:The global Nickel Metal Hydride Battery Market is estimated to be valued at US$ 2.93 Bn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 - 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Nickel metal hydride (NiMH) batteries are rechargeable batteries commonly used in hybrid electric vehicles, power tools and consumer electronics. The battery provides higher energy density compared to other rechargeable battery technologies along with zero maintenance and memory effect. Its applications include power tools, medical equipment, industrial and emergency lighting due to its advantages over lead-acid and lithium-ion batteries. Market key trends: One of the key trends driving the growth of the nickel metal hydride battery market is increasing demand for power tools. The discharge capacity and maintenance-free operations of NiMH batteries make them suitable for power tools. The rising construction activities across both residential and non-residential sectors are augmenting the demand for power tools, thereby fueling the sales of NiMH batteries. Moreover, growth in infrastructure development projects is also boosting the power tool market. Segment Analysis The global nickel metal hydride battery market is segmented by type, application, and region. By type, the market is bifurcated into small-sized nickel-metal hydride batteries and large-sized nickel-metal hydride batteries. The small-sized nickel-metal hydride batteries segment currently dominates the market as they are widely used in consumer electronics such as cameras, toys, remote controls, and other small devices due to their compact size and high energy density. Key Takeaways The global Nickel Metal Hydride Battery Market Size is expected to witness high growth, exhibiting a CAGR of 4.6% over the forecast period from 2023 to 2030, due to increasing demand for cordless power tools and other industrial applications. Regional Analysis The North America region currently dominates the nickel metal hydride battery market and is expected to continue its dominance over the forecast period. This can be attributed to the rising demand for cordless power tools and appliances in the industrial and residential sectors in the region. The Asia Pacific region is expected to be the fastest growing market owing to growth in industries and infrastructure development activities in developing economies such as China and India. Key Players Key players operating in the nickel metal hydride battery market are Panasonic, Primearth EV Energy, FDK, GP Batteries, Corun, Huanyu battery, GS Yuasa, Spectrum Brands (Rayovac), Lexel Battery (Coslight), EPT Battery, Energizer Holdings, Great Power Energy, Suppo, Duracell, Cell-Con, Highpower International, Maxell, Nanfu, PKCELL, EVE Energy. Panasonic currently dominates the market owing to its robust supply chain and technical expertise in battery manufacturing. Read more @ https://www.newsanalyticspro.com/nickel-metal-hydride-battery-market-connected-with-market-growth-opportunity/
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The global Biodegradable Fabrics Market is estimated to be valued at US$ 5.86 Bn or Mn in 2023 and is expected to exhibit a CAGR of 12.6% over the forecast period 2023 - 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Biodegradable fabrics are textiles that can be decomposed into natural elements such as water, carbon dioxide, and biomass. These fabrics are environment-friendly and are produced using natural fibers including cotton, bamboo, hemp, modal and others. Biodegradable fabrics offer advantages such as moisture absorbency and enhanced breathability. The rising concerns over environmental pollution have fueled the demand for sustainable materials in textiles industry. Market key trends: One of the key trends in the global biodegradable fabrics market is growing adoption of biodegradable fabrics in fashion and clothing industry. Consumers are increasingly opting for apparel produced using natural and eco-friendly fibers due to rising environmental consciousness. This has motivated clothing brands and retailers to offer biodegradable clothing lines to meet growing consumer demand. For example, clothing companies such as H&M and Inditex have launched new collections made from fabrics containing biodegradable fibers including organic cotton and bamboo rayon. The trend towards sustainable fashion is expected to continue driving market growth over the coming years. Segment Analysis The global biodegradable fabrics market is segmented by material, application, and region. On the basis of material, the market is segmented into polylactic acid, polyhydroxyalkanoates, lyocell, protein-based fabrics, and others. The polylactic acid segment dominated the market in 2023 and is projected to maintain its dominance over the forecast period. Polylactic acid is widely used in the production of biodegradable fabrics due to its excellent thermal stability and mechanical strength. Key Takeaways The global Global Biodegradable Fabrics Market Demand is expected to witness high growth, exhibiting a CAGR of 12.6% over the forecast period 2023 - 2030, due to increasing environmental concerns regarding non-biodegradable petroleum-based fabrics. The market size is estimated to reach US$ 5.86 Bn in 2023. Regional analysis North America dominated the biodegradable fabrics market in 2023 and is expected to maintain its leading position over the forecast period. The high growth in the region can be attributed to stringent government regulations regarding the production and usage of non-biodegradable fabrics. Asia Pacific is expected to witness the fastest growth, owing to rapid industrialization and growing textile industry in countries such as China and India. Key players Key players operating in the biodegradable fabrics market are Ecologic Fiber, Enka Textile, Hemp Inc, David C. Poole, Eco Textile, Propex, Greenfibres, EnviroTextiles, Vestagen Protective Technologies, W.L. Gore & Associates, Taiwan Singtex Industrial Company, Tengri, Bcomp, Flexform Technologies, Aquafi, Eucarpe, Toad&Co, Amadou Naturals, Back Beat Co., and SynZenta. Ecologic Fiber and Propex are identified as the market leaders due to their extensive product portfolio and strong distribution network across various regions. Read more @ https://www.newsanalyticspro.com/global-biodegradable-fabrics-market-connected-with-ecolobic-fiber-growth/ The global Foot Creams and Lotions Market is estimated to be valued at US$ 3.51 billion in 2022 and is expected to exhibit a CAGR of 9.6% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Foot creams and lotions are widely used for foot care and moisturization. They help relieve dry, cracked, and callused skin by hydrating and softening the skin on feet. Their regular application prevents skin issues and odor. Market key trends: One of the key trends in the foot creams and lotions market is the increasing demand for natural and organic products. Consumers are more inclined towards natural ingredients such as aloe vera, jojoba oil, shea butter etc. due to rising awareness about harmful chemicals in conventional cosmetics. They offer anti-inflammatory and moisturizing properties without negative health effects. Another major trend is multi-functional foot creams incorporated with ingredients like menthol, peppermint, tea tree oil etc. to treat conditions like athlete's foot and cracked heels along with moisturization. Segment Analysis The foot creams and lotions market can be segmented into medicated and non-medicated. The non-medicated sub-segment currently dominates the market, accounting for around 65% share. This is because non-medicated foot creams do not contain any active ingredients and are suitable for general moisturizing and softening of feet. However, the medicated sub-segment is expected to witness higher growth during the forecast period driven by increasing cases of foot problems like dry, cracked heels and calluses due to long working hours and outdoor activities. Key Takeaways The global Foot Creams and Lotions Market Insights size is expected to witness high growth, exhibiting CAGR of 9.6% over the forecast period, due to increasing physical activities and growing awareness about foot health and care. Regional Analysis North America currently leads the global foot creams and lotions market, accounting for around 40% share followed by Europe and Asia Pacific. Presence of leading players and higher disposable incomes have contributed to North America's dominance. However, Asia Pacific is anticipated to emerge as the fastest growing regional market during the forecast period supported by burgeoning middle class population and rising health consciousness in major economies like China and India. Key Players Key players operating in the foot creams and lotions market are Johnson & Johnson, Bayer AG, GlaxoSmithKline Plc, Baby Foot, Sanofi S.A., Grace & Stella Co., PediFix Inc., Alba Botanica, Tony Moly Co. Ltd., Aveeno, Bio-Oil, Dr Teal's, Bath & Body Works, The Body Shop, Nivea, O'keeffe's, L'Occitane, La Roche-Posay, CeraVe, and Eucerin. Product innovation and expanded regional presence are some of the strategies adopted by key players to strengthen their market position. Read more @ https://www.newsanalyticspro.com/custom-shoes-market-size-share-demand-trends-growth-and-forecast-analysis-2023-2030-2/ The global Custom Shoes Market is estimated to be valued at US$ 5.03 billion in 2022 and is expected to exhibit a CAGR of 11.8% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Custom shoes are specially designed footwear made according to individual's requirements and needs such as preferences related to style, size, color, material etc. Custom shoes offer superior comfort and perfect fit along with aesthetic appeal. The growing demand for customized and personalized products is driving the demand for custom shoes market. Market key trends: One of the major trends in the custom shoes market is the increasing preference for vegan and eco-friendly shoes. Consumers are increasingly opting for sustainable and environmentally friendly shoes made from recycled and natural materials such as bamboo, cork and coconut fibers. Prominent custom shoes brands are focusing on launching product lines made from alternative plant-based and recycled materials to cater to the growing demand. For instance, Veja produces custom sneakers made from recycled plastic bottles and wild rubber. Such initiatives are fueling the growth of custom shoes market. Segment Analysis The global custom shoes market is dominated by the sports shoes segment, which accounted for nearly 35% of the total market share in 2023. The dominance of the sports shoes segment can be attributed to the rising participation in sports and fitness activities across the world. With increasing health consciousness among people of all ages, the demand for customized sports shoes that offer enhanced comfort, support and performance has been growing steadily. Within the sports shoes segment, running shoes was the largest sub-segment in 2023 due to rising popularity of running and jogging as fitness activities. Key Takeaways The global Custom Shoes Market Demand was valued at US$ 5.03 billion in 2023. It is expected to witness high growth, exhibiting a CAGR of 11.8% over the forecast period from 2023 to 2030, driven by increasing consumer preference for customized products that cater to individual requirements. Regional analysis: North America dominated the global custom shoes market in 2023 with a share of over 30%, followed by Europe. North America is expected to continue its dominance during the forecast period owing to growing health consciousness and participation in sports & fitness activities in the region. The market in Asia Pacific is projected to grow at the fastest CAGR during the same period, supported by rising disposable incomes, expanding middle class population and increasing penetration of global footwear brands in developing countries such as China and India. Key players: Key players operating in the custom shoes market are Nike, Adidas, New Balance, Puma, Asics, Skechers, Vans, Converse, Sperry, Crocs, Timberland, Clarks, ECCO, Wolverine Worldwide, Deckers Brands, Aldo Group, Genesco, Steve Madden, Caleres, and GEOX. Nike dominates the global market, leveraging its strong distribution network and continuous focus on product innovation through customization. Adidas follows in terms of market share, spearheading the trend of personalized shoes with its "miadidas" platform. Read more @ https://www.newsanalyticspro.com/custom-shoes-market-size-share-demand-trends-growth-and-forecast-analysis-2023-2030/ The global Asia and Oceania Creator Economy Market is estimated to be valued at US$ 135.20 billion in 2022 and is expected to exhibit a CAGR of 30% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: The Asia and Oceania creator economy refers to the production of goods and services by individual content creators, artists and entrepreneurs. This includes creators of videos, music, blogs and more who earn income directly from their fans and audience. The creator economy offers a new way for digital content makers to directly monetize their passion and creativity. Market key trends: One of the major trends in the Asia and Oceania creator economy market is the rise of short-form video apps and platforms. Apps like TikTok, Kuaishou and like-shorts on Instagram have seen massive growth over the past few years with hundreds of millions of users in the region. They have emerged as an important revenue stream for creators through mechanisms like tips, subscriptions and e-commerce integrations. Short videos are also driving the growth of virtual gifting cultures where fans financially support their favorite creators. Such platforms are enabling new micro-influencers from small towns and villages to build sizeable fan followings and earn an income. Segment Analysis: The Asia and Oceana Creator Economy market is segmented into content creators, content services, and content publishers. The content creators segment is currently dominating the market as it accounts for over 35% of the total market share. This is because the region has witnessed a surge in the number of talented individuals producing different types of content such as gaming videos, comedy sketches, food reviews, and more. Moreover, various content platforms have made it easy for these individuals to monetize their content and skills. Key Takeaways The global Asia and Oceania Creator Economy Market Share is expected to witness high growth, exhibiting a CAGR of 30% over the forecast period, due to increasing investments by tech giants and proliferation of content streaming platforms. Regional analysis Asia Pacific region currently dominates the creator economy market with over 45% share. This is because countries like China and India have a large population of young content creators with diverse skills. Furthermore, presence of leading platforms like TikTok, Kuaishou and others have boosted the growth of creator economy in the region. The North American region is projected to grow at a high pace during the forecast period due to increasing demand for streaming content in the US and Canada. Key players Key players operating in the Asia and Oceana Creator Economy market are ByteDance (TikTok, Douyin), Kuaishou, Bilibili, Tencent (WeChat, Tencent Video), Alibaba (Taobao, Weibo), Meta (Facebook,Instagram), YouTube, Twitch, OnlyFans, Patreon, Substack, Kickstarter, Indiegogo, Disco, Cameo. ByteDance and Kuaishou have established a strong foothold in the Asia market through their short video platforms TikTok and Kuaishou respectively. Tencent is also dominating the market through its gaming and social media platforms WeChat and Tencent Video in China. Read more @ https://www.newsanalyticspro.com/asia-and-oceania-creator-economy-market-size-status-andopportunities-2023-2030/ The Arduino Compatible Market is estimated to be valued at US$ 1.35 billion in 2023 and is expected to exhibit a CAGR of 12.2% over the forecast period 2023 - 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Arduino boards are open-source microcontroller boards used to build a variety of digital and interactive objects including wearables, home automation projects, interactive art installations, and educational tools. Main applications of Arduino boards include IoT, robotics, and desktop CNC machines. The boards read inputs like light, temperature and sound and turn them into outputs like activating a motor or LED. Market Dynamics: The Arduino compatible market is expected to witness high growth owing to increasing adoption and popularity of IoT and maker movement across the world. There is a growing demand for microcontrollers and open source hardware platforms like Arduino and Raspberry Pi for IoT and home automation projects. According to Arduino's State of IoT Report 2022, over 1 billion IoT connected devices were added globally in 2021, with IoT networks growing by 31% year-over-year. Moreover, the maker culture and maker movement has gained widespread popularity among hobbyists, students and researchers who want to build interactive objects and prototypes. This has boosted the demand for Arduino boards which provide an affordable, flexible and easy hardware platform for makers and innovators. SWOT Analysis Strength: Arduino compatible products are cost-effective solutions for hobbyists, students and entrepreneurs to build electronics projects. They allow developers to quickly prototype and develop ideas without needing in-depth knowledge of electronic hardware. Many libraries and code examples are available online to help users get started easily. Weakness: The open source nature of Arduino means that quality control can vary significantly across manufacturers. Cheaper clones may have reliability issues compared to officially branded boards. Users require some familiarity with coding and electronics to effectively work with these platforms. Opportunity: The maker movement and increasing interest in STEM education provides opportunities to further popularize Arduino compatible boards, especially among students and hobby communities. IoT and embedded applications also provide scope to utilize microcontrollers in industrial and commercial products. Threats: Larger chipmakers are able to provide competing microcontroller-based solutions targeting industrial and commercial customers which have more features and reliability than Arduino boards. Software platforms from companies like Intel can also emerge as alternate options for developing IoT applications. Key Takeaways The global Arduino Compatible Market Size is expected to witness high growth, exhibiting a CAGR of 12.2% over the forecast period, due to increasing adoption in education and industrial automation. Regional analysis: North America dominates the global market currently due to strong presence of maker communities and technology adoption. However, Asia Pacific is expected to be the fastest growing regional market, majorly driven by growing electronics manufacturing industry in countries like China, Taiwan, India etc. Key players: Key players operating in the Arduino compatible market are Arduino, Adafruit, SparkFun, Seeed Studio, Microchip, NXP Semiconductors, STMicroelectronics, Texas Instruments, Cypress Semiconductor, Silicon Labs, Renesas Electronics, Infineon Technologies, Maxim Integrated, ON Semiconductor, Microchip Technology, Semtech, Analog Devices, ROHM Semiconductor, FTDI Chip, Intel. All major players focus on expanding their product portfolio as well as regional footprint to tap the growth opportunities. Read more @ https://creativeedge16.blogspot.com/2023/10/arduino-compatible-market-remarking.html U.S 503B compounding pharmacies contributes a large share. The global U.S 503B compounding pharmacies Market is estimated to be valued at US$ 985.6 Mn in 2022 and is expected to exhibit a CAGR of 7.6% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Compound pharmacies combine or mix drugs based on individual patient needs or requirements that cannot be met through traditional medication lists. They produce customized medication in various dose forms and strengths tailored as per physician prescriptions. Compounded medications fill important gaps for patients with special clinical needs. Market key trends: One of the key trends in the U.S 503B compounding pharmacies market is the growing demand for compounded medications. According to the International Academy of Compounding Pharmacists, nearly 50% of the U.S population uses at least one compounded medication each year. This is attributed to the unique ability of compounding pharmacies to custom-make medications based on individual needs and preferences that help address medical conditions more effectively. Furthermore, the declining healthcare reimbursements and increasing out-of-pocket costs have boosted the demand for lower cost alternatives like compounded medications. Segment Analysis The U.S 503B compounding pharmacies market is dominated by 503B outsourcing facilities segment. 503B outsourcing facilities are third-party facilities which produce compounded medications in bulk quantities. They can supply compounded medications without receiving individual patient prescriptions. These facilities are allowed to produce and market compounded drugs directly under section 503B of the FDA Safety and Innovation Act. The dominance of this segment can be attributed to the standardized production process of 503B outsourcing facilities which ensure quality and safety of compounded drugs produced. In addition, 503B outsourcing facilities have helped address drug shortages in the US by manufacturing drugs listed as unavailable by the FDA. Key Takeaways The global U.S 503B Compounding Pharmacies Market Size is expected to witness high growth, exhibiting CAGR of 7.6% over the forecast period, due to increasing incidence of medication shortages in the United States. As per market estimates, the market was valued at US$ 985.6 Mn in 2022. The Western region dominated the U.S 503B compounding pharmacies market in 2022 with a share of over 35%, due to the large availability of 503B outsourcing facilities in states like California, Texas and Illinois. However, South region is anticipated to witness fastest growth during the forecast period, fueled by growing compounding pharmacies in states like Florida, Georgia and South Carolina. Key players operating in the U.S 503B compounding pharmacies market are Central Admixture Pharmacy Services, Inc., Nephron Pharmaceuticals Corporation, QuVa Pharma, Olympia Pharmacy, ASP Cares, Fagron Compounding Pharmacies, Athenex, Inc., Avella Specialty Pharmacy, Atlas Pharmaceuticals, Empower Pharmacy, Carie Boyd’S Prescription Shop, Edge Pharma, Imprimis NJOF, LLC, IntegraDose Compounding services, LLC, Wells Pharma of Houston, LLC, US Compounding Inc., and SCA Pharma. The market is concentrated in nature owing to presence of few large players accounting for prominent market share. Read more @ https://www.newsanalyticspro.com/u-s-503b-compounding-pharmacies-market-connected-with-key-trends-and-insights/ The global luxury concierge service Market is estimated to be valued at US$ 491.1 Mn in 2022 and is expected to exhibit a CAGR of 5.5% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.
Luxury concierge services provide customised services such as travel planning, event planning, luxury gift sourcing, and home services to high-net-worth individuals. These services help save time and effort for busy customers by taking care of day-to-day tasks. There is an increasing demand for luxury lifestyle experiences among affluent individuals, which is driving the growth of the luxury concierge service market. Market Overview Luxury concierge services provide personalized services like travel arrangements, luxury shopping services, exclusive event planning and home services to high-net-worth individuals .These services helps save time and efforts for busy customers by handling their everyday tasks. Market key trends One of the key trends in the luxury concierge service market is the rising popularity of online concierge services. Many luxury concierge service providers are developing mobile applications and websites to offer their services digitally. This allows customers to request services remotely through online platforms. The digital platforms also help concierge companies track customer requests and preferences better to provide customized services. The increasing internet and smartphone penetration worldwide is propelling the demand for online concierge services. Segment Analysis The luxury concierge service market is segmented by service type and end-user. Based on service type, the transportation segment dominated the market in 2021 with a market share of over 30%. This is mainly because transportation services such as airport transfers, chauffeur services, and sightseeing tours are among the most sought-after services by travelers. Based on end-user, the individual segment is expected to be the fastest-growing segment during the forecast period. This growth can be attributed to the rising number of high-net-worth individuals opting for luxury concierge services to fulfill their individual needs and requirements while traveling. Key Takeaways The global Luxury Concierge Services Market Segmentation is expected to witness high growth, exhibiting a CAGR of 5.5% over the forecast period from 2022 to 2030, due to increasing travel and tourism activities worldwide. In 2021, the market size stood at US$ 458.2 Mn. Regional analysis- Europe dominates the luxury concierge service market currently, accounting for over 30% market share in 2021. This is attributed to the presence of major luxury concierge service providers and high demand for luxury travels in countries like France and Italy. However, Asia Pacific is expected to witness the fastest growth during the forecast period due to rising incomes and increasing number of HNIs in countries like China and India. Key players analysis- Key players operating in the luxury concierge service market are 48 London, Alpine Escape, Arburton Ltd, Aspen Luxury Concierge Service LLC, AZ Luxe, Bon Vivant, Globe Infinite, Ibiza Luxury Concierge Service, Innerplace Co., and John Paul. 48 London dominates the market with a global presence and wide service portfolio including travel booking, event management and pet services among others. Read more @ https://www.newsanalyticspro.com/luxury-concierge-services-market-connected-with-changing-consumer-needs-heading-demand/ Semaglutide Market is Estimated To Witness High Growth Owing To Rising Adoption of Mobile Devices10/31/2023 The Semaglutide market is estimated to be valued at US$ 2.17 Billion in 2022 and is expected to exhibit a CAGR of 8.71% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Semaglutide is an injectable glucagon-like peptide-1 (GLP-1) receptor agonist used for the treatment of type 2 diabetes and obesity. It works by stimulating the release of insulin from pancreatic beta cells. It is also used along with diet and exercise to improve blood sugar control in adults with type 2 diabetes and to reduce body weight in adults who are obese or overweight with weight-related medical problems. Compared to other diabetes drugs, semaglutide provides superior glycemic control and higher rate of weight loss. Market key trends: The increasing incidence rate of obesity and diabetes across the world is driving the demand for semaglutide for weight management and glycemic control. According to the International Diabetes Federation, by 2030, around 643 million adults aged 20-79 years will suffer from diabetes. Obesity rates are also rising globally due to unhealthy lifestyle habits such as physical inactivity and consumption of junk food. Semaglutide offers more effective treatment options for obesity and diabetes compared to other drugs, which is supporting its higher adoption. The ongoing research and clinical trials for developing new formulations of semaglutide for other indications such as non-alcoholic steatohepatitis (NASH) is further expected to boost the market growth over the forecast period. Porter’s Analysis Threat of new entrants: High R&D costs for producing drugs and stringent regulations for market entry pose high barriers for new companies. Bargaining power of buyers: Buyers have low bargaining power as there are few available substitutes for semaglutide. Bargaining power of suppliers: Suppliers have high bargaining power due to their specialized skills and technologies required for manufacturing active pharmaceutical ingredients. Threat of new substitutes: Moderate as new drugs can capture market share but semaglutide offers advantages over existing anti-diabetic drugs. Competitive rivalry: High as Novo Nordisk faces competition from other players. SWOT Analysis Strengths: Established brand name and strong pipeline of drugs. Weaknesses: Heavy reliance on diabetes drugs for revenue. Opportunities: Growth in semaglutide market due to rising diabetes prevalence and new therapeutic applications. Threats: Price controls and healthcare reforms can reduce profits. Patent expiration of blockbuster drugs is also a threat. Key Takeaways The global Semaglutide Market Growth size is expected to witness high growth, exhibiting CAGR of 8.71% over the forecast period, due to increasing prevalence of obesity and diabetes. According to WHO, the number of adults with diabetes has increased from 108 million in 1980 to 422 million in 2022. Semaglutide offers promising alternative for glycemic control and leads to significant weight loss in patients. Regionally, North America dominated the semaglutide market in 2021 with over 40% share, due to growing obesity rates and favorable reimbursement policies. However, Asia Pacific is expected to witness the highest CAGR during the forecast period owing to rising healthcare expenditure, growing diabetes patient pool, and increasing awareness about new treatment options . Key players operating in the semaglutide market are Novo Nordisk. Novo Nordisk leads with over 95% market share through its blockbuster drug Ozempic. It is focusing on new drug delivery technologies and geographic expansions to maintain its leadership. Read more @ https://www.newsstatix.com/the-semaglutide-market-estimated-to-witness-strong-growth-demand-and-insights/ The global U.S Flexfuel Cars Market is estimated to be valued at US$ 4.47 Bn or Mn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Flexfuel vehicles allow the use of more than one fuel. These vehicles can operate on gasoline or any mixture of gasoline and ethanol up to 85% ethanol (E85). Flexfuel vehicles provide advantages such as energy security, cost savings, and reduced emissions. With growing concerns related to energy security and environmental protection, flexfuel vehicles are gaining widespread acceptance. Market key trends: One of the major trends in the U.S flexfuel cars market is the steady rise in research and development activities among key flexfuel car manufacturers. Growing production and demand for biofuels such as ethanol is encouraging major automakers to focus on developing more flexfuel models. For instance, in 2020, Ford Motor Company announced that most of its SUV lineup produced in the U.S will be FlexFuel capable, allowing operation on E15 or E85. Similarly, other players such as GM, Nissan, and Toyota are also launching new flex fuel car models with bi-fuel capabilities. This is expected to significantly drive the adoption of flex fuel vehicles in the coming years. Segment Analysis The U.S flexfuel cars market is dominated by mid-size passenger vehicles segment. This segment accounted for over 30% of the total market share in 2023 due to rising demand for practical yet fuel-efficient vehicles for private as well as commercial transportation purposes. The compact category is expected to witness the fastest growth during the forecast period owing to increasing consumer preference for compact SUVs and sedans that can operate on multiple fuel types. Key Takeaways The U.S flexfuel cars market is expected to witness high growth, exhibiting a CAGR of 6.5% over the forecast period, due to increasing fuel price volatility and rising environmental awareness. Regional analysis The Western region dominated the U.S flexfuel cars market in 2023 with over 35% share. However, the Midwestern region is anticipated to grow at the fastest rate during the forecast period owing to the widespread availability of ethanol pumps and supportive legislation for biofuel adoption in states such as Iowa and Illinois. Key players Key players operating in the U.S Flexfuel Cars Market Trend include Toyota Motor Corporation, Honda Motor Co., Nissan Motor Co., Volkswagen AG, BMW Group, Daimler AG, Hyundai Motor Company, Fiat Chrysler Automobiles, Mitsubishi Motors, Ford Motor Company, General Motors, Mazda Motor Corporation, Subaru Corporation, Isuzu Motors Ltd, Suzuki Motor Corporation. Renault SA, PSA Group, and Tata Motors hold a minor collective share of less than 5% due to their limited presence and product lines in the U.S market. Toyota is the leading player with over 10% share attributed to its wide range of hybrid and flex-fuel sedan and SUV models. Read more @ https://www.newsanalyticspro.com/u-s-flexfuel-cars-market-key-trend-outlines-flexibility-size-share-and-demand/ |
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