dicembre 2023 - Business NewsWire

Philippines Micromobility Market Will Reach USD 13,899.7 Million by 2030

The Philippines micromobility market is projected to be worth USD 13,899.7 million by 2030, growing at a CAGR of 158.6%, according to P&S Intelligence.

This growth can be ascribed to the growing requirement for decreasing air contamination and transportation price, thriving demand for well-organized micromobility facilities for first- and last-mile connectivity, and decreasing battery cost.

In recent years, the e-mopeds category, held the largest revenue share in the Philippines micromobility industry, on the basis of vehicle type. The same is also projected to advance at the highest development rate in the coming few years. this can be credited to the rising use of e-moped services because of their cost-effectiveness in nature.

The launch of swappable batteries has augmented the fleet uptime significantly, while also decreasing the working price, which has indeed taken the micromobility market in the Philippines toward success. Moreover, with the utilization of swappable batteries, the income generation of the e-scooter business can be enhanced, because such batteries not only cut a huge chunk of the charging prices but also advance the vehicle obtainability.

Additionally, numerous electric two-wheeler builders are also concentrating on fitting battery-swapping stations for commercial and public use. For example, in recent years, Komaihaltec Inc., Honda Motor Co. Ltd., and Honda Motor Co. Ltd., together introduced a demo project with a target to generate power with wind power in Romblon Island, the Philippines.

Additionally, micromobility companies are accepting new-age lithium-ion batteries, as such batteries are eco-friendlier, providing lessen charging time and augmented running economy than lead–acid batteries. The government is also helping lithium-ion battery businesses by providing inducements and tax credits. Thus, lessening the cost of lithium-ion batteries would remain to aid the micromobility industry in the Philippines in the coming years.

Hence, the growing requirement for decreasing air contamination and transportation price, thriving demand for well-organized micromobility facilities for first- and last-mile connectivity, and decreasing battery costs are the major factors propelling the Philippines micromobility market.

Swift Solutions: Navigating Trends in the Turkey Micromobility Market

Concepts of micro mobility and shared ecosystems are permeating human lives more and more frequently each day. Initiatives to hire electric scooters have proven very popular in Turkey.

The main drivers of the expansion of micromobility market in Turkey are the need to preserve the environment, an effective short-distance transport system, and the growing need to lessen traffic congestion. The sector will reach $14,711.1 million in 2030 as a result of the aforementioned causes.

Maintenance of a Green Environment Is Required

Environmental contamination is one of the main problems in Turkey. The amount of air pollution in the entire nation exceeds WHO recommendations, which causes fatal illnesses. Approximately 27% of the nation’s overall health spending is typically allocated to treating illnesses brought on by air pollution.

The government is using micromobility to lower pollution levels. The wide availability, cheap cost, ease of use, and environmental friendliness of the micromobility system have all contributed to its exponential rise.
Need to Reduce Traffic Congestion Is Driving Market Expansion

Istanbul is now ranked second among 220 cities worldwide in terms of traffic congestion, according to research by the transportation analytics company INRIX. The count of commuters is growing as a result of fast urbanization, which puts additional strain on the current transportation infrastructure.

People frequently pick their own automobiles when there isn’t an effective form of public transit, which complicates matters and increases traffic congestion.

Thus, micromobility improves connection to public transportation, lowers the dependency on private automobiles, and also contributes to a reduction in greenhouse gas emissions. It is regarded as a cutting-edge transportation plan that has shown to have significant promise for reducing congestion.

E-Scooters Dominated Market due to Their Extensive Fleet

Based on vehicle type, the e-scooter category represented the greatest value share in the Turkish micromobility industry.

In the coming years, this category is likewise anticipated to continue experiencing a similar trend. This is mostly attributable to the enormous fleet that e-scooters have, which leads to their high market availability when opposed to other vehicle types.

APAC Is Dominating Acetyls Market

The global acetyls market is experiencing growth and is projected to reach USD 43,337.36 million by 2030, growing at a CAGR of 5.58% during the projection period. This development can be credited to the growing utilization of these chemicals in many sectors, like food & beverages, paints & coatings, and construction also increasing the requirement for medicine and the resulting high research and development expenditure, and supportive government guidelines for the pharma industry.

In recent years, the Acetic acid category dominated the industry, and the same is projected to lead the industry in the future as well. This growth can be credited to its extensive usage in the making of plastics and cosmetic items and as a dissolver in organic and inorganic compounds.

Furthermore, the surging making of monochloroacetic acid,vinyl acetate monomer,buty acetate, and ethyl acetate boosts the acetic acid requirement. In addition, it is utilized to make polyesters, sealants, greases and sealants, and coatings all of which have a variety of applications in many industries, such as electronics, packaging, and automotive.

In recent years, the food and beverage category held the largest share of revenue in the acetyls market, responsible for around 25%. The category is also projected to dominate the market in the future as well. This sustained dominance can be credited to many reasons, such as the expanding consumer base in developing nations the growing standards of living, and the surging demand for polyester containers, plastic bottles, and similar packaging items, mainly driven by the growing packaged food industry. Furthermore, these chemicals find application as artificial flavoring agents and preservatives in food products.

In recent years, the APAC region dominated the market with the largest revenue share, and the region is also projected to be in the top position in the future as well. This can be credited to the vast populace and high-speed industrialization and urbanization in the region. Moreover, the growing purchasing power and rising living standards have allowed individuals to spend more on automobiles, processed food and beverages, furniture, housing, and electronic gadgets.

Hence, the growing utilization of these chemicals in many sectors, like food & beverages, paints & coatings, and construction also increases the requirement for medicine, and the resulting high research and development expenditure, and supportive government guidelines these are the major factors propelling the market.

Automotive Air Suspension Market Will Reach USD 10,805.66 Million by 2030

The automotive air suspension market will grow at a rate of 6.25% in the years to come, to reach a value of USD 10,805.66 million by 2030. This is because of the growing requirement of commercial automobiles accompanied by the comfort of the vehicle and safety which ultimately derive the requirement for the air suspension system specially in heavy vehicles.

Air suspension passenger cars have a better transportation capacity due to the fact that these components advance the level and grip the suspension as a whole.
The feel of an air suspension system might also be altered, giving drivers the opportunity of a softer ride for sailing down the highway or an uneven ride for improved handling on winding, tough roads.

Electronically controlled air suspension will grow the fastest at the rate of around 7% in the years to come. For giving height references for all 4 corners of the automobile, the electronically controlled air suspension furthermore has height sensors that are on the basis of measuring resistance in contact with the landscape.
The customers are preferring premium vehicle including superior components for getting the quality rides from their cars, leading OEMs to contain air suspension systems more often in their designs.

Requirement for air suspension systems is just seen in the sophisticated passenger car and in buses and trucks in the commercial vehicles.
Europe will have the fastest growth in the industry, in the coming years. This has a lot to do with the increasing requirement for comfortable public transit, which will improve the growth of the market in the years to come. France and Germany are the two major manufacturing hubs for the automotive stalwarts in the region.

People now demand more comfort and safety in the commercial vehicles all over the world, and this has a lot to do with the continuously increasing demand for automotive air suspension solutions in the years to come.

Powering Tomorrow: Battery Management System Market Dynamics

The value of the battery management system market stood at USD 7,177.5 million in 2022, and this number is projected to reach USD 26,797 million by 2030, advancing at a CAGR of 17.90% during 2022–2030.

This growth can mainly be credited to the growing demand for e-vehicles and the mounting use of electric batteries in consumer electronics.

The lithium-ion category had the largest market share, in 2022, as Li-ion batteries offer numerous benefits over other battery types, including better energy density, improved resilience, a longer lifespan, and lower maintenance needs.

Additionally, Li-ion batteries are green, as they comprise comparatively lower levels of poisonous heavy metals than other battery types, including lead–acid, and nickel–cadmium.

The modular topology category is all set to experience the fastest growth by the end of the decade. For most of the manufacturers, modular topology is ideal, as it offers considerable computational power and is safe to use, as it doesn’t require wide wire harnesses.

Modular topology is also appropriate for several functionalities, including energy storage systems, in industrial UPS, medical mobility vehicles, drones, and parts of electric vehicles.
In order to evade vehicle failure, such cells should be kept and regulated, creating the system a serious component in the e-vehicle design. The system regulates the battery’s performance, utilization, and safety. It also surges the battery lifespan and range of the vehicle.

Additionally, China dominates the APAC industry, as it is a central hub of automotive manufacturing. The national market is boosted by a surge in the production of batteries and automobiles utilized in vehicles. Also, China is a global dominator in the manufacturing of electrical equipment. This is projected to boost product demand.

Hence, the growing demand for e-vehicles and the mounting use of electric batteries in consumer electronics are the major factors contributing to the growth of the battery management system market.

Unveiling Growth: Dynamics of the Phosphoric Acid Market

The phosphoric acid market was USD 45,671.2 million in 2022, and it will grow at a rate of 4.1% in the years to come, to touch USD 63,186.8 million by 2030, as stated by a market research institution P&S Intelligence.

The diammonium hydrogen phosphate market will grow significantly in the years to come with a rate of about 5%, because of the growing need for manure to increase agricultural yields.

The growing urbanization calls for more food, thus there is more requirement for fertilizers and hence, the DAP industry is growing.
As per the FAO’s projections, cities will house around 70% of the population of the world by 2050, because of which the annual cereal production will require to grow at a drastic rate.

Agricultural-grade phosphoric acid had about 60% share in the recent past, therefore dominating the grade segment. The agricultural productivity in China will grow, backed by financial progress, which brings about an increase in the requirement for phosphate fertilizers.

To the south, in India, the production and consumption of chemical will grow considerably, powered by the increase in agricultural actions within the country and the development in the fertilizers export.

The APAC region dominated the phosphoric acid market all over the world, with in excess of 40% share, in 2022. This will grow the fastest and see a marked increase in the local production of the chemical in the years to come.

In the mainly agricultural economies in the region, the necessity for higher crop yields will escalate the requirement for fertilizers created from phosphoric acid. So, China and India will lead the phosphoric acid production as a result of their massive populaces, which will rise.

APAC Is Dominating the Industrial Safety Market

In 2023, the industry safety market amounted to USD 5,889.3 million and is set to grow at a compound annual growth rate of 6.3% between 2024 and 2030 reaching an estimated amount of USD 8,923.2 million by 2030.

The major factor for the industry development is the growing recognition of businesses of the importance of worker safety. Offering a safe workplace not only shields workforces but also fuels efficiency and drops working expenditures. Manufacturing settings are often linked to a range of occupational dangers, like equipment mishaps, chemical exposure, explosions, and building collapses.

Thus, a variety of security systems and tech are in high demand mainly because of the increasing knowledge regarding these risks and the requirement to reduce them.

As per the International Labour Organization, around 2.3 million employees globally lose their lives to workplace diseases and accidents per annum. This highlights the significance of safeguarding worker security in industrial atmospheres. Furthermore, to attain this aim, governments all over the world have put in place severe guidelines and rules, that industries must obey with, or risk fines, legal consequences, and status harm.

In 2023, the safety sensors category had the largest industry share, of 25%, and the category is also projected to experience a CAGR of 6.6% during the projection period. Compliance with security regulations and standards often comprises safety detectors as an important component. The utilization of safety detectors for danger discovery and danger mitigation is stimulated by regulatory establishments, such as the International Organization for Standardization and Health Administration, the Occupational Safety.

In the case of failure to comply with a specified requirement, safety interlock switches are primarily intended for blocking the transmission of electrical or control signals by machines and pieces of equipment. A few examples of action that could set them off include door opening, removing security guards, or pressing an emergency stop button. All components of safety interlocks shall be switches that reduce machine risk, protect staff from possible danger, and prevent unauthorized access.

APAC Is Dominating Polyphthalamide Resin Market

The global polyphthalamide resin market has garnered USD 1,522.3 million in revenue in 2023, and it is projected to rise at the rate of 6.4% from 2023 to 2030, to capture USD 2,320.6 million by 2030.

The development can be mainly credited to the increasing utilization of PPA resin as a substitute for metals in cars and the growing research and development expenditure. The material has numerous beneficial properties, like higher electrical and thermal tolerance, hygroscopicity, and high tensile forte. Other good mechanical and chemical properties of this material comprise semi-crystalline structure, opaqueness, and moisture resistance.

The glass-fiber-reinforced category grips the largest share as this variant is compressive, non-flammable, resilient to humidity and temp and does not bend effortlessly. Moreover, it is simply obtainable, and the electronics and automotive industries are extensively using it.

Furthermore, it provides great value for money and owns chemical resistance, which will, ultimately, drive the development of the industry in this category.

The material is utilized in a range of electrical and electronic components, like connectors, switches, sockets, and circuit breakers. The major advantages that make it perfect for such applications, and also electric cars, are good electric properties and flame resistance.

In 2023, the North American region had the second-highest position in the industry, with a worth of USD 0.3 billion. This can be credited to the increasing acceptance of EVs and progressive materials in a variety of applications.

In North America, the U.S. leads the industry, credited to the initiatives taken by the government for decreasing releases, the most prominent of which is the execution of strict guidelines on industries, aircraft, and automobiles.

The automotive sector is increasing because of the surge in disposable income. With this, the

sale of passenger cars endures to rise in advanced and emerging nations. Moreover, in the past few years, the market has seen a massive acceptance of progressive technologies as a result of the increasing rivalry among manufacturers.