Automotive Business Point

The growing usage of electric buses in public transport fleets in various countries is one of the major factors propelling the demand for electric bus charging stations around the world. With the enactment of the Kyoto Protocol in 192 countries in 2005, many countries are rapidly implementing policies aimed at facilitating their transition towards low carbon economies. Incentive programs such as subsidies, grants, and tax rebates are increasingly being launched by various governments for improving the electric bus charging infrastructure. Electric Bus Charging Station Market Outlook For example, a budget of $82.7 was allocated by the European Commission in February 2018 for deploying plug-in-hybrid and electric buses in various public fleets and the development of related charging infrastructure and facilities such as charging stations. Similarly, the Chinese government installed as many as 500,000 new public charging stations in the country from 2015 to 2020 for ensuring the smooth op...

One of the major factors fueling the demand for scooter sharing services is the rising road congestion in urban areas, primarily due to the increasing number of daily commuters, on account of the surging population in various countries. Thus, in order to resolve this issue and improve the road traffic flow, many governments and scooter sharing service providing organizations are implementing policies that encourage the adoption of scooter sharing services.  As scooters are smaller in size and have lesser space requirements than cars, the adoption of these services can massively reduce the traffic congestion on roads. Besides this factor, the increasing concerns being raised over the escalating greenhouse gas (GHG) emissions in several countries are also pushing up the demand for scooter sharing services. This is because these services eliminate the requirement for personal vehicles, which, in turn, leads to a huge reduction in greenhouse gas emissions. Request to Get the Sample Rep...

Blockchain technology refers to a decentralized database that stores data in blocks that are chained together. The newly generated data is stored in a fresh block. After a block is filled with data, it is linked to the previous block, thereby enabling the storage of data in a chronological order. Since decentralized blockchains are immutable, data entered in blocks are reversible and cannot be accessed through unfair means, as it is extremely difficult to go back and alter the contents unless a consensus is attained among the majority. Automotive Blockchain Market Outlook Owing to the high security offered by the blockchain technology, it is being increasingly adopted by the automobile industry, as huge volumes of data are produced in this sector. Moreover, the real-time monitoring, scalability of information, and auditability offered by this technology will also strengthen the automotive blockchain market in the coming years. In recent years, the blockchain technology has become an in...

Factors such as the burgeoning demand for vehicles, soaring number of research and development (R&D) initiatives in the domain of advanced driver-assistance systems (ADAS), and surging demand for skilled drivers, owing to the high road accident rate, will facilitate the driver simulator market during the forecast period (2020–2030). According to P&S Intelligence, the market revenue stood at $1,525.6 million in 2020. Moreover, the surging need for skilled commercial vehicle drivers for logistics services will support the market growth in the foreseeable future. Driving Simulator Market Outlook In recent years, the advent of autonomous vehicles has become a prominent market trend. Automakers across the world are heavily investing in the development of components, such as sensors and processors, that are installed in autonomous vehicles. Nowadays, automotive original equipment manufacturers (OEMs) are using driving simulators to test the performance and capabilities of these comp...

In 2019, the Indian electric rickshaw battery market reached a value of $385.0 million and is expected to reach $722.3 million in 2024, advancing at a 13.2% CAGR during the forecast period (2020–2024). Furthermore, 4,290.9 thousand units of electric rickshaw batteries were sold in 2019 in the country. In terms of vehicle, the load carrier division is projected to grow at a faster pace during the forecast period because of the growth of the e-commerce and low total cost of ownership of load carriers. Market for Electric Rickshaw Battery The passenger carrier division held the larger share of the Indian electric rickshaw battery market during the historical period (2014–2019), due to the greater usage of these vehicles among commuters. This mode of transportation is preferred by commuters because of its lower travel cost. In addition to this, the rising demand for public transport for last-mile connectivity and large passenger base in the country are also contributing to the division...

With the growing requirement for affordable and convenient mobility solutions, the popularity of two-wheeler sharing services is rising rapidly in India. The emergence of these services has eliminated the need for vehicle ownership, which has, in turn, reduced the expenditure of people. This is because owning a vehicle is quite expensive because of various associated costs such as insurance costs, maintenance costs, and parking expenses. Due to the surging internet penetration, these sharing services are now accessible to the masses. India Two-Wheeler Sharing Market Outlook Due to the above-mentioned factors, the demand for two-wheeler sharing services is growing rapidly. This is driving the advancement of the Indian two-wheeler sharing market. According to the estimates of P&S Intelligence, a market research company based in India, the value of the market will grow from $31.1 million in 2019 to $94.0 million by 2025. Furthermore, the market is predicted to progress at a CAGR of 2...

A number of factors such as the burgeoning demand for autonomous vehicles and the surging adoption of electric vehicles (EVs) will support the power liftgate market growth during the forecast period (2021–2030). According to P&S Intelligence, the market generated a revenue of $3,478.3 million in 2020. A power liftgate is a backdoor mechanism through which the drivers open or close the liftgate/tailgate by clicking a key on the dashboard or a handheld remote. Nowadays, automotive power liftgates are available with anti-trap and height memory functions. Power Liftgate Market Outlook One of the major growth drivers for the market is the escalating demand for autonomous vehicles, owing to the growing need for ease of driving and soaring concerns being raised over passenger and vehicle safety. Due to the increasing safety concerns, automakers are focusing on technological advancements to enhance road safety and also developing intelligent transportation systems, such as self-driving fe...

With the burgeoning requirement for freight safety and time-controlled deliveries, surge in global and domestic trade, and increasing adoption of smart technologies such as artificial intelligence (AI), big data analytical solutions, and internet of things (IoT), the demand for digital freight forwarding is rising sharply across the world. Big data analytics and other enterprise management suites (ERP) are used for handling many complex tasks and operations, thereby recuing the dependency on human work, which often leads to operation delays, miscalculations, and inefficiencies. Digital Freight Forwarding Market Outlook  Moreover, with the growing demand for greater accuracy in product deliveries, shorter delivery time periods, and higher effectiveness of freight operations, the adoption of advanced technologies is surging in the industry. This is subsequently driving the growth of the global digital freight forwarding market. DHL International GmbH, J.B. Hunt Transport Services Inc...

Automotive turbochargers are used to improve the power output and efficiency of an internal combustion engine (ICE) because it compresses exhaust air from the engine and dispense it to the combustion chamber. At present, turbocharging has become the standard for most diesel engines and some gasoline engines. Researchers across the world are still exploring new ways to improve the designs of turbochargers for reducing the manufacturing cost and enhancing the performance of this automobile component. Automotive Turbocharger Market Outlook  As turbochargers help in increasing the fuel efficiency of vehicles, the rising implementation of stringent emission norms by governments across the world will augment the automotive turbocharger market growth during 2020–2030. For instance, Japan, the United States, and countries outside of Europe have drafted their emission policies on the pattern of Euro 6/ Euro VI norms and the associated mandates for low-sulfur and clean fuels. By adopting thi...

Buying a vehicle is a huge milestone in many people’s lives and it is often the second-biggest investment that a person makes in their life after a house. At least that’s what an average person thinks until the vehicle gets smashed up in a road accident or a certain vehicle part has broken down and requires immediate replacement. This is when reality hits and the person realizes that vehicle ownership puts heavy strain on the pockets. Automotive Aftermarfket However, with the rise of the aftermarket sector in recent years, getting vehicle repairs, maintenance services, spare automobile parts, and upgrades has become more affordable than ever before. The aftermarket consists of companies offering both automotive services and parts. Apart from the mushrooming sales of vehicles, the increasing average age of automobiles, especially in the developing nations of Latin America, Middle East, and Africa (LAMEA) and Asia-Pacific (APAC), is also fueling the demand for aftermarket services across...

Internet of Things (IoT) refers to an integrated system that comprises machines, people, computing devices, and other devices that allow data sharing among them, over a defined network. As the automotive sector is observing a significant technological shift, automakers across the world are integrating this technology in their vehicle models.  With the surging customer preference for a convenient driving experience and seamless connectivity, automobile manufacturers are increasingly incorporating the IoT technology in their offerings. Additionally, the burgeoning need for capturing real-time information by vehicle operators and users is also augmenting the adoption of this technology worldwide. IoT in Automotive Market Besides, the increasing shift toward connected cars will also fuel the internet of things in automotive market during 2020–2030. Connected cars have internet access and a wireless local area network (LAN), which facilitates the cars to share their information with var...