Automotive

  The global   automotive radar market growth   is expected to reach a valuation of US$ 15803.3 Mn by 2032, with the demand growing at a prolific CAGR of 13.20% from 2022 to 2032. In 2022, the target market will reach an estimated value of US$ 4614.5 Million. 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 syst...

As per ESOMAR-certified consulting firm Future Market Insights’ (FMI’s) recent market analysis, growth is on the cards for the global  automated guided vehicles (AGV) market . The report forecasts the market valuation to reach US$ 996 Million in 2021, growing at an impressive 7.9% CAGR through 2031. Automated guided cars are utilising cutting-edge technologies like telematics services and laser, magnetic, infrared, and optical navigation. Since it improves the precision of tracking position, wireless communication is getting a lot of traction. As a result, it has emerged as a crucial development in the market for automated guided vehicles. Key Takeaways from Automated Guided Vehicle Market Survey In terms of technology, laser-guided AGVs will dominate the segment due to their highly accurate navigation systems. Based on end-use, logistics sector will generate high demand for automated guided vehicles. Increasing application in transportation will foster the AGV ...

  The  turbofan engines market size   is expected to be worth US$ 1.05 billion in 2022. The industry increased by 6.3% year on year over the last year. Turbofan Engines sales are expected to grow at a CAGR of 17.2% from 2022 to 2032, reaching a value of US$ 5.1 billion by the end of 2032. Demand for turbofan engines in the commercial segment to remain strong, while demand for turbofan engines in wide-body aircraft to grow at a rapid pace during the assessment period. The turbofan engines market to be dominated by the North American region. Keys to success for Turbofan Engine Market Growth With rapid urbanisation and global passenger traffic, an accelerated and more comfy mode of transportation is obligated. To encounter this demand, the airline business is growing at a rapid pace. A rapid way to transport goods is also required by the burgeoning transportation sector. The most effectual mode of transportation is air transport. As the airline industry expands, so does...

  The global   electric vehicle motor market   is worth US$ 8.68 Billion as of now and expected to reach US$ 18.09 Billion by the year 2032 at a CAGR of 8.5% between 2022 and 2032. Electric vehicles are being increasingly asked for due to strict government regulations regarding carbon emissions. As per the European Climate Foundation, employment, with the expansion of electric vehicles, would cross 850K by the year 2030. Thus, increasingly adopting high-performance motors in the electric vehicles is bound to take the electric vehicle motor market to a new ‘High’ in the forecast period. At the same time, high maintenance costs coupled with higher initial costs on the part of electric motor are bound to restrain the market going forward. Though there are complexities involved, the electric vehicles are helpful in the long run. As renewable energy resources are depleting, electric vehicles are a good alternative. Electric vehicle motor market is an ancillary market to electr...

  The   automotive headliner market  is projected to be valued at US$ 19,391.9 Mn in 2023 and is expected to rise to US$ 30,695.1 Mn by 2033. The sales of automotive headliner market are expected to grow at a significant CAGR of 4.7% during the forecast period. Key Takeaways from the  Automotive Headliners Market Passenger cars to dominate the segment with 84.3% share in global market. Automotive headliners play an important role in providing an attractive interior design for various passenger vehicles in order to attract customers in a competitive marketplace. The synthetic cloth segment will dominate the material segment with share of over 23.21%. As synthetic fabrics are versatile and long-lasting, they are a popular choice for automotive interiors and among manufacturers. Germany is set to grow at 6.4% by 2033 due to the favorable policies by European Union's in implementing strict emission regulations and focusing on reducing the kerb weight of vehicles. The ris...

  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 market for used electric vehicles (EVs) is expected to see significant growth in the coming years, driven by a number of factors. One of the main drivers of growth in the used EV market is the increasing popularity of EVs themselves. As more consumers and governments around the world focus on reducing emissions and transitioning to cleaner forms of transportation, the demand for EVs is expected to continue to grow. This, in turn, is likely to increase the number of used EVs available in the market, as more drivers trade in their older models for newer ones. In addition...

  The global   diagnostic tools for EVs market   is expected to rise at a sturdy growth rate of 12.8% during the forecast years as per a report by FMI. The overall market valuation of total sales of diagnostic tools for EVs in 2022 was US$ 1,437 million which is further projected to reach US$ 5,401.6 million by 2033. EV sales have seen a significant rise giving impetus to the requirement for other related products and services for its advancement, over the last few years. Furthermore, tremendous progress has been made in the electric vehicle repair and maintenance business creating a huge opportunity for the market. With the increasing popularity of EVs, the market for EV diagnostic tools has also expanded. Here are some of the most valuable diagnostic tools for EVs: OBD-II Scan Tool: Many EVs use the same OBD-II (On-Board Diagnostics) protocol as gasoline-powered vehicles, so an OBD-II scan tool can be used to diagnose common issues with an EV. This tool can read and cle...