In-Wheel Motor Market Projected to Reach $4,395 Million by 2026
Global in-wheel motor market is projected to grow at a CAGR of 40.3% during the forecast period to reach USD 4,395 million by 2026 from an estimated USD 808 million in 2021 The major factors behind the growth of the in-wheel motor market are improved vehicle performance, replacement of transmission, drive shaft, axles, and differentials. In-wheel motor helps supply torque to its associated tire and...
Electric Utility Vehicle Market Share, Size, Growth, Trends 2027
The global electric utility vehicle market is projected to grow from USD 18.9 billion in 2022 to USD 23.9 billion by 2027, registering a CAGR of 4.8%. Electric all-terrain vehicles (ATVs), utility task vehicles (UTVs), utility carts, shuttle carts, and industrial utility vehicles were mapped as part of this research. Factors such as improved government push for electrification of agricultural utility...
Electric Construction Equipment Market Size, Share, Trends, Analysis 2027
The Electric Construction Equipment Market is estimated to grow from USD 9.2 billion in 2022 to USD 24.8 billion by 2027 at a CAGR of 22.0% over the forecast period. Strict vehicular emission regulations and high ventilation costs in underground mining drive the development of the electric off-highway equipment market during the forecast period
The government’s initiatives to boost the sustainable...
Electric Scooter and Motorcycle Market Surge to Reach $14.7 billion by 2028
The global electric scooter and motorcycle market, by value, is estimated to be USD 4.9 billion in 2023 and is projected to reach USD 14.7 billion by 2028, at a CAGR of 24.8% from 2023 to 2028.
With rising emission levels, increasing prices, and the limited availability of petroleum, the demand for zero-emission alternative fuel vehicles has increased. This has, in turn, increased the demand for...
Automotive Valves Market Size, Share, Growth, Trends & Forecast 2027
The global automotive valves market is projected to grow at a CAGR of 2.3% from 2022 to 2027, to reach USD 28.2 billion by 2027. The major factors driving the market are demand for HVAC systems, Increase in vehicle production, growing adoption of hybrid electric vehicles (HEVs).
BEV is expected to have fastest growth in automotive valves market
BEVs have been witnessing an increase in their...
EV Test Equipment Market Size, Share, Growth, Report, Forecast 2027
The global EV test equipment market size is projected to reach USD 242 million by 2027, from an estimated USD 79 million in 2022, at a CAGR of 25.2%. The base year for the report is 2021, and the forecast period is from 2022 to 2027. Conventional ICEs are expected to be replaced by electric and hybrid powertrains by 2025. Thus, the shift toward electric vehicles is expected to lead to the further...
Railway System Market Projected to Reach $30.9 Billion by 2027
The global railway system market was valued at USD 25.1 billion in 2022 and is expected to reach USD 30.9 billion by 2027, at a CAGR of 4.2% during the forecast period 2022 to 2027. Inadequate infrastructure and degradation of air quality are some of the key concerns of major metropolitan cities. High gasoline prices, traffic congestion, and GHG emissions are some of the other challenges for city...
Automotive Ambient Lighting Market Size, Share, Report, Analysis 2027
The automotive ambient lighting market size is projected to reach USD 6.2 billion by 2027 from an estimated USD 3.8 billion in 2022, at a CAGR of 10.6% from 2022 to 2027. The market is expected to witness growth due to increasing vehicle production, customer inclination towards comfort and safety features. Similarly, the growing demand for comfort and safety features in premium segment vehicles in...
Automotive Tire Market Estimated to Reach $21.6 Billion by 2028
The tires replacement market is projected to grow at a CAGR of 2.0% to reach a market size of USD 21.6 billion by 2028 from 19.6 billion in 2023. The market growth is primarily driven by a growing vehicle fleet, an increase in demand for high-performance tires and increasing average life of vehicles. The number of vehicles on the road is increasing owing to the improving road infrastructure, consumer...
Electric Commercial Vehicle Market Size, Growth, Share, Trends 2030
The global electric commercial vehicle market size is expected to grow from approximately 519.4 thousand units in 2023 to reach 2,155.1 thousand units by 2030, at a CAGR of 22.5%. Factors such as rise in pollution and environmental hazards, stringent government regulations, and stiff competition have resulted in automotive OEMs to make fuel-efficient and environment friendly ECVs.
Extensive efforts...