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Delray Beach, FL, Oct. 15, 2024 (GLOBE NEWSWIRE) — The Paints & Coatings Market by Resin Type (Acrylic, Alkyd, Epoxy, Polyurethane, Fluoropolymer, Vinyl, Polyester), Technology (Waterborne Coatings, Solvent-borne Coatings, Powder Coatings), End Use (Architectural, Industrial), Region – Global Forecast to 2029, is projected to reach a market size of USD 227.5 billion by 2029 from USD 194.5 billion in 2024, at a CAGR of 3.2%. The Asia pacific is one of the prominent consumers of paints & coatings across the globe. Currently, the requirement for paints & coatings is growing tremendously for automotive, packaging, construction, electronics, and others. The growth of the emerging economies as China, India, Brazil and Mexico among others contribute significantly for the development of the global paints & coatings market.

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592 – Market Data Tables
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List of Key Players in Paints & Coatings Market:

1. Akzo Nobel N.V. (Netherlands)
2. PPG Industries Inc. (US)
3. The Sherwin-Williams Company (US)
4. Axalta Coating Systems LLC. (US)
5. Jotun A/S (Norway)

Drivers, Restraints, Opportunities and Challenges in Paints & Coatings Market:

1. Driver: Environmental regulations boosting the demand for VOC-free coatings
2. Restraint: Requirement of more drying time for waterborne coatings
3. Opportunity: Increasing applications of fluoropolymers in the building & construction industry
4. Challenge: Difficulties: Strict regulations

Key Findings of the Study:

1. Growing share of waterborne coatings to support eco-friendly coatings
2. Acrylic Resins is projected to be the fastest growing resin type of paints & coatings market.
3. Asia Pacific leads the paints & coatings market with global growth trends and regional shifts

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The major markets are in Asia Pacific, followed by North America and Europe. The Asia Pacific region’s growth is mostly attributable to strong economic growth and significant investments made in a range of industries, including general industrial, construction, automobile OEMs, and architecture. The manufacturing sector has benefited greatly from the global economic recovery, while the demand for new residential development and infrastructure has been fueled by rising urbanization.

The construction and renovation of roads, bridges, water and sewer systems, smart cities, and other infrastructure have increased demand for paints and coatings. In contrast, industrialized economies such as the US, Germany, UK, France, and Japan have matured markets for paints & coatings. As a result, in order to combat concerns such as declining sales, many businesses are refocusing their efforts in areas with consistent demand.

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Economic uncertainty, erratic raw material costs, unstable foreign exchange rates, sluggish economic growth, and the disparity between raw material supply and demand are the main obstacles faced by producers of paints & coatings in developed nations. In order to maintain their competitive edge and take advantage of the rising demand for paints and coatings worldwide, these factors have forced manufacturers to investigate new strategies, such as diversifying their product portfolios, investing in research and development, and increasing their presence in emerging markets.

Browse Adjacent Markets: Coatings Adhesives Sealants and Elastomers Market Research Reports & Consulting

Related Reports:

1. Flexible Packaging Market – Global Forecast to 2027
2. Green Hydrogen Market – Global Forecast to 2030
3. Methanol Market – Global Forecast to 2028

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Rockville, MD , Oct. 15, 2024 (GLOBE NEWSWIRE) — Fact.MR, a market research and intelligence provider, states in its latest industry report that the global orthopedic surgical robot market is estimated to reach a valuation of US$ 2.35 billion in 2024 and further expand at a CAGR of 13.5% from 2024 to 2034.

The number of surgical procedures conducted each year is increasing across the world, leaving surgeons to have to execute more difficult and time-consuming procedures. Fractures are becoming one of the main forces behind the increased demand for robotic arms; these robotic arms can print a 3D image of the shattered bone fragment, allowing surgeons to connect the 3D portion to the wounded location and treat the patient.

As the prevalence of osteoarthritis rises, more patients seek total knee replacement surgery to alleviate the discomfort caused by arthritis. People with arthritis have difficulty walking and climbing stairs, but surgery allows them to regain their fitness. The elderly population is increasing, as are orthopedic problems such as osteoporosis. The number of procedures is growing as the incidence of orthopedic problems grows. This is boosting the production of surgical robots.

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Key Takeaways from the Market Study:

• The global orthopedic surgical robot market is forecasted to reach a valuation of US$ 8.34 billion by the end of 2034.
• North America is evaluated to hold a global market share of 51.2% by 2034.
• The market in East Asia is forecasted to expand at a noteworthy CAGR of 15.8% from 2024 to 2034.
• The United States is projected to occupy a share of 94.4% of the North American market by 2034. Sales of orthopedic surgical robots in the country are evaluated to rise at a CAGR of 13.3% through 2034.
• The South Korean market is forecasted to expand at a CAGR of 15.9% from 2024 to 2034.
• Based on product type, sales of disposable orthopedic surgical robots are set to reach US$ 885.5 million in 2024.

“Orthopedic surgical robots enhance surgical precision and reduce surgery time, which leads to higher success rates and improved patient experience. This is a major factor driving market growth,” says a Fact.MR analyst.

Leading Players Driving Innovation in the Orthopedic Surgical Robot Market:

Medrobotics Corporation; Medtronic; Renishaw Plc; Smith and Nephew; Stryker Corporation; THINK Surgical Inc.; Transenterix; Zimmer Biomet; Accuracy Incorporated; Globus Medical; Auris Health Inc.; Johnson & Johnson Services Inc.; Nordson Corporation; OMNLife Science Inc.; Intuitive Surgical; Wright Medical Group N.V.

Focus on Reducing Risks During Orthopedic Surgery:

Orthopedic robots make it easier to insert implants accurately and provide tailored treatment to patients. They can reduce tissue injury, blood loss, and complication risk. They are at the core of the push toward digitally assisted surgery and the ongoing hunt for surgical innovation. Orthopedic businesses are taking note and pushing the boundaries to enhance robotic platforms beyond their existing capabilities.

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More Valuable Insights on Offer:

Fact.MR, in its new offering, presents an unbiased analysis of the orthopedic surgical robot market for 2019 to 2023 and forecast statistics for 2024 to 2034.

The study divulges essential insights into the market based on product type (systems, disposables), application (partial knee replacement, total knee replacement, MIS fusion, other indications), and end user (hospitals, ambulatory surgical, specialty clinics), across seven major regions of the world (North America, Latin America, Eastern Europe, Western Europe, East Asia, South Asia & Pacific, and MEA).

Orthopedic Surgical Robot Industry News:

Stryker completed the acquisition of Vocera Communications in February 2022. Our aspirations for digital advancement can now be accelerated and innovations can be advanced thanks to this acquisition. The addition of Vocera to Stryker’s Medical business expands the company’s focus on reducing adverse events throughout the continuum of care and improves the company’s Advanced Digital Healthcare services.

Checkout More Related Studies Published by Fact.MR Research: 

Orthopedic Surgical Robot Market: As per a new study released by Fact.MR, the global orthopedic surgical robot market is poised to reach a size of US$ 2.35 billion in 2024 and thereafter increase at a CAGR of 13.5% to climb to a value of US$ 8.34 billion by the end of 2034.

Radiosurgery and Radiotherapy Robots Market: The global radiosurgery and radiotherapy robots market is set to enjoy a valuation of US$ 5.8 billion in 2022. Worldwide sales of radiosurgery and radiotherapy robots are predicted to increase at a steady CAGR of 4.6% to reach a market valuation of US$ 7.1 billion by the end of 2026.

X-ray-based Robots Market: Worldwide sales of X-ray-based robots are anticipated to increase at a high-value CAGR of 7.1% from 2022 to 2027. In 2022, the global X-ray-based robots market is valued at US$ 4.25 billion and is projected to reach a market size of US$ 6 billion by 2027.

Orthopedic Braces and Support System Market: Sales of orthopedic braces and support systems are slated to accelerate at a CAGR of 6% to top US$ 5.5 Bn by 2031. Demand for knee braces and supports is set to increase at a CAGR of 5% across the assessment period of 2021 to 2031.

Orthopedic Devices Market: The global orthopedic devices market is estimated to evolve at a CAGR of 4% from 2023 to 2033. At present, the market is valued at US$ 45 billion and is thus expected to reach a size of US$ 67 billion by the end of 2033.

About Us: 

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning.

With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.  

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Rockville, MD , Oct. 15, 2024 (GLOBE NEWSWIRE) — The global In-Line Transit Time Ultrasonic Flow Meter Market is estimated to be US$ 515.2 million in 2024 and is projected to grow steadily with a 6.30% CAGR through 2034. The market is projected to surpass a valuation of US$ 949.1 million by 2034.

In-line transit time ultrasonic flow meters are gaining a lot of impetus in industrial and commercial settings as they provide accurate and non-intrusive flow measurement solutions. Industries and manufacturing units are increasingly preferring these flow meters due to their capability to offer precise and non-disruptive measurement solutions for fluid flow.

The significance of these flow meters is also touching the skies, especially in industries where precision, efficiency, and environmental considerations are of paramount importance. These manufacturing units use flow meters to optimize their fluid processes, ensuring precision and efficiency in every operation. This increased significance has pushed the demand for
in-line transit time ultrasonic flow meters to unprecedented levels.

Businesses and manufacturing units also prefer these flow meters as they offer unrivaled precision, efficiency, and environmental compatibility. Businesses in pharmaceutical manufacturing, chemical processing, or other precision-critical industries rely on in-line transit time ultrasonic flow meters to provide highly accurate measurements.

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Key Takeaways from the Market Study:

• The global in-line transit time ultrasonic flow meter market is projected to expand at a CAGR of 6.30% for the forecast period of 2024 to 2034.
• The North American in-line transit time ultrasonic flow meter market is expected to grow at a CAGR of 6.50% from 2024 to 2034.
• The United States holds a dominant share of 68.30% of the in-line transit time ultrasonic flow meter market in the North American region.
• China dominates the in-line transit time ultrasonic flow meter market in the East Asian region, valued at US$ 100.5 million in 2024.
• The in-line transit time ultrasonic flow meter industry in the United States is expected to rise at a CAGR of 6.40% from 2024 to 2034.
• Based on the technology, the multipath segment held a 68.80% market share in 2024.
• The gas flow measurement segment also leads the market with a 61.50% share in 2024, based on application.

“There is still little to no awareness regarding the benefits of in-line transit timer ultrasonic flow meters. Companies in the in-line transit time ultrasonic flow meters market must conduct educational programs and training sessions for clients, distributors, and industry professionals to enhance understanding and awareness of in-line transit time ultrasonic flow meters,” opines a Fact.MR analyst.

Leading Players Driving Innovation in the In-Line Transit Time Ultrasonic Flow Meter Market:

Key industry participants like Emerson Electric Co, KROHNE Group, Pietro Fiorentini S.p.A., SICK MAIHAK, Inc., Siemens AG, Gruppo Antonini S.p.A. (M&T), Endress+Hauser Management AG, Baker Hughes Company, Elster Instromet (Honeywell), Danfoss, Omega Engineering Inc., Transus Instruments, RMG Messtechnik GmbH. etc. are driving the in-line transit time ultrasonic flow meter industry.

In-Line Transit Time Ultrasonic Flow Meter Industry News:

• To go along with their full-sized clamp-on variant, AW Lake introduced the portable CUTT transit time ultrasonic flow meter in July 2022. Under difficult circumstances, the device enabled accurate, non-contact flow measurements. Because of its simplicity of deployment, end users were able to save time and money while still using it for precise chemical and water flow measurements that did not disrupt processes.
• The FF1225 Series Ultrasonic Flare Gas Flow Meter, designed for accurate flare gas metering, was introduced by Lauris Technologies in June 2023. In contrast to subpar options selected for cost-cutting, this solution guarantees precise flow measurements and lowers maintenance expenses. It provides options including temperature and pressure transducers, local or distant mount transmitters, and a multi-path version that achieves less than 1% flow uncertainty.
• August 21, 2023 saw the completion of Emerson’s acquisition of FLEXIM, a Berlin-based manufacturer of ultrasonic flowmeters. Emerson’s position as a top provider of flowmeters and automation solutions is strengthened by this final agreement, which is a component of their ongoing collaboration that began in 2016.

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Competitive Landscape:

In-line transit time ultrasonic flow meter industry leaders prioritize comprehensive investment in research and development activities, aiming to innovate and enhance the technology, functionality, and features of in-line transit time ultrasonic flow meters. The focus of these market giants extends beyond innovation, encompassing a commitment to the continuous improvement of measurement accuracy and reliability.

By placing a strong emphasis on these aspects, these companies navigate the dynamic market environment, ensuring that their in-line transit time ultrasonic flow meters meet and exceed industry standards.

Key Segments Covered in In-Line Transit Time Ultrasonic Flowmeter Industry Research:

• By Technology:
  • Single/Dual Path
  • Multi Path
• By Application:
  • Liquid Flow Measurement
  • Gas Flow Measurement
• By End-User:
  • Oil & Gas
  • Power Generation
  • Chemicals
  • Others (Water & Wastewater, Food & Beverages)

Check out More Related Studies Published by Fact.MR Research:

Ultrasonic flow meter market size is estimated at US$ 2.15 billion in 2024 & is projected to reach US$ 4.11 billion, with noteworthy CAGR of 6.7% from 2024 to 2034.

Gas and liquid flow management system market stands at US$ 18.58 billion and is expected to climb to a market valuation of US$ 27.25 billion by the end of 2032.

SCR power controller market is expanding from an estimated $178.6 million in 2024 to a colossal $274.4 million by 2034, fueled by a CAGR of 4.4%.

Ride-on power trowel market is likely to reach a valuation of around US$ 87 million in 2022. The sales of ride-on power trowel are slated to accelerate at a steady CAGR of 4.6% to top US$ 137 million by 2032.

Sales of combined heat and power systems have reached US$ 20.17 billion in 2023 and are expected to climb to US$ 29.86 billion by the end of 2033.

Power tool batteries market is currently valued at US$ 2.5 billion in 2023 and is estimated to climb to US$ 6.5 billion by the end of 2033.

About Us:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning.

With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay competitive.

Contact:
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Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Sales Team: sales@factmr.com
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The Luxury Residential Building Will Deliver a New Benchmark for Senior Living Rooted in Wellness and Community for the Generation that Built Silicon Valley

SANTA CLARA, Calif., Oct. 14, 2024 /PRNewswire/ — Ellore, Santa Clara’s newest luxury senior living community, officially launches leasing. Developed by Related California and operated by Oakmont Management Group, Ellore is a blend of sophistication, innovation and sustainability to fit the Silicon Valley lifestyle. Located at 2350 Calle De Luna, Ellore is comprised of 176 residences (including independent living, assisted living and memory care), thoughtfully-designed amenities, diverse programming and services for a wide range of needs.

“Ellore is a tribute to the people who have invested so much to make Silicon Valley the vibrant community it is today.”

The 20-story tower is designed by the acclaimed Steinberg Hart with interiors by MAWD – March and White Design. Each residence is crafted with Italian-made cabinetry and fully customized, spa-like bathrooms and envisioned to meet individualized needs including studio, one- and two-bedroom apartment homes and penthouse suites as well as furnished respite suites (located on the fourth floor) and dedicated memory care residences. All independent and assisted living residences feature full-size kitchens.

“We are proud to finally reach this milestone for Ellore with our partners at Oakmont Management Group,” said Nick Vanderboom, Chief Operating Officer of Related California. “Located in the heart of The Clara District, Ellore will set a new standard of luxury senior living in Silicon Valley by offering residents thoughtfully curated homes, amenities and programming for older adults without sacrificing design, comfort and lifestyle.”

“Ellore is a tribute to the people who have invested so much to make Silicon Valley the vibrant and world-renowned community it is today,” said Lola Bullock, Executive Director of Ellore. “It’s an honor to provide them with this mindful living space and care program that makes the most of modern technologies and wellness practices in a classic luxury environment.”

From discreetly coordinated services to personalized assistance, residents at Ellore experience care that seamlessly integrates into their daily lives, always delivered with the utmost respect for dignity and comfort. Its tailored care plans, with highly trained team members available to deliver individualized personal care, respect each resident’s independence and privacy.

Ellore’s wide range of amenities and programming provide residents a built-in community with a boutique feel. The third floor is home to its main restaurant, The Summit Room, with an outdoor dining terrace, cocktail lounge and bar, expansive library lounge as well as a private dining room. The fourth floor hosts an on-site wellness center including a concierge physician’s office and physical therapy suite. The 20th floor includes its activity room which will host a multitude of events including art classes, games, lectures, and more, a fitness center, yoga studio, state-of-the-art theater, spa treatment room, private showers and an outdoor saltwater plunge pool, which overlooks the Diablo Mountains.

Ellore is located in The Clara District, a vibrant 45-acre community designed to be a premier destination for living, dining, shopping, and entertainment. Framed by Santa Clara’s salt ponds, Levi’s Stadium and the Diablo Mountain Range with a neighborhood dog park, children’s play structure, dining options, parks, trails, and transit all within walking distance, the community offers something for everyone.

Residences are now available for reservation and move-ins are expected to begin in early 2025. For more information on Ellore or to schedule your exclusive tour, please visit https://elloreseniorliving.com, call (669) 288-5610, or visit the information center at 2350 Calle De Luna (open daily from 8 AM to 6 PM).

About Related California
Since 1989, Related California has undertaken a range of transformational developments from best-in-class, luxury high-rise residential properties to the redevelopment of obsolete public housing, spanning a broad spectrum of urban infill, affordable, mixed-income and market rate multi-family developments. The company has a development portfolio of more than 20,700 residential units completed or under construction, and more than 4,600 affordable and 7,200 market rate units in pre-development. 

Related California has a long history of community partnership, having collaborated with more than 40 municipalities and over 30 non-profit organizations throughout the state. The company has successfully developed and managed a broad range of property types throughout Alameda, Contra Costa, Los Angeles, Orange, Sacramento, San Bernardino, San Diego, San Francisco and Santa Clara counties. Related California has developed more than $10.3 billion in assets and has a track record of consistently developing communities that exceed industry benchmarks in design, construction, sustainability and property management. For more information about Related California, visit www.relatedcalifornia.com. 

About Oakmont Management Group
Oakmont Management Group, based in Irvine, Calif., is a recognized leader in the senior living industry that manages a portfolio of nearly 100 communities in California, Nevada and Hawaii. Residents receive customized services delivered in luxurious, resort-style settings. With an impressive array of five-star amenities and compassionate team members, residents of Oakmont Management Group communities benefit from the finest senior living experience in the industry. For more information about Oakmont Management Group, visit www.oakmontseniorliving.com.

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SOURCE Oakmont Management Group

Nvidia’s (NVDA) record close on Monday comes as AI hardware stocks continue a recent tear fueled by investor enthusiasm over surging artificial intelligence demand.

Nvidia shares are up 8% from last week, pushing the chipmaker closer to unseating Apple (AAPL) as Wall Street’s most valuable company. The stock’s rally follows recent comments from CEO Jensen Huang and the chipmaker’s partners touting an intense need for the company’s AI chips.

Other AI chip and hardware stocks Arm (ARM), Qualcomm (QCOM), Broadcom (AVGO), Super Micro Computer (SMCI), Astera Labs (ALAB), and Micron (MU) have risen, too, as the companies have given separate indications of strong demand for their products, thanks to the AI boom. TSMC (TSM) stock also closed at a record high Monday.

All in all, the PHLX Semiconductor Index (^SOX) is up 4.5% over the past five days, outperforming the S&P 500 (^GSPC), which rose 2.9% over the same time frame.

The upward trajectory of AI chip stocks is a positive sign for AI hardware spending that assuages Wall Street’s concerns of a near-term slowdown on investment.

“While Phase 2 stocks [i.e. AI infrastructure-related stocks, such as Arm, TSMC, and SMCI] appear modestly expensive relative to history, it is possible that the demand for AI leads the mega-cap tech stocks to spend even more on AI-related capex than investors and analysts currently expect,” Goldman Sachs (GS) analysts wrote in their report on Oct. 10.

Google (GOOG), Microsoft (MSFT), Amazon (AMZN), and Meta (META) have all indicated that they will continue to spend large sums on AI infrastructure through next year, to the benefit of AI hardware companies, led by Nvidia. As a whole, mega-cap tech companies are set to spend $215 billion on AI capital expenditures in 2024 and $250 billion in 2025, according to Goldman Sachs.

OpenAI’s recent $6.6 billion funding round is also expected to put cash in the hands of hardware companies — namely Nvidia — as it continues evolving its AI models.

JPMorgan (JPM) analyst Harlan Sur sees revenues for the semiconductor industry growing 6% to 8% in 2024. “We remain positive on semiconductor and semiconductor equipment stocks,” he said in a recent note to investors, “as we believe stocks should continue to move higher in anticipation of better supply/demand in 2H24/25 and stable/rising earnings power trends in CY24/25.”

A slowdown in investment will eventually come, though. The question is when.

Whereas AI software is typically offered on a subscription basis, hardware is a one-time sale. Analysts have warned that AI chip stocks are in a bubble that will eventually burst once Big Tech’s massive spending on AI infrastructure eases.

Story continues

Indeed, tech giants’ most recent earnings reports put on display a widening gap between their hefty spending on artificial intelligence infrastructure and their return on investment — and tested Wall Street’s thinning patience. The stocks of Google, Microsoft, and Amazon all fell late this summer following their quarterly financial reports, which showed billions in AI spending.

“We continue to believe that spending on data center infrastructure will be strong this year and possibly into next year,” D.A. Davidson analyst Gil Luria told Yahoo Finance in an email, “but that there is an eventual peak of capex spending by the hyperscalers, as early as next [calendar] year.”

Laura Bratton is a reporter for Yahoo Finance. Follow her on X @LauraBratton5.

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Rockville, MD, Oct. 15, 2024 (GLOBE NEWSWIRE) — As per Fact.MR, a provider of market research and competitive intelligence, the global electric truck market is predicted to expand at a CAGR of 14.5% to reach a valuation of US$ 78 billion by the end of 2033.

Electric trucks are commercial vehicles propelled by battery packs and designed for cargo transportation. Notably, these trucks feature fewer moving parts within their motors compared to their diesel counterparts, eliminating the need for complex multi-speed transmissions. This reduction in components not only cuts down vehicle maintenance expenses but also enhances reliability, all while significantly minimizing noise pollution.

Preference for electric trucks over diesel alternatives is spurred by governmental incentives aimed at fostering electric truck adoption, alongside the undeniable benefits they offer, including abundant torque, negligible noise emissions, and reduced maintenance expenditures.

Governments across the world are increasingly recognizing the urgency of reducing carbon emissions and promoting cleaner transportation options. To achieve these goals, various countries have introduced supportive policies, incentives, and subsidies aimed at boosting the adoption of electric vehicles, including electric trucks. These initiatives not only encourage manufacturers to develop electric truck models but also incentivize fleet operators to transition to cleaner alternatives.

Ongoing advancements in electric vehicle battery technology are driving down the cost of electric vehicle batteries. As batteries represent a substantial portion of an electric vehicle’s overall cost, this reduction has a direct impact on the affordability of electric trucks. Lower battery costs not only make electric trucks more accessible to consumers but also enhance their feasibility for commercial fleet operators.

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Key Takeaways from Market Study

• The global market for electric trucks is valued at US$ 19.5 billion in 2023.
• Worldwide demand for electric trucks is predicted to increase at a CAGR of 14.5% through 2033.
• By the end of 2033, the market is anticipated to reach US$ 78 billion.
• Over the forecast period, the Asia Pacific market is expected to expand at a CAGR of 23%.
• In terms of vehicle type, use of light-duty electric trucks is forecasted to rise at a CAGR of 6% through 2033.
• Battery electric trucks command the foremost portion of the market share.

“Electric trucks have gained significant attention and momentum due to increasing concerns about environmental sustainability, need to reduce emissions, and advancements in battery technology. Electric trucks are considered a promising solution to address the transportation sector’s environmental impact, particularly in terms of air pollution and greenhouse gas emissions,” says a Fact.MR analyst.

Leading Players Driving Innovation in the Electric Truck Market:

Key players in the electric truck market are BYD Company Limited, AB Volvo, Daimler AG, Foton Motors Inc., Volkswagen AG, Hino Motors Ltd, Toyota Motor Corporation, Dongfeng Motor Corporation, Navistar, Inc.

Market Competition

Established automotive manufacturers, as well as new entrants and startups, are investing in the development of electric trucks. These companies are focusing on improving technology, expanding product offerings, and addressing the unique challenges posed by electric trucks, such as battery life, charging times, and upfront costs.

• In January 2022, Volvo Group, Daimler Truck, and Traton Group concluded the last phase of establishing their previously announced collaborative venture focused on charging infrastructure in Europe. This joint endeavor intends to deploy and manage a network comprising 1,700 high-capacity charge points powered by sustainable green energy. These charging stations are strategically positioned along highways and near logistics hubs across Europe.

Electric Truck Industry News:

• Dongfeng Rich 6 electric vehicle, an electric pickup truck created in partnership with Nissan, was unveiled by Dongfeng Motor Corporation. An electric motor producing 160 horsepower and 420 Nm of torque powers the car.

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More Valuable Insights on Offer 

Fact.MR, in its new offering, presents an unbiased analysis of the global electric truck market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.

The study divulges essential insights into the market based on propulsion (battery electric trucks, hybrid electric trucks, plug-in hybrid electric trucks, fuel cell electric trucks), vehicle type (light-duty trucks, medium-duty trucks, heavy-duty trucks), range (up to 150 miles, 151 to 300 miles, above 300 miles), and end use (last-mile delivery, long-haul transportation, refuse services, field services, distribution services), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).

Check out More Related Studies Published by Fact.MR:

Motorcycle Filter Market: Size is forecasted to expand at a CAGR of 5.1% to reach a valuation of US$ 6.36 billion by the end of 2034.

Tire Pressure Sensor and Airbag Sensor Market: Size is expected to grow at a compound annual growth rate (CAGR) of 6.7%, from a valuation of US$ 5.56 billion in 2024 to US$ 10.63 billion by 2034.

Automotive Battery Market: Size is expected to grow at a compound annual growth rate (CAGR) of 6.1%, from US$ 52.71 billion in 2024 to US$ 95.29 billion by 2034.

Two Wheeler Accessory Market: Size is set to reach a valuation of US$ 40.64 billion in 2024 and further expand at a CAGR of 5.1% to end up at US$ 66.83 billion by the year 2034.

Recreational Vehicle Market: Size is estimated to be valued at US$ 50.33 billion in 2024 and is forecasted to expand at a CAGR of 4.3% to reach US$ 76.68 billion by 2034.

Motorized Quadricycle Market: Size is set to reach US$ 1.21 billion in 2024 and expand at a CAGR of 14.7% to end up at US$ 4.76 billion by the end of 2034.

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