Automotive Business Point

 The Asia-Pacific (APAC) low speed electric vehicle (LSEV) market is predicted to progress at a CAGR of 6.6% from 2018 to 2025 and expand to 71.8 million units in 2025, as per the market research company, P&S Intelligence. The main factors propelling the growth of the market are the rising measures and initiatives being taken by the governments of many APAC countries, the increasing public awareness of environmental degradation caused because of the usage of oil and gas-powered vehicles, and the implementation of strict emission norms in several APAC countries. A major factor fueling the advancement of the market is the increasing focus of the governments of many APAC nations on reducing their expenditure on crude oil imports. The adoption of LSEVs is one of the best methods for mitigating the costs of crude oil imports. Furthermore, the LSEVs are eco-friendly and have lower operational costs than the conventionally used oil and gas-powered automobiles. Due to these factors, t

  Road accidents carry an annual mortality of 1.35 million, says the World Health Organization (WHO). Often, while driving, people don’t pay attention on the road or they drive at a higher speed than allowed. Pedestrians are to blame for a lot of the road accidents too, as many of them cross the road without looking both ways or while looking at or talking on the phone. To bring down the accident rate, several countries have made it mandatory for vehicles to have advanced driver-assistance systems (ADAS), which help the driver in more ways than one. With the increasing installation of ADAS features in vehicles, the  automotive radar market  is predicted to grow at an 8.4% CAGR during 2020–2030, from $5,839.0 million in 2019. This is because ADAS depends on radars to determine the distance of various objects in the vehicle’s way, such as automobiles in the front and back, pedestrians on the road, or road blockages and stop signs. With time, the penetration of autonomous vehicles is also

  The rising income levels in Tier 2 and Tier 3 Indian cities is resulting in increasing sale of scooters and motorcycles, which run on gasoline. Valued at $22.0 billion in 2017 by P&S Intelligence, the Indian gasoline scooter and motorcycle market is set to grow at a CAGR of 8.8% during the forecast period 2018–2025. It is being estimated that by 2025, the market size will increase to $42.4 billion. The major growth factor of the domain is rising income levels, which has given people more power to buy private vehicles. Among these, gasoline-powered two wheelers are preferred due to easy financing solutions, heavy discounts, fuel-efficient models. Further, many financially-stable people are purchasing a two-wheeler for short commute, despite owing a car, as the former are easier to drive and park on the narrow and congested Indian streets. This is how two-wheelers are becoming the second, and often the preferred, transportation mode, taking the Indian gasoline scooter and motorcycl

 In 2019, the Indian electric vehicle supply equipment (EVSE) market generated a revenue of $1,027.9 thousand and is expected to attain a value of $13,833.0 thousand in 2025, registering a 54.2% CAGR during the forecast period (2019–2025). On the basis of type, the AC chargers accounted for the major share of the market in 2019. During the forecast period, the DC chargers are predicted to grow at the faster pace, as the government is making extensive plans for installing fast-charging stations in tier-1 cities and along the expressways and highways. The private chargers category dominated the Indian Electric Vehicle Supply Equipment Market in 2019, due to the early adoption of these chargers in the country, higher requirement among customers for overnight charging at homes and commercial places, and low cost. The supportive government policies and initiatives is a major driving factor of the market. For example, the Faster Adoption and Manufacturing of (Hybrid & Electric) Veh

According to a report by P&S Intelligence, the global e-commerce in automotive aftermarket is predicted to generate a revenue of $292.6 billion by 2030, and is expected to witness a robust growth, of 23.3% CAGR, during the time period 2020–2030. This is due to the rising customer awareness regarding several vehicles parts and their specifications and convenience, growth of the overall automotive aftermarket, increasing number of do-it-yourself (DIY) customers, growth in average age of vehicles, and surging number of road accidents. On the basis of channel, the  e-commerce in automotive aftermarket  is divided into direct-to-consumer and third-party retailer, between which, the latter division held the larger share of the market during 2014–2019 and is predicted to account for the highest revenue share in the coming years as well. This can ascribed to the increasing penetration of aftermarket sales operations by e-tailing companies, such as eBay Inc., Amazon.com Inc., and Alibaba Gr