Automotive Lighting Market: Global Market Revenue and Share by Manufacturers

 According to the new research report published by The Insight Partners, titled "Automotive lighting Market - Global Analysis and Forecast to 2027", the global automotive lighting market is expected to reach US$ 40.41 Bn in 2027, registering a CAGR of 3.3% during the forecast period 2019-2027.

In 2018, Asia Pacific was estimated to hold the largest market share and is expected to be fastest region with a CAGR of 3.9%.

The increasing sales of premium and luxury car owing to rising disposable income, and stringent government regulations regarding automotive lighting are the major factors driving the market. The rise in the sales of vehicles, in particular passenger cars, can be attributed to the steady increase in the disposable incomes of consumers, especially during the post-recession era. In the western countries where consumers have high disposable incomes, it has been observed that with the rise of the vehicular population, consumer preferences for buying passenger cars differs.

The automotive industry in APAC region has witnessed growth in past years, and the western OEM and automotive manufacturers have shifted their focus toward strengthening their position in the region. The rapidly growing economies have translated into rising per-capita incomes and consumer expenditures. As a result, APAC witnessed high growth in automobile sales in recent times. The higher number of automobiles on the road demands higher production of vehicles and thus present large potentials for vehicle lighting manufacturers to expand their business base in APAC.

The demand for automotive lighting in North America is growing owing to the increasing demand for passenger cars in the region. The automakers in the region are focusing on integrating advanced lighting solutions in vehicles to provide better driving experience and avoid accidents that are caused due to low lights. The market for automotive lighting in North America is competitive, and the automotive lighting manufacturers are focusing on gaining a significant market share by taking various business initiatives. For instance, in 2019, Varroc announced the opening of State-Of-The-Art Manufacturing Hall in Nový Jiín. Through this new facility indulged in the manufacturing of rear lamps and fog lamps to reach the highest standards of production logistics, automation, and safety across the Europe region. Similarly, in 2018, Lumileds developed new Philips Ultinon LED headlights, which is 160% brighter than the usual light that permits the driver to see more and react faster, as well as up to 6,200 K color temperature delivers the vehicle with a new and slick modern look.

Key findings of the study:
APAC held the largest market in 2018 in the automotive lighting market. China led the automotive lighting market in the region. China is the largest automotive manufacturing country across the world, and the country produced 27,809,196 vehicles in 2018. The country houses a few major automotive manufacturers such as SAIC Motor, Dongfeng, FAW, and Chang'an. Also, a few western automakers are focusing on expanding in China to cater to a broader set of audiences. Also, regional players are focusing on developing an efficient lighting solution to achieve a strong market position. Therefore, a strong automotive sector and increasing focus of western automakers toward expansion to the country are the major factors that are expected to drive the growth of the automotive lighting market in the country.

The global automotive lighting market is anticipated to witness impressive growth during the forecast period, as Audi, BMW, and General Motors are adopting efficient lighting systems to provide differentiated services to their customers. These luxury carmakers already have an established market in developed countries. Further, these automakers have also witnessed a surge in the sales of their premium cars segment in emerging markets, such as India and China. During the forecast period of 2019 to 2027, interior lighting is expected to drive the demand for automotive lighting worldwide. Passenger Car by vehicle type in 2018 led the automotive lighting market, whereas LCV is expected to be the fastest-growing vehicle type during the forecast period 2019-2027 growing at a high CAGR value.

Natural Gas Vehicle Market Overview and Regional Outlook Study

According to our latest market study on “Natural Gas Vehicle Market Forecast to 2027 - COVID-19 Impact and Global Analysis- by Fuel Type (CNG and LNG),Application (On Road and Off Road), and Vehicle Type (Passenger Vehicles, Light and Commercial Vehicles, and Heavy Commercial Vehicles),” the market was valued at US$ 17,100million in 2019 and is projected to reach US$ 28,805.75million by 2027; it is expected to grow at a CAGR of 6.9% from 2020 to 2027.

Europe led the global natural gas vehicle market with 8.1% revenue share in 2019, followed by Asia-Pacific (APAC)and North America. Europe comprises Germany, Italy, Russia, the UK, France, and the Rest of Europe. Automotive is one of the major manufacturing industries in European countries as it considerably contributes to the countries’ gross domestic product. Also, several premium automotive manufacturers are based in the region. The vehicles and fuelling stations are constantly growing across Europe. LNG and CNG primarily consist of methane that is progressively generated from renewable sources in biomethane and synthetic natural gas. The rising production of commercial and passenger vehicles generates huge demand for natural gas vehicles. Moreover, growing investments in sustainable transport and increasing need for alternative fuel technology would accelerate the natural gas vehicle market growth across various European countries in the coming years.

In 2019, Asia-Pacific stood second in the natural gas vehicle market with a decent market share; it is anticipated to register a steady CAGR from 2020 to 2027.In the past five years, capital investment in technological development has grown by 6.3%in Europe, to reach US$ 7,313.09 million of capital investment in 2019.International Energy Agency stated that apart from South America, APAC is the leading region in the natural gas vehicle industry. The increasing disposable income of individuals and rising economy have bolstered the sales of passenger cars and commercial vehicles in the past few years. APAC has become a global manufacturing hub with the presence of a robust automotive and transportation industry. Government initiatives-such as Made in China 2025 and Make in India-propel the growth of this sector in APAC countries. Developing infrastructure, increasing domestic consumption, as well as low labor costs are the key factors attracting automotive and transportation companies in southeast Asian countries. Based on the pollutant emissions, natural gas vehicles perform exceptionally well than diesel vehicles-especially in heavy commercial vehicles. Optimizing air quality is expected to be a significant driver for natural gas in various APAC countries, such as India, Malaysia, Singapore, and Thailand. Expansion of gas markets, public transportation, and the economy in the region drives the growth of the market.

Companies adopt inorganic market strategies to expand their footprints across the world and meet the growing demand. The market players present in the natural gas vehicle market are mainly focusing on gaining approval by integrating advanced features and technologies. By signing partnerships, contracts, joint ventures, and inaugurating new offices across the world, companies are increasing their market share and brand presence. Most of the market initiatives were observed in North America, and Europe, which have a high potential for future market growth. For instance, in 2019,Agility Fuel Solutions for medium- and heavy-duty commercial vehicles received 2019 California Air Resources Board (CARB) certifications for its natural gas fuel system for installation on General Motors 6.0L gasoline engines.

Impact of COVID-19 Pandemic on Natural Gas Vehicle Market
The COVID-19 outbreak is adversely affecting the world and is continuing to shatter several countries. Until the outbreak, the automotive and transportation industry was experiencing substantial growth in terms of production and services; however, the outbreak is tremendously disrupting the supply chain and production of automotive and transportation. The automotive manufacturing and transportation industry is heavily dependent on manual labor. Owing to the strong lockdown regulations imposed by the majority of the countries across the globe, the industry is experiencing a significantly lower number of labors in respective manufacturing facilities. This factor is hindering the automotive and transportation industry, thereby restraining the growth of the natural gas vehicle market.

Natural Gas Vehicle Market - Geographic Breakdown, 2019

The report segments the global natural gas vehicle market as follows:
By Fuel Type
• CNG
• LNG
By Application
• On-Road
• Off-Road
By Vehicle Type
• Passenger Vehicles
• Light and Commercial Vehicles
• Heavy Commercial Vehicles

By Geography
• North America
o US
o Canada
o Mexico
• Europe
o France
o Germany
o Italy
o UK
o Russia
o Rest of Europe
• Asia Pacific (APAC)
o China
o India
o South Korea
o Japan
o Australia
o Rest of APAC
• Middle East and Africa (MEA)
o Saudi Arabia
o UAE
o South Africa
o Rest of MEA
• South America (SAM)
o Brazil
o Argentina
o Rest of SAM

Pontoon Boat Market Set to Record Exponential Growth by 2028

According to our latest market study on “Pontoon Boat Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Tube Type, Propulsion Type, Size, and Application,” the market was valued at US$ 2,132.97 million in 2021 and is projected to reach US$ 4,089.97 million by 2028; it is expected to grow at a CAGR of 9.7% from 2021 to 2028.

With generous room aboard and rising versatility of deck and pontoons boats, the boat manufacturers are endlessly working to give a pleasant boating experience to consumers. The high inclination toward integrating advanced sensor and automation technologies throughout recreational boats is also driving the development phase of pontoon boats. Development in pontoon helps in providing a better and improved riding experience. The demand for pontoons is propelling across the globe due to the rising interest in outdoor and leisure recreation activities, such as lounging, cruising, and water-based adventurous activities. According to the regional government, the boating and tourism industries are well-developed and positioned to benefit from new opportunities prevailing in recreation and tourism. The well-positioned tourism and boating industries drive the penetration of pontoon and deck boats as these boats are used for the recreational and outdoor lounging purposes.

In addition, various countries such as Australia, US, Italy, France, Germany, Denmark, and Sweden among others are the prominent tourist destinations. Owing the growing tourism industry in these destinations, there is an increase in recreational sailing and water sports on waterways across various region in the world. The snowballing effect of domestic and international tourist footfall in European countries is massively contributing to the recreational boating industry in Europe.

Key Findings of Study:

Geographically, the pontoon boat market is segmented into five key regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA) and South America (SAM). North America held the largest revenue share in 2020, followed by Europe and APAC.  The pontoon boat market is segmented on the basis of type, tube type, propulsion type, size, application, and geography. Based on type, the market is segmented into bar boat, rear lounge, quad seating, arch models, double decker, and others. The rear lounge segment held the largest market share in 2020 because these types of pontoon easily accommodate several individuals. In terms of tube type, the pontoon boat market is bifurcated into double tube and triple tube. In 2020, the triple tube segment held a larger market share.

Dual Clutch Transmission Market to Witness Widespread Expansion by 2029

 According to the latest research report titled “Dual Clutch Transmission Market Forecast to 2028 – COVID-19 Impact and Global Analysis,” published by The Insight Partners, the market is expected to grow from US$ 12,576.10 million in 2021 and is projected to reach US$ 20,372.75 million by 2028; it is estimated to grow at a CAGR of 7.1% from 2021 to 2028.

Increasing Concerns About Fuel Economy and CO2 Emission to Drive Market During Forecast Period

A DCT combines the convenience of an automatic transmission with the fuel efficiency of a manual transmission. The 21st century has observed refinement in vehicle design in terms of problems relating to aerodynamics. As per the US Department of Transportation (DoT) figures, the US has approximately 276,100,000 vehicles running on the roads as recorded during 2018. Furthermore, few hundreds are added every day. It is also worth noting from the Department of Energy (DoE) statistics that 16% of the energy produced in the US is consumed in overcoming the drag of road vehicles. The global scenario is not much different. Therefore, there is enormous scope for improving the aerodynamics of cars to conserve depleting oil reserves. Dual clutch transmissions (DCTs) refer to the double friction clutches; they are designed and operated fully automated in vehicles.

North America is among the worst-hit regions by the COVID-19 pandemic. The US, Canada, and Mexico have witnessed a significant rise in the number of COVID-19 infected patients. The continuous growth of infected individuals has led the North American governments to impose lockdowns. The majority of the manufacturing plants are shut down, municipalities are functioning slowly compared to the past, and the automotive industries are halted. The COVID-19 outbreak has negatively impacted the automotive sector in the region. Assembly plant closures are adding to the intense pressure on an increasingly distressed North American supply base in the US. Companies are at risk of defaulting on covenants, potentially requiring banks to step in. Further, according to the Accenture website data, sales forecast for the US estimated a decline of 9% annually as consumers are not buying new vehicles due to the pandemic. Thus, limited supply of vehicle parts, shutdowns of manufacturing plants, supply chain disruption, and drop in new vehicle sales have negatively impacted the North America dual clutch transmission market.

However, in 2021, with the relaxation of lockdown restrictions and the beginning of vaccination processes, automotive production has started again, and people are looking for purchase, which will help create a favorable scenario for the North America dual clutch transmission market.

Several companies have adopted different strategies to continue their operations and increase their annual sales statistics. Magna International Inc. has received its largest production order for transmission technologies from BMW Group. The contract includes all front-wheel-drive dual clutch transmissions, including hybrid transmission variants. Magna International Inc. manufactured a new dual clutch 8-speed transmission for Ferrari SF90 Stradale, Ferrari’s first plug-in hybrid and one of the most powerful sports cars. This new transmission system aims to provide improved torque and shifting.

Key Findings of Study:

The global dual clutch transmission market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). North America is expected to hold a significant share of the market, owing to the region’s government policies for its automotive sector, coupled with one of the largest transportation infrastructures across the world. As per the International Organization of Motor Vehicle Manufacturers (OICA), the US is the largest manufacturer of commercial vehicles worldwide. In 2020, the country manufactured 8,156,769 units of new commercial vehicles. Further, the commercial vehicle transmission system in APAC is expected to grow at a notable rate as the region is witnessing rapid industrialization and urbanization, causing infrastructure development and rising demand for commercial vehicles. As per the OICA report, China is the second-largest country in the world to manufacture commercial vehicles. In 2020, the country manufactured 208,747 new commercial vehicles and is expected to dominate the market in the coming years. The market growth in Europe is attributed to the significant use of dual clutch transmission in the automobile industry. Also, the MEA and SAM are contributing significantly to the global dual clutch transmission market growth.

Secure Logistics Market Insight on the Important Factors and Trends Influencing the Industry

 According to our latest market study on “Secure Logistics Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type and Application,” the market was valued at US$ 47.25 billion in 2021 and is projected to reach US$ 75.64 billion by 2028; it is expected to grow at a CAGR of 7.0% from 2021 to 2028.

The increased use of cash logistics solutions such as cash management and cash-in-transit has resulted from the increase in currency circulation in the economy. For example, in November 2018, the Reserve Bank of India (RBI) declared that the money in circulation in India had increased by roughly US$ 6.54 billion, the greatest increase since demonetization. The adoption of cash logistics services improves cash management and provides benefits such as the reduced risk of errors, improved cash flow, and more. As a result, an increase in cash circulation propels the global secure logistics market ahead. Further, multinational cash logistics corporations have been steadily shifting their operations bases to rising areas such as Asia, South America, and the Middle East. The cash logistics industry took a major hit during the European banking crises in 2009, with several banks and financial institutions requisitioning bailouts. Cash logistics firms are also expanding their reach into emerging regions to get a competitive advantage. Since the global economic slump of 2008–2009, economies like India, China, and Brazil have expanded dramatically. As a result, significant opportunities for market expansion are anticipated.
In recent days, the number of cash-in-transit vehicle robberies has skyrocketed. In South Africa, for example, a surge in cash robbery is one of the key causes discouraging cash logistics companies from accepting cash payments. In recent financial years, cash-in-transit robberies surged by roughly 56%, resulting in an increase in demand for secure logistics for cash movement and management by cash logistics companies.

Key Findings of Study:

Geographically, the secure logistics market is broadly segmented into five major regions—North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America (SAM). APAC led the market in 2020.

The secure logistics market in APAC is expected to grow at a significant rate during the forecast period. Factors such as rapid growth and expansion of banking and financial institutions across the region are propelling the market growth. Also, the growing logistics industry would create lucrative growth opportunities for the market players present in APAC in the coming years.

The growth of the North America secure logistics market is attributed to the rising security concerns among institutions and corporations owing to the need for safe cash transportation. Further, the cash-in-transit services and the presence of many market players are dominating the region’s market growth.

Railway Cyber Security Market Will Escalate Rapidly in the Near Future

 The scope of study involves understanding the factors contributing to the growth of the railway cyber security market; it also includes estimating and forecasting the revenues as well as conducting the market size analysis, along with spotting significant market players and their key developments.

According to the new research report titled "Railway Cyber Security Market Forecast to 2027 - COVID-19 Impact and Global Analysis," published by The Insight Partners, the global railway cyber security market is expected to reach US$ 11,001.4 million by 2027, registering a CAGR of 8.2% during 2020-2027, the forecast period considered in the report.

APAC railway cyber security market to grow at highest CAGR during forecast period

The railway cyber security market in the Asia Pacific is estimated to grow at the highest CAGR during the forecast period. The growth of railway cyber security in Asia Pacific is due to increasing urban transit and railway digitization by major players and regional governments. This is designed to cope with rising consumer demand for convenient and secure travel and to meet fuel-efficiency standards to limit CO2 emissions. For example, the Optiflo rail control service solutions from Bombardier in APAC, introduced new advancements in compelling, data-driven, predictive maintenance, and cyber security solutions. Increasing urbanization has caused rapid population growth in cities. The urban population currently account for more than 54% of the total population. Furthermore, many countries are investing in metros to reduce road traffic. Developing countries such as India and China are investing significantly in the development of the metro infrastructure. Metro systems are successfully operating in 10 Indian cities, while about 25 new projects are in the pipeline. The Indian government had allocated a US$ 2.2 billion fund for the Metro budget during 2018-2019. China is planning to invest USD 11.4 billion in urban rail project development in Changchun.

The developed metro infrastructure is well connected and technologically advanced. These metros nowadays have automation level 3 or level 4. This increasing railway automation level is fueling the demand for cyber security in the railways. Additionally, increasing numbers of Asia Pacific exhibitions and summits are also expected to contribute to the growth of the market during the forecast period. For example, Nokia took part in the 2019 Asia Pacific Rail Exhibition and showcased the latest technologies and innovations. Similarly, in 2018, the Association of Southeast Asian Nations (ASEAN) organized a Cyber Security Summit, and in October 2019, Singapore launched the ASEAN-Singapore Cyber Security Center of Excellence to conduct research and train staffs to respond to the cyber threats.

Impact of COVID-19 Pandemic on Railway Cyber Security Market

According to latest situation report (22nd June 2020) from World Health Organization (WHO), the US, Brazil, Russia, India, Spain, Italy, Germany, the UK, and China are some of the worst affected countries due to COVID-19 outbreak. The COVID-19 outbreak was started in Wuhan (China) in December 2019 and it has then spread across various countries in the world. As per latest WHO figures, there are total 8, 860, 331 confirmed COVID-19 cases globally with ~465,740 deaths and the number is growing at varying rates in different countries. The COVID-19 crisis has affected various industries worldwide and the global economy is anticipated to face a slump in the year 2020 and likely in 2021 as well. The effect of COVID-19 on various economies differs based on the level of outbreak in the specific countries. The estimated short term (coming 1 year) impact of COVID-19 outbreak on various regions overall economy.

Key findings of study:

Digital transformation trend is defined as the integration of digital technologies in various processes, activities, and business models to increase productivity and reduce operational costs. The companies across the world are embracing digitalization to transform their existing business models and processes for increasing operational efficiency and revenue. The railway industry is no exception to this trend and it is going through a paradigm shift with disrupting business models, evolving pricing and cost structures, and increasing competition. The key areas for digital transformation in railways include development of new business models & offerings, digitalization of core operations, and building a strong internal digital foundation. Multimodality platforms, easy customer interfaces, fleet management, automated train operations, and advanced analytics are some of the key areas of digital transformation in the global railway industry. Business process optimization, cost reduction, high operational efficiency, and prevention of human errors are some of the key factors that are fueling the digital transformation trend in railway industry. Digital transformation has now become a crucial need for the sustainable growth of any enterprise, owing to the increasing customer demands and rising industry competition. Along with numerous benefits, digitalization/digital transformation is also increasing the risk of cyber threats due to increasing number of attack points in the enterprise networks. Hence, in order to understand the potential cyber risks that come with digital transformation and to strengthen the information security infrastructure, companies across the world are investing in cyber security solutions and services which are driving the growth of railway cyber security network.

Smart Highway Market Growth Opportunities, Key Players, and Threads Analysis

 According to our latest market study on “Smart Highway Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Technology and Component,” the Market is expected to grow from US$ 24.8 billion in 2021 to US$ 81.3  billion by 2028; and is estimated to grow at a CAGR of 18.4% from 2021 to 2028.

Insufficient availability of road space, and the lack of road sense and discipline are the key factors leading to traffic congestions. Thus, highway authorities are focusing on implementing advanced traffic management solutions to overcome traffic problems in cities. Intelligent transportation systems, vehicle infrastructure, structural health monitoring, solar road panels, and wireless vehicle charging are crucial components of a smart highway. The integration of traffic control centers, access control, and route guidance systems offers a range of benefits within a smart transportation management system. Furthermore, assimilating AI and Big Data with physical infrastructures, such as sensors and solar panels, has bolstered the demand for smart roads across the world. Edge computing enables low latency that powers the smart road infrastructure, including adaptive traffic lights and integrated roadways. Traffic lights can automatically adjust their timing based on sensor data, enhancing the flow of traffic and changing signals to effectively manage highway traffic.. The AAEON Atlas, supported by Intel Vision Products, is an edge computing node that consolidates data from smart lighting, environmental monitoring, and video sensors to shape future smart cities.

The rising deployment of smart streetlights, smart traffic lights, smart parking, and/or e-tolling stations has augmented the processing capabilities that are needed to monitor traffic congestion. While smart roads may still be in their infancy in North America, significant initiatives are currently being introduced in the region to accelerate the use of data analytics. The US government is set to incorporate smart road technology along Highway 285 in Colorado. Road surface covered with factory-made concrete slabs will feature Wi-Fi connectivity; they’ll be embedded with fiber optic cables acting as pressure sensors that can monitor road’s wear-and-tear to alert motorists on traffic conditions.

Key Findings of Study:

The global smart highway market is segmented into five major regions—North America, Europe, APAC, the MEA, and SAM. Based on technology, the market is sub segmented into smart transport management system, smart traffic management system, communication system, monitoring system, and others. In 2020, the smart transport management system segment accounted for the largest market share. Based on component, the smart highway market is segmented into software and hardware. In 2020, the hardware segment accounted for a larger share of the market.