Automotive Blog

  By 2033, the Automotive Engine Control Unit Market is anticipated to grow significantly, with a CAGR of 4.7%. By 2033, the market is projected to have grown from US$ 14.4 billion in 2023 to US$ 22.8 billion. The market has historically had rapid expansion, with a CAGR of 1.6% between 2017 and 2022. Key Takeaways State regulations and annual inspection of sophisticated ECUs of critical nature have forced the manufacturers to shift towards standardization of ECUs for cost minimization, such as restricting exhaust emissions or mandating active safety devices such as ADAS, and safety systems. Customers are in constant search for automobiles that are more convenient, simple to drive, and safe while on the other hand automakers are willing to produce more inventive products. Although both are costly integrated ECUs appear to strike a good compromise between cost and product innovation. Over recent years, the use of highly distributed automotive ECUs in vehicles has significantly increa...

  According to a recent market analysis by Future Market Insights, the   automotive front end module market demand   is expected to reach US$ 22.29 billion in value by 2032. A CAGR of 6.3% is anticipated in the market during the forecast period. Rising prevalence of Internet of Things (IoT) has a substantial impact on the automotive front end module market growth. Due to the expansion of smart technology, stakeholders have also invested in the development of automotive components that help customers stay connected with other users in automobiles. OEMs are a desirable sales channel for front end components for automobiles. The ORM channel is additionally anticipated to support market expansion. Therefore, automotive front end module market key players should anticipate opportunities by utilizing the OEM channel in order to achieve sustainability and greater profitability. Additionally, the modularization of the product architecture is strongly related to the product design...

  Global   Automotive Foams Market Size  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....

  The  automotive electronics market growth  was estimated to be worth US$ 300.3 billion in 2022, and it is anticipated to develop at a CAGR of 7.30% from 2022 to 2032, reaching US$ 607.5 billion in 2032. The advancement of sensor technology and signal processing algorithms are fueled by the increasingly strict safety regulations, which are a significant factor in the growth of automotive electronics. Key Takeaways: The largest automotive electronics market share is in Europe. From 2022 to 2032, the region is anticipated to grow at a rate of over 27.0%. Automotive Electronics are anticipated to experience significant growth opportunities in North America, where they are projected to account for 12.0% of global sales by 2022. With promising opportunities for automotive electronics market expansion, Asia-Pacific is anticipated to expand and reach a sizeable share of 10.4% in 2022. MEA is anticipated to offer significant automotive electronics market growth opportunities and...

  The   bicycle market trends   is projected to grow steadily at a CAGR of 5.8%. The bicycle market is anticipated to increase from US$ 59,882.2 Mn in 2021 to US$ 109,511.7 Mn by 2032, according to FMI. Bicycles have been a popular mode of transportation for decades, and their popularity is expected to continue growing in the future. Here are some of the factors driving this trend:  Health and Fitness: Bicycling is an excellent form of exercise and is gaining popularity as a way to stay fit and healthy. The growing awareness of the importance of a healthy lifestyle is expected to increase the demand for bicycles in the future. Environmental Concerns:  Bicycles  are an eco-friendly mode of transportation that does not produce emissions or contribute to air pollution. As environmental concerns grow, the demand for bicycles is expected to rise. Urbanization: As cities become more crowded, bicycles offer a practical and convenient solution for short trips and c...

  Future Market Insights (FMI) projects the   cargo bike market   to grow at  11.6%   CAGR  during forecast period. The cargo bike market is set to reach US$ 2,829.5 Million by the end of 2031. Key Takeaways from Cargo Bike Market Study Three wheeled cargo bikes are anticipated to account for 423 Mn by the end of 2021, owing to courier delivery, personal transport, and warehouse transport applications. US$ 3,501-6,000 price range segment sales accounted for US$ 414 Mn supported by availability of electric and conventional cargo bikes. Germany leads the Europe market with a US$ 253.8 Mn sales figure in 2021 because of ease availability of raw material and government incentives. The U.S. will hold around 92% of the North America market through 2031, supported by the presence of major logistics players in the country. In 2021, the Brazil cargo bike market will rise at steady 6.1% CAGR, with investments into low cost logistics gaining ground in the co...

  The automotive interior leather market   is expected to register a CAGR of over 3% during the forecast period ranging from 2022 to 2032, as per a recent Future Market Insights report. As the world's leading automobile producer, the United States leads the sector. North America has perhaps the biggest and most productive economy of any region in the world. Canada is the largest exporter of automobiles in North America, as well as the U.S. is one of the largest producers of passenger cars. Key Takeaways Automotive interior leather for passenger cars to experience noteworthy expansion until 2032 Investing in the production of sustainable leather can lead to significant growth in the market Leather interiors for automobiles are expected to grow in popularity as the market for luxury living standards increases. Increased technological innovation and the expansion of automotive production plants are supporting the growth of the interior leather market. As consumers are increa...

  According to ESOMAR-certified Future Market Insights’ (FMI), the  aircraft cabin interior market outlook  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 d...

  The   ship repair and maintenance services market size   is likely to strengthen its boundaries at a   CAGR of 6.6%   during the forecast period. The market is anticipated to cross a market share of   US$ 50.3 billion   by 2033 while it holds a revenue of   US$ 26.5 billion   in 2023.   - The rising manufacturing industry along with industrialization has led to the higher consumption of logistic services such as ship-based logistics operations, gaining traction for the ship repair and maintenance services market. - Rapid industrialization is followed by the convenient seaborne trade options that businesses choose over the costly airborne logistic operations, expanding the ship repair and maintenance services market size. - Increase in industrial manufacturing goods and post-effects of globalization have played a major part in creating demand for ship repair and maintenance services. Furthermore, the reconditioning of these ships a...

  The global   electric kick scooter market size   is projected to grow at a CAGR of 11.7% during the forecast period. The sales of electric kick scooters are anticipated to surpass US$ 2.7 Bn in 2023. The value of the electric kick scooter market is anticipated to reach a high of US$ 8.2 Bn, by the year 2033. A key aspect surging the sales of electric kick scooters is the growing carbon emissions from fuel-powered automobiles that have been a major source of concern for governments around the globe. Electric transportation choices such as electric scooters are likely to grow more popular as regulatory authorities focus on smart city development, but at a slower rate than passenger vehicles/buses. These scooters are ultra-quiet, which makes them a great alternative for towns looking for answers to the mounting issue of noise pollution. While customers in Latin America, the Middle East, Africa, and Asia Pacific regard electric kick scooters as a mode of short-distance tran...

  Global  automotive repair & maintenance services market size  is forecast to reach a US$ 544.5 Bn in 2021, with a stable long-term projection, as per the latest insights from Future Market Insights (FMI), an ESOMAR-certified research and consulting firm. The demand for automotive repair & maintenance services declined in 2020 due to the COVID-19 outbreak. However, sales are recovering since the automotive industry is in recovery mode. Considering the possibility of the market regaining momentum in many countries, the long-term outlook on the market remains positive. The demand for  automotive repair & maintenance services  increases with the increasing vehicle age and poor quality of roads. The repair & maintenance market is driven by increase in demand for various services and parts such as tire replacement services, collision body repairs, and others. The number of registrations for passenger cars is increasing with the growing number of manu...

The  golf cart market size  is anticipated to reach a valuation of US$ 1.34 billion in 2022, according to a recent market analysis by Future Market Insights (FMI). Through 2032, the market is predicted to expand at a CAGR of 3.9%. Key Takeaways The golf cart market is likely to have a CAGR of  3.9%  during the forecast period. According to the product type, the electric golf cart holds 80.34% share in 2020 for the golf cart market. North America holds a significant share in the global golf cart market. Based on application, the golf course industry accounted for the largest market share by 2032. The value of the golf cart market is expected to be  US$ 2.12 billion  by 2032. Europe holds the second position in the golf cart market during the forecast period. Recent Developments E-Z-GO debuted the E-Z-GO Liberty in June 2021, the company's first golf car with four forward-facing seats in a small cart. The Lamborghini family and Indian EV business Kinetic Gree...

  According to the latest research by Future Market Insights (FMI), The global Automotive Lead Acid Battery Market estimates the market to expand at a steady CAGR of over 3.3% by year 2031-end. The  auto lead acid battery  are typically used as SLI batteries. The market is being directly impacted by rising car sales and production as well as an expanding vehicle parc. In comparison to other batteries, lead acid batteries are less expensive and offer end users the best option. Battery technology advancements are encouraging for the industry. Customers can choose from options like flooded, improved flooded, and AGM batteries. Due to the growing number of vehicles on the road and the requirement to replace batteries on a frequent basis, demand for lead acid batteries is rising and is expected to keep rising. Flooded batteries, followed by enhanced flooded batteries are most sought-after lead acid batteries. Flooded batteries are expected to account for over half of...

  During the projection period, sales of   electric bikes   are anticipated to grow at a CAGR of 10%. The electric bike market is expected to grow from US$ 52.05 Bn in 2022 to US$ 122.1 Bn in 2032. The multiple benefits that electric bikes offer are anticipated to be the primary drivers of electric bikes market growth. Electric bikes are a practical, flexible, eco-friendly, and fashionable mode of transportation. Consumers believe that e-bikes are the best alternative to scooters, smart cars, and public transportation. The electric bike market size is expected to increase as a result of a number of factors, including the implementation of government legislation to encourage the adoption of electric bikes and customer preference for utilising  e-bikes  as an eco-friendly and efficient commute alternative. Customers are more likely to use low- or no-carbon-dioxide alternatives to public transit. It is predicted that the growing demand for electric bikes in the tra...