Credence Research Background Pattern

Industry: Automotive & Transportation

Home » Automotive & Transportation

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 price-efficient solutions while fulfilling the ecological norms and propelling economic pressure. Organizations also require to assess other relevant segments, like lubricant segments and fuel segments, to assure the feasibility of the automotive and transportation sector.

The worldwide economic downturn in the 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 provides good prospects for substitutes and repairs. Greater use of aftermarket components will prove significant in assisting customers to 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 the future. The automotive and transportation market of the Asia Pacific zone is predicted to evolve as a market leader in the 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 accomplishments around the industry. In addition to this, the growing significance of electronic equipment and the operational incorporation of green parts and sustainable items will further enhance 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 vehicles. 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 the European zone. Vehicles functioning on natural gas, electricity, and batteries will gain importance in the future due to its cost efficacy. On the other hand, the presence of hybrid vehicles is established greater in the sub-continent of North America, the continent of Europe, and Japan.

  • Europe Classic Cars Market

    Europe Classic Cars Market

    The Europe Classic Cars Market is projected to grow from USD 11,524.39 million in 2023 to an estimated USD 22,095.01 million by 2032, with a compound annual growth rate (CAGR) of 7.50% from 2024 to 2032.

    Read More

  • North America Classic Cars Market

    North America Classic Cars Market

    The North America Classic Cars Market is projected to grow from USD 17,765.82 million in 2023 to an estimated USD 37,236.92 million by 2032, with a compound annual growth rate (CAGR) of 8.57% from 2024 to 2032.

    Read More

  • Yard Truck Market

    Yard Truck Market

    The yard truck market is projected to grow from USD 743.28 million in 2023 to USD 1,067.11 million by 2032, at a compound annual growth rate (CAGR) of 4.10%.

    Read More

  • Classic Cars Market

    Classic Cars Market

    The global Classic Cars Market is anticipated to grow at a substantial CAGR of 8.7% in the upcoming years. The global Classic Cars industry was estimated to be worth USD 31.1 billion in 2021 and was expected to be worth USD 51.3 billion by 2028.

    Read More

  • Commercial Vehicle Axles Market

    Commercial Vehicle Axles Market

    The Commercial Vehicle Axles Market attained a valuation of USD 25125.2 Million in 2023 and is anticipated to escalate to USD 28222.4 Million by 2032, exhibiting a robust CAGR of 1.30% during the forecast period from 2024 to 2032.

    Read More

  • Automotive Electronics Control Unit Management (ECU/ECM) Market

    Automotive Electronics Control Unit Management (ECU/ECM) Market

    The Automotive Electronics Control Unit Management (ECU/ECM) Market reached a valuation of USD 55142.2 Million in 2023 and is anticipated to rise to USD 101376.7 Million by 2032, indicating a strong CAGR of 7.00% from 2024 to 2032.

    Read More

  • Riding Gear Market

    Riding Gear Market

    The riding gear market is on a steady ascent, poised to reach a projected value of USD 29.4 billion by 2032, a significant increase from USD 19.3 billion in 2023, reflecting a compound annual growth rate (CAGR) of 5.55%.

    Read More

  • Automatic Number Plate Recognition (ANPR) System Market

    Automatic Number Plate Recognition (ANPR) System Market

    The global market for automatic number plate recognition (ANPR) systems is expected to develop at a compound annual growth rate (CAGR) of 7.90% between 2024 and 2032, from its estimated USD 2681.2 million in 2023 to USD 5315.23 million in 2032.

    Read More

  • Automotive Sensor Cleaning Systems Market

    Automotive Sensor Cleaning Systems Market

    The Automotive Sensor Cleaning Systems Market is projected to witness significant growth, with its value expected to surge from USD 4.5 Billion in 2022 to USD 6.12 Billion by 2032, representing a compound annual growth rate of 4.50%.

    Read More

  • Off-Highway Vehicle Engine Market

    Off-Highway Vehicle Engine Market

    The Off-Highway Vehicle Engine market is projected to surge from USD 38,984.96 million in 2024 to USD 64,036.87 million by 2032, marking a notable growth rate of 6.40%.

    Read More