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Press Releases from MarketsandMarkets™ INC. (915 total)

Automotive V2X Market Projected to reach $19.5 billion by 2028

The global automotive V2X market was valued at USD 2.6 billion in 2022 and is expected to reach USD 19.5 billion by 2028, at a CAGR of 39.7% during the forecast period 2022 to 2028. Factors such as increasing concerns related environmental pollution, along with the increase in demand for connected vehicles will boost the demand for the automotive V2Xs. Increase in developments related to autonomous vehicles, in conjunction with

Battery Swapping Market Projected to reach $11.8 billion by 2027

The global 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. Battery swapping is an alternative method of powering an electric vehicle and involves exchanging discharged batteries for charged ones. This swap method removes the direct relation between the vehicle and the battery, thus decreasing the initial cost of buying an electric

Electric Vehicle Market Estimated to Reach $951.9 Billion by 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%. With advancements in technology, increasing environmental consciousness, and supportive government policies, EVs have gained significant traction as a viable and sustainable transportation option. As concerns over climate change and air pollution intensify, consumers and industries are increasingly turning to electric vehicles to reduce their carbon

Cell to Pack Battery Market Projected to reach $29.3 billion by 2030

The global cell to pack battery market is projected to grow at a CAGR of 26.9% during the forecast period, from an estimated market size of USD 5.5 billion in 2023 to USD 29.3 billion by 2030. 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

Metaverse Market for Automotive Surge to reach $16.5 billion by 2030

The global metaverse market for automotive is projected to grow from USD 1.9 Billion in 2022 to USD 16.5 Billion by 2030, at a CAGR of 31.4%. OEMs, hardware and software providers are investing significant amounts in research and testing of metaverse technology for automotive industry. Factors such as rising use NFTs in the virtual space, inexpensive and convenient manufacturing and testing of vehicles in the virtual space will

ADAS Market Poised to reach $65.1 billion by 2030

The global ADAS market is projected to grow from an estimated USD 30.9 billion in 2022 to USD 65.1 billion by 2030, registering a CAGR of 9.7%. Factors such as increasing concern for road safety, efficient R&D for ADAS component design and government mandates for vehicle safety will drive the market for ADAS systems in the coming years. The growing demand for advanced driving features in automobiles is supported by

Automotive Camera Market Estimated 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%. The growth of this market can be attributed to the growing trend of ADAS-featured vehicles and the surge in the demand for electric vehicles. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=125124333 According to primary and secondary analysis, North America is the largest market for automotive cameras while

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 base year for the report is 2021, and the forecast period is from 2022 to 2027. The automotive industry places a strong emphasis on efficiency, emission-free propulsion, and cutting-edge technologies as a result of the government's increasingly strict regulations regulating emissions created by

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

The mobility as a service market size is projected to reach USD 40.1 billion by 2030 from an estimated USD 3.3 billion in 2021, at a CAGR of 32.1% from 2021 to 2030. The growth of this market is influenced by factors such as increasing smart city initiatives, growing adoption of on-demand mobility services, need to reduce CO2 emissions, improved 4G/5G infrastructure, and penetration of smartphones. Therefore, the mobility as

E-Bike Market Projected to reach $77.2 billion by 2028

The global automotive seat market is projected to reach USD 58.4 billion by 2030 from USD 53.7 billion in 2023, at a CAGR of 1.2%. The automotive seat industry's growth is mainly driven by growing demand for premium vehicles, rising adoption of powered seats in mid-segment cars & SUVs, and increasing demand for aftermarket seating solutions drive the automotive seat market. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=110827400 Asia Pacific is estimated to be

EV Charging Station Market Valued at $76.9 Billion by 2027

The global 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. The increasing demand for alternative fuel vehicles has fueled the growth of electric vehicles. Governments worldwide have adopted favorable policies promoting EV use to reduce crude oil consumption, automotive emissions, and air pollution. The increasing demand for electric vehicles

In-Vehicle Infotainment: Unleashing a $31.4 Billion Market by 2028

The in-vehicle infotainment market is projected to grow from USD 18.8 billion in 2023 to USD 31.4 billion by 2028, at a CAGR of 10.9%. Government mandates on telematics and e-call services, the emergence of various technologies such as 5G and AI, and ADAS and other autonomous solutions are expected to offer promising growth opportunities in the In-vehicle infotainment market. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=538 Based on Region, Asia Pacific

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 increasing stringency in regulations and safety standards for vehicles, technological advancements & innovation in the seating segment, and increasing focus on electric vehicles and others are driving the passenger car seat market. Asia Pacific and the Americas will remain

Automotive Cybersecurity Market Poised 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 demand for automotive cybersecurity solutions is fueled by the increased use of electronics per vehicle, a growing number of connected cars, reinforcement of mandates by regulatory bodies for vehicle data protection, a significantly growing global automotive V2X market, and the rising sales

Electric Vehicle Market Size, Share, Growth, Forecast 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 manufacturers to provide electric vehicles around the world. The rapidly growing sales volume of EVs in Asia Pacific, Europe, and North America

Recreational Boat Market Set to Sail to $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 The growth

Electric Scooter and Motorcycle Market Poised 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 electric two-wheelers during

EV Battery Market Projected to reach $134.6 billion by 2027

The global electric vehicle battery market size was valued at $56.4 billion in 2022 and is projected 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 new plug-in EV models. Downoad PDF Brochrue @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=100188347 The

Autonomous Vehicle Market Expected to Reach 62.4 Million Units by 2030

Autonomous / Self-driving Cars Market was valued at USD 20.3 Million in 2021, and it is expected to reach USD 62.4 Million by 2030, at a CAGR of 13.3% during the forecast period 2021-2030. Safety features are an important prerequisite for automotive customers across the world. Governments across the world have mandated the incorporation of features such as lane departure warning (LDW) and automatic emergency braking (AEB) paving way for

Automotive HMI Market Poised to reach $40.2 billion by 2028

The automotive HMI market is projected to grow from USD 23.9 billion in 2023 to USD 40.2 billion by 2028, at a CAGR of 11.0%. An increase in awareness for driver safety, growing demand for easy accessibility solutions to multiple functions in vehicles, rise in demand for enhanced driving experience and increase in demand for technologies integrating with autonomous vehicles are some factors influencing the growth of the automotive HMI

Automotive Turbocharger Market Poised 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

Global Machine Tools Market Projected to Surpass $98.3 Billion by 2027

The machine tools market is estimated to be USD 77.0 billion in 2019 and is projected to reach USD 98.3 billion by 2027, at a CAGR of 3.2%. The overall machine tools market is highly governed by the continually rising industrial manufacturing and processing sector worldwide. Asia Pacific is estimated to remain a frontrunner in the market during the forecast period. Several technological advancements have been introduced by the machine

OTR Tires Market Projected to reach $11.4 billion by 2027

The global OTR Tires market was valued at USD 8.7 billion in 2022 and is expected to reach USD 11.4 billion by 2027 at a CAGR of 5.5 % during the forecast period 2022-2027. Activities in the construction and mining industry have picked up pace post-pandemic, which has caused an increase in demand for equipment used in these sectors. As the demand for this equipment rises, so does the demand

Advanced Tires Market Poised to Reach $3.2 Billion by 2030

The advanced tires market size is estimated to grow from USD 1.3 billion in 2023 to reach USD 3.2 billion by 2030 at a CAGR of 14.4% over the forecast period. The growth of the advanced tires market is influenced by factors such as increasing government regulations related to tire emissions and brakes, growing consumer preference for advanced safety and convenience features, rising sales of electric vehicles equipped with advanced tires,

Forklift Market Surge to reach $84.5 billion by 2027

The global forklift market was valued at USD 58.9 billion in 2022 and is expected to reach USD 84.5 billion by 2027, at a CAGR of 7.5 % during the forecast period 2022-2027. 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

Electric Bus Market Projected 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

Automotive Glass Market Estimated to Reach $30.6 Billion by 2027

The automotive glass market is projected to grow at a CAGR of 5.4%, from an estimated USD 23.6 billion in 2022 to USD 30.6 billion by 2027. Increasing global vehicle production, growing demand for cabin comfort, and government safety regulations for enhanced vehicle safety are expected to drive the automotive glass market. Growing sales of premium and luxury cars are projected to drive the demand for advanced glass technologies in

Wireless Charging Market for Electric Vehicles Expected to Reach $377 Million by …

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 electric vehicles around the world, along with the increasing inclination towards autonomous driving technology by automotive OEMs will boost the demand for the wireless charging market for electric vehicles. Increasing investments for smart roads in

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

The low speed vehicle market is projected to grow from USD 10.4 billion in 2023 to USD 15.0 billion by 2028, at a CAGR of 7.4%. 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 and hence find applications in

EV Charging Station Market, Estimated 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

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

Recreational Boat Market worth $23.6 Billion by 2027

The global recreational boat market size is projected to grow from USD 16.4 Billion in 2021 to USD 23.6 Billion by 2027, at a CAGR of 6.2%. The growth of the market is influenced by factors such as increasing disposable income levels of people and the growing tourism market. Developments in autonomous marine technology as well as other related technologies including new materials developed for boats, IOT based navigation, etc.

Electric Bus Market Expected to Reach 671,285 Units by 2027

The global electric bus market size is projected to grow from 112,041 units in 2022 to reach 671,285 units by 2027, at a CAGR of 43.1%. The growth of the electric bus market can be attributed to the increasing focus of countries on electrification of their public transport fleets with subsidies and favorable regulations due to emission concerns. Advancements in battery pack technologies, declining battery prices, government support, huge subsidies

Automotive Motors Market Projected to Reach $28.7 billion by 2027

The global automotive motors market in terms of revenue was estimated to be worth $23.0 billion in 2022 and is expected to reach $28.7 billion by 2027, growing at a CAGR of 4.5% from 2022 to 2027. Factors such as rising demand for low emission ICE vehicles, increasing consumer spending on safety and comfort features in automobiles and the growing trend of electrificantion of automobiles along with the growing demand

Terminal Tractor Market worth $1,042 million by 2027

The global terminal tractor market is projected to grow from USD 802 million in 2022 to USD 1,042 million by 2027, at a CAGR of 5.4% during the forecast period. The Warehouse & Logistics segment is expected to be the largest segment during the forecast period Warehouse & logistics involve the storage and management of the flow of goods from point of origin to the point of consumption to meet the requirements

Mobility as a Service Market Estimated to reach $40.1 billion by 2030

The mobility as a service market was valued at USD 3.3 Billion in 2021, and it is expected to reach USD 40.1 Billion by 2030, registering a CAGR of about 32.2% in terms of revenue during the forecast period (2022-2030). The growth of this mobility as a service market is influenced by factors such as increasing smart city initiatives, growing adoption of on-demand mobility services, the need to reduce CO2 emissions,

Electric Bus Market worth 671,285 units by 2027

The global electric bus market size is projected to grow from 112,041 units in 2022 to reach 671,285 units by 2027, at a CAGR of 43.1%. The growth of the electric bus market can be attributed to the increasing focus of countries on electrification of their public transport fleets with subsidies and favorable regulations due to emission concerns. Advancements in battery pack technologies, declining battery prices, government support, huge subsidies

Forklift Market Poised for Robust Growth, Valued at $84.5 Billion by 2027

The global forklift market was valued at $58.9 billion in 2022 and is expected to reach $84.5 billion by 2027, at a CAGR of 7.5 % during the forecast period 2022-2027. 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

Thermal Systems Market Set to Skyrocket: Projected Worth of $41.7 Billion by 202 …

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

Automotive Software Market Poised to Reach $40.1 Billion by 2027

The automotive software market is expected to grow from USD 21.7 billion in 2022 to reach USD 40.1 billion by 2027, at a CAGR of 13.1 % during the forecast period 2022-2027. Compliance towards fuel efficiency standards, comfort, and convenience, and need for reducing vehicle downtime will drive the automotive software market. The ADAS & safety system segment is expected to be the largest application of the automotive software market Increasing adoption

Electric Vehicle Market Forecasted to Hit 39,208 Thousand Units by 2030

The electric vehicle market size is projected to grow from 8,151 thousand units in 2022 to reach 39,208 thousand units by 2030, at a CAGR of 21.7%. Factors such as growing demand zero emissions commuting and governments supporting low emission vehicles through subsidies & tax rebates have led to automakers adopting to EV's and growth of Electric Vehicle market. Growing concerns over increased pollution by the automotive industry is the prime

Railway System Market Set to Reach $30.9 Billion by 2027

The global railway system market size is projected to grow from USD 25.1 billion in 2022 to reach USD 30.9 billion by 2027, at a CAGR of 4.2%. As rail transit offers the benefit of cost-effectiveness and efficient transportation of passengers as well as freight, the demand for rolling stock is increasing globally. The production of the advanced railway system is set to rise in countries such as India, Brazil, Russia,

Automotive Camera Market Expected 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

ADAS Market expected to exceed $65.1 billion by 2030

The global ADAS Market was valued at USD 30.9 billion in 2022 and is expected to reach USD 65.1 billion by 2030 at a CAGR of 9.7 % during the forecast period 2022-2030. Software and hardware providers provide ADAS systems such as adaptive cruise control, adaptive front lights, automatic emergency braking, blind spot detection, cross traffic alert, among others to various global OEMs and component manufactures. Factors such as increased

Farm Equipment Market Projected to Reach $141.6 Billion by 2027

The global farm equipment market is projected to grow from USD 111.8 billion in 2022 to USD 141.6 billion by 2027, at a CAGR of 4.8% during the forecast period. An increase in farm mechanization, government support with farm loan waivers/credit finance, contract farming, and a shortage of skilled labor are the key factors driving farm equipment growth globally. The demand for electric & autonomous tractors and the rising demand for

Drive By Wire Market Expected to Reach $27.9 Billion by 2027

The drive by wire market size reached USD 20.6 billion in 2022 and is expected to reach USD 7.9 billion by 2027, at a CAGR of 6.2 % during the forecast period 2022-2027. The drive by wire market growth is seen mainly due to the developments in autonomous vehicles and increasing demand for luxury vehicles. Stringent emission and safety standards are also boosting the demand for drive-by-wire systems globally. Download PDF Brochure

EV Charging Cables Market to Surpass $2,453 Million by 2027

The global EV charging cables market is projected to grow at a CAGR of 29.8%, to reach USD 2,453 million by 2027 from an estimated USD 665 million in 2022. Factors such as increasing electric vehicle sales, rapid development of EV charging infrastructure, government policies and subsidies, and increasing price of fossil fuels would drive the growth of the market. Private charging segment to hold the larger share during the forecast

E-Bike Market Expected 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

V2X Cybersecurity Market to Reach $3.2 Billion by 2028

published by MarketsandMarkets, the global V2X cybersecurity market is projected to grow from USD 1.2 billion in 2022 to USD 3.2 billion by 2028, at a CAGR of 18.1%. Factors such as developments in connected car technology, paired with increasing growth of automotive V2X market are expected to augment revenues for the V2X cybersecurity market. Rising sales of electric vehicles, in conjunction with development in autonomous vehicles will create favorable opportunities

EV Battery Market 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 Asia pacific is expected to be the largest EV

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