Automotive Blog

 The global  Electric Motor Horn Market  is anticipated to grow at a robust CAGR of around 5.7% during the forecast period from 2022 to 2032. The global market is expected to be valued at US$ 35.1 Billion in 2022 and reach an estimation of around US$ 56.3 Billion by 2032. Due to increasing public awareness of road safety, the market is expected to develop due to the increased use of electric motor horns in the automotive sector. According to Future Market Insights' estimate, the growing production of new cars and the continued expansion of the automotive industry would boost sales of electric motor horns. These are some of the key elements driving the expansion of the global market. One example of a device that effectively transforms electrical energy into mechanical energy is an electronic motor horn. These horns work effectively to produce noises that are created due to mechanical energy based on electromagnetic principles. These horns are frequently used as alerting devices in v

  The global  automotive brake system & components market  is expected to showcase opulent growth over the forecast period from 2022 to 2032 by generating a stable CAGR of 4.7%. The global market is estimated to be valued at US$ 66,414.8 Million in 2022 and is expected to reach a valuation of US$ 105,131.2 Million by 2032. According to historical data, the automotive brake system and component market grew at a sluggish rate of 1.0% CAGR from 2017 to 2021, however over time, the industry experienced amazing growth, and the CAGR reached 4.7% in the forecast period. (2022 to 2032). The increasing number of government activities in various nations to draw motorists' attention to vehicle safety is blamed for this year's year-over-year growth. Governmental organisations are either encouraging safety-related awareness or implementing strict legislation. The market for automotive braking systems and components is growing as a result of widespread acceptance of luxury hybrid vehicle

 According to Future Market Insights’ (FMI) analysis, the global  automotive door latch and hinges market  is anticipated to reach US$ 35.6 billion in 2023. Over the projection period, automotive door latch and hinge demand is set to thrive at 5.4% CAGR. By 2033, total market value is forecast to reach US$ 60.3 billion. Rapid expansion of automotive sector globally is a key factor that will bolster automotive door latch and hinge sales during the assessment period. Automotive door latches and hinges are crucial components of a vehicle's doors that play an important part in ensuring the safety and security of the occupants within. As the demand for automobiles develops due to urbanization and increased disposable incomes, so will the demand for door latch and hinge components. The increasing safety standards of EVs and modern technologies are pushing the need for innovative and dependable door latch and hinge systems. This is resulting in increased competition and market opportuniti

  The  automotive e-compressor market  is predicted to be worth US$ 1,730.7 Million in 2023 and rise to US$ 5,048.5 Million by 2033. The global industry was expanding at a CAGR of 7.3% from 2018 to 2022. The demand for automotive e-compressor is driven by the increased popularity of vehicle electrification or hybridization during the projected period. However, one of the key restraints for the global market is the high installation and maintenance cost of these devices, as well as their complexity in repair and maintenance. The market growth is also being constrained by consumers’ lack of understanding of how hybrid and electric vehicles are serviced and charged. To encourage users to switch to electric vehicles, the government offers several incentives and subsidies. During the forecast period, there is likely to be a substantial demand for electric vehicles as a result of this. Due to technological developments, many electric automobiles are being produced and sold, which presents ad

  Over the forecast period of 2022 to 2032, the  tire pressure monitoring system market  is expected to grow at a CAGR of 10.3% to reach a value of US$ 7.7 Billion by 2032. Commercial vehicles are heavier and despite being well-equipped with tire pressure, suffer frequent tire burst due to poor road conditions. TPMS takes away the guesswork by alerting the driver when a vehicle's tires are low on air or flat. This information reduces the chances of accidents and further improves the efficiency for utilizing fuel, as optimized air pressure in a tire moves the vehicle smoothly. Various government bodies all over the globe have imposed stringent passenger safety regulations on automobile manufacturing. The automotive industry's expansion, initiatives to adopt advanced technologies, develop structured safety features, and a growing trend of government and consumer adoption of autonomous vehicles is expected to create opportunities for growth in the market. Request to Sample of Repo

  As the market share of   automatic tire inflation system market   grows from US$ 2.2 Billion in 2023 to over US$ 3.6 Billion in 2033, its net worth is forecast to reach over US$ 3.6 billion by 2033. The global market for automatic tire inflation systems is expected to register a CAGR of 5.2% between 2023 and 2033 due to increased fuel demand and the need to increase tire life expectancy. A rise in the demand for all-terrain and military vehicles, an increase in safety features in vehicles, and a need for increased passenger comfort all contribute to the growth of the global automotive automatic tire inflation system market. Due to its several advantages, including improved fuel efficiency and extended tire life, automatic tire inflation systems are becoming increasingly popular in emerging economies, particularly in developing countries. The majority of the market for automatic tire inflation systems is driven by the increase in vehicle automation, as well as the increase in vehicle

  According to FMI estimations, the   off-highway electric vehicle market   size could be worth US$ 2.24 billion globally in 2023. Sales of off-highway electric vehicles are projected to reach a record high of US$ 8.36 billion by 2033, rising at a CAGR of 14.1% from 2023 to 2033. Prominent players in the global off-highway electric vehicle market Caterpillar, Volvo Construction Equipment AB, Komatsu Ltd., J C Bamford Excavators Ltd., CNH Industrial N.V., Deere & Company, Epiroc AB, Sandvik AB, Hitachi Construction Machinery Co., Ltd., Doosan Corporation. RECENT DEVELOPMENTS In September 2022, in its Awazu Plant, Komatsu successfully converted biomass combustion ash into fertilizer, reducing industrial waste in Japan's Ishikawa Prefecture's Kaga area while also recycling forest resources. In May 2019, to reduce CO2 emissions by 17%, Volvo launched the EC300E, a new hybrid excavator. With the help of Volvo's ECO mode, excavators can use less gasoline without sacrificing t

  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. 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. Request a Sample of t

  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. 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. 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.

  The   Automotive AC Compressor Market   is estimated to grow at an average CAGR of 3.9% over the forecast period. The automotive AC compressor market size is projected to reach US$ 9,342.1 Million in 2022, and is estimated to reach US$ 13,696.2 Million by 2032. The rise in car ownership is anticipated to be fueled by rising purchasing power and rising economic values in emerging markets, which will drive the market share for automotive AC compressors. However, it is projected that high startup and installation costs, in addition to maintenance issues, will restrict the sales of vehicle AC compressors. On the other hand, the size of the automotive AC compressor market is anticipated to increase due to technical developments and the launch of new products. The increasing use of air conditioning in passenger vehicles in developing countries are likely to drive demand for automotive AC compressors during the forecast period. Furthermore, as environmental regulations tighten, vehicle make

  The global   automotive garage equipment market   is estimated to be valued at ~US$ 32.9 Billion by 2029, increasing at a CAGR of ~ 4.3% during the projected period of 2022 and 2029. This growth is significantly driven by stringent emission and other regulations of vehicle diagnostics equipment in the automotive industry. High Demand for Garage Equipment from Independent Garages Propelling the Market Growth. The global automotive garage equipment market has been segmented based on vehicle type, equipment type, garage type and regions, such as North America, Latin America, Western Europe, Eastern Europe, APEJ, Middle East & Africa, and Japan. Shifting consumer preference towards independent garages in comparison to franchise garage is one the major factors driving the growth of garage equipment’s in the market. Independent garages offer similar services and capabilities as franchise garages along with economical price bands as OEMs. According to primary surveys about ~80% of the c

  The global   EV charging station market   is projected to have a high-paced CAGR of 26.6% during the forecast period. The current valuation of the EV charging station market is US$ 10,768.2 Million in 2023. The value of the EV charging station market is anticipated to reach a high of US$ 113,889.1 Million by the year 2033. Restrictive pollution and fuel economy rules, government incentives, and an increase in the number of electric car sales are all factors driving the demand for EV charging stations. Advancements in technology and software for electric vehicle charging are predicted to change how EV owners use and benefit from these services. Smart car API and charging networks, for instance, accurately determine an electric vehicle's charge time before the driver plugs the car into a station. Green energy is also projected to play an important role in both public and household electric vehicle charging locations. For owners of EVs, carbon emissions are a major concern. Request

  According to ESOMAR-certified Future Market Insights’ (FMI) - By the end of the year 2033, the overall valuation of the global   EV charger market   is expected to be around US$ 68,967.2 million. This year, it is expected to be US$ 6,520.9 million and increase at a CAGR of 26.6% from 2023 to 2033. The net worth of all EV chargers sold in 2022 was estimated to be around US$ 5,130.5 million in 2022. 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. Get Access to Sample Now: https://www.futuremarketinsights.com/reports/sample/rep-gb-16619   Key Takeaways Germany holds an overall market share of

  The global   automotive exhaust systems market   is expected to reach a market valuation of US$ 106.98 Billion by the year 2022, accelerating with a moderate CAGR of 6.07% by 2022-2032. Automotive exhaust systems market size is anticipated to be valued at about US$ 192.86 Billion by 2032 end. The sales and manufacture of automobiles in developing countries like China and India are on the rise due to the rapid urbanization of these regions and the rising personal disposable income of their citizens. Growth in the automotive exhaust systems market is anticipated to be driven by rising demand for, and production of, automobiles with high-efficiency exhaust systems.  The advent of car companies adopting cutting-edge, environmentally friendly technologies to produce low-emission vehicles is expected to fuel the automotive exhaust systems industry's expansion. Demand for these low emission automobiles with an upgraded exhaust system is expected to be bolstered by customers' growing