An outline of airless tires market in terms of product innovations, global demand to exceed 139 thousand units by 2024
Airless tires market has indeed gained a commendable acclaim over the recent years, especially amidst the backdrop where disruptive tech driven trends are aptly reshaping the mobility sector. Given that forces like diverse mobility, connectivity, autonomous driving, and electrification are already on the horizon, it is expected that airless tires industry would soon conveniently establish itself as the next lucrative investment avenue. This is apparently vivid from the estimates that claim the global airless tires market to have garnered a revenue of USD 120 million in 2016. The growth is chiefly driven by the increasing demand for these next generation tires in heavy off-load vehicles, widely used across the military sector. In fact, military vehicles procured a prominent chunk of the airless tires industry landscape in 2016 and is anticipated to record a CAGR of 9% over 2017-2024.
U.S. Airless Tires Market, By Product, 2016 & 2024, (Units)
The concept of 3D printing is deemed to bring a disruption of sorts in the airless tires industry. Having recognized the immense potential of this technology, market players have been increasingly experimenting with 3D printing to unlock its credibility to the fullest. Quoting a recent case, Michelin, one of the leading airless tires market firms has recently made its way to the front page with the launch of its airless 3D printed tire. This breakthrough model is reportedly based on alveolar structure, similar to that of air sacs found on human lungs. That is to say that the interior of the tires are structurally solid while the outer layer is flexible, which prevent blowouts. What adds an extra feather to its hat is the product’s environmental viability – it is printed from biodegradable, organic, and recyclable materials.
Elaborating further on the competitive landscape, product innovations and development are the two prominent parameters underlining the sustainability quotient for the market players. Below are two of the latest developments in the product landscape of airless tires market.
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- Goodyear Tire & Rubber Company, one of predominant players in airless tires market, has recently released an airless or non-pneumatic turf tire solution for commercial mower applications. Reported to be exclusively available on Bad Boy Mowers’ Outlaw XP model, this groundbreaking airless tire technology is particularly designed to eliminate air pressure checks, and flat tires. The move is claimed to be a revolution with regard to the launch of non-pneumatic technologies in the automotive sector and is deemed to remarkably strengthen Goodyear’s position in the competitive landscape of airless tires industry.
- World’s first 3D printed airless bicycle tires have been recently tested on the streets of Berlin- the latest scoop that is grabbing the headlines in airless tires market. Reportedly, BigRep, the Berlin based tech giant has tested this new Pro Flex filament tire, which is claimed to be superior than other 3D printing filaments in terms of its unique flexibility, high resistance, and unmatched durability. With airless tires becoming a renowned trend in the transportation space, the move is certain to provide a remarkable competitive edge to BigRep.
It is vividly coherent that technological upgradations in product design and deployment are the top-notch parameters underlining the strategic landscape of this fraternity. The business space is set to garner an appreciable popularity across APAC belt, especially by the extensive growth of military and commercial vehicle sectors in China and India. APAC airless tires market is slated to hold more than 30% of the global landscape by 2024. All in all, with automotive OEMs increasingly exploiting the potential of these cutting-edge tires for overall weight reduction and performance enhancement of the vehicles, airless tires industry is likely to witness a slew of opportunities over the ensuing years. The global revenue share is projected to surpass USD 200 million by 2024.
Author Name : Satarupa De
Automotive electronics control unit (ECU) market to record over USD 95 billion in earnings by 2024, escalating demand for EVs to transform the industry landscape
The automotive electronics control unit (ECU) market has witnessed incredible growth over the last two decades, owing to unparalleled expansion of the global automobile production sector and the influx of technology within vehicles. Continuously evolving knowledge and skills have enabled the integration of advanced electronic elements within automobiles such as fuel injection control and exclusive infotainment systems. Increase in spending power of the general population has encouraged automakers to pioneer connected systems and cutting-edge features, propelling the automotive ECU industry development. As ECUs are programmed to monitor and regulate safety features and vehicle performance, a shifting preference towards safer, more efficient cars will greatly strengthen the automotive ECU market, which boasted of a revenue of more than USD 65 billion in 2017.
China Automotive ECU Market size, by application, 2012-2023 (USD Billion)
The International Organization of Motor Vehicle Manufacturers had revealed that a total of 97,302,534 cars and commercial vehicles had been manufactured across the globe in 2017. Practically, the number of ECUs in a car could be anywhere between 70 to more than 150, depending on the type of vehicles, indicating the massive demand that exists for the automotive ECU industry. The large number of ECUs have permitted enhanced safety features and external connectivity solutions to be installed in high-end as well as low-cost vehicles. Commercial vehicles have especially benefitted from the ECU’s ability to regulate the fuel injection system, as increased fuel efficiency plays a vital role in achieving economical goods transportation.
Notable advancements in ECUs have stimulated auto manufacturers to find ways for reducing emissions through efficient control systems, ushering in a transformation of the automotive ECU industry and leading to the growth of smart technologies. The advent of electric vehicles has furthered the development of ECUs required for complex monitoring and operating of a vehicle. Considered to be a rapidly expanding source of remuneration for the automotive ECU market, the battery electric vehicles (BEVs or just EVs) are gaining increased momentum with each passing year. Worldwide environmental concerns have been the primary driver for the EV industry, coercing nations to invest heavily into boosting the adoption of EVs.
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According to the U.S. government, a huge amount of greenhouse gas emissions in the country originates from the transportation sector and in 2016, almost 23% of it was contributed by medium and heavy duty commercial vehicles. As such, not only electric passenger and luxury cars but electric commercial vehicles have also started to attract demand from fleets and major corporations to cut down on their carbon footprint. Tesla, an innovator in the EV industry, has developed all electric Semis for the commercial sector, offering significant power and range to help customers maintain their bottom line while being environment-friendly. Representing a lucrative application scope for the automotive ECU market, the Tesla heavy duty tractor trailers can handle a weight of up to 80,000 pounds at full speed while giving a range of 300 to 500 miles.
Tesla has projected that by 2022, it would have received orders for about 100,000 Semis, with companies like UPS, Pepsi, Walmart, DHL and many others having already placed orders for the electric trucks. As other automobile manufacturers join the race for electric heavy duty vehicles, the automotive ECU market will experience considerable upsurge in investments to speed up productions. The International Energy Agency reported that in 2017 itself, the number of electric vehicles on roads had reached 3.1 million. In Europe, there was a 40% rise in the electric car sales in the first half of 2018, signifying that the EV industry is a budding customer base for the automotive ECU market, with growing inclination towards incorporating commercial EVs within fleets.
Although electric trucks have been used on the streets for many years now, the increased affordability of the technology has allowed vehicle makers to design and introduce new products. For instance, Piaggio Commercial Vehicles’ electric power range has been providing customers with clean medium-duty commercial vehicles having, comfortable power delivery system and appreciable range, for over 20 years. The automotive ECU industry is thriving due to the efforts of companies who want to bring forward the transition towards a greener transport industry, like Daimler, who is developing 25 ton truck, and Proterra, which has designed an electric public transportation bus.
Poised to surpass USD 95 billion in earnings by 2024, the automotive ECU market is dominated by key industry participants like Bosch Group, Delphi Technologies, Hyundai MOBIS, Mitsubishi Electric Corp, Continental AG, besides others. Rising awareness about ADAS and other safety systems to prevent road accidents along with continuous research into designing powerful, more efficient ECUs will give significant propulsion to the automotive ECU industry over the coming years.
Author Name :Pankaj Singh