Automotive Era

Rolling Ahead: Automotive Tire Market Trends and Innovative Mobility Solutions

The global automotive tire market is experiencing growth. Worldwide, the APAC automotive tire industry has experienced the fastest development in the past few years and is projected to advance at a substantial rate in the future as well. The industry in the region is mainly boosted by growing automobile production, increasing gross domestic product, and growing per-capita income of individuals in developing nations, like China and India. The rising popularity of next-generation, high-performance tires is one of the key trends observed in the automotive tire industry. High-performance tires are increasingly gaining traction among automakers and companies, particularly in the aftermarket.
These are fuel-effective and low-noise-producing tires, which have been exclusively utilized in luxury passenger cars. However, in the past few years, they are being utilized in premium SUVs and crossover utility vehicles. Furthermore, the growth of ultra-high-performance tires caused the growth of the total speed and dependability of the tires. A high-performance tire can withstand a speed of up to 270 km/h on average, while an ultra-high-performance tire can withstand a speed of 299 km/h. Such tires are more appropriate for driving over rough lands and for roving longer distances, because of their advanced toughness over other tires. On the basis of vehicle, the passenger cars category held the largest share, in terms of both worth and size, in recent years, in the automotive tire market. This can be credited to the rising sales of passenger cars throughout the globe, along with growing per-capita income. Furthermore, the rising sale of passenger cars is leading to the augmented requirement for automotive tires. Additionally, the increasing demand for SUVs and CUVs throughout the globe, in the past few years, is further projected to fuel the demand for tires in this category. Worldwide, APAC holds the largest industry share, in terms of both worth and size, followed by North America and Europe. China has the biggest automotive market in the globe, with more than 27.8 million vehicles manufactured. Thus, with the boom in vehicle manufacturing, the head-to-head tire industry experienced a fast development in the past few years. The Chinese tire industry has been experiencing stable development, mainly because of the nation's economic development and stable progress in OEM tire sales. While, Thailand is the fastest-rising industry for automotive tires in the APAC region, and the nation is a source of above 35% of the world’s raw rubber, which is a key component of tires. Other reasons like a steady rise in vehicle production and growing demand for automotive tires in the aftermarket in such regions will fuel the overall development of the automotive tire industry.

Charging Ahead: An In-depth Analysis of the U.S. Electric Truck Market

The U.S. electric truck market will power at a mammoth compound annual growth rate of 54% by the end of this decade to reach a value of USD 15,084.3 million by 2030.
The development of the industry has a lot to do with the growing number of measures of the government for promoting e-mobility and strict emission standards with regards to fossil fuel-powered commercial vehicles. Battery electric vehicles are the most used, and that’s the major reason they will have the fastest growth in the years to come. This has a lot to do with the lowering battery cost, developments in the battery technology, and the support of the government as financial incentives for the expansion and purchase of these vehicles.
California will lead the U.S. electric truck market and will grow significantly in the years to come. The ascendency of the state on the sector is credited to the vast government support as policy formulation and incentive plans encouraging the acceptance of EVs in the state. Furthermore, the state’s expanding zero-emission vehicle is setting an example for the nation, with Governor Gavin Newsom praising the state for selling over 1 million pickup trucks, plug-in e- cars, SUVs, and motorcycles in 2021. As per new data, in the month of February 2022, California had almost 40% of all zero emission vehicles in the nation, despite having just 10% cars of the U.S. It is because of the low cost of operations and maintenance, supportive measures of the government in the nation and the declining cost of batteries, the demand for electric trucks in the U.S. will continue to go up in the years to come.

Exploring the Lucrative U.S. Bus Market: Trends, Opportunities, and Key Players

According to a statement by P&S Intelligence, the U.S. bus market will propel at a 4.7% CAGR, to reach USD 11,237.7 million, by 2030. The growth of the industry is attributed to the mounting population and rapid urbanization, along with the rising government expenses on the advancement of public transport automobiles. Additionally, the accessibility of state, federal, and local fundings and the existence of numerous school buses boost the growth of the industry.
Based on body type, the standard buses category held a larger share in the industry, and it is expected to dominate the industry in the years to come, propelling at a higher CAGR. This is mainly ascribed to the high use of standard buses in schools and public transportation. The electric propulsion category will witness the highest growth rate, of approximately 30%, in the years to come. This is attributed to the fact that in 2021 dissemination of e-buses in the U.S. was approximately 1.6% of the nation’s overall bus sales, and the e-bus share in public fleets is increasing consistently.

To receive free sample pages of this report@ Based on seating capacity, the 30–50 seats category accounted for the largest revenue share in the U.S. bus industry, and it will witness the highest growth rate, of approximately 5.0%, in the years to come. This is ascribed to the fact that these buses burn less fuel, are economically efficient, and can transport more passengers. The U.S. bus industry players have been involved in partnerships, collaborations, product launches, contract wins, and geographical expansions, to advance their position in the industry. Hence, with the rapid urbanization and increasing population, and the requirement for numerous school buses, the U.S. bus industry will continue to grow in the years to come.

Thriving Opportunities: Exploring the Automotive Aftermarket Industry

The automotive aftermarket will register a rate of 5.07% by the end of this decade, to reach USD 1,370.17 Billion by 2030. It is stated by a market research expert by P&S Intelligence, a market research institution. The industry will grow the fastest in the APAC by the end of this decade. This has a lot to do with the fact that APAC is presently the largest passenger car market globally, and it is, hence, growing at the development of aftermarket players.
One of the most-prevalent trends at present being observed in the space is the growing market consolidation and declaration of joint ventures between aftermarket entities, automobile repair service providers, OEMs, and a number of other stakeholders.

To receive free sample pages of this report@ Aftermarket component companies will compete with each other and formulate innovative strategies, for example structuring a strong e-commerce incidence and emerging an extensive product portfolio, for gaining novel customers. Out of the diverse engine parts, the fastest growth will be by the powertrain components and further parts in the future. Equipment will have the fastest growth in the future. This comprises washer systems and wipers, headlights and lighting parts, dashboard instruments, and several other equipment. The APAC region dominated the in the automotive aftermarket in the past, and this trend will continue in the years to come. The fast-growing count of VIO, especially in India and China, is the major driving factors for the advance of the industry. With this surge and the existence of some of the big tier-1 suppliers, the industry will have the fastest growth, at a rate of 5.64%, in the region.

Electrifying Progress: Exploring the Growing Off-Highway Electric Vehicles Market

In 2021, the off-highway electric vehicles market was worth around USD 16,908.6 million, and it is projected to advance at a 21.5% CAGR from 2021 to 2030, hitting USD 97,754.1 million by 2030, according to P&S Intelligence. This growth can be ascribed to the increasing need for low-noise and emission-free machines.
Construction applications held the largest market share of more than 60%, in 2021. The used equipment includes electric excavators and electric loaders. Mainly because of the fast urbanization the demand for houses is on the surge, therefore boosting residential growth throughout the world. Electric vehicles make low or no noise, therefore perfect for operation in densely populated regions, mainly in projects demanding midnight operations or working in residential areas. Thus, excavation or moving material from a school, house, or hospital becomes noise free.

To receive free sample pages of this report@ The HEV category led the industry with approximately 36% market share, in 2021. Such kinds of vehicles are proposed to improve the usage of the internal combustion engine by linking it to an electric powertrain. Because of the strict emission guidelines executed by government agencies, including the European Commission and the U.S. EPA, the need for hybrid-propulsion off-highway machines is rising and fuelling manufacturers to grow more eco-friendly off-road cars. APAC held a major market share of approximately 37%, in 2021. This is mainly because China is the top manufacturer of construction equipment credited to the existence of numerous OEMs, such as Toyota Industries Corporation, Sany Heavy Equipment International Holdings Company Limited, Komatsu Ltd., Northern Heavy Industries Group Co. Ltd., and Hitachi Ltd.; availability of labor at a low cost and presence of superior amenities. Infrastructure is the backbone of financial growth. All types of construction machines release significant levels of greenhouse gases, which spread through large distances. To make the condition even worse, several activities, such as demolition, land clearing, burning, and working with toxic things, contribute to air pollution. Furthermore, in APAC China is dominating the off-highway electric vehicles market. credited to the fact that in terms of electrification of on- and off-highway vehicles, China is the world leader, also the presence of advanced charging infrastructure and easy obtainability of aftermarket services. The national government's backing for infrastructure projects, also the increasing need for e-trucks in South Korea and Japan, is a vital industry booster in the region. Hence, the main booster for the electric off-highway vehicles market is the growing demand for low-carbon release and -noise machines.

Driving the Future: Central Europe's Thriving Heavy Ground Transportation Vehicles Market

A lot of people from nearby countries visit France to discover its iconic monuments, taste its great wines, wander in its lovely countryside, and participate in its haute cuisine, thus powering the requirement for transit buses in Western Europe at a high rate. The Central European heavy ground transportation vehicles market is experiencing growth and is projected to reach $66.6 billion by 2030.
Why Are Trucks So Vital In Europe? Road cargo transport is the backbone of trade and business in the European region. • Trucks bring 78% of all cargo transported over land in Europe. • Trucks are a part of a logistics chain whose parts also include inland waterways, shipping rail, and air transport. While distinctly, each has its benefits, together they form an integrated system. • The other transportation methods are also reliant on trucks to transfer cargo to and from ports, rail terminals, depots, and airfields. • Not only are trucks the most responsive economical and, flexible, mode of transportation for majority of goods and cargo, but they are also vital for the working of the larger, combined European logistics and transportation system. • Most of our daily requirements, including fresh food from the hypermarket or corner shop, clothing, electronics and appliances, and so on, rely on trucks at some point in the delivery chain. • Several vital public services are done with the help of trucks, including garbage collection, construction, and fire services.
Poland Is Full of Trucks Poland mainly trades with neighboring nations, like the U.K., France, Italy, the Czech Republic, and Germany, which is why the need for trucks here is extensively high. To supply the increasing need for freight transport, OEMs are launching new technologies in trucks, like electric propulsion, autonomous driving, and automatic transmission to boost sales. The increasing per-capita income in both developed and developing nations and the sustained infrastructure expansion are also will also bode well for the development of the heavy ground transportation systems in Europe. The European transportation system has environmentally sustainable transportation solutions has encouraged commercial vehicle builders to develop vehicles that reduce CO2 emissions. Manufacturers are working on innovating vehicle design, dropping load factors and size, and customizing vehicles according to weight regulations.