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Category: Automotive & Transportation (Page 1 of 17)

Double Sided Tape Market Size is projected to reach 13.15 Billion USD By 2023

 Double Sided Tape Market is estimated at USD 9.41 Billion in 2018 and is projected to reach USD 13.15 Billion by 2023, at a CAGR of 6.93% from 2018 to 2023. The increasing use of double sided tapes in various applications, such as electrical & electronics, building & construction, automotive, and paper & printing is driving the growth of the double sided tape market.

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Browse 163 market data Tables and 49 Figures spread through 183 Pages and in-depth TOC on “Double Sided Tape Market”

Based on resin type, the silicone segment is expected to grow at the highest CAGR during the forecast period.

The silicone segment is projected to grow at a higher rate than the other resin types because of its better adhesion properties. Silicone-based double sided tapes maintain adhesion over a larger temperature range and possess the ability to adhere to difficult surfaces. These factors are expected to drive the market for silicone resin-based double sided tapes during the forecast period.

Based on technology, the hot-melt segment of the double sided tape market is expected to grow at the highest CAGR during the forecast period.

The hot-melt technology segment is projected to witness the highest growth during the forecast period. Hot-melt double sided tapes is the fastest-growing class of double sided tapes in healthcare, aerospace, and wind and solar energy applications. These double sided tapes have an extreme rate of bond formation, which can translate into high production rates. In the US, the hot-melt technology is widely used in tape production by key players, such as 3M Company (US) and Intertape Polymer Group, Inc. (Canada).

Based on backing substrate, the paper/tissue segment of the double sided tape market is expected to grow at the highest CAGR during the forecast period.

The paper segment is projected to grow at the highest CAGR from 2018 to 2023 as it is cheaper and recyclable. Smooth or crepe paper with different elongation degrees and tensile strengths are used as a backing material for double sided tapes. The demand for double sided tapes in the paper & printing, electrical & electronics, healthcare, and packaging industries is expected to drive the demand for paper/tissue backing material.

The double sided tape market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period.

The double sided tape market in the Asia Pacific region is expected to grow at the highest CAGR during the forecast period, due to the rising demand for double sided tapes from emerging economies, such as India, China, South Korea, Vietnam, Taiwan, and Singapore. China is leading the market for double sided tapes in the Asia Pacific region. The growth of various end-use industries, such as automotive, electrical & electronics, and paper & printing, is projected to drive the demand for double sided tapes in China.

Key players operating in the double sided tape market include 3M Company (US), Nitto Denko Corporation (Japan), Tesa SE (Germany), Lintec Corporation (Japan), Intertape Polymer Group, Inc. (Canada), Avery Dennison Corporation (US), Shurtape Technologies, LLC (US), and Scapa Group Plc (UK).

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Diesel Exhaust Fluid Market | Latest Development and Market Trends By 2022

The increasingly stringent emission regulations are leading to the increased penetration of diesel vehicles with selective catalytic reduction (SCR) technology. Additionally, factors such as increasing average age of vehicles and miles driven are driving the growth of the diesel exhaust fluid aftermarket.

According to the MarketsandMarkets analysis, the Diesel Exhaust Fluid Market is projected to grow at a CAGR of 13.06% from 2017 to 2022, to reach USD 21.50 billion by 2022.

The emission regulations in the U.S. and Europe are considered most stringent in the world, in terms of emission limits. Hence, there has been significant development of emission control technologies for vehicles in these countries. In Europe, under the Euro III norms, the NOx emission level was set at 5.0 g/kWh, which then declined by around 92% to reach 0.4 g/kWh under Euro VI norms. Owing to strict targets set under Euro VI norms, OEMs and Tier-1 manufacturers are employing SCR technology in diesel vehicles. This technology helps in reducing NOx from exhaust gases and keeps the environment safe from harmful pollutants. In the U.S. and Canada, SCR has been employed in medium- and heavy-duty vehicles from 2007. In 2010, the Environmental Protection Agency (EPA) laid down regulations, which led to the increased application of SCR in the trucks segment. The heavy trucks segment is the main contributor to the diesel exhaust fluid aftermarket. However, pickup trucks, sport utility vehicles (SUV), and diesel passenger cars are expected to drive the diesel exhaust fluid aftermarket.

In the off-highway diesel exhaust fluid market based on power output, the market for 80-100 HP power output construction equipment is anticipated to grow at the highest CAGR during the forecast period. The sales of construction equipment in the 80-100 HP power output segment is the highest. Asia-Oceania is estimated to be the fastest growing diesel exhaust fluid aftermarket owing to factors such as increasing vehicle sales in the region. According to MarketsandMarkets analysis, the total vehicle parc in China, India, and Japan is projected to reach 212.5 million units, 40.7 million units, and 79.5 million units, respectively by 2022. Additionally, the increasing implementation of emission standards in these countries is expected to boost the penetration of SCR in diesel vehicles. Thus, these countries are expected to boost the diesel exhaust fluid aftermarket in the region.

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The passenger car segment of the diesel exhaust fluid OE market is estimated to grow at the highest CAGR during the forecast period. The growth can be attributed to increasingly stringent emission laws such as Euro 6 that have reduced the permissible NOx limit to the extent that passenger cars also need to be fitted with SCR. In the diesel exhaust fluid aftermarket, the pumps supply mode segment is projected to witness significant growth during the forecast period due to various initiatives by government bodies to improve the infrastructure of DEF pumps and ensure the availability of DEF for long haul vehicles.

Target Audience:

  • Diesel exhaust fluid suppliers
  • Raw material (urea & nitrogen) suppliers
  • Automotive OEMs
  • Distributors and suppliers of diesel exhaust fluid
  • Industry associations and experts

SCR catalyst and 80-100 HP segment to drive the growth of Diesel Exhaust Fluid Market

SCR catalyst

The SCR catalyst segment is estimated to be the largest segment of the diesel exhaust fluid market (OE) during the forecast period, owing to the high price of the SCR catalyst as compared to other components used in selective catalytic reduction systems. An SCR catalyst has an average per unit price of USD 150- 175, while other components are much cheaper. Thus, the SCR catalyst component OE market is the largest in the study.

80-100 HP

The 80-100 HP segment is expected to be the largest segment of the diesel exhaust fluid market in construction equipment, as 80-100 HP construction equipment are the most widely used equipment type. Approximately 55%-60% of the construction equipment sold worldwide has a power output between 80- 100 HP. Furthermore, the penetration of SCR systems in 80-100 HP and >400 HP power output construction equipment is high, due to the high NOx emitted by them as compared to other equipment types.

The key factor restraining the growth of the diesel exhaust fluid market is the increased demand for electric vehicles. Electric vehicle technology is becoming affordable with time with government subsidies. Thus, this factor may result in the decline of the SCR market in the global automotive market. The advent of quick-charging batteries has further fueled the demand for these vehicles. Presently, the impact of electric vehicles on the Diesel Exhaust Fluid Market is negligible; however, electric vehicles are expected to create a moderate impact on the catalytic converter market over the next 10 years.

Recreational Boats Market – Strategic Assessment and Forecast Till 2027

According to the new market research report Recreational Boats Market by Boat Type (Outboard boats, Inboard boats/stern type, Sailboats/Yachts, Personal Watercraft, Inflatable), Power source, Activity Type (Watersports+Cruising, Fishing), Distribution Channel, and Region – Global Forecast to 2027″, published by MarketsandMarkets™, The Recreational Boats Market is estimated to be USD 26.7 billion in 2019 and is projected to reach USD 33.7 billion by 2027, at a CAGR of 3.02%. Rising disposable income has resulted in an increase in leisure spending such as the purchase of recreational boats. The increase in travel and tourism activities across the globe is also responsible for the growth of this market. The recreational boats can be used for carrying out different activities like watersports, sailing, cruising, and fishing.

Browse and in-depth TOC on “Recreational Boats Market”       

73 – Tables
34 – Figures
119 – Pages

Outboard boat type is the segment with the highest growth rate and this is expected to continue till 2027

Outboard boats have a lot of advantages over other boat types such as easy access to engine mounting, more spacious deck area, etc. This leads to benefits such as cost-effectiveness, easy maintenance, and easy serviceability with high reliability. Outboard boats are available with a wide range of engines (V6 to V8) depending upon the user preference. Outboard boats have a maximum share compared to other boat types and are expected to reach USD 11.3 billion in 2027.

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Cruising +Watersports activity is forecasted to be the largest activity type preferred by the boaters

It has been observed that regions like Asia Oceania and North America are preferring more adventure and sports activities and this is expected to continue to grow till 2027. These activities provide many health benefits like stress relieving, greater physical activity, etc. These activities are a preferred option for both the tourists as well as the locals across different geographies.

Asia Oceania is the largest market for recreational boats, followed by North America

Chinese economic growth is stable, and the transition to a service led economy is supporting the rising income of the people. Hence, the Chinese boating segment has promising growth. Other Asian countries such as Japan, Korea, and India showed promising growth during 2017-2018 and will continue until 2027. The Asian market is the production hub for the European and North American manufacturers. In Australia and New Zealand, local demand for foreign-made boats has been seen rising because the domestic manufacturers are struggling to compete with the international players. Maximum imports were led by inboard boats from the US, the UK, and Italy and outboard boats from the US and France. Germany is exporting sailboats to Australia and New Zealand.

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The key players in Recreational Boats Market are Brunswick (USA), Azimut Benetti Group (Italy), Sunseeker International Ltd (UK), Groupe Beneteau (France), Marine Product Corporation (USA), Bennington Marine LLC (USA), Bavaria Yachtbau (Germany), Godfrey Pontoons Group (USA), Lund Boats (USA), Tracker Boats (USA), Ranger Boats (USA) Catalina Yachts (USA), Ferretti Group (USA), Mahindra Odyssea (India), Hobie Cat Company (USA)

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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MarketsandMarkets™ INC
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Global Fuel Tank Market – Study and Analysis Research Report Forecast to 2021

Market growth is primarily driven by increasing vehicle production across the globe and the rising demand for lightweight automotive solutions. Additionally, developed regions such as Europe and North America have introduced stringent evaporative emission norms, which have accelerated the demand for plastic fuel tanks in these regions.

The overall Fuel Tank Market is expected to grow from USD 13.2 billion in 2017 to USD 17.38 billion by 2021, at a CAGR of 5.58% from 2016 to 2021.

The fuel tank is a container or reservoir to carry the fuel used by the vehicle. Fuel is stored in the tank and is supplied to an engine through a fuel pump. Apart from the fuel tank, there are also other tanks that are equipped in a vehicle depending on the requirement, namely, SCR and CNG tank. The selective catalytic reduction is an advanced emission control technology that injects a liquid reductant into the exhaust stream of the diesel engine. This liquid agent is generally called diesel exhaust fluid (DEF). The DEF is carried in a tank called the SCR tank located under chassis or frame of a vehicle. CNG can be used in place of gasoline or diesel fuel in automobiles. The tank in which compressed natural gas is stored is known as CNG tank.

Asia-Oceania is also estimated to be the largest market for automotive fuel tanks during the forecast period. This can be credited to the presence of countries such as China, which is the largest vehicle producer in the world, and India, which is emerging as a key automobile production hub for OEMs. Furthermore, the region is the largest vehicle producer in the world; this trend is expected to continue during the forecast period.

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The 45 L–70 L segment of the automotive fuel tank market is estimated to account for the largest market share, in terms of value. This can be attributed to the high installation rate of fuel tanks in the 45 L–70 L range. Fuel tanks falling under this range find application in both, passenger cars and light commercial vehicles (LCVs). Asia-Oceania is estimated to be the largest market for 45 L–70 L fuel tanks, owing to the high demand for mid-segment passenger cars in the region.

Target Audience:

  • Manufacturers of automotive fuel tanks
  • Raw material suppliers for automotive fuel tank manufacturers
  • Traders, distributors, and suppliers of automotive fuel tanks
  • Research institutes and government organizations
  • The automobile industry as an end-user industry and regional automobile associations

High-density polyethylene fuel tank market is estimated to be the largest market during the forecast period

High-density polyethylene (HDPE) is the key component of the plastic fuel tank. The global demand for HDPE is very high, owing to the considerable demand for plastic fuel tanks. The primary advantages of the plastic fuel tank are that it is anti-corrosive, lightweight, flexible, and impact-resistant. HDPE market is estimated to be the largest owing to their high penetration in developed regions such as North America and Europe. The changing preferences of buyers and the increasing technology adoption rate in Asia-Oceania have accelerated the demand for HDPE fuel tanks in the region.

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Weigh-In-Motion System Market Opportunities, Challenges & Entry Strategy.

According to the new market research report Weigh-In-Motion System Market by Type (In-Road, Bridge Weigh, Onboard), Vehicle Speed (Low, High), Component (Hardware, Software & Services), End-Use Industry (Highway Toll, Oil & Refinery, Logistics), Sensors, function and Region-Global Forecast to 2026″, published by MarketsandMarkets™, The Weigh-In-Motion System Market is estimated to be USD 913 million in 2019 and is projected to reach USD 1,656 million by 2026, at a CAGR of 8.89%.

The increasing government initiatives towards intelligent transportation system, increasing public-private partnerships (PPPs), increasing traffic congestion, and low cost compared with static weigh system are projected to drive the Weigh-In-Motion System Market.

Browse and in-depth TOC on “Weigh-In-Motion System Market”           

77 – Tables
51 – Figures
163 – Pages

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Europe and the Asia Pacific are estimated to be the largest and fastest growing market for the weigh-in-motion system, respectively

Europe is estimated to be the largest Weigh-In-Motion System Market during the forecast period due to increased freight traffic and free movement of goods between European countries, which have increased traffic in national and international highways in toll plazas. WIM systems are used to detect overweight vehicles without disturbing the traffic flow. The Asia Pacific WIM system market is estimated to be the fastest growing market because of increasing investments in the intelligent transportation system, smart traffic management, and smart cities, especially in China and India.

The low-speed WIM system segment is estimated to be the largest Weigh-In-Motion System Market, by vehicle speed

The low-speed WIM system segment is estimated to dominate the Weigh-In-Motion System Market. The low-speed system offers various advantages such as low operating cost, low maintenance, ease of installation, and higher accuracy than the high-speed weigh-in-motion systems. Low-speed systems are installed in logistics centers, oil & refinery, agriculture, and mining industries. According to inputs from industry experts, industries such as mining and agriculture are potential markets for the low-speed WIM system. In the Asia Pacific and North America, most of the highway tolls are equipped with low-speed weigh-in-motion systems. The key reason behind the high adoption rate of a low-speed weigh-in-motion system in the Asia Pacific region is the low cost compared to the high-speed weigh-in-motion system. In North America, regularity authorities do not allow a system with lower accuracy.

The onboard system is expected to grow at the highest CAGR in the Weigh-In-Motion System Market during the forecast period

The onboard weigh-in-motion system is fitted to the vehicles, rather than to the road. This system can transfer vehicle weight information at any point of time from a moving vehicle to the data storage system. As of 2019, the onboard system had a very less market share. However, it is expected to be the fastest growing market during the forecast period. According to insights from industry experts, the onboard system is the future of the WIM system market. The onboard weigh-in-motion system has numerous advantages over other systems. It has low cost, requires less maintenance, and can work at any vehicle speed.

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Some of the key players in the Weigh-In-Motion System Market are Kapsch TrafficCom (Austria), Q-Free (Norway), METTLER TOLEDO (US), Avery Weigh-Tronix (Illinois Tool Works) (US), TE Connectivity (Switzerland), International Road Dynamics (Quarterhill) (US), Kistler (Switzerland), TransCore (Roper Technologies) (US), Axis Communications (Sweden), and EFKON (Austria).

Browse Related Reports:

Artificial Intelligence in Transportation Market by Machine Learning (Deep Learning, Computer Vision, Context Awareness, NLP), Application (Semi & Full-Autonomous, HMI, Platooning), Offering (Hardware, Software), Process, and Region – Global Forecast to 2030

Truck Platooning Market by Type (DATP, Autonomous), Systems (ACC, AEB, FCW, GPS, HMI, LKA, BSW), Sensor (Lidar, Radar, Image), Services (Telematics- ECall, ACE, Tracking, Diagnostics, & Platooning- Pricing, Match Making), Region – Global Forecast to 2030

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/weigh-in-motion-market.asp
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Automotive Remote Diagnostics Market will reach at a CAGR of 18.0% during 2018-2028

According to a new study of Future Market Insights (FMI), the automotive remote diagnostics market is projected to record a CAGR of nearly 18% through 2028. Growth of the automotive remote diagnostics market will continue to remain bolstered by a plethora of factors, which range from increasing focus of automakers on reducing maintenance cost & downtime and growing integration of IoT, to the emergence of connected car eco-systems in vehicles.

Automotive remote diagnostic solutions have gained pervasive popularity among automakers and vehicle owners alike, in light of the value-added advantages of the technology. Reduced maintenance and service downtime, along with the identification of the bottlenecks beforehand, and enabler of on-point, efficient solutions, are some of the key benefits of the automotive remote diagnostics that are driving their demand.

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Additionally, attributes of the automotive remote diagnostics, beneficial for vehicle owners, in terms of identifying potential downturns, defects, and shortcomings of the vehicle in advance, and reducing the total time and cost spent during maintenance, are further expected to drive growth of the automotive remote diagnostics market.

The upward trend of vehicle electrification has had a massive and direct influence on growth of the automotive remote diagnostics. Additionally, recent rise in the connected-car ecosystem, along with the proliferation if IoT and connected devices in the automotive industry, will continue to favor growth of the automotive remote diagnostics market in the foreseeable future.

Automotive Remote Diagnostics Equipment to Account for Leading Market Shares

While equipment and software both form integral parts of an automotive remote diagnostics, the study finds that equipment will continue to account for leading shares of the market, owing to associated periodical replacement and maintenance activities. On the other hand, software are installed in the equipment as first fit, and are renewed on the basis of subscriptions. This further alludes high-growth potential of software solutions in the automotive remote diagnostics market.

Automotive remote diagnostics market will continue to witness robust gains from the light commercial vehicles, compared to other vehicle categories. As the logistics and transportation sector gains increased traction, vis-à-vis growth of the ecommerce and warehousing industry, light commercial vehicles are expected to record relatively greater sales compared to their past statistics. This will create significant opportunities for players in the automotive remote diagnostics market.

Automotive remote diagnostics are expected to witness high demand in vehicle system & component access, and health tracking & diagnosis applications. These application requirements are comparatively higher in commercial vehicles, and with the rise in construction and infrastructure development activities, demand for the commercial vehicles, and in turn the automotive remote diagnostics will also rev up in the near future.

Europe to Remain Most Attractive Market for Automotive Remote Diagnostics

The study finds that Europe will continue to be the most lucrative market for automotive remote diagnostics, trailed by North America. The economic vigor and robust infrastructure development activities in the region allude at significant sales of commercial vehicles, along with passenger cars, which in turn continue to drive demand for advanced solutions such as the automotive remote diagnostics. According to the study, East Asia will also remain an attractive market for automotive remote diagnostics, with sales projected to grow at a CAGR of over 20% through 2028.

The automotive remote diagnostics market continues to remain consolidated, with leading players accounting for bulk shares of the market. Additionally, the complexity and extensive R&D investments required to provide a total solution continue to present significant entry barriers to new market entrants, which further underpins the supremacy of leading players in the automotive remote diagnostics market.

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Key players operating in the automotive remote diagnostics market include Robert Bosch GmbH, Tech Mahindra Limited, Continental AG, OnStar LLC, Vector Informatik GmbH, Transics, Verizon, ACTIA Group, Softing AG, Magneti Marelli S.p.A., IBM, and Harman International, among others.

Automotive Performance Tuning and Engine Remapping Services Market is Projected to Grow at CAGR of 6.0% by 2029

Witnessing an average 5.5% annual increase in the revenues, the global demand for automotive performance tuning and engine mapping services is likely to expand at a healthy pace in 2019. As indicated by a new research intelligence of Future Market Insights (FMI), the market for automotive performance tuning and engine mapping services will possibly attain its peak growth rate – reflecting a promising outlook for the course of coming years.

According to FMI’s analysis, increasing inclination toward high performance gains in vehicles will be the key influencer, boosting revenues of the automotive performance tuning and engine remapping services market. However, the report opines that the global landscape of automotive performance tuning and engine remapping services is a low-volume market, as the performance tuning and engine remapping services are highly specialized and involve only a selective range of vehicles.

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Moreover, inadequate awareness about performance tuning and engine remapping services among a considerable customer population will also continue to position it as a niche market over the next few years.

Passenger Vehicles & LCVs Have Taken over Racing Cars

Surpassing traditional applicability in auto racing, automotive performance tuning and engine remapping services have been gathering impressive traction in the passenger and commercial vehicles sectors. The report points to prominent application of automotive performance tuning and engine remapping services in passenger vehicles and LCVs, accounting for nearly 70% share of the overall global demand. While racing applications seem to be limited, FMI’s analysis suggests that the key focus area of automotive performance tuning and engine remapping service providers as well as customers will be to attain fuel economy.

With more than half of the total revenues generated through automotive performance tuning and engine mapping services, the report envisages that diesel vehicles will continue to attract higher value to the market, over their petrol counterparts. While a majority of customers seek services for the stage I of tuning, FMI’s research finds that OBD (on-board diagnostics) ports will remain a preferred tuning method used by service providers.

Led by the UK, Europe to Remain Global Hub for Vehicle Performance Tuning

Europe, the base for a large number of automotive performance tuning and engine remapping service providers, is likely to hold a prominent share in global market. The report also attributes Europe’s market primacy to the relatively high number of enthusiasts opting for performance tuning and engine remapping services for their personal vehicles, particularly in the UK.

Besides Europe, North America, East Asia, and Oceania, particularly the countries such as the US, China, and Australia will be the lucrative regional pockets for investors in the automotive performance tuning and engine remapping services industry. On the other side, a sizeable chunk of South Asia’s commercial vehicles sector is inclining toward achieving high performance, creating potential opportunities for automotive performance tuning and engine remapping services providers in the region.

Vendor Insights: Automotive Performance Tuning and Engine Remapping Services Market

The global automotive performance tuning and engine remapping services market is a fragmented landscape, with prominent market participants accounting for less than 6% share of the overall market. The automotive performance tuning and engine remapping services market is dominated by small-scale players operating at a country level. The market thus has a limited number of globally operating players.

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The report has covered in-depth company profiles and their recent strategic developments, intending to help participants understand the overall competition scenario. Some of the profiled companies include Quantum Tuning, RS Tuning, Turbo Dynamics, EcuTek Technologies Ltd., Roo Systems, ABT Sportsline GmbH, Tuning Works Inc., Shift Performance, Layton Remaps, and TuneOTronics among others.

Dust Extractors Market Estimated to Exhibit CAGR of 6.0% by 2029

Global sales of dust extractors exceeded the revenues worth US$ 1 billion in 2018, which are projected to witness an average Y-o-Y growth of around 6%, in 2019 and ahead. As envisaged by a new research intelligence outlook of Future Market Insights (FMI), dust extractors will enjoy significant gains in the low dust class, accounting for a substantial incremental opportunity over the course of coming years.

While adoption of dust extractors in medium dust class will retain a dominant share over that in the low dust class in the long run, the latter is highly likely to outpace former owing to the impressive growth of commercial building sector. Sales are likely to experience a considerable hike in the forthcoming years, as the demand from major end-use sectors, particularly commercial building and offices, is on a constant rise.

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Construction sites, though envisaged to remain key demand generator in the dust extractor space, will be closely trailed by the wood working segment. The report positions wood working applications of dust extractors market  as an important demand contributor to the market and projects a healthy rate of growth for the dust extractor demand in wood working segment.

DYI Applications Boosting Potential of Online Sales Channels

Growing number of projects in the commercial space construction landscape will remain a significant booster for the demand growth of dust extractors at a global level. Moreover, noteworthy increase in the number of DIY applications, strongly backed by flourishing online retail channels, has been cited in the report as important factors impacting the growth of dust extractor market in years to come. The report has attributed growth of DIY applications segment to the progress of home improvement industry, observed in the recent past.

In the light of success registered by leading online distributors of DIY vacuum cleaners such as Amazon, EBay, Alibaba, and ShopClues among others, a number of organizations are strategizing their entry to the E-commerce space. The report projects that power tools sales are likely to emerge as a popular strategy among players, which are stepping in the online retail world for DYI vacuum cleaner sales. Growing consumer preference for online channels while shopping DIY application tools is instrumenting accelerated online sales of dust extractors, as per the report findings. However, high price point associated with high-capacity vacuum cleaners will continue to restrain the accelerated growth of dust extractor market in the long run.

In line with the potential competitive edge offered by dust extractor models with compact dimensional design and light weight, key manufacturers are following the growing trend of high R&D investments in innovative product launches.

Japan to Rise as the Industry’s Manufacturing Hub

Europe is envisaged to emerge as a highly profitable region for the prominent consumers of dust extractors, towards the end of the forecast period. Currently, the US and Germany represent the most prominent countries generating significant demand for dust extractors, subsequently benefiting the markets in North America and Western Europe, respectively.

According to the report, the demand for dust extractors in developed regions will continue to be favorably influenced by the stringent regulatory framework of regional governments regarding the usage of vacuum cleaners.

Furthermore, Japan is also anticipated to be a lucrative regional market for dust extractors, in terms of value and volume. FMI’s analysis also depicts that Japan is currently reflecting the potential to develop into the new manufacturing hub. MEA is also projected to remain a prominent regional market for dust extractor sales, which has been primarily attributed to the robust growth of key end-use sectors across the region.

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Dust Extractor Market: Vendor Landscape

The dust extractor market is largely fragmented, as a result of the strong presence of a large number of local and established players. The report provides details of some of the key players in the global dust extractor market, such as Milwaukee Tool, Alfred Kärcher SE & Co. KG, Makitra Corporation, Hilti Group, Robert Bosch GmbH, DeWalt (acquired by Stanley), Metabowerke GmbH, Panasonic Corporation, Nilfisk Inc., Tennant Company, Numatic International Ltd., Electrostar GmbH (Starmix), Bisell Inc., Fiorentini / Clemas & Co., Verimark (Pty) Ltd., and C & E Fein GmbH.

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