ReleaseWire Connect

Increasing demand for luxury and comfort, and growing demand for premium cars and luxury buses are expected to drive the automotive air suspension market over the forecast period. Moreover, stringent emission control norms and fuel efficiency regulations in different countries is enforcing stringent targets to OEMs. This in turn, has increased the demand for lightweight air suspension system in the automotive industry. For instance, Kenworth Truck Company, a U.S. based manufacturer of medium and heavy-duty Class 8 trucks, introduced air ride suspension system in its vehicles to reduce the weight of suspension system by 400 pounds. ECOmove, an Australian company, developed patented ‘Qbeaks’ suspension composed entirely made of composite materials.

The increasing need for fuel efficient vehicles and stringent emission control norms are expected to drive the demand for automotive fuel injection system over the forecast period. Serious issues related to environmental pollution has cropped up mainly because of industrial emission and automotive emission; mainly carbon monoxide and sulfur dioxide emitted by vehicles. Extraction and use of conventional fuels such as petroleum products is increasing. Hence, there is an increasing demand for vehicles with better fuel efficiency and lower emission.

The global market is mainly driven by increasing traffic congestion. As the traffic congestion is increasing, people are facing more problems. Traffic congestion wastes time of passengers and leads to delay in reaching the workplace. The most effective solution to reduce traffic congestion is adopting intelligent transportation systems that manage the traffic system more effectively and efficiently. The market in Asia-Pacific is expected to witness the fastest growth with a CAGR of 14.1% during 2015 – 2020. This is due to supportive government initiative, towards the implementation of ITS across several developing countries in Asia-Pacific.

The growth of the global market is largely driven by rapid urbanization and increasing level of air pollution across the globe and increasing prevalence of respiratory diseases. Some of the other factors driving the growth of the global market include growing geriatric population, changing lifestyle, increasing healthcare expenditure, and high prevalence of tobacco smoking. Increasing demand of point-of-care diagnosis, growing demand for home care therapeutic devices and high growth in developing countries in respiratory care device are expected to create ample opportunities for the manufacturers of respiratory care device. However, lack of awareness, reimbursement concerns and harmful effect of respiratory care device on neonatal are hampering the growth of the global respiratory care device market.

The global Biorefinery market was valued at $432.4 billion in 2014, and it is expected to grow with a CAGR of 14.0% during 2015 - 2020. The factors driving the growth of the global market include government initiatives and increasing pressure for environmental sustainability, need for geopolitical energy security, technological advancements and increasing investment in the biorefinery market, and increasing need for energy independence. The global biorefinery market is at its nascent form. Currently, there are very few large scale biorefineries, as compared to conventional petroleum-based refineries across the globe. Hence, the massive unexplored biorefinery market across the world is expected to attract more investors and new players to explore the potential of the market. Moreover, the high rate of depletion of fossil fuels is creating demand for sustainable and ecofriendly energy source, thus providing abundant opportunities for the major players in the global market.

The global Mobile wallet market is expected to grow from $232.9 billion in 2014, and reach $3155.1 billion in 2020, growing with a CAGR of 52.0%. The growth in smartphone and mobile internet users, and convenience and accessibility are some of the factors, driving the growth of the global mobile wallet market. The growing preference for reward and loyalty programs is expected to give a major boost to the growth of the global mobile wallet market in future.

The global Artificial lift market is expected to increase from $14,214.6 million in 2014, and reach up to $25,268.3 million in 2020, with a growing CAGR of 10.2%, during 2015 - 2020. The global artificial lift is mainly driven by the increasing shale oil and gas production. The key drivers for the artificial lift market include depleting oil reservoirs, increasing ultradeep and deepwater activities, and maturing oil and gas fields.

The global patient handling equipment market is growing at a significant rate due to increasing healthcare expenditure, increasing risk of injuries to caregivers during patient handling and growing geriatric population. The increasing prevalence of chronic diseases and advancements in technology has led to the development of easy to handle and powered patient handling equipment. And the improving healthcare infrastructure in developing countries are also driving the growth of the global patient handling equipment market.

The global computed tomography market is growing at a significant rate, due to increasing healthcare expenditure, and growing geriatric population. The increasing prevalence of chronic diseases and improving healthcare infrastructure in developing countries are also driving the growth of the global computed tomography market. However, the factors such as stringent regulatory requirements for the approval of CT devices, and side effects of ionization radiation are inhibiting the growth of the global market.

The global diagnostic imaging market is growing at a significant rate, due to increasing healthcare expenditure, increasing awareness of early diagnosis, and growing geriatric population. The increasing prevalence of chronic diseases, technological advancement and widening application of diagnostic imaging devices, and improving healthcare infrastructure in developing countries are also driving the growth of the global diagnostic imaging market.