The electric light commercial vehicle market was valued at around US$ 173 billion in 2019. In the following five years, sales of electric light commercial vehicles surged at a 12% CAGR and reached US$ 271.9 billion by 2023. The demand for electric light commercial vehicles is expected to be valued at 303.2 billion in 2024. …
Category Archives: Automotive Insights
Bicycle Tires Market Poised to Reach US$ 14.6 Billion by 2033
According to the latest report by Future Market Insights, the bicycle tires market is projected to witness substantial growth, with a Compound Annual Growth Rate (CAGR) of 6.4% from 2023 to 2033. The market is expected to achieve a valuation of US$ 7.8 billion in 2023, and by the year 2033, sales of bicycle tires …
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Europe Trolley Bus Market Charges Forward: To Reach US$ 999.1 Million by 2033
As per the latest report from Future Market Insights (FMI), the Europe Trolley Bus Market is projected to reach a valuation of US$ 999.1 million by the year 2033. The market is anticipated to grow at a moderate CAGR of 2.7% during the forecast period. By 2023, the market is expected to achieve a significant …
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Demand for Customization Fuels Decorative Car Accessories Market Growth (Market Poised to Reach US$ 443.9 Billion by 2033)
In 2023, the global decorative car accessories market is estimated to worth US$ 252,595.1 million. The market is expected to reach US$ 443.9 Billion by 2033, with a CAGR of 5.8% from 2023 to 2033. The decorative car accessories industry is driven by several key factors contributing to its growth and popularity among car owners. …
Automotive Performance Accessories Market: Trends, Drivers, and Growth Projections
In 2023, the Automotive Performance Accessories Market is expected to be worth US$ 352.9 million. The market is expected to reach US$ 546.4 million by 2033, expanding at a 4.5% CAGR throughout the forecast period. Automotive performance accessories play a crucial role in enhancing the overall performance, aesthetics and handling of vehicles. These accessories consist …
Automotive Piston System Market Reaching US$ 6,415.14 Million by 2032
The global automotive piston system market is anticipated to propel at a phenomenal CAGR of 4.6% from 2022 to 2032. The global market was evaluated at US$ 4,080.95 Million in 2022 and is poised to reach US$ 6,415.14 Million by 2032. As per the historic analysis conducted by Future Market Insights, the global automotive piston …
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Automotive Sensors Market Set to Reach US$ 44 Billion by 2033, With an 8.6% CAGR
The global automotive sensors market is projected to attain a valuation of US$ 19.2 billion in 2023 and is estimated to reach US$ 44 billion by 2033, expected to incline at a CAGR of 8.6% during the forecast period. In recent times, the global automotive sensors market has experienced significant growth. The increased adoption of …
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Bicycle Components Aftermarket Reaching US$ 28.3 Billion by 2033 with a 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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Low Rolling Resistance Tire Market to Reach US$ 54 Billion by 2033
The global low rolling resistance tire market is estimated to attain a valuation of US$ 18.4 billion in 2023 and is expected to reach US$ 54 billion by 2033, expected to incline at a CAGR of 11.3% during the forecast period. The automotive sector’s rapid growth has resulted in a surge in the number of …
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Automotive Lighting Market Size Expected to Reach US$ 69 Billion by 2033, with a 6.4% CAGR
The global automotive lighting market is anticipated to attain a valuation of US$ 37.1 billion in 2023 and is predicted to reach US$ 69 billion by 2033, trailing a CAGR of 6.4% during the forecast period. Stringent lighting regulations have propelled developed countries to focus on the vehicle lighting industry in Europe and North America. …