Automotive Business Point

With the increasing air pollution levels, the demand for electric vehicles, including electric buses, is surging sharply in India. Moreover, the government is launching several regulations and schemes for encouraging the adoption of electric buses in the country. The Ministry of Heavy Industries and Public Enterprises announced the eligibility criteria for passenger vehicles, electric buses, and two- and three-wheelers for availing the benefits of the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME)-II incentives in March 2019. Many local players are increasingly announcing collaborations with several foreign leading players for meeting the rising demand for electric buses in the country. This is propelling the domestic manufacturing of these buses in the country. For example, GreenCell Mobility entered into a partnership with PMI Electro Mobility Solutions for deploying 350 electric buses in Uttar Pradesh. This will subsequently generate 1,000 jobs in the c

 The surging use of advanced driver-assistance systems (ADAS) and smart infotainment systems in automobiles and plunging cost of the ethernet technology are expected to drive the automotive ethernet market at a CAGR of 19.4% during the forecast period (2021–2030). Moreover, the soaring investments in the connected car field will aid the market revenue in rising from ~$2 billion in 2020 to ~$10 billion by 2030 . In recent years, the increasing adoption of autonomous vehicles and connected features in conventional vehicles has become a prominent market trend. The rising integration of safety and security systems is one of the key growth drivers for the market. Human errors, such as failure to pay attention, inappropriate speed, and inadequate distance from the vehicle in front, are responsible for most road accidents. To mitigate road accident cases, governments of various countries have issued numerous regulations regarding the integration of safety systems in automobiles. As a result o

Due to the increasing enactment of stringent vehicular emission norms by the governments of several countries, advent of autonomous vehicles, and the development of connected infrastructure, the global drive by wire market revenue surged to ~$23 billion in 2020 and it is predicted to rise even more in the coming years. The development of autonomous vehicles is a major market growth driver. These vehicles offer various advantages such as improved vehicular safety, less fuel consumption, and low emissions.  As these vehicles are equipped with several sensors and consist of electrical terminals and connections, their increasing deployment is driving the demand for drive by wires across the world. Besides, the implementation of strict vehicle emission norms by several governments, on account of the escalating pollution levels, is also propelling the demand for drive by wires. Because of the enactment of these regulations, automobile manufacturers are incorporating lightweight materials in

The increasing number of electric vehicles (EVs) on the roads, owing to the presence of strict emission policies in many countries because of the increasing pollution levels caused from vehicular emissions, is one of the major factors fuelling the surging demand for second life electric vehicle batteries around the world. For instance, according to the Europe 2020 strategy, the European Union (EU) aims to reduce the carbon dioxide (CO2) emissions from vehicles by 20%, as compared to the emission levels in 1990, by 2020. Similarly, the U.S. targets to reduce the emission levels by 26–28% by 2025. Second Life Electric Vehicle Battery Market Outlook The batteries adopted in the electric vehicles are replaced very frequently (usually in every four to five years), which is significantly lesser than the complete life span of the electric vehicle itself. Moreover, the older battery, even after replacement, has almost 60—80% of its original power supplying capacity, which makes the battery hig

With the rise in the average age of automobiles, the demand for automotive parts and components manufactured by aftermarket companies is growing rapidly across the world. This is fueling the sales of these components, especially in the Latin America, Middle East, and Africa (LAMEA) and Asia-Pacific countries. For example, the average age of automobiles in China grew from 4 years in 2010 to 6 years by the end of 2020. This increment was primarily because of the provision of stretched car loans for around 4¬–5 years and the rapid improvements and advancements being made in the manufacturing processes of automobiles in the country. Moreover, the adoption of technologically advanced and innovative products in vehicles has also contributed toward the increased lifespan of vehicles in the country. Apart from China, the average age of automobiles is also rising in Brazil and India. This is, in turn, driving the expansion of the automotive aftermarket. Additionally, the growing deployment of e

A number of factors such as the surging use of robotics in areas affected by biological, radiological, chemical, and nuclear attacks and the burgeoning demand for autonomous systems in the commercial and defense sectors will facilitate the unmanned ground vehicles (UGVs) market growth during the forecast period (2021–2030). Moreover, the increasing government investments being made in the development of UGVs will also accelerate the market growth in the coming years. According to P&S Intelligence, the market generated a revenue of ~$3 billion in 2020. One of the key growth drivers for the market is the booming demand for UGVs from the defense sector. The surging investments being made by governments in upgrading their defense fleets and the mounting military expenditure of several countries will fuel the adoption of UGVs in the defense industry. These vehicles are used for transportation, combat support, and search and rescue operations. For example, in March 2020, HORIBA MIRA sec

Due to the rapid environmental degradation because of the extensive usage of fossil fuel-powered vehicles, the government is increasingly implementing policies aimed at encouraging the adoption of shared mobility solutions in India. Moreover, the government is providing various financial incentives for promoting the adoption of these solutions in the country. For example, under the faster adoption and manufacturing of (hybrid) and electric vehicles (FAME) II scheme, the government launched initiatives for augmenting the deployment of electric vehicles for commercial purposes.  These initiatives are propelling the deployment of electric vehicles and their adoption by various shared mobility service providers in the country. Apart from this factor, the increasing road congestion, especially in the urban areas, on account of the booming population levels and the surging number of daily commuters, is also pushing up the demand for shared mobility solutions in India. Different companies are

As per Organisation Internationale des Constructeurs d'Automobiles (OICA), India was the fifth-largest producer of automobiles in 2019, with a final tally of 4,516,017 units. Since the 1990s, the focus of the global auto sector has witnessed a paradigm shift to countries like India, China, Japan, and South Korea, on account of their increasing urban population, which is experiencing a rise in its disposable income. While most people in India still purchase automobiles out of need, many do it just as a status symbol. India Automotive HMI Market Outlook Either way, the auto sector of India continues to grow, with the India Brand Equity Foundation (IBEF) saying, “India became the fourth largest auto market in 2019 displacing Germany with about 3.99 million units sold in the passenger and commercial vehicles categories. India is expected to displace Japan as the third largest auto market by 2021.” As per P&S Intelligence, with the increasing vehicle production and sales, the Indian

The surging defense expenditure of countries and burgeoning demand for seafloor mapping data will drive the unmanned underwater vehicles market growth during the forecast period (2021–2030). Moreover, the rising advancements in underwater inspection techniques and soaring demand for maritime security will facilitate the market growth in the foreseeable future. Currently, the market players are undertaking several creative approaches to augment the effectiveness of UUVs. The mounting defense expenditure is one of the primary growth drivers for the market. UUVs play an important role in naval warfare as they provide significant clandestine and standoff capabilities and can intelligently adapt to the changes in tactical situations. The onboard systems of UUVs can adapt to the mission plan and identify changes without requiring human assistance. Owing to the benefits offered by UUVs, the navy and other departments of defense of various countries are partnering with private companies to con

Automobiles are no longer merely a system of interconnected cogwheels, belts, and other mechanical parts but a complex interplay of electronic sensors and systems. With technological advancements aimed at making the job of the driver easier, so that as much attention as possible is on the road, and offering passengers more comfort and convenience, a number of electronic systems and sensors have become an important part of vehicles. As a result, the usage of sophisticated software is no longer limited to the electronic control unit (ECU), for controlling fuel injection and sparkplug operations, for instance, but has expanded to a whole range of cutting-edge systems, such as advanced driver-assistance systems (ADAS) and digital instrument clusters. Automotive Software Market Outlook Therefore, with the increasing complexity in the functioning of vehicles, P&S Intelligence has forecast a high 12.4% CAGR for the automotive software market during 2020–2030 (forecast period). At thi

Lithium-ion batteries have only 2–7% lithium, and procuring it through recycling is five times more expensive than extracting it from natural sources. Cobalt is the only material in these batteries that can be extracted feasibly. Battery companies are, therefore, focusing on the development of batteries that contain zero or a minimum percentage of cobalt, by replacing it with a cheaper and more-stable material, thereby creating batteries that might not have any cobalt to recycle. The expensive recycling process will also lead to the use of depleted automotive lithium-ion batteries that have around 70% of their initial efficiency for other purposes, globally. Second-Life Automotive Lithium-Ion Battery Market The widening availability of second-life automotive lithium-ion batteries can be owed to the increasing adoption of electric vehicles (EVs) worldwide. The rising sales of EVs can themselves be ascribed to the surging environmental concerns, primarily on account of the accelerating o

The global fuel cell electric vehicle market generated $3,059.5 million revenue in 2020. The market is being driven by the enactment of strict carbon emission regulations, such as those regarding fuel efficiency, by various governments and organizations, and the burgeoning requirement for environment-friendly vehicles, on account of the surging concerns being raised over the escalating carbon dioxide emissions all over the world. For example, the U.S. Environmental Protection Agency (EPA) is encouraging the adoption of fuel cell electric vehicles in order to reduce carbon dioxide emissions in the country. Industry Outlook For FCEV Furthermore, the European Union has announced recently that it aims to reduce vehicular emissions by 80% by 2050 from the levels reported in 1990. The organization would achieve this objective by promoting the use of green vehicles. Besides, the mushrooming deployment of electric vehicles in several countries is also driving the growth of the fuel cell elect

With the growing deployment of electric two- and three-wheelers, on account of the increasing concerns being raised over the escalating air pollution levels, the demand for battery swapping technologies for electric two- and three-wheelers is growing rapidly. The governments of many countries are providing subsidies and various other financial incentives such as purchase rebates and tax exemptions, for promoting the deployment of electric motorcycles and scooters. For example, the Indian government has recently launched the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles II (FAME 2) scheme for promoting the use of electric vehicles in the country. EV Battery Swapping For Two- and Three-Wheeler Market Additionally, many governments and regulatory bodies are increasingly providing permission for registering electric vehicles without pre-fit batteries, thereby augmenting the deployment of these vehicles. This is subsequently pushing up the requirement for battery swa

The Industrial Revolution made the job of people easier, but it also gave the world a big problem. Steadily since the beginning of the revolution, greenhouse gas (GHG) emissions have risen, leading to global warming and climate change in contemporary times. As per National Geographic, since the Industrial Revolution, the amount of carbon dioxide in the atmosphere has tripled! Moreover, since 1906, the average surface temperature has increased by over 1.6 degrees Fahrenheit (0.9 degrees Celsius). Electric Vehicle Component Market Outlook As a result, people around the world have woken up to the reality of the earth overheating one day and have, therefore, started taking initiatives to reduce the rate of GHG emissions. Citing this almost-spiritual awakening, P&S Intelligence says that the electric vehicle component market size will grow from $22.2 billion in 2018 to $157.4 billion by 2025 , at a promising 29.4% CAGR between 2019 and 2025. This is because one of the biggest steps bein

The surging integration of advanced driver assistance systems (ADASs) in vehicles is an important factor propelling the demand for automotive sensors across the world. Furthermore, the increasing popularity of autonomous vehicles is significantly boosting the global demand for these sensors. These sensors are incorporated in autonomous vehicles for numerous purposes such as eye tracking, speech recognition, virtual assistance, driver monitoring, gesture recognition, and in natural language interface. Additionally, “the development of ADASs equipped with radar-based detection devices, sensor fusion engine control units (ECUs), and camera-based machine vision systems is tremendously boosting the requirement of automotive sensors”. Automotive Sensors Market Outlook Therefore, the rising enactment of such laws will lead to huge revenue growth in “the global automotive sensors market in the coming years, from $25,723.8 million to $58,215.3 million from 2019 to 2030”. The market is also pred