Market Research Blog

The 21st century can be considered an age of customization and individualization as customers seek to be different and aspire to own products that perfectly fit into their discerning lifestyles. Automotive OEM’s have taken cognizance of this and have begun to experiment with different types of automotive interior lighting systems. Future Market Insights has conducted an exhaustive study of the ‘Automotive Interior Ambient Lighting Systems Market: Global Industry Analysis 2012-2016 And Opportunity Assessment 2017-2027’ in its recently released report.

The automotive interior ambient lighting systems market is on track to witness a robust CAGR of 5.4% from 2017 to 2027.automotive interior ambient lighting systems came to ~2.7 million units in 2018, comparing the incomes worth US$ 28 Bn. As eco-friendliness, low outflow, and elite execution can presently don’t get the job done the advancing vehicle determination standards of shoppers, automakers keep on confronting tension of carrying out multi-layered methodologies, covering solace, style, and feel.

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The investigation discovers that makers are being circumspect of the way that inside surrounding lighting can be made ‘useful’ by impacting the state of mind, circadian rhythms, and readiness of drivers, along these lines upgrading the night-driving security and enthusiasm for vehicles.

OLED to Illuminate the Road Ahead

Advancement is probably going to come thick by quick supplanting the glowing lights with the entrance of LED innovation for the improvement of automotive interior ambient lighting systems. The investigation discovers that the reception pace of LED-based lighting frameworks will go about as a vital differentiator since they burn-through generously lesser energy than radiant and incandescent lamps of comparable splendor and defer the effect of time. As car industry works inside the restricted limits of guidelines, naturally harmless OLED lights will enlighten the fate of the automotive interior ambient lighting systems market.

The investigation discovers that later on, the choices will turn more complex with the surfacing of independent vehicles and IoT innovation to maintain the focal point of drivers flawless. Also, issues of force disappointment experienced with the joining of wired lightings have been prompting the advancement of battery-worked remote lighting frameworks, which is probably going to stay all around valued by mechanically side by side buyers. As automakers focus on the advancement of inside encompassing lighting frameworks by keeping customers at the middle, combination of motion acknowledgment surrounding lighting frameworks is expected to make an appealing relational word.

In the merged scene, automakers are propped to tune the opposition recurrence to a higher level by focusing on purchasers’ proclivity for premium and outwardly engaging vehicles. Producers center around advancing their development ability by mixing the best of the capabilities for upgrading the highlights of inside surrounding lighting frameworks. Notwithstanding, as quality includes some significant pitfalls, forgers working in the automotive interior ambient lighting systems scene track down the room to offer inferior quality frameworks at a less expensive rate. The patterns have particularly been seen in the agricultural nations of East Asia and South Asia, which is a urgent worry for automakers to address and overcome any barrier to contact more customers with real lighting frameworks.

The report believes that on the scenery of ecological speculation took on via automakers, coming of electro-portability will lead the development to high deals openings. What’s more, as shoppers gain astuteness regarding the security elements of automotive interior ambient lighting systems, the eventual fate of vehicles is probably going to stand tall at the convergence point of feel and wellbeing.

 

Future demands for automotive engine valves will be firmly driven by trends such as reduction in exhaust emissions and oil consumption, declining sulphur content in diesel fuel, and phasing out of leaded petrol. Such factors may create implications in production and design of automotive engine valves. Leading automakers will also seek newer materials for manufacturing engine valves with higher durability and greater sustenance to heat. With increasing adoption of alternative fuels, future requirements of automotive engine performance will change the dynamics of valve manufacturing.

An exclusive forecast report published by Future Market Insights anticipates that the global automotive engine valves market will soar at a steady CAGR of 5.2% during the forecast period, 2017-2022. The report also assesses that automotive engine valves worth over US$ 6.2 billion will be sold globally by the end of 2022. The steady demand for automotive engine valves will be factored by their essentiality in proper functioning of automobile engines, and their influence in enhancing the vehicle’s performance under diverse conditions.

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Although, hollow valves will register a below-average demand over the next five years

While the overall sales of automotive engine valves will be incurring a steady demand through 2022, the demand for hollow valves is likely to dwindle. Compared to bimetallic and monometallic valves, hollow valves will be garnering low uptake owing to their conventional drawbacks. Tests show that performance of engines equipped with hollow valves gets lowered when hollow valve stems absorb more heat than threshold. The tendency of hollow valves to overheat and burn in the absence of adequate cooling continues to factor their declining demand. Over the forecast period, hollow valves are anticipated to reflect a subpar CAGR of 4.7%, indicating a moderate growth in demand.

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Market Taxonomy

A concise taxonomy of the global automotive engine valve market has been summarized in the table below:

Region

• North America
• Latin America
• Europe
• Japan
• APEJ
• MEA

Product Type

• Mono metallic valves
• Bimetallic valves
• Hollow valves
• Others

Vehicle Type

• Compact Passenger Cars
• Mid-sized Passenger Cars
• Premium Passenger Cars
• Luxury Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles

Material Type

• Steel
• Titanium
• Nickel Alloy
• Other Materials

Sales Channel

• OEM
• Aftermarket

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Key insights offered in the report

• In 2017, monometallic valves being sold in the global market will reap over US$ 1.5 billion in revenues
• Compact passenger cars will be observed as a leading vehicle segment in the market, followed by mid-sized passenger cars and light commercial vehicles
• Titanium materials are forecasted to incur sluggish CAGR through 2022
• By 2022-end, aftermarket sales of automotive engine valves will bring in revenues worth over US$ 5 billion, globally

In 2017, Europe is poised to procure nearly one-fourth share of global revenues. The report also projects that the Asia-Pacific excluding Japan (APEJ) region will be the largest market for automotive engine valves. By the end of 2022, the APEJ automotive engine valve market is anticipated to reach a value of US$ 2.2 billion. North America’s automotive engine valve market is also expected to soar at a steady CAGR, while sales of automotive engine valves in Japan will reflect a moderate growth.

Changing landscapes of automobile engineering will continue to foment considerable alterations in the manufacturing of automotive engine valves. New designs will be reviewed and tested, while conventional valves will be upgraded for boosting their performance abilities. The report observes that companies namely, Knorr-Bremse AG, FTE automotive GmbH, Hitachi Ltd., FUJI OOZX Inc., Mahle Group, Eaton Corporation Plc., Federal-Mogul Holdings Corp., Denso Corporation, Continental AG, and Delphi Automotive PLC will remain active in expansion of the global automotive engine valve market through 2022. These companies are anticipated to capture new materials and innovative production techniques to insure the valves from their existing defects.

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Witnessing a prominent boost from the demand for high-speed racing cars, the global automotive brake valve market is set for a promising CAGR during 2022 – 2027. The sales of automotive brake valves will witness an uptick with the growing stringency of regulations to mandate anti-lock braking system (ABS) fitment in passenger cars and commercial vehicles, says a new study of Future Market Insights (FMI). Increasing sales of integrated electronic braking systems and electrohydraulic brake valves in automotive brake systems would elevate market prospects in the following years. Towards the end of forecast period, global sales of automotive brake valves are foreseen to reach in excess of US$ 8 Bn. The sales of automotive brake valves will witness an uptick with the growing stringency of regulations to mandate anti-lock braking system (ABS) fitment in passenger cars and commercial vehicles, says a new study of Future Market Insights (FMI). Increasing sales of integrated electronic braking systems and electrohydraulic brake valves in automotive brake systems would elevate market prospects in the following years. Towards the end of forecast period, global sales of automotive brake valves are foreseen to reach in excess of US$ 8 Bn.

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Automotive Brake Valve Market – Key Takeaways

• Introduction and adoption of advanced vehicle security systems in passenger cars and commercial vehicles is a key factor identified to drive automotive brake valve market growth. ABS installation is projected to gather significant momentum for on-road as well as off-road vehicle fleet, over the forecast period.
• Increasing installation of ABS in all classes of passenger cars as well as commercial vehicles is augmenting demand for automotive brake valves.
• Moreover, use of advanced braking systems in high-speed racing cars that are subject to wear and tear is also expected to play a vital role in bolstering demand for automotive brake valves.
• In most cases, brake valves are procured by brake system manufacturers or assemblers. These are then fitted in brake systems of passenger cars and commercial vehicles. Efficient and proper value chain will further augment the growth of automotive brake valve market.
• Integration of electronics in brake systems and use of advanced technologies such as EBD, SSR, ESP, traction control and brake assist (BA) in ABS, further enhance the overall efficiency of vehicles, in turn, reducing the fitment of conventional brake valves. However, combinational and proportional brake valves are still used along with ABS to maintain tractive contact with the road.
• In case ABS fails or dysfunctions, vehicle’s regular braking system that comprises of combinational brake valves and proportional brake valves control braking activities of the vehicle. Moreover, in many newer vehicles valve assembly can get replaced separately from the ABS control module, thereby increasing opportunities in the aftermarket segment.

Considerably fair shelf life, and thus, low replacement rate of automotive brake valves will remain among the key factors limiting growth of the global market to a large extent, throughout forecast period.

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Automotive Brake Valve Market to Grow in Parallel with ABS Production

The global automotive brake valve market is estimated to witness decent growth over the forecast period. Rapidly growing automotive industry, especially production and sales of sports cars, is substantially boosting demand for automotive brake valves. East Asia will retain its dominance in the global automotive brake valve market owing to comparatively higher vehicle fleet, followed by South Asia and North America.

Who Is Winning?

Automotive brake valve market is identified to be consolidated, comprising of market players such as Wabtec Corporation, Master Power Brakes, and Parker Hannifin Corp. Market players forming supply contracts with local and regional automotive ancillaries are expected to drive market growth. Furthermore, tie-ups between ABS and brake valve manufacturers are fueling automotive brake valve market growth. Moreover, continual dependency of local automotive OEMs on aftermarket sales will surge demand for automotive brake valves during the forecast period.

AUTOMOTIVE BRAKE VALVES MARKET TAXONOMY

The global automotive brake valve market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.

Product

• Combination Valves
• Quick Release Valves
• Metering Valves
• ABS Modulator Valves
• Foot & Hand Brake Valves
• Parking Brake Valves
• Emergency Valves
• Check Valves
• Spring Valves
• Proportional Valves

Vehicle

• Compact Cars
• Mid-sized
• Luxury Cars
• SUVs
• HCVs
• LCVs

Material

• Steel
• Copper
• Brass
• Alloy

Sales Channel

• OEMs
• Aftermarket

Region

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Middle East & Africa

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Report at Glance

The global automotive brake valves market report offers noteworthy insights and analysis for the forecast period of 2019-2027. The report includes macroeconomic factors, regional pricing analysis, market dynamics, value chain analysis, market value and volume analysis, emerging market trends, important stakeholders, list of manufacturers and distributors, industry roadmap for last five years, channel partners, and strategies deployed by market players to gain a competitive edge.

The global market for automotive microcontrollers has been projected to exhibit a staggering 13.7% CAGR during 2017 to 2022, according to a latest research by Future Market Insights (FMI). The global automotive microcontrollers market is estimated to surpass US$ 1,500 Mn in revenues by 2022-end.

Utilisation of Microchips to Enhance Flexibility and Improve Connectivity in Vehicles – A Major Trend

One of the major trends witnessed in the global market for automotive microcontrollers is utilisation of microchips for improving connectivity of vehicles with their moving systems, and for enhancing the vehicle’s flexibility. Automobile manufacturers have utilised microcontrollers for a variety of requirements such as engine control, antilock brakes, power steering, and seating. An automotive microcontroller helps in increasing speed of execution, enables automatic control sensing, and enhances safety features including air bag control and high temperature control. Currently, they are being used in sophisticated safety features, which include blind spot detection, automated braking & lighting, surround view cameras, lane change warning, and advanced driver assistance systems (ADAS).

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Microcontrollers are also being deployed in infotainment systems, and provide connectivity to vehicle network. Popularity of hybrid electric vehicles has witnessed a surge owing to their energy efficiency. Hybrid electric vehicles need comparatively large number of microcontrollers than conventional vehicles. With modernisation of vehicles, number of microcontrollers required for vehicles has increased. Although cost of microcontrollers has remained lower over the recent past, the tags for microcontrollers are expected to witness a gradual rise over the next few years. This is expected to lead to an increased cost of vehicles. Moreover, integration of microcontroller has always remained a challenging task for automobile manufacturers, on the back of their complex design.

Key Research Findings from FMI’s Report on Global Automotive Microcontrollers Market
• In terms of revenues, although North America is expected to remain largest market for microcontrollers in 2017, Asia-Pacific excluding Japan (APEJ) will be the most lucrative region for automotive microcontrollers market by 2022-end. The convergence of transportation, automotive, and ICT sectors has increased demand for technologically advanced vehicles in APEJ, further resulting into advent of advanced vehicle ecosystem. The already imposed and impending safety regulations are expected to spur installation of the automotive safety technologies in vehicles across APEJ. In addition, introduction of driving assistance technologies has incentivised OEMs for opting efficient microcontrollers.
• In terms of revenues, heavy commercial vehicles are expected to remain the most attractive in the market, based on vehicle type. In addition, premium passenger cars will also remain a lucrative vehicle type segment in the market over the forecast period. This is primarily attributed to rise in installation of advanced safety features in premium passenger cars, particularly across developed economies. Moreover, safety regulations and mandates have compelled OEMs to produce premium passenger cars featuring advanced technologies, thereby propelling demand for microcontrollers.
• On the basis of application, sales of automotive microcontrollers in ADAS and functional safety technology are expected to register similar CAGRs through 2022. ADAS application of automotive microcontrollers will remain comparatively more lucrative than functional safety technology. Brake control system will continue to be the most lucrative application of automotive microcontrollers.
• By material type, sales of copper alloy for automotive microcontrollers are expected to exhibit the highest CAGR through 2022. Tinned steel will remain sought-after among materials in the global automotive microcontrollers market, with sales estimated to reach approximately US$ 600 Mn by 2022-end.

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Market Taxonomy
Region
• North America
• Latin America
• Europe
• Japan
• APEJ
• MEA
Material Type
• Tinned Steel
• Nickel-Cobalt Ferrous Alloy
• Copper Alloy
Vehicle Type
• Compact Passenger Cars
• Mid-sized Passenger Cars
• Premium Passenger Cars
• Luxury Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
• Electric vehicle
Application
• Advanced Driver Assistance System
• Parking Assist System
• Brake control system
• Electric Control Suspension
• Airbags
• Functional Safety Technology
• Transmission Control
• Start-Stop System
• Electronic Power Steering System
• Others

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FMI’s report has profiled key players, who are actively contributing to growth of the global automotive microcontrollers market, which include Toshiba Corporation, Infineon Technologies, Maxim Integrated Products, Inc., Fujitsu Limited, Silicon Labs Private Limited, Renesas Electronics Corporation, Microchip Technology Inc., STMicroelectronics NV, NXP Semiconductors NV, and Texas Instruments Incorporated.

Top Reports Related To Automotive Market Insights

Aircraft Cabin Interior Market : According to Future Market Insight’s (FMI), the global aircraft cabin interior market is forecast to grow at 2.70% in 2021, overcoming the uncertainty about market recovery and performance during a global pandemic. FMI also predicts that the aircraft cabin interior market will exceed the overall market valuation of US$ 14.5 Bn by the end of 2021.

Electric Scooters Market : Growing environmental concerns, coupled with demand for reduced costs of commute, easy commutation, and emission control are primary factors encouraging the adoption of electronic vehicles across the world. These factors also will enable the electric scooters sales to total US$ 8.8 Bn in 2021.

About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Contact
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As per Future Market Insights (FMI), the global market for automated guided vehicle (AGV) is anticipated to grow at a CAGR of 7.9% over the forecast period 2021-2031, totaling US$ 996 Mn in 2021. Despite challenges imposed by the outbreak of COVID-19 pandemic, the market registered 5.4% year-on-year growth in 2021.

Benefits offered by AGV such as reduced labor cost, increased productivity, and reduction in risk of product damage while transporting goods or raw materials within industries are propelling growth of the market. Considering this, the market is likely to gain momentum as transportation and logistics firms deploy AGVs to boost operational efficiency.

The market will continue gaining from the increasing scope for applications in manufacturing, logistics, food & beverage and healthcare industries. Also, increasing industrialization across the globe is pushing demand for automated guided vehicles in oil & gas, transportation, and construction industry. This in turn is expected to shape the sales outlook of the market during the assessment period.

The ability of AGVs to operate in harsh climatic conditions is providing tailwinds to the growth of the market. Spurred by expansion of e-commerce sector, the demand for automated guided vehicle is forecast to increase significantly over the forthcoming years.

Among various technologies, AGVs are integrated with laser guidance technology, which has made them highly sought-after among diverse industries for transportation of raw materials. The demand can be attributed to security, flexibility and reliability, and precise navigation ascertained by automated guided vehicles.

Growth prospects are likely to remain positive in the U.S. market, driven by improved investment in research and development, particularly in the field of robotics and automation.

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“With increasing urbanization and expansion of key industries including construction, logistics, and automotive, AGV sales are soaring. Demand will increase in response to the integration of artificial intelligence, robotics, and machine learning in AGVs over the coming years,” said a FMI analyst.

Key Takeaways from Automated Guided Vehicle Survey

• Backed by robust presence of various consumer-centric industries, the U.S. market is anticipated to grow at a healthy CAGR of 5.4% by the end of 2031.
• The U.K. is leading the market for automated guided vehicle in Europe and is projected to expand at 6.8% CAGR over the forecast period 2021-2031.
• Demand outlook for China remains positive due to increasing technological advancements taking place in the automotive sector.
• Spurred by e-commerce expansion, India market is forecast to grow at a steady pace over the assessment period 2021-2031.
• Japan and South Korea, collectively, will account for over 12.3% of the total market share in 2021.

Key Drivers

• Increasing adoption of automation in numerous industries is boosting growth of the automated guided vehicle market.
• The growing demand for AGVs within consumer goods, automotive, food & beverage, oil & gas, and healthcare sectors will propel growth opportunities in the country.

Key Restraints

• High maintenance cost associated with automated guided vehicle is expected to hamper market sales.
• High initial investment required for set up may restrict the market growth.

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Competitive Landscape

Automated guided vehicle manufacturers are focusing on new expansion strategies along with acquisitions and partnerships to gain a strong foothold in the market.

For instance, in 2018, Murata Machinery, Ltd announced the acquisition of AGVE AB, a leading automated guided vehicle manufacturing company. This acquisition of AGVE completely aligns with Murata’s strategy focused on enhancing material handling equipment market segment.

In 2021, Daifuku Co,. Ltd and Germany-based AFT Industries announced a business partnership aimed at leveraging the material handling competency of both companies in the automotive industry.

Some of the leading players operating in the automated guided vehicle market profiled by FMI are:

• JBT Corporation
• Kuka AG,
• Daifuku Co., Ltd.
• Kion Group AG
• Omron Adept Technologies, INC.
• AGVE Group, Inc.
• Murata Machinery
• Transbotics Corporation
• Oceaneering International Inc.
• Seegrid Corporation
• Murata Machinery
• SSI Schaefer
• AVT Europe NV
• Cassioli Srl
• Toyota Industries Corporation
• Robotnik
• Kollmorgen
• E&K Automation GMBH
• BEUMER Group GmbH & Co. KG
• Mecalux, S.A
• Bastian Solutions, Inc.

More Valuable Insights on Automated Guided Vehicles Market

FMI, in its new report, offers an unbiased analysis of the global automated guided vehicle market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections for automated guided vehicle market with detailed segmentation:

By Technology Type:

• Laser Guidance
• Magnetic Guidance
• Infrared Guidance
• Wire Guidance
• Inertial Guided
• Optical Guided

By Application Type:

• Transportation
• Distribution
• Storage

By Vehicle Type:

• Unit Load Carrier
• Pallet Truck
• Assembly Line Vehicle
• Tow Vehicle
• Forklift Truck
• Light Load Transporters

By End Use:

• Logistics
• Healthcare
• Automotive
• Manufacturing
• Food & Beverages
• Aerospace

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• APEJ
• Japan
• MEA

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Key Questions Covered in the Automated Guided Vehicle Market Report 

• The market survey also highlights projected sales growth for automated guided vehicle market between 2021 and 2031
• The report offers insight into automated guided vehicle demand outlook for forecast period 2021-2031.
• Automated guided vehicle market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
• Automated guided vehicle market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry

According to ESOMAR-certified Future Market Insights’ (FMI), demand for automotive tire is expected to rise considerably, enabling the automotive tire market to grow at 6.0% CAGR throughout the forecast period between 2021 and 2031.

Newly released data by Future Market Insights predicts the global automotive tire market to reach US$ 366,092 Mn in 2021. Despite stifled growth amid COVID-19 outbreak, the market is likely to recover, showcasing 5.6% year-on-year growth in 2021.

The radial tire sales is projected to surpass US$ 550 Bn between 2021 and 2031. Bridgestone, Michelin, Goodyear, Continental, and Pirelli are the leading market players and they are expected to collectively account for nearly 48% of global automotive tire market in 2021.

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With the dawn of new phase of industrialization “Industry 4.0”, spike in sales of lightweight and commercial vehicles is observed. Rising per capita income and improvement in standard of living have led to increase in sale of passenger cars and two wheelers.

Increasing trading activities have fueled the demand for high performance automotive tires for light and heavy commercial vehicles. These factors will drive the sales of automotive tires during the forecast period.

Increasing sales of electric vehicles and increasing efforts to reduce the carbon emission by developing low resistance tires with superior grip will boost the automotive tire market growth over the assessment period.

Some of the market players are developing green tires, which are manufactured using dispersible silica. These green tires offer superior wet grip and enhance vehicle stability and safety. The lightweight nature, low fuel consumption due to reduced rolling resistance, and high durability haves made green tires highly sought-after in the automotive industry.

Pandemic has led to closure of manufacturing facilities and slump in sales of automotives in 2020. Limited driving led to reduction in tire replacement and new tires sales which negatively influenced the market growth.

However the market is expected to recover post lockdown as people are switching to digital platform to ensure social distancing and limit the infection transmission. Through digital platform, the companies are able to provide doorstep tire replacement services with no hassle. These services are expected to provide a positive impetus for the growth of the automotive tire market post pandemic to 2031.

Key Takeaways from FMI’s Automotive Tire Market Study
• North America market is anticipated to grow at 5.9% CAGR backed by increasing consumer spending on comfortable and more durable tires and rising sales of electric vehicles in U.S. and Canada.
• Europe is expected to lead the automotive tire market, showcasing growth at 6.2% CAGR in 2021. The growth can be attributed to rise in passenger car production rate, presence of leading original equipment manufacturers, and high demand of custom tires by automakers in the region.
• Soaring popularity of retread tires and rising partnerships between automakers and tire manufacturers to cater the consumer need will bolster growth opportunities.
• Japan and South Korea will collectively account for around 12% of the global market share in 2021.
• Radial automotive tires sales will soar as they offer high heat dissipation rate and long life. The radial automotive tire segment is expected to surpass US$ 550 Bn in terms of value by the end of 2031.

“Increasing sales of electric vehicles along with increasing research activities aimed at reducing carbon emission by lowering the rolling resistance will drive the market growth in forthcoming years,” says the FMI analyst.

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Competitive Landscape
As per FMI, Bridgestone, Michelin, Goodyear, Continental, and Pirelli dominate the automotive tire market, collectively accounting for 48% of total market share in 2021.

Leading market players are focusing on developing new tires as per the changing market dynamics and customer demands. They are also looking to capitalize on the high revenue opportunities offered by developing nations by setting up manufacturing plants in these countries.

For instance, in June 2021, Michelin launched its new “MICHELIN X^® MULTI GRIP™” truck tires developed for high performance in extreme winter condition. The tire offers superior grip, safety in extreme cold and wet roads with elevated mileage thus paving way for more sustainable transport system.

Michelin also launched “MICHELIN X AGVEV” tire especially designed for automatic guided vehicles (AGV) operating in ports. MICHELIN X AGVEV is first of its kind tire engineered for electric vehicles requirements to improve performance, reliability, productivity, and safety of AGV. It has very low rolling resistance thus reducing machine emission and improve battery life of the electric vehicle.

Prominent players operating in the automotive tire market are:-
• Continental AG
• Bridgestone Corp.
• Michelin
• Goodyear Tire And Rubber Company
• Pirelli & C. S.P.A
• Yokohama Rubber Company Limited
• Cheng Shin Rubber Industries
• Sumitomo Rubber Industries Ltd.
• Toyo Tire & Rubber Company
• Trelleborg AB
• Cooper Tire & Rubber Company
• Hankook Tire
• Madras Rubber Factory Limited
• Kumho Tire Co. Inc.
• Apollo Tyres Ltd
• Sailun Tires Ltd
• Shandong Linglong Tyre
• Nokian Renkaat Ojy
• Titan Tire Corporation
• Nexen Tire America Inc

Automotive Tire Market by Category
By Vehicle Type:
• 2/3 Wheeler
• <18”
• >=18”
• Passenger Vehicle
• <=15”
• 16”-19”
• >=20”
• Commercial Vehicle
• Light Commercial Vehicle
• <=15”
• 16”-19”
• >=20”
• Heavy Commercial Vehicle
• <=20”
• 21”-24”
• >=24”
• specialty Vehicle

By Tire Structure:
• Radial
• Tube
• Tubeless
• Bias
By Sales Channel:
• OEM
• Aftermarket
By Region:
• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific excluding Japan (APEJ)
• Japan
• Middle East and Africa (MEA)

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Key Points Covered in Automotive tire Market Study
• Market estimates and forecast 2015-2031
• Key drivers and restraints impacting market growth
• Segment-wise, Country-wise, and Region-wise Analysis
• Competition Mapping and Benchmarking
• Brand share and Market Share Analysis
• Key Product Innovations and Regulatory Climate
• COVID-19 Impact on Automotive Tire Market and How to Navigate
• Recommendation on Key Winning Strategies

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Golf Cart Market : Increasing urbanization and inclination towards the environment friendly options are key factors driving market of golf cart. As per a Future Market Insights (FMI) analysis, the global golf cart market is estimated to be valued at ~US$ 2.59 Bn in 2021, expanding at a CAGR of ~4.3% during the forecast period from 2021 to 2031. While the COVID-19 outbreak hampered sales to an extent, the market is likely to recover 2021 onwards.

Automotive Interior Leather Market : Globalization of the automobile industry and rising demand for automotive interior customization are expected to remain chief driving factors of the global automotive interior leather market. According to Future Market Insights (FMI), the global automotive interior leather market is estimated to be valued at ~US$ 29.9 Bn in 2021.

About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

The automotive steering system market is witnessing high demand due to the easy availability and low cost of Column-Electric Power Steering systems (C-EPS) in automobiles. The growing demand for their use in small or compact cars is likely to influence the growth of the market in a positive manner during the forecast period ending in 2030. The increase in vehicle production, both passenger cars and heavy vehicles as a part of transport fleets, as they are an important component in automobiles, and is  a standard in all vehicles, the growth in global automotive production is proportionately driving the growth of the automotive steering system market.

Overview of the Global Automotive Steering System Market

According to a new study published by Future Market Insights on the global automotive steering system market will record a steady growth during the forecast period ending in 2030. The report includes crucial data and information about the latest goings on in the automotive steering system market and the latest happenings with the various stakeholders like suppliers, manufacturers, and distributors. It also provides data and analytics on the impact of the various factors that have an influence on the growth of automotive steering system market. Leading players and stakeholders can plan the right strategies for business growth and competitive advantage in the global automotive steering system landscape.

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Segmentation of the Automotive Steering System Market

The report on the evolution of the global automotive steering system landscape starts with an executive summary and a definition, which give an overview of the market itself. This is followed by a careful analysis of the drivers, opportunities, as well as restraints which are set to impact the growth and development of the automotive steering system market. The information provided in this section can be used to take well informed decisions that boost the performance of the player in the market. This report also contains details of the notable developments of the players in the global automotive steering system landscape, including company overview, major collaborations, mergers, and company sizes.

This report by FMI also contains data and analytics of the market on the basis of technology, vehicle type and region. It discusses the growth of the global landscape and a detailed analysis of the regional markets in Asia Pacific Excluding Japan, Japan, North America, Eastern Europe, Western Europe and Middle East and Africa.

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Global Automotive Steering System Market: Vendor Insights

The report has included some of the key players operating in the global automotive steering system market such as JTEKT Corporation, Nexteer Automotive Group Ltd., Showa Corp., ThyssenKrupp AG, Hitachi Automotive System Ltd., Sona Koyo Steering System Ltd., Robert Bosch GmbH, NSK Steering System Co. ltd., Mando Corp., ZF Friedrichshafen AG, Magal Engineering Limited, ATS Automation Tooling System Inc. and Hyundai Mobis. Tie-ups with vehicle manufacturers ahead of new model launch, attractive price offering & system upgrades through strategic partnerships and adopting market specific designs to gain competitive advantage remains key differentiating strategies of these key players.

Table Of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply Side Trends

1.4. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Key Market Trends
4. Key Success Factors

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About FMI

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Increasing use of advanced technology, such as sensors and traction control systems is boding well for the growth of the global automotive steering system market. However, according to an FMI study, the COVID-19 pandemic continues to obstruct automotive production activities, worldwide, as some of the most affected countries house major automotive production hubs, such as Germany, the UK, India, and the U.S. The pandemic is likely to have a measurable impact on consumer demand in the short term, with automotive sales in Germany registering a 40% drop in Q1 of 2020. Tier-2, and especially tier 3 suppliers of automotive steering systems are poised to get adversely affected by pandemic-related disruptions.

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The global automotive steering system market is likely to experience a V-shape recovery growth curve, owing to an increase in automotive production in emerging countries such as China, Mexico, and India. As such, the market will witness rapid resurgence post containment of the COVID-19 pandemic.

The global automotive steering system market was valued at US$ 22 Bn in 2019, and is projected to exhibit a CAGR of 4% over the forecast period (2020–2030).

Key Takeaways of Automotive Steering Systems Study:

• Active safety technologies such as antilock breaking systems (ABS) and electronic stability control (ESC) are becoming commonplace in the automotive sector for improved safety; thus, fueling the demand for automotive steering systems.
• Increasing adoption of advanced technologies and power steering systems in mid-size, compact, and light commercial vehicles (LCVs) is expected to positively influence the automotive steering system market.
• Electric power steering is expected to be highly preferred over other technologies, as it offers simplified tuning, packaging flexibility, and engine-off steering assist.
• Key manufacturers in automotive steering system market are innovating automotive steering systems to increase control and stability by using sensors and traction control systems for the detection of vehicle skidding movements as well as to counteract them, which complements the safety features of automotive steering systems.

“Autonomous vehicles and connected cars are rapidly becoming mainstays, and are expected to pave the way for future-proof systems where computers would replace human drivers, thus creating positive growth prospects for players in the automotive steering system market. In addition, the ongoing COVID-19 pandemic is likely to alter how key players establish their supply chains in the coming years, where, putting more focus on decentralization is likely to happen.”

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Automotive Steering System Market Participant Insights

The global automotive steering system market is highly consolidated, with the top ten players in the market holding nearly 70% value share. Leading players are looking to expand their business operations in emerging markets and increase value-addition in their product offerings through portfolio rationalization.

Launching advanced products that offer umpteen operational benefits in tandem with fulfilling existing safety regulations will help key players achieve product differentiation as well as scale-up their presence in the global automotive steering system market.

Key Segment

Technology

• Electronic Steering
  • H-EPS
  • C-EPS
  • P-EPS
  • R-EPS
• Hydraulic Steering
• Manual Steering
• Electro-hydraulic Steering

Vehicle Type

• Passenger Cars
  • Compact
  • Mid-size
  • Premium
  • SUVs
• Light Commercial Vehicles
• Heavy Commercial Vehicles

Region

• North America
• Latin America
• Europe
• South Asia & Pacific
• East Asia
• Middle East & Africa

Some of the key players mentioned in the automotive steering system market study are JTEKT Corporation, Nexteer Automotive Group Ltd, Showa Corporation, ThyssenKrupp AG, Hitachi Automotive System Ltd, Robert Bosch GmbH, and NSK Steering System Co. ltd.

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Report Metrics  & Details

• Base Year – 2019
• Historical Period – 2015-2019
• Forecast Period – 2020-2030
• Market Value in 2019 – US$ 22.8 Bn
• Segments Covered – Technology, Vehicle Type, and Region
• Regions Covered – North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and the Middle East & Africa.
• Key Companies – JTEKT Corporation, Nexteer Automotive Group Ltd., Showa Corporation, ThyssenKrupp AG, Hitachi Automotive System Ltd., Robert Bosch GmbH, and NSK Steering System Co. Ltd.
• Growth Drivers –
  • Upsurge in automotive production
  • Increasing sales of electric vehicles
  • Rising adoption of connected technologies in automobiles

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

A new report by Future Market Insights presents interesting insights into the global conventional motorcycles and scooters market and traces the growth of the market over a 10 year forecast period 2017 – 2027. The report titled ‘Conventional Motorcycles and Scooters Market: Global Industry Analysis 2012-2016 and Opportunity Assessment 2017-2027’ is a comprehensive take on the global conventional motorcycles and scooters market with detailed forecasts based on market taxonomy being an essential component of the research.

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Product Type – Standard Motorcycles Popular in the Conventional Motorcycles Market

Standard motorcycles are very popular and are expected to gain a massive 390 BPS by the end of the forecast period. This can largely be attributed to their affordability, making them sought after by lower-middle class and middle-class customers. Standard motorcycles are almost half the global conventional motorcycles market in terms of absolute dollar opportunity.

Product Type – Standard Scooters Dominate the Conventional Scooters Market

Standard scooters are easy to handle and convenient to ride, spurring their popularity with youngsters, women, and senior citizens. The volume of standard scooters is poised to exceed 26 million units by the end of 2027. An incremental dollar opportunity of approx. US$ 16 Bn exists in the standard scooters market for the decadal study.

Engine Capacity – Minimum Capacity Motorcycles Have Maximum Volume

The motorcycles with a cubic capacity of less than 150 CC have a market share of more than 3/4^th the conventional motorcycles market and are predicted to retain this commanding position. These motorcycles offer their riders the best of both worlds by being able to strike the right balance between performance and fuel efficiency.

Engine Capacity – Up to 150 CC Scooters Largest Conventional Scooters Market Segment

Scooters with a cubic capacity of less than 150 CC are the focus area for key stakeholders in the conventional scooters market as they are able to eke out the maximum fuel efficiency for every drop of fuel. The less than 150 CC scooter segment is on track to record a CAGR of 4.3% from 2017-2027.

Region – APEJ Motorcycles Market Races Ahead in the Conventional Motorcycles Market

The fast-growing, dynamic economies of China, India, and Indonesia have millions newly entering the middle class and seeking out a means of personal mobility. These customers naturally gravitate towards motorcycles leading to this region being the most important by a considerable margin in the conventional motorcycles market. With unit sales approaching 43 million units by 2027, it is not surprising to see why.

Region – APEJ Scooters Market Largest in Conventional Scooters Market

The APEJ scooter market is larger than all other regions combined in the conventional scooters market and it is imperative that companies have a foothold in this crucial region. The highest growth is projected to be in the APEJ region causing its market share to rise from 87% to 89% by the end of the forecast period. All other regions should only grow by a single percentage point or lesser.

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Conventional Motorcycles and Scooters Market Taxonomy

Conventional Motorcycles Market

• Product Type
  • Standard
  • Cruiser
  • Mopeds
  • Sports
  • Others
• Engine Capacity Type
  • Up to 150cc
  • 151-300cc
  • 301-500cc
  • Above 500cc

Conventional Scooters Market

• Product Type
  • Standard
  • Enclosed
  • Maxi
  • Three-Wheeled
• Engine Capacity Type
  • Up to 150cc
  • 151-300cc
  • 301-500cc
  • Above 500cc

Region

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific excluding Japan ( APEJ)
• Japan
• Middle East & Africa

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Conventional Motorcycles and Scooters Market: Competition Dashboard

Future Market Insights has profiled some of the most prominent companies active in the conventional motorcycles and scooters market. These include Yamaha Motors Co., Piaggio, Suzuki Motor Corporation, Honda Motor Co., Hero Motocorp, Eicher Motors, Harley-Davidson, Bajaj Auto, TVS Motor Company, Lifan Industry, Ducati Motor Holding, KTM, Triumph Motorcycles, Kwang Yang Motor Co., Syarikat Motosikal dan Enjin Nasional Sdn. Bhd., Sanyang Motor Co., Walton Group, QianJiang Group Co., Luoyang Northern Ek Chor Motorcycle Co., and Chongqing YinXiang Motorcycle.

Important Insights on the Conventional Motorcycles and Scooters Market

The bulk of the activity is seen in the APEJ region as a massive middle class is gravitating towards conventional motorcycles and conventional scooters because of their convenience and cost-effectiveness over four-wheelers. Large players are entering into tie-ups with local distributors and vendors to cater to the demand from far-flung areas, thereby expanding their potential customer base.

 

FMI delivers key insights on the global electric bike market in its latest report titled “Electric Bike Market: Global Industry Analysis 2012-2016 and Opportunity Assessment 2017-2027.” The long-term outlook on the global electric bike market remains positive with the market value expected to increase at a CAGR of 3.1% during the forecast period (2017-2027). Among the battery types, the lead-based battery segment in the electric bike market is expected to expand at a CAGR of more than 3% in terms of value over the forecast period.

The global market for battery electric bike is estimated to represent a total increment opportunity of 6.1 Bn from 2017 to 2027. Asia Pacific excluding Japan (APEJ) is estimated to account for a value share of 81% in the global electric bike market by the end of 2017, and is also expected to dominate the market during the forecast period. In this report, FMI throws light on the drivers and restraints likely to impact the electric bike market during this period.

Adoption of Clean Technology Expected to Boost the Electric Bike Market

Government agencies are focusing on electro-mobility and reducing pollution, hence, zero emission vehicles are being increasingly promoted through attractive incentives and schemes. This has led to an enhanced focus on electric bikes and thus, a significant increase in the sales of electric bikes is expected over the forecast period. Apart from curbing air pollution, electric bikes also help reduce the level of noise pollution.

Growth in the transportation sector has severely depleted non-renewable petroleum reserves, and this has increased the prices of fuel. Fuel prices are expected to increase exponentially in the coming years as crude oil reserves will be reduced, which will pave the way for the growth of vehicles running on alternate sources of energy.

Moreover, the prices and consumption of petroleum products as fuel in the automotive sector is growing day by day, and to reduce the global consumption of the same, manufacturers and governments are promoting the usage of electric bikes as they are far more fuel-efficient compared to conventional automobiles. These factors are estimated to enhance the electric bike market.

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Segmentation Analysis of the Electric Bike Market
The electric bike market is segmented on the basis of product type, battery type and technology.
• Pedelecs is expected to be the most prominent segment in terms of volume and value over the forecast period. The pedelecs sub-segment of the electric bike market is estimated to grow at a CAGR of 3.2% in terms of value over the forecast period. Pedelecs are expected to represent a total incremental opportunity of US$ 3.9 Bn between 2017 and 2027 in the electric bike market. The electric scooter and motorcycle sub-segments are projected to grow at a relatively low CAGR as compared to pedelecs over the forecast period

• The most prominent battery type in the electric bike market is estimated to be the lead-based battery. The lead based battery segment is estimated to grow at a steady CAGR over the forecast period in the electric bike market
• The battery electric scooter segment is the most prominent technology segment in the electric bike market. It is estimated to account for more than 80% of the electric bike market throughout the forecast period.

Regional Market Projections of the Electric Bike Market
The electric bike market in APEJ is expected to represent a significantly high incremental opportunity between 2017 and 2027. The electric bike market in APEJ is expected to represent a total incremental opportunity of US$ 6.1 Bn between 2017 and 2027.

Electric Bike Market Participants
This report highlights some of the top companies operating in the electric bike market, which include ECCITY Motocycles, Hero Electric Vehicles Private Limited, Gogoro Inc., GOVECS GmbH, Vmoto Limited, Honda Motor Co. Ltd., Piaggio & C. SpA, Terra Motors Corp., Bayerische Motoren Werke AG, Jiangsu Xinri E-Vehicle Co. Ltd., Giant Manufacturing Co. Ltd., Emotion Bikes USA, Pedego Electric Bikes, Volt, Energica Motor Company S.p.A., Zero Motorcycles, Inc., Mahindra Genze, Derby Cycle and Accell Group.

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Key Segments Covered in the Electric Bike Market Report
On the basis of product type, the electric bike market can be segmented into:
• Electric Scooter
• Electric Motorcycles
• Pedelec
On the basis of battery type, the electric bike market can be segmented into:
• Li-Ion
• NiMH
• Lead-based
On the basis of technology, the electric bike market can be segmented into:
• Plug-In
• Battery
On the basis of region, the electric bike market can be segmented into:
• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific excluding Japan (APEJ)
• Japan
• Middle East & Africa (MEA)

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About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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