Polycarbonate is the term applied to a supple thermoplastic polymer which has become one of the essentialities in various industries. It is used for impact resistance, optical clarity, weightiness, and heat resistance. Different industries where applications are found include automobiles, electronics, construction, medical equipment, and consumer items. There is stiff competition in the global polycarbonate market, with major players offering strategic measures and introducing novel solutions to grab market share and satiate the market need for more earth-friendly and high-performance materials.
Moreover, technological advancements like laser-cutting, printing, and coating techniques are major catalysts for market growth because they have enhanced the applicability of polycarbonate film across various industries. This technology allows a very detailed and intricate cutting of polycarbonate films, which makes it possible to produce complicated forms and designs with a precision never before seen in manufacture. This radical change in process has made more effective, economical manufacturing possible, printing technologies have made possible personalization and branding of polycarbonate films possible, and increasing use in the automotive industry which has also increased the sales of new vehicles, leading to high demand for polycarbonate market. For instance, automotive sales increased from 65,101,201 in 2022 to 73,041,198 in 2023.
Figure 1: Sales/registration of New Vehicles, Global, 2022 to 2023
Source: OICA
Further, the polycarbonate industry is ruled by only a few, major multinational companies- Covestro AG, SABIC, Teijin Limited, Mitsubishi Engineering Plastics Corporation, LG Chem, and Idemitsu Kosan Co. Ltd. Such organizations are at the forefront of innovation, have efficient supply chains, and pay attention to the client’s need for product development. These companies derive their market dominance from enormous investments in R&D and alliances with advanced manufacturing capabilities.
Let’s discuss each in detail.
Covestro AG
Covestro is the leading producer of high-tech polymers globally, as well as one of the top companies producing polycarbonate resin.
Strategy:
Covestro is focused on promoting a circular economy and providing environmental benefits. The company is also creating bio-based polycarbonate grades like Makrolon® RE, using renewable feedstocks yet maintaining high performance in both applications and end products.
Production sites for Covestro include Asia Pacific, Europe, and North America as part of its global footprint which further enhances its ability to build up reliable supply chains and satisfy demand across major regions.
Through utilizing powerful digital tools, Covestro can increase the efficiency of its supply chains and relationships with customers.
Innovations:
The recycling of plastics produced in high quality by Covestro targets automotive and consumer electronics.
It has lightweight polycarbonate composites in automotive applications that reduce weight, which helps fuel efficiency and lower emissions.
SABIC
SABIC is a giant in petrochemicals across the globe when it comes to polycarbonate. Everybody knows polycarbonate for its brand, the LEXAN™.
Strategy:
Recycling recently enters through investments in very innovative recycling processes for polycarbonate development into recycled resins of virgin-grade quality.
SABIC is establishing its presence through partnerships and increased capacity in emerging countries and Asia Pacific.
Extensive collaboration with the automotive and electronics industries in developing specific solutions.
Innovations:
- High-Performance Materials:
SABIC flame-retardant polycarbonate grades meet stringent electronic safety standards.
- Renewable Energy Applications:
Its optical-grade polycarbonate is widely utilized in covering solar panels and in LED lighting systems.
Teijin Limited
Teijin is an eminent provider of polycarbonate resin safeguarding itself with lots of innovative applications of lightweight, high-performance composites.
Strategy:
Teijin creates lightweight materials for automotive and aerospace uses while enabling manufacturers to meet environmental legislation.
The company expends countless resources in the development of new polycarbonate composites and sustainable materials.
Innovations:
These composites are used in electric cars (EVs) for their battery casing and also as an interior trim. It creates polycarbonate having excellent electrical characteristics for IoT devices and wearable electronics.
Mitsubishi Engineering Plastics Corporation
Mitsubishi Engineering Plastics is the polycarbonate house of a global joint venture of Mitsubishi Gas Chemical and SABIC.
Strategies:
Customization of polycarbonate to be specifically tailored to industrial products like optical storage media and medical equipment.
Source recycled materials to convert them into polycarbonate products for a lesser environmental effect.
Innovations:
- Medical-grade polycarbonate:
Materials designed for robust sterilizing resistance & biocompatibility in health care applications.
- Advanced Resins for Electronics:
These tend to be flame-retardant plus impact-resistant characters usually seen in your smartphones and tablets.
LG Chem
LG Chem is a major contender in the global polycarbonate market offering a wide range of thermoplastic materials for industrial and consumer applications.
Strategies:
LG Chem ensures vertical integration in order to maintain the cost-effectiveness of its products while also being able to have them made to high-quality standards.
- Sustainability Commitment:
The work of this company evolves among others bio-based polycarbonate and recycled polycarbonate for environmental compliance.
Innovations:
- Transparent and impact-resistant grades:
From LG Chem, polycarbonate products are used in bulletproof glasses, automotive parts, and LED lights.
- Construction Applications
Applications in construction include roofing, skylights, and architectural glazing with polycarbonate sheets.
Idemitsu Kosan
Idemitsu Kosan takes the lead in manufacturing superior polycarbonate materials for markets such as automotive, electronics, and healthcare.
Strategies:
- Diversification of markets:
The company is planning to enhance its presence in North America and Europe while maintaining its solid operations in Asia.
Work together with manufacturing companies to supply customized solutions fulfilling individual performance requirements.
Innovations:
- Heat-Resistant Polycarbonate
It provides heat-resistant polycarbonate materials that are thermally stable for industrial and electrical purposes.
Idemitsu focuses on manufacturing polycarbonates with lower carbon footprints.
Industry Outlook
The competition among the companies will bring about continued improvements along the innovation curve and the applicability of long-term solutions. The fact that lightweight materials will be adopted into electric vehicles, renewable energy infrastructure, and recyclable plastics means that the developing polycarbonate market is only going to get bigger. The competition is investing in and polishing their strategies and new technologies so that they would set the future of the industry. Making polycarbonate an important term in many sectors.
The electronics industry is another major market contributor, using polycarbonate for flame-retardant and damage-resistant parts for smartphones, laptops, and IoT devices. Other prominent growth drivers will be smart home technology and wearable electronics.
An extreme emphasis on sustainability is defining the future of this industry. The key players are in creating bio-based and recyclable polycarbonate to almost cover all environmental issues as well as global sustainability standards. Advanced recycling technologies make the cyclic model an integral part of the manufacturing process.
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Key Players in the Polycarbonate Market: Strategies and Innovations Shaping the Industry
BlogPolycarbonate is the term applied to a supple thermoplastic polymer which has become one of the essentialities in various industries. It is used for impact resistance, optical clarity, weightiness, and heat resistance. Different industries where applications are found include automobiles, electronics, construction, medical equipment, and consumer items. There is stiff competition in the global polycarbonate market, with major players offering strategic measures and introducing novel solutions to grab market share and satiate the market need for more earth-friendly and high-performance materials.
Moreover, technological advancements like laser-cutting, printing, and coating techniques are major catalysts for market growth because they have enhanced the applicability of polycarbonate film across various industries. This technology allows a very detailed and intricate cutting of polycarbonate films, which makes it possible to produce complicated forms and designs with a precision never before seen in manufacture. This radical change in process has made more effective, economical manufacturing possible, printing technologies have made possible personalization and branding of polycarbonate films possible, and increasing use in the automotive industry which has also increased the sales of new vehicles, leading to high demand for polycarbonate market. For instance, automotive sales increased from 65,101,201 in 2022 to 73,041,198 in 2023.
Figure 1: Sales/registration of New Vehicles, Global, 2022 to 2023
Source: OICA
Further, the polycarbonate industry is ruled by only a few, major multinational companies- Covestro AG, SABIC, Teijin Limited, Mitsubishi Engineering Plastics Corporation, LG Chem, and Idemitsu Kosan Co. Ltd. Such organizations are at the forefront of innovation, have efficient supply chains, and pay attention to the client’s need for product development. These companies derive their market dominance from enormous investments in R&D and alliances with advanced manufacturing capabilities.
Let’s discuss each in detail.
Covestro AG
Covestro is the leading producer of high-tech polymers globally, as well as one of the top companies producing polycarbonate resin.
Strategy:
Covestro is focused on promoting a circular economy and providing environmental benefits. The company is also creating bio-based polycarbonate grades like Makrolon® RE, using renewable feedstocks yet maintaining high performance in both applications and end products.
Production sites for Covestro include Asia Pacific, Europe, and North America as part of its global footprint which further enhances its ability to build up reliable supply chains and satisfy demand across major regions.
Through utilizing powerful digital tools, Covestro can increase the efficiency of its supply chains and relationships with customers.
Innovations:
The recycling of plastics produced in high quality by Covestro targets automotive and consumer electronics.
It has lightweight polycarbonate composites in automotive applications that reduce weight, which helps fuel efficiency and lower emissions.
SABIC
SABIC is a giant in petrochemicals across the globe when it comes to polycarbonate. Everybody knows polycarbonate for its brand, the LEXAN™.
Strategy:
Recycling recently enters through investments in very innovative recycling processes for polycarbonate development into recycled resins of virgin-grade quality.
SABIC is establishing its presence through partnerships and increased capacity in emerging countries and Asia Pacific.
Extensive collaboration with the automotive and electronics industries in developing specific solutions.
Innovations:
SABIC flame-retardant polycarbonate grades meet stringent electronic safety standards.
Its optical-grade polycarbonate is widely utilized in covering solar panels and in LED lighting systems.
Teijin Limited
Teijin is an eminent provider of polycarbonate resin safeguarding itself with lots of innovative applications of lightweight, high-performance composites.
Strategy:
Teijin creates lightweight materials for automotive and aerospace uses while enabling manufacturers to meet environmental legislation.
The company expends countless resources in the development of new polycarbonate composites and sustainable materials.
Innovations:
These composites are used in electric cars (EVs) for their battery casing and also as an interior trim. It creates polycarbonate having excellent electrical characteristics for IoT devices and wearable electronics.
Mitsubishi Engineering Plastics Corporation
Mitsubishi Engineering Plastics is the polycarbonate house of a global joint venture of Mitsubishi Gas Chemical and SABIC.
Strategies:
Customization of polycarbonate to be specifically tailored to industrial products like optical storage media and medical equipment.
Source recycled materials to convert them into polycarbonate products for a lesser environmental effect.
Innovations:
Materials designed for robust sterilizing resistance & biocompatibility in health care applications.
These tend to be flame-retardant plus impact-resistant characters usually seen in your smartphones and tablets.
LG Chem
LG Chem is a major contender in the global polycarbonate market offering a wide range of thermoplastic materials for industrial and consumer applications.
Strategies:
LG Chem ensures vertical integration in order to maintain the cost-effectiveness of its products while also being able to have them made to high-quality standards.
The work of this company evolves among others bio-based polycarbonate and recycled polycarbonate for environmental compliance.
Innovations:
From LG Chem, polycarbonate products are used in bulletproof glasses, automotive parts, and LED lights.
Applications in construction include roofing, skylights, and architectural glazing with polycarbonate sheets.
Idemitsu Kosan
Idemitsu Kosan takes the lead in manufacturing superior polycarbonate materials for markets such as automotive, electronics, and healthcare.
Strategies:
The company is planning to enhance its presence in North America and Europe while maintaining its solid operations in Asia.
Work together with manufacturing companies to supply customized solutions fulfilling individual performance requirements.
Innovations:
It provides heat-resistant polycarbonate materials that are thermally stable for industrial and electrical purposes.
Idemitsu focuses on manufacturing polycarbonates with lower carbon footprints.
Industry Outlook
The competition among the companies will bring about continued improvements along the innovation curve and the applicability of long-term solutions. The fact that lightweight materials will be adopted into electric vehicles, renewable energy infrastructure, and recyclable plastics means that the developing polycarbonate market is only going to get bigger. The competition is investing in and polishing their strategies and new technologies so that they would set the future of the industry. Making polycarbonate an important term in many sectors.
The electronics industry is another major market contributor, using polycarbonate for flame-retardant and damage-resistant parts for smartphones, laptops, and IoT devices. Other prominent growth drivers will be smart home technology and wearable electronics.
An extreme emphasis on sustainability is defining the future of this industry. The key players are in creating bio-based and recyclable polycarbonate to almost cover all environmental issues as well as global sustainability standards. Advanced recycling technologies make the cyclic model an integral part of the manufacturing process.
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How EV Charging Connectors Are Driving the Electric Vehicle Revolution
Thought ArticlesElectric vehicles (EVs), which use electric motors driven by large batteries rather than conventional internal combustion engines that run on gasoline, represent a revolutionary change in the automotive industry. EVs provide environmentally friendly transportation and eliminate the need for frequent trips to gas stations. They are distinguished by their increasing driving ranges, which can range from 80 to more than 300 miles on a single charge. In other words, electric vehicles reduce air pollution as well as maintenance expenses since such vehicles do not come with exhaust and oil systems. More and more people are opting for electric automobiles due to their ethical nature as well as advanced technologies that promise a better future in transport.
Electric vehicles (EVs) signify a new vehicle era and movement away from gasoline and diesel engines. Advanced electric motors with battery systems that aid in driving EVs are at the centre of the travel revolution, which has a greater focus on ecologically sustainable transport. Clients and customers of electric vehicles have supported them as these vehicles help reduce the business ecological footprints created, for instance, by conventional gas-powered vehicles.
Moreover, one fundamental shift in the lifestyle of electric vehicle owners is the convenience of not visiting a gas station. It is possible to charge the cars at home using a simple electrical socket or a specialized charging unit. Even more, the mass transit system is extending the network of public charging spots, making it easier to charge while moving on to other activities. Thus, the growth of the adoption of electric vehicles is facilitated by the convenience of charging them at home and their overall functionality.
Figure 1: Global Battery Electric Car Stock, in Millions, Global, 2023
Source: International Energy Agency
EV charging connectors are driving the industry in the following ways
Let’s discuss each one in detail.
1. Infrastructure expansion and accessibility
Uniformity among elements such as charging connectors is vital for enhancing EV infrastructure development as it supports the creation of huge networks for both EV users and charging service providers. It is noted that there are regional standards for DC fast charging operators where CCS is being adopted as the global standard in several regions such as the US and Europe. This reduces the need for complicated infrastructure development in the sense that networks and manufacturers do not have to deal with more than one type of connector.
To enable non-Tesla EV owners access to its network, Tesla recently revealed that it will be making a few modifications to its Supercharger network so that it will be compatible with CCS connectors. Such should help alleviate any ‘range anxiety’ concerns by allowing access to one of the largest fast-charging networks, if not the most, for EV drivers.
2. Increasing charging speed
Fast charging is one of the attractive features of EVs that enhances their utility. They are fundamental factors yet, charging connectors influence the way fast charging is pegged to the usefulness of Evs. There are newer technology connectors for fast charging such as CCS or Teslas’ closed systems that reduce the time spent in charging EVs, bringing the ref-refuelling EVs nearer to ICE vehicles. As was the case with CCS2, 80% of the charge can be accomplished in less than half an hour, with power levels reaching 350 kW.
3. Promoting Vehicle-to-Grid (V2G) capabilities
The capabilities of V2G are made possible by the bi-directional charging functionality innate to CHAdeMO and some of the CCS connectors. EVs fitted with this technology can send energy back to the grid, thus becoming movable batteries whose purpose is to support the grid during peak hours or emergencies. Aside from allowing EV owners’ energy expenses to be lowered, V2G also ensures the reliability of the grid and the deployment of clean energy.
4. Facilitating international standardization
Due to connectors like Type 2 and CCS2, Electric Vehicles are becoming less burdened with cross-border usage and manufacturing. With the advantages of standard connector types for electric vehicles, electric car manufacturers are now able to manufacture cars with one standard design, which eases manufacturing and reduces expenditure in particular regions like Europe.
5. Improving safety and reliability
Due to the standardization of the connectors used in electric vehicle charging networks, there are global charging networks that use fewer types of connectors, thus, more drivers can be served within the networks. With this going on, infrastructure for such networks is developed much faster and owners of electric vehicles have less trouble. The other area of focus while coming up with charging connectors is safety. Many advanced connectors such as CHAdeMO and CCS used safety features as well. In an instance of fast charging, temperature levels are monitored by sensors within the device to prevent excessive heat build-up. Interlock systems are built into the connectors to prevent driving when the EV is plugged in to ensure safe and effective charging.
Innovations in EV charging
With the growth of the EV market, future developments in connection technology will be needed to increase convenience, and speed, and reduce environmental damage.
Wireless Charging:
Inductive charging systems are being developed to enable EVs to be charged without the need for cropping connectors; they may, in some instances, supplant the traditional connectors. Wireless charging still has a long way to go, but this could be ideal for households, taxis and fleets.
Universal Connectors:
There is ongoing development of universal connectors that will be capable of managing AC and DC charging at varying power levels. This will aid in optimizing the infrastructure even more, making it easy for EV owners to find compatible chargers anywhere.
Ultrafast Charging Capabilities:
While today’s connectors like CCS2 and Tesla’s Supercharger networks are relatively fast, future connectors will reach an extreme charging capacity of 500 kW which will make the charging time for the majority of EVs between 10 and fifteen minutes.
In conclusion, EVs in today’s transportation landscape have transcended their primary purpose of providing mobility; they are harbingers of change; taking the world to a new level of development. The world is at an age when unprecedented mobility, one that is sustainable, is slowly but surely emerging; this is represented by the soft whir of electric engines. EVs do offer environmental benefits, but they are also economically attractive due to their enhanced energy effectiveness and lower servicing requirements, making them economically and environmentally advantageous.
Electric mobility is expanding to include the whole ecosystem, not just the single EV chassis. The industry’s dynamism is evidence of a move towards a cleaner, greener future, from the expanding market for electric vehicle batteries to the complex network of connectors and charging stations.
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Urinalysis Market size worth US$7.088 billion by 2030
Press ReleasesThe global urinalysis market is expected to grow at a compound annual growth rate of 6.44% over the forecast period to reach a market size of US$7.088 billion in 2030 from US$4.296 billion in 2025.
Urinalysis is a rapid and highly efficient method applied in urine sample testing with the intent of detecting pre-existing chronic conditions including kidney disease and diabetes, as well as infections like urinary tract infections. Numerous physical, microscopic and chemical tests assist in diagnosis through cell counts, protein levels, and creatinine concentrations, as well as the detection of other materials such as crystals in the urine. All these, as implied in their functions, also serve to find the causes of symptoms such as back pain, stomach pain, and painful urination. Based on the increased prevalence of chronic diseases such as diabetes, kidney disease, and urinary tract infections, the market is primed for growth.
Furthermore, the ageing population and increasing government awareness campaigns are likely to push demand for urinalysis along with the latest technological advancements in urinalysis during the forecast period. Ageing populations in both developed and developing countries contribute to the expansion of the urinalysis market. For instance, One in six individuals worldwide will be 60 years of age or older by 2030. At this point, there will be 1.4 billion people over the age of 60, up from 1 billion in 2020. The number of people in the world who are 60 years of age or older is expected to double to 2.1 billion by 2050. Between 2020 and 2050, the population of people 80 years of age or older is predicted to triple, reaching 426 million.
Moreover, one in five adults over 65 has diabetes, according to the International Diabetes Organization. As more disorders are being diagnosed and treated, prescriptions for tests like creatinine, albumin, glucose, ketones, and bilirubin, among others, are increasing. This is good for urinalysis, which is used to perform these tests.
Additionally, one of the main factors propelling the market forward is the higher incidence of urinary tract infections (UTIs) in developing countries. One of the main factors propelling the market expansion is the fact that, if untreated, urinary tract infections (UTIs) can spread to the kidneys and result in birth complications in expectant mothers. Additionally, the 13.3 million people who experience acute kidney injury (AKI) worldwide each year run the risk of developing chronic kidney disease (CKD) or renal failure in the years to come, which is anticipated to drive market growth. Furthermore, it is anticipated that the technological advancements in urine analyzers will present prospective avenues for the expansion of the urinalysis market in the upcoming years.
The global urinalysis market is segmented by product type into two major categories: Instruments and consumables where the instrument is further segmented into automated urine analyzer, semi-automated urine analyzer, and point-of-care urine analyzer, consumables are further segmented into reagents, kits. Dipsticks, and disposables. The rising requirement and repeated purchases of the reagents and dipsticks by hospital and clinical laboratories account for most of the demand for consumables. Dipsticks, which obtain the maximum share of market consumption, are by far the most widely used urinalysis consumable. Reagents are used to quantify the relative concentrations of specific constituents in the urine. However, such convenience and accessibility innovative consumables like point-of-care testing devices and rapid test kits create, further fueling the accessibility and convenience that urinalysis contributes to. Multiple major providers like Siemens Healthcare GmBH, Abbott, and Roche are currently offering high-quality urinalysis test consumables in the market, which is expected to boost the growth of this segment.
The global urinalysis market by test type is segmented into biochemical urinalysis, pregnancy & fertility urinalysis, and sediment urinalysis. A urine test can detect pregnancy, dehydration, kidney and bladder infections, and preeclampsia. Blood sugar test results might show that gestational diabetes could be revealed during the 20th week of pregnancy. Pregnancy tests look for the presence of human chorionic gonadotropin (hCG) hormone which occurs in women’s bodies during pregnancy. With these tests, hCG can be detected in either urine or blood. Pregnancy urine tests are cheap and readily available in every home. When done properly, those home pregnancy tests can be pretty accurate. Development in the Segment will be due to increasing urinalysis demand for pregnancy and fertility detection. There have been numerous studies performed to assess how urinalysis can identify pregnancy.
The global urinalysis market by application is segmented into urinary tract infections, diabetes, kidney diseases, liver diseases, pregnancy and fertility, and others. Urinalysis has been an essential screening test for diabetes, and one of the main engine drivers in market growth is the increasing number of diabetic patients everywhere. Obesity is the biggest risk factor for developing a type 2 diabetic condition. The increasing incidence of obesity in the population in recent decades has been the foremost contributor to the increasing cases of diabetes. Moreover, according to projections by IDF in the year 2014, there will be an estimated number of about 783 million adults – 1 in 8 – living with diabetes by the year 2045. An increase of 46% will be added. The majority of patients, over 90%, are classified as having type 2 diabetes. This type usually develops under the interaction of different factors, such as genetics and the environment, including age as well as demographic and economic status.
The global urinalysis market by end-user is segmented into hospitals & clinics, diagnostic laboratories, research & academic institutions, and home care settings. The developing environment sustained by clinical laboratories increased by easier customer access and newer products. One such clinical test in this context is urinalysis, which is performed in more than 20,000 clinical laboratories across the U.S. Proteomics, genetic testing, microarray technology, biomarkers, and other innovative testing methods have been used in developing the techniques to improve the identification of kidney disease.
Based on geography, the North American region of the global urinalysis market is growing significantly. The North American market is anticipated to hold a substantial market position because of the ageing population and the high prevalence of chronic kidney disease. CKD is associated with diabetes, high blood pressure, and kidney failure. The National Kidney Foundation reports that each year, CKD claims more lives than prostate and breast cancer combined. Kidney disease is a leading cause of death in the United States. About one in five adults with high blood pressure and one in three people with diabetes have kidney disease. As a result, there is an increasing need for precise CKD diagnosis and treatment, which will probably increase the need for urinalysis.
As a part of the report, the major players operating in the Global urinalysis market that have been covered are ARKRAY, Inc., 77 Elektronika Kft., Siemens Healthineers AG, F. Hoffmann-La Roche Ltd., Beckman Coulter, Inc., Abbott Laboratories, Sysmex Corporation, Neomedica d.o.o. Mindray Medical International Limited, Analis sa/NV.
View a sample of the report or purchase the complete study at: https://www.knowledge-sourcing.com/report/global-urinalysis-market
The market analytics report segments the global urinalysis market as follows:
Ethernet Cable Market size worth US$30.453 billion by 2029
Press ReleasesThe ethernet cable market is worth US$15.900 billion in 2024 and is predicted to witness growth of 13.88% CAGR over the projected period to account for US$30.453 billion by 2029.
An ethernet cable is a type of cable, which connects the router, modem, or network switch to the computer. The ethernet cable allows the computer to the access local area network (LAN) and is also used to connect devices to the internet. Ethernet cables offer a wider range of advantages over wireless connection solutions, as they offer relatively lower latency to the network connection, and it is also among the cheaper sources of internet connectivity. The ethernet cable also offers the users secure connectivity, as the wired network connection offers a lower risk of breaches or hacking attempts. There are various types of ethernet cables available across the market, which include fast ethernet, gigabit ethernet, 10 gigabit ethernet, and switch ethernet, which offer different data transfer speeds.
The global ethernet cable market witnessed several major introductions of technologies, that aimed to boost the capability of these cables. With the increasing demand for technological advancements across the globe, the market for ethernet cable is also expected to grow, as these cables offer a faster, and secure network connectivity solution. Various companies and organizations introduced new technologies into the global ethernet cable market. For instance, in April 2024, LAPP, a global integrated solutions for cable and connectivity technology provider, launched its first bio-cables for the series production of its ETHERLINE FD bioP Cat.5e. This data cable consists of bio-based sheath material and consists of 43% renewable raw material.
The type segment of the ethernet cable market is categorized into coaxial, twisted pair, and fiber optic. The fiber optics category, in the type segment of the global ethernet cable market, is forecasted to attain greater market share. Fiber optics technology is among the latest technologies in wired data transfer, in which the information is transmitted as a light pulse along the plastic or glass fiber, embedded inside the cable. The fiber optics solution offers several benefits to the users, compared to other categories, as it ensures a high-speed transfer of data, generally at the speed of 1 Gbps, which is about 10 to 20 times faster than other cable technology. The fiber optics also offers better reliability and multi-device connectivity. The fiber optics technology also ensures the safety of the data transferred.
The ethernet cable market, under the shielding segment, is categorized into shielded and unshielded. In the shielding segment of the ethernet cable market, the unshielded category is forecasted to attain maximum market share. An unshielded ethernet cable is a type of ethernet cable which do not include an extra layer or screen of aluminum sheet, for protection from nearby sources of electromagnetic interference (EMI). These types of cables are generally used across residential or commercial interfaces, where the risk of interference is lower. The unshielded ethernet cables are less expensive as compared to the shielded cables and also offer flexible usage. The unshielded cables are also easy to install and support a wide range of devices and connectors.
By end-user, the ethernet cable market is categorized into residential, commercial, and industrial. Under the end-user segment of the global ethernet cable market, the commercial category is forecasted to attain a greater share. In the commercial sector, ethernet cables offer a wide range of applications, across multiple industries, like banking, government, and IT & telecommunication. In the commercial setting, ethernet cables are used to ensure high speed and secure network connectivity.
Based on geography, the Asia Pacific region is anticipated to attain significant growth in the global ethernet cable market. The Asia Pacific region is among the fastest-developing consumers of the Internet across the globe. Countries like India, Singapore, China, and Japan are among the countries that offer high-speed internet connectivity and are continuously evolving the technology to boost the speed of the internet in the region. Similarly, the growth of the data center landscape in the region is also expected to boost the ethernet cable market in the Asia Pacific. The Asia Pacific region has grown as the global hub for data center solutions and infrastructure, which majorly uses ethernet cables to connect multiple servers and offer high-speed and secure data transfers. Countries like India, Taiwan, and Singapore have introduced multiple policies and investment opportunities to create technologically advanced data center solutions across the region, boosting the demand for ethernet cable across the region.
The research includes several key players from the ethernet cable market, such as Belden Inc., Lapp Group, igus, Gore, LEONI, Southwire Company, LLC, Prysmian Group, Hitachi, Ltd., The Siemon Company, and Elettronica Conduttori Srl.
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This analytics report segments the ethernet cable market as follows:
Mashed Potatoes Market size worth US$5,372.489 million by 2029
Press ReleasesThe mashed potatoes market will reach US$5,372.489 million in 2029 at a CAGR of 6.94% from US$3,841.333 million in 2024.
In many regions of the world, especially in the Americas and Europe, mashed potatoes are among the most loved accompaniments. Packaged and convenience foods have continuously risen mainly due to urbanization and a more relaxed way of life. Since they are rich in starch and carbohydrates that often provide the bulk content of tasteful meals served as side dishes or food trains, mashed potatoes are one of the major components of many instant meals.
Moreover, concern for healthy eating borders and friendly environments welcomes the multi-cuisines unabated and has in a way contributed to the appreciation of mashed potions. Furthermore, the quickly growing number of aged people with their challenges, plus dental issues, has made consumers of all ages love mashed spots even more. For instance, World Bank figures show that in 2022 this figure accounted for 10%, but by 2050 it is projected to increase even further to 16%.
Another reason pushing demand for quick service further is the increasing hotel, restaurant and catering services (HoReCa) activities. This has stimulated the use of packaged and frozen food, and consequently the serving of mashed potatoes. Additionally, mashed potato blend cuts down on preparation time while maintaining the same consistency and flavour in every dish.
Furthermore, there are now a lot of options for mashed potato seasonings and garnishes due to the widespread availability of flavour customization. Customers are experimenting with unique cheeses, sauces, herbs, and flavours to enhance the appearance and flavour of mashed potato products. The art of designing finishes and seasoning is never complete; the outcome has no limits, from conventional choices like butter, garlic and herbs to extreme ones such as bacon or truffle oil. In the current scenario where more and more people are adopting vegetarian and plant-based diets, there is also a growing demand for vegetarian or plant-based alternatives to mashed potatoes.
The mashed potato market, by application, is divided into two types- Food ingredients and food products where food products are further segmented into snacks and culinary, one of the most popular sources of mashed potatoes is found in different varieties of food, for instance in western styled food orders made in cafes and hotels. Mashed potatoes can be found on menus featuring fusion cuisine or international fare, though they are not as common as they are in Western countries. In many countries, convenience stores sell pre-packaged mashed potato products that are frequently served in bento box meals or flavoured with seasonings.
The mashed potato market, by form, is divided into two types: powder and solid. Mashed potatoes can be found in many different types of food, such as Western-style food orders that are placed in cafes and hotels. Though not as prevalent as they are in Western nations, mashed potatoes can be found on menus offering fusion cuisine or international fare.
Moreover, convenience stores across many countries sell pre-packaged mashed potato products that are often served in bento box meals or seasoned.
The mashed potato market, by distribution channel, is divided into two types: The largest distribution channel segment belongs to the foodservice industry comprising all accommodation establishments, restaurants and catering. This is because the hospitality sector has the greatest appetite for convenient ready-to-eat mashed potato mixes that can be used at any time and any place. The retail portion is made up of supermarkets, hypermarkets, and online retail, which is comparatively increasing at a steady rate. This is due to the rising inclination towards home-cooked meals and the increasing availability of shelf stable ready-to-eat mashed potatoes in retail.
During the projected timeframe, it is anticipated that the market for mashed potatoes will experience remarkable growth within Asia Pacific. Increases in pre-packaged food products, particularly meals on the go, have proven to be one of the many contributors to the rising demand for mashed potatoes in the USA. Moreover, in some fast-food-styled cuisines, boiled –pounded- or baked–pureed- potatoes with the addition of milk are present. Taking into consideration the ever-increasing fast foods and quick service restaurants in the country, it is expected the consumption of mashed potatoes will pile up together with the rest. Mashed potatoes are also a product that the famous fast food chain KFC is planning to offer.
Due to its unique taste, low prices and multi-functionality mashed potatoes are likely to become a popular dish served as a side or a main meal. Idahoan Foods has an intention to diversify its product range, as an important supplier of fresh potato products in the US, and includes investments, not only in this type of food but in new product development as well, which should create new growth potential for the US market.
The research includes several key players from the mashed potato market, such as Hungry Jack’s, Pomuni, Unilever Food Solutions, Post Holdings Inc., Agristo, McCain Foods Limited, Idahoan Foods LLC, and Hormel Foods, LLC.
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The Mashed Potatoes Market is segmented and analyzed as below:
Top Companies in the Plant-Based Eggs Market: Pioneers and Innovators to Watch
Thought ArticlesPlant-Based Eggs Market Overview
The market for plant-based eggs has gained momentum in recent years because of the increased consumer demand for cruelty-free, environmentally friendly, and health-savvy egg alternatives to conventional eggs. Plant-based eggs, which include substitutes made from plant proteins, are becoming increasingly popular in developing parts of the world, driven by veganism, environmental awareness, and ethical concerns related to animal agriculture. The growing global vegan population has also spurred companies to innovate in this space. For instance, according to data from 2022, 1.3% of Italians were vegans, but by 2024, this figure had risen to 2.3%.
Source: World Animal Foundation
Dive Deeper into the Plant-Based Eggs Market
This overview highlights key trends. Our comprehensive market report offers detailed insights, growth forecasts, and competitive analysis to guide your strategy in the plant-based egg industry.
Top Companies in the Plant-Based Eggs Market
Let’s explore each in detail.
Eat Just (formerly Hampton Creek)
Eat Just has transformed the industry with its Just Egg brand, a mung bean-based liquid egg substitute launched in 2017. This product replicates the flavor and texture of scrambled eggs while being environmentally friendly and cholesterol-free. Just Egg is now a household name, available in thousands of supermarkets and food service outlets across North America, Europe, and Asia.
Just Egg uses 98% less water, occupies 83% less land, and generates 93% fewer greenhouse gases compared to traditional eggs. The company has also introduced a foldable Just Egg breakfast sandwich patty and is exploring vegan omelettes and egg whites to target new niches in the egg market.
Explore the Global Plant Protein Market
Plant-based eggs rely on innovative plant protein formulations. Our in-depth report on the Global Plant Protein Market provides trends, applications, and forecasts to help you stay ahead.
Impossible Foods
Impossible Foods, renowned for its plant-based burgers, entered the egg market with Impossible Sausage Made from Plants in 2020. Using soy protein, plant-based lipids, and seasonings, this product mimics the taste and texture of eggs, making it a strong contender in breakfast offerings. Their focus on sustainability and innovation positions them as a key player in the broader plant-based food market.
The Every Company
The Every Company, formerly Clara Foods, uses fermentation technology to produce animal-free egg whites. By modifying yeast or microbes to create proteins identical to those in conventional eggs, they offer sustainable egg whites for protein smoothies, baked goods, and processed foods. Their scalable platform positions them for significant growth in the alternative protein market.
Understand the Alternative Protein Market
The Every Company’s fermentation technology is reshaping protein production. Get our Alternative Protein Market report for insights into trends, innovations, and growth opportunities.
Vegg
Vegg produces plant-based egg alternatives using nutritional yeast, chickpea flour, and spices to replicate the flavor, texture, and functionality of eggs. Their Vegg Powder can be used for scrambled eggs, vegan omelettes, and French toast, appealing to both home cooks and vegan chefs for its versatility.
Follow Your Heart
Follow Your Heart, a leader in plant-based alternatives, offers Just Scramble and other egg-free products for scrambled eggs, omelettes, and baked dishes. Popular among vegans and vegetarians, their products are widely available in supermarkets and restaurants, capitalizing on the growing demand for sustainable, plant-based diets.
Conclusion
The plant-based egg market is growing rapidly, driven by innovation and sustainability. From established brands like Eat Just and Impossible Foods to specialized players like Vegg and The Every Company, the industry is vibrant with new developments. As consumer preferences shift toward plant-based and sustainable food options, these companies will shape the future of egg substitutes, fueled by advances in food technology and increasing investments.
Stay Ahead with Our Plant-Based Market Research
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How Efficient Battery Cooling Systems Are Shaping the Future of Electric Vehicles
BlogA battery cooling system is defined as a way of controlling the temperature of an electric vehicle (EV) during performance or while charging. The battery charging method serves effectively in improving the life of an EV battery while also increasing performance with quick charge time. Battery cooling in an EV is a key area in designing and operating its systems since it is vital to keep a favorable temperature range for battery cells to achieve optimum performance, longevity, and safety. Three main kinds of EV battery cooling systems are present in the market: air, liquid, and fan. Various types of EV battery cooling systems apply to different classes of vehicles, including battery electric vehicles, hybrid-electric vehicles, and plug-in hybrid electric vehicles.
The growth of the global EV battery cooling industry is projected to be driven by increased consumer acceptance of EVs, rising safety concerns about EV batteries, advancements in cooling technology that reduce the heat more efficiently than traditional air cooling, and other encouraging government initiatives related to clear transportation strategies indirectly leading to rise in necessity of battery cooling systems which is driving the market growths of EVs.
This EV battery cooling demand is chiefly driven by the escalating requirement for thermal management of batteries in EVs and the shift towards using EVs as a means to have a greener world and improved technology, which are all setting favorable conditions for market growth while creating opportunities for efficient battery cooling systems. International Energy Agency (IEA) predicted in their report regarding global forecasts for emerging EVs projected in 2023 that the market is going to see potential growth in 2024, where sales would be over 20 percent higher than that of 2023, with EVs likely to account for more than one-fifth of the total market sales.
According to the report “Trends in Electric Cars,” IEA 2023 estimated that registrations of BEVs increased from 7.3 million in 2022 to 9.5 million in 2023 while PHEVs increased from 2.9 million in 2022 to 4.3 million in 2023 globally. Since the world is rapidly moving toward EVs, a more sophisticated battery cooling system is vital for accelerating the acceptance of EVs around the globe in the future.
Figure 1: Increase in Electric Vehicle Registration in the World, in Million, in 2022 and 2023
Source: International Energy Agency (IEA)
Furthermore, the IBEF statement indicates that the Indian government emphasized making at least 30% of new vehicle sales electric by 2030. It would generate more than $200 billion in investment opportunities in the years to come and become the largest EV market. In addition to this, modern EVs integrate BMS (battery management systems) with advanced cooling technologies, thus improving the monitoring and regulation of battery temperature. Thus, will require the use of battery cooling and eventually lead to the market.
Similarly, the International Energy Agency (IEA), published a report indicating the world trends in EVs sales. The sales of electric cars for developed countries such as China recorded a super huge 6 million cars sold in 2022 and were forecasted to account for 10.1 million vehicle sales by 202. Similar trends were recorded with electric cars sold in Europe and the USA in 2022, which were about 2.7 million and 1 million, respectively. This increased about 3.4 million total EV sales recorded in Europe in 2024, while in the USA, about 1.7 million were sold. This will also result in increasing demand for efficient battery cooling systems to regulate heat generation in EVs, which will contribute to the continuous rise in demand for EVs.
Figure 2: Increase in Sales of Electric Cars in the World, in Million, in 2022-2024
Source: International Energy Agency (IEA)
It is also estimated that a significant portion of the battery cooling system requirement in EVs will be witnessed in the Asia Pacific region. This is because the Asia Pacific region is expected to gain a greater market share in the global EV battery cooling system sector since this region is one of the fastest-growing geographies for the EV industry and is also promoting the technologically advanced EV landscape. Countries that are working towards developing their manufacturing EV sector and building technologies surrounding their use include the Asian Pacific countries, China, Japan, and Taiwan. Additionally, there is a huge influx of investments, both governmental and private, around the region, especially in countries such as India, China, and Vietnam, investing in the Asia Pacific region specifically for EV technology development and EV adoption growth in years to come.
In addition, more than half of the total market for consumption of EVs belongs to Chinese manufacturers, while BYD planned to establish its EV factory in Thailand by 2024 and has committed to spending for this project around 500 million US dollars to potentially expect an output of about 150,000 vehicles yearly. The aspirational goal for Thailand is to evolve into a hub of major EV manufacturing enterprises that can quickly source USD 28 billion in foreign investment in four years while giving specific incentives to attract investment.
Further, the demand for EVs is growing in other Asian Pacific countries like India. The report of India Brand Equity Foundation stated that in 2021, around 3.31 million EVs were registered in India, and this number grew to about 10.2 million in 2022. In 2023, this figure was recorded at approximately 15.29 million, which shows a growth rate of more than five times compared to 2021.
Moreover, TotalEnergies updated immersion cooling for their batteries in October 2022, where they partnered with Valeo in order to innovate new approaches in the cooling of EV batteries with superior dielectric fluids into highly efficient systems. This partnership is aimed at increasing the utilization level of EVs while decreasing the carbon footprint of EVs. Furthermore, the latest technology and advanced cooling systems are innovating increased thermal efficiency, when compared to traditional air cooling, which will set the pace for global demand for EVs in the coming years.
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AI Quality Inspection Market size worth USD12,136.294 million by 2030
Press ReleasesAI quality inspection helps collect and analyze variances through software-driven artificial intelligence and vision technologies in the production of products such as semiconductors, pharmaceuticals, textiles, and automobiles among others. With their precise and less time-consumed features, quality check applications that are owned by AI are thus permeating more in the semiconductor industries and the medical, clothing, automotive industries, etc.
Moreover, many advanced manufacturing firms in the world implement artificial intelligence-based quality control techniques because they are more accurate compared to the traditional approach of controlling quality manually. Therefore, it can be said that several reasons will enhance the demand for AI-based quality control systems other than the existing need for AI-based products, it is almost obvious that the business of such systems will increase within the forecast period.
The rise in operating expenses for manufacturing firms due to the production of subpar goods is the cause of the growth. In large batches, the human eye’s manual quality control may not always be able to identify these failures. Leading manufacturers around the world are aggressively investing in AI-based quality inspection software to get around this restriction, find faulty products sooner, and avoid further costs.
Furthermore, unrealized opportunities in developing regions seem to present an opportunity for the vendors of AI visual inspection systems to widen their customer base and establish themselves in fast-industrializing and technology-savvy areas. Developing countries often have a growing manufacturing industry and a transcending economy, making them ideal candidates for advanced inspection technologies. The providers of AI visual inspection systems have the unique opportunity of availing their cutting-edge solutions in these regions due to the lack of developed infrastructure and processes that usually serve the people’s needs in such places.
The AI quality inspection market, by type, is divided into two types- pre-trained and deep learning. Examples of artificial intelligence are deep learning models, which are modelled on the multi-layered neural structure of the human brain. Because such models are fed with a good amount of data, they can also understand non-visual features and patterns in the images. Visual inspection systems deploy deep networks to understand images and videos by locating imperfections, defects or specific features with accuracy.
On the other hand, pre-trained models are offered as artificial intelligence models trained before on wider image identification and object recognition using very large datasets. These models are then modified or transformed to meet the very demanding visual inspection applications. Pre-trained these models facilitate faster deployment and reduce the training periods because all the knowledge gained is put into use from previous learning stages.
The AI quality inspection market, by end-user, is divided into five types: Semiconductor, healthcare, manufacturing, textile, and others. Due to the growing use of IoT technologies, smart devices, and networked systems, product failures have a substantial effect on user confidence, data security, and brand equity. The global trend of regulatory bodies tightening controls to impose stricter laws and regulations on the quality and safety of products exacerbates this. Besides being a legal requirement, it is also a strategic option to comply with these rules since any deviations from them can lead to huge fines, legal issues, or tarnishing the image of the concerned brand.
Moreover, the rising importance placed on quality control in many sectors also emphasizes the need to be able to detect and take corrective actions for all potential quality problems in the shortest possible time, across the entire product life cycle. Strong quality assurance can help businesses minimize risks and maximize performance.
During the projected timeframe, it is anticipated that the market for AI quality inspections will experience remarkable growth within North America. North America has been making significant investments to broaden the use and scope of AI software, including AI quality control and inspection, as a powerful technological evolution force in the global artificial intelligence market. The leading software companies are developing and competing with one another to expand their portfolio of AI products and services. For example, Spyglass Visual Inspection, a virtual AI quality inspection tool from Microsoft, combines technology services to find any flaws in products.
Moreover, using a federated learning model, IBM has unveiled its most recent AI quality inspection product. In addition to these well-known businesses, several American startups are focusing their product lines on developing new models and techniques to enhance AI-assisted quality inspection. For example, IHI Corporation, one of the world’s top manufacturers, has adopted the AI-based quality control application developed by Neurala Inc., a Boston startup. As a result, it is reasonable to assume that the North American AI quality inspection market will grow during the forecast period given current market trends and recent advancements in AI quality inspection products in the USA.
The research includes several key players from the AI quality inspection market, such as Intel Corp, Kitov Systems, Mitutoyo America Corporation, Landing AI, NEC Corporation, tunic AG, device GmbH, craftworks GmbH, Pleora Technologies Inc.
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Report Coverage:
The analytics report categorizes the AI quality inspection market using the following criteria:
How Rising E-Commerce is Boosting Demand for Refrigerated Transport Services
Thought ArticlesThe growth in e-commerce sites, especially food and grocery sectors, has resulted in a considerable increase in demand for refrigerated transportation services, especially as the mode of shopping changes to one that encourages purchases of perishable foods for direct home delivery. Most consumers expect fresh and frozen foods, high-convenience food and beverage products, to be delivered swiftly and availably to their homes, proving yet another compelling attribute for companies to invest heavily in making their cold-chain refrigerator systems more efficient.
The demand for refrigerated transportation is predicted to be propelled by the expansion of e-commerce platforms, especially those like Instacart and Amazon Fresh. World e-commerce has increased the importance of refrigerated transportation for international delivery and timely delivery of perishable goods like food and beverage, and pharmaceutical products across borders. For example, India produces low-cost vaccinations for the global market. The world’s 60% vaccination coverage is accounted for by India, and 70 percent of the total DPT and BCG vaccines, and 90 percent of measles vaccines are all available in the country. For this continuous rise, maintenance of ambient conditions for these products is becoming a developing and evolving innovation of the industry in refrigerated transport.
Besides, in the report from APEDA Agri Exchange Source for fruit juices on data related to the expansion of juice segment volume, the worldwide total volume, which was 36,223.6 million liters in 2022, is expected to increase to 36,809 million liters by 2023. Most of this is taken by orange juice, followed by other juices which is expected to contribute to the rising demand for refrigerated transport services, since these will require effective refrigerated transport for quality maintenance and extension of shelf life.
There exists a global demand for temperature-sensitive goods, primarily fresh food and medicines, driven by the growth of e-commerce. Companies in the refrigerated sector, in turn, enable the capability of e-commerce players to be able to meet the demand for freshness and quality by their consumers. Innovative refrigerated containers and reefer trucks are doing wonders for changing the way temperature-sensitive goods are delivered and transforming holistic e-commerce landscapes while being indispensable components for industry growth.
According to the Dubai World Trade Center January 2023, the pharmaceutical market of UAE is expected to reach US$4.7 billion by 2025 and these consist of around 23 manufacturing centers and nearly 2,500 medicines produced locally by 2023. Furthermore, the pharmaceutical export value of the nation is estimated to capture approximately US$297 million by 2025 and project a growth of 21% from 2021. Furthermore, within the online pharmaceuticals industry, increasing demand for reliable refrigerated transport is shaping up for both efficient delivery and a cold supply chain for temperature-sensitive medicines such as vaccines, antibiotics, and insulin.
With online remodeling getting higher, with the meat and dairy industry rising and leading to an increase in cross-country demand, the market in fresh and frozen food delivery continues to show upward growth. Refrigerated companies now offer refrigeration container boxes capable of keeping perishable items fresh and maintaining good quality. They provide suitable environments for delivery, and the temperatures help prevent item spoilage for their clients, thus delivering fresh and quality guaranteed supply to consumers. Thus, there is an increase in the trend of buying fresh items online, which is making the demand for refrigerated transport services increase. Retail channels that deal in perishables items, such as those offered via online shopping platforms, are already showing positive growth. For instance, statistics from the United States Census Bureau showed that retail e-commerce sales in the country amounted to US$ 300.1 billion in the third quarter of 2024.
Figure 1: Increase in Volume of Juice Segment in the World, in Million Liters, in 2022 and 2023
Source: APEDA Agri Exchange
One of its components is online and thermal features, like GPS-tracking and temperature-controlling systems, through which they can maximize and monitor their cold chain logistics activities. Thus, this would stimulate an increased demand for such a kind of system. This demand would yield a better return owing to the growth of the e-commerce sector. In this context, in November 2024, Carrier Transicold displayed future-ready digital and refrigeration transport systems to assist cold chain solutions at Intermodal Europe in Rotterdam, The Netherlands.
Additionally, cold chain transportation is rapidly increasing throughout the continents as it had to do with the development of e-commerce in Europe due to the high expectation of many consumers on freshness and quality of food. It is also very much because of an increase in the requisite speed and reliability in delivering certain ranges of temperatures. Thus, effective refrigerated transport would ensure the integrity of perishable goods. For instance, in June 2024, MHI Thermal Systems introduced a new electric-driven transport refrigeration unit, TEK Products, specifically designed for use in small and mid-size trucks. These will feature pressure for European delivery and the plug-in-hybrid will take care of the inside temperature while not moving in the future during parking and idling. It meant improving cooling/heating capacity expanded to include small and mid-size trucks beyond the TE20/30 series’ mountable range.
Similarly, in June 2024, Sunswap, the manufacturer of Endurance, associated with MAN Truck & Bus to test its Latest TGX 4×2 eTruck, in the UK. The press event was for customers at HORIBA Mira Test Track to showcase this collaboration as another milestone in implementing a sustainable cold chain with an electric truck and a fully electric refrigeration unit.
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EV Motor Market is expected to grow at a CAGR of 14.88%
Press ReleasesThe EV motor market is expected to grow at a CAGR of 14.88% during the forecast period (2024-2029).
An electric vehicle (EV) motor turns electrical energy into mechanical energy giving torque and power to move a vehicle forward. It gets electricity from the vehicle’s battery, makes a magnetic field, and creates mechanical energy by spinning. This mechanical energy goes to the wheels through the vehicle’s drivetrain. EVs utilize three primary types of motors that are induction motors, permanent magnet synchronous motors and switched reluctance motors. These motors are used for diverse purposes to increase the productivity and effectiveness of the EV by producing efficient power.
The market for EV motors is witnessing strong expansion due to supportive government initiatives and policies, a rise in self-driving vehicles, the development of charging facilities, and the incorporation of EVs into smart grids. The environmental concern posed by the enhancement of vehicle technology has increased the adoption of EVs. Lower costs have made EVs cheaper so more people can afford them. Gas prices are rising quickly making regular cars pricier to run, which makes EVs a smarter choice in perspective of cost. Moreover, the buyer’s preferences are changing with more individuals wanting electric cars, which drives up the need for EV motors.
The market is witnessing diverse collaborations and innovative technological advancements, for instance, the E-Axle produced by Nidec corporation in October 2022 is a second-generation Electric Vehicle drive motor system that provides a 135kW output, weighs around 57kg weight, and 2,400Nm power.
Based on the vehicle type, the EV motor market is divided into two-wheelers, passenger vehicles, three-wheelers, and commercial vehicles. Passenger vehicles will have a significant role in the growth of the EV motor market in the years ahead. This is because more people are becoming mindful of the advantages of EVs. Also, battery charging stations and motor design technology are getting better. On top of that, governments are offering tax cuts, funds, and free charging spots. All of this makes EVs more useful and attractive to an increasing number of buyers.
Based on the components, the EV motor market is classified into rotor, shaft, motor stator, and bearing, permanent magnet, casing, and wiring & connectors. Permanent magnets will have a significant share in the growth of the EV motor market during the forecasted period due to their properties and they store more power in a smaller space. Moreover, with advancements in these components, they are increasing in demand. They turn more electricity into motion, which means EVs can go farther on a single charge and use less energy overall.
Based on the power rating, the EV motor market is categorized into up to 20KW, 100KW to 250KW, 20KW to 100KW, and above 250KW. The market segment for EV motors with power ratings above 250KW is set to expand due to heavy-duty uses like commercial trucks, buses, and construction equipment. As governments and companies switch to EVs, they need more high-power EV motors. New technology in motor design, power electronics, and batteries allows manufacturers to build stronger and more efficient EV motors for these applications.
Based on geography, the EV motor market is extending majorly in the Asia Pacific region due to various variables. The region of Asia Pacific is witnessing the growth of EV motors because of its growing economy, the presence of large EV manufacturers in countries like China, Japan, and India, and its proximity to cheap labor and production. However, the rise in population moving to cities, and new tech developments, will contribute to more EV adoption, leading to regional market growth.
As a part of the report, the major players operating in the EV motor market that have been covered are Aisin Seiki Co. Ltd, Toyota Motor Corporation, Hitachi Automotive Systems, DENSO Corporation, Honda Motor Company Ltd, Mitsubishi Electric Corp., Magna International, Robert Bosch GmbH, BMW AG, Nissan Motor Co. Ltd, Tesla Inc., Toshiba Corporation, and BYD Co. Ltd.
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This analytics report segments the EV motor market on the following basis: