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Press Releases from MarketsandMarkets™ INC. (890 total)

Future of Hydrogen in Automotive Size, Share, Trends & Global Forecast by 2035

The future of hydrogen in automotive is expected to grow from 20 Thousand Units in 2022 to 1,280 Thousand Units by 2035, growing at a CAGR of 37.6%. While battery-electric vehicles (BEVs) have gained rapid traction in recent years, hydrogen offers several advantages. Hydrogen fuel cell vehicles (FCEVs) are particularly suited for large-sized vehicles, such as trucks and buses, where battery capacity limitations inhibit performance. Additionally, development in hydrogen infrastructure

Farm Equipment Market Poised 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

Automotive Fuel Cell Market Set to Reach $2.1 billion by 2030

The global automotive fuel cell market is projected to grow from USD 0.2 billion in 2024 to USD 2.1 billion by 2030, at a CAGR of 48.0%. Factors such as advancements in better fuel efficiency and increased driving range, rapid increase in investment and development for green hydrogen production, fast refueling, reduced oil dependency, and lower emissions compared to other vehicles are anticipated to contribute significantly to the revenue

Future of CV Depot Charging Market Set to Reach $30.7 Billion in 2030

published by MarketsandMarkets, the CV depot charging market size for chargers of new vehicles was USD 4.7 billion in 2023 and is projected to reach USD 30.7 billion in 2030, witnessing a CAGR of 28.2% from 2024 to 2030. The report also includes the analysis of number of chargers for new vehicles in depot setting, number of chargers for ECV parc in depot setting, cost of chargers (including installation cost)

Passenger Car Seat Market Set 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 Software Market Set 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 Brake System Market Set to Reach $30.1 Billion by 2028

The automotive brake system market is projected to grow from an estimated USD 23.5 billion in 2023 to USD 30.1 billion by 2028 at a CAGR of 5.1% during the forecast. The automotive brake system market growth is mainly driven by the regulations on stopping distance and safety standards in countries such as China, India, Brazil, the European Union, the US, and Canada, among others. Further, growing demand for luxury

Electric Mid- and Large (9-14m) Bus Market worth 171,000 units by 2030

The global electric mid- & large bus market size is projected to grow from 66,593 units in 2023 and is expected to cross 171,000 units by 2030, at a CAGR of 14.4%. Growing urbanization, population density, and government policies will influence the electric mid- & large bus market growth in the coming years. Reasons such as government incentives, policies promoting zero-emission public transit, advances in battery technology, and reducing costs

Gasoline Direct Injection Market Size, Share, Trends & Global Forecast 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. Growing stringency in emission limits with decreased emission limits is expected to drive the gasoline direct injection market. In addition, technological advancements such as turbo GDI system, GDI system for hybrid electric vehicles (HEV) & plug-in hybrid electric vehicles (PHEV)

Automotive V2X Market Size, Share, Trends & Forecast by 2030

The global automotive V2X market is projected to grow from USD 0.5 billion in 2023 to USD 9.5 billion by 2030, at a CAGR of 51.9%. Factors such as advancements in connected car technology, coupled with a heightened emphasis on traffic safety, supportive government initiatives, and regulatory frameworks, are anticipated to contribute significantly to the revenue growth of the automotive Vehicle-to-Everything (V2X) market. C-V2X (Cellular Vehicle-to-Everything) leverages 5G technology to

Automotive Turbocharger Market Size, Share, Trends & Global Forecast by 2028

The Automotive Turbocharger market is estimated to grow from USD 15.0 billion in 2023 to USD 22.2 billion by 2028 at a CAGR of 8.1% over the forecast period. The growth in the automotive turbocharger market is attributed to the growing fuel-efficiency targets & decreasing emission limits, and the trend toward high-performance vehicles. Due to the growing vehicle parc of turbocharged vehicles, the demand for turbochargers in the aftermarket is also

Automotive Camera Market Size, Share, Trends & Forecast 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%. Automotive Camera has been widely used for proper functioning of ADAS Applications such as Lane Departure Warning Systems (LDWS), Forward Collision Warning System (FCWS), Blind Spot Warning (BSW), Driver Monitoring system (DMS), Intelligent Park Assist, Night vision system, Traffic sign recognition. With the increase in

EV Battery Market Size, Share, Trends & Forecast by 2030

The global EV battery market is projected to grow from USD 132.6 billion in 2023 to USD 508.8 billion by 2033, registering a CAGR of 14.4%. Recent advancements in the EV market have resulted in the introduction of batteries with higher standards. While these batteries are expected to improve EV performance and range, factors such as the limited range of EVs, the significant charging time required, the high price of

E-Bike Market Size, Share, Trends & Global Forecast by 2030

The global E-Bike market is projected to grow from USD 49.1 billion in 2023 to USD 62.3 billion by 2028 at a CAGR of 4.9%. The worldwide demand for e-bikes is growing rapidly as customers see e-bikes as an eco-friendly solution for commutes, with rising fuel prices adding to support the inclination. Government bodies in various cities worldwide have undertaken initiatives to build bicycle highway lanes for e-bikes. Growing demand

Advanced Driver Assistance Systems (ADAS) Market Size, Share, Trends, Global For …

The ADAS market is projected to grow from USD 30.9 billion in 2022 to USD 65.1 billion by 2030, registering a CAGR of 9.7%. The demand for Advanced Driver Assistance Systems (ADAS) is increasing quickly due to the rise in traffic accidents on a global scale. To make driving safer and cut down on accidents, automakers are heavily investing in the development of these technologies. Customers are increasingly choosing vehicles with

EV Charging Cable Market Size, Share, Forecast, Report 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

OTR Tires Market Size, Share, Trends & Global Forecast by 2027

The OTR Tires market is projected to grow from USD 8.7 billion in 2022 to USD 11.4 billion by 2027, at a CAGR of 5.5% over the forecast period. In European countries, owing to the war in Ukraine, there is growth in infrastructure and farming activities. Additionally, the Ukrainian people are shifting to other countries, creating housing needs. Such factors are responsible for growth in infrastructural and farming activities across

Electric Vehicle Market Size, Share, Trends & Global Forecast 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%. The electric vehicle (EV) market is experiencing a remarkable surge in growth, revolutionizing the global automotive industry. With an increasing focus on sustainability and reducing greenhouse gas emissions, governments and consumers alike are embracing the transition to electric mobility. Advancements in battery technology, charging infrastructure,

Automotive Camera Market Size, Share, Trends & Global Forecast 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%. Automotive Camera has been widely used for proper functioning of ADAS Applications such as Lane Departure Warning Systems (LDWS), Forward Collision Warning System (FCWS), Blind Spot Warning (BSW), Driver Monitoring system (DMS), Intelligent Park Assist, Night vision system, Traffic sign recognition. With the increase in

Revving Up for 2024: Total Automotive Sales to Cross 96 million units in 2024, p …

According to a research report, "Global Automotive Industry Outlook 2024 " published by MarketsandMarkets, the global automotive sales is estimated to grow from over 91 million units in 2023 to cross 96 million units by 2024 at a steady Y-o-Y growth rate of 5-7% backed by strong recovery in commercial vehicles and electrification trend in passenger cars. The new research report discusses range of ongoing trends ranging from China's EV

Automotive Paints Market Set to Reach $9.9 billion by 2028

The automotive paints market is projected to grow from USD 8.4 billion in 2023 to USD 9.9 billion by 2028, at a CAGR of 3.2%. The key factors driving the automotive paints is increase in production of passenger cars, EVS and increase in sales of SUVs is driving. Also, there is increase in adoption for powder coating and water-borne coating technologies in automotive sector to reduce the environmental impact. Hence

Construction Equipment Market Set 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

Advanced Tires Market Estimated to Reach $3.2 Billion by 2030

According to a research report "Advanced Tires Market by Type (Pneumatic, Run-Flat, Airless), Technology (Self-Inflating, Chip-Embedded, Multi-chamber, All-in-one, Self-Sealing), Vehicle (ICE, Electric, Hybrid, Off-highway), Niche Technology, Material & Region - Global Forecast to 2030" published by MarketsandMarkets, 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. Inquiry Before Buying

Battery Swapping Market Set 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

Automotive Turbocharger Market worth $22.2 billion by 2028

The Automotive Turbocharger market is estimated to grow from USD 15.0 billion in 2023 to USD 22.2 billion by 2028 at a CAGR of 8.1% over the forecast period. The growth in the automotive turbocharger market is attributed to the growing fuel-efficiency targets & decreasing emission limits, and the trend toward high-performance vehicles. Due to the growing vehicle parc of turbocharged vehicles, the demand for turbochargers in the aftermarket is also

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

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