Antioxidants Market Set to Exhibit Tremendous Growth in Coming Years

The increasing consumption of processed foods is driving the demand for antioxidants. As processed food items are high in carbohydrates, saturated fats, free sugars, sodium, and total fats and low in various essential nutrients such as vitamins, potassium, proteins, and fiber, their increasing consumption is responsible for several health problems such as low and high blood pressure. The rising prevalence of such health problems is fueling the demand for natural antioxidants, as these compounds protect the cells from the harmful effects of free radicals, which are present in processed foods.

Antioxidants Market - P&S Intellgience

Vitamin C, vitamin A, vitamin E, carotenoids, and polyphenols are the most commonly consumed natural oxidants. On the other hand, butylated hydroxytoluene (BHT), tert-butylhydroquinone (THBQ), Propyl Gallate (PG), and butylated hydroxyanisole (BHA) are the most widely consumed types of synthetic antioxidants. Between the two types of antioxidants, the demand for natural antioxidants is predicted to be higher in the forthcoming years. This will be because of the several anti-ageing benefits of these products and the rising public awareness about healthy eating habits.

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Additionally, the increasing urbanization rate, soaring disposable income of people, and escalating working hours are also pushing up the demand for processed and fast foods, thereby powering the growth of the global antioxidants market. Antioxidants are basically substances that can mitigate the damage caused to other items because of oxidation. Food and beverage, cosmetics, feed additives, and pharmaceutical industries are the major application areas of antioxidants. Out of these, the use of antioxidants is predicted to be the highest in the food and beverages industry in the upcoming years.

Across the globe, the sales of antioxidants will surge sharply in the Asia-Pacific (APAC) region in the upcoming years, as per the estimates of the market research company, P&S Intelligence.

Hence, it can be safely said that the demand for antioxidants will boom in the upcoming years, primarily because of the increasing consumption of processed foods across the world. 

Automotive Camera Module Market Set to Exhibit Tremendous Growth in Coming Years

 The increasing popularity of autonomous and luxury vehicles and the rising integration of advanced safety features in automobiles are some of the major factors fuelling the surge in the adoption of camera modules in automobiles across the world. Furthermore, the mushrooming incidence of road mishaps and accidents is boosting the growth of the insurance companies, who are in turn, promoting the incorporation of complementary metal-oxide semiconductor (CMOS) sensors such as camera module sensors having several features and affordable costs in vehicles all over the world.

Automotive Camera Module Market - P&S Intelligence

The increasing number of regulations and policies being implemented by the governments of several countries for mandating the adoption of multi-purpose cameras in vehicles in order to reduce the prevalence of road accidents and the growing popularity of the New Car Assessment Program (NCAP) are the other major factors boosting the demand for automotive camera modules throughout the globe. As a result, the global automotive camera module market is expected to exhibit substantial growth during the forecast period (2020—2030). 

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The automotive camera modules are divided on the basis of technology into infrared, thermal, and digital camera modules. Out of these, the thermal camera modules are predicted to register the highest sales during the forecast period. This is ascribed to the ability of the thermal cameras to operate properly in adverse weather conditions such as rain and fog and their widespread usage in night vision systems. The infrared camera modules are also predicted to record tremendous growth in usage during the forecast period, primarily because of the presence of infrared camera technology in autonomous vehicles across the globe. 

One of the prominent trends presently being witnessed in the automotive camera module market is the rising adoption of automotive camera modules and cameras in advanced driver assistance systems (ADAS) across the world. Many original equipment manufacturers (OEMs) are increasingly developing and integrating advanced night vision camera modules in automobiles for curtailing the prevalence of road collisions. In addition to this, the modular automotive reference system (MARS), comprising image sensors, image signal processors, and various types of lenses is being increasingly adoption in autonomous vehicles, in-cabin cameras, and surround-view and rear-view systems. 

Across the globe, North America is predicted to observe the highest demand for automotive camera modules during the forecast period, owing to the mushrooming popularity of luxury vehicles and increasing incorporation of ADAS in commercial vehicles and passenger cars in the region. Europe is expected to register the second highest sales of automotive camera modules during the forecast period, due to the presence of various regulations and norms regarding the integration of ADAS and other safety technologies in passenger cars in the region. 

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Therefore, it can be concluded that the demand for automotive camera modules will shoot-up throughout the world in the coming years, mainly because of the rising sales of autonomous and premium-class vehicles, increasing incidence of road accidents and collisions all around the world, and the ballooning requirement of advanced safety systems and features in vehicles across the world. 

Electric Bus Market: What are the Key Growth Factors?

The concerns regarding the greenhouse gas emissions has been surging all across the globe. The increased use of vehicles has been causing air pollutions, and the levels now have risen alarmingly. Ascribed to this, governments of various countries are looking for ways to deal with the situation before it gets out of hands. This has led to the increasing adoption of electrical vehicles all over the world. 

Electric Bus Industry- P&S Intelligence

Up till now, the penetration of electric cars and electric two-wheelers has been high, however, these days the demand for electric buses is growing as well. According to a P&S Intelligence report, the global electric bus market is expected to reach 331,327 units by 2025, progressing at a 16.6% CAGR during the forecast period. Governments of various countries have become increasingly aware regarding the long-term benefits of electric buses. Moreover, countries are also focusing on cutting down their import bills of crude oil, which can be done by the adoption of electric vehicles. 

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Electric buses are of three types, namely hybrid electric bus, plug-in electric bus, and battery electric bus (BEB). Out of these, the demand for BEBs has been the highest up till now, and the situation is likely to be the same during the forecast period as well. The demand for these electric buses is growing due to the reduction in battery prices and the fact that they emit minimum levels of carbon. Lithium manganese cobalt oxide and lithium iron phosphate (LFP) are the major types of batteries that are utilized in electric buses.  

Series hybrid powertrain has a simpler configuration is smaller in size as compared to the other variants. The Asia-Pacific region created the highest demand for these vehicles in the past and is further expected to emerge as a major electric bus market during the forecast period. In the region, China is creating the highest demand for these vehicles across the globe. This trend is predicted to continue in the near future due to the concentration of companies in the country. 

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In conclusion, the surging environmental concerns and awareness regarding long term benefits of electric bus are driving the market. 

Top Players Covered in the Connected Motorcycle Market Research Report

According to the World Health Organization (WHO), over 1.35 million deaths are caused due to road accidents globally. About 93% of these deaths occur in low-and middle-income countries, even though they only possess around 60% of the world’s automobiles. Since a large number of bikers are involved in these accidents, bike manufacturers are being coerced to integrate advanced rider-assistance systems to improve their safety. In an attempt to minimize road accident cases, motorcycle manufacturers and road safety authorities are focusing on connected motorcycles, as these offer enhanced safety features.

Connected Motorcycle Market Research Report

Moreover, the surging penetration of sports and luxury bikes in emerging economies, such as India and China, and other nations of Asia-Pacific (APAC) and Latin America, Middle East, and Africa (LAMEA) will result in the progress of the connected motorcycle market during 2020–2030. The increasing adoption of these two-wheelers is due to the rising per capita income and soaring purchasing power of the people in these regions. Besides, the rising integration of artificial intelligence (AI) with the internet of things (IoT) will also amplify the use of connected motorcycles, as these technologies offer increased safety and better strategic management.

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According to P&S Intelligence, the APAC connected motorcycle market will witness the fastest growth in the coming years. This can be credited to the surging integration of connected features in the sports and luxury motorcycles being sold in the region. Moreover, the strong presence of motorcycle manufacturers in China and India, owing to the abundant raw materials, cheap labor, constant technological advancements, and relaxed government regulations, will boost the production of connected motorcycles. For instance, 10,020,000 motorcycles were sold in India during Financial Year 2020–2021, many with connected features.

Thus, the increasing adoption of sports and luxury bikes and growing concerns regarding road accidents and fatalities will boost the integration of connected features in motorcycles in the coming years.

Automotive Bearing Market Set to Exhibit Tremendous Growth in Coming Years

 “A major factor fuelling the demand for automotive bearings is the increasing focus of automobile manufacturers throughout the world on reducing the weight of the vehicles” as these bearings contribute significantly to the total weight of an automobile. Many automakers are increasingly incorporating advanced bearings in their vehicles, especially in sport utility vehicles (SUVs) and modern cars in order to reduce the weight of the vehicles, which will, in turn, increase their efficiency.

Automotive Bearing Market

Apart from being lighter in weight, these advanced bearings also have higher stiffness and durability, on account of the advanced lightweight substances that are used for manufacturing them. Automobile manufacturers are also incorporating improved forging techniques and low tolerance in the production processes of the bearings for reducing their weights. Besides these factors, the increasing sales of passenger cars, on account of the flourishing automotive industry, particularly in the developing nations such as India, Indonesia, Thailand, and China, is also contributing toward the burgeoning sales of automotive bearings across the world. 

Hence, with the growing adoption of lightweight bearings in vehicles and soaring sales of automobiles all over the world, the global automotive bearing market will grow, in valuation, from $33.4 billion to $53.3 billion from 2018 to 2025. “The market is also expected to advance at a CAGR of 6.9% from 2018 to 2025, as per the forecasts of the market research company, P&S Intelligence”. Roller bearings, plain bearings, and ball bearings are the most common types of bearings used in vehicles, out of which, the demand for ball bearings was observed to be the highest in the past.

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In terms of material used, the bearings are divided into different types namely solid polymer, metal polymer, and fiber-reinforced composite bearings. Out of these different variants, “the sales of the metal polymer bearings was found to be the highest all over the world over the last few years”. This is credited to the numerous advantages of these bearings over the other types such as their longer lifespans and cost-effectiveness and dimensionally stable and minimal stick-slip characteristics. 

Automotive Battery Market 2021 Set to Witness Huge Growth by 2030

With the growing number of people on earth, automotive production and sales continue to surge. Due to this, among their various components, the demand for batteries is booming too. Every vehicle, whether it runs on electricity or diesel or petrol (gasoline), requires a battery. Thus, the automotive battery market will have a rather prosperous future, says market research firm P&S Intelligence. Presently, since electric vehicles (EVs) are all the rage, the integration rate of batteries in them will shoot up.

Automotive Battery Market

Compared to an internal combustion engine (ICE)-based vehicle, an EV requires a much-larger and -powerful battery because this component is its main power plant (in case of battery electric vehicles [BEVs]). Moreover, apart from powering the motor, the battery supplies electricity to all the auxiliary components and systems, including lights, heating, ventilation, and air conditioning (HVAC) systems, advanced driver assistance systems (ADAS), navigation and entertainment units, and digital dashboards.

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Automotive batteries are generally available in two broad chemistries: lithium-ion (Li-ion) and sealed lead–acid (SLA). Of these, SLA batteries have been more popular till now because they have been available for ages and are cheap. But, their energy density isn’t as high, which becomes a problem for EVs, while their disposal also has environmental issues. Thus, with the growing demand for sustainable mobility, Li-ion batteries have begun gaining preference. 

With such advancements taking place in the electric mobility ecosystem, Asia-Pacific (APAC) has been the largest automotive battery market till now, and the situation will remain unchanged in the coming years. Driven by strong environmental concerns, strict emissions regulations, and supportive regulations, China has been the world’s largest EV and automotive battery manufacturer for ages, and it is also the one that buys them in the largest numbers. Similarly, India is home to the largest electric rickshaw fleet, which again creates a high demand for SLA and Li-ion batteries.

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Hence, with the booming EV sales, the demand for automotive batteries will keep rising.

Adoption of Electric-Three Wheelers in Asia-Pacific Growing due to Falling Battery Prices

The adoption of electric vehicles has increased all over the globe, including Asia-Pacific (APAC), because of the surging concerns regarding the surging air pollution levels. Conventional vehicles emit greenhouse gas emissions that cause pollution and environmental degradation, owing to which, the focus is now shifting towards electric vehicles. In APAC, the adoption of electric-three wheelers has been rising, which can be majorly attributed to the favorable government policies. Governments in the region are offering tax rebates and subsidies for encouraging the adoption of electric-three vehicles. 

Asia-Pacific Electric Three-Wheeler Market

For instance, the Indian government is offering subsidies ranging from $370 to $900, based on the OEM and the model, under the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles. Due to this, the APAC electric-three wheeler market is projected to witness considerable growth in the years to come. The demand for these vehicles in the region is also driven by the fact that they have low cost of ownership. 

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A number of countries in the APAC are region are developing, which mean that the spending power of people is not as high. Therefore, low-cost vehicles witness high adoption in these countries. The operational cost of a battery electric three-wheeler is about 6 times lower than that of a diesel/gasoline powered three-wheeler. Since battery-powered vehicles run on stored energy, which has lesser cost than gasoline, the overall maintenance and operation costs of electric three-wheeler are decreased. This is leading to the high demand for these vehicles. 

The APAC electric three-wheeler market is predicted to attain a revenue of $11,935.1 million by 2030, witnessing a 4.1% CAGR during the forecast period (2018–2023). On the basis of vehicle, the market is divided into load carrier and passenger carrier, between which, the passenger carrier division accounted for the major share of the market in the past, and is further expected to retain its position during the forecast period. This is because of the presence of large consumer base in the region. 

The load carrier division is expected to grow at a faster pace during the forecast period due to the low operational cost of electric load carrier vehicles and expanding e-commerce industry. When battery is taken into consideration, the market is categorized into lithium-ion (Li-ion) battery and sealed lead acid (SLA) battery. Between the two, the SLA category accounted for the major share of the APAC electric three-wheeler market in 2017. 

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However, the adoption of Li-ion batteries is expected to rise in the years to come, which is majorly because of the falling prices of these batteries. The Li-ion category is predicted to grow at a faster pace during the forecast period. Li-ion batteries have a number of benefits, such as light weight, higher energy density, lower environmental impact, and longer life span. It is owing to such factors that the demand for Li-ion batteries is expected to rise in the coming years. 

Hence, the market is growing due to the increasing government initiatives and low-cost of electric three-wheelers. 

Used Car Market in India: What are the Key Growth Factors?

The Indian used car market attained a value of $18.3 billion in 2020, and it is predicted to progress at a CAGR of 14.8% between 2021 and 2030. Furthermore, the market will generate a revenue of $70.8 billion by 2030. The factors driving the expansion of the market are the growing customer focus on premium automobiles that are available at affordable prices and the rising public preference for imported cars in the country.

In addition, the growing penetration of various organized players, original equipment manufacturers (OEMs), and large vehicle dealers such as OLX Autos by OLX Group, Quikr Cars by Quikr India Private Limited, and Cars24 Services Pvt. Ltd. in the industry is also fueling the expansion of the market. With the increasing involvement of these companies, the sales of second-hand vehicles will shoot up in the country in the coming years, primarily because of the higher reliability and trust offered by them. 

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Besides the aforementioned factors, the entry of several pre-owned luxury automobile dealers is also driving the progress of the Indian used car market. For example, Big Boy Toyz Pvt Ltd. (BBT) is a marketplace for imported and luxury vehicles in India. The organization buys a large number of vehicles from premium and luxury OEMs such as Toyota Motor Company (Lexus), General Motors (Cadillac), Tata Motors Limited (Land Rover and Jaguar), and BMW AG.

Depending on vehicle type, the market is classified into large, medium, and small categories. Out of these, the large category is predicted to lead the market in the coming years. This is ascribed to the mushrooming supply of good-quality and less-driven second-hand sports utility vehicles (SUVs) and the surging purchasing power of the people in the country. The market is also divided, on the basis of sales medium, into offline and online categories.

Between these two, the online category will register the faster growth in the forthcoming years. This is credited to the fact that the increasing digitalization has massively reduced the requirement for contacting the dealer initially. Nowadays, customers can easily and quickly get access to information through smartphones and computers. Hence, it is safe to say that the surging penetration of the internet and the higher ease of research and shopping provided by the online mode are fueling the market expansion. 

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The Indian used car market will exhibit the fastest growth in Delhi in the forthcoming years, as per the estimates of the market research firm, P&S Intelligence. This is attributed to the fact that the average new vehicle ownership time duration is decreasing rapidly in the state. Additionally, used vehicles are sold at highly affordable rates in Delhi. Moreover, many retailers usually perform minor repair works such as painting and denting and then sell the vehicles at high profit margins.  

Hence, it can be safely said that the market will register huge expansion in the coming years, primarily because of the rising demand for second-hand luxury and premium vehicles and the growing public preference for imported cars in the country. 

Automotive Battery Management System Market its Future Outlook and Trends

A battery management system (BMS) is an intrinsic component of an automobile as it maintains the battery in operational condition, predicts battery life, and protects the storage units from damage. The system performs these tasks by controlling the charging process, protecting and balancing the cells, storing and monitoring historical operational data, and determining the state of health (SOH), remaining useful life (RUL), and state of charge (SOC) of the battery. This system aims to optimize the run-time per discharge cycle and the number of life cycles that can be attained by the battery during its lifetime.

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This system is integrated into electric vehicles (EVs) and hybrid electric vehicles (HEVs) to improve the battery life and protect it from any damage. With the increasing environmental concerns, the sales of these vehicles have witnessed a significant spike in recent years. According to the International Energy Agency (IEA), more than 10.2 million EVs were in operation across the world in 2020. The surging adoption of these new-energy vehicles will thus support the automotive battery management system market growth in the coming years.

Automotive Battery Management System Market

Resultingly, according to P&S Intelligence, Asia-Pacific (APAC) dominates the automotive battery management system market, wherein China is the leading procurer of such solutions. The dominance of APAC can be credited to the favorable initiatives and policies supporting the production of EVs in China. Apart from China, Japan and India are expected to procure automotive BMSs in abundance. Among many initiatives, the increasing attempts by governments to end the production and sales of diesel- and gasoline-powered vehicles will support the adoption of such systems, by amplifying EV sales.

Thus, the surging EV sales on account of the escalating environmental concerns and strong government support will boost the adoption of automotive BMSs in the foreseeable future.

How are Government Initiatives Driving Indian Electric Rickshaw Motor and Controller Market?

The utilization of electric rickshaws in India has increased substantially over the past few years. This can be attributed to the lower operating costs of these vehicles as compared to auto rickshaws and the advantages they provide over cycle rickshaws. The number of electric rickshaws on roads was over 7 lakh in 2018, which was a rise from approximately 6 lakh vehicles in 2014. Furthermore, the government of the country is also providing incentives to the people on the purchase of electric rickshaws. 

India Electric Rickshaw Motor Market

The surging proliferation of electric rickshaws in the country can also be attributed to the increasing concerns regarding the degrading condition of the environment. The Indian government has implemented various environmental policies for curbing the growing air pollution levels, which is why, the demand for electric vehicles has increased the country. A number of organized players, such as Hero Electric Vehicles Pvt. Ltd. and Mahindra & Mahindra Ltd. are also entering the domain. 

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All these factors are leading to the growing of the Indian electric rickshaw motor and controller market. The rising average age of electric rickshaws is also creating high demand for motors and controllers for these vehicles in the country. Because of the entry of established players in the domain, consumers can now opt for quality vehicles, rather than substandard option that were offered by unorganized companies in the past. Due to this, the market is expected to advance at a significant pace in coming years. 

Geographically, Delhi has been leading the Indian electric rickshaw motor and controller market, which can be attributed to the surging sales of electric rickshaws in the state, which has been growing rapidly since 2013. In addition to this, owing to the rapidly rising pollution levels in the state, the Delhi Government announced a subsidy of $439.6 on the purchase of electric rickshaws in 2016, which has led to the increasing adoption of these vehicles. 

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Hence, the market is growing due to the surging adoption of electric rickshaws and increasing government initiatives in the country.  

How the Solar Powered Vehicles Market Has Witnessed Substantial Growth in Coming Years?

The 21st century is definitely the time of electric mobility, with countries around the world taking numerous initiatives to embrace it. Globally, purchase subsidies are being offered, taxes are being reduced, and even dedicated parking lanes are being offered to encourage people to go for electric vehicles (EVs). Now, while these efforts are bearing fruit, they are also creating a problem. In a world already starved of energy, the growing number of EVs is only going to make this problem worse, by further driving the demand for electricity.

Solar Powered Vehicles Market

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This creates another problem; still, the majority of the electricity, especially in developing countries, is produced from fossil fuels. In its latest report, the International Energy Agency (IEA) says, “The share of renewables in electricity generation is projected to increase to almost 30% in 2021.”, meaning that 70% of the energy will still be produced from natural gas, coal, and oil. According to P&S Intelligence, these apparent disadvantages of the growing EV stock around the world would be the key drivers for the solar powered vehicles market in the years to come.

This is because by integrating solar panels into the vehicles themselves, the need for procuring electricity from a secondary source is eliminated. Already, the photovoltaic (PV) technology has been the preferred way to generate renewable energy, with the IEA saying, “Renewables are set to provide more than half of the increase in global electricity supply in 2021.” This is because of the cost-efficiency and good understanding of the PV technology, which is why it is being extensively experimented upon for running automobiles.

Thus, one of the key prerequisites for the growth of the solar powered vehicles market would be a sharp drop in the price of PV panels. Thanks to the pandemic-induced lockdowns, production surge in China, and emergence of efficient monocrystalline PV panels in 2019, their prices have witnessed a sharp decline. As per an article published on Forbes in September 2020, the price of solar panels fell from $0.63 per Watt in the first quarter of 2016 to $0.21 per Watt by the first quarter of 2020.

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Thus, combined with the continuous research and development (R&D), the declining price of this technology could spell a fortune for solar-powered vehicles.

Acoustic Vehicle Alerting System Market to See Massive Growth by 2030

The rising deployment of electric vehicles (EVs) all over the world is one of the major factors responsible for the mushrooming global demand for acoustic vehicle alerting systems. According to various reports, the sales of electric cars grew by more than 2 million from 2018 to 2019. Furthermore, it was found that more than 7.1 million electric cars were sold around the world in 2019. By 2030, the total electric car fleet is predicted to rise above 130 million.

With the rising deployment of EVs, because of the increasing concerns being raised over the escalating pollution levels and the rising implementation of several favorable government regulations, the requirement for various vehicle components such as acoustic vehicle alerting systems (AVASs) is surging around the world. Besides these, the rapidly falling costs of the various components and parts used in EVs are also fueling the sales of AVASs across the world.

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For example, it is predicted that the cost of speakers, amplifiers, copper coils, and battery packs will reduce by more than 30% from 2019 to 2025. Furthermore, the cost of the permanent magnet, which is basically a ceramic ferrite material, that consists of strontium, a ceramic binder, and iron oxide, is predicted to fall by nearly 24% from 2019 to 2025. The falling costs of these materials are causing a sharp decline in the costs of AVASs. 

Because of the aforementioned factors, the sales of AVASs are rising around the world, which is, in turn, fueling the growth of the global acoustic vehicle alerting system market. According to the forecast of P&S Intelligence, a market research company based in India, the capacity of the market will grow at a CAGR of 11.9% between 2020 and 2030. Furthermore, the market is predicted to reach a valuation of $10,578.8 million by 2030. 

Acoustic vehicle alerting systems are installed in both four-wheelers and two-wheelers. Between the two, the usage of these systems is predicted to rise rapidly in four-wheelers in the coming years. The mushrooming requirement for electric cars in the North American and European countries is pushing up the sales of the acoustic vehicle alerting systems. Moreover, the implementation of regulatory compliance regarding the integration of AVASs in four-wheelers in various countries by 2021 is powering the demand for these systems.

Globally, the acoustic vehicle alerting system market is predicted to register huge expansion in the Asia-Pacific (APAC) region in the coming years. China is currently home to the world’s biggest electric vehicle industry, with sales of over 90% of worldwide electric two-wheeler sales (15 million units of motorbikes, scooters, and mopeds) and nearly 50% of the global sales of electric cars in 2019. Due to this reason, the demand for AVASs is shooting-up in China.

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Hence, it can be safely said that the sales of acoustic vehicle alerting systems will soar all over the world in the forthcoming years, mainly because of the rising deployment of electric vehicles and the increasing requirement for safety systems in vehicles, due to the soaring incidence of road accidents. 

Demand for Shared Mobility in India to Expand at a CAGR of Over 56.8% Through 2030

“By 2050, it is projected that India will have added 416 million urban dwellers.”, the United Nations (UN) had said in its 2018 World Urbanization Prospects report. With such an influx of people from rural areas into cities and the latter’s own increasing population, urban areas are becoming increasingly crowded. Cities like Mumbai, Delhi, and Bengaluru are already notorious for their alarming traffic congestion due to an increasing number of vehicles on the limited road area.

Shared Mobility in India

Apart from merely causing road congestion, automobiles have also made these cities some of the most polluted in the world. A CNN report published in February 2020 had said that India is home to 21 out of the 30 most-polluted cities in the world. As a result of the dual problems caused by automobiles, P&S Intelligence expects the Indian shared mobility market revenue to increase to $3,952.8 million by 2025 from $1,025.8 million in 2019, at an explosive 56.8% CAGR between 2020 and 2025.

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Of the numerous shared mobility services available in the country — two-wheeler sharing, ride hailing, ride sharing, car rental, bus/shuttle service, and carsharing — ride hailing services witness the highest demand. They are being heavily used for traveling from the home to the office/college and markets and visiting family members and acquaintances. Moreover, the entry of automakers into the ride hailing space has widened the access to these services. Another service that is gaining widespread popularity in the country is two-wheeler sharing, as it is convenient, fast, and cost-effective.

Seeing the rising adoption of both these services, shared mobility companies, especially ride hailing companies, are investing in scooter and motorcycle sharing companies and expanding their service portfolio. For instance, Uber, one of the largest ride hailing companies in the world and India, invested in Neutron Holdings Inc. (Lime), an electric scooter and bike sharing company, in 2018. With this move, the scooters offered by Lime can be directly booked on Uber’s app.

Currently, the Indian shared mobility market is most prosperous in the southern region of the country owing to the presence of numerous urban areas here, including Bengaluru, Chennai, and Hyderabad. All these cities have a huge working population, which uses shared mobility almost daily for the commute between the home and office. Similarly, North India also witnesses a high usage of these services, which are especially popular in the Delhi/National Capital region, which also includes Gurgaon, Noida, Ghaziabad, and Faridabad.

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Therefore, with the rising demand for cost-effective urban transit, along with the increasing awareness on saving the environment, more people in the country are expected to adopt these services and shun their private vehicles.

On-Demand Logistics Market its Future Outlook and Trends

These days, home delivery of almost every product and even some services is possible. While the trend of delivering things at one’s doorstep has been around since a long time, in today’s world, people are also demanding faster delivery services. With the emergence of platforms including Amazon, Flipkart, and several other applications for delivering a variety of products, such as food items, clothes, books, groceries, furniture, and home décor, people are able to choose whatever products they like and get the desired item, at most, within a week. In order to provide better customer service, online shopping platforms have started offering one-day delivery, where the product reaches buyers within a span of 24 hours.

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One-day delivery and/or same-day delivery can realistically be offered to local customers, with people living in urban areas being the major beneficiaries of such services. In the retail industry, the term, on-demand logistics, is used for referring to the ability of providing same-day or faster-than-usual delivery to local customers. Valued at $9.1 billion in 2019, the global on-demand logistics market is predicted to generate revenue of over $75.0 billion by 2030, advancing at a 21.1% CAGR during the forecast period (2020–2030).

On-Demand Logistics Market Report 2021

Furthermore, online logistics companies provide on-demand transportation solutions for individual customers as well. These companies cater to all the goods movement in full-load as well as partial-load capacities at reasonable prices and convenient time. Unlike the convenient brokers offering transportation services, on-demand logistics service providers create the overall cost structure and charge based on the distance to be traveled. These services use light commercial vehicles (LCV) and medium/heavy commercial vehicles (M/HCV) to deliver goods to customers.

While the demand for on-demand logistics services might have reached a slight saturation point in developed countries, the requirement is growing swiftly in developing nations. The surging adoption of smartphones and access to internet are leading to a rise in online activities, including the booking of on-demand logistics services. Moreover, people in emerging economies are spending more on luxurious products because of the increase in their disposable income. This is why the on-demand logistics market growth in Asia-Pacific (APAC) would be a lot faster than in North America and Europe.

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Hence, the concept of on-demand logistics is primarily gaining popularity due to the growth of the e-commerce industry.

Boom Expected in India Electric Scooter Market in Future

The Indian electric scooter and motorcycle market will experience a 57.9% CAGR during the forecast period (2020–2025), on account of the high government subsidies, favorable regulatory policies, stringent emission norms, and entry of leading two-wheeler manufacturers in the country. Moreover, the rising environmental concerns, dipping lithium-ion (Li-ion) battery prices, increasing advancements in Li-ion batteries, and planned set up of manufacturing units will help the market reach $grow from a sale of 152.0 thousand units in 2014to 1,080.5 thousand units by end of 2025.

India Electric Scooter Industry Scope

The regulatory environment and subsidies will go a long way in facilitating the Indian electric scooter and motorcycle market growth. The tax exemptions, financial incentives, and purchase rebate shave made these two-wheelers more viable for customers. Moreover, The government of India proposed a plan in 2019 to allow the sale of only electric two-wheelers from March 2025 onward. Moreover, the implementation of the Bharat Stage-VI (BSVI) emission norms from 1st April 2020 has boosted the production and sales of these electric vehicles (EVs).

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Additionally, the falling prices of Li-ion batteries will act as a catalyst for the Indian electric scooter and motorcycle market growth. At present, most of the EV manufacturers import Li-ion batteries from South Korea, China, and Japan due to the scarcity of raw materials and an underdeveloped value chain. The import of batteries leads to high costs, and domestic production will reduce them. Owing to these reasons, most of the Li-ion battery developers in India are focusing on the development of batteries and related systems within the country.

Geographically, Karnataka and Delhi are two of the fastest-growing states in the Indian electric two-wheelers market due to the surging government support, escalating environmental concerns, rising preference for clean and green vehicles, and soaring popularity of two-wheeler sharing services. Uttar Pradesh and Tamil Nadu are expected to hold comparatively larger shares in the market during the forecast period. The maximum demand for such EVs is generated from the tier 1 and tier 2 cities of these states.

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Thus, the presence of a conducive regulatory framework and availability of an array of scooter and motorcycle models will propel market growth in the coming years.

Boom Expected in Automotive Head-Up Display Market in Future

With more than 1.3 million people dying in vehicle crashes every year, as per the World Health Organization (WHO), the focus on making road transportation safer has increased massively in the recent past. What is disheartening is that most of these accidents are caused not by a failure of vehicle systems but by humans themselves. The key reasons because of which automobiles crash are over-speeding, not paying attention to the road while driving, talking on the phone while driving, reckless driving, and not keeping enough distance from the vehicle in front.

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As a result, the need for systems and software that can aid people while driving is rising, and many countries have mandated their adoption in automobiles. This is a key reason because of which P&S Intelligence expects the automotive head-up display market to witness rapid growth in the years to come. These systems are to become a key component of vehicles integrated with advanced driver-assistance systems, which offer tire pressure data, drowsiness monitoring, parking assist, adaptive cruise control, blind-spot detection, lane departure warning, adaptive front lighting, night vision, and driver monitoring functionalities.

Due to such efforts, “Electric cars, which accounted for 2.6% of global car sales and about 1% of global car stock in 2019, registered a 40% year-on-year increase.”, the International Energy Agency (IEA) says in its Global EV Outlook 2020 report. In PEVs, head-up displays aren’t just needed to display the ADAS data, but the data of the vehicle itself, including battery charge level, battery temperature, and charging status. Thus, with the International Renewable Energy Agency (IRENA) projecting the number of electric cars in operation to touch 200 million by 2030, the demand for head-up displays can be expected to skyrocket.

In the coming years, Asia-Pacific (APAC) will be the largest automotive head-up display market because of the rising automobile sales, including those of PEVs, in the region. In addition, China, South Korea, Japan, and India are among the top 10 vehicle producers owing to the cost-effectiveness of labor and raw materials and less-strict environmental regulations. These advantages have attracted many European and North American automakers to set up their plants in the region.

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Hence, with the rising production of automobiles and increasing focus on road safety, the demand for head-up displays will keep booming around the world.

Automotive Sensor Sales Set to Shoot-Up in China in Coming Years

The rising implementation of stringent government regulations and policies regarding greenhouse gas emissions and the enactment of policies that mandate the installation of safety systems in automobiles are causing a sharp surge in the demand for automotive sensors across the world. For example, many European countries have mandated the installation of driving assistance features and systems such as lane keeping assist systems, intelligent speed assistance systems, tire pressure monitoring, emergency stop signal, and advanced emergency braking in automobiles.

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The mushrooming adoption of advanced driver assistance system (ADAS) sensors in vehicles is massively boosting the sales of automotive sensors. Moreover, with the ballooning deployment of autonomous vehicles, the demand for automotive sensors is growing explosively. These vehicles are equipped with various advanced features such as natural language interface, speech recognition, driver monitoring, eye tracking, gesture recognition, and virtual resistance. Furthermore, the installation of ADAS that includes driver condition evaluation systems is fueling the sales of automotive sensors.

Besides the aforementioned factors, the rising adoption of electric vehicles is also propelling the sales of automotive sensors across the world. This is, in turn, driving the advancement of the global automotive sensors market. According to the forecast of P&S Intelligence, a market research company based in India, the valuation of the market will rise from $25,723.8 million in 2019 to $58,215.3 million by 2030. Moreover, the market is predicted to exhibit a CAGR of 7.4% between 2020 and 2030.

Pressure sensors, temperature sensors, oxygen sensors, position sensors, optical sensors, motion sensors, gas sensors, torque sensors, and level sensors are the most widely sold automotive sensors all over the world. Out of them, the sales of optical sensors are predicted to rise rapidly in the future years. Due to the increasing deployment of autonomous vehicles in several countries, the sales of automotive sensors will skyrocket around the world in the forthcoming years.

Body, chassis, powertrain, and advanced driver assistance systems (ADASs) are the major application areas of automotive sensors. Amongst these, the usage of automotive sensors is predicted to grow quickly in the ADASs in the future. This will be because of the fact that in various countries across the world, the government and regulatory authorities have made the installation of certain ADAS features mandatory in automobiles. Geographically, the sales of automotive sensors were the highest in Asia-Pacific (APAC) in the past.

In the coming years, the automotive sensors market is predicted to register the fastest growth in the Asia-Pacific region. In this region, the sales of these sensors are predicted to be the highest in China in the future years. This will be because of the increasing manufacturing capacity and the rapid implementation of advanced automotive technologies and innovations in vehicles. Additionally, the mushrooming deployment of electric vehicles in the country is propelling the sales of automotive sensors.

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Hence, it can be said with confidence that the demand for automotive sensors will rise enormously all over the world in the coming years, mainly because of the increasing deployment of autonomous and electric vehicles and the rising integration of ADAS in automobiles. 

Growth of the ADAS Market in United States

The need for increasing safety and security of vehicles, for the sake of both drivers and pedestrians, is increasing day by day all over the globe, including the U.S. As per the Association of Safe International Road Travel, over 38,000 people die in crashes every day on roadways in the U.S. In addition to this, about 4.4 million people are injured enough to need medical intervention. The country suffers from 50% more road crash deaths among all high-income countries, which further increases the cost of dealing with these situations. Because of these factors, the auto manufacturers are increasingly involved in coming up with advanced solutions that can increase the safety of vehicles. 

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One such solution is the integration of advanced driver assistance systems (ADAS) in cars. ADAS is utilized for describing the different safety features that are being integrated in vehicles to enhance driving experience by decreasing the severity and number of vehicle crashes. The system can warn the driver and further intervene for helping the driver to remain in control of the vehicle in case the possibility of an accident arises. In addition to this, if the accident cannot be avoided, ADAS can ensure that its severity is decreased. 

Attributed to such advantages, the U.S. ADAS market is expected to grow at a substantial rate in the near future. ADAS can be integrated in medium & heavy commercial vehicles, passenger cars, and light commercial vehicles. The system consists of a number of sensors, including laser sensor, ultrasonic senor, radar sensor, light detection and ranging sensor, and infrared sensor. Out of all these, the demand for radar sensors is predicted to be the highest in the coming years, which can be ascribed to the increasing applications in autonomous and connected vehicles and reducing cost of these sensors. 

ADAS includes a number of systems for making sure that the safety of vehicles is improved, such as adaptive front-lighting system, tire-pressure monitoring system, lane departure warning systems (LDWS), drowsiness monitoring system, adaptive cruise control system, parking assist system, and blind spot detection system. Out of all these, the demand for LDWS systems is projected to increase considerably in the years to come. The system is designed for alerting the driver when vehicle is leaving a detected lane and if the turn signal is not activated. This ensures that passengers and driver remain safe from crashes, such as striking a car in the adjacent lane. 

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In addition to this, introduction of innovative products by key companies in the domain and strict government regulations in the country are further expected to drive the demand for LDWS. Other than this, the U.S. ADAS market is predicted to grow in the coming years because of the emergence of multifunctional sensors in the market. The companies in the domain are further entering into partnerships and joint ventures for developing advanced systems. 

Hence, the demand for safety of roads is leading to the growing adoption of ADAS in the U.S.