Persistence Market Research

  The  inflatable boat market  is projected to grow from US$ 2.25 billion in 2024 to US$ 2.94 billion by 2031, with a CAGR of 3.9%. This growth is driven by the increasing popularity of recreational activities, such as water sports and outdoor adventures, where inflatable boats are valued for their portability, light weight, and ease of use. Additionally, the rising number of water sports accidents is likely to spur demand for boats equipped with innovative safety features. North America is expected to lead the market with a share of 34% in 2024, driven by high demand in both leisure activities and rescue operations. The rigid inflatable boat segment is projected to dominate, with a CAGR of 3.8%, favored for its durability and performance. The leisure segment is expected to hold the largest share of the market, accounting for 40% in 2024, as governments invest in water sports infrastructure to attract tourists. Introduction: The Rise of Inflatable Boats in Modern Watercra...

  The global  Bicycle Tire Market  is projected to grow from US$ 9,158.6 Mn in 2024 to US$ 16,361.6 Mn by 2032, driven by factors such as rising fuel prices and the increasing popularity of bicycles as an eco-friendly alternative. The market is expected to grow at a CAGR of 7.8% from 2025 to 2032, spurred by expanding bicycle fleets, the growth of electric bicycles, and increasing participation in cycling events. Additionally, the introduction of airless tires is expected to provide further growth opportunities, addressing concerns like tire punctures and environmental impact. China dominates the East Asian market, while Germany shows strong growth potential in Europe. Despite challenges like environmental regulations, the overall outlook remains optimistic. The bicycle tire market has been undergoing significant transformations, driven by technological advancements, sustainability initiatives, and evolving consumer preferences. Leading players in the industry are making ...

    The global  automotive steering system market  is projected to grow at a CAGR of 4.8%, reaching US$32.5 billion by 2030, up from US$23.4 billion in 2023. This growth is driven by advancements in steering technologies such as electric, hydraulic, and electro-hydraulic power steering, with increasing demand for electric vehicles (EVs) playing a pivotal role. As EVs become more prevalent, the shift toward energy-efficient systems like electric power steering (EPS) is fostering innovation. Additionally, the rise of autonomous driving technology and stricter global safety regulations further boost the market, as automakers invest in advanced steering systems that enhance vehicle safety and comfort. The automotive industry is undergoing a  technological revolution , with next-generation steering systems playing a  pivotal role  in shaping the future of mobility.  Steer-by-wire (SBW) technology and advanced driver-assistance systems (ADAS)  are ...

  The global  automotive turbocharger market  is projected to grow at a CAGR of 7.8%, increasing from US$17.2 billion in 2023 to US$29.1 billion by 2030. Turbochargers, which boost engine performance by introducing additional air into the combustion chamber, enhance fuel economy and overall engine efficiency. Driven by stringent emission regulations, the need for downsized engines, and rising demand for high-performance vehicles, the market is experiencing significant growth. Consumers are also becoming more aware of the benefits of turbocharged engines, such as improved fuel efficiency and power, further fueling market expansion. Rising Demand for Turbocharged Engines Driving Market Growth The demand for turbocharged engines is surging as consumers and manufacturers seek better fuel efficiency without compromising performance. Turbochargers enable smaller engines to produce greater power by forcing more air into the combustion chamber, optimizing fuel combustion. This te...

  The   specialties of the lube oil refinery market   is forecasted to grow from US$ 32.5 billion in 2025 to US$ 41.2 billion by 2032, with a CAGR of 3.5%. The demand for high-performance lubricants across the automotive, industrial, and marine sectors drives this growth. Regulatory pressures, like the EU’s Green Deal, are encouraging manufacturers to shift towards eco-friendly, bio-based lubricants. North America is expected to hold the largest market share, thanks to its strong industrial base, while Asia Pacific is gaining momentum due to industrial growth. The fully refined wax segment is projected to dominate due to its versatility and high purity. As sustainability becomes a priority, companies are investing in re-refining technologies and innovative bio-based solutions. The demand for lube oil refineries varies across countries due to diverse industrial needs, automotive trends, and regional economic factors. As the world continues to experience economic growth and...

  The global  field service management (FSM) market  is projected to reach US$ 4.58 billion in 2024 and grow at a 12.3% CAGR to US$ 10.31 billion by 2031. Increasing demand for mobile-driven solutions in industries like energy, utilities, and construction is driving expansion. AI, IoT, and cloud technologies are enhancing automation, efficiency, and customer experience. Cloud deployment holds a 65% market share due to its scalability and cost benefits. North America leads with a 69% share, while Europe is advancing through digital transformation. Major players like Salesforce and SAP SE continue to drive FSM innovation. Market Overview: Growth Trajectory and Key Drivers The FSM market in Asia-Pacific is anticipated to grow at an impressive compound annual growth rate (CAGR), driven by increasing demand for automation, the rise of connected devices, and the adoption of data-driven decision-making. Countries such as China, India, Japan, and Australia are at the forefront of...

  The  U.S. small autonomous pleasure boat market  is expected to grow from US$ 289.7 million in 2025 to US$ 639.7 million by 2032, driven by a 12% CAGR. Advancements in autonomous navigation, GPS-based systems, and collision avoidance technologies are fueling this demand. A growing interest in smart boats featuring remote controls, real-time weather data, and automatic docking is accelerating the market. The West U.S., with its eco-conscious regulations and large boating community, is projected to lead the market. The shift to electric and hybrid boats and rising demand for recreational boating are also key factors. Fully autonomous boats are anticipated to dominate with 57% market share in 2025, offering convenience and safety. The U.S. small autonomous pleasure boat market is poised for significant expansion over the next decade, driven by advancements in artificial intelligence, automation, and growing consumer interest in recreational boating. As autonomous technolog...

  The  U.S. hot briquetted iron (HBI) market  is projected to grow from US$ 891.8 Mn in 2025 to US$ 1,346.4 Mn by 2032 at a 6.1% CAGR. The shift to Electric Arc Furnaces (EAFs), expected to produce 75% of U.S. steel by 2030, is fueling demand for HBI due to its high iron content and lower carbon footprint. Government infrastructure projects, rising exports to Europe and Asia, and strategic partnerships are further driving growth. The Midwest, holding a 39% market share in 2025, benefits from strong logistics and steel hubs. Hydrogen-based DRI technology, cutting CO₂ emissions by 90%, is making HBI a key player in sustainable steelmaking. Key industry players are making  strategic moves  to solidify their market positions, improve production efficiency, and drive innovation. These strategies include capacity expansions, partnerships, technological advancements, and investments in  sustainable steelmaking processes . This article explores how these leading co...