Automotive Steering System Market worth $39.5 billion by 2027
The Automotive Steering System market is projected to grow from USD 35.3 billion in 2022 to USD 39.5 billion by 2027, at a CAGR of 2.3% over the forecast period.
The rapid adoption of Electric Vehicles (EVs) worldwide creates a huge demand for Electrical Power Steering (EPS) and Steer-by-Wire (SbW) steering systems. Integration of Advanced Driver Assistance Systems (ADAS) with EPS has helped OEMs...
EV Platform Market Size worth $68.0 billion by 2030
The EV platform market is estimated to grow from USD 9.0 billion in 2022 to USD 68.0 billion by 2030 at a CAGR of 28.7% over the forecast period.
Preference for high-voltage and long-distance range EVs, high demand for solid-state batteries in EVs, growing demand for end-to-end software-defined vehicles, and development of lightweight EVs would create growth opportunities in the EV platform industry.
Utility...
Sensor Market for Automated Vehicles worth $19.1 billion by 2030
The sensor market for automated vehicles is projected to grow from USD 0.4 billion in 2022 to USD 19.1 billion by 2030, registering a CAGR of 62.6%.
The growing demand of safer, efficient and fuel-efficient vehicles are expected to increase the demand for automated vehicles around the world. With this, the demand for sensors for automated vehicles such as cameras, radar sensors, lidar sensors,...
Electric Truck Market worth $32,133.4 million by 2032
The electric truck market is estimated at USD 5,247.2 million in 2025. It is projected to grow at a CAGR of 29.5%, reaching USD 32,133.4 million by 2032.
The electric truck market is swiftly evolving as governments and fleets push for cleaner freight solutions. With prominent players such as AB Volvo and BYD rolling out models for urban delivery and long-haul routes, adoption is accelerating. For...
Connected Tires Market worth $54 million by 2028
The global connected tires market size is projected to grow from USD 4 million in 2023 to USD 54 million by 2028, at a CAGR of 67.1%. Growing demand for road safety, increased vehicle features are driving the demand for connected tires. With features like tire pressure monitoring, tread wear analysis, and temperature sensing, connected tires offer enhanced safety on the road. Drivers and fleet managers...
Micromotor Market worth $68.3 billion by 2028
The micromotor market is projected to grow from USD 44.8 billion in 2023 to USD 68.3 billion by 2028, at a CAGR of 8.8% during the forecast period. Micromotors have wide applications in automotives, medical equipment, agriculture equipment system, aircraft systems, industrial automation processes, etc. With the increase in demand for miniaturization of components in automotive, medical devices, aerospace...
Automotive TIC Market worth $20.9 billion by 2028
The global automotive TIC market is projected to grow from USD 17.7 billion in 2023 to USD 20.9 billion by 2028, registering a CAGR of 3.4%.
The growing demand of safer, efficient and fuel-efficient mobility alternative is expected to drive the demand for automotive TIC services around the world. For instance, the demand for TIC services for automotive components such as EV Battery, EV Motors,...
Automatic Tire Inflation System Market worth $138 million by 2028
The automatic tire inflation system market is projected to grow from USD 82 million in 2023 to USD 138 million by 2028, at a CAGR of 10.7% during the forecast period.
The increasing demand for improved tire life and to prevent accidents due to tire blowouts, the demand for ATIS in heavy-duty vehicles and farm tractors would create growth opportunities.
ATIS for Farm Tractor is expected to be...