automotivemarketreports: 2022

Thursday 3 November 2022

Internal Combustion Engine Market Worth 370,693.0 Thousand Unit By 2030

The global Internal Combustion Engine Market is expected to reach 370,693.0 thousand units by 2030 registering a CAGR of 9.3% during the forecast period, according to a new report by Grand View Research, Inc. Rising disposable income in various nations and increased automobile use throughout the world are a major factor driving the market.

A spike in technological advancement in internal combustion engine (ICE) in terms of pollution, fuel efficiency, and performance is expected to boost demand by 2030. Additionally, the lack of electric vehicle charging infrastructure worldwide coupled with increasing output of shale gas and growing demand for ICE in defense vehicles such as submarines and ships is further driving the market growth. The demand for ICE is also experiencing enlargement due to the application in end use sectors such as mining and construction.

Due to rigorous legislative requirements for fuel efficiency, manufacturing companies are trying to produce high-speed and high-power engines with maximum customer satisfaction along with minimal environmental consequences and exhaust emissions. Despite these efforts, governments throughout the world, notably in the automobile sector, are raising the alert for IC engines.

For instance, the France, United Kingdom, India, Norway, and the Netherlands plan to prohibit the sale of ICE by 2025. Similarly, countries such as Germany and China are also planning to ban sale ICE but, they have not defined timeline. The petroleum segment is expected to develop by a steady growth rate due to the increasing automotive industry in the developing countries. Moreover, gasoline engines are also pushing the market growth as these engines produce less noise and vibration.

IC engines are now combined with hybrid electric power trains to improve fuel efficiency, owing to the advancement of electric vehicle technology. To increase the plug-in hybrid electric vehicle offering, these engines are also paired with plug-in hybrid electric systems.

Related Press Release@ Internal Combustion Engine Market Report

Internal Combustion Engine Market Report Highlights

The internal combustion engine market is expected to reach 370,693.0 thousand units by 2030 with a CAGR of 9.3% during the forecasted period owing to the increase in passenger and commercial vehicle sale
The petroleum segment is expected to grow at a steady growth rate owing to the increasing automotive industry in the developing countries
Additionally, growing technical developments, modernization of production processes, and increased research and development efforts in the industry will generate new possibilities for the IC engine market during the upcoming years
The increasing price of crude oil, stringent emission norms, fuel supply security, and noise pollution have compelled OEM to shift their focus toward the natural gas and hydrogen-based engines

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Wednesday 24 August 2022

Public Transportation Market Size Worth $309.1 Billion By 2028

The global Public Transportation Market size is expected to reach USD 309.1 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.9% from 2022 to 2028. The market is driven by the economic growth in Asia Pacific and the Middle East and Africa and the increasing number of megacities in the region. According to the World Economic Forum data, by the year 2030, six cities will emerge as new megacities, including Dar es Salaam, Luanda, and Chennai, as the population keeps flocking to urban areas. Increasing government initiatives and the development of smart cities also facilitate the growth of public transportation.

The market growth can be attributed to the increasing technological advancements such as electric buses, BRT systems, contactless ticketing solutions, improving the public transport experience, and increasing ridership. The market witnessed a steep decline in the overall ridership and revenue as an immediate effect of the Covid-19 pandemic. Worldwide, numerous countries imposed restrictions and lockdowns, which inhibited commuters from riding public transport and compelled them to opt for private means of transport. Over the forecast years, the market is expected to recover with steady growth.

The online distribution channel is anticipated to expand at a lucrative CAGR of 8.9% from 2022 to 2028. Increasing use of smartphones, digital payment solutions, and increasing penetration of internet services are propelling the online segment growth in the global market. Increasing initiatives to adopt contactless ticketing and the integration of hassle-free online platforms are anticipated to contribute to the growth of the online segment. For instance, the CIVITAS initiative in European cities for smart and sustainable transport policy with the implementation of innovative ticketing and payment.

Based on mode type, the road segment accounted for the largest revenue share of over 55.0% in 2021. The road is an integral part of public transport in the urban and local areas across the world. Widespread availability and higher ridership by road transport are responsible for the large market share. Bus rapid transit system implemented in many cities has a high success rate and high public satisfaction, providing fast and sophisticated transport option, thereby increasing the ridership.

The Middle East and Africa is anticipated to register the 2^nd highest CAGR of 6.0% from 2022 to 2028. Rapid urbanization and economic growth in the Middle East and Africa are leading to the expansion of smart cities in the region. Population migration to the urban areas is likely to increase rapidly over the forecast years. Governments across the region are investing and planning to provide sustainable and advanced public transportation solutions. For instance, UAE is planning to expand its public transportation system even further, with Dubai Autonomous Transportation Strategy, Surface Transport Master Plan, and Abu Dhabi Transportation Mobility Management Strategy.

Related Press Release@ Public Transportation Market Report

Public Transportation Market Report Highlights

Asia Pacific dominated the market in 2021, with a revenue share of over 40.0%. A large population of middle-income class, dependency on public transport, and developed megacity concentration in the region are contributing to the regional market growth
The offline distribution channel segment occupied the largest revenue share of over 80.0% in 2021. Widespread availability, higher preference from consumers, reluctance to use the online channel, and lack of online solutions are contributing to the growth of the market
The rail mode type segment is anticipated to register a significant CAGR of 6.3% over the forecast period. The growth is attributed mainly to the increased spending and expansion of the rail infrastructure for metro, subway, LRT, etc.

Wednesday 17 August 2022

Pickup Trucks Market by Stellantis N.V., Ford Motor Company, Toyota Motor Corp., Nissan Motor Co. Ltd.

The global Pickup Trucks Market size is estimated to reach USD 249.71 billion by 2028, registering a CAGR of 1.6% from 2022 to 2028, according to a new report by Grand View Research, Inc. The global market is driven by the increasing disposable income levels and growing middle-class population. Technological developments in the automotive industry have led to a significant decrease in vehicle retail prices and an increase in affordability, fueling the sales of new pickup trucks across the world. In addition, these trucks are significantly becoming luxury rides in various countries due to their enhanced appearance and aesthetics.

The emergence of e-commerce companies facilitated by the increasing demand from techno-savvy consumers is further driving the product demand from small- and medium-sized companies. Diesel-based vehicle type segment dominated the market in 2021. Higher consumer preference for diesel-based pickup trucks, due to the higher torque and calorific value than any other fuel type, will support the segment growth. Diesel engines run more efficiently and have a long life when towing heavy loads than other fuel types. Moreover, the extensive product portfolio offered by the key manufacturers also results in the higher adoption of diesel-based vehicles. The heavy-duty segment is expected to register the fastest growth rate over the forecast period.

Increasing e-commerce business and demand for heavy-duty trucks for delivery purposes across the world are surging rapidly. Moreover, increasing interest of consumers in the newly launched aesthetically improved models and increasing product launches by the key manufacturers are credited to the segment growth. For instance, General Motors Company is planning to launch its heavy-duty pickup truck, the 2022 GMC Sierra 3500HD with 401 horsepower and 464 lb-ft of torque. Central & South America is anticipated to witness the second-fastest CAGR from 2022 to 2028. The rising middle-income class, increasing disposable income, growing spending on personal cars, and increasing expansion of key players in the region are expected to drive the regional market growth.

For instance, in August 2018, Nissan increased the production of Frontier pickup trucks by setting up a new production facility in Cordoba, Argentina. As reported in February 2020, Toyota ramped up the production of pickup trucks in its Mexican plant, also accelerating their regional sales. The COVID-19 pandemic negatively impacted the global market Pandemic-induced lockdowns and other restrictions caused unprecedented challenges in the supply chain of the automotive industry. Shortage of semiconductor chips and other auto parts resulted in the halting of production of pickup trucks and impacted the overall sales revenue during the pandemic. However, the market is expected to recover and register a considerable growth rate post-pandemic.

Related Press Release@ Pickup Trucks Market Report

Pickup Trucks Market Report Highlights

North America dominated the global market in 2021 on account of the strong presence of key manufacturers and the positive attitude of consumers towards pickup trucks in the region
The light-duty vehicle type segment dominated the global market in 2021 and will expand further at a steady CAGR from 2022 to 2028
An extensive portfolio of light-duty pick-up trucks by key players, growing sales, and higher consumer preference for light-duty vehicles are attributed to the segment’s high market share
The diesel fuel type segment dominated the global market in 2021. Higher torque and high calorific value offered by diesel-based vehicles boost the sales of diesel-based models

Friday 3 June 2022

U.S. Retail Logistics Market by APL Logistics Ltd, A.P. Moller – Maersk, C.H. Robinson Worldwide, Inc.

The U.S. Retail Logistics Market size is estimated to reach USD 109.31 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 11.0% from 2022 to 2030. Retail logistics is a system in which a company provides logistics services to retail businesses in need of distribution and inventory management. A retail logistics company provides services, including inventory management, packaging, cross-docking, and door-to-door delivery. The rapid growth of the global e-commerce sector and the development of new technologies drive the demand for logistics services.

The supply chain solutions segment held about 35.98% of the market share in 2021 and also is anticipated to register the fastest growth during the forecast period. The supply chain enables on-time delivery, optimizes omnichannel operations, personalizes kitting and order fulfillment, and effectively processes customer returns. It also enables fast direct-to-consumer and direct-to-store shipping, which improves warehouse efficiencies as well as optimizes inventory.

The ongoing COVID-19 pandemic has taken a severe toll on the global economy in majorly three ways: suppressing profitability, directly affecting production and demand, and drying up financial reserves and cash flows. Retail logistics companies are equally affected by the COVID-19 pandemic. The industry suffered a minor setback during the initial phases (Q1 and Q2) of the pandemic due to a shortage of labor and supply chain disruptions. Later, with consumers avoiding in-store purchases and preferring online shopping, the increase in online orders did put an unprecedented strain on retail logistics companies' transportation and logistics services.

Key industry participants are FedEx International, A.P Moller-Maersk, DSV, and DHL International GmbH. These companies are focusing on new product development, which helps in strengthening their global market presence. For instance, in August 2020, APL Logistics Ltd announced the launch of a suite of products to measure, manage, and mitigate GHG emissions in the shipping and logistics sector. Under the product suite, the company planned to measure greenhouse emissions, suggest efficient ways to mitigate emissions, and offset the remaining carbon liability through its partnership with verified carbon offset projects. Additionally, market players are continually investing in R&D to develop differentiated products and stay ahead of the competition.

Related Press Release@ U.S. Retail Logistics Market Report

U.S. Retail Logistics Market Report Highlights

The market for U.S. retail logistics is anticipated to witness substantial growth during the forecast period due to escalating demand for e-commerce across the globe
Based on type, the conventional retail logistics segment dominated the market with over 57% of the total market in 2021
The roadways segment held the largest market share of 53.2% in 2021 owing to the increased emphasis on logistics infrastructure and the growing public-private partnerships model. The high share is attributable to the growing demand for roadways vehicles in the long-distance transportation of retail products, especially in domestic regions

Thursday 13 January 2022

Automotive Powertrain Market Worth $1,125.66 Billion By 2025

The global Automotive Powertrain Market size is expected to reach USD 1,125.66 billion by 2025, according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 11.6% from 2021 to 2025. The increasing demand for environment-friendly vehicles and increasingly stringent government regulations regarding vehicular emission are expected to favor the demand for automotive powertrains in the market. Moreover, technological advancements in powertrain systems to enhance the vehicle's efficiency are anticipated to boost market growth prospects over the forecast period.

The adoption rate and pace of evolution of automotive powertrain vary across regions according to purchase subsidies, regulatory differences, road pricing, fuel taxation policy, state support, and consumer preferences. In Europe and countries such as China, South Korea, and Japan, stringent regulations are expected to make OEMs shift their focus on electrified powertrain options. Other significant factors that constitute the evolution of powertrain include developing charging infrastructure in different regions globally.

Increasing vehicle sales and the growing adoption of automated transmission vehicles in emerging countries such as India, China, Indonesia, Japan, and Brazil, are expected to drive the market. The substantial rise in the purchasing power of consumers has increased the demand for state-of-the-art motor vehicles, driving the demand for upgraded systems. The rising use of All Wheel Drive in SUVs in emerging regions is also expected to support the growth of the powertrain market. The growing demand for AWD-equipped vehicles in the Asia Pacific region is expected to boost the growth of the all-wheel-drive system market.

The COVID-19 pandemic has hampered the growth prospects of several industries in 2020; powertrain manufacturers are facing a year-on-year decline in unit volumes sales and revenues. For instance, BorgWarner Inc., a prominent market player in the electric powertrain market, witnessed a decrease in the e-Propulsion & Drivetrain business segment. However, the demand for vehicles with upgraded safety features is likely to increase post-pandemic. Since automotive powertrain plays a vital role in automobiles, the market could regain momentum. Furthermore, despite the pandemic, the growing demand for electric vehicles is anticipated to boost the demand for automotive powertrains.

Related Press Release@ Automotive Powertrain Market Report

Automotive Powertrain Market Report Highlights

In terms of vehicle type, the commercial vehicle segment is expected to expand at the highest CAGR of around 11.7% over the forecast period. This can be attributed to the increasing demand for a unified supply chain network connecting multiple transportation modes, including freight rail, air, and express delivery services, maritime transport, and truck transport
In terms of propulsion type, the ICE segment dominated the market in 2020 and is anticipated to value at more than USD 902.91 billion by 2028. This can be attributed to the price difference between ICEs and EVs and inadequate charging infrastructure
The Asia Pacific regional market held the dominant market share in 2020, with the China market being a significant contributor. China remains the largest manufacturer of automobiles and automotive markets across the globe. In 2020, China ranked first in terms of the production of passenger cars globally, which stood at nearly 21 million

Wednesday 12 January 2022

Automotive Semiconductor Market Size is Estimated to Witness 6.2% CAGR till 2028

The global Automotive Semiconductor Market size is expected to reach USD 63.92 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.2% from 2021 to 2028. The growing focus on vehicle safety systems and a significant increase in the adoption of engine control units (ECUs) in modern automobiles are anticipated to drive the demand for automotive semiconductors. Moreover, emerging technologies such as 5G and IoT are expected to play an instrumental role in increasing the demand for automotive semiconductors. Additionally, electric vehicles and all levels of assisted driving technologies are expected to create considerable growth opportunities over the next eight years.

Electrification in the automotive industry is growing rapidly owing to the rising need to reduce carbon emissions. Having realized the importance of electric vehicle business opportunities, several manufacturers are increasingly investing in smart technologies, electronics, and safety systems. Such components of electric vehicles comprise semiconductors equipped with advanced technologies to improve the functionalities of smart electronics. For instance, the application of shock sensors, MEMS accelerometers, MEMS gyroscopes, inertial sensors, tilt sensors, and MEMS microphones for roll over detection, electronic braking, dynamic head lighting, inertial navigation, and airbag safety systems. Hence, as the demand for hybrid and electric vehicles increases, the need for semiconductors is anticipated to increase over the forecast period.

The outbreak of the COVID-19 pandemic hampered the overall business scenario in 2020, and the economy is expected to continue experiencing its aftermath over the next few years. The market witnessed a negative impact as major automotive fabricating units were shut and their production was completely halted in response to lockdown measures across the world. Additionally, the pandemic caused an unrealistic disturbance in the production and supply chain network. This influenced R&D and capital investments. The market experienced a substantial decline, of nearly -7.0%, in 2020. However, the impact of the pandemic started reducing with the reduction in positive cases and the launch of vaccination campaigns across several countries. As a result, governments across the globe eased the lockdowns and restrictions, thereby leading to a restart in manufacturing operations in the automotive semiconductor industry.

Safety guidelines and regulations imposed by governments are expected to play a key role in driving the demand for semiconductors in North American and European markets. For instance, a special focus on accident avoidance through ADAS is expected to help drive market growth in countries across these regions. The Asia Pacific region, led by China, is projected to emerge as the fastest-growing market owing to rapid EV adoption and strong government support.

Related Press Release@ Automotive Semiconductor Market Report

Automotive Semiconductor Market Report Highlights

In 2020, the others component segment, which includes analog ICs and logic ICs, accounted for the highest share as logic ICs are widely used in navigation and infotainment systems
In terms of vehicle type, passenger vehicle emerged as the dominant segment in 2020 and is anticipated to retain its dominance over the forecast period
The telematics and infotainment segment is projected to expand at the highest CAGR of more than 9.0% over the forecast period and is anticipated to hold a dominant share by the end of the forecast period
The Asia Pacific market emerged as the dominant region in 2020 and is projected to register the highest CAGR over the forecast period

Automotive Exhaust Systems Market Worth $68.45 Billion By 2028

The global Automotive Exhaust Systems Market size is expected to reach USD 68.45 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.2% from 2021 to 2028. Stringent government regulations associated with vehicle emissions coupled with the increasing penetration of after-treatment devices are anticipated to drive the demand for automotive exhaust systems. Moreover, the increasing sales of passenger cars and commercial vehicles along with the growing demand for lightweight emission systems are expected to create significant opportunities for players operating across the value chain of the market.

Automotive OEMs are working on several aspects, such as new and lightweight materials, drivetrain (engine/transmission) efficiency, and aerodynamic design, to reduce the vehicular weight. Conventional exhaust systems and their components are manufactured using materials such as stainless steel, cast iron, and mild steel/carbon steel. However, several automotive OEMs, exhaust system manufacturers, and other companies are working to provide lightweight products made from composite metals with high-temperature resistance. For instance, Tenneco Inc. offers lightweight compact systems and lightweight after-treatment and dosing systems to improve the fuel economy and thermal management of the exhaust system and overall vehicle.

The outbreak of the COVID-19 pandemic hampered the overall business scenario in 2020, and the economy is expected to continue experiencing its aftermath over the next few years. Supply chains were disrupted and production was suspended temporarily at several production facilities because of the lockdowns and restrictions imposed in various parts of the world. Subsequently, shipments got delayed and production volumes plummeted, thereby affecting the overall automotive production. As a result of the pandemic, several companies and exhaust system manufacturers confronted a year-on-year decline in unit volumes and revenues. For instance, Eberspacher, a prominent market player in the exhaust system market, witnessed a decline in the Exhaust Technology business segment revenue. The company's exhaust technology sales decreased by 0.4% year-over-year to USD 6,033.1 million in 2020 compared to USD 6,099.46 million in 2019.

In 2020, Asia Pacific captured around 60% of the automotive exhaust systems demand and is estimated to register a CAGR of around 7.0% over the forecast period. This share is attributed to the increasing production and sales of passenger cars and commercial vehicles in emerging economies such as India and China. China has been the largest automotive manufacturer in the world since 2008. The country's automotive production annual volumes are greater than the volumes of the European Union (EU). India is the fifth-largest automotive manufacturing country in the world. The Indian market is estimated to expand at the highest CAGR over the forecast period as the Indian government is taking several initiatives to develop the automotive sector in the country. The Automotive Mission Plan 2016-2026 is a joint initiative by the Indian Automotive Manufacturers and the government to plan a roadmap for developing the automotive sector in the country.

Related Press Release@ Automotive Exhaust Systems Market Report

Automotive Exhaust Systems Market Report Highlights

In terms of component, the muffler segment is estimated to register the highest CAGR of over7% from 2021 to 2028 owing to the increasing demand for dual-exhaust muffler systems in mid-sized and luxury vehicles
In terms of fuel type, the gasoline segment emerged as the largest segment in 2020 and is anticipated to retain its dominance over the forecast period
In terms of vehicle type, the commercial vehicles segment is projected to expand at the highest CAGR of around 7.5% over the forecast period due to increasing demand for commercial vehicles across the transportation and logistics sectors
Asia Pacific emerged as the largest regional market for automotive exhaust systems in 2020 and is anticipated to retain its dominance over the forecast period