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Why Are Commercial Vehicles Being Integrated with Autonomous Driving Features?

With the growth of the manufacturing and retail industries, an efficient means to transport goods from one place to another is becoming more important every year. Similarly, the burgeoning population, which the United Nations (UN) expects to touch 10.9 billion by 2100, is propelling the need for passenger transportation. With these factors, the number of large commercial vehicles, including trucks and buses, is rising. However, these vehicles are often part or cause of road accidents because they are slightly difficult to maneuver, and drivers aren’t always able to see what is behind them.

As a result, with the surging incidence of road accidents, which kill 1.35 million people each year, as per the World Health Organization (WHO), the need for making transportation safer is increasing. P&S Intelligence cites this factor while projecting an 8.2% CAGR for the autonomous commercial vehicle market during 2020 and 2030. It is now well known that most of the accidents are caused by humans themselves, and few due to machine/vehicle system error. As a result, in several countries, the adoption of functionalities that can aid the human driver or even completely replace them while driving has been mandated.

For instance, the National Highway Traffic Safety Administration (NHTSA) under the U.S. Department of Transportation has made the integration of electronic logging devices (ELDs) in all trucks necessary. Another among the most-popular systems in this regard is the advanced driver-assistance system (ADAS), which includes functionalities such as automatic emergency braking, anti-lock braking, adaptive cruise control, and automatic parking. Any vehicle with any of these functionalities is classified as a level 1 semi-autonomous vehicle, which is why more semi-autonomous trucks and buses than fully autonomous ones have been sold around the world till now.

Moreover, fully autonomous vehicles are not available for sale currently; they are still under the development and trial stage. Level-4 autonomous vehicles will be available in 2023 and level 5 variants only in 2025. On the brighter side, the current technological and regulatory landscape is quite conducive to the development of fully autonomous commercial vehicles. Two of the essential technologies for such vehicles — vehicle-to-vehicle (V2V) connectivity and vehicle-to-infrastructure (V2I) connectivity — have already been developed, and they are being integrated on a wide scale in passenger cars.

Similarly, an increasing number of countries are tweaking their laws and making accommodations for the operation of self-driving vehicles. For instance, since 2011, 29 American states have made regulatory provisions for such vehicles, which are also a priority for the European Union (EU). The major countries where fully autonomous vehicles are being tested or have been given the in-principle operational approval are the U.S., Germany, Canada, Spain, France, the U.K., Sweden, the Netherlands, and Italy.

Browse detailed report on Autonomous Commercial Vehicle Market Business Strategies, and Regional Outlook

Why Sale of Automotive Fuel Transfer Pumps Is Increasing?

For the majority of gasoline and diesel engines, a fuel pump of some sort is necessary. In the beginning, there was no need for a pump because gasoline could flow naturally to the carburetor from an internal fuel tank thanks to gravity.

When an engine has a fuel injector, fuel is transferred from the gas tank to the injector using electric fuel pumps. The application dictates that these pumps must deliver gasoline at high pressure (usually 30-85 psi) for the fuel injector to feed fuel into the engine.

Fuel pressure must meet specifications for the motor to run normally. The engine will run out of gasoline if the pressure is too low, which will cause it to misfire, hesitate, stall, or run lean. Gasoline waste and pollution in the fuel result from excessive fuel pressure, which also causes improper engine operation.

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PHEVs combine the benefits of electric motors and internal combustion engines. The preference for such vehicle types is expected to create a profitable opportunity for the expansion of the fuel transfer pumps market. This is because they feature a standard IC engine, in which fuel is transported from the tank by the pump and then injected into the carburetor or fuel injector.

Is a Mechanical Fuel Pump More Effective than an Electronic One?

An electric pump is necessary for various tasks and can handle several issues that cam-driven pumps cannot. However, mechanical pumps can deliver a sufficient fuel flow compared to comparably priced electric pumps.

Browse Full Report Automotive Fuel Transfer Pumps Market Size, Share, Trend Analysis Report

Europe Dominated the Grow Light Market

The size of the grow lights market was $1,481 million in 2021, and it will reach to $13,183 million by 2030, advancing at a growth rate of 28% in the years to come as per a report published by P&S Intelligence.

LEDs will be the most used in the years to come. This will be because of increase in the requirement of customers for energy-efficient and affordable grow lights and the increase in the count of government programs for promoting the use of LED drivers and lights.

Furthermore, the growing requirement for economical and durable horticulture lights in numerous countries and the increasing usage of such lights in new farming activities because of their appropriate intensity for plant growth and cost-effectiveness are the main reasons of the high requirement for products.

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Additionally, the need for retrofit installations is generally greater than the new ones because the latter needs lots a huge capital investment and a lot of time.

Vertical farming will have the fastest growth in the future in grow lights market with a growth rate of approximately of around 29.8%. This growth will be due the snowballing need for herbs and food, cultivated in vertically stacked layers; and the increasing count of such farms, particularly in developed countries, because of the lack of space required for setting up conventional farms.

The revenue share of the commercial greenhouses category was the largest in the recent past, and it will dominate the industry in the future as well.
Europe had the largest revenue share, of approximately 33%, and it will maintain its dominance in the near future too. This can be because of the significant use of LED lights to grow plants in commercial greenhouses and a large base of consumers.

APAC will grow the fastest by the end of this decade. This can be due to the rising rate of urbanization, increasing requirement for food, growing population, budding acceptance of new agri- technologies, and increasing emphasis on urban farming.

Browse Full Report Grow Lights Market Key Market Dynamics

The Global Forklift Market: Trends, Drivers, and Future Outlook

Rising significantly from 2017, the share of the e-commerce sector in the total global retail sales reached 14% in 2018. Further, by 2021, almost 17% of the total retail sales across the world are expected to be made through online shopping channels. This is because such platforms offer customers the price flexibility and fast delivery service they are looking for.

Like companies across various other sectors, forklift manufacturers are also subject to the ill-effects of the COVID-19 situation. Due to the ceasing of manufacturing activities, companies offering forklifts as well as their components would need to alter their strategies and come up with a more-efficient supply chain model. The ripple effects of the current shutdown in several countries are expected to be witnessed till at least the entire 2021.

Forklift Market Segmentation Analysis

During 2014–2019, class 5 forklift trucks generated the highest revenue in the industry, owing to their high popularity in emerging economies, such as China and India. They are preferred for heavy-lift applications, especially in places where the risk of tire punctures is high, as such vehicles have pneumatic tires. Their payload capacity is between 3,000 and 55,000 pounds (1,360 and 25,000 kg), which makes them suitable for heavy lifting.

The counterbalance bifurcation, under segmentation by product, dominated the industry in the past. These trucks have two forks at the front, and they are able to get quite close to the load to be picked and moved. They are designed for varying loads and conditions, which makes them popular for logistical operations.

During the forecast period, the higher value CAGR, of 3.4%, is projected to be witnessed by the electric bifurcation, on the basis of engine type. This is attributed to the rising concerns regarding the emission of greenhouse gases (GHG) from fossil-fuel vehicles. In addition, class 1, 2, and 3 trucks are pressed in lightweight lifting, for which electricity can easily provide the required power. Another reason for the increasing sale of electric forklifts would be the gradual decline in the cost of lithium-ion (Li-ion) batteries.

Presently, Asia-Pacific (APAC) is the most lucrative forklift market, due to the rapid growth in the automotive and retail industries in India, South Korea, Japan, and China. In addition, regional governments are implementing strict mandates for security and safety at the workplace, which is leading to the quick deployment of such trucks. In the years to come, the fastest rise in the adoption of forklift vehicles would be seen in the Latina America, Middle East & Africa (LAMEA) region, on account of the swift industrialization and popularity of the warehousing model.

How Do Government Initiatives Propel Road Traction of Electric Cars in India?

Electric cars are also known as battery-electric vehicles. These cars are equipped with electric motors in place of the internal combustion engine. It requires a large traction battery pack to power up the electric motor. It needs to be plugged into the wall outlet or charging equipment. It is also known as the electric vehicle supply equipment.

Moreover, it runs on electricity. The vehicle captures no tailpipe exhaust, and it does not contain any typical liquid fuel components, including a fuel line, fuel pump, or fuel tank.

Major Components of All Electric Car

Battery: An electric drive vehicle is equipped with an auxiliary battery that offers electricity to power vehicle accessories.

Charge Port: The charge port facilitates the vehicle to connect to the external power supply for charging the traction battery pack.

DC/DC Converter: It converts the higher-voltage DC power to the lower-voltage DC power from the traction battery to facilitate powering the vehicle accessories and recharging the auxiliary battery.

Electric Traction Motor: It utilizes the power from the traction battery pack to drive the wheels of the vehicle. Several vehicles may utilize motor generators to perform both drive and regeneration functions.

Onboard Charger: It consumes the incoming AC electricity supplied through the charge port, and converts the DC power to charge the traction battery. It also interacts with the charging equipment and monitors the characteristics of the battery, such as current, voltage, temperature, and state of charge during the charging of the pack.

Power Electronics Controller: It manages the electrical energy flow delivered through the traction battery and controls the electric traction motor speed, and torque produced by it.

Thermal System (Cooling): It maintains the proper operating temperature range of the engine, power electronics, electric motor, and other components.

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India Electric Scooters and Motorcycles Market IS Dominated by Uttar Pradesh

The total revenue generated by Indian electric scooter and motorcycle market was USD 893 million in 2022, and it will power at a rate of 27.30% in the coming years, to touch USD 6,161 million by 2030.

Furthermore, the incentives delivered under the FAME-II scheme would additionally make these vehicles feasible for the common people.
Electric scooters, especially medium-speed models, will rule the industry. The obtainability of a substantial number of e-scooter models in this speed range, their low cost, along with feasibility compared of the conventional gasoline- driven mopeds are powering their sales in India.

India Electric Scooters and Motorcycles Market

48V batteries are the most-prevalent power source, with more than 80% share in the recent past. Scooters with 48V batteries are a rational buy when we look at the range, cost-effectiveness, and safety, which is the reason the category will remain dominant in the years to come.

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Furthermore, with the increasing demand for higher speeds and longer driving ranges, the electric two-wheelers with 60V batteries share will rise in the years to come.

UP dominates Indian electric scooter and motorcycle market, with the use of electric variants also unceasingly increasing, as per a market research firm, P&S Intelligence. The need for these vehicles from the key tier-2 and tier-3 cities is on the rise.

Additionally, as a result of the high potential of growth in this state, the key OEMs’ lay emphasis on increasing their share, with the expansion of their dealership network, is helping the growth of the industry.
The Union government is supporting the EV industry by offering subsidies on the acquisition of these kinds of vehicles. These subsidies have basically made battery-powered scooters and motorcycles more feasible for the customers. Few of the supportive initiatives are purchase rebates, tax exemptions, and financial incentives to EV buyers.

It is because of the increasing requirement for energy efficient commute in the country, the need for electric scooters and motorcycles on the roads of the country will continue to rise in the years to come.

Why Are Overnight Electric Bus Charging Stations Popular in U.K.?

In June 2018, BYD Co. Ltd. (BYD) received an order for 37 BYD-ADL Enviro400EV double-decker electric buses from Transport for London (TFL); the company delivered the first five in July 2019. In all, 2018 saw the procurement of over 130 electric buses in the U.K., which was a massive increase of 55% from the last year, and by year-end, 300 such automobiles were operational in the kingdom. Considering such an increase, P&S Intelligence has forecast the U.K. electric bus charging station market to grow from $13.3 million in 2018 to $95.5 million by 2025, at an explosive 30.7% CAGR between 2019 and 2025.

The EVSE comes in a range of power outputs, including <50 kilowatts (kW), 50–150 kW, and >150 kW. Among these, <50 kW electric bus charging stations have found the widest adoption in the kingdom till now, as they are cost-effective. However, they charge the buses rather slowly, which can be problematic for transit companies. Since buses need to operate for long hours in order for transit firms to make money, grounding them for slow charging can be counterproductive. This is why the installation of >150 kW charging stations is set to rise massively in the coming years.

However, the most important reason behind the advance of the U.K. electric bus charging station market is the rise in the sale of electric buses. Diesel buses, just like any other internal combustion engine (ICE) automobile, lead to heavy emissions of greenhouse gases (GHGs), which are notorious for polluting the air and causing breathing-related diseases. Moreover, the heavy consumption of diesel is leading to the depletion of crude oil resources, which is why replacing conventional buses with clean-energy variants has become necessary.

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As a conventional automobile cannot work without gasoline or diesel, EVs cannot work without electricity. And, the lack of charging stations around the world has been one of the biggest factors discouraging people from purchasing EVs. This is why the installation of EVSE has picked up pace in the kingdom, with governments, automakers, and utility companies coming together to achieve the objective. For instance, InvertedPower Pty. Ltd. and Heliox B.V. began collaborating in June 2019 to install SprintCharge, a battery-buffered electric bus charging station.

Hence, as more electric buses are procured in the U.K., the number of charging stations is bound to go up.

Overview About India Mold Release Agent Market

In order to stop a substrate from adhering to a molding surface, mold release agents are utilized. The casting material would bond to the mold without a mold release barrier. This may significantly impact the quality and efficiency of the molding procedure.

India’s market for mold release agents has a bright future since there are prospects in the rubber, die casting, tire, plastic, concrete, and food processing industries. Mold release agents are increasingly being used in die casting, tire, and plastic applications, which is one of the main development factors for this industry.

Emerging trends like the increasing switch to water-based release agents and the rising popularity of baked goods made without gluten directly influence the dynamics of the mold release agent market.

Influencing Factors for Indian Mold Release Agents

The main trend in the industry over the past few years has been moving away from solvent-based mold release agents and water-based mold release agents. Water-based mold release solutions don’t include any solvents or dangerous chemicals that might endanger the environment or people.

Because there is such a sizable untapped market in India, the electrical and electronics industry there has tremendous development potential. The sector is anticipated to increase as a result of rising disposable incomes and increasing demand for technological goods.

Due to the accessibility of cheap labor, global players are also looking to invest in India for electronics R&D and manufacturing.

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Indian Mold Release Agent Segmentation Analysis

Mold release agents that are water-based predominate on the market in terms of kind. In contrast to solvent-based mold release agents, water-based mold release agents have a low concentration of mutagens, VOCs, and carcinogens.

In the upcoming years, strict limits for VOC emissions are anticipated due to the rapid rise in environmental concerns. This will certainly encourage the development of water-based mold release agents.

Historically, the market was controlled by polyurethane processing. This is attributed to the significant volumetric need for polyurethane-based products from sectors including the construction, automotive, and footwear industries.

Browse Full Report India Mold Release Agents Market Top Companies, Trends

APAC is Dominating Nitrile Butadiene Rubber Market

The nitrile butadiene rubber market has captured $2,170.8 million in revenue in 2021, and it is projected to advance at the rate of 4.6% from 2021 to 2030, to capture $3,258.9 million in revenue in 2030, as per a research report by a P&S Intelligence. This is accounted to the snowballing demand for this material from the medical, automotive, oil, and gas industries, which need oil resistance.

In 2021, China dominated the regional market as the largest stakeholder, because of the increasing need for this material from the automotive sector. The nation is also one the biggest manufacturer of both consumer and industrial goods globally.

In 2021, the automotive industry had the largest share nitrile butadiene rubber market at approximately 38.8%. NBR has applications in automobile injection-molded and lathe-cut seals, cables, O-ring seals, and other components that require to handle extreme corrosion and temperatures.

The O-rings aid in sticking the joints between two parts and avoids leakage within the car. With the growth in the acceptance of EVs, coupled with technological enhancements, the automotive industry is observing growth, which will eventually propel the industry.

The Hoses category is projected to grow at the highest pace of around 5% in the coming years. Manufacturers can make innovative items such as nitrile buna-N rubber’s properties can be changed by changing the quantity of acrylonitrile. If wanted it can be more elastic, more abrasion resistant, more heat resistant, and very tough to break.

Therefore, the snowballing demand for this material from the medical, automotive, oil, and gas industries, which need oil resistance will drive the nitrile butadiene rubber market in the future.

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Rising Prevalence of HAIs Propels Medical Device Coating Industry

The medical device coating industry has garnered $7,861.4 million revenue in 2021, and it is projected to rise at a 7.6% CAGR from 2021 to 2030, to generate $15,165.9 million revenue in 2030.

The industry expansion is attributed to the growing awareness on minimally invasive device usage, ascribed to their high success rate. In addition, the rising frequency of healthcare-associated infections, including ventilator-associated pneumonia, and catheter-associated urinary tract infections propels the antimicrobial coatings on medical devices.

The rising elderly population, surging healthcare-related challenges, and growing demand for implants boost the industry growth. In addition, the rising requirement for early detection of diseases is projected to boost the medical device demand, which is projected to fuel the industry growth in the near future.

The healthcare-relevant devices provide patient safety, and hence it is essential for manufacturers to offer the infection-resistant and best-suited material for implants and devices. The metal-based coatings on medical devices hold the largest industry share, due to their wide usage. They are projected to experience the fastest growth, of approx. 7.9% in the coming future.

The metals used in coating materials such as silver for titanium for orthopedic implants, silver for implantable devices, and gold for cardiovascular stents. Similarly, ceramic-based coatings decrease device-associated costs, including forceps, spatulas, scissors, and specific implants.

The R&D in bio-ceramic technology is projected to improve ceramic-coated implants, which are highly durable and low-cost.

The FDA and other regulatory authorities are increasingly focusing on coated medical devices, led by growing prevalence. Manufacturers adopt measures to enhance device safety, including appropriate coatings incorporation, and thus cause industry propulsion.

North America holds the largest industry share, and it is projected to generate $5,408.5 million revenue in 2030. It is ascribed to rising improvement in medical device technology and easy access to better equipment and care. In addition, the rising penetration of healthcare facilities, such as diagnostic centers, and surging investments in healthcare R&D, result in a boom in the industry in the region.

Therefore, the rising prevalence of HAIs fuels the medical device coating industry’s growth.

Gain insights into the medical device coating industry key players, and growth opportunities