Category: Automotive Industry

Government Efforts To Enhance The Manufacturing Capabilities In The Emerging Economies Is Anticipated To Positively Affect The Market Growth

The global Automotive Metals Market is expected to reach USD 129.33 billion by 2025, at a growing of 4.4%, according to a new report by Grand View Research, Inc. The global vehicle demand was 78.2 million units in 2011 and increased to 93.9 million units in 2016. Increasing demand for vehicles worldwide has led to increase in the production of vehicles, thereby propelling the demand for automotive metals.

Regulatory policies have led to increased focus towards the production of lightweight and fuel efficient cars which are anticipated to have a positive impact on the demand for aluminum, magnesium, high strength steel, and advanced high strength steel. Aluminum is the second majorly used metals in the automotive industry. It is used to manufacture engine radiators, wheels, bumpers, suspension parts, engine cylinder blocks, transmission bodies, hood, doors, and frame of the vehicles.

The automotive metals market is expected to witness restrained growth due to the high cost of certain metals including magnesium & aluminum and increasing use of plastics as replacement of metals in certain automotive components. Some of the majorly used plastics in automotive industry are polypropylene, polyurethane, polyamide, acrylonitrile butadiene styrene, and poly vinyl chloride while polyethylene and PMMA are expected to witness the fastest growth in the demand over the next eight years.

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Further key findings from the report suggest:

Aluminum is expected to witness a significant growth of 6.1%, in terms of revenue, from 2017 to 2025 on account of its superior properties and lightweight as compared to other metals
Power train is expected to witness sluggish growth of 2.5%, in terms of volume, from 2017 to 2025 on account of growing utilization of plastic & composite materials in this application
Heavy commercial vehicles are anticipated to witness a CAGR of 1.0%, in terms of volume, from 2017 to 2025 on account of declining production of these vehicles globally
The declining sales of vehicles and overstocking of components by the distributors has led to a sluggish growth of the market in Middle East & Africa. However, the region is expected to witness growth over the coming years as companies are focusing on the untapped areas such as car components.
In November 2016, ArcelorMittal launched three new products for automotive application including ductibor 1000, usibor 2000, and martlnsite 1700
In February 2017, Tata Steel signed definitive agreement with Liberty House Group for the sale of its specialty steel business

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Grand View Research has segmented the global automotive metals market on the basis of product, application, end-use, and region:

Automotive Metals Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2025)

Aluminum
Steel
Magnesium
Others

Automotive Metals Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2025)

Body structure
Power train
Suspension
Others

Automotive Metals End-Use Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2025)

Passenger cars
Light commercial vehicles
Heavy commercial vehicles

Automotive Metals Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2025)

North America
- US.
Europe
- Germany
- UK
Asia Pacific
- China
- India
Central & South America
- Brazil
Middle East & Africa

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

Wholesale And Distribution Automotive Aftermarket Size Was Valued At USD 150.58 billion in 2015 and is going to exceed $277.37 Billion By 2025

The global Wholesale & Distribution Automotive Aftermarket is expected to reach USD 277.37 billion by 2025, according to a new report conducted by Grand View Research, Inc. Digitalization of automotive repair & component sales, complemented with advanced technology incorporations in the automobile aftermarket component manufacturing, is expected to boost the market growth. The surging reception of semi-autonomous, electric vehicles, and hybrid & autonomous cars in the years to come is further expected to bolster the new component market growth. The market has been categorized based on replacement parts into tire, battery, brake parts, filters, body parts, lighting & electronic components, wheels, exhaust components and other replacement parts

The increasing vehicle penetration is driven by the overall improvement of lifestyle in developing countries, such as India and Brazil, and is expected to drive the growth of the automobile industry in these countries. Similar surges in the automotive manufacturing sector across various regions, along with increasingly stringent norms regarding emissions, are expected to drive the growth of automotive aftermarket component sales over the forecast period.

The Asia Pacific regional market is expected to be the fastest-growing market for automotive collision repair services over the forecast period, owing to its developing living standards and high vehicle production. It is also anticipated to be the fastest-growing market in automobile production. With the growing penetration and acceptance of gas and hybrid electric cars, the number of specialized repair centers dedicated toward repair of particular vehicles is expected to increase.

The wholesale & distribution automotive aftermarket is expected to witness tremendous growth due to an upsurge in the number of vehicle collisions along with the inclination of owners toward repairing automobiles.

Browse Full Research Report on Wholesale & Distribution Automotive Aftermarket: http://www.grandviewresearch.com/industry-analysis/wholesale-distribution-wd-automotive-aftermarket

Further key findings from the report suggest:

The wholesale & distribution automotive aftermarket is estimated to grow significantly over the forecast period, owing to an increase in the number of lightweight vehicles coupled with the increasing age of light vehicle fleet.
North America has witnessed a higher technology adoption rate, which, in turn, is anticipated to result in a faster and higher adoption of hybrid electric automobiles in the region as compared to other geographies.
The wholesale & distribution automotive aftermarket is anticipated to witness a phase change attributable to the growing proportion of specialized automotive collision repair centers that are dedicated to serving specific vehicles, such as alternate fuel powered vehicles.
Key industry participants include Magneti Marelli S.p.A., Continental AG, 3M Company, Federal-Mogul Corporation, Delphi Automotive PLC, Robert Bosch GmbH, and Denso Corporation.

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Grand View Research has segmented the wholesale & distribution automotive aftermarket based on replacement parts and regions:

Wholesale & Distribution Automotive Aftermarket Replacement Part Outlook (Revenue, USD Billion; 2014 – 2025)

Tire
Battery
Brake parts
Filters
Body parts
Lighting & electronic components
Wheels
Exhaust components
Others

Wholesale & Distribution Automotive Aftermarket Regional Outlook (Revenue, USD Billion; 2014 – 2025)

North America
- US.
- Canada
- Mexico
Europe
- Germany
- UK
Asia Pacific
- China
- India
- Japan
South America
- Brazil
The Middle East & Africa

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Increasing Acceptance of Electric Vehicles As Well As Semi-Autonomous Cars In The Years To Come Is Further Anticipated To Bolster The Market Growth

The global Cold-End Exhaust System Aftermarket is expected to reach USD 6.04 billion by 2025, according to a new report by Grand View Research, Inc. Stringent government regulations & emission norms, complemented by sophisticated technology incorporations in the automobile exhaust component fabrication, are expected to boost the market growth. The increasing acceptance of electric vehicles as well as semi-autonomous and autonomous cars in the years to come is further anticipated to bolster the market growth.

Regional regulatory authorities, such as Japanese Automobile Sport Muffler Association (JASMA) and the U.S. Environmental Protection Agency, spectate and regulate the noise emission intensities concomitant with the present-day automotive resonators and mufflers in the automotive exhaust system.

The market can be categorized based on vehicle types into passenger cars and commercial vehicles. The growth in the disposable income of consumers in the emerging markets is expected to have a positive impact on the growth rate of passenger cars. The improving infrastructure, coupled with the modern lifestyle across the globe, is expected to fuel the sales of passenger cars. The rising trade activities of goods and materials via road transportation is expected to fuel the demand for light and heavy commercial vehicles.

The market is expected to witness pioneering developments with the introduction of chemicals and new metals that provide weight reduction and cost-efficiency in automobiles. The nano-on-nano-technology is expected to ripple in the market owing to benefits rendered by the technique. It helps in slowing down the degradation rate of metals in automotive exhaust components.

Browse Full Research Report on Cold-End Exhaust System Aftermarket: http://www.grandviewresearch.com/industry-analysis/cold-end-exhaust-system-aftermarket-industry

Further key findings from the report suggest:

The factors expected to impel the market growth over the forecast period include the increasing awareness regarding the effects of automotive noise pollution, stringent government regulations, and a steady rise in the automobile sale
Issues pertaining to high R&D expenditures are expected to hinder the market growth over the forecast period.
The European region dominated the cold-end exhaust system aftermarket, accounting for the largest global market share (in terms of revenue) in 2015
The key industry participants include Eberspächer Exhaust Aftermarket GmbH & Co. KG, Flowmaster, Inc., Calsonic Kansei Corporation, Bosal Group, Magneti Marelli S.p.A., and MagnaFlow

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Grand View Research has segmented the cold-end exhaust systems aftermarket based on systems, vehicle types, and regions:

System Outlook (Revenue, USD Million, 2014 – 2025)

Basic
Performance

Vehicle Type Outlook (Revenue, USD Million, 2014 – 2025)

Passenger Cars
Commercial Vehicles

Regional Outlook (Revenue, USD Million, 2014 – 2025)

North America
- US.
- Canada
- Mexico
Europe
- Germany
- UK
Asia Pacific
- China
- India
- Japan
South America
- Brazil
The Middle East & Africa

Browse Press Release of this Report: http://www.grandviewresearch.com/press-release/global-cold-end-exhaust-system-aftermarket-industry

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

Automotive Electronics Market: Potential Region, Latest Industry Trends & Segment Forecasts To 2020

The global Automotive Electronics Market is expected to reach USD 279.96 billion by 2020, according to a new study by Grand View Research, Inc. Growing demand for advanced driver assistance systems and premium audio systems are some of factors expected to drive the automotive electronics market through the forecast period. Continuous growth in the number of electronics components used by automotive manufacturers has spotlighted new opportunities for suppliers. Emergency call systems, alcohol ignition interlocks and accident recorder systems are various technologies that are expected to spur market growth through the forecast period.

High level of complexity and lack of awareness about the overall understanding of the subsystems may curb market growth. Various complexities include tolerance stackup, mechatronic interaction and harsh operating environment. In order to meet the rising complexity issues, OEMs are focusing on product innovation such as reducing weight, and decreasing number of modular platforms. Additionally, increasing trend towards in-vehicle infotainment is expected to yield opportunities for the automotive electronics market.

Browse Full Research Report on Automotive Electronics Market: http://www.grandviewresearch.com/industry-analysis/automotive-electronics-industry

Further key findings from the study suggest:

Increased penetration towards electric vehicles (EV) and hybrid vehicles (HEV) is expected to increase automotive electronics component demand. This is attributed to reduced product cost associated with emission controls and enhanced lithium-ion battery cooling capabilities.
Application segments include body electronics, powertrain, ADAS, safety and infotainment. ADAS is expected to exhibit high growth over the next six years. This growth is attributable to stringent safety regulations leading to the large-scale adoption of active safety systems in modern cars.
Proliferation of in-car infotainment systems owing to eco-efficiency, security and comfort factors is also estimated to positively impact automotive electronics market growth. Demand for in-car data storage to support sophisticated in-car features is expected to be the key growth driver for the infotainment systems.
North America was the largest regional market in 2013. Asia Pacific is expected to witness high growth due to rising need for reduced production cost, customized vehicle features, meet stringent standards and increase product quality. Countries such as China and India are expected to favorably impact regional market growth.
Notable companies operating in the market include Continental AG, Bosch, Delphi, Denso, Autoliv, TRW Automotive and Johnson Controls. Key growth strategies employed include building technology partnerships with other participants in the ecosystem.

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For the purpose of this study, Grand View Research has segmented the global automotive electronics market on the basis of application and region:

Automotive Electronics Application Outlook (Revenue, USD Billion, 2012 – 2020)

ADAS
Body Electronics
Infotainment
Powertrain
Safety Systems

Automotive Electronics Regional Outlook (Revenue, USD Billion, 2012 – 2020)

North America

- U.S.

Europe

- Germany
- UK

Asia Pacific

- China
- India
- Japan

- Brazil

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Automotive Aftermarket is projected To reach $486.36 Billion By 2025: Grand View Research, Inc.

The global Automotive Aftermarket is expected to reach USD 486.36 billion by 2025, according to a new report by Grand View Research, Inc. Digitalization of automotive repair & component sales complemented by advanced technology incorporations in the automobile aftermarket component manufacturing is expected to boost the market growth. The surging reception of semi-autonomous, electric vehicles, and hybrid & autonomous cars, in the years to come, is further expected to bolster the new component market growth. The market can be categorized, based on replacement parts, into tire, battery, brake parts, filters, body parts, lighting & electronic components, wheels, and exhaust components.

The increasing vehicle penetration is driven by the overall improvement of lifestyle in the developing countries, such as India and Brazil, and is expected to drive the growth of the automobile industry in the region. Similar surges in the automotive manufacturing sector across various regions along with the increasing stringent emissions norms are expected to drive the growth of automotive aftermarket component sales over the forecast period.

The Asia-Pacific regional market is expected to be the fastest growing market for automotive collision repair services over the forecast period, owing to its developing living standards and high vehicle production. It is also anticipated to be the fastest-growing market in automobile production. With the growing penetration and acceptance of gas and hybrid electric cars, specialized repair centers dedicated toward repair of particular vehicles are expected to increase.

The global automotive aftermarket is expected to witness tremendous growth due to an upsurge in the number of vehicle collisions along with the inclination of owners toward repair of their automobiles.

Browse Full Research Report on Automotive Aftermarket: http://www.grandviewresearch.com/industry-analysis/aftermarket-automotive-parts-market

Further key findings from the report suggest:

The automotive aftermarket is estimated to grow significantly over the forecast period, owing to an increase in the number of lightweight vehicles coupled with the increasing age of the light vehicle fleet
North America has a higher technology adoption rate, which is anticipated to result in faster and higher adoption of hybrid electric automobiles in the region as compared to the other geographies
The global automotive aftermarket is anticipated to witness a phase change attributable to the growing proportion of specialized automotive collision repair centers that are dedicated toward serving specific vehicles such as alternate fuel powered vehicles
The key industry participants include Magneti Marelli S.p.A., Continental AG, 3M Company, Federal-Mogul Corporation, Delphi Automotive PLC, Robert Bosch GmbH, and Denso Corporation.

Read Our Blog: http://www.grandviewresearch.com/blogs/technology

Grand View Research has segmented the automotive aftermarket based on replacement part and region:

Automotive Aftermarket Replacement Part Outlook (Revenue, USD Billion, 2014 – 2025)

Tire
Battery
Brake parts
Filters
Body parts
Lighting & Electronic components
Wheels
Exhaust components
Others

Automotive Aftermarket Regional Outlook (Revenue, USD Billion, 2014 – 2025)

North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- UK
Asia Pacific
- China
- India
- Japan
South America
- Brazil
The Middle East & Africa

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Automotive Infotainment Market is Poised to Reach USD 37.62 Billion by 2025: Grand View Research, Inc.

The global Automotive Infotainment Market is expected to reach USD 37.62 billion by 2025, according to a new study by Grand View Research, Inc. The increasing adoption of smartphones is anticipated to have a significant impact on the in-car infotainment market, as they are the most prominently used connectivity gateways of an infotainment system.

north-america-automotive-infotainment-market

The demand for enhanced driving experience is also predicted to drive the market over the forecast period. The increased focus on driver comfort and convenience has led to the development of various automotive infotainment systems, which offer innovative features such as voice control, Bluetooth connectivity, real-time traffic updates, and navigation information. These features provide comprehensive vehicle information to the driver and thereby, enhance safety and driving experience. However, these systems involve high costs of integration and are primarily integrated in premium and luxury vehicles. Inadequate infotainment security and privacy are predicted to hinder the growth of the automotive infotainment market.

The use of infotainment systems in commercial vehicles is mainly driven by the widespread adoption of navigation units. The implementation of navigation and communication units in a commercial vehicle has increased operational efficiency and enabled a reduction in response time during emergency situations. As commercial vehicles have high travel time, compared to passenger cars, improving safety and driver experience is very essential.

Browse Full Research Report On Automotive Infotainment Market: http://www.grandviewresearch.com/industry-analysis/automotive-infotainment-systems-market

Further key findings from the study suggest:

The communication unit dominated the product segment and was valued at USD 3.9 billion in 2016
The head-up display segment is expected to be the fastest-growing segment with an anticipated CAGR of 13.5% over the forecast period
The key success factor for various participants to gain traction in the market is building cost-effective and driver-centric automotive infotainment systems
Automotive infotainment aftermarket products are cost-effective, as compared to OE fitted, and are much preferred by price sensitive consumers
The passenger car segment is expected to grow at the highest CAGR of 11.4% over the forecast period, owing to the growing trend of low-cost passenger cars
The Asia Pacific region is predicted to witness a CAGR of 11.3% during the forecast period, owing to the presence of prominent OEMs such as Hyundai Motor Company and Toyota Motor Corporation
The key industry participants of the market include Continental AG, Harman International, Panasonic Corporation, Alpine Electronics, Inc., Denso Corporation, Pioneer Corporation, Visteon Corporation, Clarion Co., Ltd., Delphi Automotive PLC, and JVC KENWOOD Corporation

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Grand View Research has segmented the automotive infotainment market based on product types, fit types, applications, and regions:

Automotive Infotainment Product Type Outlook (Revenue, USD Million; 2014 – 2025)

Audio Unit
Display Unit
Head-up display
Navigation Unit
Communication Unit

Automotive Infotainment Fit Type Outlook (Revenue, USD Million; 2014 – 2025)

OE fitted
Aftermarket

Automotive Infotainment Application Outlook (Revenue, USD Million; 2014 – 2025)

Passenger Cars
Commercial Vehicles

Automotive Infotainment Regional Outlook (Revenue, USD Million; 2014 – 2025)

North America
Europe
Asia Pacific
South America

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Automotive Adhesive Tapes Market has bright future Due to the increasing investments from Industry Players: Grand View Research, Inc

The global automotive adhesive tapes market is expected to reach USD11.54 billion by 2024, according to a new report by Grand View Research, Inc. Rising demand for adhesive tapes in an extensive range of applications including noise, vibration, masking, electrical insulation, wire harnessing, device insulation, surface protection, labeling, auto body repairs, and automotive dash will fuel industry growth over the forecast period. Replacement of fasteners by automotive adhesive tapes coupled with the introduction of new environment-friendly products will propel the market growth.

Polyvinyl chloride (PVC) was the largest segment and accounted for 31.4% of the overall volume in 2015 and is expected to witness significant rise on account of superior properties including excellent bonding, high adhesion, water resistant and good adhesion to metals. Increasing demand for lamination, insulation, protection and masking of automotive wires will propel industry expansion over the forecast period.

Double-sided tapes are expected to witness significant volume rise at a CAGR of 6.6% from 2016 to 2024 as on account of its durability, reliability, and sufficient bonding & fixing properties. Furthermore, increasing applications in automotive interior parts in light of better resistance and excellent tacky ability will promote industry expansion over the forecast period.

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Further key findings from the report suggest:

The global market demand was 5,745.8 million square meters in 2015 and is expected to show high gains in light of growing vehicle production in China, India, and Mexico
Natural rubber was a prominent segment and accounted for 28.1% of the overall revenue. The product will show growth in light of superior properties including high flexibility, and versatility, and high adhesion.
North America accounted for over 20% of the global volume share and is expected to witness significant gains in light of robust manufacturing base and rapid growth of the automotive sector in the U.S. and Mexico. National policies promoting the development of vehicles, fuel efficiency, and green policy will also impact future automotive trends. Moreover, the presence of various manufacturers including Dow Company, 3M Automotive, and PPG Automotive will augment growth.
Latin America is expected to witness significant revenue growth at a CAGR of 7.3% from 2016 to 2024 as a result of increasing automotive vehicle sales in Argentina, Brazil, and Columbia. Increasing foreign investment in the automotive sector in the region is expected to open new market avenues over the next eight years.
Automotive adhesive tapes industry is dominated by key participants including 3M, Tesa SE, Lintec, and Nitto Denko Corporation. Ongoing product development by various companies to manufacture high-performance and cost-efficient adhesive tapes is expected to augment product consumption over the forecast period.
In August 2015, Shurtape launched FP 115 high-performance flatback paper tape to offer moisture resistance and stronghold for the tube, paper, and core manufacturing. In July 2014, Shurtape expanded its line of double-coated tapes with the introduction of DP 401 polyester film tape designed for polyethylene foam fabrication and lamination processes.

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Grand View Research has segmented the global automotive adhesive tapes market on the basis of adhesive type, backing material, product, application, and region:

Global Automotive Adhesive Tapes Adhesive Type Outlook (Volume, Million Square Meters; Revenue, USD Million, 2013 – 2024)

Acrylic
Natural rubber
Butyl
Others

Global Automotive Adhesive Tapes Backing Material Outlook (Volume, Million Square Meters; Revenue, USD Million, 2013 – 2024)

Polypropylene
Paper
Cloth
Foam
PVC
Others

Global Automotive Adhesive Tapes Product Outlook (Volume, Million Square Meters; Revenue, USD Million, 2013 – 2024)

Masking tapes
Double-sided tapes
Reinforced tapes
Specialty tapes

Global Automotive Adhesive Tapes Application Outlook (Volume, Million Square Meters; Revenue, USD Million, 2013 – 2024)

Interior
Exterior

Global Automotive adhesive tapes Regional Outlook (Volume, Million Square Meters; Revenue, USD Million, 2013 – 2024)

North America
Europe
Asia Pacific
Latin America
MEA

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Key Growth Factors and Opportunities in the Global Fuel Cell Market During projected period

The global fuel cell market is expected to reach USD 24.81 billion by 2025, according to a new report by Grand View Research, Inc. Growing demand for unconventional energy sources is one of the key factors driving the global fuel cell market. Fuel cell is one of the fastest growing alternate backup power options primarily due to the utilization of hydrogen as fuel. In addition, they are eco-friendly as their by-product is harmless in nature, unlike other conventional technologies.

On the basis of policy development, China is still lagging but shows tremendous promise in the near future as the majority of the Chinese fuel cell manufacturers have been focusing to develop proton exchange membrane fuel cells. This implies the focus of the country to incorporate fuel cells in various modes of transport.

Fuel Cell Market.png

The market is expected to witness strategic alliances to expand the end user segment in emerging markets. Public – private partnerships will be critical in attaining an economically viable technological shift. Introducing cleaner technologies to substitute existing methodologies is expected to incur high costs which are expected to challenge the innovative streak of the key market players.

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Further key findings from the report suggest:

Asia Pacific is expected to emerge as the largest market in terms of unit shipment. Rising demand of Combined Heat and Power systems in Japan and other countries in this region, the market for fuel cells is slated to register a robust growth rate.
North America is likely to emerge as the largest market for fuel cells in terms of installed capacity owing to the regulatory scenario in the region and advancements in technology.
PEMFC is expected to emerge as the most dominant form of fuel cell owing to their ability to suit a wide variety of applications ranging from portable to large scale power systems.
In 2014, Japan had introduced “Promotion Project for Hydrogen Society Using Renewable Energy”, an updated policy focused on fuel cell and hydrogen roadmap. This region is expected to grow at an estimated CAGR of 37.8% from 2016 to 2025.
Transportation and Portable application segment are likely to reach a tipping point between niche and mainstream over the forecast period.
Transportation application segment is expected to grow at an estimated CAGR of 39.2% from 2016 to 2025
Some companies operating in the global market include Plug power, Ballard Power Systems, Hydrogenics Corporation, Ceramic Fuel Cells, Ltd., SFC Energy AG

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Grand View Research has segmented the fuel cell market on the basis of product, application and region:

Product Outlook (Volume, Units; Capacity, Mega Watt; Revenue, USD Million, 2014 – 2025)

PEMFC
PAFC
SOFC
MCFC
Others

Application Outlook (Volume, Units; Capacity, Mega Watt; Revenue, USD Million, 2014 – 2025)

Stationary
Transportation
Portable

Regional Outlook (Volume, Kilo Tons; Capacity, Mega Watt; Revenue, USD Million, 2014 – 2025)

North America
- US
Europe
- Germany
- UK
- France
Asia Pacific
- China
- Japan
- South Korea
Middle East and Africa
Central & South America
- Brazil

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Increasing focus on improving Transport Infrastructure, Security and Simplicity for the End-User will push the industry toward growth Till 2025

The global automated fare collection (AFC) market is expected to reach USD 10.74 billion by 2025 according to a new report by Grand View Research, Inc. Automated fare collection systems are the collective components which enable the automated ticketing system for public transportation network. They provide a stable and integrated platform for all the activities regarding the fare collection with equipment like automatic gate machine, ticket vending machine, and ticket checking machine. Automated fare collection systems are used in a number of high transit areas including government buildings, large commercial workplaces and public transport ports. The growing demand for an efficient, automated and hassle free transportation is fueling the need for automated fare collection systems.

The passenger traffic is growing by leaps and bounds worldwide due to ever rising population which in turn is pressurizing the government to initiate and implement new and innovative ways to manage the public transportation services. This is boosting the trend of automated fare collection in several countries as the government is investing increasingly in the infrastructure development. The need for automated, easy to use, and compact systems for everyday use is also driving the automated fare collection market as with recent technological advancements fare collection has become wireless and multifunctional.

There is growing demand for the automated fare collection systems owing to the developments in the metro infrastructures and increasing government investments from developing economies of Asia Pacific region. The ability of these systems to deliver better management, revenue generation, fraud prevention and better future planning are impelling the automated fare collection system markets.

The increasing use of wireless connections, smart-phone users, smart cards, contactless technology, and electronic payment is expected to append the growth of market. The growing adoption of smart technologies and strategic alliances of transportation agencies with technology providers to establish such services is further helping the market to grow.

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Further key findings from the report suggest:

The government initiatives and investment in development of public infrastructure is increasing at rapid rate with many countries opting for complete automation of their services and processes. This is creating a large demand for automated fare collection systems as they supplement the development of smart cities and efficient transportation systems.
With the large scale adoption of smart phones, smart cards, cashless transaction and new connectionless technology there is steady drift towards completely automated processes like revenue generation, traffic management tolling and fine implementation. This will further propel the automated fare collection market, more so, in the developing economies.
The global market is highly competitive. The major industry participants include Cubic Systems, Omron Corporation, Thales Group, Advance Cards Systems, Atos SE, Fare Logistics, LG Corporation, NXP Semiconductor, and Samsung SDS.

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Grand View Research has been segmented the automated fare collection market on the basis of technology, component, system, system components, and region:

AFC Market Technology Outlook (Revenue, USD Million, 2014 – 2025)

Smart Card
Magnetic Strip
NFC
OCR

AFC Market Component Outlook (Revenue, USD Million, 2014 – 2025)

Hardware
Software

AFC Market System Outlook (Revenue, USD Million, 2014 – 2025)

Ticket Vending Machine
Ticket Office Machine
Fare Gates
IC cards

AFC Market System Component Outlook (Revenue, USD Million, 2014 – 2025)

Ticket Vending Machine by Component
Ticket Office Machine by Component
Fare Gates by Component
IC Cards by Components

AFC Market Regional Outlook (Revenue, USD Million, 2014 – 2025)

North America
Europe
Asia-Pacific
MEA
Latin America

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Bearings Market is expected to grow significantly owing to the increasing heavy machinery manufacturing

The global bearings market is expected to reach USD 172.2 billion by 2025, according to a new report by Grand View Research, Inc. The market is anticipated to witness a healthy growth, ascribed to achieve energy efficiency coupled with high demand across the automotive sector. The increasing demand for commercial vehicles is anticipated to propel demand across the automotive sector over the coming years. Bearings are necessary in nearly all applications that involve motion, so all industries, ranging from household appliances, automobiles, and industrial machinery to aerospace, using machinery or related motor-driven linkages use bearings.

The global bearings market is mature with a dynamic market demand closely related to the state of engineering industries and capital goods. Manufacturers in the bearings industry invest in R&D to address the rising competition by offering innovative products.

The technological advancements, such as smart bearings and lubrication technology, incorporating sensor units in bearings, are estimated to offer high growth opportunities to the market. Companies are offering integrated products that drastically reduce the number of bearings required in an assembled product and minimize the overall cost of the equipment. Moreover, it improves the reliability and shelf-life of the product.

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Further key findings from the report suggest:

The development of bearings that enable cost-effective wind energy generation has led to their increased adoption across wind turbine applications that help increase energy production, enhance turbine performance & reliability, and reduce lubricant consumption
Roller bearings are expected to outpace ball bearings, as the largest product segment over the next few years, owing to their capacity to carry heavy loads and shock or impact loading
The railway & aerospace segment is anticipated to witness the fastest growth at a CAGR exceeding 8% over the forecast period, owing to their rising demand in applications including gearboxes, shock absorbers, tilting mechanisms, doors, among others
The Asia Pacific region is expected to emerge as the fastest growing region with a CAGR exceeding 5% over the forecast period on account of the increased demand for fuel-efficient passenger vehicles, swift infrastructure development, and industrialization across the region
The key purveyors comprise NSK, Schaeffler, Timken, SKF, JTEKT, and NTN. Several leading vendors are investing in high-level R&D to come up with innovative bearing solutions. These solutions are focused not only on improving the overall quality of the end-product, but also on being cost-effective.

Read Our Latest Blog: Bearings Market: Healthy demand in the railway & aerospace application segment

Grand View Research has segmented the bearings market based on product, application and region:

Bearings Product Outlook (Revenue, USD Billion; 2014 – 2025)

Ball Bearings
- Deep Groove Bearings
- Other
Roller Bearings
- Split Bearings
- Tapered Bearings
- Others
Others

Bearings Application Outlook (Revenue, USD Billion; 2014 – 2025)

Automotive
Agriculture
Electrical
Mining & construction
Railway & Aerospace
Automotive aftermarket
Others

Bearings Regional Outlook (Revenue, USD Billion; 2014 – 2025)

North America
- US.
- Canada
Europe
- UK
- Germany
- France
- Italy
- Eastern Europe
Asia Pacific
- China
- India
- Japan
Latin America
- Brazil
- Mexico
The Middle East & Africa

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