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Rail Components Market – Growth, Trends, and Forecast (2019 – 2024)

Automotive Published by: Mordor Intelligence Market: Global
102 pages Published: 23-07-2019
  • Automotive
  • Mordor Intelligence
  • Global
  • 102 pages
  • Published: 23-07-2019

Market Overview

 

The rail components market is expected to reach USD 89.23 billion by 2024, while projecting a CAGR of 3.28%, during the forecast period.

 

 

Expanding rail network and increasing demand for passenger and freight transportation are driving the demand for the manufacturing of bogie, couplers, and body across the emerging and matured markets. The shift in trend toward deploying diesel-electric multiple units and electric multiple units from conventional diesel locomotives in the emerging markets has urged the manufacturers to expand their production bases, in order to benefit from import taxes and attain supply chain optimization, thereby, extending their support to promote the in-house manufacturing agenda of the developing countries.

 

 

The manufacturing costs for the braking and suspension system of the bogie captured a significant share of the bogie assembly production. Companies, like Knorr-Bremse, Akebono Brake Industry, Federal Mogul, etc., have been offering braking components to rolling stock across major countries.

 

 

Currently, China dominates the market for rolling stock and rail components, in terms of market value and volume, owing to the higher concentration of manufacturing facilities and operating number of rolling stocks in the country.

 

 

With the increased spending on procuring rolling stocks across the major markets, the demand for rail component manufacturing is anticipated to grow over the forecast period.

 

 

Scope of the Report

 

The report on rail components market covers bogie, engine, and other components (couplers, body frames, etc.)

 

 

Key Market Trends

 

Engine is Expected to be the Slowest Growing Segment in the Rail Components Market

 

The engine segment of the market studied was valued at USD 22.22 billion in 2018.

 

Steam and conventional diesel engines or locomotives are prominent in the market studied, with the latter category capturing more than 50% of the total number of operating trains across the world. China, being the largest market for rolling stock, comprises approximately 48% of diesel engines and 52% of electric multiple units.

 

 

Operational efficiency, maintenance, and operating costs are the factors that caused the replacement of steam engine with diesel and diesel-electric locomotives. The maintenance cost for the steam engine is the highest, followed by that of diesel and electric. Despite this, diesel locomotives are in the process of replacement by EMUs in the emerging markets, while 

North America is known for its demand for diesel engines. For instance –

 

 

– In the last quarter of 2018, Amtrak announced that it would be purchasing 75 charger locomotives, with the deliveries starting in 2021. All in all, the value of Siemens Mobility contracts for the year involving the charger, including the Amtrak purchase, exceeded USD 1.5 billion. Cummins is the supplier of diesel engines to the Siemens locomotives. In addition, the company won another contract worth EUR 639 million, which was signed with the Canadian company Via Rail for the supply of 32 train sets powered by charger diesel locomotives, by the end of 2021.

 

The engine segment of the market is expected to grow at a slow pace, owing to the demand arising from new orders, when compared to bogie and couplers, the demand for which is generated from the replacement market as well.

 

 

Asia-Pacific is the Fastest Growing Region

 

 

Asia-Pacific dominates the rail components market. The region is expected to witness the fastest growth rate during the forecast period.

 

 

In the Asia-Pacific region, India is the second-largest market for rail components and the country accounted for 8.22 % of the market in 2018. The country is expected to witness the fastest growth during the forecast period. The Indian rolling stock market is witnessing a steady growth, driven by the new metro projects coming up across the country, as well as the extension of existing lines. As of March 2018, approximately 2,115 railcars were operational across nine metro rail projects. In early 2019, the Ministry of Railways increased the allocation toward the procurement, upgradation, and maintenance of rolling stock by 64%.

 

 

Given the rapidly increasing ridership, the major cities across the country are experimenting with state-of-the-art transport technologies to make urban rail systems more reliable, efficient, and passenger friendly. The Indian metro systems are steadily moving from semi-automatic to unmanned/driverless train operations. Most of the upcoming systems are exploring the deployment of advanced technological solutions for the safety and comfort of commuters.

 

 

The emergence of the metro sector and the government’s focus on improving public transportation in the county have not only resulted in the development of the metro coach industry, but also in the growth of the equipment and spare parts industry. Metro coaches and other parts, including battery boxes, window glasses, bogie frames, brake blocks, propulsion systems, and vacuum circuit breakers, are being manufactured in India. The government’s Make in India initiative laid special emphasis on promoting manufacturing activities within the country. This, in turn, is expected to drive the market for rail components in India.

 

 

Competitive Landscape

 

The market for rail components is a consolidated one with the top four major players holding more than 50% of the market share. Other important players, such as Hitachi, Wabtec Corporation, CAF, The Greenbrier Companies, and Kawasaki Heavy Industries, hold a relatively smaller market share, and they are in the process of expanding their operations in both home and international markets.

 

The rail industry is one of the critical backbones of the economic framework of many countries, as a result, there is increasing interference from regulatory bodies and competition commissions in fructification of mergers, acquisitions, and collaborations.

 

Reasons to Purchase this report:

– The market estimate (ME) sheet in Excel format
– Report customization as per the client’s requirements
– 3 months of analyst support

1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.4 Market Restraints
4.5 Industry Attractiveness – Porter’s Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Component
5.1.1 Bogie
5.1.1.1 Brake System
5.1.1.2 Suspension System
5.1.1.3 Wheel and Axle
5.1.1.4 Other Bogies (Gear Box, Motor, and Supporting Frames)
5.1.2 Engine
5.1.3 Other Components (Couplers, Body Frames, etc.)
5.2 Geography
5.2.1 North America
5.2.1.1 US
5.2.1.2 Canada
5.2.1.3 Mexico
5.2.2 Europe
5.2.2.1 Germany
5.2.2.2 UK
5.2.2.3 France
5.2.2.4 Rest of Europe (Russia, Italy, Ukraine, Romania, Poland, Spain, and Sweden)
5.2.3 Asia-Pacific
5.2.3.1 China
5.2.3.2 Japan
5.2.3.3 India
5.2.3.4 Rest of Asia-Pacific (Kazakhstan, Indonesia, Pakistan, Thailand, and North and South Korea)
5.2.4 Rest of the World
5.2.4.1 Brazil
5.2.4.2 South Africa
5.2.4.3 Other Countries (Argentina, Iran, and Turkey)

6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Mergers and Acquisitions
6.3 Company Profiles
6.3.1 CRRC Corp. Ltd
6.3.2 Siemens AG
6.3.3 Bombardier Inc.
6.3.4 Alstom SA
6.3.5 Wabtec Corp. (previously GE Transportation)
6.3.6 Hyundai Rotem
6.3.7 Stadler Rail AG
6.3.8 The Greenbrier Companies
6.3.9 Trinity Industries Inc.
6.3.10 Construcciones Y Auxiliar De Ferrocarriles SA
6.3.11 Escorts Group
6.3.12 Hitachi Ltd
6.3.13 Progress Rail (Caterpillar Company)
6.3.14 Nippon Sharyo Ltd
6.3.15 Kawasaki Heavy Industries Ltd

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

8 Disclaimer

MARKET SEGMENTATION

 

 

By Component
Bogie
Brake System
Suspension System
Wheel and Axle
Other Bogies (Gear Box, Motor, and Supporting Frames)

 

Engine
Other Components (Couplers, Body Frames, etc.)

 

Geography
North America
US
Canada
Mexico
Europe
Germany
UK
France
Rest of Europe (Russia, Italy, Ukraine, Romania, Poland, Spain, and Sweden)
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific (Kazakhstan, Indonesia, Pakistan, Thailand, and North and South Korea)
Rest of the World
Brazil
South Africa
Other Countries (Argentina, Iran, and Turkey)

 

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Luxury Car Market – Growth, Trends, and Forecast (2019 – 2024)

Automotive Published by: Mordor Intelligence Market: Global
100 pages Published: 22-07-2019
  • Automotive
  • Mordor Intelligence
  • Global
  • 100 pages
  • Published: 22-07-2019

Market Overview

 

The luxury car market (henceforth, referred to as the market studied) is anticipated to register a CAGR of about 5.83% during the forecast period (2019 – 2024).

 

– A rise in tangible luxury offerings in vehicles, shifting consumer preferences from sedan to SUVs, and increasing disposable incomes of consumers have been propelling the demand for luxury cars around the world. However, there are a few factors, such as an increase in import tariffs, which are expected to hinder the growth of the luxury car market. For instance: the US President-elect may increase the import tariffs on German luxury cars. The BMW and other Germany luxury car manufacturers may have to face a 35% import duty for cars not manufactured in the United States.

– The growing trend of electric luxury vehicles across the regions is fueling the demand for luxury cars. With the growing environmental concerns, the governments, and environmental associations across the world are tightening the emission norms. As a result, major luxury car manufacturers are launching electric variants of their vehicles, which is expected to accelerate the growth of the luxury car market over the forecast period.

– Some of the major players in the market studied are Mercedes-Benz, BMW, Lexus, Audi, Volvo, Land Rover and Jaguar, and Tesla. In 2018, Mercedes-Benz dominated the luxury car market, with a market share of approximately 16%, followed by BMW. The other players in the market studied include, Ferrari, Lamborghini, and Porsche, among others.

 

Scope of the Report

 

The global luxury car market covers all the latest R&D initiatives, investment done by the governments, and vehicle manufacturers across the world. The scope of the report includes

 

Key Market Trends

 

IC Engines Expected to Witness Slow Growth Rate

 

The IC engine segment of the market studied is currently leading the market studied, however, it is anticipated that the demand for IC engine vehicles may slow down over the forecast period. At present, major players, such as Mercedes-Benz, BMW, and Audi cover a significant percentage of share in the drive type market segmentation in the global luxury car market.

 

With the growing environmental concerns, owing to rising exhaust emissions, the governments and environmental associations across the world are tightening the emission norms. As a result, the demand for sustainable and environment-friendly transportation, such as EVs, is increasing, with governments offering higher incentives and subsidies to the owners of these vehicles.

 

– For instance, China registered the highest number of new EV registrations in FY 2017-2018.

– However, North America is expected to lead the luxury EV sales, owing to high disposable incomes and the availability of EV infrastructure in the region. The growing demand for style, power, and advanced telematics is also expected to continue to propel the demand for luxury EVs.

– Additionally, luxury car component manufacturers are focusing on the development of next-generation smart mobility technologies, such as autonomous driving, personal voice assistance, and retina recognition, which are also expected to boost the sales of luxury EVs.

 

The Asia-Pacific Region is Expected to Witness the Fastest Growth Rate

 

The Asia-Pacific region is expected to witness the fastest growth rate during the forecast period.

 

Currently, China is one of the largest markets for luxury cars among all developing countries in the luxury car market. The premium car manufacturers, such as Audi, Mercedes-Benz, BMW, and Lexus, have always maintained positive growth in the Chinese luxury car market. In 2017, luxury cars in the country accounted for more than 9% of the overall passenger cars sales. With the growing business opportunities in the country, the market for luxury cars is expected to witness moderately fast growth.

 

Mercedes and BMW have dominated the luxury sedan segment of the Indian Market. In 2017, Mercedes India registered 16% growth compared to 2016. C-Class and E-class are the majorly sold models by the company.

 

Competitive Landscape

 

Some of the key players of the luxury car market are Daimler AG, BMW, Volvo, Volkswagen Group, and Aston Martin. The market studied is highly driven by the factors, like advanced technology, more comfort, growing investment in R&D projects, and a growing standard of living of people around the world. To provide more luxurious experience to the people, major luxury car manufacturer are entering into joint ventures with technology providers. For instance: In February 2019, Daimler AG and BMW AG have agreed to cooperate on developing self-driving cars. Both the manufacturers have signed a memorandum of understanding (MoU) to jointly develop the next generation of autonomous-driving technology, which should be market-ready by the middle of the next decade.

 

Mercedes Benz, which is a top manufacturer of luxury cars, brings in a range of new technologies, in order to increase its footprint in India. The company may be upgrading its IC engine vehicles to battery-powered electric vehicles and plug-in hybrids.

 

Reasons to Purchase this report:

– The market estimate (ME) sheet in Excel format

– Report customization as per the client’s requirements

– 3 months of analyst support

1 INTRODUCTION

1.1 Study Deliverables

1.2 Study Assumptions

1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Market Drivers

4.3 Market Restraints

4.4 Industry Attractiveness – Porter’s Five Forces Analysis

4.4.1 Threat of New Entrants

4.4.2 Bargaining Power of Buyers/Consumers

4.4.3 Bargaining Power of Suppliers

4.4.4 Threat of Substitute Products

4.4.5 Intensity of Competitive Rivalry 

5 MARKET SEGMENTATION

5.1 Vehicle Type

5.1.1 Hatchback

5.1.2 Sedan

5.1.3 SUV

5.2 Drive Type

5.2.1 IC Engine

5.2.2 Electric

5.3 Geography

5.3.1 North America

5.3.1.1 US

5.3.1.2 Canada

5.3.1.3 Rest of North America

5.3.2 Europe

5.3.2.1 Germany

5.3.2.2 UK

5.3.2.3 France

5.3.2.4 Italy

5.3.2.5 Rest of Europe

5.3.3 Asia-Pacific

5.3.3.1 China

5.3.3.2 India

5.3.3.3 Japan

5.3.3.4 Rest of Asia-Pacific

5.3.4 South America

5.3.4.1 Brazil

5.3.4.2 Argentina

5.3.4.3 Rest of South America

5.3.5 Middle East & Africa

5.3.5.1 Saudi  Arabia

5.3.5.2 South Africa

5.3.5.3 Rest of Middle East & Africa

6 COMPETITIVE LANDSCAPE

6.1 Vendor Market Share

6.2 Mergers and Acquisitions

6.3 Company Profiles

6.3.1 Daimler AG

6.3.2 Bayerische Motoren Werke AG (BMW)

6.3.3 Volvo Group

6.3.4 Volkswagen Group

6.3.5 Tata Motor Limited

6.3.6 Tesla Inc.

6.3.7 General Motors Company

6.3.8 Ford Motor Company

6.3.9 Aston Martin Lagonda Ltd

6.3.10 Honda Motor Co.

6.3.11 Nissan

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

MARKET SEGMENTATION

 

Vehicle Type

Hatchback

Sedan

SUV

 

Drive Type

IC Engine

Electric

 

Geography

North America

US

Canada

Rest of North America

Europe

Germany

UK

France

Italy

Rest of Europe

Asia-Pacific

China

India

Japan

Rest of Asia-Pacific

South America

Brazil

Argentina

Rest of South America

Middle East & Africa

Saudi  Arabia

South Africa

Rest of Middle East & Africa

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India Used Car Market – Growth, Trends, and Forecast (2019 – 2024)

Automotive Published by: Mordor Intelligence Market: India
90 pages Published: 22-07-2019
  • Automotive
  • Mordor Intelligence
  • India
  • 90 pages
  • Published: 22-07-2019

Market Overview

 

The Indian used car market is expected to grow at a fast pace, registering a CAGR of more than 10%, during the forecast period, 2019-2024.

 

– As per the data released by SIAM, in 2018, approximately 4 million units of used cars were sold, when compared to 3.6 million units of new car sales.

– Factors, such as rise in income levels, increasing demand for luxury cars, shorter car ownership periods, and growing demand from two-wheeler owners for small and compact cars, are driving the growth of the market.

– Approximately 60% of the used car buyers are first-time buyers, followed by multi-car families (37%), and only 3% replaced their pre-owned car with another pre-owned cars.

 

Scope of the Report

 

The Indian used car market is segmented into organized and unorganized segments. However, C2C (customer to customer) channel is also used for the sales of pre-owned cars in the market.

 

Key Market Trends

 

Organized Segment is Projected to Grow at a Fast Pace

 

The organized segment of the Indian used car market is expected to grow at a fast pace during the forecast period. This segment accounted for approximately 20% of the Indian used car market.

 

– According to major players, such as Mahindra First Choice Wheels and OLX, the organized segment witnessed a growth rate of approximately 35%.

– As per the major players, brick-and-mortar dealers provide more peace of mind to the consumers, as they can easily walk up to the dealers in case of any assistance required. Additionally, these dealers provide quality products, services, and genuine parts.

– Though the brand showrooms provide only their own brand of vehicles, they follow high-quality standards for buying cars from first owners.

– Furthermore, consumers prefer safety, transparency, convenience, and negligible risk, while purchasing used cars, which in turn, provides the organized sector an upper edge, when compared to unorganized sector.

 

Growing Demand for Luxury Used Cars

 

The used car market is witnessing a boom in the country, with the demand for luxury cars continually increasing.

 

Until few years, owning a luxury car used to be a dream for numerous consumers, owing to financial hurdles, but this is gradually changing, as the consumers can easily buy used luxury vehicles. Heavy depreciation in luxury car prices has made these vehicles, a preferred choice in the used car market. As per OLX, used luxury vehicles priced over INR 15 lakh were the preferred choice among the consumers. According to OLX, over 55,000 luxury cars (priced above INR 15 lakh) were listed on OLX every month and supply for premium cars jumped by over four times in 2017. As per the report, titled OLX Auto Note, top-end sedans and luxury cars added up to 38% of the total four-wheeler listings on the platform.

 

Some major factors driving the growth of the used luxury cars are as follows – high rate of depreciation value of the luxury cars, fast growing base of young population, increasing disposable income of the consumers (along with rapid urbanization), and growing internet penetration in non-metros.

 

As per automobile dealers, the demand for used luxury cars has been growing at approximately 35% – 40% year-on-year basis, as owners of the luxury cars usually sell off their vehicles after a year or two years, as they desire for upgraded and better models. Additionally, apart from the reasons, majority buyers of these vehicles are from Tier-1 and Tier-2 cities.

 

With the rise in the consumers’ disposable incomes, they are not hesitant to spend on luxury goods and services. For these consumers, luxury is indulgence; as a result, they want themselves to be associated with top brands to make a statement.

 

Competitive Landscape

 

Some of the major players dominating the Indian used car market are CARS24, Maruti True Value, Mahindra First Choice, Hyundai H Promise, Ford Assured, and OLX.

 

Reasons to Purchase this report:

– The market estimate (ME) sheet in Excel format

– Report customization as per the client’s requirements

– 3 months of analyst support

1 INTRODUCTION

1.1 Study Deliverables

1.2 Study Assumptions

1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Introduction to Market Drivers and Restraints

4.3 Market Drivers

4.4 Market Restraints

4.5 Industry Attractiveness – Porter’s Five Forces Analysis

4.5.1 Threat of New Entrants

4.5.2 Bargaining Power of Buyers/Consumers

4.5.3 Bargaining Power of Suppliers

4.5.4 Threat of Substitute Products

4.5.5 Intensity of Competitive Rivalry 

5 MARKET SEGMENTATION

5.1 By Vehicle Type

5.1.1 Hatchbacks

5.1.2 Sedan

5.1.3 SUV

5.2 By Vendor Type

5.2.1 Organized

5.2.2 Unorganized

5.3 By Fuel Type

5.3.1 Petrol

5.3.2 Diesel

6 COMPETITIVE LANDSCAPE

6.1 Vendor Market Share

6.2 Mergers and Acquisitions

6.3 Company Profiles

6.3.1 CARS24

6.3.2 Maruti True Value

6.3.3 Mahindra First Choice Wheels

6.3.4 Hyundai H Promise

6.3.5 Honda Auto Terrace

6.3.6 Ford Assured

6.3.7 Toyota U Trust

6.3.8 Das Welt Auto

6.3.9 BMW Premium Selection

6.3.10 Audi Approved Plus

6.3.11 Mercedes-Benz Certified

6.3.12 Car Trade

6.3.13 OLX

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

MARKET SEGMENTATION

 

By Vehicle Type

Hatchbacks

Sedan

SUV

 

By Vendor Type

Organized

Unorganized

 

By Fuel Type

Petrol

Diesel

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India Luxury Car Market – Growth, Trends, and Forecast (2019 – 2024)

Automotive Published by: Mordor Intelligence Market: India
90 pages Published: 19-07-2019
  • Automotive
  • Mordor Intelligence
  • India
  • 90 pages
  • Published: 19-07-2019

Market Overview

 

The Indian luxury car market (henceforth, referred to as the market studied) is anticipated to register a CAGR of 23% during the forecast period (2019 – 2024).

 

– India is a huge market for vehicles and possesses very high potential for luxury cars. Whereas, the luxury car market penetration level in the country is low but leading luxury car manufacturers are betting on the market’s potential.

– At present, the penetration rate of luxury cars in the country is approximately 1.2%. Luxury cars sales in the country have increased at a rapid pace since 2012, with approximately 17% rise in sales in 2017, with Mercedes-Benz dominating the market studied. Mercedes sold 15,300 units in 2017 at a growth rate of 15.63%. Whereas, the BMW sold 9,800 units at a growth rate of 24.66% and Audi sold 7,876 units in 2017.

– As luxury car manufacturers are launching multiple models with various price ranges, along with user-friendly financing schemes, the demand for luxury cars is expected to rise in the country. Moreover, the demand for luxury SUVs has been growing rapidly in the country and is expected to continue during the forecast period, as they offer extra space and comfort. Major luxury car manufacturers, like Audi, BMW, and Mercedes are planning to launch new luxury models in the country at a competitive prices.

 

Scope of the Report

 

The India luxury car market covers all the latest R&D initiatives, investment done by the government, and vehicle manufacturers across the country. The scope of the report includes

 

Key Market Trends

 

Luxury SUVs are Witnessing Rapid Growth in the Country

 

In 2018, the market studied registered a slow growth rate, due to many obstacles, such as growing liquidity pressure, and change in GST rates also impacted the sales of luxury cars in the country. However, despite the slow growth rate, the sales of luxury SUVs have increased. For instance;

 

– BMW’s locally-assembled SUV range contributed over 50% to its overall sales, with strong demand for the X3. It also confirmed that the new X4 and X7 may be locally assembled at its Chennai plant.

– Mercedes also witnessed a significant demand and sales for its GLC-class SUV.

– Volvo had the biggest growth among the luxury car manufacturers. The company’s new line-up of SUVs is being more successful.

– JLR SUVs also witnessed significant growth in sales and accounted for over 50% of the total sales in the country.

Under the sedan segment, Mercedes and BMW have dominated the luxury sedan segment of the Indian Market. BMW Group registered 25% growth in sales in the country, by selling 9,379 units in 2017. In 2017, 5-series cars remained to be the most sold model under the sedan category. End-users’ preference of choosing the luxury brands is gradually improving, owing to the rise in disposable income and an increase in high net worth individuals. However, sales were slightly affected by the implementation and change in GST regulation in 2018.

 

Growing Demand for Pre-owned Luxury Vehicles

 

The pre-owned segment of the market studied is witnessing a boom in the country, with the demand for luxury cars continually increasing. Until few years, owning a luxury car used to be a dream for many consumers, owing to financial hurdles, but this is gradually changing, as the consumers can easily buy pre-owned luxury vehicles. Heavy depreciation in luxury car prices has made these vehicles, a preferred choice in the used car market. As per OLX, pre-owned luxury vehicles priced over INR 15 lakh were the preferred choice among the consumers.

 

According to OLX, 55,000 luxury cars (priced above INR 15 lakh) were listed on OLX every month, and supply for premium cars jumped by over four times in 2017.

 

As per automobile dealers, the demand for pre-owned luxury cars has been growing at approximately 35%-40% year-on-year basis, as owners of the luxury cars usually sell off their vehicles after a year or two years, as they desire for upgraded and better models.

 

Competitive Landscape

 

The Indian luxury car market is dominated by luxury cars manufacturers, like Mercedes-Benz, BMW, Volvo, Audi, and Jaguar. The top five luxury car manufacturers jointly sold 40,340 units in 2018, compared to 38,989 units sold in 2017, a growth of 3.4%. In 2018, the luxury car manufacturers faced a hard time, due to the financial market development, changing customer sentiment, and changes in tax policies. However, Mercedes-Benz India maintained its leadership position in the domestic luxury car market and sold a record 15,538 units in 2018, increased by 1.4%, when compared to 2017 (15,330 units). Tata Motors-owned Jaguar Land Rover witnessed a growth of 16% and sold 4,596 units in 2018. Volvo’s sales increased by 30% in 2018, when compared to 2017.   

 

Reasons to Purchase this report:

– The market estimate (ME) sheet in Excel format

– Report customization as per the client’s requirements

– 3 months of analyst support

1 INTRODUCTION

1.1 Study Deliverables

1.2 Study Assumptions

1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Market Drivers

4.3 Market Restraints

4.4 Industry Attractiveness – Porter’s Five Forces Analysis

4.4.1 Threat of New Entrants

4.4.2 Bargaining Power of Buyers/Consumers

4.4.3 Bargaining Power of Suppliers

4.4.4 Threat of Substitute Products

4.4.5 Intensity of Competitive Rivalry 

5 MARKET SEGMENTATION

5.1 Vehicle Type

5.1.1 Hatchback

5.1.2 Sedan

5.1.3 SUV

5.2 Drive Type

5.2.1 IC Engine

5.2.2 Electric

5.3 Price Type

5.3.1 INR 20 Lakh – 50 Lakh

5.3.2 INR 50 Lakh – 80 Lakh

5.3.3 Above INR 80 Lakh

5.4 Ownership Type

5.4.1 New Car

5.4.2 Pre-owned

6 COMPETITIVE LANDSCAPE

6.1 Vendor Market Share

6.2 Mergers and Acquisitions

6.3 Company Profiles

6.3.1 Daimler AG (Mercedes-Benz)

6.3.2 Bayerische Motoren Werke AG (BMW)

6.3.3 Volvo Group

6.3.4 Volkswagen Group

6.3.5 Tata Motor Limited

6.3.6 Fiat Chrysler Automobiles

6.3.7 Ford Motor Company

6.3.8 Toyota Motor Corporation

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

8 DISCLAIMER

MARKET SEGMENTATION

 

Vehicle Type

Hatchback

Sedan

SUV

 

Drive Type

IC Engine

Electric

 

Price Type

INR 20 Lakh – 50 Lakh

INR 50 Lakh – 80 Lakh

Above INR 80 Lakh

 

Ownership Type

New Car

Pre-owned

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High-power Charger for Electric Vehicle Market – Growth, Trends, and Forecast (2019 – 2024)

Automotive Published by: Mordor Intelligence Market: Global
124 pages Published: 19-07-2019
  • Automotive
  • Mordor Intelligence
  • Global
  • 124 pages
  • Published: 19-07-2019

Market Overview

 

The high-power charger for electric vehicles market is estimated to register a CAGR of over 30% during the forecast period, 2019-2024.

 

Electric vehicles have been gaining traction since 2012 with various governments, worldwide, encouraging automakers to manufacture electric vehicles. The demand for high-power chargers for electric vehicles is expected to increase in the years to come. Governments of various regions, such as Europe and Asia-Pacific, have plans to launch high-power electric buses. Moreover, electric vehicle charging infrastructure is gaining traction, owing to several factors, such as an increase in electric vehicle sales across potential and emerging markets, expanding EV charging stations, and demand from residential and commercial end users opting for fast charging trends. In addition, investments and acquisition activities of non-renewable energy giants that are diversifying their portfolio to meet the escalating vehicle electrification trend are likely to drive the growth of the market in the coming years.

The growth in terms of adoption and sales of electric vehicles, increasing stringent safety norms promoting the adoption of electric vehicles by the government, and the introduction of advanced technology (high-power technology) for electric vehicles manufactured with high-power capabilities are expected to lead to a growth in the high-power charger for electric vehicles market in the coming years. 

Technological advancements, such as the deployment of electronic payment method through RFID technology, controlled by a cloud-computing platform in fast charger manufacturing shall provide growth opportunities for the market in the years to come.

 

Scope of the Report

 

High-power charger for electric vehicles is essentially a DC fast charger that provides charging for vehicles in less than 30 minutes using fast-charging standards, like CHAdeMO, CCS, Supercharger, etc., by transferring power at a minimum rate of 22kWh. The high-power charger for electric vehicles market study includes various power output type ranging from 50 kW – 150 kW, 150 kW – 350 kW, and above 350 kW, vehicle types, such as plug-in hybrid electric vehicle (PHEV) and battery electric vehicle (BEV).

 

Key Market Trends

 

350 kW and above Power Type Segment projected to grow at a high pace

 

Currently, the 350 kW and above power type segment has the highest share out of all the segments. The announcement of numerous projects regarding the launch of ultra-fast charging stations and growing investment toward the development of the public charging infrastructure, worldwide, are the primary factors responsible for the faster growth rate for 350 kW chargers. In 2018, Ionity chose Tritium as its technology partner for the construction of 100 high-power charging sites across Germany, France, the United Kingdom, Norway, and Sweden. China is in plans to upgrade its GB/T standard, which is expected to overtake both the CCS and CHAdeMO standards, at 350 kW and 400 kW, respectively, with a maximum charge of 900 kW on the new GB/T standard. The electric vehicle (EV) – charging stations developed by Tritium shall have an average of up to six user units, each capable of delivering 350 kW of power for fast charging of modern EVs, thus, 150 km of driving range to an EV in just five minutes. Thus, the increasing focus on this segment shall lead to its estimated high CAGR.

 

Europe is expected to see the highest growth

 

In the high-power charger for electric vehicles market, the growth of the European region is expected to be more during the forecast period. Europe is witnessing an increase in the number of electric vehicles. The increase in the sales of electric vehicles is due to the rising presence of DC fast-charging stations along the highways, as well as on road sides. The DC fast-charging stations are led by the 125 Kw Tesla Supercharger network. Moreover, the increasing number of DC fast chargers in Germany shall lead to the growth of the market in the country. On the other hand, plug-in hybrid car and pure electric cars accounted for 59,911 registrations and 15,474 sales, respectively, in the United Kingdom, in 2018. The availability of a wide range of electric models is one of the key indicators for the positive growth of the EV market in the United Kingdom. France is one of the leading markets in terms of European electric vehicles sales, registering 52,597 sales of electric vehicles in 2018. Out of this, 39,158 registered as all-electric vehicles, while the rest accounted for plug-in hybrid electric vehicle sales, in 2018. Thus, such developments are likely to lead to drive the growth of the high-power charger for electric vehicles market in the European region.

 

Competitive Landscape

 

The high-power charger for electric vehicles market is fragmented, with various players existing in the market. ABB Ltd is the leading player in the market. Other players in the market include Ev-Box BV, IES Synergy, Garo AB, XCharge Inc., and Tesla Inc., which constitute over 30% of the market. Various initiatives done by companies have led them to strengthen their presence in the market. For example, in 2018, ABB Ltd announced that it installed the first DC fast charger, Terra 53 multi-standard DC charging station (50 KW), in Egypt. Moreover, in 2018, Tesla Motors Netherlands BV and Turkish manufacturer, Gersan Elektrik Ticaret ve Sanayi AS, signed a one-sided non-disclosure agreement to evaluate a possible commercial deal for the production and installation of electric vehicle charging stations.

 

Reasons to Purchase this report:

– The market estimate (ME) sheet in Excel format

– Report customization as per the client’s requirements

– 3 months of analyst support

1 INTRODUCTION

1.1 Study Deliverable

1.2 Study Assumptions

1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Market Drivers

4.3 Market Restraints

4.4 Porter’s Five Forces Analysis

4.4.1 Threat of New Entrants

4.4.2 Bargaining Power of Buyers/Consumers

4.4.3 Bargaining Power of Suppliers

4.4.4 Threat of Substitute Products

4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION

5.1 By Power Output Type

5.1.1 50 kW – Less than 150 kW

5.1.2 150 kW – 350 kW

5.1.3 350 kW and Above

5.2 Vehicle Type

5.2.1 Plug-in Hybrid Electric Vehicle (PHEV)

5.2.2 Battery Electric Vehicle (BEV)

5.3 Geography

5.3.1 North America

5.3.1.1 United States

5.3.1.2 Canada

5.3.2 Europe

5.3.2.1 Germany

5.3.2.2 United Kingdom

5.3.2.3 France

5.3.2.4 Netherlands

5.3.2.5 Rest of Europe

5.3.3 Asia-Pacific

5.3.3.1 China

5.3.3.2 Japan

5.3.3.3 India

5.3.3.4 Rest of Asia-Pacific

5.3.4 Rest of the World

5.3.4.1 South America

5.3.4.2 Middle East & Africa

6 COMPETITIVE LANDSCAPE

6.1 Vendor Market Share

6.2 Company Profiles

6.2.1 Royal Dutch Shell (Acquired NewMotion)

6.2.2 ABB

6.2.3 XCharge Inc.

6.2.4 Total (Acquired G2Mobility)

6.2.5 Fastned

6.2.6 IES Synergy

6.2.7 EVgo

6.2.8 EVBOX

6.2.9 Siemens

6.2.10 Allego BV

6.2.11 Phoenix Contact

6.2.12 Tesla Inc.

6.2.13 GARO

6.2.14 Ensto Group

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

MARKET SEGMENTATION


By Power Output Type

50 kW – Less than 150 kW

150 kW – 350 kW

350 kW and Above


Vehicle Type

Plug-in Hybrid Electric Vehicle (PHEV)

Battery Electric Vehicle (BEV)


Geography

North America

United States

Canada

Europe

Germany

United Kingdom

France

Netherlands

Rest of Europe

Asia-Pacific

China

Japan

India

Rest of Asia-Pacific

Rest of the World

South America

Middle East & Africa

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Tractors Market – Growth, Trends, and Forecast (2019 – 2024)

Automotive Published by: Mordor Intelligence Market: Global
125 pages Published: 12-07-2019
  • Automotive
  • Mordor Intelligence
  • Global
  • 125 pages
  • Published: 12-07-2019

Market Overview

 

The tractors market is expected to register a CAGR of 4.02%, during the forecast period, 2019-2024.

 

– The tractor segment, which covered a major share of 39% in the agricultural machinery market in 2018, is anticipated to remain a major machinery segment, during the forecast period, owing to the increasing demand for high horsepower tractors, ranging above 40 horsepower (HP) (i.e. utility tractors and row crop tractors), from the matured markets, such as Europe and North America.


– Increasing arable land area, along with the demand for agricultural mechanization in the matured and emerging markets, is driving the tractor market, globally.


– Four-wheel drive tractors being very less in number, in comparison to two-wheel drive tractors, is expected to see considerable growth over the forecast period, due to rising demand for efficient power utilization by eliminating the loss of torque due to low traction conditions.


– The rising demand for mechanization and the increased number of medium-scale farmers are the primary factors that have created a demand for tractor hiring in Ghana and other African countries, majorly in the south of the Sahara. This is expected to allow tractor owners to fully utilize their machines, while also providing services to farmers who cannot afford their own tractors. Small farmers in African countries, such as Nigeria, cannot afford tractors. However, an Uber-like program has been gradually expanding in the country, which makes it possible for farmers to get temporary access to tractors in demand.


– In order to increase productivity and to ensure sustainability in agricultural practices, autonomous tractors are being used.


– Case IH and New Holland introduced new autonomous tractors, recently. The new Case IH concept vehicle is a cab-less row-crop tractor, based on the existing Magnum tractor, which can operate autonomously on a wide range of field implements.


– Asia-Pacific is the largest market for tractors, with a share of nearly 50% of the global market. India and China are leading in the Asia-Pacific market, with market shares of 38% and 34%, respectively.


– Europe and America, being matured markets, have high growth potential for tractor sales under more than 100HP category. Germany and France stand second and third, in terms of market revenue positioning in 2018. Agricultural Machinery in Germany experienced a 9% growth in demand in 2017, owing to a rise in the sales of new tractors.

 

Scope of the Report

 

The tractors market include agricultural tractors and lawn mowers/lawn tractors. The tractors with the following horsepower have been included in the study – below 40 HP, 40 HP – 100 HP, and above 100 HP. The drive types considered in the study are two-wheel drive and four-wheel/all-wheel drive.

 

Key Market Trends

 

Tractors above the 100 HP Range are Projected to Grow at a Fast Pace

 

The global market for tractors above the 100 HP range was valued at USD 19.83 billion in 2018. The segment is expected to register a CAGR of 5.39%, during the forecast period.

 

– Tractors above the 100 HP range, generally referred to as farm tractors, which can handle almost all agricultural tasks, are suitable for commercial farming. However, they generally come with a huge price tag.


– They possess four to six cylinders and have huge engines of volume, varying from 2500-6000 cc. Hydraulics are fitted to these tractors for lifting and clearing purposes in the fields. Telematics is also being introduced for these tractors on a significant scale for auto-steer systems.


– As productivity in the agriculture field continues to rise, so does the need for more power in tractors. Larger engines mean large-sized tractors, which might not be practical for the existing infrastructure that customers have. Also, tier-4 emission standards are adding a significant amount of cost to the prices of large-sized tractors.


– An easy way to add value to offset these additional costs without reaching the customers is to add more horsepower to the tractors without increasing their size. A lot of technological developments are being researched into for realizing this idea and tractor launches are being made.


– For example, AGCO tweaked the existing models and increased their power by around 35 HP. These new tractors were launched in the Massey Ferguson 8600 and Challenger MT600C series. John Deere also achieved a similar power increase of around 15 HP from the earlier 330 HP in its 8000 and 9000 series tractors. In 2018, the Mahindra brand launched three new tractor series: 6000, 7000, and 9000, in North America, taking up the maximum available power to 120 HP.


– Emerging economies, such as China, India, and Brazil, with a high governmental thrust for agricultural development, are poised to become the greatest markets for these farm tractors.

 

Asia-Pacific Dominates the Global Market

 

Asia-Pacific dominated the tractors market, and the region is expected to witness the fastest growth rate during the forecast period.

 

In the Asia-Pacific region, India is the biggest market for tractors. The country accounted for 38.15% of the market in 2018, followed by China (with 34.06%). The country is also expected to witness the fastest growth during the forecast period. At 157.35 million hectares, India holds the second-largest agricultural land in the world. The agricultural sector, which is the backbone of the Indian economy, contributes majorly to the country’s GDP. As of February 2018, it was estimated that over 58% of rural Indians had depended on agriculture for their livelihood, with the sector contributing around 17-18% to the country’s GDP. The consistent growth of the agricultural sector is driving the agricultural machinery market in the country. 

 

Government initiatives, such as Tractor Subsidy Scheme, Kisan Credit Card, and National Mission on Agricultural Mechanization, have been continuously contributing to the growth of the agricultural machinery market in the country. 

 

Additionally, easy availability and access to low-cost credit may also drive the market toward growth, in turn, helping the farmers to obtain high yield, invest in assets, and earn more income.

 

Currently, Indian farmers are getting used to farm mechanization at a faster rate as compared to the past, and this is reflected on the increased sales of agricultural machinery. The Indian tractor industry has emerged as the largest in the world, accounting for about one-third of the total global tractor production, as per the Economic Survey 2017-2018. In India, tractors comprise 85% of organized mechanization, while only 15% comes from machinery, primarily because of the landholding size in India becoming much smaller. However, the market will see a change happening over the next three to five years, once the government contract farming policy is rolled out.

 

Competitive Landscape

 

Some of the major companies dominating the market studied are John Deere, CNH Industrial, AGCO Corp., Kubota Corp., CLASS, Mahindra & Mahindra, Kuhn Group, Yanmar Co. Ltd, and Escorts, and they captured 63% of the market in 2018.

 

In 2018, John Deere captured a major share of 17% in the agricultural tractor market, due to its increased tractor sales in South America, especially from Argentina, and a steady growth observed in the Asia-Pacific region. The other major players in the market are Tractors and Farm Equipment Limited (TAFE), Deutz-Fahr, Sonalika, Force Motors, Zetor, and others.

 

Reasons to Purchase this report:

– The market estimate (ME) sheet in Excel format
– Report customization as per the client’s requirements
– 3 months of analyst support

1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.4 Market Restraints
4.5 Industry Attractiveness – Porter’s Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Horsepower
5.1.1 Below 40 HP
5.1.2 40 HP – 100 HP
5.1.3 Above 100 HP
5.2 By Drive Type
5.2.1 Two-wheel Drive
5.2.2 Four-wheel Drive/All-wheel Drive
5.3 Geography
5.3.1 North America
5.3.1.1 US
5.3.1.2 Canada
5.3.1.3 Rest of North America
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 UK
5.3.2.3 France
5.3.2.4 Spain
5.3.2.5 Italy
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Rest of Asia-Pacific
5.3.4 Rest of the World
5.3.4.1 Brazil
5.3.4.2 South Africa
5.3.4.3 Other Countries

6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Mergers and Acquisitions
6.3 Company Profiles
6.3.1 Deere and Company
6.3.2 CNH Global NV (includes New Holland and Case IH)
6.3.3 AGCO Corporation (includes Massey Ferguson, Valtra, Fendt, and Challenger)
6.3.4 CLAAS KGaA mbH
6.3.5 Mahindra and Mahindra Corporation
6.3.6 Kubota Corporation
6.3.7 Escorts Group
6.3.8 Tractors and Farm Equipment Limited (TAFE)
6.3.9 Kuhn Group (Subsidiary of Bucher Industries)
6.3.10 Yanmar Company Limited
6.3.11 Deutz-Fahr

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

8 Disclaimer

MARKET SEGMENTATION

 

By Horsepower
Below 40 HP
40 HP – 100 HP
Above 100 HP

By Drive Type
Two-wheel Drive
Four-wheel Drive/All-wheel Drive

Geography
North America
US
Canada
Rest of North America
Europe
Germany
UK
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
Rest of the World
Brazil
South Africa
Other Countries

 

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