What the Future of United States Agriculture Drone Market Looks Like (2022-2028)?

 

United States Agriculture Drone market was valued at US$ 72.10 million in 2018 and is anticipated to reach US$ 144.8 million by 2025 displaying explosive CAGR of 9.96% over the forecast period (2019-2025). Drone technology in agriculture has moved rapidly through the technology hype sequence, from curiosity to irrational exuberance to overblown misfit. The progressive automation of agricultural processes has significantly improved the productivity of agriculture labor, shifting masses of workers into other productive industrial areas. Since then, scientific advances in chemistry, genetics, robotics, and many other applied sciences have fueled the accelerated development of agricultural technology. Drone technology and advanced image data analytics with the capabilities it provides have the potential to become important parts of the technology mix that could fill the gap.

𝐓𝐨 𝐆𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐟𝐮𝐥 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 - https://univdatos.com/get-a-free-sample-form-php/?product_id=6901

Agricultural drones can carry a large payload of spray and can be operated more safely at a fraction of the cost compared to crop dusters, and more efficiently than manually spraying from a vehicle. The drone technology sector as well as image data processing and analytics are all in a constant state of change and development. There is a range of technologies in the development pipeline that can potentially transform the sector in the coming years. This would most likely lead to the immediate development of new uses in the agriculture industry or strengthening the impact of UAV technology in existing ones. One of the leading examples is rapid development in the field of machine learning and deep learning. Drone technology and advanced image data analytics tools are of great potential for the agriculture industry.

Based on the drone type, the market is bifurcated into fixed-wing drones, multi-rotor drones, and hybrid drones. The fixed-wing drone dominated the market with 47.2% share in 2018 and is anticipated to maintain its dominance throughout the analyzed period. The fixed-wing drones are often preferred by farmers because they can cover more area and spend more time in the air than a multi-rotor platform.

𝐓𝐨 𝐆𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐟𝐮𝐥 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 - https://univdatos.com/get-a-free-sample-form-php/?product_id=6901

The several applications of agricultural drones include field mapping, soil monitoring, agriculture photography, crop spraying, crop monitoring. In 2018, the crop spraying dominated the market with revenue of US$ 19.45 million and is anticipated to maintain its dominance during the forecast period. Typical modern-day spraying drones have a tank capacity of over ten liters of liquid pesticide with a discharge rate of over a litre a minute, allowing them to cover a hectare in ten minutes. However, to leverage drone technology fully as a spraying platform, the spraying needs to be paired and synchronized with the above-mentioned imaging, processing, and automated analytics capabilities to address the affected areas or plants with precision. Such an approach would lead not only to the improvement of dosage in the affected areas but also to a reduction in the overall use of chemicals within the area.

For a better understanding of the overall adoption of the agriculture drone in the US, detailed regional level analysis was conducted including North East, Midwest, South, and West region. Among all these regions, the Mid-West region is expected to witness considerable growth over the analyzed period due to increasing technological advancement and infrastructural development in the region.

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Some of the major players operating in the US agricultural drone market include Aero Vironment Inc, Trimble Inc, AgEagle Aerial Systems, Inc., Precision Hawk, Senetra, Drone Deploy, Deveron, DJI, Intel, and John Deere Company. These companies are entering into partnership or investing in R&D to come up with innovative products for the agricultural sector. US agricultural drone market also witnessed the emergence of various start-ups in the recent past.

Global US Agricultural Drone Market Segmentation

Market Insights, by Drone Type

·       Fixed-wing Drone

·       Multi-Rotor Drone

·       Hybrid Drone

Market Insights, by Application

·       Field Mapping

·       Agriculture Photography

·       Crop Spraying

·       Crop Monitoring

·       Soil Monitoring

·       Other Applications

Market Insights, by Region

·       Mid-West

·       South

·       North-East

·       West

Top Company Profiles

·       AeroVironment Inc.

·       Trimble Inc.

·       Deere and Company

·       AgEagle Aerial Systems, Inc.

·       Drone Deploy

·       DJI Technology Co Ltd

·       Deveron UAS Corp

·       Intel Corporation

·       Precision Hawk

·       Sentera

What the Future of Contraceptive Drugs and Devices Market Looks Like (2022-2028)?

 

A comprehensive overview of the Contraceptive Drugs and Devices market is recently added by UnivDatos Market Insights to its humongous database. The Contraceptive Drugs and Devices market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, opportunities, and trends prevailing in the market. This innovative report makes use of several analyses to get a closer outlook on the Contraceptive Drugs and Devices market. The report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Contraceptive Drugs and Devices market at the global and regional levels. Global Contraceptive Drugs and Devices Market is expected to witness a considerable CAGR of 5.6% from 2021-2027 to reach US$ 36.9 billion by 2027.

Market Overview

Contraceptive Drugs and Devices Market is booming due to the rising incidence of Sexually transmitted diseases (STD) coupled with the surging stringent regulations by the government across countries etc., Moreover, the increase in the rate of unintended pregnancies and the rise in awareness of contraceptive methods amongst people are all expected to result in an inflated revenue share in the future. As per WHO, Among the 1.9 billion Women of Reproductive Age group (15-49 years) worldwide in 2019, 1.1 billion need family planning; of which, 842 million are using contraceptive methods, and 270 million have an unmet need for contraception.

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COVID-19 Impact

Due to COVID-19, each industry is affected. Moreover, it is long-term effects are going to influence the growth of the industry in the upcoming period. COVID-19 is anticipated to harm the Contraceptive Drugs and Devices market growth during the forecast period. As per WHO, due to COVID-19, 7 in 10 countries have disrupted health services in contraception and family planning. There is a huge disruption in the manufacturing and supply chain of contraceptive pills which is leading to a decline in the market growth rate. The pandemic’s negative effects can be seen in the contraceptive drugs and devices market, as well as on its demand and supply.

Global Contraceptive Drugs and Devices Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

By Products type, the market is primarily bifurcated into:

·       By Drugs

o  Oral Contraceptives

o  Topical Contraceptives

o  Contraceptive Injectable

·       By Devices

o  Condoms

o  Diaphragms

o  Cervical Caps

o  Sponges

o  Vaginal Ring

o  IUD

o  Other Devices

Among drugs, the oral contraceptives segment dominated the market and will grow at a noteworthy CAGR by the year 2027. Among devices, the condoms segment dominated the market in 2020 and will grow at a notable CAGR during the forecast period 2021-2027.

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By Gender, the market is primarily segmented into:

·       Male

·       Female

Amongst Gender, both Male and Female accounted for the large share in 2020 and is expected to grow at a significant CAGR during the forecast period 2021-2027.

By Distribution, the market is primarily segmented into:

·       Hospital & Clinics

·       Retail Pharmacy

·       Online Pharmacy

·       Others

Amongst Distribution, the Retail Pharmacy segment dominated the global Contraceptive Drugs and Devices market and will grow at a noteworthy CAGR by the year 2027.

Contraceptive Drugs and Devices Market Geographical Segmentation Includes:

·       North America (United States, Canada, Rest of North America)

·       Europe (Germany, United Kingdom, Italy, France, Spain, and Rest of Europe)

·       Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific)

·       Rest of the World

North America is dominating the Contraceptive Drugs and Devices market in 2020 and is anticipated to maintain its dominance during the forecast period.

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The major players targeting the market include:

·       Bayer AG

·       Pfizer Inc.

·       Teva Pharmaceutical Industries Ltd.

·       Merck & Co., Inc.

·       Mylan N.V.

·       Allergan Plc

·       Agile Therapeutics

·       Piramal Enterprises Ltd.

·       GlaxoSmithKline PLC

·       Johnson & Johnson

·       Novartis AG

·       Sanofi

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Contraceptive Drugs and Devices market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

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Key questions resolved through this analytical market research report include:

·       What are the latest trends, new patterns, and technological advancements in the Contraceptive Drugs and Devices market?

·       Which factors are influencing the Contraceptive Drugs and Devices market over the forecast period?

·       What are the global challenges, threats, and risks in the Contraceptive Drugs and Devices market?

·       Which factors are propelling and restraining the Contraceptive Drugs and Devices market?

·       What are the demanding global regions of the Contraceptive Drugs and Devices market?

·       What will be the global market size in the upcoming years?

·       What are the crucial market acquisition strategies and policies applied by global companies?

We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs. 

What the Future of Image Recognition Market Looks Like (2022-2028)?

 

Image recognition is the ability of a system or software to identify objects, people, places, and actions in images. It recognizes images through a camera system using artificial intelligence, image processing techniques, and trained algorithms. Image recognition use cases can be found in various fields such as healthcare, marketing, transportation, and e-commerce.

The Image Recognition Market stood at around USD 31 billion in 2020 and is expected to grow at a steady rate of around 17% owing to the growing need for efficient and profitable retail execution processes while adhering to compliance standards. Furthermore, factors such as the increasing usage of AI and ML technologies, rising concerns in security and surveillance, and growing investments in AI and machine learning are also fueling the growth of the image recognition market. For instance, according to the AI Index 2021 Annual Report, global investment in AI, including private investments, IPOs, M&A, and minority investments, grew 40% in 2020 to a total of USD 67.9 Bn.

𝐓𝐨 𝐆𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐟𝐮𝐥 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 - https://univdatos.com/get-a-free-sample-form-php/?product_id=26187

According to UnivDatos Market Insights (UMI)’ research report “Global Image Recognition Market”, the market is expected to witness robust growth during the forecast period (2022-2028).

Based on technology, the market is classified into digital image processing, facial recognition, and pattern recognition. Among these, facial recognition technology is expected to grow at a high CAGR during the forecast period owing to its increasing applications such as biometrics, Information security, access control, law enforcement, smart cards, and surveillance system. Facial recognition is also used to identify people in videos, photos, or in real-time and is widely used in various sectors such as law enforcement, retail and e-commerce, BSFI, automotive, healthcare and medical sector, media, and entertainment.

Based on application, the market is segmented into scanning and imaging, security and surveillance, image search, augmented reality, marketing & advertising, and others. Marketing & advertising emerged as one of the most promising segments. This is primarily due to the rapidly growing demand from large and small businesses that enhance their marketing efforts with advanced advertising, customer interactions, branding, and others.

North America held a prominent share of market in 2020

North America accounted for a prominent share of the global image recognition market majorly due to the rising number of electronics gadgets and smartphone users integrated with image recognition applications in the region. Further, the increasing integration of artificial intelligence and mobile computing platforms in the field of digital shopping and e-commerce is also contributing to the growth of the image recognition market. In addition, the rising use of image recognition technologies by US Government organizations is another factor driving the market revenue growth in the region.

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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the image recognition market are Alphabet Inc., QUALCOMM Inc., Microsoft Corporation, IBM Corporation, Amazon.com Inc., Sony Group Corporation, Honeywell International Inc, Toshiba Corporation, Adobe Inc., and Scandit AG.

“Global Image Recognition Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.        

Market Segmentation:

1.     By Technology (Digital Image Processing, Facial Recognition, and Pattern Recognition)

2.     By Component (Hardware, Software, and Services)

3.     By Deployment (On-Premises and Cloud)

4.     By Application (Scanning and Imaging, Security and Surveillance, Image Search, Augmented Reality, Marketing & Advertising, and Others)

5.     By Region (North America, Europe, Asia-Pacific, Rest of the World)

6.     By Company (NortonLifeLock Inc., McAfee Corp., Palo Alto Networks Inc., IBM Corporation, Cisco Systems Inc., Check Point Software Technologies Ltd., BAE Systems plc, Rapid7 Inc., Dell Technologies Inc., and Verizon Communications Inc.)

Key questions answered in the study:

1.     What are the current and future trends of the global image recognition industry?

2.     How the industry has been evolving in terms of technology, component, deployment, and application?

3.     How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.     What are the key growth drivers and challenges for the global image recognition industry?

5.     What is the customer orientation, purchase behavior, and expectations from the global image recognition suppliers across various region and countries?

What the Future of Automotive Turbocharger Market Looks Like (2022-2028)?

 

An automotive turbocharger is defined as a small turbine that is placed between the engine and the exhaust. A turbocharger uses the exhaust gases to spin the turbine and improve the efficiency of fuel, increase the power of the car, and is used in light engine vehicles to put more horsepower and torque. In recent years, the demand for automotive turbochargers has increased dramatically due to the rising demand for light as well as heavy engine vehicles to enhance engine power, strict environmental regulations, demand for power-generating cars and to get fuel-efficient engines. Furthermore, the entry of global players into emerging markets adds to the growth of the market. For instance, In November 2020, Continental AG extended its line of turbochargers for new car models made by MINI, BMW, and Volkswagen Group.

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The Automotive Turbocharger Market is expected to grow at a steady rate of around 8% owing of the fuel-efficient engine and increase in the power of vehicles. Major companies in the market offer automotive turbochargers for vehicles to take a step towards advancement in high-volume models and making original products for workshops. For instance, in June 2021, BorgWarner announced a partnership with Alpine F1 Team in addition to their long-time collaboration on propulsion technologies.

Based on fuel type, the market is segmented into gasoline, diesel, and others. The gasoline fuel category witnessed a higher CAGR during the forecast period. As diesel engine offers less power output than gasoline engine and gasoline engine are easier to alter for achieving greater performance. Moreover, a gasoline engine produces less carbon dioxide as compared to other fuel engines which helps in improving the efficiency of turbochargers. Thus, automotive manufacturers are expected to diversify their products to fulfill the demand of consumers in the gasoline fuel segment.

Based on the application, the automotive turbocharger market has been classified into passenger vehicle, light commercial vehicle, heavy commercial vehicle, agricultural machinery, and others. Among all these, the passenger vehicle category is to witness higher adoption of automotive turbochargers during the forecast period. This is mainly due to the large population inclined towards high-performance and fuel-efficient vehicles. Moreover, the rise in the purchasing capacity of people is ultimately leading to a high number of production and sales of passenger vehicles across the globe. For instance, according to the Society of Indian Automobile Manufacturers, around 3,424,564 passenger vehicles and 756,725 commercial vehicles were manufactured in 2019-20.

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North America to witness extensive growth

For a better understanding of the market adoption of the Automotive Turbocharger industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the adoption of the high volume of commercial vehicles, rapid adoption of turbochargers by the automotive industry as well as technologically advanced functionalities are estimated to increase the growth of this market in this region. Moreover, the Environmental Protection Agency (EPA) has introduced regulations and standards to limit rising fuel emissions and has mandated that automotive manufacturers develop cleaner and fuel-efficient engines.

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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Automotive turbocharger market are ABB, Honeywell International Inc., BorgWarner Inc., IHI Corporation, Cummins Inc., Bosch Mahle Turbo Systems GmbH & Co. KG, Eaton Corporation plc, Weifang Fuyuan Turbocharger Co Ltd, Mitsubishi Heavy Industries, Ltd, Continental AG.

“Global Automotive Turbocharger Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.       

Market Segmentation:

1.     By Fuel Type (Gasoline, Diesel, and Others)

2.     By Technology (Variable Geometry Turbocharger, Wastegate Turbocharger, Electrical Turbocharger, and Others)

3.     By Application (Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle, Agricultural Machinery, and Others)

4.     By Region (North America, Europe, Asia-Pacific, Rest of the World)

5.     By Company (ABB, Honeywell International Inc., BorgWarner Inc., IHI Corporation, Cummins Inc., Bosch Mahle Turbo Systems GmbH & Co. KG, Eaton Corporation plc, Weifang Fuyuan Turbocharger Co Ltd, Mitsubishi Heavy Industries, Ltd, Continental AG)

Key questions answered in the study:

1.     What are the current and future trends of the global automotive turbocharger industry?

2.     How the industry has been evolving in terms of fuel type, technology, and application?

3.     How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.     What are the key growth drivers and challenges for the global automotive turbocharger industry?

5.     What is the customer orientation, purchase behavior, and expectations from the global automotive turbocharger suppliers across various region and countries?

What the Future of 3D Scanner Market Looks Like (2022-2028)?

 

The 3D Scanner Market is expected to register a CAGR of around 12% over the period of 2021-2027. The market is driven by increasing R&D spending and advancements in technology. Furthermore, the emergence of structured light technology is also expected to drive the growth of the 3D scanner market. In addition, 3D scanner technology saves time, money, and labor and improves output quality throughout the manufacturing process. Basically, a 3D scanner uses a laser, light, or X-ray to capture the dimensions of a real object and create a point cloud. Point clouds are used to create 3D models of scanned objects using the software.

 According to UnivDatos Market Insights (UMI)’ research report “3D scanner market”, the market is expected to witness robust growth of 12% during the forecast period 2021-2027F.

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Key factors that impact the growth of the global 3D scanning industry include ongoing technological advancements in 3D scanning paired with the surge in the need for highly accurate 3D scanning. Moreover, growth in the need to capture large volumes of 3D data for modeling and analysis is expected to drive the market opportunity. However, the dependence of market growth on non-3D businesses coupled with the high price of high-resolution 3D scanners acts as a prime barrier to early adoption, which hampers the growth of the market. On the contrary, growth in the 3D printing market generates demand paired with structured light-based 3D scanning, which is expected to offer potential growth opportunities for the 3D scanning market during the forecast period

Based on the type, the market is segmented into optical scanners, laser scanners, and structured light scanners. The laser scanner segment is expected to hold the majority of the 3D scanner market. Owing to its ability to capture millions of data points in seconds, this segment is gaining major market share. These scanners use laser light to capture the physical data in the environment. Laser scanners are generally ideal for scanning sensitive environments and objects.  

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Based on range, the market is segmented into short-range, medium-range, and long-range. The short-range segment is expected to hold the majority of the 3D scanner market due to the benefits such as its low-cost and numerous dynamic appeals. The short scanner operates in a range of 0.5 centimeters to 2 meters and is used in applications such as body scanning, medical application, and reverse engineering.

Based on offering, the market is segmented into hardware, software, and services. The hardware segment is expected to dominate the 3D scanner market during the forecast period. The advancements and adoption of new 3D scanner technology are expected to drive the market during the forecast period.

Asia pacific to witness extensive growth

Asia pacific holds the majority of the 3D scanning market owing to the presence of prime players in the region. Countries in APAC are involved in the manufacturing of defense aircraft, thereby leading to an increase in demand for 3D scanners for inspection applications in the aerospace and defense industry of the region. Growing population, flourishing economies (developed and developing), and ongoing government initiatives to promote industrial growth have made APAC an ideal destination for establishing the production units of various industries, including semiconductors, electronics, and automotive. The demand for automobiles in APAC is expected to grow in the coming years. This, in turn, will result in an increased production of vehicles in the region, thereby contributing to the demand for 3D scanners.

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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the 3D scanner market are Faro Technologies Inc., Creaform Inc., Direct Dimensions Inc., GOM GmbH, Konica Minolta Inc., Nikon Corporation, Autodesk Inc., 3D Systems Inc., ShapeGrabber, Maptek Pty Ltd. are some of the key players in the market.

“3D scanner market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.       

Market Segmentation:

1.     By Type (Scanners, Laser Scanners, Structured Light Scanners)

2.     By Range (Short-Range, Medium-Range, Long-Range)

3.     By Offering (Hardware, Software, Services)

4.     By Application (Entertainment & Media, Aerospace & Defense, Healthcare, Civil & Architecture, Industrial Manufacturing, Others)

5.     By Region (North America, Europe, Asia-Pacific, Rest of the World)

6.     By Company (Faro Technologies Inc., Creaform Inc., Direct Dimensions Inc., GOM GmbH, Konica Minolta Inc., Nikon Corporation, Autodesk Inc.,3D Systems Inc., ShapeGrabber, Maptek Pty Ltd.)

Key questions answered in the study:

1.     What are the current and future trends of the global 3D scanner industry?

2.     How the industry has been evolving in terms of technology and application?

3.     How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.     What are the key growth drivers and challenges for the global 3D scanner industry?

5.     What is the customer orientation, purchase behavior, and expectations from the global 3D scanner suppliers across various region and countries?

Table of Content –

1 MARKET INTRODUCTION

2 RESEARCH METHODOLOGY OR ASSUMPTION

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 GLOBAL 3D SCANNER MARKET REVENUE (USD BN), 2019-2027F

6 MARKET INSIGHTS BY TYPE

7 MARKET INSIGHTS RANGE

8 MARKET INSIGHTS BY OFFERING

9 MARKET INSIGHTS BY APPLICATION

10 MARKET INSIGHTS BY REGION

11 3D SCANNER MARKET DYNAMICS

12 3D SCANNER MARKET OPPORTUNITIES

13 3D SCANNER MARKET TRENDS

14 DEMAND AND SUPPLY-SIDE ANALYSIS

15 VALUE CHAIN ANALYSIS

16 COMPETITIVE SCENARIO

17 COMPANY PROFILED

18 DISCLAIMER

What the Future of Off-Highway Electric Vehicles Market Looks Like (2022-2028)?

 

The global off-highway electric vehicles market is expected to register a CAGR of around 21% over the period of 2021-2027. The infrastructural growth is increasing the demand for off-highway vehicles in the region and the Paris act, COP 26, and other environmental policies lead to increasing investments in the off-highway electric vehicles industry. Off-highway vehicles are being used in the agriculture and mining sector in major economies such as China and Japan. Moreover, major economies are increasing their investments in the electric off-highway vehicles industry as they are trying to meet their carbon emission targets quickly. Furthermore, China announced its commitment to reach carbon neutrality before 2060 while being the major producer of several agricultural products, and one of the major exporters of the critical minerals such as ferroalloys, manganese, tungsten, and other minerals. Thereby increasing demand for off-highway electric vehicles in the region.

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 According to UnivDatos Market Insights (UMI)’ research report “global off-highway electric vehicles market”, the market is expected to witness robust growth during the forecast period 2021-2027. This is mainly due to the increased awareness of the usage of electric vehicles coupled with the rapid technological advancements in electric vehicles. Various private firms as well as the government leading to the development of robust infrastructure for the usage of electric vehicles.

Based on the propulsion, the off-highway electric vehicles market is bifurcated into battery electric vehicles and hybrid electric vehicles. The hybrid electric vehicle segment held a prominent share in the global off-highway electric vehicle market. Cleaner emission, less fuel dependency, and regenerative braking are some of the most prominent factors driving the growth of this segment. It produces cleaner emissions compared to the internal combustion engines (ICE) because hybrid cars employ both electric engines and ICE. Moreover, hybrid vehicles have an electric motor to support the main petrol engine and to provide additional power. Hence, they are less dependent on fossil fuels.

Based on battery type, the lithium-ion battery category grabbed a significant amount of market share and is expected to grow at a robust growth rate during the forecast period. Lightweight, high energy density, low maintenance, more charge cycles, and low self-discharging are some of the major reasons for the growth of this segment. The use of lithium-ion batteries has grown significantly in recent years. They offer some major advantages over other forms of battery technology including nickel-metal hydride, and lead-acid batteries. Electrodes commonly used in lithium-ion batteries, lithium, and carbon, are lightweight on their own, making for much smaller and lighter batteries than other types of batteries.

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APAC to witness extensive growth

Asia-Pacific off-highway electric vehicles market is expected to witness substantial growth during the forecast period. The growth of this market can be attributed to the growing industrialization, urbanization, and high economic growth in the region. Major economies are increasing their investments in the electric off-highway vehicles industry as they are trying to meet their carbon emission targets quickly. Furthermore, China announced its commitment to reach carbon neutrality before 2060 while being the major producer of several agricultural products, and one of the major exporters of the critical minerals such as ferroalloys, manganese, tungsten, and other minerals. Thereby increasing demand for off-highway electric vehicles in the region.

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global off-highway electric vehicles market are Hyundai Motor Company, AB Volvo, Komatsu Ltd., Caterpillar Inc., Deere & Company, LIEBHERR-International Deutschland GmbH, Sany Heavy Equipment International Holdings Company Limited, Epiroc AB, Hitachi Ltd., Sandvik AB along with partnerships have been undertaken by these players to boost their presence in different regions.

“Global Off-Highway Electric Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.    

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Market Segmentation:

1.     By Propulsion (Battery Electric Vehicles and Hybrid Electric Vehicles)

2.     By Equipment Type (Dump Truck, Dozer, Sprayer, Tractor, and Others)

3.     By Battery Type (Lithium-Ion, Nickel Metal Hydride, Lead-Acid, and Others)

4.     By Application (Construction, Mining, Agriculture, and Others)

5.     By Region (North America, Europe, Asia-Pacific, Rest of the World)

6.     By Company (Hyundai Motor Company, AB Volvo, Komatsu Ltd., Caterpillar Inc., Deere & Company, LIEBHERR-International Deutschland GmbH, Sany Heavy Equipment International Holdings Company Limited, Epiroc AB, Hitachi Ltd., and Sandvik AB)

Key questions answered in the study:

1.     What are the current and future trends of the global off-highway electric vehicles industry?

2.     How the industry has been evolving in terms of propulsion, equipment type, battery type, and application?

3.     How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.     What are the key growth drivers and challenges for the global off-highway electric vehicles industry?

5.    What is the customer orientation, purchase behavior, and expectations from the global off-highway electric vehicle suppliers across various region and countries?

Table of Content –

1 MARKET INTRODUCTION

2 RESEARCH METHODOLOGY OR ASSUMPTION

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 OFF-HIGHWAY ELECTRIC VEHICLES MARKET COVID-19 IMPACT

6 OFF-HIGHWAY ELECTRIC VEHICLES MARKET REVENUE (USD BN), 2019-2027F

7 MARKET INSIGHTS BY PROPULSION

8 MARKET INSIGHTS BY EQUIPMENT TYPE

9 MARKET INSIGHTS BY BATTERY TYPE

10 MARKET INSIGHTS BY APPLICATION

11 MARKET INSIGHTS BY REGION

12 OFF-HIGHWAY ELECTRIC VEHICLES MARKET DYNAMICS

13 OFF-HIGHWAY ELECTRIC VEHICLES MARKET OPPORTUNITIES

14 OFF-HIGHWAY ELECTRIC VEHICLES MARKET TRENDS

15 LEGAL & REGULATORY FRAMEWORK

16 DEMAND AND SUPPLY SIDE ANALYSIS

17 VALUE CHAIN ANALYSIS

18 COMPETITIVE SCENARIO

19 COMPANY PROFILED

20 DISCLAIMER