Advancing Energy Storage: The Rise of Cell-to-Pack Battery Technology
Stringent emissions regulations have shifted the global focus on electric vehicles, which has resulted in an exponential growth of these vehicles in recent years. According to International Energy Agency (IEA) publication, though car sales dropped by ~16% during the pandemic, electric vehicle sales increased by 41%. According to IEA, the number of on-road electric cars across the globe by the end...
Automotive Software Market Estimated to reach $40.1 billion in 2027
The global automotive software market in terms of revenue was estimated to be worth $21.7 billion in 2022 and is poised to reach $40.1 billion by 2027, growing at a CAGR of 13.1% from 2022 to 2027.
The ADAS & safety system segment is expected to be the largest application of the automotive software market
Increasing adoption of the advance driver assistance system in vehicles is one of the...
Innovations in Automotive Lighting: Opportunities and Challenges in the Global Market
The global automotive lighting market in terms of revenue was estimated to be worth $21.9 billion in 2022 and is poised to reach $28.5 billion by 2027, growing at a CAGR of 5.3% from 2022 to 2027.
The passenger Car segment is expected to be the largest and leading segment for the automotive lighting market
Passenger cars are expected to be the largest segment of the automotive lighting market....
EV Battery Market Projected to reach $134.6 billion by 2027
The global EV battery market in terms of revenue was estimated to be worth $56.4 billion in 2022 and is poised to reach $134.6 billion by 2027, growing at a CAGR of 19.9% from 2022 to 2027.
The market for EV batteries is being driven by factors such as rising demand for electric vehicles, advancements in battery technology, favourable government policies and regulations, and the introduction of...
Ride-sharing Market Projected to reach $185.1 billion by 2026
The global ride-sharing market is projected to grow at a CAGR of 16.6% during the forecast period, from an estimated market size of USD 85.8 billion in 2021 to USD 185.1 billion by 2026. The ride-sharing market has gained popularity over the past few years because companies are trying to make transportation more reliable, convenient, enjoyable, and safe. The prime purpose of such transportation is...
Battery Swapping Market Drivers, Opportunities and Key Market Players by 2027
The battery swapping market is projected to grow from USD 1.7 billion in 2022 to USD 11.8 billion by 2027, at a CAGR of 46.9% during the forecast period. Increased demand for efficient, long-range, and low-emission vehicles is expected to boost the battery swapping market. Countries around the world are undertaking efforts to reduce emissions from vehicles in the coming decades. Compared to battery...
Car Care Products Market Projected to reach $4.8 billion by 2027
The global car care products market is projected to grow from USD 4.4 billion in 2022 and reach USD 4.8 billion in 2027, at a CAGR of 1.9%. Car care products are usually surface solvents and chemicals (acids or bases) used for removing stains, cleaning marks, restoring gloss and shine of car surfaces. Car care products are used to prevent or repair damages like swirl marks, scratch, paint fade to...
Forklift Market Projected to reach $84.5 billion by 2027
The forklift market is projected to grow from USD 58.9 billion in 2022 to USD 84.5 billion by 2027, at a CAGR of 7.5% for the same period. The base year for the report is 2021, and the forecast period is from 2022 to 2027. The market would witness growth owing to driving factors such as stringent emission norms, increasing need for sustainable material handling equipment for intralogistics operations,...
Gasoline Direct Injection Market Projected to reach $7.3 billion by 2027
The gasoline direct injection market is estimated to grow from USD 5.1 billion in 2022 to USD 7.3 billion by 2027 at a CAGR of 7.1% over the forecast period. The gasoline direct injection market is driven by factors such as CO2 reduction targets, cost-effectiveness over diesel direct injection, and an increasing trend of engine downsizing. However, factors that can hinder the market growth are the...
Automotive Wheels Aftermarket Size | Industry Report, 2027
The Automotive Wheels Aftermarket is projected to grow at a CAGR of 3.5% from USD 3.4 billion in 2022 to reach USD 4.1 billion by 2027.
The growth of the automotive wheels aftermarket is influenced by factors such as accident rates, changing consumer preferences for stylish wheels, and the growing number of automobile enthusiasts in Europe and North America. Environmental regulations in Europe...