains are more feasible and convenient to travel. Moreover, railways are considered as a safer and cleaner option when compared to roadways. An increase in the demand for railway transport has made it mandatory for railway operators to make their systems more advanced and automated. A smart railway system comprises solutions, devices and components, and services, which automates and optimises the usage of railway infrastructure to carry out advanced functions. It has several components such as passenger reservation and information systems, freight operation information systems, railway traffic management, operations and asset management, IP-based security monitoring, communications, ticketing, and railway analytics.
TechNavio's analysts forecast the Global Smart Railway System market to grow at a CAGR of 26.76 percent over the period 2014-2019.
Covered in this Report
The Global Smart Railway System market can be divided into three segments: Solutions, Devices and Components, and Services. The products in these segments help railway operators automate their systems and provide an efficient service to their customers.
TechNavio's report, the Global Smart Railway System Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the APAC region, Europe, Latin America, the Middle East, and North America; it covers the Global Smart Railway System market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
• Middle East
• Latin America
• North America
The automotive service industry refers to aftersales services for vehicles, including servicing, maintenance, and the sale of vehicle parts. Vehicle upkeep and repair is becoming increasingly important, as vehicles have become more complicated with the advent of high-tech automotive components, including cameras and sensors.
The global automotive repair and maintenance services market is essential for a vehicle’s effective service life. To be relevant, the automotive service market has to cater to new product features of the automotive industry, such as hybrid and electric drivetrains.