Automotive Business Point

The mushrooming requirement for automated systems in mining operations is fueling the use of electric vehicles and robotics in the mining sector. Historically, the mining industry has been a highly labor-intensive industry. However, with rapid technological advancements, the increasing implementation of government regulations aimed at promoting workforce safety, and the hurdles and obstacles associated with finding skilled workers, the adoption of automation is rising in the industry. Besides, the rapid digital transformation and the surging incorporation of advanced technologies are also providing lucrative growth opportunities to mining companies. Moreover, many mining companies are increasingly focusing on enhancing production, improving efficiency, making the overall work environment less hazardous and safer, and reducing the overall cost. Additionally, several mining firms are leveraging the industrial internet of things (IIoT) in order to ensure a highly connected network among d

In recent years, the popularity of truck platooning has surged massively. This has been primarily because of the various advantages offered by this technology, such as safer, cleaner, and more efficient road transport. Moreover, truck platooning assists in reducing the emission of carbon dioxide (CO2) and the consumption of fuel by trucks. As per the European Federation for Transport and Environment, emissions produced by trucks contribute around 25% of the total road transport emissions currently. Furthermore, according to an Intelligent Transportation System for Commercial Vehicles (ITS4CV) study conducted by the European Road Transport Telematics Implementation Coordination (ERTICO), platooning can massively reduce CO2 emissions, with up to 8% reduction in emissions from the leading truck and 16% reduction from the trailing truck. In addition, truck platooning can also massively improve the safety levels in truck transportation. For instance, braking under the truck platooning syste

The rising prevalence of road accidents, especially at night, is encouraging many automobile manufacturers to incorporate night vision systems in their offerings. According to the World Health Organization (WHO), around 1.3 million deaths are caused every year because of road accidents. Furthermore, the organization reported that road accidents are leading cause of deaths for young adults in the age group of 5–29 years and children and these crashes cost several countries as much as 3% of their gross domestic product (GDP). Automotive night vision systems have the ability to easily perceive surroundings of the vehicle beyond the range of the headlights, thereby improving the vision and perception of the driver at night or in low visibility conditions. Moreover, these systems alert the driver about obstacles and probable hazards, that are otherwise not visible, thereby improving the driving experience and vehicle safety. The adoption of these systems is currently very high in luxury and

The implementation of strict emission norms and regulations regarding fuel-efficiency in several countries, on account of the escalating pollution levels and rapid deterioration of the environment, is positively impacting the worldwide demand for fuel cell vehicles. For example, the European Union intends to reduce vehicular emissions by as much as 80% by 2050, from the levels reported in 1990, by promoting the deployment of green automobiles. Furthermore, the U.S. Environmental Protection Act (EPA) was enacted for encouraging the adoption of fuel cell electric vehicles (FCEVs) in order to mitigate carbon dioxide emissions. Several countries are also planning to ban the manufacturing and sales of diesel and gasoline-powered vehicles in the coming years. For example, the U.K., France, Norway, the Netherlands, and India aim to ban the manufacturing and sales of diesel and gasoline-powered vehicles in the coming years (over 2025–2040 period). These measures will support the expansion of t

According to the World Economic Forum (WEF), electric bike (e-bike) sales in the U.S. grew by 145% during 2019–2020. The organization further predicts that annual e-bike sales in Europe could surge from 3.7 million in 2019 to 17 million by 2030. The increasing adoption of the new-energy-based two-wheelers can be attributed to the surging government subsidies and financial incentives being offered to manufacturers and consumers of the e-bikes. For instance, the Government of Sweden will offer a subsidy of 25% (up to $1,119) on each e-bike purchased by its citizens, till the end of 2021. Moreover, the rising deployment of such two-wheelers in shared mobility fleets, owing to the mounting environmental concerns, will also help the e-bike market to advance at 10.3% CAGR during the forecast period (2020–2025). According to P&S Intelligence, the market revenue will increase from $14.4 billion in 2019 to $25.9 billion by 2025. Furthermore, governments of several nations are putting vario

With the increasing greenhouse gas (GHG) emissions and the escalating air pollution levels, the demand for environment-friendly mobility solutions is growing rapidly in North America. Moreover, the governments of many North American countries are implementing policies for encouraging the adoption of electric vehicles, including electric two-wheelers such as electric scooters and motorcycles. For instance, in the U.S., both federal and state governments are providing various incentives for augmenting the deployment of electric vehicles. In 2017, the government of California launched an initiative, under which, it would offer 10% tax credit on the purchase of electric motorcycles having prices up to $2,500. Additionally, the state is also providing a rebate of up to $900 for buying electric motorcycles, under the Clean Vehicle Rebate Project (CVRP). Furthermore, the federal government allocated a budget of $6 billion to the U.S. Postal Service for buying electric delivery vehicles. Simil

Usage-based insurance refers to a type of vehicle insurance that leverages in-vehicle communication systems to track vehicle mileage and monitor driving behavior. Thus, the burgeoning sales of telematics-equipped automobiles and mounting demand for connected car services will strengthen the usage-based insurance market in the years to come. The escalating demand for connected cars can be attributed to the mounting customer focus on vehicle and passenger safety and the growing need to stay connected to the outside world. Additionally, the increasing penetration of smartphones integrated with vehicle connectivity systems will create a huge requirement for usage-based insurance . Nowadays, insurance companies are focusing on usage-based policies to improve profitability, as the data collected through connectivity solutions can be used to calculate the insurance premiums to be paid by vehicle owners. Thus, the rising acceptance of in-car connectivity technologies and increasing willingness

The International Energy Agency (IEA) forecasts that the stock of battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) in China will reach 38,570,612 units (cars) and 13,483,273 units (cars), respectively, by 2030. The IEA also predicts that the stock of BEVs (cars) and PHEVs (cars) in India will reach 7,279,298 units and 941,381 units, respectively, by 2030. The increasing sales of these vehicles will create a huge requirement for automotive semiconductors in the Asia-Pacific (APAC) region in the coming years due to their extensive use in electric vehicle (EV) batteries. Moreover, the increasing integration of advanced mobility solutions, such as autonomous driving technology, owing to the rising awareness about vehicle safety, will fuel the APAC automotive semiconductor market growth in the foreseeable future. Autonomous driving features, such as blind-spot detection (BDS), adaptive cruise control (ACC), automatic parking system, glare-free high beam and pix

As per several research studies, light-emitting diode (LED) automotive lights are up to 85% more energy efficient than incandescent and halogen lights. For vehicles powered by gasoline (petrol) and diesel, they could lead to substantial savings in fuel expenses, while for electric vehicles (EVs), they could add up to 6 miles (9.5 km) of driving range. Thus, with the increasing focus on making automobiles fuel efficient, in the face of the rising greenhouse gas (GHG) emissions from the transport sector, the demand for LED lights could rise manifold. Therefore, P&S Intelligence expects the automotive LED lighting market value to grow significantly during 2021–2030. The key reason here would be the rising vehicle sales as a result of the economic prosperity in developing and developed countries. The improving financial health is also driving the interest, especially of the youth, in fancy car interiors, such as those made popular by the depictions of the drag racing culture in movies

The growing public awareness about the rapid environmental degradation being caused because of the extensive usage of diesel and petrol-powered vehicles and the increasing urbanization rate is driving the demand for low-speed electric vehicles in the Asia-Pacific (APAC) region. Additionally, the governments of many APAC countries such as China and India are implementing various policies for encouraging the adoption of these vehicles. Moreover, these governments are also providing financial incentives, in the form of subsidies, tax rebates, and grants for augmenting the deployment of these vehicles. For example, the Indian government is providing subsidies in the range of $370 (INR 25,000)–$910 (INR 61,000) under the FAME (Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles) scheme. Additionally, as air pollution is majorly caused by the traditional passenger carriers, many environmental regulation bodies and organizations in the APAC region are launching initiatives f

With the surging sales of automobiles, enactment of strict emission norms, and increasing complexities associated with automotive electronics, particularly in connected cars, the demand for automotive diagnostic scan tools is rising sharply. The rising urbanization rate, especially in developing countries such as India, Indonesia, and China, is propelling the requirement for automobiles. As diagnostic scan tools are critical for the efficient and smooth operation of automobiles, their demand is soaring, owing to the expansion of the automobile industry. In addition, the governments of many countries have made maintenance and inspection checks mandatory in order to reduce the emission of greenhouse gases from vehicles, which is also pushing up the demand for automotive diagnostic tools. For example, the Environmental Protection Agency (EPA) enacted the Clean Air Act and amended it in 2001, which made the administration of vehicle maintenance and inspection programs mandatory for 33 loca

A number of factors, such as the slow charging process at charging stations, need for less time consumption in charging and lower upfront cost of electric vehicles (EVs), less availability of proper charging infrastructure, and rise in investments in the manufacturing of lithium-ion batteries, are driving the electric vehicle battery swapping market, which valued ~$150 million in 2020. The battery swapping technology acts a suitable substitute for supplying power to EVs as it eradicates the requirement of slow-charging stations. Electric Vehicle Battery Swapping Market The market is currently witnessing a trend of technological advancements. The advancements in battery swapping technologies are allowing drivers to swap the discharged batteries at a dedicated swapping center with charged ones. This enhances the EV’s uptime, while reducing its operational costs. Additionally, the increasing sales of EVs, falling prices of batteries, and improving technologies are projected to drive the n

The installation of advanced driver assistance systems (ADAS) has surged in recent years due to technological advancements on account of the increasing focus on comfort and safety features in vehicles. The improvement in sensor technologies has led to the development of electronic equipment that is integral to electric vehicles (EVs) and connected cars. Automobile manufacturers are introducing parking aid systems and adaptive cruise control (ACC) systems to offer comfort to drivers. Moreover, applications of ADASs including drowsiness monitoring and night vision aid in improving passenger safety. ADAS Market Opportunities & Industry Strategies In this regard, the rising government regulations and initiatives regarding vehicle safety are fueling the adoption of ADAS. In recent years, many developed countries have mandated the installation of ADAS solutions to enhance the safety quotient of automobiles. For instance, the Federal Motor Vehicle Safety Standards (FMVSS) issued by the U