Computer Numerical Control Machine Market Trends, Demand, Segmentation and Opportunities Forecast To 2026

 The global CNC machines market size is anticipated to reach USD 106.54 billion by 2026 according to a new report published by Polaris Market Research.  The report “Computer Numerical Control (CNC) Machine Market Share, Size, Trends, Industry Analysis Report By Type (Milling Machine, Lathe Machine, Grinding Machine, Welding, Winding Machine, Laser Machines, Others); By Application (Industrial, Automotive, Aerospace and Defense, Electronics, Others); By Regions, Segments & Forecast, 2019 – 2026” provides contemporary market insights and taps future growth trends.

 

In 2018, lathe machine segment dominated the global industry in terms of revenue. Among regions, Asia Pacific will represent region with maximum computer numerical control machine market share during forecast period.

 

An increasing mechanization drive happening globally in sectors such as healthcare, construction, automotive and oil and gas are expected to support growth. The other factors include high accuracy, greater precision, reduced human errors and increased safety. The rising demand for mass production would boost industry during forecast period. However, restraints in the form of high investment costs pull the market down. Growing demand from emerging economies and technological advancements are factor expected to boost CNC machine market.

 

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Computer numerical control machines are used to automate manufacturing and produce large number of products in verticals such as aerospace, automotive, defense, electronics and healthcare. Increasing demands for energy efficient computer numerical control machines have been on the word go for over the years. Use of energy efficient computer numerical control machine assists in conserving electricity and reducing costs while manufacturing high quality products.  Thus, manufacturers would prosper by introducing energy efficient CNC machines along with good prospects for computer numerical control machine market growth.

 

Asia Pacific generated the highest revenue in 2017 and will do so throughout the forecast period. The presence of emerging sectors such as agriculture, healthcare, finance, construction and automotive, including focus on R&D efforts, and growing need for automation drive growth. Fast industrialization and huge growth of manufacturing industry bolsters growth in the region.

 

The different types of CNC machines include milling machine, lathe machine, grinding machine, welding and winding machine and others. In 2017, lathe machine segment accounted for largest CNC machine market share.  The introduction of multi-axis machine types, ease of operation and high precision foster the adoption of lathe machines. Lathes are used widely in industries such as automobiles, mining, manufacturing, construction and others.

 

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The leading players in Computer Numerical Control Machine Market include Fanuc Corporation, Mitsubishi Electric Corporation, Siemens AG, GSK CNS Equipment Ltd., Amada Machine Tools Co. Ltd., Haas Automation, Inc., DMG Mori Co., Ltd., Heldenhain GmbH, Sandvik AB, Bosch Rexroth AG, Soft Servo Systems, Inc., and Yamazaki Mazak Corporation among others.

 

Polyacrylate Market Current and Future Trend Scenario Explored In New Latest Research Report

 The global polyacrylate market is anticipated to reach USD 2.14 billion by 2026 according to a new study published by Polaris Market Research. Polyacrylate is among one of the most largely used polymer for numerous end-use products. The global polyacrylate market is primarily driven by the tremendous growth of paints & coatings, adhesives, and textile markets. This polymer is used in versatile applications on account of its excellent characteristics.

 

In the fast-growing paints & coatings industry, polyacrylates are used in powder coatings applied to appliances & automotive parts, in solvent-borne coatings applied to substrates in corrosive environment & construction structures, and in water-based coatings for applications in the architectures & protective segment coatings.

 

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Rising global population in tandem with the increase in disposable incomes has led to growth of many end-use industries that include high growth prospects of the Polyacrylate Market. Increase in construction activities in many nations, especially the developing countries and revamping of the older structures coupled with consumer demand for feature-rich coatings has mainly driven the demand of polyacrylates in this end-use industry.

 

Many types of polyacrylates are used in different end-use products. Sodium polyacrylate are largely used in baby diapers, personal care, and textile industry. Though these polymers do not have much technical advancement, however are widely used on account of their availability, low-cost, and substantially effective characteristics. Polyacrylates have very insignificant environmental impact with a crucial disadvantage from the substitutes products.

 

Asia Pacific is the dominant regional player for the Polyacrylate Market. China, India, and Japan are the significant countries for its growth with high consumption. Other developing countries such as Indonesia, Thailand, and Vietnam have also witnessed growth in their end-use industries such as paints & coatings with the rising construction activities, this has supported the high growth of polyacrylates.

 

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The major restraint that the polyacrylate market has witnessed is threat of substitutes. This polymer has many other resin alternatives that instead can be used for the formulation of paint & coatings and dispersants. Moreover, latest technical developments and advancements in the material science of the substitutes is also expected to become a wider restraint for the market. Few of such resins include epoxy, alkyd resins, and polyurethane. These polymeric resins have witnessed higher growth on account of their superior properties.

 

The global polyacrylate market comprises of large number of multinationals and local market players. Polyacrylates industry is highly competitive and moderately consolidates due to large number of established chemical market players. Some of the major market players for polyacrylates include BASF SE, Arkema, Evonik Industries AG, Lucite International, LG Chem Ltd., DowDupont, Kao Corporation, Sanyo Chemical, and RSD Polymers Pvt Ltd.

 

Digital Transaction Management Market 2026 : Industry Growth, Competitive Analysis and Future Prospects

 The global Digital Transaction Management (DTM) Market is projected to reach USD 10,528.2 million by 2026, according to a new research published by Polaris Market Research. Digital transaction management is method of transforming traditional document-based processes to digital/electronic platform. In 2017 the electronic signatures solution segment dominated this market and in terms of regions North America is observed to be the leading contributor in the global market.

 

This market is majorly strengthened by increasing importance and focus on cloud services and IT security. There is a strong preference in the banking and financial services industry for adoption of digital transaction management solutions due to changing customer requirement. Thus, steady flow in volume of transactions done via digital platforms such as e-wallets, internet banking, etc. presents transaction service providers with a genuine growth opportunity in the digital transaction management market. Furthermore, extensive adoption and acceptance of various electronic devices along with the convenience of usage and transacting through these devices is pushing enterprises in various industries towards digitally transforming their operations in line with the dynamic consumer requirements and preferences. All these factors are eventually expected to have a positive impact on the progress of digital transaction management market across the world.

 

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The market segments for digital transaction management are based on solutions, industry vertical, end user, and region. The digital transaction management solutions segment includes market for electronic signatures, document digitization, workflow automation, and security & compliance sub segments. Electronic signatures segment is expected to dominate this market in terms of digital transaction management solutions. End user segmentation in the digital transaction management market report covers SMBs and large enterprises. Major industry verticals in this market include BFSI, construction & real estate, education, government, healthcare, and IT & Telecom.

 

North America is observed to be the leading region in this market during 2017, and is expected to lead the global digital transaction management market throughout forecast period. Presence of established players and cloud infrastructure in this region, and growing trend of investments in cloud-based services drive the market growth in the region. Also, the growing demand from banking sector due to its strong preference for digital platforms, and further technological advancements support market growth in this region.

 

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Some of the leading companies operating in the Digital Transaction Management (DTM) market include DocuSign Inc., Fluix, Kofax Inc., Captricity, Box, Namirial Spa, ZorroSign Inc., Insight Enterprises Inc., AssureSign LLC, ThinkSmart LLC, eOriginal, Inc., Euronovate S.A., DocuFirst, OneSpan, HelloSign, Accusoft Corporation, Connective. These companies offer innovative solutions to meet the increasing needs and requirements of consumers from multiple industry verticals

 

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Geotextile Market Trends Analysis, Top Manufacturers, Shares, Growth Opportunities, Statistics & Forecast to 2026

 The global geotextile market size is anticipated to reach $14.03 billion by 2026, growing at a CAGR of 8.8% during the forecast period, according to a report published by Polaris Market Research. 

Geotextiles are extensively used in the reinforcement of soil banks in bridges, pavements, roads, highway, and other construction sector. Their integral applicable functions include sealing, separation, drainage, filtration, and reinforcement in different substrates. Concerning their multifunctional characteristics, the geotextiles are suitable for a range of industries and tend to find application in transportation, maintenance industries agriculture, and construction, among many.

 

The rapidly growing demand for non-woven fabrics has increasingly gained significance and has flourished in the recent past. This has led to increasing applications with the growing number of constructions sites and growing infrastructural structural developments across the world. Governmental authorities of numerous countries have taken precautionary measures during different types of construction on account of growing awareness regarding degradability of roads during natural calamities and to promise enhanced quality and durability.

 

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Polypropylene geo-synthetics is an essential geotextile that requires lower maintenance costs and results in longevity of the roads and similar construction structures. The areas which are prone to any natural calamity such as landslides have witnessed these geotextile materials of significant use, thereby providing a suitable alternative for such scenarios. For instance, the Ministry of Textiles (Government of India) launched a program/scheme for promoting the usage of geotextiles in road applications in the Northeastern region of the country.

 

The roadways segment is likely to witness the fastest growth rate during the forecast period on account of growing issues concerning a lifespan of roads, their maintenance issues, and a growing stabilization. The use of geotextile products is a cost-effective solution towards highway rehabilitation and pavement repairs especially in the emerging countries of the Asia-Pacific, where cost is among the most important concern. The consumption of these products in China, Japan, and India has increased prominently during the recent years, further strengthening the market growth.

 

The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Geotextile Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC and South America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.

 

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The geotextile market in Europe is expected to witness major growth during the forecast period. Some of the significant reasons behind this include increasing expenditure in the construction of roads, railways, airport runways, and pavements in the countries such as Italy, UK, Germany, and France. The rail & road authorities in the previously-mentioned nations have published multiple policies & regulations concerning the drainage plants and waste water treatment processes.

 

Competitive Landscape and Key Vendors

The global geotextile industry constitutes numerous large international market payers and is a fragmented industry. These market players consistently undertake R&D for the launch of new innovative products to strengthen their product portfolio in the industry. In addition, the companies focus mainly on foreign investments in research and development to cater the rapidly growing demand. Big market players are also focusing on their business expansion through inorganic developments which increases the potential concerning expansion of customer base and also geographic expansion.

Some of the prominent industry players include Berry Global, Agru America, Inc., Carthage Mills, DuPont, Strata Systems, Mattex, Propex Operating Company Koninklijke Ten Cate, Kaytech, Tenax and Leggett & Platt.

Polaris Market Research has segmented the global geotextile market on the basis of product, technology, material, application and region:

Geotextile by Technology Outlook (Volume, Kilo Tons; Revenue, USD Million, 2015 – 2026)

·         Woven

·         Non-woven

·         Knitted

Geotextile by Material Outlook (Volume, Kilo Tons; Revenue, USD Million, 2015 – 2026)

·         Polyester

·         Polyethylene

·         Polypropylene

·         Others

Geotextile by Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2015 – 2026)

·         Agriculture

·         Drainage

·         Railways

·         Roadways

·         Others

 

Electronic Contract Manufacturing Services Market Size, Business Opportunities, Top Manufacture and Forecast

 According to a new study published by Polaris Market, the global Electronic Contract Manufacturing Services market is anticipated to reach USD 554.2 billion by 2026. With the rising competition in the electronics industry, increasing cost reduction pressure on OEMs, complexity of electronic products, and decreased product lifecycles, the demand Electronic Contract Manufacturing Services market has boosted globally.

 

For attaining this, OEMs are seeking support from electronic contract manufacturing companies. These OEMs (hirer) subcontract electronic manufacturing contract companies to take advantage from their design expertise, supply chain management, and manufacturing capabilities. This helps the OEMs to leverage resources, reduce costs, access prominent manufacturing technologies, as well as reduce fixed capital investments and fulfil the Electronic Contract Manufacturing Services market demand.

 

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The major players operating in the electronic contract manufacturing services market include Flextronics International Ltd, Hon Hai Precision Industry (Foxconn), Universal Scientific Industrial Co Ltd, Shenzhen Kaifa Technology, Beyonics Technology, New Kinpo Group, Benchmark Electronics, Sanmina-SCI, Zollner Elektronik, Celestica, Jabil, Inc., and Elcoteq SE among others.

 

In addition to this, electronic contract manufacturing also helps in retaining in-house activities and control responsibilities including, quality assurance, product cost management, network solutions integration, customer service, order management, customer interactions, and introduction of new products. These factors are highly responsible for propelling the Electronic Contract Manufacturing Services market growth for electronic contract manufacturing services during the forecast period.

  

The design & engineering segment is expected to notice a high growth during the projected period attributed to increasing preference of OEMs for subcontracting their design requirements. Also, the global market is observing an increase in growth, with the surging demand for electronic circuit boards attributed to its rising significance in several electronic devices including, smart phones and tablets. Several OEMs are subcontracting their circuit assembly requirements to contract manufacturers, resulting in significant increase in their profit margins.

 

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The market operates in a highly competitive environment particularly, the players located in Taiwan and China are providing very economical subcontracted services for manufacturing. The current major focus of these vendors is to support and promote green technologies in their manufacturing processes. Another trend noticed in the current market scenario is increase in acquisitions, mergers and partnership activities. Moreover, the Electronic Contract Manufacturing Services market growth in the North American region is propelled by automotive as well as medical industries. Several R&D centers as well as healthcare institutes in North America are focused on the development of innovative diagnostic products that they plan to outsourcing from contract manufacturers. Such factors are expected to boost the market in the region.

 

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Laundry Detergent Market Trends Analysis, Top Manufacturers, Shares, Growth Opportunities, Statistics & Forecast to 2026

The report “Laundry Detergent Market Share, Size, Trends, Industry Analysis Report By Product Type (Powder Detergents, Liquid Detergents, Detergent Tablets, Fabric Softeners and Others); By End Use (Residential, Commercial); By Regions, Segments & Forecast, 2019 – 2026” provides a comprehensive analysis of present market insights and future market trends.

 

The global laundry detergent market size is expected to reach USD 182.2 billion by 2026 growing at a CAGR of 6.5% during the forecast period, according to a new study published by Polaris Market Research. 

 

Laundry detergents are unanimously sought after because of its requirement on a daily basis. Among the household chores, laundry holds top spot in market attractiveness with a majority of global population doing their laundry at least twice a week and rest doing it daily. Furthermore, increasing availability of machineries to get going with the task and separate services for commercial and household cleansing, demand for detergents has never looked back since. Rising disposable incomes in Asia Pacific and other emerging economies, shift from traditional washing by hand to appliance assisted method, has driven the automatic detergent consumption and more specifically the powder category.

 

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Fabric conditioners are one of the most promisingly used product in the current industry scenario. Fabric conditioner did robust sales and grew at an astonishing pace in the past three to four years. Efficiency and efficacy are the two pillars that industry is leaning upon in notching up good sales figures. Customers also are supportive of this with price playing a vital role. Performance attributes such as removing obstinate and greasy stains, fabric color protection/preservation, and rinses most with all colors is what customers are aspiring for in these products.

 

A dash of scent, freedom from strong chemicals and no jarring colors are among the other attributes being looked for in these products. Product promotion has seen many stages and is a precursor to the industry’s rapid development and lavish sales in laundry detergent market. Time spent on product packaging also goes a long way in beautifying the products seen as a key promotion strategy. Generous packs, big packs, small packs for consumers with stringent budgets, refills and concentrates has been very helpful in attracting consumers form different strata.

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Energy-savings in the form of cold-water wash that delivers best results at low temperatures thus cutting down on energy requirements has helped in high market penetration in every part of the world. Asia Pacific is still a developing market and sales will be driven not by volume but offering better and more premium products all under one roof. Competition is intense with innovation and high-quality generating interest.

 

The leading players in the laundry detergent market includes Alpha Chemical, General Organic Inc., Clean Bubbles., Inc., Procter and Gamble, Nirma, Hindustan Unilever Ltd., Henkel Ag &Co., KGaA, Church & Dwight Co, Inc., Henkel amongst others.

 

Polaris Market Research has segmented the global Laundry Detergent Market is segmented by Product type, End-Use and Region:

 Laundry Detergent Product Type Outlook (Revenue USD Billions 2015-2026)

o    Powder Detergents

o    Liquid Detergents

o    Detergent Tablets

o    Fabric Softene

Laundry Detergent End-Use Outlook (Revenue USD Billions 2015-2026)

o    Residential

o    Commercial

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Constrained Layer Damping Market Current and Future Trend Scenario Explored In New Latest Research Report

 The global Constrained Layer Damping (CLD) market is anticipated to reach USD 1,160 million by 2026 according to a new study published by Polaris Market Research.

 

Global constrained layer damping market is expected to grow significantly over the forecast period from 2018 to 2026 owing to numerous advancements that is driven by a strong growth in various application industries such as automotive, aerospace, defense and construction. Their ability to subdue noise and vibrations generating between the connection of metal or plastic parts is expected to boost the market for constrained layer damping during the forecast period from 2018 – 2026. Constrained layer damping are forms of shear-related energy dissipation systems accomplished by interlocking two or more physical materials using a relatively thin viscoelastic layer. Some of the benefits of using constrained layer dampening systems for dealing with damping of noise and vibrations are the capability to attain high loss factors with comparatively thin configurations and that the rigidity of the composite system is not evidently increased. The systematic technological development of constrained layer damping is expected to be witnessed throughout the forecast period from 2018 – 2026.

 

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The market for constrained layer damping is segmented on the basis of type into active and passive constrained layer damping. Passive constrained layer damping (PCLD) is a recognized technique to add damping to a system. PCLD is a facade damping treatment that consists of more than one viscoelastic layer and one or more non-actuated coerced layer. These PCLD systems are installed to the base layer, the layer that presents the unwanted resonance or vibration. However passive constrained layer damping systems has been replaced by active constrained layer damping (ACLD). This technology can be described as a failsafe, smart and efficient noise and vibration attenuation technology over a large frequency band. The market is also further segmented by viscoelastic material which includes butyl, vinyl, polyurethane and others. On the other hand, the constrained layer damping is additionally segmented into product type into aluminum, steel, non-metallic and others. The steel product type is expected to account for a lion share in the market owing to its application various industries. Steel along with composites have a superior damping capability to reduce structure-borne noise. Furthermore, on the basis of end-use industry the constrained layer damping market into automotive, aerospace, marine, electronics, construction and others. According to Polaris Market Research analysis, automotive end-use industry is expected to dominate the constrained layer damping market.

 

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The future prospect of constrained layer damping looks promising due to the factors such as rising vehicle production coupled with advancing technologies for attaining NVH levels in the automotive industry is expected to drive the market over the forecast period. Additionally, trends in the construction industry to isolate noise and vibrations from structure is expected to fuel the market.

 

Asia Pacific was the largest regional market in 2017 and it is expected to retain its position during the forecast period. The region is anticipated to account for the maximum share of the overall worldwide market in terms of constrained layer damping systems. China being the largest production hub of automotive vehicle around the world is the major reason for the region’s stellar performance as the automotive industry holds the prime market share in the constrained layer damping market. Additionally, countries such as Japan, South Korea and India is further adding up to the growth of the total market.

 

Some of leading industry participants include Trelleborg AB, Nitto Denko Corporation, Pyrotek Inc., Sika AG, American Acoustical Products, Megasorber Pty Ltd, Vibratec, Autoneum, Henkel Ltd., Flexcon Company, Inc, Rousch, Avery Dennison Corporation, Heathcote Industrial Plastics, Soundown Corporation, Vibracoustic Gmbh, Polymer Technology Inc., and 3M among others.

 

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Erectile Dysfunction Drugs Market Trends Analysis, Top Manufacturers, Shares, Growth Opportunities, Statistics & Forecast to 2026

According to a new study published by Polaris Market Research the global erectile dysfunction drugs market is anticipated to reach USD 2.63 billion by 2025. Impotence, also known as erectile dysfunction is the condition of sexual dysfunction where, during the sexual intercourse, men cannot maintain the erection. According to World Health Organization statement, for the emotional, physical and wellbeing of the individual, and to the economic and social development of countries and communities, sexual health is a fundamental thing. Erectile dysfunction affects the quality of life for both partners and patients and is connected with relationship difficulties.

 

Erectile dysfunction is generally an age-related condition but can also be triggered by psychological factors. Cardiovascular diseases such as high blood pressure, clogged arteries etc., diabetes, hormonal insufficiency, chronic kidney disease, multiple sclerosis, injury to the penis, bladder, and pelvis, and neurological issues are the common factor which can cause erectile dysfunction. Moreover, sedentary lifestyle, smoking, excessive alcohol intake, obesity and consumption of drugs such as, antihypertensive drugs, antidepressant, recreational drugs, and psychotropic drugs are some other factors which are significantly contributing towards erectile dysfunction. Exercise, pharmacotherapy, well balanced and maintain lifestyle, penis implants, erection devices, and injections into penis are current treatment available to cure erectile dysfunction. Currently, oral PDE5 (phosphodiesterase type 5 inhibitors) is the first line drug therapy prescribed by physicians for erectile dysfunction.

 

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The availability of oral drugs globally, and rising awareness about erectile dysfunction and sexual diseases is resulting in significant adoption of treatment globally. Moreover, rising number of referrals to secondary care and primary care consultations is expected to propel the growth of erectile dysfunctions drugs market over the forecast period. The increasing elderly population and high rate of chronic diseases such as kidney failure, diabetes, hypertension, hormonal imbalance, and neurological disorders are increasing demand for erectile dysfunction drugs globally.

  

The global erectile dysfunction drugs market is segmented on the basis of drug type, dosage form, end user, and geographically. On the basis of drug type, the global erectile dysfunction market is further segmented into Testosterone, Phosphodiestarse – 5 Inhibitors (PDE5I), Alprostadil, and others. Testosterone is hormone. The lack of testosterone hormone cause impotence or erectile dysfunction, and in such conditions, testosterone hormones are prescribed to the patient to balance the hormone in the body. The Phosphodiestarse – 5 Inhibitors is the drug used to control or block the degenerative action of c-GMP specific phosphodiesterase type 5 (PDE5) on cyclic GMP. The Sildenafil, Vardenafil, Tadalafil, Avanafil, Udenafil are the few examples of Phosphodiestarse – 5 Inhibitors. The Phosphodiestarse – 5 Inhibitors drugs are most commonly prescribed drugs to treat erectile dysfunction and hence accounted major share in global erectile dysfunction drugs market.

 

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The high effectiveness and efficacy of Phosphodiestarse – 5 Inhibitors are the major factors contributing towards the large share in the global erectile dysfunction market. The introduction of long effective pills such as Levitra (vardenafil) and Cialis (tadalafil) are effective for 36 hours and hence they are also know as weekend pill. Moreover, the increasing research and development and various drugs for erectile dysfunction are in various stages of pipeline. The introduction of such blockbuster drugs in the market over the forecast period is expected to propel the growth of erectile dysfunction market globally.

 

By dosage form, the global erectile dysfunction drugs market is further sub segmented into topical, oral, injections and others. The oral segment accounted major share in global erectile dysfunction drugs market. The oral drugs are more convenient to handle the dose, and hence it is highly preferable dosage form. The injections segment is expected to grow at high CAGR over the forecast period.

 

Electric Scooter Market Trends Analysis, Top Manufacturers, Shares, Growth Opportunities, Statistics & Forecast to 2026

 According to a new research published by Polaris Market Research the electric scooter market is anticipated to reach over USD 51,324 million by 2026. In 2017, the retro product segment dominated the global market, in terms of revenue. Asia-Pacific is expected to be the leading contributor to the global market revenue during the forecast period.

 

Several stringent vehicular emission norms passed by governments worldwide have boosted the adoption of electric scooters. Growing concerns regarding environment, depleting fuel resources, and increasing need to reduce fuel consumption further support the growth of this market. Additionally, the increasing acceptance and high success rates of electric cars have encouraged market players to apply similar technologies in the two wheeler segment and optimize performance. Increasing investments by vendors in technological advancements coupled with decreasing prices of Li-ion batteries and powertrain components would reduce the overall cost of these vehicles in the coming years, further boosting the market growth.

 

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The demand for electric scooters has increased significantly over the years owing to increasing prices of gasoline across the globe. The exponential growth in the prices of gasoline and diesel owing to the depleting fossil fuel reserves has encouraged consumers to switch to electric scooters. Limited availability of public charging infrastructure for electric vehicles has limited the adoption of these vehicles in the past. However, with significant government initiatives and substantial investments, the development of public charging infrastructure has accelerated significantly.

 

Governments all across the world are taking initiatives to promote the adoption of electric vehicles. Countries such as China, India, France, and the U.S. have invested significantly in the development of charging infrastructure to support market growth. Governments have also introduced stringent regulations regarding vehicular emissions to encourage the use of electric vehicles. In 2016, Canada invested $62.5 million to support electric vehicle (EV) and alternative fuel infrastructure. It also aims to invest $16.4 million for development of more than 80 new charging units for electric vehicles, along with development of natural gas and hydrogen refueling stations along key transportation corridors. In August 2012, the Government of India approved an investment of 230 billion rupees in the development of electric and hybrid vehicle production and aims a target of 6 million vehicles by 2020. These initiatives by the government are expected to accelerate the adoption of electric vehicles in the coming years.

 

Asia-Pacific generated the highest revenue in the market in 2017, and is expected to lead the global market throughout the forecast period. The increasing disposable incomes in developing countries of this region, and rising environmental concerns drive the market growth in the region. The increasing population of vehicles and adoption of vehicular emission standards of the U.S. and European Union by Asia-Pacific countries further promotes the adoption of electric scooters. Development of public charging infrastructure further supplements growth in the region. Local players are introducing low cost electric scooters with high performance. Numerous key players have adopted partnership and expansion strategies to increase their market share in electric scooter markets of the Asia-Pacific region.

 

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The different battery types used in electric scooters include lead-acid, li-ion, NiMH, and others. In 2017, the lead-acid segment accounted for the highest market share. Lead-acid batteries are commonly used as a source of battery in electric scooters. They are comparatively cheaper than other batteries but offer low kilowatt-hours of energy storage per kilogram of weight. These batteries are inexpensive, reliable, and safe. However, these batteries offer low specific energy, short life cycle, and poor cold-temperature performance, which restrict its use in major applications. These batteries could be easily replaced by lithium-ion batteries in the coming years, however, automakers use it in vehicles owing to its low cost.

 

The well-known companies profiled in the report include Honda Motor Co. Ltd., Brammo, Inc., AllCell Technologies, LLC, Mahindra GenZe, Terra Motors Corporation, Yamaha Motor Company Limited, Suzuki Motor Corporation, KTM AG, Peugeot Scooters, Jiangsu Xinri E-Vehicle Co. Ltd., Green Energy Motors Corp., and BMW Motorrad International among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.