Automotive Business Point

 According to the latest report by IMARC Group, titled “ Asia Pacific Tire Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027 ”, the  Asia Pacific tire market size  reached 1,170 Million Units in 2021. Looking forward, IMARC Group expects the market to reach 1,520 Million Units by 2027, exhibiting a growth rate (CAGR) of 4.7% during 2022-2027. Industry Overview and Application: Tire refers to a circular automotive component that is made up of natural or synthetic rubber compound, silica, wire, carbon black, steel, etc., and is inflated with compressed air. It is largely available in radial and bias construction variants and numerous sizes. These automotive tire models are custom-built for supporting the weight of a vehicle, absorbing road shocks, and transmitting traction for acceleration and braking. They help maintain and change the direction of travel thereby ensuring passenger safety and a seamless car handling experience. Consequently, t...

The U.S. bus market will reach $11,237.7 million by 2030 at a CAGR of 4.7% during the forecast period, from $7,453.4 million in 2021. This is owing to the rapid urbanization and rising government spending on the advancement of public transport vehicles. Compared to traveling by personal vehicles, they conserve fuel and release lower levels of volatile chemicals into the air. Apart from this, they also meet economical standards, as the cost of traveling by public transport is a lot less than that of a single gallon of gasoline and diesel. U.S. Bus Market Report Analysis 2022-2030 The electric category in the U.S. bus market will have the fastest growth within the propulsion segment, at a CAGR of approximately 30%, in the coming years. This can be ascribed to the subsidies, financial incentives, and tax credits offered by the federal and state governments on the sale of electric buses. Since these are high-occupancy vehicles, they certify for exemptions from toll charges in various stat...

The increasing concerns being raised by several environmental agencies and local governments over the rapid deterioration of air quality are driving the demand for electric buses in the U.S. As vehicular emissions contribute heavily toward the escalating air pollution levels, the degradation of the environment is propelling the deployment of electric buses in the country. Presently, conventional diesel-powered buses are a major part of the public transportation system, but they contribute massively toward the soaring greenhouse gas emissions.  Moreover, the enactment of strict environmental regulations is also positively impacting the deployment of these buses in the country.  Besides these factors, the falling prices of lithium-ion batteries are also supporting the expansion of the U.S. electric bus market, which will witness a surge in its revenue from $490.6 million in 2021 to $1,924.8 million by 2026. According to the estimates of the market research company, P&S Inte...

The World Health Organization (WHO) estimates that nearly 1.3 million human lives are lost due to road traffic crashes worldwide. To reduce the incidences of road accidents and related deaths, the WHO has initiated a package of six strategies — Save LIVES. The components of this initiative are speed management, leadership, infrastructure design, vehicle safety standards, enforcement of traffic laws, and survival after a crash. The vehicle safety standards of this initiative mandate the installation of seat belts, child restraint anchorage points, anti-lock braking devices, and electronic stability control. Thus, the increasing global concerns regarding the high prevalence of road accident fatalities will help the automotive safety system market prosper during 2020–2030. Apart from the international organizations, governments of various countries are also mandating the incorporation of vehicle safety features in passenger cars and commercial vehicles to reduce road accident cases. In th...

With the burgeoning requirement for greater fuel efficiency, many automobile manufacturers are focusing on developing lightweight vehicles. Additionally, lightweight automobiles have better braking and acceleration and are easier to handle than heavier vehicles. Moreover, the weight of the amount of aluminum needed for providing the same strength as that of steel is 40% lesser than steel. Furthermore, the implementation of stringent emission regulations in several countries is also pushing up the requirement for lightweight vehicles, as these vehicles generate lower emissions. This is, in turn, driving the demand for aluminum in the automotive industry .  Besides, 90% of the aluminum used in vehicles can be easily recycled. Owing to these factors, the global automotive aluminum market is exhibiting huge expansion. Currently, the industry is highly fragmented, with the presence of a large number of small organizations such as Alcoa Corporation, Norsk Hydro ASA, Aluminum Corporation ...

Organisation Internationale des Constructeurs d'Automobiles (OICA) estimates that 55,834,456 units and 21,787,126 units of cars and commercial vehicles, respectively, were manufactured across the world in 2020. As the sales of air conditioner filters are directly proportional to automobile production, a surge in it will create a huge requirement for them in the coming years. Moreover, the rising customer need for comfort in vehicles will fuel the integration of AC systems in automobiles . Additionally, the surging implementation and awareness of safety and health regulations will facilitate the automotive air-conditioning filter market growth in the years to come. Such filters clean the air inside automobiles and prevent the entry of pollutants, such as mold spores, dust, smog, and pollen, into the cabin. With the mounting air pollution levels, automobile manufacturers are increasingly incorporating air-conditioning filters in their passenger cars, heavy commercial vehicles (HCVs),...

The International Organization of Motor Vehicle Manufacturers (OICA) estimates that 77,621,582 vehicles were produced globally in 2020, of which 21,787,126 units were commercial vehicles and 55,834,456 units were cars. Thus, the burgeoning production and sales of vehicles, especially in the Asia-Pacific (APAC) and North American regions, is projected to fuel the integration of automotive transmission systems in vehicles in the near future. Moreover, the rapid technological advancements and the surging disposable income of people in developing countries will also help the automotive transmission market prosper in the forthcoming years. For instance, the Reserve Bank of India (RBI) data reveals that the gross national disposable income and net national disposable income of India grew from INR 1,92,62,652 crore in the financial year (FY) 2018–2019 to INR 2,06,30,319 crore in the FY 2019–2020 and INR 1,72,83,028 crore in the FY 2018–2019 to INR 1,85,11,719 crore in the FY 2019–2020, respec...