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Press Releases from MarketsandMarkets™ INC. (915 total)

Automotive Operating System Market Estimated to Reach $25.8 billion by 2030

The global automotive operating system market is projected to grow from USD 12.7 billion in 2022 to USD 25.8 billion by 2030, at a CAGR of 9.2%. Factors such as growing numbers of ECUs/domain controllers in vehicles, paired with increasing demand for high-end vehicles are expected to augment revenues for the automotive operating system market. Advent of software-defined vehicles, in conjunction with development in autonomous vehicles are likely to create

Cell to Pack Battery Market Set to Reach $79.0 billion by 2033

The global cell to pack battery market is projected to grow at a CAGR of 15.5% during the forecast period, from an estimated market size of USD 18.7 billion in 2023 to USD 79.0 billion by 2033. The cell to pack battery market growth is influenced by factors such as the increase in the electric vehicle sales equipped with high energy density, fast charging and light weight batteries. These batteries can

Electric Vehicle Tires Market Projected to Reach $11.2 billion by 2030

the global electric vehicle tires market size is projected to grow from USD 2.8 billion in 2023 to USD 11.2 billion by 2030, at a CAGR of 21.7%. The rise in focus towards e-mobility is expected to increase the demand for electric vehicle tires. Also, the strong policies set by the regulatory bodies and governments to combat carbon effluents from passenger and commercial vehicles is anticipated to promote the revenue

Mobility as a Service Market Set to Reach $40.1 Billion by 2030

Mobility as a Service market is projected to grow from USD 5.7 billion in 2023 to USD 40.1 billion by 2030, at a CAGR of 32.2% over the forecast period. The increasing need to reduce carbon emissions and awareness of environmental issues have driven a growing interest in sustainable transportation options. MaaS promotes the use of shared mobility services, electric vehicles, and public transit, which are generally more eco-friendly than private

Automotive Software Market Estimated to Reach $32.3 Billion by 2030

The global automotive software market size is projected to grow from USD 19.0 billion in 2023 to USD 32.3 billion by 2030, at a CAGR of 7.8%. The rise in focus towards software-defined vehicles paired with increasing penetration of ADAS features in vehicles are expected to increase the demand for automotive software solutions. Also, the strong government support for vehicle safety paired with rising adoption of software-over-the-air (SOTA) updates are

Farm Equipment Market's $136.3 Billion Projection by 2028

The global farm equipment market is projected to grow from USD 107.7 billion in 2023 to USD 136.3 billion by 2028, at a CAGR of 4.8% from 2023 to 2028. Growing demand for mechanization in agriculture with supporting subsidies & incentives from governments is projected to drive the demand for farm tractors. The market is set to grow, driven by the increasing popularity of electric and autonomous tractors, as well

Train Battery Market Estimated to Reach $378 Million by 2030

The global train battery market is projected to grow from USD 277 million in 2023 to USD 378 million by 2030 at a CAGR of 4.6% from 2023 to 2030. The growth in the train battery market is primarily driven by factors such as development in the rail network, strengthening emission norms, and growing operating costs of the urban rail network, which are considered the most significant drivers of the

Hypercharger Market Set to Surge: Projected to Reach 273.7 Thousand Units by 203 …

The Hypercharger market size is projected to grow from 10.4 Thousand Units in 2023 and projected to reach 273.7 Thousand Units by 2030, at a CAGR of 59.5%. The Hypercharger demand is primarily driven by the growing popularity and adoption of electric vehicles (EVs). As more consumers and businesses transition to electric mobility, there is a heightened need for charging solutions that offer ultra-fast charging speeds. Hypercharger addresses the time

Automotive Software Market Estimated to Reach $32.3 Billion by 2030

The global automotive software market size is projected to grow from USD 19.0 billion in 2023 to USD 32.3 billion by 2030, at a CAGR of 7.8%. The rise in focus towards software-defined vehicles paired with increasing penetration of ADAS features in vehicles are expected to increase the demand for automotive software solutions. Also, the strong government support for vehicle safety paired with rising adoption of software-over-the-air (SOTA) updates are

Automotive V2X Market Set to Reach $19.5 Billion by 2028

The global automotive V2X market is projected to grow from USD 2.6 billion in 2022 to USD 19.5 billion by 2028, at a CAGR of 39.7%. Factors such as developments in connected car technology, paired with increasing focus towards traffic safety are expected to augment revenues for the automotive V2X market. Advancements in 5G technology, in conjunction with development in autonomous vehicles will create favorable opportunities for this market. Download

EV Charging Station Market worth $76.9 billion by 2027

The EV Charging Station market is projected to grow from USD 11.9 billion in 2022 to USD 76.9 billion by 2027, registering a CAGR of 45.0% from 2022 to 2027. Factors such as rising EV sales worldwide, along with government support and policies for mass EV adoption, are positively driving the growth of the EV charging station market. Furthermore, the reduction in EV prices over the years and decreasing EV

Electric Bus Market Projected to Reach $48.1 Billion by 2030

The global electric bus market is projected to grow at a CAGR of 14.5% during the forecast period, from an estimated market size of USD 18.6 billion in 2023 to USD 48.1 billion by 2030. Rising GHG emissions and the increasing need for sustainable mobility solutions influence the electric bus market growth. Furthermore, the transport sector is one of the largest contributors to GHG emissions globally. For these reasons, many countries

E-Bike Market worth $77.2 billion by 2028

The global E-Bike market is projected to reach USD 77.2 billion by 2028 from USD 51.5 billion in 2023, at a CAGR of 8.4% from 2023 to 2028. The growth in the E-Bike industry is expected mainly because E-Bikes offer a healthy, eco-friendly solution for commuting at a much lower price than electric two-wheelers and help deal with increasing traffic congestion. The E-Bikes are mainly popular in European and American

Electric Scooter and Motorcycle Market Projected 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. The market for electric scooters and motorcycles is expected to rise as a result of reasons including rising fuel prices, the adoption of emissions-free transportation, and advantageous government policies including subsidies and tax

EV Battery Market Estimated to Reach $134.6 Billion by 2027

The global EV battery market is projected to grow at a CAGR of 19.0% from USD 56.4 billion in 2022 to USD 134.6 billion by 2027. The growth of the EV battery market can be attributed to the increasing demand of electric vehicles, improvement in battery technology, supporting government policies and regulations, and launch of new plug-in EV models. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=100188347 The lithium-ion battery segment is expected to be

Automotive Actuators Market Projected to reach $29.3 billion by 2030

The Automotive Actuators Market is projected to grow from an estimated USD 20.9 billion in 2023 to reach USD 29.3 billion by 2030 at a CAGR of 4.9% during the forecast period. Automakers are highly focused on developing new and improved components to increase the fuel efficiency of vehicles owing to growing concerns over environmental changes. Automotive actuators play a significant role in reducing emissions and enhancing vehicle efficiency. Electric

Automotive Wiring Harness Market Surge to reach $59.5 billion by 2030

The global automotive wiring harness market is projected to grow from USD 48.7 billion in 2023 to USD 59.5 billion by 2030, at a CAGR of 2.9% from 2023 to 2030 The market is driven by factors such as increasing vehicle production, increased adoption of electric vehicles, increased number of new features in modern vehicles, etc. The shift towards electric & hybrid vehicles and vehicles with ADAS features drives the

Connected Car Market Projected to Reach $56.3 billion by 2026

The connected car market size is projected to reach USD USD 56.3 billion by 2026, from an estimated USD 23.6 billion in 2021, at a CAGR of 19.0%, from 2021 to 2026. The growth of the connected car market is influenced by factors such as the increasing trend of in-vehicle connectivity solutions, the development of smart city infrastructure, 5G infrastructure, and intelligent transportation systems. The developments and popularity of Mobility-as-service

Electric Vehicle Market Size, Share, Growth, Forecast, Report, 2030

The global EV market is projected to grow from USD 388.1 billion in 2023 to USD 951.9 billion by 2030, registering a CAGR of 13.7%. The electric vehicle (EV) market is currently experiencing a transformative phase of rapid growth and innovation. With increasing global concern over climate change and air pollution, coupled with advancements in technology and supportive government policies, the adoption of EVs has gained tremendous momentum. Consumers are

EV Charging Station Market Value Predicted to Reach $76.9 Billion by 2027

The EV Charging Station market is projected to grow from USD 11.9 billion in 2022 to USD 76.9 billion by 2027, registering a CAGR of 45.0% from 2022 to 2027. Factors such as rising EV sales worldwide, along with government support and policies for mass EV adoption, are positively driving the growth of the EV charging station market. Furthermore, the reduction in EV prices over the years and decreasing EV

The Electric Vehicle Boom: A Global Paradigm Shift in Transportation

Stringent emissions regulations have shifted the global focus on electric vehicles, resulted in an exponential growth of these vehicles in recent years. According to IEA publication, though car sales dropped by ~16% during the pandemic, electric vehicle sales increased by 41%. According to IEA, number of on-road electric cars by the end of 2021 was about 16.5 million globally, three times the number of EVs in 2018. As per latest

BATTERY SWAPPING TO EMERGE AS THE GAME CHANGER FOR RAPID EV ADOPTION

Battery swapping is one of the most promising charging concepts being adopted in the EV sector to address the concerns related to conventional charging infrastructure. This includes replacing the depleted battery from the vehicle with a fully charged one. Since there is no charging involved for the user, battery swapping is comparable to refueling ICE engines, thereby making it more feasible. Considering the continued concerns on EV driving range, battery

Automotive Fuel Cell Market Projected to reach 724 thousand units by 2030

The automotive fuel cell market is projected to grow from 25 thousand units in 2022 to 724 thousand units by 2030, registering a CAGR of 52.4%. The growing growing demand of zero-emission commercial and passenger vehicles, increasing hydrogen infrastructure, flourishing long-range freight transport industry, and rising commercial transport are expected to increase the demand for fuel cell electric vehicles. Fuel cell operated vehicles such as buses, LCVs, passenger cars, and

Automotive Camera Market Projected to reach $13.9 billion by 2028

The automotive camera market is projected to grow from USD 8.0 billion in 2023 to USD 13.9 billion by 2028, at a CAGR of 11.7% during the forecast period. The cameras are used as advanced safety devices for enhancing the visibility of the surrounding environment to improve vehicle safety. The growing demand for Advanced Driver Assist Systems (ADAS) in developed and developing nations is attributed to using automotive cameras in

Automotive Turbocharger Market Surge to reach $22.2 billion by 2028

The automotive turbocharger market is projected to grow from USD 15.0 billion in 2023 to USD 22.2 billion by 2028, at a CAGR of 8.1%. The automotive turbocharger market is driven by decreasing emission limits and increased demand for high-performance vehicles. With the shift from diesel to gasoline in light-duty vehicles and growing vehicle hybridization, gasoline and electric turbochargers would be the future potential markets for turbocharger manufacturers. Download PDF Brochure

Automotive Smart Display Market Projected to Reach $10.9 billion by 2025

The Automotive Smart Display Market is estimated to be worth USD 7.2 billion in 2020 and is projected to reach USD 10.9 billion by 2025, at a CAGR of 8.8% during the forecast period. The market is driven by increased customer awareness about road and vehicle safety, demand for improved consumer experience in vehicles, and high growth in the luxury and high-end cars segments, mainly in the emerging markets. Automotive

E-Bike Market Set to Search $77.2 billion by 2028

The global E-Bike market is projected to reach USD 77.2 billion by 2028 from USD 51.5 billion in 2023, at a CAGR of 8.4% from 2023 to 2028. The growth in the E-Bike industry is expected mainly because E-Bikes offer a healthy, eco-friendly solution for commuting at a much lower price than electric two-wheelers and help deal with increasing traffic congestion. The E-Bikes are mainly popular in European and American

Automotive Filters Market Set to Reach $13.1 Billion by 2027

The automotive filters market is projected to grow from USD 11.1 billion in 2022 to USD 13.1 billion by 2027, at a CAGR of 3.3% for the same period. Increasing global vehicle production is the key factor driving the demand for automotive filters. Additionally, rising stringency in emission, fuel economy, and safety regulations will fuel the demand for automotive filters such as brake dust, DPF, GPF, & Urea. In addition,

Automotive Cybersecurity Market Surge to reach $6.0 billion by 2028

The global automotive cybersecurity market size is projected to grow from USD 2.5 billion in 2023 to USD 6.0 billion by 2028, at a CAGR of 18.5%. The automotive cybersecurity market is driven by the increasing demand for ADAS technology in vehicles along with growing demand for vehicle-to-everything technology. In addition, the increasing penetration of electric vehicle paired with rising demand for semi-autonomous/ autonomous vehicles are anticipated to bolster the

Electric Vehicle Market Set to Reach $951.9 billion by 2030

The global electric vehicle market size is projected to grow from 8,151 thousand units in 2022 to 39,208 thousand units by 2030, at a CAGR of 21.7%. Factors such as growing demand for low emission commuting and governments supporting long range, zero emission vehicles through subsidies & tax rebates have compelled the manufacturers to provide electric vehicles around the world. The rapidly growing sales volume of EV's in Asia Pacific,

Recreational Boat Market Projected To reach $25.9 billion by 2028

The global recreational boat market, by value, is estimated to be USD 18.9 billion in 2023 and is projected to reach USD 25.9 billion by 2028, at a CAGR of 6.5% from 2023 to 2028. The market for recreational boat is expected to rise as a result of reasons including, the adoption of emissions-free transportation, and advantageous government policies including subsidies, rise in boat industry electrification. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=227150980 Yacht segment

Brake System Market Estimated to Reach $28.1 billion by 2027

The brake system market is projected to reach USD 28.1 billion by 2027 from an estimated USD 22.2 billion in 2022, at a CAGR of 4.8% during the forecast period. The brake system market growth is mainly driven by the regulations on stopping distance and safety standards in countries such as China, India, Brazil, European Union, the US, and Canada, among others. In addition, increased demand for luxury cars would boost

Mobility as a Service Market Set to Reach $40.1 billion by 2030

Mobility as a Service market is projected to grow from USD 5.7 billion in 2023 to USD 40.1 billion by 2030, at a CAGR of 32.2% over the forecast period. The increasing need to reduce carbon emissions and awareness of environmental issues have driven a growing interest in sustainable transportation options. MaaS promotes the use of shared mobility services, electric vehicles, and public transit, which are generally more eco-friendly than private

Automotive Operating System Market Projected to Reach $25.8 Billion by 2030

Automotive Operating System Market worth $25.8 billion by 2030. Factors such as growing numbers of ECUs/domain controllers in vehicles, paired with increasing demand for high-end vehicles are expected to augment revenues for the automotive operating system market. Advent of software-defined vehicles, in conjunction with development in autonomous vehicles are likely to create favorable opportunities for the automotive operating system market during the forecast period. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=257628775 QNX segment is

EV Battery Market Projected to Reach $134.6 Billion by 2027

The global EV battery market is projected to grow at a CAGR of 19.0% from USD 56.4 billion in 2022 to USD 134.6 billion by 2027. The growth of the EV battery market can be attributed to the increasing demand of electric vehicles, improvement in battery technology, supporting government policies and regulations, and launch of new plug-in EV models. The passenger cars segment is expected to be the largest vehicle type

EV Charging Cable Market Estimated to Reach $3.9 Billion by 2030

The global EV charging cable market is projected to grow from USD 1.3 billion in 2023 to USD 3.9 billion by 2030, registering a CAGR of 16.7%. The Electric Vehicle (EV) charging cable market is currently undergoing a dynamic transformation driven by the rapid proliferation of electric vehicles. As the global consciousness shifts toward eco-friendly transportation and governments worldwide incentivize electric mobility, the demand for innovative charging solutions has reached

Electric Scooter and Motorcycle Market Projected to Reach $14.7 billion by 2028

The global electric scooter and motorcycle market, by value, is estimated to be 4.9 USD Billion in 2023 and is projected to reach 14.7 USD Billion by 2028, at a CAGR of 24.8% from 2023 to 2028. electric Governments' backing of electric two-wheelers through subsidies and tax breaks, as well as factors like rising demand for energy-efficient commuting, have forced two-wheeler OEMs to look beyond the usage of traditional internal

Construction Equipment Market Projected to Reach $194.7 Billion by 2030

The Construction Equipment market is projected to grow from USD 149.7 billion in 2023 to USD 194.7 billion by 2030, at a CAGR of 3.8%. The sales of Construction Equipment are observed to have dropped due to the recession impact between 2023 and 2025 and hence show a declining trend in China, the US, Russia, and South Africa. This downside is due to inflation, a severe issue throughout 2022, and while

Wireless Charging Market for Electric Vehicles Projected to Reach $377 million b …

The global Wireless Charging Market for Electric Vehicles is projected to grow from USD 15 million in 2022 to USD 377 million by 2027, at a CAGR of 88.4%. Factors such as rising sales of EVs around the world, coupled with the growing focus towards autonomous vehicles will boost the demand for the wireless charging market electric vehicles. The Wireless Charging Market for Electric Vehicles is dominated by major players

Farm Equipment Market Projected to Reach $136.3 Billion by 2028

The global farm equipment market is projected to grow from USD 107.7 billion in 2023 to USD 136.3 billion by 2028, at a CAGR of 4.8% from 2023 to 2028. Growing demand for mechanization in agriculture with supporting subsidies & incentives from governments is projected to drive the demand for farm tractors. The market is set to grow, driven by the increasing popularity of electric and autonomous tractors, as well

EV Charging Station Market Projected to Reach $76.9 billion by 2027

The EV Charging Station market is projected to grow from USD 11.9 billion in 2022 to USD 76.9 billion by 2027, registering a CAGR of 45.0% from 2022 to 2027. Factors such as rising EV sales worldwide, along with government support and policies for mass EV adoption, are positively driving the growth of the EV charging station market. Furthermore, the reduction in EV prices over the years and decreasing EV

Automotive Tire Market Projected to Reach $21.6 billion by 2028

Automotive tire market is estimated to grow from USD 19.6 billion in 2023 to USD 21.6 billion by 2028 at a CAGR of 2.0% over the forecast period. The increasing demand for mid- & full-size SUVs and luxury cars will drive the automotive tires market. Also, the replacement market is primarily driven by the rising average life of vehicles and average annual miles traveled by light-duty vehicles. In the commercial vehicle

E-Bike Market Projected to Reach $77.2 Billion by 2028

the global E-Bike market is projected to reach USD 77.2 billion by 2028 from USD 51.5 billion in 2023, at a CAGR of 8.4% from 2023 to 2028. The growth in the E-Bike industry is expected mainly because E-Bikes offer a healthy, eco-friendly solution for commuting at a much lower price than electric two-wheelers and help deal with increasing traffic congestion. The E-Bikes are mainly popular in European and American

Thermal Systems Market Surge to reach $41.7 billion by 2027

The thermal systems market is projected to reach USD 41.7 billion by 2027 from USD 37.6 billion in 2022, at a CAGR of 2.1%. The growing stringency in emission regulations, rising demand of mid & full size SUV and luxury vehicle with enhanced cabin comfort will drive the thermal systems market. Moreover, rising adoption of electric & hybrid vehicles and the advancements in semi-autonomous and autonomous vehicles would bring tremendous

Passenger Car Seat Market Projected to reach $46.1 billion by 2030

The passenger car seat market is estimated to grow from USD 42.5 billion in 2023 to USD 46.1 billion by 2030 at a CAGR of 1.1% over the forecast period. The growth in the passenger car seat market is driven by increased vehicle sales worldwide, especially due to increased demand for full-size SUVs requiring seven seats. According to the MarketsandMarkets report, the need for full-sized SUVs will grow from USD

Low-Speed Vehicle Market Set to reach $15.0 billion by 2028

The low speed vehicle market was valued at $0.4 billion in 2023 and is expected to reach $15.0 billion by 2028, at a CAGR of 7.4% during the forecast period 2022-2028. Low speed vehicles (LSVs) are 4-wheeled vehicles with a maximum capable speed of typically about 25 mph (40 km/h). These vehicles are used as industrial vehicles, neighborhood vehicles, turf utility vehicle, and golf carts. It is easy to maneuver

Automotive LiDAR Market Set to reach $8,611 million by 2030

The global automotive LiDAR market is projected to grow from USD 555 million in 2022 to USD 8,611 million by 2030, at a CAGR of 40.9%. Factors such as increasing inclination towards semi-autonomous vehicles, paired with increasing demand for high-end vehicles are expected to augment revenues for the automotive LiDAR market. Rising sales of EVs, in conjunction with development in autonomous vehicles are likely to create favorable opportunities for the automotive

Automotive Suspension Market Set to reach $51.6 billion by 2027

The global automotive suspension market is expected to grow from $45.3 billion in 2022 and is projected to reach $51.6 billion in 2027, at a CAGR of 2.6% during the forecast period. The demand for automotive suspension is driven by the increase in demand for vehicle comfort and safety and the increasing adoption of air suspension systems in HCVs. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=939 Active suspension - the fastest growing suspension system

Mining Machinery Market Estimated to reach $32.8 billion by 2030

The mining machinery market is projected to grow from USD 24.8 billion in 2023 to USD 32.8 billion by 2030, at a CAGR of 4.1%. The rise in demand for minerals and metals, exploration of new mines, and expansion of existing mines are some factors influencing the growth of the mining machinery market.Apart from this, the increase in stringent emission norms has motivated the mining machinery manufacturers to develop electric

Electric Bus Market Set to reach $678.3 billion by 2030

The global electric bus market is projected to grow at a CAGR of 41.7% during the forecast period, from an estimated market size of USD 58.9 billion in 2023 to USD 678.3 billion by 2030. Rising GHG emissions and the increasing need for sustainable mobility solutions influence the electric bus market growth. Furthermore, the transport sector is one of the largest contributors to GHG emissions globally. For these reasons, many countries

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