“Increasing adoption of electric vehicles and increased demand for fast charging stations are anticipated to trigger the growth of the EV charging cables market.”
The global EV charging cables market is projected to grow at a CAGR of 29.8%, to reach USD 2,453 million by 2027 from an estimated USD 665 million in 2022. Factors such as rapidly developing EV infrastructure, rising EV sales worldwide, and government support on overall EV ecosystem are expected to support the EV charging cables market growth.
Increasing concerns about the environment along with rapid improvements in battery and charging technologies have contributed to the growing popularity of electric vehicles. Similarly, improving vehicle range is further supporting the demand for electric vehicles across the world.......
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“The growth of the EV test equipment market can be attributed to the increasing demand for electric vehicles.
The global EV test equipment market size is projected to reach USD 242 million by 2027, from an estimated USD 79 million in 2022, at a CAGR of 25.2%. The market for electric vehicles has been growing over the past few years due to the increasing demand for emission-free vehicles around the world, combined with the rising cost of fuel. Various renowned OEMs have been working on developing EVs with advanced electronic/electric components over the past few years. Due to the rapidly developing EV drivetrain technologies, government initiatives (tax rebates & subsidies), and regulations, both passenger and commercial electric vehicles have witnessed a high demand. OEMs offer a ......
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“Increase in the penetration of hybrid and plug-in hybrid vehicles, growth in the automotive industry, and increasing adoption of HVAC systems in high-end commercial and off-highway vehicles are expected to fuel the demand in automotive heat exchanger market.”
The global automotive heat exchanger market is projected to grow from USD 28.9 billion in 2022 to USD 34.3 billion by 2027, at a CAGR of 3.5%. Parameters such as increase in demand for hybrid and plug-in hybrid vehicles, along with steady increase in vehicle production will increase the demand for the automotive heat exchangers. In addition, the advancements in mobility solutions, paired with increase in demand for battery thermal management systems will create new opportunities for this market.
“PHEV segment is expected ......
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“Increased use of electrical actuators, and compact pneumatic actuators in robotics and automation applications are driving the market.”
The robotics and automation actuators market includes various players, such as product manufacturers and solution providers. The market size of robotics and automation actuators market is estimated to be valued at USD 18.7 billion in 2022 and is projected to grow at a CAGR of 13.9% during the forecast period. The development of advanced and cost-effective robotics and automation actuators and increasing demand for industrial robots and process automation in various industry verticals are some of the opportunities impacting the growth of the robotics and automation actuators market.
“Based on type, the rotary actuator segment is estimated to ha......
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The special mission aircraft market is projected to grow from USD 15.9 billion in 2022 to USD 19.9 billion by 2027, at a CAGR of 4.6%. Aircraft OEMs and component manufacturers are focusing on innovating equipment and components for special missions due to the increasing demand for technologically advanced aircraft from military as well as commercial applications globally. Maintaining and funding innovations and managing fluctuations in aircraft build-rates are expected to result in the dynamic growth of the special mission aircraft market in the long term, particularly for the more fragmented parts of the supply chain and highly capital-intensive aero structure segments.
Application segment is estimated to be the largest and fastest growing market
The need for stealthy monitoring du......
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“The commercialization of passenger drones is one of the key factor influencing the growth of the ultralight and light aircraft market.”
The ultralight and light aircraft market is projected to grow from USD 7.5 billion in 2022 to USD 11.9 billion by 2030, at a CAGR of 5.9% from 2022 to 2030. The market is driven by the commercialization of passenger drones. However, the market's growth is limited by the regulations on use of unamnend aircrafts to foresee the market growth.
The COVID-19 outbreak has had an impact on the ultralight and light aircraft supply chain. The spread of COVID-19 in the United States and Europe is expected to be slowed by lockdowns at ultralight and light aircraft vehicle research and development centres. As a result of the Asia Pacific lockdown, many busin......
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“Increased penetration of ambient lighting in low-mid segment cars to upsurge the automotive ambient lighting market”
The automotive ambient lighting market size is projected to reach USD 6.2 billion by 2027 from an estimated USD 3.8 billion in 2022, at a CAGR of 10.6% from 2022 to 2027. The key factors driving the market growth include increasing penetration of ambient lighting in low to mid-segment vehicles, inclination toward luxury, and increasing vehicle production. The improving economic condition of developing regions such as Asia Oceania has boosted the market for premium vehicles, which are equipped with ambient lighting.
“The foot well segment for automotive ambient lighting segment is expected to hold a dominant share throughout the forecast period as most of OEMs of......
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“Stringent emission regulations are leading to the increased penetration of diesel SCR vehicles.”
The global diesel exhaust fluid aftermarket forecasted to reach USD 50.0 billion by 2027 from USD 34.4 billion in 2020, at a CAGR of 7.8%.
Governments around the globe have updated and improved their emission standards by introducing new legislation for the automotive industry to comply to. Western regions, such as the North American and European region, have introduced new regulations like the Clear Air Act of the Us which has stricter standards and wider scope for emissions. In the Asian region countries like China and India have introduced swift regulation to counter rising air pollution. The introduction of such regulations, norms and standards will drive the demand for DEF acros......
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“Increasing growth of e-commerce sector, rising demand for automation solutions in material handling processes across industries and increasing focus on improving workplace safety are expected to fuel the demand in industrial vehicles market.”
The global industrial vehicles market is projected to grow from USD 43.7 billion in 2022 to USD 54.3 billion by 2027, at a CAGR of 4.5%. Parameters such as increasing growth of e-commerce sector, along with the increasing demand for autonomous solutions in material handling across end-use industries will boost the demand for the industrial vehicles. In addition, the growing adoption of battery-operated industrial vehicles, paired with the advent of smart factories in the manufacturing sector will create new opportun......
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“The demand for ground vehicles and UAVs the key factor influencing the growth of the military battery market.”
The military battery market is projected to grow from USD 1.3 billion in 2022 to USD 1.6 billion by 2027, at a CAGR of 4.1% from 2022 to 2027. The market is driven by rising need for ground vehicles and UAVs in military applications. However, the market's growth is limited by the regulations on lithium batteries to foresee the market growth.
The COVID-19 outbreak has had an impact on the military battery supply chain. The spread of COVID-19 in the United States and Europe is expected to be slowed by lockdowns at military battery vehicle research and development centres. As a result of the Asia Pacific lockdown, many businesses in the military battery industry have l......
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