Automotive Business Point

The Indonesian micromobility market revenue stood at $1.1 million in 2020, and it is expected to rise to $19,888.5 million by 2030. Furthermore, the market will register an explosive CAGR of 116.1% from 2021 to 2030 (forecast period), as per the estimates of the market research company, P&S Intelligence. The market is being driven by the burgeoning requirement for mitigating urban road traffic congestion, growing need for first- and last-mile connectivity, and the convenience and low cost of micromobility services.  With the mushrooming population, the number of vehicles running on Indonesia’s roads is surging, which is leading to road congestion, especially in urban areas. This is subsequently pushing up the demand for mobility solutions that reduce road congestion. As the vehicles included under micromobility are compact, need less space on roads, and can be parked easily, their demand is surging, on account of the rising road congestion in urban areas. Besides, micromobilit...

 The Taiwanese micromobility market is expected to advance at an exceptional CAGR of 61.3% during the forecast period (2021–2030), due to the increasing need to reduce traffic congestion and air pollution, mounting public focus on curtailing transportation costs, and burgeoning demand for efficient transportation systems for short distance commute in the country. According to P&S Intelligence, the market was valued at $47.3 million in 2020, and it is expected to generate $5,981.6 million revenue by 2030.  At present, the people of Taiwan are constantly searching for efficient transportation systems for commuting short distances, owing to which, the market is growing at a considerable pace. City dwellers are consistently adopting transportation systems that bridge the surging gap between first- and last-mile connectivity, owing to the vast population, excessive traffic congestion, high vehicle cost, and scarce parking space in the country. To cater to this need, micromobil...

The United Nations Economic Commission for Europe (UNECE) states that air pollution has a detrimental impact on all aspects of human life and climatic conditions. Air pollution harms human health, obstructs economic development, affects food security, facilitates climate change, and deteriorates the environment, upon which the livelihood of every individual depends. To mitigate its levels, the UNECE Convention on Long-range Transboundary Air Pollution is focusing on the implementation of protocols such as the Gothenburg Protocol to Abate Acidification, Eutrophication and Ground-level Ozone, in Eastern Europe, South-Eastern Europe, Central Asia, and the Caucus. In the same vein, the World Health Organization (WHO) monitors the progress on health indicators to track the progress in achieving sustainable development goals (SDGs) 3,7, and 11. The SDG target 3.9.1 calls for a notable reduction in air-pollution-related illnesses and deaths. Similarly, the SDG target 11.6.2 aims to decrease t...

Association of Southeast Asian Nations (ASEAN) countries are characterized by congested roads, which are overwhelmed with diesel- and gasoline-powered vehicles. As a result of this, air pollution levels are worsening in these nations. According to the World Health Organization (WHO), one-third of the deaths from air pollution are recorded in the Asia-Pacific (APAC) region, of which ASEAN is a major part. Thus, the surging concerns regarding the rising air pollution levels and the increasing incidence of respiratory diseases will encourage more customers to shift toward electric vehicles (EVs) from fossil-fuel-based vehicles. Moreover, the increasing implementation of government policies encouraging the production and adoption of new-energy vehicles will strengthen the ASEAN electric vehicle market in the foreseeable future. For instance, in December 2019, Indonesia enacted an EV support policy to grant incentives to the investors of EV companies. This policy is targeted at EVs constit...

With the burgeoning requirement for video surveillance for road safety purposes, the sales of vehicle cameras are predicted to surge sharply in the coming years. The increasing prevalence of road accident is pushing up the requirement for technologies and systems that can improve vehicle safety. According to the World Health Organization (WHO), around 1.3 million deaths are recorded every year because of road crashes. The organization also reported that road accidents are the leading cause of deaths for young adults aged between 5 and 29 years and children. Additionally, the sales of vehicle cameras are also being driven by the rapid advancements being made in complementary metal oxide semiconductor (CMOS) image sensors that are incorporated in automotive cameras. Besides, the rising focus of automakers on replacing side view mirrors with cameras and the increasing focus of governments and insurance companies on the incorporation of cameras in automobiles are also fueling the demand f...

The International Organization of Motor Vehicle Manufacturers (OICA) recorded that a total of 21,787,126 commercial vehicles and 55,834,456 cars were manufactured in 2020. The manufacturers of these vehicles are increasingly shifting from heavy metals to lightweight plastics for vehicle interiors, to reduce the overall vehicle weight. The reduction of the vehicle weight helps in enhancing the fuel efficiency. With the rising awareness on the alarming air pollution levels and depleting fossil fuel reserves, customers are increasingly opting for lightweight vehicles. Thus, the booming demand for lightweight vehicles will add to the prosperity of the automotive plastics market in the foreseeable future. Automakers use polybutylene terephthalate, polyurethane, polypropylene, acrylonitrile butadiene styrene, polyvinyl chloride, polycarbonate, high-density polyethylene, and polyamide to reduce the automobile weight. In the coming years, automobile manufacturers will adopt a significant volum...

According to the World Health Organization (WHO), over 1.35 million deaths are caused due to road accidents globally. About 93% of these deaths occur in low-and middle-income countries, even though they only possess around 60% of the world's automobiles. Since a large number of bikers are involved in these accidents, bike manufacturers are being coerced to integrate advanced rider-assistance systems to improve their safety. In an attempt to minimize road accident cases, motorcycle manufacturers and road safety authorities are focusing on connected motorcycles, as these offer enhanced safety features. Moreover, the surging penetration of sports and luxury bikes in emerging economies, such as India and China, and other nations of Asia-Pacific (APAC) and Latin America, Middle East, and Africa (LAMEA) will result in the progress of the connected motorcycle market during 2020–2030. The increasing adoption of these two-wheelers is due to the rising per capita income and soaring purchasin...

The mushrooming popularity of lightweight and fuel-efficient vehicles is pushing up the worldwide demand for automotive thermoplastics. This is because thermoplastic components are extensively used for reducing the weight of the automobile, which, in turn, causes a sharp rise in its fuel economy. Moreover, as thermoplastics are heavily used in various applications in the automobile industry, the expansion of this industry, owing to the burgeoning manufacturing and sales of automobiles, especially in the Asia-Pacific (APAC) region, is driving their demand across the world. Automotive Thermoplastics Market - P&S Intelligence  According to the Organisation Internationale des Constructeurs d’Automobiles, 77,971,234 automobiles were sold all over the world in 2020. Furthermore, as per the India Brand Equity Foundation (IBEF), the automotive industry in India is predicted to witness its value rise to Rs. 16.16-18.18 trillion (US$ 251.4-282.8 billion) by 2026. These materials are bei...

The World Health Organization (WHO) estimates that nearly 1.3 million deaths across the globe occur due to road traffic crashes each year. As per the WHO, 93% of the global deaths on the roads are recorded in low- and middle-income countries, even though such nations are home to 60% of the world’s automobiles. The organization further states that over 20–50 million road accident victims suffer non-fatal injuries, many of which result in disabilities among such victims. Thus, the surging incidence of fatal road accidents will help the automotive adaptive front-lighting system market prosper during 2020–2030. To prevent road crashes, automakers are deploying light-emitting diode (LED), xenon or high-intensity discharge (HID), laser, halogen, and organic light-emitting diode (OLED) adaptive front-lighting systems in their offerings. In the coming years, xenon systems will be adopted at the highest rate because they offer increased visibility of peripheral objects, such as street signs and...

According to the International Energy Agency (IEA), 2.3 million electric cars were sold across the world, in 2020. High volume sales of electric vehicles (EVs) can be attributed to the stringent government emission norms, on account of the rising environmental pollution concerns. Over the last decade, greenhouse gas (GHG) levels have significantly surged due to the vast number of fossil fuel-based automobiles operating on global roads. To mitigate the adverse effects of GHGs, governments across the world are supporting the production and adoption of such cars within their territories. Moreover, the rising consolidation and surging number of joint ventures among the leading electric car manufacturers will fuel the electric car market at a CAGR of 33.6% during 2017–2023. The market sold 0.8 million units in 2016 and it is projected to sell 5.3 million units by 2023. Manufacturers are collaborating with each other to develop novel technologies to create more advanced electric cars that c...

In 2018, the global electric vehicle communication controller market generated a revenue of $97.0 million. The market is predicted to reach a valuation of $553.4 million by 2024. According to the estimates of P&S Intelligence, a market research firm based in India, the market would progress at a CAGR of 34.8% between 2019 and 2024. The rising implementation of favorable government regulations regarding the installation of electric vehicle charging infrastructure is the biggest factor driving the market advancement.  With the soaring pollution levels and deteriorating air quality levels, the popularity of electric vehicles (EVs) is growing rapidly across the world. This is, in turn, boosting the demand for electric vehicle charging facilities and infrastructure. As a result, various governments, charging component providing organizations, and electric vehicle manufacturing companies are making huge investments in the deployment of proper EV charging infrastructure. They are inv...