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Agricultural Micronutrients Market to be Worth $13.35 Billion by 2030

https://finebookmarks.com/story/agricultural-micronutrients-market-to-be-worth-13-35-billion-by-2030-2/

Meticulous Research®—a leading global market research company, published a research report titled, ‘Agricultural Micronutrients Market by Type (Zinc, Iron, Copper, Molybdenum), Crop Type (Cereals and Grains, Fruits and Vegetables), Form (Non-chelated, Chelated), Mode of Application (Soil, Foliar, Fertigation, Seed Treatment) – Global Forecast to 2030.’

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According to this latest publication from Meticulous Research®, the agricultural micronutrients market is projected to reach $13.35 billion by 2030, at a CAGR of 8.4% from 2023 to 2030. The growth of this market is driven by the growing population and rising food insecurity, declining arable land, rising micronutrient deficiency in the soil, and positive outlook of government policies and various organizations encouraging the use of micronutrients. However, the lack of awareness among farmers restrains the growth of this market. Additionally, the sustainable sourcing of raw materials is a challenge for the growth of this market. The growing contract farming is expected to create growth opportunities for the players operating in this market. Additionally, the emergence of nanotechnology in micronutrient fertilization is a major trend in the global agricultural micronutrients market.

The global agricultural micronutrients market is segmented by type, crop type, form, mode of application, and geography.

Based on type, in 2023, the zinc segment is expected to account for the largest share of the global agricultural micronutrients market. The large market share of this segment is mainly driven by the rising awareness of the wide range of functions that zinc plays in plant growth and its deficiency in soils around the world, the rising need to tackle food security challenges, and the rising demand for zinc nutritious food products due to multiple health benefits. Moreover, the increasing government initiatives globally to enhance zinc concentrate in the soil to increase quantitative and qualitative crop yield further support the growth of this segment.

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Based on crop type, in 2023, the cereals & grains segment is expected to account for the largest share of the global agricultural micronutrients market. The large market share of this segment is attributed to the rising demand for food grains due to the growing population, increasing industrial application of cereals & grains, and huge production of staple crops such as wheat, maize, rice, and barley, which form the primary food source for a major population of the world.

Based on form, the chelated micronutrients segment is projected to record the higher CAGR during the forecast period due to its high stability over the non-chelated micronutrients, the growing need to increase micronutrient utilization efficiency, and the development and application of new generations of chelates.

Based on mode of application, in 2023, the soil treatment application segment is expected to account for the largest share of the global agricultural micronutrients market. Soil treatment is the most widely used application compared to other modes of application and is easy and cost-effective. Moreover, this segment is projected to register the highest CAGR during the forecast period. The growth of this market is driven by the rampant use of traditional agriculture methods in the current farming system, the presence of very limited resources, and the lower adoption of advanced fertilizer application methods.

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Based on geography, in 2023, Asia-Pacific accounted for the largest share of the global agricultural micronutrients market. The large market share of this segment is mainly attributed to the huge area under crop cultivation, growing population, increasing demand for high-quality food, and rising focus on agricultural micronutrients to improve crop productivity and crop yield in emerging economies like China and India. Additionally, the increasing agricultural practices and the necessity of high-quality agricultural produce are anticipated to further support the growth of this market. Moreover, this region is projected to register the highest CAGR during the forecast period due to the vast depletion of arable land, rising micronutrient deficiency in soil and a huge area of infertile soil, and the increasing government support for the fertilizer industry.

The key players operating in the global agricultural micronutrients market are AgroLiquid (U.S.), Aries Agro Limited (India), BASF SE (Germany), BMS Micro-Nutrients NV (Belgium), Coromandel International Limited (India), Haifa Group (Israel), Helena Agri-Enterprises, LLC (U.S.), Koch Industries, Inc. (U.S.), Nouryon (Netherlands), Nufarm Limited (Australia), Nutrien Ltd. (Canada), The Mosaic Company (U.S.), VALAGRO S.P.A (Part of Syngenta AG) (Italy), and Yara International ASA (Norway).

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Plant-based Protein Market: Drivers and Applications

https://finebookmarks.com/story/plant-based-protein-market-drivers-and-applications/

Meticulous Research®—a leading global market research company, published a research report titled, ‘Plant-based Proteins Market by Type (Soy Proteins, Wheat Proteins, Pea Proteins, Potato Proteins), Form (Solid, Liquid), Source Process (Conventional, Organic), and Application (Food and Beverages, Animal Feed, Nutritional Supplements) – Global Forecast to 2031.’

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According to this latest publication from Meticulous Research®, the plant-based proteins market is projected to reach $26.45 billion by 2031, at a CAGR of 8.4% from 2024–2031. The growth of the plant-based proteins market is mainly driven by the rising need for protein-rich diets, growing health and wellness trends, increasing consumer focus on meat alternatives, rising demand from the food & beverage industry, and advancements in ingredient technologies, such as microencapsulation. However, the consumer preference for animal-based products and fluctuating raw material prices are expected to hinder the growth of this market.

Furthermore, consumers’ increasing inclination toward plant-based diets, emerging economies, and rising prevalence of intolerance to animal proteins are expected to generate growth opportunities for the players operating in the plant-based proteins market.

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Key Players

The key players operating in the global plant-based proteins market are Archer-Daniels-Midland Company (U.S.), Cargill, Incorporated (U.S.), Roquette Frères (France), Ingredion Incorporated (U.S.), Kerry Group plc (Ireland), International Flavors & Fragrances, Inc. (IFF) (U.S.), Now Health Group, Inc. (U.S.), Tate & Lyle Plc (U.K.), Axiom Foods Inc. (U.S.), AMCO Protein (U.S.), Burcon NutraScience Corporation (Canada), BENEO GmbH (A Part of Südzucker AG) (Germany), Glico Nutrition Co., Ltd (Japan), Glanbia Plc (Ireland), Cosucra Groupe Warcoing SA (Belgium), Sotexpro (France), Farbest-Tallman Foods Corporation (U.S.), Crespel & Deiters GmbH & Co. KG (Germany), Wilmar International (Singapore), and CHS Inc. (U.S.).

TOP 10 COMPANIES IN PLANT BASED PROTEIN MARKET >> https://meticulousblog.org/top-10-companies-in-plant-based-protein-market/?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=27-03-2024

The global plant-based proteins market is segmented by type, form, source process, application, and geography.

Based on type, the global plant-based proteins market is segmented into soy proteins, wheat proteins, pea proteins, canola proteins, potato proteins, rice proteins, corn proteins, and other types. In 2024, the soy proteins segment is expected to account for the largest share of the global plant-based proteins market. The large market share of this segment is mainly attributed to its easy availability, lower price of soy protein than other protein sources, increased demand for meat protein alternatives, a wide range of applications in various products, greater consumer awareness, and multiple health benefits.

Based on form, the global plant-based proteins market is categorized into solid (dry) and liquid. In 2024, the solid segment is expected to account for the larger share of the global plant-based proteins market. The large market share of this segment is attributed to the increasing demand for powdered plant-based protein due to its benefits, such as ease of handling and transport, comparatively lower costs, low chances of formulation errors, and ingredient stability. This segment is also expected to register the highest CAGR during the forecast period.

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Based on source process, the global plant-based proteins market is broadly segmented into conventional plant-based protein ingredients and organic plant-based protein ingredients. In 2024, the conventional plant-based protein ingredients segment is expected to account for the larger share of the global plant-based proteins market. The large market share of this segment is attributed to the widespread availability of crops cultivated through traditional harvesting methods (utilizing chemical fertilizers), the easy accessibility to cost-effective conventional plant-based protein ingredients, the extended shelf life of these proteins, and the availability of a diverse range of crop varieties.

Based on application, the global plant-based proteins market is segmented into food & beverage, animal feed, nutrition & health supplements, pharmaceuticals, and other applications. In 2024, the food & beverage segment is expected to account for the largest share of the global plant-based proteins market. The large market share of this segment is mainly attributed to increasing consumer preference for plant-based foods and ingredients, growing awareness and demand for protein-rich food products, plant-based proteins' versatile functionality and compatibility with vegetarian and vegan lifestyles, and the rising clean-label trend.

Based on region, the global plant-based proteins market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, North America is expected to account for the largest share of the global plant-based proteins market. The leading position of this region is primarily attributed to the well-established food and beverage industry, rising concerns over animal products and protein, increasing vegan population, growing preference for meat alternatives, and increasing demand for healthy & nutritional products and health & wellness trends.

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Related Report:

The Asia-Pacific Plant-Based Protein Market is expected to reach $7.27 billion by 2030, at a CAGR of 12% during the forecast period of 2023 to 2030. >> https://www.meticulousresearch.com/product/asia-pacific-plant-based-protein-market-5666?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=27-03-2024

The North America Plant-based Protein Market is expected to reach $11.32 billion by 2030, at a CAGR of 9.7% during the forecast period of 2023 to 2030.>> https://www.meticulousresearch.com/product/north-america-plant-based-protein-market-5637?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=27-03-2024

The Europe Plant-based Protein Market is expected to reach $7.83 billion by 2030, at a CAGR of 8.9% during the forecast period of 2023 to 2030.>> https://www.meticulousresearch.com/product/europe-plant-based-protein-market-5608?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=27-03-2024

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Meticulous Research® Unveils Exclusive Report Forecasting the “Industrial Asset Management Market” to Surpass $14.4 Billion by 2029

https://finebookmarks.com/story/meticulous-researchr-unveils-exclusive-report-forecasting-the-industrial-asset-management-market-to-surpass-14-4-billion-by-2029/

Meticulous Research® Unveils Exclusive Report Forecasting the “Industrial Asset Management Market” to Surpass $14.4 Billion by 2029

Meticulous Research®, a renowned global market research company, has released an exclusive report titled, ‘Industrial Asset Management Market by Offering, Deployment Mode, Asset Type, and End-use Industry (Food & Beverage, Pharmaceuticals, Biotechnology, Medical Devices, and Other Industries), and Geography—Global Forecast to 2029.’ The comprehensive report predicts that the global industrial asset management market is poised to achieve a valuation of $14.4 billion by 2029, showcasing a remarkable Compound Annual Growth Rate (CAGR) of 12.2% from 2022 to 2029.
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Industrial Asset Management: Navigating Efficiency and Planning for Future Needs
Industrial Asset Management (IAM) is a sophisticated system designed for tracking and maintaining industrial assets, including machines, tools, and equipment. Deployed in manufacturing and various industrial settings, IAM assists companies in asset management, enabling them to plan for future needs and efficiently meet customer demands. By employing IAM solutions, manufacturing companies can enhance operational efficiency, reduce maintenance costs, and streamline asset-related processes.
Market Dynamics and Growth Factors
The market's growth is attributed to the advantages offered by cloud based IAM solutions and the escalating demand for real-time monitoring of industrial assets. However, concerns surrounding data security and confidentiality act as growth inhibitors. The integration of advanced technologies such as artificial intelligence, machine learning, and 5G, along with the increasing adoption of IAM solutions in the pharmaceutical sector, present significant growth opportunities. Challenges include the lack of infrastructure and IT capabilities. Additionally, the report highlights the rising trend of integrating predictive analytics as a major trend in the IAM market.
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Technological Advancements Shaping the Future
The integration of artificial intelligence, machine learning, and 5G technologies is identified as a key driver for industrial asset management market growth. The ongoing digitization across verticals is creating new opportunities for organizations to optimize and extend asset lifecycles. Technologies like AI, ML, NLP, big data analytics, 5G, IoT, and cloud computing are transforming the IAM landscape, improving operational support, automation, and client servicing.
Segmentation Insights
The global industrial asset management market is segmented based on offering (solutions, services), deployment mode (on-premises, cloud-based), asset type (conventional assets, automation assets), and end-use industry (food & beverage, chemicals, automotive manufacturing, pharmaceuticals, biotechnology, medical devices, metal & mining, energy & power, aerospace & defense, electronics & semiconductors, and other industries).
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Key Highlights:
1. Offering: In 2022, the solutions segment accounted for the larger market share, driven by the increasing demand for cloud-based IAM solutions, cost reduction initiatives, and the need for a comprehensive 360-degree view of assets. The solutions segment is projected to register the highest CAGR during the forecast period.
2. Asset Type: The automation assets segment dominated the market in 2022, attributed to the growing demand for efficient inventory tracking, centralized vendor management, and reduced maintenance costs. This segment is expected to register the highest CAGR during the forecast period.
3. Deployment Mode: In 2022, the on-premises deployment segment held the larger market share due to higher data security and privacy. However, the cloud-based deployment segment is expected to witness the highest CAGR during the forecast period.
4. End-use Industry: The pharmaceuticals segment is projected to register the highest CAGR, driven by the increasing need for real-time asset visibility, equipment maintenance optimization, and FDA compliance in drug development.
5. Geography: Asia-Pacific accounted for the largest market share in 2022, with significant contributions from prominent players and a surge in demand for cost-effective IAM solutions. The region is projected to register the highest CAGR during the forecast period, driven by infrastructural growth, especially in China, South Korea, Japan, and India.
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Scope of the Report
The report provides an in-depth analysis of the industrial asset management market, covering offerings, deployment modes, asset types, end-use industries, and geographic regions. It evaluates industry competitors and analyzes the market at the regional and country levels.

Key Players and Future Outlook
The key players operating in the global industrial asset management market include ABB Ltd, Siemens AG, Schneider Electric SE, Emerson Electric Co., Endress+Hauser Group Services AG, General Electric, Honeywell International Inc., Rockwell Automation, Inc., SKF Group, and Yokogawa Electric Corporation.

TOP 10 COMPANIES IN INDUSTRIAL ASSET MANAGEMENT MARKET >> https://meticulousblog.org/top-10-companies-in-industrial-asset-management-market/

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Dental 3D Printing Market to be Worth $13.4 Billion by 2030

https://finebookmarks.com/story/dental-3d-printing-market-to-be-worth-13-4-billion-by-2030/

Meticulous Research®—a leading market research company, published a research report titled, ‘Dental 3D Printing Market by Product (Service, Printer, Scanner), Technology (Polyjet, Fused Deposition Modeling, SLS), Material (Polymers, Metals, Ceramics), Application (Orthodontics, Prosthodontics, Implantology), End User – Global Forecast to 2030.'

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According to this latest publication from Meticulous Research®, the dental 3D printing market is projected to reach $13.4 billion by 2030, at a CAGR of 20.9% from 2023 to 2030. The growth of this market is driven by the increasing adoption of 3D printing in dentistry, technological advancements, and the rising prevalence of dental diseases. In addition, the rising adoption of CAD/CAM technology and increased use of resins for dental 3D printing are offering opportunities for market growth opportunities. However, the high costs of 3D printers are hindering the growth of this market.

The dental 3D printing market is segmented by product (services, systems [dental 3d printers, dental 3d scanners], accessories), technology (vat photopolymerization, polyjet technology, fused deposition modeling, selective laser sintering, and other technologies), material (dental polymers [resins, thermoplastics, and other dental polymers], metals, ceramics [zirconia, alumina, and other ceramics], plastics, and other materials), application (prosthodontics, orthodontics, implantology, and other applications), end user (dental laboratories, dental hospitals & clinics, and academic & research institutes), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa).

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Based on offering, in 2023, the services segment is expected to account for the largest share of the market. The number of dental 3D printing service providers has increased over the years. Dental 3D printing services provide advantages such as high turnaround time, low cost, high precision, and accuracy in dental practices. The large market share of this segment is attributed to the trend of outsourcing dental designing.

Based on technology, in 2023, the vat photopolymerization segment is expected to account for the largest share of the dental 3D printing market. Vat photopolymerization is a highly preferred dental 3D printing technology that creates dental implants at high speed and high resolution. It is an additive manufacturing technology that is fast, accurate, and used for printing highly customized prototypes. The use of this technology is the highest in dental 3D printing as the manufacturing of dental orthotics, prosthetics, and implants are highly customizable.

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Based on materials, the dental 3D printing market is segmented into dental polymers, metals, ceramics, plastics, and other materials. The dental polymer segment is further segmented into resins, thermoplastics, and other dental polymers. The resins segment is projected to register the highest CAGR over the forecast period. The use of dental polymeric resins is growing for replacing and restoring tooth structure. These polymeric resins can bond with other resins such as composite resins and restorative materials like amalgam. The bonding of these resins is used to improve several problems, such as gaps or cracks between teeth, cavities/tooth decay, crooked teeth and discoloration. Hence, the adoption of resins is growing due to their high translucency, high compressive strength, and ease of application.

Based on application, the orthodontics segment is projected to register the highest CAGR over the forecast period. The adoption of 3D printing is rapidly growing in orthodontic practices due to the technological advancements in orthodontic devices and subsequent use of 3D printing in orthodontics, supporting the growth of this segment.

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Based on end user, in 2023, the dental laboratories segment is expected to account for the largest share of the dental 3D printing market. The low production costs allow the high adoption of new advanced technologies like additive manufacturing in the dental labs, higher demand for dental framing solutions which can be easily customized or fabricated, supports the large market share of this segment.

Based on geography, in 2023, North America is expected to account for the largest share of the dental 3D printing market. The presence of several leading market players, accessibility to cavity/tooth decay treatments, high adoption of 3D printing technologies, and high burden of the aging population in North America with edentulism are the factors supporting the large share of this market.

Key Players

The key players profiled in the dental 3D printing market report are 3D Systems Corporation (U.S.), DENTSPLY SIRONA Inc. (U.S.), Stratasys Ltd. (Israel), Straumann Holding Ag (U.S.), Shandong Huge Dental Materials Corporation (China), Ultradent Products, Inc. (U.S.), SLM Solutions Group AG (Germany), Formlabs Inc. (U.S.), (Desktop Metal, Inc. ) a subsidiary of EnvisionTec Inc. (U.S.), Keystone Industries (U.S.), 3M Company (U.S.), and DWS S.r.l. (Italy).

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Live Streaming Market: Application and Trend

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Meticulous Research®– a leading global market research company published a research report titled “Live Streaming Market by Component (Platform, Services), Offering Model (B2B, B2C), Streaming Type (Audio, Video, Game), Vertical (Media & Entertainment, Education, Sports & Gaming, Government, Fitness), and Region – Global Forecast To 2028.”

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According to this latest publication from Meticulous Research®, the live streaming market is expected to grow at a CAGR of 22.4% to reach $4.26 billion by 2028. The growth of the market is majorly attributed to the surging popularity of e-sports and video games, growing preference for live streaming over social posts, increasing adoption of smartphones coupled with faster internet, and increasing need for live streaming technology for better brand engagement.

In addition, the growing need for optimizing network bandwidth and increasing consumer base for live streaming content are expected to offer significant growth opportunities for players operating the live streaming market. Apart from this, incorporating advanced technologies in the digital media industry is the new trend in the live streaming market. However, fake traffic on live-streaming sites, connectivity, and production issues can obstruct the growth of this market to some extent.

The market is segmented on component, offering model, streaming type, vertical, and geography. The study also evaluates industry competitors and analyses the market at the country level.

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Based on component, the live streaming market is segmented into platforms and services. Among these, the services segment is estimated to account for the largest share of the overall live streaming market in 2021. The large share of the segment is mainly attributed to the rising demand for ensuring seamless delivery of content, need for professional post-production support to help deliver content based on client specifications and provide a personalized experience to viewers, increasing need for testing and confirmation of successful live streaming, and surging demand for video production, advertising, customer support, content creation services, and subscription services.

Based on offering model, the live streaming market is segmented into business-to-business (B2B) and business-to-consumer (B2C). In 2021, the B2C segment is estimated to account for the largest share of the overall live streaming market. The large share of the segment is mainly attributed to the increasing need for transmission of live content on the Internet for better brand engagement and the growing adoption of smart devices coupled with faster internet penetration.

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Based on streaming type, the live streaming market is segmented into audio, video, and game streaming. In 2021, the video streaming segment is estimated to account for the largest share of the overall live streaming market. The large share of the segment is mainly attributed to the rising customer online data consumption & evolving surfing behavior, growing use of influencers to drive new applications & attract new customers for branding & marketing, growing adoption of cloud-based solutions to increase the reach of live video content, and growing popularity of social media platforms & other digital mediums.

Based on vertical, the live streaming market is segmented into media & entertainment, enterprises, education & e-learning industry, sports & game industry, government, fitness industry, religious organizations, and other verticals (retail, BFSI, & healthcare). Among these, the media & entertainment sector is estimated to account for the largest share and highest CAGR of the overall live streaming market in 2021. The large share of the segment is mainly attributed to the growing popularity of online live video streaming in the media & entertainment industry, rising technological advancements, growing adoption of cloud-based video streaming solutions, and the growing use of AI for increasing the reach of video content, improve video quality, and provide security.

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Geographically, the live streaming market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The Asia-Pacific region is estimated to account for the largest share of the global live streaming market in 2021. The large share of this segment is mainly attributed to the rising focus on digitalization with technological advancements, including cloud computing, AI, & 5G technology in the digital media industry, increasing consumer base for live streaming content in industry verticals, including education & e-learning, increasing adoption of smartphones coupled with high internet penetration, and surging adoption of live-streaming platforms for better brand engagement.

The key players operating in the global live streaming market are Flux Broadcast (U.K.), Facebook Inc. (Instagram) (U.S.), Dacast (U.S.), Twitch Interactive, Inc. (U.S.), IBM Corporation (U.S.), Huya Inc. (China), Stream Hatchet SLU (Spain), Empire Video Productions, LLC (U.S.), Afreecatv Corp. (South Korea), Streamshark (Australia), Dailymotion (France), Vimeo, Inc. (U.S.), TikTok (U.S.), EventStreaming.TV (WaveFX Ltd.) (U.K.), Pluto Inc. (U.S.), Boxcast (U.S.), VosCast (U.S.), Uplynk (U.S.), and Wowza (U.S.), among others.

TOP 10 COMPANIES IN LIVE STREAMING MARKET >> https://meticulousblog.org/top-10-companies-in-live-streaming-market/?utm_source=article&utm_medium=social&utm_campaign=product&utm_content=19-03-2024

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Automotive Lubricants Market: Vehicle Type, and Applications

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Meticulous Research®—a leading global market research company, published a report titled, 'Automotive Lubricants Market by Product Type (Engine Oil, Transmission & Hydraulic Fluids, Gear Oil, Grease, Chain Oil, Brake Fluids), Vehicle Type, Composition, Sales Channel, and Geography – Global Forecast to 2030.’
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According to this latest publication from Meticulous Research®, the automotive lubricants market is projected to reach $114.2 billion by 2030, at a CAGR of 7.8% during the forecast period. The growth of the automotive lubricants market is driven by the growing demand for high-performance lubricants, the rapid development of transportation infrastructure, the growing automotive industry with increasing vehicle production, and the rising adoption of sustainable lubricants. However, the reduced need for automotive lubricants due to the penetration of electric vehicles and the volatile nature of the prices of raw materials may restrain the market’s growth.

The significant growth opportunities from emerging economies and the rising demand for environment-friendly lubricants are expected to offer significant growth opportunities for the automotive lubricants market. However, the need for producing compatible lubricants for EVs and hydrogen fuel cell engines and the volatile pricing of automotive lubricants may hinder the growth of this market. Furthermore, the increasing need for thinner engine oil is the latest trend in the automotive lubricants market.

Meticulous Research® has segmented this market based on product type, vehicle type, composition, sales channel, and geography for efficient analysis. The study also evaluates industry competitors and analyses the market at the regional and country levels.
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Based on product type, the automotive lubricants market is segmented into engine oil, transmission & hydraulic fluids, gear oil, grease, chain oil, brake fluids, and other products. In 2023, the engine oil segment is expected to account for the largest share of the automotive lubricants market. The large market share of this segment is attributed to the rising need to improve the fuel efficiency of ICE vehicles, high demand for engine oil replacements from the automobile aftermarket segment, and growing demand for maintaining proper engine operation and reducing fuel consumption & CO2 emissions. However, the grease segment is projected to register the highest CAGR during the forecast period.

Based on vehicle type, the automotive lubricants market is segmented into internal combustion engine vehicles, electric vehicles, natural gas engines, and hydrogen-powered vehicles. In 2023, the internal combustion engine vehicles segment is expected to account for the largest share of the automotive lubricants market. The large market share of this segment is attributed to the technological developments in terms of efficiency and performance to boost the product demand for higher-performing IC engines, stringent government regulations related to emissions, and the consistently rising demand to accelerate the growth of high-performance IC engines. However, the electric vehicles segment is projected to register the highest CAGR during the forecast period.
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Based on composition, the automotive lubricants market is segmented into mineral oil lubricants, fully synthetic oil lubricants, and semi-synthetic lubricants. In 2023, the fully synthetic oil lubricants segment is expected to account for the largest share of the automotive lubricants market. The large market share of this segment is attributed to the advantages of high-performance and advanced engines, low overall viscosity and reduced friction in the fluid, their ability to provide high-quality lubrication, and the growing need for better fuel economy and reduced vehicle emissions. In addition, this segment is projected to register the highest CAGR during the forecast period.

Based on sales channel, the automotive lubricants market is segmented into original equipment manufacturers and aftermarket. In 2023, the aftermarket segment is expected to account for the largest share of the automotive lubricants market. The large market share of this segment is attributed to the increasing need for car ownership, especially in emerging economies, the presence of a huge customer base, stringent government regulations related to CO2 emission, and the rising consumer awareness regarding the use of lubricants to maintain vehicle efficiency and achieve better fuel economy. In addition, this segment is projected to register the highest CAGR during the forecast period.

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Based on geography, the automotive lubricants market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, Asia-Pacific is expected to account for the largest share of the market. The large share of this market share is attributed to the rapid growth in the automotive industry, the growing transportation industry, and strong government support to promote the automotive industry. In addition, the presence of key lubricants and auto manufacturers and the abundant availability of raw materials in the region further supports the growth of the automotive lubricants Asia-Pacific market. In addition, this region is projected to register the highest CAGR during the forecast period.

The key players operating in the automotive lubricants market are Shell International B.V. (Subsidiary of Shell Plc) (Netherlands), Exxon Mobil Corporation (U.S.), FUCHS PETROLUB SE (Germany), Motul (France), Phillips 66 Company (U.S.), Repsol, S.A. (Spain), SK Enmove Co., Ltd. (South Korea), China National Petroleum Corporation (China), Klüber Lubrication München Se & Co. KG (Subsidiary of Freudenberg Group) (Germany), Amsoil Inc. (U.S.), Petróleo Brasileiro S.A. — Petrobras (Brazil), Valvoline Inc. (U.S.), Sinopec India(China), Chevron Corporation (U.S.), BP P.L.C. (U.K.), and Castrol Limited (U.K.).

TOP 10 COMPANIES IN AUTOMOTIVE LUBRICANTS MARKET >> https://meticulousblog.org/top-10-companies-in-automotive-lubricants-market/?utm_source=linkedin&utm_medium=social&utm_campaign=product&utm_content=08-03-2024