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Oil & Gas Pipeline Leak Detection Market to Grow with a CAGR of 10.21% during the Forecast Period

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Increasing oil & gas exploration activities are driving the growth in global oil & gas pipeline leak detection market in the forecast period.

According to TechSci Research report, Oil & Gas Pipeline Leak Detection Market – Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026”, the global oil & gas pipeline leak detection market stood at USD2401.32 million in 2020 and is expected to grow at a CAGR of 10.21% in the forecast period on account of increasing network of pipelines in the oil & gas industry.

Due to the sheer consequences of oil and gas pipeline leaks, governments in major countries have enacted rules and legislation requiring the maintenance and deployment of leak detection systems. The Pipeline and Hazardous Materials Safety Administration (PHMSA) recently published a rule to enhance hazardous liquid pipeline restrictions. It established new compliance criteria for system operators and owners with the goal of maintaining pipe integrity and preventing leaks. The increase in incidences of leakage in oil & gas pipelines and storage tank production facilities might be attributed to the expansion of the oil & gas pipeline leak detection market. Other reasons such as the expansion and rehabilitation of current channels as well as the building of new channels around the world and government rules requiring the implementation of leak detection systems help to drive the demand even higher.

Browse over XX market data Figures spread through 110 Pages and an in-depth TOC on ” Global Oil & Gas Pipeline Leak Detection Market”

https://www.techsciresearch.com/report/oil-and-gas-pipeline-leak-detection-market/4881.html

The global oil & gas pipeline leak detection market is segmented on the basis of type, internal v/s external, internal leak detection method, external leak detection method, application, end use, competitional landscape, and regional distribution. Based on type, the market is further fragmented into Upstream, Midstream and Downstream. The midstream segment is expected to register the largest revenue shares of the market and dominate the market segment in the upcoming five years on account of the usage of leak detection systems in the midstream segment. The processing, transportation, and storage of crude oil and natural gas are all part of the midstream section of the oil and gas industry. The oil and gas industry’s midstream activities are seen as a low-risk, highly regulated sector. The pipelines and gathering or transmission infrastructure that transport gas from the well (upstream) to homes and businesses are operated by midstream corporations (downstream). Midstream operations also treat the commodity, remove water or trash, compress it, and prepare it for downstream markets.

Based on Internal Leak Detection Method, the market is segmented into Mass Volume Balance, Negative Pressure Wave, Pressure Point Analysis and Real Time Transient Monitoring (RTTM). Real Time Transient Monitoring (RTTM) is expected to register the largest revenue shares and assert its dominance over the market in the upcoming five years. Expansion of existing pipelines and development of new ones are driving market growth, increased incidents of oil and gas leakages in pipelines and storage tanks at production facilities and the formulation of stringent regulations by governments for the implementation of leak detection technologies and systems around the world are driving the growth of the market.

Key market players in the Oil & Gas Pipeline Leak Detection Market include:

  • Honeywell International, Inc.
  • Atmos International Inc.
  • Siemens AG
  • FLIR Systems Inc.
  • Schneider Electric SA
  • Bridger Photonics Inc.
  • ClampOn AS, Pentair PLC
  • Pure Technologies Ltd.
  • Ttk-Leak Detection System
  • Yokogawa Electric Corporation

Honeywell International Inc., headquartered in Charlotte, North Carolina, is an American publicly traded multinational conglomerate corporation. Aerospace, building technologies, performance materials and technologies, and safety and productivity solutions are the four main areas of business for the company. The company is one of the largest providers of the oil & gas pipeline leak detection systems. They are recently launching innovative and technologically advanced products that is further promoting their brand value.

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“North America region is anticipated to hold the largest revenue shares of the market and dominate the segment in the upcoming five years on the account of rapidly increasing oil & gas exploration activities in the region. America’s oil and natural gas industry supports 10.3 million jobs in the United States and nearly 8% of the nation’s GDP. Moreover, oil prices have reached their greatest levels in six years, and the oil and gas industry has returned strongly during 2021. APAC is expected to register significant growth due to the expanding network of gas pipelines across the region. Furthermore, increasing investments in the Asia Pacific region is expected to drive the market for leak detection systems in the region. Moreover, technological advancements in the leak detection systems may influence the growth of the global oil & gas pipeline leak detection market in the upcoming five years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Oil & Gas Pipeline Leak Detection Market – Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026 Segmented By Type (Brass Oil & Gas Leak Detection, Steel Oil & Gas Leak Detection), By Application (Vertical Alignment of Walls, Doorjamb, Lining up Points, Wallpapering), By Part (Pointed End, Weight, Hole for String, String), By End User (Residential, Commercial, Industrial), By Region”, has evaluated the future growth potential of global oil & gas pipeline leak detection and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global oil & gas pipeline leak detection market.

Press Release : https://www.techsciresearch.com/news/6758-oil-gas-pipeline-leak-detection-market.html

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Saudi Arabia Construction Equipment Rental Market to Surpass USD2166 Million by 2026

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Increasing infrastructure development projects are driving the growth in Saudi Arabia construction equipment rental market in the forecast period, 2021-2026.

According to TechSci Research report, Saudi Arabia Construction Equipment Rental Market By Equipment Type (Dump Truck, Diesel Genset, Crane, Wheel Loader, Excavator, Bulldozer, Motor Grader, Telescopic Handler and Others), By Region (South & West, North & Central, East), By Province (Mecca, Riyadh, Eastern, Asir, Medina, East), Competition, Forecast & Opportunities, 2016-2026F”, the Saudi Arabia construction equipment rental market would potentially project a growth of 6.85% in the forecast period, 2021-2026 on the account of rapidly surging demands from the construction industry. Many projects, including port development, airports, railways, bridges, power & water and oil sector, are in the pipeline as of 2020. The government in the kingdom has expressed its plan to enhance the infrastructural development in the country. This is expected to fuel growth in the construction industry and consequently increase the demand for construction equipment rental in Saudi Arabia during the forecast period.

Moreover, the Saudi Arabian government’s initiatives to transform the country from an oil-based economy to a more reliant on manufacturing and service-based economy are expected to drive the construction market in the region. Furthermore, an increase in government infrastructure spending, population expansion, and an increase in disposable income is believed to have increased demand for residential, commercial, and institutional structures, which will enhance demand for construction equipment. In the following years, the Saudi Arabian government’s increased focus on expanding net spending and the introduction of Vision 2030 is expected to considerably enhance the country’s economy and construction sector. Among the GCC countries, Saudi Arabia is the fastest-growing destination for exports of heavy machinery from ASEAN nations. Saudi Arabia has led the transformation in the GCC construction market with the development of six economic cities.

Browse over XX market data Figures spread through 80 Pages and an in-depth TOC on ” Saudi Arabia Construction Equipment Rental Market”

https://www.techsciresearch.com/report/saudi-arabia-construction-equipment-rental-market/2315.html

The Saudi Arabia construction equipment rental market is segmented on the basis of equipment type, province, and regional distribution. Based on Equipment type, the market is further fragmented into Dump Truck, Diesel Genset, Crane, Wheel Loader, Excavator, Bulldozer, Motor Grader, Telescopic Handler and Others.

Due to its advantages, the wheel loader is predicted to register the largest revenue shares and dominate the market segment in the next five years. Various advantages associated with wheel loader are High capacity in carrying loads, Options for different sizes, Low maintenance, Versatility in different applications, Ease of operation and reduced operating costs. Apart from its utility as an earthmover, wheel loaders can also be used in different applications. With the option for different attachments, wheel loaders default buckets can be changed into blades, augers, backhoes, hammers, rakes, etc. wheel loaders can also be used to lift trash, carry pipes, compact gravel, move hay bales, drill holes, and hammerstones. Moreover, wheel loaders require less training costs. It also makes the tasks in a job site faster to complete, with less manpower needed to manually carry heavy loads, resulting in fewer days spent on a project and fewer human resources costs.

Key market players in the Saudi Arabia Construction Equipment Rental market include:

  • Zahid Tractor and Heavy Machinery Company
  • General Contracting Company (GCC)
  • Bin Quraya Rental
  • Industrial Supplies Development Co. Ltd. (ISDC Rental Company)
  • Abdulla Nass & Partners Co. Ltd. (ANPC)
  • Saad Al Qahtani Contracting (SAQCO)
  • Arabian Consolidated Trading Group – Crane & Heavy Equipment Rental
  • Altaaqa Alternative Solutions Co. Ltd.
  • Al Faris
  • Rezayat Sparrow Arabian Crane Hire Co. Ltd.

Based on region, the market is segmented into South & West, North & Central and East Region. South & West region is anticipated to hold the largest revenue shares of the market and dominate the segment in the upcoming five years on account of increasing infrastructure development projects in the region. Furthermore, tourism activities in these regions are expected to contribute to the GDP of the region, thereby creating ample demand for construction activities in the coming years. Growth of the real estate sector across northern & central region is mainly due to increased investments from the government in construction projects which is expected to positively influence the demand for construction equipment.

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“Saudi Arabia construction equipment rental market is anticipated to grow at a healthy CAGR between 2016-2026, owing to the increasing investment in infrastructure projects, shifting from oil-based economy to service based and increasing foreign direct investment in the kingdom. Moreover, favorable socio-demographic factors such as literacy level, disposable income, etc., and development in financial sector are anticipated to benefit Saudi Arabia construction equipment rental market as a whole during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Saudi Arabia Construction Equipment Rental Market Segmented By Type (Brass Plumb Bob, Steel Plumb Bob), By Application (Vertical Alignment of Walls, Doorjamb, Lining up Points, Wallpapering), By Part (Pointed End, Weight, Hole for String, String), By End User (Residential, Commercial, Industrial), By Region, Size, Share, Trends, Competition, Opportunity and Forecast, 2016-2026”, has evaluated the future growth potential of Saudi Arabia construction equipment rental and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Saudi Arabia construction equipment rental market.

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India Small Commercial Vehicle Market to Surpass USD4256 Million by 2027

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Increasing vehicle production and booming e-commerce industry to drive the demand for India small commercial vehicle market for the forecast period.

According to TechSci Research report, India Small Commercial Vehicle Market – By Region, By Company Forecast & Opportunities, 2027”, India small commercial vehicle market was valued at over USD1909 million in 2021 and is forecast to grow at a CAGR of 15.14% to reach USD4256.93 million by 2027. The E-commerce industry is witnessing colossal growth in the past few years, and the outbreak of COVID-19 has further contributed to the increased sales. Small commercial vehicles are employed for the on-demand delivery and the demand for small commercial vehicles is increasing rapidly to meet high demand from e-commerce businesses to deliver goods on time.

The demand for small commercial electric vehicles in India has witnessed significant growth owing to its affordable application in last-mile cargo and logistic needs. For small commercial vehicle operators, low total cost of ownership is considered one of the crucial factors for business growth. In 2021, prices of petrol and diesel in the country had been high, with states like Rajasthan, Tamil Nadu, Telangana, etc., already breaching the USD1.31 per liter mark. According to Mahindra Electric Mobility Limited, one of their small electric commercial vehicles in the cargo segment, Treo Zor, has a certified driving range of 118 km-125 km on a full charge. For the same distance traveled, the charging cost is comparatively cheaper than the fuel cost. As a result, the total cost of ownership of the small electric commercial vehicle decreases dramatically for a longer span of time than its counterpart.

Browse 22 market Figures and 1 table spread through 81 Pages and an in-depth TOC on “India Small Commercial Vehicle Market”.

https://www.techsciresearch.com/report/india-small-commercial-vehicle-market/8149.html

India small commercial vehicle market is segmented into vehicle tonnage, industry, propulsion, region, and company. Based on vehicle tonnage, market can be divided into less Than 1 ton, 1 – 2 Ton, and 2 – 3 Ton. The India small commercial vehicle market is majorly propelled by the 2-3 ton segment, accounting for a market share of 47.16%, in volume terms, in FY2021. One of the main factors determining the growth of the segment is its ability to carry heavier loads for longer distances. Moreover, the country is an industrial and agricultural powerhouse, where it is very common for people to carry heavy goods. Small commercial vehicles lying in 2-3 tons such as Tata Intra V30, Tata Yodha 1200, Mahindra Supro Profit Truck Maxi LX, etc., come in handy for such applications.

Based on the region, West India holds the major share in the India small commercial vehicle market with a 36.22% market share in terms of volume in FY2021. The region also accounts for the largest small commercial vehicle fleet in the country. West India comprises the most happening and largest cities of India, such as Mumbai, Jaipur, Ahmedabad, Pune, etc. West India leads over the other regions in terms of road infrastructure, industries, ports, etc., and is home to major industrial sectors such as chemical, construction, consumer durables, pharma, etc.

Leading players operating in India small commercial vehicle market include:

  • Lohia Auto Industries
  • Tata Motors Limited
  • Ashok Leyland Limited
  • Atul Auto Limited
  • Piaggio Vehicles Pvt. Ltd. (PVPL)
  • Mahindra & Mahindra Ltd
  • Bajaj Auto Ltd.
  • TVS Motor Company
  • Isuzu Motors India Private Limited
  • Saera Electric Auto Pvt. Ltd

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“Based on industry, E-commerce accounted for 14.94% market share in terms of volume in FY2021 in India small commercial vehicle market. The e-commerce industry is booming in India owing to the growing internet penetration and large discount offers on online sales. According to World Bank open data, 41% of India’s population uses internet, compared to 20.81% in 2018. The enormous growth in internet penetration in India has transformed the way business is done in the country.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

India Small Commercial Vehicle By Vehicle Tonnage (Less Than 1 ton, 1 – 2 Ton, and 2 – 3 Ton), By Industry (E-commerce, FMCG, Pharma, Electronics, Construction, Agricultural, Hospitality, Forestry, Oil & Gas, and Others), By Propulsion (ICE and Electric), By Region, Competition, Forecast & Opportunities, 2027” has evaluated the future growth potential of India small commercial vehicle market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of India small commercial vehicle market.

Press Release : https://www.techsciresearch.com/news/6747-india-small-commercial-vehicle-market.html

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Saudi Arabia Vehicle Reparation Market to be Valued USD1204 Million by 2027

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Growing demand for improving the life of automobile through maintenance and repair to drive Saudi Arabia vehicle reparation market until 2027

According to TechSci Research report, Saudi Arabia Vehicle Reparation Market – By Region, Competition, Forecast & Opportunities, 2027”, Saudi Arabia vehicle reparation market stood at USD982 million in 2021 and is projected to grow at a CAGR of 3.52% in the next five years. Growth in average miles drive per vehicle and increasing sales of used vehicles are driving the growth of the vehicle reparation market.

The geographical topography of Saudi Arabia enables people to enjoy off-road activities in the country. For off-roading purposes, most people prefer SUVs, which drives the growth of SUV sales in the country. For a better off-roading experience, people are upgrading their vehicles for the desert terrain as well as diverse terrains. Upgradation of the tires by using wide tires and by increasing the power of the engine, the vehicle performance increases tremendously. This upgradation is done by the vehicle repair and maintenance companies and service centers, which leads to the growth of Saudi Arabia vehicle reparation market.

The increase in used car sales in the country contributes to the rising demand for maintenance and repair services. Increasing demand from shared mobility fleet owners, increasing employment opportunities, lower price of used cars, presence of attractive finance schemes and availability of cheap fuel in the country are major factors driving the demand for used cars in the country. Moreover, increasing market penetration offers digital platforms to the customers for buying and selling used cars as well as provide servicing and warranty facilities along with easy, instant and paperless loan experience to their customers. Moreover, every time a used car is sold, complete servicing of the car is required to keep the vehicle functioning intact. All such factors contribute to the growth of the vehicle reparation market in Saudi Arabia.

Browse 28 market Figures spread through 88 Pages and an in-depth TOC on ” Saudi Arabia Vehicle Reparation Market”.

https://www.techsciresearch.com/report/saudi-arabia-vehicle-reparation-market/8150.html

Saudi Arabia vehicle reparation market is segmented on the basis of service area, vehicle type, service provider, channel, and regional distribution. The Saudi Arabia vehicle reparation market based on service area is divided into automotive mechanical and electrical parts, paint, glass, automotive body parts, tire, interior parts and others. Automotive mechanical and electrical parts held the lion’s market share of 51.37% in the service area in 2021. Auto parts such as battery, alternator, starter, braking components, engine, transmission system, etc., lie in the automotive mechanical and electrical part segment. These parts have maximum utilization when a vehicle runs. Therefore, automotive mechanical and electrical parts must be in good condition for good performance and smooth driving experience, etc. The high market share of automotive mechanical and electrical parts can be attributed to the higher utilization of these auto parts, which is anticipated to continue in the forthcoming years as well.

Leading players operating in Saudi Arabia Vehicle Reparation market include:

  • Abdul Latif Jameel IPR Company Limited
  • SMC Auto Service Broker LLC
  • Ezhalha
  • E.A. Juffali & Brothers (Juffali Automotive Company)
  • Al Jazirah Vehicles Agencies Co. Ltd.
  • Petromin Corporation
  • Al Jomaih Group (ACDelco Service Centers)
  • Haji Husein Alireza & Co. Ltd.
  • Mohamed Yousuf Naghi & Brothers Group
  • Aljabr Group

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“Al-Riyadh holds the major share in Saudi Arabia vehicle reparation market with 48.15% market share in terms of value, in 2021. The region also accounts for the largest fleet share which proportionally increase the demand for vehicle upgradation and reparation. High population (around 7.4 million), rising per capita income and increasing demand in vehicle modification in the region are the major factors driving the growth of vehicle reparation market in Al-Riyadh.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Saudi Arabia Vehicle Reparation Market By Service Area (Automotive Mechanical and Electrical Parts, Automotive Body Parts, Tire, Paint, Interior Parts, Glass, Others), By Vehicle Type (Two-Wheeler, Passenger Car, LCV, and M&HCV), By Service Provider (Automobile Manufacturers, Franchise General Repairs, Locally Owned Repair Shops), By Channel (Online, Offline), By Region, Competition, Forecast & Opportunities, 2027”, has evaluated the future growth potential of Saudi Arabia vehicle reparation market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of Saudi Arabia vehicle reparation market.

Press Release : https://www.techsciresearch.com/news/6748-saudi-arabia-vehicle-reparation-market.html

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Europe EV Powertrain Testing Services Market to Surpass USD37904.30 Million by 2030

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Increasing sales of electric vehicle to drive the demand for the Europe EV Powertrain Testing Services market for the forecast period.

According to TechSci Research report, Europe EV Powertrain Testing Services Market By Country, Competition, Forecast & Opportunities, 2016- 2030, the Europe EV powertrain testing services market stood at USD5605.88 million in 2020, and it is expected to grow at a double-digit CAGR of 22.02% to reach USD37904.30 million by 2030. Initiatives taken in the form of subsidies on the purchase of electric vehicles to promote its adoption and norms for reducing greenhouse emissions are driving the sales of electric vehicles in the region. Surging sales of electric vehicles are contributing to the increasing demand for the powertrain testing services market through 2030.

European Union laws set an emission target of 10g/km by mid-century, representing the Paris agreement goal of a maximum increase of two degrees Celsius of global earth temperature. In order to comply with the regulations, private and public transportation is witnessing increased automotive scrappage. Also, 26 out of 27 EU members have some form of incentives for EV manufacturers. For instance, countries like France and Germany have made electric cars production an important criterion for their industry stimulus programs in their efforts to promote EV adoption. All these developments have led to the rising demand for the EV powertrain testing services market in Europe.

Browse 70 market Figures and 1 Table spread through 154 Pages and an in-depth TOC on “Europe EV Powertrain Testing Services Market”.

https://www.techsciresearch.com/report/europe-ev-powertrain-testing-services-market/8151.html

Europe EV Powertrain Testing Services market is segmented into vehicle type, propulsion, sourcing, country, and company. On the basis of vehicle type, the market can be segmented into light duty, medium duty, and heavy duty. There has been an increasing demand for light duty vehicles in the EU region, where the industrial sector is expanding gradually, and the need to transport raw materials and finished products efficiently and cost effectively is increasing. The running cost incurred on transporting raw materials and finished products in small pickup trucks or vans that run on battery power is lower than gasoline vehicles. The high number of electric light duty vehicles is contributing to the increased share of the EV powertrain testing services market.

Leading players operating in Europe EV powertrain testing services market include:

  • Applus+ IDIADA
  • Ricardo Plc
  • TÜV SÜD
  • AVL List GmbH
  • CTAG Automotive Technology Centre of Galicia
  • Intertek Group Plc
  • ATESTEO GmbH & Co. KG
  • HORIBA MIRA Ltd
  • Element Materials Technology
  • FEV Group GmbH

EV powertrain testing services market is fragmented, and manufacturers are focusing on research and development processes to fuel higher growth in the market. For instance, TÜV SÜD is the leading player in the Europe EV Powertrain Testing Services Market, accounting for market share of 9.85% in 2020 in terms of total electric vehicles tested. The company has a robust portfolio of testing services for EVs. The company recently invested over USD30 million to open the largest independent center for mobility and powertrains testing at Heimsheim in Germany. The company also has a strong testing center network ranging across various countries in Europe, which further allows it to enjoy a competitive edge over other companies.

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“Most of the leading global electric car manufacturing companies have their sales operations or headquarters in Germany. To meet the climate targets, the Germany government is offering incentives to purchase electric vehicles and plans to abolish tax on pure electric vehicles by 2030. Previously, the EVs market in Germany offered a limited range of electric cars. However, in recent years, new product offering and diversification of companies in EVs have increased sharply, attracting the attention of more domestic customers towards electric cars. Increasing sales of electric vehicles in the country, in turn is driving the electric vehicle powertrain testing services market and contributing to the dominant share of the country in the region.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Europe EV Powertrain Testing Services Market By Vehicle Type (Light Duty, Medium Duty, Heavy Duty), By Propulsion (BEV, HEV, PHEV & FCEV), By Sourcing (Outsourcing, In-House), By Country, Competition, Forecast & Opportunities, 2016- 2030” has evaluated the future growth potential of Europe EV Powertrain Testing Services market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Europe EV Powertrain Testing Services market.

Press Release : https://www.techsciresearch.com/news/6749-europe-ev-powertrain-testing-services-market.html

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Automotive Torque Converter Market to be Valued USD22736 Million by 2026

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Growing usage of automatic transmission in automobile to drive global automotive torque converter market until 2026.

According to TechSci Research report, Automotive Torque Converter Market – Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2016-2026”, Global automotive torque converter market was valued at over USD15357 million in 2021 and is forecast to grow at a CAGR of 6.02% to reach USD22736 million by 2026. Increasing the use of automatic transmission over manual transmission is driving the growth of the automotive torque converter market. Automatic transmission makes use of torque converters and increasing sales of commercial vehicles and passenger cars are pushing the growth of the market through 2026.

Difficulty in driving caused by crowded traffic conditions, particularly in urban areas, is driving up demand for automatic transmission vehicles around the world. The increasing number of automatic transmission vehicles, especially in countries like the USA, Japan, India, and China, is producing considerable demand for torque converters. When compared to manual transmission vehicles with a clutch, automatic transmission vehicles generate more torque, which helps in smooth transmission. The torque converter changes the gear ratio from 3:1 to 1:1 in an infinite number of phases, resulting in smooth acceleration. This enables the car to start and stop without difficulty.

In an automatic transmission, the torque converter functions similarly to a clutch in a manual transmission. This reduces the clutch plate assembly cost in the vehicle. Torque converter functions as an automatic clutch and serves the purpose of an automatic gearbox to increase torque. Furthermore, torque converters tend to act as an inertial flywheel, since they are so heavy and due to this flywheel effect, torque converter vehicles have more consistent and smoother operations than clutch vehicles.

Browse 159 market Figures spread through 214 Pages and an in-depth TOC on “Global Automotive Torque Converter Market”.

https://www.techsciresearch.com/report/global-automotive-torque-converter-market/1520.html

Global automotive torque converter market is segmented on the basis of vehicle, transmission, stage, propulsion, and regional distribution. On the basis of vehicle, the market is segmented into passenger cars, light commercial vehicles and medium & heavy commercial vehicles. The demand for automotive torque converters in the passenger car segment increased significantly in the past few years globally. The passenger car automotive torque converter segment accounted for 75.48% market share, in terms of volume, in 2020 and the segment’s share is projected to reach around 76.30% by 2026. High penetration of automatic transmission systems in passenger cars makes it the major demand creator for automotive torque converters.

Leading players operating in the global automotive torque converter market include:

  • Sonnax Transmission Company, Inc.
  • Schaeffler Technologies AG & Co. KG
  • ZF Friedrichshafen AG
  • Exedy Corporation
  • Yutaka Giken Company Limited.
  • Dynax Corporation
  • Jatco Ltd.
  • Jeon Woo Precision Co,. Ltd.
  • BorgWarner Inc.
  • Precision Industries
  • Valeo Group
  • Aisin Corporation
  • Shaanxi Aerospace Power Hi-tech Co., Ltd
  • Dana Limited
  • Allison Transmission Inc.
  • Transtar Industries Inc.
  • Unipres Corporation.
  • RevMax Performance Converters
  • TCI Automotive LLC
  • A-1 Performance Trans & Converters

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“Asia-Pacific region holds the largest share in the automotive torque converter market with 45.59% share in 2020 in terms of volume, led by China, as the country holds the major share in the Asia-Pacific region with 51.10% share in 2020. The Asia-Pacific region is the key automobile manufacturing hub across the world. According to the International Organization of Motor Vehicle Manufacturers (OICA) statistical data, a total of 44,289.90 thousand automobiles were produced in 2020, which proportionally leads to the majority of demand for automotive torque converters in the region. Moreover, the region is witnessing a high penetration rate of the automatic transmission system in the vehicles produced, further creating greater demand for automotive torque converters.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Automotive Torque Converter Market – Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2016-2026, Segmented By Vehicle Type (Passenger Cars, LCV, M&HCV), By Transmission Type (Automatic Transmission (AT), Automated Manual Transmission (AMT), Dual-Clutch Transmission (DCT) and Others), By Stage (Acceleration, Coupling, Stall), By Propulsion Type (Petrol/CNG, Diesel, Electric & Hybrid), By Region”, has evaluated the future growth potential of Global automotive torque converter market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of Global automotive torque converter market.

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3D Printing Automotive Market to Surpass USD4079.76 Million by 2026

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Upsurging demand for customization using 3D printing and increased demand for vehicle production using 3D printer across the world to drive global 3D printing automotive market.

According to TechSci Research report “3D Printing Automotive Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2016-2026”, Global 3D printing automotive market is anticipated to grow at a CAGR of 19.55% in value terms, in the next five years to reach USD4079.76 million by 2026. 3D printing, also known as additive manufacturing, is gaining prominence in the automotive industry due to its application in the manufacturing of automotive components. The technology can be used for manufacturing prototypes of automotive seats, and components of the exhaust system, among others. In comparison to the traditional process of manufacturing components, 3D printing process is quick with reduced overall product development time, and improved efficiency. Technologies used for 3D printing include Stereolithography (SLA), Selective Laser Sintering (SLS), PolyJet, Digital Light Processing (DLP), Multi Jet Fusion (MJF), Fused Deposition Modeling (FDM), Direct Metal Laser Sintering (DMLS), Electron Beam Melting (EBM), etc.

By utilizing 3D printing to make models a long time before the final production, automakers can test for quality prior to the actual production plan. Given the design adaptability of 3D printing, organizations can construct and test a huge variety of models. General Motors, for instance, utilizes the 3D printing technologies of specific laser sintering (SLS) and stereolithography (SLA) widely in its preproduction and configuration processes across its functional areas—design, engineering and production with its fast-prototyping department delivering test models of more than 20,000 parts. Thus, 3D printing is expediting production in the automotive sector.

Browse more than 139 market data Figures and spread through 181 Pages and an in-depth TOC on “Global 3D Printing Automotive Market.”

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Global 3D Printing Automotive market can be segmented based on material, technology, application, company and region. In terms of material, the market can be segmented into polymer, metal and others. The polymer segment led the market in 2020 with a share of 47% and the segment is expected to grow at the highest CAGR through 2026. Due to flexibility and high strength, polymers are preferred over metal, thereby, driving the market through 2026. Automobiles consist of a broad range of plastic 3D printed parts and also plastic materials are used more as compared to any other materials in 3D printing methods inside the automotive industry. Additionally, materials like Acrylonitrile butadiene Styrene (ABS) filaments are one of the most frequently used plastics for 3D printing car components and are frequently used within the bodywork of vehicles. Following polymer, metal segment is anticipated to account for the largest share in 2026. Metal can withstand high temperature and pressure, making them the perfect choice for the 3D printing process.

Some of the major players operating globally in 3D printing automotive market are:

  • 3D Systems, Inc.
  • Voxeljet AG
  • Stratasys Ltd.
  • Höganäs AB
  • EOS GmbH Electro Optical Systems
  • GE Additive
  • Autodesk, Inc.
  • 3DGence
  • Optomec, Inc.
  • Ultimaker B.V.
  • Materialise NV

Companies operating in the 3D printing automotive market are focusing on material and software advancement so that 3D printing process is more efficient and can be used for producing high quality material. In the similar front, 3D systems announced in 2021 an agreement to acquire Oqton, a software company, with USD180 million that is a leader in the creation of new breed of intelligent, cloud-based manufacturing operating system platform. In the same year, 3D systems advanced production application by introducing high-throughput 3D printing technologies, a new partnership to provide industry-leading post-processing, improved additive manufacturing software, and new production-grade photopolymer.

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“North America region holds the major share in the 3D printing automotive market with 36.90% share in 2020, led by the United States, as the country holds the major share in the North America region with 76.04% share. North America is the key market in manufacturing automobiles and auto parts using 3D printing technology. The US automotive industry frequently uses 3D printing technologies for rapid prototyping. It is also commonly used for complex, high-value, or custom parts for antique cars. Luxury and customized vehicle business is more prominent in North America. Motorsports such as NASCAR and Formula 1 have also been a field for the application of this technology due to the high demand for performance and weight reduction in the automotive industry.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

3D Printing Automotive Market – Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2016-2026Segmented By Material (Metals, Polymer and Others), By Technology (Stereolithography, Fused Disposition Modelling, Selective Laser Sintering, Laminated Object Manufacturing, Three Dimensional Inject Printing and Others), By Application (Prototyping & Tooling, Manufacturing Complex Components, Research, Development & Innovation and Others), By Regionhas evaluated the future growth potential of global 3D printing automotive market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global 3D printing automotive market.

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Truck Trailer Market to Grow at 6.18% CAGR in value terms by 2026

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Continuously evolving businesses to drive the Global Truck Trailer market through 2026.

According to TechSci Research report “Global Truck Trailer Market By Application Type (Logistics, Construction, Mining), By Truck Tonnage Capacity (Class1, Class2, Class3 Class4, Class5, Class6, Class7, Class8), By Trailer Type (Flat Bed Trailer, Dry Vans, Refrigerated Trailers, Multi Car Trailers, Stretch Drop Deck Trailer, Lowboy Trailer), By Vehicle Type (Light Duty, Heavy Duty, Medium Duty), By Region, Competition Forecast & Opportunities, 2026”, Global Truck Trailer Market is estimated to reach at USD504.98 billion by 2026. A truck trailer is a truck or lorry that is made in two or more sections which are joined together by metal bars, so that the vehicle can carry loads and turn more easily. Growth in the Truck Trailer market is driven by increasing urbanization, construction, and continuously improving road infrastructure. With growing number of small-scale businesses and construction activities across the globe, the demand for trucks to carry goods is constantly increasing, as a result the requirement for truck trailers is increasing with it. To satisfy such huge demand, other than the established global market leaders, unorganized business sector is largely established in the Global Truck Trailer market. The Global Truck Trailer market is majorly dominated by Asia Pacific and North America regions. These two regions account for the highest number of truck trailer sales globally, with their combined market share being well over 80% in 2020 in the Global Truck Trailer market and the trend is expected to continue in the forthcoming years as well. These two regions are comparatively dominating over other regions based on their usage of truck trailers across the globe. As compared to rail connectivity and their ability of transporting goods, truck trailers have advantages like wider reach to hilly regions and remote areas. Wider reach of trucks to hilly regions over other means of transport for transporting goods is helping the Truck Trailer market to grow in remote regions.

Browse more over 154 market data Figures and spread through 110 Pages and an in-depth TOC on “Global Truck Trailer Market.”

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Global Truck Trailer market can be segmented based on by Application Type, by Truck Tonnage Capacity, by Trailer Type, by Vehicle Type, by Company and Region. In terms of the truck trailer application, Global Truck Trailer Market is segmented into Logistics, Mining and Construction and others, with Logistics holding the dominant share in Global Truck Trailer Market in 2020.

According to the Federal Highway Administration (FHWA), trucks are divided into eight classes based on the Vehicle’s gross vehicle weight rating (GVWR) where classes 1–2 are classified as light duty trucks, 3–6 as medium duty trucks, and 7–8 as heavy-duty trucks. Global Truck Trailer market can be segmented based on Truck Tonnage Capacity from class1 to class 8. As majority of truck market is dominated by light trucks, so Class 1 segment is leading the Global Truck Trailer Market and is anticipated to be the leading segment in the forthcoming years as well.

In terms of trailer type, Global Truck Trailer Market is segmented into Flat Bed Trailer, Dry Vans, Refrigerated Trailers, Multi Car Trailers, Stretch Drop Deck Trailer, Lowboy Trailer, where flat bed type of truck trailer accounted for the largest market share in terms of flat bed trailer units sold in 2020. While dry vans type of truck trailer is giving neck to neck competition to the flat bed type of truck trailer, dry vans type of truck trailer is anticipated to maintain its dominance in the forecast period. The increasing demand for transporting goods and continuously improving road infrastructure, leading to better road connectivity will drive the sales of dry vans type of truck trailers globally in the forecast period.

In terms of vehicle type, Global Truck Trailer Market is segmented into Light Duty, Medium Duty and Heavy Duty. As most truck sales come from the type of trucks which are used to carry fast moving consumer goods, and these goods are light weight to medium weight in nature, so majority of truck trailer market share was taken by Light Duty trucks in year 2020.

In addition to that, by region Global Truck Trailer Market is segmented into Asia Pacific, North America, Europe, South America, Middle East and Africa. Majority of demand for truck trailers comes from Asia Pacific and North America, making them leaders of the mainstream market.

 In 2020, truck trailer sales declined in comparison to 2019 as countries around the world underwent strict lockdown in the second and third quarter of 2020 as a measure to counter the spread of the COVID-19 pandemic. The lockdown resulted in the temporary closing down of all factories, including Truck Trailer manufacturing facilities, resulting in production loss for truck trailer market. Furthermore, the governments of most of the COVID-19 affected countries infused social distancing norms that limited the number of workers working at any given point in the same facility. Such measures hampered the workflow of truck trailer manufacturing facilities temporarily. Nevertheless, the market is showing positive signs of recovery and is anticipated to recover in around two years.

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Some of the major players operating globally in truck trailer market are China International Marine Containers (Group) ltd., Wabash National Corporation, Schmitz Cargobull, Great Dane LLC, Hyundai Translead Inc., Utility Trailer Manufacturing company, Krone Commercial Vehicle Group, STI HOLDINGS INC, Kogel Trailer GmbH, Wielton, etc. Apart from these companies are also increasing their marketing activities and enriching their product portfolio to increase their customer outreach.

“In 2020, North America accounted for the largest share i.e., 55.95% in Global Truck Trailer market. The region is expected to maintain its dominance over the next five years as well, with the United States being one of the leading truck trailer manufacturing countries globally. However, Asia-Pacific is giving neck to neck competition. Moreover, increase in construction and logistics is boosting demand for truck trailers globally.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

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“Global Truck Trailer Market By Application Type (Logistics, Construction, Mining), By Truck Tonnage Capacity (Class1, Class2, Class3 Class4, Class5, Class6, Class7, Class8), By Trailer Type (Flat Bed Trailer, Dry Vans, Refrigerated Trailers, Multi Car Trailers, Stretch Drop Deck Trailer, Low boy Trailer), By Vehicle Type (Light Duty, Heavy Duty, Medium Duty), By Region, Competition Forecast & Opportunities, 2026”, has evaluated the future growth potential of Global Truck Trailer market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Truck Trailer market.

 

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Fertilizer Sticks Market To Grow With Impressive CAGR During the Forecast Period

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Global Fertilizer Sticks Market is driven by advancing agriculture sector in the forecast period, 2023-2027.

According to TechSci Research report, Fertilizer Sticks Market – Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027”, The global fertilizer sticks market has a potential to project an impressive CAGR toward forces growth in the period, 2023-2027, on the account of increasing demand for the bio-fertilizers in innovative forms for better crops. Increasing demand for the higher yielding crops is also driving the growth of the global fertilizer sticks market in the upcoming five years. Advantages of fertilizer sticks like gradual dissolution, supports global fertilizer sticks market growth in the next five years. Traditional fertilizers often create mess during application and their absorption is also compromised due to excessive supply at once and nutrient loss through run-off. Fertilizer sticks are inserted beside the plant and while watering the plants slowly, there sticks dissolve providing optimum supply of nutrient in a perfect mix thus aiding the growth of the global fertilizer sticks market in the future five years. Also, increasing demand for green buildings, indoor farming, home gardens, etc. is also substantiating the growth of the global fertilizer sticks market in the forecast years, until 2027. Innovative product development and consistent research by the market players toward development of advanced products is further driving the growth of the global fertilizer sticks market in the forecast period.

Furthermore, increasing awareness among the farmers, and common population about the innovations and aggressive brand promotions also expected to support the robust growth of the global fertilizer sticks market in the next five years.

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The global fertilizer sticks market segmentation is based on type, application, nutrient, distribution channel, regional distribution, and competitive landscape. Based on type the market is fragmented into mineral sticks and organic sticks. Mineral sticks are anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the account of increasing demand for the nutrient enriched fertilizer sticks. Organic sticks are expected to register fastest CAGR in the next five years on the grounds of increasing demand for the bio-fertilizers in stick form. Most of the demands are increasing from the in-home gardeners, and common population inclined toward growing flowering plants, and fruits & vegetables in the home gardens. The factors are also aiding to the growth of the global fertilizer sticks market in the future five years.

On the basis of application, the market is sub-segmented into houseplants, kitchen & herb garden, lush green foliage, indoor plants, flowering plants, and others. Houseplants are anticipated to hold the largest revenue shares and dominate the market segment in the upcoming five years due to increasing in-home gardens. Increasing high-rise infrastructure, corporate offices and increasing demands for green buildings being promoted by government & authority bodies is further driving the growth of the sub-segment and global fertilizer sticks market in the next five years. Kitchen & herb gardens are also expected to register significant growth in the future five years on the grounds of common population inclined toward kitchen gardens and growing fruits & vegetables. Increased awareness among the population regarding using bio-fertilizers and advantages of fertilizer sticks further supports the growth of sub-segment meanwhile driving the growth of the global fertilizer sticks market in the forecast years.

Based on nutrient, the market is further bifurcated into nitrogen, phosphorous, potassium, humic acid, growth hormones, and others. Nitrogen sub-segment is anticipated to dominate the market and hold largest revenue shares of the market in the upcoming five years on the account of increasing demand for the same in in-home gardens. The demand for Nitrogen based fertilizers stood at 110 million metric tons in 2020. This demand is further expected to increase in the subsequent five years thus driving the growth of the global fertilizer sticks market in the next five years.

Some of the market players, dominating the global fertilizer sticks market are :

  • Lazy Gardener
  • Miracle-Gro (The Scotts Company LLC)
  • Unique Industries
  • Jobes Company
  • COMPO Group
  • My Fresh Air
  • Easy Gardener Products, Inc.

The existing market players are highly invested in research and product development along with viable service provisions for the consumers. New market entrants may follow similar strategies along with merger and acquisition methods for future brand establishment.

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“Agriculture sector is a global economic driving sector. Minor economies like India, China are heavily dependent on the growth of agriculture industry for their yearly economic growth. Asia-Pacific region is expected to thus dominate the regional analysis of the market. Increasing demand for the innovative agricultural commodities, fertilizers, pesticides, all drive the growth of the industry in the region. New market players may focus on the consistent research such that their brand establishment may gain some promotions and thus support the growth of the market too,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Fertilizer Sticks Market – Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027, Segmented By Type (Mineral Sticks v/s Organic Sticks), By Application (Houseplants, Kitchen & Herb Garden, Lush Green Foliage, Indoor Plants, Flowering Plants, Others), By Nutrient (Nitrogen, Phosphorous, Potassium, Humic Acid, Growth Hormones, Others), By Distribution Channel (Online v/s Offline), By Region”, has evaluated the future growth potential of global fertilizer sticks and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global fertilizer sticks market.

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Automotive 3D Printer Market to be dominated by Stereolithography technology through 2027

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Growing demand to develop complex and quality parts and supportive government initiative are expected to drive the growth of global automotive 3D printer market in the forecast period, 2023-2027.

According to TechSci Research report, Automotive 3D Printer Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, the global automotive 3D printer market is anticipated to witness impressive growth in the forecast period, 2023-2027. The rise in the cost of raw material prices and the rapid change in the global economy make the automotive market players seek cost-effective strategies. The surge in the adoption of advanced technologies such as machine learning, smart factory, industry 4.0, machine learning is fueling the proliferation of 3D technology for the manufacturing process. Stringent government regulations focus on reducing carbon emissions and making automotive manufacturers spend substantial amounts on emission-reducing components, and new and advanced safety equipment influences market demand. The automotive industry is actively adopting 3D printing technology to reduce the lead time and cost incurred in the manufacturing process. 3D printing at the initial automobile manufacturing process is considered beneficial as it allows the designers to identify the errors or defects from the prototype, lower the production cost and attain higher resolution. 3D printing reshapes the prototyping process and helps create complex, high-performance, and customized automotive parts. It allows the manufacturers to build models by using several building materials. The materials used in the 3D printing process include metals, ceramics, polymers, and others. Printing materials are selected based on the expected characteristics of the printed object. Some 3D printers can simultaneously use different materials to make the manufacturing process more manageable. Applications of 3D printing are increasing at a rapid rate as they offer higher resolution and precision than the conventional methods.

However, lack of skilled labor or expertise to operate the 3D printer and high initial costs may restrain the global automotive 3D printer market growth.

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The global automotive 3D printer market is segmented on the basis of technology, application, competitional landscape, and regional distribution.

Based on the technology, the global automotive 3D printer market is divided into stereolithography, fused disposition modeling, selective laser sintering, laminated object manufacturing, three-dimensional inject printing, and others. The stereolithography segment is expected to dominate the next five years, 2023-2027. This technology is utilized to make complex prototypes and display models. Stereolithography uses the single-production cycle and produces smooth surfaces even without needing to finish. The use of liquid starting material makes the process superfluous, and it results in saving time and money and increases efficiency during material consumption. It has low material consumption and can produce flexible and rigid 3D objects prototypes. Multi-part assemblies, customized coloring can be done by using this method, and it is the preferred method for 3D printing as it is a cost-effective process.

Based on the application, the global automotive 3D printer market is divided into prototyping & tooling, manufacturing complex components, research, development & innovation, and others. The prototyping & tooling segment is expected to witness significant growth opportunities in the forecast period. Prototype manufacturing helps automotive manufacturers to realize the errors and the shortcomings beforehand and make the necessary changes to avoid further expenses. The use of 3D printing technology lowers the turnaround time to make prototypes. Previously, manufacturers had to outsource the prototyping process, leading to higher production costs and turnaround time.

Based on the regional analysis, the North American region is expected to hold the largest market share, followed closely by Europe and Asia-pacific regions in the forecast period. North America has a well-established automotive industry and boasts several market players in the region. The presence of a skilled labor force, technological advancements, and high-end investments to advance the automotive industry are the major factors influencing the market demand.

Major market players operating in the global automotive 3D printer market are:

  • 3D Systems Corp.
  • Formlabs Inc.
  • Markforged, Inc.
  • Zortrax S.A.
  • Ultimaker BV

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“Market players are adopting 3D printing technology as it offers advantages such as easy customization, greater design flexibility, and boosts faster product development, influencing the market demand. Market players invest in research and development activities and adopt strategies such as new product launches, company expansion, mergers, and acquisitions to accelerate growth and gain the largest market share. Rapid advances in 3D technology and the creation of lightweight body parts and components by using 3D printing technology is expected to propel the global automotive 3D printer market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Automotive 3D Printer Market – Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027”, has evaluated the future growth potential of global automotive 3D printer and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global automotive 3D printer market.

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