The market for intelligent transportation systems and services is growing steadily with rising need to reduce traffic congestions particularly in metropolitan cities across the world. In addition, intelligent transportation systems offer benefits such reduced fuel consumption, travelling delays and environment protection. Rising awareness about the benefits of this technology is expected to spur the demand for ITSS particularly in emerging markets.
Government regulations promoting vehicle safety is identified as the major factor driving the demand for head-up displays in the automotive market. In addition, rising demand for smart cars is driving the demand for automotive infotainment systems, which, in turn is stimulating the demand for head-up displays in automotives, especially luxury and premium cars. The introduction of low-cost prototypes is further expected to augment the use of head-up displays in mid-segment cars. These factors are expected to contribute towards a compounded annual growth rate (CAGR) of 24.3% during the forecast period 2015 – 2022.
The number of vehicles including taxi fleets in China has grown considerably in recent years, which has resulted in increased air pollution, traffic congestion, and fuel consumption. The new energy vehicles have garnered lot of interest across the globe, especially in China. Their ability to curb carbon emissions, leading to improved air quality and reduced dependence on foreign oil has been instrumental in driving market adoption.
Forestry truck mounted cranes include different types such as timber cranes for tree length, timber cranes for cut to length and timber Z-cranes. Forestry truck mounted crane is multi-purpose equipment that can be used for various forestry operations from loading to transportation. Manufacturers are focusing on developing truck-mounted cranes used for forestry operations, combined with latest technologies and materials and components of the highest quality.
The demand for X-ray tire inspection systems has been modest in developed markets like North America and Europe. Even though both regions are fast recovering from the declines recorded during the economic recession 2009 – 2012, the demand for X-ray tire inspection systems in these regions is expected to witness growth below the global average.
The potato harvesters market is expected to see a double digit year on year growth globally in the next six years. This is particularly due to increasing production of potatoes and organic foods globally. In addition, farmers in India and China are rapidly shifting towards modern farming methods. All these factors represent a positive outlook for potato harvesters and related equipment manufacturers and suppliers.
Revival of the automotive industry post economic recession and rising disposable income resulting in growing desire for luxury and comfort in automotives are collectively expected to favor market demand over the forecast period 2016 – 2022. In addition, growing preference for private vehicle ownership owing to the availability of private financing schemes has had positive impact on the market growth. These factors are expected to contribute towards a compounded annual growth rate (CAGR) of 7.9% during the forecast period 2016 – 2022.
The existing static front lighting systems provide illumination straight onto the surface of road/ground without any sensitivity to curves or steering control. Thiscreates difficulty for the driver when driving (during dark) through curves and blind spots. Since the conventional lighting system illuminate surface right in front of the vehicle, the amount of illumination provided on curves is insufficient.According to the U.S. National Highway Traffic Safety Administration, more than half of the total number of accidents occur during dark despite the fact that only 25% of the overall traffic travels occurs during night time.
Revival of the construction industry post economic slowdown is one of the major factors driving the global bearings market. Increased industrial production and agricultural mechanization coupled with the growing demand from aerospace and automotive sectors is also influencing the market demand. These factors are expected to contribute towards a compounded annual growth rate (CAGR) of 7.3% during the forecast period 2016 – 2023.
Weighing equipment form one of the most integral parts of the overall industrial ecosystem. These equipment find role right from the raw materials to the delivery of finished products. Weighing equipment typically comprises a weighing platform, sensors for the electronic scales (lever in case of mechanical scales) and display. The market growth is largely driven by the need for faster, accurate and more reliable weighing solutions.
The global electric vehicles market has observed a significant growth in the last five years and is expected to witness double digit growth through the forecast period 2016 - 2022. This growth is primarily attributed to introduction of mandatory policies to reduce green house gases and vehicle fuel consumption in several countries. In addition, U.S. and European countries are offering incentives for purchase of a new electric care in order to promote use of electric cars. Rising fuel prices and improving economic conditions are also expected to spur the demand for electric vehicles.
The global cargo handling equipment market has observed a considerable growth in the last five years and is expected to promising growth through the forecast period 2016 - 2023. This growth is primarily attributed to increasing traffic at ports and initiative take by port operating authorities to reduce fuel emission and improve operating efficiency.
The automotive test equipment market is predicted to witness significant growth through the forecast period 2016 – 2023 with increasing motor vehicle production across the world. In addition, introduction of mandatory regulations to reduce fuel emission, improve vehicle safety and repair and maintenance policies in major countries across the world. All these factors are expected to drive the market for automotive test equipment in the next five years.
The global airport retail market has witnessed a significant growth during 2013 - 2015 and is predicted to witness promising growth through the forecast period 2016 - 2022. Increasing number of budget travel options, rising number of air travelers and terminals and expansion of multinational retailers are expected to support this market growth through the forecast period. In addition, increasing disposable income of middle class families and availability of luxury products at discounted prices are also predicted to surge the growth of airport retail market.
Automotive interior ambient lighting are increasingly becoming popular in the overall automotive industry. Due to high added aesthetic value to the vehicle, consumers also have an emotional view towards installing ambient lighting in their vehiclesAmbient interior lighting also ensures driver safety as it enhances the effective visibility of dashboard and other control systems for drivers in case of low visibility.Subsequently, automobile manufacturers are incorporating ambient lighting as differentiator to their vehicles.
Unmanned aerial vehicle (UAV), also referred to as drones, are aircraft systems capable of operating without any human pilot aboard. In contrast to other platforms such as aerostat systems, airships, UAVs are capable of hovering over a given region covering larger surface area. Thus, UAVs are majorly preferred over other platforms due to larger covered area.These aircrafts can be operated using a remote control or autonomously using an onboard computer.
This report analyzes the global industrial fasteners market in terms of product type, application, and geography. Based on product type, the global industrial fasteners market is segregated into standard industrial fasteners (external threaded, internal threaded, and non-threaded), aerospace-grade fasteners, and other application-specific fasteners. Similarly, on the basis of application, the market for industrial fasteners is further classified into original equipment manufacturing, construction and maintenance/repair/operations (MRO).
Factors including improved standard of living, rise in discretionary income, and growing industrialization and commerce have led to rise in automobile production. This, in turn is driving demand for automotive air filters. In addition, compliance with the environmental regulations is expected to encourage consumers to regularly install efficient filtration and ventilation systems in automotives.
This report analyzes the global car rental market in terms of vehicle type, rental category, and geography. On the basis of vehicle type, the global car rental market is segmented into economic vehicles, executive vehicles, SUVs, MUVs, and luxury cars. Similarly, on the basis of rental category, the global car rental is further classified into airport transport, local transport, and outstation transport. The geographical distribution of the global car rental market considered in this study encompasses regional markets such as North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Automobile has become an inseparable part of modern day life style. Due to factors such as growing discretionary income of people along with continual advancement, the industry has witnessed profound growth over the past few decades. However, the overall automotive industry has been witnessing consistent challenges such as goods and passenger safety, comfort and fuel economy.
Commercial vehicle transportation plays an important role in industrial development and public transport. Ever-rising domestic as well as international trades has resulted into immense demand for prompt commercial transportation service, over the period of time. In addition, with the emergence of ecommerce and logistics industry, commercial transportation has become the most crucial mode of transportation worldwide.
Automatic number plate recognition (ANPR), also termed as automatic license plate recognition, is a method to read alphanumeric characters on license plate of vehicles by using optical character recognition method. ANPR is considered one of the most effective methods for tackling traffic issues. The overall system is divided into two phases; first one is to capture image of license plate and the second stage comprises image processing to recognize characters on the license plate with the help of software.
Modern day automobile are designed to exhibit high performance features such as exceptional speed and improved overall efficiency. However, with the enhancement of performance parameters, it becomes essential to incorporate the related safety system in automobile vehicles. Automotive braking system is one of the most such crucial and integral components of any automobile vehicle.
The advancements in technology coupled with growing awareness regarding the benefits offered by supply chain management solutions among shippers bode well for the market growth. In addition, proliferation of e-commerce and consequent need for multi-channel distribution is aiding the logistics market worldwide.
Train control and management system (TCMS) is used for high speed trains. These systems are equipped with real-time digital computer to provide high safety levels meeting safety standards. TCMS includes redundant architectures and voting algorithms to meet the defined safety integrity levels. The purpose of this research study titled ‘Train Control and Management Systems Market - Growth, Future Prospects, and Competitive Analysis, 2017 – 2025’ is to provide investors, developers, company executives and industry participants with in-depth analysis to allow them to take strategic initiatives and decisions related to the prospects in the global train control and management systems market.
New energy vehicles (NEVs) encompass various automotive four wheelers and two wheelers which make use of alternative fuel source as opposed to the conventional oil and gas. The new energy vehicles make use of electric motors which can run on electricity either stored in a battery, generated during braking and general running or created using a hydrogen fuel cell.
Automotive automatic transmission, also called as auto/self-shifting transmission, refers to a transmission system that is capable of changing automatically as the vehicle starts moving. Unlike manual transmission systems, automatic transmission eliminates the need for human intervention for gear shifting thereby providing better comfort to the driver. The history of automatic transmission dates back to early 1920s (invented by Alfred Horner Munro, Canadian steam engineer.
The rising competition among e-commerce companies and consequent call last mile logistics through omni-channel distribution is identified as one of the major factors driving the global e-commerce logistics market. In addition, evolving digital habits of consumers coupled with advancements in technology bode well for the market growth. The advancements in technology has enabled service providers to integrate e-commerce logistics with the state-of-the-art supply chain management solutions, and thereby optimize flow of goods and plan deliveries across the supply chain.
The purpose of this research study titled ‘Traction Equipment Market - Growth, Future Prospects, and Competitive Analysis, 2017 – 2025’ is to provide investors, developers, company executives and industry participants with in-depth analysis to allow them to take strategic initiatives and decisions related to the prospects in the global traction equipment market. This report presents and analyzes the major trends prevalent in the global traction equipment market and the market size and forecast.
Lawn mowers include various gardening equipment which are used for cutting and maintaining grass at desired height. Lawn mowers are widely used to maintain and decorate lawns, gardens and yards across the world. With different types of lawn mowers available including walk-behind, riding lawn mowers, tractors, zero turn mowers, and robot mowers, end-user can maintain various types of landscapes such as small yards and gardens to large parks and farm areas.
Tires constitute as the most important component in any vehicle providing traction, support and comfort in the ride. Over the years, bicycle tires have immensely evolved from basic tubed tires to ride specific racing and off-road tires. Some of the major types of bicycle tires available in the market including tubed, tubeless and airless. On account of lower costs and ease of installation, the tubed bicycle tires have experienced higher adoption over the years.
Automotive filters are among the most crucial components of any automotive responsible for efficient functioning of vehicles. Introduction of impurities in oil/fuel can seriously harm the vehicle’s engine, leading to higher maintenance costs and poor vehicle performance. Similarly, passing unfiltered air to the vehicle engine/HVAC system too results into inefficient operation of the vehicle.
The global tanker trucks market is expected to witness a significant growth with improving economic conditions globally, increasing production and trade of oil and gas and chemical products is expected to drive the demand for tanker trucks market globally. The tanker trucks market worldwide is expected to reach US$ 1.28 Mn by 2025, growing at a CAGR of 5.5% from 2017 to 2025.
The global tire pressure gauge market is expected to witness a considerable growth with increasing sale of all types of vehicles and stringent regulations related to installation of tire pressure monitoring system globally. The tire pressure gauge market is expected grow at a CAGR of 4.5% from 2017 to 2025. The demand for tire pressure system is also increasing with increasing number of independent service stations globally.
Spring is a simple object which stores mechanical energy and can be twisted, pulled, or stretched by an external force. The springs have virtually no alternative and therefore are extensively used for in several end-use industries depending upon their applications, types, shapes, sizes, stiffness and other mechanical properties.
Wheelchair accessible vehicles are vehicles which allow easy access for wheelchairs to board a vehicle. The wheelchair along with its carrier can easily board a vehicle either with a help of a ramp or a wheelchair carrying lift. This system allows the person to drive the vehicle or commute as a passenger without excess exertion to get on to the vehicle from the wheelchair. The vehicle converter manufacturing companies have been engaged in developing strong, safe and efficient wheelchair accessible solutions.
Automotive parts remanufacturing can be defined as the process of rebuilding of automobile components to the specifications of original manufactured product using a combination of reused, repaired and new parts. The concept of automotive parts remanufacturing started in 1940’s in the North America and Europe regions.
Automotive steering system is among the most integral parts installed automobile vehicles. Steering systems allows the driver to control and maneuver the vehicle in desired direction. The basic components of an automotive steering system include steering wheel, steering column, universal joints, rack & pinion mechanism and other control mechanism.
Airless tires refer to next-generation non-pneumatic tires that eliminate the need for air pressure. These tires may be based on spokes or honeycomb structure and can be manufactured using 3D printing method. These tires can potentially be manufactured using a wide range of materials including plastic, paper, electronic waste, wood or recycled rubber. Currently, these tires are being produced using recycled rubber and organic recyclable compounds. The airless tires market is primarily driven by their immense benefits such as no risk of flat tires, longer life, rugged application and several others. Additionally, since the material used for airless tires is primarily recyclable, using these tires is more eco-friendly as compared to the pneumatic counterparts.
Automotive hub motor, also called as wheel motor, in-wheel motor or wheel hub drive, is an electric motor fitted in the hub of the wheel. These motors are primarily used in electric bicycles and are witnessing steady rise across other applications such as electric cars and commercial vehicles.
Autonomous farm equipment can be defined as the equipment which do not require any human operator to be onboard the machine to operate it. The farm equipment can be partial autonomous or fully autonomous which offer much more features than the conventional auto-steer systems. Autonomous farm equipment aid the cultivators to perform better job and increase their productivity.
Brush cutters refer to the gardening equipment used for cutting tall grass and weeds at desired height or length. Brush cutters are widely used to maintain and decorate lawns, gardens, and yards across the world. With the different types of brush cutters available, brush cutters have found a wide array of applications in various settings.
The global automatic emergency braking (AEB) system market is still in the introductory stage of development and its application is majorly in passenger cars, especially premium luxury cars, and to an extent in mid-segment cars. Increased discretionary income and the availability of private financing schemes has had positive impact on sale of high-end passenger cars, which, coupled with government mandates promoting vehicle safety is supporting demand for automatic emergency braking systems.
With the growing awareness regarding workplace safety and benefits offered by efficient powered lifting equipment, the global demand for boom trucks is presumed to witness strong growth during the forecast period 2017 – 2025. The growing need of meeting housing demands of huge population has triggered government and private investments in the construction and real estate sector, which, in turn is further favouring market demand.
Amphibious vehicles are the wheeled or tracked vehicles which can be used on both land as well as water surface. Since its inception, the utility of amphibious vehicles was acknowledged in various military applications during the World War II. A variety of amphibious vehicles were created during the World War II for varied military and defense applications including surveillance, rescue and assaults.
High-end finishing is an important component of automobile production as it not only protects the body surface, but also enhances the visual appeal of customers through bright engaging colors and glossy surface. Automotive spray booths refer to a series of large enclosures where finishing and painting of vehicle bodies occur.
Safety has always remained a top priority for both passengers and pedestrians while on the road. With the number of fatalities and crashes increasing every year, there has been a growing focus on the part of various automobile manufacturers to tackle this rising concern.
Tank trucks are majorly used for bulk liquid transportation. Tank trucks are utilized by oil refineries and oil trading companies to safely deliver oil and petroleum products to the distribution point. Tank trucks have capacity to carry wide range of liquids and may act as an interface between two different modes of transport. Thus, it plays a vital role in transporting oil from production areas to rail terminals and pipelines.
Automotive wiring harness can be defined as a medium to connect all electrical and electronic components together for power supply, sensor signals and transmitting data for enhancing vehicle performance. An automotive wiring harness is a collection of assorted wires, each having unique attributes such as material, dimensions, current ratings and number of cores, among others. Depending on their application, nature of current and signal to be transmitted, these wires are assembled together into a complete wiring harness which can be readily installed in an automobile. Wiring harnesses are distinguished according to their application in various vehicle types such as two-wheelers, passenger cars, heavy and light commercial vehicles irrespective of their power source.
Automotive steer-by-wire (SBW) systems refer to steering system that is controlled by a computerized engine unit. Unlike conventional steering systems that are linked mechanically, SBW system transmits signals from wheels to a computerized unit which then controls tire movement.
Bicycles with an additional feature of folding have been witnessing an upsurge in demand from past few years. Folding bicycles provide better mobility and comfort of traveling during daily commute when compared to conventional bicycles. Along with functionality, folding bicycles are also packed with multiple features such as flexibility for mixed commute, less possibility of bicycle theft, carrying them up a flight of stairs and easy storage. Several bicycle manufacturers have been offering a variety of folding bicycles with different frame materials, wheel sizes and gear variants for activities such as touring and adventure biking.
The global boom cranes market was valued at US$ 309.9 Mn in 2017 and reached is further expected to reach US$ 456.5 Mn by 2026, growing at a CAGR of 4.5% over the forecast from 2018 to 2026. Boom cranes are utility vehicles used to lift or lower heavy objects at residential, commercial, and industrial project facilities. Boom cranes have relatively greater lifting capacity and are extensively used in heavy duty applications for loading and unloading goods.
Development of architectural structures and monuments has been considered as a symbol of human evolution and growth. Several residential, commercial and public structures are the center of emotional, cultural, religious and heritage values for people across the globe.
Booming automotive sector has given substantial rise to a burgeoning automotive garage equipment market. With consistent rise in automotive sales, the related service & maintenance sector has demonstrated immense growth over the period of time. Apart from authorized service centers, multi-brand service centers have come into existence, thereby driving additional demand for related garage equipment.
Automotive wipers market expected to reach US$ 5,898.6 Mn by 2026, growing at 7.2% CAGR during the forecast period from 2018 to 2026. Automotive wipers forms a quintessential part for any vehicle. They perform the important function of removing water, dirt and snow from the windshield of a vehicle.
Demand for automotive diagnostic scan tools is expected to witness strong growth due to increasing electrification of vehicles worldwide. Automotive diagnostic scan tools are combination of electronic devices and software that are used as interface with diagnostic systems in vehicles. These tools are used for identifying faults or malfunctions in electric systems of vehicles by simply plugging cable into a diagnostic connector and running full scan.
Yacht charter market was valued at US$ 9.85 Bn in 2017 and set to grow with a CAGR of 5.4% throughout the forecast period from 2018 to 2026. The market is highly driven by rising inclination towards luxury cruising worldwide.
Continuously growing automotive sector worldwide is helping reciprocating engines market to grow and registered global market value of US$ 197,803.5 Mn in 2017 and anticipated to exhibit a growth with a CAGR of 6.5% from 2018 to 2026. Although automotive industry is the biggest contributor to overall reciprocating engines market, these engines also find their applications across industrial, institutional, and commercial facilities for power generation. The various advantages of these engines include, quick start, follows load well, good part load efficiency and high reliability.
Night vision and driver monitoring systems are two most promising active safety systems purposed to increase driver perception and safety ratios thereby preventing road accidents. At present, night vision and driver monitoring systems are mainly installed in premium and luxury cars.
Automotive display driver IC is one of the most promising segments of the overall display driver’s vertical, considering the rapidly growing penetration of vehicle infotainment systems worldwide. Growing adoption of electronic displays in automotive sector is creating huge market potential for automotive display driver ICs. Consistently rising automotive industry and increasing demand for connected and safe vehicles are some of the factors escalating demand for automotive display driver IC.
Global automotive relay market is touching new heights and registered market value of US$ 13.43 Bn in 2017. The market is on the path of significant growth and projected to reach US$ 22.29 Bn in 2026 with a growth rate of 5.8% throughout the forecast period from 2018 to 2026.
Utility task vehicles (UTV) market witnessed a high uptick in recent few years and registered US$ 4.12 Bn in 2017 that is projected to reach US$ 7.42 Bn in 2026 growing at a steady CAGR of 6.7% throughout the forecast period from 2018 to 2026.
The global traffic management systems and services market is expected to cross US$ 116.0 Bn by 2026 at a CAGR of 20.5% throughout the forecast period from 2018 to 2026. The most significant factor driving the traffic management systems and services market is the rising traffic congestion worldwide. Increasing population coupled with the rising discretionary income of people worldwide has led to high growth in the overall automobile industry.
Fast paced lifestyle and growing demand for ready-to-eat and frozen food products encouraged refrigerated trailers market to register market value of US$ 5.97 Bn in 2017 and estimated to touch US$ 8.99 Bn by 2026 with a compound annual growth rate of 4.7%. Growing demand for refrigerated trailers contributed by a number of factors besides aforementioned dynamics.
The global zero turn mowers market was valued at US$ 1,896.3 Mn in 2017 and expected to expand at a CAGR of 7.3% during the forecast period from 2018 to 2026. Growing significance of gardening as a leisure activity and desire among residential owners to develop garden area and improve aesthetics through properly maintained lawn is collectively driving demand for zero turn mowers worldwide.
The disc brake systems market was valued at US$ 36.45 Bn in 2017 and expected to be growing at a compounded annual growth rate (CAGR) of 4.5% from 2018 to 2026. The most prominent factor aiding the disc brake systems market growth is the rising motor vehicle production across the world. For instance, the world motor vehicle production increased by 4.5% in 2016 over 2015.
The need for optimum fuel utilization and engine performance monitoring urged automotive manufacturers across the globe to incorporate engine speed sensors into their products. This allowed engine speed sensors market to reach market value of US$ 3.7 Bn in 2017 and estimated to touch US$ 4.88 Bn by 2026 with a compound annual growth rate of 3.1%. Although a very small device, engine speed sensors plays a major role in driving modern-day IC engines irrespective of application in which they are used.
The market for railway signaling systems expected to witness significant growth with deployment of communication-based train control (CBTC) and other advanced signaling techniques. In addition, market growth is strongly influenced by standardization processes concerning train control which are implemented in order to improve both railway traffic safety and efficiency.
The overall aircraft tires market is set to demonstrate steady growth rate during the forecast period from 2018 to 2026, up from US$ 1,260.4 Mn in 2017. Aircraft tires are among the most dynamically engineered components present onboard aircrafts. Although for short durations, these tires are designed to withstand extremely heavy loads operating at high speeds of more than 150 miles/hour.
The global automotive seat heaters market was valued at US$ 876.6 Mn in 2017 and expected to expand at a CAGR of 5.8% during the forecast period from 2018 to 2026. Steady rise in the production of motor vehicles on the back of improving standard of living and easy availability of financing schemes is identified as the major factor driving demand for automotive accessories including seat heaters worldwide.
The occupant classification systems market was valued at US$ 1.94 Bn in 2017 and expected to be growing at a compounded annual growth rate (CAGR) of 7.2 % from 2018 to 2026. Vehicle safety norms getting stringent by the day is one of the most important factors leading to the increasing deployment of occupant classification systems in vehicles across the world.
The overall automotive tires market worldwide is set to exhibit steady growth rate throughout the forecast period from 2018 to 2026, starting from US$ 155.29 Bn in the year 2017. Tires are among the most important components of automotive vehicles, making it one of the most crucial aspects of the overall automobile components industry.
Automotive wheel rims market value expected to reach US$ 62.7 Bn by 2026, expanding with a CAGR of 5.1% during the forecast period from 2018 to 2026. Essentially directed by Asia Pacific, automotive wheel rims market majorly driven by rising production of automobiles across the globe.
Vehicle security system prevents vehicle theft and avoids usage of vehicles by some unauthorized person. A significant rise in the number of automotive across the globe and proportional growth in crime associated with automotive considerably accelerated the demand for vehicle security system.
Automotive exhaust systems market valued at US$ 26.97 Bn in 2017, expected to grow with promising CAGR during the forecast period from 2018 to 2026. Essentially directed by Asia Pacific, automotive exhaust systems market majorly driven by rising production of automobiles across the globe.
The automotive sunroof market was valued at US$ 6.10 Bn in 2017 and expected to be growing at a compounded annual growth rate (CAGR) of 9.5% from 2018 to 2026. Sunroof is a part of the vehicle roof that allows light and/or air to enter the passenger compartment of the vehicle.
Industry Overview
The automotive and transportation sector is experiencing rapid changes. Regular technical upgrades around a variety of automotive offerings like two wheelers, HCVs and LCVs are the requirement of today.
To prosper in this market, firms are required to deal with this shifting demand along with the price efficient solutions while fulfilling the ecological norms and propel economic pressure. Organizations also require to assess other relevant segments like lubricant segments and fuel segments to assure the feasibility of automotive and transportation sector.
The worldwide economic downturn in year 2009 adversely affected the automotive and transportation sector. This in turn affected the aftermarket industry, which was observed in the slow development of these automotive and transportation markets of USA and Europe. But the enhancements in the gross domestic product across the globe stimulated favorable forecasts for this industry all around the world. The universal automotive and transportation market is benefitted from a big amount of universal vehicles fleet which provide good prospects for substitutes and repairs. A greater use of aftermarket components will prove significant in assisting customers maintain their vehicles for an elongated time.
Automotive original device producers are required to continuously respond to shifting customer demand on the performance of the vehicles. It also incorporates pioneering and reliable technique which supports security and increases fuel efficacy.
The automotive and transportation industry will observe healthy growth and expansion in future. The automotive and transportation market of Asia Pacific zone is predicted to evolve as a market leader in future owing to heavy demand for automotive parts, high industry potential for growth and cost effective production processes in this zone. Further in nations like India and China, original device producers heavily focus on enhancing reliable supply chains to increase their own accomplishment around the industry. In addition to this, the growing significance of electronics equipments and operational incorporation of green parts and sustainable items will further enhance the industrial growth and expansion.
The automotive and transportation market by vehicle type includes different kinds of vehicles like military vehicles, passenger cars, buses, commercial vehicles, heavy trucks, mining vehicles, two wheeled vehicles, specialty vehicles and three wheeled vehicle. The automotive and transportation sector by vehicle kind is led by passenger car vehicles succeeded by commercial car vehicles.
Vehicles running or operating or functioning on gasoline fuel are leading the Asia Pacific Zone while vehicles running on diesel reign supreme in European zone. Vehicles functioning on natural gas, electricity and batteries will gain importance in future due to its cost efficacy. On other hand, the presence of hybrid vehicles is established greater in sub continent of North America, continent of Europe and Japan.
