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Railway System Market Latest Advancements And Business Opportunities up to 2033
The railway system market is valued at US$ 28,278.1 million as of 2023. The market is expected to advance at a CAGR of 4.8% during the forecast period. By 2033, the market is expected to cross an estimate of US$ 45,192.2 million.
Key Takeaways:
The railway system market is holding a valuation of US$ 28,278.1 million in 2023.
The market is expected to surge at a CAGR of 4.8% during the forecast period.
By 2033, the market might reach a valuation of US$ 45,192.2 million.
Based on the regional analysis, North America is expected to be the largest market during the forecast period.
USA market has a share of 21.8%.
Germany market has a share of 4.4%.
Japan market has a share of 5.7%.
Australia market has a share of 1.3%.
China market is expected to grow at a CAGR of 5.7%.
India Market is expected to grow at a CAGR of 7.1%.
UK market is expected to grow at a CAGR of 4.1%.
Based on the application, the passenger transportation currently has the largest market share of 64.8%.
For more information: https://www.futuremarketinsights.com/reports/railway-system-market
Competitive Landscape:
The key players operating in the railway system market are investing on profitable mergers and acquisitions. Apart from that, there are also massive investments being made on the R&D. Furthermore, the key players are also appointing some of the veterans who have not only served this niche, but related niches as well. Moreover, the manufacturers are also taking important steps to work on the sustainability goals.
In December 2022, Alstom had announced that it would be supplying an additional 49 Coradia Stream trains to Renfe in Spain.
Global urbanisation is accelerating, which has increased discretionary income. This has encouraged many people to start purchasing their own cars, which has increased traffic congestion. As a result, people in the workforce, especially, have begun using services like metro lines and electric trains. This could result in a rise in demand for railroad infrastructure during the forecast era.
Additionally, governments all over the globe are spending enormous sums of money upgrading the rail infrastructure. This is primarily due to an increase in freight transit. Additionally, the use of railroads is consistent with the use of sustainable energy sources. Many economies are placing a focus on "Green Transportation." Since the investors would concentrate on electrifying railway transportation, this would eventually result in a rise in the use of railways. This would result in the decrease of greenhouse gases.
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Apart from that, even if the railways make use of fuel, the fuel consumption is way less as compared to airlines. In addition to that, the load capacity associated with railways is way higher than the airlines. Thus, the market might witness surge in the number of investors.
With the implementation of the internet of trains, the railway system industry is anticipated to experience a renaissance in the truest sense. The internet of trains provides everything on a silver platter, whether it be dependability, safety, or maintenance. In addition, it has the capacity to collaborate with AI, which would further revolutionise the market in the future. All of these elements are anticipated to increase railway system sales during the anticipated time.
However, massive investment, and long time to recover the invested amount are expected to challenge the market growth.
Thus, from the insights obtained from FMI analysts, it can be inferred that “surging urbanisation, increased government initiatives, application of internet of trains, and a number of other factors are expected to surge the market growth of railway system during the forecast period.”
Top Key Players are: ABB, Alstom, Hyundai Rotem, CRRC, Siemens, Thermo King, Knorr Bremese, Mitsubishi Heavy Industries, Toshiba, and Hitachi.
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Aircraft Sensors Market Latest Advancements And Business Opportunities up to 2033
As per the reports published by FMI, the global aircraft sensors market is projected to have an average-paced CAGR of 9.1% during the forecast period. The current valuation of the market is US$ 6,233.7 Million in 2023. The market value of the aircraft sensors market is anticipated to surpass a market valuation of US$ 13,211.0 Million by 2033. A historical market valuation of US$ 5,756.0 Million has been recorded by the analysts of Future Market Insights for the concerned market during the base year.
Key Takeaways from the Aircraft Sensors Market
The aircraft sensors market has witnessed an approximate surge of US$ 477.7 Mn from the base year to the current.
Fixed-wing aircraft segment by aircraft type is estimated to advance at a CAGR of 3.12%, accruing a market share of 42.3% in 2023.
The temperature sensor segment by sensor type category is projected to progress at a moderate pace, recording a CAGR of 4.5%. This segment is estimated to surpass a valuation of US$ 10.01 Bn by the end of 2033.
The U.S. is likely to dominate the North American aircraft sensors market, advancing at a CAGR of 5.8% through the forecast period.
For more information: https://www.futuremarketinsights.com/reports/aircraft-sensors-market
“Robust Manufacture Of Commercial Aircraft, Coupled With Usage of Fully Advanced Aircraft Sensors In Military Aircraft is Likely to Create Lucrative Growth Opportunities for the Key Players In The Market.” – Says an FMI Analyst.
Competitive Landscape in the Aircraft Sensor Market
The manufacturers in the aircraft sensors market are indulging in activities that would fuel the rapid advancement of the aircraft sensor industry through the forecast period. They are collaborating and entering into strategic partnerships with other prominent players proliferating in the market. Additionally, they are making significant investments in research and development activities to further advance the attributes of aircraft sensors. They are entering into mergers and acquisitions to further strengthen their foothold in the market.
Safran R.A., Meggitt PLC, General Electric Company, Honeywell International, Inc, and The Raytheon Company are some of the key players in the market.
Request a Sample of this Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-16083
Due to their extensive use in UAVs, FMI has assessed that there is a significant increase in the market for aircraft sensors. There is a high demand for aircraft fleets, owing to a large number of passengers traveling from one location to another for tourism and business purposes. A change in the market dynamics due to the adoption of automation techniques amidst the aviation industry is estimated to bolster the growth of the aircraft sensors market through 2033.
In addition to that, several advances are made in microelectromechanical systems (MEMS) technology, which is projected to have a significant impact on the revamped scenario of aircraft sensors. However, it is also estimated that security and privacy concerns, coupled with stringent regulations for using electronic components are projected to restrict the growth of the market through the forecast period.
Recent Developments
In January 2021, Honeywell announced receiving funding from the US Defense Advanced Research Projects Agency (DARPA) to create the next generation of inertial sensor technology that can be used in both commercial and defense navigation applications.
In March 2021, Teledyne Controls, LLC obtained FAA Supplemental Type Certification (STC) approval for the installation of its new advanced Aircraft Cabin Environment Sensor (ACES) on Boeing 737 aircraft.
In May 2021, L3Harris Technologies was awarded a contract worth US$ 96.4 Mn by the U.S. Special Operations Command (SOCOM) for modernizing the forward-looking infrared systems of military-rotary wing aircraft.
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Automotive Battery Management System Market | Growth Opportunities, Business Insights And Forecast To 2033
According to ESOMAR-certified Future Market Insights’ (FMI), The Automotive Battery Management System Market Size is anticipated to register a CAGR of 25.6%. It is predicted that the market for car battery management systems will grow from US$ 3.8 billion in 2023 to US$ 37.4 billion by 2033.
In order to manage lithium-ion batteries, which have greater energy densities and longer operational lives than conventional batteries, EVs, HEVs, and electric bikes use battery management systems.
The need for efficient battery management systems for power flow measurement, controlled power supply and distribution, and monitoring data on electricity consumption is growing as off-grid renewable energy production facilities are increasingly installed and modernised.
The Internet of Things would revolutionise how EVs are charged. It will seamlessly link grids, networks, green energy, batteries, and vehicles to cut down on resource usage and enhance the charging experience.
For more information: https://www.futuremarketinsights.com/reports/automotive-battery-management-system-market
In the near future, electric vehicles will dominate the clean vehicle market, and necessitate demand for revolutionary battery management systems. Steadily growing demand for battery management systems in e-bikes as well as electric cars will squarely surge market growth.
“In the foreseeable future, advancements in battery management systems will contribute towards extending vehicle range, while simultaneously improving battery life and safety. All major OEMs are ambitiously planning to boost electric vehicle production, which is projected to create significant opportunities for the global automotive battery management system market.”
Key Takeaways of Automotive Battery Management System Market Study
Consumer demand across the globe is beginning to bend in favor of electric vehicles, and has strong disruption potential with governments providing purchasing incentives and subsidiaries.
With the dawn of electro-mobility and the resulting increase in EV production, automakers are offering tailored electric vehicles with modification in battery management systems.
APEJ is anticipated to remain the fastest-growing region in the automotive battery management system market during the forecast years, owing to several countries encouraging the usage of EVs. China leads the global fleet of electric vehicles.
Hybrid electric vehicles hold more than two-third of the global EV fleet. Increasing sales of HEVs are foreseen to fuel the demand for battery management systems in the future.
Electric vehicle fleet is significantly low as compared to ICE vehicles. As a result, the OEM sales channel is projected to retain its prominence throughout the forecast period.
Although centralized BMS account for a lion’s share in the global market, modular BMS are expected to witness high growth due to its superior functional benefits over its counterparts.
Request a Sample of this Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-1694
Automotive Battery Management System Market: Competition Overview
The global automotive battery management system market is moderately consolidated, with a number of global as well as regional players operating in it.
Key Players Operating in Automotive Battery Management System Market Include:
Continental Ag, Dana Limited, Gentherm, Hanon Systems, Mahle Gmbh, Nxp Semiconductors, Renesas Electronics Corporation, Robert Bosch Gmbh, Valeo, Marelli Holdings Co., Ltd.
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EV Charger Market Analysis and Market Studies To 2033
The net worth of all EV chargers sold in 2022 was estimated to be around US$ 5,130.5 million in 2022. This year, it is expected to be US$ 6,520.9 million and increase at a CAGR of 26.6% from 2023 to 2033. By the end of the year 2033, the overall valuation of the global EV charger market share is expected to be around US$ 68,967.2 million.
As e-mobility rises and the demand for faster charging stations grows, it is expected that EV charger sales will rise in the coming days. Commercial EV charging station installation in hotels, shopping centers, and other public areas may help the industry grow even more.
In response to the ongoing escalation in the cost of gasoline and diesel, there are greater sales of fuel-efficient automobiles like BEVs and HEVS. The depletion of fossil fuel sources and the rising propensity of businesses to maximize profit from these oil reserves are to blame for this. Therefore, these factors increase the need for cutting-edge EV charging technology, resulting in a rise in the popularity of electrically driven automobiles.
For more insights: https://www.futuremarketinsights.com/reports/ev-charger-market
Key Takeaways
Germany holds an overall market share of 11.2% of the global EV charger business, which is higher than any other country. With the presence of some of the leading electric vehicle suppliers, it is poised to hold its dominance in the coming days.
The United States follows Germany in the production and sales of EV chargers, and contributes nearly 9.6% of the global revenue share. Significant expenditure by the key EV charger market players in research and development is poised to keep it a market leader in this sector.
In the Asia Pacific region, China is the leading manufacturer of chargers for electric vehicles and is poised to grow at 20.8% on an annual basis.
Meanwhile, India is anticipated to witness a year-on-year growth rate of 26.6% during the period from 2023 to 2033.
Based on vehicle type, battery-operated electric vehicles (BEVs) generate the most amount of demand for EV chargers around the world. In the year 2022, this market segment contributed revenue of around US$ 2,350 million, which was figured out to be 45.8% of the global EV charger market size.
Japan is also a prominent market, with substantial demand for EV chargers owing to the presence of many EV manufacturing companies. The overall value of the Japan EV charger market is expected to reach US$ 413.8 million by 2033.
Competitive Landscape
Key players operating in the global EV charger market are ABB Ltd., Robert Bosch GmbH, Siemens AG, Delphi Automotive, Chroma ATE, Aerovironment Inc., Silicon Laboratories, bp pulse, Schaffner Holding AG, and POD point among others.
Due to the existence of multiple market entities, the global EV charger industry is fairly fragmented and is getting more competitive each year. Also, for enhancing their market positions and expanding their shares, the leading players are consistently engaged in a variety of R&D initiatives. Other strategies include partnerships, buyouts, acquisitions, cooperation, new product introductions, and many others.
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Recent Developments
BorgWarner Inc. finalized acquiring Delphi Technologies Company in the year 2020. The EV power electronics products, including the EV charger business of BorgWarner, are expected to benefit from the merger with Delphi Technologies.
According to an agreement between Enel X, Be Charge, and Eni Apps in December 2021, customers can utilize their smartphones to access charging stations.
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Automotive Cylinder Liner Market Segmentation Application, Technology & Analysis Research Report To 2027
The global automotive cylinder liner market growth is predicted to reach a valuation of US$ 5,627.9 Million by 2027, with sales growing at a stagnant CAGR of 3.5% from 2022 to 2027. Scaling up from a value of US$ 4,573.1 Million in 2021, the target market is expected to reach an estimated US$ 4,741.1 Million in 2022.
Key Takeaways:
APEJ region is anticipated to exhibit substantial growth over the assessment period, accounting for over 42.3% of the market share.
India, China, and ASEAN countries are major contributors to the market's growth in APEJ region.
Preference for hybrid liner over conventional alloy positively influences the market prospects.
The automotive cylinder liner market in the U.S. will likely surpass a value of US$ 715.7 Mn by the end of 2022.
Japan's automotive cylinder liner market will be valued at US$ 445.2 Mn in 2022.
Cast iron material type will register the highest demand.
The liner type segment is set to grow at a CAGR of 2.9%.
For more information: https://www.futuremarketinsights.com/reports/automotive-cylinder-liner-market
Competitive Landscape
Nippon Piston Rings Co. Ltd, Federal-Mogul LLC, TPR Co. Ltd., ZYNP Corporation, Liners India Limited, Daido Kogyo Co. Ltd., Melling Cylinder Sleeves, Cooper Corp, Darton International, Inc, India Pistons Ltd, Mahle GmbH, GKN PLC, Bryan Automotive, Metallic Auto Liners Pvt. Ltd, Kusalava International Ltd., Westwood Cylinder Liner Ltd., Aichi Machine Industry Co. Ltd, Bergmann Automotive GmbH, PT Pakarti Riken Indonesia, Cnflap Engine Parts (GZ) Ltd., and Advanced Sleeve among others are some of the major players in the automotive cylinder liner market profiled in the full version of the report.
Leading market players are focusing on acquisition and expansion strategies to enhance their supply of automotive components. Some of the other players are concentrating on increasing the efficiency of automotive cylinder liner to gain a competitive advantage.
Elevated preference for passenger and commercial vehicles, primarily in urban areas, along with the availability of advanced and wide-ranging cylinder liners fuel the growth of the automotive cylinder liner market. The growing population in urban cities coupled with a high demand for lightweight vehicles will further aid the growth of the target market during the forecast period.
The growing car industry which is driven by a demand for passenger cars coupled with increasing purchasing powers bodes well for the automotive cylinder liner market. The overall advancement of the automotive sector as well as a high demand for automotive components also contribute to the growth of the automotive cylinder market.
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An escalation in the popularity of light and passenger commercial vehicles also supplements to the growing demand for automotive cylinder liner. Moreover, a shift from the conventional alloy to hybrid liner is one of the prime factors influencing the market.
More and more manufacturers are inclined to increase the production of hybrid liners, because of their better functionality and efficiency. Again, CAFE and EPA standards have become fairly strict and impose heavy fines on automakers that do not reach the standard mpg (miles per gallon) criteria.
This is expected to positively impact the target market as it compels automobile manufacturers to produce better automobiles with improved fuel efficiency and fewer emissions. The use of effective alloys with increased tensile strength in automotive components will likely support the growth of the automotive cylinder liner market over the forecast period.
"Heightened demand for passenger cars and lightweight commercial vehicles propel the global growth of the automotive cylinder liner market over the forecast period," says an FMI analyst.
More Insights into Automotive Cylinder Liner Market Report
In its latest report, FMI offers an unbiased analysis of the global automotive cylinder liner market, providing historical data from 2012 to 2021 and forecast statistics for 2022 to 2032. According to the latest FMI reports, based on segmentation, the liner type segment will expand at a 2.9% CAGR by volume.
In terms of volume, the dry liners segment will register high demand in light and passenger commercial vehicles while wet liners will witness high installation rates. The material type segment will grow at a CAGR of 2.8% during the forecast period. Based on region, the Asia Pacific Excluding Japan (APEJ) region is expected to exhibit substantial growth in the target market.
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Aircraft Sensors Market | Growth Opportunities, Business Insights And Forecast To 2033
As per the reports published by FMI, the global aircraft sensors market trends is projected to have an average-paced CAGR of 9.1% during the forecast period. The current valuation of the market is US$ 6,233.7 Million in 2023. The market value of the aircraft sensors market is anticipated to surpass a market valuation of US$ 13,211.0 Million by 2033. A historical market valuation of US$ 5,756.0 Million has been recorded by the analysts of Future Market Insights for the concerned market during the base year.
UAVs use a variety of sensors to enhance car performance and collect data. It is anticipated that their use of cutting-edge sensor technologies, like LIDAR sensors, for imaging and navigation will change market trends in the aerospace sensors sector.
Key Takeaways from the Aircraft Sensors Market
The aircraft sensors market has witnessed an approximate surge of US$ 477.7 Mn from the base year to the current.
Fixed-wing aircraft segment by aircraft type is estimated to advance at a CAGR of 3.12%, accruing a market share of 42.3% in 2023.
The temperature sensor segment by sensor type category is projected to progress at a moderate pace, recording a CAGR of 4.5%. This segment is estimated to surpass a valuation of US$ 10.01 Bn by the end of 2033.
The U.S. is likely to dominate the North American aircraft sensors market, advancing at a CAGR of 5.8% through the forecast period.
“Robust Manufacture Of Commercial Aircraft, Coupled With Usage of Fully Advanced Aircraft Sensors In Military Aircraft is Likely to Create Lucrative Growth Opportunities for the Key Players In The Market.” – Says an FMI Analyst.
For more information: https://www.futuremarketinsights.com/reports/aircraft-sensors-market
Competitive Landscape in the Aircraft Sensor Market
The manufacturers in the aircraft sensors market are indulging in activities that would fuel the rapid advancement of the aircraft sensor industry through the forecast period. They are collaborating and entering into strategic partnerships with other prominent players proliferating in the market. Additionally, they are making significant investments in research and development activities to further advance the attributes of aircraft sensors. They are entering into mergers and acquisitions to further strengthen their foothold in the market.
Safran R.A., Meggitt PLC, General Electric Company, Honeywell International, Inc, and The Raytheon Company are some of the key players in the market.
Due to their extensive use in UAVs, FMI has assessed that there is a significant increase in the market for aircraft sensors. There is a high demand for aircraft fleets, owing to a large number of passengers traveling from one location to another for tourism and business purposes. A change in the market dynamics due to the adoption of automation techniques amidst the aviation industry is estimated to bolster the growth of the aircraft sensors market through 2033.
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In addition to that, several advances are made in microelectromechanical systems (MEMS) technology, which is projected to have a significant impact on the revamped scenario of aircraft sensors. However, it is also estimated that security and privacy concerns, coupled with stringent regulations for using electronic components are projected to restrict the growth of the market through the forecast period.
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Autonomous Vehicles Market Latest Advancements And Business Opportunities up to 2032
The global autonomous vehicle market is expected to reach US$ 99,451 Million in 2032, exhibiting a prolific CAGR of 10.9% for the forecast period of 2022 to 2032. Autonomous vehicle market is anticipated to reach an estimated US$ 35,282.8 Million by the end of 2022.
According to the latest FMI reports, based on region, autonomous vehicle market in Europe is predicted to retain its lead over the forecast period. This region is expected to account for around 38% of market share. The availability of a plethora of market opportunities due to the rapidly advancing technology sector as well as surging investments in research and development activities are accountable for the growth of the market in this region.
The autonomous vehicles market in North America is right behind Europe, accounting for almost 25% of market share. The increasing development in the mobility as a service sector is likely to prompt the market growth in this region. In addition, favorable traffic regulations in the U.S as well as easy adoption of technological advancements in this country further propels regional market growth.
The Asia Pacific’s autonomous vehicles market is also predicted to witness considerable growth in the forecast period. An upsurge in the demand for safe, sustainable and convenient driving experience is the primary factor fueling the regional market growth. Strict road safety regulation in countries like India and China also bode well for the market in this region.
Advancing government funding and investment along with a favorable regulatory framework are fostering a positive market environment for autonomous vehicles over the forecast period.
For more information: https://www.futuremarketinsights.com/reports/autonomous-vehicles-market
Autonomous vehicles are self-driving cars that can be controlled by a computer system. These vehicles are yet to be commercialized and include a GPS tracker, lasers, computer vision, and other smart technology that aids it driverless status.
With increasing sustainability drives and changing consumer preferences, more and more people are showing inclination for autonomous vehicles over the conventional ones. This is owing to the benefits associated with autonomous vehicles like fuel efficiency, greater safety, low emissions and many others. Thus, the future market prospects of autonomous vehicles look positive.
The rising adoption of autonomous vehicles is presumably because of the diminished impact on the environment as it carbon emission levels of these vehicles is very low. In addition to this, autonomous vehicles also offer better parking solutions, greater safety which lessens the stress level while driving as well as being fuel efficient. Autonomous vehicles reduce the incidences of road accidents occurring due to human error. Thus, these vehicles are safer than the manually operated ones.
Moreover, the commercialization of autonomous vehicles is expected to generate market opportunities for other industry verticals like electronics, IT, and technology.
“The introduction of robo-taxis, ride-sharing and other commercial activities are expected to promote the market prospects for autonomous vehicles over the forecast period,” says an FMI analyst.
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Key Takeaways:
Integration of advancing technologies is likely to foster market growth.
Data security concerns may hinder market possibilities over the assessment period.
Europe is expected to lead the market with ownership of almost 38% market share.
Autonomous vehicle market in North America is the second largest, accounting for 25% market share.
By application, the passenger car segment is predicted to record the fastest growth.
Competitive Landscape
Google LLC, BMW AG, Mercedes-Benz, Tesla Motors, and Audi AG among others are some of the major players in the autonomous vehicle market profiled in the full version of the report.
Major market players are focusing on developing their autonomous driving technology. These organizations are also engaging in strategic partnerships, collaborations, and mergers to maintain a competitive advantage.
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Automotive Smart Antenna Market Latest Advancements And Business Opportunities up to 2032
As per the report published by FMI, the global automotive smart antenna market size is projected to have a rapid-paced CAGR of 12.2% during the forecast period. The current valuation of the market is US$ 3.94 Billion in 2022. The market value of automotive smart antennas is anticipated to reach a high of US$ 12.45 Billion by the year 2032. The base year recorded a valuation of US$ 3.44 Billion.
Key Takeaways from the Automotive Smart Antennas Market
Asia Pacific region is projected to dominate the global automotive smart antenna market with a market valuation of US$ 4,394.07 by 2032.
The current market valuation for automotive smart antennas stands at US$ 3.94 Billion in 2022.
The automotive smart antenna market is anticipated to record a CAGR of 12.2% during the period 2022-2032.
Passenger Vehicles segment is identified to be the largest adopter of automotive smart antennas.
“The rising concern about traffic congestion and the increasing demand for dashboard features are likely to create lucrative growth opportunity for the market players of the automotive smart antennas market.” – Says an FMI Analyst
For more information: https://www.futuremarketinsights.com/reports/automotive-smart-antenna-market
Competition Landscape in the Automotive Smart Antennas Market
The market can be described as a competitive market. The key companies have adopted several strategies to broaden their customer base worldwide. Furthermore, the manufacturers are indulging in several growth strategies with frequent innovation of smart automotive smart antennas to provide consumers with a seamless, safe, and comfortable experience.
Ace Technologies Corp., Antenova Ltd., Beijing BDStar Navigation Co. Ltd., Calearo Antenne SPA, Continental AG, Harada Industry Co. Ltd., INFAC Corp., INPAQ Technology Co. Ltd., Koch Industries Inc., Lorom Industrial Co. Ltd., LS MTRON Ltd., Panasonic Corp., Samsung Electronics Co. Ltd. are some of the key players in the market.
The automotive smart antenna is anticipated to play an integral role in establishing communication to enhance the safety and performance of the vehicles. This product is allowing original equipment manufacturers (OEMs) to fulfill customer requirements for infotainment services.
While analyzing the automotive smart antenna market, an expert analyst reveals that gradual increase in the incorporation of wireless technology and positioning technologies such as Wi-Fi, Bluetooth, 3G/4 LTE, vehicle-to-vehicle (V2V), and vehicle-to-anything (V2X) connecting technologies in vehicles is expected to drive the global automotive smart antenna market in the current and future years.
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Automotive Seating Market : Gross Margin, Cost, and Revenue Forecasts to 2032
The global automotive seating market share is expected to surge at a stagnant CAGR of around 3.40% during the forecast period from 2022 to 2032. The growth in the market is expected to reach a valuation of US$ 52,941.6 Million in 2022 and is anticipated to surge by an estimation of around US$ 73,960.9 Million in 2032.
Key Takeaways
Since bigger cars have doubled the proportion of SUVs, there has been a significant shift in customer preferences over the past few years. They come in a variety of seat configurations, such as bucket chairs and bench or bucket seats in the second row (may or may not be split). Due to technological advancements, full-size SUV seats are completely powered, heated, and ventilated and have the option of leather upholstery. As a result, the market for automotive seating is being driven by increasing SUV purchases.
Governments all over the world have been seen to actively participate in and play a role in paving the way for foreign direct investments that support the automotive seating industry. The aforementioned factors will likely cause the global automotive seating market to expand in the future years.
Customers' propensity for opulent sitting systems has recently been noticed by Future Market Insights. Manufacturers are making an effort to develop luxurious goods while putting a strong emphasis on safety issues.
The development of advanced driver assistance technologies is receiving more attention from the car industry, with the main goal being the creation and introduction of a completely automated driving experience. Consumer preference for mobility-on-demand services has risen noticeably, opening up profitable possibilities in the automotive seating market.
The longevity of seats will be a crucial factor to take into account with a rising desire for care sharing. Nowadays, multiple commuters use the same vehicle at the same time, making privacy a crucial factor that is driving manufacturers to innovate and acquire compelling goods for end users.
For more information: https://www.futuremarketinsights.com/reports/automotive-seating-market
Competitive Landscape
The prominent market players are making continuous innovations and indulging in several mergers and acquisitions in order to curate convenient seating solutions for the end-users. They are possessing compelling products that efficiently abide by consumer preference for further increasing demand in the global automotive seating market.
Key companies proliferating in the automotive seating market are:
Fisher and Company, RECARO Automotive, Faurecia, Grammar Seating Systems, Johnson Controls, TM Automotive Seating Systems Private Limited, Lear Corporation, Tata Autocomp Systems Limited, Toyota Boshoku Corporation, Marter Automotive Seating Systems, TS Tech Corporation Ltd.
More Insights into the Automotive Seating Market
North America is anticipated to dominate the global automotive seating market by accounting for the maximum share of the global landscape. This region is expected to grow at a steady pace cumulating around 20.0% of the total market share of the automotive seating market.
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The growth in the region is attributed to the increasing demand for hybrid and electric vehicle motor. Moreover, emerging trends in automotive seating systems and growing vehicle production with legitimate government grants to carry forward research and development activities to further propel growth is fueling the market growth.
Europe is projected to account for the highest share of the automotive seating market and dominate the global forum throughout the assessment period. Currently, the European region is accountable for a 25.0% share of the automotive seating market size. The region comprises the highest production capacity for commercial and passenger vehicles, causing the demand for installing seats with advanced technology, which boosts the regional market's growth.
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Automotive Wiring Harness Market Research, Segmentation, Key Players Analysis & Forecast By 2032
Based on the market research conducted by FMI, the automotive wiring harness market size is expected to grow at a considerable CAGR of 7.9% through 2032. The automotive wiring harness market is expected to hit US$ 110.78 billion by 2032. The market is valued at US$ 51.79 billion as of 2022, and in 2021 the automotive wiring harness market valuation was US$ 48 billion.
Key Takeaways:
The automotive wiring harness market is expected to grow at a CAGR of 7.9% during the forecast period.
The market was valued at US$ 48 billion in 2021.
The automotive wiring harness market is valued at US$ 51.79 billion in 2022.
The automotive wiring harness market is anticipated to be valued at US$ 110.78 billion in 2032.
Based on the product type, the Chassis & Safety Segment is expected to lead the market during the forecast period.
Based on the vehicle type, the Passenger Cars had the Highest automotive wiring harness market share of nearly 49% in 2021.
Asia Pacific currently dominates the market, with a Market Share of whopping 51%
If we talk about the largest market based on the country, it is China.
For more information: https://www.futuremarketinsights.com/reports/global-automotive-wiring-harness-market
Competitive Landscape of the Automotive Wiring Harness Market
The automotive wiring harness market is growing with leading players offering everything they can. Thus, the market players have kept customer delight before everything.
In order to offer best possible services, the key players are looking at establishing strategic collaboration with global players and local regional players. This is done to gain a good understanding about the local market as well as the global market. Additionally, the growth of electric vehicle industry and automobile industry is a great news for the key players.
Key Companies Profiled in the Automotive Wiring Harness Market
LEONI Group, Samvardhana Motherson Group, Sumitomo Electric, Yazaki Group, Fujikura Ltd., Lear Corporation, Furukawa Electric Co. Ltd, YURA Tech Corporation, Nexans.
Some of the recent developments are:
In July 2022, Leoni defines clear targets with ‘ReWire’ on its way to offer highest form of sustainability, based on Climate neutral by 2045 agenda.
In August 2022, Sumitomo Electric announced that it would take part in CIGRE 2022 technical exhibition, which is the world’s largest power system technology. The exhibition is scheduled to be held from August 29 to September 2, 2022 in France.
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Around the world, there has been a growth in automobile exploration activity. due to the massive amount of investments made in this market. The use of flexible wires in this application aids in improving power delivery. Future sales of automobile wire harness may increase as a result of all of these.
Additionally, the integration of many electrical and electronic systems into a single system aids in the transmission of signals and the operation of various electrical appliances. Without a question, this has made it possible for businesses to minimise costs. Manufacturers in other industries have taken notice of this, which could enhance the outlook for the automotive wire harness market in the future.
Additionally, the use of autonomous vehicles has increased as a result of its ability to lower accident-related incidents. Governments from all across the world are also spending millions on these autonomous vehicles.
These autonomous vehicles also include an essential automotive wiring harness. It is anticipated that this will result in a rise in demand for vehicle wire harnesses.
Thus, from the insights obtained from FMI research, it can be inferred that, “Increased focus on passenger safety, coupled with an increase in the number of electric vehicles worldwide, and many other factors are expected to increase the demand for automotive wiring harnesses.”
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Automotive Suspension Systems Market Key Opportunity, Analysis, Growth, Trends 2032
The global automotive suspension systems market size is skyrocketing and is to be valued at US$ 62 Billion in 2022, forecast to grow at a stable CAGR of 4.36% to be valued at US$ 95 Billion from 2022 to 2032. Increasing urbanization, technical advances, and shift in purchasing habits are all contributing to the expansion of the automotive sector. Meticulous research and developments are assisting in updating the present automotive suspension systems in order to improve the ride quality and road holding capabilities of the vehicle.
Key Takeaways
Suspensions are vital for good ride quality and automobile handling control. A comfortable ride promotes convenience for passengers, prevents cargo damage, and decreases driver fatigue on extended voyages. Attributing to such crucial factors are resulting in surging sales of automotive suspension systems in the global market.
Since cars with firm suspension may result in better control of body motions and faster reflexes, it is increasingly becoming a crucial part of an automobile. Ambulances require improved vehicle suspension to minimize further damage to already unwell passengers. Such factors have increased the desire for greater driving comfort, which has benefited the worldwide automotive suspension systems market's development.
The SUV market has seen reasonable growth in recent years. Due to the cheap cost, small size, modern designs, and superior agility, the SUV & sub-compact SUV industry has seen significant expansion in nations such as the United States, China, India, and Mexico. The excessive use of multilink suspensions is witnessed in the market. The lower cost of multilink suspension and the simplicity of modification has expanded the use of multilink suspension in mid- to high-segment vehicles.
There is a multilink suspension seen in SUVs including Kia Sport, Volkswagen Tiguan, and Mahindra Scorpio. Throughout the projection period, the global automotive suspension systems market is predicted to increase at a pace of 4.36%. SUVs often have independent suspension at both the front and back wheels. As a result, the urge for independent suspension systems is growing.
At present, air suspensions are preferred more than leaf springs as it delivers optimum comfort and elegance to passengers. As a result, the growing demand for comfort and luxury is driving up demand for automotive suspension systems throughout the world.
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The suspension system of an automobile consists of springs, structs, ball joints, shock absorbers, and control arms that help connect the vehicle to the wheel and allow relative motion between the two. The geometry and method used to design suspension are determined by the camber of the wheel, the castor of the hub, the toe of the vehicle, and the kingpin inclination of the control arms.
Suspensions are considered an important part of an automobile because it helps to keep the vehicle's tires in touch with the road during the trip, protecting the vehicle and reducing shocks along with protecting its cargo from damage or wear. In addition to that, it isolates the car from high-frequency vibrations caused by tire excitation.
Competitive Landscape
The Benteler Group, Continental AG, KYB Co., Ltd., Magneti Marelli S.p.A., Mando Corporation, Schaeffler AG, Tenneco Inc., TRW Automobile Holdings Corporation, WABCO Holdings Inc., ZF Friedrichshafen AG are some of the key companies profiled in the full version of the report.
There are various players in the market for automotive suspension systems. The automotive suspension systems industry is extremely competitive, with competitors vying to increase their market share. Product innovation and regional growth into new markets will be critical to the success of any automotive suspension systems industry participant.
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More Insights into the Automotive Suspension Systems Market
The Asia Pacific region is the largest manufacturer of automotive suspension systems. As per FMI reports, China is anticipated to maintain the dominant position in the automotive systems market during the projection period.
Owing to the surging demand for luxury vehicles, Asia Pacific becomes one of the leading manufacturers of fuel-efficient automobiles in the world. OEMs have begun to invest in and develop innovative automotive technology. Even though Japan and South Korea are technological leaders, India and China produce the most vehicles in the Asia Pacific.
Owing to the changing customer tastes, in recent years, have led to the rise in the per capita income of the middle-class population, and cost benefits for OEMs. Due to these factors, Asia Pacific has emerged as a center for automobile production in recent years.
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Automotive Sunroof Market Analysis and Market Studies To 2032
During the projection period of 2022 to 2032, the global automotive sunroof market size is estimated to expand at a value CAGR of 11%, reaching a valuation of more than US$ 19 Billion by 2032.
Key Takeaways from Market Study
At a CAGR of 11.4%, the fastest-growing segment is the panoramic sunroof under sunroof type segment from 2022 to 2032.
Glass sunroofs are estimated to account for the highest share of more than 97% under the material segment in terms of value in 2022.
The electric-powered sunroof will dominate the market creating an incremental opportunity of nearly US$ 12 Bn by 2032.
By vehicle type, the passenger cars segment is projected to be the segment leader with a market share of more than 80% in 2022.
By sales channel, OEM is set to account for more than 95% of the global market
By 2032, East Asia is estimated to have the largest share of the global market, accounting for more than 48%.
“Growing need for safety, comfort, and aesthetic elements has resulted in a several technological developments in automobiles. This has improved the installation of sunroofs that allow for greater air circulation.” says a Future Market Insights analyst.
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Increasing passenger car sales in conjunction with increased per capita income and consumer spending toward vehicle interiors and effective ventilation will drive the market. Also, the launch of new vehicle models with sunroofs as standard equipment will spur tremendous growth.
Pop-up, in-built, tile and slide, and top mount installed on the top of the vehicle roof are all examples of automotive solar sunroofs. Solar sunroofs are made of glass with photovoltaic solar cells embedded into them.
Furthermore, as demand for electric vehicles grows in both developed and emerging countries, the solar sunroof system is becoming more popular in the EV market. Panasonic, for example, designed a 180-watt roof for the Toyota Prius Prime in Japan to provide enough energy to travel 3–6 kilometers each day.
Market Landscape
Automakers and suppliers are working together to improve the safety features of various automotive systems. For example, Hyundai Mobis launched the world’s first panorama sunroof airbag system, which can prevent passengers from being propelled out of the vehicle through the roof in the event of an accident or rollover.
Rain sensors have also been integrated into these systems by automakers. As a result, when it starts raining, auto sunroofs can be closed automatically. Over the forecast period, such advancements are expected to boost the market growth.
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Some of the key automotive sunroof manufacturers included in the report are:
Webasto Group, Aisin Corporation, Inalfa Roof Systems, Yachiyo Industry, Inteva Products, Yutian Gaunjia (Mobitech), Magna International, CIE Automotive, BOS GMBH & CO. KG, Signature Automotive Products, Other Prominent Players,
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Automotive connectivity Market Revenue, Future And Business Analysis By Forecast 2033
The global automotive connectivity market is projected to register at a moderate-paced CAGR of 19% over the forecast period. The automotive connectivity market is currently valued at US$ 33.42 Billion in 2023. By 2033, demand for automotive connectivity is expected to reach a high of US$ 190.29 Billion.
Key Takeaways
Market analysts believe that the driver assistance subsector would grow at the highest rate during the next few years.
During the foreseen time frame, the 5G sub segment is expected to generate the most revenue. In order to improve the connectivity between vehicles and external devices, several telecommunications firms are working on the next-generation 5G networks.
The automotive connectivity trends is predicted to improve as a result of a rise in demand for lightweight suspension systems and the development of innovative suspension systems.
Automotive manufacturer partnerships that showcase the benefits of connected parking are likely to accelerate its widespread adoption.
Competitive Landscape
Continental AG, Robert Bosch GmbH, Harman International Industries, Inc., DENSO Corporation, Airbiquity Inc., and Visteon Corporation are the most prominent players in the automotive connectivity market. Over the projection period, the connected features of automobiles are expected to become commonplace in emerging markets like China, India, etc., where original equipment manufacturers (OEMs) have begun including such technologies in their newest models.
The demand for automotive connectivity is anticipated to rise as a result of factors like the introduction of strict safety standards, the rising popularity of high-end luxury vehicles, the advent of 5G infrastructure, autonomous vehicles, and the increasing prevalence of integrated connectivity.
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Connected Car Industry is headed by the Installation of Cybersecurity Systems
One important automotive connectivity market trend is the increasing incorporation of cybersecurity solutions into automotive safety systems. Data has emerged as an increasingly important part of the automotive sector in recent years. When driving a "connected" vehicle, the user's smartphone is integrated with the car's infotainment system. There is a significant chance that the user's data, which may include personal and financial data, will be compromised. Google and Apple, two of the biggest names in tech, are working on cybersecurity software for cars to stop data theft. These apps are simple to use, keep tabs on the safety of the car, and alert the owner if an unauthorized person attempts to access the system from another device. For instance, DENSO collaborated with Dellfer on the creation of the ZeroDayGaurd 1.0 cybersecurity solution for the automotive industry.
Recent Developments in the automotive connectivity market include:
The London Electric Vehicle Company (LEVC) and Geotab, the industry leader in the Internet of Things and linked transportation, announced a new agreement in May 2022 to equip LEVC's electric TX taxi and VN5 van with cutting-edge fleet management technology.
For the purpose of creating a connected vehicle platform, Robert Bosch GmbH partnered with Mahindra & Mahindra in August 2021. This collaboration will aid in expanding and improving the logistics connectivity platform.
Ford Motor Company and Google struck a strategic collaboration agreement in February of 2021 to collaborate on the creation of new automotive connectivity service software. This collaboration will benefit Ford Motor Company's connected car division.
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EV Charging Cables Market Growth, Future Prospects And Competitive Analysis To 2032
The global EV Charging Cables Market is anticipated to register a phenomenal growth rate of about 22.2% during the forecast period from 2022 to 2032, with an expected valuation of US$ 1,549.3 Million in 2022 and totaling around US$ 11,541.6 Million by the end of 2032.
Europe's EV charging cables market is expected to witness lucrative growth opportunities backed by the surging adoption of electric vehicles in this region as a result of escalating regulations on vehicle emissions in this region. Europe is accounting for a market share of 31.8% of the global EV Charging Cables market.
North America is accounting for a massive market share of 25.7% of the global EV charging cables market. Because of several technological advancements such as fast charging cables, type-2 connecter plugs, and so on have offered leading players in the market an opportunity to expand their horizons.
Key Takeaways
The implementation of electric vehicles is expanding in several countries all over the world with heavy investments in research and development in this sector. Numerous countries including the Netherlands, France, India, and Canada have launched various campaigns in order to encourage the adoption of electric vehicles. Automakers in the automotive sector are given by the state fixed quotas, tax breaks, subsidies, and rebates.
For purchasing purposes, entitlements are conveniently available for customers. Such considerations have caused a spike in the global production and sales of electric vehicles. In order to ensure the smooth functioning of vehicles, the surging inventory of electric vehicles necessitates the establishment of power grids and charging terminals.
The major factor driving growth in the EV charging cables market is the development of these vehicles which has resulted in advancements in electric vehicle charging technology and significant investments by automakers in electric vehicles.
Several organizations develop EV charging cables to make sure quick charging terminals are available for vehicles. Tesla has approximately 1600 supercharging stations available all over the North American region. This propels the development of charging infrastructure, resulting in propelling the global EV charging cable market.
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There are two types of electric vehicle charging cables: public charging and private charging. The private charging segment is predicted to account for a notable portion of the global EV charging cables market.
Due to the expanding number of private electric vehicles on the road, this segment in particular is expected to dominate the market over the assessment period. The public charging segment is projected to dominate the market over the forecast period, accounting for a boost in the number of commercial charging terminals across regions.
Competitive Landscape
Key EV charging cable providers are rapidly adopting various marketing strategies including new product launches, geographical expansion, mergers and acquisitions, partnerships, and collaboration in order to increase sales and raise the interest of potential buyers to create a massive customer base and gain a competitive edge in the global EV Charging Cables market.
Key Companies Profiled
OSRAM Licht AG, Phoenix Contact, DYDEN Corporation, Prysmian S.p.A., TE Connectivity, Leoni AG, Aptiv, Tesla Inc., Huber & Suhner AG, Eland Cables, Coroplast, BRUGG Group, BESEN Group.
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Automotive Foams Market Research, Segmentation, Key Players Analysis & Forecast By 2032
Global Automotive Foams Market is projected to be worth US$ 42,300.0 million in 2022 and to increase at a CAGR of 11.2% to US$ 122,289.2 million from 2022 to 2032. The global automotive industry, which has been expanding and has in some places reached pre-recession economic levels, is expected to be the automotive foam market's main driver.
Key Takeaways:
With regard to automotive foams, Europe commands the largest automotive foam market share. The region is projected to grow at a rate of over 24.5%.
Automotive Foams are predicted to experience rapid automotive foam market growth in North America, where they are projected to account for 21.6% of global sales in 2022.
With lucrative growth prospects, Asia-Pacific is anticipated to grow and account for a sizeable 16.4% of the global automotive foams market by 2022.
The automotive foam market is anticipated to experience significant growth in the Middle East & Africa region, which is projected to account for 9.2% of global market share in 2022.
Competitive Landscape:
In the global automotive foams market, some of the major players include Bridgestone Corporation, Johnson Controls, Evonik Industries AG, BASF SE, Rogers Corporation, FoamPartner, ARMACELL LLC, Woodbridge, Lear Corporation, Toray Plastics (America), Inc., The Dow Chemical Company, Recticel, Fostek Corporation, Trocellen, and Zotefoams Plc.
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The automotive foam market is extremely competitive, which can be attributed to the large number of participants. A number of regional level players are also active across key growth regions, particularly in Europe, even though global players with significant automotive foam market share include Bridgestone Corporation, Johnson Controls, Evonik Industries AG, BASF SE, and Rogers Corporation.
The demand for cars is anticipated to increase as a result of rising disposable income and purchasing power parity in emerging economies from the Asia Pacific. This factor is anticipated to be positive for automotive foam market demand. The primary factors anticipated to accelerate the automotive foam market's growth are the rising OEM preference for foam products in commercial vehicle applications and the rising demand for foam in developing nations.
On the other hand, the slowdown in the economy, proper disposal, and recycling practises are some of the main factors limiting growth in the automotive foam market and are anticipated to do so over the course of the forecast period.
Electric vehicles are anticipated to present significant growth opportunities in the region, which will cause the Europe region to experience automotive foam market growth over the course of the forecast period. Additionally, as a result of the UK's steady economic growth, the number of vehicles in use has grown over time.
Over the course of the forecast period, it is anticipated that the presence of significant auto manufacturers in the area, which are continually increasing their production capacity, will have an effect on regional product demand for automotive foam.
Within a short period of time, the Tesla Cybertruck has received more than 250,000 orders. By the end of 2021, it's anticipated that production of these trucks will begin. Over the forecast period, Europe is also anticipated to experience modest automotive foam market growth.
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Start-up Ecosystem:
Numerous well-known market participants, including Sarva Foam Industries Pvt. Ltd., Alpha Foam Ltd., Goldcoin Foam Pvt. Ltd., IRE-TEX Premier India Pvt. Ltd., Premratan Concast Pvt Ltd., and Royal EPE Foam Private Limited, among others, are collaborating to deliver the best-in-class Acrylic BoxCleaes for enhancing the global scene. However, there are numerous international start-ups in the automotive foams market who are moving forward to meet the demands of the automotive foams domain.
Sarva Foam Industries Private Limited
Unlisted private company Sarva Foam Industries Private Limited was established on October 8, 2018. It is situated in Bhopal, Madhya Pradesh, and is categorised as a private limited company. EPE foams are the area of expertise for Sarva Foam.
IreTex Premier India Pvt. Ltd.
One of the top producers and exporters of EPE foam and air bubbles since its establishment in 2007, IreTex Premier India Pvt. Ltd. IreTex Premier is dedicated to offering a broad selection of EPE foams and air bubble products for packaging needs that are of the highest quality and offered at affordable prices.
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Electric Scooters Market Future Scenario, Key Insights, Top Companies 2032
The global electric scooters market share is valued at US$ 9.59 billion as of 2022. The market is expected to grow at a CAGR of 9% during the forecast period, and by 2032, the market is expected to reach an estimated US$ 22.7 billion.
Key Takeaways:
China electric scooters market is expected to hold a market share of nearly 80% in the Asia Pacific region during the forecast period.
China is also expected to be one of the fastest-growing markets during the forecast period.
Based on the product type, the maxi electric scooters are expected to have the highest share in the electric scooters market. Based on the battery type, the lead-based battery type is expected to have the highest electric scooters market share during the period 2022-2032.
Based on the technology, battery technology is expected to have the highest market share during the forecast period.
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Competitive Landscape:
The key players are currently investing in strategic partnerships. The reason is that they want to implement the state-of-the-art technology that has been developed by players from other industries like the semiconductor sector, electronics sector, etc. This would certainly enable them to leverage the technology in the electric scooters and assist them in delivering a seamless user experience.
Some of the recent developments in the electric scooters market are:
In July 2022, Ather announced that it planned to boost electric scooters production tenfold.
In September 2022, Yamaha opened ‘Blue Square’ premium outlet in Bhubaneswar. The outlet would offer engaging customer experience, and showcase Yamaha’s entire range of two wheelers, apparels and accessories.
Rising fuel prices, coupled with an increasing demand for fuel-efficient vehicles, are expected to drive the demand for e-scooters during the forecast period. Apart from that, government agencies across the world are taking steps to combat pollution because of rapid urbanization. Consequently, people have started adopting these electric two wheelers because of the extremely low emissions associated with their usage, which is further expected to surge the electric scooters market growth.
Not only that, these mobility devices are effective in handling noise pollution as well. The noise that is generated during the application of electric scooter is much less as compared to fuel-based scooters. This might as well surge the sales of electric scooters during the forecast period. Moreover, some of the huge ridesharing companies are offering affordable mobility scooters, like Ola electric scooters, which are a breather, especially for office goers. Apart from that, millennials are showing a lot of interest in purchasing electric scooters because of their stylish features, which include lightweight, low storage space, and unique appearance.
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However, insufficient charging stations pose a concern over the growth of the electric scooter market. But, with the anticipated increase in the adoption of these electric scooters, it is expected that the problem related to insufficient charge stations would soon be addressed, and we might get to see a lot more charging stations in the future.
Thus, from the insights provided by FMI analysts, it can be inferred that “an increase in the fuel price, coupled with increased initiatives from ruling authorities to curb air pollution, is expected to surge the growth of electric scooters market during the forecast period.”
Key Companies Profiled
Alta Motors, Ather Energy, BMW Motorrad International, Cezeta, Energica Motor Company, Hero Eco, Johammer e-mobility GmbH, KTM AG, Mahindra GenZe, Ninebot Limited, Okinawa Autotech Pvt. Ltd, ReVolt Electric Motorbikes, Xiaomi, Yamaha Motor Company Limited.
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Automotive Timing Chain & Belt Market Revenue, Worth, Size, Segment by Type, Application, Key Companies | FMI
The global automotive timing chain & belt market size is predicted to register a CAGR of 4.5% over the forecast period, according to FMI's analysis. The industry's value is anticipated to increase from US$ 8.6 billion in 2023 to US$ 13.2 billion by 2033 end.
Key Takeaways from the Automotive Timing Chain & Belt Market:
China is projected to assume a high speed of market growth in the next ten years. The country is expected to register a 6.1% CAGR from 2023 to 2033 to attain US$ 4.3 billion by 2033.
The United Kingdom automotive chain & belt market is slated to achieve market revenue of US$ 229.8 million by 2033. The industry is likely to exhibit a CAGR of 2.6% over the forecast period. Increasing research and innovations in the market are projected to boost market development in the country.
The United States market is pegged to attain market revenue of US$ 1.5 billion by 2033. Over the course of the next ten years, the market is projected to demonstrate a 3.3% CAGR. Expanding the automotive sector and increasing the adoption of fiber-reinforced materials in the manufacturing process are projected to boost the market growth.
The chain segment is anticipated to represent a CAGR of 4% over the forecast period. New innovations and establishments to advance the chains segment is projected to boost market expansion.
The gasoline-powered engine segment is anticipated to exhibit an improved CAGR of 4.4% over the forthcoming years, higher than the 3.9% witnessed in the historical period. Increasing preference for these engines, in addition to growing sales of automotive, is expected to boost the market growth.
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News Featuring Market Developments by Key Players of Automotive Timing Chain & Belt:
In September 2022, BorgWarner, a Michigan-based company, inaugurated a new Variable Camshaft Timing (VCT) manufacturing unit in Tamil Nadu. This new facility will have centralized assembly of VCT systems and high-performance engine control. Along with this, the factory will also have space for shipping and warehousing. The motive behind the company's expansion is a heightened order book and a rise in localized sourcing.
In June 2020, Continental AG launched a new timing belt, the CT1228 timing belt, for Peugeot engines and special Citroen. The new CT1228 timing belt has better material properties, which supersedes that of CT1188. These are developed for engines, which permits timing belt to run directly in oils. Additionally, these belts offer greater smoothness and efficiency even in older, high-mileage engines.
The automotive timing chain & belt market is poised to witness an upsurge in opportunities as the manufacturers integrate Artificial Intelligence (AI) and data mining in the manufacturing process. Further, the proliferation of automotive timing chains and belts the world over is a result of rising emission guidelines, among several other factors.
Additionally, the increasing number of racing events that employ diverse vehicles with fluctuating engine sizes is expected to boost the demand for high-performance vehicles. These include SUVs, dirt bikes, monster trucks, solar cars, sprint cars, and touring cars that deploy interference engines.
Upsurge in the sale of high-performance vehicles is expected to boost the demand for timing belts, which plays a critical role in the interference engine. Due to the rising participation observed for racing events, the overall automotive timing chain & belt market is projected to exhibit an upward trajectory.
The OEMs, as well as automotive timing belt makers, are implementing several research and development activities to enhance the durability and lifespan of automotive timing belts and chains. Going forward, the growing significance of fiber-reinforced material, due to its capability to enhance the life of the material, is pushing the market forward. Fiber-reinforced material has many benefits, such as a higher strength-to-weight ratio, corrosion resistance, and weight-resistant properties.
List encompassing key players operating in automotive timing chain & belt market
Tsubakimato Chain Co., BG Automotive, Continental AG, BorgWarner Inc., Denso Corporation, Schaeffler Technologies AG & Co. KG, Mitsuboshi Belting Ltd., L.G. Balakrishan & Bros Ltd, Daido Kogyo Co. Ltd., SKF AB, Iwis Group, Gates Corporation, Dayco Products LLC, Qingdao Choho Industrial Co. Ltd., Rockman Industries Ltd., Sumax Industry Limited, CIC USA Corp, KCM Automobile Transmission Co. Ltd, Mahle GmbH,
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