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BOSTON, Dec. 9, 2020 /PRNewswire/ — The COVID-19 pandemic has caused 2020 to become the pivotal year as the automotive industry goes through a once in a hundred-year transformation. Overall, we expect global car sales in 2020 to crash by roughly 20%, yet plug-in electric cars (battery-electric and plug-in hybrid) to grow by north of 21%, showing the remarkable resiliency of electric vehicles against the backdrop of economic downturn. This growth is primarily driven by Europe, which is now close to dethroning China as the world’s largest EV market.

Riches have been made this year with the meteoric rise of Tesla’s market cap, while investors in other areas of the car market are reeling. The scrabble has intensified for those wrong-footed with their electric vehicle strategy as governments bring forward the deadline of making gas vehicles obsolete. Some jump into the short-term opportunity of hybrid vehicles – ‘it’ll buy time for now’ – but the end game, driven strongly by governments and people in the quest for reduced emissions, is clear in battery electric vehicles. Sales of plug-in electric cars are a $55 billion business in 2020, $502 billion in 2030 and $1.2 trillion in 2035, according to the IDTechEx master report on electric vehicle markets (www.IDTechEx.com/EV).

As ride-hailing has struggled this year and Uber has pulled out of autonomous vehicles it signifies the intense investment needed in autonomous vehicles, which remain important but the priority is electrification, with governments and buyers creating the demand. IDTechEx’s technical and market analysts have evaluated electric vehicles across land, sea and air to provide the most comprehensive global research and data on the topic. In this article, IDTechEx Research summarizes five key electric vehicle trends as 2021 looms.

US policy to accelerate electric car sales

President-elect Biden has plans to revise the relaxed US emissions standards, a critical policy driver. Emissions standards in Europe have forced electric vehicle investment and model releases from automakers; Europe is the only plug-in car market growing 78% this year, according to IDTechEx Research, with the US expected to decline 7% and China to be flat. In addition, President-elect Biden plans to extend the federal tax credit (which ran out for leaders Tesla and GM in 2018 and 2019, stalling the market). Critically, President-elect Biden also plans to invest in public charging infrastructure. All this means electrification will begin to accelerate in the US after a couple of stagnant years and IDTechEx’s long-term forecast for the US will increase. It is not all plain sailing, however, as the senate is controlled by the Republicans – bipartisan support will be crucial.

Free Money for Tesla

Emissions fines for electric vehicle laggards in Europe result in pouring free money into Tesla. The European policy of 95g of CO2 per km will be fully enforced in 2021; if they are not met, automakers face fines of 95 euros for each g per km of CO2 exceedance, which could amount to billions of euros for laggards. Automakers are allowed to trade credits with one another; in the past, GM and FCA have purchased billions of dollars’ worth of credits from Tesla, which is cheaper than paying the fines. This may itself pay for a significant amount, if not all, of Tesla’s R&D.

Electric Long-haul Trucks Around the Corner

The Tesla Semi release date was pushed back to 2021 as Tesla has struggled to keep to production timelines whilst prioritizing the production of electric cars. Hydrogen also faces setbacks, with Nikola pushing back the Nikola 2 to 2023 and announcing it will first release battery-electric models (before the Trevor Milton drama). So, zero-emission long-haul trucking is a little bit further round the corner than previously predicted, but 2021 will be an interesting year for understanding the effectiveness of batteries as a solution in this segment. OEMs Daimler and Volvo are also increasingly demonstrating their commitment to zero-emission trucks, initially with battery-electric vehicles for short-haul routes, but fuel cells are also on the agenda later  (for more information please visit www.IDTechEx.com/eTrucks).

Like your phone, fit the battery to the space

In 2020, announcements signaled that the end of the battery module may be near. Removing the battery module could become the low hanging fruit for automakers to increase ‘pack level’ energy density without cell-level improvements, simply by removing module casings and other redundant module materials. This will be easier for startups which are more vertically integrated, but incumbent OEMs will be limited by legacy designs and long development timescales. For more information on battery pack level innovations and corresponding materials demand, please visit www.IDTechEx.com/EV-Mat.

Electric vans / light commercial vehicles (LCV) emerging in the US

Following Ford’s reveal for an E-Transit electric delivery van, set for production in 2022, it is poised to be the first major OEM to enter the US market with an electric LCV. IDTechEx expect other US OEMs to follow suit in 2021 considering the extra impetus from the California Air Resources Board’s Advanced Clean Trucks Regulation. Competition for Ford seems most likely to come from GM, which announced in June 2020 the development of an all-electric van – the BV1. Daimler could launch a bigger battery version of their eSprinter in the US (though Mercedes have said the current EU eSprinter doesn’t meet US safety requirements), Chrysler a RAM badged version of the Fiat E-Ducato, and Nissan the e-NV200. EV start-up Rivian are also scheduled to deliver up to 10,000 electric vans for Amazon by 2022. For more information please visit www.IDTechEx.com/eLCV.

Follow IDTechEx Research as we scrutinize the mobility market as events unfold. For more about our electric vehicle research, please see the new IDTechEx report «Electric Vehicles: Land, Sea and Air 2021-2041«, which puts IDTechEx’s core electric vehicle forecasts in one place: unit sales, battery demand, market sizing and more. Each chapter summarizes the main drivers, trends and forecasts for a vehicle subsegment (two-wheelers, cars, vans / LCV, trucks, buses, leisure boats, commercial short and deep-sea ships, manned aircraft) or enabling technology (Li-ion batteries, electric motors).

IDTechEx offers a wide range of technical market research reports covering most aspects of electric vehicles, building on our long history of analyzing these technologies, markets, and applications (www.IDTechEx.com/Research/EV). All reports include detailed analysis of established and emerging technologies, their potential adoption barriers and suitability for different applications, and an assessment of technological and commercial readiness. IDTechEx reports also include multiple company profiles based on interviews with early-stage and established companies, along with 10-year market forecasts. A full list of IDTechEx’s reports can be found at www.IDTechEx.com/research.  

IDTechEx guides your strategic business decisions through its Research, Consultancy and Event products, helping you profit from emerging technologies. For more information on IDTechEx Research and Consultancy, contact research@IDTechEx.com or visit www.IDTechEx.com.

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MONACO, Dec. 9, 2020 /PRNewswire/ — 

The Next Step

The Monaco-based Formula E team, ROKiT Venturi Racing is pleased to announce that an investor group, led by Scott Swid and José M Aznar Botella, has purchased the team whilst Team Principal Susie Wolff and Founder Gildo Pastor retain an interest.

The new ownership structure and investment underscore the continued positive momentum of the team since Wolff took over the helm in June 2018 and signifies the start of a compelling new era for the team.

The investment is testimony also to the continued progression and commercial appeal of ROKiT Venturi Racing and the Formula E World Championship as a global business platform.

Susie Wolff will continue in her current role as Team Principal, working alongside recently appointed Deputy Team Principal Jérôme d’Ambrosio.

With decades of global investment experience, Scott and José will reunite on this endeavour to bring a fresh perspective to the Monegasque marque.

The new structure represents a significant step forward for the team, which will continue to race under the Venturi name and will remain headquartered in Monaco.

In Their Words

Gildo Pastor, President, Venturi:

«Two and a half years ago, I put my absolute faith in Susie, her vision for the team, and her undisputed tenacity to bring that vision to life. We have met so many milestones along our journey so far, including our first race victory, our first title partnership with ROKiT and the addition of our powertrain partnership with Mercedes-Benz in a strategic response to the rapid evolution of the championship. Now we have a new and forward-thinking investor group, led by Scott and José, who see and feel the potential in the series and team as I do.

«As the focus of my attention moves away from the racetrack to the proving ground where we continue to raise the bar with record breaking electromobility, and to the sky with our equally pioneering space endeavours, I know that the team is in very safe hands.»

Susie Wolff, Team Principal & Managing Partner, ROKiT Venturi Racing:

«We move forward into our next chapter as a team under the new ownership led by Jose and Scott and I am pleased to become a Managing Partner alongside my role as Team Principal. The investment experience of Scott and Jose will strengthen the team’s capabilities and provide us with interesting new perspectives and opportunities for the future. This move also demonstrates the positive role that the forthcoming cost cap has to play in the commercial viability and therefore appeal of the sport to investors and partners. I want to also take this opportunity to thank Gildo for his trust and unwavering support. I have thoroughly enjoyed working with such a visionary and have no doubt that Gildo will continue to push the boundaries of sustainable mobility far beyond what many dare to deem possible.»

Scott Swid, Chairman, Managing Partner, ROKiT Venturi Racing:

«Initially, we were looking at Formula 1 from an investment perspective – but understandably José is a big believer in the potential of Formula E and introduced me to Susie. From our first meeting, I could see the unique business case the sport and the team present. Investing in Venturi, with its heritage as an original team guided by the visionary Gildo Pastor, and competing in an exciting sport that promotes global sustainability and pioneering electric mobility is a great opportunity. Every forward-thinking corporate board in the world is cognisant of the importance of sustainability and is looking for ways to invest in its future. Formula E is in its intermediate stage, having successfully overcome the hurdles of its early period. With this strong foundation, it is a great time to invest when the championship is established and there is still so much growth to come.»

José M Aznar, Managing Partner, ROKiT Venturi Racing:

«I’ve had a unique perspective on Formula E since its inception and I was captivated by the vision to promote a more sustainable future through electric racing from the outset. My first real experience of Formula E was at the finale of the inaugural season in Battersea Park back in 2015 and I could feel the appeal immediately. Even back then, I had the feeling that this was something incredibly special that had the potential to be unstoppable – and I was right. What Alejandro and his team have done has fundamentally changed the way that people think about electric mobility. Gildo was right at the forefront from the beginning and his intuition to bring Susie to the team was spot on. We are investing at a critical time in Formula E’s short history and, whilst there is so much potential for further development and commercial expansion, one of the priorities must be an improved partnership between the sport and the teams. Collaborating with Susie and Scott, my longtime friend and mentor, is a great joy for me personally and I look forward to seeing what we can achieve together.»

For further information visit: www.venturiracing.com

RVR Editor‘s Note: About ROKiT Venturi Racing

Demonstrating foresight and vision, ROKiT Venturi Racing was the first team to join the FIA Formula E Championship and is one of only a handful of constant participants still contesting the series.

The appointment of Susie Wolff to the role of Team Principal in June 2018 signalled Venturi’s next significant step by strengthening and optimising its operations in what was becoming an ever-competitive championship.

Under Wolff’s supervision, Venturi recorded its maiden victory at Formula E’s landmark 50th race in Hong Kong which paved the way to the team’s most successful campaign in the series at the close of Season 5.

Ahead of Formula E’s sixth season, Venturi partnered with Mercedes-Benz as its powertrain supplier and announced a three-year title relationship with global telecommunications innovators, ROKiT – a milestone commercial development and an endorsement of the progress of Venturi and the ever-increasing appeal of Formula E as a platform for ground-breaking, premium global brands to showcase their vision.

ROKiT Venturi Racing holds six podium finishes and one victory to date and enters Season 7 with a bright vision for the future in what is motorsport’s premier all-electric and only carbon neutral racing series.

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SAN FRANCISCO, Dec. 9, 2020 /PRNewswire/ — The global forklift market size is expected to reach USD 120.8 Billion by 2027, expanding at CAGR of 12.1% from 2020 to 2027, according to a study conducted by Grand View Research, Inc. Forklifts also called lift trucks or powered industrial trucks, are small truck-like vehicles used to move various types of materials over short distances. They are widely used by retailers in warehouses to manage their storage space efficiently. With online shopping increasing owing to the COVID-19 outbreak, the demand for lift trucks in retail sector is bound to increase. Amid the spread of COVID-19, emergency measures are taken by governments across the world to protect people and ensure their well-being. Strict lockdown measures are implemented in various countries that have paved the way for online shopping. This has increased in the storage of products and led to the demand for material handling equipment such as lift trucks.

Key suggestions from the report:

• The electric type segment is projected to witness a CAGR of over 13.0% in terms of revenue from 2020 to 2027. This is attributable to the stringent emission norms associated with IC engine forklifts
• The class 3 segment held a market share of 37.8% in terms of revenue in 2019. This is due to their ability to quickly unload materials from delivery trucks and are highly preferred for small warehouses
• Asia Pacific is anticipated to witness a CAGR exceeding 13.0% in terms of revenue over the forecast period. This upsurge is attributed to the rising demand for material handling equipment in developing countries such as China and India.

Read 158 page research report with ToC on «Forklift Market Size, Share & Trends Analysis Report By Class (Class 1, Class 2, Class 3, Class 4/5), By Power Source (Internal Combustion Engine, Electric), By Region (North America, Europe, APAC, Latin America, MEA), And Segment Forecasts, 2020 – 2027″ at: https://www.grandviewresearch.com/industry-analysis/forklift-market

Lift trucks play a vital role in the manufacturing sector. They do not directly contribute to the manufacturing of products but are crucial for inventory management and transportation of goods in an efficient manner. They enhance the manufacturing process by ensuring a smooth and organized transfer of raw materials and products over the production line. Lack of skilled labor is expected to impede market growth from 2020 to 2027. However, market players are taking initiatives and are conducting training programs for employees. For instance, Toyota’s forklift dealers offer one on one forklift training at their local dealership centers. Furthermore, the Occupational Safety and Health Administration (OSHA) has various training sessions for forklifts, ensuring a safe work environment. Moreover, the advent of autonomous vehicles for warehouses and manufacturing facilities is anticipated to overcome this challenge and open new avenues for market growth over the next seven years.

The market is moderately fragmented and is characterized by a high degree of competition among major players. These companies are focusing on adopting various growth strategies such as acquisitions and mergers, regional expansions, and launching technologically advanced lift trucks to gain a competitive advantage. For instance, in June 2018, Hyster-Yale Materials Handling, Inc. announced the acquisition of Zhejiang Maximal Forklift Co., Ltd. for USD 90.0 million. Through this acquisition, the company aims to strengthen its low-cost manufacturing capabilities and enhance its product offering and expand its business in China.

Grand View Research has segmented the global forklift market on the basis of class, power source, and region:

• Forklift Class Outlook (Volume, Units; Revenue, USD Million, 2016 – 2027)
• Class 1
• Class 2
• Class 3
• Class 4/5
• Forklift Power Source Outlook (Volume, Units; Revenue, USD Million, 2016 – 2027)
• Internal Combustion Engine (ICE)
• Electric
• Forklift Regional Outlook (Volume, Units; Revenue, USD Million, 2016 – 2027)
• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Asia Pacific
• China
• Japan
• India
• Latin America
• Brazil
• Mexico
• Middle East & Africa

List of Key Players of Forklift Market:

• Anhui Forklift Truck Group Co., Ltd.
• CLARK
• Crown Equipment Corporation
• Doosan Corporation
• Hangcha
• Hyster-Yale Materials Handling, Inc
• Jungheinrich AG
• KION Group AG
• Komatsu Ltd.
• Mitsubishi Logisnext Co., Ltd.
• Toyota Industries Corporation

Find more research reports on  Automotive & Transportation Industry, by Grand View Research:

• Leisure Boat Market – The global leisure boat market size is expected to reach USD 55.27 billion by 2027, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.1% from 2020 to 2027. The increasing popularity of marine and coastal tourism, coupled with the growing inclination toward yachting as a recreational activity, is a primary factor driving the market.
• Military A&D Lifecycle Management Market – Manufacturers of military aerospace and defense (A&D) equipment often have to deal with several complex components. PLM software solutions can potentially enable all these manufacturers with the capabilities that can be implemented with complex systems and facilities and help them in reducing energy consumption. The product lifecycle management software solutions can also aid in carrying out the maintenance processes efficiently and driving down the associated costs.
• Automated Parking Systems Market – Automated parking systems improve space allocation in parking spaces, making it possible for a significant number of vehicles to be parked at several levels. This solves the problem of scarcity of land in congested areas. Owing to these benefits, automated solutions are being increasingly adopted and deployed in several new residential and commercial real estate projects facing a space crunch. Moreover, smart city initiatives across several countries are also driving the demand for advanced and smart automated solutions to reduce parking and pollution problems faced by the local public.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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– The use of luxury shuttle buses for guided tours and sightseeing rounds across world-renowned cities, sites, and towns has driven sales across the global market.

– Development of cultural centers, spread across several acres of land, has necessitated the use of luxury shuttle buses for the comfort and convenience of visitors.

ALBANY, N.Y, Dec. 8, 2020 /PRNewswire/ — Movement of luxury shuttle buses has become a distinct trend across cosmopolitan cities and towns. The recent uptick in the number of people using public transport facilities for their daily commutes has sent ripples across the global luxury shuttle bus market. The use of luxury shuttles has cascaded into multiple industries including transport, tourism, and aviation. The unprecedented demand for shuttle buses can largely be attributed to the changing propensities of the masses.

Besides, the efforts made by government entities towards developing a robust system of public commute has brought luxury shuttle buses under the spotlight of attention. Therefore, the total value of the global luxury shuttle buses market is slated to increase in the years to follow. Shuttle buses have become a brand for the public transport sector, creating fresh inlets for growth across the global market.

This review analyses the core dynamics of growth pertaining to the global luxury shuttle buses market. The total value of the global luxury shuttle buses market is projected to sit at over US$ 6 Bn by 2030-end. Several new entities, especially the ones operating in the automobile industry, are expected to invest in the global luxury shuttle buses market. This projection can be attributed to the lucrative opportunities floating in this market.

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Key Findings of Market Report

Use of Shuttle Buses across Airports and Amusement Parks

The tourism industry is a goldmine of opportunities for vendors operating in the global luxury shuttle buses market. Although the COVID crisis crippled the growth of the industry, several new investments made towards reviving tourism have boded well for key markets. Use of luxury shuttle buses for people to commute across airport terminals has become a resilient trend in the aviation industry. In addition to this, places of tourist visit such as amusement parks and historical centers are also equipped with luxury shuttle buses. The tourism industry is trading convenience and comfort as its core USP, creating new opportunities for vendors existing in the luxury shuttle buses market.

Global Luxury Shuttle Bus Market: Competitive Dynamics

The COVID-19 pandemic disrupted the growth graph of the global luxury shuttle buses market as travel was shut down for several months across multiple regions. However, vendors could also expect a silver lining in the form of renewed demand for safety-oriented shuttle buses. The leading vendors are projected to invest in developing luxury shuttle buses that prioritize social distancing, sanitization, and safe commutes. Besides, several new airports and cultural centers are in the pipeline across cosmopolitan cities. Development of these centers would invariably drive demand for luxury shuttle buses. Henceforth, the revenue index of this market is poised to improve over the forthcoming decade.

Explore 235 pages of superlative research, current market scenario, and extensive geographical projections. Gain insights into the Luxury Shuttle Bus Market (Propulsion: Diesel/Gasoline, Alternate Fuels, Battery Electric Buses, and Hybrid Electric Buses; Seating Capacity: Below 25 Passengers, 26 to 35 Passengers, 36 to 55 Passengers, and 56 Passengers & Above; and Application: Corporate, Government, School Coach, Airport Shuttle, Hospital & Medical Coach, Tourist Coach, and Others) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030 at https://www.transparencymarketresearch.com/luxury-shuttle-bus-market.html

Global Luxury Shuttle Bus Market: Growth Drivers

• Need for easy commute across Universities that span over several acres of land, especially for Ivy League Universities and other renowned institutes.
• Advancements in public transport facilities across developed and developing regions, necessitating the availability of comfortable and convenient shuttles.
• Increase in the fleet of shuttles across airports, large shopping arcades, and cultural centers.
• Growing popularity of electric cars and shuttles, proposed to be added to the public transport fleet.

Analyze global luxury shuttle bus market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study

Global Luxury Shuttle Buses Market: Key Companies

• ARBOC Buses
• Daimler AG
• CNH Industrial N.V.
• Federal Coach
• Grech Motors
• Forest River
• Isuzu Motors Ltd.
• Krystal Shuttle Buses
• Toyota Motor Corporation

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Global Luxury Shuttle Buses Market: Segmentation Categories

Propulsion

• Diesel/Gasoline
• Alternate Fuels
• Battery Electric Buses
• Hybrid Electric Buses

Seating Capacity

• Below 25 Passengers
• 26 to 35 Passengers
• 36 to 55 Passengers
• 56 Passengers & Above

Application

• Corporate
• Government
• School Coach
• Airport Shuttle
• Hospital & Medical Coach
• Tourist Coach
• Others

Explore Transparency Market Research’s award-winning coverage of the Global Automotive & Transport Industry:

Electric Bus Market – The electric bus market is expected to surpass US$ 165 Bn by 2026, expanding at a CAGR of more than 24% during the forecast period. The market for electric buses is anticipated to expand at a significant growth rate during the forecast period, owing to rising concern of society toward the environment.

Pickup Truck Market – Companies in the pickup truck market are increasing their research spending to introduce waterproof speakers in trucks that meet requirements of premium customers who own pickups to achieve an important social status among their social circle. Investments in the marketing of pickup trucks is compared to that of the GDP of a small nation. This is evident since the pickup truck market is projected to reach the ~US$ 950 Bn by the end of 2030.

Lane Keep Assist System Market – Rise in demand for passenger safety, increasing focus of governments of several nations to reduce road accidents, and increasing consumer preference for vehicles equipped with advanced safety systems such as lane keep assist system are expected to boost the demand for lane keep assist system during the forecast period.

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Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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