Market News Point

 The number of people traveling by air increased massively from around 310.4 million in 1970 to 4.3 billion in 2019, as per the World Bank. This is credited to the rapid expansion of airlines in terms of their fleet size and the constant entry of new airlines around the world. With the sustained surge in the number of people and amount of freight being transported by air, aircraft fleets are growing rapidly. As per P&S Intelligence, as air travel becomes affordable for a wider spectrum of the society, the aerospace titanium blisk market size will rise from $3,988.3 million in 2017 to $4,945.4 million by 2023, at a 3.7% CAGR between 2018 and 2023. This is because the blisk is one of the primary components of a jet engine. It consists of two parts: a rotating disc and the blades attached to it. Unlike conventional alternatives, wherein the blades are detachable from the disc, a blisk is a one-piece component made via additive manufacturing, computer numerical control (CNC) millin...

The burgeoning demand for advanced driver-assistance system (ADAS) sensors, rising government regulations regarding vehicle safety, and increasing vehicle electrification are expected to drive the automotive sensors market at a CAGR of 7.4% during the forecast period (2020–2030). According to P&S Intelligence, the market value stood at $25,723.8 million in 2019 and it is projected to reach $58,215.3 million by 2030. Moreover, the mounting investments being made in the development of advanced sensors are creating ample opportunities for the automotive sensors market players . The surging demand for ADAS sensors, on account of the increasing adoption of autonomous features in vehicles, will support the market growth in the foreseeable future. Autonomous features such as speech recognition, virtual assistance, eye tracking, gesture recognition, natural language interface, and driver monitoring are highly dependent on advanced automotive sensors. Moreover, the development of the ADAS, ...

The 21st century is definitely the time of electric mobility, with countries around the world taking numerous initiatives to embrace it. Globally, purchase subsidies are being offered, taxes are being reduced, and even dedicated parking lanes are being offered to encourage people to go for electric vehicles (EVs). Now, while these efforts are bearing fruit, they are also creating a problem. In a world already starved of energy, the growing number of EVs is only going to make this problem worse, by further driving the demand for electricity. This creates another problem; still, the majority of the electricity, especially in developing countries, is produced from fossil fuels. In its latest report, the International Energy Agency (IEA) says, “The share of renewables in electricity generation is projected to increase to almost 30% in 2021.”, meaning that 70% of the energy will still be produced from natural gas, coal, and oil. As per P&S Intelligence, these apparent disadvantages of t...

Shared mobility services have become very popular in India over the last few years, and with the increasing focus of the government on mitigating the environmental degradation caused due to the extensive usage of oil and gas-powered vehicles, this trend is expected to continue in the coming years. Vehicular emissions are one of the primary factors responsible for the escalating air pollution levels and rapid environmental deterioration. Due to this reason, the government is enacting stringent regulatory policies to reduce the generation of vehicular emissions. In addition to implementing such policies, the government is also providing subsidies and other financial incentives for encouraging the adoption of eco-friendly vehicles such as electric vehicles, for commercial usage. For example, under the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles II (FAME II) scheme, the Indian government is providing incentive plans for encouraging the deployment of electric vehic...

Almost 74% of the English mothers were employed in 2018, as per the Office for National Statistics (ONS). Similarly, in 2019, 50.6% of the working-age women in Australia had a job. The entry of women in the workforce has changed the family dynamics, with caring for children becoming increasingly difficult because of the long and hectic working hours for both parents. One of the most-critical aspects of caring for children is food and nourishment, which parents are finding increasingly difficult to provide on account of having little time at home. As a result, P&S Intelligence sees a bright future for the baby food market, which already valued $30.0 billion in 2020. This number is expected to reach $53.9 billion by 2030, at a 6.1% CAGR between 2021 and 2030. Baby food is essentially pre-cooked or processed food that can be fed to children straight out of a can or after warming it up. With advances in food processing technologies, a variety of food products are available for babies, ...

The International Energy Agency (IEA) estimates that the stock of plug-in hybrid electric vehicles (PHEVs) (cars) and battery electric vehicles (BEVs) (cars) will mount to 44,355,904 and 79,975,992, respectively, by 2030. Furthermore, the IEA forecasts that the stock of BEV vans and PHEV vans will reach 11,041,648 and 1,959,625, respectively, by 2030. The soaring demand for electric vehicles (EVs) and increasing electrification of powertrain systems across the world, owing to the rising implementation of favorable government initiatives and mounting awareness about air pollution mitigation, will create a huge requirement for aftermarket vehicle parts. Additionally, the increasing vehicle age, especially in the developing countries of Asia-Pacific (APAC) and Latin America, Middle East, and Africa (LAMEA), will aid the automotive aftermarket in advancing at a 5.07% CAGR during 2020–2030. Owing to this reason, the market revenue will escalate from $803.22 billion in 2019 to $1,370.17 bill...

Additionally, the increasing number of do-it-yourself (DIY) customers will also help the e-commerce in automotive aftermarket to advance at 23.3% CAGR during the forecast years (2020–2030). The market revenue stood at $38.2 billion in 2019 and it is projected to reach $292.6 billion by 2030. The soaring popularity of DIY culture is encouraging automobile customers and enthusiasts to upgrade their vehicles themselves. Even though service and maintenance centers and mechanics have been the primary customers of automotive aftermarket components traditionally, the rising popularity of the DIY culture has made DIY enthusiasts the major customers of these products recently. Nowadays, conventional retailers are focusing on augmenting their online presence due to the recent drift toward click-&-mortar retailing. This form of retailing is a combination of e-commerce platforms and brick-and-mortar and businesses. Due to this combination, exclusive drawbacks of either store are mutually dimin...