Categoria: Automotive Industry

IMARC Group’s report titled “Automotive Refinish Coatings Market Report by Resin Type (Polyurethane, Alkyd, Acrylic, and Others), Product Type (Primer, Basecoat, Activator, Filler, Topcoat, and Others), Technology (Solvent-Borne, Water-Borne, UV-Cured), Vehicle Type (Passenger Cars, Commercial Vehicles, and Others), and Region 2024-2032“. The global automotive refinish coatings market size reached US$ 10.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 14.9 Billion by 2032, exhibiting a growth rate (CAGR) of 3.8% during 2024-2032.

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Factors Affecting the Growth of the Automotive Refinish Coatings Industry:

• Technological Advancements in Coating Materials:

Modern refinish coatings are incorporated with advanced technologies that offer superior durability, color matching, and faster drying times. Innovations in waterborne and high-solid coatings are gaining traction due to their environmental benefits, meeting the stricter volatile organic compounds (VOC) regulations in many countries. These advanced coatings provide a high-quality finish while reducing the environmental impact, aligning with the shift towards sustainability. Moreover, the development of coatings that can resist extreme weather conditions and protect against ultraviolet (UV) radiation, corrosion, and scratches is propelling the market growth. This technological progression not only improves product quality but also enhances operational efficiency for body shops.

• Rising Demand for Customization and Vehicle Aesthetics:

The increasing trend of vehicle customization, which reflects individual styles and preferences is contributing to the market growth. This extends beyond simple paint jobs to intricate designs, unique color schemes, and special finishes, creating a robust demand for high-quality and diverse refinish coatings. Additionally, the rising participation in automotive events and car shows, where vehicle appearance plays a crucial role, is supporting the market growth. Individuals are becoming more inclined towards maintaining the visual appeal of their vehicles, driving the need for advanced refinishing solutions. This trend is not limited to personal vehicles but is also seen in commercial fleets, where businesses use vehicle aesthetics as a part of their branding strategy.

• Adoption of Advanced Color-Matching Technologies:

The increasing adoption of advanced color-matching technologies is bolstering the market growth. As the variety of car colors and finishes increases, achieving an exact match during the refinishing process becomes more challenging. The industry is leveraging sophisticated color-matching tools and software, which use spectrophotometers and advanced algorithms to ensure a perfect match with the original paint. This technology not only enhances user satisfaction by providing seamless repair work but also increases efficiency and reduces material waste in auto body shops. The integration of these digital tools is becoming a standard in the industry, reflecting the growing importance of precision and quality in automotive refinishing.

Leading Companies Operating in the Global Automotive Refinish Coatings Industry:

• 3M Co.
• Akzo Nobel N.V
• Axalta Coating Systems
• BASF SE
• Clariant AG
• DuPont de Nemours, Inc.
• Kansai Paint Co.Ltd.
• KCC Co., Ltd.
• Nippon Paint Holdings Co., Ltd.
• PPG Industries, Inc.,
• The Sherwin-Williams Company

Automotive Refinish Coatings Market Report Segmentation:

By Resin Type:

• Polyurethane
• Alkyd
• Acrylic
• Others

Polyurethane exhibits a clear dominance in the market due to its exceptional durability and versatility.

By Product Type:

• Primer
• Basecoat
• Activator
• Filler
• Topcoat
• Others

Basecoat represents the largest segment as it plays a pivotal role in achieving the desired color and finish in automotive refinishing.

By Technology:

• Solvent-borne
• Water-borne
• UV-cured

Solvent-borne holds the biggest market share, attributed to its established performance and compatibility with existing systems.

By Vehicle Type:

• Passenger Cars
• Commercial Vehicles
• Others

Passenger cars account for the majority of the market share, owing to the widespread usage of these vehicles.

Regional Insights:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

Asia Pacific dominates the market, driven by the technological advancements in improving the functionalities of automotive refinish coatings.

Global Automotive Refinish Coatings Market Trends:

The growing advancement in coating application techniques is offering a favorable market outlook. The introduction of advanced spray guns and automated painting systems is enhancing the efficiency and precision of the coating process. These technologies allow for more uniform application, minimizing waste and reducing the time required for refinishing tasks. The integration of digital color-matching tools is also enabling perfect color replication and consistency. These technological developments not only improve the quality and aesthetics of refinished vehicles but also align with the increasing demand for time-efficient and cost-effective repair solutions in the automotive industry.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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IMARC Group, a leading market research company, has recently releases report titled “Pickup Truck Market by Fuel Type (Diesel, Petrol, Electric, and Other), Vehicle Type (Light-Duty, Heavy-Duty), Application (Individual Use, Commercial Use), and Region 2023-2028” The study provides a detailed analysis of the industry, including the global pickup truck market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the pickup truck market?

The global pickup truck market size reached US$ 202.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 238.6 Billion by 2028, exhibiting a growth rate (CAGR) of 2.6% during 2023-2028.

What is a pickup truck?

A pickup truck is a light-duty motorized vehicle with two axles equipped with an enclosed cabin and a back end of a shipment bed encircled by three low walls with no roof. It also has a rearward gate that opens outward, allowing for easy loading and unloading of goods. It is also employed for hauling and towing carriages and transporting items. In addition, it offers advantages such as easy maintenance, high horsepower, torque, and greater capacity. Moreover, it has enormous cargo spaces, making it ideal for numerous commercial uses such as warehouses and distribution centers to transport and deliver goods. As a result, pickup trucks are widely adopted for personal and commercial use across the globe.

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What are the growth prospects and trends in the pickup truck industry?

The market is primarily driven by the growing preference for small-size utility trucks due to their compact sizes, better mobility, and affordability. In addition, the escalating demand for pickup trucks due to rapid urbanization, increasing disposable income, and the increasing popularity of off-roading events and participation in recreational activities and adventure sports are contributing to the market growth. In line with this, the significant expansion in the travel and tourism industry due to the easy availability of pickup truck rental services in tourist destinations is influencing the market growth. Moreover, the widespread adoption of electric and battery-operated pickup trucks to reduce carbon (CO₂) emissions due to the growing demand for fuel-efficient and high-performance vehicles and the increasing awareness regarding the economic and ecological benefits of electric pickup trucks due to the rising prices of petrol represents other major growth-inducing factors.

Besides this, the increasing demand for hybrid light-duty pickup trucks due to their benefits, such as improved mileage, light materials, small engines, and regenerative braking systems, is accelerating the product adoption rate. Apart from this, the pickup truck market is growing at different rates in numerous regions, with North America being the largest market due to increasing demand for fuel-efficient vehicles, incorporation of advanced safety features, and favorable government policies to use electric vehicles (EVs) across the regions. Moreover, the industry is expected to face competition in the upcoming years as numerous key players are implementing competitive strategies to sustain their presence in the market. For instance, in June 2021, Ford Motor introduced a new compact truck called Maverick. This model offers great value and is equipped with a standard 2.5L full hybrid engine or an optional 2.0L EcoBoost engine while featuring a 4G LTE Wi-Fi hotspot and an eight-inch Bluetooth display.

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What is included in market segmentation?

The report has segmented the market into the following categories:

Fuel Type Insights:

• Diesel
• Petrol
• Electric
• Other

Vehicle Type Insights:

• Light-Duty
• Heavy-Duty

Application Insights:

• Individual Use
• Commercial Use

Breakup by Region:

North America (U.S. Canada)

Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)

Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)

Latin America (Brazil, Mexico)

Middle East Africa

Who are the key players operating in the industry?

The report covers the major market players including:

• Ashok Leyland Ltd.
• Ford Motor Company
• General Motors Company
• Great Wall Motors
• Isuzu Motors Limited
• Mahindra Mahindra Ltd
• Mitsubishi Motors Corporation
• Tata Motors Limited
• Toyota Motor Corporation
• Volkswagen AG.

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About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC Group’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact US

IMARC Group

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USA: +1-631-791-1145 | Asia: +91-120-433-0800

Email: sales@imarcgroup.com

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IMARC Group, a leading market research company, has recently releases report titled Automated Fare Collection Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026 The study provides a detailed analysis of the industry, including the global automated fare collection market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the automated fare collection market?

The global automated fare collection market reached a value of US$ 6.3 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 11.4% during 2021-2026.

What is an automated fare collection?

The automatic fare collection (AFC) refers to a ticketing system used in public transport and enables the payment for a fare through vending machines and online services. It consists of depot/station computers, central clearing house, fare media, back-office systems, and devices to read/write media. AFC systems conduct reliable, integrated and accurate fare collection to maintain a smooth passenger flow at peak hours. They offer various benefits, including reduced fraud chances, decreased cash payments, low investment costs, and a seamless customer experience.

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What are the growth prospects and trends in the automated fare collection industry?

The growing need for an integrated system for ticketing in public transport networks is primarily fueling the global AFC market growth. The increasing establishment of smart city projects across the globe is further escalating demand for efficient AFC systems. Besides this, the rising requirement for an interoperable fare management system in multi-operator public transports is driving the market growth. Moreover, the increasing utilization of contactless bank cards, particularly in developing nations, is creating a positive outlook for the AFC market.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Component:

• Hardware
• Software and Services

Breakup by System Type:

• Ticket Vending Machine (TVM)
• Ticket Office Machine (TOM)
• Fare Gates
• IC Cards

Breakup by Technology:

• Smart Card
• Magnetic Stripe
• Near Field Communication (NFC)
• Others

Breakup by Application:

• Railways and Transportation
• Parking
• Entertainment
• Others

Breakup by Region:

• North America (U.S. Canada)
• Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
• Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
• Latin America (Brazil, Mexico)
• Middle East Africa

Who are the key players operating in the industry?

The report covers the major market players including:

• Advanced Card Systems Limited (HNA Technology Investments Holdings)
• Atos SE
• Cubic Corporation
• Indra Sistemas SA
• Nippon Signal Co. Ltd.
• NXP Semiconductors N.V.
• Omron Corporation
• Scheidt Bachmann GmbH
• Siemens AG, Sony Corporation
• STMicroelectronics
• Thales Group

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About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC Groups information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.

Contact US

IMARC Group

134 N 4th St. Brooklyn, NY 11249, USA

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IMARC Group, a leading market research company, has recently releases report titled “Two-Wheeler Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global two-wheeler market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the two-wheeler market?

Report Attributes	Details
Market Size in 2022	US$ 121.5 Billion
Market Forecast in 2028	US$ 181.6 Billion
Growth rate (2023 to 2028)	CAGR of 7.00%
Base Year of the Analysis	2022
Forecast Period	2023-2028

What is a two-wheeler?

Two-wheelers, such as motorcycles, mopeds, and scooters, are fuel or electric-powered vehicles used to commute in short distances. They are an attractive mode of transportation that help reduce reliance on public transit systems. They offer a variety of features and capabilities, including long-distance touring, off-road riding, and racing. They are more maneuverable and agile as compared to larger vehicles and facilitate better fuel efficiency and cost-effectiveness. Two-wheelers are equipped with different fuel sources, such as gasoline, petrol, diesel, liquified petroleum gas (LPG), and batteries.

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What are the growth prospects and trends in the two-wheeler industry?

At present, the rising trend of personal vehicle ownership and escalating demand for affordable and quick commute options with last-mile connectivity represent one of the key factors positively influencing the market. In addition, key market players are introducing customized vehicles for all age groups. This, coupled with the expansion of the e-commerce sector and the widespread utilization of electric two-wheelers by logistics companies for providing convenient and quick delivery services, is propelling the growth of the market. Apart from this, government agencies are extensively promoting the adoption of electric and hybrid two-wheelers through incentives and supportive policies. This, in confluence with rising environmental concerns, is creating a favorable market outlook. Furthermore, the rising affordability and increasing accessibility of two-wheelers are stimulating the market growth worldwide.

What is included in market segmentation?

The report has segmented the market into the following categories:

Type Insights

• Scooters
• Mopeds
• Motorcycle
• Electric Two-Wheeler

Technology Insights

• ICE
• Electric

Transmission Insights

• Manual
• Automatic

Engine Capacity Insights

• 100cc
• 100-125cc
• 126-180cc
• 181-250cc
• 251-500cc
• 501-800cc
• 801-1600cc
• 1600cc

Fuel Type Insights

• Gasoline
• Petrol
• Diesel
• LPG/CNG
• Battery

End-User Insights

• Personal
• Commercial

Distribution Channel Insights

• Offline Channels
• Online Channels

Breakup by Region:

• North America (U.S. Canada)
• Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
• Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
• Latin America (Brazil, Mexico)
• Middle East Africa

Who are the key players operating in the industry?

The report covers the major market players including:

• Harley Davidson
• Hero MotoCorp Ltd.
• Honda Motor Co., Ltd.
• Suzuki Motor Corporation
• Yamaha Motor Co., Ltd.

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If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC Group’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact US

IMARC Group

134 N 4th St. Brooklyn, NY 11249, USA

USA: +1-631-791-1145 | Asia: +91-120-433-0800

Email: sales@imarcgroup.com

Follow us on Twitter: @imarcglobal

LinkedIn: https://www.linkedin.com/company/imarc-group/mycompany/