Automotive Blog

  As per the report published by FMI, the global   global automotive smart antenna market   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...

During the projection period of 2022-2032, 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 se...

  The   railway system market size   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...

  The global   electronic power steering market   is anticipated to reach a valuation of US$ 41,893.2 Mn in 2032, with the market growing at a  moderate CAGR of 5.2% from 2022 to 2032. By the end of 2022, the target market is set to reach an estimated US$ 25,234.0 Mn. Increasing security concerns coupled with the surging competition with electronic, self-driving, or autopilot-enabled automobiles will boost the demand for the electronic power steering market during the forecast period.  An upsurge in regulatory standards and commitments connected to fuel-efficient technology, measures implemented by OEMs all around the world to lower the weight and complexity of their cars, and rising global vehicle supply are the major considerations that spur the growth of the electronic power steering market during the projected period.  In addition, rising awareness regarding technologically sophisticated automotive systems and the increasing acceptance of luxury vehicle...

The  automotive tires market share  is expected to grow at a CAGR of 6.6% from 2023 to 2033. The market is valued at US$ 503.9 Billion as of 2023, and by 2033, the market is expected to hit a valuation of US$ 958.8 Billion. The stringent safety norms pertaining to road are expected to surge the sales of automotive tires during the forecast period. A sharp increase in the number of accident cases owing to bad quality tires has motivated the investors to spend huge amounts behind the development of top-notch tires. Rise in the disposable income, coupled with rapid urbanisation is also expected to surge the demand for  vehicle tires  during the forecast period. Apart from that, low production cost and lenient emission rules in certain parts of the world is also expected to have a positive outlook on the market. Moreover, the current generation automotive tires have been designed on the grounds of latest technology. This has led to the development of properly mounted, co...

  According to ESOMAR-certified Future Market Insights’ (FMI), the  aircraft cabin interior market  is expected to expand at 2.70% CAGR throughout the forecast period. The market is highly competitive with United Technologies Corporation, Safran S.A., Diehl Stiftung & Co. KG, HAECO Group, Honeywell International, Inc., and Panasonic Avionics Corporation encompassing around 50% of global market shares. According to International Civil Aviation Organization, incorporation of low-cost carrier aircrafts in air transport sector has significantly influenced the aircraft cabin interior market. Thriving tourism sector, increase in air traffic, and growing flight iteration are factors driving the market growth. Surge in new aircraft orders and rising popularity of in-flight entertainment system and aesthetic lighting system will proliferate the market demand in upcoming years. Aircraft cabin interior market is anticipated to grow at a healthy pace owing to increasing demand fo...

  During the time period between 2018 and 2022, the global   used EV market   grew at an annual rate of 5.3% and reached a valuation of US$ 16,428.4 million by 2022. According to the FMI research report, worldwide sales of used EVs are projected to grow at 8.4% from 2023 to 2033. the overall market value is projected to increase from US$ 17,890.5 million in 2023 to US$ 40,078.9 million by the year 2033. The international movement against global warming has had a positive and unprecedented impact with demand for electric vehicles experiencing a growing shock in every area. The increasing viability and affordability of pre-owned EVs, the popularity of high-end models, and extra subsidies and discounts that purchasers may take advantage of have strengthened the market. To sum up, FMI predicts that electric cars are getting more and more affordable, irrespective of economic level, and the demand for used electric vehicles is anticipated to rise as time goes on! For more infor...

  The global   commercial helicopter market  is expected to reach a valuation of US$ 11.5 Bn by 2032, with the market expanding at a positive CAGR of 6.4% from 2022 to 2032. Valued at US$ 5.9 Bn in 2021, the target market is expected to reach an estimated US$ 6.2 Bn in 2022. Key Takeaways: The commercial helicopter market in the United States will grow at 5.5% CAGR, reaching US$ 3.9 Bn by 2032. In Europe, the commercial helicopter market is predicted to expand at a CAGR of 6%, arriving at a value of US$ 2.8 Bn during the assessment period. By type, the light commercial helicopter segment is anticipated to register a CAGR of 6% during 2022-2032. Based on application, the public safety and law enforcement segment is leading the market with a CAGR of 5.5% during the forecast period. The elevated need for commercial helicopters in emergency services, VIP transport, military and defense activities, and oil and gas rigs as well as the replacement of older fleets ...

  The global   automotive radar market size   is expected to reach a valuation of US$ 15803.3 Mn in 2032, with the demand growing at a prolific CAGR of 13% from 2022 to 2032. In 2022, the target market will reach an estimated value of US$ 4614.5 Mn. The extensive scope of application along with advancing technological innovation will fuel the growth of the automotive radar market during the forecast period. Key Takeaways: Risks associated with radar-based technology will stunt the target market growth. Europe’s automotive radar market will account for 25% of the global market share. The automotive radar market in North America will grow at a strong CAGR of 15.5%. Expanding automobile sales will fuel the target market growth in the Asia Pacific region. By 2032, the 77 GHz segment will account for the highest market share. Based on type, the short range radar system will lead the market during the forecast period. By application, the forward-collision warning system segment...

  The global  autonomous vehicle market size   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. 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. Advancing government funding and investment along with a favorable regulatory framework are fostering a positive market environment for autonomous vehicles over the forecast period. Autonomous vehicles are self-driving cars that can be controlled by a computer system. Thes...

  The global  automotive brake system & components market  is set to be valued at  US$ 66,414.8 Million  in 2022 and is projected to grow at a CAGR of  4.7%  from 2022 to 2032. The automotive brake system & components market is expected to reach a valuation of  US$ 105,131.2 Million  by 2032. A new study conducted by Future Market Insights (FMI) reveals that demand for automotive brake system and components will be driven by innovation in automotive ingenuity over the next couple of years. Electronics has over time evolved as the most crucial part in automotive. Integration of electronics has provided new growth dimensions to the automotive safety system. With the arrival of advanced electronic brake technology, companies are now looking forward to channelizing resource on further research and product development. The automation sector is always under the radar of regulatory authorities and is required to comply with various...