Automotive & Transportation
A succinct gist of recreational boating market with respect to the latest product development trends: ongoing sustainability furor to have a profitable impact on the industry outlook over 2017-2024
Outdoor water activities have lately emerged as a popular means of recreation, generating lucrative growth prospects for recreational boating market. Tourists and locals residing alongside water bodies have long since been involved in water-based recreational activities such as fishing, camping, boating, etc. However, the prevalence of these activities has inherently increased in recent times, primarily due to the rising disposable incomes of the middle class and the subsequently changing consumer lifestyles. In consequence, this has created a plethora of growth opportunities for recreational boating industry players.
U.S. Recreational Boating Market, By Product, 2016 & 2024, (Units)
Another vivid fact that will emerge as an expansion opportunity for these companies is that the rise in the number of recreational activities is directly proportional to an increase in the rate of boating accidents. On these grounds, a stringent regulatory framework has been compiled by authorized bodies to reduce the number of boating accidents and ensure consumer safety. Being a strongly customer-driven business space, companies often invest heavily in research and development activities to develop advanced recreational boats. The launch of luxurious and efficient next generation boats is thus likely to augment the commercialization scale of recreational boating industry.
Citing an instance of the aforementioned fact, one of the leading boat manufacturers, Crestliner has recently launched its new product in Sprint Series. Introduced as a basic version of the pontoon, this product has been specifically designed for novice boaters and individuals looking forward to experiencing on-water versatility at an attractive rate. Considering that quite a proportion of consumers depict an interest in pontoons for enjoying on-water activities ranging from fishing to cruising, other companies in recreational boating industry have also been attempting to launch novel pontoon designs. What’s more, the trend of upgrading the luxury factor in these vessels has been catching up throughout the vertical. It has been observed that players in recreational boating industry are enhancing layouts of boats including seating systems, storage compartments, flooring systems, audio packages, and other personalized facilities.
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In addition to upgrading the aesthetic features, boat manufacturers are also focusing on attaining higher performance by developing advanced versions of the engine, to make sure consumers enjoy a highly efficient, fast-paced, and uninterrupted boating experience. This ongoing trend depicts a pattern in boating design enhancement – right from improving hardware to aesthetics to the driving experience, which is certain to propel recreational boating market share.
Apart from individually working on product development and upgradation, companies across this vertical have been working on implementing tried-and-tested methodologies to consolidate their stance. Signing strategic collaborations with technology providers for coming up with intuitive and efficient facilities seems to have emerged as the latest norm in recreational boating market. For instance, a year before, Crestliner Boats and Brunswick Boat Group’s freshwater brands jointly partnered with MarineTech. Through this deal, Crestliner incorporated a hydraulic power steering system and hybrid cable in its aluminum boats.
One of the most pivotal trends that has been observed in this business lately is the increasing popularity of environment friendly boats. The rise in consciousness among the seafarers about the harmful effects of GHG emissions on the marine ecosystem has led to the adoption of green energy technology. Regional governments have also been playing their part in encouraging seafarers to implement clean technologies in boat manufacturing, by providing sufficient subsidies. What’s more, the research community, in tandem with green technology companies has also been researching novel methods to revolutionize commercial recreational boating with eco-friendly innovations. Australia’s Ocius Ocean Technology has set quite a benchmark in this regard – the company had been involved in the invention of the Solar Sailor that can harness solar and wind power in a single device to produce a speed up to 44 knots.
The emergence of highly upgraded products reflects the deep commitment of participants in recreational boating market toward the improvisation of existing boating infrastructure. These companies have also been influenced by the shifting trends toward the adoption of sustainable technologies, that has had an impact on product design and development. In recent times, with customers ruling the roost, the development of core consumer-centric products has been making robust inroads in this vertical. Powered by a high-income user base, in conjunction with earnest companies striving to innovate unique products, recreational boating market size has been forecast to surpass a revenue collection of USD 230 billion by 2024.
Author Name : Sunil Hebbalkar
Wired vehicle tracking market to gain hefty proceeds over 2017-2024, favorable government initiatives to drive the industry landscape
Vehicle tracking market, in the recent years, has been traversing along a rather lucrative growth path mainly on the cusp of the technological advancements that have taken the automotive industry by storm. The rising need to monitor vehicle movement and the growing awareness regarding the benefits of vehicle tracking in terms of safety are regarded as the key drivers impelling vehicle tracking industry growth. According to reports, this business sphere has been drawing tremendous remuneration with a growing number of companies investing heavily in vehicle tracking systems to better position their business operations.
U.S. Vehicle Tracking Market, By Vehicle, 2016 & 2024, (USD Million)
Speaking of the commercialization potential of this business space, analysts deem that having drawn close to USD 6 billion in terms of revenue in 2016, global vehicle tracking market, quite undeniably is set to be a profitable growth ground for potential stakeholders. It has also been observed that in tandem with the core industry participants, the automakers and governmental bodies have been joining forces to develop products and simultaneously commence promotional campaigning programs to encourage the masses to adopt vehicle tracking systems.
A very recent instance validating the authenticity of the aforementioned statement is that of the Roads and Transport Authority of Dubai mandating the installation of monitoring devices in all the brand new heavy vehicles that will be entering Dubai roads from the month of August. Reports reveal that the move comes on the heels of RTA’s expansion of its vehicle tracking program that will also include more heavy vehicles weighing 2.5 tons and above. The program further requires all the heavy 20-year-old trucks to have a vehicle tracking device installed to monitor over speeding, traffic accidents, driving in prohibited timing or places, sudden braking, reckless driving and over accelerating.
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Another significant instance depicting the involvement of government bodies in this business space is that of the Maharashtra local government body and Regional Transport Office (RTO) mandating the installation of intelligent transport systems that comprise panic buttons & a vehicle tracking system. According to reliable reports, more than 3.70 lakh existing vehicles will have to install these systems in the state – this would prove highly lucrative for the regional vehicle tracking industry.
It is prudent to mention that the demand for numerous vehicle types has a pivotal role to play in augmenting the revenue graph of vehicle tracking market. Say for instance, heavy-commercial vehicles have lately been gaining massive traction in this business sphere. As per report in fact, vehicle tracking market share from the heavy-commercial vehicles is likely to register a y-o-y growth of 12% over 2017-2024. This robust growth can be credited to the growing demand for passenger & goods transportation coupled with rising consumer interest in tracking fleet performance.
Further elaborating on the product trends, it has been observed that wired vehicle tracking systems are gaining considerable preference over their wireless counterparts. Analysts deem that the major factor contributing to the growth of wired vehicle tracking market is the cost effectiveness of the product over the wireless units. Moreover, perpetual innovations such as enhanced satellite view and mobile tracking have also been primarily fueling the product adoption, leading to vehicle tracking industry gaining renewed traction.
Connected car trends to propel multi-million-dollar opportunities in vehicle tracking market
With driverless and connected cars garnering mass momentum, vehicle tracking market is certain to amass extensive remuneration in the years to come, given that connected technologies are set to transform the way one commutes, interacts, and communicates with automobiles. Authentic sources in fact claim that the number of cars that will be equipped with embedded connectivity will rise by a whopping 300% over the next five years. In essence, the growing importance of security features and other advanced technologies that help reduce road accidents and fatalities are indeed likely to stimulate vehicle tracking industry share. It is estimated that by the end of 2024, the global vehicle tracking market will surpass USD 11 billion with more and more organizations beginning to dabble in this technology, taking advantage of the changing fleet management landscape.
It is prudent to mention that despite the significant initiatives, there has been an ongoing debate regarding the installation of tracking systems. Nonetheless, vehicle tracking market has been expected to gain exceptional proceeds in the ensuing years, specifically due the contribution of regional governments. That apart, the escalating deployment of the product speaks for itself, and is deemed to push this business space to exceptional heights. As per estimates, vehicle tracking market size will increase at a CAGR of 7% over 2017-2024.
Author Name : Ojaswita Kutepatil
Unveiling automotive turbocharger market trends in terms of the initiatives undertaken by leading industry behemoths: PCVs to gain mainstream popularity over 2017-2024
The progressive shift toward a greener, environment-friendly future has been a major driving force for automotive turbocharger market. In an era riddled with the fear of carbon emissions destroying the planet, automakers have been facing several challenges to optimize vehicle efficacy in the best means possible. Consequently, most of the automakers have now been working on bringing about suitable design and operational changes in turbochargers – the highly efficient components that play a major role in downsizing engine emissions. Including the likes of Honeywell and Mitsubishi, renowned companies have thus basically been targeting 2 essential factors – fuel efficiency and emission reduction to bring about a change in turbocharger production, contributing toward automotive turbocharger industry growth.
U.S. Automotive Turbocharger Market, By System, 2016 & 2024, (Thousand Units)
A quick insight into the developments brought about by automotive turbocharger market companies
The incredible advantages of these induction devices have ensured an escalating demand for renewed turbocharging technologies. In consequence, pivotal automotive turbocharger market players have been working toward extending their regional reach by constructing new production facilities across various geographies. An instance validating the same is that of BorgWarner having opened its new turbocharger technology production plant in Thailand recently. Through this initiative, BorgWarner aims to provide clean and efficient turbocharging solutions for hybrid vehicles and EVs across the Asian turf. BorgWarner’s plan is also expected to encourage numerous other automakers to expand their already established production facilities in Thailand, that would further help consolidate Asia automotive turbocharger industry.
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Incidentally, this hasn’t been BorgWarner’s first brush with turbocharger technology. In 2017, the company had successfully installed its advanced turbocharging technology into Jaguar Land Rover. The turbocharging system was expected to help Jaguar Land Rover achieve its engine performance target and fuel efficiency from its new SUV models. Of late, numerous light and passenger commercial vehicle manufacturers are also deploying advanced turbocharging technologies for improved fuel efficiency, suitably impelling PCV sales across major geographies. Indeed, this would help PCVs emerge as a viable growth avenue for automotive turbocharger market in the future. As per estimates, by the end of 2024, passenger car vehicles are expected to account for over 60% of automotive turbocharger industry share.
Honeywell has been another lucrative player in automotive turbocharger market that has helped strengthen the competitive spectrum of this business space. The company, a couple of years ago, displayed some of its turbocharger technologies for commercial vehicles at the IAA Hannover 2016. Since then, the company has worked consistently to bring forth advanced turbo technologies for on and off-highway powertrains. The firm has also developed a supremely high-efficiency serial two-stage system to ensure optimum performance in heavy-duty long haul trucks that require to be characterized by increased fuel efficiency and lowered CO2 emissions.
Bringing about innovative product developments is expected to remain one of the prime growth strategies of automotive turbocharger market contenders. The principal aim here is to develop highly advanced products, the design of which would contribute toward maximum engine downsizing. Electric turbochargers for instance, one of the latest trends in automotive turbocharger market, has been found to eliminate turbo lag, which leads to an increase in fuel efficiency. That said, there is no dearth of R&D programs in this business space, that would help alter conventional turbocharger designs as required and further contribute toward transforming automotive turbocharger industry trends.
In the years to come, turbochargers are expected to gain extensive traction in the global automotive space, owing to their substantially high efficiency and their contribution toward environmental safety. Of late, products such as variable geometry turbochargers (VGT) have also gained mass momentum, exceeding their counterparts, due to their cost-effectiveness and technical benefits. Driven by their massive demand on account of the increasing need for a greener environment, automotive turbocharger industry, supported by a strict regulatory framework, will surpass a revenue collection of USD 24 billion by 2024.
Author Name : Sunil Hebbalkar
APAC automotive brake caliper market to amass hefty proceeds by 2024, increasing production of automobiles to drive the regional industry growth
Powered by the rapidly expanding automotive industry across myriad geographies, automotive brake caliper market has indeed gained tremendous popularity in recent times. The automotive sector is also rife with a plethora of highly unique innovations that has undeniably had an impact on this business sphere. Indeed, given the pivotal significance of braking systems, technological advancements form the crux of automotive brake caliper industry. Recently for example, Brembo unveiled an aesthetically revolutionary brake caliper at the 2018 NY Auto Show. Apparently, this product helped achieve substantial weight savings – around 400 g per wheel. Brembo’s product launch is indicative of the fact that automotive brake caliper market, despite being a mature business sphere, will continue to be characterized by highly innovative solutions that would optimize performance and improve aesthetics.
U.S. Automotive Brake Caliper Market, By Vehicle, 2016 & 2024, (Million Units)
The automotive industry has registered an extremely appreciable CAGR in the Asia Pacific region since the last decade or so. This growth can be essentially credited to the rise of the middle-class populace with increasing disposable incomes and a growing inclination toward leading a more comfortable lifestyle. Due to the presence of affordable and efficient production facilities and increased rate of automobile production, Asia Pacific automotive brake caliper market is poised to grow by 3% over 2017-2024. China, India, Japan, and South Korea are projected to be the major contributors toward this regional market, powered by the enhanced automotive manufacturing technologies now prevalent across these economies.
Speaking along similar lines, the increasing demand for automobiles among the middle-class consumers has led to a significant requirement of passenger carrying vehicles. For instance, in 2017 alone, 73.46 million units of PCVs were sold – a marked increase of 1.08 million units. Driven by the increased consumer spending and the subsequent rise in vehicle production, automotive brake caliper market size from PCVs is expected to increase by 2.5% over 2017-2024. While PCVs take the cake in terms of popularity, it is prudent to mention that two-wheelers are also being increasingly preferred lately, especially in the emerging economies. Two wheelers offer a means of cost effective transportation and are the preferred choice not only in congested cities but also in remote locations. This would perpetually augment automotive brake caliper industry outlook in the ensuing years.
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Stringent safety and environmental policies have encouraged technological advancements in the automotive brake caliper market of late. For instance, the French auto manufacturer Bugatti has brought forth a unique innovation in automotive brake caliper industry with the use of 3D printing to print titanium brake calipers. Incidentally, 3D printing of brake calipers helps in reducing the overall weight of the vehicle while maintaining torsional stiffness – a highly sought-after parameter in the automotive industry today. Traditional aluminum alloy brake calipers on Bugatti vehicles weigh 4.9 kg each, however, 3D printing of brake calipers makes each caliper weigh just 2.9 kg, which goes a long way in reducing overall vehicle weight and meeting environmental regulations. Though 3D printing of brake calipers has not yet become a mainstream procedure owing to the time-consuming nature of the process, the concept has gained sufficient traction. Other methodologies for the reduction of caliper mass, improved styling and performance maintenance are also being researched currently to reduce particulates and carbon emission in the atmosphere.
The emergence of electric vehicles and hybrids is expected to add a new vertical to automotive brake caliper industry, as these vehicles will invariably use a whole new braking system that has little resemblance with the conventional braking system. With the introduction of the Tesla Model 3, electric passenger cars are poised to become the dominant trend for the future. It is rather overt that such cars are being designed to have only one paddle for moving or stopping the vehicle. While the brake system will not be made entirely obsolete, it is certain to undergo some highly innovative changes, that would certainly have an influence on automotive brake caliper market outlook.
Research & development programs are rampant across the automotive industry of late and are likely to majorly transform automotive brake caliper market trends. With the robust growth of automated technologies and the increasing requirement for better mobility, automakers are leaving no stone unturned to bring forth newer and enhanced brake systems. In consequence, this would have a commendable impact on automotive brake caliper market size, anticipated to cross $21 billion by 2024.
Author Name : Paroma Bhattacharya
North America aircraft thrust reverser market to attain commendable proceeds over 2017-2024, technologically advanced product designs to impel the regional industry
As the frequency of air travel has been increasing in the recent years, aircraft thrust reverser market has gained robust traction in the transportation space. That to say, despite rising fares and climbing fuel costs, air travel has now become a conceivable mode of transportation. Not to mention, with rising disposable incomes and changing consumer lifestyles, an increasing percentage of people choose to spend vacations at exotic locations, further stimulating the aviation industry trends. In consequence, this has had a commendable impact on the commercialization scale of aircraft thrust reverser market, as these products are critically important components in an aircraft for ensuring efficient deceleration and landing. Since technology plays a major role in improving the design and manufacturing style of these components, aircraft manufacturers have been collaborating with leading players of aircraft thrust reverser industry in order to manufacture highly efficient and advanced reversers. In a recent instance, one of the leading aircraft thrust reverser market firms, Spirit AeroSystems celebrated its delivery of 10,000 fuselage, which includes thrust reversers, to Boeing 737.
U.S. Aircraft Thrust Reverser Market, By Product, 2016 & 2024, (Units)
The last couple of decades have witnessed a major evolution in aircraft designs. Modern aircrafts are noted to encompass greater takeoff gross weight and require more runway length for takeoff and landing. To cope with ever increasing airport flow and emergency situations, an increase in demand for reliable deceleration systems has been observed, propelling aircraft thrust reverser market growth. It is also prudent to mention that thrust reverser designs significantly influence engine nacelle weight and wing performance. As these parameters decide the overall operation efficiency and maintenance cost of the overall aircraft, efficient reverser designs contribute a great deal toward aircraft thrust reverser market.
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The material used for the construction of thrust reversers is as important as the design and working mechanism. Research suggests that the weight of thrust reversers account for 30% of the whole nacelle weight. Air leakage and pressure loss caused by thrust reversers can also lead to 1% increase in the flight’s fuel consumption. The chief advantage of using thrust reversers for speed deceleration is that they are not affected by wet weather or icy runways. They can act to enhance aircraft safety in a wide range of conditions. Therefore, efforts are being made by industry players to design and manufacture thrust reversers with lighter materials – especially composites. Another vital factor that may influence this business sphere is airports attempting to restrict noise levels. As manufacturers innovate methods to improve acoustic protection during takeoff and landing by reinforcing the structure and using novel materials, aircraft thrust reverser industry is likely to witness considerable expansion.
Subject to the fact that the region houses numerous industry biggies, North America is projected to account for a prominent share of the overall aircraft thrust reverser market. The presence of a large passenger base and a developed airlines industry has also contributed to the growth of aircraft thrust reverser industry in the region. Europe aircraft thrust reverser market on the other hand, will be driven by countries like Germany, France, Italy, and Russia, where stringent government regulations have been laid across to produce more fuel-efficient aircrafts.
With globally acclaimed regulatory bodies emphasizing on the importance of aviation safety, aircraft thrust reverser industry stands to witness a rising growth potential over 2017-2024. Speaking of safety in fact, it has been observed that runway excursions are one of the most common type of aviation accidents. According to the US National Business Aviation Association, nearly one third of all business aviation accidents are caused by aircrafts overrunning the runway or veering off during takeoff or landing. Efficient thrust reversers can go a long way in mitigating such accidents. Indeed, the rising demand for these products to minimize the occurrence of such mishaps is likely to propel aircraft thrust reverser market size to quite an extent. As per estimates, aircraft thrust reverser industry size is forecast to cross $2.2 billion by 2024.
Author Name : Paroma Bhattacharya