Compaction Machines Market is Expected to Reach 6,310.7 Mn by 2025

Future Market Insights (FMI), in its latest report titled “Compaction Machines Market: Global Industry Analysis and Opportunity Assessment 2015 - 2025”, has projected the global compaction machines market to expand at a steady CAGR of 6.2% in terms of revenue during the forecast period 2015–2025. The compaction machines market is estimated to reach US$ 3,444.3 Mn by the end of 2015, and 6,310.7 Mn by the end of 2025.

Increasing investment in infrastructure development and new road development and maintenance is fuelling demand for compaction machines globally. It is projected that the total investment in infrastructure activities would account between 3.5% and 4% of the global GDP by the end of 2030. Investment in road development and maintenance is forecasted to account for 28% of the total investment made between 2015 and 2025. Furthermore, focus on developing smart cities, runaways, and dams is further expected to boost demand.

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Product-wise, the market is segmented into heavy compaction machine and light compaction machine. Heavy compaction machines are further sub-segmented into single drum roller, heavy tandem roller, and pneumatic roller. Light compaction machines segment, is sub-segmented into light tandem roller, hand operated machines, and trench roller. As far as unit sales are concerned, the light compaction machines segment account for approximately 85% share of the overall market in terms of unit sales,and is likely to dominate the market by the end of 2025, with the rising adoption in footpaths, road, and highway maintenance.      

Region-wise, Western Europe and Asia Pacific represented prominent markets for compaction machines globally in 2014. In terms of market value, the compaction machine market in developing countries of Asia Pacific is collectively projected to expand at a CAGR of 7.6%, with major Asian economies such as India and China playing a major role. However, in term of unit sales, Western Europe dominates with more number of unit sales in the light compaction machinery segment. The Asia Pacific region is expected to be the largest compaction machine market in terms of value by 2025 end, followed by Western Europe and North America.  

As per the ongoing trend in the market, the intelligent compaction machines with display, sensors and telematics are being included in most of the key players’ product offerings.  Currently, the heavy compaction machinery’s rental penetration and secondary sales market is growing significantly. However, this trend is expected to pose a major challenge for new equipment sales.

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Key companies in the compaction machines market include XCMG Co. Ltd, Wacker Neuson SE, Terex Corporation, Atlas Copco, Volvo Construction Equipment - Volvo CE, Caterpillar Inc., BOMAG GmbH, Zoomlion Heavy Industries Science and Technology Co Ltd, Wirtgen Group and Sany Heavy Industries Co Ltd. Currently, global players account for over two-thirds of global revenues, however, in the future, new entrants to the market are expected to gain traction.

Automotive In-Wheel Motors Market is Estimated to be Valued at US$ 824.6 Mn by 2019 End

Automotive in-wheel motors have recorded a remarkable surge in sales in recent years, influenced by multiple factors ranging from greater driving range per charge to elimination of components such as driving and differential shafts. According to a study of Future Market Insights (FMI), the automotive in-wheel motors sales will exceed 720 thousand units in 2019. Affordability of in-wheel motor in terms of power consumption relative to the traditionally employed central drive unit system will continue to uphold its preference by automakers in the near future.

Elimination of unnecessary components is one of the primary adoption determinants of automotive in-wheel motors, as they significantly reduce the weight of battery-electric vehicles (BEVs), while crawling up on vehicle electrification and lightweighting trends. BEV accounted for over 7 in 10 automotive in-wheel motors sold worldwide in 2017, according to the study. A key trend influencing BEV-specific in-wheel motor sales is miniaturization and integration of inverter, which features a compact design.

Automotive in-wheel motors are likely to remain touted as a sustainable future alternative to propulsion systems used in powertrains. With promising future prospects of BEVs, and palpability of optimized hydrogen fuel cell technologies, certainty spotlights automotive in-wheel motors’ promising prospects in the upcoming years.

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Passenger Cars Hold Supremacy in Adoption of Automotive In-Wheel Motors

The study opines that passenger cars will continue to retain their reign in the automotive in-wheel motors market, with approximately 637 thousand units expected to be sold in 2019. Key offerings with affordability, such as improved vehicle dynamics and lower design complexity in power transmission to wheel, continue to drive adoption of automotive in-wheel motors in passenger cars. Passenger cars integrated with in-wheel motors enable enhanced traction control, along with torque vectoring functions devoid of added bill-of-materials.

The automotive in-wheel motors market grows in tandem with penetration of electric vehicles is significantly backed by the regulations on vehicle emission, as nearly 20% of these emissions result directly from fuel evaporation. Contribution of these zero emission vehicles to environment pollution is insignificant, despite their indirect impacts during electricity generation and storage.

Automotive In-Wheel Motors Market: Key Players Introducing Novel Solutions to Clasp Greater Share

Key players in the automotive in-wheel motors market have come up with novel solutions to offset latent challenges faced in terms of deployment, operation, and functionality. Companies such as Protean Electric have claimed to have overcome obstructions related to use of automotive in-wheel motors, such as road shocks and additional mass, along with complexity associated with motor control software.

Protean’s new automotive in-wheel motors make drivetrains highly energy-efficient, while increasing the fuel economy over 30%. On the other hand Nissan has developed automotive in-wheel motors for the working prototype of the company’s futuristic concept car. Companies such as Ziehl-Abegg have introduced automotive in-wheel motors that enable application in fuel-cell, battery-operated, and hybrid commercial electric vehicles.

Permeation of electrification trend in the automotive space shows no signs of abating, with prospects revolving around motor and charging technologies that are becoming more multipurpose and sophisticated. Robust uptake in electric vehicles worldwide has led automotive OEMs to catch up with efforts on the development of second-generation motors, wherein performance, noise, and efficiency are deemed key imperatives. Higher levels of auto parts integration, and sturdy, compact packaging of powertrain components are some of the imminent developments in the automotive in-wheel motors market.

As benefits of automotive in-wheel motors continue to outweigh challenges faced in their deployment and functionalities, along with efforts toward offsetting the latter, industry leaders have directed their focus on R&D activities. These researches are primary aimed at design developments to impart mechanical, electrical, and thermal stress resistance to the automotive in-wheel motors during their operation.

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This FMI study also offers forecast on the automotive in-wheel motors market for the period between 2018 and 2027. The automotive in-wheel motors market will record a staggering CAGR of over 35% through 2027.

Global Fire Trucks Market Emerging Trends And Competitive Landscape 2019 - 2027

With surging industrial safety concerns and frequently evolving safety regulatory guidelines, fire trucks continue to witness significant technological innovation. To cater to stringent norms set by the US NFPA (National Fire Protection Association) and other government affiliated entities, manufacturers of fire trucks are focusing on equipment upgrade – translating into demand growth in the fire trucks market.

Below 4% Y-o-Y Forecast for Fire Trucks Market Revenue in 2019

The global fire trucks market has been witnessing emergence of specialized fire trucks in recent past, which is foreseen to be an important factor contributing to market growth. However, the approximately US$ 5 billion global landscape of fire trucks is projected for a sluggish below 4% yearly growth rate in 2019 and ahead. A new market intelligence on global fire trucks landscape forecasts a passive growth outlook for the market. High initial capital and relatively low penetration rate are prominently posing a challenge to the market growth, as indicated by the report.

A senior market research analyst adds further, “Even though the fleets of fire trucks are aging, they are not being replaced by the new ones at a considerable pace. While this is straightaway hampering the sales of new fire trucks, the entire scenario ultimately results in limiting the revenue growth of global fire trucks market. This is foreseen to be the situation in the long run, if the same continues over coming years”.

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Improving Scope of Rescue Fire Trucks to Uplift Market in Developing Regions

Developing regional markets, experiencing dramatic advancements in construction and infrastructure industries, are compelling various governmental and non-governmental bodies to impose strict regulatory and administrative codes. This, according to the report, will remain the key factor propelling demand for fire trucks across emerging economies, in coming years. 

More than 55% sale of fire trucks is accounted by adoption for residential and commercial end use applications, followed by that in enterprises and airports. While the rampant expansion of construction industry is cited responsible for catering to the demand for fire trucks in residential and commercial sectors, developed regional markets are presumably driven by consistently progressing interest in adoption of the cutting edge technologies enabled fire mechanical assemblies and equipment. The report thus highlights relatively high rate of fire trucks purchase across economies such as the US, UK, France, and others in North America and Europe.

While Europe and North America remains the global manufacturing and operational hubs for key manufacturers of fire trucks, the report projects a strong possibility of developing regions serving significantly in reshaping the entire competitive scenario of fire trucks market. A large number of SMEs in the fire trucks space are rapidly shifting their manufacturing bases to progressing economies - including China, India, Russia, Brazil, and ASEAN countries, to capitalize on the inexpensive labor costs and lucrative opportunities arising in the residential and commercial segments. The report says that over the next few years, Latin American market for fire trucks is likely to witness emergence of Brazil and ROW as production hubs for fire truck manufacturers.

The demand for rescue fire trucks is slated to sustain in airports to cater to soaring terminal security demands. Research also points to sustained sales of ARFF (aircraft rescue firefighting) vehicles for rescue operations at airport terminals. With a significant upsurge in air traffic and a considerably increasing number of airlines as a global level, it is more likely that the fire trucks demand at airports would be sustained over coming years.

Over 50% Market Value Share Belongs to Seven Leading Players

The top seven players in fire trucks marketplace account for more than half of the total market value, as indicated by research. The prominent companies competing in this fairly consolidated landscape are investing in strategic acquisitions and collaborations in an effort to reaffirm their market positioning.

Long-term contractual deals for reliable supply of specialized fire trucks are likely to strengthen strategic relationship between market leaders and key distributers. Expanding existing fire trucks portfolio, with maintaining the focus on novel technological innovations, leading manufacturers and suppliers of fire trucks that are actively operating across the global value chain are projected to prioritize fire trucks and equipment upgrade.

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Although pumpers and tankers contribute majorly to total sales of fire trucks at present, the report indicates growing demand for aerial platform fire trucks and rescue fire trucks – likely to shape competitive manufacturing strategies of key manufacturers in the market. In the backdrop of the rate of natural calamities occurred in recent past, it is more likely that rescue fire trucks would experience growing demand.

The Global Automotive Window Regulator Market To Surpass 600,000 Thousand Units In Sales By 2027-end

Increasing shifts of global automobile manufacturers toward imparting a number of automated features into vehicles has led to many developments automation of vehicles. Manual window regulators being replaced by automated ones has become a common sight in current automotive world. Global sales of automotive window regulators will reach 454,325 thousand units in 2017, according to a report by Future Market Insights (FMI). FMI’s report estimates the global automotive window regulator market to register 3.3% CAGR in terms of volume, to surpass 600,000 thousand units in sales by 2027-end.

APEJ will Remain Largest Market for Automotive Window Regulators

In terms of volume, Asia Pacific Excluding Japan (APEJ) is projected to remain the largest market for automotive window regulator, expanding at 4.4% CAGR during the forecast period. Sales of automotive window regulator in APEJ will reach 211,633 thousand units in 2017; by 2027 this number is estimated to surpass 300,000 thousand units. In addition, Middle East & Africa (MEA) is expected to be second-most lucrative region in the market by 2027-end. MEA market for automotive window regulator is projected to exhibit 4.3% CAGR through 2027.

OEM will remain the preferred sales channel in the market, in terms of volume. Global sales of automotive window regulator through OEM is estimated to reach nearly 500,000 units by 2027-end. In terms of volume, OEM and Aftermarket sales channels are projected to witness parallel expansion at 3.3% CAGR during the forecast period. Aftermarket sales channel is expected to hold low market share by 2027. This is primarily attributed to low breakdown rate, replacement rate and consumer preference to stick to default automotive window regulator present in the vehicle.

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Passenger Cars to Exhibit Highest Demand for Automotive Window Regulators by 2027-end

Adoption of automotive window regulator is expected to remain highest in passenger cars, based on vehicle type. Demand for automotive window regulator in passenger cars is expected to reach 530,539 thousand units by 2027-end. In contrast, HCVs are estimated to exhibit lowest demand for automated window regulator during the forecast period. By construction, cable type automated window regulators will remain preferred in the market. In terms of volume, demand for double rail cable is projected to grow at 3.9% CAGR through 2027.

On the basis of product type, automated window regulators will remain dominant in the market, with their sales projected to exceed 500,000 thousand units by 2027-end. This is attributed to functionality and lightweight characteristics offered by automated window regulators. In contrast, manual window regulators will witness a sluggish growth in sales during the forecast period. Frequent wear & tear off and complex structure of manual window regulators will impede their demand growth.

Increasing Demand for Personal Vehicles to Sustain Market Growth in APEJ

India and China are prominent markets for car manufacturers owing to growing population and increasing need for personal vehicles. In addition, many banks and financial institutes are offering various loan schemes, making it easy for people to own a car. These factors are expected to sustain market growth in APEJ. In contrast, people in this region are shifting toward power window regulator, owing to their better functionality. This is estimated to restrain growth of the market in APEJ.

Demand for aftermarket is witnessing a surge in MEA, owing to absence of manufacturing plants in this region. GCC countries import cars form other regions for sale. Increasing consumer dependence on aftermarket is projected to fuel market growth in MEA. In contrast, factors such as political unrest and sluggish demand for automotive industry are expected to impede market growth in MEA during the forecast period.

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Key market players identified in FMI’s report include Brose Fahrzeugteile GmbH & Co.KG, Grupo Antolin Irausa S.A., Hi-Lex Corporation, Imasen Electric Industrial Co. Ltd., Valeo SA, Magna International Inc., Shiroki Corporation, Robert Bosch GmbH, Kongsberg Automotive, Castellon Automotive SA, Johnan Manufacturing Inc., KÜSTER Holding GmbH, IFB Automotive Pvt. Ltd., Aditya Auto and Engineering Pvt. Ltd., Kwangjin Sang Gong Co. Ltd., Futuris Group of Companies.