Low Rolling Resistance Tire Market The low rolling resistance tire market is poised for substantial growth, with forecasts predicting it will reach USD 54 billion by 2033, driven by a strong compound annual growth rate (CAGR) of 11.3%. This expansion is largely attributed to the rising demand for fuel-efficient vehicles and the increasing focus on reducing carbon emissions. Low rolling …
Category Archives: Automotive Insights
Automotive Tire Market Forecast: Projected to Reach USD 928.3 Billion by 2033, Growing at a 6.6% CAGR | FMI Reports
Automotive Tire Market The automotive tire market is projected to grow at a CAGR of 6.6% from 2023 to 2033, reaching a valuation of USD 928.3 billion by 2033, up from USD 503.9 billion in 2023. This dynamic and rapidly evolving industry is driven by advancements in vehicle technology, changing consumer preferences, and increasing regulatory demands for safety and environmental sustainability. Recent trends …
Future Outlook: Plain Bearing Market Projected to Reach USD 20,850.8 Million by 2033 with a 5.7% CAGR | FMI Insights
Plain Bearing Market The plain bearing market is anticipated to achieve a valuation of USD 12,019.3 million in 2023, with projections indicating it will reach USD 20,850.8 million by 2033. This represents a compound annual growth rate (CAGR) of 5.7% over the forecast period. Prominent Sectors in the Global Market Several end-use industries drive the demand for plain bearings, including automotive, construction, aerospace, …
Compact Loader Market Forecast: Expected to Reach USD 7,092.50 Million by 2034, Growing at a 3.1% CAGR | FMI Reports
Compact Loader Market The global compact loader market size is poised for significant growth, reaching USD 5,226.52 million in 2024. The demand for compact loaders is expected to witness a slow CAGR of 3.1% from 2024 to 2034. By 2034, the compact loader industry is anticipated to attain a valuation of USD 7,092.50 million. The rising demand for vertical lift compact loaders and …
Automotive Turbocharger Market Set to Hit USD 41.5 Billion by 2033, Growing at a 9.6% CAGR | FMI Reports
Automotive Turbocharger Market The global automotive turbocharger market is projected to reach USD 16.6 billion in 2023 and is expected to grow to USD 41.5 billion by 2033, with an anticipated CAGR of 9.6% throughout the forecast period. Turbochargers enhance engine efficiency by compressing intake air, improving combustion and power production. This is especially crucial as governments worldwide enforce stringent emission standards, encouraging …
Electric Cargo Bike Market Poised to Surpass USD 6.2 Billion by 2033, with a 11.4% CAGR | FMI Reports
Electric Cargo Bike Market The global electric cargo bike market is projected to grow from USD 2.1 billion in 2023 to USD 6.2 billion by 2033, reflecting a compound annual growth rate (CAGR) of 11.4% over the forecast period. This growth is largely driven by the surge in e-commerce, which has heightened the demand for efficient last-mile delivery solutions. Electric cargo bikes are …
Ship Repair and Maintenance Service Market to Reach USD 53,375.69 Million by 2034, Growing at a 6.6% CAGR | FMI Reports
Ship Repair and Maintenance Service Market The ship repair and maintenance service market is projected to be valued at USD 28,169.45 million in 2024. With a moderate CAGR of 6.6% from 2024 to 2034, the global market is expected to reach USD 53,375.69 million by 2034. The expanding manufacturing industry and increased industrialization have led to higher consumption of logistics services, including ship-based …
Automotive Lighting Market Set to Hit USD 69 Billion by 2033, Growing at a CAGR of 6.4% | FMI Reports
Automotive Lighting Market The global automotive lighting market is anticipated to reach a valuation of USD 37.1 billion in 2023 and is projected to grow to USD 69 billion by 2033, reflecting a CAGR of 6.4% during the forecast period. The automotive lighting market encompasses the manufacturing, distribution, and installation of lighting systems for various vehicles, including cars, trucks, motorcycles, and buses. These …
Plug-in Hybrid Electric Vehicle (PHEV) Market to Reach USD 1,86,450.62 Million by 2034, with a CAGR of 17.9% | FMI Reports
In the latest edition of the report by Future Market Insights, the plug-in hybrid electric vehicle (PHEV) market is anticipated to achieve a valuation of USD 35,927.40 million by 2024. This upward trend is expected to continue, with the market projected to reach an impressive USD 186,450.62 million by 2034, reflecting a robust compound annual …
Real-Time Parking System Market to Surge with 8.9% CAGR, Projected to Exceed USD 96.4 Billion by 2032 | FMI Reports
The global real-time parking system market is expected to grow at an impressive compound annual growth rate (CAGR) of 8.9% from 2022 to 2032. Valued at USD 40,523.3 million in 2022, the market is projected to surpass USD 96,406.7 million by the end of 2032. This growth is largely driven by increasing traffic congestion, which …