Automotive & Transportation

The Evolution of Off-Road Vehicles: From Utility to Adventure According to Stratview Research, the Global Off-Road Vehicles (ORVs) Market is expected to reach USD 24,041.4 million by 2027 from USD 14,882.4 million in 2021 at a healthy CAGR of 7.6% during the forecast period of 2022-2027. Overall, the market grew by 24% in terms of units in the year 2020, a growth rate that the industry never achieved or reached close to in the past decade.

Fuel Efficiency and Emission Reduction: The Future of Marine Diesel Engines According to Stratview Research, the Marine Diesel Engine Market is expected to grow from USD 4.69 Billion in 2022 to USD 220.79 Billion by 2028 at a healthy CAGR of 5.89% during the forecast period of 2023-2028. Marine diesel engines are a type of engine that operates on diesel fuel and are used as the primary source to provide main propulsion to ships and turn the propellers of a ship.

Type-I Pressure Vessels Market: Key Success Factors, Growth Trends and Forecast 2021-2026 As per the study, the market is likely to grow at a CAGR of 5.3% during the forecast period of 2021-2026 to reach US$ 4375.3 million by 2026 from US$ 3004.3 million in 2020. Pressure vessels are enclosed containers used to hold fluids, fumes, and gases at a pressure significantly higher or lower than the ambient pressure.

Automotive Bearings Market Size to Expand Significantly by the End of 2026 The market for bearings in the automotive industry is subjected to mark a healthy rebound in the coming years to reach an estimated value of US$ 18.31 billion in 2026. In the automotive industry, bearings are used to enable rotational or linear movement while reducing friction and handling stress. Bearings are usually designed to bear axial, radial, or a combination of both loads.

Automotive Gesture Recognition Market Size, Share, Trend, Forecast, & Industry Analysis: 2021-2026 Automotive Gesture Recognition Market is likely to witness a robust CAGR of approximately 18.0%, during the forecast period. The increasing integration & adoption of digital systems in the modern-day vehicles in order to enhance passenger comfort and control, is one of the major factors fueling the growth of the automotive gesture recognition market.

Vehicle intercom system market is likely to witness an impressive CAGR of 8.2% during the forecast period. Growing intricacies of military procedures and necessity for smoother communication in emergency vehicles are the factors that are driving the growth of the global vehicle intercom system market.

The next five years for the leaf spring market in the automotive industry seems attractive with significant growth opportunities in both, OE as well as aftermarket segments. The market for automotive leaf springs is set to reach an estimated value of US$ 5.8 billion in 2024, witnessing a healthy growth in the coming years. Several factors are bolstering the demand for leaf springs among which, rising production of LCVs and MHCVs is the biggest growth driver.

Based on the primary interview results conducted across the value chain, it is estimated that the market may maintain its dazzling growth momentum in the near future. Also, the long-term growth would be healthy keeping the transition from ATVs to SSVs in mind. Overall, the ATV market is likely to grow at a healthy CAGR of 4.8% over the next five years to reach a value of US$ 6.0 billion in 2027.

Fasteners are used in a wide array of applications out of whcih the automotive industry is undoubtedly one of the largest segments. The market for fasteners in the automotive industry seems resilient and is likely to witness a healthy CAGR of 3.2% during the forecast period.

June 17, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Autonomous Cars Market. It was estimated prior to this unanticipated outbreak that the Autonomous Cars Market is likely to witness a robust CAGR of more than 22.0% during the forecast period.