Top 5 Electric Vehicle Companies and Strategies in the Brazil Electric Vehicle Market

 Electric Vehicle is powered by electricity instead of traditional internal combustion engines, contributing to cleaner and more sustainable transportation. The market is loaded with electric cars, buses, trucks, and charging infrastructure, along with innovations in battery technology and sustainable mobility solutions. Let’s have a look at some of the top companies and their investments and innovation in Electric Vehicle Market.

• BYD's Multifaceted Sustainability: With innovation in electronics, autos, new energy, and rail transit, BYD commits to sustainability. Over 30 global parks and '0' emission solutions in Brazil show its environmental dedication. BYD ranks 4th in EV Market, with lithium iron phosphate focus aligning with Brazil's trends.
• Renault's Green Shift: Established since 1960s, Renault invests in 5 new EVs, including 2 in Brazil, showcasing its eco-friendly vision.

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• Nissan's Electric Future: Nissan's Millions of investments target Brazilian EV production, cementing its role in the nation's EV expansion.
• JAC Motors' Accessible EVs: JAC's affordable "iEV20" makes green mobility accessible in Brazil; local production and collaborations amplify its impact.
• According to ken Research, Brazil Electric Vehicle expected to reach US$ 2 Billion by 2028.

The Electric vehicle Market of Brazil is driving growth at an amazing level. Rising environmental awareness, government incentives, expanding charging infrastructure, lower operating costs, and technological advancements are driving Brazil's EV market growth.

These factors are promoting eco-friendly mobility, incentivizing adoption, and enhancing the practicality of electric vehicles in the country. This article provides an in-depth look at major electric vehicle manufacturing companies with their strategies, innovations and investments.

India's UPVC Door and Windows Market Set to Soar: Exploring Factors Driving the 2027 Boom!

 The growth projections for India's UPVC door and windows market are promising. Industry experts estimate that the market will experience a CAGR of around ~11.3% from 2022 to 2027.

Story Outline

• UPVC Demand in Evolving Real Estate: India's real estate evolution sees surging demand for UPVC doors and windows, driving market growth towards modernization by 2027.
• Government's Role in Housing Evolution: Government investments anticipate increased urban housing demand, driven by initiatives like the Urban Infrastructure Development Fund, reshaping the real estate landscape.
• Influential Market Factors: Rising personal income aligns with infrastructure growth, while climate resilience and affordable housing policies contribute to evolving market dynamics.
• PVC Resin's Pricing Influence: PVC resin pricing, swayed by demand, inventories, and oil costs, showcases sensitivity as historical trends indicate. Future trends remain molded by these factors.

India's real estate and construction sectors have been experiencing rapid development, with a noticeable shift towards modernization and efficiency. One significant aspect of this transformation is the increasing demand for UPVC (unplasticized polyvinyl chloride) doors and windows. This trend is driven by a variety of factors that are projected to lead to substantial growth in the UPVC door and windows market in India by the year 2027.

1. Government's Mega Investment Plans Set to Reshape the Market

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Anticipated government initiatives and investments in the real estate sector are predicted to generate a surge in demand for the construction of new housing units, particularly in urban centers such as Delhi and Bangalore.

The upcoming period envisions new building construction taking the lead in market dominance. This trend is predominantly attributed to the robust infrastructural advancements in the northern and central regions of the nation.

The initiation of the Urban Infrastructure Development Fund, backed by a substantial INR 10,000 Cr. investment in the Union Budget 2023-24, exemplifies a proactive stride towards holistic national advancement. 

2. Impactful Industry Factors: Income Rise, Climate Challenges & More…

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The rise in Personal disposable income is set to drive market demand, fueled by infrastructure development. Demand for door and window systems are expected to increase due to its ability to withstand extreme climatic conditions.

High emphasis by the Government on the housing scheme presents strong opportunity in the urban affordable housing segment. Increased consumption of PVC resin by the US and other countries will lead to price escalation if production is limited.

3. PVC Resin Price Faces Ripple Effects

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The price of PVC resin is affected and expected to rise in future owing to various factors such as increase in demand, inventories, and oil prices.

The cost of PVC resin is subject to periodic fluctuations. Notably, it surged significantly from INR 64.0 per Kg in 2015 to INR 111.0 per Kg in 2022. This increase is attributed to heightened end-user demand, elevated oil prices, and reduced domestic supply.

The escalation in PVC resin prices stems from heightened demand for end-use products, oil price hikes, and decreased domestic supply. Additionally, the forthcoming years will witness PVC resin pricing influenced by end-use product availability and various other factors.

Top 5 players in US Biosimilar Market

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STORY OUTLINE

• Pfizer: Excelling in the line of Biosimilar drugs with an experience of more than 10 years with presence in over 180 countries.
• Amgen: Making pharmaceutical products with an experience of over 40 years and presence in over 100 countries.
• Viartis: Presence in over 165 countries, and making Biosimilar drugs in over 75 markets, this pharmaceutical company is another leading contributor of US Biosimilar market.
• Coherus Biosciences: Increasing patient access to cost effective medicines with a Biosimilar drugs experience of 13 years.
• Biogen: serving humanity through science with a experiences of more than 40 years in the field of biologics.
• According to Ken Research, the US Biosimilar market is anticipated to grow at a CAGR of ~40% in the next five years which currently has a market size of ~USD 9.4 Bn.

The US Biosimilar market is rapidly growing and will be witnessing a significant growth in the next five years.

There are various reasons behind the rapid growth of US Biosimilar market. Some of the major reasons behind the growth of US Biosimilar market include the cost effective nature of Biosimilar drugs, rising geriatric population, rising prevalence of chronic diseases, and growing partnerships between companies to develop Biosimilar drugs.

Various companies and players are contributing to their best efforts in the growth of the US Biosimilar market.

This article aims to put light on the contributions done by the major players towards the growth of the US Biosimilar market.

1.Pfizer

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Pfizer is a leading American pharmaceutical company which is operating in the field of generics or original drugs for more than 30 years. But did you know that this pharma not only manufactures biologics but also biosimilar drugs?

Pfizer has been in the business of biosimilar drugs for more than 10 years and have been quite successful as well. With more than 83,000 employees and presence in over 180 countries, this leading pharmaceutical company made almost USD 2 Bn. revenue only from its Biosimilar drugs sale in 2021.

Recently, this pharmaceutical company also collaborated with Samsung in two deals to produce various biosimilar drugs in South Korea. The deal size between these two companies happens to be approximately USD 900 Bn.

The major Biosimilar drugs of this pharmaceutical giant are primarily

• ZIRABEV (a Biosimilar of Avastin)
• TRAZIMERA (a Biosimilar of Herceptin)
• RUXIENCE (a Biosimilar of Rituxan)
• RITACRIT (a Biosimilar of Epogen)
• NVYEPRIA (a Biosimilar of Neulasta)
• NIVESTYM (a Biosimilar of Neupogen)
• FILGRASTIM (a Biosimilar of Neupogen).

2.Amgen

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Amgen is another leading American pharmaceutical company which not only makes Biologics or generic drugs but also Biosimilar drugs. This pharmaceutical company has more than 40 years of experience when it comes to pharmaceutical line.

With over 25000 employees and presence in over 100 countries, this pharmaceutical company earned about USD 2 Bn. from their three biosimilar drugs which are reportedly MVASI, KANJITNTI, and AMJEVITA.

This pharma giant has also invested about USD 2 Bn. in the development of Biosimilar drugs.

This pharmaceutical company has made Biosimilar drugs primarily in 4 fields which are General Medicine, Oncology, and Hematology along with, Inflammation.

• EPOTEIN ALFA
• AMJEVITA
• AVSOLA
• KANJINTI
• MVASI
• RIABNI

are the various Biosimilar drugs of Amgen. And, STELARA, EYLEA, SOLIRIS are in their pipeline.

Recently Amgen revealed their Biosimilar report’s 8 version. It revealed a major information which said that the pharmaceutical company saved about USD 10 Bn. through their Biosimilar drugs in the past five years.

3.Viartis

 

Headquartered in Canonsburg, Pennsylvania, this American pharmaceutical company was founded only in 2020 yet they have achieved massive success in the pharmaceutical products with their revenue being USD 16 ~Bn. in 2022.

With presence in 165 countries and with over 45,000 employees worldwide, this pharmaceutical company makes pharmaceutical products in 10 areas which primarily are Cardiovascular, Dermatology, ophthalmology, Oncology, Gastroenterology, Women’s health, Infectious diseases, Diabetes & Metabolism, Immunology, CNS & Anesthesiology, Respiratory diseases and allergy.

Speaking of their first Biosimilar products, their first ever Biosimilar drug was launched in 2014. They have a variety of Biosimilar drugs which are primarily

• TRASTUZUMAB
• INSULIN ASPART
• PEGFILGRASTIM
• INSULIN GLARGINE-YFGN
• ADALIMUMAB
• BEVACIZUMAB

Their Biosimilar drug Insulin Glargine which is known as SEMGLEE was the first ever interchangeable Biosimilar drug in the United States which was FDA approved.

Their PEGFILGRASTIM also was the first ever FDA approved drug in the United States. They have launched their Biosimilar drugs in over 75 markets worldwide.

4.Coherus Biosciences:

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Headquartered in Redwood city, California this American pharmaceutical company earned a revenue of almost USD 211 Mn. In 2022.

With presence in over 55 countries and 300+ employees worldwide, this pharmaceutical company makes products in various areas such as solid tumors, non-small lung cancers, nasopharyngeal carcinoma, small cell lung cancer and hepatocellular carcinoma.

Speaking of their Biosimilar drugs, this pharma has been in the field of creating Biosimilar drugs since 2010 which has given them almost 13 years of experience.

This pharmaceutical company also disclosed that it plans to spend at least USD 1 Tn. on medicines worldwide, out of which at least 40% will be spent on Biosimilar drugs.

Their three major Biosimilar drugs which are also FDA approved include UDENCYA, YUSIMRY, and CIMERLI.

Udencya is a Biosimilar drug of Pegfilgrastim, Yusimry is a Biosimilar drug of Ranibizumab, and Cimerli is a Biosimilar drug of Adalimumab.

5.Biogen

Headquartered in Cambridge, Massachusetts, this American pharmaceutical company earned a revenue of around USD 10 Bn. in 2022.

This company happens to have an experience of more than 40 years when it comes to making pharmaceutical products.

With presence in over 80 countries and more than 9000 employees worldwide, this pharmaceutical company primarily deals in Neurology, Specialized Immunology, Neuropsychiatry, Ophthalmology, and Rare Diseases.

• ADUCANUMAB
• LECANEMAB
• TOFERSEN
• ZURANOLONE
• LITIFILIMAB
• BENAPALI
• FLIXABI
• IMRALDI

are some of their Biosimilar drugs.

With their Biosimilar drugs, more than 250,000 people have gone on Anti-Tumor Necrosis Factor therapy.

Recently, this pharmaceutical company also made an agreement with Bio-Thera solutions to develop a Biosimilar drug for the treatment of Rheumatoid Arthritis.

Unlocking Success: The Transformative Landscape of India's Part-Time Professional MBA Market

 The demand for part-time professional MBA programs in India had been consistently rising due to the aspirations of working professionals to enhance their skills, advance in their careers, and increase their earning potential while continuing to work.

Story Outline

• Rising Stars: Institutions like ISB and Master's Union are spearheading the transformation of part-time MBA education, catering to professionals' aspirations while balancing their careers.
• Balancing Act: Striking a harmonious blend of academic rigor and flexible learning remains a challenge. Innovation in program design and delivery is essential to meet diverse needs.
• Industry-Aligned Education: Part-time MBA programs are shaping a generation of agile business leaders, equipped with practical skills and adaptable mindsets, ready to thrive in dynamic industries.
• A Future Forward: As the business landscape evolves, part-time Professional MBA programs are set to become even more relevant, bridging the gap between academic learning and industry demands.

In the fast-paced and competitive business landscape of India, professionals are constantly seeking ways to enhance their skills, expand their horizons, and fast-track their careers. This quest for professional growth has led to the rapid evolution of the part-time Professional MBA market in India. As more working individuals recognize the value of further education while maintaining their careers, institutions have risen to the challenge, offering innovative and flexible part-time MBA programs tailored to the needs of this dynamic demographic.

1. The Titans: Institutions Leading the Charge

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• Prominent institutions such as the Indian School of Business (ISB) and the Master's Union School of Business have emerged as torchbearers in this space.
• ISB's PGP PRO program, with its hybrid learning model, exemplifies the fusion of online modules and immersive experiences, allowing students to access high-quality education while managing their professional responsibilities.
• Similarly, Master's Union's PGP Rise stands out for its intensive mentorship and hands-on approach, fostering a strong bond between industry veterans and ambitious learners.

2. Challenges and Opportunities

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• While the growth of the part-time Professional MBA market in India is promising, challenges persist. Striking the right balance between academic rigor and the flexibility demanded by working professionals remains a delicate endeavor.
• Institutions must continually innovate their program structures and delivery methods to cater to these diverse needs.
• Additionally, ensuring consistent placement opportunities and industry connections for part-time students is crucial to maximizing the return on investment for participants.

3. Looking Ahead: A Bright Future

• As industries continue to evolve and demand specialized skill sets, the relevance of part-time Professional MBA programs is poised to increase. These programs will play an integral role in nurturing the next generation of business leaders equipped with a blend of theoretical knowledge and practical skills.
• The future holds exciting possibilities as institutions further refine their offerings, bridging the gap between academia and industry needs.
• The growth of the part-time Professional MBA market not only reflects the aspirations of individual professionals but also contributes to the overall progress of India's business landscape.

In conclusion, the part-time Professional MBA in India has evolved into a dynamic and transformative force. With institutions like ISB and Master's Union leading the way, professionals are empowered to pursue their educational dreams without compromising their career trajectories. As the market continues to flourish, it promises to shape a generation of business professionals who are adaptable, forward-thinking, and equipped to drive innovation in the corporate world.

Corporate Training Industry in Vietnam: Growth, Trends, and Challenges

 The Corporate Training in Vietnam has emerged as a pivotal player in enhancing workforce skills and driving organizational success. With data from the Ministry of Labor, Invalids and Social Affairs revealing a revenue of approximately $1.5 Bn in 2022 and employing around 50,000 professionals, this industry contributes about 0.2% to Vietnam's GDP.

Storyline

1. Vietnam's Training Market Surge: $1.5B revenue in 2022, 0.2% GDP contribution, driven by economic growth and education focus.
2. Robust Growth: 10% rise in 2022; tech adoption and soft skills training fuel momentum.
3. Challenges & Solutions: Talent scarcity, quality control hurdles; innovation and collaboration are key remedies.
4. Promising Trajectory: Future trends: digital solutions, AI, VR integration; industry vital for workforce and economic growth.
5. As per Ken Research, the Corporate Training Industry in Vietnam serves as a catalyst for workforce improvement and organizational excellence.

1. Contributing Factors to Growth and Success

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The industry's upward journey can be because of multiple factors. The country's economic growth and expansion of businesses have increased the demand for skilled employees, thus intensifying the need for training and development services. Moreover, the government's commitment to enhancing education and training quality through initiatives like the National Education Development Strategy 2021-2030 has facilitated growth.

2. Trends Shaping the Landscape

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Embracing technology is an important trend. E-learning platforms and digital solutions are becoming the nucleus, providing accessible and convenient training services. Additionally, soft skills training, addressing areas like leadership and communication, is in high demand to facilitate collaboration in diverse workplaces.

However, challenges persist. A shortage of skilled professionals remains a roadblock. The industry's growth depends on attracting and retaining top talent. Moreover, standardization and quality control require attention to ensure effective and consistent training services.

3. Promising Future and Adaptation to Market Trends

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The landscape for the Corporate Training Industry in Vietnam is promising. The government's commitment to education quality, paired with technology adoption and focus on soft skills training, creates a stable environment for growth. Future success depends on addressing the professional scarcity and establishing robust quality standards.

Innovative solutions are important. As businesses dive into digital realms, demand for real-time feedback and digital training solutions will rise. Adoption of emerging technologies like AI and virtual reality will further shape the industry, enabling specifically designed and effective training experiences.

                                                          Conclusion

As per Ken Research, the Corporate Training Industry in Vietnam serves as a catalyst for workforce improvement and organizational excellence. Its progress is driven by economic expansion, governmental initiatives, and technological integration. While challenges like talent shortage and quality control are there, the industry's promising growth is evident. As market trends evolve, collaboration across stakeholders is essential to bridge gaps and enhance financial inclusion. By fostering innovation and customizing training solutions, the industry can continue playing a pivotal role in driving Vietnam's workforce and economy forward.

Middle East Metal Working Market expected to reach $5 billion by 2028

 As the Middle Eastern countries develop their manufacturing & automotive units, there’s a surge within the metalworking industry of the region.

Amidst the transformative winds of 2023, the Middle East is in the midst of an infrastructure renaissance. Landmarks like Dubai's climate-controlled URB bridge and the UAE National Railway Network stand as testaments to this era of advancement. As the region invests heavily in construction and transportation, the demand for metal fabrication and processing intensifies, fueling the growth of the metalworking industry.

Story Outline

• In 2023, the Middle East's vigorous infrastructural investments, exemplified by projects like Dubai's URB bridge and the UAE National Railway Network, underscore the region's commitment to modernization.
• Middle Eastern governments are steering their countries toward industrialization and economic growth. With policies like Dubai Industrial Strategy 2030, initiatives like the UAE Programme and transformative events like Street Fab, all these propel digital transformation and local innovation in the metalworking sector.
• The shift from oil dependency to manufacturing is reshaping the Middle East economy. Countries like Saudi Arabia are forging agreements with global partners to expand their manufacturing capabilities, resulting in a surge in metalworking needs to support various industries, including automotive and electronics.
• According to Ken Research, the Middle East Metal Working Market is projected to reach $5 billion till 2028, owing to the increase in the construction & manufacturing industry which demands metal working functions like machining, welding, casting, forging which are useful to transform raw material to finished products.

1. Middle East’s Infrastructural Investment Fuel Metal Industry Boom

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The year 2023 is seeing various kinds of infrastructural investment made across the Middle East areas, like the URB bridge in Dubai, which is a climate-controlled year-round structure designed to promote cycling & walking as a primary mode of transport.  The UAE National Railway Network was set up at the main center for Control & Maintenance in Al Fayah region of Abu Dhabi.

Countries in these regions are heavily investing in construction of new buildings & means of transportation. It shows how these projects require significant amount of metal fabrication & processing, driving demand for metalworking products & services.

2. Government’s Led Industrial Boom: Dubai’s Vision & High-Tech Innovations

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Governments in the Middle East countries are known for investing towards initiatives involving industrialization, economic growth & job creation. Countries like Dubai have been scaling up their efforts to become an industrial hub, which is in line with the Dubai Industrial Strategy 2030. This policy aims to improve the industrial growth of the region & to promote research & development.

With policies which aim to speed up the digital transformation of the industrial sector, trade events like Street Fab have emerged as a game changer for the metal working industry in UAE & the Middle East.

Moreover, government initiatives like UAE Programme aims to develop 1,000 technological projects are launched to promote innovation, research & development enhance local supply chain.

According to Ken Research, the Middle East Metal Working Market is projected to reach $5 billion till 2028, owing to the increase in the construction & manufacturing industry which demands metal working functions like machining, welding, casting, forging which are useful to transform raw material to finished products.

3. Forging Skilled Futures: MEITI & Mont Royal Elevate Middle East Metalworking

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As the demand for metalworking industry starts increasing, inevitably there is a need to have skilled employees who can perform the technicalities of the given job. In Middle East, there are institutes like the Middle East Industrial Training Institute (MEITI), Mont Royal Elevate in Abu Dhabi, are renowned for providing internationally accredited training provider of technical, management & skills training courses.

Investment in training & skill development programs can help in meeting on-the-job demands & ensure a capable workforce.

 4. From Oil to Innovation: Middle East's Industrial Renaissance Fuels Metalworking Surge

As the Middle Eastern countries have stopped their dependence on oil industry, they’re gradually increasing their manufacturing capabilities. In January 2022, Saudi Aramco announced 50 preliminary agreements with local & international companies including Honeywell, Larsen & Turbo & Sutherland Global Services, as a part of In-Kingdom Total Value Add (IKTVA) drive to increase the volume of goods and services produced in Saudi Arabia.

Metalworking forms a crucial part of the manufacturing industry, including automotive, electronics etc.

5. Middle East Automobile Boom Drives Surge in Metalworking Demand

Demand for new vehicles in the Middle East & Gulf regions (excluding Iran) has increased by 22.3% in December 2022. In 2021, Saudi Arabia led the region when it comes to increasing sales in terms of passenger & commercial car sales. Turkey & Iran are two countries which have been dominating in automotive productions & they focused on producing passenger cars followed by light commercial vehicles.

More cars produced means increasing demand for engine parts, hinges, body panels etc. which demands metalworking products.

Conclusion

In the heart of the Middle East's rapid evolution, the convergence of infrastructural investments, governmental initiatives, and shifting economic landscapes marks the onset for a resounding metal industry boom.

As nations diversify their economies, embrace innovation, and invest in skilled training, the demand for metalworking products and services will certainly reach new heights.

This transformative journey from oil reliance to manufacturing prowess underscores the region's determination to shape its destiny through industrial growth and innovation.

US Automotive Interior Market expected to grow with CAGR of ~5% by 2028: Ken Research

 Every transportation needs easy and luxurious interiors. US Automotive interior is propelling growth in recent due to rising awareness in car owners about better features in their vehicles for better handling and easy features. Constant upgradation in being done in cars and other transportations with innovations. 

Story Outline

• The growth is recorded at the CAGR ~5% during the 2018-2028 forecast years.
• Driving factors like rising demand is responsible for the growth in US Automotive interior market.
• Innovative ventures happening in US in the interior designing field of cars and other transportation.
• Trending news coming from various player in US automotive interior market is responsible for propelling growth.

1. Growth of US Automotive interior market is getting higher with ~5% CAGR

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US Automotive interior market is growing by the CAGR of ~5% during the period of 2018-2028. The interior is nowadays the most important part of the car as it includes components such as headliners, cockpit modules, door panels, and automotive seats, is designed to provide comfort, grip, and sound insulation for the vehicle cabin.

In addition, the inside of a car is the primary aspect that determines a buyer's sense of a vehicle's quality. In the past, automotive interiors played a secondary role in the market, but now they are one of the most significant factors for any car buyer to consider.

Due to rising customer expectations and intense competition, many automakers are including infotainment systems in even the most affordable vehicles. In turn, this may boost the infotainment market, and as a result, the subcategory of infotainment systems is anticipated to grow the quickest.

2. Which are the driving factors for the growth of US Automotive interior market?

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The major driving factors of the US Automotive interior market are the advent of new materials and cutting-edge technologies and the Growing Penetration of Larger Displays. Also increasing consumer safety concerns, rising technological advancements and a surge in demand for luxurious vehicles are expected to boost the market growth.

Government support for lightweight and safe vehicles will likely surge the market growth. Constant innovations in the interior designing field is also surging the growth of the market. To address the demand for fuel-efficient and lightweight systems, manufacturers are designing lightweight materials for use in automobile interiors, driving the market for automotive interiors.

3. Innovative ventures by US Automotive interior market which propel their growth

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The International Automotive Components Group North America Inc. (IAC) announced in October 2020 its intention to invest more than USD 55.9 million in expansion projects at two Alabama locations.

The plant may create door panels and overhead systems for original equipment manufacturers. General Motors revealed in 2019 its intention to offer a new in-car technology for the following vehicles.

In 2021, the business intended to include Google's Voice Assistant, Navigation, and App Ecosystem into GM's infotainment systems. The rising number of electric automobiles in the United States is driving domestic demand for interior items.

The recent innovation in automotive market is the use of bio-based plastics in manufacturing which ensure lightweight reduction and strong performance.

Major car manufacturers like Major acquisitions are taking place in FAURECIA with the complete acquisition of SAS and in Asahi Kasei, which has completed acquisition with Sage Automotive interiors.

4. Competitive landscape of US automotive interior market

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Major companies like Adient PLC, Lear Corporation, Visteon Corporation, Faurecia, Grammer AG and others are key players in US Automotive interior market.

Major trending news, which accelerated in US automotive market. Like in 2022, Toyota launched its new segment Tundra TRD truck, powered by the 3.5-liter V6 twin-turbo hybrid engine.

The pickup truck's interior seems promising from a consumer's point of view. It is equipped with the in-dash infotainment system, which changes brightness randomly without a change in natural lighting. In 2022, Rivian launched its new electric pickup truck considering all the requirements of critical consumers.

This newly launched pickup truck is equipped with decorated ash wood on the dash infotainment system board. In 2022, Jeep also proposed that Jeep Grand Cherokee 2022 model might have two rear seat infotainment screens with a screen in the dashboard for the front-seat passenger to interact with the driver's navigation system.

In addition, Faurecia announced a USD 147 million investment in developing a new facility in Nuevo Leon. Faurecia and Veolia signed an agreement to develop innovative compounds for automotive interior modules jointly.

US Parking Management Projected To Reach $9 Billion By 2028

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United States has seen a gradual increase in its population in the past few years. This has also led to large number of vehicles & increased amount of parking spaces & the need for adequate parking management strategies.

There is certainly a need to have adequate parking spaces, since the number of vehicles is increasing in the United States, so that large number of vehicles can be accommodated in a given space. Parking management helps in overall utilization of available parking spaces, enhance traffic flow & reduce congestion.

Story Outline

• Rising population & urbanization in United States have led to an increasing number of vehicles on road, resulting in higher demands for parking management services.
• Smart parking management systems like San Francisco’s SFpark program & various tech start-ups have been successful in reducing congestion & improving parking experiences. These systems use sensors & AI-enabled platforms to use parking spaces.
• Despite the overabundance of parking spots in the US, due to minimum parking requirements policies, the growing number of registered vehicles & revival of ride-sharing platforms like Uber, emphasize the need for developing parking solutions to meet the existing demands.
• According to Ken Research, the US Parking Management market is expected to reach $9 billion in 2028, due to increasing population & different kinds of vehicles increasing in number, which demand different kinds of parking services for every parker.

1.Rising Population & Urbanization: Implications for Parking Management Services

Population across United States (2022)

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The population of United States has recorded a growth of 84.5 per cent between 1960 to 2022. In the recent past, the population figure went from 336 million in 2021 to 338 million in 2022, which is a 0.38% increase from 2021. Moreover around 83% of the population is staying in the larger cities & the trend of urbanization is growing at the rate of 0.6 percent.

In an increasing trend of population growth & urbanization, there will be increased number of vehicles on roads, which demand more parking management services.

2.San Francisco’s Pioneers Success & Tech Start-ups Thrive

SFPark mobile application, 2022

In the United States, San Francisco has been the pioneers of smart parking. They launched SFpark, a program that uses sensor to detect available parking spaces in real time. The information is then transmitted to a centralized data base, which can be accessed via mobile apps & electronic signs. This program has been successful in reducing congestion & improving the overall parking experience.

Apart from this, United States has more than 100 tech start-ups which cater to smart parking management like Metropolis in Los Angeles, which is an AI-enabled platform which provides tech related solutions for operations management, payments solutions, marketing, customer centric applications, analytics etc.

According to Ken Research, the US Parking Management market is expected to reach $9 billion in 2028, due to increasing population & different kinds of vehicles increasing in number, which demand different kinds of parking services for every parker.

3.Overabundance of Parking Spots in US: Implementing Smart Parking Management Systems

 No. of parking spots in Ohio, US (2023)

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Currently, the United States is facing a problem of too many parking spots. The country has around 2 billion parking spots. US has a minimum parking requirements policy wherein they are supposed to create parking spaces for every mall, office, stores, movie theatre, restaurants & every building. This policy requires parking spots for every building.

In this scenario, parking management systems can enable drivers to reserve parking spaces in advance, especially for high-demand & special events. This ensures that parking is utilized efficiently & to reduce overcrowding.

4.Growing Demand for Parking Solutions as Vehicle Numbers Reach Record Highs

Number of registered vehicles in US (2012-22)

In September 2022, there were 290.8 million vehicles in US. It included cars, SUV, vans & other kinds of heavy-duty vehicles. Between 2021 & 2022, the number of registered vehicles has increased by 0.45%

As the number of vehicles are gradually increasing in the country, there is a fleeting need for effective parking management solutions.

5.Revival of Ride Sharing Services post COVID: Impact on Parking Management

Rideshare of US Citizens using Uber & Lyft (2023)

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After experiencing a brief slump after COVID, US saw the ride-sharing services recover. Uber & Lyft who showed signs of recovery from May 2020. Uber’s sales exceeded their pre-pandemic levels & on year-to-year, they saw an 8 per cent increase in their rideshare in June 2023.

As ride sharing services show an increasing trend among the US citizens, this will impact parking demands & require better management & allocation of parking spaces.

Conclusion

Rising population & urbanization in the US call for improved parking management services. San Francisco’s success with smart parking & tech start-ups’ innovation suggest better solutions. Implementing smart system is crucial for addressing the overabundance of parking spots & efficiently accommodate the growing demands, influenced by surge in vehicle numbers & revival of ride-sharing services.

America’s Bio-Stimulants Market Is Gears Up For 13% Market CAGR Boost With Strategic Factors

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The US Bio-stimulants market has witnessed tremendous growth in the last few years and is all set to grow significantly between 2022 and 2029. The primary growth drivers of the market are increasing demand for sustainable agriculture, an upsurge in the demand for seaweed as a raw material, high agriculture production worldwide, and others.

STORY OUTLINE

• The demand for bio-stimulants in the market decreased by 22% due to the disruption of the supply chain in 2020.
• The country has a total consumption volume of 5.5 thousand metric tons of bio-stimulates which is one of the highest in the country.
• 84% of American adults believe that environmental sustainability is the need of the hour for agriculturists.

According to Ken Research, The Bio-stimulants market is growing at a significant growth rate in America as its helping agriculturalists match the growing demand for natural ingredients from consumers. The market is highly supported by the administration and has proven very beneficial for the farmers. The US Bio-stimulates market is the second biggest market North American bio-stimulates industry with a market share of 49%. The growth of Bio-stimulants is attracting huge investments in the agriculture sector.

1. Influence of COVID-19 on the US Bio-stimulants Market

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• The pandemic affected adversely the overall growth of the US Bio-stimulants market as the industry faced a shutdown of manufacturing facilities and restrictions on transportation and logistics. Additionally, the demand for bio-stimulants in the market decreased by 22% due to the disruption of the supply chain in 2020.
• During the Pandemic demand for healthy and organic food items grew significantly as the consumer’s interest shifted towards non-chemical food items. This sudden shift assisted the US bio-stimulants market to grow by 34% post-pandemic in 2021.
• The role of government was also crucial during the pandemic for the US Bio stimulants market. The government promoted the uses and consumption of Bio-Stimulants by different means. The government supported the industry both financially and technically by providing them with the necessary

2. Current Scenario of the US Bio-stimulants Market

• The US Bio-stimulants Market is dominating the global Bio-stimulants market and is estimated to grow at a CAGR of 13% between 2022-2029.
• Among all the crop types bio-stimulants have the most impact on row crops. Row crops incorporate crops such as corn, rice, wheat, barley, and soybean leading the bio-stimulants market by covering 37% of the market.
• On the contrary, horticultural crops are the fastest-growing crop type in the bio-stimulants market. The country has a total consumption volume of 5.5 thousand metric tons of bio-stimulates which is one of the highest in the world.

3. Growth drivers of the US Bio-stimulants Market

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The market is influenced by various factors affecting the market. Some of the major growth drivers of the market are sustainable agriculture, an upsurge in the demand for seaweed as raw material, high agriculture production worldwide, and others

• Sustainable agriculture is one of the major reasons behind the growing demand for organic and chemical-free food among customers. 84% of American adults believe that environmental sustainability is the need of the hour for agriculturists. Bio-stimulants help farmers approach the sustainable way as they help in high crop productivity and soil fertility maintenance.
• Growing demand for seaweeds in farming to enhance the crop’s productivity to improve the quality of the soil is another variable influencing the market for bio-stimulants. Bio-stimulants consist of different seaweed extracts as it is used in modern agriculture for getting better results from soils and plants.
• Seaweed farming is the fastest-growing aquaculture in America. Farmers in Alaska alone grew about 11000 pounds of sugar, ribbon, and bull kelp in the year 2019.

4. Major Players of the US Bio-stimulants Market

Some of the major players in the US Bio-stimulants market are BioLine Corporation, Corteva Agriscience, Hello Nature USA Inc, Humic Growth Solutions, Valagro USA, BASF SE, UPL, Gowan Group, The Mosaic Company, ILSA S.p.A, Hafia Group, Rallis India Limited, UPL Australia, and FMC Corporation.

• Recently, Plant Response Inc., an MNC fertilizer manufacturer, was acquired by The Mosaic Company, one of the market leaders. This acquisition aided the global business expansion of the Mosaic corporation. Additionally, this acquisition gave the business the ability to offer consumers sustainable products and solutions.
• About GOActiv Technology, UPL Australia launched a new set of stimulant arrangements in June 2021. The method is entirely focused on encouraging natural products, vegetables, plants, and tree crops to respond to certain physiological or abiotic stimuli. This method is entirely dependent on an ocean growth concentration that is 100 per cent pure.

Conclusion

In conclusion, the US bio-stimulants market has illustrated exceptional development prospects, balanced for a significant CAGR of 13% between 2022 and 2029. This climb is moved by numerous components including an increased demand for sustainable agriculture, the surge in seaweed utilization as a crucial raw material, strong global agricultural production, and more. The COVID-19 widespread at first posed challenges through disturbances to supply chains, however, the market bounced back with a 34% development in 2021 due to increased requests for natural food. The back from the government and the market's significant part in advancing eco-friendly farming practices played a critical part in this resurgence. With a dominating impact on push crops and a burgeoning centre on horticultural crops, the US bio-stimulants showcase remains a significant player in forming the agricultural landscape.

The US Carbon Black Market is anticipated to reach ~USD 3 Bn. market by 2028

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The United States Carbon Black Market which currently has a market size of ~USD 2.7 Bn. is projected to grow at a CAGR of 2.5% during the time period 2022-2028 as per the findings of Ken Research.

STORY OUTLINE

1. Rising sales of automotive industry accelerate the US Carbon Black market as Carbon Black is widely used in automotive vehicles.
2. Urbanization also pump the US Carbon Black market as the high prevalence of Urbanization leads to transportation and construction processes which use Carbon Black.
3. Industrial growth also make use of Carbon Black and related products thereby contributing to the growth of the US Carbon Black market.
4. Increase in demands of Rubber goods is also a major factor responsible for the growth of US Carbon Black market as most of the rubber goods have Carbon Black.

A fast growing industry, increasing automotive sales, industrial growth and increase in urbanization rates, along with rise in the demand for rubber goods are the various reasons contributing to the growth of US Carbon Black Market. As per Ken Research, this market is expected to become a ~USD 3 Bn. industry by 2028.

 1.Rising sales of Automotive: accelerating the US Carbon Black market

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Carbon Black is widely used in the automotive vehicles primarily in their tires. The main purpose of usage of this product is to ensure the good strength of the tires. As the sales of automotive vehicles rises, the demand for Carbon Black also rises which ultimately results in the growth of US Carbon Black Market.

Automotive vehicles have always been sold widely in the US. In 2018 and 2019, approximately 17.3 million and 17 million vehicles were sold.

However, the US witnessed a sharp decline in the sales of automotive vehicles after the arrival of Covid-19. In 2020, only 14.5 million automotive vehicles were sold. Speaking of 2022, approximately 15 million vehicles were sold.

Despite the pandemic, it is still a large number and it is only expected to further rise in the upcoming years.

As per the data of 2020, almost 92% households in the United States have at least one automotive vehicle.

Moreover, in 2020, globally approximately 77 million vehicles were manufactured. US happens to be the second largest producer of these vehicles, being only after China and producing almost ~9 million vehicles.

When there are such high number of automotive vehicles being sold and made, the demand for Carbon Black also rises as the Carbon Black is required in strengthening of tires which are a key element in any vehicle. This way, the automotive vehicles help in the growth of US Carbon Black market.

 2.Rising Urbanization: pumping the US Carbon Black Market

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Urbanization has been rapidly growing in the United States. Urbanization is also a key contributor of US Carbon Black market as the urbanization rise, the construction processes, and transportation also rise in the country, all of which requires the use of Carbon Black.

In the 2000s, 79% of people were living in urban areas and the rest 21% were living in rural areas. During the 2010s, the percentage of people living in urban areas rose to 81 and rest 19% people were still in rural areas.

During the 2020s, 83% of people are living in urban areas and the 17% of people are still living in rural areas.

This number is projected to become 85% people living in urban areas during the 2030s. During the 2040s, it is anticipated that 87% of people would be living in urban areas and the rest 13% of people would be living in rural areas.

By 2050s, 89% of people would be living in urban areas and just 11% of people would be living in rural areas.

When such high percentage of US population is living in urban areas, the number of automotive vehicles, transportation processes, and construction processes also happen to be happening at large. All of these things require the use of Carbon Black which ultimately drives the US Carbon Black market.

3.Rising demand for Rubber products which also make use of Carbon Black:

The rising demands of Rubber is another factor that is majorly contributing to the growth of US Carbon Black market. Many rubber products such as tires, belts, rubber gloves, hoses, shoe soles, gaskets, etc. make use of Carbon Black.

In 2021, the United States exported approximately USD 73 Mn. worth of rubber. The country is known to be the 19^th largest exporter of rubber in the world which primarily exports it to Brazil, Netherlands, Canada, Mexico and Germany.

Speaking of their imports, US imported about USD 200 bn. worth of rubber in 2021. The nation happens to be 2nd largest importer of rubber which mainly imports from Indonesia, Vietnam, and Thailand.

The high number of US’ imports depict nothing but the demand for rubber and rubber products in the country. Many rubber products make use of Carbon Black. Thus, as the demand for rubber rises, the demand for Carbon Black also rises which in turn helps in the growth of the US Carbon Black market.

4.Industrial growth in the country: pumping the US Carbon Black market

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Industrial growth in the country also results in generating the demand for Carbon Black as it is widely used in manufacturing and construction processes.

The United States witnessed approximately 2.3% of industrial growth in 2019. This number decreased down to -2.6% and -3.2% in the years 2020 and 2021 respectively primarily due to the negative effect of Covi-19. Due to the pandemic, all the construction and manufacturing processes were frozen.

However, in the 2022, the industrial growth made a strong come back. The US witnessed an industrial growth of 3.8%.

Now as the industrial growth increases, the construction and manufacturing processes also increase which ultimately generate the demand for Carbon Black, thereby contributing to the growth of US Carbon Black Market.

CONCLUSION

There are various reasons responsible for the growth of US Carbon Black market. Some of the major reasons behind the growth of US Carbon Black market include rise in automotive vehicle sales, industrial growth, increase in demands for rubber goods and increase in urbanization rates. As per Ken Research, this market is anticipated to grow at a CAGR of ~2.5% in the next five years.