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Global Melamine Formaldehyde Market Analysis Trends, Growth & New Opportunity Forecast to 2023

A solid thermosetting polymer which is formed by the condensation polymerization is called melamine formaldehyde. It cannot be restructured or remolded. It is mainly known for excellent UV resistance, corrosion and thermal resistance, fire retardant, and durable properties. It is used to provide the flexibility, comfort and biocompatibility nature in the product.

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The global melamine formaldehyde market has been driven by its growing production in automotive, construction and building, electronics, wood & furniture, packaging, chemicals, and others. Moreover, it is estimated that the construction and building segment is set to witness the highest growth in the market due to increasing consumption of melamine resins in different products such as ceiling tile and foam board.

Market Segmentation

The global melamine formaldehyde market is segregated into the type and end-use.

Based on Type, the market is further categorized into methylated and non-methylated formaldehydes. The most widely used segment in the market is methylated formaldehyde. It is predicted that the growing use of methylated formaldehyde segment in coating, crosslinking, textile, nonwoven and papermaking applications is projected to drive the market in the couple of years. The non-methylated formaldehydes segment is estimated to witness the higher CAGR on account of its growing use in coatings, textiles and other industries.

Based on Application, the market is further sub-divided into automotive, construction and building, electronics, wood & furniture, packaging, chemicals, and others. Among these, construction and building hold most of the market due to extensive use of melamine resins in tiles, flooring, countertops, molding, and others.

The automotive segment is anticipated to witness a higher growth in the market due to growing substitution of heavy metals by light weight polymers. The endless use of melamine resins in packaging applications such as chopsticks, dinnerware, and containers are expected to drive the market in the coming years. Moreover, the growing production of TV stands, chairs and tables in wood and furniture segment is estimated to drive the market during the forecast period.

Segmental Analysis

The global melamine formaldehyde market is spanned across five key regions of the world namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major portion of the global market and is anticipated to continue its dominance due to rising demand for melamine formaldehydes in various applications. Due to these factors, China, Japan and India are the major players in this region.

The North American region is estimated to witness a higher CAGR in countries such as U.S.A, Canada and Mexico owing to growing demand for melamine formaldehydes in coatings, textiles, paper, and plywood sectors. A rapid development is observed in the European region owing to the extensive use of melamine formaldehydes in construction and buildings, automotive, and others.

Moreover, it is projected that the automotive segment is set to grow at a rapid rate in the market due to benefits and advantages offered by the product. Due to these factors, Germany, the U.K. and Italy are the major contributors to the melamine formaldehydes market in Europe.

The Middle East & Africa, and Latin America regions are estimated to observe a significant growth in the market due to the rapid production of melamine formaldehydes in construction, oil & gas, chemical, and other industries.

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Competitive Analysis

Some of the major players functioning in the global melamine formaldehyde market are BASF SE (Germany), Huntsman International LLC (the U.S.), Hexion (the U.S.), Mitsui Chemicals, Inc (Japan), Allnex group (Germany.), INEOS Melamines (the U.K.), Chemiplastica SPA (Italy), Hexza Corporation Berhad (Malaysia), Chemisol Italia s.r.l. (Italy) and Borealis Agrolinz Melamine GmbH (Austria) among others.

Ethylene Propylene Diene Monomer Market

Ethylene Propylene Diene Monomer Market Comprehensive Evaluation of Regional Markets, Technology, Types and Applications forecast to 2022

Market Research Future (MRFR) recognizes the following companies as the key players in the global ethylene propylene diene monomer market: Exxon Mobil Corporation (US), The Dow Chemical Company (US), Mitsui Chemicals, Inc. (Japan), LANXESS AG (Germany), Firestone Building Products Company (US), Sumitomo Chemical Co. Ltd. (Japan), Kumho Polychem Co., Ltd (South Korea), Johns Manville. (US), Carlisle Companies (US), Lion Elastomers (US), and Others.

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Commenting on this report, an analyst from Market Research Future (MRFR)’s team said, “Global Ethylene Propylene Diene Monomer Market size is expected to grow at ~5.5% CAGR by 2022.

The market witnessed a significant growth over the forecasted period owing to growing end user industries such as into automotive, building & construction, plastics industry, and others. Ethylene propylene diene monomer is an elastomer formulated from ethylene and propylene monomers.

EPDM has exceptional resistance to heat, ozone, sunlight, alkalis, acids and oxygenated solvents. It has very good temperature flexibility, superior resistance to water and steam. EPDM offers higher quality for external and differing temperature applications. Presently automobile industry has the biggest EPDM consumption.

Segment Analysis

The global ethylene propylene diene monomer market has been segmented into application and end use industries.

Based on application, the market has been divided into roofing membrane, electrical insulation, weather-seal, thermoplastic vulcanizes, tubing, lubricant additive, and other applications.

Based on end user market is divided into automotive, building & construction, plastics industry, and others. Among these end user industry automobile covers the largest ethylene propylene diene monomer market share.

EPDM has features like excellent elasticity, wear resistance, heat resistance, weather resistance, ozone resistance, fresh water & seawater resistance owing to these features it has a wide application in automotive industry specially in weather-strip, sealing components in engine cooling aircon system, coolant transfer hoses, shock absorber, dust proof cover, and tire sidewall.

 Furthermore, EPDM offers versatility, product ranges and availability, environmental benefits, and cost efficiency. EPDM rubber roofing membrane has been a supreme choice of the low-slope commercial roofing industry for over many years. National Roofing Contractors Association and Building Design and Construction magazine said in their market surveys that EPDM continues to be the first roofing choice of building proprietors, roof advisers, engineers, architects and contractors.

However, EPDM market must face various challenges in order to sustain market such as Green environment-friendly requirements for automobile components, new requirements of automobile industry for sealing strips, continuous development and application of other new thermoplastic elastomers, and many other.

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Low Rolling Resistance Tire Market is Anticipated to Register 10.8% CAGR by 2028

Extensively employed in commercial as well as passenger vehicles, low rolling tires will remain a popular choice among automakers and consumers, as a fuel efficient tire type. As the global demand for sustainability and fuel efficiency continues to mount, low rolling resistance tires are most likely to witness a strong surge in demand over the years to come.

  • The US$ 66 billion market for low rolling resistance tire is anticipated to expand at a prosperous CAGR of 10.8% during 2018-2028.
  • Since the tire replacement rate continues to be high, aftermarket is dominating over OEMs in terms of sales of low rolling resistance tires.
  • Low rolling resistance tires with wide band width will remain more preferred, accounting for almost 25% share of the total sales.

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In line with the increasing significance of reduced or zero carbon footprint, organizations such as the SmartWay Transport Partnership (US) will prominently continue to focus on transportation and logistics management in a sustainable manner. This and more such establishments are likely to drive the demand for low rolling resistance tires in the market, says the report.

Commercial Vehicles Lead in Terms of Generating Low Rolling Resistance Tire Demand : By vehicle type, heavy commercial vehicles will reportedly account for almost half of the global low rolling resistance market revenue that has been estimated through 2028. As commercial vehicles cover longer distances on a daily basis, fuel and cost efficiency will remain the most important factors associated with them, particularly HCVs, thereby favoring adoption of fuel efficient automotive components such as low rolling resistance tires.

Visibly increasing consumer shift towards commercial vehicles for long distance travel is estimated to amplify the sales volume of low rolling resistance tires in the near future. Moreover, since HCV tires tend to experience more wear and tear, translating into a higher replacement rate, sales of low rolling resistance tires are likely to remain higher in this segment – according to FMI’s analysis.

Europe Accounts for Nearly 25% of Low Rolling Resistance Tire Market : Europe is estimated to hold about one-fourth share in the global low rolling resistance tire market owing to rapidly growing implementation of the sustainable regulatory framework that prominently cover automotive components manufacturing. Low rolling resistance tire market in China and India is likely to demonstrate promising growth owing to improving economies, increasing vehicle parc, and tightening fuel consumption and emission regulations. 

The tire industry is highly competitive owing to the presence of several established players, building a fairly consolidated landscape for low rolling resistance tire market. Over half of the market value is accounted by organized players, according to FMI’s research on the global low rolling resistance tire market.

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Some of the key players active in the global low rolling resistance tire market are Apollo Tyres Ltd., Michelin SCA, Maxxis International, The Goodyear Tyre and Rubber Company, Bridgestone Corporation, Yokohama Rubber Company, Pirelli & C. SpA, Continental AG, Cooper Tyre & Rubber Co., Sumitomo, Trelleborg AB, and Hankook Tyre Worldwide Co. Ltd., among others.

Global Low Friction Coatings Market intelligence with competitive landscape in 2021

The report “Low Friction Coatings Market by Type (Polytetrafluoroethylene (PTFE), Molybdenum Disulfide (MoS2), End Use Industry (Aerospace, Automobile & Transportation, General Engineering, Energy, Food & Healthcare), and Region – Global Forecast to 2021”, The low friction coatings market is projected to reach USD 810.4 Million by 2021, at a CAGR of 5.7% from 2016 to 2021.

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The molybdenum disulfide (MoS2) coating type was the largest segment of the low friction coatings market

Molybdenum disulfide (MoS2) was the largest segment of the market in 2015 and is projected to witness the highest growth during the forecast period. Molybdenum disulfide is used as a dry lubricant coating and is applied in the form of a thin film on substrates. This thin film gives strong wear-resistant and low friction properties to the surface to which it is applied. MoS2 can withstand a temperature of more than 400oC and a high load. Therefore, MoS2 is preferred over PTFE in many end-use industries.

The automobile & transportation was the largest end-use industry of the low friction coatings market

Automobile & transportation was the largest segment of the low friction coatings market in 2015, followed by aerospace, general engineering, and food & healthcare. The increasing use of low friction coatings to reduce noise, vibrations, and emissions in automobiles has fueled the demand for these coatings across the globe. The low friction coatings market for the automotive industry is expected to witness high growth, due to their increasing use to improve fuel efficiency.

The growing demand for low friction coatings from China and India is expected to be a key factor for the growth of the market in Asia-Pacific

The Low Friction Coatings Market is expected to witness growth in near future, due to rapid growth in end-use industries, including automobile & transportation, food & healthcare, and general engineering. Asia-Pacific is one of the fastest-growing markets for several manufacturing industries, which has fueled the demand for low friction coatings in the region. Emerging economies such as China and India are attracting large investments from various manufacturers across the globe.

 Growing automobile industry has led to increasing demand for low friction coatings, globally. Asia-Pacific is one of the fastest-growing markets for several manufacturing industries, which has fueled the demand for low friction coatings in the region. India is expected to be the fastest-growing market for low friction coatings during the forecast period.  Key manufacturers in the market include Dow Corning Corporation (U.S.), The Chemours Company (U.S.), Whitford Corporation (U.S.), BECHEM (Germany), Endura Coatings (U.S.), and Poeton Industries (U.K.).

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Specialty Chemicals Market Size, Dynamic Demand and Production Forecasts, End-Use Demand Details, Price Trends, Global Growth Analysis By 2023

Specialty Chemicals Market Overview:

Specialty Chemicals Market is set to thrive at a CAGR of 6.21% during the forecast period 2018 to 2023. The market is set to grow from USD 710.03 Bn in 2017 to USD 1000 Billion by the end of 2023.

Specialty Chemicals from the automotive industry is the key factor responsible for favouring the expansion of the specialty chemicals market. The growth of the automotive industry directly reflects on the growth of the specialty chemicals market. These chemicals are widely used in lightweight vehicle applications. The upsurge in demand for lightweight automobiles is likely to catapult the market on an upward trajectory.

Specialty Chemicals Market is entering a maturity phase. However, low operating costs in the Middle East and the Asia Pacific has opened new avenues of growth in the specialty chemicals market. Several end-user industry players are shifting to these regions for establishing manufacturing units. This, in turn, is expected to intensify demand for specialty chemicals in these regions.

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Specialty Chemicals Market Key Players:

Market giants thrive on their superior execution of strategies that include merger, collaboration, acquisition, product launch, and others. These strategies often prove beneficial for both the companies and expanding the sector. For instance, Clariant AG is getting acquired by Sabic, and the decision could help improve the portfolio of Sabic. AkzoNobel is planning to buy Brazilian firm Polinox to gain hold of the organic peroxides manufacturing process.

Market Research Future (MRFR) recognizes the following companies as some of the key market Evonik Industries AG, Henkel AG & Co, ExxonMobil Corporation, Clariant AG, AkzoNobel NV, Lenzing AG, BHS Specialty Chemicals, Lanxess AG, BASF SE, Ashland Inc., Solvay SA, KGaA and DowDuPont, and Others.

Specialty Chemicals Market Segmentation:

The global specialty chemical market can be segmented by source and type.

A detailed segmental analysis is offered in the report based on source and type. By source, the global specialty chemicals market is segmented into crude oil, naphtha, ethane, propane, butane, wood and others. Among these, the naphtha segment accounts for a major share of the market revenue. It is forecasted to register a CAGR of 6.19% over the assessment period.

By source, the specialty chemicals market includes crude oil, naphtha, ethane, propane, butane, wood, and others. Among these, the naphtha segment accounts for a major share of the market revenue and is expected to record substantial CAGR during the forecast period.

By type, the specialty chemicals market comprises agrochemicals, flavor ingredients, fragrance ingredients, dyes & pigments, water treatment chemicals, personal care active ingredients, construction chemicals, surfactants, textile chemicals, polymer additives, bio-based chemicals, and others. The agrochemicals segment accounts for the most significant share of the market.

Specialty Chemicals Market Regional Analysis:

By region, the global specialty chemicals market has been segmented into Asia Pacific, North America, Europe, the Middle East & Africa, and Latin America. Asia Pacific is projected to lead the global market and is expected to hold a significant market share towards the end of 2023. The factors responsible for aiding market proliferation in the region include thriving agrochemicals industry, the presence of fast-developing economies, increasing demand from the automobile industry, etc. Furthermore, the relaxations in regulations by the governments catalyse the expansion of the regional market.

Europe and North America are important growth pockets and are likely to remain highly lucrative markets during the forecast period. The presence of key players in the regions is projected to complement the expansion of the markets. Meanwhile, Latin America and the Middle East & Africa are estimated to hold the least share of the specialty chemicals market. However, Middle Eastern country-level markets such as Qatar, U.A.E, Dubai, etc. and Latin American country-level markets such as Mexico and Brazil resonate strong growth opportunities.

Specialty Chemicals Market Table of Content:

1 Executive Summary

2 Market Introduction

3 Research Methodology

4 Market Dynamics

5   Market Factor Analysis

Specialty Chemicals Market Table of Content to be Continue……,

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MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

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Paints and Coatings Market Regional, Business Opportunities, Risks, Driving Factors, Application and Top Manufacturers and Global Analysis and Forecast to 2023

Paints and Coatings Market Overview:

Paints and Coatings Market is projected to reach USD 190167.5 Million by 2023 end at a CAGR of 5.06% during the review period 2018-2023.

Paints & Coatings Market was USD 135542.6 Million in 2017 and is forecasted to grow at a healthy CAGR of 5.06% during the assessment period. Among various application industries, architectural segment accounted for the largest market share of 55.1% in 2017 with a market value of USD 78001.9 Million Dollar. Increasing use of paints & coatings in the residential construction activities is driving the growth of the architectural segment, which is expected to dominate the market during the forecast period.

The industrial segment accounted for 44.9% of the global market share with a market value of USD 63450.5 Million Dollar in 2017. The segment is estimated to grow at CAGR of 4.72% during the forecast period to reach USD 83662.7 Million Dollar by 2023 end due to growing demand for coatings from the automotive and general industrial segment.

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Paints and Coatings Market Dominant Players:

Paints & Coatings Market are 3M, Jotun Group, The Sherwin-Williams Company, TIGER Coatings GmbH & Co. KG, Vitracoat America, Dai Nippon Toryo Co., Ltd, Kansai Nerolac Paints Limited, Diamond Vogel, Hentzen Coatings, Inc., Berger Paints India Limited, National Paints Factories, Axalta Coating Systems Ltd, Guangzhou Kinte Paints & coatings, and AkzoNobel N.V among others.

Paints and Coatings Market Segmentation:

By product type, the market for paints and coatings has been segmented into water based and solvent based, powdered and UV. The stringent regulations governing the paints and coatings market will push the demand for water based and solvent based products.

By applications type, the market is segmented into architectural, industrial and marine. The architectural segment is set to witness amplified demand due to the growth of the residential sector. The growth demonstrated by the industrial segment can be ascribed to the rapid developments in industrialization.

Increasing investment by key industry participants to introduce cost-effective, efficient, products linked with incising expansion and acquisition market strategies complementing global market growth. Paints & coatings are largely applicable in automotive, construction, industrial applications. Automotive industry set to uplift consumption of paints, s they are used as dual purpose of protection as well as decoration. Increasing adoption of enamel paints to reduce environmental impact is increasing year by year and it is expected to drive global demand. As per WPCIA, Asia Pacific is the most promising paints & coatings market, and it is expected to surpass 23.1 Million KT in terms of volume by leading global market.

Paints and Coatings Market Regional Analysis:

By region, the market has been segmented into North America, Europe, Asia Pacific, and, Rest of the World (RoW). The Asia Pacific market will captivate notable share in market control and will retain its dominance over the projection period. The key factor contributing towards the expansion of the market in this region is a boom in the residential sector. The expenditure in the residential sector rose at a steep rate of 10.5% in India, outshining China which demonstrated a rise in the price at a rate of 9.6% from 2017 to 2018. The major contributions will be accounted by countries such as India, China, Vietnam, Indonesia, etc. that would generate most of its profits from the automobile industry. The prominent players of the automobile industry are shifting their manufacturing bases to the Asia Pacific due to cheap labor, lower cost of raw materials, etc. which will open avenues for accelerated demand for paints and coatings.

The market in North America is expected to grow in spite of strict regulatory laws implemented by the government. The demand for paints and coatings in North America market will come as a response to the growing demand for residential houses and its renovation. The concentration of established corporate houses dealing in paints and coatings in the region can also be credited for the growth of the market. The growth rate of 3% will be registered in the North America region.

Paints & Coatings Market Table of Content:

1 Executive Summary

2 Market Introduction

3 Research Methodology

4 Market Dynamics

5 Market Factor Analysis

Paints and Coatings Market Table of Content to be Continue…….,

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MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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Phenolic Resins Market Opportunities, Development Factors, Profiling Major Players, Analysis of International Industry with Growth to 2023

Phenolic Resins Market Overview:

Phenolic resins are synthetic polymers which are formed by step-growth polymerization. They are known for their outstanding heat resistance and belong to the category of thermo set resins. Phenolic resins find their application in a myriad of industrial products. Phenolic resins are used in molding, insulation, laminated veneer lumber, laminates, sand binders, coatings, foams, abrasives and others. They are widely used as wood adhesives owing to high bonding strength, heat resistance, excellent water resistance and chemical stability.

Growing demand of these applications has increased the production of phenolic resins to meet the current market demand. Also, phenolic resins are used in flame retardant which is very crucial for automobiles and aircrafts. Owing to these factors, the global phenolic resins market is expecting a potential demand.

Phenolic Resins are used in flame retardant which is very crucial for automobiles and aircrafts. Owing to these factors, the global phenolic resins market is expecting a potential demand.

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Phenolic Resins Market Key Players:

The leading market players in the global phenolic resins market primarily include Hitachi Chemical, Kolon Industries, BASF, Mitsui Chemicals, DIC Corporation, SI Group, Georgia Pacific Chemicals, Sumitomo Bakelite and others.

Phenolic Resins Market Segmentation:

Phenolic resins market has been segmented based on types and applications. By types, the market has been segmented into novolacs and resoles and by applications, the market has been segmented into automobiles, construction, wood adhesives, laminates, molding and others.

The ongoing market trends of phenolic resins market and the key factors impacting the growth prospects are elucidated. With increase in the trend, the factors affecting the trend are mentioned with perfect reasons. Top manufactures, price, revenue, market share is explained to give a depth of idea on the competitive side.

Each and every segment type and their sub types are well elaborated to give a better idea about this market during the forecast period of 2018 to 2023 respectively.

Phenolic Resins Market Regional Analysis:

The North America market for phenolic resins is estimated to propel owing to increased industrial activity, rebounding housing activities, and developing applications of phenolic resins in the motor vehicle market in the region. Asia-pacific market for phenolic resins is expected to grow considerably during the forecast period owing to ongoing industrialization and rapid constructional and infrastructural activities in developing economies.

Phenolic Resins Market Competitive Landscape:

The global market for phenolic resins is highly competitive and fragmented with a large number of players operating in the industry. Hitachi Chemical, BASF, DIC Corporation, Georgia Pacific Chemicals, Kolon Industries, Mitsui Chemicals, SI Group, Georgia Pacific Chemicals, Sumitomo Bakelite and others.

Phenolic Resins Market Table of Content to be Continue……,

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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Global E-bike Market | Growth, Trends and Forecast Till 2025

Bharat Book Bureau Provides the Trending Market Research Report on “E-bike Market by Class, Battery Type (Lithium-ion, Lithium-ion polymer, Lead Acid), Motor Type (Mid, Hub), Mode (Throttle, Pedal Assist), Usage, and Region (Asia Pacific, Europe, North America) – Global forecast to 2025” under Heavy Industry category. The report offers a collection of superior market research, market analysis, competitive intelligence and industry reports.

Increasing concern about emission and traffic congestion will boost the demand for the e-bike market

Global E-Bike Market is estimated to be USD 21.1 billion in 2018 and is projected to reach USD 38.6 billion by 2025, at a CAGR of 9.01%. Many countries across the globe are facing the problem of traffic congestion, especially in crowded cities. The population of vehicles is increasing day by day, rendering the existing road infrastructure insufficient. Traffic congestion affects each individual’s personal and professional lives. As a result, governments and civic bodies are taking steps to reduce traffic congestion.

Many cities across the world are now actively promoting the use of electric bicycles as a mode of transportation in cities. Electric bicycles take up the same amount of space as a normal or traditional bicycle. The use of e-bikes can reduce the number of cars on the road and result in fewer traffic jams.

Increasing urbanization is one of the key drivers for the e-bike market. Urban population throughout the world is increasing rapidly. According to a UN report, 66% of the world population would reside in urban areas by 2050. Hyper-urbanization in some countries is hampering city traffic by increasing traffic congestion, delays in movement, parking issues, and high travel cost.

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Class-III segment is estimated to be the fastest growing segment during the forecast period

The class-III e-bike segment is estimated to be the fastest growing segment of the global e-bike market. Class-III e-bikes, which are also known as speed pedal-assisted electric bicycle, provide assistance only when the rider is pedaling and stop providing assistance when the bicycle reaches 28 mph. These e-bikes are allowed on roads, adjacent bike lanes, or private property due to their higher speed than the other two classes, i.e. class-I and class-II. These e-bikes are expected to help replace cars in many cities. Hence, class-III e-bike segment is expected to be the fastest growing market during the forecast period.

Class-I segment is estimated to be the largest market, in terms of value.

Class-I e-bikes are anticipated to hold the largest share of the e-bike market. Class-I e-bikes provide assistance only when the rider is pedaling and stop providing assistance when the bicycle reaches 20 mph. This type of e-bike can operate on any paved surface. Also, class-I e-bikes are compatible with e-bike laws of most of the countries. Thus, class-I e-bikes are expected to witness incremental growth during the forecast period.

Asia Pacific is estimated to be the largest growing market for e-bikes during the forecast period.

The Asia Pacific region is estimated to be the largest e-bike market in 2018 and is expected to maintain its leading position during the forecast period. The region comprises some of the fastest developing economies of the world such as China and India. China, which is the largest market in the Asia Pacific, holds about 98% market share of the region. China’s e-bikes have gained popularity in the European market due to their good quality and technological edge. Most of the Asian economies have recognized the growth potential of e-bikes and, hence, are taking several initiatives to attract major OEMs to manufacture e-bikes in their domestic markets. For instance, the Government of India announced financial support and a scheme called Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME). Under the scheme, there is a subsidy of up to INR 22,000 for electric scooters/e-bikes. Government promotions and schemes have led to an increase in sales of electric two-wheelers over the years.

The study contains insights from various industry experts, ranging from component suppliers to tier 1 companies and OEMs. The break-up of the primaries is as follows:

• By Company Type: Tier 1: 46%, Tier 2: 27%, OEM: 27%

• By Designation: C level: 46%, D level: 36%, Others: 18%

• By Region: North America: 18%, Europe: 27%, Asia Pacific: 55%

Major players profiled in the report are:

• Yamaha Motor Corporation (Japan)

• Giant Manufacturing Co., Ltd (Taiwan)

• Accell Group N.V (Netherlands),

• Aima Technology Group Co., Ltd (China)

• Yadea Group Holdings Ltd (China)

• Pedego Electric Bikes (US)

• Merida Industry Co. Ltd (Taiwan)

• Trek Bicycle Corporation (US)

• Specialized Bicycles (US)

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