Container Shipping Market Size and Trends, 2025

21 December 2018 –

The global Container Shipping Market is estimated to exhibit a steady growth over the forecast periodowing to increasing number of manufacturing units and factories in developed as well as developing regions. Container shipping makes use of multi-sized vessels, including 20, 40, 45, 48, and 53 feet for the transportation of goods from one place to another. Twenty-foot Equivalent Unit (TEU) and Forty-foot Equivalent Units (FEU) are the most widely used container sizes. The type and size of these containers comply with regulations set by the International Organization of Standardization (ISO) for easy transportation through trains, trucks, cranes, and ships. The most commonly used type is special or dry cargo, which can further include half-height, open side, open top, open end, flat rack, liquid bulk, modular, and refrigerated. Flat racks are used for boats, vehicles, and industrial equipment. Open side vessels are employed for transportation of vegetables, whereas open top are utilized for easy loading of odd-sized machineries and goods.

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Moreover, rising demand for transportation services across the globe is also likely to drive the market over the coming years. On the other hand, growing shipping freight may pose a challenge for the global market. However, revolutionizing IT sector and growing usage of automation solutions in container transfer processes at ports, such as ship to shore operations of APM terminals at Rotterdam and the TraPac terminal in LA, are projected to support the industry growth. Furthermore, growing number of mergers and acquisitions activities is projected to have a positive impact on the market growth. For example, Ocean Network Express (ONE), a new joint venture, announced by three Japanese companies including K-Line, NYK, and MOL, received merger approvals in the recent past and the new firm started its operations in April 2018.

IBM Corp. and Maersk Group recently announced a new blockchain-based joint venture to offer a global trade digitization platform and address the needs for simplicity and transparency in shipping across border and trading zones. Development of block chain technology to support the intercontinental e-commerce will eventually fuel demand for the product in the years to come. The market is expected to witness significant growth in developed regions, such as North America and Europe on account of presence of better transportation services. U.S. is the leading country for container transport in North America, followed by Canada. Whereas in Europe, countries including, U.K., Germany, France, Italy, and Spain, are likely to contribute significantly to the market growth.

Asia Pacific is projected to witness potential growth opportunities on account of presence of several developing nations, including Japan, China, and India and emergence of a number of leading companies due to low labor costs. Rising number of manufacturing units in the region is also contributing significantly to the growth. Key companies are adopting marketing strategies, such as partnerships, mergers and acquisitions, joint ventures, novel product development, and technological innovations in order to strengthen their position in the market. For instance, recently at Innovation Expo 2018, Kotug demonstrated its remote-controlled tug, which can eliminate risks to crew members during normal ship handling operations. The demonstration was a joint industry project supported by several stakeholders including Alphatron. Kotug believes that this development will eventually lead to unmanned autonomous shipping.

Some of the prominent companies operating the global container shipping market are A.P. Moller–Maersk Group; HAPAG-LLOYD AG, China Ocean Shipping Company, Mediterranean Shipping Company S.A., China Shipping Container Lines Co., Ltd., and Hanjin Shipping Co., Ltd.

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US Forklift Market is Expected to Register Significant CAGR till 2025

13 November 2018, The U.S. Forklift Market size to reach USD 11.94 billion by 2025, owing to the rise in the construction, building and infrastructural activities in the country. The U.S. forklift market is expanding owing to the swift infrastructural development and industrialization, mainly in the industrial, commercial, and housing industry and is expected to grow significantly over the forecast period. The Forklift industry in the U.S. is undergoing constant innovations and technological advancements owing to the rapid advancement of fabrication techniques and high end use of forklifts in the construction industry, which is expected to fuel the forklift market growth over the forecast period.

The electric type forklift trucks segments held the largest share in the market and is expected to grow at a significant rate over the forecast period. The electric type forklift trucks are gaining popularity owing to the employment of several cutting-edge technologies and the ease of use in various end-use applications throughout industries such as construction industry, manufacturing industry, freight handling end-uses which is anticipated to fuel the growth of the forklift industry over the forecast period. The electric forklift trucks are used for most of the warehouse and indoor applications. They also come in compact sizes and can move standard loads while sustaining the capacity to completely function in small spaces around 11 feet wide. More and more number of industries and companies are nowadays replacing, purchasing and upgrading to electric forklifts as they are more energy-efficient and environmentally friendly. Electric forklifts are a genuine substitute to lift trucks which are fueled by liquid and are more cost-effective and economical to run, equally potent and powerful, safe, easy to maintain, cleaner and quieter.

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The electric forklift trucks are cheaper and easy to maintain and operate as compared to IC forklifts. Electric forklifts needs very low maintenance due to the presence of few moving parts, requires few fluids replacement such as engine oil, filters, and coolant. Furthermore, they also have significantly less hours lost due to maintenance interruption and failure or breakdown and just need an AC power source to charge or a spare battery which is expected to drive the demand for electric forklifts over the forecast period.

Forklifts trucks and industrial trucks mainly offer the competence of lifting, engaging, repositioning, depositing, and carrying several types of loads which is further anticipated to complement the industry growth in the coming years. The ever-increasing demand for forklift trucks in logistics storage and warehousing is estimated to boost the growth of the market over the forecast period. The demand for forklift trucks is growing on account of the rising trend of electric forklift being used by the warehouses and material handling divisions as these electric forklift are energy efficient and environment friendly as compared to internal combustion engine (ICE) forklift which is anticipated to fuel the product penetration of forklifts over the forecast period in the country over the forecast period.

The U.S. forklift market is a highly fragmented in nature with a large number of existing and emerging new players. Major players in the forklift industry comprise of companies such as Hyster-Yale Material handling Inc., Crown Equipment Corporation, Cat Lift Trucks, Clark Material Handling, Toyota Material Handling U.S.A. and several others. Competitors are taking strategic initiatives and gaining confidence of their consumers to occupy a good market share and boost the competition in the market over the forecast period.
Hexa Research has segmented the U.S. forklift market report based on type and end-use:
Segmentation by type, 2015 - 2025

• Internal combustion forklift
• Electric forklift
• Automated guided forklift

Segmentation by end-use, 2015 - 2025

• Construction industry
• Manufacturing industry
• Freight handling applications

Key players analyzed:

• Hyster-Yale Material handling Inc.
• Crown Equipment Corporation
• Cat Lift Trucks
• Clark Material Handling
• Toyota Material Handling U.S.A.

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US Electric Vehicle (EV) Charging Infrastructure Market Size and Share, 2025

23 September 2018-
The U.S. Electric Vehicle Charging Infrastructure Market is expected to reach USD 4.37 billion by 2025 as a result of increasing demand from widespread applications owing to its features such as high quality, cost effective, and Eco-friendly. U.S. government and the insurance companies are taking efforts to promote the sell and usage of EVs. For instance, tax benefits are provided to the customers at the time of purchase. 
Furthermore, countries like France and UK are offering discounts on insurance and bonus on payments to EV buyers. With the increase in the number of sale of EV vehicles, need for supporting charging infrastructure is also expected to grow which is anticipated to aid in the growth of this market over the foreseeable future.

U.S. EV charging infrastructure comprises dedicated setups installed for charging vehicles, powered by an electric engine. The growth of this market is marketed majorly by initiatives taken and investments made by the U.S. governments for developing electric vehicle enabled infrastructure throughout the country. For instance, the initiatives involved building of free as well as paid charging spots in parking areas and other important road corridors.

The growing concerns for curbing the levels of carbon emission and other harmful gasses are some of the factors compelling the adoption of Electric Vehicles (EVs). Moreover, increasing demand for EV- enabled infrastructure is one of the requirements, which is further promoting the adoption of EVs.

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Growing concerns of carbon emissions in many metropolitan cities have been facing smog and air quality issues which can result in respiratory diseases. The increasing levels of carbon emission in the environment are promoting the adoption of electric vehicles that they are environment-friendly and do not emit tailpipe pollutants. These factors imply the growth of the U.S. electric vehicle charging infrastructure market.

In the United States, insurance companies are providing discounts on insurance policies to customers and utility companies are offering low electricity rates. Also, there are few states that are offering credits to electric vehicle manufacturers and buyers for their costs and purchase of charging equipment.

Government is providing attractive subsidies and tax credits on the purchase of EVs in order to promote the adoption of Electric Vehicles (EVs). In addition, the development of supporting infrastructure at public places is necessary and is expected to further propel the segment growth, as overnight charging or charging at homes would not be sufficient.

Hexa Research has segmented the U.S. electric vehicle charging infrastructure market report based on type, connector and application

Segmentation by type
• Slow Chargers
• Fast Chargers

Segmentation by Connector
• CHAdeMO
• Combined Charging System (CCS)
• Others

Segmentation by application
• Commercial
• Residential

Key players analyzed:
• ChargePoint, Inc.
• AeroVironment Inc.
• General Electric Company
• Leviton Manufacturing Co. Inc.
• SemaConnect, Inc.
• Tesla Motors, Inc.
• ClipperCreek, Inc.

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US Dump Truck Service Market Size is Expected to Witness a Significant Growth till 2025

12 September 2018 - 

The U.S. Dump Truck Service Market to reach USD 20.64 billion by 2025, owing to the rise in the construction and mining activities in the country. The U.S. dump truck service market is expected to grow significantly owing to the rise in the expenditure in the construction industry as more and more number of construction projects are coming up in the New York City. The demand and need of dump truck services in the construction and mining activities is high. The dump trucks are the core of the construction industry as they help to move construction material from one place to another. They also have a major role in handling and delivering large load of material during building and construction activities. The dump trucks come in multiple sizes which can carry any load of rock, mulch, and dirt. The small dump trucks are basically used for residential and local deliveries which also haul away large amount of materials from the sites. The basic function of a dump truck is to deliver, transport, and haul the material from one site to another and with the rise in the number of companies offering dump truck services is expected to drive the growth for this market over the forecast period.

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The non-liquid & non packaged cargo type dump truck segment dominated the market in 2016 and is expected to maintain its dominant position over the forecast period owing to the use of solid material during construction and building activities. Non liquid & non packaged cargo dump trucks are now a days equipped with GPS technology in order to give customer the control and so that customers can track the material and can control the loading and offloading. Additionally, there are specific laws on using the dump truck services in the U.S. states such as it mandatory to cover and secure the material and load while carrying the load to a distant site as sometimes they cause inconvenience to the frequent travelers on the road if the debris goes out of control and starts falling out hitting other vehicles. Some of the certifications are required by the driver to drive the dump truck such as dump truck operations CBT certificate and dump truck tailgate removal and installation CBT certificate in the U.S.

The use of dump truck services in the U.S. is mainly in the construction and mining industry. Dump trucks are a basic necessity and requirement on the construction site for various activities such as land moving, hauling of heavy materials, transport and haul dirt and other materials to, and fro from the site. The dump truck services offer facilities such as yard waste removal, topsoil and mulch delivery, construction waste removal, swimming pool dirt removal swimming pool base material delivery, hauling agricultural products and dredge materials, rock and stone delivery, sand and gravel delivery, industrial waste, excess dirt removal and snow removal for residential and commercial customers.

The market for dump truck services is fragmented and competitive in nature. There are several players in the market delivering services in the U.S. and the competition is expected to grow over the forecast period. With the rise in the construction activities in the country the players are also focused on providing building and other material in order to increase their sales in the market.

Hexa Research has segmented the U.S. dump truck service market report based on type and end-use:

Segmentation by type, 2015 - 2025

    • Non liquid & non packaged cargo

    • Others

Segmentation by end-use, 2015 - 2025

    • Construction industry

    • Mining industry

    • Others

Key players analyzed:

    • Terex Trucks

    • Caterpillar

    • Komatsu

    • Hitachi Construction Machinery

    • John Deere

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Low Cost Car Market Size and Analysis Report, 2025

11 September 2018

The Global Low Cost Car Market size was estimated to be over 80 million units in 2015. Increasing purchasing power parity along with mobility needs are expected to drive market at a healthy CAGR. High demand from first-time vehicle buyers is supposed to further boost the growth over the forecast period.

After global recession of 2008, major companies in automotive industry found it difficult to balance between future market demand and financial crisis. However, inexpensive vehicles proved to be an answer to tackle this crisis. Rising automotive demand from middle class customer segment also played a crucial role in recovery from the economic crisis.

Cheap car prices range up to USD 9000. Inexpensive cars are designed by keeping low-income group in mind. Lower per unit profit margin can be compensated by bulk sale volumes. Easily available financial assistance is expected to be a key market driver. Increasing income level of middle class in emerging regions is another major driver for low cost car market. Government subsidies providing the required leverage is anticipated to bode well for the budget vehicle segment.

Increasing popularity of online vehicle stores is expected to emerge as an attractive option for car manufacturers and customers as it cuts down cost of appointing new distributors. E-commerce also provides customers with a choice of buying vehicle directly from the distribution center. Cost constraints restrict automotive manufacturers from employing advanced technologies and cars only have simple mechanical assemblies. Budget vehicles are designed in such a way that they can be repaired by local mechanics. This makes them an affordable option for consumers.

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Passenger safety is one of the greatest challenges as manufacturers find it hard to use higher security components under specified budget. Emission regulations like EURO III and EURO IV and other such stringent safety and environmental regulations make it difficult to keep production cost to a minimal. Diverging market conditions, digital demands, and shifting competitive landscape are other challenges faced by budget vehicle manufacturers.

Stringent environment regulations require automotive pollution control, which mainly depends upon overall vehicular weight. Use of low weight high strength materials such as composites can be a solution but expensive solution. Hence, cost constraints associated with inexpensive cars makes it challenging for the manufacturers.

Strategic alliances with suppliers are expected to be a key to maintaining profitability in the low cost car market. Budget cars are based on the design to cost concept. This concept provides an array of opportunities for suppliers to participate with significant responsibility. Examples of such opportunities include engine controls and anti-lock braking systems developed by tier-1 suppliers like Bosch. The company has partnered with TATA Motors for developing common rail diesel injection system for a new model of TATA Nano.

Growth of this market largely depends on the quality of end product. Sometimes the entire business model has to be reviewed to achieve the same. Manufacturers are setting up facilities in high demand markets. This gives strategic advantage to the companies familiar with local markets as they have detailed knowledge about pricing trends and key purchasers.

Based on fuel type, inexpensive cars can be either petrol or diesel. Petrol fueled vehicles were expected to enjoy a greater share owing to price sensitivity of first-time buyers. Petrol engines being cheaper than diesel engines are supposed to be the preferred choice amongst consumers in this segment.

India and Southeast Asia are expected to be the emerging markets for low cost cars. Meanwhile, Chinese and Russian markets are projected to move beyond the cheap vehicle segment due to increase in income levels. Asia Pacific is anticipated to dominate the global market in terms of sales, with China being a key market. India is also anticipated to emerge as a prominent region by the end of the forecast period.

Lower entry level prices are supposed to generate a larger customer base. Pricing policies will be of strategic importance for such price sensitive segments. Major companies operating in low cost vehicle market include TATA Motors, Maruti Suzuki, Hyundai, Renault, Chery, Geely, and Fiat. Most players are primarily focusing on launching new brands specifically for budget cars to create product differentiation.

For instance, Renault acquired Dacia, a Romanian auto maker to introduce a cheap car Logan in Europe and India. General Motors which introduced a mini car Spark, is expected to introduce another budget vehicle in the coming years. Skoda is planning to invest in product development with an aim to expand its presence in India.

Other modern low cost vehicle includes TATA Nano, Geely HQ SRV, Chery A-1, and Maruti Suzuki 800. Large companies are focusing on cooperative agreements to strengthen their position in emerging markets. Efforts put in by various automotive manufacturers to increase market penetration is expected to foster market growth over the forecast period.

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All Terrain Vehicle Market - Industry Analysis, Size, Growth, Trends and Forecast to 2024 - Hexa Research

The global All Terrain Vehicle Market was estimated at USD 6 billion in 2015. It will grow at a CAGR of around 5% during the forecast period (2016-2024). The market should exceed USD 9 billion by 2024. All terrain vehicles (ATVs) are popularly known as quads, three-wheelers, quad bikes, or quadricycles.
ATVs are single-seated open motor vehicles with either three or more tires. These tires are specifically designed for rough terrains. Quads are ridden over rugged grounds, sand dunes, or paved & unpaved roads. The growing trend of recreational activities; such as off-roading and racing can also drive the market till 2024.

Demand for unique riding has increasingly led recreational centers to add ATVs to their amenities. The need for technically advanced features is projected to raise product costs, hampering the market.
To reduce fatalities & injuries; regulatory bodies, like ASI (All-Terrains Vehicle Safety Institute) have standardized the adoption of safety equipment. Protective gears; such as seatbelts, helmets, goggles, and others are mandatory for quad riders.

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Moreover, the ‘Consumer Product Safety Commission’ (CPSC) has laid down rigid rules that prohibit children under the age of 16 to ride ATVs. Its rules have also limited the number of people riding on single ATVs.

The market is divided on the basis of products, applications, and regions. The products comprise sports utility, sports, utility, and youth. Sports utility ATVs contributed around 28% shares in 2015. Sports utility and sports ATV segments are expected to contribute significantly to industry growth during the forecast period. Youth ATVs stood over USD 750 million in 2015.

Applications encompass agriculture, forestry, entertainment, sports, military & defense, and others. Military & defense accounted for more than 9% shares in 2015. Agriculture is projected to grow at a CAGR of over 5% till 2024. It often employs ATVs instead of tractors and other heavy equipment.
Regions in the all terrain vehicle market consist of North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa (MEA). The U.S. and Canada are estimated to dominate the global ATV market in the forecast period.

North America should account for the biggest industry in the near future. It is driven by the United States. The U.S. captured over 50% of the worldwide market in 2015.

Asia Pacific market generated about 12% of the total incomes in 2015. It should exhibit the fastest growth from 2016 to 2024. Its trend of ‘power sports’ will augment regional demand. The China industry held over 35% shares in Asia Pacific. Economic adjustments in this region can add industrial growth.

Key competitors in the worldwide all terrain vehicle market are Arctic Cat, Honda, Polaris, and Yamaha. Players often participate in mergers and acquisitions to gain a competitive edge. Yamaha was projected as the third largest vendor after Honda and Polaris. It occupied more than 17% shares in 2014.

Key companies invest heavily in research & developments for effective product innovations and novel technologies. The constant need to improve product performance & characteristics makes it possible for manufacturers to stay competitive.

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Automotive Fuel Cell Market to reach over 10, 850 units by 2024

The global automotive fuel cell market was estimated over 5, 000 units in 2015. It would grow at a CAGR of nearly 13% in the forecast period (2016-2024). The market can reach over 10, 850 units by 2024. Expansion across fuel cell vehicles or FCVs owing to pollution-awareness will drive the industry in the near future.

FCVs or fuel cell electric vehicles (FCEVs) run primarily on hydrogen. About 80 million tons of hydrogen are generated each year to cater to the demand for hydrogen fuel cells in FCEVs. Hydrogen infrastructural developments are the key market propeller.

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In 2015, the transportation sector largely contributed to carbon dioxide emissions in the U.S., adding to the greenhouse gas problem. The use of FCEVs may curb pollution. A fuel cell contains electrodes. It converts chemical energy into electrical through electromechanical reactions. Electrolytes move electrically-charged elements from one electrode to another, speeding-up chemical reactions in cells.

Biogas, natural gas, and other alternatives are used in fuel cells. This aids in reducing & eliminating noise & air pollution, as hydrogen in combination with oxygen, creates water. FCEVs are free of combustion during energy production.

Low corrosion and lack of ‘high operation temperature’ owing to the absence of combustion are likely to boost the longevity of vehicles. This coupled with their lower maintenance costs can add industry growth. Research & development (R & D) activities should create business opportunities, leading to more employments.

High costs of automotive fuel cells are predicted to hamper the industry. Moreover, lack of technological advancements can hinder the industry. The Automotive Fuel Cell Market is split into applications and regions.

Applications include light-duty vehicles and materials handling. The former accounted for over 50% of the worldwide consumption in 2015. It will also dominate during the next eight years.

Many vehicle manufacturing firms have begun running ‘automotive fuel cell’ programs to encourage technological advancements. Light duty vehicles would grow at around 12.5% CAGR from 2016 to 2023. Their growth should be attributed to technological innovations and their reducing costs.

Materials handling is projected to witness a CAGR of about 15% in the near future. Its applications across airports, distribution centers, and inventory management can contribute segment expansion in the eight years ahead.

In addition, minimal operating costs and low-needed maintenance of these cells can raise market incomes. Regions encompass North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa (MEA). Asia Pacific led in terms of demand, capturing over60% of the total volumes in 2015. It is anticipated to display significant growth accredited to regional support on product promotions.

Europe may surface as a key region. To commercialize fuel cell technology, the U.S. Department of Energy (DOE) rewarded over USD 7 million in 2013. Due to constant assistance from the U.S. DOE, private firms, & national laboratories; the Automotive Fuel Cell Market has noticed upward trends in the last few years.   

The worldwide market is highly competitive and characterized by numerous large players and small & medium-sized enterprises. Major competitors are Toshiba, Panasonic, Ballard, Plug Power Inc., and Acumentrics SOFC Corporation.

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Global Automotive Sunroof Market is Predicted to Register 10% CAGR till 2024

The worldwide Automotive Sunroof Market was valued at around USD 4.70 billion in 2014. The industry is expected to grow at nearly 10% CAGR and surpass USD 9 billion from 2016 to 2024 (forecast period). The use of smart glass in vehicles is anticipated to impel industry growth in the coming years. Rising vehicle owners and worldwide population have contributed to added market sales. Growing popularity of automotive sunroofs has also contributed to overall demand. Furthermore, the after-sales trend in the Asia Pacific region has furthered market growth.

Consumers expect more comfort in their cars, with such a roofing system. They opt for sunroofs & other luxurious features for their economy-class vehicles. Around half of all new cars sold will be fitted with sunroof systems in the years to come. These would include convertibles, full glass sliding, and retractable hardtops. Alternate fuel vehicles may encourage car manufacturers to make ‘built-in solar cell’ sunroofs, powering vehicles. Technological developments in solar roofs for EVs (Electric Vehicles) can propel the global Automotive Sunroof Market in the forecast period.

The Automotive Sunroof Market is divided into applications, products, and geographies. Products include fabric and glass. It is expected that the glass segment may continue to dominate the global market from 2016 to 2024. Glass is further divided into pop-up, inbuilt, spoiler or tilt & slide, top mount, and panoramic. The panoramic or the vista roof segment can grow at a CAGR exceeding 15% in the forthcoming years. Greater preference for bigger sunroofs contributes to its demand.

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Fabric sunroofs include foldable or rag-tops and removable sunroofs. The fabric sunroof industry in Europe and North America is mainly driven by demand for foldable sunroofs. Most vehicle manufacturers provide either inbuilt or optional systems, in their mid to premium range of cars. The inbuilt glass car sunroof industry contributed to more than 40% of the total market shares in 2014. This industry may expand at over 7% CAGR till 2024. Increasing aftermarket & factory-installed product demand could stimulate the Automotive Sunroof Market.

On the basis of applications, the industry is divided into hatchback, premium cars, sedan cars, and others. The premium cars segment is popular in regions, like India, South Korea, China, and Thailand. Rising demand for luxury cars in these markets is attributed to rising disposable incomes.

Geographies in the global Automotive Sunroof Market include North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa (MEA). North America and Europe may exhibit significant growth from 2016 to 2024. The Europe sunroof industry was estimated at around USD 1.7 billion in 2014. It is projected to grow at nearly 9.5% CAGR in the coming years. A key factor driving this market is the demand for luxury vehicles in the U.K. and Germany.

The Asia Pacific sunroof market can witness a growth of over 11% CAGR till 2024. Emerging automotive manufacturing hubs in countries, like India, China, and Japan can contribute to the demand in this region.

Key players in the global Automotive Sunroof Market are Webasto, Inalfa Roof Systems, Johnan America Incorporated, Mitsuba Corp, and Inteva Products. Partnerships, new product development, and research & development, are the main business expansion strategies adopted by these companies.

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Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

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