Automotive Business Point

The major factors driving the New Zealand micromobility market are the convenience and cost-effectiveness of these services, rising need to make the earth greener, and supportive government regulations for these transport solutions. As a result, the cumulative revenue garnered by the providers of these services in this island country will increase to $2,395.1 million by 2030 from $9.5 million in 2020, at a 64.3% CAGR during 2021–2030 (forecast period). These services are essentially provided on two-wheelers, mostly electric, which commuters drive themselves. E-scooters, e-mopeds, e-bikes, e-pods, scooters, and bikes are the categories of the type segment. Among these, the e-scooters category held the largest share in the New Zealand micromobility market in 2020 as these vehicles are immensely popular here. Compared to pedal-assist bikes, e-scooters are faster and more convenient as they save riders’ effort in propelling them forward. Due to the same reason, the scooters category will l

 Since the last few years, the world has seen a sharp rise in the adoption of electric vehicles (EVs), on account of the rising environmental damage being caused due to the widespread usage of oil and gas-powered automobiles. In the developing nations such as India, the sales of EVs have skyrocketed in the recent years, due to the rising public awareness of the harmful emissions released from the fossil fuel-powered vehicles. The total sales of EVs in India rose from 576,000 units to more than 760,000 units from 2018 to 2019, registering a growth rate of 32.0% during that period. According to the World Air Quality Report published by IQAir North America Inc., in 2018, “India ranked third in air pollution ratings, with 72.5 µg/m³ particulate matter (PM) 2.5 concentration”. The report also said that seven out of the top 10 most polluted cities in the world were in India. Furthermore, the report mentioned that 22 cities in India come under the top 30 most polluted cities in the world. Apa

The development of technologies such as internet of things (IoT) and artificial intelligence (AI) have had a positive impact on the automotive industry, just like many other industries. These technologies are increasingly being utilized in vehicles to make them safer and more efficient in order to provide consumers with enhanced driving experience. In addition to this, the focus on development of autonomous cars has increased significantly as well. Because of strong economic growth and increasing disposable income of people, the demand for autonomous vehicles is predicted to increase considerably in the near future.  Technologies such as big data, AI, and IoT are further being extensively utilized for enhancing the safety on roads for pedestrians as well as drivers. Owing to this, the demand for cooperative vehicle infrastructure system (CVIS) is growing swiftly. This system obtains information regarding roads and vehicles by making use of technologies such as sensing detection and wir

The Global Carbon Project database estimates that the global carbon dioxide (CO2) emissions increased from 36.43 billion tonnes in 2018 to 36.45 billion tonnes in 2019. As per the database, the international transport sector emitted 1.27 billion tonnes of CO2 in 2019. Furthermore, Our World in Data states that the CO2 concentration was 408.52 parts per million (ppm) in 2018. The increasing concentration of CO2, especially due to vehicular emissions, is propelling the installation of regenerative braking systems (RBSs) in automobiles, as these systems can mitigate exhaust emissions. Moreover, the burgeoning demand for fuel-efficient vehicles, owing to the depleting reserves of crude oil and growing public awareness on air pollution caused due to its combustion, will help the automotive regenerative braking systems market advance at a healthy CAGR of 18.6% during 2017–2023. The market was valued at $6,555.6 million in 2017, and it is projected to generate $18,228.3 million by 2023. The

Due to the rising demand for safety and comfort features in vehicles, owing to the swift advancements in technology, the demand for advanced driver assistance systems (ADASs) is predicated to boom in the coming years. The rapid advancements in the sensor technology have propelled innovations and developments in electronic equipment, which is promoting the adoption of advanced systems in vehicles, by various manufacturers across the globe. Furthermore, the enhanced comfort and support features provided by ADASs, such as parking aid and cruise control, are further boosting the demand for these systems.  The mushrooming volume of sales of connected cars across the world, on account of the rapid technological advancements, is another major factor fuelling the growth in the demand for ADAS. Moreover, the rising regulations by various governments, especially the ones in developed countries, aimed at increasing vehicular safety, are further pushing the demand for ADAS. Due to these factors, t

 The automotive fuel transfer pump is an integral part of a vehicle, as it is employed for transmission, lubrication, and transfer ofthe fuel to the engine.Unlike before, such pumps are now being usedfor the overall improvement of automobiles’ performance, especially their fuel efficiency. Pumps use electrical or mechanical energy to push the fuel into the combustion chamber of the engine. With the increasing focus on reducing the rate of environmental degradation, manufacturers are coming upwith more-efficient pumps, which adhere to the vehicular emission norms of governments worldwide.The automotive fuel transfer pumps market growth will therefore be driven by the technological advancements in these engine components and changing consumer preference for a higher vehicle fuel efficiency. During the forecast period of 2016–2022, a 4.7% CAGRwill propel the global market revenue from $49,052.6 million in 2015 to a considerable value in 2022. Automobile manufacturers are integrating techn

With the rising penetration of the internet and the increasing use of smartphones, e-commerce sales are surging all over the world. According to the World Bank, around 49.0% of people across the world had access to the internet in 2017. In addition, the growing popularity of online shopping is also fueling the expansion of the e-commerce industry, which is, in turn, driving the demand for forklifts. This is because the conventionally used logistics solutions are not able to meet the demanding delivery schedules and in order to resolve this issue, e-commerce companies are upgrading their strategies. Moreover, many companies are making huge investments in autonomous and electric forklifts, which are being increasingly deployed in warehouses to accelerate the loading, material transfer, and picking processes. Besides this factor, the adoption of advanced technologies, such as the industrial internet of things (IIoT) and robotics in forklift manufacturing operations is also fueling the exp

Factors such as the booming automobile industry and the surging lifespan of vehicles are expected to drive the automotive tire market at a CAGR of 7.7% during the forecast period (2019–2024). The market registered sales of 1,866.7 million units in 2018, and it is projected to sell 2,894.4 million units by 2024. Moreover, the growing preference of automakers for private labeling will create ample growth opportunities for market players in the forthcoming years. One of the primary factors behind the market growth is the increasing lifespan of vehicles, owing to the constant technological advancements being made in the automotive sector. Over the years, automobile manufacturers have been making constant efforts to improve the durability and reliability of vehicles, primarily on account of the rising implementation of stringent government regulations and growing competition among automakers. Besides, the amplifying chances of wear and tear of tires, due to the increasing mileages being off

A number of factors such as the rising need to curtail transportation costs and mitigate air pollution, plunging cost of batteries, and burgeoning demand for efficient transportation services to bridge the gap between first- and last-mile connectivity are expected to propel the Philippines micromobility market at an exceptional CAGR of 158.6% during the forecast period (2021–2030). According to P&S Intelligence, the market revenue will surge from $1.9 million in 2020 to $13,899.7 million by 2030. The surging public and government focus on reducing air pollution, traffic congestion, and transportation costs is expected to drive the demand for micromobility services in the Philippines. For instance, in 2020, the Philippines had an average US air quality index (USAQI) reading of 52 ³. Additionally, the abundant availability of micromobility services and their ability to provide greater convenience than conventional transportation systems are also driving their popularity in the countr

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, micromobility is

The global two-wheeler logistics market revenue stood at $57,260.0 million in 2020, and it is predicted to rise to $355,631.2 million by 2030. According to the estimates of the market research company, P&S Intelligence, the market will demonstrate a CAGR of 20.0% from 2020 to 2030 (forecast period). The major factors driving the expansion of the market are the cost-effectiveness and convenience of these services, surging e-commerce industry, and incorporation of the real-time tracking technology.  In 2020, e-commerce sales accounted for nearly 16% of all retail sales across the world, registering an increment of around 19% from 2019. Further, this share is predicted to rise to 18% by 2021. The e-commerce industry is being propelled by the convenience of online shopping and home delivery and availability of products at great discounts on online platforms. For example, the U.S. Department of Commerce revealed that the total customer expenditure on online shopping stood at $514 billio

Governments across the world are reforming policies to encourage the adoption of carsharing services and reduce car ownership rates to minimize environmental pollution and traffic congestion. Apart from the federal governments of countries, state and local authorities are also taking several initiatives to facilitate the implementation of carsharing programs. For example, in November 2018, the Mayor of London initiated the construction of public parking spaces to facilitate the parking of public vehicles, to reduce the car ownership rate in the capital city. Additionally, the rising concerns regarding greenhouse gas (GHG) emissions and environmental protection will also drive the carsharing market at a CAGR of 11.0% during the forecast period (2019–2025). The market revenue stood at $5,571.2 million in 2018 and it is projected to reach $10,846.9 million by 2025. GHG emissions from automobiles have resulted in the formulation of several stringent environmental policies by national gove

The lower price of hybrid electric cars in comparison to other electric cars is one of the major factors fueling their sales across the world. In terms of costs, these vehicles are positioned between diesel and petrol-powered vehicles and fully electric cars including battery electric vehicles (BEVs), which generally require huge investments from manufacturers in technologies and batteries. For example, a typical hybrid electric vehicle costs $26,000 and it is therefore, significantly more affordable than a BEV, which is usually priced at $43,000. Moreover, these vehicles are also designed similarly to traditional vehicles, which massively contributes to their soaring worldwide popularity. Besides this factor, the increasing implementation of strict emission regulations, soaring gasoline prices, and burgeoning requirement for passenger cars, especially in developing countries such as India, China, Brazil, South Korea, and Indonesia, are also creating lucrative growth opportunities for

The growing defense budget of many countries is a major factor fueling the sales of airborne detection systems for submarines across the world. Due to the increasing threats from terrorist organizations, rising conflicts between nations, and the growing concerns raised over national security, the defense expenditure of several countries has increased massively over the last few years. Furthermore, many nations are rapidly modernizing their defense programs and strengthening their defense capabilities, with the purchase of advanced weapons and machinery.  The rising threats of piracy in sea trade routes and the increasing number of conflicts happening in oceans have made many nations increase their imports of under-water defense equipment and bolster their naval power. For example, “the U.S. Department of Defense requested a budget of $639.1 billion for FY2018, which represents 8.9% increase from the year 2017”. Under this increased budget, 27% of funds were allocated to the U.S. Marin