Market Research Blog

The Electric Bike Market Growth is anticipated to thrive at a steady CAGR of 10.2% between 2023 and 2033. The market is expected to have a market share of US$ 150.01 Billion by 2033, while it is likely to be valued at US$ 56.79 Billion in 2023.

 Key Points:

1. The United States market leads the North American electric bike market in terms of market share in North America. The United States held a market share of 22.1% in 2022. The factors are attributed to leading two-wheel vehicle brands, government support for sustainable industries, and aware citizens.
2. The German electric bike market held a market share of 6.9% in 2022. The market growth is caused by Germany being the automotive hub and extended research and development facilities. These facilities are advancing the battery performance while the German government target to limit the carbon footprint by the end of the forecast period.
3. The Indian market thrives at a steady CAGR of 10.0% between 2023 and 2033. The government focuses on the energy transition from fossil and petroleum sources to alternative sources like electric and solar, garnering regional performance in the global market.
4. Market in China is also expected to thrive at a CAGR of 10.5% during the forecast period 2023 to 2033.
5. Based on product type, the pedelecs segment leads the market as it held a market share of 47.3% in 2022. Its health benefits, lower power consumption, and regenerative braking options are expected to help the segment keep its lead during the forecast period.
6. Based on battery type, the lead-based battery segment strives as it accumulated a revenue share of 85.7% in the global market in 2022.

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• The revolution of e-bikes, e-cycles, and electric cars is around the corner and is experienced not only in first-world countries but also the emerging economies. The recent addition of E-bikes run on electric batteries.
• Higher sales of e-bikes are due to the no-fuel prices, minimum carbon emissions, and government subsidies. Alongside this, citizens are also adopting environmentally friendly ways of transportation.
• New e-bike launches with high mileage, improved power, advanced transmission, and better design are also gaining traction in the market. The battery performance and acceleration being the center of the deal, companies are now using high-power batteries in the bike.
• Local governments around the world, especially in population-dense countries in the east like China and India, are introducing community e-bike programs. These programs charge the minimum while delivering the maximum benefits.
• The growing electric vehicle infrastructure is also flourishing with the expansion of charging spots and stations around the world. These stations also offer service, repair, and replacement of the electric bike.

Competitive Landscape:

The key vendors focus on durability, high battery life, and improved performance. The competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.

Top Players are:

1. ECCITY Motorcycles
2. Hero Electric Vehicles Private Limited
3. Gogoro Inc.
4. GOVECS GmbH
5. Vmoto Limited
6. Honda Motor Co. Ltd.
7. Piaggio & C. SpA
8. Terra Motors Corp.
9. Bayerische Motoren Werke AG
10. Jiangsu Xinri E-Vehicle Co. Ltd.
11. Giant Manufacturing Co Ltd.
12. Emotion Bikes USA
13. Pedego Electric Bikes
14. Volt
15. Energica Motor Company S.p.A.
16. Zero Motorcycles, Inc.
17. Mahindra Genze
18. Derby Cycle
19. Accell Group.

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Recent Market Developments in this Market:

• Pedego Electric Bikes has introduced several e-bikes, including Avenue – Electric Commuter Bike, City Commuter: Lite Edition, City Commuter Mid Drive Edition, and City Commuter: Platinum Edition.
• Vespa has introduced the electric mobility vehicle named Elettrica with integrated smart technology and a TFT dashboard.

Key Segmentation:

By Product type:

• Electric Scooter
• Electric Motorcycles
• Pedelec

By Battery type:

• Li-Ion
• NiMH
• Lead-based

By Technology:

• Plug-In
• Battery

Author

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

Explore FMI’s Extensive Ongoing Coverage on Automotive Domain

Automotive Electronics Market:
https://www.futuremarketinsights.com/reports/automotive-electronics-market

Real-Time Parking System Market:
https://www.futuremarketinsights.com/reports/real-time-parking-system-market

Hydrogen Buses Market:
https://www.futuremarketinsights.com/reports/hydrogen-buses-market

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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The global ADAS Sensors Market Growth in 2022 was US$ 28.12 billion and is estimated to be US$ 30.53 billion in 2023. As per the Future Market Insights projection, the ADAS sensors market is anticipated to expand at a CAGR of 8.7% between 2023 and 2033, totalling around US$ 70.33 billion by 2033.

Key Takeaways from the Market Study

• The global advanced driver assistance systems (ADAS) sensors market expanded at a CAGR of 7.4% between 2018 and 2022.
• The global ADAS sensors market is expected to boost sales at an impressive 14.1% CAGR over the forecast period, with the market valuation reaching US$ 43.2 billion in 2030.
• Future Market Insights (FMI) says that the sales in the ADAS sensors market accounted for 6-7% of the global sensors market in 2020.
• North America’s ADAS sensors market is expected to hold a 15.6% of the total market share whereas the United States holds a value share of 14.8%.
• The United Kingdom is projected to emerge as a significant pocket over the assessment period with a market share of 14.2% whereas Germany’s market is said to expand at a CAGR of 8.9% due to the high adoption of ADAS systems in economic and luxury vehicles.
• Europe’s ADAS sensors market held a dominant share of 24.3% in the global ADAS sensors market in 2022.
• The rising preference for cruise control in modern vehicles might spur demand for ADAS sensors that drives sales in this segment holding a market share of 52.4%.
• The demand for ADAS sensors in the passenger vehicles segment is expected to continue rising over the forecast period as per FMI holding a market share of 49.9%.
• A wide availability of ADAS radar sensors offered by OEMs might boost sales with a value share of 40.2%.

The presence of a variety of electronic monitoring and controlling devices is one of the key developments of the ADAS market – comments a Future Market Insights Analyst.

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ADAS (Advanced Driver Assistance Systems) in-vehicle systems help in monitoring, warning, and managing the vehicle with partial and full driver control like when a person drives the car but is unable to completely concentrate on driving and is in need of appointing in vehicle control, where the driver is driving in or doing other tasks such as parking the vehicle.

There is full concentration on the development of high-precision sensors as ADAS sensors play an important part in ADAS decision-making for vehicle control thus, upliftment of the market arises.

Reasons like the lack of infrastructures outside urban areas, exhibiting cost considerations, and insufficient driving in training or discipline are all restraining the industry’s development in developing countries.

Some of the prominent players profiled in the global market are

1. Continental AG
2. Robert Bosch GmbH
3. Denso Corporation
4. Delphi Technologies PLC
5. Hella GmbH & Co. KGaA
6. TE Connectivity
7. CTS Corporation
8. NXP Semiconductors N.V.
9. Microchip Technology Inc.
10. Infineon Technologies AG

Important Developments by Key Players in the Market

• In January 2023, from the latest in energy-efficient lifestyle products to advances in e-mobility that electrify vehicles and roadways to the realization of a carbon-neutral town, Panasonic highlights its innovations, smart collaborations, environmentally responsible solutions, and wellness technology at CES 2023.
• In May 2023, Japan’s Panasonic Holdings Corp (6752.T) aims to ramp up production of battery cells used in electric vehicles by building at least two new factories in North America.

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ADAS Sensors Market Segmentation

By Product Type:

• Blind Spot Detection
• Night Vision Sensors
• Light Sensors
• Parking Sensors
• Cruise Control

By Vehicle Type:

• Passenger Vehicles
• Commercial Vehicles
• Heavy Commercial Vehicles

By Sales Channel:

• Original Equipment Manufacturers (OEM)
• Original Equipment Spares (OES)
• Independent Aftermarket (IAM)

By Region:

• North America
• Latin America
• Eastern Europe
• Western Europe
• Asia Pacific excluding China & Japan
• Japan
• China
• The Middle East & Africa

 

Author

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About the Automotive Division at Future Market Insights

The automotive team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.

 

Explore Wide-ranging Coverage of FMI’s Automotive Landscape

 

Automotive Balance Shaft Market:

https://www.futuremarketinsights.com/reports/automotive-balance-shaft-market

 

Bicycle Market:

https://www.futuremarketinsights.com/reports/bicycle-market

 

Automotive E-compressor Market:

https://www.futuremarketinsights.com/reports/automotive-e-compressor-market

 

 

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Nandini Singh Sawlani   

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

 

 

 

 

The ship repair and maintenance services market growth is likely to strengthen its boundaries at a CAGR of 6.6% during the forecast period. The market is anticipated to cross a market share of US$ 50.3 billion by 2033 while it holds a revenue of US$ 26.5 billion in 2023.

Key Points

1. The Asia Pacific region tops the tally when it comes to the consumption of ship repair and maintenance services, while China holds the biggest market share of US$ 9.1 Bn in 2023 and highest CAGR of 7.4 during the forecast period.
2. Followed by China, South Korea to cross a value of US$ of 4.2 Bn by 2033.
3. Being another significant market for ship repair and maintenance services, US thrives at a CAGR of 4.8% during the forecast period while expecting a value of US$ 1.6 Bn by 2033.
4. Oil and chemical tankers segment performs better than its counterparts in the vessel type category as it goes through the regressive routine and carries tons of oil through the longer commercial sea routes. It is expected to thrive at a CAGR of 6.4% during the forecast period.
5. The service and maintenance of hull is the ship’s watertight enclosure and it tops the service type category with a CAGR of 6.2% by 2033.

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– The rising manufacturing industry along with industrialization has led to the higher consumption of logistic services such as ship-based logistics operations, gaining traction for the ship repair and maintenance services market.

– Rapid industrialization is followed by the convenient seaborne trade options that businesses choose over the costly airborne logistic operations, expanding the ship repair and maintenance services market size.

– Increase in industrial manufacturing goods and post-effects of globalization have played a major part in creating demand for ship repair and maintenance services. Furthermore, the reconditioning of these ships and their transformation have flourished the market growth.

– Government programs work for the enhancement of ship building and maintenance practices through tax cuts. Proliferating private investments are also likely to fuel the adoption of ship repair and maintenance services.

– Ship owners take ship repair as an essential part of operations as It ensures the ship health and cargo safety along with time and money saving in a long run.

Competitive Landscape

The competitors focus on the addition of newer maintenance equipment and technology. Furthermore, the vendors also work on the “One stop shop” model to provide each service type under one roof.

Key players in the ship repair and maintenance services market are: Damen Shipyards Group, Sembcorp Industries Ltd, Cochin Shipyard Limited, China Shipbuilding Industry Corporation, Fincantieri S.p.A., Dae Sun Shipbuilding & Engineering Co. Ltd, Hyundai Mipo Dockyards Co. Ltd, Arab Ship building and Repair Yard Company, Keppel Corporation Limited, United Shipbuilding Corporation, Alexandria Shipyard, Dormac Ship repairs, Astican, and HOSEI CO. LTD

For instance:

• Arab Shipbuilding and Repair Yard Company has revisited the business model and added ship recycling in its services. Other than this, the company provides ship repair & conversion, rig repair, and navel repair along with fabrication and engineering.
• Dormac Ship repairs introduce its repair services like CNC machining, fabrication, cofferdam repairs, electrical circuit repairing etc.

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Key Segments

By Vessel Type:

• Oil and Chemical Tankers
• Bulk Carriers
• General Cargo
• Container Ships
• Gas Carriers
• Offshore Vessels
• Passenger Ships and Ferries
• Mega Yachts and Other Vessels

By Service Type:

• General Services
• Dockage
• Hull Part
• Engine Parts
• Electric Works
• Auxiliary Services

Author

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

Explore FMI’s Extensive Ongoing Coverage on Automotive Domain

 

Bicycle Components Aftermarket:

https://www.futuremarketinsights.com/reports/bicycle-components-market

 

Automotive Battery Management System Market:

https://www.futuremarketinsights.com/reports/automotive-battery-management-system-market

 

Automotive Sensors Market:

https://www.futuremarketinsights.com/reports/automotive-sensors-market

 

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

 

Contact Us:        

Nandini Singh Sawlani   

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

 

 

According to Future Market Insight, the India automotive stamping market growth is projected to reach US$ 18.86 billion by 2033, with a CAGR of 10.5%. This marks a substantial increase from the estimated value of US$ 6.94 billion in 2023.

Key Takeaways from the India Automotive Stamping Market

• In 2023, the global automotive stamping market is anticipated to attain a valuation of US$ 11.01 billion. With a projected CAGR of 5.3% until 2033, the global market is expected to exceed US$ 18.46 billion.
• In 2022, the automotive stamping industry in India reached a market size of US$ 6.88 billion, demonstrating a CAGR of 10.1%.
• The passenger car segment held the leading market share of 28.7% in the India automotive stamping industry in 2022. From 2022 to 2023, the automotive industry in India manufactured a total of 4,578,639 passenger cars.
• The electric vehicle market is growing rapidly in India, creating new opportunities for automotive stamping companies.
• The steel segment commanded a market share of 54.4% and emerged as the dominant player in the India automotive stamping industry in 2022. High-strength steels are gaining popularity in automotive stamping due to their superior strength, stiffness, and fatigue resistance.
• The rapid growth of the aftermarket segment in India is generating fresh opportunities for automotive stamping companies to supply replacement parts.
• The Indian automotive stamping industry is becoming increasingly competitive with the entry of international players. This is driving innovation and market investment, which is likely to create new opportunities for domestic players.

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The expansion of India’s automotive industry directly translates into increased demand for automotive stamping components. As more vehicles are produced, the need for stamped parts such as body panels, chassis components, and engine parts rises, driving the market growth.

India’s status as a key automobile producer contributes to the automotive stamping market growth. With the production of passenger cars, commercial vehicles, and two-wheelers on the rise, there is a consistent demand for stamped components that are essential for vehicle assembly.

The “Make in India” campaign and the National Electric Mobility Mission Plan 2020 promote domestic manufacturing and attract investments in the automotive sector. These initiatives create a favorable environment for automotive stamping manufacturers, as they encourage local production, leading to increased demand for stamped components.

Lightweighting has become a crucial aspect of vehicle design as it helps improve fuel efficiency and reduce emissions. Automotive stampings made from lightweight materials such as aluminum and advanced high-strength steels enable automakers to achieve weight reduction goals, driving the demand for such components.

The expanding middle-class population in India has increased the demand for passenger vehicles. As more people are able to afford cars, the automotive industry experiences a surge in production, leading to increased demand for automotive stampings.

Infrastructure projects, such as the construction of highways and bridges, stimulate the demand for commercial vehicles. These vehicles require various stamped components like chassis frames and suspension parts. This has fueled the India automotive stamping market expansion.

Indian automotive stamping manufacturers capitalize on export opportunities due to factors such as cost competitiveness, skilled labor, and adherence to quality standards. Expanding into international markets diversifies their customer base and drives market growth.

The Indian government’s emphasis on electric vehicle adoption creates new opportunities for automotive stamping manufacturers. EVs require specific components, such as battery enclosures and structural components, which drive the demand for specialized stamped parts.

Global automakers establishing manufacturing facilities in India promote the localization of the automotive supply chain. This shift creates partnerships with local automotive stamping manufacturers, boosting their market share and driving the overall growth of the industry.

Stricter safety regulations and emission norms in India necessitate the use of high-quality stamped components to ensure vehicle safety and compliance. This drives the demand for automotive stamping components that meet the required safety standards and regulatory requirements.

The abundant pool of skilled labor, including engineers and technicians, supports the growth of the India automotive stamping market. The availability of a skilled workforce enables efficient production, innovation, and adaptation to changing industry needs, driving the overall market.

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Competitive Landscape in the India Automotive Stamping Market

Key players are actively engaged in various activities to maintain a strong market presence. They focus on advanced technology integration, product innovation, strategic collaborations, and expanding their production capacities. These players also invest in research and development to enhance manufacturing processes, improve product quality, and cater to evolving customer demands. Additionally, they emphasize sustainability practices and adopt eco-friendly initiatives to align with environmental regulations and meet customer expectations.

Top Key Players in the India Automotive Stamping Market

1. Automotive Stampings and Assemblies Ltd
2. JBM Group
3. Klt Automotive and Tubular Products Limited
4. Autocomp Corporation Panse Pvt. Ltd
5. Omax Auto Ltd
6. Mahindra CIE Automotive Limited
7. Sona Koyo Steering Systems Limited
8. Harsha Engineers Limited
9. Tata Autocomp Systems Limited
10. Cosma International (India) Private Limited
11. Yeshshree Press Comps Private Limited
12. Gestamp Automobile India Private Limited

India Automotive Stamping Market: Segmentation

By Stamping:

• Hot Stamping
• Cold Stamping

By Vehicle:

• Two-Wheeler
• Three-Wheeler
• Passenger Car
• Commercial Vehicle

By Material:

• Steel
• Aluminum
• Others

By Process:

• Progressive Die Stamping
• Tandem Stamping
• Transfer Stamping

By Product:

• Body Stamping

• BIW Parts
• Chassis

• Non-Body Stamping

• Engine Parts
• Transmission and Steering Parts
• Braking and Suspension Parts
• Electrical Parts
• Fuel Delivery, Emission and Filtration
• Safety Equipment and Seating System
• Lighting Components
• Cooling System

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa

 

Author

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

Explore FMI’s Comprehensive Coverage of the Automotive Landscape

Automotive Glass Market Share:
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https://www.futuremarketinsights.com/reports/automotive-dc-dc-converter-market

 

Compact Wheel Loaders Market:

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Nandini Singh Sawlani   

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

The global aerospace fasteners market growth is projected to reach US$ 7,834.5 million in 2022, expanding at a steady CAGR of 6.4% from 2017 to 2022. By 2032, the aerospace fasteners market is projected to be worth US$ 14,568.9 million. According to research conducted by Future Market Insights, the aerospace fasteners market has historically grown at a CAGR of 4.8%.

As airlines seek to reduce their carbon footprint, they are expected to increase their use of lightweight materials like titanium and aluminium aircraft fasteners. In addition, the emergence of new competitors is expected to usher in fresh aerospace fasteners market growth prospects. Standard aircraft fasteners like screws, nuts, rivets, and bolts are widely used in the aircraft sector. There are likely to be a lot of new opportunities for aircraft fastener manufacturers in the next decade as commercial and military aircraft demand rises.

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Demand for lightweight fasteners that can minimize fuel consumption and the time it takes to assemble and disassemble aircraft components are the main factors driving the aerospace fasteners market. Commercial aviation, military aviation, and space applications are the three largest end-use aerospace fasteners markets.

The industrial industry has reaped many benefits from advances in 3D printing and robotics technology. Using autonomous robotic manufacturing has enhanced production rates and quality while decreasing the need for human workers. Faster mass production, greater accessibility, higher quality, tangible design and product testing, lower costs, greater creative freedom in customization, less waste production, and fewer design and human errors are just some of the benefits of 3D printing technology. For these reasons, 3D printing and robotics technologies have become more widely used in the manufacture of precision airplane components.

Therefore, the aerospace fasteners market is being driven by the increasing use of aerospace robots and 3D printing technologies in the production of aircraft fasteners.

The aerospace fasteners market is being held back primarily by the increasing use of composite frames in the aerospace hardware industry. Because composite materials are utilized as frames in composite structures, joining two separate parts is unnecessary. Composites are in high demand because of their many desirable characteristics, which include superior strength and durability, resistance to corrosion, low weight, adaptability in design, and low thermal conductivity. Composite materials are being more and more widely used in the aerospace tools industry due to their lighter weight and modern design advantages, which are projected to slow the aerospace fasteners market.

Key Takeaways

• As the concentration of major aircraft manufacturers like Textron, Boeing, and Bombardier, among others, in the North American aerospace fasteners market, which reached $1.86 billion in 2021, this area is anticipated to continue to dominate the industry.
• According to FMI’s research report, Europe is expected to follow North America as the region with the second-highest share of the worldwide aerospace fasteners market over the forecast period.
• In 2020, the aerospace fasteners market was led by the alloy steel category in terms of revenue, but the titanium segment is projected to expand at the fastest rate of growth (CAGR) throughout the forecast period.
• In terms of product, the aerospace fasteners market was dominated by nuts and bolts in 2020, but the others sector is projected to grow at a faster rate in the coming years.
• Although the civil aviation application generated the most revenue in 2020, the military aviation application is expected to grow at the fastest rate over the forecast period.
• In 2020, Asia and the Pacific had the highest earnings of any region.
• Some of the most important aerospace companies in the aerospace fasteners market are B&B Specialities Inc., Bufab Group, Howmet Aerospace, LISI Aerospace, Precision Castparts Corp., Stanley Black & Decker Inc., TFI Aerospace, The Boeing Company, TriMas Corporation, and Wurth Group.

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Competitive Landscape

Market participants in the aerospace fasteners industry are making plans and extending their operations through the adoption of strategies, the signing of long-term contracts, the formation of joint ventures and mergers and acquisitions, and increased investment in R&D. Abilities enhancement is also being incorporated into the production of high-utility aerospace hardware, which is expected to increase the product’s popularity in the aerospace fasteners market.

Key companies proliferating in the aerospace fasteners market are

• 3V Fasteners Company Inc.
• Accumen Global Technologies
• Advanced Logistics for Aerospace
• Alcoa Fastening Systems & Rings
• Allfast Fastening Systems
• Avdel private limited
• B&B Specialties, Inc.
• Bufab Group
• EADS
• Arconic
• Ho-Ho-Kus Inc.

Key Segments in the Aerospace Fasteners Market

By Product Type:

• Pins
• Bolts
• Studs
• Screw
• Rivets

By Application:

• Commercial aerospace
• Military aerospace

By Material:

• Aluminum
• Steel
• Super alloys
• Titanium

 

Author

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Nandini Singh Sawlani   

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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The global automotive seat heater market reached US$ 2,871.1 million in 2022. Over the forecast period, global automotive seat heater demand is anticipated to rise at a 6.7% CAGR. Total market value is predicted to increase from US$ 3,030.0 million in 2023 to US$ 5,790.8 million by 2033.

The market for car seat heaters is expanding due to the escalating rivalry in the automotive sector. The availability of straightforward financing for purchasing a vehicle and increased consumer income & affordability are other key reasons propelling the market. Moreover, the expansion of the automotive sector moves the global market’s growth.

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Increasing demand for energy-efficient & comfortable cars, inclination toward premium passenger cars, and acceptance of carbon fiber technology are a few factors expected to propel the automotive seat heater market. The industry is expanding because of the health advantages, which include instantaneous warming and comfort from sore backs. The market is expanding due to the rising aftermarket sales of car seat heaters.

Vehicles with this technology have a feature that allows the driver to customize the temperature of the cushion and backrest independently. Since automotive seat heaters are a relatively new technology, they could not be available in older cars. Nevertheless, with the help of experts providing auto upgrade services, the modifications can be made after the sale. This can also be accomplished with several seat heating kits available.

Seat warmers operate through electrical heating components integrated into the seat cushion or the backseat. In general, the materials are safe and very electrically resistant. Converting electrical energy into thermal energy provides comfort for the seaters. Throughout the forecast period, the automotive seat heater market is expected to surge due to advancements in technology and sophisticated features like adjustable heating levels and controlled, constant warmth.

Key Takeaways from the Market Study-

• The global demand for automotive seat heaters is expected to reach US$ 5,790.8 million by 2033.
• The market is expected to rise at a CAGR of 6.7% from 2023 to 2033.
• The United States is projected to reach a market valuation of US$ 1,154.4 million by 2033.
• Based on region, China is expected to reach US$ 288.9 million by 2033.
• Based on application, the driving seat segment reached a valuation of US$ 1,902.5 million in 2023.

“Due to increasing sales of electric vehicles, the automobile seat heater market is expected to experience high growth through the forecast period. Seat and steering wheel heaters are standard for most electric vehicles to heat a car area without warming the interior. Regarding additional amenities, it is among the best features electric cars (EVs) provide.” – says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)

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Competitive Landscape

Continental AG, Panasonic Corporation, Gentherm Incorporated, and II-VI Incorporated are the leading manufacturers and suppliers of automotive seat heaters listed in the report. Prominent automobile seat heater manufacturers are allocating resources toward ongoing research to provide novel items and augment their manufacturing capabilities to satisfy consumer demand. To increase their presence, they also tend to implement growth strategies such as collaborations, acquisitions, mergers, and facility expansions.

Key Companies Profiled

1. Continental AG
2. Panasonic Corporation
3. Gentherm Incorporated
4. II-VI Incorporated
5. Seat Comfort Systems, Inc.
6. Roadwire LLC
7. Rostra Precision Controls Inc.
8. Firsten Automotive Electronics Co., Ltd.
9. Lear corporation
10. Guangzhou Tachibana Electronic Co., Ltd.

Recent Developments –

• In July 2022, II-VI Incorporated acquired Coherent, forming a global leader in materials, networking, and lasers.
• In August 2020, Lear and Gentherm introduced INTU™ Thermal Comfort Seating with ClimateSense™ Technology.

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Automotive Seat Heater Market Segmentation

By Product Type:

• Carbon Fiber Seat Heater
• Resistance Wire Seat Heater

By Vehicle Type:

• Compact
• Mid-size
• Luxury
• SUVs
• Commercial Vehicle
• Recreational Vehicle

By Application:

• Driving Seat
• Passenger seat

By Heat Setting:

• Fixed Setting
• Variable Setting

By Sales Channel:

• OEM
• Aftermarket

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• South Asia Pacific
• East Asia
• Middle East and Africa

Author

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Nandini Singh Sawlani   

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube