Automotive Air Filters Market Forecast Worth $6.10 Billion By 2020: Grand View Research, Inc.

Global automotive air filters market is expected to reach USD 6.10 billion by 2020, according to a new study by Grand View Research, Inc. Growing demand from the automotive industry, particularly in BRIC nations, on account of increasing disposable income and growing industrialization rate is expected to remain a key driving factor for the market. Rising consumer awareness regarding health disorders caused due to contaminated air in the car cabin is also expected to have a positive influence on market growth. Environmental hazards related to combustion engine vehicles have led to the growth of electric vehicles, which contributes negligible emissions but also requires less maintenance of the engine. Growth of electric vehicle industry is expected to challenge automotive air filter demand over the forecast period.
Cabin filters dominated the global automotive air filters product segment and accounted for 51.3% of total market revenue in 2013. Cabin filters are also expected to be the fastest growing product segment, at an estimated CAGR of 8.5% from 2014 to 2020. Consumer shift towards reducing bad odor and minimizing health disorders caused due to air pollutants inside the vehicles is expected to fuel demand for cabin air filters over the forecast period.

View summary of this report @ http://www.grandviewresearch.com/industry-analysis/automotive-air-filters-market

Global automotive air filters market revenue, by product 2012-2020, (USD Million)

 

Further key findings from the study suggest:

• Passenger cars were the largest application for automotive air filters market and accounted for 51.5% of total market revenue in 2013. Growth of passenger cars ownerships particularly in emerging markets of India, China and Brazil is expected to drive air filters demand in passenger cars. Automotive air filter demand in two wheelers is expected to grow at an estimated CAGR of 8.5% from 2014 to 2020.
• Aftermarket dominated automotive air filter demand, at over 70% of total market revenue in 2013. It is also expected to be the fastest growing end-use segment at an estimated CAGR of 8.2% from 2014 to 2020. Consumer shift towards replacing air filters in order to minimize maintenance cost is expected to drive the automotive air filters demand in aftermarket.
• Asia Pacific emerged as the leading regional market and accounted for 49.3% of total market revenue in 2013. Asia Pacific is also expected to be the fastest growing regional market for automotive air filters at an estimated CAGR of 8.5% from 2014 to 2020. Growth of automotive industry in emerging markets of China, India and Indonesia is expected to drive the regional market. North American market is expected to witness steady growth on account of recovery of automotive industry in the U.S. and favorable regulatory scenario in the region.
• Top market participants accounted for less than 50% of the total market revenue in 2013. The market has witnessed mergers and acquisitions over the last few years. This trend is expected to continue and the market is expected to move towards consolidation over the next several years. Some of the leading participants operating in the global market include Mann+Hummel, Affnia, Cummins and Mahle Industries.

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For the purpose of this study, Grand View Research has segmented the automotive air filters market on the basis of product, application, end-use and region:
Global Automotive Air Filters Product Outlook (Revenue, USD Million, 2012 - 2020)
            • Intake
            • Cabin
Global Automotive Air Filters Application Outlook (Revenue, USD Million, 2012 – 2020)
            • Passenger Cars
            • Light & Heavy Commercial Vehicles
            • Two Wheelers
Global Automotive Air Filters End-Use Outlook (Revenue, USD Million, 2012 – 2020)
            • OEM
            • Aftermarket
Global Automotive Air Filters Regional Outlook (Revenue, USD Million, 2012 - 2020)
            • North America
            • Europe
            • Asia Pacific
            • RoW

Smart Elevator Market Is Expected To Grow At A CAGR Of 14.8% From 2015 To 2022: Grand View Research, Inc.

Global smart elevator market was estimated to be USD 10.50 billion in 2014 and is expected to witness significant growth on account of its increasing adoption in emerging economies of Asia Pacific, Middle East and Latin America. Safety, reliability and longer durability is expected to drive growth.
Increasing requirement for faster vertical mode of transportation owing to the increasing number of skyscrapers along with growing purchasing power of consumers in Brazil, China, and India is expected to fuel growth. Rising need for energy efficient systems along with controlled transportation traffic are other key parameters fueling demand. Favorable government regulations along with expeditious infrastructure development in emerging countries are also expected to result in development of the industry in the near future. The market is anticipated to reach USD 30.55 billion by 2022.

View summary of this report @ http://www.grandviewresearch.com/industry-analysis/smart-elevator-market

Asia Pacific smart elevator market by solution, 2012 - 2022 (USD Million)

 

Further key findings from the report suggest:

·         Technological innovations resulting in several benefits including digital control security are also likely to contribute to growth. Better traffic management, cost efficient power consumption, and reduced waiting time for passengers are also expected to boost the market at a significant rate.

·         Demand for smart elevators in new deployment solutions accounted for over 40% of the global market revenue in 2014. Increasing government spending on infrastructure development, particularly in Asia Pacific, is expected to augment growth over the forecast period.

·         Elevator automation including efficient transportation and time-energy saving deployment, is expected to witness significant gains over the forecast period at a CAGR of 15.6%. Elevator access security & control contributed to account for more than 35% of the total share in 2014 and is expected to lose share to the automation segment over the forecast period.

·         Maintenance accounted for less than 6% of the market share in 2014. However, it is anticipated to witness significant growth in coming years, particularly in North America and Europe owing to the existence of installed systems and high prevalence of MRO activities in the region. Stagnant economic growth of these regions is anticipated to fuel maintenance activities of smart elevators.

·         Smart elevators industry for residential applications was valued at USD 2.29 billion in 2014 and is estimated to increase in the near future on account of rising disposable income and increasing demand for energy efficient alternatives. Consumer preference towards energy-efficient solutions for industrial applications is expected to propel growth in the near future at a CAGR of 15.6% over the forecast period. Rapid industrialization, particularly in Asia Pacific and Latin America, coupled with growing inclination of manufacturers towards automation is expected to result is high demand for the technology.

·         In 2014, North America led the global market accounting for 42.3% of the total market revenue. Asia Pacific is expected to witness substantial growth at a CAGR of 19.0% over the projected period on account of rising urbanization, technological advancement, high purchasing power, and infrastructure development in the region. Supportive government initiatives to upgrade existing systems is anticipated to fuel the growth of the Europe industry in the near future.

·         Key players include Bosch Security Systems, Schindler, Schneider Electric, Mitsubishi Electric Corporation, Kone, Otis Elevator Company, Hyundai Elevator Co. Ltd., Fujitec, and Hitachi Ltd. The industry is characterized by enhanced service facility and efficient distribution channels for manufacturers to gain an advantage over their competitors.

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ATM Market Will Grow Rapidly Owing To Its Increased Demand In Technology Industries Till 2022

The global ATM market is expected to reach USD 24.92 billion by 2022, according to a new study by Grand View Research, Inc. Rising demand for automated wireless communication devices along with growing security standards are estimated to drive the industry.
Enhanced security standards for safer online, and physical financial transactions has led to a significant rise in use of these services. Further, continuation of strict security standards and safer modes of financial transactions are expected to have a substantial impact on the industry growth.
Automation of the basic financial transactions and technological advancements increasing at alarming rate would increase mobile transcations among the customers. Linkage of ATMs with wiireless devices would facilitate the customers to complete the transcations securely.
Rising competition amongst the banks to increase the penetration, would lead to its huge installation base, thus offering lucrative growth opportunities for the industry. In order to reduce the frauds, manufacturers and financial institutions are opting for anti-skimming, biometric devices, and voice recognition systems.

View summary of this report @ http://www.grandviewresearch.com/industry-analysis/atm-market

Europe ATM market by solution, 2012 - 2022 (USD Million)

 

Further key findings from the study suggest:

• ATM deployment solutions industry accounted for over 70% of the overall revenue in 2014. They comprise installed machines at varied locations such as worksite, onsite, offsite and mobile segment. The deployment revenue comprises of installed machines and services as well as its maintenance. Rise in installation base and increasing maintenance activities are estimated to drive segment growth.
• ATM managed services market is estimated to exhibit considerable growth, growing at a CAGR of over 11.0% from 2015 to 2022. It contributes significantly towards strengthening the infrastructure for multichannel delivery for better customer retention, acquisition and cross selling opportunities.
• North America ATM market dominated in terms of revenue in 2014, and is expected to significantly lose share by 2022. Adoption of smart machines across countries such as U.S. is estimated to impel growth across this region. Increasing trend of trading in digital currency is driving demand for Bitcoin ATMs across the region.
• Asia Pacific ATM industry is expected to grow at a substantial growth rate of over 12% from 2015 to 2022. Rising demand for self-service machines and ever increasing customer base across regions such as China and India are estimated to drive the regional demand over the next seven years. Additionally, increasing trend of outsourcing its related activities by financial institutions is projected to positively impact growth across this region.
• ATM market share is occupied by companies such as NCR Corporation, Diebold Inc, Wincor Nixdorf, Euronet Worldwide and Nautilus Hyosung. Product innovations and strategic partnerships with the manufacturers are some of the notable strategies adopted by the vendors. For instance, In October 2014, Diebold launched a new 5500 series of with advanced security features such as biometric finger-vein readers and security camera provisioning.

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Grand View Research has segmented the ATM market on the basis of solution and region:

ATM Solution Outlook (Revenue, USD Million, 2012 – 2022)

• Managed Services
• Deployment
• Onsite
• Offsite
• Worksite
• Mobile

ATM Regional Outlook (Revenue, USD Million, 2012 – 2022)

• North America
• Europe
• Asia Pacific
• RoW

Micro Irrigation Systems Market Is Expected To Witness Considerable Growth On Account Of Its Increasing Demand In The Technology Industry Till 2022

The global micro irrigation systems market size was valued at USD 2.48 billion in 2014. The market is anticipated to witness substantial growth by 2022 owing to increasing demand for food across the globe. They including sprinklers, mist, drips, and sprays irrigate plant roots using low discharge emitters and complex pipe network.

The ability to modify the discharge pattern by these systems according to the requirement of various agronomic and horticulture plants drive the micro irrigation market growth. The market is expected to reach USD 9.10 billion by 2022, on account of increasing demand for food in tandem with rising population.

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North America micro irrigation systems market revenue by product, 2012-2022, (USD)

 

 Further key findings from the report suggest:

·         Urbanization and industrialization had led to the expansion of cities and a decrease in arable land for cultivation of crops. In addition, increasing trend of population migration from villages and towns to cities has resulted in reducing the workforce in agriculture industry. These factors together have contributed to increasing popularity of micro irrigation as they not only improve efficiency but also reduce labor.

·         Sprinklers dominated the global market accounting for over 30% of the revenue share in 2014. Flexibility and ease of use of the product is expected to result in its high demand over the forecast period. Moreover, sprinklers also offer more coverage in small quantities of water. Thus, the market is expected to grow at a CAGR of 17.1% from 2015 to 2022.

·         Demand for micro irrigation systems was highest for orchards, accounting for over 30% of the global market. They water only the treeline of the orchard, thus, promoting healthy growth.

·         Plantation & field crops are likely to witness significant gains over the forecast period owing to rising awareness among farmers regarding the benefits of these equipment.Field crops are expected to grow at a CAGR of 18.2% from 2015 to 2022.

·         North America accounted for approximately 30% of the overall revenue in 2014, followed by Asia Pacific. Rising awareness among farmers regarding the benefits of using these systems has resulted in growth of the market over the past few years, and the trend is expected to continue over the forecast period.

·         Increasing adoption of these equipment to conserve water as well as reduce labor in agriculture-eccentric economies of Asia Pacific is expected to augment growth over the forecast period. The market is expected to witness a growth of 19.8% by 2022.Moreover, growing population and rising standard of living are expected to augment the market in the region over the forecast period.

·         Reduced arable land owing to industrialization, deforestation, soil erosion, and urbanization along with scarcity of water are the major drivers of the micro irrigation systems industry. Installing them minimizes soil erosion, increases crop yield with high quality, and low weed growth. Drought related issues can also be solved by these equipment under the guidance of considerable government policies and regulatory frameworks.

·         Prominent industry players include Jain Irrigation Systems Ltd., Valmont Industries, Rain Bird Corporation, Nelson Irrigation, EPC Industries Ltd., The Toro Company, Rivulis Irrigation, Lindsay Corporation, Netafim Ltd., and T-L Irrigation. The market is dominated by a key players including Jain Irrigation Systems, The Toro Company and Rain Bird Corporation, together accounting for over 50% of the market share in 2014. 

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