#Ghana Automobile Market trends
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Exploring the Ghana Automobile Market: Trends, Growth, and Opportunities
The Ghana Automobile Market is projected to be valued at USD 1.93 billion in 2024 and is anticipated to reach USD 2.08 billion by 2029, with a compound annual growth rate (CAGR) of 1.55% over the forecast period (2024-2029).
The Ghana automobile market is witnessing significant transformation, driven by a growing middle class, urbanization, and increasing demand for personal mobility solutions. While the industry has long been dominated by the importation of used vehicles, recent efforts by the government and private sector are steering the market toward greater local manufacturing and assembly of vehicles. This blog will explore the current state of the Ghana automobile market, the key factors driving its growth, emerging trends, and the opportunities that lie ahead for industry stakeholders.
1. Market Overview: Growing Demand for Vehicles in Ghana
The Ghana automobile market is characterized by high demand for both passenger and commercial vehicles, largely driven by the country’s expanding urban population, rising incomes, and improving road infrastructure. Accra, Kumasi, and other major cities are experiencing significant growth in vehicle ownership as more Ghanaians seek personal transport options.
Historically, the market has been dominated by the import of second-hand cars, commonly known as "grey imports," with a large percentage coming from the United States, Japan, and Europe. These vehicles, often more affordable than new cars, make up a substantial portion of the cars on Ghana’s roads. However, the government has introduced policies to encourage local vehicle assembly and the importation of newer, more environmentally friendly models.
2. Key Market Drivers
Urbanization and Middle-Class Growth: Ghana’s urban population is growing rapidly, contributing to an increased demand for vehicles as more people seek efficient transportation solutions in congested cities. The rising middle class, particularly in urban areas, is also playing a key role in driving demand for both new and used cars.
Government Initiatives to Boost Local Assembly: In an effort to reduce dependence on used car imports and boost industrialization, the Ghanaian government has implemented policies aimed at promoting local vehicle assembly. This includes the Ghana Automotive Development Policy, which offers tax incentives to companies that set up assembly plants in the country. Major global automakers, including Volkswagen, Nissan, and Toyota, have already begun establishing assembly plants in Ghana, marking a significant step toward developing a local automotive manufacturing industry.
Economic Growth and Infrastructure Development: Ghana's economy has been growing steadily, with investments in infrastructure, including road networks and public transport systems. These developments are improving access to remote regions and creating new opportunities for the automobile industry, particularly in the commercial vehicle segment.
Rise in Ride-Hailing and Commercial Transport: The expansion of ride-hailing services such as Uber and Bolt in Ghana is driving demand for fuel-efficient and reliable vehicles. These services are providing an alternative to traditional public transport and offering more Ghanaians access to affordable mobility solutions. As a result, the demand for compact cars and sedans suitable for ride-hailing has increased.
3. Challenges Facing the Ghana Automobile Market
High Dependence on Used Vehicles: Despite government efforts to promote new car sales and local assembly, the market remains heavily reliant on the import of used vehicles. These cars, while affordable, often come with environmental and safety concerns, as many do not meet modern emission standards and may require frequent maintenance.
Financing and Affordability Issues: Access to affordable financing options for vehicle purchases remains a challenge for many Ghanaians. High interest rates and limited access to credit have made it difficult for consumers to finance the purchase of new cars. This is one reason why used vehicles continue to dominate the market.
Inadequate After-Sales Services: The lack of reliable after-sales service infrastructure, including spare parts availability and repair centers, poses a challenge to the growth of the new car market. Consumers are often hesitant to purchase new or imported vehicles without the assurance of adequate servicing and parts replacement.
4. Emerging Trends in the Ghana Automobile Market
Electric Vehicle (EV) Potential: While electric vehicles are still in the early stages of adoption in Ghana, there is growing interest in the potential for EVs to become a key part of the market in the future. The government is exploring opportunities to introduce electric vehicle incentives as part of its broader commitment to reducing carbon emissions. With the right infrastructure, such as charging stations and government subsidies, EVs could present a viable alternative to traditional internal combustion engine vehicles, particularly in urban areas.
Shift Toward Local Manufacturing: The establishment of local vehicle assembly plants by international automakers represents a major shift in the market. These plants not only reduce the reliance on imported vehicles but also create jobs, contribute to the country’s industrialization goals, and support the development of a local supply chain. The presence of global players such as Volkswagen, Nissan, and Toyota is expected to increase competition, leading to more affordable and environmentally friendly vehicle options for consumers.
Increased Focus on Vehicle Safety and Emissions: With the government tightening regulations on vehicle emissions and safety standards, there is a growing emphasis on newer, safer, and more fuel-efficient vehicles. This trend is likely to encourage the adoption of newer models, particularly as the government phases out the importation of older, used vehicles that fail to meet emissions standards.
Rising Demand for Commercial Vehicles: As Ghana’s economy grows and urban centers expand, there is an increasing need for commercial vehicles such as buses, trucks, and delivery vans. The growth of e-commerce and logistics industries has further fueled demand for commercial vehicles that can support last-mile delivery and transport services.
5. Regional Insights: Accra Leads the Way
Accra, the capital of Ghana, is the largest market for automobiles in the country, with high demand for both passenger cars and commercial vehicles. The city’s fast-paced urbanization and expanding middle class have driven significant growth in vehicle ownership. Other major cities like Kumasi and Takoradi are also seeing increased demand for automobiles as infrastructure development progresses in these regions.
In rural areas, demand for vehicles is growing, particularly for off-road and commercial vehicles that can navigate the country’s diverse terrain. As road networks improve, the market for new and used vehicles is expected to expand beyond the major cities.
6. Future Outlook: A Growing and Diversifying Market
The Ghana automobile market is poised for growth, driven by a combination of economic development, urbanization, and government policies aimed at encouraging local manufacturing. The shift from a market dominated by used car imports to one that embraces locally assembled vehicles represents a significant opportunity for the industry. Additionally, the increasing focus on electric vehicles, improved safety and emissions standards, and the expansion of ride-hailing services all point to a dynamic future for Ghana’s automobile industry.
As the market continues to evolve, stakeholders in the automotive value chain—including manufacturers, dealers, financial institutions, and service providers—must work together to address challenges related to affordability, financing, and after-sales service infrastructure. By doing so, they can unlock the full potential of the Ghana automobile market and ensure sustained growth in the years to come.
Key Takeaways:
Ghana's automobile market is growing, driven by urbanization, rising incomes, and government support for local vehicle assembly.
The market is transitioning from heavy reliance on imported used vehicles to greater adoption of new and locally assembled cars.
Challenges such as financing constraints and inadequate after-sales services remain, but the future outlook is positive, with opportunities in electric vehicles and local manufacturing.
Major cities like Accra are leading the demand for passenger cars, while rural areas are seeing increased demand for commercial vehicles.
This blog provides an overview of the Ghana automobile market highlighting key trends, growth drivers, and the outlook for the industry, based on insights from the global market research industry.
#Ghana Automobile Market trends#Ghana Automobile Market size#Ghana Automobile Market share#Ghana Automobile Market analysis#Ghana Automobile Market forecast#Ghana Automobile Market demand
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Top Megatrends in the Chemical Industry
In the coming decade, the chemical sector will continue to develop at a breakneck pace. To preserve a competitive advantage, overcome problems, and seize new market possibilities, chemical businesses must change swiftly.
Trend 1 - Circular economy & Sustainability:
Raw materials and energy supplies are becoming increasingly scarce. The growing impact of emissions and garbage disposal has prompted several organisations to enact more rigorous environmental restrictions.
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Chemical firms around the world are increasingly working as ecosystems, ensuring sustainability and economics while using less energy and resources. To achieve the circular economy's goal of maximising value and conserving resources, the critical nodes of these raw materials, applications, chemical production, ecosystems, and end-users, focus on raw material substitution and maximise the use of renewables, recycling, energy recovery, and re-use by end-users. A couple of examples are as follows;
● Bio-based plastics:
Although drop-in or bio-based plastics aren’t biodegradable, they are entirely recyclable and designed to drop-in into existing recycling systems without degrading the recycling stream's quality or increasing its cost.
● Battery material recycling:
The market for battery materials recycling is likely to be fueled by rising electric vehicle usage and recycling legislation.
● Wind turbines work with Improved efficiency:
Wind energy currently supplies roughly 11% of Europe's electricity needs, with that percentage predicted to rise to 25% by 2030. The use of PX35 carbon fibre with increased length and less deadweight improves blade efficiency, which eventually results in generating more power per wind turbine.
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Trend 2: Digitalization:
In many major industries, digitalization is driving innovation, and the chemical industry isn't far behind in recognising the power of digitalization and its role in innovation. Chemical companies will benefit from digital technology in a variety of ways, including capturing critical data and gaining insights from it to improve output while lowering costs, scheduling preventative maintenance to reduce downtime, and facilitating accurate inventory planning to avoid stock-outs.
Digitalization is predicted to raise revenue and lowering costs, while also improving EBITDA margins by up to 9% in the industry. While many businesses have already begun to make use of mobility and the Internet of Things, machine learning and blockchain are predicted to be the biggest disruptions in the chemical industry. Take a look at the samples below to understand how this trend is being implemented:
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● AI to drive efficiency:
It takes a long time to manually match colours for car refinishing. Artificial intelligence and neural networks are used by BASF's Automotive Refinish Solutions division to match automobile colours according to customer needs.
● Sensors and IoT to transform logistics:
Dow Chemical monitors the temperature, humidity, shock, and light for thousands of shipments per day using networked sensors. Sensor data is loaded into event management software in real-time, which delivers timely notifications in the event of an anomaly.
● Machined to perfection:
Automated systems for manufacturing premium-quality complicated composites forms for the aerospace, automotive, marine, oil & gas, and piping industries have been created by companies such as Mikrosam AD (Macedonia).
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Trend 3: Accelerated Globalization & Innovation:
Chemical demand continues to rise in emerging nations, as their working-age population remains a major driving force for the chemical industry. Globalization has accelerated due to shorter product life cycles and a rush to commoditize things.
The majority of M&A agreements in the global chemical business occurred last year between companies that provide commodities, intermediates, and speciality materials. The majority of these transactions took place in the United States and China. Of the previous two decades, there has been a significant transfer in manufacturing plants to Asia. However, with the arrival of shale gas in the United States and coal-to-olefin technology in China, chemical manufacturing will be quite intriguing.
Palvi FZE is a dominant Industrial chemical distributor in Nigeria.
Here are a few examples of innovation:
● Novel manufacturing process:
Carbon fibre composite makers and automotive OEMs are looking for ways to expand the use of composites in cars. Faurecia (France) has developed a "one-shot" composite part manufacturing technique that improves quality while lowering cost and cycle time.
● Affordable composites manufacturing:
PlastiComp, Inc. has released two thermoplastic polymer matrices for its novel hybrid long glass and carbon fibre composites, lowering the cost of CFRP without sacrificing its high-performance benefits.
● Advanced materials for better insulation:
Insulation materials such as aerogel and phase change materials will outperform traditional insulation materials in terms of energy savings and thermal comfort and will expand at a double-digit rate.
Final Thoughts:
All three developments are converging to pose a threat to the chemical industry and to affect the strategic decisions of the world's leading chemical companies. Because traditional assets such as easy access to raw materials, closeness to clients, and R&D may no longer be sufficient to maintain a competitive edge, the agile and early adopters of these changes will have a competitive advantage over others.
#Industrial Chemicals Suppliers in Ghana#Industrial chemical distributor in Nigeria#Industries chemical exporter in Nigeria
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Top 10 companies in Lead Acid Battery Market | Trends and Growth Forecast to 2027
Transparency Market Research observes that the vendor landscape for Africa lead acid battery is foreseen to be moderately competitive and is expected to be led by a handful of market players.
Exide Technologies, DIXON Batteries, First National Battery Ltd., EnerSys, and Johnson Controls Inc. are some of the noted market players that are dominating Africa lead acid battery market.
Expansion of usage of lead acid battery to brand new application areas with promise of high growth and introduction of better, effective batteries at reasonable prices could be the key to success in the Africa lead acid battery market.
Africa lead acid battery market is expected to expand at a healthy 5.3% CAGR from 2015 to 2021. Global Africa lead acid battery market is estimated to be more than US$1.0 bn by 2021.
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Low Cost Price to Generate Market Demand
There has been an improvement in the African economy; as such, the purchasing power of people has been enhanced. In addition to that, automobile segment has witnessed massive growth in the recent times as well. The demand for passenger vehicles has increased substantially and it is set to rise further in the years to come. There has been an increase in the production of vehicles following rising demand for automobiles. As such, manufacturing of lead acid battery has increased thereby stimulating growth of Africa lead acid batter market. The usage of lead acid batteries in airplanes, buses, cars, trains, and trucks is supporting its growth in Africa.
Leading manufacturers of commercial automobile are stressing on the production of electric and hybrid vehicles across various model ranges. These automobiles are set to make use of acid batteries as source of power. As such, it can be said that with the rise for demand for vehicles, the demand for lead acid batteries in the automotive sector also increases.
The increasing requirement for inverters and UPS systems in industries and homes are also fuelling the demand for lead acid batteries. The usage of inverters and UPS systems is complementary to that of the lead acid batteries. All inverters and UPS systems need batteries to run and lead acid batteries are considered to be the most effective amongst the energy storage sources. Reliability and cost effectiveness will increase the requirement for these batteries in Africa in the years to come. However, materials that used in the process of manufacturing of lead acid batteries such as sulfuric acid and lead are dangerous substances, and need proper handling.
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The absence of collection and recycling systems can lead to environmental pollution. As such, the governments of numerous countries including African nations have issued stringent regulations and norms pertaining to lead acid batteries. Such regulations have been set up for restricting lead emission in lead acid battery thereby hampering the growth of lead acid batteries in Africa, and stimulating demand for other batteries that are environment friendly.
Low price is the competitive advantage that lead acid battery come with when compared to other substitutes. A large number of customers in Africa therefore, prefer lead acid battery. In Africa, lithium-ion batteries are competing strongly with the lead acid battery market as there are some positive traits belonging to the former. However, the Africa lead acid battery market is estimated to be driven by the low cost of the battery which is much lower than lithium-ion batteries. Most of the nations in Africa are either developing or under-developed. Therefore, the opportunity for affordable lead acid batteries in different application segments is of much importance in those countries.
The information that has been presented in this review has been extracted from a TMR report titled “Africa Lead Acid Battery Market (Type - Engine Starting, Motive Power, Standby Power, and Valve Regulated; Application - Industrial, Automobile, Commercial, Residential, and Power) - Africa Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2021
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The Africa lead acid battery market is segmented based on:
Type
Engine Starting
Motive Power
Standby Power
Valve Regulated
Application
Industrial
Automobile
Commercial
Residential
Power
Country
Nigeria
Egypt
South Africa
Kenya
Ghana
Zimbabwe
Rest of Africa
Companies in the Lead Acid Battery market have increasingly shifted gears with wide application of digital technology across the continuum, from raw material sourcing to manufacturing to generation of final output, to warehousing to final distribution operations. Among the various affects, the market is witnessing new growth economics due to thinning of line between specialty and commodity businesses that are associated with the larger ecosystem. At the same time, new growth parameters are being vigorously being debated as industry stakeholders put greater emphasis on the circular economy processes.
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Satellite Ground Station Equipment Market Status and Trend Analysis 2017-2026 (COVID-19 Version)
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Industrial Metrology Industry Trends, Competitive Landscape and Forecast by 2027
Global Industrial Metrology Market: An Overview
The global industrial metrology market report is an in-depth study of various trends, drivers, and growth indictors that will prevail in the market during 2018-2026. The applied, industrial or technical metrology is a set of processes, techniques, and advanced equipment to measure manufacturing and other processes. The measurement is usually done to understand the calibre, and quality control in these processes. It is estimated that these processes usually save about 15% of costs in manufacturing on average. Moreover, these are becoming increasingly important for nations worldwide as trends like automation, increased drive for independence in national defence, and growth of their traceability continues to go up. Generally, peer-reviewed, agreements, or accreditation sets these processes in place with standard benchmarks. It has become an important standard in measuring the progress of a country’s industrial sector.
Global Industrial Metrology Market: Notable Developments
A team of researchers from Norway and Denmark have identified a laser-based system which can detect fires in challenging industrial environments. The system based on industrial metrology does not measure light or its wavelength. Instead, it relies on the random fluctuation of the refractive index. Earlier systems faced issues with light as ambient dust particles could block their reading of fire. However, the new system overcomes this problem and propagates the evolution of fire detection system wherein even fires without flames can be detected. The innovation is expected to create significant opportunities for players in the industrial metrology market.
Is something restraining your company’s growth in the Industrial Metrology Market? Ask for the report brochure
The Indian government’s advisory body, the Niti Aayog, has suggested the creation of single body for food and drug inspection, on the lines of the FDA. The proposed plan would merge the food inspection which used to come under legal metrology under a single umbrella. This evolution in government practice has much to do with a singular mode of establishment for a large number of processes, and the growing application of industrial metrology. China has also created an national inspection program similar to the FDA. Moreover, Ghana also recently adopted standards set by the Indian pharmaceutical metrology which is a major boost for the global industrial metrology market.
Global Industrial Metrology Market: Drivers and Restraints
Rising demand for industrial metrology solutions in inspection of foods, in defence sector, and for undertaking major initiatives like smart cities are expected to drive growth. The rising demand for aerospace solutions, growing availability of quality metrology solutions, and increasing awareness are expected to emerge as major drivers. Moreover, the growing demand for these solutions in automotive sector and in general manufacturing is also expected to drive growth. Automotive sector is expected to witness a major evolution during the upcoming period as automobile manufacturing quickly moves to automated facilities. The need for highly reliable and quality processes, and rising demand for electric vehicles are expected to drive major growth. Moreover, the rise in demand from the manufacturing sector due to automation is also expected to remain extremely high during the forecast period.
Looking for Regional Analysis or Competitive Landscape in Industrial Metrology Market, ask for a customized report
Global Industrial Metrology Market: Geographical Analysis
The global industrial metrology market report is divided into key regions like North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these, the North America region is expected to witness considerable growth. The region is home to considerable opportunities, thanks to increasing move towards automation, and widespread use of industrial metrology market. The industrial metrology market is also expected to witness robust growth in Europe. The increasing move in the automotive sector towards automation, growing targets set due to climate change accord are expected to drive significant opportunities for the industrial metrology market in the near future.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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Industrial Metrology Industry Trends, Competitive Landscape and Forecast by 2027
Global Industrial Metrology Market: An Overview
The global industrial metrology market report is an in-depth study of various trends, drivers, and growth indictors that will prevail in the market during 2018-2026. The applied, industrial or technical metrology is a set of processes, techniques, and advanced equipment to measure manufacturing and other processes. The measurement is usually done to understand the calibre, and quality control in these processes. It is estimated that these processes usually save about 15% of costs in manufacturing on average. Moreover, these are becoming increasingly important for nations worldwide as trends like automation, increased drive for independence in national defence, and growth of their traceability continues to go up. Generally, peer-reviewed, agreements, or accreditation sets these processes in place with standard benchmarks. It has become an important standard in measuring the progress of a country’s industrial sector.
Global Industrial Metrology Market: Notable Developments
A team of researchers from Norway and Denmark have identified a laser-based system which can detect fires in challenging industrial environments. The system based on industrial metrology does not measure light or its wavelength. Instead, it relies on the random fluctuation of the refractive index. Earlier systems faced issues with light as ambient dust particles could block their reading of fire. However, the new system overcomes this problem and propagates the evolution of fire detection system wherein even fires without flames can be detected. The innovation is expected to create significant opportunities for players in the industrial metrology market.
Is something restraining your company’s growth in the Industrial Metrology Market? Ask for the report brochure
The Indian government’s advisory body, the Niti Aayog, has suggested the creation of single body for food and drug inspection, on the lines of the FDA. The proposed plan would merge the food inspection which used to come under legal metrology under a single umbrella. This evolution in government practice has much to do with a singular mode of establishment for a large number of processes, and the growing application of industrial metrology. China has also created an national inspection program similar to the FDA. Moreover, Ghana also recently adopted standards set by the Indian pharmaceutical metrology which is a major boost for the global industrial metrology market.
Global Industrial Metrology Market: Drivers and Restraints
Rising demand for industrial metrology solutions in inspection of foods, in defence sector, and for undertaking major initiatives like smart cities are expected to drive growth. The rising demand for aerospace solutions, growing availability of quality metrology solutions, and increasing awareness are expected to emerge as major drivers. Moreover, the growing demand for these solutions in automotive sector and in general manufacturing is also expected to drive growth. Automotive sector is expected to witness a major evolution during the upcoming period as automobile manufacturing quickly moves to automated facilities. The need for highly reliable and quality processes, and rising demand for electric vehicles are expected to drive major growth. Moreover, the rise in demand from the manufacturing sector due to automation is also expected to remain extremely high during the forecast period.
Looking for Regional Analysis or Competitive Landscape in Industrial Metrology Market, ask for a customized report
Global Industrial Metrology Market: Geographical Analysis
The global industrial metrology market report is divided into key regions like North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these, the North America region is expected to witness considerable growth. The region is home to considerable opportunities, thanks to increasing move towards automation, and widespread use of industrial metrology market. The industrial metrology market is also expected to witness robust growth in Europe. The increasing move in the automotive sector towards automation, growing targets set due to climate change accord are expected to drive significant opportunities for the industrial metrology market in the near future.
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Glass Coating Market Business Overview, Challenges, Opportunities, Trends and Market Analysis by 2023
On the Basis of Geography, the Global Glass Coatings Market is divided into Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia Pacific is the major shareholder of the Global Glass Coatings Market due to growing use in end-use industries such as construction, paints & coatings, marine, energy, automobile & transport, and others. Japan is the major player of this market and is anticipated to continue its dominance followed by China, South Korea, and India over the assessment period. Growing production of smartphones, tablets, TVs, and computers is likely to fuel the demand for Glass Coating Market during the forecast period.
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Rapid urbanization and rising demand from the major industries such as automobile & transport, energy storage, marine, and others in the European region are likely to propel the market growth at a high CAGR during the forecast period. Germany is one of the leading players of this market followed by the U.K., Italy, and France; and is expected to continue the same over the review period. The pyrolytic coating segment is leading the market in this region and expected to be replaced by the magnetic sputtering coating during the forecast period due to various disadvantages such as short life, long production hours, among others.
The North American countries such as the U.S. and Canada are contributor to the Global Glass Coating Market due to developed technologies such as nano glass coating and liquid Glass Coating. The liquid glass coating segment holds the major share of the glass coating market due to its aesthetic appearance, long life duration, and protection from pollutants. Sol-gel coating and nano Glass Coating segments are projected to grow at a high CAGR during the forecast period due to benefits and advantages offered by the product such as excellent UV protection, and protection from naturally acid contaminants.
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The Middle East & Africa is estimated to grow rapidly due to increasing usage in various applications such as packaging, medicals, and drug delivery carriers. Nigeria is one of the leading players in this region followed by South Africa, Ghana, and others. Moreover, a sustainable development has achieved in the Latin American region such as Brazil, Uruguay, and Argentina due to growing use in heavy vehicles, automobile and transport, marine, and others industries.
Key Players:
The major players functioning in the Global Glass Coating Market are PPG industries (U.S.A.), Morgan Advanced Materials (U.K.), SCHOTT AG (Germany), Kyocera Corp (Japan), The NSG Group (Japan), Murata Manufacturing Co., Ltd (Japan), Saint-Gobain (France), Corning Inc (U.S.A.), and Emirates Float Glass (U.A.E), among others.
Segmental Analysis:
The Global Glass Coating Market is classified into Type, Technology and Application.
On the Basis of the Type, the market is classified into pyrolytic coatings, magnetic sputtering coating, and sol-gel coatings.
On the Basis of Technology, the market is divided into liquid glass coating and nano glass coating.
On the Basis of Application, the market is further classified into construction, paints & coatings, automotive and transport, marine, aviation, and others.
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Flexible Cables Market Growth, Trends and Value Chain 2017-2027 by FMI
Cable are a type of insulated wire which are usually used in transmitting electricity or telecommunication signals. Various types of cables are developed and designed for use in various purposes. The need for a combination of high-temperature and high-performance in wire insulation did become a critical factor in various platforms, and d flexible cables are one such cables that are specially designed to sustain in such platforms. Due to its insulation with fluoropolymer, such flexible cables can undergo in tight bending and physical stress associated with various critical applications. Owing to its critical usage and absence of any substitute it can be expected that flexible cable market will gain significant demand over the forecast demand.
Flexible Cables Market: Drivers and Restraints
Flexible cables main consumption comes from household electrical wiring. With expansion of population and rise in individual’s income it can be well predicted that there will be rise in construction of new houses as well as growth in real estate business, which will fuel up the demand of flexible wiring. Even growth in automobile industry, and growth in consumer electronics will also further strengthen the market of flexible wiring. Owing to the structure and design of automobiles and consumer electronics, flexible cables plays a pivotal role in it in connecting various points and terminals for transmission of power as well as signals which else cannot be meet with other type of rigid cables.
Globally there has been race for various innovations in various product segment to make it more efficient and flexible. Considering this prevailing scenario it can be anticipated that there will be less of restraint for the flexible cable market.
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GlobalFlexible Cable Market: Market Segmentation
Based on application, the global Flexible Cables market can be segmented into
Signal Transmission
Power Transmission
Based on end user industry, the global Flexible Cables market can be segmented into:
Automobile Industry
Electronics Appliances Industry
Energy & Utilities
Telecommunication
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Flexible Cables Market: Overview
Geographically, the Flexible Cables market is segmented into seven regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East and Africa (MEA). APEJ is the leading market for flexible cables. Countries in APEJ such as China, South Korea, and India are undergoing tremendous economic reform which has triggered implementation of various projects to industrialize and increase connectivity. Such projects will bring in scope for tremendous demand of flexible cables. Moreover countries in APEJ in 21st century has become hub for various industries such as automobiles as well as consumer electronics and IT goods, which are another avenues where there is a huge consumption of flexible cables. Next to APEJ, North America is another major market for flexible cables. Countries in North America has also various establishments such as data centers, IT industries, automobile industries as well alike APEJ which will keep the demand of flexible cables in momentum. Western Europe is another region where the demand of flexible cables will be in a healthy position due to its usage in various automobile industries as well as in renewable energy industries which are present in this region. Japan is ahead of Eastern Europe with respect to flexible cables market. Japan has been a formidable player in producing various cutting edge electronic equipment as well as automobiles. These two avenues in Japan are present in large scale which brings in quite a healthy demand of flexible cables. In MEA, countries of GCC are undergoing rapid modernization and gradually moving away from being only oil economy. Various implementation of projects and industries in GCC will bring in demand of flexible cables. Countries in Africa such as Ghana, Nigeria, and South Africa are witnessing growth from various avenues and rise in demand of power transmission and connectivity will provide the necessary demand of flexible cables. At the same time, Latin America countries are not lagging behind in infrastructure. Government projects and private investments are gaining pace which will further catapult the demand of flexible cables in this region as well.
Flexible Cables Market: Key players
Few of the prominent players in Flexible cable market are –
SAB Bröckskes GmbH & Co. KG
Top Cable 2015
Universal Cables Ltd.
LUTZE INC.
Finolex
Cleveland Cable Company
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Satellite Based Augmentation Systems (SBAS) Market Status and Trend Analysis 2017-2026 (COVID-19 Version)
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SAR Measurement System Market Status and Trend Analysis 2017-2026 (COVID-19 Version)
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Industrial Metrology Market Analysis, Growth Drivers, Trends, and Forecast till 2027
Global Industrial Metrology Market: An Overview
The global industrial metrology market report is an in-depth study of various trends, drivers, and growth indictors that will prevail in the market during 2018-2026. The applied, industrial or technical metrology is a set of processes, techniques, and advanced equipment to measure manufacturing and other processes. The measurement is usually done to understand the calibre, and quality control in these processes. It is estimated that these processes usually save about 15% of costs in manufacturing on average. Moreover, these are becoming increasingly important for nations worldwide as trends like automation, increased drive for independence in national defence, and growth of their traceability continues to go up. Generally, peer-reviewed, agreements, or accreditation sets these processes in place with standard benchmarks. It has become an important standard in measuring the progress of a country’s industrial sector.
Global Industrial Metrology Market: Notable Developments
A team of researchers from Norway and Denmark have identified a laser-based system which can detect fires in challenging industrial environments. The system based on industrial metrology does not measure light or its wavelength. Instead, it relies on the random fluctuation of the refractive index. Earlier systems faced issues with light as ambient dust particles could block their reading of fire. However, the new system overcomes this problem and propagates the evolution of fire detection system wherein even fires without flames can be detected. The innovation is expected to create significant opportunities for players in the industrial metrology market.
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The Indian government’s advisory body, the Niti Aayog, has suggested the creation of single body for food and drug inspection, on the lines of the FDA. The proposed plan would merge the food inspection which used to come under legal metrology under a single umbrella. This evolution in government practice has much to do with a singular mode of establishment for a large number of processes, and the growing application of industrial metrology. China has also created an national inspection program similar to the FDA. Moreover, Ghana also recently adopted standards set by the Indian pharmaceutical metrology which is a major boost for the global industrial metrology market.
Global Industrial Metrology Market: Drivers and Restraints
Rising demand for industrial metrology solutions in inspection of foods, in defence sector, and for undertaking major initiatives like smart cities are expected to drive growth. The rising demand for aerospace solutions, growing availability of quality metrology solutions, and increasing awareness are expected to emerge as major drivers. Moreover, the growing demand for these solutions in automotive sector and in general manufacturing is also expected to drive growth. Automotive sector is expected to witness a major evolution during the upcoming period as automobile manufacturing quickly moves to automated facilities. The need for highly reliable and quality processes, and rising demand for electric vehicles are expected to drive major growth. Moreover, the rise in demand from the manufacturing sector due to automation is also expected to remain extremely high during the forecast period.
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Global Industrial Metrology Market: Geographical Analysis
The global industrial metrology market report is divided into key regions like North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these, the North America region is expected to witness considerable growth. The region is home to considerable opportunities, thanks to increasing move towards automation, and widespread use of industrial metrology market. The industrial metrology market is also expected to witness robust growth in Europe. The increasing move in the automotive sector towards automation, growing targets set due to climate change accord are expected to drive significant opportunities for the industrial metrology market in the near future.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
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