Press Releases from MarketsandMarkets™ INC. (935 total)
Electric Vehicle Market Size, Share, Trends & Analysis 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 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…
Automotive Radar Market Valued at $33.6 billion by 2030
The global automotive radar market is projected to grow from USD 6.6 billion in 2024 to USD 33.6 billion by 2030, registering a CAGR of 31.1%.
The automotive radar market is flourishing due to a confluence of factors. The primary driver is the surging demand for Advanced Driver-Assistance Systems (ADAS) and autonomous vehicles. These technologies heavily rely on radar for object detection and measurement, making it an essential component. Furthermore, stricter…
Connected Car Market Poised to Reach $26.4 billion by 2030
The globally connected car market is estimated to grow from USD 12.4 billion in 2024 to USD 26.4 billion by 2030, at a CAGR of 13.3%.
Government initiatives towards developing intelligent transportation networks and the growing trend of in-vehicle connectivity solutions are two factors influencing the growth of the worldwide connected car market. Also, the consumer demand for a safer, more convenient, and entertaining driving experience is a significant driver. This…
Semi-Autonomous & Autonomous Trucks and Buses Market worth $179.9 billion by 203 …
The Semi-autonomous & autonomous Trucks and Buses market size is projected to grow from USD 40.7 Billion in 2024 to USD 179.9 Billion by 2035, at a CAGR of 14.4%. The increasing demand for electric and autonomous vehicle and government regulation regarding safety is expected to increase the demand for Semi-autonomous & autonomous Trucks and Buses. Additionally, continuos innovation in advance driving technologies and components will boost the demand…
Automotive Turbocharger Market Set to Reach $22.9 billion by 2030
The automotive turbocharger market is projected to grow from USD 15.2 billion in 2024 to USD 22.9 billion by 2030, at a CAGR of 7.1%. The growth of the automotive turbocharger market is propelled by harsh emission regulations and shifting consumer inclination for high-performance vehicles. As the automotive industry is transitioning from diesel to gasoline light-duty vehicles and a surge in vehicle hybridization, there could be a promising opportunity…
Future of Hydrogen in Automotive Market worth 353 Thousand Units by 2035
The future of hydrogen in automotive market size is projected to grow from 23 thousand units in 2024 to 353 thousand units by 2035, at a CAGR of 28.3%. Factors such as the extended driving range of FCEVs and the increasing interest among consumers indicate hydrogen's potential as an alternative for zero-emission mobility. Additionally, the rising involvement of investors, advancements in technology by OEMs, and governmental initiatives toward zero-emission transportation…
Metaverse Market for Automotive Projected to Reach $16.5 billion by 2030
The global metaverse market for automotive size was valued at $1.9 billion in 2022 and is expected to reach $6.5 billion by 2030 at a CAGR of 31.4% during the forecast period 2022-2030. Automotive OEMs, Hardware and Software providers have shown their keenness towards leveraging metaverse related solutions in their industrial pipeline from designing to showcasing products on the metaverse space. Many automotive manufacturers and dealers are providing immersive…
Automotive V2X Market Size, Share, Industry Analysis by 2030
The global automotive V2X market is expected to grow from USD 0.5 billion in 2023 to USD 9.5 billion by 2030 at a CAGR of 51.9%. Government support toward C-V2X technology and improving road infrastructure is expected to support the automotive V2X market. Furthermore, the increasing adoption of V2X-equipped models such as Volkswagen ID 4, Volkswagen Golf, and Mercedes-Benz E-Class significantly impact the growth of the market. Moreover, Government regulations…
Automotive Software Market Size, Share, Trends & Forecast by 2030
The global automotive software market size was valued at USD 19.0 billion in 2023 and is expected to reach USD 32.3 billion by 2030, at a CAGR of 7.8%, during the forecast period 2023-2030. Rapid integration of ADAS features in vehicles, and increasing adoption of connected car services, paired with rising deployment of ECUs and domain controllers in vehicles are anticipated to increase the demand for automotive software all over…
Electric Vehicle Market Size, Share, Trends & Forecast by 2030
The global electric vehicle market size was valued at USD 388.1 billion in 2023 and is expected to reach USD 951.9 billion by 2030 at a CAGR of 13.7% during the forecast period 2023-2030. 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…
Terminal Tractor Market Size, Share, & Trends by 2027
The terminal tractor market worldwide size was valued at USD 802 million in 2022 and is expected to reach USD 1,042 million by 2027, at a CAGR of 5.4% during the forecast period. A terminal tractor is a type of tractor intended to move semitrailers and containers in cargo yards, warehouse facilities, intermodal facilities, railway yards, airports, and other heavy industries. It has a short wheelbase with space to accommodate…
Construction Equipment Market Size, Share, Industry Forecast to 2030
The global construction equipment market worldwide size is valued at USD 149.7 billion in 2023 and is expected to reach USD 194.7 billion by 2030, at a CAGR of 3.8%. Construction equipment refers to heavy machinery that performs specific construction or demolition functions. This equipment is transportable, semi-permanent, or permanent and is primarily used for earthmoving, lifting containers or materials, drilling holes in the earth or rock, and concrete and…
OTR Tire Market Forecasted to Achieve $7.0 Billion Valuation by 2030
The global OTR Tire market is projected to grow from USD 4.8 billion in 2024 to USD 7.0 billion by 2030 at a CAGR of 6.5%. The growing demand for heavy machinery in construction, mining, and agriculture, coupled with increasing infrastructure projects worldwide, is driving the expansion of the OTR tire market. Additionally, advancements in tire technology, such as enhanced durability and tread designs, fuel market growth by improving efficiency…
Electric Bus Market Poised to Surge to $48.1 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%. As environmental consciousness and the shift toward sustainable transportation gather momentum, the demand for robust and innovative charging solutions has soared. This surge is influenced by the growing awareness of the environmental benefits of EVs and significant investments in charging infrastructure and government…
Automotive Turbocharger Market Expected to Hit $22.9 Billion by 2030
The automotive turbocharger market is projected to grow from USD 15.2 billion in 2024 to USD 22.9 billion by 2030, at a CAGR of 7.1%. The growth of the automotive turbocharger market is propelled by harsh emission regulations and shifting consumer inclination for high-performance vehicles. As the automotive industry is transitioning from diesel to gasoline light-duty vehicles and a surge in vehicle hybridization, there could be a promising opportunity…
EV Charging Cable Market Size, Share, Trends & Forecast by 2030
The global EV charging cable market worldwide size was valued at USD 1.3 billion in 2023 and is expected to reach USD 3.9 billion by 2030, registering a CAGR of 16.7%. With environmental concerns at the forefront of collective consciousness and the increasing popularity of electric vehicles, the demand for cutting-edge charging solutions has never been more pronounced. In this dynamic landscape, various innovative technologies are reshaping the EV Landscape,…
Construction Equipment Market Size, Share, Trends & Forecast by 2030
The global construction equipment market worldwide size is valued at USD 149.7 billion in 2023 and is expected to reach USD 194.7 billion by 2030, at a CAGR of 3.8%. Construction equipment refers to heavy machinery that performs specific construction or demolition functions. This equipment is transportable, semi-permanent, or permanent and is primarily used for earthmoving, lifting containers or materials, drilling holes in the earth or rock, and concrete and…
Future of Batteries Market Growth Drivers & Opportunities by 2035
The global future of batteries market is projected to grow from 16 million units in 2024 to 62 million units by 2035, at a CAGR of 12.7%. The growing consciousness among consumers regarding environmental issues and their preference for eco-friendly modes of transportation is propelling the demand for electric vehicles. Increased driving range, quicker charging times, and longer battery life impact consumer choices. Furthermore, improvements in lithium-ion, solid-state, and other…
EV Battery Market worth $508.8 billion by 2033
According to a research report "EV Battery Market by Battery Type (Lead-acid, Li-ion, Na-ion, NiMH, SSB), Propulsion (BEV, PHEV, ECEV, HEV), Battery Form, Vehicle Type, Material Type, Battery Capacity, Method, Li-ion Battery Component and Region - Global Forecast to 2033" published by MarketsandMarkets, 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%.
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Electric Vehicle Market Size, Share, Trends & Analysis by 2030
The global electric vehicle market size was valued at USD 388.1 billion in 2023 and is expected to reach USD 951.9 billion by 2030 at a CAGR of 13.7% during the forecast period 2023-2030. 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…
Automotive Camera Market Size, Share, Trends & Forecast Report, 2028
The automotive camera market worldwide size was valued at USD 8.0 billion in 2023 and is expected to reach 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…
Automotive Software Market Size, Share, Forecast, Report, 2030
According to a research report "Automotive Software Market by ICE Application (ADAS, Autonomous Driving, Infotainment, Body Control & Comfort, Telematics), Software Layer (OS, Middleware, Application), Vehicle Type (PCs, LCVs, HCVs), EV Application & Region - Global Forecast to 2030" published by MarketsandMarkets, 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…
Future of Hydrogen in Automotive Market worth 353 Thousand Units by 2035
According to a research report "Future of Hydrogen in Automotive Market by Vehicle Type (Passenger Car, Light Commercial Vehicle, Bus, and Truck), Propulsion Type (FCEV, FCHEV, and H2-ICEV), H2 Refueling Points (Asia Pacific, Europe, and North America) and Region - Global Forecast 2035" published by MarketsandMarkets, the Future of hydrogen in automotive market size is projected to grow from an estimated 23 thousand units in 2024 to 353 thousand units…
EV Charging Station Market Size, Share, Trends & Analysis by 2030
According to a research report "EV Charging Station Market by Application, Level of Charging, Charging Point, Charging Infrastructure, Operation, DC Fast Charging, Charge Point Operator, Connection Phase, Service, Installation and Region - Global Forecast to 2030" published by MarketsandMarkets, the global EV Charging Station Market is projected to grow from USD 7.3 billion in 2024 to USD 12.1 billion by 2030, at a CAGR of 8.8%.
Factors such as rising EV…
Air Brake System Market Size, Share, Trends & Forecast Report, 2030
The global air brake system market size was valued at USD 3.1 billion in 2023 and is expected to reach USD 3.4 billion by 2028, at a CAGR of 2.2% during the forecast period 2023-2028. The air brake system market is expected to grow due to several factors. These include the rising demand for heavy commercial vehicles, the expansion of railways, increased long-haul transportation, and upcoming safety-related regulatory requirements.…
Air Brake System Market Size, Share, Trends & Forecast by 2028
According to a research report "Air Brake System Market by Type (Disc & Drum), Component (Compressor, Governor, Tank, Air Dryer, Foot Valve, Brake Chamber, & Slack Adjuster), Rolling Stock, Vehicle Type (Rigid Body, Heavy-Duty, Semi-Trailer, & Bus), Region - Global Forecast to 2028" published by MarketsandMarkets, the global air brake system market is projected to grow from USD 3.1 billion in 2023 to USD 3.4 billion by 2028 at a…
ADAS Market worth 655 million Units by 2030
According to a research report "ADAS Market by Offering (Hardware (Camera, Radar, LiDAR, Ultrasonic, ECU), Software (Middleware, Application Software & OS)), System Type, Vehicle Type (PC, LCV, HCV), Level of Autonomy, Vehicle Class, EV type and Region - Global Forecast to 2030" published by MarketsandMarkets, the global ADAS market size is projected to grow from 334 Million Units in 2024 to 655 Million Units by 2030, at a CAGR of…
E-Bike Market Poised to Reach $62.3 billion by 2028
Published by MarketsandMarkets, 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 e-bike industry has declined in 2023 in some regions due to economic uncertainty, supply chain disruptions, and price competition due to intense competition. However, these are temporary challenges, and the market would remain positive in the long-term outlook. Though the e-bike…
Automotive Software Market Poised for $32.3 Billion Growth by 2030
According to a research report "Automotive Software Market by ICE Application (ADAS, Autonomous Driving, Infotainment, Body Control & Comfort, Telematics), Software Layer (OS, Middleware, Application), Vehicle Type (PCs, LCVs, HCVs), EV Application & Region - Global Forecast to 2030" published by MarketsandMarkets, 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…
Connected Car Poised to Reach $20.5 billion by 2026
According to a research report "Connected Car Market by Service ICE & EV (OTA, Navigation, Cybersecurity, Multimedia Streaming, Social Media, e-Call, Autopilot, Home Integration), Form, Market (OE, Aftermarket), Network, Transponder, Hardware and Region - Global Forecast to 2026" published by MarketsandMarkets, the global connected car market size is projected to reach USD USD 20.5 billion by 2026, from an estimated USD 9.8 billion in 2021, at a CAGR of 15.9%,…
EV Charging Station Market Size, Share, Trends & Forecast 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 Scooter and Motorcycle Market Size, Share, Trends & Forecast by 2028
According to a research report "Electric Scooter and Motorcycle Market by Vehicle (E-Scooters/Mopeds & E-Motorcycles), Battery (Lead Acid & Li-Ion), Distance, Voltage (36V, 48V, 60V, 72V, Above 72V), Technology Usage(Private, Commercial), Vehicle Class & Region - Global Forecast to 2028" published by MarketsandMarkets, 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…
Electric Vehicle Market Size, Share, Trends & Forecast by 2030
The global electric vehicle market size was valued at USD 388.1 billion in 2023 and is expected to reach USD 951.9 billion by 2030 at a CAGR of 13.7% during the forecast period 2023-2030. 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…
EV Battery Market Drivers and Opportunities by 2033
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%. Increased awareness about environmental concerns and the desire for sustainable transportation options are driving consumer interest in electric vehicles. Longer battery life, faster charging times, and increased driving ranges are influencing consumer decisions. Additionally, Innovations in battery technology, such as advancements in lithium-ion batteries,…
Automotive V2X Market Size, Share, Trends & Forecast Report, 2030
The global automotive V2X market is expected to grow from USD 0.5 billion in 2023 to USD 9.5 billion by 2030 at a CAGR of 51.9%. Government support toward C-V2X technology and improving road infrastructure is expected to support the automotive V2X market. Furthermore, the increasing adoption of V2X-equipped models such as Volkswagen ID 4, Volkswagen Golf, and Mercedes-Benz E-Class significantly impact the growth of the market. Moreover, Government regulations…
Construction Equipment Market Poised to Reach $194.7 Billion by 2030
The global construction equipment market worldwide size is valued at USD 149.7 billion in 2023 and is expected to reach USD 194.7 billion by 2030, at a CAGR of 3.8%. Construction equipment refers to heavy machinery that performs specific construction or demolition functions. This equipment is transportable, semi-permanent, or permanent and is primarily used for earthmoving, lifting containers or materials, drilling holes in the earth or rock, and concrete and…
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…
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, significantly growing global automotive V2X market, and the rising sales of…
V2X Cybersecurity Market worth $778 million by 2030
The global V2X cybersecurity market is projected to grow from USD 43 million in 2023 to USD 778 million by 2030, at a CAGR of 51.3%. The advancement in connected car technology and the expansion of the automotive V2X market are key drivers contributing to the revenue growth in the V2X cybersecurity market. Furthermore, the increasing prevalence of cyber-attacks on a global scale, coupled with the escalating volume of data…
Metaverse Market for Automotive Estimated 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%.
Factors such as growing inclination of automotive OEMs for developing technologies like digital twin factories and virtual showrooms in the metaverse space has led to a rapid growth of metaverse industry. Many software giants and start-ups are also developing their AR/VR technologies to…
EV Charging Station Market Size, Share, Trends & Forecast 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 Suspension Market Size, Share, Trends & Forecast by 2027
Automotive Suspension market is projected to reach USD 51.6 billion by 2027 from USD 45.3 billion in 2022, at a CAGR of 2.6%.
Growing sales of SUVs, EVs, and luxury vehicles globally fuel the demand for advanced suspension systems. Increasing adoption of air suspension systems in buses and trucks to drive advanced suspension systems in commercial vehicles.
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Active suspension - the fastest growing suspension system type
The growing demand…
Mobility as a Service Market Estimated 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…
Global Machine Tools Industry worth $104.7 billion by 2030
The global machine tools market is projected to grow from USD 78.6 billion in 2023 to USD 104.7 billion by 2030, registering a CAGR of 4.2%. Major machine tool manufacturers across the globe are focusing on critical areas such as reduction in idle time, increase in asset utilization, productivity through quality improvement, process optimization, and better management of productivity through appropriate performance metrics. The increasing demand for precision and high-quality…
Automotive Transmission Market Estimated to Reach $84.2 Billion by 2028
Published by MarketsandMarkets, the global automotive transmission market is projected to grow from USD 62.4 billion in 2023 to USD 84.2 billion by 2028, at a CAGR of 6.2% from 2023 to 2028.
The automotive transmission market is driven by factors such as - a shift towards automatic transmissions due to increasing customer preference for convenience and rising demand for fuel-efficient vehicles leading to advancements in transmission technologies. Rising demand…
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…
