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IoT in Supply Chain Market is likely to witness a worth of US$ 41.8 Billion, rising at a CAGR of 12.9% from 2023 to 2033

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Global Trade Daily, Market insight

IoT in Supply Chain Market is likely to witness a worth of US$ 41.8 Billion, rising at a CAGR of 12.9% from 2023 to 2033

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The global IoT in the supply chain market is projected to be worth US$ 41.8 billion by 2033. It’s expected to be worth more than US$ 12.4 billion by 2023. The global market is anticipated to expand at a CAGR of 12.9% from 2023 to 2033.

Several factors contribute to the rising demand for the Internet of Things (IoT) in the supply chain sector. Real-time tracking and monitoring of commodities across the supply chain are made possible by IoT devices. It is anticipated that it will be widely utilized to gather precise and timely information about their whereabouts, health, and status.

IoT adoption is anticipated among supply chain managers who want to improve visibility and control over their operations. Additionally, it can aid in maximizing inventory control, lowering losses, and boosting productivity. Demand would be further boosted by IoT technology’s ability to provide predictive maintenance of important machinery and equipment in the supply chain.

Vehicles, storage spaces, and industrial plants are a few of these. Potential failures or performance issues can be discovered in advance, allowing for preventive maintenance and reducing downtime, by gathering and analyzing data from IoT sensors implanted in these assets. By 2033, it is expected to make IoT in supply chains more popular.

IoT-enabled supply chain solutions would make it easier for different process participants to communicate and integrate with one another. Suppliers, producers, distributors, and retailers are a few among them.

The connection can facilitate quicker decision-making, improve collaboration, and expedite procedures. Improved coordination and reactivity within the supply chain ecosystem are anticipated as a result of these qualities.

Key Takeaways:

  • The global IoT in the supply chain industry showcased an astonishing CAGR of 5% from 2018 to 2022.
  • The United States IoT in the supply chain industry is expected to be worth US$ 8.4 billion by 2033.
  • The United Kingdom IoT in the supply chain industry is expected to surge at a CAGR of 5% from 2023 to 2033.
  • China IoT in the supply chain industry is expected to surpass a value of US$ 10.4 billion by 2033.
  • The hardware segment by component is projected to surge at a CAGR of 7% from 2023 to 2033.

Competitive Landscape

Several well-known technology giants are active in the IoT market and provide complete IoT supply chain solutions. IoT platforms, cloud infrastructure, and analytics tools are all provided by organizations such as IBM, Microsoft, and Oracle. They are frequently positioned as leading players in the competitive environment thanks to their extensive network of market relationships and solid customer base.

On the market, there are specialized IoT solution providers who concentrate solely on the supply chain sector. For example, IoT-enabled tracking and monitoring systems designed for supply chain operations are offered by Savi Technology and Roambee.

They offer the hardware, connectivity, and software platforms needed for supply chain process improvement, real-time visibility, and predictive analytics. These individuals frequently have extensive domain knowledge and a thorough understanding of the unique requirements and problems of supply chain management.

For instance,

  • Siemens and Amazon Web Services (AWS) announced a partnership to integrate Siemens’ MindSphere with AWS IoT services in November 2021. Through this agreement, industrial customers would be able to utilize IoT data from their supply chains. Additionally, they have the ability to use machine learning and advanced analytics.
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Global Logistics, Global Trade Daily, Market insight

Global Electric Cargo Bike Market is Estimated to be Worth US$ 6.2 Billion, Growing at a CAGR of 11.4% by the Year 2033 end

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The global electric cargo bike market is expected to attain a valuation of US$ 2.1 billion in 2023 and is projected to reach US$ 6.2 billion by 2033, expected to rise at a CAGR of 11.4% during the forecast period.

The rise of e-commerce has sparked an increased need for last-mile delivery services, a demand that electric cargo bikes are well-positioned to meet. In urban areas, where congestion and limited parking spaces can hinder delivery vans or trucks, electric cargo bikes offer an efficient solution. These bikes enable quicker and more cost-effective deliveries, addressing the challenges of congested urban environments. With the continued growth of e-commerce, the demand for electric cargo bikes is expected to rise further.

The demand for electric cargo bikes is anticipated to rise due to increased investments from key players driven by the growing e-commerce industry. For example, on November 24, 2022, Amazon, specializing in e-commerce, announced plans to expand its United Kingdom electric-cargo bike fleet in the coming years. This expansion aims to enhance foot-based deliveries, contributing to the decarbonization of the transportation network used for package deliveries across the country.\

The rise in e-commerce and the impact of the pandemic have led to an increased demand for home deliveries of products and services. In response, businesses and industries are investing more in improving logistics and transportation to minimize downtime, save costs, and enhance customer satisfaction.

Key Takeaways:

  • The United States electric cargo bike market is expected to grow with a CAGR of 9.5% during the forecast period.
  • The demand for electric cargo bikes in Australia is expected to grow with a CAGR of 11.5% during the forecast period.
  • By battery type, the lithium-ion battery segment is projected to grow with an impressive CAGR of 12% during the forecast period.
  • The market in Germany is expected to grow with a significant CAGR of 11.6% throughout the forecast period.

“The thriving e-commerce industry and use of electric cargo bikes for fast parcel deliveries are expected to drive market growth during the forecast period,” – comments an analyst at FMI.

Competitive Landscape:

The market for electric cargo bikes is highly competitive, with numerous prominent industry players making substantial investments in their production.

The key industry players are Jiangsu Xinri E-Vehicle Co. Ltd., Jinhua Jobo Technology Co., Ltd., CERO ELECTRIC CARGO BIKES, Worksman Cycles, DOUZE Factory SAS, XYZ CARGO, Butchers & Bicycles ApS, NIHOLA, Babboe, Yuba Electric Cargo Bikes, BODO Vehicle Group Co., Ltd. (LUXMEA), Chongqing Mobimax Technology Co., Ltd., Carqon (Accell Group N.V.), XCYC (Gemeinnützige Werkstätten und Wohnstätten GmbH ), Riese & Müller GmbH, Urban Arrow, Rad Power Bikes Inc., Tern Bicycles (Mobility Holdings, Ltd.), Pedego Electric Bikes, Xtracycle Inc, Amsterdam Bicycle Company, Triobike.

Some recent developments in this market are:

  • In October 2022, French company Douze Cycles introduced a series of cargo bikes comprising four models, three of which feature electric assistance. These bikes offer an impressive hauling capacity of up to 205 kg.
  • In June 2022, Tern unveiled NBD, a low-step e-bike capable of supporting a maximum gross vehicle weight of 140 kg. It features a rear rack with a capacity of up to 27 kg and a front rack that can handle up to 20 kg.
  • DOUZE Factory SAS, a French company specializing in cargo bike design and manufacturing, revealed a collaboration with Toyota on March 8, 2023. Together, they will co-develop and launch a new lineup of electric cargo bikes.
  • On November 3, 2022, Yuba Bikes from California introduced their popular non-motorized ‘longtail’ bicycles. These bikes have an extended deck for carrying cargo or passengers. Yuba expanded its cargo bike range with the new Fastrack model, featuring a patent-pending integrated Dual Rack System that can be adjusted in four ways to accommodate different cargo or passengers.
dutch scale capital
Global Trade Daily, Technology

Global Semiconductor Capital Equipment Market is Expected to Generate a Worth of US$ 161 Billion by Forecast ending 2033

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According to a report by Future Market Insight, the global semiconductor capital equipment market is expected to exhibit significant growth between 2023 and 2033. The market is projected to reach a value of US$ 161 billion by 2033, with a CAGR of 7.0%. This represents a substantial increase from its estimated value of US$ 82 billion in 2023.

The market growth is primarily driven by the growing demand for advanced electronic devices. These devices require high-performance semiconductors. Emerging technologies heavily rely on semiconductors for processing power. Therefore, the demand for semiconductor capital equipment is increasing.

The trend toward miniaturization and increased functionality of electronic devices is driving semiconductor manufacturers. They are adopting advanced manufacturing techniques and investing in cutting-edge capital equipment. Additionally, the shift toward 5G technology is further fueling the demand for semiconductor capital equipment.

The increasing complexity of manufacturing processes is anticipated to offer opportunities for semiconductor capital equipment manufacturers. Advanced packaging techniques are contributing to this complexity. Capital equipment manufacturers can develop innovative solutions to meet the demands of these processes.

The growing demand for electric vehicles and renewable energy technologies is driving the adoption of specialized semiconductors. The production of semiconductors for electric vehicles and renewable energy technologies requires specialized equipment.

The trend toward Industry 4.0 initiatives is increasing the demand for advanced semiconductor capital equipment. Manufacturers are seeking to automate production processes and improve productivity. This drive for automation and efficiency requires advanced equipment.

The increasing focus on cybersecurity in the semiconductor industry presents prospects for manufacturers. There is a growing demand for secure chips and robust encryption technologies. The intersection of smart manufacturing and cybersecurity is expected to create an exceptional opportunity for semiconductor capital equipment suppliers.

The rapidly growing consumer electronics market is likely to present significant opportunities for semiconductor capital equipment manufacturers. Semiconductor manufacturers require advanced equipment to meet the demands of this expanding market.

Key Takeaways:

  • The semiconductor capital equipment industry in the United States is predicted to reach US$ 26.7 billion by 2033.
  • The semiconductor capital equipment industry in the United Kingdom is estimated to expand at a CAGR of 5.4% between 2023 and 2033.
  • During the forecast period, the semiconductor capital equipment industry in China is expected to reach a market valuation of US$ 42.2 billion.
  • The semiconductor capital equipment industry in Japan is predicted to boom at a 7.2% CAGR through 2033.
  • South Korea’s semiconductor capital equipment industry is predicted to achieve a market revenue of US$ 10.1 billion by 2033.
  • With a CAGR of 6.9% from 2023 to 2033, the wafer-level manufacturing equipment segment is expected to dominate the semiconductor capital equipment industry.
  • With a CAGR of 6.8%, the memory manufacturers segment is expected to dominate the semiconductor capital equipment industry until 2033.

Competitive Landscape:

Here are certain notable approaches being implemented by key players to protect their competitive edge and capitalize on market opportunities:

  • Development of advanced and innovative semiconductor manufacturing equipment to cater to the increasing demand for high-performance chips.
  • Expansion of product portfolios to offer a comprehensive range of equipment for various stages of the semiconductor manufacturing process.
  • Focus on research and development activities to improve equipment performance, efficiency, and productivity.
  • Collaborations and partnerships with semiconductor manufacturers to jointly develop customized solutions.
  • Geographical expansion to tap into new regional markets and capitalize on the growing demand for semiconductor capital equipment.
  • Strategic acquisitions of smaller companies or technologies to gain a competitive edge and expand market presence.

Recent Developments:

  • Lam Research opened its second research and development center in India in September 2022. The primary objective is to empower local engineers to finalize designs and decrease reliance on their counterparts in the United States.
  • KLA Corporation unveiled its intentions to create a fresh research and development division as well as a manufacturing center for its SPTS division in the United Kingdom in September 2022.
fuel cell stationary
Global Trade Daily, Technology

The Portable Fuel Cells Market is Expected to see Increased Competition in the Coming Years as more Companies Enter the Market

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The portable fuel cells market is relatively niche and is experiencing utmost and rapid growth, owing to the growing demand for compact, portable, and rechargeable fuel cell systems for various applications. Furthermore, portable fuel cells have emerged as a promising alternative to traditional batteries and have been gaining significant traction in recent years. Advancements in oil and gas technology are impacting the growth of the market.

The market is supported by:

  • promising alternative to traditional batteries
  • increasing demand for clean energy solutions
  • increasing technological advancements
  • increasing demand for uninterrupted power supply
  • growing demand for high-quality, premium Portable Fuel Cells Markets
  • increasing demand for longer run times and quicker refueling times
  • ongoing diversification in product portfolios
  • mindful consumer choices
  • increasing adoption and consumption of portable Fuel Cells Market
  • favorable government initiatives for product development
  • outstanding customer and employee experience

North America, followed by Europe, is the major market for Portable Fuel Cells Market, owing to the increasing popularity and growing awareness of outstanding battery solutions. The US is the largest Portable Fuel Cells Market in the region, followed by Canada, owing to the growing demand for clean energy solutions and the increasing need for uninterrupted power supply.

Apart from North America, Asia-Pacific is the largest market for Portable Fuel Cells Market, due to the varied applications of portable fuel cells including consumer electronics, military and defense, backup power, and outdoor recreation. Furthermore, the rapidly growing demand for consumer electronics, such as laptops and smartphones, leading to the increasing demand for longer battery life and uninterrupted power supply, along with the increasing disposable incomes, and the presence of a large consumer base in the Asia Pacific region is pushing the market growth.

Key producers are working on manufacturing the Portable Fuel Cells Market in order to gain a greater market share. Some of these companies include Ballard Power Systems Inc Plug Power, Intelligent Energy, Inc., Hydrogenics,, and Proton Power Systems, among others.

The Portable Fuel Cells Market is expected to see increased competition in the coming years as more companies enter the market and existing players expand their product portfolios. Companies operating in the market are focused on developing innovative products to meet the growing demand for clean energy. The market is also likely to benefit from government initiatives aimed at promoting the use of clean energy solutions. The market’s competitive landscape is expected to become more intense as new players enter and existing players expand their product portfolios and focus on research and development to improve the quality and effectiveness of their products.

For instance, in June 2022, Toyota and its subsidiary, Woven Planet, developed a prototype of a portable hydrogen cartridge. The cartridge will make it easier to transport and supply hydrogen energy for various applications, both inside and outside the home. The companies plan to conduct proof of concept trials in various locations, including Woven City, a smart city of the future being built in Susono City, Japan.

As the market continues to grow, it is expected to attract new entrants, further increasing the level of competition. Starting a business in the Portable Fuel Cells market can be a rewarding opportunity for entrepreneurs. Considering this, a lot of startups are coming up with innovative product launches. One such startup is Upstart Power, a US-based startup that develops solid oxide fuel cell generators for cost-effective, reliable, and carbon-efficient energy production. Its Upgen line of SOFC generators can be paired with solar and battery storage systems and can operate both day and night. The Upgen NXG fuel cell generators are suitable for medium-scale energy supply applications in residential buildings and small-scale industries.

What is Driving Demand for portable Fuel Cells

The rapid surge in demand for unconventional energy sources is one of the primary driving factor for the demand growth. Increasing concerns headed for zero ecological impact are vital aspects influencing the demand for portable fuel cells. In addition, ease of application and eco-friendly nature also paves the way for growth in consumption.

Being one of the most vibrant sectors of the economy, rapid surge in the growth of the electronic industry has prompted substantial changes in the investments in electronic manufacturing industry and hence fueling significant demand.

Eco-friendly objectives to eliminate emission rates and boosting regulations by the government authorities in developed countries are augmenting the demand for hydrogen power plants during the forecast period. Subsequently, resulting in upsurge in consumption of portable fuel cells over the coming years.

Additional pivotal element for the growth in demand for portable fuel cells is the availability of various fuels that can be implemented in fuel cells. Ethanol, Methanol, butane, hydrogen, and diesel are some of the most common fuels used in portable fuel cells.

The relatively easy acquisition of hydrocarbon fuels is creating positive prospects for demand growth by making them affordable and easier.

Rising Investments in Smart Grids to Augment Portable Fuel Cells Consumption

On accounts of substantial efforts by government authorities for power grid enhancements in order to create easy availability of grid power in previously unreachable areas.

Additionally, the adoption and development of smart cities is compelling the integration of smart grids implemented with IoT based connecting technologies.

These are impelling the use of locally small scale self-sustainable energy generation techniques such as wind, hydropower, solar have become cheaper and viable option for portable fuel cells.

The versatile benefits related to portable fuel cells such as improved storage and energy efficiencies, zero emissions and mobility among other coupled with the rising research & development activities by the manufacturers are paving the way for market growth during the forecast period.

Europe Market Overview

The European countries such as Germany, United Kingdom, Norway, Netherlands, etc. are among few major investors in the fuel cell powered vehicles.

Correspondingly, resulting in increased consumption of portable fuel cells during the forecast years. For instance, 23 European countries formed a collaboration on the HyLAW EU Project, targeted for recognizing and removing legal and administrative obstructions for the deployment of hydrogen fuel cells and hydrogen applications.

Furthermore, activities for research and product development regarding utilities and autonomous vehicles in defense sector have propelled in recent few years. The high focus on the using clean energy sources has resulted in increase in the investments in generating electricity using fuel cells.

Who Are the Key Manufacturers And Suppliers of Portable Fuel Cells

Some of the leading manufacturers and suppliers include

  • Johnson Matthey,
  • ICM Plastics,
  • Fuel Cell Components and Integrators,
  • Horizon,
  • Mechanical Technology Incorporated,
  • Gore,
  • Ballard,
  • Medis Technologies,
  • Angstrom Power,
  • Asahi Glass,
  • Masterflex AG,
  • Heliocentris Fuel Cells AG,
  • GrafTech International,
  • BASF,
  • Ceramic Fuel Cells,
  • Manhattan Scientifics, and Altair Nanomaterials.

The key manufacturers and suppliers operating in the market have long term agreements with end-users. Further, manufacturers are focusing on establishment of their manufacturing plants in the Asia Pacific countries such as China, Thailand, India, and Taiwan to satisfy increasing demand in the region.

oil
Global Trade Daily, Uncategorized

Two-Wheeler lubricants Provide Excellent Fuel Economy, Minimal Oil Usage, Reduced Maintenance Costs, and Increased Oil and Engine Life

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The two-wheeler lubricant market is estimated to be valued at US$ 17,697.3 million in 2023 and is anticipated to rise to US$ 24,723.7 million in 2033. The sales of two-wheeler lubricants are projected to increase at a 3.4% CAGR from 2023 to 2033.

Increasing Engine Oil Use

The rising demand for engine oils to lessen the wear and tear on a two-wheeler’s moving parts is predicted to boost sales of the market. Engine oils are commonly used to lubricate internal combustion engines in motorcycles. They are typically made up of base oils and additives. Petroleum, synthetic chemicals, or both are used to create the base stock. The base stock oversees lubricating the engine’s moving parts and dissipating excess heat.

Oxidation inhibitor additives, dispersion additives, anti-foaming additives, corrosion inhibitor additives, and anti-freeze additives are some of the additives found in engine oils. These regulate the viscosity and lubricity of the oil and protect engine components from wear and strain.

Resistance to corrosion and wear and tear are two of the most important functions of engine oils in two-wheelers. Its purpose is to extend engine life and improve performance by:

  • Reducing friction
  • Increasing engine performance
  • Lowering fuel consumption
  • Removing pollutants
  • Achieving engine cleanliness
  • Optimizing engine efficiency
  • Preventing energy loss through optimal cooling

The quick adoption of two-wheeler lubricants has weighed on the same scale as the advent of two-wheelers as a key means of transportation in emerging countries. If consumer interest grows in a carbon-free future via zero-emission transportation, the growing importance of electric vehicles may pose a possible threat to market development.

Lubricants are fluids, oils, or greases that minimize friction between two surfaces that are close to each other. Because they minimize friction between moving elements, these fluids are essential in automotive and industrial applications. Over time, the increased competition among renowned industry players has benefited market expansion. To stay ahead of the competition, the leading manufacturers are significantly investing in the worldwide market. As a result of all of the aforementioned factors, increased use of engine oils is likely to fuel market expansion throughout the forecast period.

Growing Demand for Lubricants Support Market Development

The lubricants for two-wheelers may be made synthetically or from minerals. Along with engine oil, suspension oil, brake oil, and chain oil, lubricants are frequently used. Cans, pouches, bottles, buckets, and other containers are used to package and supply these lubricants.

The lubricants provide excellent fuel economy, minimal oil usage, reduced maintenance costs, and increased oil and engine life. The product also ensures the high durability of the engine while offering exceptional protection to the motorcycle’s engine, gears, and clutch. The need for two-wheeler lubricants in motorcycles and scooters is increased by these favorable circumstances.

The knowledge of alternatives for products connected to mineral oil has led to growth in the global market for lubricants for large-scale businesses. During the projected period, demand for synthetic oils is anticipated to increase due to the expanding automotive industry and industrial expansion. Because synthetic kinds outperform natural mineral oils, their appeal has increased. They are gradually taking over natural mineral oils as the favored option in a variety of sectors where high levels of consistency are required. They have decreased volatility, a great viscosity index, a lower pour point, and increased oxidative/thermal stability as a result of their inherent physical and chemical characteristics.

Sales are Boosted by a Fleet of Two-wheelers and Rising Traffic in Emerging Economies

Two-wheeler use is being boosted by rising rural disposable income and population growth in nations like China, India, and South Asia & the Pacific. In India, the business sold more than 100 million two-wheelers in 2021, according to Hero Moto Corp.’s annual report.

Leading two-wheeler manufacturers like Honda and TVS have also sold almost 2.1 million and 1.4 million units respectively in Asia. The fleet of two-wheelers is growing, and nations with dense populations are seeing a sharp increase in demand for two-wheeler lubricants. The growing population of these areas has led to high traffic, particularly in their key cities.

To keep up with fast-paced lifestyles, customers are choosing motorbikes and scooters as their preferred form of transportation. Rural areas still lack adequate transportation infrastructure. Customers in less developed regions favor two-wheelers due to taxes and the expensive cost of four-wheelers.

Market Expansion is Fueled by the Rising Industrial Sector’s Need for Best Lubrication

The industrial sector is attempting to reduce energy consumption and operating costs considering the rising cost of energy to power industrial activities. Without lubrication, engine components are likely to experience friction, which increases fuel consumption and contributes to emissions and pollution. By minimizing friction between parts and improving machine efficiency, a high-quality product aids in the same goal.

A little decrease in energy usage can generate considerable financial benefits due to rising energy costs. Depending on the kind of machine being used, different energy-saving opportunities exist. By dramatically enhancing lubrication, it can increase a company’s overall earnings. Global lubricants market expansion is anticipated to be driven by significant industrialization and severe environmental regulations on manufacturing companies.

Increasing Use of Electric Vehicles Limits the Market Expansion

The consumption and expansion of the worldwide lubricating goods market are both strongly influenced by the automotive industry. Traditional cars use a variety of oils to preserve the quality of their engines throughout time. The demand for crude oil is rising, but so are environmental worries.

Consumer interest in electric vehicles is increasing in both developed and developing nations. The advantages of electric vehicles also become increasingly clear as technology develops. The adoption of electric vehicles is anticipated to slow the expansion of the automotive sector.

The International Energy Agency estimates that China sold 3 million electric vehicles in 2020, an increase of 40% from 2019. It is a significantly growing market for electric vehicles in the world as well as a key center to produce electronic and electrical components.

Leading producers of electric vehicles, including Tesla, are making investments in China market to tap into the market’s potential. Along with Western Europe, industrialized nations like the United States and Japan are seeing a rise in the use of electric vehicles.

The Industrial Sector in the United States is growing its Demand for Lubricants

The automobile industry dominated the market in the United States area, which is anticipated to expand at a CAGR of 1.4% by 2033.

The United States has a big vehicle industry, which has contributed to the market’s enormous rise. The industrial sector has shown consistent growth and is expected to continue in the next years. Because of rigorous environmental protection legislation, North America consumes a lot of environment-friendly products. ExxonMobil Corporation, Royal Dutch Shell Corporation, and Chevron Corporation are all from the United States.

The market has been marked by fierce competition, with all key industry participants focused on expanding their client base in to acquire a competitive advantage over other companies in the ecosystem.

The United States is expected to be driven by high-volume sales of premium products. Automotive and industrial applications account for more than 90% of lubricant sales in the United States market.

Industrial engine oil is likely to be a significant contribution to the growth of the overall lubricant market in the United States. This lubricant is used to reduce operating costs by dramatically reducing wear and tear on heavily moving mechanical components. It also helps to reduce fuel consumption since it has a low coefficient of friction. Consequently, it helps to keep the engine parts clean, work efficiently, and give optimum combustion efficiency.

The automotive and industrial sectors are the primary application areas for lubricants in the United States. There have been several advances in the ecosystem centered on product development, strategic product placement, value chain optimization, and other factors. The implementation of new standards and regulations is likely to increase demand for premium engine lubricants and synthetic formulations. With the presence of numerous market competitors in the United States, the automotive and industrial categories are projected to be saturated. The aviation and maritime industries are likely to grow significantly in the next years.

Competitive Landscape:

The global market for two-wheeler lubricants is highly consolidated. Market leaders are focusing on strategic expansion initiatives such as the formation of strong distribution relationships, joint ventures, and collaborative agreements. They are also investing in research and development and new product introductions to meet the increasing demand for motorcycle and scooter lubricants.

Some of the leading players are also looking to expand their product line to enhance income.

Recent Developments:

July 2021 – Steel Bird announced the launch of a new range of two-wheeler engine oils, grease, and fork oil in a variety of variations for different types of two-wheelers.

October 2021 – ExxonMobil launched synthetic engine oils for motorcycles in India. The business also announced an upgrade to its Mobil Super Moto line of synthetic base oil-based motorcycle engine oils.

dutch scale capital
Global Trade Daily, Market insight

Chip Scale Package LED Industry is Expected to reach a Valuation of US$ 5.8 billion by 2032

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By 2032, the market for chip scale package LEDs is expected to be worth US$ 5.8 billion. In 2022, it was US$ 1.5 billion. The global market is anticipated to expand at a CAGR of 14.9% between 2022 and 2032. A chip scale package is an integrated circuit that can be surface mounted. Its surface area is 1.2 times no more than that of the original die.

The basis for this description of chip-scale packaging is the IPC/JEDEC J-STD-012. Chip-scale packaging has been one of the most significant advancements in the electronics industry since its introduction because of its several benefits.

Numerous conventional LEDs are made by using a chip fabrication process. The component is attached to the die, such as a package LED embedded in a ceramic substrate. A packed LED references the entire process. The two most crucial elements in chip-scale LED production are the manufacturing process and costs.

Chip-scale LEDs can be produced quickly and can often skip the manufacturing process. Chip-scale LEDs are thought to be the most well-liked trend in the market for chip-scale package LEDs. To be packed, a chip must adhere to a set of standards. In this case, the scale of packaged LED chips is appropriate for the plate, and their manufacturing is straightforward.

Market penetration for these chip scales is slower than it is for traditional packed LEDs. Yet in the next ten years, there would be a lot of room for chip scale.

The chip-size package LED sector will be in great demand owing to its superior qualities and cost savings. Chip scale is crucial for applications that use backlights.

The prospect of omitting essential packaging steps at a low cost could be a constraint on the worldwide market. The packaging or bill material for the product is relatively low-cost.

Key Takeaways

  • The global chip scale package LED market witnessed a CAGR of around 18.1% in the historical period.
  • The North American chip scale package LED market is likely to be about 23.2% in the forecast period.
  • The USA chip scale package LED market is expected to be worth US$ 780.4 million by 2032.
  • Japan’s chip scale package LED market is projected to be worth US$ 1.0 billion by 2032.
  • Based on the power range, the high-power segment is likely to witness a CAGR of 14.6% from 2022 to 2032.

“The main characteristics of chip scale package (CSP) LEDs are advantages over traditional LEDs. As a result, this industry draws in more end customers. Due to the product’s exceptional features, the distribution network will expand over the next 10 years. Numerous variables affect end customers buying these chip scales.” – Says a lead analyst.

Competitive Landscape:

There are several small- and medium-sized businesses operating in the global chip-scale package LED industry. Prominent players strive to spend on research & development projects in order to generate unique products. A few additional businesses are concentrating on releasing highly effective technologies to meet the growing demand.

For instance,

  • In July 2021, Osram introduced a new quantum dot LED named Osconiq E 2835 CRI 90. It will help to expand Osram’s portfolio of high-quality lighting solutions with an innovative mid-power LED.
  • In March 2021, Cree, Inc.’s business unit for Cree LED Products was fully acquired, according to SMART Global Holdings, Inc. The company’s expansion and diversification plan has reached a significant turning point with the completion of its purchase of Cree LED. The company’s other specialty businesses in memory and computing complement Cree LED’s focus on specialized illumination.
PET carbon
Global Trade Daily, Market insight

The Increasing Carbon Black Consumption in Automotive and Construction Activities Proliferates the Global Market Expansion

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The global carbon black market is anticipated to generate revenues of US$ 13, 849.6 million in 2023. Carbon black demand is anticipated to increase at a CAGR of 4.8% and reach US$ 22,133.52 million by 2033.

The increasing carbon black consumption in automotive and construction activities proliferates the global market expansion. The global need is also increased by applications in the manufacture of consumer products, electronics, and tires. Moreover, carbon black is used as a pigment in paints and coatings.

Manufacturers of carbon black are likely to experience further expansion due to the expanding paints and coatings sector, which is being driven by industrialization.

Market Drivers

Adoption of Carbon Black in the Automotive Industry

Turning to the automotive sector, the necessity for tire recycling through the pyrolysis process has increased. This is due to rising concerns regarding how to discard used tires.

The energy that has been wasted has eventually been recovered in the form of heat and other materials. As a result, market expansion is anticipated to be aided by the increased focus on recycling procedures.

The tire industry’s explosive growth and rising carbon black adoption are likely to drive the rubber market during the anticipated period.

Carbon Black Applications in Plastics & Electronics

A substantial percentage of devices produced globally are favored in black. Due to this, carbon black is a popular choice for a wide range of devices. Such as televisions, computers, laptops, and smartphones.

This raises the demand for carbon black from the electronic industry even more. These are a few of the variables that are raising product usage in the production of plastic items and are predicted to drive market expansion.

Market Restraints

The demand for carbon black is being hampered by the harmful emissions of several gasses, during the production process, which includes:

  • Nitrogen oxide
  • Carbon monoxide
  • Sulfur dioxide
  • Particulate matter

These emissions have an adverse influence on the environment, as well as on people’s health. The governments of different nations have therefore set several strict laws.

For example, the IARC (International Agency for Research on Cancer) expressed worry about the product’s potentially dangerous effects on humans. As a result, these factors are preventing the acceptance of new products and are predicted to slow market expansion.

Carbon Black Industry Historical Analysis and Future Outlook (2018 to 2022) vs (2023 to 2033)

The market is shifting in favor of new applications and technologies. For instance, as tire innovation seeks out new and improved LRR (Low Rolling Resistance) with a focus on tire weight reduction, demand for carbon black is likely to increase.

Short-term Growth (2023 to 2026): During this period, demand is driven by the expanding tire sector. Expanding applications in the fiber and textile sectors, and expanding market penetration of specialty black. Due to this, the market is expected to reach a valuation of US$ 15,941.2 million by 2026.

Medium-term Growth (2026 to 2029): Advanced tires require different grades of carbon black based on their performance. It raises the overall adoption and is projected to reach a valuation of US$ 19,229.4 million by 2030.

Long-term Growth (2029 to 2033): The increasing use of activated carbon black has an impact on long-term growth. Activated carbon black is also used in the manufacturing of medical devices and the purification of pharmaceuticals. The activated carbon black market is anticipated to expand due to the rising demand for pharmaceuticals and medical equipment.

Regional Analysis

The United States Carbon Black Market Share Benefited from High Production Capacity

In 2021, the product demand in the United States accounted for a share of 74.0% of the market in North America. One of the world’s leading marketplaces for automobiles is found in the United States.

Due to new domestic cost advantages, key automakers have moved production from other nations to the United States. The country has emerged as a leading center for the car industry due to:

  • Liberal investment policies
  • Sizable consumer market
  • Highly qualified labor
  • Readily available infrastructure
  • Government incentives

As a result, the market is anticipated to gain from a resurgent automobile industry in the United States.

Competitive landscape

How Carbon Black Industry Competitors Create a Strong Presence in the Market?

Due to the rising demand from numerous industries, several market competitors are concentrating on raising carbon black production, which gives a positive outlook for the carbon black industry. Key market participants aim to seize lucrative opportunities in the industry.

This is possible with increasing research & development activities to find out the effective and inexpensive methods to produce carbon black. The market is further expanding as a result of technological advancement.

Key leaders such as Orion Engineered Carbons S.A. and Cabot Corporation are focusing on ongoing strategies to increase production capacity. As capacity is a central concern for the manufacturers.

Cabot Corporation is a leading manufacturer of specialty chemicals. Its network has expanded worldwide and consists of 42 manufacturing facilities in 20 nations worldwide.

Recent development:

A new sustainable carbon black has been launched by Orion Engineered Carbons S.A. for rubber applications. This product is made utilizing plant-based oils of industrial grade that are non-fossil generated, sustainable, and renewable.

A new low (PAH) Polycyclic Aromatic Hydrocarbon, VULCAN 3-LP carbon black, was launched by Cabot Corporation. This launch aims to assist the business in fulfilling its ongoing commitment to customers. Through constant innovation and effective performance.

Cabot Corporation acquired Tokai Carbon Group in March 2022 to acquire the company’s carbon black production facility in Tianjin, China.

communication
Global Trade Daily, Technology

Global IoT Communication Protocol Market to Surpass US$ 24.6 Billion by 2032 Amid Skyrocketing Demand for Smart Home Appliances

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In 2032, the IoT communication protocols Market is anticipated to be worth US$ 24.6 Billion. In 2022, its estimated value was US$ 15.9 Billion. It is likely to see a CAGR of 4.5% between 2022 and 2032.

Consumer electronics are integrating IoT communication protocols as they enable connectivity and communication across devices. These facilitate the development of connected and smart products further.

These protocols give data sharing a defined structure and make it possible for devices from various manufacturers to work together. They aid in guaranteeing smooth data transport and communication. Smart home appliances frequently use Wi-Fi to connect to a network at home and the internet.

Bluetooth is often utilized in audio and wearable technology. Consumer gadgets using IoT connection protocols can perform functions, including remote monitoring & control, real-time data analysis & feedback, and improved device compatibility.

Standardization and interoperability through IoT communication protocols are vital as IoT devices are being adopted more widely in consumer electronics. These are improving user experience and enabling smooth data sharing and communication between devices.

Demand for IoT communication protocols that can support edge devices is expected to increase. Edge computing, which involves processing IoT data at the edge of networks, is set to become highly popular by 2032.

Edge computing decreases the quantity of data that needs to be transferred to the cloud and allows for real-time data processing. It can lower the need for bandwidth while enhancing device performance.

The usage of IoT has increased significantly recently all across the world. Around 8.6 billion IoT devices were present worldwide in 2019. As IoT device adoption accelerated globally, the total number of IoT devices was estimated to be 12.14 Billion in 2022.

By 2030, it is predicted that there will be about 23.14 Billion IoT devices on the planet. The need for IoT communication protocols is anticipated to rise over the course of the assessment period, as there are more IoT devices in use worldwide.

Key Takeaways:

  • The global IoT communication protocol industry exhibited a CAGR of 3% in the historical period from 2017 to 2021.
  • The United States IoT communication protocol industry is expected to be worth US$ 7.5 Billion by 2032.
  • The United Kingdom IoT communication protocol industry is anticipated to reach a valuation of US$ 1.2 Billion in 2032.
  • By type, the Wi-Fi segment is expected to bolster at a CAGR of 4% from 2022 to 2032.
  • Based on application, the consumer electronics segment exhibited a CAGR of 0% from 2017 to 2021.

Competitive Landscape:

Leading developers of IoT communication protocols are concentrating on creating real-time protocols to support IoT applications. Applications, including industrial automation, smart grid management, and autonomous cars would call for quick and dependable data interchange.

Several additional businesses are creating protocols that can be connected with cloud services. They want to make it possible for IoT systems and devices to be managed, monitored, and have their data analyzed remotely. Scalable protocols that can handle a lot of devices and data traffic are still being developed.

For instance,

  • In April 2020, Infineon Technologies revealed its acquisition of Cypress Semiconductor. It encompasses Cypress’s range of IoT communication technologies, specifically Wi-Fi and Bluetooth. Through this acquisition, Infineon Technologies is aiming to enhance its IoT solutions for clients and broaden its range of offerings.
fuel cell stationary
Global Trade Daily, Technology

The Advantages Obtained from Fuel Cell Stationary Power Generation make it a Suitable Alternative for the Future World

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The global fuel cell for stationary power market size is estimated to register a notable CAGR of 11.1% during the forecast period. The market is projected to reach US$ 5,676.8 million by 2033 from US$ 1,981.4 million in 2023.

In search of sustainable energy sources, mankind has explored the technology of hydrogen-powered fuel cells that can replace conventional fuel requirements with efficiency and few pollution levels. With the rapid expansion of stationary hydrogen fuel cells, the cost of technology is declining quickly, further boosting the fuel cell for the stationary power market in recent years.

The combustion-less generation of power by the chemical combination of hydrogen gas makes a system release a negligible amount of pollutants and high efficiency than the traditional power generation methods.

The advantages obtained from fuel cell stationary power generation make it a suitable alternative for the future world. This is further supported by the increasing global population, becoming increasingly concerned about environmental degradation and depleting fossil fuel resources. The market players dealing with any service or product concerning hydrogen fuel cells are predicted to experience significant growth in the coming years.

What are the Present Dynamics of the Global Fuel Cell for Stationary Power Market?

Increased government spending for providing suitable infrastructure for the establishment of clean and green energy sources is the main factor for such remarkable growth in stationary fuel cell power plants in different countries. To make it popular for use in daily life, the market players are optimizing technologies used in the making of fuel cells according to specific purposes.

Unreliability on the electricity supply grid is another main reason for the increased number of installation hydrogen electricity generators by many industrial and commercial units. Also, in the case of other unconventional energy sources, lithium-ion batteries are the quintessential material, which is a non-renewable resource. With the increasing demand for clean energy sources and dismissing stock of lithium elements, the hydrogen fuel cell is predicted to overtake the green energy market.

What are the Key Challenges Limiting the Growth of the Fuel Cell for the Stationary Power Industry?

The oil boom in Northern America and the deregulation of fossil fuels resulting in decreased prices of petroleum and diesel can delay the adoption of hydrogen fuel cells and hamper its development to make it a worldwide market.

The high cost of raw materials and the manpower required to operate is still at a developing stage in many regions. This may pose a key limitation for the market players in the fuel cell for the stationary power market. Providing sufficient service for installation and maintenance with an affordable stationary fuel cell cost is the main challenge that the market players need to overcome to make a successful business.

What is the Competitive Landscape in the Global Fuel Cell for Stationary Power Market?

All the leading market players are continuously investing in research and development activities and developing new products for making their brands popular among consumers.

The growing demand for hydrogen fuel cell generators for homes is the main attraction for new business ventures entering the market and competing with established companies.

The establishment of local players in different geographical regions is a prominent driving factor for the increased amount of mergers and acquisitions undertaken by key players to remain competitive in the stationary fuel cell power plants market.

Recent Developments in the Market

In December 2020, Robert Bosch declared its plans to invest in full-scale production of solid oxide fuel cells (SOFC) and set up a production unit with an annual capacity of about 200 MW. This development is expected to increase the market value of Bosch stationary fuel cells across all the regions

In October 2021, the global power leader Cummins Inc. released the large proton exchange membrane (PEM) electrolyzer that is operational in Quebec, Canada. It is been regarded as the beacon for the zero-carbon future.

silicon
Global Trade Daily, Market insight

The United States Remains one of the Lucrative Markets for Silicon Anode Batteries

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The global silicon anode battery market is anticipated at US$ 2.3 billion in 2022. The sector is gaining pace as companies provide technologically improved silicon anode batteries that are cost-effective & high storage capacity. The market is estimated to garner US$ 131.6 billion in 2033, recording a CAGR of 47.5% from 2023 to 2033. The market is likely to secure US$ 2.7 billion in 2023.

Key Factors Shaping the Demand Outlook of the Silicon Anode Battery Industry:

  • Increasing demand for silicon anode batteries in developing nations like India & China
  • Increasing demand for electric vehicles globally
  • The rapidly growing consumer electronics industry
  • Advancements in battery technology, particularly in the design and manufacture of silicon anode batteries.

Opportunities in the Silicon Anode Battery Industry:

  • Growing demand for silicon anode batteries in the automotive sector
  • Opportunities for research and development to improve efficiency and affordability
  • Increased use of cost-effective manufacturing techniques and advanced raw material
  • Advances in electrical & electronic devices

Which Drivers Underpin Silicon Anode Battery Industry Expansion?

Advances in Battery Technology to Propel the Growth of the Market During the Forecast Period.

Battery technologies are important for delivering advanced performance in a wide range of applications including electric vehicles, consumer electronics, renewable energy, and industrial machinery. As battery applications are growing it has become a priority for lay players to build their position in the market.

Designers are keen on experimenting with new types of negative energy battery material which will act as a better substitute for graphite anodes. Various anode chemistry is in action such as silicon lithium and silicon anode graphite. A large number of next-generation technologies are under development which has the capability to serve large potential markets.

Growing Research & Development Activity Enabling the Market Growth

Some of the leading players are investing in research & development activities to gain a competitive advantage. The product development strategies & and product positions are adopted by suppliers to establish a stronger foothold in the market.

The key players in the silicon anode battery market are actively engaged in various forms of partnership ranging from partnering with battery suppliers, chemical manufacturers, material suppliers, and technical service providers. All these partnerships create new avenues for product development.

Country-wise Insights

Why is the Demand Rising in the United States Silicon Anode Battery Market?

The Presence of Leading Market Players to Boost the Growth of the Silicon Anode Battery Market in the United States

The global silicon anode battery market is expected to be dominated by North America. The market is anticipated to expand at a CAGR of 40.3% over the forecast period. The United States remains one of the lucrative markets for silicon anode batteries throughout the forecast period.

The growth of the market is attributed to the presence of some of the leading market players such as Amprius Inc, and Enevate Corporation among others. Among them, the companies are compressively engaged in patent filling and product development. The United States Department of Energy (DOE) Small Business Innovation and Research (SBIR) also pushing forward silicon anode market participants.

The Start-Up Ecosystem: How Key Players in Silicon Anode Battery Market Are Opening Frontiers for Future Growth?

New players in the silicon anodes battery market such as Leydenjar, Silib, and Ecellix among others, are adopting various marketing strategies such as new product launches, geographical expansion, mergers and acquisitions, partnerships, and collaboration to identify the interest of potential buyers and create a larger customer base. For instance

Founded in 2016 – Leydenjar is the provider of silicon anode technology for lithium-ion batteries. The platform develops pure Silicon anodes that are claimed to generate up to 50 percent more energy density in Li-ion battery cells. The company is currently optimizing the commercial thickness of the anode and fit with the best electrolyte, and proving their technology in pouch cells with 100 cycles.

Founded in 2018- Silib is the provider of silicon anode for lithium batteries. It provides a silicon anode for lithium batteries and has high capacity and ultra-thin durability. It provides silicon anode with a low-cost manufacturing process without using catalysts and silicon alloys

Founded in 2018- Ecellix is a silicon-based anode technology provider of lithium batteries. Claims to improve the charging and life of a battery

Who are the Leading Players in the Silicon Anode Battery Market?

Prominent players in the silicon anode battery market are Amprius Inc, Nexion Ltd, Enovix Corporation, Enevate Corporation, Nanograf Corp, Sila Nanotechnologies Inc, Boston Power Inc, XG Sciences Inc, Eocell Inc, Nanotech Instruments Inc, Zenlab Energy Inc. among others.

Leading players operating in the global silicon anode battery market are focusing on intensive research and development for launching innovative products and services in the market.

Product innovation is the key strategy adopted by market players. Brand consciousness and aggressive marketing by top players however make it challenging for new entrants in this market.

The market players are also emphasizing offering silicon anode battery with high reliability and high performance. The market is benefiting from partnerships with a high focus on innovation.

In November 2021- Panasonic Corporation, Toyota Motor Corporation and Nexeon, the company developing advanced silicon materials for next-generation lithium-ion batteries, have agreed to extend their funded joint development agreement (JDA). The partners will focus their work on the commercialization of e-mobility applications of lithium-ion batteries.

In May 2022 – Sila, a next-generation battery materials company, today announced the purchase of a facility with more than 600,000 square feet of space located in Moses Lake, WA to be used to manufacture Sila’s breakthrough lithium-ion anode materials at automotive volumes and quality. Powered with hydropower, the facility is located on 160 acres of land close to rail lines for convenient and efficient shipping.

In February 2021- Zenlabs Energy, an advanced lithium-ion cell company, announced that Idaho National Laboratory (INL) has successfully tested over 1,000 charge-discharge cycles from their high-energy Silicon anode pouch cells. Zenlabs is the recipient of $4.8 million, 50% cost share development contract from the United States Advanced Battery Consortium LLC (USABC) to develop low-cost, fast-charge electric vehicle (EV) batteries