Automotive & Transportation
Europe automotive sunroof market to garner hefty returns by 2025, panoramic products to experience augmented demand
The global automotive sunroof market has gained significant momentum lately, a feat that can be attributed to the rising demand for passenger vehicles. Undeniably, this has been the result of an increase in consumer purchasing power, improved economic conditions and lower bank interest rates. Luxury cars is one of the many segments of the automotive domain that has experienced considerable demand over the last few years. A massive push from factors like growing prosperity along with shifting consumer habits will enable the luxury carmakers to tap more opportunities through a wider range of geographies, consequently impelling automotive sunroof industry size.
U.S. Automotive Sunroof Market, By Product, 2018 & 2025, (USD Million)
Recently, the German luxury brand Mercedes kicked off 2019 with a sale of 22,507 vehicles. Sunroofs in cars act as a top-notch luxury feature, with most luxury cars having one with higher-end variants as well as lower end. The growing demand for luxury cars will thus drive the global automotive sunroof market demand over the forthcoming years.
Electric cars are estimated to be the next disruptive market force as far as the impact of technology in transportation is considered. Electric cars are a one-stop solution to the environmental impact of conventional cars. One of the main reasons for the introduction of electric cars is the concern over greenhouse gas emissions and their role in global warming. Given its environmental benefits, its sales are further spurred by the imposition of stricter government regulations concerning CO2 emissions and fuel use.
Lately, the electric vehicle market is experiencing immense growth in the Asia Pacific owing to the rising environmental problems coupled with government support. This growth can be attributed to the surging demand from nations like China, which has apparently become the world’s largest electric vehicle market. The nation is home to major market leaders like BYD, which is the world’s largest electric vehicle maker. The company is anticipating increased demand for electric vehicles in China along with continued growth in the coming years. The global automotive sunroof market will thus gain significant prominence in China and other APAC economies in the coming years owing to the growing demand for electric vehicles across the region.
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As per Global Market Insights, panoramic sunroofs are anticipated to gain substantial traction between 2019 to 2025. Panoramic systems normally comprise a multi-panel roofing design that facilitates opening above the front and back seats instead of offering a single option in the center of the vehicle. Moreover, panoramic sunroofs are considered to improve the aesthetics of a car compared to traditional sunroof models.
To offer innovative in-car technologies, auto manufacturers are looking at newer and better sunroofs in their vehicles. The perfect example to validate the point is the BMW X7, the all-new SUV by the Munich-based luxury carmaker. The model includes a three-part panoramic sunroof to let in light, with a touch of theater to display over 15,000 graphic patterns on its glass through LED lights. Such innovations are a significant addition to a car both aesthetically and for ventilation, which would attract more demand from luxury car enthusiasts. The expansive demand for innovative designs and enhanced aesthetics will thus help fuel panoramic automotive sunroof industry share in the years to come.
Considering the geographical penetration, it would be vital to mention that the Europe automotive sunroof market will depict substantial growth over 2019-2025, powered by the presence of several automotive majors across its nations. Eminent automotive manufacturers operating in the region include BMW, Volkswagen Group, Fiat Automobiles S.p.A and Daimler AG among others. These companies are constantly introducing advanced products and expanding their production capabilities to meet the growing demand.
Additionally, the region is also one of the significant markets for electric vehicles. For instance, data by the Norwegian Road Federation unveiled that electric cars accounted for nearly 60% of all new cars sold in Norway in March since the country is vying to end fossil fueled vehicles sales by the end of 2025. Collective efforts by private and public sector bodies of the region to reduce the environmental impact of conventional vehicles will accelerate the adoption of electric vehicles, eventually pushing Europe automotive sunroof industry trends over 2019-2025.
The global automotive sunroof market is susceptible to encounter multiple opportunities in the following years, on account of technological advancements in sunroofs, the launch of new automotive models, and increasing investments into R&D for developing advanced technologies. According to a research report by Global Market Insights the global automotive sunroof market valuation is estimated to surpass $40 billion by 2025.
Author Name : Krithika Krishnan
Global market Insights has announced addition of a new study based report on automotive air filters market. The report estimates this market to be worth USD 7.2 billion by 2022, at a growing CAGR of 8.1% from 2015 to 2022 owing to escalating demand for two wheelers and passenger particularly in BRICS countries because of growing disposable income and rising industrialization rate. The automotive air filters industry is largely determined by the trends in the automotive industry globally. Furthermore, increasing awareness regarding health disorders related to contaminated air and growing air pollution is also projected to positively impact the market growth. Growing air pollution is a key factor to drive the industry growth.
View a summary of the “Automotive Air Filters Market Size, Industry Analysis Report” @ https://www.gminsights.com/industry-analysis/automotive-air-filters-market
The report covers comprehensive market overview including definition, application and segmentation on the basis of region, product, end-use, application and competitive landscape. The report includes in-depth analysis of the market with focus on key factors that influence the market like drivers, impediments, opportunities and challenges.
Growth of electric vehicle industry owing to its features like less maintenance, negligible gas emissions, and environment friendly is expected to influence automotive air filter demand. Advent of electric vehicles is likely to hamper automotive air filters industry growth.
Cabin filters are projected to continue its dominance in the global automotive air filters product segment and witness substantial growth during the projected period. Intake filters are likely to upsurge at a projecyed CAGR of over 7% in the near future owing to rising consumer awareness about the long lasting automotive engines.
Passenger cars dominated the application segment and is expected to observe growth during the projected time frame owing to growth in tourist and personal vehicles. Light & heavy commercial vehicles are forecast to grow steadily.
Aftermarket is likely to dominate the end use segment with maximum gains over the anticipated period. The growth attributed to rising need of air filters replacements.
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Asia Pacific is projected to be the dominant region owing growth in automobile production growth in the region. U.S. market size is likely to register substantial growth over 8% by 2022.
Highly fragmented global automotive air filters market has witnessed frequent mergers and acquisitions. The report features competitive analysis of the key players with profiles, business strategies, current trends, and financial metrics listed in the report. The key players covered in the report include Denso Corporation, Cummins Inc., Lydall Inc., Ahlstrom Corporation, Parker Hannifin Corp., K&N Engineering Inc., Toyota Boshoku Corporation and Roki Co. Ltd.
Author Name : Dhananjay Punekar
Global automotive HVAC market remuneration to surpass US$25bn by 2025, escalating demand for EVs to alter the industry dynamics
Increase in the purchasing power of consumers has significantly propelled the automotive HVAC market revenues worldwide, as vehicle sales have been rising every year and creating massive opportunities for businesses associated with vehicle manufacturing. The International Organization of Motor Vehicle Manufacturers (OICA) had reported that in the year 2017, more than 96.8 million vehicles had been sold globally, which was approx. 2.9 million more as compared to 2016. These figures represent the gradual development of the auto manufacturing segment, which has been supported by consistent innovations in production process and in-vehicle technologies.
China automotive HVAC market size, by vehicle type, 2018 & 2025 (USD Million)
The automotive HVAC industry will subsequently benefit from the increased demand for luxury cars and improved comfort features in low-priced cars as well as commercial vehicles. Introduction of automated systems in cars to control temperature and cooling functions will greatly transform the automotive HVAC market dynamics.
Essentially, automatic climate control systems have been designed to allow drivers to maintain a desired temperature level throughout the ride, without the need to constantly adjust any settings. Sensors help the system to determine existing conditions and make heating or cooling changes by itself, enhancing the conform and driving experience. Innovative features like dual-zone and tri-zone automatic control have also advanced the automotive HVAC industry to a great extent. These systems enable the driver and passengers in a vehicle to maintain different temperature levels in different sections, in the front as well as in the back of the cabin. Over the next few years, however, the rapid adoption of electric vehicles (EVs) and the ceaseless efforts to develop autonomous vehicles will create various challenges for the automotive HVAC market.
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According to the OICA, 16% of the global man-made CO2 emissions result from road transport, which justifies the tremendous amounts of investments being directed towards commercializing EV technology and advancing hybrid vehicle production. Generally, heat dissipated from the engine of a vehicles is utilized to control the temperatures in the cabin, making it difficult to easily provide heat in EVs, as they do not have a combustion engine. Several solutions have been suggested by experts, institutes and government agencies to overcome these difficulties for ensuring a fast-paced growth of the EV industry. The automotive HVAC market will consequently need to evolve for meeting the future requirements of zero-emission vehicles. Describing one such effort to find effective solutions for EV heating and cooling systems, two Hyundai Sonatas PHEVs were tested by the National Renewable Energy Laboratory (NREL) in U.S. for a novel solution.
Elaborating on the study, on of the vehicles was modified with a range of components for reducing climate control load, such as solar reflective glass, solar reflective paint, electrically-heated windshield and heated surfaces around the driver. The heated windshield was found to clear ice in 6 mins using only 0.1 kWh electricity and reached occupant comfort in only 15 mins. In comparison, the unmodified vehicle cleared ice in 19 mins by utilizing 2.6 kWh of power and reached occupant comfort in 29 mins. In a further study conduct using the vehicles at Hyundai’s premises, the modified Sonata exhibited a 11.4% increase in range and 23.7% decrease in energy usage by the HVAC system. The study indicates the importance of further developing the automotive HVAC market and the remarkable prospects it holds in expanding the sustainability of EVs.
Advent of fast-charging technologies for EVs has also made it necessary for installing effective cooling control in vehicles, as a vast quantity of heat is generated at the cable and battery level during super charging process. It must be noted that the efficacy of such cooling systems determine the overall range of an EV, and the life of batteries used in these cars. The potential of growth for the automotive HVAC industry from the development of EVs could be surmised from the fact that BMW expects 15% to 25% of its global sales to be composed of electric models by 2025.
In a nutshell, the unprecedented growth in the development of automobile manufacturing technologies and the augmentation of emerging EV platforms will drive the automotive HVAC industry, which is comprised of key players such as Denso Corporation, Calsonic Kansei Corporation, Hanon Systems and Air International Thermal Systems, among several others. Factors like improving vehicle efficiency and cutting down on emissions will also fuel the transformation of the global automotive HVAC market, which is projected to exceed USD 25 billion in valuation by 2025.
Author Name : Pankaj Singh
Bearings market size is expected to exceed over USD 142 billion by 2022, as it will grow over 7.6% in the coming years. This product is an essential mechanical component for proper and smooth running of vehicles and machineries. The industrial heavy machinery sector is the largest end user market, followed by automobile sector which can’t run without this product. The future growth of this market will come with an increase in requirement in aerospace and railway sectors. Asia Pacific is the greatest and fastest rising market in this sector, followed by China. Asia Pacific market was USD 36 billion in 2014 and is projected to gain USD 68 billion by 2022 with a CAGR of 8% between years 2015-2022.
View a summary of the “Bearings Market Size, Industry Analysis Report” @ https://www.gminsights.com/industry-analysis/bearings-market-report
Increase in number of commuters taking advantage of public transportation is likely to be the key facet of rise in demand. Substantial growth is expected in this market because of high requirement for tapered roller components in wheels, gearboxes and journal applications along with ceramic coated ones used in traction-motor. They have small surface contact thus help in reducing friction which makes vehicle run smoothly and hence its demand can’t fall in future. It has a rising growth with approximately 42% of the overall share in 2014 and is expected to enjoy 78% in the coming year.
The market trends seem to be promising in future. Automotive bearing market is projected to get significant gains with projection of USD 71 billion at a CAGR of 7.3%. An upsurge will be seen in agricultural sector as it is likely to grow with a CAGR of 7% because of economic recovery and improved performance. Machineries used for agriculture are also estimated to contribute in the elevation of this market. But yes, it is worth to notice the importance of the roller variety. They are mainly used when load enduring capacity is more important than speed. As per the market report, roller range is estimated to touch USD 51 billion up to 2022.
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It is anticipated that Europe will achieve USD 32 billion by 2022 which was USD 18 billion earlier in 2014. One more example of rising market for this product is North America which is expected to get USD 25 billion by 2022. Bearing market share is highly productive. The list of top most companies includes Timken, NSK Global, SKF, Schaeffler Group, JTEKT and NTN Corporation and these companies are contributing almost 60% of overall industry share. However, counterfeiting is a major problem which can be challenging to this market in near future. It is a problem faced by many industries and is a threat for them.
Author Name : Dhananjay Punekar