#Electric Motor Market Analysis

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Electric Motor Market Trends Forecast and Industry Analysis to 2034

The Electric Motor Market: Trends, Challenges, and Opportunities

Electric Motors are integral to countless applications, powering everything from household appliances to industrial machinery. As the world increasingly shifts towards sustainable energy solutions, the Electric Motor Market is witnessing significant growth. This blog explores the current trends, challenges, and opportunities in the electric motor market, providing insights into its future trajectory.

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Current Market Landscape

The Electric Motor market is predicted to develop at a compound annual growth rate (CAGR) of 7.4% from 2024 to 2034, when it is projected to reach USD 465.18 Billion, based on an average growth pattern. The market is estimated to reach a value of USD 227.81 Billion in 2024.

Key Trends in the Electric Motor Market

Rising Demand for Energy Efficiency

As energy costs rise and environmental concerns become more pressing, industries are increasingly focusing on energy-efficient solutions. Electric motors are often more efficient than their combustion counterparts, leading to lower energy consumption and reduced greenhouse gas emissions.

Growth of Electric Vehicles (EVs)

The electric vehicle revolution is a game-changer for the electric motor market. With governments worldwide pushing for cleaner transportation solutions, the demand for high-performance electric motors has surged. Innovations in motor technology, such as permanent magnet synchronous motors (PMSMs), are paving the way for more efficient and powerful electric drivetrains.

Industrial Automation

The push for automation in manufacturing and logistics is driving demand for electric motors. These motors are essential in robotics, conveyor systems, and other automated solutions, contributing to increased productivity and operational efficiency.

Technological Advancements

Continuous advancements in technology are enhancing the performance of electric motors. Innovations such as smart motors, which integrate IoT capabilities, enable real-time monitoring and predictive maintenance, further improving efficiency and reliability.

Growing Renewable Energy Sector

The rise of renewable energy sources, particularly wind and solar power, is increasing the demand for electric motors in applications like wind turbines and solar tracking systems. As these sectors expand, they will further boost the electric motor market.

Challenges Facing the Electric Motor Market

Despite the positive outlook, the electric motor market faces several challenges:

High Initial Costs

The initial investment for electric motor systems can be high, particularly for advanced technologies. This cost can deter businesses from making the switch from traditional motors, especially in industries with tight budgets.

Supply Chain Disruptions

Global supply chain issues have affected various industries, including electric motors. Shortages in critical components, such as semiconductors and rare earth materials used in permanent magnets, can lead to production delays and increased costs.

Competition from Alternative Technologies

While electric motors are popular, other technologies, such as fuel cells and hybrid systems, present competition. These alternatives may offer benefits in specific applications, leading to a fragmented market.

Skilled Labor Shortages

The need for skilled technicians and engineers in the electric motor sector is growing, yet many regions face a shortage of qualified personnel. This gap can hinder the development and deployment of advanced motor technologies.

Opportunities for Growth

The electric motor market is ripe with opportunities for businesses willing to innovate and adapt:

Expansion into Emerging Markets

Developing economies are investing heavily in infrastructure and industrialization, creating significant opportunities for electric motor manufacturers. As these markets grow, so will the demand for efficient and reliable electric motors.

Focus on Sustainability

Companies that prioritize sustainability and energy efficiency can gain a competitive edge. Developing eco-friendly motor technologies and promoting sustainable practices will resonate with environmentally conscious consumers and businesses.

Partnerships and Collaborations

Collaborations between electric motor manufacturers, technology firms, and research institutions can accelerate innovation. These partnerships can lead to the development of advanced products that meet the evolving needs of various industries.

Customization and Niche Markets

There is a growing demand for customized electric motor solutions tailored to specific applications. Companies that can offer specialized products for niche markets such as medical equipment or aerospace will find lucrative opportunities.

Investment in Research and Development

Investing in R&D will enable manufacturers to stay ahead of technological trends and develop cutting-edge products. This focus on innovation will be crucial for maintaining a competitive advantage in the rapidly evolving market.

Conclusion

The electric motor market is poised for significant growth, driven by trends in energy efficiency, electric vehicles, and industrial automation. While challenges exist, the opportunities for innovation and expansion are substantial. Companies that embrace these changes and invest in sustainable technologies will likely emerge as leaders in the electric motor market, contributing to a more efficient and eco-friendly future.

[ragini-14]

Automotive Electric Motor Market 2024 is Blossoming Worldwide by 2030

The Automotive Electric Motor Market Research Report 2024 begins with an overview of the market and offers throughout development. It presents a comprehensive analysis of all the regional and major player segments that gives closer insights upon present market conditions and future market opportunities along with drivers, trending segments, consumer behaviour, pricing factors and market performance and estimation and prices as well as global predominant vendor’s information. The forecast market information, SWOT analysis, Automotive Electric Motor Market scenario, and feasibility study are the vital aspects analysed in this report.

The automotive electric motor market is expected to grow at a 6.5% CAGR from 106.3 USD Billion in 2023 to 182.7 USD Billion in 2030.

Access Full Report:

https://exactitudeconsultancy.com/reports/15567/automotive-electric-motor-market/

[electronicseranews]

Motor Lamination Market is Driven by Surging Vehicle Sales

The motor lamination market is estimated to touch USD 22.9 billion in 2023, which will increase to USD 32.0 billion, with a 4.9% compound annual growth rate, by 2030.

The progression of this industry is because of the rising sale of automobiles, particularly those employing electricity as the secondary or primary propulsion source, across the globe. Furthermore, automobile, as well as equipment safety standards, are increasing, which is further boosting the requirement for motor laminations.

Additionally, to reduce operational duration and decrease fabrication expenses, lamination sheets have experienced different variations with time. The significant advancement in lamination technologies to improve the performance of motors is essentially likely to boost the industry in the coming years.

The bonding category, based on technology, will propel at the fastest rate, of 5.3%, during this decade. This is because it removes the necessity for magnetic core rivet joints to lessen interlaminar loss.

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Moreover, bonded cores don’t create hum sound, because of their exceptional thermal conductivity. Also, this technology is extensively employed because of its flexibility for personalized necessities.

Whereas, the welding category is also advancing at a significant rate, because of the employment of this procedure to manufacture strong and durable motors, by incorporating laminations together. Welding provides stronger efficiency, cost-effectiveness, and production to electric motors, the requirement for which is rising in practically every sector.

The silicon steel category, based on material type, is the largest contributor to the motor lamination market, with a 35% share. This is because it enhances the electrical resistivity, which means that it reduces the loss of current as well as decreases the conductivity.

The automotive category, based on industry, is the highest revenue contributor. This is because of the increasing need for comfortable and luxury automobiles with features like power steering & windows, retractable sunroofs, and HVAC equipment.

APAC is leading the industry, and it is further expected to remain leading, generating USD 10.3 billion, by 2030. This will be primarily because of the surge in the production of electric vehicles.

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[autoini]

Nissan and Honda Explore Business Integration with MOU

December 23, 2024 – Nissan Motor Co. and Honda Motor Co. announced a Memorandum of Understanding (MOU) to explore merging their businesses. This strategic move aims to strengthen their position in the rapidly changing automotive industry, focusing on electric and autonomous vehicle technologies.

Key Highlights

Strategic Collaboration: The MOU marks the start of discussions to combine their strengths and tackle challenges like electrification and advanced mobility.

Focus Areas: Both companies aim to accelerate development in electric vehicles, self-driving technologies, and connected car systems.

Market Competitiveness: A potential merger would create a stronger entity to compete with new industry players and technology firms.

Operational Synergies: Shared research, manufacturing, and supply chains could reduce costs and improve efficiency.

Timeline: Detailed discussions and analysis will follow, including regulatory approvals and stakeholder consultations.

Industry Impact

If successful, this merger could reshape the automotive industry by:

Accelerating Innovation: Faster development of electric and autonomous vehicles.

Expanding Global Reach: Better access to emerging markets and a wider customer base.

Improving Financial Strength: Shared investments and streamlined operations.

Next Steps

Nissan and Honda will conduct due diligence, engage stakeholders, and consider regulatory requirements before making final decisions.

Conclusion

This potential partnership reflects the need for collaboration in the evolving automotive world. By joining forces, Nissan and Honda could lead the charge in sustainable, intelligent mobility solutions.

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[allresearch]

Global Used Car Market: Comprehensive Market Insights

Global Used Car Market: Comprehensive Market Insights

The global used car market represents a dynamic and rapidly expanding segment of the automotive industry. According to Straits Research, the market was valued at USD 1747.95 billion in 2024 and is expected to grow dramatically, reaching USD 4338.97 billion by 2033 with a robust CAGR of 10.63% during the forecast period. A used car is defined as a previously driven vehicle that remains functional and is intended for resale, offering an affordable alternative to new car purchases.

Download Free Sample Report: https://straitsresearch.com/report/used-car-market/request-sample

Market Categorization

Vehicle Type Segmentation

Hatchback

Sedan

SUV

Fuel Type Breakdown

Petrol: Dominates the market due to lower maintenance costs and better initial acceleration

Diesel

Others (Electric, Hybrid)

Distribution Channels

Franchised Dealers

Independent Dealers

Private Sales

Online Platforms

Offline Marketplaces

Market Segmentation: https://straitsresearch.com/report/used-car-market/segmentation

Geographic Market Overview

Regional Market Trends

RegionDominant CountriesKey CharacteristicsNorth AmericaUnited States, CanadaHigh adoption of online used car platformsAsia-PacificIndia, China, JapanGrowing millennial preference for affordable vehiclesEuropeGermany, UK, FranceStrong emphasis on certified pre-owned vehiclesMiddle East & AfricaUAE, South AfricaEmerging market with increasing used car demand

Top Market Players

Asbury Automotive Group Inc

Autonation Inc.

Big Boy Toyz Ltd.

Carmax Business Services LLC

Cars24 Services Private Limited

Group1 Automotive Inc.

Hendrick Automotive Group

Lithia Motors Inc.

Mahindra First Choice Wheels Ltd

Truecar Inc.

Key Operational Factors Driving Market Growth

Consumer Dynamics

Millennial Preference: Younger generations are more inclined to purchase pre-owned vehicles to reduce expenses

Economic Constraints: Rising new car prices push consumers towards used car markets

Technological Advancements: Online platforms making used car transactions more transparent and convenient

Market Influencers

COVID-19 Impact: Pandemic disrupted new car supply chains, increasing used car demand

Remote Work Trends: Changing lifestyle patterns affecting vehicle purchasing decisions

Affordable Mobility: Used cars providing cost-effective transportation solutions

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About Straits Research

Comprehensive Insights

Detailed Market Segmentation

Global and Regional Analysis

Extensive Competitive Landscape

Future Growth Projections

Technological and Consumer Trend Evaluation

The used car market continues to demonstrate remarkable resilience and growth potential, driven by economic factors, changing consumer preferences, and technological innovations. As affordability and flexibility become increasingly important, the market is poised for significant expansion in the coming years.

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Marine Parallel Hybrid Propulsion Market Size, Share, Overview Demand & Competitive Landscape by 2032

The global marine parallel hybrid propulsion market size stood at USD 0.90 billion in 2022. The market revenue is anticipated to increase from USD 1.03 billion in 2023 to USD 2.25 billion by 2030, registering a CAGR of 11.9% from 2023 to 2030.

Marine parallel hybrid propulsion systems encompass various vessels like leisure boats, tugs, wind energy ships, and high-speed passenger ferries. The market is expected to grow owing to increasing regulations aiming to reduce carbon emissions in the marine industry.

Fortune Business Insights™ shares this information in its report titled “Marine Parallel Hybrid Propulsion Market, 2023-2030.”

Informational Source:

List of Key Players Profiled in the Market Report

ABB Ltd. (Switzerland)

Rolls-Royce Holdings plc (U.K.)

Caterpillar Inc. (U.S.)

General Electric Company (U.S.)

Nidec Industrial Solutions (Italy)

MAN Energy Solutions (Germany)

Siemens AG (Germany)

Mitsubishi Heavy Industries, Ltd. (Japan)

Wärtsilä Oyj Abp (Finland)

Cummins Inc. (U.S.)

Segmentation

Surging Demand for Different Towing Activities Drives the Tugs & Barge Segment Growth

Based on ship type, the market is divided into tugs & barge, offshore vessel, fishing vessel, research and survey vessel, search and rescue vessel, patrol boats, passenger ship, recreational boats, and landing crafts. The tugs and barge segment holds the largest marine parallel hybrid propulsion market share, driven by their rapid adoption for towing or guiding large ships in small rivers.

Increasing Need for High Power Consumption for Heavy Shipments Fuele the 1,000 HP to 3,000 HP Segment Expansion

In terms of engine power rating, the market is classified into upto 150 HP, 150 to 500 HP, 500 HP to 1,000 HP, and 1,000 HP to 3,000 HP. The 1,000 HP to 3,000 HP segment leads the global market share due to the need for high power consumption in heavy shipments.

Growing Usage of IC Engines with Green Fuels Accelerated Segment Growth

On the basis of component, the market is segregated into IC engine, generator, power management system, battery, gearbox, and others. The IC engine segment dominates the global market, attributed to its increasing use with green fuels.

Rapid Innovations in Existing Fleet of Vessels with Retrofitting Propel Segment Growth

By installment, the segment is categorized into line fit and retro fit. The retro fit segment secured a dominant position in the global market. Rapid innovations in the existing fleet of vessels with the help of retrofitting are catalyzing segment growth.

Rapid Innovations in Motor Capacity to Manage High Loads Boosted the 200 KW to 400 KW Segment Growth

In terms of motor capacity, the market is segmented into upto 50 KW, 50 KW to 200 KW, and 200 KW to 400 KW. The 200 KW to 400 KW segment commanded the global market. Rapid innovations in motor capacity to manage high loads are augmenting the segment growth.

Report Coverage

The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.

Drivers and Restraints

Increasing Need for More Vessels to Ship Products Efficiently is Boosting Market Progress

The need for more vessels to facilitate efficient global product shipping due to increased international trade is predicted to drive market expansion. Operational management enhancement and logistic system analysis by shippers, retailers, and supply chain managers are propelling the marine parallel hybrid propulsion market growth.

However, integration challenges might hinder the demand for marine parallel hybrid propulsion systems in the future.

Regional Insights

Asia Pacific Augments Market Growth Owing to Increasing Ship Building Activities

Asia Pacific holds the largest market share. The region’s market development is attributed to increased shipbuilding activities in China, India, Japan, and others.

Market growth in North America is fueled by an increase in maritime vessels and a focus on R&D by various OEMs in integrating parallel hybrid propulsion systems.

Competitive Landscape

Increasing Focus on System Deployment in Ships by Companies to Stimulate Market Growth

Key market players are concentrating on deploying marine parallel hybrid propulsion systems in diverse ships, anticipated to drive market expansion. The market consists of prominent companies such as Rolls-Royce Holdings plc, Caterpillar Inc., General Electric Company, and others.

Key Industry Development

July 2023: Svitzer requested nine new tugboats from shipyards in China and Turkey. Med Marine, in response, will construct four escort class tugs at the Eregli Shipyard, deploying them in a Greek liquefied natural gas terminal.

[willyskristina]

Submersible Pumps Market

Submersible Pump Market Size, Share, Trends: Grundfos Holding A/S Leads

Increasing Adoption of Smart and IoT-Enabled Submersible Pumps

Market Overview:

The submersible pump market is expected to develop at a 6.2% CAGR from 2024 to 2031. The market's worth is predicted to increase from USD XX billion in 2024 to USD YY billion by 2031. Asia-Pacific has emerged as the leading region, owing to growing industrialisation, urbanisation, and increased investment in water and wastewater infrastructure. Key metrics include rising demand for effective water management solutions, increased acceptance in the oil and gas industry, and expanded applications in agriculture and construction. The market is expanding steadily because of the growing demand for dependable and energy-efficient pumping solutions across a variety of sectors. Submersible pumps provide several advantages over regular pumps, including increased efficiency, lower noise levels, and decreased maintenance requirements. The increased emphasis on sustainable water management methods, as well as the expansion of smart city projects, are accelerating market growth.

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Market Trends:

Smart and IoT-enabled pumps are becoming increasingly popular in the submersible pump sector. This trend stems from the requirement for real-time monitoring, predictive maintenance, and increased operational efficiency. Smart submersible pumps with sensors and communication features provide remote monitoring and control, resulting in preventive maintenance and reduced downtime. Major pump manufacturers are investing in intelligent pumping technologies that can work with current infrastructure and deliver useful data insights. The trend towards digitalisation in water management and industrial processes is likely to boost the use of smart submersible pumps in a variety of applications.

Market Segmentation:

The electric submersible pumps category has the biggest market share in the submersible pump industry. This supremacy is due to its dependability, efficiency, and adaptability for a variety of applications, such as water supply, wastewater management, and industrial operations. Electric submersible pumps have various advantages, including their small design, silent operation, and capacity to handle high flow rates and head pressures. Recent advances in motor and impeller design have increased the performance and efficiency of electric submersible pumps. According to our analysis, the electric submersible pump category will continue to dominate, rising at a CAGR of more than 6.5% between 2024 and 2031.

Market Key Players:

The submersible pump market is highly competitive, with major players focusing on technological innovation and strategic alliances. Key companies such as Grundfos Holding A/S, Xylem Inc., KSB Group, Sulzer Ltd., Ebara Corporation, The Weir Group PLC, Tsurumi Manufacturing Co., Ltd., Wilo SE, Flowserve Corporation, and Atlas Copco AB dominate the market.

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Name: Hari Krishna

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[skyjohn009]

Overview of the Current Sensor Market and its Key Drivers

Overview of the Current Sensor Market and its Key Drivers

The current sensor market is experiencing significant growth as industries increasingly focus on energy efficiency, automation, and electrical monitoring. Current sensors play a crucial role in measuring electrical current flow, ensuring the safety and performance of electrical systems, and enabling real-time monitoring in a variety of applications. These sensors are widely used in sectors such as automotive, industrial automation, power generation, consumer electronics, and renewable energy systems. With the rise of electric vehicles, smart grids, and IoT-enabled devices, the demand for precise and efficient current sensing solutions is expected to rise further.

Technological advancements, such as the development of compact, high-precision sensors with enhanced sensitivity and faster response times, are driving market innovation. Additionally, as industries move toward digitalization and more integrated systems, the need for accurate, reliable current measurement and monitoring solutions continues to expand, offering new opportunities for manufacturers and stakeholders in the current sensor market.

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Straits Research has released a new report, “Current Sensor Market,” which provides a comprehensive analysis of the global market. The report forecasts a significant growth trajectory for the market, with a CAGR of 6.6% from 2024 to 2032, driven by increasing demand across various end-use industries.

Market Definition

A current sensor is an electronic device that measures the electrical current flowing through a conductor without interrupting the circuit. It plays a crucial role in various applications, including motor control, power monitoring, and battery management systems.

Key Market Trends:

Miniaturization and Integration: The trend towards smaller and more integrated electronic devices is driving the demand for compact and highly integrated current sensors.

Advancements in Sensing Technology: Continuous advancements in sensing technologies, such as Hall Effect sensors and Rogowski coils, are leading to improved accuracy, sensitivity, and performance.

Growing Demand for Renewable Energy: The increasing adoption of renewable energy sources, such as solar and wind power, is driving the demand for accurate and reliable current sensors for grid integration and energy management.

IoT Integration: The integration of current sensors with the Internet of Things (IoT) is enabling real-time monitoring and control of electrical systems, leading to improved energy efficiency and predictive maintenance.

Market Segmentation:

The global Current Sensor Market is segmented based on type, sensing technology, and end-use:

By Type:

Open loop

Closed loop

By Sensing Technology:

Hall Effect

Current Transformer

Flux Gate

Rogowski Coil

By End-Use:

Automotive

Consumer Electronics

Industrial

Telecommunication

Others 

Growth Drivers:

Rapid Industrialization: The ongoing industrialization across emerging economies is driving the demand for automation and process control solutions, which rely heavily on current sensors.

Advancements in Electric Vehicles: The increasing adoption of electric vehicles (EVs) is creating a significant demand for high-performance current sensors for battery management systems and motor control.

Smart Grid Development: The development of smart grids is driving the need for accurate and reliable current sensors for real-time monitoring and control of power distribution.

Market Opportunities:

Development of High-Temperature Current Sensors: The development of high-temperature current sensors will expand their applications in harsh environments, such as industrial furnaces and power plants.

Integration with Artificial Intelligence (AI) and Machine Learning (ML): The integration of current sensors with AI and ML algorithms can enable predictive maintenance and optimize energy consumption.

Expansion in Emerging Markets: The growing demand for industrial automation and renewable energy in emerging markets presents significant growth opportunities for current sensor manufacturers.

Key Players:

Infineon Technologies

Honeywell International Inc.

Texas Instruments

Allegro MicroSystems, LLC

Tamura Corp.

TDK Corporation

LEM International SA

Pulse Electronics

Eaton Corporation PLC

Sensitec GmbH

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About Straits Research

Straits Research is a market intelligence and consulting organization that provides research and consulting services to clients across various industries.

[marketsndata]

Japan Smart Meter Market Analysis 2031

Japan has witnessed notable progress in its smart meter industry. The Japan Smart Meter Market is projected to reach USD 1.97 billion by FY2031 from USD 1.01 billion in FY2023 with a CAGR of 8.73%. The demand for smart meters in Japan is driven by several factors contributing to their growth in the market. These advanced devices offer real-time monitoring of electricity consumption, empowering consumers to optimize energy usage and reduce costs. The Japanese government’s initiatives to improve energy efficiency and integrate renewable energy sources have further promoted the adoption of smart meters. Additionally, the need for a more resilient and reliable energy system, especially in the face of natural disasters, has emphasized the importance of smart meters in enhancing energy resilience. Utility companies have actively deployed smart meters to benefit from better grid management and meet sustainability goals, making smart meters a crucial component of Japan’s energy landscape and thereby contributing to the increase in the adoption of smart meters.

Utility companies in Japan are leveraging advanced technologies in smart meters to enhance energy efficiency, enable real-time monitoring, and empower consumers to make informed decisions about electricity usage, leading to a more sustainable and cost-effective energy landscape. The Kansai Electric Power Co., Inc. (KEPCO) has taken a pioneering role in smart meter adoption, integrating Fujitsu’s cutting-edge communications technology. With over two million operational smart meters, this implementation streamlines operations offers value-added services, and positions KEPCO as a trailblazer in smart meter technology adoption in the region.

Rise in Initiatives by the Japanese Government

The Japanese government has been actively promoting smart meter installations in Japan’s Smart Meter Market through various initiatives. These efforts aim to modernize energy infrastructure, enhance energy efficiency, and implement demand response strategies, fostering a more sustainable and technologically advanced energy landscape. For example, The Tokyo Waterworks Bureau is conducting extensive pilot projects to deploy smart meters in about 6,000 households, the highest number in the country, for result verification. These projects involve collaboration between electricity and water suppliers, who collect data from their respective meters using a shared meter reading system. The goal is to gather hourly reading data not only for billing purposes but also to enable future monitoring and visualization services.

The Advent of Highly Advanced Services

The Japan Smart Meter Market is experiencing a demand for highly advanced services due to the benefits they offer. These include real-time energy monitoring, seamless integration of renewable energy sources, smart grid capabilities, and improved efficiency. These advanced services empower consumers to manage their energy consumption effectively, contribute to sustainability efforts, and enhance the overall reliability and resilience of Japan’s energy distribution system. For example, In February 2023, Mitsubishi Motors Corporation (MMC) and Kaluza, an energy software platform, joined forces to introduce Japan’s inaugural telematics-based smart charging service, aimed at achieving a more balanced grid network. This innovative service seeks to enhance the affordability and value of Electric Vehicles (EVs) while promoting a decarbonized energy system. Leveraging Kaluza’s expertise in smart charging from prior global deployments, the technology enables EVs to charge during low-demand periods, optimizing cost and reducing environmental impact by utilizing cheaper and greener energy sources. This approach also helps address network balancing challenges, making EV adoption and integration more sustainable and efficient.

Government Regulations

Japan to install 80 million smart meters by 2025. The Japan Smart Meter Market is influenced by government regulations that aim to improve energy efficiency and promote sustainable practices. These regulations mandate the deployment of smart meters, encouraging real-time energy monitoring and integration of renewable energy sources. The government’s support through incentives and initiatives drives utility companies and consumers toward adopting smart meters. Compliance with these regulations enhances grid management, reduces energy consumption, and contributes to the country’s sustainable energy goals.

For example, as per the Smart Meter Installation Plan, aligned with Japan’s Ministry of Economy, Trade, and Industry (METI) 2014 directive to liberalize the electricity market, the country embarked on a unique smart meter initiative. Unlike other nations, Japan’s approach was top-down, with substantial government involvement in driving smart utility development and deployment. The 4th Strategic Energy Plan mandated the installation of smart meters in all households and businesses by the early 2020s. Consequently, major electric power companies acted on this government mandate, successfully implementing smart meter installations across the nation.

Impact of COVID-19

The COVID-19 pandemic had significant effects on the Japan smart meter market. Before the pandemic, the market was steadily expanding, driven by government initiatives and increasing consumer awareness of smart meters’ benefits. However, the outbreak disrupted the market’s growth, causing project delays due to restrictions and economic uncertainties. Installation and deployment of smart meters were hindered, and consumer spending on energy management solutions slowed down. In the present post-COVID situation, the market is gradually recovering as restrictions ease and economic activities resume. With a renewed focus on resilient and sustainable energy systems, the smart meter market is expected to rebound, supported by government incentives and growing recognition of the advantages of optimizing energy usage and promoting environmental sustainability.

Japan Smart Meter Market: Report Scope

Markets and Data has recently released a report titled “Japan Smart Meter Market Assessment FY2017-FY2031F“. This comprehensive report thoroughly examines the existing state of the smart meter market in Japan, analyzing its dynamics and identifying potential growth opportunities. Covering the period from FY2017 to FY2031, the report includes detailed future projections. Moreover, it delves into the strategies, market positions, and competitive intelligence of key industry players, offering valuable insights for stakeholders and decision-makers in the field.

Click here for full report- https://www.marketsandata.com/industry-reports/japan-smart-meter-market

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[semiconductorsandelectronics]

Electric Vehicle Component Market: A Comprehensive Analysis

Countries around the world have set targets to reduce vehicle emissions by 2035. They have started promoting the development and sales of EVs and related charging infrastructure. For instance, according to the Natural Resources Defense Council, automotive companies in the US have announced US 210 billion in investments in the EV industry to promote EV infrastructure such as charging stations. Several governments are providing various incentives, such as low or zero registration fees and exemptions from import taxes, purchase taxes, and road taxes for the adoption of EVs. This will grow the electric vehicle components market in the future.

New entrants and major automobile manufacturers are investing heavily in electrification. EVs are being launched across the spectrum from compact cars to luxury SUVs and commercial vehicles. The competitive landscape encourages fast steps in performance, range, and affordability, and EVs are increasingly becoming an option for consumers worldwide.

Recent Trends in the Electric Vehicle Component Market

An electric vehicle, driven by one or more electric motors, draws upon stored energy in rechargeable batteries. Private and public charging infrastructure allows these vehicles to be charged. The four primary types of electric vehicles include battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), hybrid electric vehicles (HEVs), and fuel cell electric vehicles (FCEVs). Electric vehicle components are core parts that make electric vehicles operational. Major electric vehicle components include battery cells and packs, on-board chargers, motors, power control units, battery management systems, fuel cell stacks, and power conditioners. A few major players in the market include Tesla (US), BYD (China), Suzuki Motor Corporation (Japan), and BMW (Germany), among others.

Electric Vehicle Component Market Dynamics

The primary drivers for the electric vehicle and related components are the governmental initiatives for emissions reduction and efforts towards sustainable transport. More adoption of electric vehicles implies more demand for electric vehicle components. Growing prices of fossil fuels and more concern for the environment are leading consumers to EVs, thereby enhancing market growth. In addition, advancements in battery technology and development in charging infrastructure have increased the performance and accessibility of electric vehicles, which has consequently improved its appeal among consumers. Another factor is that the growing production of various types of electric models, including commercial and public transport, is raising high demand for all such electric vehicle components and boosting the market.

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End user of the Electric Vehicle Component Market

The end users of the electric vehicle component market include private and commercial fleets. The private use of electric passenger cars is on the rise, and this trend has been fueled by consumers' increased interest in the environment, cost, and new technologies that their vehicle purchases offer. The clean alternative of EVs, with zero tailpipe emissions and a much lower carbon footprint for personal transport, is an essential driver for many concerned buyers regarding climate change and air quality. Besides, EVs operate at cheaper operating costs with electricity-based fueling and lower maintenance expenses as the number of moving parts is relatively more minor. In commercial space, companies are increasingly turning to EVs to achieve cost savings, meet. It includes sustainability goals and harsher environmental regulations. Some examples of commerce industries in commercial space are logistics, public transportation, utilities, and the retail sector.

[autoandaero]

Walk-Behind Lawn Mower Market Report 

Walk-Behind Lawn Mower Market Report Outlook, Statistical Data & Forecast Analysis by 2031

Market Definition and Latest Trends

The walk-behind lawn mower market refers to the global market for lawn mowers that are designed to be pushed or walked behind while in operation. These lawn mowers are equipped with rotating blades that cut the grass to an even height. The market for walk-behind lawn mowers is driven by the increasing demand for efficient lawn maintenance solutions, growing residential and commercial construction, and rising consumer spending on outdoor living and gardening.

Market Size and Forecast

According to Straits Research, the global Walk-Behind Lawn Mower Market is set for substantial growth, projected to reach USD 15.07 Billion by 2031 at a robust CAGR of 5.41%. This growth is driven by advancements in technology and regional expansions that are reshaping the industry landscape. The report captures this momentum and explores the impact of these developments on global and regional markets specifically.

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Market Segmentation

The global walk-behind lawn mower market is segmented based on product, end-user, fuel type, blade type, drive type, start type, and distribution channel.

By Product

Self-Propelled

Push Lawn Mowers

Hover Mowers

Reel/Cylinder

By End-User

Residential

Professional Landscaping Services

Golf Courses and Other Sports Arenas

Government and Others

By Fuel Type

Gasoline-Powered

Electric Cordless

Electric Corded

Manual-Powered

Propane-Powered

By Blade Type

Standard Blades

Mulching Blades

Lifting Blades

Cylinder Blades

By Drive Type

RWD

FWD

AWD

Manual Drive

By Start Type

Key Start

Push Start

Recoil Start

No Start

By Distribution Channel

Offline

Online

Market Segmentation with Insights-Driven Strategy Guide: https://straitsresearch.com/report/walk-behind-lawn-mower-market/segmentation

Key Opportunity

The increasing demand for eco-friendly and sustainable lawn mowers is expected to create opportunities for manufacturers to develop innovative and environmentally friendly products.

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Key Players

Some of the key players operating in the global walk-behind lawn mower market include:

Deere & Company

Honda Motor Company

MTD Products

Husqvarna Group

Kubota Corporation

Robert Bosch

STIGA Group

Toro Company

AGCO

AL-KO Gardentech

To purchase the report: https://straitsresearch.com/buy-now/walk-behind-lawn-mower-market