Automotive Blog

  According to FMI estimations, the   off-highway electric vehicle market share  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. KEY TAKEAWAYS Off-highway electric vehicle sales in North America now make up a significant portion of global sales and are expected to exhibit a CAGR of 29% throughout the forecasted period. The off-highway electric vehicle market in Europe is projected to raise at a CAGR of 25% during the forecast period. Between 2023 and 2033, the Asia Pacific off-highway electric vehicle market's CAGR could reach 15%. Based on Vehicle Type, the off-highway electric vehicle industry has been dominated by the Hybrid Electric Vehicle (HEV) category. Based on Application, construction is the key industry that dominates the off-highway electric vehicle market. COMPETITIVE LANDSCAPE Electric-powered machinery, incl...

  The global   gasoline direct injection market   is projected to attain a valuation of US$ 10.6 billion in 2023 and is expected to accumulate US$ 25.79 billion by 2033, rising at a CAGR of 9.2% during the forecast period. Global efforts to address deteriorating ambient air quality have led to the adoption and enforcement of stricter vehicular emission regulations worldwide. These measures aim to reduce tailpipe emissions of unburned hydrocarbons, nitrogen oxides (NOx), and particulate matter (PM). Regions with advanced technologies have prioritized limiting pollutant levels to minimize carbon emissions into the atmosphere. Get Access to Sample Now: https://www.futuremarketinsights.com/reports/sample/rep-gb-5264 The global gasoline direct injection system market is experiencing significant growth driven by increased demand for fuel efficiency, improved thermal efficiency, enhanced engine performance, stringent emissions regulations, and a growing preference for engine dow...

  Future Market Insights (FMI) predicts that the   fire trucks market   will grow by 3.6% year over year and surpass US$ 6,860.3 Million   by 2027. The administrative and regulatory organisations in growing countries that have established strong norms and standards to minimise infrastructure damage and abrupt losses are major contributors to this change in growth rate, which has led to an increase in the sales of fire trucks globally. The increasing incidence of fires, accidents in the manufacturing sector, and natural disasters around the world are some of the major factors fueling the growth of the fire truck market. Another important factor is the growing trend in the industry of incorporating modern technologies like telematics and artificial intelligence in fire vehicles. Request a Sample of this Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-2732 Below 4% Y-o-Y Forecast for Fire Trucks Market Revenue in 2019 The fire trucks market ...

  The   electric vehicle battery market   is forecast to experience a growth of 8.5% CAGR over the estimated time, as per FMI's analysis. The industry's size is predicted to reach a market value of US$ 9,402.3 million in 2023. The increasing transition toward electric vehicles (EVs) is expected to propel accelerated battery demand in leading automobile markets like the United States and Europe. Battery and automotive manufacturers are facing challenges owing to uncertainty related to the battery supply chain. Several players are considering constructing gigafactory or joining joint ventures to combat shrunken supply. The shift toward EVs can be attributed to adverse climactic change and increasing carbon emissions, especially in urban cities. The EV30-30 Scenario targets a surging value share of EVs to 30% by 2030 (excluding two/three-wheelers). Favorable government policies to encourage EV sales are predicted to offer opportunities for battery makers of EVs. Additionally...

  The global   Battery Swapping Charging Infrastructure Market   is expected to surpass an impressive valuation of USD   202.07   million in 2023 and is projected to exhibit a compound annual growth rate (CAGR) of 21% from 2023 to 2033. Market Competition Key players in the Battery Swapping Charging Infrastructure market are NIO Inc., Gogoro Inc., Leo Motors Inc., Tesla Inc., SUN Mobility Private Ltd., BYD Co. Ltd., BattSwap Inc., Kwang Yang Motor Co. Ltd. (KYMCO), Panasonic Corp. Blink Charging Co. acquired EB Charging, a UK-based electric vehicle charging, and sustainable energy solutions company, in June 2022. The acquisition was made to allow Blink to expand and broaden its portfolio in the UK market by developing nearly 1,150 EV charging points. SUN Mobility declared a battery technology partnership with Greaves Electric in May 2022. SUN Mobility and Greaves Electric will utilize the same charging infrastructure to implement swappable batteries for EVs in e...

 The global  automotive head-up display market  is expected to attain a valuation of US$ 1.3 billion in 2023 and is projected to reach US$ 6.4 billion by 2033, trailing a CAGR of 17.2% during the forecast period. The automotive industry is swiftly adopting the era of mobility 4.0, marked by the emergence of CASE technologies (connected, autonomous, shared, and electric), increasing sustainability trends, and evolving customer behavior. Global sales of luxury and premium vehicles are increasing due to the rise in disposable income of consumers, while utility vehicles are gaining popularity worldwide. These factors are driving the growth of the automotive head-up display (HUD) market. Moreover, the increasing affordability of cars among low- and middle-class consumers is further expected to propel market growth. The market is significantly expanding due to increased awareness of road vehicles and passenger safety. Features such as on board cameras, alert signals, speed limi...

  The   smart motors market   is forecasted to garner revenue of US$ 3.2 billion by 2033, up from US$ 1.9 billion in 2023 advancing at a rate of 5.2% from 2023 to 2033. The smart motors market has been witnessing significant growth in recent years, driven by the increasing adoption of industrial automation and the integration of Internet of Things (IoT) technologies. Smart motors, equipped with advanced control systems and communication capabilities, offer enhanced efficiency, improved performance, and seamless integration within automated systems. The rapid expansion of industrial automation across various sectors has fueled the demand for smart motors. Download Free PDF Sample: https://www.futuremarketinsights.com/reports/sample/rep-gb-17421 The ability of smart motors to optimize energy consumption, enables precise control, and improve overall system efficiency has made them indispensable in modern industrial processes. Stringent energy efficiency regulations imposed b...

  As per the reports published by FMI, the global   train battery market size   is projected to have an average-paced CAGR of 5.0% during the forecast period. The current valuation of the market is US$ 599.1 million in 2023. The market value of the train battery market is anticipated to surpass a market valuation of US$ 975.9 million by the year 2033. A historical market valuation of US$ 567.9 million has been recorded by the analysts of Future Market Insights for the concerned market during the base year. FMI has analyzed that there is an increasing need for raising the number of passenger trains and fleet management, which is resulting in more manufacture of trains, thereby surging the train battery market shares in 2023. Get Access To Sample Now: https://www.futuremarketinsights.com/reports/sample/rep-gb-16061 Additionally, locomotive operators are looking out for sustainable options and energy-efficient solutions. They are willing to cut down on the usage of dies...

  The global   automotive lead acid batteries market   is anticipated to attain a valuation of US$ 28.24 billion in 2023 and is expected to reach US$ 47 billion by 2033, expanding at a CAGR of 5.2% from 2023 to 2033. The surging popularity of electric vehicles and the growing utilization of uninterrupted power supply for critical power applications are anticipated to drive market growth. The reliability and affordability of lead-acid batteries make them well-suited for a wide range of consumer and industrial applications. In terms of processing and recycling, lead-acid batteries hold a larger percentage compared to lithium-ion batteries. Download the sample PDF: https://www.futuremarketinsights.com/reports/sample/rep-gb-1482 The increasing use of electrical devices like mobile phones, power banks, and electronic gadgets, coupled with advancements in marine propulsion technology and the growing demand for elevators worldwide, necessitates energy storage systems, thereby dr...

   The   traffic sign recognition system market   is anticipated to reach a valuation of US$ 53.34 Million by 2032, according to a recent market analysis by Future Market Insights (FMI). The market is anticipated to expand by a CAGR of 3.5% over the forecast period. A traffic-sign recognition (TSR) system is a piece of technology that can identify many types of traffic signs, including turn ahead, speed limit, etc. A camera positioned on the front of the car records video of the areas along the roadside as part of a traffic sign recognition system. Detection and recognition are the two stages that make up the process. The Traffic Sign Recognition System uses a variety of techniques to recognise a road sign's features, such as shape, colour, etc., during the traffic sign detection process. Traffic sign recognition systems became more sophisticated and work with great precision in the future due to the extensive use of technology in their production. Moreover, the...

  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. Electric Vehicle (EV) charging cables are an essential component for charging electric cars. These cables are specifically designed to connect the EV to a charging station or power source. They come in various types and lengths, catering to different charging needs and compatibility with various EV models. Safety is a paramount concern with EV charging cables. High-quality cables are designed to withstand various weather conditions and mechanical stresses, ensuring durability and reliability during regular use. Many cables also incorporate safety features like built-in circuitry to protect against overcurrent, overvoltage, and overheating. Overall, choosing the right  EV charging cable  depen...

 The global  automotive lighting market  is anticipated to attain a valuation of US$ 37.1 billion in 2023 and is predicted to reach US$ 69 billion by 2033, trailing a CAGR of 6.4% during the forecast period. Stringent lighting regulations have propelled developed countries to focus on the vehicle lighting industry in Europe and North America. Adequate vehicle lighting is crucial, particularly for travel on busy highways. Governments globally prioritize road safety, as highlighted by the World Health Organization (WHO), which reports 1.3 million annual fatalities from road traffic collisions. Many countries experience a 3% GDP loss due to road accidents. Therefore, enhancing driving conditions is essential, and improving the lighting system plays a significant role in achieving this goal. Over the past five years, the automobile industry has been rapidly moving towards automation, promoting improvements in the design of electric vehicles and digitization. Rapid technical i...

  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. Aautomotive exhaust systems market size is anticipated to be valued at about US$ 192.86 Billion by 2032 end. Key Takeaways Asia Pacific region is expected to account for more than 60% of the global growth in demand for automotive exhaust systems. More than 6.8% CAGR growth is predicted for Latin America throughout the forecast period, making it the second fastest growing area. The expansion of the regional automotive exhaust systems market is anticipated to be bolstered by the rising output and demand for automobiles in nations like Brazil and Mexico. From 2021 to 2028, the market for commercial vehicles is expected to grow at a CAGR of about 8.0%. This expansion is a direct result of rising demands in the transportation and logistics industries for large vehicles. One of the most import...

 The global  electric boats market   is expected to grow at a CAGR of 10.4% during the forecast period. The market is estimated to secure a valuation of US$ 5.6 billion in 2023 and US$ 15.1 billion by 2033.  How do Manufacturer's Innovations Drive the Global Market? Manufacturers play a vital role in the global market through innovative ideas and advanced technologies. Here are a few of the ways the manufacturers drive the global market: Research and Developments:  Manufacturers invest huge amounts in research and development activities to expand the global market by capturing maximum share. These players focus on enhancing battery performance, lightweight materials, and better design boats. Their research activities help build reliable, safe, eco-friendly electric boats. Battery Technology:  Electric boats rely on batteries to store energy. The manufacturers develop long-last and high-capacity batteries that improve charging speed. Sustainable Materials:...