Yacht market is anticipated to grow at a CAGR of 29.4% during the forecast period (2024-2031). The global yacht market is on a up swinging, fueled by the growing interest of ultra-high-net-worth individuals in luxury cruising and yacht tourism.
Car audio video navigation market is anticipated to grow at a considerable CAGR of 8.1% during the forecast period (2024-2031). Car audio video navigation refers to the segment of the automotive industry focused on providing entertainment, information, and navigation services within vehicles. It encompasses a range of technologies and products designed to enhance the in-car experience for drivers and passengers.
Truck refrigeration unit market is anticipated to grow at a CAGR of 7.7% during the forecast period (2024-2031). Truck refrigeration units are control devices that regulate the temperature of trailers, allowing them to cool down or warm up when turned on or off, preserving perishable products such as frozen fruits, seafood, meats, dairy, and vegetables.
Automotive transmission market is anticipated to grow at a CAGR of 16.4% during the forecast period (2024-2031). The growing adoption of electrification and hybridization, dual-clutch transmissions (DCT), and advanced manual transmissions with improving autonomous driving and automated transmissions are key factors supporting the market growth globally. The increasing demand for smart transmissions and connectivity with efficiency improvements also drives the market.
Automotive brake system market is anticipated to grow at a CAGR of 5.3% during the forecast period (2024-2031). Automotive braking system refers to the components required to stop a motor vehicle including the braking pedal, brake rotors, calipers, master cylinder, brake fluid, and brake lines. The increasing demand for advanced safety features is one of the key drivers for the market growth. Some of the features include blind spot detection, lane assist, ABS, ESC, and others. These technologies helps in minimizing stopping distances.
Automotive metal stamping market is anticipated to grow at a CAGR of 4.9% during the forecast period (2023-2030). The market’s growth is attributed to material development across the globe. Lightweight materials and new material applications have been developed through research and development. These include the production of functional materials such as mild steel materials, vibration damping steel sheets, clad metals, and composite materials made of high-strength steel, aluminum, magnesium, and other materials.
X-by-wire Systems market is anticipated to grow at a CAGR of 8.8% during the forecast period (2024-2031). The market’s growth is attributed to the growing demand for medium-duty electric vehicle applications across the globe. The spicer electrified zero-6 e-transmissions for medium-duty electric vehicles are designed for a specific market sector. This specialization indicates the industry's ability to adapt to varied applications and changing mobility needs.
Reed switches/sensors market is anticipated to grow at a CAGR of 9.5% during the forecast period (2024-2031). The market’s growth is attributed to the growing demand for automation across the globe. The development in automation across sectors has raised increasing demand for sensors that provide reliable responses in a variety of applications. For instance, in August 2023, Littelfuse, Inc. released its newest products, the 59155 and 59156.
Automotive spark plug market is anticipated to grow at a CAGR of 4.3% during the forecast period (2023-2030). A spark plug is an important element in an internal combustion (IC) engine, which ignites the fuel and air mixture by providing a spark. Globally, growing production in commercial and passenger vehicle production is a key driver for the growth of the automotive spark plug market.
Automotive suspension system market is anticipated to grow at a considerable CAGR of 4.0% during the forecast period. A suspension system is an integral part of an automobile. The growing automobile industry and the growing demand for high performance sports car is a key factor driving the market growth globally. According to the India Brand Equity Foundation (IBEF), the Indian passenger car market was valued at $ 32.7 billion in 2021, and it is expected to reach $54.8 billion by 2027 while registering a CAGR of over 9.0% between 2022-27.
Automotive engine management system market is anticipated to grow at a CAGR of 3.7% during the forecast period (2024-2031). The market’s growth is attributed to the increasing demand for fuel cell technology adoption across the globe. The specific use of a fuel cell cooling package indicates an emphasis on fuel cell technology. Fuel cells' growth in automotive applications continues to be a driving factor, primarily since it offers a more sustainable alternative to traditional internal combustion engines.
Vehicle electrification market is anticipated to grow at a significant CAGR of 12.2% during the forecast period (2023-2030). The growing incentives and policies promoting electric vehicle adoption is the key factor supporting the growth of the market globally. According to the International Energy Agency (IEA), in May 2022, public spending on subsidies and incentives for EVs nearly doubled in 2021 to nearly $30 billion.
Fuel cell vehicle market is anticipated to grow at an exponential CAGR of 52.2% during the forecast period (2023-2030). Fuel cell vehicles (FCVs), also known as fuel cell electric vehicles (FCEVs), are a type of electric vehicle that uses a fuel cell to generate electricity on board, rather than relying on a battery. This means they offer some potential advantages over traditional battery-electric vehicles (BEVs) which include longer driving range, faster refueling, zero emissions and high efficiency.
P2P CarSharing market is anticipated to grow at a CAGR of 17.6% during the forecast period (2023-2030). The market’s growth is attributed to the growing demand of urbanization and congestion. Congestion and the need for effective transportation solutions increase as metropolitan populations grow. The P2P vehicle-sharing reduces congestion by providing an alternative to traditional automobile ownership.
Automotive piston engine system market is anticipated to grow at a CAGR of 5.4 % during the forecast period (2023-2030). The market’s growth is attributed to increasing demand for fuel flexibility. The industry's push toward fuel-agnostic solutions is in response to the changing demand for engines that can run on a variety of fuels, including standard fuels, hybrids, and alternative energy sources.
Automotive Air Purifier market is anticipated to grow at a CAGR of 12.8% during the forecast period (2023-2030). Automotive air purifier is a device that is designed to remove pollutants from the air inside of a vehicle. These pollutants can include dust, pollen, pet dander, smoke, and fumes. Automotive air purifiers can help to improve the quality of the air inside of a vehicle, which can lead to several health benefits, including reduced risk of respiratory problems. Pollutants in the air can irritate the lungs and trigger respiratory problems such as asthma and allergies.
Center stack display market is anticipated to grow at a CAGR of 11.8% during the forecast period (2023-2030). Globally, the demand for center stack displays (CSD) is growing, owing to factors including the growing consumer demand for enhanced connectivity and advanced infotainment features in vehicles. With such growing demand, automakers are increasingly integrating advanced CSDs into the center stack of dashboards to meet the demand for applications such as continuous navigation, entertainment, and vehicle control systems.
Automotive Chassis system market is anticipated to grow at a considerable CAGR of 6.8% during the forecast period (2023-2030). An automotive chassis is the fundamental framework of a vehicle upon which the body, engine, drivetrain, and other components are mounted. It provides the structural support for the vehicle and plays a critical role in its performance, handling, and safety. The increasing vehicles sales is a key contributor to the growth of the global market.
Automotive OTA market is anticipated to grow at a CAGR of 30.1% during the forecast period (2023-2030). OTA programming is used to automatically update firmware, software, and even encryption keys. The growing adoption of such automotive software technology to provide a complete software infrastructure is the key factor supporting the market growth globally.
Postal automation system market is anticipated to grow at a CAGR of 10.6% during the forecast period (2023-2030). Postal automation system is the letter-handling machine used to provide high address reading rates and high processing speed. It simplifies the process of sorting and delivery in the postal industry in response to reducing human errors. The growing adoption of postal automation is the key factor supporting the growth of the market globally.
Automotive actuators market is anticipated to grow at a CAGR of 11.5% during the forecast period (2023-2030). The market’s growth is attributed to evolution of the automotive industry. With the rising incorporation of advanced innovations such as autonomous driving, ADAS (Advanced Driver Assistance Systems), and in-car entertainment systems, the automobile industry has been going through a transition. Actuators are essential to the development of these technologies.
Microcars market is anticipated to grow at a considerable CAGR of 3.0% during the forecast period. The growth of the market is attributed to factors such as increasing urbanization, rising fuel costs, growing environmental concerns, and advancements in automotive technologies. Additionally, factors such as the demand for compact and economical vehicles in congested urban areas and government initiatives promoting electric and hybrid vehicles are anticipated to fuel the demand for microcars.
Metal alloy market is anticipated to grow at a CAGR of 4.77% during the forecast period (2023-2030). Metal alloys are metallic substances produced by joining or melting two metals, or metal and non-metal, to provide a desired property such as strength, hardness, lightness, etc. The aerospace and defense industries' growing need for lightweight components is a major market driver for metal alloys. Helicopter transmission casings, aviation engines, gearbox casings, turbine engines, jet engine fan frames, spacecraft, and missiles are all made of magnesium alloys.
Automotive engine market is anticipated to grow at a CAGR of 7.3% during the forecast period (2023–2030). The market growth is attributed to the growing investment initiatives by market players for developing a high-performance and long-range engine. For instance, in March 2022, Harbin DonganAuto Engine Co., Ltd. Announced its 2022 investment strategy. There are two unique investing projects. The first involves constructing a production line for highly efficient long-range engines, that requires changing the machining center, marking machines, tightening machines, gluing machines, and other pieces of machinery.
Automotive seat market is anticipated to grow at a considerable CAGR of 4.0% during the forecast period. The growing automobile industry across the globe has created demand for automotive seat which has resulted in the growth of the global automotive seat market. For instance, in January 2023, Babyark launched the babyark convertible car seat at the 2023 Consumer Electronics Show (CES). The car seat introduces a holistic approach to safety, focusing on the materials it is made of which include composites and the technology that has been added to it. The seat is introducing a new standard of safety for children. Such launches are further contributing to the market growth.
Automatic weight labeling machines market is anticipated to grow at a CAGR of 3.8% during the forecast period. An effective and precise method for labeling items with weight information is provided by automatic weight labeling devices. They have sensors and software that can weigh a product and print and apply labels following that weight. From little goods like bottles and cans to bigger packages and cartons, these devices can handle a variety of products.
Automotive logistics market is anticipated to grow at a considerable CAGR of 6.1% during the forecast period. The growth of the market is attributed to factors such as increased demand for efficient transportation and handling of automotive goods, globalization of automotive supply chains, and integration of advanced technologies to manage supply chains. For instance, Koopman is using IBM Blockchain technology to create a trusted digital solution for vehicle logistics – both for bringing new cars to their first owners and for selling used cars when leases end.
Automotive tubeless tyre market is anticipated to grow at a considerable CAGR of 8.0% during the forecast period. Numerous factors that drive the market growth include the growing adoption of the tubeless tire in response to its advantages. The benefits of tubeless tires over traditional tube-type tires include reduced risk of puncturing, lower rolling resistance, increased speed, comfort, and grip, greater range of pressure adjustment, ability to repair small holes, better traction, and elimination of pinch flats.
Truck engines market is anticipated to grow at a considerable CAGR of 5.5% during the forecast period. The growth of the market is attributed to factors such as the increasing demand for heavy-duty trucks, infrastructure development projects, and expanding transportation and logistics industry. The demand for fuel-efficient engines and technological advancements in engine design are some other factors that are driving market growth.
Automotive axle market is anticipated to grow at a CAGR of 1.5% during the forecast period. The growing trend of vehicle electrification and innovation continues for drive axle coupled with electric powertrain is a key factor contributing to the market growth. Environment protection is a key challenge in this market. To meet the greenhouse emission regulations, downsizing, weight reduction, and torque-carrying qualities have been prioritized in drive and steer axle development.
Variable valve timing (VVT) and start-stop system market are anticipated to grow at a CAGR of 18.5% during the forecast period. The growth of the market is attributed to factors such as technological advancements and increasing demand for fuel-efficient vehicles. Further Governments around the globe are imposing strict regulations on fuel economy and emissions, which are driving the adoption of VVT and start-stop system in vehicles. For instance, in April 2022, The US Department of Transportation’s National Highway Traffic Safety Administration revealed new fuel economy standards.
Automotive heat treatment market is anticipated to grow at a significant CAGR of 3.4% during the forecast period. The automotive heat treatment processes are commonly used to improve the microstructure of automotive components, encompass annealing, isothermal annealing, normalizing, spheroidizing, quenching, tempering, austempering, and case hardening. Growing requirements for lightweight and fuel-efficient automobiles motivated the demand for the market.
Environmental test chambers market is anticipated to grow at a significant CAGR of 3.5% during the forecast period. The environmental test chambers are used for testing various applications including safety testing of lithium-ion batteries, stability, and shelf-life testing of sensitive electronics and pharmaceuticals. It offers the simulated, real-life environment that is required to test products in industries such as aerospace, automotive, consumer products, medical, pharmaceutical, packaging, and others.
Electric scooter lift and carrier market is anticipated to grow at a considerable CAGR of 4.1% during the forecast period. The increasing demand for mobility electric scooters coupled with available innovative options that allow for the ease of carrying these vehicles over long distances are primary factors that are expected to significantly impact the revenue growth of the global electric scooter lift and carrier market in the years to come.
Marine interior market is anticipated to grow at a CAGR of 10.1% during the forecast period. The growing demand for designing the interior of ships for luxury experiences for consumers is driving the marine interior market across the globe. The key players are also providing enhanced interior designing services to commercial ships to stay competitive in the market.
Aviation asset management market is anticipated to grow at a significant CAGR of 5.9% during the forecast period. Airports have a range of airside and landside assets such as airfields, refueling facilities, runways and taxiways, transit systems, aerobridges, buildings, baggage handling systems, parking garages, and air navigation aids, that require efficient asset management tools for effective maintenance and uninterrupted operation.
Convertible Roof System market is anticipated to grow at a significant CAGR of 3.9% during the forecast period. One of the crucial factors that are fueling the market is the growing technology and its demands. Technology has been growing exponentially over the years, and in the past few years, competitiveness in the market has fuelled it a lot to attract customers. Market players in the vehicle industries, which were once given only basic features, are offering advanced features such as ADAS, sunroof, navigation, and others.
Automotive sunroof market is anticipated to grow at a significant CAGR of 9.4% during the forecast period. One of the crucial factors that are fuelling the market is the growing technology and its demands. Technology has been growing exponentially over the years, and in the past few years, competitiveness in the market has fuelled it a lot to attract customers. Market players in the vehicle industries, which were once given only basic features, are offering sunroofs in most of the vehicles to stay in the competition.
Power sports batteries market is anticipated to grow at a CAGR of 5.8% during the forecast period. Power batteries comprise absorbent glass mat (AGM) technologists combined with a new innovative design that offers more power, high reliability, and long life. The growth is driven owing to an increase in all-terrain vehicles' popularity and a rise in the use of power sports to boost adventure tourism. Moreover, rising two-wheeler production, along with the wider application of batteries among all vehicles type including ATVs, motorcycles, and snowmobiles, is another major factor that boosts the market growth.
Automotive fabric market is anticipated to grow at a CAGR of 3.0% during the forecast period. Fabrics used in automobiles are a special type of fabric that provides an aesthetic look to the interior of the vehicles. Automotive fabric is often used for auto upholstery and interiors of vehicles, which includes interior carpets, seat belts, headliners, and dashboards. The market has witnessed significant growth owing to the rapid growth in the demand for automobiles, rising safety measures, and unique features such as elasticity and resistance to breakage offered by fabric are some of the major factors that boost the growth of the global automotive fabric market.
Used car market is anticipated to grow at a significant CAGR of 10.1% during the forecast period. One of the key factors that are fuelling the market is the rising online sales in the market. Online sites and applications in vehicle markets have been playing a crucial role in bringing access to customers with a single touch. A combination of such progress created a significant increase in the demand for used cars. These platforms have connected customers to the owners of the cars where consumers can find the car they want at a wide range of prices which makes it much more affordable than a new car. For instance, in 2019, Ebay Inc. introduced a new application named eBay Motors for enhancing the used car purchase and sale process online.
The global motorhome market is expected to grow at a CAGR of 8.5% during the forecast period. One of the factors that are fuelling the market growth is the speedily rising demand for comfortable accommodation and travel for large passenger groups. Travelling with family and friends during the time of holidays has been increasing in the past few years across the globe which has raised the demand for motorhome that offers a comfortable journey for a group of people. This increased demand has pushed market players for launching new vehicles to compete in the market.
The global automotive DC-DC converter market is anticipated to grow at a significant CAGR of 11.1% during the forecast period. One of the primary factors that is fueling the market include the necessity of the automotive DC-DC converter in electric vehicles. The converter is solely used to convert dc power from an on-board 200-800V high voltage battery into lower dc voltages (48V or 12V) to power fans, headlights, wiper and window motors, interior lights, pumps, and many other systems within hybrid electric vehicles (HEV) and electric vehicles (EV). This has necessitated the use of the DC-DC converter in EVs which is reflected in the growing demand for the product in the market.
The global utility vehicle market is anticipated to grow at a significant CAGR of 10.3% during the forecast period. One of the major factors that are fuelling the market suggestively is the high useability of utility vehicles as compared to the usual passenger cars. Utility vehicles can be used for passenger commute, industrial, agricultural, and sports owing to their spacious cabin, bigger cargo, and capability to run on rough roads. This has increased the demand for vehicles in the past few years, and the future anticipation is high as well. For instance, in October 2021, Mahindra & Mahindra started delivering its new SUV, XUV 700, which registered more than 65,000 pre-booking within 14 days.
The global automotive regenerative braking market is anticipated to grow at a significant CAGR of 16.1% during the forecast period. One of the major factors driving the growth of the market includes growing demand for electric vehicles across the globe. Several nations in collaboration with key market players are taking various initiatives to promote adoption of electric vehicles., As a result of which, over the past few years sales of electric vehicles have been grown exponentially which in turn has increased the demand for automotive regenerative braking market. These are used to recharge the battery and enhances the running range of the electric vehicles. As per the data of the International Energy Agency 2020, electric car sales reached 2,986,659 which is more than 40% of the electric car sales in 2019.
The global automotive steering systems market is anticipated to grow at a significant CAGR of nearly 4.6% during the forecast period (2021-2027). The steering industry is one of the significant industries for all types of vehicle industries.
The global robotaxi market is anticipated to exhibit exponential CAGR of 109.5% during the forecast period (2021-2027). The robotaxi is a self driving taxi that takes leverage of AI, ML, Iot and other technologies for ride-hailing. The rising trend of autonomous vehicle, zero emission vehicles, and new mobility models in the automobile sector has flourished the investment in the field of robotaxi market.
North American automotive data logger market is anticipated to grow at a significant growth rate of 6.1% during the forecast period. The growing penetration of EVs, favorable government initiatives for road safety, and increasing trend towards autonomous technology in the automobile sector are some prominent factors driving the North American automotive data logger market.
The European automotive data logger market is anticipated to grow at a significant growth rate of 5.7% during the forecast period. The well-established automobile industry of the region is a key factor driving the growth of the European automotive data logger market.
Asia-Pacific automotive data logger market is anticipated to grow at a significant growth rate of 7.5% during the forecast period. The growing penetration of EVs, favorable government initiatives for road safety, and increasing trend towards autonomous technology in the automobile sector are some prominent factors driving the Asia-Pacific automotive data logger market.
The automotive data logger market is projected to propagate at a solid CAGR of 6.8% during the forecast period (2021-2027). The rising demand for higher bandwidth, increase in deployment of ADAS and infotainment systems in the vehicle are expected to drive the growth of the global automotive data logger market.
The global automotive tire pressure monitoring systems market is estimated to grow at a significant CAGR during the forecast period. The safety regulations and norms imposed by governments across the globe is a key factor to promote the adoption of the automotive tire pressure monitoring system in vehicles by automobile manufacturers.
The global in-vehicle networking market is growing at a significant CAGR of around 6.6% during the forecast period (2020-2026). The market is driven by the rising disposable income, growing demand for advanced safety and comfort, and increase in the use of electronics in vehicles since few years.
The global in-vehicle ethernet system is projected to grow at a significant CAGR during the forecast period. In-vehicle ethernet is used to connect components within a car using a wired network. It is designed to meet the needs of the automotive industry, including meeting electrical requirements (EMI/RFI emissions and susceptibility), bandwidth requirements, latency requirements, synchronization, and network management requirements.
The global automotive NFC market is estimated to grow at a CAGR of over 20% during the forecast period. The NFC (Near Field Technology) is a bidirectional short-range communication technology that works on the electromagnetic field induction for the safe and secured data transfer.
The global vehicle security systems market is estimated to grow at a CAGR of 6.9% during the forecast period. The major factor contributing to the growth of the market include increasing incidences of vehicle theft. Significant incidences of vehicle theft have been reported across the globe.
COVID-19 epidemic is a human tragedy and is showing a huge impact on the global economy. The pandemic has majorly affected the US, China, and European countries; however, its impact can be seen in other parts of the world. Latin America is one such region that drives its economy from the trade of goods from these severely affected regions.
Coronavirus (COVID-19) is spreading with the utmost intensity in India. The country is progressing at a significant pace; however, the outbreak of the COVID-19 pandemic has negatively affected the economy of the country in the past few weeks.
The global automotive industry is expected to register steady growth over the forecast period 2019-2025. The automotive industry contributes significantly towards the economy of several major countries and also is considered to be the backbone of many nation’s GDP.
Automotive exhaust systems market is estimated to grow at a CAGR of 5.2% during the forecast period. The major factors contributing to the growth of the market include the stringent vehicle emission standards and the rising production of commercial and passenger vehicles. Increasing environmental regulations related to vehicle emissions has augmented the adoption of automotive exhaust systems in-vehicle components.
Global valve remote control system market is growing significantly at a CAGR of 5% during the forecast period. The rise in adoption of automation system in the construction and manufacturing sector is expected to drive the global valve remote control system market.
The electric vehicle supply equipment market is driven by significant
growth in the electric vehicle market globally. Huge market growth will
be observed in the upcoming period in the electric vehicle supply
equipment market. Most of the government are focusing to change their
vehicle fleet from IC engine vehicles to electric vehicles. The major
motive for countries and government organizations to shift from IC
vehicles to an electric vehicle is rising environmental pollution due
The global automotive sensors market is growing at a significant CAGR of around 11.2% during the forecast period. The market growth is attributed to the favorable government support for increasing passenger safety and security.