Watertight Doors Market Worth US$546.1 Mn by 2028

Watertight doors market witnessed sales of nearly 77,570 units in 2018 and is poised to grow at an impressive y-o-y of over 5.5% through 2019. Buoyancy of the global watertight doors market can be attributed to-

• Optimistic outlook of coastal and marine tourism
• Surging rate of ocean-based activities
• Rising focus on ship repair and maintenance
• Flourishing seaborne transportation and trade

Federal initiatives to promote marine safety have worked in favor of high-scale production of marine components, such as watertight doors. For instance, the Government of Canada is introducing additional measures for enhancement of navigation safety and emergency response in the Canadian waters. The measures were presented in the form of an official announcement and acknowledged as a part of Canada’s ‘Oceans Protection Plan’. On 14^th June 2018, the U.S. Coast Guard announced two workforce initiatives in line with the ‘Marine Safety Program’. Particulars as such provide enough credence to the promising outlook of watertight doors market in 2019 and beyond.

“Investments in various forms of sustainable tourism, including coastal and marine tourism, is underway. This, in turn, has resulted in augmented production of marine vessels and associated components for safety, such as watertight doors. Rising vigor of ocean-based industries, such as offshore exploration and production, is supporting growth of offshore marine vessels and related components, including watertight doors”, says FMI report

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The report opines cruise ship revitalization and overhauls to be a prominent trend with profound influences on sales of watertight doors. The increasing demand for upgrading older ships by including advanced amenities and components is complementing the growth of building and repair activities, favoring high-scale production and sales of watertight doors.

As per the report, installation of hinged watertight doors is proliferating at an impressive rate, with global sales likely to cross 71,000 units in 2019. Robust watertight seal withstanding adverse conditions remains a key USP enhancing the visibility of hinged watertight doors over the sliding variants.

According to the report, end-users remain biased toward hydraulic as a viable source over electric ones in the watertight doors landscape, with global sales estimated to exceed 71,348 units in 2019. Hydraulic watertight doors have been traditionally employed in commercial and military vessels alike, owing to their attribute of greater power delivery through smaller force. Additionally, relatively higher control accuracy in light of simple push buttons and levers employed, and economic benefits owing to fewer moving parts equipped, are key demand determinants of hydraulic watertight doors.

Manufacturers Seek Approvals from Renowned Organizations to Boost Credibility

The manufacturing framework of watertight doors witnesses major reformations in the light of evolving environmental concerns. Manufacturing companies are switching to sustainability-driven approaches, wherein production processes and value creation for the environment remain closely associated. Manufacturers of watertight doors are seeking approvals from prominent organizations providing marine classification, such as International Association of Classification Societies (IACS), to boost consumer confidence and get repeat sales

Leading manufacturers of watertight doors are vying to offer distinguishable products to gain competitive advantages amid homogeneous competitors, which will help them strengthen their brand equity. Sensing the end-user shift toward high convenience and superior functionality, manufacturers of watertight doors remain focused on offering maintenance free and easy-to-install products for seamless operations on board.

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According to the report, the leading manufacturing companies are reinvigorating their technical know-how with high investments in research and development. This, in turn, is fostering their capabilities in terms of offering an ideal amalgamation of intelligent designs, enhanced longevity, and improved usability. Moreover, manufacturers are incorporating industry best drive systems in their products to offer reliable and safe products bolstering end-user convenience. As per FMI analysis, the industry giants remain involved in strategic collaborations with shipyards for seamless supply, which helps them boost their profit margins.

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.

Major Factors Driving the Growth of Global Automotive Telematics Market

Key Factors Driving the Asia Pacific Automotive Telematics Market

The rise in the production of vehicles, especially passenger vehicles, has boosted the demand for automotive telematics. In 2013, more than 45 million vehicles were produced in the Asia Pacific, of which more than 36 million were passenger cars, the prime application area of automotive telematics.

Internet penetration has increased globally. Growing demand for wireless technologies, such as 3G and 4G, has given a major boost to the Asia Pacific automotive telematics market. The future implementation of 5G services will further enhance the market for Asia Pacific automotive telematics.

Stringent government regulations regarding passenger safety and vehicle safety will propel the demand for automotive telematics in Asia Pacific. Moreover, governments have introduced general mandatory laws regarding the implementation of navigation devices, which is projected to further propel the demand for automotive telematics.

The many advantages of automotive telematics will give the necessary boost to the market. Automotive telematics provide preventive maintenance for vehicles and reduce their chances of wear and tear as well as wear and tear of their components by providing all information related to the vehicle.

FMI delivers key insights on the Global and Asia Pacific Automotive Telematics market in its latest report titled ‘Global Automotive Telematics Market: Industry Analysis and Opportunity Assessment 2014-2020.’ The long-term outlook on the Asia Pacific Automotive Telematics market remains positive with the market value expected to increase at a CAGR of 11.6% during the forecast period (2014-2020). Among vehicle types, the passenger vehicle segment is expected to expand at a significant CAGR in terms of value over the forecast period. The passenger vehicles segment of the Asia Pacific Automotive Telematics market is expected to hold 80% share throughout the forecast period. China is estimated to have accounted for a value share of 45.4% in the Asia Pacific Automotive Telematics market by 2014 end and is projected to be the most prominent region during the forecast period. In this report, FMI throws light on drivers and restraints likely to impact the Automotive Telematics market during this period.

Segmentation Analysis of the Asia Pacific Automotive Telematics Market

The Asia Pacific Automotive Telematics market is segmented on the basis of vehicle type, end use, technology type and channel type.

• Passenger vehicle is projected to continue to lead the market in terms of volume and value over the forecast period. The passenger vehicle segment of the Asia Pacific Automotive Telematics market is estimated to grow at a significant CAGR over the forecast period. It is expected to represent total incremental opportunity of US$ 6 Bn between 2014 and 2020. The commercial vehicle segment is projected to grow at a relatively higher CAGR as compared to passenger vehicle segment over the forecast period.
• The OEM segment is projected to be the most prominent channel type in the Asia Pacific Automotive Telematics market. The OEM segment is estimated to grow at a significant CAGR of 13.2%, in terms of value, over the forecast period.
• The market for Asia Pacific Automotive Telematics is estimated to be dominated by embedded technology, growing at a significant CAGR during the forecast period. However, the market for integrated/smartphone segment is expected to grow at a relatively higher rate of 12.6%, in terms of value, during the forecast period.

Asia Pacific Automotive Telematics Market Participants

The report highlights some of the top companies operating in the Asia Pacific Automotive Telematics market, such as Clarion Co., Ltd., Denso Corporation, Panasonic Corporation, Trimble Inc., and Harman International Industries, Inc.

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Regional Market Projections of the Asia Pacific Automotive Telematics Market

The Asia Pacific Automotive Telematics market in China is expected to represent significantly high incremental opportunity between 2014 and 2020. The Automotive Telematics market in China is expected to represent a total incremental opportunity of US$ 3.3 Bn between 2014 and 2020.

Automotive Aftermarket Based on Replacement Parts, Accessories, services and Countries 2014 - 2020

Future Market Insights (FMI) announces release of its latest market outlook forecast titled “Automotive Aftermarket: Asia-Pacific Excl. Japan (APEJ) Industry Analysis and Opportunity Assessment 2015 - 2025”. According to this report, automotive aftermarket components in Asia Pacific is anticipated to account for US$ 218.73 Bn by 2025, registering a compound annual growth rate (CAGR) of 9.1% throughout the forecast period. 

The automotive aftermarket is a secondary market, which plays a pivotal role post-sale of a vehicle, as it entails remanufacturing, manufacturing, distribution and installation of automobile components and accessories for vehicles. Components and accessories are installed post sale of a new vehicle by the dealer or service provider and this is termed as automotive aftermarket. Accessories include customized parts for convenience, safety, comfort and performance. These are designed as add-ons after vehicles are assembled by the original manufacturer. Services on the other hand include maintenance and repairs to ensure vehicles continue functioning, and providers offer options with regard to where vehicle owners can avail such offerings. 

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The replacement part segment is expected to expand at a CAGR of 9.7%, accessories at 8.9% and services at 7.3% during the forecast period. Components segment is further sub-segmented into oils & lubricants, tyres, batteries, wear & tear parts, filters, collision body parts, starters & alternators, lighting components, exhaust components and spark plugs. Among these, exhaust components and tires dominate the other segments. Demand for interior accessories is expected to register a CAGR of 8.4%, owing to increasing demand from automobile owners to enhance functionality and appearance of their vehicles, and this trend is expected to further drive overall market growth in the near future. Services is further sub-segmented into general automotive repairs and automotive transmission and other repairs.

Asia Pacific automotive aftermarket is majorly driven by growing vehicle parc, boom in vehicle sales and demand for general automotive repairs. This includes repairs and services related to transmissions, starters & alternators, brakes, lubricants, tyres, filters and batteries among others. Apart from this, increasing safety and security needs and favourable GDP growth in developing economies are major growth drivers for the ASEAN automotive aftermarket. However, despite certain technological challenges acting as growth restraints, the ASEAN automotive aftermarket is expected to experience rapid growth over the forecast period.

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This market forecast covers analysis and market value of each segment and respective sub-segment and potential of the connected automotive aftermarket in specific countries. Asia Pacific is forecast to emerge as the fastest growing market, owing to the large number of vehicles in operation and is expected to witness a steady growth during forecast period 2015–2025.