Automotive Market Research Reports

    Electric Vehicle Battery - Procurement Intelligence Procurement of electric vehicle battery has received an uptick due to robust passenger vehicle sales and expanding investment opportunities. Prominently, the global market size stood at USD 52.07 billion in 2023. The sales of BEVs and PHEVs surpassed those of hybrid electric vehicles (HEVs) worldwide in 2023. As a result, the requirement for a larger battery size in BEVs and PHEVs is in turn increasing the demand for batteries. IEA 2023 report states that battery demand in China increased by 70% and sales of EVs increased by 80% in 2022 compared to 2021. In the U.S. region, battery demand rose by 80% in 2022. Critical materials are in greater demand due to the rise in battery demand. For instance, in 2022, lithium demand exceeded supply despite having a 180% increase in production levels since 2017. In 2022, the demand for lithium, nickel, and cobalt increased to 60%, 10%, and 30% respectively mainly for EV batteries. Lit...

    Autonomous Vehicle Industry Overview   The global autonomous vehicle market size was valued at USD 42.37 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 21.9% from 2023 to 2030. Advancements in AI, connectivity, and sensor capabilities are crucial for the market's growth, enabling vehicles to make more informed decisions and navigate complex environments efficiently. These technological strides enhance vehicle safety and reliability and also expand the scope of autonomous applications across industries, from logistics and transportation to ridesharing and delivery services. The cost-efficiency brought about by these advancements makes autonomous solutions more appealing to businesses seeking innovative and competitive edge offerings, ultimately propelling the market's expansion and adoption. Gather more insights about the market drivers, restrains and growth of the  Autonomous Vehicle Market   The growth in delivery de...

  Leisure Boat Industry Overview   The global leisure boat market size was valued at USD 42.30 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 5.3% from 2023 to 2030. The rising disposable income of citizens and the flourishing tourism sector in emerging economies, such as Brazil and China, are some of the key factors escalating market growth.   Furthermore, the growing participation of people in recreational and competitive boating activities worldwide is estimated to provide an upthrust to the growth. Besides, advancements in technologies leading to the introduction and adoption of connected boats are projected to fuel growth over the forecast period. The market consists of boat manufacturers, engine manufacturers, independent dealers, service providers, and equipment manufacturers. Gather more insights about the market drivers, restrains and growth of the  Leisure Boat Market The market is expected to pose promising growth prospe...

  Automotive Engine Industry Overview   The global automotive engine market size was worth USD 94.8 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 2.5% from 2022 to 2030. The demand for the automotive engine is directly dependent on automotive production. Thus, increasing sales of passenger cars & commercial vehicles and emerging economies are driving the demand in the market. Factors such as the stringent regulatory standards for fuel efficiency and growing demand for technologically advanced powered engines for improved vehicle performance are driving the market growth. Consumer inclination for high-performance and fuel-efficient vehicles and extensive developments and prototypes from major automakers and OEMs are also propelling the growth.   The COVID-19 outbreak hampered various industries in 2020. The economy is anticipated to continue experiencing the aftermath of the pandemic over the forecast period. Production was tempor...

  Tractor Implements Industry Overview   The global tractor implements market size was valued at USD 28.69 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 5.0% from 2022 to 2030. Rapid industrialization in the agriculture sector has resulted in increased expenditures on labor-intensive products, such as cultivators, harrows, and tillers, boosting industry growth. Furthermore, the increasing scarcity of skilled labor leads to the adoption of new equipment and tools, supporting industry growth. For instance, according to the data published by the International Labor Organization (ILO), headquartered in Geneva, Switzerland, the percentage of people working in the agriculture sector globally decreased from 44% in 1991 to 26% in 2020. Gather more insights about the market drivers, restrains and growth of the  Tractor Implements Market   Several companies have recently focused on launching tractor implements integrated with new technologi...

  Snowmobile Industry Overview   The global snowmobile market size was estimated at USD 1.67 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 4.3% from 2023 to 2030. The increasing popularity of winter sports such as skiing, snowboarding, snow racing, snow-cross, and recreational activities such as ice fishing and backcountry exploration primarily drive the market. In addition, rising consumer preferences for adventure sports, post the COVID-19 pandemic, has been a major trigger in the sales of snowmobiles in the global market.   Moreover, the increasing focus of major players in developing battery-powered snowmobiles for recreational and regular commuting purposes is further expected to fuel the global snowmobile industry growth over the forecast period. Conversely, the high upfront total cost of ownership has been a restricting factor in the high growth of the snowmobile industry globally.   Gather more insights about the market d...