The automotive electrically adjustable outside rear view mirror (ORVM) market is expected to grow at a CAGR of 14.5% during the forecast period of 2024 to 2032. Automotive electrically adjustable outside rear view mirror (ORVM) market encompasses the development, manufacture, and sale of electronically controlled mirrors that are primarily used in vehicles to enhance the driver's view of the road and surroundings. These mirrors can be adjusted from inside the vehicle using electronic controls, which provides convenience and increased safety while driving.
The automotive needle roller bearing market is expected to grow at a CAGR of 6.6% during the forecast period of 2024 to 2032. Automotive needle roller bearing market encompasses specialized bearings that utilize small cylindrical rollers to reduce friction between rotating components. These bearings are essential in automotive applications because they help increase the efficiency of vehicles by minimizing power loss, enhancing load capacity, and improving the reliability and lifespan of vehicle components.
The sustainable agri-transit market is expected to grow at a CAGR of 10.0% during the forecast period of 2024 to 2032. Sustainable agri-transit market encompasses innovative transportation solutions tailored to the agricultural sector, aiming to reduce environmental impact and enhance efficiency in the movement of goods. This market is a pivotal aspect of sustainable agriculture, focusing on minimizing carbon footprints, reducing energy consumption, and optimizing supply chains from farm to consumer.
The commercial vehicle retarder market is expected to grow at a CAGR of 5.1% during the forecast period of 2024 to 2032. Commercial vehicle retarder market is integral to the automotive industry, focusing on mechanisms that aid in controlling vehicle speed and improving safety. Retarders are devices installed in commercial vehicles to enhance braking efficiency and manage speed without the excessive use of traditional brakes.
The in-dash navigation system market is expected to grow at a CAGR of 8.2% during the forecast period of 2024 to 2032. In-dash navigation system market comprises technologies embedded directly into the dashboard of vehicles to provide integrated mapping and route guidance. These systems utilize GPS and sometimes cellular data to offer real-time location tracking and directions, integrating with other vehicle systems for enhanced functionality such as traffic information, multimedia streaming, and hands-free mobile phone operation. With advancements in automotive technology and a rise in consumer preference for real-time data, the market is poised for significant growth.
The automotive tonneau market is expected to grow at a CAGR of 4.5% during the forecast period of 2024 to 2032. Automotive tonneau market involves products used in the covering of a pickup truck's bed. These covers serve both aesthetic and functional purposes, improving the vehicle's aerodynamics while also protecting cargo from theft and weather-related damages. This market has seen significant growth due to the increasing demand for pickup trucks in various regions, coupled with advancements in material technology and growing consumer awareness regarding vehicle safety and fuel efficiency.
The automotive fault diagnostic scan tools market is expected to grow at a CAGR of 6.5% during the forecast period of 2024 to 2032. Automotive fault diagnostic scan tools market encompasses devices and software used for identifying issues within vehicle electronic systems. These tools are essential in the automotive industry, aiding technicians in diagnosing and repairing faults efficiently. The market is influenced by the increasing complexity of automotive electronics, the growth in automotive production and ownership, and regulatory pressures for lower emissions and safer vehicles.
The automotive high voltage electric capacitor market is expected to grow at a CAGR of 6.0% during the forecast period of 2024 to 2032. Automotive high voltage electric capacitor market is an essential component of the electric vehicle (EV) industry, serving critical functions in energy storage and management systems. These capacitors are designed to handle high voltage levels, which is crucial for the operation of electric powertrains. They are employed in various applications, including power conversion, energy storage, and voltage stabilization, across different types of electric and hybrid vehicles.
The liquefied natural gas (LNG) truck market is expected to grow at a CAGR of 9.8% during the forecast period of 2024 to 2032. The LNG truck market is undergoing significant expansion as a result of global shifts toward cleaner and more sustainable fuel sources in the transportation sector. LNG trucks utilize liquefied natural gas as a primary fuel source. This market is primarily driven by the increasing environmental concerns, stringent emission regulations, and the rising cost of petroleum-based fuels.
The high performance wheels market is expected to grow at a CAGR of 6.2% during the forecast period of 2024 to 2032. The high performance wheels market is characterized by its focus on advanced wheel designs that offer superior performance, durability, and aesthetics. These wheels are typically made from premium materials such as forged aluminum, magnesium, or carbon fiber, catering primarily to sports cars, luxury vehicles, and motorsports applications.
The worldwide auto parts manufacturing market is expected to have a CAGR of over 5% during the forecast period of 2023 to 2030. However, there are components such as the automotive traction motor market that are expected to witness a CAGR of 23% (2023 to 2030) also some of the electric vehicle components are expected to register a CAGR of over 30% (2023 to 2030). Therefore, this segment promises significant opportunities in the long-term future, particularly in developing economies within Asia. Due to stringent emission regulations and enhanced vehicle performance and engine efficiency, automotive components and materials have seen a dramatic transformation over time. New manufacturing technologies have significantly contributed to this transition of lightweight materials, composites, and alloys used in automobile components. Increasing power demands, higher fuel economy, and shifting consumer tastes have driven the automotive industry to provide more complex, durable, and secure goods for consumers.
On the exterior, every automobile appears luxurious, but on the interior, it is really a storage space for numerous automotive parts and components. There are numerous automotive parts that are integrated to manufacture a car. Spring is a material that is used to store potential energy. Depending on the application, a variety of spring models are available for each spring classification. Springs are manufactured to reduce the weight of industrial and aeronautical components. As a result, springs are commonly utilized in the construction of numerous vehicle components and aircraft frames. Moving between floors in public spaces has always been somewhat difficult. With modern automotive component amenities such as intelligent elevators, it is now simple to go between levels, a task that is typically time-consuming and tiring. As a result of smart elevators, going between floors is efficient, swift, and less time-consuming. Instead of pressing a button to go up or down, passengers can now choose the level they wish to travel to before entering the elevator, which will get them to their destination with the fewest number of stops.
Every automobile requires combustion to start. Spark plugs are the most essential equipment for starting a car, despite the fact that every component of a vehicle is vital. A spark plug is an electrical device that generates the spark at the appropriate time when the combustible air-fuel mixture in the cylinder bore needs to be ignited. The cylinder of a spark-ignition engine is threaded with it. The device's key components are its shell, resistance, electrodes, ribs, hex, and insulator.
Asia is emerging as the growth engine of the global automotive market, supported by its cost competitiveness, rising incomes, fast urbanization, improving infrastructure, and the potential for greater vehicle penetration in the majority of Asian nations. The majority of global manufacturers are already boosting capacity to satisfy rising demand in these areas, with the majority of new plants being established in Asia. Acute Market Reports provides automotive parts and component companies with exhaustive business research and strategic consulting solutions. The futuristic approach of Acute Market Reports enables our clients to make well-considered business decisions at the correct moment. We interact with an exhaustive range of industry stakeholders to give world-class strategic research solutions to our clients.
