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Car Rental Market To Garner A Double Digit Cagr, Rise Is Air Traffic To Boost Prospects

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The competitive landscape of the car rental market is moderately fragmented in nature. This is mainly due to the presence of several international and domestic players in the market. The increasing dominance of giant players in the market is dragging the market towards consolidation, says Transparency Market Research(TMR). Some of the prominent players operating in the car rental market are Enterprise Rent-A-Car, Sixt SE, Europcar, The Hertz Corporation and Avis Budget Group.

The players in the market are primarily focusing towards enhancing their services so as to improve their customer base and gain profitability in the market. Along with this, players are focusing towards acquisitions and mergers, business expansion and innovation to strengthen their market share.

For instance, in March 2019, Sixt SE, a prominent player in the car rental market launched a mobility app in order to facilitates customers with several other services and boost personalisation. In the same way, in December 2018, The Hertz Corporation, incopated the use of a online platform called the Hertz Fast Lane in their servies.  This platform helps in carry out and speed up the entire vehicle rental process with the help of a biometric.  

According to TMR, the global car rental market is projected to witness a astonishing double digit CAGR of 14.40% during the forecast period that between 2014–2024. The opportunities in the market is projected to touch a valuation of US$290.07 bn by 2024. 

On the basis of geography, North America is expected to dominate the global car rental market during the forecast period. This is mainly due to the presence of several veteran players in the region. Based on transportation mode,  the airport transport segment is expected to  hold sway in the overall market, thanks to the significant rise to the air traffic and  rapid strides taken by industrialization in several parts of the world. 

car rental marketIntegration of Advanced Technologies in Mobile Application to Drive Market Growth

The global car rental market is projected to garner a remarkable growth rate in the coming few years. This is mainly due to the factors such as global upsurge in travel and tourism activities coupled with improving road infrastructure. Along with this, rise in disposable incomes, surge in leisure and business trips and increasing investments by the global players are some other factors expected to fuel the car rental market in the coming few years.

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Car rentals are the car services offered by players to the common people for a particular time duration at an agreed amount. Integration of advanced technologies such as  real time monitoring, GPS and digital transaction are some other factors that played a crucial role in the growth of the car rental market. 

Advent of Ride Sharing Application to Hamper Market Prospects

The growth in the car rental market is hampered due to the advent of ride sharing application which help professions offer rise to other profession is expected to impede market growth. Along with this, stringent governmental regulation towards the vehicle emission is projected to curb market growth in the car rental market  in various developing and developed nations.

Nonetheless, increasing focus to incorporate eco-friendly, green car rental services is anticipated to fuel the car rental market in the coming few years.

The study presented here is based on a report by Transparency Market Research (TMR) titled “Car Rental Market (Car Type - Luxury Cars, Executive Cars, Economy Cars, SUVs, and MUVS; Category - Local Usage, Airport Transport, and Outstation) - Global Industry Analysis, Trend, Size, Share and Forecast 2014–2024”.

posted Feb 13 by anonymous

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The global market for automotive air filter consists of a large number of market players which explains the high degree of fragmentation within the market. A peculiar trait of the competitive landscape is the large market share held by the small market players. This is because the demand for air filters at local service stations is higher than the demand experienced by certified workshops or service centers. The small market players have attained a strong position in the market by maintaining a regular inflow of supplies to cater to the year-round demand. Furthermore, the sheer abundance of local service stations has given an impetus to the growth of the local players in recent times. There are minimal barriers to the entry of new market players which is expected to further fragment the global market.

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The global market for automotive air filter is estimated to expand at a steady CAGR of 3.5% over the period between 2018 and 2026, finds Transparency Market Research (TMR). Based on geography, the demand for automotive air filters is expected to escalate at a swift pace across Latin America.

Growth of Automotive Industry to Propel Demand 

The automotive industry has been expanding at an astral rate over the past decade which has boosted demand within the global market for automotive air filters. Furthermore, the collective impact of increasing vehicle fleet size and rising purchasing power of the masses has fortified the global market for automotive air filters. Moreover, environmental concerns have also necessitated the installation of better-performing air filters in automobiles. This factor, coupled with the regulations stipulated by the government, has accelerated the growth of the global market for automated air filters. Besides this, air filters ensure that the engine of automobiles is immune to external debris or dirt and the air-fuel mixture is maintained. Improper functioning or absence of air filters can affect the ignition system of vehicles which could in turn harm the engine. Owing to the aforementioned factors, the demand within the global automotive air filters market is expected to trace an upward graph over the coming years.

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Electric Vehicles could Hamper Market Growth 

The global carbon footprint has raised concerns about the protection of the environment and has led several industries to invent green ways to avert the abysmal situation. The automotive industry has been a huge contributor to the total carbon emissions, which has given birth to electric vehicles that do not require air filters. As electric vehicles gain popularity across the globe, the market for automotive air filter may suffer hindrances to growth.

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A new report by Transparency Market Research (TMR), discusses the vendor landscape of the Indian welding consumables market in much detail. It states that the market is witnessing immense competition among players both big and small, The leading companies operating in the India welding consumables market are Lincoln Electric, Voestalpine A G, ESAB, Honavar Electrodes, Ador Welding Limited, and D&H Sécheron, among others. The analysts from TMR have made an observation that there are several unorganized and small players of welding consumables in India which are expected to make a mark for themselves in the future.

As per TMR, the Indian welding consumables market will be worth INR 45.37 bn by 2020. On the basis of type of welding consumables, the demand for wires and fluxes is expected to be high on account of their high performance. They also have several benefits including suitability for outdoor work, use in automatic welding systems, low wastage, and high productivity. The flux cored wires segment is predicted to be the fastest growing segment in the years to come. By application, the automotive and transportation sector has been leading. However, it is the power sector which will expand at the fastest pace. Moderate growth is also forecasted for marine and wear plate applications.

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Flourishing Construction and Building Sector in India Behind Growth

As per the lead author of this market research report, the Indian welding consumables market is slated to be chiefly driven by the expanding building and construction industry. The significant increase in the investments in the energy sector as well as oil and gas sector is also bolstering the demand for welding consumables. Advancements in technology and innovations in the same will be key for widening the application area of welding consumables. Therefore players within the market are advised to focus on technological advancements and invest in R&D so as to create growth opportunities for themselves and the market overall.

As welding consumables have their applications across industries such as oil and gas, marine, power generation, construction and building, transportation, and automobile, their demand is witnessing a steady increase with the growth of these industries. In fact it can be said that the welding consumables market is highly dependent on consumption of steel by several industries.

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Presence of International Competition to Threaten Market Players within Indian Welding Consumables Market

The report not only discusses the various factors helping the Indian welding consumables market to grow but also focuses on the challenges faced by the market. one of the key factors posing a challenge for market players within the welding consumables market in India is the fluctuating raw material supply. Another important factor that has a negative bearing on the market for welding consumables in India is the presence of competition from foreign companies. Moreover, the shortage of skilled labor adds to the number of limiting factors that will restrain the market from reaching its fullest potential.


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The booming oncology research and rising cases of cancer, diabetes, and other cardiovascular diseases have created a sizeable demand for dedicated treatments, thereby driving the high potency active pharmaceutical ingredient (HPAPI) market. The HPAPI market stood at a valuation of US$2.64 bn in 2014. The cost containment strategies adopted by companies through outsourcing are favoring market growth.

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Oncology Drugs Show Maximum Demand

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Some of the leading players operating in the global high potency active pharmaceutical ingredient market are WuXi AppTec, Sigma-Aldrich Co. LLC, Pfizer, Inc., Sandoz International GmbH, Novasep, Lonza Group, Dr. Reddy's Laboratories, Cambrex Corporation, and Alkermes plc. The fragmented nature of this market will result in strategies to acquire and merge with regional players to gain the first-mover advantage.

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The global warranty management systems market has been analyzed on the basis of solutions, application, and regional distribution in this market study. Based on solution, the market is classified into software and services. The services segment leads the global market on account of the rising demand from OEMs. In 2013, the market segment accounted for around 79% of the global market. Analysts project it to maintain its dominance over the forecast period.

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By application, the report segments the global market for warranty management systems into the markets for industrial equipment, automotive, heavy machinery and equipment, defense and aerospace, HVAC, food and beverages, communication equipment, healthcare, furniture, office equipment, and apparel. The healthcare segment dominates the global market at present. It occupied a share of 21% in the overall market in 2013 and is projected to retain its leadership over the forecast period, as per the report.

The global market for warranty management systems is spread across Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa, states the research report. Among these, North America has emerged as the leading regional market. In 2013, the warranty management systems market in North America occupied almost 38% of the market across the globe. The increasing expenditure on warranty management systems in order to improve the quality of the products to meet consumers’ demand is attributed to the growth of the North America market for warranty management systems.

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Further, the report says that the Asia Pacific market for warranty management systems is likely to grow at a faster rate over the forecast period on account of the increasing demand for warranty management systems from various end users. With the rising number of production units of warranty management systems in Asia Pacific, this regional market is projected to rise at a CAGR of 16.50% during the forecast period.

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Doppelmayr/Garaventa Group

Doppelmayr/Garaventa Group was formed in 1893 by Konrad Doppelmayr and is headquartered in Wolfurt, Austria. The company is a global leader in ropeway engineering. The company’s product portfolio includes funicular railways, reversible aerial tramway, pulsed movement aerial ropeway, funifor, funitel, 3S gondola lift, combination lift, detachable gondola lift, detachable chairlift, fixed-grip chairlift, surface lift, cable liner, avalanche blasting ropeway, material ropeway, and monorack. Doppelmayr/Garaventa Group has manufacturing plants, and sales and service centers across 40 countries across the globe. The company has built over 15,000 installations of aerial cable cars for customers in close to 96 nations around the world. Doppelmayr/Garaventa Group has subsidiaries across North America, Europe, Asia Pacific, Middle East & Africa, and South America.

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Leitner Ropeways

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Global Aerial Cable Car Equipment Market: Dynamics

Rise in tourism across the world and increasing participation in winter sports driving the demand for ropeway/ aerial cable cars

According to global tourism industry body, World Travel & Tourism Council (WTTC), the global travel & tourism industry has grown from US$ 6.03 Trillion in 2006 and reached US$ 8.27 Trillion by 2017, expanding at a CAGR of 2.9%. Globally, rise in population of the middle class in emerging economies, increase in travel frequency of millennial population compared to other generations, and increased awareness among youth about travel destinations are increasing the market size of the global travel and tourism market. Winter sports in Europe and North America is seeing increasing participation. All these factors are increasing the demand for aerial cable cars or ropeways across these regions. Rise in demand for aerial cable cars in global travel and tourism industry is increasing the sale of aerial cable car equipment across the globe.

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