China NEV Taxi Market to Help Boost China’s Energy Independence and Control Intense Oil Consumption

The China new energy vehicle (NEV) taxi market is foreseen to ride on the aggressive response to company owned type of NEV taxis for its extensive success. The operation and maintenance of NEV taxis are mostly handled by taxicab companies, although a majority of them are owned by the state. The short range NEV taxis gained a lot of traction in the past due to the large demand from frequent local commuters. However, a sizable share in the Chinese market is expected to be acquired by the long range NEV taxi segment on the back of valuable developments in battery technology.

A report by leading research firm, Transparency Market Research (TMR), predicts the China NEV taxi market to attain the revenue figure of approximately US$0.56 bn by 2020. In 2016, the market had raised a revenue of US$0.15 bn. By the end of 2020, the number of taxis in China could take some hike due to the decreasing lifecycle of traditional fuel based taxis.

Will Government Support to Promote Energy Savings and Green Vehicles Heighten Demand?

The Chinese government is looking to make available a least of five million electric cars on the streets by 2020 and likewise promote NEVs to address the rising environmental concerns. Of these, increasing energy demands, elevating greenhouse gas emissions, and speedily exhausting natural resources and fossil fuels have taken precedence. In this regard, the government has also introduced a number of effective NEV subsidies.

The China NEV taxi market could also gain impetus from the ability of NEVs to slim down carbon dioxide emissions by a whopping 40.0%, which is a tough competition to internal combustion engine vehicles (ICEVs).

China is one of the largest net importers of oil and the demand is continuing to increase as the Chinese streets get overcrowded with vehicles due to rapid urbanization. Moreover, the global oil prices are anticipated to augment considerably, which could create significant oil supply fluctuations in China. However, with NEVs, China can sustain their independence and also keep their rising oil and gasoline consumption at check.

The advancement in technology, especially pertaining to charging models and batteries, has put NEVs in a position where they are becoming practicable in select mass market applications.

Is Lack of Full-scale Charging Infrastructure an Exposure to Market Risk?

The growth of the China NEV taxi market could be hindered due to the uneven and limited distribution of charging stations, although there have been advancements witnessed in vehicle electrification. Besides this, the market could suffer from the cost of NEVs and their batteries and issues related to reliability and safety.

Howbeit, some of the crucial opportunities are envisaged to take birth from the paradigm shift from ICEVs to NEVs, which has offered a vital upgradation not only in terms of business models but also sustainable electric mobility. Moreover, the rear and bottom battery swap models have eliminated the problem of going out of battery during unexpected times. A fully charged battery can be installed only within 10 minutes with the help of battery packs reserved within the vehicle body. Not to forget, reliable chances of growth for the China NEV taxi market are envisioned to be provided by the use of range-extended electric vehicles (REEVs) and vehicle-to-grid (V2G) technology.

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Prominent players such as Anhui Jianghuai Automobile Co. Ltd. (JAC), Beijing Automotive Industry Holding Co. Ltd. (BAIC), Dongfeng Nissan Passenger Vehicle Company, Beiqi Foton Motor Co. Ltd., BYD Auto Co. Ltd., and Changan Automobile Co. Ltd. are foreseen to exhibit dominance that is worthy of attention.

Use of Focused Ion Beam across Diverse Applications to Offer Promising Growth Opportunities for Players

Focused ion beam systems are being used extensively across the globe for around two decades, especially in nanofabrication and sample preparation. The setup of focused ion beam is a scientific instrument that is comparatively similar to a scanning electron microscope. The increasing use of focused ion beams in the field of nano machining is anticipated to encourage the growth of the global focused ion beam market in the next few years. 

According to a research study by Transparency Market Research, in 2015, the global market for focused ion beam was worth US$300 mn. The market is anticipated to reach a value of US$528 mn by the end of 2024, exhibiting a healthy 6.80% CAGR between 2015 and 2024. Some of the questions addressed in the blog have been given below:

Which factors are anticipated to encourage the growth of the global focused ion beam market?

The global market for focused ion beam market is projected to witness progressive growth in the coming years, thanks to the expansion of the application base. The growing use of focused ion beam in the field of sample preparation and the rising demand for lithography are some of the vital factors likely to fuel the growth of the overall market in the next few years. Furthermore, the use of focused ion beam in equipment that is being used for failure analysis is expected to provide promising opportunities for key players operating in the overall market.

Which business strategies adopted by the leading players are anticipated to accelerate growth?

At present, the global focused ion beam market is highly consolidated in nature, owing to the presence of a few leading players holding a key share of the overall market. The growing focus of the leading players on research and development activities and the expansion of the application base are some of the key strategies are some of the major strategies that are anticipated to encourage the growth of the global market in the next few years. In addition, technological advancements and the growing focus on research and development activities are anticipated to accelerate the growth of the overall market in the near future.

Which regional segment is likely to witness strong growth in the next few years?

According to the research study, in 2015, Europe led the global focused ion beam market and is anticipated to remain in the leading position in the near few years. The high growth of this segment can be attributed to the rising demand and penetration of focused ion beam in the semiconductor industry. In addition, this region is expected to witness substantial growth in the coming years, thanks to its increasing use in the research and development institutions. Furthermore, North America is expected to account for a significant share in the global market and retain its second leading position in the near future.

Key Vendors Resorting to Hefty Discounts to Improve their Standing in the Global Surgical Navigation Systems Market

Based on the type of products, the key segments of the global surgical navigation systems market are neurosurgical navigation systems, ENT navigation systems, and orthopedic navigation systems. Among them, the neurosurgical navigation systems hold a leading share in the market due to the increasing number of complex neurosurgeries such as surgeries of brain and spine being conducted annually. The orthopedic navigation systems market trails it and the ENT navigation systems market follows in the third position.

As far as the competitive dynamics is concerned, the market is characterized by stiff competition on account of vendors constantly endeavoring to outdo each other with discounts and powerful marketing strategies. Some such tactics leveraged by vendors are providing navigation systems to community hospitals at a reduced price, fee per use, customer portal and operating room assistance, and medical education. 

At present, the global market for surgical navigation systems is moderately concentrated with a handful of well-entrenched players dominating. As per Transparency Market Research, the market is slated to reach a value of US$295.5 mn by 2020.

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What is the unique perceived benefit of surgical navigation systems that is driving the growth in its market?

The primary advantage of surgical navigation system is the precision they accord in a gamut of surgeries. They include the use of imaging modalities in surgical procedures which facilitate the minimally invasive surgeries. With the soaring popularity of minimally invasive surgeries worldwide for ENT, orthopedic, neurological, and trauma, the demand for surgical navigation systems has grown too. Minimally invasive surgeries are being increasingly preferred by patients as they result in fast healing of wounds, reduced hospital stay, and most important lesser pain to the patient.

What is countering the growth in the global market for surgical navigation systems?

Damping demand in the global market for surgical navigation systems is the expensiveness of the equipment. Besides, the surgical navigation systems are not purchased frequently by end-users. This makes it difficult for vendors to find new customers. To overcome the challenges, they are resorting to strategies such as providing continual medical education (CME) classes to medicos, particularly surgeons. 

Which are the key regional markets for surgical navigation systems?

Geographically, North America leads the global market for surgical navigation systems and is trailed closely by Europe. Factors at the forefront of driving stellar growth in the North America market are a robust regulatory framework, an excellent healthcare infrastructure, and higher healthcare spending. In the years ahead, the Asia-Pacific market is poised for impressive growth because of the popularity of medical tourism, focus on improvement of healthcare infrastructure by authorities, and higher allocation for the healthcare sector by the government. Europe along with the Rest of the World is also predicted to grow at a good clip in the near future.

Product Innovations in Optical Imaging to Boost Clinical Outcomes Creating Exciting Growth Opportunities for the Market Players

Optical imaging is a fast emerging medical imaging technology and utilizes the light spectrum--visible, ultraviolet, and infrared light—for obtaining the detailed images of different body tissues and is used primarily for disease diagnosis and treatment. The technology possesses an immense potential for disease prevention by enhancing medical diagnosis and treatment. Additionally, it has applications for researches in life science and studies. The manufactures have made significant technological advancements in the devices which has opened a plethora of opportunities to market players. The application of this non-invasive technology is particularly useful for visualizing soft tissues.

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How will optical imaging devices enhance disease diagnosis?

The increasing incidence of various disorders and chronic diseases such as cancer calls for timely and accurate diagnosis. The increased use of optical imaging devices has revolutionized the therapeutic and diagnostics sector. The prevalence of sedentary lifestyle, increasing count of geriatric population, and enhanced awareness of several optical imaging technologies are the primary factors spurring the demand for optical imaging devices in healthcare. The increasing incidence rate of ailments such as diabetes, gastrointestinal diseases, and tumors across various regions, especially in low to medium income countries has necessitated the use of effective diagnosis. The developments have provided impetus the market growth.

In addition, the prevalence of aging-associated orders, such as dental problems, vision problems, and cardiovascular diseases in various developed and developed economies has led to the growth of the optical imaging market. The rising prevalence of disorders related to eyes, skin, and brain is expected to stimulate the demand for advanced optical imaging modalities to boost clinical outcomes. A rise in discretionary spending in healthcare combined with a fast developing healthcare infrastructure have offered fillip to the market. Furthermore, the presence of a huge pool of patients in emerging nations of Asia Pacific offer great opportunities for the market players.

How will technological advancements and enhancements shape the competitive landscape? 

Prominent players operating in the global optical imaging market are Bioptigen, Inc., Canon, Inc., Carl Zeiss AG, Headwall Photonics, Inc., Heidelberg Engineering GmbH, Michelson Diagnostics Ltd., Optovue, Inc., Topcon Medical Systems, Inc., ChemImage Corporation, and St. Jude Medical, Inc. The key players focus on product innovations and technological enhancements to stay competitive in the market.  Increased penetration of digital optical technology and automation in healthcare are key developments expected to unlock exciting growth opportunities for these market players. Some large players also focus on filing new patent applications in medical imaging technology related to diagnosis of different types of cancer, such as prostate cancer, which will open new vistas of applications of optical imaging technology. 

Over time, increased automation in optical technology and the design of high-resolution cameras are expected to offer surgeon with a more comprehensive and clearer view of the tissues they are operating. As a result, the advancements in optical imaging technology will boost clinical outcomes. 

Global Antimicrobial Packaging Market: Rising Awareness Regarding Plastic’s Detrimental Effects on Health to Compel Consumers to Favor Substitutes

Antimicrobial packaging, a variety of controlled release and active packaging, primarily acts by killing the pathogenic microorganisms affecting the product that is packed, thereby increasing its workable or shelf life. The global food industry is presently struggling to provide for a constantly rising global population amid constantly shrinking areas of arable land and uneven rainfalls. This, combined with issues such as quality maintenance, food preservation, and food safety make antimicrobial packaging an apt technology for present times.

Transparency Market Research estimates that the global antimicrobial packaging market will expand at a promising 5.6% CAGR from 2016 to 2024, rising from a valuation of US$7.65 bn in 2015 to US$11.88 bn by 2024.

In this blog post, TMR analysts elucidate some of the key aspects of the global antimicrobial packaging market:

Which area of application of antimicrobial packaging earns the market the most promising returns?
Antimicrobial packaging find applications across industries such as food and beverages, healthcare, and personal care. Of these, the food and beverages industry has remained the largest user of a variety of antimicrobial package types in the past few years. The vast rise in the prevalence of waterborne and foodborne diseases, rising public awareness regarding the scarcity of food, and rising prices of food products have all collectively increased the need and overall public attempts aimed at avoiding the wastage of food.

Consumers, especially belonging to the working class demographic, also tend to stock certain food and beverage varieties, spices, mixes, and condiments. As a result, the need for packaging food products in a way that will extend the shelf life of consumable products is huge. This need is intensified in today's era owing to the busy lives of working individuals and the increased consumption of ready-to-eat packaged food products.

Which is the most popular material used for manufacturing antimicrobial packaging?

A variety of materials are commonly used for manufacturing antimicrobial packaging products, including biopolymers, paperboards, tin, and plastic. Of these, plastics have remained at the forefront for several decades, chiefly owing to its low cost and high flexibility when it comes to molding into desired shape and mixing with a desired antimicrobial agent or other packaging materials. The mechanical, physical, and chemical superiority of plastic over other common packaging material also make it extremely common across a vast range of packaging product varieties.

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In 2015, plastics accounted for over 30% of the overall antimicrobial packaging market and is expected to account for a significant share of the market in the next few years as well. However, the rising awareness regarding the severe damage caused due to the non-biodegradable nature of plastic on the environment is bringing about a slow but steady change in this trend. Although plastic is presently the most used material in antimicrobial packaging., it is gradually being replaced with materials such as paper board and glass also as plastic has many toxic properties, which could lead to contamination of the products in the packaging. 

Increasing Spending Power of Consumers to Stir up Growth of Asia Pacific Footwear Market

Since footwear have become an indispensable part of daily life, the growing population is the foremost factor augmenting the Asia Pacific footwear market. The changing lifestyles and rising disposable income are translating into the greater uptake of athletic and non-athletic footwear. The increasing fashion consciousness and the advancements in footwear technology are providing a fillip to the market.

However, the dynamic nature of fashion is a major challenge for manufacturers in the market. Moreover, domestic players are adopting innovative marketing strategies in the form of aggressive price discounts to address inventory issues, which in turn is adversely affecting the overall revenue generation of the market. The increasing sales of pirated footwear are also inhibiting the growth of the market. According to a report by Transparency Market Research (TMR), the valuation of the Asia Pacific footwear market is estimated to be US$64.2 bn by the end of 2020, progressing at a CAGR of 2.0% from 2014 to 2020.

Which regions will be the major destinations for manufacturers in the Asia Pacific footwear market?

China will be the leading revenue generator in the Asia Pacific footwear market throughout the forecast period, closely trailed by India and Japan. The growth of the region can be largely attributed to the rising spending power of consumers, improving economic conditions and increasing fashion consciousness among people. The growing number of sports event at national and international levels, increasing media exposure, and rising awareness regarding the benefits of active and healthy lifestyles are promoting the uptake of athletic footwear.

India is expected to register robust growth during the same span owing to the rapid development of the economy. Various studies indicate that the average expenditure on footwear is low as compared to other emerging countries. Thus, the manufacturers are increasingly focusing on innovative marketing strategies to add low-cost new athletic and non-athletic products to its portfolio in order to get a good response in the country. The rising penetration of foreign players, expanding e-commerce sector along with the introduction of secure online purchase systems, rapid urbanization, and increasing retail activities are some of the key factors contributing to the growth of the region.

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How are international trade treaties affecting the growth of the Asia Pacific footwear market?

As on 23rd January 2017, the exit of the U.S. from the Trans-Pacific Partnership (TPP) are likely to compel many multinational players with investments in Asia Pacific to reassess strategies. This step by the U.S. President Donald Trump could be a blow for giants such as Nike, which was among the leading footwear manufacturer in Asia Pacific too. Analysts predict that the backing out of the U.S. could actually help China in escalating its trade across the region. However, the long-term implications of this action will only unfold with the passage of time.

Some other prominent players operating in the Asia Pacific footwear market are ANTA Sports Products Ltd., ABC-Mart Inc., Li Ning Co Ltd., Bata India Ltd., Asics Corp., Yue Yuen Industrial (Holdings) Ltd., and Pou Chen.

Rising Trend of Fashion Eyewear to Provide Major Boosts to Leading Eyewear Brands

The global eyewear market has shown strong growth in the past few years bolstered by the rising incidence of vision disorders around the world. With consumers around the world becoming increasingly aware about the importance of eye check, in the future years analysts expect the demand for eyewear to surge at an exponential pace. Moreover, with an increasing number of players foraying, the market will witness a considerable expansion of the existing product portfolio. This trend will also accelerate growth for some of the existing players besides the overall eyewear market.

According to Transparency Market Research, the global eyewear market stood at US$81 bn in 2011 and is expected to reach US$130 bn by the end of 2018. If these figures hold true, the global eyewear market will report a moderate CAGR of 3.70% between 2012 and 2018. 

Q: Which product segment will showcase most lucrative opportunities for the market?

A: The global eyewear market is significantly gaining from the increasing disposable income of consumers across the globe. Besides this, the high renewal rate of lenses is also a chief driver of the market. With the expansion of wearer base and the increasing incidence of eye disorders, the global eyewear market is expected to showcase considerable growth in the near future. On the downside, the rise in number of refractive surgeries around the world pose threat to the market. Nevertheless, due to the growing population with uncorrected vision, the leading market players are likely to witness accelerated pace of growth in the near future. 

Among the various product types available, the spectacles segment is expected to generate higher revenue for the global eyewear market. In 2011, it also emerged as the dominant segment and is forecast to remain at the lead through the next few years. The growth witnessed in the spectacles segment is ascribable to the rising number of consumers in the eyewear industry. In addition, the segment will witness accelerated pace of gains as spectacles emerge as popular fashion accessories. 

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For instance, aviator, tortoise shell, or cat eye glass have been the favorite of the season. To capitalize on the same, leading brands such as Ray-Ban and Burberry have launched a flurry of new designs in their glasses. 

Q: What factors will encourage market’s growth in leading regions?

A: Regionally, North America dominated the global eyewear market with a share of 30% in 2012. Experts predict this region to continue leading the market throughout the next few years, thanks to the increasing demand for sunglasses and contact lenses. In addition, Asia Pacific is also forecast to exhibit lucrative opportunities for the market as leading players focus more on advertising campaigns and marketing activities in the region. As per TMR, the eyewear market in Asia Pacific is expected to report a CAGR of 9% between 2012 and 2018. 

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