Press Releases from MarketsandMarkets™ INC. (915 total)
Electric Vehicle Market worth 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.
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Growing concerns over increased pollution by the automotive…
Telematics Market Projected to Reach $15.5 Billion by 2027
The automotive telematics market is estimated to grow from USD 8.8 billion in 2022 to USD 15.5 billion by 2027at a CAGR of 12.1% during the forecast period.
The automotive telematics market is expected to grow due to growing trend of intra-vehicle connectivity solutions and implementation of government mandates and initiatives. The market growth is also boosted by the growing cellular internet penetration, making it convenient for vehicles owbers and new…
V2X Market Expected 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.
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Forklift Market Set to Reach $84.5 Billion by 2027
The forklift market size 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 market is expected to witness growth due to major factors such as rising demand for sustainable intralogistics, rapid growth in the e-commerce and warehousing sector, and increasing demand for lean & automated warehouses to increase operational efficiency. In addition, the increase…
Electric Scooter and Motorcycle Market 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.
Due to a number of factors, such as expanding charging infrastructure, cutting-edge battery technologies, rising demand for efficient commuting options, and improved design and performance requirements, the market for electric scooters and motorcycles has…
EV Charging Station Market Expected to Reach $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…
Drive By Wire Market to Reach $27.9 Billion by 2027: Analysis of Key Trends, Dri …
The drive-by-wire market is estimated to grow from USD 20.6 billion in 2022 to reach USD 27.9 billion by 2027 at a CAGR of 6.2% during the forecast period.
The drive-by-wire market is mainly propelled by the growing demand for fuel-efficient and safe vehicles. Growing demand for premium vehicles, particularly in developing countries, further drives the drive-by-wire market. Several developments in drive-by-wire hardware and software, such as control units and…
Automotive Transmission Market Expected to Surpass $80.8 Billion by 2027
The global automotive transmission market in terms of revenue was estimated to be worth USD 59.9 billion in 2022 and is poised to reach USD 80.0 billion by 2027, growing at a CAGR of 6.2% from 2022 to 2027.
CVT, by Number of forward gears, is estimated to be the fastest-growing automotive transmission market during the forecast period.
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The CVT is an automatic transmission that consists of two…
Fluid Transfer System Market to Reach $25.0 Billion by 2027
The fluid transfer system market is estimated to grow from USD 19.1 billion in 2022 to USD 25.0 billion by 2027, at a CAGR of 5.6% over 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 updated engine technologies and engine downsizing, stringent emission norms to mandate the…
Catalytic Converter Market worth $73.1 billion by 2025
The global catalytic converter market in terms of revenue was estimated to be worth USD 42.4 billion in 2018 and is poised to reach USD 73.1 billion by 2025, growing at a CAGR of 8.10% from 2018 to 2025. The Asia Oceania region is projected to lead the catalytic converter market during the forecast period owing to the highest vehicle production compared to other regions such as North America and…
Mobility as a Service Market to Exceed $40 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 the mobility as a service market is influenced by factors such as increasing smart city initiatives, growing adoption of on-demand mobility services, need to reduce CO2 emissions, improved…
Smart Electric Drive Market Continues to Expand: Valued at $4,245 Million by 202 …
The global smart electric drive market size is projected to grow from USD 915 Million in 2021 to USD 4,245 Million by 2026, at a CAGR of 35.9%. Factors such as shift towards vehicle electrification, adoption of advanced technologies in electric vehicles, government policies supporting electric vehicle adoption and reducing cost of EV batteries will boost the demand for smart electric drive market. The growing concern for larger distance…
Automotive Software Market Set to Reach $40.1 Billion by 2027
The global Automotive Software Market size is projected to reach USD 40.1 billion by 2027 from USD 21.7 billion in 2022, at a CAGR of 13.1%. The growth of the market is driven upcoming mandates such as for regarding collision avoidance to drive market.
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Governments in European countries as well as in the United States have mandated the use of AEB in vehicles. In…
Railway System Market to See Exponential Growth, Expected to Reach $30.9 Billion …
The global railway system market stood at USD 25.1 billion in 2022 and is expected to reach USD 30.9 billion by 2027 and grow at a CAGR of 4.2% over the forecast period (2022 - 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 dwellers. In…
Driving Towards a Connected Future: Connected Car Market Expected to Reach $56.3 …
The connected car market was valued at USD 23.6 Billion in 2021, and it is expected to reach USD 56.3 Billion by 2026, registering a CAGR of about 19.0% in terms of revenue during the forecast period (2021-2026).
Factors such as the rollout of stringent safety regulations, growing sales of high-end luxury cars, development of 5G infrastructure, autonomous vehicles, and growing adoption of integrated connectivity are expected to drive the demand…
The Emergence of Quantum Computing in the Automotive Industry: Market Set to Exc …
The quantum computing in automotive market is estimated to grow from USD 143 million in 2026 to USD 5,203 million by 2035, at a CAGR of 49.0% from 2026 to 2035.
Increasing government investments in developing quantum computing infrastructure and growing strategic collaborations between OEMs, auto component manufacturers & technology providers to carry out the advancements in quantum computing technology focused on complex automotive applications are the key growth factors of…
ADAS Market Set to Surpass $65.1 Billion by 2030: Analysis of Key Trends and Dri …
The global ADAS market is projected to grow from an estimated $30.9 billion in 2022 to $65.1 billion by 2030, registering a CAGR of 9.7% from 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 demand for road safety and…
Cell to Pack Battery Market Projected to reach $29.3 billion by 2030
According to a research report "Cell to Pack Battery Market by Form (Prismatic, Pouch, Cylindrical), Battery Type (LFP, NMC), Propulsion (BEV, PHEV), Technology (Blade, LiSER), Vehicle Type (Passenger Cars, Commercial Vehicles) and Region - Global Forecast to 2030" published by MarketsandMarkets, 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…
Automotive V2X Market to Grow to $19.5 Billion by 2028
The global automotive V2X market in terms of revenue was estimated to be worth $2.6 billion in 2022 and is poised to reach $19.5 billion by 2028, growing at a CAGR of 39.7% from 2022 to 2028.
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…
Train Dispatching Market Projected to Reach $1,391 Million by 2027
The global train dispatching market in terms of revenue was estimated to be worth $942 million in 2022 and is poised to reach $1,391 million by 2027, growing at a CAGR of 8.1% from 2022 to 2027.
This research mapped Dedicated Freight Railroads, Dedicated Passenger Railroads, Mixed Railroads, Regional & Shortlines. Rail network velocity, timely arrivals, efficiency, and safety are critical in today's fast-paced transportation markets. train dispatching help dispatchers with…
Construction Equipment Market worth $223.1 billion by 2027
The construction equipment market size is estimated to grow from USD 180.4 billion in 2022 to reach USD 223.1 billion by 2027, at a CAGR of 4.3% over the forecast period.
The market is expected to witness growth due to an increase in urban infrastructure projects and the adoption of advanced technologies in the construction industry.
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CNG/LNG/RNG construction equipment would be the fastest growing segment over the forecast…
Automotive Engineering Service Market to Reach $243.9 Billion by 2028
The global automotive engineering services market in terms of revenue was estimated to be worth $153.2 billion in 2022 and is poised to reach $243.9 billion by 2028, growing at a CAGR of 8.1% from 2022 to 2028.
The growing demand of zero-emission vehicles, advancements in technologies such as ADAS, battery management, connectivity, among others, and rising commercial transport are expected to increase the demand for automotive engineering services around the…
Car Care Products Market Set to Reach $4.8 Billion by 2027 with Increasing Deman …
Car Care Products Market by Product Type (Cleaning & Washing, Polishing & Waxing, Sealing Glaze & Coating), Application (Interior, Exterior), Consumption, Solvent (Water, Foam-based), Vehicle Type, Distribution Channel & Region - Global Forecast to 2027" published by MarketsandMarkets, the global car care products market is projected to grow at a CAGR of 1.9% during the forecast period, from an estimated USD 4.4 billion in 2022 to USD 4.8 billion by…
Cell to Pack Battery Market worth $29.3 billion by 2030
published by MarketsandMarkets, 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.…
Cell to Pack Battery Market Poised to Surpass $29.3 Billion by 2030
The cell to pack battery market is estimated to grow from USD 5.5 billion in 2023 to USD 29.3 billion by 2030, at a CAGR of 26.9%. The rise in demand for low-cost, lightweight, and high-energy-density batteries in electric vehicles has positively influenced the development of the cell to pack battery market. Also, the government initiatives for increasing the electrification of buses in public transport have created the opportunity for…
Automotive Lighting Market worth $28.5 million in 2027
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.
Growing demand for premium and luxury cars and SUVs and technological developments in adaptive lighting technology are some of the major factors driving the growth of the automotive lighting industry.
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The…
Smart Mobility: Automotive V2X Market Gears Up for Explosive Growth, Predicted t …
The global automotive V2X market in terms of revenue was estimated to be worth $2.6 billion in 2022 and is poised to reach $19.5 billion by 2028, growing at a CAGR of 39.7% from 2022 to 2028.
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…
Electric Van Market worth 1,082.9 thousand units by 2030
According to a research report "Electric Van Market by Range (up to 100 miles, 100-200 miles, & above 200 miles), Battery Capacity (up to 50 kWh & above 50 kWh), Battery Type, Propulsion (BEV, FCEV, & PHEV), End Use and Region - Global Forecast to 2030" published by MarketsandMarkets, the electric van market is projected to register a CAGR of 33.6% from 2022 to 2030, reaching 1,082.9 thousand units by…
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…
Battery Swapping Market Surges to $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 worth 39,208 thousand units by 2030
The report "Electric Vehicle Market by Component, Vehicle Type, Vehicle Class, Propulsion (BEV, PHEV, FCEV), Vehicle Drive Type (FWD, RWD, AWD), Vehicle Top Speed (125 mph), Charging Point Type, Vehicle Connectivity, End Use, Region-Global Forecast 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…
Automotive Differential Market worth $23.7 billion by 2027
Automotive Differential Market by Type (Open, Locking, Limited Slip, Electronic Limited Slip, Torque-Vectoring), Drive Type (FWD, RWD, 4WD/AWD), OE Component, On- & Off-Highway Vehicle, Electric Vehicle, Aftermarket & Region - Global Forecast to 2027
published by MarketsandMarkets, the global automotive differential market is projected to grow at a CAGR of 3.5% during the forecast period, from an estimated market size of USD 20.0 billion in 2022 to USD 23.7 billion by…
EV Battery Market set to Surpass $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.
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Asia pacific is expected to be the largest EV…
Brake System Market worth $28.1 billion by 2027
The global Brake System Market is projected to grow from USD 22.2 billion in 2022 to USD 28.1 billion by 2027, at a CAGR of 4.8%.
Factors such as rollout of stringent safety regulations, adoption of high-end and luxury cars, and growing adoption of air disc brakes in commercial vehicles are expected to drive the demand for the brake system market.
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Better performance and longer life of Disc…
Forklift Market Booms with $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, and…
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…
Car Care Products Market Size, Share, trends and Forecast 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…
Wireless Charging Market for Electric Vehicles worth $377 million by 2027
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…
E-Bike Market Opportunities & Prominent Trends by 2026
The e-Bike market size is projected to reach USD 80.6 billion by 2027 from an estimated USD 49.7 billion in 2022, at a CAGR of 10.2% from 2022 to 2027. The market is expected to witness growth due to the development of infrastructure for e-Bike cycling paths, adoption of the micro mobility solutions, tax benefits and subsidies given by various governments to promote and create awareness about the usage of…
Mobility as a Service Market Opportunities & Prominent Trends 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…
Mobility as a Service Market Estimated to reach $40.1 billion by 2030
The global mobility as a service market, by value, is projected to grow from USD 3.3 billion in 2021 to USD 40.1 billion by 2030, at a CAGR of 32.2% during the forecast period. The growth of this market is influenced by factors such as increasing smart city initiatives, growing adoption of on-demand mobility services, the need to reduce CO2 emissions, improved 4G/5G infrastructure, and the penetration of smartphones. Therefore,…
Stacker Crane Market Outlook 2022: Drivers, Opportunites and Key Players by 2027
The stacker crane market size is projected to reach USD 1,442 million by 2027 from an estimated USD 976 million in 2021, at a CAGR of 6.7% from 2021 to 2027. The growth of this market is influenced by increasing demand of automated storage and retrieval systems as well as increasing demand fo automated warehouses and automated material handling equipments.. Therefore, the stacker crane market is expected to witness significant…
Automotive LiDAR Market Projected to reach $8,611 million by 2030
The global automotive LiDAR market was valued at USD 555 million in 2022 and expected to reach USD 8,611 million by 2030 and grow at a CAGR of 40.9% over the forecast period (2022 - 2030). Factors such as increasing sales of high-end vehicles, along with the increase in the penetration of ADAS technology in vehicles will boost the demand for the automotive LiDAR sensors. Increase in developments related to…
All-terrain Vehicle Market Projected to reach $5.0 billion by 2027
The all-terrain vehicle market is estimated to grow from USD 4.3 billion in 2022 to USD 5.0 billion by 2027 at a CAGR of 2.7% over the forecast period. The demand for ATVs in agriculture and military & defense industries is expected to be the fastest. In contrast, the sports ATVs are expected to lead the market over the forecast period. Considering the increase in demand for ATVs in agriculture…
Drive By Wire Market Projected to reach $27.9 billion by 2027
The automotive drive-by-wire market is estimated to grow from USD 20.6 billion in 2022 to reach USD 27.9 billion by 2027 at a CAGR of 6.2% during the forecast period. The 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.
The automotive drive-by-wire market is estimated to grow…
Electric Scooter and Motorcycle Market worth 6,193 thousand units by 2027
The global electric scooter market and electric motorcycle market is expected to account for 6,193 thousand units by 2027, growing at a CAGR of 33.1% during the forecast period. Factors such as favorable government policies, growing demand for energy-efficient commuting, rising concern for emission free vehicles, rising fuel prices have compelled two-wheeler OEMs to explore beyond the use of conventional internal combustion engines (ICE) in two-wheelers.
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The…
E-Bike Market Estimated to reach $80.6 billion by 2027
The e-bike market size is estimated to grow from USD 49.7 billion in 2022 to USD 80.6 billion by 2027 at a CAGR of 10.2% over the forecast period. The market would witness growth due to some driving factors, such as safe, convenient, and affordable alternatives to public transportation, rapid urbanization, and growing infrastructure development activities in different countries. The market for e-bikes has grown significantly during Covid-19 as they…
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. The farm mechanization has shown a significant growth in the recent past and top OEMs are too investing in the same, which would further drive the demand for agriculture equipment. Though the demand for farm equipment is growing in Europe,…
EV Cables Market Projected to reach $13.1 billion by 2026
The global EV Cables Market is projected to grow at a CAGR of 26.9% during the forecast period, to reach USD 13.1 billion by 2026 from an estimated USD 3.9 billion in 2021. EV cables perform different functions in electric vehicles as they aid in signal transmission and powering up of different electronic and electrical devices. They are also used to set up electrical circuits in electric vehicles, and are…
Automotive Heat Exchanger Market Projected to reach $34.3 billion by 2027
The global Automotive Heat Exchanger Market is projected to grow from USD 28.9 billion in 2022 to USD 34.3 billion by 2027, at a CAGR of 3.5%. Factors such as revival of automotive industry, along with the increase in demand for hybrid and plug-in hybrid vehicles will boost the demand for the automotive heat exchangers. Increase in demand for battery thermal management systems, in conjunction with advancements in mobility solutions…
