Automotive & Transportation

Commercial satellite launch vehicle market to gain momentum over 2018-2024, APAC to emerge as a prominent revenue pocket

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The rapidly rising demand for navigation technology, weather monitoring, and remote sensing is certain to augment satellite launch vehicle market growth over the ensuing years. Indeed, authentic surveys vouch for the vast expanse of this industry across the globe. According to the 2017 State of the Satellite Industry Reports, satellite launch services industry revenues including all commercially-competed launches of 2016, increased by 2% to USD 5.51 billion after having experienced a drop by 9% between 2014 to 2015.The rising availability of disposable income amongst the urban population has prompted the usage of mobile phones and navigation devices. Escalating use of the internet, VoIP, online digital payment services and IoT are playing a key role in the enhancement of communication. Reportedly, in 2018, the number of internet users has risen by 7% y-o-y to 4.022 billion, social media users by 13% to 3.196 billion and mobile phone users up by 4% to 5.135 billion globally. Growing connectivity requirement through radio, TV, as well as telecommunication mediums will drive the deployment of communication satellites, thereby propelling the satellite launch vehicle market over 2018-2024.

 

U.S. SLV Market, By Launch Activity, 2017 & 2024, (Units)
U.S. SLV Market, By Launch Activity, 2017 & 2024, (Units)

Geosynchronous satellites contributed to over 65% of the overall satellite vehicle market share in 2017. Indeed close to 34 launch missions in the GEO orbits were recorded in 2017 due to their precise applications in observational data analysis and national security monitoring. The growing demand for geosynchronous satellites on account of their benefits will robustly impel the GEO orbit based satellite launch vehicle market share in the years ahead.

Speaking of commercial satellites, it is prudent to mention that satellite launch vehicle market size from commercial satellites will witness a CAGR of 3% over 2018-2024, owing to the increasing requirements of these satellites in end-use industries such as earth observation, mineral & energy exploration, electronics, military, and telecom. The surge in the number of launchers incorporated with built-in automated navigation systems that are highly beneficial in the event of communication failure will positively influence the satellite launch vehicle industry share from commercial launch activities.

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The India space launch vehicle market has also witnessed a rapid growth in the recent years. In 2017, the Indian Space Research Organization (ISRO) launched a record-breaking 104 Nanosatellites into the orbit all using a single rocket. The Indian space agency is known for building space launch vehicles with minimum labor cost and locally sourced equipment. Reportedly, ISRO’s commercial arm, Antrix has earned Rs 5,600 crore in the last three years, solely through the commercial activities including the launch of commercial satellites as well as remote sensing services. It is thus rather overt that India SLV market stands to gain considerable returns in the ensuing years. Driven by the efforts of economies such as India and China, APAC SLV industry trends are expected to undergo a dynamic change over 2018-2024.

Major players of SLV market include NASA, SpaceX, Blue Origin, Virgin Orbit, United Launch Alliance, Boeing Space and Communications, E Prime Aerospace, Bristol Spaceplanes, Mitsubishi Heavy Industries, Eurockot, Indian Space Research Organisation (ISRO), Stratolaunch Systems, Kelly Space & Technology, Lockheed Martin, Scaled Composites LLC and Northrop Grumman Corporation. Industry participants are currently forging mergers in a bid to reduce SLV development cost and increase the chances of achieving successful launch missions. In 2017 for example, NASA collaborated with SpaceX in a move that led to savings of millions of dollars.

Satellite Launch Vehicles (SLV) carry satellites and payloads from earth’s surface to space. Launching an SLV requires high precision, accuracy, power, efficiency and immaculate planning. Most of the SLVs are designed for one-time use however, upcoming advance SLV technologies introduced by companies like SpaceX would offer use of a single SLV multiple times eventually saving millions of dollars’ worth of capital. In essence, the efforts of leading contenders is likely to aid the growth of SLV industry, slated to hit $2.4 billion by 2024.

Author Name :Mateen Dalal

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Aircraft lightning protection market to procure massive returns from civil & military aviation sectors, global industry valuation to cross $3.5 billion by 2024

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Pegged at a modest $2.5 billion in 2017, global aircraft lightening protection market is projected to witness rapid growth over 2018-2024. Robust advancements in aircraft design coupled with the increasing need of conducting maintenance operations for aircraft fleet to comply with modern safety standards have been major factors driving the growth prospects of this industry. The last recorded fatal incident where a lightning strike caused a serious accident was in 1967, when a lightning bolt caused the airplane fuel tank to explode. Since then, numerous protection techniques have been developed and implemented with airplanes now going through a series of rigorous certification tests that verify safety measures. These safety certifications are not only perpetually fueling the aircraft lightning protection market but are also responsible for boosting the research and development efforts in the recent times.

U.S. Aircraft Lightning Protection Market, By Aircraft, 2017 & 2024, (USD Million)
U.S. Aircraft Lightning Protection Market, By Aircraft, 2017 & 2024, (USD Million)

In order to cut down the excess weight and fuel consumption, aircraft manufacturers have been incorporating composite materials in the structural parts of the airplanes. One of the prominent examples of this trend is the Juno project by Haydale which recently developed the world’s first Graphene Skinned Plane that provides significantly improved lightning-strike protection while cutting down on aircraft weight. Reportedly, the electrical conductivity of these composites has been improved significantly for lightning-strike protection by incorporating functionalized nanoparticles into epoxy resins. In addition to the development of such high-grade airplanes, numerous industry heavyweights such as Airbus have kickstarted their own research and development initiatives which will propel the aircraft lightning protection market trends in the years ahead.

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Expanding civil aviation industry to augment aircraft lightning protection market:

The civil aviation industry apportions a major chunk of the global aircraft lightning protection market – around $2 billion according to a 2017 estimate. The market size is projected to rapidly increase over the forecast period owing to growing world-trade and increase in passenger traffic. As per an IATA (International Air Transport Association) forecast, the air passenger traffic is set to reach 7.8 billion by 2036. Moreover, the association also estimates that around $17.5 billion worth of goods travel by air every day which translates to about 35% of the total world trade.

Apparently, these growing numbers in terms of air passenger traffic and world trade by air have consistently generated lucrative opportunities for aircraft manufacturers like Boeing and Airbus which have been manufacturing more aircrafts in the recent past. As per reliable estimates, the combined revenue of Boeing and Airbus stood at approximately $164.3 billion in 2016 which highlights the swift expansion of the civil aviation industry size. Needless to mention, the aircraft lightning protection market is certain to benefit from the rising prominence of the civil aviation sector over the forecast timeframe.

Military spending to play a considerable role in aircraft lightning protection industry expansion:

Of late, the military segment of aircraft lightning protection market has witnessed a robust expansion owing to increasing defense expenditure of major nations around the globe. According to reliable estimates, the top eight economies of the world allocated a combined $1188 billion to their defense budgets in 2017. Out of these nations, the U.S. alone is estimated to have spent around $610 billion. Apparently, these humongous numbers underscore the significance of military segment in the growth of aircraft lightning protection industry.

Moreover, the retrofit aircraft lightning protection market is projected to get a massive boost as aircraft manufacturers are being offered with sizeable overhaul and maintenance contracts by prominent military forces. For instance, the Marine Corps has already started offering contracts for portable lightning rods as it was recently discovered that the F-35B variant of U.S. Air Force’s flagship stealth fighter – F-35 Joint Strike Fighter is incapable of handling lightning strikes.

Essentially driven by growing world-trade, escalating air traffic passenger figures, and a drastic increase in defense budgets of various countries, the growth prospects of the aircraft lightening protection market appear to be highly promising. In fact, according to the research report put together by Global Market Insights, Inc., the remuneration scale of aircraft lightning protection market is projected to surpass $3.5 billion by 2024.

Author NameAkshay Kedari

Europe automotive pedestrian protection system market to accrue appreciable share by 2024, prominent efforts by regional contenders to augment the product demand

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Automotive pedestrian protection system market has emerged as one of the most lucrative business spheres of the automotive domain in the recent years. The increasing awareness among the regional governments and regulatory bodies regarding the importance of pedestrian safety has been stimulating the product demand. In 2016, more than 5,000 pedestrian fatalities occurred due to road accidents in the U.S. alone. In accordance, the Federal Highway Administration (FHWA) and National Highway Traffic Safety Administration (NHTSA) have taken initiatives to raise awareness among the masses about pedestrian safety, that are certain to augment the overall automotive pedestrian protection system industry size.

U.S. Automotive Pedestrian Protection System Market, By Product, 2017 & 2024 (USD Million)
U.S. Automotive Pedestrian Protection System Market, By Product, 2017 & 2024 (USD Million)

European companies like Bosch and Continental have been continuously conducting research and development activities to invent advanced technologies related to pedestrian protection systems. In the recent years, the regulatory framework governing pedestrian protection systems has become stricter, on the grounds of which Bosch encompasses a cost-effective and safe electronic system in its portfolio, incorporated with an active impact protection system. Given that the current challenges related to sensor equipment have been encouraging industry giants to come up with highly advanced sensing systems, Continental has optimized interfaces and improved quality standards with the development of an acceleration satellite assisted scalable sensor system. Incidentally, this newly developed pedestrian protection system can be efficiently improved with the integration of pressure-based technology.

Speaking along the same lines, telecommunications group, Vodafone and Continental have recently declared their innovation-driving partnership on June 2018. Their main objective of this partnership is to enhance smart vehicle connectivity and road safety across Germany. As per research, the traffic accident rate across Germany has been increasing tremendously with more than 7000 accidents occurring on the roads of Germany every single day. In this regard, the duo plan to develop mobile assisted digital shields for pedestrians and a high traffic warning system. The development of mobile-assisted computing systems will provide cost-effective benefits, as it would not be necessary for automakers to integrate expensive chipsets in the vehicle.

The presence of strong technology companies and vehicle manufacturers across European countries has thus been aiding the growth of Europe automotive pedestrian protection system industry. Incidentally, Europe accounted for more than 45% of the overall automotive pedestrian protection system market share in 2017, and is anticipated to dominate the industry over 2018-2024.

Currently, many automobile manufacturers have been focusing on developing intelligent, clean, safe, and convenient mobility solutions rather going in for high speed and more horsepower technologies. The shifting focus of the automakers toward the development of highly advanced safety features is likely to impel automotive pedestrian protection system industry share. Validating the aforementioned fact, the leading Indian car manufacturer, Maruti Suzuki has invested quite some capital to build an in-house pedestrian safety and crash testing facility near Delhi in compliance with stringent traffic safety and crash regulations. Considering that bad road conditions and the absence of high technology facilities in most of the vehicles lead to road accidents in India, prominent automakers have been working to develop advanced safety systems, propelling the regional automotive pedestrian protection system market trends.

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Taking into account the surging need for vehicle safety for reducing fatalities, the Indian government is also looking forward to implementing strict rules and regulations. Under the Bharat New Vehicle Safety Assessment Program, the government is planning to mandate the deployment of pedestrian protection safety facilities in the vehicles in the coming years. In addition, the government has given few more years to automakers to equip all their existing vehicle models with this facility. The regulatory initiatives taken by the Indian government will generate commendable business opportunities for the giants in automotive pedestrian protection system market over the ensuing years.

In line with the vehicle safety regulatory policies, automakers have now been manufacturing new vehicle models equipped with pedestrian protection systems. The increasing use of such safety features in newly developed vehicles is poised to propel the product demand over the years ahead. The deployment of strict regulatory standards for enhancing pedestrians’ safety also will help augment the revenue scale of automotive pedestrian protection system industry. For the record, by the end of 2024, overall automotive pedestrian protection system market will surpass a valuation of USD 3 billion.

Author NameSatarupa De

North America power sports market to amass appreciable proceeds by 2024, rising popularity of recreational sports to drive the regional demand

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The growing acclaim for luxury adventure sports, especially across the urbane locales, has led to the commercialization graph of power sports market depicting a robust rise. Advanced power sport vehicles like jet skis, ATVs, snowmobiles, side by side vehicles, and on and off-road motorbikes have come to occupy a prominent position in the sports and entertainment industry. As the popularity of recreational activities continues to soar, the demand for these vehicles will also depict an upsurge, gradually propelling global power sports industry size.

U.S. Power Sports Market, By Vehicle, 2017 & 2024, (Units)
U.S. Power Sports Market, By Vehicle, 2017 & 2024, (Units)

One of the most pivotal driving factors of power sports market is the expanding tourism industry. As per the World Travel & Tourism Council (WTTC), the travel and tourism industry accounted 10.4% of the worldwide GDP in 2017. The sector also accounted for 313 million jobs in the year – nearly 10% of the total employment in 2017. As the popularity of tourism exhibits an upsurge, the demand for luxury vehicles for recreational sports will depict a rise, gradually propelling power sports market size, that was pegged at USD 10.5 billion in 2017.

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Power sports market trends | Unveiling the prominence of North America across this vertical

North America, in 2017, emerged as the dominant region, accounting for 60% of the overall power sports market share. The credit for the same can be attributed to the presence of leading vehicle manufacturers in the region. Major power sports market players have been striving to incorporate ATVs and motorbikes with highly advanced features in order to deem them fit for recreational activities, spiking consumer interest and eventually increasing the demand for these vehicles in the regional power sports industry. One of the most proactive players in this regard is Harvey-Davidson, that has been launching specialty stores as well as dealerships to expand its consumer pool. Enlisted below are a couple of initiatives by the motorbike giant that are certain to impact the commercialization matrix of North America power sports market:

  • Merely a week ago, Harley-Davidson launched a slew of technology advancements in its product lines that would help to enhance the function, style, and performance of its 2019 Harley-Davidson Touring & Trike motorcycle lines.
  • At the beginning of August, Harley-Davidson partnered with rental company EagleRider, Inc. in a bid to activate over 120 dealerships as rental locations. Eventually, the partnership would add 700 Harley-Davidson dealerships as rental locations. Currently, consumers will be liable to tour popular destinations such as the Pacific Coast Highway and Route 66 through these participating dealerships present nationwide.
  • Back in July 2018, Harley-Davidson confirmed the launch of a 975 Streetfighter – a high-performance motorcycle that may give competition to models such as Suzuki GSX-S1000 and BMW S1000R. Powered by a 975cc liquid-cooled V-Twin that will be incorporated in future models, the Streetfighter will be launched in tandem with the Pan America adventure touring motorbike integrated with a 1250cc version of the Streetfighter’s engine in addition to a skid plate, upright windscreen, and an off-road suspension.

Apart from the contribution by leading industry players, North America power sports market trends are also likely to undergo a transformation on account of the initiatives taken by government agencies to enhance the consumer base of the region. Some of the leading government bodies involved in propelling the valuation of North America power sports market include the Federal Highway administration, the U.S. Forest Service, the Bureau of Land Management, the U.S. National Park Service, and the National Oceanic & Atmosphere Administration.

The ongoing technological advancements in the automotive sector have been majorly responsible for the growth of power sports market, given that automakers strive to provide vehicles with higher efficiency, increased power, modern designs, lighter weight and better performance. Furthermore, luxury vehicles are now equipped with advanced features like Bluetooth connectivity, mobile tracking facilities, GPS navigation systems, electric starter and striking user interface displays to effectively meet consumers expectations. The increasing purchasing power of consumers across the globe in tandem with the ability to purchase inventory online has provided many manufacturers with novel growth avenues, gradually augmenting the revenue scale of global power sports market in the years ahead.

Author NameMateen Dalal

U.S. recreational boating market to register significant gains from outboard boat sales over 2018-2024, rising popularity of water sports to augment the regional industry growth

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Luxury boating, being one of the most popular leisure activities in the United States, has led to the U.S. recreational boating market emerging as a highly profitable industry. In 2018, the National Marine Manufacturers Association (NMMA) announced boat sales in the U.S.to have reached a 10-year high, encouraging boat manufacturers to further expand their production capacity to meet the rising demand. NMMA data shows that unit sales of new powerboats reached 262,000 in 2017 increasing 5% when compared to unit sales in 2016.

U.S. Recreational Boating Market, By Product, 2017 & 2024, (Units)

U.S. Recreational Boating Market, By Product, 2017 & 2024, (Units)

Incidentally this is the highest level of boat sales registered in the U.S. in the past 10 years – a fact that provided a boost to the U.S. recreational boating industry. As per estimates, total marine expenditure in 2017 amounted to $39 billion which included spending on not only new boats, but trailers, engines, services and accessories. Boat manufacturers also responded to the demand with the building of new plants and expanding production capacity. In 2017 the U.S. recreational boating market size was valued at $20.5 billion and is expected to depict a commendable upsurge in the years ahead.

The Bureau of Economic Analysis boasts of valid data to support the growth of the U.S. manufacturing industry. Estimates by the organization claim that U.S. manufacturing gross output increased to $6.228 trillion in the fourth quarter of 2017. The strong economy of the country is indeed bolstering the boating expenditure and new boat sales in the country as manufacturer optimism and capital spending continues to hit a record high. The growth trajectory of the U.S. recreational boating market is expected to be rather exponential in the ensuing years, as new products ranging from small fishing boats to large luxury yachts make an entry into this business sphere.

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Statistics indicate that over 87 million adults participate in recreational boating in the U.S. and engage in travelling by boat, sports activities or fishing. When the country was in the grip of a major economic crisis in the last decade, the U.S. recreational boating industry initially took a hard hit. However, with the return of financial stability, the U.S. recreational boating market has witnessed renewed vigor with 12 million boats being registered and documented in 2017 across the country. The NMMA listed Florida as the state leading the number of registrations in 2017 followed by Minnesota, Michigan, California and Wisconsin with significant growth in the registration of recreational boats in the states of Oregon, Ohio and California. Unsurprisingly the Great Lakes region also accounted for a major portion of the registrations with most boats per capita.

Incidentally, outboard boats are the most preferred boats and are anticipated to account for 70% of the U.S. recreational boating market share by 2024, since they are easy to maintain, have maximum cabin space and increased fuel efficiency. Surveys depict that most affluent Americans own such leisure boats – around 10.3% of U.S. households with an income over $200,000 reported owning a boat in 2015. Personal water boats are popular among water sports enthusiasts in the U.S. and during a survey of campers in 2015, it was found that 22% indicated canoeing or kayaking to be their favorite recreation activity and a further 13% selected either motor boating, jet skiing or water sports. Easier maneuverability, compact footprint, and easier parking & towing are expected to augment the personal water boat segment of the U.S. recreational boating market. As per estimates, PWC will account for 11% of the U.S. recreational boating market share by 2024.

The U.S. recreational boating market took a sharp decline when the country went into a recession in 2008 with consumers having less disposable income to be spent on leisure activities. More recently the Trump administration’s implementation of tariffs has put a dampener on the U.S. recreational boating industry, though between 2012 and 2016, the market experienced a gradual upsurge. U.S. recreational boating market which supports approximately 650,000 jobs and 35,000 businesses nationwide, is touted to be one of the stalwarts of the American manufacturing sector. With the government of the country emphasizing on the importance of manufacturing and export, the U.S. recreational boating market is expected to register a CAGR of 4.5% over 2018-2024.

Author NameParoma Bhattacharya

Aerospace landing gear market to derive commendable proceeds via commercial aircraft segment over 2018-2024, surging MRO services and collaborations to signify industry expansion

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Over the recent years, the global aerospace landing gear market share has observed an exponential growth owing to a significant uptick in air passenger traffic and the consequent increase in the demand for lightweight aircrafts. Owing to the criticality of these subsystems, which support aircraft weight during landing and ground operations, the commercial airlines have focused on incorporating high-grade landing gears in the recent times. Moreover, the swift escalation in the number of commercial aircraft production across the world has emerged as one of the foremost factors to have contributed toward rapid growth of the aerospace landing gear industry.

U.S. Aerospace Landing Gear Market, By Aircrafts, 2017 & 2024, (Units)
U.S. Aerospace Landing Gear Market, By Aircrafts, 2017 & 2024, (Units)

Elaborating further, the U.S. based Boeing for instance, delivered an astonishing 763 commercial airplanes in the year 2017. Reportedly, the aerospace behemoth surpassed its previous delivery record set in 2015. In this context, it would be prudent to mention that 2017 was the seventh consecutive year that registered a decent increase in the delivery of commercial aircrafts by foremost manufacturers.

Apparently, the number of commercial aircraft deliveries stood at 1740 in 2017 which amounted to a y-o-y increase of about 1.5 percent. This remarkable surge in the total fleet of the commercial airplanes, which was estimated to be around 31,000 worldwide in the same year, has been instrumental in establishing the prominence of commercial aircrafts in the aerospace landing gear market. In fact, the commercial aircraft space is projected to be the major growth segment in the overall aerospace landing gear industry in the upcoming years.

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Concurrently, it has been observed that there has been a gradual uptick in the number of collaborations being formed between firms operating in MRO (maintenance, repair and operations) industry and various commercial microsatellites & orbital transportation service providers. Needless to mention, these collaborations have invariably boosted the commercialization scale of the overall aerospace landing gear market in the recent times. The U.S. headquartered Triumph Group for instance, has recently teamed up with a systems integrator specializing in microsatellite services, Sierra Nevada Corporation (SNC), to provide landing gear system for the Dream Chaser spacecraft.

In this regard, the agreement mentions that Triumph Group’s Washington based Integrated Systems business unit will work together with SNC to supply the main and nose landing gear to a lifting-body vehicle, the Dream Chaser. Reportedly, this spacecraft would be utilized to support NASA’s Commercial Resupply Services 2 project that is slated to resupply the International Space Station. The partnership is being increasingly termed as quite remarkable in the aerospace landing gear industry given that the contract further includes the supply of integrated actuation solutions for the landing gear and door systems which would be developed by both the firms.

Speaking in the similar context, numerous dominant commercial and defense aircraft manufacturers around the globe have continued assisting airline operators to leverage exchange offerings of landing gears and overhaul of performing equipment as well. Powered with a robust global network of repair service centers, these aircraft manufacturers are well-positioned to lower maintenance time and provide reliable landing gear repair services to major airlines. To cite an instance of the same, Boeing had declared the launch of its new landing gear exchange programs in 2014 for Air Canada’s 777-200LE (Longer Range) and 777-300ER (Extended Range) airframes.

As per the contract, the American aerospace behemoth had agreed to provide certified and fully overhauled landing gear shipsets for a total of 23 aircrafts belonging to the largest domestic and international airline in Canada. Apparently, such cost-effective offerings by prominent aircraft manufacturers have optimistically influenced and proliferated the aerospace landing gear industry space over the past few years.

The prominent aerospace regulating authorities such as Federal Aviation Authority and Civil Aviation Safety Authority have laid out strict guidelines to deploy advanced technologies including Radio-Frequency Identification and wireless sensor network to enhance operational safety of airplanes. Furthermore, the increasing adoption of advanced landing gear systems across major airlines would impel product penetration, cite analysts. Driven by a rapid increase in commercial aircraft deliveries coupled with the burgeoning air passenger traffic, the aerospace landing gear market is slated to grow at an exceptional pace in the years ahead. In fact, as per a research report collated by Global Market Insights, Inc., the revenue portfolio of aerospace landing gear industry is estimated to surpass USD 19 billion by 2024.

Author NameSaif Ali Bepari

Authorized car service center market to witness rapid progressions in India, global industry valuation to exceed USD 247 billion by 2024

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The growth prospect of authorized car service center market seems to be more pronounced in recent times, given the increasing passenger vehicle density on road and their subsequent maintenance requirement. According to estimates, nearly 945 million passenger vehicles and 330 million commercial cars were operational globally in 2015. This, by extension also outline the humongous revenue generated by the car service business (maintenance and repair) in recent years. Since licensed automobile workshops provide improved service support at competitive rates with enhanced customer experience, authorized car service center industry is furthermore gaining a substantial traction in the automotive fraternity. Testament of the fact is the 200-billion-dollar valuation pegged by the market in 2017. Incidentally, this has also prompted automotive market players to expand their service center networks, in a bid to leverage the potential of authorized car service center market.

U.S. Authorized Car Service Center Market, By Autobody Shop, 2017 & 2024, (USD Million)

U.S. Authorized Car Service Center Market, By Autobody Shop, 2017 & 2024, (USD Million)

Maruti Suzuki, India’s biggest car manufacturer, has recently made its way to the headlines with its plan of establishing 5000 service centers by 2020. As per the reports, the company is planning to expand its service networks by almost 56% by 2020. For the records, out of these 5000 service centers, 3000 workshops would be operating under the dealership.

For the uninitiated, the carmaker presently boasts of 2000 dealerships spread across 1667 cities in addition to 3200 workshops in India. Maruti Suzuki’s portfolio also include 250 additional premium dealerships dubbed as Nexa outlets. If reports are to be relied on, in the coming three years, the company is planning to open 1800 service centers and 1000 sales network, which as per estimates, is deemed to be more than the present combined sales and service networks of three leading automakers in India- Fiat, Nissan, and Renault. Maruti Suzuki’s initiative not just clearly depicts the fierce competitive scenario in authorized car service center industry, but also the increasing ratio of multi brand service centers in tier-II and tier III cities.

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The competitive spectrum of authorized car service center market comprises some renowned brands including Carnation Auto, Castrol, 3M, Mobil1, MyTVS, and Carz Care. Strategic collaborations and joint ventures are two of the tried-and tested tactics adopted by these players to sustain in the competitive landscape. Nissan’s strategic tie-up with India’s largest car service networks, MyTVS in 2016 is an apt precedence validating the same. Through this venture Nissan opened eight NASP (Nissan Authorized Service Points) in Tamil Nadu to improve car service access for Nissan and Datsun customers. The deal, in all likelihood, strengthened Nissan’s stance in India authorized car service center industry.  In fact, with India as a major nerve center, APAC authorized car service center market is forecast to witness 4% CAGR over 2018-2024.

It is prudent to mention that a strict regulatory framework toward carbon emission abatement across emerging economies has left an inexorable impact on authorized car service center market outlook. Recently, the Maharashtra Pollution Control Board has issued a notice against a dealership and car service center for violating the environmental norms. Following a complaint with regards to unscientific disposal of waste water, the board had officially conducted an on-spot inspection and found that the ETP (effluent treatment plant) of the workshop was not operational. These kind of pitfalls in unlicensed service centers have in a way provided a lucrative growth avenue to authorized car service center market.  Presence of advanced machineries in tandem with skilled technicians has further stimulated the market outlook. Primarily grounding on three major rationales- appropriate business model, cost-effective services, and decent attitude of the service advisors, authorized car service center market is slated to witness a slew of opportunities in the coming years. In terms of commercialization, the fraternity is forecast to surpass USD 247 billion by 2024.

Author NameSatarupa De