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E-commerce automotive aftermarket industry to garner substantial proceeds over 2018-2025, fueled by the increasing adoption of AI and IoT for brand enhancement
The growing emergence of creative business models is one of the pivotal factors propelling e-commerce automotive aftermarket industry share. At present, the store, brokerage, and social commerce models have been intensely contributing toward the growth of online commerce. Taking into account the growing popularity of electronic commerce across the automotive sector, many giants in e-commerce automotive aftermarket have been making heavy investments to enhance their storage capacity by developing new warehouses. For instance, the U.S. e-commerce automotive aftermarket player, Turn5 has recently decided to invest USD 8 million to build a facility in Kansas. In addition, in 2017, the firm also expanded its distribution facility in Las Vegas to improve lead times and provide a faster shopping experience to customers. As of now, Turn5 is operating three aftermarket automotive websites, which are mainly devoted to the branding of popular automakers Jeep Wrangler, Ford, and Mustang. In this regard, the newly developed corporate headquarters will help company to gain more growth benefits through vehicle customization tools. It would thus be apt to state that the unique approach of players in e-commerce automotive aftermarket would impel this business vertical over 2018-2025.
U.S. E-commerce Automotive Aftermarket, By Consumer, 2017 & 2025, (million units)
Considering the increasing adoption of internet-based commerce services, the biggies in e-commerce automotive aftermarket industry are developing new advanced e-commerce platforms with convenient tools for next-generation users. For instance, in 2017, Dana Inc. launched a new e-commerce platform comprising an enhanced e-catalog system. This added module has helped many customers and distributors to identify the required component of various automobiles rather quickly. Through the development of such advanced and digitally transformed e-commerce platforms, the players in e-commerce automotive aftermarket are looking forward to gaining more competitive benefits in the ensuing years.
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Focusing on the growing competitiveness in e-commerce automotive aftermarket, several industry contributors including Denso Corporation, Flipkart, Advance Auto Parts, AliExpress, Amazon, Bosch, O’Reilly Auto Parts, E-bay, Auto Zone, and Napa Auto Parts have been entering into strategic joint ventures to enhance their product and service portfolios. For instance, an offline to online integrated social media platform operator, Moxian Inc., partnered with a leading offline to online automotive aftermarket e-commerce platform, Baoyanghui to improve its customer base mainly across China. Through this alliance, this e-commerce platform connects auto owners to the service center, auto dealers, independent mechanics, repair shops, and part stores. In addition, Baoyanghui will use Moxian’s media partner, Xinhua News Media in order to promote its services. In fact, Baoyanghui’s prominent presence in the automotive aftermarket vertical will help Moxian extend its regional presence across China e-commerce automotive aftermarket industry.
In the future, the increasing adoption of emerging technologies such as IoT and artificial intelligence is likely to stimulate e-commerce automotive aftermarket trends. The Germany based automaker, BMW, for example, recently launched its e-commerce pilot project to check the popularity of the brand outside Germany. Considering the fact that many automakers are now officially penetrating the aftermarket business, the intensity of competitive in e-commerce automotive aftermarket is slated to increase tremendously in the years ahead. As per estimates, the overall e-commerce automotive aftermarket industry is expected to surpass USD 30 billion by 2025.
Author Name : Sunil Hebbalkar
Ceramic water filters market to generate substantial revenue over 2016-2023, escalating demand from residential applications to augment the industry growth
Ceramic Filters Market is expected to carve out a lucrative roadmap over the years ahead, subject to highly stringent rules enforced by regulatory bodies such as ASTM, REACH, EPA, and NSF. These organizations have set up strict norms that monitor drinking water filtration systems, thereby propelling the usage of water filters, which will fuel ceramic filters industry share. These organizations are also renowned to undertake supportive initiatives that govern water filtration across industrial and residential arenas. These filters control the BOD (biological oxygen demand) of sewage and waste water before it is disposed into fresh water bodies. In addition, they eliminate harmful pollutant emissions before they are discharged into the environment. This will provide a positive impetus to global ceramic filters market, which is expected to grow at a CAGR of 15.5% over 2016-2023, with a base valuation of USD 900 million.
U.S. Ceramic Filters Market size, by application, 2012 – 2023 (USD Million)
Global ceramic filters industry is fiercely competitive and includes the presence of many leading manufacturers. The rising carbon emissions and the subsequent regulatory pressure will bring in lucrative opportunities for companies to enhance their business position. Key participants of global ceramic filters market include Tri-Mer Corporation, Haldor Topsøe, Anguil Environmental Systems, Inc., Pall Corporation, Clear Edge Filtration India Pvt. Ltd., Glosfume Ltd., 3M, Unifrax, and Doulton. The product value chain is characterized by backward and forward integration.
Air filters are heavily deployed across residential and industrial sectors subject to regulatory mandates to monitor the emissions of carbon and other toxic pollutants. Air ceramic filters market size was worth USD 400 million in 2015 and is anticipated to increase substantially over the next few years. These filters are used in the industrial sector for hot gas filtration, bio filtration, and fluid filtration. Ceramic filters industry size from industrial applications was worth more than USD 300 million in 2015 and is expected to increase at a CAGR of 15.5% over 2016-2023.
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Asia Pacific held more than 33% of global ceramic filters market revenue, thereby accounting for the largest share in 2015. With India and China as key contributors, APAC ceramic filters industry size, with an initial valuation of USD 300 million in 2015, is expected to register lucrative gains over the next six years. This growth can be primarily attributed to the rapid industrialization in the region coupled with strict government norms regarding pollutant emissions.
Water ceramic filters market was valued for slightly lesser than USD 500 million in 2015. These products will be heavily used across the industrial and residential sectors for water filtration and air purification. Regulatory norms regarding air and water quality will propel water ceramic filters industry over the next few years.
Residential applications accounted for more than 40% of global ceramic filters market in 2015 and are anticipated to be the key application segment over the next six years. Huge demand for ceramic filters in residential complexes will spur the product demand, leading to ceramic filters industry growth from residential applications, especially, across the African countries.
Subject to the huge number of petrochemical industries and the rising economic growth, Middle East and Africa ceramic filters market is anticipated to grow at a profitable CAGR of 17.5% over 2016-2023. The population across this region has also experienced an increasing awareness regarding the importance of clean, purified water and high air quality, which will augment MEA ceramic filters industry size, slated to cross USD 150 million by 2023.
Ceramic filters are highly corrosion resistant and are inert to most chemicals. In addition, they possess excellent mechanical properties, which will augment product demand. However, volatile raw materials such as zirconium oxide, titanium oxide, and aluminum oxide are vulnerable to periodic price fluctuations. Furthermore, the availability of these materials is also fairly inconsistent, which may result in expensive manufacturing. This poses a major restraint to global ceramic filters market. However, market players have been striving to eliminate these constraints and make the manufacturing process a little less capital intensive.
Author Name :Saipriya Iyer
North America automotive aftermarket to accumulate substantial proceeds, global industry valuation to cross a humongous USD 1,420 billion by 2024
The changing preferences of consumers toward the comfort, appearance, & performance of vehicles has fueled automotive aftermarket to quite an admirable extent. As customers focus toward leading a luxurious lifestyle, complete with personalized vehicles for commuting in style, courtesy – increasing disposable incomes, automotive aftermarket is likely to witness lucrative gains in the years to come.
The subsequent wear and tear of existing automobiles will quite overtly lead to car owners wanting to replace old parts, enhance the vehicle’s appearance, and replace the car’s internal components for improved efficiency and safety. Eventually, this would propel the demand for state-of-the-art aftermarket parts, augmenting the commercialization landscape of automotive aftermarket.
U.S. Automotive Aftermarket, By Sales Outlet, 2017 & 2024, (USD Billion)
The ever expanding automotive sector is one of the most crucial drivers of the global automotive aftermarket. Over the last couple of decades, the demand for automobiles has only skyrocketed across the developed and developing economies. According to estimates by OICA, LCVs and passenger cars accounted for a sales figure of close to 86 million units in the year 2017 – apparently an upsurge of 2.4% when compared to the previous year. As the sales of commutable vehicles continue to increase and the demand for afterparts experiences an uptick, the remuneration portfolio of automotive aftermarket will undergo a significant change, as per experts.
Another trend that has lately made its presence felt in automotive aftermarket is the rising deployment of eco-friendly techniques in automotive manufacturing. Driven by a stringent regulatory landscape pertaining to environmental safety and the concerns stemming from rising carbon emissions, the demand for sustainable, alternative automobile parts has considerably increased, thereby driving the global automotive aftermarket share.
Unveiling North America automotive aftermarket trends over 2018-2024
North America, primarily driven by the United States and Canada, has been one of the most significant growth grounds for the global automotive aftermarket, which principally can be attributed to the expanding automotive industry in the region. The continent has been a witness to an upsurge in the production of new vehicles and the enhancement of older ones. Furthermore, the region is a powerhouse of technological advancements in automobile production and upgradation, which is likely to generate novel opportunities for aftermarket companies in the years to come.
North America is also remnant of a consumer base that demands increasing vehicle personalization, Bluetooth connection, digitization, and other interesting automotive electronics. The incorporation of advanced accessories is thus likely to drive North America automotive aftermarket. Incidentally, the region accounted for 30% of the overall automotive aftermarket share in the year 2017.
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Another pivotal factor likely to drive North America automotive aftermarket over the forecast period is the improved fuel economy that would quite overtly, augment the average miles that the customer drives, which would lead to increased wear and tear in vehicle parts. This would eventually fuel the requirement for aftermarket spare parts in the continent, stimulating North America automotive aftermarket industry trends.
Technological advancements have indeed had a major impact on the overall automotive aftermarket in the last half a decade. The surging demand for electrification and installation of software has been touted to generate novel avenues for aftermarket workshops and suppliers. The popularity of ADAS, infotainment systems, and telematics will also serve to augment the demand for technologically developed parts, that would help stimulate automotive aftermarket industry growth in the years to come.
Some of the most noteworthy players in automotive aftermarket fall along the likes of the 3M Company, Akebono Brake Corporation, Delphi, Denso, Continental AG, Robert Bosch GmbH, ACDelco, ASIMCO Technologies ltd., Federal-Mogul, Magneti Marelli, and more. In a bid to expand their reach across myriad geographies, these leading contenders have been rather proactive in adopting business growth tactics such as strategic collaborations. Citing an instance of the same, nearly a couple of years back, industry player Faurecia inked its third JV with its partners in Iran with an intention to consolidate its presence in the regional automotive aftermarket.
Author Name :Saipriya Iyer
North America compressed air treatment equipment market to accrue significant proceeds by 2026
Myriad usage across many industries, such as healthcare, manufacturing, and food & beverage will stimulate compressed air treatment equipment market trends. Several industries are witnessing an increase in demand for treated compressed air. The food and beverage industry is a major end user of the market, which utilizes compressed air to cool and freeze products. In the food & beverage industry, consumption of compressed air is likely to surge owing to the consolidating trend of maintenance of a healthy lifestyle.
A research study conducted by Global Market Insights, Inc., suggests that compressed air treatment equipment market is likely to exceed the $12.8 billion mark by 2026, in terms of revenue.
Highly pure form of compressed air has found a multitude of applications in the healthcare and food & beverage industries. Research & development activities are increasing in the healthcare industry, which has multiplied applications of the product. Compressed air treatment equipment is used in dental applications as well for powering dental tools and dental milling machines. Numerous applications in various industries are expected to spur compressed air treatment equipment industry growth in the ensuing years.
Compressed air treatment equipment has found a variety of applications in the food & beverage industry owing to the massive consumption of contamination-free compressed air in several operations, such as nitrogen generation, pelleting & packaging, and cooling & freezing products. In addition, the market is anticipated to observe colossal growth from increasing demand for compressed air in processing, bottling, cleaning, and packaging applications in the food & beverage industry.
Compressed air treatment equipment is extensively used in critical instruments, such as transmitters, converters, indicators, thermostats, and recorders. The manufacturing sector, which is in the midst of industrial automation, has opened up new avenues for the expansion of instrument air application segment. The product is highly used in operating precision equipment and machineries. The instrument air application segment is projected to surpass a valuation of around $4.5 billion by 2026.
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The other product segment of compressed air treatment equipment industry consists of drain traps, condensate treatment equipment purifiers, etc. As per estimates, the other product segment is likely to account for more than $750 million by 2026. The segmental growth will stem from stringent government regulations pertaining to the disposable condensate, which will contribute to enhance compressed air treatment equipment market trends.
Elaborating on the regional contribution, North America is expected to emerge as a key compressed air treatment market. The region houses several leading manufacturing and food & beverage industry participants, which generates massive demand for compressed air treatment equipment. In addition, a series of investments directed towards the advancement of the healthcare industry is anticipated to fuel compressed air treatment equipment industry demand. North America compressed air treatment equipment industry is anticipated to register a 5.5% CAGR over 2020-2026.
Compressed air treatment equipment market is witnessing a forward integration owing to the high degree of competition among business players. The companies operating in the industry are prioritizing business strategies, such as expansions, acquisitions, product development, etc., to gain profits. Some of the notable compressed air treatment equipment industry players include Donaldson Company, Inc., Gardner Denver, Kaeser, Sullair, Sullivan-Palatek, Atlas Copco, Beko Technologies Corp., and Boge Compressors. A few more eminent business participants are Emerson Climate Technologies, Inc., CompAir Holdings Ltd., Precision Filtration Products, Seneca Companies, Quincy Compressor, SMC Corporation, etc.
Author Name : Anchal Solanki
Global Market Insights Inc. 