The global vehicle electrification market share is growing at a CAGR of 10.3% during the forecast period. The vehicle electrification market is expected to grow significantly in the coming years as a result of the preference for electrified vehicles among automotive and automobile manufacturers, as well as the increasing emphasis on environmentally friendly alternatives in …
Category Archives: Automotive Insights
Aircraft Refurbishing Market Poised to Reach US$ 5.4 Billion by 2033 at 5.7% CAGR
A recent market research report by Future Market Insights (FMI) offers insights on the aircraft refurbishing market during forecast period 2023 to 2033. The demand for updating aeroplane interiors has increased significantly in recent years, and this market is expected to grow at a CAGR of 5.7% between 2023 and 2033 as a result. According to …
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Bicycle Components Aftermarket To Reach US$ 28.3 Billion by 2033 at 6.9% CAGR
The Bicycle Components Aftermarket in 2022 was US$ 14 Billion and is estimated to be US$ 14.62 Billion in 2023. According to FMI analysis, the bicycle components aftermarket is projected to expand at a CAGR of 6.9% between 2023 and 2033, totaling around US$ 28.3 Billion by 2033. The surge in demand for bicycle components …
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ASEAN Automotive Aftermarket Gears Up for Steady Growth: Market Poised to Reach US$ 55.53 Billion by 2033 at 8.5% CAGR
The ASEAN automotive aftermarket is expected to expand its roots at a steady CAGR of 8.5% during the forecast period. The market is likely to hold a revenue of US$ 24.56 billion in 2023, while it is anticipated to surpass US$ 55.53 billion by 2033. Automotive aftermarket, as the name suggests, implies secondary market pertaining to the …
Automated Guided Vehicles Market Size To Hit US$ 2.43 Billion by 2033, Driven by 8% CAGR
The Automated Guided Vehicles (AGVs) Market Size is poised to reach a valuation of approximately US$ 1.13 Billion by the year 2023, with a projected increase to about US$ 2.43 Billion by 2033. This growth signifies a significant compound annual growth rate (CAGR) of 8% spanning the period from 2023 to 2033. The escalating utilization …
Robust Expansion: Automotive Tire Market Poised to Reach US$ 958.8 Billion by 2033 at 6.6% CAGR
The automotive tire market is expected to grow at a CAGR of 6.6% from 2023 to 2033. The market is valued at US$ 503.9 Billion as of 2023, and by 2033, the market is expected to hit a valuation of US$ 958.8 Billion. The stringent safety norms pertaining to road are expected to surge the …
EV Battery Heating Systems Market Growth To Reach US$ 17.3 Billion by 2033, Driven by 18.7% CAGR
The global EV battery heating system market is projected to register at a moderate-paced CAGR of 18.7% over the forecast period. The EV battery heating system market is currently valued at US$ 3113.6 Million in 2023. By 2033, demand for EV battery heating systems is expected to reach a high of US$ 17.3 Billion. Thermal …
Global Automotive Performance Parts Market Demand To Reach US$ 532.02 Million by 2032 at a CAGR of 4.6%
The global automotive performance parts market is anticipated to reach a valuation of US$ 532.02 Million by 2032, with sales growing at an average CAGR of 4.6% from 2022 to 2032. As a result of escalating demand for passenger cars, the market for automotive performance parts is likely to reach an estimated US$ 339.32 Million …
Global Fire Truck Market Projected to Reach US$ 8.5 Billion by 2033 at a CAGR of 3.7%
The global fire trucks market is expected to expand at a CAGR of 3.7% in year 2023 to 2033. The overall market value is projected to reach US$ 8.5 Billion by 2033. The demand for fire trucks was around US$ 5,741.6 million in 2022. The rising need for dependable equipment on the vehicle and cutting-edge …
Global Retread Tire Market to Reach US$ 20 Billion by 2033 at 6% CAGR
The global retread tire market is anticipated to reach USD 11.2 billion in 2023 and is expected to be worth USD 20 billion by 2033, trailing a CAGR of 6% during the forecast period. The market is expected to experience significant growth, primarily influenced by the increasing prices of new tires, particularly for sports utility …
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